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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 Digitized forFor FRASER sale by the Superintendent of Documents, Washington, D. C. 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 Federal reserve bank Boston __ New York— PhiladelphiaCleveland Richmond Atlanta Chicago St. Louis Minneapolis.. Kansas City— Dallas San Francisco Rate in October, Rate in January, (per cent) (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: 1925 1926 1927 1928 1929 1930 Average rate of earnings (per cent): 1925 1926 1927 1928 1929 1930 Earnings: 1925 1926 1927 1928 1929 1930 _ .„ __ _ Bills discounted 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, 056,895 481,515 570, 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 Total— BUILDING 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 $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 36,424,044 7,988,182 OPERATIONS OF FEDERAL 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 -$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 Checks handled: Number of items Amount Currency received and counted: Number of pieces Amount Coin received and counted: Number of pieces Amount Revised. r 1927 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. 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 _ Net decrease _. . _ _ Active member banks at end of 37ear 7,403 33 35 Total State 1,119 18 1930 Total for 1929 8,522 8,837 33 35 18 7 71 24 27 5 5 2 2 3 75 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 3 445 123 563 442 —370 7,033 -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 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 1927 1928 1929 1930 164 259 204 343 473 128 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 On par list Federal reserve district 1930 United States Federal reserve district: Boston New York Philadelphia Cleveland Rip.hmnnri Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 1 Nonmember banks . - Not on par list 1929 1930 1929 1930 1929 8,052 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- Treascurreserve Total tary- ury rency gold bank 2 (adstock credit 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 mem- pendOther Mon- ury Money bank reBills Bills United etary cur- in cir- reber States serve Total ed dis- bought securigold rency cula- serve de- capibank counted stock (adtion posits, tal ties credit bal2 usted) 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 3,840 159 497 1,613 4,448 50 1,102 396 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 3,917 1,690 259 1,377 4,827 660 78 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- NonTreasOther ber mem- Unex. Mon- ury Money bank pendreBills Bills United etaryStates curin cirber ed redisTotal gold rency culadecapicounted bought securibank serve stock (adtion ties credit posits, tal 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 curin cirStates ed ber redis-s " bought securi- serve Total gold rency culacapidet ed count bank stock (adtion serve ties tal bal- posits, credit 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 securities credit 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 Back figures.—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 mem- pended bank ber in cirrency cula- reserve de- capital (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 States reserve (Wednesbank securiday) 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 Total MoneBills Bills United Date tary States reserve dis- bought securi(Wednesbank bank gold 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] Year 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930. Bills and securities held by Federal reserve banks Reserve bank credit outstanding United Bills dis- Bills Other Foreign States securities loans counted bought 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 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 Due Reserve United Foreign from Bills dis- Bills States Other se- loans counted bought securi- curities goldon foreign bank 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 on foreign securi- curities loans 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 - -- . - - 10,562 - 6,228 3,374 684 1,185 - --. Total all other resources --- Total resources 59,783 - - - - 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] Total (all End of month classes) Rediscounted bills Member bank collateral notes ComSecured mercial by U. S. Demand Bankers' Trade Governand agri- and sight accept- acceptcultural 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 renDomesin 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 Bills discounted: 16 to 30 31 to 60 days days 61 to 90 days Over 6 months 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- certificertifli securisecuriment 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. 404 126 187 99 1 104 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 vestTreasother ment Under resale ury U. S. account agreesecuriment certificates ties Outside system investment account Month or In sysTotal period tem investAll 1-day ment Under other Treasaccount resale U. S. ury agree- certifisecuriment 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 other acresale TreasU.S. ury count agreesecuriment certifities cates Date Outside system investment account In sysTotal tem investAll ment Under 1-day other acresale Treasury U.S. count agreesecuriment certificates 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 40 7 2 5 101 8 94 88 87 47 87 87 575 552 564 538 540 86 92 88 90 496 487 423 394 89 88 88 90 389 390 378 365 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 Treasother 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... 