Annual Report of the Federal Reserve Board, 1926

THIRTEENTH ANNUAL REPORT OF THE FEDERAL RESERVE BOARD COVERING OPERATIONS FOR THE YEAR 1926 UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON 1927 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS Page PART I. Text of report, principal tables, and charts 1-222 PART II. Statistics for individual Federal reserve districts 223-480 Appendix 481-567 PART I TEXT OF REPORT Business and credit conditions in 1926 1 Federal reserve credit policy 3 Relations with member banks 3 Member bank credit 6 Bank suspensions 10 Relations with foreign central banks 14 Gold imports and dollar balances 14 OPERATIONS OF THE FEDERAL RESERVE SYSTEM Federal reserve bank credit in 1926 16 Earnings and expenses and volume of work of Federal reserve banks 18 Branches and agencies of Federal reserve banks 22 Building operations of Federal reserve banks 22 Changes in membership of Federal reserve system 23 Banks on par list 25 Check clearing and collection 25 Trust powers of national banks 27 Administration of the Clayton Act 28 Use of words "Federal" and "reserve" in the title of banks 29 Notes secured by adjusted-service certificates 29 Meetings of the Federal Advisory Council 30 Conferences held by the Federal Reserve Board 30 Board's organization, staff, and expenditures 30 PRINCIPAL TABLES AND CHARTS FEDERAL RESERVE BANK RATES: No. 1. Discount rates—Changes from January 1, 1922, to December 31, 1926 32 No. 2. Average rates charged by Federal reserve banks on bills discounted 33 No. 3. Average rates of earnings on discounted bills held by the Federal reserve banks 34 No. 4. Open-market rates—Average rates charged by Federal reserve banks on bills bought in open market 35 No. 5. Average rates of earnings on bills bought in open market and from other Federal reserve banks 36 No. 6. Average rates of earnings on bills discounted and on bills purchased by each Federal reserve bank, 1916-1926 37 in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

IV CONTENTS FEDERAL RESERVE BANK RATES—Continued. Page No. 7. Average rates of earnings on United States securities held by the Federal reserve banks 38 i>o. 8. Average rates of earnings on total bills and securities and on municipal warrants, Federal intermediate credit bank debentures, and foreign loans on gold held by the Federal reserve banks 39 CONDITION OF FEDERAL RESERVE BANKS: No. 9. Bills and securities held by all Federal reserve banks combined, 1914-1926 40 No. 10. Reserves, deposits, and note circulation of all Federal reserve banks combined, 1914-1926 43 No. 11. Resources and liabilities of all Federal reserve banks combined at the end of each month, December, 1925-December, 1926 46 No. 12. Resources and liabilities of all Federal reserve banks combined, by weeks, during 1926 48 No. 13. Resources and liabilities of all Federal reserve banks combined on December 31, 1926, as published weekly and as shown in detail on balance sheets 52 No. 14. Cash reserves, deposits, Federal reserve note circulation, and reserve percentages—Daily averages for all Federal reserve banks combined, by months, 1921-1926 54 No. 15. Bills and securities—iVverage daily holdings of all Federal reserve banks combined, by classes and months, 1921- 1926 _" _-. 55 No. 16. Bills and securities—Average daily holdings of all classes combined, by banks and months 56 Discounted bills— No. 17. Average daily holdings of each Federal reserve bank, by months 57 No. 18. Holdings of each Federal reserve bank on December 31, 1926, by classes 58 No. 19. Holdings of all Federal reserve banks combined at the end of each month, by classes 58 No. 20. Holdings of each Federal reserve bank on December 29, 1926, by maturities 59 No. 21. Holdings of all Federal reserve banks combined on the last report day of each month, by maturities 59 Bills bought in open market (bankers' and trade acceptances)— No. 22. Average daily holdings of each Federal reserve bank, by months 60 No. 23. Holdings of each Federal reserve bank on December 31, 1926, by classes 61 No. 24. Holdings of all Federal reserve banks combined at the end of each month during 1926, by classes 61 No. 25. Holdings of each Federal reserve bank on December 29, 1926, by maturities 62 No. 26. Holdings of all Federal reserve banks combined on the last report date in each month, by maturities 62 United States securities— No. 27. Average daily holdings of each Federal reserve bank, by months 63 No. 28. Holdings of each Federal reserve bank on December 31, 1926, by classes 64 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS V Page FEDERAL RESERVE BANK CHARTS 65-77 FEDERAL RESERVE NOTES: No. 29. Federal reserve agents' accounts at the end of 1925 and 1926_ 78 No. 30. Issued to banks, and collateral (gold and eligible paper) pledged with Federal reserve agents as security for Federal reserve notes issued to Federal reserve banks—Weekly figures for all Federal reserve banks combined 79 No. 31. Issued to Federal reserve banks by Federal reserve agents, held by issuing banks, and in actual circulation; also gold and eligible paper held by agents as security for notes issued to banks—Monthly figures for each Federal reserve bank "_ 80 No. 32. Issued and retired by each Federal reserve agent, by months. 82 No. 33. Issued and retired by all Federal reserve agents combined and amounts outstanding, 1914-1926, by denominations-- 84 DISCOUNT AND OPEN-MARKET OPERATIONS: Total volume—All classes— No. 34. For each Federal reserve bank during 1926, by classes-_ 85 No. 35. For all Federal reserve banks combined, by months and classes 86 No. 36. For each Federal reserve bank, by months 87 Bills discounted— No. 37. Volume discounted by each Federal reserve bank, by months- 88 No. 38. Number of banks in each district accommodated through discount operations, by months 89 No. 39. Volume, by States, also number of member banks in each State and number accommodated through discount operations 90 No. 40. Volume discounted for national banks and for State bank members 92 No. 41. Volume discounted by each Federal reserve bank, by maturities and rates of discount charged 93 No. 42. Volume discounted by all Federal reserve banks combined, by months and by maturities and rates of discount charged 94 No. 43. Average maturity of bills discounted 95 No. 44. Bills secured by United States Government obligations, discounted by Federal reserve banks 96 No. 45. Average rates charged by member banks on customers' paper rediscounted with Federal reserve banks 97 No. 46. Trade acceptances discounted 100 Bills bought in open market—Bankers' and trade acceptances— No. 47. Purchased by each Federal reserve bank, by months 101 No. 48. Purchased by each Federal reserve bank, by classes 102 No. 49. Purchased by all Federal reserve banks combined, by months and classes 103 No. 50. Purchased by each Federal reserve bank from member banks and from nonmember banks and dealers 104 No. 51. Purchased by all Federal reserve banks combined, by months and by rates of discount charged 104 No. 52. Average maturit}7 of bills purchased 105 No. 53. Purchased by each Federal reserve bank, by maturities. 106 No. 54. Purchased by all Federal reserve banks combined, by months and maturities 106 No. 55. Commodity classification of bills purchased 107 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

VI CONTENTS DISCOUNT AND OPEN-MARKET OPERATIONS—Continued. United States securities— Page No. 56. Total volume of all classes purchased by each Federal reserve bank 112 No. 57. United States bonds purchased by Federal reserve banks. 113 No. 58. United States Treasury notes purchased by Federal reserve banks 114 No. 59. United States certificates of indebtedness purchased by Federal reserve banks 115 No. 60. Special temporary certificates of indebtedness issued to Federal reserve banks by the Secretary of the Treasury 116 GOLD SETTLEMENT FUND: No. 61. Summary of transactions of each Federal reserve bank 117 No. 62. Clearings and transfers of all Federal reserve banks combined, by weeks during 1926 118 FEDERAL RESERVE AGENTS' GOLD FUND: No. 63. Summary of transactions of each Federal reserve agent 119 MEMBERSHIP IN PAR COLLECTION SYSTEM: No. 64. Number of banks on par list and not on par list, by districts- _ 120 No. 65. Member banks and nonmember banks on par list and nonmember banks not on par list: Number in each State on December 31 122 CLEARING OPERATIONS: No. 66. Operations of the Federal reserve clearing system 123 OPERATIONS OF BRANCHES: No. 67. Volume of operations of each Federal reserve branch bank__ 124 EARNINGS AND EXPENSES: No. 68. Earnings and expenses of each Federal reserve bank during 1926 126 No. 69. Gross and net earnings of each Federal reserve bank, also disposition made of net earnings, 1914-1926 128 BANK PREMISES: No. 70. Cost of bank premises of Federal reserve banks and branches. 132 CONDITION OF MEMBER AND NONMEMBER BANKS: All banks in the United States— No. 71. Resources and liabilities, 1914-1926 134 No. 72. Loans and investments on call dates, by Federal reserve districts, 1923-1926 135 No. 73. Total loans and investments, by States, 1923-1926 139 No. 74. Total loans, by States, 1923-1926 140 No. 75. Investments, by States, 1923-1926 141 All member banks— No. 76. Principal resources and liabilities on call dates, 1914- 1926 142 No. 77. National banks—Principal resources and liabilities on call dates, 1914-1926 144 No. 78. State bank members—Principal resources and liabilities on call dates, 1914-1926 146 No. 79. Resources and liabilities, by class of member 148 No. 80. Resources and liabilities, by class of bank 149 No. 81. Classification of loans on June 30, 1925 and 1926 150 ^T~ co. Classification of securities on June 30, 1925 and 1926._> 151 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS VII CONDITION OF MEMBER AND NONMEMBER BANKS—Continued. All member banks—Continued. Page No. 83. Total loans and investments, by States, 1923-1926 152 No. 84. Total loans, by States, 1923-1926 154 No. 85. Investments, by States, 1923-1926 156 No. 86. Net demand and time deposits, by size of city 158 No. 87. Member bank reserve balances and borrowings at Federal reserve banks 159 Reporting member banks in leading cities— No. 88. Principal resources and liabilities during 1926, by weeks. 160 No. 89. Banks in New York City—Principal resources and liabilities during 1926, by weeks 162 No. 90. Banks outside of New York City—Principal resources and liabilities during 1926, by weeks 163 No. 91. Principal resources and liabilities, by months, 1922-1926- 164 No. 92. Banks outside of New York City—Principal resources and liabilities, by months, 1922-1926 166 REPORTING MEMBER BANK CHARTS 168-180 BANK DEBITS: No. 93. Debits to individual accounts as reported by banks in 141 principal cities—Summary, by months, 1920-1926 181 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS: No. 94. All member banks: Earnings, expenses, and dividends, 1919- 1926 •„ 182 No. 95. National banks: Earnings, expenses, and dividends, 1919- 1926 184 No. 96. State bank members: Earnings, expenses, and dividends, 1919-1926 186 CHANGES IN MEMBERSHIP IN FEDERAL RESERVE SYSTEM: No. 97. Changes in membership in the Federal reserve system, by districts, during 1926 188 BANK SUSPENSIONS: No. 98. Bank suspensions, 1921-1926: Number, capital, and deposits, by classes of banks 190 No. 99. Bank suspensions, 1921-1926: Classified according to capital stock 195 No. 100. Bank suspensions during 1926: By size of city 196 GOLD IMPORTS AND EXPORTS: No. 101. Gold imports into and exports from the United States, by years, 1914-1926 197 No. 102. Gold imports into and exports from the United States, by countries, 1923-1926 197 No. 103. Gold imports into and exports from the United States, by months, 1919-1926 198 MONEY IN CIRCULATION: No. 104. Money in circulation during 1926, by kinds of money 199 No. 105. Money in circulation by months, 1914-1926 199 No. 106. Money in circulation, monthly averages, 1922-1926 199 MONEY RATES IN NEW YORK CITY: No. 107. Open-market money rates in New York City during 1926, by weeks 200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

VIII CONTENTS Fas* FEDERAL RESERVE BOARD INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE: No. 108. Indexes of production, 1919-1926 201 No. 109. Index of production of manufactures, by groups, 1919-1926. 202 No. 110. Index of production of minerals, by products, 1919-1926 204 No. 111. Indexes of employment, building, and trade, 1926 206 FOREIGN EXCHANGE RATES: No. 112. Exchange rates on foreign countries, yearly averages, 1919- 1926 207 No. 113. Exchange rates on principal foreign countries, by months, 1922-1926 208 CONDITION OP CENTRAL BANKS IN FOREIGN COUNTRIES: No. 114. Central banks in foreign countries—Principal resources and liabilities, by months— Bank of England, 1922-1926 209 Bank of France, 1922-1926 210 German Reichsbank, 1924-1926 211 Bank of Italy, 1922-1926 212 Bank of Japan, 1922-1926 . 213 Netherlands Bank, 1922-1926 214 Bank of Sweden, 1922-1926 215 National Bank of Switzerland, 1922-1926 216 DISCOUNT RATES OP CENTRAL BANKS: No. 115. Changes in central bank discount rates, 1922-1926 217 MONEY RATES IN FOREIGN COUNTRIES: No. 116. Open-market rates in foreign countries, 1924-1926 218 GOLD IMPORTS AND EXPORTS OP FOREIGN COUNTRIES: No. 117. Gold imports and exports of foreign countries, 1925-1926.. 219 GOLD HOLDINGS OF PRINCIPAL COUNTRIES: No. 118. Gold holdings of central banks and Governments, 1913— 1926 -. 220 PRICE MOVEMENTS IN PRINCIPAL COUNTRIES: No. 119. Index numbers of wholesale prices, 1922-1926 222 PART II STATISTICS FOR INDIVIDUAL FEDERAL RESERVE DISTRICTS District No. 1—Boston 225 District No. 2—New York 244 District No. 3—Philadelphia 272 District No. 4—Cleveland 291 District No. 5—Richmond.. 311 District No. 6—Atlanta 330 District No. 7—Chicago 353 District No. 8—St. Louis 378 District No. 9—Minneapolis 397 District No. 10—Kansas City 415 District No. 11—Dallas 438 District No. 12—San Francisco 457 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS IX APPENDIX Page Recommendations of the Federal Advisory Council to the Federal Reserve Board 483 Regulations of the Federal Reserve Board: Regulation M—Rediscount of notes secured by adjusted service certificates 489 Change in Federal reserve district boundaries 492 Directory of the Federal Reserve Board 493 Salaries of officers and employees of the Federal Reserve Board 493 Receipts and disbursements of the Federal Reserve Board 496 Salaries of national bank examiners 499 Directory of the Federal Advisory Council 501 Governors and directors of Federal reserve banks 501 Salaries of officers and employees of Federal reserve banks 509 List of State bank and trust company members 513 Summary classification according to capital stock 536 Fiduciary powers granted to national banks 538 Banks authorized to accept bills up to 100 per cent of capital and surplus,- 558 Description of Federal reserve districts 561 Map of Federal reserve districts 567 38494—27 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PARTI TEXT OF REPORT, PRINCIPAL TABLES, AND CHARTS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

THE FEDERAL RESERVE BOARD DECEMBER 31, 1926 EX OFFICIO MEMBERS D. R. CRISSINGER, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, ADOLPH C. MILLER. Secretary of the Treasury, Chairman. CHARLES S. HAMLIN. J. W. MCINTOSH, GEORGE R. JAMES. Comptroller of the Currency. EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. WALTER WYATT, General Counsel. J. C. NOELL, Assistant Secretary. W. M. IMLAY, Fiscal Agent. E. M. MCCLELLAND, E. A. GOLDENWEISER, Assistant Secretary. Acting Director, Division of Research J. F. HERSON, and Statistics. Chief, Division of Examination and E. L. SMEAD, Chief Federal Reserve Examiner. Chief, Division of Bank Operation* XII Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL BESEBVB BOARD WASHINGTON, February 17, 1927. SIR: Niileteen hundred and twenty-six, the year covered by this, the Thirteenth Annual Report of the Federal Reserve Board, was a year of exceptionally large output by the country's factories, mines, and farms; of orderly distribution of commodities through the channels of trade; of declining price level, and of sustained demand for merchandise by consumers. The large volume of business activity was accompanied by a gradual rise of bank credit outstanding to the highest level on record, an increased flow of savings into investment channels, a continuous decline in long-time money rates, and a stable and relatively easy condition in the short-term money market. BUSINESS AND CREDIT CONDITIONS IN 1926 Business conditions in 1926 were characterized by unusual stability. Industry continued active during the year and new high levels were reached in many lines of enterprise. The physical output of industry was larger in 1926 than in any previous year; there was practically no unemployment, and total wage payments of factories were well maintained. During the early months of the year industries were generally very active, but in the spring there appeared to be some hesitation in the business community and a temporary recession in certain lines of production, particularly in textiles, but also in iron and steel. This did not continue, however, and by midsummer industrial activity was once more proceeding at a rapid rate. Building construction, which for several years had been exceptionally active, continued in large volume, and for the year as a whole was larger than for any previous year. Crop yields were generally large, though the production of grains in the spring-wheat area was considerably less than in 1925, owing to drought in the early spring, and the yield and quality of corn was curtailed by drought in some States during the summer months and by a period of cold and rainy weather in the autumn. The cotton crop in 1926, of more than. 18,000,000 bales, was the largest on record This large crop, coming at a time of a considerable carry-over from the year before, occasioned a further decline of the price of cotton to a level at which the total value oi the larger crop in 1926 fell considerably below that of the smaller crops of other recent years. Smaller returns received by farmers in the Cotton Belt and in some spring-wheat States resulted in a decrease of buying power for the agricultural population of these districts, and this decrease was a factor accounting for the somewhat smaller volume of business activity in the later months of the year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

2, ANNUAL REPORT OF THE FEDERAL RESERVE BOARD In the autumn months the output of automobiles, which had been in large volume throughout the year, was curtailed, and there was some decline also in iron and steel production. For the year as a whole, however, the number of automobiles produced was the largest on record, and activity in this industry and in building construction in large measure sustained the demand for the output of othep industries. Distribution of commodities by the railroads was in large volume, and the movement of goods through the channels of wholesale and retail trade was orderly and was sustained by a continuous demand for commodities by the consumers. There was no evidence of accumulation of stocks of merchandise by merchants, and inventories held by producers also were kept at a fairly constant level. Stocks of certain raw materials, however, particularly of cotton and rubber, increased and were large at the close of the year. An important influence making for orderly marketing without accumulation of stocks and for a sustained volume of buying by consumers during the year was the continuous decline in the level of commodity prices to a point 6 per cent lower in December, 1926, than a year before. This decline in prices during a year of exceptionally active business, which is an outstanding characteristic of 1926, was general for nearly all groups of commodities, but was greater for agricultural than for industrial products. Of the groups of commodities shown by the Bureau of Labor Statistics all, except fuel, declined during 1926, and the general index for all commodities at the close of the year was lower than at any time since the middle of 1924. Active business during 1926 was accompanied by an increasing demand for bank loans to finance the current requirements of industry, agriculture, and trade. Loans for commercial purposes by banks in leading cities consequently increased considerably during the year. The banks7 loans on securities declined somewhat, and their investments increased by nearly the same amount, so that the increase in commerical loans for the year accounted for the entire growth in member bank credit outstanding, a growth that was not as large in 1926 as in any of the four preceding years. Investment funds were abundant during the year, arising out of the savings of the people and the large earnings of corporations, and capital issues were in larger volume and were issued at lower rates than in any other year since the war. Short-term money rates, on the other hand, were somewhat higher during the larger part of the year than during 1925, but at the end of the year open-market rates on commercial paper and on acceptances were at about the same level as a year earlier. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 3 FEDERAL RESERVE CREDIT POLICY Federal reserve credit policy in 1926 was formulated with reference to the business and credit conditions that prevailed during the year, as briefly described in the preceding section of this report. The principal characteristics of the year as indicated were an active condition of business, with marketing proceeding in an orderly manner under a declining level of prices, and with bank credit showing a relatively small growth. In these circumstances discount rates at 11 of the Federal reserve banks were continued without change at the 4 per cent level. At the 7 reserve banks in the South and West (except at San Francisco) this rate, which was the lowest in effect at those banks since 1917, had prevailed since the reduction to the 4 per cent level in 1924. At the reserve banks of Boston, Philadelphia, Cleveland, and San Francisco, where the rate during the period of easy money in 1924 had been lowered to 3 x/i per cent, advances to the 4 per cent level had been made in the autumn of 1925. The rate at the Federal Reserve Bank of New York, which had been reduced to 3 per cent in 1924, and advanced to Zx/i per cent in February, 1925, was raised to 4 per cent on January 8, 1926, completing the series of advances that had begun in the preceding November and had carried the rate at all the reserve banks to a uniform 4 per cent level. On April 23 the rate at the New York bank was reduced from 4 to 3 J^ per cent at a time when there was a large volume of liquidation of bank loans in New York City, a decline in openmarket money rates, and an apparent slowing down in some lines of business activity; and in midsummer, when there was a rapid growth in security loans, an advance in money rates in the open market, and an increase in the volume of reserve bank credit outstanding, the rate was restored to 4 per cent, effective August 13. The reduction in the discount rate in the spring was supported by the purchase by the reserve system of $65,000,000 of United States securities in the open market, and the advance in August was followed by a gradual reduction of $75,000,000 in the system's open-market investment account. Thus the credit policy of the reserve system in 1926, a year of stable conditions in business and in credit, was to maintain the discount rates at the reserve banks unchanged at 4 per cent, except for adjustments at the New York bank, and to continue the system's openmarket investments, with relatively small fluctuations, near the level prevailing at the opening of the year. RELATIONS WITH MEMBER BANKS Discount and open-market policies of the reserve banks, which are formulated primarily with a view to influencing the cost and the volume of reserve bank credit in use, are the principal elements in the Digitized fors FyRstAeSmER's general credit policy in relation to general banking and http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

