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STATEMENT FOR THE PRESS - Rsleaded, f o r p u b l i c a t i o n Friday afternoon, June 30; not e a r l i e r , St,2SbS, Federal Reserve Beard june 29, 1922. CONDITION OF MEMBER BASES IN LEADING CITIES Aggregate i n c r e a s e s of $13 0 , 0 0 0 , 0 0 0 of investments, l a r g e l y i n connection with f i s c a l operations i n c i d e n t to the June 15 tax i n s t a l l m e n t , p a r t i c u l a r l y the issuance on that date of $ 2 / 3 , 0 0 0 , 0 0 0 of new tax c e r t i f i c a t e s , as a g a i n s t a reduction of $59,000,000 i n loans and d i s c o u n t s , are shewn i n the Federal Reserve Board's weekly statement of condition on June 21 of 799 member banks i n leading c i t i e s . Under the general head of Government s e c u r i t i e s U, S. bonds show an i n crease f o r the week of $ 3 , 0 0 0 , 0 0 0 , Treasury c e r t i f i c a t e s - an increase of $75,OOOrOOQ, and Treasury notes - an increase of $J6,000,000, which was, however, more than o f f s e t by a reduction of $81,000,000 i n Victory notes a s the r e s u l t of exchange of these notes f o r Treasury notes bearing a lower i n t e r e s t rate and maturing three and one-half years from June 15. Holdings of corporate s e c u r i t i e s show an increase f o r the week of $2?,000,000, A l l c l a s s e s of loans and d i s count p show smaller t o t a l s than the week b e f o r e ; loans secured by Government o b l i g a t i o n s - by $20,000,000, loans secured by corporate o b l i g a t i o n s - by $14,000,000 and other loans and discounts - by $26,000^000. By f a r the larger portion of the exchanges of Victory n o t e s f o r the three and one-half year Treasury notes i s shown f o r the member banks in New York City, which a l s o rSport a continued increase of $47,000,000 i n t h e i r loans on corporate s e c u r i t i e s , as against a s u b s t a n t i a l reduction of such loans by member banks i n the other c i t i e s . Government d e p o s i t s show a reduction f o r the week :'of $72,000,000» other demand d e p o s i t s ( n e t ) d e c l i n e d by $6,000,000, while time d e p o s i t s show a gain of $47,000,000, For member banks i n New York City a reduction of $20,000,000 i n Government d e p o s i t s , as a g a i n s t i n c r e a s e s of $27,000,000 i n demand d e p o s i t s , and of $19,000,000 i n time d e p o s i t s , i s noted. Borrowings from the Federal r e s e r v e banks increased from $116,000,000 to $123,000,000, but the r a t i o of these borrowings to the banks' combined loans and investments continued unchanged at 0 . 8 per cent. The New York City members show a decrease from $9,000,000 to <$7,000,000 i n their- borrowings from the l o c a l r e serve bank, and from 0 . 2 to 0 , 1 per cent i n the r a t i o of these borrowings to their leans and investments, ' Reserve balances and cash in v a u l t of the r e p o r t i n g banks f e l l o f f about $7,000,000 each. For member banks i n New York City reductions of $5,000,000 i n reserve balances and of $3,000,000 i n cash on hand are noted. Following i s a statement of changes i n the p r i n c i p a l i t e m s , as compared with a week and a year ago; Increase or Decrease I11 m i l l i o n s of d o l l a r s since June 14. 1922 June 22. 