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OPERATION OF

Federal Reserve Bank
of Kansas City




1922

EIGHTH ANNUAL REPORT
TO THE

FEDERAL RESERVE BOARD

ANNUAL REPORT
of the

Federal Reserve Agent
of the

Tenth Federal Reserve District
to the

Federal Reserve Board

COVERING THE CALENDAR YEAR

1922
ASA E. RAMSAY

Chairman and Federal Reserve Agent




LETTER OF TRANSMITTAL
February 12th, 1923.
Sir:
I have the honor to transmit herewith the eighth annual report
of the Federal Reserve Bank of Kansas City covering the year 1922.
Respectfully yours.
ASA E. RAMSAY,

Chairman and Federal Reserve Agent
HON. EDMUND PLATT, ACTING-GOVERNOR,

Federal Reserve Board,
Washington, D. C.




DIRECTORS AND OFFICERS
OF THE

FEDERAL RESERVE BANK OF KANSAS CITY
FOR

1923

DIRECTORS
CLASS A
E. E. MULLANEY, (1923), Hill City, Kan.
J. C. MITCHELL (1924), Denver, Colo.
FRANK W. SPONABLE (1925), Paola, Kan.

CLASS B
H. W. GIBSON (1923), Muskogee, Okla.
THOMAS C. BYRNE (1924), Omaha, Neb.
M. L. MCCLURE (1925), Kansas City, Mo.

CLASS C
ASA E. RAMSAY (1923), Chairman, Kansas City, Mo.
H E B E R HORD (1924), Central City, Neb.
FRED O. ROOF (1925), Denver, Colo.
M E M B E R ADVISORY COUNCIL
E. F . SWINNEY, Kansas City, Mo.
OFFICERS
ASA E. RAMSAY, Chairman Board of Directors and
W. J . BAILEY, Governor
Federal Reserve Agent.
C. A. WORTHINGTON, Deputy Governor
HEBER HORD, Deputy Chairman
J . W. HELM, Cashier
C. K. BOARDMAN, Assistant Federal Reserve Agent
JOHN PHILLIPS, JR., Assistant Cashier
and Secretary
B. P. TYNER, Assistant Cashier
S. A. WARDELL, Auditor
G. E. BARLEY, Assistant Cashier
A. E. BOLT, Assistant Auditor
M. W. E. PARK, Assistant Cashier
T. GORDON SANDERS, Assistant Auditor
A. G. FROST, Assistant Cashier
H. H. RHODES, Assistant Auditor
A. M. MCADAMS, Assistant Cashier
JAMES E. GOODRICH, Counsel
G. H. PIPKIN, Assistant Cashier

OMAHA BRANCH
DIRECTORS AND OFFICERS
WM. J . COAD, Omaha
P. L. HALL, Lincoln
G. A. GREGORY, Cashier
W. D. LOWER, Assistant Cashier

GEO. E. ABBOTT, Cheyenne
R. O. MARNELL, Nebraska City
L. H. EARHART, Omaha
L. H. EARHART, Manager
WM. PHILLIPS. Assistant Cashier
JUDD W. JONES, Branch Auditor

DENVER BRANCH
DIRECTORS AND OFFICERS
A. C. FOSTER, Denver
C. C. PARKS, Denver
J O H N EVANS, Denver

ALVA B. ADAMS, Pueblo
C. A. BURKHARDT, Denver

C. A. BURKHARDT, Manager
J. E. OLSON, Cashier
R. W. SMITH, Branch Auditor
ALBERT J . CONWAY, Assistant Cashier

OKLAHOMA CITY BRANCH
DIRECTORS AND OFFICERS
WM. M E E , Oklahoma City
DORSET CARTER, Oklahoma City
E. K. THURMOND, Oklahoma City
T. P. MARTIN, J R . , Oklahoma City
C. E. DANIEL, Oklahoma City
C. E. DANIEL, Manager
R. O. WUNDERLICH, Cashier
O. A. LEAMON, Branch Auditor
R. L. MATHES, Assistant Cashier




OPERATIONS OF THE

FEDERAL RESERVE BANK
OF KANSAS CITY
IN 1922
GENERAL BUSINESS CONDITIONS

""THE year 1922 brought a revival of business in the Tenth Federal
• • Reserve District. Marked improvement began early in the
*
spring with an upward turn in prices of farm products and live
stock. Progress during the summer and early autumn was slow,
due in part to the strikes of coal miners and railroad shopmen,
and in part to interference of traffic by freight car shortage. Gains,
however, were recorded each month, and the year closed with the
industries of the District functioning at a high rate and general
conditions fundamentally sounder than for many months past.
The trend of activities during the year was reflected month by
month in the statistical reports, based on actual business experience, published in the Monthly Review issued by the Federal
Reserve Bank of Kansas City for the information of Member banks
and business interests of this District. In view of this widely disseminated information covering business conditions, it is not deemed
necessary to present in this report more than a brief reference to
the year's operations in the basic industries of the District.
Although a large portion of the Great Plains and Southwest
areas was affected by a prolonged season of dry weather during the
summer and early autumn, the 1922 yield of agricultural products
was above the average for ten years. The returns show a farm
value of all crops in the State of Missouri, Kansas, Nebraska, Oklahoma, Colorado, Wyoming and New Mexico, aggregating $1,212,304,000,—an increase of $312,647,000 over 1921.
Drought conditions in the Southwest also affected the live stock
industry, resulting in an abnormally heavy movement of stock from
farms and ranges, in regions affected, to the live stock markets,
there to be distributed throughout the regions where stock feed
was abundant. A.t the end of the year more cattle were on feed
in the "corn belt" of Missouri, Kansas, Nebraska and Iowa than




at any previous time in history, the number of hogs had been increased, sheep on feed were in good supply, and with prices relatively higher the live stock industry was in much better condition
than one year ago.
New wealth created by the agricultural and live stock industries
stimulated trade and industry. The volume of merchandise distributed by wholesalers and jobbers increased steadily to the end
of the year, and retailers reported the most satisfactory year's
trade since the World War from the standpoint of sound and
stabilized business. Automobile sales far exceeded those of the
previous year, and sales of implements and farm equipment in the
latter months of the year were more than double those of the
previous year.
The year-end reports reflected increased production of zinc and
lead ores in the Missouri-Kansas-Oklahoma district, and, due to
greatly increased prices, the value of the year's output was two and
one-half times that of 1921. Encouraged by high prices of silver,
zinc and other minerals, the production of the metal mines of Colorado was greatly increased during the year. Coal mining, although
curtailed by the strike of miners from April 1st to the middle of
September, was at a high per cent of operating capacity in the late
months of the year and the urgent demands for coal were supplied.
The output of crude oil from the various fields in Missouri,
Kansas, Wyoming and Colorado, was approximately 206,000,000
barrels for the twelve months of 1922,—one-fifth more than in 1921
and the largest year's record.
A high record for building activity was established in the year
1922 and progress was made in relieving the housing situation. It
was also a year of construction of highways and municipal improvements.
There was a continued demand for labor during the year, with
shortages reported in many localities, and the element of unemployment was practically eliminated.
MOVEMENT OF PRINCIPAL ASSETS AND LIABILITIES