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— All other U.S. securities 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 Treasother resale acU. S. ury count agree- certifisecuriment 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 Treasother resale acury U. S. count agree- certifisecuriment 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 _ 45 1 13 2 43 109 205 201 200 199 199 596 591 577 576 576 199 204 200 200 576 606 602 602 200 200 163 200 602 602 610 602 198 198 200 200 199 601 600 602 602 601 200 199 194 194 602 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,r 782,429 14,262,809 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 ; Memnks banks On par Not on; banks On par N o t on banks On par Not — onjib aber On par Not on 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 ' ^ 11,864 8,44' 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 $3,457,889March, 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). 1923. 49, 640 49,640: 831,004 831,004 August, 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. Q77 OA1 41,496 234,859 276, 355 377, 261I 345, 398 March, 1925. 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. 1921. 55,448 449,876 505,324 606,836 434,512 November, 1925. 74,891 409,890 484, 781 549,802 359,461 November, 1923. 70,487 397,938 468,425 644,852 499, 753 April, December, 1925. 325, 353 1,169,871 1,495, 224 1, 676, 344 1,157,280 March, 1921. 10,374 111,819 122,193 161,196 115.131 1920. 59, 707 288,091 347,798 414, 111 311,961 August, 1922. 157,811 178,830 253,832 245,860 February, 21,019 October, 1928. 700, 661 3,218,654 3,919,315 4, 332, 311 2,488,505 December, 282,171 977,985 1, 260,156 1, 715,139 1,667,362 April, 1930.1923. 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, 545 918 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 2,882 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 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 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 3,000; 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 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 1926 46,023 19,012 30,012 53,000 53,000 53, 000 53, 580 49, 580 30, 380 32, 780 32,776 40, 274 39, 266 '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. 3,000 4,000 5,000 1927 1925 ; ' 52,389 6,942 6,942 6,842 19,779 16,599 18,101 19,101 114,101 114,601 114,417 116, 918 125.918 150.919 190,919 199,419 1920 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 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 Philippine Zealand 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; 115,967 201, 455 116, 583 560, 759 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), andFRASER 1925 (Table 102). Forfiguresby months (by countries) see Federal Reserve Bulletin. Digitized for 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 Kan- Dal- San Rich- At- Chi- St. MinBos- New Philanesas del- CleveFranland mond lanta cago Louis apolis ton York phia 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 5 434 4V . .. 4 4i4 41/ 4 4 41/ 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 1926—Jan. 8 Apr. 23.. Aug. 13 5 5 1923-Feb. 23 Mar. 6 1825—Feb. 27 Nov. 10 Nov. 17 Nov. 20 Nov. 23.. 5 . . . 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. 3V£ 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 KanRich- At- Chi- St. MinBos- New Philane- sas Da] del- Cleveland mond lanta cago Louis apolis ton York phia 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 20 June 21 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 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. 1 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 1930—January February. March. April May___ June July.__ August September October-.. November. December 4.01 4.01 3.98 3.94 3. 3.90 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. 1... 8... 1522.. 1930 5 5 494-5 494-5 41/2-4941 3941 Mar. 1__ Mar. 8_Mar. 15. Mar. 22. Mar. 29. Apr. Apr. Apr. Apr. July July July July 394! 396-394 4 394-4 5, 12 19 28—- M a yy 3 . 1 M a y 10 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 2*61 156-2 I 1 2 I 17/ 23,4-3 294-3 3.95 3.88 4.00 4.00 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 3.37 156 156 156 VA 1% 1% 2^4-3 I I i I I 4. 00 ! 394-4 39 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 2.54 ! 2.48 I 2.09 i ! ; i ; j 2.02 I 2.00 j 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% 3.84 3.56 2.97 3.78 3.67 ; 3.83 3.56 ; 2H\ 1% 3 3 294-3 6.00 4.60 4.50 4.50 2%-Z j 3 ! ^i29i! 2*6 New U. S. Treasury notes Treasury s and cer- bonds tificates 3 to months 5.86 ! 4.25 I 4.24 !j 4.06 256i ^1 9j Prime bankers' acceptances, Renewal 90 days 494-5 49., 426-494 494; 4 613. 20. 27. Oct. 4___ Oct. 11.. Oct. 18Oct. 25._ Nov, Nov, Nov, Nov, Nov. Dec. 6— Dec. 13.. Dec. 20_. Dec. 27.. Time loans, 90 days l 256 i 3 - ^ 3 -3J4 3 - Aug. 2 . . Aug. 9-. Aug. 16.. Aug. 23.. Aug. 30.. Sept. Sept. Sept. Sept. 4 j 334-3^; Call loans 2 Average yield on— 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] 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 1919 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 6 i ^®*' Italy 9 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, see2 Federal Reserve Bulletin ior November, 1926, April, 1927. November, 1929, and May, 1930. Revised series; see Federal Reserve Bulletin for July, 1929. figures.