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STATEMENT FOB THE PRESS Released for p u b l i c a t i o n in st.2076. F r i d a y a f t e r n o o n p a p e r s , J u n e 24; Federal Reserve Board not e a r l i e r . J u n e 23, 1 9 2 1 . CONDITION OF MEMBER BANKS IN LEADING CITIES. A g g r e g a t e i n c r e a s e s of $ 2 4 0 , 0 0 0 , 0 0 0 i n i n v e s t m e n t s , r e p r e s e n t i n g t h e e x c e s s of i n v e s t m e n t s i n t h e J u n e 15 i s s u e s of T r e a s u r y c e r t i f i c a t e s and J - y e a r n o t e s over t h e amounts of t a x c e r t i f i c a t e s r e d e e m e d on t n a t d a t e , accompanied by much l a r g e r i n c r e a s e s i n d e p o s i t s a n d a r e d u c t i o n of $ 1 9 0 , 0 0 0 , 0 0 0 i n accommodation a t the F e d e r a l r e s e r v e b a n k s , a r e i n d i c a t e d 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 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 J u n e 1$ of 817 member b a n k s i n l e a d i n g c i t i e s . The s t a t e m e n t c a r r i e s a new i t e m : U . S . T r e a s u r y n o t e s , of which the r e p o r t i n g b a n k s show t o t a l h o l d i n g s of $ 1 5 2 , 0 0 0 , 0 0 0 , or n e a r l y oneh a l f of t h e amount a l l o t t e d by t h e T r e a s u r y . Member banks i n New York C i t y r e p o r t $ 8 2 , 0 0 0 , 0 0 0 o f t h e s e s e c u r i t i e s among t h e i r a s s e t s . H o l d i n g s of T r e a s u r y c e r t i f i c a t e s a r e shown a b o u t $ 9 6 , 0 0 0 , 0 0 0 l a r g e r t h a n t h e week b e f o r e , t h e New York b a n k s a l o n e r e p o r t i n g an i n c r e a s e of $ 6 2 , 0 0 0 , 0 0 0 i n t h i s i t e m . O t h e r U n i t e d S t a t e s s e c u r i t i e s snow an i n c r e a s e of ,P00,000. and a nominal d e c r e a s e a t t h e New York C i t y b a n k s . An i n c r e a s e of $ 9 , 0 0 0 , 0 0 0 i n l o a n s s u p p o r t e d by c o r p o r a t e s e c u r i t i e s i s o f f s e t by an e q u a l d e c r e a s e i n l o a n s s e c u r e d by Government o b l i g a t i o n s , w h i l e o t h e r , i . e . commercial, l o a n s and d i s c o u n t s , snow no c h a n g e . For t h e New York C i t y b a n k s an i n c r e a s e of $ 1 0 , 0 0 0 , 0 0 0 i n l o a n s s u p p o r t e d by c o r p o r a t e s e c u r i t i e s , a s a g a i n s t n e t l i q u i d a t i o n of $ 2 5 , 0 0 0 , 0 0 0 i n o t h e r l o a n s , i s n o t e d . I n c o n s e q u e n c e of t h e s e changes, t o t a l l o a n s and i n v e s t ments of r e p o r t i n g b a n k s show an i n c r e a s e f o r t n e week of $ 2 4 0 , 0 0 0 , 0 0 0 , w h i l e t h o s e of t h e New York C i t y b a n k s i n c r e a s e d by about $ 1 2 0 , 0 0 0 , 0 0 0 . I n c o n n e c t i o n w i t h t h e r e d e m p t i o n of m a t u r e d t a x c e r t i f i c a t e s , accommodation of t h e r e p o r t i n g b a n k s a t t h e F e d e r a l r e s e r v e b a n k s snows a d e c r e a s e f o r t h e week from $1,358,000,000 to $1,168,000,000, or f r o m 8.9 t o 7 - 6 p e r c e n t of t h e b a n k s ' t o t a l l o a n s and i n v e s t m e n t s . For t h e New York C i t y b a n k s a r e d u c t i o n of $ 9 9 , 0 0 0 , 0 0 0 i n t h e t o t a l accommodation a t t h e l o c a l r e s e r v e b a n k and a d e c l i n e i n t h e r a t i o of accommodation f r o m 8 . 