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Released for publication STATEMENT FOR THE PRESS Friday afternoon, Sept. 22; not e a r l i e r . St, 30^5' Federal Ressrve Board, Sept. 21, 192^. CONDITION OF MEMBER BANES IN LEADING CITIES. Aggregate increases of $76,000,000 in loans and discounts and of $152,000,000 in net demand d e p o s i t s , accompanied by reductions of $32,000,000 in investments and of $16,000,000 in borrowings from the Federal reserve banks, are shown in the Federal Reserve Board's weekly consolidated statement of condition on September 13 of 79^- member banks i n leading c i t i e s . All c l a s s e s of loans show larger figures than the week before: loans secured by Government obligations - by,$7,000,000, loans secured by corporate obligations - by $48,000,000, and other, largely commercial, loans and d i s counts - by $21,000,000, increases in loans apparently being made i n part to provide cover f o r income tax checks payable on September 15» Under the general head of investments, U. S* bonds show an increase of $8,000,000, U. S« Victory and Treasury notes - a reduction of .$20,000,000, Treasury c e r t i f i c a t e s - an increase of $2,000,000 and corporate s e c u r i t i e s - a reduction of $22,000,000* For member banks i n New York City an increase of $26,000,000 i n loans and discounts, as against reductions of $10,000,000 in Government s e c u r i t i e s and of $16,000,000 i n corporate and other s e c u r i t i e s , are noted* Total loans and investments of the reporting i n s t i t u t i o n s are given $44,000,000 larger than the week before, t h i s increase a f f e c t i n g , however, only the banks outside of New York City. Government deposits declined about $20,000,000, other demand deposits (net), mainly in a n t i c i p a t i o n of the September 15 tax payments, show an increaseof $152,000,000, while time deposits f e l l off $49,000,000. For member banks in New York City reductions of $6,000,000 in Government deposits and of $42,000,000 i n time d e p o s i t s , as against an increase of $48,000,000 i n demand deposits, are noted, Borrowings of the reporting i n s t i t u t i o n s from the Federal reserve banks declined from $137,000,000 to $121,000,000, or from 0*9 to 0 , 8 per cent of their total loans and investments* New York City banks show a reduction of borrowings from the l o c a l reserve bank from $28,000,000 to $20,000,000 and frcm 0*6 to 0*4 per cent in the r a t i o of these borrowings to aggregate loans and investments* Notwithstanding the considerable increase i n deposit l i a b i l i t i e s the reporting member banks show a decrease of about $6,000,000 in their reserve balances with the Federal reserve• banks, while cash i n vault "shows an increase of $9,000,000. For member banks i n New York City a decline of about $11,000,000 in reserve balances with no change in cash are noted* Following i s a statement of changes in the principal a s s e t s and l i a b i l i t i e s on September 13, 1922, as compared with a week and a year ago: Loans and discounts - t o t a l . . . . . Secured* by U. S. Gov't, obligations Secured by stocks and bonds . . All other . . . . . . . . . Investments, t o t a l U. S* bonds . . . . \ . . Victory notes . . . . \. , U, S* Treasury notes Treasury c e r t i f i c a t e s . . . . . . . Other stocks and bonds . . . . . Increase or Decrease In m i l l i o n s of dollars since Sept. 6. 1922> Sent. 14. 1921. . - 667 + 76 + 7 - 335 + 48 + 562 , - gg4 + 21 - 32 + 8 4 - 16 + 2 - 22 +1,243 + 515 - 117 + 582 + 3% + 229 Reserve balances with F. R. Banks . . . . . . . . Cash in vault + + - Government deposits . . . Net demand deposits * . , . . . . . . . . . . . Time deposits . * * , . . . . , . . . . . . . - 20 + 152 - % + 27 +1,014 + 647 Total accommodation at F, R. Banks - 16 - 6 9 134 19 787 Released for p u b l i c a t i o n Friday afternoon, Sept i 22, 1922; not e a r l i e r ' Number of reporting banks - . . ' Loans and discounts, including b i l l s rediscounted with F ~R~ LnW™ Secured by U, S. Govt, obligations 2 * Secured by stocks and bonds (other than TJ. S. s e c u r i t i e s ) ' - I I I I " All other loans and discounts ~~ Total loans and discounts 0 . S. bonds U. S, Victory notes I I "" " Sept, 6 , 1922 791 r\ , 3*522,112 ^ ^ 6 10.S95.3SO 1.3.75,364 1,009,042 867,862 . *•**> K-6* 6 5 5 ^.SSl . 