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STATEMENT FOR THE PRESS St. 1+027, Released f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , A p r i l 18; not e a r l i e r . F e d e r a l Reserve Board, A p r i l 17, 1924. CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate r e d u c t i o n s of $61,000,000 i n l o a n s and investments and of $82,000,000 i n n e t demand d e p o s i t s a r e shown in the Federal Reserve B o a r d ' s weekly c o n s o l i d a t e d statement of c o n d i t i o n on A p r i l 9 of 755 member banks i n l e a d i n g c i t i e s . Loans and d i s c o m t s decreased by $46,000,000, t h e l a r g e r d e c r e a s e of $57,000,000 i n loans on c o r p o r a t e s e c u r i t i e s being o f f s e t in p a r t by i n c r e a s e s of $4,000,000 i n loans on U.S. Government s e c u r i t i e s and of $7,000,000 in " a l l o t h e r " , l a r g e l y commercial, loans ' * and d i s c o u n t s . Investments i n U. S» bonds and i n c o r p o r a t e s t o c k s and bonds show i n c r e a s e s of $12,000,000 and $2,000,000, r e s p e c t i v e l y , while h o l d i n g s of Treasury v n o t e s and c e r t i f i c a t e s of indebtedness show aggregate r e d u c t i o n s of $29,000,000. Member banks i n New York City r e p o r t a r e d u c t i o n of $68,000,000 i n l o a n s on c o r p o r a t e s t o c k s and bonds and s l i g h t i n c r e a s e s i n loans on U. S„ Government o b l i g a t i o n s and i n a l l o t h e r l o a n s and d i s c o u n t s . Investments of t h e s e banks i n U. S. bonds and in c o r p o r a t e s e c u r i t i e s i n c r e a s e d by $20,000,000 and $5,000,000, r e s p e c t i v e l y , and t h e i r investments i n Treasury n o t e s and c e r t i f i c a t e s of i n d e b t e d n e s s d e c l i n e d by $19,000,000. Of the t o t a l r e d u c t i o n of $£2,000,000 in n e t demand d e p o s i t s $69,000,000 was r e p o r t e d f o r t h e New York d i s t r i c t and $17,000,000 - f o r the Kansas City d i s t r i c t , s m a l l e r i n c r e a s e s and d e c r e a s e s f o r o t h e r d i s t r i c t s n e a r l y o f f s e t t i n g each o t h e r . Time d e p o s i t s i n c r e a s e d by $11,000,000, mostly o u t s i d e of New York C i t y . Government d e p o s i t s show p r a c t i c a l l y no change. ,1 1 r 1 Reserve balances of a l l r e p o r t i n g banks show an i n c r e a s e of $4,000,000, while r e s e r v e balances of the New York City banks show an i n c r e a s e of $10,000,000. Cash in v a u l t i n c r e a s e d $13,000,000 f o r a l l r e p p r t i n g members and *^,000,000 f o r t h e New York City members. Borrowings of a l l r e p o r t i n g i n s t i t u t i o n s from t h e Fedbral Reserve bsnkd increased from $300,000,000 t o $306,000,000. The l a r g e r i n c r e a s e of 328,000 000 r e p o r t e d by the New York C i t y members was p a r t l y o f f s e t by d e c l i n e s i n some of the o t h e r r e p o r t i n g centers. A summary of changes in the