The movement of principal asset and liability items as reported
on weekly statements during 1922 is shown in Schedule No. 2.
As seen from this schedule, the amount of total earning assets was
held fairly uniform through increases made in investments in
United States securities. An average of the total earning assets
as reported, however, was only $68,270,700, compared with an
average of $102,485,000 for 1921, and $133,230,000 for 1920.
The most noticeable change in the statements of the bank was
the decrease in the bank's holdings of bills discounted for member
banks, which, on January 4th were $69,569,000, and on August 23rd




only $16,887,000. The extent of this liquidation can better be
realized by comparing the figures for the low point, August 23rd,
1922—$16,887,000—with the high point reported on the statement
of November 5th, 1920—$161,072,000. Between the latter dates
discounted bills for member banks secured by U. S. Government
obligations decreased from $48,971,000 to $1,080,000.
During the latter part of the year borrowings of member banks
increased, and on December 27th, bills discounted amounted to
$30,436,000, of which $9,767,000 was secured by U. S. Government
obligations.
The amount of bills bought in open market, shown on January
4th, 1922, as $1,096,000, was gradually reduced and in July these
bills were entirely liquidated. Purchases during the latter six
months were very small, and the closing statement of the year
showed only $402,000 on hand.
At the beginning of the year U. S. securities held amounted to
$14,257,000, and that amount had remained practically unchanged
during the last three months of 1921, prior to which time there had
been a steady decline from the high point of $29,648,000 reported
in statement of January 16th, 1920. As loans and discounts decreased, investments were made in U. S. securities in order that earning assets could be maintained at an amount that would insure
payment of operating expenses. During midsummer more than
$45,000,000 was invested in U. S. securities, and in the last statement of the year, $40,886,000.
The cash reserve increased during the year, and total deposits
increased in an almost corresponding amount. In considering the
strong reserve position it may be of interest to note that the circulation of Federal Reserve notes increased about $4,000,000, and
earning assets decreased over $13,000,000, and on Dec. 27th,
Federal Reserve notes outstanding amounted to $72,230,000, earning assets $71,724,000. The cash reserve on that date was in excess
of deposits, cash reserve being $89,799,000, and deposits $84,555,000.
DISCOUNT AND INVESTMENT TRANSACTIONS

There has been a material reduction in the volume of loans handled at the head office and branches, but the decrease in the number
of items handled was not in proportion to the decrease in the
amount represented. During the year 733 banks of a total membership of 1,152 were accommodated with loans aggregating $328,019,000, as against accommodations extended in 1921,-920 banks
of a total membership of 1,103, aggregating $944,074,000 The number of notes discounted, however, was 70,249, compared with
110,067 for the year 1921. The average amount of paper under
discount was $29,875,000 compared with an average of $84,660,000
for 1921 and $124,268,000 for 1920.




Bankers acceptances purchased in open market totaled $1,849,000 against $5,558,000 for 1921. The total of U. S. securities purchased during 1922 was $85,122,000; the amount of sales and redemptions $60,187,000; whereas, in 1921 purchases amounted to
only $9,949,000 and sales and redemptions to $17,384,000. The
average holdings of U. S. securities for the year were $38,247,000,
compared with average holdings of $17,728,000 for 1921.
At the close of 1921 the discount rate on member bank notes and
rediscounts of all maturities was 5 per cent. Effective August 12th,
this rate was reduced to 4 ^ per cent, and U. S. Government war
obligations were accepted as collateral on a basis of par. There
were no other changes in discount rates.
Schedule No. 3 gives the volume of discount and open market
operations, and Schedule No. 4 the volume of bills discounted for
member banks in each state.
FEDERAL RESERVE NOTES

From a comparison of the schedules of the circulation of Federal
Reserve notes in the last four Annual Reports, it is noted that the
contraction and expansion of this currency was not uniform during
the same seasons of the different years. In 1919 the contraction
set in immediately following the first of the year, when the amount
of Federal Reserve notes in actual circulation was reported as
$112,047,000, and continued until August, from which time on the
circulation increased steadily until the close of the year. In 1920
the contraction did not set in as early, the low point being reached
in May, and on December 30th the circulation of Federal Reserve
notes had increased to $111,874,000, almost the identical amount of
circulation at the close of the year 1918. In 1921 the contraction
continued throughout the entire year, and resulted in a decrease
of over $40,000,000 in circulation, from $109,720,000 shown on
January 7th, to $69,667,000 on December 28th. During 1922 there
was less contraction than during the previous years. Circulation
decreased from $68,577,000 to $57,267,000 (June 28th) and at the
close of the year had expanded to $72,230,000. The circulation of
Federal Reserve notes was affected by the reduction during 1922
in the amount of Federal Reserve Bank notes outstanding, which
decreased from $10,614,500 to $2,066,154.
The Federal Reserve Agent received Federal Reserve notes
aggregating $54,240,000 from the Comptroller of the Currency
in 1922, compared with $39,220,000 received in 1921. The Agent
issued to the Federal Reserve bank during 1922, $45,180,000 in
Federal Reserve notes, against the pledge of gold and eligible
paper, as compared with $36,730,000 issued in 1921.




