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STATEMENT FOR THE PRESS st. 5901 F e d e r a l Reserve Board, September 10, 1928. For immediate r e l e a s e CONDITION OF MEMBER B A M S IN LEADING CITIES Hie F e d e r a l Reserve B o a r d ' s c o n d i t i o n statement of 635 r e p o r t i n g member panics i n l o a d i n g c i t i e s a s of September 5 shows i n c r e a s e s f o r the week of $118,000,000 i n l o a n s and d i s c o u n t s , of $157,000,000 i n d e p o s i t s , and of $53,000,000 i n "borrowings from Federal r e s e r v e "banks. Loans on s t o c k s and "bonds, i n c l u d i n g U. S. Government o b l i g a t i o n s , wore $110,000,000 abovo the August 29 t o t a l a t a l l r e p o r t i n g "banks,/increase of $122,000,000 i n the New York d i s t r i c t "being p a r t l y o f f s e t "by d e c r e a s e s of $11,000,000 i n the Cleveland d i s t r i c t and $4,000,000 each i n the A t l a n t a 4nd Kansas City d i s t r i c t s . "All o t h e r " l o a n s and d i s c o u n t s d e c r e a s e d $14,000,000 i n the New York d i s t r i c t , $7,000,000 i n the Chicago d i s t r i c t , and $6,000,000 i n the Boston d i s t r i c t and i n c r e a s e d $9,000,000 each i n the Cleveland and San F r a n Cisco d i s t r i c t s , $7,000,000 i n the St. Louis d i s t r i c t , and $8,000,000 a t a l l r e p o r t i n g "banks. Holdings of U. S. Government s e c u r i t i e s i n c r e a s e d $23,000,000 i n the New York d i s t r i c t and $17,000,000 at a l l r e p o r t i n g "banks. Holdings of other "bonds, stocks and s e c u r i t i e s d e c l i n e d $15,000,000 i n the New York d i s t r i c t , $8,000,000 i n the Cleveland d i s t r i c t , and $17,000,000 at a l l r e p o r t i n g "banks. 'let demand d e p o s i t s were $193,000,000 above the amount r e p o r t e d a week ago, t h e p r i n c i p a l i n c r e a s e s "by d i s t r i c t s "being: Now York $88,000,000, Chicago $47,000,000, P h i l a d e l p h i a $11,000,000, and Boston and Cleveland $10,000,000 each. A d e c l i n e of $16,000,000 i n time d e p o s i t s i n the Cleveland d i s t r i c t was l a r g e l y o f f s e t by an i n c r e a s e of $9,000,000 i n the New York d i s t r i c t , a l l r e p o r t i n g "banks showing a d e c l i n e of $12,000,000 f o r the week. A l l d i s t r i c t s p a r t i c i p a t e d i n the r e d u c t i o n of $24,000,000 i n Government d e p o s i t s . The p r i n c i p a l changes i n "borrowings from the F e d e r a l r e s e r v e banks were i n c r e a s e s of $68,000,000 a t r e p o r t i n g banks i n the Now York d i s t r i c t and $16,000,000 i n the San F r a n c i s c o d i s t r i c t , and d e c r e a s e s of $26,000,000 i n t h e Chicago d i s t r i c t and $5,000,000 each i n t h e Cleveland and Kansas C i t y d i s t r i c t s . A summary of 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 635 r e p o r t i n g member banks, t o g e t h e r with changes during the week and the year ending September 5, follows: ( i n thousands of d o l l a r s ) I n c r e a s e or decrease d u r i n g Sept. 5 Year Week 1928 Loans and i n v e s t m e n t s - t o t a l 22,252,106 + 117,642 Loans and