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STATEMENT FOB THE PRESS Bel eased, f o r p u b l i c a t i o n i n F r i d a y a f t e r n o o n p a p e r s , August 12; not e a r l i e r - St,2198F e d e r a l Reserve Board August 11, 1921. CONDITION OF MEMBER BANKS IN LEADING CITIES A l l o t m e n t to t h e banks on August 1 of over $376>000,OOO of l o a n and t a x c e r t i f i c a t e s and a c o r r e s p o n d i n g i n c r e a s e of Government departfe!b a r e r e f l e c t e d i n t h e F e d e r a l Reserve B o a r d ' s c o n s o l i d a t e d weekly s t a t e m e n t of c o n d i t i o n on August 3 of £13 member banks i n 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 but a m o d e r a t e i n c r e a s e , w h i l e demand and time d e p o s i t s show a s u b s t a n t i a l d e c l i n e . As a g a i n s t a r e d u c t i o n of $ 2 2 , 0 0 0 , 0 0 0 i n loans secured by Government o b l i g a t i o n s , l o a n s s e c u r e d by c o r p o r a t e o b l i g a t i o n s show a n i n c r e a s e of $3>000,000,and o t h e r l o a n s , l a r g e l y of a commercial and i n d u s t r i a l c h a r a c t e r ~ a n i n c r e a s e of $30,000>000- Corresponding changes f o r member banks i n New York C i t y i n c l u d e a r e d u c t i o n of $ 1 0 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by Government o b l i g a t i o n s , a s a g a i n s t i n c r e a s e s of $ 3 0 , 0 0 0 , 0 0 0 i n l o a n s s e c u r e d by c o r p o r a t e o b l i g a t i o n s and of $ 1 7 , 0 0 0 , 0 0 0 i n commercial and i n d u s t r i a l l o a n s . F o l l o w i n g t h e August 1 a l l o t m e n t of newly i s s u e d l o a n and t a x c e r t i f i c a t e s , t h e r e p o r t i n g banks show an i n c r e a s e of $ 1 6 4 , 0 0 0 , 0 0 0 i n t h e i r h o l d i n g s of c e r t i f i c a t e s , as a g a i n s t a nominal i n c r e a s e i n o t h e r Government s e c u r i t i e s , and a r e d u c t i o n of $ 1 ^ , 0 0 0 , 0 0 0 i n t h e i r h o l d i n g s of c o r p o r a t e and o t h e r s e c u r i t i e s , For t h e New York C i t y banks, a n i n c r e a s e of $ 5 6 , 0 0 0 , 0 0 0 i n T r e a s u r y c e r t i f i c a t e s , a s a g a i n s t a r e d u c t i o n of $ 8 , 0 0 0 , 0 0 0 i n o t h e r s e c u r i t i e s , i s n o t e d . I n consequence of t h e above c h a n g e s , t o t a l l o a n s and i n v e s t m e n t s of t h e r e p o r t i n g i n s t i t u t i o n s show a n i n c r e a s e f o r t h e week of $ 1 6 1 , 0 0 0 , 0 0 0 , t h e Augu s t 3 t o t a l of $ 1 5 , 0 5 1 , 0 0 0 , 0 0 0 b e i n g a b o u t 1 0 . 5 p e r c e n t below t h e f i g u r e r e p o r t e d a y e a r ago* For the New York C i t y banks t h e c o r r e s p o n d i n g d e c r e a s e f o r t h e y e a r was a b o u t 15 p e r c e n t . Accommodation of r e p o r t i n g banks a t t h e F e d e r a l r e s e r v e banks shows a f u r t h e r d e c r e a s e f o r t h e week from $1,113 > 000,000 to $ 1 , 0 7 9 , 0 0 0 , 0 0 0 , o r from 7 , 5 to 7 . 2 p e r cent of the banks' t o t a l loans and i n v e s t m e n t s . F o r t h e New York City banks a n i n c r e a s e from $285,000,000 to $ 2 9 9 , 0 0 0 , 0 0 0 i n the t o t a l borrowings from the l o c a l Reserve Bank and f r o m 6 . 