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STATEMENT FOE THE PRESS S t . 3517, • F e d e r a l Reserve Board M&y ^7» 1923. 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 , May IS) not e a r l i e r , ' CONDITION OF MEMBER BANKS IN LEADING CITIES Reductions of $64,000,000 i n l o a n s and of $16,000,000 i n i n v e s t m e n t s , accomp a n i e d by d e c r e a s e s of $91,000,000 i n n e t d e m a n d ' d e p o s i t s , of $25,000,000 i n time d e p o s i t s and of $11,000,000 i n Government d e p o s i t s , a r e shown i n t h e F e d e r a l Reserve Board 1 s weekly c o n s o l i d a t e d statement of c o n d i t i o n on May 9> 1923 > 775 member / banks i n l e a d i n g c i t i e s . Following the l a r g e r i n c r e a s e f o r the p r e c e d i n g week, l o a n s 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 Government) show a n e t l i q u i d a t i o n of $96,000,000 f o r the week under review; l o a n s secured by Government o b l i g a t i o n s i n c r e a s e d by $11,00Q ,000, and o t h e r , l a r g e l y commercial, loans and d i s c o u n t s - by $21,000,000. Changes i n t h e loan account r e f l e c t mainly the r e d u c t i o n d u r i n g t h e r e p o r t 'week of $32,000,000 i n l o a n s on s t o c k s and bonds by t h e member banks i n New York City, HcjSLing# of Government s e c u r i t i e s show- an i n c r e a s e f o r t h e week of about $5,000,000,*while those of c o r p o r a t e and o t h e r s e c u r i t i e s f e l l o f f $21,000,000. All 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 , $7>511,000,000, r e p r e s e n t a new h i g h t o t a l f o r the y e a r , b e i n g over $400,000,000 i n e x c e s s of the January 3 t o t a l . During t h e same p e r i o d l o a n s on Government s e c u r i t i e s d e c l i n e d $22,000,000 and l o a n s on o t h e r s e c u r i t i e s $53,000,000. 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 the F e d e r a l r e s e r v e banks dec r e a s e d d u r i n g t h e week from $456,000,000 to $+49,000,000, o r from 2 , 9 t o 2 , 7 p e r cent of t h e i r combined l o a n s and i n v e s t m e n t s . For member banks i n New York City a r e d u c t # i ° n from $149,000,000 t o $142,000,000 i n borrowings from the l o c a l r e s e r v e bank and from 2 , 6 to 2 . 7 p e r c e n t i n t h e r a t i o bf t h e s e borrowings to t o t a l l o a n s and i n v e s t ments i s n o t e d . Reserve b a l a n c e s of t h e r e p o r t i n g banks d e c l i n e d by $10,000,000, while t h e i r cash i n v a u l t went up about $12,000,000, Corresponding Changes f o r the member banks i n New Yofk City comprise a d e c r e a s e of $1$,000,000 i n r e s e r v e b a l a n c e s and an i n c r e a s e of $5,000,000 i n c a s h . Following i s a s t a t e m e n t 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 member banks, a s compared w i t h a week and a y e a r ago# 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 o t h e r . Investments, t o t a l U. S. bonds U. S, V i c t o r y n o t e s and Treasury 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 Increase or Decrease I n m i l l i o n s of d o l l a r s since May 2 . 