The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Eonthiy Review of Credit and Business Conditions, January, 192* ~ Deceaber, 1922, Page ACCEPTANCES Broadening market for bankers acceptances, July - - - - --- - - 12 Regulations, April — ----— — — --~ - 3 AUTOMOBILES Production, July - - - - - - - - - - - - - - - - - - - - - - ~ ~ 8 BILL M^RKxlT Monthly beginning January - - - - - - - - - - - - - - - - - - - - 3 BOND MARKET Monthly beginning February - - - - - - - - - - - - - - - - - - 4 BUILDING Contracts let, 27 Northeastern states, October - - - - - - - - - 11. Costs, and •aparbaent rents in Nen* York City, Karch, p. 11; November, p .S. Volune New York and Northern Nor Jersey, monthly, January9 November, January - - - - - - - - - - - - - - - - - --27 Northeastern states, monthly, July-iJovember, July - - - - 8 BUSINESS FAILUR3S (See Failures) CHAIN STORES (See Retail trade) CHARTS Acceptances Cpen market rate, compared tdtfc buying rate of Federal Reserve Bank of He1? York, 1921-22, July - - - - - - - - - 1 Bank deposits (See Deposits) Bank loans (See Loans) Bank note circulation (See Note circulation) Bonds (See Securities) Building Cost, compared -vith rents of apartments in Nev York City since, 1917, March, p .11;June, p .7; November, p .9, Second Federal Reserve District, average for 1921t amd first four months of 1922, June - - - - - - - - - - - 11 Volume, Hew York »ind Northern New Jersey, since IS 19, Mr.y------------------------ ------- - - 12 Car loadings On railroads of the United States, since 1919, July, p . 11; Novecbsr, p . 8 . Weekly, Janu*»ry~8eptember, 1921-22, October - -- -- -- Index to Monthly Review, e t c . - 2 — January, 1922-Decs>mbor, IS 23 Page CHARTS (CONTINUED) •Checks Chocks drawn, compared with commercial loans, 1920~ April. 1921, June - -- -- -- -- -- -- -- -- -- --- 1 Drawn in 140 centers outside New York, 1921 to August, 1922, October - -- - — - 2 Coal Loadings, 1921-22, September, p .8 ; October, p .8 . Commercial paper Monthly beginning with January ----. - -- -- -- -- -- ~ 4 Open market rates, compared with discount rate of Federal Reserve Bank of New York, 1921-June, 1922, July Commodities Production in basic industries, April, p*9; May, p .9: July, p .7; August, p .9; October, p .2; December, p .9. Crops Estimated value, 1922 compared with 1921, October - — - - - II Deposits Reporting banks, since 1918, May - --- - ------ — - - 2 Savings banks, since 1918, February, p .2; March, p .2; June, p .2; September, p .2, Turnover, annual rate in different cities since 1919, April, p .2; October, p .3. Earnings New York State factories, 1914-21, February - - - - - - - - - 8 Employment New York State and New York City, since 1918, September - - - 7 New York State factories, 1921-August, 1922, October - - - - 2 New York State, December - ------------- - ------ 8 Second Federal Reserve District, M a y --- ------------8 United States, industrial establishments, April - ------- 8 Wage payments and number of workers in New York State factories, since 1918, August --- - ------- - - - - - 8 Exchange Foreign, Depreciation of; since 1919, April, p ,5; August, p .5; September, p .4; December, p . 6. Failures Compared with changes in wholesale prices, 1857-1921, February - - - -- -- -- -- -- - — ------ - - — - 1 1 Percentage of, to the number of firms in business, 1866-1921, February -------------------------- 11 1915-1922, September, p . 