CLEARING AND COLLECTION OPERATIONS

There was a decided increase in the volume of business in practically every division of the Transit departments of the head office
and three branches. There was a slight decrease in the number of
checks handled as compared with the two preceding years, as shown
in Schedule No. 6, but the number of unpaid checks was considerably more than in past years, due in a measure to the increase in
the number of bank failures.
The volume of business transacted through the city and country
collection departments materially increased, there being 214,556
items handled for the amount of $166,830,477.07 as compared
with 136,068 for $144,270,988.24 in 1921, and 74,306 for $143,947,574.80 in 1920.
There were 112,756 wire transfers made in 1922 against 113,918
in 1921 and 68,161 in 1920. However, the amount of funds transferred in 1922 was $3,753,239,495.27 compared with $2,690,016,945.76 in 1921 and $2,022,103,920.59 in 1920.
FISCAL AGENCY OPERATIONS

During the year thirteen different series of Certificates of Indebtedness and Treasury notes and bonds were handled for the
Secretary of the Treasury, for which subscriptions accepted amounted to $145,051,700.00. Cash quotas were assigned the District
for all issues, and for many of them secondary quotas were given
against which Victory notes could be accepted.
In addition to the usual transactions involving the transfer of
registered bonds, and the exchange of registered for coupon bonds
and coupon for registered bonds, 5,295 First Liberty Loan Converted 4 per cent bonds and 4 per cent Second Liberty Loan bonds
were converted to 4>^ per cent bonds.
The call by the Secretary of the Treasury of all 3^4 Victory
notes to be redeemed on or before June 15th, 1922, resulted in a
gradual retirement of this issue prior to the redemption date.
The announcement, however, of the call for redemption on December 15th, 1922, of one-half of the outstanding 4 ^ Victory notes
(those bearing the symbol letters " A " to " F " inclusive) together
with announcement of the Secretary of the Treasury that the Federal Reserve banks and branches would handle the redemption of
1918 Series of War Savings Certificates (Baby bonds) maturing
on January 1st, 1923, resulted in a vast accummulation of securities
for redemption during the closing days of the year.
Extra help was employed in the Fiscal Agency departments, and
at the head office alone a force of 250 employees worked day and
night handling War Savings securities only, which involved the
issuance of over 115,000 Cashier's checks.
Sales of Treasury Savings certificates in the Tenth Federal Reserve District during the year 1922 amounted to $21,635,337.00,




compared with $1,274,898.00 for the year 1921, and $2,890,860.00 for
1920. This District now leads the other eleven Federal Reserve
Districts in per capita sales, and ranks third in the amount of cash
received from sales.
CURRENCY AND COIN TRANSACTIONS

The practice of absorbing the cost of shipping currency to member banks, and from member banks to this bank, was continued
during the year. Currency and coin transactions showed a considerable increase in volume over previous years; the number of bills
received and counted by the head office and branches in 1922 was
41,487,661, an increase of almost 3,000,000 bills over 1921, and an
increase of more than 8,000,000 over 1920. There was an even greater increase in 1922 in the number of coins received and counted,—
71,079,944 against 67,260,864 in 1921 and 15,063,920 in 1920.
OPERATION OF BRANCHES
OMAHA BRANCH

Although the average holdings of discounts of the Omaha Branch
during 1922 were only $9,559,000 as compared with $21,434,000.
for 1921, the volume of business as a whole increased over the
previous year.
The daily average of transit items handled in 1922 was 30,495
against 28,650 in 1921. The daily average number of telegraphic
transfers over the private leased wire was 67 as against 47 for the
previous year. The aggregate amount of telegraphic transfers in
1922 was $685,097,517.15. There was an increase of 21 per cent
in the number of member banks accommodated through currency
shipments.
With the exception of the redemption in December of War Savings
stamps, series 1918, the transactions for the Government's account
during 1922 did not show material change over the previous year.
The branch received 79,480 War Saving Certificates bearing Stamps
of a cash value of $5,401,981.59, the redemption of which involved
the issuance of over 41,000 Cashier's checks. In order to handle
this volume of business, it was necessary to rent additional space
outside the bank building, and make large additions of temporary
employees to the regular force.
DENVER BRANCH

The volume of business transacted showed an increase over the
preceding year in nearly all departments.
There were not as many transactions in the Discount Department as during the year 1921, and the amount represented was not




as large. The loans reached the low point of $2,812,559.36 on September 18th, and the high point of $9,106,383.72 on December 28th.
On December 31st the loans were $7,255,616.41 as compared with
$6,642,789.00 on the same day of the preceding year.
In the Transit Department there was an increase in the number
of cash items handled of 16.6% over the number handled in 1921.
The volume of business in the Collection Department shows an
even greater increase, as there were 23,752 collections made, 2,575
returned unpaid and 470 in process of collection at the close of the
year, compared with 16,116 collections made in 1921, 1,420 collections returned unpaid and 397 outstanding.
The lots purchased last year at the corner of 18th and Curtis
Streets on which it was proposed to build a building for the branch,
were exchanged for four lots situated at the corner of 17th and
Arapahoe Streets, on which location a permanent home for the
branch will be erected as soon as authority from Congress has been
received.
On December 18th, a gang of heavily armed bandits staged a
daring s daylight hold-up in front of the Denver Mint, as the messengers 'of the Denver Branch were transferring currency from the
Mint to their automobile truck. One of the guards was killed and
the robbers made a successful escape with $200,000.00 in $5.00 bills.
The bank has been fully reimbursed for the loss by the insurance
company. Along with other rewards offered was one by the Federal
Reserve Bank of Kansas City of $5,000.00 for information resulting
in the arrest and conviction of the persons guilty of the crime.
OKLAHOMA CITY BRANCH

Operations were seriously handicapped by the lack of proper
banking quarters. The Currency Department transacted all of its
business in the basement of one of the commercial banks several
blocks distant from the branch. Plans for relieving the unsatisfactory working conditions took shape in 1922, and a contract was
made on May 8th with the Selden-Breck Construction Company of
St. Louis, for the erection of a modern, fireproof structure, at the
corner of 3rd Street and Harvey Avenue, as a permanent home for
the branch bank. The contract provides for a three story building
of steel and concrete construction, walls of Bedford stone and brick
and a full basement in which the vaults will be located. Actual
construction on the building began in May, and the ceremonies in
connection with laying of the corner stone were held on December
7th. It is expected that the building will be completed not later
than May 1st, 1923.
The volume of business handled by all departments, with the
exception of the Discount Department, showed a material increase
over the previous year. The Transit Department handled a total
of 13,111,008 city and country cash items with a total value of




10

$1,564,587,234.93 against corresponding figures for 1921 of 12,283,
397 items with a value of $1,743,803,983.25. On November 13th,
93,392 cash items with a total value of $10,984,635.74 were handled
this being the largest single day's business.
The Collection Department handled 59,099 items for 1922 with a
total value of $41,011,184.90; the previous year's figures being
28,428 items for $24,997,967.85. There was also a material increase
in the number and amount of funds transferred, and about the same
percentage of increase in the volume of currency and coin shipments
and receipts.
MOVEMENT OF MEMBERSHIP

A schedule of change in membership given below by States, shows
a net increase of forty-nine members.
State
Colorado... .
Kansas
Missouri*. . .
Nebraska. . .
New Mexico*
Oklahoma*..
Wyoming. . .

