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STATEMENT FOR THE PRESS s t , 3630 F e d e r a l Reserve Board, August 2 , 1923, 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 , August 3> not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES A f u r t h e r r e d u c t i o n of o v e r $1(0,000,000 i n l o a n s and i n v e s t m e n t s , accompanied with a d e c r e a s e of $85,000,000 i n n e t demand d e p o s i t s and of $$$,000,000 i n accommod a t i o n a t t h e F e d e r a l r e s e r v e b a n k s , i s shown i n t h e F e d e r a l Reserve B o a r d ' s weekly c o n s o l i d a t e d : s t a t e m e n t of c o n d i t i o n on J u l y 25, of 772 member banks i n l e a d i n g c 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 d e c l i n e d d u r i n g t h e week by $47,000,000, of which $7,000,000 was 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 , $4,000,000 i n l o a n s on c o r p o r a t e s e c u r i t i e s , and $36,000,000 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 show a n e t d e c r e a s e f o r t h e week of $15,000,000. Holdings of Government s e c u r i t i e s d e c l i n e d by $ 2 4 , 0 0 0 , 0 0 0 , of which $16,000,000 r e p r e s e n t t h e r e d u c t i o n i n h o l d i n g s of T r e a s u r y n o t e s , while o t h e r s t o c k s and bonds i n c r e a s e d by $9,000,000, T o t a l loans and i n v e s t m e n t s of t h e New York C i t y banks show a r e d u c t i o n of $52,000,000, Loans on Government o b l i g a t i o n s d e c l i n e d by $ 5 , 0 0 0 , 0 0 0 , l o a n s on c o r p o r a t e s e c u r i t i e s by $19,000,000, and a l l o t h e r l o a n s and d i s c o u n t s - by $22,000,000, I n v e s t m e n t s of t h e s e banks show a d e c r e a s e by $ 6 , 0 0 0 , 0 0 0 , of which $ 4 , 0 0 0 , 0 0 0 was i n Government s e c u r i t i e s , and $2,000,000 i n o t h e r s t o c k s and bonds. All c l a s s e s of d e p o s i t s show s m a l l e r t o t a l s t h a n f o r t h e p r e v i o u s week! Government d e p o s i t s by $ 1 1 , 0 0 0 , 0 0 0 , n e t demand d e p o s i t s by $55,000,000 and t i m e d e p o s i t s by $16,000,000. For t h e New York City banks r e d u c t i o n s of $3,000,000 i n Government d e p o s i t s , of $54,000,000 i n n e t demand d e p o s i t s , and of $15,000,000 i n time d e p o s i t s are r e p o r t e d , Reserve b a l a n c e s 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 d e c l i n e d by $43,000,000 and those of t h e New York C i t y members - by $35,000,000, Cash i n v a u l t a l s o d e c l i n e d by about $£,000,000 f o r a l l r e p o r t i n g b a n k s , of which $1,000,000 i s shown f o r t h e New York C i t y members. Borrowings of a l l r e p o r t i n g banks from t h e F e d e r a l r e s e r v e banks d e c r e a s e d from $527,000,000 to $472,000,000 o r from 3,2 to 2 , 9 p e r c e n t of t h e i r t o t a l l o a n s and i n v e s t m e n t s . For t h e member b a n k s i n New York C i t y a d e c r e a s e i n b o r r o w i n g s from the r e s e r v e bank from $123,000,000 to $102,000,000, or from 2 , 4 to 2 p e r c e n t i n t h e r a t i o of thefi# borrowings to t h e i r combined l o a n s and i n v e s t m e n t s , i s n o t e d . Following i s a , s t a t e m e n t of changes i n t h e 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 member b a n k s , as compared w i t h a week and a y e a r ago: Increase o r Decrease I n m i l l i o n s of d o l l a r s since J u l y 18 s 1923 J u l y 26,1922 - , Secured b y U, S, Govt, o b l i g a t i o n s w - en, 4 - , , T o t a l accommodation a t F, R, Banks C , , , - 47 7 4 36 15 7 16 1 9 43 2 + - + + + + + - - + + 977 29 282 724 179 119 349 150 139 30 8 11 85 16 + + 47 35 449 55 + 374 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 3 , 1923; n o t e a r l i e r . g+ PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES __ ( i n t h o u s a n d s of d o l l a r s ) J u l y 2 5 , 1923 J u l y I S , 1923 J a n . 