1 t o 6#3 p e r c e n t i n t h e r a t i o of accommodat i o n i s shown* Government d e p o s i t s show a n i n c r e a s e f o r t h e week of $294,000,000, o t h e r demand d e p o s i t s ( n e t ) d e c l i n e d by $87>000,000, w h i l e time d e p o s i t s f e l l o f f about $ 8 , 0 0 0 , 0 0 0 , the r e d u c t i o n i n demand d e p o s i t s apparently r e p r e s e n t i n g w i t h d r a w a l s of f u n d s by d e p o s i t o r s to pay f o r the newly i s s u e d c e r t i f i c a t e s . F o r t h e member banks i n New York C i t y , a n i n c r e a s e of $ 1 2 3 , 0 0 0 , 0 0 0 i n Government d e p o s i t s , as a g a i n s t reductions of $72*000,000 i n o t h e r demand d e p o s i t s and of $ 4 , 0 0 0 , 0 0 0 i n time deposits, a r e noted. In k e e p i n g w i t h t h e s u b s t a n t i a l r e d u c t i o n i n demand and time d e p o s i t s , r e s e r v e b a l a n c e s of t h e r e p o r t i n g banks show a r e d u c t i o n of $ 1 9 , 0 0 0 , 0 0 0 , w h i l e c a s h i n v a u l t d e c l i n e d by $ 1 1 , 0 0 0 , 0 0 0 . Reserve b a l a n c e s of t h e member banks i n New York C i t y show a n even l a r g e r d e c l i n e of $ 2 8 , 0 0 0 , 0 0 0 , w h i l e t h e i r c a s h h o l d i n g s d e c r e a s e d by $3,000,000. 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 , August 12, 1921; not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES (Amounts i n thousands of d o l l a r s ) , J u l y 2 7 , 1921 * Aug. 3 , 1921 814 S13 Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - Loans and d i s c o u n t s , i n c l u d i n g b i l l s red.iscoun.ted w i t h F . R . Bank: Loans s e c u r e d by U-. S . G o v t , o b l i g a t i o n s - - - - - - _ _ _ _ _ _ Loans s e c u r e d by s t o c k s and bonds ( o t h e r t h a n U. 5 . s e c u r i t i e s ) - - - A l l o t h e r l o a n s and d i s c o u n t s - - - - - - - - - - - - - - - - - - - - - U. S. Victory n o t e s - - - - - - - - - - - - - - - - - - - - - - - - - - - St.2198a. F e b . 4 , 1321 828 Aug. 6, 1920 815 615,080 2,978,926 8,078,576 11,672,582 637,550 2,975,522 8,048,742 11,661,814 809,127 3.074,985 9,021,134 12,905,306 973,159 3,011,063 (a) (a) 863,435 866,979 875,120 882,539 , 165,104 165,594 197,900 184,597 63,481 58,361 - - 401,225 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 - - - - - - - - - - - - - - - - - - - 262,330 98,765 222,059 O t h e r bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - 2,024,094 2,038,963 2,023,765 15,051,026 14,890,476 16,224,150 16,808,698 1,218,537 1,237,555 1,320,414 1,374,806 304,778 315,55% 333,261 360,179 9,915,337 10,002,061 10,653,039 11,313,530 2,897,136 2,905,293 2,923,673 2,721,624 389,763 95,^60 101,829 74,146 274,311 1,032 289,459 619 559,164 1,368 744,369 1,197 73,872 729,858 85,390 737,04? 214,214 1,125,408 258,446 1,017,629 T o t a l l o a n s & d i s c o u n t s , & i n v e s t . i n c l u d i n g b i l l s r e d i s 1 d . w i t h F-R-Bk. R e s e r v e b a l a n c e w i t h F- R. Bank - - - - - - - - - - - - - - - - - - - - - N e t demand 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 w i t h F e d e r a l R e s e r v e Bank: S e c u r e d by U. S- Govt, o b l i g a t i o n s - - - - - - - - - - - - - - - - - B i l l s r e d i s c o u n t e d w i t h F e d e r a l R e s e r v e Bank: S e c u r e d by U- S. Govt- o b l i g a t i o n s - - - - - - - - - - - - - - - - - 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. 