12-31-21
Total
146
275
56
202

15
358
51

Total
1,103
•—Within District No. 10.

ADDITIONS
National State
Total
Banks
Banks
2
1
3
2
1
1
1
1
0
0
61
61
0
0

WITHDRAWALS
National State
Total
Banks Banks

12-30-22
Total
148
274
55
198
14
412
51
1,152

66

It will be noted from the schedule, that outside of the State of
Oklahoma, only five National bank charters were granted in other
states or parts of states located within the Tenth Federal Reserve
District.
In the last Annual Report the statement was made that during
1921, the failure of State banks in Oklahoma so involved the
Depositors' Guaranty Fund of that State, that many of the larger
State banks had surrendered their charters and become National
banks; that within the period from November 14th to December
31st, 1921, twenty-eight State banks converted into National banks
and at the close of the year twenty-eight State banks had applications pending with the Comptroller of the Currency. During the
first six months of the year 1922, fifty-five National bank charters
were granted in Oklahoma, either as conversions of State banks or
new organizations to succeed State banks, but during the last
six months' period there were only four State bank conversions.
Two National banks were organized to succeed failed National
banks, making a total of sixty-one new National banks in that
State for the year.
As to the withdrawals of National bank members, one bank
changed to a Trust company, three banks went into voluntary liqui-




11

dation, one bank merged with a State bank, three merged with
National banks, and the stock of the Federal Reserve Bank of
Kansas City held by seven suspended National banks was surrendered by the receivers, making a total of fifteen withdrawals
during the year.
There was no campaign made for State bank members and only
two were admitted to membership during 1922,—the Bankers
Trust Company of Denver, Colorado, and the Jamestown State
Bank, Jamestown, Kansas. The First State Bank, Locust Grove,
Oklahoma, converted into a National bank, and the State Savings
and Mercantile Bank, Wichita, Kansas, merged with a National
bank. The voluntary withdrawal of the Kansas Reserve State
Bank, Topeka, Kansas, and the surrender of stock by the Midwest
Reserve Trust Company of Kansas City, Missouri, were the only
other changes in State bank membership,—there being at the close
of the year forty-four State bank and Trust company members.
PERSONNEL

J. Z. Miller, Jr., resigned as Governor of the bank, effective
July 1st, 1922, and was succeeded by Director W. J. Bailey, who
also served as director for the remainder of his term, which expired
December 31st, 1922.
The Federal Reserve Board reappointed Mr. Asa E. Ramsay
Chairman of the Board of Directors and Federal Reserve Agent;
reappointed Mr. Heber Hord Deputy Chairman, and appointed
Mr. Fred O. Roof of Denver, Colorado, as a Class " C " Director,
for a term of three years, to succeed Mr. Fred W. Fleming whose
term expired December 31st, 1922. Member banks re-elected
Mr. M. L. McClure as a Class " B " Director and elected Mr.
Frank W. Sponable of Paola, Kansas, as a Class " A " Director
to succeed Director W. J. Bailey, each for a term of three years.
G. A. Gregory, former Assistant Cashier of the Omaha Branch,
was promoted to the office of Cashier to succeed Cashier P. R.
Fredman, resigned.
The only other change in the personnel of the officers was the
appointment of O. A. Leamon as Branch Auditor for the Oklahoma
City Branch. A complete list of directors and officers for the year
1923 is given on page 3 of this report.
Due to a decrease in the volume of business handled, and through
the efforts of the Efficiency Committee, the number of bank employees at the head office and branches was reduced during the year
from 839 to 742.
On February 23rd, 1922, a conference of Federal Reserve Agents
and Governors of the Federal Reserve Banks of Cleveland, Minnea-




12

polis, Dallas and Kansas City was held at the Federal Reserve
Bank of Kansas City, at which meeting Governor W. P. G. Harding
was present and the members of the Board of Directors of the Federal Reserve Bank of Kansas City. This was the first meeting of this
group of Federal Reserve Banks called by the Federal Reserve
Board under its program of sectional conferences.
FINANCIAL RESULTS OF OPERATION

The gross earnings from operations for the year were $3,094,660.07; current expenses $2,010,820.23, leaving net earnings of $1,083,839.84. After adding miscellaneous earnings of $101,958.88, which
amount includes appreciation on U. S. securities of $95,999.40,
and deducting $402,763.08, which includes depreciation allowances
of $211,243.28 on bank buildings at Kansas City and Omaha and
reserves for replacements of Kansas City banking house of $126,567.14, the net earnings available for dividends, franchise tax and
surplus amounted to $783,035.64, which was distributed as follows:
Semi-Annual dividend No. 16 to June 30th, 1922
$138,073.72
Semi-annual dividend No. 17 to Dec. 31st, 1922
137,581.16
Transferred to Surplus account
50,738.07
Paid to U. S. Government as 1922 Franchise Tax. . . .456.642.69
Total,
$783,035.64
A detailed statement of the distribution of 1922 earnings is given
in Schedule 5, together with comparative figures covering the years
1921 and 1920.
In addition to the amount paid the U. S. Government as 1922
Franchise Tax, on December 30th, 1922, the surplus account of the
bank was reduced in the sum of $208,169.99, and a like amount paid
to the Treasurer of the United States in adjustment of the amount
of Franchise Tax paid for the year 1921. In closing the books for
the year the surplus and super-surplus accounts were combined,
and the capital and surplus accounts were as follows:
Subscribed capital, January 1st, 1923
$9,246,200.00
Paid-in-capital
January 1st, 1923
4,623,100.00
Surplus
January 1st, 1923
9,488.299.89
The Franchise Taxes paid the Government on December 30th,
1922, of $456,642.69 and $208,169.99, added to the amounts paid
for the years 1920 and 1921, make a total of $5,205,599.19 paid
to the United States as Franchise Taxes to be used either to supplement the gold reserve held against outstanding U. S. notes or applied to the reduction of outstanding bonded indebtedness of the
United States.