1923 May 10, 1922 ' 4 64 + 1,046 + n 4g 96 + 515 + 21 + 579 + - 6 1 21 + + + + - Reserve b a l a n c e s w i t h F. R, Banks Cash i n v a u l t — + 10 12 + + 12 7 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 - H 91 25 + + + 60 364 726 - 37 + 299 T o t a l accommodation a t F. R. Banks C, „ . . . . . . . . . . ]_£, - ^3 246 393 3 59 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 , May I S , 1923; n o t e a r l i e r , PRINCIPAL EE SO URGE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADjpJG CITIES ( i n thousands of d o l l a r s ) May 9, 1923 May 2 , 1923 263,975 3,226,569 Nov. 8 , 1922 May 10, 192Z 786 798 273,027 3,923,012 7,790,079 287,119 3,706,407 7,271,735 331,987 3,3H,351 7,232,583 11,986,124 11,265,261 10,875,921 1,503,786 1,157,991 775 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 - - Secured by s t o c k s and bonds ( o t h e r than U. S. s e c u r i t i e s ) S t . 3517a. 281,323) - - - - 1,025,415 1,022,714) - 97,873 100,116) _ _ _ _ _ _ _ _ 893,464 887,660 682,317 500,063 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 - - - - - - - - - - - - - - - - - - - 139,459 140,092 96,596 136,364 Other bonds, stock and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - 2,131,996 2,152,645 2,241,320 2,191,283 16,491,061 16,570,674 15,789,220 14,861,622 Reserve balance with F„ R. Banks - - - - - - - - - - - - - - - - - - - Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - • 1,401,979 287,863 1,411,596 1,390,211 276,264 1,369,950 315,707 • 11,193,673 11,284,983 11,133,328 10,829,264 3,962,599 3,996,290 3,647,510 251,320 200,863 3,242,545 180,434 222,622 263,279 212,828 163,023 57,557 92,684 2-9 2.5 U, S. Treasury bonds - - U, S, V i c t o r y n o t e s and Treasury notes - T ot 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 - - - - - - - - - - - - - - - • - - - - B i l l s payable and r e d i s c o u n t s with Federal Reserve Batiks: Secured by U, S. Gervt. o b l i g a t i o n s - - - - - _ _ _ _ _ _ _ _ • - - - - a90,515 220,639 Ratio of b i l l s payable and r e d i s c o u n t s with F. R. Banks C, 1.0 s 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 , May 18, 1923* not e a r l i e r . St, 3517b PRINCIPAL EE SOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL EE SERVE DISTRICT AT CLOSE OF BUSINESS, MAY 3, 1523. F e d e r a l Reserve D i s t r i c t ur/ber of r e p o r t i n g banks Boston New York 46 108 Phila. S4 55 oans 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 . 13,024 108,507 17,908 Secured by stocks and bonds 241,047 1,657,328 269,238 All nt.'nsr loans and d i s c o u n t s 617,945 2,477,361 342,113 T o t a l l o a n s and d i s c o u n t s [. S. Pre-war bonds [. 3. L i b e r t y bonds F. S. T r e a s u r y bonds L S. V i c t o r y n o t e s and Treasury notes f. S. C e r t i f i c a t e s of Indebtedness Rich. Atlanta <Chicago S t . Louis 77 39 106 36 Minn. p Kans. Cy. D a l l a s 77 52 San Fran ; 66 Total 775 31,781 10,739 7,756 42,848 398,963 125,064 66,307 590,103 691,420 325,863 330,943 1,159,629 15,175 7,965 7,229 5,371 134,714 51,206 78,056 47,765 308,433 186.291 361,924 200,214 15,072 166,778 809,1*79 283,975 3,526,569 7,811.120 872,016 4,243,196 629,259 1,122,164 461,666 405,006 1,792,580 452,327 245,462 447,809 253,350 991,029 11,921,864 280,985 1,025,415 12,319 78,740 5,292 48,535 444,034 32,057 47,769 14,381 14,801 25,066 119,417 30,335 31,315 3,988 7,128 4,967 1,998 10,960 46,990 8,761 11,666 12,008 20,193 94,052 15,332 22,509 45,741 15,756 35,326 100,394 12,470 8,965 1,219 4,727 2,240 12,824 97,878 23,785 492,971 53,294 57,720 9,196 6,920 115,365 24,304 23,454 21,218 16,686 43,551 893,464 4,223 51,243 5,393 10,867 3,557 7,929 22,447 5,143 2,449 7,753 6,059 12,391 139,459 705,505 183,735 285,997 51,138 35,205 356,234 85,089 29,452 57,082 5,960 153,052 2,131,996 619,672 322,493 596,343 323,244 1 ,358,567 16,491,061 48,224 25,329 1,401,979 12,089 8,963 94,792 21,634 942,642 328,516 278,534 1,519,755 365,421 200,317 440,407 223,722 712,586 11,193,673 558,336 153,238 169,729 778,441 132,345 84,403 127,719 75,000 532,770 3,968,599 )ther bonds, s t o c k s & s e c u r i t i 3 3172,517 T ot al l o a n s and d i s c o u n t s and investments Clave. 