—See Annual Report for 1926 (Table 116). Digitized for Back 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 ), 443,448 10; 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, 54316,270,487 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 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 8 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 Loans to brokers and 1 267 305 291 316 (2) 260 230 175 315 246 220 164 300 1 8 • 216 253 240 269 1 11 11 15 dealers in securities I 1 § Loans to customers (exclusive of banks) Open-market loans Secured by Secured by real estate stocks and bonds Purchased paper Total To brokers To outFarm side other cusland New York tomers City 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. ( 52 51 46 Otherwise secured Other and real unseestate cured r Total Investments Total loans U.S. Gov- Other on Accept- Acceptstocks ernStreet ances ances, Com- loans ' Total ment securi- and 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 CapiNet tal, surUnited demand Net plus, Total Demand Time States Due to 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 18,119 17,394 CO RESOURCES AND LIABILITIES ON CALL DATES, 1914-1930 [In millions of dollars] Reserve Bills paywith Federal able and reserve redisbanks counts 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 1920 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 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 1921 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] 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. 1924 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 Time banks demand 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 ji 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 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 BorrowGovern- ings at ment de- Federal reserve posits banks 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 651 569 471 374 606 530 447 354 From private banks, foreign banking agencies, etc. Back figures.—See Annual Report for 1927 (Table 47) for figures for 1918-1922; figures for 1923-1925 not Digitized foravailable. FRASER 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] Call date 1928— Oct Dec 31 1929—Mar 27 June 29 Oct 4 D e c . 31 - - . . . 1930—Mar. 27 June 30 Sept 24 Dec. 31 _._ TotalAll member banks Member banks in New York Cityi 1,899 2,556 880 1,639 1,879 2,025 1,885 1,660 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 in All mem- banks 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 '98 621 513 485 448 357 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 State banks— 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 -. Total Nonmember banks: 1921 1922 . 1923 1924 1925 1926. 1927 . 1928.. 1929 1930.. . Total 70 57 124 159 146 160 124 73 81 187 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 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 nnn1,711,718,000 682 257 431 297 524 617 466 796 538 418 561 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 of— 1922 1921 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 Total 1923 295 151 49 91 32 16 1924 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 31 117 85 39 53 24 15 21 14 5 3 16 8 501 354 648 776 612 956 662 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 2 125 57 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 Total 2 3 7 5 1 1 4 5 1 1 1 11 2 14 4 3 9 4 10 12 2 19 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 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 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 7 431 297 524 617 466 796 538 418 561 295 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 of— 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. 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 Net decrease for the year__ Active member banks, end of year 1927 1928 1930 1929 9,489 9,260 9,034 8,837 8,522 174 125 154 101 115 120 93 176 49 53 3 -5 127 185 3-58 278 279 192 257 229 226 197 315 470 9,260 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 Active member banks, first of year Total _ 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 State National 1929 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 $100 per $1 of per of earnj 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. 23 For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828. 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 bor- and On de- On rowed wages 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 26.1 67.9 | 25.2 OO ft i 87.6 33.1 38.9 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 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 olis 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 Boston New York Philadelphia. _ Cleveland Richmond. Atlanta Chicago St. Louis .- -_ Minneapolis Kansas City _. Dallas San Francisco. Total Commercial and Demand Bankers' agricul- and sight accepttural drafts ances paper, n. e. s. 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 98,163 Trade acceptances Paper secured by U. S. Government obligations 147 210 303 200 102 287 59 61 23 68 11 8 Member banks' collateral Collateral notes notes secured otherby U. S. wise Govern- secured ment obligations 21 6 5,880 24,441 10,271 20,875 3,168 343 10, 882 4,865 347 1,286 744 5,887 1,413 449 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 _. . Total Back fgun.—See Total 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, 398 175, 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 disreUnder cash securi- c o u n t e d B o u g h t Under serves Bought 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 disre-| Under cash counted Bought Under serves ! Bought resale outresale out- agreeTotal right ment right agreement 506,319 131,177 70, 626 444,361 89, 655 427, 219 377,006j 65,104 383,373! 387, 589) 403,023! 365,148! 54, 720j 79, 298! 88, 7871 58,404 j 53,405 98,931 45,461 105, ""',243 35, 737 81, 527 31, 510 62,192 206,991 210,801 210,800 210,800! 