1921 Loans and discounts - t o t a l Secured by U. S. Government o b l i g a t i o n s Secured by stocks and bonds All other Investments, t o t a l U, S. bonds Victory notes U. S. Treasury notes Treasury c e r t i f i c a t e s Other stocks and bonds Dec. Dec. Dec. Dec. Inc. Inc. Dec, Inc. Inc. Inc. 59 20 14 26 11D 8 51 7-f 75 27 Reserve balances with F, R. Banks Cash in vault Dec. Dec. 7 7 Government deposits Net demand deposits Time deposits Dec. Pec. Inc. 72 6 47 Total accomodation a t F, R. Banks Inc. Dec. 989 Dec. 334 Inc. 520 Dec. 1,125 Inc. 905 Inc. 384 Dec. 120 Inc. 377 Inc. 35 Inc. 229 Inc. Dec. 131 43 Dec. 254 Inc. 1,203 Inc. 409 Dec. 1,054 Released f o r p u b l i c a t i o n Friday afternoon, June 30, 1922; not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES. —'—" *— — (Amounts i n thousands of d o l l a r s ) June Number of reporting banks Loans and d i s c o u n t s , including M i l s rediseounted with F. R BankSecured by U. S. Govt, o b l i g a t i o n s " ' Secured by stocks and bonds (other than U. S. s e c u r i t i e s ) A l l other loans and discounts ' Total loans and discounts U. S. bonds :::: I i m Ratio of b i l l s payable and rediscounts with F. R. Bank 4to t o t a l loans and investments, per cent 10 ,S8ltJ37 , 272,042 2,298,804 15,263 651 l ^ ^ l ^ . 276,845 11,192,W 3.32S,to . 178,444 Government d e p o s i t s I I ~I " J u r i e ll 922 Dec. 21, 1921 June 22, 1921 817 7 lot'HI 516,350 3,165,109 7,607,887 673,123 2,992,486 8,208,213 11,289,346 11,373,822 946,303 864,191 172,67s 174,472 125,091 128,030 240,009 237,393 2,069.898 15,3^7,806 *« 800 1 2gq ™ Net demand d e p o s i t s B i l l s rediseounted with Federal Reserve Bank: Secured by U. S. Govt, o b l i g a t i o n s 1 A l l other ^ ' 5 ^ 2 Other bonds, stocks and s e c u r i t i e s - - Total loans & discounts & 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 ' d . w i t h F.R.Bk.- Reserve balance with F. R. Bank Cash in v a u l t B i l l s payable with Federal Reserve Bank: Secured by U. S. Govt, o b l i g a t i o n s A l l other 1< 2Z , 512046 . t,. S. Victory notes ^' c- 50,230 ,cr "5 b 7 2 l g 3 g St.2268a. l0,9^997 — 193.B9S 2,272,287 15*212'991 1 ^ 3 3 283,829 n.198,444 3,2=1,607 250,484 . 808 2,089,107 14,862,534 1,307,715 341,294 10,245,233 2,966,918 291,502 1,254,660 319,461 9,989,313 2,919,332 462,488 49,007 278,972 2,117 324,558 5,111 1,252 65,115 33,374 428,358 104,154 5.0 7-9 773,733 Reltiased f o r p u b l i c a t i o n Friday a f t e r n o o n , June 30, 1922; not e a r l i e r . •PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN (Amounts Federal Reserve D i s t r i c t Boston New York P h i l o Cleve. Rich. Number of r e p o r t i n g banks 49 107 84 57 30 Loans and d i s c o u n t s , i n c l u d i n g b i l l s rediscounted with F. R. Bank: Secured by U . S . G o v t . o b l i g . 17,074 93,038 18,392 3 1 , 9 7 4 12,145 Secured by s t o c k s and bonds 194,138 1,714,413 216,803 330,605 115,347 All other loans & discounts 575,520 2 , 2 6 6 , 9 9 5 314,669 624,456 roo.qgB Total l o a n s and d i s c o u n t s 786,732 4 , 0 7 4 , 4 4 6 549,870 987,035 428,480 U. S. bonds 83,822 517,390 5 4 , 5 2 4 141,621 56,972 1,608 19,729 7,697 0 . S. Treasury n o t e s 2,305 19,734 329,565 20,164 27,462 U. S. C e r t i f i c a t e s of indebtedness 683 3,250 12,167 121,590 13,310 18,038 5,298 U. S. V i c t o r y n o t e s St.2868b. EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS, JUNE 2 1 , 1922, i n thousands of d o l l a r s ) Atlanta 6 8,270 225 6,620 11,965 109 6,934 S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. >7 35 . 79 52 68 8,212 54,011 16,127 55,106 477,349 119,451 289,811 I,010,564 272,017 4,633 8 , 5 5 4 10,073 3 5 , 7 8 4 62,887 4 3 , 1 8 4 191,558 352,410 188,325 353,129 1 , 5 4 2 , 4 2 4 407,595 235,296 425,370 236,142 26,646 119,540 2 8 , 7 2 2 24,097 5 2 , 4 7 2 33,063 1,3S9 1.710 6,025 1,786 48,091 10,939 8,633 Other b o n d s , s t o c k s & s e c u r i t i e s 171,747 83$, 64^ 18 V 1 7 5 277,609 5 V 5 M .33,015 Total 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.Bk. 1 , 0 7 5 , 6 1 0 5 , 8 9 9 , 3 6 3 828,740 1 , 4 5 4 , 0 7 0 548,214 424,522 Reserve b a l a n c e with F- R. Bank 8 8 , 3 4 3 658,682 6 9 , 4 0 3 99,185 33,524 31,578 Cash i n v a u l t 17,364 87,529 14,861 2 8 , 5 7 3 13,999 9,005 Net demand d e p o s i t s 791,933 5 , 1 8 7 , 6 4 6 665,015 831,752 320,904 244,500 Time d e p o s i t s 232,245 619,751 5 0 , 7 8 7 483,278 148,280 149,576 Government d e p o s i t s 15,589 61,450 14,063 17,58% 5,404 5,562 B i l l s payable w i t h F.R.Bank: Secured by U . S . G o v t . o b l i g . 