13

Of the total gross earnings of the head office and branches,
$1,492,656.75 was from bills discounted,. $8,827.54 from discounts
on bills purchased, $1,408,737.84 interest on U. S. securities, $137,222.71 miscellaneous earnings and $47,215.23 penalties on deficient
reserves. The latter amount is relatively small compared with
penalties for the two previous years; earnings in 1921 from that
source being $126,434.05, and in 1920 $238,424.89. A comparative
detailed statement of earnings and current expenses for the years
1922, 1921 and 1920 is given in Schedule 5.
CHANGES IN CONDITION OF MEMBER BANKS IN
RESERVE CITIES OF THIS DISTRICT

All member banks located in reserve cities of this district continued reporting weekly figures of principal asset and liability
items, which figures were published by the Federal Reserve Board,
together with figures from member banks in selected cities of the
other districts. The reports for the last date of each month are
compiled in Schedule No. 7, the outstanding features of which are
briefly reviewed as follows:
Total loans and discounts show a slight decline during the first
nine months, and at the end of the year are shown as $449,299,000
a decrease of only $5,232,000 from the last report in December,
1921, as compared with a steady decrease for 1921, the January
figures of that year being $512,090,000 and December $454,531,000.
Investments in Government securities more than doubled in
1922, a steady increase from $41,905,000 to $90,027,000, as compared with a slight decrease in 1921. Likewise, investments other
than Government securities made a substantial increase from
$49,115,000 to $60,289,000, as against a slight decrease for 1921.
An almost uninterrupted increase is noted in net demand deposits
from $371,784,000 to $445,741,000, against a decrease shown in
1921 of over $26,000,000. Time deposits show a gain for both
years, the 1922 gain being somewhat larger.
Accommodations granted Reserve City banks by the Federal
Reserve Bank, which showed such a marked reduction in 1921 from
over $66,000,000 to less than $36,000,000, continued on the decline,
the low point being $2,254,000, as shown on the last report in July.
December figures show $17,034,000, a decrease of over $18,000,000,
for the year.




14

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 1—Comparative Statement of Condition
(IN THOUSANDS OF DOLLARS)
Dec. 30,
1922

Dec. 31, Dec. 31,
1921
1920

RESOURCES
Gold and gold certificates
Gold settlement fund—Federal Reserve Board
Gold with foreign agencies
Total gold held by bank
Gold with Federal Reserve Agent
Gold redemption fund
Total gold reserves
Legal tender notes, silver, etc
Total reserves

2,682
30,768

2,517
33,764

33,450
55,031
2,354
90,835
3,902
94,737

36,281
28,042
3,474
67,797
6,861
74,658

4,026
23,957
158
28,141
40,769
5,255
74,165
2,332
76,497

Bills Discounted:
Secured by U. S. Government obligations
All other
Bills bought in open market

7,352
19,192
402

17,839
52,140
1,337

29,707
80,634
2,171

26,946

71,316

112,512

United States bonds and notes

Total bills on hand

27,559

8,868

8,868

United States Certificates of Indebtedness:
One-year certificates (Pittman Act)
All other
Municipal warrants
Total earning assets

11,630

12,820
1

66,135

5,320
66
150
85,720

134,201

Bank premises
5 per cent redemption fund against F. R. Bank notes
Uncollected items
All other resources

4,695
200
47,968
665

4,400
889
40,926
518

1,041
916
55,652
350

214,400

207,111

268,657

4,623
9,488

4,570
9,646

4,455
9,159

Government
Member bank-reserve account
All other
Total deposits

1,283
82,782
3,286
87,351

6,053
71,997
758
78,808

4,909
74,318
678
79,905

Federal Reserve notes in actual circulation
Federal Reserve Bank notes in circulation—net liability
Deferred availability items
All other liabilities
Total liabilities.

69,887
2.066
40,575
410
214,400

69,044
10.615
33,532
896
207,111

111,578
14.221
47,631
1,708
268,657

Total resources

LIABILITIES
Capital paid in
Surplus
DEPOSITS:

Ratio of total reserves to deposit* and Federal Reserve note liabilities combined
60.3

50.5

*—Net deposits prior to March 18, 1921, and total deposits beginning with that date.




15

*41.7

FEDERAL RESERVE BANK OF KANSAS CITY
MILLIONS OF DOLLARS

MILLIONS OF DOLLARS
F. R. NOTE CIRCULATION

40
PU RCHAS ED BIL LS
20

1920




1921

16

1922

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No.2-Movement of Principal Assets and Liabilities During 1922
(AMOUNTS IN THOUSANDS OF DOLLARS)
BILLS DISCOUNTED
For Member Banks
Total
Earning

DATE

Assets

(2+5+6)

Total

I Bills Se- 1 Other
cured by
Bills
U. S. Gov. discounted
obligations

2
an. 4 .. .. . . .
. . . . ....... .
an. I! .. .....
. .... . . .. ....
an . 18 .. ... . .... .. . . . . . . . .
tan. 25 .. . ....... . . .... . . .. .. .
eb. I .. ..... ... . . . .. ..... ...
F eb . 8 .. . . .
. ...
Feb. 15 . . . ...... ... . ... . . . . .
Feb. 21. . ........... . .... .... ..
Mch. I . . ... ... .. .. ..... . .. .
Mch. 8. .... .... ... .
. .......
.., .
Mch.15 . . ......
... ..
Mch 22 . . .. .. ....... .... .. .. .. .
Mch. 29 .. . . .... .... ... .........
Ap ril 5 . . ....... . ..
., .
April 12 .. . . . . . . . . . ... . .. . .. ..
April 19 .. ........ .. . . ..... . .
Apri l 26 .. .. .. .. ... ..... .. ... . .
May 3 .. .. . .... .... .. ... ....
May 10 .. .. ..... .. .. .... . . ... . .
May 17 .. .... .. . ... .. . . . ,. ., .
May 24 .. .. . . .. .. .. ... .. .. .
May 31 .. . . . . . . . . . .,. . . . . ...
June 7 ... ..
... . .......
June 14 ... ........ . .......... ..
June 21 .. ...... ..... . ... . ... . . .
. . . . . . . ... .
June 28. . .. ....
July 5 .. ..... . . ... .. . .......

.

....

.

...

...




.

