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Released f o r p u b l i c a t i o n ^Friday a f t e r n o o n , Sept * 29 J not e a r l i e r . STATEMENT FOR THE PRESS St, 3064 Federal Reserve Board, Sept. 26, 1922. CONDITION OF MEMBER BASIS IN LEADING CITIES. Further i n c r e a s e s of $44,000,000 i n loans and discounts and of $37,000,000 in Treasury c e r t i f i c a t e s , following the allotment on September 15 of $227,000,000 of one-year tax c e r t i f i c a t e s , as a g a i n s t a reduction of $12,000,000 in other Government s e c u r i t i e s and of $5,000,000 i n corporate s e c u r i t i e s , are shown in the Federal Reserve Board's weekly consolidated statement-of condition on September 20 of 790 member banks in leading c i t i e s . All c l a s s e s of loans show l a r g e r f i g u r e s than the week b e f o r e : loans secured by Government o b l i g a t i o n s - by $2,000,000, loans secured by corporate o b l i g a t i o n s - by $28,000,000, and o t h e r , l a r g e l y commercial, loans and discounts by $14,000,000, Member banks in New York City r e p o r t a t o t a l i n c r e a s e in loans of $43,000,000, of which $39,000,000 r e p r e s e n t s an increase in loans against c o r p o r a t e stocks and bonds. Their holdings of Treasury c e r t i f i c a t e s , a p p a r e n t l y because of t h e l a r g e demand f o r the newly issued 3 3 / ^ p e r ' c e n t c e r t i f i c a t e s by u l t i m a t e i n v e s t o r s , show a reduction of $3,000,000, together with a nominal d e c l i n e i n other Government s e c u r i t i e s and a r e d u c t i o n of $8,000,000 in t h e i r holdings of c o r p o r a t e s e c u r i t i e s . Total loans and i n - • vestments 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 are given $64,000,000 l a r g e r than the week b e f o r e , member banks i n New York City r e p o r t i n g about one-half of the increase, * Government d e p o s i t s declined about $10,000,000, other demand d e p o s i t s . ( n e t ) , following the payment of customers' income tax checks and s u b s t a n t i a l withdrawals of funds by country banks, mainly from New York and Chicago d e p o s i t o r i e s , show a reduction of $84,000,000, while time d e p o s i t s show an i n c r e a s e f o r the week of $11,000,000, For member banks in New York City reductions of $12,000,000 in Government d e p o s i t s , of $6,000,000 in demand d e p o s i t s and of $1,000,000 in time d e p o s i t s are n o t e d . Borrowings of the r e p o r t i n g banks from the Federal r e s e r v e banks increased from $121,000,000 to $1.64,000,000, or from 0 , 8 to 1 , 1 per cent of t h e i r t o t a l loans and investments. 1 New York City banks show an increase of borrowings from the l o c a l reserve-bank from $20,000,000 to $26,000,000, or from .4 to .6 per cent of the banks' .^aggregate loans and investments. Reserve balances of the r e p o r t i n g banks, notwithstanding the considerable increase in borrowings a t the Federal reserve banks, declined by $24,000,000, and cash in vault f e l l off $8,000,000. New York City banks r e p o r t a reduction of $33*000,000 in r e s e r v e balances and a nominal d e c l i n e . i n cash on hand. Following i s a statement of changes in 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 September 20, 1922, as compared with a week and a year ago; Loans and discounts - t o t a l . , . . . . . . . . Secured by U. S. Gov't, o b l i g a t i o n s Secured by stocks and bonds All other . , . , , . . Investments, t o t a l . , . . . U. S. bonds Victory n o t e s U. S. Treasury n o t e s Treasury c e r t i f i c a t e s Other stocks and bonds. Reserve balances with,F«. R. Banks Cash in vault 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 , Total accommodation a t F. R. Banks. , . . . . . . . Increase or . Decrease In m i l l i o n s of