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STATEMENT FOE THE PRESS S t . 4008 Federal Reserve Board, April 3, 1924. Eeleased f o r p u b l i c a t i o n Friday a f t e r n o o n , A p r i l 4; not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate d e c r e a s e s o f $ 4 0 , 0 0 0 , 0 0 0 i n l o a n s and investments and of $247,000,000 i n net demand d e p o s i t s , t o g e t h e r w i t h an i n c r e a s e of $ 4 8 , 0 0 0 , 0 0 0 in accommodation at the Federal r e s e r v e banks, are shown i n the Federal Reserve B o a r d f s weekly c o n s o l i dated statement of c o n d i t i o n on March 2b of 756 member banks in l e a d i n g c i t i e s . Loans and d i s c o u n t s show a r e d u c t i o n of $ 4 8 , 0 0 0 , 0 0 0 , a d e c r e a s e of $ 5 3 , 0 0 0 , 0 0 0 in loans cn c o r p o r a t e s t o c k s and bonds being o f f s e t in part by an i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 i n "All o t h e r , " l a r g e l y commercial, l o a n s and d i s c o u n t s . Investments i n United S t a t e s bonds and in corporate s t o c k s and bonds increased. $ 1 6 , 0 0 0 , 0 0 0 and $ 9 , 0 0 0 , 0 0 0 , r e s p e c t i v e l y , w h i l e investments i n Treasury n o t e s and c e r t i f i c a t e s d e creased by $ 1 7 , 0 0 0 , 0 0 0 . Member banks in New York City report d e c r e a s e s of $ 3 , 0 0 0 , 0 0 0 and $ 4 1 , 0 0 0 , 0 0 0 , r e s p e c t i v e l y , in loans secured by U. S. Government o b l i g a t i o n s and c o r p o r a t e s t o c k s and bonds, and an i n c r e a s e of $ 7 , 0 0 0 , 0 0 0 in "All 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 show an i n c r e a s e of $ 2 0 , 0 0 0 , 0 0 0 , of which $ 1 4 , 0 0 0 , 0 0 0 i s i n h o l d i n g s o f U. S. Government s e c u r i t i e s and $ 6 , 0 0 0 , 0 0 0 - i n h o l d i n g s of corporate securities. Of the d e c r e a s e of $ 2 4 7 , 0 0 0 , 0 0 0 i n n e t demand d e p o s i t s $ 1 7 1 , 0 0 0 , 0 0 0 was r e ported f o r the New York d i s t r i c t , $ 2 3 , 0 0 0 , 0 0 0 f o r t h e San F r a n c i s c o d i s t r i c t , and $ 1 6 , 0 0 0 , 0 0 0 f o r the Boston d i s t r i c t . Time d e p o s i t s increased by $ 3 7 , 0 0 0 , 0 0 0 , w h i l e U. S, Government d e p o s i t s d e c r e a s e d by $ 8 , 0 0 0 , 0 0 0 . The New York C i t y banks report an i n c r e a s e of $ 2 7 , 0 0 0 , 0 0 0 i n time d e p o s i t s and a d e c r e a s e of $ 2 , 0 0 0 , 0 0 0 in Government d e p o s i t s . Reserve balances show a reduction of $ 6 8 , 0 0 0 , 0 0 0 f o r a l l r e p o r t i n g members and of $ 5 8 , 0 0 0 , 0 0 0 f o r the New York C i t y members. Cash in v a u l t shows an i n c r e a s e of $7,000,000. 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 the Federal r e s e r v e banks increased from $ 2 0 5 , 0 0 0 , 0 0 0 t o $ 2 5 3 , 0 0 0 , 0 0 0 . Of t h i s i n c r e a s e $ 4 3 , 0 0 0 , 0 0 0 i s r e p o r t e d by the New York City banks. 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 the week and the y e a r ending March 26, 1924, f e l l o w s : I n c r e a s e or d e c r e a s e during - 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 . . Reserve b a l a n c e s w i t h F. R. Banks Cash in v a u l t - $45,000,000 +$282,000,000 - 58,000,000 - 53,000,000 + 95,000,000 + 5,000,000 + 245,000,000 * 3,000,000 - 200,000,000 + 16,000,000 - 36,000,000 - 11,000,000 - 171,000,000 6,000,000 - 59,000,000 + 9,000,000 + 66,000,000 - 65,000,000 + 20,000,000 89,000,000 + 7,000,000 - 2,000,000 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 + 37,000,000 8,000,000 - 247,000,000 + Total accommodation a t F. R. Banks + - 222,000,000 48,000,000 + 283,000,000 - 100,000,000 Released f o r p u b l i c a t i o n Friday a f t e r n o o n , April 4 , 1924; not e a r l i e r , S t . 