*85.072
*79.927
74.634
67.936
68,850
70,476
67,317
63.256
64,772
72.444
68.850
68.146
72.269
12.519
74.608
76.680
74.262
73.084
67.286
66,479
65.235
65.687
65.262
64,422
65,766
66,735
65.681

69.569
64.792
60.038
53.51 1
54,389
50.693
44.051
40.407
37,748
37. 072
33.969
32,454
32.757
32.914
32,846
31.999
30,411
29.233
25.194
24.999
23.754
24.206
23,435
22,572
21,147
21.114
20.060

3
18.165
15.767
14. 339
11.544
14.1 39
13.754
10,301
8.835
8.23 I
7,7 13
7.419
6.7 17
6.D78
6.253
5,749
5.092
4.863
5,755
3.487
3.387
3,758
3.947
3.189
2.739
2,645
2.889
2.373

Bills
Bought
In open
Market

Total
Cash
Reserves

6

4

51.404
49.025
45.699
41.967
40.250
36.939
33,750
31,572
29.5 17
29,359
26.550
25.737
26.679
26.661
27.097
26.907
25,548
1.3,478
21,707
21.612
19.996
20.259
20,246
19.833
18.502
18.225
17.687

United
States
Securities

096
1.75 31
364
194
61
58
45
46
26
36
29
29
29
19
44
44
39
39
29
5
5
5
5
5
5
5
5

7

14.257
14.232
14.232
14,231
14.400
19.725
23.221
22.80 )
26.998
35,336
34,852
35.661
39.483
39.586
41,718
44.637
43.812
43.812
42.063
41.475
41.476
41,476
41.822
41.845
44.61 4
45.616
45.616

72.523
74.05 3
8 1.846
86.795
87.3 00
85.048
89.173
95,600
91,763
81.354
84.468
85.233
82.436
83.985
78.576
78.850
77.791
85.203
81.527
86.29 1
85.001
90.183
83.821
90.840
90.807
87,488
89.796

Member
Banks"
Reserve
Deposits

8
67. 456
68.5 17
69.5 12
69.393
69.015
70.2 58
73.326
76.034
73.449
71.055
71 .30;
68.561
71 .523
68.645
69.8 13
73,219
71.061
76.047
70.599
74.721
74.806
76.293
71 .051
76.999
80.884
77.141
75,479

Total
D eposits

Federal
R eserve
notes in
Circulalation

9

10

72.729
70.648
73.082
72.940
75,302
75.518
76.410
78.487
76.893
73.205
78.710
73.180
75.325
70.550
72.163
76.245
73,404
81.252
73.313
79.338
77.314
79.8 19
74.943
80.163
82.762
79.988
77,764

68.577
66.644
65.183
63.837
62.676
62,223
61,355
61.493
61.881
61.960
62.1 23
62.161
6 1.690
62.773
61.922
61.544
60.517
60.357
59,589
59.0 12
58.182
57.577
58. 153
57,758
58.020
57.267
59,143

Reserve
Percentages

11
51.3
53.9
59.2
63.5
63.3
6 1.7
64.7
68.3
66.1
60.2
60.0
63 .0
60.2
63.0
58.6
57.2
58. 1
60 .2
61.3
62.4
62.7
65.6
63 .0
65 .9
64.5
63.7
65.6

SCHEDULE No. 2—Continued
(AMOUNTS IN THOUSANDS OF DOLLARS)

DATE

Total
Eearning
Assets
(2+5+6)

BILLS DISCOUNTED
For Member Banks
Other
Bills SeBills
cured By
U. S. Gov DiscountObligation
ed
Total

Bills
Bought
in open
Market

United
States
Securities

Total
Cash
Reserves

Member
Banks'
Reserve
Deposits

Total
Deposits

64,318
64,07?
63,899
63,571
63,259
62,660
62,165
63,829
63,239
62,456
64,689
66,80"
66,187
63,196
64,503
65,973
68,745
68,960
71,459
68,827
68,452
71,325
71,344
76,760
71,724

*—Includes $150,000 of Municipal Warrants.




Reserve
Percentages

10

1

July 12
July 19
July 26
Aug. 2
Aug. 9
— Aug. 16
00
Aug. 23
Aug. 30
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Oct. 4
Oct. 11
Oct. 18
Oct. 25
No8..
No
No 15..
No- 22..
No- 29..
De
6..
De 13..
De 20..
De 27..

Federal
Reserve
notes in
Circulation

18,550
18,376
18,205
17,872
17,685
17,0816,887
18,55!
17,957
17,724
20,070
22,359
22,217
19,687
24,089
23,165
25,756
27,170
29,752
28,584
28,858
31,726
31,345
34,066
30,436

1,613
1,51"
1,470
1,719
1,634
1,287
1,080
2,034
1,740
1,18"
2,269
3,154
2,189
2,366
5,435
3,542
4,922
5,890
7,406
6,625
7,757
9,893
9,136
11,751
9,767

16,937
16,863
16,735
16,153
16,051
15,796
15,807
16,517
16,217
16,541
17,801
19,205
20,028
17,32!
18,654
19,623
20.8M
21,280
22,346
21,959
21,101
21,833
22,209
22,315
20,669

75
75
75
75
75
75
75
75
10!
101
101
392

791
692
715
300
402
402
402
602
402

45,768
45,702
45,694
45,699
45,499
45,502
45,20?
45,203
45,207
44,657
44,544
44,369
43,869
43,408
40,313
42,416
42,198
41,098
40,992
39,943
39,192
39,197
39,597
42,092
40,886

89,441
95,126
92,497
95,402
92,027
92,780
93,746
90,054
95,309
93,678
92,289
92,259
95,472
94,860
98,543
94,955
95,024
93,066
95,690
93,678
93,421
92,724
94,436
84,025
89,799

77,16'
77,509
78,124
75,066
77,579
78,086
78,049
77,529
80,637
78,045
79,231
78,148
81,314
79,816
80,813
79,454
81,239
76,076
79,879
77,495
77,392
79,539
82,875
80,773
80.608

79, >95
84,726

81,409
78,738
79,53
81,418
81,089
80,446
82,840
81,544
81,109
80,724
82,653
81,305
83,332
81,278
84,119
78,042
83,879
81,486
80,937
82,698
85,948
84,438
84,555

58,958
58,975
58,807
59,437
60,102
60,461
60,754
60,372
62,024
61,992
63,076
63,902
65,5766,528
67,478
67,416
67,879
68,893
68,982
68,734
67,705
69,501
69,022
71,552
72,230

616
66.2
66.0
69.0
65.9
65.4
66.1
64.0
64.4
65.3
64.0
63.8
64.4
64.2
65.3
63.9
62.5
63.3
62.6
62.4
62.8
60.9
60.9
53.9
57.3

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 3—Volume of Discount and Open Market Operations
(IN THOUSANDS OF DOLLARS)
DISCOUNTED PAPER

Month

Jan—

Total

Secured
by U. S.
Gov.
obligations

Feb.. .
March
April..
May. .
June. .
July...
Aug.. .
Sept...
Oct....
Nov.. .
Dec.. .