1 1 ; November, p .11. Federal Reserve Bank of New York Discount rates, comparad with open market rates on differ ent kinds of paper, 1921, January - ---------- - - 2 Earning assets, 1920-1922, March - ------ - ----- --- 1 Federal Reserve Banks Earning assets, 1917-1921, January -----------------------1 1920-1922, March ------------------------* Reserves, 1917-21, January 1 Federal Reserve notes Circulation, 1916-22, September, p *l; October, p*l. Index to monthly Review, ©Tc January, 1922->e camber, 1922 Page CHARTS (CONTINUED) Federal Reserve System Member banks* borrowings, loans on stocks and bonds, and holdings of United States securities, in Second Dis trict, 1921-22, April -----------------------1 Reserve ratios, 1921, March - - - - - - - - - - - - - - - - 12 Financing, Foreign United States and United Kingdom, by quarters, 1921-April, 1922, June, p .4; October, p.4* Freight cars Net surplus or shortage, 1907-22, November - -- -- -- 2 Gold Reserves of central banks, Ratio to paper currency, June Stocks, 1920-1922, December — ———— — — — — — —— — — — — — Government debt, 1917£22, December - - - - - - - - - - - — - Changes in type of short-dated debt outstanding, 1917-24, December - -- -- -- -- -- -- -- -- -- -- -- -Months of maturity of the short-dated debt 1922-25, March - -- -- -- -- -- -- -- -- -- 1921-26, J u l y ------------ --------------Grain Loadings, weekly, 1921-22, September - -- -- -- -- -- - 9 Interest rates Call loans, 1919-22, Hay - -- -- -- -- -- -- -- -- - 3 Compared with d* count rates of Federal Reserve Bank of New York, 1921, January - -- -- -- -- -- ------2 4-6 months commercial paper and 90-day bankers' accept ances, 1921-22, October,- - -- -- -- -- -- -- -- 1 90-day bankers' acceptances and 4-6 months Treasury cer tificates, compared ^rith commercial bank discount rate on commercial paper, 1919-22, May - - - - - - - - - - - 1 Open market rate Compared with commercial bank discount rate, 1919-22, May - -- -- -- -- -- -- -- -- -- -- -- -- l On prime 4-6 months commercial paper, November - - - - 1 Typical seasonal changes in 1890-1908 and 1917-1921, February - ------ — ---------- ----------- 1 Loans Commercial, compared with checks dramn 1920-22, June - - - - 1 Federal Reserve Banks to member ban^e, 1921-22, October - - 1 Reporting banks, 1918-22, May - ------ - - — - -- - 2 Loans and investments Commercial loans and total investments, reporting member banks in the United States and New York City, 1921-22, August, p .l ; September, p .l ; October, p .l . Federal Reserve Banks, 1920-22, December - - -- 1 Member banks' borrowings, loans on ctocvs and bends, and holdings of United States securities, in Second Federal Reserve District, 1921-22, April - -- -- -- -- -- -- 1 Member banks in principal cities, 1920-22, December - - - - 1 Index to Monthly Review, e tc January, 1922«Decem’ )er, 1522 P a ge CHARTS (CONTINUED) Kotor vehicles, Production in the United States each month in 1922, J u l y ---------- ----- ---------------- 8 Note circulation Note circulation and prices, three countries, 1922, December - - - - - - - - - — . . . . . . . . — - ~~~ - - - 6 Pig iron Production, United States, 1885-1921, Larch - -- -- -8 Prices Prices anci note circulation, three countries, 1922, December — 6 20 basic coraaodities, 1919-22, November - -- -- -- -1 Compared with cost of living, 1916-22, Kay - - - - 7 Compared with Department of Labor index, 1916-22, April - - - - - w - - - - - - - - - - - - - - - 7 Wholesale, (Department of Labor index) 1921-22, October - - 2 4 countries 1915-22, January, p*7; April, p . 6 : Juno, p . 6 . 1919-22, Auguct, p«6 . Wholesale, United States, according to two indices, 192122 , July, p . 6 ; September, p ,7. 'Wholesale United Statas and England, weekly, 1922, October - - - 6 Production in basic industries, April, p*9; May, p .9; July, p .7; August, p .9; October, p .2; December, p ,9 . Railroads Earnings, United States, in first six months of 1913-22, September - -- -- -- -- -- -- -- -- -- -- -9 Rent8 Apartment, in New York City, since 1917, March p»ll; June, p .7; November, p .9, ' Retail trade Chain shoe stores, 1919-22, June - -- -- -- -- -- -- 10 Compared vdth wholesale sales, Second Federal Reserve Dis trict, 1919-22, K a y --- -------------------11 Department and apparel stores, and mail order houses and chain stores, 1919-21, February - -- -- -- -- -- - 10 Department stores, 1920-21, January - - - - - - - - - - 11 Department stores in Second Federal Reserve District and mail order housoe, 1919-22, April, p*ll; May, p.10; June, p .9; July, p.S* Department stores, seasonal variation, 1919-21, February - 10 Department s to re s , 3econd D is tr ic t 1919-22, March, p . 