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SEVENTEENTH ANNUAL REPORT
OF THE

FEDERAL RESERVE
BOARD
COVERING OPERATIONS

FOR THE YEAR 1930

UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON: 1931

 Superintendent of Documents, Washington, D. C.
For sale by the


Price 35 cents

THE FEDERAL RESERVE BOARD
DECEMBER 31, 1930
EX OFFICIO MEMBERS

A. W. MELLON,

Secretary of the Treasury, Chairman,
J. W. POLE,

EUGENE MEYER, Governor.

, Vice Governor.
CHARLES S. HAMLIN.
ADOLPH C. MILLER.
GEORGE R. JAMES.

Comptroller of the Currency.

WALTER L. EDDY, Secretary.

E. M, MCCLELLAND, Assistant Secretary.
J. C. NOELL, Assistant Secretary.

E . A. GOLDENWEISER,

Director, Division of Research and
Statistics.
CARL E. PARRY,

Chief, Division of Examination, and
Chief Federal Reserve Examiner.
WALTER WYATT, General Counsel.

W. M. IMLAY, Fiscal Agent.




Assistant Director, Division of Research and Statistics.
E. L. SMEAD,

Chief} Division of Bank Operations.

CONTENTS
TEXT OF REPORT
Federal reserve credit
Gold
Currency
Member bank credit
Earnings, expenses, and volume of work of the Federal reserve banks
Building operations of Federal reserve banks
Branches and agencies of the Federal reserve banks
Changes in membership
Bank examinations
Bank suspensions
Branch and group banking
Bank mergers
Banks on par list
Trust activities of national banks
Changes in the board's regulations
Amendments to the Federal reserve act
Administration of the Clayton Act
Meetings of Federal Advisory Council
Conferences held by the Federal Reserve Board
Board's organization, staff, and expenditures

Page
1
5
7
8
12
15
15
16
17
17
18
21
22
23
23
25
27
28
28
28

TABLES
FEDERAL RESERVE BANK CREDIT
RESERVE BANK CREDIT AND FACTORS IN CHANGES:

No.
No.
No.
No.

1.
2.
3.
4.

Annual averages, 1918-1930
Monthly averages, 1918-1930
Weekly averages
By weeks (Wednesday series), 1929-30

31
32-34
35
36-37

RESERVE BANK CREDIT:

No. 5. Reserve bank credit outstanding, annual averages, 1915-1930_
38
No. 6. Reserve bank credit outstanding, by months, 1922-1930
38-39
No. 7. Deposits, reserves, note circulation, and reserve percentages
of Federal reserve banks, by months, 1926-1930
40
No. 8. Principal resources and liabilities of Federal reserve banks,
by weeks
41
No. 9. Resources and liabilities of Federal reserve banks, in detail,
December 31, 1930.
42-43
No. 10. Resources and liabilities of Federal reserve banks at the end
of each month
44-45
No. 11. Condition of each Federal reserve bank at end of 1929 and
1930
46-47
No. 12. Number of member banks discounting paper at Federal
reserve banks, by months, 1914-1930
48
No. 13. Bills discounted by Federal reserve banks—Holdings at the
end of each month, by classes
49




in

IV

CONTENTS

RESERVE BANK CREDIT—Continued.

Page

No. 14. Bills bought by Federal reserve banks—Holdings at the end
of each month, by classes
49
No. 15. Holdings of bills discounted and bills bought by Federal
reserve banks, by maturities
50
No. 16. Holdings of United States securities by Federal reserve banks
at the end of each year, 1926-1930, by classes.
51
No. 17. Holdings by Federal reserve banks of United States securities in system investment account, under resale agreement,
etc. (average basis), 1923-1930
52-53
No. 17a. Holdings by Federal reserve banks of United States securities in system investment account, under resale agreement, etc. (Wednesday basis), 1923-1930
54-57
2To. 18. Holdings by Federal reserve banks of temporary one-day
certificates of indebtedness issued by the United States
Treasury, 1924-1930
58
VOLUME OP OPERATIONS OF FEDERAL RESERVE BANKS:

No. 19. Volume of operations in principal departments, 1926-1930- -

59

GOLD SETTLEMENT FUND:

No. 20. Summary of transactions through the fund, 1924-1930

60

FEDERAL RESERVE AGENTS' FUND:

No. 21. Summary of transactions through the fund, 1924-1930

60

MEMBERSHIP IN PAR COLLECTION SYSTEM:

No. 22. Number of banks on par list and not on par list, 1923-1930--

61

FEDERAL RESERVE BANK PREMISES:

No. 23. Cost of premises of Federal reserve banks and branches to
December 31, 1930

62

EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS:

No. 24. Gross and net earnings and disposition made of net earnings, 1914-1930
--No. 25. Earnings, by sources, 1914-1930

63
63

FEDERAL RESERVE NOTES:

No. 26. Federal reserve agents'accounts at the end of each month--

64

GOLD STOCK, GOLD MOVEMENTS, AND MONEY IN
CIRCULATION
GOLD:

No. 27. Monetary gold stock of the United States, by months, 19141930
No. 28. Gold earmarked by Federal reserve banks for foreign account, by months, 1916-1930No. 29. Gold imports and exports, by countries, 1927-1930
No. 30. Gold imports and exports, by months, 1921-1930-..

67
68
68
69

MONET IN CIRCULATION:

No. 31. United States money in circulation, by months, 1914-1930-No. 32. Kinds of money in circulation, by months, 1928-1930
-

70
71

DISCOUNT RATES AND MONEY RATES
DISCOUNT RATES AND MONEY RATES:

No. 33. Federal reserve bank discount rates on all classes and maturities of discounted bills—Changes from January 1, 1922, to
December 31, 1930
-75-76
No. 34. Federal reserve bank buying rates on acceptances—Changes
from January 1, 1922, to December 31, 1930
--_ 77-78



CONTENTS

V

DISCOUNT RATES AND MONEY RATES—Continued.

Page

No. 35. Average rates earned by Federal reserve banks on bills and
securities, 1917-1930
No. 36. Open-market rates in New York City, by months, 1926-1930.
No. 37. Open-market rates in New York City, by weeks
No. 38. Money rates in New York City—Prevailing rates charged
customers, by months, 1926-1930
No. 39. Rates charged customers by banks in principal cities
(weighted averages), 1919-1930

79
80
81
82
83

FOREIGN RATES:

No. 40. Discount rates at central banks in foreign countries—Changes
from January 1, 1926, to December 31, 1930
No, 41. Open-market rates in foreign countries, by months, 19261930

84
85

MEMBER AND NONMEMBER BANK CREDIT
ALL

BANKS IN THE UNITED STATES:

No. 42. Loans and investments of member and nonmember banks,
1914-1930
No. 43. Deposits of member and nonmember banks (exclusive of
interbank deposits), 1914-1930
ALL

89
90

MEMBER BANKS:

No. 44. Resources and liabilities of national and State bank members.
91
No. 45. Resources and liabilities of reserve city and country banks._
92
No. 46. Classification of member bank loans and investments on call
dates, 1928-1930
93
No. 47. Principal resources and liabilities on call dates, 1914-1930.. 94-95
No. 48. Deposits subject to reserve, reserves required, reserves held,
and borrowings at Federal reserve banks, by months
96
No. 49. Reserve balances, by months, 1919-1930
97
No. 50. Borrowings at Federal reserve banks, by months, 1914-1930.
97
REPORTING MEMBER BANKS IN LEADING CITIES:

No. 51. Loans, investments, deposits, reserves, and borrowings at
Federal reserve banks, by months, 1919-1930
98-99
No. 52. Principal resources and liabilities, by weeks, 1927-1930
100-107
No. 53. New York City banks—Principal resources and liabilities, by

weeks, 1927-1930

108-115

No. 54. Banks outside New York City—Principal resources and
liabilities, by weeks, 1927-1930
116-123
No. 55. Bankers' balances, by weeks: Total, New York City, other
leading cities
124
BROKERS' LOANS:
No. 56. Loans to brokers and dealers, secured by stocks and bonds,
made by reporting member banks in New York City, by
weeks
_
125
No. 57. Brokers1 borrowings, 1926-1930, as reported by New York
Stock Exchange..
126
No. 58. Member bank loans to brokers in New York City,
1928-1930
1. 127
No. 59. Member bank loans to brokers outside New York City,
1928-1930
127




VI

CONTENTS

BANKERS* ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING:

No.
No.
No.
No.

page

60.
61.
62.
63.

Bankers' acceptances and commercial paper outstanding
Bankers' acceptances outstanding, by classes
Bankers' acceptances held by accepting banks, 1925-1930._
Purchased acceptances held by member banks, call dates
1928-1930
No, 64. Distribution of bankers' acceptances outstanding, by months-

128
128
129
129
129

BANK D E B I T S :

No. 65. Debits to individual accounts by banks in 141 principal
cities, by months, 1921-1930

130

BANK SUSPENSIONS:

No. 66. Banks suspended and reopened, by years, 1921-1930
No. 67. Bank suspensions, by months, 1926-1930
No. 68. Bank suspensions: Number, classified according to capita]
stock, 1921-1&30
No. 69. Bank suspensions: By size of town or city, 1921-1930

131
132
133
133

CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM:

No. 70. Summary of changes, by years, 1926-1930
No. 71. Changes, by class of member, 1929 and 1930

134
134

EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS,, 1923-1929:

No. 72. Earning assets, capital funds, and profits
No. 73. Ratios of earnings, expenses, etc., to average earning assets.
No. 74. Earnings, expenses, and dividends

135
135
136

BANKING CONDITIONS IN FEDERAL RESERVE DISTRICTS
AND STATES
CONDITION OF EACH FEDERAL RESERVE BANK:

No. 75. Bills discounted for member banks—Holdings, by months,
1926-1930
139
No. 76. Discounted bills—Holdings on December 31, 1930, by
classes
140
No. 77. Discounted bills—Holdings on December 31, 1930, by
maturities
140
No. 78. Principal resources and liabilities, by weeks
141-152
VOLUME OF OPERATIONS OF EACH FEDERAL RESERVE

BANK:

No. 79. In principal departments
No. 80. In branches

„__

153
154

GOLD SETTLEMENT F U N D :

No. 81. Summary of transactions through the fund, by districts

155

FEDERAL RESERVE AGENTS' GOLD F U N D :

No. 82. Summary of transactions through the fund, by districts

155

MEMBERSHIP IN PAR COLLECTION SYSTEM:

No. 83. Number of banks on par list and not on par list, by districts
_
156
No. 84. Number of banks on par list and not on par list, by States,
December 31, 1929 and 1930
_ 157
EARNINGS AND EXPENSES OF EACH FEDERAL RESERVE BANK:

No. 85. Gross and net earnings and disposition made of net earnings,

1914-1930
No. 86. Earnings and expenses in detail

_

1923-1930:
Total loans and investments
Totalloans.
Investments
Deposits (exclusive of interbank deposits)

158-161
162-163

CONDITION OF ALL BANKS IN EACH DISTRICT,

No. 87.
No. 88.
No. 89.
No. 90.




164
165
166
167

CONTENTS

VII

CONDITION OP ALL BANKS, BY STATES, 1925-1930:

Page

No. 91. Total loans and investments
No. 92. Total l o a n s . . No. 93. Investments

_
_

.-.

168
169
170

CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT:

No.
No.
No.
No.

94.
95.
96.
97.

Principal resources and liabilities, on call dates, 1922-1930- 171-182
Net demand and time deposits, by months
183
Reserve balances, by months, 1927-1930
- . . _ 184
Borrowings at Federal reserve banks, by months, 1929 and
1930
185
No. 98. Number of member banks discounting paper at Federal
reserve banks, 1923-1930
185
No. 99. Classification of loans and investments on call dates
186-187

CONDITION OP ALL MEMBER BANKS, BY STATES:

No.
No.
No.
No.
No.
No.

100.
101.
102.
103.
104.
105.

Total loans and investments, 1928-1930
188
Total loans, 1928-1930
189
Loans to customers, open-market loans, 1928-1930
190-191
Investments, 1928-1930
.
192
Borrowings at Federal reserve banks, by States, 1930
193
Number of member banks discounting paper at Federal
reserve banks, 1923-1930
194

CONDITION OF REPORTING MEMBER BANKS IN EACH DISTRICT:

No.
No.
No.
No.
No.
No.
No.
No.
No.

106.
107.
108.
109.
110.
111.
112.
113.
114.

Total loans and investments, by weeks
Total loans, by weeks
!...
Loans on securities, by weeks
All other loans, by weeks
Investments, by weeks
Net demand deposits, by weeks
Time deposits, by weeks..
Reserve balances, by weeks
Borrowings at Federal reserve banks, by weeks

195
196
197
198
199
200
201
202
203

BANKERS' BALANCES OF REPORTING MEMBER BANKS, BY DISTRICTS:

No. 115. Amounts due to banks, 1929 and 1930, by m o n t h s . .
No. 116. Amounts due from banks, 1929 and 1930, by months

204
204

BANK SUSPENSIONS:

No. 117. Banks suspended and reopened, by districts
No. 118. Banks suspended and reopened, by States

205
206

EARNINGS, EXPENSES, AND DIVIDENDS OP MEMBER BANKS, 1926-1930:

No. 119. All member banks, by districts-.
No. 120. National banks, by districts
No. 121. State member banks, by districts

207
208
209

_

BUSINESS CONDITIONS
CAPITAL ISSUES AND SECURITY PRICES:

No. 122. Capital issues, 1922-1930
No. 123. Security prices, 1919-1930..

_

_

213
214

INDEX NUMBERS OP PRODUCTION, EMPLOYMENT, TRADE, AND PRICES:

No.
No.
No.
No.
No.
No.

124. Production, employment, and trade, 1919-1930
125. Production of manufactures, by groups
126. Production of minerals, by products
127. Factory employment, by groups.
_
128. Factory pay rolls, by groups
129. Wholesale prices, by groups of commodities, 1913-1930




215-217
218
219
220-222
223
224

CONTENTS

APPENDIX
Page

Kecommendations of the Federal Advisory Council
Amendments to the Federal reserve act
Regulations of the Federal Reserve Board
Directory of the Federal Reserve Board
Salaries of officers and employees of the Federal Reserve Board
Receipts and disbursements of the Federal Reserve Board
Salaries of national-bank examiners
Directory of the Federal Advisory Council
Governors and directors of Federal reserve banks
Salaries of officers and employees of Federal reserve banks
State bank and trust company members of Federal reserve system:
List of members, with location, loans, investments, etc
Summary classification according to capital stock
Fiduciary powers granted to national banks.
Banks authorized to accept bills up to 100 per cent of capital and surplus
Description of Federal reserve districts
Description of Federal reserve branch territories
Map of Federal reserve districts.




227-228
229-231
232-272
273
273-275
276-277
278-280
280
281-288
289-291
292-309
310-312
313-337
338-340
341-346
347-348
349

LETTER OF TRANSMITTAL
FEDERAL RESERVE BOARD,

Washington, February 25, 1931.
To the SPEAKER OF THE HOUSE OF REPRESENTATIVES :

Pursuant to the requirements of section 10 of the Federal reserve
act, I have the honor to submit the Seventeenth Annual Report, prepared by direction of the Federal Reserve Board, covering operations
during the calendar year 1930.
Yours respectfully,
EUGENE MEYER, Governor.




IX

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
The year 1930 was marked by reduced demand for bank credit
from trade and industry and by decreasing commodity prices and
money rates, all characteristic of a period of declining activity
in business. In these circumstances the Federal reserve system
pursued a policy of monetary ease. This policy was expressed
through the purchase at intervals of additional United States Government securities and in progressive reductions of reserve bank discount and acceptance rates. Other influences contributing to monetary ease in the United States were gold imports in large volume
from Latin America and the Orient, and a diminished domestic demand for currency throughout the larger part of the year, caused
by the decline in business activity and in the level of commodity
prices. The inflow of gold from abroad and of currency from circulation had the effect of reducing the volume of reserve bank credit
outstanding during the year. Member and nonmember bank credit
also declined, reflecting a reduction in the demand for loans from
the banks' customers engaged in trade and industry, which was offset only in part by an increase in the banks' holdings of investment
securities and of paper purchased in the open market. Bank failures
were in larger number in 1930 than in previous years, most of the
failures being of small rural banks that had been in a weakened condition for some time; but there were also a few failures of large
city banks that had accumulated unliquid loans and suffered losses
in recent years through operations based directly or indirectly on
overvalued real estate and securities.
FEDERAL, RESERVE CREDIT

Money rates, which for more than a year prior to October, 1929,
had been on a rising level—owing largely to the rapid growth in the
demand for credit to finance speculative activities in many lines and
in different sections of the country—declined after the autumn break
in the financial markets of the country. Industrial activity, which
had reached a peak in June, 1929, also declined in the latter part
of that year, particularly in the last two months, and the level of
commodity prices showed a sharp recession. The Federal reserve
system during the last two months of 1929 purchased $350,000,000




1

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

of United States securities and reduced discount and acceptance rates.
During 1930 further purchases of United States securities were made
at intervals and rates for discounts and acceptances were reduced
by successive steps, as noted below. The chart below shows the
course of Federal reserve bank credit and its components during
1929 and 1930.
During the month of March, 1930, holdings of securities increased
to $530,000,000 and remained at that figure to the end of May. During the summer months these holdings were increased to $600,000,000
and remained at about that figure until December, when additional
purchases of a temporary nature were made, partly for the purpose
MILLIONS OF DOLLARS

2000

MILLIONS OF DOLLARS

RESERVE BANK CREDIT
(

2000

Weekly Averages of Daily Figures )

1500

1500

1000

1000

500

1929

1930

of counteracting the tightening effect of seasonal credit and currency demands upon the money market and partly in connection with
disturbances in the banking situation.
Acceptance holdings of the reserve banks, which were at about
$390,000,000 at the opening of the year, declined during the first six
months, when seasonal influences are in this direction, and reached
a low level of $100,000,000 by the end of June. This decline in bill
holdings was due in part to the fact that, with the abundance of
short-time funds in the money market, bills offered an attractive
investment for banks and others, and bill offerings to the reserve
banks consequently declined. From midsummer reserve bank holdings of bills showed a seasonal expansion, and at the close of the



ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

&

year they were at about the same figure as at the end of 1929. During the larger part of- the crop-marketing season, however, when
these holdings usually show the greatest increase of the year, the
system's holdings of acceptances increased less than usual, largely
because of considerable purchases of bills by member banks. Toward the end of November member bank holdings of acceptances
reached the unprecedented total of $500,000,000, and the member
banks were accordingly enabled in the last weeks of the year to
obtain a considerable part of their seasonal requirements through
the sale of acceptances to the reserve banks, and the reserve banks'9
holdings of open-market bills consequently increased rapidly in
December.
During the autumn, when the export movement of agricultural
commodities is at its peak, the Federal reserve banks in 1930, as in
1929, bought moderate amounts of foreign exchange bills, which
were carried over the year end.
The growth in the open-market portfolio of the reserve banks in
a year when the total demand for reserve bank credit was relatively
small and was not increasing resulted in a reduction of member bank
indebtedness, which between the middle of March and the latter
part of November was around the lowest level for any length of
time since 1917. Discounts remained at approximately $225,000,000
from April to December, but rose to a maximum of $450,000,000 on
the day preceding Christmas, when currency demand reached its
seasonal peak and when a large volume of currency had been called
into use in connection with bank failures. This temporary rise was
followed by a rapid liquidation after the holiday demand was over.
While discounts for all member banks were at a low level throughout the year, banks in the financial centers were practically out of
debt during a considerable part of the year. This low level of
indebtedness at the reserve banks was an influence in the direction
of easier money conditions, which were reflected in lower rates both
on open-market paper and on loans made by banks to their customers.
The chart brings out the course of money rates for the years 1919
to 1930, showing that the rates in the latter part of 1930 were lower
than at any other time during the 12-year period covered.
Rates on acceptances fell from 5% per cent in the autumn of 1929
to 1% per cent at the close of 1930; rates on commercial paper from
§y± to 2% per cent, while call money was around 2 per cent, frequently falling below that level in the last six months of the year.
Kates charged to customers by banks in New York City, which from
August through October, 1929, had been above 6 per cent, had
dropped to 4% per cent by the end of 1930. The year, therefore,
was one of low rates for money.



ANNUAL REPOBT OF THE FEDERAL RESERVE BOARD

Between October, 1929, and the early days of 1931 discount rates
at the reserve banks were reduced from 6 to 2 per cent at the Federal Reserve Bank of New York; from 5 to 2y2 per cent at Boston;
from 5 to 3 per cent at Cleveland, Atlanta, Chicago, St. Louis, and
PER'CENT

MONEY RATES IN NEW YORK CITY
Call Money
Commercial Paper
Bankers 'Acceptances

1919

1920

1921

1922

1923

\)V*

1925

1926

1927

1928

1929

1930

San Francisco; and from 5 to 3% per cent at Philadelphia, Richmond, Minneapolis, Kansas City, and Dallas. The following table
shows the change in discount rates between October 31, 1929, and
January 10, 1931:
CHANGES IN* DISCOUNT RATES

Boston
__
New York—
PhiladelphiaCleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis..
Kansas City—
Dallas
San Francisco

Rate in
October,

Rate in
January,

(per cent)

Federal reserve bank

(per cent)

1929

5
6
5
5
5
5
5
5
5
5
5
5

1931

Date of latest
reduction

Jan. 2,1931.
Dec. 24, 1930.
July 3, 1930.
3
Dec. 29,1930.
3H July 18, 1930.
3
Jan. 10, 1931.
3
Do.
3
Jan. 8, 1931.
ZYi Sept. 12, 1930.
2>Y2 Aug. 15, 1930.
2>y2 Sept. 9, 1930.
3
Jan. 9, 1931.
2

Notwithstanding these reductions in rates and the purchase of
securities by the reserve banks, the total volume of reserve bank



ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

credit declined during the year and from May to October was near the
$1,000,000,000 level, as compared with an average of $1,375,000,000
during the corresponding period of 1929. This decrease in reserve
bank credit reflected a gradual increase in the stock of monetary
gold, which for the year amounted to $310,000,000, and a decline of
currency in circulation through the larger part of the year, while
member bank reserve balances remained relatively constant. Changes
MILLIONS OF DOLLARS

MILLIOMS OF DOLLARS

5500

RESERVE BANK CREDIT
AND PRINCIPAL FACTORS IN CHANGES

5500

( Weekly Averages of Daily Figures )

5000

5000

4500

4500

4000
2500
Member Bank
Reserve Balances
2000

2000

1500

1500

1000

1000

500

1930

1929

in the three principal factors affecting the amount of reserve bank
credit outstanding, namely, gold, currency, and member bank reserve requirements, are shown for 1929 and 1930 in the chart, and
will be discussed in some detail in the following paragraphs.
GOLD

During 1930, $310,000,000 was added to the stock of monetary
gold in the United States, bringing the weekly average figure at the
close of the year to $4,590,000,000. This amount was within less
than $100,000,000 of the peak figure of May, 1927. The latter part
of 1927 had been marked by easy money conditions in the United



6

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

States, and this fact, together with the restoration of the French
franc and other currencies to the gold standard, had led to a heavy
outward movement of gold that continued through the first half of
1928. During 1928, however, money rates advanced in this country;
and early in 1929 the movement of gold became definitely inward,
with the result that in the first 10 months of 1929 the monetary gold
stock of the United States rose by $238,000,000. This movement
was abruptly terminated by the break in the stock market at the
end of October and the rapid decline of money rates which followed,
and in the final two months of the year $100,000,000 of gold was
exported, but early in 1930 gold again began to flow to the United
States.
The circumstances surrounding the renewed influx of gold in 1930
differed in important respects from those which had influenced
preceding movements. With the exception of two months in the
summer, when gold was shipped fo France, the movement to Europe
ceased. This was largely on account of the fact that money rates
abroad, which had been kept up to protect the reserves of foreign
countries against the attraction of speculative and high-money conditions in the United States, declined rapidly late in 1929, when
these conditions changed. By the beginning of 1930 a temporarily
balanced situation had developed as between this country and
Europe, in which gold moved in neither direction. On the other
hand, gold flowed into the United States from Japan, China, Brazil,
Argentina, and other Central and South American countries, and
gold flowed into England from South America and Australia. In
general, the movement of gold was one from outlying countries
producing raw materials to the financial centers and bore no significant relation to differentials in money rates. The difficulties in
which the outlying countries found themselves reflected chiefly a
decline in the value of many of their most important commodity
exports, as well as the effects of a long period of conditions in the
United States unfavorable to the flotation of foreign bonds. In
Japan the immediate cause of the loss of gold was the removal on
January 11, 1930, of the embargo on exports of the metal—a necessary final step in the return of the country to the gold standard. In
Argentina, on the other hand, the redemption of notes in gold at
the Government conversion office was discontinued on December 16,
1929, and by this means gold exports were prevented during the
greater part of the year, and when they were resumed in the autumn
of 1930 they were strictly controlled and for account of the Government only. In Australia, also, measures were taken in December,
1929, to make the shipment of gold subject to the discretion of the
central authorities. In Brazil the de facto stabilization of the cur


ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

7

rency was abandoned at the close of 1929, and the Government
stabilization office was abolished altogether on November 22, 1930.
China, a silver-using country, was affected by the sharp appreciation of gold in terms of silver and the consequent barter of gold for
silver. Japan continued to maintain an effective gold standard with
a free gold market; but in Japan, as in the other countries mentioned, the pressure of the declining value of commodity exports, in
conjunction with continued inability to borrow in volume abroad,
resulted in gold exports as the only means for covering foreign
payments.
In these circumstances the United States received, during 1930,
$157,000,000 gold from Japan, $88,000,000 from Brazil, $23,000,000
from China, $21,000,000 from Mexico, $20,000,000 from Argentina,
and $36,000,000 from other Central and South American countries.
England during the 15 months ending with December, 1930, acquired
$136,000,000 of gold from Australia, $44,000,000 from Brazil, and
$43,000,000 from Argentina. In all, $568,000,000, an amount substantially in excess of the total production of the gold mines of the
world during 1930, was thus transferred to the monetary gold stocks
of the more important financial centers.
Of the gold, amounting to $345,000,000, received by the United
States from these outlying countries, $74,000,000 was shipped to
France. The gold received from similar sources by England, as
well as $209,000,000 of newly mined gold received during the year
from Rhodesia and South Africa, was largely exported to France.
CURRENCY

Another of the principal factors affecting changes in the demand
for reserve bank credit is the course of domestic demand for money
in circulation. A chart is here presented showing the volume of
money in circulation from 1926 to 1930. The chart shows that the
volume of United States money in circulation has been decreasing
continuously since 1926. Up to 1929 this decrease was not due to
any considerable extent to a decline in the volume of pay rolls or
retail trade, usually the two principal factors of currency demand,
but represented partly a decrease in the cash carried by banks in
vault, a return flow of American currency from abroad, and a
gradual increase in the use of checks as a substitute for cash payments.
In 1930, on the other hand, the rapid decrease in currency in circulation and its maintenance in the autumn months at a level about
$300,000,000 below that of 1929 reflected the effects of the slowing
down in business activity. The chart on page 9 shows the course of
industrial production and factory employment from 1919 to 1930.
By the end of 1930 factory pay rolls had declined by 35 per cent from
33454—31
2



8

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

the peak of 1929, and retail trade was also in smaller volume as a
result of a decline both in physical volume of trade and in retail
prices. For the first 10 months of the year the return flow of currency
from circulation was the largest single factor in the diminished demand for reserve bank credit. During the last two months of the
year, however, the demand for currency rose by nearly $500,000,000,
a much larger increase than is usual during the holiday season, even
in years of active business. This rapid increase in November and
MILLIONS OF DOLLARS

MONEY IN CIRCULATION

5200

~C Weekly Averages ofDa/Iy Figures Y~

MILLIONS OF A DOLLARS

5200

5100

•m 5100

5000

4900

4800

4700

4600

4500

4500

4400

4400

4300 L.. I
«!AN.

I

1

1

I

FEB. MAR. APR. MAY JUNE

I
JULY

1

1

AUG. SEPT.

1

1 . . J 4300
..

OCT. NOV.

DEC.

December, in excess of seasonal requirements, was due to the failure
of several large banks, which resulted in runs on other banks and
currency withdrawals, together with an increase of bank holdings
of vault cash as part of the process of maintaining an exceptionally
liquid position. As a consequence of these developments, the amount
of currency outstanding, which in October had been $300,000,000
lower than the year before, was at the end of 1930 as large as at the
end of 1929.
MEMBER BANK CREDIT

Taking the year 1930 as a whole, there was relatively little change
in the aggregate volume of reserve balances held by the member
banks with the reserve banks—the other important factor in the demand for reserve bank credit—and the factor that is directly related



ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

9

to changes in the volume of member bank credit. The absence of
change in member bank reserve balances during the year was due
to the maintenance at the member banks of a fairly constant volume
of demand and time deposits, on which the member banks' reserve
requirements are based. Loans and investments of the banks, however, showed a considerable decline during the year, as the demand
for credit by trade and industry diminished with the slackening of
business activity. In considering developments in member bank
INDUSTRIAL PRODUCTION AND FACTORY EMPLOYMENT
INDEX NUMBERS; ADJUSTED FOR SEASONAL VARIATION, 1923-25=100

50
1919

1920

1921

1922

1923

192^

1925

1926

1927

1926

1929

credit, the 15-month period from October 4, 1929—the date of the
last report for all member banks prior to the break in the stock
market—to the end of 1930 may be treated as a unit. The following
table shows changes in the principal asset items of the member
banks during that 15-month period:
CHANGES IN ASSETS OF MEMBER BANKS—OCTOBER 4, 1929-DECEMBER 31,

1930

[In millions of dollars]
Member banks in—
Member
All membanks outber banks New York Other re- side reserve
cities
City
serve cities
Loans and investments, total
Loans to banks
Loans to other customers, total
Secured by stocks and bonds
Secured by real estate.
Otherwise secured and unsecured
Open-market loans, total
Acceptances
Commercial paper
Street loans
Investments




-1,054

+432

-226

-10

-19

-8

-2,243
-167
+81
-2,157

+192
-28
-672

-213
+139
-795

-42
+207
+138
-387

+330
+119
+26
+185

+5
+113
+137
-245

+1,240

+629

+647

-1 # 261
+17
-865
-146

-376
-24
-25
-327

10

ANNUAL REPORT OF THE FEDERAL, RESERVE BOARD

During the 12 months beginning in October, 1929, there was a
large liquidation of loans to customers, and particularly of loans
to trade and industry, reflecting the effects of reduction in current
credit requirements at a time of diminished business activity. The
heavy liquidation of local customer loans was largely offset during
that period by an increase in investments and in open-market loans,
including acceptances, commercial paper, and street loans. The
increase in street loans during that time represented that part of
the loans withdrawn by nonbanking lenders that was taken over
by the banks after the break in security prices. By the final quarter of 1930, however, these loans had declined to a small figure, and
continued liquidation of security loans was reflected in a reduction
of street loans by member banks for their own account, which at
the end of the year were at a level $400,000,000 lower than before
the break in the stock market. During the last quarter of 1930
there was little further liquidation of customer loans, but street
loans continued to decline as the demand for accommodation from
the stock market decreased, with the net result that loans and investments of member banks during the 15-month period decreased
in all by $1,050,000,000.
This decrease in total loans and investments of all member banks
was not equally distributed between different groups of banks. At
member banks in New York City total loans and investments showed
an increase of $432,000,000 for the 15-month period, while member
banks in other reserve cities showed a decrease of $226,000,000, and
member banks outside reserve cities—so-called " country banks "—
a decrease of $1,261,000,000. The largest decreases in all classes of
banks were shown for loans made to customers, not secured by stocks
and bonds or real estate, the decrease in these loans during the 15
months reflecting largely the reduction in volume of business activity. Loans to customers secured by stocks and bonds increased at
New York banks, but decreased in the other groups of banks. The
open-market loan portfolio of member banks showed relatively
little change for the period, a considerable increase at New York
City banks being somewhat more than offset by a decrease at
country banks. Bank holdings of purchased acceptances and openmarket commercial paper, however, increased in New York and in
the other reserve cities, though they diminished outside of these
cities. Loans to brokers and dealers in securities in New York,
so-called "street loans," were at a somewhat higher level at New
York City banks at the end of 1930 than on October 4, 1929, reflecting the taking over by these banks of a part of the loans previously
made by nonbanking lenders; at the other two groups of banks these
loans showed a large liquidation. Finally, the banks' holdings of
investments increased in the aggregate by $1,240,000,000, reflecting



ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

11

increases of more than $600,000,000 both at the New York City banks
and at other reserve city banks, while at country banks they showed a
small reduction. At country banks there was in fact a liquidation all
along the line. A part of it was due to the elimination of banks
through suspensions, but there has also been a large-scale liquidation
of credit at active banks in country districts, reflecting diminished
activity of trade and industry in rural areas and a decline in deposits
due in part to decreases in the value of agricultural products marketed, resulting both from a smaller volume of sales and a considerable reduction in the prices of principal crops.
The liquidation of member bank credit during the 15 months ending in December, 1930, was accompanied by an even larger liquidation of nonmember bank credit. The latest figures available for
nonmember banks show a decrease of $800,000,000 between October
4, 1929, and September 24, 1930. If the relation of the decrease in
nonmember bank credit and in member bank credit may be assumed
to have remained approximately the same during the last quarter,
then the total decrease in bank credit outstanding for the 15-month
period was in the neighborhood of $3,000,000,000. A part of this
decrease in bank credit has been due to bank suspensions during the
period, and represents the elimination from the aggregate resources
of active banks of the resources of failed banks that have not been
gradually absorbed in one way or another by other banks. In addition to the reduction of about $3,000,000,000 in outstanding bank
credit during the 15-month period, there was also a liquidation of
about $5,500,000,000 of loans by nonbanking lenders to brokers and
dealers in securities. Consequently, total liquidation of credit extended by banks and by others through the banks has amounted to
$8,500,000,000 for the period.
For the banks of the country the period of 15 months ending in
December of 1930 was one of readjustment and liquidation. Through
the experience of this period and of the preceding few years many
important problems connected with the structure and functioning of
our banking system are becoming more clearly defined. These problems are at present receiving consideration by congressional committees. Since these committees are conducting investigations with
a view to determining the need of legislative and administrative reforms, the Federal Eeserve Board refrains in this annual report from
making recommendations to Congress.




12

ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD
DETAILS OF OPERATION

In the preceding pages there has been presented a brief discussion of business and banking developments in 1930 and of the policies pursued by the Federal reserve system during the year. In
the following sections of this report there is given a more detailed
account of the operations of the Federal reserve banks and branches
and of administrative matters with which the Federal Reserve
Board has dealt during 1930.
EARNINGS, EXPENSES, AND VOLUME OF WORK OF THE FEDERAL RESERVE!
BANKS

During 1930 the gross earnings of the Federal reserve banks, at
$36,424,000, were $34,531,000 less than in 1929 and the lowest since
1917. The deduction of current expenses of $28,343,000—somewhat
less than the previous year—and adjustments for depreciation, reserves for losses and self-insurance, resulted in net earnings of
$7,988,000 available for distribution as dividends, transfers to surplus, and franchise tax to the Government. Earnings, expenses,,
and distribution of earnings for all reserve banks combined for
1929 and 1930 are summarized in the accompanying table.
E A B N I N G S AND E X P E N S E S OF FEDERAL RESERVE B A N K S D U R I N G 1929 AND 1930

[In thousands of dollars]
1930

Total earnings
Current expenses
Current net earnings
_
Additions (withdrawals from reserves, etc.)-Deductions (for reserves, etc.)
Net deductions
_
Net earnings available for distribution
Dividends paid
Transferred to surplus
Franchise tax paid to United States Government

-

_-_-

1929

Increase or
decrease (—)
1930

36,424
28, 343
8,081

70,955
29, 691

-34,531
-1,348

41,264

-33,183

3,475
3,568

956
5,817

2,519
-2,249

93

_

4,861

-4,768

7,988
10,269
-2,298
17

36,403
9,584
22,536
4,283

-28,415
685
-24,834
-4,266

The lower gross earnings reflected a decrease of $356,000,000 in
the daily average holdings of bills and securities, together with a
reduction in the average rate of earnings from 4.86 per cent to 3.25
per cent. Earnings from bills discounted decreased from $47,791,000
in 1929 to $10,672,000 in 1930, the result of a decrease of $679,000,000
in average daily holdings of discounts and a lowering of the average
rate of earnings from 5.03 per cent to 3.93 per cent. Earnings from
bills bought in the open market were also lower, but earnings from
the larger holdings of Government securities, at $17,273,000, were
$9,108,000 larger than in 1929. The rate of return on bills bought in
the open market was 2.85 per cent in 1930, compared with 5 per cent




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

13

in 1929; on Government securities 3.06 per cent, compared with 3.93
per cent. The average holdings of discounted bills, bills bought in
the open market, United States Government securities, and other
bills and securities, together with average rates and amounts earned
on each, are shown for recent years in the accompanying table.
E A R N I N G S ON B I L L S AND SECURITIES

[Amounts in thousands of dollars]
Bills and securities held by all Federal reserve banks
Year
Total

Daily average holdings:

Average rate of earnings (per cent):
1925
_
.„

__

_

Bills
bought
in open
market

United
States
Government securities

All other
bills and
securities

1,139, 507
1,209,309
1,124, 538
1,467, 371
1, 413, 058
1, 056,895

1925
1926
1927
1928
1929
1930

1926
1927
1928
1929
1930
Earnings:
1925
1926
1927
1928
1929
1930

Bills discounted

481,515
570, 613
442, 287
839,942
950, 580
271, 727

287,329
281, 386
263, 258
327,806
241, 399
213,201

358,962
349, 790
417, 480
297,499
207, 659
563, 672

11,701
7,520
1,513
2,124
13, 420
8,295

3.51
3.76
3.60
4.24
4.86
3.25

3.67
3.95
3.83
4.56
5.03
3.93

3.17
3.55
3.49
3.97
5.00
2.85

3.56
3.60
3.41
3.64
3.93
3.06

3.59
4.21
3.88
4.34
M.94
4.09

39,986
45,460
40,482
62, 275
'68,683
34,365

17, 680
22,552
17, 011
38,334
47, 791
10,672

9,104
10,003
9,207
13,021
12,064
6,081

12,783
12,589
14, 206
10,828
8,165
17,273

419
316
58
92
'663
339

'Revised.

Total current expenses of the Federal reserve banks in 1930 were
$28,343,000 which is $1,348,000 less than in 1929. The cost of printing, issuing, and redeeming currency was $924,000 lower than the
figure of $3,099,000 for the previous year, when this cost was unusually high by reason of the expense incurred in the process of substituting notes of smaller dimension for the old size. Salaries paid
to officers aggregated $2,680,000 for the year, and to clerical staff
and others $14,574,000, making a total expenditure of $17,254,000
for all salaries and wages, compared with $17,265,000 in the preceding year. Other major expenditures included taxes on banking
houses aggregating $1,374,000, as against $1,470,000, and telegraphic
and postage charges amounting to $2,247,000, as against $2,444,000
in 1929.
The average number of officers and employees decreased from
9,995 in 1929 to 9,797 in 1930, and there was some falling off in the
volume of work handled in the principal departments of the banks,
except in the currency and coin departments. The following table
shows the volume of work handled during 1930 and the three
preceding years:




14

ANNUAL, REPORT OF THE FEDERAL RESERVE BOARD
VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS
1927

1928

1929

1930

NUMBER OF PIECES HANDLED

Bills discounted:
Applications
Notes discounted
Bills purchased in open market for
own account
_
Currency received and counted
Coin received and counted
Checks handled
Collection items handled:
United States Government coupons paid
_
_
All other
United States securities—issues, redemptions, and exchanges by fiscal agency department
Transfers of funds

97,000
371,000

123,000
443,000

145,000
526,000

254,000
2,194,608,000
2, 691,184,000
862, 275,000

251,000
2,270, 555,000
2,929,091,000
887,997,000

196,000
2,427,330,000
3, 239,709,000
924,449,000

37,045,000
5,909,000

28,765,000
6,461,000

20,935,000
6,504,000

19,362,000
6,388,000

7,201,000
1,830,000

6,682,000
2,011,000

1,833,000
2,139,000

1,417,000
1,868,000

99,000
415,000
208,000
2,441,989,000
3, 325, 555,000
904,975,000

AMOUNTS HANDLED

Bills discounted
$31,934, 607, 000 $62,412,961,000 $60, 747,124,000 $14,067,117,000
Bills purchased in open market for
own account
4, 240,669,000
3, 587,478,000
4,050,867,000
3,873,698,000
Currency received and counted
13,315,551,000
14, 782,429,000 14,262, 809,000
12,939,578,000
Coin received and counted
'451,125,000
1432,131,000
537,534,000
••478,219,000
Checks handled
_
278,399,627,000 301,703,814,000 367,215,123,000 324,883,021,000
Collection items handled:
United States Government cou543,373,000
535,612,000
pons paid
499, 111, 000
553,703,000
7,528,014,000
Allother
_
7,185, 384,000
6, 710, 317,000 7,414,440,000
United States securities—issues, redemptions, and exchanges by fis9,002,383,000
7,018,844,000
cal agency department
10,803,043,000
7,245,189,000
Transfers of funds
136,383,899,000 148, 749,027,000 170, 789,669,000 198,880,880,000
' Revised.

Five of the reserve banks—New York, Philadelphia, Atlanta,
Minneapolis, and Dallas—reported sufficient net earnings to pay
accrued dividends in full, the remaining seven banks paying their
dividends entirely or in part out of surplus. The surplus of the 12
Federal reserve banks combined after the closing of the books at
the end of the year amounted to $274,636,000, a net reduction for
the year of $2,298,000, although the New York, Philadelphia, Minneapolis, and Dallas banks made some additions to their individual
surplus accounts, the latter two paying small franchise taxes. The
total subscribed capital of the Federal reserve banks at the end of
1930 amounted to $339,280,000, against $341,951,000 a year before.
Gross and net earnings during the year and the distribution of
net earnings of each Federal reserve bank are shown in the following
table:




15

ANNUAL REPORT OF THE FEDERAL, RESERVE BOARD
FINANCIAL RESULTS OF OPERATIONS OF THE FEDERAL RESERVE B A N K S

DURING

1930
Federal reserve bank
Boston
New York:___
Philadelphia..
Cleveland
Richmond
Atlanta
Chicago
St. Louis
MinneapolisKansas City..
Dallas
San Francisco

Net
earnings

Gross
earnings
$2,368,086
10,393,189
2,996,243
3, 585, 202
1,641,390
1,963,724
4,834,153
1,745,685
1, 235,082
1,667,667
1, 585,113
2,408, 510
36,424,044

Total—

BUILDING

$253,777
4,588,384
1,102,771
783,777
-28,797
323,307
1,054,328
1,114
193,589
-200,976
272, 597
-355,689

Dividends Transferred Franchise
tax
to surplus
paid
$705,949
4,013,779
1,002,602
952,934
353,472
323,307
1,211,418
315,839
184,445
259,397
262,510
682,946

7,988,182

OPERATIONS

OF FEDERAL

-$452,172
574,605
100,169
-169,157
-382,269
-157,090
-314,725
914
-460,373
1,009
-1,038,635

9,078

17,308

-2,297,724

RESERVE

BANKS

The building for the use of the Los Angeles branch, construction
of which was begun in 1929, was completed in 1930 and was occupied
on April 14.
On January 2, 1930, a site was purchased for a new building for
the Pittsburgh branch, and on April 14 the President signed a joint
resolution of Congress authorizing an expenditure of $875,000 for
the construction of the building proper, exclusive of the cost of
the vaults, permanent equipment, furnishings, and fixtures. Ground
was broken for the erection of the building on November 1, 1930.
During the year a site adjoining the Philadelphia building was
purchased to provide for future expansion, and construction of an
addition to the Kichmond building was under way at the end of
the year.
BRANCHES AND AGENCIES OF THE FEDERAL RESERVE BANKS

The 25 branches and 2 agencies of the Federal reserve banks
which were in operation at the end of 1929 continued to function
throughout 1930. As was the case for the system as a whole, the
volume of work handled by the branches and agencies in their
principal operating departments fell off somewhat in 1930. The
following table shows a comparison of the volume of work handled
in certain departments during the years 1927, 1928, 1929, and 1930:
VOLUME OF OPERATIONS OF FEDERAL RESERVE B A N K BRANCHES AND AGENCIES
1927
Checks handled:
Number of items
Amount
Currency received and counted:
Number of pieces
Amount
Coin received and counted:
Number of pieces
Amount
Revised.


r

1928

1929

1930

253,322,000
$64,724,395,000

268,814,000
$68,273,066,000

277,778,000
$72,034,805,000

265,300,000
$62,834,956,000

497,795,000
$2,801,165,000

535,352,000
$2,939,837,000

594,449,000
$3, 259,688,000

581,697,000
$3,106,716,000

441,072,000
$63,450,000

453,200,000
$67,949,000

466,152,000
•"$75,846,000

572,61L00O
$84,394,000

16

ANNUAL. REPORT OF THE FEDERAL RESERVE BOARD

Current expenses during 1930 of the branches and agencies in
operation during the year were $5,987,000, as compared with
$5,996,000 in 1929.
CHANGES IN MEMBERSHIP

During 1930 the number of member banks declined from 8,522 to
8,052, or by 470. Membership at the end of 1930 included 1,019
State banks, which was 100 less than a year earlier, and 7,033 national
banks, which represented a decrease of 370 for the year. As in other
recent years, the decline in the number of member banks resulted
largely from mergers between member banks, suspensions, and absorptions by nonmember banks.
Additions to membership during the year include 33 newly
organized national banks, as compared with 71 in 1929, 35 nonmember State banks which converted into national banks, and 18
State banks admitted to membership with State charters. There
were also 7 member banks which, having previously suspended operations, reopened during the year. The total of 93 banks added to
membership during the year does not, however, include 165 nonmember banks that were absorbed by member banks during the
year, although the assets of member banks were increased thereby.
The number of nonmembers absorbed the year before was 77.
Mergers between member banks account for a decrease of 199
in the number of such banks in 1930, as compared with a decrease of
171 in 1929. Suspensions account for a loss of 185 in the number of
member banks, as compared with 82 in 1929. A total of 134 member
banks were lost to membership through conversion into or absorption by nonmember banks; there were 39 voluntary withdrawals of
State banks from membership, 2 compulsory withdrawals, and 4 instances in which the existence of member banks was terminated
through voluntary liquidation.
In the following table changes in membership for the year 1930
are summarized, by class of member bank:




17

ANNUAL REPORT OF THE FEDERAL, RESERVE BOARD
CHANGES IN THE NUMBER OF NATIONAL AND STATE BANK MEMBERS DURING
AND 1929
1930

Procedure effecting change
National
Active member banks at beginning of year
Additions to membership:
Organization of national bank
Conversion of nonmember bank to national
Admission of State bank
Resumption following suspension
Conversion within the system.

33
35

1,119

18

Total
for
1929

8,522

8,837

33
35
18
7

71
24
27
5

_

5
2

2
3

75

Total additions
Losses to membership:
Merger between member b a n k National and national or State member and State
member
National and State member
Voluntary liquidation (terminal)
Suspension and insolvency
Absorption of member bank by nonmember bank
Conversion of member bank to nonmember bank
Withdrawal of State bank
Conversion within the system
__
Total losses

7,403

Total

State

1930

23

93

127

143
22
3
1159
96
19

15
19
1
26
13
6
241
2

158
41
4
185
109
25
141

132
39
3
82
95
49
42

3

123

563

442

—370
7,033

Net decrease
_. . _ _
Active member banks at end of 37ear

445

-100
1,019

—470
8,052

—315
8,522

1
Exclusive of 2 banks that suspended at the end of 1930 but which were included in the comptroller's
Dec. 31 abstract.
^Includes 2 compulsory withdrawals.

BANK EXAMINATIONS

The board, through its division of examination, conducted at least
one examination of each Federal reserve bank during the year; two
of the reserve banks were examined twice.
One banking corporation operating under provisions of section
25 (a) of the Federal reserve act, generally referred to as the Edge
Act, providing for banking corporations authorized to do foreign
banking business, was examined during the year.
Two banking corporations operating under an agreement with the
board, as provided for in section 25, were also examined during the
year.
BANK SUSPENSIONS

There were 1,345 bank suspensions in 1930, a larger number than
in any other year. Deposit liabilities of suspended banks were
$865,000,000, compared with $272,000,000, the highest previous figure,
which was recorded in 1926. The figures of deposits in failed banks
are not a measure of the amount of deposits lost by depositors, as they
do not take account of amounts received by them from time to time
from the receivers in charge of the liquidation of the suspended
banks. Of the 1,345 banks suspended during the year 1930, 187 were
members of the Federal reserve system and 1,158 were nonmember



18

ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD

banks. Banks reopened in 1930 numbered 147, with deposits of
$61,599,000.
The following table shows for 1930 the number and deposits of the
banks that suspended operations in selected States. The largest
number of failures during the year occurred in Arkansas, Illinois,
and Missouri.
BANK SUSPENSIONS IN SELECTED STATES DUEING
Number Deposits
(in milof suslions of
pensions dollars)

State

Arkansas
Illinois.
Missouri
North Carolina
Indiana
Iowa
North Dakota
South Dakota
IVIississiDDi

_

-

Nebraska
Kansas

135
126
104
93
90
86
60
54
52
44
43

47
63
20
57
38
31
5
11
27
10
11

Number
of suspensions

State

Florida
Texas —
Alabama .
Georgia _
Kentucky
Tennessee
South Carolina
All other States
Total

1930

_.

Deposits
(in millions of
dollars)

39
34
34
31
29
28
27
236

45
11
9
6
63
28
7
376

1,345

865

In 1930, as previously, the majority of bank failures was among
small banks. In the past year, however, some large institutions
closed their doors, one having as much as $160,000,000 in deposit
liabilities and two others of $38,000,000 and $35,000,000, respectively,
with the consequence that average deposits of suspended banks were
$640,000 in 1930, compared with $300,000 for the preceding nine
years.
BRANCH AND GROUP BANKING

During the first six months of 1930, while the aggregate number
of banks in the United States decreased, there was an increase in the
number of banks in chains or groups, as well as the number of branch
offices. On June 30, 1930, the number of banks in the United States
was smaller by 5,144 than six years earlier, but the number of
branches had increased by 1,325, so that the decrease in the total
number of banking offices was 3,819. During the first six months of
1930 there was a decrease of 778 in the number of banks and an
increase of 71 in the number of branches.
The group of 22 States in which the establishment of branches is
now prohibited lost 3,051 banking offices, nearly one-fifth of those
in existence at the beginning of the 6-year period. In the area where
state-wide branch banking is permitted, banking offices decreased by
287, or about one-twelfth, reflecting a decrease of 760 banks, offset
in part by an increase of 473 in branches. On the other hand, the
group of States in which branches are restricted as to location showed
a net increase in banking offices of 262, resulting from an increase of



ANNUAL BEPOBT OF THE FEDERAL RESERVE BOARD

19

860 branches, offset in part by a decrease of 598 in the number of
banks.
The increase in branch offices during the first six months of 1930
occurred chiefly in the home city or county, 43 of the increase of 71
being of this class. The comparatively restricted nature of branchbanking developments from a geographical point of view is reflected
in the fact that of the 3,618 branch offices in the country on June 30,
1930, only 720 were located outside of the home-office city or county,
of which 451 were in California, 58 in South Carolina, and 46 in
North Carolina.
Twenty-five large banks in seven cities—New York, Detroit, Los
Angeles, Cleveland, Boston, Buffalo, and New Orleans—each having
18 or more branches and all confining their branch activity to the
city, had among them nearly 1,000 branches, and of the nearly 900
branches operated by 16 large systems whose branch activities were
not so limited, more than one-fourth were within the home-office
city.
On June 30, 1930, there were 817 banks operating branches, 5 less
than six months earlier. Decreases in branch systems resulted from
20 mergers, 12 suspensions, and in 7 cases the discontinuance of
branches, offset in part by 32 new branch systems and the reopening
of 2 systems following suspension. The increase of 71 branch offices
resulted from the conversion of 62 banks into branches, the establishment of 89 branches de novo, and 2 resumptions following suspension—while 60 branch offices were discontinued and 22 were closed
with suspension of the parent bank.
At the end of June, 1930, branches were in operation in 30 States
and the District of Columbia—1,308 in the 9 States and the District
of Columbia which permit state-wide branch banking; 2,257 in the
12 States which restrict the establishment of branches to the home
city of the parent bank or territory nearly contiguous thereto; 52
in 8 States in which the further extension of branch banking is prohibited by State law; and 1 in the State of New Hampshire, where
there is no provision in State law regarding branch banking.
Two-thirds of the 3,618 branches in operation in June were located
in 5 States—California, New York, Michigan, Ohio, and Pennsylvania—while more than 100 branches were in operation in each of
4 other States—Massachusetts, New Jersey, Louisiana, and Maryland.
A large majority of the banks operating branches in June were
operating only one or two branches each. Of the 817 banks operating branches, 443, or more than one-half, were operating only 1
branch each, 144 were operating 2, and 132 were operating 3 to 5.
Of the 817 banks operating branches on June 30, 1930, 165 were
national banks with 1,041 branches, 169 were State member banks



20

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

with 1,308 branches, and 483 were nonmember State banks with
1,269 branches.
The group * banking movement gained 79 constituent banks during
the first six months of 1930, of which 53 banks were in new groups
and 127 were added to old groups. Partly offsetting these increases, groups lost 30 banks because of mergers, 24 because of suspensions, and 47 because of withdrawals, dissolutions, etc. The
2,144 constituent banks reported for June 30, 1930, belonged to 289
different group systems, there being one more group than at the end
of 1929. Although 12 new groups were formed during the 6-month
period, suspensions, mergers, etc., accounted for the disappearance of
11 groups.
While group-banking developments have not been generally restricted by provisions in State banking codes, the area within which
these developments have been more considerable in extent is composed largely of States which have prohibited the establishment of
branch-banking offices either by statute or by administrative policy,
as, for example, in Minnesota, North Dakota, Kansas, Iowa, Illinois, Oklahoma, and Texas. Developments of this character, however, have by no means been restricted to these States, as groups have
shown very considerable developments elsewhere, particularly in
several of the States—Michigan and New York, for example—which
have restricted the development of branch banking to the building
up of home-city or local branch systems, and in California, which
permits state-wide branch banking. There were, in fact, few States
in which no affiliation of banking institutions in group systems
was reported in June, 1930, and the group-banking area is in general much more extensive and less clearly defined than the branchbanking area.
1
The word " group " is used to include chains as well. Three types of chain or group
systems have been reported, which may be characterized with reference to the controlling
agency, as follows:
(1) Instances where control is exercised by a holding corporation, which has usually
been formed by interests connected with one or more of the principal banks belonging to
the system.
(2) Instances where control is exercised by the principal bank of the system, either
through direct ownership of stock by the bank or through ownership by the stockholders
or directors of the bank.
(3) Instances of ownership of controlling or substantial interest in a number of banks
by an individual, family, or group of individuals.
Recent developments have been conspicuously of the first and second types, and these
developments, commonly utilizing holding companies as controlling agencies, have been
distinguished in some discussions as " group systems," the designation of " chain systenr "
being reserved for organizations of the third type. These classifications by types of control are, however, very general, since the actual method and agency of control varies from
system to system and may in the case of any given system be modified from time to time.
In the board's compilations, only affiliations of 3 or more banks are classified as chain
or group systems. It follows that some single banks classified as independent unit banks
may be affiliated through stock ownership with other single banks.




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

21

During the six months' period the group movement showed a
gain of 12 banks in Illinois, 9 in Wisconsin, and 8 in Florida (3
States in which branches are prohibited by law), and of 11 banks
in Tennessee and 7 in Ohio (2 States in which branches are restricted as to location). In Iowa there were 14 fewer banks members of chains and groups than six months earlier.
Several of the large group systems in operation in June included
one or more banks operating branches, and while in some instances
all of the banking offices of the group were located within the confines of a single State, in other instances they were located in several
States. Forty-four important groups, none with less than 6 banks,
had among them 902 of the total number of 2,144 banks associated
with groups in the country as a whole. In addition, the members
of these large groups had 1,037 branches in all, of which 621 were
in the home-office city. One large group in the Northwest had as
many as 108 members, another in the Northwest 100, while an important group with its head office in New York City, operating
chiefly in California, reported 22 bank members having 475 branches.
BANK MERGERS

Mergers affecting members of the Federal reserve system, which
were numerous in 1929, were still more numerous in 1930. The merger
movement and bank suspensions taken together have served to reduce
the total number of banks in the United States by almost 5,000 in a
5-year period ending with June 30, 1930, wkile banking resources
were increasing by $12,000,000,000 to a total of $74,000,000,000. During these five years, therefore, the average size of banks, as measured
by total resources, increased from $2,152,000 to $3,074,000.
During the past five years there have been over 1,400 mergers
involving members of the Federal reserve system. The accompanying table brings out the fact that during the 5-year period the
national system lost to the State systems 419 banks, while gaining
through mergers 310 banks. In the year 1929 the national system
suffered numerous defections, some of which were associated with
unfavorable feeling toward national charters that arose from a
court decision concerning the continuity of fiduciary powers of
national banks. That this feeling has in part lost its force is
reflected in the fact that in the year 1930, for the first time in recent
years, the national system gained through mergers more banks than
it lost through mergers. During the year 1930 more outside banks
were absorbed by member banks than were lost to the Federal
reserve system by merger with nonmember institutions, although in
the 5-year period the net movement in this connection was in the
opposite direction.



22

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
MERGERS AFFECTING MEMBER BANKS, 1926-1930
Number of banks absorbed by mergers
Type of merger
1926

Total

1927

1928

1929

1930

164

National bank absorbed through merger:
Total
With national bank
>
-.
With State member bank
With nonmember bank
State member bank absorbed through merger:
Total
With national bank
With State member bank
With nonmfvnibftr bank

._

Nonmember bank absorbed through merger:
Total
With national bank
With State member bank

259

204

343

473

128
68
20
40

164
96
19
49

139
70
19
50

213
109
25
79

261
143
22
96

23
7
12
4

37
17
14
6

28
11
8
9

53
14
23
16

47
19
15
13

13
2
11

58
35
23

37
15
22

77
55
22

165
135
30

107
44
13

146
55
58

108
59
37

171
95
77

199
109
165

60
9

68
52

69
26

104
69

118
154

SUMMARY

Member bank absorbed by merger with member
Member bank absorbed by merger with nonmember..Nonmember bank absorbed by merger with member.
National bank absorbed by merger with State bank
State bank absorbed by merger with national bank

BANKS ON PAR LIST

At the end of 1930 there were 22,445 incorporated banks other
than mutual savings banks in the United States. Of this number,
19,008, or 84.7 per cent, were on the Federal reserve par list, which
comprises all member banks and such nonmember banks as have
agreed to pay, without deduction of exchange charges, such checks
drawn upon them as are presented or forwarded for payment by
the Federal reserve banks. During the year the number of nonmember banks decreased by 1,406, the number on the par list by
1,089, and the number not on the par list by 317. Of the 3,437
banks not on the par list at the end of 1930, 1,874 were located
in the Southern and 1,463 in the North Central States. As will
be seen from the following table, all of the banks in the Boston,
New York, and Philadelphia districts and all but nine in the Cleveland district were on the Federal reserve par list:




A N N U A L REPORT OF THE FEDERAL RESERVE BOARD

23

MEMBERS HIP I N P A B COLLECTION SYSTEM *
[Number of banks at end of December]
Member banks

Nonmember banks
On par list

Federal reserve district
1930

1930

1929

1930

1929

8,052

United States
Federal reserve district:
Boston
New York
Philadelphia
Cleveland
Rip.hmnnri
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
1

Not on par list

1929

.

-

8,522

10,956

12,045

3,437

3,754

396
914
753
757
470
390
1,081
513
642
871
684
581

404
931
764
795
514
428
1,186
571
683
893
746
607

260
395
451
936
523
186
3,200
1,404
497
1,917
572
615

271
404
476
991
577
254
3,485
1,670
582
2,096
605
634

9
441
862
238
417
1,007
191
211
61

9
546
926
229
477
1,101
197
207
62

Incorporated banks other than mutual savings banks.
TRUST ACTIVITIES OF NATIONAL BANKS

The Federal Keserve Board in 1930 approved 111 original and 21
supplementary applications by national banks for permission to exercise fiduciary powers under the provisions of section 11 (k) of the
Federal reserve act.
Since the first fiduciary permit was granted by the Federal Reserve Board to a national bank on February 25, 1915, continuous
growth has been shown each year until, at the close of 1930, 2,465
of these institutions had authority to administer trusts.
A list of national banks holding permits to exercise trust powers
on December 31,1930, will be found on pages 313-337.
CHANGES I N THE BOARD'S REGULATIONS

During the year 1930 the provisions of the board's regulations
were amended in a number of particulars. Some of these changes
were made in order to bring the terms of the regulations into conformity with the provisions of recent amendments to the law, while
other amendments were adopted because experience had proven them
to be necessary or desirable.
Regulation A—Discounts under sections 13 and 13 (a).—The board
adopted a number of amendments to its Regulation A with regard to
rediscounts by Federal reserve banks, in order to make the provisions of the regulation conform to the following recent amendments
to the law: (1) The act of May 29, 1928, which authorized the rediscount of sight drafts when drawn to cover the shipment of nonagricultural, nonperishable, readily marketable staples, as well as nonperishable, readily marketable staple agricultural products, and when
33454—31
3



24

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

drawn to finance the exportation of such staples as well as the
domestic shipment thereof; (2) the act of June 17, 1929, authorizing
the Secretary of the Treasury to issue Treasury bills and providing
that the words " bonds and notes of the United States " and similar
phrases as used in the Federal reserve act shall be held to include
certificates of indebtedness and Treasury bills; (3) the act of April
12, 1930, which amended the law so as to make the limitations upon
the amount of eligible paper of one borrower which may be rediscounted by a Federal reserve bank for a member bank conform to
the limitations of section 5200 of the Revised Statutes as to the
amount which a national bank may lend to a single borrower.
Regulation D—Reserves of member banks.—This regulation was
amended so as to provide that in computing penalties for deficiencies
in reserves the required reserve balance of each member bank at the
close of business each day shall be based upon its net deposit balances at the opening of business, instead of the close of business, on
the same day. No change, however, was made in the existing practice of computing such deficiencies on the basis of average daily
net deposit balances covering semiweekly, weekly, or semimonthly
periods.
Regulation F—Trust powers of national banks.—Pursuant to the
act of June 26, 1930, providing for the voluntary surrender of fiduciary powers by national banks, the board amended its Regulation
F so as to outline the steps which should be taken by a national
bank desiring to give up its trust powers and setting forth the
requirements of the board before granting a certificate to the bank
certifying that it is no longer authorized to exercise such powerso
Regulation H—Membership of State banks and trust companies.—
Pursuant to the act of April 17, 1930, providing for the waiving by
the Federal Reserve Board of the six months' notice prescribed for
State banks voluntarily withdrawing from the Federal reserve system, the board amended its Regulation H by adding a new section
on the subject of voluntary withdrawals of State member banks.
This amendment consists principally of a paraphrase of the relevant
provisions of the law as amended and a statement of the procedure
to be followed in cases of voluntary withdrawal of State member
banks including cases where the six months' notice is waived.
Regulation I—Federal reserve bank stock.—The board amended
its Regulation I so as to prescribe a procedure to be followed in
cases arising under the act of Congress of April 23, 1930, which
authorized the Comptroller of the Currency to appoint a receiver
for a national bank which has discontinued banking operations for
60 days without going into liquidation and for which a receiver
has not already been appointed, and which also authorized the Fed


ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD

25

eral Eeserve Board to forfeit the membership of a State member
bank which has ceased to exercise banking functions without a
receiver or liquidating agent having been appointed. Regulation
I was also amended so as to clarify the question as to the amount of
Federal reserve bank stock to which a member bank is entitled in a
case where it has first reduced its surplus but subsequently has
increased it.
Regulation J—Check clearing and collection.—The board adopted
a number of amendments modifying or clarifying the provisions of
its Regulation J with regard to the collection of checks by Federal
reserve banks, the more important changes being in that section of
the regulation which prescribes the terms upon which Federal reserve
banks will receive and handle such checks for collection.
Regulation K—Banking corporations authorized to do foreign
hanking business.—The board amended its Regulation K with respect
to the requirements as to titles of corporations organized to do a
foreign banking business under the terms of section 25 (a) of the
Federal reserve act. The regulation prior to the amendment required that the title of every such corporation include the word " foreign " or the word " international" and should not include the word
" bank." As amended, however, an exception is made to this require*
ment by providing that with the permission of the Federal Reserve
Board a corporation which is closely affiliated with a bank and which
is organized or operated for the purpose of transacting the foreign
banking business of such bank may include the word " bank " in its
corporate title and need not include the word " foreign " or the word
" international."
Regulation L—Interlocking bank directorates under the Clayton
Act.—This regulation was amended so as to bring its provisions into
conformity with the act of March 2,1929, exempting from the provisions of the Clayton Act joint-stock land banks and other banking
institutions which do no commercial banking business.
The complete text of the Federal Reserve Board's Regulations A
to L, as they existed on December 31, 1930, will be found on pageg
232-272.
AMENDMENTS TO THE FEDERAL RESERVE ACT

Amendments to a number of the provisions of the Federal reserve
act were enacted during the year 1930.
Limitations upon rediscounts for one borrower.—By act of Congress approved April 12, 1930, section 13 of the Federal reserve
act was amended so as to make the limitations therein on the amount
of eligible paper of any one borrower which may be rediscounted by
a Federal reserve bank for a member bank conform to the limita*
tions of section 5200 of the Revised Statutes as amended with regard
to the amount which a national bank may lend to a single borrower.




26

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

Waiver of notice of withdrawal,—By act of Congress approved
April 17, 1930, section 9 of the Federal reserve act was amended so
as to authorize the Federal Reserve Board, in its discretion and subject to such conditions as it may prescribe, in individual cases to
Waive the six months' notice prescribed for State member banks
withdrawing from the Federal reserve system and to permit any such
bank to withdraw from membership prior to the expiration of six
months from the date of such notice.
Banks which have discontinued operations.—By act of Congress
approved April 23, 1930, section 6 of the Federal reserve act was
amended so as to authorize the Comptroller of the Currency to
appoint a receiver for a national bank which has discontinued its
banking operations for 60 days, but which has not gone into liquidation and for which a receiver has not already been appointed for
other lawful cause; and it is further provided that the stock held
by the national bank in the Federal reserve bank shall thereupon be
canceled and proper refund made. By the same act of Congress
section 9 of the Federal reserve act was amended so as to authorize
the Federal Eeserve Board, after hearing, to forfeit the membership of a State member bank of the Federal reserve system which
has ceased to exercise banking functions without a receiver or
liquidating agent having been appointed therefor.
Costs of examination of member banks.—By act of Congress
approved June 26, 1930, section 9 of the Federal reserve act and
section 5240 of the United States Revised Statutes, as amended by
section 21 of the Federal reserve act, were amended so as to enable
the Federal Reserve Board in its discretion to decide whether the
costs of examinations of member banks of the Federal reserve
system made by the Federal Reserve Board or by the Federal reserve
banks should be assessed against the banks examined. The previous
law had required that the costs of all such examinations be assessed
against the banks examined. It is also provided under the law as
amended that copies of reports of examinations of State member
banks may, in the discretion of the Federal Reserve Board, be
furnished to the State banking authorities.
Yolimtary surrender of trust powers.—By act of Congress approved June 26, 1930, a procedure is provided whereby a national
bank which has been authorized to exercise fiduciary powers, pursuant to the provisions of section 11 (k) of the Federal reserve act,
may surrender those powers if it so desires, in order to relieve itself
from the necessity for a further compliance with the requirements
of that section or to have returned to it any securities which it may
have deposited with the State authorities for the protection of private or court trusts or for any other purpose. Under the law as
amended, when a national bank has signified to the Federal Reserve



ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD

27

Board a desire to surrender its trust powers the board is authorized
in its discretion to issue a certificate that the bank no longer has
authority to exercise fiduciary powers, and it is specifically provided
that upon the issuance of this certificate the bank is entitled, among
other things, to have returned to it any securities which it may have
deposited with the State authorities for the protection of private or
court trusts.
Election of Federal reserve hank directors.—By act of Congress
approved June 26, 1930, that part of section 4 of the Federal reserve act providing the method of counting ballots in elections of
Class A and Class B directors of Federal reserve banks was amended
so as to clarify the meaning of the phrase " electors voting " appearing in the statute. Under the previously existing law it was provided that member banks voting in elections of Class A and Class B
directors shall indicate their first, second, and other choices, and
if no candidate have a majority of first-choice votes the secondchoice votes shall be added to the first-choice votes, and if any candidate then have a majority of the " electors voting " he shall be
declared elected; if not, votes for first, second, and other choices
shall be added together and the candidate then having the highest number of votes shall be declared elected. In a case where pursuant to the statute it had become necessary to add together the
first-choice and second-choice votes and as a result several candidates had a majority of "electors voting," serious doubt arose on
the question whether that candidate having the highest number of
first and second choice votes combined should be declared elected
or whether in such case votes for first, second, and other choices
should be added together and the candidate then having the highest number of votes declared elected. To eliminate this doubt, the
statute was amended so as to provide that when first and second
choice votes have been added together the candidate then having a
" majority ofl the electors voting and the highest number of combined votes" shall be declared elected; if no candidate then have
a majority of electors voting and the highest number of combined
votes, third-choice votes shall be added in, as provided under the
law previously.
ADMINISTRATION OF THE CLAYTON ACT

Pursuant to the provisions of section 8 of the Clayton Antitrust
Act, during the year 1930 applications for permits authorizing
interlocking bank directorates numbering 416 were received and
considered by the Federal Eeserve Board. The board also investigated 100 alleged violations of this law which were reported to it



28

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

by the Comptroller of the Currency, and required the bank directors involved to comply with the law where it was being violated.
MEETINGS OF FEDERAL ADVISORY COUNCIL

Four meetings of the Federal advisory council were held in Washington during 1930 on the following dates: February 18, May 20,
September 16, and November 18.
CONFERENCES HELD BY THE FEDERAL RESERVE BOARD

The Federal Eeserve Board, as usual, conferred with the Federal
advisory council on the occasion of its meetings during the year.
The governors of the Federal reserve banks and the Federal
reserve agents met in Washington on September 24-25 and conferred separately and jointly. At both conferences special sessions
were held at which the board was in attendance.
ORGANIZATION, STAFF, AND EXPENDITURES

Roy A. Young, who had held the office of governor of the Federal
Reserve Board since October 4, 1927, resigned on September 1, 1930,
and on September 2 became governor of the Federal Reserve Bank of
Boston.
Edmund Platt, who had been a member of the Federal Reserve
Board since June 8, 1920, and its vice governor since July 23, 1920,
resigned on September 15, 1930.
On September 16,1930, Eugene Meyer, of New York, was appointed
a member of the Federal Reserve Board to fill the vacancy created
by the resignation of Vice Governor Platt, and was designated as
governor of the board.
Edward H. Cunningham, a member of the Federal Reserve Board
since May 14, 1923, died on November 28, 1930.
The total cost of conducting the work of the board during the
year 1930 was $778,759.94. Two assessments were levied against
the Federal reserve banks aggregating $809,585.34, or less than onefifth of 1 per cent of their average paid-in capital and surplus for
the year.




FEDERAL RESERVE BANK CREDIT




29

RESERVE BANK CREDIT AND FACTORS IN CHANGES
No, 1.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, ANNUAL AVERAGES,

1918-1930
[Averages of daily figures. In millions of dollars]
Reserve bank credit outstanding
Year

1918.
1919.
1920
1921__
1922.
1923
1924__
1925._
1926-.
1927._
1928.
1929
1930

Bills
discounted

-

1,134
1,906
2,523
1,797
571
736
372
481
568
442
840
951
272

Bills
bought

United
States
securities

287
324
385
91
159
227
172
287
281
263
328
241
213

134
254
324
264
455
186
402
359
350
417
297
208
564

Factors of
decrease *

Other
Mone- Treasreserve Total tary- ury currency
gold
bank
(adstock
credit2
justed)
168
141
158
46
41
56
50
68
59
53
40
59
38

1,723
2,625
3,390
2,198
1,226
1,205
996
1,195
1,258
1,175
1,505
1,459
1,087

3,158
3,129
2,869
3,291
3,802
4,061
4,439
* 4,381
4,452
4,564
4,206
4,283
4,460

1,477
1,251
1,401
1,501
1,604
1,736
1,757
1,755
1,743
1,774
1,783
1,785
1,781

Factors of increasei
Mem- NonMoney ber
in cir- bank member
cula- reserve deposbal- its, etc.
tion
ances
4,658
5,016
5,478
4,950
4,535
4,822
4,879
'4,869
4,932
4,892
4,783
4,763
4,532

1,497
1,719
1,835
1,671
1,781
1,873
2,023
2,167
2,209
2,290
2,355
2,358
2,379

108
115
67
28
30
27
27
31
28
31
29
30
28

i For explanation see Federal Reserve Bulletin for July, 1929, pp. 432-438.
* Includes Government overdrafts in 1918, 1919, and 1920; see Table 5.
' Revised.




31

Unexpended
capital
funds

95
155
280
341
286
280
263
264
284
300
327
376
380

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 2.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES,

1918-1930
[Averages of daily figures. In millions of dollars]
>
Reserve bank credit outstanding

Month

Factors of
decrease *

Factors of increase1

Mem- Non- UnexTreasber
Other
Mon- ury Money bank mem- pendBills Bills United reetary cur- in cir- reber
States
ed
dis- bought securi- serve Total gold rency culade- capibank
counted
stock (adtion serve posits, tal
ties credit 2
balusted)
ances etc. funds

1918—January
February
March...
April
May
June
July
August..
September
October
November
December

612
529
537
751
897
939
1,162
1,333
1,604
1,683
1,760
1,765

266
288
315
313
278
239
208
217
249
354
374
346

149
185
271
173
86
97
65
53
67
123
130
214

143
141
140
144
151
279
196
147
153
195
152
166

1,170
1,143
1,263
1,381
1,412
1,554
1,631
1,750
2,073
2,355
2,416
2,491

3,152
3,159
3,162
3,163
3,163
3,162
3,161
3,157
3,156
3,151
3,155
3,156

1,563
1,589
1,583
1,563
1,521
1,471
1,392
1,439
1,411
1,402
1,378
1,418

4,306
4,280
4,373
4,423
4,401
4,448
4,520
4,666
4,911
5,134
5,183
5,243

1,467
1,468
1,466
1,504
1,482
1,512
1,448
1,459
1,507
1,539
1,520
1,586

36
63
85
95
126
138
124
126
121
130
131
117

76
80
84
85
87
89
92
95
101
105
115
119

1919—January
February
March.
April
May
June
July.... """"
August...
September
October.
November
December

1,731
1,765
1,863
1,920
1,976
1,840
1,864
1,798
1,776
2,068
2,140
2,115

278
274
261
207
187
247
358
372
351
343
455
549

200
186
195
213
228
236
249
270
341
296
307
327

150
116
161
111
107
144
128
119
168
140
136
212

2,359
2,341
2,480
2,451
2,498
2,467
2,599
2,559
2,636
2,847
3,038
3,203

3,160
3,162
3,161
3,166
3,176
3,169
3,087
3,114
3,143
3,120
3,070
3,021

1,400
1,286
1,207
1,277
1,233
1,231
1,207
1,248
1,254
1,209
1,230
1,239

5,050
4,932
4,942
4,970
4,941
4,891
4,896
4,913
4,989
5,106
5,208
5,342

1,635
1,612
1,652
1,656
1,686
1,696
1,719
1,740
1,769
1,793
1,837
1,820

118
114
123
126
135
133
121
104
108
99
97
100

116
131
131
142
145
147
157
164
167
178
196
201

1920—January.
February
March
April..
May
June
July...
August...
September.
October
November
December

2,136
2,297
2,377
2,431
2,536
2,456
2,513
2,596
2,667
2,780
2,762
2,718

570
541
480
413
411
400
362
324
310
303
276
242

326
309
344
332
302
347
319
304
339
305
320
339

173
167
212
188
136
179
150
129
179
134
109
143

3,205
3,314
3,413
3,364
3,385
3,382
3,344
3,353
3,495
3,522
3,467
3,442

2,961
2,909
2,859
2,821
2,835
2,854
2,862
2,855
2,847
2,855
2,873
2,894

1,256
1,241
1,338
1,409
1,412
1,426
1,454
1,456
1,429
1,468
1,475
1,458

5,231
5,285
5,398
5,372
5,414
5,448
5,478
5,509
5,600
5,673
5,662
5,658

1,883
1,858
1,878
1,870
1,853
1,853
1,840
1,807
1,817
1,815
1,782
1,758

98
94
98
106
103
88
54
46
38
27
27
25

210
227
236
246
262
273
288
302
316
330
344
353

1921—January
February
March.
April
May
June
July....
August
September
October
November
December

2,523
2,400
2,297
2,129
1,959
1,811
1,719
1,548
1,442
1,371
1,228
1,180

200
169
137
110
84
54
26
38
40
56
79
105

298
287
296
277
303
302
261
249
254
207
208
226

89
62
68
48
40
44
43
28
31
35
29
37

3,110
2,918
2,798
2,564
2,386
2,211
2,049
1,863
1,767
1,669
1,544
1,548

2,931
2,975
3,040
3,117
3,197
3,254
3,305
3,392
3,479
3,547
3,595
3,643

1,463
1,435
1,411
1,427
1,485
1,508
1,513
1,508
1,510
1,534
1,575
1,577

5,401
5,263
5,204
5,078
5,042
4,936
4,857
4,771
4,752
4,721
4,673
4,718

1,773
1,728
1,694
1,665
1,657
1,664
1,639
1,621
1,629
1,652
1,663
1,673

24
26
31
34
32
31
27
26
27
26
28
27

306
311
320
331
337
342
344
345
348
351
350
350

238
98
962
4,527
28 1,326 3,672 1,551
1922—January
357
4,451
88
19 1,233 3,704 1,521
769
February
92
459
4,483
18 1,207 3,736 1,576
638
March
520
4,482
93
25 1,210 3,756 1,572
572
April
4,450
103
603
479
23 1,208 3,768 1,576
May
4,429
591
136
28 1,192 3,776 1,600
437
June
153
547
4,443
45 1,170 3,803 1,595
425
July
159
497
4,448
50 1,102 3,840 1,613
396
August
212
4,552
486
65 1,180 3,860 1,630
417
September
4,643
252
448
60 1,246 3,884 1,657
486
October
4,671
260
325
57 1,265 3,896 1,650
623
November
380
259
4,827
660
78 1,377 3,917 1,690
December
*For explanation see Federal Reserve Bulletin for July, 1929, pp. 432-438*
* Includes Government overdrafts in 1918, 1919, and 1920; see Table 5,

1,707
1,689
1,711
1,733
1,783
1,820
1,812
1,799
1,811
1,836
1,825
1,840

29
34
39
40
37
34
28
25
23
21
27
28

286
284
286
283
282
285
285
283
284
287
288
289




33

RESERVE BANK CREDIT

No. 2.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES,

1918-1930—Continued
[Averages of daily figures. In millions of dollars]
Reserve bank credit outstanding

Month

1923—January
February..
March
April
May
June
July
August
September.
October
November.
December.

Factors of

Factors of increase

Mem- NonTreasUnex.
Other
ber
Mon- ury Money bank mem- pendBills Bills United reetary- cur- in cir- reStates
ber
ed
disTotal gold rency culadecapicounted bought securi- bank
stock (adtion serve posits, tal
ties credit
baljusted)
etc. funds
421
356
316
229
193
153
97
90
102
91
83
106

1,249
1,205
1,228
1,214
1,222
1,178
1,179
1,127
1,184
1,204
1,204
1,260

3,945
3,960

658
705
741
834
809
845
873
799
771

218
190
234
272
271
224
186
175
174
185
265
324

1924—January
February..
March
April
May
June
July
August
September.
October...
November.
December.

574
514
476
489
433
370
315
268
262
240
228
301

300
273
228
170
80
50
44
30
92
180
268
358

118
135
244
274
324
416
467
539
575
585
588
554

1925—January...
February..
March
April
May
June
,
July
August
September.
October
November.
December..

267
340
390
403
397
437
480
545
594
619
597

329
314
298
287
279
263
231
205
226

1926—January
February...
March
April
May
June
July
August
September.
October
November..
December..

520
526
557
537
511
473
549
555
640
663
615

1927—January
February,..
March
April
May
June
July
August
September.
October
November..
December..

481
393
425
447
473
429
454
409
422
424
415
529

547

' Revised.




3,975
3,993
4,040
4,061
4,097
4,123
4,155
4,182
4,226

1,724
1,709
1,690
1,711
1,740
1,738
1,743
1,747
1,745
1,753
1,757
1,771

4,679
4,672
4,713
4,731
4,764
4,779
4,812
4,833
4,901
4,941
4,953
5,071

1,918
1,901
1,873
1,869
1,874
1,867
1,867
1,835
1,848
1,864
1,875
1,882

275
276
276
279
281
282
280
281
281
284
284
282

1,041
955
990
981
879
886
879
881
983
057
,135
1,288

4,266
4,302
4,340
4,383
4,433
4,471
4,503
4,516
4,515
4,506
4,517
4,507

1,750
1,759
1,747
1,720
1,766
1,759
1,763
1,763
1,763
1,755
1,771
1,768

4,847
4,832
4,870
4,886
4,866
4,830
4,810
4,800
4,853
4,891
4,970
5,088

1,911
1,892
1,915
1,905
1,922
2,001
2,046
2,072
2,120
2,141
2,164
2,182

274
270
270
270
266
264
261
255
257
259
259
261

464
384
376
355
361
345
338
329
335
328
332
359

,125
, 094
:,122
,110
,100
,118
,118
:,143
, 227
,321
1,352
1,507

4,468
'4, 392
•4,340
4,340
•4, 353
•4, 360
•4,361
•4,372
4,386
4,391
4,407
4,397

1,765
1,778
1,782
1,769
1,762
1,744
1,764
1,742
1,749
1,737
1,735
1,740

4,863
r 4,805
••4,814
' 4,803
' 4, 791
r 4, 790
r 4, 794
' 4,817
4,908
4,945
4,960
5,119

2,194
2,159
2,137
2,123
2,132
2,141
2,160
2,151
2,161
2,203
2,221
2,219

258
258
263
266
264
266
262
264
267
271
272
274

305
268
234
232
243
230
245
265
295
348
385

335
336
371
398
408
380
353
316
306
302
322

1,279
1,218
1,216
1,204
1,200
1,185
1,221
1,203
1,278
1,322
1,318
1,445

4,407
4,425
4,444
4,448
4,434
4,438
4,460
4,467
4,471
4,472
4,477
4,481

1,744
1,719
1,707
1,722
1,744
1,771
1,753
1,755
1,750
1,746
1,755
1,749

4,891
4,854
4,864
4,882
4,871
4,881
4,916
4,912
4,969
5,001
5,005
5,131

2,236
2,208
2,198
2,183
2,199
2,206
2,212
2,201
2,211
2,219
2,214
2,218

273
274
278
283
282
284
281
285
289
293
205
294

343
304
253
248
233
205
190
173
216
282
336
378

310
307
345
341
291
398
381
439
501
506
579

1,186
1,043
1,055
1,087
1,041
1,081
1,115
1,093
1,187
1,254
1,377
1,568

4,527
4,576
4,595
4,601
4,651
4,606
4,575
4,585
4,584
4,566
4,490
4,416

1,760
1,757
1,767
1,761
1,768
1,777
1,780
1,780
1,776
1,776
1,790
1,796

4,903
4,843
4,856
4,879
4,860
4,831
4,851
4,849
4,917
4,934
4,936
5,048

2,243
2,212
2,240
2,248
2,262
2,301
2,289
2,283
2,300
2,326
2,373
2,399

294
295
298
299
299
298
297
296
300
302
304
306

34

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No# %•—RESERVE

BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES,

1918-1930—Continued
[Averages of daily figures. In millions of dollars]
Reserve bank credit outstanding

Month

Factors of
decrease

Mem- Non- UnexTreasber
Other
Mon- ury Money bank mem- pendBills Bills United reetary cur- in cir- reStates
ed
ber
s
dis-" bought securi- serve Total gold rency culacapidecountt ed
bank
stock (adtion serve posits, tal
ties
balcredit
justed)
ances etc. funds
2,426
2,368
2,365
2,396
2,388
2,355
2,324
2,274
2,314
2,332
2,352
2,367
4,748 2,387
1,789
4,686 2,357
1,784
4,709 2,337
1,791
4,679 2,308
1,785
4,684 2,296
1,787
4,687 2,314
1, 779
4,764 2,334
1,790
4,777 2,322
1,781
4,811 2,335
1,766
4,810 2,386
1,785
4,845 2,521
1,789
4,943 2,395
1,797
4,652 2,349
1,784
1,781 • 4,554 2,305
1,797 • 4,532 2, 330
4, 518 2,350
1,781
4,497 2, 356
1,779
4,489 2,392
1,775
4,483 2,417
1,789
4,476 2,392
1,787
4,493 2,397
1,785
4,501 2,407
1,787
4, 528 2,433
1,793
4,823 2,415
1.793

1928—January ___.
February...
March
April
May
June
July
August
September.
October
November..
December..

465
471
513
661
836
1,019
1,090
1,061
1,064
975
897
1,013

373
360
343
358
349
244
185
178
226
368
471
483

512
406
415
351
257
232
213
210
240
237
238
263

38
27
24
35
30
36
43
36
51
41
47
65

,264
[,295
1,405
, 472
[,531
,531
,485
,581
,621
,653
1,824

4,377 1,778
4,373 1,776
4,335 1,781
4,287 1,778
4,207 1,779
4,119 1,791
4,113 1,782
4,118 1,774
4,125 1,787
4,133 1,786
4,151 1,787
4,142 1,790

1929—January
February...
March
April
May
June
July.
August
September.
October
November.
December.

859

473
385
265
156
145
99
75
124
229
337
296
320

229
184
197
165
153
179
147
155
165
154
315
446

52
44
50
52
49
61
62
54
64
74
67
74

1,613
1,502
1,481
1,377
1,303
1,317
1,380
1,376
1,427
1,450
1,631
1,643

4,115
4,143
4,166
4,226
4,292
4,311
4,335
4,351
4,368
4,381
4,374
4,324

314
285
246
266
182
141
154
153
197
185
184
257

485
480
540
530
529
571
583
599
597
602
599
644

1,357
1,181
1,095
1,072
996
1,000
1,003
998
1,016
1,020
1,033
1,273

4,283
4,317
4,394
4,443
4,505
4,528
4,532
4,496
4,503
4,520
4,553
4,583

1930—January...
February..
March
,
April
May
_
June
July
August
September.
October
November.
December,
r

Factors of increase

1,004
956
978
1,096
1,043
969
885
953
501
378
274
231
247
251
226
214
189
196
221
338

Revised.




4,785
4,709
4,710
4,730
4,722
4,736
4,746
4,743
4,804
4,836
4,860
5,008

27
26
24
27
27
28
30
28
«88
30
32
29

305
310
312
317
321
322
326
332
337
342
347
352

31
29
31
35
32
30
31
27
28
28
33
27

351
357
361
366
370
376
376
382
387
392
395
399

29
27
27
28
29
27
35
28
26
27
30
27

394
393
397
400
398
395
389
385
390
392
388
384

35

RESERVE BANK CREDIT

No. 3.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, WEEKLY AVERAGES
[Averages of daily figures. In millions of dollars]
Reserve bank credit outstanding
Week
ending
(Saturday)—

1930
Jan. 4
Jan. 1 1 . - .
Jan.18.-.
Jan.25-_.
Feb. 1 . . . .
Feb. 8 —
Feb. 15—
Feb. 22...
Mar.
Mar.
Mar.
Mar.
Mar.

1—_
8—.
15...
22...
29...

Apr.
Apr.
Apr.
Apr.

5
12...
19—
26—

May 3 — .
May 10—
May 17—
May 24...
May 31—
June 7
June 14...
June 2 1 . . .
June 28—
Julyfi
July 12...
July 19...
July 2 6 . . .
Aug. 2
Aug. 9
Aug. 16—.
Aug. 23—.
Aug. 30—
Sept. 6..-.
Sept. 13...
Sept. 20...
Sept. 27...
Oct. 4
Oct. 11-...
Oct. 18.-..
Oct. 25_...
Nov. 1
Nov. 8

Nov. 15—
Nov. 22....
Nov. 29....
Dec. 6
Dec. 13....
Dec. 2 0 — .
Dec. 2 7 — .

United Other
Bills
Bills States reserve
disbank Total
counted bought secur- credit
ities

702
571
461
433
415
393
390
366
360
329
267
246
230
249
242
220
228
252
263
226
222
263
262
231
244
257
282
252
213
196
213
245
202
199
200
223
187
169
170
205
189
197
195
204
220
198
214
246
269
293
353
423

333
319
292
273
290
276
282
289
261
238
209
261
292
271
285
251
210
184
173
180
180
185
149
127
110
145
155
166
151
134
137
159
159
162
177
198
207
200
195
200
164
189
203
176
172
216
249
254
262

511
489
481
477
477
478
479
481
482
494
554
593
528
532
528
533
528
529
528
528
529
529
540
567
596
578
595
589
581
574
574
589
607
603
602
602
592
595
601
599
601
602
602
602
602
601
596
597
604
617
678
644

57
64
64
56
39
41
41
39
34
42
36
30
34
44
33
57
47
42
43
44
33
27
34
37
43
31
54
43
43
32
29
34
34
31
29

1,650
1,457
1,325
1,258
1,204
1,202
1,186
1,168
1,165
1,126
1,095
1,078
1,053
1,117
1,074
1,095
1,054
1,033
1,018
971
964
999
1,021
984
1,010
976
1,076
1,039
1,003
953
950
1,005
1,002
992
1,040
1,014
1,008
997
1,038
1,Q25
1,038
1,007
992
1,038
1,038
1,018
1,037
1,115
1,179
1,325
1,386

Backfigures.—SeeAnnual Report for 1929 (Tabl« 3).
r
Revised.




Factors of decrease
Monetary
gold
stock

4,282
4,277
4,282
4.285
' 4,289
'4,299
••4,311
' 4,326

Mem- NonTreasber
Unex-1
ury cur- Money bank mem- pended
in cirrency cula- reserve ber decapital
(adbal- posits, funds i
justed) tion
etc.
ances
1,786
1,786
1,791
1,785
1,775
1,788
1,798
1,771

' 4,342 1,765
' 4,362 1,797
'4,387 1,810
4,407 1,805
4,419 1,786
4,427
4,435
4,439
4,449
4,481
4,496
4,502
4,512
4,516
4,522
4,526
4,529
4,533
4,536
4,537
4,538
4,528
4,513
4,497
4,492
4,493
4,501
4,501
4,502
4,504
4,503
4,508
4,515
4,519
4,522
4,530
4,536
4,549
4,559
4,567
4,572
4,577
4,586
4,590

Factors of increase

1,772
1,781
1,786
1,780
1,780
1,781
1,798
1,772
1,769
1,781
1,782
1,774
1,764
1,783
1,783
1,796
1,793
1,784
1,784
1,788
1,788
1,791
1,783
1,793
1,802
1,771
1,782
1,789
1,783
1,783
1,793
1,793
1,800
1,789
1,787
1,783
1,794
1,810
1,787

4,866
4,722
4,629
4,586

' 4,549
r
4,560
' 4,563
' 4,549
'4,546
' 4,562
' 4,534
4,517
4,505
4,540
4,529
4,531
4,500
4,502
4,508
4,484
4,475
4,507
4,509
4,489
4,482
4,468
4,555
4,526
4,470
4,436
4,433
4,466
4,470
4,475
4,486
4,526
4,493
4,481
4,469
4,517
4,521
4,520
4,482
4,467
4,506
4,498
4,513
4,580
4,638
4,730
4,870
4,977

2,425
2,374
2,348
2,320
2,299
2,312
2,308
2,296
2,307
2,303
2,337
2,348
2,326
2,350
2,337
2,358
2,354
2,361
2,356
2,359
2,348
2,355
2,393
2,382
2,408
2,381
2,412
2,410
2,441
2,414
2,398
2,402
2,396
2,386
2,387
2,387
2,403
2,414
2,385
2,395
2,391
2,395
2,414
2,430
2,435
2,465
2,439
2,403
2,420
2,409
2,440
2,376

32
31
28
29
26
25
33
26
25
27
28
28
27
27
26
31
29
30
31
28
27
26
27
26
27
28
37
34
36
35
30
30
29
27
26
26
27
28
25
25
25
34
25
27
35
33
28
25
27
27
27
26

395
393
393
393
394
392
391
394
391
393
393
397
400
398
398
400
40C
4Q1
400
400
398
39ff
395
396
396
396
391
389
386
38S
387
385
386
385
386
391
392
391
391
391
391
391
386
383
385
384
384
38*

36

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No.

4.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, BY WEEKS

(WEDNESDAY SERIES), 1929-30
[In millions of dollars]
Unexpended capital
funds, nonmember
d i t
t
Other
Date
Bills Bills United reserve
States
(Wednessecuri- bank
day)
counted bought ties credit

Total Monereserve tarybank
gold
credit stock
JLal

1929
Jan.2
Jan. 9
Jan. 16—.
Jan. 23....
Jan. 30—.
Feb. 6.—
Feb. 13—
Feb. 20—
Feb. 27—

1,910
1,638
1,604
1,472
1,485

4,127
4,120
4,108
4,117
4,128

1,777
1,792
1,783
1,791
1,789

4,933
4,762
4,697
4,643
4,630

37
15
37
32

1,500
1,487
1,431
1,484

4,127
4,150
4,151
4,154

1,782
1,790
1,789
1,781

4,640
4,672
4,669
4,670

163
165
185
170

44
49
36
27

1,501
1,453
1,401
1,429

4,158
4,160
4,170
4,174

4,691
4,665
4,654
4,667

175
157
141
141

169
166
161
150

51
28
53
32

1,425
1,315
1,349
1,298

986
962
915
904
988

170
157
146
138
118

151
149
156
153
145

59
46
52
28
36

1,366
1,314
1,269
1,223
1,287

4,188
4,221
4,235
4,245
4,266
4,289
4,299
4,300
4,302

1,772
1,802
1,811
1,787
1,791
1,806
1,762
1,775

June 26...

977
934
959
1,017

113
114
87
83

147
170
139
150

66
50
67
44

1,303
1,268
1,252
1,294

4,303
4,305
4,314
4,327

July 3 . . . .
July 10...
July 17...
July 24...
July 3 1 . . .

1,125
1,153
1,084
1,064
1,076

74
66
68
69
75

141
136
153
146
147

91
55
66
50
49

1,431
1,410
1,371
1,329
1,347

Aug. 7.—
Aug. 14...
Aug. 21...
Aug. 28...

1,064
1,028
986
974

79
118
132
157

158
154
149
145

52
52
42
41

1,353
1,352
1,309
1,317

Sept.
Sept.
Sept.
Sept.

1,046
973
934
944

182
222
241
264

149
159
178
152

55
60
60
51

1,432
1,414
1,413
1,411

Oct. 2....
Oct. 9 . . . Oct. 1 6 . . .
Oct. 2 3 . . .
Oct. 30.--

931
857
849
796
991

323
333
360
379
340

146
141
138
136
293

80
54
110
63
56

1,480
1,385
1,457
1,374
1,680

Nov6_...
Nov i 3 . - .
Nov. 20—
Nov. 27...

991
971
900
912

330
300
284
257

293
313
327
326

40
86
53
27

Dec. 4 — .
Dec. 1 1 . . .
Dec. 18...
Dec. 24...
Dec, 3 1 . . .

872
769
737
763
632

257
322
309
355
392

355
387
533
485
511

57
48
63
120
47

1,151
877
822
782
821

484
477
481
454
436

244
239
238
202
202

852
904
865
952

411
391
356
334

200
177
173
166

Mar. 6—.
Mar. 13...
Mar. 20...
Mar. 27...

989
956
943
1,024

305
283
237
208

Apr. 3 - . . .
Apr. 10.-.
Apr. 17...
Apr. 24 —

1,030
964
994
975

May
May
May
May
May

1_...
8.—
15.-.
22—
29...

June 5
June 12._.
June 19—

4....
11...
18...
25...




Nonmember
deposits,
etc.

Unexpended
capital
funds

387
383
383
378
381

39
33
32
26
28

348
350
351
352
353

2,386
2,372
2,319
2,367

383
383
383
382

28
28
27
25

355
355
356
357

2,350
2,363
2,340
2,332

390
387
388
391

30
26
26
28

360
361
362
363

4,674 2,335
4,642 2,302
4,646 2,302
4,631 2,290

395
398
398
397

30
33
32
29

365
365
366
368

1,773
1,778
1,799
1,787
1,794

4,661
4,651
4,645
4,635
4,695

2,336
2,330
2,320
2,276
2,286

408
400
402
399
402

41
31
32
29
30

367
369
370
370
372

1,785
1,795
1,766
1,764

4,667
4,636
4,635
4,636

2,321
2,328
2,292
2,344

403
404
405
405

28
29
30
27

375
375
375
373

4,331 1,792
4,328 1,784
4,340 1,797
4,346 1,789
4,341 1,788
4,347 1,773
4,350 1,783
4,353 1,782
4,359 1,787
4,363 1,765
4,364 1,787
4,369 1,785
4,375 1,738

4,766 2,380
4,817 2,303
4,749 2,352
4,704 2,357
4,717 2,355

408
402
407
403
404

34
29
29
28
28

374
373
378
375
376

4,741 2,323
4,745 2,330
4,744 2,292
4,748 2,306

409
410
408
409

30
28
27
25

379
382
381
384

4,829 2,320
4,791 2,360
4,764 2,381
4,744 2,364

411
414
422
416

25
26
34
26

386
388
388

1,750
1,781
1,781
1,791
1,795

4,789
4,788
4,789
4,752
4,789

2,399
2,339
2,408
2,378
2,652

416
417
420
421
419

27
26
27
28
26

389
391
393
393
393

1,654
1,670
1,564
1,522

4,374
4,378
4,379
4,386
4,385
4,380
4,375
4,374
4,366

1,782
1,805
1,778
1,766

4,830 2,558
4,820 2,608
4,777 2,518
4,856 2,376

428
422
421
422

34
27
25
26

394
395
396
396

1,541
1,526
1,642
1,723
1,582

4,369
4,354
4,321
4,294
4,284

1,781
1,807
1,811
1,788
1,778

4,867
4,869
4,937
5,059
4,866

423
421
429
426
423

26
25
28
24
30

397
396
401
402
393

2,401
2,397
2,408
2,320
2,355

37

RESERVE BANK CREDIT

No. 4.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, BY WEEKS
(WEDNESDAY SERIES), 1929-30—Continued
[In millions of dollars]

Other
Bills Bills United reserve Total MoneDate
States
dis- bought securi- bank bank tary
(Wednesgold
counted
day)
ties credit credit stock

Treasury
currency
(adjusted)

Unexpended capital
funds, nonmember
deposits, etc.

MemMoney ber
in cir- bank
Non- Unexcula- reserve
mem- pendtion
balber
ed
ances Total
de- capiposits, tal
etc. funds

1930
Jan. 8
Jan. 15
Jan. 22
Jan. 29

568
442
433
407

319
323
298
258

485
479
477
477

1,420
1,301
1,269
1,171

4,277
4,283
4,284
4,289

1,784
1,793
1,782
1,775

4,690
4,596
4,553
4,508

2,367
2,358
2,360
2,308

424
423
422
419

393
393
393

Feb.
Feb.
Feb.
Feb.

5
12—
19—.
26—

381
382
377
343

296
276
281
299

478
479
481
483

1,194
1,200
1,169
1,156

4,302
4,310
4,329
4,345

1,786
1,803
1,758
1,768

•4,525
•4,542
4,521
•4,505

2,339
2,308
2,315
2,346

418
463
420
418

393
393
393
393

Mar. 5
Mar. 12.
Mar. 19....
Mar. 26....

309
266
206
207

271
257
185
256

486
514
561
529

1,105
1,068
983
1,025

4,360 1,799
4,384 1,816
4,405 1,806
4,420 1,790

•4,528
•4,495

2,315
2,354
4,481 2,291
4,467 2,340

421
419
422
428

394
393
396
400

Apr. 2
Apr. 9
Apr. 16....
Apr. 23....
Apr. 3 0 —

241
226
214
211
233

301
267
302
257
210

530
527
535
527
530

1,124
1,047
1,099
1,030
1,006

4,424
4,435

May
May
May
May

7
14—
21—
28—

237
210
210
247

175
171
187
176

528
528
528
530

979
952
953
976

June 4
June 1 1 —
June 18
June 25

240
210
207
232

148
133
102

July 2
July 9
July 16...
July 2 3 . . .
July 30...

260
236
207
191
197

Aug.
Aug.
Aug.
Aug.

6
13—
20...
27—

4,445
4,491

1,774
1,781
1,775
1,773
1,791

4,518
4,495
4,505
4,461
4,477

2,375
2,345
2,380
2,363
2,385

429
423
427
424
426

400
398
401
400
399

4,496
4,502
4,514
4,516

1,777
1,800
1,772
1,766

4,474
4,446
4,437
4,491

2,349
2,379
2,374
2,347

429
429
428
420

399
400
400
397

544
579
598
577

1,004 4,523
974 4,526
961 4,529
4,533

1,782
1,786
1,791
1,766

4,476
4,459
4,450
4,426

2,412
2,409
2,408
2,386

421
418
423
423

394

157
149
169
151
131

596
591
577
576
576

1,070
1,012
1,000
946
927

4,536 1,786
4,536 1,781
4,540 1,796
4,523 1,793
4,516 1,785

4,553
4,488
4,447
4,407
4,397

2,406
2,417
2,460
2,432
2,415

433
424
429
423
416

391
390
390
389
388

206
191
196
193

134
154
159

* 576
606
602
602

940 4,494 1,782
4,489 1,787
4,493 1,788
4,504 1,790

4,437
4,437
4,442
4,448

2,364
2,400
2,414
2,419

415
421
411
411

387
386
386

Sept. 3
Sept. 10...
Sept. 17
Sept. 24...

231
183
163
167

170
193
209
198

602
602
610
602

1,041
1,008
1,008
991

4,500 1,775
4,504 1,794
4,508 1,816
4,507 1,770

4,511
4,465
4,459
4,436

2,393
2,428
2,456
2,416

412
413
417
416

385
386
391
391

Oct.l
Oct. 8
Oct. 15-—.
Oct. 22-—.
Oct. 29-—.

186
173
210
192
202

193
211
185
177
166

601
600
602
602
601

1,010
1,012
1,044
992
985

4,511
4,514
4,519
4,523
4,533

1,782
1,784
1,796
1,788
1, 791

4,487
4,500
4,450
4,426

4,492

2,394
2,408
2,440
2,437
2,468

417
415
419
416
415

392
390
391
391
390

Nov. 5
Nov. 12....
Nov. 19.,..
Nov. 26....

213
192
205
234

186
207
178
176

602
601
596

1,010
1,035
1,003
1,028

4,534
4,549
4,556
4,566

1,779
1,798
1,783
1,787

4,491
4,477
4,482
4,565

2,410
2,490
2,449
2,410

422
415
411
406

390

Dec. 3
Dec. 10....
Dec. 17—.
Dec. 24..-.
Dec. 31—.

251
257
331
448
251

219
244
252
260
364

602
617
692
642
729

1,108
1,134
1,297
1,425
1,373

4,572
4,576
4,584
4,589
4,593

1,772
1,804
1,822
1,775
1,798

4,615 2,424
4,656 2,448
4,837 2,455
5,014 2,367
2,471

413
410
411
408
404

387
384
385
384
376

Revised.




38

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

RESERVE BANK CREDIT
No. 5.—RESERVE BANK CREDIT OUTSTANDING, ANNUAL AVERAGES, 1915-1930

[Averages of daily figures. In thousands of dollars]
Bills and securities held by Federal reserve banks

1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930.

United
Bills dis- Bills
Other Foreign
States
loans
counted bought securities securities on gold

i 60,149
1163,350
523,120
1,723,168
2,625,406
3,390,422
2.198.238
1,226,334
L, 204,752
996,467
1,195,397
L, 257,859
L, 175,035
L, 505,085
L, 459, 264
L, 086,870

Year

Reserve
bank
credit
outstanding

24,371
24,140
193,783
1,134,486
1,905,697
2,523,073
1,797,226
571, 220
735,608
372,121
480, 609
568,166
442, 287
839,942
950, 580
271,727

10,430
65,508
150,094
287,147
323,939
385,420
91,150
159,102
226, 767
172,437
287,482
281,104
263, 258
327,806
241,399
213,201

7,931
47,161
89,207
134,177
254,384
323,661
263,864
454,777
185,504
402, 271
358,760
349, 599
417,480
297,499
207, 659
563,672

17,417
26,541
6,893
352
1
44
66
85
1,210
2,473
3,396
1,513
2,124
13,420
8,295

486
9,218
4,114
1,068

Due
from
Reserve
foreign bank float
banks

536
2,765
793
692
699
701
644
671
674
8,643
603
732
804

a 83,143
» 166,470
a 138,620
a 157,475
45,262
40,470
56,087
47,298
56,184
50,806
41,854
37, 111
44,406
29,171

i Exclusive of reserve bank float for whichfiguresare not available.
a Includes Government overdrafts.
No. 6.—RESERVE BANK CREDIT OUTSTANDING, BY MONTHS, 1922-1930

[Monthly averages of daily figures. In thousands of dollars]
Month

Total

United
Foreign Due
Bills dis- Bills States Other se- loans on from Reserve
foreign bank
counted bought securi- curities gold
float
ties
banks

98,195 237,637
1,326,095
961,966
302
1922—January
87,507 356,906
1,233,072
768,836
195
February
92,318 458,584
1,206,587
638,208
102
March
93,003 520,224
1,210,045
572,466
90
April
1,207,841
479,100 103,452 603,499
May
1,191,524
437,436 135,591 590,690
June
1,169,986
425,399 152,550 547,083
July
1,102,169
395,588 159,490 497,185
August
,
1,179,870
417,251 211,538 485,989
September....
1,245,574
486,155 251,534 448,129
October
1,264,889
623,372 259,871 325,319
November....
1,377,109
660,427 259,296 379,939
December
547,058 217,939 420,977
1,248,888
1923—January
608,165 189,819 355,737
1,205,043
February...
627, 799 233, 753 315,848
1, 228, 242
March
17
657,730 272,439 228,664
1, 214,466
39
April
705, 312 271, 333 193,224
1,221,737
49
May
741,246 224,313 153,395
1,178,370
56
June
1,179,386
186,002 96, 533
19
July
1,127,239
808,870 175,351
90,016
15
August -.
1,183,823
845, 227 173,909 101,690
138
September..
1,204,123
873,142 184,838
91,450
317
October....
1, 204, 312
798, 529 264,951
83,456
255
November..
1,260,198
771,034 323, 901 105,893
December..
1924—January
1,040,781
27
573,865 299,914 117, 576
February...
955, 227
19
513, 920 272, 678 134, 611
March
475, 712 228,101 244,121
73
April
981, 361
488, 558 170, 525 273, 601
52
879, 242
May
432,613
342
79,995 323, 557
886, 324
June
370,159
50, 376 416, 251
1,276
878, 500
July
315,343
1,250
43,878 466, 530
880,895
August
268, 475 29,532 539, 409
1,540
982, 574
261, 655 91, 617 575, 360
September..
2, 963
1, 057,166
240, 200 179,735 585,118
October
1,933
1,134,950
228, 236 268,346 587, 666
November..
2,987
1,288,061
301, 351 357, 504 554, 048
December..
2,056
15,734
* Foreign loans on gold outstanding from Dec. 2,1924, to Aug* 2.1926,Mar.7 to Mar, 18,
,
11 to May 10, 1929.




694
697

701
701
701
701
701
701
701
701
701
701
701
701
701
701
701
701
701
701
701

27,301
18,931
16,677
23,564
21,091
27,106
44,248
49,196
64,373
59,033
55,599
76,715
62,193
50,621
50,124
51,118
58,659
62,047
52,286
62,158
53,675
56,420
58,581

701
701
41,130
701
47,924
701
701
42, 034
701
47,561
701
50, 798
701
41, 238
596
50, 383
476
49, 704
477
47, 238
573
66,795
1929, and Apr.

39

KESERVE BANK CREDIT
No.

6.—RESERVE

BANK

CREDIT OUTSTANDING, BY MONTHS,

1922-1930—

Continued
[Monthly averages of daily figures. In thousands of dollars]

Month

1925—January
February...
March
April
May
June.
July
August
September.
October
November..
December. „
1926—January
February...
March
April
May
June
July
August
September..
October
November..
December..
1927—January
February. __
March
April
May
June
July.
August
SeptemberOctober
NovemberDecember 1928—January
February...
March
April
May
June
July..
August
September..
October
November...
December.,
1929—January
February...
March
April
May
June
July
August
SeptemberOctober
NovemberDecember. .
1930—January
February—.
March
April
May
June
July.
August
September..
October
No vember..
December..

Total

1,125, 416
1, 094, 047
1,121,951
1,109, 656
1, 099,973
1,118, 344
1,118, 239
1,142,706
1, 226, 636
1, 320,582
1, 351, 693
1,506,515
1, 278,808
1, 218, 403
1, 216,042
1, 203,653
1,199,838
1,185, 468
1, 221, 421
1, 202, 639
1, 277,787
1, 321, 568
1, 318, 027
1, 445,340
1,185,778
1,043,082
1,055,163
1,087,141
1,041,397
1,081,275
1,114, 788
1,093,486
1,187, 227
1,254,435
1,377,128
1,567,814
1,387, 591
1,263,814
1,295, 246
1,405,135
1,471, 559
1, 531,103
1, 530,993
1,485,196
1,581,421
1,621,327
1, 652,841
1,824,070
1,613,093
1,501,565
1,480,931
1,377,282
1,303,411
1,316,801
1,379,796
1,376,086
1,426,890
1,449,620
1,631,397
1,643,073
1,356,721
1,181, 330
1,094,634
1,072,438
995,534
999, 628
1,003, 327
998,473
1,015, 903
1,019, 750
1, 033, 401
1, 273,145

Bills dis- Bills
counted bought

267,003
340,253
389, 611
402, 766
397, 352
437,177
480,105
545,196
594, 080
618,770
597,158
687,766
519,917
525, 678
556, 541
537, 003
511, 490
472,871
549,107
555, 241
639, 508
663, 296
614, 501
668,453
480, 622
392.996
424,543
447,286
472,984
428, 563
453.997
409,439
422,192
424,413
415,216
528, 624
465, 275
470,680
513, 233
660,927
835, 502
1,018, 735
1,089, 579
1,060,811
1,064,302
975,204
897,309
1,013,003
859,223
889,207
968,565
1,004,440
956,274
978,009
1,095,623
1,043,467
969,000
884, 501
952,640
803,352
500, 780
377, 644
273, 517
231,172
246,890
251, 237
226, 041
213, 987
188, 700
196,388
220, 769
337, 557

329, 258
313,419
298,177
287, 322
279,054
263,497
231,122
205, 401
225,728
298, 211
351, 751
368,659
323, 874
304, 816
267, 833
234,409
232, 219
243, 233
229,923
245,117
264,813
295, 249
348, 365
384, 603
343,448
304,071
252, 722
248,429
233,224
205, 273
189,774
173,122
215,926
281,903
335,908
377,712
372, 538
359, 883
342,790
358,026
348, 600
243,540
185,018
177,951
226,033
367, 595
470, 638
482, 704
472,543
384,662
265,430
155,686
144,899
99,489
74,815
124,441
229,395
337,121
296, 212
319,997
313,839
285,152
245, 562
266,141
181, 725
141,173
153,896
152, 898
196, 630
185, 470
184, 212
256, 596

Back figures.—See Annual Report for 1928 (Table 1).

33454—31
4



Due
United
States Other se- Foreign from
securi- curities loans on foreign
gold
ties
banks
463, 722
383, 790
375,566
354.984
361, 261
344, 969
337,667
329,091
335, 425
327, 685
331,962
359, 242
367, 789
334, 816
335, 742
370,754
398, 201
407,896
379, 618
353,192
315,530
306,189
302, 434
321.540
310,486
344,922
341,081
291,495
397,754
381,081
438, 511
500, 637
506,177
579,238
605,841
511,852
405, 551
414, 681
351,105
256,686
231,907
212,978
209,610
240,429
236,914
238,335
262, 776
228,528
184,241
196,746
165,311
152,870
179,370
147,473
154, 513
164, 579
154,462
315, 289
446,066
484,818
480,121
539, 513
529, 989
528,636
571,175
582, 889
598,649
597, 030
601, 582
599, 065
643,880

2,53&
2,973
2,652
1,643
1,867
2,250
2,044
2,058
2,414
2,703
3,378
3,191
3,143
3,185
3,653
4,886
4,103
3,453
3,117
3,373
3,700
3,042
2,525
2,579
3,550
2,250
2,064
2,061
1,801
1,533
1,300
758
587
698
646
942
657
535
821
990
1,000
790
490
764
3,177
4,433
4,160
7,597
9,608
9,474
8,410
7,073
7,446
11,427
10,558
13, 644
15,594
20,387
21,440
13,083
13, 213
12,817
10,383
9,101
8,413
5,587
7,341
8,348
7,282
6,400
6,311
4,617

8,224
10,500
10,500
10,500
10, 500 I
10,500 !
10,500 !
10,469
7,954
7,378
5,260
8,367
6,852
7,131 |
8,201 !
8, 687
7,758 I
7,407 |
3,521 !
90

2,928
5,854
3,979

641
642
720
639
640
730
636
645
735
639
652
738
642
709
696
645
707
676
681
702
659
677
650
650
657
658
658
659
660
8,627
45,370
36,190
7,141
628
564
566
566
566
568
570
571
573
572
574
574
645
729
727
730
729
723
723
726
729
728
724
740
764
740
722
722
721
722
712
710
708
705
703
701
1,720
705

Reserve
bank
float
54,029
42,470
44,725
51, 802
49,299
59, 221
56,165
49,846
60, 300
65,196
61, 532
78, 552
56,591
42, 068
43, 376
' 47, 269
45,360
49,932
55, 454
44,924
53,577
53,115
49, 552
67,515
47,015
36, 501
30,254
47, 625
41,233
39,525
43, 266
35,466
40, 744
40,616
45, 556
54,129

36, 703
26, 599
23,153
33, 517
29,200
35,558
42,356
35,486
46, 906
36, 536
41, 670
57, 263
42,<:61
33, 252
38,129
38,195
37,217
47,777
50,599
39, 297
47,582
52,385
45,076
59,853
43,349
24,875
24,937
35,323
29,160
29, 748
32, 455
23,888
25, 560
28,190
22,339
29, 691

40
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
7.—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENTAGES OF FEDERAL RESERVE BANKS, BY MONTHS, 1926-1930
[Monthly averages of daily figures. In thousands of dollars]
Deposits

Cash reserves

Excess

Federal
reserve
note circulation

Reserve
percentage

2,922,466
2,925,529
2,933,885
2,932,794
2,952,013
2,975,552
2,969,505
2,965,896
2,950,380
2,934,877
2,955,169
2,929,074

1,426,550
1,459,140
1,467,665
1,474,570
1,488,672
1,509,732
1,491,804
1,497,539
1,460,967
1,436,684
1,450,555
1,385,128

1,736,653
1,675,586
1,673,416
1,675,195
1,686,721
1,703,312
1,714,636
1,699,212
1,734,479
1,750,326
1,767,291
1,856,436

72.5
74.1
74.3
74.7
74.9
75.4
74.7
75.0
73.6
72.8
73.0
70.6

21,902
21,198
17,013
17,675
33,736
28,530
27,877
25,365
24,426
26,056
37,983
21, 763

3,064,506
3,137,737
3,168,365
3,182,325
3,191,623
3,170,162
3,156,204
3,145, 581
3,117,062
3,089,483
3,011,346
2,893,417

1,557,915
1,662,595
1,679,931
1,679,121
1,684,975
1,658,481
1,651,520
1,657,149
1,605,565
1,563,305
1,469,223
1,322,856

1, 753,799
1,704,703
1,721,876
1,744,530
1, 730,655
1,718,203
1,714,666
1,681,059
1,721, 726
1,732,196
1, 729,078
1,794,917

75.6
79.0
79.1
78.7
78.7
77,8
77.9
78.4
76.5
75.1
72.4
68.4

21,394
20,411
18,298
20,852
20,976
19,094
20,160
19,155
30,852
23,201
25,382
22,954

2,944,811
2,971,768
2,940,725
2,885,356
2,806,772
2,727,906
2,730,221
2,747,578
2,751,167
2,753,956
2,767,562
2,714,744

1,413,756
1,486,132
1,459,979
1,387,648
1,314,076
1,242,658
1,242,910
1,272,088
1,241,146
1,230,562
1,228,727
1,128,688

1,664,263
1,597,043
1,591,615
1,600,356
1,597,780
1,617,605
1,642,226
1,649,836
1,701,237
1,725,464
1,745,656
1,851,969

71.2
74.0
73.5
71.2
69.5
68.0
68.0
69.0
67.6
67.1
66.7
63.6

2,386,746
2,357,297
2,336, 507
2,307,945
2, 296,409
2,314,338
2,333, 545
2,322,411
2, 334, 541
2,385,644
2, 521,324
2,395,022

18,165 6,530 24,809
20,853 5,995 22,506
16,820 9,239 22,109
24,817 12,312 22,445
22,498 7,997 24,023
6,723 22,995
20,389 7,187 23,858
5,584 21,466
33, 313 6,801 20, 728
21,765
24,233
22,648 5,660
15, 859 5,775 21, 258

2,777,763
2,826,670
2,848,586
2,936,935
2,987,484
3,011,015
3,078,382
3,117,555
3,135,894
3,157,885
3,166,713
3,040,010

1,236,228
1,318,945
1,346,046
1,439,941
1,499,258
1,513,157
1, 528,162
1,556,187
1, 549, 600
1,555,552
1,489,966
1,408,179

1,722,118
1,663,492
1,669,759
1,670,904
1,663,504
1,667,011
1, 788, 692
1,831,044
1,869,776
1,872, 594
1,937,418
1,946,402

66.8
69.4
70.3
72.7
74.4
74.5
73.8
74.2
73.5
73.3
70.2
69.3

2, 349, 236
2,305, 237
2, 330, 058
2,350,129
2, 356, 320
2, 391, 649
2, 417, 484
2,392, 225
2, 397,156
2, 406, 590
2, 432, 662
2, 415, 005

23, 769
29, 091
15, 651
29,967
33, 590
38, 548

6,132 23, 357 3,124, 536 1, 564,910
6,265 21,167 3,161, 315 1,663, 575
6,761 20,609 3, 202, 080 1,725,122
5,983 21,960 3, 209, 467 1,744,689
5,625 22,895 3, 226, 367 1, 785, 713
6,046 21,446 3, 212, 839 1, 776,127
6,096 28, 671 3,169, 856 1, 746, 896
6,015 21,658 3,101, 926 1,706,403
5,656 20, 712 3,106, 714 1, 702,133
5,576 21,602 3,135, 397 1, 720, 542
5,524 24, 900 3,158,122 1, 729, 503
6,147 20, 509 3, 088, 468 1, 590, 033

1, 796, 883
1,677,809
1, 615, 952
1, 554, 910
1, 485, 509
1, 441,303
1, 390, 267
1,347, 058
1, 366, 074
1, 380, 781
1, 394, 342
1, 587, 050

74.4
78.3
80.3
81.0
82.6
82.4
82.0
81.7
81.4
81.5
81.3
76.2

Total

Member
bank

U.S. Foreign
bank
Govand
Other
erngovernment ment

Total

1926
January
February
March
April
May
June
July
August
September
October
November
December

2,289,298
2,274,728
2,276,724
2,251,846
2,253,294
2,241,415
2,262,420
2,253,350
2,273,205
2,280,180
2,279,135
2,289,632

2,235,986
2,208,272
2,197,682
2,183,479
2,199,229
2,205,974
2,211,545
2,200,909
2,211,367
2,219,023
2,214,441
2,218,186

23,714
40,736
52,511
42,143
27,671
12,193
26,246
25,098
31, 723
34,264
28,229
39,758

7,944
5,999
7,254
5,502
5,248
5,738
5,407
10,127
10,856
7,271
11,917
13,843

21,654
19.721
19,277
20.722
21,146
17,510
19,222
17,216
19,259
19,622
24,548
17,845

1927
January
February
March
April
May
June.._
July
August
September
October
November
December

2,300,204
2,266,460
2,284,809
2,301,120
2,326,816
2,355,428
2,339,478
2,331,452
2,350,875
2,380,856
2,429,976
2,435,984

2,242,854
2,212,206
2,239,952
2,248,302
2,262,397
2,300,897
2,288,948
2,283,097
2,300,450
2,326,009
2,372, 954
2,399,182

24,132
28,132
21,823
29,622
25,374
20,660
17,420
17,890
20,324
20,426
12,812
9,976

11,316
4,924
6,021
5,521
5,309
5,341
5,233
5,100
5,675
8,365
6,227
5,063

1928
January
February
March
April
May
June
July
August
September
October
November
December

2,472,425
2,419,482
2,411,714
2,450,188
2,438,812
2,394,875
2,372,629
2,330,159
2,370,075
2,380,594
2,401,637
2,415,052

2,426,360
2,368,092
2,365,030
2,396,460
2,387,642
2,354,547
2,323,506
2,273,919
2,314,257
2,332,177
2,352,294
2,366,808

19,438
25,606
23,018
26,796
23,821
12,797
19,468
27,860
17,648
18,694
17,542
18,807

5,233
5,373
5,368
6,080
6,373
8,437
9,495
9,225
7,318
6,522
6,419
6,483

1929
January
February
March
April
May
June
July
August
September
October
November
December

2,436, 250
2,406,651
2, 384,675
2,367,519
2,350,927
2,374,439
2,384,979
2,368,430
2,395,383
2,437,987
2,576,514
2,437,914

1930
January
February
March
April.__.
May.
June
July
August
September
October
November
December

2. 402,494
2, 361, 760
2, 373, 079
2, 408,039
2, 418,430
2, 457, 689
2,476,724
2, 447,713
2,451, 862
2, 464,406
2,488, 235
2, 467,472

Month

24, 473
27, 815
28, 338
30, 638
25,149
25, 811

Back figures.—See Annual Report for 1928 (Table 2).




41

EESERVE BANK CREDIT

No. 8.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS,
BY WEEKS

[In millions of dollars]
Bills and securities

Date

Deposits
U. S. securities

Bills bought

Total
Memcash
ber
Bills
reUnUn- serves Total bank Other
disdeTotal* countBought der
reserve posits
Bought der
baled Total out- resale Total out- resale
ances
right agreeright agreement
ment

Federal
reserve
notes
in cir
culation

1930
Jan. 8
Jan.15__.
Jan.22..
Jan.29...

1,384
1,260
1,223
1,154

568
442
433
407

319
323
298
258

197
203
200
186

121.9
120.2
98.0
72.8

485
479
477
477

477
477
477
476

8.3 3,105
2.6 3,155
3,172
. 1 3,188

2,422
2,404
2,415
2,369

2,367
2,358
2,360
2,308

55
46
55
61

1,837
1,782
1,739
1,702

Feb.
Feb.
Feb.
Feb.

5
12...
19...
26...

1,167
1,148
1,153
1,139

381
382
377
343

296
276
281
299

214
212
222
233

81.7
63.9
58.8
66.8

478
479
481
483

477
477
478
478

1.2 3,176
2.1 3,173
3.0 3,177
5.1 3,187

2,389
2,390
2,391
2,408

2,339
2,308
2,315
2,346

50
82
76
62

1,683
1,682
1,656
1^637

Mar.
Mar.
Mar.
Mar.

5.... 1,078
12... 1,049
19... 961
26— 1,001

309
266
206
207

271
257
185
256

220
203
177
144

51.2
54.0
7.9
112.7

486
514
561
529

485
512
558
526

1.1
2.1
3.2
2.7

3,184
3,223
3,221
3,242

2,349
2,381
2,319
2,388

2,315
2,354
2,291
2,340

34
27
29
49

1,641
1,609
1,584
1,573

Apr. 2____
Apr. 9..__
Apr. 16...
Apr. 23...
Apr. 30...

1,082
1,029
1,061
1,005
982

241
226
214
211
233

301
267
302
257
210

158
170
188
178
162

143.0
97.2
114.6
79.0
47.7

530
527
535
527
530

527
527
527
527
527

3.6
.4
8.2
.2
2.4

3,209
3,221
3,209
3,225
3,252

2,443
2,395
2,443
2,422
2,434

2,375
2,345
2,380
2,363
2,385

68
51
63
59
49

1,576
1,558
1,548
1,518
1, 507

May7—_
Mayl4._.
May21._.
May 28...

951
920
932
959

237
210
210
247

175
171
187
176

137
150
148
130

38.6
20.7
39.0
45.5

528
528
528
530

527
527
526
529

.7
.8
2.0
.7

3,242
3,248
3,248
3,221

2,413
2,421
2,439
2,421

2,349
2,379
2,374
2,347

64
41
65
74

1,493
1,465
1,453
1,466

June 4
June 11. _.
June 18...
June 25...

979
943
943
916

240
210
207
232

189
148
133
102

128
108
99
95

61.3
40.5
33.3
7.6

544
579
598
577

542
578
576
577

2.0 3,225
.3 3,244
21.3 3,234
.4 3,232

2,465
2,463
2,465
2,459

2,412
2,409
2,408
2,386

53
54
56
73

1,457
1,447
1,419
1,402

July2.._. 1,021
983
July 9 . . . .
960
July 16. . .
925
July 2 3 . . .
912
July 30...

260
236
207
191
197

157
149
169
151
131

133
123
154
145
128

24.6
26.3
14.7
5.5
2.8

596
591
577
576
576

582
577
577
576
576

13.9
13.4
.2
.1
.04

3,151
3,178
3,197
3,194
3,178

2,474
2,481
2,516
2,485
2,469

2,406
2,417
2,460
2,432
2,415

67
64
56
53
54

1,432
1,407
1,382
1,356
1,335

Aug. 6
Aug. 13...
Aug. 20...
Aug 27

923
960
965
967

206
191
196
193

134
154
159
163

120
140
153
159

13.6
14.2
7.3
4.1

576
606
602
602

576
606
602
602

.2
.1

3,127
3,115
3,107
3,120

2,423
2,464
2,469
2,470

2,364
2,400
2,414
2,419

60
64
56
51

1,339
1,333
1,324
1,337

Sept. 3__. 1,012
985
Sept. 10...
Sept. 17... 989
973
Sept. 24...

231
183
163
167

170
193
209
198

160
177
203
192

10.3
15.7
5.7
5.6

602
602
610
602

602
602
610
602

.4
.2
.4
.2

3,086
3,112
3,127
3,141

2,454
2,477
2,486
2,484

2,393
2,428
2,456
2,416

61
48
29
67

1,368
1,351
1,349
1,348

987
Oct. 1
991
Oct. 8
Oct. 15. _. 1,004
Oct. 22_ _. 977
Oct. 29__. 975

186
173
210
192
202

193
211
185
177
166

181
183
156
158
162

12.3
27.9
29.7
19.0
3.8

601
600
602
602
601

600
600
602
602
601

.8
.2

3,128
3,126
3,126
3,168
3,192

2,457
2,466
2,492
2,489
2,519

2,394
2,408
2,440
2,437
2,468

62
58
52
52
51

1,376
1,365
1,372
1,369
1,355

Nov.
Nov.
Nov.
Nov.

213
192
205
234

186
207
178
176

176
202
173
170

9.2
5.5
5.6
6.2

602
601
596
596

602
601
596
596

.1

3,146
3,177
3,191
3,164

2,479
2,540
2,514
2,463

2,410
2,490
2,449
2,410

70
49
65
53

1,367
1,371
1,384
1,422

251
257
331
448
251

219
244
252
260
364

203
223
224
222
325

15.6
20.3
27.7
38.1
39.1

602
617
692
642
729

602
604
692
640
686

68
42
29
70
47

1,451
1,476
1,596
1,722
1,664

5 - _ . 1,006
12... 1,007
19... 985
26... 1,012

Dec. 3
Dec. 10...
Dec. 17...
Dec. 24._.
Dec. 3 1 . . .

1,078
1,118
1,283
1,356
1,352

3,145

2,492

2,424

3,091
~2.~0~ 3,038
43.4 3,082

2,484
2,437
2,517

2,455
2,367
2,471

I3."6" 3,141 2,490 2,448

i Includes " o t h e r s e c u r i t i e s . "
Bock figures.—See A n n u a l R e p o r t for 1929 ( T a b l e 7), 1928 ( T a b l e 5), 1927 ( T a b l e 5), etc.




42

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 9.—FEDERAL RESERVE

BANKS—RESOURCES
D E C E M B E R 3 1 , 1930

AND L I A B I L I T I E S I N

DETAIL,

1

[Amounts in the column to the right are those shown in the board's weekly statement, their components
being shown in the column to the left. In thousands of dollars]
RESOURCES

Gold with Federal reserve agents
Gold redemption fund with United States Treasury

___
_._

__..

Gold held exclusively against Federal reserve notes
Gold settlement fund with Federal Reserve Board
Gold and gold certificates held by banks:
Gold coin
._
..._
Gold bullion and foreign gold coin
Gold certificates
_

1,730,439
35,211

_.

1,765,650
417,440

_

194,097
68, 549
495,483

_

Total gold and gold certificates held by banks
Total gold reserves.
Eeserves other than gold:
Legal-tender notes
Silver certificates
Standard silver dollars

758,129
_

_

_

__

2,941,219
47,362
85, 324
7,612

_

Total reserves other than gold

_.

Total reserves

140,298

_

Nonreserve cash:
National-bank notes
Federal reserve bank notes..
Subsidiary silver, nickels, and cents

3, 081, 517

_

_

_

52, 492
19
27, 421

_

Total nonreserve cash

_

_

79,932

Bills discounted:
Secured by United States Government obligations
Other bills discounted
Total bills discounted
Bills bought in the open market:
Bills bought outright
Bills bought under resale agreement

89,421
161,977
_

_

_

251,398
324, 746
39,098

Total bills bought in open market
United States securities bought under resale agreement:
Liberty bonds..
Treasury bonds
Treasury notes
Certificates of indebtedness
__

_

_

Total United States securities bought under resale agreement
United States securities bought outright:
Liberty bonds
_
Bonds issued since 1921
Other United States bonds
Total bonds
Treasury notes
Certificates of indebtedness
Treasury bills

.

_

43,403

_

141,167
208,113
312,603
24,181
686, 064

_-

843
7,143

Total bills and securities

Total uncollected items
i Before closing of books at end of year.




729,467

6, 300

Total other securities

Due from foreign banks
Federal reserve notes of other reserve b a n k s . . .
Uncollected items:
Transit items..
Exchanges for clearing house
Other cash items
_

363,844

15, 618
7,000
18, 360
2,425

97,972
40,674
2, 521
._

Total United States securities bought outright
Total United States Government securities
Other securities:
Federal intermediate credit bank debentures,.
Federal land bank bonds
_
Municipal warrants

_
._

1,351,852
_
._

704
21,99S
536,324
22, 773
25,686
584, 783

RESERVE BANK CREDIT
No. 9.—FEDERAL

43

RESERVE BANKS—RESOURCES AND LIABILITIES IN DETAIL,
DECEMBER 31, 1930 *—Continued

[Amounts in the column to the right are those shown in the Board's weekly statement, their components
being shown in the column to the left. In thousands of dollars
Bank premises
All other resources:
Claims account closed or suspended banks
Overdrafts—member banks
Premium on securities
.
Interest accrued
.
Deferred charges
Suspense account and miscellaneous assets

-

--

.

59,783

-

10,562

-

-

-

6,228
3,374
684
1,185

-

--.

Total all other resources

---

Total resources

-

-

-

22,033
5,202,597

LIABILITIES

Federal reserve notes outstanding (issued to Federal reserve bank)
Held by banks and branches
_
Forwarded for redemption

-

2,093,625
417,086

-

13,001

Federal reserve notes in actual circulation
Deposits:
Members—reserve account.—
Government
_
Foreign bank
_
_
Other deposits—
Nonmembers' clearing account
Officers' checks
_
Federal reserve transfer and exchange drafts
All other

1,663,538
.._

..

2,469,599
18,803
5,761

_
_.

Total other deposits...

_

21,970

Total deposits
Deferred availability items:
Government transit items._.
All other transit items
Total deferred availability items
Capital paid in
Surplus
All other liabilities:
EarningsGross earnings
_
Current expenses
Current net earnings
Add—Profit and loss
Deduct—
Furniture and equipment
_
Dividends accrued since closing of books

-

564,006
169,640
276,936

_

36,424
28,343
8,081
2,960

_
_

541
10,269

Total all other liabilities
Total liabilities
Contingent liability on bills purchased for foreign correspondents

231
4, 573
3,703
259
991
1,052
743
189
603
12,344

_

Before closing of books at end of year.
Back figures.—See Annual Report for 1929 (Table 8), 1928 and 1927 (Table 6), etc.




2,516,133

5,719
558,287

Net earnings available for depreciation allowances, reserve, surplus, and franchise
tax
_
_
Reserve for self-insurance
_
Reserves for losses account failed or suspended banks
_
Miscellaneous reserves
Accrued dividends unpaid
._
Unearned discount
_..
Accrued taxes, other than franchise tax, unpaid
_
Discount on securities
_
Suspense account and miscellaneous liabilities.,

1

18,376
2,211
302
1,081

5,202,597
439,288

44

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 10.—RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS AT THE ENI>
OF EACH MONTH
[In millions of dollars]
1929

1930

Dec. 31 Jan. 31 Feb. 28 Mar.31 Apr. 30 M a y 31

June 30

RESOURCES

Gold with Federal reserve agents
Gold redemption fund with U. S. Treasury—

1,677
73

1,650
58

1,619
54

1,695
52

1,642
41

1,608
38

1, 596
37

1,750

1,708

1,674

1,747

1,683

1,646

1,633

511

650

646

602

635

627

603

139
124
333

151
138
312

167
138
340

152
152
363

183
161
411

186
161
419

189
162
425

_.

2,857
154

2,960
197

2,965
186

3,015
182

3,073
179

3,038
157

3,012
162

_

3,011
82

3,157
67

3,151
61

3,198
61

3,252
63

3,195
56

3,174
57

Bills discounted

_

632

394

353

310

233

313

272

Bills bought:
Outright
Under resale agreement

_

237
155

198
96

233
37

144
135

162
48

135
50

104
24

392

294

270

279

210

185

128

488
23

477
2

477
3

527
8

527
2

526
2

581
10

511

479

480

535

530

528

591

12
1
34

12
1
28

13
1
23

9
1
16

10
1
23

6
1
16

5
1
21

1,583

1,209

1,140

1,149

1,006

1,049

1,018

_.

673
42
57
11

512
28
58
13

583
25
58
15

481
20
59
12

563
21
59
12

512
21
59
12

509
20
60
12

_
_

5,458

5,042

5,033

4,980

4,974

4,903

4, 850

42
1,868

28
1,683

25
1,631

20
1,574

21
1,486

21
1,468

20
1, 404

1,910

1,711

1,656

1,594

1,507

1,489

1,424

2,355
29
6
24

2,293
38
6
19

2,260
42
7
18

2,367
40
7
20

2,385
23
5
21

2,369
43
6
18

2,389
27
6
34

2,414

2,356

2,327

2,435

2,434

2,436

2,455

673
171
277
14

512
172
277
16

583
172
277
18

481
174
277
18

563
174
277
19

512
171
277
19

509
170
277
15

5,458

5,042

5,033

4,980

4,974

4,903

4,850

548

526

503

482

465

463

470

Gold held exclusively against Federal
reserve notes
Gold settlement fund with Federal Reserve
Board
Gold and gold certificates held by banks:
United States gold coin
Gold bullion and foreign coin .
Gold certificates
_
Total gold reserves
Reserves other than gold.
Total reserves
Nonreserve cash

_

Total bills bought
United States securities:
Bought outright
Under resale agreement
Total United States securities
Other reserve bank credit:
Other securities
Due from foreign banks
Reserve bank float 1

._

Total reserve bank credit outstanding..
Uncollected items not included in float
Federal reserve notes of other banks.._
Bank premises
All other resources
_
Total resources
LIABILITIES

Federal reserve notes:
Held by other Federal reserve banks.
Outside Federal reserve banks
Total notes in circulation
Deposits:
Member bank—reserve account
Government
_
Foreign bank
Other deposits
Total deposits
Deferred availability items
Capital paid i n . .
Surplus
All other liabilities
Total liabilities
Contingent liability on bills purchased for
foreign correspondents

i Uncollected items in excess of deferred availability items.




45

RESERVE BANK CREDIT

No. 10.—RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS AT THE E N D

OF EACH MONTH—Continued
1930
July 31 Aug. 31 Sept. 30 Oct. 31

Nov. 30 Dec. 31

RESOURCES

Gold with Federal reserve agents
Gold redemption funti with United States Treasury...

1,730
35

1,549
37

1,564
36

1,559
35

1,581
35

1,592
35

1,586
596

1,600
571

1,594
549

1,615
514

1,628
472

189
149
470

190
98
467

186
101
536

204
99
571

203
97
581

194
69
495

2,990
170

2,927
153

2,967
150

3,004
145

2,981
134

2,941
140

3,160
63

3,079
58

3,118
63

3,149
61

3,115
54

3,082
80

Bills discounted

200

215

272

207

275

251

Bills bought:
Outright.
Under resale agreement

128
2

167
1

193
16

160
3

167
8

325
39

130

168

209

163

175

364

576

602

597

602

599

686
43

577

602

597

602

599

729

7
1
20

9
1
32

7
1
17

6
1
19

6
1
23

1
21

934

1,025

1,103

998

1,079

1,373

504
19
60
14

457
20
60
16

558
18
60
12

497
16
60
14

547
14
60
21

564
22
58
22

4,755

4,716

4,932

4,794

4,889

5,201

19
1,322

20
1,354

18
1,361

16
1,351

14
1,442

22
1,642

Total notes in circulation

1,342

1,374

1,379

1,368

1,455

1,664

Deposits:
Member bank—reserve account
Government
..
Foreign bank
Other deposits

2,396
23
7
22

2,378
21
5
18

2,467
39
5
21

2,418
18
5
23

2,373
23
6
20

2,471
19
6
22

2,447

2,423

2,532

2,465

2,422

2,517

504
170
277
15

457
170
277
15

558
171
277
15

497
170
277
17

547
170
277
18

564
170
275
12

4,755

4,716

4,932

4,794

4,889

5,201

479

471

432

433

429

439

Gold held exclusively against Federal reserve
notes .
_.
_.
Gold settlement fund with Federal Reserve Board
Gold and gold certificates held by banks:
United States gold coin
Gold bullion and foreign coin
Gold certificates
Total gold reserves
Reserves other than gold
Total reserves
Nonreserve cash

._

.

Total bills bought
United States securities:
Bought outright
Under resale agreement
Total United States securities

_

Other reserve bank credit:
Other securities
Due from foreign banks
Reserve bank float1
Total reserve bank credit outstanding
Uncollected items not included in float
Federal reserve notes of other banks
Bank premises
All other resources . . .
Total resources

»

1,766
417

LIABILITIES

Federal reserve notes:
Held by other Federal reserve banks . ._
Outside Federal reserve banks .
. .

Total deposits
Deferred availability items .
Capital paid in
Surplus
_.
All other liabilities
Total liabilities
Contingent liability on bills purchased for foreign correspondents
1

Uncollected items in excess of deferred availability items.
Less than $500,000.
Back figures.—See Annual Report for 1929 (Table 9), 1928 and 1927 (Table 7), etc.
2




46

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 11.—CONDITION OF EACH FEDERAL RESERVE
1929 AND 1930
[In thousands of dollars]
Boston
1929

1930

267,212
16,772

201,269
10,096

283,984
10,902

Bills discounted
Bills bought
United States securities.
Other securities
Total bills and securities
Due from foreign banks
Federal reserve notes of other banks..
Uncollected items
Bank premises...
__
All other resources

Total gold reserves
Reserves other than goldTotal reserves_.
Nonreserve cash

Total resources..

BANK AT THE E N D OP

New York

Philadelphia

1930

1929

749,860
50,382

1,007,122
39,879

203,721
12,471

238,552
8,874

211,365
6,473

800,242
12,946

1,047,001
22,285

216,192

247,426
5,146

26,644
29,878
25,850
1,000

13,238
25, 315
49,925
850

171,759
191,745
239,206
7,150

61,898
158,273
283, 332
2,850

65,777
8,540
41,806
1,000

25,663
3,496
54,204
610

83,372
53
326
78, 533
3,580
81

89,328
52
337
65, 638
3,458
76

609,860
218
16, 815
203,188
15,664

506,353
231
7,173
183,283
15,240
8,615

117,123
59,016
1,762
106

83,973
68
350
51,802
2,614
136

460, 831

376, 727

1,662,216

1,790,181

398,019

391,515

1929

1930

LIABILITIES

Federal reserve notes in circulation..
Deposits:
Member bank—reserve account.
Government
__
Foreign bank
___
Other deposits
_._
Total deposits
Deferred availability items..
Capital paid in
Surplus. _
All other liabilities
Totalliabilities.

206, 558

132, 035

318,971

162, 344

153,727

141,547
2,013
415
67

150,936
829
425
65

985,791
5,851
1,801
10,927

1,062,276 133,193
4,113
2,329
1,903
539
9,555
60

142,539
1,344
558
163

144,042
76, 695
11,592
21, 751
193

152,255 1,004,370 1,077,847 136,121
59,167
187,721
178,877 55,931
11,877
67, 301
65,578 16,467
21, 299
80,001
80, 575 26,965
94
3,852
2,328
191

144,604
49,256
16,793
27,065
70

| 460,831

376,727

Cleveland

Bills discounted..
Bills bought
United States securities.
Other securities
Total bills and securities
Due from foreign banks
Federal reserve notes of other banks...
Uncollected items
Bank premises.._
All other resources
Total resources..

1,790,181

Richmond

398,019 ! 391,515
Atlanta

1929

1929

Total gold reserves
Reserves other than goldTotal reserves..
Nonreserve cash

1, 662, 216

384,976

1930

254, 259
8,618

278, 471
8,096

99, 377
5,830

113, 220
6,904

139, 591
13,925

150,847
8,578

262, 877
6,724

286, 567
6,428

105,207
5,904

120,124
4,556

153, 516
5,559

159,425
4,693

76,719
23,499
29,479
1,500

37, 216
25,931
62,925
1,000

13,336
9,559

22, 766
10,936
13,907

29, 347
19,196
9,945

18,069
15,755
7,877
600

131,197 127,072
71
74
1,397
2,443
64,409 53,979
6,833
6,268
1,013

61,834
33
5,719
52, 566
3,194

47,609
30
2,266
38,140
3,249
967

58, 488
28
2,129
24, 620
2,658
3,845

42,301
26
1,685
12,846
2,573
4,552

483, 337

235,137

216,941

250,843

228,101

188,198

194,948

98, 670

100, 515

143,084

133, 854

173,739
1,982
572
1,683
177,976
62,957
15, 632
29,141
1,101
475, 005

186, 377
2,240
575
2,697

64,742
2,150
258
159
67, 309
49,683
6,072
12,496
907
235,137

60,820
444
241
168
61, 673
36,110
5,801
12,114
728
216,941

62, 895
2,484
219
165
65, 763
23,907
5,384
10,857
1,848
250, 843

61, 014
1,211
207
479
62,911
13,130
5,346
10,857
2,003
228,101

475,005

LIABILITIES

Federal reserve notes in circulation..
Deposits:
Member bank—reserve account.
Government
Foreign bank__
Other deposits
Total deposits
Deferred availability items..
Capital paid in
Surplus
All other liabilities

Total liabilities..

191, 889
50,765
15, 813
28,971
951
483, 337

Back figures.See Annual Report for 1929 (Table 10), 1928 and 1927 (Table 8), etc.




47

RESERVE BANK CREDIT

No. 11.—CONDITION OF EACH FEDERAL RESERVE BANK AT THE END OF 19291

AND 1930—Continued
[In thousands of dollars]
Chicago

St. Louis

Minneapolis

1929

1930

1929

1930

1929

1930

Total gold reserves
Reserves other than gold.
Total reservesNonreser ve cash

441,048
12,652

353,871
21,591

116,882
8,581

104,329
9,303

92,466
2,731

64,411
4,258

453,700
12,405

375,462
11,382

125,463
6,531

113,632
4,675

95,197
2,467

68,669
2,432

Bills discounted
Bills bought
United States securities _
Other securities

112,668
37, 561
68,846
1,500

22, 804
52,370
89,603
1,000

17,938
9,801
29, 266
30

11,301
10, 788
26,383

10,177
6,636
16, 873
120

3,57&
8,411
27, 302
233

Total bills and securities
Due from foreign banks
Federal reserve notes of other banks.
Uncollected items
Bank premises
All other resources

220,575
99
3,429
80, 605
8,295
559

165,777
94
2,333
68, 622
8,061
1,126

57,035
29
2,510
32,600
3,811
297

48,472
25
1,056
21, 817
3,635
3,508

33, 806
18
2,277
12, 514
2,018
542

39, 522
16
805
10, 366
1,926
528

779, 667

632, 857

228, 276

196, 820

148,839 |

124,264

Total resources
LIABILITIES

Federal reserve notes in circulation..
Deposits:
Member bank—reserve account.
Government
Foreign bank
_
Other deposits

304,538

139,162

94, 744

84, 599

66, 856

53, 558

331, 302
2,930
768
1,484

360, 832
2,590
770

79, 771
1,197
224
303

69, 521
1,089
207
534

56, 861
2,129
140
268

48, 447
1, 280
132
139

Total deposits
Deferred availability items..
Capital paid in
Surplus
All other liabilities

336,484
76, 345
20,013
40, 094
2,193

365,152
66, 524
20,145
39, 936
1,938

81,495
34, 549
5,268
10, 877
1,343

71, 351
23, 934
5,053
10, 562
1,321

59, 398
11, 535
3,091
7,143
816

9, 776
3, 063
7,144
725

Total liabilities.

779,667

632, 857

228, 276

196, 820

148, 839

124, 264

Kansas City

Dallas

San Francisco

1929

1930

1929

1930

1929

Total gold reserves
_
Reserves other than goldTotal reserves..
Nonreserve cash

131,719
6,172

92, 371
7,200

66, 803
4,346

46,402
7,126

294,113
11, 397

137, 891
2,867

99, 571
2,345

71,149
4,286

53, 528
4,206

305, 510
7,835

Bills discounted
Bills bought
United States securities.

29, 649
8,195
3,063

15,042
12, 971
31,611

13,291
9,209 !
24,878 I

4,342
8,575
31, 316

39, 513
34, 613
11, 816

Total bills and securities
Due from foreign banks
Federal reserve notes of other banks.
Uncollected items
Bank premises
_
A.11 other resources

40, 907
24
1,797
38, 840
3,972
164

59,624
21
1,798
31, 675
3,803
241

47,378
24
880
27,137
1,876
359

44,233
21
487
17,362
1,830
551

226, 462

199,078

89,434

68,424

RESOURCES

Total resources

290, 354
8, 393

i

85, 942
52
I 3,557
! 32, 558
! 4,261
346

153,089 I 122, 218 | 440, 061

438, 609

46,947

31,901 j 189,379

185, 839

! 175,317
I 2,911
'
404
! 8,530

182, 583
1,409
397
7,037

187,162
31, 924
11,414
19, 514

191,426
30, 793
11, 504
18,475
572

LIABILITIES

Federal reserve notes in circulation..
Deposits:
Member bank—reserve account.
Government
Foreign bank
_
Other deposits
_
Total deposits
Deferred availability items
Capital paid in
_
Surplus
All other liabilities

Total liabilities

__

86,408
1,555
185
141

_
_

87,705
1,597
173
54

63,697
1,321
185
63

57,533
673
173
119

88, 289
34,804
4, 286
! 9,162
487

89,529
27, 711
4,311
8,702
401

65, 266
26, 871
4,453
8,935
617

17, 964
4,356
8,936
563

226, 462 199, 078

153,089

122, 218 J 440, 061 j 438, 609

Back figures—See Annual Report for 1929 (Table 10), 1928 (Table 8), 1927 (Table 8), etc.




48

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 12.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL R E SERVE BANKS, BY MONTHS, 1914-1930
Month

1914

1915

1916

1918

1917

1919

1920

1921

January...
February.
March
April

469
570
606

614
451
535
606

309
262
315
384

1,432
1,353
1,568
2,100

3,316
3,091
3,575
3,875

3,461
3,338
3,670
4,175

5,293
5,107
5,320
5,568

May
June
July
August.

693
813
760
711

655
678
642
483

590
900
960
990

2,793
3,021
3,462
3,671

4,035
4,047
3,685
3,460

4,642
4,948
4,858
4,780

5,632
5,745
5,607
5,453

761
794
835
754

448
383
336
314

953
1,140
1,574
1,701

3,464
3,610
3,667
3,288

3,722
3,839
3,649
3,656

4,758
4,952
5,275
5,551

5,427
5,572
5,622
5,676

1,920

1,788

3,127

5,493

5,993

6,941

7,415

September..
October
November-.
December..

132
339

Year.
1922

1923

1924

1925

January...
FebruaryMarch
April

5,350
4,847
4,701
4,738

3,294
2,976
3,282
3,507

3,663
3,465
3,516
3,744

2,554
2,415
2,731
3,016

May
June
July
August

4,636
4,436
4,167
4,042

3,942
3,999
4,110
3,960

3,795
3,706
3,432
3,052

September.
October
NovemberDecember.

3,944
3,793
3,859
3,873

3,600
3,752
3,732
3,698

Year.

6,956

6,333

Month




1927

1928

1929

2,838
2,659
3,045
3,155

2,825
2,566
2,717
2,707

2,256
2,104
2,405
2,522

2,691
2,597
2,860
3,185

3,049
2,730
2,707
2,753

3,209
3,289
3,207
2,979

3,282
3,458
3,190
3,016

2,858
2,834
2,669
2,511

2,742
2,957
2,927
2,797

3,391
3,414
3,301
3,012

2,951
2,849
2,729
2,466

2,786
2,663
2,573
2,783

2,729
2,796
2,876
3,021

2,879
2,856
2,871
3,024

2,361
2,377
2,350
2,345

2,562
2,663
2,639
2,801

2,822
2,917
3,246
3,080

2,194
2,400
2,476
2,839

6, 060 I

5,183

5,343

4,869

4,718

5,113

4,991

1930

49

RESERVE BANK CREDIT

N o . 1 3 . — B I L L S D I S C O U N T E D BY F E D E R A L R E S E R V E B A N K S — H O L D I N G S AT T H E
END

OF E A C H

M O N T H , BY

CLASSES

[In thousands of dollars]

Rediscounted bills

Total
(all

End of month

classes)

Member bank
collateral notes

ComSecured
mercial
Trade by U. S.
Demand
and agri- and sight Bankers' accept- Governacceptcultural
ment
ances
drafts
ances
obligapaper,
tions
n. e. s.

Secured
by U. S. OtherGovern' wise sement
obliga- % cured
tions

1930

1,242 206,933
1,027 180,978
171, 544

47,662
45,341
37, 864

313
295
334

105,666
132,362
108,139

19, 357
54,274
42,968

773
792
997

444
450
432

66, 201
66,459
105,405

17,916
30,971
71,296

1,108
1,383
1,412

431
473
447

74, 082
111,938
88,990

33, 583
53, 788
62, 299

1,851
1,705
1,353

January
February
March

. . 394,234
352,917
310,228

136,339
123,832
99,043

157
24
33

April
May
June

-

233,452
312,602
271,828

106,714
124,161
119,133

18
33
18

1,384
1,477
1,236

199,537
214,545
_. 272,361

114,145
115, 838
94,155

58
35
76

207,101
j 274,596
251,398

97, 766
106, 853
98,163

131
161
87

July.
August
September

-...
.

OctoberNovember
December

50
10
105

NOTE .—Figures include bills discounted for Federal intermediate credit banks as follows: January,
$1,010,000; February, $250,000; March, $1,043,000; April, $1,401,000; May, $1,076,000; June, $656,000; July,
$124,000; August, $296,000; September, $365,000; October, $117,000; November, $1,111,000; December,
$737,000.
Figures also include notes secured by adjusted-service certificates discounted for nonmember banks as
follows: January, $28,000; February, $21,000; March, $37,000; April, $39,000; May, $53,000; June, $51,000;
July, $31,000; August, $40,000; September, $45,000; October, $44,000; November, $41,000; December,
$70,000.
Back figures.—See Annual Report for 1929 (Table 12), 1928 (Table 11), 1927 (Table 11), etc.
No.

14.—BILLS BOUGHT BY FEDERAL RESERVE BANKS—-HOLDINGS
or EACH MONTH, BY CLASSES

AT THE END

[In thousands of dollars]
Bills payable in dollars
Bankers' acceptances

End of month

Total
Total

Bills
payable in
Trade forBased on
accep- eign
goods
tances curstored Dollar
renDomes- in or
All
Import Export
excies
shipped
tic
other
between change
foreign
countries

1930
January
February....
March
April

294,307
270,260
278, 536
209, 564

293,272
269,170
277,277
208,486

51,325
51,142
54, 317
46,539

51, 584
48,424
53,049
40,829

67,743
58, 535
54,177
47, 076

May
June
July
August

185,066
127, 838
130,110
168,061

183,979
126, 771
129, 045
166,990

40,895
27, 446
29,267
28,459

41,163
19, 209
23, 512
27, 045

39,418
30,451
23,670
27,326

September..
October
November..
December.. .

208, 742
162, 947
174, 573
o63,844

207, 667
141,364
142, 986
327,861

35,323
27, 018
21,638
38, 672

40, 679
24, 892
25, 917
58, 071

37,920
32, 562
30, 681
81,121

11,083
8,160
9,258
5,135

4,894
3,119
3,877
3,304

55,903 4,813
46, 777 2,153
48, 077 3,998
77,869

1,787
735
521

106, 643
99,790
102,599
65,603

85, 247
46, 759
54,116
131, 502

7,012 1,486
5,692 4,441
6,299 4,335
12,341 6,154

Back figures—See Annual Report for 1929 (Table 13), 1928 (Table 12), 1927 ((Table 12), etc.




42
219
24
29
3

^,035
,038
,040
1,054
.058
,064
,065
,071
1,075
21, 583
31,587
35, 983

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No, 15.—HOLDINGS OF BILLS DISCOUNTED AND BILLS BOUGHT BY
RESERVE BANKS, BY MATURITIES, 1929-30

FEDERAL-

[In thousands of dollars]
Maturity

Date

16 to 30 31 to 60
days
days

Bills discounted:

Over 6
months

61 to 90
days

1929—Jan. 30..
Feb. 27..
Mar. 27.
Apr. 24..

820, 634
952,482
1, 024,130
974,513

677,446
789,566
865,446
803,341

37,802
41,273
40, 319
45, 367

51,437
69,807
65, 365
67, 741

42,387
42,589
42,679
41, 501

9,454
6,381
7,331
12, 703

2,108
2,866
2,990
3,860

May 29..
June 26..
July 31..
Aug. 28..

988,194
1,016, 747
1,075,714
973,627

762,915
799,237
844, 787
719, 548

52, 052
49,840
47,421
54, 371

84,852
78,909
87,375
114,842

57, 418
52,665
75, 010
77, 111

29,136
35, 533
20, 924
7,653

1,821
563
197
102

944,399
991,038
912,349
632,421

714, 584
784, 594
692, 626
508,072

66, 035
51, 616
65, 415
36, 331

103,521
94, 601
92, 360
48, 742

54, 519
49, 726
43, 954
25,932

5, 267
10,170
17,168
12,706

475
331
826

406,941
342,781
206,829
233, 452

304,177
253,437
132,180
149,986

26,116
23, 760
17,966
17, 292

41, 030
36,142
27, 694
29, 723

25,263
20, 012
16,462
18,878

6,800
8,019
14, 362

987
2,630
4,508
3,211

May28_.
June 25..
July 30...
Aug. 27..

247,046
231,505
197,101
193,275

152,044
135,408
105,806
107, 399

20,736
19,476
18,141
16,853

33,329
30,110
28, 111
39, 215

18,431
22,050
30,414
23, 271

21,312
24,242
14, 558
6,397

1,194
219
71
14Q

Sept. 24..
Oct. 29...
Nov. 26..
Dec. 31..

167,162
201, 603
233,852
251, 398

98,003
128,309
152,715
175, 501

20, 581
19, 559
21, 725
17,659

30, 206
30,871
30,117
26,966

14,496
16, 234
16,958
19,459

3,686
6,020
10,995
10, 634

190
610
1,342
1,179

Bills bought:
1929—Jan. 30...
Feb. 27..
Mar. 27..
Apr. 24..