p r i n c i p a l a s s e t s and l i a b i l i t i e s of r e p o r t i n g members during t h e week and t h e y e a r ending A p r i l 9, 1924, f o l l o w s : I n c r e a s e or d e c r e a s e d u r i n g Year Week Loans and d i s c o u n t s , t o t a l . Secured by U. S. Government o b l i g a t i o n s Secured by s t o c k s and bonds . . . . . All o t h e r . , Investments, t o t a l U. S. bonds . . U. S. Treasury n o t e s . . . . . . . . . U. S. C e r t i f i c a t e s of indebtedness . . Other bonds, s t o c k s and s e c u r i t i e s . . ;( , - $46,000,000 +$231,000,000 + 4,000,000 - 57,000,000 + 7,000,000 - 45,000,000 + 67,000,000 + 209,000,000 - 15,000,000 - 164,000,000 - 14,000,000 - 184,000,000 + - 12,000,000 13,000,000 Reserve balances with F. R. Banks Cash i n v a u l t + 4,000,000 + 52,000,000 Net demand d e p o s i t s . . Time d e p o s i t s . . . . . Government d e p o s i t s . . + 11,000,000 - 52,000,000 - + 290,000,000 - 99,000,000 £5,000,000 Total accommodation a t F. R. Banks + - 90,000,000 c. - 11,000,000 + 2,000,000 + 13,000,000 6,000,000 - 59,000,000 * 93,000,000 - 7,000,000 He leased f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , A p r i l I S , 1924; n o t e a r l i e r . <,* ,, n o• h-Uc (a. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES ; ( I n thousands of d o l l a r s ) Apr, 2 , 1$24 755 Oct. 10, I923 -^Q Apr. 11, 1923 7,998,630 223,73s 3 ggy 210 71991,286 257 452 3 £64* 713 81033] 757 ? 7 ? 41 ft % - 7go'fipo 3SS 12,055,929 12,102,234 11,955,922 U^^oJfT 272,S67 271,754 274,029 '282^206 1,064,729 1,058,314 1,045,385 l»035,'oi4 71,645 67,343 85,997 104,928 U. S. Treasury n o t e s U. S. C e r t i f i c a t e s of i n d e b t e d n e s s 736,864 114,057 754,454 124,634 875,390 99,365 #92^075 173'll2 Other bonds, s t o c k s and s e c u r i t i e s 2,252,545 2,139,838 2,159,'946 16,568,636 2,250,617 16,629,350 16,475,926 16,501,317 1,439,107 1,435,579 1,372,450 1,'327*452 282,217 269,076 305^00 ' 223,200 Number of r e p o r t i n g banks _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Loans and d i s c o u n t s , g r o s s : Secured by U. S. Government o b l i g a t i o n s Securer by s t o c k s and bonds ( o t h e r than U. S. s e c u r i t i e s ) A l l o t h e r loans and d i s c o u n t s T o t a l l o a n s and d i s c o u n t s U. S. Pre-war bonds - U. S. L i b e r t y bonds U. S. T r e a s u r y bends T o t a l l o a n s and d i s c o u n t s and investments Reserve balance with F e d e r a l Reserve Banks Cash i n v a u l t Net demand d e p o s i t s Time d e p o s i t s Government d e p o s i t s B i l l s p a y a b l e and r e d i s c o u n t s w i t h F e d e r a l Reserve Banks: Secured by U. S. Government o b l i g a t i o n s Another R a t i o of b i l l s payable and r e d i s c o u n t s w i t h Federal Reserve Banks t o t o t a l l o a n s and i n v e s t m e n t s , p e r c e n t _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ n Apr. Q, 1924 755 227,642 3,829,657 11,163,442 11,245,812 11,059,895 