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STATEMENT FOB THE PBESS 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 , Mar. 163 not e a r l i e r . St,3+08, F e d e r a l Reserve Board March 15, 1923. CONDITION OF MEMBER BANKS IN LEADING CITIES Net l i q u i d a t i o n of $ 8 2 , 0 0 0 , 0 0 0 of l o a n s s e c u r e d by s t o c k s and b o n d s , and of $10,000,000 of 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 , as a g a i n s t a n i n c r e a s e of $88,000,000 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 s shown i n t h e F e d e r a l Reserve 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 March ( of 777 member banks i n l e a d i n g c i t i e s . L i q u i d a t i o n of p a p e r s e c u r e d by s t o c k s and bonds was c o n f i n e d a l m o s t e n t i r e l y to member tanKS i n New York C i t y , which r e p o r t r e d u c t i o n s of $97,000,000 i n t h i s c l a s s of p a p e r and of $ 5 , 0 0 0 , 0 0 0 i n p a p e r s e c u r e d by Government o b l i g a t i o n s , as a g a i n s t a n i n c r e a s e of ^>49,000,000 i n comm e r c i a l l o a n s and d i s c o u n t s . There h a s b e e n an a l m o s t c o n t i n u o u s i n c r e a s e i n commercial l o a n s s i n c e t h e b e g i n n i n g of t h e year amounting t o over v>263,000,000 > a s a g a i n s t a r e d u c t i o n f o r t h e same p e r i o d of about $226,000,000 i n l o a n s s e cured by Government and c o r p o r a t e o b l i g a t i o n s . I n v e s t m e n t s i n Government s e c u r i t i e s show a n advance of <>12,000,000 f o r t h e week, a s a g a i n s t a nominal change o n l y i n t h e h o l d i n g s of c o r p o r a t e s e c u r i i e s . Loans and i n v e s t m e n 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 were a b o u t <,'8,000,000 rg t h a n the week b e f o r e , while t h o s e of the New York C i t y banks show a d e c i n e 0 $31,000,000. P r a c t i c a l l y no change i s shown i n Government d e p o s i t s , n e t demand, d e p o s i t s f e l l o f f $ 1 3 9 , 0 0 0 , 0 0 0 , while time d e p o s i t s show a g a i n of vSO.COO.UUU. Member banks i n New York C i t y r e p o r t a r e d u c t i o n of $150,000,000 i n ema ep and a g a i n of $62,000,000 i n time d e p o s i t s . Borrowings of the r e p o r t i n g i n s t i t u t i o n s from t h e r e s e r v e banks d e c l i n e d to $149,000,000 i n the borrowings from t h e l o c a l r e s e r v e bank and fiom 2 . 8 p e r c e n t i n t h e r a t i o of t h e s e borrowings t o t o t a l l o a n s and i n v e s t o r note d, b a l a n c e s and an i n c r e a s e of about 4)1,000 >000 i n cash* F o l l o w i n g i s a s t a t e m e n t of changes i n t h e 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 on March 7 , 1923, a s compared w i t h a week and a y e a r ago; Increase or Decrease I n m i l l i o n s of d o l l a r s since Feb. 2 8 , 1923 Mar, 8 , 1922 Loans and d i s c o u n t s - t o t a l Secured by U, S. Govt, o b l i g a t i o n s Secured by s t o c k s and bonds All other , . . + + Investments, t o t a l U, S. bonds . U. S. V i c t o r y n o t e s and T r e a s u r y n o t e s Treasury c e r t i f i c a t e s , , > . Other s t o c k s and bonds , « Reserve b a l a n c e s w i t h F, R, Barnes Cash i n v a u l t T. - + - + 4* 739 147 607 279 1,072 459 12 2 43 29 + + 35 12b 5 7 + + 99 7 ' + + + - 522 178 Government d e p o s i t s . , • » Net demand d e p o s i t s Time d e p o s i t s . . , T o t a l accommodation a t F, R. Banks + 4 10 82 28 — + * » D9 go 14 + 1,051 + 751 + lib s t . 