435,609
334,075
208,427
141,175

133, 502
134,661
66,626

95,602
104,774
52,370
28,011

156,122
77,558
33,147
34,266

46,947
13,419
26,164
9,557

3,436
3,663
2,762
2,715

117,919
82,839
74, 567
156,514
263,934
339,885
257,315
392,209

54, 291
40, 728
47,368
90, 597

31,848
18, 005
10,457
20, 258

19, 506
15, 654
9,432
25,422

10, 080
6,527
6,672
17,173

2,194
1,925
638
3,064

123,010
70, 968
74, 963
280,459 i

32,213
46, 503
76,510
45,814

49.948
133,870
99,086
47,422

57, 092
86, 755
6,058
18,310

1,671
1,789 I
698
204

1930—Jan. 29...
Feb. 26...
Mar. 26..
Apr. 30...

258,472
299,306
256,482
209, 564

119,202 !
158,895 ;
172,731 '
110, 370

48,576
70, 628
28, 467
44,260

67,917
50,007
40, 634
39,864

22,088
19, 583
13,977
11,913

689
193
673
3,157

May 28..
June 25..
July 30...
Aug. 27..

175, 560
102, 313
130,762
163,274

103,869
49,607
60,828
53,960

29,069
24,092
19,938
33, 575

32, 573
23, 077
32,488
71,621

9,177
4,399
16, 368
4,097

872
1,138
1,140
21

Sept. 24...
Oct. 29
Nov. 2 6 . . .
Dec. 3 1 . . . .

197, 743
165, 658
176,106
363,844

48, 705
105,051
43, 774
48,200
65,854 ! 44,203
68,062
219,272

39,930
42, 236
53,802
47, 249

4,047
31,333
12,088
28,129

10
115
159
1,132

Sept. 25
Oct. 30.
Nov. 27
Dec. 31

_

1930—Jan. 29
Feb. 26
Mar. 26. __
Apr. 3 0 - . .

May 29..
June 26..
July 31...
Aug. 28..
Sept. 25....
Oct. 30
Nov. 2 7 . . .
Dec. 3 1 . . . .

[
I

!
!
I
|

Back figures—See Annual Report for 1929 (Table 14), 1928 (Table 13), 1927 (Table 13), 1925 (Tables 20
and 25), 1924 (Tables 21 and 30), etc.




51

EESERVE BANK CEEDIT

No, 16.—HOLDINGS OP UNITED STATES SECURITIES BT FEDERAL RESERVE
BANKS AT END OP EACH YEAR, 1926-1930, BY CLASSES
[Par value. In thousands of dollars]
1926

1927

915
237
12,046
49
2 37,994

915
237
12,046
10
2 278,698

148
6,278
296

2,622
148
6,019
10

47,963
87,360
179,497

1928

1929

1930

TOTAL HOLDINGS

Bonds:
2 per cent consols of 1930
2 per cent Panamas, 1936-1938
3 per cent conversion bonds of 1946-47
33^ per cent Liberty loan
\\i per cent Liberty loan
3H per cent Treasury bonds of 1940-1943..
V/% per cent Treasury bonds of 1947
43^ per cent Treasury bonds of 1947-1952..
4 per cent Treasury bonds of 1944-1954....
Z% per cent Treasury bonds of 1946-1956..
Total bonds
Treasury notes.
Certificates of indebtednessTreasury bills
Total United States securities.

915
237
» 1,796
51
2 40,524
842
2,784
156
6,119
460

915
237
i 1, 796
1
2
72, 253
12
187

290, 705
69,113

53,884
105,963
68,217

76, 817
215, 604
161,916
56, 250

163, 785
226,473
315,028
24,181

314,820

616,516

228,064

510, 587

729,467

30
41, 297
170,976

188,181
30, 300
204,678

35,301
40,291

33,950
63, 365
129,935
50, 250

28,048
159, 532
223,463
24,181

212,303

423,159

75,592

277, 500

435,224

915
237
1 2,046
49
«36,729

915
237
1 2,046
10
2 75,403
2,622
148
6,019
10

915
237
1 1, 796
1
2
32, 223
12
187

148
6,278
296

915
237
1 1,796
51
2 39,713
63
2,634
156
6,019
10

915
237
1 1, 796
9,252
2 60,244
5,009
3,202
7,852
20, 712
3,900

46,698

87,410

51,594

35, 787

113,119

45,211
7,446

21, 913
27,475

60,482
9,465

136,023
31, 981
6,000

48, 581
89,140

516
900

915
(237
1 1,796
10,102
2 103,060
5,009
3,202
7,852
27, 712
3,900

BOUGHT OUTKIGHT

In special investment account:
4^t per cent Liberty loan
Treasury notes
Certificates of indebtednessTreasury bills
Total in special investment account _
In other accounts:
Bonds—
2 per cent consols of 1930
2 per cent Panamas of 1936-1938__
3 per cent conversion bonds of 1946-47
3H per cent Liberty loan
4}£ per cent Liberty loan
Z% per cent Treasury bonds of 1940-1943
3% per cent Treasury bonds of 1947
4% per cent Treasury bonds of 1947-1952
4 per cent Treasury bonds of 1944-1954
3% per cent Treasury bonds of 1946-1956
Total bonds.
Treasury notes
Certificates of indebtednessTreasury bills

416

Total in other accounts..

99,355

136,798

121,541

209,791

250,840

Total bought outright...

311,658

559,957

197,133

487, 291

686,064

1,235

15,114

811
779
150
100
450

6,080

850
14,768

100
900

7,000

BOUGHT UNDER RESALE AGREEMENT

Bonds:
Z\i per cent Liberty loan.
434 per cent Liberty loan
3% per cent Treasury bonds of 1940-1943...
3% per cent Treasury bonds of 1947
4 per cent Treasury bonds of 1944-1954
3% per cent Treasury bonds of 1946-1956...
Total bonds
"Treasury notes
_
Certificates of indebtedness
Total bought under resale agreement

1,235
852
1,075

15,114
16,900
24, 545

2,290
10,180
18,461

7,080
16, 216

22,618
18,360
2,425

3,162

56, 559

30,931

23, 296

43,403

1
Includes $500, 3 per cent loan of 1961.
2 Includes 4 per cent Liberty jbonds as follows: 1926, $3,700; 1927, $2,650; 1923, $1,250; 1929, $1,200; 1930,
> 1,050.
*
Back figures.—See Annual Report for 1925 (Table 27).




52
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
17.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (AVERAGE BASIS), 1923-1930
[In millions of dollars]
Average amount held—

Average amount held—

Outside system investOutside system investment account
ment account
Month or In sysMonth or In sysTotal ! period
Total
tem inperiod tem invest- Under 1-day
All
vest- Under 1-day
All
ment
ment resale Treas- other
Treas- other
account resale
ury 1 U. S.
account agreeury
U. S.
agree- certifi- securicertifl- i securiment
ment
cates
ties
cates ! ties
1926
April
May
June. 1-7...
June 8-10 *.
June 11-141
118 ! June 15-18
June 19-30
135

1923
Dec. 1-14..
Dec. 15-181
Dec. 19-31.

95

161
101

1924
January—.
February.
Mar. 1-14.
Mar. 15-201
Mar.21-31.

35
60
119
161
179

April
May
June 1-15—
June 16-171
June 18-30.

195
247
332
270
362

106

43

193 I
July
340
274
324
410
386
429

August
Sept. 1-14..
Sept. 15-171
Sept. 18-30
October. _.
November I
Dec. 1-14-.
Dec. 15-161
Dec. 17-31.

258
275
285
299
290
250
273

122

266
256
210
200
199
200
200
201
194
206

91
|
!

111
117
117
114
114
101
99

371
398
407
421
407
476
383

105
95
96
93
94

380
353
310
388
305

97
100
100
104

306
302
312
424
316

j
467
400
July
i
67
539
472
August—
71
558
4S7
Sept. 1-14.
1927
67
631
504
Sept. 15-181
January.. .
75
202
503
578
Sept. 19-30
310
February.
200
307
104
82
585
October...
500
Mar. 1-14..
109
313
201 |
88
588
November
499
Mar. 15-231
114
182 !
398
88
Dec. 1-14..
448
563
Mar. 24-31
107
202 j
340
48
88
Dec. 15-17*
423
fiOO
117
Dec. 18-31.
416
536
April
201 I
341
116
May
171 !
1925
291
112
92
370
464 !J June 1-14.
421
288 !
122
January—.
June 15-19i
91
291
384
391
114
February _
222 i
52
June 20-30
272
92
371
115
380
Mar. 1-15.
250 !
72
233
93
Mar. 16-221
399
245
Mar. 23-31
259 j
100
July...
349
116
381
317 i
118
439
August
248
94
355
April
363 !
113
494
Sept. 1-14.1
250
90
361
May
333 !
104
551
Sept.15-18
247
97
353
June 1-14..
363 |
123
492
Sept. 19-30
53
196
88
347
June 15-17!
223
106
June 18-30.
336
October. _.
376 I
121
506
99
Nov. 1-14.
408 I
120
216
338
530
July...
102
Nov. 15-301
416
122
215
329
August
622
103
Dec. 1-191.
421
121
215
Sept. 1-14.1
325
610
104
101
Dec. 20-31.
423
141
Sept. 15-17
210
417
599
Sept. 18-30
210
98
328
1928
105
October.. _
210
328
367
January—.
512
115
30
210
105
November
332
275
February.
406
124
209
106
Dec. 1-14..
345
273
Mar. 1-14.1
404
126
187
99
104
Dec. 15-17
413
206
Mar.15-20
470
124
135
234
111
Dec. 18-31.
361
269
Mar. 21-31
398
121
1926
107
258
368
217
122 ! 351
April
January...
102
228
335
122
May
123
February.
257
115
230
347
85
June 1-14..
123
Mar. 1-14.
221
107
133
374
126
83
June 15-21
121
Mar.15-18
271
55
;i
111
195
312
June 22-30
84
114
Mar.19-31.
218
i Periods of Treasury financing during which 1-tlay certificates were held; see Table 18.
NOTE.—All series shown are on daily average basis, actual or estimated, with estimates confined to "resale
agreements" and "all other" for the period prior to October, 1928; these estimates are based on actual figures
of each of these two items for Wednesday dates (Table 17a) and daily figures for the two combined.




53

KESEEVE BANK CEEDIT

No. 17.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (AVERAGE BASIS), 1923-1930—

Continued
[In millions of dollars]
Average amount held—

Average amount held—

Outside system investment account
Month or In sysTotal
period tem in1-day
All
vestment Under Treas- other
resale
ury
U. S.
account agreement certifi- securicates
ties

Outside system investment account
Month or In sysTotal
period
tem investAll
1-day
ment Under Treas- other
account resale
U. S.
ury
agree- certifi- securiment
ties
cates

1928
July
August
Sept. 1-14.
Sept.15-18*
Sept. 19-21
Sept.22-23i
Sept. 24-30

85
80
92
92
92
92
82

15
11
11
13
13
10
23

1929
October...
November
Dec. 1-15..
Dec. 16-231
Dec. 24-31

Oct. 1-17. .
Oct. 18i —
Oct. 19-31.
November
Dec. 1-14 .
Dec. 15-201
Dec. 21-30.

83
75
75
80
80
74
76

21
23
29
36
31
15
32

1929
January...
February.
Mar. 1-14.
Mar.l5-21i
Mar. 22-31

76
59
41
40
40

28
3
6
1
4

April
May
June 1-14..
J u r e 15-171
June 18-30

39
21
29
24
18

12
15
22
26
32

July
August
Sept. 1-15.
Sept.l6-17i
Sept. 18-30.

18
31
36
36
30

21
28
27
38
35




99
4

6

181

128

177

98

113
119
120
120
121
121
132

213
210
223
324
226
227
237

135
135
150
122
123
121
121

239
239
254
238
234
392
229

125
122
121
124
125

229
184
168
293
169

114
117
106
107
118

165
153
157
334
168

108
96
93
90
94

147
155
156
262
159

29
107
167
229
272

13
8
3
15
18

January.. _
February..
Mar. 1-9..
Mar. 10-201
Mar. 21-31.

278
278
278
317
324

April
May
June 1-15!.
June 16.—
June 17-30.

327
327
355
377
377

7
3
2
2
5
3
1
1
18
4

July
August
Sept. 1-14.
Sept.l5-18i
Sept. 19-30.

377
397
402
402
402

October. .
November
Dec. 1-14..
Dec. 15-191
Dec. 20-31.

402
402
402
402
407

65

112
200
203
218
212

154
315
373
527
502

200
199
214
208
199

485
480
4S4
588
528

200
201
198
163
202

530
529
554
672
583

201
201
192
146
198

583
599
594
600
600

200
197
210
213
242

602
599
615
690
65$

1930

61

114

5
1
52

3
1
10

74

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 17a.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAYBASIS), 1923-1930

[In millions of dollars]
Amount held—

Date

Amount held—

Outside system investment account
In sysTotal
tem investAll
ment Under 1-day
acresale Treas- other
U.S.
ury
count agreement certifi- securities
cates

Date

Outside system investment account
In sysTotal
tem investAll
ment Under 1-day
acresale Treas- other
ury
U.S.
count agreement certifi- securicates
ties

1924

18
24
11
28

73
72
70
69

91 | Dec. 3
96 ! Dec. 10....
81
Dec. 17....
104
Dec. 24.__.

13
25
37
44
48

47
8
8
6

67
67
72
71
72

127
100
117
121
121

52
52
69
84

I
4
1

72
71
72
72

5
12...
19...
26...

108
140
164
180

2

Apr. 2
Apr. 9
Apr. 16
Apr. 23....
Apr. 30

187
188
191
198
225

May 7
May 14
May21__.
May28__.

Dec 5 - .
Dec 12
Dec. 19 _ .
Dec. 26 —

7

1924
Jan.2
Jan. 9
Jan 16
Jan. 23 . .
Jan. 30
Feb.6
Feb. 13 .Feb. 20.—
Feb. 27....

Dec. 31—.

485
413
436
449
449

2
52
41
2
4

1925
Jan. 7
Jan.14
Jan.21
Jan. 28

408
388
335
304

2

125
127
142
156

Feb. 4
Feb. 1 1 —
Feb. 18....
Feb. 25....

300
300
290
270

72
72
73
74

182
212
297
257

Mar. 4
Mar. 1 1 . . .
Mar. 18...
Mar. 25...

270
275
235
245

18
14
1
4

4
7
1
1
1

74
74
75
75
76

265
269
267
274
302

Apr. 1
Apr. 8
Apr. 15....
Apr. 22....
Apr. 29....

245
245
250
250
250

18
22
12
8
4

95
95
96
95
95

236
247
248
258

1
1
1
1

74
75
76
74

May 6
311
323 1 May 13
May 20
325
May27...
333

250
250
250
250

30
35
13
4

96
95
95
95

376
380
358
349

June 4 . . .
June 11
June 18
June 25 . . .

321
344
359
363

2
2
1
3

75
77
66
64

398
423
426
430

June 3
June 10
June 17
June 24....

250
255
201
221

9
9
11
7

95
96
86
97

354
360
306
325

July
July
July
July
July

2 ..
9
16
23—
30—

371
386
400
400
400

1
1
1

63
64
66
77
105

July 1
435
July 8
451
467 | July 1 5 —
! July 2 2 —
477
July 2 9 —
505

216
216
216
216
216

37
22
27
17
12

101
101
101
102
102

354
339
344
335
330

Aug. 6
Aug. 13
Aug. 20.—
Aug. 27

456
473
473
473

80
67
68
69

536
540
541
542

Aug. 5
Aug. 1 2 . . .
Aug. 1 9 . . .
Aug. 2 6 . . .

216
214
215
215

15
12
6
14

102
103
102
103

333
329

Sept. 3 —
Sept. 10—
Sept. 17—
Sept. 24—

473
498
511
500

5

69
70
68
75

542
568
619
575

Oct. 1
Oct 8
Oct. 15
Oct. 22...
Oct. 29—

Sept. 2 —
Sept. 9 Sept. 16...
Sept 23
Sept. 30-..

215
215
210
210
210

500
500
500
500
500

17

76
81
82
83
84

576
581
599
583
584

g
2
10
29

104 , ,326
•327
104
103 ' # 4 0 9
323
103
104
343

Oct 7
Oct. 14
Oct. 21
Oct. 2 8 —

210
210
210
210

10
22
9
10

104
104
105
105

324
336
324
325

Nov.
Nov.
Nov.
Nov.

500
500
500
495

84
86
86
86

585
588
587
582

Nov. 4
Nov. 11 .
Nov. 18...
Nov. 25...

210
210
210
210

15
19
18
17

105
105
105
105

330
334
333
332

Mar.
Mar.
Mar.
Mar.

5...
12. _
19..
26..

2
3

1
2
1
1 i




58

35

2
5

101

8

94

575
552
564
538
540
496
487
423
394

89
88
88
90

7

88
87
47
87
87
86
92
88
90

40

389
390
378
365

95
99
91
95

383
388
428
344
358
•

'

•

%h

332

55

RESERVE BANK CREDIT

No. 17a.—U. S. SECURITIES HELD BY F . R. BANKS IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930—

Continued.
[In millions of dollars]

Outside system investment account

Outside system investment account
In system invest1-day
All
ment Under Treas- other
acresale
ury
U.
count agree- certifi- securi
ment
cates
ties

All
other
U.S.
securi
ties

1925
Dec. 2._
Dec. O.Dec. 16.
Dec. 23.
Dec. 30.
1926
Jan. 6.Jan. 13Jan. 20.
Jan. 27.
Feb.
Feb.
Feb.
Feb.

3_.
10.
17.
24.

Mar. 3.
Mar. 10
Mar. 17
Mar. 24
Mar. 31
Apr. 6..
Apr. 13.
Apr. 20.
Apr. 27.
May 4_
May 11
May 18
May 25
June 2,.
June O.June 16.
June 23.
June 30.

July ? - .
July 14.
July 21.
July 28..

July
July
July
July

Aug. 4.
Aug. 11.
Aug. 18.
Aug. 25-

Aug. 3_.
Aug. 10.
Aug. 17.
Aug. "24.
Aug. 31 _

Se^8.
Se* ,.15.
Sept. 22.
Sept. 29.

Sept. 7.
Sept. 14
Sept. 21
Sept. 28
Oct. 5_.
Oct. 12.
Oct. 19.
Oct. 26.

Oct.
Oct.
Oct.
Oct.

6...
13..
20..
27-

6..
13.
20.
27.

505
510
500
511
526
530
705
621
548

Nov. 3..
Nov. 10.
Nov. 17.
Nov. 24.

33454—31


56

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 17a.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930—

Continued.

[In millions of dollars]
Amount heldOutside system investment account

Outside system invest- i
ment account
!

Date

Total

1-day
Under Treasresale
ury
certifiment
cates
1927
Dec. 7....
Dec. 14...
Dec. 21...
Dec. 28...

All
other
U.S.
securities

122
122
121
121

227
236
291
232

47
42
30
3
3

121
121
132
123
123

244
239
238
202
202

1
1
2
1

123
122
122
121

200
177
173
166

122
121
125
125

163
165
185
170
169
166
l'\
150

78

1928
Jan. 4.-..
Jan. 11—
Jan. 18—
Jan. 25—
Feb.
Feb.
Feb.
Feb.
Feb.

1....
8—
15...
21...
29...

Mar.
Mar.
Mar.
Mar.

7...
14-.
21..
28..

1
4
1
5

Apr.
Apr.
Apr.
Apr.

4.—
11...
18...
25—

4
4
10
11

115
112
111
112

11
12
18
16
7

116
116
117
116
117

11
38
10
20

103
107
106
112

lo
6
15«
145
147
170
139
150

July 3_—
July 11—
July 18—
July 25...

15
10
26
19
21

108
108
109
109
108

141
136
153
146
147

Aug.
Aug.
Aug.
Aug.
Aug.

31
28
22
19

96
95
91
90

158
154
149
145

Sept. 5 —
Sept. 12..
Sept. 19 _
.
Sept. 26..

22
32
47
26

91
91
95
95

149
159
178
152

Oct.
Oct.
Oct.
Oct.
Oct.

3—.
10—
17—
24—
31...

19
13
10
8
33

96
105
105
105
212

146
141
138
136
293

Nov. 1...
Nov. 14-.
Nov. 21-.
Nov. 28..

10
1
4
4

210
214
201
199

293
313
327

May 2
May 9
May 16_ _
May 23 _.
May29__
June 6
June 13...
June 20...
June 27...

1--.
8—
15..
22-.
29..




May 1_
May8_
May 15
May 22
May 29

19

J.49

57

RESERVE BANK CREDIT

No. 17a.—U. S. SECURITIES HELD BY F . R. BANES IN SYSTEM INVESTMENT
ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930—

Continued.
[In millions of dollars]
Amount held—

A mount held—

Date

Outside system investment account
In sysTotal
tem investAll
1-day
ment Under Treas- other
resale
acU. S.
ury
count agree- certifi- securiment
ties
cates

1929
Dec. 4
Dec. 11....
Dec. 1 8 —
Dec. 24. .
Dec. 3 1 —

153
178
223
262
278

3
1
24
10
23

1930
Jan. 8
Jan. 15
Jan 22
Jan. 2 9 —

278
278
278
278

Feb.
Feb.
Feb.
Feb.

5
12...
19....
26...

Mar.
Mar.
Mar.
Mar.

199
208
217
213
210

355
387
533
485
511

8
3

199
198
199
199

485
479
477
477

278
278
278
278

1
2
3
5

199
199
200
200

478
479
481
483

5...
12...
19..
26-..

278
304
327
327

1
2
3
3

207
208
202
199

486
514
561
529

Apr. 2 —
Apr. 9
Apr. 1 6 —
Apr. 23...
Apr. 3 0 —

327
327
327
327
327

4

2

199
200
200
200
200

530
527
535
527
530

May 7
May 14__May 21__.
May28__.

327
327
327
327

1
1
2
1

200
200
199
202

528
528
528
530

June 4
June 11...
June 18
June 25.—

342
377
377
377

2

21

200
202
200
200

544
579
598
577

8




69

29

Date

Outside system investment account
In sysTotal
tem invest1-day
All
ment Under Treas- other
resale
acury
U. S.
count agree- certifi- securiment
cates
ties

1930
July 2
July 9
July 16.—
July 2 3 —
July 3 0 —

377
377
377
377
377

Aug.
Aug.
Aug.
Aug.

6
13_._
20
27__.

377
402
402
402

Sept. 3
Sept. 10...
Sept. 17...
Sept. 24.__

402
402
402
402

Oct. 1
Oct. 8
Oct. 15
Oct. 22....
Oct. 29

402
402
402
402
402

Nov.
Nov.
Nov.
Nov.

5
12...
19...
26...

402
402
402
402

Dec.
Dec.
Dec.
Dec.
Dec.

3
10....
17
24—
31—

402
402
402
402
435

14
13

205
201
200
199
199
199
204
200
200

13
2
43

109

200
200
163
200

602
602
610
602
601
600
602
602
601

200
199
194
194

1

576
606
602
602

198
198
200
200
199

_
45

596
591
577
576
576

602
fOl
596
596

200
202
181
238
251

602
617
692
642
729

58
-No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
18.—HOLDINGS BY FEDERAL RESERVE BANKS OF O N E - D A Y CERTIFICATES
OF INDEBTEDNESS ISSUED BY THE UNITED STATES TREASURY, 1924-1930
[In thousands of dollars]

Date
Mar. 10.
Mar. 11.
Mar. 13.
Mar. 15.
Mar. 16.
Mar. 17.
Mar. 18.
Mar. 19.
Mar. 20.
Mar. 21.
Mar. 22.
Mar. 23.
June 8-10..
June 15
June 16
June 17
June 18
June 19....
June 20....
June 21_...

1924

184,000
1 184,000
108, 500
87,000
58,000
14,000

66,000
20,000

182,000
122, 500
100, 500
58, 500
34,500
»2,000
1 2,000

108, 000
42, 500
8,000

1926

209,000
157,000
99,000
38,000

4,000
246,000
141, 500
77,000
23, 000

148,000
75,000
40,000

172,000
91,000
34, 500

188,000
70,000

i 2-day certificates, account Sunday or holiday.
Back figures (JOT 1928)— See Annual Report for 1929 (Table 17).




1927

1928

1929

251, 500
201,000
314, 000
177, 500
208,000 1 181, 000
176,000 i 155,000 i 181, 000
79,000 1 155,000
129,000
1 48,000
75,000
60, 500
148,000
13,000
19,000
16,000
9,000
9,000
3,000
185,000
44, 500
15, 500
1 6, 500
16,500

192, 500
i 82,000
i 82, 000
5,000

196, 500
91, 500
i 54,000
i 54,000

177, 500
94,000
41,000

Sept. 15
Sept. 16
Sept. 1 7 . —
Sept. 18
Sept. 22-23.
Oct. 18
N o v . 15
N o v . 16
Nov. 17
Nov. 18
Nov. 19-20.
Nov. 21
Nov. 22
Nov. 23-24.
Nov. 25
Nov. 26-27.
Nov. 28
Nov. 30
Dec. 1_
Dec. 2
Dec. 3-4
Dec. 5
Dec. 6
Dec. 7
Dec. 8
Dec. 9
_
Dec. 10-11..
Dec. 12
Dec. 13
Dec. 14
Dec. 15
Dec. 16
Dec. 17
Dec. 18
Dec. 19
Dec. 20
Dec. 21-22-.
Dec. 23

1925

6,000
89, 500
164, 500
214, 500
134, 500
156, 500
45, 500
62,000
i 80, 500
20, 500
i 27,000
38,000
2,000
4,000
15,000
i 27,000
38,000
47,000
50,000
54,000
58,000
i 57,000
54,000
50,000
40,000
197, 500 i 316,000
106, 500 1 316,000
132,000
1 57,000
183,000
i 57,000
77,500
10,000
63,000

1930
2,000
1,000
5,000
1218,000
i 218,000
105, 500
56, 500
29,000
35, 000

239, 500
239, 500
50, 500

114,000

162, 500
33,000

104, 500
54,000
45, 000
3,000

312, 500
99, 500
69,000
19,000
9,000
i 4,000
3,000

135,000
68,000
109,000
55,000
3,000

RESERVE BANK CREDIT

59

VOLUME OF OPERATIONS OF FEDERAL RESERVE BANKS
No. 19.—VOLUME OF OPEBATIONS IN PRINCIPAL DEPARTMENTS, 1926-1930
i Number in thousands; amounts in thousands of dollars]
1926

1927

1929

1930

NUMBER OF PIECES HANDLED

Bills discounted:
Applications
Notes discounted
Bills purchased in open market for own
account
_
Currency received and counted
Coin received and counted
Checks handled
Collection items handled:
United States Government coupons
paid..
___
All other
_
_
__.
United States securities—issues, redemptions, and exchanges by fiscal agency
department
Transfers of funds
_

123
506

97
371

123
443

145

99
415

232
2,099,605
2,590,057
822,907

254
2,194,608
2,691,184
862,275

251
2,270, 555
2,929,091
887,997

196
2,427,330
3,239, 709

924,449

208
2,441,989
3,325,555
904,975,

39,678
5, 595

37,045
5,909

28, 765
6,461

20,935
6,504

19,36?
6,388

4,691
1,710

7,201
1,830

6,682
2,011

1,833
2,139

1,417
1,868

37,682,137

31,934, 607

62,412, 961 60, 747,124

14,067,117

AMOUNTS HANDLED

Bills discounted
Bills purchased in open market for own
account
_
Currency received and counted
Coin received and counted
Checks handled
Collection items handled:
United States Government coupons
paid....
All o t h e r . . .
United States securities—issues, redemptions, and exchanges by fiscal agency
department
_.
Transfers of funds
_
_.

3, 353,326 4,050, 867
4, 240,669 3, 587,478
3,873, 698
12,584,960 12, 939, 578 13, 315, 551 14, 782,429
14,262,809
r
r
475,033
••432,131
••451,125
478, 219
537, 534
272,945,160 278,399,627 301, 703, 814 367,215,123 324,883,021
644, 273
6,219, 361

553, 703
6, 710, 317

543, 373
7,414,440

535,612
7,185,384

499, 111
7,528,014

4,971,442 10, 803,043 9,002, 383 7,018,844
120,909,439 136, 383,899 148,749,027 170,789,669

7. 245,189
198,880,880

' Revised.
Back figures.—See Annual Reports for 1925 (p. 26), 1924 (p. 14), and 1923 (p. 41).




60

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

GOLD SETTLEMENT FUND
No. 20.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, 1924-1930
[In millions of dollars]

Daily settlements
between Federal
reserve banks

Balance
at
beginning
of period

Year and month

Transit

clearing

1924
1925
1926
1927
1928
1929_-.___
1930

571.1
679.5
689.2
665.3
528.2
687.0
511.2

97,698. 3
108, 289. 5
115,455. 3
123, 031. 5
132,525. 2
145,132. 4
151,458. 3

511.2
650.1
646.2

April
May
June

Interreserve
Withbank
drawals Deposits
transfers

Federal
reserve
note
clearing

0)
0)

Balance
at end of
period

635.8
673.2
658.4
758.7
669.4

919.6
909.0
1,043.4
1, 436. 7
1,172. 6
1, 052.1
1, 530. 2

1,921.8
1,779. 0
3,029.2
3, 797. 3
2,855. 6
3,160.4
2,063.8

2,030.2
1, 788. 6
3,005.3
3, 660. 3
3,014.4
2,984. 5
1,970.0

679.5
689.2
665.3
528.2
687.0
511.2
417.4

12, 327. 3
10,904. 7
12, 799. 7

91.0
59.9
64.4

25.5
62.9
207.5

138.5
173.5
287.6

277.4
169.5
243.4

650.1
646.2
601.9

601.9
634.8
626.6

12,031.5
12, 232. 3
13, 629. 3

54.5
55.8
53.3

90.0
42.5
220.2

103.8
153.7
159.6

136.8
145.5
136.1

634.8
626.6
603.1

July
August
September. „

603.1
596.2
571.3

14,185. 1
11,739.8
12, 222. 0

56.1
48.8
53.0

60.0
43.5
299.2

168.8
126.4
119.8

161.9
101.4
97.9

596.2
571.3
549.4

October
November
December

549.4
514.5
472.0

13, 357.1
12, 026. 2
14, 003. 3

54.0
41.6
37.3

79.5
106.5
292.9

148.1
167.2
316.9

113.2
124.7
262.3

514.5
472.0
417.4

January
February
March

1

_.
1930
__

Included in transit clearing.

Back figures.—Se& Annual Report for 1929 (Table 19), 192S (Table 20), 1927 (Table 68), etc.

FEDERAL RESERVE AGENTS' GOLD FUND
No. 21.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, 1924-1930
[In millions of dollars]

Year and month
1924
1925
1926
1927
1928
1929
1930

January
February
March
April
May

June
July
August
September
October
November
December

Balance at

Transfers
from bank

149.5
126.0
112.3
63. 3
70.5
149.9
.5

1,022 8
975.6
1, 799.4
2,458.4
1,631.4
1,500.6
1,101.7

1,158.3
1,061.7
2, 258. 5
2,914. 3
1, 768.1
2,210. 2
947.8

1,307.9
960.2
963.4
1, 028.3
761.9
1.262.9
1,109.4

.5

141.4
67.0
75 6

105.9
53.3
154.4

1, 227. 4
1,213.7
1, 293.1

1,293 1
1,240.1
1,205. 7

80.2
90.0
95.0

27.3
55.6
82.4

1,240.1
1,205.7
1,193.1

1,193.1
1 145 8
1,114.3

103.2
42 0
42.0

55.9
10.5
37.0

1,145.8
1,114.3
1,109. 3

1,109 3
1,129.9
1,110. 3

56.8
96.3
212.3

77.4
76.7
211.5

1,129.9
1,110.3
1,109. 4

1,648 9
1,307.9
960 2
963.4
1,028.3
761 9
1, 282. 9

Withdrawals

626.0
559.8
568.2
454.2
473. 6
358.5

Deposits

1930

.

1,262.9
1,227.4 i
1 213 7

_

Back figures.—See Annual



Balance at
end of
period

Transfers
to bank

beginning
of period

Reports for 1929 (Table 20), 1928 (Table 20), 1927 (Table 68), 1926 (Table 63), etc.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

61

MEMBERSHIP IN PAR COLLECTION SYSTEM
No, 22.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, 1923-1930
[The figures for member banks, beginning with March, 1925, represent the number of banks in actual
operation; prior to that time the number of banks shown by capital-stock records of Federal reserve
banks]

End of month Member
banks

Nonmember
banks

Nonmember
banks

Member
On p a r Not on banks
list par list

1926

1925

1924

1923

On p a r | N o t on
list I par list

Member
banks

Nonmember
banks

Nonmember
banks
Member
On p a r i N o t on banks On par Not on
list p a r list!
list par list

January. __
February..
March
April..

9,911
9,917
9,922
9,923

17, 777
17, 724
17, 692
17, 663]

2, 289
2, 282
2, 285
2, 280

>,875i
1,856!
>,820;
(,806;

16,484
16,3371
16,246
16,1191

3,013 9,674j
3,084 9,662|
3,142 ' 9,535
3,185 9,540

15,361
15,268
15,193
15,079

3,679; 9,459 14,540
3,733! 9,437 1A Ann
3,757; 9,425 14, 441
3,824; 9,410 14, 382

3,986
3,990
3,981
3,963

May_._
June
July—.
August.

9,927
9, 933
9,916
9,905

17, 643
17, 589|
17, 565!
17, 3811

2, 279
2, 310
2, 324
2,489

9,785;
9, 763J
9,745;
9,733;

15,9811
15,896|
15,820!
15,736

3,240|
3, 301 i
3,353
3,419

9,550
9,546;
9,544,
9,540;

14,970
14,932
14,888
14,857

3,869|
3,880
3,906
3,940,

9,400;
9,384
9,377i
9,377!

14,325
14,257|
14,207
14,164

3,971
3,965
3,901
3,907

September
October
November
December

9,906
9,898
9,889
9,896

17, 2551
17,1141
16, 919
16, 725

2, 580
2, 672
2, 791
2, 896

l,718i
1,708
1,7001
>,682j

15,662! 3,496i
15, 6011 3, 5501
15,524: 3,612
15,445 3,647

9,545
9, 532i
9,521
9,489!

14.786
14,742
14,701
14,643

3,963
3,968
3,968
3,970

9,360!
9,3361
9,301
9,260

14,130
14,073
13,991
13,911

3,924
3,935
3,925
3,913

1927

1928

1929

1930

Nonmember
Nonmember
Nonmember
Nonmember j
banks
banks
banks
End of month Membanks
I,,
MemMember
ber
ber
; Membanks On par Not on; banks On par N o t on banks On par Not — ib aber s On par Not on
onj n k
list Ipar list
list | list '
list jpar list!
list par list
January
February
March
April
May._
June
July.August

13,852! 3,865
13, 781s 3,833|
13, 7001 3,839J
13, 643 3,858,

9,014
8,987
8,971
8, 949

_

13, 589;
13,556
13, 528;
13,486

3, 867
3,8631
3,8571
3,858?

13,155
13,101 j
13,035!
12, 960;
!
8,935 12,925J
8,929 12,888!
8,920 12,864!
8,912 12,838J

September. _.
October
November. __
December

13,43013, 358;
13, 306!
13,247;

3,877
3,890
3,913
3,910

8,!
8, 893
8,882
8,837

I

12,800j
12,758!
12, 7131
12,643

3,918
3,905
3,910
3, 908

8,807
8,777
8,758
8,743

12,567
12,506!
12,466j
12, 411

3,913!
3,909|
3,9011
3,903

8,4861 11,943
'
^
8,44' 11,864
8,407 11,776
8, 382 11,703

3.728
3,712
3,689
3,645

3, 916
3, 926
3,934

8,731
8,707
8,677
8,656

12, 346
12, 318
12, 275
12,242

3,829
3,812|
3, 779!
3,779

8, 359
8,315
8,284
8,271

11,635
11,559
11,485
11,412

3,640
3,629
3,624
3,632

3.954
,
3,936j 8,602
3,913! 8, 569
3,911 8,522

12, 221
12,175
12,104
12,045

3,777
3,769i
3,761!
3, 7541

8,252
8,228
8,159
8,052

11,338
11,269
11,129
10,956|

3,625
3,607
3,532
3,437

3,r

1
Reduction from preceding months due largely to exclusion of member banks carried on capital-stock
records, but not in actual operation; on this date (March 31,1925) the number of such banks was 108.
NOTE.—Nonmember banks not on par list comprise all incorporated banks, other than mutual savings
banks, that have not agreed to pay, without deductions for exchange, such checks drawn upon them as are
presented for payment by the Federal reserve banks.
Backfigures.—SeeAnnual Report for 1928 (Table 21).




62

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

FEDERAL RESERVE BANK PREMISES
No. 23.—COST OF BANK PREMISES OF FEDERAL RESERVE BANKS AND BRANCHES
TO DECEMBER 31, 1930
NEW BUILDINGS CONSTRUCTED BY FEDERAL RESERVE BANKS

Federal reserve bank
or branch

Cost of buildings
Cost of
land, including
Fixed
old build- machinings de- ery and
molished, equip- All other Total
net
ment

Boston
_. $1,246,726
New York:
Main building
4,850,210
Annex building
592, 679
Cleveland..
1,295,490
Pittsburgh. _
781, 364
Richmond
352, 257
Baltimore
250,487
Atlanta
283,000
Birmingham124,137
Jacksonville
45,842
New Orleans
_
201, 250
Chicago
2,963, 548
Detroit
650, 000
St. Louis
_. 1,355,374
Little Rock
85,007
Memphis
100,906
Minneapolis
600,521
Kansas City.
495, 300
Denver
101, 512
Oklahoma City
65,021
Omaha
176,427
181,120
Dallas
El Paso
__
39,003
Houston
66, 313
San Antonio
_
75, 002
San Francisco
412, 996
Los Angeles
_.
454,983
Salt Lake City
114, 075

Total
cost of
land and
buildings

Book
value,
net

Date occupied

$662,157 $3, 542, 603 $4, 204, 76O'$5,43l, 486 $3,457,889
March, 1922.

2,819, 733 11,928,960 14, 748,693:19, 598,903 13,017,860October, 1924.
194,344 1,472,644 1,666,988] 2,259,667 1,546,425
1,431,921 6, 582,226 8,014,147i 9,309,637 5, 284,738 0).
49, 640
49,640: 831,004 831,004 August, 1923.
2
410,409! 2,216,025 '2,626,434! 2,978,691 1, 666,636 ( ).
306, 843 1, 259, 997 1,566,840 1,817,327 1,582,657 October, 1921.
175, 279 1, 355,487 1,530,766 1,813,766 1,157,080 September, 1928.
46,788 311, 336 358,124 482,261
369,464 October, 1918.
25,956 214, 31
240, 268 286,110 195, 562 January, 1927.
159, 502 738,404) 897,906' 1,099,156 675,703 June, 1924.
1,276, 579 6, 217; 105| 7,493,684|l0,457,232 6,3841943 October, 1923.
113,161 1,003,438 1,116,599! 1,766,599 1,676,216 July, 1922.
1,058,979 2,178,866 3, 237, fi 4,593,219 2,731,233 December, 1927.
101,143 235, 544 336, 687 421, 6941 305,890 June, 1925.
41,496 234,859 276, 355 Q77 OA1 I 345, 398 March, 1925.
377, 261
520,054 2,416, 745 2,936, 799 3, 537,320 1,865,406 June 3, 1929.
777,940 3,391,101 4,169,041 4,664, 341 2, 509,669 February, 1925.
55,448 449,876 505,324 606,836 434,512 November, 1921.
74,891 409,890 484, 781 549,802 359,461 November, 1925.
70,487 397,938 468,425 644,852 499, 753 April, 1923.
325, 353 1,169,871 1,495, 224 1, 676, 344 1,157,280 December, 1925.
10,374 111,819
122,193 161,196
115.131 March, 1921.
59, 707 288,091 347,798 414, 111 311,961 August, 1920.
157,811
178,830 253,832 245,860 February, 1922.
21,019
October, 1928.
700, 661 3,218,654 3,919,315 4, 332, 311 2,488,505 December, 1923.
282,171 977,985 1, 260,156 1, 715,139 1,667,362 April, 1930.
71,873 354, 390 426, 263 540, 338 465.132 February, 1927.
17,960,550 11, 794, 268 52,885,617 64, 679,885 82, 640,435 53, 348, 730

Total

BUILDINGS PURCHASED BY FEDERAL RESERVE BANKS
[Amounts shown under "Cost of land" represent appraised value of land—remainder of actual cost included in "Cost of buildings"]
New York (No. 10 Gold
Street)
Buffalo
Philadelphia
Pittsburgh
_
Nashville
Louisville
Helena
Total
Grand total.

$45,000
255,000
1, 652, 957
297, 000
48,000
131,177
5,000
2, 434,134

$125,864 $125, 864 $170,864
$96, 700 C 1 ).
465, 707 465, 707 720, 707
579, 300 May, 1928.
$339,584 2, 054,932 2,394, 516 4,047, 473 2, 614, 467 December, 1917.
138, 994
560,460 699,454 996,454
717, 233 February, 1920.
174, 711 December, 1922.
211,616 236, 717 284, 717
25,101
227, 669 261,319 392, 496
253,416 June, 1919.
33, 650
156, 290 172, 399 177, 399
60, 361 February, 1921.
16,109
553,438 3,802,538 4, 355, 976 6, 790,110 4, 496,188

20, 394, 684 12,347, 706 56, 688,155 69, 035, 861 89, 430, 57,844, 918
545

1

Occupied by tenants.
2 Building under construction.
Addition under construction.
NOTE.—No bank buildings or sites therefor have been acquired for the following branches and agencies:
Branches—Charlotte, Portland, Seattle, Spokane; agencies—Savannah, Habana. The Cincinnati branch
since January 3, 1928, has occupied quarters in the Chamber of Commerce building, erected on the site
leased to the Cincinnati Chamber of Commerce by the Federal Reserve Bank of Cleveland.
3




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

63

EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS
No. 24.—GROSS AND N E T EARNINGS OF FEDERAL RESERVE BANKS, AND DISPOSITION MADE OF N E T EARNINGS, 1914-1930
[Figures for ejich Federal reserve bank are given in Table 85]
Disposition of net earnings

Earnings
Year

Net

Dividends
paid

Transferred to
surplus i

Franchise Profit (+)
tax paid to or loss (—)
U. S. Gov- carried
ernment i
forward

1914-15..
1916
1917
1918
1919

$2,173, 252
5,217, 998
16,128, 339
67, 584, 417
102, 380, 583

-$141,459
2, 750,998
9, 579, 607
52, 716, 310
78, 367, 504

$217,463
1, 742, 774
6,801, 726 $1,134, 234
5, 540, 684 48, 334, 341
5,011,832 70,651,778

$1,134,234

1920..
1921..
1922..
1923..
1924..

181,296,711 149, 294, 774
122,865, 866 82, 087, 225
16, 497, 736
12, 711, 286
50, 708, 566
38, 340,449
3, 718,180

5, 654,018 82,916, 014
6,119, 673 15,993,086
6, 307, 035 -659,904
2, 545, 513
6,552,717
6,682,496 -3,077,962

60, 724,742
59,974,466
10,850, 605
3,613,056
113, 646

6,915,958
2,473, 808
8,464,426
7,329,169
7, 754, 539 5, 044,119
8, 458, 463 21,078, 899
9, 583, 913 22, 535, 597
10,268,598 -2,297,724

59,300
818,150
249, 591
2, 584, 659
4,283, 231
17,308

1925.,
1926..
1927..
1928..
1929
1930

_

Total

41, 800, 706
47, 599, 595
43,024,484
64,052,860
i 70,955, 496
! 36,424,044

9, 449,066
16, 611, 745
13,048, 249
32,122,021
36,402, 741
7,988,182

i 941,052,065 523, 204,165 100,941, 058

275,136,225

-$358,922
+1,008,224
+509,413
-1,158,715

2,703, 894

147,126,882

1

Amount paid as franchise tax for 1922 includes additional franchise tax payments for prior years withdrawn from surplus account on December 31, 1922, as follows: For 1920, $270,389; for 1921, $3,129,673.
No.

25.—EARNINGS OF FEDERAL RESERVE BANKS, BY SOURCES, 1914-1930
Earnings

Total

On
discounted
bills

On
purchased
bills

On

United
States
securities

Deficient
reserve
penalties

From
miscellaneous sources

1914-15
1916
1917
1918
1919.

$2,173, 252
5, 217,998
16,128, 339
67, 584, 417
102, 380, 583

$1, 218, 516
1,025, 675
6,971,479
48, 348,007
80, 768,144

$244, 664
1, 560,918
4,951, 729
11, 939, 808
13,994, 544

$171,831
1,106,860
2, 367,989
3,828, 782
5, 761,300

194,526
698,991
727,844

$538,241
1,523,388
1,642,616
2,768, 829
1,128,751

1920
1921
1922
1923
1924

181,296,711
122, 865, 866
50, 498, 699
50, 708, 566
38, 340, 449

149,059, 825
109, 598, 675
26, 523,123
32, 956, 293
15, 942, 845

22,020,158
5, 234,141
5, 628,956
9, 371, 288
5, 709,809

7,140, 615
6, 253, 854
16,682,463
7,444, 089
14, 712, 593

1, 573, 335
1,177,562
602,951
521,061
381, 619

1, 502, 778
601, 634
1,061, 206
415,835
1, 593, 583

1925
1926
1927
1928
1929
1930

41, 800, 706
47, 599, 595
43,024, 484
64, 052, 860
70, 955,496
36, 424,044

17, 679, 549
22, 551, 561
17,010, 778
38, 334,140
47, 790, 662
10,672,215

9,103, 915
10, 003, 081
9, 206, 677
13, 020, 535
12, 063, 349
6,081,187

12, 783,001
12,589,119
14, 206,174
10, 827, 702
8,163, 486
17,273,331

310,406
382, 946
273, 839
277,401
449, 653
225, 748

1,923, 835
2,072, 888
2,327,016
1,593,082
2, 488, 346
2,171,563

941,052,065

626,451,487

140,134, 759

141,313,189

7,799,039

25,353,591

Total




$1,157

FEDERAL RESERVE NOTES
No. 26.—FEDERAL RESERVE NOTES—FEDERAL RESERVE AGENTS' ACCOUNTS AT THE END OF EACH
[In thousands of dollars]
1929
D e c . 31
Federal reserve notes received from the
comptroller.._
.
Federal reserve notes held by Federal
reserve agents
Federal reserve notes issued to Federal
reserve banks:
Held by issuing Federal reserve bank..
Held by other Federal reserve banks..
Held by United States Treasury
In circulation *
Total notes issued.
Collateral held as security for Federal reserve notes issued to Federal reserve
banks:
Gold and gold certificates in vault—
Gold bullion
United States gold coin
Gold certificates

MONTH

1930
J a n . 31

F e b . 28

M a r . 31

A p r . 30

M a y 31

J u n e 30

J u l y 31

Aug. 31

Sept. 30

Oct. 31

N o v . 30

Dec. 31

3, 644, 332 3, 461, 202 3,374, 407 3,131, 961 3,100, 743 3, 055, 510 3, 027,530 2, 962,169 2, 941, 684 2, 933,232 2,916, 941 3,078, 983 3,555,661
1, 217, 748 1,384,110 1, 347, 05; 1. 215, 526 1, 273,756 1, 271, 469 1,281, 030 1,258,415

1,212,922

1,153,650

1,133,585

1, 227,234 1,462,036

2, 426, 584 2,077, 092 2,027,350 1, 916,435 1, 826,987 , 1,784,041 1, 746, 500 1, 703,754 1, 728, 762 1,779, 582 1,783,356

117,968
188,065
108,015

117,968
189,450
115,326

117,968
189, 570
£8,147

]17,968
214,570
69,490

117,968
214,650
69,490

117,'
214,650
69,390

117,968
215,250
69,890

117,968
215, 250
69,690

165, 010
215,250

165, 010
215,250
69,690

165,010
215,250
70,500

1,851, 749 2,093,625

165, 010
245,250
71,840

187,919
255,820
177,270

Total in vault
In gold fund, Federal Reserve Board..

414,048
422, 744
405,i
402, 028( 402,108
403,108
402,908
449,950
482,100
402,008
621, 009
449,950
450, 760
1,262,870 1,227,420 1,213, 720 1,293,056! 1,240,106 1,205, 706 1,193,106 1,145,806 1,114,306 1,109, 306 1,129,856 1,110,256 1,109,430

Total gold and gold certificates
Eligible paper

1,676,918
970,462

Total collateral held
Collateral required as security for Federal
reserve notes
Collateral pledged in excess of Federal reserve notes issued

1,650,164 1, 619,405 1,695,084 1, 642,214 1,607,714 1, 596,214 1, 548,714 1, 564,256 1,559,256 1, 580,616 1, 592,356 1,730,439
664, 389
594,683
491,048
373,354
312, 743
452, 200
415,601
576,358
400, 051
430, 807
360, 670
507, 788

2,647,380 2,314,553 2,214,088 2,271,442 2, 073,021 2,098, 762 1,969,568 1,861,457

220, 796

237,461

186, 738

355, 007

246, 034

314, 721

223,068

157, 703

196,164

231,874

212,861

140,658

144, 602

It differs from that given in Table 8, by the amount of Federal reserve notes held by (a) other

Back figures.—See Annual Report for 1929 (Table 25), 1928 (Table 25), 1927 (Table 76), etc.

i

1,924,926 2,011,456 1, 996,217 1, 992,407 2,238,227

2,426,584 2,077,092 2, 027, 350 1,916,435 1, 826, 987 1, 784,041 1, 746, 500 1, 703, 754 1, 728, 762 1, 779, 582 1, 783, 356 1,851, 749 2, 093,625

i This figure corresponds with that given under the same caption in Table 32.
Federal reserve banks and (6) the United States Treasury.




1

516, 861
366, 526
322,180
322, 728
354,88,
371,374
319, 719
295,114
361, 936
400, 708
415, 601
396,494
430, 087
42,148
27,623
19, 982
19,812
24,721
20, 008
20,968
20,614
19, 471
18,266
16,418
13, 571
21, 993
5,154
4,548
1,764
3,217
2,749
2,604J
1,763
872
1,216
1,405
2,100
1,
1,020
1,862, 421 1, 678, 395 1, 628, 038 1,571,498 1,483,696 1,466,550 1,402, 026 1, 320, 247 1,353,193 1, 359,392 1, 349, 932 1,440, 003 1, 640,525

W
O

I

GOLD STOCK, GOLD MOVEMENTS, AND
MONEY IN CIRCULATION




65

GOLD
No. 27.—MONETARY GOLD STOCK 1 OF THE UNITED STATES, 1914-1930
[In millions of dollars]
End of month figures
End of month
1914

1915 | 1916 1917

1,923
1,919
1,931
1,942
1,929
1,891
1,859
1,853
1,844
1,808
1,807
1,813

1,822
1,838
1,869
1,893
1,929
1,986
2,007
2,076
2,124
2,198
2,260
2,312

1922

1923

1924

3,685
3,723
3,750
3,764
3,771
3,785
3,829
3,855
3,873

3,953
3,963
3,970
3,982
4,028
4,050
4,079
4,111
4,136
4,167
4,2Q7
4,244

4,289 4,423 4,412
4,323 4, 364 4,423
4,364 4, 339 4,442
4,411 4,342 4,438
4,455 4,357 4,433
4,488 4,360 4,447
4,511 ' 4,367 4,471
4,521 ' 4,382 4,473
4,511 4,382 4,466
4,509 4,407 4,473
4,527 4,397 4,477
4,499 4,399 4,492

JanuaryFebruary..
March
April
May
June
July
August
September
October
November.
December.
End of month
January...
February..
March
April
May
June
July
August
September.
October...
November.
December.

3,906
3,929

2,325
I 2,325
I 2,323
2,318
j 2,336
I 2,445
| 2,506
! 2,549
j 2,630
2,714
; 2,736
I 2,843
1925

1920

3,160
3,162
3,165
3,166
3,172
3,163
3,162
3,161
3,153
3,156
3,159
3,160

3,162
3,165
3,165
3,177
3,177
3,113
3,064
3,125
3,147
3,103
3,044
2,994

2,930
2,887
2,850
2,841
2,856
2,865
2,862
2,851
2,873
2,868
2,897
2,926

1926

1927

1928

1929

4,564
4,586
4,597
4,610
4,608
4,587
4,580
4,588
4,571
4,541
4,551
4,379

4,373
4,362
4,305
4,266
4,160
4,109
4,113
4,123
4,125
4,142
4,128
4,141

4,127
4,153
4,188
4,260
4,301
4,324
4,341
4,360
4,372
4,386
4,367
4,284

1914

1915

1916

1,918
1,921
1,925
1,936
1,935
1,910
1,875
1,856
1,848
1,826
1,807
1,810

1,817
1,830
1,854
1,881
1,911
1,957
1,996
2,042
2,100
2,161
2,229
2,286

2,319
2,325
2,324
2,320
2,327
2,390
2,475
2,528
2,590
2,672
2,725
2,789

1922

1923

1924

1925

1926

3,672
3,704
3,736
3,756
3,768
3,776
3,803
3,840
3,860
3,884
3,896
3,917

3,945
3,960
3,966
3,975
3,993
4,040
4,061
4,097
4,123
4,155
4,182
4,226

4,266
4,302
4,340
4,383
4,433
4,471
4,503
4,516
4,515
4,506
4,517
4,507

4,468
4,392
4,340
4,340
4,353
4,360
4,362
4,372
4,386
4,391
4,407
4,397

4,407
4,425
4,444
4,448
4,434
4,438
4,460
4,467
4,471
4,472
4,477
4,481

January...
February..
March
April
May
June
July
August
September
October...
November.
December.

1919

2,922
2,996
3,105
3,137
3,133
3,220
3,190
3,165
3,151
3,153
3,154
3,155

Averages of end of month figures
Month

1918

2, 966.
3, 000»
3,0863,164
3,231
3, 275
3,347
3,439
3»519>
3,572
3,627
3,660
1930

4, 291
4,353:
4,423.
4,491
4,517
4,535
4,517
4,501
4,511
4,535
4,571
4, 592

Averages of daily figures
1918

2,882
2,959
3,050
3,121
3,135
3,177
3,205
2 3,183
2 3,152
2 3,151
2 3,153
2 3,153

1921

1919

1920

3,152
3,159
3,162
3,163
3,163
3,162
3,161
3,157
3,156
3,151
3,155
3,156

3,160
3,162
3,161
3,166
3,176
3,169
3,087
3,114
3,143
3,120
3,070
3,021

2,961
2,909
2,859
2,821
2,835
2,854
2,862
2,855
2,847
2,855
2,873
2,894

1927

1928

1929

4,527
4,576
4,595
4,601
4,651
4,606
4,575
4,585
4,584
4,566
4,490
4,416

4,377
4,373
4,335
4,287
4,207
4,119
4,113
4,118
4,125
4,133
4,151
4,142

4,115
4,143
4,166
4,226
4,292
4,311
4,335
4,351
4,368
4,381
4,374
4,324

1921
2,931
2,975
3,040
3,117
3,197
3,254
3,305
3,392
3,479
3,547
3,595
3,64a

Averages of daily figures
Month
January...
February..
March
April
May
June
July
August
September
October...
November.
December.

1930
4,283
4,317
4,394
4,443
4,505
4,528
4,532
4,496
4,503
4, 520>
4,553.
4, 58S

1 Gold coin and bullion (including foreign coin) held by United States Treasury and Federal reserve
banks (including gold held under earmark abroad) and United States gold coin in circulation. Amounts
held abroad under earmark (end of month figures) as follows: 1917, June-December, $52,500,000; 1918.
January-May, $52,500,000; June, $16,271,000; July, $11,630,000; August-December, $5,829,000; 1919, JanuaryMarch, $5,829,000; August, $107,119,000; September, $159,618,000; October, $149,166,000; November, $135,694,000; December, $131,320,000; 1920, January, $114,322,000; February,$112,822,000; March-April, $112,780,000; May-July, $111,530,000; August-September, $111,458,000; October, $16,536,000; November-December, $3,300,000; 1921, January-February, $3,300,000; 1927, May, $59,548,000; June, $23,300,000.
2
r
Averages of daily
figures.
Revised.




67

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No.

28.—GOLD

l

EARMARKED BY FEDERAL RESERVE BANKS FOR FOREIGN

ACCOUNT, BY MONTHS, 1916-1930
[In thousands of dollars. For other statistics of earmarked gold see Table 27, note 1]
End of month

1916

January
February...
March
April..
May
June
July—
August
September..
October
NovemberDecember..
End of month
January
,
February
March.
April
May
Tune
July
,
August.
September....
October
November
December

1917

6,097
6,097
6,097
6,097
6,097
6,097
6,097
6,778
6,942
6,942
6,942
6,942

2 2,391
4,571
4,571
5,071
5,402 !
5,502
5,955
5,981
5,981
6,097
1923

1924

5,329
1,000
1,000

1919

6,942
6,942
6,942
6,942
6,942
6,942
6,942
6,942
6,942
6,942
6,942
6,942

3,000
4,000
5,000

19,012
30,012
53,000
53,000
53, 000
53, 580
49, 580
30, 380
32, 780
32,776
40, 274
39, 266

; ' 52,389
'61,714
r 46, 864
' 30,889
; ' 25, 814
! r 28, 915
; •" 17,340
| 15,839
12, 969
10, 969
12,969

i Gold bullion (bars) and United States gold coin.

19,779
16,599
18,101
19,101
114,101
114,601
114,417
116, 918
125.918
150.919
190,919
199,419

1921

6,000
5,000
6,000
9,000
10,000
11, 500
14, 500
16, 500
17,500
20,000
20, 500
22,000

18,010
20,000
20,000
20,000
20,000
23,000
18,000
18,000
8,000

1928

6,942
6,942
6,842

1926

46,023

3,000;

1920

1927

1925

2,407
4,859
5,417
4,417
2,417
5,000
12,984
26,213
43,213
43,713
45,213

1,500
1,500
1,000
3,000
3,000
3,000

1918

1929

193,919
191, 051
155, 251
109, 511
136,050
105,997
45,050
39,134
40, 334
39,134
64,136
79,897

1922

1,500
1,700
3,700

1930

144,898
144,898
137, 391
88,821
72,694
80, 207
102,194
103,194
109, 795
114, 296
113, 292
135, 295

* First transaction Mar. 21, 1916.

r

r 134, 794
r 134, 794
119,795
119, 295
117, 295
115, 295
118, 295
118, 295
114, 303
120, 410
127, 536
137,695

Revised.

No. 29.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY

COUNTRIES, 1927-1930
Lin thousands of dollars]
Exports from United States

Imports into United States
To—

From—
1927

Belgium
France
Germany
Great Britain _
Greece
Italy
Netherlands
Spain
Sweden
Canada
Central America
Mexico
West Indies
Argentina
Bolivia
Brazil
Chile
Colombia
Ecuador
Peru
Uruguay
Venezuela
Australia
China
. .
Dutch East Indies
Hong Kong...
Japan
_.
New Zealand
Philippine Islands...
Portuguese Africa...
All other
Total

1928

1
21,048
154
1
1
39, 396 37, 524
3,406
2
7
15,075
3
1
32
75
63, 650 102, 371
1,224 1,041
6,001
4,610
329
631
23 4, 500
4
7,021
1,489
2,247
2,268

624
1, 374
1,483
1,458

531
21, 920
1,674
1,499

481
3
1,262

20,000
259
1,667
43
123

4
773
1,773
13
5,331

1929
1
202
46, 773
62, 390
5
5
75
73,880
1,030
9,174
423
72, 478
3,589
528
5,292
1.373
1,921
250
383
4,870
1,077
1,199
650
715
3,262
7
90

1927

1930
Belgium
133
27
14

1 France _ .
Germany
Great Britain
Italy

_

1928

1929

1930

2,200 2,000
10,000 308,002 65, 381 73,808
13,994 28, 759 2,384
201
8,562 32, 525 21,086
289
3,001
26,093
1
8,055 4,000
1
5,000 6,000 5,010

4 Netherlands
17 Poland and Danzig..
93 Spain .
1,027
1,341
.
502 | Sweden
12
10, 007
43, 618 Switzerland
29, 698 22, 641
1,697 Canada . _
390 36, 746
253
323 1,052
20,805 i Central America
6,984 4,490 3, 605
2,184 Mexico
415
40
101
33
20, 272 West Indies
61,499 69,400
2,730 Argentina
50
34, 351 25,012
87, 776 Brazil
438 Colombia
_ 1,001 2,053
2,000 9,000
9,097 Uruguay
1,530 5,970 1,600
1,551 Venezuela.. _ .
965
2,974 1,485
6,896 British India
87
8,354' British Malaya.
3,064
677
706
878 1,827
4,747 China
103
54 Dutch East Indies
50
1,960 2,531
1,280
401
6,288 7,547 2,408
10,326 Hong Kong
21
1,752 Japan
124
248
_ __
_
40
62
47
15
Allother
156,609;
201, 455 560, 759 116, 583 115,967
Total
220:
3, 715;
132

207, 535 168, 897 291, 649 396,054;

I

Back figures.—See Annual Reports for 1929 (Table 28), 1928 (Table 29), 1927 (Table 19), 1916 (Table 102),
and 1925 (Table
 102). Forfiguresby months (by countries) see Federal Reserve Bulletin.


69

GOLD
No.

30.—GOLD

IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY

MONTHS, 1921-1930
[In thousands of dollars]

year and month

1921
January
February
March
April
May
June
_
July
August
September..
October
November..
December...
Total..

Imports

Exports

33,634
42. 627
87, 272
80, 662
,58,171
43, 576
64, 247
84. 902
66.085
47,107
51, 299
31. 666
691, 248

2,725
1,036
710

1922
January..
February.
March.
April...
May...
June.-.
July...
August
September.
October . . .
November
December.

384
1,063

774
3,735
672
2,448
7,576
607
2,162
23, 891

1, 732
963
1,579
3,407
1,601
644
956
1,399
17, 592
3,431
2,710
16, 875

1923
January.
February.
March
April
May.
June
July
August.
September
October...
November
December.

8,472
1,399
10, 392
655
824
548
523
2.201
863
1,307
747
712
28,643
45,136
35, 111
34, 322
45,418
41, 074
25,181
18, 834
18,150
6, 656
19, 702
19,862
10, 274

281
505
817
1,391
593
268
327
2,398
4,580
4,125
6,689
39, 675

61, 648
January. _
February.
March
April.
May.
June
July...
August
September
October...
November
December.
Total

5,038 !
3,603 I
7,337 j
8,870 !

11,393! i
4,426
10,204
4.862
4,128 ;
50,741
10.456 i
7,216 i
128,273

Net imports or
exports
()

Year and month

Imports

Exports

Net imports or
exports
()

1926
January
February
March
April
May
June
July
August
September...
October
November...
December...
Total..

19, 351
25,416
43,413
13,116
2,935
18,890
19,820
11, 979
15, 987
8,857
16, 738
17,004
213, 504

3,087
3,851
4,225
17,884
9,343
3,346
5,069
29, 743
23,081
1,156
7,727
7,196
115,708 j

1927
25, 708 January
27,007 February
32, 525 March
10, 665 April
5,587 May
11,376 June
42,343 July
18,136 August
23,066 September..
3,275 October
14, 877 November..
23, 730 December...
Total..
238, 295

59,355
22, 309
16, 382
14, 503
34,212
14,611
10, 738
7,877
12, 979
2,056
2,082
10,431
207,535

14,890 | 44,465
2,414 I 19,895
5,625
10, 757
2,592
11,911
2,510
31, 702
1,840
12, 771
1, 803
8,935
1,524
6,353
24,444 j -11,465
10,698 i - 8 , 642
55, 266 I -53,184
77,849 -67,418
201,455 | 6,080

1928
24, 348 January
6,984 February
5, 559 March
8,533 April
45, 332 May
18,885 June
27,407 July
,
30, 655 August
26, 941 September...
28, 488 October
39, 010 November. _
31, 930 December...
294,073
Total..

38, 320
14, 686
2,683
5,319
1,968
20,001
10,331
2,445
4,273
14,331
29, 591
24,950
168,897

30,909
41, 591
86, 562
80, 278
57,109
42,803
60, 513
84,230
63,637
39, 531
50, 691
29, 504
667,357

44,855
34, 606
33, 505
44, 027
40,481
24, 913
18, 507
15, 752
2,076
15, 577
13,173
-29,401
258, 073

1929
January
February
March
April
May
June
July
August
September...
October
November...
December
Total..

1930
73,526
January
50, 600 -46, 997 February
25,105 -17, 768 March
_.
21, 604 -12.734 April
-1,997 May
13, 390
6,713
- 2 , 287 June
4,417
5,787 July
2,136
2,726 August
6,784
- 2 , 656 September...
28, 039
22, 702 October
24, 360 -13, 904 November - _.
5,968
1,248 December...
Total..
262,640 -134,367

Back figures—See Annual Report for 1927 (Table 20).



16,264
21, 565
39,188
- 4 , 768
-6,408
15, 544
14, 751
-17, 764
-7,094
7,701
9,011
9,808
97,796

52,086
25,806
97, 536

-13,766
-11,120
-94,853
-91,150
-81, 721
-79,931
74,190 -63,859
1,698
747
463
3,810
13, 339
992
22, 916
6,676
1,636
23, 314
560,759 I -391,862

48,577
1,378
26,913
1,425
26,470
1,635
24, 687
1,594
24,098
467
30,762 I
550
35,525
807
19, 271
881
18, 781
1,205
21,321
3,805
7,123
30,289
8,121
72,547
291,649 116, 583

47,199
25,488
24,835
23,093
23, 630
30,212
34, 718
18,390
17,576
17,516
-23,166
-64,426
175,066

12,908
60,198
55, 768
65, 835
23, 552
13, 6b3
21, 889
19, 714
13, 680
35, 635
40,159
32, 778
396. 054

3,960
59, 991
55,478
65, 725
23, 470
13, 912
- 1 9 , 640
-19,618
2,547
26,369
35,151
32, 742

207
290
110
82
26
41, 529
39, 332
11,133
9,266
5,008
115,967

280,087

70

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
MONEY IN CIRCULATION

No. 31.—UNITED STATES MONEY IN CIKCULATION, 1 BY MONTHS, 1914-1930
[In millions of dollars]
End of month figures
End of month

1914

1915

1916

3,502
3,503
3,508
3,530
3,533
3,459
3,394
3,541
3,732
3,744
3,410
3,319

3,253
3,242
3,264
3,284
3,317
3,320
3,323
3,402
3,455
3,519
3,544
3,589

1922

1923

4,441
4,491
4,497
4,468
4,455
4,463
4,424
4,480
4,608
4,646
4,704
4,817

4,614
4,703
4,747
4,759
4,797
4,823
4,787
4,876
4,945
4,929
5,018
5,044

January...
February..
March
April
May
June
July
August
September
October...
November.
December.
End of month
January...
February..
March
April
May
_.
June
July
August
September.
October-..
November.
December.

1918

1919

1920

3,592 3,989
3,603 4,120
3,613 4,173
3,621 4,194
3,585 4,256
3,649 2 4, 066
3,973
3,658
3,737 3,980
4,051
3,822
3,876 4,107
4,252
3,877
3,966 4,373

4,136
4,315
4,396
4,434
4,416
4,482
4,564
4,776
5, 027
5,145
5,195
5,238

4,919
4,922
4,948
4,943
4,918
4,877
4,870
4,948
5,037
5,127
5,269
5,378

5,177
5,360
5,391
5,409
5,452
5,468
5,454
5,548
5,616
5,698
5,643
5,612

1924

1925

1926

1927 1928

1929

4,777
4,887
4,899
4,853
4,905
4,849
4,756
4,859
4,863
4,942
5,052
5,047

4,802
' 4, 848
r 4,811
' 4, 782
' 4, 837
r 4,811
' 4, 792
' 4,866
4,916
4,969
5,044
5,104

4,841
4,904
4,860
4,907
4,923
4,885
4,909
4,930
4,978
5,021
5,037
5,095

4,846
4,885
4,862
4,891
4,893
4,851
4,846
4,854
4,948
4,946
4,952
5,003

4,657
4,698
4,748
4,676
4,738
4,746
4,717
4,840
4,819
4,838
4,929
4,865

1917

Averages of end of month figures
Month

4,677
4,690
4,749
4,748
4,744
4,797
4,701
4,803
4,846
4,806
4,990
4,973

1921
5,303
5,273
5,124
5,080
5,015
4,911
4,797
4,740
4,744
4,695
4,651
4,690
1930
' 4, 560
4, 577
4,549
4,476
4,551
4,522
4,426
4,533
4, 5,01
4,493
4,660
4,890
r

Averages of daily figures

1914

1915

1916

1917

1918

1919

1920

3,497
3,502
3,506
3,519
3,531
3,496
3,426
3,467
3,637
3,738
3,577
3,365

3,286
3,247
3,253
3,274
3,300
3,318
3,321
3,363
3,429
3,487
3,532
3,567

3,591
3,598
3,608
3,617
3,603
3,617
3,653
3,697
3,779
3,849
3,877
3,922

3,978
4,055
4,147
4,184
4,225
2 4,161
4,020
3 4,001
3 4,061
3 4,152
» 4,203
» 4,342

4,306
4,280
4,373
4,423
4,401
4,448
4,520
4,666
4,911
5,134
5,183
5,243

5,050
4,932
4,942
4,970
4,941
4,891
4,896
4,913
4,989
5,106
5,208
5,342

5,231
5,285
5,398
5,372
5,414
5,448
5,478
5,509
5,600
5,673
5,662
5,658

1922

1923

1924

1925

1926

1927

1928

1929

1930

4,527
4,451
4,483
4,482
4,450
4,429
4,443
4,448
4,552
4,643
4,671
4,827

4,679
4,672
4,713
4,731
4,764
4,779
4,812
4,833
4,901
4,941
4,953
5,071

4,847
4,832
4,870
4,886
4,866
4,830
4,810
4,800
4,853
4,891
4,970
5,088

4,863
' 4,805
« 4,814
•
' 4,803
r
4, 791
r 4, 790
r 4, 794
r 4, 817
4,908
4,945
4,960
5,119

4,891
4,854
4,864
4,882
4,871
4,881
4,916
4,912
4,969
5,001
5,005
5,131

4,903
4,843
4,856
4,879
4,860
4,831
4,851
4,849
4,917
4,934
4,936
5,048

4,785
4,709
4,710
4,730
4,722
4,736
4,746
4,743
4,804
4,836
4,860
5,008

4,748
4,686
4,709
4,679
4,684
4,687
4,764
4,777
4,811
4,810
4,845
4,943

4,652
r 4, 554
r 4, 532
4,518
4,497
4,489
4,483
4,476
4,493
4,501
4,528
4,823

January.-.
February-.
March
April
May
June
July
August
September.
October..November.
December.

1921

5,401
5,263
5,204
5,078
5,042
4,936
4,857
4,771
4,752
4,721
4,673
4,718

Averages of daily figures

Month
January-..
February..
March
April
May
June
July..
August
September.
October
November.
December.

1 Money outside Treasury and Federal reserve banks (prior to November, 1914, money outside Treasury).
2
Figures prior to June 21, 1917 (when legislation became effective changing reserve requirements of
member banks), while comparable with one another, are not strictly comparable with those for succeeding dates; the transfer to the Federal reserve banks of that part of legal reserves of member banks formerly
held in own vaults reduced the volume of money outside Treasury and Federal reserve banks (see note
1). The increasing membership of State banks in the Federal reserve system after June, 1917, had a similar
effect upon the figures.
r
3 Averages of daily
figures.
Revised.




No. 32.—KINDS OF MONEY IN CIRCULATION, 1928-1930
[In thousands of dollars]
00
CO
4
Cn

r

End of month

1928—January
February._.
March
April
May
June
July.
August
September..
October
November..
December..
1929—January
February. _.
March
April
May
June.
July
August
September..
October
NovemberDecember..
1930—January
February...
March
April
May
June
July.
August
September..
October
November..
December..

Total

389, 364
4,677,055
4, 690, 430 385,856
383,116
4, 748,934
381,203"
4, 748,458
379,684
4,744,074
p
4, 796, 626 ' 377,028
374,980
4,700, 535
4,802,820
373, 558
4,846,198
372,909
4,806, 230
373,202
4,990,114
374,306
4,973,168
395,310
380,952
4, 656,617
377,512
4,698,362
374, 255
4, 747,683
371,623
4,675,647
369,997
4,737,636
4, 746, 297 368,488
366,199
4, 716,863
364, 603
4,839,859
363,701
4,819,275
363,051
4,838,185
363,935
4,929,421
383,763
4,864,824
- 4. 560,028 •369,457
•
r
4, 576,508 ' 364, 789
362,272
4,549,189
360,016
4,476,067
358, 575
4,551,468
357,236
4, 521,988
356,079
4,426,494
353,358
4,533,197
351, 765
4,501,478
350, 226
4,492,604
350,931
4, 660,315
368,379
4,890,123

Back figures.—See Annual Report for 1927 (Table 22).




Gold
coin

Gold certificates

Standard
silver
dollars

1,015,888
46,764
1,003,880
46,412
1,024,875
46,188
1, 020, 267
46,154
1,013,139
46,228
1, 019,149 r 46, 222
977,077
46,082
981, 785
46,241
977, 673
46,411
959,652
46,299
1, 030, 546
46,342
990,996
46,475
923,193
44,456
935,448
44,075
937, 247
43,921
905,513
43,727
944,058
43, 651
934, 994
43,684
887,897
43,401
887,102
43,055
849,551
42,960
845,908
42, 573
888, 650
42, 244
879, 558
42,184
799,077
39,967
841,235
39, 451
873, 366
39,172
885,820
38, 798
954,465
38,610
994,841
38,629
1,001,923
38,108
1,050,595
38, 234
1,026,036
37,512
1, 019,584
37,312
1,075, 770
37, 087
1,117, 630
36, 777

Silver
certificates

372,485
368,938
372,709
377, 946
379,604
384, 577
384,159
391,047
397, 589
394,328
404,860
410,334
381, 672
385,389
390, 583
386. 241
392,411
387,073
403,964
411, 293
417, 556
414,952
418,085
416,880
380,692
384,339
385, 583
382,423
391, 773
386,915
381, 285
390, 203
391, 311
391,366
400,104
403,906

Treasury Subsidiary
notes of
1890
silver

1,312
1,311
1,308
1,306
1,305
1,304
1,301
1, 300
1,298
1,296
1,295
1,294
1,292
1,291
1,290
1.288
1,286
1,283
1,282
1,280
1,277
1,276
1,275
1,273
1,270
1,268
1,265
1,263
1,261
1,260
1,259
1,254
1,252
1, 250
1,248
1,248
r

276,105
275,101
274, 544
276,089
277,404
r 278,175
279,072
280,661
283,296
285,350
288,002
291,314
280, 751
280, 736
280, 655
281,229
282,936
284, 226
284,363
286, 270
289, 344
291, 200
292.241
293,951
281,343
280,395
280,364
281,181
281,168
281,231
279,736
280,162
280,868
281,135
281, 221
281,133
Revised.

JV^inor
coin

109, 727
109,640
109,922
110, 306
110,921
••111,061
111,400
111, 937
112,431
113,427
114,641
115, 613
114,007
113.692
113, 536
114,085
114,454
115, 210
115, 534
115,985
116,816
117,556
118,167
119,402
116,920
116,773
116,544
117,108
117,193
117,436
117, 236
117,187
117, 729
117, 859
118, 227
118, 740

United
States
notes

Federal
reserve
notes

283,119
286,187
290,046
293,119
296,189
298,438
293, 235
300,563
303,110
300, 659
306,015
294,199
282,172
283.603
283.100
276.227
288,216
262,188
242,338
248,670
264, 930
266, 504
275,136
264,881
257,189
268,964
268,526
277, 111
290,260
288,389
287,858
297, 603
297,307
300,032
304,407
295,515

1,560,763
1,570,063
1,588,391
1,585, 904
1, 586,975
1, 626, 433
1, 592,137
1,662, 249
1, 698,908
1,689,171
1, 770,184
1,808,053
1.631,432
1,646,523
1,673.480
1,648,392
1, 654,757
1, 692, 721
1, 748,442
1,842,547
1,839,143
1, 869,173
1,919,901
1,862,420
1, 678,421
1,628,064
1,571,519
1,483, 711
1,466,561
1, 402,066
1,320, 263
1, 353, 200
1,359, 358
1,349, 940
1, 440,003
1, 640, 537

Federal
reserve
bank
notes
4,237
4,178
4,138
4,096
4,072
4,029
3,985
3,948
3,916
3,880
3,848
3,820
3,775
3,747
3,709
3,680
3,650
3.616
3,587
3,539
3,500
3,466
3,432
3,413
3,356
3,322
3,275
3,248
3,221
3,206
3,155
3,126
3,104
3,082
3,064
3,041

Nationalbank
notes

617,290
638,866
653, 696
652,068
648, 552
650,212
637,109
649, 532
648,656
638, 965
650,077
615,761
612.915
626,344
645,908
643. 639
642,221
652,812
619 855
635, 515
630, 497
622, 527
606,356
597,101
632,336
647,908
647,301
645, 389
648, 382
650,779
639,593
648,274
635,237
640,818
648, 252
623,218

DISCOUNT RATES AND MONEY RATES




73

DISCOUNT RATES AND MONEY RATES
IVo. 33.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES AND
MATURITIES OF DISCOUNTED BILLS—CHANGES PROM JANUARY 1, 1922, TO
DECEMBER 31,
1930
[Per cent]
Federal Reserve Bank
Date effective

San
Bos- New Phila- Cleve- Rich- At- Chi- St. Min- Kan- Dal- Frannesas
delton York phia land mond lanta cago Louis apolis City las cisco

In effect Jan. 1,1922
1922—Jan. 9
Jan.11
Jan. 23—
Feb. 14....
Mar. 15..
Mar. 25
Apr. 6
Apr. 14
June 22
June 23..
July 8
July 12
Aug. 12
Aug. 15

*

5

5

5

5

5

5

. . .

5
5

5

434

4V

. ..

4

4i4

41/

4

4
41/

1923-Feb. 23
Mar. 6

4H

1924—May 1
June 2
June 10
_.
June 12
June 14
June 18 .
June 19
June 26..
July 1
July 16
Aug. 8
Aug. 15.. .
Aug. 25
Oct. 15

4

1825—Feb. 27
Nov. 10
Nov. 17
Nov. 20
Nov. 23..
1926—Jan. 8
Apr. 23..
Aug. 13

4H
4

4

3H

3H

4

4
2

4

4

3H

4
4

3

3H

4

4

3H
4
4

.

4
4

_

4

1927—July 29
Aug. 4 ,_
3K
Aug. 5
3H
3M
Aug. 6.
Aug. 12
Aug. 13. .
j
Aug. 16
3H
Sept. 7.
3£
V
1
Sept. 8
3H
Sept. 10
Sept. 1 3 . . .
_
1
5 per cent on 6-9 month agricultural and livestock paper from Apr. 7,1923, to June 11,1924, inclusive.
J
5 per cent on 6-9 month agricultural and livestock paper from Apr. 19,1923, to June 25,1924, inclusive;
4M Per cent on 91-day to 6-month agricultural and livestock paper from June 19 to June 25,1924.
NOTE.—Discount rates became applicable to 6-9 month agricultural and livestock paper, which was
made eligible by the Mar. 4, 1923, amendment to the Federal reserve act, on the following dates in 1923:
Boston, Apr. 7; New York, Aug. 6; Philadelphia, Apr. 19; Cleveland, Apr. 9; Richmond, Apr. 7; Atlanta,
Mar. 22; Chicago, Aug. 16; St. Louis, Apr. 5; Minneapolis, Apr. 11; Kansas City, Apr. 14; Dallas, Apr. 12;
San Francisco, Mar. 21.
Back figures.—YOT years previous to 1922, when din erent rates were generally in effect for different
classes of bills, see Annual Reports, Federal Reserve Bulletin, and pamphlet issued by the board in 1922:
44
Discount Rates of the Federal Reserve Banks, 1914-1921."




m

75

76

ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD

No. 33.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES ANI>
MATURITIES OF DISCOUNTED BILLS—CHANGES FROM JANUARY 1, 1922, TO
DECEMBER 31, 1930—Continued

[Per cent]
Federal Reserve Bank
Date effective

1928—Jan. 25
Jan. 27
Feb. 3
Feb. 4
Feb. 7
Feb. 8
Feb. 10
Feb. 11..
Feb. 16
Feb. 21
Mar. 1
Apr.
Apr.
Apr.
Apr.

20
23
24
25

May 7
May 17 . _ .
May 18
May 25 . _ .
May 26
June 2 _
June 7
July 11
July 13
July 14
July 19
July 26
Aug. 1

Min- Kan- Da]
Bos- New Phila- Cleve- Rich- At- Chi- St.
ne- sas
delton York phia land mond lanta cago Louis apolis City las
4
4
4

4
4
4

4
4
4

1

4
4

_

4

4M

4V£

j

i

L_
i
'<

4V£
4y^

4y^

4U

j
j
1

_ 1
!

|

5
5

4H

4i^>

5
5

5

5

5 i__ . .
5
j

1929—Mar. 2
May 6
May 14
May 20
Aug. 9
Nov. 1_
Nov. 15
Nov. 21
Nov. 23.._
Dec. 6
Dec. 10
Dec. 20
1930—Jan. 16
Feb. 7
Feb. 8
Feb. 11
Feb. 13
Feb. 15
Mar. 14
Mar. 15
Mar. 20
Mar. 21
Apr. 8
Apr. 11
Apr. 12
Apr. 15
May 2
May 8__
June 7
June 21
June 20
July 3 ._ . . .
July 12
July 18
Aug. 7
Aug. 8
Aug. 15
Sept. 9
Sept. 12
Dec. 24
Dec. 29__

San
Francisco

5
5
5

5

6
5

.::::

4>2

4M

4V4

41^

i

i

4

4H
4

4V9

4:14

4H

4

4
4
4

1

|

4
4

4

i

4

4

i

.......

3
i

33/o

_

"'¥/

1

0 1 /

Ql/I

3

3%

i zy2
i

In effect Dec. 31, 1930..




|

1

I
.1

2

31/'
i

01/
0 1 /

1

3
3

2

3

3H

3H

3K

3K

3^

DISCOUNT RATES AND MONEY BATES
No.

77

34.—FEDERAL RESERVE BANK BUYING RATES ON ACCEPTANCES ! —
CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1930
[Buying rates at the Federal Reserve Bank of New York. Per centl
Date effective

Itol5
days

16 to 30
days

31 to 45
days

46 to 60
days

61 to 90 91 to 12C '21 to 180
days
days
days

In effect Jan. 1, 1922.
1922-Feb. 6 . . .
Feb. 16..
Mar. 6...
Mar. 13.
Mar. 21..
Mar. 27..
Apr. 10..
Apr. 14..
May 5 . . .
May 18..
June 2 . . .
June 19..
June 26..
July 5 . . .
July 15..
July 25..
Sept. 21..
Sept. 25.
Sept. 27..
Oct. 2.__
Oct. 6._Oct. 13..
Oct. 18-.
Oct. 19..
Oct. 24. _
Oct. 27..

4

"VA
VA

ft

"VA

VA

"VA

"m

1923—Apr. 17..
May 23..
July 7 . . .
924—Apr. 24..
May 1...
May 16May 22..
June 2 . . .
June 17..
June 26..
Aug. 8.__
Nov. 17..
Nov. 28..
Dec. 3 . . .
Dec. 5._.
Dec. 8 . . .
Dec. 22._

A
VA
2lA
2H

2H
2%

I"

"2%
2%
2%

2%
"2%

2%

1925—Feb. 6 . . .
Feb. 27..
June 12..
Aug. 31_.
Sept. 22..

3

3
3H

1926—Jan. 8....
Apr. 27..
May 20..
May 21_.
Aug. 16..
Aug. 23..
Sept. 1...

A
VA
35!

1927—July 29..
Aug. 5...
Aug. 22..
1928—Jan. 27..
Feb. 3 . . .
Mar. 30..
Apr. 13..
May 18..
4
July 13..
4M
July 2 6 1 Rates on prime bankers' acceptances. Higher rates may be charged for other classes of bills.
Back figures.—See Annual Report for 1928 (Table 35).




¥

4M

78
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
34.—FEDERAL RESERVE BANK BUYING
RATES ON ACCEPTANCES—
CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1930—Continued

[Buying rates at the Federal Reserve Bank of New York. Per cent]
Date effective

Itol5
days

1929—Jan. 4_...
Jan. 21._.
Feb. 15..
Mar. 21..
Mar. 25..
July 12..
Aug. 9...
Oct. 25..
Nov. 1...
Nov. 15
Nov. 22..
1930—Jan. 31...
Feb. 11..
Feb. 24..
Mar. 5—
Mar. 6—
Mar. 11..
Mar. 14..
Mar. 17..
Mar. 19..
Mar. 20..
May 1—
May 2__.
May 8...
May 19..
June 3__.
June5...
June 16_.
June 20_.
June 30_.
July 2 1 . .
Dec. 24..
In effect Dec. 31,1930Rate for 76 to 90 days 2 per cent.




16 to 30
days

5

31 to 45
days

46 to 60
days

61 to 90 91 to 120 121 to 180
days
days
days

J*

r
5

5;

5
4^

5

4

3^

3%

fi
3H

f
P.,
VA

2V4.

2M
2H

79

DISCOUNT RATES AND MONEY RATES

No. 35.—AVERAGE RATES EARNED BY FEDERAL RESERVE BANKS ON BILLS AND
SECURITIES, 1917-1930
[Per cent]
Month

1917

1918

1919

1920

1921

1922

1923

1924

1925

1926

1927

1928

1929

1930

Total bills and
securities:
January
February. _
March.. .
April

2.90
3.03
3.14
2.83

3.75
3.81
3.86
4.07

4.04
4.03
4.02
4.01

4.46
4.88
5.12
5.23

5.88
5.92
5.90
5.85

4.62
4.47
4.34
4.25

4.03
4.13
4.26
4.32

4.39
4.36
4.30
4.34

3.27
3.32
3.41
3.49

3.73
3.80
3.80
3.81

3.80
8.76
3.75
3.75

3.36
3.52
3.63
3.74

4.73
4.76
4.80
4.88

4.22
4.05
3.78
3.64

2.93
3.08
3.34
3.37

4.29
4.20
4.31
4.27

3.99
4.01
3.98
3.93

5.36
5.51
5.72
5.81

5.79
5.67
5.60
5.42

4.08
3.98
3.90
3.85

4.35
4.36
4.42
4.42

4.26
4.03
3.80
3.67

3.50
3.50
3.52
3.55

3.72
3.66
3.65
3.67

3.78
3.72
3.73
3.58

3.96
4.24
4.39
4.63

4.89
4,89
4.94
5.02

3.40
3.23
3.00
2.86

3.41
3.37
3.37
3.53

4.21
4.13
4.19
4.14

3.91
3.95
4.16
4.29

5.81
5.94
5.98
5.98

5.35
5.25
4.99
4.74

3.84
3.88
4.00
4.06

4.41
4.44
4.40
4.38

3.45
3.30
3.21
3.17

3.56
3.59
3.61
3.68

3.77
3.83
3.84
3.83

3.45
3.39
3.33
3.34

4.67
4.69
4.68
4.70

5.10
5.06
4.84
4.48

2.72
2.69
2.64
2.61

Year

3.29

4.12

4.04

5.50

5.61

4.11

4.33

3.83

3.51

3.76

3.60

4.24

4.86

3.2&

Bills discounted:
January
February..
March
April
_

4.01
4.02
4.14
3.92

3.94
4.02
3.94
4.14

4.21
4.18
4.16
4.16

4.71
5.20
5.47
5.58

6.30
6.37
6.36
6.32

4.99
4.90
4.83
4.75

4.26
4.24
4.45
4.49

4.50
4.50
4.50
4.50

3.55
3.42
3.60
3.66

3.91
3.99
4.00
3.98

4.00
4.00
4.00
4.00

3.50
3.77
3.95
4.01

4.99
4.92
4.92
4.98

4.80
4.59
4.32
4.11

3.82
3.49
3.82
3.77

4.38
4.31
4.40
4.35

4.15
4.20
4.15
4.13

5.66
5.89
6.13
6.19

6.29
6.20
6.09
5.91

4.68
4.61
4.50
4.47

4.50
4.50
4.50
4.50

4.45
4.35
4.11
3.99

3.69
3.69
3.68
3.68

3.87
3.88
3.85
3.91

4.00
4.00
4.00
3.83

4.20
4.45
4.60
4.87

4.95
4.98
5.00
5.16

3.81
3.75
3.65
3.46

3.79
3.47
3.42
3.65

4.27
4.22
4.27
4.29

4.17
4.15
4.40
4.55

6.22
6.35
6.41
6.42

5.85
5.69
5.39
5.11

4.42
4.36
4.29
4.29

4.50
4.50
4.50
4.50

3.85
3.75
3.69
3.59

3.66
3.66
3.71
3.84

3.99
4.00
4.00
4.00

3.62
3.52
3.51
3.51

4.90
4.92
4.92
4.93

5.27
5.20
5.04
4.86

3.42
3.38
3.28
3.23

Year

3.61

4.24

4.23

5.88

6.07

4.63

4.46

4.25

3.67

3.95

3.83

4.56

5.03

3.93

Bills bought:
January
February..
March
April

2.80
3.02
3.19
3.10

3.64
3.79
3.92
4.18

4.29
4.25
4.26
4.23

4.79
5.06
5.47
5.70

6.14
5.99
6.01
5.97

4.44
4.25
4.06
3.83

4.01
4.09
4.10
4.08

4.20
4.18
4.17
4.17

2.70
2.88
3.06
3.13

3.46
3.55
3.61
3.63

3.73
3.70
3.68
3.67

3.21
3.28
3.38
3.52

4.62
4.80
4.98
5.30

4.19
4.03
3.72
3.25

3.15
3.16
3.23
3.19

4.36
4.25
4.24
4.38

4.25
4.19
4.27
4.22

5.77
5.98
6.07
6.07

5.98
5.97
5.96
5.36

3.50
3.29
3.18
3.11

4.11
4.14
4.18
4.19

4.05
3.66
2.80
2.49

3.16
3.17
3.19
3.24

3.52
3.37
3.33
3.32

3.65 2 72
3 66 1 a £4
3.67 4.01
3.51 4.34

5.50
5.48
5.44
5.13

2.96
2.59
2.10
1.93

3.35
3.40
3.53
3.43

4.19
4.25
4.36
4.33

4.27
4.22
4.33
4.54

6.06
6.07
6.03
6.05

5.33
5.04
4.91
4.50

3.11
3.24
3.59
3.84

4.19
4.19
4.18
4.20

2.22
2.20
2.23
2.46

3.32
3.37
3.40
3.43

3.50
3.67
3.75
3.76

3.31
3.19
3.19
3.20

4.50
4.56
4.56
4.56

5.11
5.21
5.22
4.(10

1.92
1.94
1.91
1.87

Year

3.26

4.14

4.30

5.66

5.70

3.54

4.14

3.31

3.17

3.55

3.49

3.97

5.00

2.85

United States
securities:
January
February. _
March
April

2.64
2.67
2.66
2.36

3.27
3.25
3.59
3.56

2.26
2.31
2.41
2.43

2.18
2.17
2.10
2.10

2.13
2.11
2.24
2.15

3.16
3.58
3.72
3.77

3.74
3.96
3.99
4.11

4.26
4.17
4.04
4.14

3.51
3.59
3.50
3.58

3.69
3.71
3.60
3.65

3.55
3.53
3.49
3.48

3.35
3.44
3.44
3.46

4.01
3.91
3.99
3.91

3.62
3.64
3.52
3.43

2.41
2 39
2.67
2.71

3.06
3 00
2.76
2.87

2.42
2.33
2.24
2.21

2.22
2.24
2.15
2.22

2.49
2.40
2.31
2.33

3.70
3.67
3. 63
3.60

4.17
4.02
4.17
4.15

4.05
3.79
3.68
3.57

3.57
3.53
3.54
3.54

3.61
3.56
3.55
3.52

3.54
3.46
3.43
3.37

3.53
3.68
3.67
3.69

3.93
4.06
4.05
4.00

3.34
3.15
2.97
2.88

2.75
3.06
2.86
2.98

2.73
2.44
2.49
2.40

2.17
2.18
2.22
2.19

2.27
2.20
2.17
2.43

2.49
2.38
2.68
2.92

3.65
3.71
3.78
3.79

4.07
4.21
4.18
4.03

3.46
3.44
3.46
3.39

3.55
3.62
3.62
3.63

3.53
3.62
3.61
3.55

3.37
3.38
3.27
3.28

3.83
3.94
4.05
4.05

4.09
3.99
3.93
3.69

2.75
2.69
2.63
2.57

2.68

2.99

2.26

2.21

2.37

3.67

4.01

3.67

3.56

3.60

3.41

3.64

3.93

3.06

May
June . .
July
August
September.
October
November.
December..

May
June
July
August
September.
October
November.
December.-

May
June
July ....
August
September.
October
November _
December..

May
June
July . . .
August
September .
October
November December..
Year

Back figures.—See Annual Report for 1929 (Table 34).




80
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
36.—OPEN MARKET RATES IN NEW YORK CITY, BY MONTHS, 1926-1930
[Per cent]
Prevailing rate o n -

Average rate on i—
Call loans 3

Month

Prime
bankers' j Time
accept- | loans,
ances, 90 j 90 days
days i

1926—January
February.
March.
April
May.
JuneJuly.
August
September.
October
November
December
1927—January
February.
March.
April
May
JuneJuly
August
September.
October.
November.
December

3.67
3.63
3.63
3.42
3.20
3.32
3.57
3.88
3.88
3.79
3.83

3,49
3.18
3.14
.08
3.17
2.93
3.11
3.27
3.42
3.58
3.35
3.07

4.01
4.01
3.98
3.94
3.
3.90
3.95
3.96
3.95
3.91
3.84

4.27
4.06
4.13
4,21
4.27
4.26 i
3.95
3.66 !
3.84
3.88
3. 60 |
4.43

1928—January
February.
March
April
May.
June
July
August
September.
October
November.
December

3.31
3.33
3.27
6
3. 62
«3.90
6 3.92
4.12
4.36
4.57
4.70
4.
4.26

1929—January
February
March
April
May.
June.
July.
August
September.
October
November.
December

8.91
7.70
9.23
8.23
8.50
6.43
5.44
4.83

4
4.39
4.60
4.80
5.09
4.80
4.55
4.70
4.58
4.37
3.47
3.03

4.64
4.32
3.69
4.00
3.12
2.62
2.20 I
2.21 |
2.19 !
2.00
2.00
2.23

.39
3.36
2.95
3.00
2.41
1.89
1.83
1.53
1.77
1.74
1.40
1.

1930—January
February.
March.
April
May___
June
July.__
August
September
October-..
November.
December
1

4.31
4.28
3.56
3.79
.05
2.60
2.18
2.22
2.17
2.00
2.00
2.27

These rates are monthly averages of daily quotations for the month.
* Stock exchange 90-day time loans.
Stock exchange call loans; new and renewal rates.
Second, third, and fourth 4% per cent Liberty bonds.
• Three issues. Since April, 1928—3%, ZH, and 4 per cent: yield calculated on basis of last redemption
dates—1947, 1956 and 1954. Prior to April, 1928—3%, 4 and 4J4 per cent maturing 1956, 1954, and 1952.
6
Based, at least in part, on certificates of 6-9 months maturity.

Back figures.—See Annual Reports for 1928 (Table 39), and 1927 (Table 28).
1
4



81

DISCOUNT RATES AND MONEY RATES
No. 37.—OPEN-MARKET RATES IN N E W YORK CITY, BY WEEKS
[Per cent]
Average rate on—

Prevailing rate o n -

Prime
Prime
commer- bankers'
cial
acceptpaper,
ances,
4to6
months 90 days

Week ending (Saturday)—

Jan.
Jan.
Jan.
Jan.

4___
11..
18...
25_.

Feb.
Feb.
Feb.
Feb.

1930

1...
8...
1522..

Apr.
Apr.
Apr.
Apr.

3941

July
July
July
July

394!
396-394

4
394-4

5,
12
19
28—-

May 3.
y
M a y 10
1
M a y 17
M a y 24
M a y 31
June 7
June 14
June 21
June 28

_

_...;
I
I
|
|

0

"

5._ 12..
19..
26.-

394-4
394-4
394-4
394-4
394-4
' 314-4
"
394-4
394
3^-394!
31/2-334!
3^-334
3H3

zMzn

1
2

2.97
3.18
3.40
3.55

3.49
3.48
3.51
3.53

^ 9
494-53
4%~4 /4|
4941

4.12! 4.40
4. 22 I 4.40
4.19 I
4.40 I

4.00
4.40

3.98
3.83
3.75
3.75

3.58
3.58
3.48
3.35

3.54
3.49
3.49
3.50

41/2-494
4J4-494j
4 -4^!
394-4 i

4.28 I

4.40
4.00
3.90
3.00
3.80

! 3. 75
i 3.58
, 3.30
1 2.78
j 2.68

3.06
3.01
<3.06
2.94 I
2.83 I

3.49
3.44
3.38
3.37
3.40

4.00 :
4. 00 I
4.00 i
4. 00 ;

2.85
2.88
2.94
3.00

2.90 I
2.97 j
3.06 '
3.06

3.45
3.46
3.48
3.46

3.90 I

2.83
2.55
2.50
2.40
2.38

2.97 I

3. 20 i
3.00
3.00
3.00

2.68 !
2.45
2.20
2.04

3.44
3.42
3.41
3.41
3.40

3.00
2.90
2.50
2.20

2.25
2.13
2.10
1.91

1.97
1.78
U.98
1.83

3.39
3.37
3.37
3.37

1.88
1.88
1.88
1.88

1.87
1.85
1.90
1.84

3.36
3.36
3.38
3.37

3.84
3.56
2.97
3.78

I
I
i
I

I 4. 00 !
3.67 ;
3.83
3.56 ;

2%-Z j
3 !

3.80
3.02
3.00
3.00
3.00

ZH.
3 -3H|
294-3 I
2^-294

3.00 I
2.81 ;
2.56 !

294,
2^-2941
294-3

^1
9j

394-4
39

2.54 !
2.48 I
2.09

2H\
^i29i!
2*6

2*61
156-2 I

i
!
;
i
;
j

2.02 I

2.00 j

I
17/

23,4-3
294-3

3.95
3.88
4.00
4.00

256i

1%

3
3
294-3

6.00
4.60
4.50
4.50

4

613.
20.
27.

Oct. 4___
Oct. 11..
Oct. 18Oct. 25._
Nov,
Nov,
Nov,
Nov,
Nov.
Dec. 6—
Dec. 13..
Dec. 20_.
Dec. 27..

New

U. S.
Treasury
notes Treasury
and cer- bondss
tificates
3 to
months

5.86 !
4.25 I
4.24 !j
4.06

256 i

3 - ^
3 -3J4
3 -

Aug. 2 . .
Aug. 9-.
Aug. 16..
Aug. 23..
Aug. 30..
Sept.
Sept.
Sept.
Sept.

4 j
334-3^;

41/2-4941

Mar. 1__
Mar. 8_Mar. 15.
Mar. 22.
Mar. 29.

Time
loans,
90
days l

Prime
bankers'
acceptances,
Renewal 90 days

494-5
49.,
426-494
494;

5
5
494-5
494-5

Call loans 2

Average yield
on—

156
156
156
VA
1%
1%

2^4-3

2.38
2.40
2.20
2.00

2^-294
2H-2H
2H
2H-2H
21^-294

2.00
2.23
2.49
2.20
2.00

2.00
2.20
2.40
2.30
2.00

1.88
1.88
1.88
1.88
1.88

1.64
1.55
1.53
1.50
1.48

3.37
3.37
3.37
3.38

2^-294
2^-294
2^-294
2U-2U
2H-2H
2H-2U
2^-294
2H-2H
2^-294
2 -2\i
2 -2M
2 -2H
2 -2H
2 -2M
2 -2H\

2.35
2.50
2.02
2.00

2.00
2,00
2.00
2.00
2.00

2.00
2.00
2.00
2.00
2.00

2.00
2.09
2.21
2.04

2.00
2.00
2.30
2.00

1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88

1.47
1.53
*2.01
1.99
1.78
1.74
1.75
1.75
1.71
1.56
1.50
1.32
1.22
1.36
1.44
< 1.56
1.51

3.38
3.37
3.36
3.36

1.90
2.00
2.00
2.00

2.25
2.50
2.20
2.00
1.90
2.00
2.00
2.00

21^-294
1%

2H-2W

3.34
3.34
3.34
3.34
3.33
3.33
3.32
3.32
3.32

3.33
3.35
3.34
3.35

Stock exchange 90-day time loans.
Stock exchange call loans; new and renewal rates.
3 Three issues—3H, BH, and 4 per cent; yields calculated on basis of last redemption dates—1947, 1956,
and 1954.
* Change of issues on which yield is computed.
Back figures.—See Annual Reports for 1929 (Table 36), 1928 (Table 40), 1927 (Table 29), 1926 (Table 107)»
and 1925 (Table 106).




82
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
38.—MONEY RATES IN N E W YORK CITY—PREVAILING RATES CHARGED

CUSTOMERS, 1926-1930
[Rates prevailing during 7-day period ending with 15th of month. Per cent]

Month

1926

January
February
March
April
May
June
July
August
September
October
November
December

_

1927

January
February
March.__
April
May.
_
June
___
July
August
September
October
November
..._
December
January
February
March
April
May
June
July
August
September
October
November...
December

_.

-.

1928
_
_

._
1929

January
February
March
April._
May
June
July
August. - .
September
October
November
December

_

July....
August.-.
September
October
November
December

6
6 -6J^
6

6

5H-6

£-6

1930

January
February
March
April
May
June

._

•__•

5?4-6
5 -5H
H

_
—

-..
_

5 -5H
4U-5H
4H5

H
4 -m
4 -m

4
4

-5
-4

4

-

4
334-4
3^-4
3^4

4
4
4
4

-4
-4H
-4H
-

4 -4J4

S-6
5 -6
41/
4^-0/2
41/2-5
4 -5
4
4 -5
4 -5
4 -5
4 -5

6
6
6
6

5H-6
5^-6
5 -6

5 -5H
4^-5
4H~5
4^-5
4 -5
4 -5
4 -5
4 -5

5 -5
5
4H-6
4^-5
4 -5
4 -5
4 -43
4 -5

Back figures.—See Annual Reports for 1928 (Table 41) and 1927 (Table 30).
NOTE.—For corresponding figures relating to cities other than New York, see the Federal Reserve Bulletin; also Annual Reports for 1926, Part II, Table 16. and 1925, Part II, Table 12.




83

DISCOUNT RATES AND MONEY RATES
No. 39.—RATES CHARGED CUSTOMERS BY BANKS IN PRINCIPAL CITIES
[Weighted averages of prevailing rates]

1919

New York City:
January
February
March
_
_
April
May
June
._
_.
July
August
September
October
November
December
Eight other .northern and
eastern cities:
January.._
_
February
_..
March
April
May
_
June
-.
July
August
September
October...
November
December
Twenty-seven southern and
western cities:
January
_.
February
March
April
May
June
__
July
August.
September
October
November
December

1920

1921

1922

1923

1928

1929

5.54
5.36
5.46
5.56
5.43
5.45
5.49
5.49
5.49
5.63
5.56
5.61

5.93
6.00
6.00
6.09
6.00
6.00
6.43
6.36
6.57
6.57
6.71
6.36

6.71
6.78
6.70
6.64
6.68
6.43
6.21
6.25
6.11
5.93
5.96
5.68

5.50
5.48
5.43
5.46
5.06
4.93
5.16
4.66
4.70
4.74
4.82
4.86

4.82
4.91
4.98
5.32
5.27
5.21
5.29
5.18
5.33
5.37
5.39
5.21

5.21 4.16
5.07 4.43
5.06 4.53
4.98 4.48
4.89 4.38
4.64 4.36
4.21 4.46
4.09 4.36
4.20 4.57
4.41 4.62
4.13 4.61
4.29 4.70

4.64
4.68
4.62
4.62
4.66
4.58
4.38
4.62
4.81
4.85
4.79
4.79

4.66
4.56
4.56
4.63
4.63
4.60
4.56
4.41
4.44
4.49
4.35
4.50

4.56
4.44
4.59
4.72
4.97
5.09
5.38
5.56
5.63
5.63
5.56
5.63

5.74
5.73
5.81
5.85
5.88
5.93
5.88
6.05
6.06
6.08
5.86
5.74

5.64
5.35
5.22
4.91
4.74
4.59
4.48
4.41
4.29
4.26
4.17
4.16

5.79
5.67
5.66
5.72
5.59
5.70
5.75
5.75
5.76
5.76
5.77
5.86

5.99
6.15
6.32
6.68
6.79
6.98
7.01
7.01
6.98
7.00
7.00
6.97

6.99
6.95
6.94
6.99
6.94
6.97
6.93
6.59
6.62
6.65
6.32
6.19

6.08
5.89
5.77
5.46
5.43
5.43
5.31
5.27
5.12
5.20
5.38
5.44

5.34
5.38
5.52
5.49
5.54
5.45
5.47
5.64
5.59
5.57
5.51
5.48

5.53
5.38
5.37
5.31
5.26
5.12
5.09
4.80
4.87
4.87
4.80
4.87

4.80
4.79
4.89
4.92
4.95
4.95
4.90
4.98
5.04
5.16
5.20
5.17

5.14
5.11
5.15
5.17
5.07
4.87
4.92
4.91
5.08
5.15
5.07
5.09

| 4.
i 4.
4.
4. 90
4.95
4.93
4.90
4.87
4.77
4.79
4.82
4.76

4.73
4.76
4.81
4.91
5.04
5.36
5.57
5.59
5.80
5.80
5.82
5.91

5.87
5.86
5.91
6.00
6.09
6.02
6.08
6.11
6.24
6.25
6.12
5.94

5.88
5.66
5.47
5.22
5.13
5.06
4.81
4.79
4.74
4.75
4.66
4.68

6.11
6.03
6.02
6.01
6.00
5.91
5.98.
5.94
5.93
5.96
5.95
6.10

6.16
6.26
6. 43
6.47
6.56
6.88
7.00
6.99
7.07
7.04
7.08
7.07

7.10
7.11
7.13
7.09
7.06
7.05
7.04
7.03
6.96
6.85
6.74
6.67

6.56
6.46
6.35
6.22
6.23
6.13
6.04
6.02
5.94
5.89
5.94
5.90

5.90
5.91
5.83
5.94
5.92
5.91
5.96
5.98
5.94
5.95
5.99
5.99

6.02
5.91
5.89
5.89
5.79
5.69
5.63
5.57
5.55
5.47
5.53
5.53

5.57
5.55
5.61
5.61
5.58
5.59
5.59
5.60
5.55
5.53
5.55
5.61

5.56 5.72
5.65 5.71
5.62 5.65
5.65 5.57
5.61 5.59
5.54 5.54
5.54 5.52
5.56 5.53
5.60 5.61
5.66 5.56
5.67 5.56
5.60
5.
I

5.53
5.53
5.54
5.54
5.56
5.67
5.77
5.80
5.82
5.87
5.90
5.91

5.94
5.96
6.04
6.07
6.10
6.16
6.17
6.22
6.27
6.29
6.29
6.20

6.12
6.04
5.98
5.86
5.75
5.60
5.62
5.57
5.54
5.53
5.49
5.42

1930

l

NOTE.-—Figures relate to rates charged by reporting banks to their own customers (see Table 38) as
distinguished from open-market rates (which are given in Tables 36 and 37). All averages are based on
rates reported for 3 types of customers loans—commercial loans, and demand and time loans on securities.
The method of computing the averages takes into account (a) the relative importance of each of these 3
types of loans and (6) the relative importance of each reporting bank, as measured by total loans. In the
two group averages the average rate for each city included is weighted according to the importance of that
city in the group, as measured by the loans of all banks.




84

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
FOREIGN RATES

No.

40.—DISCOUNT RATES AT CENTRAL BANKS IN FOREIGN
COUNTRIES—
CHANGES FROM JANUARY 1, 1926, TO DECEMBER 31, 1930
[Per cent]
Central bank of—

In effect Jan. 1, 19 .6
1926—Jan 12
Mar. 27
June 7
__
July 6
.July 31
Oct. 4
_
Dec 16
1927—Jan. u
_.
Feb 3
Mar 9 . . .
Apr. 14
Apr. 21_
_
_.
Apr. 22
June 10
Oct 4
Oct. 10
Oct. 13
Dec. 29_
„
1928—Jan. 2.
Jan 19
Mar. 5
Apr 1
May 1
June 25
Aug. 24 ._
1929 Jan 7
Jan.12
Feb.7
Mar 14
Mar. 25
Apr 25
Sept. 26
Sept 27
Oct. 31
Nov 1
Nov 2
Nov 16
Nov. 21
Dec. 12____
Dec 13
1930—Jan 1
Jan 14
Jan 16
Jan 30
Feb 5
Feb. 6
Mar 3
Mar. 6
Mar. 7
. . .
Mar 8
Mar. 20
Mar 25
Apr 3
Apr 24
May 1
.May 2
May 19
May 20
June 21
July 10
Oct 7
Oct 9
In effect Dec. 31, 1930

England France
5

^®*'
9

6
i

Italy
7

Japan
7.30

ZH

3H

8

7
!

iy2

6

6.57

6V£
5

5.84
5

I

4K

1
4

1

6

7

5.48
4H

4

I

VA

i

3V4
i

6

2

4

1

4H

6
6Vo
7

VA

• 7H
6

5

7
5

5

_ _ _ __

3

4

6

&A
4

3H
3^

4

3

5

VA

6

3

VA
4

2

5 11

c

3

I

m

5.11

Back figures.—See Annual Reports for 1929 (Table 38) and 1928 (Table 42).




Nether- Sweden Switzerlands
land

CO

Date effective

3

2H

85

DISCOUNT RATES AND MONEY RATES

No. 41.—OPEN-MARKET RATES IN FOREIGN COUNTRIES, BY MONTHS, 1926-1930 l
[Per cent]
! England I France
i (London); (Paris)

Germany! Italy
(Berlin) 1 (Milan)

Japan 2
(Tokyo)

j NetherI lands Switzerland
; (Amster- (Zurich)
I dam)

Month
Bankers' I Private
months
January..
February...
March
April
May
June
July
August
September..
October
November..
December..
January
February...
March
April
May
June
July...
August
SeptemberOctober
November..
December..
January
February. _.
March
April
May
June
July
August
SeptemberOctober
November..
December..
January
February...
March
April
May
June__
July
August
September.
October
November..
December..
January
February--March
April
May
June_._
July
August
SeptemberOctober
November..
December..

1926

4.57
4.27
4.25
4.25
5.15
5.73
6.00
7 00
6.98
7.25
6.69
5.77

5.46
5.00
4.88
4.69
4.53
4.54
4 61
4.88
4.82
4.G3
4.72

8.18
8.00
8.00
8.00
8.00
8.17
8.50
8.50
8.50
8.96
9.25
9.25

2.95
2.19
2.67
2.90
2.95
2.83
2.74
2.63
2.78
2.83
3.21
3.39

2.44
2.22
2.18
2.30
2.38
2.38
2.37
2.34
2.52
2.80
2.96
3.35

4.99
4.45
3.89
3.17
2.46
2.25
2.13
2.04
2.01
1.82
2.75
2.95

4.20
4.23
4.59
4.61
4.90
5.39
5.90
5.82
5.90
6.69
6.76
6.87

9.25
9.25
9.25
9.25
8.50
7.60
7.00
7.00
6.81
6.50
6.27
6.00

2.97
3.47
3.50
3.47
3.46
3.57
3.53
3.45
3.56
4.11
4.50
4.49

3.16
2.87
2.98
3.13
3.19
3.42
3.47
3.44
3.39
3.38
3.39
3.40

4.19
4.18
4.12
4.02
3.97
3.82
3.99
4.27
4.23
4.35
4.38
4.37

2.81
2.75
2.72
2.62
2.62
2.90
3.12
3.23
3.26
3.37
3.37
3.41

6.27
6.20
6.72
6.71
6.66
6.59
6.74
6.68
6.65
6.57
6.28
6.28

6.00
5.89
5.75
5.49
5.25
5.25
5.25
5.25
5.25
5.25
5.45
5.50

6. 57-6. 94
6. 57-6. 75
6. 39-6. 75
6. 39-6.57
6. 21-6. 57
6. 21-6. 39
6. 02-6. 39
6. 21-6. 39
6.02-6. 21
5. 84-6. 21

4.29
3.97
3.97
4.18
4.27
4.18
4.10
4.13
4.39
4.40
4.44
4.46

3.29
3.12
3.20
3.29
3.32
3.40
3.44
3.41
3.38
3.38
3.35
3.32

4.32
5.05
5.33
5.21
5.21
5. 32
5.38
5.47
5.59
6. 13
5.35
4.76

3.50
3.39
3.37
3.44
3.49
3.50
3.50
3.50
3.50
3. 50
3.50
3.50

5.80
5.80
6.31
6.63
7.49
7.50
7.39
7.18
7.18
7.28
6.89
6.98

5.83
6.00
6.31
6.75
6.83
6.75
6. 75
6.85
7.01
7.18
7.00
7.00

5. 84-6. 21
5. 66-5. 84
5. 66-5. 84
5. 48-5. 66
5. 48-5. 66
5. 48-5. 66
5. 48-5. C6
5.48
5.48
5.48
5.48
5.48

4.20
4.39
4. 64
5. 36
5.37
5.30
5.20
5.06
5.36
5.15
4.26
3.52

3.28
3.31
3.39
3.45
3.34
3.26
3.19
3.33
3.38
3.38
3.32
3.15

4.07
3.82
2.78
2.48
2.16
2.31
2.37
2.21
2.07
2.09
2. 18
2.30

3.38
2.91
2.70
2.57
2.36
2.11
2.08
2.10
1.99
2.00
2.00
2.03

6.33
5.53
5.12
4.46
3.89
3.58
3.40
3.24
3.30
4.66
4.79
4.82

7.00
6.95
6.57
6.43
5.81
5.50
5.50
5.50
5.48
5.25
5.43
5.50

5.48
5.48
5.48
5.48
5.48
5.48
5.48
5.48
5.48
5. 48-5. 66
5.48-5.66
5.48-5.66

2.99
2.80
2.50
2.52
2.29
1.89
1.85
1.83
1.96
1.59
1.31
1.39

2.97
2.71
2.60
2.61
2.44
2.06
1.92
1.75
1.50
1.29
1.16
1.18

4.76
4.31
4.37
4.33
4.37
4.27
4.26
4.45

1927

1928

1929

1930

Private Private
Private Private
discount discount Discounted discount discount
bills
rate
rate
rate
rate

1 All figures are monthly averages. For sources used and detailed explanation of methods of quotation,
see Federal Reserve Bulletin ior November, 1926, April, 1927. November, 1929, and May, 1930.
2
Revised series; see Federal Reserve Bulletin for July, 1929.
Digitized for Back figures.—See Annual Report for 1926 (Table 116).
FRASER



MEMBER AND NONMEMBER
BANK CREDIT

33454—31




7

87

ALL BANES IN THE UNITED STATES
No.

42.—ALL BANKS 1 IN THE UNITED STATES—LOANS AND INVESTMENTS OP
MEMBER AND NONMEMBER BANKS, 1914-1930
[In millions of dollars]
Loans and investments

All
banks

NonMem- member
ber
banks banks

1914—June 30
1915—June 231916—June 30
1917—June 20
1918—June 29
1919—June 30
1920—June 30
1921—June 30— .
1922—June 30

20,789
21,466
24,587
28,287
31,813
36,570
41,685
39,999
39,956

3 8,313
8,764
10,315
12,453
18,507
22,242
25,559
24,121
24,182

1923—June 30
Dec. 31

43,738
44,003

1924—June 30
Dec. 31

Loans

Investments

All
banks

NonMem- member
ber
banks banks

All
banks

NonMem- member
ber
banks banks

* 12,475
12,702
14,271
15,833
13,306
14,330
16,125
15,880
15,774

15,248
15,643
17,961
20,510
22,392
24,710
30,824
28,970
27,732

»6,443 <8,804
6,720 8,923
7,964 9,996
9,370 11,140
13,233 9,158
15,414 9,297
19,533 11,290
18,119 10,852
17,165 10,567

5,541
5,823
6,626
7,777
9,421
11,860
10,861
11,029
12,224

a 1,870
2,044
2,351
3,083
5,274
6,827
6,026
6,002
7,017

*3,671
3,779
4,274
4,693
4,147
5,033
4,835
5,028
5,207

26,507
26,487

17,230
17,516

30,378
30,778

18,750
18,842

11,627
11,936

13,360
13,225

7,757
7,645

5,603
5,580

45,180
47,182

27,167
28,746

18,013
18,437

31,523
32,440

19,204
19,933

12,320
12,507

13,657
14,742

7,963
8,813

5 693
5,929

1925—June 30.- .
Dec. 31

48,830
50,603

29,518
30,884

19,312
19,720

33,865
35,640

20,655
21,996

13,210 14,965
13,644 14,963

8,863
8,888

6,102
6,076

1926—June 30
Dec. 31.

51, 562
52,018

31,184 20,378
31, 642 20,376

36,157
36, 759

22,060 14,097
22, 652 14,106

15,404
15,260

9,123
8,990

6,281
6 269

53, 750
55,450

32, 756 20,994
34, 247 21,204

37,360
38,407

22,938
23,886

14,421
14,521

16,391
17,043

9,818
10,361

6,573
6,683

1928—June 30
Dec. 31

57, 265
58,266

35,061
35,684

22,204
22,582

39,464
40, 763

24,303
25,155

15,161
15,607

17,801
17,504

10,758
10,529

7,043
6,975

1929—June 29
Dec. 31

58, 474
58,417

35, 711 22,763
35,934 22,483

41, 512
41,898

25,658
26,150

15,853
15,748

16,962
16,519

10,052
9,784

6,910
6,735

1930—June 30

58,108

35,656

40,618

25,214

15,404

17,490

10,442

7,048

Date*

1927—June 30.
Dec. 31

.

.

.

22,453

1 Includes member and nonmember banks (23,852 altogether in June, 1930) as follows: National banks,
State commercial banks and trust companies, mutual and stock savings banks, and all private banks under
State supervision (about 243 in June, 1930).
2
Dates of reports of member banks;figuresfor ronmember banks are as of nearest available date.
3 National banks.
* Nonnational banks.




89

90

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 43.—ALL BANKS X IN THE UNITED STATES—DEPOSITS OF MEMBER AND
NONMEMBER BANKS (EXCLUSIVE OP INTERBANK DEPOSITS), 1914-1930
[In millions of dollars]

Date a

All
banks

Member
banks

Nonmember
banks

1914—June
1915—June
1916—June
1917—June
1918—June

30
23
30
20
29

18,566
19,131
22, 759
26,352
28, 765

3 6,374
6,678
8,395
10,301
15,670

«12,192
12,453
14,364
16,052
13,095

1919—June
1920—June
1921—June
1922—June
1923—June
Dec.

30
30
30
30
30
31..

33,603
37,721
35, 742
37,615
40, 688
42,163

19,171
21,915
20,637
22,397
23,871
24,996

14,433
15, 805
15,104
15, 219
16,817
17,167

Date'

1924—June 30

Dec. 31

1925—June 30

Dec. 31

1926—June 30
Dec 31
1927—June 30
Dec. 31
1928—June 30
Dec. 31
1929—June 29

Dec. 31

1930—June 30

All
banks
43,405
45,835
47,612
49,224
49, 733
50,029
51,662
52,909
53,398
56,766
53,852
55,289
54,954

NonMember member
banks
banks
25,711
27,836
28,440
30,029
29,781
30,474
31,269
32,063
32,133
34,826
32,284
33,865
33,690

17,694
17,999
19,172
19,195
19,952
1Q

cce

20,393
20,846
21,265
21,940
21, 567
21,424
21,264

i Includes member and nonmember banks (23,852 altogether in June, 1930) as follows: National banks,
State commercial banks and trust companies, mutual and stock savings banks, and all private banks under
State supervision (about 243 in June, 1930).
i Dates of reports of member banks;figuresfor nonmember banks are as of nearest available date.
* National banks.
4
Nonnational banks.




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

91

ALL MEMBER BANKS
No. 44.—ALL MEMBER

BANKS—RESOURCES

AND LIABILITIES OF NATIONAL

AND STATE BANK MEMBERS, DECEMBER 31, 1929

AND

1930

[In thousands of dollars]
Total
Dec. 31,
1929

National banks * State bank members

Dec. 31,
1930

Dec. 31, ! Dec. 31, Dec. 31,
1929

1930

1929

Dec. 31,
1930

RESOURCES

Loans (including overdrafts).
26,150,061 23, 870,488 15,136,414 14, 346, 762 11,013,647 9,523,726
United States Government securities
3,862,968 4,124, 776 2,608,865 2, 649,262 1,254,1031 1,475,514
•-- —
Other securities
5,920,921 6,864,247 3,839,049 4,429,613 2,081,872 2,434,634
Total loans and investments
35, 933,950 34,
1,859,511 21, 584, 338 1,425,637 14, 349, 622 13,433,874
Customers' liability on account of acceptances
_
1,252,147 1,117, 833
617, 502
634,645
613,607
504, 226
Banking house, furniture, and fixtures
1,190,306 1, 240,444;
765,835
424,471
811,499
428, 945
Other real estate owned
_
_
183,989
123, 599
60,390
191,169
120, 719
70,450
Cash in vault
592,504
558,450
390,140
168,310
405,821
186,683
Reserve with Federal reserve banks.2, 373,760 2,474, 509 1,348, 046 1,460,365 1,025, 714 1, 014,144
Items with Federal reserve banks in process of collection
994,373
583, 627
450, 229
410,746
306,987
757, 216
Due from banks in United States
2,167, 756 2,455,948 1, 565, 020 1,777,03'
602, 736
678,911
Due from banks in foreign countries (including own branches)
83,294
180,540
204,448
260,818
56,370
Exchanges for clearing house and other
checks on local banks
2, 762,463 2, 076,189 1,193,331 1,010,263 1,569,132 1,065,926
139, 056
Outside checks and other cash items
92, 679
46,377
63,011
29,755
92,766
Redemption fund and due from United
32,889
States Treasurer
32,889
32, 318
32,318
Acceptances of other banks and bills of exchange or drafts sold with indorsement. 735,193 662,686
244,489
230,961
504,232
418,197
Securities borrowed
15, 803
35, 533
26, 985
8,548
21,069
5,266
Other assets
_
219, 379
118, 586
222,911
104,100
115, 279
104,325
Total.

48,843, 078 47, 057, 891 28, 839, 582 28, 753,832 20,003,496 18, 304,059
LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net.
_.
Reserves for dividends, contingencies, etc.
Reserves for interest, taxes, and other expenses accrued and unpaid
Due to Federal reserve banks
Due to other banks in United States
Due to banks in foreign countries (including own branches)
Certified and officers' checks outstanding.
Cash letters of credit and travelers' checks
outstanding
Demand deposits
Time deposits
United States deposits.
__
Agreements to purchase United States
Government or other securities sold
Bills payable and rediscounts:
With Federal reserve banks
Allother
Acceptances of other banks and bills of exchange or drafts sold with indorsement.
Acceptances executed for customers
Acceptances executed by other banks for
account of reporting banks
National-bank notes outstanding
Securities borrowed
Other liabilities..
Total

2, 757,113 2,665,151 1, 701, 048 1, 718, 734 1,056,065
946,417
2,864, 612 2,822, 091 1, 546, 323 1, 546,302 1, 318,289 1, 275, 789
413, 073
496,475
379,007
894,388
909, 548
515,381
85,676
91, 576
177,25r
108,269
103,138
211,407
65,821
137, 660
71,839
64,277
121,190
56,913
54,458
42, 908
11, 550
16,851
49,267
32, 416
3, 517, 325 3,872,842 2,165, 717 2,360,920 1, 351, — 1,511,922
576,664
634,927
1, 603, 562 1,223, 777

257,863
686,545

388,597
633, 590

318,801
917, 017

246,330
590,187

9,734
13, 726
23,460
12,183
8,77'
20,960
.,
18, 861, 582 17,501,550 11 074,485 10,622,893 7, 787,097 6, 878,657
13, 233,481 13; 546,201 8,419, 021 8, 711, 721 4,814,460 4, 834,480
!,
42, 61,"
100,588
106, 777
160,638
143, 203
267,415
136, 957

158,141

31, 981

33, 073

104,976

125,068

646, 334
232,188

248,017
107,151

425, 576
120, 011

185, 732
69,874

220, 758
112,177

62,285
37,277

662,686
735,193
1,276,159 1,138,624

230,961
626,497

244,489
625,450

504,232
649, 662

418,197
513,174

12, 525
645, 562

8,242
639,640
15, 803
59,014

17,122

6,789

8,548
160, 223

5,266
177, 352

29,647
645, 562
35, 533
245, 58£

15,031
639, 640
21,069
236,366

48,843,078 47,057,

55, 362

28,839, 582 28, 753,832 20,003,496 18, 304, 059

J
Member banks only; i. e.f exclusive of national banks in Alaska and Hawaii.
Backfigures.—Forprincipal items see Table 46, also Annual Report for 1926 (Tables 77-78: Separate
figures for national and State members); for details see (1) Member Bank Call Report Nos. 35-50; (2)
Annual Reports for 1929 (Table 42), 1928 (Table 4i6), 1927 (Table 84), 1926 (Table 79), 1925 (Tables 78-80),
1924 (Tables 78-80); (3) Federal Reserve Bulletins.




92

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 45.—ALL MEMBER BANKS—RESOURCES AND LIABILITIES OF RESERVE CITY
AND COUNTRY BANKS, DECEMBER 31, 1929 AND 1930

[In thousands of dollars]
Other reserve city
banks

Central reserve
city banks
Dec. 31,
1929

Dec. 31,
1930

8,130,237
1, 228,333
1,172, 079
% 530, 649

7,490, 506
1,479, 081
1,473, 861
),
10; 443,448

Country banks

Dec. 31,
1929

Dec. 31,
1930

8,935, 538
1,266, 750
3,172,380
L3,374, 668

8,000, 826
1,159,406
3, 359, 246
2,519,478

245,866
448,872
67, 432
169,217
770,591

16,827
529,439
112,204
321,073
626, 797

13,929
535,931
111,239
317,317
594, 572

437,347 348, 204
947,364 1,141, 771

152, 492
908, 342

136,049
974,603

Dec. 31,
1929

Dec. 31,
1930

RESOURCES

Loans (including overdrafts)
United States Government securities
Other securities
Total loans and investments
Customers' liability on account of acceptances
Banking house, furniture, and fixtures
Other real estate owned
Cash in vault
__
_
Reserve with Federal reserve banks
Items with Federal reserve banks in process of collection
Due from banks in United States
Due from banks in foreign countries (including own branches)
Exchanges for clearing house and other
checks on local banks
Outside checks and other cash items
Redemption fund and due from United
States Treasurer
.
Acceptances of other banks and bills of
exchange or drafts sold with indorsementSecurities borrowed
_
Other assets
Total.

9,084,286 8,379,156
1,367,885 1,486,289
1,576,462 2,031,140
13!
^,028,63311,896,585

858,038
255,641
12,498
105,970
80,979
995, 567 1,109, 346
950, 087
225, 650

285,233
435, 217
63,089
156,398
751,396

404, 534
312, 050

272,963
339, 574

212, 733

188, 571

46,444

69,411

4,657

2,836

2,135,924 1,617,600
13, 526
23, 379

519,190
84,387

361,952
54,222

107, 349
31,290

96,637
25, 018

2,044

2,220

7,825

7,426

23, 020

22,672

647, 432
211
84, 521

558, 973

84, 522
23,738
87, 35f

98,309
9,752
80,933

3,239
11, 584
47, 506

5,404
11,317
56,309

85,669

16,614,456 15,864,03: 15,958,135 15, 770, 543
16,270,487 15,423,311
LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
___
Reserves for dividends, contingencies, etc. _
Reserves for interest, taxes, and other expenses accrued and unpaid
Due to Federal reserve banks
_
Due to other banks in United States
Due to banks in foreign countries (including own branches)
Certified and officers' checks outstanding.
Cash letters of credit and travelers' checks
outstandingDemand deposits
_
Time deposits
United States deposits
Agreements to repurchase United States
Government or other securities sold
Bills payable and rediscounts:
With Federal reserve banks
Allother
Acceptances of other banks and bills of
exchange or drafts sold with indorsement
_
Acceptances executed for customers
Acceptances executed by other banks for
account of reporting banks
National-bank notes outstanding
Securities borrowed
Other liabilities
Total

893, 781
1,138,815 1,109,306
339,903
321,702
67,110
77, 743

867,837
860, 810
243, 273
56, 733

841, 701
854, 245
231,335
72,124

47,972
38,402
44,135
56, 736
9,420
9
10,474
10
1, 508, 284 1, 713,815 1,603,756 1, 772, 505
523,381
1,195, 333

577, 274
874,584

50,451
283,723

55, 722
237,458

995,495
864,98"
344, 573
53,409

858, 540
323,150
61, 540

36,789
43,974
405,285

34,816
39,838
386, 522

2,832
124,506

1, 931
111, 735

384
5,471
15,105
17,223
5,834
403
7,057,844 6,687,470 5,970,365 5, 594,468 5,833,373 5,219,612
1, 755, 014 1,805,404 4,888,— 5, 202,345 6,590,408 6,538,452
52, 908
62, 640
39,326
27,999
75,878 151,867
67, 545

100, 921

53,535

42,237

15,877

14,983

149,108
71,050

20, 516
16, 024

242,078
49,622

63,380
11,638

255,148
111, 516

164,121
79, 489

647,432
967,450

558, 973
873,151

, 84,522
292,812

98,309
252,889

3,239
15,897

5,404
12, 584

14,340
39,407
21:
94,68:

9,878
44,119

13, 561
153,124
23,738
83,815

3,47:
144, 298
9,752
77,506

1,746
453,031
11,584
67,089

1,682
451, 223
11,317
68,272

90, 588

16, 614,456 15, 864,037 15,958,135 15, 770, 543 16, 270,487 15,423, 311

Back figures.—See (1) Member Bank Call Report, Nos. 35-50 (where data are given by cities); (2) Annual
Reports for 1929 (Table 43), 1928 (Table 47), 1927 (Table 85), 1926 (Table 80), 1925 (Tables 81-84), 1924 (Tables
81-84); and (3) Federal Reserve Bulletins.




No. 46.—CLASSIFICATION OF MEMBER BANK LOANS AND INVESTMENTS ON CALL DATES, 1928-1930
[In millions of dollars]
Loans to customers (exclusive of banks)

Call date

Total:
1928—Oct. 3
Dec. 31
1929—Mar. 27
June 29
Oct. 4
Dec. 31
1930—Mar. 27
June 30
Sept. 24
Dec. 31
Reserve city b a n k s :
1928—Oct. 3
Dec. 31
1929—Mar. 2 7 . . . .
June 29
Oct. 4
Dec. 31
1930—Mar. 2 7 . . . .
J u n e 30_____
Sept. 2 4 . . . .
Dec. 31
Country banks:
1928—Oct. 3
P*
Dec. 31
r~ 1929—Mar. 27
F"?
J u n e 29
Oct. 4
Dec. 31
1930—Mar. 27
J u n e 30
Sept. 2 4 . . . .
Dec. 31
1

Total
loans
and
investments

Total

Secured
by
All
stocks other
and
bonds

34,929
35,684
35,393
35, 711
35,914
35,934
35,056
35,656
35,472
34,860

548
538
548
670
640
714
527
535
466
631

21,317
22,017
21, 652
21,992
22,134
22, 559
21,813
22,499
22, 528
22,340

502
500
509
621
595
669
462
473
404
569

8
((822))

13,612
13, 667
13,741
13, 719
13,780
13,375
13,243
13,157
12,944
12,519

46
37
39
49
45
45
65
62
62
62

I
1

8

Loans to brokers and

1
246
220
164
300

1
8

• 216
253
240
269

1

11
11
15
dealers in securities




267
305
291
316
(2)

260
230
175
315

§

Purchased paper

Total

To
brokers To
outside other Farm
cusland
New
York tomers
City

52
51
46

Otherwise secured
Other and
real
unseestate cured

21,240
21,460
21,903
22, 517
23, 249
23,194
21,495
21, 566
21,010
21,007

850
975
1,014
921
939
803
706
819
774
675

5,796
6,373
6,526
6,813
7,170
7, 685
7,024
7,242
7,090
7,266

421
2,668
412
2,711
403
2,720
'404 ' 2, 760
392
2,760
388
2,803
394
2,775
386
2,769
387
2,776
387
2,847

13,016
13, 207
13, 539
13,966
14, 622
14, 712
13,288
13,337
13,003
13,244

733
868
900
817
814
720
613
729
685
617

4,186
4,574
4,584
4,779
5,000
5,454
4,926
5,105
4,978
5,176

127
121
114
••113
113
112
115
112
112
123

8,224
8,253
8,364
8,551
8,628
8,482
8,206
8,228
8,007
7,762

117
107
114
105
125
83
93
90
88
59

1,610
1,799
1,942
2,034
2,170
2,231
2,097
2,137
2,112
2,090

294
290
289
291
279
276
279
274
275
264

8
\
in New York City.
(

Investments

Open-market loans

Secured by
Secured by real
estate
stocks and bonds

Loans to banks

r

Total

Total
loans
U.S.
Gov- Other on
Accept- AcceptStreet Total ern- securi- stocks
ances ances, Com- loans '
and
ment
etc.,
merpaysecuri- ties bonds
cial
able in payties
United able paper
States abroad
3

11,507
10,991
11, 240
11,618
11,988
11,515
10,595
10, 349
9,982
9,831

2,537
3,158
2,493
2,471
2,275
2,243
3,097
3,113
3,262
2,233

80
109
146
108
93
212
175
170
205
315

101
103
93
90
70
80
79
71
62
55

457
390
376
249
228
291
499
507
523
366

1,899
2,556
1,879
2,025
1,885
1,660
2,344
2,365
2,472
1,498

10,604
10,529
10,448
10,052
9,749
9,784
9,937
10, 442
10,734
10,989

4,386
4,311
4,454
4,155
4,022
3,863
4,085
4,061
4.095
4,125

6,218
6,217
5,994
5,898
5,727
5,921
5,852
6,380
6,639
6,864

1,539
1,557
1,543
1, 565
1,554
1,617
1,580
1,569
1,571
1,656

6,432
6,087
6,397
6,693
7,141
6,809
6,054
5,823
5, 656
5,673

1,923
2,533
1,895
1,975
1,722
1,834
2,601
2,801
2,976
2,056

56
79
102
75
66
179
148
162
202
310

84
95
85
83
64
75
75
67
58
52

262
179
184
109
83
128
292
336
359
246

1,521
2,180
1,525
1,708
1,509
1,452
2,086
2,235
2,357
1,448

5,877
5,777
5,708
5,429
5,195
5,345
5,462
5,888
6,145
6,470

3,024
2,930
3,030
2,771
2,661
2,593
2,812
2,833
2,876
2,965

2,853
2,847
2,678
2,658
2,534
2,749
2,650
3,055
3,269
3,505

3 6, 690
3 7,872
3
7,264
3 7,614
3 7, 620
» 7,959
7,872
8,289
8,184
7,541

1,129
1,153
1,176
1,195
1,206
1,186
1,196
1,201
1,025
1,191

5,075
4,904
4,843
4,926
4,847
4,705
4,541
4,527
4,326
4,158

614
625
598
496
553
408
497
312
286
177

24
30
44
33
27
33
27
8
4
5

17
8
8
7
6
5
4
4
4
3

195
211
192
140
144
163
207
171
164
120

378
376
354
316
376
208
258
129
115
49

4,727
4,751
4,740
4,623
4,554
4,439
4,475
4,554
4,589
4,519

1,362
1,382
1,424
1,384
1,361
1,267
1,273
1,229
1,219
1,159

3,365
3,370
3,316
3,240
3,193
3,172
3,202
3,326
3,370
3,359

3 2,129
3 2,300
3 2,429
3 2,480
3 2,694
3 2, 545
2,462
2,367
2,326
2,213

2 Figures not available.

4

Security loans to banks estimated.

8,819
10,172
3 9,693
3
10, 094
3
10, 314
3
10, 505
10, 334
10, 656
10, 511
9,754

3

' Revised.

No.

47.—ALL MEMBER BANKS—PRINCIPAL

Loans and investments
Due
from
banks 2

Investments

Call date
Total

Loans »
Total

Other
U.S.
securi- securities
ties

CO

RESOURCES AND LIABILITIES ON CALL DATES, 1914-1930
[In millions of dollars]
CapiNet
tal, surUnited
Net
plus,
Total
Demand Time States Due to demand demand
plus
deand
6
banks deposits
time
undi- deposits deposits * posits « dedeposits 7
vided
profits«

1914—Dec. 31—

8,498

6,419

2,079

760

1,319

1,163

8,305

5,125

1,233

71

1,876

6,235

7,468

1916—Mar. 4 . .
Mayl__
June 23..
Sept. 2 . .
Nov. 10.
Dec. 3 1 -

8,570
8,707
8,764
9,048
9,693
9,861

6,563
6,705
6,720
6,965
7,483
7,622

2,007
2,002
2,044
2,083
2,210
2,239

747
750
749
747
745
742

1,260
1,252
1,295
1,336
1,465
1,497

1,353
1.322
1,282
1,443
1,637
1,563

2,098
2,097
2,124
2,129
2,146
2,126

8,967
8,894
9,437
10,389
10,636

5,092
5,367
5,278
5,491
6,152
6,334

,264
,320
,352
,416
,463
,506

58
46
48
44
40
35

2,252
2,234
2,216
2,486
2,734
2,761

6.622
6,735
6,811
7,145
7,879
7,971

7,886
8,055
8,163
8,561
9,342
9,477 ]

1916—May 1__
June 30—
Sept. 12.
Nov. 17.
Dec. 27__

10,252
10,315
10,732
11,259
11,275

7,898
7,964
8,263
8,712
8,714

2,354
2,351
2,469
2,547
2,561

710
703
703
697

1,644
1,648
1,766
1,850
1,871

1,767
1,564
1,748
2,057
1,874

2,148
2,143
2,184
2,213
2,231

11,404
11,133
11,737
12,893
12, 661

6,661
6,581
6,892
7,522
7,340

,686
,775
,853
1,940
1,983

34
39
34
34
35

3,022
2,738
2,958
3,397
3,303

8,336
8,226
8,804
9,567
9,502

1917—Mar. 5 . .
May 1__
June 2 0 Dec. 31..

11,701
11,985
12,453
16,896

8
9,208
» 9,370
M12,316

2,605
2,777
3,083
4,580

1,918
2,029
2,018
2,820

2,056
1,897
1,695
2,129

2,218
2,258
2,307
2,807

13,396
13,651
13,397
18,628

7,503
7,915
7,856
11,180

2,125
2,263
2,304
3,156

34
35
141
649

3,734
3,438
3,096
3,643

10,044

748
1,065
1,759

1918—May 10.
June 29__
Nov. 1 . .
Dec. 3 1 -

18, 673
18,507
20,981
20,593

».»12, 667
M 1 3 , 233
814, 550
« 14,224

6,006
5,274
6,431
6,368

3,203
2,465
3,591
3,472

2,803
2,840
2,896

1,870
1,906
2,036
2,194

3,005
3,002
3,222
3,220

19,210
18,954
20,864
21,457

11,051
10, 754
12,059
13,347

3,347
3,395
3,651
3,834

1,459
1,521
1,708
472

3,353
3,284
3,446
3,804

1919—Mar. 4 . .
June 3 0 Nov. 17.
Dec. 3 1 -

21,484
22,242
24,187
24,778

8 13,877
8 15,414
8 17,423
8 18,149

7,607
6,827
6,765
6.630

4,652
3,803
3,494
3,324

2,955
3,024
3,271
3.306

2,137
2,125
2,575
2,519

3,280
3,350
3,587
3,542

21,511
22,833
25,183
26,139

12,727
13,925
15,652
16,080

4,092
4,344
5,050
5,305

884
902
386
648

3,662
4,095
4,106

12,451
12, 217
13, 322
14,563
14,160
14,725
16,261
16,576

1920—May 4__
June 30—
Nov. 15.,
Dec. 2 9 -

25,418
25,559
25,769
25, 531

19,198
19,533
19,852
19,555

6,220
6,026
5,917
5,976

2,958
2,811
2,655
2,619

3,262
3,215
3,262
3,357

1,874
1,824
1,774
1,577

3,853
4,086
4,120

24,871
25,401
25,106
24,220

15,388
15, 744
15,512
14,632

5,747
5,911
6,144
6,188

190
260
220
316

3,546
3,486
3,230
3,084

1921- -Apr. 28..
June 30..
Dec. 31..

24,390
24,121
23,482

18,487

5,903
6,002

2,496
2,561
2,581

3,407
3,441
3,507

1,325
1,354
1,450

4,156
4,133
4,093

22,830
23,350
23,247

13,527
13,881
13,630

6,343
6,367
6,451

273
390

2,687
2,713
2,860

Reserve Bills
paywith
Federal able
and
reserve redisbanks counts




18,119
17,394

Number of
banks

133

7,582

295
295
317
324
376
414

96
91
98
106
104
99

7,607
7,614
7,615
7,630
7,640
7,631

10,022
10,001
10,657
11,507
11,485

438
490
554
674
733

64
69
95
80
95

7,605
7,606
7,618
7,614
7,614

12,169
12,132
11,993
15,643

778
802
862
1,497

75
8 95
8 327
8 783

7,614
7,629
7,653
7,907

15, 797
15,612
16,973
18,397

1,536
1,565
1,520
1,655

8 1,043
81,022
8 1,912
81,876

8,132
8,213
8,596
8,692

18, 252
19,069
21,310
21,881

1,633
1,724
1,825
1,904

8 1,962
8 1,927
8 2, 257
8 2,347

8,725
8,822
8,995
9,066

16,426
16,422
15,924
15,345

22,173
22,333
22,068
21,533

1,866
1,839
1,827
1,763

2,755
2,701
3,080
3,036

9,291
9,399
9,567
9,606

14,389
14,321
14,449

20,732
20,688
20,900

1,654
1,625
1,758

2,313
2,022
1,364

9,698
9,745
9,779

12,487

1922—Mar. 10.
June 30._
Dec. 29..

23,278
24,182
25,579

17,080
17,165
17,930

6,198
7,017
7,649

2,701
3,205
3,754

3,497
3,812
3,896

1,614
1,647
1,806

4,185
4,214
4,364

23,660
25,547
27,288

13,503
15,065
15,689

6,662
7,175
7,645

330
156
462

3,165
3,150
3,492

14,498
15,539
16,203

21,160
22,714
23,848

1,723
1,835
1,939

758
592
727

9,816
9,892
9,859

1923—Apr. 3-__.
June 30__.
Sept. 14..
Dec. 31—

26,141
26, 507
26, 319
26,487

18,419
18,750
18,719
18,842

7,722
7,757
7,600
7,645

3,849
3,835
3,685
3,603

3,873
3,922
3,915
4,042

1,774
1,596
1,640
1,824

4,356
4,367
4,436
4,378

27,200
27,088
26,942
28,507

15,145
15,196
15,128
16,107

8,143
8,378
8,466
8,651

404
3,508
297 I 3,217
3,203
145
3,512
237

16,086
16,066
15,919
16,376

24,229
24,444
24,385
25,027

1,909
1,871
1,869
1,900

815
944
983
808 !

9,850
9,856
9,843
9,774

1924—Mar. 3 1 . .
June 30...
Oct. 10...
Dec. 31...

26,663
27,167
28,311
28,746

19,045
19.204
19,713
19,933

7,618
7,963
8,599
8,813

3,534
3,575
3,866
3,874

4,084
4,387
4,733
4,939

1,644
1,940
2,430
2,339

4,468
4,486
4,594
4,532

28,270
29, 566
30,795
32,384

15,609
16,329
16,406
17,788

8,890
9,204
9,597
9,805

292
179
302
242

3,480
3,854
4,490
4,548

16,112
16,838
17,804
18,468

25,002
26,042
27,401
28,273

1,893
1,965
2,121
2,228

614 ! 9,681
443 I 9,650
9,635
325
9,587
408

1925—Apr. 6 . . .
June 30..
Sept. 28.
Dec. 3 1 . .

29,046
29, 518
30,176
30,884

20,176
20,655
21,285
21,996

8,869
8,863
8,890
8,888

3,894
3,780
3,761
3,728

4,975
5,082
5,129
5,160

2,091
2,017
2,031
2,155

4,669
4,690
4,688
4,678

31,249
32,457
32,075
34,250

16,629
17,882
17,452
19,072

10,127
10,381
10,467
10,653

412
177
278
304

4,081
4,018
3,878
4,221

17,708
18,277
18,259
19,260

27,835
28,658
28,726
29,913

2,092
2.191
2,147
2,238

559
712
733

30,819
31,184

9,034
9,123
8,990

3,805
3,745
3,389

5,229
5,378
5,601

1,934
1,980
2,066

4,826
4,832
4,944

32,893
33,762
34,528

17,710 10,955
18, 381 11,173
18,800 11,440

379
228
234

3,849
3,980
4,054

18,392
18,804
18,922

29,347
29,977
30,362

2,136
2,236
2,210

620
612
760

9,412
9,375
9,260
9,144
9,099
9,087
9,034

—J

31,642

21,785
22,060
22,652

22,327 9,622
22,938 9,818
23,227 9,959
23,886 10,361

3,835
3,796
3,856
3,978

5,787
6,022
6,103
6,383

1,896
1,968
2,077
2,210

5,086
5,147
5,295
5,341

33,756
35,398
35,482
36,669

17,644 11,818
18,842 12, 210
18,378 12,459
19,032 12,765

407
218
435
267

3,887
4,129
4,209
4,606

18,542
19,250
19,170
20,105

30,360
31,460
31,629
32,870

2,321
2,280
2,320
2,514

546
541
528

_.

31,949
32, 756
33,186
34, 247
35,061
34,929
35,684

23,099
24,303
24,325
25,155

10,590
10, 758
10,604
10,529

4,216
4,225
4,386
4,312

6,374
6,534
6,218
6,217

1,941
1,897
2,026
2,124

5,404
5,625
5,842
5,899

35,375
36,060
36,175
39,075

18,182
18, 437
18, 570
21, 111

12,923
13,439
13,410
13,453

86
257
159
262

4,184
3,927
4,037
4,249

19,236
19,191
18,995
19,944

32,158
32,629
32,405
33,397

2,367
2,342
2,348
2,409

581
209
154
162

8,929
8,896
8,837

35,393
35,711
35,914
35,934

24, 945 10,448
25, 658 10,052
26,165 9,749
26,150 9,784

4,454
4,155
4,022
3,863

5,994
5,898
5,727
5,921

1,741
1,885
2,005
2,168

6,174
6,345
6,675
6,709

36,799
35,893
36, 694
38,014

19,476
18,611
19,371
20,489

13,329
13,325
13, 318
13, 233

411
348
315
143

3,584
3,608
3,690
4,148

18,833
18,977
18,952

19, 797

32,162
32,302
32, 269
33,030

2,339
2,359
2,322
2,374

153
198
150
879

8,755
8,707
8,616
8,522

35,056
35,656
35,472
34,860

25,119 9,937
25, 214 10,442
24, 738 10,734
23,870 10,989

4,085
4,061
4,095
4,125

5,852
6,380
6,639
6,864

1,902
2,360
2,463
2,456

6,760
6,726
6,827
6,593

35, 836
38,139
36, 364
37,117

13,519
19, 597 13,812
17, 637 13,945
18, 746 13, 546

325
281
257
267

3,754
4,450
4,525
4,557

18,489
19,170
18,657
18,969

32,007
32,982
32, 602
32,516

2,353
2,408
2,415
2,475

347
435
316
355

8,406
8,315
8,246
8,052

1926—Apr. 12
June 30

Dec. 31
• 927—Mar. 23
June 30
Oct. 10
Dec. 31_.

I

1928—Feb. 28..
June 30_.

Oct. S . Dec. 31..

1929—Mar. 27
June 29
Oct. 4
Dec. 31
1930—Mar. 27
June 3 0 . . .
Sept. 24
Dec. 31

9,531
9,538

|
I
|

18,238

1
2

Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement.
Does not include items with Federal reserve banks in process of collection, or amounts due from foreign banks or own foreign branches.
a Includes reserves for dividends, contingencies, etc., but excludes, beginning Sept. 28,1925, reserves for interest, taxes, and other expenses accrued and unpaid.
* Includes certified and cashiers' or treasurers' checks, and letters of credit and travelers' checks sold for cash.
«Includes postal-savings deposits, except that such deposits of State bank members prior to June 20, 1917, are included with demand deposits.
e Includes amounts due to Federal reserve banks, foreign banks, and other banks and bankers; also amounts due to own foreign branches beginning Mar. 23,1927
7 Deposits subject to reserve requirements.
s Includes small amounts of bills sold with indorsement.
» Excludes customers' liability on letters of credit for State bank members.




Or

96

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 48.—ALL MEMBER BANKS—DEPOSITS SUBJECT TO RESERVE, RESERVES
REQUIRED, RESERVES HELD, AND BORROWINGS AT FEDERAL RESERVE BANKS,
BY MONTHS
[Averages of daily figures. In thousands of dollars]
Deposits subject to reserve
Class of bank and month
(1930)

Reserves held
Reserves
required

Net
demand i

Time 2

Total

18, 719, 288
18, 262,156
18,389,988
18, 652, 842
18, 644, 594
18,811,696
18,819,818
18,745, 621
18, 707, 253
18,726,044
18,958,633
18, 660,450

13, 261, 244
13,269, 284
13,401, 362
13, 506, 494
13, 584, 018
13,692,677
13,843,321
13,834,934
13,935,917
13,999,700
14,055,627
13,653,746

31,980, 532
31, 531,440
31,791, 350
32,159,336
32, 228, 612
32, 504,373
32, 663,139
32, 580, 555
32, 643,170
32, 725,744
33,014,260
32,314,196

Central reserve city banks:
January _
February
March
April
__.
May
June
July...
August..
September
October
November
December

6, 911, 314
6, 641,358
6, 767,907
6,910, 766
6,963,795
7,133,104
7,092, 545
7,145, 357
7,104,367
7, 240,602
7,485,692
7,443, 855

1,786, 742
1, 748,930
1, 834, 776
1,895, 746
1,925, 618
2,000,377
2,116,620
2,086,113
2,105,958
2,147, 616
2,110,070
1,875, 518

Reserve city banks:January
__
February
March
April
May
June
July
August
September
October
November
December

6,078, 506
5,944,171
5, 974, 268
6,071,316
6,026, 272
6,075, 234
6,169, 048
6,133,922
6,136,204
6,073, 218
6,100, 794
5, 991,468

4,895,031
4,915,187
4, 924,174
4,950,803
4,995,024
5,019,439
5,057,832
5,074,901
5,137,371
5,163,129
5,308, 556
5, 242, 879

10,973,537
1.0,859,358
10,898,442
11,022,119
11,021,296
11,094,673
11,226, 880
11,208,823
11,273, 575
11,236,347
11,409,350
11, 234, 347

754,701
741,872
745,151
755,658
752,477
758,106
768.639
765.640
767,743
762,217
769,336
756,433

Country banks:
January
February
March
April
May
June
July.
August
September
October
November...
December

5, 729, 468
5, 676, 627
5,647, 813
5,670,760
5, 654, 527
5, 603, 358
5, 558, 225
5, 466, 342
5,466,682
5, 412, 224
5, 372,147
5, 225,127

6, 579,471
6, 605,167
6, 642,412
6,659,945
6,663,376
6, 672, 861

12,308,939
12,281,794
12,290, 225
12,330,705
12,317,903
12, 276,219
12, 227,094
12,140,262
12,159, 270
12,101,179
12, 009,148
11,760,476

597,868
594,974
594,077
596,207
595,718
592,420
589,142
582,801
583,444
579,524
575,160
561,819

All member banks:
January
February
March
_
April
_
May
_
June
_
July_._
August
September
October
November
December

_.
__.

6, 673, 920
6, 692, 588
6, 688,955
6, 637,001
6, 535, 349

2, 304,642
2,252,691
2,274,099
2,307,138
2,311, 256
2,337,841
2,343,310
2,339,921
2,337,933
2,347,447
2,380,938
2,342, 218

Total

Borrowings
at
Federal
Excess reserve
banks

2,349,131
2,305,923
2,330,049
2,349, 541
2,356,386
2,391,762
2,417,271
2,392,212
2,397,145
2,406,576
2,432,651
2,414,993

44, 489
53, 232
55,950
42,403
45,130
53,921
73,961
52,291
59,212
59,129
51,713
72,775

497, 620
378,282
271,772
231,111
245, 233
249, 774
223,392
213,750
188,468
196,164
220, 273
337,094

8,698,056
961,746
952,073
8,390,288
915,845
933,240
8, 602,683
934,871
951,756
8,806, 512
955, 273
960,685
8, 889, 413 963,061
969,428
987,315
9,133,481
997, 850
9, 209,165
985, 529 1,012,841
9, 231,470
998,947
991,480
9, 210, 325 986, 746 1,004, 501
9,388, 218 1,005, 706 1,023, 669
9, 595,762 1,036, 442 1,047,662
9, 319, 373 1,023,966 1,053,272

9,673
17,395
16,885
5,412
6,367
10,535
27,312
7,467
17,755
17, 963
11,220
29,306

72, 210
30,414
23,117
28,783
29, 623
27, 783
9,744
21,324
15, 537
15,020
11,363
41,277

766, 577
754,605
758,635
767,483
767, 845
776,391
789, 522
784,845
784,155
777,708
786,666
771, 743

11,876
12,733
13,484
11,825
15,368
18,285
20,883
19, 205
16,412
15,491
17,330
15, 310

188,509
138, 278
73,015
42,379
44,099
44,482
36,118
26,783
28,451
37,602
50,658
102,744

620,808
618,078
619,658
621, 373
619,113
617,521
614, 908
608, 420

22,940
23,104
25, 581
25,166
23,395
25,101
25, 766
25,619
25,045
25,675
22,163
28,159

236,901
209,590
175, 640
159, 949
171, 511
177, 509
177, 530
165, 643
144, 480
143, 542
158, 252
193,073

605,199
597,323
589, 978

1
Subject to reserve requirements of 13 per cent for central reserve city banks, 10 per cent for reserve city
banks, and 7 per cent for banks outside central reserve and reserve cities (so-called country banks).
2 Subject to reserve requirements of 3 per cent.
Back figures.—See Annual Report for 1929 (Table 46).




97

ALL MEMBER BANKS

No. 49.—ALL MEMBER BANKS—RESERVE BALANCES, BY MONTHS, 1919-1930
[ M o n t h l y averages of daily figures. I n millions of dollars]
1920

1921

1922

1923

1924

1925

1926

1927

1928

1929

1930

1,635 1,883
L, 612 1,858
L, 652 1,878
L, 656 1,870
L, 686 1,853
1,696 1,853
L, 719 1,840
L, 740 1,807
1,769 1,817
L, 793 1,815
1,837 1,782
: ,820 1,758

1,773
1,728
1,694
1,665
1,657
1,664
1,639
1,621
1,629
1,652
1,663
1, 673

1,707
1,689
1,711
1,733
1,783
1,820
1,812
1,799
1,811
1,836
1,825
1,840

1,918
L, 901
L, 873
L,869
1,874
1,867
1,867
1,835
1,848
1,864
1,875
1,882

1,911
1,892
1,915
1,905
1,922
2,001
2,046
2,072
2,120
2,141
2,164
2,182

2,194
2,159
2,137
2,123
2,132
2,141
2,160
2,151
2,161
2,203
2,221
2,219

2,236
2,208
2,198
2,183
2,199
2,206
2,212
2,201
2,211
2,219
2,214
2,218

2,243
2,212
2,240
2,248
2,262
2,301
2,289
2,283
2,300
2,326
2,373
2,399

2,426
2,368
2,365
2,396
2,388
2,355
2,324
2,274
2,314
2,332
2,352
2,367

2,387
2,357
2,337
2,308
2,296
2,314
2,334
2,322
2.335
2,386
2,521
2,395

2,349
2,305
2,330
2,350
2,356
2,392
2,417
2.392
2,397
2,407
2,433
2,415

Month

1919

January
February ._
March
April
May
June.
July
August
September
October
November
December

Backfigures.—SeeAnnual Report for 1929 (Table 47).
No.

50.—ALL

MEMBER

B A N K S — B O R R O W I N G S AT F E D E R A L

RESERVE

BANKS,

BY M O N T H S , 1914-1930
[Monthly averages of daily figures. In millions of dollars]
1914

Month

1915

1916

January
February._
March
April
May
June
July
_.
August
SeptemberOctober
November.
December..

1917
21
18
19
25
43
155
151
134
181
320
563

Month
January __
February-.
March
April
May
June
July
August
September
October—
November.
December.

