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STATEMENT FOB THE PRESS Released f o r p u b l i c a t i o n S t . 37^0 Friday a f t e r n o o n , Oct. 2b; F e d e r a l Reserve Board, not e a r l i e r . Octooar 25, 19*3 CONDITION OF MEMBER BANKS IN LEADING CITIES Changes f o r t h e week ending October 17 i n the c o n d i t i o n of aocut 770 member banks in l e a d i n g c i t i e s from which r e p o r t s a r e received by the F e d e r a l Reserve Board include an i n c r e a s e of $126,000,000 in n e t demand d e p o s i t s , and a d e c r e a s e of $78,000,000 i n Government d e p o s i t s . Loans and investments of t h e r e p o r t i n g members, as well as accommodation a t t h e F e d e r a l r e s e r v e banks, show but s l i g h t changes. Loans secured by Government o b l i g a t i o n s show an i n c r e a s e of $1,000,000, loans on c o r p o r a t e s e c u r i t i e s - a nominal i n c r e a s e , and o t h e r , l a r g e l y commercial, loans an i n c r e a s e of $4,000,000. Holdings of United S t a t e s s e c u r i t i e 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 d e c l i n e d by $13,000,000 - 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 by $5,000,000, U. S. bonds by $4,000,000, and Treasury n o t e s by $1,000,000. Holdings of c o r p o r a t e s e c u r i t i e s show an i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 . Loans and d i s c o u n t s of member banks i n New York City increased oy $7,000,000. Loans on government o b l i g a t i o n s declined -oy $1,000,000, and loans on stocks and bonds and a l l o t h e r l o a n s increased by $4,000,000 each . T o t a l investments of t h e New York i n s t i t u t i o n s increased by $7,000,000, government s e c u r i t i e s showing an i n c r e a s e of $1,000,000 and c o r p o r a t e s e c u r i t i e s an i n c r e a s e of $6,000,000. Net demand d e p o s i t s of a l l r e p o r t i n g banks increased by $126,000,000. Of t h e t o t a l i n c r e a s e t h e banks i n the New York d i s t r i c t r e p o r t an i n c r e a s e of $77»000,000, those in t h e Boston d i s t r i c t - an i n c r e a s e of $34,000,000 and t h o s e in t h e San Franc i s c o d i s t r i c t - an i n c r e a s e of $13,000,000, Time d e p o s i t s increased by $13,000,000 and government d e p o s i t s , because of l a r g e withdrawals from government d e p o s i t a r i e s i n c o n n e c t i o n w i t h i n t e r e s t and o t h e r disbursements of t h e Treasury, decreased by $78,000,000. New York C i t y banks r e p o r t an i n c r e a s e of $11,000,000 in time d e p o s i t s and a d e c r e a s e of $19,000,000 in government d e p o s i t s . Reserve balances of a l l r e p o r t i n g banks increased by $37,000,COO while cash in v a u l t decreased by $15,000,000. 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 t h e i r r e s p e c t i v e Reserve banks d e c l i n e d from $590,000,000 t o $582,000,000 or from 3 - 6 t o 3*5 p.:r cent of t h e i r t o t a l loans and i n v e s t m e n t s . For t h e New York City banks a r e d u c t i o n from $138,000,000 t o $104,000,000 i n borrowings from the l o c a l r e s e r v e bank and from 2.7 t o 2 p e r c e n t in t h e r a t i o of t h e i r borrowings t o t o t a l loans and investments i s not ed. Following 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 cf r e p o r t i n g members, as 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. Government o b l i g a t i o n s . . Secured by s t o c k s and bonds . Investments, t o t a l » , Increase or Decrease In m i l l i o n s of d o l l a r s since Oct. 10. 