4008a. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES ( I n thousands of d o l l a r s ) Mar. 26, 1924 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 - - - - — - - - - - - - - - - Secured ty 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 discounts - - - - - - - - - - - - - - - - - - - - - - 207,564 -- • - - 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 - - - - - - - - - - - - - - - - - - - Other bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - - - Total l o a n s and d i s c o u n t s and investments - - - - - - - - - - - - - - - - • - Reserve balance w i t h Federal Reserve Banks Net demand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 756 -- - - Mar. 19, 1924 756 R a t i o o f 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 loans and i n v e s t m e n t s , per cent - - - - - - - - - - - - - - - - - - - - C 777 265,268 ,997,S53 207,241 3,912,901 7,993,337 258,121 3,676,508 7,942,376 3,765,339 7,752,873 3>.065,055 12,113,479 11,877,005 11,763,480 1,053,526 71,387 270,376 1,037,876 73,044 768,884 274,995 1,053,456 87,092 855,604 283,280 1,041,643 1??,566 138,615 115,953 191,462 2,227,470 2,218,109 2,157,761 2,161,484 16,579,757 1,414,945 16,620,323 16,421,866 16,497,611 1,482,880 1,365,732 283,824 10,891,330 4,019,613 238,222 1,394,778 282,544 11,082,059 11,170,968 237,430 - - - - 770 37 •859,638 273,777 11,418,194 4,194,133 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: Secured by U. S. Government o b l i g a t i o n s - - - - - - - - - - - S e p t . 26, 19 23 Mar. 28, 19 124,560 1.5 245,451 107,509 *928 , 753 3,948,420 337,323 130,564 294,534 278, 770 290,245 1.2 3.5 2.9 75,022 •Includes Victory notes. 184,708 Released for publication Friday afternoon, April 4, 1924. St. 4008b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, MAR. 26, • 1924. ; ^ (in thousands of dollars) Boston New York Phila. Federal Reserve D i s t r i c t CI6V6» Rich. Atlanta Chicago St.Louisi Minn. Kans.Cy. Dallas San Fran. Total Number of reporting banks 43 110 55 76 104 2b 67 79 756 37 72 52 35 loans and discounts, gross; Secured by U.S.Govt, obiig. 12,837 71,667 12,532 23,602 9,799 8,361 35,354 9,439 3,6s6 6,165 3,083 11,039 207,564 Secured by stocks & bonds 230,99s 1,636,296 266,362 400,254 126,507 67,035 606,612 143,652 44,709 84,427 62,606 190,120 3.259,638 All other loans & discounts 611,961 2,621,911 359,663 711,945 332,725 348,652 1,151,541 314,751 193,840 325,005 213,372 812,127 7,997,253 Total loans and discounts 855,796 4,,329,874 633,557 1,135,801 469,151 424,048 1,793,807 467,842 242,235 415,597 279,061 1,013,28b 12;065,055 U* S« Pre-war bonds 13,032 50,579 10,679 48,254 28,822 14,761 23,807 14,981 9,081 11,928 19,166 25,836 270,926 80,100 477,639 49,817 109,280 26,790 14,340 110,128 23,332 15,072 37,6i4 12,814 U. S, Liberty bonds 96,594 1,053,526 U, S, Treasury bonds 4,296 20,900 2,763 4,472 12,406 1,438 2,889 780 2,255 12,904 71,887 5,429 1,355 U. S, Treasury notes 17,793 52,866 8,012 5,484 127,887 15,850 29,642 15,893 14,095 393,110 32,931 39,764 758,327 U# Si Certificates of 8,050 Indebtedness 38,752 7,181 9,646 2,758 23,332 4,327 1,674 5,958 3,909 23,649 3,330 132,566 Other bonds, stocks and securities 169 , 591 787,889 188,496 307,009 52,927 38,685 340.636 88,983 24,849 54,473 14,949 158,983 2,227.470 Total loans and discounts and investments 1,148,658 6,103,743 930,424 1,667,328 590,715 502,665 2,432,003 619,753 325,986 540,068 347,398 1,371,016 16,579,757 Reserve balance with F<R.Bk. 76,751 655,215 67,983 109,030 35,244 33,151 206,402 40,872 22,656 45,043 26,225 96,373 1,414,945 Cash in vault 77,348 14,640 19,156 53,624 35,373 13,465 10,163 7,536 5,905 12,547 9,771 21,245 280,773 Net demand deposits Time deposits Government deposits B i l l s payable and rediscounts with F» R, Bank: Secured by U.S.Govt, oblig. All other 0. 