46,220
32,625
29,199
22,257
18,737
14,393
14,350
9,445
19,574
29,831
36,629
54,759
328,019
944,074
,667,943

206,307
630,652
1,114,026

Bank- Trade Agriculers
accepttural
accept- ances and liveances
stock
paper




212
369

4,516
10,142

All

Total

Bank- Dollar
ers
exaccept- change
ances

U. S. Securities
Purchased
Trade Bonds
Cert.
acceptand
of
ances
Notes
indebtedness

Other
8,989
3,775
7,371
6,666
3,208
3,980
2,177
1,660
4,889
6,903
5,974
6,557

75
277
292
809
275

75
277
292
809
275

59,475
62,149
121,869 186,825
543,406

1,849
5,558
17,173

1,849
5,558
17,173

5,894
3,760
5,762
5,039
5,202
4,164
3,288
3,305
5,220
7,303
5,463
5,075

31,277
25,078
16,061
10,552
10,327
6,249
8,882
4,479
9,463
15,622
25,190
45,127

Total:
1922..
1921..
1920..

PURCHASED PAPER

10
15,030
12,539
9
11,919
281
29
406
211

864
41,298
800

Total Discount and
Open Market Operations
Municipal
warrant
purchased

4
565
3,782
5,056
14
6,307
10
1
29
2,284
5
25,767
43,824
9,149
128,079

1922

1921

46,254 100,742
48,225 91,629
45,558 112,114
27,361
91,178
18,770 73,095
32,619
77,410
14,641
69,109
9,550 60.347
20,286
72,916
32,618 81,730
37,443
68,476
81,665
61,591

1920
148,4K

135,647
178,502
145,170
134.584
153,692
151,738
150,307
161.254
169,348
141,650
142,890

414,990

756

960,337
1,813.19.

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 4—Volume of Bills Discounted for Member Banks in Each State
(AMOUNTS IN THOUSANDS OF DOLLARS

Colo.

764
671
565
272
240
322
719

9,249
5,765
9,600
7,895
5,207
3,907
2,223
2,061
7,233
10,136
11,083
10,775

7,755
4,421
3,778
2,998
3,083
3,310
2,495
1,729
2,167
7,837
10,993
26,692

4,192
2,575
2,795
2,186
2,315
1,838
1,519
1,784
2,945
2,831
2,392
2,828

11,184
7,582
6,390
4,142
3,095
2,166
1,862
2,060
1,684
1,538
1,143
1,546

361
555
401
406
332
461
378
349
102
75
49
83

46 220
32,625
29,199
22,757
18,737
14,393
14,350
9,445
19,574
29,831
36,629
54,759

78,528
289,897
687,211
NUMBER OF MEMBER BANKS AT ENDiOFFYEARR :
O
YEA

8,955
28,863
25,666

85,134
175,230
356,931

77,258
141,255
222,453

30,200
85,460
125,537

44,392
216,713
239,982

3,552
6,656
10,163

328,019
944,074
1,667,943

55
56
58

51
51
50

198
202
210

148
146
145

274
275
271

412
358
340

14
15
13

1,152
1,103
1,087

NUMBER OF MEMBER BANKS ACCOMMODATED:
ODATED;
1922
38
54
1921
45
1920

35
39
35

146
169
192

99
105
114

138
211
171

267
329

10
13
12

733
920
826

Mo.*

January
February
March

12,325
10,969
5,051
3,503
3,526
1,947
5,202

April
May

June
July
August
September
October
November
December
TOTAL:

897
5,171
7,174
10,647
12,116
1922

1921
1920

1922
1921
1920

1,154

758
1,184
1,127
1,179

*—Figures in this column relate to that part of the State located in this district.




Kan.

Ok la*

Total

Nebr.

Month

Wyo.

257

[N.

Number of Member Number of Member
banks in district at banks accommodatend of month
ed during the month
1,112
1,118
1,129
1,141
1,146
1,152
1,151
1,152
1,151
1,152
1,154
1,152

563
453
441
443
429
381
303
292
316
327
330
297

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 5—Earnings and Expense
1922

1921

1920

$1,492,657
8,828
1,408,738
1,449
47,215
135,773
j>,Us>4,6bO

$5,134,004
49,148
382,855

'126,434
20,417
5,712,858

$6,441,476
211,975
505,539
(a) 1,750
238,425
14,322
7,409,987

160,543
1,051,627
45,976
55,097
620
211
410
25,823
28,705
32,749
6,769

116,274
794,286
25,275
35,694
626
121
330
19,532
28,085
34,221
2,543

EARNINGS
D i s c o u n t e d Bills
P u r c h a s e d Bills
U n i t e d S t a t e s Securities
Transfers—Net Earnings
Deficient R e s e r v e Penalties
Miscellaneous
T o t a l earnings

CURRENT EXPENSES
Salaries:
Bank officers
Clerical staff
Special officers and watchmen
AllOther
Governors' Conferences
Federal Reserve Agents' conferences
Federal Advisory Council
Directors' meetings
Traveling expensest
Assessments for Federal Reserve Board Expenses
Legal Fees
Insurance (life, fidelity, casualty, workmen s compensation,
and general liability)

161,5^0
957,88 i
62,918
107,316
512
250
460
25,604
17,941
32,230
6,911
28,650

Banking House:
Taxes and fire insurance
17,457
Light, heat, and power
28,253
Repairs and alterations
25,883
AllOther
3,958
Rent, including light, heat and power, and minor alterations.
18,786
Fire Insurance—Furniture and Equipment
1,133
Furniture and Equipment*
Printing and Stationery (Including Office and Other suppliSs)
77,708
Telephone
9,127
Telegraph
73,831
Security Shipments.
12,028
Currency and Coin Shipments
39,118
Postage and expressage (other than on money and security
shipments)
125,591
Federal Reserve Currency:
Original cost, including shipping charges
64,990
Cost of redemption, including shipping charges
28,077
Taxes on Federal Reserve Bank note circulation
37,713
All Other Expenses
44,962
Total Current Expenses
2,010,820
Current net earnings

1,083,840

42,172

15,586\
7,781 I
7,0881
13,854/
63,9641
1,257/
183,223
104,982
10,984
77,611
8,0351
42,962 I

133,182J

29,207

71,743
126,707
94,787
5,627
37,310
175,076

124,491
32,054
62,938
70,385
2,411,079

97,477
33,905
83,422
45,712
1,857,960

3,301,779

5,552,027

-|-—Other than those connected with governors' and agents' conferences and meetings of directors
and of the advisory council.
*—Charged to Profit and Loss in 1922 and to current expenses prior to that year,
(a)—Debit.