340i B 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 , March l b , 1j23J n o t e a r l i e r . imiBER BANKS I,j leading c i t i e s PRINCIPAL RESOURCE AND LIABILITY ITEM'S OF EEPCRTI:^ (Amounts i n t h o u s a n d s of d o l l a r s ) Mar. 7, 1923 L o a n s and d i s c o u n t s , ^ r o s s : S e c u r e d by U. S. Govt, o b l i g a t i o n s - - A l l o t h e r l o a n s and d i s c o u n t s - - - - - S e p t . b , 1922 777 777 790 - - - - 272,16^ 3,717,365 7,6^5,393 282,521 3,799,712 7,557,140 25b,98S 3,480,189 7,052,676 4l9,05S 3,no,773 7,366,394 - - 11,634,927 11V639,373 10,519,853 10,896,225 1,375,364 997,663 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - T o t a l l o a n s and d i s c o u n t s - - - - - - - - - - - - - - - - - - - - - - U# 8. p r e - w a r bonds - - - - - - - - - - - - - - - - - - - - - - - - - - - - U, S 4 V i c t o r y n o t e s and T r e a s u r y n o t e s Mr.r. 5, 1 806 Feb. 25, 1923 223,169 - - - - - - - - - - - - - - - - - - - 21";2,500) 1,042,296) 113,456 133,319) 942,713 900,000 700,174 420,362 145,704 173,272 152,726 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 - - - - - - - - - - - - - - - - - - - - - - 2,186,035 2,186,296 2.263,963 2.059,609 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 - - - - - - - - - - - - - - - - - - 16,337,730 lb, 3 - 9 , 7 ^ .15,332,626 14,526,525 - - - 1,403,014 1,405,310 1,368,905 1,303 , 763 277,450 252,539 277,334 11,524,612 10,992,93^ 10,334,114 3,775,527 3,602,623 3,104,900 100,275 100,109 175,300 275,396 247,496 267,150 110,334 57,426 79, a 2 9 6 , J94 .59,260 2.3 2.4 •9 1.5 R e s e r v e b a l a n c e w i t h F. R. Bank - - - - - - - - - - - - - - - - - - - - - - B i l l s p a y a b l e and r e d i s c o u n t s v , i t h F e d e r a l R e s e r v e Bank: S e c u r e d by U. S. Govt. o b l i g a t i o n s - - - - - - - - - - - - - - - - - - - - • 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 Vvith F, R, Banl: t o t o t a l l o a n s und i n v e s t m e n t s , p e r c e n t , - - - - - - - - - - - - - - - C - 3,855,553 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 , March l o , 1°23; not e a r l i e r . PRINCIPAL EE SOURCE AND LIABILITY ITEMS OF ALL REPORTING- MEMBER BANKS IN EACH FEDERAL I 'JEvE DISTRICT AT CLOSE OF BUSINESS (Amounts 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 Number of r e p o r t i n g Banks L o a n s and d i s c c u n t s , g r o s s : S e c u r e d by U.S. Govt. o b l i ~ . S e c u r e d by s t o c k s and bonds 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. 5. L i b e r t y b o n d s Boston New York Phila. C'leve. 46 10b 55 64 ILois.Cy. Dallas 78 52 06 5,242 51,103 16,303 154,934 272,169 3,717,365 5 5 2 , 6 0 4 4 , 1 7 5 , 6 9 2 6 0 7 , 6 9 4 1 , 0 7 7 , 9 0 4 4 5 3 , 5 6 4 4 0 6 , 5 2 5 1 , 7 0 0 , 9 6 0 4bu, 199 247,770 4 4 9 , 6 1 3 267,385 4s,466 11,464 45,056 30,460 14,551 12,797 2 4 , ^ 0 3 15,479 8 , 7 7 6 12,077 1 9 , 7 5 3 121,866 3 2 , 5 1 7 1 2 , 6 1 0 479,544 4 7 , 9 6 6 78,063 9 4 , 9 2 5 2 3 , 9 1 6 14,808 4 6 , 6 3 9 13,663 934,714 11,634,927 36,387 253,169 93,219 1,060,336 14,231 85,131 19,043 2 3 3 , 0 2 5 1 , 6 4 6 , 1 4 9 255,617 Rich. Atlanta 78 32,306 10,481 3 8 2 , 2 9 4 123,165 Chicago St.Louis 39 107 36 7,395 61,971 4 5 , 2 1 3 17,594 5 4 0 , 7 5 4 136,963 Minn. St. j405b March 7, 1923- 30 7,690 45,270 8,238 80,090 San. F r a n . Total 777 5,294 45,43s 4,i6l 5,965 4,776 1,837 12,710 9,554 1,363 3,871 2,649 12,535 113,456 24,769 514,745 53,947 57,635 9,462 7,242 143,889 25,515 24,940 21,392 17,059 42,115 942,713 1,531 . 