d i s c o u n t s - t o t a l 15,846,885 4- 117,672 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 / A l l o t h e r l o a n s and d i s c o u n t s 127,815 6,530,087 9,088,983 + + 2,66s 107,162 Investments - t o t a l 6,405,221 U. S. Government s e c u r i t i e s 2,925,212 Other bonds, s t o c k s and s e c u r i t i e s 3*480,009 Reserve with 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 Due from banks Due t o banks Borrowings from F. R. banks—total Secured by U.S.Govt, o b l i g a t i o n s All other + + - 7,848 36 + 17,012 + 17,O4S + 4- 5,410 1,735 13,063,728 + 192,743 94,254 - + + + 1,666,194 248,682 6,399,999 + 1,529,862 + 1,094,693 — - W* 6,861 618,355 469,477 435,169 437,307 2,13s 38,151 21,288 293,026 572,638 85,764 12,286 23,612 125,070 + 155,121 - 30,314 303,340 + 1,132,842 3,119,442 + + 826,897 + 52,531 + 531,5^3 539,357 287,O4O + 60,351 7,820 + + 354,270 177,273 - - _ For i-nag&diato r e l e a s e " ' .. - F e d e r a l Ho servo Board September 6, 1928. CCHDIHOILQE;. V E E S L Y ZEPOZHHGIII C31TTR\L H3S:DRVE CITIES ( I n thousands of d o l l a r s ) ~-K2W YORK- 45 BAIIES Loans and i n v e s t m e n t s - t o t p i Sept. 5 J5.25 7,260,911 Aug, 29 1928 7>133.313 Sept. 7 1927 6,633.96? Loans and d i s c o u n t s - t o t a l 5.%S.4gg 5,£7^,559 4,835.020 43,736 2,502,291 2,835,461 ^5»7°6 2,333,390 2,845,373 36,606 2,233.015 2,565.339 1,874,425 1,863,754 1,793.947 1,025,049 1,001,914 Sbl,S4o 378,643 920,304 625,552 53,429 690,825 52,377 72b,734 59.255 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 5,109,733 1,171,794 15,700 5,032,980 1.151,97-7 19,631 5,209,l6l 1,003,120 886 Dae from banks Dae t o banks 86,074 1,135.353 77.695 1,080,871 83,967 1,174,269 2b0.205 197.324 132,096 187,870 72,335 115.645 82,179 86,450 45,646 and d e a l e r s ( s e c u r e d by stocks own account 906,779 account of o u t - o f - t o w n banks 1,521,723 account of o t h e r s 1,8o0 , 707 79 2,766 1,535.163 1,907,219 1,046,074 1,238,325 921.900 Total 4,289,209 4,235.1^ 3.206,299 3,4.81,827 807,322 3.417.933 817.210 2,402,020 804,279 CHICAGO- 43 BAMS 4 Loans and investments - t o t a l 2,035,532 2,051,421 1,95^.649 Loans and d i s c o u n t s - t o t a l 1,564,447 1.579.513 1,499,249 13.250 784,177 767,020 14,352 736,11b 779.050 lb,191 SOI,331 681,677 Investments - t o t a l 471,085 471,903 455.400 U. S. Other Reserve Cash i n 209,513 261,567 180,930 16,853 216,022 255.381 174,519 15.970 19b,565 258,835 131,176 20,182 1,244,682 577,547 7,932 160,35'3 340,642 1,222,552 680,421 9.913 1 42,739 336,870 1,311.125 6l5,4lit597 143,203 335.930 4-1.924 71,165 2,485 34,685 7,239 59.969 11,196 1.955 530 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 A l l o t h e r l o a n s and d i s c o u n t s Investments - t o t a l U. S. Government s e c u r i t i e s Other bonds, stocks and s e c u r i t i e s 849,376 Reserve with F. R. Bank Cash i n vault Borrowings from F. R. banlc - t o t a l Secured by U.S. Government o b l i g a t i o n s M l other Loans to b r o k e r s and bonds): For For For On demand On time 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 All o t h e r l o a n s and d i s c o u n t s Government s e c u r i t i e s bonds, stocks and s e c u r i t i e s with F. R. Bank vault ' Set 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 Dao from banks Dae to banks Borrowings from F. R. bank - t o t a l Secured by U.S.Government o b l i g a t i o n s All o t h e r C. • ( S t . 