173,272 ^ 0 364,270 214,106 i ; . # ] # V,}}Z.&6 '3f 175.165 ' olll ^ ? r - - - ~ ' B i l l s payable y/ith Federal Reserve Bank: lu^hery-U: ~ - 266 ^5 53,369 141,029 I^TOjUS >•**.*» E2 10,992,939 '° 10,592,194 310.018 10,130,275 3,612,623 3,113,921 2,916,226 172,300 24I,O49 130,499 51.135 193 56.923 447 82.126 462 232,493 2,623 w 69.027 503 72,215 8,073 135,424 g o »9 1* 5 , T' 11,144,907 , 3 t 563>214 157,655 - - l 6 2 ' >.*>.** '30 Sept. l 4 , 1921 810 598,622 2,966,321 7.997,773 11,562,776 ---V. March 15, 1922 S05 409,973 3,134,240 7,364,229 10,909,042 D Set d3!Tiand deposits St CITIES ' 256,922 . 3,480,129 7.082,676 10,519,853 . T/: Government d e p o s i t s 1922 791 " " Tot?l lofms & discounts & i n v e s t , .including b i l l s r e d i s ' d . with F.R.Bk. Time depo s i t s » " « » 1.382.968 V. S. Treasury notes U. s. C e r t i f i c a t e s of indebtedness ... , v Ot.r-r bonds, stocks, and s e c u r i t i e s ^ B i l l s rediscounted with Federal Reserve Bank* ! n ^ r y - ' . s : =°r: : : : : "" Eatio of b i l l s payable and r e d i s c o u n t s with P. B. Bank to t o t a l loans and investments, per cent - - c *,«> 609,127 c 6.1 5a - Released f o r publication Friday afternoon, Sept. 22, 1922; not e a r l i e r . St 3 0 4 ^ PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS SEPT. 13, 1922. . • (Amounts i n thousands of dollars) ___ * Federal Reserve District* Boston New York Fhila. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans-Cy. Dallas San Fran. TotsT" Kunber of reporting banks 49 105 56 84 79 4l 109 37 33 79 51 6g * ygj" Loans and discounts, including b i l l s rediscounted with F. R. Bank: 87,842 Secured by U. S. Govt, o b l i g . 14,732 16,073 29,361 11,177 7,434 42,857 15,562 8,267 10,078 4,105 16,154 263,642 222,148 1,616,415 247,382 338,777 116,348 52,590 516,976 124,493 38,294 Secured by stocks and bonds 67,532 42.729 144,422 3,528,112 A.11 other loans and discounts 569,867 2.220.354 317,708 643.333 307.312 301.348 1002,681 279.851 200.160 348.020 197.601 7 i nx £.:>£ 806,747 3,924,611 Total loans and discounts 581,163 i p i i , 4 7 l 434,837 361,372 1562,514 419,906 246,721 425,636 244,437 875,965 10,855,350 98,382 566,124 U. S. bonds 58,282 161,049 59,449 29,242 137,186 36,045 24,083 58,536 34,294 120,296 1,382,968 1,784 3,151 294 U. S. Victory notes 638 4,711 20,959 2,237 4,543 1,424 283 516 4,984 45,524 26,830 37,748 4,386 398,208 24,699 4,703 Ui S. Treasury notes 71,546 8,102 9,l4l 11,478 9,174 29,365 635,330 U. S. C e r t i f i c a t e s of 66,914 7,200 8,480 5,801 3,841 8,394 27,147 indebtedness 7,391 5,302 10,440 5,382 18,873 175,165 Other bonds,stocks,& s e c u r i t i e s 169,936 770,693 185,784 280.711 55.946 32,951 405.728 84.176 26.126 60.582 7.851 161.405 —2,241.889 * f^^7 Total loans end discounts and investments, including b i l l s rediscounted with F.R, Bk. 1,107 ,349 5,747,509 862,410 1501,610 559,070 437,069 2^08,832 560,163 311,656 568,096 301,654 # 1 0 , 8 8 8 15,376,306 628,470 68,637 96,194 34,708 29,834 204,899 Reserve balance with F. B, Bank 85,681 38,591 .19,640 47,011 23,418 86,013 1,363,096 15,164 89,264 9,400 7,246 Bash in vault 29,792 13,724 57,274 6,852 12,153 10,293 19*593 20,649 291,404 808,048 4,853,066 698,314 881,899 332,171 254,278 Net demand deposits 331,997 200,508 450,751 217,757 639,500 11,144,907 Time d e p o s i t s 245,975 Government deposits B i l l s payable with Secured by U. § . All.other B i l l s rediscounted Secured by U, S. All other F.R. Bank: Govt, oblig. 11,706 62,223 3,688 12,654 - with F.R. Bank: Govt, o b l i g . . 39 12,606 Digitized for• FRASER 781,538 - 486 15,800 54,832 10,423 9,973 . 502,044 143,612 152,891 13,093 4,893 4,632 8,148 3,549 95 - - 55 5,419 100 4,048 7& 6,771 21 3>£43 700,494 170,415 79>537 19,927 5,342 3,749 5,521 1,356 - - 4i 4,266 7 1,712 138 . — 1 2,350 117,853 64,084 550,539 3,563,814 5,479 4,029 12,159 157 , 655 208 500 - - 5,305 173 51,135 193 99 5,939 983 69,027 50 2,675 6 3,798
@FedFRASER