10; September, p#10. 1921-22, August, p .11; O ctober, p .10; November, p .1 0 . Department s to r e s , United S tates, and m ail order houses, 1920-22, December - - - - - - - - - - - - - - - - - - 11 S e cu ritie s Bonds, p r ic o s 1920-21, Januarv - - - - - - - - - - - - - - - - - 5 1921-22, J u ly ------------------------- ---------------------------------3 1912-22, September - - - - - - - - - - - - - - - - 3 Index to Montoiy Review, etc* January, 1922-Deeeraber, 1922. CHARTS (CONTINUED) 46 stocks and 50 bonds, pricee, 1920-21, January - - - - - - 5 Liberty and corporation bonds, and British war loans, prices, 1919-22, May, p .4; December, p .3* Railroad bonds and representative stocks, Prices of, and sales of stocks, 1921-22, August 3 Stocks, prices and transactions, 1919-22, May - - - - - - - 3 Trade Foreign United States and British, 1919-22, April, p*6 ; August, p .5 . Wages Compared with prices, 1916-22, August - — - -- -- -- - 7 Hiring rate for unskilled labor, Second District, 1919-22, November - -- -- -- -- -- -- -- -- -- -- -- 1 New York State Hiring wage for unskilled labor, 1918-22, May - - - - - 8 Payments compared with number of workers employed, 1918-22, Kay, p*8 ; November p .7. 'Wholesale trade Compared with retail, 1919—22, May — — — — — — — — — — — — — 1 1 Diamond cutters and jewelry manufacturers in Second Dis trict, 1919-21, January - -- -- -- -- -- -- -- -- 10 Second Federal Reserve District, January, p .10; February, p . 9 ; June, p . 8 ; July, p .9; September, p .10 ; November, p • 10 . 1919-20, October - -- -- — - -- -- -- - — 9 Second Federal Reserve District, price changes, nnd esti mated physical volume, 1919-22, December - -- -- -- --1 0 Weighted index, 1919-22, March, p .9; April, p .10. CLEARING Stock clearing operations by the Stock Clearing Corporation, June - -- -- -- -- -- -- -- -- -- -- -- -- -- - - 3 GOAL Bituminous coal production, total for first nine months of 1919 to 1922, November --------- ----------------- 7 COMMERCIAL PAPER Monthly beginning 3tjci'V±'j ~ - 4 COMMODITIES Production of basic commodities, United States, monthly beginning January - -- -- -- -- -- -- -- -- -- -- -- -- -- - 8 Stocks, United States, January, p .8 ; February-May; August, p .9; October, p . 8 . CONSTRUCTION (See Building) COST OF LIVING January, p,8 ; February, p .6 ; March, p .7; June, p .7; July, p .7 ; August, p .7; October, p ,7 ; November, p*6 ; December, p .7. Compared with wholesale prices, May - -- -- -- -- -- -- 7 CREDIT Conditions, monthly beginning January - -- -- -- -- -- -1 Demands in 1921, March . 12 «» 5 •> Index to Monthly Review, e t c . January, 1922-December, 1922. CREDIT (CONTINUED) Sources of the demand for loans and currency (extract from address by W. F. 0 . Harding on "The Federal Reserve System as related to American Business") January - - - - — - — - 12 CROPS Condition, June, p .11; July, p JL1; September, p .9; October, p . 10 ; Novertber, p. 1 1 . C0RR3KCY Defects’ before the Federal. Reserve Act, June - - - - - - - - - 12 Replacing worn currency through the Reserve Banks, August ~ - 12 DEPARTE3NT STORES (See Retail trade) DEPOSITS Savings banks, monthly (except October) bogirming January - - - 5 Turnover October, p .2; Decomber, p . 