2 to 7.5 per cent a r e n o t e d . I n consequence of t h e l a r g e Government o p e r a t i o n s , p a r t i c u l a r l y the a l l o t m e n t of t h e newly i s s u e d c e r t i f i c a t e s and n o t e s , Government d e p o s i t s show an i n c r e a s e , f o r t h e week of $ 3 8 5 , 0 0 0 , 0 0 0 . O t h e r demand d e p o s i t s ( n e t ) were $171,000,000 l a r g e r t h a n t h e week b e f o r e , t h i s . i n c r e a s e a p p a r e n t l y r e p r e s e n t i n g b a l a n c e s t o c o v e r c h e c k s i n payment of t a x e s , and c u s t o m e r s ' s u b s c r i p t i o n s to newly i s s u e d Government s e c u r i t i e s . Time d e p o s i t s were $ 1 2 , 0 0 0 , 0 0 0 l a r g e r t h a n on t h e p r e v i o u s Wednesday. For t h e New York C i t y banks i n c r e a s e s of $ 2 4 9 , 0 0 0 , 0 0 0 i n Government d e p o s i t s , of $ 8 7 , 0 0 0 , 0 0 0 i n o t h e r demand d e p o s i t s , a n d of $ 5 , 0 0 0 , 0 0 0 i n time d e p o s i t s a r e shown. I n k e e p i n g w i t h t h e s u b s t a n t i a l i n c r e a s e i n d e p o s i t l i a b i l i t i e s and to p r o v i d e c o v e r f o r o u t s t a n d i n g c h e c k s and d r a f t s i n payment of income and e x c e s s p r o f i t s t a x e s , t h e r e p o r t i n g member b a n k s show an i n c r e a s e of $162,000,COC i n t h e i r r e s e r v e b a l a n c e s w i t h t h e F e d e r a l r e s e r v e b a n k s , w h i l e t h e i r c a s h i n v a u l t shows a r e d u c t i o n of $ 1 9 , 0 0 0 , 0 0 0 . For t h e New York C i t y b a n k s an i n c r e a s e of $ 1 0 0 , 0 0 0 , 0 0 0 i n a g g r e g a t e r e s e r v e b a l a n c e s and a r e d u c t i o n of $ 6 , 0 0 0 , 0 0 0 i n c a s h a r e shown. AM)'LI ABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES (Amounts i n t h o u s a n d s of d o l l a r s ) June 8, 1921 June 1 5 , 1921 818 Si 7 Released for publication — — Number of reporting banks - - - - Loans and discounts, 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: Loans s e c u r e d by U- S . Govt, o b l i g a t i o n s - - Loans s e c u r e d 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 - - - U. S. Treasury 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 T o t a l l o a n s & d i s c o u n t s , & i n v e s t . i n c l u d i n g b i l l s r e d i s c * d - w i t h F.R.Bk. 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 - - - - - - - - --- Government deposits - - - - - - - - - - - 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 Bank; Secured June 1 8 , 1 9 2 0 814 11,877,693 901,217 3,103,600 (a) (a) 1,025,945 3,113,141 La) (a) 859,401 891,505 184,533 197,853 876,867 200,472 168,434 510,653 2.088,765 373 > 8 6 (a) 15,178,826 I6;SO3,226 16,920,503 1,281,294 336,725 1,297,231 381,191 1,363,251 366,091 10.383,9s8 2,942,901 10,212,589 10,814,454 2,931,310 2,790,197 11,514,285 2,684,49- 410,608 25,526 399,968 267,613 329,552 2,3H 635 > 8 5 4,289 672,498 1,174 126,671 252,284 1,139,921 875,761 n?6 R?8 3.026,328 ii g f / q P i » 665,729 3,017,433 8.194.531 '517 179 391 , 152,444 ' 2 > 2,076,908 15,418,649 1,442,890 318,117 Net demand d e p o s i t s Time d e p o s i t s - - - Dec. 1 7 , 1920 824 E67 U.S. bonds-U . S . Victory notes , by U. S. Govt, obligations 2 882 All other ~ B i l l s r e d i s c o u n t e d w i t h F e d e r a l R e s e r v e Bank: ' mUUo by U. S. Govt, obligations All other 7*107* (> M i l Secured 839,583 S a t i o of b i l l s p a y a b l e a n d r e d i s c o u n t s w i t h F . R . Banks to t o t a l loans and investments, per cent - - - - - - - - - - St.2076a. '" 12.1 f i g u r e s n o t available. Comparable 3-9 (a) (a) 283,837 10.8 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 , June 2 4 , 1921; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING- MEMBER BANKS IN ^ (Amounts i n F e d e r a l Reserve D i s t r i c t Boston New York P h i l a . C l e v e l . Richm. Number r e p o r t i n g "banks 49 112 58 88 82 Loans and d i s c o u n t s i n c l u d ing h i l l s rediscounted with ? . R. Bank: 266,699 7 2 , 8 6 l 60,878 25,162 Loans s e c - b y U . S . G o v t . o b l i g . 37,629 Loans s e c - b y s t o c k s and bonds 196,225 1 , 2 7 2 , 4 1 4 189,094 339,570 111,578 All ether loans & discounts 611,650 2 , 7 4 5 , 2 0 9 376,752 670,663 333,574 T o t a l l o a n s and d i s c o u n t s 8 4 5 , 5 1 0 4 , 2 8 4 , 3 2 2 638,707 1 , 0 7 1 , 1 1 1 470,314 St.2076b EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS JUNE 15, 1921, t h o u s a n d s 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 F r a n . Total' 4j 113 37 35 80 52 68 817 19,459 8 3 , 3 4 l 2 0 , 2 9 6 12,456 21,358 6,86l 53,134 4 5 2 , 3 5 4 117,496 3 4 , 0 8 1 71,276 38,606 307,603 1 , 2 4 9 , 6 5 3 315,857 234,510 381,350 213,013 3 8 0 , 1 9 6 1 , 7 8 5 , 3 4 8 453,649 281,047 473,984 2 5 8 , 4 8 0 29,545 656 545 150,700 3,026^528 755,008 8 , 1 9 4 , 8 4 8 935/253 11,8777921" U. U. U. U. S . bonds 34,665 306,627 > 6 , 5 3 3 101,723 5 9 , 2 9 4 3 2 , 1 5 9 73,053 2 6 , 7 1 5 16,602 3 2 , 6 1 5 3 2 , 7 3 0 104,801 867,517 S. Victory notes 5,878 80,84l 8,660 18,563 5,155 2,858 32,830 2,o6l 729 2,931 1,231 17,651 179,391 S. Treasury notes 9,621 85,222 22,968 9,377 18,4l6 1,935 4,905 152 444 S. C e r t i f i c a t e s of ' indebtedness 11,229 144,937 24,504 10,809 6,631 2,303 23,724 3,305 6,548 7,025 4,338 19,115 264,468 Other bonds5stocks & s e c u r i t i e s 130,82 5 7 4 3 , 2 6 1 157 , 607 2 8 6 , 6 l 7 50,429 37,060 354,453 67,311 2 0 , 9 2 5 48,086 1 1 , 7 2 1 l 6 g , 6 l 3 2,076,908 T o t a l l o a n s a n d d i s c o u n t s , and investments including b i l l s r e d i s c o u n t e d w i t h F-R-tik. 1,037,72s 5,645,210 898,979 1 , 4 9 8 , 2 0 0 591,826 454,576 2 , 2 8 7 , 8 2 4 554,976 325,851 569,546 308,500 1,245,433 1 5 , 4 1 8 , 6 4 9 R e s e r v e b a l a n c e w i t h F . R. Bank 79,986 729,722 67,569 105,044 31,324 25,637 197,204 42,687 18,113 42,507 21,687 81,410 1,442,890 Cash i n v a u l t 22,082 106,867 18,277 30,433 15,421 9,909 55,360 7,995 6,118 12,369 9,629 23,657 318,117 Net demand d e p o s i t s 735,974 4,737,811 622,920 826,022 305,984 2 1 7 , 7 1 5 1,319,954 299,816 176,500 369,409 195,361 576, 522 10,383,988 Time d e p o s i t s 176,685 430,102 119,926 146,014 61,022 539,391 2,942,901 Government d e p o s i t s 446,594 41,468 1 658,526 142,997 73»448 106,324 34,642 267,841 5 *, 689 5,^73 11,297 2,323 2,797 7,042 8,355 4,839 4,i6o 6,950 4io,6os 9,441 106,752 44,222 15,466 35 25,58I 500 14,648 50,155 375 14,949 4,388 8,622 53 4,473 1,850 23,129 69 321,826 2,882 B i l l s r e d i s c o u n t e d w i t h F.R.Bank: S e c . by U- S. Govt, o b l i g . 