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STATEMENT FOR THE PRESS St , F e d e r a l Reserve S c a n J a n u a r y 3 1 , 1924. 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 , Feb. l j not e a r l i e r . CONDITION OF MEMBER BANKS III LEADING CITIES A g g r e g a t e r e d u c t i o n s of $ 9 8 , 0 0 0 , 0 0 0 i n n e t demand d e p o s i t s and of i;;lb,00v,vCv in l o a n s and i n v e s t m e n t s t o g e t h e r w i t h an i n c r e a s e of $ 1 0 , 0 0 0 , 0 0 0 i n a c c c r u n c d a t i o n a t t h e F e d e r a l r e s e r v e banks a r e shown i n t h e F e d e r a l R e s e r v e B o a r d ' s w e e k l y cons 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 -January 23, of %6l rnernoer oanks i n l e a d i n g cities. 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 by $ 1 $ , 0 0 0 , 0 0 0 , of w h i c h $ 2 , 0 0 0 , 0 0 0 were i n l o a n s on s t o c k s and bonds and $ 1 7 , 0 0 0 , 0 0 0 in " a l l o t h e r " , l a r g e l y c o m m e r c i a l , l o a n s and d i s c o u n t s , H o l d i n g s of U n i t e d S t a t e s bonds and o f o t h e r b o n d s , s t o c k s raid s e c u r i t i e s i n c r e a s e d by $ 7 , 0 0 0 , 0 0 0 and $14,000,OCX), r e s p e c t i v e l y , w h i l e h o l d i n g s of T r e a s u r y n o t e s d e c l i n e d by $ 1 5 , 0 0 0 , 0 0 0 , Member b a n k s i n New York C i t y r e p o r t a r e d u c t i o n of $ 1 0 , 0 0 0 , 0 0 0 i n 1 o xns ,uid d i s c o u n t s , an i n c r e a s e o f * 8 , 0 0 0 , 0 0 0 in l o a n s on U» S. Government s e c u r i t i e s b e i n g more t h a n o f f s e t by d e c l i n e s of $7,CGo,000 i n l o a n s on s t o c k s and bonds and of $ 1 1 , 0 0 0 , 0 0 0 i n a l l o t h e r , l a r g e l y c o m m e r c i a l , l e a n s and d i s c o u n t s . I n v e s t m e n t s of t h e s e banks i n U. S. Government o b l i g a t i o n s d e c r e a s e d by $ 1 2 , 0 0 0 , 0 0 0 , w h i l e i n v e s t ments i n o t h e r bonds, s t o c k s and s e c u r i t i e s i n c r e a s e d by $ 1 7 , 0 0 0 , 0 0 0 . Net demand d e p o s i t s of a l l r e p o r t i n g banks shew a d e c l i n e of $ $ [ , 3 0 0 , 0 0 0 , of w h i c h $ 5 3 , 0 0 0 , 0 0 0 i f shown f o r t h e New. York d i s t r i c t , $ 2 4 , 0 0 0 , 0 0 0 f o r t h e B o s t o n d i s t r i c t and $ 1 7 , 0 0 0 , 0 0 0 f o r t h e Snn F r a n c i s c o d i s t r i c t . The C h i c a g o d i s t r i c t r e p o r t s an i n c r e a s e of $ 1 3 , 0 0 0 , 0 0 0 , Time d e p o s i t s of a l l r e p o r t i n g members i n c r e a s e d by $ 2 5 , 0 0 0 , 0 0 0 , w h i l e Government d e p o s i t s show p r a c t i c a l l y no c h a n g e . R e s e r v e 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 show a n o m i n a l c a s h i n v a u l t d e c r e a s e d by $ 3 , 0 0 0 , 0 0 0 . increase > h i l - Member bank b o r r o w i n g s f r o m t h e F e d e r a l r e s e r v e banks i n c r e a s e d f r o m $ 2 8 4 , 0 0 0 , 0 0 0 t o $ 2 9 4 , 0 0 0 , 0 0 0 . The New York C i t y banks r e p o r t in i n c r e a s e of $15,000,000 in borrowings from t h e l o c a l r e s e r v e bank.. A summary of c h a n g e s 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 memb e r s d u r i n g t h e week and t h e y e a r e n d i n g J a n u a r y 23, 1924, f o l l o w s • I n c r e a s e or decrease, d u r i n g Vmek Loans and d i s c o u n t s , t o t a l Secured ty U . S . G o v e r n m e n t 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. 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 . . 