ll,251,'l09 4,241,000 237,l6s 4,230,384 237,535 4,010,199 209,040 3^951*362 145,480 160,050 *159.751 2Q7 QPO , 0 1.8 3.6r 336,'368 « # I n c l u d e s Victory n o t e s , •Revised f i g u r e s . Q nS7 2.4 st> Released f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , A p r i l 18, 1924, 4027b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, APRIL 9, 1924. ( I n thousands of d o l l a r s ) F e d e r a l Reserve D i s t r i c t Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. Total tftiniber of r e p o r t i n g banks 4) 110 55 79 ?6 36 104 35 26 72 52 67 755 Eioans and d i s c o u n t s , g r o s s : Secured by U.S.Govt, oblic;. 11,815 92,4o6 Secured by s t o c k s & bonds 244,981 1,584,551 A l l Other loans & d i s c o u n t s 6oo,797 2,599,631 T o t a l loans and d i s c o u n t s 857,593 [J. S, Pre-war bonds 13,164 U. S, L i b e r t y bonds 78,402 [J. S» Treasury bonds 4,321 [J, S. Treasury notes 18,448 U. S. C e r t i f i c a t e s of Indebtedness 6,805 Other bonds, s t o c k s and securities 170,797 T ot al l o a n s and d i s c o u n t s and investments 1,,149,530 11,654 23,857 10,284 8,552 34,931 9,530 3,518 6,622 3,339 11,134 227,642 271,563 4 0 7 . l 6 i 128,032 69,428 588,975 145,153 46,348 87,059 64,025 192,381 3,829,657 363,995 722,446 337,570 350,837 1,167,135 313,345 194,594 319,286 212,661 816,333 7,99%,630 4 ,276,568 647,212 1,153,464 475,886 428,817 l.791,04l 468,028 244,460 412,967 280,025 1,019,848 12,055,929 272,867 25,883 51,434 10,6/9 48,231 28,822 14,726 9 , 0 7 1 12,04l 19,467 23,833 15,516 96,094 1,064,729 499,334 48,742 108, 300 27,275 14,576 102,488 23,897 15,259 37,807 12,505 71,645 13,340 21,724 2,146 12,166 780 2,966 1,440 2,717 4,223 1,432 4,390 384,616 32,541 52,047 7,853 4,859 123,211 15,211 30,305 15,271 13,874 38,628 736,864 6,99 7 8,277 2,724 4,262 22,413 3,497 3,46s 1,489 4,834 17,127 114,057 808,279 159,413 305,180 52,283 41,867 338,218 88,817 24,107 54,925 15,765 162,894 2,252,545 938,301 1,,679,722 596,989 510,539 2,413,370 619,356 327,450 32,164 6,074,189 109,023 35,771 30,638 13,236 537,466 347,910 Reserve balance w i t h F,R.Bk. 82,844 674,897 68,283 Cash i n v a u l t Net demand d e p o s i t s 20,012 79,954 15,148 794,069 4,802,678 Time d e p o s i t s 285,589 943,482 669,361 130,232 15,803 65,890 27,821 31,774 5,374 8,951 31,414 5,76l 5,825 2,951 75,725 33,092 8,533 4,127 18,086 15,275 7,923 22,909 8,149 13,727 13,307 19,493 4,567 115 870 8,205 Government d e p o s i t s B i l l s payable and red i s c o u n t s with F, E* Bank* Secured by U.S.Govt, o b i i g . All other 5,790 43,949 21,473 43,799 24,895 7,344 55,404 881,383 333,307 277,938 1,493,880 357,301 626,931 165,601 179,739 814,580 200,037 6,353 12,603 9,287 33,791 205,120 10,525 9,496 211,697 1,373,814 16,568,636 95,262 1,439,107 282,217 21,713 720,942 11,163,442 388,935 231,951 8 4 , 3 0 1 131,596 86,248 592,664 4,241,000 3,850 8,908 22,797 237,168 1,655 500 3,501 23,565 3,969 145,480 l60,050 R e l e a s e d f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , A p r i l 18, 1924; n o t e a r l i e r . gt PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN 1 F, R« BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES ( I n t h o u s a n d s of d o l l a r s ) New York C i t y Apr, 9 Apr. 2 6? 