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F ederal Re serve Ba n k OF DALLAS D allas, T ex a s, A u g u s t 3, 1951 CONDITION OF MEMBER BANKS, JUNE 30,1951 ELEVENTH FEDERAL RESERVE DISTRICT To the Member Banks o f the Eleventh Federal Reserve D istrict: A com p a ra tiv e statem en t o f th e con d ition o f m em b er banks in th e E lev en th F ed eral R eserve D is trict sh ow in g ch an ges in prin cip al a sset and lia b ility accou n ts d urin g th e latest re p o r tin g p eriod fr o m A p r il 9, 1951, to June 30, 1951, and d u rin g th e 12-m onth p eriod ended June 30, 1951, is p re sen ted on th e rev erse o f th is letter. T h is statem en t sh ow s th a t all m a jo r a sset and lia bility accou n ts, w ith th e ex cep tion o f U nited S ta tes G overn m en t secu rities, increased su bstan tia lly d u rin g th e 12m o n th period, a lth ou gh d u rin g th e la test re p o rtin g p eriod d ecreases in several im p orta n t a ccou n ts w e re rep orted. C h anges in th e con d ition o f m em b er banks in th e D istrict reflect la rg e ly th e tren d o f econ om ic d evelop m en ts d u rin g th e p eriod . In creases d u rin g th e 12-m onth p eriod ended June 30, 1951, w ere, in m ost cases, accu m u lated in w h ole or in la rge p a rt d u rin g th e last h a lf o f 1950 and th e first q u a r te r o f 1951 w h en risin g b u siness and econ om ic a ctiv ity w as m o st m arked. T h e ta p erin g o ff o f e co n o m ic a ctiv ity and th e m ore re s trictiv e cred it p olicies o f th e secon d q u a rter o f th is y ea r are reflected in th e ch a n ges in su ch a ccou n ts as loans and certa in m a jo r ca te g o rie s o f deposits. On June 30, 1951, total loans o f th e D is trict’s m em b er banks am ou nted to $2,420,921,000. W h ile th is figu re w as m ore than $358,000,000 la rg e r th an th e a m ou nt rep orted a y e a r earlier, it w as $9,675,000 less th a n th e am ou n t ou tsta n d in g on A p r il 9, 1951. T h e recen t decline in loans h as been p a r tly due to seasonal develop m en ts, b u t in v iew o f th e know n stre n g th o f loan dem and and the g ra d u a l in crease in d efen se fin ancin g requ irem en ts, it is p robable th a t re s trictiv e cre d it m easures, in clu d in g th e v olu n ta ry cred it restra in t p rogram , h ave been e ffe ctiv e in h old in g th e tota l loan volu m e to a low er level th an w ould oth erw ise h ave been th e case. Since m em b er banks con tin u ed t o redu ce th e ir h old in gs o f G overn m en t secu rities and o n ly p artia lly o ffs e t this decline b y in v e st m en ts in m u nicipals, tota l loans and in vestm en ts sh ow ed a n et declin e o