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. STATEMENT FOR THE PRESS Released for p u b l i c a t i o n Monday morning, August 9» not e a r l i e r , s t , 131*5 Federal Reserve Board, August 7» 1920* CONDITION OF MEMBER BANKS IN LEADING CITIES Few and on the whole unimportant changes i n p r i n c i p a l a s s e t and l i a b i l i t y items, r e f l e c t i n g the general mid-sunnier q u i e t i n the f i n a n c i a l and banking f i e l d s , are i n d i c a t e d by the Federal Reserve Board* s weekly statement of condition on J u l y 30 of 8lU member banks i n leading c i t i e s . Only nominal changes are shown i n the h o l d i n g s of United S t a t e s bonds and Victory n o t e s , Treasury c e r t i f i c a t e h o l d i n g s , apparently i n consequence of s a l e s of t a x c e r t i f i c a t e s to corporate i n v e s t o r s , l a r g e l y i n New York C i t y , show a f u r ther decline of 28,1 m i l l i o n s . Loans seoared by Government war o b l i g a t i o n s show a s l i g h t r e d u c t i o n f o r a l l r e p o r t i n g banks, though an i n c r e a s e of 6,2 m i l l i o n s for member banks i n New York C i t y . -Total l o a n s secured by s t o c k s and bonds are prac- t i c a l l y unchanged, while the New York City banks r e p o r t n e t l i q u i d a t i o n under t h i s head of 16,2 m i l l i o n s . Other loans and investments show an increase of 8.3 mil- l i o n s f o r a l l r e p o r t i n g i n s t i t u t i o n s , and a decline of 1»7 m i l l i o n s i n New York City, I n consequence of t h e s e changes t o t a l l o a n s and investments of r e p o r t i n g i n s t i t u t i o n s show a r e d u c t i o n of 19,2 m i l l i o n s , f o r the New York City banks a cor- responding r e d u c t i o n of 30%8 m i l l i o n s i s indicated* : All c l a s s e s of d e p o s i t s show d e c l i n e s f o r the week? government d e p o s i t s » by about 27 m i l l i o n s ; other demand d e p o s i t s ( n e t ) - by 28,4 m i l l i o n s ; and time depos- ^ i t s - by 9 , 5 m i l l i o n s . For t h e New York City banks, a decrease of 15.4 m i l l i o n s i n Government d e p o s i t s i s accompanied by i n c r e a s e s of 1 1 , 1 m i l l i o n s i n other demand deposits and of 0 , 2 m i l l i o n i n t i n e d e p o s i t s . Accomodation of r e p o r t i n g banks a t the Federal Reserve Banks, as shown on the books of t h e l a t t e r , inc re ase d from 1 , 9 5 3 . 4 to 1,971.9 m i l l i o n s . Less than 49 per cent of t h e l a t t e r amount i s com- posed of war p a p e r , compared w i t h 65 p e r cent a t t h e beginning of the y e a r . Accom- modation of the New York City banks at the l o c a l Federal Reserve Bank, 683,8 mill i o n s , shows a s l i g h t r e d u c t i o n f o r the week. Reserve balances ( a l l with the Federal Reserve Banks) show a f u r t h e r decline by 19<3 m i l l i o n s and cash i n v a u l t , mainly F e d e r a l Reserve n o t e s , - a decline of 6.2 m i l l i o n s . For t h e New York City Banks corresponding r e d u c t i o n s of 4 . 5 and 2 m i l l i o n s are noted, R e l e a s e d f o r p u b l i c a t i o n . Monday m o r n i n g , August 9 , 10 20; n o t e a r l i e r . PRINCIPAL RESOURCE MB LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES J u l y 3 0 , 1920 814 Number of r e p o r t i n g b a n k s - - - - - - - - J u l y 2 3 , 1920 814 S t . 