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4, STATEMENT FOE THE PRESS S t . 3907 Federal Reserve Board, January 24, 1924. Released f o r p u b l i c a t i o n Friday afternoon, Jan. 25; not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES j t , Aggregate r e d u c t i o n s of $66,000,000 i n loans and investments and of $65,000,000 in accorarnodat ion at the Federal r e s e r v e banks t o g e t h e r w i t h an increase of $23,000,000 i n n e t demand d e p o s i t s are shown i n the Federal Reserve Board's weekly consolidated s t a t e m e n t / 8 n f anu&^^K, of 762 member banks in l e a d i n g c i t i e s . All c l a s s e s of loans show reduced f i g u r e s f o r t h e week - loans on United S t a t e s s e c u r i t i e s declined by $ 5 , 0 0 0 , 0 0 0 , loans on corporate s e c u r i t i e s - by $ 4 1 , 0 0 0 , 0 0 0 and a l l other, l a r g e l y commercial, loans - by $ 8 , 0 0 0 , 0 0 0 . An i n c r e a s e of $ 1 1 , 0 0 0 , 0 0 0 i n United S t a t e s s e c u r i t i e s i s more than o f f s e t by a decrease of $ 2 3 , 0 0 0 , 0 0 0 i n other bonds, stocks and s e c u r i t i e s . Member banks i n New York City report a decrease of $ 7 , 0 0 0 , 0 0 0 i n loans on government o b l i g a t i o n s and a decrease of $37,000,000 i n loans on s t o c k s and bonds, while t h e i r other loans show an i n c r e a s e of $ 1 6 , 0 0 0 , 0 0 0 . Total investments of t h e s e i n s t i t u t i o n s declined $ 1 5 , 0 0 0 , 0 0 0 during the week. Net demand d e p o s i t 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 an i n c r e a s e of $ 2 3 , 0 0 0 , 0 0 0 f o r the week and time d e p o s i t s - an i n c r e a s e of $ 6 , 0 0 0 , 0 0 0 . Net withdrawals of government d e p o s i t s amounted t o $ 1 5 , 0 0 0 , 0 0 0 . Reporting banks in New York City show an i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 in t i m e - d e p o s i t s and r e d u c t i o n s of $ 2 , 0 0 0 , 0 0 0 in net demand d e p o s i t s and of $4,000,000 in Government d e p o s i t s . ' ^ Reserve balances of a l l reporting banks increased by $ 3 , 0 0 0 , 0 0 0 w h i l e cash i n v a u l t decreased oy $ 3 1 , 0 0 0 , 0 0 0 . The New York City members report an i n c r e a s e of $26,000,000 in r e s e r v e balances and a reduction of $ 8 , 0 0 0 , 0 0 0 in cash h o l d i n g s . Member bank borrowings from the Federal reserve banly Reclined from $3^9,000,000 t o $ 2 8 4 , 0 0 0 , 0 0 0 . Reduced f i g u r e s are shown/the banks i n a l l reserve districts. A summary of changes i n the 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 mem* bers during the week and the year ending January l 6 , 1924, f o l l o w s : I n c r e a s e or decrease during Week Loans and d i s c o u n t s - t o t a l 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 All other Year - $54,000,000 5,000,000 41,000,000 8,000,000 + + - 12,000,000 8,000,000 9,000,000 6,000,000 23,000,000 - 370,000,000 126,000,000 119,000,000 103,000,000 82,000,000 Reserve b a l a n c e s w i t h F. R. Banks Cash i n v a u l t + - 3,000,000 31,000,000 - 11,000,000 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 + + - 23,000,000 6,000,000 15,000,000 + - 291,000,000 377,000,000 160,000,000 Total accommodation at F. R. Banks - 65,000,000 - 12,000,000 Investments, t o t a l U. S. bonds U. S. Treasury n o t e s 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 s e c u r i t i e s C. . . . . . . . . . . + $364,000,000 73,000,000 + 68,000,000 + 369,000,000 \ 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 , J a n u a r y 25, 1 9 2 4 ; not e a r l i e r . St, 390fa PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES ( I n t n o u s a n d