780,076 4,823,924 659,528 883,296 328,330 269,472 289,517 942,163 129,130 627,651 160,631 178,300 15,801 65,890 27,821 31,775 8,372 8,891 3,005 3,973 61,830 8,234 7,765 5,178 10,137 11,96i 8,329 24,414 6,ll6 18,829 232,061 83,984 131,363 87,616 5,830 3,850 8,908 1,520,130 343,869 208,427 408,461 805,578 201,886 31,607 5,79% 12,145 13,569 10,862 6,185 115 1,007 603 5,588 50 2,382 713,394 11,170,968 593,155 4,230,974 22,88 7 237,430 7,811 23,198 124,560 128,726 S t . 4006c. ter. irlier, Released for Publication T 1 1 Z ™ " 1 W i m m * »<>»»» ^ » « * » » : ^ « » b b « h c i t i e s and ™ o t h e r SH£CTED c m E S (in thousands of dollars) Other F. R. All F. R. selected cities Branch c i t i e s Bank c i t i e s City of Chicago New York City Mar. 26 Mar. 19 Mar. 26 Mar. 19 Mar. 2 6 Mar. 19 Mar. 26 Mar. 19 Mar. 2b Mar. 19 300 300 201 201 255 255 4S 45 6? 67 Number of reporting banks 33,60s 135,355 134,508 38,841 39,125 33,36s Loans and discounts, gross: 27,05S 24,749 6 4 , 4 3 0 6 7 , 3 b l *37,724 Secured by U. S. Govt, obligations 450,437 446,317 1,441,106 1,482,491 i , S _ Secured by stocks and bends 655.092 655,182 2 . 3 0 6 , 3 9 2 2 , 2 9 9 , 3 8 5 All other loans and discounts "7,800,627 7,827,051 2,321,122 2,325,864 1,943,306 1,960,564 Total loans and discounts U, U, U. U. U. S, S. S. S, S, Pre-war bonds Liberty bonds Treasury bonds Treasury notes Certificates of indebtedness 3,611,928 3,649,237 Cash in vault Net demand deposits Time deposits 35,797 36,648 13,801 l4,s6s 1,16s,816 601,092 604,824 444,523 444,467 10,398,640 10,406,294 3,416,930 633,550 236,342 35,367 35,565 16,871 17,527 562,379 566,931 127,645 15,933 82,96s 64,899 158,796 1.181,855 39,525 4,198 4,198 59,661 89,450 410,980 13,414 404,780 53,773 49,966 645,783 13,720 5,058 5,025 372,139 37U7S 87,298 79,048 36,551 28,52S 14,556 572,269 566,501 161,383 5,256,806 5,274,046 603,460 661,611 63,276 63,161 1,458,853 1,439,214 4,328,564 4,492,074 1,023,044 1,010,179 Government deposits B i l l s payable and rediscounts with F, E, Bank: Secured by U. S, Govt, obligations All other Ratio of b i l l s payable and rediscounts with F. R, Bank to total loans and investments, per cent DigitizedC. for FRASER 106,281 132,24s 106,130 168,475 19,649 68,303 75,135 239,26s 39,502 Other bonds, stocks, and securities Total loans and discounts and investments Reserve balance with F R. Bank 1,132,58 7 1,126,24s 141,624 135,993 28 , 284 27,891 643,372 616,185 371,660 371,501 58,754 61,021 14,018 14,431 1,185 45,825 2,650 4,126 6,585 2,456 1.0 .1 .6 4,189 2,600 74,645 167,954 19,952 69,705 3,430,296 2,764,187 2,783,791 1,006,563 1,067,332 241,538 2 4 0 , 9 1 3 1 6 6 , 8 4 4 1 7 4 , 6 3 5 77,935 59,36s 7 6 , 9 6 2 136,474 6 7 , 3 3 1 136,480 7,626,569 7 , 8 0 7 , 0 0 5 1 , 8 9 9 , 7 1 3 1,935.376 1 , 6 4 4 , 6 8 6 1 , 6 7 5 , 8 1 3 899,946 905,567 2 , 0 5 8 , 2 7 7 2,032,645 1,267,130 1,261,542 6s, 629 19,062 1 9 , 8 5 2 156,970 6 6 , 8 7 7 151,491 71,552 49,901 1.2 32,653 56,514 33,641 37,227 24,033 34,428 19,367 41,598 18,336 39,622 2,1 1.7 2.2 2.1
@FedFRASER