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STATEMENT FOR THE PRESS S t . 4214 F e d e r a l Reserve Board, . September 4, 1924, Released f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , S e p t . 5i not e a r l i e r . CONDITION OF MEMBER BANKS IN LEADING CITIES Aggregate d e c r e a s e s of $17,000,000 i n l o a n s and d i s c o u n t s a s a g a i n s t i n c r e a s e s of $23,000,000 i n i n v e s t m e n t s a r e shewn in t h e F e d e r a l Reserve B o a r d ' s weekly cons o l i d a t e d s t a t e m e n t of c o n d i t i o n on August 27 of 7^7 member banks in l e a d i n g c i t i e s . • , Loans on c o r p o r a t e s e c u r i t i e s d e c r e a s e d by $ 2 4 , 0 0 0 , 0 0 0 , and on U. S. Government s e c u r i t i e s by $ 1 , 0 0 0 , 0 0 0 , w h i l e " A l l o t h e r , 1 1 l a r g e l y commercial l o a n s and d i s c o u n t s i n c r e a s e d by $ 8 , 0 0 0 , 0 0 0 . Holdings of U. S. bonds i n c r e a s e d by $ 1 7 , 0 0 0 , 0 0 0 and h o l d i n g s of c o r p o r a t e s e c u r i t i e s - by $ 5 , 0 0 0 , 0 0 0 . An i n c r e a s e of $ 5 , 0 0 0 , 0 0 0 in T r e a s u r y n o t e s was n e a r l y o f f s e t by a d e c l i n e of $ 4 , 0 0 0 , 0 0 0 in 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 . Member banks i n New York C i t y r e p o r t r e d u c t i o n s i n a l l c l a s s e s of l o a n s - l o a n s on c o r p o r a t e s e c u r i t i e s d e c l i n e d by $ 3 9 , 0 0 0 , 0 0 0 , l o a n s on U. S, Government s e c u r i t i e s by $ 1 , 0 0 0 , 0 0 0 , and "All o t h e r , " l o a n s and d i s c o u n t s by $ 5 , 0 0 0 , 0 0 0 . T h e i r i n v e s t m e n t s i n U. S. s e c u r i t i e s were i n c r e a s e d by $ 7 , 0 0 0 , 0 0 0 and t h e i r h o l d i n g s of c o r p o r a t e s e c u r i t i e s - by $ 5 , 0 0 0 , 0 0 0 . Net demand d e p o s i t s show an i n c r e a s e of l e s s t h a n $ 1 , 0 0 0 , 0 0 0 , i n c r e a s e s of $20,000,000 f o r t h e Chicago d i s t r i c t and of $ 1 3 , 0 0 0 , 0 0 0 f o r t h e A t l a n t a d i s t r i c t being n e a r l y o f f s e t by d e c r e a s e s i n o t h e r d i s t r i c t s , p r i n c i p a l l y New York,Boston, S t . Louis, and San F r a n c i s c o * Time d e p o s i t s of a l l r e p o r t i n g banks i n c r e a s e d by $4,000,000, while t h o s e of t h e New York City banks shew a d e c l i n e of $ 1 2 , 0 0 0 , 0 0 0 . Reserve b a l a n c e s of a l l r e p o r t i n g members show a r e d u c t i o n of $ 4 , 0 0 0 , 0 0 0 and t h e i r c a s h in v a u l t - an i n c r e a s e of $ 3 , 0 0 0 , 0 0 0 . I n c r e a s e s of $ 2 1 , 0 0 0 , 0 0 0 i n r e s e r v e b a l a n c e s and a r e d u c t i o n of $ 1 , 0 0 0 , 0 0 0 i n c a s h are r e p o r t e d by t h e New York C i t y banks. Borrowings of a l l r e p o r t i n g i n s t i t u t i o n s from t h e F e d e r a l r e s e r v e banks d e c l i n e d f r o # $ b l , 0 0 0 , 0 0 0 t o $591000,000. Like borrowings of t h e New York C i t y banks i n c r e a s e d from $7,000,000 t o $ 9 , 0 0 0 , 0 0 0 . A summary of c h a n g e s i n t h e p r i n c i p a l a s s e t s aid l i a b i l i t i e s of r e p o r t i n g members d u r i n g the week