1922
962
769
638
572
479
437
425
396
417
486
623
660

1923
547
608
628
658
705
741
845
873
799
771

1924
574
514
476
489
433
370
315
268
262
240
228
301

1925
267
340
390
403
397
437
480
545
594
619
597

1926
520
526
557
537
511
473
549
555
640
663
615

1918

1919

612
529
537
751
897
939
1,162
1,333
1,604
1,683
1,760
1,765

1,731
1,765
1,863
1,920
1,976
1,840
1,864
1,798
1,776
2,068
2,140
2,115

2,136
2,297
2,377
2,431
2,536
2,456
2,513
2,596
2,667
2,780
2,762
2,718

1927

1928

1921

1920

1929

481
393
425
447
473
429
454
409
422
424
415
529

465
471
513
661
836
1,019
1,090
1,061
1,064
975
897
1,013

2,523
2,400
2,297
2,129
1,959
1,811
1,719
1,548
1,442
1,371
1,228
1,180

1930

859

501
378
274
231
247
251
226
214
]89
196
221
338

1,004
956
978
1,096
1,043
969
885
953
803
I

NOTE.—Figures include a small amount of borrowing by Mermediate credit banks, etc. (See Table 13.)




98

ANNUAL REPORT OF THE

FEDERAL RESERVE

BOARD

REPORTING MEMBER BANKS IN LEADING CITIES
No.

51.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, R E S E R V E S , AND B O R R O W I N G S AT F E D E R A L R E S E R V E B A N K S , 1919-1930.
[Monthly averages of weekly figures. In millions of dollars. 1930 basis]
1924

1920

Month
Loans and investments:
January
February. _
March
April
May
June
July
August
September.
October
November.
December..

14,228
14,307
14,628
14,609
14,936
15,019
14,863
15, 264
15,627
16,011
16,193
16,387

16,682
16,652
16,853
16,983
16,992
16,971
16, 921
16,907
17,057
17,192
16,868
16,737

16,447
16,176
16, 066
15,778
15,511
15,364
15,065
14,921
14,902
14,9421
14,837|
14,842|

Total loans:
January
February. _
March
April
May
June
July
August....
September.
October...
November.
December..

9, 925
9,765
9,825
9,846
10,026'
10,656
10,806
10, 973
11,342
11,901
12,193
12,412

12, 743
12,888
13, 242
13,344
13,352
13,426
13,507
13,518
13,691
13,896
13,578
13,428

!
13,167!
12,928!
12, 785;
12, 506
12,272,
12,036
11, 853
11,689
11,6721
11,664'
11,494!
11,420]

4,737
4,504
4,454
4,390
4,303
4,249
4,181
4,087
4,111
4,155
4,072
4,111
8,006'
8,384
8,788
8,954
9,050
9,177
9,326
9,431
9,580
9,741
9,507
9,317

Loans on securities:
January
February-March
April
May
June
July
August
September.
October
November.
December.
All other loans:
January....
February..
March
April
May
June
July
August
September
October
November
December. J
Investments: !
January
i
February.-!
March
'
April
May
i
June
I
July
August
September .
October
November _
December..
1

C1)
01
C1)
C)
0)
0)
0)

8

0)
0)
4,703
0)
C1)
C1)
C1)
C1)

8
0)
0)
0)
0)
7,710
4,303
4,542
4,803
4,763
4,910
4,363
4,05'
4,290
4,285
4,110
4,000
3, 9751

3,939
3,764
3,611
3,639
3,640
3,546
3,414
3,390
3,366
3,296
3, 290|
3, 308i

Not available.




1925

1926

1927

1929

1930

14,694
14,688
14,617
14,688
14, 968
15,242
15,254
15,373
15,446
15,732
15,816
16,006

16,233
16,226
16,a68
16,443
16, 487
16,428
16,404
16, 201
16,305
16,381
16,287
16,318

16,321
16, 319
16,443
16,565
16,618
16,816
17,131
17,446
17, 757
18, 217
18,357
18,465

18,502
18,439
18,523
18,554
18,527
18,641
18,722
18, 775
18, 978
19, 239
19,331
19,413

19,358
19,323
19,420
19,392
19,502
19,596
19,561
19,594.
19,775
19,784
19,673
19,742

19,686
19,558
19,989
20,068
20,273
20,506
20,404
20,357
20,653i
20,918|
21,112!
21,328!

21,493
21,315
21,502
21,944
22,148
22,063
22,006
21,809
21,871
21,938
21,983
22,189

22,320
22, 263
22,472
22,388
22,113
22, 231
22,479
22,465
22,646
23,124
23,663
23,012

22,368
22,083
22,352
22,657
22,662
23, 024
23,101
23,128
23,220
23,409
23,455
23,117

11,204
11,025
1.1,034
11,002
11,045
11,024
10,9591
10,942j
11,066!
11,3421
11,400
11,4451
I

11,560
11,597
11,796
11,919
12,002
11,905
11,912
11,792
11,930
12,029
11,975
11, 985

11,988
12,004
12,138
12, 212
12,172
12, 249
12,400
12,594
12, 725
12,955
12,969
13,087

13,179
13,232
13,320
13,297
13,294
13,375
13,474
13,557
13,797
14,057
14,181
14,248

14,200
14,140
14,172
14,140
14,160
14,235
14, 241
14,313
14,498
14,555
14,487
14,578

14,538
14,347'
14,536
14,564
14,666
14,849
14,781
14,825
15,066
15,258
15,308
15,396

15,441
15,223
15,370
15,805
15,960
15,871
15,892
15,825
15,898
16,003
16,096
16,253

16,300
16, 260
16,491
16,464
16, 277
16, 480
16, 950
16,969!
17,197|
17,706|
18,041|
17,444

16,821
16, 542
16, 746
16, 901
16,825
17, 048
16,906
16, 838
16,859
16, 834
16,673
16, 332

4,036!
3,9611
3, 921
3.849j
3,842;
3,805
3,740
3,670
3,667
3,717
3,721
3,765

3,711
3,666
3,641|
3,657
3,825
3,909
3,895
3,862
3,908
4,060
4,103
4,123

4,194
4,119
4,116
4,173
4,220
4,157
4,150
3,994
4,028
4,052
4,056
4,142

4,252
4,173
4,181
4,218
4,221
4,310
4,479
4,582
4,675
4,726
4,740
4,917

5,008
5,056
5,122
5,098
5,167
5,289
5,370
5,377
5,447
5,558
5,696
5,843

5,874
5,767
5,652
5,576
5,592
5,693
5,743
5,771
5,847
5,741
5,633
5,771

5,915
5,780
5,867
5,930
6,017
6,220
6,191
6,201
6,298
6,403
6,492
6,676

6,811
6,606
6,586
6,924
7,075
6,962
6,955
6,816
6,840
6,874
7,082
7,198

7,506j
7,522
7,580
7,392
7,218
7,332
7,716
7,578
7,654
8,098
8,249
7,968

7,794
7,671
7,964
8,270
8,312
8,560
8,391

9,131
8,967

7,493
*T,359
7,393
7,345
7,219
7,115
7,064
7,080
7,158
7,282
7,297
7,322

7,366
7,477
7,680
7,746
7,781
7,748
7,761
7,798
7,903
7,977
7,920
7~~

7,736
7,831
7,956
7,994
7,951
7,939
7,921
8,012
8,049
8,229
8,229
8,170

8,170
8,176
8,198
8,199
8,127
8,085
8,103
8,180
8,349
8,500
8,485
8,405

8,326
8,373
8,521
8,564
8,568
8,541
8,498
8,542
8,652
8,814
8,854
8,807

8,623
8,566
8,670
8,634
8,649
8,628
8,590
8,624
8,768
8,855
8,816
8,720

8,631
8,617
8,784
8,884
8,909
8,937
9,009
9,059
9,130
9,014
9,055

8,794
8,737
8,911
9,073
9,059
9,149
9,234
9,390
9,543
9,608
9,792
9,476

9,027
8,871
8,781
8,631
8,513
8,487
8,515
8,488
8,476
8,597
8,776
8,557

3,490
3,663
3,583
3,686
3,923
4,218
4,295
4,431
4,379
4,390
4,416
4,561

4,673
4,629
4,572
4,523
4,485
4,522
4,492
4,409
4,375
4,352
4,312
4,333

4,333
4,315
4,306
4,352
4,445
4,567
4,731
4,851
5,032
5,262
5,389
5,378

5,323
5,206
5,204
5,258
5,233
5,266
5,248
5,217
5,181
5,181
5,151
5,165

5,158
5,182
5,248
5,252
5,342
5,362
5,320
5,281
5,277
5,228
5,186
5,165

5,148
5,212
5,453
5,504
5,608
5,658
5,623
5,531
5,587
5,660
5,804
5,932

6,052
6,091
6,133
6,140
6,188
6,193
6,114
5,984
5,973
5,934
5,888
5,936

6,021
6,004
5,981
5,924
5,836
5,751
5,529
5,496
5,449
5,418
5,623
5, 567!

5,548
5,541
5,607
5,756
5,837
5,977
6,194
6,291
6,361
6,575
6,782
6,784

8,657
8,430
8,232
8,113
8,018
8,005
7,947
7,773
7,655

8,383
8,237
7,897
7,776

99

REPORTING MEMBER BANKS IN LEADING CITIES

No. 51.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, R E SERVES, AND BORROWINGS AT FEDERAL RESERVE BANKS, 1919-1930—Con.
[Monthly averages of weekly figures. In millions of dollars. 1930 basis]
Month

1919

1920

1921 1922 1923 1924

N e t demand
plus time deposits:
January
February..
March
April
May
June
July
August
September.
October
November.
December. .

11,667
11,573
11,819
11,876
12,199
12,165
12,408
12, 728
12,975
13,261
13,617
13, 567

14,038
14,021
14,200
14,183|
14,1821
14,208
14,200
14,059
14,093
14,100
13,861
13,666

13,766
13,527
13,356
13,161
13,221
13,144
12,976
12,857
12,901
13,093
13,236
13,256

13,409
13,339
13,529
13, 766
14,170
14,487
14,627
14,602
14,680
14,852
14, 796
14,866

15,312
15,294
15,212
15,204
15,230
15,196
15,204
14,973
15,026
15,155
15,228
15,210

15,434
15,450
15,509
15,577
15, 759
16,164
16,603
16,967
17,262
17,689
17,945
18,039

18,094
17,977
17,872
17,828
17,913
18,007
18,119
18,049
18,122
18,386
18,558
18,530

18, 597
18,468
18,414
18,392
18,544
18, 715
18,677
18,641
18,746
18,727
18,690
18,800

18,921
18,771
19,023
19,054
19,292
19,577
19,483
19,504
19,609
19,757
20,112
20,291

20,542
20,286
20,268
20,576
20,652
20,373
20,107
19,733
19,880
20,059
20,217
20,241

20,487
20,270
20,127
19,869
19,768
19,740
19,918
19,848
19,990
20,472
21,131
20,501

20, 096
19, 835
20,067
20,460
20, 511
20,842
21,078
21,050
21,093
21,284
21,452
21,060

10,055
9,915
10,122
10,142
10,446
10,400
10,611
10,807
10,991
11,147
11,337
11,251

11, 581
11,487
11,605
11,551
11,511
11,504
11,471
11,304
11,291
11,271
11,030
10,828

10,821
10,588
10,409
10,206
10,199
10,187
10,042
9,927
9,958
10,112
10,215
10,247

10,367
10,280
10,391
10,587
10,919
11,138
11,113
11,007
11,076
11,228
11,121
11,146

11,561
11, 522
11,284
11,214
11,222
11,176
11,198
10,968

13,203
13,020
12,866

10,991
11,107
11,170
11,127

11,299
11,273
11,282
11,299
11,424
11,773
12,114
12,396
12,630
12,937
13,080
13,184

12, 742
12, 742
12,805
12,922
12,831
12,892
13,085
13,185
13,173

13,195
13,019
12,917
12,830
12,953
13,074
12,964
12,900
13,024
13,015
12,938
13,032

13,067
12,883
13,034
13,033
13,179
13,414
13,306
13,276
13,340
13,412
13, 703
lg, 872

13,982
13,673
13, 579
13,814
13,760
13,450
13,246
12,902
13,049
13,216
13,369
13,399

13, 593
13,391
13,288
13,076
12,992
13,001
13,245
13,120
13,180
13,633
14,363
13,774

13, 224
12,974
13,093
13, 391
13, 393
13,631
13, 720
13, 651
13,622
13, 735
13,934
13,839

1,612
1,658
1,697
1,734
1,753
1,765
l f 797
1,921
1,""'
2,114
2,280
2,316

2,457
2,534
2,595
2,632
2,671
2,704
2,729
2,755
2,802
2,829
2,831
2,838

2,945
2,939
2,947
2,955
3,022
2,957
2,934
2,930
2,943
2,981
3,021
3,009

3,042
3,059
3,138
3,179
3,251
3,349
3,514
3,595
3,604
3,624
3,675
3,720

3,751
3,772
3,928
3,990
4,008
4,020
4,006
4,005
4,035
4,048
4,058
4,083

4,135
4,177
4,227
4,278
4,335
4,391
4,489
4,571
4,632
4,752
4,865
4,855

4,891
4,957
5,006
5,086
5,171
5,202
5,197
5,218
5,230
5,301
5,373
5,357

5,402
5,449
5,497
5,562
5,591
5,641
5,713
5,741
5,722
5,712
5,752
5,768

5,854
5,888
5,989
6,021
6,113
6,163
6,177
6,228
6,269
6,345
6,409
6,419

6,560
6,613
6,689
6,762
6,892
6,861
6,831
6,831
6,843
6,848
6,842

6,879
6,839
6,793
6,776
6,739
6,673
6,728
6,810
6,839
6,768
6,72'

6,872
6,861
6,974
7,069
7,118
7,211
7,358
7,399
7,471
7,549
7,518
7,221

1,295
1,240|
1,260
1,271
1,295
1, 2881
1,306|
1, 336
1,327!
1,383
1,426
1"~

1,431
1,406
1,411
1,420
1,402
1,402
1,405
1,375
1,384
1,370
1,334
1,330

1,330
1,305
1,273
1,254
1,256
1,296
1,241
1,212
1,224

1,289
1,299
1,318
1,324
1,381
1,405
1,414
1,370
1,35"
1, 2461 1,412
1,258 1,379
1,266 1,383

1,44'
1,434
1,404
1,397
1,408
1,400
1,402
1,366
1,360
1,381
1,382
1,382

1,433
1,407
1,435
1,439
1,449
1,539
1,558
1,595
1,645
1,644
1,638
1,691

1,663
1,656
1,627
1,608
1,612
1,622
1,627
1,640
1,639
l,65f
1,66'
1,685

1,672 1,672
1,652 1,639
1,649 1,665
1,639 1,653
1,647 1,691
1,664 1,744
1,649 1,690
1,640 1,702
1,674 1,703
1,627 1,719
1,631 1,761
1,680 1,781

1,799
1,758
1,726
1,783
1,771
1,740
1,723
1,672
1,699
1,707
1,714
1,748

1,77
1,734
1,715
1,672
1,666
1,672
1,703
1,""
1,703
1, 775|
1,869!
1,743

1,718
1,704
1,697
1,740
1,745
1,781
1,813
1,791
1,813
1,824
1,829
1,834

1,306
1,400
1,449
1,443
1,497
1,361
1,454
1,395
1,:
1,660
1,765
1,739

1,803
2,019
2,053
2,069
2,085
1,981
2,005
2,072
2,117
2,222
2,200
2,13:

1,947
1,878
1,792
1,601
1,421
1,267
1,167
996
906
854!
723
697

514
374
264
215
161
130
151
115
145
2401
376!
392

343
402
41'
420
455
466
552
516
545
585
505
502

34'
285
245
258
185
131
89
61
83
86
75
145

108
218
234
229
191
238
264
351
403
437
411
491

314
338
362
488
644
796
854
806
822
736
681
799

663
659|
740!
7251
661
670
801
717
706|
634
655
490

247
174
81
71
59
53
53
43
44
56
71
141

Net demand
deposits:
January
February. _
March
April
May
June
July
August
September.
October
November.
December..
Time deposits:
January
February. March
April
May
June
July
August
September.
October....
November.
DecemberReserve balances:
January
February..
March
April
May
June
July
August
September.
October
November.
December.
Borrowings at
Federal reserve banks:
January
February..
March
April
May
June
July
August
September,
October...
November
December.




I

1925 1926 1927 1928 1929 1930

i

318
351
372
329
290
252
315
335
428
440
422
44'

299
233
268
270
302
268
272
256
26'
283
276
388

100

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 52.—REPORTING MEMBER BANKS 1 —PRINCIPAL
[In millions of dollars]

Date or month

1927
Jan. 5
Jan. 12
Jan. 19...
Jan. 26
Feb. 2
Feb. 9
Feb. 16
Feb. 23
Mar. 2—
—Mar. 9
Mar. 16
Mar. 23
Mar. 30—
—
Apr. 6
Apr. 13
Apr. 20.Apr. 27
May 4
May 11
May 18._
May 25
June 1
June 8
June 15
June 22
June 29
July 6
July 13
July 20
July 27
Aug. 3
Aug. 10.—
Aug. 17-—
Aug. 24..
Aug. 3 1 Sept. 7-..
Sept. 14
Sept. 21
Sept. 28
Oct. 5-_
Oct. 12.
Oct. 19
Oct. 26
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov. 30.—
Dec. 7
Dec. 14
Dec. 21
Dec. 28
Monthly averages:
January
February
March
April
May
June
July
August
September
October
November
December

Total
loans
and
investments

Investment 3

Loans
Total

On secu- All other
rities

Total

U.S.
Other
securities securities

19,865
19,754
19,586
19,541
19,592
19,528
19,538
19, 576
19, 779
19,775
20,171
20.116
20,105
20,114
20, 036
20, 015
20,106
20, 245
20, 234
20, 316
20,298
20,432
20,365
20,642
20, 503
20, 589
20, 584
20,370
20,332
20,331
20,346
20,384
20,347
20, 271
20,436
20,426
20, 614
20, 761
20,812
20,952
20, 912
20,936
20,871
20,886
20,963
21,204
21,208
21,298
21,250
21.267
21,387
21,409

14,750
14,588
14,442
14,374
14,411
14,333
14.309
14,334
14,489
14,477
14, 584
14, 567
14, 565
14,607
14, 556
14, 526
14, 564
14, 695
14,659
14, 669
14,639
14,838
14,792
14,853
14,829
14,931
14,925
14, 742
14,734
14, 726
14, 794
14,835
14,831
14,763
14,903
14,902
15,071
15,121
15,169
15,302
15,251
15, 262
15. 218
15,233
15,288
15,324
15,309
15,386
15,350
15,353
15,408
15,476

6,086
5,933
5,841
5,801
5,849
5.758
5,751
5,764
5,858
5,817
5,888
5,860
5,910
5,932
5,891
5,918
5,978
6,044
5,981
6,039
6,003
6,204
6,179
6,230
6,210
6,279
6,291
6,152
6,148
6,175
6,213
6,202
6,206
6,157
6,229
6,208
6,315
6,300
6,367
6,457
6,375
6,381
6,401
6,418
6,422
6,528
6.507
6,585
6,580
6,621
6,705
6,798

8,664
8,655
8,601
8,573
8,562
8,576
8,558
8,570
8,631
8,660
8,697
8,707
8,655
8,675
8,665
8,608
8,587
8,651
8,678
8,630
8,636
8,634
8,612
8,623
8,619
8,653
8,634
8,590
8,585
8,551
8,582
8,633
8,625
8,606
8,674
8,694
8,757
8,821
8,801
8,845
8,877
8,881
8,817
8,815
8,865
8,796
8,802
8,801
8.770
8,731
8,703
8,677

5,114
5,166
5,145
5,167
5,181
5,194
5,228
5,242
5,290
5,298
5,587
5,548
5,540
5,506
5,479
5,489
5,542
5,550
5,575
5,647
5,660
5,594
5,573
5,789
5,674
5,658
5,659
5,628
5,598
5,605
5,552
5,549
5,516
5,508
5,532
5,524
5,542
5,640
5,643
5,650
5,661
5,674
5,654
5,652
5,675
5,880
5,899
5,912
5,900
5,914
5,979
5,934

2,309
2,330
2,350
2,366
2,362
2,370
2,383
2,380
2,396
2,394
2,658
2,588
2,555
2,566
2.547
2,554
2,595
2,610
2,639
2.659
2,640
2,533
2,538
2,713
2,599
2,570
2,561
2,552
2.551
2,549
2,516
2,510
2,494
2,492
2,500
2,485
2,495
2,596
2,607
2,610
2,617
2,627
2,614
2,590
2,585
2,779
2,797
2,800
2,803
2,811
2,866
2,802

2,806
2,837
2,795
2,801
2,819
2,824
2.845
2,862
2,894
2,904
2,929
2,961
2,985
2,941
2,933
2,935
2,947
2,939
2,936
2,988
3,020
3,061
3,035
3,076
3,076
3,088
3,098
3,076
3,047
3,056
3,035
3,038
3,023
3,016
3,033
3,039
3,047
3,043
3,036
3,040
3,044
3,047
3,040
3,062
3,091
3,101
3,102
3,112
3,097
3,103
3,114
3,132

19,686
19, 558
19,989
20,068
20,273
20,506
20.404
20, 357
20, 653
20,918
21,112
21,328

14,538
14,347
14,536
14,564
14,666
14,849
14, 781
14,825
15,066
15, 258
15,308
15, 396

5,915
5,780
5,867
5,930
6,017
6,220
6,191
6,201
6.298
6,403
6,492
6,676

8,623
8,566
8,670
8,634
8,649
8,628
8,590
8,624
8,768
8,855
8,816
8,720

5,148
5,212
5,453
5,504
5,608
5,658
5,623
5,531
5,587
5,660
5,804
5,932

2,339
2,374
2,518
2,565
2,637
2,591
2,553
2,502
2,546
2,617
2,710
2,820

2,809
2,838
2,935
2,939
2,971
3,067
3,069
3,029
3,041
3,043
3,094
3,111

i Comparable weeklyfiguresfor earlier years are available back to 1919, but have not been published;
they may be had on request.




REPORTING MEMBER BANKS IN LEADING CITIES
RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930
[In millions of dollars]
Net demand plus time deposits

Reserve
with
Federal
reserve
banks

Cash in

1,744
1,677
1,666
1,600
1,646
1,630
1,695
1,583
1,636
1,629
1,676
1,706
1,680
1,624
1,670
1,646
1,673
1,718
1,669
1,695
1,681
1,720
1,730
1,810
1,712
1,746
1,686
1,704
1,699
1,671
1,740
1,708
1,662
1,708
1,691
1,699
1,699
1,699
1,717
1,707
1,699
1,748
1,724
1,727
1,750
1,819
1,753
1,755
1,763
1,780
1,774
1,808

306
295
270
267
257
270
253
281
255
268
252
260
263
262
269
259
263
260
265
257
259
259
268
254
257
269
276
271
254
258
252
257
248
253
252
268
270
259
259
262
267
263
266
257
286
262
279
276
288
313
338
316

19,055
19,039
18,863
18,725
18,818
18,719
18,806
18,740
18,960
18,931
19,201
19,040
18,983
19,026
19,059
19,036
19,097
19,228
19,287
19,346
19,308
19,541
19,510
19,866
19,409
19,560
19,568
19,514
19,433
19,416
19,488
19,563
19,499
19,384
19,587
19,574
19,818
19,601
19,544
19,742
19,755
19,791
19,739
19,807
19,939
20,189
20,197
20,428
20,320
20,399
20,241
20,201

13,210
13,175
13,015
12,867
12,958
12,844
12,924
12,804
12,965
12,923
13,224
13,062
12,996
13,034
13,048
13,021
13,030
13,147
13,185
13,203
13,180
13,407
13,336
13,715
13,243
13,369
13,387
13,346
13,264
13,225
13,278
13,332
13,270
13,153
13,346
13,326
13,554
13,233
13,245
13,407
13,401
13,444
13,396
13,473
13,548
13,779
13,743
13,970
13,919
14,000
13,809
13,757

1,672
1,639
1,665
1,653
1,691
1,744
1,690
1,702
1,703
1,719
1,761
1,781

284
265
260
263
260
261
265
252
264
265
272
314

18,921
18,771
19,023
19,054
19,292
19,577
19,483
19,504
19,609
19,757
20,112
20,291

13,067
12,883
13,034
13,033
13,179
13,414
13,306
13,276
13,340
13,412
13,703
13,872

Total




Net demand

Government
deposits

Borrowings at
Federal
reserve
banks

5,845
5,864
5,848
5,858
5,860
5,875
5,882
5,936
5,995
6,008
5,977
5,978
5,987
5,992
6,011
6,015
6,067
6,081
6,102
6,143
6,128
6,134
6,174
6,151
6,166
6,191
6,181
6,168
6,169
6,191
6,210
6,231
6,229
6,231
6,241
6,248
6,264
6,268
6,299
6,335
6,354
6,347
6,343
6,334
6,391
6,410
6,454
6,458
6,401
6,399
6,432
6,444

156
120
120
120
120
102
102
104
103
92
344
313
303
282
260
176
166
156
129
95
91
74
44
209
200
162
132
107
95
96
88
53
40
40
40
8
8
352
352
336
337
252
194
179
120
315
111
11
6
7
192
192

446
305
248
197
222
223
242
243
279
266
190
309
296
252
280
263
286
356
288
305
260
329
241
198
269
306
342
265
246
233
285
261
236
257
240
295
224
270
278
320
286
271
254
232
310
233
274
331
304
353
432
463

5,854
5,888
5,989
6,021
6,113
6,163
6,177
6,228
6,269
6,345
6,409
6,419

129
107
231
221
118
138
108
52
180
280
147
99

299
233
268
270
302
268
272
256
267
283
276
388

Time

Date or month

Jan. 5.
Jan. 12.

1927

Jan. 19.

Jan. 26.
Feb. 2.
Feb. 9.
Feb. 16.
Feb. 23.
Mar. 2.
Mar. 9.
Mar. 16.
Mar. 23.
Mar, 30.
Apr. 6.
Apr. 13.
Apr. 20.
Apr. 2T.
May 4.
May 11.
May 18.
May 25.
June 1.
June 8.
June 15.
June 22.
June 29.
July 6.
July 13.
July 20.
July 27.
Aug. 3.
Aug. 10.
Aug. 17.
Aug. 24.
Aug. 31.
Sept. 7.
Sept. 14.
Sept. 21.
Sept. 28.
Oct. 5.
Oct. 12.
Oct. 19.
Oct. 26.
Nov. 2.
Nov. 9.
Nov. 16.
Nov. 23.
Nov. 30.
Dec. 7.
Dec. 14.
Dec. 21.
Dec. 28.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

101

102

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 52.—REPORTING MEMBER BANKS—PRINCIPAL
[In millions of dollars]

Date or month

1928
Jan. 4 . .
Jan. 11
Jan. 18
Jan. 25
Feb. 1
Feb. 8__
Feb. 15..
Feb. 21
Feb. 29
Mar. 7
Mar. 14
Mar. 21..._
Mar. 28.
Apr. 4 — Apr. l l . _ Apr. 18
Apr. 2 5 May 2—_
May 9
May 1 6 May 23.
May 29
June 6--.
--June 13
June 20
_.
June 27
July 3
July 11
July 18
-—
July 25
Aug. 1
Aug. 8—
Aug. 15
Aug. 2 2 , . . .
Aug. 29
.._
Sept. 5
Sept. 12
Sept. 19
Sept. 26
Oct. 3
Oct. 10
Oct. 17
Oct. 24
_
Oct. 31
Nov. 7.
Nov. 14
Nov. 21
Nov. 28
Dec. 5 . - - .
Dec. 12
Dec. 19
Dec. 26
Monthly average:
January. _
February
March
April..
May.
June
July
August
September
October
November
December




Total
loans
and
investments

Loans
Total

On se-

curities

21,629
21,548
21,447
21,348
21,419
21,333
21,292
21,200
21,328
21,309
21,494
21,555
21,651
21,972
21,930
21,958
21,918
22,162
22,122
22,171
22,124
22,160
22,085
22,115
22,049
22,005
22,314
22,032
21,890
21,790
22,030
21,846
21,765
21,686
21,716
21,833
21, 787
21,980
21,884
21,926
21,838
21.972
21, 924
22,028
21,991
21,875
21.973
22,094
22,190
22,068
22,233
22,264

15,674
15,487
15,372
15,232
15,316
15,247
15,208
15,125
15,221
15,231
15,407
15,350
15,491
15,831
15,808
15,808
15, 771
15,997
15,947
15,990
15,911
15, 954
15,910
15,933
15,834
15,806
16,143
15,892
15.796
15, 737
15,917
15,863
15.797
15,756
15,791
15,906
15,879
15,941
15,868
16,011
15, 967
15.989
15,972
16,077
16,096
15.990
16,097
16,200
16,291
16,188
16,248
16,284

7,022
6,806
6,742
6,673
6,769
6,634
6,566
6,510
6,554
6,510
6,614
6,545
6,675
6,953
6,875
6,920
6,949
7,092
7,048
7,106
7,035
7,097
7,052
6,997
6,911
6,888
7,151
7,003
6,854
6,815
6,954
6,860
6,781
6,745
6,740
6,860
6,814
6,874
6,811
6,865
6,807
6,856
6,882
6,958
7,031
6,947
7,104
7,246
7,282
7,150
7,129
7,230

21,493
21,315
21,502
21,944
22,148
22,063
22,006
21,809
21,871
21,938
21,983
22,189

15,441
15,223
15,370
15,805
15,960
15,871
15,892
15,825
15,898
16,003
16,096
16,253

6,811
6,606
6,586
6,924
7,075
6,962
6,955
6,816
6,840
6,874
7,082
7,198

Investments

All other

8,652
8,682
8,630
8,559
8,547
8,614
8,642
8,615
8,721
8,793
8,805
8,815
8,878
8,933
8,888
8,904
8,899
8,885
8,877
8,857
8,859
8,936
8,922
8,918
8,992
8,889
8,943
8,922
8,963
9,003
9,016
9,011
9,051
9,046
9,065
9,066
9,058
9,147
9,160
9,133
9,089
9,119
9,065
9,043
8,993
8,954
9,009
9,038
9,119
9,054
8,631
8,617
8,784
8,937
9,009
9,059
9,130
9,014
9,055

Total

5,955
6,061
6,075
6,116
6,103
6,084
6,075
6,107
6,078
6,088
6,205
6,160
6,141
6,122
6,149
6,147
6,166
6,174
6,181
6,213
6,206
6,175
6,182
6,215
6,199
6,170
6,140
6,094
6,054
6,113
5,968
5,930
5,925
5,927
5,908
6,039
6,016
5,914
5,871
5,983
5,953
5,951
5,895
5,885
5,876
5,894
5,899
5,880
5,985
6,052
6,091
6,133
6,140
6,188
6,193
6,114
5,984
5,973
5,934
5,888
5,936

TJ. S. se- Other securities curities

2,824
2,923
2,965
3,021
3,018
3,010
2,998
2,985
2,945
2,935
2,924
3,030
2,972
2,980
3,001
2,999
3,021
3,022
3,014
3,029
2,994
3,010
3,011
3,045
3,014
3,007
3,005
2,980
2,952
3,036
2,935
2,919
2,904
2,903
2,921
2,922
3,056
3,027
2,987
2,975
3,076
3,055
3,027
3,009
2,993
2,972
2,977
2,978
2,961
3,059
3,051

3,131
3,138
3,110
3,095
3,085
3,075
3,087
3,091
3,161
3,143
3,164
3,175
3,175
3,170
3,142
3,148
3,148
3,145
3,152
3,167
3,184
3,212
3,164
3,171
3,170
3,185
3,164
3,135
3,114
3,102
3,077
3,047
3,049
3,026
3,022
3,007
2,986
2,984
2,989
2,927
2,896
2,907
2,898
2,924
2,886
2,892
2,904
2,917
2,921
2,919
2,926
2,929

2,933
2,991
2,969
2,988
3,016
3,020
2,986
2,940
2,981
3,024
2,988
3,013

3,119
3,100
3,164
3,152
3,172
3,173
3,129
3,044
2,991
2,910
2,900
2,924

REPORTING MEMBER BANKS IN LEADING CITIES
RESOURCES AND LIABILITIES, BY W E E K S , 1927-1930—Continued
[In millions of dollars]
Reserve
with
Federal
reserve
banks

Net demand plus time deposits
Cash in

Total

Time

Borrowings at
Federal
reserve
banks

250
261
243
240
234
243
236
245
246
247
253
245
248
248
267
248
252
249
269
265
253
268
269
289
313
326

20, 542
20,609
20,206
20,134
20,438
20,183
19,976
19,831
19,985
19, 662
19,741
19,608
19, 668
19,847
19,968
19,876
19,830
20,006
19,991
20,100
20,010
20,190
20,151
20,219
20,245
20,254
20, 342
20,325
20,167
20,130

14,176
14,077
13,924
13,749
13,855
13, 655
13, 692
13,470
13,693
13, 618
13, 773
13,431
13,492
13,825
13,871
13,855
13,707
13,910
13,808
13,840
13,644
13, 598
13, 625
13, 681
13,290
13,204
13, 534
13, 297
13,146
13,007
13,145
12,838
12,910
12, 785
12,829
13, 019
13,151
13,045
12,981
13,182
13,158
13,252
13,165
13,325
13, 305
13,367
13, 396
13,408
13,511
13,498
13, 322
13, 266

6,538
6,554
6,560
6,587
6,594
6,626
6,621
6,606
6,617
6,638
6,663
6,712
6,743
6,731
6,748
6,766
6,803
6,835
6,887
6,898
6,911
6,930
6,917
6,928
6,916
6,930
6,904
6,886
6,830
6,824
6,840
6,824
6,831
6,823
6,839
6,828
6,817
6,831
6,849
6,824
6,833
6,848
6,845
6,865
6,846
6,852
6,849
6,846
6,831
6,827
6,845
6,864

211
203
163
122
93
72
245
194
185
148
118
94
67
207
165
99
65
190
142
135
92
73
73
54
18
4
249
198

360
352
353
383
468
470
469
545
585
608
629
659
737
773
834
774
803
960
870
787
799
854
827
765
798
787
825
825
861
778
801
770
720
688
703
736
641
585
762
785
793
700
918

270
246
245
244
243
248
248
241
248
253
264
299

20, 542
20,286
20,268
20, 576
20,652
20,373
20,107
19,733
19,880
20,059
20,217
20,241

13,982
13,673
13, 579
13,814
13,760
13,450
13,246
12,902
13,049
13, 216
13,369
13, 399

6,560
6,613
6,689
6,762
6,892
6,923
6,861
6,831
6,831
6,843
6,848
6,842

115
45
146
198
61
107
113
178
133
126
73
117

314
338
362
488
644
796
854
806
822
736
681
799

1,773
1,801
1,760
1,797
1,809
1,797
1,754
1,752
1,742

294
282
255
248
238
251
254
245
242
248
248
242
242
244
249
239
242
240
248
235
245
246

20,714
20,631
20,484
20,336
20, 449
20, 281
20,313
20, 076
20,310
20,256
20,436
20,143
20, 235
20, 556
20,619
20,621
20, 510
20,745
20,695
20, 738
20, 555
20,528

1,756
1,758
1,714
1,732

247
254
243
249

1,780
1,741
1,687
1,683
1,731
1,650
1,665
1,661
1,654
1,659
1,722
1,730
1,685
1,708
1,682
1,717
1,689
1,738
1,699
1,715
1,717
1,725
1,722
1,783
1,709
1,776
1,799
1,758
1,726
1,783
1,771
1,740
1,723
1,672
1,699
1,707
1,714
1,748

1,846
1,826
1,798
1,728
1,777
1,773
1,755
1,737
1,749
1,737
1,730
1,701
1,738

Net
demand

Government
deposits

33454—31


164
124
89
81
77
43
35
35
34
10
10
281
281
273
235
169
117
109
72
50
38
37
14

392
313
291
261
299
339
360
336
355

Date or month

1928
Jan. 4.
Jan. 11.
Jan. 18.
Jan. 25.
Feb. 1.
Feb. 8.
Feb. 15.
Feb. 21.
Feb. 29.
Mar. 7.
Mar. 14.
Mar. 21.
Mar. 28.
Apr. 4.
Apr. 11.
Apr. 18.
Apr. 25.
May 2.
May 9.
May 16.
May 23.
May 29.
June 6.
June 13.
June 20.
June 27.
July 3.
July 11.
July 18.
July 25.
Aug. 1.
Aug. 8.
Aug. 15.
Aug. 22.
Aug. 29.
Sept. 5.
Sept. 12.
Sept. 19.
Sept. 26.
Oct. 3.
Oct. 10.
Oct. 17.
Oct. 24.
Oct. 31.
Nov. 7.
Nov. 14.
Nov. 21.
Nov. 28.
Dec. 5.
Dec. 12.
Dec. 19.
Dec. 26.
Monthly averages:
January.
February.
March.

April.
May.

June.
July.
August.
September.
October.
November.
December.

103

104

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 52.—REPORTING MEMBER BANKS—PRINCIPAL
[In millions of dollars]

Date or month

1929
Jan. 2 .
Jan. 9
-.
Jan.16
Jan. 23
- Jan. 30
Feb. 6
Feb. 13
Feb. 20
Feb. 27..
Mar. 6.
Mar. 13
'.
Mar. 20
Mar. 27...
Apr. 3
Apr. 10
Apr. 17
Apr. 24
-i---.
May 1
May8
May 15
May 22
May 29
June 5
June 12
_...
June 19
June 26

July3___.
July 10
July 17.—
July 24...
July 31...Aug. 7
Aug. 14
Aug. 21
Aug. 28
Sept. 4
Sept. 11
Sept. 18
Sept. 25
Oct. 2
Oct. 9
Oct. 16
Oct. 23
Oct. 30
Nov. 6
Nov. 13....
Nov. 20
Nov. 27
Dec. 4
Dec. 11
Dec. 18
Dec. 24..
Dec. 31
Monthly averages:
January
February
March April
May
June
July
August
September
October
November
December




Total
loans
and
investments

22,735
22,300
22,263
22,131
22.174
22,295
22, 240
22,180
22,338
22, 383
22, 382
22, 581
22, 543
22, 561
22,393
22, 340
22, 259
22, 313
22, 094
22,156
22,005
22,000
22,115
22,104
22, 298
22, 407
22, 485
22,434
22, 409
22, 459
22,606
22, 581
22,450
22,423
22,405
22, 591
22, 570
22,742
22,682
22,829
22,673
22,794
22,895
24,431
24,073
23,716
23,512
23,353
23,142
22,922
22,942
22,890
23,163
22,320
22,263
22,472
22,113
22,231
22,479
22,465
22,646
23,124
23,012

Investments

Loans

Total

On securities

Total

18,115
17.861
17,698
17,538
17.375
17,356
17,305
17,649

7,991
7,889
7,889
7,818
7,898
7,931
8,304

8,985
8,889
8,725
8,696
8,675
8,696
8,715
8,745
8,793
8,852
8,918
8,910
8,965
9,068
9,076
9,078
9,068
9,067
9,016
9,079
9,043
9,090
9,140
9,155
9,161
9,139
9,164
9,202
9,248
9,287
9,270
9,329
9,370
9,428
9,434
9,518
9,564
9,567
9,524
9,600
9,582
9,522
9,580
9,755
9,743
9,746
9,871
9,809
9,649
9,557
9,458
9,374
9,344

16,300
16,260
16,491
16,464
16,277
16,480
16,950
16,969
17,197
17,706
18,041
17,444

7,506
7,522
7,580
7,392
7,218
7,332
7,716
7,578
7,654
8,098
8,249
7,968

8,794
8,737
8,911
9,073
9,059
9,149
9,234
9,390
9,543
9,608
9,792
9,476

16,803
16,329
16.186
16,060
16,121

16,254
16, 230
16,189
16,366
16,425
16.430
16, 552
16, 557
16, 583
16,455
16.431
16,388
16,438
16, 257
16, 301
16.187
16,202
16,337
16, 364
16, 543
16, 678
16, 925
16.906
16, 892
16, 970
17,058
17,044
16,943
16,938
16,950
17,150
17,142
17,254
17,244
17, 428
17,269
17,397
17.500
18,934

7,818
7,440
7,461
7,364
7,446
7,558
7,515
7,444
7,573
7,573
7,511
7,642
7,592
7,516
7,380
7,353
7,319
7,371
7,241
7,221
7,144
7,112
7,197
7,209
7,382
7,539
7,761
7,704
7,644
7,683
7,787
7,715
7,573
7, 510
7,515
7,632
7,578
7,686
7,720

7,828
7,687
7,875
7,920
9,179
8.746

5,931
5,971
6,077
6,071
6,053
6,041
6,010
5,991
5,972
5,958
5,953

6,021
6,004
5,981
5,924
5,836
5,751
5,529
5,496
5,449
5,418

5,978
5,938
5,909
5,871
5,875
5,836
5,855
5,818
5,798
5,779
5,740
5,755
5,729
5,560
5,528
5,518
5,490
5,549
5,537
5,507
5,485
5,456
5,441
5,429
5,489
5,438
5,401
5,403
5,397
5,395
5,496
5,584
5,601
5,650
5,655
5,604
5,547
5,587
5,585
5,514

5,567

U.S.
Other
securities securities

3,007
3,050
3,120
3,116
3,101
3,103
3,084
3,067
3,042
3,058
3.036
3,113
3,086
3,075
3,024
3,020
3,002
2,997
2,979
2,972
2,951
2,916
2,906
2,935
2,895
2,759
2,740
2,742
2,723
2,747
2,732
2,734
2,723
2,707

2,699
2,694
2,719
2,680
2,660
2,656
2,652
2,654
2,682
2,750
2,748
2,784
2,808
2,755
2,719
2,743
2,710
2,593
3,079
3,074
3,073
3,030
2,959
2,913
2,742
2,724
2,661
2,772
2,704

2,925
2,921
2,957
2.954
2,952
2,938
2,926
2,925
2,930
2,901
2,917
2,915
2,900
2,902
2,914
2,890
2,868
2,878
2,858
2,883
2,867
2,902
2,862
2,835
2,820
2,834
2,800
2,789
2,775
2,766
2,802
2,805
2,774
2,762
2,748
2,741
2,735
2,770
2,757
2,741
2,747
2,745
2,740
2,814
2,834
2,854
2,867
2,847
2,849
2,828
2,844
2,876
2,921
2,942
2,930
2,908
2,893
2,878
2,838
2,787
2,772
2,751
2,757
2,850
2,864

REPORTING MEMBER BANKS IN LEADING CITIES
RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930—Continued

[In millions of dollars]
BorrowNet demand plus time deposits
Reserve
Govern- ings at
with
Cash in
ment
Federal
Federal
Net
reserve
deposits reserve
vault
Total
banks
demand Time
banks

261
280
296
291
262

20,895
20,504
20,496
20,251
20,288
20,306
20,384
20,126
20,266
20,179
20, 253
20,086
19,991
19,987
19,841
19,897
19,752
19,994
19, 757
19,934
19,699
19,556
19,700
19,817
19,664
19, 781
19,972
19,824
19,867
19,820
20,107
19,942
19,912
19,785
19,751
19, 992
20,082
19,984
19,901
20,120
19,843
20, 221
20,197
21,978
21,600
21,326
20,949
20, 650
20,436
20,474
20,378
20,312
20,905

13,983
13,608
13,611
13,366
13,395
13,415
13,505
13,259
13,387
13,308
13,398
13,281
13,164
13,157
13,052
13,118
12,977
13, 234
12,986
13,139
12,810
12,791
12,939
13,108
12,940
13,018
13,293
13,170
13,219
13,146
13,395
13,240
13,191
13,065
12,985
13,184
13.283
13,179
13,072
13,295
13,040
13,406
13,314
15,110
14,765
14,570
14,227
13,890
13,714
13,776
13,676
13,589
14,118

6,912
6,896
6,885
6,885
6,893
6,891
6,879
6,867
6,879
6,871
6,855
6,805
6,827
6,830
6,789
6,779
6,775
6,760
6,771
6,795
6,789
6,765
6,761
6,709
6,724
6,763
6,679
6,654
6,648
6,674
6,712
6,702
6,721
6,720
6,766
6,808
6,799
6,805
6,829
6,825
6,803
6,815
6,883
6,868
6,835
6,756
6,722
6,760
6,722
6,698
6,702
6,723
6,787

259
249
240
235
233
233
251
240
239
243
269
278

20,487
20,270
20,127
19,869
19,768
19,740
19,918
19,848
19,990
20,472
21,131
20, 501

13,593
13,391
13,288
13,076
12,992
13,001
13,245
13,120
13,180
13,633
14,363
13,774

6,894
6,879
6,839
6,793
6,776
6,739
6,673
6,728
6,810
6,839
6,768
6,727

1,859
1,765
1,771
1,730
1,759
1,751
1,740
1,700
1,746
1,716
1,726
1,715
1,706
1,688
1,672
1,671
1,658
1,702
1,682
1,682
1,647
1,617
1,679
1,682
1,657
1,670
1,724
1,677
1,699
1,710
1,707
1,675
1,674
1,650
1,663
1,675
1,707
1,721
1,708
1,727
1,686
1,747
1,725
1,990
1,904
1,952
1,875
1,744

292
271
242
244
244
237
261
253
246
238
245
235
243
240
238
227
235
223
237
227
235
242
238
236
227
232
243
275
256
243
236
241
245
236
238
240
246
236
236
230
248
230
238
269
276
277
259
265

1,766
1,747
1,774
1,703
1,726
1,777
1,734
1,715
1,672
1,666
1,672
1,703
1,665
1,703
1,775
1,869
1,743




167
111
90
83
84
50
43
43
36
6
6
305
305
289
258
165
148
143
108
105
99
99
58
46
260
260
193
154
152
88
85
49
44
44
37
11
227
227
227
209
159
131
127
83
77
58
50
33
27
113
92
82
107
43
155
215
111
156
134

44
116
171
67
69

930
655
598
554
580
619
669
637
712
756
716
711
779
766
706
729
698
703
684
626
614
680
663
628
674
715
826
850
790
771
767
770
726
687
685
761
702
673
688
672
612
605
554
729
730
688
597
603
580
493
468
502
405
663
659
740
725
661
670
801
717
706
634
655
490

Date or month

1929
Jan. 2.
Jan. 9.
Jan. 16.
Jan. 23.
Jan. 30.
Feb. 6.
Feb. 13.
Feb. 20.
Feb. 27.
Mar. 6.
Mar. 13.
Mar. 20.
Mar. 27.
Apr. 3.
Apr. 10.
Apr. 17
Apr. 24
May 1.
May 8
May 15.
May 22.
May 29.
June 5.
June 12.
June 19.
June 26.
July 3.
July 10.
July 17.
July 24.
July 31.
Aug. 7.
Aug. 14.
Aug. 21.
Aug. 28.
Sept. 4.
Sept. 11.
Sept. 18.
Sept. 25.
Oct. 2.
Oct. 9.
Oct. 16.
Oct. 23.
Oct. 30.
Nov. 6.
Nov. 13.
Nov. 20.
Nov. 27.
Dec. 4.
Dec. 11.
Dec. 18.
Dec. 24.
Dec. 31.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

105

106

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 52.—REPORTING MEMBER

BANKS—PRINCIPAL

[In millions of dollars]

Date or month

Jan. 8_—
Jan. 15....
Jan. 22...
Jan. 29...
Feb. 5 . . .
Feb. 12..
Feb. 19..
Feb. 26..
Mar. 5...
Mar. 12..
Mar. 19..
Mar. 26..
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7
May 14
May 21
May 28
June 4-_
June 11.
June 18.
June 25.

1930

July 2
July9
July 16
-_
July 23
July 30
Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22
Oct. 29
Nov. 5
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10
Dec. 17
Dec. 24
Dec. 31
Monthly averages:
January
February
March
April
May
June
July
August
September
October
November
December




Total
loans
and investments

Investments

Loans

Total

On secu- All other
rities

17,041
16, 858
16, 707
16, 676
16, 630
16, 593
16,519
16, 428
16, 547
16,704
16, 847
16,885
16,913
16,829
16,845
16,955
16,964
16,852
16, 806
16,806
16, 837
17,038
16,966
17,128
17,059

7,906
7,854
7,733
7,681
7,692
7,682
7,669
7,641
7,737
7,883
8,054
8,183
8,244
8,163
8,238
8,326
8,381
8,259
8,246
8,322
8,421
8,598
8,557
8,608
8,479

23, 080
22,987
23,106
23, 096
23,236
23,163
23, 092
23,136
23,122
23,168
23,165
23, 250
23, 297
23, 467
23, 297
23, 404
23, 383
23,495
23, 511
23, 435
23, 494
23, 381
23, 316
23, 242
23, 084
22, 985
22, 956

16,960
16,869
16,906
16,852
16,945
16,906
16, 857
16, 795
16, 793
16,830
16,812
16, 881
16,912

17,013
16, 813
16, 864
16, 716
16,764
16, 806
16,668
16, 690
16, 527
16,516
16, 426
16, 258
16, 200
16, 263

8,435
8, 359
8,397
8,372
8,391
8,409
8,349
8,289
8,350
8,357
8,324
8,396
8,454
8,476
8,260
8,250
8,135
8,065
8,085
7,904
7,838
7,761
7,769
7,769
7,747
7,779
7,814

9,134
9,005
8,974
8,995
8,938
8,911
8,850
8,787
8,810
8,821
8,793
8,702
8,669
8,666
8,607
8,629
8,583
8,593
8,560
8,484
8,416
8,441
8,409
8,520
8,580
8,525
8,509
8,508
8,480
8,554
8,497
8,507
8,507
8,443
8,473
8,488
8,484
8,458
8,538
8, 552
8,613
8,581
8,699
8,721
8,763
8,852
8,766
8,747
8,656
8,511
8,421
8,449

22, 368
22, 083
22, 352
22, 657
22, 662
23, 024
23,101
23,128
23, 220
23, 409
23. 455
23.117

16, 821
16, 542
16, 746
16, 901
16, 825
17,048
16,906
16, 838
16, 859
16, 834
16, 673
16, 332

7,794
7,671
7,964
8,270
8,312
8,560
8, 391
8,349
8,383
8,237
7,897
7,776

9,027
8,871
8,781
8,631
8,513
8,487
8,515
8,488
8,476
8,597
8, 776
8,557

22,600
22,412 r
22,256 I
'
22,205 |
22,132! I
22,106
22,090 I
22,003 j
i
22,101
22, 232
22, 514
22, 563
22,633
22.560
22,592
22,746
22, 753
22, 645
22,616
J 22,661
| 22,726
22,957
22,882 :
23,118
23,140

Total

U. S. se- Other securities curities

6,120
6,118
6,200
6,243
6,291
6,257
6,235
6,340
6,329
6,338
6,353
6,369
6,385
6,454
6,485
6,541
6,667
6,731
6,704
6, 767
6,804
6,854
6,800
6,816
6,827
6,785
6,693

2,692
2,724
2,737
2,722
2,725
2,744
2,808
2,801
2,766
2,753
2,861
2,844
2,848
2,838
2,849
2,873
2,852
2,837
2,831
2,842
2,811
2,799
2,776
2,849
2,877
2,851
2,861
2,915
2,930
2,932
2,877
2,860
2,922
2,909
2,910
2,915
2,932
2,933
2,946
2,970
2,996
3, 060
3,050
3,042
3,063
3,105
3,093
3,095
3,144
3,214
3,156
2, 992

2,867
2,830
2,812
2,807
2,778
2,769
2, 763
2,774
2,788
2,775
2,806
2,834
2,872
2,893
2,898
2,917
2,937
2,955
2,980
3,013
3,078
3,120
3,140
3,140
3,204
3,269
3,257
3,285
3,313
3,359
3,380
3,375
3,418
3,420
3,428
3,438
3,437
3,452
3,508
3, 515
3,544
3, 607
3,681
3,662
3,704
3, 699
3,761
3,706
3, 672
3,612
3,629
3,701

5,548
5,541
5,607
5,756
5,837
5,977
6,194
6,291
6, 361
6, 575
6,782
6, 784

2,719
2,770
2,806
2,852
2,830
2,825
2,898
2,892
2,923
3,004
3,076
3,120

2,829
2,771
2,801
2,903
3.006
3,151
3,297
3,398
3,439
3,571
3,707
3, 664

5,559
5,554
5,549
5,529
5,503
5,513
5,571
5,575
5,554
5,528
5,667
5,678
5,719
5,731
5,747
5,791
5,789
5,792
5,811
5,855
5,889
5,919
5,917
5,989
6,081

REPORTING MEMBER BANKS IN LEADING CITIES
RESOURCES AND LIABILITIES, BY W E E K S , 1927-1930—Continued
[In millions of dollars]

Reserve
with
Federal
reserve
banks

Net demand plus time
rtftnnsits
Cash in
vault
Total

Net demand

Government deposits

Borrowings at
Federal
reserve
banks

46
39
36
36
18
9
4
5

344
230
220
193
173
185
186
152

Jan. 8.
Jan. 15.
J a n . 22.
Jan. 29.
Feb. 5.
Feb. 12.
Feb. 19.
Feb. 26.

280
238
217
173
141
108
96
51
51
51
51
28
20
213
212

128
96
51
47
82
75
65
58
74
79
47
43
67
67
48
44
54

Mar. 5.
Mar. 12.
Mar. 19.
Mar. 26.
Apr. 2.
Apr. 9.
Apr. 16.
Apr. 23.
Apr. 30.
May 7.
May 14.
May 21.
May 28.
June 4.
June 11.
June 18.
June 25.
July 2.
July 9.
July 16.
July 23.
July 30.
Aug. 6.
Aug. 13.
Aug. 20.
Aug. 27.
Sept. 3.
Sept. 10.
Sept. 17.
Sept. 24.
Oct. 1.
Oct. 8.
Oct. 15.
Oct. 22.
Oct. 29.
Nov. 5.
Nov. 12.
Nov. 19.
Nov. 26.
Dec. 3.
Dec. 10.
Dec. 17.
Dec. 24.
Dec. 31.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

Time

Date or month

1930
1,727
1,725
1,730
1,691
1,702
1,688
1,695
1,731
1,683
1,733
1,653
1,719

257
238
230
232
222
225
232
221
218
222
212
212
207
216
207
221
214
218
225
213
235
221
223
215
216

20,225
20, 245
20,050
19,862
19,873
19,834
19,817
19,817
19,827
20,100
20,051
20,290
20,416
20, 310
20,451
20,489
20, 636
20,406
20, 567
20, 521
20, 547
20,794
20,868
20,866
20,839

13,418
13,392
13,135
12,949

13,329
13,208
13,383
13,455
13, 581
13,327
13,467
13,389
13,388
13,633
13,686
13, 638
13, 566

6,807
6,853
6,915
6,913
6,863
6,856
6,851
6,874
6,887
6,948
6,975
7,085
7,087
7,102
7,068
7,034
7,055
7,079
7,100
7,132
7,159
7,161
7,182
7,228
7,273

1,816
1,849
1,854
1,772
1,878

230
230
212
211
215
205
214
203
211
207
216
204
208
201
212
209
212
216
223
229
222
237
230
269
293
318
287

21,055
20,913
21,183
21,092
21,150
21,021
21,099
21,035
21,045
21,100
21,178
21,066
21,031
21,346
21,098
21,302
21,270
21,407
21,376
21,602
21,460
21,369
21,280
21,269
20,951
20,729
21,069

13, 740
13, 587
13, 784
13,692
13, 798
13, 664
13, 705
13,627
13, 606
13,629
13,700
13,618
13, 542
13,812
13, 557
13,767
13,710
13,830
13,829
14, 049
13,974
13,882
13,908
13,914
13,771
13, 603
13,999

7,315
7,326
7,399
7,400
7,352
7,357
7,394
7,408
7,439
7,471
7,478
7,448
7,489
7,534
7,541
7,535
7,560
7,577
7,547
7,552
7,486
7,487
7,372
7,355
7,180
7,126
7,070

248
202
204

84
67
45
32
35
51
38
44
40
79
37
28
33
44
39
76
58
62
78
61
62
84
99
106
160
250
89

1,718
1,704
1,697
1,740
1,745
1,781
1,813
1,791
1,813
1,824
1,829
1,834

239
225
216
213
223
219
220
208
209
210
228
280

20, 096
19,835
20,067
20,460
20, 511
20,842
21,078
21,050
21,093
21,284
21, 452
21,060

13,224
12,974
13,093
13,391
13,393
13, 631
13, 720
13, 651
13, 622
13, 735
13,934
13, 839

6,872
6,861
6,974
7,069
7,118
7,211
7,358
7,399
7,471
7,549
7,518
7,221

39
9
129
147
51
118
141
51
95
141
46
131

247
174
81
71
59
53
53
43
44
56
71
141

1, 738
1 1,714
1,746
1,727
1,774
1,727
1,755
1,757
1,742
1,775
1,783
1,788
1,779
1,792
1,780
1,840
1,824
1,818
1,752
1,789
1,807
1,814
1,786
1,817
1,836
1,816
1,787
1,802
1,827
1,827
1,879
1,791
1,881
1,830
1,814




13, 010
12,978
12,966
12,943
12,940
13,152
13,076
13, 205

193
147
134
120
109
65
46
46
46
16
182
182
181
147
142
122
113
71
48
34
34

107

108

ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD
No.

53.—REPORTING MEMBER BANKS IN

NEW

YORK

CITY * —

[In millions of dollars)

Date or month

Total
loans
and investments

Loans

Total

Investments

On secuAll other
rities

Total

U. S. se- Other securities
curities

1927
Jan. 5
Jan. 12
Jan. 19
Jan. 26
Feb. 2
Feb. 9
Feb. 19
Feb. 23
Mar. 2
Mar. 9
Mar. 16
Mar. 23
Mar. 30
Apr. 6 . . .
Apr. 13
Apr. 20
Apr. 27
May 4
May 11
May 18
M a y 25
Junel
June 8
June 15
June 22
June 29

6,256
6,117
6,090
6,143
6,048
6,031
6,045
6,170
8,136
6,309
6,300
6,287
6,346
6,272
6,302
6,334
6,433
6,406
6,435
6,420

_.

July 6
July 13
July 20
July 27
Aug. 3.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14_
Sept. 21
Sept. 28__
Oct. 5
Oct. 12_
Oct. 19
Oct. 26
Nov. 2
Nov. 9..
Nov. 16
Nov. 23
Nov. 30
Dec. 7
Dec. 14
Dec. 21
Dec. 28
Monthly averages:
January
February
March
April
May
June
July
August
September
October
November
December

6,578
6,528
6,638
6,546
6,593
6,628
6,451
6,409
6,434
6,489
6,460
6,425
6,383
6,506
6, 505
6,572
6,604
6,618
6,708
6,625
6,622
6,613

4,714
4,586
4,472
4,434

2,307
2,189
2,102
2,073

2,407
2,397
2,370
2,361

1,644
1,671
1,645
1.656

854
843
844
852

790 I
828
801
804

4,481
4,391
4,377
4,379

2,113
2,015
2,026
2,036

2,368
2,376
2,352
2,344

1,662
1,657
1,653
1,665

854
855
856
862

807
802
798
804

4,493
4,458
4,509
4,542
4,540
4,597
4,526
4,543
4,556

2,096
2,061
2,095
2,087
2,146
2,189
2,114
2,147
2,176
2,244
2,176
2,203
2,178
2,356
2,274
2,305
2,323
2,371
2,382
2,249
2,228
2,267
2,314
2,280
2,260
2,228
2,295

2,396
2,397
2,413
2,454
2.394
2,408
2,413
2,396
2,381
2,402
2,423
2,404
2,415
2,433
2,421
2,413
2,415
2,426
2.439
2,400
2,418
2,400

1,677
1,677
1,800
1,758
1,747
1,750
1,746
1,759
1,777
1,787
1,807
1,827
1,826
1,789
1,832
1,920
1,809
1,795
1,807
1,803
1,763
1,767

864
872
988
917
904

813
805
812
841
843

914
914
915
946
957
979
972
964
921
961
1,018
917
898

836
831
844
831

1,756
1,746
1,731
1,719
1,723
1,704
1,699
1,704
1,691
1,673
1,678
1,678
1,676
1,682
1,696
1,747
1,770
1,785

879
879
895
896
882
884
887
892

2,386
2,409
2,491
2,463
2,574

2,419
2,434
2,435
2,436
2,488
2,531
2,543
2,593
2,578
2,587
2,596
2,607
2,595
2,581
2,601
2,570
2,560
2,558

869
871
901
892
897
911
907
871
880
874
863
844
829
833
825
820
810
795
791
794
790
784

892
900
943
970
971

790
796
804
800
814

4,646
4,599
4,607
4,594
4,789
4,695
4,718
4,737
4,797
4,821
4,649
4,646
4,667

896
896
892
887

830
828
855
862

6,649
6,706
6,809
6,793
6,916

4,733
4,714
4,695
4,664
4,783
4,801
4,873
4,899
4,927
5,035
4,947
4,944
4,937
4,967
5,009
5,061
5,023
5,131

6,857
6,836
6,939
6,994

5,063
5,042
5,141
5,209

2,518
2,538
2,642
2,724

2,546
2,504
2,499
2,485

1,793
1,794
1,798
1,784

982
992
994
974

811
802
803
810

6,205
6,067
6,240
6,313
6,423
6,576
6,481
6,453
6,575
6,642
6,775
6,906

4,552
4,407
4,508
4,556
4,612
4,747
4,696
4,718
4,875
4,966
5,039
5,114

2,168
2,047
2,097
2,156
2,201
2,326
2,281
2,275
2, 313
2,370
2,465
2,605

2,384
2,360
2,411
2,399
2,411
2,422
2,414
2,442
2,562
2,596
2,574
2,509

1,654
1,659
1,732
1,758
1,812
1,829
1,785
1.735
1,700
1,676
1,736
1,792

848
857
909
922
968
943
893
887
887
886
935
986

806
803
823
835
844
886
892
848
813
790
801
807

2,270
2,330
2,306
2,348
2,448
2,352
2,338
2,342

887

i Comparable weekly figures for earlier years are available back to 1919, but have not been published;
they may be had on request.




KEPORTING MEMBER BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES BY W E E K S , 1927-1930
[In millions of dollars]
Net demand plus time
deoosits

Reserve

with

Federal
reserve

Cash in
Total

bank

Net demand

Time

BorrowGovern- ings at
ment de- Federal
posits
reserve
bank

Date or month

1927

737
780
792
777
755
756
757
777
786

56
59
55
56
59
61
59
55
57
56
57
54
55
55
59
60
57
57
60
60
57
60
58
65
58
67
60
63
74
85
71

6,197
6,114
5,979
5,890
5,958
5,857
5,855
5,789
5,934
5,902
6,069
6,030
6,052
5,996
5,996
6,016
6,057
6,123
6,104
6,165
6,150
6,386
6,332
6,545
6,306
6,430
6,354
6,230
6>218
6,225
6,274
6,264
6,188
6,129
6,265
6,212
6,327
6,176
6,196
6,277
6,222
6,297
6,281
6,321
6,386
6,519
6,521
6,679
6,590
6,618
6,620
6,590

5,275
5,191
5,067
4,976
5,032
4,930
4,920
4,858
5,019
4,982
5,129
5,102
5,109
5,060
5,036
5,062
5,107
5,172
5,154
5,197
5,193
5,415
5,292
5,535
5,288
5,419
5,348
5,255
5,230
5,225
5,261
5,246
5,175
5,122
5,263
5,209
5,325
5,177
5,185
5,269
5,203
5,286
5,261
5,286
5,336
5,462
5,452
5,614
5,563
5,596
5,578
5,544

717
682
710
688
720
776
728
724
726
728
768
769

62
59
56
57
58
57
58
55
58
59
62
73

6,045
5,864
5,997
6,016
6,135
6,400
6,257
6,223
6,228
6,270
6, 485
6,604

5,127
4,935
5,068
5,066
5,179
5,390
5,265
5,213
5,224
5,255
5,430
5,570

776
723
712
659

67
64
59
59

667
686
716
659
672
681
690
751
755

57
60
56
61
56
58
54
56
59

643
725
675
708

57
58
55
59

741
708
730
702

58
59
56
58

758
761
815
745
800
716
736
741
721
753
752
682
726
708
727
714
716
748
715
694
751
752




43
34
34
34

130
89
56
28

34
29
29
29
29
26
100
90
87
81
75
51
48

45
70
71
54
74
82
20
106
84
72
107
58
77

1,008
1,019
1,011
1,020
1,035
1,050
1,057
1,069
1,065
1,027
1,022
1,042
1,046

45
37
28
26
21
13
29
27
18
15
12
11
11
10
6
4
4
4
1
1
127
127
124
124
92
71
65
44
75
26
3
1
1
57
57

126
104
78
53
84
52
25
50
47
85
77
38
37
79
82
68
87
55
132
59
74
96
124
71
47
56
28
107
65
68
97
85
79
140
203

918
929
929
950
956
1,010
992
1, 010
1,004
1,015
1,055
1,034

36
30
66
64
34
22
12
6
64
103
43
29

76
60
73
78
90
.51
59
74
90
75
73
127

922
923
912
914
926
927
935
931
915
920
940
928
943
936
960
954
950
951
950
968
957
971
1,040
1,010
1,018
1,011
1,006
975
988
1,000
1,013
1,018
1,013
1,007
1,002
1,003
1,002
999
1,011

Jan. 5.
Jan. 12.
Jan. 19.
Jan. 26.
Feb. 2.
Feb. 9.
Feb. 16.

Feb. 23.
Mar. 2.
Mar. 9.
Mar. 16.
Mar. 23.
Mar. 30.
Apr. 6.
Apr. 13.
Apr. 20.
Apr. 27.
May 4.

May 11.
May 18.
May 25.
June 1.
June 8.
June 15.
June 22.
June 29.
July 6.
July 13.
July 20.
July 27.
Aug. 3.
Aug. 10.
Aug. 17.
Aug. 24.
Aug. 31.
Sept. 7.
Sept. 14.
Sept. 21.
Sept. 28.
Oct. 5.
Oct. 12.
Oct. 19.
Oct. 26.
Nov. 2.
Nov. 9.
Nov. 16.
Nov. 23.
Nov. 30.
Dec. 7.
Dec. 14.
Dec. 21.
Dec. 28.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

109

110

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 53.—REPOKTING MEMBEK BANKS IN N E W YORK C I T Y —
[In millions of dollars]

Date or month

Total
loans
and investments

Investments

Loans

U. S. securities

On securities

All other

979
1,048
1,060
1,104
1,098
1,097
1,087
1,085
1,079
1,086
1,088
1,085
1,067

7,226
7,057
7,108
7,216

2,489
2,489
2,472
2,429
2,401
2,448
2,461
2,467
2,503
2,519
2,557
2,585
2,597
2,641
2,655
2,626
2,589
2,619
2,619
2,612
2,637
2,617
2,622
2,651
2,637
2,630
2,706
2,605
2,627
2,638
2,638
2,679
2,658
2,663
2,703
2,690
2,684
2,669
2,668
2,686
2,697
2,635
2,618
2,614
2,582
2,573
2,550
2,541
2,558
2,566
2,625
2,619

1,795
1,874
1,867
1,906
1,896
1,884
1,878
1,860
1,921
1,915
1,922
1,900
1,880

5,470
5,402
5,425
5,363
5,380
5.329
5,289
5,209
5,166
5,494
5,271
5,161
5,154
5,284
5,226
5,129
5,134
5,157
5,266
5,203
5,247
5,169
5,259
5,198
5,186
5,185
5,220
5,256
5,144
5,267
5,354
5,410
5,252
5,296
5,399

2,915
2,685
2,609
2,632
2,691
2,537
2,498
2,428
2,481
2,402
2,475
2,395
2,524
2.733
2,607
2,643
2,716
2,851
2,782
2,812
2,726
2,763
2,707
2,638
2,571
2,537
2,788
2,666
2, 533
2,516
2,646
2,548
2,471
2,470
2,454
2,576
2,520
2,577
2,502
2,572
2,501
2,551
2,567
2,606
2,674
2,571
2,716
2,813
2,852
2,685
2,671
2,780

1,860
1,846
1,850
1,840
1,849
1,876
1,876
1,886
1,885
1,886
1,900
1,945
1,939
1,917
1,923
1,889
1,870
1,852
1,766
1,758
1,749
1,758
1,772
1,788
1,816
1,825
1,780
1,768
1,824
1,814
1,830
1,802
1,802
1,784
1,814
1,815
1,805
1,812
1,817

1,060
1,056
1, 059
1,048
1,064
1,082
1,080
1,077
1,075
1,077
1,088
1,131
1,116
1,115
1,120
1,099
1,086
1,081
1,001
995
996
1,002
1,025
1,042
1,071
1,072
1,069
1,069
1,115
1,107
1,101
1,099
1,084
1,075
1,083
1,087
1,085
1,096
1,097

816
826
807
802
798
787
791
776
842
829
835
814
813
800
789
791
792
785
794
797
809
811
808
812
814
823
801
804
791
784
771
765
764
753
756
747
746
745
754
711
698
710
707
730
703
718
709
731
729
720
716
720

7,040
6,871
6,918
7,152
7,282
7,166
7,170
6,962
7,022
7,013
7,056
7,152

5,180
4,983
5,014
5,303
5,408
5,248
5,270
5,186
5,221
5,209
5,255
5,339

2,710
2,527
2,449
2,675
2,787
2,613
2,626
2,518
2,544
2,559
2,694
2,747

2,470
2,456
2,565
2,628
2,621
2,635
2,644
2,66S
2,678
2,650
2, 562
2,592

1,860
1,888
1,904
1,849
1,874
1,918
1,900
1,777
1,801
1,803
1,800
1,812

1,048
1,089
1,081
1,056
1,075
1,103
1,105
1.015
1,053
1,092
1,085
1,091

813
799
823
793
799
814
795
762
748
711
715
721

Total

Total

Other securities

1928
Jan. 4 . .
Jan. 11
Jan. 18
Jan. 25
Feb. 1
Feb. 8
Feb. 15
Feb. 22..
F e b . 29
Mar. 7 . . .
Mar. 14.
Mar. 21.
Mar. 28
Apr. 4 .
Apr. 11
Apr. 18
Apr. 25
May 2
May 9
M a y 16
M a y 23
M a y 29
J u n e 6__.
J u n e 13
J u n e 20
J u n e 27_

7,199
7,048
6,947
6,967

_

6,838
6,756
6,905
6,836
6,954
6.880
7,001
7,235
7,108
7,120
7,145
7,319
7,277
7,301
7,249
7,265

_

_..

July3
July 11..
July 18
July 25
Aug. 1
Aug. 8
Aug. 15
Aug. 22
Aug. 29
Sept. 5
Sept. 12
Sept. 19
Sept. 26
Oct. 3
Oct. 10
Oct. 17__
Oct. 24
Oct. 31
Nov. 7
Nov. 14
.._
Nov. 21
Nov. 28
Dec. 5
Dec. 12
Dec. 19
Dec. 26-._
Monthly averages:
January
February
March
April
May
-_
June
July
August...
September
October
November
December




7,215
7,189
7,154
7,105
7,411
7,194
7,050
7,025
7,136
6,992
6,887
6,883
6,914
7,038
6,991
7,063
6,995
7,039
6,966
7,010
6,999
7,050
7,059
6,946
7.050
7,167

5,403
5,175
5,081
5,061
5,092
4,985
4,959
4,895
4,984
4,921
5,032
4,981
5,121
5,374
5,262
5,270
5,305

!
i
i
I

REPORTING MEMBER BANKS IN LEADING CITIES

111

PRINCIPAL RESOURCES AND LIABILITIES BY W E E K S , 1927-1930—Continued
[In millions of dollars]
Reserve
with
Federal
reserve
bank

Net demand plus time
deposits
Cash in

vault

Total

Net demand

Time

BorrowGovern- ings at
ment de- Federal
reserve
posits
bank

57
56
53
52
50
52
51
52
52
53
54
52
53
52
62
51
53
53
61
56
53
64
56
63
74
76

6,925
6,731
6,674
6,599
6,704
6,546
6,517
6,411
6,644
6,544
6,637
6,443
6,565
6,752
6,718
6,743
6,697
6,860
6,760
6,769
6,704
6,705
6,689
6,657
6,517
6,496
6,698
6,447
6,343
6,301
6,411
6,178
6,185
6,144
6,195
6,282
6,294
6,258
6,235
6,307
6,298
6,341
6,357
6,490
6,416
6,413
6,499
6,560
6,592
6,486
6,443
6,490

5,822
5,636
5,577
5,497
5,607
5,436
5,422
5,328
5,563
5,482
5,577
5,359
5,451
5,636
5,609
5,626
5,559
5,695
5,575
5,573
5,494
5,495
5,489
5,458
5,300
5,271
5,513
5,256
5,181
5,143
5,252
5,022
5,013
4,986
5,033
5,110
5,129
5,078
5,050
5,123
5,105
5,122
5,138
5,273
5,210
5,198
5,294
5,355
5,395
5,294
5,247
5,283

1,103
1,095
1,097
1,102
1,097
1,110
1,095
1,083
1,081
1,062
1,060
1,084
1,114
1,116
1,109
1,117
1,138
1,165
1,185
1,196
1,210
1,210
1,200
1,199
1,217
1,225
1,185
1,191
1,162
1,158
1,159
1,156
1,172
1,158
1,162
1,172
1,165
1,180
1,185
1,184
1,193
1,219
1,219
1,217
1,206
1,215
1,205
1,205
1,197
1,192
1,196
1,207

47
35
27
21
50
35
32
25
20
16
11
56
45
27
17
58
43
41
28
22
22
17
6
1
68
53

58
52
51
51
51
53
55
52
53
54
58
67

6,732
6,564
6,547
6,727
6,759
6,589
6,447
6,222
6,267
6,358
6,472
6,503

5,633
5,471
5,467
5,607
5,566
5,379
5,273
5,061
5,092
5,152
5,264
5,305

1,099
1,093
1,080
1,120
1,193
1,210
1,174
1,161
1,175
1,206
1,208
1,198

34
14
44
59
18
30
32
32
32
37
22
32

823
797
783
723
778
768
751
728
746
747
730
717
757
767
801
758
781
797
779
756
759
743
761
748
736
752
752
745
713
709
759
689
695
692
691
686
729
743
705
719
697
723
701
759
712
707
722
745
726
779
742
761

66
60
53
52
48
52
53
56
51
52
52
50
50
51
52
49
51
49
52
49
52
54
52
53
51
54

781
754
738
777
767
749
730
705
716
720
721
752




49
37
27
24
23
13
11
11
11
3
3
85
85
81
70
50
35
32
21
15
10
10

61
58

Date or month

1928
Jan. 4.
Jan. 11.
Jan. 18.
Jan. 25.
75 Feb. 1.
94 Feb. 8.
123 Feb. 15.
55 Feb. 22.
42 Feb. 29.
80 Mar. 7.
67 Mar. 14.
44 Mar. 21.
108 Mar. 28.
162 Apr. 4.
155 Apr. 11.
91 Apr. 18.
172 Apr. 25.
180 May 2.
229 May 9.
233 May 16.
230 May 23.
237 May 29.
263 June 6.
297 June 13.
269 June 20.
256 June 27.
316 July 3.
342 July 11.
213 July 18.
223 July 25.
255 Aug. 1.
244 Aug. 8.
188 Aug. 15.
229 Aug. 22.
198 Aug. 29.
260 Sept. 5.
270 Sept. 12.
305 Sept. 19.
229 Sept. 26.
256 Oct. 3.
236 Oct. 10.
201 Oct. 17.
157 Oct. 24.
160 Oct. 31.
203 Nov. 7.
108 Nov. 14.
92 Nov. 21.
224 Nov. 28.
244 Dec. 5.
220 Dec. 12.
139 Dec. 19.
281 Dec. 26.
Monthly averages:
94
January.
78
February.
75
March.
145
April. a
222
May.
271
June,
274
July.
223
August.
266
September.
202
October.
157
November.
221
December.
123
117
51
84

112

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 53.—REPORTING MEMBER BANKS IN N E W YORK GITY[In millions of dollars]

Total
loans
and investments
1929
Jan.2 . . _
Jan. 9
Jan. 16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 20
Feb. 27
Mar. 6
Mar. 13
Mar. 20
Mar. 27
Apr. 3
Apr. 10
Apr. 17
Apr. 24. , .
May 1
May 8
May 15
May 22
May 29
June 5
June 12
June 19
June 26__
July 3
July 10
July 17
July 24
July 31
Aug. 7
Aug. 14
Aug. 21
Aug. 28
Sept. 4
Sept. 11
Sept. 18
Sept. 25 „
Oct. 2
.
Oct. 9
Oct. 16
Oct. 23
Oct. 30
Nov. 6
Nov. 13 ,
Nov. 20
Nov. 27
_
Dec. 4
Dec. 11
Dec. 18
Dec. 24
_
Dec. 31
Monthly averages:
January
._
February
March
April.
_ _. . .
May
June July
August
-_
September
_
October
November..
December




Investments

Loans

Total

On secu- All other
rities

7,670
7,255
7,161
7,075
7,148
7,227
7,187
7,109
7,239
7,270 !
7,209
7,340 [
7,366
7,405
7,276
7,252
7,253
7,332
7,165 1
7,194
7,120
7,100
7,236
7,200
7,277
7,410
7,525
7,461
7,417
7,502
7,575
7,512
7,381
7,354
7,383
7,546
7,467
7,542
7,474
7,563
7,464
7,526
7,619
9, 010
8,658
8,338
8,215
8,187
8,035
7,909
7,929
7,892
8,240

5,838
5, 404
5,251
5,162
5,234
5,321
5,304
5,229
5,369
5,416
5,348
5,449
5,484
5,521
5,421
5,398
5,410 1
5,476
5,314
5,337
5.294 !
5,299
5,409
5,390
5,465
5,610
5,843
5,781
5,729
5,815
5,850
5,775
5,653
5,637
5,686
5,853
5,770
5,814
5,777
5,876
5,756
5,817
5,899
7.191
6,733
6,403
6,215
6,169
6,047
5,967
5,927
5,906
6,257

3,259
2,889
2,837
2,742
2,795
2,857
2,817
2,743
2,863
2,859
2,749
2,833
2,852
2,819
2,708
2,682
2,707
2,777
2,647
2,641
2,614
2,585
2,678
2,663
2.749
2,908
3,117
3,040
2,970
3,017
3,082
2,961
2,822
2,775
2,819
2,944
2,846
2,894
2,883
2,947
2,836
2,964
3,005
4,205
3,751
3,427
3,105
3,077
3.073
3,023
3,022
3,045
3,398

2,579
2,515
2,414
2,420
2,439
2,464
2,487
2,486
2,506
2,557
2,599
2,616
2,632
2,702
2,713
2,716
2,702
2,699
2,667
2,696
2,680
2,714
2,731
2,727
2,716
2,702
2,726
2,742
2,758
2,797
2,768
2,813
2,830
2,862
2,867
2,908
2,924
2,920
2,894
2,929
2,921
2,853
2,894
2,986
2,982
2,977
3,110
3,092
2,974
2,944
2,905
2,861
2,859

7,262
7,190
7,296
7,297
7,182
7,281
7,496
7,407
7,507
7,837
8,349
8,001

5,378
5,306
5,424
5,437
5,344
5,468
5,804
5,688
5,803
6,108
6,380
6,021

2,904
2,820
2,823
2,729
2,653
2,749
3,045
2,845
2,892
3.191
3,340
3,112

2, 473
2,486
2,601
2,708
2,691
2,719
2,758
2,843
2,911
2.916
3,040
2,909

Total

U. S. se- Other securities curities

1,832
1,851
1,910
1,913
1,915
1,905
1,883
1,880
1,870
1,854
1,860
1,892
1,881
1,884
1,854
1.854
1,844

1,100
1,123
1,145
1,146
1,139
1,140
1,128
1,127
1,116
1,110
1,089
1,122
1,109
1,106
1,085
1,089
1,079
1,074
1,075
1,062
1,038
1,018
1,049
1,056
1,063
1,054
939
940
949
946
973
958
962
955
946
943
945
950
927
921
932
940
947
990
1,064
1,077
1,129
1,163
1,127
1,105
1,112
1,089
1,073

1,856
1,852
1,857
1,825
1,801
1,827
1,810
1,812
1,800
1,682
1,679
1,687
1,687
1,726
1,737
1, 728
1,717
1,697
1,693
1,697
1,729
1,697
1,687
1,708
1,709
1,721
1,819
1,925
1,934
1,999
2,018
1,989
1,943
2,002
1,986
1,983
1,884
1,885
1,872
1,859
1,838
1,812
1,692
1,720
1,704
1,729
1,969
1,981

1
1
|
f
1
i
1
|

1,131
1,128
1,107
1,090
1,053
1,055
950
955
941
946
1,108
1,101

731
728
765
767
775
765
755
753
754
745
772
770
772
778
769
766
765
782
777
795
788
783
778
754
749
747
742
739
738
741
753
779
766
762
751
750
752
779
769
766
775
769
773
829
861
857
870
855
862
838
890
897
911
753
757
765
769
785
757
743
764
763
783
861
879

REPORTING MEMBER BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS, 1927-1930—Continued
[In millions of dollars]

Reserve
with
Federal
reserve
bank

Total

731
744
744
729
716
709
704
745
724
726
701
673
728
721
720
711

55
54
50
54
52
55
54
55
62
57
56
51
54

753
740
727
737
743
703
703
700
702
717
734
750
741
752
727
757
739
982
908
963
903
781
785
788
797
736
779

62
55
57
53
52
53
56
52
51
52
54
50
52
52
56
51
54
76
83
77
70
71
65
72
80
76
61

6,912
6,609
6,573
6,458
6,534
6,558
6,476
6,385
6,526
6,452
6,427
6,450
6,438
6,513
6,364
6,352
6,313
6,483
6,303
6,348
6,239
6,278
6,360
6,329
6,291
6,400
6,412
6,320
6,282
6,308
6,507
6,358
6,314
6,269
6,295
6,436
6,413
6,416
6,370
6,535
6,361
6,535
6,555
8,108
7,824
7,611
7,420
7, 245
7,029
6,985
6,925
6,857
7,263

770
743
736
715
714
720
740
702
736
791
889
777

58
58
54
53
56
54
56
53
52
58
76
71

6,618
6,487
6,442
6,385
6,330
6,345
6,365
6,309
6,409
6,819
7,526
7,011

844
756
756
727
767
751
740
722
761

1

Net demand plus time
deposits
Cash in
vault

726

65
59
54
54
56
54
61
61

56
53
56
53
55




Net demand

Time

5,682
5,407
5,391
5,280
5,334
5,357
5,294
5,212
5,349
5,285
5,261
5,290
5,251
5,326
5,202
5,205
5,160
5,334
5,146
5,167
5,070
5,124
5,208
5,207
5,145
5,238
5,341
5,254
5,192
5,203
5,357
5,217
5,172
5,120
5,106
5,230
5,204
5,193
5,130
5,279
5,106
5,270
5,298
6,851
6,588
6,369
6,183
5,970
5,783
5,773
5,715
5,662
6,028

1,230
1,202
1,182
1,178
1,200
1,201
1,182
1,173
1,177
1,167
1,166
1,160
1,187
1,187
1,162
1,147
1,153
1,149
1,157
1,181
1,169
1,154
1,152
1,122
1,146
1,162
1,071
1,066
1,090
1,105
1,150
1,141
1,142
1,149
1,189
1,206
1,209
1,223
1,240
1,256
1,255
1,265
1,257
1,257
1,236
1,242
1,237
1,275
1,246
1,212
1,210
1,195
1,235

5,419
5,303
5,272
5,223
5,168
5,200
5,269
5,154
5,189
5,561
6,278
5,792

1,199
1,184
1,170
1,162
1,162
1,145
1,096
1,155
1,220
1,258
1,248
1,219

BorrowGovern- ings at
ment de- Federal
reserve
posits
bank

45
30
24
23
23
14
12
12
10

399
202
141
81
128
114
174
103
134

2
2
129
129
122
109
69
62
60
46
44
42
42
24
19
72
72

196
139
126
204

48
38
38
22
22
12
11
11
9
3

341
341
325
305
282
295
191
144
153
217
159
142
147
63
46
49
41
170
135
40
33
33
34
66
88
107
106

65
65
65
60
46
37
36
24
22
16
14
10
8
25
19
17
29
12
65
91
47
47
33
11
33
49
19
16

135
158
179
177
157
189
166
111
103
123
136
170
228

190
131
166
162
145
165
319
196
166
74

60
80

Date or month

1929
Jan. 2.
Jan. 9.
Jan. 16.
Jan. 23.
Jan. 30.
Feb. 6.
Feb. 13.
Feb. 20.
Feb. 27.
Mar. 6.
Mar. 13.
Mar. 20.
Mar. 27.
Apr. 3.
Apr. 10.
Apr. 17.
Apr. 24.
May 1.
May 8.
May 15.
May 22.
May 29.
June 5.
June 12.
June 19.
June 26
July 3.
July 10.
July 17.
July 24.
July 31.
Aug. 7.
Aug. 14.
Aug. 21.
Aug. 28.
Sept. 4.
Sept. 11.
Sept. 18.
Sept. 25.
Oct. 2.
Oct. 9.
Oct. 16.
Oct. 23.
Oct. 30.
Nov. 6.
Nov. 13.
Nov. 20.
Nov. 27.
Dec. 4.
Dec. 11.
Dec. 18.
Dec. 24.
Dec. 31.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

113

114

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 53.—REPORTING MEMBER BANKS IN N E W YORK C I T Y —
[In millions of dollars]
Total
loans
and investments

Jan. 8....
Jan. 15...
Jan. 22...
Jan. 29....
Feb. 5....
Feb. 12...
Feb. 19...
Feb. 26...
Mar. 5....
Mar. 12...
Mar. 19..,
Mar. 26...
Apr. 2....
Apr. 9....
Apr. 16...
Apr. 23...
Apr. 30...
May 7...
May 14. _
May 21..
May 28June 4...
June ll._
June 18_.
June 25__
July 2 . . .
July 9 . . .
July 16..
July23..
July 30..
Aug. 6-_.
Aug. 13..
Aug. 20-.
Aug. 27..
Sept. 3...
Sept. 10..
Sept. 17..
Sept. 24..
Oct. 1...
Oct. 8....
Oct. 15...
Oct. 22...
Oct. 29...
Nov. 5...

1930

Nov. 12..
Nov. 19..
Nov. 26..
Dec.
Dec.
Dec.
Dec.
Dec.

3...
10..
17..
24..
31..

Monthly averages:
January
February
March
April
_
May
June
July
August
September
October
November
December




Loans

Total

Investments

On secu- All other
rities

Total

7,813
7,675
7,599
7,567
7,551
7,525
7,484
7,412
7,499
7,595
7,747
7,756
7,850
7,724
7,738
7,885
7,947
7,840
7,832
7,831
7,903
8,134
7,975
8,131
8,229
8,123
7,979
8,014
8,070
8,202
8,136
8,068
8,076
8,108
8,161
8,041
8,058
8,092
8,325
8,236
8,318
8,273
8,414
8,457
8,363
8,452
8,413
8,352
8,280
8,003
8,045
8,152

5,838
5,705
5,638
5,641
5,648
5,611
5,578
5,499
5,582
5,700
5,787
5,810
5,894
5,780
5,785
5,912
5,969
5,870
5,865
5,848
5,928
6,122
5,986
6,130
6,158
6,058
5,916
5,944
5,952
6,050
6,036
6,002
5,968
6,010
6,057
5,933
5,970
6,033
6,244
6,127
6,175
6,046
6,116
6,139
6,022
6,068
5,989
5,975
5,896
5,706
5,749
5,859

3,049
2,970
2,895
2,866
2,921
2,912
2,913
2,890
2,953
3,065
3,160
3,280
3,393
3,284
3,316
3,409
3,511
3,409
3,407
3,456
3,565
3,753
3,630
3,726
3,696
3,652
3,498
3,518
3,537
3,586
3,632
3,585
3,527
3,608
3,652
3,523
3,541
3,619
3,796
3,660
3,640
3,550
3,500
3,535
3,377
3,352
3,342
3,341
3,310
3,248
3,366
3,438

2,789
2,735
2,742
2,775
2,727
2,700
2,665
2,609
2,629
2,635
2,627
2,530
2,501
2,496
2,468
2,503
2,458
2,461
2,458
2,391
2,363
2,369
2,356
2,404
2,462
2,406
2,418
2,426
2,415
2,464
2,404
2,417
2,441
2,402
2,405
2,409
2,429
2,414
2,448
2,466
2,535
2,496
2,616
2,604
2,644
2,716
2,648
2,634
2,586
2,457
2,383
2,421

1,976
1,971
1,961
1,927
1,903
1,914
1,905
1,914
1,917
1,895
1,960
1,946
1,956
1,944
1,953
1,973
1,977
1,971
1,967
1,984
1,975
2,012
1,989
2,001
2,072
2,065
2,063
2,070
2,119
2,152
2,099
2,066
2,108
2,098
2,104
2,109
2,088
2,059
2,081
2,110
2,143
2,227
2,299
2,318
2,341
2,384
2,423
2,377
2,384
2,297
2,295
2,293

7,664
7,493
7,649
7,829
7,852
8,117
8,078
8,097
8,088
8,313
8,421
8,166

5,705
5,584
5,720
5,868
5,878
6,099
5,984
6,004
5,998
6,141
6,055
5,837

2,945
2,909
3,115
3,383
3,459
3,701
3,558
3,588
3,584
3,629
3,401
3,341

2,760
2,675
2,605
2,485
2,418
2,398
2,426
2,416
2,415
2,512
2,653
2,496

1,959
l,r"
1,929
1,961
1,974
2,019
2,094
2,093
2,090
2,17f
2,367
2,329

U. S. se- Other securities curities

1,083
1,110
1,114
1,093
1,096
1,110
1,114
1,108
1,102
1,097
1,146
1,120
1,118
1,102
1,114
1,120
1,112
1,099
1,091
1,097
1,078
1,066
1,049
1,074
1,113
1,095
1,088
1,096
1,110
1,122
1,079
1,065
1,090
1,077
1,075
1,083
1,069
1,048
1,038
1,049
1,080
1,130
1,126
1,154
1,151
1,200
1,204

892
860
847
834
806
803
792
805
815
798
814
826
838
842
840
853
866
872
876
886
897
946
939
927
958
969
975
974
1,008
1,029
1,020
1,002
1,018
1,021
1,029
1,026
1,018
1,011
1,043
1,061
1,063
1,097
1,172
1,164
1,191
1,184
1,219

1,217
1,271
1,236
1,234
1,182

1,160
1,114
1,061
1,061
1,111

1,100
1,107
1,116
1,113
1,091
1,076
1,102
1,078
1,069
1,084
1,177
1,228

858
802
813
848
883
943
991
1,015
1,021
1,088
1,189
1,101

REPORTING MEMBER BANKS IN LEADING CITIES
PBINCIPAL RESOURCES AND LIABILITIES BY W E E K S , 1927-1930—Continued
[In millions of dollars]

Reserve
with
Federal
reserve
bank

Net demand plus time
deposits
Cash in
vault
Jldl

Net demand

Time

Government deposits

Borrowings at
Federal
reserve
bank

Date or month

1930
744
764
746
729
747
742
743
782
723
755
713
751
758
752
758
745
782
741
760
765
780
784
793
784
789
796
766
812
825
826
754
787
782
808
766
800
809
820
802
794
794
826
874
796
867
831

841
841
782
861
746
753
736
759
761
788
805
783
799
818
831
826

59
51
51
51
49
49
50
49
48
48
46
47
46
47
45
47
47
47
49
46
57
46
49
47
48
56
48
45
45
47
45
45
44
46
44
46
43
44
44
46
45
46
48
52
50
51
64
56
79
90
104
85
53
49
47
46
50
47
48
45
44
46
54

6,746
6,729
6,605
6,500
6,541
6,441
6,424
6,456
6,432
6,571
6,582
6,671
6,794
6,668
6,710
6,819
6,969
6,754
6,816
6,787
6,896
7,018
6,973
7,059
7,120
7,097
6,915
7,007
7,054
7,145
7,015
7,035
6,994
7,075
7,048
6,997
6,929
6,989
7,232
7,101
7,154
7,280
7,458
7,316
7,411
7,458
7,436
7,310
7,307
7,071
7,041
7,271

5,479
5,454
5,311
5,225
5,300
5,218
5,199
5,226
5,186
5,276
5,278
5,320
5,426
5,300
5,366
5,485
5,625
5,384
5,444
5,417
5,508
5,641
5,574
5,602
5,661
5,659
5,480
5,556
5,610
5,708
5,595
5,595
5,558
5,631
5,613
5,554
5,526
5,574
5,778
5,622
5,665
5,750
5,937
5,821
5,924
6,017
5,996
5,933
5,947
5,855
5,832
6,070

6,645
6,466
6,564
6,793
6,813
7,042
7,044
7,030
6,991
7,245
7,406
7,201

5,367
5,236
5,265
5,441
5,438
5,619
5,603
5,595
5,567
5,750
5,940
5,928




1,267
1,275
1,294
1,275
1,241
1,223
1,225
1,230
1,246
1,295
1,304
1,351
1,368
1,368
1,344
1,334
1,344
1,370
1,372
1,370
1,388
1,377
1,399
1,457
1,459
1,438
1,435
1,451
1,444
1,437
1,420
1,440
1,436
1,444
1,435
1,443
1,403
1,415
1,454
1,479
1,489
1,530
1,521
1,495
1,487
1,441
1,440
1,377
1,360
1,216
1,209
1,201
1,278
1,230
1,299
1,352
1, 375
1,423
1,441
1,435
1,424
1,495
1,466
1, 273

9
8
7
7
4
2
1
1

99
85
77
61
50
38
33
18
18
18
18
10
7
71
71
64
49
45
40
36
22
15
15
15
5
46
46
46
37
36
31
29
18
12
9
9

43
35
35
8
2
46
52
M8
o9
47
17
24
36
12
22

76
15
44
20
11
37
37
1
2
1

Jan.
Jan.
Jan.
Jan.

8.
15.
22.
29.

Feb.
Feb.
Feb.
Feb.
Mar.
Mar.
Mar.
Mar.

5.
12.
19.
26.
5.
12.
19.
26.

15
31
16
10
12
28

Apr. 2.
Apr. 9.
Apr. 16.
Apr. 23.
Apr. 30.
May 7.
May 14.
May 21.
May 28.
June 4.
June 11.
June 18.
June 25.
July 2.
July 9.
July 16.
July 23.
July 30.

15
22

15

36

2
29
24

6
19
25
70
9
39
21
1
17
11
5
4
9
6
6
26

Aug. 6.
Aug. 13.
Aug. 20.
Aug. 27.
Sept. 3.
Sept. 10.
Sept. 17.
Sept. 24.
Oct. 1.
Oct. 8.
Oct. 15.
Oct. 22.
Oct. 29.
Nov. 5.
Nov. 12.
Nov. 19.
Nov. 26.
Dec.
Dec.
Dec.
Dec.
Dec.

3.
10.
17.
24.
31.

Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

115

116

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 54.—REPORTING MEMBER BANKS OUTSIDE N E W YORK CITY *—
[In millions of dollars]

Date or month

Total
loans and
investments

Loans

Total

1927

Jan. 5...
Jan. 12..
Jan.19..
Jan.26..
Feb. 2...
Feb. 9...
Feb. 16..
Feb. 23..
Mar. 2...
Mar. 9...
Mar. 16..
Mar. 23..
Mar. 30..
Apr. 6...
Apr. 13Apr.20..
Apr 27..
May 4...
May 11May 18..
May 26..
June 1..June8__.
June 15..
June22._
June29_.
July6...
Julyl3..
July 20..
July 27..
Aug. 3...
Aug. 10Aug. 17Aug. 24..
Aug. 31Sept. 7...
Sept. 14..
Sept. 21..
Sept. 28..
Oct. 5...
Oct. 12..
Oct. 19-.
Oct. 26...

13.506
13,498
13,470
13,451
13,449
13,480
13.507
13, 531
13, 610
13, 639
13,862
13,816
13,819
13, 767
13, 764
13,714
13, 773
13,812
13,828
13,882
13,879
13,854
13,837
14,005
13,957
13, 997
13,956
13,918
13, 922
13,897

Dec. 7
Dec. 14
Dec. 21
Dec. 28..

13,857
13,924
13,922
13,888
13, 929
13,921
14,042
14,157
14,194
14,244
14,287
14,314
14,258
14,236
14,257
14,395
14,415
14,382
14,393
14,431
14,448
14,416

Monthly averages:
January
February..
March
April..
May
June
July
August
September
October
November
December

13,481
13,492
13,749
13,754
13,850
13,930
13,923
13,904
14,079
14,276
14,337
14,422

Nov.
Nov. 9..
Nov
Nov,
Nov

On securities

All
other

3,908
3,909
3,903
3,920
3,908
o,899
3,922
3,946
3,929
3,934
3,939
3,985
3,994
4,019
4,009
4,023
4,043
4,059
4,032
4,014
4,037
4,044
4,012
4,063
4,083
4,063
4,075

6,257
6,258
6,231
6,212
6,194
6,200
6,207
6,226
6,234
6,262
6,283
6,253
6,261
6,267
6,253
6,212
6,206
6,249
6,255
6,226
6,220
6,201
6,191
6,210
6,204
6,226
6,194
6,190
6,167
6,151
6,163
6,200
6,190
6,169
6,187
6,163
6,214
6,228
6,223
6,258
6,281
6,274
6,222
6,234
6,264
6,226
6,241
6,243
6,224
6,227
6,204
6,192

3,747
3,733
3,769
3,774
3,816
3,895
3,910
3,926
3,984
4,034
4,028
4,071

6,240
6,206
6,259
6,234
6,238
6,206
6,176
6,182
6,207
6,259
6,242
6,212

10,036
10,002
9,970
9,940
9,929
9,942
9,932
9,955
9,997
10,019
10,076
10,025
10,025

3,779
3,744
3,739
3,728
3,736
3,743
3,725
3,729
3,762
3,756
3,792
3,773
3,764

10,011
10,030
9,983
10,008
10,049
10,060
10,062
10,045
10,049
10,096
10.135
10,091
10,134
10,104
10,093
10,087
10,059
10,061
10,121
10.136
10,099
10,120
10,101
10,199
10,222
10,242
10,267
10,304
10,318
10,281
10,266
10,278
10,262
10,286
10,255

3,743
3,777
3,772
3,802

10,286
10,310
10.266
10.267

Investments

3,800
3,805
3,836
3,825

3,848
3,905
3,925

Total

3,470
3,496
3,500
3,511
3,519
3,537
3,575
3,577
3,613
3,621
3,786
3,790
3,794
3,757
3,734
3,730
3,765
3,763
3,768
3,820
3,834
3,805
3,741
3,870
3,866
3,863
3,853
3,825
3,835

U. S. se- Other securities curities

3,970
3,979
4,133
4,129
4,127

1,665
1,656
1,659
1,662
1,634
1,627
1,607
1,602
1,609
1,606
1,616
1,701
1,711
1,728
1,733
1,739
1,722
1,698
1,684
1,836
1,827
1,829

4,107
4,121
4,181
4,149

1,821
1,819
1,871
1,827

2,016
2,009
1,994
1,997
2,012
2,022
2,048
2,058
2,081
2,099
2,117
2,119
2,143
2,105
2,101
2,091
2,116
2,109
2,108
2,133
2,158
2,193
2,164
2,174
2,184
2,191
2,188
2,169
2,176
2,175
2,162
2,176
2 179
2^187
2,200
2,214
2,227
2,234
2,240
2,249
2,250
2,257
2,256
2,273
2,294
2,297
2,302
2,298
2,286
2,301
2,310
2,322

3,494
3,552
3,721
3,746
3,796
3,829

1,490
1,517
1,609
1,643
1,669
1,648
1,661
1,616
1,659
1,730
1,775
1,835

2,004
2,035
2,112
2,103
2,127
2,181
2,177
2,181
2,229
2,253
2,293
2,305

3,795
3,802
3,786
3,790
3,809
3,820
3,843
3,935
3,952
3,977
3,983
3,996
3,977

1,455
1,487
1,506
1,514
1,507
1,516
1,527
1,518
1,532
1,522
1,670
1,671
1,651
1,652
1,632
1,639
1,649
1,653
1,660
1,687
1,676
1,612
1,577
1,695
1,682
1,672

t
9,987
9,940
10,028
10,008

1,054
10,101
10,086
10,107
10,191
10,292
10,269
10,282

3,796
3,887
3,984
4,068
4,140

i Comparable weekly figures for earlier years are available back to 1919, but have not been published;
they may be had on request.




REPORTING MEMBER BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930
[In millions of dollars]

Reserve
with
Federal
reserve
banks

t

Cash in
vault

Net demand plus time
deposits
Total

demand

Time

Govern- Borrowings at
ment
deposits Federal
reserve
banks

Date or month

968
954
954
942
979
944
979
924
963
949
986
954
925
980
945
972
965
976
961
966
979
962
969
995
967
946
970
968
957
950
986
956
980
982
983
972
985
983
969
992
1,005
997
972
990
970
1,027
977
1,000
1,007
1,023
997
1,022

239
230
211
207
200
209
197
220
199
210
198
204
204
204
211
203
205
202
206
200
201
202
209
200
201
210
215
212
199
202
196
201
193
198
197
209
210
202
202
203
207
206
206
200
221
204
212
216
225
239
253
245

12,858
12,925
12,885
12,833
12,860
12, 863
12,952
12, 952
13,025
13,029
13,133
13,011
12, 931
13,031
13,063
13,020
13, 042
13,105
13,184
13,182
13,158
13,156
13,178
13, 320
13,103
13,131
13, 214
13, 284
13, 215
13,190
13,215
13,299
13 312
13,255
13, 322
13,361
13,490
13,325
13, 347
13,465
13, 533
13,493
13, 458
13,488
13,554
13,670
13, 676
13,749
13,730
13,782
13,621
13, 612

7,935
7,984
7,948
7,890
7,926
7,915
8,004
7,946
7,946
7,941
8,095
7,960
7,887
7,975
8,012
7,959
7,924
7,975
8,031
8,007
7,987
7,993
8,044
8,179
7,955
7,951
8,039
8,091
8,034
8,000
8,018
8,086
8,096
8,031
8,083
8,117
8,229
8,056
8,060
8,138
8,198
8,158
8,135
8,188
8,212
8,317
8,291
8,357
8,357
8,404
8,231
8,214

4,923
4,941
4,937
4,943
4,934
4,948
4,948
5,006
5,079
5,088
5,038
5,051
5,044
5,056
5,051
5,061
5,118
5,130
5,153
5,175
5,171
5,163
5,134
5,141
5,148
5,180
5,175
5,193
5,181
5,190
5,197
5,213
5,216
5,224
5,239
5,244
5,261
5,269
5,287
5,327
5,335
5,335
5,323
5,300
5,342
5,353
5,385
5,392
5,373
5,378
5,390
5,398

112
86
86
86
86
73
73
75
75
66
244
223
216
200
185
125
118
111
92
67
64
52
31
180
174
144
118
95
85
85
78
47
36
36
36
8
7
225
225
213
214
160
123
113
76
241
85
8
4
5
135
135

315 Jan. 5.
216 Jan. 12.
192 Jan. 19.
168 Jan. 26.
178 Feb. 2.
153 Feb. 9.
172 Feb. 16.
189 Feb. 23.
205 Mar. 2.
185 Mar. 9.
169 Mar. 16.
203 Mar. 23.
213 Mar. 30.
180 Apr. 6.
173 Apr. 13.
205 Apr. 20.
209 Apr. 27.
230 May 4.
184 May 11.
227 May 18.
206 May 25.
245 June 1.
188 June 8.
173 June 15.
219 June 22.
259 June 29.
257 July 6.
188 July 13.
209 July 20.
196 July 27.
206 Aug. 3.
179 Aug. 10.
168 Aug. 17.
171 Aug. 24.
186 Aug. 31.
163 Sept. 7.
165 Sept. 14.
196 Sept. 21.
182 Sept. 28.
195 Oct. 5.
216 Oct. 12.
224 Oct. 19.
198 Oct. 26.
204 Nov. 2.
204 Nov. 9.
168 Nov. 16.
206 Nov. 23.
233 Nov. 30.
220 Dec. 7.
274 i Dec. 14.
292 ! Dec. 21.
260 Dec. 28.

954
957
955
965
970
968
961
978
977
991
993
1,012

222
206
203
206
202
204
207
197
206
206
211
240

12,876
12,907
13, 026
13,038
13,157
13,177
13, 226
13,281
13,381
13,487
13, 626
13, 686

7,940
7,948
7,966
7,967
8,000
8,024
8,041
8,063
8,115
8,157
8,272
8,301

4,936
4,959
5,060
5,071
5,157
5,153
5,185
5,218
5,266
5,330
5,354
5,385

93
77
165
157
84
116
96
47
116
177
105
70

223
173
195
192
212
217
212
182
176
208
203
261




3927

Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

117

118

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No.

54.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY—
[In millions of dollars]

Investments

Loans

Total
Date or month
and investments

L oiai

On securities

Total

U. S. se- Other securities
curities

1928
Jan. 4
Jan. 11
Jan.18
Jan. 25
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Feb. 29
Mar. 7 —
Mar. 14
Mar. 21
—
Mar. 28
Apr. 4
Apr. 11
Apr. 18
Apr. 25
May 2..
May 9
May 16
May 23
May 29..
June 6.
--June 13
June 20
June 27
July 3
July 11
July 18
July 25
Aug. 1 . . .
Aug. 8
Aug. 15
Aug. 22
Aug. 29
Sept. 5
Sept. 12
Sept. 19
Sept. 26
Oct. 3
Oct. 10__Oct. 17
Oct. 24
Oct. 31
Nov. 7
Nov.14
—
Nov. 21_
Nov. 28
Dec. 5
Dec. 12..
Dec. 19
Dec. 26
Monthly averages:
January
February
March
April
May
June
July
August
September
October. __„__.
November
December




14,964
15, 011
15,124
15,048

10, 270
10, 313
10,292
10,171
10, 224
10, 262
10, 248
10,229
10, 237
10, 309
10, 375
10, 369
10,370
10, 457
10, 546
10, 539
10, 466
10, 527
10, 546
10, 565
10, 548
10, 574
10,581
10, 644
10,625
10, 640
10,649
10,621
10,636
10,583
10, 633
10, 637
10,668
10, 623
10, 634
10, 640
10,676
10,694
10, 699
10,753
10, 769
10, 804
10, 787
10, 857
10,840
10,846
10, 830
10, 846
10, 881
10,936
10,951
10,885

4,108
4,120
4,133
4,041
4,078
4,096
4,068
4,082
4,073
4,107
4,139
4,149
4,152
4,220
4, 268
4,277
4,233
4,242
4,266
4,293
4,308
4,333
4,344
4,359
4,340
4,351
4,363
4,337
4,320
4,299
4,308
4,313
4,309
4,275
4,285
4,284
4,295
4,297
4,309
4,292
4,306
4,305
4,316
4,352
4,357
4,376
4,388
4,433
4,430
4,464
4,458
4,450

14, 452
14,443
14, 584
14, 793
14, 865
14, 897
14,837
14,846
14,849
14, 925
14, 928
15, 037

10, 261
10, 240
10,356
10,502
10, 552
10, 623
10, 622
10, 639
10,677
10, 794
10, 840
10, 913

4,100
4,079
4,137
4,249
4,288
4,349
4,330
4,298
4,296
4,314
4,388
4,450

14,430
14, 500
14, 499
14, 381
14, 431
14, 464
14, 454
14, 445
14,422
14,473
14. 540
14. 674
14,651
14,738
14, 822
14,838
14, 773
14.843
14.844
14,870
14,875
14,895
14,870
14, 927
14, 895
14,899
14, 903
14, 838
14,840
14, 766
14, 894
14, 854
14, 877
14, 804
14, 802
14, 796
14, 796
14, 917
14, 889
14, 887
14, 872
14,962
14, 926
14, 978
14, 933
14,928
14,923
14,927

6,163
6,192
6,159
6,130
6,146
6,166
6,181
6,148
6,164
6,202
6,236
6,220
6,218
6,237
6,278
6,262
6,233

4,159
4,187
4,208
4,210
4,207
4,202
4,206
4,215
4,185
4,163
4,165
4,305
4,280
4,281
4,276
4,299
4,307

1,844
1,875
1,905
1,917
1,920
1,914
1.911
1.900
1,866
1,849
1,837
1,944
1,919
1,912
1,924
1.942
1,951

2,315
2,312
2,303
2,293
2,287
2,288
2,295
2,315
2,319
2,314
2,329
2,361
2,362
2,369
2,353
2,357
2,356
2,359
2,358
2,371
2,375
2,401
2,356
2,359
2,356
2,362

6,237
6,286
6,285
6,289
6,287
6,284
6,315
6,284
6,324
6,324
6,359
6,348
6,349
6,356
6,381
6,397
6,390
6,460
6,463
6,498
6,471
6,506
6,483
6,470
6,443
6,413
6,451
6,472
6,494
6,435

4,316
4, 2S9
4,305
4,327
4,320
4,289
4,282
4,270
4,259
4,254
4,217
4,204
4,183
4,261
4,217
4,209
4,181
4,168
4,155
4,120
4,223
4,190
4,134
4,103
4,159
4,139
4,120

1,896
1,880
1,984
1,955
1,918
1,905
1,962
1,947
1,926

4,093
4,083
4,092
4,081
4,084
4,075
4,173
4,163

1,910
1,909
1,897
1,894
1,891
1,876
1,963
1,954

2,362
2,331
2,323
2,318
2,305
2,283
2,286
2,273
2,266
2,260
2,241
2,239
2,235
2,216
2,198
2,197
2,191
2,194
2,183
2,174
2,195
2,186
2,192
2,199
2,210
2,209

6,161
6,161
6,219
6,252
6,263
6,274
6,293
6,341
6,381
6,480
6,452
6,463

4,191
4,203
4,229
4,291
4,313
4,275
4,214
4,207
4,172
4,131
4,087
4,124

1,885
1,902
1,887
1,932
1,941
1,917
1,881
1,925
1,929
1,932
1,902
1,921

2,306
2,301
2,341
2,359
2,373
2,358
2,334
2,283
2,244
2,199
2,185
2,202

6,285
6,280
6,272
6,239
6,241

1,957
1,940
1,934
1,952
1,919
1,933
1,923
1,914
1,897
1,891
1,885
1,881
1,865
1,955
1,934
1,924
1,908
1,902

REPORTING MEMBER BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES,

1927-1930—Continued

[In millions of dollars]

Reserve
with
Federal
reserve
banks

Net demand plus time

Total

972
962
069
969
963
974
994
988
980
989
984
994
989
980
987
1,008
995
980

228
222
202
196
190
199
202
190
191
196
196
192
192
193
197
190
191
191
196
186
193
192
194
201
192
195
192
205
190
188
184
191
184
193
193
194
199
193
194
196
205
197
199
195
209
209
199
204

996
1,005
967
1,015

213
226
239
250

1,018
1,004
988
1,006
1,004
991
993
967
984
987
993
996

212
194
194
193
192
196
194
189
195
199
205
232

1,023
1,029
1.015
1,005
999
1,005
1,004
1,009
1,004
990
1,000
984
980
1,006
1,000
1,003
1,016
1,012
1,019
998
994
999
995
1, Oil
979
980
1,028
996
974
974

deposits

Cash in
vault

13, 789
13, 899
13,809
13, 737
13, 745
13, 734
13, 796
13,665
13, 666
13, 713
13, 800
13, 700 |
13,668 i
13,803
13, 901
13,877 1
13, 813
13, 886
13, 934
13,970
13,853
13,823
13,853
13, 952
13, 689
13, 638
13, 741
13, 736
13, 634
13, 52J
13, 575
13,484
13, 555
13,464
13,473
13,566
13,674
13, 618
13, 595
13, 700
13, 693
13,759
13, 652
13, 700
13,734
13,804
13, 746
13,694
13,749
13, 838
13, 724
13, 640
13,809
13, 721
13, 720
13, 849
13,893
13, 784
13, 660
13, 510
13, 613
.13,700
13, 745
13, 738 |

33454—31


Net demand

8,354
8,441
8,346
8,252
8,248
8,218
8,270
8,142
8,130
8,136
8,197
8,072

Time

BorrowGovern- ings at
ment de- Federal
reserve
posits
banks

8.229
8,148
8,216
8,232
8,267
8,151
8,103
8,136
8,223
7,990
7,933
8,022
8, 041
7,965
7,863
7,893
7,816
7,896
7,799
7,796
7,910
8,022
7,967
7,931
8,060
8,053
8,130
8,026
8,052
8,095
8,168
8,103
8,053
8,116
8,203
8,075
7,983

5,435
5,458
5,463
5,485
5,497
5,516
5,526
5,523
5,536
5,577
5,603
5,628
5,628
5, 614
5,639
5,648
5,665
5,670
5,702
5,703
5,702
5,720
5,717
5,729
5,699
5,705
5,719
5,695
5,669
5,666
5,682
5,668
5,659
5,665
5,677
5,656
5,652
5, 651
5, 664
5,640
5,640
5,629
5,626
5,648
5,639
5,636
5,643
5,641
5,633
5,635
5,649
5,657

195
159
153
124
98
79
56
151
121
72
48
133
98
94
64
50
51
38
13
3
181
144

269
196
239
177
224
245
238
281
313
280
285
309
275
305
315
378
373
405
379
396
428
500
510
538
505
547
644
528
574
575
599
583
577
569
589
565
555
556
549
545
534
519
532
542
533
533
493
538
542
573
562
637

8,349
8,202
8,111
8,207
8,194
8,071
7,973
7,840
7,957
8,064
8,105
8,094

5,460
5,519
5,609
5,642
5,699
5,713
5,687
5,670
5,656
5, 636
5, 640
5, 644

80
31
102
139
43
74
80
146
101
89
51
85

220
260
287
343
422
525
580
583
556
534
524
578

8,040
8,189
8, 262

115
87
63
56
54
30
24
24
24
7
7
197
196
192
165
118
82
76
51
35
27
27

150
144
116
87
67
51

Date or month

1928
Jan. 4.
Jan. 11.
Jan. 18.
Jan. 25.
Feb. 1.
Feb. 8.
Feb. 15.
Feb. 22.
Feb. 29.
Mar. 7.
Mar. 14.
Mar. 21.
Mar. 28.
Apr. 4.
Apr. 11.
Apr. 18.
Apr. 25.
May 2.
May 9.
May 16.
May 23.
May 29.
June 6.
June 13.
June 20.
June 27.
July 3.
July 11.
July 18.
July 25.
Aug. 1.
Aug. 8.
Aug. 15.
Aug. 22.
Aug. 29.
Sept. 5
Sept. 12.
Sept. 19.
Sept. 26.
Oct. 3.
Oct. 10.
Oct. 17.
Oct. 24.
Oct. 31.
Nov. 7.
Nov. 14.
Nov. 21.
Nov. 28.
Dec. 5.
Dec. 12.
Dec. 19.
Dec. 26.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

119

120

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No.

54.—REPORTING

MEMBER

BANKS OUTSIDE N E W

YORK

CITY—

[In millions of dollars]

Date or month

Total
loans
and investments

Investments

Loans

Total

On secu- All other
rities

Total

U. S. se- Other securities

curities

1929
J a n . 2__.
Jan. 9...
J a n . 16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 2 0 . .
Feb. 27__
Mar. 6
M a r . 13
Mar. 20
M a r . 27
_
Apr. 3
Apr. 10
Apr. 17..._
Apr. 2 4 . . .

15,065
15,045
15.102
15,056
15,026

-

May 1
May 8
M a y 15
M a y 22
M a y 29..
June 5
J u n e 12
J u n e 19
J u n e 26_
—
July 3
J u l y 10
July 17
J u l y 24
July 31
Aug. 7
Aug. 14
Aug. 21
Aug. 28
Sept. 4
Sept. 11
_.Sept. 1 8 Sept. 25
Oct. 2__
Oct. 9__
Oct. 16
Oct. 23
Oct. 30.
Nov. 6_
Nov. 13
Nov. 20.
Nov. 27
Dec. 4___
Dec. 11
Dec. 1 8 . . Dec. 24
Dec. 3 1 . M o n t h l y averages:
January
February
March
April
May
June
July
August...
September
October
November
December




15.068
15, 053
15,071
15,099
15,113
15,175
15, 241
15,177
15,156
15,117
15, 088
15,006
14, 981
14,929
14,962
14,885
14,900
14, 879
14, 904
15, 021
14, 997
14, 960
14,973
14,993
14, 957
15, 031
15, 069
15, 069
15, 069
15, 022
15, 045
15.103
15,200
15, 208
15, 266
15, 209
15, 268
15, 276
15,421
15, 415
15, 378
15, 297
15,166
15,107
15,013
15, 013
14, 998
14, 923
15, 059
15,073
15,176
15,092
14,931
14, 950
14,983
15, 058
15,139
15,288
15,314
15,011

10,966
10, 925
10, 935
10,898
10, 887
10, 933
10, 926
10,960
10, 997
11,009
11, 082
11,103
11, 073
11, 062
11, 034
11, 033
10,978
10, 962
10, 943
10, 964
10, 893
10, 903

4,559
4,551
4,624
4,622
4,651
4,701
4,698
4,701
4,710
4,714
4,762
4,809
4,740
' 4, 697
4,672
4,671
4,612
4,594
4,594
4,580
4,530
4,527

6,407
6,374
6,311
6,276
6,236
6,232
6,228
6,259
6,287
6,295
6,319
6,294
6,333
6,366
6,363
6,362

4,099
4,120
4,167
4,158
4,138

1,907
1,927
1,975
1,970
1,962

2,194
2,193
2,192
2,187
2,177

4,136
4,127
4,111
4,102

1,963
1,956
1,940
1,926
1,948
1,947
1,991
1,977

2,173
2,171
2,172
2,176

6,368
6,349
6,383
6,363
6,376
6,409
6,428
6, 445
6,439

4,104
4,093
4,136
4,105
4,094
4,084
4,055
4,027

1,969
1,939
1,931
1,923

2,156
2,145
2,145
2,128
2,124
2,145
2,124
2,103

4,019
3,984
3,998
3,993
3,997
3,952
3,930
3,943
3,929

1,923
1,904
1,910
1,913
1,879
1,867
1,850
1,872
1,841

2,096
2,081
2,088
2,079
2,119
2,084
2,081
2,071
2,087

6,438
6,461
6,490
6,490
6,502

3,878
3,849
3,831
3,803
3,823

6,516
6,540
6,566
6,567
6,610
6,640
6,647
6,630
6,671
6,661
6,669
6,686
6,769

3,800
3,779
3,768
3,759
3,748
3,732
3,760
3,741
3,714
3,695
3,688
3,674
3,677

1,820
1,800
1,793
1,777
1,774
1,774
1,772
1,768
1,761
1,756
1,749
1,769
1,753
1,739
1,724
1,712
1,707
1,692

6,761
6,769
6,761
6,717

3,659
3,667
3,651
3,637

1,686
1,671
1, 655
1,645

11, 491
11, 408
11, 429
11,399
11,392

4,995
4,942
4,886
4,812 |
4,816 i
4,795 I
4,876 |
4,886 I
4,906

2,058
2,050
2,037
2,025
2,049
2,026
2,008
2,000
1,997
1,991
1,983
1,991
1,988
1,975
1,972
1,976
1,967
1,985
1,973
1,997
1,997
1,992

6,675
6,613
6,553
6,513
6,485

3,615
3,604
3,585
3,599
3,531

1,628
1,614
1,631
1,621
1,520

1,987
1,990
1,954
1,979
2,010

10, 922
10,954
11,067
11,027
10,933
11,012
11,146
11,281
11,394
11,598
11,661
11,424

4,602 j
4,703
4, 756 I
4,663 i
4,565 !
4,582 I
4,670 I
4,734 I
4,762
4,906
4,909
4,856

6,321
6,251
6,310
6,364
6,368
6,430
6,476
6,547
6, 632
6,692
6,752
6, 568

4,136
4,119
4,109
4,065
3,998
3,938
3,837
3,776
3,745
3,690
3,654
3, 587

1,948
1,946
1,966
1,941
1,906
1,858
1,793
1,769
1,757
1,715
1,664
1,603

2,188
2,173
2,143
2,124
2,093
2, 081
2, 044
2,008
1,988
1,975
1,989
1,984

10, 928
10, 974
11, 078
11,068
11, 082
11, 125
11, 163
11, 155
11, 208
11, 269
11, 290
11, 301
11, 264
11,297
11,372
11, 439
11, 467
11, 552
11,513
11, 580
11,601
11, 743
11, 756
11,712
11, 646
11,529

4,519
4,546
4,633
4,631
4,644
4,663
4,674
4,666
4,705
4,754
4,751
4,735
4,696
4,688
4,732
4,790
4,837

|
i
!
|
|
;
!
|
I

4,881
4,851
4,911
4,915
4,974

KEPOKTING MEMBER BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930—Continued
[In millions of dollars]

Reserve
with
Federal
reserve
banks

Net demand plus time
deposits
Cash in
vault
Total

Net demand

Time

Government deposits

Borrowings at
Federal
reserve
banks

Date or month

1929

956
959
957
946
944
951
961
937
959
971
937
972
973
964
972
971
950
961
958
973
971
966
974
959
990
986
1,008
996
989
972
962
981
960
977
966
947

227
212
188
190
188
183
200
192
190
185
189
182
188
185
184
177
181
171
182
173
180
180
181
180
176
178
181
220
199
190
184
188
189
184
187
188
192
186
184
178
192
179
184
193
193
200
189
194
196
208
216
215
201

1,007
991
979
957
952
952
963
963
967
983
980
966

201
191
186
182
177
179
195
187
187
185
194
207

1,014
1,008
1,015
1,004
992
1,001
1,000
977
985
990
995
971
962
959
956
962
954

13,560
13,504
13,585
13,512
13, 600
13,584
13, 598
13,516
13, 456
13,556
13,669
13, 568
13, 531
13, 585
13, 482
13,686
13,642
13,870
13,776
13,715
13, 529
13,405
13,407
13,489
13,453
13,455
13, 642

8,023
8,137
7,991
7,913
7,831
7,850
7,913
7,817
7,900
7,840
7,972
7,740
7,667
7,731
7,901
7,795
7,780
7,952
7,916
8,027
7,943
8,038
8,023
8,019
7,945
7,879
7,954
8,079
7,986
7,942
8,016
7,934
8,136
8,016
8,259
8,177
8,201
8,044
7,920
7,931
8,003
" 7,961
7,927
8,090

5,682
5, 694
5,703
5,707
5,693
5,690
5,697
5,694
5,702
5,704
5,689
5,645
5,640
5,643
5,627
5, 632
5,622
5,611
5,614
5,614
5,620
5,611
5,609
5,587
5,578
5,601
5,608
5,588
5,558
5,569
5,562
5,561
5,579
5,571
5,577
5,602
5,590
5,582
5,589
5,569
5,548
5,550
5,626
5,611
5,599
5,514
5, 485
5,485
5,476
5, 486
5,492
5,528
5,552

122
81
66
60
61
36
31
31
26
4
4
176
176
167
149
96
86
83
62
61
57
57
34
27
188
188
145
116
114
66
63
37
33
33
28
8

13, 870
13,784
13, 685
13,484
13, 438
13, 396
13, 552
13, 538
13, 581
13, 653
13, 607
13,489

8,174
8,088
8,016
7,853
7,824
7,802
7,975
7,967
7,990
8,072
8,086
7,982

5,696
5,696
5,669
5,631
5,614
5,594
5,577
5,571
5,591
5,581
5,521
5,507

13,983
13,895
13,923
13, 793
13, 754
13, 748
13,908
13, 741
13,740

8,301
8.201
8,220
8,036
8,061
8,058
8,211
8,047
8,038

13,727
13,826
13, 636
13, 553
13,474
13,477
13,545
13, 439
13, 511
13,454
13,586
13,360
13,278
13,340
13,488
13,373
13,381




531
453
457
473
452
505
495
534
578

Jan. 2.
Jan. 9.
Jan. 16.
Jan. 23.
Jan. 30.
Feb. 6.
Feb. 13.
Feb. 20.
Feb. 27.

162
162
162
149
114
94
91
59
55
42
36
23
19
88
73
65

560
577
585
575
631
548
550
521
546
495
460
503
577
540
492
504
487
485
509
465
466
485
475
535
542
532
544
543
531
541
609
566
564
513
559
598
648
564
570
546
427
380
395
299

Mar. 6.
Mar. 13.
Mar. 20.
Mar. 27.
Apr. 3.
Apr. 10.
Apr. 17.
Apr. 24.
May 1.
May 8.
May 15.
May 22.
May 29.
June 5.
June 12.
June 19.
June 26.
July 3.
July 10.
July 17.
July 24.
July 31.
Aug. 7.
Aug. 14.
Aug. 21.
Aug. 28.
Sept. 4.
Sept. 11
Sept. 18.
Sept. 25.
Oct. 2.
Oct. 9.
Oct. 16.
Oct. 23.
Oct. 30.
Nov. 6.
Nov. 13.
Nov. 20.
Nov. 27.

78
31
90
124
64
109
101
33
83
122
48
54

473
528
574
563
516
505
482
521
540
561
594
410

Dec. 4.
Dec. 11.
Dec. 18.
Dec. 24.
Dec. 31.
Monthly averages:
January.
February.
March.
April.
May.
June.
July.
August.
September.
October.
November.
December.

121

122

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No.

54.—REPOKTING MEMBER BANKS OUTSIDE N E W YORK C I T Y
[In millions of dollars]

Date or month

1930
Jan. 8
Jan. 15
Jan. 22
Jan. 29
Feb. 5
Feb. 12
Feb. 19
Feb. 26
Mar. 5
Mar. 12
Mar. 19
Mar. 26
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23
July 30
Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22
Oct. 29
Nov. 5
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10
Dec. 17
Dec. 24
Dec. 31
Monthly averages:
January
February
March..,
April
May
June
July
_
August
September
October
November
December




Total
loans
vestments

Total

14,787
14,737
14,657
14,637
14,581
14,581
14,607
14,591
14,603
14,637
14, 767
14,807
14,783
14,836
14,854
14,861
14,806
14,804
14, 784
14,830
14,823
14,823
14,907
14,986
14,911
14, 957
15,008
15, 091
15,025
15, 034
15,027
15,024
15,060
15,015
15,007
15,124
15,192
15, 205
15,142
15, 061
15.087
15.110
15, 081
15,054
15.071
15,042
14,969
14,964
14, 961
15,082
14,940
14,804

11,203
11,154
11,069
11,035
10,981
10,981
10,941
10,929
10,966
11,004
11,059
11,075
11,019
11,049
11,060
11,044
10,995
10,983
10,941
10,958
10,909
10,916
10,979
10,999
10, 901
10, 902
10,953
10, 962
10,900
10,895
10,869
10.855
10. 828
10, 783
10, 772
10,880
10, 911
10,879
10, 769
10,686
10,689
10, 670
10,648
10,668
10,646
10,622
10,538
10,541
10, 530
10, 552
10,450
10,404

4,857
4,884
4,838
4,815
4,771
4,770
4,756
4,751
4,784
4,818
4,894
4,903
4,851
4,878
4,921
4,918
4,870
4,850
4,839
4,866
4,856
4.845
4,927
4,882
4,783
4,783
4,861
4,880
4,835
4,805
4,776
4,764
4.762
4,743
4,705
4,801
4,855
4,835
4,679
4,600
4,611
4,585
4,565
4,550
4,527
4,486
4,419
4,428
4,459
4,499
4,413
4,376

14, 705
14, 590
14, 703
14,828
14,810
14,907
15, 023
15,031
15,132
15, 096
15,034
14,950

11,115
10,958
11,026
11,033
10,948
10,949
10,922
10,834
10,860
10,692
10, 618
10, 495

4,849
4,762
4,850
4,888
4,853
4,859
4,833
4,761
4,799
4,608
4,496
4,435

.Loans

Investments

On secu- All other
rities

Total

I U. S. se- Other se| curities curities

6,346
6,270
6,232
6,220
6,211
6,211
6,184
6,178
6,181
6,186
6,165
6,172
6,168
6,171
6,139
6,126
6,125
6,132
6,102
6,092
6,053
6,072
6,053
6,117
6,118
6,119
6,092
6,082
6,065
6,090
6.093
6,091
6,066
6,040
6,067
6,078
6,055
6,044
6,090
6.086
6,078
6,085
6,084
6,117
6,119
6,136
6,119
6,113
6,071
6,054
6,037
6,028

3,584
3,583
3,587
3,602
3,600
3,600
3,666
3,662
3,637
3,634
3,707
3,732
3,763
3,787
3,794
3,817
3,811
3,822
3,843
3,871
3,914
3,907
3,928
3,988
4,010
4,056
4,055
4,130
4,125
4,139
4.158
4,169
4,232
4,232
4,234
4,244
4,282
4,326
4,373
4,375
4,398
4,440
4,433
4,386
4,425
4,421
4,431
4,424
4,432
4,529
4,490
4,400

I
|

6,267
6,196
6,176
6,146
6,095
6,090
6,090
6,072
6,061
6,085
6,123
6,061

3,589
3,632
3,677
3,795
3,862
3,958
4,101
4,198
4,272
4,403
4,416
4,455

I

I
!

i
I

1,609
1,614
1,622
1,629
1,633
1,695
1,693
1,664
1,656
1, 715
1,724
1,730
1,737
1,735
1,754
1,740
1,738
1,739
1,745
1,732
1,733
1,727
1,775
1,764
1,756
1,772
1,819
1,820
1,809
1,798
1,795
1,832
1.833
1,835
1,832
1,863
1,885
1,908
1,921
1,917
1,930
1,924
1,889
1,912
1,905
1,889
1,878
1,873
1,978
1,922
1,810

1,975
1,969
1,965
1,973
1,971
1,966
1,971
1,969
1,973
1,978
1,992
2,008
2,034
2,051
2,059
2,064
2,072
2,083
2,104
2,127
2,182
2,174
2,201
2,213
2,246
2, 300
2,283
2,311
2,305
2,330
2,359
2,374
2,400
2,399
2,399
2,412
2,419
2,441
2,464
2,454
2,481
2,509
2,509
2,498
2,513
2,516
2,542
2,546
2,558
2, 552
2.568
2,590

1,619
1,662
1,690
1,739
1,739
1,750
1,795
1,815
1,854
1,920
1,899
1,892

1,970
1,969
1,988
2,056
2,124
2,208
2,306
2,383
2,418
2,483
2,517
2,563

1,629

REPORTING MEMBEK BANKS IN LEADING CITIES
PRINCIPAL RESOURCES AND LIABILITIES,

1927-1930—Continued

[Tn millions of dollars]

982
960
984
962
955
946
953
949
960
978
940

Net demand plus time
deposits
Cash in
vault
Total

198
187
179
181
173
176
182
172
169
174
166
166
161
169
162
174
167
171
176
168
177
174
175
168
169
175
182
167
166
168
160
16S
159
165
163
170
161
165
156
167
165
166
169

13,479
13,517
13,445
13,362
13,333
13,393
13, 393
13,361
13,395
13, 529
13,469
13, 618

992
986
995
991
962
992
990
1,004
990
996
1,024
1,028
998
993
998
1,002
1,025
1,006
1,020
1,017
1,027
996
985
1,008
1,033
1,001
1,005
995
1,013
999
983
1,011
1,008
1,013
990
1,018

174
190
203
214
202

13, 621
13,642
13,740
13,670
13,666
13,653
13, 751
13, 734
13, 651
13,777
13,895
13,808
13,719
13, 956
13,998
14,175
14, 038
14,005
14, 008
14, 063
14,041
13, 970
14,051
14,180
14,138
14,042
14,114
13,996
14,148
13,990
13,949
14, 061
14,190
14, 002
13, 933
13, 968
13,961
13,880
13,688
13,797

972
951
962
981
984
994
1,008
1,008
1,015
1,006
998
1,008

186
176
169
167
173
171
171
163
165
164
173
197

13,451
13,370
13, 503
13, 668
13,697
13,799
14, 035
14,020
14,102
14, 040
14,046
13,859

963

171
179
171
172




Net demand

Time

7,939
7,938
7,825
7,724
7,711
7,760
7,766
7,717
7,754
7,876
7,798
7,884
7,902
7,908
8,017
7,970
7,956
7,944
8,023
7,972
7,880
7,993
8,112
8,037
7,905
8,080
8,107
8,228
8,082
8,090
8,070
8,110
8,069
7,975
8,016
8,145
8,093
7,968
8,034
7,934
8,102
7,960
7,893
8,008
8,125
7,957
7,885
7,974
7,966
7,916
7,771
7,928

5,540
.5,579
5,620

7, 857
7,739
7,828
7,951
7,955
8,011
8,118
8,056
8,055
7,985
7,994
7,911

5,594
5,631
5,675
5,717
5,742
5,788
5,917
5,964
6,047
6,055
6,052
5,948

BorrowGovern- ings at
ment de- Federal
reserve
posits
banks

5,622
5,633
5,627
5,644
5,641
5,653
5,671
5,734
5,719
5,734
5,723
5,700
5,710
5,709
5,728
5,762
5,771
5,784
5,783
5,771
5,814
5,876
5,891
5,947
5,956
5,915
5,938
5,953
5,972
5, 995
6,035
6.035
6,045
6,074
6,080
6,062
6,046
6,030
6,056
6, 053
6,065
6,045
6,048
5,994
5,995
5, 964
5,917
5,869

180
153
140
111
91
70
63
34
34
34
34
19
13
142
142
129
98
90
80
73
43
30
30
30

135
135
135
109
106
91
84
53
36
25
25

205
LO4

169
31
7
83
95
34
79
94
34
70
105
35
108

Date or month

1930
Jan. 8.
Jan. 15.
Jan. 22.
Jan. 29.
Feb. 5.
Feb.12.
Feb.19.
Feb. 26.
Mar. 5.
Mar. 12.
Mar. 19.
Mar. 26.
Apr. 2.
Apr. 9.
Apr. 16.
Apr. 23.
Apr. 30.
51 May. 7.
47 May 14.
43 May 21.
52 May 28.
45 June 4.
48 June 11.
44 June 18.
54 June 25.
84 July 2.
67 July 9.
45 July 16.
32 July 23.
35 July 3.
36 Aug. 6.
38 Aug. 13.
44 Aug. 20.
40 Aug. 27.
43 Sept. 3.
37 Sept. 10.
28 Sept. 17.
33 Sept. 24.
44 Oct. 1.
37 Oct. 8.
47 Oct. 15.
58 Oct. 22.
62 Oct. 29.
54 I Nov. 5.
61 I Nov. 12.
62 Nov. 19.
84 Nov. 26.
93 I Dec. 3.
87 Dec. 10.
135 ! Dec. 17.
181 Dec. 24.
Dec. 31.
| Monthly averages:
208
January.
February.
152
March.
80
April.
54
May.
48
June.
48
July.
53
August.
39
September.
35
October, ii.
50
November.
65
December.
115
268
215
176
173
162
148
149
151
126
96
51
47
67
45
49
49
62

ooo

Reserve
with
Federal
reserve
banks

123

124

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No, 55.—REPORTING
MEMBER
BANKS—BANKER'S
BALANCES,
TOTAL, N E W YORK CITY, OTHER LEADING CITIES

BY

WEEKS:

[In millions of dollars]
Due to banks
1930
Total

Due from banks

New York Other leadCity
ing cities

Total

New York Other leading cities
City

Jan. 8.
Jan.15
Jan. 22..
Jan. 29

2,937
2,910
2,736
2,729

986
987
866
885

1,951
1,922
1,869
1,844

1,130
1,131
1,078
1,028

83
84
78
75

1,047
1,047
1,000
953

Feb.
Feb.
Feb.
Feb.

5
12
19...
26

2,899
2,848
2,734
2,790

950
911
844
904

1,949
1,937
1,890
1,886

1,110
1,131
1,104
1,082

77
76
78
74

1,033
1,055
1,026
1,008

Mar.
Mar.
Mar.
Mar.

5..
12
19
26

2,910
2,827
2,933
2,922

943
897
982
983

1,966
1,930
1,951
1,938

1,098
1,113
1,219
1,204

77
112
107

1,021
1,031
1,107
1,098

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9
16
23..
30

3,061
2,954
2,961
2,797
2,930

1,039
975
975
891
1,030

2,021
1,979
1,986
1,905
1,900

i
1,232 1
1,130
1,194
1,155
1,188 \

122
105
102
125
147

1, 110
1,026
1,092
1,029
1,041

May
May
May
May

7
14
21...
28.

2,924
2,935
2,825
2,798

949
942
908
927

1,974
1,993
1,917
1,871

1,181 :
1,237
1,187
1,137

141
112
106
96

1,040
1,125
1,081
1,042

3,064
2,975
3,117
3,098

1,027
952
1,010
1,047

2,036
2,023
2,108
2,051

1,250
1,243
1,375
1,358

101
109
118
113

1, 149
1,134
1, 257
1, 245

3,401
3,392
3,394
3,467
3,365

1,131
1,103
1,061
1,132
1,072

2,270
2,289
2,333
2,335
2,293

1,583
1,484
1,604
1,653
1,565

142
110
96
90
93

1,440
1,373
1, 507
1,563
1,471

3,382
3,362
3,291
3,302

1,034
1,004
976
980

2,347
2,358
2,316
2,322

1,518
1,564
1,478
1,502

96
94
87
83

1,422
1,471
1,391
1,419

Sept. 3
Sept. 10.
Sept. 17
Sept. 24

3,494 ;
3,438
3,590
3,497

1,091
1,017
1,109
1,086

2,403
2,421
2,481
2,411

1,579
1,569
1,680
1,635

92
85
101
96

1,488
1,484
1,579
1,539

Oct.
Oct.
Oct.
Oct.
Oct.

3,664
3, 604
3,639
3, 389
3,427

1,224
1,147
1,160
1,099
1,138

2,439
2,457
2,478
2,290
2,290

1,657
1,645
1,696
1,509
1,568

122
108
106
90
90

1,536
1,537
1,590
1,419
1,478

3,606
3, 593
3,499
3,413

1,230
1,183
1,174
1,215

2,376
2,410
2,325
2,198

1,627
1,672
1,658
1,531

92
97
91
79

1,535
1,575
1,567
1,452

3,455
3,339
3,434
3,203
3,539

1,185
1,104
1,211
1,090
1,317

2,270
2,234
2,222
2,113
2,222

1,526
1,492
1,481
1,407
1,617

92
78
99
94
132

1,435
1,414
1,382
1,313
1,485

...

.

.

.

.

June 4 . .
June 11
June 18.
June 25
Julv 2
July 9
July 16 .
July 23
July 30...
Aug.
Aug.
Aug.
Aug.

. .
. .
.

8
13
20
27...

1
8 .
15
22
29

Nov.
Nov.
Nov.
Nov.

5.
12
19.
26

Dec.
Dec.
Dec.
Dec.
Dec.

3—.
10
17
24
31—

.-

Back figures.—See Annual Reports for 1929 (Table 53) and 1928 (Table 56), and Federal Reserve Bulletin for March and January, 1929.




125

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
BROKERS' LOANS
No.

56.—LOANS TO BROKERS AND DEALERS, SECURED BY STOCKS AND BONDS,
MADE BY REPORTING MEMBER BANKS IN N E W YORK CITY, BY W E E K S
[In millions of dollars]
Demand loans

Demand and time loans
1930
Total

For
For
For
own out of
town others Total
account banks1!
2,925
2,949
2,920
2,910
3,029
3,068
3,137
3,116
3,175
3,302
3,387
3,337

745
707
666
649
752
742
803
778
796
930
1,014
1,148

1, 316
1,339
1,392
1,436
1,397
1, 341
1,320
1,290
1,257
1,195
1,146
1,031
939

3,474
3,480
3,611
3, 663
3,697
3,450
3,376
3,391
3,380
3,469
3,383
3,175
2,787

1,260
1,170
1,193
1,229
1,338
1,205
1,202
1,246
1,340
1,475
1,374
1,432
1,321

856
880
847
832
814
801
804
807
782
768
759
746
719

2,580
2,579
2,634
2,624
2,618
2,578
2,513
2,489
2,462
2,498
2,542
2,631
2,639

1,251
1,114
1,154
1,184
1,227
1,249
1,165
1,128
1,189
, 284
1,189
1,221
1,300

952
949
942
996
1,035
1,121
1,063
1,055
1,133
1,179
1,161
1,130
1,071
1,018
1,019
938
951
1,010
865
671
607
714
759
733
702
649
659
668
610
560
711
781
730

602
555
514
511
502
469
451
439
380
373
400
395
294
235

627
610
536
512
500
473
449
455
455
442
430
430
363
370

2,453 1,383
2,298 1,283
2,149 1,244
2,020 1,141
1,905 1,046
1,847 1,041
1,643
873
1,602
833
1,563
849
1,557
858
1,551
833
1,475
755
1,408
844
1,446
924

862
971
1,100
1,183
1,062
917
747
692
750
537
435
339

1,644
1,546
1,430
1,376
1,302
1,078
816
798
748
557
458
407

3,352
3,365
3,341
3,345
3,402
3,450
3,494
3,583
3,720
3,841
3,820
3,968
3,994
4,124
4,217
4,274
4,074
4,007
4, 015
4,022
4,101
3,998
3,787
3,416

853
814
823
928
924
962
953
1,006
1,146
1,266
1,424
1,547
1,471
1,503
1,568
1,695
1,611
1,618
1,655
1,777
1,911
1,799
1,850
1,764

July 2 . . .
July 9 . . .
July 16..
July 2 3 . .
July30_.
Aug. 6..Aug. 13—
Aug. 2 0 Aug. 27—
Sept. 3._
Sept. 10.
Sept. 17.

3,219
3,203
3,243
3,226
3,228
3,214
3,155
3,128
3,102
3,110
3,143
3,222
3,222

1,710
1, 563
1,596
1,619
1,669
1,719
1,646
1,607
1,665
1,721
1,614
1,649
1,721

824
877
874
875
927
989
987
980
1,032
1,079
1,171
1,118
1,104
1,184
1,230
1,213
1,183
1,123
1,069
1,069
988
995
1,053
906
713
654
760
799
776
745
694
705
714
655
620
770
826
782

Oct. 1
Oct. 8
Oct. 15-.
Oct. 22
Oct. 29__
Nov. 5
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10
Dec. 17
Dec. 24..
Dec. 31

3,063
2,905
- 2,752
2,613
2,512
2,454
2,235
2,185
_. 2,122
2,111
2,099
- 2,008
1,920
1,926

1,834
1,740
1,702
1,590
1,510
1,512
1,335
1,292
1,288
1,296
1,269
1,184
1,262
1,321

Averages:
January
February
March.
April
May
June
July
August
SeptemberOctober
November—
December.._

3,351
3,459
3,741
4,115
4,030
3,825
3,224
3,150
3,174
2,769
2,249
2,013

844
942
1,210
1,557
1,665
1,831
1,631
1,659
1,676
1,675
1,357
1,266

For
For
own out of For
town others Total
account banks ]

1,642
1,636
1,653
1,648
1,547
1,536
1,545
1,556
1,545
1,494
1,404
1,278

Jan.8...
Jan. 15...
Jan.22._
Jan. 29._
Feb. 5 . . .
Feb. 12..
Feb. 19..
Feb. 26..
Mar. 5 . . .
Mar. 12__
Mar. 19..
Mar. 26..
Apr. 2 . . .
Apr. 9 . . .
Apr. 16..
Apr. 2 3 . .
Apr. 30__
M a y 7—.
May 14May 21..
M a y 28..
June 4 . . .
June U__
June 18..
June 25 _ .

2,926
3,087
3,300
3,585
3,399
3,204
2,607
2,511
2,577
2,165
1,664
1,487

Time loans

769
972
1,238
1,248
1,401
1,186
1,183
1,249
1,220
899
843

782
836
834

1,399
1,406
1,420
1,425
1,389
1,374
1,386
1,396
1,382
1,337
1,252
1,126

For

For

o w n out of For
ac- town others
count banks1

546
503
463
459
450
417
401
391
334
329
356
353
259
203

142
146
148
174
176
182
159
175
210
216
252
276
288
301
310
339
357
406
416
410
437
437
425
418
443
458
449
443
435
442
469
481
479
477
437
425
428
420
451
457
458
449
464
471
462
459
438
438
436
429
418
397

42
41
39
39
38
38
39
38
35
44
50
55
50
51
51
52
53
52
52
51
50
44
43
41
42
47
46
40
43
44
45
45

664
653
642
629
609
524
512
442
420
409
389
369
377
379
371
362
367
305
319

427
416
420
435
373
382
357
373
408
417
454
483
494
513
514
554
577
623
631
624
642
632
615
612
629
639
624
608
603
610
635
642
639
639
612
602
591
583
609
608
603
593
607
606
592
583
560
554
547
534
512
480

822
933
1,054
1,132
1,011
874
703
646
695
484
386
300

1,412
1,386
1,274
1,216
1,140
929
718
682
633
461
379
345

425
371
440
530
630
622
617
639
597
604
585
525

152
173
238
319
417
431
445
477
427
456
457
424

40
38
46
51
51
42
44
45
54
53
49
39

1,159
1,178
1,239
1,274
1,228
1,175
1,157
1,127
1,102
1,044
998
878
795
722
751
721
707
690
681

46
45
60
60
46
52
56
53
51
52
52
52
50
48
45
44
44
42
35
33

243
229
233
223
158
162
159
160
163
158
152
152
157
161
153
162
168
166
163
164
155
151
147
153
144
134
129
125
125
125
121
115
114
117
115
117
117
110
103
98
94
92
91
84
79
77
76
72
68
63
58
50
232
160
156
160
162
149
128
117
115
96
79
62

i Member and nonmember banks outside New York City (domestic banks only); includes unknown
amount for customers of these banks.
Back figures—-See Annual Reports for 1929 (Table 54), 1928 (Table 57), and 1927 (Table 46).
for FRASER

Digitized


126

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 57.—BROKERS' BORROWINGS, 1926-1930

[Net borrowings on collateral in New York City as reported by members of the New York Stock Exchange]
[In millions of dollars]
On demand and on time

On demand

On time

From
New
York
banks
and
trust
companies

From
private
bants,
brokers,
foreign
banking
agencies, etc.

From
New
York
banks
and
trust
companies

From
New
York
banks,
trust
companies,
etc.

Date
Total

Total

From
private
banks,
brokers,
foreign
banking
agencies, etc.

1926
Jan.30
Feb. 27
Mar. 3 1 . . . .
Apr. 30
May 31
June 30
July 31
Aug. 31
Sept. 3 0 . . . .
Oct. 30
Nov. 3 0 . . . .
Dec. 31

3,513
3,536
3,000
2,836
2,767
2,926
2,998
3,142
3,219
3,111
3,129
3,293

3,043
3,080
2,553
2,468
2,392
2,509
2,583
2,698
2,745
2,668
2,636
2,804

470
455
447
367
375
417
415
444
474
444
493
489

2,517
2,495
2,033
1,970
1,987
2,225
2,283
2,364
2,419
2,289
2,330
2,542

2,123
2,123
1,678
1,699
1,703
1,852
1,918
1,984
2,021
1,924
1,932
2,128

394
372
355
271
285
374
365
379
398
365 I
397
414

1927
Jan.31
Feb. 28
Mar. 3 1 . . . .
Apr. 30
May 31
June 30
July 30
Aug. 3 1 . —
Sept. 3 0 . —
Oct. 31
Nov. 3 0 . . Dec. 31

3,139
3,256
3,290
3,341
3,458
3,569
3,642
3,674
3,915
3,946
4,092
4,433

2,670
2,757
2,790
2,865
2,968
3,065
3,145
3,170
3,340
3,363
3,519
3,812

469
499
500
476
490
504
497
504
575
583
573
621

2,328
2,475
2,505
2,541
2,674
2,757
2,765
2,746
3,018
3,023
3,134
3,481

1,964
2,085
2,112
2,146
2,254
2,316
2,343
2,330
2,539
2,549
2,675
2,963

4,420
4,323
4,640
4,908
5,274
4,898
4,837
5,051
5,514
5,880
6,392
6,440

3,805
3,737
3,947
4,246
4,568
4,169
4,150
4,260
4,647
4,994
5,412
5,401

615
585
693
662
707
730
687
791

1,039

3,393
3,294
3,580
3,739
4,070
3,742
3,768
4,094
4,690
5,116
5,614
5,722

6,735
6,679
6,804
6,775
6, 665
7,071
7,474
7,882
8,549
6,109
4,017
3,990

5,664
5,619
5,713
5,580
5,482
5,797
6,154
6,492
7,077
5,313
3,432
3,370

1,071
1,060
1,091
1,194
1,183
1,275
1,320
1,390
1,472
79G
585
620

3,985
4,168
4,656
5,063
4,748
3,728
3,689
3,599
3,481
2,556
2,162
1,894

3,368
3,529
4,026
4,409
4,139
3,201
3,227
3,109
3,057
2,299
1,929
1,694

61G
639
631
654
609
627
462
489
425
257
234
199

1928
Jan.31
Feb. 29
Mar. 3 1 . . . .
Apr. 30
May 31
June 30
July 31
Aug. 31
Sept. 29__._
Oct. 31
Nov. 3 0 . . . .
Dec. 31
1929
Jan.31
Feb. 28
Mar. 30
Apr. 30
May 31
June 29
July 31
Aug. 31
Sept. 30
Oct. 31
Nov. 30
Dec. 31
1930
Jan. 31
Feb. 28
Mar. 31
Apr. 30
May 31
June 30
July 31
Aug. 30
Sept. 30_...
Oct. 3 1 . . . . .
Nov. 29
Dec. 31

otal

996
1,041
967
866
780
701
715
778
800
822
800
751

920
958
875
770
690
657
665
713
724
743
704
676

365
391
393
395
420
441
421
415
479
475
459
518

810
781
785
800
784
812
877
928
897
923
958
952

707
673
679
719
713
749
802
840
801
814
844
849

2,882
2,807
3,016
3,201
3,455
3,122
3,183
3,420
3,939
4,360
4,771
4,810

511
488
564
537
616
619
585
674
751
756
843
913

1,027
1,028
1,060
1,169
1,204
1,157
1,070
958
824
764
777
717

923
931
931
1,045
1,113
1,046
967
840
709
634
641
591

5,983
5,948
6,210
6,204
6,100
6,444
6,870
7,162
7,832
5,238
3,297
3,376

5,043
5,034
5,231
5,154
5,061
5,333
5,705
5,962
6,543
4.639
2,873
2,883

939
914
979
1,050
1,039
1,111
1,165
1,200
1,289
599
424 1
494

752
730
594
571
565
627
604
720
717
871
719
613

621
584
482
427
422
464
449
530
534
674
559
487

3,528
3,711
4,052
4.363
3,967
2,980
3,021
2,913
2,830
1,987
1,691
1,519

3,007
3,162
3,519
3,819
3,464
2,521
2,607
2.481
2,451
1,770
1,481
1,340

521
548
533 i
543 I
503
459
414
431
380
217
210
179
I

457
457
604
700
781
747
668

361
367
506
590
675
680
620

OQf>
OoO

ftOfi
DAO

651
569
471
374

From
private
banks,
foreign
banking
agencies, etc.

606
530
447
354

Back figures.—See Annual Report for 1927 (Table 47) for figures for 1918-1922; figures for 1923-1925 not

available.



127

BROKERS' LOANS

No. 58,—MEMBER BANK LOANS ON SECURITIES TO BROKERS (AND DEALERS
IN SECURITIES) IN N E W YORK CITY, 1928-1930
[In millions of dollars]
TotalAll
member
banks

1,899
2,556

1928— Oct
Dec 31
1929—Mar 27
June 29
Oct 4
D e c . 31

-

-

. . .

1930—Mar. 27
June 30
Sept 24
Dec. 31

_._

880
1,639

1,879
2,025
1,885
1,660

Call date

Member
banks in
New
York
Cityi

2,344
2,365
2,472
1,498

Member banks outside New York City
In Chicago i

In other
reserve
cities

1,019
917

119
75

522
465

378
376

1,102
1,359
1,096
1,202

777
666
789
459

18
48
59
11

405
302
354
239

354
316
376
208

1,477
1,883
1,714
1,281

868
482
757
217

140
99
233
45

469
253
409
123

258
129
115
49

Total

Outside
reserve
cities

i Central reserve city banks only.
No. 59.—MEMBER BANK LOANS ON SECURITIES TO BROKERS (AND DEALERS IN
SECURITIES) OUTSIDE N E W YORK CITY, 1928-1930
[In millions of dollars]

Call date

Total— Member
All mem- banks in
New
ber
York
banks
City i

Member banks outside New York City

Total

In Chicago i

In other
reserve
cities

Outside
reserve
cities

1928—Oct. 3 Dec. 31,

850
975

804
925

252
309

435
509

117
107

1929—Mar. 27.
June 29.
Oct. 4—
Dec. 31.

1,014
921
939
803

962
858
893
748

311
242
257
240

511
510
425

114
105
125
83

1930—Mar. 27
June 30.
Sept. 24
Dec. 31.

706
819
774
675

646
750
687
571

194
229
239
201

431
360
312

93
90
88
59

i Central reserve city banks only.




104

128

ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD

BANKERS' ACCEPTANCES AND COMMERCIAL PAPER
OUTSTANDING
No. 60.—BANKERS'

ACCEPTANCES

AND

COMMERCIAL

PAPER

OUTSTANDING,

1922-1930
[In millions of dollars]
Commercial paper outstanding 2

Bankers' acceptances outstanding i
End of
month
1925

1926

January
February
March
April

835
808
800
757

788
767
746
721

May
June
July..
August

680
608
569
555

SeptemberOctober
November...
December-..

607
674
690
774

1927

1928

1929

1930

774
785
809
811

1,058
1,056
1,085
1,071

1,279
1,228
1,205
1,111

1,693
1,624
1,539
1,414

820 654
820 655
813 i 668
801 | 663

404
457
529
553

685
622
600
583

775
751
741
782

1,041
1,026
978
952

1,107
1,113
1,127
1,201

I
!
I
I

1,382
1,305
1,350
1,339

776
759

541
527
528
526

614
682
726
755

864
975
1,029
1,081

1,004
1,123
1,200
1,284

1,272
1,541
1,658
1,732

I
I
i
I

1,367
1,508
1,571
1,556

1922 1923 1924 1925 1926 1927 1928 1929 1930

722
915
925

708
684

'98

513
485
448
357

621

i Figures collected and compiled by American Acceptance Council. Figures for earlier years as follows.
March, 1922, $416,000,000; March, 1923, $524,000,000; March, 1924, $618,000,000; December, 1924, $821,000,000:
* Paper maturing within 7 months. Figures reported by about 25 dealers to the Federal Reserve Bank
of New York.
No. 61.—DOLLAR BANKERS' ACCEPTANCES OUTSTANDING, BY CLASSES

1

[In thousands of dollars]
Imports and exports

End of month

Total
Total

January
February
March
April

1930

[ Imports Exports

Domestic

Warehouse
credits

on goods
stored
in or
Dollar
shipped
exchange between
foreign
countries

1,692,794
1,623,899
1, 539,286
1,413, 717

846,032
809,626
779, 207
724, 877

336, 213
334,840
313, 674
295, 686

509,819
474,786
465, 533
429,191

20,064
25,831
15,038
18,139

288,995
256,051
219,497
170,866

67,188
62,829
58,206
56,563

470, 515
469, 563
467, 337
443,272

May
June
July
August

1,382,207
1,304,831
1,349, 695
1,339,384

700,904
648,903
639, 653
612,413

294, 608
276, 087
259 987
254', 942

406, 296
372,816
379, 666
357,471

20,672 157.931
19,115 I 144,929
29,415 137,098
26, 252 145, 286

60, 913
50,120
48,487
53,819

441,786
441, 764
495, 042
501, 615

September
October
November
December

604,500
1,366,734
651,198
1, 508,244
1,571,418 ! 664,394
1,555,966 i 636,113

240,916
244,107
242.684
220, 972

363,584
407,091
421,710
415,141

26.536 174,046
31.341 i 234,989
33,604 I 273,613
34,726 I 271,484

63,107
57,812
56,055
52,202

498,545
532,904
543,751
561,443

—

1 Figures collected and compiled by American Acceptance Council.
Back figures.—See Annual Reports for 1929 (Table 57), 1928 (Table 60), and 1927 (Table 49).




BANKERS'

129

ACCEPTANCES

No. 62.—DOLLAR BANKERS' ACCEPTANCES HELD BY GROUP OF ACCEPTING
BANKS
[In thousands of dollars]
End of month

1925

222, 265
185, 752
192,994
186, 221
154, 650
124, 606
116, 338
93, 539
88,878
103, 643
85, 037
92, 519

January.. _
February..
March
April
May
Tune.
luly
August. _.
September
October...
November.
December.