f $14,000,000 d u rin g th e secon d q u a rter o f th e cu rren t year. A lth o u g h tota l deposits o f th e D is trict’ s m em b er banks con tin u ed to rise d u rin g th e secon d q u a rter o f th e yea r, such im p orta n t typ es o f deposits as dem and d eposits o f individuals and deposits o f states and p olitical su bd ivision s and o f th e U nited S tates G overn m en t sh ow ed m od era te-to-su b stan tial declines. T h is con tra ction o f m a jo r typ es o f deposits w as in co n tra st w ith the exp erien ce d u rin g th e com pa ra ble rep ortin g p eriod in 1950 w h en individual dem and d eposits and d eposits o f th e U n ited S ta tes G overn m en t sh ow ed substan tial increases b etw een th e A p r il and June call dates. T o ta l deposits on June 30, 1951, am ou nted to $6,627,410,000. T h e ra tio o f loans to tota l loans and in vestm en ts o f th e m em b er ban k s in th e D istrict show ed n o sign ifican t ch a n g e d urin g the la test re p o r tin g p eriod b u t was con sid era b ly h ig h e r than th e p e r ce n ta g e rep orted on June 30, 1950. On th e oth er hand, th e ra tio o f cash and e xch a n ge to tota l d e p o sits rem ain ed rela tiv ely con sta n t d u rin g th e 12 m on th s. Capital a ccou n ts con tin u ed to in crease and on June 30, 1951, am ou nted to $453,210,000, or $12,588,000 la rg er than on A p ril 9, 1951, and alm ost $50,000,000 m ore th an th e am ou nt rep orted on June 30, 1950. Y o u rs v e r y tru ly, R . R . G IL B E R T 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 June 30, 1951 p Item Member banks in Eleventh D istrict____ Loans, including overdrafts_____________ U. S. Governm ent obligations, direct and guaranteed__________________ __ ______ Obligations o f states and political sub divisions______________________________ Other securities_______________________ _ A p r il 9, 1951r June 30, 1950^ 631 630 626 2 .4 2 0 .9 2 1 .0 0 0 2 .4 3 0 .5 9 6 .0 0 0 2 ,0 6 2 ,1 6 1 ,0 0 0 2 .0 4 6 .9 2 6 .0 0 0 2 .0 5 5 .8 5 3 .0 0 0 2 .2 7 4 .8 9 6 .0 0 0 3 0 3 .0 7 6 .0 0 0 2 9 7 .8 4 6 .0 0 0 2 6 7 .7 9 7 .0 0 0 7 9 .4 3 6 .0 0 0 8 0 ,1 0 0 ,0 0 0 6 1 .3 4 4 .0 0 0 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 - ____ __________________ 4 .8 5 0 .3 5 9 .0 0 0 4 .8 6 4 .3 9 5 .0 0 0 4 .6 6 6 .1 9 8 .0 0 0 7 .1 1 3 .0 8 6 .0 0 0 7 .0 7 1 .8 1 0 .0 0 0 6 .8 2 5 .5 4 6 .0 0 0 Individual— Demand deposits__________ Individual— Tim e deposits______________ Deposits o f U. S. Government, including postal savin gs___________________ ____ Deposits o f states and political sub divisions______________________ ______ Deposits o f banks______________________ Other