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STATEMENT FOR TEE PRESS Released f o r p u b l i c a t i o n M;mday morning* Oct • 4, 1920; n o t e a r l i e r « St ,1464F e d e r a l Reserve Board October 2 , 1 9 2 0 . CONDITION OF MEMBER BANKS IN LEADING CITIES A g g r e g a t e r e d u c t i o n s by 23 2 m i l l i o n s net t h e r e s u l t of payment of c u s t o m e r s 1 t a x c h e c k s , demand d e p o s i t s , largely accompanied by l i q u i d a t i o n i n some volume of U» S, T r e a s u r y c e r t i f i c a t e h o l d i n g s and s u b s t a n t i a l i n c r e a s e s i n o t h e r l o a n s and i n v e s t m e n t s a r e i n d i c a t e d i n t h e F e d e r a l R e s e r v e B o a r d ' s w e e k l y s t a t e m e n t o f c o n d i t i o n on September 24 of 818 member banks i n l e a d i n g c i t i e s • As a g a i n s t a d e c r e a s e of 6 . 1 m i l l i o n s i n U n i t e d S t a t e s bonds and a n o m i n a l i n c r e a s e i n V i c t o r y n o t e s h e l d , t h e r e p o r t i n g banks show a r e d u c t i o n of 3 2 • 5 m i l l i o n s i n t h e i r h o l d i n g s of T r e a s u r y c e r t i f i c a t e s , t h i s r e d u c t i o n c o n s t i t u t i n g a b o u t o n e - h a l f of the p r e v i o u s w e e k ' s i n c r e a s e f o l l o w i n g t h e i s s u a n c e * o f t h e l a t e s t two s e r i e s of t a x c e r t i f i c a t e s . For t h e New York C i t y members, r e d u c t i o n s of 3 m i l l i o n s i n U n i t e d S t a t e s bonds, of a b o u t 1 m i l l i o n i n V i c t o r y n o t e s and of 1 7 . 1 m i l l i o n s i n T r e a s u r y c e r t i f i c a t e s a r e shown« Loans s u p p o r t e d by Government war s e c u r i t i e s d e c l i n e d by 5 . 6 m i l l i o n s , w h i l e l o a n s s u p p o r t e d by 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 f o r t h e week of 15<9 m i l l i o n s ( l ? *5 m i l l i o n s i n New York C i t y ) . A l l o t h e r l o a n s and i n v e s t m e n t s , c o m p r i s i n g l a r g e l y commercial l o a n s and d i s c o u n t s , went up by 110-2 m i l l i o n s , of which 12,7 m i l l i o n s r e p r e s e n t s t h e i n c r e a s e f o r t h e New York C i t y members. T o t a l l o a n s and i n v e s t m e n t s , i n con- sequence of t h e above changes i n the p r i n c i p a l a s s e t s 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 S2-9 m i l l i o n s , t h e c o r r e s p o n d i n g i n c r e a s e f o r t h e New York C i t y banks b e i n g 1 1 . 1 m i l l i o n s . During t h e week t h e r e p o r t i n g i n s t i t u t i o n s i n c r e a s e d t h e i r b o r r o w i n g s from the F e d e r a l R e s e r v e Banks by 1 7 5 m i l l i o n s from 1 , 9 7 2 . 1 t o 2,150«9 m i l l i o n s . For t h e New York C i t y members an i n c r e a s e i n t h e b o r r o w i n g s from t h e l o c a l F e d e r a l R e s e r v e Bank by 7 6 . 9 m i l l i o n s from 6 7 2 - 1 t o 749 m i l l i o n s i s shown• The 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 m e n t s of a l l r e p o r t i n g banks shows an i n c r e a s e from 11.6 t o 1 2 . 