24, 1923 Number of r e p o r t i n g b a n k s 772 Loans and d i s c o u n t s , g r o s s : Secured by U. S. Govt, o b l i g a t i o n s Secured 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 l o a n s and d i s c o u n t s 772 7S0 J u l y 2 6 , 1922 793 231,407 3,741,557 7,742,762 235,638 #3,745,406 #7 J 7 3 ' 6 4 2 277,368 3 732 569 7139*+,'7^0 260,769 3 459 763 7joi5^6l4 11,715,726 #11,762,656 11,404,977 10,739,146 277,773 277,922 279,451) 1,054,697 1,059,936 1,076,703) 91,337 93,240 127,746) U. S. T r e a s u r y 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 912,057 106,557 925,222 105,030 *954,973 198,755 * 563,398 256,910 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 2,155,085 2,176,475 2,205,945 2,323,711 16,344,032 #l6,4o6,56l 16,245,553 15,155,954 1,355,902 1,395,95*+ 1,442,554 1,356,457 252,945 255,430 255,102 2 74,324 11,077,870 11,163.33s 11,519,105 11,043,393 3,964,432 #3,920,567 3,714,607 3,515,379 145,920 157,111 151,009 99,287 255,449 216,659 304,256 222,352 259,666 99,335 35 655 62^147 2.9 3^2 2#2 g 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 bonds 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 Reserve b a l a n c e with F. R. 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 with F e d e r a l Reserve Banks: Secured by U. S. Govt, o b l i g a t i o n s A l l Other 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 with P. 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 cent *Includes Victory notes fRevisad figures» ^00^ 1,305,729 Be 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 3, 1923' n o t e a r l i e r . S t . 363O PRINCIPAL BESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS JULY 25, I 9 2 3 . F e d e r a l Reserve D i s t r i c t 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 . G o v t , o b l i g . Secured by s t o c k s and bonds All other loans & 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 Boston New York 43 ill Phil a. Cleve. 55 82 12,529 78,302 18,731 247,992 1,571,062 257,995 622,134 2,445,977 356,473 Rich. Atlanta 77 29,766 9,053 3 9 6 , 7 2 1 120,382 Chicago St . L o u i s 39 106 7,629 62,294 36,194 11,267 5 8 5 , 6 5 2 136,384 36 Minn. Kans.Cy. 28 4,435 42,611 77 . 7,036 79,723 Dallas 52 3,922 50,831 695,837 324,949 330,099 1,127,488 307,870 186,395 359,840 196,132 882,655 4,095,341 633,199 1,122,324 454,384 400,022 1,749,334 455,521 233,441 446,599 250,885 U. S. P r e - w a r bonds 12,541 U. S. L i b e r t y bonds 79,559 San F r a n . Total 66 772 12,543 189,910 789,568 231,407 3,741,557 7,742,762 992,021 11,715,726 11,003 48,152 30,335 14,331 24,463 15,335 8,821 12,007 20,6i4 31,991 277,773 475,680 43,995 116,64l 32,321 14,346 95,582 22,799 12,054 47,945 14,226 99,549 1,054,697 13,148 91,837 37,583 912,057 48,180 U. S. T r e a s u r y bonds 5,057 29,202 3,698 5,536 3,931 2,103 11,862 9,491 1,215 4,4oo U. S. T r e a s u r y n o t e s 28,952 502,602 54,696 56,086 11,949 5,683 127,560 22,155 28,900 22,519 2,194 13,372 U. S. C e r t i f i c a t e s of Indebtedness 3,058 24,175 6,638 7,662 2,307 7,107 21,267 6,389 2,696 5,491 4,443 15,624 106,857 745,588 184,933 299,718 52,430 39,683 354,777 85,899 29,349 59,587 10,443 153,468 2,185,085 Other bonds, s t o c k s and securities 169,210 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 1 , 1 8 1 , 0 3 2 5 , 9 2 0 , 7 6 8 9 3 8 , 1 6 2 1 , 6 5 6 , 1 1 9 587,657 4 8 3 , 2 7 5 2 , 3 8 4 , 8 4 5 617,589 3 1 6 , 4 7 6 598,548 316,177 1 , 3 4 3 , 3 8 4 16,344,032 69,403 111,627 33,788 32,925 31,380 13,972 10,428 Net demand d e p o s i t s 18,911 79,522 15,789 814,181 4,647,935 692,859 936,276 3 2 3 , 3 6 1 9 6 8 , 3 1 2 1 , 4 8 5 , 7 2 5 342,855 192,776 433,675 208,505 731,410 11,077,870 Time d e p o s i t s 265,629 5 7 6 , 3 4 8 152,299 178,686 Reserve b a l a n c e w i t h F.R.Bk. Cash in v a u l t 83,880 591,474 890,143 105,666 196,915 4 0 , 7 3 7 22,174 49,906 21,03s 102,035 1,355,902 7,677 6,764 12,737 9,001 21,671 282,945 55,093 783,683 190,328 8 5 , 5 3 1 133,514 74,783 527,822 3,964,432 21,888 42,799 13,384 8,490 6,100 6,792 19,185 5,227 3,436 1,876 3,919 12,824 145,920 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. Bank: Secured by U . S . G o v t , o b l i g . 