Full text of H.4.2 Weekly Consolidated Condition Report of Large Commercial Banks in the United States : September 9, 1921

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STATEMENT FOE THE PRESS

Released, f o r p u b l i c a t i o n i n
F r i d a y a f t e r n o o n p a p e r s , S e p t . 9;
not e a r l i e r .

St-2253
..Federal Reserve Board.
» September 8, 1921•

CONDITION OF MEMBER B A M S I N LEADING- C I T I E S-

S u b s t a n t i a l i n c r e a s e s i n demand and time d e p o s i t s , a s a g a i n s t m o d e r a t e
r e d u c t i o n s i n l o a n s and i n v e s t m e n t s a r e i n d i c a t e d i n t h e F e d e r a l Reserve
B o a r d ' s weekly c o n s 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 31 of 812 memb e r "banks i n l e a d i n g c i t i e s .
Loans s e c u r e d by U n i t e d S t a t e s Government o b l i g a t i o n s shovv a d e c l i n e
f o r the week of a b o u t $ 2 0 , 0 0 0 , 0 0 0 , l o a n s s e c u r e d by c o r p o r a t e and o t h e r
o b l i g a t i o n s d e c l i n e d by $ 4 , 0 0 0 , 0 0 0 , w h i l e o t h e r l o a n s and d i s c o u n t s , l a r g e l y
1
of a commercial and i n d u s t r i a l c h a r a c t e r , s h o w an i n c r e a s e f o r t h e weak of
$ 2 0 , 0 0 0 , 0 0 0 . For t h e member banks ii. New York City a d e c l i n e of $11,000,000
i n l o a n s s e c u r e d by Government o b l i g a t i o n s and i n c r e a s e s of $ 2 , 0 0 0 , 0 0 0 i n
l o a n s s e c u r e d by c o r p o r a t e and o t h e r o b l i g a t i o n s and of $22,000,000 i n comm e r c i a l l o a n s a r e shown.
I n v e s t m e n t s i n T r e a s u r y c e r t i f i c a t e s show a r e d u c t i o n f o r t h e week of
$13,000,000, w h i l e changes i n t h e amounts of U. S. bonus, V i c t o r y n o t e s and
Treasury n o t e s h e l d by r e p o r t i n g member banks were only n o m i n a l . For the
New York City banks a r e d u c t i o n of $ 3 , 0 0 0 , 0 0 0 i n c e r t i f i c a t e h o l d i n g s , a s
a g a i n s t a nominal i n c r e a s e i n o t h e r U- S . s e c u r i t i e s i s n o t e d . I n c o n s e quence of t h e above c h a n g e s , t o t a l l o a n s and i n v e s t m e n t s of the r e p o r t i n g
i n s t i t u t i o n s show a f u r t h e r d e c l i n e f o r t h e weak of $22,000,000, the e n d - o f August t o t a l of $ 1 4 , 7 6 2 , 0 0 0 , 0 0 0 b e i n g a b o u t 12-8 p e r Cant below tne t o t a l
r e p o r t e d a y e a r a g o . For t h e New York City members, the c o r r e s p o n d i n g amount
was $ 4 , 6 5 5 , 0 0 0 , 0 0 0 , or l j . ? p e r c e n t below t h e c o r r e s p o n d i n g 1$20 t o t a l .
T o t a l accommodation of r e p o r t i n g i n s t i t u t i o n s a t t h e F e d e r a l r e s e r v e
banks shows a d e c r e a s e f o r t h e week from $$67,000,000 to $956,COO,uOO,
though t h e r a t i o of t h i s accommodation t o t h e b a n k s ' t o t a l l o a n s and i n v e s t ments remains unchanged a t 6 - 5 p e r c e n t . For t h e New York City banks, a d e c r e a s e from $247,0Q0,000 t o $242,000,000 i n t h e t o t a l borrowings f r o m t h e
l o c a l r e s e r v e bank, and f r o m 5*3 to 5*2 p e r c e n t i n t h e r a t i o of accomr.odaticr.
is noted.
Government d e p o s i t s shovv a f u r t h e r r e d u c t i o n of $30,000,000, of which
$12,000,000 r e p r e s e n t s n e t w i t h d r a w a l s f r o m t h e New York C i t y b a n k s . Other
demand d e p o s i t s ( n e t ) i n c r e a s e d by $ 7 4 , 0 0 0 , 0 0 0 , while time d e p o s i t s show a
g a i n of $20,000,000 f o r t h e week. By f a r t h e l a r g e r i n c r e a s e i n demand d e p o s i t s , v i z . , $ 6 0 , 0 0 0 , 0 0 0 i s shown t o have t a k e n p l a c e a t t h e New York banks
i n consequence of the l a r g e i n c r e a s e i n amounts due to c o r r e s p o n d e n t b a n k s .
Reserve b a l a n c e s of t h e r e p o r t i n g banks a t t h e F e d e r a l r e s e r v e banks
show a n i n c r e a s e f o r t h e week of $ 7 , 0 0 0 , 0 0 0 , i n k e e p i n g w i t h t h e i n c r e a s e i n
demand d e p o s i t s shown. Cash i n v a u l t , on t h e o t h e r hand, shows a l o s s of
$12,000,000- For t h e New York C i t y banks, an i n c r e a s e of $14,000,000 i n
r e s e r v e b a l a n c e s a t t h e l o c a l F e d e r a l r e s e r v e bank, and a d e c r e a s e of
$5,000,000 i n c a s h a r e n o t e d .




