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STATEMENT FOR THE PRESS 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 , Oct. 27; not e a r l i e r . SU._S.L2G. F e d e r a l Reserve Board, October ^ 6 , 1 9 ^ . CONDITION OF MEMBER BANKS IN LEADING CITIES I n c r e a s e s of $187,000,000 i n l o a n s and d i s c o u n t s , l a r g e l y of p a p e r s e c u r e d by c o r p o r a t e o b l i g a t i o n s , and of $142,000,000 of U. S. bonds f f o l l o w i n g t h e consummation on October l 6 of t h e r e f u n d i n g l o a n and t h e a l l o t m e n t of over $511,000,000 of newly i s s u e d b o n d s , a r e shown i n t h e F e d e r a l Reserve B o a r d ' s weekly s t a t e m e n t of c o n d i t i o n on October 24 of 787 member b a n k s i n l e a d i n g c i t i e s . A l l c l a s s e s of l o a n s show l a r g e r f i g u r e s than t h e week b e f o r e : l o a n s secured by Government o b l i g a t i o n s - by $ 2 1 , 0 0 0 , 0 0 0 , l o a n s s e c u r e d by s t o c k s and bonds - by $1^9,000,000 and 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 - b y $ 1 7 , 0 0 0 , 0 0 0 . Apart from t h e c o n s i d e r a b l e i n c r e a s e i n t h e h o l d i n g s of U, S. b o n d s , h o l d i n g s of o t h e r Government s e c u r i t i e s show b u t m o d e r a t e c h a n g e s , an i n c r e a s e of $9,000,000 i n T r e a s u r y n o t e s b e i n g n e a r l y o f f s e t by r e d u c t i o n s i n t h e amounts of V i c t o r y n o t e s and T r e a s u r y c e r t i f i c a t e s h e l d . 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 d e c l i n e d by $ 8 , 0 0 0 , 0 0 0 , Member banks i n New York C i t y r e p o r t i n c r e a s e s of $115,000,000 i n loans and d i s c o u n t s , of which $ 9 6 , 0 0 0 , 0 0 0 r e p r e s e n t s an i n c r e a s e i n 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 $51,000,000 i n U, S. bonds, a s a g a i n s t a r e d u c t i o n of $12,000,000 i n o t h e r , l a r g e l y Government, s e c u r i t i e s . Payment f o r t h e newly a l l o t t e d r e f u n d i n g bonds was made l a r g e l y by c r e d i t on the books of t h e s u b s c r i b i n g b a n k s and a c c o r d i n g l y Government d e p o s i t s show an i n c r e a s e f o r t h e week of $ 2 0 2 , 0 0 0 , 0 0 0 , t h e New York b a n k s , r e p o r t i n g a n i n c r e a s e under t h i s h e a d of $ 8 0 , 0 0 0 , 0 0 0 . Other demand d e p o s i t s ( n e t ) of t h e r e p o r t i n g banks show an i n c r e a s e of $ 4 9 , 0 0 0 , 0 0 0 and t h e i r time d e p o s i t s - art i n c r e a s e of $ 1 ) , 0 0 0 , 0 0 0 . Member b a n k s i n New York C i t y , because of t h e s u b s t a n t i a l i n c r e a s e of bank b a l a n c e s f o r t h e week, r e p o r t a g a i n of $ 8 9 , 0 0 0 , 0 0 0 i n demand d e p o s i t s , w i t h no change i n time d e p o s i t s . Borrowings of t h e 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 F e d e r a l r e s e r v e b a n k s , n o t w i t h s t a n d i n g t h e l a r g e i n c r e a s e i n t h e l o a n s o u t s t a n d i n g , d e c l i n e d from $278,000,000 t o $ 2 7 4 , 0 0 0 , 0 0 0 , o r from 1* 8 to 1 . 7 p e r c e n t 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 t h e New York C i t y members a d e c r e a s e of accommodation a t t h e l o c a l r e s e r v e bank from $ 1 2 2 j 0 0 0 , 0 0 0 t o $ 7 5 , 0 0 0 , 0 0 0 , o r from 2 , 4 to 1 , 5 p e r c e n t i n t h e r a t i o of accommodation, i s shown. 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 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 on October 18, 1922, a s compared w i t h a week and a y e a r a g o : Loans and d i s c o u n t s - t o t a l 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 a n d bonds . All other Increase or Decrease I n m i l l i o n s of d o l l a r s since O c t . 11, 1922 Oct. 19, 1921 + 187 ~ 172 . . . . . . + 21 288 + + 1^9 730 + 17 ~ 6l4 Investments, t o t a l U. S. bonds Victory notes . . . " Si S. 