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 . . R e s e r v e b a l a n c e s w i t h 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 T o t a l accommodation a t F , R. Banks _ $19,000,000 + + 2,000,000 17,000,000 + + 3,000,000 7,000,000 — - 1,000,000 3,000,000 - 8,000,000 12,000,000 98,000,000 25,000,000 + 15,000,000 + 14,000,000 - + - + 345,000,000 112,000,000 131,000,000 91,000,000 11,000,000 - + $452,000,000 54,000,000 144,000,000 30c,000,cco + - ~ - Year 10,000,000 - - . 309,000,000 423,000,000 42,000,000 65,000,000 he 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 , F e b r u a r y 1, 1924; n o t e a r l i e r . S t . 3920a 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 a n . 2 3 , 1924 J a n . l 6 , 1924 762 Loans and d i s c o u n t s , J u l y 2 5 , 1923 772 J a n . 2 4 , 1923 780 ;ross: Secured by s t o c k s and oonds ( o t h e r t h a n U. S. s e c u r i t i e s ) - - - - - - - 3 , S 77,395 7,756,597 223,464 3,379,16s 7.774,227 231,407 3,741,557 7,742,762 277,368 3,732,869 7,394,740 11,876,859 11,715,726 11,404,977 269,824 277,773 279,481 1,014,215 1,054,697 1,076,703 80,271 91,837 127,746 841,760 912,057 *954,973 107,283 , 2,181,411 106,857 2,185,085 198,758 2,205,945 16,344,032 16,248,583 16,371,623 1,433,554 : 1,355,902 1,442,854 279,605 282,945 288,102 11,308,162 11,077,870 11,519,10s 4,112,125 3,964,432 3,714,607 138,776 145,920 181,009 148,443 135,848 255,449 216,689 259,666 99,335 B i l l s p a y a o 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 Batiks: Jcatio 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 e d e r a l Reserve Banks 1.7 2.9 2,2 ^Includes Victory notes. 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 e o n , F e b r u a r y 1, 1924; n e t e a r l i e r . S t . 3320b. PRINCIPAL RESOURCE AND LIABILITY ITEMS OJ ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, JANUARY 2 3 , 1 9 2 4 . ( i n t h o u s a n d s of d o l l a r s ) C l e v e . R i c h . A t l a n t a Chicago St .Louis i Minn. Eans.Cy. D a l l a s San F r a n . Tot a l B o s t o n New York P h i l a . Federal Reserve D i s t r i c t 6s 761 26 SO Ill Utolber of r e p o r t i n g banks 76 72 105 52 43 38 55 35 Loans and d i s c o u n t s , ^ r o s s : 223,451 Secured by U . S . G o v t , o b i i 12,804 10,916 81,904 14,280 3,226 8,985 25,721 9,322 35,030 11,307 3,930 6 , 0 2 3 Secured by s t o c k s C bonds 2 1 8 , 1 5 4 1 , 6 5 1 , 3 6 4 265,732 186,747 3.8 77,395 612,427 149,482 4 2 , 7 4 2 8 6 , 2 8 1 62,85:4 409,107 127,49 b 64,949 All other loans & ' disccunts 504,902 7,756,597 6 2 6 , 9 8 3 2 , 4 6 5 , 2 6 9 339,456 6 6 3 , 3 4 3 3 3 0 , 3 3 2 356,748 1 , 1 0 5 , 6 5 1 310,433 183,563 3 2 6 , d 5 4 2 1 8 , 2 6 3 T o t a l l o a n s and d i s c o u n t s 857,971 4 , 1 9 6 , 5 3 7 619,468 1 , 1 1 8 , 1 7 1 4 6 7 , 1 5 0 432,685 1,75b,108 4 7 1 , 2 2 2 230,235 418,958 2 8 4 , 3 7 3 1 , 0 0 2 , 5 6 5 1 1 , 8 5 7 , 4 4 3 U. S. P r e - w a r bonds 12,565 49,089 U. S. L i b e r t y bonds 79,735 460,699 J. S. T r e a s u r y oonds 4,966 25,679 3,068 U. S. T r e a s u r y n o t e s 21,02b 452,740 6,741 22,650 T 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. securities 169,134 48,271 29,020 14,578 24,806 14,992 9,076 11,430 20,280 24,593 269,704 43,749* 1 0 7 , 0 1 3 27,023 14,538 95,264 26,531 13,702 44,154 14,551 97,404 1,024,363 4,105 2,378 1,859 12,354 5,218 724 3,421 1,537 12,324 77,693 42,442 55,767 14,138 5,978 119,189 17,323 29,233 14,851 16,446 34,494 823,627 4,582 7,029- 1,906 6,934 21,047 8,007 1,547 2,427 6,645 17, 604 107,419 772,065 17%,9bl 300,615 51,349 41,356 339,343 55,999 26,558 56,799 13,545 159,674 2,195,398 10,684 T o t a l l o a n s and d i s c o u n t s and inve s tment s 1 , 1 5 2 , 4 5 5 5,951,459 903,254 1 , 6 4 0 , 9 7 1 592,964 517,958 2 , 3 6 8 , 1 4 1 629,292 311,075 552,040 3 5 7 , 3 7 7 1 , 3 4 8 , 6 5 5 R e s s r / e oalance w i t h F.R. 3 k . 