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STATEMENT FOR TUB PRESS Released f o r p u b l i c a t i o n Friday a f t e r n o o n , J a n . 4 , not e a r l i e r , CONDITION OF m t m S t . 3872 F e d e r a l Reserve Board, January 3, 1924BAI-IKS IN LEADING CITIES According t o t h e F e d e r a l Reserve Board's weekly s t atement showing the c o n d i t i o n of member banks i n l e a d i n g c i t i e s a t c l o s e of business on December 2b, 1923, l'^ans and investments of r e p o r t i n g member banks in l e a d i n g c i t i e s increased $ J) 38,000 > COO during t h e p a s t y e a r , an i n c r e a s e of $605,000,000 in loans and d i s c o u n t s being o f f s e t i n p a r t by a d e c r e a s e of $267,000,000 in investments. These changes ^ , in ~ , vestments went t o g e t h e r w i t h / d e c r e a s e of $221,000,000 i n n e t demand d e p o s i t s , and/of $205,000,000 in borrowings a t t h e Federal r e s e r v e banks. On December 27, 1922, loans and d i s c o u n t s of r e p o r t i n g member banks aggregated $11,329,000,000, reached t h e maximum f o r the y e a r - $11,9^6,000,000 - on May 2; and d e c l i n e d t h e r e a f t e r u n t i l August 22, when t h e y steed a t $11,b77,000,000, increased again to $11,892,000,000 on September 19 and remained a t about t h a t l e v e l t o the end of t h e y e a r , when they stood a t $11,934,000,000- The p r i n c i p a l change in loans anj. d i s c o u n t s d u r i n g t h e y e a r occurred in "All o t h e r , " l a r g e l y commercial l o a n s , which increased by $584,000,000. Loans secured by U, S. Government o b l i g a t i o n s declined, by $62,000,000, while l o a n s secured, by s t o c k s and bonds increased by $83,000,000. Investments of r e p o r t i n g member banks in l e a d i n g c i t i e s show an o p p o s i t e trend to / t h a t of l o a n s and d i s c o u n t s , t h a t i s , d u r i n g p e r i o d s when l o a n s were i n c r e a s i n g , i n vestments were d e c r e a s i n g , a l t h o u g h on a somewhat s m a l l e r s c a l e . Holdings of U. S„ bonds and Treasury c e r t i f i c a t e s of indebtedness d e c l i n e d $112,000,000 and $114,000,000 r e s p e c t i v e l y d u r i n g t h e y e a r , 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 - d e c l i n e d $68,000,000. Of the t o t a l d e c r e a s e of $199,000,000 in U- S. Government s e c u r i t i e s over $139,000,000 i s shown f o r t h e member banks i n New York C i t y , while the d e c r e a s e of $68,000,000 in h o l d i n g s of c o r p o r a t e s t o c k s and * bonds of a l l r e p o r t i n g member banks is exceeded by an even l a r g e r r e d u c t i o n of $83,000,000 reported by memoer banks in t h e Chicago d i s t r i c t . T o t a l loans and. i n v e s t m e n t s , which stood a t $ l b , 1 5 2 , 0 6 0 , 0 0 0 on Decemoer 27, 1922, reached t h e maximum f o r the y e a r - $ l b , 6 3 5 , 0 0 0 , 0 0 0 - on May l b and. f o l l o w i n g the course of loans and d i s c o u n t s declined t h e r e a f t e r t o $16,211,000,000 on August 22. During t h e l a s t t h r e e months of the y e a r t o t a l loans and investments were at a somewhat h i g h e r l e v e l and aggregated $lo,400,000,000 on December 26. 