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 + + ~ + - 135 142 1 9 7 8 Reserve b a l a n c e s w i t h F. R. Banks Cash i n v a u l t + 25 ^ 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 - 202 ^9 13 4 + + - + + + + " + + + 1,226 626 ll6 528 3^ 15*+ 210 9 162 1,058 632 556 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 , October 2 J , 1922/ n ° t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING CITIES (Amounts i n t h o u s a n d s of d o l l a r s ) A p r i l 19, 1922 O c t . 11, 1922 Oct. 13, 1922 737 787 300 St.3120a, Oct. 19,1921 809 Number of r e p o r t i n g banks 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 r e d i s c o u n t e d w i t h F . E. Bank: Secured "by U. S. Govt, 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 - - - - - - - - - - - - - - - - - - - - 284,015 3,761,800 7,259,054 263,333 3,612,942 7,242,171 353,925 3,215,688 7,271,246 571,640 3,032,079 7,S73,5U1 T o t a l l o a n s and d i s c o u n t s - - - - - - - - - - - - - - - - - - - - - 11,304,369 11,113,446 10,845,859 11,477,260 U. S. bonds - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,506,239 1,364,192 1,068,12s 880,133 U. S. V i c t o r y n o t e s - - - - - - - - - - - - - - - - - - - - - - - - - - 39,605 40,663 32,620 155,929 645,980 636,643 389,305 117,709 141,072 147,682 179,386 107,493 2,247,115 2,255,276 2,133,777 2,092,861 15,884,930 15,562,902 14,704,075 14,331,335 R e s e r v e b a l a n c e w i t h F . R. Bank - - - - - - - - - - - - - - - - - - - - 1,465,215 1,440,372 1,343,533 1,254,799 Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 295,809 300,382 279,895 305,062 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 b o n d s , s t o c k s , and s e c u r i t i e s - - Total loans & d i s c o u n t s & 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. Net demand d e p o s i t s - . - - - - - - - - - - - - - - - - - - - - - - - - - 11,305,335 . 11,256,711 10,623,997 10,247,714 Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,593,373 3,579,652 3,172,586 2,961,392 Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - 302,561 100,424 243,260 l4o,446 B i l l s p a y a b l e w i t h F e d e r a l Reserve Bank: S e c u r e d by U. S. Govt, o b l i g a t i o n s - - - - - - - - - - - - - - - - All other - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 119,H3 632 155,571 692 77,034 433 215,964 1,339 B i l l s r e d i s c o u n t e d w i t h F e d e r a l R e s e r v e Bank: Secured by U. S. Govt, o b l i g a t i o n s - - - - - - - - - - - - - - - - All other - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 344 152,988 823 120,657 3,037 129,102 46,122 565,750 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 i n v e s t m e n t s , p e r c e n t - - - - - - - - - - - - - - 1-7 1.8 1.4 5.6 JL S "fc •3120b• 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 , O c t . 2 7 , 1922; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS OCT. 1 c , 1 ^ - . (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 Klrriter of r e p o r t i n g banks Loans and d i s c o u n t s , i n c l u d i n g "bills r e i i s c o u n t e d with Boston *7 New York % Fhila. 56 Cleve. A Rich. 79 Atlanta M ESe?Jr5Hs IS HIS I I II T o t a l l o a n s and d i s c o u n t s Chicago «9 St Louis 37 1 II Minn. 3* Kans Cy. D a l l a s 79 ^ If l i l i 8 ) 2 , ^ T ^ 8 9 , 8 6 l 6 0 3 , 2 6 9 1,0)6,001 4 4 l , 6 0 ? 388,377 1,6)2,264 4 ) 5 , 4 4 4 246,759 4 ) 7 , 2 8 2 268,042 San F r a n . Total M 593,312 U , 3 0 4 , ^ 9 130,096 1 , 5 0 6 , 2 8 9 109,297 616,46o 68,707 180,246 6 ) , 101 29,418 139,937 47,615 25,705 60,507 35,200 1,276 14,2)4 3,318 2,650 268 1,373 4,159 3,24) 264 1,559 537 6,689 39,605 21,637 4oi,04i 27,032 39,440 4,193 2,856 80,518 l6,24o 9,883 15,740 5,916 21,454 645,980 6,574 indebtedness Other b o n d s , s t o c k s , & s e c u r i t i e s 169,340 34,560 6,993 774,873 182,850 5,651 2,914 31,369 4,419 141,072 408,239 86,522 6,390 8,497 20,572 56,703 4,955 27,254 9,422 250,357 7,223 34,262 158,474 2,247,115 u. s . bonds u. s. V i c t o r y n o t e s u. s . T r e a s u r y n o t e s TJ. s. C e r t i f i c a t e s of T o t a l l o a n s and d i s c o u n t s and