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STATEMENT FOR THE PRESS S t . 3954 F e d e r a l Reserve Board, February 28, 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. 29; not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES The 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 F e b r u a r y 20 of 758 member banks i n l e a d i n g c i t i e s which submit weekly r e p o r t s t o t h e F e d e r a l Reserve Board shows r e d u c t i o n s of $ 1 6 8 , 0 0 0 , 0 0 0 in n e t demand d e p o s i t s and of $47,000,000 i n accommodation at t h e F e d e r a l r e s e r v e banks t o g e t h e r w i t h an i n c r e a s e of $44,000,000 i n time d e p o s i t s . T o t a l l o a n s and d i s c o u n t s show a d e c r e a s e of $ 9 , 0 0 0 , 0 0 0 , an i n c r e a s e of $31,000,000 i n l o a n s secured by c o r p o r a t e s t o c k s and bonds being more t h a n o f f s e t by d e c r e a s e s of $9• 000,COO i n l o a n s on U. S» Government s e c u r i t i e s and of $ 3 1 , 0 0 0 , 0 0 0 i n " a l l 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 . I n v e s t m e n t s of a l l r e p o r t i n g banks show an i n c r e a s e of $ 1 0 , 0 0 0 , 0 0 0 , h o l d i n g s of U. S. s e c u r i t i e s showing a d e c r e a s e of $ 4 , 0 0 0 , 0 0 0 , and h o l d i n g s of a l l o t h e r bonds, s t o c k s and s e c u r i t i e s showing an i n c r e a s e of $ 1 4 , 0 0 0 , 0 0 0 . Loans and d i s c o u n t s of r e p o r t i n g members i n New York C i t y show a d e c l i n e of $ 5 , 0 0 0 , 0 0 0 ; l o a n s s e c u r e d by c o r p o r a t e s t o c k s and bonds i n c r e a s e d ty $20,000,000, while l o a n s on U. S. Government o b l i g a t i o n s and " a i l o t h e r , n l a r g e l y commercial, l o a n s and d i s c o u n t s d e c r e a s e d by $ 9 , 0 0 0 , 0 0 0 and $ 1 6 , 0 0 0 , 0 0 0 , r e s p e c t i v e l y . I n v e s t ments of t h e s e banks i n U. S. Government s e c u r i t i e s show a r e d u c t i o n of $10,000,000 and. t h e i r i n v e s t m e n t s i n c o r p o r a t e s t o c k s and bonds - an i n c r e a s e of $ 8 , 0 0 0 , 0 0 0 . Net demand d e p o s i t s d e c r e a s e d i n a l l F e d e r a l Reserve d i s t r i c t s , t h e p r i n c i p a l d e c r e a s e s b e i n g shown f o r t h e Chicago, Boston, San F r a n c i s c o , S t . Louis and P h i l a d e l T me ^JriCtS' ^ d e p o s i t s of a l l r e p o r t i n g banks i n c r e a s e d by $ 4 4 , 0 0 0 , 0 0 0 , of 1 . $ 2 0 , 0 0 0 , 0 0 0 i s r e p o r t e d f o r t h e New York C i t y members. Government d e p o s i t s remained p r a c t i c a l l y unchanged. S 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 show a d e c l i n e of $18,000,000 and ~ a d 6 C l i n e 0 f * 1 7 , 0 0 0 , 0 0 0 . The New York City banks r e p o r t an i n c r e a s e v 7 , 0 0 0 , 0 v 0 i n r e s e r v e b a l a n c e s and a nominal i n c r e a s e i n c a s h . I n c r e a s e or d e c r e a s e d u r i n g Feek 1 'iSiEhE*,-" -:::: lis H i s : mm ' S n ; ^ s • c : 31,000,000 s . w i t h ?!med"/tsep.os.its Government d e p o s i t s '•=• ^ - *. *." T o t a l accommodation a t F. R. Banks Year $395,000,000 49,000,000 113,000,000 331,000,000 238,000,000 81,000,000 141,000,000 43,000,000 27,000,000 M.«».oco 17,000,000 ' 8,000,000 - ^000,00a 44,000,000 403,000,000 + 47,000,000 27,000,000 211,000,000 26,000,000 i47.ooo.oco 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 , F e b r u a r y 29, 1924; not e a r l i e r . St 3954a PRINCIPAL RESOURCE AM) LIABILITY ITEMS OF REPORTING MEMBER BANKS III LEADING CITIES — — ( I n t h o u s a n d s of d o l l a r s ) 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 by s t o c k s and 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 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 F e b . 