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F ed eral R eserve Ba n k OF DALLAS D allas, T ex a s, M a y 1 6 ,1 9 5 1 CONDITION OF MEMBER BANKS, APRIL 9,1951 ELEVENTH FEDERAL RESERVE DISTRICT To the Member Banks of the Eleventh Federal Reserve District: T h e sta tem en t o f con d ition o f m em b er banks in th e E lev en th F ed era l R e se rv e D istrict as o f A p r il 9, 1951, w ith com p a ra tiv e figu res f o r A p ril 24 and D ecem b er 30, 1950, is p resen ted on th e re v e rse o f th is letter. B etw een D ecem ber 30, 1950, and A p ril 9, 1951, m em b er bank loans ro se $24,000,000, as co m p a red w ith an in crea se o f $8,000,000 in th e com parable p eriod last year. D u rin g th e first 3 m on th s o f 1951 th e dem and f o r loans at m em b er ban k s in th e D istrict con tin u ed v e r y stron g, reflectin g such fa c to r s as th e grad u al increase in th e tem p o o f d efen se a ctiv ity , th e su stain ed h ig h level o f business th a t has p reva iled th rou g h ou t th is area, and th e risin g co sts o f d oin g business, w h ich h ave been, a t lea st to som e exten t, a reflection o f th e m ark ed inflation ary developm en ts d u rin g th e p ast 9 m on th s. P erh ap s even m ore significan t, h ow ever, than th e in crease in loans sin ce th e end o f 1950 is th e in crea se o f m ore th an $391,000,000 th a t occu rre d d u rin g th e a p p rox im a te 12-m onth p eriod e x te n d in g fr o m A p r il 24, 1950, to A p ril 9, 1951. T h e loan in crease o f th e p ast 12 m on th s has been d ire ctly a ssociated , o f cou rse, w ith th e unusually h ig h levels o f business a ctiv ity , p rod u ction , and e m p lo y m en t. T o a con siderable exten t, h ow ever, m u ch o f th e stim u lation o f business d urin g th e period w as due to in flation ary fa c to rs and to b u y in g b y businesses and individuals in a n ticip ation o f sh o rta g e s th a t th ey fea red m ig h t develop as th e d efen se p rogra m p rogressed . A ll classes o f loans, inclu d in g com m ercia l, indu strial, and a g ric u ltu r a l; real e s ta t e ; and co n su m er-ty p e cred its, p articip ated in the u pw ard trend. T h e declin e in to ta l deposits o f m em b er banks in th e D istrict w as m u ch m ore substan tial d u rin g th e first 3 m on th s o f 1951 than d u rin g th e com parable p eriod in 1950. In th e latest re p o rtin g period to ta l deposits o f m em b er banks declined $606,000,000, as com pared w ith abou t $248,000,000 in th e first 3 m on th s o f 1950. T h is d evelop m en t reflects p rin cip a lly th e unusually large co rp o ra te and p e r son al incom e ta x p aym en ts m ade in M arch o f th is year. Full em p loy m en t a t re la tiv ely h ig h