6 , 2 0 1 All o t h e r 20,683 104,624 34,008 22,o4l 13,516 23,322 16,995 20,529 17,549 3,789 12,704 18,612 22,863 9,317 18,580 5,460 4,993 11,321 3,724 17,447 1 0 , 0 4 4 26,509 27,307 255,44$ 216,689 Government d e p o s i t s W. 5 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 3, 1923; not e a r l i e r . ^ £ t ' t , o T T ^mTTT1T, ^ PRINCIPAL RESOURCE AND LIABILITY ITEtvlS OF REPORTING MEMBER BANKS IN 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 ) F. R. Other A l l F. R_ Branch c i t i e s s e l e c ted c i t i e s Bank c i t i e s C i t y of Chicago New York C i t y J u l y 25 J u l y 18 J u l y 25 J u l y 18 J u l y 25 J u l y 18 J u l y 25 J u l y IS J u l y 25 J u l y IS 206 206 308 30S 258 258 49 49 66 66 Number of r e p o r t i n g b a n k s Loans and d i s c o u n t s , g r o s s : 151,963 158,762 41,759 4i,s43 37,685 38,033 27,888 28,823 69,538 74,494 Secured b y U. S. Govt, o b l i g . 2 , 6 7 2 , 0 0 3 * 2 , 6 8 0 , 7 7 1 583,911 583,083 485,643 481,552 4 3 2 , 0 4 5 437,250 1,393,171 1,412,583 Secured b y s t o c k s and bonds 659,444 659,200 4 , 7 6 1 , 0 9 0 * 4 , 7 9 2 , 0 8 9 i £ o 4 , 7 7 2 1 , 6 0 4 , 2 0 7 1,376,900 1 , 3 8 2 , 3 4 6 2,130,458 2,151,772 A l l o t h e r l o a n s ' 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 3,593,167 3,635,849 1,124,582 1,120,128 7 , 5 8 5 , 0 5 6 * 7 , 6 3 1 , 6 2 2 2,230,442 2 , 2 2 9 , 1 3 3 1,900,228 1 , 9 0 1 , 9 3 1 U. S. P r e - w a r bonds 37,429 37,609 4,025 4,026 95,537 95,770 76,983 77,102 105,203 105,050 U, S. L i b e r t y bonds 407,547 405,700 37,924 38,104 637,366 638,i4o 251,007 255,375 166,324 166,418 U. S. T r e a s u r y bonds 20,239 20,273 4,737 4,847 47,839 48,067 23 ,763 24,104 20,235 21,069 U. S. T r e a s u r y n o t e s 467,064 472,227 69,501 70,635 673,918 682,567 145,125 151,052 93,014 94,603 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 21,227 22,607 6,344 6,646 50,132 52,433 36,689 55,713 20,036 19,584 Other b o n d s , s t o c k s , and s e c u r i t i e s 540,124 541,853 177,649 172,500 1,167,867 1,165,157 592,160 557,052 425,052 424,266 T o t a l l o a n s and d i s c o u n t s and investments 5,086,797 5 , 1 3 9 , 1 4 8 1 , 4 2 4 , 7 6 2 1 , 4 2 2 , 2 8 6 1 0 , 2 5 7 , 7 6 5 <10,313,806 3,356,169 3 , 3 5 9 , 5 3 4 2,730,095 2 , 7 3 3 , 2 2 1 543,151 578,543 137,563 146,721 959,002 1,002,329 234,226 232,354 162,662 164,301 64,642 65,350 29,419 29,547 141,302 142,927 60,749 60,163 20,294 52,340 4,153,730 4 , 2 0 7 , 3 4 6 993,046 994,530 7,512,230 613,049 622,522 369,333 1 , 9 4 3 , 1 2 2 * 1 , 9 5 7 , 2 6 3 1,162,360 1 , 1 7 1 , 9 0 1 Government d e p o s i t s 39,634 42,223 2,012 372,332 2,204 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 . All other 79,046 23,394 100,941 22,324 4,401 13 ,023 6,960 16,605 Reserve b a l a n c e w i t h F. R. Bank 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 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 investments, per cent. C' 2.0 2.4 1.2 1.7 7 , 5 7 4 , 7 2 2 1,919,552 1 , 9 2 9 , 9 3 0 1 5 3 9 , 4 3 5 1 , 6 5 8 , 6 8 0 552,290 851,403 96,112 104,065 35,012 36,923 14,790 16,123 147,476 130,727 126,533 135,941 64,912 44,175 75,727 45,577 43,055 41,727 41,966 37,534 3-3 3-6 2.7 3.2 •Revised f i g u r e s . 3-1 2.9
@FedFRASER