1 f Net demand d e p o s i t s followed a g e n e r a l l y downward course during the f i r s t e i g h t months of the y e a r , d e c l i n i n g from $11,527,000,COO on J a n u a r y 3, 1923, t o $10,880,000,000 on August 29, a f t e r which d a t e the trend was upward. Time d e p o s i t s , cn t h e o t h e r hand, show a f a i r l y steady i n c r e a s e throughout t h e y e a r , while Government d e p o s i t s f l u c t u a t e d c o n s i d e r a b l y i n c o n n e c t i o n w i t h p e r i o d i c a l Government f i n a n cing. Reporting banks in t h e D a l l a s and. San F r a n c i s c o d i s t r i c t s show s u b s t a n t i a l increases in net demand d e p o s i t s , and t h o s e i n the Cleveland, Richmond, and Chicago d i s t r i c t s s m a l l e r i n c r e a s e s , while the p r i n c i p a l d e c r e a s e s are shewn f o r banks in the New York and Kansas City d i s t r i c t s . I n c r e a s e s in time d e p o s i t s a r e shown f o r r e p o r t i n g member banks i n a l l Federal r e s e r v e d i s t r i c t s , except San F r a n c i s c o , where the withdrawal from membership of a l a r g e s a v i n g s bank more than o f f s e t the s u o s t a n t i a l i n c r e a s e r e p o r t e d by e x i s t i n g members. Reserve oalances w i t h t h e Federal r e s e r v e banks followed more or l e s s c l o s e l y changes in net demand d e p o s i t s and steed, a t $1,379,000,000 a t t h e end of the y e a r , as compared w i t h $1,39^,000,000 at t h e end of the p r e c e d i n g y e a r , while aggregate cash holdings of a l l r e p o r t i n g member oanks show only a nominal r e d u c t i o n d u r i n g the y e a r . • Borrowings of memoer banks at t h e i r r e s e r v e banks shewed a g e n e r a l l y upward trend during the f i r s t s i x months of t h e y e a r i n c r e a s i n g from $370,000,000 cn December 27, 1922, t o $644,000,000 on J u l y 3, while d u r i n g t h e remainder of the y e a r borrowings were cilia somewhat s m a l l e r s c a l e . Borrowings on t h e f i n a l r e p o r t d a t e of t h e y e a r , which aggregated. $575,000,000, show an i n c r e a s e , however, of about $105,000,000 over the f i g u r e s f o r t h e p r e c e d i n g week, l a r g e l y in c o n n e c t i o n with the holiday season r e q u i r e m e n t s . ' C. Beleaaed f o r p u b l i c a t i o n Friday a f t e r n o o n , January 4, 1924; n o t e a r l i e r . S t . 3572a PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES __ Number of r e p o r t i n g banks - - - ( I n thousands of d o l l a r s ) Dec. 20, 1923 - - - - - - - - - - - - - - - - - - - - - - - - 7^4 Loans anJ 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 ) - - - - - - - - - - All 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 loans and d i s c o u n t s U. S. P r e - w a r bonds 228,305 3,857,062 7,848,307 Dec. 19, 1323 June 27, 1923 Dec. 27, 1Q22 764 774 782 225,413 3,830, CO 1 7,900,583 250,827 3,806,39^ 7,793,196 290,261 3,774,^75 7,263,9^1 11,934,334 275,460 11,955,997 275,70b 11,850,417 280,746) 11,328,977 1,016,279 1,005,389 1,039,727) 1,485,007 81,052 82, f03 96,551) U. s . Treasury n o t e s 852,965 840,088 9 73,848 *825 , 736 U. S. C e r t i f i c a t e s of indebtedness 123,464 133,646 143,352 237,956 U, S. L i b e r t y bonds U. S. Treasury bonds - - - - - - - - - - Other bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,206,111 