81,429 105,040 36,406 36,414 667,595 70,354 205,130 41,028 21,593 44,726 2b,514 98,567 Cash i n v a u l t 16,8bl 78,079 14,755 30,58b 12,994 11,018 6 , 3 4 8 12,310 21,785 52,198 9,876 7,734 Net demand d e p o s i t s 807,639 4,779,900 663,612 8 9 2 , 2 3 5 347,768 280,195 1 , 4 9 6 , 3 0 7 359,012 195,600 396,869 2 5 0 , 4 3 5 740,239 Time d e p o s i t s 914,166 124,335 271,995 612,613 152,046 1 7 6 , 7 1 1 588,814 7 9 6 , 9 8 7 197,650 3 4 , 6 4 2 130,304 8 7 , 1 6 6 Government d e p o s i t s 4 1 , 0 4 8 11,015 13,532 18,931 14,200 1,622 4,571 14,075, 4,649 1,471 5,908 7,770 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 o t h e r C, 2,230 4,o4i 84,175 14,795 8,310 2,305 9,641 5,706 13,142 14,505 11,204 12,343 9,879 9,323 5,464 17,791 1,225 1,785 6,633 15,082 725 3,171 12,629 18,550 16,355,647 1,434,796 276,547 11,209,811 4.137,429 138,798 165,257 125,397 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 , F e b r u a r y 1, not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER 3AUKS IN F. R. BANK AND SRANCH 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 ) Other F. R. A l l F. R. s e l e c t e d cities c i t i e s Branch Bank c i t i e s C i t y of C h i c a g o New York C i t y J a n . 2 3 Jan. lo J a n . I D J a r u l b J a n . 23 Jan. 2 3 J a n . 23 J a n . 16 J a n . 23 J a n . l 6 204 48 48 t>7 203 303 303 67 Number of r e p o r t i n g banks 255 255 Loans arid 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 74,219 66,563 1,455,812 1,463,102 Secured by s t o c k s and bonds A l l o t h e r l o a n s and d i s c c u n t s 2,157,309 2,167,957 T o t a l l o a n s and d i s c o u n t s 3,687,340 3,697,622 40,222 34,428 37,007 41,393 628,020 636,411 521,803 524,387 4,775,211 1,618,416 1,634,500 1,365,533 l , 3 o 4 , 5 i b 145,064 27,068 458,325 640,075 29,285 441,473 637,4bl 145,801 2,719,181 4,772,648 2,726,761 1,125,488 1,108,219 7,640,630 7,647,036 2,295,049 2,303,913 1,921,764 1,925,910 U. S. P r e - w a r bonds 35,108 38,052 4,215 4,215 88,510 88,801 74,244 74,225 106,950 106,798 U. S. L i b e r t y bonds 402,176 396,715 41,397 39,028 629,656 620,092 227,950 227,455 166 , 757 166,668 U. S . T r e a s u r y bonds 16,567 17,149 5,443 5,205 38,324 40,802 19,151 19,413 20,218 20,056 U. S. T r e a s u r y n o t e s 424,007 439,587 79,057 80,548 617,282 635,256 137,471 139,015 68,874 67,489 19,809 20,146 13,119 13,069 63,095 64,484 32,267 30,499 12,057 12,300 557,046 540,486 162,523 161,953 1,161,432 1,146,546 593,619 595,110 440,347 439,755 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 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 5,145,053 5,149,757 R e s e r v e b a l a n c e w i t h F. R. Bank 620,105 618,111 142,967 136,341 1,031,259 1,029,665 63,951 63,828 27,927 28,094 137,352 137,608 4,268,335 4,332,013 1,018,169 994,875 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, R. Bank: Secured by U* S, Govt, o b l i g a t i o n s All 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 w i t h F. R. Bank 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 Digitized C.for FRASER 1 , 4 3 1 , 2 4 2 1 , 4 1 2 , 2 5 7 10,238,929 1 0 , 2 4 3 , 0 1 7 3,379,751 3,389,630 2,736,967 2,738,976 237,763 233,860 165,774 169,829 61,498 78,075 80,499 7,633,094 7,697,061 1 , 9 2 1 , 4 8 9 1 , 9 4 1 , 9 3 7 1 , 6 5 5 , 2 2 8 1,669,144 1,99$,805 1,253,825 1,236,081 61,120 619,182 617,320 371,274 372,217 2,002,538 37,746 37,746 6,878 6,937 89,052 89,041 38,888 38,886 10,'858 879,239 10,847 fO,475 9,094 53,6oo 11,237 3,074 2,190 3,611 101,374 44,883 82,884 52,4o6 41,567 46,151 40,977 45,040 22,316 37,363 24,582 38,342 1.3 .4'*- 1.4 1-3 2.6 2-5 1.5 2,301 TU1,066 2.2 2-3
@FedFRASER