1345a J a n . 3 0 , 1920 804 A u g . 1 , I919 770 U . S , "bonds t o s e c u r e c i r c u l a t i o n - 268,368 268,260 269,163 269,743 O t h e r U . S . "bonds i n c l u d i n g L i b e r t y b o n d s 607,595 606,123 600,590 645,116 U. 9 . V i c t o r y n o t e s - - - - - - - - - 193,118 193,701 216,4o4 337,239 433.958 462.099 758,493 1.134.206 1,503,039 1,530,183 1,844,650 2,386,304 980,897 1,221,372 (a)l,353,109 3,325,222 ) 10.233.584 ) ( a ) l l , 0 5 7 , 6 6 2 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 T o t a l U. S. s e c u r i t i e s - - - - - - - - - L o a n s and i n v e s t m e n t s , i n c l u d i n g b i l l s r e d i s c o u n t e d w i t h F . R . B a n k : L o a n s s e c u r e d b y U . S . war o b l i g a t i o n s L o a n s s e c u r e d b y s t o c k s a n d bonds o t h e r t h a n U. S . s e c u r i t i e s - - - - A l l other l o a n s and investments 3,060,319 11.339.460 981,714 3,059,798 11.331.213 T o t a l l o a n s a n d i n v e s t m e n t s , i n c l u d i n g b i l l s r e d i s c o u n t e d w i t h F . R . Bank: 16,883,715 16,902,908 16,624,79s 15,134,198 1,368,659 1,388,021 l,4o6,4g6 1,353,542 354,749 360,887 357,509 338,966 11,388,036 11,416,385 11,477,353 10,776,645 - - - 2,705,852 2,715,438 2,471,569 1,861,519 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - 115,287 142,276 308,823 517,149 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 Farik: S e c u r e d b y U . S . war o b l i g a t i o n s All other - - - - - - - - - - - - - - - 708,812 2,122 713,402 4,163 911,297 ) 5,525 ) 255,788 1,005,237 258,533 977,332 631,289 ) 13.1 13.3 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 - - - N e t demand d e p o s i t s — - - - Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - B i l l s rediscounted S e c u r e d by U. S . All other R a t i o of U. S . w a r m e n t s , including _ _ _ _ _ _ _ — - w i t h F e d e r a l Reserve Bank: war o b l i g a t i o n s s e c u r i t i e s a n d war l o a n p a p e r t o t o t a l l o a n s and i n v e s t r e d i s c o u n t s w i t h F . R. Bank, p e r c e n t - - 286,069 ) 1,092,941 337,123 ( a ) E x c l u s i v e of r e . r a discounts with F . R. lb. 8 BaiJrs, Released, f o r p u b l i c a t i o n Monday morning, August 9, 1920; n o t e a r l i e r . * S ^ i ;^ 4 ^ , n o n PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS JULY . ) 0 , 1 9 2 0 . v " F e d e r a l Reserve D i s t r i c t Number r e p o r t i n g banks U. £. bonds t o s e c u r e c i r c u lation - O t h e r U, S. bonds i n c l u d i n g L i b e r t y bonds ""*U. S. Victory n o t e s ' U. S. C e r t i f i c a t e s of indebtedness Total U. S. s e c u r i t i e s Boston 46 vdtoUF!nR.rB^kCOUntS New York 114 Phila. 56 ( AmmTn t.c i n "kin Anc$ond<s esf rlnl 1 C l e v e l . Richm. A t l a n t a Chicago S t . L o u i s 82 107 47 92 35 Minn • Kans.Cy . D a l l a s 49 83 35 68 Total 814 San Fran. 12,311 46,657 11,347 42,095 28,350 14,310 21,549 16,924 7,321 15,396 19,573 32,535 268,368 14,2i4 254,792 6,981 82, 781 29,150 9,014 58,982 19,407 33,851 7,391 28,918 4,317 56,865 39,747 12,260 2,689 9,676 997 23,458 4,579 21,659 3,194 63,770 12,021 607,595 . 