4 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD credit conditions. In their relations with individual member banks, however, the reserve banks are constantly dealing with a large number of problems not involving rates or market policies, and, on the basis of experience, progress has been made in 1926 in the formulation of certain principles of procedure in what may be called the individual bank credit policy of the reserve banks. In general, the basis of credit to be extended by a reserve bank to its member banks is defined in section 4 of the Federal reserve act, which states that the board of directors of a reserve bank shall " extend to each member bank such discounts, advancements, and accommodations as may be safely and reasonably made with due regard for the claims and demands of other member banks." This statement in the basic law of the Federal reserve system underlies to a large extent the policy of the reserve banks and their attitude in individual cases toward extending credit to the member banks. The principle set forth in the act goes beyond the question of the technical eligibility and even of the intrinsic soundness of paper offered by a member bank to a reserve bank. Even where the paper is unexceptionable in every respect, the reserve bank must be fully assured in addition that further credit may be granted to this member, not only "safely and reasonably," but also "with due regard for the claims and demands of other member banks." This question arises not infrequently in cases where a member bank remains continuously in debt to a reserve bank for a considerable length of time. In such cases inquiry may fairly be made as to whether the member bank's use of reserve bank credit does not in effect amount to increasing its own capital out of reserve bank funds. Such use of funds arising from a cooperative pooling of bank reserves, which is the basis of the Federal reserve banks' lending power, would not be in accordance with the spirit of the Federal reserve act and would not be fair to the other member banks which may be active competitors of the borrowing bank. It may also impair the ability of the borrowing bank in case of insolvency to meet its obligations to depositors. Though there are circumstances that may explain and justify continuous borrowing by a member bank over a considerable period of time, particularly if the need for the borrowing arises from general economic conditions in the borrowing bank's locality, the funds of the Federal reserve banks are primarily intended to be used in meeting the seasonal and temporary requirements of members, and continuous borrowing by a member bank as a general practice would not be consistent with the intent of the Federal reserve act. In most cases the member bank can make adjustments of different kinds in its own affairs, which will enable it to repay its borrowings at the reserve bank and at the same time to strengthen its own position. The bank may find it advisable, for example, to increase its own capital or to bring about a better adjustment of the volume Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPOKT OF THE FEDERAL RESEKVE BOARD 5 and maturities of its investments to the credit requirements of its local customers. In consequence of the cooperation between reserve banks and member banks in working out the problems of continuous borrowers, there has been a gradual decline in the number of member banks continuously in debt at the reserve banks. The following table shows, for quarterly dates of the past four years, the number of member banks that have been borrowers continuously for a month or more at a reserve bank in an amount exceeding the borrower's capital and surplus. Particular significance attaches to borrowings in excess of capital and surplus, because prior to the establishment of the Federal reserve system national banks were not permitted by law, with certain exceptions, to borrow in excess of their own capital resources. Thus member banks that are borrowing in excess of that amount have been enabled to do so by provisions of the Federal reserve act, and the system, therefore, has a special interest in observing the extent to which this privilege is utilized. NUMBER OF MEMBER BANKS BORROWING IN EXCESS OF CAPITAL AND SURPLUS CONTINUOUSLY FOR A MONTH OR MORE Year March June September December 1923 0) 543 357 1924 431 364 179 1925 140 218 202 133. 1926 111 193 198 113 1 Not available. The proportion which continuous borrowing constitutes of total borrowing at the reserve banks also has declined. During 1924 about 15 per cent of the total volume of member bank borrowing at the reserve banks represented indebtedness continuously for a month or more in excess of the borrowing banks' capital and surplus, while during 1926 this proportion was 5 per cent. In using their influence to discourage member banks from making continuous use of the lending facilities of the reserve banks, the operating officials of the reserve banks are not only protecting the resources of the Federal reserve system as a whole, but are also helping individual member banks to conserve their capacity to borrow at the reserve bank at times when adverse economic conditions in their localities and among their customers may make additional dependence upon the resources of the reserve system not only justifiable but necessary. In this manner the reserve banks are not only discharging their responsibility to the member banks under the act, but are also exerting their influence toward sounder general banking conditions in the interests alike of the member banks, their depositors, and the public. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MEMBER BANK CREDIT Member bank credit outstanding increased during 1926, though at a slower rate than in any of the four preceding years. The growth of member bank credit in 1926 was largely a growth in loans, as investment holdings of the banks showed relatively little change for the year. The increase was, furthermore, as indicated by reports for member banks in leading cities, entirely in loans other than security loans. These other loans, often referred to as loans for oommerical, industrial, and agricultural purposes, increased by a larger amount during the past year than in either 1925 or 1924. To what extent the growth in bank loans other than security loans represents loans for the purpose of financing the current operations of industry and trade can not, however, be determined. In view of the large volume of building construction and of transactions in real estate in 1926, it is probable that at least a part of the growth in so-called commercial loans was to meet the demand for credit arising from these sources. For all member banks the total amount of loans on real estate on June 30, 1926, was $2,650,000,000, or 12 per cent of their total loans, and 18 per cent of their loans other than loans on securities. The growth in real-estate loans of national banks, for which data are available for a series of years, has been rapid. It would appear, therefore, that the growth in so-called commercial loans has not been .entirely the result of changes in the credit requirements of trade and industry. An influence in reducing these requirements throughout the year was the continuous decline in the price level, as a result of which a given physical volume of business could be transacted with the use of a smaller volume of bank credit. Furthermore, owing to the decline in prices, inventories of merchandise and stocks of industrial commodities and of raw materials declined in aggregate value, notwithstanding increases in the physical volume of stocks of certain commodities, particularly cotton. The growth in member bank credit in 1926, therefore, though it was not in holdings of securities or in loans on securities, was not entirely in response to current requirements of trade and industry, but included an element of growth of credit for longer term purposes, and particularly for the financing of building operations and real-estate transactions. Growth of member bank credit in 1926 represented an increase in loans other than security loans and was in this respect in contrast to developments in 1925, when a large proportion of the growth was in loans on securities, and in 1924, when there was a rapid growth both in investments and in loans on securities. The growth in investments and loans on securities, which was characteristic of the two years preceding 1926, was in line with the general trend of banking developments in other recent years. Since the middle of 1915 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD loans and investments of all the banks in the country have increased by over $30,000,000,000, and about one-third of this increase or about $10,000,000,000, was in the banks' holdings of investments. These holdings constituted 30 per cent of total loans and investments in the middle of 1926, compared with 27 per cent 11 years earlier. At national banks, which constitute the larger part of the system's membership, there has also been a marked tendency in recent years to use an increasing proportion of their resources in long-term investments. Between the end of June, 1915, and the end of June, 1926, investments of national banks increased from $2,068,000,000 to $5,842,000,000 and their proportion of the banks' total loans and investments from 24 per cent to 30 per cent. At the same time loans on securities also increased rapidly, and loans on real estate rose from $150,000,000 to $725,000,000, while other loans, though they also increased in absolute amount, declined relatively from 56 per cent to 45 per cent of the banks' total loans and investments. This increased use of bank funds in longer term enterprises, which has continued for a number of years, has been particularly pronounced in the recent five-year period of growth of bank credit beginning in the spring of 1922. The following table shows the composition of the earning assets of reporting member banks in leading cities in the spring of 1922 and at the end of 1926: MEMBER BANKS IN LEADING CITIES [In millions of dollars] Per cent of total Total i m n l a o v e n a e n d n s t s t s - s L e o c a u n ri s t i o e n s Al l l o o an th s er I m nv e e n s t t s - s L e o c a u n ri s t i o e n s Al l l o o an th s er I m nv e e n s t t s - L ti s i o e n e a s v c n u p e s r s l i u o t - - n s ments Mar. 8, 1922 14, 527 3,530 7,366 3,631 24.3 50.7 25.0 49.3 Dec. 29, 1926... 20,110 5,852 8,717 5,541 29.1 43.3 27.6 56.7 Percentage of increase 38.4 65.8 18.3 52.8 During this period of nearly five years the proportion of loans and investments of member banks in leading cities that was in securities and in loans on securities increased from 49 to 57 per cent. The largest growth, both absolutely and relatively, was in security loans, which increased by about 66 per cent during the period. That this growth in loans on securities represents to a considerable extent an increased volume of credit used in financing transactions in securities at the New York Stock Exchange is indicated by the rapid growth during the period of loans to brokers and dealers in securities in the New York market.1 Security loans other than 1 Figures showing the amount of such loans have become available in the course of 1926 and are published on p. 264. Figures for earlier years were published in the Federal Reserve Bulletin for November, 1926, and are given on p. 267 of this report. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD brokers7 loans in the New York market have also increased, however, and the increase in these other collateral loans represents to some extent the result of a growing practice among commercial and industrial borrowers of obtaining accommodation at their banks for current requirements by means of loans secured by stocks or bonds. While no statistics of the volume of this class of loans are available^ there is evidence indicating that the practice is not uncommon, and that at least a part of the growth in security loans has represented commercial loans, with securities as collateral. All other loans, asreported by the member banks in leading cities, showed a much slower rate of growth during the five-year period than did security loans, the percentage of increase being 18 per cent, compared with 66 per cent for security loans, and while the proportion of total loans and investments of the reporting member banks in security loans increased from 24 per cent in 1922 to 29 per cent in 1926, the proportion in all other loans declined from 51 per cent to 43 per cent during the period. The change noted in the composition of the loans and investments of member banks has been accompanied by a corresponding change in the character of their deposits. Since 1922 net demand deposits of reporting member banks have increased by 27 per cent, while their time deposits have increased by 93 per cent, and the proportion of time deposits to the total of time and net demand deposits combined has increased from 23 to 31 per cent. This more rapid growth of time deposits at member banks since the organization of the Federal reserve system has accompanied the general growth in the country's savings of all kinds. To some extent, however, it represents merely a transfer from demand to time deposits caused by the lower percentage of reserves required against time deposits and the greater efforts made by member banks to encourage savings accounts. To a considerable extent this growth has been due to the increase in the proportion of total time deposits of all banks that is handled by themember banks. The growth in the deposits of mutual savings banks since 1914 has not been nearly so rapid as the growth of time deposits of member banks, and a large proportion of the total increase in time deposits in the country as a whole since the organization of the Federal reserve system has been in the deposits of member banks, both national and nonnational. Looking at the developments in the condition of member banks as a whole in recent years, the outstanding changes have thus been in the direction of a larger proportion of long-term investments and of loans on securities and of a corresponding increase in the proportion of time deposits, as compared with deposits payable on demand. From the point of view of the Federal reserve system, an important outcome of these developments in the character of the business of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 9 member banks has been a decrease in the proportion of the banks' assets that are eligible for rediscount with the Federal reserve banks. Of the total loans and investments of all member banks on June 30, 1926, 16 per cent was eligible for rediscount at the reserve banks, and this proportion was 18 per cent for national banks and about 12 per cent for nonnational member banks. For national banks this ratio is available for a series of years and is presented in the following table: ELIGIBLE PAPER HELD BY NATIONAL BANKS [Amounts in millions of dollars] Paper eligible for rediscount Total loans End of June1 and investments Percent of Amount loans and investments 1918 14,129 3,218 22.8 1919 16,074 3,551 22.1 1920 17,817 4,320 24.2 1923 16,891 3,563 21.1 1924 17,123 3,542 20.7 1925 18, 405 3,412 18.5 1926- -. 19, 260 3,497 18.2 1 No data on eligible paper available for 1921 and 1922. The decline in the proportion of eligible paper has been continuous and considerable and has been due chiefly to the relatively more rapid growth of holdings of investments and of loans on securities. An additional factor in this decline has been the decrease in the volume of loans secured by United States obligations, which are eligible for rediscount regardless of the purpose for which the loan was made. With the reduction of the public debt and the absorption of United States securities by permanent investors, the volume of borrowing on such securities has declined, and this has proportionally reduced the amount of paper eligible for rediscount. The total volume of eligible paper in the hands of member banks on June 30,1926, was about $4,900,000,000 and, in addition, the banks held $2,850,000,000 of United States obligations available as security for borrowing at the reserve banks on collateral notes, so that the aggregate amount of borrowing from the reserve banks possible for the member banks on the basis of their present assets is more than $7,500,000,000. This amount is about ten times as large as total borrowings from the reserve banks at any time in the past five years and more than two and one-half times as large as total discounts at their maximum in November, 1920. It would appear, therefore, that the amount of eligible paper and securities in the hands of member banks is sufficient in the aggregate to meet all the demands that are likely to arise, though there may be individual banks, or groups of banks in certain communities, with an inadequate supply of such Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

10 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD paper. The principal consideration for the board, however, is not the possibility of a shortage of eligible paper, but the well-defined tendency toward a continuous decrease in the proportion of such paper, which is indicative of a gradual change in the character of the operations of the member banks. Another phase of this change in the operations of member banks arises from the fact, already mentioned, that time deposits have been increasing much more rapidly than demand deposits. Since legal reserve requirements against time deposits are 3 per cent, while against net demand deposits they range from 7 to 13 per cent, the increase in the proportion of time deposits has had the effect of decreasing the average amount of reserves carried by member banks against their deposit liabilities. Thus, while in March, 1922, the ratio of reserve balances at the reserve banks to total net demand plus time deposits was 8.1 per cent, at the end of 1926 this ratio had declined to 7.3 per cent. This decline in ratio means that member banks were able to comply with legal reserve requirements with a considerably smaller amount of reserves than would have been necessary had the proportion of time to demand deposits remained unchanged, or, to put it - in another way, to add a large amount to their loans and investments without a corresponding increase in their reserves. As a matter of fact, reserve balances of member banks have not increased since the end of 1924, while there has been since that time a growth of about $2,900,000,000 in the total amount of credit extended by these banks. The changing character of the business of member banks in recent years has thus been characterized by an increased use of their resources in long-time investments and in loans not arising out of the current requirements of trade and industry, and by an increase in the proportion of their liabilities in the form of time deposits. This is a development which, though it may in some cases result in strengthening the position of individual member banks, represents a departure from the original conception of the Federal reserve banking system as of a cooperative undertaking among commercial banks engaged primarily in the financing of the current operations of productive industry and trade. As long-time trends these changes in the character of the business of the member banks are significant both because they tend to decrease the proportion of short-term, self-liquidating paper in the assets of member banks and because they result in relatively smaller reserve holdings against the deposits of these banks. BANK SUSPENSIONS While the general banking and credit situation during the past year was characterized by stability, and underlying conditions, taking the banking structure as a whole, were sound, there were sections of the country where many banks encountered difficulties during the year. The number of bank suspensions in 1926, including all classes Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD 11 of banks, was 956 with deposits of nearly $275,000,000, compared with 612 suspensions, with deposits of about $175,000,000 in 1925, and 777 suspensions, with deposits of about $215,000,000 in 1924. The following table shows the number of bank suspensions and the deposits of suspended banks for the past three years, grouped by class of bank: BANK SUSPENSIONS, 1924 TO 1926 Deposits (in thousands of Number dollars) Class of bank 1926 1925 1924 1926 1925 1924 All banks 956 612 777 272,488 172,900 213,444 Nonmember banks 796 466 618 203, 676 105, 636 138,975 Member banks—total __ __ 160 146 159 68,812 67,264 74,469 National 125 118 122 47,866 58, 537 60,889 State _ 35 28 37 20,946 8,727 13,580 During 1926, 147 banks which had previously suspended—for the most part within the year—were reported to have resumed operations. Of these banks, which had aggregate deposits of about $60,000,000 at the time of suspension, 14, with deposits of $8,000,000, were members of the Federal reserve system and 133, with deposits of $52,000,000, were nonmember banks. The banks that suspended during the past three years were for the most part nonmember banks. Among member banks, which constitute about one-third of the total number of banks in the country and have about two-thirds of the aggregate deposits of all banks, 160 banks, with deposits of $68,812,000, suspended in 1926, representing about one-sixth of the number and one-fourth of the aggregate deposits of all banks that suspended during the year. Suspensions of member banks were slightly more numerous in 1926 than in 1925, but the increase in the total number of closed banks was accounted for chiefly by suspensions of nonmember banks, which numbered 796 for the year, with deposits of $203,676,000, as against 466 suspensions, with deposits of $105,636,000, in 1925. Bank suspensions during the year were chiefly in agricultural sections of the country and for the most part in Iowa, South Dakota, Minnesota, North Dakota, Missouri, Kansas, Michigan, Texas, Oklahoma, Georgia, South Carolina, and Florida. These 12 States accounted for about 80 per cent of the total number of suspensions in the past year. Analysis of the bank failures during the year indicates that the causes of the failures were for the most part not in current developments in 1926, but dated back to conditions that have existed for a long time and to developments of the past six or seven years. One fundamental cause of bank failure has been that in many communities, and Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

12 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD especially in small communities, there were more banks than could profitably engage in the local banking business, and that many of these banks had insufficient capital. The following table brings out the fact that of the banks that failed in 1926 nearly two-thirds were banks with a capital of $25,000 or less, situated in towns of less than 1,000 inhabitants: BANK SUSPENSIONS IN 1926, CLASSIFIED ACCORDING TO CAPITAL STOCK AND ACCORDING TO POPULATION OF PLACE IN WHICH LOCATED Banks with capital of— N p u e s n m u d s b - e e d r P su e o s r s i f o p c a n e e l s n l n - t Banks p lo o c p a u te la d t i i o n n p o l f a — ces with N pe u su n m s d - b ed er P su e o s r s i f o p c a n e e l s n l n - t Less than $25,000.. 384 40 j Less than 500.. 372 39 $25,000.. ._. 230 24 I 500-999 204 21 $25,001-$49,999 100 10 ! 1,000-1,499 115 12 $50,000-$99,999 164 17 11 1,500-2,499 88 9 $100,000-$199,999... 46 5 || 2,500 and over.. 177 19 $200,000^$600,000... 16 Not available 16 Total. 956 100 Total . 956 100 Some small banks in small communities have found it difficult to make adequate earnings by conducting their business along strictly conservative lines, and have not been able to afford the expense of engaging skillful and experienced managers. The volume of business done by small banks in rural communities, furthermore, has diminished in recent years, as the result of improvement in roads and the widespread use of automobiles, which has led many bank customers to prefer to drive to the county seat or other near-by center and to use the facilities of the larger banks in these towns. That failed banks are generally the smaller banks is brought out also by a comparison of the average capital and the average deposits of the banks that have failed in 1926, with corresponding averages for all banks. AVERAGE SIZE OF SUSPENDED BANKS, 1926 : Average amount of Average deposits per capital per bank bank Number of sus- Pensions Su b s a p n e k n s d e * d A J l u l n b e a n 30 k , s, Su b sp a e n n k d s e l d A J l u l n b e a n 30 k , s, 1926 1926 ; All banks 956 : $35,000 $116, 000 $288,000 $1,921, 000 Nonmember 796 31,000 59,000 259, 000 1,083,000 Member _ _ 160 i 54,000 231,000 430,000 3,596,000 National 125 48,000 177, 000 383,000 2,587,000 State 35 73,000 540,000 598,000 9,332,000 i Based on banks for which figures are available. The average bank that suspended in 1926 had a capital of $35,000 and deposits of $288,000, while the average for all banks in the country in June, 1926, was a capital of $116,000 and deposits of $1,900,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 13 Capital and deposits of suspended banks were smaller than the average for all classes of banks, as is brought out by the table, and for banks in all of the States where the majority of bank failures has occurred. The condition of many banks in certain localities had, no doubt, been weakened for a number of years by unsound loan and investment practices, but so long as prices of agricultural commodities and of farm lands were advancing most of these banks were able to continue in operation without outward indications of the fundamental weakness of their position. During the period of rapid rise in crop prices and land values prior to the summer of 1920 many of the banks extended credit freely both for the purchase of land and of securities and for the financing of various enterprises that flourished during the boom period. When, with the decline in prices after the spring of 1920, many of the borrowers were not able to meet their obligations, the banks in many cases were obliged to take over second mortgages on the borrowers' land as a protection of the principal of the loans. Since that time land values in some sections have declined further and many of the mortgages thus acquired have little or no value, since in many cases prior liens cover practically the full value of the land. In fact, these mortgages in many cases represent liabilities, because the banks find themselves under the necessity of paying taxes on the land in order to prevent the sale of the property for nonpayment of taxes. Banks which have had a large proportion of their assets in such not only unliquid but in many cases worthless assets have constituted the majority of the banks which have become insolvent in recent years. In localities where one or two years of good crops have helped the borrowers to liquidate or to reduce their loans at the banks, well-managed banks have been able gradually to improve their position and to return to solvency. Where, however, crops have been poor or prices low the banks with large amounts of unliquid loans have been obliged to close their doors. A contributory cause of bank suspensions has been the fact that with frequent suspensions of banks in the same neighborhood the confidence of depositors has been shaken and they have withdrawn their money from the banks. This withdrawal of deposits has accentuated the weakness of the situation and in some cases has been a factor in causing additional suspensions of banks which might otherwise have been able to continue in operation. In the Southern States, particularly Georgia and Florida, a large number of suspensions of small banks in 1926 was caused by the collapse of the Florida land boom and the failure of an institution which had handled surplus funds for a large number of correspondent banks scattered through several Southern States. Of the 145 banks which suspended in Georgia and Florida in 1926,44 were reported as having resumed operations by the end of the year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