d o l l a r s since Septi 13, 1922. Sept- 21, 1921. + 4 4 605 + 2 327 , + 28 + 577 + 14 855 + + - 20 1 6 5 37 5 + + + + 1,101 5H 127 466 H 240 - 24 8 + - 150 18 + 10 84 11 + + 401 1,228 660 - 697 + 4 3 + Released f o r p u b l i c a t i o n Friday a f t e r n o o n , Sept. 29, 1922; not e a r l i e r , ... PRINCIPAL RESOURCE AND LIABILITY ITEMS OF REPORTING MEMBER BANKS IN LEADING- CITIES * (Amounts in thousands of d o l l a r s ) Sept. 20, 1922 jqq Number of r e p o r t i n g banks Loans and d i s c o u n t s , including b i l l s rediscounted with F. R, Bank: Secured by U. S. Govt, o b l i g a t i o n s - Total loans and discounts D. s . bonds U. S, (Treasury notes 0 10,939,233 1,331,695 10,895,350 1,352,96s 10,392,672 1,017,677 11,544,165 870.244 39,553 45,524 62,510 166,263 630,304 635,380 379,661 164,685 211,902 175,165 172,614 200,914 2.236,854 15,^39,541 2,241,889 15,376,306 2,079.605 l4,6o4,739 1,996.800 1^,9^3,071 1,338,900 1,363,096 1,256,746 1,139,256 283,128 291,404 271.248 11,060,765 11,144,907 10,337.664 9,833,196 3,575.296 3,563,814 3,132,921 2,915,659 148,449 157,655 224,114 549,131 ~ " 62,042 51,135 81,670 224,323 - - S17 100,636 qgx 69,027 7 lel.'ols . . . - O; S. C e r t i f i c a t e s of indebtedness Sept. 21, 1921 263 642 , U. S. Victory n o t e , - March 22, 1922 __ "" ^ 770 266,199 :::::: - - - Sept. 13, 1922 7q1 S t , ^064a . . . Other bonds, stocks, and s e c u r i t i e s Total loans & discounts & 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 . with F.R.Bk. Reserve balance with F. E. Bank Cash in vault Net demand deposits Time deposits Government deposits - - , rq? kIio ill ill ' 301,445 B i l l s payable with Federal Reserve Bank: lll^therV- I B i l l s rediscounted with Federal Reserve Bank; Secured by U. S. Govt, obligations AUother Ratio of b i l l s payable and rediscounts with F. R. Bank t o t o t a l loans and investments, per cent ^ ^ y J r fie 570 ^ 7 5 S Released f o r p u b l i c a t i o n Friday a f t e r n o o n , Sept. 29, 1922; not 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 ; . (Amounts i n thousands of d o l l a r s ) Boston New York P h i l a . Federal Reserve D i s t r i c t Cleve. . Rich. A t l a n t a Chicago St., Louis Minn.. Kans.Cy.1 D a l l a s 84 iltmber of r e p o r t i n g banks 105 56 40 49 109 79 . . 37 33 ' 51 79 l o a n s and d i s c o u n t s , i n c l u d i n g b i l l s rediscounted w i t h F» R, Bank: Secured by U. S. Govt, o b l i g . 14,337 29,482 10,132 40,402 16,014 88,325 16,739 7,100 8,318 10,159 4,125 Secured by s t o c k s and bonds 220,430 1,653,212 240,906 337,285 117,030 57,243 511,461 121,909 39,015 68,962 41,713 All o t h e r l o a n s and d i s c o u n t s 574,174 2,224,573 321,117 646,522 306,654 302,806 1,000,030 275,498 194,833 349.097 205.928 T o t a l loans and d i s c o u n t s SOS,941 3 ,966,710 578,762 1,013,289 433,316 367,149 1,551,893 413,421 242,166 428,218 251,766 U. S. bonds 96,461 568,001 58,278 159,981 59,557 28,560 136,498 36,542 24,391 57,902 34,409 U, 5. Victory n o t e s 1,770 16,212 2,549 611 1,766 4,458 4,620 234 286 1,340 528 U. S. Treasury n o t e s U. S. C e r t i f i c a t e s of : indebtedness 23,925 401,264 26,636 35,834 4,954 3,146 71,519 8,220 9,303 12,140 7,830 66,784 12,343 761,881 184,778 11,403 5,703 9,382 37,871 410,707 9,268 7,474 26,832 13,192 St.3064b. SEPT. 20i 1922* San Fran, 68 Total 790 21,066 266,199 145,834 3,555,600 716,202 7,117,434 883,102 10,939,233 121,115 1,381,695 5,179 8,588 39,553 24,775 630,304 8,155 7,502 22,497 211,902 Other b o n d s , s t o c k s , & s e c u r i t i e s 169,05s 281,314 55,779 33,493 60,000 85,295 160,215 2,236,854 T o t a l loans 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. Bk. 1,,107,985 5,780,852 863,346 1,503,587 560,043 442,341 2,212,946 557,366 310,452 572,792 310,948 1,216,883 15,439,541 Reserve balance with F.R. Bank 84,604 592,685 73,510 