s of d o l l a r s ) Jan. 16, 1924 Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - - - - - - t y % " g ^ G o : : % n t obligations - - , - Secured by s t o c k s and bond s ( o t h e r t h a n U. S„ s e c u r i t i e s ) - - - - i l l o t h e r l o a n s and d i s c o u n t s Jan. 9 , 1924 7&2 / July 18, 1923 7&3 /_ Jan- 17, 19^5 772 l&l 22],^ 3>S79,lo8 7,774,227 228,557 3,^20,763 7,761,600 ^ 238,638 3, 7,775,043 2 9 ^ 1 3,&^*,5o5 7,405,063 11,^7^,859 11,93^,950 11, |b2, cbo 11,513,199 U. S. P r e - w a r bonds 269,824 269,692 2(7,922 279,442 U. S. L i b e r t y t e n d s 1,014,215 1,005,393 1,053,936 1,031,531 U. S. T r e a s u r y bonds 20,271 81,345 93,240 129,666 U. S, T r e a s u r y n o t e s «M,l60 832,659 925,222 *960,476 107,283 113,73^ 108, OoO 210,5^3 2,181,411 2 , 2 0 4 , 128 2, 176,475 16,371,623 16,437,931 l6,406,561 16,378,^40 1,433*55^* 1,^30, H 7 1,39^,9^4 1,433,712 279,605 310,539 285,430 290,124 11,308,162 11,255,351 U,163,332 11,599,541 4,112,125 4,105,657 3,980,567 3,735,272 138,776 154,032 157,111 298,632 ! « T o t a l l o a n s and d i s c o u n t 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 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 - - - - - Reserve b a l a n c e w i t h F e d e r a l Reserve 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 S S : S g : 2 , 2 0 3 > 5^3 S T - : » A. a. x o v iiw r — — Ratio of b i l l s payab ^ and r e d i s c o u n t s with Federal Reserve Banks t o t o t a l l o a n s and _r7estrnent s , per cent - - - - - - - - - - - - Q - - - - - - 1-7 2.1 3-2 * Includes V i c t o r y n o t e s . 1.8 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 , J a n u a r y 25, 1924; n o t e a r l i e r . ^ - 39 W b , PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING I/ISM3ER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, JANUARY 1 6 , 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 Boston New York P M l a C l e v e . Ric i. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . T o t a l Dumber of r e p o r t i n g banks Loan?, and d i s c o u n t s , g r o s s : Secured by U.S.Govt, o b i i g . Secured ty s t o c k s & bonds All other loans 1 d i s c o u n t s 43 111 55 13,991 74,380 14,4b? 2 3 0 , 1 0 2 1 , 6 6 3 , 3 3 6 270,543 6 3 0 , 7 1 4 2 , 4 7 3 , 6 0 2 337,580 80 76 38 105 35 26 73 52 6S 27,491 10,209 9,051 37,845 11,253 3,801 7,08b >,212 lv,o7S 404,947 127,547 6 5 , 3 6 1 594,997 152,795 42,989 79,237 6 3 , 3 4 4 • 183,670 6 7 6 , 2 0 4 332,470 360,099 1 , 1 0 5 , 9 1 6 3 0 7 , 0 4 1 18b,223 336,139 218,182 810,05/ 762 223,4o4 3,879,lbs 7,7/4,22/ 8 7 4 , 8 0 7 4 , 2 1 1 , 3 1 8 b22,590 1 , 1 0 8 , 0 4 2 470,526 434,511 1 , 7 3 8 , 7 5 8 471,089 233,013 4 2 2 , 4 6 2 284,738 1 , 0 0 4 , 4 0 5 1 1 , 8 7 6 , c 5 9 269,824 24,645 12,885 4 9 , 0 0 7 10,68# 2 4 , 8 0 7 14,992 4 8 , 3 1 5 2 8 , 8 4 5 14,579 9,071 - 1 1 , 5 1 5 2 0 , 4 8 0 T o t a l l o a n s and d i s c o u n t s U- S. P r e - w a r bonds u. S. L i b e r t y bonds 77,094 455,320 44,237 105,227 28,665 14,568 93,992 24,668 12,501 45,345 14,551 95,047 1,014,215 u. S. T r e a s u r y bonds 5,003 25,555 2,994 4,319 2,773 1,917 12,145 7,061 955 3,204 1,960 12,385 80,271 U. S. T r e a s u r y n o t e s 20,977 468,383 42, 792 55,712 13,575 5,959 119,355 17,403 29,745 14,639 16,535 36,352 841, 760 7,203 22,938 5,43c 7,000 1,957 7,355 20,500 8,070 1,554 2,567 6,715 15,573 107,283 755,391 179,243 301,639 51,3H 41,657 335,922 86,625 26,390 58,060 13,940 155,275 2,151,411 U. S» C e r t i f i c a t e s of Ind e b t e d n e s s Other bonds, s t o c k s and securities 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 169,928 1 , 1 6 7 , 5 9 7 5 , 9 5 7 , 9 6 2 907,975 1 , 6 3 0 , 5 5 4 597,952 520,605 2 , 3 4 c , 503 629,905 313,229 557, 792 3 5 8 , 9 2 2 1 , 3 4 9 , 9 5 2 1 6 , 3 7 1 , 6 2 3 Reserve b a l a n c e w i t h F . R . 