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 4, 750| 963,916 1.L, 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 " , 199 3 101 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, 006, 014 192,863 2,305) 996,209 1, 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 in Mem- Other notes ber bank de- circulareserve posits tion balances 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, 1 014,177 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 492 1, 035, 747 179,945 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 JS 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 :, 088,348 14,096 l! 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"6 101,574 217, 064 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 jl, 018,9971.L, 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 2181 "^ , 015,309 , 023,019 , 024, [, 8871; .,121,, 262 ,1 046,171 ,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, 559,1 026,356 1,000,279 , 103,997 1, 090, 6271,074,3861 ,059,499 1,035,836 , 138,423 1 !, 664 ,1 046,887 1,033,202 ,133, 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 Memcirculaber bank Other tion dereserve balances posits 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 disreand Under cash serves securi- counted Bought Under Bought resale out- resald out- agreeties i agreeright ment right ment Deposits Total Federal reserve in Mem- Other notes 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 ! reand dis- I Under cash serves Bought securi- counted Bought Under resale 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 Memcirculaber bank Other tion dereserve balances posits 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 resale ties i ! out- resale out- agree! right agreement right 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 Memcirculaber bank Other detion reserve posits 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 disUnder Bought "™* securi- counted Bought Under resale ties i out- I agreeout- resale «„+. right agreement right ment Deposits Total i Federal reserve in Mem- Other notes 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 disreUnder cash counted Bought Under serves Bought resale resale outI OUtagreeagreei 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 Memcirculaber bank Other detion reserve posits balances 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 5,898 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 reserves securi- counted Bought Under Bought Under resale outties i outagreeright agreement right ment Deposits 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 j59, 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 — . Federal I reserve notes in Memcirculaber bank Other detion reserve posits balances 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 out- agreeright agreement right 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 disreUnder cash securi- counted Bought Under serves Bought resale outresale ties outagreeright agreement right 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 1 259 870 029 601 Federal reserve notes in Mern circulaber bank Other tion dereserve balances posits 454 302 242 611 39, 623 37, 559 36, 706 35,325 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 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 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 redis! and Under cash serves Bought I securi- counted Bought Under resale outoutI ties agree-| right m e n t [ right 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 -i 68,064 | 8,888 19,590 ] 2,S?.l -| 65,943 ! 8,518 17,775 ! 2.955 -i 70,634 12,15f 16,506 I 5.274 -! 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 | j154,194 173,853 178,887 173,099 174,433 170,290 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 12,149 201.724 189,575 190,594 183, 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 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 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 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 Balance fund With- Depos- in at close drawof busiits als ness Dec. 31 Payments Pay- Boston New York Philadelphia Interreserve bank transfers 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 i1 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 ; _ 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 \ 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 ! I I j | \ \ : I j ! J 666 364 948 Nonmember banks | Nonmember banks 1 Member banks On par ! Not on | Not on list I par list 1 | par list 1 388 234 544 273 172 J i - 55 57 46 177 14 67 1930 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 See note on p. 161. Digitized for iFRASER 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 ! 1 See note on p . 161. 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 28, 971, 612 Franchise Profit (+) tax paid to or loss (—) U. S. Govcarried l ernment $3, 294, 713 714, 988 4,009, 701 116,472 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 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 3,901,261 268, 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, 054,328 361, 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 13, 296, 778 forward -$55, 774 +150, 571 +37, 514 -132,311 151, 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 23,709,132 134,478,670 | 77,455.283 Transferred to surplus l 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 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 -72,412 -10,120 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 „ _ „ $86,833 297,948 773,106 2,676,828 -$97,169 +109,917 +217,590 -230,338 $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 ! -. Total ; ! 