14 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD RELATIONS WITH FOREIGN CENTRAL BANKS In the relations between the Federal reserve banks and foreign central banks the principal development of 1926 was in connection with the reestablishment of the Belgian currency on a gold basis. On October 25,1926, the Belgian Government put into operation a plan of monetary reform which included the creation of a new unit of currency, the belga, with a fixed value in relation to the Belgian paper franc at the ratio of 1 to 5, to the pound sterling of 35 to 1, and to the dollar of 7.20 to 1. Under the terms of the new law the value of the Belgian paper franc was fixed at 2.78 cents, or about 14.4 per cent of its original gold parity. To accomplish this monetary reform the Belgian Government negotiated in foreign markets a loan of about $100,000,- 000, and the National Bank of Belgium, on its own account, arranged for advances of credit of about £5,000,000 sterling from a group of European central banks and the Bank of Japan. In this connection the Federal Reserve Bank of New York, on its own behalf and on behalf of other Federal reserve banks desiring to participate, acting with the approval of the Federal Reserve Board, agreed for a period of a year, beginning on October 25, to purchase from the National Bank of Belgium, if offered, prime bankers' bills, drawn in conformity with the eligibility requirements of th'e Federal reserve act and to be payable in gold, the aggregate amount of such bills not to exceed $10,000,000 at any one time. Up to the close of the year no bills were offered to the Federal reserve bank under this arrangement. No use was made during the year of the arrangement with the Bank of England made in 1925, which was described in the board's annual report for that year, and which will expire by limitation in May, 1927. Loans on gold extended by the reserve banks to the central banks of Poland and Czechoslovakia, which had amounted to $10,500,000 in 1925, were entirely repaid by the middle of 1926, while balances kept with the reserve banks by foreign central banks under the practice of many of the banks in recent years of carrying a portion of their reserves in the form of foreign currencies were continued to be maintained. In 1926, as in earlier years, a part of these balances was invested by the reserve banks in bankers' acceptances and shortterm Government securities purchased for account of the foreign correspondents. In addition, the Federal Reserve Bank of New York continued to hold in its vaults gold earmarked for account of foreign correspondents. GOLD IMPORTS AND DOLLAR BALANCES Gold movements into and out of the United States were in the aggregate amount smaller in 1926 than in any other year since the establishment of the Federal reserve system, with the exception of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

15 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD the period of the gold embargo in 1918-19. Also, it may be noted that the origin and destination of gold shipments were different. Almost no gold was received from Europe, the countries sending a net amount of gold to the United States during the year being chiefly Canada, Latin American countries, Australia, and Japan. Net gold exports, on the other hand, went chiefly to Germany, which pursued a policy of building up the Reichsbank's vault reserve by withdrawing gold held earmarked for its account in the United States. The following table shows gold imports and exports for the past six years, by continents: GOLD MOVEMENTS INTO AND OUT OF THE UNITED STATES [In thousands of dollars] 1921 1922 1923 1924 1925 1926 Imports from— Europe _ 516,032 223, 218 235, 319 220, 525 66,105 1,672 Canada 36,856 10, 378 49, 374 41, 496 33,123 82, 513 Latin America - 36, 366 20,968 22, 671 36, 683 12, 531 52,882 Asia. 68,812 10, 677 10,197 15, 705 15, 083 24,242 Australia 14,014 2,676 32 1,712 2 51,119 Allother 19,187 7,253 5,123 3,600 1,429 1,046 Total. 691, 267 275,170 322, 716 319, 721 128, 273 213,474 Exports to— Europe 2,671 875 4,280 36,110 83, 637 47, 573 Canada _ _ .___ 2,914 22,162 1,705 3,102 45, 656 42, 392 Latin America.- __ 7,124 4,816 5,455 5,442 24, 621 14, 589 Asia 10, 931 8,943 17,189 15, 863 81, 025 10, 697 Australia 1 26 925 Allother 251 78 352 1,131 776 457 T N o e t t a i l m - ports _- .- 6 2 67 3 , , 8 3 9 7 1 6 23 3 8 6 , , 8 2 7 9 5 5 28, 643 25 6 8 1 , , 6 0 4 7 8 3 262, 640 11 9 5 7 , , 7 7 0 6 8 6 Net exports 294, 073 134, 367 During the four years of large gold imports, 1921-1924, most of the gold came from Europe, representing in part the reshipment from London of newly mined South African gold and in part the export of gold from the reserves of certain European countries, chiefly Russia and Germany. Since the closing months of 1924, with the restoration of monetary stability in Germany and the setting up of the financial and fiscal machinery under the Dawes plan, that country has been restoring her gold reserves, and a considerable part of the gold exported from the United States since that time has been taken by Germany. Virtual cessation of gold imports from European countries in 1926, following several years of very large imports, is accounted for chiefly by the restoration of more stable monetary and financial conditions in Europe, by the consequent greater freedom of movement of funds between the principal money markets, and by the ability and willingness of American investors to absorb a large volume of foreign loans, both public and private. A part of the proceeds of these loans has been kept by the borrowers either as balances with New York Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

16 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD banks or in some form of short-term investments in the New York market. Dollar balances in New York have been built up not only by foreign industrial corporations and commercial banks but also by European and South American central banks, which in many instances are authorized by law to keep a portion of their reserves in the form of foreign exchange in countries with stable currencies. These dollar balances of foreign central banks, whether they are invested or kept on deposit, are in liquid form and subject to immediate withdrawal at any time. If they were to be withdrawn in gold in whole or in part the demand for the gold, though it would first be felt by the commercial banks, both member and nonmember, would promptly reach the Federal reserve banks as the only holders of gold in any considerable amount. These balances are, therefore, potential sources of demand upon the Federal reserve banks for gold out of their reserves, the central banking reserves of the United States, which have thus become indirectly a part of the reserves against bank credit and currencies in other countries. The existence in America of these foreign balances consequently presents a condition in the banking situation to be taken into account in determining the Federal reserve system's credit policy with a view to maintaining the country's banking system in a position to meet demands for gold from abroad without disturbing business and credit conditions in this country. OPERATIONS OF THE FEDERAL RESERVE SYSTEM In the preceding pages there has been presented a brief discussion of business and banking developments in 1926 and of the policies pursued by the Federal reserve system during the year. In the following sections of this report there is given a more detailed account of the operations of the Federal reserve banks and branches and of administrative matters with which the Federal Reserve Board has dealt during 1926. FEDERAL RESERVE BANK CREDIT IN 1926 Federal reserve bank credit outstanding at the close of 1926 was in somewhat smaller volume than at the end of the preceding year. The principal factor accounting for this reduction was the addition to the reserve funds available to member banks of about $75,000,000 of gold received from abroad, while the demand for reserve funds, as measured by changes in the reserve requirements of member banks and in the demand for currency in circulation, showed little Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPOKT OF THE FEDEKAL RESEKVE BOARD 17 change for the year. Notwithstanding the fact that the level of reserve bank credit at the end of 1926 was lower than a }^ear earlier, as is brought out by the chart, the average for the year as a whole was considerably higher than for 1925. During 1925, as the result of gold exports of about $135,000,000, the volume of reserve bank credit in use increased and was higher at the beginning of 1926 than at the corresponding period a year earlier. As the year 1926 advanced, however, and gold in considerable volume was received from abroad, the difference between the levels prevailing in the two years gradually decreased, and in the last two months the outstanding amount of reserve bank credit in 1926 was less than in the same months of 1925. MILLIONS OF DOLLARS MILLIONS OF DOLLARS 1500 1500 1300 1300 1100 1100 900 900 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Monthly averages of daily figures of total bills and securities of the 12 Federal reserve banks combined. Thus, while the average of reserve bank credit for the year 1926 was about $70,000,000 larger than for 1925, the level in December of 1926 wras about $50,000,000 lower than the year before. Changes in the volume of reserve bank credit in the course of the year 1926 were smaller than during the two preceding years, partly because of the smaller volume of gold movements and partly because the domestic demand for reserve bank credit, which reflects chiefly changes in the reserve requirements of member banks and in the currency requirements of the public, remained fairly constant throughout the year. The table following shows average figures for the principal items in the reserve bank statement for December, 1925 and 1926, and for the entire year 1925 and 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

IS ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANKS [Amounts in thousands of dollars] Average for December Average for year Increase ! Increase or i or decrease I 1925 1926 1925 1926 Total bills and securities 1,428, 732 1, 380, 571 -48,161 1,139, 507 1, 209, 309 +69,802' Bills discounted 690, 896 671, 722 -19,174 481,515 570, 613 +89,098 Bills bought in open market 367, 864 384, 826 + 16,962 287, 329 281, 386 -5, 943. United States Government securities 358, 412 321.446 -36, 966 358. 962 349, 790 -9, 172: Other securities ._. 3.193 2,577 -616 2; 484 3,406 +922 Foreign loans on gold 8,367 -8, 367 9,217 4,114 -5,103 Due from foreign banks 734 " 65l" -83 671 674 +3 Federal reserve notes 1,817,473 1, 856, 436+38, 963 1, 704, 3071, 723,189 + 18,88? Total deposits 2, 281, 484 2, 289, 632 +8,148 2, 229, 630 2,268, 801 +39, 171 Member bank reserve account 2, 218, 5522, 218,186 -366 2,167,041 2,208, 899 +41, 858 Government 31, 105 39, 758 +8, 653 31, 401 31, 990 +589' Foreign bank 10, 755 13, 760 +3, 005 10, 062 7,997 -2, 065 Other deposits. _ _. 21, 072 17, 928 -3,144 21, 126 19, 915 -1,211 Total reserves __ 2, 929, 074+123, 283 2, 938, 1812, 945, 674 +7, 49& Ratio of reserves to deposits and notes 2, 805, 791 (percent) 70.6 74.7 73.8 Contingent liability on bills purchased 68.5 for foreign correspondents *• 51, 302 -754 40, 896 59,846 +18, 950 52, 056 1 Averages of weekly figures. Other averages are based on daily figures. EARNINGS AND EXPENSES AND VOLUME OF WORK OF THE FEDERAL- RESERVE BANKS As a result of an increase both in total holdings of bills and securities by the Federal reserve banks and in the rate of earnings, gros& earnings of the Federal reserve banks were'larger by $5,800,000 in 1926 than in the preceding year. Aggregate earnings in 1926 were $47,600,000, as compared with $41,800,000 in 1925 and $38,300,000 in 1924. Holdings of discounted bills averaged $571,000,000 in 1926, as compared with $482,000,000 in 1925, while holdings of purchased bills and United States Government securities were about $20,000,000 smaller than in 1925. The average rate of earnings on bills and securities was 3.76 per cent in 1926, and the average rate of return on discounted bills was 3.95 per cent in 1926, as compared with 3.67 per cent in 1925. Average daily holdings of each class of bills and securities by all Federal reserve banks combined, earnings therefrom, and annual rates of earnings during the* past four years, were as follows: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL BEPOET OF THE FEflfeBAL EESEEVE BOABD HOLDINGS OF BILLS AND SECURITIES AND EARNINGS THEREFROM (Amounts in thousands of dollars] B co il u ls n d te i d s- i b m n o B a u o i r l g p k ls h e e n t t m G c U S u o e n t r n v a i i t t e t t i e e r s e n s d e s - - s A b e i l c l l l u s o r a i t t h n i e e d r s Total Daily average holdings: 1923 __ 738,114 226,548 185, 823 85 1,150,570 1924 374,834 172, 428 401,365 1,690 950,317 1925.. 481,515 287,329 358, 962 11,701 1,139, 507 1926. . . 570,613 281,386 349,790 7,520 1,209,309 Earnings: 1923 32, 956 9,371 7,444 4 49,775 1924._ 15, 943 5,710 14,712 61 36,426 1925 17, 680 9,104 12,783 419 39,98^ 1926... 22,552 10,003 12, 589 316 45,460 Average rates of earnings (per cent): 1923__ 4.46 4.14 4.01 4.50 4.33 1924 4.25 3.31 3.67 3.61 3.83 1925.. 3.67 3.17 3.56 3.59 3.51 1926 3.95 3.55 3.60 4.21 3.76 A further reduction in current expenses of the Federal reserve banks was effected during 1926, notwithstanding the continued increase in the volume of work handled, total current expenses exclusive of fiscal agency expenses, reimbursable by the United States Treasury, aggregating $27,350,000 in 1926, as compared with $27,528,000 in 1925. Salary payments to clerical employees, which constitute the largest single item of current expense, declined by $394,000 and rent paid by $81,000, but these and other smaller reductions were largely offset by increases in insurance premiums on currency and security shipments, postage, and expressage, necessitated principally by the larger volume of currency and checks handled, and by increases in taxes, repairs, and alterations on banking houses, legal fees, and miscellaneous expenses. The cost of Federal reserve currency, including redemption and shipping charges, amounted to $1,714,000 in 1926, as compared with $1,803,000 in 1925. The further decrease of $394,000 in salaries paid to clerical employees, following the reduction of $1,200,000 in the previous year, notwithstanding the larger volume of work handled in the principal departments, is evidence of a continued increase in efficiency of the operating staff of the banks, which comprised 10,077 officers and employees on December 31, 1926, as compared with 10,126 at the Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

20 ANNUAL REPORT OF SHE FEDERAL RESERVE BOARD end of 1925. The magnitude of the Federal reserve banks' operations and the constant increase in the volume of work handled in the principal operating departments, particularly in cash and check departments, where a large part of the personnel is employed, is brought out in the following table: VOLUME OP OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 123,000 116,000 129,000 168,000 Notes discounted _ 506,000 475,000 583,000 782,000 Bills purchased in open market for own account 232,000 201, 000 143,000 179,000 Currency received and counted 2,099, 605,000 1,947, 419,000 1, 838, 279,000 1, 722, 877,000 Coin received and counted 2, 590,057,000 2,329,014, 000 2,186, 737,000 2,076,075,000 Checks handled 822,907,000 778, 686,000 742, 878,000 697, 502,000 Collection items handled: United States Government coupons paid 39. 678, 000 44,174, 000 50,471,000 64, 662,000 All other 5, 595,000 5, 467,000 6,113,000 5, 732, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 4, 691, 000 7,116,000 16,097,000 i 114,409,000 Transfers of funds.. 1, 710,000 1, 566, 000 1, 503, 000 1, 413, 000 AMOUNTS HANDLED Bills discounted $37, 682,137, 000 $32, 562, 620, 000 $15, 419,155, 000 $38,379,926,000 Bills purchased in open market for own account _ __ 3,353,326,000 2,961,170, 000 2,172,142,000 2, 547, 010,000 Currency received and counted 12, 584,960, 000 11,556,980,000 10, 777, 306,000 10,306,411,000 Coin received and counted.. _. 609, 359, 000 467, 732, 000 293,924,000 308, 051,000 Checks handled _ 272,945,160,000 258,611,276,000 219, 832,179,000 207, 719, 529,000 Collection items handled: United States Government coupons paid 644, 273, 000 680,921, 000 719, 784,000 761, 731, 000 All other 6, 219, 361,000 6,116,958,000 5, 509,093,000 5,900, 520,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 4,971,442,000 5, 578,995,000 6, 708, 272, 000 8, 433, 891,000 Transfers of funds _. 120,909,439,000 109, 430, 683,000 98,359, 028,000 78, 867,108,000 * Large total due to redemption of war savings securities which matured Jan. 1, 1923. Checks handled by the Federal reserve banks in 1926 aggregated $273,000,000,000; currency and coin received and counted, $13,000,- 000,000; bills discounted and bought, $41,000,000,000; transfers of funds, $121,000,000,000; noncash items received for collection, $6,000,000,000; United States securities issued, redeemed, and exchanged by the fiscal agency department, $5,000,000,000; and Government coupons paid, $644,000,000. As an indication of the volume of coins handled by the reserve banks it may be of interest to note that the Federal Keserve Bank of New York receives and counts on an average 11 tons of nickels and cents and 7 tons of other coin daily, and, as it pays out approximately the same amount of coin, receipts and payments of coin at that one bank aggregate in mere physical weight about 36 tons a day. Corresponding daily averages of coin received and paid out by the system as a whole for the year 1926 are as follows: Cents, 18 tons; nickels, 31 tons; dimes, quarters, and half dollars, 32 tons; silver dollars, 6 tons; gold coin, 4 tons. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD 21 ,As a result principally of the larger gross earnings, the current net earnings of the Federal reserve banks increased to $20,249,000 in 1926, as compared with $14,273,000 in 1925 and $9,909,000 in 1924. The Federal reserve banks, with the approval of the Federal Reserve Board, charged their current net earnings with $3,638,000, of which $2,096,000 represented depreciation charges on bank premises, $1,210,000 additions to reserves for probable losses on paper of failed banks, and $533,000 the cost of furniture and equipment purchased during the year. This left a balance of $16,612,000, of which $7,329,- 000 was paid to member banks as dividends, $8,465,000 transferred to surplus account, and $818,000 paid to the United States Government as a franchise tax. Under the provisions of section 7 of the Federal reserve act, each Federal reserve bank transfers to surplus account all of the net earnings remaining after the payment of dividends until the surplus account is equal to 100 per cent of subscribed capital, and thereafter it transfers 10 per cent of net earnings to surplus account and pays 90 per cent to the Government as a franchise tax. At the end of 1926 the surplus accounts of eight of the Federal reserve banks, all except Boston, Richmond, Minneapolis, and Kansas City, were materially below subscribed capital, and accordingly the entire net earnings of those eight banks were transferred to surplus account. The Federal Reserve Banks of Boston and Richmond transferred to their surplus accounts sufficient amounts to bring them up to 100 per cent of subscribed capital, and 10 per cent of the balance of their net earnings, and paid $45,962 and $84,472, respectively, to the Government as franchise taxes. The Federal Reserve Banks of Minneapolis and Kansas City, whose surplus accounts were in excess of subscribed capital, transferred 10 per cent of their net earnings to surplus account and paid the balance of $234,381 and $453,335, respectively, to the Government as franchise taxes. Gross and net earnings of each Federal reserve bank during the year, dividends paid to member banks, amounts transferred to surplus account, and amounts paid to the Government as franchise tax are shown in the following table: FINANCIAL RESULTS OF OPERATION OF THE FEDERAL RESERVE BANKS DURING 1926 Net earnings available for Transferred Franchise Federal reserve bank Gro i s n s g e s arn- s d ur iv p i l d u e s, n d a s n , d Div p i a d i e d nds to a c s c u o r u p n lu t s t U ax n i p t a e i d d franchise tax States Boston $3,319,077 $1,156, 873 $525, 023 $585, 888 $45,962 New York 10, 600,968 3,749,748 2,100,191 1,649, 557 Philadelphia... 3,626,648 1,533,733 730, 598 803,135 Cleveland 4, 517, 884 1,660,762 808, 505 852, 257 Richmond 2,429,017 727,645 363,957 279, 216 84,472 Atlanta 3,045, 867 1,228,327 296, 573 931, 754 Chicago. 6, 567,043 2,253,923 985,959 1,267,964 St. Louis 2,511,509 683,022 314,420 368,602 Minneapolis... 1,622,333 448,033 187,609 26,043 . 234,381 Kansas City___ 2,677,340 756,469 252,764 50,370 453,335 Dallas... 2,127,049 857,211 257,502 599,709 San Francisco. 4,554,860 1,555,999 506,068 1,049,931 Total; 47,599,595 16,611,745 7,329,169 6,464,426 818,150 Digitized for FRA3S8E4R9 4—27http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