w a ge ra tes, fu ll p rod u ction , v e r y h ig h levels o f business a ctiv ity , and upw ard revision s in ta x ra tes r e su lted in m u ch la rg er ta x paym en ts on 1950 incom es th an on incom es o f 1949. D esp ite th e sharp d eclin e in d eposits du rin g th e first 3 m on th s o f th is year, h ow ever, tota l deposits on A p ril 9, am ou nt in g to $6,593,000,000, w ere m ore th an $400,000,000 a bove th e total rep orted on A p ril 24, 1950. T h e ris in g loan volu m e and declin in g deposits d urin g th e first 3 m on th s o f 1951 con trib u ted to th e decline in m em b er bank h old in g s o f U nited S tates G overn m en t secu rities — a decline w h ich am ou n ted to $219,000,000. A n o th e r con trib u tin g fa c to r w as th e increase in reserve req u irem en ts in Jan u ary, w h ich m em b er ban k s p a rtly m et b y sellin g G overn m en t secu rities. M em ber banks also o b ta in ed fu n d s to m eet d ep osit w ith draw als b y red u cin g th eir h old in gs o f cash and balances due fr o m ban k s b y a b ou t $404,000,000 d u rin g th e 3 -m on th period. On A p r il 9, 1951, total capital a ccou n ts o f m em b er banks in th e E lev en th F ed era l R eserve D is t r ic t am ou nted to $441,000,000, or an in crease o f $22,000,000 o v e r the figu re re p o rte d D ecem ber 30, 1950. Y o u rs v e r y tru ly, R. R . G ilbert P resid en t This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) C O M P A R A T IV E S T A T E M E N T O F C O N D IT IO N O F M E M B E R B A N K S E L E V E N T H F E D E R A L R E S E R V E D IS T R IC T December 30, 1950r A p r il 9, 1951p Ite m M em ber banks in E lev en th D is tr ic t____ L oan s, inclu din g o v e r d r a fts _____________ U. S. G overn m en t ob ligation s, d irect and gu a ra n teed _____________________________ O bligation s o f states and p olitical su b d ivision s________ __ _____________________ O th er secu rities_______________ __________ T O T A L L O A N S A N D IN V E S T M E N T S T O T A L A S S E T S ________________________ In d ivid u al— D em and d ep osits___________ In dividu al— T im e d ep osits___________ ____ D ep osits o f U. S. G overn m en t, inclu din g p ostal sa v in g s__________________________ D ep osits o f states and p olitica l sub d iv ision s________________________________ D ep osits o f b a n k s________________________ O th er d ep osits----- --------- -------------------- ------T O T A L D E P O S IT S ______________________ T O T A L C A P IT A L A C C O U N T S . .........._ Cash and balances due fr o m b an k s...... B o rrow in g s fr o m F ed era l R eserv e B ank A ll o th er b o rro w in g s _____________________ R a tio o f loans to tota l loans and in v est m en