41,654,421 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 | 211,657 ! 213,774 212,733 195,871 I 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 | 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 _.| 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 37,500 37,500 I 1,377,744 j 2,153,757 • 3,410,948 j 488,530 i 4,469 ! 11,272 1924.. 1925.. 1926.. 1927.. 1928.. 1929.. 1930.. 1 Franchise Profit (+) tax paid to or loss (—) U. S. Govcarried ernment i forward -$97,169 141,017 502,156 1,777,810 i i 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 2,918,340 j 3,845,794 7,643,902 8, 701, 661 -32,341 +76,883 -44,542 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 1919 Total $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 ! 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 2,157,964 1,813,626 2,127,049 1,741,922 2,119,666 2,496,030 1.585,113 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 CleveNew York i Philadel-1 phia ! 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 6,383,78e| 1,861,172; 2,479,2681 1,421,225; 1,292,312113.3,384,902 1,292,809; 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, 373 682,946 262,510 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 o W 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 11 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. NonMem- J memAll 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 Digitized forcompanies, FRASERmutual 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. 1,4409 ; I 1,2391 ___| 1,4448 ! 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 11 530 529 536 530 582 646 650 643 636 622 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 11 362 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!1 312.5! 250.1 245.6 Vermont 219.8 227.2 227.9| 235.51 239.3 251.1 254. 0 256.6; 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 |l 409.1 408.4 376.5 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^ 147. 6! 130.2 144.1 150.6 129. 3^ 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 A-\e\ Q | 1,464.8! I ADA o l 1,535.8 •» KOK O 1, 1 aiXl A\ 1,650.1 1 fiKrt 1 1,654.2 1 UKA O 1,633.7 1 COO 1 1,566.5 1 KCa K 607.4! New Jersey 1,232.9| 1,315.6 -I1, 412.81 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 .,__ 1,330.7 , 1,424.3i 1,455.7 1,515.1 1,514.1 1,452.9 Michigan : 1,177.3 1,248.0 1,279.71. _1,328.41 ; 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! 2,436, 708 11.687,125! 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 United | demand with Net NumTime I States Total Demand! j Due to Fed- payable plus eral demand ber of deand dedeposits posits de- |! Ui4BKS banks 6" deposits re* ! posits s ! Ji?:+ time banks redispositse ! serve 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 .l!342,065! 758, 742j 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 " 692 -i 7,494,010 5,066,154 2, 427,856 1,228,164 1, 199, 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 1439, 940 8,471,246 5, 544,211 2, 927,035 jl, 366, 791 l| 560, 244 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 j Due surplus, Demand! Time and Total from de| deundideposits posits 2 banks * I posits 6 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 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, 644 63,493.1, 799, 687 7, 612, 549 10, 757,983 — "••• 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! 721, 250 1,252.1411 3, 82,747 1,451.013 7,003,104 10, 255, 245 897.455! 255,340 29 388 2, 297, 2 605, 0 77412, 7 7 ! 2 507,151 0 7 1 5 7,,721. !, 004 !3, , 196,141 26, 219 1, 796^ 187 7,830, 361 11,026,502 984, 256! 257,911 294,98912, 658, 308; 13, 606, 551 8, 588, 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 d t-1 d O Ed 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 1,897, 466 985,701 679,593! 33,448, 198, T24 1L, 033, 544 1,987,313 ,030,686 l 705,706} 20,906! 280, 015 1L, 080,153 2,110,591 1,063, 780| 742,770| 42,937 261, 1041:, 135,386 2,137, 279 "1. —S, Q75t 774,356 25, 549 243, 399 1:, 154,183 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 1,189,753 778,883 789,283 774,288 779,256 279,312 281,681 269,162 262,763 499,571 108,467! 387,467 1,841,9321[,027,471! 507,602 97, 850! 390,655 1,842,476 1 ,018,886! 505,126 97,357! 398,264 1,861,07011,026,379! 516,493 113,505; 400,928 1,940,i, 235 1. 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,L 254 1',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' 748,818 601,140 624, 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 11,171, 097 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 94,311 777 776 771 764 105,969 657,887 131,774 655,023 161,814! 660, 545 148,079! 651,161 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,L, 136, 032 218,329 1,L, 171,732 200,434 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! 145,098 759 756 755 753 98,940 113,037 107,137 118,092 48, 705 44,961 26,856 40, 774 M P^ » w O 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, i : Due surplus, and Total I Demand Time i from dedeposits i deundi2 banks i posits * posits s Other vided securiprofits J ties States deposits Net demand Net Due to 1demand 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 ., 9, 267! 279, 228 1 534, 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 .,1, 645, 637; 12,773 275, 075 — 1,553,7121 ., 642, 632 24,153 236, 562 1, 490,257 ,497, 765 1 3,401, 3,386, 308 1, 465, 567 1, 670, 439 30, 8331 219, 469 1.L, 504, 034 3,402, 038 1.., 479, 422 1, 677,186 33, 222 212,i, 208 1 ., 504, 025 3,394,71 1, 490, 884 1, 639, 075 34, 330 230,l, 428 1 L, 529, 640 1, 620, 642 222, 13,814 3,376, 486 '" 1., 519, 271 7591'., 511, 793 3,394,247 1,435,i, 149 1 ., 679, 379 25,113! 