22 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD BRANCHES AND AGENCIES OF THE FEDERAL RESERVE BANKS All branches and agencies of the Federal reserve banks in operation at the end of 1925 continued to function throughout 1926. The application of the Richmond bank for authority to establish a branch to serve the southwestern portion of the fifth Federal reserve district, which was pending at the end of 1925 and on which a hearing was granted by the board in January, 1926, is the only application for the establishment of an additional Federal reserve branch bank now before the board. A public hearing was also held on November 11 on the advisability of continuing the agencies of the Boston and Atlanta banks in Habana, Cuba, which have been in operation since September 1, 1923. Subsequent to this hearing the board approved a resolution of the board of directors of the Boston bank to discontinue the Boston agency, directing that this agency be discontinued as of December 31 and that the functions heretofore performed by it be taken over by the agency of the Atlanta bank. The volume of work handled by the branches and agencies in their principal operating departments has continued to increase, as may be seen from the following comparisons for 1924, 1925, and 1926: VOLUME OF OPERATIONS OF FEDERAL RESERVE BANK BRANCHES AND AGENCIES 1924 1925 1926 Checks handled: Number of items. 1 222,622,000 230, 685,000 240, 818,000 Amount | $54,763,840,000 $60, 989, 227, 000 $64, 716,081, 000 Currency received and counted: I Number of pieces 433,582,000 451,132,000 492,936, 000 Amount $2,468,886,000 $2,621,983,000 $2, 893,286,000 Coin received and counted: J ' Number of pieces. _ j 387,200,000 393, 994, 000 416, 936,000 Amount __ $60,199,000 $63, 619, 000 $66, 361,000 Current expenses of the 23 branches and 3 agencies during 1926 were $5,243,000, as compared with $5,343,000 in 1925 and $5,747,000 in 1924. BUILDING OPERATIONS OF FEDERAL RESERVE BANKS Construction of new buildings for the Birmingham and Salt Lake City branches and of an annex to the Philadelphia building was practically completed at the end of the year. The construction of buildings on the sites owned at Baltimore and Detroit was authorized by joint resolutions of the House of Representatives and the Senate, approved April 17 and April 14, respectively, and the purchase of a building for the use of the Buffalo branch was authorized by a similar resolution approved on March 24. The contracts for the Detroit building have been let, and plans for the Baltimore building are in process of completion. It is anticipated that the building at Buffalo, for which a purchase contract has been entered into, will be available for occupancy by the Buffalo branch in the early part of 1928. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPOET OF THE FEDERAL RESERVE BOARD 23 All of the Federal reserve banks and 13 of the Federal reserve branch banks are now housed in their own buildings. Tables showing the cost of building operations at each Federal reserve bank and branch will be found on page 132. CHANGES IN MEMBERSHIP On December 31, 1926, there were 9,260 member banks, with total resources of $42,029,644,000 in the Federal reserve system; of these banks, 7,906, with resources of $25,669,069,000, were national banks and 1,354, with resources of $16,360,575,000, were member State banks and trust companies. During the year there was a decrease of 229 in the number of member banks—national banks showing a decrease of 142 and member State banks a decrease of 87. Notwithstanding the decline in the number of banks, total resources showed a gain for the year of $604,349,000, the result of an increase of $774,730,000 in the resources of member State banks and a decrease of $170,381,000 in the resources of national banks. The decline during the year in the number of member banks is accounted for largely by decreases which were incidental to mergers, suspensions, and voluntary liquidations which terminated the existence of member institutions, as is shown in the following table: CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM, JANUARY 1, 1926, TO DECEMBER 31, 1926 Number of banks Active member banks, Jan. 1, 1926 9,489 Banks joining the system 1 174 Banks withdrawing from the system.. 2 125 Net increase from banks joining and withdrawing. 49 Banks lost to membership through mergers between member banks, suspensions, etc. 278 Net decrease for the year. -229 Active member banks, December 31, 1926. 9,260 1 Does not include two banks which were temporarily lost to membership through liquidation toward the end of 1925, but regained through reorganization in 1926. 2 Includes 44 withdrawals which were incidental to the absorption of member banks by existing nonmember banks. During 1926, 174 banks joined the system and 125 withdrew from membership; thus there was a net addition of 49 to the membership of the system as a result of the exercise of banks' option with regard to the assumption or relinquishment of membership. Of the banks that joined the system, 104 were newly organized national banks, 22 were former nonmember banks that joined the system by converting into national banks, and 32 were nonmember banks that were admitted to membership in the system with the status of State institutions. There were 13 banks which, having previously suspended, resumed operations and 3 banks which were newly Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

24 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD organized to succeed banks that had previously suspended. The 125 banks that relinquished membership in the system included 56 member State banks that withdrew after advance notice to the Federal reserve bank, 25 member banks that were succeeded by nonmember banks organized for that purpose, and 44 banks that were absorbed by already existing nonmember banks. The net voluntary accession of 49 banks was offset by a decrease of 278 resulting from mergers between member banks, from bank suspensions, and from other causes not related to the banks' choice in the matter of membership in the system. Mergers between member banks during the year accounted for the loss of 107 banks—88 of them national banks and 19 State institutions—and suspensions accounted for 160 banks—124 national and 36 State banks. There were also 10 banks the existence of which was terminated by voluntary liquidation, and 3 banks that were compelled to withdraw from the system because of violations of the Federal reserve act. In the following table changes in membership are shown in detail, by class of bank: CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM, BY CLASS OF MEMBER, JANUARY 1, 1926, TO DECEMBER 31, 1926 Member banks Number Resources (in thousands of National State Total dollars) Active member banks, Jan. 1, 1926 8,048 1,441 9,489 41,425,295 == Additions to membership: Organization of national bank 104 104 22,492 Conversion of nonmember bank to national . 22 22 100,216 Admission of State bank 32 32 88,379 Resumption following suspension 9 4 13 8,827 Conversion within the system i 8 17 Other additions.. 2 4 3 1 5 Total additions 147 44 176 Losses to membership: Merger between member banks— Intraclass < 68 12 80 Interclass . . _ _. 20 7 27 Voluntary liquidation (terminal) 10 5,771 Suspension and insolvency 124 36 160 95, 950 Absorption of member by nonmember bank 40 4 44 39,945 Conversion of member to nonmember bank 23 2 25 27,421 Withdrawal of State bank «59 59 52,602 Conversion within the system . i 7 1 8 Total losses 289 13.1 405 Net change -142 -87 -229 +604,349 Active member banks, Dec. 3V, 1926 7,906 1,354 9,260 42,029,644 1 Succession between members of one class and members of the other without effect on the number of banks in the system. 2 Includes one member bank succeeded by another of the same class prior to Dec. 31,1925, .the succeeding bank not reporting until after Dec. 31, 1925, and three banks organized to succeed banks that had previously suspended. 3 One member bank succeeded by another of the same class prior to Dec. 31, 1925, the succeeding bank not reporting until after Dec. 31, 1925. 4 Includes two instances in which two member banks were succeeded by a third organized for the purpose. Digitized for F5 IRnAclSudEeRs t hree compulsory withdrawals. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

25 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD BANKS ON PAR LIST At the end of 1926 there were 27,084 incorporated banks other than mutual savings banks in the United States, and of this number 23,171, or 85.6 per cent, were on the Federal reserve par list, which comprises all member banks and such nonmember banks as have agreed to pay, without deductions for exchange, such checks drawn upon them as are presented for payment by the Federal reserve banks. The total number of banks in the United States decreased during the year and the number of incorporated banks not on the par list at the end of 1926 (3,913) was 57 less than the number at the end of 1925. All banks in the Boston, New York, and Philadelphia Federal reserve districts, and all but eight in the Cleveland district, are on the par list; the banks not on the par list are nearly all located in the Southern and North Central States. The following table shows the number of member banks, all of which are on the par list, and the number of nonmember banks on the par list and not on the par list at the end of 1926 and 1925: NUMBER OF MEMBER AND NUMBER OF NONMEMBER BANKS ON PAR LIST AND NOT ON PAR LIST AT THE END OF 1926 AND 1925 Member banks Nonmember banks Federal reserve district On par list Not on par listl 1926 1925 1926 1925 1926 1925 Boston . _ 416 420 246 246 New York 913 880 411 391 Philadelphia 769 753 509 513 Cleveland _ __ 856 863 1,071 1,073 8 10 Richmond _ 583 604 686 712 625 687 Atlanta 475 495 333 366 1,057 1,102 Chicago 1,335 1,398 3,705 3,808 228 260 St. Louis 609 628 1,996 2,111 428 401 Minneapolis 764 829 923 1,185 1,093 1,062 Kansas City 992 1,027 2, 537 2,667 212 205 Dallas _ _ 827 852 711 768 197 182 San Francisco _ 721 740 783 803 65 61 Total 9,260 9,489 13,911 14,643 3,913 3,970 i Incorporated banks other than mutual savings banks. CHECK CLEARING AND COLLECTION On June 7, 1926, the Supreme Court of the United States in effect upheld the legality of the Federal reserve check-collection system by refusing to grant a writ of certiorari bringing before it for review the decision of the circuit court of appeals in the case of Pascagoula National Bank v. Federal Reserve Bank of Atlanta. The legality of the Federal reserve banks collecting at par checks drawn upon nonmember State banks except where prevented by State legislation having been upheld by the Supreme Court in the cases of American Bank & Trust Company v. Federal Reserve Bank of Atlanta (262 U. S. 643), and Farmers & Merchants Bank v. Federal Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

"26 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Reserve Bank of Richmond (262 U. S. 649), this suit was instituted on August 9, 1924, to test the legality of the present practices of the Federal reserve check-collection system as between Federal reserve banks and member banks. The Pascagoula National Bank of Moss Point, Miss., brought an injunction suit against the Federal Reserve Board, the Federal Reserve Bank of Atlanta, and the Federal reserve agent at Atlanta which, if successful, would have practically disrupted the entire check-collection system. The injunction if granted would have: (1) Permitted member banks to charge exchange on checks drawn upon them and presented for payment by or through Federal reserve banks; (2) Prohibited the Federal reserve banks from handling checks for any banks other than their own members and from handling for their own members any checks which are not payable within their own district; and (3) Required the Federal reserve banks to give immediate credit and availability to member banks for all deposits of checks drawn on their member banks in the same district, no matter at what distance from the Federal reserve bank the drawee bank might be located and regardless of the time it might take to collect such checks. The courts denied this injunction and upheld in all respects the legality of the present check collection practices of the Federal reserve system. The case was first tried in the United States District Court for the Northern District of Georgia, which dismissed the Federal Reserve Board from the suit on the ground that the Federal Reserve Board could not properly be sued in that court; and, in passing upon the merits as between the plaintiff and the Federal Reserve Bank of Atlanta, held in effect that: (1) The Federal reserve banks are not required to give depositing member banks immediate credit and availability for checks and drafts drawn on other member banks in the Atlanta district and are justified in refusing to permit the amount of said checks to be counted as reserves or to be withdrawn by check or otherwise until they actually have been collected; (2) Under the terms of the so-called "Hardwick amendment" to section 13 of the Federal reserve act, member banks have not the right to make an " exchange charge" for remitting payment to a Federal reserve bank for checks drawn on themselves, although such checks are not the property of the Federal reserve bank, but are handled for collection; (3) Under the terms of section 13 of the Federal reserve act, the authority of a Federal reserve bank to collect checks is not limited to checks sent to it by its own members and checks payable within Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 27 the district of such Federal reserve bank; and, therefore, a Federal reserve bank may collect checks on its own member banks and nonmember clearing banks which come to it from other districts, and may handle checks payable on presentation sent to it by its member banks or nonmember clearing banks whether payable within its own district or not; and (4) The provision in the Federal reserve act which has the effect of requiring member banks to pay without deduction checks drawn on them when presented by Federal reserve banks, whether paid over the counter or by the more convenient means of checks on their deposits elsewhere, does not deprive member banks of property without due process of law and, therefore, is not contrary to the fifth amendment to the Constitution. Pascagoula National Bank v. Federal Reserve Bank of Atlanta (3 F. (2d) 16*5). From this decision the plaintiff appealed direct to the Supreme Court of the United States on the ground that the case involved a constitutional question. On November 30, 1925, the Supreme Court issued an order transferring the case to the Circuit Court of Appeals for the Fifth Circuit, on the ground that the constitutional question involved was not sufficiently substantial to justify a direct appeal to the Supreme Court. This was tantamount to a ruling by the Supreme Court that the provision of the Federal reserve act which forbids Federal reserve banks to pay exchange charges on checks and forbids member banks to impose such charges on checks collected through Federal reserve banks is constitutional beyond any reasonable doubt. On February 11, 1926, the circuit court of appeals affirmed the decision of the United States district court on all points (11 F. (2d) 866), and the plaintiff petitioned the Supreme Court for a writ of certiorari bringing the case again before the court for review. On June 7, 1926, the Supreme Court denied the writ of certiorari, and as a result of this action the favorable decision of the circuit court of appeals became final. It is believed that this decision definitely and finally removes all doubt as to the legality of the Federal reserve check collection system. The opinion of the United States district court was printed in full in the board's annual report for 1924, on page 231. The opinion of the circuit court of appeals and a dissenting opinion of Judge Foster were published in full on pages 278-281 of the board's annual report for 1925. The Supreme Court rendered no opinion either in passing upon the original appeal from the district court or in denying the petition for a writ of certiorari. TRUST POWERS OF NATIONAL BANKS During the past year the board has approved 207 original and 20 supplementary applications by national banks for permission to exer- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

28 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD cise fiduciary powers under the provisions of section ll(k) of the Federal reserve act. The total number of banks holding permits from the board to exercise trust powers on December 31, 1926, was 2,103, a list of which, with powers granted, will be found on pages 538-557. Of the 2,103 national banks having permission to exercise fiduciary powers on December 31, 1926, 1,139 were exercising one or more of the powers authorized. These banks were acting as executor, administrator, guardian, etc., of trusts having assets aggregating $1,028,056,444, and in addition 448 of them were handling corporate trusts, such as trustee for collateral trust bond issues aggregating $1,002,615,495, and acting as trustee for other bond and note issues in the sum of $1,460,937,821. Earnings from trust department operations in the sum of $8,255,000 were reported for the fiscal year ended June 30, 1926. The following table gives this information, by Federal reserve districts. ACTIVITIES OF NATIONAL BANKS HAVING PERMISSION TO EXERCISE FIDUCIARY POWERS DURING THE YEAR 1926 Num- Fede d ra is l t r re ic s t erve b t b T n i a e n o u o r n a n m t - k a o a - l s f l b p iz t t e e o D e h c r x 3 r w u i d o e 1 e s a s c e r r e , t u t - - r . o s - p N c e o D 1 i b x 3 u s w 9 e e 1 e i 2 m c n r e , r 6 . - g r - s As d s i t e v r t u i s d s u t o s a f l in- c t B d h r o r l u a a a r i p n t n s n e o t k - g s - s a w o t c r C u h t u t e o a s s r l s t t e l a a t b n r b t o e u d a r n s i n a n t d l k e g s e s a w O o c a u h t t n h t e a s d e r t s e r a n t n b b r o u d o a t i s e n n n t s d k e g s s e r e f J d o e a u T m r p e y r 1 n r p n o 9 e e f e u 2 a i i a r n s n s t 3 6 r r c t e t g t 0 a - d s , l 1926 Boston 377 197 101 $120, 891, 927 32 $16, 774,110 $166, 479. 775 $781, 000 New York 755 296 177 274, 423, 661 77 886, 326, 795 840, 66f, 720 3, 685,000 Philadelphia 685 238 170 57, 321, 610 54 1, 294, 800 20, 491, 910 490, 000 Cleveland.. 744 155 110 83, 370, 025 52 5, 422, 263 76, 497, 751 521,000 Richmond 531 165 96 58,138, 735 28 17, 089, 292 16, 044, 875 340, 000 Atlanta 381 113 56 47, 379, 824 27 6, 539, 450 39, 307, 250 319, 000 Chicago 1,028 344 163 102, 793, 907 65 16,183,174 78,014, 292 633, 000 St. Louis 491 137 69 43,057, 313 15 4, 682, 000 14, 399, 201 232,000 Minneapolis 702 95 27 14, 581, 024 15 1, 641. 800 4,836, 853 77,000 Kansas City 975 171 71 98, 768, 930 30 19,493, 591 56, 624, 050 466, 000 Dallas 727 83 35 24, 517, 527 6 7, 363, 847 4, 728,406 120,000 San Francisco 570 109 64 102, 811, 961 47 19, 804, 373 142, 847, 738 591,000 Total 7,966 2,103 1,139 1, 028, 056, 444 448 1, 002, 615, 4951, 460, 937, 821 8, 255,000 ADMINISTRATION OF THE CLAYTON ACT In each of its annual reports for several years past the board has called attention to the desirability of amending section 8 of the Clayton Act. The board has found in administering this provision of law that the present law is not adapted to carrying out the intention of Congress in regulating interlocking bank directorates. In its present form section 8 of the Clayton Act in operation often defeats the purpose for which it was enacted; it discriminates against national banks, and in many cases its enforcement results in unnecessary hardship to individuals and to the disadvantage of the banking and credit situation in certain communities. During the first session of the Sixty-ninth Congress legislation remedying this situation was pro- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 29 posed both in the Senate and in the House, but the desired amendment has not yet been enacted into law. The board again recommends an amendment to section 8 of the Clayton Act in substantially the same form as that which has been suggested in its former annual reports. During the past year the board has received and considered 297 applications presented to it for permission to serve in interlocking directorates. The Comptroller of the Currency reported 29 alleged violations of section 8 of the Clayton Act; these the board investigated and required the bank directors involved to comply with the law where it was being violated. USE OF WORDS " FEDERAL" AND " RESERVE" IN THE TITLE OF BANKS, CORPORATIONS, OR FIRMS In its last annual report the board called attention to numerous complaints received regarding the use of the words "Federal" or "reserve" or a combination of the two as part of the title of banks, corporations, or firms other than Federal reserve banks. It was pointed out that those words were frequently employed in an attempt to take advantage of the prestige of the Federal reserve banks, sometimes misleading the public or resulting in confusion. The act of Congress which was approved May 24, 1926, is designed to remedy this situation. The purpose of this act is to prohibit the offering for sale as Federal farm loan bonds any securities not issued under the terms of the Federal farm loan act, to limit the use of the words "Federal," "United States," or "reserve," and to prohibit false advertising. The act makes unlawful, with certain specified exceptions, the use of the word "Federal," the words "United States," or the word "reserve," or a combination of such words as a portion of the corporate title or trade name of any person, firm, or corporation engaged in the banking, loan, building and loan, brokerage, factorage, insurance, indemnity, or trust business, and also makes unlawful any advertisement or representation by a nonmember bank that it is a member of the Federal reserve system. The prohibition against the use of the words "Federal," "reserve," or "United States" does not apply to departments or establishments of the Government of the United States or corporations organized under the laws of the United States, nor does it apply to persons, firms, or corporations actually engaged in business under a name or title including such words prior to the passage of the act. NOTES SECURED BY ADJUSTED SERVICE CERTIFICATES Pursuant to the provisions of section 502 of the World War adjusted compensation act, the board, on December 9, 1926, promulgated a new regulation respecting the rediscount by Federal reserve banks of notes of veterans secured by adjusted service certificates. In Digitized for FRASE38R4 94r—27 4 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