1926

1927

118, 956
127, 580
132,104
137,144
107,389
66, 817
57, 630

54,987
166,485
L04,484
86, 976
94,561
88, 947
86,412
132, 890
L03, 592
118,167
116.913
104,999

63, 644
47, 634
56, 214
64, 444
77, 007

1928
79,968
90,090
99,058
56, 397
58,183
71,289
52,642
50, 331
53,187
43,711
50, 345
75,842

1929
79,246
89, 050
117,430
95,129
87,396
84, 284
90, 032
82,378
70, 768
129,413
244,463
191,061

1930
220,467
182, 930
166,663
157, 527
165,611
205,110
278,642
267,337
316,678
384,173
493,002
371, 452

Note.—Banks included are those which report to the American Acceptance Council; figures include both
own acceptances held and purchased acceptances held.
No. 63.—PURCHASED ACCEPTANCES HELD BY MEMBER BANKS ON CALL DATES
[In thousands of dollars]
Member banks outside New York City

j Member

I Total—all banks in
New
j member
York
banks

Call date

Total

City i

In Chicago ]

In other
reserve
cities

Outside
reserve
cities

180,977
212,170

104,418
122,422

76, 559
89, 748

3,174
2,196

32,499
49,449

40,886
38,103

238, 455
197, 994
162, 668
291, 527

110,819
115, 570
91, 746
173, 730

127, 636
82,424
70,922
117, 797

12,471
4,203
5,002
13,877

62, 905
38,176
33, 551

52, 260
40,045
32, 369
37, 324

1930-Mar. 27
June 30

I 253,728
241,106

Sept. 24
Dec. 31

267,366
369,747

129, 379
172,883
175, 792
210, 497

124,
68,
91,
159,

13,998
20, 728
20, 250
31, 558

79, 538
35,464
64,144
119, 714

30,813
12, 031
7,180
7,978

1928—Oct. 3
Dec. 31

.

1929—Mar. 27.
June 29..
Oct. 4.._
Dec. 3 1 . .

349
223
574
250

1
Central reserve city banks only.
NOTE.—Purchased acceptances only—i. e., exclusive of own acceptances held, which are reported in
"all other" loans (see Table 46).

No. 64.—DISTRIBUTION OF DOLLAR BANKERS' ACCEPTANCES

OUTSTANDING

[In thousands of dollars]
Held b y Federal reserve banks
End of month (1930)

Total outstanding
Total

January...

February..
March
April
May
June
July
August
September
October....
November.
December.

1, 692, 794
1, 623, 899
1, 539, 286
1,413, 717
1, 382, 207
1,304,831
1, 349, 695
1, 339, 384
1, 366, 734
1, 508, 244
1,571,418
1,555,966

819,147
772,139
759,739
673, 944
646, 824
596, 449
608,199
637, 664
639, 301
574,501
571, 828
767,149

For own
accounti

For foreign correspond-

293, 272
269,170
277, 277
208, 486
183, 979
126, 771
129, 045
166, 990
207, 667
141, 364
142, 986
327,861

525, 875
502, 969
482, 462
465, 458
462, 845
469, 678
479,154
470, 674
431, 634
433,137
428, 812
439,288

ents 2

Held by
others

Own
bills

Bills
bought

63,130
70, 737
71, 933
54, 747
62,630
63, 735
62, 513
95.127
130, 904
] 72. 410
180, 207

157,337
112,193
94, 730
102, 780
102,981
141, 375
216,129
172, 210
185, 774
211. 763
312, 795
281,806

653,180
668,830
612,884
582, 246
569, 772
503, 272
462,854
434, 383
410, 755
549, 570
506,588
417, 365

'Reserve bank holdings of "bills bought," exclusive of (1) trade acceptances and (2) bills payable in
foreign currencies.
2
Contingent liability of Federal reserve banks on bills bought for foreign correspondents.
Back figures .—See Annual Reports for 1929 (Table 58) and 1928 (Table 61).




130

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
BANK DEBITS

No. 65.—DEBITS TO INDIVIDUAL ACCOUNTS, BY BANKS IN 141
CITIES, BY MONTHS, 1921-1930

PRINCIPAL

[In millions of dollars]
Month

1921

1922

1923

1924

1925

1926

1927

1928

1929'

1930

T O T A L , 141 C I T I E S

January
February- _
March
April
May.
_
June
July
August
September.
October
November.
December..
Total

38, 029
29, 728
33, 903
32, 235
32, 512
33, 606
31, 515
30, 097
31,625
34, 323
33,441
38, 020

34, 944
30, 585
36, 932
36, 388
37, 976
39, 236
36, 056
34,136
35, 768
40, 745
36,160
40, 437

41, 753
35, 925
42,185
39, 294
40, 072
40, 574
36, 504
33, 496
34,060
38, 911
38, 504
42, 448

41, 498
37, 398
40, 739
39, 519
40, 044
40, 230
40,131
38, 692
38, 972
43, 418
41, 893
49,157

49, 982
41, 517
47, 623
44, 558
46, 596
48, 631
47,037
43,134
45, 264
52, 955
48, 367
54, 399

54,145
44, 915
56,464
51, 837
48,020
50, 662
50,959
47, 011
46,954
52, 535
47, 384
57, 070

54, 714
48, 220
58, 518
55, 583
54,143
56, 820
53,682
53, 702
56, 750
59, 201
57,085
65, 441

62,885
54,493
70,633
67, 003
71,616
72,485
58,981
58, 504
63,176
72, 894
71, 349
82, 386

82,814
70,777
83,524
74,750
76, 535
69,666
77,631
77, 344
77,617
95, 527
82, 090
66, 752

60,423
52, 625
65,723
62,946
61,811
62, 312
52, 744
45, 993
48,636
54,460
42,176
52,107

399, 036

439, 361

463,726

491,691

570, 064

607, 956

673, 861

806, 405

935,027

661, 957

28,095
24, 489
28,099
26, 770
26, 492
26,404
28, 416
28,310
27,274
32, 202
28, 486
26,902

25,691
21, 508
24, 983
24, 315
24,388
24, 621
23,145
20, 941
21, 253
23, 679
19, 686
23,107

140 C I T I E S ( E X C L U D I N G N E W Y O R K C I T Y )

January
February. _
March
April
May
June
July
August
September.
October
November.
DecemberTotal

17, 996
14, 599
16, 550
15, 886
15, 342
15, 852
15,175
14, 911
15, 523
16, 713
15, 949
17, 446

15, 879
14, 042
16, 535
15, 671
16, 322
17,173
16, 343
15, 849
16, 553
18, 423
17,133
19, 586

19, 666
16, 906
19, 644
18, 816
19, 368
19, 532
18,184
17, 307
17, 261
19, 759
18, 521
20, 367

19, 384
17,512
19,193
18, 865
18,639
18, 304
18,662
17, 776
18, 238
20, 912
18, 846
21, 830

22, 301
18, 593
21, 240
20, 613
20,417
21,702
21, 580
19, 869
20, 895
24, 039
21, 357
24, 085

23, 607
20,102
23, 458
22, 537
21, 449
22, 466
23, 300
20, 778
21, 336
23. 780
2i; 593
24,493

23,456
20, 781
24,026
23, 576
22, 873
23, 812
22, 932
22, 048
23,381
25, 111
23, 803
26, 503

25, 001
21, 753
25, 847
25, 225
26, 346
27, 029
23, 897
23,401
24, 450
27, 705
25, 880
29, 659

191,941

199,509

225, 330

228,161

256,691

268, 900

282, 303

306,193

r

331,938 i 277,317

Revised.
Backfigures.—SeeAnnual Report for 1925 (Table 100); series begins with 1919. Corresponding figures
for each Federal reserve district and for each reporting center are available in mimeographed form beginning with 1923 and may be had upon request; for earlier years see Annual Reports for 1923 (Pt. II, Table
10), 1922 (Pt. II, Table'9), and 1921 (pp. 278-297).
NOTE.—Figures represent debits on the books of reporting banks to accounts of individuals,firms,and
corporations, and of the United States Government, including war loan deposit accounts, also debits
to savings accounts, payments from trust accounts, and certificates of deposits paid. Figures do not
include debits to the accounts of other banks or in settlement of clearing-house balances, payment of
cashiers' checks, charges to expense and miscellaneous accounts, corrections, and similar charges. Monthly
figures are derived from weekly reports, thefiguresfor weeks which do not fall entirely, within a single
calendar month being prorated.




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

131

BANK SUSPENSIONS
Banks closed on account of financial difficulties by order of supervisory author
ities or by the directors of the bank. Figures of suspensions include banks
subsequently reopened.
No. 66,—BANKS SUSPENDED AND REOPENED, BY YEARS, 1921-1930
Banks reopened

Banks suspended
Class of bank and year
Number
All banks:

Capital

Deposits

Number

Capital

Deposits

1921
1922 . .
1923
1924 . .
1925
1926
1927
1928
1929
1930.

501
354
648
776
612
956
662
491
642
1,345

$22,802, 000
13, 743, 000
21,943, 000
28, 358. 000
24,441, 000
32, 804, 000
24, 763, 000
19, 715, 000
32, 254, 000
111, 643, 000

$196,460, 000
110, 721, 000
188, 701, 000
213,338, 000
172, 900, 000
272,488, 000
193,891,000
138, 642, 000
234, 532, 000
864, 715,000

60
65
37
94
62
149
95
39
58
147

$1, 918, 000
4, 003, 000
1, 516, 000
2, 815, 000
1,994, 000
5,134, 000
3, 906, 000
1, 540, 000
3, 052, 000
6, 802,000

$17, 493, 000
35, 565, 000
11,674,000
22,462, 000
16, 618. 000
60, 610, 000
35, 729, 000*
15, 727, 000
25,829, 000
61,599,00O

Total

6,987

332,466,000 2, 586, 388,000

806

32, 680,000

303,306, 000*

42, 503, 000
24, 243, 000
51, 228, 000
74, 469, 000
67, 264, 000
68,812,000
66, 336, 000
42, 240, 000
57,135, 000
380,440,000

10
24
14
20
14
14
11
5
5
7

475. 000
1,580,000
685, 000
860, 000
800, 000
710. 000
845, 000
325, 000
285, 000
450,000

3,132, 000'
11, 618, 000
5, 068, 000
7,190, 000
6, 779, 000
8,179, 000
8,311,000
6, 610, 000
2, 273, 000
3, 538,000

874, 670, 000

124

7,015,000

62, 698,000

M e m b e r banks:
1921...
1922
1923..
1924
1925 .
1926
1927
1928-.
1929
1930..

...
_

Total
National banks—
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

-.

Total
Nonmember banks:
1921
1922 .
1923
1924
1925
1926.
1927 .
1928..
1929
1930..

1,181

5, 369, 000
3,956, 000
6, 845, 000
10, 305, 000
9,920, 000
8, 569, 000
8, 034, 000
5, 175, 000
7,125, 000
50,410,000
115,708,000

51
45
90
122
118
125
91
57
64
161

Total
State banks—
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

70
57
124
159
146
160
124
73
81
187

.

Total



3, 060, 000
3, 335, 000
4, 610, 000
7, 660, 000
7, 970, 000
6, 020, 000
5,415, 000
4,200, 000
5, 095, 000
19, 675,000

21, 285, 000
19, 092, 000
32,904, 000
60, 889, 000
58. 537, 000
47, 866, 000
46, 581, 000
31, 619, 000
37, 007, 000
173,290,000

8
22
11
18
11
10
8
2
3
5

325. 000
1, 330, 000
570, 000
785, 000
700, 000
490, 000
485, 000
75, 000
160,000
310, 000

2, 499, 000
8, 076, 000
3,973. 000
6, 895, 000
6, 300, 000
4, 665, 000
5, 073, 000
417, 000
1, 607, 000
1, 872,000

924

67, 040, 000

529,070, 000

98

5, 230,000

41, 377,000

19
2,309, 000
12
621, 000
2, 235, 000
34
2, 645, 000
37
1,950, 000
28
2, 549, 000
65
2, 619, 000
33
975 nnn
16
17 ; 2.030 nnn
sn 735 nnn
26

21, 218, 000
5,151, 000
18, 324, 000
13, 580, 000
8,727, 000
20, 946, 000
19, 755, 000
10, 621, 000
20,128, 000
207,150, 000

2
2
3
2
3
4
3
3
2
2

150, 000
250, 000
115, 000
75, 000
100, 000
220, 000
360, 000
250, 000
125, 000
140, 000

633, 000
3, 542. 000
1, 095, 000
295, 00O
479, 000
3, 514, 000
3, 238, 000
6,193, 000
666, 000
1, 666,000

48,668,000

345, 600, 000

26

1, 785,000

21,321,000

17, 433, 000
9, 787, 000
15, 098, 000
18, 053, 000
14, 521. 000
24, 235, 000
16, 729, 000
14, 540, 000
25,129, 000
61, 233, 000

153,957, 000
86, 478, 000
137,473, 000
138,869, 000
105, 636, 000
203, 676, 000
127, 555, 000
96, 402, 000
177, 397, 000
484, 275, 000

50
41
23
74
48
135
84
34
53
140

1, 443, 000
2, 423, 000
831, 000
1,955-, 000
1,194, 000
4, 424, 000
3, 061, 000
1, 215, 000
2, 767, 000
6,352,000

14, 361, 000
23,947, 000*
6, 606, 000*
15, 272, 000.
9, 839, 000'
52, 431, 000
27,418, 000*
9, 117, 000
23, 556, 000
58,061,000

21fi758 nnn
1,711,718,000

682

257
431
297
524
617
466
796
538
418
561
1,158
5,806

25, 665,000

240, 608, 000

132

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
N o . 67.—BANK SUSPENSIONS, BY MONTHS, 1926-1930
[Amounts in thousands of dollars]
All banks
Month

1926
January
February
March
April
May
_.
June
July
August
September-..
October
November...
JDecember
1927
January
February
March
April
May
June
July
-..
August
September. .
October
November..
December...

1930
January
February
March
April
May
June
July
August.
September...
October
November..
December...

Total

National

State

Number

Deposits

65
52
51
56

13, 384
11,763
10,249
12, 512
16,324
34,229
48, 618
10, 001
12, 050
18, 209
45,983
39,166

3,992
2,861
710
3,534
4,234
5,318
1,637
2,127

2,701
2,475
523
1,322
3,338
4,138
1,337
2,127

1,291
386
187
2,212
896
1,180
300

54
42
45
50
58
61
135
43

4,317
6,280
19, 389
14, 413

3,890
5,165
14, 334
6,516

427
1,115
5,055
7,897

29
69
121
89

32, 038
25,157
31, 222
11, 750
13,198
10,784
12,162
17, 364
8,988
11, 542
11, 210
8,476

11, 555
8,744
7,700
5,462
6,434
5,521
2, 638
8,881
1,257
3,729
3, 105
1,310

5,662
7,566
5,501
3.769
5,564
1,932
2,638
8,670

5,893
1,178
2,199
1,693

106
65
59
39

870
3,589

36
32
35
22

10, 983
18, 352
16, 953
8,190
6,394
13,496
5,368
6,147
7,888
9,011
24, 784
11, 076

2,552
9,373
3,026
2,446

816
6,211
1,243
152

1,927
1,819
413
1,944
2,997
803
11, 021
3,919

1,736
3,162
1,783
2,294
1,927
1,620
174
1,944
2,430
320
10, 609
3,620

8,963
3,922
2,045
1,681

8,461
3,419
1,865
1,654

502
503
180
27
623
326
14,132
595

48
46
43
25

7,450
17,824
6,957
6,109

105
41
58
14

286
1,873
1,081

36
38
64
43

19, 632
16,558
44, 226
7,653
8.781
9,086
20, 420
12, 701

5,275
50
526
411

67

68
77
140
52
37
88
154
116
133
81
75
49
47
41
37
27
36
44
43
49

1928
January
February...
March
April
May
June
July
August
September..
October
November..
December—.
1929
January
February
March
_
April
May
June
July
August
September..
October
November. .
December.. .

Nonmember
banks

Member banks

54
60
51
29
112
48
69
17
39
43
68
52

16,413
21,746
9,002
7,790
24, 090
19, 219
66,161
8,532
10, 050
13,153
22, 646
15, 730

Number

Deposits

Number

Deposits

504
2,101
1,413
1,261

4,458
2,661
21,9135
879
1,269
4,067
2,226
3,029

3,835
2,335
7,803 I
284
1,269
3,781
353
1,948

28,903
32,800
23, 769
33, 388

8,491
14, 236
3,322

3,216
14,186
7,757
2,911

19, 315
70,566
32,333
21,951

2,220
16,904
11,155
3,561
1,940
3,336
98,115
208,877

2,220
16,439
11,155
3,044
1,769
3,336
62, 373
44,884

66 23,666
72 24,599
254 186,306
344 367,119 I

Back figures.—See Annual Report for 1928 (Table 64).



49

Number

10

Deposits

211
753

Number

.30
35
37
42

517
171
7 35,74!
7 163,993

9,392
8,902
9,539

8,978
12, 090
28, 911
46, 981
7,874
7,733
11.929
26. 594
24, 753
20,483
16, 413
23, 522
6,288
6,764
5,263
9,524
8,483
7,731
7,813
8,105
7, 166
8.431
8,979
13, 927
5,744
4,467
11,677
4,955
4,20b
4,891
8,208
13, 763
7,157

567
483
412
299

465

Deposits

52
56
56
58
57
62
221
288

20,412
18,564
15,486
30,066
17,095
53, 662
21,178
18, 390
21, 726
21, 263
88,191
158,242

133

BANK SUSPENSIONS
No. 68.—BANK

SUSPENSIONS:

NUMBER, CLASSIFIED ACCORDING* TO
STOCK

CAPITAL

ALL BANKS
Banks having capital
stock o—
f

1922

1921

1923

319
191
55
130
61
15

1925
234
135
46
133
43
18

1926
384
230
100
164
46
16

1927
247
165
60
122
47
13

194
104
31
78
47
12
14
31

Total

117
85
39
53
24
15
21

14

5

3

16

8

501

Less than $25,000
$25 000
$25,100 to $49,000... - „
$50,000 to $99,000.......
$100,000 to $199,000.....
$200,000 t o $999,000
$1,000,000 and over
Not available

295
151
49
91
32
16

1924

354

648

776

612

956

662

1928
191
106
38
94
46
11

1929

1930

Total

5

223
143
67
120
58
19
'5
7

466
296
140
221
131
70
»11
10

2,670
1,606
625
1,206
535
205
20
120

491

642

1,345

6,987

56
15
39
30
19
<2

326
81
315
136
63
3

NATIONAL BANKS
$25,000...
$25,100 to $49,000
$50,000 to $99,000
$100,000 to $199,000
$200,000 to $999,000
$1,000,000 a n d over

23

46
20
45
12
2

44

14
1
|

3

Total..

51

45

90

122

118

31
6
40
12
2
57

125

64

161

924

3
70
32
72
56
18
6

STATE MEMBER BANKS
|

Less than $25,000
$25 000
$25,100 to $49,000
$50,000 to $99,000
$100,000 to $199,000
$200,000 to $999,000
$1,000,000 and over

2
3
7
5
1
1

11
2
14
4
3

9
4
10
12
2

19

Total

4
5
1
1
1
12

34

37

•!

S
2
_. _
28

2
5
7
12
7
2

13
4
4
8
4

3
2
6
5

4
2
5
5
1

8
2
5
4
3
«4

35

33

16

17

26

257

247
121
50
78
27
7

191
88
33
64
31
6

466
232
123
177
97
48
«5
10

2,667
1,210
512
819
343
124
11
120

1,158

5,806

NONMEMBER BANKS

Total
i Includes
a Includes
3 Includes
«Includes
«Includes
«Includes

382
179
73
107
27
12

194
79
26
57
33
8
i 3
31

117
67
29
39
16
8
21

14

5

3

16

8

5

223
124
59
89
40
16
23
7

431

Less than $25,000
$25,000
$25,100 to $49,000
$50,000 t o $99,000
$100,000 to $199,000
$200,000 to $999,000
$1,000,000 and over
Not available

297

524

617

466

796

538

418

561

295
99
37
51
19
9

319
138
42
78
30
5

233
83
40
79
23
5

1 bank with capital of $1,309,000.
1 bank with capital of $1,225,000.
1 bank each with capital of $1,218,000, $1,750,000, $2,500,000, $4,000,000, $4,877,000, and $25,250,000.
1 bank with capital of $4,000,000.
1 bank with capital of $1,750,000 and 1 with $25,250,000.
1 bank each with capital of $1,218,000, $2,500,000 and $4,877,000.

No. 69.—BANK SUSPENSIONS, BY SIZE OF TOWN OR CITY, 1921-1930
Number of suspensions
Places with population o—
f
1921

1922

1923

1924

1925

Less than 500. .
500 to 1,000
1,000 to 1,500
1,500 to 2,500...
2,500 to 5,000...
5,000 to 10,000..
10,000 to 25,000.
25,000 and over

181
99
47
39
33
32
21
49

120
75
23
44
30
18
12
32

331
104
58
55
35
24
14
27

335
158
71
75
55
28
22
32

226
130
67
56
60
32
18
23

372
204
115
88 j
79 i
30
22
46

Total....

501

354

648

776

612

956




1926 | 1927
!

1928

1929

1930

266
142
61
65
53
22
30
23

207
93
48
52
33
18
17
23

240
128
77
63
35
35
24
40

442
278
128
137
119
60
57
124

2,720
1,411
695
674
532
299
237
419

662

491

642

1,345

6,987

Total

134

ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD

CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE
SYSTEM '
No. 70.—SUMMARY OP CHANGES IN MEMBERSHIP, BY YEARS, 1926-1930
Number of banks
1926
Active member banks, first of year.

1927

1928

1930

1929

9,489

8,837

8,522

115
120

93
176

53

3 -5

127
185
3-58

278

279

192

257

229

226

197

315

470

9,260

Active member banks, end of year

9,034

154
101

49

Net decrease for the year__

9,260

174
125

Banks joining the system *
_
Banks withdrawing from the system 2
Net accession to membership
_
Banks lost to membership through mergers between
member banks, suspensions, etc

9,034

8,837

8,522

8,052

3

-83
387

1
Not including nonmember banks absorbed by member banks without effect on the number of banks
in 2 system.
Including withdrawals which were incidental to the absorption of member banks by existing nonmember banks as follows: 1925, 42; 1926, 44; 1927, 55; 1928, 59; 1929, 95; 1630, 109.
8
Net loss owing to withdrawals.

Back figures.—See Annual Report for 1925 (Table 93).
No.

71.—CHANGES IN MEMBERSHIP, BY CLASS OF MEMBER, 1929

AND

1930

Number of member banks
Procedure effecting change

Total

State

National

1929
Active member banks, first of year

_

Additions to membership:
Organization of national bank.. . _ .
Conversion of nonmember bank to national
Admission of State bank
Resumption following suspension
Conversion within the system i
Total additions
Losses to membership:
Merger between member b a n k s National and National, or State member and
State member - _ _ _ _ .
National and State member
_
Voluntary liquidation (terminal)
Suspension and insolvency
__ _
Absorption of member bank by nonmember bank.
Conversion of member bank to nonmember bankWithdrawal of State bank
Conversion within the system!
Total losses
Net decrease
Active irtP.nibPT bvikp, W\<\ of year
1
2
3
4

1930

1929

1930

1929

8,837

8,522

7,629

7,403

1,208

1,119

71

33

71
24

33
35

5
2

18

7

3
6

27

5
127

93

104

75

35

23

132

158

109

143

23
14

15

24
27

35
18

2
6

1930

2
3

39
3
82
95
49
342

41
4
* 185
109
25
2
41

6

3

6

19
1
26
13
6
241
2

442

563

330

445

124

123

315

470

226

370

89

100

8,522

8,052

7,403

7,033

1,119

1,019

25
3
65
79
43

22
3
* 159
96
19

17
16
6
3 42

Conversions between 2 classes of member banks, without effect on the number of banks in the system.
Includes 2 compulsory withdrawals.
Includes 1 compulsory withdrawal.
Exclusive of 2 banks which suspended in 1930 but which were included in the comptroller's Dec. 31,
1930, abstract.
Backfigures.—SeeAnnual Reports for 1929 (Table 65), 1927 (Table 117), 1926 (Table 97), and 1925 (Table
93).




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
EARNINGS, EXPENSES, AND DIVIDENDS
BANKS
No. 12.—MEMBER

BANKS—EARNING ASSETS, CAPITAL

OF

135

MEMBER

FUNDS, AND PROFITS,

1923-1929
Ratios2

Amounts ] (in thousands of dollars)
Principal earning assets

Year ending Dec. 31

All member banks:
1923.
1924
1925
J
1926...
1927
1928
1929
National member banks:
1923
1924.
1925.
1926
1927
1928
1929...
State member banks:
1923
1924...
1925
1926
1927
1928
1929

Investments

Loans

Total

Capital
funds 3

Net
Net
Earning
profit
profit
assets
$100 j
per $1 of perearn- j per $100
of
of
capital
ing
capital
funds
assets
funds

26, 206,988
27,474, 727
29,673, 891
31,132,149
32, 755,971
34, 721, 879
35, 727,128

18,531,961 7, 675,027
19, 347, 300 8,127,427
20,809,107 8, 864, 784
22,123, 397 9, 008, 752
23,005,039 9, 749,932
24,153,677 10, 568, 202
25, 614, 655 10,112,473

4. 380,074
4, 491, 663
4, 589, 294
4, 820,129
5,162, 702
5, 622, 312
6, 360, 306

$5.98
6.12
6.47
6.46
6.34
6.18
5.62

$1.29
1.32
1.41
1.39
1.36
1.45
1.56

$7.69
8.04
9.14
8.95

16, 713, 739
17, 233,431
18,430, 579
19,135, 960
20, 349, 562
21, 858, 250
21, 751, 748

11, 725,163
12,007,447
12, 729, 675
13, 353,101
13, 949, 969
14, 789, 566
15, 007, 570

4, 988, 576
5, 225, 984
5, 700, 904
5, 782, 859
6, 399, 593
7,068, 684
6, 744,178

2, 890, 930
2, 916,791
2, 970, 453
3, 077,183
3, 254, 507
3, 543, 609
3, 750, 521

5.78
5.90
6.20
6.22
6.25
6.17
5.80

1.16
1.24
1.32
1.28
1.26
1.33
1.34

6.72
7.33
8.22
7.96
7.91
8.21

9,493, 249 6, 806, 798
10, 241, 296 7, 339, 853
11, 243, 312 8, 079, 432
11,996,189
8, 770, 296
12, 406,409 9, 056,070
12, 863, 629 9,364,111
13, 975, 380 10, 607, 085

2, 686,451
2,901, 443
3,163, 880
3, 225, 893
3, 350, 339
3, 499, 518
3, 368, 295

1,489,144
1, 574, 872
1, 618, 841
1, 742, 946
1, 908,195
2, 078, 703
2, 609, 785

6.37
6.50
6.95
6.88
6.50
6.19
5.35

1.50
1.44
1.56
1.55
1.53
1.66
1.90

6.72
9.37
10. 83
10.70
9.94
10. 25
10.16

8.75

* Figures are averages of amounts for call dates during year.
2 For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828.
3
Capital, surplus, undivided profits, and reserves for dividends, contingencies, etc., including, in 1923 and
1924 only, reserves for taxes, interest, etc., accrued.
No. 73.—MEMBER BANKS—RATIOS OF EARNINGS, EXPENSES, E T C . , TO AVERAGE
EARNING ASSETS, 1923-1929

[Amounts per $100 of earning assets]
Gross earnings

Expenses

Year ending Dec. 31

Total
All member banks:

1923
1924
1925.
1926
1927..
1928
1929

National member banks:
1923
1924
1925
1926
1927
1928
1929

State member banks:
1923.
1924
1925
1926
1927.
1928
1929

. .

$6.56
6.50
6.46
6.51
6.47
6.58
6.92

Interest
earned

$5.70
5.51
5.44
5.49
5.34
5.49
5.79

Total

Losses

Interest
paid on
deposits

Net

Total

Net

profits

$4.70
4.66
4.61
4.63
4.63
4.65
4.71

$2.09
2.16
2.17
2.16
2.18
2.16
2.13

$0.79
.72
.65
.67
.64
.63
.83

$0.57
.53
.44
.50
.48
.48
.65

$1.29
1.32
1.41
1.39
1.36
1.45
1.56

6.37
6.35
6.29
6.33
6.34
6.41
6.64

5 76
5.57
5.51
5.54
5.44
5.54
5.73

4.53
4.50
4.46
4.48
4.52
4.52
4.54

1.97
2.07
2.08
2.07
2.12
2.10
2.07

.93
.81
.74
.76
.73
.72
.92

.67
.60
.51
.57
.56
.56
.76

11*
1.24
1.32
1.28
1.26
1.33
1.34

6.90
6.76
6.75
6.81
6.70
6.86
7.38

5.59
5.41
5.34
5.41
5.17
5.40
5.88

5.00
4.93
4.85
4.88
4.81
4.87
4.98

2.30
2.33
2.32
2.31
2.27
2.25
2.21

.55
.56
.51
.51
.49
.46
.68

.40
.40
.34
.38
.36
.34
.50

1.50
1.44
1 56
1.55
1.53
1.66
1.90

NOTE.—For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828.

33454—31
10



136
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

74.—MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, 1923-1929
fin thousands of dollars]
Gross earnings

Expenses
Interest paid

Year ending Dec. 31
Total

All member banks:
1923
1924
1925
1926
1927
1928
1929
National member

1923
1924
1925
1926
1927
1928
1929

All
other

Salaries
and
On de- On bor- wages
rowed
posits money

Total

Taxes

All
other

1,493,755 225,605
1,514, 500 271,971
1,615,595 302,499
1,710,492 317,260
1,749,008 371.269
1,905,728 378.270
2,474,099 2,068,901 405,198

1,232,654
1,280, 524
1,367,318
1,441,745
1,515, 704
1,613,811
1,683, 720

547,910
594, 432
643,158
672,927
713,038
749,662
759,260

42,151
24,746
25,954
31,350
24,514
48,443
64,265

335,680
355,018
372,741
396,796
420,128
440,000
463,847

102,673
97,341
102,411
105,885
109,778
113,759
112,476

204,240
208,987
223,054
234,787
248,246
261,947
283,872

963,443 100,852
960,601 133,231
, 015,352 144, 243
060,589 150,322
, 107,242 182, 055
,211,259 190, 212
, 247,125 196,178

757,802
776,070
822,255
856,765
918,816
987,739
987,140

329,304
356,311
382,483
395,352
431,763
459,819
450,258

29,641
17,001
17,172
20,089
15,429
29,184
37,350

205,391
213,994
223, 756
235,969
253,634
269,429
271,103

69,873
64,676
66,645
68,270
69,219
69,872
64,333

123,593
124,088
132,199
137,085
148,771
159,435
164,096

124, 753
138,740
158, 256
166, 938
189, 214
188,058
209,020

474,852
504,454
545,063
584,980
596, 888
626,072
696,580'

218,606
238,121
260,675
277,575
281, 275
289,843
309,002

12,510
7,745
8,782
11,261
9,085
19,259*
26,915

130, 289
141,024
148,985
160,827
166,494
170,571
192, 744

32,800
32,665
35, 766
37,615
40, 559
43,887
48,143

80,647
84,899
90, 855
97,702
99,475
102,512
119,776

1,719,360
1,786,471
1,918,094
2,027,752
2,120,277

banks:

1923
1924
1925
1926
1927
1928
1929
State member banks:

Interest
earned

1,064,295
1,093,832|
1,159, 595:
1, 210,911
1,289, 297,
1,401,471
1,443,303
655,065

758,499
816,841
830,980
882,527
1,030,796

530,312
553,899
600,243
649,903
641, 766
694,469
821, 776

Losses
Year ending Dec. 31

All member banks:
19231924___
1925
1926
1927
1928
1929
National member

Net
earnings

1923
1924___
1925—
1926.
1927
19281929

Recoveries

Net
losses

Net
profits

Dividends
declared

Total

486,706
505,947
550,776
586,007
604,573
670,187
790,379

207,127!
197,343 jj
193,0991!
207,530!!
208,693 j
217,194 i
295,473;

143,0111
133,079
128,774i
124,885i
123,745!
119,290|
139,588

36,411
33,196
35,127
35,909
37,284
45,293
95,465

27,705
31,068
29,198
16, 736
47,664
52,611
60,420

57,307:
52, 739!
61,806
53,006 :
51,129i
50,875
61,608|

149,820
144,604
131,293
154, 524
157,564
166,319
233,865

336,886
361,343
419,483
431,483
447,009
503,868
556, 514

257,933
258,044
272,686
284,809
312,680
327,422
408,628

306,493
317,762
337,340
354,146
370,481
413,732
456,163

154,753'
140,250!
136,269!
145,831!
148, 225!
158,254
200,633;

108,819,
97, 582
92,127
88,017
91,214
88,077!
93, r "

26,450
23,960
23,692
26,261
25,665
34,455
63,304

19,484
18, 708
20,450
31,553
31,346
35, 722
43,649

42, 6421
36, 270!
43,122i

112,111
103,980
93,147
109,169
113,198
122, 972
164, 779

194,382
213, 782
244,193
244,977
257,283
290, 760
291,384

166,492
162, 636
171,324
176,421
197,555
204,612
247,317

180, 213
188,185
213,436
231,861
234,092
256,455
334,216

52,374
57,093 j !
56,83011
61,699|
60,468!
58,940!
94,840|

34,192
35,497
36,647
36,868
32, 531
31, 213
45,908

9,961
9,236
11,435
9,648
11,619
10,838
32,161

8,221
12,360
8,748
15,183
16,318
16,889
16,771

14,665
16,469
18,684
16,344
16,102
15, 593
25,754

37, 709
40,624
38,146
45,355
44,366
43,347

142,504
147, 561
175,290
186,506
189,726
213,108
265,130

91,441
95,408
101,362
108,388
115,125
122,810
161,311

banks:

1923
1924.
1925.
1926
1927--.
1928
1929
State member banks:

On
investments

On
loans




All
other

35,027
35, 282
35,854

BANKING CONDITIONS
IN FEDERAL RESERVE DISTRICTS
AND STATES




137

CONDITION OF EACH FEDERAL RESERVE BANK
No. 75.—BILLS DISCOUNTED FOR MEMBER BANKS 1 —HOLDINGS OP EACH
FEDERAL RESERVE BANK, BY MONTHS, 1926-1930
[Monthly averages of daily figures. In millions of dollars]
Federal reserve bank
Month

Chi- St. Min- Kancago Louis neap- sas

SanDal- Franlas
cisco

Boston

New- Phila- Cleve- Rich- AtYork del* land mond lanta
phia

1926
January
February
March
April
_
May
June
July.
August
September
October...
November
December

31.3
39.1
35.1
27.7
27.5
25.0
34.5
37.0
46.0
41.3
38.6
56.1

160.1
182.1
139.6
130.8
135.5
115.5
168.5
163.3
181.8
164.7
134.6
155.2

47.5
55.7
59.2
52.8
49.4
48.6
48.0
45.5
45.6
49.1
43.1
59.9

58.6
42.2
55.7
55.9
51.7
43.6
36.7
33.2
44.5
69.9
74.9
89.3

38.1
38.1
43.6
45.0
46.8
47.3
41.7
45.0
46.2
45.5
35.1
29.3

27.3
26.6
40.9
44.0
35.1
38.5
42.2
47.7
55.7
55.6
50.2
47.1

1927
January
February
March
April
May
June
July
August..
September
October
November
December

33.4
29.0
35.8
23.2
37.1
33.8
29.7
29.9
28.4
33.3
36.4
40.2

118.3
91.2
112.2
121.6
137.8
91.9
122.9
118.4
142.4
126.9
106.5
171.1

43.7
35.7
41.0
43.7
45.8
45.2
46.8
39.6
38.2
38.4
38.1
47.9

61.5
38.9
31.7
53.9
43.6
41.8
35.4
27.8
34.8
43.7
46.8
58.6

22.5
23.4
22.1
22.5
25.5
22.4
21.8
19.7
26.3
28.9
21.5
24.4

34.2
26.8
31.7
34.1
34.6
32.6
36.3
34.7
31.1
26.0
32.7
36.1

19.1
14.6
14.4
16.2
24.0
26.3
218
24.7
28.0
21.5
18.1
19.3

4.1
4.0
4.5
6.1
6.7
6.5
6.0
6.1
4.4
2.7
2.6
3.0

10.4

1928
January
February
March
April
_
May
June
July
August
September
•October
November
December

23.5
45.2
49.5
44.4
59.6
84.8
68.0
61.1
50.9
45.9
50.6
65.0

152.9
119.3
130.0
210.9
296.9
376.1
382.6
321.3
352.3
300.7
238.1
298.7

44.4
53.1
49.2
52.7
60.4
80.2
93.8
99.1
106.5
93,7
79.3
91.3

51.0
50.8
57.0
60.8
68.4
89.3
100.8
80.1
77.8
75.5
85.6
108.0

26.9
27.3
27.8
34.6
43.0
48.0
54.9
56.6
57.2
47.8
42.5
40.8

16.6
29.3 ! 59.0
28.3 50.9 i 24.0
67.9 | 26.1
25.2
OO ft i
38.9 87.6 33.1
51.9 109.5 ! 39.0
136.1 i 52.9
68.5 156.7 ! 55.1
76.8 159.4 ! 58.8
82.9 113.8 I 65.0
79.4 134.1 49.8
68.7 138.8 43.9
57.8 178.9 |

3.7
4.0
3.3

12.2
18.5
17.8
18.1
16.0
10.4

12.7
11.4
10.5
18.8
22.9
22.4
23.9
22.7
24.0
31.3
43.1
44.2

11.3
16.7
29.8
29.6
25.3
21.3
17.9

41.0
52.3
63.1
61.3
64.3
49.4
56.5
76.7
86.5
73.5
69.6
60.3

1929
January
February
March
April...
May
June
July
August
September
October..
November
December

60.4 245.9
61.9 216.3
58.6 231.5
75.8 264.6
96.5 234.5
99.4 251.2
78.4 408.6
79.5 303.3
71.3 230.9
60.7 160.0
46.9 154.7
40.4 188.3

73.1
85.5
101.6
110.0
86.7
84.7
77.3
92.8
90.6
78.7
106.8
80.2

79.7
84.7
76.0
96.6
93.8
90.9
84.0
79.7
78.8
95.2
124.4
98.4

40.7
41.0
43.4
52.6
58.1
56.6
57.5
59.6
60.1
53.1
51.9
41.8

58.5 142.7
55.8 ! 165.9
51.7 ; 210.6
63.6 133.4
73.4 109.8
65.9 ; 135.9
69.0 I 122.1
75.1 | 120.0
69.6 i 103.9
57.6 i 120.2
59.1 I 139.3
43.0 133.0

37.4
37.8
48.1
51.8
48.7
49.9
55.8
67.2
72.7
54.7
47.1
30.9

12.0
12.8
15.6
19.3
18.1
15.2
17.4
24.3
34.4
41.2
28.6
17.4

33.3
32.5
31.8
38.8
49.1
48.3
35.3
33.7
38.8
44.6
57.7
45.9

20.6
19.2
14.8
18.6
23.1
22.3
30.2
43.4
41.3
31.6
30.2
19.1

55.0
75.8
85.0
79.3
64.4
57.7
60.1
64.9
76.4
86.9
106.0
65.0

1930
January
February
March
.__
April
May
.._.
June
July
August..
_.
September
October
November
December

23.9
23.2
21.1
15.6
17.7
17.3
12.6
12.6
11.6
8.9
12.3
17.3

53.7
50.5
36.7
28.3
29.8
28.1
24.4.
18.2
16.4
17.5
19.6
27.5

72.8
53.3
31.1
25.7
21.0
23.6
24.9
15.7
14.6
25.0
27.1
37.9

30.8
22.2
16.8
16.0
17.2
19.7
19.8
21.4
20.0
18.9
21.7
33.1

31.7
25.3
21.6
18.8
27.6
30.4
28.9
29.9
28.2
24.8
26.6
30.4

87.4
63.0
35.2
22.7
20.6
18.1
19.0
16.5
14.4
15.8
18.5
26.4

17.7
16.7
14.0
13.9
15.5
18.1
16.3
15.1
17.7
17.3
17.4
14.2

7.0
3.0
2.4
3.1
3.8
3.8
4.2
4.4
4.1
4.3
3.8
3.9

28.1
23.0
16.2
12.8
15.2
14.2
10.4

13.3
11.9

22.5
15.1
15.8
13.1
11.8
10.6
10.0
9.5
7.6
6.7
8.9
33.7

_

111 8
70.5
54.3
53.7
58.0
57.1
44.0
47.6
32.2
36.7
42.6
90.3

olis

79.5
67.2
76.6
73.8
55.8
53.9
59.7
55.0
68.4
90.1
105.0
118.6
90.2
78.5
71.1
56.3
52.7
63.9 I
59.7 I

40. 5 I
31. 4 !
36.5 !
46.9 I
65.0 I

19.8
20.8
26.2
28.3
26.7
28.5
30.7
35.2
43.5
42.2
37.6
37.9

City

4.2
5.8
6.3
6.2
6.7
4.9
7.4

15.4
17.3
17.2
19.1
19.9
18.1
16.1
12.6
13.3
12.4
16.7
13.3

12.7
10.5
11.0
8.1
4.9

10.1
10.6
8.5

9.3
8.6

11.9
17.3
16.5
12.5
9.3

10.7
15.7
18.1
15.2

9.2
8.8

10.3
14.0
16.0

7.5
5.7
6.4
7.3
9.7

11.7
16.1
20.1
24.6
19.1
16.9
10.0
5.4
3.1
3.2
4.4
4.7
6.2
7.4

12.7
11.0
7.2
8.4
5.4

4.3
4.1
3.8
8.0
9.0

8.3
7.5
8.7

10.2
11.5
13.9
13.2
10.2
8.4
6.9

1

30.7
25.0
49.8
46.1
46.7
37.3
47.6
48.0
59.6
62.3
53.6
46.8
37.8
38.6
48.3
53.3
43.1
41.4
45.8
46.1
35.6
43.7
39.1
42.4

Including small amounts of bills discounted for intermediate credit banks, etc.; see Tables 12 and 97.
Back figures .—See Annual Reports for 1928 (Table 72), and 1927 (Table 55).




139

140
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

76.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE
ON DECEMBER 31, 1930, BY CLASSES

BANK

[In thousands of dollars]
Rediscounted bills
Total
(all
classes)

Federal reserve bank

Commercial and Demand Bankers'
agricul- and sight accepttural
drafts
ances
paper,
n. e. s.

Total

13,238
61,898
25,663
37, 216
22, 766
18,069
22,804
11, 301
3,576
15,042
4,342
15,483

7,211
11,623
9,417
9,156
15, 438
13, 366
11,102
2,080
2,960
9,226
2,715
3,869

251, 398

Boston
New York
Philadelphia. _
Cleveland
Richmond.
Atlanta
Chicago
St. Louis
.- -_
Minneapolis
Kansas City
_.
Dallas
San Francisco.

98,163

Trade
acceptances

Paper
secured
by U. S.
Government obligations

147
210
303
200
102
287
59
61
23

Member
banks'
collateral Collateral
notes
notes
secured
otherby U. S.
wise
Govern- secured
ment obligations

21

11
8

6

1,413

68

5,880
24,441
10,271
20,875
3,168
343
10, 882
4,865
347
1,286
744
5,887

449

88,989

1
54
67
145
9
98
56
13

25,624
5,671
6,931
3.991
3,860
752
4,186
190
4,517
875
5,700
62, 297

Backfigures—SeeAnnual Reports for 1929 (Table 70), 1928 (Table 73), 1927 (Table 56), etc.
No. 77.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE BANK ON
D E C E M B E R 3 1 , 1930, BY M A T U R I T I E S
[In thousands of dollars]
Maturity
Federal reserve bank

Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas .
San Francisco

61 to 90 91 days to Over 6
6 months months
days

Within
15 days

16 to 30
days

31 to 60
days

13, 238
61, 898
25. 663
37, 216
22,766
18,069
22, 804
11,301
3,576
15, 042
4,342
15,483

9,816
52,853
19,121
30,401
10,855
7,273
13,881
9,279
951
6,888
2,248
11,935

1,013
2,209
2,525
2, 073
3,621
2,667
1,741
ooo
106
698
380
294

1,487
3,760
2,730
2,917
4,993
4,090
2,951
612
307
1.760
594
765

847
2,987
1,249
1,522
2,824
3,127
3,107
500
548
1,841
402
505

74
89
38
291
467
811
1,055
318
1,296
3,729
672
1,794

12
6
101
69
260
368
126
46
190

251, 398

_. .

Total
Back fgun.—See

Total

175, 501

17, 659

26, 966

19,459

10, 634

1,179

Annual Report for 1929 (Table 71), 1928 (Table 69), 1927 (Table 57), etc.




1

141

EACH FEDERAL RESERVE BANK

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE
BANK, BY WEEKS
BOSTON
[In thousands of dollars]
Bills bought in United States
securities
op<m market

Date

Jan.
Jan.
Jan.
Jan.

1930
8...
15...
22...
29...

65, 757
64,929
68, 734
70,790

22, 444
19,180
22,440
26, 456

Feb.
Feb.
Feb.
Feb.

5...
12..
19. _
26..

64,446
63,258
65,167
69, 244

22,
20,
23,
26,

Mar.
Mar.
Mar.
Mar.

5...
12..
19..
26..

62, 981
61, 636
55,984
59, 737

22,
22,
18,
18,

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9...
16. _
23..
30..

77, 635
76,817
70,698
72, 202
70,135

19, 492
15, 731
13,937
13,932
13,737

7,657
10, 559
8,437
9,931
9,909

9,163
9,204
7,001
7,016
5,166

40,323
40, 323
40,323
40,323
40, 323

May 7...
May 14. _
May 21..
May 28..

71,349
75, 576
76,805
77,893

14, 979
19, 578
18,069
19, 712

9,677
9,200
12, 510
12,611

5,370
5,475
4,903
4,247

40, 323
40, 323
40, 323
40, 323

June 4. __
.
June 11..
June 18..
June 25..

73,658
80,316
75,419
78,841

16, 586
17,171
15, 322
17, 307

11, 306
14, 310
13, 251
12, 818

3,289
3,574
1, 585
3,456

July 2 . . .
July 9 . . .
July 16..
July 23..
July 30..

76,056
75,856
75,942
73,160
73,125

17, 590
15,447
11,416
8,895
10,000

11,068
11, 708
14, 915
16, 440
15, 926

2,138
3,441
4,351
2, 565
1

Aug.
Aug.
Aug.
Aug.

71,651
75,489
78,349
78,982

3... 79,255
10.. 80, 230
17.. 78,963
24.. 79,875

6...
13..
20..
27..

Sept.
Sept.
Sept.
Sept.

Deposits

Total
bills
Bills
Total
and
discash resecuri- c o u n t e d B o u g h t Under Bought Under serves
resale outresale
ties i
agree- right agreement
ment

5,952
8,770
10, 081
9,907

10,511
9,106
8,340
6,536

787
345
289
544

9,060
7,696
7,513
8,293

4,708
7,326
5, 923
5,965

656
705
365
575

7,762
6,184
5,227
5,020

25, 850
26, 873
26, 873
26, 891

Total

Member b a n k O t h e r
dereserve posits
balances

Federal
reserve
notes in
circulation

193,015
183, 635
170, 079
166, 958

303,668
285, 592
274,110
268, 770
275,147
266, 534
265, 070
258, 225
266, 267
267,135
270,369
265, 683

160, 023
150, 766
151, 638
150, 018
150,167
169, 473
148, 260
146,144

155, 888 4,135
149,076 I 1,690
148,874 I 2,764
146,618 | 3,400
!
147. 472 2,695

147,695 21, 778
145, 660 2,600
143,236 2,908

165,423
160, 737
159,312
158, 671

145, 204
149, 300
145,817
144,396

144,421
783
643
148,657
914
144, 903
143,391 1,005

163, 635
159,237
160,968
161,112

253, 818
254, 423
267, 214
261, 834
256, 829
259, 801
252. 982
246,655
244,899

149, 247
147, 304
153,121
151,314
144, 594

147, 260
145, 403
148, 740
147, 988
142, 022

1,987
1,901
4,381
3, 326
1,972

163, 396
163,117
164, 500
160,984
159,991

143, 794 4,265
844
149, 724
142, 209 4,337
5, 994
138, 690

160,388
156,792
154,855
155, 748

41, 477
44, 261
44, 261
44, 260

148, 059
150, 568
146, 546
144,684
252, 783 148,845
240, 268 147,639
239,785 148, 067
236, 600 146,337

44, 260
44,260
44, 2G0
44, 260
44, 260

253,534
246,113
241,233
241,405
234,170

156,192
152, 048
150,282
149, 895
145, 367

153, 665
149,253
149, 208
147,975
142, 077

2,527
2, 795
1,074
1,920
2,690

151,047
145,590

10,142
10,936
12, 823
14, 884

15,799
451 44, 259
16,032 1,344 46,177
16,638 1,711 46,177
862 46,177
16,059

150,289
150,918
147, 467
144, 023

147, 232
148,701
145, 992
142, 582

3,057
2,217
1,475
1,441

139,346
135,667
133,140
132, 770

14,097
10,893
9,966
10, 231

1,599
2,102
1, 484
1,929

46,177
46,176
46,176
46,176

149, 109
147, 983
150,652
149,108

145, 739 3,370
146, 589 1, 394
150, 140
512
144, 721 4,387

135, 743
133, 915
132, 219
130,449

73, 792
70,496
70,664

12, 512
9,519
9,067
6,117
9,147

16, 382
20, 059
20, 337
20, 539
19, 807
21, 209
15, 304
14, 391
13,664

241,251
234, 397
225, 423
219, 960
228, 279
225,1'48
227, 649
222, 269

933
1,634
2,246
2,814
679

46,176
46,175
46,175
46,174
46,174

221, 920
227,008
238, 487
235, 987
226, 971

149,013
151, 353
155, 046
154,865
148, 801

146, 279
148, 391
151, 675
152, 736
145, 835

2,734
2,962
3,371
2,129
2, 966

132, 703
133,134
134,515
130,646
128,831

70,
73,
77,
79,

26, 891
26, 891
27, 442
27, 442
4,121 27, 442
4,305 27,442
523 30, 869
4,819 30, 323

145,851 2,994 154,790
144,210 3,429 149,316
147, 494
573 146,869
140, 997 5, 340 145, 746

146, 590
141,064
133, 601

Oct.
Oct.
Oct.
Oct.
Oct.

1...
8...
15...
22...
29..

Nov.
Nov.
Nov.
Nov.

5...
12..
19..
26..

385
603
718
358

8,399
10,799
13, 981
16,058

14, 800
15, 363
15, 027
13, 561

13
268
395
992

46,173
46,173
47, 315
47, 747

229, 370
230,631
226,926
213, 270

156,358
154,772
161,129
144,880

151, 595
152, 936
158,155
143,577

4,763
1,836
2,974
1,303

130,090
128, 515
124,921
128,127

Dec.
Dec.
Dec.
Dec.
Dec.

3 . . . 80,127
10.. 80,006
17.. ! 83,430
24..
92,302
31. _ I 89,328

14, 036
12, 921
14, 549
24,869
13,238

16, 335
19, 206
19,287
17,930
22, 667

1, 441
955
1,818
1,727
2,648

47,315
46,924
46, 926
46,926
49, 925

223,124
217, 851
220,109
212,780
211,365

152,426
146,946
147, 868
147,381
152, 255

147, 721 4,705
146, 248
698
146, 993
875
143,950 3,431
150,936 1,319

130,568
129, 857
132, 564
138,842
132,035

80,428
79, 537

1
Includes "other securities."
Back figures for all Federal reserve districts.—See Annual Report for 1929 (Table 72), 1928 (Table 76),
1927 (Table 58), etc.




142

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE
BANK, BY WEEKS—Continued
NEW YORK
[In thousands of dollars]
Bills bought in United States
securities
open market

Date

1930
Jan. 8
Jan. 15—
Jan. 22—
Jan. 29—
Feb. 5 —
Feb. 12..
Feb. 19..
Feb. 2 6 -

Deposits

Bills
Total j
discash re-|
counted Bought Under Bought Under serves !
resale outresale
outTotal
right agree- right agreement
ment

506,319 131,177
70, 626
444,361
89, 655
427, 219
377,006j 65,104
383,373!
387, 589)
403,023!
365,148!

53,405 98,931
45,461 105,
""',243
35, 737 81, 527
31, 510 62,192

54, 720j
79, 298!
88, 7871
58,404 j

206,991
210,801
210,800
210,800!

8,265i
2,380
J

974,021
984, 708
970, 060
947,188

956,073
969, 547
952, £45
931,816

17, 948
15,161
17,815
15, 372

308, 083
294,941
286, 291
274,034

70,045
50,110
48,909
51, 249

210,800
210,800!
213,728
213, 507

1,140^ 939,600 970,166
1,550! 917,938 955, 665
2,900! 920,138 990,078
L
4, 750| 963,916 1., 011,805

956,483
942, 921
946, 080
985, 268

13, 683
12, 744
43,998
26, 537

258, 575
250,183
235,702
221,318

949,316
967, 504
928, 527
981,640

932,446
957, 233
917,944
954,721

16, 870
10, 271
10, 583
26,919

211, 032
202, 268
196, 550
196,860

20,456 122,
12,329
20,078 82,678
7
26,173 101 , 199
3 "
9,437 64,647
12,105 37, 689

207, 564 3,050! 870,914 997,919
207,564
! 884,768 971,341
192, 8631 8, 090 893, 614 990,340
192,863)
| 943,007 975,140
L,
192,863 2,305) 996,209 1, 006, 014

975,450
957,724
968, 560
957, 671
991,131

22,469
13, 617
21, 780
17,469
14,883

196,502
184, 389
180,909
174, 615
175,803

192,863
177,8631
177,058
179,048

947,990
972, 566
971, 586
960,889

39,518
39, 581
36,449
25, 588

864,041
916, 274
916,924
944,119

Federal
reserve
Mem- Other notes in
ber bank de- circulation
reserve
balances posits

II 39, 6791 23,820 41, 270
221,3351 1,050; 915,156

Mar.5—
Mar. 12..
Mar. 19..
Mar. 26-

337,3541}
337,186!
297,965| |
368,882j|

Apr.
Apr.
Apr.
Apr.
Apr.

2...,
9—_
16..
23..
30...

414,0161 i 53,8671
379,744M 62, 674!
380,091!! 43,916
308, 273: 34,126
293, 932| 4I,270i

May
May
May
May

7
14__
21.,
28-

295, 659 ij
252,074;|
262,28811
283, 600!!

57,185;
30,304!
29,280
52, 827!

8,010
22,389
21,148
17, ""'

22, 373
15, 703
30, 599
26,062

170,107
165, 213
174, 226
184,330

309,
273,
274,
231,

48, 570|
28,141!
24, 078!
38,153|

999, 538 14,639
22,108 52,545 181, 580 1, 3001 981, 088 1, 014,177
>
1
10, 770 29, 977 200, 527
Jl, 032, 780 1,023,143 1, 005, 500 17, 643
997, 224 38, 523
12, 524 23,144 190, 472 21,00l!l,042,4921 035, 747
492 1,
179,945
10,157
.,
.1,061,263 1! 020, 848 1,001,968 18,880

185, 381
182, 640
177, 697
172,481

July 2 . . .
309, 733 J
S
July 9 —
301,840
July 16..
268,8411
July 23._ I 249,577!
July 3 0 - ! 247, 77ll

48, 621!
47,2541
31,445|
26,935
33,430

35, 774 20,019
34,854 19, 858
42, 270 9,213
35, 566| 1,609
28,615. •
I

980,180 1, 033, 7581,010,281 23,477
954,069 996, 787 976,740 20,047
,
~~ ':, 708 1 053, 5861, 026, 525 27,061
J 1,059,491 1,053, 239 1,033, 682 19, 557
11,052,411 1, 043, 303 1,028,989 14,314

172,870
164,709
160, 639
158, 714
156,218

Aug.
Aug.
Aug.
Aug.

45,157J
32, 347|
32, 034)
31, 215J

33,191 11,649! 180,476
39,759 10,100 192,188!. .
187,7461
37, 203 .
42,999 1, 544|| 187,746 1

20, 234
23,175
13,353
13,015

155,352
151,665
157,237
170, 717

21,003
15,199
10,124
18,941

185,154
177,893
190,021
203,300

1,008,715 21,392
1,001,692 13,617
1,006,614 16,405
1,028,218 17,953
:,
l! 088,348 14,096

217, 536
207,237
218,120
240, 278
241,615

33,148|
30,810
36,858!

16,125 44,433 231,430
6,635
796 250,974
4,17" 101,574 217, 064
6

2,000' 931,121
2,000 925,291
2,460 916,153

j!

June 4
June 11...
June 18...
June 25. _

953!'
265
569i
505|

6__>
1320.
27-

!

Sept.
Sept.
Sept.
Sept.

3.._
10..
1724-

29,001
12,918
29,402
29,357

307, 248!
270,1141
281,592j
260,681|

63, 575
26,122
21,603
24,138

43, 271 6,106
38, 742 12, 554
56,9511 2, 648
44,253!.

951,703 970, 363
1,001,364 988, 269
1,00011,018,130 L, 002,185
L,
jl, 018,9971. 016,951

186,369
181,304
180, 663
180, 217
180,476

187,746
187,946
195,390
187,540

957, 562
! 952, 709 977,796
982,9771,018,848
995,673
I 990,352 1,001,431
988,078
jl, 019, 520 1,025,693 jl, 012, 678
i!
1
j 963,662 986,941! 975, 938
11,020, 477 ,020,5611 1, 005, 362
11,033,2691, 032, 328! 1,022,204
1,085,5851, 045,265| 1,026,324

!

1

Oct.
Oct.
Oct.
Oct.
Oct.

1__.
8__.
15...
22...
29—

266,035|
299,980!
306,113!
266,097'
273,008 :

26,392
25,649
57,749
31,838
38,547

43,246 5,407 186,240
58,858 24,983 186,240
35,204 21, 569 187,341
32,477 10,192 187,340
41,645 1,226 187,340

,
, 080,378 1 030,107
,023,2 "^ , 015,309
2181
, 023,019
, 024, 8871;
[,
.,121, 262 , 046,171
,
1
,177, 159 1
,102, 4441
,

Nov.
Nov.
Nov.
Nov.

5...
12..
19..
26-

294,761)1
288,8341!
267,137|
278,036!

54,078
32,768
31, 546
38, 205

45,664
63,544
45,897
46,810

. 076, 559, 026,356 1,000,279
,
1
, 103,997 1, 090, 6271,074,3861
,059,499 1,035,836
, 138,423 1
!
,
1
,133, 664 , 046,887 1,033,202

26,077
16,241
23,663
13,685

239,820
233,069
242,174
259,038

Dec.
Dec.
Dec.
Dec.
Dec.

3...
101724..
31-

312,25311 46,965 59, 728
340,69711 60,775 65, 285
442,994
77, 740 59,367
476,284 141,486 69,048
506,353
61,898 129,180

1,090,185 1,035,056 1,013,238!
192,370
190, 499 13,000 1,121, 221 1,073,047 1,047,884!
062,604 1,052,118
283,351
012,178
991,317
230, 551
246,929 36,403J1,007,122 1,047,001 1,062,276

21,818
25,163
10,486
20,861
15, 571

271,472
283,420
353,951
399,542
384,976

1 Includes "other securities."




3,429 187, 340
932 187, 340
185,444
1,401 187,370
8,940
11,138
18,086
29, 749
29,093

T

143

EACH FEDERAL RESERVE BANK

No. 78.—PBINCIPAL RESOURCES AND LIABILITIES OP EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
PHILADELPHIA
[In thousands of dollars]

Date

Bills bought in United States
open market
securities
Total
Bills
bills
Total
disand
cash resecuri- counted Bought Under Bought Under serves
outties i
outright agreement

Deposits

Total

Federal
reserve
notes in
Member bank Other circuladereserve posits tion
balances

I
1930
Jan.8__.
Jan. 15. _.
Jan. 2 2 . .
Jan. 29._

106,862
102,300
103,136
103,101

56,695
49,817
50,927
50, 399

7,361
8,585
8,311
8,804

41,806
42,898
42,898
42, 898

Feb.
Feb.
Feb.
Feb.

5...
12..
19..
26..

102,802
104, 248
101.340
105,967

48, 978 9,926
50, 552 9,798
47,056 9,799
49,710 11, 772

Mar.
Mar.
Mar.
Mar.

5___
12..
19 .
26..

94,392
94, 880

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9...
16..
23..
30..

153,107
156,045
145,451
144,475

42,898
42,898
43,485
43,485

213,095 !137, 375 136, 325 1, 050
219,429 !136, 419 134,750 1,669
207,306 134, 081 132,311 I 1,770
210,074 I135, 594 133, 555 2, 039
!
210,953 139, 559 137,187 2,372
212,189 133, 710 132, 207 1,503
209, 656 135, 791 134, 062 1,729
207, 845 132,892 130,436 2,456

85,253

33, 583 11, 324
38,424 10,232
32,492 9.404
31, 297 6,831

43, 485
45, 224
46, 707
46,125

222, 043
215,920
224, 839
226, 655

138,808 1,095
133,294 J 777
137,065 !1,518
133,496 j1,116

144,806
143,848
142,501
142,845

86,169
84,710
82,921
83,182 I
84,693

31, 434
27, 649
26,950
27,297
29, 581

8,760
7,987

46,125
46,125
46,125
46,125
46,125

139, 903
134,071
138, 583
134, 612
234,185 145,462
228, 558 136,137
233,908 137, 247
232,975 140, 728
226.150 136, 249

140, 752
134, 566
133,174
137, 753
134, 329

4,710
1,571
4,073
2,975
1,920

144,492
143, 688
148,165
142, 534
142,200

May 7...
May 14...
May 21...
May 28..

81,916
81,193 {
81,245 !
82,714 I

27, 770
28, 519
29,431
31,496

7,021
5,549
4,689
4,093

46,125
46,125
46,125
46,125

229,947
227, 806
218, 727
220.151

3,095
1,042
905
3,653

139,950
138,075
132, 372
137,367

June 4

79,875 !
80,241 !
79,350 i

28, 203
26,292
25,477
81,867 I 28,204

3,352
2,744
2,671
2,461

47, 320
50, 205
50, 202
50, 202

229,876
222, 658
225,592
221,372

3,972
2,860
1,262
5,018

131, 363
129,125
128,053
127, 555

2,396
1,987

50, 202
50, 202
50, 202
50, 202
50, 202

139.445 136,350
139, 006 137,964
135,139 134, 234
130, 798 127,145
146,304 142,332
142, 097 139, 237
141, 338 140,076
142, 111 137, 093
140, 846 138, 634
143,864 139,413
148,834 147, 723
139, 332 138, 077
139, 979 137,442

2,212
4,451
1,111
1,255
2,537

129, 936
125, 366
125, 675
123, 864
125,886

142, 354
141, 904
144, 982
140, 594

138, 290
140, 007
143,110
138, 570

4,064
1,897
1,872
2,024

123,898
127, 032
124,169
124,158

141,162
143, 089
145, 514
140, 955
142. 909
141, 017
142, 035
141, 642
140, 436

4,560
1,357
743
3.390

126, 022
122,931
123,499
120,826

2,602
2,967
3,619
1,927
2,321

120,997
118> 220
120, 233
114,940
115,252

4,695
2,283
2, 675
1,578

118. 220
120, 770
116,261
123, 249

5,948
1,032
828
4,044
2,065

124,816
126,489
129, 525
161, 293
153, 727

June 11...
June 18...
June 25...

7,610

July 2 . . . .
July9_...
July 16...
July 2 3 . . .
July 30...

83,720 !
78,827 I
75,712
73,062
72, 507

30,122
25,638
23, 584
20, 972
20, 590

Aug. 6
Aug. 13...
Aug. 20...
Aug. 27...

71, 262
70, 575
69,959
70, 023

19, 461
17, 218
16, 604
16, 668

105
103
103

50, 202
52, 252
52, 252
52, 252

217, 918
223, 755
230, 878
220, 694
225,823
227,136
231,409
231, 715
227,499

Sept. 3...
Sept. 10..
Sept. 17_.
Sept. 24 _.

69,849
71, 389
68, 026
67, 791

16, 493
18, 033
14, 670
14, 435

104
104
104
104

52, 252
52, 252
52, 252
52, 252

234, 037
227, 267
239, 222
230,184

145, 722
144.446
146, 257
144, 345

Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.

l.._.
8
15._.
22...
29._.
5_...
12...
19__.
26...

70,270
68,637
70,770
73,094
74,655

16, 914
15, 281
17, 414
18,838
19, 783

104
104
104
1,004
1,620

52, 252
52, 252
52, 252
52, 252
52, 252

226, 591
225, 747
226,126
218, 254
216,958

145, 511
143, 984
145, 654
143, 569
142, 757

73, 969 18, 387
74, 656 18, 459
75,849 18,374
79, 408 ! 21,454

2,330
2,945
2,945
2,945

52, 252
52, 252
53, 530
54, 009

226,879
229, 036
218, 629
217, 572

146, 983
145, 985
144, 339
138, 326

Dec.
Dec.
Dec.
Dec.
Dec.

3....
10...
17...
24...
31...

78, 979
78, 398
78, 718
95, 253
83.973

3,300
3,489
3,495
3,495
3,496

53, 530
53, 098
50, 999
50, 999
54, 204

229, 086
229, 583
231, 971
237,077
247, 426

151, 459
146,165
141, 862
142,194
144, 604

1

I
I
i
!
i
!

21,149
21,811
24, 224
40, 759
25, 663

Includes "other securities/'




142, 288
143, 702
141, 664
136, 748
145, 511
145,133
141, 034
138,150
142, 539

142,908
146,886
143, 695
147, 758

144

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OP EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
CLEVELAND
fin thousands of dollars]

Date

Bills bought in United States
securities
open market
Total
Bills
Total
bills
discash reand
securi- counted Bought Under Bought Under serves
out- resale out- resald
ties i
right agree- right agreement
ment

Deposits

Total

Federal
reserve
Mem- Other notes in
circulaber bank dereserve posits tion
balances

I
1930
Jan. 8
Jan. 15.. _
Jan. 22...
Jan. 29...

127, 647
128, 769
119,912
112,147

78,970
77,669
65,590
58, 355

17,698
19,334
22,556
22,026

29,479 !
30,266
30,266
30,266

Feb.
Feb.
Feb.
Feb.

113, 905 54,827
114, 357 54, 590
112,517 49, 374
110, 722 46,386

27,312
28,001
32,453
33,646

30,266
30,266 |
30,690 {
30,690 I..

5
12..
19..
26...

270,872
261,404
266, 373
276, 725

018
063
280
719

183,805
179,113
182,412
180,681

3,213
2,950
2,868
3,038

274,492
| 282,143
I 285,168
284,641

189, 352
184, 688
190, 489
183,695

186, 696
182,647
187, 789
180, 296

2,656
2,041
2,700
3,399

187,
182,
185,
183,

I

185, 635
180, 744
174,961
176, 556

Mar. 5— 100,196
Mar. 12.. 95, 571
Mar. 19- 86, 507
Mar. 26... 80, 516

40,119 | 29,387
34, 316 28, 024
25, 263 25, 828
26, 470 19, 051

30,690
33, 231
35, 416
34,995

297, 816
305,909
308,394
319,194

189, 009
189, 378
189,913
189, 379

187, 080
186, 898
187,323
186, 829

1,929
2,480
2,590
2,550

171,493
180, 211
175, 096
181,108
178,907
181,351
175, 264
180,475

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9
16..
23..
30...

78,656
77,484
94,867
92,982
90,324

27, 834
26, 095
25,528
22,870
20, 717

15,827
16,394
19,344
20,117
19,611

34, 995
34,995
49, 995
49,995
49, 996

326,961
327, 531
308, 453
308, 901
313,171

196,476
189, 332
193,103
190,023
191,140

190, 719 5,757
184, 340 ! 4, £92
190, 249 2,854
186,822 3,201
187, 220 3,920

178, 481
183, 731
181, 258
181,440
182, 277

May
May
May
May

7—
14..
21...
28...

87,304
86,917
81,416
82,659

20,955
22,974
18,371
21,531

| 16,353
! 13,947
j 13,049
11,132

49,
49,996
49,996
49, 996

317, 939
316, 842
325, 653
332,459

193,917
188, 683
198,671
195, 669

190, 513
185,421
194, 585
191, 523

3,404
3,262
4,086
4,146

180,861
183, 213
178,663
187, 083

June 11-.
June 18..
June 25-.

85, 270
85,117
93, 353

17,924 11,447
20, 258 9,670
20, 276 9,499
29, 341 8,670

51, 562
55, 341
55, 342
55, 342

332, 575
333, 814
327, 340
329,849

200,060
200,191
201, 205
204,832

195,682
195,966
198, 264
196,853

4,378
4,225
2,941
7,979

183,084
187, 335
182, 356
187,099

July 2 . . .
July 9 . . .
July 16..
July 23..
July30_.

98,874
95,514
93,463
86,841
87,629

31,922
29,965
24,106
17,434
19,036

11,610
10, 207
14,015
I 14,065
i 13,251

55, 342
55, 342
55, 342
55, 342
55, 342

325,623
337, 275
331,486
331,496
333, 954

202, 046
208, 273
207, 467
203, 315
204,836

Aug.
Aug.
Aug.
Aug.

83, 392
86,126
86,802
88,471

16,111 |11, 939
15,320 12,950
13,796 j15,150
15,071 !15, 544

55, 342
57,856
57,856
57, 856

335, 592
341,983
337,918
335,827

201, 567
204,986
209, 659
203, 124

197, 319
203,065
204, 020
199, 447
200,839
196,944
200,196
205, 587
199,319

90, 308
91, 596
91,427
95, 535

15,501
13,140
11,810
15,173

|16,951
i 20, 600
|21,762
|22, 507

57,856
57, 856
57,855
57, 855

I 341,672
..._| 339,867
I 328,759
-_..| 327,713

209,010
207, 261
203,703
202,870

203, 497
203, 477
201,620
198, 522

191,887
193, 333
189, 029
185, 966
185, 549
4,623 185, 279
4,790 192,687
4,072 185,629
3,805 190, 845
5, 513 190, 522
3,784 193,881
2,083 188,341
4,348 188,331

Oct. 1 . . .
Oct.8
Oct. 15-..
Oct. 22...
Oct. 29__

. 96,254
_| 99,580
.1105,006
. 1104, 296

20,412
21, 086
24, 071
27,049
25, 884

20, 414
17,313
17,654
20,102
20, 557

57,855
57,855
57,855
57,855
57,855

316, 258
321,652
320,106
310,403
307,436

198,643
201, 684
204,465
203, 226
198, 624

193, 813
196, 530
201, 903
199,194
194, 432

4,830
5,154
2, 562
4,032
4,192

185, 464
186, 061
185,997
182,493
182,166

Nov.
Nov.
Nov.
Nov.

5—
12_.
19_ _
26..

.1104,499
.!104, 383
,105,930
. 1108,343

24,728
25, 002
27, 905
30,649

21,916
21, 526
18,605 |
17,687 I

57,855
57,855
59,420
60,007

307, 357
308,487
305, 074
305,322

201, 554
193, 715
196, 720
193,794

195, 775
189, 507 4,208
192, 552 4,168
190,008 3,786

179,308
185,445
184,468
188,563

Dec.3--_
Dec. 10..
Dec. 17-_
Dec. 2 4 . .
Dec. 3 1 . .

.1114, 318
.! 116, 432
.1125,683
-i 127, 785
J127, 072

34,021
32,089
42, 225
47, 556
37, 216

20,877
23, 204
23, 565
20,336
25,931

59, 420
61,139
58,893
58,893
62,925

306,015
302,875
289, 449
300, 217
286,567

198, 509
193,107
190,925
193. 920
191,889

191, 967
190,162
187,574
187,674
186,377

189,992
194, 030
193, 712
203,650
194,948

June 4

6
13-.
20..
27...

Sept. 3...
Sept. 10..
Sept. 17...
Sept. 24..

1

Includes "other securities."




4,727
5,208
3,447
3,808
3,997

6, 542
2,945
3,351
6,246
5,512

145

EACH FEDERAL RESERVE BANK
No.

78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
RICHMOND
[In thousands of dollars]

Date

| Bills bought in United States
securities
I open market
Total
Total
bills
Bills !
and
dis- I
Under cash resecuri- counted Bought Under Bought resale serves
resale
ties
out- agree- out- agreeright ment right ment

1930
Jan. 8 —
Jan. 15...
Jan. 22...
Jan. 29...

53,333
51, 556
46,049
46,333

32, 561
29,918
24, 610
25, 676

11, 213
11, 736
11, 537
10, 755

9,902
9,902

Feb.
Feb.
Feb.
Feb.

5...
12..
19..
26..

45, 392
44,473
46,935
45, 066

22, 511
21,015
22,951
20,906

12,979
13, 556
13, 898
14,074

Mar.
Mar.
Mar.
Mar.

5...
12..
19..
26-

41, 703
39,493
39, 536
38, 366

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9...
16..
23..
30..

36, 076
35.987
39, 249
39, 504
40, 549

18,257
16, 683
14, 707
15, 304
14, 648
13, 380
15, 687
16, 402
18,931

May
May
May
May

7___
14..
21..
28..

38,409
38, 451
38, 271
36, 733

17, 623
16, 807
16, 737
16, 521

8,146
9,004

June 4...
June ll._
June 18..
June 25..

18,707
18,382
19,146
21,417

110,096 j
105,916 !
117,878 I
113, 520 ;

Deposits

Total

Federa
reserve
notes in
Member bank Other circuladereserve posits tion
balances

68, 820
66,990
74,367
70, 749

65,233
64,114
70, 371
64,903

3, 587
2,876
3,S96
5,846

89, 873
86,373
84,441
82,461

9,902
9,902
10, 086
10, 086

112,380 !
112,877 I 65,228
108,075 66, 862
108,393 j 66,434

67, 270
62, 386
65,188
64, 083

1,810
2,842
1,674
2,351

81,249
79, 605
79,999
78, 598

13,360
12, 724
12, 007
10,422

10, 086
10, 086
12, 822
12, 640

109,434
109,407
109,004 !
107,986 !

65, 582
64,970
65,090
65, 776

402
65,180
64,459
511
64,277
813
63, 963 1,813

77, 645
75,781
74, 360
73,188

9, 967
10,922
10, 462
8,978

12, 639
j 12,640
12,640
12, 640
12, 640

117,019 ;
116,064 !
108,544 !
103,197 !
104,207 |

71, 203
69, 612
66, 782
64, 992
67, 039

65, 869
64, 642
63, 088
61,742
63, 736

5,334
4,970
3,694
3, 250
3,303

72, 915
72, 293
72,164
69,822
68,726

7,572

12, 640
12, 640
12, 640
12, 640

104,986
103,266
104,798
105,636

65, 673
65, 801
68,867
66,171

64,190
64, 386
66,468
61,170

1,483
1,415
2,399
5,001

68,977
67,145
66,711
66, 552

7,776
6,662
5,681
5,644

13, 505
15, 594
15, 594
15, 594

104,397 I
99,701
96,760
99.396 |

67, 987
65,879
62,430
69, 358

65,077 2,910
2,891
554
61, 876
62, 522 6,836

67, 500
65, 857
64, 888
64,020

22,649
19, 589
18, 305
19,446
19,419

6,384
8,108
7,856
6,340

15, 594
15,594
15, 594
15, 594
15, 594

98,226 i
101,199:
96,750
94,306 |
94,294 !

66,132
69,980
68.450
66, 778
66, 505

61,929
65,121
64,824
•62,832
62,971

4,203
4,859
3,946
3,734

67,233
65, 275
63,831
62,868
61,880

1,559

July
July
July
July
July

2...
9...
16..
23..
30. -

39.988
40, 638
40, 421
42, 655
45,049
41, 567
42,007
42,896
41, 353

Aug.
Aug.
Aug.
Aug.

6...
13^.
2027-

42, 786
43,962
49, 371
47,146

21, 285
19, 497
23, 521
20, 628

5,907
7,482
8,867
9,535

15, 594
16,983
16, 983
16,983

96,887 69, 606
95.397 i 69,145
89,762 69,025
88,410 64,6£8

64,828
63,016
64, 236
60,963

4,778
6,129
4,789
3,735

62, 512
62,198
61, 980
62,535

Sept. 3 —
Sept. 10Sept. 17Sept. 24-

47,450
47,483
47,115
46,932

21, 648 8,819
20,299 10, 201
18, 947 11,186
19,036 10,913

16, 983
16, 982
16, 983

92, 252
89,811
87, 641
96,880

64, 707 2,743
63,403 1,934
63,321
617
63,038 7,217

63, 940
62,932
63, 763
64,053

Oct. 1 . . .
Oct. 8—.
Oct. 15...
Oct. 22...
Oct. 29_.

45,955
43, 788
43, 377
45,699
44, 587

18,374 10, 598
17, 747 9,058
18,002 8,392
18,997 9,719
8,768

16, 983
16, 983
16,983
16,983
16,983

99,082
100,720
97, 236
96,199
95,061

67,450
65, 337
63, 938
70,255
71.451
69,784
67,558
65,190
66, 271

64, 791
63,509
63,822
62,437
62, 653

6,660
6,275
3,736
2,753
3,618

64,835
66,028
66,809
67,161
65,858

Nov.
Nov.
Nov.
Nov.

5—
1219..
26..

44,997
45, 794
49, 673
56,853

17,800
17,721
22,000
29,341

10, 214
11,090
9,825
9,340

16,983
16, 983
17,848
18,172

103,494

63,314
62,257
63, 233
62,627

2,333
2,212
2,613
4,535

68, 555
68, 537
68,076
73, 701

Dec.
Dec.
Dec.
Dec.
Dec.

3...
10..
1724..
31-

54,185
58, 603
56,891
61,044
47,609

25,185
28, 224
32,171
38, 459
22, 766

11,152
12,824
12, 459
10,324
10,936

17,848
17, 555
12, 261
12, 261
13, 907

100, 755
95, 707
116,895
117,300
120,124

65, 647
64, 469
65,846
67,162
67, 716
60,909
62, 740

63,842 3,874
370
60, 539
422
62, 318
59, 755 4,938
853
60,820

78,182
84,966
107,624
108, 279
100, 515




91, 599
93, 674

61, 673

146

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL

RESERVE

BANK, BY WEEKS—Continued
ATLANTA
{In thousands of dollars]

Date

1930
Jan. 8
Jan. 15—
Jan. 22—
Jan. 29__.
Feb. 5—.
Feb. 12...
Feb. 19...
Feb. 26...

Bills bought in United States
securities
open market
Total
bills
Bills
Total
and
discash resecuri- counted Bought Under Bought Under serves
ties i
! out- resale out- resale
! right agree- right agreement
ment

62,944
60,416
56, 232
52,151

35,628
32,884

54, 277
53, 526
51, 611
52,879

Mar. 5—.
Mar. 12...
Mar. 19...
Mar. 26...

Deposits

Total

Federal
reserve
notes in
Member bank Other circuladereserve posits tion
balances

146, 430
146, 500
147, 660
149,666
150, 313
149, 663
152,046
150,011

66,702
67,143
69,522
67,823

63,687
65,080
66,009
63,703

3,015
2,063
3,513
4,120

137, 622
133, 286
131, 764
128,486

66,058
70,735
64,409
65, 493

2,963
8,520
1,202
2,684

132,087
131,327
131, 709
130, 434

8,852
8,777

153,426
156,064
162, 736
162,895

65, 263
66,409
65, 380
65,260

63,095
62, 215
63, 207
62,809
64,830
65,967
64, 519
64,775

433
442
861
485

133, 597
132,017
130, 684
128,589

8,767
8,789
8,802
8,792

163, 784
165,485
160, 437
147,119
144,770

66, 203
67,192
68,972
68,962
67,339

2, 670 129,829
3,381 128, 390
128, 256
3,426 127,057
2,740 127,896

19,911 !
16,405
16, 606
13, 291

! 8,827
8,833
8,787
9,030

152,199
148, 662
144, 391
144,500

70,904
65,815
63,526
64,491

63, 533
63,811
65,088
65, 536
64, 599
67,046
64,465
61, 283
61,038

3,858
1,350
2,243
3,453

128, 281
125,851
124,970
123,746

32,788
30,189

11,896
10, 520
8,965
26, 335 8,537 !

9,928
3,433
11,396
11,769

66,453
64,972
62,715
64,358

62,082 4,371
62,368 2,604
353
62,362
61,075 3,283

125, 556
134,092
128,866
124, 316

29,552 i 10,153
28,940 8,475
30,146 9,492
27, 628 9,068
28, 343 7,864

11,374
11, a
" '
11,950
11,425

145,169
155,205
151,012
147,881
142,924
144, 452
135, 208
136,178
135,112

64,438
66, 862
62, 565
62,001
62, 069

61,451
62, 6G1
60, 710
59,331
58, 699

2,987
4,201
1,855
2,670
3,370

50, 356
52, 299
51, 894

28,920 6,464
29, 561 8,104
30,026 ! 9,417
29,558 ! 9,601

11,424
12, 691
12, 856
12, 735

139, 493
133, 853
128, 785
127, 732

64,455
63, 299
61,438
61, 579

60,095
58, 356
60,161
58, 863

4,360
4,943
1,277
2,716

123, 442
121, 522
119, 000
116,165
114, 715
115, 341
114, 356
113,335
112, 210

Sept. 3 — .
Sept. 10..
Sept. 17..
Sept. 24_.

55, 028
55,106
50, 464
50,173

32,141
30, 703
24, 716
24, 607

12,700
12,721
12,703
12,906

130, 893
130, 532
130, 811
129,279

62, 012 2,996
60, 934 6,324
834
59,900
60, 521 2,388

113,611
112.180
112,049
110,123

Oct. 1___.
Oct. 8___.
Oct. 15__.
Oct. 22__
Oct. 29_-,

51, 882
47,144
47, 443
47, 098
45, 518

26,497 12,679 i
24, 203 10,215 !
24, 208 10,461 l._
24, 433 9,887
23, 618 9,131

12,706
12,728
12,774
12,778
12,769

143, 935
147,964
141, 523
140, 855
137, 282

65, 008
67, 258
60, 734
62,909
60,950
63,783
62,074
62.473
58,, 966

58, 783
60,784
59,476
60, 643
56, 606

2,167
2,598
1,830
2,360

127, 850
124, 572
120,822
118, 715
117, 082

Nov.
Nov.
Nov.
Nov.

5—.
12...
19...
26..

46,964
46, 041
45, 583
47,188

23, 881 10, 233
22,412 10. 864
27,496 10, 363
29, 642 9; 853

12, 850
12, 765
7,724
7,693

66,432
59,713
61, 632
59, 654

60, 004
56, 824
58, 941
56, 937

6,428
2,889
2,691
2,717

118, 997
121, 832
123,992
123, 403

Dec.
Dec.
Dec.
Dec.
Dec.

3—.
1017...
2431 —

53, 567
54, 880
51, 624
50, 016
42, 301

32,985
32, 415
28, 947
28, 814
18, 069

143,460
142,175
145, 398
142, 541
141,108
135, 293
142, 063
151,959
! 159,425

63, 536
60,509
58,849
61, 926
62,911

59,435 4,101
401
60,108
58, 356
493
58, 461 3,465
61.014 1,897

125,065
123,935
126, 285
135,983
133, 854

26,959

18,465
18,699
18,714
16, 402

8,851
8,833
8,850
8,790

26, 527
25, 385
23,457
24, 043

18,878
19, 350
19, 366
20,058

8,872
8,791
8,788
8,778

54,058
49,875
41, 745
38,414

26, 263
24,319
17, 765
14, 534

18,943
16, 779
15,154
15,081

Apr. 2
Apr. 9
Apr. 16...
Apr. 23...
Apr. 30...
May 7....
May 14...
May 21~.
May 28-..

39, 275
37,625
44,902
55, 612
56, 706

16, 297
15,197
15,672
22,053
25, 052

14,211
13,639
20,332
24, 757
22, 262

53,928
50,173
51,396
51,035

25,190
24, 935
26,003
28, 714

June 4
June 11_..
June 18...
June 25-..
July 2
July9.__.
July 16...
July 23...
July 30. _.

54, 612
44,142
49,000
46, 641
51,079
48, 783
51, 588
48,121
47, 640

Aug. 6
Aug. 13...
Aug. 20-.
Aug. 27-_.

1

10,187
11,682
13,045
12,660

12,795
14, 741
14, 896
13. 430
15 755

Includes "other securities."




I
|
I
!
.

7,787
7,724
7,781
7,772
',877 ;

147

EACH FEDERAL RESERVE BANK
No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL

RESERVE

BANK, BY WEEKS—Continued
CHICAGO
(In thousands of dollars]

Date

1930
Jan.8
Jan. 15—
Jan. 22...
Jan. 29...
Feb. 5 . . .
Feb. 12..
Feb. 19._
Feb. 26..

Bills bought in United States I
securities
open market
Total
Total
Bills
bills
cash reand
dis"™*
securi- counted Bought Under Bought Under
ties i
outout- resale «„+. resale
right agree- right I agreement
ment

Deposits

Total

i

Federal
reserve
Mem- Other notes in
circulaber bank dereserve posits tion
balances

199, 212
191,156
175,119
173,827

96,919
86,865
73, 704
77, 555

27,316
28, 550
26, 578
22, 450

5,042
3,685
2,961
1,876

68,400 ;
70,376
70,376 |
70,376 j

35 470,954 343,470
180 471, 615 340, 259
502, 111 347, 369
70 496,628 339, 581

340,151
330,164
343,666
335,034

3,319
4,095
3,703
4,547

295, 337
289,607
298, 532
292, 831

176,042
166,410
156, 571
152, 614

74.799
65; 939
54, 079
48,497

3,629
3,270
2, 652
2,510

70,376
70,376
71, 339
71, 339

30
505
135
395

333,935
330,168
323, 692
330, 659

6,121
1,901
6,533
4,212

294, 534
297,475
295, 628
295, 981

2,946
3, 398
2,185
4,112

71, 339
71, 339
71,339
70, 384

531, 514
120 543,116
1,180 534,126
255 543, 637

337,353
345,458
332, 558
340, 885

335, 593
343,909
330, 963
337, 580

1,760
1,549
1,595
3,305

305, 700
298, 686
290,632
285,399

498,497 340, 056
502,614 332,069
j 506,695 330,225
i 517,984 334,871

Mar.
Mar.
Mar.
Mar.

5....
12..
19..
26..

149,187
139, 579
123,026
116, 599

49, 756
38,358
24,179
22,685

25, 708
24,820
28, 366
29, 873
25,146
26, 364
24,143
19.163

Apr.
Apr.
Apr.
Apr.
Apr.

2 . . . 121, 238
9 . . . 114,696
16.. 121, 321
23.. 115, 251
30.. 113,191

22,049
19, 711
24, 879
22, 206
23,298

20, 382
20,623
20,819
18,653
17,325

7,883
3,603
5,139
3,818
2,104

70, 384
70, 384
70,384
70,384
70, 384

540 551,926
375 540, 377
100 539,832
190 539, 643
80 545,197

353,341
342, 316
356,767
354, 352
364, 567

346, 250
339, 504
353, 417
350, 075
361, 241

7,091
2,812
3,350
4,277
3,326

280,896
274,854
267,285
262, 636
254, 510

May
May
May
May

7...
14..
21..
28..

106,886
106,009
107,972
107,423

21,900
17,967
18, 779
17, 365

11,944
15, 201
16,187
15, 665

2,428
2,192
1,997
3,689

70, 384
70,384
70, 384
70,384

230 524,471 347, 954
265 522, 507 352,896
625 517,357 355,143
320 498, 098 341, 257

343,478
350, 724
351, 894
333, 579

4,476
2,172
3,249
7,678

246,716
237,802
231,434
226,056

June 4...
June 11..
June 18__
June 25..

108,978
111, 280
108, 578
113,693

18, 391
16, 492
15, 622
19,034

15,181
13,021
11,777
13, 540

2,546
3,955
3,307
3,152

72,485
77, 557
77, 557
77, 557

375
255
315
410

495,412
! 491,043
483,693
470,161

346, 541
353, 331
348, 544
343, 697

344,415
348, 514
346,414
339, 879

2,126
4,817
2,130
3,818

219,253
211,596
205, 910
201,438

July 2 . . .
July 9 . . .
July 10..
July 23..
July 30...

116,009
114,094
119,574
117,838
114,375

19,840
18, 756
18, 475
17,321
16,740

15, 982
14, 672
22.192
21,629
19,175

2, 465
3,034
1,125
1,281
858

77,557
77, 557
77, 557
77,557
77, 557

165
75
225
50
45

473,998
489,900
468, 205
454, 877
455,497

350,448
371,034
358, 396
347, 394
350,969

339, 313
367, 823
354,470
344.134
346, 684

11,135
3,211
3,926
3,260
4,285

199,460
196, 259
191,910
187,158
180, 507

Aug.
Aug.
Aug.
Aug.

106,617
111,809
118,431
114,700

15,817
15, 243
15, 509
15,922

484
1,463
5, 540
1,731

77, 557
81,128
81,128
81,128

361,
352,
356,
355,

891
520
477
798

3, 454
5,011
8,927
5.749

177,106
174, 772
172, 299
169,862

15,762
13,048
11,097
11,286

702
1,041
1,610
628

81,128
81,128
81, 778
81,128

473, 267
185 458, 667
90 457,007
454,382
405 447,877
170 434,133
420 442,816
150 424,021

365, 345
357, 531
365, 404
361, 547
351,851
349,944
357, 856
342, 504

348,
346,
356,
338,

268
603
292
593

3,583
3,341
1,564
3,911

168, 365
165.172
162,188
159, 372

1...
8...
15..
22. _
29..

110, 589
113, 690
114, 503
114,069
117, 502
114,139
114, 715
118,663
120, 840

12, 759
13, 790
16.164
15,919
12, 592
18,303
19, 598
20,877
17, 601
16,451
17,432
20, 880
20. 571

1,302
1,314
2,575
2,710
1,848

81,128
81,128
81,128
81,128
81,128

840 413,003 337, 579
150 430, 256 352,003
439, 289 361, 265
418,911 349.120
408,061 342, 239

333, 243
345, 082
359.135
345, 540
339, 289

4,336
6,921
2,130
3, 580
2,950

155,900
154,183
152,624
149, 893
146,920

Nov. 5...
Nov. 12
Nov. 19..
Nov. 26..

120,173
118,413
120, 487
122, 244

18,370 18, 954 1,671 81,128
15,902 20,073 1,310 81,128
17,138 18, 752 1,244 83,353
19,113 18.193
751 84,187

Dec.
Dec.
Dec.
Dec.
Dec.

128, 291 21,159
132, 332 22,410
137,385 23,144
146, 903 31,674
165, 777 22,804

6...
13..
20..
27..

Sept. 3...
Sept. 10..
Sept 17..
Sept. 24..
Oct.
Oct.
Oct.
Oct.
Oct.

1

3...
10._
17..
24...
31._

16, 631
15,096
13, 580
13, 945
17, 293

22,927
24, 663
28, 043
29, 853
49, 882

Includes "other securities."




852
2,660
2, 595
1,742
2, 488

50 419, 509
425,114
403,426
402, 924

348, 731
354, 637
343, Ifi2
342. 893

345,877
352, 542
339, 555
337,019

2,854
2,095
3,607
5,874

144,973
143, 713
142,115
141.173

402, 252
83, 353
395, 902
82, 599
396,854
82, 603
82, 603
31 370, 420
82, 603 7,000 375,462

349, 877
347,100
351,992
348, 327
365,152

346,472
345, 318
349,832
340, 513
360,832

3, 405
1,782
2,160
7,814
4,320

141,040
141,937
141,347
141,453
139,162

148
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
ST. LOUIS
[In thousands of dollars]
[ Bills bought in United States
securities
i open market

Deposits

Bills
Total
I
I
discash recounted Bought Under Bought Under serves
resale
resale
I OUtagreeagree- outi right ment right ment

Date

Jan.
Jan.
Jan.
Jan.

1930
8__.
15. _
22._
29. _

Feb.
Feb.
Feb.
Feb.

5...
12,.
19..
26..

49,633
51,374
55,177
56,167

Mar.
Mar.
Mar.
Mar.

5...
12..
19..
26..

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9...
16..
23..
30..

51,062
48, 933
45,293
41.070
41,484
42,280
44, 939

May
May
May
May
June
June
June
June

Total

Federal
reserve
notes in
Member bank Other circulation
reserve debalances posits

29,266
19,
19,266
19,266

120.520
128,622
123,825
124,554

82,476
81,696
80,482
80, 729

79,693
79,666
78,584
78,554

14,325 16,012
15,189 16,889
17,829 18,052
16,449 20,422

19,266
19,266
19,266 L
19,266 L

122,055
120,158
118,319
114,099

80,027
85,919
80,120
79, 556

14,574 17,
14,450 15,
12,341 13,
12, 239

19,266 I
19,266 L
19,266 |
.
19,268 I-

118,796
120,348
126.521
126,253

77,214
78, 766
80,665
80,239

78,215 1,812
74,159 11, 760
78,208 1,912
77,078 2,478
76,542
672
78,089
677
80,073
592
79,528
711

83.372
81,479
81, 380
79, 323

45, 741
45,249

13,357
12,628
14,518
14,703
16,118

19,268 L
19,268 L
19,268
19,268
19,268

127,375
126,040
129,146
123,182
119,250

80,547
81,126
84,389
82,060
78,139

79,008
79,964
82, 749
79, 708
75,836

1,539
1,162
1,640
2,352
2,303

79,146
77,691
78, 910
76.193
76,000

7—_
14_.
21..
28..

42,354
44,211
45,398
45,877

13,606
14,506
16,932
19,258

I 9,480
10,437
i 9,198
! 7,351

19, 268
19,268
19, 268
19,268

124,218
119,433
119,268
120,081

81, 741
78,351
79,458

79,511
77,012
77,413
78, 845

2,230
1,339
2,045
2,048

76,698
75,990
75, 764
74, 912

4...
11..
18,.
25..

48, 427
44,359
46,421
43,614

21,127
15,478
18, 941
16, 863

7,043
6,238
4,837
4,108 L

20,257
22,643
22, 643
22,643

119,072
116,527
118,082
118,462

82,212
78,913
80, 745
81,093

79, 637
77,131
80,089
78,422

2,575
1,782
656
2,671

74,409
72,474
72,640
71.194

July 2___
July9.__
July 16. _.
July 23...
July 30...

45, 507
45,195
46,047
45, 793
41, 583

16,019
16,556
16,406
17,303
13,135

6,845 L
5,996 L.

22,643
22,643
22, 643
22,643
22,643

115,170
114,617
112,181
111,717
114,298

77, 771
78,237
78, 713
78,522
77,626

75,645
76,255
77,323
76,977
75,345

2,126
1,982
1,390
1,545
2,281

73,323
71, 953
70,923
69,751
69,109

Aug.
Aug.
Aug.
Aug.

6...
13-.
20..
27..

41,866
46, 825
49,124
46, 625

13,325
14, 950
16,870
14,406

22, 643
23,899
23,899
23,899

112,956
104,954
107,653
106,763

72,642
76,376
80,617
78,529

70,761
74,912
76,902
76, 781

1,881
1,464
3,715

1,748

68, 774
66,913
66,678
65,674

Sept. 3 . . .
Sept. 10..
Sept. 17..
Sept. 24..

49, 751
51,382
52,146
51.071

16,927 8,925
17,117 10, 366
17,858 10,389
17,036 10, 136

23,899
23,899
23,899
23,899

105,328
101.122
101,553
99,802

79, 790
78,453
77,662
77,641

78,169
77,533
76,962
75,187

1,621
920
700
2,454

66,078
64,838
64,423
63,282

Oct.
Oct.
Oct.
Oct.
Oct.

1__.
8___
15__
22,.
29-.

52,162
47,280
47, 765
50,289
47,183

19,064 9,199
15,834 7,547
16,013 j 7,853
18,161 8,229
16,370 I 6,914

23,899
23,899
23,899
23,899
23,899

98,503
100,810
103,261
98,434
98,565

77,136
75,021
79, 744
75,845
74,833

75,322
73,371
76,756
73, 563
73,312

1,814
1,650
2,988
2,282
1,521

63,249
63,086
63,014
62,152
61,120

Nov.
Nov.
Nov.
Nov.

5...
12..
19..
26..

45,130
48,148
37,304
30,247

13,717
16,246
15,993
14,708

i 7,514
| 8,003
| 7,160
i 6,914

23,899
23,899
14,151
8,625

105,466
103.123
123,612
135,873

76,475
75,923
77,615
79,866

74, 964
74,425
72,919
71,899

1,511
1,498
4,696
7,967

61, 920
64, 795
79,846
83,929

Dec.
Dec.
Dec.
Dec.
Dec.

3...
10..
17..
24..
31..

36,270
41,580
49,431
47,421
48,472

13, 782
13,251
15,205
14,352
11,301

I
I
!
!
|

14,151
19,151
24,418
24,418
26,383

130,266
119,964
114,410
117,621
113,632

74,063
71,606
71,474
73,088
71,351

71,224 2,839
70, 709
897
70,545
929
69, 739 3,349
69,521 1,830

84.373
83,303
83,560
85,928
84,599

18,870
16,448
16,348
15,067

10,300
12,701
13,208
13,006

5,847 i
5,805 i
898
5,
7,976
8,355
8,320

i Includes "other securities.'




8,337
9,178
9,808
8,651
10,788

2,783
2,030
1,898
2,175

91,931
90,283
88, 750
87,450
86, 598
84,644
84,863
83, 658

149

EACH FEDERAL RESERVE BANK
No,

78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
MINNEAPOLIS
[In thousands of dollars]

Date

1930
Jan. 8____
Jan. 15...
Jan. 22...
Jan. 29...
Feb.
Feb.
Feb.
Feb.

5...
12..
19..
26..

Bills bought in United States
securities
open market
Total
Bills
bills
Total
disand
cash resecuri- counted Bought Under Bought Under serves
resale
outties i
outright agree- right agreement
ment

Deposits

Federal
I reserve
notes in
Member bank Other circuladetion
reserve
balances posits

Total

33,047
28,423
30,951
30,012

9,204
4,238
5,613
5,217

7,285
7,414
8,421
8,032

16,438
16, 771
16,917
16, 763

89,550
91,790
90,518
89,404

53,551
51, 530
53,344
51,967

51, 866
50,132
51,942
49,834

I
|
|
|

| 29,412
! 28,852
! 29,936
I 31,034

2,728
2,457
2,997
2,571

9,795
9,594
9,902
11,005

16,889
16,801
17, 037
17,458

88, 561
87,438
87, 257
85, 725

50,065
49,915
51, 561
51, 624

48,895
49,060
49,996
50,396

29,982

53. 624
51,199
51,889
51,483

! 1,170 62,
| 855 61,
i 1,565 CO,
! 1,228 j
59,
1
I
i 5'39 | 60,
! 620 I 59,
| 700 | 59,
! 578 58,

Mar. 5_._
Mar. 12..
Mar. 19..
Mar. 26..

33, 371
33, 923
32, 635

2,583
2,190
2,252
2,211

10,383
13,917
12,925
11,995

17,016
17, 264
18, 746
18,429

89, 747 ! 54,193
83,079
51,819
82, 538
52, 589
82, 689
52, 061

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9...
16..
23..
30..

32, 396
32, 285
32, 542
35,111
30, 773

2,285 11, 633
2,373 11,335
2,474 11,617
4,263 12, 306
3,681 8,615

18,478
18, 577
18,451
18,542
18,477

84, 028
84,211
85,128
82,701
85,730

May
May
May
May

7
14..
21—
28—

29, 796
34,344
33, 703
34,188

4,249
3,953
3,231
3,561

7,160
6,943
7,015
6,648

18, 387
23, 448
23,457
23,979

June 4 . . .
June 11. _
June 18._
June 25._

34,973
35, 621
35,104
35,833

3,622
3,434
3,750
3,946

7,429
6,090
6,240

July 2 . . .
July 9 . . .
July 16..
July 23...
July 30...

37, 298
35, 785
37, 306
35,888

4,629
4,051
4,118
4,251
4,335

Aug. 6__.
Aug. 13.Aug. 20..
Aug. 27...

34,953
36, 551
37,119
37,479

4,423
4,460
4,420
4,338

Sept.
Sept.
Sept.
Sept.

4,082
4,141
4,237
4,039

Oct. 15...
Oct. 22...
Oct. 29...

37,428
37,814
38,106
37, 688
37, 773
36,283
36, 634
36, 257
35,071

4,012
3,941
4,299
4,813
4,148

Nov. 5...
Nov. 12..
Nov. 19..
Nov. 26...

34,852
35,032
35,173
35,379

3,710
3,602
3,843
3,812

Dec. S . Dec. 10. _
Dec. 17...
Dec. 24...
Dec. 31...

36,862
36,909
37,250
37,275
39, 522

3,798
3,880
3,861
4,162
3,576

3...
10..
17..
24..

Oct. 1____.
Oct. 8 — .

J Includes "other securities.'1




1, 685
1, 398
1,402
2,133

67, 283
64,884
64, 038
62, 74?
585
756
874
895
825
696
663
720

49,261 ! 1, 928
50,493 i 1, 549
52,969 !1, 377
52,459 !1,740
51,113 | 1,465

60,511
CO, 108
59, 578
59, 619
59, 616

88,285
54,467
79,215 I 51,152
79,526
51,877
78,933 j 53,003

52.855 I 1,612
50,210 j 942
50,834 j 1,043
50, 664 |2,339

59,152
57, 511
56, 928
55, 283

23,922
25, 289
25, 264
25, 647

79,756 ! 54,520
76, 073
52, 737
78,343
53,207
74,619
52,381

52,740 I 1,780
51,171 1,566
52,560
647
50, 401 1,980

55, 554
54, 748
54,445
53, 360

7,472
6,369
8,056
7,227
6,265

25,146
25, 314
25,081
25, 248
25,215

72, 541
74,023
73,454
71,954
67, 682

50,188
51, 644
52,837
51, 563
48,481

48.856
50,059
51, 659
50, 205
47,095

1,332
1,585
1,178
1,357
1,386

54, 367
53,990
53, 269
51, 676
50,447

5,382
6,065
6,956

25,126
26,004
25,979
26,163

71,487
67, 089
67,117
66, 707

51,012
49, 293
50, 031
50, 222

49, 496
48,222
48,910
48,112

1,516
1,071
1,121
2,110

50,176
49,159
48,890
48, 552

7,400
7,723
7,893
7,684

25,924
25,928
25,954
25,943

71, 635
70, 298
70,245
70,143

51,759 I
51,731
51,479
51,662 I

50,964
50,436
50,947
49,985

! 795
! 1,295
| 532
i 1,677

50, 757
50,958
52,108
51,434

7,615
6,263

26,124
26,057
26, 233
26, 644
26,063

70, 643
74,925
70,056
71,997
72,026 j

51,375
53, 749
52,436
53,054
53,115

49, 504
52, 588
51, 695
51, 648
51, 346

1,871
1,161
741
1,406
1,769

51,137
51,806
51,105
49, 781
48, 695

26,027
25,921
26, 507
26, 716

75, 538
71, 563
71,464
70, 692

56,062
53, 513
52, 582
52,822

54, 595 1,467
782
52, 731
51, 203 1,379
51,306 1,516

48,930
48, 766
48,166
47,823

26,437
26,358
26, 239
26,25.9
27,302

71,111
70,006
72,467
72, 680
68,669

53,113
51,548
52,971
51,965
49,998

51, 690 1,423
50,921
627
52,431
540
49,530 2,436
48,447 1,551

49, 510
49,732
51,353
53, 925
53, 558

4,753
4,788
5,068
5,462
4,776
4,753
6,519
6,563
6,621
8,411

51,189
52, 042
54, 346
54, 205
52, 578

!

150

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE
BANK, BY WEEKS—Continued
KANSAS CITY
[In thousands of dollars]

Date

Bills bought in United States
open market
securities
Total
Bills
bills
and
dissecuri- counted Bought Under Bought Under
ties
out- resale outright agree- right agreement
ment

Deposits

1930
Jan.8
Jan. 15—
Jan. 22—
Jan. 29—
Feb. 5—.
Feb. 12...
Feb. 19...
Feb. 26...

30, 793
27, 699
28, 615

33, 279 3,417
25,811 I 1,919
23,687
949
24,936
616

3,063
3,063
3,063
3,063

138,736
148, 386
148, 907
144, 236

30, 076
29, 377
22,086
31, 542

26, 552
26, 043
18,932
21, 009

461
271
91
7,470

3,063
3,063
3,063
3,063

Mar.
Mar.
Mar.
Mar.

5—.
12...
19...
26...

33, 515
28,101
30, 957
27, 759

20, 743 9,709
14, 722 10, 316
13,274 11, 760
9,136

Apr. 2....
Apr. 9-...
Apr. 16...
Apr. 23-_.
Apr. 30...

27, 716
29, 496
30, 306
31,982
32, 726

12,322
12, 308
11, 880
13,178
15, 099

May 7....
May 14...
May 21—
May 28—

31, 392
42,821
40, 685
38, 720

June 4
June 1 1 —
June 18._.
June 25—.

1,431
1,369
1,854
1,976

87,675
85, 257
83,776
81,492

140, 686
141,117
147, 054
138, 409

90, 375
91, 655
92, 569
89,058
85,428
92,075
86, 661
88,445

84,141 1,287
84,923 7,152
85,175 1,486
86,874 1,571

81,932
80,840
79, 664
78,844

3,063
3,063
5,923
5,925

132,998
143,031
140,826
141,133

84, 091
89, 667
88,416
87, 802

83, 677
89,286
87,891
86,994

414
381
525

80,383
78,823
79,286
77,609

9,470
11, 264
12, 502
12,880
11, 703

5,924
5,924
5,924
5,924
5,924

142, 361
140, 309
137, 642
140,139
134,192

88,153
88, 556
90, 534
89, 386
89,097

85, 577
87,007
89,141
87, 786
87,285

2,576
1,549
1,393
1,600
1,812

77,864
77, 626
76, 301
75, 605
74, 203

13,825
14,718
15,606
16,134

i 11,143
! 11,678
! 8,754
| 6,261

5,924
15, 925
15, 925
15, 925

134,474
123, 735
125, 853
123,109

86, 267
89, 520
87,823
84, 990

1,730 !
1,274 |
1,761
2,056 i

74, 664
73, 040
72, 580
71,139

38, 377
39,860
36, 558
45,488

15,279
15,771
13,488
12,591

! 6,049
I 5,353
| 4,334
4,161

!
16,749 !
18,736
18,736 '
28,736 !

127, 675
122, 725
131, 243
117, 071

July 2
July 9
July 16.. .
July 23.. .
July 30...

45, 932
44, 609
44, 723
44,059
43, 750

11, 577
11,178
10,085
9,755
9,441

5,619
4,695
5,902
5,568
5,573

28,736
28,736
28,736
28,736
28,736

114,780
119,965
118, 741
120,824
121, 572

87,997
90, 794
89, 584
87, 046
89,977
87, 521
93, 021
90, 291
88,342
91,166
91, 295
92,696
92,437

87,170
89, 265
90,094
91, 555
90,969

1,172
1,901
1,201
1,141
1,468

70,153
70, 767
69, 578
69, 235
68,432

Aug. 6
Aug. 13—
Aug. 20—
Aug. 27—

43,829
46,106
47, 328
47,609

9,370
9,115
8,963
8,800

5,723
8,255
9,629
10,073

28, 736
28, 736
28. 736
28, 736

123,837
118, 356
118, 276
114, 679

90,900
92,819
89, 978

88,394
944
88, 265 2,635
88, 747 4,072
87,113 2,865

69,840
69,445
69, 296
68,566

Sept.
Sept.
Sept.
Sept.

3—.
10—
17—
24...

47, 734
49, 406
50,573
49, 905

8,703
8,510
8,835
9,004

10, 295
12,160
13, 002
12,165

28, 736
28, 736
28, 736
28, 736

120, 676
112, 665
110,373
111, 020

89, 843
88,857
89, 780

93,126
87, 444
87, 731
87, 230

2,063
2,399
1,126
2,550

69, 347
68, 022
67, 517

1
8
15_ _.
22. _.
29...

47, 770
46, 679
47,450
47,017
48, 085

8,803
9,214
10,130
10,835
12,054

10, 231
8,729
8,584
7,446
7,295

28, 736
28, 736
28,736
28,736
28, 736

!
!
!
!
|

112,422
114,194
114, 551
110,497
107,892

89, 543
89,013
92,045
88,649
87, 990

87, 745
87,064
90, 492
87, 668
86,440

1,798
1,949
1,553
981
1,550

67,989
67, 377
66, 372
64,656

Nov. 5 — .
Nov. 1 2 —
Nov. 19—
Nov. 26—

50, 593
52, 224
51, 386
52,990

13, 541
14,159
12,832
14,819

8,316
9,329
8,912
8,189

28,736 !
28, 736 |
29,642 i
29,982

109,972
106, 425
108, 776
102,933

87, 260
86, 111
89,066
85, 493

86, 561
85,036 1,075
87, 258 1,808
84, 344 1,149

65,617
66,120
68,711
66,430

Dec. 3

54, 222
54, 634
54,199
54, 224
59, 624

16,372 8,208
15,980 9,319
14, 720 10,142
15, 380 9,507
15, 042 12, 971

29,642
29, 335
29,337
29, 337
31,611

102,915
102, 320
106,921
104,408
99, 571

85, 598
84, 624
87, 912
87,877
89, 529

84,702
84, 339
285
360
87,552
85,482 2,395
87, 705 1,824

67, 765
68,414
69,036
70,887
68,424

Oct.
Oct.
Oct.
Oct.
Oct.

Dec.
Dec.
Dec.
Dec.

10...
17. _.
24-.31.--

39,759




500
500
400
400

j
!
I
!
j

88,944
90, 286
90,715
87, 082

Federal
reserve
notes in
circulation

88,376 I 1,601 | 72, 262
86, 039 ! 1, 482 71,464
|
92,724 i 297 1 70,364
87,920 j 2,371 I 69, 244

151

EACH FEDERAL RESERVE BANK
No.

78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued
DALLAS
[In thousands of dollars]
Bills bo ught in United States
open rnarket
secu]-ities
Total
_
bills
Bills
Total
and
discash resecuri- counted Bought Under Bought Under serves
resale outresale
ties
outright agree- right agreement
ment

Date

Jan.
Jan.
Jan.
Jan.

1930
8
15
22
29

50,079
48, 634

Deposits

Total

8,849
9, 843
10, 967
10, 254

37
211
330
3S8

25,
25,
25,
25,

023
635
635
635

68,194
64, 264
66, 467
64,879

67,
64,
66,
67,

463
802
684
742

64,995
63,470
63, 837
64, 564

2,468
1,332
2, 847
3,178

44,904
42, 301
41, 023
39,170

095
244
980
482

63, 568 3,527
63,116 1,128
63, 631
349
63,134 2, 348

40, 351
40, 367
47, 670
40,670

48, 605

16,170
12, 945
11, 407
12, 328

Feb.
Feb.
Feb.
Feb.

5
12.._.
19 ...
26 —

50,
49,
50,
47,

11, 896
11,097
15, 265
11, 068

12,425
12, 843
13, 632
15, 646

303
295
337
252

25,
25,
20,
20,

635
635
795
635

63,146
60, 804
69, 876
64, 896

67,
64,
63,
65,

Mar.
Mar.
Mar.
Mar.

5
12 _
19 . .
26—

45, 832
11,105
42, 860 i 9,634
37,274
5,892
5,579
39,759

13, 749
12, 489
10, 585
8, 341

318
102
162
202

20,
20,
20,
25,

660
635
635
637

67, 373
65, 009
71,910
70, 419

67, 442
63.955
62; 684
68, 956

Apr.
Apr.
Apr.
Apr.
Apr.

2
9
16....
23,,..
30

40, 075
40, 941
41, 334
41,136
40, 217

6, 579
7,190
7, 780
7, 551
8,190

7, 744
8,061
7,739
7. 784
6, 189

115
53
178
164
231

25,
25,
25,
25,
25,

637
637
637
637
637

65,
66,
64,
66,
62,

May 7
May 14____
May 2 1 —
May 28
June 4
June 11
June 18
June 25.

40, 555
39, 825
41,711
40, 040

9,192
7,776
8,809
8 596

5,486
6,314
7,209
5, 807

195
98
56

25, 682
25, 637
25,637
25 637

40,814
42, 278
41, 397
41,050

9, 643
10, 358
9.896
9,986

4,
3,
3,
2,

792
750
331
894

July 2.
Julv9
July 16
Julv 23 .
July 30

42, 742
43,087
44, 467
45, 785
45, 492

10, 073
10,549
11,007
] 2. 224
12, 815

Aug. 6
Aug. 13.—
Aug. 2 0 —
Aug. 27

45, 689
48, 948
49,788
50, 230

Sept. 3
Sept. 10._..
Sept, 17 .
Sept. 24....
Oct.
Oct.
Oct.
Oct.
Oct.

1
8
15
22_._.
29

Nov.
Nov.
Nov.
Nov.

5
12... _
19_-__
20

44,
44,
44,
44,

Dec.
Dec.
Dec.
Dec.
Dec.

3
10
17
24
31

. . 48, 339
259
870
029
601

Federal
reserve
notes in
Mern
ber bank Other circuladereserve posits tion
balances

39, 623
37, 559
36, 706
35,325

1,949
4,311
3,601
3,026
1,278

34,873
34, 4S3
33,357
33,432
32, 409

63,618
61, 477
62, 733
61, 633

64,
62,
65,
63,

62, 015
61, 520
63,300
61, 232

2,283
1, 424
1, 789
1,814

32, 413
31, 338
31, 503
30,460

26, 379
28,170
28,170
28,170

65,189
58, 683
60, 343
61,967

62, 290
61,454
59,575
63, 679

60,190 2,100
59, 291 2,163
59, 342
233
59, 571 4,108

32,190
32,036
31,933
31, 398

4,499
4, 368
5 290
5, 391
4, 507

28,170
28,170
28 170
28,170
28,170

59, 647
58, 787
56, 140
55, 283
53,611

61,540
62,118
61, 390
61,154
59, 352

59,815
60,158
60, 622
59, 362
57, 345

1, 725
1,960
768
],792
2,007

32, 374
32, 491
31, 534
31, 557
30,455

13, 253
14,098
13,985
14,267

4,266
5, 621
6, 574
6,734

28,170
29. 229
29, 229
29, 229

53, 58!
51, 551
53,683
53, 689

59,
60,
60,
60,

102
281
070
836

57, 678
58, 530
58, 795
58, 470

50, 864
52, 066
51,035
50, 320

14, 406
13,968
12, 786
11,961

7,229
8.869
9,020
9,130

29,
29,
29,
29,

229
229
229
229

53, 900
52, 802
54. 887
01,503

62, 053
61,420
61, 528
67, 528

59, 334
59, 834
61, 043
61, 703

], 424
1,751
1, 275
2, 366
2. 719
1, 586
485
5, 825

32, 069
31,959
33, 276
33, 336
34, 584
34, 863
34,633
34, 839

48, 403
47,191
47,577
45, 610
44, 744

1

454
302
242
611

63,156
65, 807
64, 938
66, 203
62,987

63, 653
62, 442
68, 345
61, 207
61,496
61, 337
63,177
61, 709

10, 633
10,316
10, 579
9. 984
9, 449

8,541
7, 646
7,769
6, 395
6, 065

29,
29,
29,
29,
29,

229
229
229
231
230

56.531
58, 559
60,617
60, 264
58,217

61,013
61,685
65, 223
62, 510
61,650

59,359
58, 843
63,662
59, 373
59, 293

1, 654
2, 842
1,561
3,137
2,357

34,901
35, 499
34, 550
34,039
32, 732

868
806
297
528

8, 991
8,450
7,949
8,286

6, 648
7,127
5,960
6,107

29,
29,
30,
30

229
229
388
135

60, 225
59. 535
.59, 133
5S,109

60,777
62, 980
60, 881
61,042

57, 364
59, 021
57, 855
58, 820

3,413
3, 959
3,026
2,222

33, 517
33,097
32, 565
31, 955

43,984
44, 327
44, 387
43, 440
14, 233

7, 535
7,347
6, 586
6,688
4, 342

6, 561
7,321
8,139
7,090
8, 575

29,888
29, 659
29 662
29, 662
31.316

60, 371
54,834
57, 293
57. 228
53, 528

62, 085
57, 858
60, 226
59, 710
58, 498

59, 073 3,612
359
57, 499
280
59,940
57. 641 2, 069
57, 533
965

32,610
32, 286
32,154
33,411
31,901

33454—31-

i

-11




:::::::

------

765
253
727
040
322

298
944
089
046

152

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE

BANK, BY WEEKS—Continued

SAN FRANCISCO
[In thousands of dollars]

| Bills bought in United States
securities
i open market
I Total
Total
Bills
I bills
cash redis! and
I securi- counted Bought Under Bought Under serves
resale outoutI ties
right agree-|
right
ment [
ment

Date

Deposits

1930
80,899 : 35,698
Jan.8
Jan. 15—. I 59,841 ! 15,935
Jan. 2 2 J . . . 70,562 : 20,574
Jan. 29___. i 64,423 I 18,889

25, 986
30,093
33,335
31, 915

7,389
1,997
4,837
1,803

11,816
11,816
11, 816
11,816

308,974
314,725
309,439
305, 781

Feb.
Feb.
Feb.
Feb.

5 — . | 67,620 ii 20,772
12.. 54,504 ii 10, 004
19... 58,503 i| 12, 927
26... 70,538 !| 17,194

32,001 3,031
29, 806 2.878
32, 734
981
34, 674 6,809

11,816
11,816
11,861
11,861

300,605
319,982
307,576
292,441

165, 746
168,413
161,949
160.159

Mar.
Mar.
Mar.
Mar.

5-..
12...
19...
26-

77, 931
77, 584
79, 057
72,100

24, 298 ! 39,189 2,583
17,389 I 34,209 1,750
8,294 | 29,834 4,193
8, 379 25, 023 2,003

11,861
24, 236
36, 736
36, 695

279, 389
282,723
264, 541
279, 384

161,901
158, 261
155, 707
153,455

Apr.
Apr.
Apr.
Apr.
Apr.

2...
9.-..
16...
23..
30—.

| 86,853
77,177
| 78.306
i 83,987
I 83,. 700

20, 959
11, 228
10, 583
12,910
17,178

25, 655
27, 612
29, 979
31,028
27, 298

3,544
1,642
1,049
3,354
2,529

36, 695
36, 695
36, 695
36, 695
36, 695

270, 740
287,331
280, 259
276,038
263, 570

May 7 . - . | 71,547 10, 974
May 14. _ j 68,429 8,449
8,751
May 2 1 - ; 70,713
May 2 8 - ! 77,894 11,331

22,321
23,285
22,656
21,667

| 1,557
!
; 2.611
I 8,201

36, 695
36, 695
36, 695
36, 695

290,483
290,970
284,960
272, 333

- 68,064 | 8,888 19,590 ] 2,S?.l
i
-| 65,943 ! 8,518 17,775 ! 2.955
- 70,634 12,15f 16,506 I 5.274
i
-! 61,498 8,328 15,505 j 970

36,695
36, 695
36, 695
36, 695

292,297
294, 727
279, 226
293,170

185,153
185, 320
178,036
180, 399

14, 639
12,897
15, 814
15, 523
13, 929

36, 695
36.695
36, 695
36, 695
36, 695

296, 703
313,611
298,245
295, 836
289, 764

182,104
189,100
182,442
178.723
177,947

36, 695
39,009
39, 009
39,009

June 4
June 11_June 18—
June 25..
July
July
July
July
July

2...
9...
16..
23..
30..

Aug.
Aug.
Aug.
Aug.

6-...
1320...
27-

| 69,153 17, 819
57,984
8,392
60,446
7,937
60, 624 8,406
9,817
60,441

157,192
157,935
157,186
154,407
153, 637

9,689
9,018
10,977
12,224
10,290
175,437 112, 754
175, 848 |l0, 703
172, 537 i10, 289
167, 033 ! 9,807

154, 787
152, 927
152, 657
153,191

175, 810 9, 343
176, 381 8, 939
169,939 ! 8,097
169.734 110, 665
172,298 j 9,806
177,493 11,607
173,279 I 9,163
168,508 !lO,215
166,230 |11, 717

155,975
156, 316.
155, 245
155, 018

170,681
171,218
176,564
179,626

i 9,219
I 9,079
I 9,560
j 9,620

159,081
157,138
157, 779
158,023

170,441
183,586
180,608
169,374

I 9,673
i 8,810
1 9,944
110, 303

163, 034
162, 340
158,063
|
154,194
j

173,853
178,887
173,099
174,433
170,290

10,511
9,857
10,244
110,315
11,431

I 155,085
157, 583
157,045
\ 152,042
149,954

166.160
165,345
160, 371
158,162
153, 342

8,659
7,770
7,628
7,518

12,038 1,022
13,928 1,354
16, 873
17,294 I

Sept. 3...
Sept. 10..
Sept. 17..
Sept. 24..

58, 414
62,061
63, 510
63, 821
66, 767
64, 844
65,465
69, 443

7,925
7,221
6,624
6,216

17, 932 1,901 39, 009
18, 614
39, 009
19,832
i 39,009
21,193 ~3,~625~ I 39,009

298,613 179, 900
294,369 180,297
299,366 186.124
304,485 189, 246
296,027 180.114
192,396
300,243 190, 552
282, 389 179, 677

Oct.
Oct.
Oct.
Oct.
Oct.

1...
8...
15..
22..
29..

70,112 j!
63,
68, 601
71, 574
66, 370

5,672
5,280
5,327
6,974
6,474

20, 795 4,636 39,009
19, 699
• 39,009
21,005 ~3~260" i 39,009
22,342 3,249 i 39,009
I 39,009
20, 887

289,122
301,100
289, 949
285,220
286,146

184, 364
188, 744
183,343
184,748
181,721

Nov.
Nov.
Nov.
Nov.

5...
12..
19..
26..

75,006
74, 652
74,843
77,366 |

7,165
6,137
5,980
7,765

24,759 i
26, 552
24, 425
25, 578 ;

4,073
2,954
3,987
3,032

39, 009
39,009
40,451
40,991

287, 737
298, 777
298,824
287, 228

26, 620
27, 614
27, 716
25,474
26,154

4,345
5,537
5,176
4,860
4,869

40,451
39,962
39,964
39,964 !
51,082 !

186,710 177,084 ! 9,626
197, 216 186,922 10,294
201.724 189,575 12,149
190,594 183, 442 i 7,152
198, 229 189,057 9,172
196,330 188, 657 7,673
194.125 186, 275 7,850
193. 689 184, 505 9,184
191, 426 182, 583 j 8,843

Dec. S.Dec. 1 0 —
Dec. 1 7 Dec. 24._
Dec. 3 1 -

85, 356 13. 940
79,107
5,994
120,805 47, 949
124, 448 54,150
97, 588 15,483




i 287,615
295,921
266,408
273, 220
298, 747

156, 607
156,489
152,309
154,477
155, 505
157, 376
175,057
188, 704
185,839'

VOLUME OF OPERATIONS OF EACH FEDERAL RESERVE BANK
No.

79.-—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS OF EACH FEDERAL RESERVE BANK,

1930

Federal reserve bank
Total
Boston

New York

Philadelphia

Cleveland i

Richmond

Kansas
City

Minneapolis

Chicago I St. Louis

Atlanta

Dallas

San Francisco

N U M B E R OF P I E C E S H A N D L E D : 1930
Bills discounted:
2,158
7,156!
4,883j
4,872
3,729i
99,420
5,5471
14,714
13,444;
8,796
14,002
10, 0191
10,100
Applications. _
21,944i
11,096
38,541;
15,821
415,268
20,906'
33,731
Notes discounted
51,235
29, 742;
38,8471
45, 279|
63,285
44,8411
Bills purchased in open mar4,372
4,427j
7,226;
20S, 485
5,260;
27,500
22,6131
4,4
17,728J
96,173!
1,452
8,660
ket for own account
8,585j
Currency
received
and
2,441,989,000 258,983, OOO! 730,751,000 211,091,000 156,626, OOO! 122,353,000 125,991,000 409,291, OOO1II8,675,000 44,356, 000 66, 564,000J62, 353,000; 134,955,000
counted
Coin received and counted.. 3, 325, 555,000355,855,000; 1,520,441,000 334,963,000 153,040,000ll69, 649,000 70,846,000 323,631,000 125,866,000 19,622,000 66,618,000|49,585,000 135,439,000
904,975,000 93,658,000! 187,951,000! 73,392,000 87,508,000! 54,109,000 31,496,000|128, 039. 000 49,465, 000 23,448,000 69,881,000138,848,000i 67,180,000
Checks handled.Collection items handled:
U. S. Government cou19,362, 000 1,275,000
5,310,000; 1,487,000! 2,861,000
568,000
pons paid
412,000! 3,299,000! 1,104,000!
534,000 l,064,000|
312,000 1,136,000
6,388,000
394, OOOJ
2,531,000!
364,000*
271,000
"0;
570,OOO!
" " ' """'
""' " "
Allother
166,000j
753,000|
337,000
246,000
317,000!
139,000
300,000
U. S. securities, issues, re34, 000
87,000
318,000
78,000;
35,000
51,000
75,000|
1,417,000
515, OOo!
30, OOOi
35,000
98,000^
demptions, and exchanges-|
61,000
63,000
134,000
115,000
149,000
133, 000
328,000;
1,868,000
412,000^
126,000!
127,000i
139, OOO!
85,000!
Transfers of funds
57, OOO!

I

' j

;

;

>
O

I

§

l

i

A M O U N T S H A N D L E D : 1930 (in millions of dollars)
Bills discounted
Bills purchased in open market for own account
_.
Currency
received
and
counted
Coin received and counted..
Checks handled—
Collection items handled:
U. S. Government coupons paid
Allother.
U. S. securities, issues, redemptions, and exchangesTransfers of funds. _ _

1,366.71

1,205. 5|

516.0

1,171. 3|

921.41

88.3|

290.6|

174.0

1,109. 6

151.9!

95.3!

124.3

359.3!

93.9!

66.2!

72.7;

83.9

446.8

1,130.2i
47.4
30,426.9

901.81
15. 5j
26,768.91

587.11
15.7!
12,795. Oi

564.1
12.8
10,428.1

2,262. 7;
35. 5i
30,271.3

504.5
13.1
14,409.7

226.3
5.0
4,169. 3

314.5
12.3!
10,430.4;

274.8
7.6
7,769.6

912.2
74.9
15,322.0

28.11
475.8j

56.1 !
509.0:

10.5;
231.1!

5.9
147.4

60.41
1,183.6|

16. 5'
291.9;

9.3!
130.9 j

17.1
257.9

5.7
69.6

23.9
363.3

352.5
12,430. Oj

262. 3i
10, 730. 3!

124.9|
6,725. lj

148.9
2,562.5

1,025.11
35,038.6i

180.3
6,773.4

80.5
2,346. 7

142.6
7,486.3

171.9
5,866.4|

311.3
25,282.7

927.4

14,067.1!

582.5

5,713.8

3,873.71

326.4

2,024.5|

28. 5l

14,262.8
537.51
324,883.0!

1,635.4j
36.2!
19,925.9!

4,949.2;
261.51
142,165.9!

499.1!
7, 528.0

31.8!
905. 2|

233.81
2,862.3

7,245.21

279.3J
10,118.4!

1

4,165.6
73,520. 5!

I

Back figures.—See Annual Reports for 1929 (Table 73), 1928 (Table 77), 1927 (Table 60), and 1924-1926 (Part II, Table 6),




2

154
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
80.—VOLUME OF OPERATIONS OF BRANCHES OF FEDERAL RESERVE BANKS
Noncash collection items
handled

Currency
Federal reserve branch | Bills dis- received
and district number
counted
and
counted

Coin
received
and
counted

Checks
handled

Govern-!
ment } All
coupons other

Fiscal
agency
issues,
redemp- Transfers
tions, of funds
and exchanges
| of U.S.
securities

N U M B E R OF PIECES H A N D L E D 1930
No.
No.
No.
No.

No.
No.
No.
No.
No.
No.

2—Buffalo
4—Cincinnati
Pittsburgh
5—Baltimore
Charlotte
6—Birmingham.._
Jacksonville
Nashville
New Orleans-_
7—Detroit
8—Little Rock....
Louisville
Memphis
9—Helena
10—Denver
Oklahoma City
Omaha
11—El Paso
Houston
San Antonio._.
12—Los Angeles
Portland
Salt Lake City.
Seattle
Spokane
Total .

3,156 47,422,000| 33,585,000 13, 857, 000
33,935, 0001 49, 880,000 20,420,0001
54,548, 000J 44, 590,000 31,784,000!
;
7,531 55,300,000!132,747,000 20,201,000
14,160,000 7, 496,000 6, 206,000;
11, 327,000 7, 827, 000 5,014,000
19,618,000 13, 755,000 5, 968,000;
15,746, 000 5, 283,000 6, 210,000
14, 208 29,596,000 25,441,000 4,191, 000
7,565 85,025, 000 98,091,000 24, 750,000;
3,321 9,372, 000 6,676,000 4,600, OOOl
2,362 23,394,000 20, 830,000 9, 874,000S
5,270 21, 549,000 12,099,000 3, 263, OOOi
2,342 1, 551, 000! 1,566,000 2, 287,000:
3,661 8, 589, 000 8, 280,000 9.113,000
9,451,000i 8, 755,000 17; 701,000
7, 261 9,151,000! 5, 724,000 12, 566,000
870
5,077, 000 3, 246,000 3,181, OOOi
1,4691
2,352|
1, 472!
3,1
3,922
666
4,517

12, 506,000
12, 513,000i
67, 674, 000J
6, 214, 000;
4,378,000
12, 434, 000
2,434, 000

15,900,000 6,903,000
7,937,000 5, 794,000|
36, 318,000 24, 588,000i
9,521,000 8,128,000!
3,146,000 7, 626,000i
11, 873, 000 6,711,000|
924, 000 4, 364,0001

58,064i
842,000
524,000
309,445
21, 648
18,634
51, 820
43, 723S
129, 432i
321,183i
32, 976!
206, 606|
48,2751
46,407.;
206,425j

45, 2821
180,281 i
24, 215!
65,791!
34, 687!
285,0571
154, 877!
76,412!
131,878!
69,407

75, 025 572, 964, 000'571, 490, 000 265, 300, 000:3, 929, 000; 1,181,

24, 400
20, 238
25, 755
32, 719
25,496
7,037
10,022
7,668
16,532
50, 391
13,400
15,618
15,128
8,994
19,061
8,603
25,972
8,807
25, 546
14,180
35, 630
15,095
19, 383
16, 925
8,603
471, 000

AMOUNTS H A N D L E D : 1930 (in thousands of dollars)
I

No.
No.
No.
No.

No.
No.
No.
No.
No.
No.

2—Buffalo
4—Cincinnati..
Pittsburgh
|
5—Baltimore
j
Charlotte
j
6—Birmingham...
Jacksonville j
Nashville
]
New Orleans-.{
7—Detroit
8—Little Rock
Louisville.
Memphis
9—Helena
10—Denver
Oklahoma City I
Omaha
11—El Paso
J
Houston
..
San Antonio...'
12—Los Angeles I
Portland
!
Salt Lake City.i
Seattle
I
Spokane
Total

271, 798
312, 566

233,8471
524,373;
199,370|
272, 621
181,800;
4,033
47, 558

52,491
19,425
19,409
25,077
40,539
62,324
39,093
102,294
20,437

261,902!
156,873!
358,887|
284, 774!
59, 712
51,792i
98, 577|
67,621!
110,183:
545,680:
36,400|
114, 595|
76, 982!
13, 394]
51,913!
41, 309
51,022
27,868
53, 702!
53,713
329, 225
46,170
35, 375j
96,010
20, 001

2,429,055 3,043,680

3,272
5,837
4,564
10, 684
1,093
934
1,878
759
3,189
8,209
710
1,684
1,992
612
2,181
1,408
2, 548
1,235
1,571
1,571
14,582
M29
6,421
363

3, 043, 278
3, 675,008
14,113,995
4,042,967
1,304,127
1, 501,165
1,815,212
1, 561,681
2,022,850
7, 259, 577
995, 569!
2,823,182
1, 081,057
377,888
2,007,180
2,064,489
1, 711, 937
490, 671
1, 613, 072
1,022,696
4, 010,198
1,445, 260
1, 355, 551
549,450

0, 624 62,834,956

Back figures.—See Annual Reports for 1929 (Table 74), 1928 (Table 78), 1927 (Table 61), 1926 (Table 67),
1925 (Table 69), 1924 (Table 72), 1923 (Table 72), 1922 (Table 74), 1921 (p. 80), 1920 (p. 93), 1919 (p. 39).
NOTE.—Currency received and counted during 1930 by agencies of the Federal Reserve Bank of Atlanta;:
Habana, Cuba, 5,518,000 pieces, amount $52,608,000; Savannah, Ga., 3,215,000 pieces, amount $10,428,000.
Coin received and counted by Habana, Cuba, 320,000 pieces, amount $3,615,000; Savannah, Ga., 801,000
pieces, amount $155,000.




ANNUAL BEPORT OF THE FEDEKAL RESERVE BOARD

155

GOLD SETTLEMENT FUND
NO. 8 1 .

SUMMAKT OF TRANSACTIONS THROUGH THE FUND, BY DISTRICTS, 1 9 3 0
[In millions of dollars]
Daily settlements between Federal reserve banks

Federal reserve
bank

Balance
Jan. 1

Federal reserve note
clearings

Transit clearings

Interreserve
bank transfers
Balance
fund
With- Depos- in close
at
drawof busiits
als
ness
Dec. 31

Payments

Receipts

80.4
33.6
77.3 202.9
78.5 51.3

203.5
462.4
170. 3

58.6
775.8
40.9

50.0
813.3
52.2

134. 6
225.5
62.9

18.7
135.4
61.4

48.8
41.0
47.3

129.5
156.0
59.0

55.0
13.4
34.2

66.6
75.1
187.8

60.1
78.3
238.2

36.2
18.2
10.8

92.4
38.7
23.8

174.5
38.5
16.0

230.9
76.2
33.8

434.1
69.2
15.0

336.9
135.1
63.0

49.7
18.7
10.1

32.1
25.0
32.5

20.0
47.5
53.0

74.2
21.6
115. 6

10.0
34.1
256.5

87.9
69.3
478.2

21.6

511.2 151, 458. 3 151, 458. 3 I 669. 4 669.4 1, 530. 2 1,530. 2 2, 063. 8 1, 970. 0

417.4

Pay-

Re; Receipts Pay- ceipts

4.4 12,557.7 12,699.2
154.8 50, 367. 5 ! 50,496.8
25. 2 13,622.5 13,804.5

Boston
New York
Philadelphia
Cleveland..
Richmond Atlanta

71.0
8.1
5.6

11,880.6 !'' 11, 976. 6
7,945.3 8, 095.0
4,199. 0 4,172.5

Chicago
St. Louis
Minneapolis.

86.5
21.0
18.1

20,840.3 20,842.4 90. 5
7,080.1 : 6, 979. 4 43. 8
2,404.0 | 22.2
2,479.4

Kansas City
Dallas
San Francisco

52.0
15.8
48.8

Total

6.4
4, 649.1
9, 930. 4

5, 729. 2
4, 626. 5
9, 632. 1

41.2
41.2

37.4
17.9
40.2

9.7

27.1

Back figures—See Annual Reports for 1929 (Table 75), 1928 (Table 19), 1927 (Table 66), etc.

FEDERAL RESERVE AGENTS' GOLD FUND
No. 82.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, BY DISTRICTS,

1930

[In millions of dollars]

i Balance
Jan. 1

Federal reserve bank

Boston
New York . . .
Philadelphia
Cleveland
Richmond
Atlanta
.
Chicago
St. Louis
Minneapolis
Kansas City _ .
Dallas
San Francisco

_ . -.
. .

.
-_

Total

i
'
i
1

'
>
i

189 6
S. 6
96 4
120 0
60.0
119 4
269 6
77 0
52 0
70 0
23.5
176.8
1. 262 9

Balance
Transfers Transfers at close of
from
to bank
business
bank
Dec. 31

Withdrawals

0.5
.5

115.0
78.6
26.3
20.0
47.0
181.5
196.6
85.1
30.5
18.0
47.2
256.0 |
1,101. 7 j

40.0
95.0
51.2
65. 0
65.0
184.5
70.0
(8. 9
15.0
10.0
33.3
2c0.0
947. 8 I

Back figures—See Annual Report for 1929 (Table 76), 1928 (Table 20), 1927 (Table 68), etc.




114.6
25.0
121.3
165.0
78.0
122.4
143.0
00.8
36.5
62.0
10.1
170.8
1,109. 4

158

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

MEMBERSHIP IN PAR COLLECTION SYSTEM
No. 83.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, BY DISTRICTS

Member
banks

End of month (1930)

Nonmember
Nonmember
banksi
banksi
MemMember
ber
banks On par Not on
On par Not on banks On par Not on
list
par list
list i par list
list
par list
Nonmember
banks*

N e w York district

Boston district
January
February
March

I
!

April

Mav
June
July
August

Sppt.fvm bpr

October
November
December
!
January
February
March
April.
May
June
July
August
September
October
November
December...

.

.

]
:

.

403
403
403 i
1
402
402
401
400
398
398
397
397
396

928
927
929
929
925
923
923
921
920
919
917
914

270
271 1
269 !
270 ;
270
270 1
268 1
267 i
266 !
267 !
263
260
i

Cleveland di strict

i
1
i
i
i

795
794
794
794
794
781
782
780

__J
;

770
757

779
776

990
988
981
977
972
963
951
948
945
943
939
936

'

;
:'
i
•
:
i
'

:

3,173 i 3.458
1,167 3,435
i 1.153 3,413
1.151
1. 145

May

June
July
August.
September.
October
November
December

1,135
1.125

.

1,122
1.116

1 l. i n

1, 099
1,081

3,379
3,354
3.331
3,313
3,297
3,269
3,254
3,243
3,200

230
230
229
22n
231
236
236
237
237
238
239
238

Kansas City district
Januarv
February
March
April
May
June

July

J
. . .

August.

Rp.ptfiTnbpr
October
November

December _

...

1

-

892
893
892
891
892
890

886
886
S80
878
874
871

2,080
2,062 j
2,054
2,037
2,031
2,021
2.011
1,996 ';
1,975
1, 955
1,942
1,917

512
509
508
501
494
486
484
485
485
484
481
470

571
568
563
561
561
561
560
554
551
546
542
523

533
527
516
503
504
502
501
499
497
496
480
441

St. Louis dis trict

Chicago district
January...
February
March..
April

761
761
758
758
757
756
755
756
755
754
754
753

405
404
403
404
402
400
401
401
400
401
402
395

R i c h m o n d district
9
9
9
9
9
9
9
9
9
9
9
9

199
199
197
191

18.".

183
182
184
184
187
189
191

5t>9
565
560
554
553
552
548
547
548
548
528
513

1.645
1, 632
1.613
1.600
1, 584
1, 571
1, 563
1, 543
1, 537
1,523
1,443
1, 404

602
596
596
594
592
590
589
587
583
583
578
572

474
471
471
472
468
467
463
461
461
458
455
451

Atlanta district
425
421
419
417
414
409
408
408
408
408
404
390

250
249
235
230
228
218
216
211
208
206
196
186

917
905
903
902
899
§91
S86
893
893
386
881
862

Minn eapolis d istrict

480
480
485
480
480
480
48.1
483
481
483
445
417

682
678
670
668
666
664
661
658
656
656
653
642

566
558
549
549
544
542
530
526
522
514
507
497

1, 088
1,091
1,076
1,060
1,059
1,053
1,055
1.053
1,051
1.035
1,014
1.007

San Francisco district

Dallas district
740
726
722
721
721
719
719
718
716
708
698
684

Philadelphia d istrict

210
210
214
214
213
215
214
214
214
213
215
211

606
603
599
595
596 •
599
593
592
591
589
584
581

632
630
629
630
629
625
620
621
621
619
619
615

62
61
60
60
60
60
60
59
60
60
61

Incorporated banks other than mutual savings banks.
Back figures.—See Annual Reports for 1929 (Table 77), 1928 (Table 81), 1927 (Table 71), 1926 (Table 84),
1925 (Table 65), 1924 (Table 71), 1923 (Table 71). 1922 (Table 73), 1921 (Table 71), 1920 (Table 63), 1919 (Table
55), and 1918 (Table 48).




157

EACH FEDERAL RESERVE BANK

No. 84.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST IN EACH STATE
ON DECEMBER 31, 1929 AND 1930
1929

State

New England:
Maine..
New Hampshire..
Vermont
Massachusetts
Rhode Island..Connecticut.
Middle Atlantic:
New Y o r k . . .
_
New Jersey
_
Pennsylvania
East North Central:
Ohio
Indiana
Illinois
Michigan...
Wisconsin
West North Central:
Minnesota
Iowa
Missouri
North Dakota
South Dakota
Nebraska
Kansas
South Atlantic:
Delaware
Maryland
District of Columbia
Virginia
West Virginia
North Carolina-South Carolina
Georgia
Florida..East South Central:
Kentucky
Tennessee
Alabama
Mississippi
West South Central:
Arkansas
Louisiana
Oklahoma
Texas
Mountain:
Montana
Idaho
Wyoming
Colorado
New Mexico
Arizona
Utah
Nevada
Pacific:
Washington
Oregon
California
Total

i Member
banks

_

',
i
|
i
1
i
i
i
I
—.;
;
!
i
I
;

55
57
46
177
14
67
666
364
948

1930

Nonmember banks |
Nonmember banks
1 Member
banks
On par ! Not on |
Not on
list
I par list 1 |
par list 1

I

54
57
45
173
14
65

42
15
43
79
10
92

!
I
I

654
358
923

263
166
555

i

370
211
495
262
166

584
654
1,073
543
534

25
1
233

265
254
179
107
97
170
249

199
883
896
28
90
433
761

543
97
55
190
141
167
3

104
9!
294 i
139
265 !
106

20
78
12
166
126
61
40
102
57

34
150
29
177
144
37
13
26
38

97
10
224
110
248
99

132
99
106
32

357
119
16
11

27
227
180
217

270
635

96
23
298
533

127
161
11
136

78
56
29
119
29
15
38
10

73
79
50
141
24
23
61
25

25
1
4
6
1
3

47
16;
45 !

!
.I
. . . j

10 |

!

78 !

J

97 ;
268 L —
171 |
591 \

388
234
544
273
172

617
730
1,198
575
556

1
5
27
2
235

276
291
187
122
101
160
252

226
977
1,035
38
117
491
815

552 I

|
I
•
\

20
85
12
172
131
72
55
115
61

34
154
31
192
157
53
17
38
60

j
;
1
j

145
104
119
38

394 i
156
20
15 |

23
232 !
205 !
259

|
I
j
!
j
j
I
{
I
i
I
!
\
i
i
!
|

94
42
294
689

154

165 !
164 j

324 !
570

88
60
28
123
29
17
42
10

53
149
26
26

146
120
217

154
91
208

40
21

140
118
208

149
85
202

40
20

I

8, 522 I

12,045

3,754

8,052

10,956

3,437

J
i
-

!
I
I
j
|
\
\
:
I
j
!

J

_

87
49
255
166
177

!
i
|
!
;
i
!
i

1 i
;

I
L
!
!
i

20 [

I
|

5 I
131 !
19
1
5
1
3

25

73 ,

35 I

^Incorporated banks other than Mutual Savings banks. Backfigures—SeeAnnual Reports for 1928
Table 82), 1926 (Table 65), and 1924 (Table 70).




158

ANNUAL REPORT OP THE FEDERAL RESERVE BOARD

EARNINGS AND EXPENSES OF EACH RESERVE BANK
No. 85.—GROSS AND N E T EARNINGS OF EACH FEDERAL RESERVE BANK ;
DISPOSITION MADE OF N E T EARNINGS, 1914-1930
Disposition of net earnings

Earnings
Federal reserve bank
Gross
All Federal reserve banks:
1914-15
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
Total
Boston:
1914-15
1916
1917
1918
1919
1920
1921
1922
1923
1924
. _ -.
1925
1926
.
1927
1928
•
1929
1930
Total
New York:
1914-15
1916
1917
1918.
1919
1920 _
1921
1922
1923
1924
1925
1926
1927
1928.
1929
1930
TotaL
Philadelphia:
1914-15
. .
1916
1917
1918
1919
1920
1921
1922
1923
1924 _
1925
1926
1927
19281929
1930
Total

Digitized for i See note on p. 161.
FRASER


AND

Net

Dividends
paid

Transferred to
surplus 1

Franchise Profit ( + )
tax paid to or loss (—)
U. S. Gov- carried
forward
ernment i

-$358,922
+1,008,224
+509,413
$1,134, 234 $1,134, 234
-1,158,715
48,334,341
2, 703,894
70, 651, 778
82,916,014 60,724, 742
15,993,086 59,974,466
-659, 904 10,850,605
2, 545, 513 3,613,056
113,646
-3,077,962
59,300
2,473,808
818,150
8,464,426
249, 591
5,044,119
2, 584,659
21,078,899
4,283, 231
22,535, 597
17,308
- 2 , 297, 724
941,052,065 523, 204,165 100, 941, 058 275,136, 225 147,126, 882
$217,463
-$141,459
$2,173,252
2, 750, 998 1, 742,774
5, 217,998
9, 579, 607 6,801,726
16,128,339
67,584,417 52, 716, 310 5, 540, 684
102,380, 583 78, 367, 504 5, 011,832
181, 296, 711 149,294, 774 5, 654, 018
122,865,866 82,087, 225 6,119, 673
50,498,699 16,497,736 6,307,035
50, 708, 566 12, 711, 286 6, 552, 717
3, 718,180 6,682,496
38,340,449
9,449, 066 6, 915,958
41,800, 706
47,599, 595 16, 611, 745 7, 329,169
43,024,484 13, 048, 249 7, 754, 539
64,052,860 32,122,021 8,458,463
70, 955,496 36,402,741 9, 583,913
36, 424, 044 7, 988,182 10,268, 598

-34,603
125, 459
295,935
490, 888
740, 359
1, 285,884
3, 305,180
4, 475,195
7, 497, 583 5, 777, 381
12, 273, 253 10, 272, 564
6, 968, 662 4,281,353
3, 541, 313 1,097,402
3, 506, 683 1, 252,135
2, 559, 016
470, 422
3, 288, 546 1,140, 581
3, 319, 077 1,156, 873
2, 975, 357
837, 612
4,465, 342
2,316,522
5,160, 831
2, 766,134
2, 368, 086
253, 777
64, 301,175 35, 929, 627
-123,887
345,035
414, 064
971, 026
3, 078,481
4,929, 214
25, 314, 736 21, 662, 917
35, 332, 412 27,959, 619
60, 525, 321 53,128,130
34, 710, 274 26, 093, 832
11, 349, 279 3, 721, 593
11,413,183
3, 043, 679
8, 569, 350
616, 852
10, 217,174
3,103, 298
10, 600,968
3, 749, 748
10, 647, 759 3, 720, 601
18,483,042 11,018,433
19,314, 279 12, 263, 224
4, 588, 384
10, 393,189
273,116, 241 178, 038, 968
113,972
—31,517
249, 941
448,180
753, 875
1, 095, 540
2, 972,089
4,357, 740
6, 659,169
8, 609,880
9,065,116
11,848, 551
8, 008, 095 5, 339, 454
4, 251, 950 2, 236, 876
4, 592, 771 2,177,837
747, 092
2,915, 846
1, 078,120
3,135, 550
3, 626, 648 1, 533, 733
1,176, 469
3,363, 626
3,282,641
5,394, 546
6,076,048
3,801,988
1,102, 771
2, 996, 243
70, 835,186 42,145, 654

249, 735
75,100
601, 756
2,921,000
384,180
5, 362, 934
414. 447
7, 351,799
447, 266
473,109
772, 324
-170,782
481,951
77,187
480, 267
-7,376
477, 798
637,933
502, 648
585,888
525, 023
287,166
550, 446
1, 725,692
590,830
2,132, 022
634,112
-452,172
705, 949
7, 519, 517 21, 298, 715

75,100
2, 473,499
3,035,920
786,233
694, 681
45,962

7, 111, 395

197 113

, 942, 819
t, 195, 026
L, 291, 047
L, 477, 096
,608,721
, 652,138
, 749, 239
. 796. 530
1,888,196
2,100.191
2,327, 355
2, 743, 725
3, 544, 314
4, 013, 779
29, 457, 289

649, 363
649, 363
20,467, 891
2, 703,894
23,964, 678
12, 332, 523 39,318, 511
3, 782,671 20, 702,440
3,467,058
-1,397,603
1,164,996
129,444
-1,179,678
1, 215,102
1, 649, 557
1,393, 246
8,274, 708
8, 718, 910
574, 605
80, 575,417 68,006, 262

128,458
623,603
583,983
2, 608, 344
462, 380
6,196, 789
496, 679
8, 204, 775
517,663
935,239
541, 552
803, 594
582. 292
1,178, 588
615,135
131,957
404,908
673, 212
730, 598
803,135
394,929
781, 540
2,438,886
843,755
2,863,676
938, 312
1, 002, 602
100,169
9, 521, 764 27, 064, 989

-34,603
+46,200
— 11,597

-123,887
+286, 951
-163,064

-31,517
+121,483
+130,272
-220,238
363, 662
3,886, 552
891, 730
416,957

5, 558, 901

159

EACH FEDERAL RESERVE BANK

No. 85.—GROSS AND N E T EARNINGS OF EACH FEDERAL RESERVE BANK, AND
DISPOSITION MADE OF N E T EARNINGS, 1914-1930—Continued
Disposition of net earnings

Earnings

Federal reserve bank

Gross

Cleveland:
1914-15..
1916
1917.....
1918
1919....
1920
1921
1922
1923
1924
1925

$113,815
-$55, 774
293, 808
452,129 |
753, 682
1,367,216 |
5,226,864 j 4,135, 796
7,800,829 ! 6,093, 785
14,458,619 | 11,820,031
9,390,863 • 6, 284, 383
4, 994, 282 I 2, 268, 688
921, 221
4,655,090 I
3,770,689
-473,153
4,013,456
1, 210, 576
4,517,884 ! 1, 660, 762
4,197,836 ! 1,108,190
6,250,553 j 3,180,715

1927..
1928..
1929..
1930..

3, 585, 202 |

Total-

319, 580
334,102
821,195
2, 979,048
4, 775, 324
6, 902, 643
6, 729, 679
2,832, 944
2,878, 896
2, 210, 240
2,182,460
2,429,017
2, 086,303
2,857,648
3, 299, 609
1, 641, 390

I 45,280,078
236,460
279, 520
589, 789
2, 293,058
4,416, 001
7,476,431
7,406,652
2, 352, 736
2, 682, 314
1, 907,121
2,072, 378
3, 045, 867
2,067,839
3, 578,156
4,116,049
1, 963, 724

Total
Chicago:
1914-15..
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
Total. _

3, 705,442
783, 777

81,781,907 ! 43,691.929

Richmond:
1914-15..
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926.....
1927
1928
1929
1930

Total
Atlanta:
1914-15..
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

Net

174, 955
186, 571
462, 224
2, 312, 030
3, 877, 266
5, 238, 506
4, 393,627
867,448
1, 092,843
379, 791
576,110
727, 645
497, 711
1,118,960
1, 342,225
-28, 797
23,219,115
82, 532
129, 307
288, 083
1, 652,473
3, 382, 397
6,010, 324
5,496, 219
672, 730
352,179
272, 656
26,191
1, 228, 327
669,904
1,693,985
1,428,518
323, 307

Dividends
paid

$143, 237
716,168
716,107 $3,552,000
556, 785
5, 537,000
604,194 11,215,837
660, 228
2, 329,442
692,436
861, 264
725, 626
195, 595
756,152 - 1 , 229, 305
778,811
431, 765
808, 505
852, 257
832, 583
275, 607
856,843
2,323,872
910,007
2, 795, 435
952,934
-169,157
10, 710, 616

forward

-$55, 774
+150, 571
+37, 514
-132,311
$3, 294, 713
714, 988

4,009, 701

4, 905, 337

12,113, 589

6,200,189

40,000
1,470,000
3,185,000
3, 648, 465
770,106
-172,018
8, 756

40,000

201, 719
218, 203
182,473
197, 397
225, 571
245, 862
256,618 '
264, 622
272, 656
276,488
296, 573
305,817
312,259
321, 696
323, 307
3,901,261
361, 319
862,259
604, 635
700, 807
792, 769
853, 785
876, 203
904,371
909,123
934,016
985, 959
1, 029, 990
1,099,761
1,170, 363
1,211,418

134,478,670 | 77,455.283

ernment

116,472
2,079, 598
3, 624, 394
4, 740,869
693, 792
32, 954
384,404
28, 540
217, 948
279, 216
125,481
74,828
97,362
-382,269

268, 885
20,091
665, 937
403, 206
2, 083,164
1, 231, 879
8,481, 747
6, 805, 081
12, 012.078
8, 576, 204
30, 303, 218 25,875, 749
20,382,170 14, 505,117
6, 748,863
1,405,215
6,511,359
1,178, 355
5, 202,169
909,123
5,424,663 ] 1,121, 273
6,567,043 ! 2, 253, 923
6,167, 352 ! 1,927,645
8,936,418 | 4, 763,429
9,889,451 ! 5,424,665
4,834,153 ! 1, 054,328

1
on p . 161.
See note


28, 971, 612

Franchise Profit (+)
tax paid to or loss (—)
U. S. Govcarried
l

151, 940
197, 922
240, 944
232,432
252, 872
293,052
322, 203
333, 321
342, 295
351, 251
358,162
363, 957
372, 230
370,683
368, 601
353,472

46,484,095 j 23,709,132

!

Transferred to
surplus l

13, 296, 778

116,472

+23,015
-11,351
-11,664

204, 585
3, 377, 632
501,173
366,144
84,472
673,449
876,262

+82, 532

-250, 297
931, 754
364,087
558,425
303,032

-72,412
-10,120

2,136, 288
4,480,251
588,130
78,801

823,301
803,790 i

10, 857, 310

8, 950, 561

215, 799
6, 200,446
7, 875,397
14, 688, 500
2,075, 323
-657, 289
27, 398

215, 799

187, 257
1, 267, 964
897, 655
3,663,668
3, 651,464
-157,090
39, 936, 492

10, 394,480
11,576,009
1,186, 301
246, 586

602,838
24, 222,013

+20,091
+41,887
-61,978

160

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 85.—GROSS AND N E T EARNINGS OF EACH FEDERAL RESERVE BANK, AND
DISPOSITION MADE OF N E T EARNINGS, 1914-1930—Continued
Earnings

Disposition of net earnings

Federal reserve bank
Gross

1924
1925
1926
1927
1928
1929
1930

Transferred to
surplus i

Franchise Profit (+)
tax paid to or loss (—)
U. S. Govcarried
ernment i
forward

$86,833
297,948
773,106
2,676,828

-$97,169
+109,917
+217,590
-230,338

-$97,169
141,017
502,156
1,777,810

$31,100
284,566 '
;
404,838
$1,603,310 !

3,884,478
7,180,117
5,166,315
1 2,456,447
-.-.! 2,753,435

2,355,154 l
4,875,566
2, 951, 926
647, 572
1,182,163

234,660 i
253,711 i
270,253 !
283,166 I
296,810

2,120,494 i
4,621,855 I
1,042,564 I $1,639,109 i
276,450 I
87,956 i
407,070 !
478,283 i

1, 688,143
! 2, 055, 637
.! 2,511,509
! 2,228,079
l
2,901,925
—3,247,936
1, 745, 685

203,937
-93,540
683,022
775,681 :'
785,159
885,884
1,114

304,976
306,753
314,420 !
317,727
321,855 !
319,231 !
315,839 j

-101,039
-400,293 i
368,602 i
457,954
423,011
56,665 :
-314,725 !

i
i
-.

„
_
„

Total

;

! 41,654,421

Minneapolis:
1914-15
1916
1917
1918....
1919..
1920
1921.
1922..
1923_.

Dividends
paid

]

St. Louis:
1914-15-.1916
1917
1918.
1919
1920
1921.
1922
1923...-

Net

17,577,452

4, 259, 905 j 10,561,918!

40,293 j .
509,988 U
2,755,629

i

-32,341 .
100,112
134,603
255,177 !
394, 353
672,799
, 2,049,954 ; 1,545,847

_

2,333,943
4,131,053
3, 151,154
782, G95
325, 455

3,007,041
i 5,307,381
4,966,311
1,969,248
1,749,253

57,720
363,895
168,103 |

37,500

211,657 !
213,774
212,733

195,871 I

37,500 I
1,377,744 j
2,153,757 •
3,410,948 j
488,530 i
4,469 !
11,272

524,234 !
2,450,967 i
564,452
101,450 '

202,828
193,560
187,609
180,726
181,203 l
184,030
184,445

12,628
4,139 i
26,043 i
11,535 !
43,350 !
61,073
914

113,646 j
37,255
234,381
103,816 I
390,151
549,659
8,230 i

180,186 |

1924..
1925..
1926..
1927..
1928..
1929..
1930..

1,609,070
1,438,341
1,622,333
1,390,031
1, 710,304
1,926,031
1,235,082

Total .
Kansas City:

31,008,468

15,677,983

1914-15....
1916
1917
1918

102,474
380,208
1, 002,660
3,451,936

-66,776
224,989
566,404
2,437,748

66,707 L.
364,503 |
309,729 ! 2,421,426

1919..
1920..
1921..
1922..
1923..