254,:, 606 11,506,413 ., 483,!, 483 1., 673, 804 24, 496| 321,, 770 1I, 573, 536 3. 503, 553 1 ., 409,291 1, 724, 543 25, 525! 402, 440 1I, 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; 289! 169,795 963, 811! 170,178 926, 901, 050! 173, 278 168,988!! 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 demand I States I D u e to demand j 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 , j 323,115i 474, 862! 551,040 551040 306,254' 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 demand plus 6 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 -i 1,182,971 _! 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: 618 621 622 624 628 627 625 624 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[• 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; o 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: 1 Q OOftl "413, 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 United States I 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 984 972 972 968 961 945 941 932 919 912 902 893 no 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, 502 765 766 761 746 233,998 241,207 235,765 233,608 ! 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 5,958 722 719 716 684 626, 007 610,934 593,913 573,135i 1 W o $ 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, S, 265) 820,110 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 22,007 275, 002 189, 796' 313,857' 2,485,894,1, 239,1,279 11, 024,132' 25, 643 276,105 213,363 312, 6441 2,530,478,1, 209,I, 388 1L, 093, 320! 12,243 290,553 321, 506; 323,4601 2,710,6511, 266, 2411;L, 122,197} 29,017 1, 202, 9111 18,441 315, 760 274, 380 318, 247j 2, 789,156J1, 289,I, 381 L 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, 307, 324 26,407 330,903 240,799; 324, 4411 2, 851, 55911, 2 6 9 /390 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. Netdile- Tr ii m e 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 Philadel- Cleve-! Rich- AtBoston York phia land i mond lanta 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 May June July August i ! ! i September October. November December 1930 January February March April 84.7 j 41.0 76.0 i 43.4 96.6 | 52.6 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 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 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 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 j8.8 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 I14.0 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 (22) () 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 24 i 24 i 1,149 1,115 1,107 1,059 1,053 30 22 ! 27 1 989 (2) (2) 32 33 27 i (2) 11 1 324 312 127 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 1,028 513 495 522 508 494 467 427 458 457 492 497 561 824 1 801 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 22 16 19 17 K 7 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 13 24 28 19 1 1 i i 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) (2) (2) (2) 7 7 1 28 24 20 28 (2) 8 |l 3,133 3,192 3,127 3,109 3,116 ! 3,246 : (2) (2) 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. 3"j10, 426.0 10,444. eill, 004. 6! 10,494. 8jll, 075. 2;10,832.1 New York 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! 1,459.8! 1,447.5! 1,447.5 1,432. Michigan _..; 1,459. 21 1,472.3 1,495. 7i 1,513.2 1,534.3! 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 133. 9j 130. 9| 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 .. . 3,158 2,493 2,471 2,275 2,242 3,097 3,113 3,262 2,233 3 \ 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 of dollars] 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 25 288 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 4,S ! 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 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 3,358 676 666 665 666 675 660 667 668 665 655 648 643 368 368 369 365 371 364 364 658 655 657 656 653 650 662 ! | 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 PhilaCleve- Rich- AtHAI York ! Q61- land mond lanta ! phia Chicago Min KanSt. nesas Louis apolis 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 RichNew PhilaAtdel- CleveYork 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 PhilaCleve- Rich- At- Chica- St. delnesas Louis apolis go York phia land mond lanta City 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 1929. Digitized forJanuary, FRASER 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- Kanich- Atlan- Chica- St. neapCleve- i Richsas Louis olis City ond ta go 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. Dallas San Francisco 601 602 602 606 607 605 610 611 154 153 154 155 154 155 156 155 155 152 162 156 162 159 158 159 157 157 161 162 164 164 162 176 177 180 177 176 179 182 185 183 184 186 186 183 193 191 191 187 191 193 190 188 189 188 186 185 182 184 183 179 124 125 124 124 125 124 123 124 122 122 129 126 129 130 130 129 129 131 130 131 138 132 131 136 136 135 134 135 135 135 136 135 138 137 137 139 152 151 150 150 150 149 149 146 145 144 144 141 144 153 151 140 662 660 657 658 649 646 649 648 659 656 644 650 655 662 667 670 670 670 678 675 670 680 689 697 709 731 722 745 738 744 760 773 799 791 793 787 769 780 794 787 797 810 812 807 834 835 848 853 863 897 884 868 149 148 149 150 150 149 149 149 148 150 154 154 153 154 153 153 155 156 160 182 204 177 161 157 155 152 155 154 155 152 153 154 157 157 156 159 158 159 160 160 161 165 165 164 166 162 166 166 166 163 166 167 116 116 116 116 114 116 116 116 117 116 117 117 120 119 118 118 110 113 116 118 119 123 122 122 122 125 126 124 125 124 124 121 121 121 126 127 125 127 130 130 130 129 130 129 126 127 131 131 132 131 131 131 213 213 211 211 214 212 213 213 212 214 208 208 209 215 216 221 217 217 219 218 218 220 219 218 217 220 220 220 222 222 222 220 227 229 233 236 238 238 239 242 246 249 250 249 250 246 245 244 244 241 242 253 104 104 104 104 104 105 106 106 106 106 115 113 113 113 111 110 111 110 109 110 109 109 109 114 115 113 112 110 110 109 108 108 107 107 105 105 115 115 116 117 118 118 118 118 117 118 117 116 114 122 120 115 570 572 570 571 571 569 573 571 562 582 605 602 607 612 613 61& 622 618 615 615 616 61& 616 621 621 615 616627 616 613 619 619 624 622 621 623 623 633 633 63g 636 644 651 637 649 652 662 664 662 671 660 634 603 608 623 649 653 687 755 778 793 791 760 741 154 155 156 159 161 170 179 185 188 191 188 183 124 124 125 130 132 134 135 136 145 149 145 146 ! 