5901a) For immediate r e l e a s e St. 5901b PRINCIPAL EE SOURCES AMD LIABILITIES OF ILL REPORTING MEMBER BANKS IN EACH - FEDERAL RESERW DISTRICT AS AT CLOSE OF BUSINESS, SEPTEMBER 5,1928. —— — ( i n thousands of dollars') Federal Reserve D i s t r i c t Total Boston New York Phila.' Cleve. Rich. A t l a n t a Chicago S t . Louis Minn. Eans.Cy. D a l l a s San F r a n . L o a n s and i n v e s t m e n t s ^ t o t a l 2 2 , 2 5 2 , 1 0 6 1 , 5 0 5 , 8 4 6 S . 4 7 1 , 0 9 0 1 , 2 4 9 , 9 2 2 2 , 1 9 3 , 4 2 2 6 7 8 , 8 5 2 63S,U-13 3 , 2 7 9 , 4 2 6 7 2 4 , 5 8 7 3 7 2 , 3 7 7 6 8 0 , 8 6 4 455,784 2,001,463 Loans and d i s c o u n t s - t o t a l Secured by US Govt, o b l i g . Secured by s t o c k s & bonds All o t h e r l o a n s & di s e t s Investments - t o t a l U.S.Govt. s e c u r i t i e s Other "bonds, s t k s . & s e c u r . Reserve - j i t h ? . R. Bank Cash i n v a u l t Not 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 Du.c from "banks Duo to banks 849.119 1,465,476 521,062 9,088,983 11,585 50,002 378,12b 2,903,215 063,026 3 , 2 1 0 , 3 3 3 8,393 465,916 374,810 654,500 797,983 4,254 19,245 4,322 129,903 1,052,701 214,052 334,064 369,905 1,331,493 297,874 6,405,221 4 4 8 , 1 0 9 2,306,940 K)0,803 728,006 157,790 1 34,351 2,925,212 166,981 1,117,923 121,008 15,846,885 1,057,737 6,164,150 ^ 127,815 0,630,087 3,480,009 1,666,194 248,682 13,063,728 281,128 1,189,017 100,815 19,O4I 747,962 67,691 395,592 5,679,316 279,795 77,539 13,574 2,374 3,564 2,339 73,042 125,4II 85,509 1 6 4 , 3 7 8 308,962 2 4 8 , 6 6 6 4,983 363,875 982,489 8 7 5 , 9 8 7 2 0 8 , 3 3 9 1 3 2 , 5 8 3 242.927 1 1 9 , 2 7 0 650,116 321,820 7 0 , 3 2 3 61,914 406,156 87,467 7 2 , 4 3 7 371,099 72,957 504,888 135,382 72,719 129,653 41,922 28,403 12,471 255,07s 45,275 42,036 7,27s 23,898 37,639 9,850 94,254 1,132,842 3,119,442 49,510 120,465 139,785 1,193,766 56,521 166,332 33,871 302,079 Secured "by US Govt o b l i g . All other - 539,857 28'7,040 17,590 226,086 16,281 75,993 16,521 635 36 78 49 3,161 183,837 7 1 7 , 9 5 ^ 1,044,424 353,564 313,654 1,859,267 377,781 301,450 961,001 246,232 236,321 1,256,194 240,938 11,521 . 10,872 2 , 9 3 9 5,530 13,177 2,086 826,897 c. 516,248 239,794 437,937 336,514 1,351,347 487,924 1,714,686 18,832 18,134 6,899,999 B o r r o w i n g s f r o m FR B l c - t o t a l Number of r e p o r t i n g "banks 12,993 504,O62 2 , 4 0 3 , 4 3 9 9 3 , 9 7 9 46,422 71,978 224,811 97,851 94,052 30,644 116,225 126,702 80,778 38,492 351,465 56,891 32,533 9,124 116,989 21,960 214,164 499,435 291,179 130,184 177,782 128,358 1,284 2,207 3,121 816,898 1,018,929 59,864 6,082 254,591 61,755 49,663 490,396 96,991 8 4 , 9 7 4 74,089 59,S60 49,712 86,984 46,738 13,075 57,568 32,038 11,34s 13,603 63,415 27,822 19,296 36,109 23,569 19,035 27,703 7,535 5,5^0 70 64 31 92 29 24 11,172 298,651 4,551 121,956 230,327 60,651 15,074 19,833' 94,933 8,700 11,238 98,542 145,351 201,615 6,374 8,595 71,701 23,237 64 44 54
@FedFRASER