3k- 88,503 668,786 70,694 107,751 36,190 34,421 197,312 42,229 19,377 42,191 25,018 101,082 1,433,554 Cash i n v a u l t 19,042 75,572 15,190 30,777 13,658 10,329 53,563 8,028 6,415 11,963 9,833 21,705 279,605 Net demand d e p o s i t s 831,247 4,833,135- 673,026 Time d e p o s i t s 272,367 Government d e p o s i t s 911,476 122,124 8 5 5 , 3 6 4 352,228 284,580 1 , 4 8 3 , 6 9 6 3 6 3 , 6 2 3 196,367 39 7,550 249,729 608,805 151,714 176,350 795,392 196,972 757,017 1 1 , 3 0 8 , 1 6 2 8 4 , 6 6 3 131,192 86,311 571,729 4,112,125 13,462 41,048 11,015 18,931 4,571 7,723 14,296 4,649 1,476 1,622 5,908 14,075 138,776 2,266 6,692 69,900 lo,0b3 9,071 3,223 7,670 12,598 12,946 13,549 11,168 18,516 10,385 8,5b4 5,788 19,039 1,415 1,375 6,890 15,8 78 )50 3,818 IV,594 16,533 148,443 135,848 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. Released f o r pu;Z. ic-.t i o n F r i d a y a f t e r n o o n , J a n u a r y 25, 1924; not e a r l i e r . st. 3907c. PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MELDER BANKS IN F. R. BANK AND BRANCH CITIES AND IN OTHER SEL5;CTED CITIES ( I n t h o u s a n d s of d o l l a r s ) F. R. A l l F. R. 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 selected c i t i e s Jan. l6 Jan. 9 Jan. l6 Jan. 9 Jan. lb Jan. 9 Jan. lb Jan. 9 Jan. l b Jan. 9 Number of r e p o r t i n g banks 67 6? 48 43 204 2( 205 255 255 303 303 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 66,563 73,977 29,285 145,064 26,523 42,091 150,941 41,393 37,007 35,555 Secured by s t o c k s and bonds 1,463,102 1,500,503 440, 784 441,473 624,238 2,726,761 2,7/4,237 628,020 524,387 522,288 A l l o t h e r l o a n s and d i s c o u n t s a,167,957 2,151,558 644,146 037,461 4,775,211 4,773,518 1,634,500 1,643,470 1,364,516 1,364,612 T o t a l l o a n s and d i s c o u n t s 3,697,622 3,726,03s 1,108,219 1 , 1 1 1 , 4 5 3 7,647,036 7,698,696 2,303,913 2,309,799 1,925,910 1,922,455 U. S. P r e - w a r bonds 38,052 33,051 4,215 4,220 88,801 SB,74b 74,225 74,246 106,798 106,698 U. S. L i b e r t y bonds 396,715 393,980 39,026 36,285 620,092 614,439 227,455 225,208 166,66s 165,746 U. S. T r e a s u r y bonds 17,149 5,237 68,522 41,992 19,413 19,601 b35,256 625,435 139,015 19,752 140,208 20,056 439,587 5,205 £.0,548 40,802 U. S. T r e a s u r y n o t e s 17,597 441,533 67,489 67,046 20,146 22,479 13,089 12,357 64,484 67,017 30,499 33,286 12,300 13,431 540,4c6 552,876 161,953 162,819 1,146,546 1,165,875 595,110 598,106 439,755 440,147 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 Reserve b a l a n c e w i t h F. R. Bank Cash in v a u l t Net demand d e p o s i t s Time d e p o s i t s 5,149,757 5,192,554 618,111 591,634 63,825 71,812 4,332,013 4 ,334,278 1,412,257 1,400,893 10,243,017 10,302,202 136,341 152,790 1,029,865 1,020,149 233,860 239,252 169,829 170,716 28,094 31,910 137,608 155,490 61,495 67,034 60,499 88,315 994,875 1,003,001 7,697,081 7,685,914 1,996,805 *1,998,002 617,320 611,946 372,217 373,191 Government d e p o s i t s 37,746 41,947 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 6,937 . 7,632 89, 041 98,939 53,6cc 11,237 68,000 1,340 3,611 2,301 1,607 2,853 22,854 52,4bo 112,073 65,053 .4 .3 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 n F. R. Bank t o t a l l o a n s and investments, per cent C. 1*3 1.3 3,329,630 3,400,605 2,738,976 2,735,124 1*3 1.7 ^Revised f i g u r e s . 1,941,937 1,943,953 1,669,144 1,655,484 1,236,081 1,230,606 879,239 *877,049 38,888 43,098 10,847 11,995 40,977 45,040 48,44h 45,242 24,582 38,342 29,326 48,722 2-5 2.8 2-3 2-9
@FedFRASER