4,961,482 ;
7,409,987 :
5,712,858
3,094,660
2,993,919

3, 923,362
5,540, 681
3, 056,096
783, 036
347,711

3,694,607
228,755
3,042,781
257,672
486,918
268,620 !
275,655 i -157,432
275,313 j
7,240

2,262,910
2,309,985
2,677,340
2,304,938
2,597,968
2,976,576 •

-253,182
282,921
756, 469
414,726
659, 760
1,013, 586
-200,976

265,697 I -518,879
258,426
2,450
252,764
50,370
252,753 I
16,198
253,254 j
40,651
256,549
75,704
259, 397
-460,373

1925
1926.
1927.
1928..
1929..
1930..
Total
1

_.|

329,102
234,954
448,033
296,077 |
614,704 j
794,762 1
193,589 |

lr~ """

I 45,907,568

See note on p. 161.




!

19,486,555

-32,341
+76,883
-44,542

2,918,340 j

3,845,794

7,643,902

8, 701, 661

5,115,741
-66,776
+158,282
+201,901
-293,407
2,240,228
2,300, 558
664,813
65,158
22,045 ;
453,335 !
145,775
365,855
681,333
6,939,100 j

161

EACH FEDERAL RESERVE BANK

No. 85.—GROSS AND N E T EARNINGS OF EACH FEDERAL RESERVE BANK, AND
DISPOSITION MADE OP N E T EARNINGS, 1914-1930—Continued
Disposition of net earnings
Federal reserve bank

Transferred to
l

surplus
Dallas:
1914-15
1916
1917
1918

$75, 388
166,046
352,067
1,240,175

$65,523
134,008
188,234
261,503

i 3,002,251
4, 904,522
4,239,574
2,085, 775
% 356,436

2,041,864
3,228,231
1,613,564
354,125
332,282

196,335
225,424
252,211
251,915
251,429

1,845,529
3,002,807
1,361,353
102, 210
80,853

249,789
255,239
257,502
256, 310
258,544
266,613
262,510

15,235
22,896
599,709
311,899
163,301
244,417
1,009

2,157,964
1,813,626
2,127,049
1,741,922
2,119,666
2,496,030
1.585,113
Total

! 33,972,462

San Francisco:
1914-15
1916
1917
1918
1919
1920
1921
1922
1823
1924
1925
1926

Total

ernment

+$9,865
+32,038
+163,833
-205,736

$244,666
326,372
621,970
. _ 2,089,526
.;

1919

Franchise
tax paid to
U. S. Govl

-52,358
111,511
456, 044
2, 809,164

43,736
394, 776
497,675 I

2,448,174

; 7,021,224
' 12,706,668
9,184,413
1 4,821,202
i 4, 615, 227

5,387,360
10,108,823
4, 920,500
1, 660,356
505T 426

296,161
384,713
435,361 i
448,306
467, 720

5,091,199
6, 654,855
1, 254,824
-185,721
37,706

3,487,931
; 3,848,890
4,554,860

250, 516
490,447
1, 555,
1, 055, 424
1,974,258
2, 205,922
-355, 689

480,561
490,447
506, 068
547, 062
625,75]
670,085
682,946

:
_

_

115,961
316, 511
885,802
4,187,785

3,069,255
3,230,315 .
1,397,771 I

i 72,231,794

3 Amounts shown as transferred to surplus account for 1922 are net, i. e., after the deduction of amounts
charged to surplus account on Dec. 31, 1922, and paid to the United States Government as franchise tax.
For prior years as follows: For 1920—New York, $270,389; for 1921—Boston, $247,350; New York, $1,334,160;
Philadelphia, $36,366; Richmond, $20,459; Atlanta, $213,629; Chicago, $710,190; Minneapolis, $52t423;
Kansas City, $208,170; San Francisco, $30Gf926; total, $3,129,673.




No. 86.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS DURING

1930

O

EARNINGS
New York i Philadel-1 Clevephia ! land

Total

to
Richmond

I Atlanta | Chicago

St.
Louis

Minneapolis

Kansas
City

Dallas

San Francisco
j

Discounted bills
Purchased bills
United States securities
Deficient reserve penalties
Miscellaneous
Total earnings

[$10, 672, 215} $595,987 $1, 910, 378!$1, 217, 736i$l, 303,852 $877,181 f$l, 087, 248,'$1, 222,081: $660, 996
j 6,081,187 i 438,264 1,917,937! 155,563 i 538,682 281,883; 417,294\ 629,854; 285,169
2, 503, 592i
753, 034
17,273,3311! 1,201,549 5,895,425! 1,521,8251 1,505,428 408, 503 315,
35, 290j
28,235
24,139
27,066
11,401 i 28,690
17,431
j
225,748||
9,054
45, 588
443, 336 j
642,383
89,718 208, 550
119, 054
29, 055
_. 2,171,563 ! 123,232

$172,441! $624, 945
228,551!
204,411
747,4841
530,153
7,644
11, 383
78, 962
296,775

$441, 337 $558,033
229,821
753,758
873,178 1, 017,171
7,571
17,844
71,977
22,933

j 36,424,044ij 2,368,086 10,393,189 2,996, 243 i 3,585,202 1, 641, 390! 1, 963, 724 4,834,153; 1, 745, 685 1,235,082 1,667,667 1,585,113 2,408,510

!

. ._ I ! . .....

a
>

g

I
CURRENT EXPENSES

o
Salaries:
Bank officers
Clerical staff
Special officers and watchmen
Allother.__
Governors' conferences
Federal reserve agents' conferences
Federal Advisory Council
Directors' meetings
Traveling expenses !
.
Assessments for Federal Reserve Board's
expenses.
___
Legal fees
Insurance (other than currency and security shipments)
Insurance on currency and security shipments
Taxes on banking house
Light, heat, and power
Repairs and alterations, banking house. _
Rent
Office and other supplies
Printing and stationery
Telephone
_
Telegraph...
Postage
Kxpressage
Miscellaneous expenses

$2,679,838|
11,746,849}
921, 424!
1,906,063
2,427
2, 880!
12, 583,1
155, 502;
198, 373;

$116,250
$545, 649j $136, 333 $222, 300
904, 394 3, 225, 557 j 903,199 1, 020, 380
170,84
36, 812
116, 171
ITA a An50,943
94,662
505, 399'
269, 352j
85, 767
69
541
109
90
65'
36!
119
6301
780
568
678
7,331
7.734
6, 887!
15,077
18,772
7,5411
13, 901 [
31,520

81, 282
4,768

4-17

426,6331

29, 6741

(if), 370

34, 249

33, 674

33,409
731
23,862

594, 102
1,374, 36811
338, 6221
176,880;
242,132
391,148
426,186
210,223i
499, 392;
1,747,151;
475, 409j
733,725;:

74,0441
126, 420!
21,756
4,211
447
20,084
36,4281
20, 0021
6, 373!
193, 098
44,0551
47, 200

122, 940
407, 865
75,119
41, 060

81,820
40,484
18, 758
18,726
1,144
34,897
28, 208
27, 7791
13, 520
162, 846
63,667
55,117!

60,714
140, 763
35, 067
13, 038
92, 648
35,845
35,873
14, 371
35,104
152,846
36,'
51,502

31,042
65, 394
14, 013
1,622
13,559
18,132
23, 217
7,537
33,130!
111,615
35, 356!
32, 585'

809, 585!
95,701;

00, 570
3, 09'

Total, exclusive of cost of currency.; 26,167,196J 1,855,608




78,901
3,319

$186,529 $237,239 $320,490 $170,659 $122,0671 $193,000 $175,356 $253, 966
748 1,634, 841 j
542, 017
602,170
522, 497
338,939
642, 428
991,681
132,699!
45, 842
48,502
65, 666
47, 794
34, 673i
73, 594
97,881
273,346!
35, "
82, 579
61, 568|
167, 432
99,738
86, 790
143,914
360
609;
341
43
442
89 i
136
3151
317j
163
70
1,006
115J
462
1 374i
1,298)
1, 3001
683
1,800
1, 228]
1, 300
6, 529'
29, 3381
8,133
659
11,6371
13, 061
9,956
16,596
12,920:
10, 3481
12,989
18,666,
16, 507
18,180
14, 353

264, 862
5,411

101, 707
81, 432
60,269:
52,807
306, 628 i
105,447;
197,023

*^

A U

^

f*O

A

O A t \

398i
222|

108, 972!
15, 220l

26,0l3i

44,663!

46, 241!
62, 3281
16,7
12,044
5,351
20, 275
28, 55:
8,015
73,700 i
93,9981
39,591|
38, 367j

64,654
166, 941
31, 944
12,059

45,228
67, 093
20, 013
41,049
231,868'
58,546
83, 541

ZA<~i

f\1

T

OOO

flOA

n A C% AC%a

24,137
10,734

30,7211

43,082

26, 780

40, 348

13, 916
69, 399
17, 202!
6,155;

18, 262
97, 888
40, 062
28, 256

17, 5381
19,447
5,166
18, 032
64,933
12, 230
29, 342

24, 597
21, 499
8,457
59,124
133,703
18, 667
49, 216

23, 392
39,070
21,029
9,860
1,500
16, 720
21,905
9,612
52, 544
86, 763
23, 234
44,418

40, 071
91, 681
26,112
20,238
115,098
38, 367
40, 698
15,410
71, 018
124,192
22, 574
71,683

18,504
18,432!

27,197
17, 0061
66,135J
20, 792
9,611
12, 385
17, 758
21,829

3,384,902 1,292,809;
6,383,78e| 1,861,172; 2,479,2681 1,421,225; 1,292,312113.

Af\*7

24,405
13,130

29, 230
903

13, 592
42, 991
84, 661
15, 554
33, 731

r nf»

55, 915
11,734

919,937 1,698,290 1,270,109 2,307,778

w

F
GC

W
O
w

Federal reserve currency, including shipping charges:
Original cost
...
_,.._.,._..
Cost of redemption

2,039,726
135,804

210,793
11, 391

j 28,342,726 i 2,077,792

Total current expenses

411,313
31,465

167,540
12,915

159,401
10, 828

140, 280:
7, 5291

71, 057
9,513

404,177
16,038

9, 941 i
6,186;

-I—

6,826, 564 2,041,627 2,649,497 1,569,034 j 1,372,882 3, 805,117 1,398,936!

52, 685
4,245

80, 828!
5,491!

66,591
4,4531

175,120
15,750

976,867 1,784,609! 1,341,153 2,498,648

I
PROFIT AND LOSS ACCOUNT
Earnings
Current expenses

$36,424, 044 $2, 368,086 $10, 393,189 $2, 996, 243 $3,585,202 $1, 641, 390 $1, 963,724 $4 ,834,153 $1,745,685 $1, 235,082 $1, 667,667 $1,585,113 $2,408,510
28,342,726 2, 077, 792 6,826,564 2,041, 627 2, 649,497 1, 569, 034 1, 372, 882 3, 805,117 1, 398, 936
976,867 1, 784, 609 1, 341,153 2,498,648

Current net earnings

8, 081, 318

Additions to current net earnings:
Withdrawn from reserve for probable losses
Profit on United States securities
sold
Allother,-

290, 294

3, 566, 625

954, 616

935, 705

72, 356

590, 842 1, 029, 036

346, 749

258, 215 —116,942

243,960

—90,138

>

402,060

200,000

159,000

36,900

6,160

2, 849,567
222, 790

180,927
6,196

1, 532,178
115,316

191,736
952

378,163
333

•59, 218
2,598

35, 993
1,992

255,952
5,658

57, 523
6,695

68,139
66,067

85, 439
8,893

97, 921
3,555

106, 378
4,535

3,474,417

187,123

1,647,494

192,688

378, 496

61, 816

37,985

298, 510

64,218

293, 206

94, 332

101,476

117, 073

1, 905, 689
541, 385
409, 865
552, 264
158, 350

122,048
9,130

389,688
128,923

31,752

274,387
42,317

129,151
27, 781

233,681
38, 980

91,982
14,548

168,188
5,271

46, 562
25, 592

188,841
186, 309

101,055
6,069

12, 781

188, 959
24, 761

175,332
18 848
214*875

92,462

6,037

85, 829
11, 934
194,990
12, 250
517

557

798

256,666
1,302

4,907

685

7,474

._

3, 567, 553

223, 640

625,735

44, 533

530, 424

162, 969

305, 520

273, 218

409, 853

357, 832

178, 366

72,839

382,624

Net deductions from current net earnings.

93,136

36, 517 2 1, 021,759

2 148,155

151, 928

101,153

267, 535

2 25, 292

345,635

64,626

84,034

28,637

265,551

Net earnings available for dividends, surplus, and franchise tax

7, 988,182

253, 777

4, 588, 384 1,102, 771

783, 777

—28, 797

323, 307 1, 054, 328

1,114

193, 589 —200, 976

272, 597 —355, 689

Dividends paid
10 268 598
Transferred to surplus account
—2 297 724
Franchise tax paid United States Government
17, 308

705, 949
452,172

952, 934
353, 472
4, 013, 779 1, 002, 602
100,169 —169,157 —382, 269
574, 605

323, 307 1,211,418
315,839
—157,090 —314, 725

259, 397
184, 445
914 —460, 373

o
W

682,946
262,510
1,009 —1,038,635

Total additions
Deductions from current net earnings:
Bank premises—depreciation
Furniture and equipment
Reserve for probable losses
Reserve for self-insurance _
Allother
Total deductions

8,230

2

9,078

REIMBURSABLE EXPENDITURES OF FISCAL AGENCY DEPARTMENT
Salaries
Allother.

.

Total-. .

$123,309
37,777

$7,052
1,790

$14, 274
5,884

$9,805
1,978

$15,945
2,097

$5, 023
2,878

$5, 280
1,962

$6, 665
8,875

$10, 354
2,163

$14, 572
3,482

$17, 666
1,789

$8, 034
1,551

$8, 639
3,328

161, 086

8,842

20,158

11, 783

18,042

7,901

7,242

15, 540

12, 517

18, 054

19,455

9,585

11,967

i Other than those connected with governors' and agents' conferences and of the advisory council.
2 Net addition.
Back figures—See Annual Reports for 1929 (Table 80), 1928 (Table 84), 1927 (Table 75), 1926 (Table 68), and 1925 (Table 67 and Pt. II, Table 5).




0
CO

164

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

CONDITION OF ALL BANKS IN EACH DISTRICT
No.

87.—ALL BANKS—TOTAL LOANS AND INVESTMENTS, 1923-1930
[In millions of dollars]
All
banks

Date i

Member
banks

Non- j
mern- ' All
ber
banks
banks i

Boston district
4,948
4,989
5,139
5,285
5,523
5,705
5,891
5,940
6,199
6,367
6,644
6,649
6,818
6,782
6,862

1923—June 30....
Dec. 3 1 . . .
1924—June 30...
Dec. 3 1 —
1925—June 30...
Dec. 31-_.
1926—June 30...
Dec. 31..-.
1927—June 30...
Dec. 3U...
1928—June 30...
Dec. 31...
1929—June 29—
Dec. 3 1 . . .
1930—June 30. .

2,032
2,017
2,052
2,134
2,234
2,362
2,409
2,428
2,536
2,583
2,642
2,571
2,613
2,561
2,592

New York district

2,916 !
2,972 i
3,087
3,151
3,289 !
3,343 i
3,482 i
3,512 !
3,663 !
3,784 I
4,002 I
4,078 |
4,205
4,221
4,270

Cleveland district

12, 235
7,497 ! 4, 738
12,280
7,494 4,786
13,187
8,071 : 5,116
14,023
8,667 ! 5,356
14,398
8,746 ' 5,652
14,925 ' 9,297 i 5,628
15,364
9,308 j 6,056
15,728
9,667 j 6,061
16,693 10,126 ; 6,567
17,502 10,947 i 6,555
18,202 11,098 I 7,104
18. 776 11,593 | 7,183
i 11,775 i 7,122
19,494 ! 12,316 7,178
19, 718 ' 12,385 ! 7,333

2,200
2,224
2,237
2,273
2,333
2,392
2,401
2,395
2,423
2,517 |i
2,531 1
1
2,522 |
2,501 j|
2,435 j
2,398 ||

Chicago district
6,174
6,190
6,324
6,562
6,834

1923—June 3 0 Dec. 3 1 1924—June 30.
Dec. 31..
1925—June 30.
Dec. 3 1 1926—June 30.
Dec. 31..
1927—June 30.
Dec. 3 1 1928—June 30.
Dec. 31..
1929—June 29..
Dec. 31.
1930—June 30-

7,186
7,174
7,407
7,495
7,826
7,904
7,958
7,740
7,655

-

I 1,847

735
729
699
702
708
716
691
692
678
677
669
679
640
630

1,883 ;
1,907
1,878
1,937:
1,984 >
2,067
2,086
2,059
2,096 i
2,128 !
2,141 !
2,163 i
2,099
2,072
2,013

1,018
1,020
1,044
1,053
1,081
1,102
1,120
1,120
1,112
1,155
1,187
1,183
1,172
1,157
1,194

1,155
1,182
1,157
1,223
1,228
1,310
1,320
1,313
1,337
1,377
1,384
1,406
1,341
1,337
1,289

745
810
732
789
791
831
808
807
831
898
916
993
957
936
870

1,963 I
1,969
2,031 i
2,163
2,249
2,337
2,420 !
2,478 :
2,531
2,588 i
2,656
2,666 I
2,710 i
2,687 !
2,713 !

3,195
3,224
3,334
3,506
3,652
3,811
3,920
4,034
4,115
4,241
4,365
4,395
4,460
4,395
4,420

1,232
1,255
1,303
1,343
1,403
1,474
1,500
1,556
1,584
1, 653
1,709
1,730
1,750
1, 708
1,706

1,410 !
1,490 I
1,454 j
1,531 I
1,696 !
1,994
1,849
1,787 i
1,720 |
1,754 '
1, 753
1,749 I
1,734 I
1, 629 i
1,528 !

920 i

978 '
934 i
995 !
1,081
1,242
1,172 '•
1,158
1,141 :
1.165
1,173
1,188
1,177 i
1,115 !
1,059 I

490
512
520
536
615
752
677
629
585
589
579
560
558
514
469

Minneapolis district
728
725
721
714
756
757
766
746
759
752
756
757
757
736
724

1,665 ii
1,604 : '<
1,487
1,564
1,571 :
1,567
1,549 !;
1,495 \'
i,485 j ;
1,527
1,549 ;
1,555 !
1,539 !
1,507 |
1,455 !

896 I
824 i
907
881 !i
862
851
897 '
.
909
933 !
923 i
911 ;
870

769
741
663
357
583
674
668
633
634
630
640
622
616
597
585

San Francisco district

Dallas district
953
1,016
962
1,016
1,015
1,069
1,044
1,029
1,064
1,136
1,163
1,247
1,217
1,179
1,105

Nonmember
banks

Atlanta district

iis disirict

2,268
2,291
2,314
2,352
2,464
2,520
2,607
2,631
2,695
2, 636
2,709
2,741
2,906
2,806
2,721

Kansas City district
1923—June 30—.
Dec. 31..
1924—June 30.
Dec. 31.
1925—June 30.
Dec. 3 1 1926—June 30
Dec. 31
1927—June 30
Dec. 31
1928—June 30.
Dec. 31
1929—June 29.
Dec. 31
1930—June 30

1,182
1,204
1,193
1,220
1,252
1,290
1,281
1,275
1,311
1,362
1,344
1,338
1,329
1,278
1,204

Member
banks

Philadelphia district

Richmond district

2,735 ! 1,163
2,725 1,185
3,910
1,223
2,827
4,050
1,243
2,915
4,158
3,021 ! 1,289
4,310
3,045 1,313
4,358
1,326
3,161
4,487
1,348
3,133
4,481
3,267 1,368
| 4,635
1,393
3,296
—I 4,"""
4,898 i 3,448 1,450
1,440
4,854 ! 3,414
4,927 ! 3,488 ; 1,439
4,869
3,455 1,414
4,840
3,479 1,361

1923—June 30
Dec. 31
1924—June 30
Dec. 31
1925—June 3 0 . .
Dec. 31
1926—June 30
Dec. 31.
1927—June 30
Dec. 31
1928—June 30.
Dec. 3 1 1929—June 29..
Dec. 3 1 .
1930—June 30.

Non
Mem- J mem- - All
bar
ber
banks banks banks

208
206
230
227
224
238
236
222
233
238
248
254
260
243
235

3,296
3,342
3,389
3,546
3,693
3,872
3,937
4,068
4,077
4,227
4,300
4,523
4,443
4,472
4,375

2,331
i 2,248
2,296
2,444
2,545 |
2,669
2,688
| 2,842
j 2,961
| 3,084
! 3,149
3,169
3,105
! 3,192
3,109

965
1,094
1,093
1,102
1,148
1,203
1,249
1,226
1,116
1,143
1,151
1,354
1,338
1,279
1, 265

Figures for nonmember banks are from reports of nearest available date.
NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust
companies,
mutual and stock savings banks, and private banks under State supervision.



165

ALL BANKS IN EACH DISTRICT
No.

88.—ALL BANKS—TOTAL LOANS,

1923-1930

[Iii millions of dollars]

Date i

All
banks

Member
banks

Nonmember
banks

3,064
3,115
3,220
3,333
3,530
3,682
3,779
3,817
3,930
4,021
4,226
4,271
4,434
4,508
4,440

1923—June 30..
Dec. 31..
1924—June 30..
Dec. 3 L .
1925—June 30..
Dec. 3 1 . .
1926—June 30..
Dec. 3 L .
1927—June 30..
Dec. 31..
1928—June 30..
Dec. 3 1 . .
1929—June 29..
Dec. 31 .
1930—June 30.

2,594 i
2,621 |
2,680 |
2,722 !
2,874 :

1923—June 30..
Dec. 31..
1924—June 30..
Dec. 3 1 . .
1925—June 30..
Dec. 3 1 . .
1926—June 30..
Dec. 3 1 . .
1927—June 30..
Dec. 3 1 . .
1928—June 30..
Dec. 3 1 . .
1929—June 29..
Dec. 3 1 .
1930—June 30.

4,764
4,798
4,876
4,935
5,173
5,319
5,452
5,497
5,575
5,583
5,810
5,933
6,046
5,953
5,764

1923—June 30..
Dec. 3 1 1924—June 30..
Dec. 3 1 1925—June 30..
Dec. 31..
1926—June 30..
Dec. 31..
1927—Juno 30..
Dec. 31..
1928—June 30..
Dec. 31..
1929—June 29..
Dec. 31 .
1930—June 30.

1,547
1,496
1,423
1,421
1,429
1,432
1,418
1,374
1,355
1,353
1,336
1,332
1,310
1,293
1,209

1,444
1,440
1,443
1,504
1,602
1,692
1,690
1,708
1,744
1,765
1,849
1,824
1,871
1,910
1,836

5,017
5,066
5,404
5,720
5,848
6,511
6,399
6,861
7,026
7,789
7,759
8,404

1,620
1,675
1,777
1,829
1,928
1,990
2,089
2,109
2,186
2,256
2,377
2,446
2,563
2,598
2,604

Cleveland district

3,037
3,067
3,098
3,100
3,237
3,279
3,380
3,413
3,272

1,838
1,842
1,877
1,898
2,011
2,060
2,135
2,144
2,179
2,162
2,266
2,291
2,376
2,410
2,336

1,428
1,463
1,455
1,475
1,494
1,563
1,575
1,541
1,537
1,546
1,535
1,546
1,531
1,526
1,485

810
804
750

661
647
623
620
624
627
606
597
579
570
547
530
499
489
459

!
i
i
!
i
:

|
i
!
:

819 '
853
843
8S4 j
877 i
950
952
946 j
930 !
953 :
942
954
937
955 i
910 I

I
!
I
|
!
i
i
!
!
!

601
649
597
645
638
668
650
652
654
694
692 i
736 !
705 I
714 |
653 I

1,174
1,190
1,240
1,283
1,381
1,485
1,574
1,616
1,604
1,616
1,690
1,745
1,832
1,859
1,829

632
754
777
879
860
931
900
976
946
1,002
1,027
1,000
977

Atlanta district
428
446
457
468
535
652
579
531
488
481
468
451
447
408
375

737
794
764
813
877
995
939
927
885
888
910
895
898
855
791

Minneapolis district
609
610
612
591
617
613
623
595
607
592
593
592
594
571
575

Dallas district
792
830
801
846
837
875
855
841
853
891
895
938
914
907
842

Nonmember
banks

Member
banks

Philadelphia district

1,165
752
1,240
765
1,221
788
1,281
788
1,412
813
1,647
833
1,518
849
1,458
854
1,373
S27
1,369
843
861 i 1,378
857 ' 1,346
1,345
855
1,262
838
1,166
841

St. Louis district

1,885
1,928
1,925
1,904
1,992
2,043
2,077
2,109
2,114
2,064
2,113
2,121
2,254
2,183
2,081

Kansas City district
849
800
801
805
805
812
777
776
783

923
948
952
957
990
1,030
1,016
1,011
1,014
1,028
1,021
1,022
1,010
974

All
banks

1,806
1,879
1,939
2,037
2,158
2,364
2,434
2,547
2,504
2,592
2,636
2,747
2,859
2,859
2,807

Richmond district
1, 675 S
1, 713 i
1,740 I
1,745 i
1,803 |
1, 863 I
1,865
1, 865
1,841
1,871 |
1,881 !
1,879 !
1,865
1,813 !
1,730 I

756
779
803
826
863
899
902
923
919
939
972
988
1,004
1,004
937

Chicago district
2,880
2,870
2,951
3,031
3,181
3,276
3,374
3,388
3,461
3,519
3,698
3,812
3,792
3,770
3,682

Nonmember
banks

New York district

Boston district
1923—June 30.
Dec. 3 1 1924—June 30..
Dec. 31..
i925—June 30..
Dec. 31..
1926—June 30..
Dec. 31..
1927—June 30..
Dec. 31..
1928—June 30..
Dec. 31..
1929—June 29..
Dec. 31.
1930—June 30.

Member
banks

All
banks

1,333
1,265
1,150
1,139
1,106
1,078
1,039 I
995
956
955
947
951
945
936
874 !

691
656
611
630
597
586
568
554
531
547
544
560
559
563
516

642

!
!
!
I
|
\
!
\
!
I

508
509
492
471
441
425
408
403
391
387
373
358

San Francisco district
191
181 i
204 i
201 j
199 I
207 !
205 :
189 I
199 ;
197 |
203 |
201 ;
209 !
193 i
189 I

2,431 1 1,740
2,478 I 1,686 i
2,527 I 1,722 I
1,767 i
2,567
1,848 I
2,692
1,937 I
2,821
1,952 I
2,877
2, 067
2,962
2,134 !
2,949
2,141 ;
2, 959
2,144 I
2,977
2,109 !
3,107
2,099 i
3,082
2,239 I
3,177
2,109 I
3,021

691
792
805
800
844
884
925
895
815
818
833
998
983
938
912

Figures for nonmember banks are from reports of nearest available date.
NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust
companies, mutual and stock savings banks, and private banks under State supervision.




166

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 89.—ALL BANKS—TOTAL INVESTMENTS, 1923-1930
[In millions of dollars]
All i Member
banks ! banks

Date !

Non- I
memAll
ber
banks
banks

Boston district
1923—June 30
Dec. 31
1924—June 30
Dec. 31
1925—June 30
Dec. 31.
1926—June 30.
Dec. 31
1927—June 30.
Dec. 31
1928—June 30.
Dec. 31
1929—June 29
Dec. 31
1930—June 30

_

1,884
1,874
1,920
1,952
1,993
2,023
2,112
-I 2,123
2,269
2.345
2,418
2,378
2,384
! 2,273
j 2.422

588
577
610
630
632
670
719
720
792
817
793
747
742
650
756

New York district

1,296
1.297
1,310
1.322
1,361
1.353
1,393
1,403
1,477
1.528
1,626
1,632
1,642
1,623
1. 666

j
i
I
!
]
!
s
i
I
I
!
'.

Cleveland district
1923—June 30
Dec. 3 1 . . . .
1924—June 30
Dec. 31
1925—June 30
Dec. 31
1926—June 30
Dec.31
1927—June 30
Dec. 31
1928—June 30
Dec. 31
1929—June 29
Dec. 31
1930—June 30

! 1,304
| 1,290
! 1,370
1.436
1,436
1,399
1,449
1,414
1, 538
I 1,588
j 1,660
I 1,575
! 1, 547
! 1,456
I 1, 568

897
884
950
1,019
1,010
985
1,025
689
1,089
1. 135
1,182
1,123
1,112
1,046
1, 144

407
406
420
417
426
414
424 !
425 ;
449 !
J
454
479 !
452
435
410
425

Chicago district
1923—June 30....
Dec. 31
1924—June 30
Dec. 31..
1925—June 30..
Dec. 31.
1926—June 30
Dec. 31 •
1927—June 30.
Dec. 31.
1928—June 30.
Dec. 31.
1929—June 29.
Dec. 31.
1930-June 30.

409
1,4 ; I
1,2
391
___| 1,4 !
448
627 !
661 I
679 !
I 1,735 !
676 j
832 ]
911 j
016 !
71 !i
912 i

1,026
1,028
1,059
1,179
1,189
1,202
1,205
1,154
1,251
1,339
1,420
1,350
1,260
1,164
1,251

2,480
2,428
2,667
2,946
2,898
2,785
2,910
2, 806
3,100
3,158
3,340
3,189
3,006
3,220
3,472

4,458
4,399
4,695
5,084
5,041
4,888
5,055
4, 935
5, 305
5, 336
5,598
5,341
5,097
5,243
5,709

1,978
1,971
2,028
2,138
2,143
2,103
2,145
2.129
2,205
2, 178
2,258
2,152
2,091
2,023
2,237

Richmond district
525
512
528 1
1
530
529
536
530
582
646
650
643
636
622

i!
ii
i|
;j
I!
;!
ii
ii
i
!'

259
257
240
263
262
260
265
264
297
334
324
317
319

i
i
!
;
!
I
;
!
!
!
!

i

303 :
316 !

266
255
256
265
268
269
271
266
285
312
326
326
317
319
353

St. Louis district
383
363
389
448
472
477
530
522
581
572
596
620
652
623
640

1,389 I

1,345 !
1,395 |
1,469 !
1,494
1,447
1,485
1.487
1,611
1, 650
1,729
1,649
1,601
1,535
1,613

455
444
423
462
489
503
511
517
558
583
605
617
568
546
528

336
329
314
339
350
359
368
366
406
423
442
452
405
381
379

!
'
!

i
!
!
i
i
!
!
I
;

789
779
791
880
868
852
845
862
927
972
966
921
878
828
884

800
566
604
589
626
595
640
625
684
678
763
728
723
708
729

Atlanta district

i
!
|
i
|
!
I
!
I
!
!
i
i
!
i

244 |
251
233
250
284
347
331
329
353
384
375 |!
402 |
389 I]
366 1
1
362 II

182
185
170
182
204
247
233
231
256
276
263
293
279
260
268

62
66
63
68
80
100

I
I
!
!
I
I
I
i

97
108
112
109
110
106
93

I
!

Minneapolis district
119
115
109
123
139
144
143
151
152
159
163
166
163
165
149

333
340
337
424
465
489
509
499
528
571
601
605
594
572
582

206
208
213
276
291
307
313
308
320
350
365
373
364
348
354

127
132
124
148
174
182
197
192
209
222
237
232
230
224
227

Kansas City district
1923—June 30.
Dec. 31.
1924—June 30.
Dec. 31.
1925—June 30.
Dec. 31.
1926—June 30.
Dec. 31.
1927—June 30.
Dec. 31.
1928—June 30.
Dec. 31.
1929—June 29.
Dec. 31.
1930—June 30.
1

333
259
329 i 247
314
238
361
278
394
310
416
327
430
345
454
359
476 i
377
515
408
557 i
436
596
447
571
430
549
408
531
401

592
863
979
1,001
1,051
1,060
1,107
1,128
1,267
1,
1,416
1,361
1,295
1,353

562 !

575
677 |
697
732
736
776
827
943
1,005
1,060
1,007
953
1,001

302
304
319
324
331
301
325
318
356
355
342
353

Figures for nonmember banks are from reports of nearest available date.
NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust
companies, mutual and stock savings banks, and private banks under State supervision.




167

ALL BANKS IN EACH DISTRICT
No.

90.—ALL

BANKS—DEPOSITS

(EXCLUSIVE

OF INTERBANK

DEPOSITS),

1923-1930
[In millions of dollars]
Mem- | NonMem- Non- j All ! Mem- Nonber member;
ber J memberi All
I ber member
banks banks banks ! banks banks ! banks I banks banks

All
banks

Date i

New York district

Boston district
1923—June 30
Dec. 31
1924—June 30.._
Dec. 31
1925—June 30
Dec.31
1926—June 30
Dec. 31
1927—June 30
Dec. 31
1928—June 30.
Dec. 31
1929—June 29
Dec. 31
1930-June30

4,581
1, 830
1,880
4,688
4.868 ; 1,939
2. 051
5, 033
2,114
5,220
5,402
2, 245
2,297
5,580
5, 594
2,286
5,811
2, 359
2,444
6.009
6,106 ; 2,351
6,225
2, 397
6,209 i 2,297
6.298 1 2,391
6, 351
2.355

2, 751
2,808
2,929
2, 982
3,108
3,157
3,283
3,308
3,452
3, 565
3,755
3,828
3,912
3,907
3,996

Cleveland district
1923—June 30.
Dec. 31.
1924—June 30
Dec. 31.
1925—June 30
Dec. 31.
1926—June 30
Dec. 31.
1927—June 30.
Dec. 31.
1928—June 30.
Dec. 31.
1929—June 29.
Dec. 31.
1930—June 30

2,447
2,494
2,605
2, 637
2,782
2,805
2,930
2,883
3,035
3,029
3,139
3,165
3,190
3,154
3,182

3,596
3,662
3,809
3,855
4,043
4,079
4,227
4,146
4,332
4,355
4,498
4,526
4, 523
4,452
4, 439

1,149
1,168
1,204
1,218
1,261
1,274
1.297
1,263
1,297
1, 3i!6
1,359
1,361
1,333
1,298
1,257

Chicago district
1923—June 30....
Dec. 3 1 —
1924—June 30. _.
Dec. 31....
1925—June 30...
Dec. 31..-.
1926—June 30...
Dec. 31-...
1927—June 30. _.
Dec. 31....
1928—June 30...
Dec. 31....
1929—June 29...
Dec. 31—.
1930—June 30...

5,870
5,953
6,121
6,448
6,740
6.858
7,009
6,972
7,171
7,327
7,517
7,667
7, 543
7,381
7,287

|
1923—June 30
Dec. 311924—June 30.
Dec. 31..
1925—June 30.
Dec. 31..
1926—June 30.
Dec. 31
1927—June 30
Dec. 31.
1928—June 30.
Dec. 31.
1929—June 29
Dec. 31
1930—June 30

!
!
1
i

3,570
3,620
3,765
4,006
4,188
4,288
4,344
4,318
4,465
4,649
4,806
4,914
4,721
4,617
4,615

2,300
2,333
2,357
2,442
2,552
2,570
2,665
2,654
2,705
2,679
2,712
2,752
2,822
2,764
2,672

Kansas City district

| 1,814

11,415
6,800
11,986
7,433
12,997
7,952
13,564
8,817
14,362
8,866
14,414
9,469
15, 000
9,206
15,168
9,701
16,264
10, 002
16,312
10,021
16,614
9, 982
18,915
12,140
17, 028
10,351
18,490 ! 11,810
11,981
18,809

988
1,044
1,018
1,092
1,090
1,157
1,138
1,164
1,193
1, 242
1,188
1,214
1,166
1,152
1,105

939
997
964
1,011
993
1,060
1,032
1,058
1,051
1,136
1,096
1,137
1,089 |
1,119 |
1.125

St. Louis district
1,727
1,737
1,720
1,873
1,904
2,031
1,985
1,965
1,976
2,053
2,002
2,045
1,911
1,962
1,879

980
1,016
1,014
1,121
1,097
1,182
1,171
1,186
1,187
1,250
1,215
1,256
1,177
1,213
1,172

917
1,075
1,006
1,099
1,008
1,053
1,049
1,182
1,146
1,290
1,177
1,186
1,108

645
779
676
795
764
822
761

800
800
897
885
989
911
913

867

1,657
1,727
1,757
1,894
1,960
2, 077
2,094
2,166
2,187
2,243
2,232
2,287
2,251
2,265
2,301

1,119
1,171
1,214
1,272
1,319
1,374
1,385
1,436
1,459
1,543
1,532
1,587
1,509
1,480
1,476

Atlanta district
1,305
1,411
1,365
1,553
1,704
2,107
1,805
1,741
1,074
1,736
1, 640
1,673
1,581
1,548
1,441

818 I
j
!
i
i
!
1
j
I
j

880 i

852 |
953 1
1,027
1, 220
1,108
1,092 i
1,066
1,104
1,072
1,093
1,041
1,020

994

487
531
513
600
677
887
697
632
568
580
540
527
447

Minneapolis district
747
721
706
752
807
849
814
779
789
803
787
788
733
750
706

1,570
1,538
1,481
1,596
1,602
1,622
1,576
1,526
1,507
1, 560
1,567
1,596
1,547
1,519
1,482

816
807
805
876
871
880
861
847
842
886
895
929
904
892
876

754
731
676
720
731
742
715
679
665
674
673
666
642
626
606

San Francisco district

Dallas district
851
1,059

. . J 1,924
1,916
1,957
1,962
2,028
1,929
_,___
! 1,909
i 1,841

4,615
4,553
5,045
4,747
5,496
4,945
5,794
5,467
6,262
6,291
6,632
6,776
6,677
6,679
6,829

Richmond district
1,927
2,041
1,982
2,103
2,0S3
2,217
2,170
2,222
2,244
2,378
2,284
2,351
2,255
2,271
2,231

Philadelphia district

206 !
280!
241
280 |
242 i
277 |
247 I
253 |
249 !
285 |
261 !
301 I
266 i
272 !
241 ! ,

3,253
3,424
3,441
3,667
3,747
3,994
3,973
4,116
4,073
4,253
4,297
4,576
4,391
4,529
4, 310 !

2,272 !
2,292 :
2,315
2,511
2,568
2,744 !
2,716 !
2,883
2,974 !
3,114
3,160
3,200 !
3,068 !
3,247 I
3,056 !

981
1,132
1,126
1,156
1,179
1,250
1,257
1.233
1,099
1,139
1,137
1,376
1,323
1, 282
1,254

3
Figures for nonmember banks are from reports of nearest available date.
NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust
companies, mutual and stock savings banks, and private banks under State supervision.


33454—31- -12


168

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

CONDITION OF ALL BANKS, BY STATES
No. 91.—ALL BANKS—TOTAL LOANS AND INVESTMENTS, BY STATES, 1925-1930
[In millions of dollars]
1925

1926

1927

1928

1929

1930

State
Dec. 31 June 30 Dec. 31 \ June 30 Dec. 31 June 30 Dec. 31! June 291 Dec. 31 June 30

New England:
432.51 434.8
Maine
! 371.8 389.2
394.6! 410.0
411.5 428.2 427.3| 437.0
311.3
299.5
New Hampshire.! 258.5 269.9 270.41 282.5] 283.6 301.0 302. 8! 312.5!
250.1
245.6
Vermont
219.8 227.2
227.9| 235.51 239.3 251.1 254. 01 256.6;
Massachusetts.. 3,569.3 3,683.9 3,699.7| 3,862.91 3,959.9 4,137.8 4,125.1! 4,256.8! 4,224.7 4,296.0
533.6!
533.1
Rhode I s l a n d . - .
468.5 479.1 495.0; 513.5
525.1 537.4 537.2
539.6
Connecticut
! 1,052.9 1,088.7 1,101.0' 1,159.1 1,224.6 1,282.1 1,302.5 1,334.4 1,336.3 1,355.0
Middle Atlantic:
i
!
New York
113,086,113,437. 5 13, 711. 6! 14, 581.115, 290. 4 15,880. 7 16,438. 0 16, 563. 217,222.117,422.3
New Jersey
1,979.8 2,073.1 2,175.5! 2,255.4 2,351.5 2,451.9 2,463.2! 2,449.5! 2,388.3 2,404.9
Pennsylvar i a . . J 5,052. 5 5,181.4 5,284.1! 5.406.5 5,557.2 5, 742.6 5,742.0, 5,794.6| 5,703.2 5,779.3
East North Central: I
Ohio
! 2,379.1 2, 466.0 2.451.9! 2,552.1 2,562.6 2,684. 5 2,662.8J 2, 715.1 j 2,691.5 2,628.6
897. 3
832.1 869.3
890.2
868. 7
880.9
875. 9
i.3!
..
862.9 ,
810.7
Indiana.,
Illinois
I 3,444.1 3, 515.1 3,516.9! 3,657.2 3,710.4 3,885.5 3,918.3 3,918.5! 3,802.3 3,814.0
Michigan
! 1,659.3 1, 736. 2 1,761.0] 1,835.2 1,860.9 1,986.1 2,019. 5i 2,070.0! 2,020.6| 1,982.1
905.9
943. l!
953.0!
917.1
938.5
Wisconsin,
'• 834.9 874.7| 876.3; 904.9
906.7
West North Central:!
915.3J
915.71
901.41 877.3
902. 6:
926.
896.1
922.4
Minnesota
! 940.1 923.1
791. 4! 797.31
781.6!
783. 3
788.0
791. lj
756.3
Iowa
856.6 836.4
786. 8
Missouri....
! 1,272.3* 1, 254. 3 1,237.7! 1,242.3 1,269.8 1, 267.0 1, 276.0 1,175.8| 1,199.3 1,183.0
124.7
114.7J
111.6
125.3
129.1
135. 0
128.0
North Dakota...
154.6!1 148.0
101.5
136.7
136.1!
137.5
132.0
120.3
South Dakota...
146. 9 144.5
123. 0
126.8
131.2
408.1
385.41
359.3!
399.6
404. 6
Nebraska...
\ 430.8' 419.1
412. 7i
411.0
333.6
417.41
412.9
404.4|
407.1
400. 7
404. 5;
400.6
Kansas
| 409.1 408.4
376.5
l
South Atlantic:
149. 5! 167.9
167.4 !
131.6
Delawarei 114.8 119. Oj 123.8
136. 3| 144.0
166.3
834. 51 845. 1
837.4
Maryland
! 745.5 749. 9| 769. 8: 788. 5! 837. 6| 820.4
846.7
District of Co- j
!
256.0
253. lj
254.5
244.5
236. 5
lumbia
I 230.8; 232. 2j 232. 8 241.5
242.8
563. 61 554.3
562.7
551.4
560.0
Virginia
| 536.9: 532. 5! 531. 3 536.5
540.5
360.7
363.8
345.1
357.
364. 5
West Virginia...J 366.3 366.2
364. 0
365.4
333.5
408. 21 390.4
416.2
369.51
392.9
387.8
408. 0
North Carolina.! 383.9 397.4
354.1
184. 51 181.0
195.9
180.8
168.61
190.2
South Care Una..
205.7 201.1
181. 6:
159.6
355. 71 352. 4
371. 6|
334.4
360. 6
Georgia
367. Si 374. 2; 346. 2 352.2
328.6
334.9!
311.5
258.3
376. 6| 357.91
Florida..652.1 501. 7' 460. 6 401.9
213.5
I
East South Central: I
I
533. 7i
504. 4
546. 61 560.3
554.2
Kentucky
i 453.4 461. % 465. 2
514. 0|
528.6
432. Oj 429.8
390.61 391. 3! 393. 7 383.3
Tennessee.
400. 5! 407. 6! 413.0;
429.5
312.ll
269. 2,
282.4!
30B.9
261.9
272.0
267. 3:
289. 71 301.7!
Alabama
262.2
220. 21 222.3
212.4
207. 3i 217. 0| 206. 0
223. 7|
212.6
225.11
Mississippi
210.8
West South Central:
208.2
204. 7! 202.4J
199.4
197.5
194.1
Arkansas...
I 207.91 213. 8| 198. 6! 198.8
426.9
429.41
402.0!
413.1
429.2
396.1
Louisiana..
\ 422.3i 405. 6! 417. 4 397.4
409.9
404. 8
348. 7i
367. 7! 356. 1
395. 2|
370.7
400.5
379. 6
380.8
Oklahoma
935. 5j
920. l!
904. 6:
942.8 1, 008. 0 1,032. 2! 1,105. 8| 1, 071. C 1,036.4
966.5
Texas
Mountain:
158. 9i
122.4
123. 9^ 129. 3^ 130.2
147. 6!
144.1
150.6
140.9
Montana...
134.8
82. 2|
73.6
73. 3
79.0
80.7
76.7:
77.2
78.3
Idaho
I
73.
76.1
55.3
57.6!
59.7|
51.4!
50.3
52. 4!
54.6
58.5
Wyoming
__|
51.
54.8
272. 6
264.2
265.4
Colorado
I 258. 7! 256. 6| 262. 4 256.1
266.1
262.3
241.5
26. 8j
29.0
35.4!
40.7
41.01
31.0
37.5
31.8
40.6!
New Mexico
|
39.9
56.7;
57.6
66. 41
84.9
75. 4
81.3!
58.3;
81.2!
Arizona
!
61. 9|
75.3
158.0
160. 2
Utah
i 137. 5i 135. 5; 143. 4; 140. 8| 152.2', 152. 3
161.7|
159.3
38.9!
34.8
40.5
37.7
Nevada...
3o.7|
35. 2,
38. Oi
34. Oj
35.9
36.9
!
Pacific:
388. fii 398. 4
448. 6j 447.3
Washington
401. l!
439.8
423.1
406.6
459.8
455.1
249. 5|
253. 1
254. 0: 253. 0
260. 0
263.1;
Oregon
262.2;
260.
260.5|
249.4
2,953.2! 3,004.2 3,121.3; 3,128.2| 3,234.9 3,281.1 3,478.2 3,407.' 3,420.01 3,352.7
California..
Back figures. —See Annual Report for 1927 (Table 81).
NOTE.—For classes of banks included see note to Tables 87-90. Figures for member banks are for
dates specified; for nonmember banks, for nearest date for which reports are available.




169

ALL BANKS, BY STATES
No. 93.—ALL BANKS—TOTAL LOANS, BY STATES, 1925-1930
[In millions of dollars]
1925

1928

1927

1928

1929

1930

| D e c . 311 J u n e 30 Dec. 31 j J u n e 301 Dec. 31 J u n e 30 j Dec. 31 J u n e 29 | Dec. 311 J u n e 3 0
United States

35, G40.0|36,157.4|36,758.8J 37,36O.o| 38,407.1;39,464. l[40,762.7;41,511.8J41,898.4 40,618.1

New England:
!
230.3!
230.6|
209.8!
214.0
194.5
231.5
19fi. 2
Maine
! 179.8:
183.8|
187.6!
157.7!
157.5
140.0
147.7!
149.3i
140.0!
150.8
N e w H a m p s h i r e ! 127.9|
131.1 131.5|
162.1
158.4
155. 0i
151.6
156.1
158.8!
155.2
Vermont
I 148.4;
152.4 151.4|
M a s s a c h u s e t t s - . ! 2,501.7i 2,560. 6| 2, 581.2 2,637.3! 2,691.0 2,831.8 2,844.7! 2,947.5 3,007.5 2,954.8
310.7
308.6
276.5
274. 3!
303.9
285.1
290.0i
Rhode Island...i
246.7
258.81 265.8
794.8
806.9
702.5
803.7
738.6;
764.4|
Connecticut
! 595.5 615.5
620.1
658.1
Middle Atlantic:
j
I
New York
I 8,942.6| 9,146.1 9, 549. 2 10,081.0!l0, 787. 7 11,148.6111,931.6|l2, 281.7 12,754.7 12,570.8
-I A-\e\ Q I ADA o l • KOK O 1 607.4! 1 fiKrt 1 1 UKA O 1 COO 1 1 KCa
»
New Jersey
1,232.9| 1,315.6 1, 412.81| 1,464.8! 1,535.8 1, aiXl A\ 1,650.1 1,654.2 1,633.7 1,566.5K
P e n n s y l v a n i a . . . 2,994.2! 3,068.9 3,193.8! 3,136.41 3.206.7 3,309.6| 3,433. l| 3, 568. 2 3,574.7 3,483.8
East North Central:
j
Ohio
I 1,804.9! 1,857.6 1,857.5 1,895.8] 1,906.2 1,968.8! 1,985.6 2,030.2 2,057.4 1,981.6
670.5
662.5i
664.5
676.2
648.5
Indiana
| 641.0| 676.1
673.8 i 658.7
605.3
Illinois
I 2,560.1 2,606.8 2, 651.4 2,694.2! 2,714.3 2,831.8! 2,902.8 2, 951. 6 2,888.1 2,822.1
.,__
,
Michigan
: 1,177.3 1,248.0 1,279.71. _1,328.41 1,330.7 1,424.3i 1,455.7 1,515.1 1,514.1 1,452.9
;
Wisconsin
606. li
625.8
631.3
625.2|
633.4
618.31
642.8^
657.3| 676.3
654.7
West North Central:
541. 5!
538.3
539.0;
549.9!
580.3 j 546. 6
Minnesota
J
622.4 i 589.9
505.8
668. 4|
670.4i
670.8!
678. 2|
695.51
Iowa
: 761.8! 733.
676. 0
646.0
902. 9
906. 5] 891.1
885. 4i
Missouri
; 949.21 921.4
881.4! 835. li
850.1
83.2!
93.3
103.0
91. li
99.9
North D a k o t a . _
114. 51 113.0
88.6!
72.8
93.3'
94.31
94.3!
95.4!
South D a k o t a . . .
123. l! 114.7
91.0
95.8;
91.6
335.3
351.0! 338. 7
291. 8;
308. 3!
Nebraska
! 371.7! 360.5
312.9
241.5
303.0
318.4! 311.5
295. 61
298.4;
Kansas
! 328.8| 331.6
298.3!
276.9
South Atlantic:
119.3
83.2
73.2!
78.4
92.6!
98.2
Delaware
j
67.6, 69.5
114.6
515.9!
493. 0
488.6;
476.4
502.6|
Maryland
! 462.31 465.3
495.8
484. 4i
District of Co!
194. 31
176.7
174.41
190.4
190.8
181.8
lumbia
I 169.8 j 171.3
176.7
!
455, 9|
469.8
453. 1!
467.6!
457. 2
Virginia
465.6'
466.8
457. 9
438.1
306. 51 299. 9
299.9
West Virginia...!
309.2j 305.5
288. 61
294.91
294.4
263.8
353.0! 342.4;
North Carolina.!
348.2'
348. 6
335. 5'
358. 9i
349.4
357.2
298.9
148.5J
144.1|
South Carolina..!
170.5!
144.4
138. 9
147. 6j
138.8|
169.71
117.0
297.8!
295.3
295. 8!
312.81
Georgia
| 324.5! 326. 61 298.8!
287.9
266.5
343.31 278.4
Florida.
252.0
190.1:
109.0
235. 5|
213.0
509.81 379.8|
East South Central: i
434. 6:
392. 2| 395. 5
Kentucky
; 364.11 371. lj 371.8j
404.4i
416.5
414.6
334. 2! 344.7
344.2
343. 8
345.6
Tennessee
j 344. li
348.31 356.8;
354.6
231. 7
249. 4!
221.7
213.41
223.5
219.2
243.7i
Alabama
i
251.2!
210.8
172.3
170.1!
163.1
160.91
163.4|
173.3
172. 2j
Mississippi
166.8|
161.9
West South Central: |
164. 4^
170.5
182.2
173.8J
186. 91
160.2\
167.6;
166. 7
Arkansas.
157.4
345.7:
331.4
360.6
341.4! 354.0
330. 6l
Louisiana
340. li
336.1
319.2
262. 2!
255. 71
255.1!
245.4
244.9
Oklahoma
246. 0
255.4|
247.0
803. 4|
793.61 831.4|
Texas
I
793. 4
756. 2
766.5| 754.1!
740. 5;
739.0
Mountain:
:
|
94.2
Montana
94.5!
100.1J
81. 3|
88.1
83.8|
87.7!
79.9
78.3!
80.6
48.5
48.6
Idaho
48.0i
47.8
49.81
49.5
50.0!
50.6
49.4
47.1
38.4
37.4;
Wyoming
40.3:
38.11
39. Ol
40.3
40.0!
39.3
38.7
37.4
Colorado..166.11 159.4!
171.4!
165.8i
164.3:
173.6
169. 4! 162. 9
173.5i
153.0
20.3 i
New Mexico
20.7!
23.8!
25.9!
22.8
26.2
25.7j
24.8
19.5;
20.4
Arizona
42. 51
40. 2|
51.2
54.3i
44.2
51.8!
43.2j
42.9
49.9'
46.5
Utah
119.4
111.5J
122.5
122. 0
123.5i
126.01 121.4
108.91 106.5
Nevada
27! 5|
27.9!
27.8
30.8!
28. 71
29.8!
26.9!
27.1
29.2!
28.2
j
Pacific:
264.51
257. el
Washington
261.1
260. 0
262. 5
275.81
278 5
286.3
303.6!
296.7
163.9
Oregon..
160.9
162. 4
168.0!
149. 6
147.61
145. 7
145.4!
148.01 140.4
California
j 2,185.6 2,232.5 2,321.7 2,312. 7 2, 318. 6 2, 322. 6 2, 444 1 U 1 3 . 6 1 2,487.1 2,356.9
JBocA figures.—See Annual Report for 1927 (Table 82).
NOTE,—For classes of banks included see note to Tables 87-90. Figures for member banks are for dates
specified; for nonmember banks, for nearest date for which reports are available.




170

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 93.—ALL BANKS—INVESTMENTS, BY STATES, 1925-1930
fin millions of dollars]
1925

1926

1927

1928

:

1929

1930

Stale

Dec. 31 June 30

Dec. 31 J u n e 30

Dec. 31

J u n e 30 Dec. 31 iJ u n e 29 \ Dec.

31

J u n e 30

14,963.3 15 404.5 15,259.5 16,390.7: 17,043.4 17,801.2 17, 503. 7 16, 962. 2 16, 518.6 17,493. 2

New England:
Maine
New Hampshire;
Vermont
Massachusetts..
Rhode Island-.-!
Connecticut
Middle Atlantic:
New York......_i
New Jersey...__
Pennsylvania.._
East North Central:
Ohio
Indiana
Illinois
Michigan
.
Wisconsin
West North Central:
Minnesota
Iowa
Missouri
North Dakota...
South Dakota—.
Nebraska
Kansas
South Atlantic:
Delaware
Maryland
District of Columbia
'
Virginia.
West Virginia...;
North Carolina.
South Carolina..:
Georgia
Florida
East South Central:
Kentucky ..„_;
Tennessee
Alabama.
_
Mississippi
West South Central:
Arkansas
Louisiana
\
Oklahoma
Texas
Mountain:
Montana
Idaho
......
Wyoming...
Colorado...
New Mexico
Arizona
Utah
Nevada
.....
Pacific:
Washington.....
Oregon
California...

205.4
213. 8
206. 7^ 201.9
192.0
207.0
218. b
203.3
217.0
213. 3;
130.6
138.8
138.9
142.5
143.6
153.2
154. 8'
153.9
148.7
153. 5
71.4
76.5
87.7
94.6!
74.8
80.5
95.2
90.4
95.0
91.6
1,067.6 1 123.3 1,118.5 1, 225. 6 1,268.9 1, 305. 9 1, 280. 4 1,309. 3! 1, 217.2 1,341.2
220.3
221.8
226. 9!
222.4
235.7
229.2
239. 2
248.6
252.3
247. 2
457.4
473.2
480.9
539. 5!
529.4
522.1
551.3
543.5
538. 2:
501.0
4,143. 5 4 291.4 4,162. 4 4,500.1 4,502. 7 4, 732.1 4, 506.4^ 4, 281. 4i 4, 467. 5 4,851. 5
746.9
757.5
762.7
815.7
795.3!
754.7
838.4
790. 6
844.5
813.1!
2,058. 3 2 112.5 2,090. 3 2,270.1 2,350. 5 2,433.0 2, 308. 9! 2, 226. 4! 2,128.5 2, 295. 6
574.2
191.1
884.0
481.9
228.8

608.4
193.2
908.3
488.2
248.9

594.4
192.5
865.5
481.3
251.1

656.3;
207.1!
963. o;
506. 9
271. 5

656.4
715.7
677. 2
232.8
227.7
217.2
996.1 1,053. 7 1,015.5!
530.2
563.8i
561.9
295.8
287.6
285. 9'

684. 9!
225.8
967. 0;
554.9;
276. 7j

634.1
214.4
914.1
506.5
262.4

647.0
205.3
991.9
529.1
275. 4

317.7
94.8
323.1
40.1;
23.8!
59.1
80.3

333. 2
102.5
332.9
35.0
29.8
58.6
76.8

322.3
95.6
331.2
32.0
28.7
61.7
86.1

349.5
107.3
351. 2
29.2;
29.3
65.9
89.2

372.5
108.6
366.9
34.7
33.5
75.7
97.6

387.7
117.6
381.5
34.2
37.7
91.3
108.7

377.0i
120. 6|
394.6!
36.1!
40.9!
95.1|
119. i;

374. 2i
128. 9;
340. 6i
31.5
40. 8i
93.6
117.3

355.8
119.2
331.2
32.6
41.1
87.2
111.8

371.5
110.3
332.9
28.7
39.6
92.1
99.6

47.2:
283.2

49.5
284.6

50.6
281.2

53.2
312.1

53.1
344.6

51.4
336.1

51.2!
331.9!

48.5^
329.2

48.4
319.1

51.8
350.9

61.0
71.3
57.1
35.7
35. 2
43.3
142.3

60.9
74.6
60.7
40.2
31.4
47.6!
121.9;

58. 4
75.4
57. 5
39-9;
33.1;
47.4!
117.3;

59.7
79.3
65.5
45.4
36.7
54. 4!
123. 5)

59. 8
90.2
64.6
59. 4
45.8 s
65.3!
124.6;

64.1
95.2!
68.91
57.31
48.4
58.8
122.5

62.3;
96.8
66.3,
58.8s
45.7J
67.8!
121.9;

61. 6
98.2
69.0
54.8;
42. 1;
56.7:
121. 4!

59.8!
95.4
65.0
57.4,
42.7
57.2
108. 5

66.1
102.4
69.6
55.2
42.6
62.0
104.5

89. 3!
46.5
48.5
43.9

90.1;
47.1
45.7
43.7

93. 4!
48.1 ;
48.1;
45.1!

112. 2|
49. li
50.3
49.5;

118.4!
56.0'
57. 9!
52.8!

129.3
63.9
58.0
51.5

130. lj
64.7
60.9i
53.4!

125. 7!
75.1 !
57.5|
52. 2!

116.0!
69.3
53.4!
54.4i

114*0
75.0
51.4
48.9

25.7
61.7
103. 8i
169. 0i

26. 91
64.2
112.0;
166.0;

24.8!
63. 4j
119.6|
164.1!

28.3^
66.0!
125.3!
186. 6|

37.1
71.4
140.1
238.5

42.2|
89.3
149.4|

274. 41

43. 8i
81. 2
>
147.7:
268. 2;

42.3
81-7!
147. l!
237.8l

36.7
77.0
133.8
227.5

44.1'
23.0
12.7
89. 3;
7.3
13.5
28.6;
7.1

43.3!
23:9:
12.9;
93.7!
8.6
14.7'
29. 0!
7.7;

48. 0i
26. 9|
14.3
96.3!
10.3
18.11
29.1!
7.7;

46.4!
25. 41
I4.4i
96. 7i
11. 51
19.4!
29.3!
7.8|

32.7;
77.0;
133. 6|
214. 6i
i
52. 8'
29.7i
16.2;
99.9!
12.6
22.2
29.7;
8.1!

53.1
31.0
16.3
100.2
13.7
24.2!
32.9!
9.0

58.81
32.7!
19.4!
99.0!
14. 9:
29. 5|
36 6\
9 1!

56.4!
28.7!
18.2i
94.0!
14.81
30. 61
36.0!

56.4!
30.8;
17. 61
88.9|
14.8
31.3
35.7

54.8
29.0
15.5
88.5
15.1
28.8
37.9
8.7

131.0!
85.6
767. 7 i

133. 9J

141.1!
91. 6j
799. 6:

145. 5'
92.11
815.5!

160. 6
111.1
916.3

164.0
170.1!
114.61
117. li
958.5 1,034.11

161.0!
114.6'
994. li

156. 2
112. 5!
932.9!

158.3
109.0
995.8

85.1
771. 7

Back noures.—See Annual Report for 1927 (Table 83).
NOTE.—For classes of banks included see note to Tables 87-90. Figures for member banks are
dates specified; for nonmember banks, for nearest date for which reports are available.




CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT
No.

LT, M E M R E R

BANKS

P R I N C I P A L R E S O U R C E S AND

L I A R I U T T R R ON CAT,TJ

DATES,

1922

1930

BOSTON DISTRICT
[In thousands of dollars. For backfiguressee Annual Report for 1927, Table 86J
Loans and investments
Capital,

Investments

Call date

Total
1922—Dec. 29
1923—Apr. 3
June 30
Sept. 14
Dec. 31
1924—Mar. 31
June 30
Oct. 10
Dec. 31
1925—Apr. 6
June 30
Sept. 28
Dec. 31
1926—Apr. 12
June 30
Dec. 31
1927—Mar. 23
June 30
Oct. 10
Dec. 31
1928— Feb. 28
June 30
Oct. 3
Dec. 31
1929--Mar. 27
June 29..._.
Oct. 4_
Dec. 31
1930—Mar. 27
June 30
Sept. 24. . .
Dec.31_-._-

Loansi

360,707
395,154
443. 972
466,144
440, 407
441,4091
442, 6601
524, 2961
503, 9331
547, 736;
2,233, 551 601, 878
2, 304,449 670,070!
2, 361, 779 692, 247
2,373,498 668,643
2,409, 270 690, 063?
2, 428,155 708,281!
687,125!
2,436, 708 11.
2, 535,667 743, 948i
2, 597,011 785, 651
2, 582, 622 765,143
2, 565,655 742, 626
2,641,830 849, 278
2, 587,156 806. 4951
2,571,115 824', 366
2, 600,035 823, 340
2, 612, 944 870,849
2, 634,401 919, 834
2,560,758 910,499
2, 570, 904 868, 945
2,591,638 1 835, 784
2,583,459 * 808,162
2, 510, 87" 749, 779
1, 940,910
1, 969, 736
2,031, 548
2, 046, 991
2,017, 467
2,008, 342 il.
2,052,373 -'
2,159, 930
2,133, 539
2,174, 362

For footnotes see p. 173,




| Due

ruTsTTo'th^r I banks 2

Total It securili ties

securities ;

580, 203 ! 252, 241
574, 582 247,503:
587, 576! 257, 4591
580, 847! 253,106;
577,060| 249,397!
560,933M 237, 550!
609,713i 249,332!
635, 634^ 243,543!;
629,606) 243, 009
626, 626 ! 239,983!
|
631,6731, 232, 736
634,379i! 232, 530
669,532j| 247,490
704,855; 274, 757
719,207!; 256, 848
719,874! 237,182
749, 5831! 255, 739
791,719! 254,097
811,360! 250, 600
817,479! 267, 616
823,029;; 267, 776
792,552) 245,492
780, 6611: 269,057
746,749! 235,373
770,695!! 285,195
742,095 M 266, 299
714,567!; 265,004j
650,259! I 215,919
701,959" 245, 582
755,854'! 244,471
775,297! 237,405!
761,100! I 231, 504

327, 962! 85, 972;
327,079 83, 864;
330,117 79,175;
327, 741 79, 873!
327, 663 92, 943 [
329,383 73, 729
360,381) 102,6311
392,091! 102, 7401
386, 597! 102,551!
386, 643 84,469!
88,607!
401, 849 87,157!
422,042 104, 9441
430,098 90, 542!
462, 359 93, 797!
482, 692| 92, 3821
493,844! 84,9941
537,622 103,185 j
560, 760 94, 307|
549,863; 119,993!
555, 253 82,106!
547,060 85,376!
511,604; 92, 218
511,376! 106,184;
491, 500! 84, 873 i
475,796! 84, 925!
449,563! 101, 612;
434, 340! 143,446!
456, 377 82, 524;
511, 383! 102,186]
537,892: 117,148|
529, 596 150,613;

profits3

Net Reserve Bills
I United |
with
Net
Total Demand! Time
States j Due to demand demand Fed- payable Numplus eral re- and
ber of
dededeposits posits * ! posits s ! Ji?:+ | Ui4BKS 6 deposits time
de- ! banks "
positse !
serve redis- banks
deposits banks counts

1,923,6931L 234, 774; 510,1
1, 929, 943 1 198, 935 551, 328
1,962,709 1 217, 221 574, 781
1,976,910 1,228, 530 593,934
2,023,190 1 256, 9601 599, 437
1,990, 907il 196, 287! 633, 558
2,103, 255 1 256, 930! 657, 438!
2, 220, 595 l!297, 2191 702,701;
2, 226,423 1,
329,125| 685, 8751
2,193,088 1.254,916! 733,041j
2, 272,117 . 342,065! 758, 742j
l!
,
2,303,432! 1,365,614' 762,858!
2,411,894jl 434,657! 782.875!.
2,396,760|l, 362,354! 812, 4611
2,459,050(1, 422,959! 844,070!
2,447,47611 404, 878; 858,168;
2, 432,82911. 330,989! 890, 9631
2,553.87111 403,3481 932,343
2,614, 75511 421,146J 964, 529!
2,651,44411 448,088 973,967;
2,530,462!! 364, 539 975,0871
2,526,299!! 344,158
2, 590, 58811 407, 211 973,494!
2, 580, 809 1435,056 953,438;
2, 485, 726 331, 795 970, 563!
!
2,461,146 l! 328,394 950,349
2, 544,171 401, 910 945,129!
2,576,938!! 450,895 932, 439;
2,465,425;! 300,064 968,882!
464,789; 2,557,000 1 333, 958 998,159!
469,781 2,525,4091 278,606 1, 026, 784!
456, 625!2, 533, 237 il 298, 073 995,1131

341,189
341, 830
343, 218
340, 726
335, 621
340,304
341, 710
347, 779
338,921
361, 307
363,459
359,046
357.928
368,659
361, 503
365,463
379,172
389,942
397, 255
394,661
400,829
415, 764
424,207
429, 459|
438, 251
434,830
459, 297
453,834
459, 638

25,124 152,8341, 255,210 1, 766,171 129,027
26, 303 153,377 1, 223, 726 1, 775, 054 123,011
38,182| 132,525 1, 234,101 1, 808, 882 125, 773
20,803! 133,643 il, 247, 569 1, 841, 503 122,910
23, 552 143,24111, 262,1261 1, 861, 563 124,243
21, 555 139, 507 1, 213,113! 1, 846, 671 121, 920
25,119! 163, 76811, 281,509! 1, 938,947 130,161
2, 043,467 136,458
41,814| 178,861 j 1,
36,150| 175, 273! 1, 349, 294 2,035,169 140, 840J
169, 22911, 294,8181 2,027,859 132,902
35, 902!
12,9131 158, 397 1, 352, 242 2,110, 984 141, 042
19,656| 155. 304 1, 382,824 2,145, 682 141, 545
27,916 166, 446 1, 427, 788i 2, 210,663 141,116
53, 727 168, 218 1, 386, 713; 2,199,174 143, 796
30, 211 161,810 1, 407, 2191 2, 251,289 145,607
22, 566! 161,86411, 404, 289| 2, 262,457 147, 755
39,132J 171,745H, 361,1691 2, 252,132 142, 872
23,936! 194, 24411, 419,891! 2,352,234! 149, 723
39, 269; 189,811|1. 455. 932| 2,420,461! 148,087
21,577 2O7,812J1, 480, 026 2,453,993 155, 948
!
5, 729! 185,10? 411,270 2,386,357 149,208!
13, 808J 175, 236 1, 383, 589 2,376,686 140,412
14,936| 194,947 1,440,131! 2,413,625 157,605
183, 32911,427, 987| 2,381,425 145,171
20, 2231 163,145 1,337, 990! 2, 308, 553 142, 396!
18,6101 163, 793 1, 347,4741 2,297, 823 140, 400!
20,463! 176, 669 1,394, 5661 2, 339, 695 151, 226
7,882! 185, 722 1,426, 027j 2,358,4C6 142, 707
23,888) 172,5911, 336, 765! 2, 305,647 141,753
23,334 201, 549 1 351, 605 2, 349, 764 146, 052:
22,773 197,246 l!321,040 2, 347,824 146,499!
23, 788 216,263 1.309, 501 2,304,614 147, 298i

59,859
63,903
71,377
80,249
74, 200
40,896
20,886
9,842
39, 777
41,082
55,649
46, 249
71,910
31, 261
48,321
83,467
37, 821
60,484
37, 781 i
31,975
62,089
92,444
51,850
76,144
79, 792
85, 630
79,837
48, 531
31,228
29, r"
16,742
19,230!

429
427
427
424
424
421
421
419
419
420
420
420
420
418
416
416
415
414
414
413
413
410
408
408
407
408
407
404
403
401
398
396

feJ
>

No.

04.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES,

1922-1930—Continued

to

NEW YORK DISTRICT
[In thousands of dollars.
Loans and investments
Investments
Call date
Total

Loans l
Total

1922—Dec. 29
1923—Apr. 3 . - .
June 30..
Sept. 14..
Dec. 3 1 . .
1924—Mar. 3 1 . .
June 30..
Oct. 10..
Dec. 31-.
1925—Apr. 6 . . .
June 30..
Sept. 28..
Dec. 3 1 . .

U. S.
securities

Other
securities

| 7,466, 608J 4,932, 801 2, 533, 807 1,339,197 1, 194,610
J 7,454,083! 4,980,882 2,473,201 1,323,6221. 149,579
-i 7,497,451 5,017,444 2,480,007 1, 314,491 i; 165, 516
1
7,293,253 4,902,895 2,390,358 1,219,196 1,17
171,162
"
-i 7,494,010 5,066,154 2, 427,856 1,228,164 1, 199, 692
7,590,730 5,179,101 2,411,62$ 1,172,822 1; 238,807
8,070,966 5,404,044 2,666, 922 (1, 226,982 1
439, 940
8,471,246 5, 544,211 2, 927,035 jl, 366, 791 l| 244
560,
8, 666, 683 5, 720, 312 2,946,371 1,321,606 1, 624,765

For back figures se8 Annual Report for 1927, Table 86]

Capital, I
Due surplus, j Total
Demand! Time
and
from
dededeposits posits * | posits 6
banks 2 undiI
vided
profits

1928—Feb. 2 8 . .
June 30..
Oct. 3 . . .
Dec. 3 1 . .
1929—Mar. 27_.
June 29._.
Oct. 4___
Dec. 3 1 . .
1930 Mar. 27..
June 30-.
•Sept. 24 _.
Dec. 3 1 . .

.111,317,183 8,139, 496 3,177, 687
.111,775,345 8,769,456 3,005,889
J l l , 763,448 8, 813, 46G 2, 949, 982
-|l2, 316, 203 lJ, 096, 589 3, 219, 614
.•11,782,558 8,541,437|3,241,121
112,385,202 8,913,656 3,471,546
12, 092, 719 8i
1,596,139 3,497, 580
j 12,023, 389 8,299,878 3, 723, 511
"

1927—Mar. 23..
June 30. _
Oct. 10...
Dec. 3 1 . .




393,095 1, 784, 592!
263,469 1,742,420
235, 794 1, 714,188
342,844 1,876,770
417,3991,823,722
405, 299 2, 066, 247
367,087 2,130,493
493,680 2,229,831^

r>rm tn

! Reserve! Bills ;
! Fed- p a y a b l e I isiumand j ber of
plus
? !demand
eral reredis- j banks
| deposits
time
\
! deposits serve counts |
banks
Net

Net

I

169,438 1,185,280 8,591,88615,720,830 1,438,246 218,392 1, 214,418|5,681,802i
155,347 1,189,347 8,023,814 5,079, 498 1, 578, 708163,6211, 201,98715,431,859
153,136 1,192,425 8,017,195 5,108,106 1,610,560 81,8061, 216,723)5,521,324
i,**.,, vvi 7, 769,874 4,993,407 1,639, 550 31, 687 1, 105, 230 5, 315, 7491
190', 096 1,208,144J 8,747,80215, 703,986 1,666,420 62,6661, 314, 730J5, 040,308
155,082 1,234,431' 8,809,424',5,622, 719Jl, 744,610 74,2481, 367,847 5,606,831
189,547 1, 239,667| 9,535,373J6,128,8841, 786, 274 36,4721, 583, 743.6,184, 9281
190,055 1,267,110| 9,454, 508J5, 794,88811,978,009 62, 615! 1, 618, 996 6, 444, 058!
203,212 1,267,123J10,481, 558J6,754,878,2, Oil, 599| 50,5381, 664,543 6,700,924!

8,499, 410 5, 634,028|2,865,382 1,252,9411, 612,441! 169,194 1,322,7711 9, 433, 563 5, 845, 209(2,082,315
-I 8,745,748 5, 848,14812,897, 600 X 243, 957|1, 653,643; 207, 783 1, 339,54110,419, 292-6, 740, 915 2,099, 725
- 8,833,166! 5,982,39412,850,772i! 1,202, 51711, 648,255! 178,142 1,343,249! 9,697, 3156,186, 688 2, 111, 813
205, 724 1,367, 649,11, 052, 855:7, 216,381 2,178, 484
-| 9,296,598 6, fill, 49612, 785,1021 1,186, 237 1,
! 9,039,654 6,207,46812,832,186:1, 171,41411,660,772 187, 772 1,431, 456J10,062,890^6,323, 716 2, 253,128
J 9,308,438 6, 398, 775 2, 909, 663 II, 196,774'1,712,889: 202, 914 1,432,738 10,772,48816, 852,192 2,312,027
-! 9,666,981 6,861,318 2,805, 663J 1, 060,4041,745,259 230, 7091,499,733 11,263, 683(7,194, 385 2,445,925
.1 9,595,924 6,601,14612,994,778! 11, 183,807il, 810,971 i 182,240|l, 559,062 10,490,336 6,428, 938 2, 527,820|
-110,125,804 7,026,078|3,099,726|!l 176,808! 1, 922,918 227,7651,602,008 11,722,453 7, 314,105 2, 654, 557|
.110,135,010 7,111,070 3,023,940 " ' 162,683| 1, 861,257! 198,737 1,652,65311,206,035 6,704,641 2,748,230j
212,650! 1, 945,802; 248,865J1, 702,548J11, 943, 780 7,108, 056 2,837, 085!
.,10,946,991 7, 788, 539|3,158,452
.|10,427,642 7,167,80i!3, 259,838
341,4301, 918,408* 188, 780!l, 742,07111, 259, 540 6, 708,895 2,902, i ™
.11,098,295 7, 758, 512 3,339,783 372,2481, 967, 535! 207,414! 1,863,66511,683, 615 6,875,421 3,037, 691!
.,10,826,917 7, 590,497 3, 236, 420
399, 687 '1, 836,733 191,928 2,005,088! 11, 440, 606 6,817,686 3,069, 337!
.111,592,908 8,404, 303 3,188, 605 353,4381, 835,167 234,068 2, 064, 23313,939, 287 8,930, 673 3,145,434!

1926—Apr. 12..
June 30. .
Dec. 31. .

States
deposits

84,7991,421. 240 6,178, 514
25,85111, 552, 801! 6, 629, 782
66,1151, 332, 699 6, 351,193
74, 3521, 583, 638 6, 960,131

7,120, 048J
7, 010, 567;
7,131,884 j
6, 955, 299:
7, 306, 728
7, 351, 441!
7, 971, 202)
8,422, 067!
8, 772, 523;

756,020
717, 537
700,431
682,911}
713,147]

738, 616! 107,153;
756, 5061 61, 985:
831,948 47,157 1
885,556 100,152

803
813
821
827
835
843
840
845
855

8,260,829!
8,729,507!
8.463,006;
9,138,6151

777,110!
848,817!
801, 882j
868,685j

168, 780;
138,950
231,187)
258,133 s

d
t-1

d
O
Ed

857
866
874
880

167,268]
238,334!
203,963
209,2071
166.190;

71,0371, 415, 009 6,444, 716 8,697,844! 781,876] 156,512
42^ 021]lI 566^ 248'6,836', 535J 9,148,562! 864,614} 110,458:
60,0371, 563, 336 6, 935, 656 9, 381, 581 840,895 211,854
~~ ""—
"- —
112,072J1,421,506 6, 662, 934 9,190, 754 929,202] 161,514
32,922j 1,720,869 7, 235, 629 9,890,186 918,169} 112,560
152,0371,601,127 6,858,140 9, 606, 370 901,892 185,495^
75,808.1,922.831 7, 629,367 10, 466,452 1,037,883 314, 259
17,5421,630,907 7,067,895 9,970,091 933,218 142,917!
1,0771, 701, 426 7,197,614 10, 235, 305 943,631 481,048;
34,6361,518,947 6,741,434 9, 810, 771 891,999! 391,150!
980, "•••
63,493.1, 799, 687 7, 612, 549 10, 757,983 — 644 4 9 9 , 4 4 5
I
220,157 2, 239, 766 j 12,743,835 8,021.115 3,151,080 151,0401,414, 600 6,973, 252 10,130,332 930,041 342,651
252,483 2, 368, 25411,867, 044 7,153, 302 3,104,840; 92, 465 1, 516, 437 7, 279, 211 10, 384, 051 953,347 j 453, 235!
3,
297,
29 388 2, 605, 77412, 507,151 7, 721. 250 1,252.1411 82,747 1,451.013 7,003,104 10, 255, 245 897.455! 255,340
2 0 7 7 ! 2 0 7 1 5 , 721,
!
,
3,
,
294,98912, 658, 308; 13, 606, 551 8, 588, 004 ! 196,141 26, 219 1, 796^ 187 7,830, 361 11,026,502 984, 256! 257,911
219,566|2, 670,93lil2,210,785 7, 264, 702 3, 357, 316: 109, 321:1, 479,44616,970,221110, 327, 537) 949,841 82,851
304,895 2, 662,34413, 901, 873)8, 404, 794 3,481, 780! 93,937 1,921, 362J7, 569,465J11,051, 245J 985,488! 166,061
254,417 2,724,21912,150, 654! 6, 854, 598 3,433,075) '0, 328 1", 792, 653 7, 231, 340 10, 664,4151,022,510 69,445
296,202 2,600,335113,050, 337J7,811, 998 3,171,518 .01,637 015,184|7, 746, 316110,917, 834 1,062,054; 88,14 ft

885
896
913
924
927
933
937
934
934
934

fe!

§
W
O
>

933
931
927
923
922
914

PHILADELPHIA DISTRICT
203,896 1,066, 597 l,588,274j 116,132

53, 701

716

206, 638 1,071,449
185, 086 I , 057,052
192, 2 3 2 1 072,889
.,
213,094 1,075,482

1,646,6751
1,670,7801
1,701,330
1,720,734

116,272
116,108
114,275
118,960

70,502
86,022
64,331
68,468

717
720
722
722

L,
1,897, 466 985,701 679,593! 33,448, 198, T24 1 033, 544
L,
1,987,313 ,030,686 l 705,706} 20,906! 280, 015 1 080,153
2,110,591 1,063, 780| 742,770| 42,937 261, 1041:, 135,386
:,
2,137, 279 " —S, Q75t 774,356 25, 549 243, 399 1 154,183
1.

1, 713,137
1, 785,859
1,878,156
1,928, 539

114,381
121,313
124,297
129,361

51,173
32, 632
23,099
42, 386

724
730
736
738

^
£

1,926,388
1,989,664
2,010,519
2,070,805

|
£
gj
2

1922—Dec. 29

l,831,634j!l,075,741

755,893

262,794

493,099 109,103! 383,421 1,775, 7821,019, 587j

521,677!

1923—Apr. 3 . . .
June 30-.
Sept. 14._
Dec. 3 1 . .

1,913,64O| 1,134, 757
1,963,141| 1,173,858
1,968,196 i 1,193,908
1,969,009 j 1,189,753

778,883
789,283
774,288
779,256

279,312
281,681
269,162
262,763

[,027,471!
499,571 108,467! 387,467 1,841,9321
507,602 97, 850! 390,655 1,842,476 1 ,018,886!
505,126 97,357! 398,264 1,861,0701
1,026,379!
516,493 113,505; 400,928 1,940, 235 1.
i,
1,063,120!

575,226i 32,597!
613,728 24, 776
628,4411 14,018
645,2521 18,769

1924—Mar. 3 1 . .
June 30-.
Oct. 10-_
Dec. 3 1 . .

1,988,084
2,031,362
2,137,583
2,162,974

1,214,437
1, 240, 407
1,285,853
1,283,288

773,647 251,066
790,955 236,3001
851,730 i 244,0841
879,686 257,384!

522,581 98,310|
554, 655 132, 372!
607, 646 160, 5121
622,302 119,997;

1925—Apr. 6 . . .
June30..
Sept. 28..
Dec. 31._

2, 229, 6411 1,350,269
2,248,606| 1,380,644
2,307,840! 1,446,386
2,336,9291 1,484,944

879,372 I 254,8281
867,962 233,020!
861,454 225,886
851,985 224,8771

624, 544
634,942
635,568
627,108

410,062
425,265
443,186
441, 738

30,622

782,7091 49, 749
809,2561 18,917
829,146! 26, 712
28,906

229,1,865 1,143,679
218,899 1,180,408
205,822 1,181,373
223,347 1,220,887!

119,790
139,752
129,518)
139,8011

40,180
54,793
54,980
61,698

740
749
753
751

880,283
897,7451
942,801

47,298
27,070
29,388

211,621 1,192, 583 2,072,866 131,9io!
224,407 1,210, 594 2,108,339 135,378!
219,I, 433 1, 219,381 2,162,182 139,754!
""

65,059
66,680
75,116

756
760

2,369,542 1,141,824 975,913
2,395,978 1,160, 679J1,000,432!
2, 443, 61511,163, 603|l, 025,9941
2, 468,8671,167,963 1,054,625

45, 592
25,778
41, 613
21,013

206,213 1,202,784
209,089 1,198,405
212, 405 1,225,298
225,266|l,200,390

2,178, 697
2,198,837
2, 251,292
2,255,015]

138,39l|
140,900:
141,789
142,118!

52,640
65,731
39,513
72,839

770
773
776
777

122,145! 454,274 2,145,079 1,082,756
108, 951 460,206 2,178,883 1,131,811
109,1121 463,378 2,193,043 1,131,363
126,8911 467,109 2, 300, 317 1,198,146

1926—Apr. 1 2 . .
JuneSO..
Dec. 3 1 . .

2,404,477! 1, 545, 600: 858,877 '
i 2,419,615! 1,574,278! 845, 337
2,478,1211 1,615,7011 862,420

244,189
213,342
205,786

614,688 118, 6561
2,292,189 1,152,987
631,995 117,493! 488,052 2,318,643 1 ,169,421
656,634 122, 531j 507,067 2, 385, 649 I., 194,027

1927—Mar. 23_.
June 30-.
Oct. 10__
Dec. 3 1 . .

2,518, 2691 1. 593, 8401
.,
2,531, 080 . 1, 604,480i
2,589,323] 1,619, 5991
I 2,588,373 1, 616, 325!

924,429
926, 600
969,724
972,048

247,1731
233,691!
248, 6421
233,553

677,256
692, 909
721,082
738,495]

1928—Feb. 2 8 . . . . . . 2,574,616 |l,597,468!
June 30
i 2,655,802 1,690,219
Oct. 3_
I 2,693,461 1,729,944
Dec. 3 1 .
' 2,665,755 1,744,565
-•• —

977,148
965,583
963,517
921,190

241,3251
226,496|
249, 5981
230,977 i

735,823: 99,071! 550, 082 2,387,9921,115, 7091 , 070,330
4,1
739,087; 115,888 563,490 2,419,7781,114, 254 1'
L
,104,008 13,208
713,919| 119,703 582. 059 2,467,617.1,140,456 1,106,901!
8,499
690,213! 126,280! 578, 972 2,487,654:1,179,855 1,091,091 j 15,572

197,120
188,308
211,761
201,136

1,176, 753
1,149,187
1,177,6
1,171, 440

2, 247,083!
2,253,195!
2,284,5871
2,262,531!

141,136! 66,396
137,420; 112,785
142,4381 113,808
136,047: 99,244

779
786
784
778

1929—Mar. 27..
June 29..
Oct, 4___
Dec. 3 1 . .

2,713,684! 1,813,353
2, 710, 020| 1,832, 438
2, 754, 9271|1,889,6511
2, 686, 721|jl, 859, 014

900,
877,
865,
827,

227, 898 i
221, 220i
217,173!
193, 436!

1930-Mar. 2 7 June30...
Sept. 24..
Dec. 3 1 . .

2,670,612. 1,833,980!
2, 713,218 11,829,346!
2,736,570:11,814,241!
2,733,204; 1,767,136

836,632
883,872
922,329 I
966,068 I

105,424!
112,284!
105,960!
130,785

516, 626
520,155
543, 528
542,259

i

331
582
276
707

672,4331
656,362
648,103
834, 271;
!
189, 544! 647,088
195, 507J 688,365
195, 564! 726,765i
219,250' 748,818

M

601,140
624, 773
651, 832
649,169

2, 423, 843:1,139,98311, 087,755
2, 434, 8691,146, 20711, 075, 299
2,441,824 1,140,9121, 084,492
2,468,444!!, 185,0391,069, 359

22,243
29, 840
29, 694
10,130

173,,862
183, 523
186, 726
203,,916

1,,151,602
1,164,842
1,171, 097
1
1,176, 799

2,239,3571
2,240,141
2,255,589
2,246,158

136,094 125,933
138,878 105,055
136,598 101, 593
137,069 94,311

2,410,795! 1, 095, 903|l, 108, 362
2,518,979 1,144,17411,132,217|
2, 540,895i 1,101,074j 1,161,258
2, 577, 5001,144,318 1,173, 585

22,887
24,259
18,129
21, 525

183, 643 1, 136, 032
L,
218,329 1, 171,732
L,
200,434 1 182,753
[,
238,072 1, 187,035
[,

2,244,394
2,303,949
2,344,011
2,360, 620

135,21i;
139, 989!
142,720!
145,098

w

O

777
776
771
764

105,969 657,887
131,774 655,023
161,814! 660, 545
148,079! 651,161

P^
»

759
756
755
753

98,940
113,037
107,137
118,092

48, 705
44,961
26,856
40, 774

1

Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement.
Does not include items with Federal reserve banks in process of collection, or amounts due from foreign banks or own foreign branches,
Includes reserves for dividends, contingencies, etc., but excludes, beginning Sept. 28, 1925, reserves for interest, taxes, and other expenses accrued and unpaid.
4
Includes certified and cashiers' or treasurers' checks and letters of credit and travelers' checks sold for cash.
* Includes postal-savings deposits.
• Includes amounts due to Federal reserve banks, foreign banks, and other banks; also amounts due to own foreign branches.
7
Due to banks revised (for New York district only) to include amounts due to own foreign branches beginning Mar, 23,1927.
2

3




co

No.

94.—ALL

MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930—Continued
[In thousands of dollars.

CLEVELAND DISTRICT
For back figures see Annual Report for 1927, Table 86]

Loans and investments
Investments
Loans 1

Total

Total

U. S.
securities

! Capital,
: Due surplus, i
and
Total I Demand Time
i from
dedeposits i deundibanks 2
i posits * posits s
Other
vided
securiprofits J
ties

States
deposits

Net
demand
Due to 1 N e t
demand
plus
banks6 deposits
time
deposits

Reserve Bills I
! with payable;
: Fed- a'nd I N o u i eral re- redis- i ber of
banks
serve
; banks counts !
I

1922—Dec. 29.
1923—Apr. 3._.
June 30..
Sept. 14.
Dec. 31.

: 2, 566, 545 J, 674, 543: 892, 002' j
2, 635, 721 1, 735, 66 li 900, 060,
2, 735,101 1,838, 266! 896, 835;
2, 737,022 1, 829,479| 907, 543
2, 725,468 1,841, 586| 883, 882|
1, 862, 522 922, 9511
1,877,0611 950, 318'
1,896,77711 030, 795
1,896,063 1 019,0841
1,969,49411,021,274.
2,011,473 1,009,892
2, 063, 815 1,019, 020
2,059, 826 984, 787

364, 992!
380,895'
446, 091
426, 795;

523,411 i 159,714, 479, 440' 2, 532,153J1, 265, 529 1, 005, 547!
510, 289 165,4G9j 482, 034! 2, 628, 373:1, 340, 85811,024, 774;
518,616 153,032i 484, 360| 2, 655, 422J1, 359, 759J1, 068, 268!
532,743 153,484; 493, 451 2, 693, 402 1, 358, 576 1,104, 348;
545,945| 147,0S8j 492, 586 2, 697, 972! 1, 331, 249 1,135,752;
557, 9591! 159,5801 501, 837| 2, 747, 624)1, 330, 507 1, 172, 043:
569,423 178,200; 504, 602' 2, 833, 901!], 352, 41lil, 233, 441
584, 704 202,198! 519, 340: 2, 951, 279:i, 374,189! 1, 252. 237j
592, 289; 169,935J 513,341: 2, 917,911 1,367, 064|l, 246, 764

423, 828!
407, 929
415,174'
377,444,

597,446;
601,963
603, 846,
607, 343

2,110,503|1,004,1001
2,135,31111,025,437
2,143,838j 988, 687
2,159,73411,072,545
2; 178, 525! 1,088, 540
2,200,73911,124,561
2,161, 76511,134, f"~
2,187, 627 1,159, 49G
265,798 1,181, 78"
2, 274, 465 1,152,513
2,291, 196 1,123, 095
'

404,163
402,385:
353, 932

599, 937 161,630;
623, 052 177, 936!
634, 755 170,647J
661, 263 185,496|
689, 780 168,759
699,413 185,855
722, 960 184,196
725,140; 179,299
752,314^ 159,780
704, 727i 182, 543
699,134, 181,140
674, 589! 149, 644
6767 872| 149,974
651,101 i 156,900
640,130; 156,348

924—Mar. 31June30Oct. 10..
Dec. 31..

2, 785,473
2,827, 379
2, 927, 572
2, 915,147

925—Apr. 6__.
June 30.
Sept. 28.
Dec. 31..
26—Apr. 12..
June 30-.
Dec. 31-.
1927—Mar. 23.
June 30..
Oct. 10..
Dec. 31..

2, 990, 76S
3, 021, 365
3, 082,835
3,044, 613
3,114, 603
3,160, 748
3,132, 525
3, 232, 279
3, 267, 065
3,325, 300
3, 296,433;

1928—Feb. 28..
June 30..
Oct. 3__.
Dec. 31..

3, 347,123
3,447, 585
3, 426, 978
3, 414, 291

1929—Mar. 27.
June 29..
Oct. 4__.
Dec. 31..
1930—Mar. 27.
June 30Sept. 24.
Dec. 31..

3, 477, 587 2, 352, 327
3, 487, 780 2, 375, 807
3, 498, 265 2, 418, 362
""
3,455,405 2, 409, 537
3,454, 303 2, 374,125
3', 479, 033 2, 335, 504
3, 529, 783 2, 299, 809
3,418, 757 2, 262, 364




1,125,260
1,111,973
L, 079, 903 i
1
!
1, 045, 868
1,080.178
1,143; 529 j
1, 229, 974
1,156, 393

368,59l|
389, 7711
378, 219
374, 800|
337, 937|

411, 282
398, 760'
425,148i
411, 708;
434, 356'
429,473|
447, 786!
423, 961

169,015!
158,871i
161,9471
170,7641

450, 671
435,1011
428, 8021
405, 738!
444,159 636,019 163,521
448, 274 695,255: 206,853
514, 973 715,001 i 223,062
445, 525 710, 868: 194, 723

525,296!
523, 686!
520, 333!
516,112;
527,090l
526,1681
529, 783|
540, 208|
539,565!
551, 294J
549,'
9,9211
533.163!
560,096J
569,882
570,421!
581,977!
604,259
621,478
618,487
627,239
625,425
628,203!
618,557!

35,701|
28, 6901
18,9191
7, 608!
27, 205

225,376|1,368,1301
234,0511,407,058|
208.476 1,415,2161
222,8701,421,416|
203,766 1,358,515j

34,566 210,508 1,383,494
19,129! 228, 920 1,411,454
33,165! 291, 688 1,488,136
22, 816J 281,267 1,453,9511
2,997, 555! 1, 383. 080! 1, 298, 976: 48, 567; 266, 932 1,479, 878!
3, 034, 500'1,429,178; 1, 32S, 000 24, 696; 252, 626 1,504, 378!
3, 052,19211,429, 260jl, 342, 045i 35, 393! 245,48811,502,967,!
3, 052, 565J1, 438, 295! 1, 338, 656: 27, 7511 247,863jl,473,218|
3, 096, 756! 1, 426,150 1, 388,458: 41, 796J 240,3521,477,901!
3,169, 922; 1, 478, 616|l, 426, 613! 25,181 239, 512 1,529, 8531
3,129,859; 1,439, 708J1,423, 674; 20,495 245,982)1,471,472!
3, 270,117jl, 495,113,1,479,320j 30. 294! 265,39011,570,390
3, 290,464jl, 490,171 1, 523,854 21, 243! 255,1961.559,309!
3, 335,184 1, 458, 387 1, 568, 627j 31,243! 276,927|l, 549,1431
3, 303, 75611,460, 348 1, 544, 204 24,4011 274,803|l,523,126|
22i 1
9, 267! 279, 228 ., 534, 9571
3,356.7 66 1 458,127 1., 610,1-141
.,
.,
3, 366, ~ 1,477, 849 1. 643. 809| 17, 629 227, 001 1, 521,844 i
3,413, 370 1 479, 885 ., 645, 637; 12,773 275, 075 1,553,7121
..
>,
1,
—
.,
,497, 765 1 642, 632 24,153 236, 562 1, 490,257
3,401,
L
3,386, 308 1 465, 567 1, 670, 439 30, 8331 219, 469 1., 504, 034
,
3,402, 038 1. 479, 422 1, 677,186 33, 222 212, 208 1 504, 025
i,
.,
.,
3,394,71 1, 490, 884 1, 639, 075 34, 330 230, 428 1 529, 640
l,
L
,
1, 620, 642 13,814 222, 7591 511, 793
3,376, 486 1 519, 271
'" .,
'.,
3,394,247 1,435, 149 1 679, 379 25,113! 254, 606 1
.,
:,
1,506,413
i,
.,
I,
.,
!,
3. 503, 553 1 483, 483 1 673, 804 24, 496| 321,, 770 1 573, 536
I,
., 409,291 1, 724, 543 25, 525! 402, 440 1 593,066
3,561,
.,
.,
3,427,997 1,432, 806 1, 652, 812 28, 5001 313, 879 1, 512,452

2,373,677

153,239

2,431,8321
2,483,4841
2, 525, 764!
2,494, 267!
2, 555, 537
2, 644, 895
2, 740, 373!
2, 700, 715

159,367
151,213
159,162
152,093

2, 778,854
2, 832, 378!
2, 845, 0121
2,811,874j
2, 866, 3591
2,956,466!
2,895,146 j
3,049,710
3,083,163
3,117, 770J
3,067,330!
3,145,101
3,165, 653
3,199, 349
3,132, 889
3,174, 473
3,181, 211
3,168, 715
3,132, 435
3,185, 792
3,247,340!
3,317,609|
3,165,264!

156,029
158,172
168,858
163, 593
177, 348
175, 224
176, 535
172,340
177,825
179,455
179,490
194,278
180,034
193, 891
180, 917
196, 926
181, 671
191,919
185, 295
184, 871
192,911
192, 649
180,470
189,145
190,633
198,747
185,745

56, 797J
41, 373;
83,832
64,120
57,9141

878
880
881
877

46, 290
31,671
28,647
55,626
40,069'
47, 997i
65,761!
76,722

876
873
872
871
869
865
864
863

65,634
58,821
91,355
44.937
48, 511
60, 721 i
68, 372|
74, 224J
111,464!
78,368j
105, 201 j

860
860
856
846
841
836
835
834
823
818
816

101, 605
97, 512
103, 637i
100,499;
35, 9161
39,488!
22,842i
50.938

811
807
804
795
789
781
767
757

c

tr1
rp
ft!

w
o
>

RICHMOND DISTRICT
1922—Dec. 29

543,219

399,175

13,095

133,630|

573,281

972,456!

61,123

64,328

630

552,
540,
546,
592,

422, 732
432, 936
432,629
441, 388

14, 702
14,090
8,775
10,494

126,3411
107, 675!
113,177"
148, 9331

576, 244
998, 976
553, 972) 986,908!
559,966 j 992,595
617,517 l,058,905!

61,395
59,493
60,947
66,378

61,853
83,340
92,951
63,393

629
626
627

556,141! 455, 391
541,144! 466,110
551, 704! 479,437
596, 804; 483, 072

14, 257|
10,635
20, 641
12,472

115, 939!
123, 787
141,256
148,818

571, 757
552,623
576,343
614,340

1,027,148:
1,018,7331,
1, 055, 780!
1,097,412;

61,505
61,079
64, 699
69,632

72,649!
67,596
51,434
47,745

626
624
620
617

1,224,377
1,213,2581
1,248, 596
1,316,353

566,497^
567, 657!
583, 238!
631,108!

494,553
510,542
507, 871
510,316

22,934
12, 088
13,877
15, 543

140,393
122, 971
143, 610
159,386

592,666
577, 037
604, 262
650,431

1,087,219!
1,087, 579
1,112,133!
1,160,747|

65,060 48,083
62, 745 66, 7
68,417
70,031 55,249

595 H
607

234,457 1, 275,337
232,255 1,267, 999
233, 269 1,313,711

598, 0411
601, 696!
626, 016|

517,887!
522,721!
526,2671

21,124
13, 775
12,489

138,2851 617,119 1,135,006
129,807 611,544! 1,134,265
148,939 643,917 1.170,184

66,746 53,065;
66, 977 58,373
71,890 36,895!

592
587
583

1,147,755

893,543

254,212| 142,681

111,531!

86,156

1923—Apr. 3 - . .
June30..
Sept. 14..
Dec. 31 —

,168,867
,181,802
,194,326
, 204,445

910, 300
922,863
932,180
947, 604

258,567
258, 939
262,146
256,841

147,561
145, 510
147,139
141,937

111,0061
113,429!
115,007!
114,904

90,3351
80,5101
80,302i
102, 3311

1924—Mar. 31..
June 30..
Oct. 10..
Dec. 31. .

, 212,007
., 192, 837
1,215,112
1, 220,335

958,139
952,353
957,002
957, 330|

132, 974
124,328
132, 989
132,612

120,894! 81,830| 230,271! 1,141,728
116,156 87,187 229,001! 1,141,676
125.121 107,074| 234,0731 1,193,038
130,393! 109,057! 229, 014! 1, 241,166

1925—Apr. 6 . . .
June 30. _
Sept. 28. _
Dec. 3 1 . .

1, 243, (
975, 772
1,251, 624 989, 566
1, 275,481 1, 016, 936
1,289, 955 1,030, 047

253,8681
240,484
258,110;
263,005|
|
267,3141
262,058!
258,545!
259, 908!

138, 29'
131,765
129,071
126, 227

129,017 98, 2361
130,293 91,496
129,474 104,110
133,681; 112,063

235,0341
234,199
234,103
229, 688

1926—Apr. 12..
June30_.
Dec. 3 1 . .

I

•

|

\

>,
223,193 1,089, 1 1 9 1
222,836:
222,392
226,592 ;
222,481|

1 138
1,116,138
1,095,204
1,101,106
1,193,361

363
503
525:
546

j

I

606
604

264,837j
265,024
263,614!

132,506
126,264|
120,744!

132,33li 94,614!
138,7601 99,617!
142,870| 111,896!

1927—Mar. 23..
June 30..
Oct. 1 0 Dec. 31 —

1, 292, 990 1, 028,153
1, 281,068, 1,016,044
1,274,867) 1, 011, 253|
j
1,288, 676! 1, 007, 986!
1,310,826 1,013,6101
1,358, 261 1, 033,609
1, 362, 094 1,028, 354

280, 690!
297, 216!
324,652!
333, 740|

131,424!
132,422j
143,394!
139,1411

149,266!
164,794!
181,2581
194,599j

102, 0551
104,877
120,437!
124,0771

238,412
237,349
243,6241
239,425j

1,299,956
1,331,522
1,396,3041
1,414,728

593, 218!
613,5961
627, 914!
626,750;

538,140!
566,449!
580,490|
599,094!

21, 906
12,9221
24,059!
16,416!

146,692
138,555
163, 841
172,468

620, 750
630,919
655,550
654,181

1,158,!
1,197,368
1, 236,040
1, 253,275

70, 751
73, 254
74,167
76,460

27,457!
35, 479
34, 572!
31,557|

571
569
568
564

1928—Feb. 28..
June 30 _.
Oct. 3 . . .
Dec. 31 —

1,341,648
1, 344,487
1,338,981
1,338,263

1,012, 275
1, 020, 535
1,023,137
1,021,518

329,37311
323,952
315,844!
316,7451

135,934:
130,587:
131,460;
129,800!

193,439}
193,365;
184,384!
186,945

97,880 242,136
90,184 240,848
104,668 237,724
103,575! 238,406i

1,336,705|
l,303,39li
1,326,052!
1,355,455

587,171!
571, 878!
582,109!
602,1581

599, 9281
606,060!
599,678!
596,387!

8, 5251
10,655!
10, 798!
15, 727;

141,081
114,798
133, 467
141,183

622,355
580,900
598,316
613,570

1, 222, 283
1,186, 960
1,197,994
1,209,957

71, 705 34,039!
69,881 69,150:
70, 995 63,165
67,
48, 723

561
557
554
547

1929—Mar. 27_.
June 29..
Oct. 4_._
Dec. 31._

1,351,229 1,023, 816
1, 328,903 1,010, 212
l,298,r"
989, 745!
1,277,559
974,1731

327,4131
318,691;
309,143 j
303, 386

143, 695!
137,4371
132,387!
124,446J

183, 718
181, 254
176,756
178,940

84,581
93,116
88, 291!
100,586

241,135!
240,3291
237,050!
235, 7211

1,313,731
1,280,461
1,263,480
1,288,540

572,875!
557, 838 i
551, 578 i
577.939!

596,201!
586, 753!
574,326!
562,064i

117, 533
114, 681
121, 227
136, 024

586, 527
563, 267
563, 485
583, 556

1,182, 728
1,150,020
1,137,811
1,145, 620

66, 9061
67, 912
67,661
68, 293

55,183!
70,031!
64. 5261
47, 8111

541
537

O

514

,a
_

1930—Mar. 27..
June30__
Sept, 24__
Dec. 31. _

I, 223, 245
1, 204,480
1,205,717||
1,153, 803 I

294, 509!
316,024
324, 144:
311,631

123,601:
130,574;
126.7031
109. 825

170,908j 86,133;
185,450! 104.047
197.44!! 110,915
201, 806! 9R, 169

231,059! 1.219,974
227, 3221 1,221,564
228. 119! 1,230,344
221, 7441'1,192, 332

524, 000;
519,525!
514, 470!
517,499!

27,122!
21,189J
16, 349!
12,513!
I
553, 6191 27,899!
564, 034 j 21, 807!
567,161 i 22,655!
538,3831 18,105!

114,456 546,135 1,099,754
116,198 525, 076 1,089,110
126. 053 530, 281 1,097,442
118,345 520,162 1,058,545

65,915)
65 085;
65, 07tij
63, 153!

21, 1221
28, 706'
25, 603!
31,584!

504

2

486
485
470

O
H

For footnotes, see p. 173.




928. 736
888,456
881,573|
842,172}

>

a

524 gj

No.

94.—ALL MEMBER

BANKS—PRINCIPAL

RESOURCES AND LIABILITIES ON CALL DATES,
ATLANTA DISTRICT
{In thousands of dollars. For back figures see Annual Report for 1927, Table 86]
I

i Capital,
Due

Investments
Tof.al

1922—Dec. 29.
1923—Apr. 3 . .
June 30.
Sept. 14.
Dec. 31.
1924—Mar. 31.
June 30.
Oct. 10..
Dec. 31.
1925—Apr. 6...
June 30.
Sept. 28.
Dec. 31..
1926—Apr. 12..
June 30..
Dec. 31.
1927—Mar. 23.
June30.
Oct. 10..
Dec. 31.
1928—Feb. 28.
June 30.
Oct. 3-_
Dec. 31.
1929—Mar. 27.
June 29.
Oct. 4__.
Dec. 31.
1930—Mar. 27.
June30Sept. 24.
Dec. 31.

| Loans

882 540|
907,130!
919, 555i
922, 3571
978, 266 J
963, 919
934,134
950,287
995,156
1, 056, 772
1, 080, 744
1,196, 653
1, 241,844
1, 235,196
1,171,995
1,154,415
1,141,096
1,159, 731
1,164,625
1,139, 0611
1,173,465!
1.187, 513!
1.188, 390
1,191, 275
1,176, 597
1,148,656
1,114, 730
1,107,362
1, 059,199
1, 052, 537
989,419




| U. S. I Other
Total J seuuri- I securities
ties

714,1601

168, 380

730, 565 i
737, 488!
739, 312
793,646
784, 4991
764,146!
778,419
813, 079i

176,565
182, 067
183, 045
184, 620
179, 420
169, 988
171,868
182,077

860, 245
877,181
962,891,
995, 262|

196,
203,
233,
246,

989, 4741
938, 7721
927,0021

245, 722
233, 223
231,181

902,85l|
885,482j
899, 5051
888, 206j

251, 564
255,614
260, 226
276,419

880, 600!
910,22l!
901,140i
895,201

258,461
263, 244
286, 373,
293,189!

906, 887
897,985
889,106
854, 781
844, 621
791, 083
768, 264
725, 754

284, 388
278, 612
259, 550
259, 949
262, 741
268,116
284, 273
263,665

527
563
762
582

100, 228;
106, 877j
106,432!
104, 242
101, 638
94, 421
80, 497
78, 776
80, 359

68,152
69,688
75, 635
78, 803
82,982
84,999
89,49l!
93,092J
101, 718

91,181 105,346!
90, 891 112, 672!
127, 562)
140,445!

106, 200
106,137
108,152
95, 441
87,187
113,807
112, 963
118,192
124, 664!
113,431'
113,83l|
134,003
134, 779;
1.32, 450;
122,667j
116,596)
115, 228 j
120, 0131
117,470]
133,542
112,276

115,426!
119,6061
96, 574!
91, 633!
120, 703;
106,991!
116, 989
144,634
161, 860
186, 971!
168, 938 i
215,141!
210, 957!

137, 570! 172, 755,
137, 782! 154, 822
143,994 161, 285!
137,757
142,651
142,034!
151,755|

143, 649;
136, 702.
160,498!
158, 654|

145, 030'
149, 4131
152, 370|
158,410
151, 938
155,945
142, 954
144, 721

141, 847!
124,169!
127, 258
144,035

142, 728
150,646
150,73l!
151,389!

Total I
de osits
P
i posits «
profits

125, 248
112,477
131. 260
131, 722
134,143
134, 558
132,270
134,760

3

1922-1930—Continued

Time
deposits 6

j

1
.

927,000|

168, 360;
169,795 963, 289!
811!
170,178 926, 050!
173, 278 901,
168,988!! 1, 014,180|
173, 570 980, 9111
175,148 966, 022!
177,989! 1,021,003!
172,972 1,125, 180|
178, 380 1,204, 801 j
178,489 1, 208, 026J
180, 729 1,371,168
177, 718| 1,447, 965j
188, 2451 1, 356, 323
188,184! 1, 266, 473|
187, 212: 1, 266, 229|
191, 831! 1, 235, 743!
192, 237 1, 217,106
195,180 1, 269, 428
192, 703 1,288,011:
196,841 1, 227, 296
198,004 1, 205,667!
201, 877; 1,165,149!
199,912, 1, 254, 032|
207,159' 1, 206, 6781
204,891! 1,158,873'
204,017; 1,138, 705
199,144| 1,167, 244
204, 075; 1, ]60,825i
200,821'; 1,112,1831
200,892! 1,088,932
184,316! 1,068,251

499,465!

505,043;
486, 685
476, 242|
542, 810!
513, 5191
490, 845!
512, 505;
585, 68o!
603, 787|
617, 406
700, 987
777, 929|
715, 043
651,910
645, 5111
601,435!
587,824
596, 810
623,504|
594, 333|
577, 566
548,165
609, 252
581, 634
543, 341
538, 060
573,943
551,112
523,687
495,338
505,807

! Net
I United I
Net I
I States I D u e to demand j demand
plus
| de- ! banks « deposits! time
| posits |
I deposits

281,241
306, 252
317,947
316,151
323, 934j
334,010|
353, 746!
353,174;
359, 3731
382,1081
398, 360j
407,425!
425, 613j
432,954
443, 009
431, 328
447,148]
461, 9931
454, 642
462, 740J
458,
476,
466,
466,

559J
523
823
602|

457, 469
471, 495
441,190
431,846
445, 273
445, 648
434,962
410,425

55,669

! Bills !
! payablel Nuini a n d b e r of
! redis" ' b a n k *

13,395!

132,899!

519,55ll

14,606j
13, 421'
8,432 !
13,421;
8,964
7,113
11,001
7,904

137,388!
108.758
100, 225i
134,015
124,418
114, 318
144, 323
172,218|
200, 7is|
180, 676!
244, 235
228, 247
187, 784
158, 803
173, 919(
161, 990;
150,445(
193,619;
184, 437,
169,404;
133, 713|
137,975|
161,156|
141,431;
117, 763!
134, 642!
146,824;
135,12a!
118, 0891
126,972;
124,249!

527,310! 833,562' 57,037 27,987
505, 089! 823,036; 53, 814 43,7211
485, 2031 801, 3541 51,438 69, 232!
553,646 j 877, 580; 55,029! 64,445J
531,2051 865, 215! 55,143 59, 592
501, 765 855, 511' 56,482 46, 248
530,425 883, 599; 57, 512 38, 723
607,089 966,462, 63,489
642, 390 1, 024, 4981 63, 983 25, 254
649, 793 1,048,153' 70, 528 31, 015
755,671 1,163, 096! 77. 372 37, 247 j
808,949 1, 234, 562! 79, 311 32,135|
748, 555 1,181, 509: 77, 529 52,124j
667, 695 1,110, 704! 67,406 49, 667
660, 973 1, 092, 301! 68, 292 52, 551
629, 897 1, 077,045* 69, 360 47, 029
611,919 1, 073, 912i 65,820 42,495
635, 345 1, 089,987 67, 307! 36, 7811
650,431 1,113,171 73, 2151 34,421;
630, 232 1, 088, 791! 70, 5831 33, 578^
595,928 1, 072,451 65, 7951 54, 288;
564, 397! 1, 031, 220 64,351 110,903s
625,5661 1, 092,168 63,852 52,139j
607,415; 1,064,884 68, 951 60,800
554, 699! 1, 026,194 64,202 72,078
549, 930; 991,120 62, 475 90, 766
586, 606! 1,018,452 64,132 42,323
506,865 1,012.138 65.236 26, 5761
530, 534; 976,182 62,122 32, 0141
508,334| 943,296 60,519 33,836
509,161| 919,586 62, 543 26,409;

18,188
11,584
18, 521
16,176
20, 542
12, 751
15, 471
25,170
16,844
24, 357
17, 330
5,000
18,165
12,186
17, 022
26,144
26, 274
24, 813
14, 631
29, 317
24, 759
SI. 660
27,770

800,792

!li;

39,587j

536

533
530
528
525
519
518
515
510
505
501
500
495
492
471
469
465
464
460
457
454
453
444
436
431
428
419
409
407
390

d

O
O

1
i
w
o
>

CHICAGO DISTRICT
1922-Dec. 29
1923—Apr. 3 _ .
June 30.
Sept. 14.
Dec. 31

3, 749,072 2, 751, 210
I 3,875,140
3,905,944
, ,
,
| 3,898,506

||
i
i
997,850! 463,450| 534,397.296,525

:
i
j
(V08,6271 3,938, 631 1,949,008; 1., 433,100

2,857,54611,
2,880,0421, 025, 902 j
2,885,975! 1, 010,881 i
.
.
2,870,0741, 028,432 ;

464,8111 552,783j 323,115i
, j
474, 862! 551040 306,254'
551,040
475,597! 535,284 300, 297|
457, 5451 570,887 299, 879;

603, 560;
605, 630
615, 238^
608,381

4,045,088',l, 956,60111, 483,743
4,091, 564i2, 001,3941, 530, 721
4,074,409'l,986,751|l, 535,188
4,123,464|2,022,700|l, 572, 311

49,121

\
|
507,402 2,108,478! 3,541,578; 277, 731 i 106, 724J

1,440

39,014- 565,730 2,158, 605|
37,941 521, 508 2,178, 847|
17,458! 535,012 2,173,344!
25,441 503, 012 2,153, 042;

3, 642,348!
3, 709, 568!
3, 708, 532|
3,725,353!

269, 689j 123,996
273,134| 89,375
282, 042 92, 722
270,698 109,317

1,437
1,434
1,432
1,427

38, 552'
22, 736:
28,753i
35, 548?

546,153i 2,149, 297
620,939!2,287,485
695, 828 % 443,302
624,023|2,423,364|

3,739,088!
3, 932, 769|
4,121. 740
4,155,735!

261,675
298,035
308, 679
314,698

70,9
51,190|
35,0941
44, 245i

1,423
1,422
1,419
1,408

613,4962,389,382i 4,150, 994J
610, 788:2,480, S53; 4, 314,491!
572, 959!2, 493, 037i 4,330, 679
586,106J2, 535, 7191 4,416, 761

312,949i 60,618|
322, 224i 71, 238
319,513! 66,770
305,336| 93,857

1,407
1,404
1,408
1,398

606, 218;2, 519, 704! 4,418,045 321,0711 80,919
612,85812,558,731 4,493,775 342,157 98,965!
569, 249!2, 512,156 4,448,021 310,644; 108, 289j

1,379
1,366
1,335

1924—Mar. 3 1 . .
June 3 0 . .
Oct. 1 0 . .

Dec. 31..

.1
J
J
„!

3,935,047
4,009,954
4,220,466
4,209,725

2, 919, 5391, 015,508 !
2,950,86311, 059,091 i
3, 074, 9781, 145,488 I
3,031,120J1, 178,605 |

466, 7411 548,767 295,9351
493,4141 565,677 372,892!
522,8741 622, 6141 400,150!
523,3651 655,2401 365,987.

617, 270
619,066
633,161
617,035

4,116,023
4,385,733
4,571,553
4, 630,437

1925—Apr. 6 —
J u n e 30_,
Sept. 28..
Dec. 3 1 . .

J
.
.!
-|

4,263,294
4,370,447
4,433,495
4,478,729

3,058,0621, 205,232|l
3,181,23611, 189, 211 j:
3, 245, 976)1, 187, 519
3, 276, 272 1, 202,457

672,430
679,9921
690,846!
707,1711

630, 730j
630, 078!
626,355
617,289
'""

4, 600,403 2,168, 798; 1, 761, 612
4, 798, 702 2,324,424 1,833, 638
4,742,329 2,300,409|l, 837, 642
4, 873, 893 2, 369, 67711, 881, 042

1926—Apr. 1 2 . .
J u n e 30. _
Dec. 3 1 . .

. 4,490,062 3, 286,195 1, 203, 867
J 4,579,409 3,374,232 1,205,177!
..! 4,542,539 3,388,470| 1,154,069

532,802;
509, 219
496, 6731
495, 2861
I
481, 677
496, 670
414,941

722,190 337,713
708,5071 368,451
739,128; 333,944

629,089 4,831,961 2, 292,078 1,898,341
644,846 4, 957, 253 2, 388,376 1, 935, 044
653, 259 4, 887, 284 2,358, 79011, 935, 865

56,497;
29, 852!
31,319!
37, 088J
!
35, 324j
20,975
23,380

1927—Mar, 2 3 . .
June 3 0 . .
Oct. 1 0 . .
Dec. 3 1 . .

.
..i
.
...

4,589,907
4,711,934
4,748,""
4,858,646

3, 328, 215 [ 1, 261, 692
3,460,58811,251,346
3, 486, 4171, 262, 392
3,519,37311,339,273

493, 243
497, 669
489, 950
503,452

768,449 i
753,677!
772,442!
835,821!

314,242
336,691
329,073
328,559

668,841
679,468
694,979
709,876

4, 844, 751 2, 273, 46411,932, 931
5,038, 300 2, 411,98212, 029, 289
5, 092, 939 2,410, 072!2, 054, 586
5, 212, 830 2,483,882J2,140, 008

42,309!
23,968!
42,100!
24,823|

596, 047! 2, 508, 605
573,06112,587,617
586,18112,612,648
564,11712,642,263

4,441, 538
4, 616, 906
4,667,234
4, 782, 271

316,516 71,693!
310,885 68.414!
339,688 34; 196!
348,638j 67,714!

1.319
1,308
1,300
1,290

1928—Feb. 2 8 June 30..
Oct. 3 . . .
Dec. 3 1 . .

.
-!
.J
.J

4,849,212
5,117,598
5,137,348
5,162,585

3,462,236! 1,386,976
3,697,574 1,420,024
3,772,110| 1,365,238
3,812,187|1,350,398

542, 576 j
563, 600
559, 2991
535,597

844,400|
856,424'
805,939i
814,8011

318,925
341,938
335,282;
345,051;

713, 227
724,958
748,0661
755,061

5,120, 664 2, 380, 803J2,138,482
5,334, 624 2, 512,358 2, 275,300
5,350,410 2, 502, 605 2, 256, 640
5,458,419|2, 637, 746J2, 257,163

7, 795|
18,278
16,454
19,4211

593, 58412, 597, 111
528,68S!2,643,333
574, 71112,665,947
544,089 2, 680, 742

4, 735, 593
4,918, 633
4, 922, 587
4,937,905

335, 785; 63,815!
330,451 164,798j
344, 880 132,964!
343,073 163, 576|

1,274
1,264
1,260
1,252

1929—Mar. 27..
^
June 29..
Oct. 4 . . .
Dec. 3 1 . .

-i
J
..;
J

5,072,146
5,052,312
5,116,564
4,934,486

3,776, 730J1,295,416
3,792,1231,260,189
13,900,567 1,215,997
|3,770,1011,164,385

527, 261
512,036
490,151
408,055

768,155!
748,1531
725,846
756, 330J

258,538! 774,650| 5,134,952!2,445,84112,117, 596
327,786! 780,677! 5, 234, 017J2,535,149)2,147, 604i
323,468! 792,854 5, 281, 54112, 572, 529|2,148, 220
330,241! 790, 510 5,140, 01212, 521,829|2, 076,814

48,1J6:
38, 204
35, 864
18, 092

523, 399 2, 610. 579
513,060 2, 622, 659
524, 928 2, 688,038
523, 277 2, 575, 778

4, 728,175
4, 770, 263
4,836, 258
4, 652, 592

340,3391
345,481j
353,366
331, 335

201,0921
142,555!
146,8211
147,750|

1,237
1,229
1,206
1,186

4,836,531 13,645,785! 1,190,746
I 4,933,407 [3,682, 206! 1, 251,201
i 4,966, 505 |3,642,179J1,324,326
| 4, 809,422 13,405,95611,403,466
I!

466,433
474,851

724,313J
776,350
837,637
865,003

329,382! 796, 500
379,340 787,050
409,499 798,872
427,163 780,602

21,446
17,219
18,989
40,767

559, 796 2, 569,630
590,513 2,595,960
599,073 2,520, 233
590,637 2,491,270

4,644,046
4,753, 506
4, 752,854
4,626,268

344,344
347,273
335,532
361, 773

43,807
26,817
49,762
31,327

357,2151
375,695|
334.589!
341,102|

1, 941,527!l, 589,791
2,096, 774; 1, 645, 284
2,168.534!l, 678,438
2,238,495; 1, 732,371

i

1930—Mar. 2 7 June30._
Sept. 24..
Dec. 3 1 -

For footnotes, see p. 173.




538,463

5,029,77912,374,1212,074,1,416;
5,205, 262!2,439,984 2,157, I
5,193,191J2, 342,508 2,232*, 621
5,148, 216|2, 381,814 2,134, 998!

i

1

1,156
1,135
1,118
1,081

w
t—(

fed
a
W

3
S
o
3

No.

94,-—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL
[In thousands of dollars.

DATES, 1922-1030—Continued

ST. LOUIS DISTRICT
For back figures see Annual Report for 1927, Table 86]

Loans and investments
Investments

Total

Loans i
Total

U. S. | Other
securi- j securities
I ties

Capital.
surplus,
and
undivided
profits ^

i Due
I from
i banks

Total
i

posits*:

Time
deposits

iReserve;
NetRilIs
! United
,
Net
demand
payable! Numj S t a t e s I Due to
a n d
! b e r o f
plus
6 demand
j de- !
deposits
time
redis- ; banks
I posits
deposits
banks c o u n t s !

i

1922— Dec. 29.
1923—Apr. 3
June 30
Sept. 14
Dec. 31
1924—Mar. 3L.
June 30..
Oct. 10 _.
Dec. 3U1925- Apr. 6_._
J une 30..
Sept. 28_.
Dec. 31. .
1926—Apr. 12..
June 30. .
Dec. 3 1 - .
1927—Mar. 23..
June30_Oct. 10__
Dec. 31_.
1928—Feb. 2 8 . .
June 30_Oct. 3 - _ .
Dec. 31.1929— Mar. 27..
June 29..
Oct. 4 - . .
Dec, 3 1 . .
1930 Mar. 27 _
June 30.Sept. 24—
Dec. 31.-

162,548
168,454
171, 321
170. 074
175;997
180,507
320, 325
313, 647
183,200
310, 064
188,562
339, 008
205,577
890,838 355,303
206,599
877,430 350,219
220,450
929,520 351,323
220,506
950,498 359,097
222,904
971,770 360,154
139,267 220, 887
951,830 368,241
135,854 232,387
946.432 366,161; 119,929 246, 232
1,331,123 932,548 398,5751 146, 861 251,714!
1,336,751 930, 367 406,384! 148,543 257,841!
1,358,406 948, 412 409,994| 146,142 263, 8521
953, 365 423,166; 146, 241 276,9251
1,376,531
935,779 437,662! 154,298 283, 364
1,373,441
1,384,322 942,221 442, 101H 147, 651 294, 450
1,400,512 972,723 427, 78911 149, 654 278,135
954,105 451, 694; I 161,431 290,263
1,405,799
1,377,349 944,686 432,6631! 159, 269 273,394
1,341,452 93G, 071 404,781! 138, 777 26(5, 004
1, 375, 210 983, 720 391,490)! 128, 907 •262, 583
1,336,880 955.428 381, 452|I 114,777 266, 675
1,315, ISylj 929,387 385,802Jj 113,828 271,974
1,288,5771! 910,055 378,522,j 102,266 276,256
1,288, 578 I 899.433 389,1451 106, 049 283,096
1,153, 702 i 787.429 366,273!
94, 265 272, 008

| 1,118, 350|
J' 1,151,916(1
. 1,154,982
. 1,171,327
. 1,182,166
. 1,175,542
. 1,157,068
•
- 1,182,971
i
_! 1,223,248
. 1,246,141
. 1,227,649
J 1,280,843
-I 1,309,595
-I 1/331,924
. 1,320,071
-i 1,312,593 |
.I
.
-I
-j
-I




802,437
820,105
818,861
843,535
852, 844
855,217
843,421
872,907
884,240

315,913
331,811
336,121
327,792
329, 322

153, 365 j
163, 357]
164,800
157, 718
153, 3251
139,818
130, 447
121,502
133, 431
148,704
129,769
130, 817
136,193

!2,4201 190,9851 1,166, 601
110,407 j 192, 375 i 1,182, 334
90,164| 193, 7831 1,133, 448
197,612 1,124, 062
102,964 194,054j 1,181,238
87,826 196,445 1,152,961
117,085 197,101 1,175,581
139,485 199,528 1,243,101
153, 630 196,176| 1,343,832

616,833;
620,410|
597,800!
595,760j
622,4331

340,447!

362,1861
367,882 i
381,404
384, 646
408,703
600, 7761 407, 587
618,154! 423,605
676,122! 431,261
133,538 198,8301 1,319,398 660,267! 434,778
117,784 198,454! 1,272,211: 647,306! 441, 922
126,163 198,054i 1,303,544! 650,955: 452, 819
127,239 197,4561 1,387,086 717,570 452,196
114,311 203,567; 1,374,746 700,582l 479,134
110. 096 202,920! 1,343,4301 684,784! 476, 569
116,093 205,057! 1,358,840! 697, 613; 479, 590|
125, 568 207,018 1,381,426 668, 643| 513,973
111,535 205,417 1,358,778' 670,557| 509,282
121,761 210,769! 1,416,481 694,111) 521,318
129,113 209,206' 1,451,096 715,913| 525, 641
110,7261 208,310! 1,412,730 681,249 537, 775
105, 381 209,984| 1,367,318 660,201 543, 605
116,803 211,668 1,394,849 664, 964 544,774
118,481 212, 829| 1,441,124 711, 206 537, 601
92,185 211,913| 1,337,019: 641,17.11 533, 554
92, 388 202,977! 1,311,209 'J44, 882i 521,158
118, 827 208, 527! 1,360,607- (.55, 332 535, 751
113,421 208/614| 1,380,297 689, 686 520,903
104,699
121, T
124, 674
122, 559

208,750J
205,371!
206, 705|
187,928

1,329,386
1,324,788
1,303,356
1,210,785!

635, 273
639,427
611, 537
597, 571

537, U0t>
525, 763;
534,976
470,353

14,731 194,
13, 977; 185,761
14,196 153,570
3,823' 143,075
9,028 165,131;
9,417.
5,945.
8,208;
13, 823

148, 007!
161,273
193,134
222,626
197,472
175, 362
189,602
204, 730!

26, 881
7,621
10,168
12, 590;
16,123 178,907!
9,865. 172, 212
8,560 173, 077!
14,205' 184, 605:
6,981! 171,958!
13,980 187, 072
8,885! 200, 657
4, 370 189, 336
11, 359 152,153
5,517' 179, 594
7, 549 184, 768
5, 800= 153,490
11, 250 133,919
7,641 161,883
2,001 167, 707
(3,749! 15U,358
7,159! 152, 439
4,61Qi 152, 233
4,3931 138,468 ;

675, 376j

685, 6781
652,449
640,4751
663, 726!
638,255;
643,954j
664,836;
733,571;
720,347!
698,112|
708,163i
776,927;
751,311
740,5751
734, 044!
727,4711
723,990
748,984
775,833
747,982]
699,176!
712,637
756, 987

37, 073;

608

75,621! 34,084
68,782! 50,2201
65, 053| 70, 875 i
70, 058 63,914!
1, 046, 958! 68, 304 46, 967!
1,051,541' 63, 3761 31, 4601
1,088, 441 i 75, 346! 36, 232'
1,164,832; SO, 758 j 13, 912:

628
627
625
624

1,155,125!
1,140,034
1,160,982 j
1,229,123)

78,523;
73, 343 j
75,114;
81,912!

624
621
629
628

1,230,445 i
1,217,1441
1,213,634;
.,241,444!
,233,272!
,270,302!
.,301,4741

82, 611
76,904 i
S3,017[•

o

618
621
622
624

1, 015, 823!
1.047,8641
1,020,331!
1,021, 879!
1,048, 3721

69. 732:

690,134
675,256
682,267;
723,267)

80,965;
77, 050!
81,813!
88, 517]
.,285,7571 82, 822!
.,242,781! 78, 552'
,257,411l 81,855*
,294, £88! 84,641
1,223,688! 78, 333
1.196,414! 75,096;
1,218,018 ; 78, 256!
1,244,170; SO, 055

680,0911
669,377
644, 669
616,2291

1,217,097 78,407;
1,195,140! 79,528!
1,179, 645! 74,418!
1,086,582! 69, 644 j

17,531
24,160
48,272
28, 786 j
30,631)
35,107!
35,985!
18, 8091
38,453!
20,272!
20, 877
28, 958|
64, 806)
70,1351
39, 363j
58. 460!
58; 758'
82,361;
31, 967'
18,986:
24,937
28,759;
20, 755;

622
619
602
599
596
594
593
593
590
587
585
580
572
571
562
552
549
513 •

w
%

MINNEAPOLIS DISTRICT
884,167

694,312

189,8551

102,217

87.6381] 13,987'

140,995

923,070!

400,397

390,583'

9,002

123,088

427,4211

818,004!

49,024

38, 226!

1.000

1923 Apr. 3 . . .
June 30.iSept. 14..
Dec. 3 1 . .

899,193
896,406
888, 949'
863, 307|

696,161
690, 681
684,105
655, 670

203, 032
205,725
204,844
207, 637

111,028
114,761
112,993
113, 498

92,004 108,539
90,964 97,236i
91,851i 97,195i
94,139; 105,461!

135,421
134,341
134,939
132,022

944,127| 393,011
916, 088! 392,112
913,062J 386,445
914,802! 387,722

408,234
416, 088;
417, 529:
413,
" 1 Q OOftl

9,6111
8, 394|
6,023
5,413|

133,271
99, 494
103, 065
107, 741

440, 539|
411, 603
409. 468
410,581

848,773!
827,691;
826,997!
824,507;

51,805>
46,937;
48,065;
46, 652J

31, 833
43.100
41, 838
26,978

989
977
940

1924—Mar. 31..
June 30..
Oct. 10 __
Dec. 31._

853,424;
824,333?
867, 582
906, 616'

639,177
610, 944
629, 480
630,474

214,247
213, 389 !
238,102 I
276,142

120, 890
116, 699
123,301:
143, 677'

93,357 i
96,690
114,8011
132,465J

106,3921
123,7071
157,181!
151, 229|

126, 691
913, 8531
123, 376
909,020!
125, 202 1, 005, 093!
125, 050 1,044, 751 j

386,117
395, 763
422,371
439, 041

404,271!
403, 578!
412,826i
430, 315!

9,521
5, 692!
6, 9031
6,321

113,944
103, 987
162, 993
169, 074

418,
404,
465.
502;

823, 028!
808,116!
878,497'
933,053

46,
47,
53,
55,

235J
410
559
513;

17, 702
18, 984
12,061
6,384

903
895
890
885

1925-Apr. 6 . . .
June 30__
Sept. 28_.
Dec. 31__

906, 691
888, 227
895,430
893,181

611,861
596, 898
599, 474
586,117

294,830
291,329
295, 956
307, 064

149, 018
140,961
140, 792
146,370

145,8121
150,368
155,164
160, 694|

122,753!
110,1901
112,913
127,243

122,137 1, 016,127!
120,444
988, 463
118,414
995, 743
116,395 1, 011, 569

424,
430,
426,
435,

363
509
358
382

441,834s
435, 2811
433,9061
437, 717!

8, 5621
5,188!
8,161
7,429

141,368
117, 485
127,318
131,041

471, 763
463,201
466,136
467,865

913,597: 54,1721
S98, 482; 54,175
900, 042 53, 789
905, 5821 52,192

5, 526!
7, 260
7, 652
4, 6391

872
859
848
829

3

1926—Apr. 12. _
June 30_.
Dec. 3 1 . .

889, 722
880, 562
861,998

575, 372
567, 763
554,196

314, 350 i
312. 799
307,802

147, 729: 166,621 104,869
142, 334 170, 465 101, 544
133,351: 174, 451 116, 230

983,324! 420,472
965, 833 419,864
962, 635 406, 037

9,499
6,009!
4, 667;

114, 389
104, 511
116, 034

450,935
444,447
432, 083

879,896!
867, 980!

53, 592
48, 457
50, 606

5, 6701
5, 226;
5,277;

817
804
764

w

1927—Mar. 23..
June 30..
Oct. 1 0 . .
Dec. 31. -

862,142
851, 382
881,950
896, 998

540, 495
531,054
552, 992
547,075

321,
320,
328,
349,

64711
328
958 i
923 !

134, 337!
129,820
131,275
137, 006

187,310 99,188
190, 508 105, 616
197, 683 140,198
212,917 127, 025|

113,260i'
938,043! 389,382
112, 3671
940, 303 i 401,123
115,882 1,016,515! 444, 405
115,323| 1,011, 277[ 428, 942|

438,964 j
435,449!
435,897!
!
430,377J
434, 987;
435,139;
451, 6071

7,272
5,6931
5, 4211
5, 7431

]ll,012J
98, 500
131, 550
124,985

855,903;
852, 570!
904,110!
911, 644!

50,
47,
51,
54,

717
781
261
217

6, 838:
5,066i
3,428
2, 654 j

743
740
742
735

1928—Feb. 28..
June 30_.
Oct. 3 . . .
Dec. 31..

904,
908,
927,
932,

662
660
986
852

544,
543,
557,
560,

744
940
522
043

359,918
364, 720
370, 464
372, 809 j

137,347
136, 480
146, 729f
146, 579:

222, 571
228, 240
223, 735
226, 230

114, 5591
110, 549j
121,438
116, 775

115,5081 l,001,684|
115, 966
996. 752j
116.592 1,037,2901
117; 9711 1,042,148 j

416,
427,
444,
443,

759!
884
512
805

460, 308!
461, 3631
468, 509
480,054

3,274!
5, 578!
4, 579;
5, 550;

121, 343
101,927
119, 690!
112,739!

425, 526|
417,583
468.971!
460', 0371
j
454, 430!
446, 544i
472, 2041
465, 402!

914,738
907,9071
940,713;
945, 456!

53,
53,
55,
55,

499
926
323
467

3,847!
8, 290i
13.951 i
5, 279

731
728
722
719

1929—Mar. 27..
June 29 __
Oct. 4
Dec. 31. _
1930 M a r . 2 7 June 30..
Sept. 24...
Dec. 3 1 . .

937,
922,
957,
910,

754
693
073
924

563,
558,
597,
563,

858
567
307
0241

373, 896
364,126 i
359, 766 I
347,900 I

149,447
147,348
141,868
134,771

224,449
216, 778
217,898
213,129

88,927
102,036
108.813
105,999

117, 676!
996, 573
116, 316|
994,146
119, 666 j 1,010,088
119,8711
995,051

470,838
470,4251
458, 620!
457,9321

6,903!
7, 379!
5, 790!
1,967|

102,679J
89,813!
104,002!
102, 597 j-

451, 6011
438, 587!
457,337 j
453,015!

922,439!
909, 012!
915, 957:
910,947!

54,923
50, 219
50,044
56,998

15.101 i
12, 330;
39, 816!
12, 253!

130,824
134, 289
130, 712
122, 434

216,925
220,052 i
227,075
234,169

97,257
131,558
141,755
142,016

119,366!
118,417
120. 209;
117, 727 i

416,153
426, 529
441,676
432,555|
!
404,277
424,017
417, 526!
401, 002

456,978!
449,190 j
455,760!
459, 853;

3, 404;
98, 703
2,400 101,779!
2, 239 106, 510!
2, 480 104, 972;
I

431,
426,
425,
397,

888, 708! 50,249
875,889;
881,440: 49,4331
857, 568j 48,364 j

712
700
689
683
671
664
657
642

1922—Dec. 29,

.

896,183
870, 411
872, 344
851,130

For footnotes, see p , 173.




548,4341 347,749
516, 070! 354, 341
514, 557 357, 787
494, 52" 356, 603

115, 870!
114, 627|
114, 625 j

963, 362
977,386
982,035
968, 307

i

i

757
538
671
738

730!
699J
680|
715!

2, 785:
4,641
4, 785,
4.868:

3

No.

94.—ALL

MEMBER

BANKS—PRINCIPAL

RESOURCES

AND LIABILITIES

ON CALL

DATES,

1922-1930-—Continued

KANSAS CITY DISTRICT
[In thousands of dollars.

For back figures see Annual Report for 1927, Table 86]
I

Loans and investments

Investments
Call date
Total

Loans

!

Total

1922—Dec. 29
1923—Apr. 3
June 30
Sept. 14
Dec. 31
1924—Mar. 31
June 30
Oct. 10
Dec. 31
1925—Apr. 6
June 30
Sept. 28
Dec. 31

1,115,378

866,655

1,133,839
1,145,159
1,127,800
1,096,091
1,056,702
1. 037, 719
1,057, 681
1,078,924

876, 757
886,108
872,614
849,063

1,115,184
1,114,620
1,135,728
1,131,484

822,704
799,805
795,133
800,838!

1926—Apr. 12.
June 30
Dec. 31

1,137,826
1,157,139
1,135,968

811,588!
804,929|
817, 277i
804,9481
794,2261
811,649
777,411

1927—Mar. 23
June 30
Oct. 10
Dec. 31
1928—Feb. 28
June 30
Oct. 3
Dec. 31.
1929—Mar. 27
June 29
Oct. 4
Dec. 31

1,159,449
1,153, 509
1,167,923
: 1,191,491

786,494
776,100
776,398!
783, 062J

1,196, 758
1,224,395
i 1,241,707
! 1,250,019

787,4191
788, 794)
806,155
802, 632

! 1,242,207
1,240,550
1,246,554
1,211,892
1,164,!
1,151, 266
1,160,338
1,147,050

799, 5031
810,223 j
822, 513
804,011!

1930—Mar. 27
Sept. 24..
Dec. 3K




768, 724:
749.875
741,322!
716, 688

248, 72311
257,082 i
259,05111
255,186!!
247,02811

U. S.
securities
148,269!

158, 559'
160, 367
157,510,
141,17l!
233,998 i' 135, 584;
237,914 ! 133,799
262, 548 ! 147,575'
278,086!| 149,747;
303, 5961 i
309,691M

318,45l!
326,536;!

173, 670
177,337!
181, 677|
198,072J
187, 698
182,962J

343,600!
345,490 !
358, 557;|
372,955 I 194,040!
377,409
183, 255!
391, 525
183, 435j
408,429
183, 534 j
409, 339 !
435,601 ;
435, 552j!
447,387!
442, 704,
430, 327!
424,041 ! I
407, 8811;
396,274!)
401,391 ! !
419,0161:
430,362,

Other
securities

Due
from
banks'

and
undivided
profits »

100,454 206,544
98, 523 202.278 i
98, 684 173,949
97, 676 172,014
105,857 179.835
98/414 168, 733
104,115! 201,079
114,973' 306,566
128,339; 313,260
133, 6981
136,021
141,1141
144,859!

240.836
231,461
197,240
229,406

145,528 188,641
157, 792 199,704
175,595 218,763
178,915| 199,661
194,1541 200,021
208,090 206,774
224,895 223,608

j
Demand! Time UnitedI
States Due to
Total
de! de- !
4
deposits posits ! posits * !

179,4371 1,288,845
1,309.043
1, 259,218
1,256,380
1,234,717
165,666 1,197, 704
162, 393 1,228,956 j
163,859 1,381,434
158,657 1, 441,426

751,291'
759.627;
736,154
735,072:
722,247'
694, 796.'
708,368j
745,421
779,782j

273,0401 12,542j
285, 648j 12,864
300,687!
9,209!
299, 566
6,652!
291,930!
6,764;
293,8501 8,404
6,504
298,607!
297, 288|
7,665
295,985!
6,538

251,972! 803,2041 1, 076, 244
823,9861 1,109,634
.
787,834! ", 088,521
786, 720 ,086,286
759, 435; , 051,365
200,654 745,699 , 039,549
215,477 747,807 , 046,414
331,060 812,291 , 109, 579
359,121 876,091 , 172,076

81,143

35,840

1,142

85,040
81,198!
82,152
76, 579|
74, 998!
78,241
86, 096;
93,892;

32,564
58,649
48.862
53, 396
24,914
22,815
10,232
6.256

1,145
1,145
1.142
1,122
1,098
1,087
1,082
1,066

159,361
159,643
158, HSi
154,037:
156,055
153, 771!
152,3891

1, 387,051
1. 384, 705
1, 364, 381
1,408, 528

772,474 j
793,938!
795, 356i
836, 7321
794, 59oi
818,4301
822, 221!

305,237!
312,102
309, 748i
294, 962!

13,561
7,120
7,965
8,330

295, 779
271,5451
251,312
268,504

89,453!
91,446!
87, 775!
92,986;

6, 959i
8, 753!
10,896
16,858;

1,056
1,048
1,038
1,027

315,685|
323,494
317,771!

222,969
238,223
255, 665

800,740!
819,882!
815,969]
837, 111

330, 719!
331,110!
340,449!
338,815|

246,420
235, 9741
240,756
271,694|

872,9601
868,642!
869,300
907,363

814,687|
826,745 j
846,154)
866,873!

355,4641
372,402!
374,313!
364, 5991

828,825J
826,186j
824,185:
836,911*

372,
372,
370,
350,

83, 990 20,000
88,973 16,503
86,1021 7,387!
,203, 679 89,173; 11, 579
, 199, 752 90. 771 i 11,892
, 209, 749 86,813; 14,757
, 246,178; 95, 3361 10, 292
,240,934! 92, 1381 9, 773
, 258, 592! 94,149! 19,468
, 281, l«5i 94,2861 20, 613
, 281, 292j 90,950! 22,443
, 251, 4161 92, 6211 22,953
,236,168! 90,758: 39,240
,239,9871 90,027! 45, 382
,224,012! 87, 748i 34,690
,191,974! 88,980 12,958|
. 203, 005! 91 731; 12,80tij
,
, 207, 781': 87,649!
9, 345!
,173,834! S8, 29S! 16, 455!

1,017
1,011
992

156,146!
155,302!
158,872!
156,841!

15,808
11, 509
7,856
10,033
7,038
9,844
8,718|

868,714 ,173,951
863,783 , 175,885
871, 428 , 181,176
891,887 : 186,849
,
845,448 , 161.133
871,245 , 194, 739
874, 880 , 192,651

174.377!
172, 90S!
173,860!
165,727!

1. 349, 052
1, 391, 656
1,403,513

220,320
241,643
206,458! 229,094
212,331| 235,056

217,308
194,403
220,264
224,876j

158,370
157,315;
161, 046!
160,297;

1,387,912
1,394,004
1,407,018!
1,456,3381
1,447, 630!
1,438,933!
1,496,063 j
1,505,060;

214, 282;
202,027!
198,413 !
180,676

228,422
228,300
225,628
227, 205

185,640J
186,1151
195,334i
209, 416

163, 738!
160, 730
163,646
162,374

1,438, 225J
1,420,108
1,439,112!
l,428,618i

174,125;
172,654
173,047
172,848:

222,149
228,737
245,969
257,514

203,621! 166,347
253,877! 164,616
285,269 167,780
232,075 165,065

189,019|

Reserve; Bills
with payable, N u m Net
I demand
Feddemand j plus
and ! ber of
eral redeposits | time
redis- ! banks
serve
! deposits
banks counts

1,373,117 785,830^
1,413,945! 804,008i
1,446,613
1,384,900 781;623:

899!
520!
918!
359|

364, 428!
377,995!
398,0471
372,1251

250,904
213,168
215,090
213, 776

272, 260! 885,470
231, 255!
,
267,859 i
263, 662! 906, 882
916,693
9,137 227, 3641 878, 517|
8,062 213, 340! 863, 6481
6,692 237, 317 < 869, 009 i
3,179 238,169! 873, 653|
5,255! 217,604: 827,546 j
4, 550 227,392 825,0101
4,885 254, 7781 809, 735!
4, 306i 226, 846; 801,709
5,219
8,531
7,737
9,926

i

984
972
972
968
91
6
945
91
4
932
919
912
902
893

o
n

w

H
w
<
I
W
O
j
>

DALLAS DISTRICT
1922—Dec. 29

749,295 | 609,481! 139, S14j| 111, 502|

28,312 130, 690J

161,749

816,2161 553,220

1923-Apr. 3_._
June 30..
Sept. 14..
Dec. 31..

769, 406
745,119
780, 557
810,155

619,939
601,128
636, 701
648.797

149,467!
143,991 ii
143,8561|
161,358! i

123, 063
117,288
112,706
126,154 j

26,404 108, 337!
26,703 81,491!
31,150 129,188!
35,204 162,898|

157,933
158, 084
159, 606
155,715

798,955!
719,951!
818,915
947,461

1924—Mar. 31..
June 30..
Oct. 10._
Dec. 31 _.

776,846
732,301
765,113
789,329

628,944
596, 881
625,135
645,115

147,902;!
135,420; j
139,978:
144,214i!

114,436
103,975
101, 834
100,578

33,466
31, 445
38,144
43, 636]

119, 535J
105,145j
198,3611
214,390|

157,950|
836,043| 555,706
156,502|
768,294 517,041
159,418|
931,7251 590,447!
153,452! 1,004,243 637,826

1925- -Apr. 6 . . .
.Tune 30..
Sept. 28..
Dec. 31..

812,534
790,668
821,844
830,918

650, 719
637,954!
664,1451
667,782J

161,8151
152,714 !
157, 699 :j
163,136

120,2841
112, 608!
113,439!
114, 026]

41,531
40,106
44,260
49,110

179, 81l| 160,130
133,823; 159,968
163,817! 161,567
152,668! 156, 760

1926—Apr. 12..
June 30..
Dec. 31..

831,859
667,758
807, 697 | 649, 757
807,291 I 651,583

164, lOl!
157, 940
155,708;

119,757]
113, 323|
105,1451

44, 344 135, 3431 165,120
44, 617 121, 089 162,495
50,563 146,403 j 158,562

1927- -Mar. 23..
June 30..
Oct. 10...
Dec. 31,.

841, 697 ! 668, 338
830, 856 I 654, 072
876, 888
688,449
898,228
694, 344

173,
176,
188,
203,

359!
784
439
884

123, 319'
121, 634!
126,4391
131, 898;

50, 040
55,150
62, 000
71,""

1928—Feb. 28..
June30__
Oct. 3___
Dec. 31. _

904, 469
915, 653
960, 054|
993,420

701,202
691,939'
725,4851
736, 396|

203,267
223, 714
234,569
257,024]

136,835!
149,822!
156,541!
173,509|

1929— Mar. 27..
June 29..
Oct. 4 . . .
Dec. 31..

999,532
956,940
987,088
936,158

730,030;
705,445
748,767
713, 786;
)
907,193! 637,836J
869,702 ! | 652, 873!
868,089;! 64«, 457!
822,436 ! 600,957j

269,502
251,495
238,321
222, 372

1930—Mar. 27...
June 30..
Sept. 24Dec.31..

127,888

573,351

693,811

54,457

20,000

855

133,776} 20,228 j 106, 312
136, 750!
8,2781 74, 616
5, 886! 125,294
137,250
143,250 12,182! 168, 301

557,673
505,926'
562,566
659,117

691,4491 51,077
642, 676 48, 288|
699,816 52, 759
802,367 60, 602

26, 335
47,065
54,754
12,121

857
858
849

149,971
152,454
154,713
150,856

13,192!
6,452
9,084
6,332

578,018
524,251
683,038

727,989 52,319
676,705 49,293
762,804 55, 895
833,894] 65,70S

16,782
24,316
15,168
6,094

835
837
838
828

616,774
588,053
612,231:
649, 6721

163,632
167,305
164, 640
158, 382

16,230 j 169,977
8, 598! 119, 086
13,917i 160, 721
14, 0651 158, 415

658,243^
601,105!
642,249!
680, 728!

821, 875J 62,061
768, 4101 57,174
806,889 59,010
839,110 66, 062

824
847
854
852

929,1711 623,1121
871,479 590, 3351
940,370 631,3821

169,465
163,897
160,377

12, 496J
7, 372
8,57l!

124,098
109,875
140,040

636,496!
599,0641
641,913

58,172
57,342
64,423

624, 466J 175, 663
608,564! 180,830
663, 643! 182, 373
699,1611 184,032

15, 049!
10,972 i
15, 8231
13,789'

133,167
117,828
162, 654
171,034

647,887 j
623,023
689,9881
732,147j

805,961!
762,961 j
802,290|
!
823.550j
803, 853
872, 361
916,179

3,721]
12, 684!
15,926
5,878[
!
12,220
25, 359
9,721

62, 783
62, 028
65,538
73,133

7,829
11,513
8, 725
1,404

817
815
816
799

143,994
120,054
161,9821
166,314

712,409
665,916
721,625
762,961

907,6361
878,752!
936,290!
985, 867|

67,861
65,532
68,974
73, 685

4,156
11,480
29,910
11, 648J

791
787
780

966, 613!
883,042
951,509
980,534

538, 639
500,307;
550,485 l
623,728:

162, 710
948, 3451
918,194j
161, 355!
165,245 1,024,493
160,040 1,068,016

66, 432
73,892
78,028
83,515

143, 791!
130, 524|
168,244!
170, 7321
I
152,3111
129,968!
161,291'
165, 301

163,2571
163,982]
166,562
162, 510|

1,027,194 683,85l|
1,005,100 654,947|
1,081,380! 695,270!
1,154,849j 743, 439 j

190,314
169,494
153,066
131, 631

79,188
82,001
85, 255
90, 741

129,928
118,279
148, 091
148,127

172,087
173,588
176, 344
171, 564

1,084,798|
1,012,170!
1,073,331
1,048,407

219, 35711 137, 074
216,919! 127, 337
218. fU2
129,200
218,
221,479j 117,699

82,283
89, 582
89,432
103,780

141,676
169, 743
190,488
184,127

172,495',
171,5561
173,816!
165,944!

994,946
982,415
992,951
961,727

120,460|

14,648

195,227 s 4,122!
212, 836! 17,2631
214, 6651 9,463!
222,906| 22,190|

117,174
92,34'
177,481
209,179

i

850
843
827

700,8061 236, 512
653,847! 237,444
680,780! 231,867!
677,733 224,511;

26, 324j
19,902
22,154i
11,150

121,156
100,977
138, 530
135,013

711,313
652,702
701,941
675, 238

947,825!
890,146|
933,808!
899, 749

69,381
63,680
65,999
65, 016

13, 093
19, 658
34,666
16, 502

19,220i
14,654!
20,463
13,574

115,721
115,620
142,805
143,410|

630,952
609,685!
599,023!
573,978

864,950
850,892
834, 788
•807,586

65, 343
59,744
62, 594
58,104

7,815
13, 202
17,879
5,958

722
719
716
684

o

765
766
761
746

233,998
241,207
235,765
233,608 !

W

626, 007
610,934
593,913
573,135i

1

$
a

For footnotes, see p . 173.




00

No. 94.-

-ALL

MEMBER

BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES,

1922-1930—Continued

00

SAN FRANCISCO DISTRICT
[In thousands of dollars.

to

For back figures see Annual Report for 1927, Table 86]

is and investments
Investments
Call date
Loans l

Total

1922—Dec. 29
1923-Apr. 3
June 30
Sept. 14
Dee. 31
1924—Mar. 31.
June 30.
Oct. 10..
Dec. 31
1925—Apr. 6 . . .
June 30..
Sept. 2 8 . .
Dec. 3 1 . .
1926—Apr. 1 2 . .
June 30..
Dec. 3 1 . .
1927—Mar. 23_.
June 30..
Oct. 10.
Dec. 3 1 . 1928—Feb. 28. _
June 30..
Oct. 3 . . .
Dec. 3 1 . _
iy29—Mar. 27_.
Jun.e29_.
Oct. 4 . . .
Dec. 3 1 - .
1930 —Mar. 2 7 . .
J u n o 30. .
Sept. 24_.
Dec. 3 1 . -

*> T o t a l

2. 127 f 852| 1,554, 357

573,495

2. -Jr»2. 529
2, : m , 250
2,1:91,651
2,247,952

601, 283
591, 521
559,933 I
561, 777: j
577, 677
574,692
627,084]
677,060,
692, 398 !J
697,219!
721,400^
731,714J|

ll, *i(>l, 246
11,7:19, 729
'1,731,7181
1,686,175

2, 317, 292 11,739,015'
2,290,222 1,721,530
2, 355, 433 1, 728, 349
2,444,038 1, 766,978;
2, 507, 708: 1,815,310
2, 545,159! 1,847,940
2, 607, 7811 1,886,381;
2, 668, 572 1.936, 858!
2, 677, 238; 1,939, 856! 737, 382;
2, 687, 5S3i 1,951,713 735,870!
2,842,494 2,066, 559! 775,935
2, 938, 375! 2, US, 265) 820,110
S,
2, 960, 5111 2,133, 903 826,608 I
2,987, 1691 2,123, 6721 863,497
3, 083, 880| 2,140,842j 943,038
3,064, 10l! 2,079,156; 984, 945
3,149, 081 i 2,143,756| 1, 005, 325
3, 200, 375! 2,165,34011, 035,035
3,168, 538 2,108,74311, 059, 795
3,113, 045 2,070,615 1, 042, 430
3,105, 42.' 2,098,71511, 006, 710
3, 132. (397 2,191,79l! 940, 906
3,192, 234 2,239,1181 953,116
3, J20, 6111 2, 146,7731 979, 846
3, 109, 4;j,6| 2, 108, S62! 1, 000, 574
3, 115, 61J 2, 123,875! 991, 736
3,246,320 2,217,84811, 028,472

For footnotes, see p. 173.




U. S.
securities
309,218
333,722
319, 410
301,289
289, 266
302, 675
298,587j
336,531
361, 300!
372, 486!
374,161;
390,497!
386, 3951
383, 784 i
377,996J
367,400J
400,119
406,685
430,249
486,094
521,495
515,092
535, 558
574,015
580, 376
539,054
513, 475
495, 447
522, 424
508,40a
494.299
467,007

Other
securities

Due surplus,
from :
banks 2 i undivided
! profits 3

Total

deposits

Net
deposits s

posits

264,277 209,604! 301,2381 2,314,4361,134,216 930,404 25,426
267,561: 198,523! 298,6071 2,417,146 1,172,488 1,009, 967 28,214
272,111 186, 813! 299,104 2,467, 693 1,236, 709 1,007,863 27, 270
2,451,5911,243,492 ~ ~
~
"
258,644 210,971! 304,972, ^,'iui, uaij-^injitJA 980,426 " 13, 313
272,511 206,645! 292,9191 2,488, 541 1,237, 580 1, 032, 364 22,007
1,279 1 024,132' 25, 643
1,
275, 002 189, 796' 313,857' 2,485,894,1, 239,
I,
L,
276,105 213,363 312, 6441 2,530,478,1, 209, 388 1 093, 320! 12,243
290,553 321, 506; 323,4601 2,710,6511, 266, 2411; 122,197} 29,017
L,
I,
1,
315, 760 274, 380 318, 247j 2, 789,156J1, 289, 381 L 202, 9111 18,441
.,
319,912 226,571! 320, 789; 2,760,630|l, 249, 785 1, 246,185| 29, 749
323,058 223,855' 321, 8131 2,804,68211, 268,694 1,286, 613j 12, 225
" I,
330,903 240,799; 324, 4411 2, 851, 55911, 2 6 9 /390 "., 307, 324 26,407
P
345,319 246,305! 319,792 3,006,607 1, 366,8 •6 1 342,867 34,005
.,
353,598 226,665! 320,376! 2,944,97411 300, 755 1 367,987 34, 676
357,874 232,588! 324,646! 2,977,76111. 302, 567 I] 392, 22o! 20,908
408,535 245,121 j 337,894! 3,169,415 I! 379,68] , 482,196 20, 636
419,991 210,075 352,6941 3,157,199 1, 296, 034 1,,574, 727 43,816
419,923 230,367 352, 233! 3, 236, 603 1 359,714 ',584. 708 29,325
433,248; 245,597 365, 257 \ 259, 281 ' 378,160 1,. 582,871 35, 729
456,944; 264,224 368,477| 3, 398, 959 1,431, 619; l\ 652,980 28, 478;
463, 450; 237,807 360,0211 3,266,186 1 375,6021 , 619,138! 10,356
490, 233i 232,181 410,852 3,411,761 1 394,250-1. ,711,891! 53,130'
499,477 i253,477 417, 606 3,411, 204 1. 440,865! 1.. 688,837! 21,183!
485, 780 258,486 409,169 3,454, 61111. 453,096 ili , 695,404 51,916;

banks'
banks

deposits

Reserve Hills
i demand
j payable) Numplus
and
ber of
eral re- redistime
banks
deposits : serve counts
I banks

224,3901,150,211 2,080,615
206,4771, 181, 769, 2.191, 736
195,851 1,
241,877 2,249, 740
214,360 1,
244, 013 2, 224,439
196, 590 1,223, 234 2,255, 598
196,840 1,
242,162! 2,266, 294,
215,527!1, 217, 75l! 2,311,071
293,1961, 294, 598J 2,416, 795
278,423:1, 309,245 2, 512,156}
234,911 1,
267, 396 2,513,58l|
237,1501, 276,64.2! 2, 563, 255
248,438 !l,298,8841 2, 606, 208
262,859;!, 365,162 2, 708,029j
241, 556! 1, 320,467 2, 688,454
262. 06111, 327, 266! 2, 719. 491
286J902J1, 391, 564! 2, 873, 760
242,622; 1, 311,191 2,885,918J
262, 856ll, 372,8101 2,957, 5181
262, 521 !l, 400,997' 2,983,8681
285,882| 1, 449,3211 3,102,3011
261,0901, 394, 392! 3,013,530
252,490 1, 420, 7331 3,132,624
260,319 1, 440,113 1 3,128,950|
254,1951, 419,429 3,114,833?
462,0541 222, 817 424,328: 3, 247, 658|l. 329,832 1. 657,806 33, 982- 226, 038!l, 330,197! 2,988,003!
467, 656 252, 551 432,876: 3,316,75011, 316,308 1, 709,9931 41, 570! 248,87911, 310, 842! 3,020,835!
427, 431 227,817 434,960! 3, 239,431 ll, 351,441iL 635, 920| 28, 942| 223,128 !l, 341,126! 2, 977,046
457,669| 315, 369 440, 929! 3,537,14711. 434,7991; 790,471; 21, 625 290.252J1, 380, 9351 3,171, 406|
457,4221 233, 026 445, 29s! 3,283. 515|l 241,738 a , 739, 074 30, 394 272, 259 1, 286, 289i 3, 025. 363
492,1711 319, 718 443, 075! 3, 420, 23011 268,81211. 764, 635 22,195 364, 588 1, 321, 678; 3, 086, 313
497,437 511,516 447, 818! 3, 347, 695 1. 229, ]66|1., 739, 916 14, 924 363, 689 1,291, 084] 3, 031, 000
561,465 325,462 443,0331 3, 593, 350 1, 300,6411, 933, 428 30, 570 328, 7111, 303, 852j 3, 237, 280

47,290
66,497
82,929
93,687
47, 395
142,176J 59,027!
145, 385! 33, 220
158,081i 17, 700
164, 529' 18,818
153,194! 28, 613
154, 521' 39,5111
156, 641 57, 972|
168,461 26,959

135, 731
140, 735
145,844
147, 212
145, 714],

156, 830|
162,902!
167,180]
176,406
164,024
167,490
188,083!
171, 724!
180, 625!
183,393
182, 5561

46,473!
38,139
41,969
58,287
40,650
51,974
7, 111;
57,1001
19,416
77,099;
38, 973;

173,713!
170,193:
176, 050
175,681
178,314
191, 479
169, 291:
182,435!