xeieased 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 . 9, 1321; not
PRINCIPAL RESOURCE MID LIABILITY IT3.S OF REPORTING IfUBZR BANKS III LHADIITG CITIES
(Amounts i n thousands of d o l l a r s )
Aug. 24, 1921
Aug. 31, 1921
812
812
Number of r e p o r t i n g banks - - - - - - - - - - - - - - - - - - - - - - -

l i a r . 4, 1921
524

S e p t . 3,1920

Loans and d i s c o u 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:
Loans s e c u r e d b y U- S- Govt, o b l i g a t i o n s
Loans s e c u r e d by s t o c k s and bonds ( o t h e r t h a n U« S- s e c u r i t i e s ) - - - A l l o t h e r l o a n s and d i s c o u n t s - - - - - - - - - - - - - - - - - - - - -

957,3SO
3,044,846
(a)

T o t a l l o a n s and d i s c o u n t s
UU.
IJ.
TJ.

SSSs.

bonds - - - - Victory notes Treasuiy notes
C e r t i f i c a t e s of

- - - - - - - - - - - - - - - - - - indebtedness

Other b o n d s , 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 & d i s c o u n t s & 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 . w i t h F-R-Bk. -

629,425

St.2259a-

609,197
2,922,720
7,962,006

2,926,664
7,941,855

785,992
3,069,152
8,904,075

11,493,923

11,497,977

12,759,249

80S,116
166,os4

865,795
194,469

370,054
165,219

si 9

(a)
872,546
192,943

50,Sol

52,019

157,733

171,323

207,679

2,024,09%

2,028,706

2,024,983

14,761,259

14,784,285

16,052,175

16,927,971

1,210,452

1,279,101

1,394,957

301,486

325,471

349,505

-

-

422,050
(a)

Cash i n v a u l t - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

1,217,579
289,714

Net demand d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - -

9,967,5^7

9,893,704

10,518,374

11,242,044

Time d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

2,924,701

2,904,760

2,919,sis

2,767,782

Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - - - - - - - -

167,104

197,059

91,043

64,755

B i l l s p a y a b l e w i t h F e d e r a l Reserve Bank:
Secured by U- S- Govt, o b l i g a t i o n s - - - - - - - - - - - - - - - - - / L ll o t h e r - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

265,667
671

261,397

534,545
1,676

786,584
946

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 Reserve Bank:
Secured by U- S. Govt, o b l i g a t i o n s - - - - - - - - - - - - - - - - - All o t h e r - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

619,205

213,117
1,082,746

1,1)2,180

Reserve b a l a n c e w i t h F . R» Bank - - - - - - - - - - - - - - - - - - - - -

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 . R. 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 c e n t - - - - -




_ _ _ _ _ _ _ _

70,409

6-5

593

75,609

628,999

6.5

11.4

(a) Comparable f i g u r e s n o t a v a i l a b l e .