deposits__________________________ 4 .4 1 6 .7 8 3 .0 0 0 4 .4 2 7 .6 4 2 .0 0 0 4 .2 7 2 .6 2 0 .0 0 0 5 6 3 .5 2 4 .0 0 0 5 4 5 .7 3 7 .0 0 0 5 4 8 .9 3 4 .0 0 0 1 7 9 .2 7 7 .0 0 0 1 9 4 .7 7 8 .0 0 0 1 0 1 .1 4 3 .0 0 0 5 6 0 .2 1 5 .0 0 0 5 9 5 .3 6 1 .0 0 0 5 8 4 .2 9 5 .0 0 0 8 3 7 .1 8 1 .0 0 0 7 6 1 .1 9 2 .0 0 0 8 1 7 .3 0 7 .0 0 0 7 0 .4 3 0 .0 0 0 6 7 ,9 6 5 ,0 0 0 6 8 .8 9 0 .0 0 0 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 ________ 6 .6 2 7 .4 1 0 .0 0 0 6 .5 9 2 .6 7 5 .0 0 0 6 .3 9 3 .1 8 9 .0 0 0 4 5 3 .2 1 0 .0 0 0 4 4 0 .6 2 2 .0 0 0 4 0 3 .3 1 2 .0 0 0 Cash and balances due from banks.......... B orrow ings from Federal R eserve Bank All other borrow ings____________________ R atio o f loans to total loans and invest m ents......... ................. ..... ........... ................ Ratio o f cash and exchange to total deposits_________________ _____________ 2 .1 6 7 .5 6 1 .0 0 0 2 .1 0 2 .9 8 7 .0 0 0 2 .0 6 8 .7 3 8 .0 0 0 2,222,000 1 6 0 ,0 0 0 4 9 4 ,0 0 0 8 7 0 ,0 0 0 4 9 .9 % 5 0 .0 % 4 4 .2 % 3 2 .7 % 3 1 .9 % 3 2 .4 % 100,000 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 , 1939-1951 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 th ou san ds o f d ollars) June 30 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 T o ta l Loans and In v e stm e n ts T o ta l U . S. G o v. S ecs. T o ta l C a p it a l A c c o u n ts 1939 1 ,4 3 6 ,9 7 7 4 7 4 ,6 8 8 4 1 9 ,0 2 9 8 9 3 ,7 1 7 2 7 9 ,9 9 8 1 6 6 ,3 5 1 1940 1 ,5 7 1 ,4 8 9 4 8 9 ,6 5 5 4 1 8 ,5 8 7 9 0 8 ,2 4 2 2 7 5 ,8 1 9 1 7 3 ,5 1 3 1941 1 ,8 1 3 ,6 5 7 5 6 9 ,4 7 5 4 8 2 ,9 9 4 1 ,0 5 2 ,4 6 9 3 3 2 ,0 2 0 1 8 1 ,7 1 9 1942 2 ,0 9 4 ,7 5 7 5 9 1 ,4 7 7 6 5 6 ,0 3 2 1 ,2 4 7 ,5 0 9 5 0 0 ,0 3 4 1 8 8 ,2 8 8 1943 3 ,1 1 5 ,1 1 8 5 4 4 ,6 5 7 1 ,4 8 8 ,7 3 9 2 ,0 3 3 ,3 9 6 1 ,3 4 6 ,1 8 5 1 9 5 ,5 8 4 1944 3 ,8 6 6 ,0 0 6 7 4 1 ,9 7 0 1 ,9 3 3 ,5 2 7 2 ,6 7 5 ,4 9 7 1 ,8 1 3 ,1 2 7 2 1 5 ,3 2 7 1945 4 ,9 3 3 ,9 5 5 9 2 1 ,0 4 8 2 ,5 2 3 ,3 6 5 3 ,4 4 4 ,4 1 3 2 ,3 8 6 ,6 8 6 2 4 5 ,6 6 9 1946 5 ,4 6 7 ,8 6 0 1 ,1 4 8 ,9 9 6 2 ,7 8 0 ,9 2 1 3 ,9 2 9 ,9 1 7 2 ,5 9 0 ,1 2 2 2 8 3 ,9 3 6 1947 5 ,2 8 1 ,2 1 9 1 ,3 1 9 ,3 8 7 2 ,4 3 1 ,7 1 3 3 ,7 5 1 ,1 0 0 2 ,1 8 9 ,8 5 7 3 0 8 ,2 1 5 1948 5 ,7 0 4 ,9 3 1 1 ,6 4 0 ,4 9 4 2 ,4 5 6 ,8 9 4 4 ,0 9 7 ,3 8 8 2 ,1 6 2 ,5 9 8 3 3 3 ,9 5 4 1949 5 ,6 3 9 ,9 1 8 1 ,7 3 8 ,0 2 8 2 ,3 7 5 ,1 4 4 4 ,1 1 3 ,1 7 2 2 ,0 6 8 ,3 1 0 3 6 2 ,3 4 2 1950r 6 ,3 9 3 ,1 8 9 2 ,0 6 2 ,1 6 1 2 ,6 0 4 ,0 3 7 4 ,6 6 6 ,1 9 8 2 ,2 7 4 ,8 9 6 4 0 3 ,3 1 2 1951p 6 ,6 2 7 ,4 1 0 2 ,4 2 0 ,9 2 1 2 ,4 2 9 ,4 3 8 4 ,8 5 0 ,3 5 9 2 ,0 4 6 ,9 2 6 4 5 3 ,2 1 0 r—Revised, p—Preliminary.
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