76, 372^
42,284!
105,153;
43, 974!
13,842i
11, 653;
10,126
18, 724

820

g

806
803
804
802
785
776
774
749
751
749
740
724
725
721
682
672
669
658
649
641
644
627
618
617
616
607
601
599
592
581

2

183

ALL MEMBER BANKS IN EACH DISTRICT

No. 95.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY MONTHS

[Average of daily figures. In millions of dollars]
Net demand
deposits

New York district

Boston district
January...
February.
March
April
May
June
July
August
September
October. __
November.
December-

2,345
2,297
2,295
2,332
2,312
2,329
2,370
2,348
2,359
2,382
2,397
2,308

1,394
1,342
1,334
1,363
1,312
1,340
1,366
1,335
1,334
1,353
1,385
1,295

951
956
961
970
970
988
1,004
1,014
1,025
1,029
1,013
1,013

Cleveland district
January...
February..
March
April
May
June
July
August
September
October.. _
November
December.

3,096
3,107
3,141
3,174
3,184
3,233
3,299
3,318
3,333
3,263
3,222
3,167

1,473
1,471
1,486
1,509
1,520
1,563
1,616
1,617
1,612
1,556
1,524
1,497

1,623
1,636
1,656
1,666
1,663
1,670
1,683
1,701
1,720
1, 707
1,698
1, 670

4,588
4,543
4,618
4,679
4,696
4,713
4,806
4,773
4,765
4,721
4,723
4,656

2,535
2,494
2,553
2,604
2,604
2,599
2,590
2,574
2,543
2,506
2,521
2,497

2,053
2,049
2.065
2,076
2,092
2,114
2,216
2,200
2,221
2,214
2,202
2,159

Kansas City district
JanuaryFebruary.
March
April
_
May
June
July
August
September
October...
November.
December.

1,204
1,192
1,204
1,193
1,197
1,189
1,207
1,200
1,211
1,203
1,185
1,164

850
833
842
831
829
821
829
823
817
820
802
786

10,321
10,031
10,212
10,421
10, 523
10, 758
10,691
10,695
10, 687
10,853
11,012
10,708

7,080
6,821
6,912
7,067
7,134
7,305
7,247
7,262
7,241
7,344
7,535
7,478

3,241
3,210
3,300
3,355
3,389
3,454
3,444
3,434
3,446
3,509
3,477
3,231

Richmond district
1,131
1,123
1,096
1,098
1,091
1,083
1,084
1,090
1,096
1,098
1,097
1,057

569
559
546
543
535
524
526
528
530
531
533
517

562
564
550
554
556
559
558
562
566
567
564
540

St. Louis district

Chicago district
January...
February.
March
April
May
June
July
August
September
October...
November.
December.

l
Netdie-

Ti m e
ri

354
359
361
362
368
369
378
376
394
383
383
377

1,236
1,213
1,217
1,220
1,208
1,189
1,193
1,191
1,186
1,171
1,130
1,070

699
682
681
685
676
668
659
653
649
635
614
595

659
655
640
630
623
603
592
579
593
593
589
575

Philadelphia district
2,225
2,227
2,241
2,259
2,258
2,293
2,321
2,338
2,343
2,358
2,355
2,357

1,145
1,130
1,136
1,147
1,137
1,164
1,175
1,177
1,176
1,173
1,159
1,178

Atlanta district
1,004
571
1,
018
575
1,013
570
1,004 i 564
1,000
550
966
519
954
513
943
504
952
511
949
511
947
512
913
499

537
531
536
535
532
521
533
538
537
536
516
476

879
880
889
884
874
882
867
860
871
884
891
878

433
423
434
428
423
433
420
413
423
428
432
415




13

434
443
443
440
450
447
440
439
441
438
435
414

446
457
455
455
451
449
447
448
449
456
459

San Francisco district
225
233
229
237
241
244
241
241
238
238
239
235

3,067
3,012
2,997
3,027
3,019
3,023
3,039
3,003
3,011
3,014
3,226
3,227

1,312 j 1,756
1,735
1,277
1,740
1,257
1,744
1,283
1,750
1,269
1,748
1,274
1,753
1,287
1,722
1,281
1,733
1,278
1,738
1,276
1,874
1,352
1,898
1,329

Back figures.—See Annual Reports for 1929 (Table 89), 1928 (Table 93), and 1927 (Table 87).

3345^-31

1,080
1,097
1,106
1,112
1,121
1,129
1,145
1,161
1,167
1,185
1,196
1,179

Minneapolis district

Dallas district
885
888
869
867
865
847
833
820
830
831
828
810

mand Net de- Time
' plus
mand
i time deposits deposits
jdeposits

184

ANNUAL REPORT OF THE FEDERAL RESERVE

No. 96.—ALL MEMBER BANKS—RESERVE

BOARD

BALANCES, BY MONTHS, 1927-193D

[Monthly averages of daily figures. In millions of dollars]
Federal Reserve District
Month

New PhilaRichBoston York del- Cleve-!i mond Atlanta
phia land

1927
January
__. 146.1
February
144.5
March
144.1
April
145.6

838.3
856.6
863.3

139.0
136.7
136.9
137.4

178.6
179.9
185.7
184.7

May.
June—
July
August. _____

146.2
147.9
151.1
150.2

875. 3
913.3
894.8
880. 9

136.1
135. 8
136.4
136.8

September
151.0
October
.___ 155.0
November
157.4
155.1
December

888.7
895.9
922.5
944.9

155.9 957.9
151.0 924.4
.
I 151.2 931.6
! 156.3 955.5

i
i
!
!

I

Chicago

MinSt.
Louis neapolis

KanSan
sas Dallas Fran*
City

70.1
69.4
68.9
68.3

70.5
69.8
69.5
69.4

324.6
324.6
325.1
328.0

81.4
81.2
81.4
81.6

50.6
49.2
50.3
48.9

$9.1

185.2
187.2
187.1
189.3

68.8
69.5
71.6
72.0

68.4
67.1
66.7
65.6

335.1
334.5
333.9
341.2

81.1
80.8
81.0
80.0

47.7
48.5
49.1
48.3

138.6
139.4
139.8
138.7

187.4
187.4
188.5
186.3

72.1
71.8
74.1
73.5

67.6
68.5
68.6
69.3

339.7
343.0
342.5
347.2

80.1
82.5
85.3
86.3

141.7
138.5
138.6
139.3

188.9 i 73.8
188.1 | 72.4
186. 0 70. 6
186.7

70.7
70.0
69.4
69.1

352.1
345.8
345.7
348.1

138.5
136.2
134.7
132.0

188.7
185.9
186.8
185.8

69.0
68.5
67.2
66.2

68.3
66.6
64.7
63.7

149.6 883. 2 134.9
_ 152. 5 889. 7 134.8
152.0 I 903.4 134.4
148.6 I 923.4 134.5

190.3
187.8
185.4
183.4

67.6
68.3
69.1
69.6

137. 2
133.5
133.4
133.2

187.0
185.7
185.6
183.4

141.9 I 914.7
142.4 931.9
! 147.6 930.9
146.2 919.9

September
October
November
December

1.0

60.7
62.4
62.2
60.9

168.1
167.1
169.7
171.3

87.4
87.2
88.8
89.9

59.7
58.5
58.8
58.3

171.3
170.5
169.6
170.5

51.0
54.0
56.3
55.2

88.9
88.8
91.0
91.3

61.7
64.8
67.7
69.0

173.8
174.9
179.3
182.3

86.1
85.0
82.8
82.5

53.3
53.1
53.9
52.4

92.1
92.4
92.4
91.9

68. S
69.3
67.1
65.4

185.2
178.2
175.8
179.5

353.2
352.0
351.0
344.8

82.3
80.3
79.7
78.5

51.6
52.9
52.0
50.7

90.6
90.3
91.7
92.4

64,9
64.1
63.7
62.5

180.3
182.5
179. &
178.2

62.7
63.4
64.8
67.5

352.3
353.3
354.0
353.0

80.1
80.5
81.5
83.4

53.0
55.1
56.1
55.1

92.8
92.5
93.0
93.0

65.5
68.9
71.4
72.2

182.4
185.2
187.3
183.2

69.7
68.6
67.6
67.2

67.2
67.6
67.7
66.2

354.3
352.8
346.5
341.6

84. 2 53.9
82. 9 52. 5
78. 7 53.1
77.8 51.6

93.9
91.9
91.8
89.2

71.8
70.7
70.0
66.8

180.7
176.0
173.1
171.7

133.8 184.1
134. 7 I 184. 2
135. 3 187. 2
134. 2 188. 5

65.6
65.5
65.7
65.4

64.5
63.4
61.9
60.2

340.8
341.0
347.2
352.7

76.6
75.9
77.0
76.7

50. 2 87.5
51.3 | 88.6
52.4 92.0
52.5 92.8

65.1
63.3
62.5
61.2

171.6
172.0
173.9
172.1

147. 5 930.5
151.1
154.1 1,107.7
150.1 999.6

134.6 187.1
134.7 I 185.5
133.8 182. 9
133. 5 180.1

64.5
64.9
64.8
65.4

61.1
62.4
61.5
62.6

351.2
356.6
353.6
342.7

76.7
78.1
78.7
79.3

53.3
53.2
53.4
53.3

91.2
90.2
89.7
89.0

62.8
65.8
65.2
64.4

174.1
174.7
175.8
175.2

1930
January
February..
March
April

149.9 956.6
145.3 930.1
144.6 944.0
147.1 952.8

133.8
133.1
134.7
135.5

182.2
182.9
185.2
188.0

66.2
65.4
64.2
63.9

64.5
64.4
65.0
65.4

337.0
332.5
340.1
345.8

79.3
78.0
77.7
78.6

51.3 I 88.7
50.5 | 87.1
51.8 88.3
51.3 87.8

63.1
63.6
63.2
61.7

176.7
172.4
171. a
172.3

May
June
July
August..

145.2 962.7 134.8
145.8 990.2 137.8
149.3 1,000.8 139.4
146.4
3 3 140.9

189.9
195.1
200.6
200.7

63.9
63.2
63.5
63.4

63.0
61.3
60.6
59.2

346.9
348.8
351.2
350.8

77.5
76.6
77.0
76.2

50.9
51.8
50.4
49.7

87.4
88.0
88.9
88.4

61.4
59.9
59.0
57.6

172. &
173.1
176. &
175. 7

141. 2 200. 8
146.8
149.1 1,008.3 141.1 196. 0
150.7 1,026.3 140. 5 191. 8
_ 144.5 1,031.6 140. 6 187.1

63.4
63.3
63.1
61.3

59,9 348.5
59.6 342.6
59.1 344.8
58.1 343.4

75.7
74.4
73.6
70.2

51.3
51.6
52.3
50.2

88.2
88.1
86.6
85.4

58.5
59.1
58.8
57.7

173.4
173.4
185.1
184.9

1928
January
February..
March
April
May
June
July..
August
September
October
November
December
1929
January
February
March
April
May
June
July..
August

September
October
November
December

153.6
149.3
149.9
147.1

150.5
146. 7
144. 3
144.1

946.8
925.9
902.4
872.0

936,. 3
928. 5
924.6
j 915. 2

Back figures.—See Annual Report for 1927 (Table 89).




185

ALL MEMBER BANKS IN EACH DISTRICT
No. 97.—ALL MEMBER BANKS—BORROWINGS * AT FEDERAL RESERVE
BY MONTHS, 1929 AND 1930
[Monthly averages of daily figures.

BANKS,

In millions of dollars]

Federal Reserve District
Mouth

New
I Boston York

1929
January
February
March
April

|
__j 60.4
_' 61.9
:
58.6
! 75.8
i
!
!
i

September
October.
November
December

58.5 I 142.7
55.8 • 165.9
51.7 210.6
63. 6 133. 4

37.4
37.8
48.1
51.8

93.8
90.9
84.0
79.7

i
i
;
|

58.1
56.6
57.5
59.6

73.4
65.9 i
69.0
75.1

48.7 j 18.1
49.9 I 15.2
55.8
17.4
67.2 21. 3

I
i
i
;

00.1
53.1
51.9
41.8

69.6 i 103. 9 |
57.6 ! 120. 2 I
59.1 \ 139.3
43.0 i 133.0

96.5 234.5
99.4 251.2
78.4 | 408.6
79.5 i 303.3

!
I
!
I
i

86. 7 1
84.7
77.3 i
92.8 j

79. 7

40. 7

109. S I
135.9 I
122.1 |
120.0 i

72.7
54. 7
47.1
30.9

!
!
I
I

| 34.4
| 41.2
i 28.6
! 17.4

72.8 |
53.3 i
31.1 !
25.7 I

30.8
22.2
16.8
16.0

31. 7 I
25.3 ;
21.6 ;
18.8 i

17.7
17.3
12.6
12.6

58.0
57.1
44.0
47.6

29.8 i
28.1 |
24.4 |
18.2 |

21.0
23.6
24.9
15.7

17.2

27.6 i 20.6 15.5 j 3.8

| 11. 6 |
] 8. 9 I
j 12. 3
' 17.3 I

32. 2 !
36. 7 i
42. 6 !
90.3

i
I
_|
i

20.6 |
19.2 |
14.8 i
18.6 ;
!
!
i
|

64.4
57.7
60.1
64.9

41.3
31.6
30.2
19.1

76.4
86.9
106.0
65.0

49.1
23.1
48.3
22.3
35. 3 j 30. 2
33. 7 j 43. 4
38.8
44.6
57.7
45. 9

j
!
|
I

55.0
75.8
85.0
79.3

I

53.7 J
50.5 !
36.7 i
28.3 |

23.9
23. 2
21.1
15. 6

Kan- !
I San
sas Dallas! FranCity i
j cisco

12.0 33.3
12.8 32.5
15. 6 31.8
19.3 38.8

111.8
70. 5
54. 3
53. 7

_

May
June
July
August

84.7 j 41.0
76.0 i 43.4
96.6 | 52.6

71. 3 230. 9 90. 6 ! 78.8
CO. 7 ' 160. 0
78. 7 j 95. 2
46.9 I 154.7 I 106.8 I 124.4
40.4 ! 188.3 80.2 1 98.4

May
June
July
August

1930
January
February
March
April

245. 9 i 73.1 i
216.3 j 85. 5 i
231.5 i 101.6 I
2C4.6 110.0 ;

Min-

Chicago

Rich- Atmond lanta

land

phia

87.4 i
63. 0 ;
35.2 !
22. 7 i

19.7
30.4 I 18.1
19.8 j 28.9 1 19. 0

21. 4

17.7 i
16. 7 i
14.0 I
13. 9

7.0
3.0
2.4
3.1

18.1 I 3.
16. 3 ! 4. 2

29. 9 ! 16. 5

15. 1

4.4 ;

28.1
13. 3
23.0
11.9
16. 2 I 8.3
12. 8 I 7.5
15.2
14.2
10.4
9.2

s
i
!
I

22.5
15.1
15.8.
13.1

8.7
11.8
10.2 i 10.6
11.5 [ 10.0
13. 9 ! 9.5

i

September
October
November
December

16.4 ' 14. 6 | 20. 0 I 28. 2 | 14. 4
17. 7 j 4. 1 j
8.8
17.5
25.0 i 18.9 I 24.8 ! 15.8 17.3 ! 4.3 i 10.3
19.6
27.1 i 21. 7 i 26. 6 I 18. 5 ! 17. 4! i 3. 8 I
14.0
27.5
37.9 I 33.1 I 30. 4 I 26. 4 i 14. 2
3. 9 ! 16.0

13.2
10.2
8.4
6.9

7.6
6.7
8.9

33.7

1
Includes small amounts of borrowing by intermediate credit banks, etc., see Table 97.
Backfigures.—BeeAnnual Reports for 1929 (Table 91) and 1927 (Tables 90 and 55).

No.

9 8 . — N U M B E R O F M E M B E R B A N K S D I S C O U N T I N G P A P E R AT F E D E R A L
RESERVE BANKS, BY FEDERAL RESERVE DISTRICTS, 1923-1930
District

1923

1924

1925

1926

Boston
New York
Philadelphia .
Cleveland

313 |
590 !
532 j
470 |

317
593
525
485

297
600
450

Richmond.
Atlanta
Chicago
St. Louis...

453 i
351 j
973 i

463
390
922
391

428
320
825
339

603
558
466
430
333
814
330

653
617 i
460 !

476
586
492
420

290
410
361
380

270
453
453
347

6,333 J

6,060

362 I
559 !
I

Minneapolis....
Kansas City...
Dallas
San Francisco..

5,183

5,343

1927

1928

1929

1930

261
602
552
430

265
623
562
421

306
651
594
475

280
658
613
459

300 I
746 J
309 |

386
315
685
292

384
352
708
338

345
311
656
343

275 !
377 |
318 j
316 !

224
381
296
268

249
417
359
280

234
447
375
270

i

4, 991
i
Back figures—See Annual Reports for 1922 (Table 48), 1919 (Table 39), 1916 (p. 93), and 1915 (p. 71)
Total..




4,869

4, 718

5,113

o / 9 9 . — A L L MEMBER BANKS—CLASSIFICATION OF LOANS AND INVESTMENTS ON CALL DATES

00

[In millions of dollars. For back figures see Annual Report for 1929 (Table 93)]

Federal reserve
district and date

Boston:
1929—Oct. 4_.
Dec. 3 1 . .
1930—Mar. 27..
June 30..
Sept. 24..
Dec. 3 1 New York:
1929—Oct. 4 . .
Dec. 3 1 . .
1930—Mar. 27..
June 30..
Sept. 24..
Dec. 3 1 Philadelphia:
1929—Oct. 4 . .
Dec. 3 1 . .
1930-Mar. 27..
June 30.
Sept 24__
Dec. 3 1 Cieveland:
1929—Oct. 4..
Dec. 31..
1930-Mar. 27..
June 30..
Sept. 24..
Dec. 31..
Richmond:
1929—Oct. 4..
Dec. 31.
1930-Mar. 27.
June 30.

Total
loans
and
investments

Total

Secured by
stocks
and
bonds

secured bystocks and
bonds
All
other

Total

Secured by
real estate

To I
brokers To
outside other
Farm
New
cus- j land
York tomers
City

Total

1,751
1,702
1,615
1,616
1,556
1,534

130
102
96
102
88
78

577
597
537
553
546
641

266
270
272
270
273
265

770
727
703
683
640
642

149
183
232
193
226
189

95
80
54
134

113
120
118
154

7,132
7,231
6,502
6,511
6,392
6,428

92
84
80
94
104
121

2,666
2,955
2,667
2,759
2,723
2,796

547
539
532
545
543
530

3,814
3,640
3,220
3,100
3,008
2,967

35
33
14
44

17
16
13
12

1,774
1, 750
1,697
1,716
1,672
1,654

100
81
78
89
78
60

583
607
592
615
601
609

208
216
224
226
227
228

2,255
2,296
2,209
2,216
2,153
2,182

79
74
69
78
65
57

785
852
809
824
826
851

22
17
17 |
18 i

231
253
223
228

20
25
22
27
26
27

11,763
12,316
11,783
12,385
12,093
12,023

309
328
208
200
172
288

2,755
2,687
2,671
2,713
2,737
2,733

51
65
52
49
27
56

3,498
3,455
3,454
3,479
3,530
3,419

34
49
35
31
28
43

()

1,299
1,278
1,223
1,204

25
18
19
24

(2)
(2)

2

(2)

24
19
17
29

5

(2)

n

12
11
13
2
()
15
19

920
920
850
835

Investments

Purchased paper

Otherwise
secured
and
Other
unsereal
cured
estate

9
14
15
14

2,634
2,561
2,571
2,592
2,583
2,511




Open-market loans

Loans to customers (exclusive of banks)

Loans to banks

Acceptances
payable
in United
States

Bills, ;
Street i Total
etc., pay- { C o m -loans 1 |
able in } mercial
foreign paper
countries

U. S.
Govern- Other
ment i securisecurities
ties

23
74

4
4
4
3
2
3

106
97
123
95
112
54

715
050
702
755
775
761

265
216
246
244
237
232

450
434
456
511
538
530

1,373
1,538
1,830
2,202
2,031
1,584

60
129
92
144
149
191

34
47
41
30
28
23

1,255
1,322
l,C09
1,959
1,795
1,311

2,950
3,220
3,241
3,471
3,497
3,724

236
343
417
405
367
494

1,714
1,877
1,824
2,066
2,130
2,230

870
833
789
772
752
744

64
44
84
64
115
57

2
1
3
1

42
25
43
15
49
16

865
828
837
884
923
966

217
193
160
196
196
219

648
635
647
688
727
747

468
465
460
460
467
486

897
877
838
823
764
758

129
65
130
88
118
37

57
101
70
86
14

1,080
1,046
1,080
1,143
1,230
1,156

429
406
444
448
515
446

640
636
695
715
711

50
52
51
51

598
580
541
521

45
36
59
28

37
23
43
13

309
303
295
316

132
124
124
131

177
179
171
185

i!
3j

2j
1

18
18
30
14
12
16

15 I

Sept. 24..
Dec. 3lII
Atlanta:
1929-~Oct. 4 . .
Dec. 3 1 1930—Mar. 27__
June 30. _
Sept. 24..
Dec. 3 1 Chicago:
1929—Oct. 4 . .
Dec. 3 1 . .
1930~Mar. 27—
June 30..
Sept. 24_.
Dec. 31-.
St. Louis:
1929—Oct. 4—
Dec. 3 1 1930—Mar. 27_.
June 30..
Sept. 24..
Dec. 31—
Minneapolis:
1929—Oct. 4
Dec. 3 1 . .
1930—Mar. 27—
June 30—
Sept. 24..
Dec. 3 1 . .
Kansas City:
1929—Oct. 4
Dec. 31
1930—Mar. 27..
June 30
Sept. 24_.
Dec. 31__
Dallas:
1929—Oct.
4Dec. 31_.
1930—Mar. 27._
June 30—
Sept. 24. _
Dec. 31 ._
San Francisco:
1929—Oct. 4 . .
Dec. 3 1 1980—Mar. 27..
June 30—
Sept. 24—
Dec. 3 1 . .

1,206
1,154
1,149
1,115
1,107
1,059
1,053

30
22 !
27 1

989

32
33
27 i

324
312

127 1
110

197
202

1
1

3
2
3
2
2
2

5
11
17
12
10
8

40
22
50
19
19
10

260
260
263
268
285
264

117
115
120 !
117
134
112

143
145
143
151
151
151

167
83
286
250
368
134

5
11
7
3
8
18

4
6
11
20
14
14

45
39
82
109
94
53

113
27
186
119
252
49

1,216
1,164
1,190
1,251
1,325
1,403

490
408
466
475
487
538

726
756
724
776
838
865

481
439
423
407
403
357

27
47
76
66
65
51

2
2
4

1
1
1
1
1

14
30
50
44
48
31

n

14
22
21
17
16

391
381
386
378
389
366

129
115
114
102
106
94

263
266
272
276
283
272

21
21
21
21
20
20

366
341
319
308
310
297

49
41
59
32
30
26 I—

1
1

18
24
30
21
23
21

30
17
27
11
7
4

360
348
348
354
358
357

142
135
131
134
131
122

218
213
217
220
227
234

21
22
22
21
21
22

23
22
21
22
22
23

548
533
501
500
481
485

55 1
45
64 1
41
60
26

1

1

26
27
33
29
33
22

28
17
29
11
26
3

424
408
396
402
419
430

198
181
174
173
173
173

226
227
222
229
246
258

118
127
106
111
108
115

17
17
18
18
18
17

24
23
21
22
23
24

510
482
462
458
462
416

68
58
70
26
23
17

1
1
1
1
1
1

10
16
13
8
10
10

44
20
41
13
10
2

238
222
219
217
218
221

153
132
137
127
129
118

85
90
82
90
89
104

442
480
445
439
432
472

112
110
108
107
108
115

503
537
531
525
524
607

914
950
857
857
821
882

101
65
135
84
159
75

17
13
13
9

19
26
39
42
42
37

61
20
69
18
88
16

941
953
979
1,000
991
1,028

513
495
522
508
494
467

427
458
457
492
497
561

14
13

233
233

18
17

51
51

508
486

33
17

810
796
746
725
704
678

23
18
16
18
15
14

168
165
154
162
154
150

24
23
24
25
25
27

58
58
54
53
53
51

537
532
498
467
457
437

49

24
28
28
23

3,640
3, 555
3,265 i
3,351 !
3,206
3,182 !

326
288
239
278
288
235

1,062
1,100
1,014
1,065
990
1,042

81
82
83
80
79
77

489
501
485
475
472
468

1,683
1,583
1,444
1, 453
1,377
1,360

926
883
831
810
796
708

33
35
27
32
28
22

281
283
251
245
237
213

28
27
27
26
26
21

103
99
103
100
102
95

7
6
6

542
515
483
475 [
475 '
461

11
9
8
9
7
6

113
115
107
111
113
114

30
28
28
26
25
24

19
24
18
19

748
735
683
681 1
658 !
667

12
8
9
7

144
150
130
129
126
130

3
2
6
6
6
4

108 i

(2)

3
4
5
4

11
1

824 1
801

7
(2)
(2)

22
16

19
17

K

24 i
24 i

(2)

i
!
i
|

i

1
2
1

37
71
33
32
20

!

5,117
4,934
4,837
4,933
4,967
4,809

93 j
132
95
81
69
90

(2)
(2)

1,375
1,337
1,315
1,289
1,289
1,153

31
26
23
33
38
28

(2)
(2)

957
912
896
870
872
851

7
7
6 1

67
57
49
61

10
9
10
10

(2)
(2)

28
24
20
28

(2)
(2)

13
24
28
19

(2)

(2)
1

8 |l

1
i
i

7
7

1,247
1,212
1,165
1,151
1,160
1,147 |

19
23
22
28
22
23

(2)

987 :
936
807
870
868 :
822

8
5
7
12
10
8

(2)
(2)

12
13
12
10
7
8 !

(2)
(2)

3,133
3,192
3,127
3,109
3,116 !
3,246 :




1

2)

3
4
4
5

1
1
1
2

4
4 ;
3 i
4 I

(2)
(2)

6
11
9
6

8

8
6
4
4

673
651
613
615
617
575

2,078
2,162
2,000
2,014
1,956
2,135

I
i
i
i
|l

9
8

84
60
86
71
59

i
i
i
!
i

Loans to brokers and dealers in securities in New York- City.

3

1

2

1
1
1

I
i
I

13
20
15

i
1

4
2
A

i
!
I
•

5
6
14
15
20 1
15 1

9
7

i Not available

00

188

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

CONDITION OF ALL MEMBER BANKS, BY STATES
No.

100.—ALL MEMBER BANKS—TOTAL LOANS AND INVESTMENTS, BY STATES

1928-1930
[In millions of dollars]
1928

1929

J u n e 30 Dec. 31 jM ar. 27 J u n e 29 Oct. 4 Dec. 31

1930

Mar. 27 June 30 Sept. 24 Dec. 31

U n i t e d StE,tes. 35, 061. 2 35, 683.9; '>:•, 393. 0i35, 711.0 35,913.8 35,934.0 35,055. 7 35, 655. 7135,472. 3 34, 859. 5
New E n g l a n d :
152.4:
146. 1
170.0
loi.l149.1!
144.7^
143.9'
147. 2
149. 0
Maine
71. oi
73. 4i
73.8
76. 3:
72. 6j
73.0i
76. 7
75. 3
73.2
New Hampshire.
68. 2
70. 7l
71.4
72.0i
70.5!
69.11
68. 31
67. 9
Vermont
69.7!
Massachusetts... 1, 738. 6| 1,680.31 1, 714. Oi , 741.6 1, 747.0! 1, 691. ll 1,703.0| 1,714.81 1,708.8
Rhode Island
335. 6
335. 0! 331. 81 325.2
328.5!
328.0!
325.2!
330.1
335. 5
320. t
315. 2'
305. o! 305. 9i
304. 8
296. 3
Connecticut
321.1
318. 71 323. 7,
Middle Atlantic9,7O8.o|lO,238.2 9, 981. 3j 426.0 10,444. eill, 004. 6! 10,494. 8jll, 075. 2;10,832.1
New York
"10,
1,528.41 1,548.6 1, 520. 3; 1, 549. 2 1,533.2 1,524.8! 1, £01. 5| 1,526.2] 1,471.8
New Jersey
Pennsylvan: a . . . | 3.693.0J 3, 651. f. 3, 728. 21 3, 742.1 3,778.71 3,705.1! 3,708.2 ! 3,799.81 3.868.1
East North Central: !
!
i
I
I
Ohio
j 1,946.3'j 1,949.01 1,993.6s 1,972.7 1,989.31 1,958.0! 1,946.2! 1,919.6] 1,929.6
422. 0) 436. 0! ' 433. 8! 438. 7
Indiana.
_-.
436.4?
436.2!
414.3
416. si
408.4
Illinois..-- 2, 762. 5J 2, 776. 2 2,656.3! 2,625.0 2,664.21 2,574.61 2,499. 7| 2,623."
,534.3! 1,459.8! 1,447.5
Michigan
_..; 1,459. 21 1,472.3 1,495. 7i 1,513.2 1,534.3! 1,459.8! 1,447.5! 1,432.
1
490. 2i
494. 6
489.0;
480.3! 491.4
Wisconsin
504. 5i
497. 4
West North Cer tral:
537. 5! 544. 2;
537. 9
535. 9
572. 41 535.4;
Minnesota
508. 4|
363. 8
350. 4!
3C9. 3: 361. 4
359. 4|
368. 6i
332. 6|
Iowa
874. 7!
903. 3
922. 2| 916. 4
870. 2! 855. 9!
830. 9!
Missouri
69. 7
71. 4
74.9
75.1
73.8|
73.0!
North Dakota...
67. 4|
68.8
68. 8i
68. 4j
South Dakota...
66.8|
70.9!
68. 7,
68.31
189. 81
194. li
189. 3!
193.4
183. 2\ 190. 8i
194. 91
Nebraska
202. 6J
209. Ol
204. 31 209.3
208. 01 209.7
186.3
Kansas
South Atlantic:
i
69.51
85.9
80. 2l
75.5!
82. 1
Delaware
83. 8:
312. 81 331. 1
308. 3;
321. 7j
313.0
321.1!
Maryland
District of CoI 130. 9| 133. 9j
126. 5|
lumbia
j 130. 41 129. 2J
Virginia
•, 392. 4! 397. 4! 133. 3; 391. 3| 390.1! 391. l!
West Virgi:n'a._.! 200. 2 200. 7 j 2C0.9 204. 6| 201. 5! 202. 0
North Carolina .1 227. 1 222. 2! 227. 4 214. 61 183. 0; 174. 2;
97.21
South Care Una J 121.4, 112. li 114. 6| 109. 7l 104. 2j
Georgia
J 266. 4! 260. 41 262. 51 256. 4 259.1 244. 8|
163. 9
164. 4
Florida
| 220. 4; 203. 1! 208. 9; 189. 6
East South Central: I
Kentucky
j 318. 5: 342. 2! 337. 3 336. 4 340. 4 328. 0
265. 3
296. 8
285.3
Tennessee
| 271. 6! 274. 51 200.2
221. 0|
211.1
Alabama.. _
J 218. 3! 231. 71 225. 5 223.7
80. lj
79. 2j
77. 61
76. 7}
79.5
Mississippi
78.5
I
West South Central:'
132. 9j
130. 3
128. 9
Arkansas
| 125. 0; 120. 2
125.4
285. 8! 287. 51 283.3
Louisiana
i 261. 8; 287. 8! 281.1
336. 8j
335.4
Oklahoma
; 328. 4: 337. 2! 332.1
330.9
Texas
I 848. li 917. 7i 923. 7 880.5 911.2; 860. 6i
Mountain:
j
114.7
112.9
118.
Montana
! 107. 4, 128. 2 ; 119.3
52.9
53.8
50.2
51.2
54. 0
52. 8j
Idaho
j
34.4
33. 6!
34.0
36.0
37.7;
34. 61
Wyoming
;
222 2j
218. 5
235.1
228. 2|
227. 2i
224. 0:
Colorado
j
30!3
30.41
30. 9i
30.1
28. li
30.5
New Mexico
j
43.5
42. 4|
43.7!
41.4
41. 4!
44.6
Arizona
i
83.3
85. 7!
87.0'
85.7
82. 5|
84.0
Utah
-J
17.3
17. 5!
17. 0;
17.7
16. 6]
16.8
Nevada..
\
Pacific:
j
319.5
324.4J
316.9
318.2
322.
314.9
Washington
j
212.7
207.5
209.9
215. 2!
213.8
206.
Oregon
2, 398. 4 2, 393.4 2,407.41 2,474.2 2,424.3 2,418.0! 2,436.7
2,448.
2,444.
California

Back figures .—See Annual Reports for 1928 (Table 98), and 1927 (Table 91).




144. 7
72.8
67.3
1, 656. 5
329.3
288.6
10, 785. 2
1,452.4
3,811.1

298.1
195. 2
2,582.8

ALL MEMBER BANKS, BY STATES
No.

189

101.—ALL MEMBER BANKS—TOTAL LOANS, BY STATES, 1928-1930
[In millions of dollars]

State

June
30

!
!

1929

1928
Dec.
31

Mar.
27

June
29

Oct.
4

Dec.
31

1930
Mar.
27

June
30

Sept.
24

Dec*
31

United States. 24,302.8 25,155. 3 24,944. 6 25,658.5 26,164. 8 26,150.1 25,118.8 25, 213. 824,738.0 23,870. 5
New England:
Maine
NewHampshire.
Vermont
Massachusetts..
Rhode I s l a n d . . .
Connecticut
Middle Atlantic:
New York
New Jersey
Pennsylvania. __
East North Central:
Ohio
Indiana
Illinois
Michigan
Wisconsin
West North Central:
Minnesota
Iowa
Missouri
North Dakota...
South Dakota...
Nebraska
Kansas
South Atlantic:
Delaware
Maryland
District of Columbia __
Viriginia
West Virginia...
North Carolina.
South Carolina..
Georgia
Florida
East South Central:
Kentucky
Tennessee
Alabama
Mississippi
West South Central:
Arkansas
Louisiana
Oklahoma... . .
Texas
Mountain:
Montana
Idaho
Wyoming
i
Colorado..
'
New Mexico
'
Arizona
Utah
Nevada..
!
PacificWashington
Oregon
California
i

!
79.6
77.6
77.7
80.0
78.5
79.7
83.0
83.4
91.3 !
80.8
44.4
45.4
46.4
47.6
48.4
45.8
43.8
46.1
44.2
42.6 |
38.9
40.7
40.2
37.8
43.4
42.3
41.1
42.8
41.7
39.4
1,291.1 1, 265. 9 1, 252. 7 1,297. 2 1, 325. 7 1, 327. 6 1, 292. 3 1, 266.4 1,250. 7 1,212.4
203.2
208.2
200.0
192.2
211.1
212.7
200.1
193.5
204.8
189.4
235.9
230.5
224.0
237.6
216.7
243.3
237.7
232.7
243. 0 244.1
6, 914.1 7, 511. 7 7, 253. 3 7, 859. 7 7,912. 9 8, 202. 2 7, 691. 7 8, 079.1 7, 797. 7 7, 525. 9
940.1
918.5
985.0 1, 030. 5 1, 023. 0 1, 050. 7 1, 050. 9 1, 048. 2 1,003. 4 986.6
2, 207. 3 2, 242. 6 2, 351.0 2, 382. 0 2,448. 2 2,421. 9 2,374. 6 2, 362. 3 2,328.8 2,277. 5
1,421. 5 1,445. 6 1,477. 0 1, 475. 7 1, 506. 2 1, 492. 2 1,488. 3 1,460. 9 1,452. 5 1,416. 5
288.9
289.1
275.1
266.2
302.3
301. 5 306.0
284.1
294.2
294.0
2, 009. 2 2, 063. 3 2,002. 4 1, 988. 2 2, 061.1 1, 976. 0 1, 899. 5 1, 971. 9 1, 983. 6 1, 763.1
1,027. 9 1, 062.1 1, 081. 6 1,108. 7 1,139. 9 1,101. 0 1,068. 3 1,051.6 1,016. 7 1,010.3
361.4
353. 3 343.8
338.2
356. 7 351.2
333.9
348. 7 360.0
335.8
325.9
250.4
615.9
46.7
40.3
129.8
136.0

333.1
251.7
613.7
46.3
39.8
133.2
135.0

339.7
253.2
618.7
45.9
40.3
133.4
134. 3

336.4
247.8
610.4
43.8
40.9
136.3
138.2

374.5
254. 4
616.9
45.5
42.6
139.0
136. 2

347.0
243.2
607.1
44.7
40.9
136.5
135.7

336.0
240.0
598. 0
44.1
40.2
137.7
126.1

310.4
227.0
572.3
42.8
.41.0
132.5
127.0

318.6
220.3
567.3
41.9
39.7
130.3
123.6

307.8
203.9
556. 5
39.8
37.7
127.7
117.7

50.3
202.7

67.7
211.3

58.0
208.1

65.5
214.5

67.1
222.9

64.4
223.6

205.6

«su

.1.7
196.9

63.3
192. 5

63.2
186.7

96.3
317.6
155.3
187.5
86.4
217.8
139.6

95.4
319.5
157.5
181.9
82.2
203.7
121.4

97.8
321.7
154.8
181.0
85.5
208.0
128.8

95.2
312.4
158.4
173.5
81.6
210.1
109.7

99.0
312.5
156.4
147.8
76.5
215.9
90.8

91.8
314.6
158.0
141.5
71.2
197.6
90.8

91.5
303.0
153.7
139.3
60.2
197.4
101.8

88.7
294.8
148.4
131.0
53.5
192.1
70.8

88.8
294.9
145. 8
131.5
52.3
183.8
65 2

89.4
284.8
146.6
111.8
48.8
178.0
59 3

230.2
225.2
169.5
58.5

254.4
225.1
179.5
57.0

251.9
213.8
176.5
58.0

253.7
213.8
175.0
58.5

258.0
249.9
173.5
60.5

256.3
240.6
366.8
54.9

240.9
238.3
159 0
57.7

236.1
232.0
155.9
57.8

231.4
233.4
152 7
57.1

189.0
207.0
146 7
45.6

95.8
215.6
207.1
641.5

93.4
224.2
209.7
680.9

94.6
221.3
203.3
674.6

96. 3
228.1
209. 8
649.0

100.4
231.5
213. 5
691.9

93 1
228.7
206.4
657.8

90 5
208.7
191.0
636 5

92.0
199.8
199.0
602 3

90 7
193.6
196.2
601 4

65 6
187.3
187.7
559 8

67.9
33.7
22.6
134.4
17.4
26.3
61.9
11.2

78.3
34.5
23.2
140.7
19.4
25.3
64.5
11.7

71.7
33.7
22.0
146.2
18.6
25.8
62.2
11.4

72.7
33.4
21.5
139.1
18.6
24.9
61.8
11.9

69.6
36.0
21.6
146.6
18.7
23.0
64.0
12.1

67.2
35 0
22.0
140.6
18.7
23.2
64 8
11.8

63.3
32 8
21.5
134.0
19.5
24.9
64 2
11.0

59.6
32 0
21.3
122.8
17.7
22.4
61 8
11.1

55.8
31 5
20.8
127.0
17.1
20.7
58 7
11.1

51.5
30 6
20 0
118. 2
15.7
19.0
55 8
10.8

195.7
194.6
197.4
202.6
215.7
205.4
198. 7 198. 6 186.5
181.6
109.7
109.5
107.6
113.4
116.9
116.6
111.9
111.2
109.4
99.6
1, 712. 0 1,672.5| 1, 638.4 1,657. 6 1,730.3 1, 788.1 1, 709.2 1,676.8 1,710.8 1,824. 6
1
Back figures—See Annual Reports for 1928 (Table 99), and 1927 (Table 92).




190

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 102.—ALL MEMBER BANKS—LOANS TO CUSTOMERS, OPEN-MARKET LOANS
[Exclusive of loans to banks. In millions of dollars. For explanation see Table 99]
Loans to customers

State

1929

1928

1930

Oct. 3 Dec. 31 M a r . 27 J u n e 29 Oct. 4 Dec. 31 Mar. 27 June 30 Sept.24 Dec. 31
United States. 21,240
New England:
Maine
New H a m p shire
Vermont
Massachusetts..
Rhode Island...
Connecticut
Middle Atlantic:
New York
New Jersey
Pennsylvania. _.
East North Central:
Ohio
Indiana
Illinois
Michigan
Wisconsin
West North Central:
Minnesota
Iowa
_Missouri
North D a k o t a South Dakota...
Nebraska
Kansas
South Atlantic:
Delaware
Maryland
District of Columbia
Virginia
West Virginia...
North Carolina.
South Carolina. .
Georgia
Florida.
East South Central:
Kentucky.
Tennessee
Alabama
Mississippi
West South Central:
Arkansas
Louisiana
Oklahoma
Texas
Mountain:
Montana
_
Idaho
Wyoming
Colorado
New Mexi30
Arizona
Utah . . . .
Nevada
Pacific:
Washington
Oregon
California _

21,565

21, 010

75

77

78

76

43
40
1,069
192
224

46
40
1,070
191
223

44
38
1,021
187
218

43
38
1,010
187
212

5,725
922
2,217

5,727
933
2,236

5,643
891
2,150

5,686
885
2,148

1,421
294
1,825
1,069
335

1, 366
274
1,612
1,027
321

1,367
273
1,707
1,024
325

1,348
260
1,613
999
321

1,361
256
1,588
992
319

354
230
569
42
37
121
122

328
227
539
41
37
121
123

301
220
501
40
37
117
114

291
211
477
41
38
113
115

298
194
471
40
37
109
109

290
193
475
37
36
114
110

58
190

60
204

56
209

55
186

55
185

59
181

59
180

87
297
149
173
77
192
101

88
291
153
166
76
193
90

88
288
152
141
72
189
70

85
294
155
135
67
182
72

80
276
148
127
56
166
71

81
273
146
125
50
169
60

82
267
143
125
50
164
56

86
264
143
107
46
163
56

246
214
168
54

242
203
166
55

244
203
165
55

249
237
164
58

248
231
160
52

232
220
146
55

228
216
145
56

223
216
139
55

182
196
136
45

89
208
190
582

83
210
183
574

83
204
179
571

88
209
195
579

93
217
199
621

86
217
195
600

84
196
181
565

86
187
191
567

84
180
187
570

63
176
184
537

51
30
20
124
17
19
57
10

49
30
19
129
14
20
57
10

47
30
20
130
15
19
56
,0

53
31
21
130
18
18
59
10

51
31
21
138
18
19
60
10

50
32
20
135
16
20
60
11

48
30
21
123
16
20
56
10

49
30
21
116
17
21
58
10

46
29
20
113
17
20
56
11

43
29
19
113
15
19
53
10

169
98
1,640

171
96
1,578

171
95
1,561

185
104
1,613

193
105
1,664

187
106
1,750

176
101
1,613

183
102
1,615

175
97
1,574

171
90
1,766

21,460

21,903

78

78

80

77

79

76

42
38
1,088
221

42
39
1,114
184
226

43
40
1,105
193
232

45
42
1,165
200
237

46
42
1,173
208
235

44
42
1,144
200
230

5,261
933
2,009

5,319
954
2,060

5,637
964
2,163

5,937
987
2,224

6,294
984
2,295

6,402
977
2,287

1, 350
266
1,814
1,000
318

1,361
276
1,889
1,020
327

1,390
277
1,850
1,039
336

1,399
285
1,818
1,074
342

1,397
287
1,876
1,107
339

288
236
529
43
35
111
118

283
231
520
41
35
119
120

301
230
537
41
35
118
118

308
227
544
42
36
119
125

42
191

48
188

53
188

82
290
150
180
78
189
104

84
300
153
172
77
186
108

234
212
165
59




22, 517

23,249

23,193

21,494

21,007

191

ALL MEMBER BANKS, BT STATES
No.

102.—ALL MEMBER BANKS—LOANS TO CUSTOMERS, OPEN-MARKET

LOANS—Continued
[Exclusive of loans to banks. In millions of dollars. For explanation see Table 99]
Open-market loans
State

1930

1929

1928

Oct. 3 Dec. 31 Mar. 27 June 29 Oct. 4 Dec. 31 Mar. 27 J une 30 Sept.24 Dec. 31

California

..

.

2,493

2,471

2,275

2,242

3,097

3,113

3,262

2,233

3

3,158

\
128
7

2
1
1
108
5
6

4
2

3
2
1
161
13
7

2
2

2
2

2
2

1
1

202
16
11

171
12
7

205
13
6

178
5

1,760
76
99

2,154
51
67

1,983
48
143

1,553
31
65

1,174
67
173

1,900
74
137

1,358
57
130

1,602
61
100

65
94

1,473
69
53

87
18
196
31
22

65
14
131
26
17

64
11
87
32
20

53
12
99
22
15

84
9
113
24
13

41
5
59
8
10

101
7
225
26
28

75
9
209
15
14

86
8
324
7
14

25
4
115
4
11

39
15
76
3
6
18
18

43
13
82
5
4
7
12

32
16
67
4

15
19
27
4
6
11
11

13
10
47
3
3
6
9

30
13
77

8

14
9
69
1
3
13
7

15
19
73

10
14

22
15
43
1
4
10
8

12
4
58
2
1
6
4

14
20

20
21

5
17

8
19

7
15

8
12

7
17

6
7

4
8

4

10
15
2
2
2
13
17

11
14
3
6
4
13
10

10
17
4
5
8
11
25

6
9
4

10
12
3
1
4
21
18

6
12
1
4
2
13
16

11
16
4
9
3
27
28

7
9
1
2
2
17
8

6
16
1
2
2
14
7

3
9

10
4
6
1

6
5
10
2

8
6
7
3

2
4
5
2

5
13
5
2

4
4
4
1

4
2
7
2

5

2

3
3
5
2

7

9

5
17
85

26
104

11
8
23
100

6
6
12
63

5
4
13
64

4
10
53

4
4
8
65

1
2
5
25

1
6
22

2
1
16

24
4
2
14
3
7
5
2

19
2

17
3
2
4
3
3
4
1

10

9
2

o

8
1
7
2
2

18
5
1
7
1
4
2
2

15
10
3
5

5
1
2
2

12

4

5
5
I

29
4
4
9
5
6
7
2

I

2

26
12
84

22
13
92

25
11
71

16
8
38

20
11
59

16
10
30

20
10
90

13
8
58

10
12
133

9
9
54

21
4
4
18




7

4
10
17
5

17!

1

7

2

Stoto

137
10
10

2

CO CO

5
2
2
152
11
11

OOCOCO

New England:
Maine
New Hampshire.
Vermont
Massachusetts..
Rhode Island...
Connecticut
Middle Atlantic:
New York
New Jersey
Pennsylvania
East North Central:
Ohio
Indiana
_.
Illinois
Michigan
Wisconsin
West North Central:
Minnesota..
Iowa
Missouri. ._
North Dakota...
South Dakota...
Nebraska...
Kansas.
South AtlanticDelaware
.
Maryland
District of Columbia
Virginia
West Virginia...
North Carolina.
South Carolina..
Georgia. .
Florida
East South Central:
Kentucky __ .
Tennessee
Alabama
Mississippi
West South Central:
Arkansas
Louisiana
Oklahoma
Texas. .
Mountain:
Montana.. . . .
Idaho
Wyoming
Colorado
New Mexico. .
Arizona
Utah
Nevada
Pacific:
Washington
Oregon

2,537

H*

United States.

11

3

2
1
10
2
2

1

1

1

192

ANNUAL REPOET OF THE FEDERAL RESERVE BOARD

No, 103.—ALL MEMBER BANKS—INVESTMENTS, BY STATES, 1928-1930
[In millions of dollars]
1928

1929

1930

Stale
June 30 Dec. 31 Mar. 27 June 29 Oct. 4 Dec. 31

June 30 j Sept. 24 Dec. 31

United States. 10, 758. 4 10, 528. 7 10,448.4 10,052. 5 9.748.9J 9,783.9 i, 936. 9 10,441. 9 10, 734. 2:10.9S9. 0
New England:
j
70.3
66.3
66.2
66.5
67. 61
68. 9
69.1
67.1
Maine
_|
78.
29.2
26.8
27.6
27.7
29.1
28.9
29.5
New Hampshire!
28.9
27. 9!
28.4
29.0
28.1
28.4
28. 6j
29. 0
28.6
28. 6
28. ll
29.5
Vermont
__|
28.8
363. i
410.6
444. 5|
458.1
Massachusetts _ 447.4 420.41 461.3
421.3
448.4|
444.0
141. 5
115.3
117.0
120.4!
135. 6
117.5
126.9|
137.1
Rhode I s l a n d . . . 146.2
131.
81.0
67.
70.0
77.5
72.3
71.9
Connecticut
74.3
71.1
80.4
Middle AtlanticNew York
_i 2, 853. 9 2,726.5 2,728.0 2,566.3 2,531.7 2,802.4 2,803.2 2,996.1! 3, 034.4 3,259.3
New Jersey
j 543. 5 518.11 506.3, 498.6! 482.3 476.6
531.7
533.9
498. it
539.71
Pennsylvania
j 1, 485.7 1,408.91 1,377.2! 1,360.1! 1,330.5 1,283. 2| ],333. 5i 1,437.5! 1 539. 2J 1,533.6
East North Central:
465.9
457.9 458. 7! 477.2
455. 5
Ohio
j 524.8 503. 31 516. 7 497. 0! 483.1
133.3
136. 4|
139. 8
130.2
141.8|
127. 4|
134. 9
125. 3
130.0
Indiana
j 137.9
636.8!
598.6
603.1
600.1 652. II 697. 0 799.5
Illinois
! 753.3 712.9! 653.9
414. lj 404. 5!
410. 2
358.7
394. 5
379.2 380. 5! 399. 3 369.7
Michigan
j 431.3
141. (
>
144. 5|
145. 91
141. 5j
128.9
136. Oj
132.2
138.1
Wisconsin.
j 156.3
149.7
West North Central:!
197. b
201. 0!
197.9i
204. 5!
197.9
188.4
188.3
199. 5
Minnesota
i 210.1| 2U4.4
109. 5!
113. 7\
116. lj
107. 8! 105. 5
112.1
101.9
114. 21
107.3
Iowa
_! 109.0
275.1
264. 31 253.3
282.4
258. 6
284. 6
250. 9
302.7
248. 8
Missouri..
j 306.3
27.1
24.7
24.8
26.0!
24. 6!
29.1
26.2!
28.8
27.5
26.7
North Dakota I
26. 5
25.4
27.6
27.8!
27.3;
27. 5j
28.5
28.6|
28.3
27.9
South Dakoi;a___|
53.4
64.4
64.7
62.4 j
57.41
55.9!
57.5!
55.2
53.4
Nebraska.
j
57.1!
68.2!
63.1
61. 3
59.3J
62.0:
66.9
Kansas
74. 3j 73. 7| 71. 51 72.8
-I
1
South Atlantic:
17.0
19.2
16.6
15.8
15.9J
18.2
16.61
19.3
18.6
17. ei
Delaware. _.
s
110.51
113.4
93.8
98.5
105.7
98.2
98.1!
108.2
101.1
103. 0|
Maryland
36. 6
42.11
36. 3!
35.7;
34.2
43.9
34.9
34. 7|
35. 5i
33.:
Dist. Columbia.
81.6
81. 5
76. Oj
78.9!
74.9
74.3
77.2!
76. 6
77.6
77.81
Virginia
47.3
47.4
45.21
46.2
44.9
44.9
46.1)
44.0
43. 2;
West Virgin-a...!
31. 0i
29.6
34.0
41.1
39.7
28.4
4G.4
40.3:
32.7
35.2
North Carolina.[
18. lj
19.1
18.1
28.1
35.0
19.7
29.2
29.9;
South Carolina._!
27.8
26.4
53.4
67.3
49.1
46.3!
48.6
50.1
54.5
56.81
Georgia
j
43.2
47.1
79.1
78.4
79.4
79.9J
80.8
76.0
80.1
81.7;
Florida
I
73.1
73.6
East South Central: |
82.8|
72.0
73.0
82.4
88.3
73.1
85.4
71.7
57.2
87.8!
Kentucky
J
51.1
46.4
46.3
46.41
45.8
49.4i
47.2
45.6
Tennessee
_J
46.9
44.6
48.7!
45. 5
48.8
49.0;
45.6
52. 3i
44.1
42.8
Alabama
]
47.5
44.3
20.0;
18.2
20.7
21.6!
20. 7|
16.8
19.5
20.7
Mississippi
j
19.6
21.8
West South Central:
25.9
28.0
30.1
32.9!
32.3
29.1
22.8
32. 5
Arkansas
34.3
33.9
53.8
46.2
63. 61
53.4
50.8
50.5
Louisiana
59.8
57.7
55.9
54.5
108.4
121.3
112.3
115.6
127. 5j
111.7
Oklahoma128.8
125. 5! 123.2
124.6
198.3
195. 9
199.7
236.8|
Texas
I 206.6
249.1 231. 6
219.3 202.8
198.4
Mountain:
47.1
46.1
48.1
44.2
45.3
47.6
45.7
39.5
45.1
47.8J
Montana.
16.6
16.9
16.7
17.0
19.1
19. 5j
Idaho
17.5
16.9
16.9
18.8
10.6
10.9
12.0
10.8
11.5
14. 4i
Wyoming.
14.0
12.9
12.0
12.0
93.
80.8
95.3
78.1
89.
87.4!
Colorado..
88.9
83.1
80.6
77.9
11.1
10.8
10.
12.0
11.6
11.51
New Mexico
|
11.8
11.6
11.4
11.6
15.5
18.8
15.1
17.0
15.7
18.5!
Arizona
_i
18.9
18.6
18.4
19.2
25.2
25.4
20.6
23.3
21.7
22.5!
Utah...
!
21.8
21.5
21.7
20.9
5.8
5.9
5.4
5.3;
5.8
5.8
5.6
5.4
5.5
5.7
Nevada
|
Pacific:
|
111.4
115.6
110.0
108.7
116.2
125.4
115.6
116.5
123. 8!
Washington
| 120.3
93.6
93.6
95.7
95.2
100.21
97.
Oregon
I
99.9
99.3
98.3
97.2
725.9 758.2
741.2
California..
j 732.8
776. 31
760.1 735.7 677.1 686.1 715.2
Back figures.—See Annual Reports for 1928 (Table 100), and 1927 (Table 93).




193

ALL MEMBER BANKS, BY STATES

No. 104.—ALL MEMBER BANKS—BORROWINGS FROM FEDERAL RESERVE BANKS,
BY STATES, 1930
[End of month figures. In thousands o dollars]
f
1930 1
State
Jan. ! Feb.
Maine
New
Hampshire
Vermont
Massachusetts Rhode Island-Connecticut
New York
New Jersey
Pennsylvania..
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
North DakotaSouth Dakota..
Nebraska
Kansas
-Delaware
Maryland
District of Columbia
Virginia
West Virginia. _
North Carolina.
South Carolina.
Georgia
Florida
Kentucky
Tennessee
Alabama
Mississippi
Arkansas
Louisiana
Oklahoma
Texas
Montana
Idaho
Wyoming
Colorado
New Mexico . . .
Arizona
Utah
Nevada
Washington
Oregon
California
1

Mar.

1,038j

975

751

2,001)
1, 402
17,369
973
4,126]
31,476!
20,152
64,942

1,
1,405
19,526
644
3,371
34,316
19,520
53,861

2, 673
1,405
11,304
8391
3,493
82,219
14,502
38,440!
17,413i
6, 509
17,468
12,888!
2,877

35,413 30,356
10,003 12,301
17, 675 9, 545
45,773j 31,568
6,081' 5, 756
3,645
4,428
8,831
561
584
5, 307
2,777
680
6,421

Apr. i M a y June
886|

975

1,437

1,635.1 2,791 2,312|
1, 342J 1, 773 1, 3201
7,523i 11,475; 9, 8881
1,018!
564| 125J
1,953! 3,9311 3,963
29,357 101,564! 71,538
17,904 17,280! 16,631
29,698 32,762 34,922|
11,842 10, 536 14, 501
4, 639 2,966 3,305
6,494] 5, 566 5,463
9,076i 6,262 7, 307
4,633j 2,802 3,136
574
794
4,557 1,689
9,930 4,945
726
852
972
861
2,982 2,167
5,612 3,308
748
1,095
200
9,102
4,615
5,896
1,357
5,145

728
8,986
4,681
4,947
1,
4,480
2,163
2,159
1,364

772J

3,137
6,059
2,275
8,556
1,061
522
731
1,279
268
20
1,709
87
2,461
2,541
1, 857

2, 678[
7,435
6,484
6,211
4,079
3,202
2,246
7,767
1,146
588
411
1,663
445
1,399
70
2,007
2,424
2,288

July

Aug.

815

Sept.

913!

1,342
901
4,889
200
3,746
21,853
13,856
25,831
8,500
4,091
5, 777
5,997
2,087
631
1, 811
2,770
1,058
1,129
1,366
2,040

Oct.

787;

Nov.

1,0791,378

Dec.
1,560

771!
785
1,019
775:
9,927 6, 508;
400
150
3,78l| 3,036
25, 928; 96, 224
10,041 8,764!
23,697 21,042;
7, 360] 12, 454!
4,461 3,919
10,196!
4,258' 7,393
2,072! 1, 685j
524! 1, 245j
1, 680| 1,234
2,690| 2,656
1,124!
748
1,187| 1, 087:
1, 042| 1,793!
1,970| 2, 071!

344
980

509J
833!

4,271
6,119
1,677
5,891
1,380

7,959
3,670;
7,868!
2, 664;
5, 323;
1,493!

1,130
892
904
951
939
836
4,883 9,487 7,179
531
76
209
2, 956] 3, 762 4,188
26, 687 44,139 50, 716
11,932! 17, 660 14, 689
24,961 29,999 36, 698
15,305 19,327 17, 528
4,117 3,308 3,591
6,0691 5,719 5,464
5, 993 6,758 7,281
2,476j 2, 750[ 7,853
1, 736! 1,327
712
2, 738] 4,253 2,138
2, 758; 4,756 5,287
777
728|
767
1,151! 1,225J 1,295
4, 904| 6,852| 4,874
3,200] 4, 941 j 2,964
23o!
679' 1, 3561
483
!
828! 1,468 5,405] 1,728

200 j
6, 6731
3, 697!
6, 708,
1,408!
4, 001 i
1, 508;

54lj
850
7, 332| 10, 694]
4,837 6, 558|
3,748 5, 7691
706 1, 236!
3,209
2,153 4,r

1,149
8,730

2,279 4,446 5,689
12,197 10, 570 12,114
6, 009 4,729 5.344
6,212 4,921 3,652
5,967 3,703 2, 601
2,973 3,477 7,923
1,973
2,602 1,641
10,152 8,585 7,169
579
983
437
239
446
138
178
151
154
744
2,408 2,183
515
596
293
83
98
954
1, 857] 1, 532 1,635

2,774
6,237
3,626
1,712
1,436
2,819
6,085
4,012
373
267
261
845
116
58
540

2,171 1, 923!
8,971 9, 339
7,405 8,033 i
7,066 7,150]
2,790 5, 386,
4,059 7,098:
2,349 2, 839!
11, 542 13,465|
1,234
1,217,
670
742
641:
596
2,904 2,424
562,
533
2,186
10
2,794
2,228
1,715

2, 627
2, 585
1, 619

1,958
1,262
5,955

5,363
375
2,834
1,535

2,635 2, 571
825
1,211 1,030 1,262
5,187 12, 968 12,531

Figures given include borrowings by Federal intermediate credit banks as follows:
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

i
Nebraska..
Kansas
South Carolina
Louisiana..
Washington
California-

365
600

900

176
900

365

100
306
250

.

.

124
j

296

i

Back, figures— See A n n u a l R e p o r t s for 1929 ( T a b l e 97), a n d 1928 ( T a b l e 101).




75!

501
443

644

Dec.

i
-.- .

250

116

Nov.

h 036

737

194

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 105.—NUMBER

State

OF MEMBER BANKS DISCOUNTING PAPER
RESERVE BANKS, BY STATES, 1923-1930
1923

I
New England:
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Middle Atlantic
New York
New Jersey
i
Pennsylvania
I
East North Central: I
Ohio
j
Indiana
I
Illinois.....
Michigan
Wisconsin
West North Cer.tral:
Minnesota
Iowa
Missouri
North D a k o t a - South Dakota
Nebraska
Kansas
South Atlantic:
Delaware
Maryland,.
Dist.of Columbia.
Virginia..West Virginia....
North Carolina_
South Carolina..Georgia.
Florida
East South Central:
Kentucky
Tennessee
!
Alabama
I
Mississippi
|
West South Central: |
Arkansas
i
Louisiana
|
Oklahoma
!
Texas
!
Mountain:
Montana
I
Idaho
'
Wyoming
Colorado
New Mexico
Arizona
Utah
Nevada..
Pacific:
Washington
_
Oregon
California
Total .

1924

1925

1926

1927

1928

37 i
39 :
28
146 :
14 !
41 ;

33 !i
39
30 !
135 !
12 I
46 ;

126 j
6j
44 |

433 I
220
587 |

42
42
36
148
13
45 |
I
436
221
592

438 !
235
509 !

429 '
247 !
613 ;

418 !
261 i
596 j

282 |
176
335
185
107 |

281
169
342
177
95

285
149
311
161
73

276
141
321
174
68

251
135
286
182
71

161
333
121
118
105
149
128

139
303
123
106
95
133
118

99 !
265 !
110 I

17
62
12
146
75
87
81
143
48

15
58
11
155
92
80
78
156
42

71
62

75
80
90
32

40
42
29
153 |
13 !
46 I

,
!
:
:
'

108 I
74 ;
15 ;!
54
9:
146 I
82 !
78 i
69 !
131 !
17 j
67 !
63

77 i

AT FEDERAL

1930

1929

32
40
43
142
11
51

31
42
32
128
8
50

437 1
264 !i
610
!
241
131
267
166 i

455
264
673 |

459
282
671

262
143
311
183
85

252
130
287
139
89

So j
190 I
124 i
66 i
52 i
109 !
87;

80
153 |
116 |

78 j
131
121
59
40
102
108

67
162
123
47
49
101
120

16 !
53
9!
124
74 ;
72 !
59
104
35
52
56
79
32

16
.50
9
132
77
78
48
108
36

139 !
81 ;
61
49
115 I
49;

14
46
8
125
78
61
35
96
35

51
53
92
33

72
62
103
33

|
i
|
I

59
29
100
290

55
30
102
267

50
30
113
323

I
!
I
|

61
27
127
346

48 I
38
9
67
14
8
33

45
38
10
60
10
6
33

25
28
8

45
23
13
64
18
6
33
1

j
I
|
!

40
27
14
68
11
4
31
2

i
i
!
j
|

91 j
230 |
108 i
53
95 |
14
54
10
143
83
75
74
121
41
60

i
!
j
!
I
!
!
j
|
I

65 |

88 j
31 !
74
28
167
417

523

415

35 i
146
309

132
83
27
89
41
22
38
1

102
66
27
76
27
19
34
1

60 '
56
11
72
21
8
36
1

101
63
161

87
61
159

82
60
138

57
134

i, 333

6,060

5,183

5,343

31

!
|
i
!
|

29
37
22
133
11
43

6 1 '•

36 j
97 !
105 !

I

51
12 i
3
35

I
|
!
!
|

67
91
33

I
80 |

73
56 |
111 i
4S
,

!
j
!
!
I
;

25!
4,718

5,113

75
51
81
4,991

Bick figures.—See Annual Reports for 1922 (Table 49), 1919 (Table 30), 1918 (Table 23), and 1917 (p. 104).




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

195

REPORTING MEMBER BANKS IN EACH DISTRICT
No. 106.—REPORTING MEMBER BANKS—TOTAL LOANS AND INVESTMENTS, BY
WEEKS, W I T H MONTHLY AVERAGES OF WEEKLY FIGURES
[In millions of dollars]
Federal Reserve District

Apr. 2_.
Apr. 9..
Apr. 16_.
Apr. 23..
Apr. 30..
M a y 7.
May 14.
May 21May 28.
June 4_.
June 11.
June 18..
June 25-.
July 2_.
July 9_.
July 16
July 23..
July 30Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3 .
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22.
Oct. 29Nov. 5
Nov. 12
Nov. 19
Nov. 26

610
607
601
607 I

1,516
! 1,511
| 1,511
1 1,518
|
|
|
I
!
i
—|
|
!

Dec. 3
Dec. 10
Dec. 17
Dec. 24....
Dec. 31
Average:
January
February..
March
April
May.
June
July
August
September.
October
November.
December.

3,241
3,248
3,267
3,248

1, 266 2, 280
1, 276 2, 275
1, 278 | 2, 273
1,275 ! 2,277

ljoll
1,514
1,546
1,521
1,513
1,516
1,516
1,543
1,524
1,517
1,506

368
368
369
365
371
364
364

1,502
1,495
1, 495
1,485
1,492
1,527
1, 496
1,501
1, 521
1,498
1,512
1,530
1,514
1,515
1,522
1,523
1,494

8,899
8,755
8,929
9,117
9,163
9,420
9,358
9,357
9,349
9,551
9,652
9,391

1, 206
1,203
1,201
1,212
1,209
1,238
1,256
1,273
1,289
1,296
1,296
1,307

2,136
2,128
2,149
2,176
2,174
2, 213
2,277
2,276
2,297
2,283
2, 246
2,229

653
646
651
653
643
648
647
652
654
658
655
643

620
618
621
620
606
600
593
588
596
600
595
594

3,193
3,150
3,204
3, 232
3,251
3,302
3,379
3,392
3,400
3,376
3,368
3,358

676
666
665
666
675
660
667
668
665
655
648
643

658
655
657
656
653
650
662

!
|
1 448 ! 1,996

370
364
373
369
361
363
353
355
369
372
370
367

664
655
647
654
659
655
652
652
659
659
659
656

! 467 < 1, 957
462 ! 1,939
460 l 1,951
466 i 1,971
j 457 I 1,966
| 448 ; 1,965
440 ! 1,951
I 436 : 1,965
445
1,981
1, 980
' 457
454 i 1,991
447 ' 1,990

j

444 ! 2,002
449; 2,011
449 ; 1,987
444 j 1,954

Back figures—See Annual Report for 1929 (Table 100) and,,Federal Reserve Bulletin for January, 1929.




196

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 107.—REPORTING MEMBER BANKS—TOTAL LOANS, BY
MONTHLY AVERAGES OF WEEKLY FIGURES

WEEKS,

WITH

[In millions of dollars]
Federal Reserve District
Boston

New i Phila- Cleve- Rich- AtHAI
York ! Q61- land mond lanta
! phia

Chicago

Min
KanSt.
neLouis apolis sas
City

San
Francisco

"Hal

Ual'
12.3

i

1,202
1,222
1,205
1,202

1,163
1,168
1,185
1,192

Apr. 2...
Apr. 9...
Apr. 16Apr. 23Apr. 30May 7...
May 14..
May 21..
May 28..

July 2 —
July 9 —
July 16...
July 23—
July 30—
Aug. 6.,..
Aug. 13...
Aug. 20-.
Aug. 27...
Sept.
Sept.
Sept.
Sept.

1,183
1,182
1,193
1,181
1,166
1,153
1,142
1,153
1,152
1,146
1,156
],148
1,153
1,160
1,162
1,149
1,139
1,148
1,144
1,138
1,130
1,143

3-_.
10..
1724..

Oct. 1.—
Oct. 8....
Oct. 1 5 - .
Oct. 22...
Oct. 29...

Average:
January
February..
March
April
May
June
July
August
September.
October
November.
December -

1,207
1,170
1,177
1,181
1,150
1,151
1,152
1,139
1,140
1,143
1,136
1,109

6,788
6,652
6,572
6,570
6,586
6,559
6,496
6,422
6,525
6,651
6,737
6,752
6,829
6,712
6,721
6,868
6,926
6,836
6,815
6,802
6,873
7,067
6,933
7,069
7,078
6,987
6,837
6,865
6,860
6,951
6,929
6,896
6,859
6,891
6,930
6,828
6,862
6,904
7,090
6,970
7,018
6,893
6,959
6,980
6,863
6,910
6,828
6,812
6,737
6,545
6,581
6,687
6,645
6,516
6,666
6,811
6,832
7,037
6,900
6,894
6,881
6,986
6,895
6,673

j
'
|
!

931
915
929
919
924
922
914
909
914
907
915
920
923
922
913
917
908
912
907
904
904
915
926
928
926
921
932
938
931
925
932
937
933
926
920
944
941
932
908
895
882
882
888
887
892
887
888
895
891
878
884
883

1,537
1,536
1,531
1,532
1,523
1,523
1,515
1,518
1,513
1,509
1,524
1,556
1,535
1,534
1,521
1,529
1,519
1,518
1,519
1,529
1,519
1,529
1,520
1,525
1,529
1,534
1,529
1,524
1,510
1,510
1,508
1,499
1,495
1,492
1,502
1,508
1,507
1,501
1,498
1,487
1,492
1,496
1,486
1,484
1,485
1,489
1,484
1,487
1,493
1,503
1,482
1,475

923
917
914
917
907
924
929
932
934
891
888
886

1,534
1,520
1,525
1,528
1,521
1,526
1,521
1,499
1,504
1,492
1,486
1,488

468
464
466
469
467
469
464
462
467
467
468
468
468
468
467
467
469
467
466
465
463
461
464
461
450

468
466
465
466
462
459
458
455
456
454
449
454
449
450
451
452
451
453
450
451
450
446
450
449
451
452
452
448
452
451
436

2,559
2,541
2,518
2,517
2,502
2,486
2,511
2,510
2,533
2,550
2,569
2,555
2,543
2,568
2,590
2,579
2,558
2,571
2,570
2,592
2,578
2,588
2,609
2,649
2,588
2,597
2,640
2,655
2,664
2,658
2,633
2,617
2,596
2,595
2,596
2,607
2,630
2,639
2,588
2,565
2,591
2,570
2,564
2,552
2,550
2,553
2,494
2,496
2,499
2,518
2,466
2,444

533
535
520
519
516
520
517
512
511
515
516
511
510
513
516
511
509
507
505
496
492
489
496
501
504
506
516
515
512
517
518
519
509
506
503
513
511
503
498
494
492
492
490
485
485
484
478
476
472
477
480
483

499
491
495
494
482
479
468
467
466
468
467
460

496
495
496
490
474
466
458
451
451
450
450
448

2,534
2,502
2,552
2,568
2,578
2,608
2,643
2,611
2,618
2,576
2,537
2,485

527
516
513
512
500
498
513
513
507
493
483
477

508
498
499
492
495
495
486
487
493
497
495
496
496
500
492
492
489
485
482
480
479
479
483
479
473
473

472

499
493
493
500
497
493
494
494
495
493
499
499
497
495
489
489
483
479
478
470
469

237
246
247
241
242
242
242
244
244
245
243
240
237
237
233
240
233
233

461
452
451
443
441
441
443
443
440
439
437
431
433
441
441
440
438
440
442
441
438
435
442
435
434
420
431
440
433
430
431
430
432
417
418
427
424
423
419
417
414
410
408
410
414
411
410
412
412
412
408
409

370
364
359
359
362
360
353
352
345
346
355
353
355
356
356
351
352
352
348
347
344
341
338
335
331
330
329
328
328
328
328
329
328
328
331
332
337
340
340
338
340
341
342
339
337
336
334
332
330
327
329
329

1,393
1,396
1,380
1,374
1,368
1,365
1,371
1,368
1,363
1,372
1,355
1,364
1,356
1,353
1,361
1,350
1,363
1,350
1,350
1,352
1,347
1,343
1,354
1,351
1,337
1,337
1,333
1,336
1,332
1,329
1,329
1,342
1,356
1,351
1,341
1,345
1,365
1,373
1,339
1,341
1,342
1,339
1,336
1,345
1,345
1,337
1,336
1,332
1,339
1,340
1,326
1,320

254
249
257
252
245
241
228
233
243
243
241
235

452
442
437
439
440
437
431
427
423
414
411
411

363
357
350
354
348
336
329
328
335
340
336
329

1,386
1,368
1,363
1,357
1,350
1,346
1,334
1,345
1,356
1,340
1,341
1,331

260
255
251
248
248
247
248
253
253
259
259
256
253
251
252
249
254
250
249
240
241
239
243
242
239
231
229
229
225
228
230
234
235
232

Back figuresSee Annual Report for 1929 (Table 101) and Federal Reserve Bulletin for January, 1929.




197

EEPORTING MEMBER BANKS IN EACH DISTRICT
No. 108.—REPORTING MEMBER BANKS—LOANS ON SECURITIES,
WITH MONTHLY AVERAGES OF WEEKLY FIGURES
[In millions of dollars]

BT WEEKS,

Federal Reserve District

Boston
1930
Jan. 8_
Jan.15J a n 22
Jan. 2 9 . .

Feb. 5
Feb. 12
Feb. 19
Feb. 26
Mar. 5
Mar. 12.Mar. 19..
Mar. 26..
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7__ ._
May 14 _
M a r 21
May 28_ _
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23
July 30
Aug. 6
Aug. 13_Aug. 20Aug. 27
Sept. 3.
Sept. 10
Sept. 17
Sept. 24.
Oct. 1
Oct. 8
Oct. 15.._
Oct. 22
Oct. 29
Nov. 5-.
Nov 12
Nov. 19
Nov. 26-.
Dec. 3
Dec. 10
Dec. 17
Dec. 24
Dec. 31
Average:
January
February..
March
April
_.
MayJune
July .
August
SeptemberOctober
NovemberDecember..

533
562
543
530
503
504
504
498
505
504
518
526
530
533
552
551
531
520
513
518
530
519
523
510
513
525
531
524
512
510
508
503
498
506
499
502
508
507
509
494
486
474
476
469
459
451
450
451
451
450
440
454
542
502
513
540
520
516
520
504
504
488
457
449

New Phila- Cleve- Rich- AtdelYork phia land mond lanta

152
151
153
162
158
159
159
162
159
164
167
164
162
161
160
158
155
153
155
152
152

1 247
1,248
1,232
1,242
1,237
1.220
1,247
1,244
1,254
1,274
1,301
1,288
1,268
1,283
1,304
1,274
1, 253
1,252
1,257
1,285
1,282

151
150
148
144

1,296
1,314
1,322
1,279

148
147
148
146
149

732
743
745
744
736
725
723
727
718
720
722
721
720
723
724
735
720
706

189
189
192
188
192
192
185
188
192
196
197
200
199
201
196
197
201
198
197
193
194
195
202
196
185
184
185
186
185
181
181
177
178
176
174
178
179
179
175
175
174
174
173
174
174
174
172
171
171
175
173
171

150
151
153
150
150
151
149
148
145
143
146
143
142
145
142
140
141
140
135
137
136
130

1,280
1,322
1,316
1,333
1,324
1 288
1,282
1,278
1,285
1,285
1,306
1,334
1,341
1,276
1 250
1,281
1,273
1,271
1,261
1,251
1,244
1,195
1,197
1,219
1,231
1,193
1,150

739
725
730
734
734
746
743
739
741
726
721
721

189
189
196
199
196
195
184
178
177
174
174
172

154
160
164
159
153
148
148
151
149
144
142
135

1,242
1,237
1,279
1,277
1,269
1,303
1,315
1,283
1,317
1,270
1,238
1,198

740
744
739
734
728
727
723
723
719
717
727
759

3,734
3,708
3,644
3,756
3,828

505
492
505
494
492
488
483
477
481
473
484
482
488
485
479
484
478
486
478
472
472
475
485
487
480
479
489
487
489
486
486
481
479
475
476
492
489
487
460
456
451
447
447
447
448
442
445
450
450
452
463
476

3,404
3,365
3,591
3,854
3,945
4,171
4,015
4,025
4,019
4,030
3,798
3,734

499
485
480
483
477
482
486
480
486
452
445
458

3,508
3,432
3.353
3,322
3.378
3.380
3,359
3.343
3.428
3,543
3,638
3,755
3,858
3,743
3,779
3,894
3,998
3,903
3,887
3,943
4,045
4,232
4,109
4,196
4,149
4,116
3,962
3,977
3.986
4,032
4,075
4,021
3,965
4,040
4,078
3,966
3,987
4,045
4,197
4,060
4,037
3,954
3,901
3,934
3,777
3,748
3,734

Chicago

734
737
728
740
731
728
732
744
732
743
752
742
747
745
744
754
738
734
746
737
738

734

Min- KanSt.
sas
neLouis apolis City

251
251
239
235
230
233
232
233
230
233
233
229

86
85
85
85
86
89
85
86
83
89
90
87
85
82
85
85
91
91
94
88
89

127
130
135
132

207
208
203
193

79
79
79
78
79
79
78
78
79
78
75
77
77

193
192
198
198
206

77
78
84
78
79

133
136
136
138
135
136
135
130
135
147
146
143
140
142
145
142
140
138
147
136
132
119
130
140
132
127
131
133
136
124
126
133
130
129
124
122
117
111
112
110
112
110
110
111
112
111
107
108

244
232
231
231
224
217
236
230
224
212
203
197

85
87
87
86
90
88
80
78
79
78
77
79

131
136
134
142
142
138
130
131
130
117
110
110

228
232
234
230
231
230
228
220
220
206
216
220
225
229
240
240
234
236
236
234
225
224
221
229
227
220
215
212
211
211
209

88
90
89
87
80
79
81
78
80
79
78
79

78

Dallas

San
Francisco

93
94
95
95
95

455
457
447
447
446
446
449
444
445
446
445
447
440
437
450
450
453
438
444
451
449
441
457
453
436
430
432
445
440
433
431
452
461
462
442
446
467
477
463
451
452
448
444
447
444
437
434
429
436
436
420
412

112
107
112
120
117
109
99
98
99
94
92
94

452
446
445
446
445
447
436
452
458
452
440
427

113
112
111
110
108
109
106
106
106
108
118
116
116
121
124
119
119
119
116
117
116
114
112
108
102
98
99
99
100
98
98
99
98
96
96
99
101
98
95.
95
95
93
93
93
92
92
91

Back figures—See Annual Report for 1929 (Table 102) and Federal Reserve Bulletins for March and
January, 1929.




198

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 109.—REPORTING MEMBER B A N K S — " A L L O T H E R " LOANS,
WITH MONTHLY AVERAGES OP WEEKLY FIGURES

BY

WEEKS,

[In millions of dollars]
Federal Reserve District
Boston
1930
Jan 8
Jan 15
Jan 22
Jan. 29
Feb 5
Feb 12
Feb. 19
Feb 26
Mar 5
Mar 12
Mar 19
Mar 26
\pr 2
Apr. 9
Apr 16
Apr. 23
Apr. 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23
July 30..
Aug. 6
Aug. 13
Aug. 20
Aug. 27. . .
Sept. 3
_
Sept. 10 Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22
_.
Oct. 29
Nov. 5
Nov. 12 .
Nov. 19
Nov. 26-Dec. 3 . .
Dec. 10
Dec. 17
Dec. 24
Dec. 31
Average:
January
February...
March
April
May
June
July
August
September..
October
November.
December..

Min- KanNew Phila- Cleve- Rich- At- Chica- St.
delnesas
Louis apolis City
go
York phia land mond lanta

668
660
662
672

3,280
3,220
3,219
3,248

426
422
424
425

798
792
792
798

666
677
666
663
658
664
667
666
653
648
641
630
635

3,207
3,179
3,137
3,079

432
434
431
432

3,097
3,108
3,099
2,997
2,971
2,969
2,942
2,974
2,928

434
434
430
439
435
437
434
433
430
427
429
432
432
440
441
440
446
442
443
451
441
439
445
457
454
451

795
796
792
795
794
792
796
797
801
798
793
789
787

633
628
636
622
627
633
638
641

2,933
2,928
2,859
2,828
2,835
2,824
2,874
2,929

1,312
1,293
1,286
1,275

282
284
282
284

174
170
166
163

334
322
316
311

339
335
335
332

285
288
284
280
280
282
283
283
282
282
282
281
278
277
276
276
272
283
280
281
280

162
158
163
167

326
322
319
317
317
316
317
322

1,265
1,266
1,264
1,266
1,279
1,276
1,268
1,266
1,274
1,285
1,286
1,305
1,305
1,319
1,314
1,308
1,295
1.292
1, 295
1,327
1,308

308
306
307
304
304
303
302
300
298
294
296
297
297
298
297
299
298
297
295
300
302

938
938
933
927
922
919
922
924

239
238
237
237
239
235
232
232
233
233
231
230
228

918
926
910
917

287
285
287
285

789
785
771
772

289
288
281
278
284
288
290
291
288
289
289
287
289
293
293
294
293
293
295
293
293
293
292
289
289
288
280

314
312
310
308
307
303
298
301
299
300
300
302
302
308
307
305
307
305

1,317
1,318
1,339
1,331
1,334
1,346
1,335
1,318
1,311
1,311
1,300
1,296
1,298
1,312
1,316
1,310
1,297
1,294

277
276
275
278
281
282
284
284
281
282
283
283
283
282
282
281
280
281

305
307
310
310
312
313
315
315
307

1,291
1,299
1,309
1,300
1,299
1,280
1,288
1,272
1,294

278
277
281
285
283
280
279
282
277

166
167
164
161
160
155
156
155
154

300
302
301
301
302
301
302
301
301

246
245
243
243
239
236
233
234
234

898
901
899
902

310
202
299
295
286
284
284
289
289
293
293
288

342
335
333
332
321
318
310
300
301
306
308
312

1,291
1,265
1,272
1,291
1,309
1,306
1,328
1,327
1,301
1,306
1,300
1,287

283
284
282
281
275
281
277
283
283
281
280
280

168
162
170
166
155
152
149
154
164
164
165
156

321
306
302
296
298
298
301
296
293
296
301
301

251
250
238
234
231
227
230
231
237
246
244
235

934
922
918
911
904
900
898
893
898
888
900
905

3,046
3,086
3,162
3,093
3,078
3,029
2,901
2,826
2,859

440
444
445
443
446
440
426
422
407

665
668
663
641
630
635
631
635
636
655
679
660

3,242
3,151
3,075
2,957
2,887
2,866
2,885
2,868
2,862
2,956
3,097
2,938

424
432
434
434
430
442
443
452
448
439
443
428

795
794
795
794
788
780
779
759
763
766
765
766

in

283
281
283
288

336
328
332
335
335
334
329
331
329

257
252
247
249
254
251
247
246

790
787
786
787
786
768
783
782

762
761
757
758
770
765
702
756
762
762
770
769
768
763
763
768
765
765
769
768
761
769

444
453
451
444
448
439
430
434
441

347
342
340
339

San
Francisco

170
170
169
169
168
170
166
163
163
159
155
152
152
151
153
152
153
151
150
148
147
148
151
155
156
154
158
166
167
163
163
163
164
166
165

635
631
625
628
638
636
634
632
637
639
643
631
632
662
651
647
659
657
692
679
676
670
669
662
651
658
661

2,870
2,875
2,887
2,874
2,918
2,855
2,875
2,893
2,851
2,852
2,862
2.876
2,859
2,893
2,911
2,981
2,939
3,058

319
310
307
305
303
302
301
299
301
301
298
295
296
298
296
295
288

Dallas

301
301
300
301
303
300
297
296
293
292
293
294
295
295
295
297
299
296

227
225
227
228
232
230
230
229
229
230
230
230
232
235
233
236
242
245
244
245
247
249

916
916
910
900
910
912
906
901
898
902
898
898
901
908
901
892
892
896
898
890
895
889
899
899
898
897
876
890
890
891
893

903
903
904
906
908

Back figures.—See Annual Report for 1929 (Table 103) and Federal Reserve Bulletins for March antf

January, 1929.



199

REPORTING MEMBER BANKS IN EACH DISTRICT
No. 110.—REPORTING MEMBER BANKS—INVESTMENTS,
BY
MONTHLY AVERAGES OF WEEKLY FIGURES

WEEKS,

WITH

[In millions of dollars]
Federal Reserve District
Min- KanichCleve- i Rich- Atlan- Chica- St. neap- sas
Louis olis City
ond
ta
go

Dallas

San
Francisco

601
602
602
606
607
605
610
611

124
125
124
124
125
124
123
124
122
122
129
126
129
130
130
129
129
131
130
131
138
132
131
136
136
135
134
135
135
135
136
135
138
137
137
139
152
151
150
150
150
149
149
146
145
144
144
141
144
153
151
140

662
660
657
658
649
646
649
648
659
656
644
650
655
662
667
670
670
670
678
675
670
680
689
697
709
731
722
745
738
744
760
773
799
791
793
787
769
780
794
787
797
810
812
807
834
835
848
853
863
897
884
868

149
148
149
150
150
149
149
149
148
150
154
154
153
154
153
153
155
156
160
182
204
177
161
157
155
152
155
154
155
152
153
154
157
157
156
159
158
159
160
160
161
165
165
164
166
162
166
166
166
163
166
167

116
116
116
116
114
116
116
116
117
116
117
117
120
119
118
118
110
113
116
118
119
123
122
122
122
125
126
124
125
124
124
121
121
121
126
127
125
127
130
130
130
129
130
129
126
127
131
131
132
131
131
131

213
213
211
211
214
212
213
213
212
214
208
208
209
215
216
221
217
217
219
218
218
220
219
218
217
220
220
220
222
222
222
220
227
229
233
236
238
238
239
242
246
249
250
249
250
246
245
244
244
241
242
253

104
104
104
104
104
105
106
106
106
106
115
113
113
113
111
110
111
110
109
110
109
109
109
114
115
113
112
110
110
109
108
108
107
107
105
105
115
115
116
117
118
118
118
118
117
118
117
116
114
122
120
115

570
572
570
571
571
569
573
571
562
582
605
602
607
612
613
61&
622
618
615
615
616
61&
616
621
621
615
616627
616
613
619
619
624
622
621
623
623
633
633
63g
636
644
651
637
649
652
662
664
662
671
660
634

603
608
623
649
653
687
755
778
793
791
760
741

Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2.
July 9
July 16.
July 23.
July 30
Aug. 6
Aug. 13
Aug. 20.
Aug. 27
Sept. 3
Sept. 10.
Sept. 17.
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22.
Oct. 29.
Nov. 5
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10.
Dec. 17.
Dec. 24.
Dec. 31.
Average:
January....
FebruaryMarch
April.
May
June
July..
August
September.
October
November.
December.

154
153
154
155
154
155
156
155
155
152
162
156
162
159
158
159
157
157
161
162
164
164
162
176
177
180
177
176
179
182
185
183
184
186
186
183
193
191
191
187
191
193
190
188
189
188
186
185
182
184
183
179
154
155
156
159
161
170
179
185
188
191
188
183

124
124
125
130
132
134
135
136
145
149
145
146 !

659
648
652
665
673
694
736
781
782
800
831
873

149
149
152
154
176
163
154
155
158
162
165
166

116
115
117
117
116
122
125
122
126
130
128
131

212
213
211
216
218
218
221
225
236
245
248
245

104
105
110
112
109
112
111
107
110
117
117
117

571
571
588
614
616
619
617
621
625
640
650658

326
325
325
325 |
330 !

Back figures—See Annual Report for 1929 (Table 104) and Federal Reserve Bulletin for January, 1929.

33454—31




14

200

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 111.—REPORTING MEMBER BANKS—NET DEMAND DEPOSITS, BY WEEKS,
WITH MONTHLY AVERAGES OF WEEKLY FIGURES
[In millions of dollars]
Federal Reserve District
[

Boston
1930
-Jan 8
Jan.15
Jan. 22
Jan 29
Feb 5
Feb. 12
Feb 19
Feb. 26 . . .
Mar. 5
Mar 12
Mar. 19
Mar 26
Apr. 2
Apr. 9
Apr 16
Apr. 23
A or 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2 . .
July 9 .
July 16
July 23
._
July 30
Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
_.
Sept. 10
Sept 17
Sept. 24._.
Oct. 1
Oct. 8
Oct. 15
Oct. 22.. . .
Oct. 29
Nov. 5 . .
Nov. 12
Nov. 19
Nov. 26
Dec. 3_
Dec. 10
Dec. 17
Dec. 24
Dec. 31
Average:
January
February...
March
April
May
June
July
. ..
August
September.
October
November..
December..

New Phila- Cleve- Rich- AtdelYork phia land m o n d lanta

951
952
911
900

6,058
6,033
5,886
5,794

726
714
701
693

901
916
901
879

5,871
5,802
5,785
5,816
5,787
5,871
5,877
5,920

704
703
699
686
714
706
701
700

6,029
5,896
5,979
6,120
6,252
6,014
6,070
6,050
6,118
6,263
6,201
6,221
6,262

887
893
897
891
917
899
919
908
924
892
890
887
877
879
894
877
874
914
896
918
900
890
895
878
881
878
889
887
871
868
917
882
909
894
886
929
933
912
881
891
883
870
857
8S6

6,298
6,095
6,176
6,224
6,310
6,185
6,181
6,145
6,214
6,199
6,153
6,131
6,160
6,366
6,197
6,251
6,315
6,498
6,395
6,498
6,579
6,558
6,504
6,515
6,438
6,398
6,663

725
723
711
711
705
715
715
701
702
729
744
740
726
740
745
766
747
747
751
754
752
743
743
776
763
744
759
757
744
745
738
745
752
737
737
764
764
756
750
767

928
899
892
913
886
881
904
883
879
898
914
879

5,943
5,818
5,864
6,055
6,063
6,237
6,221
6,181
6,161
6,325
6,508
6,504

709
698
705
715
708
735
749
750
756
749
743
760

Chicago

Min- KanSt.
sas
neLouis apolis City

Dallas

330
334
334
335

1,837
1,823
1,811
1,789

388
391
378
374

223
221
215
212

485
494
489
474

291
291
286
286

332
330
330
330

1,775
1,766
1,797
1,795
1,812
1,849
1,835
1,835
1,851
1,867
1,906
1,899
1, 900
1,897
1,927
1,940
1,911

370
373
370
372
367
379
378
378
377
380
386
375
372
378
382
366
363

208
210
211
216

471
476
479
482
474
489
479
479

287
286
280
284

366
376
375
374

344
345
339
329
332

316
315
312
311
309
311
313
311
311
315
315
311
312
313
313
317
310
306
315
316
310
306
306
305
299
299
303

1,920
1,955
1,955
1,873
1,913
1,955
1,942
1,924
1,942
1,932
1,933
1,941
1,906
1,912
1,929
1,917
1,876
1,873
1,852
1,920
1,889
1,880
1,898
1,937
1,901
1,878
1,807
1,922
1,911
1,855
1,872

369
380
376
371
373
375
378
371
369
369
377
371
366
360
355
361
355
359
359
363
355
356
365
369
374
376
393

353
349
351
348
343
344
347
352
350
349
347
338

333 1,815
331 1,783
326 1,833
329 1,885
322 1,919
312 1,926
313 1,935
311 1,928
313 i 1,909
312 1,883
312 1,904
303 i 1,893

383
371
376
378
372
373
374
373
371
358
358
375

1,006
1,008
1,003
1,003
1,002
998
1,002
998
1,009
1,015
1,015
1,043
1,040
1,036
1,042
1,042
1,036
1,041
1,052
1,070
1,069
1,093
1,112
1,098
1,104

353
353
360
347
351
353
345
346
354
353
347
351
351
354
347
346
342
344
347
342
340
349
348
339
340

1,136
1,141
1,170
1,147
1,161
1,138
1,147
1,144
1,143
1,147
1,158
1,145
1,133
1,133
1,111
1,125
1,113
1,089
1,097
1,105
1,086
1,082
1,082
1,080
1,066
1,062
1,070

343
344
352
347
348
356
352
350
351
352
353
348
348
352
348
352
349
342

1,005
1,000
1,021
1,039
1,058
1,102
1,151
1,143
1,146
1,114
1,092
1,072

348
354
344
344

327
331
319
324
328
328
337
328
327
331
326
318
313
316
317
308
308

225
230
225
222
222
222
222
218
223
222
223
215
219
227
229
226
225
217
218
221
217
217
216
221
218
215
225
234
232
227
227
231
232
232
234
236
234
233
235

483
488
489
477
480
483
499
488
495
492
506
491
479
484
488
487
479
489
493
510
490
484
477
495
475
464

228
224
221
215
207
218
211
226
221
220
227
218
217
230
231
235
219

281
282
284
333
286
289
295
289
287
287
.289
290
283
285
280
274
274

San
Francisco

772
778
760
743
739
766
757
740
701
753
719

278
276
280
274
268
266
274
273
269
272
279
285
279
280
279
289
280
277
282
283
282
279

727
723
728
742
729
728
723
751
726
714
722
741
738
729
735
739
771
742
736
749
769
750
730
723
751
757
748
743
738
757
739
737
748
779
759
762

467
466
468
463
476

281
277
276
271
269

767
765
752
729
751

486
477
480
488
487
485
489
492
484
493
478
468

289
287
295
289
287
278
275
270
279
281
282
275

763
750
725
730
729
733
745
749
745
743
762
753

480
486
498
490
484
485
497
485
480

Back figures.—Sse Annual Report for 1929 (Table 105) and Federal Reserve Bulletin for January, 1929.




201

REPORTING MEMBER BANKS IN EACH DISTRICT
No, 112.—REPORTING MEMBER BANKS—TIME DEPOSITS, BY WEEKS,
MONTHLY AVERAGES OF WEEKLY FIGURES

WITH

[In millions of dollarsl
Federal Reserve District
Boston
1930
Jan. 8
Jan. 15
Jan. 22
Jan. 29
Feb. 5...
Feb. 12
Feb. 19
Feb. 26
Mar. 5
Mar. 12
Mar. 19
Mar. 26
Apr. 2
Apr. 9
Apr. 16
....
Apr. 23
Apr. 30
May 7
May 14,_
May 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23.—
July 30
Aug. 6_
Aug. 13.
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct«22
Oct. 29
Nov. 5
_
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10
Dec. 17..._
Dec. 24
Dec. 31
Averages:
January
February._
March
April
May
June
July
August
September .
October
NovemberDecember.-

461
491
493
492
478
477
478
479
474
475
478
488
477
492
491
491
477
479
482
492
502
500
501
506
506
510
513
512
513
515
515
518
520
526
525
527
531
531
526
534
534
532
538
541
536
540
537
535
530
523
520
509

New
York

1,822
1,828
1,847
1,829
1,799
1,787
1,790
1,796
1,810
1,867
1,876
1,921

1, 933
1,929
1,904
1,891
1, 909
1,947
1, 950
1,947
1,966
1,951
1,974
2,033
2,035

1,988
1,986
2,007
1,999
1, 992
1,975
2,004
2,001
2,010
1,997
2,005
1,969
1,982
2,016
2,045
2,052
2,095
2,082
2,053
2,046
2,000
1,997
1,927
1,911
1,763
1,756
1,741

484 1,831
478 1,793
479 1,868
486 1,913
488 1,953
503 1,998
512 1,994
520 1,998
528 1,988
533 2,058
539 2,024
524 1,820

™'a-|Cleve- Richphia

land

m o n d lanta

235
235
235
239
239
240
239
239
240
240
241
241
245
243
246
247
241
242
247
250
250
249
253
250
251
249
251
245
248
247
251
253
253
253
255
256
256
256
257
257
256
257
257
257
257
254
252
248
245
243
241
241

227
226
235
240
242
240
241
241
243
243
241
244
243
242
244
244
243
242
243
243
244
244
244
245
245
244
242
243
242
244
243
242
244
242
242
241
241
241
241
241
240
239
239
239
245
237
235
234
234
230
230
229

946
954
973
967
970
992
1,
,013
1,
,031
1,
,024
1,
,019

236
239
240
245
247
251
248
253
256
257
255

1,000

244

232
241
243
243
243
244
243
243
241
240
239
232

274 936
280 932
294 I 942
293 945
295
942
296
948
297
946
297
950
285
946
287
940
293
948
292
982
286
981
286 | 983
297 ! 966
299
965
302 !
966 j
298
297
966
304
968
304
969 j
971 j
307
309
309
310
969
317
985
318
988
319
988
322
998
328 1,001
330 1,008
332 1,016
334 1,015
335 1,015
335 1,021
334 1,027
341 1,037
341 1,037
353 1,034
350 1,023
349 1,022
350 1,021
361 1,022
362 1,018
369 1,025
369 1,021
373 1,013
366 1,010
365 1,010
361 1,005
356
351
285
296
289
294
301
309
321
333
338
353
368
360

San

Minneapolis

Kansas
City

1,297
1,300
1,300
1,284
1,265

229
227
227
231
229
229
229
229
230
230
231
231
231
231
229
230
231
230
229
232
231
227
226
226
227
229
234
235
244
238
237
238
238
239
240
239
239
235
236
235
236
236
236
236
235
233
241
233
232
229
227
226

132
132
133
133
133
134
134
134
130
131
132
133
133
131
131
131
131
129
129
129
128
128
128
129
128
128
129
129
129
129
130
131
131
130
132
133
133
139
141
140
141
141
141
142
143
146
146
152
151
151
150
148

170
170
172
173
174
173
174
175
176
176
177
180
178
178
177
178
178
179
180
180
180
180
182
185
193
192
192
193
193
186
188
189
190
192
208
209
210
210
207
197
195
195
196
199
199
199
198
197
197
195
195
190

136
137
137
139
145
146
144
143
143
143
144
145
146
148
146
146
150
149
150
149
151
152
152
153
151
151
151
152
152
151
151
151
151
151
150
149
148
148
148
149
153
153
152
152
153
153
151
150
150
148
147
147

1,014
1,022
1,021
1,020
1,010
1,008
1,006
1,009
1,015
1,015
1,014
1,020
1,024
1,027
1,025
1,025
1,030
1,023
1,024
1,032
1,027
1,033
1,024
1,011
1,016
1,016
1,011
1,005
1,007
1,005
1,004
1,001
1, 019
1,023
1,022
1,016
1,007
1,024
1,029
1,026
1,016
1,016
1,020
1,025
1,027
1,015
1,028
1,023
1,030
1,032
1,027
1,037

1,176
1,178
1,201
1,202
1,202
1,224
1,332
1,320
1,342
1,338
1,319
1,289

229
229
230
230
231
226
236
238
238
236
236
229

132
133
132
131
129
128
129
131
134
141
144
150

171
174
177
178
180
185
191
190
209
198
199
195

137
145
144
147
150
152
151
151
149
151
152
148

1,019
1,008
1,016
1,026
1,026
1,021
1,009
1,012
1,017
1,021
1,024
1,030

Chicago

1,172
1,174
1,178
1,180
1,177
1,177
1,174
1,183

1,196
1,200
1, 201
1,209
1,210
1, 208
1,210
1,188
1,193
1,195
1,202
1,207
1, 206
1,219
1,219
1,214
1,242
1,304
1,310
1,373
1,354
1,317
1,325
1,319
1,314
1,322
1,344
1,341
1,336
1,345
1,346
1,343
1,341
1,325
1,333
1,323
1,318
1,318
1,315

Louis

al-

Fran-

cisco

Back figures.—See Annual Report for 1929 (Table 106) and Federal Reserve Bulletin for January. 1929.




202

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 113.—REPORTING MEMBER BANKS—RESERVE BALANCES, BY WEEKS, WITH
MONTHLY AVERAGES OF WEEKLY FIGURES
[In millions of dollars]
Federal Reserve District

Boston

1930
Jan. 8-...
Jan. 15...Jan. 22
Jan. 29
Feb. 5
Feb. 12
Feb. 19
Feb. 26
Mar. 5
Mar. 12
Mar. 19
Mar. 26
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7.
May 14
May 21-_
May 28
June4
June 11
Junel8__
June 25
July 2
July 9
July 16.
July 23
July 30.—
Aug. 6Aug. 13
Aug. 20_
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15Oct. 22
—
Oct. 29
.Nov. 5.
Nov. 12
Nov. 19
Nov. 26
Dec. 3
Dec. 10
Dec. 17
--Dec. 24
Dec. 31
Averages:
January
February. _
March
April
May
June
July
August
September October
November.
December. _

New Phila- ClevedelYork phia land

79
79
77
77
78
76
101
77
98
75
97
81
97
101
77
97
79
77
81
78
77 i
99
80
78
79
82
101
78
96
72
92
83
95
82
83
81
94
83
105
82
98
90
100
81
98
82
96
814
98
80
100
852
83
85
98
847
82
95
870
831
84
97
363
86
98
877
87
99
886
84
97
863
85
99
859
84
100
860
83
102
85
886
101
942 | 84
98
857 | 85
99
88
105 , 930
85
107 I
82
98 1
88
99 I 867
905
89
99
86
100 I 904
97 | 848 82
107 i 921
106
102
101

826
807
792
809
800
805
845
788
818
778
814
826
813
824
811
849
805
825
828
848
845
859
851
857
864 j
829 j
878 !

102 j 808
815
98 | 800
98 I 825
826
853
96
870
100
846
864
882
100
892
102
100

78
76
78
79
78 !
82 '
84
82
85
84
85

128
124
128
126
129
127
131
124
129
130
121
130
133
129
132
120
130
135
128
138
137
138
136
141
142
141
146
145
142
144
141
141
147
143
147
147
144
141
138
141
147
144
146
141
136
139
138
139
139
136
136
134
127
128
128
129
134
139
144
143
145
143
138
137

Rich- Atlan- Chica- St.
mond
ta
go
Louis

i
!
|
I

38
38
40
41
41
42
38
42
40
39
40
40
42
42
40
40
43
41
42
39
42
41
41
40
42
40
41
40
40
40
39
40
40
41
38
40
38
39
41
40
39
39
40
40
41
41
41
41
40
39

!
j

!
|
!
j
i
!
'
;
|
|
!
!
j
j
!
i
!
|
!
i
!
:
I
i
i
j
\
!
i
:
I
i
!
i
:
i

40
41
43
40
40
39
40
39
40
40
40
40
39
40
40
40
41
43
41
39
39
40
39
40
39
39 |
41 '
40
39
38
36
38
40
39
41
39
39
40
38
40
38
39
36
39
36
39
37
39
39
38
39
40

41 i
39 i
40 !
40,
40
39
39 !
38 !
39 |
38
38 |
39 i

251 !
246
257
249
245
243
239
246
249
257
244
251 j
259
253 !
263
269
281
260
270
271
256
264
266
267
261 i
260 I
288 ;
274
266
268
282
273
279
278
271
268
275
262
255
269 !
279 !
267 I

Min- Kannesas
apolis City

45
46
45
45

44
41
45
42
43
269
43
277
44
42
264
263 ! 43
272 | 45 I
270
46 !
46 i
275
45 ;
265
287 ! 45 ;
I
251 | 45 :
44 !
243
45 !
250
265
46
264
45 ;
264
46 •
271 j 44 !
278
43
269 I 45 !
267 ! 43
268 ! 43
274 I 45

San
Francisco

26 j 58
26 I 60
23
60
25
24
25
24;
27
26
26
26
25
28
27
27
29
28
28
27
27
27
26
28
25
24

33
33
33
34
33
32
34
33
37
34
33
39
33
33
33
34
34
34
33
35
34
33
32
31
33
33
33
34
34
32
32
32
34
33
34
35
35
36
33
33
37
33
34
32
33
33
34
34
32
35
33
32

114
107
112
108
108
114
110
109
102
108
> 97
103
105
105
105
106
99
107
108
105
101
106
108
104
104
104
107
107
105
102
105
104
110
109
104
113.
Ill
105
108
111
110
106
105
102
110
110
109
111
112
110
108
107

25
24
26
26
26
26
25
24
26
27
28
26

33
33
36
33
34
32
33
33
35
34
33
33

110
110
103
104
105
106
105
107
108
108
108

26
23
27
25
23
24
25
25
27
26
26
26
24
25
27
27
26
27
25
25
26
27
26
27
25

44
43
45

Dallas

23 I
24 I

!
i
i
j
|
1
j
I
!
i

56
57

Back figures.—See Annual Report for 1929 (Table 107) and Federal Reserve Bulletin for January, 1929.



203

REPORTING MEMBER BANKS IN EACH DISTRICT

Ho. 114.—REPORTING MEMBER BANKS—BORROWINGS AT FEDERAL RESERVB
BANKS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES
[In millions of dollars]
Federal Reserve District
!
Boston
1930
Jan. 8
Jan. 15
Jan. 22
Jan. 29 . . .
Feb 5
Feb.12
Feb. 19
_
Feb. 26
Mar. 5
Mar 12
Mar 19
Mar. 26
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7
May 14
M a y 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23
J u l y 30
Aug 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24 . .
Oct. 1 .
Oct. 8
Oct.il5
Oct. 22 . .
Oct. 29
Nov. 5
Nov. 12
Nov. 19... .
Nov. 26
Dec. 3 . .
Dec. 10
Dec. 17
Dec. 24 . .
Dec. 31 . .
Averages:
January
February..
March
April
_.
May
June
July
August
September.
October
November.
December..

Min- KanNew- Phila- Cleve- Rich- Atlan- Chica- St.
sas
nedelLouis apolis City
ta
York phia land mond
go

6
4
5
9
5
5
6
8

94
35
55
32

25
23
19
16
15
14
12
12

59
53
42
46
45
36
28
24

8
5
5
3
4
4
6
5

23
20
12
14

18
14
8
8
9
7
9
8
7
6
5
4

14
12
7
3

26
17
6
3

15
13
13

4
3
5

4
2
3

3
2
8

27
38
22

5
4
4

6

4
3
4
4
4

12
17
32
5
2
22
23
g
1
8

4
4
4
4
4
5
3
3
2
3

10
7
9
9
4
8
4

4
7
6
4
4
2
5

7
7
14

4
4
6

8
10
9
8
9
11
14

6
4
4

3
3
3

7
7
7

3
3
3
2
2

8
5
3

1
1
1

5
10
24

1
1
1

4
3
6

2
2

12
12

3
5
4
4
3

4
7

8
9

5
5
3
2
4
7

5
5
4
4
4
4

8
11
11
7
8
10

11
10

6
6

8
9

2
1
1

2
1
1
2
3

9
42
5
3
5
3
4
36
11

16
33

1
1
3
1
1
1
1
2

3
3

3
2
2

8
11
13

4
5
6

1
1
1

4
1
1

16
13
9

4
3
1
2
3
2

1

3
6
4

5
4
2

1
1

3
4
1
3
5
4
5

3
2
4

11
9
7
11
10
10

18
20
8

4
4
3

6
7
7
4
5
4
5

8
9
9

3
3
1
1
1
7
4
3
2

4
5

1

21
14
12
13

12
9
7
8

14
15
8
10

7
6
10
6
6
5
2
1

It

1
1
2

1C

2
4
3
4
4
4
3
4
2
2
2
2
1
1

5
5
7

44
49
11

2
1
3
3
1

7
7
5
6
7

54
37

13
13

45
32

50
33

5
5

6
4
4
3
2
1
1

17
12
7
8
9
4
4

12
8

21
13

7
23
15
9
12
14
14

9
6
9
10
9
8
9

13
5
5
4
4
2
2

3
3
3
4
3
2
5

10
11

5
10

9
12

5

22

14

16

4
4

6
4

8

2

a

4

15
12

9
7

5
2
4
3
1

1

3
1
1
1
2
3
2

1
5

2
2

6

2

.Bacfc figures.—See Annual Report for 1929 (Table 108) and Federal Reserve Bulletin for January, 1929.




]
]

2
2
1
2
1

5
5
7
14
8

2
3

1

2
2
3

18
17
15
16
12

14
17

]

2
1
2
2
1
3

12
14
16
20
8

40

1(

3
3

2
3
2
13
5

2
2

1
]
1
J

2
4
4
4

3

]
t

1
2

6
5
3

5
4
4
5
5
5
5

1

1

5
3

3
3
4

5
4
5
4
3
2
2

3
3
3

I

I

2
3
2

10
14
15

6
6

2
2
2

1(
i
1

1

6
10
16

2
2
3
8
2

2
1
2

2"

3
3
2
2
2
1

11
10
15
18
16
25
29
19

12
10
13
21
37
38
89
17

1
1
2
1
1
1
1

3
3

2
4

1
4
4
5
5
7

San
Francisco

10
5
3
3
2
2
2

2
2
3

5
4
3

2
3
4

7
2
3
2

3
3
3
2

50
51
42
36
33
34
31
30

6
7
4
4

17
47
58
25
9
6
4
9

17
11
13
12
11
14
12
16
8
9
5
4

Dallas

1
1
1
1

2

13
7
6
6
2
2
2
1
1
1
2
23

204

ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD

BANKERS' BALANCES OF REPORTING MEMBER BANKS,
BY DISTRICTS
No. 115.—REPORTING MEMBER BANKS—DUE TO BANKS, BY MONTHS, 1929

1930 (1929-30 BASIS)
[Monthly averages of weekly figures. In millions of dollars]
Federal Reserve District
Month

1929
January
February
March
April
May
June
July.
August.
September
October
November
December
1930
January—
February
March
April
May
June
July
August
September
October.
November
December

Boston

•
_

__

_

_

New Phila- Cleve- Rich- AtYork phia land mond ! lanta

Chicago

a+
T ^:,_
Loms

! Min- ! Kanneapo-i sas
Us | City

1,071
1,008
971
930
869
851
992
882
944
1,081
1,188
1, 036

178
163
153
155
153
153
160
155
158
162
171
170

223
214 '
207
201 !
194 I
189 '
198
199 I
202 !
197 I
188
189

108 !
103 ;
100 I
97 !|
90
91 I
92 !
89 !
93 !
101 i
103
103

123
117
119
108
96
94
88
87
99
111
110
111

471
459
477
448
429
432
434
433
440
432
417
423

148
143
130
118
109
106
106
102
106
125
125
124

89
85
90
78
70
70
74
77
83
79
77
82

992
125
122
963
117 1,013
130 1,049
118
125
138 .,186
129 ,082
130 .,159
141 ,235
147 .,279
134 ,254

167
171
169
173
164
176
208
220
227
234
222
225

197
208
217
232
246
277
335
343
371 i
357
330
299

99
96
97
98
96
98
110
108
113
119
119
106

119
113
111
109
100
97
99
97
104
108
104

422
431
462
459
456
482
512
518
528
502
494
490

134
131
123
121
117
121"
129
126
125
126
123
117

76 75 :
81 :
78;
73 j
80
80 |
82 :
89 !
85;
90 j
84 ;

120
110
106
110
107
108
117
106
115
128
140
129

i
i
|
i
!
!
I
;
|
:
!
i

las

! Cisco

224
220
210
190
178
182
215
220
202
204
201
209

117
108
99
86
78
75
76
71
87
106
100
101

!
j
i
j
|
i
i
i
i
|
I
i

202
190
198
186

203
203
199
190
186
195
231
246
244
223
218
209

92 i
98 !
91 j
89 |
86 j
87 I
91 !
92
109
119
118
114

202
206
219
215
229
243
285
292
306
297
28ft
262

na
181
187
183
188
188
188207

19291

No. 116.—REPORTING MEMBER BANKS—DUE FROM BANKS, BY MONTHS,

AND 1930 (1929-30 BASIS)
[Monthly averages of weekly figures. In millions of dollars]
Federal Reserve District
Month

1929
January
February
March
April.
May
June
July
August.—
September
October...
November
December
1930
January...
February
March
April
May
June
July
August
September
October..
November
December

Boston

162
148
161
154
136
151
154
129
147
178
172
139

__
._

_
-

New Phila- Cleve- Rich- AtdelYork phia land mond lanta

52
45
50
61
54
61
67
66
73
86
113
87

66
59
57
62
62
59
59
55
59
60
60
62

106
107
103
98
92
93
96
90
93
96
95
91 i

117
115
136
165
157
159
170
150
157
174
161
164

60
57
61
63
64
75
99
97
92
95
105
90

92 i
91 !
97
104
110
117
141
131
142
134
140
115

54
51
50
48
46
47
49
46
48
52
53
53 I

86
82
81
77
70
71
67
65
74
79
82
78

Min- KanChist
sas
cago Louis neapo- City
lis
235
234
232
242
210
204
209
205
212
219
219
204

59
54
57
56
54
52
51
45
52
64
62
61

191
220
213
203
197
215
295
253
281
271
273
257

59
56
56
54
62
70
65
70
81
82
85

Backfigures.—SeeAnnual Report for 1929 (Tables 109 and 110).



51
49
47
46
46
49
53
51
54
54
54
52

|
i
i
:
!
!
S
|
j
!

»

118
118
109
105
108
119
119
117
123
126
127

119
119
127
122
121
144
183
200
211
195
179
162

Uttl*

las

San
Francisco

67
64
64
58
55
53
52
50
59
63
59
62

58 |
63 I
79 |
70
73 I
82 j
93
90 I
105 |
108 !
101 i
103

149
142
143
13d
135
149
153
145
156
155
156
177

168
167
164
162
175
183
223
228
235
220
211
204

205

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
BANK SUSPENSIONS
No. 117.—BANKS SUSPENDED AND REOPENED, BY DISTRICTS,
Class of bank and Federal reserve
district
Number
All banks, total
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas .
San Francisco
Member banks, total
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco

Capital i

Deposits

$6,802,000 $61, 599,000
4, 867,000

2
12
16
27
52
7
25
4
1

667,000
907,000
1,730,000
2, 249,000
270,000
699,000
115,000
15,000

150,666

1,344,000
5,416,000
4, 534,000
17, 271,000
16,140,000
2,851,000
7, 824,000
1,094,000
258,000

380,440,000
852,000
162,437,000
352,000
10,940,000
21, 584,000
31,883,000
26, 666,000
96,024,000
3, 515,000
7,912,000
12,158,000
6,117,000

7

450,000

3, 538,000

1
2
2
1

25,000
50,000
190,000
85,000
100,000

397,000
133,000
1,439,000
559,000
1,010,000

173, 290,000
852,000
1,158,000
352,000
10,423,000
21, 012,000
30,511,000
21,241,000
59,458, 000
3,134, 000
7, 912, 000
12,136, 000
5,101, 000

5

310,000

1,872,000

100,000
230,000
150,000
800,000
2, 670,000
3,030,000
2, 770,000
6, 795, 000
420,000
795, 000
1, 390, 000
525,000

1
1
1
2

50,000
150,000
85, 000

25.666

397,000
133,000
783,000
559,000

26~

30, 735, 000

207,150,000

2

140.000

1, 666, 000

2

25, 350, 000

161, 279, 000

I
1

I1

50, 000
100, 000
270, 000
500, 000
4,190, 000
25,000

572, 000
1,372,000
5, 425, 000
36, 566, 000
381,000

1
2

225,000

1,016,000

61, 233, 000

484, 275, 000

2 190 000
2, 908, 000
6, 455, 000
3,050, 000
6,863,000
7,102, 000
11,818, 000
12, 606, 000
3, 012, 000
2, 967, 000
716. 000
1, 546, 000

35,306 000
24,862,000
43, 069, 000
30, 926,000
64, 056,000
59, 268, 000
84, 613, 000
86, 212, 000
20, 594,000
21, 014, 000
4, 327, 000
10,028,000

50,410,000
100,000
25, 580,000
150,000
850,000
2, 770,000
3,300,000
3, 270,000
10, 985,000
445,000
795,000
1,415,000
750,000
19, 675,000

I

National bank members, total
Boston
New York
Philadelphia
Cleveland
Richmond _
Atlanta
Chicago
St. Louis
_.
Minneapolis
Kansas City
Dallas
San Francisco
..
State bank members, total
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
_.
Chicago
St. Louis
Minneapolis
_ _ _
Kansas City
Dallas
San Francisco
Nonmember banks, total
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
_
_.
Kansas City
._
•
_
Dallas
San Francisco

Deposits

2

21

147

187

_.

Capital 2

Number

1,345 i$lll,643,000 $864,715,000
2, 290,000
36,158,000
112
11
28 488,000 187, 299,000
43,421,000
6,605,000
10
3,900,000
41,866,000
41
9,633,000
85, 640,000
152
10,402,000
91,151,000
140
15,088,000 111,279,000
266
23, 591,000 182,236,000
358
24,109,000
3,457,000
156
3, 762,000
28,926,000
137
16,485,000
41
2,131,000
16,145,000
21
2,296,000

,.

1930

Banks reopened

Banks suspended

9
22
22
32
43
16
15
17
5
161
1
2
1
8
21
17
28
34
15
15
16
3

5

1,158
i 11
7
9
32
130
118
234
315
140
122
24
16

25, 666

I"

517, 666
1

40,000

656, 000

1

100,000

1,010,000

140 6,352, 000
2 1

IB, 061,000
4 867 000

22, 666

2
11
15

SI
£4
•1

150, 000
642,000
857,000
1,540,000
2,164,000
170,000
699, 000
115, 000
15,000

1, 344, 000
5, 019, 000
4,401,000
15,832, 000
15, 581,000
1,841,000
7,824, 000
1, 094, 000
258,000

1 Includes 2 m u t u a l savings b a n k s (without capital stock) and 8 private b a n k s for which capital figures
are not available.
2
Includes 1 m u t u a l savings b a n k (without capital stock).
Back figures.—See A n n u a l Reports for 1929 (Table 111), 1928 (Table 115), 1927 (Table 111), and 1926
(Table 98).




206

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 118.—BANKS SUSPENDED AND REOPENED, BY STATES,

1930

[Figures are for member and nonmember banks]
Banks suspended

Banks reopened

State
i Number

Deposits

Capital i

Number Capital *

Deposits

I

United States. _.
New England:
New Hampshire..
Vermont.-.
Massachusetts
Connecticut
Middle Atlantic:
New York
New Jersey.
Pennsylvania
East North Central:
Ohio
_
Indiana..
Illinois
Michigan
Wisconsin
West North Central:
Minnesota
Iowa
Missouri
_.
North Dakota
South Dakota
Nebraska
Kansas
South Atlantic:
Maryland
Virginia...
West Virginia
North Carolina._.
South Carolina....
Georgia
Florida
East South Central:
Kentucky
Tennessee
Alabama
Mississippi
West South Central:
Arkansas
Louisiana
Oklahoma
Texas
Mountain:
Montana
Idaho
Colorado
Arizona
Utah
Pacific:
Washington
Oregon...
California

1,345 i $111,643,000 $864,715,000

150,000
300,000
2,040,000

11,400,000
1,768,000
10,010,000
15,663,000

27,988,000
400,000
7,405,000
2,760,000
4,992,000
9,344,000
961,000
772,000

29,302,000
38,108, 000
63, 098, 000
6,535,000
8,904,000

22
86
104
60
54
44
43

370,000
4,029,000
3,033,000
1,115,000
1,362,000
1,216,000
1, 241,000

3,268,000
30,062,000
19,356, 000
5,167,000
11,409,000
9,810,000
10, 545,000

39

100,000
925,000
1,025,000
6,173,000
1,410,000
1,453,000
4,838,000

4, 650, 000
5,835,000
10, 274,000
57,402,000
7,479,000
6,478,000
44,427,000

29
28
34
52

7,677,000
2,197,000
1,850,000 I
2,913,000 I

5,902,000
540,000
685,000 !
1,661,000 j
405,000
25,000 i
115,000
415,000
275,000

1,599,000

183,600,000
2, 566,000
51, 607, 000

25
90
126
21
24

147 2 $6,802,000

3
19 |

2!
20 I
10

93 I
27 i

31 I

135
9
23
34
11
1
5
5
3

120,000
45,000
1,416, 000

4,867,000

150, 000 1,344,000
1,205,000 10, 261,000
880,000 7, 631,000
656,000
40,000
470,000 5, 557,000
125, 000

1,320,000

20,000
20,000
20,000
639,000
45,000

98,000
136,000
263,000
7,304,000
447,000

200,000

967,000

75,000
345,000
47,000
75,000
680,000

660,000
3,321,000
468,000
202,000
3, 577,000

63,190,000
27,740, 000
9,375,000
27,428,000

350,000
187,000
85,000
50,000

2,459, 000
1,167,000
205,000
263,000

47,297,000
5,993,000
4, 507,000
11,451,000

909,000
70,000
15,000
85,000

6,540,000
801,000
73,000
754,000

15,000

258,000

2,367,000
46,000
499,000
3,064,000
1,969,000

2
7
2 i
2!

1,066,000
174,000
9,826,000

1 Includes 2 mutual savings banks (without capital stock) and 8 private banks for which capital figures
are not available.
2
Includes 1 mutual savings bank (without capital stock).
Backfigures.—SeeAnnual Reports for 1929 (Table 112), 1928 (Table 116), 1927 (Table 112), 1926 (Table
100), and 1925 (Tables 97 and 1928).




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

207

EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS
No. 119.—MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL

RESERVE DISTRICTS, 1926-1930
[In thousands of dollars]
District and year ending June 30
Boston:

Net
Net adDiviTotal
I Gross
losses
Total
dends
net
earnings expenses earnings charged dition to declared
profits
off
138,040
148,413
159, 629
168,442
171,324

100,017
107,527
114,499
116,254
119, 246

38,023
40,886
45,130
52,188
52, 078

9,850
15,337
13,309
24, 371
26, 596

28,173
25,549
31,821
27,817
25,482

18,641
20,145
20,859
22,333
30, 760

564, 605
607,316
668,002
766,914
809, 381

380.170
409, 335
444, 702
499,151
533,002

184,435
197,981
223,300
267, 763
276,379

34,914
29,600
37, 741
42,177
79, 580

149, 521
168,381
185, 559
225, 586
196,799

89,147
97,859
107, 226
124,797
152, 510

148,480
155,340
161, 382
170,503
175,940

96,326
102,921
108,009
114,916
116.957

52,154
52,419
53,373
55,587
58,983

6, 519
6,702
8,375
12,096
13,875

45,635
45,717
44,998
43,491
45,108

24,533
26,493
26,807
29,314
34, 225

204,532
213,798
220,115
230,196
231,889

149,059
155,507
162, 218
167,874
166.958

55,473
58, 291
57,897
62,322
64,931

12, 512
16,031
13,713
14,016
20,287

42,961
42, 260
44.184
48,306
44,644

28,416
27,636
28,737
29,751
31,513

83,082
84,385
87,233
86,8£0
80, 222

1926
1927
1928
1929
1930
New York:
1926
1927
1928
1929

59,692
60,973
63,227
64,126
59,240

23,390
23,412
24,006
22,764

6,609
7,216
7,847
7,499
8,561

16, 781
16,196
16,159
15,265
12,421

15,618
13, 096
12,756
13,782
12, 712

Philadelphia:
1926
1927
1928
1929
1930
Cleveland:
1926
1927
1928.
1929
1930
Richmond:
1926
1927
1928
1929
1930.
Atlanta:
1926
1927
1928
1929
1930-.
Chicago:
1926
1927
1928
1929
1930 _
St. Louis:
1926..
1927
1928.
1929_.
1930

89,091
83, 277
83,018
85,202
79, 391

61,743
60,993
61,537
63,487
59,153

27,348
22, 284
21,481
21,715
20, 238

7,793
9,225
8,599
8,887
17,358

19, 555
13,059
12,882
12,828
2,880

11,908
12,208
11,247
12,575
11,178

284,142
296,084
311, 247
339,690
331, 264
85,605
86, 541
87,894
91,146
88,424

209,295
218,617
232,407
235,179
237, 378

74, 847
77,467
78,840
104,511
93,886

15,684
18, 282
19,602
25,549
33, 995

59,163
59.185
59,238
78,962
59,891

35, 291
35, 317
45,198
49,882
49, 796

6,165 i 17,068
15,211
6,842
17, 507
5,786
19,385
6,093
16,171
7,654

1926
1927.
1928
1929
1930

56,983
55, 750
57,354
60,654
63,198

Minneapolis:

Kansas City:
1926..
1927
1928
1929
1930.
Dallas:
1926.
1927..
1928
1929
1930
San Francisco:

1926
1927
1928
1929
1930..

_

62,372 I
64,488 ,
64,601
65,668 I
64,599 |

23,233
22,053
23,293
25,478
23, 825

5,635
6,506
5,729
9,488
6,556

6,563
6,181
7,901
7,136
10,684

11,685
13, 746
12,988
13,321
15, 736
5,544
5,699
5,780
7,326
7,717

11,899
13,063
9,671
9,009
9,848

7,657
8,603
11, 536
16,196
15,513

8,031
8,347
9,821
12,049
12,445

81,780
83,067
84, 241
88,814
88, 360

44,785 j 12,198
43,063
12, 687
43,724
13, 630
44,030
16,624
45,958 ! 17, 240
I
62,224 I 19, 556
61,401 I 21,666
63,034
21, 207
63,609
25,205
62,999
25,361

63,193
61, 370
64, 591
71, 746
70,979 '

43, 215
43,872
44,939
48, 281
49,007

19,978
17,498
19,652
23,465
21,972

7,674
8,480
9,044
8,287
9.777

12, 304
9,018
10, 608
15,178
12,195

9,467
8,289,
9,156
10,233
10, 201

140, 208
146,504
160,441
159,199
162,820

43,476
47,025
48, 280
52,250
55, 340

14, 449
16,968
20, 323
17,018
17,122

29, 027
30,057
27,957
35, 232
38, 218

21, 077
22,231
33, 713
38,981
28,901

183, 684
193, 529
208, 721
211,449
2J 8,160

Back figures—See Annual Report for 1927 (Table 118).
Ratios.—For district ratios of figures given, which relate to fiscal years, to average earning assets, etc.*
see Federal Reserve Bulletins as follows: 1928—December, p. 879; 1927—January, pp. 26-28; December,
pp. 883-884; 1929—December, pp. 872-873.




208
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
120.—NATIONAL
BANKS 1 —EARNINGS, EXPENSES, AND DIVIDENDS,
FEDERAL RESERVE DISTRICTS, 1926-1930

BY

[In thousands of dollars]
Net addition to

District and year ending June 30

Boston:
1926..
1927.
1928..
1929..
1930.
New York:
1926_.
1927.
1928..
1929..
1930.
Philadelphia:
1926..
1927..
1928..
1929.
1930.
Cleveland:
1926-.
1927. .
1928_,
1929_.
1930.
Bichmond:
19261927.
1928.
1929.
1930..
Atlanta:
1926.
1927.
1928.
1929.
1930..
Chicago:
1926. .
1927.
1928.
1929.
1930..
St. Louis:
1926_.
1927.
1928..
1929-.
1930.__
Minneapolis:
1926..
1927.
1928-.
1929..
1930.

Kansas City:

1926..
1927.
1928..
1929-.
1930-.
Dallas:
1926..
1927.
1928..
1929.
1930..
San Francisco:
1926. .
1927..
1928.
1929.
1930..
1

profits

92, 214
98,200
106,268
111, 799
117.455

65,676
69,154
74,620
75,539
80,141

26, 538
29,046
31,648
36, 260
37, 314

19, 641
16, 330
20, 809
17,552
15, 233

290,138
302, 553
326, 641
343, 545
351, 352

13, 642
14, 243
14,654
15,854
22, 710

71,556
,151
82,943
90,467
63. 728

105,882
109,098
110, 689
114, 627
114,

68,117
72, 713
73,915
77, 789
76, 608

37, 765
,385
36,774
36,838
38, 060

31, 990
30, 982
30, 353
28,673
28, 052

16,105
17, 842
17,168
19,443
22, 603

110,461
112, 423
113,341
116,059
116.353

79,730
81, 023
82, 202
84,103
82, 688

30,731
6,953
31,400
11, 049
31,139
8, 061
31,956
8,797
33,665 i 12, 695

23, 778
20, 351
23, 078
23,159
20,970

16,744
15,286
15,121
15, 072
16, 001

68,353
68, 658
70, 610
69,466
63, 613

48, 801
49, 559
51, 366
51,117
46,506 i

19,552
19,099
19, 244
18,349
17,107

5,602
,077
5,860
6,018
6,209

13, 950
13,022
13, 384
12, 331
10, 898

59,757
58,473
62, 438
63, 968
61, 567

41,152
42,919
46, 224
47, 395
45, 568

18, 605
4, 508
15, 554
,077
16, 214
6,486
16, 573
6,831
15,999 I 10, 863

14, 097
9,477
9,728
9,742
5,136

8,388
8,819
8,392
9,946
8,999

143,770
149,420
160, 244
185, 001
167,679

106, 111
109,604
118,428
122, 012
119,935

26, 434
28,813
27,886
44,
24, 670

19, 653
19,574
27,679
27, 530
23, 483

49,459
51, 376
53,184
55,801
51,377

35,875
38,863
39, 094
40,083
37, 253

8,752
10,538
11,834
9,189

7,537
9,394
8,722
8,815
10. 070

52,128
51,711
53,376
56,263
59,131

40, 961
39,915
40, 761
40,933
43,114

6,305
6,030
7,
6,244
10, 059

5,183
5,379
5,461
6,936
7,267

73,280
74, 233
75,636
80,532
80. 243

55, 459
54,815
56, 553
57,300
56, 782

17,821
19,418
19,083
23, 232
23, 461

11,315
11,822
8,530
8,607
9,451

6,506
7,596
10,553
14,625
14. 010

7,058
7,397
8,867
11,104
11,434

59,006
58,053
61, 111
67, 506
65, 527

40, 326
41,355
42, 535
45,477
45, 278

18,680
16, 698
18, 576
22,029
20, 249

6,799
7,863
8,046
7, 566
8, 636

11,881
8,835
10, 530
14,463
11,613

9,123
8,022
8,806
9,719
9, 595

87,079
108, 064
150, 025
158,891
175, 776

65, 297
80,060
114,048
118,458
129, 244

21,782
28,004
35, 977
40,433
46, 532

8,662
10, 267
13,346
13,000
14, 445

13,120
17,737
22,631
27,433
32,087

10,429
13, 279
27,224
34,003
25, 739

13, 584
12, 513
14,090
15, 718
14,124

Member banks only, i. e., exclusive of national banks in Alaska and Hawaii.
Backfigures.—-tieeAnnual Report for 1927 (Table 119).




Dividends

declared

209

EARNINGS AND EXPENSES OF MEMBER BANKS

LVO. 121.—STATE BANK MEMBERS—EARNINGS, EXPENSES, AND DIVIDENDS, BY
FEDERAL RESERVE DISTRICTS, 1926-1930
[In thousands of dollars]

District and year ending June 30

Boston:
1926.
1927
1928
1929_
1930
New York:
1926..

1927
1928
1929
—
1930
Philadelphia
1926
L927.
1928.
1929.
1930__
Cleveland:
1926
1927.
1928
1929
1930
Richmond:
1926.
1927.
1928
1929
1930
Atlanta:
1926.
1927
1928_
1929
1930-.
Chicago:
1926_
1927
1928
1929
1930
St. Louis:
1926.
1927
1928
1929
1930
Minneapolis:
1926.
1927__.
1928
1929
1930
Kansas City:
1926
1927.
1928.
1929
1930
Dallas:
1926.
1927.
1928
1929.
1930
San Francisco:
1926.
1927
„
1928.
1929
1930
1

Total
! Gross
Total
net
earnings expenses earnings

DiviNet addition to dends
profits declared

34, 341
38, 373
39,879
40,715
39,105

11,485
11,840
13,482
15,928
14, 764

2,953
2,621
2,470
5,663
4, 515

8,532
9,219
11,012
10,265
10, 249

4,999
5,902
6, 205
6,479
8,050

274,467 186, 448
304,763 ! 207,443
341,361 ! 227, 317
423,369 i '
273,073
458,029 | 298,915

88,019
97,320
114,044
150,296
159.114

10, 054
13,090
11,428
15,177
26, 043

77,965
84, 230
102, 616
135,119
133,071

42,964
47,421
54, 730
72,212
84, 266

28, 209
30, 208
34,094
37,127
40, 349

14,389
16,034
16, 599
18,749
20,923

744
1,299
1,954
3,931
3,867

13,645
14, 735
14, 645
14,818
17, 056

8,428
8,651
9,639
9,871
11, 622

! 69, 329
74,484
[ 80,016
i 83, 771
] 84, 270
10,891
14,729
11,414
15, 727
11,861
16, 623
13,009
17,424
12, 734
16, 609
20, 591
29,334
18,074
24,804
15, 313
20,580
16,092
21, 234
13, 585
17,824

24,742
26, 891
26, 758
30,366
31,266

5,559
4,982
5,652
5,219
7, 592

19,183
21,909
21,106
25,147
23, 674

11,672
12,350
13, 616
14,679
15, 512

3,838
4,313
4,762
4,415
3,875

1,007
1,139
1,987
1,481
2.352

2,831
3,174
2,775
2,934
1,523

2,028
2,140
2,133
2,261
2,514

8,743
6,730
5,267
5,142
4.239

3,285
3,148
2,113
2,056
6.495

5,458
3,582
3,154
3,086
i 2, 256

3,520
3,389
2,855
2,629
2,179

140,372
146,664
151.003
154, 689
163, 585

103,184
109, 013
113,979
113,167
117.443

37,188
37, 651
37,024
41, 522
46,142

32,729
30,372
31, 352
33,977
35, 221

36,146
35,165
34,710
35,345
37, 047

26,497
25, 625
25, 507
25, 585
27, 346

9,649
9,540
9,203
9,760
9,701

7,384
6,459
6,969
7,551
6,982

15, 638
16, 743
17, 519
22,352
26, 313
4,148
4,352
4,266
4,506
5, 666

4,855
4,039
3,978
4,391
4,067

3,824
3,148
2,963
3,097
2,844

1,031
891
1,015
1,294
1. 223

4,459
7,279
5, 672
7,545
10, 921
2,265
3,081
2, 234
2,209
2, 719 j
773 !
740 i
603
402
598 j

258
151
412
892
625

361
320
319
390
450

8,500
8,834
8,605
8,282
8,117

6, 765
6,586
6,481
6,309
6, 217

1,735
2,248
2,124
1,973
1, 900

584 i
1,241
1,141
402
397

1,151
1,007
983
1,571
1, 503

973
950
954
945
1,011

4,187 |
3,317
3,480
4,240
5, 452

2,517
2,404
2,804
3,729

1,298
800
1,076
1,436
1.723

875
617
998
721
1,141

423
183
78
715
582

344
267
350
514
606

74,911
96, 605
66,444
85,465
58,696 ! 46, 393
40, 741
52, 558
33, 576
42. 384

21, 694
19,021
12,303
11,817

5, 787
15,907
6,701
12,320
6,977
5,326
7,799
4,018
2,677 | 6,131

10. 648
8,952
6,489
4,978
3,162

45,826 I
50,213
53,361
56,643 I
53. 869

42,598
46,242
50,693
55,876
61,272

!
I
;
;
i

94,071
101,375
106.774
114,137
115,536

Net loss.
Back figures,—Sue Annual Report for 1927 (Table 120).




Net
losses
charged
off

j
j
!
j




BUSINESS CONDITIONS

211

BUSINESS CONDITIONS
No.

122.—CAPITAL. ISSUES

[Exclusive of refunding issues. In millions of dollars
Domestic issues *
Corporate

Total,

Year and quarter

domestic
and
foreign

Total«

Government
(municipal)

Foreign
issues 2

Bonds and notes
Total

Long
term

Short
term

Stocks

YEAR
4,395
4,440
5,557
6,205
6,282
7,489
7,979
10, 005
6,918

1922
1923
1924_
1925
1926
1927
1928
1929
1930

3,631
4,019
4,588
5,129
5,157
6,152
6,728
9,334
6,013

1,645
1,989
2,200
2,452
2,667
3,182
2, 378
2,068
2.980

1,072
1,043
1,380
1, 356
1,312
1,423
1,387
1,398
1,441

First
Second
Third
Fourth

570
659
829
1,152
1,087
1,460
2,900
5,868
1,503

1,
1,
1,
1,

764
421
969
076
125
337
251
671
905

I

QUARTER

First
Second
Third
Fourth

104
144
276
221
249
221
210
205
520

1,540
1,846
1,924
2, 231
2,418
2,961
2,168
1,863
2,460

1922

292
323

343 i
597 !
287
313 i

50
39
5
10

92
155
213
110

284
287
80
113

448
314
559

374 i
303 I
541 i

41
74
11
18

212
164
65
218

145
57
81
138

255

574
624
420
582

491 ;
542
375 i
516 I

83
82
45
66

178
322
111
219

156
113
236
4(34

1,357
1,373
1,061
1,338

319
416
324
297

737
623
496
597

654
587
459
532

83
36
37
65

244
290
232
386

228
212
292
344

1,797
1,755
1,255
1,476

1,603
1,420
988
1,146

331
378
296
307

744
515
620

692
672
483
571

96
72
32
49

446
263
165
214

194
335
267
330

2,020
2,067
1,343
2,059

1,687
1,718
1,108
1,640

327
489
282
326

834
824 I
508 I
796 !

37
69
55
60

458
318
258
425

333
349
235
419

1,707
2,350
1,128
2,795

1,404
1,806
989
2,529

357
399
204
427

607
402

569 I
335 j
636 '

54
38
67
52

359
770
381
1,390

303
544
139
266

2,727
2,535
3,045
1,698

2,463
2,341
2,965
1,565

236
415
253
494

616
413

625
539
382
318

I
i
|
I

37
77
31
61

1,565
1,313
2,301
690

264
194
80
133

2,110
2,677
1,117
1,014

1,841
2,247
1,017
908

304
431
267
440

1,115
985
563
316

782 I
454 I
195 I

87
203
109
121

399
820
172
111

269
430
100
106

1,160
1,540
940
755

876
1,253
860
642

285
358
253
176

!
!
I
!

1,398
1,109
644
1,290

1,253
1,052
563
1,152

240
333
177 |
293 i

1,276
1,601
1,135
1,546

1,120
1,488
899
1,082

293
489

1,585
1,585
1, 353
1,682

393

1923

First
Second
Third
Fourth
First
Second

1924

1925

Third.
Fourth.

First .
SecondThird __
Fourth.

1926

1927

First.
Second _
Third...
Fourth.

871
563
856

1928

First..
Second.
Third...
Fourth.

1929

First..
Second.
Third...
Fourth.

1930

First..
Second.
Third...
Fourth.
1
2
3

Source: Commercial and Financial Chronicle.
Compiled by Department of Commerce.
Includes issues of Federal land banks and Federal intermediate credit banks not shown separately.




213

214

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No.

123.—SECURITY

PRICES

[Index numbers of the Standard Statistics Co. Monthly data are averages of weekly figures]
Common stocks
(1926=100)3

rial

o
to

Year and
month

Total

-3
§
1919
1920....
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

88.3
80.8
81,8
92.4
91.8
93. 5
95.3
97.0
98.9
98.7
95.7
98.3

110.9
103.2
103.0
114.0
114.4
115.2
118.6
121.0
127.1
130.9
127.4
126.4

1922
January
February...
March
April
May
June
July
August
September..
October
November..
December-.

89.3
89.7
90.6
91.9
92.3
92.4
93.3
94.1
04.6
03.9
02.8
03.3

109.8
110.9
112.1
111.9
113.2
113.6
114.4
115.4
116.4
117.6
117.1
116.1

58.7
60.1
62.3[
66.11
68.6
68.0
68.51

1923
January
February __.
March
April
May
June
_.
July
August
September.
October....
November.
December.

03.4
03.0
01.9
01.5
01.8
01.8
01.4
01.6
01.2
01. 2
01.4

116.4
117.0
116.3
114.2
114.2
113.7
113.8
114.0
113. 6
113.4
113.8
U . 4 113.4

71.6!
74.8
75.8
73.2
69.8
67.2
64.9
65.2
65.7
64.6
66.6
68.9

1924
January
February...
March
April
May
June
July
August
September.
October
November.
December..
1925
January
February...
March
April
May
June
July
August
September.
October
November.
December..

70.7 72.6
64.2 66.1
55.2 51.6
67.7 64.7
69. 0i 66.6
72.8J 69.6
89. 71 88.4
100.0 100.0
118.3 118.5
149.9 154.
190.3! 189.4
149.8 140.6

60.3
54.5
57.8
70.9
73.8
78.9
94.9
100.0
116.0
148.9
234.6
214.6

1926
January
February...
March
April
May
June
July
August
September..
October
November.
December..

63.4!
65. 0|
67.5|
71. 01
72. 5
71 O
71.3
74.1!
78.21
79.2i
80.3
75.7
73.7

63.6
65. 2
67.6
69. 3
70. 7
in0.4
A
70.6
73.7
75.7
75.8
74.3
73.9

1927
January
97.
February... 98.1
March
98.4
April
99.0
99.1
May
98.4
June
98.4
July
98.8
August
September.. 99.3
99.6
October
November,. 99.7
100.0
December..

69.9
73.4
75.3
72.0
67.5
63.7
61.2
61.8
62.2
61.0
63.6
67.1

73.6
76.6
76.4
74.4
72.7
72.3
69.6
69.0
69.3
68.7
70.0

73.9
76.0
76.1
74.9
73.7
72.7
71.9
72.8
73.7
72.7
73.4
74.0

1928
January
February...
March
April..
May
June
July
August
SeptemberOctober
November..
December..

£2 2
S2.2
S2.0
S2.2
S2.8
S3. 7
64.2
S4.2
S4.5
94.6
94.8
94.5

114.1 71.1 69.7
114.9 71.4 70.0
114.2 70.0 67.9
113.3 68.4 65.3
113.7 68.2 64.7
114.6 69.4 65.
68.9
115.5
116.5 75] 2! 71.7
116.0 74.4! 70.7
116.0 73. 5i 69.7
116.9 •77.6| 73.6
117.1 81.7| 78.0

71.2
71.8
71.4
72.0
72.7
74.3
78.3
80.3
79.3
78.1
83.6i
87. 5i

76.4
76.6
76.0
75.0
75.2
76.7
78.3
80.0
81.3
81.0
83.2
86.5

1929
January
February...
March
April
May
June
July
August
September..
October
November..
December..

94.5
94.8
94.8
95.3
96.0
96.2
95.8
95.3
95.3
95.2
95.1
95.6

117.5
118.0
116.0
117.6
118.7
119.0
119.6
118.8
119.2
119. 3
120.1
119.8

88.6 87.8
88.8 88.2
86.8 88.7
84.8 89.2
86.2 93.6
86.3 95. 5
87.4 97.2
89.91 97.5
91.11 98.4
91.5 100.6
94. 4| 101.2
98.6 101.1

55.6
56.7
58.9
63.1
66.3
65.8
65.4
71. 01 67.1
73.0 69.5
74.5 71.5
70.9 67.9
70. 0! 68.4

82.7
83.
80.9
80.4
83.0
85.1
88.2
89.0
91.8
96.0
99.6
100.3! 100.4
85.1
85.9
83.6
82.8
85.4
86.9
89.3
90.5j
92. 6j
95.6
98.7

70.1
63.9
61.8
72.7
71.9
76.7
89.5
100.0
119.1
128.5
147.3
124.9

96.2 120. 0j 101.8
96.6! 120.6 101.8
96.61 120.1 95.8
96.9 120.6! 92.9
97.3 121.4 93.2
97.3 121.3 97.2
97.0| 121.2! 100.0
97.2 121.9! 102.9
97.01 120.5 104.3
97.0 120.2 101.6
97.6 121.1 103.1
97.8 123.6 105.4.

la

1

"3

11

102.2
102.4
96.3
92.6
92.6
96.9
99.9
103.1
104.2
101.5
102.9
105.4

98.6
97.1
94.7
93.6
94.7
98.4
100.2
103.1
105.9
102.7
104.2
106.4

103.2
103.8
94.9
93.3
94.3
97.7
100.2
102.0
103.1
100.9
103.1
104.0

124.0 105.6 105.6 107.1 104.4

125.0
125.
126.4
127.6
127.2
126.7
127.6
128.5
128.5
128.

107.9
109.1
111.1
114.2
115.4
117.2
122.0
127.7
126.7
129.6
133.1

107.5
108.6
110.0
113.1
114.4
116.7
122.3
128.9
127.5
131. 3
135. 5

111.6
112.2
115.7
118.1
119.2
120.7
123.1
125. 2
124.3
124.9
126.8

105.3
107.3
110.5
114.2
115.6
114.9
118.5
124.1
124.5
125.6
127.2

100.3
100.3
100.5
100.3
99.7
98.5
97.9
97.2
97.5
97.5
97.8
97.2

131.3
131.1
132.8
135.3
134.2
131.5
129.6
128.8
129. 3
128.8
129. 3
128.9

134.4
132.3
137.9
145.9
152.1
145.3
144.2
148.3
156.6
159.1
171.1
171.4

137.4
134.8
141.1
149.5
154.9
148 2
147.8
152. 6
162.2
166.2
178.9
178.4

125. 3
121.6
125.9
130.7
133.2
126.7
124.6
126.5
129.6
128.2
134.9
134.9

129.5
130.9
134.4
142.5
155.3
148.1
145.3
147.9
155.8
154.4
168.6
173.4

97.0
96.3
95.8
95.8
95.7
95.3
95.2
95.0
94.8
95.1
95.7
96.5

129.2
128.8
128.7
128.6
128.6
127.7
127.0
126.3
126.8
126.4
123.9
126.4

185. 2
186. 5
189.1
186.6
187.8
190.7
207.3
218.1
225.2
201.7
151.1
153.8

192. 5
192.3
196.0
193. 4
192.6
191.0
202.7
210.3
216.1
194.4
144.8
146.9

141.8
141.6
140.4
138. 3
138.7
144. 8
160.0
165.4
168. 1
157.0
135.1
136.3

192.7
202.4
203.7
201.4
212.3
233.0
272.8
304.3
321.0
276.6
194.4
200.9

1930
January
96.5 126.5 156.3 148.8
February... 96.4 126.9 165. 5 155.9
97.7 127.8 172.4 163.0
March
97.8 128.2 181.0 170.8
April
98.0 127.6 170.5 160.1
May
98.2 126.8 152.8 143.1
June
98.7 125. 149.3 139.8
July..
99.6 126.5 147.6 138.7
August
September.. 100.0 127.9 148.8 139.3
99.9 126.8 127.6 117.8
October
November.. 99. 1 124.7 116.7 10S.5
December.. 97.8 121. 109.4 101.9

136.5
142.5
143.2
141.7
136.0
124.5
124.2
121.2
122.6
110.9
102.1
93.5

208.7
230.5
241.6
263.7
250.0
223.5
215.4
212.7
216.4
187.0
167.4
157.9

1 Average price of 60 high-grade bonds adjusted for differences in coupon rate and maturity.
2
20 high-grade industrials; average price.
L 3 About 404 issues: 337 industrial, 33 railroad, and 34 public utility.
;




215

BUSINESS CONDITIONS
No.

124,—INDEXES OP PRODUCTION, EMPLOYMENT, AND TRADE

97

62
62
56
78
84
94
122
129
128
134
117
92

77
89
70
74
105
96
99
108
107
106
115
99

105
102
102
102
103
104
107
109
111
110
112
113
114
113
115
114
112
111
108
109
107
104
98
90

117

84
81
87
76
88
95
96
99
103
103
94
82

Adjusted

117
115
115
114
112
111
109
108
105
102
97
90

Unadjusted

75
72
71
73
80
83
90
91
102
99
86
82

Adjusted

97
91
91
90
91
93
96
101
105
102
107
114

DepartmentMerchan- store sales
dise in
less than
car lots
Unadjusted

108
103
102
102
103
104
107
108
109
108
111
114

Adjusted

84
91
79
87
100
97
103
106
103
103
106
92

107
108
82
90
104
96
100
101
99
97
101
88

16
29
35
55
68
83
92

Total

98
118
77
81
103
96
101
104
102
102
108
87

Adjusted

Adjusted

Employ- Pay
rolls
ment

Unadjusted

119

Unadjusted

Adjusted

Unadjusted

Adjusted

84
87
67
87
101
94
105
108
106
112
119
96

83
87
67
85
101
95
104
108
106
111

Minerals

Freight-car loadings

Unadjusted

1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

Manufactures

Total

Unadjusted

Year and month

Factory employment and
pay rolls

Unadjusted

Industrial production

Building contracts awar ded, unadjusted

[Index Numbers of the Federal Reserve Board .1 1923-1925=100]

78
94
87
88
98
99
103
106
107
108
111
102

87
94
96
99
105
105
105
104
105
97

1919

SO

84
87
89
89
88
86

81
92
93
93
87
92
92
87
89
88
85
78
68

82
79
76
78
78
83
87
89
87
86
85
85

82
80
78
80
80
85
87
90
89
87
90
82

94
94
93
87
90
90
88

94
96
95
89
93
91
86
88
87
83
74
64

S9

oooot^

1920
January
February
March
April
May_
June
July. _
August
September
October
November
December

80
78
76
78

71

82
81
78
79
78
84
88
91

87
86
89

87
96
96
94
88
91
91
88
88
86
81
73
68

74
63
61
65
75
82
88
83
94
95
63
70

79
70
66
71
74
76
81
78
85
87
63
77

82
78
80
73
86
95
94
98
94
100
97
87

86
84
87
82
85
88
88
91
85
91
94
94

85
66
89
64

66
65

59
87
88
77
75
59
59
53
52
38
29

116
124
122
123
125
120
123
117
108
100

'84
r
83
'78
••80

66
71
72

'85
'88
'91
'87
'83
'90

60
59
65
77
73
76
59
60
76
89
101
137

69
76
80
80
83
81
86
86

94
91
95
84
88
92
91
94
91
90
91
90

82
74
90
91
101
96
73
73
88
102
112
146

90
89
93
93
96
96
98
97
95
99,
96
92

OO OC

January
February
March
April
May
June
July. _ .
August
September
October
November
December

72
82
86
85
82
78

72
83
82
81
80
80

72

1921
92
84
32
79
83
81
79
72
January
64
72
65
66
77
83
81
67
72
83
72
79
30
83
64
64
77
February
66
65
82
84
78
76
8?,
83
89
83
84
47
March
75
85
72
63
67
71
88
64
63
64
82
82
89
80
72
77
85
64
April
63
64
87
87
72
65
64
64
82
87
82
78
78
79
64
73
88
68
May_
66
88
73
66
91
67
76
87
80
64
81
73
81
80
88
64
65
89
86
71
June
68
65
80
72
90
87
64
80
83
90
60
July
64
70
81
64
68
65
63
62
84
81
81
74
77
86
71
80
85
69
67
66
63
August
67
67
82
83
74
80
94
90
8?
67
68
September
69
67
69
72
89
67
75
86
83
84
73 ! 95
63
83
95
92
71
72
78
95
71
October
73
71
83
84
84
77
Q?
54
72
90
72
71
81
November
71
72
97
68
71
83
74 72
56
70
83
84
77 88 ! 90 , 135
70
66
64
69
December—
66
1
Descriptions of these indexes, and of revisions made from time to time, have been published in the
Federal Reserve Bulletin as follows: Indexes of industrial production, production of manufactures, production of minerals, February and March, 1927 (certain revisions, February, 1931); indexes of factory
employment and factory payrolls, November, 1929, November, 1930; indexes of building contracts awarded,
August 1927 (latest revisions given here); indexes of freight-car loadings, August, 1927 (certain revisions,
February, 1931); indexes of department-store sales and department-store stocks, February, 1928 (certain
revisions, November, 1930).
' Revised*

33454r-31-

-15




216

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

No. 124.—INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE—Continued
Factory employment and
pay rolls

Industrial production

Freight-car loadings

Total

Year and month

88
89
95
96
1923
January
February
March
April
May
June
July
August
September
October
November
December
100 j 103
100 ! 105
93

1925
Januarj
February
March
April
May
June
July
August
September
October
November
December
1926
January.
February.
March
April
May
June
July
August.
September
October.
November
Digitized forDecember.
FRASER

106
105 I
106 '
103
102
102
103
102
104
107
109
112

106
108
107
110
111
111
109
106



109
108
107
107
! 108 106 i 103
106
102
' 108
i 112
i 112
: 108

101
96 | 97
94 92
92 I 85
92
93
94
95
97

83
83
84
87
8?
86
86
88
9i
93
92

95
92
94
88

99 86
97 87
101 93
104 96
102 99
102 99
102 98
101 97
99 102
98 102
99 102
97 94

91 105
80 103
76 101

93

DepartmentMerchan- store sales
dise in
less than
car lots

99
102
100
96
94
91
93
95
99
100
99
101

95
101
105
105
106
104
103
105
111
109
109
101

93.
05
100
08
101
08
101
100
101
100
99

98

91
96
101
101
101
97
96
98
104
104
103

103
102
101
103
102
100
102
106
102
102
105
107

91

104
103
105
105
105
107
107
107
108
108
109
108

99
101
99
98
97
100
96
96
10*
96
100

97
102
104
104
104
104
104
104
105
105
106
106
106

105
103
102
102
102
101
101
101
111
104
104

98 106
102 105

107

106
107
106
104
105
110
109
108
101

106
105
105
106
105
105
106
104
106
105

106
105
101
105,
109

104
120
124
184

105
106
108
106
109
106
108

BUSINESS CONDITIONS

217

No. 124.—INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE—Continued

Factory employment and Freight-car loadings
pay rolls

Adjusted

Unadjusted

Adjusted

Unadjusted

Adjusted

Building COLitracts awar
adjusted

Unadjusted

Adjusted

Unadjusted

Unadjusted

Adjusted

Unadjusted

Adjusted

Unadjusted

Adjusted

DepartmentMerchan- store sales
dise in
less than
car lots

Unadjusted

Industrial production

1927
January..
February
March..
April
May
June
July
August .
September
October
November
December

105
111
113
110
112
107
102
105
107
105
101
96

106
108
111
108
111
108
106
106
105
103
100
101

104
110
113
112
113
107
102
104
106
104
100
95

104
107
109
109
111
109
107
106
105
102
100
100

112
113
111
96
108
108
103
111
111
112
105
97

116
117
118
107
109
105
100
106
104
105
101
103

94
96
151
147
134
154
130
134
127
137
114
116

98
100
100
100
99
99
98
99
101
99
97
95

100
100
100
99
99
100
99
99
98
98
97
97

99
105
106
105
104
102
99
102
102
103
98
99

96
99
102
99
105
105
104
109
116
114
101
88

106
107
109
10
103
104
102
104
103
101
98
98

98
102
106
106
106
105
104
105
110
109
106
98

105
104
105
104
104
105
105
105
105
104
104
104

91
89
95
109
105
101
76
85
103
117
126
182

107
108
106
106
105
106
105
111
104
107
108
106

1928
January.
February
_.
March
April
May.
June
July... .
August
September.. _.
October
November.
December

105
111
112
110
110
108
105
110
116
118
115
109

106
108
109
109
109
109
109
111
114
116
116
117

106
113
114
113
111
109
105
110
116
117
115
110

106
109
109
110
111
111
113
115
116
116
117

100
99
98
94
104
104
103
111
115
123
117
106

103
103
103
105
105
101
101
105
107
114
113
112

104
113
144
156
162
158
142
126
142
145
115
105

94
96
97
96
96
96
96
98
100
100
99
98

96
96
96
96
96
97
97
97
98
98
99
100

96
101
103
100
101
101
98
103
104
107
104
104

92
94
97
96
105
101
105
109
119
119
109
94

102
102
103
101
103
100
102
103
105
106
107
106

98
101
105
105
108
103
104
104
109
109
107

105
104
104
103
104
103
105
104
105
104
105
105

91
88
97
105
107
102
80
81
113
118
125
192

108
106
107
106
107
107
110
107
112
108
108
111

117
121
122
124
126
125
120
122
_ 124
121
]08
96

118
118
119
122
124
126
124
123
122
118
108
101

117
122
126
128
128
127
120
122
123
119
107
93

117
120
123
126
129
126
124
122
118
108
98

114
116
101
103
116
116
118
121
127
127
114
110

118
120
107
115
116
112
114
115
118
118
110
116

99
88
118
156
143
129
159
119
108
108
95
77

97
100
101
102
102
102
102
104
105
103
99
95

100
100
101
102
102
103
103
103
102
101
99
97

101
108
111
111
111
110
106
111
112
111
103
99

95
99
98
102
109
110
111
115
121
118
102
89

108
107
105
108
107
108
107
107
106
104
102
102

101
106
107
107
105
105
106
110
109
106
96

104
104
105
104
104
105
106
106
106
104
104
103

90
91
107
103
109
108
79
84
117
122
125 I
191

110
111
112
110
109
113
109
111
114
112
108
108

104 104
110 107
107 104
108 107
106 104
99 100
95
. . . ! 91
I 90 1 91
j 93 1 91
87
90
86 ! 86
78 ! 82

103
111
110
111
106
99
90
89
91
88
84
76

108
104
91
93
102
103
100
101
100
104
95
89

112
109
96
104
103
100
97
96
94
98
92
94

79
77
111
118
111
146
89
84
81
82
62
61

93
93
93
93
91
89
86
85
86
84
81
79

96
94
93
92
91
90
87
84
83
82
81

94
98
98
97
94
91
83
82
83
81

89
92
90
93
97
95
95
96
99
97
86
74

100
99
96
97
96
93
92
89

94
98
101
101
101
98
94
95
99
97
94
86

101
101
100
98
98
98
95
95
95
93
92
92

88
89
93
110
105
98
71
77
103
112 j
113
165

107
108
107
107
105
103
100
10?
99
102
98

Year and month

1929
January
February
March
April
May
June
July
August
September
October
November
December
1930
January
February
March
April...
May
June..
July.
August
September
October
November
December

Total




Manufactures

no

118

103
107
106
107
105
100
94
91
90
85
84

80

Minerals

Employ- Pay
ment rolls

80

75
74

Total

87
86
84
84

99
97

94

218

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
No. 1SJ5.—INDEX OP PRODUCTION OP MANUFACTURES, BY GROUPS
[Monthly series adjusted for seasonal variation.