21

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 5—Earnings and Expenses-Continued
1922

1921

1920

P R O F I T AND LOSS ACCOUNT
Earnings
Current Expense
Current Net Earnings

$3,094,660
2,010,820
1,08*,840

Additions to current net earnings:
Amounts deducted from reserve
on United States Bonds
AHOther
Total Additions

$7,409,987
1,857,960
5,552.027

95,999
5,960
101,959

for

$5,712,858
2,411,079
3,301,779

38,605
3,826
42,431

1,040
1,040

depreciation

Deductions from current net earnings:
Depreciation allowances on bank premises
Furniture and Equipment
Reserve for Probable Losses. .
Reserve for Depreciation on United States Bonds
All Other
Total Deductions

4,825
402,763

288,114

11,579
807
12,386

Net Deductions from current net Earnings.

300,804

245,683

11,346

783,036

3,056,096

5, 540,681

Net

Earnings Available
and Surplus

for

Dividends,

Franchise

Dividends paid
Franchise tax paid United States Government
Transferred to surplus account

337,810
60,128

88,114
200,000

Tax,

275,655
*456,643
* 50,738

268,620
2,300,558
486,918

257,672
2,240,228
3,042,781

•—Bank also charged its surplus account and paid the U. S. Government $208,170 as an additional
franchise tax for 1921. See page 13.




22

FEDERAL RESERVE BANK OF KANSAS CITY
SCHEDULE No. 6—Operations of Federal Reserve Clearing System
{Figures include cash Items only)
(NUMBERS IN THOUSANDS; AMOUNTS IN THOUSANDS OF DOLLARS)
Items Drawn
on

Month
January.. .
February.
to March. . .
^ April
May

June
July
August...
September
October. .
November
December.

Banks in O wn District
Number
/vmount
i, 48b
5)0, 90
3,275
468,588
3,921
596,505
3,577
504,415
3,810
537,6b7
3,970
572,259
3,741
552,b07
3,792
568, i4 5
3,921
598,482
4,280
680,(76
3,949
609,670
4,452
6*5,494

Items r< awarded
To Other F . R. Banks
And Thei! Branches
iNumber
346
393
369
384
404
377
396
389
417
406
463

Amount
63,695
54,760
67,264
56,216
63,875
67,742
63,374
61,02:
61,724
72,579
65,616
65,941

t4,724
+5,029
t4,775

t765,80;
+858,94*
+ 1,364,58^1

iSO

Items Drawn
on Treasurer of
United States
iNumaer
Amount
i02
24,7/)
110
20,778
151
21,580
192
17,187
172
19,474
17,573
147
106
15,507
118
17,001
21,063
187
2 52
21,694
174
18,820
167
21,062

Total*
Number
i,968
3,731
4,465
4,138
4,366
4,521
4,224
4,306
4,497
4,929
4,529
5.082

,

Amount
638,658
544,126
685,349
577,818
621,016
657,574
631,488
648,367
681,269
774,649
694.106
730,497

TOTAL :

1922
1921
1920

46, t 74
49,656
4b. 8 8

6,882,598
7,422,55
10.5! I Q l ?

1,858
1,740
1 578

236,512
219,246
148 2^5

52,756
56,425
53.171

7,884,917
8.500,548
12,026,791

•—Exclusive of duplications on account of items handled by both parent bank and branch.
t—Includes 11,000 items, aggregating $4,318,000; 7,000 items, aggregating $4,455,000; and 3,000 items, aggregating $2,567,000, forwarded direct to drawee banks in
other districts during 1922, 1921 and 1920, respectively.




FEDERAL RESERVE DISTRICT OF KANSAS CITY
SCHEDULE No. 7—Principal Assets and Liabilities of Reporting Member Banks in Leading Cities
As of the Last Report Date in the Month
(IN THOUSANDS OF DOLLARS)

Last
Report
Date
In
January. .
February.
March
April
May
June
July
August...
September
October
November
December.

Total Loans
and Discounts
(including reDiscounts With
F. R. Bank)
1922
1921
512,090
452,403
502,175
425,953
497,387
424,626
486,395
423,895
477,759
428,026
472,765
425,061
470,491
428,666
455,200
426,234
453,773
431,210
453,702
440,338
463,973
446,538
454,531
449,299

Investments
Net

U.S.
Securities
1922
|
42,595
53,767
50,850
58,882
60,977
79,129
80,519
83,062
85,236
85,111
87,643
90,027

1921
45,806
47,182
44,740
42,050
42,872
44,353
42,442
43,090
42,556
42,466
42,599
41,905

All Other
1922
47,275
46,978
48,982
50,791
53,242
56,244
59,204
60,866
62,140
59,286
59,216
60,289

1921
54,538
54,837
54,218
46,360
47,968
46,310
45,801
44,663
47,124
47,134
48,183
49,115

Demand
Deposits
1922 |
372,034
382,424
389,659
400,618
418,750
433,28-1
444,067
446,858
448,209
447,825
437,060
445,741

1921 I
398,423
405,915
384,085
373,081
370,911
367,988
365,994
373,680
354,240
352,503
363,223
371,784

Time
Deposits
1922
|
105,020
106,227
104,761
109,005
110,745
115,956
116,048
116,844
117,821
121,674
122,384
123,436

1921
|
99,784
101,529
101,240
104,955
104,330
106,883
106,916
102,525
100,066
103,732
104,520
106,560i

Accommodation
at

F. R. Bank

1922
23,771
13,148
9,666
9,142
4,570
3,157
2,254
3,538
7,596
9,291
14,506
17,034

NOTE: Figures are for about 79 banks, which submit weekly reports to the Federal Reserve Board, located in Kansas City, Mo., Denver, Oklahoma City,
Omaha, Kansas City, Kans., Lincoln, Muskogee, Pueblo, St. Joseph, Topeka, Tulsa and Wichita.




1921
66,3 52
60,926
67,829
59,014
49,264
47,40!
43,087
36,324
43,612
43,741
45,907
35,794


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102