2,194,893 2,158,134 2,274,145 T o t a l l o a n s and d i s c o u n t s and investments - - - - - - - - - - - - - - - - - - - 1&,489,665 16,488,422 16,542,781 16,151,821 - - - - - - - - - - - - 1,378,672 1,355,021 1,390,388 1,393,755 355,454 335,637 282,040 358,44% 11,034,063 11,103,347 11,104,201 11,255,425 4,072,029 4,057,952 4,000,009 3,708,466 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 185,938 195,566 255,839 471,209 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 305,^20 269,178 254,305 216,161 270,704 220,357 206,253 163,322 3«5 2.9 3*0 2.3 Reserve balance 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 - -- - - - - - - - Ratio 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 to t o t a l loans and i n v e s t m e n t s , p e r cent - - - - - - - - - - - - - - - - - - C. ^Includes Victory notes. :e l e a s 3d for p u b l i c a t i o n Friday a f t e r n o o n , January 4, 1924; n o t e a r l i e r , PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN ( i n thousands Federal Reserve D i s t r i c t Boston New York P h i l a . Clave. Rich. lumber of r e p o r t i n g banks 43 112 55 80 76 Loans and d i s c o u n t s , g r o s s : Secured ty U.S.Govt, o b l i g . 13,322 78,759 15,403 28,673 9,966 Secured by s t o c k s & bonds 230,961 1,649,472 265,403 408,263 122,113 A l l o t h e r l o a n s & d i s c o u n t s 635,17% 2,470,903 340,962 684,662 333,04i T o t a l l o a n s and d i s c cunts 8 79,457 4,199,134 621,768 1,121,598 465,120 48,411 28,795 49,003 10,694 12,731 J. S. Pre-war bonds 449,948 43,337 109,174 27,952 76,788 J, S. L i b e r t y bonds 3,088 25,867 2,941 4,585 J. S. T r e a s u r y bonds 3,398 21,444 53,023 14,892 473,938 45,630 J . S. Treasury n o t e s CJ. 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 7,219 170,441 S t . 3872b. EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, DECEMBER 26, 1923. of d o l l a r s ) 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 Fran. Total 39 106 35 28 73 52 65 764 9,275 36,332 12,008 3,914 6,040 3,190 11,483 228,365 66,742 592,150 149,540 41,981 80,880 64,648 185,509 3 , 8 5 7 , 6 6 2 370,578 1.128,936 311,668 194,484 341,255 226,030 8 l 0 , 6 l 4 7,848,307 446,595 1,757,418 473,216 240,379 428,175 293,868 1,007,606 11,934,334 14,582 24,785 15,193 9 , 1 6 1 11,531 20,481 30,093 275,460 14,772 102,090 22,887 12,373 45,493 15,225 9 6 , 2 4 0 1,016,279 1,878 12,557 6,919 3,858 1,963 13,043 955 81,052 6,200 123,455 17,383 28,779 16,227 15,034 36,960 852,965 6,147 8,376 4,196 9,116 21,383 8,627 2,572 3,055 6,759 17,947 123,464 755,773 185,39 7 300,636 50,061 42,480 349,770 87,658 28,746 59,413 I4,i4l 161,595 2.206.111 28,067 Total loans and d i s c o u n t s and investments 1,171,478 5,981,730 9 l 6 , o 6 i 1 ,,645,803 593,957 535,623 2,391,458 631,883 322,965 567,752 367,471 1,363,434 16,489,665 Reserve balance w i t h F.R.Bk. 79,260 635,222 69,318 104,262 33,203 32,111 201,796 39,874 21,085 4 3 , 6 6 1 26,854 92,026 1,378,672 Cash i n v a u l t 25,518 103,338 19,902 37,670 17,202 13,772 67,630 9,686 7,428 14,328 12,341 26,639 355,454 Net demand d e p o s i t s 788,151 4 , 7 0 1 , 0 7 5 671,953 868,188 339,153 270,848 1 , 4 7 0 , 8 0 1 342,263 197,019 396,110 257,638 730,864 11,034,063 Time d e p o s i t s 266,077 607,724 150,444 180,701 83,038 565,053 4,072,029 Government d e p o s i t s 895,284 114,593 801,341 189,793 85,309 132,672 18,099 54,912 14,744 25,560 6,216 10,284 19,185 6,l6l 2,294 1,738 7,897 18,848 185,938 Secured by U . S . G o v t . o b l i g . 