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 - - - - - - - - - - - - - - - 7-2 7-5 (a) 11-7 ( a ) Comparable f i g u r e s n o t a v a i l a b l e . 12-0 . 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 , August 12, 1921; n o t e a r l i e r * St»21>:5c. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS AUG. 3 , 1921' (Amounts i n t h o u s a n d s of d o l l a r s ) Federal Reserve D i s t r i c t B o s t o n New York P h i l a C l e v e l » Richxi- A t l a n t a C h i c a g o S t . L o u i s Minn. ICans-Cy» D a l l a s San F r a n . T o t a l Nrjnber of r e p o r t i n g b a n k s 49 112 58 87 82 U3 112 37 35 79 52 67 813 Loans and d i s c o u n t s i n c l u d ing b i l l s rediscounted with F . R. Bank: Loans s e c . b y U - S . G o v t . o b l i g 34,199 240,543 72,524 53,413 25,070 17,905 84,000 20,901 12,788 19,742 6,771 27,224 615,080 L o a n s s e c . b y s t o c k s a n d bonds 1 8 6 , 2 8 7 1 , 2 6 5 , 9 1 7 1 7 9 , 5 6 5 333 M 5 1 0 9 , 5 7 7 5 3 . 3 5 8 445,405 118,789 32,238 70,408 37,479 146,458 2,978,926 A l l Other l o a n s & d i s c o u n t s 597,454 2,733,159 368,034 676,764 331,331 305,755 1,199,553 307,725 231,854 375,368 205,811 745,768 8 , 0 7 8 , 5 7 6 2 7 6 , 8 8 0 4 6 5 , 5 1 8 2 5 0 , 0 6 1 9 19,450 11,672,582 4 4 7 , 4 1 5 Total l o a n s and d i s c o u n t s 817,9^0 4,239,619 620,123 1,063,622 465,978 377,018 1,728,958 863,435 97.551 U- S» b o n d s 71,400 25,568 15.834 32.043 32,334 312,702 46,216 104,651 59,713 30,671 3^,752 U- S . V i c t o r y n o t e s U. S» T r e a s u r y n o t e s 5,993 2,134 79.509 34,897 6,147 9,550 15,985 1,609 4,926 1,212 2,314 122 27.902 7.527 1,957 797 817 259 3,057 456 1,211 726 15,281 4,192 165,104 63,481 IT. S- C e r t i f i c a t e s of 6,840 11,684 262,330 indebtedness 5.630 19,059 14,544 9,114 30,020 101,347 33.165 5.292 22,251 3,384 168,083 2 , 0 2 4 , 0 9 4 Other bonds,stocks & s e c u r i t i e s 136,874 277,406 54,263 36,682 713.783 156,257 339,300 66,193 19,740 44,453 11,060 Total loans and d i s c o u n t s , and investments including b i l l s r e d i s c o u n t e d w i t h F.R.Bk. 1 , 0 1 2 , 2 4 2 5 , 4 8 1 , 8 5 7 871,458 1 , 4 8 5 , 5 2 4 595.206 450,191 2 , 2 0 5 , 1 0 7 547,222 320,370 557.211 301,022 1 , 2 2 3 , 6 1 6 1 5 , 0 5 1 , 0 2 6 R e s e r v e b a l a n c e w i t h F - R- Bank 7 3 , 9 1 0 72,130 1,218,537 174,263 39,944 l b , 8 2 6 38.572 18,753 562,119 63,754 97,597 33,772 26,897 Cash i n v a u l t 6,108 12,199 23,418 20,510 304,778 9,728 103,306 17,156 6,958 9.181 27,991 14,245 53.938 N e t demand d e p o s i t s 554,12s 9,915,337 717,648 4,426,299 610,197 798,623 303,725 207,977 1 , 2 8 4 , 0 5 5 285,042 173,959 372,286 181,398 Time d e p o s i t s Government d e p o s i t s B i l l s payable w i t h F.R.Bank: Sec. by U.S. Govt, o b l i g . All other 415,233 41,476 29,171 180,640 41,674 31,422 10,939 5.405 37,615 10,892 7,226 98,491 32,434 19.632 277 21,433 12,724 33.755 il,3H 2,244 87,550 3,o4o 46,390 - B i l l s r e d i s c o u n t e d w i t h F.R.Bank: S e c . by U . S . G o v t , o b l i g . 