ts___________________________________ R a tio o f ca sh and ex ch a n g e to total d ep osits_________________________________ A p r i l 2 4, 1950r 630 630 626 2 .4 3 0 .5 5 9 .0 0 0 2 .4 0 6 .1 8 8 .0 0 0 2 .0 3 9 .1 7 5 .0 0 0 2 .0 5 6 .0 7 8 .0 0 0 2 .2 7 4 .9 3 5 .0 0 0 2 .2 6 1 .1 4 3 .0 0 0 2 9 7 .8 4 5 .0 0 0 2 9 3 .6 6 2 .0 0 0 2 6 0 .3 9 4 .0 0 0 7 9 .8 7 5 .0 0 0 7 4 ,4 6 9 ,0 0 0 5 7 .7 6 9 .0 0 0 4 .8 6 4 .3 5 7 .0 0 0 5 .0 4 9 .2 5 4 .0 0 0 4 .6 1 8 .4 8 1 .0 0 0 7 .0 7 1 .8 2 4 .0 0 0 7 .6 5 6 .8 5 6 .0 0 0 6 .6 0 5 .9 3 1 .0 0 0 4 .4 2 8 .3 8 6 .0 0 0 4 .7 0 3 .3 6 9 .0 0 0 4 .1 8 5 .2 0 5 .0 0 0 5 4 6 .1 7 0 .0 0 0 5 4 8 .5 1 2 .0 0 0 5 4 3 .1 8 2 .0 0 0 1 9 4 .6 8 9 .0 0 0 100 122.000 . 8 7 .4 3 9 .0 0 0 5 9 4 .2 7 7 .0 0 0 6 1 6 .9 6 3 .0 0 0 5 8 6 .6 7 4 .0 0 0 7 6 1 .1 9 1 .0 0 0 1 .0 7 5 .7 3 5 .0 0 0 7 2 4 .4 8 1 .0 0 0 6 7 .9 6 4 .0 0 0 1 5 3 .7 6 6 .0 0 0 6 3 .9 0 4 .0 0 0 6 .5 9 2 .6 7 7 .0 0 0 7 .1 9 8 .4 6 7 .0 0 0 6 .1 9 0 .8 8 5 .0 0 0 4 4 0 .6 2 2 .0 0 0 4 1 8 .4 8 3 .0 0 0 3 8 9 .5 4 7 .0 0 0 2 .1 0 2 .9 8 7 .0 0 0 2 .5 0 7 .0 6 2 .0 0 0 1 .8 9 9 .3 0 0 .0 0 0 1 6 0 ,0 0 0 — o— 2 ,0 6 0 ,0 0 0 21,000 3 1 ,0 0 0 5 0 .0 % 4 7 .7 % 4 4 .2 % 3 1 .9 % 3 4 .8 % 3 0 .7 % 8 7 0 ,0 0 0 p—Preliminary, r—Revised. P R IN C IP A L A S S E T A N D L I A B IL IT Y IT E M S O F M E M B E R B A N K S AS OF SELECTED C A LL D ATES E L E V E N T H F E D E R A L R E S E R V E D IS T R IC T (In thousands of dollars) T o ta l Loans and In v e stm e n ts T o ta l U .S . G ov. Secs. T o ta l C a p it a l A c c o u n ts 8 8 9 ,2 0 7 2 9 7 ,8 7 3 1 6 3 ,9 2 4 4 2 9 ,9 4 7 9 1 1 ,5 5 9 2 8 6 ,0 7 7 1 7 0 ,6 3 7 5 7 8 ,6 1 1 4 6 0 ,4 8 1 1 ,0 3 9 ,0 9 2 3 0 8 ,3 5 9 1 7 9 ,6 3 3 2 ,0 0 8 ,7 7 7 6 4 4 ,1 4 0 5 5 9 ,1 7 1 1 ,2 0 3 ,3 1 1 3 9 7 ,1 0 5 1 8 7 ,1 6 3 3 ,6 2 6 ,9 1 0 6 7 2 ,6 6 2 1 ,8 4 9 ,0 7 8 2 ,5 2 1 ,7 4 0 1 ,7 2 2 ,6 0 5 2 1 0 ,5 8 4 4 ,4 8 4 ,2 4 6 8 1 5 ,7 9 4 2 ,3 3 1 ,1 2 3 3 ,1 4 6 ,9 1 7 2 ,2 0 2 ,8 3 0 2 3 9 ,0 8 5 5 ,5 9 5 ,7 6 9 1 ,6 2 5 ,0 1 5 2 ,4 5 4 ,1 6 8 4 ,0 7 9 ,1 8 3 2 ,1 6 3 ,1 7 7 3 3 6 ,3 4 1 5 ,6 7 2 ,1 8 8 1 ,7 7 9 ,8 8 7 2 ,3 4 4 ,3 7 6 4 ,1 2 4 ,2 6 3 2 ,0 3 6 ,6 7 6 3 5 8 ,4 9 5 6 ,1 9 0 ,8 8 5 2 ,0 3 9 ,1 7 5 2 ,5 7 9 ,3 0 6 4 ,6 1 8 ,4 8 1 2 ,2 6 1 ,1 4 3 3 8 9 ,5 4 7 6 ,5 9 2 ,6 7 7 2 ,4 3 0 ,5 5 9 2 ,4 3 3 ,7 9 8 4 ,8 6 4 ,3 5 7 2 ,0 5 6 ,0 7 8 4 4 0 ,6 2 2 D a te T o ta l D e p o s it s T o ta l Loans T o ta l In v e stm e n ts 1 ,3 9 2 ,2 9 6 4 6 2 ,5 5 5 4 2 6 ,6 5 2 1 ,5 6 6 ,7 4 0 4 8 1 ,6 1 2 1 ,7 7 0 ,3 4 0 M arch 29, 1939 M arch 26, 1940 A p r il 4, 1941 A p r il 4, 1942 A p r i l 13, 1944 M a rc h 20, 1945 A p r il 12, 1948 A p r il 11, 1949 A p r il 24, 1950r A p r il 9, 1951 p r—Revised, p—Preliminary.
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