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% ' f I ^ ' ^ I ' y STATEMENT TOR THE PRESS 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 , September 20; n o t e a r l i e r , I ' •" S t , 1422 F e d e r a l R e s e r v e Board, September 1 8 , 1 9 2 0 . ' 1 w 11 '* CONDITION OF MMBER BAMS IN LEADING CITIES L i q u i d a t i o n of 71*7 m i l l i o n s of T r e a s u r y c e r t i f i c a t e s , of w h i c h 45 m i l l i o n s repr e s e n t s t h e amount s o l d t o F e d e r a l R e s e r v e Banks, a s a g a i n s t a f u r t h e r s u b s t a n t i a l i n c r e a s e i n t h e volume of commercial l o a n s and d i s c o u n t s i s 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 showing c o n d i t i o n on September 10 Of 818 member banks i n l e a d i n g c i t i e s . U n i t e d s t a t e s bbnd h o l d i n g s show an i n c r e a s e f o r t h e week of a b o u t 6 m i l l i o n s , w h i l e t h o s e of V i c t o r y n o t e s d e c r e a s e d by 3«7 m i l l i o n s . - T h e s e c h a n g e s , i n combinat i o n w i t h t h e l i q u i d a t i o n of 71*7 m i l l i o n s of T r e a s u r y c e r t i f i c a t e s above m e n t i o n e d , account f o r a r e d a c t i o n of 6 9 . 3 m i l l i o n s i n t o t a l U n i t e d S t a t e s s e c u r i t y h o l d i n g s . For t h e member b a n k s i n New York C i t y c o r r e s p o n d i n g r e d u c t i o n s of 67*6 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 n d of 6 6 . 1 m i l l i o n s i n t o t a l U« S , s e c u r i t i e s a r e shown. Loans s u p p o r t e d by Government o b l i g a t i o n s and by c o r p o r a t e s e c u r i t i e s show b u t 6 l i a h t i n c r e a s e s , w h i l e o t n e r 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 commercial l o a n s and d i s counts^ show i n c r e a s e s of a b o u t 60 m i l l i o n s f o r a l l r e p o r t i n g b a n k s a n d of 33 >5 m i l l i o n s f o r t h e New York C i t y members, In consequence of t h e above c h a n g e s i n t h e s e v - e r a l e a r n i n g a s s e t s , t o t a l l o a n s a n d i n v e s t m e n t s show a d e c l i n e of 4 , 5 m i l l i o n s . For the New York C i t y b a n k s a c o n s i d e r a b l y l a r g e r d e c l i n e of 2 9 . 3 m i l l i o n s i s n o t e d . A c c o m o d a t i o n of a l l r e p o r t i n g b a n k s a t t h e F e d e r a l R e s e r v e B a n k s , a s shown on t h e books of t h e l a t t e r , shows a r e d u c t i o n by 5 9 , 7 m i l l i o n s f r o m 2 , 2 0 1 , 9 t o 2*,142,2 m i l l i o n s , and c o n s t i t u t e d 1 2 . 7 p e r c e n t of t h e b a n k s ' t o t a l l o a n s a n d i n v e s t m e n t s on September 10, a s a g a i n s t s l i g h t l y over 13 p e r c e n t on t h e p r e c e d i n g F r i d a y « For t h e New York C i t y b a n k s a r e d u c t i o n u n d e r t h i s h e a d f r o m 8 6 5 , 7 t o 8 2 6 , 6 m i l l i o n s i s n o t e d , r e s u l t i n g i n a d e c l i n e of t h e r a t i o of accommodation a t t h e F e d e r a l R e s e r v e Bank from 15,3 to 14,7 per cent* As a g a i n s t a f u r t h e r d e c r e a s e of 31*7 m i l l i o n s i n Government d e p o s i t s and a 3*4 m i l l i o n i n c r e a s e i n t i m e d e p o s i t s , an i n c r e a s e of 1 1 8 . 3 m i l l i o n s i n o t h e r demand dep o s i t s - p a r t l y i n a n t i c i p a t i o n of p a y m e n t s of income a n d e x c e s s p r o f i t s t a x e s - i s shown. I n t h e c a s e of t h e New York C i t y b a n k s a r e d u c t i o n of 1 3 . 8 m i l l i o n s i n gov- ernment d e p o s i t s i s accompanied by an i n c r e a s e of 3 2 , 1 m i l l i o n s i n o t h e r demand deposits, R e s e r v e b a l a n c e s , n o t w i t h s t a n d i n g 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 demand de- posits, show a r e d u c t i o n of 5 . 