1,168,892 6,020,541 933,619 1,651,062 592,174 486,240 2 , 4 l S , 2 l 4 Reserve b a l a n c e with F,R.Bk. 81,209 626,873 72,563 113,306 35,073 33,H0 208,898 42,033 jash i n v a u l t 19,238 84,933 15,823 31,923 13,509 10,194 55,026 8,255 20,569 6,271 237,863 fet demand d e p o s i t s 809,692 4,660,249 711,782 Dime d e p o s i t s 255,733 911,771 89,109 13,445 109,920 19,801 17,331 6,634 7,982 21,172 7,236 3,024 5,082 11,039 17,433 24o,l49 B i l l s payable and r e d i s c o u n t s with F. R. Bank: Secured by U.S. Govt, o b l i g . 5,555 All other 12,056 130,383 41,783 19,932 9,189 18,llG 17,470 l6,3%5 20,696 1,432 7,725 22,957 28,827 7,4o4 9,788 3,320 4,917 10,509 11,408 212 5,636 22,458 20,970 258,663 190,515 government d e p o s i t s 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 , May I S , 1923; not e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BAMS IN F. B. BANK : AND BRANCH (Amounts i n thousands of d o l l a r s ) All F. B. New York City City of Chicago Bank c i t i e s May 9 May 2 Afey 9 May 2 May 9 May 2 64 64 48 48 25S 258 Number of r e p o r t i n g banks 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 . Secured by stocks and bonds All o t h e r l o a n s and d i s c o u n t s 99,331 57,298 1,472,606 1,554,793 2 , 1 6 2 , 5 7 s 2,163,188 T ot al l o a n s and d i s c o u n t s s t . 3517c CITIES AND I F OTHER SELECTED CITIES F. E. Branch c i t i e s -May 9 May 2 207 207 33,842 453,034 687,760 32,456 457,705 194,638 2,774,873 182,3?! 2,869,173 ^,970 49,234 40,367 41,462 567,057 563,384 484,639 49o,46i 1,580,851 1,579,125 1,395,302 1,393,471 3,734,515 3,805,279 1,174,636 1,172,375 7,804,678 7,868,987 2,196,878 2,191,743 1 , 9 2 0 , 3 0 s 1,925,394 U. S. Pre-war bonds 37,884 37,884 3,592 3,891 U. S. L i b e r t y bonds 98,568 98,535 376,375 370,262 36,704 37,217 4 601,865 U. S. Treasury bonds 600,154 22,626 23,312 5,129 5,380 50,403 51,169 25,260 460,543 456,749 68,757 67,101 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 665,66s 659,060 46,36o 42,143 9,264 9,363 7S,l4o Other bonds, stocks, and s e c u r i t i e s 509,007 519,330 ^ 179,160 184,244 U. S. V i c t o r y n o t e s and Treasury n o t e s T ot al l o a n s and d i s c o u n t s and investments 5,187,310 5,254,959 1,477,572 Reserve balance with F, R. Bank C .jh 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 with F. R„ Batik; Secured by U. S, Govt, o b l i g . All o t h e r a n d 77,057 • 77,156 254,750 253,900 105,330 105,329 168,767 168,660 26,059 22,215 22,855 -147,659 148,409 80,137 80,191 74,910 32,150 41,673 23,169 1,139,808 23,509 1,154,912 569,705 574,289 422,483 423,444 1,479,571 10,439,133 10,508,030 • 577,945 593,004 147,785 141,914 999,347 1,008,671 69,815 65,214 29,832 29,058 147,166 I4O,OO5 4,153,791 4,249,859 1,035,246 1,051,531 7,566,031 7,657,663 3,309,519 3,313,229 2,742,409 2 , 7 4 9 , 4 1 5 235,466 234,382 167,166 165,543 60,515 58,313 80,182 77,946 1,938,873 1 , 8 9 4 , 8 7 1 1,685,769 1,702,449 1,122,405 1,157,977 837,622 838,862 44,690 47,262 22,364 23,786 649,931 100,84? 657,005 106,155 372,855 10,506 370,105 11,117 2,008,572 173,095 1,999,451 180,272 111,316 31,132 94,430 54,704 7,07s 19,733 15,637 22,036 173,164 123,310 174,580 152,960 54,227 35,515 2.8 3.1 2. 7 Ratio of b i l l s payable and r e d i s c o u n t s l 0 a n S Other selected c i t i e s May 9 May 2 310 310 2,7 2.8 1.8 2.5 57,295 38,611 2.9 31,272 31,690 2.3 31,104 31,111 2,3
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