46,507 1,659 9,745 2,701 4,319 24,284 3,420 1,904 5,995 3,389 11,340 117,094 741,654 184,437 286,273 52,573 36,938 565,524 85,595 30,701 58,442 9,022 158,311 2,156,035 1 , 1 4 8 , 3 2 3 6 , 0 5 2 , 3 4 b 9 1 1 , 3 2 8 1 , 6 1 0 , 4 4 4 5 8 6 , 3 5 3 4 8 4 , 3 2 2 2 , 3 6 7 , 4 9 5 626,978 330,262 598,029 3 3 2 , 9 2 3 1 , 2 5 5 , 9 2 7 54,440 105,285 36,386 3 3 , 1 1 9 617,432 72,337 2 0 8 , 5 2 8 4 5 , 1 5 5 2 5 , 6 3 1 4 9 , 4 4 6 28,167 R e s e r v e b a l a n c e w i t h F . R . Bk. 97,085 16,337,730 U. S. T r e a s u r y bonds U. S. V i c t o r y n o t e s and Treasury notes U. S. C e r t i f i c a t e s of indebtedness O t h e r bonds, s t o c k s & s e c u r i t i e s l 7 2 , 9 6 5 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 Cash i n v a u l t 18,947 Si,Q46 16,677 Net demand d e p o s i t s 810,838 4,809,592 718,675 Time d e p o s i t s 246,738 833,652 71,566 7,389 41,513 9,631 9,019 16,759 152,138 26,256 14,323 3,970 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 . R. Bank: Secured by U.S. Govt, o b l i g , All other C 32,084 13,706 10,602 55,155 5,809 11,785 7,977 9,657 336,586 256,632 1 , 5 1 4 , 6 1 3 377,65b 2 1 5 , 2 6 5 470,137 2 4 4 , 5 5 3 933,036 553,Obl 152,514 166,04S 7 6 5 , 0 0 1 184,059 8 2 , 7 3 7 123,899 74,989 2,444 4,57s 5,179 13,945 3,852 2,984 1,051 1,305 5,566 11,215 10,472 13,825 1,371 4,735 36,983 5,344 2,620 7,118 1,115 1,266 4,323 3,104 675 3,532 1,403,014 20,327 284,678 663,94i 11,385,154 601,259 6,071 3,855,553 100,275 8,891 18,956 247,496 124,112 B 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 , March l 6 , 1923; n o t e a r l i e r . St.34oSc PRINCIPAL BE SOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F„ R. BANK AMD BRANCH CITIES AND IN OTHER SELECTED CITIES (-Amounts i n t h o u s a n d s of d o l l a r s ) Other A l l F. R. F. R. New York CityC i t y of Chicago selected cities Bank c i t i e s Branch c i t i e s Mar. 7 Feb. 28 Mar. 7 F e b . 28 Mar. 7 Feb. 28 Mar. 7 Feb, 28 Mar. 7 Feb. 28 Number of r e p o r t i n g h a n k s 63 63 49 311 311 49 259 259 207 207 Loans and d i s c o u n t s , g r o s s : S e c u r e d by U. S. g o v t , o b l i g . 79,070 54,073 37,201 152,865 190,246 48,972 48,763 40,332 43,512 35,095 Secured by s t o c k s and bonds 1,460,990 1,557,692 409,029 407,902 2 , 6 9 3 , 1 6 2 2 , 7 8 0 , 1 6 3 547,861 550,752 476,342 468,797 A l l o t h e r loans and d i s c o u n t s 2,137,150 2,087,816 654,343 637,769 4,723,079 4,653,398 1,548,909 1,545,777 1,373,405 1,357,965 T o t a l l o a n s and d i s c o u n t s 3 , 6 7 7 , 2 1 0 3 , 7 2 9 , 5 8 1 1 , 0 9 8 , 4 6 7 1 , 0 5 2 , £72 7 , 5 9 9 , 1 0 6 7 , 6 2 3 , 8 0 7 2 , 1 4 5 , 7 4 2 2 , 1 4 5 , 2 9 2 1 , 8 9 0 , 0 7 9 1 , 8 7 0 , 2 7 4 U, S, p r e - w a r bonds 37,815 106,261 37,805 106,253 3,361 3,050 99,818 99,262 77,098 77,277 -— U. S„ L i b e r t y bonds 411,389 396,790 36,757 35,418 638,906 623,273 250,60s 249,388 170,822 169,635 34,795 33,433 5,439 25,380 63,987 82,831 26,467 27,189 23,002 23,299 483,347 458,699 101,586 82,216 725,851 684,252 138,674 138,149 78,188 77,599 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 43,889 65,767 12,285 12,490 70,457 93,917 33,412 32,497 13,225 19,290 Other bonds, s t o c k s , and s e c u r i t i e s 543,290 540,677 188,672 186,686 1,189,890 1,185,090 574,689 578,451 421,456 422,755 U» S, T r e a s u r y b o n d s U. S, V i c t o r y n o t e s and Treasury notes T o t a l l o a n s and d i s c o u n t s and investments 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 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 , R. Bank: S e c u r e d b y U, S, Govt, o b l i g . 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 investments,per cent w. 5,231,735 5,262,752 1,446,567 1,428,112 10,388,015 10,392,432 3,246,690 3,248,243 2,703,025 2,689,113 567,869 598,049 150,675 147 , 537 999,136 1,005,997 228,804 233,092 175,074 169,221 67,209 66,336 30,624 29,173 146,959 142,987 59,022 57,503 78,697 76,990 1,037,673 1,030,135 7,786,082 7,908,653 1,890,925 1,899,182 1,708,147 1,716,777 1,163,260 1,152,877 818,241 811,850 9,220 4,319,334 4,469,536 571,136 508,750 370,822 367,688 1,874,052 1,811,100 38,591 38,591 8,942 8,942 74,546 74,339 16,635 16,550 9,094 131,655 17,323 132,995 17,636 18,666 3,331 19,776 6,4io 185,961 S3,73S 202,129 78,905 43,244 23,003 45,173 23,399 18,291 17,371 16,030 2.8 2,9 1.5 2.6 2,7 2.0 2.1 1.3 1.3 1.8 19,878
@FedFRASER