5 m i l l i o n s , w h i l e c a s h i n v a u l t , l a r g e l y F e d e r a l Re- s e r v e n o t e s , went u p by 2 5 , 6 m i l l i o n s , m a t e r i a l g a i n s i n c a s h b e i n g shown f o r t h e Digitized for b aFRASER nks l o c a t e d i n F e d e r a l Reserve p o i n t s as well a s by the c o u n t r y b a n k s . ^ l o r — p u b l i c a t i o n Tflonday m o r n i n g , September 20, 1920; n o t e a r l i e r . PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING TtRCBER BANKS IN LEADING CITIES ——— — (Amounts i n t h o u s a n d s o f d o l l a r s ) Number o f r e p o r t i n g banks - _ ~ S e p t . 10,1920 818 S e p t . 3 , 1920 0I9 U. S . Bonds t o s e c u r e c i r c u l a t i o n 269,597 2 6 g , 906 O t h e r U- S. bonds i n c l u d i n g L i b e r t y bonds ' c_n C n \, b09,4S7 U. S . V i c t o r y n o t e s 189,117 U. S . C e r t i f i c a t e s o f i n d e b t e d n e s s . 350.354 T o t a l U. S. s e c u r i t i e s St.l428a. Mar. 12,1920 774 267,994 269,551 604,105 592,494 632,065 192,773 2O4,C54 312,628 422.050 631.010 1. H I - 850 1,487,839 1,695,562 2,326,094 . ~ 1,418,525 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 Loans s e c u r e d by U- S. war o b l i g a t i o n s * Bank, ' _ qeQ nnii nE_ 1,193,926 ! ' „ h e : „ t h f " „ u - 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 b i l l s r e d i s c o u n t e d w i t h F.H.Bank " R e s e r v e b a l a n c e 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 : : 3 - 1 > 7 11,495,531 11.u3s.495 16,93,1(67 16,927,978 , 3,184,987 (a) 1,309,370 3,012,523 10,986,256 (a) 8,497,269 17,060,731 15, 4 5 7 , 7 0 5 1,3S9,U78 1,394,957 1,436,601 1,383,481 375 > 0 gU 349,505 368,749 368,649 11,370,590 11,252,334 11,732,057 11,220,961 2,771,202 2,767,782 2,565,076 1,928,472 30,054 61,755 39,175 505,296 756,Uto 786,554 „ * Government d e p o s i t s S e p t . 12,1919 . 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 • ' T 2,056 946 944,551) 2,928) 1,037,148 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: I i n t t e r y - " : -S" T p ... • / ° t U s a t l c n s 4 a t i o of U.S.war s e c u r i t i e s and w a r 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 me ;ts , 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, p e r c e n t - 269,204 262,233 1,114,544 1,152,180 12.5 12.9 333,445) ^ 825,330)(a)Exclusiveof red i s c o u n t s w i t h F- R . 15 . 4 BARII-S . P l e a s e d f o r p u b l i c a t i o n on Monday morning, September 20; n o t e a r l i e r . -'tPRINCIPAL RESOURCE AMD LIABILITY IT®,IS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSIM.SS SEPTEMBER 10, 1920 (Amounts i n t h o u s a n d s of d o l l a r s ) ; Total Federal Reserve D i s t r i c t 68 818 83 51 82 106 113 4? 47 ^5 92 35 ' Number r e p o r t i n g b a n k s 59 U« S . "bonds t o s e c u r e 32^635 269,597 7 , 3 7 1 1 5 , 4 7 1 19^573 21,549 16,923 46,525 11,347 42,235 12,354 29,329 1 4 , 2 8 5 - circulation "Other U. S. bonds i n c l u d i n g v 64,682 609,427 60,448 9 , 8 7 6 2 5 , 1 8 2 22,085 5 3 , 0 4 5 13,299 15,981 254,059 29,205 3 2 , 7 9 8 28,767 L i b e r t y bonds 11,916 189,117 3,100 5,208 1,036 2,686 7,184 38,409 6,202 8,960 4,317 81,390 18,709 Ui 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 5,6o4 26,419 8.415 350,384 3.054 5.615 65.020 147.887 21.644 12,059 1 1 . 1 1 1 18.319 25.237 indebtedness 1,418,525 5 0 , 3 b 2 1 3 5 , 6 5 2 5 4 , 2 7 6 21,337 58,480 178,023 38,523 146,629 81,370 529,861 71,156 5 2 , 8 5 6 Total U. S. s e c u r i t i e s 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 r e d i s c o u n t e d w i t h % F . R . Bank: 46,048 471,824 85,571 74,963 - Loans s e c . b y U.S.war o b l i g . 185,670 1,262,263 205,311 320,403 •w Loans s e c .by s t o c k s & bonds 961.321 800.989 4 . 0 9 3 . 7 1 9 594.749 , A l l o t h e r 1 oans&inve s t m e n t s . Total loans & investments including rediscounts 1 , 0 8 5 , 5 6 3 6 , 3 5 7 , 6 6 7 956,787 1 , 5 0 3 , 3 1 6 w i t h F , R. Bank 31,963 106,583 31,821 61,316 98,420 31,790 16,279 32,808 26,569 81,157 10,721 42,057 404.823 4 1 7 . 