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.. Rich- AtNew Philadel- CleveYork 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 Philadel- CleveYork 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- KanRich- Atlan- Chica- St. New- Philasas nedel- CleveLouis apolis land mond ta York phia go City 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 3 3 3 2 15 13 13 4 3 5 4 2 3 3 2 8 2 2 3 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 5 4 3 27 38 22 5 4 4 2 3 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 3 6 4 6 4 4 3 3 3 7 7 7 3 3 3 2 2 4 1 1 5 4 2 16 13 9 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 4 3 1 2 3 2 2 1 1 2 1 1 2 3 9 42 5 3 5 3 4 36 11 16 33 1 1 1 1 3 1 1 1 1 2 3 3 3 2 2 8 11 13 4 5 6 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 7 2 3 2 1 1 1 1 1 5 5 7 12 9 7 8 14 15 8 10 7 6 10 6 10 5 3 3 2 2 2 6 5 2 1 It 1 1 2 1C 2 4 3 4 4 4 3 4 2 2 2 2 1 1 44 49 11 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 22 14 16 4 4 6 4 8 2 a 4 1 15 12 9 7 5 2 4 3 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 2 1 3 3 1 5 1 2 2 3 5 5 7 14 8 2 3 ] 2 1 2 2 1 3 18 17 15 16 12 14 17 1( 3 3 12 14 16 20 8 40 1 ] 1 J 2 4 2 3 2 13 5 2 2 ] t 1 2 4 4 3 1 1 5 3 6 5 3 5 4 4 5 5 5 5 3 3 3 I I 2 3 2 3 3 4 5 4 5 4 3 2 2 2 2 2 1( i 1 1 10 14 15 6 6 2 1 2 2" 3 3 2 2 2 1 6 10 16 2 2 3 8 2 1 1 2 1 1 1 1 3 3 11 10 15 18 16 25 29 19 12 10 13 21 37 38 89 17 San Francisco 21 14 12 13 2 4 1 4 4 5 5 7 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 ^:,_ L oms ! 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 __ ._ _ - 52 45 50 61 54 61 67 66 73 86 113 87 Rich- AtNew Philadel- CleveYork phia land mond lanta 162 148 161 154 136 151 154 129 147 178 172 139 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 neapoCity 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 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 Capital 2 Number Deposits 2 21 $6,802,000 $61, 599,000 4, 867,000 2 12 16 27 52 7 25 4 1 667,000 907,000 1,730,000 2, 249,000 270,000 699,000 115,000 15,000 150,666 1,344,000 5,416,000 4, 534,000 17, 271,000 16,140,000 2,851,000 7, 824,000 1,094,000 258,000 380,440,000 852,000 162,437,000 352,000 10,940,000 21, 584,000 31,883,000 26, 666,000 96,024,000 3, 515,000 7,912,000 12,158,000 6,117,000 7 450,000 3, 538,000 1 2 2 1 25,000 50,000 190,000 85,000 100,000 397,000 133,000 1,439,000 559,000 1,010,000 173, 290,000 852,000 1,158,000 352,000 10,423,000 21, 012,000 30,511,000 21,241,000 59,458, 000 3,134, 000 7, 912, 000 12,136, 000 5,101, 000 5 310,000 1,872,000 100,000 230,000 150,000 800,000 2, 670,000 3,030,000 2, 770,000 6, 795, 000 420,000 795, 000 1, 390, 000 525,000 1 1 1 2 50,000 150,000 85, 000 25.666 397,000 133,000 783,000 559,000 26~ 30, 735, 000 207,150,000 2 140.000 1, 666, 000 2 25, 350, 000 161, 279, 000 I 1 I1 50, 000 100, 000 270, 000 500, 000 4,190, 000 25,000 572, 000 1,372,000 5, 425, 000 36, 566, 000 381,000 1 2 225,000 1,016,000 61, 233, 000 484, 275, 000 2 190 000 2, 908, 000 6, 455, 000 3,050, 000 6,863,000 7,102, 000 11,818, 000 12, 606, 000 3, 012, 000 2, 967, 000 716. 000 1, 546, 000 35,306 000 24,862,000 43, 069, 000 30, 926,000 64, 056,000 59, 268, 000 84, 613, 000 86, 212, 000 20, 594,000 21, 014, 000 4, 327, 000 10,028,000 147 50,410,000 100,000 25, 580,000 150,000 850,000 2, 770,000 3,300,000 3, 270,000 10, 985,000 445,000 795,000 1,415,000 750,000 19, 675,000 I _. Deposits 1,345 i$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 2,296,000 187 ,. Capital i 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 7,405,000 183,600,000 2, 566,000 51, 607, 000 25 90 126 21 24 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 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, 000 147 2 $6,802,000 1,599,000 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: 1926 1927 1928 1929 1930 New York: 1926 1927 1928 1929 Net Net adDiviTotal I Gross losses Total to dends net charged dition earnings expenses earnings profits declared 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 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.FRASER 883-884; 1929—December, pp. 872-873. Digitized for 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 1,540 1,846 1,924 2, 231 2,418 2,961 2,168 1,863 2,460 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 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] 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. rial Common stocks (1926=100)3 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 92 107 108 82 90 104 96 100 101 99 97 101 88 16 29 35 55 68 83 92 105 102 102 102 103 104 107 109 111 110 112 113 114 113 115 114 112 111 108 109 107 104 98 90 117 115 115 114 112 111 109 108 105 102 97 90 117 84 81 87 76 88 95 96 99 103 103 94 82 Adjusted 75 72 71 73 80 83 90 91 102 99 86 82 Unadjusted 97 91 91 90 91 93 96 101 105 102 107 114 Adjusted 108 103 102 102 103 104 107 108 109 108 111 114 DepartmentMerchan- store sales dise in less than car lots Unadjusted 84 91 79 87 100 97 103 106 103 103 106 92 Adjusted Total 98 118 77 81 103 96 101 104 102 102 108 87 Adjusted Adjusted 77 89 70 74 105 96 99 108 107 106 115 99 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 99 102 100 96 94 91 93 95 99 100 99 101 91 96 101 101 101 97 96 98 104 104 103 103 102 101 103 102 100 102 106 102 102 105 107 95 101 105 105 106 104 103 105 111 109 109 101 104 103 105 105 105 107 107 107 108 108 109 108 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 91 93. 