30 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD promulgating this regulation the board had in mind the fact that, in order to be eligible for rediscount at Federal reserve banks, such notes must comply in all respects with the requirements of the World War adjusted compensation act and the regulations of the United States Veterans' Bureau and that, for practical reasons, they should be accompanied at the time of rediscount by such evidence as the United States Veterans7 Bureau would require if it should become necessary for the Federal reserve banks to present such notes to that bureau for payment. The regulation consists principally of a detailed statement of these requirements. The text of this regulation appears on page 489. At the request of the Director of the United States Veterans' Bureau, the board also arranged for the Federal reserve banks to furnish to every incorporated bank in the United States before January 1, 1927, full information with respect to loans to veterans on the security of their adjusted compensation certificates. Pursuant to this arrangement, each Federal reserve bank sent to every incorporated bank in its district a circular letter explaining the legal requirements with respect to the making of loans to veterans on the security of their adjusted service certificates, the rediscount of notes secured by adjusted service certificates, and the redemption by the Veterans' Bureau of such notes if not paid by the veterans. At the request of the Veterans' Bureau, the Federal reserve banks also agreed to distribute to the leading banks, on request, forms of notes and affidavits furnished by the Veterans' Bureau. MEETINGS OF FEDERAL ADVISORY COUNCIL Four meetings of the Federal Advisory Council were held in Washington during 1926 on the following dates: February 18, May 21, September 17, and November 19. CONFERENCES HELD BY THE FEDERAL RESERVE BOARD The Federal Reserve Board, as usual, conferred with the Federal Advisory Council on the occasion of each of its meetings during the year. The governors of the Federal reserve banks met in Washington on March 22-24, and the governors of the Federal reserve banks and Federal reserve agents conferred, separately and jointly, on November 4-11. At both conferences special sessions were held at which the board was in attendance. ORGANIZATION, STAFF, AND EXPENDITURES Hon. Charles S. Hamlin, of Massachusetts, whose term of office as member of the Federal Reserve Board expired on August 9, 1926, was reappointed to serve until August 9, 1936. Mr. E. A. Goldenweiser, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 31 who has been connected with the research work of the board since 1919, was appointed director of the division of research and statistics, effective January 1, 1927, and Mr. Carl E. Parry was appointed assistant director of the division. Mr. E. M. McClelland was appointed an assistant secretary of the board, and Mr. B. M. Wingfield was appointed an assistant counsel, effective January 1, 1926. The total cost of conducting the work of the board during the year 1926 was $705,507.99. To meet these expenses the board levied two assessments against the Federal reserve banks aggregating $721,724.17, or approximately one-fifth of 1 per cent of their average paid-in capital and surplus for the year. By direction of the Federal Reserve Board. D. R. CRISSINGER, Governor^ The SPEAKER OF THE HOUSE OF REPRESENTATIVES. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK RATES CO to No. 1.—DISCOUNT RATES—CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1926, ON ALL CLASSES AND MATURITIES OF DISCOUNTED BILLS [Per cent] San Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago L S ou t. is M ap in o n li e s - K C an it s y as Dallas F ci r s a c n o - In effect Jan. 1, 1922 4>'2 4K* 5 5 5 5 5 5 5 Changes effective: 1922—Jan. 9 . 5 Jan.11 5 Jan. 23 I 4M Feb. 14 4M o Mar 15 4M>! Mar. 25 4J/2 Apr 6 4M Apr. 14 June 22 4 June 23 4 JulyS 4 July 12 Aug. 12... . . 4^ Aug. 15 43^ 1923—Feb 23 4.H Mar. 6 j 1924—May 1 4 June 2 4 w June 10 4 bi June 12 June 14 4 4 June 18 4 June 19 23H 4 June 20 July 1- 4 July 16 4 Aug. 8 3 Aug. 15 3M Aug. 25 3K Oct. 15 4 2 1925—Feb. 27 3M Nov. 10 _ . _ . 4 Nov. 17 4 Nov. 20 . 4 I Nov.23 ::;;:;;:i::::::::::::: 1 4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1926—Jan. 8 Apr. 23 Aug. 13 In effect Dec. 31, 1926 _ 1 5 psr cent on 6-9 month agricultural and livestock paper from Apr. 7, 1923, to June 11, 1924, inclusive. 2 5 per cent on 6-9 month agricultural and livestock paper from Apr. 19, 1923, to June 25, 1924, inclusive; 4H per cent on 91-day to 6-month agricultural and livestock paper from June 19 to June 25, 1924. NOTE.—Discount rates became applicable to 6-9 month agricultural and livestock paper, which was made eligible by the Mar. 4,1923, amendment to the Federal reserve act, on the following dates in 1923: Boston, Apr. 7; New York, Aug. 6; Philadelphia, Apr. 19; Cleveland, Apr. 9; Richmond, Apr. 7; Atlanta, Mar. 22; Chicago, Aug. 16; St. Louis, Apr. 5; Minneapolis, Apr. 11; Kansas City, Apr. 14; Dallas, Apr. ]2; San Francisco, Mar. 21. No. 2.—AVERAGE RATES CHARGED ON DISCOUNTED BILLS [Per cent] Prior years Federal reserve bank u Ja a n ry - r F u e a b r - y March April May June July August te S m ep b - er O b c e t r o- ve N m o b - er ce D m e b - er Y 1 e 9 a 2 r 6 , 1925 1924 1926 Boston 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.59 4.10 New York _ ._ 3.88 4.00 4.00 3.81 3.50 3.50 3.50 3.79 4.00 4.00 4.00 4.00 3.84 3.43 3.92 Philadelphia . _ 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.58 4.07 Cleveland 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.59 4.11 Richmond 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.28 Atlanta - - . . . . .. 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.32 Chicago 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.33 St. Louis . . _ . 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4 00 4.00 4.00 4.00 4.00 4.34 Minneapolis 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.'00 4.00 4.00 4.00 4.00 4.45 Kansas City 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4 00 4.00 4 00 4 00 4.00 4.00 4.00 4.40 Dallas ._ 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.34 San Francisco 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.58 4.30 All banks: 1926 3.97 4.00 4.00 3.96 3.87 3.89 3.84 3.94 4.00 4 00 4.00 4.00 3.96 1925 3.53 3.44 3.68 3.73 3.71 3.69 3.68 3.70 3.70 3.69 3.77 3.86 3.70 1924 4.50 4.50 4.50 4.50 4.42 4.16 3.89 3.78 3.69 3 65 3.63 3.56 4.20 1923 4.25 4.28 4.49 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.47 1922 4.84 4.77 4.70 4.60 4.59 4.54 4.39 4.34 4.36 4.34 4.29 4.30 4.52 1921 6.36 6.36 6.43 6.33 6.20 6.14 6.02 5.76 5.75 5.62 5.03 4.91 6.01 1920. 4.90 5.52 5. 64 5. 67 5.74 6.20 6.21 6.19 6.39 6.40 6.45 6.49 6.02 1919 4.18 4.14 4.15 4.18 4.16 4.19 4.14 4.12 4.18 4.19 4.53 4.67 4.26 1918 4.02 4.02 4.08 4.23 4.35 4.42 4.37 4.25 4.24 4.21 4.20 4.18 4.26 CO CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—AVERAGE RATES EARNED ON DISCOUNTED BILLS [Per cent] Prior years Federal reserve bank u J a a r n y - r F u e a b r - y March April May June July August te S m ep b - er O b c e t r o- No b v e e r m- De b c e e r m- Y 19 e 2 a 6 r, 1925 1924 1923 d 1926 tr1 Boston 3.99 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.58 4.18 4.41 I New York 3.73 3.98 3.99 3.93 3.53 3.51 3.50 3.69 3.97 3.98 4.00 4.00 3.82 3.43 3.97 4.41 Philadelphia 3.98 3.99 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.56 4.12 4.50 Cleveland 3.97 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.58 4.17 4.50 Richmond 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.32 4.50 Atlanta 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4.00 4 00 4.00 4.00 4 00 4.00 4.36 4.50 Chicago 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.37 4.50 O St. Louis . 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.39 4.50 Minneapolis _ 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4.00 4.00 4 00 4.00 4.00 4.00 4.49 4.52 Kansas City 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.46 4.50 Dallas . 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4 00 4.00 4 00 4 00 4.00 4.00 4.00 4.40 4.50 San Francisco . _ . _ 3.99 3.99 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.57 4.33 4.42 All banks- 1926 3.91 3.99 4.00 3.98 3.87 3.88 3.85 3.91 3.99 4.00 4.00 4.00 3.95 1925 3.55 3.42 3.60 3.66 3.69 3.69 3.68 3.68 3.66 3.66 3.71 3.84 3.67 1924 4.50 4.50 4.50 4.50 4.45 4.35 4.11 3.99 3.85 3.75 3.69 3.59 4.25 1923 4.26 4.24 4.45 4.49 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.46 1922 4 99 4 90 4 83 4 75 4 68 4 61 4 50 4 47 4 42 4 36 4 29 4 29 4 63 1921 6.30 6.37 6.36 6.32 6.29 6.20 6.09 5.91 5.85 5.69 5.39 5.11 6.07 1920. 4.71 5.20 5.47 5.58 5.66 5.89 6.13 6.19 6.22 6.35 6.41 6.42 5.'88 1919 4 21 4 18 4 16 4 16 4 15 4 20 4 15 4 13 4 17 4 15 4 40 4 55 4 23 1918. 3 94 4 02 3 94 4.14 4 38 4 31 4.40 4.35 4.27 4.22 4.27 4.29 4.24 1917 4 01 4 02 4 14 3 92 3 82 3 49 3 82 3 77 3 79 3 47 3 42 3 75 3 61 1916. 4.18 4.15 4.21 4.17 4.24 4.36 4.24 4.31 4.43 4.35 4.08 3.81 4.20 > W Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 4.—AVERAGE RATES CHARGED ON BILLS BOUGHT IN OPEN MARKET [Per cent] Prior years Federal reserve bank u Ja a n ry - r F u e a b ry - March April May June July August te S m e b p- er O b c e t r o- No b v e e r m- De b c e e r m- Y 19 e 2 a 6 r, 1925 1924 1926 Boston 3.58 3.63 3.58 3.56 3.34 3.31 3.31 3.48 3.78 3.78 3.77 3.77 3.59 3.32 2.90 New York 3.60 3.57 3.51 3.55 3.49 3.51 3.69 3.48 3.77 3.76 3.78 3.76 3.64 3.16 2.93 Philadelphia 3.63 3.63 3.64 3.62 3.29 3.29 3.29 3.50 3.79 3.78 3.73 3.74 3.60 3.24 3.40 Cleveland. 3.62 3.65 3.64 3.62 3.30 3.29 3.29 3.45 3.75 3.76 3.76 3.73 3.57 3.20 3.09 Richmond 3.63 3.68 3.67 3.62 3.30 3.31 3.24 3.45 3.75 3.72 3.73 3.69 3.57 3.25 4.01 Atlanta 3.60 3.68 3.68 3.62 3.32 3.32 3.37 3.57 3.79 3.85 3.77 3.73 3.61 3.41 3.74 Chicago 3.65 3.70 3.70 3.65 3.31 3.33 3.41 3.49 3.81 3.85 3.79 3.78 3.63 3.28 3.31 St. Louis 3.55 3.62 3.64 3.57 3.28 2.27 3.15 3.42 3.69 3.71 3.72 3.67 3. 52 3.28 2.86 Minneapolis.. .. 3.63 3.64 3.64 3.67 3.29 2.29 3.28 3.41 3.73 3.74 3.74 3.71 3.57 3.24 3.66 Kansas City 3.61 3.68 3.65 3.62 3.28 3.28 3.30 3.47 3.72 3.75 3.73 3.70 3.57 3.28 2.90 Dallas 3.62 3.68 3.69 3.65 3.30 3.33 3.32 3.46 3.78 3.77 3.77 3.75 3.61 3.32 3.26 San Francisco 3.60 3.67 3.65 3.60 3.35 3.36 3.35 3.41 3.73 3.76 3.75 3.73 3.60 3.25 2.95 All banks: 1926 3.60 3.64 3.61 3.60 3.37 3.35 3.39 3.47 3.77 3.78 3.76 3.75 3.60 1925 3.01 3.08 3.18 3.16 3.16 3.19 3.24 3.26 3.42 3.43 3.43 3.42 3.26 1924 4.18 4.16 4.16 4.14 3.48 3.15 2.35 2.25 2.23 2.20 2.32 2.79 3.08 1923 4.09 4.08 4.09 4.12 4.16 4.18 4.20 4.20 4.21 4.21 4.19 4.18 4.16 1922 4.28 4.21 3.92 3.48 3.28 3.22 3.13 3.10 3.19 3.68 4.10 4.11 3.59 1921 6.05 6.01 6.01 5.94 5.88 5.88 5.70 5.31 5.35 4.97 4.60 4.41 5.49 1920-. __ _ 5.10 5.53 5.80 5.82 5.96 6.07 6.06 6.04 6.04 6.05 6.45 6.08 5.85 1919 4.28 4.24 4.24 4.24 4.24 4.24 4.25 4.25 4.25 4.26 4.47 4.84 4.36 OO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 5.—AVERAGE RATES EARNED ON BILLS BOUGHT IN OPEN MARKET AND FROM OTHER FEDERAL RESERVE BANKS CO [Per cent] j Prior years Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July g A u u s - t te S m ep b - er O b c e t r o- v N b e e m o r - - c D b e e m e r - - Y 1 e 92 ar 6 , 1925 1924 1923 1926 Boston _. 3.47 3 51 3.61 3.62 3 47 3 37 3 31 3 24 3 41 3 72 3 77 3 79 3.54 3 19 3.18 4.13 New York 3 46 3 58 3 59 3.59 3 50 3 40 3 39 3 34 3 56 3 68 3 74 3 76 3 58 3 08 3 01 4 11 Philadelphia 3.44 3 51 3 58 3.61 3 54 3 33 3 29 3 31 3 55 3 69 3 76 3 75 3.56 3 17 3 58 4.13 Cleveland 3.55 3.62 3.63 3.63 3.52 3.35 3.31 3.30 3.48 3.65 3.77 3.75 3.56 3.12 3.52 4.15 Richmond __. 3.56 3.63 3.65 3.65 3.53 3.35 3.31 3.31 3.47 3.65 3.72 3.73 3.55 3.23 4.18 4.27 Atlanta . ._ 3.45 3 52 3 60 3. 65 3 57 3 41 3 33 3 33 3 53 3 73 3 78 3 78 3 55 3 33 3 77 4.19 Chicago 3.46 3.56 3.63 3.65 3.45 3.32 3.31 3.33 3.48 3.65 3.73 3.74 3.54 3.16 3.48 4.15 St. Louis _._ 3.46 3.55 3.61 3.63 3.48 3.31 3.29 3.31 3.39 3.72 3.69 3.72 3.52 3.16 2.91 4.07 Minneapolis ... 3.40 3 58 3 63 3 62 3 59 3 41 3 34 3 32 3 47 3 62 3 73 3 74 3 55 3 24 3 73 4. 13 Kansas City _. 3.47 3.55 3.62 3.64 3.52 3.36 3.32 3.31 3.48 3.63 3.73 3.75 3.55 3.20 3.06 4.26 Dallas ___ 3.44 3.53 3.60 3 66 3. 59 3.40 3 34 3 33 3 49 3 54 3 86 3 78 3 55 3 18 3 66 4.13 San Francisco 3.47 3.58 3.63 3.64 3.53 3.38 3.35 3.34 3.49 3.63 3.73 3.73 3.55 3.12 3.26 4.14 All banks: 1926 3.46 3.55 3.61 3.63 3.52 3.37 3.33 3 32 3 50 3 67 3 75 3.76 3.55 1925 2.70 2 88 3 06 3 13 3.16 3.17 3 19 3 24 3 32 3 37 3 40 3 43 3 17 1924 4.20 4.18 4.17 4 17 4.05 3.66 2.80 2 49 2 22 2 20 2 23 2 46 3 31 1923 4.01 4 09 4.10 4 08 4.11 4 14 4 18 4 19 4 19 4 19 4 18 4 20 4 14 1922 _— 4 44 4 25 4 06 3 83 3 50 3 29 3 18 3 11 3 11 3 24 3 59 3 84 3 54 1921 6 14 5 99 6 01 5 97 5.98 5 97 5 96 5 36 5 33 5 04 4 91 4 50 5 70 1920 4.79 5.06 5.47 5.70 5.77 5.98 6.07 6.07 6.06 6.07 6.03 6.05 5.06 :: 1919 4.29 4.25 4.26 4.23 4.25 4.19 4.27 4 22 4 27 4.22 4 33 4.54 4.30 .... GO 1918 3.64 3.79 3 92 4.18 4 36 4 25 4 24 4 38 4 19 4 25 4 36 4 33 4 14 1917 2.80 3.02 3.19 3.10 3.15 3.16 3.23 3 19 3.35 3 40 3 53 3.43 3.26 :::: 1916 2.09 2.07 2.04 2.04 2.07 2.14 2.21 2.31 2.46 2.12 2.52 2.71 2.36 i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 6.—AVERAGE RATES EARNED ON DISCOUNTED AND ON PURCHASED BILLS [Per cent] Discounted bills Purchased bills Federal reserve bank 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 Boston. . _ __ 3.52 3.66 4.01 4.21 5.91 6.03 4.24 4.41 4.18 3.58 4.00 2.22 3.25 4.19 4.25 5.81 5.61 3.52 4.13 3.18 3.19 3.54 New York 3.69 3.12 4.04 4.12 5 88 6.13 4.25 4.41 3.97 3.43 3.82 2.38 3.33 4.07 4.25 5.69 5.59 3.54 4.11 3.01 3.08 3.58 Philadelphia 3.75 3.73 4.29 4.13 5.48 5.49 4.50 4.50 4.12 3.56 4.00 2.31 3.18 4.12 4.24 5.85 5.61 3.50 4 13 3.58 3.17 3.56 Cleveland 4.25 3.94 4.28 4.22 5.88 5.85 4.64 4.50 4.17 3.58 4.00 2.29 3.24 4.20 4.27 5.67 5.90 3.48 4 15 3 52 3.12 3.56 u Richmond 4.00 3.91 4.40 4.34 5.69 5.92 4.78 4.50 4.32 4.00 4.00 3.09 3.22 4.27 4.57 5.74 6.03 4.83 4.27 4 18 3.23 3.55 Atlanta 3.77 3.99 4.27 4.25 5.77 6.12 4.76 4.50 4.36 4.00 4.00 2.71 3.34 4.20 4.57 5.55 6.28 4.15 4.19 3.77 3.33 3.55 Chicago. _ 4.60 3.85 4.30 4.26 6.17 6.40 4.76 4.50 4.37 4.00 4.00 2.28 3.11 4.24 4.33 5.64 5.67 3.50 4.15 3.48 3.16 3.54 St. Louis ... 4.04 3.85 4.29 4.25 5.83 5.97 4.71 4.50 4.39 4.00 4.00 2.34 3.16 4.18 4.36 5.30 5.68 3.36 4.07 2.91 3.16 3.52 Minneapolis 4.80 4.22 4.63 4.33 6.22 6.48 5.12 4.52 4.49 4.00 4.00 2.32 3.16 4.36 4.27 5.26 j__ 4.13 3.73 3.24 3.55 Kansas City 4.77 4.14 4.74 4.68 6.05 6.06 4.95 4.50 4.46 4.00 4.00 2.39 3.20 4.26 4.36 5.45 6.40 4.96 4.26 3.06 3.20 3.55 Dallas 4 49 4 48 4 67 4.64 5.67 6 25 5 08 4 50 4 40 4.00 4.00 3.36 3.40 4.10 4.79 5.49 6.10 3. 67 4.13 3.66 3.18 3.55 San Francisco- 5.01 4.53 4.65 4.51 5.79 5.82 4.42 4.42 4.33 3.57 4.00 2.39 3.25 4.20 4.29 5.61 5.70 3.47 4.14 3.26 3.12 3.55 All banks 4.20 3.61 4.24 4.23 5.88 6.07 4.63 4.46 4.25 3.67 3.95 2.36 3.26 4.14 4.30 5.66 5.70 3.54 4.14 3.31 3.17 3.55 > CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 7.—AVERAGE RATES EARNED ON UNITED STATES SECURITIES GO [Per cent] Prior years Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July AugustSe b p e te r m-OctoberNo b v e e r m-De b c e e r m- Y 19 e 2 a 6 r 1925 1924 1923 d 1926 Boston 3.44 3.31 3.29 3.49 3.43 3.39 3.45 3.41 3.40 3.54 3.49 3.48 3.43 3.31 3.71 3.93 New York 3.68 3.69 3.29 3.60 3.57 3.36 3.49 3.48 3.43 3.59 3.60 3.44 3.51 3.48 3.50 3.94 s50 Philadelphia 3.75 3.76 3.72 3.68 3 65 3.61 3.55 3 42 3.42 3.46 3.46 3.42 3.58 3.95 4.09 4.25 Cleveland _ . 3.70 3.79 3.62 3.65 3.61 3.57 3.58 3.56 3.52 3.56 3.58 3.52 3.60 3.52 3.64 3.96 Richmond 3.46 3.37 3.31 3.38 3.39 3.39 3.30 3.28 3.26 3.31 3.30 3.26 3.34 3.18 3.47' 2.36 Atlanta 3.62 3.65 3.63 3.61 3.60 3 62 3.75 3.52 3.56 3.60 3.57 3.60 3.62 3.47 3.69 3.71 Chicago 3.82 3.83 3.80 3.76 3.71 3.67 3.65 3.66 3.69 3.76 3.75 3.71 3.73 3.70 3.72 3.68 St. Louis 3.65 3.67 3.65 3.61 3.58 3.60 3.55 3.45 3.51 3.56 3.54 3.51 3.58 3.47 3.54 4.21 Minneapolis 3.92 3.93 3.87 3.86 3.83 3.79 3.76 3.77 3.85 3.91 3.88 3.85 3.85 3.84 3.91 4.25 Kansas City _ . . ._ 3.71 3.71 3.72 3.69 3.67 3.71 3.61 3.59 3.64 3.70 3.70 3.67 3.67 3.63 3.87 4.16 Dallas 3.69 3.71 3.70 3.65 3.63 3. 63 3.49 3.49 3.53 3.59 3.59 3.54 3.61 3.58 3.67 3.72 San Francisco 3.59 3.60 3.56 3.57 3.55 3.55 3.47 3.44 3.46 3.53 3.53 3.49 3.53 3.41 3.60 4.19 All banks: 1926 . . 3. 69 3.71 3.60 3.65 3.61 3.56 3. 55 3.52 3.53 3.62 3.61 3.55 3.60 1925 3.51 3 59 3 50 3.58 3.57 3.53 3.54 3.54 3.55 3.62 3.62 3.63 3.56 d 1924 4.26 4.17 4.04 4.14 4.05 3.79 3.68 3.57 3.46 3.44 3.46 3.39 3.67 1923 3 74 3 96 3 99 4 11 4.17 4.02 4.17 4.15 4.07 4.21 4.18 4.03 4.01 50 1922 3.16 3.58 3.72 3.77 3.70 3.67 3.63 3.60 3.65 3.71 3.78 3.79 3.67 > 1921 2 13 2 11 2 24 2 15 2 49 2.40 2.31 2.33 2.49 2.38 2.68 2.92 2.37 1920 2 IS 2.17 2.10 2.10 2.22 2.24 2.15 2.22 2.27 2.20 2.17 2.43 2.21 1919 _ 2.26 2.31 2.41 2.43 2.42 2.33 2.24 2.21 2.17 2.18 2.22 2.19 2.26 1918 3.27 3.25 3.59 3.56 3.06 3.00 2.76 2.87 2.73 2.44 2.49 2.40 2.99 1917 2.64 2.67 2.66 2.36 2.41 2.39 2.67 2.71 2.75 3.06 2.86 2.98 2.68 1916 2.14 2.33 2.14 2.34 2.26 2.29 2.38 2.36 2.38 2.47 2.44 2.38 2.35 50 d Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 8.—AVERAGE RATES EARNED ON TOTAL BILLS AND SECURITIES [Per cent] Prior years Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July August Se b pt e e r m- O b c e t r o- No b v e e r m-De b c e e r m- Y 19 e 2 a 6 r 1925 1924 1923 1926 Boston 3.60 3.63 3.75 3.74 3.69 3.65 3.67 3.67 3.74 3.84 3.85 3.88 3.73 3.35 3.69 4.28 New York- 3.70 3.85 3.73 3.78 3.54 3.44 3.48 3.59 3.79 3.85 3.84 3.80 3.70 3.39 3.53 4.30 Philadelphia- 3.83 3.87 3.87 3.87 3.84 3.79 3.75 3.71 3.76 3.80 3.81 3.83 3.82 3.58 4.02 4.37 Cleveland 3.86 3.86 3.83 3.83 3.79 3.70 3.68 3.65 3.71 3.81 3.85 3.84 3.79 3.47 3.79 4.29 Richmond _ 3.87 3.87 3.88 3.87 3.86 3.81 3.78 3 78 3 82 13.86 3.84 3.83 3.84 3.83 4.24 4.44 Atlanta 3.63 3.72 3.83 3.86 3.82 3.76 3.75 3.74 3.82 13.89 3.90 3.92 3.80 3.63 4.24 4.41 Chicago 3.85 3.86 3.87 3.86 3.79 3.72 3.72 3.71 3.77 3.85 3.88 3.88 3.82 3.69 3.92 4.26 St Louis 3.69 3.75 3.79 3.80 3.75 3.76 3.75 3.73 3.81 3.85 3.82 3.81 3.78 3.59 4.01 4.40 Minneapolis 3.77 3.87 3.85 3.79 3.78 3.71 3.72 3.73 3.79 3.85 3.85 3.83 3.79 3.65 4.10 4.42 Kansas City . _ 3.73 3.76 3.78 3.77 3.75 3.73 3.66 3.61 3.68 3.74 3.79 3.77 3.73 3.56 4.02 4.37 Dallas 3 64 3.70 3.72 3.71 3.70 3.67 3.63 3.64 3.72 3.72 3.80 3.72 3.70 3.50 3.84 4.26 San Francisco „ 3.68 3.70 3.77 3.75 3.73 3.67 3.66 3.64 3.72 3.78 3.79 3.76 3.72 3.39 3.78 4.32 All banks: 1926 3.73 3.80 3.80 3.81 3.72 3.66 3.65 3.67 3.77 3.83 3.84 3.83 3.76 1925 3. 27 3.32 3.41 3.49 3.50 3.50 3.52 3.55 3.56 3.59 3.61 3.68 3.£1 1924-,- 4.39 4,36 4.30 4.34 4.26 4.03 3.80 3.67 3.45 3.30 3.21 3.17 3.83 1923 4.03 4.13 4.26 4.32 4.35 4.36 4.42 4.42 4.41 4.44 4.40 4.38 4.33 3 1922 - 4.62 4.47 4.34 4.25 4.08 3.98 3.90 3.85 3.84 3.88 4.00 4.06 4.11 1921 5.88 5 92 5 90 5 85 5 79 5 67 5 60 5 42 5 35 5 25 4 99 4.74 5.61 1920 4.46 4.88 5.12 5. 23 5.36 5.51 5.72 5.81 5,81 5.94 5.98 5.98 5.50 1919 4,04 4.03 4.02 4.01 3.99 4.01 3,98 3.93 3.91 3.95 4.16 ' 4.29 4.04 1918 3.75 3.81 3.86 4.07 4.29 4.20 4.31 4.27 4.21 4.13 4.19 4.14 4.12 ft) 1917 „ 2.90 3.03 3.14 2.83 2.93 3.08 3.34 3.37 3.41 3.37 3.37 3.59 3.29 1916-.. 2.85 2.70 2.26 2.50 2.47 2.53 2.62 2.69 2.78 2.79 2.72 2.83 2.67 NOTE.—Average annual rates earned (per cent) during 1926 on municipal warrants: Minneapolis, 4; system, 4; on Federal intermediate credit bank debentures: Philadelphia, 3.94; Atlanta, 3.43; Minneapolis, 3.83; Kansas City, 3.89; System, 3.86; on foreign loans on gold: 4.50 for all banks. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