5.399 28,318 All other - 17,003 231,379 21,457 29,340 429,454 120,847 143,517 652,095 142,489 177,554 - - - 4,44i 38,015 10,756 103,033 2,673 37,211 69,023 101,861 60,450 543,137 2,897,136 10,352 8,874 7,348 15,431 389,763 3,645 264 9.278 4,426 350 19,956 l4i 274,311 1,032 734 31.397 2,237 28,655 451 15.027 3.437 53,543 73,872 729,858 - R e l e a s e d f o r p u b l i c a t i o n Friday a f t e r n o o n , August 12, I92I; not e a r l i e r . St.2iggc PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F . R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING BANKS (Amounts i n t h o u s a n d s of d o l l a r s ) A l l F.R. F . R. All other New York C i t y C i t y of C h i c a g o Bank c i t i e s Branch c i t i e s r e p o r t i n g banks Aug. 3 J u l y 27 Aug. 3 J u l y 27 Aug. 3 J u l y 27 Aug. 3 J u l y 27 Aug. 3 J u l y 27 Number of r e p o r t i n g "barks 70 70 280 51 51 281 2l4 214 319 319 Loans and d i s c o u n t s including b i l l s r e d i s c ' d.with F.R.Bark: Loans sec.by U . S . G o v t . o b l i g , 218,647 228,405 60,395 63,811 440,113 456,885 97,202 102,433 77,765 78,232 L o a n s s e c . b y s t o c k s a n d bonds 1 , 1 0 9 , 3 5 0 1 , 0 79,550 326,342 320,799 2,093,475 2.085.271 469,339 4l6,112 469,952 420,299 A l l o t h e r l o a n s and d i s c o u n t s 2.434,980 2.417,662 765.081 778,590 5 . 2 4 4 . 3 2 7 5 . 2 2 5 . 2 7 2 1 , 4 6 5 . 2 8 7 1 , 4 5 6 . 0 8 4 1 , 3 6 8 , 9 6 2 1 . 3 6 7 , 3 8 6 T o t a l l o a n s and d i s c o u n t s 3 , 7 6 2 , 9 7 7 3 , 7 2 5 , 6 1 7 1 , 1 5 1 , 8 1 8 1 , 1 6 3 , 2 0 0 7 , 7 7 7 , 9 1 5 7 , 7 6 7 > 2 8 2,031,828 2 , 0 2 8 , 4 6 9 1 , 8 6 2 , 8 3 9 1 , 8 6 5 , 9 1 7 U. S. bonds 266,439 266,020 18,938 18,941 440,273 213,466 439,931 213,602 209,696 213,446 U. S. V i c t o r y notes 71,684 71,681 12,300 17,076 98,387 38,878 99,351 38,009 27,839 28,234 U. S . T r e a s u r y n o t e s 31,732 31,271 1,574 1,341 45,702 45,013 9,320 5,854 8,459 7,494 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 93,626 38,085 15,740 6,607 178,533 22,308 52,512 59,725 31,285 16,732 O t h e r b o n d s , s t o c k s and s e c u r i t i e s 537,290 545.064 131,353 133.933 1.098.571 1.109,975 578,012 . 583,452 347.511 __A5,,536 Total l o a n s and d i s c o u n t s , and investments including b i l l s r e d i s c o u n t e d w i t h F.R.Bank 4,763,748 4,677,73s 1,331,723 1,336,098 9,639,381 9 , 5 a , 4 2 3 2 ,924,016 2,891,694 2,437,629 2,477,359 R e s e r v e balance w i t h F . R. Bank 517,848 545,612 123,342 122,629 886,016 908,301 192,546 189,044 139,975 l 4 o , 210 90,615 93,299 31,080 31,205 174,774 179.362 57,562 61,038 72,442 75,154 3,961,567 4,033,505 880,626 874,403 6,928,571 7,017,314 1 .570,895 1,558,638 1,415,871 1,426,109 Time d e p o s i t s 247,999 251,824 310,491 312,588 1,333,173 1,339,662 912,336 912,274 651,627 Government d e p o s i t s 653,357 174,478 50,982 27,252 3,859 307,083 77,687 52,217 10,445 30,463 7,328 76,965 81,898 l6,4i6 14,215 155,403 160,687 71,409 360 81,756 320 47,499 672 47,016 299 61,333 499 , 762 10,052 115,007 16,107 114,629 7,327 123,947 7,950 122,656 7.6 6-7 7.4 7,2 7.2 Cash i n v a u l t Net demand d e p o s i t s B i l l s p a y a b l e w i t h F. R- Bank; S e c . by U . S. Govt. o b l i g a t i o n s A l l other B i l l s r e d i s c o u n t e d w i t h F- R. Bank: S e c . by U . S . Govt, o b l i g a t i o n s All other R a t i o o f 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 to t o t a l l o a n s and i n v e s t m e n t s , per c e n t * „ — - 15,827 205,865 17,242 185,405 6.3 6,1 - 8,493 52,4i4 5.8 - 9,260 80,044 7-7 - 56,493 4go ,go4 1-3 —
@FedFRASER