262,233
I3.O

Rele.isw^ ^ or yaVxxcation F r i d a y a f t e r n o o n , S e p t . 9, 1921; not e a r l i e r .
S t . 22 59b.
PRINCIPAL RESOURCE AM) LIABILITY ITEMS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AT CLOSE OF BUSINESS AUG- 3 1 ^ 1 9 2 1 .
——
_„r
(Amounts i n thousands of d o l l a r s )
F e d e r a l Reserve D i s t r i c t
Boston New York P h i l a .
C l e v e l . Richn. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . Total
Number of r e p o r t i n g banks
49
112
5S
87
82
43
112
37
35
79
52
66
812
Lear s and d i s c o u n t s i n c l u d ing b i l l s rediscounted with
F . R. Bank:
Loans s e c . b y U . S . G o v t . o b l i g .
34,035
242,553 69.773
58,U4o 24,957 17,683
78,002 18,164 13,114 18,328
7,446
26,702 609,197
Loans s e c . b y s t o c k s and bonds 185,689 1,215,577 182,394 336,644 106,572 51,916
440,646 119,458 32,416 68,583 38,151 144,674 2,922,720
A l l Other l o a n s & d i s c o u n t s
592,889 2 , 7 0 1 , 8 8 6 351,718
655,029 327,365 306,826 1,167,123 301,943 236,098 368,289 205,089
T o t a l l o a n s and d i s c o u n t s
~
*
— — 458,894
> . ... 376,425 1,685,771 439,565 281,628 455,200
812,613 4,160,016 603,885 1,050,113
d50,686 919,127 11,493,923
U. S, bonds
36,776 312,537 46,560 105,377 59,492 30,849
70,558 26,890 15,833 33,755 33,732
870,054
97,695
U. S . V i c t o r y n o t e s
5,990 79,714 5,641
4,846
16,659
2,186
1,942
26,952
761 2,881 1,172
16,475
165,219
U. S . T r e a s u r y n o t e s
30,010 7,177
1,937
1,152
664
102
161
254
2,863
5,792
729
50,861
U. S , C e r t i f i c a t e s of
indebtedness
3,64o
74,466 13,356
9,689
2,447
20,651
944
2,955
981
2,967
6,293
19,349
157,738
139,720
712,783 153,441
275,904 53,548 36,290 341,784 67,157 20,248 44,663
169,188 2,024,094
9,368
T o t a l l o a n s 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, 000,676 5,369,526 830,060 1,458,894 580,399 448,197 2,151,508
536,600 319,705 542,953 298,654 1 , 2 2 4 , 7 1 7 14,761,889
R e s e r v e b a l a n c e w i t h F . R. Bank 71,700
576,255 58,815
89,614 29,420 25,279
178,535 38,022 18,907 41,334 18,572
71,126 1,217,579
Cash i n v a u l t
20,105
95,403 16,534
26,592 13,392 9,413
6,118 12,080
51,708
6,697
22,297
289,714
9,375
Net demand d e p o s i t s
700,129 4,465,258 608,790
806,715 295,715 209,466 1,299,128 283,343 172,777 373,680 181,128 571,418 9,967,547
Time d e p o s i t s
179,103
435,485 4l,207
427,738 122,242 142,024
652,397 144,720 68,526 102,525 60,779
547,955 2 , 9 2 4 , 7 0 1
Government d e p o s i t s
12,881
73,667 17,717
13,546
5,192
4,664
16,149
2,697
5,025 4 , i o 6 3 , 5 6 4
167,104
7,896
B i l l s p a y a b l e w i t h F.R.Bank:
S e c . by U.S. Govt. o b l i g .
12,135
92,731 28,103
18,781 24,151 12,740
27,767 12,341
3,269
4,636
8,356
20,657 265,667
All other
27
l4i
478
25
671
Sec. by U.S. Govt, o b l i g .
All other