and t h e y e a r ending August 27, 19^4, f o l l o w s : I n c r e a s e or d e c r e a s e d u r i n g Year Week Loans and d i s c o u n t s , t o t a l 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 . . . $17,000,000 1,000,000 24,000,000 + 8,000,000 - + — - + + + + + $726,000,000 38,000,000 650,000,000 114,000,000 554,000,000 + 23,000,000 17,000,000 5,000,000 4,000,000 5,000,000 Cash i n v a u l t + 4,000,000 000,000 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 — + + 4,000,000 + - - 549,000,000 26,000,000 T o t a l accommodation a t F. R. Banks . . . . - 2,000,000 - 462,000,000 U. S, T r e a s u 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 . . . . Other bonds, s t o c k s and s e c u r i t i e s , . . c. - + 4" - + 281,000,000 229,000,000 15,000,000 + 487,000,000 + 226,000,000 - 9,000,000 ke.teased f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , September 5, 1924; n o t e a r l i e r . • S t . 4<cl- PRINCIPAL BESOUECE AND LIABILITY ITEMS OF REPORTING MEM3ER BANKS IN LEADING CITIES ( I n t h o u s a n d s of d o l l a r s ) Aug. 27, 1924 Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - - - - Loans a i d d i s c o u n t s , g r o s s : Secured by U. S. Government o o l i g a t i o n s - - - - - _ _ _ _ _ _ _ _ — Seer red by s t o c k s and bonds ( o t h e r than U. S. s e c u r i t i e s ) - - - - - - - - A l l o t h e r l o a i s and d i s c c u n t s - - - - - - - _ _ _ _ _ _ _ _ _ _ 747 Aug. 20, 1924 Feb. 27, 1924 747 759 Aug. 2 9 , 1923 7^9 192,149 4,291,482 7,950,247 193,644 4,315,746 7,941,846 227,448 3,805,100 7,844,981 230,001 3,641,374 7,836,176 12.433.S7S 12,451,236 11,£77,529 11,707,551 - - 270,599 268,850 273,241 274,456 _ _ _ - 1,373,124 1,35S,748 65,553 64,704 76,816 89,792 652,413 647,687 881,155 95,730 102,456 794,273 101,765 - - 2,630,488 2,624,899 2,220,483 2,143,933 _ _ _ _ _ _ _ _ 17,524,790 17,518,610 16,374,403 16,244,339 1,591,641 1,595,677 1,419,223 1,365,588 273,862 270,777 280,301 282,805 _ _ _ _ _ 12,419,092 12,418,613 11,167,428 10,880,405 Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,555,078 4,551,441 4,183,680 4,005,773 95,574 95,604 124,094 121,642 21,173 37,652 19,769 40,771 162,621 134,831 269,918 251,335 .3 .3 1.8 3-2 T o t a l l o a n s and d i s c o u n t s - - - - - - - - - — - — U, S. P r e - w a r bonds - - - - - - - - - - - - - - - - - U. S. L i b e r t y bonds - - - - - - - - - - - - - - - - - U. S. T r e a s u r y bonds - TJ. S. T r e a s u 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 Other bonds, s t o c k s and s e c u r i t i e s - - - - - - - - - T o t a l l o a n s and d i s c o u n t s and i n v e s t m e n t s Reserve b a l a n c e s v / i t h F e d e r a l R e s e r v e Banks - - Cash in v a u l t - - - - - Ifet demand 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 an3 r e d i s c o u n t s w i t h F e d e r a l Reserve Banks: Secured- by U. S. Government o b l i g a t i o n s - - - - - - - - - - - - - All o t h e r - - - - - - - - - - - - - - - — _ _ _ _ _ _ _ R a t i o of b i l l s p a y a b l e and r e d i s c o u n t s w i t h F e d e r a l Reserve Banks t o t o t a l l o a n s and i n v e s t m e n t s , p e r cent - - - - - — - - - - - - ~ ~ C. 1,030,296. 