05 100 08 101 08 101 100 101 100 99 98 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- Au- Leather Nonfer- Petro- RubFood Paper and torous leum and print- morefin- ber ing 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 89 109 79 78 108 93 99 110 99 96 102 88 109 110 112 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 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 ucts i glass AutoI 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 and print- ber 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 <iom- Farm Foods and Metals Build- Chem- Housemodi- prodand tile light- and ucts ing icals fur- Misties Total leather prod- ing metal mate- and nish- cellaproding prodmate- ucts rials drugs 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 >n Aug. 26, 1930, and this necessitated changes. Before Mr. Wetmore's death Mr. McKinney was vice 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 EL R. 7966 begs to report that it is opposed to most of the provisions )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 Digitized forReserve FRASERAcb (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 2used 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. 236 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. 238 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, andFRASER (6) the staple itself easy to realize upon by sale at any time. Digitized for 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 240 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. 242 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 the semiweekly, weekly, or semimonthly period are deficient. Digitized forforFRASER 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. 244 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 will make special rulings. Digitized forBoard FRASER 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. 246 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—17 248 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 250 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 252 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. 254 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 256 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. 258 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 260 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 th3r name of the member bank surrendering it a new certificate for the number oi 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. KEGULATIONS OF THE FEDERAL RESERVE BOARD 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. 262 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 18 264 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; 266 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 goods, and (2) drafts and bills of exchange which are drawn by banks or bankers Digitized forofFRASER 268 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. 270 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; 272 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 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, 215.59 440. 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 9,922.19 30.59 4, 805. 73 90.56 4, 734.08 797. 86 6, 589.22 103.11 4, 226.05 32.55 11.89 4,606.85 61.46 208.88 114.78 296. 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 : .. . Harrisburg, Pa Johnstown, Pa Philadelphia, Pa 1930 1931 1932 Camden, N . J . . . Philadelphia, Pa do 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, VJ» Ga. ueuaim, 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 DETROIT Chicago, 111 Waukesha, W i s . . . . Storm Lake, Iowa.. 1930 1931 1932 Milwaukee, Wis_. Detroit, Mich Fort Wayne, Ind. 1930 1931 1932 Chicago, 111.. Muncie, Ind. Chicago, 111.. 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. Peden Fred Catterall Guy M. Bryan R. M. Farrar N. E. 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 Total Annual salaries 1929 1930 1929 1 1 19 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 48,260 891 914 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. "I 1 1 31 1 1 30 $20,000 25,000 184,940 $20,000 25,000 181,800 364.4 6.9 10 8.7 373.1 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 691 27 7 13 768 1 1 29 $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 | (See also District No. 5) | Sistersville—First Tyler Bank & Trust Co Wheeling— Security Trust Co -..j Wheeling Bank & Trust Co DISTRICT NO. 5 | I j 3,100 5,007 8,148 4,076 36,780 3,914 114,468 868 1,965 1,000 1,000 3,000 1,700 15,000 '- 900 61,500 I 600 550 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 ! ! II ! 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 Farragut—Commercial Sayings Bank Fort Madison—Fort Madison Savings Bank Gilbert—Gilbert Savings Bank 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 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 13 776 1,094 1,259 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 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 <fc Savings Bank. 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 1l oH 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