7,674 All other 43,581 38,376 200,740 26,408 29,676 6,o46 87,353 2,676 43,874 5,201 27,357 13,527 132,986 2,663 32,392 474 31,393 3,575 32,333 453 11,967 4,367 58,318 111,440 731,975 B i l l s payable w i t h F.R.Bank: S e c . by U- S- Govt, o b l i g . ' All other 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 , June 24, 1921; n o t e a r l i e r M m " 1 E E O m C E " " " Number of r e p o r t i n g banks Loans a n d d i s c o u n t s i n c l u d i n g b i l l s r e d i s c ' d . w i t h F.R.Bank: Loans s e c . b y U . S . G o v t . o b l i g . Loans s e c . b y s t o c k s and bonds All o t h e r loans and discounts T o t a l l o a n s and d i s c o u n t s U. S . U. S . U. S . U. S . Other bonds Victory notes Treasury notes 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 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 investments including b i l l s r e d i s c o u n t e d w i t h F.R.Bank R e s e r v e b a l a n c e w i t h F . R. Bank A 3 I L m 1 I M S °F ™ New York C i t y June 1 5 June 8 70 71 242,266 1,110,053 2,44i,34g 3,793,667 261,721 72,083 82,246 139,049 567,581 249,096 1,099,698 2,458,860 3,807,654 261,445 73,384 77,163 575,994 C i t y of Chicago J u n e 15 June 8 52 52 60,686 330,260 800 1 , 1 9 1 , 4 9 7 148,974 CITIES A l l F . R. Bank c i t i e s June 15 June 8 282 283 ^ « , St.2076c. REPORTING BAMCS- F- R, Branch c i t i e s June 15 June 8 215 215 All other r e p o r t i n g banks J u n e 15 June 8 320 320 59,723 1 '^9,904 20,463 212,508 0,286 12,624 10,726 9,319 ™ 11,064 149,761 ^,916,347 4,795,640 l,393,6oo 1,383,523 7,908,973 7,922,615 2,071,461 2^050^090 213,737 208,856 49,446 3ii M 1:1 % 46,634 14,961 i . - 1,'S97,'487 l . V g g s 209,863 29,836 10,797 a 9,728,934 2,975,952 2,931,314 2,524,741 2,513,57s 1,075,819 947,761 215,569 186,956 151,502 146,577 184,299 194,045 59,566 63,081 74,252 79,599 9,917,956 680,S80 580,922 132,863 125,361 94,493 100,829 31,520 32,907 4,248,231 4,161,712 910,202 908,260 Time d e p o s i t s 284,822 7,300,302 7,167,499 1,617,812 1,577,490 1,465,874 1,467,600 280,282 315,639 315,282 Government d e p o s i t s 922,l4o 11,031 1,513 1.517 1,365,254 362,626 1,358,476 260,21b 20,020 19,746 916,165 655,507 3,807 28,236 114,190 21,247 375 19,466 75 191,767 1,720 230,025 84,793 108,288 45,266 644 51,239 243 9,070 74,435 83,219 85,817 100,533 16,657 116,952 17,092 110,344 8,966 120,63s 125,296 Cash i n v a u l t Net demand d e p o s i t s B i l l s p a y a b l e w i t h F . R. Bank: S e c . by U. S. Govt, o b l i g a t i o n s All other B i l l s r e d i s c o u n t e d w i t h F . R. Bank: S e c . 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 o t a l l o a n s and i n vestments, per cent 84,54s 36,762 172,24c 7.5 42,547 236,404 8.2 7.5 9,193 8.1 494,385 7-S 1,500 603,943 9-6 518 7.4 568 8.1 7-0 656,669 1,699 9>o46 7-4
@FedFRASER