Year and month

All
man-

NonFood Paper Au- Leather fer- Petro- Ruband
torous leum ber
and
print- morefining biles shoes met- ing tires
als

Iron |
d
!

tures
1919.
1920.
1921..
1922..
19231024..
192519261927192819291930..
January
February...
March
April
May
June
July
August
September .
October
November.
December..
January
February _._
March
April.
May
_.
June
July.......
August
September.
October
NovemberDecember.January
February..
March
April
May.
June
July
August
September.
October
November.
December..

1923-1925=100]

94
84
83
94

76
87
70
85
94

50
58
41

84
87
67
87
101
94
105
108
106
112
119
96

82
99
46
82
105
89
106
113
104
119
130
95

92
84
87
99
105
91
104
104
113
107
115
91

103
98
97
96
98
97
93

107
114
112
118
125

91
107
108
86
110
135

113

85

104
107
109
109
111
109
107
106
105
102
100
100

103
112
115
114
116
108
105
102
98
94
89
94

108
108
115
113
116
119
118
118
118
114
112
105

96
94
100
100
103
102
96
96
91
93
93
96

112
114
110
114
113
113
114
112
114
111
110
112

90
95
94
95

107

107
108
107
101
107

103
108
105
98
96
93
89
90

99

1027

1328
106

109
109
110
110
111
111
113
115
116
116

113
114
122
116
115
124
121
128
126
120

117

123

108
100
107
107
111
113
111

118
117
120
123
126
129
126
124
122
118
108

118
126
133
136
145
155
152
143
140
124
100
90

116
113
116
120
121
121
118
120
116
118
108
96

103
101
96
103
97
96
96
100
98

99
119
113
114
111
110 '
93
93
86
75
65
59 i

103

96
94
90
97
98
93
94

94
98
102
104

99

114
116
119

120
121
119
118
118
119
117
121
122

66
102

99
87
81

80
75
73
64
70
86
95
97
98
100
107

116
119
126
126
129
138

104
97
90
102
110
94
96
98
103
103
105
94

67
78
39
69
94
99
107
112
109
115
125

152
168

98

164

100

115
111
109
111
110

135
134
135
134
132

108
107

133

134
127
130

136
136
138

119
117
114

139

117

140
138

116
113

102
99

103
104
105
107

54
64
64
74
86
99
115

127
136

55
77
86

98
116
116

120
144
135
100
115
112
122

Tobacco
manufactures
82
87
85
89
96
99
105
112
118
124

134
131
114
115
116
123

122
115
117
118

107
106
105
100
102

109
106
107
106
111

103
104
104
102
101
106
106

100
108

135
140

108
111
111
115
113

124
135
134
133
133

118
119
120

105

117

104
102
99

117
121
126

141
147
149
153
155
160
162
160
159

143
149
151
169
167
154

99

127

158

144

125
125
129
128
126
124
127

99

126

159

148

99
100
103
106
110
108
108
110
111
108
100

125

161
161
165

152
152
161
158
162
141
119
116
114
94

122
120
121
114

120
120

J929

96
96
95

123
123

126
124
127
128
125
125
130
126
123
118

142
143
143
143
142
153
141
131
122
123
113

65

129
136
138

126
128
124
126
123
119
113

167
170
171
176
174
178
171
167

80

131
129
126
142
142
139

131
133
136
135
130
133

:.930

January..
February.
March—.
April
May...
June—
July—
August
September.
October-_.
November.
December .

_

! 105
I 100
94
I 91
85

91
96

94
94
89

120
122
120

121
119
116
111
109
109
107
103
98

97
102
98
102
101
90
75
62
62
49
74
85

100

105

97
99
103
98
97
95
95

102
104
106
101
96
97
96
97
95
87
85

95
89
81
81

163
168
168
174
173
170
166
164
165
160
151

149

106
107
105
123
121

119
93
96
84
88

77
73

131
133
128
136
134
141
137
130
125
129
119

128

Back figures of monthly series.—For years 1919-1922 (general index and all component groups) see Federal
Beserve Bulletin for March, 1927. For years 1923-1926 (all component groups except (1) automobiles and
(2) leather and shoes) see Bulletin for March, 1929; latest revision of general index given (with revised series
for automobiles, leather, and shoes) in Bulletin for February, 1931, p. 107.




219

BUSINESS CONDITIONS
No. 126.—INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS
[Monthly series adjusted for seasonal variations. 1923-1925=100]
Bitu- Anthra- Crude Iron-ore
All
miner- minous cite petro- ship- Copper
leum ments
coal
coal
als

Year and month

1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

77
89
70
74
105
96
99
108
107
106
115
99

109
110
112
65
115
109
76
104
99
93
91
86

52
61
64
75
99
97
104
105
122
122
137
122

116
117
118
107
109
105
100
106
104
105
101
103

118
123
132
94
94
91
85
92
91
90
85
88

102
96
87
106
115
102
74
106
99
106
104
91

120
123
122
121
122
122
124
124
122
123
124
124

103
103
103
105
105
101
101
105
107
114
113
112

.

89
109
79
78
108
93
99
110
99
96
102
88

94
93
97
92
95
93
95
93
95
101
101
98

87
87
78
105
110
74
66
92
93
117
111
97

121
120
120
119
119
118
118
122
123
126
127
131

118
120
107
115
116
112
114
115
118
118
110
116

105
111
90
102
105
102
103
09
103
103
98
104

106
106
74
91
83
73
70
78
102
112
88
117

137
136
133
133
134
135
143
145
140
140
132
133

112
109
96
104
103
100
97
96
94
98
92
94

100
92
81
97
92
89
86
82
85
87
86
85

106
100
68
73
81
78
82
88
80
105
83
93

133
135
125
128
127
124
120
117
114
115
114
111

1927

January
-. .
February
March.... .
April
May
_
June
July
August
September.
October
November
.
December
1928

January
February
March. . . - _
April
May
June.
July
August
September. ., .
October
November
December .
1929
January _ _. _
_
February
March
April
May
June __
July . .
August
September
October
November
December

...

-.

.

91
113
36
82
114
82
104
113
95
104
121
90

120
101
99
98
88
94
50

80
107
104
104
110
114
106

143
126
119
121
121
107
98

Zinc

Lead

81
85
30
62
93
100
106
110
105
115
127
87

87
39
68
96
97
107
116
111
112
114
91

66
77
88
102
111
116
112
106
113
100

84
87
104
100
96
95
93
88
94
79

113
111
100
106
107
105
101
101
104
103
106
104

114
113
114
109
108
114
109
112
111
110
108
109

113
112
115
121
112
114
114
112
111
105
110
108

97
95
90
90
90
93
94
94
90
91

102
104
102
104
110
110
113
116
123
129
133
133

105
107
112
113
113
117
117
120
114
110
111
106

104
110
109
101
101
100
98
107
115
109
111
109

93
83
95
89
85
93
76
87
79
79
93
100

129
136
135
142
139
124
122
119
125
123
118
115

102
106
110
116
121
128
124
127
120
119
106
98

120
115
115
116
125
114
118
117
122
121
117
105

94
91
93
103
95
94
88
91
89
94
114
87

101
95
88
90
90
86
83
84
89
83
83
76

104
98
96
94
94
99
91
94
93
90
70

95
112
107
111
104
99
103
106
101
94
83
92

88
98
89
88
80
75
69
70
73
70
73
71

Silver

98
95

1930
January

February
March .
April
May

June .
July..
August
September.. .
October
November .
December

- .

104
108
95
96
79
74
51

68

Backfigures.—SeeFederal Reserve Bulletin for March, 1929 (for revised monthly data back to January,
1923), and for March, 1927 (for monthly data back to January, 1919).




No. 127.—INDEX OP FACTORY EMPLOYMENT, BY GROUPS J

to

o

[1923-1926-100]

Year and month

1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.

All
manufacturing industries
106.7
107.9
82.4
90.1
104.2
96.2
99.6
101.4
98.8
97.2
101.1
87.8

Iron
and
steel

99.7
107.0
65.4
83.9
104.4
97.2
98.4
101.3
96.8
95.4
98.9
87.1

Machin- Textiles
ery

117.2
128.9
77.0
82.2
107.7
93.6
98.7
107.9
100.0
98.7
116.1
97.4

97.8
98.3
93.0
97.3
105.3
95.2
99.6
97.9
100.8
95.1
96.9
84.7

Food
products

Paper Lumand I ber and

Transportation
equipment

Nonferrous
metals

and
clay,
prodand
Auto- I ucts i glass
Group mobiles !
96.3
104.2
71.7
78.3
106.9
94.9
98.3
98.3
88.4
90.6
94.6
76.1

109.0
103.8
94.8
95.5
102.0
100.0
98.0
98.5
99.1
98.6
99.7
94.7

Chemicals
L)

85.2
88.2
52.9
72.0
100.6
93.5
105.8
104.8
91.6
108.8
114.3
81.8

84.7
107.5
98.5 I 89.1
87. 8 i 73.6
97.6 ! 88.1
106.2 ! 100.8
96.3 ! 99.0
97.5 ! 100.2
96.8 ! 101.9
97.3 ! 97.5
92.3
93.5 !
89.6
93.7
85.9 I 75.6

j

PetroGroup leum
refining

114.6
121.3
74.5
90.1
107.1
95.1
97.9
99.5
97.4
96.6
101.1
78.1

108.3
97.1
70.8
81.0
101.5
95.9
102.6
108.8
107.9
105.3
112.3
104.5

89.8
93.6
94.6
95.9
95.9
96.0
95.3
96.0
97.6
100.0
102.2
102.4
102.4
106.1
107.9
107.7
105.3
102.9

103.3
106.5
110.4
109.9
101.5
101.0
100.4
101.3
106.8
107.4
107.3
107.8

products

102.9
96.5
100.6
110.2
110.2
102.4
116.4
111.9

102.5
91.8
105.7
104.6
104.0
108.6
108.3
82.7

101.1
100.8
101.0
99.4
99.2
101.5
102.6
103.9
105.8
104.3
104.0
104.7
104.0
106.7
109.2
111.9
114.4
116.4

105.1
107.6
106.0
105.7
105.4
105.4
110.7
111.6
113.4
113.2
109.8
109.6
112.2
112.3
113.3
114.3
115.3
115.0

iGunCCG

products

112.9
111.7
110.5
107.2
105.8
98.8
95.4
90.8
93.6
93.8
91.6
87.4

Without seasonal adjustment
1928—January...
February..
March
April
May
June
July
August
September
October..,
November.
December.
1929—January...
FebruaryMarch
April
May
June

94.2
95.7
96.6
96.0
95.7
96.2
95.7
98.3
100.3
100.2
98.8
98.1
97.4
99.8
101.4
102.1
101.9
102.0




91.0
94.0
95.4
95.3
95.7
95.5
93.6
95.9
96.4
96.9
97.7
97.1
97.1
98.3
99.3
99.7
100.7
100.8

92.8
94.1
95.5
95.9
97.4
98.2
97.9
99.5
101.4
102.8
103.8
105.2
106.7
110.4
113.8
116.7
119.1
120.8

99.7
100.7
100.3
97.0
93.4
91.8
87.8
89.4
92.6
95.7
96.2
97.0
95.9
98.0
101.1
99.3
97.3
96.3

96.8
97.8
97.4
95.6
96.1
97.6
97.9
97.4
100.5
102.6
101.9
102.0
98.6
98.8
97.6
96.2
97.3
99.2

103.0
102.4
101.4
100.3
100.6
100.5
100.5
100.8
101.1
102.4
103.7
103.6
102.5
103.4
103.1
102.5
102.8
103.2

85.3
85.4
86.7
87.5
87.4
88.3
87.5
89.5
90.4
90.6
90.5
88.2
85.5
85.8
86.6
88.2
89.2
90.0

83.0
86.1
88.2
89.7
92.4
92.4
91.6
94.2
95.4
94.4
90.2
89.9
94.0
99.0
100.5
101.7
101.5
97.6

89.7
98.3
102.6
105.2
111.3
111.3
111.2
118.1
121.5
119.8
109.1
107.7
118.3
129.5
131.1
131.4
130.0
120.6

96.2
97.9
97.3
92.4
89.8
89.7
94.0
95.9
96.1
94.6
89.3
88.6
91.9
94.1
92.7
90.6
90.3
89.4

85.9
86.5
89.4
91.8
95.3
96.2
94.6
96.6
96.0
94.1
91.8
89.5
84.3
84.5
86.8
90.5
93.1
93.8

107.6
110.9
115.5
119.0
110.3
107.9

88.5
92.4
93.5
91.1
92.2
93.0
88.0
94.7
96.7
99.1
98.9
95.7
84.1
92.0
92.0
91.3
90.3
91.4

My.......
August
September.
October...
November.
December.
1930—January. _.
February..
March
April
May
June
July
August
September.
October.._
November.
December.

102.1
104.0
105.4
103.3
98.9
95.2

93.2
93.3
93.1
92.6
90.9
88.8
85.5
85.1
86.4
84.3
81.0
78.8

99.8
101.0
101.0
99.4
97.0
92.2
91.7
93.5
92:8
9&0
92.7
90. &
86.1
83.6
82.3
81.6
79.8
78.0

121.5
119.4
119.5
118.7
115. 0
112.1

91.5
94.2
98.4
99.8
97.1
94.3

99.8
99.7
102.4
104.2
101.6
100.4

109. 9
109. 3
108. 5
10&9
103.6
100.1
95.2
90.9
89.8
87.4
84.7
83.3

92.9
92.9
90.3
86.8
83.6
76.6
77.9
82.2
82.4
80.1
78.1

97.4
9d7
95.0
94.0
94.5
95.6
95.0
92.9
95.2
94.7
93.6
92.3

103. 6 !
104.1
106.0
106.1 I
106.7
106:9 j
!
105.1
104.0
103. 7
102.®
102.4
101.5
100.5
99.7
98.6
98.8
98.4
98.4

90.5
92.2
91.8
90.1
86.7
81.6

96.4
95.5
94.8
90.2
82.9
81.3

76.8
75.0
75,0
74 2
73.4
71.7
68.2
66.5
64.5
64.3
61.6
58.4

83, 2
83. 9
83.2
84.0
84.0
80.2
74.8
72.1
70.3
67.0
64.9
65.3

117.8
115.0
113.1
101.3
83.7
79.6

94.6
98.1
99.5
99.3
94.4
90.0

91.2
93.8
93.6
91.9
88.9
82.3

100.5
99.8
98.6
98.5
93.6
89.9

108.9
111.2
114.5
116.1
113.8
111. 8

120.0
121.9
124.0
124.6
123.7
120.9

114.2
111.5
108.3
102.7
91.2
89.2

90.5
93.0
93.7
95.0
96.1
89.2

85.7
89.7
91, 0
93,9
95.3
88.8
81.0
76.3
73.2
69.6
67.9
69.0

91.4
92.4
91.5
89.8
86; 8
84.5
86.6
87.4
86.1
83.1
76.9
74.5

74.7
75.3
78.4
81.2
81.7
80.4
75.8
74.8
74.5
73.2
70.4
66.4

85.9
84.6
84.3
82.9
81.2
80.2
77.7
75.1
72.5
71.6
70.9
70.2

110.6
110.2
112.5
111.7
104.6
101.8
101.0
101.5
102.7
101.4
98.6
97.8

120.8
120. 9
118.5
116,1
114.1
114.0
113.6
112.2
108.5
104.1
99.8
99.6

89.7
87.9
87.2
88. 6
88.3
88.0
82.7
81.0
77.4
75.3
72.6
73.2

84.2
88.9
89.6
88.0
89.4
89.2
88.2
84.0
87.7
88.0
87.1
84.9

90.9
91.7
91.4
93.6
94.7
96.0
96.6
97.4
99.1
101.4
103.4
103.9

103. 6
104.9
105.1
103.8
103.4
105.0
104.9
104. 4
106.3
107.1
107.0
108.0

103.1
102.2
102.1
99.4
99.4
100.5
100.4
102.0
103.9
104.5
105.1
106.0

105.4
106.4
105.0
104.7
104.7
105.0
110.7
110.8
111.0
113.8
114.4
112.3

94.6
93.3
93.7
93.7
93.7
93.6
89.9
95.7
93.8
93.9
93.8
93.8

103.6
104.0
104.2
105.1
104.0
102.9
101.9
101.2
100.1
99.9
94.8
91.1

108.0
109.5
110.4
112.0
112.2
111.8
113.4
114.4
114.0
115.8
113.4
111.9

106.0
108.1
110. 3
111.9
114.6
115.3
117.4
119.7
121.8
124.9
124.9
122.4

113.2
111.4
112.6
113.3
114.6
114.7
113.8
110.3
105.6
102.9
94.4
90.8

90.8
92.9
92.6
93.3
91.9
92.0
92.6
93.6
90.9
89.9
90.9
87.4

Adjusted for seasonal variation
96.1
98.2
85.4
94.4
92.8
93.8
102.2
88.0
95.5
93.6
1928—January
98.6
96.1
93.2
93.4
93.3
102.2
87.9
85.9
96.9
95.4
February...
98.0
98.8
101.1
95.3
March
96.1
94.0
94.1
96.7
99.4
88.6
86.3
98.1
92.7
95.7
95.2
99.2
100.8
94.2
91.2
94.0
94.7
April
88.3
86.6
99.0
101.4
93.6
96.1
94.6
96.7
98.9
103.0
92.4
May
94.2
87.8
88.7
101.4
94.0
June..
96.7
95.4
97.6
94.0
97.8
88.0
91.1
108.9
92.2
101.6
94.7
111.7
92.4
96.6
95.1
97.9
98.2
July
92.8
87.1
91.7
102.1
93.3
97.3
96.2
99.7
92.8
88.0
93.2
115.4
92.5
August
97.6
101.4
92.7
101.9
93.3
119.2
92.3
97.7
95.7
87.9
September98.0
94.5
102.0
91.8
98.3
94.4
91.9
October
96.6
103.6
94.0
98.2
88.1
119.8
102.3
90.1
November..
99.3
98.2
105.2
95.2
99.4
89.0
95.4
121.2
91.2
101.7
91.1
92.4
106.4
121.7
December-.
98.5
100.2
99.8
96.0
88.7
95.6
91.4
1929—January
99.0
107.8
95.2
101.7
88.4
96.9
124.6
91.9
99.8
99.9
91.7
103.2
February...
100.3
97.6
109.8
95.4
99.8
88.4
98.6
127.6
90.9
125.3
91.5
97.8
97.4
102.8
88.5
March
100.9
112.0
99.5
98.0
90.0
92.4
98.5
115.2
97.5
103.0
89.3
123.6
101.7
99.6
89.9
April
98.0
94.1
103.6
102.4
99.5
118.3
98.1
100.0
89.7
119.8
90.2
May
97.0
94.1
100.8
99.4
104.2
118.0
102.7
98.6
89.8
96.2
89.9
June
120.1
94.9
101.3
121.5
104.8
90.1
118.2
102.8
96.6
100.1
96.4
89.6
July...
95.4
105.4
102.7
101.4
119.6
97.8
99.9
90.5
112.2
89.7
94.5
August
95.6
89.1
102.4
106.3
100.2
98.7
99.9
109.8
89.9
120.1
93.7
September96.0
101.3
99.1
119.5
97.9
99.8
87.2
90.4
101.3
105.6
89.7
October
95.1
88.4
105.2 !
November..
99.3
97.4
116.4
96.2
99.1
85.0
87.3
93.8
92.6
113.3
93.4
85. 0
96.9
93.6
98.7
105.0
82.1
91.0
December..
86.0
i Backfigures.—SeeFederal Reserve Bulletin for November, 1929, and November, 1930, for monthly data back to January, 1919.




I
!
I
j

to

No. 127.—INDEX OF FACTORY EMPLOYMENT, BY GROUPS—Continued

to

[1923-1925=100]

Year and month

manufacturing industries

1930—January...
February..
March
April
May
June..
July
August
September
October
November.
December-




95.6
93.9
92.9
92.4
91.4
89.7
86.6
84.4
83.4
82.2
81. 1
80.1

Iron
and

steel

93.6
92.8
91.6
91.9
91.6
90.0
87.3
83.9
81.7
81.3
80.2
79.1

Machinery Textiles

111.0
108.6
106.9
105.6
102.8
99.5
95. 2
90.8
90.2
88.0
85.7
84.2

92.2
90.3
89.4
88.6
87.4
85.7
81.0
81.0
82.4
80.7
79.4
77.4

Food
products

98.7
97.6
96.9
97.5
97.1
95.8
95.2
93.0
92.9
90.9
91.4
90.8

r ay ei

.uuLu-

Transportation
eauipment

and
print- ber and
prodAutoing
Group mobiles
ucts
104.3
103.8
103.4
103.1
103.2
102. 4
101.7
101.1
99.0
98.4
97.0
96.7

79.6
77.4
76.8
75.2
73.9
71.6
67.8
65.1
62.4
62.1
60.4
58.8

85.6
83.6
81.4
81.0
80.4
78.9
74.9
71.7
69.7
67.2
68.6
69.4

90.7
88.4
87.0
87.9
87.4
86.5
81.4
74.8
71.1
69.6
76.4
78.-9

and
products

90.9
90.2
90.4
91.5
90.4
88.9
86.8
85.1
82.7
80.2
77.4
76.6

jcincni
clay,
and

81.2
80.7
81.1
80.7
79.3
77.1
74.3
71.4
71.7
71.4
70.0
68.6

Chemicals
JN on-

ferrous
metals

86.8
82.9
81.6
81.0
SO. 2
80.3
78.7
76.1
73.6
72.6
71.8
71.2

Jttubber l ouaixo

Group
111.1
109.0
107.5
105.6
106.5
105.7
105.4
104.4
102.3
101.1
98.3
97.9

Petroleum

products

products

refining
123.1
122.4
119.7
116.1
114.3
113.0
111, 1
110.1
106.6
104.3
100.8
100.8

90.4
87.3
86.8
88.0
88.0
88.0
82.4
80.0
75.3
75.4
75.2
74.7

90.8
90.1
90.2
90.1
90.9
89.7
90.4
84.1
85.1
83.5
82.0
83.5

i
H

1
W
O

No. 128.—INDEX OF FACTORY PAY ROLLS, BY GROUPS
[Without seasonal adjustment. 1923-1925=100]

I
Year and month

1919
1920.
1921-__
1922
1923
1924
1925
1926-1927.
1928-.
1929
1930

-

1929—January. _.
FebruaryMarch
April
May
June
July
August
September.
October. _.
November.
December.
1930—January...
February..
March
April
May
June
July
August
September.
October. _.
November.
December.

All
manufacturing industries
98.1
118.1
76.8
81.1
103.4
95.7
100.9
104.3
102.0
101.8
107.7
87.4
100.8
108.1
110.8
111.4
111.4
109.7
105.7
110.6
111.9
110.9
102.5
99.1
94.4
97.7
98.2
97.1
94.4
90.7
82.6
81.7
83.0
80.8
75.1
73.7

Iron
and
steel

98.0
123.8
55.8
69.9
103.8
96.7
99.4
104.2
98.5
99.9
106.0
84.4
101.3
107.2
108.5
110.5
111.6
109.9
103.5
109.3
108.9
107.9
100.0
93.5
90.5
98.1
97.1
97.7
95.5
90.8
78.6
77.5
75.4
75.8
68.9
66.7

Machinery Textiles

104.1
135.6
69.6
72.8
107.0

92.6
100.4
111.9
103.5
104.7
125.6
96.7
112.3
120.7
126.5
129.5
131.9
131.6
128.2
127.5
127.9
129.0
121.6
119.9
113.8
115.2
115.1
113.4
108.3
102.7
90.9
85.8
84.2
81.4
75.1
75.0

90.0
107.8
89.2
91.0
105.8
94.4
99.8
98.4
104.1
96.4
99.6
81.9
97.0
103.6
108.8
103.2
99.3
97.8
90.4
97.4
103.0
104.8
96.2
93.8
92.2
94.1
96.6
89.3
82.7
77.8
69.2
73.2
81.2
80.3
73.4
72.2

Food
products

98.0
109.2
93.3
90.2
100.1
100.5
99.4
101.2
102.4
102.5
104.4
99.6
102.2
102.5
101.2
100.4
103.1
105.6
105.6
105.0
108.1
108.8
105.5
105.5
102.5
101.6
99.7
99.7
100.7
102.3
100.2
97.6
100.8
98.4
96.5
94.9

Paper
and
printing

74.2
100.3
83.3
86.1
96.1
99.7
104.2
110.4
110.1
109.8
114.5
110.0
111.4
113.0
114.9
113.3
114.3
113.6
111.4
112.8
116.3
117.8
117.2
118.2
114.9
114.9
115.0
113.5
113.3
111.9
107.3
106.9
106.3
105.4
105.0
105.7

Lumber and
products

89.2
109.2
68.0
82.1
100.0
98.4
101.6
102.0
95.1
90.5
90.6
65.8
83.4
86.5
88.4
90.9
92.8
92.2
93.5
94.7
96.6
96.8
89.2
82.7
72.8
72.6
74.6
73.8
73.2
70.9
63.0
61.6
60.9
60.4
54.7
50.4

Transportation
equipment
AutoGroup mobiles
88.8
111.5
72.7
76.4
107.1
93.2
99.7
99.1
91.3
97.2
103.4
76.4
93.6
111.4
113.9
117.0
116.0
107.9
97.1
106.8
103.3
99.8
89.4
85.6
80.9
89.8
90.6
92.0
91.1
83.8
71.7
66.3
66.0
62.8
60.8
60.8

74.9
90.4
48.7
66.2
100.8
90.2
109.1
105.2
93.5
117.6
122.0
76.7
114.5
147.4
148.2
152.0
147.1
130.9
110.2
128.0
120.3
108.0
84.3
72.9
74.0
92.7
97.3
100.8
101.7
89.2
72.4
58.1
62.4
58.4
57.4
55.5

Back figures.-—See Federal Reserve Bulletin for November, 1929, for monthly data back to January, 1919.




Leather
and
products

99.0
105.9
87.0
96.0
106.8
95.5
97.8
98.1
98.6
92.4
93.1
75.5
90.2
94.5
91.4
87.9
88.1
89.8
97.8
105.0
104.3
100.0
83.9
84.1
85.4
86.2
85.2
81.6
75.6
73.8
78.6
80.0
76.2
69.7
55.0
58.1

Cement,
clay,
and

72.6
93.6
67.4
73.2
98.9
100.7
100.3
101.5
96.2
90.4
87.0
68.7
79.0
81.0
84.8
89.3
91.8
92.5
86.1
91.2
91.3
90.6
86.4
80.2
67.3
70.2
73.4
77.1
76.9
76.1
66.4
66.4
66.4
66.4
60.9
56.3

Chemicals
Nonferrous
metals

99.3
130.4
66.7
82.3
105.3
94.8
99.9
103.0
100.3
107.1
115.2
79.6
117.4
124.1
127.6
127.0
123.1
117.0
112.6
113.2
112.1
112.5
99.6
96.1
91.5
91.7
91.0
88.3
84.4
85.0
76.0
72.0
70.7
69.4
67.3
67.9

Group
100.1
113.7
66.9
73.7
99.8
96.3
103.9
111.0
109.7
106.0
113.4
103.9
106.3
111.3
113.6
117.8
113.1
111.2
111.2
113.0
116.0
118.2
115.6
114.0
109.3
110.0
111.6
110.9
106.6
105.3
100.8
100.7
101.3
99.9
96.1
94.7

Petroleum
refining

102.1
95.2
102.7
111.4
112.2
105.7
120.2
116.4
105.3
110.2
112.1
117.1
118.9
120.0
123.3
125.1
129.3
129.4
126.3
124.8
121.1
125.0
123.1
122.1
120. 5
121.7
118.1
117.2
113.8
109.3
103.2
101.4

Rubber
products

101.5
92.7
105.8
106.2
108.5
114.8
111.0
80.6
111.7
123.3
123.6
124.4
125.7
120.6
115.1
110.9
104.9
100.9
85.9
85.0
88.9
92.1
90.0
94.5
95.4
88.3
80.8
77.6
71.8
65.9
58.7
62.6

Tobacco
products

107.2
124.6
104.6
99.2
104.2
99.4
96.3
92.1
91.1
88.4
87.7
79.4
76.3
82.3
84.4
86.1
86.1
88.5
87.9
90.6
93.4
94.2
94.3
88.8
77.0
80.0
81.0
77.1
82.1
84.4
81.9
77.2
80.0
78.0
76.8
77.7

224
No.

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
1 2 9 . — I N D E X N U M B E R S OF W H O L E S A L E COMMODITY P R I C E S IN T H E U N I T E D
STATES 1

[Indet of the U. S. Bureau of Labor Statistics; 1926=100, base adopted by bureau]
Other commodities

All
Hides Tex- Fuel Metals Build- Chem- House<iom- Farm
and
modi- prod- Foods
and
tile light- and
ucts
ing icals fur- Misties
Total leather prod- ing metal mate- and nish- cellaprod- rials drugs ing
prodmate- ucts
goods
ucts
rials

Year and
month

68. 1
70.0
70.9
66.4
75.5
68.0
93.4
88.3
114.2 123.8
124.6 125.7
128.8 174. 1
161.3 171.3
104.9 109.2
102.4 , 104.6
104.3 104.2
99.7 101.5
102.6 105.3
100.0 100.0
93.7 107.9
93.2 121.7
92.6 109.2
99.9
85.1

57.3
54.6
54.1
70.4
98.7
137.2
135.3
164.8
94.5
100.2
111.3
106.7
108.3
100.0
95.7
96.3
93.7
80.7

92.8
92.9
92.7
92.9
93.3
92.8
93.0
93.5
93.6
93.6
93.5
93.6

121.0
124.1
124.0
126.7
126.3
123.7
124.2
121.0
120.7
117.5
115.5
115.7

96.6
96.5
96.5
96.6
96.3
96.8
96.3
95.6
96.1
96.1
96.1

98.1
98.1 !
97.7 j
97.7
98.9 !
102.8
103.1 !
103.2 !
101.2 !

93.4
93.0
93.2
92.9
92.5
93.1
92.9
92.5
92.7
92.7
91.7
91.4

113.6
109.0
108.3
107.9
106.8
108.0
109.2
109.7
110.8
110.5
108.4
107.4

97.2
95.5
93.9
94.6
92.0
90.5
86.3
87.1
89.2
88.6
85.7
81.8

90.3
89.6
88.7
88.3
87.5
85.7
84.3
83.3
82.8
81.5
80.1
79.0

68. 1
69.5
85. 5
:.i7. 5
.31. 3
138. 6
:L54. 4
97.6
96.7
L00. 6
98.1
L03. 5
L00. 0
95.4
97.7
96.5
86.3

71.5
71.2
71.5
84.4
129. 0
148.0
157.6
150.7
88.4
93.8
98.6
100.0
109.8
100.0
99.4
105.9
104.9
88.3

64.2
64.7
65.4
75.7
104. 5
119. 1
129.5
137.4
90.6
87.6
92.7
91.0
100.2
100.0
96.5
101.0
99.7
90.1

January
February
March
April
May
June
July..
August
September
October
November
December

96.3
96.4
96.0
97.4
98.6
97.6
98.3
98.9
100.1
97.8
96.7
96.7

106.1
104.5
103.5
107.6
109.8
106.7
107.1
107.0
108.8
103.5
101.6
103.6

98.5
98.7
98.0
99.5
101.2
100.3
102.3
104.1
106.9
102.3
100.1
98.0

1929
January
February
March
April
May
June
July..
August
September
October
November
December

97.2
96.7
97.5
96.8
95.8
96.4
98.0
97.7
97.5
96.3
94.4
94.2

105.9
105. 4
107.1
104.9
102.2
103.3
107.6
107.1
106.6
103.9
101.1
101.9

93.4
92.1
90.8
90.7
89.1
86.8
84.0
84.0
84.2
82.6
80.4
78.4

101.0
98.0
94.7
95.8
93.0
88.9
83.1
84.9
85.3
82.6
79.3
75.2

1913..
1914
1915
1916
1917
1918
1919
1920
1921
._..
1922
-_1923
1924
1925
1926 ( b a s e ) . . . .
1927...
1928
1929
1930
1928

1930
January
February
March
_
April
May...
June
July
August
September..
October
November
December

_

61.3
56.6
51.8
74.3
105. 4
109. 2
104.3
163.7
96.8
107.3
97.3
92.0
96.5
100.0
86.5
82.8
81.6
76.1

90.8
80.2
86.3
116.5
150.6
136.5
130.9
149.4
117.5
102.9
109.3
106.3
103.2
100.0
98.2
99.8
104.4
95.3

56.7
52.7
53.5
67.6
88.2
98.6
115. 6
150.1
97.4
97.3
108.7
102.3
101.7
100.0
93.3
93.7
97.1
90.3

80.2
81.4
112.0
160.7
165.0
182.3
157.0
164.7
115.0
100,3
101.1
98.9
101.8
100.0
96. 6
95.5
94.4
88.7

56.3
56.8
56.0
61.4
74.2
93.3
105. 9
141.8
113.0
103,5
108.9
104.9
103.1
100.0
98.2
97.4
96.9
95.7

93.1
89.9
86.9
100. 6
122.1
134.4
139. 1
167.5
109.2
92.8
99.7
93.6
109.0
100.0
89.9
83.0
80.5
73.4

80.8
81.2

98.1
98.3
98.4
98.4

96.3
95.8
95.6
95.8
95.3
94.9
94.5
94.7
95.1
95.6
96.0
96.1

98.6
98.4
98. 3
97.9
97.8
97.0
96.9
97.2
97,2
96.5
96.4
96.4

89.0
87.3
86.8
84.9
85.1
82.2
80.8
79.3
79.7
80.3
80.0
80.1
80.5
80.4
80.0
79.2
79.6
80.4
81.3
81.3
81.7
81.3
80.1
79.8

81.8
82.1
82.8
84.6
85.1
84.9
84.4
83.5

98.7
98.6
100.4
100.5
101.0
101.7
102.9

90.8
91.0
91.0
92.5
93.5
93.9
94.4
94.6
94.7
95.0
96.0
96.8

96.4
96.1
96.1
95.5
94.2
93.3
92.8
93.1
93.1
92.7
91.5
90.4

82.5
81.3
80.6
80.6
81.1
83.3
82.0
80.9
81.1
81.7
81.7
81.3

103.6 j
104.4 i
106.4
106.4 !
105.2 i
105.1
105.0 I
104.3
104.1
103. 6
102.3
102.1

96.6
97.5
98.8
97.9
96.8
96.4
96.7
96.7
97.5
97.8
96.0
96.2

95.9
96.1
95.6
94.9
94.2
93.4
93.4
93.7
93.9
94.2
94.0

96.6
96.6
96.5
96.7
96.7
96.6
97.2
97.1
97.1
97.1
97.1
97.3

105.1 j 89.4
103.9
88.3
103.2
86.5
102.7
85.5
102.6
84.6
102.4
82.2
100.7
80.0
98.9
77.7
99.1
75.5
96.5
73.8
94.0
73.3
91.2
72.4

79.9
78.8
77.4
77.9
78.0
76.4
75.4
75.4
76.3
75.1
71.8
70.5

101.2
100.9
100.6
98.8
96.8
95.4
94.3
92.7
91.8
90.4
90.2
90.0

96.2
95.7
95.4
94.7
92.9
90.0
88.9
87.4
86.4
85.8
85.6
84.4

93.0
92.3
91.2
91.0
89.9
88.9
87.8
87.3
86.6
86.0
85.2
84.8

97.3
97.0
96.5
96.2
96.2
96.2
96.2
95.9
95.4
95.3
95.2
91.3

I

:
i
j
i

78.7
78.5
78.2
78.5
77.5
74.5
71.7
71.2
69.7
68.8
67.8
66.9

• i For a description of this index see Bulletins of the U. S. Bureau of Labor Statistics, Numbers 473 and
493, the Federal Reserve Bulletin for October, 1927, and Monthly Labor Review for June, 1930, page 256*
Back figures.—See Bulletin of the U. S. Bureau of Labor Statistics No. 473 and Monthly Labor Review
for February, 1931, pp. 208 and 209.







APPENDIX

RECOMMENDATIONS OF THE FEDERAL ADVISORY
COUNCIL^TO THE FEDERAL RESERVE BOARD
OFFICERS ANDiMEMBERS OF THE FEDERAL ADVISORY COUNCIL
FOR THE YEAR 1930
OFFICERS
President, B. A. MCKINNEY.
Vice President, WALTER W. SMITH.
Secretary, WALTER LICHTENSTEIN.

EXECUTIVE COMMITTEE
B. A. MCKINNEY.
WALTER W. SMITH.
WM. C. POTTER.

HOWARD A. LOEB.
HARRIS CREECH.
MELVIN A. TRAYLOR.

MEMBERS
HERBERT K. HALLETT, Federal Reserve District No. 1.
WILLIAM C. POTTER, Federal Reserve District No. 2.
HOWARD A. LOEB, Federal Reserve District No. 3.
HARRIS CREECH, Federal Reserve District No. 4.
JOHN POOLE, Federal Reserve District No. 5.

J. P. BUTLER, Federal Reserve District No. 6.
MELVIN
WALTER
GEORGE
WALTER

A, TRAYLOR, Federal Reserve District No. 7.
W. SMITH, Federal Reserve District No. 8.
H. PRINCE, Federal Reserve District No. 9.
S. MCLUCAS, Federal Reserve District No. 10.

B. A. MCKINNEY, Federal Reserve District No. 11.
F. L. LIPMAN, Federal Reserve District No. 12.
NOTE.—The above list is correct as of December 31,1930. In the earlier part of the year Mr. F. 0. Wetnore was president of the council and representative of the seventh Federal reserve district, but he died
> Aug. 26, 1930, and this necessitated changes. Before Mr. Wetmore's death Mr. McKinney was vice
n
resident of the council, and the executive committee was composed of Messrs. F. O. Westmore, B. A.
VIcKmney, W. C. Potter, L. L. Rue, Harris Creech, and W. W. Smith. Another change was due to the
act that Mr. Rue, representative of the third Federal reserve district, resigned during the year and his
ilace was taken by Mr. Loeb.

RECOMMENDATIONS OF THE FEDERAL ADVISORY COUNCIL
FEBRUARY 18, 1930

TOPIC—H. R. 7966 (McFadden bill).
Recommendation.—The Federal Advisory Council having been
•equested by the Federal Reserve Board to give consideration to
E R. 7966 begs to report that it is opposed to most of the provisions
L
)f this bill.
(1) The council sees no value in giving the Comptroller of the Cur•ency authority to examine Federal reserve banks. It believes that
his authority should continue to reside in the Federal Reserve Board,
is provided for in the Federal reserve act. The board has a staff
pecially trained to perform this function and it has been able thereby
o harmonize the operations of the Federal reserve banks under its
upervision.
(2) The council believes there is decided objection to the examinaion of State banks and trust companies by the Comptroller of the



227

228

ANNUAL EEPOBT OP THE FEDERAL RESERVE BOARD

Currency. The result of such activity would be an unnecessary
multiplicity of examinations and probable resentment on the part of
State banking departments. The present system of examinations by
State officials, supplemented when necessary by an examination by
the Federal reserve authorities, has resulted in satisfactory cooperation
between the State and Federal reserve examiners.
(3) The suggestion that the expenses of the examination shall be
borne by the Federal reserve banks would, if carried out, result in
one more compelling reason for more active participation on the part
of the Federal reserve banks in the money market for the purpose of
increasing their earnings to meet the burden of this additional expense.
(4) The council deems it unnecessary to provide for a special examination of the condition of any Federal reserve bank, and, in any
event, would consider it desirable to have an application to do so
supported by more than 10 member banks.
(5) In the opinion of the council the officers and board of directors
of the seveTal Federal reserve banks by reason of their intimate contact with member banks are better qualified to judge the desirability
of a given bank acting in a fiduciary capacity than is the Comptroller
of the Currency. Consequently it can find no merit in the proposal
to transfer from the Federal Reserve Board to the Comptroller of the
Currency the power to grant permission to a national bank to act in
a fiduciary capacity.
(6) The council objects to the proposed division of earnings of the
Federal reserve banks since this would be discriminating unfairly in
favor of one class of member banks. In this connection, the council
calls attention to its approval at its last meeting of S. R. 5723 with a
suggested amendment.
(7) The council does view with sympathy the purpose of the proposed bill in authorizing examinations of corporations affiliated with
member banks. But the council believes this is part of a larger problem connected with the development of chain or group banking. It
believes that before legislative action is decided upon it would be
well if the Federal Reserve Board undertook to study this question
and related topics as recommended by the council at its last meeting.
NOVEMBER 18, 1930
1.—Open-market operations and rediscount rates.
Recommendation.—In the opinion of the Federal Advisory Council
the present situation will be best served if the natural flow of credit is
unhampered by open-market operations or changes in the rediscount
rates. The seasonal demands during the balance of the year should
be met by rediscounting on the part of member banks.
TOPIC NO. 2.—Eligibility for rediscount of notes of finance companies.
Recommendation.—The Federal Advisory Council has had brought
to its attention by the secretary of the National Association of Finance
Companies the wish of the members of that association that "the
notes of finance companies, given to the banks for funds to be used in
financing the sale of merchandise/' be made eligible for rediscount
by the Federal reserve banks. The council does not believe the
rules of eligibility should be extended to make such notes eligible for
Digitized for rediscount,.
FRASER
TOPIC NO.



ANNUAL REPORT OF THE FEDEKAL RESERVE BOARD

229

AMENDMENTS TO FEDERAL RESERVE ACT
AMENDMENT AS TO REDISCOUNT OF PAPER OF ONE BORROWER
[PUBLIC—No. 120—71ST CONGRESS]
[H. R. 9046]
An Act To amend the fourth paragraph of section 13 of the Federal Reserve Act, as amended.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled, That the fourth paragraph of section 13 of the
Federal Reserve Act, as amended (United States Code, title 12, section 345), be
further amended to read as follows:
"The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or
guarantor, rediscounted for any member bank, shall at no time exceed the amount
for which such person, copartnership, association, or corporation may lawfully
become liable to a national banking association under the terms of section 5200
of the Revised Statutes, as amended: Provided, however, That nothing in this
paragraph shall be construed to change the character or class of paper now eligible
for rediscount by Federal reserve banks."
Approved, April 12, 1930.
AMENDMENT

PERMITTING WAIVER OF NOTICE REQUIRED OF
WITHDRAWING MEMBER BANKS
[PUBLIC—No. 134—71ST CONGRESS]

[H. R. 8877]
An Act To amend section 9 of the Federal Reserve Act, as amended.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled, That the ninth paragraph of section 9 of the
Federal Reserve Act (United States Code, title 12, section 328), as amended, be
further amended by inserting therein, immediately before the proviso now contained therein, the following: "Provided, That the Federal Reserve Board, in its
discretion and subject to such conditions as it may prescribe, may waive such
six months' notice in individual cases and may permit any such State bank or
trust company to withdraw from membership in a Federal reserve bank prior to
the expiration of six months from the date of the written notice of its intention
to withdraw."
Approved, April 17, 1930.
AMENDMENT WITH REGARD TO CANCELLATION OF FEDERAL
RESERVE BANK STOCK HELD BY BANKS WHICH HAVE DISCONTINUED BANKING OPERATIONS
[PUBLIC—No. 163—71ST CONGRESS]
[H. R. 6604]
An Act To amend sections 6 and 9 of the Federal Reserve Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States

of America in Congress assembled, That section 6 of the Act of December 23,
1913, known as the Federal Reserve Act (United States Code, title 12, section
288), be amended and reenacted to read as follows:
"SEC. 6. If any member bank shall be declared insolvent and a receiver appointed
therefor, the stock held by it in said Federal reserve bank shall be canceled,
without impairment of its liability, and all cash-paid subscriptions on said
stock, with one-half of 1 per centum per month from the period of last dividend,
if earned, not to exceed the book value thereof, shall be first applied to all debts
of the insolvent member bank to the Federal reserve bank, and the balance, if
any, shall be paid to the receiver of the insolvent bank.
"If any national bank which has not gone into liquidation as provided in
section 5220 of the Revised Statutes (United States Code, title 12, section 181)
and for which a receiver has not already been appointed for other lawful cause,
shall discontinue its banking operations for a period of sixty days the Comptroller of the Currency may, if he deems it advisable, appoint a receiver for



230

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

such bank. The stock held by the said national bank in the Federal reserve
bank of its district shall thereupon be canceled and said national bank shall
receive in payment therefor, under regulations to be prescribed by the Federal
Reserve Board, a sum equal to its cash-paid subscriptions on the shares canceled
and one-half of 1 per centum a month from the period of the last dividend, if
earned, notfcoexceed the book value thereof, less any liability of such national
bank to the Federal reserve bank.
" Whenever the capital stock of a Federal reserve bank is reduced either on
accpunt of a reduction in capital stock of any member bank or of the liquidation
or insolvency of such bank or on account of the appointment of a receiver for
a national bank following discontinuance of its banking operations as provided
in this section, the board of directors shall cause to be executed a certificate to
the Comptroller of the Currency showing such reduction of capital stock and
the amount repaid to such bank."
SEC. 2. That the eighth paragraph of section 9 of the Federal Reserve Act
as amended (United States Code, title 12, section 327), be amended and reenacted to read as follows:
"If at any time it shall appear to the Federal Reserve Board that a member
bank has failed to comply with the provisions of this section or the regulations
of the Federal Reserve Board made pursuant thereto, or has ceased to exercise
banking functions without a receiver or liquidating agent having been appointed
therefor, it shall be within the power of the board after hearing to require such
bank to surrender its stock in the Federal reserve bank and to forfeit all rights
and privileges of membership. The Federal Reserve Board may restore membership upon due proof of compliance with the conditions imposed by this
section."
Approved, April 23, 1930.
AMENDMENT WITH REGARD TO THE EXPENSE OF EXAMINATIONS
OF MEMBER BANKS
[PUBLIC—No. 434—71ST CONGRESS]
[S. 485]
An Act To amend section 9 of the Federal Reserve Act and section 5240 of the Revised Statutes of the
United States, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States
of America in Congress assembled, That the seventh paragraph of section 9 of
the Federal Reserve Act, as amended (U. S. C , title 12, sec. 326), is further
amended by striking out the last sentence thereof and inserting the following:
"The expenses of all examinations, other than those made by State authorities,
may, in the discretion of the Federal Reserve Board, be assessed against the
banks examined and, when so assessed, shall be paid bv the banks examined.
Copies of .the reports of such examinations may, in the discretion of the Federal
Reserve Board, be furnished to the State authorities having supervision of such
banks, to officers, directors, or receivers of such banks, and to any other proper
persons."
SEC. 2. That section 5240, United States Revised Statutes, as amended by
section 21 of the Federal Reserve Act, is further amended in the third paragraph thereof (U. S. C , title 12, sec. 483), by striking out the second sentence
of such paragraph and inserting in lieu thereof the following:
"The expense of such examinations may, in the discretion of the Federal
Reserve Board, be assessed against the banks examined, and, when so assessed,
shall be paid by the banks examined."
Approved, June 26, 1930.
AMENDMENT AUTHORIZING NATIONAL BANKS TO SURRENDER
TRUST POWERS
[PUBLIC—No. 435—7IST CONGRESS]
[S. 3627]
An Act To amend the Federal Reserve Act so as to enable national banks voluntarily to surrender the right
to exercise trust powers and to relieve themselves of the necessity of complying with the laws governing
banks exercising such powers, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of
America in Congress assembled, That subsection (k) of section 11 of the Federal
Reserve Acb (subsection (k) of section 248, United States Code, title 12), as



AMENDMENTS TO FEDERAL RESERVE ACT

231

amended, be further amended by adding at the end thereof a new paragraph
reading as follows:
# "Any national banking association desiring to surrender its right to exercise the
powers granted under this subsection, in order to relieve itself from the necessity
of complying with the requirements of this subsection, or to have returned to it
any securities which it may have deposited with the State authorities for the protection of private or court trusts, or for any other purpose, may file with the
Federal Reserve Board a certified copy of a resolution of its board of directors
signifying such desire. Upon receipt of such a resolution, the Federal Reserve
Board, after satisfying itself that such bank has been relieved in accordance with
State law of all duties as trustee, executor, administrator, registrar of stocks and
bonds, guardian of estates, assignee, receiver, committee of estates of lunatics or
other fiduciary, under court, private, or other appointments previously accepted
under authority of this subsection, may, in its discretion, issue to such bank a
certificate certifying that such bank is no longer authorized to exercise the powers
granted by this subsection. Upon the issuance of such a certificate by the Federal
Reserve Board, such bank (1) shall no longer be subject to the provisions of this
subsection or the regulations of the Federa] Reserve Board made pursuant thereto,
(2) shall be entitled to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts,
and (3) shall not exercise thereafter any of the powers granted by this subsection
without first applying for and obtaining a new permit to exercise such powers
pursuant to the provisions of this subsection. The Federal Reserve Board is
authorized and empowered to promulgate such regulations as it may deem necessary to enforce compliance with the provisions of this subsection and the proper
exercise of the powers granted therein."
Approved, June 26, 1930.
AMENDMENT WITH REGARD TO PROCEDURE IN ELECTIONS OF
FEDERAL RESERVE BANK DIRECTORATES
[PUBLIC—No. 437—71ST CONGRESS]
[S. 4096]
An Act To amend section 4 of the Federal Keserve Act.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled, That section 4 of the Federal Reserve Act, as
amended (U. S. C , title 12, sec. 304), be further amended by striking out that
paragraph thereof which reads as follows:
"Any candidate having a majority of all votes cast in the column of first choice
shall be declared elected. If no candidate have a majority of all the votes in the
first column, then there shall be added together the votes cast by the electors for
such candidates in the second column and the votes cast for the several candidates
in the first column. If any candidate then have a majority of the electors voting,
by adding together the first and second choices, he shall be declared elected. If
no candidate have a majority of electors voting when the first and second choices
shall have been added, then the votes cast in the third column for other choices
shall be added together in like manner, and the candidate then having the highest
number of votes shall be declared elected. An immediate report of election shall
be declared."
and by inserting in lieu thereof the following:
"Any candidate having a majority of all votes cast in the column of first choice
shall be declared elected. If no candidate have a majority of all the votes in the
first column, then there shall be added together the votes cast by the electors for
such candidates in the second column and the votes cast for the several candidates
in the first column. The candidate then having a majority of the electors voting
and the highest number of combined votes shall be declared elected. If no candidate have a majority of electors voting and the highest number of votes when
the first and second choices shall have been added, then the votes cast in the third
column for other choices shall be added together in like manner, and the candidate
then having the highest number of votes shall be declared elected. An immediate
report of election shall be declared."
Approved, June 26, 1930.
33454—31
16



232

ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD

REGULATIONS OF THE FEDERAL RESERVE BOARD
[As they existed on December 31, 1930]

REGULATION A, SERIES OF 1930
(Superseding Regulation A of 1928)

DISCOUNTS UNDER SECTIONS 13 AND 13a
ARTICLE A—NOTES, DRAFTS, AND BILLS OF EXCHANGE
SECTION I. GENERAL STATUTORY PROVISIONS

Any Federal reserve bank may discount for any of its member banks any note,
draft, or bill of exchange: Provided—
(a) It has a definite maturity at the time of discount of not more than 90 days,
.exclusive of days of grace; except that (1) if drawn or issued for an agricultural
purpose or based on livestock, it may have a maturity at the time of discount
of not more than nine months, exclusive of days of grace, and (2) certain bills
of exchange payable at sight or on demand are eligible even though they have no
definite maturity (see Section VII, below);
(6) It has been issued or drawn for an agricultural, industrial, or commercial
purpose, or the proceeds have been used or are to be used for such a purpose, or
it is a note, draft, or bill of exchange of a factor issued as such making advances
.exclusively to producers of staple agricultural products in their raw state;
(c) It was not issued or drawn for the purpose of carrying or trading in stocks,
bonds, or other investment securities, except obligations of the Government of
the United States; l
(d) The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or
guarantor, lediscounted for any member bank, shall at no time exceed the
amount for which such person, copartnership, association, or corporation may
lawfully become liable to a national banking association under the terms of section
5200 of the Revised Statutes, as amended;
(e) It is indorsed by a member bank; and
(/) It conforms to all applicable provisions of this regulation.
No Federal reserve bank may discount for any member State bank or trust
•company any of the notes, drafts, or bills of exchange of any one borrower who is
liable for borrowed money to such State bank or trust company in an amount
greater than that which could be borrowed lawfully from such State bank or
trust company were it a national banking association.
Any Federal reserve bank may make advances to its member banks on their
promissory notes for a period not exceeding 15 days, provided that they are
secured by ilotes, drafts, bills of exchange, or bankers' acceptances which are
eligible for discount or for purchase by Federal reserve banks, or by the deposit
or pledge of obligations of the Government of the United States.
SECTION II. 3ENERAL CHARACTER OF NOTES, DRAFTS, AND BILLS OF EXCHANGE
ELIGIBLE

The Federal Reserve Board, exercising is statutory right to define the character
of a note, draft, or bill of exchange eligible for discount at a Federal reserve
bank has determined that—
(a) It mujst be a negotiable note, draft, or bill of exchange which has been
issued or drawn, or the proceeds of which have been used or are to be 2
used in the
first instance, in producing, purchasing, carrying, or marketing goods in one or
more of the steps of the process of production, manufacture, or distribution, or
for the purpose of carrying or trading in obligations of the Government of the
United States, and the name of a party to such transaction must appear upon
it as maker, drawer, acceptor, or indorser.
(6) It must not be a note, draft, or bill of exchange the proceeds of which have
been or are to be advanced or loaned to some other borrower, except as to paper
described below under Sections VI (b) and VIIL
1 When used in this regulation, the words "obligations of the Government of the United States" shall be
construed to include only bonds, notes, certificates of indebtedness and Treasury bills of the Government
of 2the United States.
When used in this regulation the word "goods" shall be construed to include goods, wares, merchandise,
or agricultural products, including livestock.




REGULATIONS OF THE FEDERAL RESERVE BOARD

233

(c) It must not be a note, draft, or bill of exchange the proceeds of which have
been used or are to be used for permanent or fixed investments of any kind, such
as land, buildings, or machinery, or for any other capital purpose.
(d) It must not be a note, draft, or bill of exchange the proceeds of which have
been used or are to be used for investments of a purely speculative character.
(e) It may be secured by the pledge of goods or collateral of any nature, including paper which is ineligible for discount, provided it (the note, draft, or
bill of exchange) is otherwise eligible.
SECTION III. APPLICATIONS FOR DISCOUNT

Every application for the discount of notes, drafts, or bills of exchange must
contain a certificate of the member bank, in form to be prescribed by the Federal
reserve bank, that—
(1) To the best of its knowledge and belief, such notes, drafts, or bills of
exchange have been issued or drawn, or the proceeds thereof have been or are to
be used, for such a purpose as to render them eligible for discount under the terms
of this regulation, and
(2) That such notes, drafts, or bills of exchange have not been acquired from
a nonmember bank, or, if so acquired, that the applying member bank has received permission from the Federal Reserve Board to discount with the Federal
reserve bank paper acquired from nonmember banks.
In the case of a member State bank or trust company, every such application
must contain a certificate or guaranty to the effect that the borrower is not liable,
and will not be permitted to become liable during the time his paper is held by
the Federal reserve bank, to such bank or trust company for borrowed money
in an amount greater than that which could be borrowed lawfully from such
State bank or trust company were it a national banking association.
SECTION IV. PROMISSORY NOTES

(a) Definition.—A promissory note, within the meaning of this regulation,
is defined as an unconditional promise, in writing, signed by the maker, to pay,
in the United States, at a fixed or determinable future time, a sum certain in
dollars to order or to bearer.
(b) Evidence of eligibility and requirement of statements.—A Federal reserve
bank must be satisfied by reference to the note or otherwise that it is eligible for
discount, and the member bank shall certify in its application whether a financial
statement of the borrower is on file with it.
A recent financial statement of the borrower must be on file with the member
bank if it has discounted the note for a nondepositor or a nonmember bank, and
in all other cases unless—
(1) It is secured by a warehouse, terminal, or other similar receipt covering
goods in storage, by a valid prior lien on livestock which is being marketed or
fattened for market, or by obligations of the Government of the United States; or
(2) The aggregate of obligations of the borrower discounted and offered for
discount at the Federal reserve bank by the member bank is less than a sum equal
to 10 per cent of the paid-in capital of the member bank and is less than $5,000.
Whenever the borrower has closely affiliated or subsidiary corporations or
firms, the borrower's financial statement shall be accompanied by separate financial statements of such affiliated or subsidiary corporations or firms, unless the
statement of the borrower clearly indicates that such note is both eligible from a
legal standpoint and acceptable from a credit standpoint or unless financial statements of such affiliated or subsidiary corporations or firms are on file with the
Federal reserve bank.
A Federal reserve bank shall use its discretion in taking the steps necessary to
satisfy itself as to eligibility. Compliance of a note with Section II (c) may be
evidenced by a statement of the borrower showing a reasonable excess of quick
assets over current liabilities. A Federal reserve bank may, in any case, require
the financial statement of the borrower to be filed with it,
SECTION V. DRAFTS, BILLS OF EXCHANGE, AND TRADE ACCEPTANCES

(a) Definition.—A draft or bill of exchange, within the meaning of this regulation, is defined as an unconditional order in writing, addressed by one person
ijo another, signed by the person giving it, requiring the person to whom it is
addressed to pay in the United States, at a fixed or determinable future time, a
sum certain in dollars to the order of a specified person; and a trade acceptance



234

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

is defined as a draft or bill of exchange, drawn by the seller on the purchaser of
goods sold,3 and accepted by such purchaser.
(b) Evidence of eligibility and requirement of statements.—A Federal reserve
bank shall take such steps as it deems necessary to satisfy itself as to the eligibility
of the draft, bill, or trade acceptance offered for discount and may require a recent
financial statement of one or more parties to the instrument. The draft, bill,
or trade acceptance should be drawn so as to evidence the character of the underlying transaction, but if it is not so drawn evidence of eligibility may consist of
a stamp or certificate affixed by the acceptor or drawer in a form satisfactory to
the Federal reserve bank.
SECTION VI. AGRICULTURAL PAPER

(a) Definition.—Agricultural paper, within the meaning of this regulation,
is denned as a negotiable note, draft, or bill of exchange issued or drawn, or the
proceeds of which have been or are to be used, for agricultural purposes, including
the productiDn of agricultural products, the marketing of agricultural products by
the growers thereof, or the carrying of agricultural products by the growers
thereof pending orderly marketing, and the breeding, raising, fattening, or marketing of livestock, and which has a maturity at the time of discount of not more
than nine months, exclusive of days of grace.
(b) Paper of cooperative marketing associations.—Under the express terms
of section 13a, notes, drafts, bills of exchange, or acceptances issued or drawn by
cooperative marketing associations composed of producers of agricultural products are deemed to have been issued or drawn for an agricultural purpose, if the
proceeds thereof have been or are to be—
(1) Advanced by such association to any members thereof for an agricultural purpose; or
(2) Used by such association in making payments to any members thereof
on account of agricultural products delivered by such members to the association; or
(3) Used by such association to meet expenditures incurred or to be incurred by the association in connection with the grading, processing,
packing, preparation for market, or marketing of any agricultural product
handled by such association for any of its members.
These are not the only classes of paper of such associations which are eligible
for discount, however, and any other paper of such associations which complies
with the applicable requirements of this regulation may be discounted on the
same terms and conditions as the paper of any other person or corporation.
Paper of cooperative marketing associations the proceeds of which have been
or are to be used (1) to defray the expenses of organizing such associations, or
(2) for the acquisition of warehouses, for the purchase or improvement of real
estate, or for any other permanent or fixed investment of any kind, are not eligible
for discount, even though such warehouses or other property are to be used
exclusively in connection with the ordinary operations of the association.
(c) Eligibility.—To be eligible for discount, agricultural paper, whether a
note, draft, bill of exchange, or trade acceptance, must comply with the respective
sections of this regulation which would apply to it if its maturity were 90 days or
less.
(d) Discounts for Federal intermediate credit banks.—Any Federal reserve
bank may discount agricultural paper for any Federal intermediate credit bank;
but no Federal reserve bank shall discount for any Federal intermediate credit
oank any such paper which bears the indorsement of any nonmember State bank
or trust company which is eligible for membership in the Federal reserve system
under the terms of section 9 of the Federal reserve act as amended. In discounting such paper each Federal reserve bank shall give preference to the demands of
its own member banks and shall have due regard to the probable future needs of
its own member banks. Except with the permission of the Federal Reserve
Board, no Federal reserve bank shall discount paper for any Federal intermediate
credit bank when its own reserves amount to less than 50 per cent of its own
aggregate liabilities for deposits and Federal reserve notes in actual circulation.
2 A consignment of goods or a conditional sale of goods can not be considered "goods sold" within the
meaning of this clause. The purchase price of goods plus the cost of labor in effecting their installation may
be included in th3 amount for which the trade acceptance is drawn.




REGULATIONS OF THE FEDERAL RESERVE BOARD

235

Except with the permission of the Federal Reserve Board, the aggregate amount
of paper discounted by all Federal reserve banks for any one Federal intermediate
credit bank shall at no time exceed an amount equal to the paid-up and unimpaired capital and surplus of such Federal intermediate credit bank.
(e) Limitations.—The Federal Reserve Board prescribes no limitation on the
aggregate amount of notes, drafts, bills of exchange, and acceptances with maturities in excess of three months, but not exceeding six months, exclusive of days of
grace, which may be discounted by any Federal reserve bank; but the aggregate
amount of notes, drafts, bills of exchange, and acceptances with maturities in
excess of six months, but not exceeding nine months, which may be discounted by
any Federal reserve bank shall not exceed 10 per cent of its total assets.
SECTION VII. SIGHT DRAFTS SECURED BY BILLS OF LADING

A Federal reserve bank may discount for any of its member banks bills of
exchange payable at sight or on demand which—
(a) Grow out of the domestic shipment or the exportation of nonperishable,
readily marketable staples; and
(6) Are secured by bills of lading or other shipping documents conveying
or securing title to such staples.
All such bills of exchange shall be forwarded promptly for collection, and demand for payment shall be made promptly, unless the drawer instructs that they
be held until arrival of car, in which event they must be presented for payment
within a reasonable time after notice of arrival of such staples at their destination
has been received. In no event shall any such bill be held by or for the account
of a Federal reserve bank for a period in excess of 90 days.
In discounting such bills Federal reserve banks may compute the interest to
be deducted on the basis of the estimated life of each bill and adjust the amount
thus deducted after payment of such bills to conform to the actual life thereof.
SECTION VIII. FACTORS* PAPER

Notes, drafts, and bills of exchange of factors issued as such for the purpose of
making advances exclusively to producers of staple agricultural products in their
raw state are eligible for discount with maturities not in excess of 90 days,
exclusive of days of grace, irrespective of the requirements of Sections II (a)
and II (6).
SECTION IX. PAPER ACQUIRED FROM NONMEMBER BANKS

(a) Except with the permission of the Federal Reserve Board, no Federal
reserve bank shall discount any paper acquired by a member bank from a nonmember bank or bearing the signature or indorsement of a nonmember bank;
except that Federal reserve banks may discount bankers' acceptances and other
eligible paper bearing the signature or indorsement of a nonmember bank, if such
paper was bought by the offering bank in good faith on the open market from
some party other than the nonmember bank.
(b) Applications for permission to rediscount paper acquired from nonmember
banks shall be made in writing by the member banks which desire to offer such
paper for rediscount and shall state fully the facts which gave rise to each application and the reasons why the applying member banks feel justified in seeking
such permission. Such applications shall be addressed to the Federal Reserve
Board, but shall be filed with the Federal reserve agent, who shall forward them
promptly to the Federal Reserve Board with his recommendations.
(c) The Federal Reserve Board hereby grants its permission for Federal
reserve banks to discount for member banks paper bearing the signature or
indorsement of Federal intermediate credit banks, if such paper is otherwise
eligible under the law and this regulation.
ARTICLE B—BANKERS' ACCEPTANCES

4

SECTION X. DEFINITION

A banker's acceptance within the meaning of this regulation is defined as a draft
or bill of exchange, whether payable in the United States or abroad and whether
payable in dollars or some other money, of which the acceptor is a bank or trust
* For regulations governing the acceptance by member banks of drafts and bills of exchange drawn on
them, see Regulation C.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

company, 01 a firm, person, company, or corporation engaged generally in the
business of granting bankers' acceptance credits.
SECTION XI. ELIGIBILITY

A Federal reserve bank may discount any such bill bearing the indorsement of a
member bank and having a maturity at the time of discount not greater than that
prescribed by Section XII (a), which has been drawn under a credit opened for
the purpose *of conducting or settling accounts resulting from a transaction or
transactions involving any one of the following:
(1) The shipment of goods between the United States and any foreign
country, or between the United States and an}7 of its dependencies or insular
possession, or between foreign countries, or between dependencies or insular
possessions and foreign countries;
(2) The shipment of goods within the United States, provided shipping
documents conveying security title are attached at the time of acceptance; or
(3) The storage in the United States or in any foreign country of readily
marketable staples,5 provided that the bill is secured at the time of acceptance by a warehouse, terminal, or other similar receipt, conveying security
title to such staples, issued by a party independent of the customer or issued
by a grain elevator or warehouse company duly bonded and licensed and
regularl}- inspected by State or Federal authorities with whom all receipts
for such staples and all transfers thereof are registered and without whose
consent no staples may be withdrawn; and provided further that the acceptor
remains isecured throughout the life of the acceptance. In the event that the
goods must be withdrawn from storage prior to the maturity of the acceptance
or the retirement of the credit, a trust receipt or other similar document covering the goods may be substituted in lieu of the original document, provided
that such substitution is conditioned upon a reasonably prompt liquidation
of the credit. In order to insure compliance with this condition it should be
required, when the original document is released, either (a) that the proceeds
of the goods will be applied within a specified time toward a liquidation of the
acceptance credit or (b) that a new document, similar to the original one,
will be resubstituted within a specified time.
Provided, That acceptances for any one customer in excess of 10 per cent of the
capital and surplus of the accepting bank must remain actually secured throughout the life of the acceptance, and in the case of the acceptances of member banks
this security must consist of shipping documents, warehouse receipts, or other
such documents, or some other actual security growing out of the same transaction as the acceptance, such as documentary drafts, trade acceptances, terminal
receipts, or trust receipts which have been issued under such circumstances, and
which cover goods of such a character, as to insure at all times a continuance of an
effective and lawful lien in favor of the accepting bank, other trust receipts not
being considered such actual security if they permit the customer to have access
to or control over the goods.
A Federal reserve bank may also discount any bill drawn by a bank or banker
in a foreign country or dependency or insular possession of the United States for
the purpose of furnishing dollar exchange as provided in Regulation C, provided
that it has a maturity at the time of discount of not more than three months,,
exclusive of days of grace.
SECTION XII. MATURITIES

(a) Legal requirements.—No such acceptance is eligible for discount which
has a maturity at the time of discount in excess of 90 days' sight, exclusive of
days of grace, except that acceptances drawn for agricultural purposes and
secured at the time of acceptance by warehouse receipts or other such documentsconveying or securing title covering readily marketable staples may be discounted
with maturities at the time of discount of not more than six months' sight,,
exclusive of days of grace.
(6) General conditions as to maturity of domestic acceptances.—Although a
Federal reserve bank may legally discount an acceptance having a maturity at
4
A readily mark stable staple within the meaning of these regulations may be denned as an article of com merce, agriculture, or industry of such uses as to make it the subject of constant dealings in ready markets
with such frequeni; quotations of price as to make (a) the price easily and definitely ascertainable and (6>
the staple itself easy to realize upon by sale at any time.




REGULATIONS OF THE FEDERAL RESERVE BOARD

237

the time of discount not greater than that prescribed under (a), it may decline to
discount any acceptance the maturity of which is in excess of the usual or customary period of credit required to finance the underlying transaction or which
is in excess of that period reasonably necessary to finance such transaction.
Since the purpose of permitting the acceptance of drafts secured by warehouse
receipts or other such documents is to permit of the temporary holding of readily
marketable staples in storage pending a reasonably prompt sale, shipment, or
distribution, no such acceptance should have a maturity in excess of the time
ordinarily necessary to effect a reasonably prompt sale, shipment, or distribution
into the process of manufacture or consumption.
SECTION XIII. EVIDENCE OF ELIGIBILITY

A Federal reserve bank must be satisfied, either by reference to the acceptance
itself or otherwise, that the acceptance is eligible for discount under the terms of
the law and the provisions of this regulation. The bill itself should be drawn so
as to evidence the character of the underlying transaction, but if it is not so
drawn evidence of eligibility may consist of a stamp or certificate affixed by the
acceptor in form satisfactory to the Federal reserve bank.

REGULATION B, SERIES OF 1928
(Superseding Regulation B of 1924)

OPEN MARKET PURCHASES OF BILLS OF EXCHANGE, TRADE
ACCEPTANCES, AND BANKERS' ACCEPTANCES UNDER
SECTION 14
SECTION I. GENERAL STATUTORY PROVISIONS

Section 14 of the Federal reserve act provides that, under rules and regulations
to be prescribed by the Federal Reserve Board, Federal reserve banks may
purchase and sell in the open market, at home or abroad, from or to domestic or
foreign banks, firms, corporations, or individuals, bills of exchange of the kinds
and maturities made eligible by the act for discount and bankers' acceptances,
with or without the indorsement of a member bank.
SECTION II. GENERAL CHARACTER OF BILLS AND ACCEPTANCES ELIGIBLE

The Federal Reserve Board, exercising it statutory right to regulate the
purchase of bills of exchange and acceptances, prescribes that—
(a) Any banker's acceptance or bill of exchange which is eligible for
discount under the terms of Regulation A is eligible for purchase by Federal
reserve banks in the open market, with or without the indorsement of a
member bank, if—
(1) It has been accepted by the drawee prior to purchase; or
(2) It is accompanied or secured by shipping documents or by warehouse, terminal, or other similar receipts conveying security title; or
(3) It bears a satisfactory bank indorsement;
(6) A banker's acceptance growing out of a transaction involving the
importation or exportation of goods may be purchased if it has a maturity
not in excess of six months, exclusive of days of grace, provided that it conforms in other respects to the applicable requirements of Regulation A; and
(c) A banker's acceptance growing out of a transaction involving the'
storage within the United States of goods actually under contract for sale
and not yet delivered or paid for may be purchased, provided that the acceptor is secured by the pledge of such goods, and provided further, that the
acceptance conforms in other respects to the applicable requirements of
Regulation A.
SECTION III. STATEMENTS

A bill of exchange, unless indorsed by a member bank, is not eligible for purchase
until a satisfactory statement has been furnished of the financial condition of
one or more of the parties thereto.



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

A banker's acceptance, unless accepted or indorsed by a member bank, is not
eligible for purchase until the acceptor has furnished a satisfactory statement of
its financial condition in form to be approved by the Federal reserve bank and
has agreed in writing with a Federal reserve bank to inform it upon request
concerning the transaction underlying the acceptance.
REGULATION C, SERIES OF 1928
(Superseding Regulation C of 1924)

ACCEPTANCE BY MEMBER BANKS OF DRAFTS AND BILLS
OF EXCHANGE l
ARTICLE A.—ACCEPTANCE OF DRAFTS OR BILLS OF EXCHANGE DRAWN AGAINST
DOMESTIC OR FOREIGN SHIPMENTS OF GOODS OR SECURED BY WAREHOUSE
RECEIPTS COVERING READILY MARKETABLE STAPLES
SECTION I. STATUTORY PROVISIONS

Under the provisions of the sixth paragraph of section 13 of the Federal reserve
act, as amended, any member bank may accept drafts or bills of exchange drawn
upon it, having not more than six months' sight to run, exclusive of days of grace,
which grow out of transactions involving the importation or exportation of goods;
or which grow out of transactions involving the domestic shipment of goods,
provided shipping documents conveying or securing title are attached at the time
of acceptance; or which are secured at the time of acceptance by a warehouse
receipt or other such document conveying or securing title covering readily
marketable staples.2 This paragraph limits the amount which any bank shall
accept for any one person, company, firm, or corporation, whether in a foreign
or domestic transaction, to an amount not exceeding at any time, in the aggregate,
more than 10 per cent of its paid-up and unimpaired capital stock and surplus.
This limit, however, does not apply in any case where the accepting bank remains
secured either by attached documents or by some other actual security growing
out of the same transaction as the acceptance. A trust receipt which permits the
customer to have access to or control over the goods will not be considered by
Federal reserve banks to be "actual security" within the meaning of section 13.
A bill of lading draft, however, is "actual security" even after the documents
have been released, provided that the draft is accepted by the drawee upon or
before the surrender of the documents. The law also provides that any bank
may accept such bills up to an amount not exceeding at any time, in the aggregate,
more than one-half of its paid-up and unimpaired capital stock and surplus; or,
with the approval of the Federal Reserve Board, up to an amount not exceeding
at any time, in the aggregate, more than 100 per cent of its paid-up and unimpaired
capital stock and surplus. In no event, however, shall the aggregate amount of
acceptances growing out of domestic transactions exceed 50 per cent of such
capital stock and surplus.
SECTION II. REGULATIONS

(1) Under the provisions of the law referred to above the Federal Reserve
Board has determined that any member bank, having an unimpaired surplus
equal to at least 20 per cent of its paid-up capital, which desires to accept drafts
or bills of exchange drawn for the purposes described above, up to an amount not
exceeding at any time, in the aggregate, 100 per cent of its paid-up and unimpaired
capital stock and surplus, may file an application for that purpose with the
Federal Reserve Board. Such application must be forwarded through the
Federal reserve bank of the district in which the applying bank is located.
(2) The Federal reserve bank shall report to the Federal Reserve Board upon
the standing of the applying bank, stating whether the business and banking
conditions prevailing in its district warrant the granting of such application.
(3) The approval of any such application may be rescinded upon 90 days'
notice to the bank affected.
1
For regulations governing the rediscount of bankers' acceptances by Federal reserve banks, see Regulation A, Article B.
2
A readily marketable staple within the meaning of these regulations may be defined as an article of
commerce, agriculture, or industry of such uses as to make it the subject of constant dealings in ready
markets with such frequent quotations of price as to make (a) the price easily and definitely ascertainable,
and (6) the staple itself easy to realize upon by sale at any time.




REGULATIONS OF THE FEDERAL RESERVE BOARD

239

ARTICLE B.—ACCEPTANCE OF DRAFTS OR BILLS OF EXCHANGE DRAWN FOR THE
PURPOSE OF CREATING DOLLAR EXCHANGE
SECTION III. STATUTORY PROVISIONS

Section 13 of the Federal reserve act also provides that any member bank may
accept drafts or bills of exchange drawn upon it having not more than three
months' sight to run, exclusive of days of grace, drawn, under regulations to be
prescribed by the Federal Reserve Board, by banks or bankers in foreign countries
or dependencies or insular possessions of the United States for the purpose of
furnishing dollar exchange as required by the usages of trade in the respective
countries, dependencies, or insular possessions.
No member bank shall accept such drafts or bills of exchange for any one bank
to an amount exceeding in the aggregate 10 per cent of the paid-up and unimpaired capital and surplus of the accepting bank unless the draft or bill of exchange
is accompanied by documents conveying or securing title or by some other
adequate security. No member bank shall accept such drafts or bills in an
amount exceeding at any time in the aggregate one-half of its paid-up and unimpaired capital and surplus. This 50 per cent limit is separate and distinct from
and not included in the limits placed upon the acceptance of drafts and bills of
exchange as described under Article A of this regulation.
SECTION IV. REGULATIONS

Any member bank desiring to accept drafts drawn by banks or bankers in
foreign countries or dependencies or insular possessions of the United States for
the purpose of furnishing dollar exchange shall first make an application to the
Federal Reserve Board setting forth the usages of trade in the respective countries,
dependencies, or insular possessions in which such banks or bankers are located.
If the Federal Reserve Board should determine that the usages of trade in such
countries, dependencies, or possessions require the granting of the acceptance
facilities applied for, it will notify the applying bank of its approval and will
also publish in the Federal Reserve Bulletin the name or names of those countries,
dependencies, or possessions in which banks or bankers are authorized to draw on
member banks whose applications have been approved for the purpose of
furnishing dollar exchange.
The Federal Reserve Board reserves the right to modify or on 90 days' notice to
revoke its approval either as to any particular member bank or as to any foreign
country or dependency or insular possession of the United States in which it has
authorized banks or bankers to draw on member banks for the purpose of furnishing dollar exchange.
REGULATION D, SERIES OF 1930
(Superseding Regulation D of 1928)

RESERVES OF MEMBER BANKS
SECTION I. STATUTORY PROVISIONS

Section 19 of the Federal reserve act provides, in part, as follows:
BANK RESERVES

SEC. 19. Demand deposits within the meaning of this act shall comprise all deposits payable within
thirty days, and time deposits shall comprise all deposits payable after thirty days, all savings accounts
and certificates of deposit which are subject to not less than thirty days' notice before payment, and all
postal savings deposits.
Every bank, banking association, or trust company which is or which becomes a member of any Federal
reserve bank shall establish and maintain reserve balances with its Federal reserve bank as follows:
(a) If not in a reserve or central reserve city, as now or hereafter defined, it shall hold and maintain with
the Federal reserve bank of its district an actual net balance equal to not less than seven per centum of the
aggregate amount of its demand deposits and three per centum of its time deposits.
(6) If in a reserve city, as now or hereafter denned, it shall hold and maintain with the Federal reserve
bank of its district an actual net balance equal to not less than ten per centum of the aggregate amount of
its demand deposits and three per centum of its time deposits: Provided, however, That if located in the
outlying districts of a reserve city or in territory added to^such a city by the extension of its corporate
charter, it may, upon the affirmative vote of five members of the Federal Reserve Board, hold and maintain the reserve balances specified in paragraph (a) hereof.
(c) If in a central reserve city, as now or hereafter denned, it shall hold and maintain with the Federal
reserve bank of its district an actual net balance equal to not less than thirteen per centum of the aggregate amount of its demand deposits and three per centum of its time deposits: Provided, however, That if
located in the outlying districts of a central reserve city or in territory added to such city by the extension




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

of its corporate charter, it may, upon the affirmative vote of five members of the Federal Reserve Board*
hold and maintain the reserve balances specified in paragraphs (a) or (6) thereof.
*
*
*
*
*
*
*
The required balance carried by a member bank with a Federal reserve bank may, under the regulations
and subject to such penalties as may be prescribed by the Federal Reserve Board, be checked against
and withdrawn by such member bank for the purpose of meeting existing liabilities: Provided, however,
That no bank sr all at any time make new loans or shall pay any dividends unless and until the total balance
required by law is fully restored.
In estimating the balances required by this act, the net difference of amounts due to and from other banks
shall be taken :is the basis for ascertaining the deposits against which required balances with Federal
reserve banks shall be determined.

The various Liberty bond acts (act of April 24, 1917, sec. 7; act of September
24, 1917, sec. 8; act of April 4, 1918, sec. 8) provide, in part, as follows:
That the provisions * * * with reference to the reserves required to be kept by national banking
associations and other member banks of the Federal reserve system, shall not apply to deposits of public
moneys by the United States in designated depositaries.
SECTION II. DEFINITIONS

(a) Demand deposits.—The term "demand deposits" shall include all deposits
which are payable within 30 days except "savings accounts," "time certificates
of deposit," and "postal savings deposits/' as defined below.
(b) Time deposits.—The term "time deposits" shall include all "time deposits,
open accounts," all "savings accounts," all "time certificates of deposit," and
all "postal savings deposits," as defined below.
(c) Time deposits, open accounts.—The term "time deposits, open accounts"
shall mean deposits not evidenced by certificates of deposit or savings pass
books, in respect to which a written contract is entered into with the depositor
at the time the deposit is made that neither the whole nor any part of such deposit may be withdrawn, by check or otherwise, except on a given date, not less
than 30 days after the date of the deposit, or on written notice which must be
given by the: depositor a certain specified number of days in advance, in no case
less than 30 days.
(d) Savings accounts.—The term "savings accounts" shall mean those deposits
<in respect to which—
(1) The pass book, certificate, or other similar form of receipt must be
presented to the bank whenever a withdrawal is made.
(2) The depositor may at any time be required by the bank to give
notice of an intended withdrawal not less than 30 days before a withdrawal
is made, and
(3) The bank's printed regulations, accepted by the depositor at the time
the account is opened, include the above requirements.
(e) Time certificates of deposit.—A "time certificate of deposit" is defined as
an instrument evidencing the deposit with a bank, either with or without interest,
of a certain sum specified on the face of the certificate payable in whole or in
part to the depositor or on his order—
(1) On a certain date, specified on the certificate, not less than 30 days
•after the date of the deposit, or
(2) After the lapse of a certain specified time subsequent to the date of
the certificate, in no case less than 30 days, or
(3) Upon written notice, which the bank may at its option require to be
given a certain specified number of days, not less than 30 days, before the
date of repayment, and
(4) In all cases only upon presentation of the certificate at each withdrawal for proper indorsement or surrender.
(/) Postal savings deposits.—The term "postal savings deposits" shall mean
deposits of postal savings funds in banks under the terms of the postal savings
act, approved June 25, 1910, as amended.
(g) Government deposits.—The term "Government deposits" shall mean
deposits of public moneys by the United States in designated depositaries.1
1
Deposits made by United States postmasters of Government funds, other than postal savings deposits,
received by them in their official capacity, constitute "Government deposits" within the meaning of this
regulation and, when made in designated depositaries, are exempt from the reserve requirements of section
19. The following classes of deposits, however, are not "Government deposits" within such meaning
and are not exempt from reserve requirements:
(1) Deposits o) Philippine funds made by the Philippine Government and carried under the title, " Treasurer of the Philippine Islands currency reserve fund account."
(2) Deposits o:? Porto Rican funds made by the Porto Rican Government.
(3) Deposits o'? Indian funds under the control of the Department of the Interior.
(4) Deposits o: States, counties, or municipalities.
(5) Deposits or the United States Shipping Board and the Emergency Fleet Corporation.




REGULATIONS OF THE FEDERAL RESERVE BOARD
SECTION III. COMPUTATION OF RESERVES

(a) Amounts of reserves to be maintained.—Every member bank of the
Federal reserve system is required by law to maintain on deposit with the Federal
reserve bank of its district an actual net balance equal to 3 per cent of its time
deposits plus—
Seven per cent of its demand deposits if not in a reserve or central reserve
city.
Ten per cent of its demand deposits if in a reserve city, except that if
located in an outlying district 2 of a reserve city or in territory added to such
city by the extension of the city's corporate limits such bank may, upon the
affirmative vote of five members of the Federal Reserve Board, be permitted
to maintain 7 per cent reserves against its demand deposits.
Thirteen per cent of its demand deposits if located in a central reserve
city, except that if located in an outlying district 2 of a central reserve city
or in territory added to such city by the extension of the city's corporate
limits, such bank may, upon the affirmative vote of five members of the
Federal Reserve Board, be permitted to maintain 7 per cent or 10 per cent
reserves against its demand deposits.
No reserves are reported to be maintained against Government deposits as
defined above.
A member bank exercising trust powers need not maintain reserves against
trust funds which it keeps segregated and apart from its general assets or which
it deposits in another institution to the credit of itself as trustee or other fiduciary.
If, however, such funds are mingled with the general assets of the bank, as permitted to national banks under authority of Section 11 (k) of the Federal reserve
act, a deposit liability thereby arises against which reserves must be maintained.
In computing reserve requirements, trust funds deposited in a member bank by
another bank to the credit of such other bank as trustee or other fiduciary must be
classified by the member bank as individual deposits rather than bank deposits.
(6) Deductions allowed in computing reserves.—Member banks in determining the amount against which reserves must be carried may deduct:
(1) From gross demand deposits, all Government deposits as defined
above.
(2) From the amount oi balances due to other batiks, the amount of balances due from other banks (except Federal reserve banks and foreign banks),
including in the amount due to other banks certified, cashiers', and treasurers'
checks outstanding, and including in the amount due from other banks out
of town items placed in the mail and charged to the account of correspondent
banks, items with a Federal reserve bank in process of collection, checks
drawn on banks located in the same city, and exchanges for clearing houses.
(c) Availability of checks as reserve.—Checks forwarded to a Federal reserve
bank for collection or credit can not be counted as part of the minimum reserve
balance to be carried by a member bank with its Federal reserve bank until such
time as may be specified in the appropriate time schedule referred to in Section IV
of Regulation J. If a member bank draw against checks before such time, the
draft will be charged against its reserve balance if such balance be sufficient in
amount to pay it; but any resulting impairment of reserve balances will be subject to all the penalties provided by the act and by this regulation.
SECTION IV. PENALTIES FOR DEFICIENCIES IN RESERVES

Inasmuch as it is essential that the law with respect to the maintenance by
member banks of the required minimum reserve balances be strictly complied
with, the Federal Reserve Board, under authority vested in it by section 19 of
the Federal reserve act, hereby prescribes the following rules governing penalties
for deficiencies in reserves:
(a) Basic penalty.
(1) Deficiencies in reserve balances of member banks in cities where Federal
reserve banks or branches thereof are located and in such other reserve cities as
the Federal Reserve Board may designate from time to time will be computed on
the basis of average daily net deposit balances covering semiweekly periods.
Deficiencies in reserve balances of member banks in all other reserve cities will
-be computed on the basis of average daily net deposit balances covering weekly
> The term "outlying district" is construed to mean that portion of a city which is located outside of,
and at a considerable distance from, the recognized business and financial center of such city, and includes,
all suburban districts within the corporate limits of such city.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

periods. Deficiencies in reserve balances of other member banks will be computed
on the basis of average daily net deposit balances covering semimonthly periods.
(2) In computing such deficiencies the required reserve balance of each member
bank at the close of business each day shall be based upon its net deposit balances
at the opening of business on the same day; and the semiweekly, weekly, and
semimonthly periods referred to in paragraph (1) hereof shall end at the close of
business on days to be fixed by the Federal reserve banks with the approval of
the Federal Reserve Board.
(3) Penalties for such deficiencies will be assessed monthly on the basis of
average daily deficiencies during each of the reserve computation periods ending
in the preceding calendar month.
(4) Such penalties shall be assessed at a basic rate of 2 per cent per annum
above the Federal reserve bank discount rate on 90-day commercial paper, in
effect on the first day of the calendar month in which the deficiencies occurred.
(6) Notice to directors of banks deficient in reserves.—Whenever it shall
appear that a bank is not paying due regard to the maintenance of its reserves,
the Federal reserve agent will address a letter to each director of such bank calling
attention to i;he situation and advising him of the requirements of the law and of
this regulation regarding the maintenance of reserves and the personal liability of
the directors permitting violations of the law.
(c) Progressive penalty.—-The Federal Reserve Board will also prescribe for
any Federal reserve district, upon the application of the Federal reserve bank of
that district, an additional progressive penalty for continued deficiencies in
reserves, in accordance with the following rules:
(1) When a member bank which is required to compute its reserve* on a semiweekly basis has an average deficiency in reserves for twelve consecutive semiweekly periods, there shall be assessed, in addition to the penalty at the basic
rate, a progressive penalty on semiweekly deficiencies occurring thereafter, until
such member bank has maintained the required average reserve for eight
consecutive semiweekly periods.
(2) When a member bank which is required to compute its reserves on a weekly
basis has an average deficiency in reserves for six consecutive weekly periods,,
there shall be assessed, in addition to the penalty at the basic rate, a progressive
penalty on weekly deficiencies occurring thereafter, until such member bank has
maintained the required average reserve for four consecutive weekly periods.
(3) When any other member bank has an average deficiency in reserves for
three consecutive semimonthly periods, there shall be assessed, in addition to the
penalty at the basic rate, a progressive penalty on semimonthly deficiencies
occurring thereafter, until such member bank has maintained the required average
reserve for two consecutive semimonthly periods.
(4) Such progressive penalty shall be at the rate of 1 per cent per annum for
the first calen dar month in wThich same is effective and shall increase at the rate of
1 per cent per annum for each consecutive calendar month thereafter in which the
bank's reserve deficiencies are subject to the progressive penalty; provided that
the maximum penalty charged shall not exceed 10 per cent per annum.
(d) Continued deficiencies.—Whenever any member bank has an average
deficiency in reserves for each reserve computation period during six consecutive
months, the Federal reserve agent shall promptly report the fact to the Federal
Reserve Board with a recommendation as to whether or not the board should:
(1) In the case of a national bank, direct the Comptroller of the Currency to
bring suit to forfeit the charter of such national bank pursuant to section 2 of the
Federal reserve act; or
(2) In the case of a State member bank, institute proceedings to require such
bank to surrender its stock in the Federal reserve bank and to forfeit all rights and
privileges of membership pursuant to section 9 of the Federal reserve act; or
(3) In either case, take such other action as the Federal reserve agent may
recommend or the Federal Reserve Board may consider advisable.
SECTION V. LOANS AND DIVIDENDS WHILE RESERVES ARE DEFICIENT

It is unlawful for any member bank the reserves of which are at any time
deficient to make any new loans or p&y any dividends unless and until the total
reserves required by law are fully restored, and the payment of penalties for
deficiencies in reserves does not exempt member banks from this prohibition of
law. As provided above, penalties for deficiencies in reserves are computed on
the basis of the average reserve balances for semiweekly, weekly, or semimonthly
periods; but i}his prohibition of law applies whenever the reserves are deficient
for one day or more, regardless of whether or not the average reserve balances
for the semiweekly, weekly, or semimonthly period are deficient.



REGULATIONS OF THE FEDERAL RESERVE BOARD

243

REGULATION E, SERIES OF 1928
(Superseding Regulation E of 1924)

PURCHASE OF WARRANTS
SECTION I. STATUTORY REQUIREMENTS

Section 14 of the Federal reserve act reads in part as follows:
Every Federal reserve bank shall have power—
(6) To buy and sell, at home or abroad, bonds and notes of the United States, and bills, notes, revenue
bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county,
district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts, such purchases to be made in accordance with rules and regulations prescribed by the Federal Reserve Board.
SECTION II. DEFINITIONS

Within the meaning of this regulation—
The term "warrant" shall be construed to mean "bills, notes, revenue bonds,
and warrants with a maturity from date of purchase of not exceeding six months.1'
The term "municipality" shall be construed to mean "State, county, district,
political subdivision, or municipality in the continental United States, including
irrigation, drainage, and reclamation districts.7'
The term "net funded indebtedness" shall be construed to mean the legal
gross indebtedness of the municipality (including the amount of any school
district or other bonds which depend for their redemption upon taxes levied
upon property within the municipality) less the aggregate of the following
items:
(1) The amount of outstanding bonds or other debt obligations made
payable from current revenues;
(2) The amount of outstanding bonds issued for the purpose of providing
the inhabitants of a municipality with public utilities, such as waterworks,
docks, electric plants, transportation facilities, etc.: Provided, That evidence is submitted showing that the income from such utilities is sufficient
for maintenance, for payment of interest on such bonds, and for the accumulation of a sinking fund sufficient for their redemption at maturity;
(3) The amount of outstanding improvement bonds, issued under laws
which provide for the levying of special assessments against abutting property in amounts sufficient to insure the payment of interest on the bonds
and the redemption thereof at maturity: Provided, That such bonds are
direct obligations of the municipality and included in the gross indebtedness of the municipality; and
(4) The total of all sinking funds accumulated for the redemption of
the gross indebtedness of the municipality, except sinking funds applicable
to bonds described in (1), (2), and (3) above.
SECTION III. CLASS OF WARRANTS ELIGIBLE FOR PURCHASE

Any Federal reserve bank may purchase warrants issued by a muncipality
in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues, provided—
(a) They are the general obligations of the entire municipality; it being
intended to exclude as ineligible for purchase all such obligations as are
payable from "local benefit" and "special assessment" taxes when the
municipality at large is not directly or ultimately liable;
(6) They are issued in anticipation of taxes or revenues which are due and
payable on or before the date of maturity of such warrants; but the Federal
Reserve Board may waive this condition in specific cases. For the purposes
of this regulation, taxes shall be considered as due and payable on the last
day on which they may ^e paid without penalty;
(c) They are issued by a municipality—
(1) Which has been in existence for a period of 10 years;
(2) Which for a period of 10 years previous to the purchase has
not defaulted for longer than 15 days in the payment of any part of
either principal or interest of any funded debt authorized to be contracted by it;
(3) Whose net funded indebtedness does not exceed 10 per centum
of the valuation of its taxable property, to be ascertained by the last
preceding valuation of property for the assessment of taxes.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
SECTION IV. " E X I S T E N C E " AND

"NONDEFAULT"

Warrants will be construed to comply with that part of Section III (c) relative*
to term of existence and nondefault, under the following conditions:
(1) Warrants issued by or in behalf of any municipality which was, subsequent
to the issuance of such warrants, consolidated with or merged into an existing
political division which meets the requirements of these regulations, will be
deemed to be the warrants of such political division: Provided, That such warrants were assumed by such political division under statutes and appropriate
proceedings the effect of which is to make such warrants general obligations of
such assuming political division and payable, either directly or ultimately,
without limitation to a special fund from the proceeds of taxes levied upon all the
taxable real and personal property within its territorial limits.
(2) Warrants issued by or in behalf of any municipality which was, subsequentto the issuance of such warrants, wholly succeeded by a newly organized political
division whose term of existence, added to that of such original political division
or of any other political division so succeeded, is equal to a period of 10 years will
be deemed to be warrants of such succeeding political division: Provided, That
during such period none of such political divisions shall have defaulted for a
period exceeding 15 days in the payment of any part of either principal or interest
of any funded debt authorized to be contracted by it: And provided further, That
such warrants were assumed by such new political division under statutes and
appropriate proceedings the effect of which is to make such warrants generaL
obligations of such assuming political division and payable, either directly or
ultimately, without limitation to a special fund from the proceeds of taxes levied
upon all the taxable real and personal property within its territorial limits.
(3) Warrants issued by or in behalf of any municipality which, prior to such
issuance, became the successor of one or more, or was formed by the consolidation
or merger of two or more, preexisting political divisions, the term of existence of
one or more of which, added to that of such succeeding or consolidated political
division, is equal to a period of 10 years, will be deemed to be warrants of a
political division which has been in existence for a period of 10 years: Provided,
That during such period none of such original, succeeding, or consolidated
political divisions shall have defaulted for a period exceeding 15 days in the
payment of any part of either principal or interest of any funded debt authorized
to be contracted by it.
SECTION V. LIMITATIONS

(a) Except with the approval of the Federal Reserve Board, no Federal'
reserve bank shall purchase and hold an amount in excess of 25 per cent of the
total amount of warrants outstanding at any time'and issued in conformity with
provisions of section 14 (6), above quoted, and actually sold by a municipality.
(b) Except with the approval of the Federal Reserve Board, the aggregate
amount invented by any Federal reserve bank in warrants of all kinds shall not
exceed at the time of purchase a sum equal to 10 per cent of the deposits kept by
its member banks with such Federal reserve bank.
(c) Except with the approval of the Federal Reserve Board, the maximum
amount which may be invested at the time of purchase by any Federal reserve
bank in warrants of any single municipality shall be limited to the following
percentages of the deposits kept in such Federal reserve bank by its member
banks:
Five per cent of such deposits in warrants of a municipality of 50,000
population or over;
Three per cent of such deposits in warrants of a municipality of over
30,000 population, but less than 50,000;
One per cent of such deposits in warrants of a municipality of over 10,000
population, but less than 30,000.
(d) Any Federal reserve bank may purchase from any of its member banks
warrants of any municipality, indorsed by such member bank, with waiver of
demand, notice, and protest if such warrants comply with Sections III and V (b)
of these regulations, except that where a period of 10 years is mentioned in III (c)
hereof a period of 5 years shall be substituted for the purposes of this clause.
SECTION VI. WARRANTS OF SMALL MUNICIPALITIES

Warrants of a municipality of 10,000 population or less shall be purchased only
with the special approval of the Federal Reserve Board.
The population of a municipality shall be determined by the last Federal or
State census. Where it can not be exactly determined the Federal Reserve
Board will
 make special rulings.


REGULATIONS OF THE FEDERAL RESERVE BOARD

245

SECTION VII. OPINION OF COUNSEL

Opinion of recognized counsel on municipal issues or of the regularly appointed
counsel of the municipality as to the legality of the issue shall be secured anct
approved in each case by counsel for the Federal reserve bank.
REGULATION F, SERIES OF 1930
(Superseding Regulation F of 1928)

TRUST POWERS OF NATIONAL BANKS
SECTION I. STATUTORY PROVISIONS

The Federal reserve act as amended by the act of September 26, 1918, and by
the act of June 26, 1930, provides in part:
SEC. 11. The Federal Reserve Board shall be authorized and empowered:
(k) To grant by special permit to national banks applying therefor, when not in contravention of State
or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of
estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity in which
State banks, trust companies, or other corporations which come into competition with national banks are
permitted to act under the laws of the State in which the national bank is located.
Whenever the laws of such State authorize or permit the exercise of any or all of the foregoing powers by
State banks, trust companies, or other corporations which compete with national banks, the granting to,
and the exercise of such powers by national banks shall not be deemed to be in contravention of State or
local law within the meaning of this act.
National banks exercising any or all of the powers enumerated in this subsection shall segregate all assets,
held in any fiduciary capacity from the general assets of the bank and shall keep a separate set of books and
records showing in proper detail all transactions engaged in under authority of this subsection. Such
books and records shall be open to inspection by the State authorities to the same extent as the books and
records of corporations organized under State law which exercise fiduciary powers, but nothing in this act
shall be construed as authorizing the State authorities to examine the books, records, and assets of the
national bank which are not held in trust under authority of this subsection.
No national bank shall receive in its trust department deposits of current funds subject to check or the
deposit of checks, drafts, bills of exchange, or other items for collection or exchange purposes. Funds deposited or held in trust by the bank awaiting investment shall be carried in a separate account and shall
not be used by the bank in the conduct of its business unless it shall first set aside in the trust department
United States bonds or other securities approved by the Federal Reserve Board.
In the event of the failure of such bank the owners of the funds held in trust for investment shall have
a lien on the bonds or other securities so set apart in addition to their claim against the estate of the bank.
Whenever the laws of a State require corporations acting in a fiduciary capacity, to deposit securities with,
the State authorities for the protection of private or court trusts, national banks so acting shall be required
to make similar deposits and securities so deposited shall be held for the protection of private or court trusts,,
as provided by the State law.
National banks in such cases shall not be required to execute the bond usually required of individuals if
State corporations under similar circumstances are exempt from this requirement.
National banks shall have power to execute such bond when so required by the laws of the State.
In any case in which the laws of a State require that a corporation acting as trustee, executor, administrator, or in any capacity specified in this section, shall take an oath or make an affidavit, the president, vica
president, cashier, or trust officer of such national bank may take the necessary oath or execute the necessary
affidavit.
It shall be unlawful for any national banking association to lend any officer, director, or employee any
funds held in trust under the powers conferred by this section. Any officer, director, or employee making
such loan, or to whom such loan is made, may be fined not more than $5,000, or imprisoned not more than
five years, or may be both fined and imprisoned, in the discretion of the court.
In passing upon applications for permission to exercise the powers enumerated in this subsection, the
Federal Reserve Board may take into consideration the amount of capital and surplus of the applying
bank, whether or not such capital and surplus is sufficient under the circumstances of the case, the needs
of the community to be served, and any other facts and circumstances that seem to it proper, and may grant
or refuse the application accordingly: Provided, That no permit shall be issued to any national banking
association having a capital and surplus less than the capital and surplus required by State law of Stat&
banks, trust companies, and corporations exercising such powers.
Any national banking association desiring to surrender its right to exercise the powers granted under
this subsection, in order to relieve itself from the necessity of complying with the requirements of this,
subsection, or to have returned to it any securities which it may have deposited with the State authorities
for the protection of private or court trusts, or for any other purpose, may file with the Federal ReserveBoard a certified copy of a resolution of its board of directors signifying such desire. Upon receipt of such
a resolution, the Federal Reserve Board, after satisfying itself that such bank has been relieved in accordance with State law of all duties as trustee, executor, administrator, registrar of stocks and bonds, guardian
of estates, assignee, leceiyer, committee of estates of lunatics or other fiduciary, under court, private, or
other appointments previously accepted under authority of this subsection, may, in its discretion, issue to.
such bank a certificate certifying that such bank is no longer authorized to exercise the powers granted by
this subsection. Upon the issuance of such a certificate by the Federal Reserve Board, such bank (1) shall
no longer be subject to the provisions of this subsection or the regulations of the Federal Reserve Board
made pursuant thereto, (2) shall be entitled to have returned to it any securities which it may have de^
posited with the State authorities for the protection of private or court trusts, and (3) shall not exercisethereafter any of the powers granted by this subsection without first applying for and obtaining a new
permit to exercise such powers pursuant to the provisions of this subsection. The Federal Reserve Board
is authorized and empowered to promulgate such regulations as it may deem necessary to enforce conn
pliance with the provisions of this subsection and the proper exercise of the powers granted therein.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
SECTION II. APPLICATIONS

A national bank desiring to exercise any or all of the powers authorized by
by section 11 (k) of the Federal reserve act, as amended by the act of September
26, 1918, shall make application to the Federal Reserve Board, on a form approved
by said board, for a special permit authorizing it to exercise such powers. In the
case of an original application—that is, where the applying bank has never been
granted the right to exercise any of the powers authorized by section 11 (k)—the
application should be made on F. R. B. Form 61. In the case of a supplemental
application—that is, where the applying bank has already been granted the right
to exercise one or more of the powers authorized by section 11 (k)—the application should be made on F. R. B. Form 61-6. Both forms are made a part of
this regulation any may be obtained from the Federal Reserve Board or any
Federal reserve bank.
In the case of the organization of a new national bank, the conversion of a
State bank or trust company into a national bank, the consolidation of two
national banks, or the consolidation of a State bank or trust company with a
national bank under the charter of the latter, application for such a permit may
be made in advance on behalf of the new, converted, or consolidated national
bank, and the permit may be issued simultaneously with the consummation of
such organi5;ation, conversion, or consolidation. In the case of the organization
of a new national bank, the application may be made on behalf of the new national
bank by the organizers thereof. In the case of the conversion of a State bank or
trust company into a national bank, the application may be made by the State
bank or trust company on behalf of the national bank into which it is to be converted. In the case of the consolidation of two or more national banks or the
consolidation of a State bank or trust company with a national bank under the
charter of the latter, the application may be made by the national bank the charter
of which is to be retained.
SECTION III. CONSOLIDATION OF TWO OR MORE NATIONAL BANKS

Where two or more national banks consolidate under the provisions of the act
of November 7, 1918, and any one of such banks has, prior to such consolidation,
received a permit from the Federal Reserve Board to act in fiduciary capacities,
the rights existing under such permit pass by operation of law to the consolidated
bank and the consolidated bank may exercise such fiduciary powers in the same
manner and to the same extent as the bank to which such permit was originally
issued. In order that the consolidated bank's records may be complete and its
right to exercise such fiduciary powers may not be questioned, however, it is
advisable for the consolidated bank to obtain from the Federal Reserve Board
a permit to exercise fiduciary powers in its own name. Such a permit may be
applied for in advance of the consolidation and may be issued in the name of
the consolidated bank effective when the consolidation is consummated.
SECTEON IV. CONSOLIDATION OF STATE BANK WITH NATIONAL BANK

Section 3 of the act November 7, 1918, as amended by section 1 of the act of
February 2&, 1927, which authorizes any bank, trust company, savings bank, or
other banking institution incorporated under the laws of any State or of the
^District of Columbia to be consolidated directly with a national bank located
in the same county, city, town, or village under the charter of such national
bank, provides in part that when such consolidation is effected—
* * * all the rights, franchises, and interests of such State or district bank so consolidated with a
national bankir g association in and to every species of property, real, personal, and mixed, and choses in
action thereto belonging, shall be deemed to be transferred to and vested in such national banking association into which it is consolidated without any deed or other transfer, and the said consolidated national
banking association shall hold and enjoy the same and all rights of property, franchises, and interests including the right of succession as trustee, executor, or in any other fiduciary capacity in the same manner and to
the same extent us was held and enjoyed by such State or district bank so consolidated with such national banking association.
*
*
*
*
*
*
*
The words estate bank," "State banks," "bank," or "banks," as used in this section, shall be held
to include trust companies, savings banks, or other such corporations or institutions carrying on the banking business under the authority of State laws.

The purpose of this provision is to make clear the right of such a consolidated
national ba:ik to succeed to the specific trusteeships, executorships, and other
fiduciary appointments under which the State institution was acting prior to
the consolidation or in which it had been appointed or designated to act under



KEGULATIONS OF THE FEDERAL RESERVE BOARD

247

wills or other instruments which had not become effective at the time of consolidation through the death of a testator, the probate of a will or otherwise; but it
does not confer upon such national banks the right to act generally in fiduciary
capacities or to undertake any new trust business. It is necessary for the consolidated national bank to have a permit from the Federal Reserve Board to
act in fiduciary capacities, therefore, before undertaking to act generally in
fiduciary capacities or to accept any new trust business. If the national bank
does not desire to act generally in fiduciary capacities or to accept any new trust
business, but desires merely to continue to execute the specific trusteeships,
executorships, and other fiduciary affairs which were actually being executed by
the State institution at the time of the consolidation or which the State institution
had been designated to execute under wills or other instruments which had not
yet become effective through the death of the testator, the probate of the will
or otherwise, it is not technically necessary for the national bank to have a permit
from the Federal Reserve Board in order to execute such specific trusts; but it is
advisable for the national bank to have such a permit, in order that its right to
continue to execute these trusts may not be questioned. In all cases involving
the consolidation of a State institution having a trust business with a national
bank under the provisions of the above-mentioned act, therefore, the national
bank should obtain from the Federal Reserve Board a permit to act in fiduciary
capacities before the consolidation becomes effective, unless such national bank
already has such a permit.
SECTION V. SEPARATE TRUST DEPARTMENTS

Every national bank which obtains from the Federal Reserve Board a permit
to act in fiduciary capacities shall establish a separate trust department. Such
department shall be established before such bank undertakes to act in any
fiduciary capacity and shall be- placed under the management of an officer or
officers whose duties shall be prescribed by the board of directors of the bank,
either by an amendment to the by-laws of the bank or by a resolution duly entered in the minutes of the board of directors.
SECTION VI. DEPOSIT OF SECURITIES WITH STATE AUTHORITIES

Whenever the laws of a State require corporations acting in a fiduciary capacity to deposit securities with the State authorities for the protection of private
or court trusts, every national bank in such State which obtains a permit from
the Federal Reserve Board to act in fiduciary capacities shall, before undertaking to act in such capacities, make a similar deposit of securities. Such
securities shall be deposited with the State authorities, unless the State authorities refuse to accept them. If the State authorities refuse to accept such securities, they shall be deposited with the Federal reserve agent of the district in
which such national bank is located. Securities so deposited shall be held for
the protection of private or court trusts, as provided by the State law.
SECTION VII. CUSTODY OF TRUST SECURITIES AND INVESTMENTS

The securities and investments held in each trust shall be kept separate and
distinct from the securities owned by the bank and separate and distinct one
from another. Trust securities and investments shall be placed in the joint custody of two or more officers or other employees designated by the board of
directors of the bank and all such officers and employees shall be bonded.
SECTION VIII. FUNDS AWAITING INVESTMENT OR DISTRIBUTION

(a) In general.—Funds received or held in the trust department of a national
bank awaiting investment or distribution shall be invested or distributed as
soon as practicable and shall not be held uninvested by the bank any longer
than is reasonably necessary.
(6) Deposits in commercial or savings department of trustee bank.—Funds
received or held in the trust department of a national bank awaiting investment or distribution may be deposited in the commercial department or savings
department of the bank to the credit of the trust department; provided that the
bank first delivers to the trust department, as collateral security—
(1) Bonds, notes, or certificates of indebtedness of the United States; or
(2) Other readily marketable securities of the classes in which State trust
companies or State banks exercising trust powers are authorized or per33454r—31—17



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

mittecl to invest trust funds under the laws of the State in which such bank
is located; or
(3) Other readily marketable securities of the classes defined as "investment securities" pursuant to section 5136 of the Revised Statutes of the
United States as amended by the act of February 25, 1927.
The United States bonds or other securities so deposited as collateral shall be
owned by the bank and shall at all times be at least equal in market value to
the amount of trust funds so deposited in the commercial department.1
SECTION IX. INVESTMENT OF TRUST FUNDS

(a) Private trusts.—Funds held in trust must be invested as soon as practicable in strict accordance with the terms of the will, deed, or other instrument
creating the trust. Where the instrument creating the trust contains provisions
authorizing the bank, its officers, or its directors to exercise their discretion in
the matter of investments, funds held in trust may be invested only in those
classes of securities which are approved by the directors of the bank or a committee of directors appointed for that purpose. Where the instrument creating
the trust does not specify the character or class of investments to be made and
does not expressly vest in the bank, its officers, or its directors a discretion in
the matter of investments, funds held in trust shall be invested in any securities
in which corporate or individual fiduciaries in the State in which the bank is
located ms,y lawfully invest.
(6) Court trusts.—Except as hereinafter provided, a national bank acting as
executor, administrator, or in any other fiduciary capacity, under appointment
by a court of competent jurisdiction, shall make all investments under an order
of that court, and copies of all such orders shall be filed and preserved with the
records of the trust department of the bank. If the court by general order vests
a discretion in the national bank to invest funds held in trust, or if under the laws
of the State in which the bank is located corporate fiduciaries appointed by the
court are permitted to exercise such discretion, the national bank so appointed
may invest such funds in any securities in which corporate or individual fiduciaries
in the State in which the bank is located may lawfully invest.
SECTION X. COMPENSATION OF BANK

A national bank acting in a fiduciary capacity is entitled to receive for its
services such fee or compensation as may be allowed by State law or provided
for in the will, deed, court order, or other instrument creating the trust. If the
amount of such fee or compensation is not regulated by State law or stipulated or
provided for in the instrument creating the trust, the national bank may charge
or deduct not more than a reasonable fee or compensation. Where the bank is
acting in a fiduciary capacity under appointment by a court, it may receive such
fee or compensation as shall be allowed or approved by that court.
After the deduction of a proper fee or compensation, determined in the manner
prescribed above, all income derived from the investment of the funds of a trust
shall be paid over to, or credited to the account of, such trust.
SECTION XI. BOOKS AND ACCOUNTS

All books and records of the trust department shall be kept separate and distinct from other books and records of the bank. All accounts opened shall be so
kept as to enable the national bank at any time to furnish information or reports
required by the Federal or State authorities, and such books and records shall be
open to the inspection of such authorities.
SECTION XII. EXAMINATIONS

Examiners appointed by the Comptroller of the Currency or designated by the
Federal Reserve Board will be instructed to make thorough and complete examinations of the cash, securities, accounts, and investments of the trust department
of the bank at the same time that examination is made of the banking department, and may make such examinations at any other time.
1
The act requires that the bank shall set aside in the trust department "United States bonds or other
securities approved by the Federal Reserve Board." This provision of the regulations is intended as a
general approval by the Federal Reserve Board of all securities which comply with the requirements
thereof and specific approval by the Federal Reserve Board is unnecessary as to such securities. The
board will not approve any securities which do not comply with these requirements.




REGULATIONS OF THE FEDERAL RESERVE BOARD

249

SECTION XIII. INSOLVENCY OR VOLUNTARY LIQUIDATION OF BANK

(a) Insolvency.—Whenever a national bank exercising fiduciary powers becomes insolvent and a receiver is appointed therefor by the Comptroller of the
Currency, such receiver will, pursuant to the instructions of the Comptroller of
the Currency and to the orders of the court or courts of appropriate jurisdiction,
proceed to close such trusts and estates as can be closed promptly and transfer to
substitute fiduciaries all trusts and estates which can not be closed promptly.
(b) Voluntary liquidation.—Whenever a national bank exercising fiduciary
powers is placed in voluntary liquidation, the liquidating agent shall, in accordance
with the laws of the State in which such national bank is located, proceed at once
to liquidate the affairs of the trust department as follows:
1. All voluntary trusts which can be canceled shall be canceled as soon as
possible and all assets and papers thereof shall be delivered to the rightful
owner or owners.
2. All court trusts and estates under the jurisdiction of a court shall be
closed or disposed of as soon as possible in accordance with the orders or
instructions of the court having jurisdiction.
3. All other trusts which can be closed promptly shall be closed as soon as
possible and final accounting made therefor.
4. All other trusts which can not be closed promptly shall be transferred
by appropriate legal proceedings to substitute trustees or other fiduciaries.
SECTION XIV. SURRENDER OF TRUST POWERS

(a) Procedure.—Any national bank which has been granted the right by the
Federal Reserve Board, pursuant to section 11 (k) of the Federal reserve act, to
act in any fiduciary capacity or capacities and which desires to surrender such
right, shall signify such desire through a resolution adopted by its board of
directors. A properly certified copy of such resolution of its board of directors
should be filed with the Federal Reserve Agent of the district in which such
national bank is located and should be accompanied by (1) a letter stating the
reason why, or the purpose for which, such national bank wishes to surrender its
right to exercise trust powers, unless such reason or purpose shall have been amply
stated in the resolution itself; and (2) the permit or permits previously granted by
the Federal Reserve Board to such national bank granting it the right to act in
any fiduciary capacity, except that in case any such permit shall have been lost
or destroyed an affidavit by any officer of such national bank as to such loss or
destruction may be filed in lieu of such lost or destroyed permit. All such documents filed with the Federal Reserve Agent shall be promptly forwarded by him
to the Federal Reserve Board with a recommendation as to the action to be taken
by the Federal Reserve Board.
(b) Examination.—Upon receipt of such documents, the Federal Reserve Board
will request the Comptroller of the Currency, upon the occasion of the next regular examination of such national bank, to have the examiner make a special investigation of the trust department of the bank in order to determine whether the
bank has actually accepted or undertaken the exercise of any trust, whether under
court, private, or other appointment, pursuant to authority granted under section
11 (k) of the Federal reserve act; and if so, whether it appears from the records of
the trust department in the case of each trust so accepted or undertaken:
(1) That the duties of the bank as fiduciary have been completely performed or that a substitute fiduciary has been appointed in accordance with
the State law;
(2) That a final account has been filed bj7 the bank, and that such account
has been approved by the court or other proper authority where this is required by State law;
(3) That all assets and papers belonging to the trust estate have been
delivered by the bank to the person or persons entitled to receive them; and
(4) That the bank has been discharged or otherwise properly relieved of
its duties as fiduciary.
In exceptional cases, the Federal Reserve Board may make a special examination
or may request the Comptroller of the Currency to make a special examination of
such national bank in order to obtain the information above set forth.
(c) Certificate of Federal Reserve Board.—If upon receiving a copy of the
report of such examination of such national bank the Federal Reserve Board
shall be satisfied that such bank has been relieved in accordance with State law
of all its duties as trustee, executor, administrator, registrar of stocks and bonds,
guardian of estates, assignee, receiver, committee of estates of lunatics, or other



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

fiduciary, under court, private, or other appointments previously accepted by
such bank under a permit granted by the Federal Reserve Board pursuant to the
provisions of section 11 (k) of the Federal reserve act, the board may in its discretion issue to such national bank a certificate certifying that such bank is no
longer authorized to exercise the powers conferred upon it by such permit of the
Federal Reserve Board. Such bank thereupon (1) shall no longer be subject to
the provisions of section 11 (k) of the Federal reserve act or the regulations of the
Federal Reserve Board made pursuant thereto, (2) shall be entitled to have returned to it any securities which it may have deposited with the State authorities
or with the Federal Reserve Agent for the protection of private or court trusts,
and (3) shall not exercise thereafter any of the powers granted by section 11 (k)
of the Federal reserve act without first applying for and obtaining a new permit
from the Federal Reserve Board to exercise such powers.
SECTION XV. CONFORMITY WITH STATE LAWS

Nothing in these regulations shall be construed to give a national bank exercising the powers permitted under the provisions of section 11 (k) of the Federal
reserve act, as amended, any rights or privileges in contravention of the laws of
the State in. which the bank is located within the meaning of that act.
SECTION XVI. CHANGES IN REGULATIONS

These regulations are subject to change by the Federal Reserve Board; provided, howtiver, that no such change shall prejudice any obligation undertaken in
good faith under regulations in effect at the time the obligation was assumed.
REGULATION G, SERIES OF 1928
(Superseding Regulation M of 1926)

KEDISCOUNT OF NOTES SECURED BY ADJUSTED SERVICE
CERTIFICATES
SECTION I. STATUTORY PROVISIONS

Under the terms of the World War adjusted compensation act as amended,
loans may lawfully be made to veterans upon their adjusted service certificates
only in accordance with the provisions of section 502 thereof.
Any national bank, or any bank or trust company incorporated under the Jaws
of any State, Territory, possession, or the District of Columbia is authorized,
after the expiration of two years after the date of the certificate, to loan to any
veteran upon his promissory note secured by his adjusted service certificate any
amount not. in excess of the loan value of the certificate, which is stated on the
face of the certificate. The law provides that the rate of interest charged upon
the loan by the lending bank shall not exceed by more than 2 per cent per annum
the rate charged at the date of the loan for the discount of 90-day commercial
paper by the Federal reserve bank of the Federal reserve district in which the
lending bank is located.
Upon the indorsement of any bank, which shall be deemed a waiver of demand,
notice and protest by such bank as to its own indorsement exclusively, and subject to regulations to be prescribed by the Federal Reserve Board, any such note
secured by an adjusted service certificate and held by a bank is made eligible for
rediscount with the Federal reserve bank of the Federal reserve district in which
such bank is located, whether or not the bank offering the note for rediscount is
a member of the Federal reserve system and whether or not it acquired the note
in the first instance from the veteran or acquired it by transfer upon the indorsement of any other bank; provided that at the time of rediscount such note has a
maturity not in excess of nine months, exclusive of days of grace, and complies
in all other respects with the provisions of the law, the regulations of the United
States Veterans' Bureau, and the regulations of the Federal Reserve Board.
SECTION II.

DEFINITIONS

Within the meaning of this regulation—
(a) The term "the act" shall mean the World War adjusted compensation
act as amended;
(6) The term "director" shall mean the Director of the United States
Veterans' Bureau;



REGULATIONS OF THE FEDERAL RESERVE BOARD

251

(c) The term "certificate" shall mean an adjusted service certificate issued
under the provisions of section 501 of the World War adjusted compensation
act as amended;
(d) The term "veteran" shall mean any person to whom an adjusted
service certificate has been issued by the director under the provisions of the
World War adjusted compensation act as amended;
(e) The term "bank" shall mean any national bank or any bank or trust
company incorporated under the laws of any State, Territory, possession, or
the District of Columbia;
(/) The term "note" shall mean a promissory note, negotiable in form,
secured by an adjusted service certificate, and evidencing a loan made by a
bank on the security of such certificate in full compliance with the provisions
of the World War adjusted compensation act as amended and the regulations
of the United States Veterans' Bureau.
SECTION III.

ELIGIBILITY

In order to be eligible for rediscount at a Federal reserve bank, any such note
must—
(a) Arise out of a loan made by a bank to a veteran in full compliance
with the provisions of the act and of any regulation which the director may
prescribe;
(6) Be secured by the certificate issued to the maker, which certificate
must accompany the note;
(c) Be held by the offering bank in its own right at the time it is offered
for rediscount;
(d) Be negotiable in form and otherwise in the form approved by the
director;
(e) Have a maturity at the time of rediscount not in excess of nine months,
exclusive of days of grace;
(/) Evidence a loan the amount of which does not exceed the loan value
of the certificate for the year in which such loan was made;
(g) Be payable with interest accruing after the date of the note at a rate
stated in the face of the note, which rate must not exceed by more than 2 per
cent per annum the rate charged at the date of the loan for the discount of
90-day commercial paper by the Federal reserve bank of the Federal reserve
district in which the lending bank is located;
(h) Bear the indorsement of the bank offering it for rediscount, which
indorsement shall be deemed a waiver of demand, notice, and protest by such
bank as to its own indorsement exclusively;
(i) Be accompanied by the evidence of eligibility required by this regulation
and such other evidence of eligibility as may be required by the Federal
reserve bank to which it is offered for rediscount; and
(j) Comply in all other respects with the requirements of the law and of
this regulation.
SECTION IV. EVIDENCE OF ELIGIBILITY

(a) General.—The Federal reserve bank to which a note is offered for rediscount
must be satisfied either by reference to the note itself or otherwise that the loan
evidenced by the note, or any sale, discount, or rediscount thereof complies in all
respects with the provisions of section 502 of the act and that the note is eligible
for rediscount by a Federal reserve bank under the terms of the law and the
provisions of this regulation.
(b) Affidavit of lending bank.—Any note offered to a Federal reserve bank for
rediscount must be accompanied by the affidavit required by section 502 (h) of
the act and the regulations of the director, in form approved by the director, made
by an officer of the bank which made the loan, before a notary public or other
officer designated for the purpose by regulation of the director, stating that—
(1) Such bank has not charged or collected, or attempted to charge or
collect, directly or indirectly, any fee or other compensation in respect of any
loan, made by such bank to any veteran under section 502 of the act, except
the interest authorized by such section;
s (2) The person who obtained the loan evidenced by such note is known
to be the veteran named in the certificate securing such note;
(3) Such bank has notified the director that it has made a loan to the
veteran named in the certificate, as required by the regulations of the
director; and



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

(4) Such bank has notified the veteran by mail at his last known postoffice address of any sale, discount, or rediscount of such note by such bank,
as required by section 502 (b) of the act.
(c) Affidavit of other banks.—If such note is offered for rediscount by a bank
other than the bank which made the loan thereon, it must also be accompanied
by an affidavit of an officer of the offering bank and an affidavit of an officer of
each other bank which has sold, discounted, or rediscounted such note, which
affidavit shall be in form approved by the director and shall state that the bank of
which the affiant is an officer has promptly notified the veteran by mail at his
last known post-office address of the sale, discount, or rediscount of such note by
such bank, as required by section 502(b) of the act.
SECTION V. APPLICATION FOR REDISCOUNT

Every application for the rediscount of such notes shall be made on a form
approved by the Federal reserve bank to which such note is offered and shall
contain a certificate of the offering bank to the effect that, to the best of its knowledge and belief, such note arose out of a loan made in full compliance with the
provisions of the act and the regulations of the director and is eligible for rediscount under the provisions of section 502 of the act and of this regulation.
SECTION VI. PROPER BANK FOR REDISCOUNT

No such npte shall be rediscounted by any Federal reserve bank for any bank
not located in its own Federal reserve district, except that such notes may be
rediscounted by any Federal reserve bank for any other Federal reserve bank.
SECTION VII. RATE OF REDISCOUNT

The rate of interest charged by any Federal reserve bank on any such note
rediscounted by it shall be the same as that charged by it for the rediscount of
90-day notes drawn for a commercial purpose, except that when such notes are
rediscounted for another Federal reserve bank the rate shall be that fixed by the
Federal Reserve Board.
SECTION VIII. REDISCOUNTS FOR NONMEMBER BANKS

No Federal reserve bank shall rediscount such notes for any nonmember bank
until such bank has furnished to the Federal reserve bank such information as
it may request in order to satisfy itself as to the condition of such bank and the
advisability of making the rediscount for it.
REGULATION H, SERIES OF 1930
(Superseding Regulation H of 1928)

MEMBERSHIP OF STATE BANKS AND TRUST COMPANIES
SECTION I. BANKS ELIGIBLE FOR MEMBERSHIP

1. Incorporation.—In order to be eligible for membership in a Federal reserve
bank a Si;ate bank or trust company must have been incorporated under a
special or general law of the State or district in which it is located.
2. Capital stock.—Under the terms of section 9 of the Federal reserve act as
amended, no applying bank can be admitted to membership in a Federal reserve
bank unless—
(a) It possesses a paid-up, unimpaired capital sufficient to entitle it to
become a national banking association in the place where it is situated, under
the provisions of the national bank act; or
(b) It possesses a paid-up, unimpaired capital of at least 60 per cent of
such amount, and, under penalty of loss of membership, complies with the
rules £,nd regulations herein prescribed by the Federal Reserve Board fixing
the time within whi'ch, and the method by which, the unimpaired capital of
such bank shall be increased out of net income to equal the capital required
under (a).
In order to become a member of the Federal reserve system, therefore, any
State bank or trust company must have a minimum paid-up capital stock at the
time it becomes a member, as follows:




REGULATIONS OP THE FEDERAL RESERVE BOARD

If located in a city or town with a population-

Not exceeding 3,000 inhabitants
_
_
Exceeding 3,000 but not exceeding 6,000 inhabitants
_
__.
Exceeding 6,000 but not exceeding 50,000 inhabitants
Exceeding 50,000 inhabitants (except as stated below)
__
In an outlying district 1 of a city with a population exceeding 50,000 inhabitants;
provided State law permits organization of State banks in such location with a
capital of $100,000 or less.
___
_.

Minimum
capital if
admitted
under
clause (a)

253
Minimum
capital if
admitted
under
clause (6)

$25,000
50,000
100,000
200, 000

$15, 000
30,000
60,000
120,000

100,000

60, 000

i The term "outlying district" is construed to mean that portion of a city which is located outside of,
and at a considerable distance from, the recognized business and financial center of such city, and includes
all suburban districts within the corporate limits of such city.

Any bank admitted to membership under clause, (b) must also, as a condition
of membership—the violation of which will subject it to expulsion from the
Federal reserve system—increase its paid-up and unimpaired capital within five
years after the approval of its application by the Federal Reserve Board to the
amount required under (a). For the purpose of providing for such increase,
every such bank shall set aside each year in a fund exclusively applicable to such
capital increase not less than 50 per cent of its net earnings for the preceding year
prior to the payment of dividends, and if such net earnings exceed 12 per cent of
the paid-up capital of such bank, then all net earnings in excess of 6 per cent of
the paid-up capital shall be carried to such fund, until such fund is large enough
to provide for the necessary increase in capital. Whenever such fund shall be
large enough to provide for the necessary increase in capital, or at such other
time as the Federal Reserve Board may require, such fund or as much thereof as
may be necessary shall be converted into capital by a stock dividend or used in
any other manner permitted by State law to increase the capital of such bank to
the amount required under (a): Provided, however, That such bank may be
excused in whole or in part from compliance with the terms of this paragraph if
it increases its capital through the sale of additional stock: Provided further, That
nothing herein contained shall be construed as requiring any such bank to violate
any provision of State law, and in any case in which the requirements of this paragraph are inconsistent with the requirements of State law the requirements of this
paragraph may be waived and the subject covered by a special condition of membership to be prescribed by the Federal Reserve Board.
3. Branches.—In order to be eligible for membership in a Federal reserve bank,
a State bank or trust company must relinquish any branch or branches established by it after February 25, 1927, beyond the corporate limits of the city,
town, or village in which the parent bank is situated.
SECTION I I . APPLICATION FOR MEMBERSHIP

Any eligible State bank or trust company may make application on F. R. B.
Form 83a, made a part of this regulation, to the Federal Reserve Board for an
amount of capital stock in the Federal reserve bank of its district equal to 6 per
cent of the paid-up capital stock and surplus of such State bank or trust company. This application must be forwarded direct to the Federal reserve agent
of the district in which the applying bank or trust company is located and must
be accompanied by Exhibits I, II, and III, referred to on page 1 of the application
blank.
SECTION I I I . APPROVAL OP APPLICATION

In passing upon an application the Federal Reserve Board will consider
especially—
(1) The financial condition of the applying bank or trust company and
the general character of its management;
(2) Whether the corporate powers exercised by the applying bank or
trust company are consistent with the purposes of the Federal reserve act;
and
(3) Whether the laws of the State or district in which the applying bank
or trust company is located contain provisions likely to prevent proper
compliance with the provisions of the Federal reserve act and the regulations
of the Federal Reserve Board made in conformity therewith.



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

If, in the judgment of the Federal Reserve Board, an applying bank or trust
company conforms to all the requirements of the Federal reserve act and these
regulations, and is otherwise qualified for membership, the board will approve
the application subject to such conditions as it may prescribe pursuant to the
provisions of the Federal reserve act. When the conditions imposed by the
board^ have been accepted by the applying bank or trust company and the
applying bank or trust company has made a payment to the Federal reserve
bank of its district of one-half of the amount of its subscription, i. e., 3 per cent
of the amount of its paid-up capital and surlpus, the appropriate certificate of
stpck will be issued by the Federal reserve bank and a certificate of membership
will be issued by the Federal Reserve Board. The remaining half of its subscription shall be subject to call when deemed necessary by the Federal Reserve Board.
SECTION IV. CONDITIONS OP MEMBERSHIP

Pursuant to the authority contained in the first paragraph of section 9 of the
Federal ressrve act, which provides that the Federal Reserve Board may permit
applying banks to become members of the Federal reserve system "subject to the
provisions of this act and to such conditions as it may prescribe pursuant thereto/'
the Federal Reserve Board will prescribe the following conditions of membership
for each bank or trust company hereafter applying for admission to the Federal
reserve system, in addition to such other conditions as the board may consider
necessary or advisable in the particular case—
(1) Except with the permission of the Federal Reserve Board, such bank or
trust company shall not cause or permit any change to be made in the general
character of its business or in the scope of the corporate powers exercised by it
at the time of admission to membership.
(2) Such bank or trust company shall at all times conduct its business and
exercise its powers with due regard to the safety of its depositors.
(3) Except after applying for and receiving the permission of the Federal
Reserve Board, such bank or trust company shall not acquire an interest in any
other bank or trust company, through the purchase of stock in such other bank
or trust company.
(4) Such bank or trust company shall maintain its loans within the limitsprescribed by the laws of the State in which it is located.
(5) Such bank or trust company shall reduce to an amount equal to 10 per
cent of its capital and surplus all balances in excess thereof, if any, which are
carried with banks or trust companies which are not members of the Federal
reserve system, and shall at all times maintain such balances within such limits.
(6) Such bank or trust company may accept drafts and bills of exchange
drawn upon it of any character permitted by the laws of the State of its incorporation; but the aggregate amount of all acceptances outstanding at any one time
shall not exceed the limitations imposed by section 13 of the Federal reserve act,
that is, the aggregate amount of acceptances outstanding at any one time which
are drawn for the purpose of furnishing dollar exchange in countries specified by
the Federal Reserve Board shall not exceed 50 per cent of its capital and surplus,
and the aggregate amount of all other acceptances, whether domestic or foreign,
outstanding at any one time shall not exceed 50 per cent of its capital and surplus*
except that the Federal Reserve Board, upon the application of such bank or
trust company, may increase this limit from 50 per cent to 100 per cent of its
capital and surplus: Provided, however, That in no event shall the aggregate
amount of domestic acceptances outstanding at any one time exceed 50 per cent
of the capital and surplus of such bank or trust company.
(7) The board of directors of said bank or trust company shall adopt a resolution authorizing the interchange of reports and information between the Federal
reserve bank of the district in which such bank or trust company is located and
the banking authorities of the State in which such bank is located.
SECTION V. ESTABLISHMENT OR MAINTENANCE OF BRANCHES

Every State bank which is, or hereafter becomes, a member of the Federal
reserve system will be required to comply strictly with the following provision
of section 9 of the Federal reserve act as amended by the act of February 25,
1927:
Any such State bank which, at the date of the approval of this act, has established and is operating a
branch or branches in conformity with the State law, may retain and operate the same while remaining or
upon becoming a stockholder of such Federal reserve bank; but no such State bank may retain or acquire
stock in a Federal reserve bank except upon relinquishment of any branch or branches established after the
date of the approval of this act beyond the limits of the city, town, or village in which the parent bank is
situated.



REGULATIONS OF THE FEDERAL RESERVE BOARD

255

This has been interpreted to mean that—
1. Any State member bank which, on February 25, 1927, had established
and WSLS actually operating a branch or branches in conformity with the State
law is permitted to retain and operate the same while remaining a member of
the Federal reserve system, regardless of the location of such branch or
branches.
2. Any nonmember State bank which, on February 25, 1927, had established and was actually operating a branch or branches in conformity with
State law may, if otherwise eligible, become a member of the Federal reserve
system and retain and operate such branches, regardless of their location.
3. In order to remain a member of the Federal reserve system, every State
member bank must relinquish any branch or branches established after
February 25, 1927, beyond the corporate limits of the city, town, or village
in which the parent bank is situated.
4. Any State member bank which establishes any branch or branches after
February 25, 1927, beyond the corporate limits of the city, town, or village
in which the parent bank is situated must either (a) relinquish such branch or
branches or (6) forfeit all rights and privileges of membership and surrender
its stock in the Federal reserve bank.
5. No State bank which has established any branches subsequent to
February 25, 1927, beyond the corporate limits of the city, town, or village
in which the parent bank is situated may become a member of the Federal
reserve system except upon relinquishment of every such branch.
6. State member banks may establish branches within the corporate
limits of the city, town, or village in which the parent bank is situated without
obtaining permission of the Federal Reserve Board.
SECTION VI. POWERS AND RESTRICTIONS

Every State bank or trust company while a member of the Federal reserve
system—
(1) Shall retain its full charter and statutory rights as a State bank or
trust company, subject to the provisions of the Federal reserve act, to the
regulations of the Federal Reserve Board, and to the conditions prescribed
by the Federal Reserve Board and agreed to by such State bank or trust
company prior to its admission;
(2) Shall enjoy all the privileges and observe all those requirements of the
Federal reserve act and of the regulations of the Federal Reserve Board made
in conformity therewith which are applicable to State banks and trust companies which have become member banks; and
(3) Shall comply at all times with any and all conditions of membership
prescribed by the Federal Reserve Board at the time of the admission of such
member bank to the Federal reserve system.
SECTION VII. EXAMINATIONS AND REPORTS

Every State bank or trust company, while a member of the Federal reserve
system, shall be subject to examinations made by direction of the Federal Reserve
Board or of the Federal reserve bank by examiners selected or approved by the
Federal Reserve Board.
In order to avoid duplication, examinations of State banks and trust companies
made by State authorities will be accepted in lieu of examinations by examiners
selected or approved by the board wherever these are satisfactory to the directors
of the Federal reserve bank, and examiners from the staff of the board or of the
Federal reserve banks will, whenever desirable, be designated by the board to act
with the examination staff of the State in order that uniformity in the standard of
examination may be assured.
Every State bank or trust company, while a member of the Federal reserve
system, shall be required to make in each year not less than three reports of condition on F. R. B. Form 105. Such reports shall be made to the Federal reserve
bank of its district on call of such bank, on dates to be fixed by the Federal Reserve
Board. They shall also make semiannual reports of earnings and dividends on
F. R. B. Form 107. F. R. B. Forms 105 and 107 are made a part of this regulation.
SECTION VIII. VOLUNTARY WITHDRAWAL FROM FEDERAL RESERVE SYSTEM

1. General.—Any State bank or trust company desiring to withdraw from
membership in a Federal reserve bank may do so after six months' written notice
lias been filed with the Federal Reserve Board; and the Federal Reserve Board, in




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

its discretion and subject to such conditions as it may prescribe, may waive such
six months' notice in individual cases and may permit such bank or trust company
to withdraw from membership in a Federal reserve bank prior to the expiration of
six months from the date of the written notice of its intention to withdraw.
The law provides, however, that no Federal reserve bank shall, except upon
express authority of the Federal Reserve Board, cancel within the same calendar
year more than 25 per cent of its capital stock for the purpose of effecting voluntary withdrawals during that year. All applications for voluntary withdrawals
are required by law to be dealt with in the order in which they are filed with the
board.
2. Resolution of board of directors.—Every notice of intention of a State bank
or trust company to withdraw from membership in the Federal reserve system
and every application for the waiver of such notice should be accompanied by a
certified copy of a resolution duly adopted by the board of directors of such bank
authorizing the withdrawal of such bank from membership in the Federal reserve
system and authorizing a certain officer or certain officers of such bank to file such
notice or application, to surrender for cancellation the Federal reserve bank stock
held by such bank, to receive and receipt for any moneys or other property due
to such bank from the Federal reserve bank and to do such other things as may
be necessary to effect the withdrawal of such bank from membership in the
Federal reserve system.
3. Notice of intention to withdraw.—Any State bank or trust company desiring
to withdraw from membership in a Federal reserve bank after six months' written
notice should signify its intention to do so in a letter addressed to the Federal
Reserve Board and mailed to the Federal reserve agent at the Federal reserve
bank of which such State bank or trust company is a member. Such letter should
state clearly the reason for the bank's desire to withdraw from membership, and
should inclose a certified copy of the resolution of the board of directors of such
bank required by subsection 2 hereof. The Federal reserve agent shall immediately forward such notice to the Federal Reserve Board; and the bank giving
notice will be permitted to withdraw from membership by surrendering its stock
in the Federal reserve bank for cancellation six months after the date on which
such notice was received by the Federal reserve agent, unless other such notices
previously received during the same year would result in the cancellation of more
than 25 per cent of the capital stock of such Federal reserve bank during that
calendar year.
4. Application for waiver of notice.—Any State bank or trust company desiring
to withdraw from membership in a Federal reserve bank without awaiting the
expiration of six months from the date of its written notice of intention to do so
shall address a letter to the Federal Reserve Board applying for permission to
withdraw from membership prior to the expiration of six months and requesting
the Federal Reserve Board to waive the six months' notice usually required.
Such letter shall be accompanied by the certified copy of a resolution of the board
of directors of such bank required by subsection 2 hereof, and shall be forwarded
to the Federal reserve agent at the Federal reserve bank of which the applying
bank is a member. The Federal reserve agent shall forward such application to
the Federal Reserve Board with a definite recommendation that the application
be approved or disapproved and with a full statement of his reasons for such
recommendation. Unless there are exceptional circumstances justifying it, the
Federal Reserve Board will not be disposed to waive such notice; and no such
application will be approved by the Federal Reserve Board if the banks owning
more than 10 per cent of the capital stock of such Federal reserve bank have
previously filed notice of their intention to withdraw from membership during
the same calendar year.
5. Time and method of effecting actual withdrawal.—A bank's withdrawal
from membership in the Federal reserve system is effective on the date on which
the Federal reserve bank stock held by it is duly canceled. Until such stock has
been eancelad, such bank remains a member of the Federal reserve system, is
entitled to all the privileges of membership, and is required to comply with all
provisions of law and all regulations of the Federal Reserve Board pertaining to
member banks and with all conditions of membership applicable to it. Upon the
cancellation of such stock all rights and privileges of such State bank or trust
company as a member bank cease and determine.
Upon the expiration of six months after notice of intention to withdraw from
membership was received by the Federal reserve agent, or upon the waiving of
such six months' notice by the Federal Reserve Board, therefore, such bank or
trust company should surrender its stock and its certificate of membership to the



KEGULATIONS OF THE FEDERAL RESERVE BOARD

257

Federal reserve bank and request that same be canceled and that all amounts
due to it from the Federal reserve bank be refunded. Unless this is done within
two months after the expiration of such six months' notice or after the waiver of
such notice by the Federal Reserve Board, or unless the bank requests and the
board grants, an extension of time before the expiration of such two months, such
bank will be presumed to have abandoned its intention of withdrawing from
membership and will not be permitted to withdraw without again giving six
months' written notice or obtaining the waiver of such notice.
Upon the cancellation of such stock and, after due provision has been made for
any indebtedness due or to become due to the Federal reserve bank, such bank
shall be entitled to a refund of its cash paid subscription with interest at the rate
of one-half of 1 per cent per month from the date of last dividend, if earned, the
amount refunded in no event to exceed the book value of the stock at that time,
and shall likewise be entitled to the repayment of deposits and of any other
balance due from the Federal reserve bank.
6. Withdrawal of notice.—Any bank or trust company which has given notice
of its intention to withdraw from membership in a Federal reserve bank may
withdraw such notice at any time before its stock has been canceled and upon
doing so may remain a member of the Federal reserve system.
REGULATION I, SERIES OF 1930
(Superseding Regulation I of 1928)

INCREASE OR DECREASE OF CAPITAL STOCK OF FEDERAL RESERVE
BANKS AND CANCELLATION OF OLD AND ISSUE OF N E W STOCK
CERTIFICATES
SECTION I. INCREASE OF CAPITAL STOCK

(a) New national banks.—Each new national bank, while in process of organization (including each nonmember State bank converting into a national
bank,1 while in process of such conversion) shall file with the Federal reserve
bank of its district an application to the Federal Reserve Board on F. R. B.
Form 30 (or as to a nonmember State bank converting into a national bank, on
F. R. B. Form 30a), made a part of this regulation, for an amount of capital
stock of the Federal reserve bank of its district equal to 6 per cent of the paid-up
capital stock and surplus of such new national bank. Such application shall be
forwarded promptly to the Federal Reserve Board, and if it is found to be in
proper form the Federal Reserve Board will grant its approval effective if and
when the Comptroller of the Currency issues to such bank his certificate of
authority to commence business. If its application is approved, the applying
bank shall thereupon make a payment to the Federal reserve bank of its district
of one-half of the amount of its subscription, i. e., 3 per cent of the amouxit of
its paid-up capital and surplus; and upon receipt of this payment the Federal
reserve bank will issue a receipt therefor, place the amount in a suspense account,
and notify the Federal Reserve Board that it has been received. When the
Comptroller of the Currency issues to such applying bank his certificate of
authority to commence business the Federal reserve bank shall issue a stock
certificate to the applying bank, and the capital stock of the Federal reserve
bank represented by such certificate shall be considered as issued as of the date
upon which the Comptroller of the Currency issues his certificate of authority to
commence business. The remaining half of the subscription of the applying
bank shall be subject to call when deemed necessary by the Federal Reserve
Board.
(b) State banks becoming members.—Any State bank or trust company
desiring to become a member of the Federal reserve system shall make application
as provided in Regulation H, and when such application has been approved by
i Whenever any State member bank is converted into a national bank under sec. 5154 of the Revised
Statutes, as amended by sec. 8 of the Federal reserve act, it may continue to hold as a national bank its
shares of Federal reserve bank stock previously held as a State bank, and need not file any application
for Federal reserve bank stock, unless the aggregate amount of its capital and surplus is increased, in which
event it should file an application for additional stock, as provided in Section I (c). The certificate of
stock issued in the old name of the member bank, however, should be surrendered and canceled, and a
new certificate should be issued in lieu thereof, in the new name of the member bank, as provided in Section III.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

the Federal Reserve Board and all requirements of Regulation H have been
complied with the Federal reserve bank shall issue an appropriate certificate of
stock as provided in Regulation H.
(c) Increase of capital or surplus by member banks.—Whenever any member
bank shall increase the aggregate amount of its paid-up capital stock and surplus,
it shall file with the Federal reserve bank of which it is a member an application
on F. R. B. Form 56, made a part of this regulation, for such additional amount
of the capital stock of the Federal reserve bank of its district as may be necessary
to make its total subscription to stock of the Federal reserve bank equal to 6
per cent of its combined capital and surplus. After such application has been
approved by the Federal reserve agent and by the Federal Reserve Board, the
applying member bank shall pay to the Federal reserve bank of its district onehalf of the amount of its additional subscription, and when this amount has been
paid the appropriate certificate of stock shall be issued h>y the Federal reserve
bank. The remaining half of such additional subscription shall be subject to
call when deemed necessary by the Federal Reserve Board.
(d) Consolidation of member banks.—Whenever two or more member banks
consolidate and such consolidation results in the consolidated bank acquiring by
operation of law 2 the Federal reserve bank stock owned by the other consolidating bank or banks, and which also results in the consolidated bank having an
aggregate capital and surplus in excess of the aggregate capital and surplus of
the consolidating member banks, such consolidated bank shall file an application
for such additional amount of the capital stock of the Federal reserve bank of
its district as may be necessary to make its total subscription to the stock of the
Federal reserve bank equal to 6 per cent of its combined capital and surplus, as
provided in Section I (c).
(e) Certifying increases of Federal reserve bank stock.—Whenever the
capital stock of any Federal reserve bank shall be increased the board of directors
of such Federal reserve bank shall certify such increase to the Comptroller of
the Currer.cy on F. R. B. Form 58, which is made a part of this regulation.
Such certifications shall be made as of the last days of June and December of
each year. A duplicate copy of each certificate shall be forwarded to the Federal Reserve Board.
SECTION II. DECREASE OF CAPITAL STOCK

(a) Reduction of capital or surplus by member bank.—Whenever a member
bank reduces the amount of its paid-up capital stock and, in the case of reduction of the paid-up capital of a national bank, such reduction has been approved
by the Comptroller of the Currency and by the Federal Reserve Board in accordance with the provisions, of section 28 of the Federal reserve apt, it shall file
with the Federal reserve bank of which it is a member an application for the
surrender and cancellation of stock on F. R. B. Form 60, which is made a part
of this regulation. When a member bank reduces the amount of its surplus,
it is not required to, but may at its option, file with the Federal reserve bank of
which it is a member an application for the surrender and cancellation of stock
on said F. R. B. Form 60. W n e n a n application so filed as the result of a reduction in a member bank's paid-up capital stock or surplus has been approved
by the Federal reserve agent and the Federal Reserve Board, the Federal reserve
bank shall accept and cancel the stock which the applying bank is entitled to
surrender and shall refund to the member bank the proportionate amount due
such bank on account of the stock canceled.
(b) Insolvency of member bank.—Whenever a member bank shall be
declared insolvent and a receiver appointed by the proper authorities, such
2
Sec. 5 of the Federal reserve act provides that "Shares of the capital stock of Federal reserve banks
owned by member banks shall not be transferred or hypothecated." This provision prevents a transfer
of Federal reserve bank stock by purchase, but does not prevent a transfer by operation of law. When
there is a merger of member banks involving the liquidation of one of such banks and the purchasing of
the assets of the liquidating bank by the bank continuing in existence, it is necessary for the liquidating
bank to surrender its Federal reserve bank stock and for the purchasing bank to apply for new stock. On
the other hand, if member banks consolidate, under a statute which does not require the liquidation of
any of the cor solidating banks, and the assets and obligations of the consolidating banks are transferred
to the consolidated bank by operation of law, the consolidated bank becomes the owner of the Federal
reserve bank ;jtock of the consolidating banks as soon as the consolidation takes effect and such stock
technically need not be surrendered. The certificates of stock issued in the names of the consolidating
banks, however, should be surrendered and canceled, and a new certificate should be issued in lieu thereof,
in the new name of the consolidated bank, as provided in Sec. III. A consolidation of national banks
under the act of Congress entitled "An act to provide for the consolidation of national banking associations," approved Nov. 7, 1918, meets all of these conditions.




[REGULATIONS OF THE FEDERAL RESERVE BOARD

259

receiver shall, within six months from the date of his appointment, file with the
Federal reserve bank of which the insolvent bank is a member an application
on F. R. B. Form 87, which is made a part of this regulation, for the surrender
and cancellation of the stock held by such insolvent member bank, and for the
refund of all balances due to it. If the receiver shall fail to make such application within the time specified, the Federal reserve agent shall report the facts
to the Federal Reserve Board with a recommendation as to the action to be
taken, whereupon the Federal Reserve Board will either issue an prder to cancel
such stock or, if the circumstances warrant it, grant the receiver additional
time in which to file such an application. Upon approval of such an application by the Federal reserve agent and the Federal Reserve Board, or upon the
issuance of such an order by the Federal Reserve Board, the Federal reserve
bank shall cancel such stock and shall adjust accounts between the member
bank and the Federal reserve bank by applying to any indebtedness of the
insolvent member bank to such Federal reserve bank all cash-paid subscriptions
made by it on the stock canceled with one-half of 1 per cent per month from the
period of last dividend, not to exceed the book value thereof, and the balance,
if any, shall be paid to the duly authorized receiver of such insolvent member
bank.
(c) Voluntary liquidation of member bank.—Whenever a member bank goes
into voluntary liquidation, the liquidating agent or some other person duly
authorized by the stockholders or board of directors to act on behalf of such
bank shall, within six months from the date of the vote to place such bank in
voluntary liquidation, file with the Federal reserve bank of which the liquidating
bank is a member an application on F. R. B. Form 86, if a national
bank, and on F. R. B. Form 143, if a State bank, which forms are made a part
of this regulation, for the surrender and cancellation of the stock held by it
and for the refund of all balances due to such liquidating member bank. If
such application is not filed within the time specified, the Federal reserve agent
shall report the facts to the Federal Reserve Board with a recommendation as
to the action to be taken, whereupon the Federal Reserve Board will either issue
an order to cancel such stock, or, if the circumstances warrant it, grant additional time in which to file such an application. Upon approval of such an
application by the Federal reserve agent and the Federal Reserve Board, or
upon the issuance of such an order by the Federal Reserve Board, the Federal
reserve bank shall cancel such stock and shall adjust accounts between the
liquidating member bank and the Federal reserve bank by applying to the
indebtedness of the liquidating member bank to such Federal reserve bank all
cash-paid subscriptions made by it on the stock canceled with one-half of 1
per cent per month from the period of last dividend, not to exceed the book
value thereof, and the balance, if any, shall be paid to the duly authorized
liquidating agent of such liquidating member bank.
(d) Other closed member banks.—Whenever a national bank which has not
gone into liquidation as provided in section 5220 of the Revised Statutes of the
United States and for which a receiver has not been appointed for other lawful
cause shall discontinue its banking operations for a period of 60 days, the Federal
reserve agent of the Federal reserve district in which such national bank is
located shall furnish the Federal Reserve Board with full information with
reference to the facts involved in the case and with a definite recommendation
as to whether the Comptroller of the Currency should appoint a receiver for the
national bank. Upon receipt of this advice the Federal Reserve Board will, if
the circumstances warrant it, request the Comptroller of the Currency to appoint
a receiver for the national bank. If such receiver is appointed, the Federal
reserve bank stock held by the national bank should be surrendered and canceled
in the manner described in subdivision (6) of this section.
Whenever a State member bank shall cease to exercise banking functions without being placed in liquidation in accordance with the laws of the State in which
it is located and without a receiver having been appointed for it, the Federal
reserve agent of the Federal reserve district in which such State member bank is
located shall furnish the Federal Reserve Board with full information with
reference to the facts involved in the case and with a definite recommendation
as to whether the Federal Reserve Board should require the State member bank to
surrender its stock in the Federal reserve bank and to forfeit all rights and privileges of membership in the Federal reserve system. Upon receipt of this advice
the Federal Reserve Board will, if termination of the membership of the State
member bank appears desirable, give the member bank notice of the date upon
which a hearing will be held to determine whether its membership should be
forfeited. If, after such hearing, the membership of a State member bank is



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

forfeited the board will direct the Federal reserve agent of the Federal reserve
district in which the member bank is located to cancel the Federal reserve bank
stock it holds and make appropriate refund thereon.
(e) Consolidation of member banks.—Whenever there is a consolidation of
two or more member banks which results in the consolidated bank acquiring by
operation of law (see note 2 on p. 258) the Federal reserve bank stock owned by
the other consolidating banks, and which also results in the consolidated bank
having a paid-up capital less than the aggregate paid-up capital of the consolidating member banks, the consolidated bank shall file with the Federal reserve
bank of which it is a member an application for the surrender and cancellation
of stock on F. R. B. Form 60a, which is made a part of this regulation. Upon the
approval of this application by the Federal reserve agent and the Federal Reserve
Board, the Federal reserve bank shall accept and cancel the stock which the
applying bank is entitled to surrender, and shall refund to the applying bank the
proportionate amount due such bank on account of the stock canceled.
(/) Certifying reductions of Federal reserve bank stock.—All reductions of the
capital stock of a Federal reserve bank shall, in accordance with the provisions of
section 6 cf the Federal reserve act, be certified to the Comptroller of the Currency
by the board of directors of such Federal reserve bank on F. R. B. Form 59, which
is made a part of this regulation. Such certifications shall be made as of the last
days of June and December of each year. A duplicate copy of each certificate
shall be fcrwarded to the Federal Reserve Board.
SECTION III. CANCELLATION OF OLD AND ISSUE OF NEW STOCK CERTIFICATES

Whenever a member bank changes its name or, by consolidation with another
member bank, acquires by operation of law (see note 2 on p. 258) the Federal reserve
bank stock previously held by such other member bank, it shall surrender to the
Federal reserve bank the certificate of Federal reserve bank stock which was
issued to it under its old name, or which was issued to such other member bank.
The certif cate so surrendered shall be indorsed by the member bank surrendering
it or by the member bank to which it was originally issued and shall be accompanied by proper proof of the change of name or consolidation. Upon receipt of
such certiiicate of stock so indorsed, together with such proof, the Federal reserve
bank shall cancel the certificate so surrendered and shall issue in Jieu thereof to
and in th3 name of the member bank surrendering it a new certificate for the
number oir shares represented by the certificate so surrendered, or if the member
bank is entitled to surrender some of the stock which is represented bv the
surrendered certificate, and an application for the surrender and cancellation of
such stock is at the same time made in accordance with this regulation, the new
certificate shall be for the number of shares represented by the surrendered
certificate less the number of shares canceled pursuant to such application. All
cases where certificates of stock are surrendered and new certificates issued in
lieu thereof and in a different name shall be reported to the Federal Reserve
Board by the Federal reserve agent.
REGULATION J, SERIES OF 1930
(Superseding Regulation J of 1929)

CHECK CLEARING AND COLLECTION
SECTION I.

STATUTORY PROVISIONS

Section 16 of the Federal reserve act authorizes the Federal Reserve Board to
require each Federal reserve bank to exercise the function of a clearing house foi
its member banks, and section 13 of the Federal reserve act, as amended by the
act approved June 21, 1917, authorizes each Federal reserve bank to receive from
any nonmember bank or trust company, solely for the purposes of exchange or
of collection, deposits of current funds in lawful money, national-bank notes,
Federal reserve notes, checks and drafts payable upon presentation, or maturing
notes and bills, provided such nonmember bank or trust company maintains with
its Federal reserve bank a balance sufficient to offset the items in transit held for
its account by the Federal reserve bank.