193,118 21.332 54,^8 231.437 25.325 74,836 22.301 142,785 12.171 81,763 9.4O4 56,949 59.753 177,914 6.398 38,271 2.878 20,872 10,435 53,868 5.378 49,804 27,146 135,472 4)3,958 1,503,039 52,509 #,430 7S5.210 478,315 89,805 1,284, $42 203,814 4,005.139 571.493 326,700 1,086,987 6 , 3 8 3 , 6 6 3 939,948 Loans and i n v e s t m e n t s i n c l u d ing b i l l s rediscornted with IP R * Loans sec-by u,S.war o b l i g . , Loans sec .by stocks & bonds , A l l other l o a n s & i n v e s t o e n t s Total l o a n s & i n v e s t m e n t s V TiT7C,TlLTr,eio 615,667 75,376 3 2,4)3 2 8 , 3 6 8 101,810 34,983 1 6 , 7 6 5 2 5 , 6 5 6 9,975 107,44) 6 0 , 6 1 0 461,995 127,175 30,583 79,664 3 8 , 7 2 9 943.058 392.551 423.755 1.765.305 411.522 285.971 511.596 252,736 >4,902 980,897 144,634 3 , 0 6 0 , 3 1 9 991,124 11,339,460 1,487,919 6 1 4 , 1 9 0 569,682 2 , 5 0 7 , 0 2 4 6 1 1 , 9 5 1 354,191 6 7 0 , 7 8 4 351,244 1 , 3 0 6 , 1 3 2 16,883,715 Reserve balance w i t h F-R.Bank 83,029 647,267 66,331 100,035 35,387 30,988 189,558 4 l , 555 21,328 44,o44 24,570 84,567 1,368,659 Cash i n v a u l t 22,4o6 115,403 15,-741 32,789 16,546 13,205 65,632 9,095 9,180 14,919 11,900 . 27,933 354,749 . Net demand d e p o s i t s 832,429 Time d e p o s i t s l4o,322 426,606 33,290 6,646 68,424 7,462 5,952 22,619 336,930 59,008 26,293 46,765 12,733 42,834 ^Government d e p o s i t s " " B i l l s payable w i t h F . R . Bank: > S e c by U.S.war o b l i g a t i o n s * All other B i l l s rediscomted with IF ]R. Bdzilc* s e c * b y U.S.war o b l i g a t i o n s A l l other 20,130 37,918 5,170,254 6 6 6 , 8 6 1 126,074 283,117 34,281 918,246 342,066 263,534 1,402,132 318,248 209,915 412,461 2 1 9 , 8 6 6 632,024 1 1 , 3 8 8 , 0 3 6 364,319 1 0 6 , 7 0 4 1 5 0 , 5 8 2 36 820 624,945 124,364 64,192 96,631 54,161 519,826 2,705,852 4,718 371 6,603 115,287 26,975 85 17,156 145 r r. 26,064 85 708,812 2,122 2,139 63,433 255,788 1,005,237 1,501 9,798 2,747 245 35,142 32,602 495 826 98,588 .. 21,964 - 5,471 4,43b 3 8,355 - 6,761 15,876 56,105 £45,733 10,612 70,949 . 4^0 2,506 47,801 6,101 1,655 61,675 23,036 J BBleaSSd SSMSfi &™™' SSSeWs » ». a. timb w c h b ™ St c i t i e s ahd a l l (Amounts in thousands of d o l l a r s ) r Lr»-,r» a y srs — othee a « M a i * > —% « , f ' % w- . A l l other » > 4 ? " " % 1115-:" SSSSilSl-IIBS Loans and investments including b i l l s E H e e I F ™ 5,653.39= 5,664,100 1,525,730 1,529,377 10,99=,7=5 11.034,213 3,169,605 3,154.593 2,715.325 2,714,102 Reserve balance with F. R- Bank 606,317 610,846 135,921 136,552 1,011,220 Cash i n v a u l t 102,579 104,555 36,256 36,185 201,150 4,664,731 4,653,613 972,089 974,303 8,006,287 301,766 301,623 282,679 282,640 1,224,573 65,624 81,009 6,435 7,976 98,633 B i l l s payable with F- R. Bank: S3 cured by U. S. war o b l i g a t i o n s All other 300,999 311,606 36,687 37,612 B i l l s rediscounted with F. R. Bank: Secured by U. S. war o b l i g a t i o n s All other 120,890 261,925 120,263 252,218 8,684 174,325 ,9,097 169,092 17-0 8.1 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 Ratio of U- S. war s e c u r i t i e s and war loan paper to t o t a l loans and investments, i n cluding r e d i s c o u n t s with F-R -Bk•,per cent l6-9 8-6 '71,106 70,790 82,493 S5,0U2 881,243 884,438 600,03b 598,530 121,649 9,786 12,131 6,868 8,496 472,973 150 477,i4o 150 143,234 996 147,345 3,527 92,605 976 88,917 486 212,824 715,474 214,678 702,143 29,162 146,393 144,022 143,370 13,802 14,865 131,167 13.2 11.3 11.6 13.6 205,055 13 -7 13-2 28,990
@FedFRASER