investments, including b i l l s JLUaitiUULUlvdU YVL - UJLL a. -wfl • V V 7 W* * ^ ' ^ ' ^ ^ * R e s e r v e b a l a n c e w i t h F . R . Bank 29,1% 714,213 7 2 , 7 9 6 1 0 6 , 9 7 8 35,JOS Cash -;n " a u l t 20,010 88,833 16,925 31,501 14,442 59,744 ,2)0,627 15,584,9)0 32,31* 192,021 38,063 18.129 >9,387 26,299 90,077 1,465,215 9,754 55,665 10,118 6,404 11,855 10,047 20,255 295,509 Met demand d e p o s i t s 834,651 4 , 9 7 5 , 4 2 6 706,817 878,127 3 ) 2 , 2 2 7 2 6 3 , 9 5 5 1 , 4 4 8 , 0 3 1 327,737 196,976 4 4 8 , 5 4 3 237,232 656,11) 11,305,835 Time d e p o s i t s 232,47s 771,082 56,131 5 1 3 , 7 3 8 146,700 1 5 5 , 1 0 3 67,091 557,567 3,593,373 33,355 124,4)7 28,686 14,571 11,007 10,438 29,284 22,117 6,331 6,681 3,891 11,26) 302,561 5,210 - 48,949 - 9,727 - 13,247 20 8,110 470 1,654 - 17,810 3,023 - 473 4,180 1,040 5,690 142 119,H3 632 35 5,671 844 152,983 Government d e p o s i t s B 1 s1e^2Tu All other W l s t h L t : ! S g . B i l l s r e d i s c o u n t a d w i t h F . R . Bank: !uTther y S ' G °"' ° bllg ' 16,68? 4i~03i 10,549 12,664 7 1 9 , 3 0 5 174,177 , 7Q 10,855 11.577 22,867 0 rr 7,903 8 2 , 4 8 3 117,515 1 2,523 1nn 6,071 £ 4,590 St.3120c. =ed 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 / , 1922; n o t e a r l i e r . IND IN OTHEB SELECTED CITIES PRINCIPAL HE30UP.es AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F . R. BANK AND BLANCH CITIES — Itanber of r e p o r t i n g "banks Loans and d i s c o u n t s , i n c l u d i n g 4 b i l l s r e a l s ' d w i t h F . 11. Bank: Se;vared by U. S. Govt, o b l i g . S e c u r e d b y stocics and b o n d 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 New York C i t y Oct. IS O c t . 11 64 64 74,443 90,545 1,546,052 1,449,648 1,976,340 1,973,706 3,612,937 3,497,797 480,667 532,072 C i t y of Chicago O c t . 11 Oct. 18 50 50 . A l l F.R. Bank c i t i e s O c t . 18 Oct. 11 266 266 F. R. Branch c i t i e s Oct. 18 Oct. 11 208 208 Other selected c i t i e s Oct. 18 O c t . 11 313 313 36,486 412,940 631,851 172,753 193 ,054 :2,79S,745 2 , 6 6 5 , 6 8 9 4,484,525 4,486,412 49,609 49,763 499,179 509,376 1,453,446 1,443,403 41,19s 40,971 448,074 453,679 1,321,083 1,312,356 1 , 1 1 0 , 3 6 5 1 ,081,277 7,476,324 7,324,854 2,012,535 1,992,191 1,815,960 1,801,401 36,597 445,421 628,347 339,864 11,182 311,019 294,359 277,405 10,152 5,090 4,369 11,439 13,704 3,562 5,230 23,333 775,768 26,142 383,145 386,132 55,373 49,001 523,723 513,546 72,265 75,625 49,992 47,472 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 30,330 35,428 16,891 18,188 84,203 92,510 41,827 35,091 15,042 17,081 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 553,577 535,500 173,453 172,133 1,212,482 1,211,104 613,611 622,324 416,022 421,848 1,417,050 1,331,511 134,230 131,339 10,191,631 9,943,924 1,076,256 1,054,841 U, S. bonds U. 3. V i c t o r y n o t e s u . S. T r e a s u r y n o t e s T o t a l 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. Bank R e s e r v e b a l a n c e with. F. R. Bank 5,153,503 66b, 74s 4,999,228 74,960 31,173 4,473,873 4,335,252 Time d e p o s i t s 542,31s Government d e p o s i t s Cash i n v a u l t Net demand d e p o s i t s B i l l s p a y a b l e w i t h F. R. Bank: S e c u r e d by U. S. Govt, o b l i g a t i o n s All 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: S e c u r e d by U. S. Govt, o b l i g a t i o n s 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 -gdth F. R. Bank t o t o t a l l o a n s and 655,436 57,396 55,624 371,566 31,449 28,973 156,084 161,454 3,096,334 3,049,402 221,928 225,712 61,118 60,437 2,596,965 2,569,576 163,603 163,247 73,607 73,491 1,631,537 1,631,989 990,449 1 , 0 1 2 , 5 6 9 7 , 8 5 6 , 6 7 9 7,802,222 1,817,319 1,522,500 542,231 342,627 325,383 1,760,327 1 , 7 5 0 , 5 9 3 1,065,020 1,060,618 768,026 768,441 111,879 31,863 16,364 7,766 228,410 73,286 38,105 18,255 36,046 8,883 41,630 93,555 9,855 4,509 73,349 116,610 31,533 142 23,448 147 14,231 490 15,513 545 33,353 28,667 5,515 239 96,717 366 73,969 493 31,123 •7 1.7 1.9 2.0 1.5 2.4 17,994 2.0 : 342 22,268 1.5 7 112 2 5,^.14s 1-5 115 24,420 1. 6
@FedFRASER