1 4 2 1 . 7 6 2 . 4 1 7 417.187 291.304 5 1 4 . 8 0 6 258.708 472,321 126,393 959,004 33,035 151,125 3,047,407 981.366 1 1 . 4 9 8 . 5 3 1 624,739 568,759 2 , 5 1 1 , 1 8 1 613,893 361,728 676,808 3 6 1 , 8 4 8 1 , 3 0 1 , 1 7 8 1 6 , 9 2 3 , 4 6 7 R e s e r v e b a l a n c e w i t h F.R .Bank 80,931 661,683 72,315 104,220 38,379 30,034 187,213 41,527 23,828 46,046 24,246 79,056 1,389,478 Cash i n v a u l t 25,785 121,219 18,249 31,896 17,219 14,216 69,544 9,580 9,325 15,237 11,964 30,860 375,094 $ g t demand d e p o s i t s 8 2 0 , 3 1 2 5 , 0 2 7 , 5 3 8 696,909 938,051 "Time d e p o s i t s .144,634 465,155 38,952 3,073 13,471 1,880 2,804 949 803 3,315 27,171 372,673 56,043 32,496 36 35,049 33,605 10 16,866 142,861 372,540 44,332 34,269 11,204 39,494 "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 . R. Bank; S e c . b y U.S.war o b l i g a t i o n s All other ink: S e c . b y U.S.war o b l i g a t i o n s ATI o t h e r 48,732 3 5 4 , 2 7 2 269,249 1,423,836 325,285 211,344 425,300 224,443 375,510 ' 1 0 7 , 3 9 1 150,849 825 3,894 36,589 9,646 61,291 630,279 125,566 654,051 1 1 , 3 7 0 , 5 9 0 63,980 97,441 54,751 516,700 2,771,208 759 175 954 375 1,496 30,054 96,350 21,716 6,336 450 27,285 19,701 500 28,023 756,448 18,650 8,403 75,289 2,777 269,204 1,114,544 233,106 2,122 57,624 150 6,370 60,982 2,079 26,434 85 68,194 2,056 •C^i PASPti. f o r u u b l i c a t i o n Monday r a o r r i n g , September 20, 1920; n o t e a r l i e r S t . 1422c. pleased BESOURCE AMD LIABILITY ITEMS OF REPORTING MEMBER BANKS IN F . B . 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 . RF . 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 . 10 Sept. 3 S e p t . 10 S e p t . 3 S e p t . 10 S e p t . 3 S e p t . 10 S e p t . 3 S e p t . 10 Sept. 3 208 20 8 3|9 329 Number of r e p o r t i n g banks 71 71 %9 4$ 281 262 F r l s ™ " ' - I I I I ® m m #1 i S 12 11 i f 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 1?8, ?77 195. 857 1+58,871 524,952 T o t a l U. S. s e c u r i t i e s 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: 4 4 i , 650 1+38,038 Loans s e c u r e d by U.S-war o b l i g a t i o n s 1, 111, 128 1 , 1 11,460 Loans s e c u r e d by s t o c k s and bonds 1 . 6 1 6 . 7 7 8 1 , 5 8 3.254 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 5^628,427 5 , 6 5 7 , 7 0 4 21.158 ?0- 593 49,768 49,198 65,296 354,770 66,376 354,508 1.042.998 1.046.210 207.729 277,899 813,169 362,990 JO.Og ^90,307 364,495 ^52,592 309,698 J3.844 310,175 715,832 726,083 i4o, 312 133,26 1 98,860 98,180 745,837 490,280 412,17 1 411,598 2,142,242 487,200 2,148,036 7 , 3 7 2 , 4 8 0 , 7 . 3 1 7 . 0 4 0 2 2 6 8 . 0 3 1 2 , 2 6 3 , 0 9 1 l f 858,020 1 . 8 5 8 , 3 6 4 1,512,832 1,516,292 10,986,185 1 0 , 9 9 8 , 5 3 4 3258,533 3 , 2 5 1 , 1 2 7 2 , 6 7 8 , 7 4 9 2,678,317 R e s e r v e b a l a n c e w i t h F* R« Bank 618,737 618,559 130,999 135,913 1,020,503 1,024,679 209,313 211,208 159,662 159,070 Cash i n v a u l t 107,524 100,519 39,940 33,567 215,332 197,780 73,776 70,873 85,986 80,852 4,523,580 4,491,455 971,483 965,599 7,920,032 7,850,616 1801,822 1,782,689 1 , 6 4 8 , 7 3 6 1,619,029 331,351 331,395 287,523 285, 170 1, 272,120 1,268,751 902,678 902,093 596,4io 596,938 12, 769 26,601 1,504 3,111 21,268 44,333 4,875 9,762 3,911 7,660 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 . war o b l i g a t i o n s All other 334,774 370,185 28,192 27,214 497,417 500 535,175 160,743 120 155,631 280 98,288 1,436 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 138,739 138,529 356,961 10,665 169,304 10,589 177,854 225,6o4 826,752 841,269 225,399 39,846 147,476 23,757 363,138 12,754 i4o,3i6 N e t 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 353,065 13,077 147,773 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 ^.3 • 7.5 7.5 u. 5 «.i - e . i u. 5 u. 5
@FedFRASER