103,079 33,553 32,930 196,956 37,174 24,157 47,603 25,673 86,976 1,338,900 Cash in v a u l t 18,746 28,891 16,613 8,823 52,386 6,829 6,101 n , 9 3 5 - 10,079 87,869 15,103 283,128 19,753 Net demand d e p o s i t s 805,244 4,841,689 696,911 ,874,927 324,031 251,144 1,437,360 319,479 194,741 449,124 221,778 644,337 11,060,765 Time d e p o s i t s 246,186 782,193 55,180 504 , 634 144,747 154 , 747 701,755 170,895 80,772 117,555 64,557 552,075 3,575,296 Government d e p o s i t s 14,098 18,030 11,909 51,074 10 , 755 6,476 4,529 4,621 6,598 11,128 3,66s 148,449 5,563 B i l l s payable with F,R. Bank: Secured by U. S, Govt, o b l i g . 2,044 10,788 2,089 11,169 9 , 731 4,307 7,516 6,529 889 1,330 62,042 65 5,585 All other 145 170 315 B i l l s rediscounted w i t h F.R. Bank: Secured by U. S. Govt, o b l i g . 4i 228 105 100 56 44 56 77 7 6 817 97 All o t h e r 10,201 22,449 6,849 5,289 9,263 16,343 5,981 4,600 8,307 2,305 5,142 100,63 6 3,901 - — - - - - Released f o r p u b l i c a t i o n Friday a f t e r n o o n , Sept, 29, i g 2 2 / % o t e a r l i e r . Q+ w h PRINCIPAL RESOURCE AMD LIABILITY ITEMS 0% REPORTING MEMBER BANKS IN F. R, BANK AND BRANCH CITIES AND IN OTHER SELECTED CITIES*' — ———•— : —' (Amounts in thousa,nds of d o l l a r s ) All F. R. F. R. Other New York City City of Chicago Bank c i t i e s Branch c i t i e s selected c i t i e s Sept. 20 Sept. 13 Sept. 20 Sept. 13 Sept. 20 Sept. 13 Sept.20 Sept.13 Sept. 20 Sept. 13 Number of r e p o r t i n g banks 64 64 50 50 268 269 209 209 313 313 Loans and d i s c o u n t s , including b i l l s r e d i s ' d . w i t h F. R, Bank: Secared by U. S. Govt, o b l i g . 77,728 75,217 31,285 34,083 177,627 175,211 47,301 47,577 41,271 40,854 Secured by s t o c k s and bonds 1,479,008 1,440,124 386,874 393,380 2,619,03s 2,600,486 490.121 484,155 446.441 443,471 All o t h e r loans and d i s c o u n t s 1,944,075 1,940,018 627,196 627,425 4,425,708 4,431.. 624 1,3°'T^oj , W 1.511 1,29^,486 1,280,491 Total loans and d i s c o u n t s 3,500,811 3,453,359 1,045,355 1,054,888 7,222,373 7,207,321 1,934:662 1,923.243 1,782,198 1,764,816 U- S. bonds 497,231 495,850 62,412 63,224 800,803 801,540 307,594 308,134 273,298 273,294 U. S. Victory n o t e s 15,070 19,330 4,191 3,956 27,471 33,180 7,866 7,551 4,531 4,478 U. S. Treasury n o t e s 382,972 379,724 50,100 50,063 510,957 511,053 71,231 76,434 48,116 47,893 U- S- C e r t i f i c a t e s of indebtedness 60,023 63,165 20,372 13,64i 134,249 113,742 54,468 44,194 23,185 17,229 Other bonds, s t o c k s , and s e c u r i t i e s 567,433 575,362 177,477 173,468 1,199,526 1,207-014 621.368 621.831 415:960 413,044 Total loans and d i s c o u n t s and investments, including b i l l s red!scounted w i t h F, R, Bank 5,023,540 4,992,290 1,359,672 1,359,475 9,895,379 9,873,850 2,996,874 2,981,702 2,547,288 2,520,754 Reserve balance w i t h F. R. Bank 544,822 578,337 141,220 145,619 956,645 988,136 221,472 211,613 160,733 163,347 Crvsh in v a u l t 73,838 75,549 28,791 30,877 149,006 154,800 55,880 60,644 78,242 75,960 Net demand d e p o s i t s 4,347,413 4,352,754 983,158 1,005,138 7,679,016 7,732,142 1,778,952 1,804,614 1,602,797 1,608,151 Time d e p o s i t s 557,658 558,577 330,693 330,266 1,766,442 1,767,123 1,046,360 1,040,143 762,494 756,548 Government d e p o s i t s 46,406 57,988 11,419 14,881 107,174 119,815 27,048 22,870 14,227 14,970 B i l l s payable w i t h F. R. Bank: Secured by U. S. Govt, o b l i g a t i o n s 6,455 6,480 2,464 905 28,378 24,315 21,294 15,225 12,370 11,595 All other 170 173 145 20 B5.1 I s rf.cu scounted w i t h F. R. Bank: Secured by U, S. Govt, o b l i g a t i o n s 228 486 418 615 305 251 117 94 All other 19,281 12,64o 7,114 2,258 60,845 40,325 20,727 11,535 19,064 17,167 Ratio of b i l l s payable and rediscounts w i t h F. R. Bank to t o t a l loans and investments, p e r cent .6 .4 .7 1.4 1.2 •9 1.1
@FedFRASER