40 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF FEDERAL RESERVE BANKS No. 9.—BILLS AND SECURITIES HELD BY THE FEDERAL RESERVE BANKS, 1914-1926 [ID thousands of dollars] Bills discounted Date S U e e . r c n S u m . r e e G d n o t b v y - Other Total i m b n o B a o u i r l p g k ls e h e n t t se U S c n u ta i r t t i e e ti d s es w M a i r u p ra n a n i l c ts - s b e i T c ll u o s r t i a a ti l n e d s obligations ! 1914 Nov. 27.. 7,383 7,383 7,383 Dec. 31.. 9,909 9,909 205 734 10,848 1915 Jan. 29__ 13,955 13,955 13.180 27,135 Feb. 26... 20,469 20,469 17,417 37,886 Mar. 26— 31, 683 31. 683 21, 579 53,262 Apr. 30... 36, 586 36, 586 25,469 62,055 May 28... 33, 951 33, 951 6,947 23,094 63, 992 June 25__. 25, 996 25, 996 10,379 7,601 i 11,509 55,485 July 30... 29,102 29,102 11,625 ! 7,923 16,107 64, 757 Aug. 27— 29, 275 29, 275 13,564 { 8,836 I 25, 808 77, 483 Sept. 24... 31, 373 31, 373 13,058 I 9,328 ! 24, 945 78, 704 Oct. 29... 30,448 30,448 13,619 i 10, 505 25,014 79, 586 Nov. 26— 32, 794 32, 794 16,179 12,919 27,308 89, 200 Dec. 30... 32, 368 32,368 23,013 15, 797 12,220 83, 398 1916 Jan. 28__. 26,901 26,901 26,314 21, 372 20, 602 95,189 Feb. 25.. 22,827 22, 827 29,054 ! 29, 632 25,403 106, 916 Mar. 31- 21, 267 21,267 40,408 i 40, 275 33, 015 134, 965 Apr. 28- 21,448 21,448 47,585 i 49, 681 36, 933 155, 647 | May 26-. 20, 365 20, 365 52,708 ! 55, 782 44, 946 173, 801 June 30_. 21,188 21,188 71,095 | 57,129 22, 671 172,083 July 28.. 27, 594 27, 594 83,454 | 56, 581 27,220 194, 849 Aug. 25_. 27,032 27, 032 82,146 | 55, 001 27, 863 192, 042 Sept. 29_. 25,953 25, 953 80,625 ! 53,471 24, 028 184, 077 Oct. 27.. 21,131 21,131 86,085 i 51, 904 29, 890 189, 010 Nov. 24_. 20, 501 20, 501 102,092 i 50, 594 22,166 195, 353 Dec. 29.. 30,196 30,196 127,497 I 55,414 8,975 222,082 1917 Jan. 26- 15.711 15,711 97,697 ! 55,769 i 12, 249 181,426 Feb.23.. 20; 266 20, 266 123,966 I 48,118 I 17,124 209,474 Mar. 30- 20,106 20,106 84,473 47,700 I 15,715 167, 994 Apr. 27.. 35,043 35,043 71,400 117,818 | 14,999 239, 260 May 25.. 1,900 45, 687 47, 587 107, 377 117,658 I 14,675 ! 287, 297 June 29_. 25, 546 » 193,546 219, 092 202,270 ! 70,728 I 2,446 I 494, 536 July 27.. 12, 670 125, 789 138,459 195,097 | 1,469 411,978 Aug. 31- 11,867 135,448 147,315 154,591 | 77,927 I 1,230 j 381, 063 Sept. 28_. 65, 923 167,616 233, 539 176,169 I 95.005 ! 224 i 504, 937 Oct. 26.. 209, 230 187,864 397,094 177,590 j110,042 | 233 ! 684, 959 Nov. 30_. 405, 608 350, 790 756,398 205,454 ! 89,096 i 1,429 1, 052, 377 Dec. 28.. 283,421 397,285 680, 706 275,366 I 107,233 | 1,005 1, 064, 310 1918 Jan. 25 312, 520 315,142 627, 662 273,912 123,194 34,902 1, 029, 670 Feb 21 263,905 245, 629 509, 534 296,170 I 222, 657 | 3 3,436 1, 031, 797 Mar. 28-29 301,451 281, 777 583, 228 304,065 310, 769 3 3, 523 1, 201, 585 Apr. 26 642,429 259, 314 901, 743 302,844 78, 853 3 2, 722 1, 286,162 May 31_ 562,993 334, 364 897, 357 256,373 146,924 3 736 1,301, 390 June 28_. 434, 509 434, 666 ! 869,175 216,848 ! 259,066 3 23 1,345,112 July 26.. 673, 231 628, 920 i 1, 302,151 205,274 ! 57,012 3 103 1, 564, 540 Aug. 30_. 896, 228 531,967 I 1,428,195 232,603 ! 56,122 67 ! 1, 716, 987 1 Figures to Nov. 30, 1917, inclusive, represent only member banks' collateral notes secured by Government war obligations and are exclusive of customers' paper similarly secured, the amount of which, however, was small. 2 Includes loans on gold coin and bullion—$21,850,000. ; Includes bill of lading drafts as follows: Jan. 25, 1918, $2,765,000; Feb. 21, $2,824,000; Mar. 29, $2,994,000; Apr. 26, $2,168,000; May 31, $235,000; June 28, $12,000; July 26, $37,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OP FEDERAL RESERVE BANKS 41 No. 9.—BILLS AND SECURITIES HELD BY THE FEDERAL RESERVE BANKS, 1914-1926—Continued [In thousands of dollars] Bills discounted Date S IT e e . r c n S u . m r e G e d n o b t v y - I Other i m b n a o B i u r o l g k p l h e e s t t n se U S c n t u a i r t t i e e t d i s es w M a i r u p r n a a n i l c ts - s b e i T c ll u o s r t i a a ti n l e d s obligations 1918 Sept, 27.. 1, 221, 533 491, 897 1, 713, 430 288, 391 78, 643 i 102 2, 080,566 Oct. 25.. 1, 092, 417 453, 747 1, 546,164 398, 623 350, 311 24 2, 295,122 Nov. 29.. 1, 412, 511 402, 684 I 1, 815, 195 375, 341 121, 796 27 2, 312, 359 Dec. 27.. 1, 400, 371 302, 567 1, 702, 938 303, 673 311, 546 13 2, 318,170 1919 Jan. 31... 1,357,571 I 243, 557 1, 601,128 281, 293 294, 784 2,177, 209 Feb. 28._ 1,667,965 211,855 1,879,820 276, 919 182, 782 2, 339, 525 Mar. 28.. 1,691,010 195, 230 1, 886, 240 248,107 200,935 2, 335, 285 Apr. 25.. 1, 760, 672 j 189, 740 1,950,412 185, 822 218, 636 2, 354, 870 May 29 1,802,893 j 186, 499 1, 989, 392 183, 650 229, 014 2,402, 056 June 27 1, 573, 483 I 244,557 1,818,040 304, 558 231, 569 2, 354,167 July 25 1,616,210 i 251, 392 1, 867, 602 375, 556 239, 400 2, 482, 558 Aug. 29 1,609,296 I 205, 838 1, 815,134 363,138 270, 705 2, 448,977 Sept. 26.. 1, 572, 503 309,779 | 1,882,282 342,491 278, 315 2, 503, 088 Oct. 31.. 1, 681, 082 | 447, 465 2,128, 547 394, 355 301, 254 2, 824,156 Nov. 28.. 1, 736, 033 | 478,176 2, 214, 209 495, 595 314.937 3, 024, 741 Dec. 26.. 1, 510. 364 | 684, 514 2, 194, 878 585, 212 300,405 I---. 3, 080, 495 1920 Jan.30.. 1, 457, 892 716, 465 2,174, 357 561, 313 303, 521 3, 039,191 Feb. 27.. 1, 572, 980 880, 531 2, 453, 511 531, 367 294, 354 3,279, 232 Mar. 26.. 1,441,015 i 1,008,215 2, 449, 230 451, 879 289,922 3,191,031 Apr. 30.. 1, 465, 320 1, 069, 751 2, 535,071 407, 247 293, 514 3, 235, 832 May 28.. 1, 447, 962 1, 071,469 2, 519, 431 418, 600 306,394 3, 244, 425 June 25.. 1, 277,980 1,153, 814 2,431, 794 399,185 352, 296 3,183, 275 July 30.. 1,241.017 1, 250, 613 2, 491, 630 345,305 325, 380 3,162, 315 Aug. 27.. 1, 314, 830 1, 352, 297 2, 667,127 321, 965 300, 580 3, 289, 672 Sept. 24 1, 220, 423 1,484,041 2, 704, 464 307, 624 297, 500 3,309, 588 Oct. 29 1, 203, 905 1, 597, 392 !2, 801, 297 298, 375 296, 371 3,396, 043 Nov. 26 1, 192. 425 1, 542. 975 j2, 735, 400 247, 703 320, 614 3, 303, 717 Dec. 30 1, 141, 036 1,578,098 j 2, 719,134 255, 702 288,191 3, 263, 027 1921 Jan. 31.. 1, 040, 367 1, 416, 750 2, 457, 117 163, 700 287,150 2,907,967 Feb. 28.. 997, 965 1, 391, 545 2, 389, 510 169,421 282, 807 2, 841, 738 Mar. 31. 971, 100 1, 262, 006 2, 233,106 119,340 276,932 2, 629,378 Apr. 30.. 937, 652 1,138,916 2,076, 568 109, 763 267,095 2, 453,426 May 31 787, 244 1, 120,669 1,907,913 75, 457 266,481 2,249,851 June 30 637, 590 1,113,760 1, 751, 350 40, 223 259,184 2,050, 757 July 31 577, 774 1,063,838 1,641,612 17,977 244, 365 1,903,954 Aug. 31 545, 176 946,759 1,491,935 35, 320 230,233 1, 757,488 Sept, 30.. 496, 844 916,169 1,413,013 45, 042 227, 830 1, 685, 885 Oct. 31.. 462, 436 850,591 1, 313, 027 86, 110 192, 521 10 1, 591, 668 Nov. 30.. 476, 360 , 705, 941 1,182, 301 72,954 204, 544 67 1, 459, 866 Dec. 31._ 485, 233 659, 113 1, 144, 346 145, 263 233, 528 379 1, 523, 516 1922 Jan. 31... 363, 586 475, 299 838, 885 74,935 293,085 206 1, 207, 111 Feb. 28.. 284, 614 427,963 712, 577 93, 458 407, 889 242 1, 214,166 Mar. 31.. 260, 781 419, 686 680, 467 105, 270 455, 506 102 1, 241,345 Apr. 29.. 185, 743 324, 361 510,104 90, 677 587, 080 1,187, 861 May 31.. 171, 106 300, 384 471, 490 118,182 603,419 1,193, 091 June 30. 167, 241 294, 177 461, 418 161,112 555, 465 1,177,995 July 31__ 132, 390 273, 788 406,178 140,111 536, 669 1,082,961 Aug. 31.. 126,113 271, 335 397, 448 180,176 507,131 1, 084, 776 Sept. 30.. 162, 780 300,916 463, 696 244, 375 482, 676 1,190, 762 Oct. 31.. 269, 042 307, 393 576, 435 258,165 362, 639 1,197, 263 Nov. 29.. 315, 280 334, 816 650, 096 259, 226 304, 461 1, 213, 807 Dec. 30- 331, 790 285,990 617, 780 272,122 436,155 1, 326, 096 i Includes $31,000 of bill of lading drafts. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