6,722
35,836

• 14,944
182,124

18,477

22,748

7,599
64,553

3,150
43,989

4,859
37,510

6,463

2,240

87,019 30,301

1,126
32,685

1,700
26,26s

357
16,599

2,772
39,573

70,409

619,205

R e l e a s e d f o r p u b A i R a t i o n F r i d a y a f t s m o on., September 9, 1S21; not e a r l i e r .
PHI 113 IP AL RESOURCE AM) LIABILITY ITEMS OF REPORTING l.IELIBER BASKS III E. R. BAI1K AH)
fAmounts i n t h o u s a n d s of d o l l a r s )
AH
Bank
C i t y of Chicago
Few York C i t y
Aug. 24 Aug. 31
Aug. 24
. Aug. 31
Aug. 31
Number of r e p o r t i n g b a n k s
280
51
70
70
51
Loans and d i s c o u n t s i n c l u d i n g
" b i l l s areaisaouBfced. w i t h F . R . B a n k :
Loans s e c - b y U . S • G o v t . o b i i g .
430,790
219,463
230,096
55,979
55,239
Loans s e c . b y s t o c k s and bonds
322,449 2 , 0 4 4 , 4 1 2
321,417
1,057,730 1,056,142
A l l o t h e r l o a n s and d i s c o u n t s
742,106 5 , 1 5 9 , 7 9 1
2,406,756 2,384,545
740,177
T o t a l l o a n s and d i s c o u n t s
3 , 6 8 3 , 9 4 9 3 , 6 7 0 , 7 8 3 1,116,833 1,120,534 7 , 6 3 4 , 9 9 3
U* S* b o n d s

St.225;:
'0RT1ITG
'£Ax>iiZS
,
OTHER
BE"
BRMTCIi CITIES AlTD ALI
-

E. R.
cities
Aug. 24
280

E. R.
Branch c i t i e s
Aug. 24
Aug. 31
213
213

453,869
2,038,346
5,137,542

80,066
79,402
96,154
98,341
412,097
466,211
415,356
472,962
1,447,231 1,442,043 1,354,984 1,362,303

7,629,757

2,011,7S3 2,011,159 1,847,147 1,857,061
211,134

211,158
27,186

6,757

26,988
6,896

31,413

33,924

18,503

21,083

573,810

575,293

348,479

346,602

265,918

265,996

17,557

17,118

443,561

442,313

215,359

214,645

U. S. V i c t o r y n o t e s

71,842

70,532

10,971

11,928

98,257

99,153

39,974

39,745

U- S* T r e a s u r y n o t e s

27,372

27,236

1,219

1,234

37,147

38,325

6,818

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

69,365

71,900

9,200

9,440

107,822

116,376

O t h e r b o n d s , s t o c k s and s e c u r i t i e s

536,570

545,493

132,424

129,378

1,101,805

1,106,811

4,655,016

4,651,940

1,288,204 1,289,632

9,423,585

9,432,735

535,010

520,918
88,697

127,844
30,007

127,568

898,028

30,899

164,624

172,683

3,947,586

901,761

887,978

7,008,810

6,933,060

259,561

311,567

3H,507

1,3#,718

1,346,599

83,043

11,885

15,436

129,670

73,373

8,591

8,716

147,285

T o t a l l o a n s a n d 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.Bank
R e s e r v e b a l a n c e w i t h E. R» Bank
CadEh i n v a u l t
Hex; 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
B i l l s p a y a b l e w i t h E . R. Bank:
S e c . by U. S. Govt, o b l i g a t i o n s
All other
B i l l s r e d i s c o u n t e d w i t h F- R. Bank:
Sec, by U- S. Govt, o b l i g a t i o n s
All other
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 E-R. Bank t o t o t a l l o a n s and i n vestments, p e r c e n t



83,337

4,007,827
266,783
71,000
72,008
-

13,494
1 5 6 , 2 0 8 •,.

5.2

-

14,360.

158,819 ' .

: 5-3

-

—

4,590
37,952

44,096

4.0

4.5

4,599

-

48,552

394,632
6.3

All other
r e p o r t i n g banks
Aug. 24
Aug. 31
319
319

886,623

6,937

2,879,157 2,551,523 2,459,147 2,470,027

134,190.

185,361

134,779

153,259

24,222

28,336

13,212

15,464

142,367

76,698
373

74,646
525

41,684

44,384
68

54,860

13,802
100,299

103,613

8,055

7,962
122,582

6.4

" 6.9

-

402,804

139,050
70,131
72,179
54,959
1,552,571 1,553,650 l , 4 0 6 , l 6 6 1,406,994
918,858
909,636 651,125 648,525

56,624

12,787

6.6

29s

124,274

7.1

7.1