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STATEMENT FOR THE PRESS St. 4258 F e d e r a l Reserve Board, October 23, 1924. F.3leased 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 , Oct. 24; not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES I n c r e a s e s of $82,000,000 i n loans and i n v e s t m e n t s , of $239,000,000 i n n e t demand d e p o s i t s and of $36,000,000 i n time d e p o s i t s a r e shown i n the 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 October 15 of 744 member banks i n leading c i t i e s . Loans on U. S. Government s e c u r i t i e s d e c l i n e d by $2,000,000 and loans on corpor a t e s e c u r i t i e s - by $3,000,000, while " a l l o t h e r , " l a r g e l y commercial loans and d i s c o u n t s i n c r e a s e d by $62,000,000. Holdings of U. S. bonds and 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 advanced by $5,000,000 and $4,000,000, r e s p e c t i v e l y , and those of corpor a t e s e c u r i t i e s - by $29,000,000. Treasury n o t e s show a r e d u c t i o n of $13,000,000. T o t a l l o a n s and d i s c o u n t s of the New York City members show a n e t d e c r e a s e of $9,000,000, d e c l i n e s of $3,000,000 i n l o a n s on U. S. Government s e c u r i t i e s and of $23,000,000 i n l o a n s on c o r p o r a t e s e c u r i t i e s b e i n g o f f s e t i n p a r t by a n i n c r e a s e of $17,000,000 i n "All o t h e r " l o a n s and d i s c o u n t s . Investments of t h e s e banks i n U. S. Government s e c u r i t i e s were $2,000,000 l e s s and t h e i r h o l d i n g s of c o r p o r a t e s e c u r i t i e s $9,000,000 l a r g e r than a week e a r l i e r . Of the t o t a l gain of $239,000,000 i n n e t demand d e p o s i t s , $53,000,000 was r e ported f o r the New York d i s t r i c t , $42,000,000 - f o r the San F r a n c i s c o d i s t r i c t , i $4-1,000,000 - f o r the Boston d i s t r i c t , $27,000,000 - f o r t h e Chicago d i s t r i c t and $26,000,000 - f o r the Cleveland d i s t r i c t . Time d e p o s i t s show an i n c r e a s e of $36,000,000, of which $ l 4 , 0 0 0 , 0 0 0 was reported f o r banks i n the New York d i s t r i c t . Reserve b a l a n c e s of a l l r e p o r t i n g banks were $12,000,000 l e s s and those of New York City banks $33,000,000 l e s s than a week ago. A summary 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 members during the weex and year ending October 1 5 , 1924, f o l l o w s : Increase or decrease Week 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 + $57,000,000 2,000,000 3,000,000 4- 6 2 , 0 0 0 , 0 0 0 Investments, t o t a l U. S, bonds U. S. T r e a s u r y 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 Other bonds , s t o c k s and s e c u r i t i e s + + Reserve b a l a n c e s w i t h F. R. 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 Government d e p o s i t s Total accommodation a t F.R. Banks . . C. t i - - 44- + 25,000,000 5,000,000 13,000,000 4,000,000 29,000,000 12 ,000 , 0 0 0 2,000,000 4- 2 3 9 , 0 0 c , c o o 36,000,000 22,0CC,000 + during Year 4 $ 525,000,000 68,000,000 4724,000,000 4169,000,000 - 4+ - 444 + Uw 44- 935,000,ccc 366,000,000 284,000,000 211,000,000 642,000,000 250,000,000 3,000,000 1,858,000,000 702,000,000 79,000,000 478,000,000 S t . 4255a 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 , October 24, 1924; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES " ' ( i n thousands of d o l l a r s ) Oct. 15, 1924 ~ Tfeibsr 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 : Sac-ured by U, S. Government o b l i g a t i o n s So cur 6 by stocks and do rid s (o tiisr t n&.n U. 3, s s c u r i t i B s ) - - - - - - All o i h e r loans 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. 