42 ANNUAL REPORT OF THE FEDEKAL RESERVE BOARD No, 9.—BILLS AND SECURITIES HELD BY THE FEDERAL RESERVE BANKS, 1914-1926—Continued [ID thousands of dollars] Bills discounted Date | U S e e . r c n S u m . r e G e d n o b t v y - Otber Total i m b n o B a o u i r l p g k l e s h e n t t j i ! U s S e t n t c i a e i u t t s r e e i s d - s O t e t i c e h u s r e i r i - l F o o a g r n o e s l i d g o n n ! s b e i T l c l u s o r t a i a t n l ie d s obligations 1923 Jan.31 377,482 219, 769 597,251 188, 566 353, 735 1,139, 552 Feb. 28 356, 039 239,721 595,760 207,678 363,074 1,166, 512 Mar. 31 372, 768 326,146 698,914 263, 358 250,360 1, 212, 673 Apr. 30 386, 079 338, 914 724,993 271,573 185,305 1,181,871 May 31 406, 824 363,910 770,734 258,680 191,964 55 1,221,433 June 30 407, 356 429,593 836, 949 205, 600 101, 503 65 1,144,117 July 31 391, 937 433,999 825,936 183,096 98,083 10 1,107,125 Aug. 31_... 412,318 452,244 864, 562 171, 607 101,995 20 1,138,184 Sept. 30.... 401,186 482,367 883,553 173, 258 96, 285 317 1,153,413 Oct. 31 425,650 458,150 883, 800 204,698 | 91,837 317 1,180, 652 Nov. 30.... 406, 533 396,821 803,354 300,207 j104,169 154 1,207,884 Dec. 31 353, 685 369,383 723,068 354,637 133,566 51 1,211,322 1924 Jan. 31 267, 978 264, 282 532,260 | 286,041 ! 126,371 10 944, 682 Feb. 29 257,215 271,748 528,963 267,880 j 165,463 100 962, 406 Mar. 31.... 228, 949 288, 936 517,885 228,247 262,867 51 1,009,050 Apr. 30 161,164 286,021 447,185 124,485 | 301,660 51 873, 381 May 31 164,149 277,217 441, 366 79,549 ! 352,857 551 874, 323 June 30 115,580 218, 374 333, 954 36,524 j 431,085 1,301 802,864 July 31 89,424 203,623 293,047 23,469 522, 897 1,250 840, 663 Aug. 30.... 83,480 191,] 88 274, 668 58,103 542, 211 1,750 876,732 Sept. 30.... 111,591 164, 608 276,199 131,821 ! 576,108 1,750 985,878 Oct. 31 118, 592 145, 549 264,141 200,114 584,205 3,557 1,052,017 Nov. 29.... 132,694 129,330 242, 024 313,572 583,738 2,550 1,141,884 Dec. 31 186, 840 127,288 314,128 387, 100 ! 540, 160 2,050 6,000 ! 1, 249, 438 1925 Jan. 31 169, 539 142, 346 311,885 313,006 390, 953 2,559 10,500 | 1, 028, 903 Feb. 28 263,107 152,777 415,884 315, 300 379, 226 3,452 10,500 j 1,124,362 Mar. 31 207, 594 190,216 397, 810 312,947 i 360,144 1,902 10,500 ! 1,083,303 Apr. 30 233,921 195, 519 429,440 261,623 | 348,318 1,400 10, 500 i 1, 051, 281 May 30.... 228,244 223, 029 451, 273 287, 960 I 348,115 2,250 1,100, 098 June 30 245,321 235,147 480,468 253,507 I 353,273 2,250 10, 500 j 1,099,998 July 31 272, 258 234,061 506, 319 207, 299 328, 612 1,850 10,500 1, 054, 580 Aug. 31.... 308,990 268,211 577, 201 212,040 330,246 2,320 7,500 I 1,129,307 Sept. 30.... 316, 794 316,394 633,188 268,310 342, 906 2,420 10,200 ! 1, 257,024 Oct. 31 299,431 316,751 616,182 346,894 326, 892 3,220 3,240 1, 296, 428 Nov. 30.... 364,373 315,027 679,400 358,635 341,818 3,150 8,147 1,391,150 Dec. 31..... 382,151 253,042 635,193 374, 356 374, 568 3,205 7,800 I 1, 395,122 1926 I Jan. 31 278,562 206,303 484,865 301,633 351,402 3,150 6,415 1,147,465 Feb. 28 341,170 235,473 576,643 300, 947 327,017 3,150 7,900 1, 215, 657 Mar. 31.... 311,487 320,904 632,391 249, 633 329, 837 5,185 8,491 1,225,537 Apr. 30..... 330, 775 240,898 571, 673 209,676 393,104 4,635 | 8,282 1,187,370 I May 31.... 279, 977 548, 066 237, 818 396,488 3,885 ! 8,900 1,195,157 June 30 252,929 262,102 515,031 249,394 I 385,279 3,200 5,502 1,158,406 July 31..... 285, 556 281,186 566,742 215,752 ! 371,816 3,200 1,145 1,158,655 Aug. 31..... 336, 602 304,675 641,277 257, 625 321, 943 3,700 | 1,224,545 Sept. 30.... 332,082 349,258 681,340 280, 350 304, 276 3,700 I 1,269,666 Oct. 31 359, 618 330,465 690, 083 322,782 300,966 2,500 ! 1,316,331 Nov. 30.... 370,349 291, 995 662,344 364, 085 306,368 2,564 I 1,335,361 Dec. 31 365,280 271,348 636,628 380, 986 314, 820 2,621 ! 1,335,055 1 Represents municipal warrants and Federal intermediate credit bank debentures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OP PEDEBAL BESERVE BANKS 43 No. 10.- RESERVES, DEPOSITS, AND NOTE CIRCULATION OF FEDERAL RESERVE BANKS, 1914-1926 [Amounts in thousands of dollars] Reserves Deposits F. R. notes Excess Date Gold Total b s M e e r r e s v m ' e r - e l - m G er o e n v n - - t Total 2 ci t r i c o ul n a- reserve 1914 Nov. 27... 227,840 262, 470 249, 268 2,700 88f 324 174,146 104.2 Dec. 31.... 241,321 267, 899 256, 018 10, 608 93,850 174, 049100.5 1915 Jan. 29 251, 306 272,188 272, 095 14, 500 101,033 171,155 Feb. 26..- 269, 753 298,838 282, 248 22,957 107,970 190,868 Mar. 26... 273,137 296,235 282, 644 33,767 112,433 183,802 Apr. 30 280, 543 307, 061 285,364 46,444 118,455 188, 606 May 28... 298,331 330, 320 284, 615 57, 847 122,754 207, 566 June 25.... 324,183 372, 031 303,038 72,489 135,059 236,972 July 30.... 347,383 369,475 299,105 85,127 138,738 230,737 Aug. 27__. 359,165 379,043 309,999 95, 233 146, 593 232,450 Sept. 24... 405,404 428, 324 15,000 337, 532 115,662 164,401 263,923 94.5 Oct. 29.... 433, 236 470, 294 15,000 350,021 146.025 180,917 289,377 94.8 Nov. 26... 492,163 529, 375 15,000 398, 899 165,304 205, 736 323,639 93.8 Dec. 30.... 542,413 555, 938 15,000 394, 245 189.026 213, 596 342, 342 95.3 1916 Jan. 28.... 555, 241 570,737 27, 760 441, 663 179, 224 226, 272 344,465 91.9. Feb. 25.... 526, 213 543,891 32, 501 435, 793 171, 368 221,075 322,816 Mar. 31... 514, 521 524,459 38,469 445,328 163, 066 221, 091 303,368 Apr. 28.... 487, 029 499, 040 40, 660 439,013 163, 094 218,892 280,148 May 26... 515, 255 537, 227 44,131 504, 299 159, 389 240, 260 296,967 June 30.... 542, 744 570,192 101,152 538, 241 152, 244 249, 282 320,910 July 28.... 527, 536 544,125 56, 542 535, 548 152, 590 248,478 295,647 Aug. 25__. 536,221 548, 486 50,099 530, r" 156, 345 248,341 300,145 Sept. 29... 584, 767 592, 578 529, 360 196, 538 263,891 328, 687 3,033 Oct. 27..._ 617,481 627,457 29, 982 548, 703 214, 622 277, 894 349, 563 1,031 Nov. 24... 701, 501 719, 475 26,319 620,128 240,448 313, 224 406, 251 1,028 Dec. 29 736, 236 753, 774 28,837 650, 665 275,353 337,874 415,900 1917 Jan. 26 791, 245 687, 841 25, 607 259, 768 344,885 463,939 Feb. 23.... 803,324 818, 573 629,475 13,407 677,036 303,171 358, 231 460,342 Mar. 30... 938,046 947,328 711,117 20, 567 706,905 357,610 390,461 556, 867 Apr. 27.... 945,141 975,481 719,785 743, 532 420, 509 428,441 547, 040 May 25__. 977,371 1,014,263 813,326 76,114 796,171 454,402 434,170 580,093 June 29 1,294,512 1,334,352 1,, 0. 33.,,460 300,966 1,261,800 508,753 645,131 689, 221 July 27 1,362,263 1,414,052 1,135,456 143,032 1, 232,200 534,015 644,876 769,176 Aug. 31... 1,353,498 1,406,108 1,069,804 154,358 1,133, 926 587, 915 632,040 774,068 Sept. 28... 1,408,470 1,457, 559 1,136,930 71, 289 1,193,886 700, 212 697,945 759,614 Oct. 26.... 1, 503,436 1, 552,942 1,264,323 132, 221 1,318,798 847, 506 800,581 752,361 Nov. 30... 1,621,725 1,676,2111,489,370 220,962 1, 595, 512l,056,T 981,222 694,989 Dec. 28.... 1,671,133 1, 720, 76811, 453,166 108,213 1,457, 994 1, 246,488 711,875 1918 Jan. 25.... 1,726, 507 1,782,759 1,480,743 135,691 1,492,878 1, 234,9341,016,481 766,278 8,000 Feb. 21.... 1, 772,395 1,832, 524 1,459,720 56,165 1,462, 6271,314, 5811,037,751 794,773 7,999 Mar.28-29. 1,815, 704 1, 874, 06311,499,400 104,086 1,535,367 1,452,838 1,118, 513 755,550 62.7 7,978 Apr. 26.... 1,827,000 1,890,9451,497,416 130,668 1, 556, 3031, 526, 2321,155,199 735,746 61.3 7,895 May 31... 1,917,826 1,975, 709|l, 440,413 166,191 1, 586, 6081,600,968 1,195, 700 780,009 62.0 8,324 June 28 1, 949,021 2,006,199 il, 557, 587 84, 535 1,529,819 1,722,216 1,224,323 781,876 61.7 10,390 July 26.... 1,974,200 2,029,329J1,435,196 233,040 1,622,870 1,870,835 1,316,339 712,990 58.1 11,084 Aug. 30__. 2,013,794 2,066,96211,478, 639 104,729 1,572,898 2,092,708 1,387, 597 679,365 56.4 20,687 Sept. 27... 2,020,813 2,072,17611, 535,490 191, 623 1, 667,1092,349,326 1, 523,218 548,958 Oct. 25 2,045,132 2, 098,169 1, 683,499 278,218 1,723,902 2,507,912 1,606, 5311 491,638 Nov. 29... 2,065,213 2,120,3711,488,893 207,157 1,668,T" 2,568,676 1,611,369 509,002 Dec. 27.... 2,090,274 2,146, 219; 1,587,318 63,367 1, 552,8922,685, 2441,617,610! 528,609 1 Figures not reported separately until January, 1917. 2 Figures shown in this column represent net deposits up to and including Feb. 28,1921, and total deposits thereafter. s Forty per cent against Federal reserve notes and 35 per cent against deposits. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