5 p e r c e n t , w h i l e / N e w York C i t y banks an i n c r e a s e i n t h i s r a t i o from 1 1 , 7 t o over 13 - p e r c e n t i s n o t e d . Government d e p o s i t s show a r e d u c t i o n f o r t h e week of a b o u t l6 m i l l i o n s , other dan and d e p o s i t s , a s s t a t e d above, d e c l i n e d by a b o u t 232 m i l l i o n s , w h i l e time d e p o s i t s show a g a i n of 6 , 1 m i l l i o n s . 1 0 . 4 m i l l i o n s i n Government d e p o s i t s , For t h e New York C i t y members d e c r e a s e s of 1 0 0 . 9 m i l l i o n s i n o t h e r demand d e p o s i t s and 6.7 m i l l i o n s i n time d e p o s i t s a r e g i v e n . institutions, R e s e r v e b a l a n c e s of a l l r e p o r t i n g i n accord w i t h t h e l a r g e r e d u c t i o n i n t h e i r demand d e p o s i t s , show a d e c l i n e of 28 .3 m i l l i o n s , w h i l e c a s h i n v a u l t f e l l o f f by 11 -3 m i l l i o n s * In New York C i t y c o r r e s p o n d i n g d e c r e a s e s of 1 1 . 5 m i l l i o n s i n r e s e r v e b a l a n c e s and of 3 »2 m i l l i o n s i n c a s h on hand may be n o t e d . R e l e a s e d f o r p u b l i c a t i o n Monday m o r n i n g , October 4, 1920; n o t e a r l i e r PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING IffiMBER BAMS IN LEADING CITIES ^ (Amotmts i n t h o u s a n d s of d o l l a r s ) S e p t . 24,1920 s<$pt. 17, 1920 818 Nunber of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - - - SIS U. S . bonds t o s e c u r e c i r c u l a t i o n - - - - - - - - - - - - - - - - - - - - - - St.l464a Mar- 26,1920 Sept. 26,1919 811 776 269,061 270,036 268,492 269,706 - - - 603, 9^9 609,117 592,093 619,968 - - — - 191,327 190,976 199,808 302,930 __ 383,420 415.860 487.643 1,050,339. 1,447,757 1,485,989 1,548,036 2,242,943 Loans and i n v e s t m e 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 - R . Bank: Loans s e c u r e d by U. S. war o b l i g a t i o n s - - - - - - - - - - - - - - Loans s e c u r e d try 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 i n v e s t m e n t s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 950,44o 3,055,216 11.687.184 955,960 3,039,347 11.576.429 I,169,820 3,193,212 11.093.121 (a) 1,333,697 3,053,110 (a) 8.667.708 T o t a l l o a n s and i n v e s t m e 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.R.Bank - - - 17,l4o,597 17,057,725 17,004,189 15,677,228 R e s e r v e b a l a n c e w i t h F . B. Bank _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 1,361,800 1,390,096 1,413,918 1,332,919 358,385 369,711 359,854 349,780 11,160,537 11,392,248 II,^93,317 10,839,154 2,786,811 2,780,662 2,584,959 1,99^,216 _ _ _ _ _ _ _ _ _ 315,364 331,376 5U, 176 692,335 - - _ _ _ _ _ _ _ _ 677,935 6 , 873 669,499 877,580) 8,448) 267,929 324,543) 379,770 903,702) ( a ) E x c l u s i v e of . ..rediscounts with 14.4 F.R. Banks. Other U. S. bonds i n c l u d i n g L i b e r t y bonds - - - - — - - - - - - - U. S . V i c t o 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 T o t a l U, S . s e c u r i t i e s - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ — - - 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 w 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 - war o b l i g a t i o n s All other B i l l s r a d i s c o r h t e d w 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 . war o b l i g a t i o n s - - - - - - All other - - - - - - - - R a t i o of U-S.war s e c u r i t i e s and war l o a n p a p e r to t o t a l l o a n s and i n v e s t ment s , i n c l u d i n g r e d i s c o u n t s w i t h F . R . B a n k , p e r c e n t - - 271,330 1,194,772 12.4 4,023 1,030,704 12.7 1,096,072 ^ P R I N C I P A L SsOURC^^D'LIABILITY ITEMS " " ' • fBoston F e d e r a l Reserve D i s t r i c t 42 Pumber r e p o r t i n g b a n k s ';U. S. bonds to s e c u r e 12,459 , circulation 6 t h e r U„ S . bonds i n c l u d i n g * * L i b e r t y bonds 17,785 ¥ . S . V i c t o r y motes 5,7H TJ„ S. C e r t i f i c a t e s of 20.363 indebtedness 56,318 T o t a l U. S . s e c u r i t i e s OF ALL REPORTING- MEMBER BAISCS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS SEPTiBMBER 24, 1920 '« -sands of d o l l a r " ' 1 Total t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . New York P h i l a . C l e v e l . Richm. 212 62 ^ 51 83 34 4y 106 22 35 92 113 ' 59 46,492 11,347 42,243 28,709 250,477 21,119 29,064 9,030 60,ISO 19,634 33,610 7,231 200,9 37 579,025 19,226 62,727 20,264 142,321 2,417 77,967 14,225 28,077 4,625 21,550 16,923 7,371 15,471 19,573 32,638( 269,06l 52,083 39,021 13,1+63 24,710 2,569 9,605 1,032 5,151 21,113 3,332 63,782 12,272 603,949 191,327 3,230 36,235 2,060 20,062 10,421 55,753 4.236 42,254 25,463 134,755 323,420 1,447,757 Loans and i n v e s t m e n t s i n c l u d ing b i l l s rediscounted with , • > Loans s e c t b y U.S.war o b l i g . 42,716 464,352 22,201 74,79% Loans sec.Dy s t o c k s & bonds 127,199 1 , 2 2 4 , 4 3 1 214,602 323,754 All other loans&investments 221.293 4 , l 4 q . 4 l 2 595,033 9o5,249 Total loans & investments including rediscounts w i t h F . R. Bank 1 , 1 1 4 , 1 2 6 6 , 4 7 7 , 2 2 6 961,163 1 , 5 0 b , 1 1 5 3 1 , 1 9 5 32,387 9 7 , 4 5 7 31,079 1 6 , 0 * 5 2 ? , 4 6 l 1 0 , 7 3 5 102,239 62,140 4 4 6 , 0 5 4 127,106 30, 941 20,40o 4 1 , 5 2 1 405,727 429.437 1 . 2 2 5 , 4 5 2 407,023 2 2 6 , 2 0 ) 544,0^0 2 o 3 , 2 0 4 623,728 520,072 2 , 5 4 0 , 5 8 9 602,043 353,827 707,640 3 6 4 , 9 1 4 1,309,142 1 7 , 1 4 0 , 5 9 7 42,722 23,4oi 20,019 1,361,200 8,911 1 4 , 2 4 3 11,429 22,233 Reserve b a l a n c e w i t h F.R.Bank 21,511 651,105 69,247 101,074 35,274 29,909 127,113 40,965 Cash i n v a u l t 24,582 114,726 17,445 32,236 16,126 13,722 65,817 9,641 206,492 5 , 0 1 0 , 9 7 7 690,209 "922,21b 338,251 252,455 1 , 3 6 3 , 5 9 0 307,995 1 8 6 , 9 7 1 412,462 224,373 154,465 462,562 32,895 376,942 107,741 151,31s 17,441 194,512 20,159 22,426 3,556 1,790 19,597 6,857 2,231 27,780 318,690 - 50,622 17 , 4 l 6 36 33,271 so 7 33,737 55 93,982 19,338 4,779 400 143,221 344,944 42,694 27,652 12,496 39,618 3,727 44,345 10,754 74,010 17,105 8,542 1,773 . Net demand d e p o s i t s Time d e p o s i t s # Government deposits B i l l s p a y a b l e w i t h F.R.Bank: Sec^hy U.S.war 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 a c J r y UjS.v;ar o b l i g a t i o n s 17,198 fcrii'i other 56,852 33,445 950,440 ^,623 3,055,21o 995,32n 1 1 , 6 2 7 , 1 2 4 629,214 126,016 4,965 290,829 75,750 19,394 358,383 631,340 1 1 , 1 6 0 , 5 3 7 63,996 97,457 55,021 517,184 2,726,211 5,267 1,214 13,n4 315,364 22,621 85 677,935 6,273 3,203 271,330 30',104 12,935 525 7,425 61,222 74,110 1 2,466 26,266 79,102 1 , 1 9 ^ , 7 7 2 R e l e a s e d f o r -cub'lication Monday morning, October 4, 1920; n o t e a r l i e r . St - 14o4c . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING- MEMBER BANKS IN F . R. BANK AND BRANCH CITIES AND ALL OTHER REPORTING.BANKS'. (Amounts i n t h o u s a n d s of d o l l a r s ) ; A l l F- R . F . R. All other New York C i t y C i t y of Chicago Bank c i t i e s Branch c i t i e s r e p o r t i n g "banks S e p t . 24 S e p t . 17 S e p t . 24 S e p t . 17 S e p t . 24 S e p t . 17 S e p t . 24 S e p t . 17 S e p t . 24 S e p t . 17 Number of r e p o r t i n g banks 71 71 ^9 %9 282 281 208 208 328 329 U.S. bends to secure c i r c u l a t i o n 36,795 Other U.S.bonds, including Liberty bonds 217,471 u . s . Victory notes 71,738 U. S. C e r t i f i c a t e s of indebtedness 185.705 Total u . s . s e c u r i t i e s 511,709 36,763 220,495 72,695 202.780 532,733 Loans and ii;vu s t e n t s i n c l u d i n g M i l s r e d i g e c u n t e d w i t h F . R* Bank: Loans s e c u r e d by U.S- war o b l i g a t i o n s 434,912 433,026 Loans s e c u r e d by s t o c k s and bonds 1,131,898 1,114,385 3.670,328 3.653.105 A l l o t h e r l o a n s and i n v e s t m e n t s T o t a l l o a n s and i n v e s t m e n t s i n c l u d i n g r e d i s c o u n t s w i t h F-R.Bank 5,749,347 5,738,249 1,438 l6,880 10,962 17.130 46,4io 1,432 17,691 10,830 18.645 4g,6o4 96,732 336,858 101,925 255.437 7 50,952 97,201 339,967 102,101 221.212 820,481 72,177 147,323 52,502 77.654 349,661 72,169 150,212 52,136 82.467 356,984 100,152 119,7b3 36,900 50.329 307,144 100,666 113,933 36,739 52.181 308,524 143,026 141,455 714,911 710,902 487,710 486,992 2,157 , 539 2,137,939 7,513.741 7.451.690 2.290.740 2.2SG.2C8 98,083 98,023 4i4,4i6 409,917 1.882.703 1.858.451 1,536,940 1,520,888 11,173,184 11,125,021 3,269,566 3,253,290 2,697,847 2,679,414 65,867 65,197 330,914 332,558 1.093.749 1.074.529 Reserve b a l a n c e w i t h F , R . Bank 614,380 625,876 134,809 134,143 1,014,889 1,022,238 200,023 203,452 146,888 l64,4o6 Cash i n v a u l t 101,735 105,000 37,715 37,077 204,801 209,494 71,239 75,583 82,343 84,634 4,528,310 4,629,231 930,933 94s, 224 7,813,064 7,970,350 1,751,617 1,730,618 Net demand d e p o s i t s 1,595,856 1,641,280 Time deposi t s 333,621 34O,4OS 285, 883 286,812 1,283,164 1,282,495 906,185 902,779 597,462 595,333 Government d e p o s i t s 189,452 199,942 9,330 10,384 261,293 276,23 s 36,381 34,650 17,690 20,488 B i l l s p a y a b l e w i t h F- R. Bank: Secured by U . S . war o b l i g a t i o n s All other 237,530 289,453 26,379 4,965 26,313 2,300 442,212 5,465 436,810 2,300 145,748 165 143,683 175 39,975 1,243 89,006 1,548 139,135 322,362 136,438 246,186 10,260 215,191 9,889 193,79s 225,521 864,220 222,l4l 739,346 33,092 175,167 33,793 148,184 12,717 155,385 11,99? 143,174 16.2 7-2 7.4 12.6 13.2 11-3 11.4 B i l l s r e d i s c o u n t e d w i t h F . R . Bank: Secured by U . S . war o b l i g a t i o n s All other R a t i o of U. S. war s e c u r i t i e s and war loan p a p e r t o t o t a l l o a n s and i n v e s t m e n t s , i n ^eluding r e d i s c o u n t s w i t h F - R . B k , p e r c e n t 15.8 12.9 12.8
@FedFRASER