1,310 6,495 9,165 •.10,471 4,577 653 A l l 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: Secsired by U . S . G o v t - o b l i g . A l l other 11,079 Chicago 109 30 3,952 15,073 146,479 Total 799 289,312 3,512,046 696,116 7,083,429 857,668 1 0 , 8 2 4 , 7 8 7 108,820 1,247,689 244 1,929 2,771 8,736 54,902 7,237 12,938 5,729 18,60S 505,427 26,797 11,012 11,702 9,6lS 7,004 26,873 272,042 165,328 2.298.804 409,108 79,928 24,057 56,707 7.956 2,151,985 539,982 303,233 5 5 9 , 0 3 4 292,665 1,186,033 15,263,651 182,264 45,833 21,224 50,900 22,305 82,730 1,385,971 52,801 6,603 5 , 8 6 o 11,571 8,675 19,704 276,845 1,387,760 318,786 139,114 434,399 207,855 612,740 1 1 , 1 9 2 , 4 0 4 677,051 161,743 78,086 114,485 64,680 543,718 3,328,680 20,586 6,765 4,763 7,139 4,683 14,857 178,444 6,298 2 ,918 2,225 644 900 4,574 205 50,230 205 6,224 31 2,232 1,233 105 1,817 10 3,283 62 8,574 656 72,183 Released f o r p u b l i c a t i o n Friday afternoon, June 30 1922- not ^ Number of r e p o r t i n g banks Loans and d i s c o u n t s , including b i l l s r e d i s ' d . with F. R. Bank: Secured by U. S. Govt, o b l i g . Secured by stocks and bonds A l l other loans and d i s c o u n t s Total loans and discounts U. S. bonds U. S. Victory n o t e s U. S. Treasury notes 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 Total loans and discounts and investments, including b i l l s rediscounted with F. R. Bank Reserve balance with 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 with F. R, Bank: Secured by U, S, Gov't o b l i g a t i o n s A l l other B i l l s rediscounted with F, R. Bank: Secured by U.'S. Gov't, o b l i g a t i o n s Al£ other Ratio of b i l l s payable and rediscounts w i t h F. R. Bank to t o t a l loans and investments, per cent New York City June 21 June l 4 66 66 22,403 95,643 1,552,164 1,504,6S2 1,926,351 1,994,836 460,570 City of Chicago June 21 June l 4 50 50 46,024 43,310 356,601 644,552 373,291 653,177 52,415 49,964 BRANCH = All F. R. Bank c i t i e s June 21 June 14 273 273 194,954 214,701 2 , 6 0 5 , 6 7 2 2,614,172 4,445,239 4.44Q-T,kp 16,525 73,700 316,061 264,371 4,775 9,779 724,767 37,955 30,575 24,792 408,435 333,700 $0,667 13,551 10,759 152,257 134,215 191>T09 172,670 114,625 642,179 461,334 723,493 10s,4i6 1,252,205 1,260,755 I m S ^ , OTHEE F, R. Branch c i t i e s June 21 June 14 211 211 50,305 50,321 452,492 44,023 44,175 424,794 429,159 1,271,906 1,275,413 1,895,169 1,913,965 262,370 262,541 1,740,723 1,751,777 475,550 1 , 3 6 6 , 2 8 4 1,381,146 2,594 62,663 61,107 605,576 254,552 253,354 2,320 11,216 42,056 34,326 22,64s 30,593 601,929 411,020 16,014 62,522 5,170,521 5,115,667 1,332,312 1,346,456 9,290,523 9,535,534 2,901,479 2,399,327 613,541 621,477 127.916 131,664 1,020,65s 1,022,230 209,915 211,221 7.4,710 77,552 29,460 29,454 149,266 154,093 55,420 56,319 4,700,999 4 , 6 7 3 , 5 1 2 950.917 966,516 7 , 9 2 3 , 3 4 0 7,913,613 1,729,221 1,733,261 419,721 401,256 322,590 319,952 1,583,779 1,546,623 1 , 0 0 0 , 5 7 1 995,649 57,355 77,672 14,200; 26,516 122,415 150,050 35,942 51,559 4,520 2,774 .1 4,915 359 3,950 .2 4,985 3,593 .6 730 750 .1 25,901 17,279 Other selected c i t i e s June 21 June 14 315 316 2.471,529 155,392 72,159 14,084 12,575 16,176 197 272 9,355 20,969 930 33,94o 10,529 .7 .5 .2 .9 73,417 739,335 12,167 409 4o,685 159,952 744,330 15,552 2o6 2,474,770 1,539,243 1,550,970 12,162 205 17,627 409,603 50 1-3 50 21,220 1.5
@FedFRASER