12,124 A l l Other 42,943 129,524 36,298 19,369 9,845 21,780 24,397 17,828 17,211 16,355 29,185 37,065 22,657 9,752 33,836 5,290 4,341 15,651 17,543 2,248 3,243 18,534 27^674 305 520 269:178 B i l l s payable and r e d i s c o u n t s w i t h F. R. Bank: 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 4, 1924; not e a r l i e r . S t . 3872c. . PRINCIPAL RESOURCE Aim LIABILITY ITEMS OF REPORTING MB®EE BANKS IN F. R. BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES ol l a r s ) All $\ R, F. R. Other C i t y of Chicago New York C i t y Bank c i t i e s Branch c i t i e s selected c i t i e s Dec. 26 Dec. 19 Dec. 26 Dec. 19 Dec. 26 Dec. 19 Dec. 26 Dec. 19 Dec, 26 Dec. 19 Number of r e p o r t i n g banks 67 67 203 49 49 257 257 203 304 304 Loans and d i s c o u n t s , g r o s s t 27,242 Secured by U. S, Govt, o b l i g a t i o n s 68,361 149,618 40,814 71,090 28,585 40,182 150,579 36,972 35,613 Secured by s t o c k s and bonds 440,290 436,642 2 , 7 2 3 , 7 4 6 2,695,299 1,455,126 1 , 4 2 5 , 7 9 4 6l6,605 613,949 519,967 518,097 A l l o t h e r l o a n s and d i s c o u n t s 663,202 4 , 8 1 6 , 8 7 3 4,855,069 1,658,494 1 , 6 6 4 , 9 8 2 1,372,940 1 , 3 8 0 , 5 3 2 2,157,752 2 , 1 7 9 , 2 7 6 662,391 T o t a l l o a n s and d i s c o u n t s 3,683,968 3 , 6 7 6 , 4 3 1 1,129,923 1,128,429 7,691,198 7,699,986 2,313,257 2,321,769 1,929,879 1 , 9 3 4 , 2 4 2 U. S. Pre-war bonds 32,052 38,051 4,197 4,201 94,101 93,268 74,499 75,547 106,860 106,891 U. S, L i b e r t y bonds 392,027 45,792 37,268 231,785 231,081 164,549 165,089 17, 757 5,304 5,214 619,945 41,650 609,219 U. S. T r e a s u r y bonds 389 , 337 17,458 43,137 19,718 20,094 19,684 19,472 U. S. Treasury n o t e s 443,062 440,171 £0,128 60,354 640,970 625,160 139,755 142,374 72,240 72,554 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 24,8 77 28,061 11,085 9,456 68,660 72,178 39,468 41,475 15,336 19,993 Other bonds, s t o c k s , and s e c u r i t i e s 539,583 543,834 171,468 167,942 1,166,985 1,162,909 595,246 590,882 443,880 441,102 T o t a l l o a n s and d i s c o u n t s and investments ' Reserve balance 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 Government d e p o s i t s B i l l s payable and r e d i s c o u n t s w i t h F. R, Bank: Secured ty 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 payable 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, p e r c e n t C. 5,139,326 5 , 1 3 3 , 3 4 3 585,242 84,070 552,310 71,070 4,212,831 4 , 2 3 6 , 7 8 1 1,447,397 1 , 4 1 2 , 5 6 4 10,323,509 10,305,857 3 , 4 1 3 , 7 2 8 3 , 4 2 3 , 2 2 2 2 , 7 5 2 , 4 2 8 2 , 7 5 9 , 3 4 3 141,776 136,601 980,179 951,291 228,313 240,905 170,180 162,825 38,345 34,937 184,013 1,003,369 975,238 7,502,887 7,534,904 1 , 8 8 6 , 5 1 7 1 , 9 0 6 , 6 4 3 1,644,659 1,661,800 1,988,677 1 , 2 2 0 , 4 5 0 1,203,966 163,200 76,461 608,830 607,461 378,930 382,870 1,985,445 50,483 54,062 9,316 10,053 119,573 130,145 51,970 96,600 26,651 47,550 6,845 19,827 9,709 6,393 4,558 181,790 148,913 125,207 93,201 78,000 66,4is 2.4 1,1 .8 3.2 2.1 4.2 2.0 81,532 94,980 90,905 866,134 865,309 49,819 14,395 15,602 85,424 70,063 45,830 53,847 43,674 52,897 3*6 3.5 4.5
@FedFRASER