20, 1924 753 229,228 3,848,626 7,848,667 11,926,521 U. S. P r e - w a r bonds U, S, L i b e r t y bonds 272,730 1,031,141 Feb. 1 J , 1924 Aug. 22, 1923 Feb. 2 1 , 1923 769 778 238,015 3,817^901 7,879 , 494 11,935,410 269,699 1,034,397 227,398 3 , 6 l b \ 145 7,8 3 2 , 9 6 4 11,676,507 274,989 1,053,361 275 , 28 5 3, 7 ^ 6 ' o 8 6 7151?! 372 11,531,743 281,620 1,062,766 U. S. T r e a s u r y bonds 77,538 77 , 701 90 , 781 118 , 216 U. S. T r e a s u r y n o t e s 802,706 811,800 8 79,476 *943,377 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 102,512 96,736 O t h e r bonds, s t o c k s and s e c u r i t i e s 2,207,640 2,193,806" 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 R e s e r v e b a l a n c e w i t h F e d e r a l r e s e r v e 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 w i t h F e d e r a l Reserve Banks: Secured by U, S. Government o b l i g a t i o n s All o t h e r 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 Federal R e s e r v e 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 - - - - - - - - - n - - - 93,060 2,143,172 145,655 2,180,991 16,420,788 16,419,549 16,211,34b 1,398,030 l,4l6,333 1,340,529 280,659 297,838 281,274 11,235,478 11,403,683 10,889,593 11,445,970 4,175,980 4,132,239 3,981,112 3,772,556 124,918 125,152 132,315 98,747 135,737 134,355 202,496 114,860 256 246 233>7 278 548 138/305 ^ g ^0 ^Including Victory notes. 16,264,368 1 , 4 2 5 CPS 288,869 2 g o l i c a t i o n F r i d a y a f t e r n o o n , February 29, 1924; not e a r l i e r . tit. 3954b PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS,FEBRUARY 2 0 , 1 9 2 4 ( 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 . R i c h . A t l a n t a C h i c a g o S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n , Total Number of r e p o r t i n g banks 43 110 55 79 76 37 105 35~ 26 72 52 68 758 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 . 12,865 88,004 12,637 24,683 8,608 9,024 36,870 9 , 6 4 2 3,688 6,181 3,129 13,897 229,228 Secured by s t o c k s & bonds 229,402 1,627,584 2b8,82'l 400,233 125,906 6 7 , l 4 l 5 9 0 , 5 7 8 1 4 8 , 4 9 4 4 3 , 7 9 9 S 6 , 4 o 4 67,367 1 9 2 , 8 9 7 3 , 8 4 8 , 6 2 6 A l l Other l o a n s & d i s c o u n t s 618,849 2 , 5 2 9 , 7 4 2 3 4 6 , 4 4 2 694,385 3 3 0 , 2 5 9 3 4 9 , 5 8 1 1,126,496 3 1 1 , 7 3 1 1 8 5 , 9 3 2 322,021 2 1 3 , 4 3 0 819,899 7 , 8 4 8 , 6 6 7 T o t a l l o a n s and d i s c o u n t s 8bl,ll6 4 , 2 4 5 , 3 3 0 627,900 1 , 1 1 9 , 2 0 i 4 6 4 , 7 7 3 4 2 5 , 7 4 6 1 , 7 5 3 , 9 4 4 469,867 2 3 3 , 4 1 9 4 i 4 , 6 o 6 283,926 1*026,693 11,926,521" U. S. P r e - w a r bonds 12,936 49,311 10,679 48,275 28,997 17,382 24,820 14,981 79 , 793 473,706 45,042 110,585 26,784 14,618 98,124 23,656 1 4 , 2 3 2 U. S, T r e a s u r y bonds 4,637 22,772 U. S. T r e a s u r y n o t e s 19,542 434,310 2,935 40,644 5,232 25,449 4,816 U. S. L i b e r t y bonds U. S, C e r t i f i c a t e s of Indebtedness ' O t h e r b o n d s , s t o c k s and securities 169,010 7 7 8 , 1 7 4 183,384 6,109 55,683 6,095 306,127 2,49s 1,879 12,620 9,076 1 1 , 7 5 3 19,930 24,590 12,722 93,06l 3,043 2,087 12,081 16,603 29-, 122 15,177 14,610 36,582 802,706 15,972 102,512 6,197 680 38,818 13,702 5,946 120,785 1,897 2,438 22,823 7,043 1,482 2,412 6,853 333,865 89,310 25,598 55,499 13,890 53,162 38,939 272,730 1,031,141 77,538 160,682 2,207.640 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 1,152,266 6,029,052 9 1 5 , 4 0 0 1,652,075 5 9 1 , 8 1 3 5 0 6 , 9 4 8 2 , 3 6 6 , 9 8 1 627,657 3 1 3 , 6 0 9 541,308 354,018 1,369,661 16,420,788 627,251 66,889 1 