1,064,090 83,362 R e l e a s e d f o r p u b l i c a t i o n F r i d a y a f t e r n o o n , September 5, 1924; n o t e a r l i e r . g%. 4214b PRINCIPAL RESOURCE AND LIABILITY ITEMS OF ALL REPORTING- MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS, F e d e r a l Reserve D i s t r i c t Number of r e p o r t i n g banks Loans and d i s c o u n t s , g r o s s : Secured by U.S,Govt, o b l i g . Secured by s t o c k s & bonds A l l Other l o a n s & d i s c c u n t s Boston 43 Phila. 55 8,430 79,846 9,63s 253,049 1 , 9 4 4 , 5 0 4 273,907 626,666 2 , 5 4 9 , 3 % 369,156 T o t a l l o a n s and d i s c o u n t s S t . L o u i s Minn. 34 25 Kans.Cy, D a l l a s San F r a n , 72 51 66 18,607 6,452 7,805 32,455 8,680 2,717 4,802 3,102 4 2 0 , 2 1 1 124,645 61,756 6 7 7 , 9 7 1 146,287 4 6 , 7 3 9 8 1 , 1 1 7 59,382 707,119 3 3 3 , 1 ^ 1 341,790 1 , 2 0 3 , 5 5 0 321,727 176,941316,719 204,657 9 615 195,914 799,481 2%, 1924, Total 747 192,149 4 , 2 9 1 482 7,950,247 8 8 8 , 1 4 5 4 , 5 7 3 , 6 5 0 658,701 1 , 1 4 5 , 9 3 7 464,238 4 1 1 , 3 5 1 1 , 9 1 3 , 9 7 6 476,694 226,397402,638 2 6 7 , 1 4 1 1 , 0 0 5 , 0 1 0 1 2 , 4 3 3 , 8 7 8 15,023 51,505 1 0 , 6 9 2 4 7 , 1 4 6 27,837 14,768 23,370 14,808 8 , 4 7 5 11,629 18,434 26,912 270,599 658,041 49,837 84,945 192,541 27,824 8,63s 145,036 23,197 2 0 , 0 4 7 39,134 12,456 111,428 1 , 3 7 3 , 1 2 4 18,924 2,892 5,875 1,909 1,023 629 11,078 2,574 1,143 230 2,358 16,923 65,558 11,376 337,912 25,703 55,476 5,086 3,4i4 120,648 10,699 1 9 , 7 1 0 19,01S 9,308 3k,063 652,413 U» S* P r e - w a r bonds U. S, L i b e r t y bends U* S. T r e a s u r y bonds U. Se T r e a s u r y n o t e s U, S* C e r t i f i c a t e s of Indebtedness 6,366 Other bonds, s t o c k s and securities T o t a l l o a n s and d i s c o u n t s and i n v e s t rants New York 108 ( I n t h o u s a n d s of d o l l a r s ) Cleve. R i c h . A t l a n t a Chicago ?S 75 36 104 AUGUST 37,526 4,970 5,972 2,203 1,284 13,889 1,128 201,952 1,031,649 237,28 7 333,180 56,926 42,689 372,441 90,933 2,472 2,725 12,682 98,730 26,430 59,905 14,609 162,487 2,630,488 7,513 1 , 2 1 3 , 6 8 2 6 , 7 0 9 , 2 0 7 990,082 1 , 7 8 2 , 1 6 1 585,137 482,773 2 , 6 0 0 , 4 3 8 620,033 308,802 537,154 325,816 1 , 3 6 9 , 5 0 5 1 7 , 5 2 4 , 7 9 0 Reserve b a l a n c e s w i t h JP. R.Bk. 90,016 761,280 77,568 113,305 36,720 34,299 237,147 42,670 22,066 46,013 30,340 100,217 1,591,641 Cash in v a u l t 18,860 75,227 15,346 28,770 12,719 10,676 54,287 6,882 6 , 4 7 0 12,884 9,687 22,052 273,862 Net demand d e p o s i t s 849,527 5 , 5 6 5 , 1 1 7 723,605 975,954 333,089 28 b, 107 1 , 7 3 7 , 2 0 3 356,848 194,726423,073 213,660 760,183 1 2 , 4 1 9 , 0 9 2 Time d e p o s i t s 325,322 1,026,661 149,706 698,135 179,382 187,050 90,888 625,024 4,555,078 Government d e p o s i t s B i l l s p a y a b l e and- r e d i s c o u n t s w i t h F, R, Bank: Secured by U. S»Govt. o b l i g . All o t h e r 843,559 203,918 89,907135,526 14,255 19,501 12,180 13,145 4,46i 5,192 12,515 2,206 2,203 1,027 2,720 6,169 95,574 425 867 8,683 10,224 2,124 2,342 1,446 833 2,375 6,559 1,782 5,329 2,422 1,149 350 794 449 144 787 1,142 6,596 280 1,723 21,173 37,652
@FedFRASER