2 , In different citiet, 1919-22, April ------ - - - - - - 2 EMPLOYMENT Monthly beginning January - - - - - - - - - - - - - - - - - - EXCHANGE Foreign, monthly beginning January - - - - - - - - - - - - — 9 6 FAILURES Business failures, monthly, January-Juno, January, p.11; July, p .U ; September, p .11; November, p. 11. IBDERAL RESSRVjS BANK OF KE«' YORK Operation f during 1921, February - - - - - - - - - - - - - - -12 FEDERAL RESERVE BANKS Banking agents for the Government, September - -- -- -- - - - 1 2 FEDERAL RESERVE NOTES Security *38hind, April - -- -- -- -- -- -- -- - — - - 12 FEDERAL REStiRV^ SYSTa: (SERIES) The broadening market for bankers* acceptances, July - - - - - 12 Course of credit deraar.de in 1921, Karch - -- -- -- -- -- 12 Currency defects before the Federal Reserve Act, June - - - - 12 Federal Roserve Banks as banking agents for the Government, ----- — - - - - 12 September - Membership in the Federal Reserve System, November - - - - - - 12 New Yo *k Reserve Bank operations during 1921, February - - - - 12 The relation of gold movements to the Reserve Banks, October, - 12 Replacing worn currency through the Reserve Banks, August - - 12 Security behind Federal Reserve notes, April - -- -- -- --1 2 Sources of the der.and for lo«ns and currency (extract from address by 17. P. 0 . Harding, on "The Federal Reserve System as related to American Business") January *.«*.«» - - - 12 Vfhat the reserve ratio means, December - -- -- -- -- -- - 1 2 FINANCING Foreign, New York and London, half yearly, 1921-22, August - - 4 New issues, monthly beginning February - -- -- -- -- -- - 4 FOREIGN EXCHANGE (See Exchange) - 7 - Index to Monthly Review, e t c , January, 1922~December, 1922. FOREIGN TRADE (See Trade) FREIGHT (See Railroads) Page GOLD Movements, monthly beginning January - - - — - — ---- - - 6 Relation of gold movements to the Reserve Banks, October - - ~ ~ 12 Reserves, and exchange rates, June 5 GOVERNMENT FINANCE November, *p.2; December, p .4 . HARDING, V. P. G. Address before Washington, D» C C h a m b e r of Commerce, Ex tracts from, January ~ ~ ~ ~ ~ 12 IMMIGRATION August-------- - - ------ ~ ----- ------- ----- 8 INTEREST RATES Stock market money rates, .monthly beginning’January - - ~ ~ — 4 LIBERTY BONDS (See Securities) MEMBERSHIP In the Federal Reserve System, November MONEY RAXES (See Interest rates) PIG IRON Production, March PRICES Wholesale Domestic, monthly beginning January World, monthly beginning January - — --- — ~~~~~ *orld, and note circulation, December - -- -- -- -- - -- PRODUCTION OF BASIC COMMODITIES, UNITED STATES Monthly beginning January ------ — --- --------- RAILROADS Earnings, September ~ ~ ~ ~ ~ ~ — ~ ~ ~ ---- ------Freight traffic, February, p .11; May, p . 1 2 ; June, p. 10 ; July, p .11; September, p . 8 ; November, p .8 ; December, p.3Q. RENTS Apartment, in New York City, March, p .11; June, p .7; November, p .9. RESERVE RATIOS lhat the reserve ratio means, December RETAIL TRADE Chain sh6e stores, June — ~~~ — Chain stores, monthly beginning April - -- -- -- -- -- -Department stores, monthly beginning January - -- -- -- - - 12 8 8 7 $ 8 9 12 10 11 10 w3 w Index to Monthly Review, e t c , January, 1922-Deccm'oer, 1922. P a go SECURITIES Redemption of Victory notes aid war-savings certificates, December United States Government, monthly beginning January - « - - - Victory note?, redemption January ~ - ~ - - - - - - - - « - - - V;ar-savinge certificates, redemption, December - -- -- -- -SECURITIES - NEw ISSUES (See Financing) SHIPPING inferId's sea-going, September - -- -- -- -- -- -- -- -- STOCK MARKET Monthly beginning February - -- -- -- -- -- -- -- -- -Money rates (See Interest rates) STOCKS (See Securities) TRADE Balance, 1921-22, May, p«6 ; September, p .5. Foreign, monthly beginning January - -- -- -- -- -- -- -Retail (See Retail trade) Wholesale (See Wholesale trade) 5 3 5 5 5 3 6 UNITED STATES SECURITIES (See Securities) VICTORY NOTES (See Securities) WAGES Changes in rates, monthly beginning with January - - - - - - - - 9 Railroad, and freight rates, July - -- -- -- -- -- -- -- 1 1 WAR SAVINGS CERTIFICATES (See Securities) WHOISSAIE PRICES (See Prices) WHOLESALE TRADE Monthly beginning January - - - - - - - - - - - - - - - - - - 9
@FedFRASER