0 7 , 1 5 8 3 5 , 0 3 8 3 4 , 2 2 9 82,319 Reserve balance with F,R,Bk. 215,235 4 0 , 8 6 4 2 2 , 3 6 9 4 2 , 7 7 1 2 4 , 4 7 3 99,434 1,398,030 8 3 , 8 1 6 15,898 29,310 1 3 , 0 8 1 1 0 , 8 8 2 Cash i n v a u l t 19,552 52,719 7 , 2 6 4 6,232 11,842 9,180 20,883 280,659 Net demand d e p o s i t s 7 9 9 , 4 1 4 4 , 8 2 4 , 5 9 7 666,958 Time d e p o s i t s 281,984 Government d e p o s i t s 12,184 907,356 1 3 0 , 4 0 0 36,943 9,9U 893,064 331,225 281,756 1,505,073 3 4 4 , 9 4 6 198,992 3 9 8 , 8 6 4 242,177 620,931 1 5 8 , 5 8 6 1 7 8 , 3 6 4 809,304 2 0 2 , 0 4 0 8 3 , 9 4 9 130,269 9 1 , 4 0 3 17,042 4,112 6,976 12,832 4,183 748,412 11,235,478 581,394 4,175,980 1,325 l,46i 5,316 12,633 124,918 415 1,859 2,285 9,927 250 3,364 4,274 25,193 135,737 134,355 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 . G o v t . o b l i g , , All other C. 2,645 5,346 73,850 10,510 9,886 2,902 13,079 7,193 9,068 6 , 0 5 3 24,053 15,533 9,201 4 , 1 0 7 10,686 1 8 , 4 1 3 S t . 3954c F r i d a y a f t e r n o o n , F e b r u a r y 29, 1924; n o t e a r l i e r , SELECTED CITIES L PF.S9URCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND ?JUTCH CITIES AND IN OTHER ( I n t h o u s a n d s of d P i l a r s ) Other F, R. A l l F. R. s e l e c t e d cities Branch 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 Feb. 20 Feb. 13 Feb. 20 Feb. 13 Feb. 20 Feb. 13 Feb. 20 Feb. 13 Feb. 20 Feb. 13 302 302 202 202 254 255 48 48 67 67 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 : 34,244 35,179 40,170 40,114 22,803 27,382 154,870 l62,b66 80,522 89,309 Secured by 0 . S . Government o b l i g . 517,823 5 27 , 781 623,445 635,214 1,432,52s 1,412,788 435,516 449,212 2,685,631 2,676,633 Secured by s t o c k s and b onda 1,368,950 2.217,575 2,233,862 636,0^9 640,515 4,844,115 4 , 8 6 8 , 9 0 8 1,634,767 1 , 0 4 1 , 6 3 6 1,369,785 A l l o t h e r l o a n s and d i s c o u n t s 2,305,251 1,931,810 1,921,952 3,730,625 3,735,959 1,100,418 1,117,109 7,684,616 7 ,708,207 2,310,095 T o t a l l e a n s and d i s c o u n t s Released f c r p " PKI'JC 38,257 U« S. P r e - v . a r 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 410,620 15,369 405,93% 22,468 O t h e r bonds, s t o c k s , and s e c u r i t i e s 562,561 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 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 Tiire d e p o s i t s Government d e p o s i t s 415,740 15,521 413,944 18,464 554,687 4,232 40,924 5,104 80,851 15,074 156,559 8 8,404 88,376 4,231 638,054 627,378 42,851 39,897 39,698 5,087 607,951 598,416 81,0o0 58,003 64,139 13,723 156,585 1,165,580 1,155,994 74,437 236,220 18,207 136,486 27,112 599,650 74,315 229,170 is,206 135,172 26,920 599,913 109,917 167,543 19,633 67,804 11,261 442,410 106,980 167,173 19,598 68,677 11,813 437,899 5,185,834 5,192,551 1,403,162 1,420,646 10,268,203 10,296,510 3,402,207 3,388,947 2,750,378 2,734,092 580,947 573,934 150,723 142,770 994,650 1,000,356 238,903 244,647 164,477 171,330 77,130 83,651 60,309 67,637 68,667 67,862 27,486 30,389 143,220 146,550 4,329,927 4,324,030 1,002,672 1,021,536 7,636,510 7,727,913 1,944,878 1,990,585 •1,654,090 1,685,185 610,267 590,441 373,970 371,933 2,026,065 1,991,146 1,256,403 1,250,009 893,512 891,084 9,734 9,771 33,974 33,974 6,241 6,191 80,169 80,366 35,015 35,015 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 . G o v t , o b l i g a t i o n s All o t h e r 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 i r v e s t r r e n t s , p e r c e n t Digitized for C. FRASER 38,236 59,600 5,532 115,325 7,232 2,100 1.3 2.4 .2 969 3,644 1,432 .4 £0,665 62,961 1.4 139,352 52,725 36,038 1.9 2.1 35,894 44,270 29,791 2. 19,034 35,500 2*0 18,874 32,344 1.9
@FedFRASER