3. Pre-war bonds - - U. 8. L i b e r t y bonds - - - - - - - - - - - - - - - - - - - - U. S. Treasury bonds - - - - - - - - - - - - - - U. S, S'r&asurj notes - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - -- - - - - - - - -- - - - - 744 190,500 - — 4 , > 997 - 8,200,415 - - - 12,785,912 - - 2b5,153 1,433,250 - - - - - -- -- - - - Oct. 8, 1924 744 Apr. l o , 1924 755 Oct. 17, 1923 770 _ 192,514 /o6 8 , 144,729 212,929 3 i&vo,j)2o 7 ,976 >87 9 255,451 3,664,912 8,038,007 12,729,309 12,0o2,13'5 11,961,373 2b5 > 534 1,429,504 271,295 1,072,544 274,273 1,0-42,500 b9,204 67 ,877 70,646 55,409 590,095 602, 5<9 729 , 773 874,010 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 - - - - - - - - - - - - - - - - - - - - - 302,278 298,297 H3,9bb 90,863 Other bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - - - 2,736,198 2,757,578 2,291,455 2,144,561 18,232,690 12,150,628 l6,612,115 16,472,091 1,659,489 1,671,84o 1,442,186 1,409,948 293,156 291,142 273,425 290,422 13,044,243 12,805,225 11,339,752 11,186,050 4,731,872 4,695,523 4,250,751 4,023,620 - 210,106 232,139 224,293 131,371 - 56,889 47,184 6 l , 112 42,6oi 106,490 135,935 280,310 301,623 .6 ,6 1,5 3.5 Total l o a n s and d i s c o u n t s and investments - - - - - - - - Reserve balances w i t h F e d e r a l Reserve "Banks - - - -- -- - - - - - - - - -- - - - - - - - Cash i n v a u l t Wet 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 Federal Reserve Banks: Secured bv U. S. Government o b l i g a t i o n s - - - - - - - - All Other - - - - - - - - - - - - P a t i o of b i l l s payable and r e d i s c o u n t s with Federal Reserve Banks t o t o t a l loans and i n v e s t m e n t s , p e r cent - - - - - - - - - - - - - - C. 4 - - - - - - - - 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 , October 24, 1924; n o t e a r l i e r . S t . 42Sao. PRINCIPAL RESOURCE A m LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, OCTOBER 1 5 , 1 9 2 4 . Boston F e d e r a l Reserve D i s t r i c t Number of r e p o r t i n g "banks- 43 New York 108 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 . 8,927 72,918 Secured by s t o c k s and bonds 282,427 1 , 9 7 3 , 0 3 5 A l l o t h e r l o a n s & d i s c o u n t s 643,515 2 , 6 3 0 , 6 1 5 T o t a l l o a n s and d i s c o u n t s 934,869 4 , 6 7 6 , 6 1 8 Phila. 55 10,648 283,269 389,463 ( i n t h o u s a n d s of d o l l a r s ) Cleve. Rich. A t l a n t a Chicago S t . L o u i s 77 75 36 103 33 Minn. -Cans. Cy. D a l l a s San F r a n . 66 51 72 25 3,212 18,404 6,031 8,187 32,198 9,869 2,819 6,342 418,663 124,311 62,289 696,998 153,747 52,163 83,848 59,5&7 7 1 6 , 7 9 7 3 4 3 , 2 9 5 3 6 3 , 1 7 5 1 , 2 2 1 , 1 7 4 3 1 9 , 4 0 3 2 0 6 , 0 9 s 3 2 4 , 8 2 7 214,968 10,939 192,630 233,085 Total 744 190,500 4,382,937 8,206,415 683,320 1 , 1 5 3 , 8 6 4 473,637 4 3 3 , 6 5 1 1 , 9 5 0 , 3 7 0 483,019 2 b l , 0 8 0 415,017 277,753 1 , 0 4 2 , 6 5 4 1 2 , 7 2 5 , 9 1 2 U. S, P r e - w a r bonds 13,730 51,470 10,692 45,517 26,512 14,836 23,019 14,807 5,530 11,404 18,534 26,102 265,153 U. S. L i b e r t y bonds 87,712 679,293 50,223 197,927 29,276 9,422 157,179 22,924 22,893 40,459 12,476 123,466 1,433,85c U. S. T r e a s u r y bonds 5,933 21,671 3,035 2,118 2,097 623 ll,04i 2,25b 230 1,633 l,l66 l7,4oi 69,204 U. S. T r e a s u r y n o t e s 11,432 279,042 24,120 55,691 3,220 3,142 119,312 10,160 12,335 23,123 8,214 33,572 590,095 U. S. C e r t i f i c a t e s of Indebtedness 9,610 154,861 18,514 20,512 8,459 2,553 , 34,591 2,607 9,179 6,504 5,103 29,725 302,272 2 0 7 , 6 5 2 1,099,048 249,403 341,428 62,618 399,094 94,543 32,016 67,325 17,462 173,239 2,726,198 Other bonds, s t o c k s and securi t i e s 42,365 T o t a l l o a n s and d i s c o u n t s 1 , 2 7 0 , 9 4 4 6 , 9 6 2 , 0 0 3 1,039,367 1,217,057 6 0 6 , 4 7 9 5 0 6 , 5 9 2 2 , 6 9 4 , 6 0 6 6 3 0 , 3 2 1 352,263 565,525 341,308 1 , 4 4 6 , 2 1 9 1 8 , 2 3 2 , 6 9 0 and i n v e s t m e n t s Reserve b a l a n c e s w i t h F. R.3k. 99,321 720,068 75,627 125,954 36,994 37,604 239,296 45,496 30,435 42,535 29,658 110,501 1,659,429 Cash i n v a u l t 21,099 84,848 15,644 30,650 13,992 10,896 56,531 7,932 5,222 12,788 11,212 21,676 293,156 Net demand d e p o s i t s 915,566 5,763,028 745,410 1 , 0 1 2 , 6 2 5 355,311 300,765 1 ,795,314 375,393 245,052 4 5 8 , 1 5 0 247,425 Time d e p o s i t s 331,075 1,120,602 163,64s 25,960 46,862 32,276 26,814 10,500 7,514 19,075 3,606 2,028 150 775 40,513 2,120 3,125 6,765 2,160 3,599 8,355 1,46l 7,437 1,010 569 977 5,244 212 Government d e p o s i t s 692,758 179,270 129,929 273,693 2 0 6 , 5 4 9 824,204 1 3 , 0 4 4 , 2 4 3 91,12# 657,829 4,731,872 3,812 5,379 25,680 210,106 302 408 225 905 1,200 2,259 56,889 47,184 9 0 , 1 1 5 134,622 B i l l s p a y a b l e and r e d ! s o 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. for FRASER Digitized 13,636 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 , October 2 4 , 1924; not e a r l i e r . S t . 4288c, PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F. R. BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES New York C i t y Oct. 15 Oct. 8 Number of r e p o r t i n g b a n k s Loans and d i s c o u n t s , g r o s s : Secured by U . S . G o v t , o b l i g a t i o n s Secured by s t o c k s and bonds 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 6? 67 67,567 70,414 1,764,034 1,786,235 2,332,281 2,315,784 ( i n t h o u s a n d s of d o l l a r s ) A l l F. P.. Bank c i t i e s C i t y of Chicago O c t . 15 Oct. 8 Oct . 15 Oct. 8 47 24,944 535,317 736,279 47 255 F. R. Branch c i t i e s Oct. 15 Oct. 8 195 254 195 Other selected c i t i e s O c t , 15 Oct. 2 294 295 525,003 3,223,327 729,439 5,215,827 3,235,232 634,591 619,722 5,160,272 1,628,830 1,623,156 226,136 6,136 26,679 530,579 536,806 1,361,758 l,3ol,301 2,570,786 3,528,702 2 , 2 9 6 , 6 5 3 2,275,321 1,918,473 1,924,786 25,323 4 , 1 6 3 , 9 3 2 4 , 1 7 3 , 0 3 3 1,296,540 1 , 2 7 9 , 8 3 0 131,132 133,192 33,232 32,?43 U, S, p r e - w a r bends 40,285 40,S60 4,127 4,127 91,964 91,821 74,465 74,36.1 98,724 99,352 U, S. L i b e r t y bonds 592,010 593,405 83,011 54,277 899,392 898,516 343,410 340,060 191,048 190,922 U. S. T r e a s u r y b o n d s 14,529 13,656 3,511 3,471 33,732 32,676 17,290 17,511 18,176 17,390 U. S. T r e a s u r y n o t e s 259,994 263,736 86,313 95,784 431,028 442,840 111,008 109,947 48,059 49,742 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 150,189 142,585 18,189 12,193 227,625 225,473 58,464 57,539 16,129 15,235 Other b o n d s , s t o c k s and s e c u r i t i e s 346,167 836,902 190,264 186,371 1,596,295 1,573,211 678,730 676,111 511,113 508,256 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 6 , 0 6 7 , 7 0 6 6,070,177 1 , 6 8 2 , 4 5 5 1 , 6 7 2 , 0 5 9 1 1 , 8 5 0 , 8 8 8 11,793,239 3,580,080 3,551,700 725,511 753,597 166,231 172,062 1,204,494 1,238,063 270,5^3 257,745 184,452 176,032 69,919 70,004 30,597 27,627 150,527 145,742 63,020 63,422 79,609 81,972 5 , 2 2 6 , 0 5 5 5,189,957 1,246,978 1 , 2 3 4 , 1 2 7 9,173,H2 9,039,268 2,134,801 2,055,035 2,358,174 1 , 3 6 6 , 8 6 8 1,355,675 60,900 152,620 56,770 978,657 921,674 15,863 18,619 8,374 10,422 7,631 i6,i64 15,111 Reserve b a l a n c e s 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: Secured by U . S . G o v t , o b l i g a t i o n s s All o t h e r 785,977 38,508 774,923 411,870 4io,5l4 2,386,347 37,909 9,143 9,834 137,473 33,650 10,653 39,850 25 25 36,565 20,229 10,606 12,693 10,791 44,495 17,062 C. 2,301,722 2,805,689 J 1,736,330 1,710,922 8,243
@FedFRASER