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261

SECTION II. GENERAL REQUIREMENTS

In pursuance of the authority vested in it under these provisions of law, the
Federal Reserve Board, desiring to afford both to the public and to the various
banks of the country a direct, expeditious, and economical system of check
collection and settlement of balances, has arranged to have each Federal reserve
bank exercise the functions of a clearing house and collect checks for such of its
member banks as desire to avail themselves of its privileges and for such nonmember State banks and trust companies as may maintain with the Federal
reserve bank balances sufficient to qualify them under the provisions of section
13 to send items to Federal reserve banks for purposes of exchange or of collection. Such nonmember State banks and trust companies will hereinafter be
referred to as nonmember clearing banks.
Each Federal reserve bank shall exercise the functions of a clearing house and
collect checks under the general terms and conditions hereinafter set forth, and
each member bank and nonmember clearing bank shall cooperate fully in the
system of check clearance and collection for which provision is herein made.
SECTION I I I . CHECKS RECEIVED FOR COLLECTION

(1) Each Federal reserve bank will receive at par from its member banks and
from nonmember clearing banks in its district, checks 1 drawn on all member
and nonmember clearing banks, and checks drawn on all other nonmember
banks which are collectible at par in funds acceptable to the collecting Federal
reserve bank.
(2) Each Federal reserve bank will receive at par from other Federal reserve
banks, and from all member and nonmember clearing banks in other Federal
reserve districts which are authorized to route direct for the credit of their
respective Federal reserve banks, checks drawn on all member and nonmember
clearing banks of its district, and checks drawn on all other nonmember banks of
its district which are collectible at par in funds acceptable to the collecting Federal
reserve bank.
(3) No Federal reserve bank shall receive on deposit or for collection any check
drawn on any nonmember bank which can not be collected at par in funds acceptable to the collecting Federal reserve bank.
SECTION IV. TIME SCHEDULE AND AVAILABILITY IF CREDITS

(1) Each Federal reserve bank will publish a time schedule showing the time
at whichjany item sent to it will be counted as reserve and become available for
withdrawal or other use by the sending bank. For all checks received, the sending bank will be given immediate credit, or deferred credit, in accordance with
such time schedule, and as provided below.
(2) For all such checks as are received for immediate credit in accordance with
such time schedule, immediate credit, subject to final payment, will be given upon
the books of the Federal reserve bank at full face value in the reserve account or
clearing account upon day of receipt, and the proceeds will at once be counted
as reserve and become available for withdrawal or other use by the sending bank,
provided, however, that the Federal reserve bank may in its discretion refuse at
any time to permit the withdrawal or other use of credit given for any item for
which the Federal reserve bank has not yet received payment in actually and
finally collected funds.
(3) For all such checks as are received for deferred credit in accordance with
such time schedule, deferred credit, subject to final payment, will be entered upon
the books of the Federal reserve bank at full face value, but the proceeds will not
be counted as reserve nor become available for withdrawal or other use by the
sending bank until such time as may be specified in such time schedule,2 at which
time credit will be transferred from the deferred account to the reserve account
or clearing account subject to final payment and will then be counted as reserve
and become available for withdrawal or other use by the sending bank, provided,
1 A check is generally defined as a draft or order upon a bank or banking house, purporting to be drawn
upon a deposit of funds, for the payment at all events of a certain sum of money to the order of a certain
person therein named, or to him or his order, or to bearer, and payable on demand.
2 For rules for computation of reserves and penalties for deficiencies in reserves, see Regulation D, Sees.
I l l and IV.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

however, that the Federal reserve bank may in its discretion refuse at any time
to permit the withdrawal or other use of credit given for any item for which
the Federal reserve bank has not yet received payment in actually and finally
collected funds.
SECTION V. TERMS OF COLLECTION

The Federal Reserve Board hereby authorizes the Federal reserve banks to
handle such checks subject to the following terms and conditions; and each
member and nonmember clearing bank which sends checks to any Federal reserve
bank for deposit or collection shall by such action be deemed (a) to authorize
the Federal reserve banks to handle such checks subject to the following terms
and conditions, (b) to warrant its own authority to give the Federal reserve banks
such authority, and (c) to agree to indemnify any Federal reserve bank for any
loss resulting from the failure of such sending bank to have such authority.
(1) A Federal reserve bank will act only as agent of the bank from which it
receives such checks and will assume no liability except for its own negligence
and its guaranty of prior indorsements.
(2) A Federal reserve bank may present suph checks for payment or send such
checks for collection direct to the bank on which they are drawn or at which they
are payable, or in its discretion may forward them to another agent with authority
to present them for payment or send them for collection direct to the bank on
which they are drawn or at which they are payable.
(3) A Federal reserve bank may, in its discretion and at its option, either
directly or through or from an agent, accept in payment of or in remittance for
such checks, cash, bank drafts, transfers of funds or bank credits, or other forms
of payment or remittance, acceptable to the collecting Federal reserve bank.
The Federal reserve bank shall not be liable for the failure of the drawee bank
or any agent to pay or remit for such checks, nor for any lpss resulting from the
acceptance from the drawee bank or any collecting agent, in lieu of cash, of any
other form of payment or remittance authorized herein, nor for the nonpayment
of, or failure to realize upon, any bank draft or other medium of payment or
remittance which may be accepted from the drawee bank or any collecting agent.
(4) Checks received by a Federal reserve bank which are payable in its own
district will ordinarily be forwarded or presented direct to the banks on which
they are drs.wn, and such banks will be required to remit or pay therefor at par
in such one or more of the forms of payment or remittance authorized under
paragraph (3) hereof as may be acceptable to the Federal reserve bank.
(5) Checks received by a Federal reserve bank payable in other districts will
ordinarily be forwarded for collection to the Federal reserve bank of the district
in which such checks are payable; provided, however, that, where arrangements
can be made satisfactory to the collecting bank or agent and to the Federal
reserve bank of the district in which such checks are payable, any such checks
may be forwarded for collection direct to the bank on which they are drawn or at
which they are payable, or may be forwarded for collection to another agent with
authority to present them for payment direct to the bank on which they are
drawn or at which they are payable. All such checks shall be handled subject
to all the terms and conditions of this regulation.
(6) Bank drafts received by a Federal reserve bank in payment of or in remittance for checks handled under the terms of this regulation shall likewise be
handled for collection subject to all the terms and conditions of this regulation.
(7) The amount of any check for which payment in actually and finally collected funds is not received shall be charged back to the forwarding bank, regardless of whether or not the check itself can be returned. In such event, neither
the owner or holder of any such check, nor the bank which sent such check to
the Federal reserve bank for collection shall have any right of recourse upon,
interest in, or right of payment from, any reserve balance, clearing account,
deposit account, or other such fund of the drawee bank or of any bank to which
such checks have been sent for collection, in the possession of the Federal reserve
bank. No draft, authorization to charge, or other order, upon any reserve
balance, clearing account, deposit account, or other such funds of a paying,
remitting, or collecting bank in the possession of a Federal reserve bank, issued
for the purpose of settling items handled under the terms of this regulation will
be paid, acted upon, or honored after receipt by such Federal reserve bank of
notice of suspension or closing of such paying, remitting, or collecting bank.




REGULATIONS OF THE FEDERAL RESERVE BOARD

263

SECTION VI. OTHER RULES AND REGULATIONS

Each Federal reserve bank shall also promulgate rules and regulations not inconsistent with the terms of the law or of this regulation, governing the details
of its check clearing and collection operations. Such rules and regulations shall
be set forth by the Federal reserve banks in their letters of instruction to their
member and nonmember clearing banks and shall be binding upon any member
or nonmember clearing bank which sends any check to such Federal reserve
bank for collection or to any other Federal reserve bank for the account of such
Federal reserve bank for collection.
REGULATION K, SERIES OF 1930
(Superseding Regulation K of 1928)

BANKING CORPORATIONS AUTHORIZED TO DO FOREIGN BANKING
BUSINESS UNDER THE TERMS OF SECTION 25 (a) OF THE FEDERAL RESERVE ACT
SECTION I. ORGANIZATION

Any number of natural persons, not less in any case than five, may form a
Corporation * under the provisions of section 25 (a) for the purpose of engaging
in international or foreign banking or other international or foreign financial
operations or in banking or other financial operations in a dependency or insular
possession of the United States either directly or through the agency, ownership,
or control of local institutions in foreign countries or in such dependencies or
insular possessions.
SECTION I I . ARTICLES OF ASSOCIATION

Any persons desiring to organize a corporation for any of the purposes defined
in section 25 (a) shall enter into articles of association (see F. R. B. Form 151,
which is suggested as a satisfactory form of articles of association) which shall
specify in general terms the objects for which the Corporation is formed, and may
contain any other provisions not inconsistent with law which the Corporation
may see fit to adopt for the regulation of its business and the conduct of its affairs.
The articles of association shall be signed by each person intending to participate
in the organization of the Corporation and when signed shall be forwarded to the
Federal Reserve Board in whose office they shall be filed.
SECTION III. ORGANIZATION CERTIFICATE

All of the persons signing the articles of association shall under their handsmake an organization certificate on F. R. B. Form 152, which is made a part of
this regulation, and which shall state specifically:
First. The name assumed by the Corporation.
Second. The place or places where its operations are to be carried on.
Third. The place in the United States where its home office is to be located.
Fourth. The amount of its capital stock and the number of shares into which
it shall be divided.
Fifth. The names and places of business or residences of persons executing the
organization certificate and the number of shares to which each has subscribed.
Sixth. The fact that the certificate is made to enable the persons subscribing
the same and all other persons, firms, companies, and corporations who or which
may thereafter subscribe to or purchase shares of the capital stock of such Corporation to avail themselves of the advantages of this section.
The persons signing the organization certificate shall acknowledge the execution
thereof before a judge of some court of record or notary public who shall certify
thereto under the seal of such court or notary. Thereafter the certificate shall
be forwarded to the Federal Reserve Board to be filed in its office.
SECTION IV. TITLE

Inasmuch as the name of the Corporation is subject to the approval of the
Federal Reserve Board, a preliminary application for that approval should be
filed with the Federal Reserve Board on F. R. B. Form 150, which is made a part
1
Whenever these regulations refer to a corporation spelled with a capital^C, they relate to a corporation
organized under section 25 (a) of the Federal reserve act.

33454—31




18

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ANNUAL BEPORT OF THE FEDERAL RESERVE BOARD

of this regulation. This application should state merely that the organization
of a Corporation under the proposed name is contemplated and may request the
approval of that name and its reservation for a period of 30 days.
So far as possible the title of the Corporation should indicate the nature or
reason of the business contemplated and should in no case resemble the name of
any other corporation to the extent that it might result in misleading or deceiving
the public as to its identity, purpose, connections, or affiliations.
The title of every such Corporation shall include the word "foreign" or the
word "international/' and no such Corporation will be permitted to have the word
"bank" as part of its title: Provided, however, That with the permission of the
Federal Reserve Board, which may be granted or withheld in the board's discretion, any corporation which is closely affiliated with one or more banks and which
is organized or operated for the purpose of transacting the foreign banking buisness
of such bank or banks may include the work "bank" in its corporate title and need
not include the word "foreign" or the word "international."
SECTION V. AUTHORITY TO COMMENCE BUSINESS

After the articles of association and organization certificate have been made
and filed with the Federal Reserve Board, and after they have been approved
by the Federal Reserve Board and a preliminary permit to begin business has
been issued by the Federal Reserve Board, the association shall become and be a
body corporate, but none of its powers except such as are incidental and preliminary to its organization shall be exercised until it has been formally authorized
by the Federal Reserve Board by a final permit generally to commence business.
Before the Federal Reserve Board will issue its final permit to commence
business, the president or cashier, together with at least three of the directors,
must certify (a) that each director elected is a citizen of the United States; (b)
that a majority of the shares of stock is owned by citizens of the United States, by
corporation!? the controlling interest in which is owned by citizens of the United
States, chartered under the laws of the United States, or by firms or companies
the controlling interest in which is owned by citizens of the United States; and
(c) that of i;he authorized capital stock specified in the articles of association at
least 25 per cent has been paid in in cash and that each shareholder has individually paid in in cash at least 25 per cent of his stock subscription. Thereafter
the cashier £;hall certify to the payment of the remaining installments as and when
each is paid in, in accordance with law.
SECTION VI. CAPITAL STOCK

No Corporation may be organized under the terms of section 25(a) with a
capital stock of less than $2,000,000. The par value of each share of stock shall
be specified in the articles of association, and no Corporation will be permitted
to issue stock of no par value. If there is more than one class of stock, the name
and amount of each class and the obligations, rights, and privileges attaching
thereto shall be set forth fully in the articles of association. Each class of stock
shall be so named as to indicate to the investor as nearly as possible what is its
character and to put him on notice of any unusual attributes.
SECTION VII. TRANSFERS OF STOCK

Section 2,5 (a) provides in part that—
A majority oi the shares of the capital stock of any such corporation shall at all times be held and owned
by the citizens af the United States, by corporations the controlling interest in which is owned by citizens
of the United States, chartered under the laws of the United States or of a State of the United States, or by
firms or companies the controlling interest in which is owned by citizens of the United States.

In order to insure compliance at all times with the requirements of this provision after the organization of the Corporation, shares of stock shall be issuable
and transferable only on the books of the Corporation. Every application for
the issue or transfer of stock shall be accompanied by an affidavit of the party
to whom it is desired to issue or transfer stock, or by his or its duly authorized
agent, statmg—
In the ca.se of an individual.—(a) Whether he is or is not a citizen of the
United States and, if a citizen of the United States, whether he is a natural-born
citizen or a citizen by naturalization, and if naturalized, whether he remains for
any purpose in the allegiance of any foreign sovereign or State; (b) whether there
is or is not any arrangement under which he is to hold the shares or any of the
shares which he desires to have isssued or transferred to him, in trust for or in



KEGULATIONS OF THE FEDERAL RESERVE BOARD

265

any way under the control of any foreign State or any foreigner, foreign corporation, or any corporation under foreign control; and if so, the nature thereof.
In the case of a corporation.—(a) Whether such corporation is or is not
•chartered under the laws of the United States or of a State of the United States.
If it is not, no further declaration is necessary, but if it is, it must also be stated
(b) whether the controlling interest in such corporation is or is not owned by
citizens of the United States, and (c) whether there is or is not any arrangement
under which such corporation will hold the shares or any of the shares if issued
•or transferred to such corporation in trust for or in any way under the control
of any foreign State or any foreigner, or foreign corporation, or any corporation
under foreign control; and if so, the nature thereof.
In the case of a firm or company.—(a) Whether the controlling interest
in such firm or company is or is not owned by citizens of the United States; and
if so, (6) whether there is or is not any arrangement under which such firm or
company will hold the shares or any of the shares if issued or transferred to such
firm or company in trust for or in any way under the control of any foreign State
•or any foreigner, or foreign corporation, or any corporation under foreign control;
and if so, the nature thereof.
The board of directors of the Corporation, whether acting directly or through
an agent, may, before making any issue or transfer of stock, require such further
•evidence as in their discretion they may think necessary in order to determine
whether or not the issue or transfer of the stock would result in a violation of the
law. No issue or transfer of stock which would cause 50 per cent or more of the
total amount of stock issued or outstanding to be held contrary to the provisions
of the law or these regulations shall be made upon the books of the Corporation.
The decision of the board of directors in each case shall be final and conclusive
and not subject to any question by any person, firm, or corporation on any ground
whatsoever.
If at any time by reason of the fact that the holder of any shares of the Corporation ceases to be a citizen of the United States, or, in the opinion of the
board of directors, becomes subject to the control of any foreign State or foreigner or foreign corporation or corporation under foreign control, 50 per cent
or more of the total amount of capital stock issued or outstanding is held contrary to the provisions of the law or these regulations, the board of directors
may, when apprised of that fact, forthwith serve on the holder of the shares in
question a notice in writing requiring such holder within two months to transfer
such shares to a citizen of the United States, or to a firm, company, or corporation approved by the board of directors as an eligible stockholder. When such
notice has been given by the board of directors the shares of stock so held shall
•cease to confer any vote until they have been transferred as required above and
if on the expiration of two months after such notice the shares shall not have
been so transferred, the shares shall be forfeited to the Corporation.
The board of directors shall prescribe in the by-laws of the Corporation appropriate regulations for the registration of the shares of stock in accordance with
the terms of the law and these regulations. The by-laws must also provide that
the certificates of stock issued by the Corporation shall contain provisions sufficient to put the holder on notice of the terms of the law and the regulations of
the Federal Reserve Board defining the limitations upon the rights of transfer.
SECTION VIII. OPERATIONS IN THE UNITED STATES

No Corporation shall carry on any part of its business in the United States
except such as shall be incidental to its international or foreign business. Agencies
may be established in the United States with the approval of the Federal Reserve
Board for specific purposes, but not generally to carry on the business of the
•Corporation.
SECTION IX. INVESTMENTS IN THE STOCK OP OTHER CORPORATIONS

It is contemplated by the law that a Corporation shall conduct its business
abroad either directly or indirectly through the ownership or control of corporations, and accordingly the Federal Reserve Board hereby consents that a Corporation may invest in the stock, or certificates of ownership, of any other
-corporation organized—
(a) Under the provisions of section 25(a) of the Federal reserve act;
(6) Under the laws of any foreign country or a colony or dependency
thereof;
(c) Under the laws of any State, dependency, or insular possession of the
United States;



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

Provided,first,That such other corporation is not engaged in the general business
of buying or selling goods, wares, merchandise, or commodities in the United
States; and second, that it is not transacting any business in the United States
except such as is incidental to its international or foreign business.
Except with the approval of the Federal Reserve Board, no Corporation shall
invest an amount in excess of 15 per cent of its capital and surplus in the stock
of any corporation engaged in the business of banking, or an amount in excess
of 10 per cent of its capital and surplus in the stock of any other kind of corporation.
No Corporation shall purchase any stock in any other corporation organized
under the terms of section 25(a) or under the laws of any State, which is in substantial competition therewith, or which holds stock or certificates of ownership
in corporations which are in substantial competition with the purchasing Corporation. This restriction, however, does not apply to corporations organized
under foreign laws.
SECTION X. BRANCHES

No Corporation shall establish any branches except with the approval of the
Federal Reserve Board, and in no case shall any branch be established in the
United States.
SECTION XI. ISSUE OF DEBENTURES, BONDS, AND PROMISSORY NOTES

A Corporation is not required by law or by this regulation to make application to or obtain the approval of the Federal Reserve Board before making an
issue of its debentures, bonds, notes, or other obligations, but Corporations
issuing their debentures, bonds, notes, or other obligations must comply with
the rules, regulations, and conditions hereinafter set forth.
(a) General conditions.—All debentures, bonds, notes, or other such obligations issued by a Corporation (except notes payable to banks or bankers within
one year) shall—
(1) Be payable only in gold coin of the United States of the standard of
weight and fineness existing at the time of issue;
(2) Be payable not more than 20 years after the date of issue;
(3) Be secured by collateral which shall—
(i) Consist of lawful money of the United States and/or securities,,
note:?, drafts, bills of exchange, acceptances, including bankers' acceptances, and other evidences of indebtedness and/or shares of stock in
which the Corporation is authorized by law to invest its funds;
(ii) Have an aggregate market value equal at all times to not lessthan 110 per cent of the aggregate principal amount of the obligationsissued or to be issued against such securities; and
(Hi) Be transferred and delivered free of any prior lien, charge, or
encumbrance thereon of any kind whatsoever, to a financially responsible
bank or trust company, which is a member of the Federal reserve
system, as trustee under a trust indenture executed by the Corporation:
as security for the obligations of the Corporation issued or to be issued
thereunder, which trust indenture shall prescribe the general form of
such obligations and shall require that every such obligation shall be
authenticated by the certificate of the trustee noted thereon.
(b) Requirements after issuance.—Within 10 days after the issuance of any
such debentures, bonds, notes, or other obligations (other than promissory notes;
payable to banks or bankers within one year) the Corporation issuing the same
shall file with the Federal Reserve Board—
(1) A statement verified by the affidavit of its president or a vice president
and its treasurer, cashier, or comptroller setting fprth—
(i) That the requirements of this regulation in respect of the issue
of debentures, bonds, notes, or other obligations have been complied
with in all respects;
(ii) The aggregate amount of the debentures, bonds, notes, or obligations issued under the trust indenture and the net price received by
the Corporation therefor;
(ii!) The various items of the collateral security pledged under the
trust indenture and the market value, at the time of the issue of such
obligations, of each and every item thereof; and
(iv) The financial condition of the Corporation and, in detail, all its:
assets and liabilities (fixed and contingent) as of the day immediately
following such issue.
(2) A copy of the trust indenture pursuant to which such obligations of
the Corporation were issued, certified as correct by the trustee therein

named.


REGULATIONS OF THE FEDERAL RESERVE BOARD

267

(3) A certificate of the trustee under such trust indenture setting forth—
(i) That it has accepted the trust created by such trust indenture and
is acting as trustee thereunder;
(it) The securities and/or cash which have been delivered to it and
which it holds as trustee under the trust indenture; and
(Hi) The name and address of the counsel for the trustee.
(4) The latest published balance sheet of the Corporation, certified as
correct by the president or a vice president and by the treasurer, an
assistant treasurer, the cashier or assistant cashier or the comptroller of the
Corporation.
(5) An opinion of the counsel for the trustee under the trust indenture
to the effect that—
(i) The trust indenture has been validly executed in pursuance of
due corporate action;
(it) That all necessary legal formalities have been complied with to
make such obligations, when executed by the Corporation and authenticated by the trustee, valid and enforcible obligations of the Corporation entitled to the benefits afforded by the trust indenture; and
(Hi) That the transfers executed to the trustee of the collateral
security held by it under the trust indenture are in appropriate and
sufficient form.
(6) Copies of all prospectuses and other literature issued by the Corporation or its officers or bankers describing or affecting such issue.
In case there shall be any substitution of or change in the securities at any
time held under any such trust indenture securing an issue of debentures, bonds,
notes, or other obligations the Corporation, each time it makes a report to the
Federal Reserve Board pursuant to the provisions of Section XVI, shall file with
the Federal Reserve Board a statement, verified by the affidavit of the president or
a vice president and the treasurer, cashier, or comptroller of the Corporation—
(1) Giving the details of such substitution or change; and
(2) Certifying that such substitution or change has not resulted in a
reduction of the aggregate market value of the collateral to an amount below
110 per cent of the aggregate principal amount of the obligations issued or
to be issued against such securities.
Such statement shall be accompanied by an acknowledgment by the trustee
under the trust indenture that there has been delivered to it and that it holds as
such trustee the additional collateral specified in such statement.
The Federal Reserve Board reserves the right to make public whenever it
believes it to be necessary in the public interest any documents filed with it under
this subsection.
(c) Advertisements.—No circular, prospectus, letter, advertisement, or other
statement published or issued in any form or manner by a Corporation shall
contain any matter to indicate that any issue of debentures, bonds, notes, or
other obligations by such Corporation or the collateral securing same has in any
way received the approval of the Federal Reserve Board or that the collateral
securing same has been appraised or approved in any way by the Federal Reserve
Board. This requirement will be strictly enforced in order that there may be no
possibility of the public obtaining the impression that the Federal Reserve Board
has approved in any way any such issue of debentures, bonds, notes, or other such
obligations or the collateral securing same.
SECTION XII. SALE OF SECURITIES WITH GUARANTY OR INDORSEMENT

Whenever a Corporation sells, discounts, or negotiates with its indorsement
or guaranty any securities, notes, drafts, bills of exchange, acceptances, bankers'
acceptances, or other evidence of indebtedness, it shall enter on its books a proper
record thereof, describing in detail each such evidence of indebtedness so sold,
discounted, or negotiated, the amount thereof, the parties thereto, the maturity
thereof, and the nature of the Corporation's liability thereon. Every financial
statement of the Corporation submitted to the Federal Reserve Board or made
public in any way shall show the aggregate amount of all such liabilities outstanding as of the date on which such statement purports to show the financial
condition of the Corporation.
SECTION XIII. ACCEPTANCES

Kinds.—Any Corporation may accept (1) drafts and bills of exchange drawn
upon it which grow out of transactions involving the importation or exportation
of goods, and (2) drafts and bills of exchange which are drawn by banks or bankers



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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

located in foreign countries or dependencies or insular possessions of the United
States for the: purpose of furnishing dollar exchange as required by the usages of
trade in such countries, dependencies, and possessions, provided, however, that
no Corporation shall exercise its power to accept drafts or bills of exchange if at
the time such drafts or bills are presented for acceptance it has outstanding any
debentures, bonds, notes, or other such obligations issued by it.
Maturity.—No Corporation shall accept any draft or bill of exchange which
grows out of a transaction involving the importation or exportation of goods with
a maturity ir. excess ol six months, or shall accept any draft or bill of exchange
drawn for the purpose of furnishing dollar exchange with a maturity in excess of
three months.
Limitations.—(1) Individual drawers: No acceptances shall be made for the
account of any one drawer in an amount aggregating at any time in excess of 10
per cent of the subscribed capital and surplus of the Corporation, unless the transaction be fully secured or represents an exportation or importation of commodities
and is guaranteed by a bank or banker of undoubted solvency. (2) Aggregates:
Whenever the aggregate of acceptances outstanding at any time (a) exceeds the
amount of the subscribed capital and surplus, 50 per cent of all the acceptances
in excess of the amount shall be fully secured; or (b) exceeds twice the amount of
the subscribed capital and surplus, all the acceptances outstanding in excess of
such amount shall be fully secured. (The Corporation shall elect whichever requirement (a) or (6) calls for the smaller amount of secured acceptances.) In
no event shall any Corporation have outstanding at any one time acceptances
drawn for the purpose of furnishing dollar exchange in an amount aggregating
more than 50 per cent of its subscribed capital and surplus.
Reserves.—Against all acceptances outstanding which mature in 30 days or
less a reserve of at least 15 per cent shall be maintained, and against all acceptances outstanding which mature in more than 30 days a reserve of at least 3 per
cent shall be maintained. Reserves against acceptances must be in liquid assets
of any or all of the following kinds: (1) Cash; (2) balances with other banks; (3)
acceptances of other banks or bankers; and (4) obligations of the Government of
the United States.
SECTION XIV. DEPOSITS

In the United States.—No Corporation shall receive in the United States any
deposits except such as are incidental to or for the purpose of carrying out transactions in foreign countries or dependencies of the United States where the Corporation has established agencies, branches, correspondents, or where it operates
through the ownership or control of subsidiary corporations. Deposits of this
character m^y be made by individuals, firms, banks, or other corporations,
whether foreign or domestic, and may be time deposits or on demand.
Outside the United States.—Outside the United States a Corporation may
receive deposits of any kind from individuals, firms, banks, or other corporations: Provided, however, That if such Corporation has any of its bonds,
debentures, or other such obligations outstanding it may receive abroad only
such deposits as are incidental to the conduct of its exchange, discount, or loan
operations.
Reserves.—Against all deposits received in the United States a reserve of not
less than 13 per cent must be maintained. This reserve may consist of cash in
vault, a balance with the Federal reserve bank of the district in which the head
office of the Corporation is located, or a balance with any member bank. Against
all deposits received abroad the Corporation shall maintain such reserves as may
be required by local laws and by the dictates of sound business judgment and
banking principles.
SECTION XV. GENERAL LIMITATIONS AND RESTRICTIONS

Liabilities of one borrower.—The total liabilities to a Corporation of any preson, compan3r,firm,or corporation for money borrowed, including in the liabilities
of a company or firm the liabilities of the several members thereof, shall at no
time exceed i.O per cent of the amount of its subscribed capital and surplus: Provided, however, That the discount of bills of exchange drawn in good faith against
actually existing values, the discount of commercial or business paper actually
owned by the person negotiating the same, and the purchase of readily marketable bonds, notes, and other investment securities offered for sale in the open
market, shall not be considered as money borrowed within the meaning of this
paragraph. The liability of a customer on account of an acceptance made by
the Corporation for his account is not a liability for money borrowed within the



REGULATIONS OF THE FEDERAL RESERVE BOARD

269

meaning of this paragraph unless aiid until he fails to place the Corporation in
funds to cover the payment of the acceptance at maturity or unless the Corporation itself holds the acceptance.
Aggregate liabilities of the Corporation.—The aggregate of the Corporation's
liabilities outstanding on account of acceptances, average domestic and foreign
deposits, debentures, bonds, notes, guaranties, indorsements, and other such
obligations shall not exceed at any one time ten times the amount of the Corporation's subscribed capital and surplus. In determining the amount of the
liabilities within the meaning of this paragraph, indorsements of bills of exchange
having not more than six months to run, drawn and accepted by others than the
Corporation, shall not be included.
Operations abroad.—Except as otherwise provided in the law and these regulations, a Corporation may exercise abroad not only the powers specifically set
forth in the law but also such incidental powers as may be usual in the determination of the Federal Reserve Board in connection with the transaction of the
business of banking or other financial operations in the countries in which it shall
transact business. In the exercise of any of these powers abroad a Corporation
must be guided by the laws of the country in which it is operating and by sound
business judgment and banking principles.
SECTION XVI. KEPORTS AND EXAMINATIONS

Reports.—Each Corporation shall make at least two reports annually to the
Federal Reserve Board at such times and in such form as it may require.
Examinations.—Each Corporation shall be examined at least once a year by
examiners appointed by the Federal Reserve Board. The cost of examinations
shall be paid by the Corporation examined.
SECTION XVII. AMENDMENTS TO REGULATIONS

These regulations are subject to amendment by the Federal Reserve Board
from time to time: Provided, however, That no such amendment shall prejudice
obligations undertaken in good faith under regulations in effect at the time they
were assumed.
REGULATION L, SERIES OF 1930
(Superseding Regulation L, Second Series of 1928)

INTERLOCKING BANK DIRECTORATES UNDER THE CLAYTON ACT
SECTION I. DEFINITIONS

Within the meaning of this regulation—
The term "bank" shall include any bank, banking association, or trust company organized or operating under the laws of the United States or of any State
thereof.
The term "national bank" shall be construed to apply not only to national
banking associations but also to banks, banking associations, and trust companies organized or operating under the laws of the United States, including all
banks and trust companies doing business in the District of Columbia, regardless
of the sources of their charters.
The term "resources" shall be construed to mean an amount equal to the sum
of the deposits, capital, surplus, and undivided profits.
The term "State bank" shall include any bank, banking association, or trust
company incorporated under State law.
The term "private banker" shall apply to any unincorporated individual
engaging in one or more phases of the banking business as that term is generally
understood and to any member of an unincorporated firm engaging in such
business.
The term "Edge corporation" shall mean any corporation organized under
the provisions of section 25 (a) of the Federal reserve act, as amended.
The term "city of over 200,000 inhabitants" includes any city, incorporated
town, or village of more than 200,000 inhabitants, as shown by the last preceding
decennial census of the United States. Any bank located anywhere within the
corporate limits of such city is located in a city of over 200,000 inhabitants within
the meaning of the Clayton Act, even though it is located in a suburb or an outlying district at some distance from the principal part of the city.




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ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
SECTION I I . PROHIBITIONS OF CLAYTON ACT

Under section 8 of the Clayton Antitrust Act—
(1) No person who is a director or other officer or employee of a national
bank having resources aggregating more than $5,000,000 can legally serve
at the same time as director, officer, or employee of any other national
bank, rsgardless of its location.
(2) No person who is a director in a State bank or trust company having
resources aggregating more than $5,000,000 or who is a private banker
having resources aggregating more than $5,000,000 can legally serve at the
same time as director of any national bank, regardless of its location.
(3) No person can legally be a director, officer, or employee of a national
bank located in a city of more than 200,000 inhabitants who is at the same
time a private banker in the same city or a director, officer, or employee of any
other bank (State or national) located in the same city, regardless of the
size of i3uch bank.
The eligibility of a director, officer, or employee under the foregoing provisions
is determined by the average amount of deposits, capital, surplus, and undivided
profits as shown in the official statements of such bank, banking association, or
trust company filed as provided by law during the fiscal year next preceding the
date set for the annual election of directors, and when a director, officer, or
employee has been elected or selected in accordance with the provisions of the
Clayton Act it is lawful for him to continue as such for one year thereafter under
said election or employment.
When any person elected or chosen as a director, officer, or employee of any
bank is eligible at the time of his election or selection to act for such bank in
such capacity, his eligibility to act in such capacity is not affected by reason of
any change in the affairs of such bank from whatsoever cause until the expiration
of one year i'rom the date of his election or employment.
SECTION III. EXCEPTIONS

The provisions of section 8 the Clayton Act—
(1) Do not apply to mutual savings banks not having a capital stock represented by shares.
(2) Do not apply to joint-stock land banks organized under the provisions
of the Federal farm loan act.
(3) Do not apply to banking institutions which do no commercial banking business.
(4) Do not prohibit a person from being at the same time a director,
officer, or employee of a national bank and not more than one other national
bank, State bank, or trust company, where the entire capital stock of one is
owned by the stockholders of the other.
(5) Do not prohibit a person from being at the same time a class A director
of a Federal reserve bank and also an officer or director, or both an officer
and a director, in one member bank.
(6) Do not prohibit a person who is serving as director, officer, or employee
of a national bank, even though it has resources aggregating over $5,000,000,
from serving at the same time as director, officer, or employee of any number
of State banks and trust companies, provided such State institutions are not
located in the same city of over 200,000 inhabitants as the national bank
and do not have resources aggregating in the case of any one bank more than
$5,000,000.
(7) Do not prohibit a person from serving at the same time as director,
officer, or employee of any number of national banks, provided no two of
them are located in the same city of over 200,000 inhabitants and no one of
them has resources aggregating over $5,000,000.
(8) Do not prohibit a person who is not a director, officer, or employee of
any national bank from serving at the same time as officer, director, or
employee of any number of State banks or trust companies, regardless of
their locations and resources.
(9) Do not prohibit a person who is an officer or employee but not a director of a State bank from serving as director, officer, or employee of a national
bank, even though either or both of such banks have resources aggregating
over $5,000,000, provided both banks are not located in the same city of
over 200,000 inhabitants.
(10) Do not prohibit a person who is an officer or employee but not a
director of a national bank from serving at the same time as director, officer,
or employee of a State bank, even though either or both of such banks have



REGULATIONS OF THE FEDERAL RESERVE BOARD

271

resources aggregating over $5,000,000, provided both banks are not located in
the same city of over 200,000 inhabitants.
(11) Do not prohibit a private banker or an officer, director, or employee
of any bank or a class A director of a Federal reserve bank from being at the
same time an officer, director, or employee of not more than two other banks
within the prohibitions of the Clayton Act, if there is in force a permit therefor issued by the Federal Reserve Board.
Exceptions cumulative.—The above exceptions are cumulative.
SECTION IV. PERMISSION OF THE FEDERAL RESERVE BOARD

(a) In general.—Section 8 of the Clayton Antitrust Act, as amended by the
acts of May 15, 1916, May 26, 1920, and March 9, 1928, authorizes the Federal
Reserve Board to permit any private banker or any officer, director, or employeeof any bank, banking association, or trust company, or any class A director of a
Federal reserve bank to serve as director, officer, or employee of not more than
two other banks, banking associations, or trust companies coming within the*
prohibitions of the Clayton Act, if in the judgment of the Federal Reserve Board
it is not incompatible with the public interest.
(b) When obtained.—Inasmuch as this exception to the prohibitions of the
Clayton Act applies only when "there is in force a permit therefor issued by the
Federal Reserve Board," it is a violation of the law to serve two or more banks in
the prohibited classes before such a permit has been obtained. A permit should
be obtained, therefore, before becoming an officer, director, or employee of more
than one bank in the prohibited classes. It may be procured before the person
applying therefor has been elected as director or appointed an officer or employee
of any bank in the prohibited classes.
(c) Applications for permission.—A person wishing to obtain a permit from
the Federal Reserve Board to serve banks coming within the prohibitions of the
Clayton Act should—
(1) Make formal application on F. R. B. Form 94, or, if a private banker,
on F. R. B. Form 94d. Each of these forms is made a part of this regulation.
(2) Obtain from each of the banks involved a statement on F. R. B. Form
94a, which is made a part of this regulation, showing the character of its
business, together with a copy of its last published statement of condition,
and, if a private banker, make a statement on F. R. B. Form 94e showing the
character of his or his firm's business.
(3) Forward all these papers to the Federal reserve agent of his district,
who will attach his recommendation on F. R. B. Form 94b, which is made a
part of this regulation, and forward them in due course to the Federal Reserve
Board.
(d) Compatibility with the public interest.—In determining whether the
issuance of such a permit would be compatible with the public interest, the
Federal Reserve Board will consider—
(1) Whether the banks involved are natural competitors;
(2) Whether their having the same directors, officers, or employees would
tend to lessen competition or to restrict credit; and
(3) Any other facts having a bearing upon the interest of the public in
such banks as affected by their having the same directors, officers, or employees.
(e) Approval or disapproval.—As soon as an application is acted upon by the
board, the applicant will be advised of the action taken.
If the board approves the application, a formal permit to serve on tjie banks
involved will be issued to the applicant.
(/) Hearing.—If it appears to the board that it would be incompatible with
the public interest to grant such permit, the board will so notify the applicant and
will afford him every opportunity to present any additional facts or arguments
bearing on the subject before making any final decision in the case.
(g) Effect of permits.—A permit once granted continues in force until revoked>
and need not be renewed.
(h) Revocation.—All permits, however, are subject to revocation whenever theFederal Reserve Board, after giving reasonable notice to the persons to whom
they were issued and affording them an opportunity to be heard, finds that the
public interest requires their revocation.
SECTION V. PERMITS UNDER SECTION 25 OF THE FEDERAL RESERVE ACT

With the approval of the Federal Reserve Board, any director, officer, or employee of a member bank which has invested in the stock of any corporation;



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ANNUAL REPORT OP THE FEDERAL RESERVE BOARD

principally engaged in international or foreign banking or financial operations or
banking in a dependency or insular possession of the United States, under the
provisions of section 25 of the Federal reserve act, may serve as director, officer,
or employee of any such foreign bank or financial corporation.
Applications for approval.—The approval of the Federal Reserve Board for
such interlocking directorates may be obtained through an informal application
in the form of a letter addressed to the Federal Reserve Board either by the
*officer, director, or employee involved, or in his behalf by one of the banks which
he is serving. Such application should be sent directly to the Federal Reserve
Board.
SECTION VI. PERMITS TO SERVE EDGE CORPORATIONS

With the approval of the Federal Reserve Board—
(1) Any officer, director, or employee of any member bank may serve
at the same time as director, officer, or employee of any Edge corporation in
whose capital stock the member bank shall have invested.
(2) Any officer, director, or employee of any Edge corporation may serve
at the same time as officer, director, or employee of any other corporation in
whose capital stock such Edge corporation shall have invested under the
provisions of the Edge Act.
Applications for approval.—Such approval may be obtained through an informal application in the form of a letter addressed to the Federal Reserve Board
either by the director, officer, or employee involved, or in his behalf by one of the
taanks or corporations involved. Such applications should be sent^directly^tojthe
Federal Reserve Board.




ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

273

DIRECTORY OF THE FEDERAL RESERVE BOARD
(December 31,1930)
EUGENE MEYER, Governor.

EX OFFICIO MEMBERS

Vice Governor.

A. W. MELLON,

Secretary of the Treasury, Chairman.
JOHN W. POLE,

Comptroller of the Currency.

CHARLES S. HAMLIN.
ADOLPH C. MILLER.
GEORGE R. JAMES.

W. M. IMLAY, Fiscal Agent.
E. M. MCCLELLAND, Assistant Secre- E. A. GOLDENWEISER, Director Division
of Research and Statistics.
tary.
CARL E. PARRY, Assistant Director
J. C. NOELL, Assistant Secretary.
Division of Research and Statistics.
, Chief, Division of Examination and Chief Federal Reserve EDWARD L. SMEAD, Chief Division
Bank Operations.
Examiner.
WALTER L. EDDY, Secretary.

WALTER WYATT, General Counsel.

SALARIES OF OFFICERS AND EMPLOYEES OF THE
FEDERAL RESERVE BOARD
(December 31,1930)
OFFICE OF SECRETARY

Walter L. Eddy, secretary
E. M. McClelland, assistant secretary
J. C. Noell, assistant secretary
Staff:
2 at $4,800
1 at $4,000
1 at $3,800
1 at $3,700
1 at $3,300
1 at $3,200
1 at $3,000
•2 at $2,900
2 at $2,800
1 at $2,600
•2 at $2,500
1 at $2,400
2 at $2,200
2 at $2,100
3at$2,000___
___
2 at $1,800
1 at $1,740
3 at $1,600
1 at $1,500
1 at $1,400
1 at $1,000
1 at $840
10 part-time employees
Total

$14, 000. 00
9, 000. 00
7, 000. 00
9, 600. 00
4,000. 00
3, 800. 00
3, 700. 00
3,300. 00
3,200.00
3,000. 00
5, 800. 00
5, 600. 00
2, 600. 00
5,000.00
2,400. 00
4,400. 00
4, 200. 00
6,000.00
3, 600. 00
1, 740. 00
4, 800. 00
1, 500. 00
1, 400. 00
1,000. 00
840. 00
3, 001. 00
114,481.00

OFFICE OF GENERAL COUNSEL

Walter Wyatt, general counsel
George B. Vest, assistant counsel
B. M. Wingfield, assistant counsel
Staff:
1 at $3,000
2 at $2,800
1 at $1,920
1 at $1,800
1 at $1,380
Total




12, 000. 00
7, 000. 00
6, 000. 00

.,

3,000.00
5, 600. 00
1, 920. 00
1,800.00
1, 380. 00
38, 700. 00

274

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
OFFICE OF FISCAL AGENT

W. M. Imls.y, fiscal agent
Oliver E. Foulk, deputy fiscal agent
Staff: 1 at $2,100

$5, 000. 00
4, 200. 00
2, 100. 00
11, 300. 00

Staff:
1 at $3,600
2 at $3,000
1 at $2,900
1 at $2,300
1 at $2,000
1 at $1,600

OFFICES OF MEMBERS OF THE BOARD

3, 600. 00
6, 000. 00
2, 900. 00
2, 300. 00
2, 000. 00
1, 600. 00

Total

18, 400. 00
DIVISION OF BANK OPERATIONS

Edward L. Smead, chief of division
John R. Van Fossen, assistant chief
Staff:
1 at $5.000
1 at $3^600
3 at $2^00
1 at $2,800
1 at $2,700
1 at $2.500
1 at $2.100
1 at $l!900
6 at $l!800
4 at $1.700
2 at $1.600
1 at $L560
2 at $l'.44O
Total

12, 000. 00
6, 700. 00
.

5, 000. 00
3, 600. 00
8, 700. 00
2, 800. 00
2, 700. 00
2, 500. 00
2, 100. 00
1, 900. 00
10, 800. 00
6, 800. 00
3, 200. 00
1, 560. 00
2, 880. 00
73, 240. 00

DIVISION OF EXAMINATION

, chief of division and chief Federal reserve examiner.
Examiners:
Frank J. Drinnen
9, 000. 00
Rolfe E. Brett
7, 000. 00
L. A. A. Siems
6, 000. 00
R. F. Leonard
5, 700. 00
M. R. Wilkes
5, 400. 00
Assistant examiners:
2 at $5,200
10, 400. 00
1 at $4,800
4, 800. 00
1 at $4,500
4, 500. 00
2 at $4,200
8, 400. 00
1 at $4,000
4, 000. 00
1 at $3,800
3, 800. 00
1 at $3,600
3, 600. 00
1 at $3,500
3, 500. 00
2 at $2,700
5, 400. 00
Staff: 1 at $2,400
2, 400. 00
Total




83, 900. 00

FEDERAL RESERVE BOARD SALARIES

275

DIVISION OF RESEARCH AND STATISTICS

E. A. Goldenweiser, director of division
Carl E. Parry, assistant director
Staff:
1 at $6,000
2 at $5,000
1 at $3,800
2 at $3,600
1 at $3,500
2 at $3,400
1 at $3,160
1 at $2,800
1 at $2,600
1 at $2,500
1 at $2,200
2 at $2,100
8 at $2,000
2 at $1,900
1 at $1,860
2 at $1,800
5 at $1,680
1 at $1,620
1 at $1,560
3 at $1,440
1 at $1,200
Total

$12, 000. 00
8, 500. 00
6, 000. 00
10, 000. 00
3, 800. 00
7, 200. 00
3, 500. 00
6, 800. 00
3, 160. 00
2, 800. 00
2, 600. 00
2, 500. 00
2, 200. 00
4, 200. 00
16, 000. 00
3, 800. 00
1, 860. 00
3, 600. 00
8, 400. 00
1, 620. 00
1, 560. 00
4, 320. 00
1, 200. 00
117, 620. 00

DIVISION OF FEDERAL RESERVE ISSUE AND REDEMPTION

L. G. Copeland, chief of division
W. J. Tucker, assistant chief
Staff:
1 at $2,500
2 at $2,000
1 at $1,920
2 at $1,860
2 at $1,680
2 at $1,620
I5jat $1,500
8 at $1,380
1 at $1,320

4, 500. 00
2, 920. 00
2, 500. 00
4, 000. 00
1, 920. 00
3, 720. 00
3, 360. 00
3, 240. 00
22,500.00
11, 040. 00
1, 320. 00

TotaL-_

61, 020. 00
MESSENGERS

1 at $1,800
1 at $1,600
2 at $1,560
8 at $1,320
1 at $1,250
1 at $1,200
1 at $1,100
1 at $1,000

1, 800. 00
1, 600. 00
3, 120. 00
10, 560. 00
1, 250. 00
1, 200. 00
1, 100. 00
1, 000. 00

Total

21, 630. 00
CHARWOMEN

$ at 50 cents per hour
Grand total




2, 887. 00
543, 178. 00

276

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

RECEIPTS AND DISBURSEMENTS OF THE FEDERAL
RESERVE BOARD
RECEIPTS AND DISBURSEMENTS OF THE FEDERAL RESERVE BOARD FOR THE YEAR

1930
Balance Jan. 1, 1930:
Available for general expenses of the board...
_
Available for expenses chargeable to Federal reserve banks

$85,814.96
121,691.56

Total-.

_

$207,506.52

RECEIPTS

Available for general expenses of the board:
Assessments on Federal reserve banks for estimated general
expense of the board
___
_. $809,585.34
Reimbursement of expenditures during 1929. _
127. 57
Subscriptions to Federal Reserve Bulletin
5,069.95
Miscellaneous receipts, refunds, and reimbursements
_..
1,641. 57
Reimbursement on account of bank examinations. _
5,046.43
Total receipts available for general expenses of the board
Available for expenses chargeable to Federal reserve banks:
Assessments on Federal reserve banks for—
Cost of preparing Federal reserve notes._
2,020,415.41
Expenses of leased wire system
_._ 208,856.85
Expenses of private telephone lines
27, 582. 72
Miscellaneous expenses
_
11, 269. 24

821,470.86

Total receipts available for expenses chargeable to Federal reserve banks 2,268,124.22
Total receipts

__

_

3,089,595. OS

Total available for disbursement

3,297,101.
DISBURSEMENTS

For general expanses of the board:
Expenses for 1929 paid in 1930
_._
__
Expenses for 1930 (per detailed statement)
$778, 759. 94
Less accounts unpaid Dec. 31, 1930 (estimated)-..
13, 731.14
M iscellanec us expenses reimbursable
_
Refunds on account of subscriptions to Federal Reserve Bulletin.
Total disbursements for general expenses of the board
For expenses chargeable to Federal reserve banks:
Cost of preparing Federal reserve notes
Expenses oi leased wire system
Expenses oi private telephone lines
Miscellaneous expenses
_

$16,924.05
765, 028. 80
62. 79
9.10
782,024. 74

1,984,854.51
205,269.82
_
27,582. 72
5,940.59

Total disbursements for expenses chargeable to Federal reserve banks
Total disbursements..Balance Dec. 31, 1930:
Available for general expenses of the board, 1931, and accounts unpaid
Dec. 31, 1930
Available for expenses chargeable to Federal reserve banks unpaid Dec.
31, 1930
Total balance...




2,223,647.64
3,005,672.38

125,261.08
166,168.14
291,429.22

DETAILED STATEMENT OF EXPENSES OF THE FEDERAL RESERVE BOARD,

Total

January

February

March

April

May

June

July

1930

August

September

October

November

December

PERSONAL SERVICES
Board members and their staff
Office of the secretary.__
Office of general counsel
Office of fiscal agent
Division of examination
Division of bank operations
Division of research and statistics
Division of issue and redemption
Messengers
_
___
Charwomen
General

_
_

_
_

Total

$97,064.99 $8, 656. 63 $8, 656.67 $8, 656, 70 $8, 656. 63 $8, 656, 67 $8,656. 70
110,312.46
9,063.40 9.024.49 8,999. 44 8, 917. 57 9,069. 49 9,191. 75
38, 700. 00 3, 224.99 3,224.99 3, 225.02 3, 224.99 3, 224.99 3,225.02
941.67
11, 300. 00
941. 67
941. 66
941. 67
941. 66
941.67
85, 526. 03 7, 267. 67 7, 241.66 7, 241. 70 7, 241.64 7,241. 66 7, 240. 87
6,078.25 6,111.67 6, 111. 74 6,116. 59 6,103. 34 6,103.40
73,192.49
114, 554.80 9,105.12 9,328.68 9, 680. 77 9, 259.89 9,085.01 9, 266. 77
71, 673.14' 7, 763. 34 7, 720.01 7,713. 38 7,006. 68 5,246. 67 5, 250.02
1, 802.48 1.802.50 1,802. 52 1, 802.48 1,802.50 1,802. 52
21,604.00
2,887.00
234.00
207.00
234. 00
234. 00
225.00
225.00
633. 3;
1,000.00
4,055. 33
384.00

$8,591. 63 $8, 550. 01 $7, 300. 03
9,187. 90 9,161. 88 9, 505.04
3, 224.99 3, 224.99 3, 225. 02
941. 66
941. 67
941. 67
7,092. 47 6,991. 66 6,991. 70
6,103. 26 6,103.34 6,103.40
9,972. 72 10, 589.18 10,494.10
5, 249. 98 5,163.33 5, 210.02
1,802.48 1, 776. 50 1,802. 52
258.00
250.00
260.00
1,182.00
400.00
416.00

$7, 358. 30 $7,208. 34 $6,116. 68
9,301. 73 9, 346.15 9,543. 62
3,224.99 3,224.99 3,225.02
941.66
941. 67
941.67
6,991.64 6,991. 66 6, 991.70
6, 050. 76 6,103. 34 6,103.40
9,427.11 9, 218. 68 9,126. 77
5,209.98 5,085.00 5,054. 73
1, 802.48 1,802.50 1,802.52
270.00
240.00
250.00
40.00

630,870. 24j 54,137. 54 54, 259.34 55, 240. 27 54,402.13 51, 597.00 52,287. 72 53, 607. 09 53,178. 56 52, 223. 50 50, 618. 65 50,162. 33 49,156.11

NONPERSONAL SERVICES
Transportation and subsistence:
Board members and their staff
Office of the secretary
_
Office of general counsel
Division of examination
Division of research and statistics
All other divisions, including local car
fare
Communication service:
Telephone
__
Telegraph
Postage
Printing, binding, etc
Repairs
Heat, light, and power
Miscellaneous, unclassified
Equipment rental
_
Supplies, stationery and office
Equipment, furniture and office
Books and periodicals
Rent._

2,484. 79
374. 35
37.53
56,395.45
2,406.77

440. 70

87.55
359.40

232. 56

551.65
14.95

124. 65

130.

161. 73

430. 32

31.30

42.03

207.15

45.03

25.64
1,164. 95
726. 95

3, 842. 31

4,289.00
80.74

4,495. 04
314. 5T

3,141.04
114.47

4, 805. 73
90.56

4, 734.08
797. 86

6, 589.22
103.11

4, 226.05
32.55

208.88
8,109.97
3,355.58
711.65
38, 371.40
541.09
855.46
1, 547. 31
54.00
4, 996.81
5,462.90
3, 360.17
16, 215.59

9,922.19
30.59

11.89
4,606.85
61.46

114.78

296. 52

276. 78

326.90

244.28

679.42
340. 01
65.60
6, 313.69
36.46
81.51
187.54
4.50
111.20
938.40
1,475.67
1,333.33

622.32
277.39
30.00
2,182.61
131.72
81.52
175.79
4.50
246.4:
224.81
1,009.30
1, 333.33

4, 578.99
53.91

642.54
701.88
383.64
312.93
267.46
31.00
84.00
98.40
4,196.93 2, 614. 22, 3,316.92
18.40
21.881
59.04
81.53
81. 54
81.54
140.19
42. 74
123.03
4.50
4.50
4.50
1,112.89
25.43
112.83
361. 59
61.70
114.05
174. 91
75.00
68.84
1,333. 34 1, 333. 33 1,500.00

199. 73

62.58

261. 88

269.98

141.03

205.54

659.80
387. 52
30.00
2, 665.84
31.55
39.82
96.25
4.50
760.13
688.95
39.08
1, 500. 00

629. 85
169.42
68.65
1, 812.41
61.10
40.00
64.48
4.50
348. 92
304.45
52.53
1, 313. 71

722.46
135. 21
43.50
3,087. 76
28.28
40.00
127. 62
4.50
77.24
365. 58
111.00
1, 313.71

711.11
387. 00
74.00
2,363. 71
72.11
82.00
133. 27
4.50
910. 64
633. 75
58.00
1, 313. 71

712.26
135. 00
27.00
3, 973.62
44.41
82.00
177.40
4.50
239. 78
192.16
17.00
1,313.71

675. 00
175.00
71.50
3,168. 89
8.73
82.00
154. 00
4.50
141. 00
687. 68
239.84
1, 313. 71

725. 00
385.00
88.00
2, 674.80
27.41
82.00
125.00
4.50
910. 34
889. 78
39.00
1, 313.71

9,911. 68

8,467.30 10,879. 29 11,600. 59 11,879.64 10, 770. 62

Total

147,889. 70 16,849.81 16,834.2:

13, 892. 62 11, 703. 40 13, 564.10 11, 536. 44

Grand total.

778, 759. 94 70,987.35 71,093.55

19,132. 8S 66,105. 53 65,161.10 63,824.16 63, 518. 77 61,645. 86 63,102. 79 62, 219.24 62,041.97 59, 926. 73




278

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
SALARIES OF NATIONAL BANK EXAMINERS
(As of December 31, 1930)

DISTRICT NO. 1—BOSTON

F. D. Williams, chief examiner
$13,000
1 examiner, at $7,000; 1 examiner, at $5,300; 1 examiner, $5,100; 3
examiners, at $4,500; 1 examiner, at $4,200; 1 examiner, at $3,300.
Total, 8 examiners
38, 000
DISTRICT NO. 2—NEW YORK

L. K. Roberts, chief examiner
20, 000
1 examiner, at $9,500; 1 examiner, at $7,200; 2 examiners, at $7,000;
1 examiner, at $6,600; 3 examiners, at $6,000; 1 examiner, at $5,500;
1 examine*, at $5,400; 1 examiner, at $5,200; 1 examiner, at $5,000; 1
examiner, at $4,800; 1 examiner, at $4,500; 3 examiners, at $4,200;
2 examinesrs, at $4,000, 2 examiners, at $3,900; 3 examiners, at $3,600;
3 examiners, at $3,300; 5 examiners, at $3,000; 1 examiner, at $2,700.
Total, 33 examiners
152, 500
DISTRICT NO. 3—PHILADELPHIA

,13. L. Newnham, chief examiner
15, 000
1 examiner, at $7,000; 1 examiner, at $6,200; 1 examiner, at $5,800; 2
examiners!, at $4,800; 2 examiners, at $4,500; 3 examiners, at $4,200;
2 examine:rs, at $3,900; 1 examiner, at $3,000. Total, 13 examiners-_ 61, 000
DISTRICT NO. 4—CLEVELAND

William Taylor, chief examiner
12, 000
1 examiner, at $6,800; 1 examiner, at $6,000; 1 examiner, at $5,300;
4 examiners, at $4,500; 1 examiner, at $4,300; 2 examiners, at $3,900;
1 examiner, at $3,800; 1 examiner, at $3,600; 2 examiners, at $3,300;
2 examiners, at $3,000. Total, 16 examiners
68, 200
DISTRICT NO. 5—RICHMOND

I. I. Chorptsning, chief examiner
10, 000
1 examiner, at $5,000; 1 examiner, at $4,800; 4 examiners, at $4,500;
3 examiners, at $4,200; 1 examiner, at $3,800; 1 examiner, at $3,600;
1 examiner, at $3,000; 1 examiner, at $2,700. Total, 13 examiners._ 53, 500
DISTRICT NO. 6—ATLANTA

E. D. Robb, chief examiner
12, 000
1 examiner, at $5,200; 1 examiner, at $5,000; 1 examiner, at $4,800; 1
examiner, at $4,700; 2 examiners, at $3,900; 1 examiner, at $3,000;
1 examiner, at $2,700. Total, 8 examiners
33, 200
DISTRICT NO. 7—CHICAGO

A. P. Leyburn, chief examiner
j.^, uuJ
1 examiner, at $7,000; 1 examiner, at $6,200; 2 examiners, at $6,000; 1
examiner at $5,700; 2 examiners, at $4,800; 2 examiners, at $4,200;
1 examiner, at $4,100; 1 examiner, at $4,000; 3 examiners, at $3,900;
2 examiners, at $3,600; 2 examiners, at $3,300; 2 examiners, at $3,000;
1 examiner, at $2,700. Total, 21 examiners
91, 200
DISTRICT NO. 8—ST. LOUIS

Robert Neill, chief examiner
10, 000
2 examiners, at $6,000; 1 examiner, at $4,500; 2 examiners, at $4,200;
2 examiners, at $3,600; 1 examiner, at $3,300; 1 examiner, at $2,700.
Total, 9 examiners
.
38, 100



SALARIES OF NATIONAL BANK EXAMINERS

279

DISTRICT NO. 9—MINNEAPOLIS

L, L. Madland, chief examiner
__. $10,000
1 examiner, at $5,300; 1 examiner, at $5,000; 2 examiners, at $4y500;
1 examiner, at $4,200; 1 examiner, at $3,900; 1 examiner, at $3,600;
1 examiner, at $3,300; 2 examiners, at $3,000; 2 examiners, at $2,700.
Total, 12 examiners
45, 700
DISTRICT NO. 10—KANSAS CITY

I. D. Wngnt» chief examiner
13, 000
1 examiner, at $5,000; 3 examiners, at $4,500; 1 examiner, at $4,000; 1
examiner, at $3,900; 2 examiners, at $3,600; 4 examiners, at $3,300;
4>xaminers, at $3,000. Total, 16 examiners
58, 800
DISTRICT NO. 11—DALLAS

R. H. Collier, chief examiner
14, 000
2 examiners, at $6,300; 1 examiner, at $6,000; 1 examiner, at $5,000; 1
examiner, at $4,700; 2 examiners, at $4,500; 1 examiner, at $4,000; 3
examiners, at $3,600, 3 examiners, at $3,300. Total, 14 examiners. - 62, 000
DISTRICT NO. 12—SAN FRANCISCO

T. E. Harris, chief examiner
1 examiner, at $6,000; 1 examiner, at $5,700; 1 examiner, at
examiner, at $5,200; 2 examiners, at $4,500; 1 examiner, at
examiner, at $4,000; 2 examiners, at $3,900; 8 examiners, at
examiner, at $3,300; 2 examiners, at $3,000; 2 examiners, at
examiner, at $2,500. Total, 24 examiners
Total, 187 examiners

__

$5,300; 1
$4,300; 1
$3,600; 1
$2,700; 1

_

15, 000

93, 300
795, 900

RECAPITULATION

Examining staff, Office of Comptroller of the Currency:
Chief examiner, at $11,000
Assistant chief examiners—
At $9,000
At $7,000
At $6,500
National bank examiner, at $5,500
Total
Chief examiners of districts—
At $20,000
At $15,000
At $14,000
At $13,000
At $12,000
At $10,000
Total
Other examiners—
At $9,500
At $7,200
At $7,000
At $6,800
At $6,600
At $6,400
At $6,300
At $6,000
At $5,800
At $5,700
At $5,500
At $5,400
33454^-31
19



1
3
1
1
1
7

$57,000

1
2
1
2
3
3
12
.

1
1
5
1
1
2
2
10
1
2
1
1

156, 000

280

ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD

Examining staff, Office of Comptroller of the Currency—Continued.
Other €jxaminers—Continued.
At $5,300
4
At $5,200
3
At $5,100
1
At $5,000
...
6
At $4,800
7
At $4,700
2
At $4,500
24
At $4,300
2
At $4,200
15
At $4,100
1
At $4,000
6
At $3,900
15
At $3,800
2
At $3,600
23
At $3,300
18
At $3,000
20
At $2,700
9
At $2,500
1
Total
Total examining staff *
Total salary

187 $795, 900
206
. . . 1, 008, 900

DIRECTORY OF THE FEDERAL ADVISORY COUNCIL
(December 31, 1930)

District No. 1.—HERBERT K. HALLETT, chairman Atlantic National Bank, Boston, Mass.
District No. 2.—WILLIAM C. POTTER, president Guaranty Trust Co., New York,
N. Y.
District No. 3.—HOWARD A. LOEB. chairman Tradesmens National Bank &
Trust Co., Philadelphia, Pa.
District No. 4.—HARRIS CREECH, president Cleveland Trust Co., Cleveland,
Ohio.
District No. 5.—JOHN POOLE, president Federal American National Bank, Washington, I). C.
District No. 6.—J. P. BUTLER, president Canal Bank & Trust Co., New
Orleans, La.
District No. 7.—MELVIN A. TRAYLOR, president First National Bank, Chicago,
111.
District No. 8.—WALTER W. SMITH, president First National Bank, St. Louis,
Mo.
District No. 9.—GEORGE H. PRINCE, chairman First National Bank, St Paul,
Minn.
District No. 10.—WALTER S. MCLUCAS, chairman Commerce Trust Co., Kansas
City, Mo.
District No. 11.—B. A. MCKINNEY, v'ce president First National Bank, Dallas,
Tex.
District No. 12.—F. L. LIPMAN, president Wells Fargo Bank & Union Trust Co.,
San Francisco, Calif.
1
In addition there are 11 national-bank examiners not receiving salaries who are acting as receivers, or are
unassigned.




ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD

281

GOVERNORS AND DIRECTORS OF FEDERAL RESERVE
BANKS J
DISTRICT NO. 1.—FEDERAL RESERVE BANE OF BOSTON
FREDERIC H. CURTISS, Chairman and Federal Reserve Agent. ALLEN HOLLIS, Deputy Chairman.
YOUNG, Governor

Term
expires
Dec. 31

Residence

Director

Class A:
Edward S| Kennard
_.
Frederick S. Chamberlain
Alfred L. Ripley
Class B:
A. F. Bemis
Albert C. Bowman
Philip R. Allen
Class C.Allen Hollis
Chas. H. Merrinian
Frederic H. Curtiss

Rumford, Me
. . . New Britain, Conn
Boston, Mass

1930
1931
1932

do.._
Springfield, V t ~
East Walpole, M a s s . . . . . .
Concord, N. II
Providence, R. I
Boston, Mass.

R. A.

-. . -

-

_

1930
1931
1932
19301
1931
1932

DISTRICT NO. 2.—FEDERAL RESERVE BANK OF NEW YORK
J. H. CASE, Chairman and Federal Reserve Agent.

OWEN D. YOUNG, Deputy Chairman. GEORGE L .

HARRISON, Governor

Class A:
Delmer Runkle...
Chas. E. Mitchell
Thos. W. Stephens
Class B:
Samuel W. Reyburn
Wm. H. Woodin
Theodore F. Whitmarsh.
Class C:
Clarence M. Woolley
J. H. Case
Owen D. Young

Hoosick Falls, N. Y.
New York, N. Y
Montclair, N. J

1930
1931
1932

New York, N. Y_.
do.
do.

1930
1931
1932

Greenwich, Conn.
New York, N. Y
do

1930
1931
1932

BUFFALO BRANCH
R. M. O'HARA, Managing Director
Buffalo, N. Y Batavia, N. Y .
Buffalo, N. Y .
do
Lockport, N. Y.
Buffalo, N. Y . . .
do

R. M. O'Hara
Arthur G. Hough
George F. Rand.
George G. Kleindinst_.
John T. Symes
F. B. Cooley
Lewis G. Harriman.__

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 3.—FEDERAL RESERVE BANK OF PHILADELPHIA
RICHARD L. AUSTIN, Chairman and Federal Reserve Agent. ALBA B. JOHNSON, Deputy Chairman.
GEORGE W. NORRIS, Governor

Class A:
George W. Reily....
John C. Cosgrove
Joseph Wayne, jr
_
Class B:
Arthur C. Dorrance
C. F. C. Stout..Arthur W. Sewall
Class C:
Alba B. Johnson
.
Harry L. Cannon..
Richard L. Austin

:

.

1930
1931
1932

Camden, N . J . . .
Philadelphia, Pa
do

..

Harrisburg, Pa
Johnstown, Pa
Philadelphia, Pa

1930.
1931
1932

do
Bridgeville, Del.
Philadelphia, Pa

1930
1931
1932

1
For directors elected in December, 1930, for the 3-year term beginning Jan. 1, 1931, see Federal Reserve
Bulletin for February, 1931.




282

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
DISTRICT NO. 4.—FEDERAL RESERVE BANK OF CLEVELAND

GEORGE DECAMP, Chairman and Federal Reserve Agent. L. B. WILLIAMS, Deputy Chairman.
FANCHEB, Governor
Director

Residence

Class A:
O. N. S a m s . . .
Chess Lamberton..
Robert Warclrop
Class B:
S. P. Bush.
R. P. Wrigh;..
George D. C:abbs..
Class C:
W. W. Knight
L. B. Williams
George DeCamp

E. R.

Term
expires
Dec. 31

Hillsboro, Ohio..
Franklin, Pa..
Pittsburgh, P a . . .

1930
1931
1932

Columbus, Ohio.
Erie, Pa
Cincinnati, Ohio..

1930
1931
1932

Toledo Ohio
Cleveland, Ohio,.
do

1930
1931
1932

CINCINNATI BRANCH
C. F. MCCOMBS, Managing, Director
C. F. McCombs
George M. Verity
B. H. Kroger
Fred A. Geier.
E. S. Lee...
John Omwake..
T. J. Davis

-

-

-

-

Cincinnati, Ohio.-.
Middletown, Ohio.
----- Cincinnati, Ohio...
.do_.
Covington, Ky
- Cincinnati, Ohio_._
do

1930
1930
1930
1931
1931
1932
1932

PITTSBURGH BRANCH
J. C. NEVIN, Managing Director
J. C. Nevin
Jos. R. Naylor
R. B. MellonA. E. Braun—
James Rae
A. L. Humphrey
Jos. R. Eisamar..

_
-

—

Pittsburgh, Pa
Wheeling, W. Va~
Pittsburgh, Pa
do
—.do--._
do
- Greensburg, P a .

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 5.—FEDERAL RESERVE BANE OF RICHMOND
WILLIAM W. HCXTON, Chairman and Federal Reserve Agent.

FREDERIC A. DELANO, Deputy Chairman.

GEORGE J. SEAT, Governor

Class A:
Charles E. Rienian...
James C. Braswell...
L. E. JohnsDn
Class B:
J. P. Fishburn.
Edwin C. Graham.-.
D. R. Coker
Class C:
Frederic A. Delano...
Robert Lassiter
William W. Hoxton..

Baltimore, Md
Rocky Mount, N. C.
Alderson, W. Va

1930
1931
1932

Roanoke, Va
Washington, D. C . . .
Hartsville, S. C

1930
1931
1932

Washington, D. C.
Charlotte N. C.
Richmond, Va

_

1930
1931
1932

BALTIMORE BRANCH
ALBERT H. DUDLEY, Managing Director
Albert H. Dudley
Norman James
H . B. Wilcox.
William H. M&tthai.
Levi B. Phillips
JE. P. Cohill...
h. S. Zimmerman




Baltimore, Md_.
do
do
do
.
Cambridge, Md_.
Hancock, Md
Baltimore, Md._.

1930
1930
1930
1931
1931
1932
1932

GOVEENOES AND DIRECTORS

283

DISTRICT NO. 5.—FEDERAL RESERVE BANK OF RICHMOND—Continued
CHARLOTTE BRANCH
HUGH LEACH, Managing Director

Director

Hugh Leach
John A. Law
Robert Gage
John L. Morehead.
W. H. Wood
Chas. A. Cannon..
C. L. Cobb

Residence

Charlotte, N. C_...
Spartanburg, S. C.
Chester, S. C
Charlotte, N. C
.do..
Kannapolis, N. C_.
Rockhill, S. C

Term
expires
Dec. 31
1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 6—FEDERAL RESERVE BANE OF ATLANTA
OSCAR NEWTON, Chairman and Federal Reserve Agent. W. H. KETTIG, Deputy Chairman.
BLACK, Governor
Class A:
H. Lane Young
E. C. Melvin
G. G. Ware
Class B:
J. A. McCrary
Luke Lea
Leon C. Simon
Class C:
George S. Harris
W. H. Kettig
Oscar Newton

E. R.

Atlanta, G a . . .
Selma, Ala
Leesburg, Fla..

1930
1931
1932

Decatur, Ga.
ueuaim, VJ»
Nashville, Tenn_
New Orleans, La.

1930
1931
1932

I
I Atlanta, Ga
Birmingham, Ala
Atlanta, Ga

1930
1931
1932

N E W ORLEANS BRANCH
MARCUS WALKER, Managing Director
Marcus Walker.
Albert P. Bush..
J. D. O'Keefe.—
P. H. Saunders..
R. S. Hecht
L. C. Simon
F. W. Foote

New Orleans, LaMobile, Ala
New Orleans, La..
.do
.do..
..do..
Hattiesburg, Miss..

1930
1930
1930
1931
1931
1932
1932

B I R M I N G H A M BRANCH
A. E. WALKER, Managing Director
A. E. Walker
E. F. Allison
W. E. Henley
W. H. Kettig
John H. Frye
Oscar Wells
W. W. Crawford..

Birmingham, AlaBellamy, Ala
Birmingham, Ala.
.do
.do..
..do.,
-do..

1930
1930
1930
1931
1931
1932
1932

JACKSONVILLE BRANCH
W. S. MCLARIN, Jr., Managing Director
W. S. McLarin, jr.
S. O. Chase
A. F. Perry
J. C. Cooper
G. G. Ware
Fulton Saussy
Edw. W. Lane




Jacksonville, Fla_.
Sanford, Fla
Jacksonville, Fla..
.do..
Leesburg, Fla
Jacksonville, Fla.
do

1930
1930
1930
1931
1931
1932
1932

284

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
DISTRICT NO. 6.—FEDERAL RESERVE BANK OF ATLANTA—Continued
NASHVILLE BRANCH
JOEL B. FORT, Jr., Managing Director
Director

Term
expires
Dec. 31

Residence

Joel B. Fort, jr
William P. Ridley.
J. E. Caldwell
Luke Lea
J. B. Ramsey
P. M. Davis
E. A. Lindsey

Nashville,
Columbia,
Nashville,
.do_.
Knoxville,
Nashville,
..—do

Tenn..
Tenn.
Tenn..

1930
1930
1930
1931
1931
1932
1932

Tenn.
Tenn..

DISTRICT NO. 7—FEDERAL RESERVE BANK OF CHICAGO
WILLIAM A. HEATH, Chairman and Federal Reserve Agent. JAMES SIMPSON, Deputy Chairman. JAME3
B. MCDOUGAL, Governor
Class A:
George M. Reynolds..
Edward R. Estberg...
George J. Sehaller
Class B:
Max W. Babb
S. T. Crapo-..
Robert M. iFeustel....
Class C:
William A. Heath....
F. C. Ball
James Simpson

Chicago, 111
Waukesha, W i s . . . .
Storm Lake, Iowa..
Milwaukee, Wis_.
Detroit, Mich
Fort Wayne, Ind.

1930
1931
1932

Chicago, 111..
Muncie, Ind.
Chicago, 111..
DETROIT

1930
1931
1932

1930
1931
1932

BRANCH

W. R. CATION, Managing Director
W. R. Cation
David McMorran
George B. Morlsy...
James Inglis
William J. Gray
N. P. Hull
Julius H. Haass

Detroit, Mich
Bay City, Mich...
j Saginaw, Mich
i Detroit, Mich
!
do
I Lansing, Mich
I Detroit, Mich

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 8—FEDERAL RESERVE BANK OF ST. LOUIS
JOHN S. WOOD, Chairman and Federal Reserve Agent. JOHN W. BOEHNE, Deputy Chairman.
WILLIAM M C C . MARTIN, Governor

Class A:
Max B. Nahm
John C. Martin

Bowling Green, Ky
Salem, 111
St. Louis, M o . . .
do
.
Little Rock, Ark
Glendora, Miss

Class B:
J W Harris
W. B. Plunkett.
M P Sturclivant
Class C:
John S Wood
Paul Dillard
.
John W Bcehne

.

-

St. Louis, Mo
Memphis, Tenn
Evansville, Ind

.

1930
1931
1932
1930
1931
1932
1930
1931
1932

LOUISVILLE B R A N C H
W. P. KINCHELOE, Managing Director
W. P. Kincheloa
E. H. Woods.
T. D. Seales
E. L. Swearingen
John T. Reynolds
W r R. Cole.
Eugene E. Hogo

-




Boonville, Ind.
Louisville, Ky._
Greenville, K y . .
Louisville, Ky._
Frankfort, Ky._

1930
1930
1930
1931
1931
1932
1932

GOVERNORS AND DIRECTORS

285

DISTRICT NO. 8.—FEDERAL RESERVE BANK OF ST. LOUIS—Continued
MEMPHIS BRANCH
W. H. GLASGOW, Managing Director
Residence

Director
W.JH. Glasgow...
E.IL. Anderson..
R.fB. Snowden_S. E. Ragland
J. W. Alderson—
William Orgill
J. M. Tarrant

Memphis, Tenn..
Clarksdale, Miss..
Memphis, Tenn-.
.do.
Forrest City, ArkMemphis, Tenn._.
Dyersburg, Tenn_.

Term
expires
Dec. 31
1930
1930
1930
1931
1931
1932
1932

LITTLE ROCK BRANCH
A. F. BAILEY, Managing Director
A. F. Bailey
Hamp Williams....
JohnM. Davis
Moorhead Wright..
JoNichol
G. H. Campbell-_.
Stuart Wilson

Little Rock, Ark...
Hot Springs, Ark_.
Little Rock, Ark..
.do.
Pine Bluff, Ark...
Little Rock, Ark..
Texarkana, Ark...

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 9—FEDERAL RESERVE BANK OF MINNEAPOLIS
JOHN R. MITCHELL, Chairman and Federal Reserve Agent. HJOMER P. CLARK, Deputy Chairman.
W. B. GEERY, Governor

Class A:
Karl J. Farup
Paul J. Leeman
J. C. Bassett
Class B:
John S. Owen
W. O. Washburn
N. B. Hotter
Class C:
Homer P. Clark
George W. McCormick
John R. Mitchell

Park River, N. Dak
Minneapolis, Minn
Aberdeen, S. Dak
Eau Claire, Wis
St. Paul, Minn
Helena, Mont
St. Paul, Minn..
Menominee, Mich
Minneapolis, Minn

1930
1931
1932
1930
1931
1932
1930
1931
1932

HELENA BRANCH
R. E . TOWLE, Managing Director
R. E . Towle
C. J. Kelly
Samuel McKennan
T . A. Marlow
Henry Sieben

Helena, Mont .
Butte, Mont
Helena, Mont
— do
do

.

1930
1930
1930
1931
1931

DISTRICT N O . 10—FEDERAL RESERVE BANK OF KANSAS CITY
M . L. MCCLURE, Chairman and Federal Reserve Agent. W M . L. PETRIKIN, Deputy Chairman.
W. J. BATLEY, Governor
Class A:
C. C. Parks
Frank W. Sponable
E . E . Mullaney
Class B:
W. D . Hosford
J. M . Bernardin
L. E . Phillips
'
Class C:
W. W. Magee
William L. Petrikin.—
M. L. McClure




Denver, Colo.
I Paola, Kans
j Hill City, Kans
|
Omaha, Nebr
I Kansas City, M o . .
' Bartlesville, Okla..

1930
1931
1932

Bennington, Nebr.
Denver, Colo
Kansas City, M o . .

1930
1931
1932

1930
1931

286

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
DISTRICT NO. 10.—FEDERAL RESERVE BANK OF KANSAS CITY—Continued
DENVER BRANCH
J. E. OLSON, Managing Director
Director

Term
expires
Dec. 31

Residence

J. E. Olson
Merrit W. Gano_.
Harold KountzD
Murdo MacKenzie
Harry W. Farr R.H.Davis
Henry Swan . .

Denver, Colo
do
do
. . .do
Qreeley, Colo
Denver, Colo
do

...

1030
1930
1930
1931
1931
1932
1932

.

OMAHA B R A N C H
L. H. EARHART, Managing Director
Omaha, Nebr
Seward, Nebr
Nebraska City, Nebr
Omaha, Nebr
Cheyenne, Wyo
Lincoln, Nebr
Omaha, Nebr

L. H . Earhart
D. M . Hildebrand
R. O. Marnell
William Diesinj;..
A. H . Marble
William E . Haidy.
T . L. Davis

1930
1930
1930
1931
1931
1932
1932

OKLAHOMA C I T Y B R A N C H
C. E. DANIEL, Managing Director
Oklahoma City, Okla.
Alva, Okla..
Oklahoma City, Okla..
Tulsa, Okla
do
Oklahoma City, Okla.
Muskogee, Okla

C. E . D a n i e l - - .
J. B. Doolin....
William Mee...
W. F . NicholsNed Holman
Austin M i l l e r H. H . Ogden

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 11—FEDERAL RESERVE BANK OF DALLAS
C. C. WALSH, Chairman and Federal Reserve Agent. S. B . PERKINS, Deputy Chairman.
TALLEY, Governor
Class A:
J. H . Frost
W. H . Patrick
J. P . Williams
Class B :
J. R. Milam
A. S. Cleveland
J J Culbertson
Class C:
S. B . Perkins . . .
C. C. Walsh
E R. Brow a

San Antonio, Tex
Clarendon, Tex
Mineral Wells, Tex
Waco, Tex
_
Houston, Tex._
Paris, Tex

—

__
_
_.
__
_.

_

Dallas, Tex
do
-.
do

-

LYNN P .

1930
1931
1932
1930
1931
1932
1930
1931
1932

E L PASO B R A N C H
J. L. HERMANN, Managing Director
J. L Hermann
A. J. Crawford
.. .
George D . Florv.
_
C M Newman
E. M . Hurd
-A. P . Coles
_A. F . Jones




ElPaso,Tex
Carlsbad, N . Mex
El Paso, T e x . . .
do
- do
. _ . _ . . .-_
. . . .do
--Portales, N . Mex

- -

- - -

_

_

_._
__
—

1930
1930
1930
1931
1931
1932
1932

287

GOVERNORS AND DIRECTORS
DISTRICT NO. 11.—FEDERAL RESERVE BANK OF DALLAS—Continued
HOUSTON BRANCH
W. D. GENTRY, Managing Director

W. D. Gentry
E. A.W. Catterall
Fred Peden
Guy M. Bryan
R. E. Farrar
N. M. Meador
J. Cooke Wilson

Term
expires
Dec. 31

Residence

Director
---.
_
-

Houston, Tex
do
Galveston, Tex
Houston, Tex
do
do
Beaumont, Tex

_

—

1930
1930
1930
1931
1931
1932
1932

SAN ANTONIO BRANCH
M. CRUMP, Managing Director
San Antonio, Tex_.
doDel Rio, Tex
San Antonio, Tex.
do
McAllen, Tex
San Antonio, Tex.

M. Crump
John M. Bennett.
R. T. Hunnicutt..
Reagan Houston..
W.P.Napier
Frank G. Crow...
Franz C. Groos...

1930
1930
1930
1931
1931
1932
1932

DISTRICT NO. 12—FEDERAL RESERVE BANK OF SAN FRANCISCO
ISAAC B. NEWTON, Chairman and Federal Reserve Agent. WALTON N. MOORE, Deputy Chairman.
J. U. CALKINS, Governor

Class A:
Vacancy
C. K. Mclntosh
T. H. Ramsay
ClassB:
Malcolm McNaghten.
E. H. Cox
_A. B. C. Dohrmann...
Class C:
Walton N. Moore
William Sproule
Isaac B. Newton

1930
1931
1932

San Francisco, Calif..
do
Los Angeles, Calif
Madera, Calif
San Francisco, Calif..

1930
1931
1932

.do..
_do..
..do..

1930
1931
1932

PORTLAND BRANCH
R. B. WEST, Managing Director
R.B.West
Edward C. Pease John F . Daly
Nathan Strauss...
J. C. Ainsworth...

Portland, Oreg
The Dalles, Oreg
Portland, Oreg
do
do
SEATTLE

_

_

|
I
|
I
l

1930
1930
1930
1931
1931

BRANCH

C. R. SHAW, Managing Director
C. R. Shaw
Henry A. Rhodes.
M . F . Backus
Chas. H . Clarke.

M. A. Arnold...




I

Seattle, Wash...
Tacoma, Wash..
Seattle, Wash...
.do
I "III_III_III_I do.

1930
1930
1930
1931
1931

288

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
DISTRICT NO. 12.—FEDERAL RESERVE BANK OF SAN FRANCISCO—Continued
SPOKANE BRANCH
D. L. DAVIS, Managing Director
Director

Term
expires
Dec. 31

Residence

D.L.Davis
Peter McGrego:
R. L. Rutter . . .
G. I. Toevs
D . W. Twohy

Spokane, Wash
Hooper, Wash
Spokane, Wash
do
do

.

1930
1930
1930
1931
1931

SALT LAKE CITY B R A N C H
W. L. PARTNER, Managing Director
W. L. Partner.G. G. Wright
E . O. Howard
Lafayette H a n a i e t t .
H. E. Hemingway..

Salt Lake City, U t a h .
do
do
do
Ogden, Utah..

1930
1930
1930
1931
1931

LOS ANGELES B R A N C H
W. N. AMBROSE, Managing Director
W.N.Ambrose
J.B.Alexander
Henry M. Robinson
C. B. VoorhisF. J. Belcher, jr

-




-

...

Los Angeles, Calif.
do
do
| Pasadena, Calif.
..I San Diego, Calif.

1930
1930
1930
1931
1931

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

289

SALARIES OF OFFICERS AND EMPLOYEES OF FEDERAL
RESERVE BANKS
ALL FEDERAL RESERVE BANKS AND BRANCHES COMBINED

Number
1929

1930

Officers:
Chairman and Federal reserve agent
Governor
Other officers
_
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department
Fiscal agency department
Total.

Annual salaries
1930

1929

$278,000
355,000
2,070,840

$278,000
355,000
2,006,350

i, 978. 7 13,112,875
278.9
691, 833
194.5
439,400
268.9
453, 942

13,212,434
664,674
439,886
509, 888

17,401,890

17,466,232

1
1
8

$20,000
30,000
78, 750

$20,000
30,000
78, 750

648
29
10
17

707
29
10
23

896, 940
71,560
24, 760
38,260

931,050
69,310
24,400
47, 700

714

779

1,160, 270

1,201,210

12
12
241

12
12
247
8,623. 5
293.4
192.5
228.6

9,609

FEDERAL RESERVE BANK OF BOSTON
Officers:
Chairman and Federal reserve agent
Governor. _
Other officers
....
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department
Fiscal agency department
Total

FEDERAL RESERVE BANK OF NEW YORK (INCLUDING BUFFALO BRANCH)
Officers:
Chairman and Federal reserve agent
Governor
Other officers. _
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department..
Fiscal agency department
Total,.

_

1

1
1
34

1
29

$50,000
50,000
459,150

$50,000
50,000
426,100

2,240
69
40
30

2,282
64
39
35

3,627,064
170,380
85, 500
66,270

3, 556, 932
149,100
84,190
74, 710

2,415

2,451

4,508,364

4,391,032

FEDERAL RESERVE BANK OF PHILADELPHIA

Officers:
Chairman and Federal reserve agent
Governor...
Other officers
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department
Fiscal agency department
Total




1
1
9

1
1
10

$20,000
30,000
85, 000

$20, 000
30, 000
93,000

610
37
25
13

627
31
25
17

878,110
80,836
55, 330
23,496

901, ioe

712

1,172,772 j

70,852
54, 550
29, 64&
1,199,154

290

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

FEDERAL RESERVE BANK OF CLEVELAND (INCLUDING CINCINNATI AND P I T T S B U R G H
BRANCHES)
Number
1930
Officers:
Chairman and Federal reserve agent
Governor
Other officers..
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department
Fiscal agency department

Annual salaries
1929

1930

1929

1
1
19

$20,000
30,000
172,300

$20,000
30,000
167,800

805.5
24
20.5
20

822.5
25
20.5
25

1, 288,444
54,912
59,300
40,982

1, 264,582
62,242
58,036
48,260

891

Total

1
1
19

914

1,665,938

1, 650,920

FEDERAL RESERVE BANK OF RICHMOND (INCLUDING BALTIMORE AND CHARLOTTE
BRANCHES)
Officers:
Chairman and Federal reserve agent
Governor. _
Other officers..
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department. _
Fiscal agency department..

1
1
17

$20,000
25,000
141, 300

$20,000
25,000
135,200

12

528
9
6
12

702,802
26,810
14,820
16, 770

713, 558
25,820
14,460
16,560

558 !

574

947, 502

950, 598

1
17 j
512 I

Total

FEDERAL RESERVE BANK OF ATLANTA (INCLUDING BIRMINGHAM, JACKSONVILLE,
NASHVILLE, AND N E W ORLEANS BRANCHES AND HAVANA AND SAVANNAH
AGENCIES)
Officers:
Chairman and Federal reserve agent.
Governor.
Other officers.
Employees, by departments:
Banking department.
Federal reserve agent's department..
Auditing department
Fiscal agency department
Total.

1
1
31

$20,000
25,000
184,940

$20,000
25,000
181,800

364.4
6.9
10
8.7

"I

1
1
30
373.1
6.9
10
12

479,475
15,675
21,610
15, 290

483,800
18,150
22,410
15,150

423

434

761,990

766,310

FEDERAL RESERVE BANK OF CHICAGO (INCLUDING D E T R O I T BRANCH)
Officers:
Chairman and Federal reserve agent
Governor
Other officers.
Employees, by departments:
Banking depsxtment
Federal reserve agent's department
Auditing department
Fiscal agency department
Total




$24,000
35,000
257, 000

1
1
30

1
1
29

1,202
36
21
43

1,314
33
22
48

1,857, 582
74,230
48,020
86,640

1,945,722
69,620
49,240
94,900

1,334

1,448

2, 382,472

2,471, 682

$24,000
35,000
253,200

291

FEDERAL RESERVE BANK SALARIES

FEDERAL RESERVE BANK OF ST. LOUIS (INCLUDING LITTLE ROCK, LOUISVILLE, AND
MEMPHIS BRANCHES)
Annual salaries

Officers:
Chairman and Federal reserve agent
Governor
Other officers
Employees, by departments:
Banking department
Federal reserve agent's department.
Auditing department
Fiscal agency department
Total
FEDERAL RESERVE BANK OF MINNEAPOLIS (INCLUDING HELENA BRANCH)
Officers:
Chairman and Federal reserve agent
Governor..
_
Other officers.
__.
Employees, by departments:
Banking department
_
Federal reserve agent's department .
Auditing department
Fiscal agency department
Total
_

1
1
12

1
1
12

$20,000
25,000
79,100

$20,000'
25,000
73,300

230.5
11.5
11
12

241
11
10
13

361,078
27,830
25, 200
23, 800

365,812'
24,360
22,5001
24,090

279

289

562,008

555,062

FEDERAL RESERVE BANK OF KANSAS CITY (INCLUDING DENVER, OKLAHOMA CITY,
AND OMAHA BRANCHES)
Officers:
Chairman and Federal reserve agent.
Governor
Other officers
Employees, by departments:
Banking department._
Federal reserve agent's department _.
Auditing department
Fiscal agency department
Total.

1
1
20

1
1
20

523.1
11
17
25.9

536.1 i
12 i
17 (
26.9

599

614

$20,000
25,000
148,000

$20,000
25,000
145,200

777, 744
23,500
37,080
48, 994

784,158
27,140
36,360
49,682'

1,080,318

1,087,540

FEDERAL RESERVE BANK OF DALLAS (INCLUDING EL PASO, HOUSTON AND SAN
ANTONIO BRANCHES)
Officers:
Chairman and Federal reserve agent.
Governor
Other officers
Employees, by departments:
Banking department
Federal reserve agent's department. _
Auditing department
_.
Fiscal agency department
Total.

1
1
19

1
1
18

$20,000
25,000
130,900

$20,000
25,000*
124, 500'

349
17
13
14

359
14
14
18

550, 800
46,080
31, 260
31,060

546,090
37,140
32, 660
37,540:

414

425 !

835,100

822,840

FEDERAL RESERVE BANK OF SAN FRANCISCO (INCLUDING LOS ANGELES, PORTLAND,
SALT LAKE CITY, SEATTLE AND SPOKANE BRANCHES)
Officers:
Chairman and Federal reserve agent
Governor
Other officers
Employees, by departments:
Banking department
Federal reserve agent's department..
Auditing department
Fiscal agency department Total



1
1
29
691
27
7
13
768

$24, 000
30, 000
196, 800

$24,000'
30,000
194, 600

728
29
8
18

1.107,540
62,160
16,020
27,540

1,122, 450'
70,920
18,720
34,830

1,464, 060

1,495,520

292

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD

STATE BANK AND TRUST COMPANY MEMBERS
The following is a list of 1,019 State bank and trust companyactive members of the Federal reserve system on December 31,
1930, with their loans, investments, deposits, capital, and surplus:
[Figures of "loaas" include overdrafts and rediscounts, but exclude acceptances of other banks and bill
of exchange sold with indorsement]
[In thousands of dollars]
Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 1
CONNECTICUT

Bristol—Bristol-American Bank & Trust Co
Hartford—Phoenix State Bank & Trust Co
South Manchest3r—Manchester Trust Co
Waterbury—Colonial Trust Co

3,962
21,500
1,676

442
774
104
1,656

3,743
27,705
1,583
7,530

300
1,600
200
1,000

300
2,400
100
2,500

1,814
1,232

1,792

3,562
2,044

100
100

100
100

MAINE

Ellsworth—Unicn Trust Co
Sanford—Sanford Trust Co
MASSACHUSETTS

Arlington—Menotomy Trust Co__
BostonBank of Commerce & Trust Co.Day Trust Co
Exchange Trust Co
New England Trust Co
Old Colony Trust Co.._
State Street Trust Co
United States Trust Co
CambridgeHarvard Trust Co
Inman Trust Co
Fall River—B. M. C. Durfee Trust Co.__
Gloucester—Gloucester Safe Deposit & Trust Co.
Greenfield—Fraaklin County Trust Co
Lawrence—Merchants Trust Co
LynnSagamore T::ust Co
Security Trust Co
Newton—Newton Trust Co
_
Norwood—Norwood Trust Co
Quincy—Quincj' Trust Co.__
_.
Salem—Naumkoag Trust Co
Waltham—Wall ham Trust Co
Winchester—Winchester Trust Co
Worcester—Worcester Bank & Trust Co

3,531

954

200

200

6,344
2,230
13,050
21,192
13,887
54,953
10,220

1,221
4,197
5,783
7,527
5,770
3,321
10,724

7,325
4,848
17,814
31,830
10,300
66,789
16, 565

1,000
2,500
1,500
1,200
5,000
3,000
2,500

380
265
1,500
2,800
5,000
3,500
3,000

14,069
3,184
7,477
4,214
5,067
5,471

4,933
773
2,752
748
729
1,699

18,480
3,864
10,219
4,910
5,198
7,927

1,000
200
1,200
200
400
300

1,050
150
800
200
200
300

1,910
1,205
6,359
5,465
10,975
2,512
3,427
1,336
4,465
1,948
3,725
1,606
6,638
1,150 I 1,194
21,194 ! 17,202

2,623
7,461
14, 725
5,554
5,714
5,682
8,086
2,079
34,291

200
200
1,000
300
300
250
400
100
3,800

100
300
1,000
300
300
350
400
|100
3,800

1,176

75

25

4,518

N E W HAMPSHIRE

Conway—Carroll County Trust Co

837 I

RHODE ISLAND

ProvidenceColumbus Exchange Bank
Industrial Trust Co.
Rhode Island Hospital Trust Co.
Union Trust Co

1,811
83,799
55,397
17,957

1,271
55,091
52,506
7,581

2,948
137,956
100,650
26,473

200
4,000
5,000
1,000

7,500
10,000
1,000

4,217
7,445

1,497
1,860

5,636
10,048

500
400

500
600

8,267
863
2,381
817
1.350
681

5,806
235
993
737
454
605

14, 591
1,102
3,515
1,567
1,680
1,209

1,250
100
200
100
100
100

850
50
100
75
100
25

DISTRICT NO. 2
N E W JERSEY

(See also District No. 3)
Asbury Park—Neacoast Trust Co..
Bayonne—Bayonne Trust Co
Bloomfield—
Bloomfield Bank & Trust Co..
Community Trust Co
Watsessing Bank
Bogota—Bank of Bogota
Boonton—Boon ton Trust Co
Carteret—Carteret Trust Co




293

STATE BANK MEMBERSHIP
[In thousands of dollars]
Investments

Total
deposits

Capital

2,010
450

1,007
196

3,144
631

200
100

200
50

1,122
16,567

267
6,128

1,511
23,644

200
1,500

50
1,800

3,145
6,112
4,072
813
1,066
1,636

2,112
1,570
2,820
249
1,615
1,093

5,156
6,701
7,256
1,125
2,685
2,860

500
500
350
100
100
200

250
500
250
60
100
50

10,961
130
685

4,264
240
337
1,101

11,825
288
1,019
7,185

1,000
100
75
800

650
50
75
400

42,860
28,740
838

23,283
7,209
481

70,550
23,865
1,350

3,400
2,000
200

6,600
2,000
50

3,740
9,045
3,963

3,746
3,541
5,356

6,414
12,023
10,148

500
1,250
1,000

300
750
800

6,503
832
29,129
66,444
10,311

15, 998
2,638
1,934
1,573
9,439
6,206

2,258
428
9,106
64,565
1,744
7,688
882
723
772
3,070
4,857

8,115
1,442
44,441
143,069
12,623
21, 771
2,686
2,972
1,545
11,388
11,839

700
400
4,056
6,667
1,200
2,500
600
200
700
850
750

5,535
1,277

2,526
232

9,843
1,961

300
200

1,000
200
3,000
7,000
500
2,500
820
125
250
1,000
750
500
150

1,032
1,049
15,067
854

269
449
5,754
649

1,354
1,277
21,462
1,153

250
200
650
200

50
80
1,000
100

1,068
1,606
85
2,277
1,048

371
829
349
1,594
361

1,447
2,477
360
3,128
1,252

150
100
50
250
225

50
100
28
550
113

4,117
3,508
843
1,057

1,310
396
361

4,761
4,885

200
300
250
200

300
200
75
125

1,396
19,051
891
3,845
276
1,711
415
7,089
275

275
8,922
295
1,888
372
939
105
2,821
15

1,515
37,454
1,134
4,621
573
2,499
493
9,884
294

150
1,000
100
200
50
100
50
500
30

75
1,000
100
600
50
100
100
500
11

72 398
Mil
8,138

47,461
2, 655
1,311

131,883
8,118
10,851

8,200
1, 525
1,000

18,000
875
400

64,400

29,443
42, 069
64, 735
109
1,607

95,101
126,144
229,466
486
2,685

5,500
6,000
10,000
50
100

10,000
20,000
10, 000
36
100

Loans

Surplus

DISTRICT NO. 2—Continued
NEW JERSEY—continued

Cranford—Cranford Trust Co
Dunellen—Peoples Trust Co
East Orange—
East Orange Trust Co
Savings Investment & Trust Co
ElizabethCentral Home Trust Co.Elizabethport Banking Co
Peoples Banking & Trust Co—
Fort Lee—Fort Lee Trust Co
_
Franklin—Sussex County Trust Co
—
Glen Ridge—Glen Ridge Trust Co
Hackensack—
Peoples Trust & Guaranty Co...
State Bank & Trust Co
-Hasbrouck Heights—Bank of Hasbrouck Heights..
Hoboken—Jefferson Trust Co
Jersey CityCommercial Trust Co
_
-New Jersey Title Guarantee & Trust Co
Linden—Linden Trust Co
Montclair—
Bank of Montclair.
Montclair Trust Co
Morristown—Morristown Trust Co
NewarkClinton Trust Co
Columbus Trust Co
Federal Trust Co
-.
Fidelity Union Trust Co
Franklin-Washington Trust Co
Merchants & Newark Trust Co
United States Trust Co
Nutley—Bank of Nutley
Orange—Trust Co. of Orange
Passaic—Peoples Bank & Trust Co
Paterson—Hamilton Trust Co
Perth Amboy—
Perth Amboy Trust Co
Raritan Trust Co
Plainfield—
Guaranty Trust Co
_
Mid-City Trust Co
Plainfield Trust Co
_
—
Rahway—Rahway Trust Co
--.
Ridgefield Park—
Overpeck Trust Co
Ridgefleld Park Trust Co__
Rochelle Park—Rochelle Park Bank
Rutherford—Rutherford Trust Co
South Orange—South Orange Trust Co
WestfieldPeoples Bank & Trust Co
Westfield Trust Co
West Orange—West Orange Trust Co
Westwood—Westwood Trust Co
_
NEW YORK

Adams—Citizens Trust Co
Albany—First Trust Co
Albion—Orleans County Trust Co
Amsterdam—Montgomery County Trust Co..
Avoca—Bank of Avoca
_
_.
Batavia—Genesee Trust Co__
Belmont—State Bank of Belmont
Binghamton—Peoples Trust Co
Blasdell—Bank of Blasdell
BrooklynBrooklyn Trust C o . . .
Globe Bank & Trust Co
Midwood Trust Co
BuffaloLiberty Bank of Buffalo
M . & T. Trust Co
Marine Trust Co
Canisteo—First State Bank..
Chatham—State Bank of Chatham




159, 509
421
1,224

294

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
[In thousands of dollars]
Investments

Total
deposits

Capital

347
830
1,454
2,682
7,252

156
864
974
532
5,221

551
1,466
2,422
3,246
11, 756

50
100
250
175
800

25
100
125
75
1,700

2,805
761
635
2,090
1,374
3,092
2,276
1,635
703

1,334
974
415
766
752
1,466
451
838
381
932

4,052
1,558
1,088
2,668
2,062
4,676
2,137
2,493
1,017
2,963
7,654
4,757
1,386
9,284
1,861
5,438
2,724
3,747
1,158

100
100
75
100
200
250
350
100
50
100
400
200
100
250
100
350
200
300
50
100
100
300
100
200

100
100
65
50
150
200
250
170
100
250
400
200
50
700
80
350
100
200
100
25
50
200
25
90

10,358
8,620
583,080
13,836
469,094
103,462
5,201
7,218
659,517
357, 251
24,904
243,215
15,847
31,053
18,258
1,198,738
1,806
7,511
10,194
618,804
212, 720
62,455
1,684
325,011
3,509
2,166
5,106
57,777
31,533
3,525
1,247
3,229
1,188
914
347
1,122
3,256
4,992
64,514
6,889
1,944
18,826
1,398
1,132
783 |

650
2,000
25,000
1,000
22,250
6,000
1,500
1,350
21,000
21,000
6,000
15,000
750
500
2,000
90,000
200
1,750
3,200
50,000
27,500
10,000
400
12,500
700
1,000
660
2,000
4,000
200
100
200
60
100
100
50
200
300
2,000
300
200
750
50
200
50

350
1,000
50,000
500
40,000
8,000
500
1,800
60,000
40,000
10,000
30,000
750
2,000
2,000
170,000
300
1,450
1,600
65,000
5,500
8,000
150
30,000
350
1,000
360
20,000
1,800
200
50
120
60
50
25
100
100
200
3,000
300
200
1,000
50
75
25

81,625 !
37,034 i

5,400
2,500

5,400
2, 750

Loans

Surplus

DISTRICT NO. 2—Continued
NEW YOKK—continued

Cohocton—Cohocton State Bank
Depew—Bank of Depew
_
Dunkirk—Dunkirk Trust Co
East Aurora—Bank of East Aurora
Elmira— Chemung Canal Trust Co
Endicott—
Endicott Trust Co
_
Union Trust Co...
Farmingdale—Bank of Farmingdale
Floral Park—Floral Park Bank
_
Fredonia—Citizens Trust Co
Geneva—Geneva Trust Co
Gloversville—Trust Co. of Fulton County
Hamburg—Peoples Bank of Hamburg
Hammondsport—Bank of Hammondsport
Hicksville—Bank of Hicksville
Ithaca—Ithaca Trust Co
Johnson City—Workers Trust Co
Katonah—Northern Westchester Bank
Kingston—Kir gston Trust Co
Lackawanna—American Bank
_.,
Little Falls—Eerkimer County Trust Co
Lowville—Lewis County Trust Co
Malone—Peoples Trust Co
._
Mayville—State Bank of Mayville
Middleport—Community Trust Co
Millbrook—Bank of Millbrook
Mineola—Nassau County Trust Co
Mount Kisco—Trust Co. of Northern Westchester_.
Mount Vernorj—Fleetwood Bank
New YorkAmalgamated Bank
American Jnion BankBankers Trust Co
Bank of Europe Trust Co
Bank of Manhattan Trust Co
Bank of Naw York & Trust Co
Bank of Yorktown
Broadway & Plaza Trust Co
Central Hanover Bank & Trust Co
._
Chemical IBank & Trust Co
Continental Bank & Trust Co
Corn Exchange Bank Trust Co
Federation Bank & Trust Co
Fifth Avenue Bank
Fulton Trust Co__
Guaranty Trust Co
Harbor State Bank
International Madison Bank & Trust Co
International Trust Co
Irving Trust Co
Manufacturers Trust Co
..Marine Midland Trust Co.
_
Merchants Bank
New York Trust Co
J. Henry Schroder Trust Co
Times Square Trust Co
Trade Bank of New York
United States Trust Co
—
Niagara Falls—Power City Trust Co
Nyack—Rockland County Trust Co
Olean—Olean Trust Co
Oneida—Madison County Trust & Deposit Co
Orchard Park—Bank of Orchard Park
_
Oriskany Falls—First Trust & Deposit Co
Pearl River—State Bank of Pearl River
Perry—Citizens Bank
_
—
Pleasant ville—Mount Pleasant Bank & Trust Co—
Port Chester—Mutual Trust Co. of Westchester Co.
Rochester—Li ncoln-Alliance Bank & Trust Co
Rome—Rome Trust Co
Scarsdale—Ca eb Heathcote Trust Co
Schenectady— Schenectady Trust Co..Smithtown Branch—Bank of Smithtown.
Spring Valley—Ramapo Trust Co
Stony Brook-Bank of Suffolk County
SyracuseFirst Trust & Deposit Co
Syracuse Trust Co...



1,918
5,229
2,681
632
5,478
920
2,357
1,456
2,939
511
455
839
2,560
825
551

4,963
10,122
451,324
6,817
248,832
56,812
4,902
5,933
377,000
240,969
18,639
127,067
9,232
22,481
13, 648
867,421
525
8,244
7,954
367, 746
184,365
42,493
1,143
146,000
809
4,300
4,844
48,006
22,696
2,707
982
1,969
785
594
168
734
2,720
4,408
46, 611
4,058
1,029
12, 694
803
969
537
74,804
25,909

2,714
2,326
831
4,441

900
3,491
1,265
1,168
644
242
1,394
2,075
326
323
5,392
1,698
104,871
93,610
25,524
739
2,059
179,379
63,190
9,812
85,477
6,503
5,362
5,822
293,533
1,447
1,650
1,984
155,946
42,520
21,042
563
96,635
3,177
591
1,028
20, 606
10,751
936
462
1,252
492
524
197
270
611
1,133
11,054
2,413
1,096
5,578
532
494
276
12,879 i
14,304 '

585
2,384
5,063
1,117
817

295

STATE BANK MEMBERSHIP
[In thousands of dollars]
Investments

Total
deposits

18,816
18,841
12,821

6,841
7,402
2,954

23,856

7,241
1,134
9,348

2,591

Loans

Surplus

DISTRICT NO. 2—Continued
NEW YORK—continued

Utica—
Citizens Trust Co...
First Bank & Trust Co. of Utica
Utica Trust & Deposit Co
—
Warsaw—Trust Co. of Wyoming County
Watertown—Northern New York Trust Co
Westbury—Bank of Westbury Trust Co
White Plains—County Trust Co
___
Williamsville—Amherst Bank

1,660
1,019

14,219
1,150
9,242
2,232
10, 256
1,653

1,625
1,500
500
100
500
100
500
100

1,625
1,500
500
50
500
50
1,500
30

11,193
3,265
8,576
28,258

1,312
1,582
2,931
3,570

10,170
3,082
10,178
24,609

1,500
1,250
1,121
4,000

2,100
400
1,500
10,000

4,065
3,003

2,073
1,437
1,426
11, 397

5,570
4,194
2,262
27, 775
1,007
4,676
2,161
880
915

300
200
100
1,200
100
300
100
100
100

600
400
300
3, 600
50
300
185
65
150

2,502

82
275
237
370

2,006
1,430
2,907
609
2,529
1,993
9,779
577
1,832
7,058
222
585
506
2,785

500
653
400
50
375
250
1,050
125
250
250
50
60
125
300

450
806
550
50
125
250
1,850
35
600
1,100
25
100
65
200

5,920
3,210

1,511
1,467

3,556
5,204

400
300

800
600

3,490
4,702
2,389
1,897

1,792
3,136
2,518
3,153

5,246
6,912

4,825

5,248

4,305
607
909
8,220
777
539
1,098
663
2,435
414
1,338
1,534
650
1,355
784

400
600
250
250
125
125
375
125
125
200
125
250
50
135
200
125
150
125

500
1,500
500
1,000
100
90
2,000
125
33
200
75
500
12
135
250
125
200
150

2,537
880
774

300
180
50

750
36
100

715

820

507

865

22,492

DISTRICT NO. 3
DELAWARE

WilmingtonEquitable Trust Co
Industrial Trust Co
Security Trust Co
Wilmington Trust Co

-

-

NEW JERSEY

(See also District No. 2)
Atlantic CityAtlantic Safe Deposit & Trust Co
Equitable Trust Co
Burlington—Burlington City Loan & Trust Co
Camden— Camden Safe Deposit & Trust Co
__.
Hightstown—Hightstown Trust Co
Princeton—Princeton Bank & Trust Co...
Riverside—Riverside Trust Co...
_
Swedesboro—Swedesboro Trust Co
_.
Wild wood—Wild wood Title & Trust Co

971

17,232
3,475
1,259

260
812
226
273
619

1,760
4,561
2,531

1,193

867

623
795

PENNSYLVANIA

(See also District No. 4)

Allentown—
Dime Savings & Trust Co..
Liberty Trust Co
Penn Trust Co
Auburn—Bank of Auburn
Bloomsburg—Bloomsburg Bank-Columbia Trust Co.
Carlisle—Carlisle Trust Co
Chester—Chester-Cambridge Bank & Trust Co
Danville—Montour County Trust Co
Du Bois—Union Banking & Trust Co
Easton—Easton Trust Co
East Petersburg—East Petersburg State Bank
Egypt—Farmers Bank of Egypt
_
_
Frackville—Peoples Trust Co
Glenside—Glenside Bank & Trust Co
Harrisburg—
Central Trust Co
Dauphin Deposit Trust Co
Hazleton—
American Bank & Trust Co
Markle Banking & Trust Co
Peoples Savings & Trust Co
Honesdale—Wayne County Savings Bank
Houtzdale—Houtzdale Trust Co
_
Huntingdon—Grange Trust Co
Jenkintown—Jenkintown Bank & Trust Co__
Kulpmont—Dime Deposit Bank & Trust Co
Lansdale—Lansdale Title & Trust Co
Lemoyne—Lemoyne Trust Co
Le wisto wn—Le wisto wn TrustCo
Lock Haven—Lock Haven Trust Co
Luzerne—Merchants & Miners State Bank
Lykens—Miners Deposit Bank & Trust Co
Mahanoy City—Merchants Banking Trust Co
Middletown—Citizens Bank & Trust Co
Mount Carmel—Liberty State Bank & Trust Co....
Myerstown—Myerstown Trust Co
Nanticoke—
Miners Trust Co
Peoples Savings & Trust Co
New Oxford—Farmers & Merchants Bank__

33454—31




20

104

821
801
551
960
664

1,578
2,598
7,862

3,169

1,490
6,385

1,067
1,728

261

199
431
311

281
579

562
367

2,651

750

1,814

377

534
448

364
207
535
229

1,013

1,050

83
749
720
279
777
401

1,590

1,554

424
474

552
416

260
712

589
791
711

296

ANNUAL REPORT OP THE FEDERAL RESERVE BOARD
[In thousands of dollars]
Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 3-Continued
PENNSYLVANIA—continued

Norristown—
Montgomery Trust Co
Norristown-Penn Trust Co
Olyphant—
Miners Savings Bank & Trust Co_
Olyphant Bank
Orrstown—Orrstown Bank
Paoli—Paoli B^nk & Trust Co
PhiladelphiaFidelity Philadelphia Trust Co
Girard Trust Co...
Integrity Trust Co
Ninth Bank & Trust Co
North City Trust Co
Pennsylvar ia Co. for Insurances on Lives, etcProvident Trust Co...
Prospect Park—Interboro Bank & Trust Co
Quakertown—Quakertown T r u s t Co
Reading—Berks County Trust Co
Schnecksville—Schnecksville State Bank
Schuylkill Havijn—Schuylkill Haven Trust Co.-.
Scranton—Dime Bank-Lincoln Trust Co
Shamokin—
Dime Trusi; & Safe Deposit Co
_
Shamokin Banking & Trust C o . Steelton—Steelton Bank & Trust Co
Tamaqua—Peoples Trust Co
_
Temple—Temple State Bank
Wilkes-Barre—
Dime Bank Title & Trust Co.-_
Union Saviags Bank & Trust Co
Wilkes-Barre Deposit & Savings Bank
Williamsport—
Lycoming Trust Co
Susquehanna Trust Co
...
_
Williamstown—Williams Valley Bank
...
Wyomissing—Peoples Trust Co
__.
YorkGuardian Trust Co
__
North York State Bank.
York Trust Co

4,077
7,166

2,764
3,929

5,959
8,619

1,000
1,250

1,000
1,500

1,803
1,424
254
374

2,261
1,662
57
280

3,589
2,813
229
503

350
100
35
125

63,904
35,120
50,991
17, 201
1,263
154, 513
21,611
741
601
5,704
49
1,272
12, 667

58, 206
44,084
18, 265
56,169
20, 535
336
715
1,917
131
1,042
4,375

109, 536
75,194
60, 767
22, 937
996
228, 678
27, 241
929
1,121
5,701
180
2,205
16, 607

6,700
4,000
2,988
1, 375
500
8,232
3,200
125
125
1,000
25
125
1,500

350
300
55
75
21,000
16,000
14,000
2,700
210
34,000
12, 260
88
275
1,250
15
350
1,500

1,319
650
1,253
930
192

672
651
1,229
556
251

1,908
1,117
2,078
1,243
377

125
125
350
150
75

300
125
350
225
15

3,523
1,320
3,480

765
1,189
2,479

3,068
1,941
5,239

500
500
499

1,000
375
1,693

7,886
2,759
539
3,534

3,428
1,606
321
1,335

11, 078
3,334
857
3,180

2,000
500
50
500

500
700
75
400

2,113
199
6,247

1,862
252
2,050

3,197
398
7,353

500
40
750

700
20
1,500

1,784
1,017

1,005

3,198
1,005

500
150

150
55

4,129
32, 875
2,640
148
164
1,520
1,403
592
5,625
1,888

2,136
1,502
7,056
779
21
64
204
530
118
3,408
1,072

26, 516
5,929
39, 285
3,590
146
241
2,008
1,860
594
9,649
2,806

2,750
200
3,500
250
25
25
100
150
100
500
100

2,250
300
3,000
125
19
8
85
100
24
250
200

47, 745
55, 936
22, 684
10,691

12, 743
27, 395
8,289
3,315

63, 219
85, 612
36,499
14,110

4,000
5,000
1,700
1,250

3,650
5,000
2,300
1,250

221,987
111,548
27, 731
205,154
462
20,461

35, 217
39, 600
12,405
50, 037
144
8,074

280,606
157,190
41,158
301,636
657
33, 277

13,800
7,000
4,000
22,850
50
2,500

9,200
9,000
2,000
12,150
60
1,500

570
1,392

397
1,191

967
2.750

125
125

22
125

DISTRICT NO. 4
KENTUCKY

(3ee also District No. 8)
Lexington—Security Trust Co
Richmond—State Bank & Trust Co
OHIO
AkronCentral Depositors Bank & Trust Co
Firestone Park Trust & Savings Bank...
First-City Trust & Savings B a n k . .
Alliance—City Savings Bank & Trust Co
Apple Creek—Apple Creek Banking Co
Atwator—Atwater Savings Bank Co
Barberton—Peoples Savings & Banking Co
Bellevue—Union Bank & Savings Co
Bowling Green—State Bank of Bowling Green
Canton—Dime Savings Bank Co
Chagrin Falls—Chagrin Falls Banking Co
•CincinnatiCentral Trust Co
_
Fifty-Third Union Trust Co._
Provident Savings Bank & Trust Co.
Western Benk & Trust Co
ClevelandCleveland Trust Co
_
Guardian Trust Co
Midland Bank..
Union Trust Co
Columbiana—Union Banking Co
€olunibus—First-Citizens Trust Co
Conneaut—
Citizens Banking & Trust Co.
,~.
Conneaut Mutual Loan & Trust Co




297

STATE BANK MEMBERSHIP
[In thousands of dollars!
Loans

Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 4—Continued
OHIO—continued

Danville—Commercial & Savings Bank Co
Dayton—Union Trust Co
Delphos—Peoples Bank
Delta—Peoples Savings Bank Co
Geneva—Geneva Savings & Trust Co
Gibsonburg—
Gibsonburg Banking Co
Home Banking Co
Hills'ooro—Hillsboro Bank & Savings Co
Hubbard—Hubbard Banking Co..
Lyons—Farmers State Bank
Mansfield—Farmers Savings & Trust Co
Massillon—Ohio-Merchants Trust Co
McCutchenville—Farmers Bank
Middlefleld—Middlefield Banking Co
Middletown—American Trust & Savings Bank
MinervaMinerva Banking Co
Minerva Savings & Trust Co
Minster—Minster State Bank
Napoleon—Napoleon State Bank.
NewarkNewark Trust Co
Union Trust Co
_
New PhiladelphiaMerchants State Bank
Ohio Savings & Trust Co..
Newton Falls—First State Bank
_._
Orrville—Orrville Savings Bank
Pomeroy—Farmers Bank & Savings Co
Rittman—Rittman Savings Bank
St. MarysAmerican State Bank
Home Banking Co
Shelby—Citizens Bank.._
Shiloh—Shiloh Savings Bank Co
Steubenville—
Steubenville Bank & Trust Co.._
Union Savings Bank & Trust Co
ToledoCommerce Guardian Trust & Savings Bank
Toledo Trust Co
Upper Sandusky—Citizens Savings Bank
Vermilion—Erie County Banking Co
Wakeman—Wakeman Bank Co
Warren—Union Savings & Trust Co
Wellington—First Wellington Bank
Wooster—Commercial Banking & Trust Co
Youngstown—
City Trust & Savings Bank...
Dollar Savings & Trust Co

I
302
23,278
408
452
806

32
3,412
159
222

307
30,785
609
598
1,253

25
1,500
50
25
125

36
1,700
25
45
LOO

551
492
222
1,938
3,519
115
356
1,795

144
122
93
134
13
758
703
8
48
736

647
635
509
871
220
2,657
3,926
101
486
2,734

50
25
50
50
25
225
1,000
30
25
150

25
25
50
50
8
283
250
4
30

524
770
374
2,183

170 !
239
54
169 |

993 !
567
2,335

50
125
25
100

3,911
4,836
521
1,228
1,343
510
306

225 !
1,341 !

4,082
6,959

200
300

32
51
55
50
200
71

509 I
229 !
213 I
196 \
161 I

502
1, 519
1,276
706
568
570

150
150
125
50
50
60

42
150
65
52
29

408
1,171
1,383
294

50
100
100
25

10
42
60
40

3,528

650
350

204
350

i
|
;
;

92 I
784
745
280
2,721

37 |
881 j
826 |

658 I

19,276
29,653
424
482
219
2,818
946
546

4,584
13,790
145
165
61
528
119
280

! 26,417
| 44,937
I
507
i
653
!
279
| 3,790
950
1,113

1,400
5,000
50
50
25
550
100
150

1,200
3,000
50
25
15
350
100
65

15,737
20,340

1,487
2,115

16,586
22,264

1,000
2,500

1,150
1,250

1,972
3,641
1,467
1,190

125
125
300
200

200
250
200
75

PENNSYLVANIA

(See also District No. 3)
Aliquippa—Woodlawn Trust Co
Ambridge—Ambridge Savings & Trust Co
Beaver—Beaver Trust Co
Beaver Falls—Federal Title & Trust Co
East Pittsburgh—East Pittsburgh Savings & Trust
Co
Erie—Security-Peoples Trust Co
Greensburg—
Merchants Trust Co
_
Union Trust Co.._
_
Meadville—Crawford County Trust Co
New Brighton—Beaver County Trust Co
New Castle—Lawrence Savings & Trust Co
Paint Borough—Merchants & Miners Bank




1,570
1,741
1,473
1,060

521 I
2,407
447 I
248 !

2,082
10,037

2,575
2,697

5,204
14,005

300
300

300
900

2,030
1,969
1,569
1,099
2,675
199

1,004
421
930
359
1,505

2,811
2,401
2,500
894
4,277
228

300
400
250
400
300
30

325
100
250
250
500
40

298

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
[In thousands of dollars]
Total deposits

Capital

6,405
16,356
26,032
13,830
80,002
9,403
165,638
5,370
2,970

700
1,000
2,600
1,500
5,456
500
1,500
600
250

Surplus

DISTRICT NO. 4—Continued
PENNSYLVANIA—continued

PittsburghAllegheny Trust Co
City Deposit Bank & Trust Co
Colonial Trust Co
Commonwealth Trust Co
Peoples-Pittsburgh Trust Co
Potter Title & Trust Co
Union Trust Co
Washington— First Bank & Trust Co
Windber—Wmdber Trust Co

4,134
12.069
19,105
10,598
50,866
5,546
92,887
5,287
1,624

WEST VIRGINIA

1,000
1,000
3,000
1,700
15,000
'- 900
61,500
I 600
550

|

(See also District No. 5)

3,100
5,007
8,148
4,076
36,780
3,914
114,468
868
1,965

|

Sistersville—First Tyler Bank & Trust Co
Wheeling—
Security Trust Co
-..j
Wheeling Bank & Trust Co
DISTRICT NO. 5

|
I
j

1,863

49

1,649

200

100

3,059
6,439

1,227
728

3,679
7,108

300
500

300
500

8,087
45,652
22,110
225
1,352

2,801
20,687
. 10,705
105
152

11, 581
76,488
37, 581
323
1,436

1,000
6,250
2,500
25
100

350
4,250
2,00
25
100

11,917
3,805
757
612
25,345

1,108
969
53
89
8,970

17, 553
6,129
635
810
45, 328

l,2U0
1,000
100
100
2,500

800
500
100
91
2,000

108
1,563
604
586
324
295

67
1,569
189
68
32

176
3,223
921
973
375
287

25
200
100
75
50
78

75
150
100
43
5
18

668
525
439
551

66
20
7
70

677
431
399
526

100
100
50
65

70
50
31
110

\

MARYLAND

Baltimore—
B altimore 0 ommercial B ank
Baltimore Trust Co___
Maryland Trust Co
Forest Hill—Forest Hill State Bank
Salisbury—Farmers & Merchants Bank.
NORTH CAROLINA

CharlotteAmerican Trust Co
Independence Trust Co
Edenton—Bank of Edenton
Washington—Bank of Washington
Winston-Salem—Wachovia Bank & Trust Co.
SOUTH CAROLINA

Bishopville— Peoples Bank
Charleston—Carolina Savings Bank.
Chester— Commercial Bank
Hartsville—Bank of Hartsville
Westminster— Westminster Bank_..
Woodruff—Baiik of Woodruff

Blackstone— C Itizens Bank & Trust Co
Chase City—Peoples Bank & Trust Co
Galax—Peoples State Bank (Inc.)
_
Kenbridge—Bank of Lunenburg (Inc.).. _
Petersburg—Petersburg Savings & American Trust
Co.
RichmondAmerican Bank & Trust Co
Bank of Commerce & Trusts
Broadway Bank & Trust Co
State-Plam;ers Bank & Trust Co..
Union BaEk & Federal Trust Co_
Rural Retreat—Peoples Bank

2,731

1,079

3,120

750

250

16,519
4,602
976
20,287
2,468
134

4,129
455
574
8,072
607
2

17,466
4,336
1,772
32,558
2,443
116

3,500
600
300
2,500
750
35

1,000
600
30
1,500
150

WEST VIRGINIA

(See also district No. 4)
Berwind—Berwind Bank
Charleston—
Kanawha Banking & Trust Co
Kanawha Valley Bank
Franklin—
Farmers Bank of Pendleton
Franklin Bank
Grafton— Grafton Banking & Trust Co..
Harpers Ferry—Bank of Harpers Ferry..




1,074

397

1,562

100

100

3,012
7,941

562
3,250

2,871
11,810

500
1,000

250
1,200

612
299
678
126

3
4
151
53

581
288
911
198

50
40
100
25

30
10
30
6

299

STATE BANK MEMBERSHIP
[In thousands of dollars]

Loans

Investments

Total
deposits

Capital

50
250
50
50
75

20
150

1,000
500
50
200
25
50
100
75
10

1,200
55
30
100
50
100
50
15
100

Surplus

DISTRICT NO. 5—Continued
WEST VIRGINIA—continued

Hurricane—Putnam County Bank
Martinsburg— Peoples Trust Co
Moorefleld—Hardy County Bank
Petersburg—Potomac Valley Bank
St. Marys—Pleasants County Bank

387
2,086
111
249
399

23
115
2
18
29

353
2,366

14,041
1,853
169
995
261
413
445
519
910

1,845
50
13
43
12
102
85
3
10

18,735
1,198
182
758
292
455
557
391
906

417
155
220
65

363
49
138
263

821
187
294

ioo !

50

30
50
100

50
50

2,817
9,855
628
918
330
93
5,698
246
318

1,523
180
44
315
3
1
1,007
58
31

4,396
6,094
646
1,156
724
108
6,618
318
229

500
2,000
100
230
60
30
850
100
100

500
2,000
20
117
12
6
650
65
50

280
267
32
335
93
228
1,650
342
117
254

63
25
1
14
36
29
275
131
16
13

202
118
43
318
125
122
1,419
643
129
391

342
176
282
46
58

120
177
40
1
1
2

358
393
359
41
96
63

150
100
100
25
25

1,172
2,631
179
534
89
67

31
64
5
60
2
2

1,089
2,428
219
571
110
65

300
700
25
100
25
25

9,215
50,105
31,709
16,232
490

3,062
17,969
11,153
3,467
26

13,823
80,223
56,031
19,887
623

1,000
6,750
2,500
750
50

r89

210

8
30

DISTRICT NO. 6
ALABAMA

BirminghamBirmingham Trust & Savings Co
Southern Bank & Trust Co
Clayton—Bank of Commerce
Evergreen—Peoples Bank
•Guin—-Marion County Banking Co
Marion—Marion Central Bank
Monroeville—Monroe County Bank
Roanoke—Merchants & Farmers Bank *._..
Selma—Peoples Bank & Trust Co
FLORIDA

Leesburg—Leesburg State Bank & Trust C o . . .
Marianna—Citizens State Bank
Tallahassee—Exchange Bank
West Palm Beach—Florida Bank & Trust Co.
GEORGIA

AtlantaGeorgia Savings Bank & Trust Co
Trust Company of Georgia
Bainbridge—Citizens Bank & Trust Co
Brunswick—Brunswick Bank & Trust C o . _ .
•Carrollton—Peoples B a n k . .
Claxton—Citizens Bank
Columbus—Columbus Bank & Trust Co
Commerce—Northeastern Banking Co
Dawson—Bank of Dawson
EastmanBank of Eastman
Citizens Banking C o . . .
Eatonton—Farmers & Merchants Bank
_
Greenville—Greenville Banking Co
Jackson—Jackson Banking Co
Jefferson—Citizens Bank & Trust Co
La Grange—La Grange Banking & Trust Co.
Lawrenceville—Brand Banking Co
Lincolnton—Farmers State Bank
Millen—Bank of Millen
Monroe—
Bank of Monroe
Farmers Bank
Felham—Farmers Bank
Reynolds—Citizens State Bank
Rhine—Rhine Banking Co
Sasser—Bank of Sasser
SavannahCitizens Bank & Trust Co
Savannah Bank & Trust Co
Soperton—Bank of Soperton
Statesboro—Bank of Statesboro
Swainsboro—Central Bank..
Wadley—Bank of Wadley

60
100
25 I.
95 !
50 !
96 |
250 I
50 i
25 |

50 I

25

I
|
I
!
!
I
I
!
I
!
!
i
!

11
36
10
17
330
50
15
50
75
30
50
5
6
75
200
18
75
15
25

LOUISIANA

New OrleansAmerican Bank & Trust Co
Canal Bank & Trust Co
Hibernia Bank & Trust Co
Interstate Trust & Banking Co...
Opelousas—Parish Bank & Trust Co.
Figures as of Sept. 24, 1930.




500
2,250
3,000
1,150
15

300

ANNUAL REPORT OP THE FEDERAL RESERVE BOARD
[ID thousands of dollars]
Loans

Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 7
[See also district No. 8)
Argenta—Gerber State Bank
Auburn—Auburn State Bank
Barrington—First State Bank
ChicagoAdams State Bank
Central Tnst Co
Continental Illinois Bank & Trust Co
Depositors State Bank
Drexel State Bank
Harris Trust & Savings Bank
Kaspar American State Bank
Mercantile Trust & Savings Bank
Noel State Bank
Northern Trust Co
_.
Northwestern Trust & Savings Bank
Security Bunk of Chicago
Twenty-sixth Street State Bank
Woodlawn Trust & Savings Bank
Cowden—State Bank of Cowden
Des Plaines—Des Plaines State Bank
Eureka—Farmers State Bank__
Evanston—
Evanston Trust & Savings Bank
State Bank & Trust Co
Geneva—State Bank of Geneva
_
Hinsdale—Himsdale State Bank
Joliet—Joliet Trust & Savings Bank
Kewanee—Union State Savings Bank & Trust Co..
Matteson—Finst State Bank of Mattesqn
Mattoon—Central Illinois Trust & Savings Bank..
Oak ParkOak Park Trust & Savings Bank
Suburban Trust & Savings Bank
Oswego—Oswego State Bank
P0I9—Polo State Bank
Springfield—Ridgely-Farmers State Bank
Stockland—Sumner State Bank
Wenona—First State Bank
Wheaton—Whiiaton Trust & Savings Bank
"Wilmette—Wilmette State Bank
[See also district No. S)
Connersville—Fayette Bank & Trust Co
Elkhart—St. Joseph Valley Bank
Hammond—First Trust & Savings Bank
Indianapolis—Fletcher Savings & Trust Co._
Jamestown—Citizens State Bank
Richmond—Dickinson Trust Co
Rochester—United States Bank & Trust Co..
South BendAmerican Trust Co
St. Joseph Loan & Trust Co
Terre Haute—Terre Haute Trust Co
Tipton— Farmers Loan & Trust Co

164
407
643

2
122
105

175
563
727

25
50
100

11
21
50

660
109,165
641, 276
2,911
4,039
57,497
4,757
7,666
6,524
34,377
10,087
5,727
373
5, 271
211
1,055

1,183
22,081
269,576
1,428
1,436
40, 634
7,526
1,827
552
22,420
5,154
2,533
1,213
1,990
1
463
254

2,127
139, 713
924,088
4,689
6,167
101,405
12, 545
11, 823
7,530
63, 216
15,991
8,226
1,821
7,769
211
1,579
508

200
12,000
75,000
400
500
6,000
1,600
600
1,000
3,000
1,250
700
200
600
25
200
50

75
8,000
65,000
250*
350
5,000
400
400
400
6,000
600
600
60
300
10
125
30

1,717
7,194
906
702
1,510
796
157
736

1,038
2,263
577
395
845
321
3
179

3,019
11, 848
1,469
1,103
2,490
1,154
127

200
500
100
100
100
150
25
100

150
500
50
25
100
26
25
100

5,134
1,150
190
458
4,187
126
373
210
1,483

2,157
1,475
17
87
1,853
25
480
389
1,314

7,183
2,563
158
549
7,705
134
839
fOO
2,929

1,000
200
25
60
600
50
50
100
200

500
200
21
30
150
10
50
40
200,

1,168
2,776
4,976
9,784

265
3,572
457

280
1,476
1,703
10,237
16
775
143

1,436
4,366
5,737
23, 946
305
2,009
656

250
250
1,000
1,500
30
300
75

55200'
1,000
1,500
20
20a
25

5,015
3,370
4,491
591

476
1,611
2,185
4

4,961
3.865
7,060
597

500
800
500
50

160
200
50050

440
515
271
5,267
623
369
954
3,128
25,073
5,448
323
1,736

404
91
106
2,080
138
37
266
999
2,439
1,691
148
84

1,024
646
376
8,008
819
409
1,473
4,437
31, 254

50
50
50
600
50
40
75
300
1,500
1,000
26
200

35
22
5
450
50
12
75
200
1,000
200
24
78

IOWA

Algona—Iowa kState Bank
Ames—Story County Trust & Savings Bank
Bennett—Bennett Savings Bank
Burlington—First Iowa State Trust & Savings Bank.
Chariton—State Savings Bank
Charter Oak—Farmers State Bank
Cherokee—Cherokee State Bank
Clinton—Peoples Trust & Savings Bank
Davenport—American Commercial & Savings Bank.
Des Moines—E ankers Trust Co
Fairbank—Fairbank State Bank.
Fairfield—Iowa State Savings Bank




1,702

301

STATE BANK MEMBERSHIP
[In thousands of dollars]
Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 7—Continued
IOWA—continued

3
1,105
6
32
76
94

117
2,730
146
272
390
342

40
100
25
50
30
25

80
7
12
12
15

240
197
2,442
269
282
1,091
544
954
116
212
475
497
287

211
27
401
2
2
977
336
543
1
48
279
91
104

493
250
2,741
289
261
2,551
919
1,635
123
201
820
620
435

50
50
200
30
35
100
50
100
25
25
60
50
50

25
10
200
30
26
50
30
100
15
13
28
15
13

1,032
635
823

1,925
1,710
2,257

150
110
150

100
40

373
679
2,212

295
344
1,507

629
982
3,533

50
100
200

17
55
200

3,199
3,349

744
1,610

4,587
4,502

250
400

250
400

463
289

110
49

567
326

25
25

25
13

2,636
4,914
68

3,169
4,957
71

5,923
9,139
134

400
500
25

200
1,200
5

614
876
2,188
139
550
139
254
367
669
150

379
820
586
139
256
89
111
267
251
87

984
1,773
2,537
300
878
225
434
603
968
220

50
50
200
25
50
25
25
50
75
25

50
50
150
7
30
5
6
19
25
11

348
387
345
728
385

211
422
94
272
475

544
797
426
895
858

40
50
40
60
100

20
25
18
60
50

508
493
1,151
408
565
431

379
188
519
233
922
84

839
657
1,704
644
1,481
466

50
60
75
25
90
50

50
40
75
13
31
25

607
2,407

Gilman—Citizens Savings Bank
Greenfield—Greenfield Savings Bank
Low den—Lowden Savings Bank
Mechanicsville—Mechanicsville Trust & Savings
Bank
_
Missouri Valley—State Savings Bank
Monticello—Monticello State Bank
Moorhead—Moorhead State Bank
-.
Moville—Moville State B a n k .
Newton—Jasper County Savings Bank
Osage—Home Trust & Sayings Bank
Ottumwa—Ottumwa Savings Bank
Riceville—Riceville State Bank
_._
Royal—Home State Bank
Shenadoah—Security Trust & Savings Bank
Solon—Ulch Brothers State B a n k . .
_
Storm Lake—Security Trust & Savings Bank

109
1,068
175
293
281
231

776
1,094
1,259

Farragut—Commercial Sayings Bank
Fort Madison—Fort Madison Savings Bank
Gilbert—Gilbert Savings Bank

1,305
2,477

2,410
5,199

200
300

52
200

39,088
30,382
68,919
273,061
13,124
470
311

3,998
9.678
35,040
80, 790
4,813
190
251

43,771
41, 689
124, 098
345, 511
17, 253
598
606

2,500
1,500
5,000
15,000
1,000
25
75

2,500
2,500
6,000
30,000
900
25
15

MICHIGAN
(See also District N o . 9)
AdrianAdrian State Sayings Bank
Commercial Savings Bank__
Lenawee County Savings Bank
AlbionAlbion State Bank
_
Commercial & Savings Bank
Alpena—Alpena Trust & Savings Bank
Ann A r b o r Farmers & Mechanics B a n k .
State Savings Bank
ArmadaArmada State Bank
_
Farmers State Bank
___
Bay C i t y Bay City Bank
___
Peoples Commercial & Savings Bank
Bellevue—Farmers State Bank
Big R a p i d s Big Rapids Savings B a n k .
Citizens State Bank.__
__
Birmingham—First State Savings Bank
Blanchard—Blanchard State Bank
Blissfield—Blissfield State Bank
Britton—Peoples State Savings Bank__
Brown City—Brown City Savings Bank
Caledonia—State Bank of Caledonia
Caro—State Savings Bank__
Carson City—Farmers & Merchants State Bank
Cass City—
Cass City State Bank
Pinney State Bank
Cassopolis—Cass County State Bank
Center Line—Center Line State Savings Bank
Charlotte—Eaton County Savings Bank__
ChelseaFarmers & Merchants Bank
Kempf Commercial & Savings B a n k .
Chesaning—Chesaning State Bank
Coopersville—Peoples Savings Bank
Croswell—State Bank of Croswell__
Davison—Davison State B a n k .
DearbornBank of Dearborn.
_
Dearborn State Bank
_
DetroitAmerican State Bank
Detroit Savings Bank
Guardian Detroit Bank
_
Peoples Wayne County Bank
United Savings Bank
Dundee—Monroe County Bank
Eaton Rapids—Michigan State Bank




_

302

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
[In thousands of dollars]

voans

Investments

203
289
847
260

184
74
216
308

371
320
1,003
591

30
35
40
50

13
18
30
17

441
560

98
115

559
705

50
25

27
25

de^osfts |
!

DISTRICT NO. 7—Continued
MICHIGAN—continued

Edmore—Edmore State Bank
Elk Rapids—Elk Rapids State Bank
Farmington—FE.rmington State Savings Bank....
Fennvillo—Old State Bank
Fenton—
Commercial State Savings Bank
Fenton Stat? Savings Bank
FlintCitizens Commercial & Savings Bank
Genesee County Savings Bank
Union Industrial Trust & Savings Bank...
Flushing—Peoples State Bank
Frankenmuth—
American State Bank
_
Frankenmai;h State Bank
___
FremontFremont State Bank
Old State Bunk
Grand Haven—
Grand Haven State Bank
Peoples Savng Bank
_
Grand RapidsGrand Rapiis Savings Bank
__
Home State Bank for Savings
Old Kent Bunk
Greenville—Commercial State Savings Bank
Hart—Oceana County Savings Bank
_.
Highland ParkAmerican Slate Bank
Highland Park State Bank
_
Hillsdale—Hillsdale Savings Bank
HollandFirst State Bank
Holland City State Bank
Holly—First State & Savings Bank
Howell—First State and Savings Bank
Imlay City—
Lapeer County Bank
Peoples State Bank..
Ionia—State Savings Bank
. Jonesville—Grojivenor Savings Bank
Kalamazoo—Bank of Kalamazoo
Lake Odessa—Lake Odessa State Savings Bank
Lakeview—
Commercial State Savings Bank.
Farmers & Merchants State Bank.
Lansing—Ameri can State Savings Bank
_
_
Lapeer—Lapeer Savings Bank
Lenox & Richmond—Macomb County Savings Bank
Lowell—City State Bank
Ludington—Ludington State Bank.
ManchesterPeoples Bark..
Union Savings Bank
Manistee—Manistee County Savings Bank
Marcellus—G. W. Jones Exchange Bank
Marshall—Commercial Savings Bank...
TMason—
Farmers Baak
_
First State <c Savings Bank.
f
Midland—Chemical State Savings Bank..
Milan—Milan State Savings Bank
_
Milford—
Farmers State Savings BankFirst State 3ank-..
_
Monroe—Dansard State Bank
Montague—Farmers State Bank
Mount Clemen?—Citizens Savings Bank
Mount PleasantExchange Savings Bank
Isabella County State Bank
New Baltimore—Citizens State Savings Bank
New Haven—New Haven Savings Bank
Northville—Lapham State Savings Bank
Onsted—Onsted State Bank
Petoskey—Firsi; State Bank
Pigeon—Pigeon State Bank
Pinconning—Pinconning State Bank




7,449
9,017
14,305
289

1,477
2, 935
5, 877
57

8,056
11,396
20,866
340

500
1,000
2,000
25

500
800
1,000
25

462
1,538

347
216

835
1,832

35
10C

30
100

322
795

174
329

520
1,153

50 |
75

25
28

1,416
933

637
250

2,032
1,123

100
50 |

100
50

16,056
5,381
25, 688
858
338

1,631
1,422
2,094
391
160

20,193
7,121
29,674
1, 256
509

1,000
400
2, 000
50
40

!
|

1,000
147
2,000
50
25

3,254
14,150
553

966
9,196
1,005

4,151
23, 535
1,850

300 j
1,000 !
100 |

150
2,000
35

2,989
2,168
1,155
368

549
750
514
415

3,825
3,320
1,552
944

200
100
100
75

100
100
50
40

746
457
1,230
446
7,218
372

216
201
84
194
2,831
139

1,019
662
1,298
655
10,578
550

50
50
100
50
600
25

15
14
50
25
200
25

205
234
7,023
795
756
405
807

148
155
2,163
336
292
219
' 800

357
366
9,083
1,128
1,137
643
1,919

25
40
750
75
50
25
100

10
400
32
25
25
50

301
206
1,382
437
703

178
430
1,856
124
347

517
641
3,223
570
1,047

25
25
100
40
100

25
50
100
40
28

414
408
1,146
364

98
96
426
37

527
545
1,719
406

50
25
50
25

18
15
25
25

231
714
1,692
308
4,732

86
71
375
106
1, 535

323
830
2,180
395
5,711

25
25
200
25
500

13
25
60
13
250

471
887
366
288
1,124
230
732
434
250

668
579
241
166
145
41
354
181
136

50
60
25
25
50
25
75
25
30

33
34
25
30
55
12
25
13
3

1,231
1,682
616
460
1,227 i
269
1,217
623
400

!
|

303

STATE BANK MEMBERSHIP
[In thousands of dollars]
Loans

Investments

Surplus

DISTRICT NO. 7—Continued
MICHIGAN—continued

Pontiac— Pontiac Commercial & Savings Bank
Rogers City—Presque Isle County Savings Bank._
Romeo—Romeo Savings Bank
Saginaw—
American State Bank
_
Bank of Saginaw
_
St. Charles—St. Charles State Bank..
St. Clair—Commercial & Savings Bank
Saugatuck—Fruit Growers State Bank
Sebewaing—Farmers & Merchants State Bank
South Haven—Citizens State Bank
_
Sparta—Sparta State Bank
Spring Lake—Spring Lake State Bank
Tecumseh—
Lilley State Bank
Tecumseh State Savings Bank
Traverse City—Traverse City State Bank
Utica—Utica State Savings Bank
Vicksburg—
Farmers State Bank
_
First State Bank
_
Warren—State Savings Bank
_
Washington—Washington Savings Bank
Wayne—Wayne Savings Bank
Williamston—
Crossman & Williams State Bank
Williamston State Bank

13,170
771
1,204

1,219
662
351

15,737
1,504
1,613

800
35
100

400
20
100

3,616
11,820
313
887
743
617
1,014
333
356

1,516
2,716
659
842
270
587
535
221
139

4,688
16,396
969
2,036
812
1,388
1,419
600
534

400
1,250
25
75
100
50
100
30
25

325
1,000
25
38
50
20
175
15
50

388
640
2,090
596

240
318
1,656
247

674
869
3,813
924

40
50
200
25

20
30
200
25

239
222
854
194
1,374

162
71
201
53
360

400
295
1,065
233
1,946

25
30
50
25
50

7
1
50
15
100

366
397

162
259

403
577

40
50

20
25

1,146
1,109
797
6,638

1,124
341
365
1,015

2,572
1,517
1,131
7,500

100
125
80
1,000

50
25
40
555

5,699
23,999

1,482
5,811

400
1,500
50
100
35
500
200

200
1,500
50
25
18
400
50

WISCONSIN

(See also District No. 9)
Baraboo—Bank of Baraboo
Burlington—Bank of Burlington
Kewaunee—State Bank of Kewaunee
Madison—State Bank of Wisconsin
MilwaukeeBadger State Bank
Marshall & Ilsley Bank
Platteville—State Bank of Platteville
Plymouth—State Bank of Plymouth
Seneca—Farmers & Merchants State Bank
Sheboygan—Citizens State Bank
Sturgeon Bay—Bank of Sturgeon Bay

690
425
3,864
1,733

209
18
1,118
1,339

7,265
31,490
1,089
885
435
4,812
3,253

457
390
255
814
889
698
1,188

131
9
35
52
131
183
348

749
639
271
605
1,311
827
1,101

50
200
35
60
50
100
200

20
40
20
20
50
50
100

6,626
2,005
3,535
7,577
2,800
328
808

641
88
403
1,143
415
4
46

10,881
2,152
4,881
11,034
4,273
232
1,201

600
200
350
500
200
50
100

110
25
150
250
300
10
50

457
612
147
223
399

110
85
10
47
10

548
571
118
239
333

75
100
25
60
100

100
5
20
31

2,352
652
2,191
657
914

1,351
295
2,106
228
293

3,441
838
4,314
947
1,174

300
100
600
110
150

CftQ

oUo

1oH
l oR

DISTRICT NO. 8
ARKANSAS

Batesville—Citizens Bank & Trust Co
Blythville—Farmers Bank & Trust Co
Brinkley—Monroe County Bank
_
_
Conway—Farmers State Bank
Forrest City—Bank of Eastern Arkansas
Hot Springs—Community Bank & Trust Co_
Jonesboro—Bank of Jonesboro
Little R o c k Bankers Trust Co
,
Federal Bank & Trust Co___
Peoples Trust Co.
Union Trust Co
W. B. Worthen Co., BankersMarvell—Bank of Marvell 1
North Little Rock—Twin City Bank
__..
Russell ville—
Bank of Russellville
_._
Peoples Exchange Bank
Siloam Springs—Producers State B a n k . . .
Waldron—Bank of Waldron
Walnut Ridge—Lawrence County BankILLINOIS
(See also District No. 7)
Belleville—Belleville Savings Bank._
Collinsville—State Bank of Collinsville
East St. Louis—Union Trust Co..
Emingham—Effingham State Bank
Granite City—Granite City Trust & Savings Bank.
1
Figures as
 of Sept. 24, 1930.



300
50
200
25

304

ANNUAL REPORT OP THE FEDERAL RESERVE BOARD
[In thousands of dollars]
Investments

Total
deposits

1,018
804
389
374
252
163
111
180
139

127
381
131
252
171
203
100
32
10

1,197
1,396
438
648
357
349
206
190
139

120
150
100
100
50
50
25
25
25

|
!
j
!
;

40
75
50
33
20
10
13

12, 963
23, 246
8,860
2,603

3,702
3,775
1,315
63

4,044
21,453
7,635
2,561

1,000
1,000 i
750
400

1, 250
2,000
450
150

445

100 i

35
25
50
25 !
25 ;
50 ;

25
5
10
18
25
40

100 S
100
100
30
30 ;
100

25
20
200
7
15
20

200
400 i
300
200
200
200
2,600 !
200 I
200
200
500
300
2,150 !
300 |
200
500
10,000
6,000
200 .
200
200
500
120 i
200
200 i
200 i
200 !
200
500 I
1,000 j
200 ;
200

150
500
400
50
100
40
1 400
100
60
200
100
100
1, 450
100
100
200
5 000
2 500
50
50
140
1 000
24
50
100
80
100
50
300
500
100
100

50
30 I
25 |
100

50
2
6
25

Capital | Surplus

DISTRICT NO. 8—Continued
ILLINOIS—continued

Greenville—State Bank of Hoiles & Sons
Harrisburg—First Trust & Savings Bank..
Hillsboro—Montgomery County Loan & Trust Co.
Litchfield—Litchfield Bank & Trust Co
Madison—Union Trust Co
Mount Olive—Mount Olive State Bank
New Athens—Farmers State Bank
O'Fallon—First State Bank
Palmyra—First State Bank...

!

KENTUCKY

(See also District No. 4)

LouisvilleKentucky Title Trust Co_.
Liberty B:ink & Trust Co.
Lincoln Bank & Trust Co
Owensboro—Central Trust Co..
MISSISSIPPI

Pontotoc—Bank of Pontotoc1

497

206

430
153
205
250
85
774

129
1
60
34
173
457

480
145
281
376
371
1,275

800
293
1,329
84
187
417

807
95
51
95
70
217

1,554
339
l,3fO
204 i
277 |
550 :

MISSOURI

(See also District No. 10)
Festus—Citizens Bank..
__
Iberia—Farmers & Traders Bank
_
La Plata—Bark of La Plata
_
Lebanon—Stale Savings Bank _
Linn Creek—Camden County Bank__
Luxemburg— Lemay Ferry Bank..
Maplewood—
Bank of Maplewood & Trust Co_.
Peoples State Bank
Marshall—Wood & Huston Bank
Normandy—Normandy State Bank
Pine Lawn—Pine Lawn Bank
__
Richmond He:ghts—Park Savings Trust Co
St. LouisBaden Bank
Bremen Bank & Trust Co...
_
Cass Bank & Trust Co
Chippewa Trust Co
Easton-Taylor Trust Co
Fidelity Bank & Trust Co
Franklin-American Trust Co
Grant State Bank
Guaranty Bank & Trust Co
Jefferson E ank
Jefferson-G-ravois Bank of St. Louis
Laclede Tiust Co
Lafayette-South Side Bank & Trust Co
Lindell Trust Co
Lowell Bank
Manchester Bank
Mercantile-Commerce Bank & Trust Co...
Mississippi Valley Trust Co
Mound City Trust Co
Natural Bridge Trust Co
North St. Louis Trust Co
Northwestern Trust Co
Sarah-Olive Bank
The Savings Trust Co
Scruggs, Vandervoort & Barney Bank
Shaw Baric & Trust Co
Southern Commercial & Savings Bank
Southwest Bank of St. Louis
Tower Grcve Bank & Trust Co
United Bank & Trust Co
Water Tower Bank
West St. Louis Trust Co
St. Louis County—
Gravois Bank...
Midland Savings Bank
North Sidt) Bank...
Sedalia—Sedal:a Trust Co
i Figures
as of Sept. 24, 1930.



|

I

1,687
2,071
2,919
1,295
1,115
1,182
29, 242
649
730
1,989
3,378
1,367
16, 554
1,420
1,447
3,687
65, 914
49, 515
1,155
1,017
1,484
4, 533
241
2,000
1,808
712
2.301
1,015
8,037
5,345
1,199
1,055

1,210
4,042
2,743
402
566
554
5, 385
1,109
985
1,820
1,448
1,010
10, 331
1.083
2,442
1,627
39, 294
17,815
547
569
889
4,950
158
1,650
1, 035
480
939
1,111
2,283
3,334
581
1,508

497
46
65
210

402
70
138
250

2,725
5,923
5,154
1,760
1,657
1,282
38, 631
1,726
2,122
3, 587
4, 581
1,895
25, 686
2.612
3,848
5,198
123, 822
77,107
1,798
1, 257
2,360
8,249
308
3,300
3,199
1,174
3, 259
2, 143
10, 214
8,813
1,663
2,428
893
93
193
484

305

STATE BANK MEMBERSHIP
[In thousands of dollars]
Invest- I Total
ments j deposits

Surplus

DISTRICT NO* 8-Continued
MISSOURI—continued
University C i t y University City Bank & Trust Co
West End Bank
Versailles—Bank of Versailles...
_
Washington—Franklin County Bank
Webster Groves—Webster Groves Trust Co.

566
454
176
406
481

220
396
74 !
117 !
949

742
883
451
496
1,572

100
100
40
50
100

30
26
15
25
100

832
310
131
292
23,801

70 !
27 I
10
7
3,228

714
315
116
157
30,147

200
30
25
100
3,000

15
30
10
1,500

243
896
1,479
689

109
447
636 •
452 :

350
1,359
2,314
1,291

25
50
100
100

50
100
50

752
701
170

576 '<
1,176
582

1,469
1,876
847

100
100
30

50
60
30

248
238
554
173
179
890
175

41
242 i
30 !
233
28
280
31

320
533
532
489
160
1, 245
240

25
25
50
20
30
100
25

6
25
10
5
25
10
10

2,296
275
1,163

1,484 i
66 i
819

4,365
278
2,724

100
50
100

150
15
100

348
379
218

258 I
124
84 |

485
309

100
100
25

40
25
20

6,428
547
135
206
96
362
1,986
88
118
189
384
55
47

9,735 !
399 I
57 !
2;
8 !
171 i
582 ;
14
132
27
194
38 I
32 !

19, 641
1,069
167
237
120
582
3,683

400
51
14
25
5
18
150

308
199
550
108
170

600
200
50
25
25
50
250
25
25
25
100
30
25

750
208
278
924
297

165
30
12
884
38

1 072
,
185
318
2 083
463

75
25
25
100
25

25
10
10
60
15

151
214
526

93
54
524

332
322
1 078

30
30
75

7
40

TENNESSEE

Brownsville—First State Bank
_
Greenfield—Greenfield Bank._
Halls—Peoples Savings Bank & Trust C o . . .
JBenning—Bank of Henning
—
Memphis—Bank of Commerce & Trust Co.
DISTRICT NO. 9

(See also District No. 7)
Ewen—State Bank of Ewen
•Gladstone—Gladstone State Savings Bank.
Iron Mountain—Commercial Bank
Menominee—Commercial Bank
Sault Ste. M a r i e Central Savings Bank
_..
Sault Savings Bank
South Range—South Range State Bank
MINNESOTA

<31in ton—Clinton State Bank
Excelsior—Minnetonka State Bank...
Madelia—State Bank of Madelia
Plainview—Peoples State Bank
Kevere—State Bank of Revere
••South St. Paul—Drovers State Bank.
Westbrook—Citizens State Bank
MONTANA

Anaconda—Daly Bank Trust Co
Belgrade—Belgrade State Bank
Billings—Security Trust & Savings Bank
Bozeman—
Gallatin Trust & Savings Bank
Security Bank & Trust Co
-.-_-.Broadus—Powder River County Bank
Butte—
Metals Bank & Trust Co
Miners Savings Bank & Trust Co
East Helena—East Helena State Bank
Ennis—Southern Montana Bank*
_..
Fromberg—darks Fork Valley Bank
Hamilton—Ravalli County Bank
Helena—Union Bank & Trust Co
Opheim—First State Bank
Park City—Park City State Bank
Richey—First State Bank
Townsend—State Bank of Townsend
White Sulphur Springs—Central State Bank.
Worden—Farmers' State Bank
_

8
17
25

SOUTH DAKOTA

Belle Fourche—Butte County Bank
Buffalo—First State Bank
Camp Crook—Little Missouri Bank
Mitchell—Commercial Trust & Savings Bank.
Newell—Reclamation State Bank
WISCONSIN

(See also District No. 7)
Boyceville—Bank of Boyceville
•Glenwood City—Firs£ State Bank
Hurley—Iron Exchange Bank.
1
Figures as
 of Sept. 24, 1930.



306

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD
[In thousands of dollars]

Loans

Investments

Total
deposits

Capital

Surplus

DISTRICT NO. 10
COLORADO

DenverCentral Savings Bank & Trust Co
Internatio nal Trust Co
La Junta—Colorado Savings & Trust Co

--

2,326
5,669
376

386
6,389
112

3,508
13,151
499

500
500
75

500
43

513
271
272
733
599

63
67
74
565
138

574
484
336
1,797
1,090

100
50
30
200
125

4
25
30
51
63'

38,628
202
1,041
1,932

33,520
22
860
388

100,020
196
1,970
3,107

6,000
50
200
350

2,000
3
100
150

437
274
208

50
78
19

453
283
207

50
25
30

10
30

200

70

278

30

15,

201

85

322

50

16"-

463
89
458
61

83
16
180
61

482
72
568
164

50
40
25
25

4&
10
25
8-

232

280

537

50

25

. .

93

53

139

25

11

_

150
167
734
27
326
113
167
193
106
698
702
230

10
8
236
1
33
1
2
29
3
4
7
2

157
176
1,134
52
522
153
156
315
399
691
1, 158
246

25
40
125
25
50
25
50
50
25
100
100
40

12
5
12
6
33
5
7
21
25
30
100
30

KANSAS

Hiawatha—Morrill& Janes Bank
Liberal—Citizens State Bank
Sedan—Sedan State Bank
. _
Topeka— Fidelity Savings State Bank
Winfleld—State Bank of Winfield
MISSOURI

(See also District No. 8)
Kansas City—Commerce Trust Co
King City—First Trust Co
St. Joseph—Empire Trust Co
South St. Joseph—St. Joseph Stock Yards Bank
NEBRASKA

Aurora—Fide ity State Bank
Oakland— Oakland State Bank
Western—Saline County Bank
NEW MEXICO

(See also District No. 11)
Aztec—Citizeis Bank
OKLAHOMA

(See also District No. 11)
Okarche—Firist Bank of Okarche
WYOMING

Evanston—Stockgrowers Bank
.
Mountain View—Uinta County State Bank
Newcastle—First State Bank
Powell—Park County Bank
_
DISTRICT NO. 11

_

NEW MEXICO

(See also District No. 10)
Deming—Mimbres Valley Bank ._
OKLAHOMA

(See also District No. 10)
Valliant—Farmers State Guaranty Bank
T;EXAS

Abernathy—First State Bank
Ballinger—Bellinger State Bank
Beaumont—Security State Bank & Trust Co
Bedias—First State Bank
Beeville—Beeville Bank & Trust Co .
Bishop—Firsi; State Bank ._
Brady—Farmers & Merchants State Bank
Bremond—First State Bank
.
Brownfleld—3rownfield State Bank
Brownsville—Texas Bank & Trust Co
Bryan—First State Bank & Trust Co
Canyon—Fin;t State Bank




307

STATE BANK MEMBERSHIP
[In thousands of dollars]
Investments

Total
deposits

Capital

167
327
87
77
786
176

28
28
1
1
224
4

184
396
78
87
1,072

50
50
25
25
200
30

5
25
2
3
55
15

6,306
10,265
256
258
142
118
182
283
293
68
134
167
497
58
527
376
147
98
55
80
162
174
500
113
282
129
123
412
419
73
288
109
79
605
181
98
83
157
104
107

2,749
3,470

10, 916
16,095
228
302
112
147
141
373
859
58
172
164
574
57
916
410
234
45
83
77
178 I
169 I
718
219 |
423 |
184 !
162 I
703 I
430
53
342 j
104 i
85 !
809 i
156 I
77 !
113 j
121 I
114
181 |

1,000
2,000
100
50
25
30
25
50
100
25
50
35
100
25
63
100
35
35
25
25
30
25
75
25
38
30
50
75
75
25
60
35
25
100
60
35
25
40
25
50

500
200

150
7,953
154
97
338

15
2,541
8
1
23

265 |
13,402
161 !
102
556 1

50
1,300
35
25
50

500
5
15
50

96
160
116

2
34
1

94!
271
132

40
25
25

1
3
7

197
91
446
131
50
120

63
33
30
3
1
17

242
191
718
122
62
225

100
50
150
50
25
50

5
18
100
11

572
160

202
52
68

824
179

50
100
50

50
100
10

102
6,662

70
4,762

211
14, 053

25
1,050

10
550

Loans

Surplus

DISTRICT NO. 11—Continued
TEXAS—continued
Clarendon—Farmers State Bank
_
Clifton—Farmers State Bank
Coahoma—First State Bank
Copperas Cove—First State Bank
Corsicana—First State Bank
_
Cross Plains—First State Bank
DallasDallas Bank & Trust Co.
Mercantile Bank & Trust Co. of Texas
Del Rio—Del Rio Bank & Trust Co
_„.
Ferris—Farmers & Merchants State Bank
Forney—Forney State Bank
_
Franklin—First State Bank
Frost—Citizens State Bank
Gatesville—Guaranty Bank & Trust Co
Greenville—Citizens State Bank
_
Hallsville—Farmers State Bank
_
Hamilton—Hamilton Bank & Trust Co
Hedley—Security State Bank
Hillsboro—First State Bank
lola—Iola State Bank
_
Jacksonville—First State Bank
Junction—Junction State Bank
_
Killeen—First State Bank
Kirkland—First State Bank
_
Kosse—First State Bank
Leakey—First State Bank
Loraine—First State Bank
Lorenzo—First State Bank
_
Luling—Lipscomb Bank & Trust Co__Madison ville—Farmers State B ank __
Matador—First State Bank__
--Mathis—First State Bank
McGregor—First State Bank
_._
McKinney—Central State Bank
Memphis—Citizens State Bank__
_
,
Mertens—First State Bank
_
Mount Pleasant—Guaranty Bond State Bank.
Munday—First State Bank__
Murchison—First State Bank
Nacogdoches—Commercial State Bank
Rails—Security State Bank & Trust Co
Richardson—Citizens State Bank
Roaring Springs—First State Bank
Roby—First State Bank
Rochester—First State Bank
Hoyse City—First State Bank
..
Rusk—Farmers & Merchants State Bank & Trust
Co_
San Antonio—City Central Bank and T