6? Number of r e p o r t i n g banks Loans and d i s c o u n t s , g r o s s : S e c u r e d by U. S. Govt, o b l i g a t i o n s 85,244 83,759 S e c u r e d by s t o c k s and bonds 1,388,649 1,456,468 A l l o t h e r l o a n s and d i s c o u n t s 2,283,723 2,252,684 T o t a l l o a n s and d i s c o u n t s l+o27c. C i t y of Chicago Apr. 9 Apr. 2 48 48 25,944 433,159 667,205 A l l F, R. Bank c i t i e s Apr. 9 Apr. 2 255 255 F« R, Branch c i t i e s Apr. 9 Apr. 2 200 201 24,982 433,916 655,090 153,522 2,648,067 4,957,763 151,727 39,712 39,336 2,711.801 644,313 639,893 4,954,325 1,650,969 1,647,373 3 , 7 5 7 , 6 l 6 3 , 8 2 2 , 9 4 1 1 , 1 2 6 , 3 0 8 1,113,988 7,759,352 7,817,853 2,334,994 Other selected c i t i e s Apr. 2 Apr, 9 300 300 34 408 32 675 537,277 535*516 1 , 3 8 9 , 8 9 6 1,389^588 2,326,602 1,961,583 1,957,779™ U. S. P r e - w a r bonds 40,129 40,025 4,195 4,195 90,495 90,2o6 75,562 75,0)6 106,810 U. S. Liberty bonds 436,248 416,965 47,753 53,610 661,536 653,324 U. S . T r e a s u r y bonds 14,695 13,481 4,753 4,762 35,003 31,166 237,694 17,311 238,539 16,871 U. S . T r e a s u r y n o t e s 355,390 370,221 83,543 89,018 544,152 560,711 125,64? 126,21? 165,499 19,331 67,065 106,512 166,451 19,306 67,526 30,000 37,014 13,864 13,885 71,435 81,214 30,089 31,074 12,533 12,346 589,107 583,935 159,071 162,160 1,195,165 1,193,727 609,433 609,652 447,947 447,238 U. S . C e r t i f i c a t e s of i n d e b t e d n e s s O t h e r bonds, s t o c k s , and s e c u r i t i e s T o t a l l o a n s and d i s c o u n t s and i n v e s t m e n t s R e s e r v e b a l a n c e w i t h F. R. Bank Cash i n v a u l t 5 , 2 2 6 , 1 8 5 5 , 2 8 4 , 5 8 2 1 , 4 3 9 , 4 8 ? 1 , 4 4 1 , 6 l S 10,357,13% 1 0 , 4 2 8 , 2 0 1 3 , 4 3 0 , 7 3 0 3 , 4 2 3 , 9 9 1 625,640 6l5,0B3 138,631 140,799 1,031,068 1,027,68? 240,186 237,743 l6?,853 170]149 64,758 60,780 28,931 2?,6s? 141,190 134,450 61,352 58,481 79,675 ?6,'l45 Net demand d e p o s i t s 4,302,294 4,364,625 Time d e p o s i t s 643,081 641,393 Government d e p o s i t s 58,754 58,754 B i l l s p a y a b l e and r e d i s c o u n t s w i t h F. R, Bank" Secured by U. S. Govt, o b l i g a t i o n s 64,500 *60,400 m o t h e r 29,714 6,007 R a t i o of b i l l s p a y a b l e and r e d i s c o u n t s w i t h F» R. Bank t o t o t a l l o a n s and i n v e s t m e n t s , p e r c e n t 1.8 1.3 2,780,768 2,777,158 994,334 373,403 14,018 9,120 3,835 -9 7,669,517 1 , 9 2 2 , 3 5 4 1,915,090 2,058,056 2,054,262 1,270,275 1,269,200 151,393 151,426 66,906 66,906 998,616 7 , 5 9 0 , 8 8 0 372,131 14,018 13,008 5,558 1.3 89,870 75,684 1.6 *101,592 54,431 34,599 37,463 1.5 2.1 ^Revised f i g u r e s . 37,276 1 6 6 l 205 912,669 '906^922 18,869 19^03 1,650,208 39,396 21011 46^03 20 88^ 46J42 2.2 2.4 2,4
@FedFRASER