1923 Oct. IS.1922 + + 656 5 + 26 1 97 + + 4 779 S 68 u — 104 + 1 18] s 44 + 103 5 • 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 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 + - Net demand d e p o s i t s . Time d e p o s i t s . . . Total accommodation C. . , . . . . . . . . . . at F. R. Banks . . . . . + + - 37 15 - 55 5 73 126 13 + 171 120 420 8 + 308 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 26, 1923; not e a r l i e r . St. 3 ,'60a PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEM3ER BANKS IN LEADING CITIES (In thousands of d o l l a r s ) • Oct. 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 : S e c u r e d by U. S . Gov't. o b l i g a t i o 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 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 . P r e - w a r bonds - - - - - - - - - - - - - - - - - - - - - - U. S . L i b e r t y bonds - - - - - - - - - - - - - - - - - - - - - - - 17, 1923 770 258,451 3,664,912 8,038,007 11,961,370 274,27s Oct. 10, 1923 770 Apr. 18, 1923 777 Oct. 18, 1922 787 257,452 3,664,713 8 , 0 3 3 , 757 277,838 3,773,046 7,770,227 284,015 3,761,800 7,259,054 11,955,922 11,821,111 11,304,669 274,029 282,2 77) 1,042,500 1,045,335 1,036,385) 103,036) 1,506,289 U. S . T r e a s u r y bonds - - - - - - - - - - - - - - - - - - - - - - 85,409 85,997 U. S . T r e a s u r y n o t e s - - - - - - - - - - - - - - - - - - - - - - 874,010 875,390 *907,230 *691,367 U. S . C e r t i f i c a t e s o f indebtedness 90,863 99,365 171,200 135,290 2,144,561 2,139,838 2,157,771 2,247,115 16,472,991 16,479,010 15,884,930 1,438,241 1,465,215 Other bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 290,422 N e t demand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - 11,186,050 Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - 4,023,620 16,475,926 1,372,450 305,200 11,059,895 4,010,199 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - 131,371 209,040 300,105 302,561 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 e d e r a l R e s e r v e Banks: S e c u r e d by U. S . Government o b l i g a t i o n s - - - - - - - - - - - All other - - - - - - - - - - - - - - - - - - - - - - - - - - - 280,310 301,623 297,920 291,726 236,419 175,991 119,957 153,620 3.5 3.6 2.5 1.7 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 R e s e r v e b a l a n c e w i t h F e d e r a l R e s e r v e Banks Cash i n v a u l t - - - - - - - - R a t i o o f 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 e d e r a l R e s e r v e Banks t o t o t a l l o a n s and i n v e s t m e n t s , p e r c e n t - - - - - - - C. 1,409,948 278,631 295,809 11,217,805 11,305,835 3,966,813 3,603,873 ^Includes Victory n o t e s . 1 o l . w < fo.: y i - o l i v a t i c n F r i d a y a f t e r n o o n , October 26, 1923; n o t e a r l i e r . y<o0s ^ FRIKGIF/:, RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS, OCTOBER 17, 1923( I n t h o u s ands of d o l l a r s ) F e d e r a l Reserve D i s t r i c t B o s t o n New York P h i l a . C l e v e . R i c h . A t l a n t a Chicago S t . Louis Minn. Kans.Cy. D a l l a s San. F r a n . T o t a l Ifember'of r e p o r t i n g banks 4) 112 55 SI 77 : T o t a l l o a n s anj d i s c o u n t s I S iBB. IS 12,566 U. S, L i b e r t y bonds U. S. T r e a s u r y bonds 75,104 4,838 IL S. T r e a s u r y n o t e s T0 1<* 36 28 76 52 65 7 70 ,15 J:! 5:1 i:l i:5 jlihiljI 8 9 6 , 2 3 2 4 , 1 7 2 , 3 3 2 637,535 1 , 1 3 2 , 5 5 0 467,999 4 3 1 , 4 1 8 1 , 7 8 8 , 5 2 7 469, 262 243,480 4 4 1 , 2 5 5 280,298 1 , 0 0 0 , 4 3 2 " . 9 6 1 , 3 7 0 TJ, S. P r e - w a r bonds 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 securities 39 45,130 10,698 471,003 43,537 33,939 26,535 468,042 3,269 49,312 5,695 16,126 3,76b 173,160 730,394 150,044 47,990 29,427 14,470 115,668 27,799 13,495 1,670 4,697 3,739 6,063 55,267 14,895 8,66l 11,423 24,502 15,204 94,531 23,551 13,033 45,757 5,450 12,185 7,610 955 120,705 18,410 27,826 19,329 20,516 30,391 14,323 95,349 1,99s 15,373 12,460 41,849 4,913 20,032 5,861 3,346 3,842 4,044 10,707 296,074 51,127 43,445 332,375 53,532 27,369 60,575 11,559 154,604 9,778 2,753 274,275 1,042,500 85,409 874,010 90,563 2,144,561 ^ in^st^nt d s lSC0UnfcS 1,204,534 5,932,565 928,561 1,668,024 597,739 515,474 2,393,160 623,430 324,670 590,931 345,111 1,345,792 16,472,991 Reserve balance with F.R.Bk. Cash i n v a u l t Net d e m ^ d d e p o s i t s Time d e p o s i t s Government deposits 92,140 633,169 63,677 21,069 80,422 16,623 s4s,65l 4,717,232 686,309 2bS,937 906,734 104,785 23,086 32,027 9,755 106,311 32,753 37,377 33,102 203,637 39,530 20,896 46,368 27,691 14,084 10,562 55,280 8,163 5,647 12,321 10,171 917,670 340,620 262,448 1,466,097 333,606 198,315 416,032 2 4 7,734 598,423 151,534 179,415 758,754 190,183 53,026 133,514 75,905 15,741 4,726 6,S60 13,368 5,658 2,567 1,635 5,0ol 100,850 1,409,945 23,297 290,422 751,336 11,186,050 542,060 4,023,620 10,584 131,37% 18,197 30,717 301,623 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 s!curedRbyBu!s:Govt. obiig. A l l Other C. 7,179 22,725 97,934 46,375 18,991 15,022 17,481 17,890 15,370 25,886 25,955 35,339 13,616 32,622 35,060 45,027 8,215 15,112 6,694 19,370 2,29s 5,552 280,310 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 26 e 1923; not e a r l i e r . S t . 37oOc PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BJ\N%S IN E, R. BANK AND BRANCH CITIES AND IN OTHER SET 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 a t i o n s Secured by s t o c k s and bonds All other l o a n s and d i s c o u n t s Total l o a n s and d i s c o u n t s u. S. Pre-war bonds u. S. L i b e r t y bonds New York C i t y Oct. 17 Oct. 10 66 66 ( i n thousands of d o l l a r s ) A l l F, E. City of Chicago Bank c i t i e s Oct. 17 Oct. 10 Oct. 17 Oct. 10 4 9 49 25s 25s F. R„ Branch c i t i e s Oct. 17 Oct. 10 206 206 94,121 95,141 29,502 28,307 179,894 179,469 42,071 42,025 1,292,149 1,287,997 4 3 7 , 5 5 5 43o,4b7 2,569,490 2 , 5 6 7 , 1 5 4 5 9 6 , 4 1 0 600,350 2 , 2 7 5 , 7 2 2 2,272,127 3,661,992 3,655,265 1,156,420 1,149,089 7,726,832 7,732,417 2,298,999 2,297,077 37,428 37,275 4,113 4,117 92,749 76,641 92,995 76,625 :'P).a) CITIES Other selected c i t i e s Oct. 17 Oct. 10 306 306 499,012 36,486 35,952 497,209 1,935,539 1,926,425 104,858 104,409 405,491 405,759 37,689 36,778 631,984 629,346 243,416 247,356 S, Treasury bonds 18,451 167,100 18,462 168,153 5,206 5,198 44,388 45,234 20,983 20,937 20,038 u. S. Treasury n o t e s 19,826 433,600 431,651 73,205 72,824 643,576 641,214 81,849 5,718 6,237 151,557 11,493 12,151 148,585 39,228 41,528 34,329 4o,4oi 17,306 82,619 17,436 525,799 519,731 158,721 157,932 1,132,581 586,945 583,516 425,032 431,689 580,767 579,552 142,608 132,722 65,341 73,473 30,24s 30,807 ,001,667 144,544 233,038 63,876 224,924 66,411 175,243 161,323 4,227,681 4,160,437 935,491 82,002 83,006 981,659 369,154 365,054 861,801 6,340 838,299 9,827 25,506 18,507 14,905 u. 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 Total l o a n s and d i s c o u n t s and investments Reserve balance 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 Government d e p o s i t s 28,130 606,717 47,026 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 a t i o n s A l l other 67,765 35,907 98,111 39,739 Time d e p o s i t s Ratio of b i l l s payable and r e d i s c o u n t s w i t h F, R. Bank to t o t a l loans and investments, per cent Digitized W. for FRASER 617,648 2.0 2.7 18,512 3.3 2.3 35,531 . 986,203 155,783 135,511 34,513 54,846 11,327 15,683 157,563 165,683 177,061 165,917 80,198 78,794 74,253 42,549 54,997 42,065 51,556 3.1 3.3 80,943 4.7 4.5 3.5 3.4
@FedFRASER