44 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 10.—RESERVES, DEPOSITS, AND NOTE CIRCULATION OF FEDERAL RESERVE BANKS, 1914-1926— Continued [Amounts in thousands of dollars] Reserves Deposits F. R. F. R. Re- bank Date Gold Total b M e se r e s r ' v m r e e - - m G er e o n n v - t - Total 1 c n i t r o i c o t u e n l s a- r q e u R s i e e r r - e v d e r E e x se c r e v s e s s c p e e e r n v r t - e - n c t b i e n i r i t o o l c i l u t n t i e y l a - a - - 1919 Jan. 31.... 2,112,106 2,179,646 1,,693,132 64,928 1, 659, 457 2, 450, 7291, 561,102 618, 544 53.0 129, 445 Feb. 20.... 2,122, 998 2,188,723 1, 620,972 210, 547 1. 796, 739 2, 472, 3071, 617, 781 570, 942 51.3 134, 042 Mar. 28... 2,142,305 2, 210,524 L, 631,167 168,147 1, 741, 425 2, 521, 7761, 618, 209 592, 315 51.9 145, 540 Apr. 25.... 2,169, 216 2, 240,1521,,664,320| 91,726 1, 752,094 2, 549, 5521, 633, 054 607, 098 52.1 158, 848 May 29... 2,187, 743 2, 255,, 106 1,656,118 141,479 1,830,920 2, 519, 2921, 648, 539 606, 567 51.8 168, 427 June 27.... 2,147, 784 2, 216i,, 256 1,713,030 73,614 1, 750, 694 2,499,180 1, 612, 415 603, 841 52.1 177,185 July 25.... 2, 095,151 2,161:,, 023 1,718,3961116,038 1, 796, 561 2, 504,4971, 630, 595 530, 428 50.2 193, 849 Aug. 29... 2, 066, 788 2,135, 976 1,729,950 54,494 1, 629, 797 2, 580, 6291, 533, 295 50.7 219, 815 Sept. 26... 2,177, 854 2,187, 505 1,731,413 61,276 1, 634, 074 2, 655, 3541, 634, 068 553,437 51.0 239, 451 Oct. 31.... 2,138, 000 2, 205, 592 I,833,4811100,465 1, 850, 518 2, 752, 8761, 748, 831 456, 761 47. 254,933 Nov. 28... 2, 093, 641 2,159, 666 1,, 844, 4341 98,15" 1, 889, 399 2, 852, 2""1, 802, 200 357, 466 45.5 256, 793 Dec. 26.... 2,078, 432 2,135, 536 1,786,874 72,357 1, 704, 470 3, 057, 646 1, 819, 623 315,913 44.8 261,039 1920 Jan. 30.-. 2,012, 656 2, 073,933 1, 850, 712 72, 974 1, 806, 496 2, 850, 9441, 772, 650 301, 283 44.5 250, 530 Feb. 27.-.. 1,966,! 2, 083, 215 1871,96113"39;13 1, 884, 576 3, 019, 9841, 867, 594 215, 621 42.5 237,131 Mar. 26... 1,934, 755 2,057,, 155 1867,125 27, 711 1, 772, 904 3, 048, 0391, 839, 731 217, 424 42.7 201, 392 Apr. 30.... 1,936, 720 2,070,7651 859, 844 37, 592 1, 812, 732 3, 074, 5551, 864, 278 206, 487 42.4 177, 881 May 28... 1, 953,103 2,092,496 1, 852,916 36,433 1,794,440 3,107, 021 1, 870, 862 221, 634 42. 179,185 June 25.... 1, 969, 375 2,108, 605 1, 831,916 14,189| 1,722,223 3,116, 7181, 849, 465 259,140 43.6 185, 604 July 30-.. 1,977, 704 2,128, 640 1808,156 12,167 1,697,245 3,120,138 1, 842, 091 286, 549 44.2 192.168 Aug. 27... 1,971, 825 2,127f,, 827 1818, 502 43,510 1,717,867 3, 203, 63^1, 882, 708 245,119 43.2 200, 793 Sept. 24... 1,989, 835 2,151, 594 1, 800, 677 46, 493 1, 658,464 3,279,996 1,892,460 259,134 43. 6 214,180 Oct. 29--.. 2, 003, 320 2,168, 038 1, 805, 661 18, 754 1, 674, 553 3,351,303 1,926,615 241, 423 43.1 214,961 Nov. 26... 2,023, 946 2,195, 310 1, 711, 774 15, 909 1, 623, 641 3,325,538 1,898,489 296, 821 44. 4 214, 610 Dec. 30--. 2, 059, 333 2, 249,163 1, 748, 979 27, 639 1, 604, 190 3,344,686! 1,899,341 349, 822 45.4 216,960 1921 J F M a e n a b . r . . 3 2 3 1 8 1 . . . . . . . 2 2 2 2, , , , 1 3 1 2 0 2 4 21 3 2 8 , , , , 0 6 6 5 8 8 6 6 5 3 9 0 2 2 2 2 , , , ,, 5 4 3 3 3 0 6 1 6 5 3 9 , , I , , , , 6 7 4 1 4 7 2 1 5 1 1 1 , , 7 7 6 6 0 2 6 5 5 6 1 8 , , , ,6 8 2 5 9 5 2 0 5 3 5 9 3 2 9 5 1 8 0 1 , , , ,6 8 6 6 1 2 6 2 7 4 8 7 1 1 1 1 , , , , 7 6 6 7 3 5 7 8 2 0 0 4 , , , , 2 0 3 6 1 1 9 6 4 0 4 33 2 3 2 , , , , O 8 9 0 4 0 4 8 4 4 8 3 , , , ,1 9 0 5 5 4 1 5 5 8 1 4 | 1 1 1 1 , , , ,8 7 8 7 4 0 8 1 3 6 3 0 , , , ,9 8 9 5 9 7 1 2 4 9 7 5 7 5 6 5 6 5 0 5 1 0 9 8 , , , , 2 7 7 5 3 2 6 5 3 4 1 0 4 5 5 5 9 4 2 0 . . . . 0 8 0 1 2 1 1 1 5 6 8 0 4 9 7 0 , , , ,1 9 8 6 5 4 8 3 9 4 5 3 Apr. 30 May 31... 2,408,058 2,571, 579 1, 601,634 39,080 1, 670, 6242, 751, 869 1, 685, 466 886,113 58. 1 143, 706 June 30.-.. 2, 467, 659 2,627,4941, 603, 845 43,446 1, 675, 2172,648,086 1,645,560 981,934 60.8 132, 568 July 31-.. 2, 543,039 2,697,032 1, 625,123 32, ( 1, 683, 0482, 549, 626 1, 608, 917 1, 088,115 63.7 125, 046 Aug. 31... 2, 641, 061 2, 787,920 1, 618,901. 1,690, 754| 2,481,466! 1,584,348 1, 203, 572 66.8 109, 864 Sept. 30-. 2, 728, 372 2, 879, , 581, 032 98,540; 1,704,807 2,482,427 1,589,653 1,289,678 68.8 100, 378 Oct. 31-... 2, 791, 272 2, 934,9601, 658, 627 43,086! 1,732,898 2,421,426! 1, 575,085| 1,359,875 70.6 85, 515 Nov. 30... 2, 849, 447 2,989,1421, 670, 362 45,913; 1,742,830 2,366,006 1,556,3921 1,432,750 72.7 75, 862 Dec. 31.... 2, 874, 995 3, 010,252 1, 753, 217 95,951! 1,876,082 2,409,392 1,620,385! 1,389,867 70.2 83, 690 1922 Jan. 31.-. 2,908,958! 3,062,705 1, 677, 83; 82, 810 1, 790, 6852,179, 05i 1, 498,361 1, 564, 344 77.2 82,811 Feb. 28.... 2, 946, 739i 3, 079, 784 1, ,710, 249 53, 759 1, 799, 4012,196, 058 1, 508, 214 1, 571, 570 77.1 80, 717 Mar. 31... 2,974, 784J 3,105, 039 1, 708, 761 87, 588 1, 834, 8112,194, 743 1, 520, 081 1, 584,958 77.1 80, 575 Apr. 29.... 2,996, 425! 3,128, 306 1, 754, 844 51,981 1, 849, 4422,169, 420 1, 515, 073 1, 613, 233 77. 77,135 May 31... 3,007,621| 3,130,49' 1, 782, 004 54,295 1, 870,1532,141,184 1,511,027 1,619,470 78.0 70, 553 June 30.... 3,021,767! 3,144,5421, 820, 377 33, 093 1, 883, 3292,152, 962 1, 520, 350 1, 624,192 77. 67, 351 July 31.-. 3,047,949! 3,178,652 1, 760, 824 58, 583 1, 846, 5822,132,145 1, 499,162| 1, 679, 490 79.9 61, 052 Aug. 31... 3,061, 049! 3,195, 558 1, 803, 622 48,446 1, 874, 6882,155, 515 1,518,347 1,677,211 79.3 53, 636 Sept. 30... 3,077,210! 3,207,, 494 1, 857, 260 14, 5111, 897,1822, 268,652 1, 571, 475 1, 636, 019 77.0 44, 005 Oct. 31-... 3,079,966 3,217',, 882 1, 812, 570 34, 355 1, 875, 4362, 301, 777 1, 577,113 1, 640, 769 77.0 34, 961 Nov. 29... 3,072,858 3,202!,, 810 1,, 807, 631 33, 449 1, 860, 2232, 329, 814 1, 583, 004 1, 619, 806 76.4 20, 868 Dec. 30.... 3,047,393! 3,176,872 I,,933, 888 10, 756 1,973, 5322, 395, 789 1, 649, 052 1, 527, 820 72.7 2,770 1923 Jan. 31 3, 075, 810' 3, 227,132 1,913, 46456,014 1,991,062 2,203, 701 1, 578, 354 1, 648, 778 76.9 3,105 Feb. 28.... 3, 072, 813| 3, 201, 600 1, 887, 54532,401 1,952, 3172, 246,943 1, 582,086 1, 619, 514 76.2 2,645 Mar. 31... 3, 059, 592i 3,167, 446 1, 862, 67769, 354 1,961,651 2, 247, 257 1, 585,480 1, 581,966 75.3 2,431 Apr. 30— 3,082, 2821 3,179, 666 1, 864, 75460,290 1,926,109 2,235,435 1, 568,311 1,611, 355 76.4 2,286 1 Figures shown in this column represent net deposits up to and including Feb. 28,1921, and total deposits thereafter. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OP FEDERAL RESERVE BANKS 45 No. 10.—RESERVES, DEPOSITS, AND NOTE CIRCULATION OF FEDERAL RESERVE BANKS, 1914-1926—Continued [Amounts in thousands of dollars] Reserves Deposits F. R. F. R. Re- bank notes Re- Excess serve note Date Gold Total b M er e s' m r - e - G er o n v - - Total ci t r i i cu o n l n a- r q e u s i e r r e v d e reserve c p a e e g n r e t - - n c ti i e o r t c n u l — i l a a - serve i ment bility 1923 May 31_. 3,112,106 3, 201,333 1, 899, 810 28,130 1, 964,1282,245,829 1,585,775 1, 615, 558 76.0 1,724 June 30-. 3,095, 217 3,194, 1, 851, 938•33, 544 1, 914, 04r2,253,033 1,571,128 1, 623, 53" 76.7 1,425 July 31... 3,100, 814 3,190,932 1, 878, 367 35, 811 1, 936, 9382,177, 7431 1, 54fi, 0261, 641, 906 77.6 1. 570 Aug. 31_. 3,105, 903 3,188.5411, 844, 718 46, 551 1,911,730 2, 226, 998^ 1, 559, 9015, 628, 636 77.0 520 Sept. 30.. 3,112,717 3,189, 598 1, 839,142 50, 304 1, 912, 4602, 267, 6201, 576, 4091, 613,189 76.3 485 Oct. 31... 3,111,078 3,191,145 1, 895, 265 40, 334 1, 958, 6602, 224, 8651, 575, 4751, 615, 670 76.3 523 Nov. 30.. 3,101,158 3,185, 277 1, 864, 794 32, 501 1, 919, 2142, 252, 4921, 572, 7221, 612, 555 76.4 498 Dec. 31— 3, 080, 032 3,168,9341,898,315 38,074 1, 959, 5792, 246, 6731, 584, 5221, 584,412 75.3 471 1924 Jan. 31_.. 3.142, 575 3, 261,161l,950,702| 37,582 2, 010, 3222,026,469! 1,514,201 1, 746, 960 80.8 435 Feb. 29... 3.119, 652 3, 220, 804'., 900,149 43,095 1, 964, 4512, 042, 6651, 504, 6241, 716,180 80.4 402 Mar. 31.. 3, 094, 988 3,193, 887 1,885,2371 99,581 2, 006, 3722, 002, 7851, 503, 3441, 690, 543 79. 383 Apr. 30... 3.120, 389 3, 222, 609 1,944,952! 32,503 2, 005, 3811, 926, 0131, 472, 2891, 750,320 82.0 343 May 31-. 3,112, 629 3, 205, 513 1,906,093J 47,477 1, 974, 8071,911,440 1,455, 7591, 749, 75482.5 319 June 30— 3,128,176 3, 238,803 1,944,095! 43,251 2, 010, 3171, 860,9231, 447, 9801, 790, 823 83. July 31... 3.143, 065 3,247,113 2,,090,821! 45,464 2,168,124 1, 763, 9471,464,420 1, 782, 693 82.6 Aug. 30-. 3, 089,127 3,168, 536 2,,059, 517J 36,135 2,128, 2201, 763, 6591, 450,3411, 718,195 81.4. Sept. 30. 3, 046, 723 3,133, 210 2,110,949 56, 254 2,107,101 1, 745, 3951,467,142 1, 666,068 79.5 Oct. 31... 3, 036, 705 3,117,825 2,138,452 26, 976 2,194, 8271, 799,1041, 487,8331, 629,992 78.1 Nov. 29. 3, 025, 316 3,110,009 2,142,820 36, 693 2, 208, 7281, 874, 8331, 522,9881, 587, 021 76.2 Dec. 31- 2, 936, 533 3, 047, 054 2, 220, 436 51,197 2, 310, 6681,862, 0621, 553, 5601,493, 494 73.0 1925 Jan. 31... 2, 909,: 3,054, 745 2,158, 901 57, 661 2, 257, 7641, 705, 6831,472, 4901, 582, 255 77.1 Feb. 28... 2, 878, 078 3,011,, 586 2!,, 174, 8—75i38, 379 2, 246, 8851, 748, 0761, 485, 6411, 525,945 75.4 Mar. 31.. 2, 847, 708 2,986),, 067 2!.,, 113., 602 42, 026 2,183, 9381, 713, 9001,449,938 1, 536,129 76.6 Apr. 30... 2, 848,385 2, 989, 819 2,113355, 005,9;30, 529 2,195, 5371, 690,2591,444, 5411, 545, 278 76.9 May 30-. 2, 816, 523 2, 953, 066 2,124, 572 39, 929 2,195, 0411, 691, 6641,444, 9311, 508,135 76.0 June 30... 2, 790,123 2, 933, 236 2,171, 978 25,462 2, 224,4721, 650,8261, 438,8961,494,340 75.7 July 31... 2, 782, 682 2, 917,303 2,144, 535 22, 202 2,191,807 1, 615, 4871, 413, 3271, 503, 976 76.6 Aug. 31._ 2, 767,267 2,883, 364 2,136, 626 29, 690 2,189, 7781, 645,1381, 424, 4791, 458, 885 75.2 Sept. 30.. 2, 759, 967 2, 865, 534 2, 209, 937 31, 302 2, 267, 9791, 685,1141, 467, 8411, 397, 693 72.5 Oct. 31... 2, 763,311 2, 867, 205 2, 213, 671 39,311 2, 284, 7871, 722, 5581,488, ~~ 1, 378, 507 71.5 Nov. 30.. 2, 715,129 2,823,668 2,197,298 38,687 2, 269,3621, 757, 0871,497,112 1,326, 556 70.1 Dec. 31— 2, 701, 315 2,-8"24, 371 2, n2i1n 2, "0"9"8' | 16,432 2, 257, 3881,838,164 1, 525, 3521, 299, 019 69.0 1926 Jan. 31... 2, 794,739 2, 941,478 2,195, 781 36, 6422,254,313 1,688,322 1,464, 3381,477,140 74.6 Feb. 28— 2, 745,945 2,889, 532 2,186, 509 50,199 2,260,533 1,683,098 1,466,826 1, 422, 706 73.2 Mar. 31.. 2, 766, 873 2, 919, 846 2, 215, 243 85,813 2,323,352 1,656,482 1,475,766 1,444,080 73.4 Apr. 30... 2,768,164 2, 918, 099 2,194, 215 25, 5692,245,909 1,679,716 1,457,954 1, 460,145 74.3 May 31_ _ 2,796, 505 2,947,371 2194, 64728, 7782, 255, 9661, 709, 5481,473, 4061,473, 965 74.9 June 30—. 2, 834, 928 2,,9,7 9,639 ,2, 228,839 10, 7132, 259, 8361, 697, 2791,469,856 1, 509, 783 75.3 July 31— 2, 833, 076 22, 997733,452 2, 205,85433, 9142, 263,4141, 699,8971,472,155 1, 501, 297 75.0 Aug. 31-_ 2, 820, 838 2, 955, 273 2, 224, 62729,190 2, 287,8331,709,871 1,484, 6901, 470, 583 73.9 Sept. 30.. 2, 792, 946 2, 919, 599 2, 209,24346, 0212, 279, 6231, 731,0941,490,306 1,429, 293 72.8 Oct. 31... 2, 799, 092 2, 921,166 2, 222, 94839,309 2, 294, 6351,756,126 1, 505, 5731.415, 593 72.1 Nov. 30.. 2,809,306 2,934,476 2,2311 ,"7"73'36, 9922, 299, 5961,781, 6231, 517, 5081.416, 968 71.9 Dec. 31... 2, 818, 539 ', 853 2,, 194, 09416, 9532, 275, 9791,850,827 1, 536,9241,410,929 71.4 NOTE.—Figures of cash reserves, Federal reserve note circulation, excess reserves, and reserve percentages for dates prior to June, 1917, have been calculated on a basis comparable with figures published subsequent to the passage of the June 21, 1917, amendment to the Federal reserve act, which provides that gold with Federal reserve agent may be counted as part of the bank's required reserves. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 11.—RESOURCES AND LIABILITIES AT THE END OF EACH MONTH [In thousands of dollars} 1926 December, 1925 January February March April May June July August Septem- October No b v e e r m- De b c e e r m- RESOURCES Gold with Federal reserve agents 1, 372,28.1 1,497,280 1, 396,884 1,361, 723 1, 458, 549 1, 443, 772 1, 462,159 1, 440,150 1,405,265 k 388,286 1,404, 507 1, 410, 672 1, 381,874 Gold redemption fund with United States Treasury 54, 091 47,526 52,045 48, 754 54,168 53,317 56,277 53,022 52, 390 65, 251 56,516 55, 425 66, 762 Gold held exclusively against Federal reserve notes 1, 426, 372 , 544,806 1,448,929 1,410, 477 1, 512, 717 1, 497,089 1, 518, 436 1, 493,172 1, 457, 655 1, 453, 537 1, 461, 023 1,466,097 1,448,636 Gold settlement fund with Federal Reserve Board 689,156 596, 491 675, 388 751,935 662, 734 670, 597 656, 073 680, 968 718, 792 737, 027 725, 758 673, 955 665, 261 Gold and gold certificates held by banks. __ 585, 787 653, 442 621, 628 604, 461 592, 713 628, 819 660, 419 658,936 644, 391 602, 382 612, 311 669, 254; 704, 642 Total gold reserves 2, 701, 315 2,794,739 2,745,945 2, 766,873 2, 768,164 2, 796, 505 2,834,928 2,833,076 2,820,838 2,792,946 2,799,092 2,809,306 2,818,539 Reserves other than gold 123, 056 146, 739 143, 587 152,973 149,935 150, 866 144, 711 140, 376 134, 435 126, 653 122, 074 125, 170 129, 314 Total reserves 2, 824, 371 2,941,478 2,889,532 2,919, 846 2,918, 099 2, 947, 371 2, 979, 639 2,973,452 2,955,273 2, 919, 599 2, 921,166 2,934, 476 2, 947,853 Nonreserve cash 63,137 68, 544 59,169 62, 078 50, 610 43, 829 48, 522 47, 347 47, 451 47,239 44, 563 47, S 66, 589 Bills discounted: Secured by United States Government obligations 382,151 278, 562 341,170 311, 487 330, 775 279,977 252, 929 285, 556 336, 602 332, 082 359, 618 370, 349 365,280 Other bills discounted 253, 042 206, 303 i 235, 473 320,904 240,898 262,102 281, 186 304, 675 349, 258 330, 465 291, 995] 271, 348 Total bills discounted 635,193 484,865 576, 643 632, 391 571, 673 548, 066 515, 031 566, 742 641, 27 681, 340 690, 083 662, 344 636,628 Bills bought in open market 374, 356 301, 633 300,947 249, 633 209, 67 237, 818 249, 394 215, 752 257, 625 280, 350 322, 782 364, 085! 380,986 United States Government securities: Bonds 60, 825 59, 747 60,142 70, 054 98, 518 102, 919 81,893 84, 287 45, 472 52, 794 47, 230 47,139 47, 964 Treasury notes 187, 065 180, 795 172, 461 131, 644 160, 640 164,001 232,195 229, 126 217, 765 139,292 135, 997 113, 315 87, 358 Certificates of indebtedness 126, 678 110, 860 94,414 128,139 133,946 129, 568 71,191 58, 403 58, 706 112,190 117, 739 145, 914 179,498 Total United States Government securities _ 374, 568 351,402 327,017 329, 837 393,104 385, 279 371, 816 321, 943 304, 276 300,966 306, 368 314, 820 Other securities 3, 205 3,150 3,150 5,185 4, 635 3, 885 3, 200 3,200 3,700 3,700 2,500 2,564 2,621 Foreign loans on gold 7, 800 6, 415 7,900 8,491 8,282 8, 900 5, 502 1,145 Total bills and securities 1, 395, 122; 1, 147, 465 1, 215, 657 1,225, 5371,187,370 1,195,157 1,158,406 1, 158, 655 1, 224, 5451,269,666 1,316,331 1, 335, 361 1, 335, 055 Due from foreign banks 6411 643 765 643 6671 676 645 699 742 6481 650 651 657 Uncollected items 750,187i 576,613 645,5981 620,294 619,229! 601, 557 641, 109 599, 588 617, 080 698, 242! 657,854 732, 824 730,460 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Bank premises 59,176 59,323 59, 441 59, 538 59, 662 59, 749 59,839 59, 932 60, 012 60, 052! 60,108 58,131 16, 770 16, 726 16,878 14, 759 15, 892 17,234 16, 288 16, 964 16/537 13, 333 13, 386! 15, 255 11, 336 All other resources _ 5,109, 4044,810, 7924,886,968 4,902,598 4, 851, 4054, 865, 4864, 904, 3584, 856, 5444, 921, 5605, 008, 7395,014,0021 5,126,660 5,150,081 Total resources LIABILITIES 1,838,164 1, 688, 3221,689,098 1,656,482 1, 679, 7161, 709, 5481, 697, 2791, 699, 8971, 709, 8711, 731, 0941,756,126 J 1,781,623 1, 850,827 Federal reserve notes in actual circulation _ Deposits: 2, 212. 0982,19*, 781 2,186, 5092, 215, 2432,194, 2152,194, 64'2, 228, 8392, 205, 8542, 224, 6272, 209, 2432,222, 94s! 2,231,7732,194, 094 M G Fo o e r v m e e ig b rn n e m r b b e a a n n n t k k—reserve account 2 1 0 6 8 , , , 2 6 4 4 1 3 7 1 2 3 1 6 6 4 , , , 8 6 9 9 4 9 6 2 4 5 19 4 0 , , , 4 1 3 9 9 3 0 9 5 8 1 5 6 5 , , , 3 8 8 9 1 9 9 3 7 2 2 1 5 4 , , , 6 5 5 2 0 6 3 2 9 2 2 8 8 4 , , , 5 0 7 2 1 7 8 3 8 1 1 5 4 0 , , , 7 5 7 5 1 2 6 3 8 3 16 6 3 , , , 7 9 8 6 1 8 3 4 3 2 1 1 4 9 9 , , , 1 2 7 9 9 1 0 7 9 4 1 6 8 6 , , , 3 0 0 4 2 1 9 1 0 3 2 1 0 9 2 , , , 1 2 3 6 1 0 2 6 9 1 1 1 3 1 3 6 6 , , , 9 9 9 1 9 1 6 2 5 4 1 1 6 8 6 , , , 9 3 5 5 5 7 3 6 6 Q O Other deposits Total deposits 2, 257, 3882, 254, 3132, 260, 5332, 323, 3522, 245, 9092, 255, 9662, 259,836 2, 263, 4142, 287, 8332,279, 6232, 294, 6351 2, 299, 5961 2, 275,979 g Deferred availability items 665,847 518, 803 585, 315 567,879 567, 909 540,181 589, 333 533, 821 561,916 634, 073 596,689! 676,940 660,393 H Capital paidin __ 117,237 118,116 119, 484 120, 427 122,135 122, 666 122, 770 122, 757 123, 430 123, 714 124,3931 124,462 124,814 M Surplus . _. 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 220, 310 j 220, 31 lj 228, 775 All other liabilities 10, 458 10, 928 12, 228 14,148 15, 426 16, 815 14, 830 16, 345 18, 200 19, 925 21, 849! 23, 728 9,293 Total liabilities 5,109, 4044, 810, 7924, 886, 9684, 902, 5984, 851, 4054, 865, 4864, 904, 3584, 856, 5444, 921, 5605, 008, 7395, 014, 002| 5,126, 660J 5,150,081 Ratio of total reserves to deposit and Federal reserve note liabilities combined (percent) 69.0 74.6 73.2 73.4 74.3 74.9 75.3 75.0 73.9 72.8 72.1 71.9 71.4 Contingent liability on bills purchased for foreign correspondents 70, 344 83, 554 83, 689 69, 161 , 580 61, 569 54, 459 52,911 44, 952 45, 296 40, 091 48,736 »9, 453 l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 12.—RESOURCES AND LIABILITIES, BY WEEKS 00 [In thousands of dollars] Cash reserves Bills and securities Gold United States Government securities Date F r a e G w e g s d e o e i e t n r l h r d v t a s e l re U d f G w t u e i . o o i n m S t l n d h . d p- F s m f G w e e u d t e t o i n l e t n l e h d r d - t al h c e G c e g a l a r o d n o t t l i e d l d f d b s i- y re T g s o e o r t l v a d l es s o t g e R h t r o h e a v l e - n d e r s s T e r o r e v t - a e l s Total O r s i e t t c h ie u e s - r l e g F o o i o a o g n l n r n d - s Total Treas- Reserve banks ury Board 1926 Jan. 6..... 1,424,473] 58, 526 638, 643 622, 378 2, 744,020 138,046 2!,, 882,066 74,481 363, 726 229, 743 185,906 124,824 369,419 3,205 7,502 1,318,378 Jan. 13... 1,472,351 49,711 608, 492 668, 479 2, 799,033 150, !, 949, 879 86,9901 305,1041 200, 659 505,763] 327,402 59,410. 184,022 125,363 368, 795 3,158 7,000 1,212,118 Jan. 2O._- 1,517,010 49,159 573, 852 674, 762 2, 814, 783 152,069 21,,966, 852 83,920 251, 872! 201,310 453,182j 305, 85060, 801! 183,595 125,570369,966 3,150 6, 500 1,138,648 Jan. 27... 1,511,514 49, 604 578, 327 661,709 2, 801,154 152,053 2,953,207 81,250 258,2271 190,330 448,557 295,417 59,733 182,873 122,457 365,063 3,150 6,500 1,118,687 Feb. 3... 1, 450,287 46, 135 633, 596 661,914 2, 791,932 147, 328 2,939,260 71,056 298,089; 189, 707 487,796 302,264 59, 738 184,435 105,590 349,763 3,150 6,399 1,149,372 Feb.10_. 1,433,149 51,702 650, 304 659,638 2, 794, 793 144,422 2,939,215 64,425 310,096: 223, 276 533,372 300,519 59,639 168,6731 104,842 333, 154 3,150 7,299 1,177, 494 Feb. 17... 1, 397,967 45,009 688,126 658,194 2, 789,296 150, 860 2,940,156 69,032 315, 972 222, 386 538,358 301,641 59, 978 169,863 104,605 334, 446 3,150 7,000 1,184, 595 Feb. 24.. 1,406,149 46, 334 674,072 640,048 2, 766,603 149,90712,916, 510 66, 298 311, 570! 228,513 540,083 304,128 60, 213 174,954 95,418 330, 585 3,150 7,100 1,185,046 Mar. 3... 1,383,170 50,723 688,567 642, 324 2, 764, 784 148,754|2,913, 538 65, 296 319,423i 263, 791 583, 214286, 60760, 285 171,432 94,041 325, 758 3,150 8,700 1,207, 429 Mar. 10-. 1,408,708 50,406 692,997 647,0471 2, 799,158 151,682!2,950,840 263, 904| 238, 521 502,425 284, 52060,4371 187,335 111,894 359, 666 3, 150 8,798 1,158,559 Mar. 17_. 1,432,402 58,431 i 688, 599 631,833 2,811,265 153,392|2, 964, 657 i, 786 260,479 220,136 480, 615257,138 63, 831 75,418 213, 328 352,577 3,610 7,700 1,101, 640 Mar. 24.. 1,404,307 58,086 713,203 618, 885 2, 794, 481 155, 295 2, 949, 776 66,102! 340, 564 276, 983 617, 547252,228 63, 877 121,308 123,016 308,201 3, 810 8,010 1,189, 796 Mar. 31_. 1,361, 723 49,730 750,959 604,461 2, 766, 873 152, 97312, 919, 846 62, 078J 311,487 320, 904 632,391 249, 63370,054 131,644 128,139 329, 837 5,185 8,491 1,225,537 Apr. 7_._ 1,384,531 47, 741 730,247 620, 827 2, 783, 346 150,305 2, 933, 651 61,484| 290,169 288,383 578,552 229, 77374,997 134,897 132,135 342, 029 5,185 8,800 1,164,339 Apr. 14__ 1,385,430 52,815 715,880 627, 663 2, 781, 788 157,01712,938,8051 62, 838 334, 7351 242,549 577,284 274, 05894,136 143,465! 139,415 377, 016 5,185 8,700 1,242,243 Apr. 21 __ 1,498,448 53,429 617, 881 625,469 2, 795,22? 155,243)2,950,470 60, 768 208, 834j 240,836 449,670 229, 47498, 681149.9991 139,903 388, 583 4,635 8, 700! 1,081,062 Apr. 28.. 1,437, 742 52,247 691,418 615, 686 2, 797,093 156,983 2,954,07i 57, 937 275, 223 j 238,445 513,668 199,017 98, 008150,684! 140,121 388, 813 4,635 8,100! 1,114,233 May 5_._ 1,414,141 45,892 700,106 632, 397 2, 792, 536 158,045 2, 950, 581 57,198| 302,280! 244,901 547,181 213, 38499,092 162,513! 133,721 395,326 4,635 7,500 1,168,026 May 12.. 1,471, 677 46, 657 646,954 638,292 2,803, 580 163,1592, 966, 739 60,486 251,674! 224,740 476,414 228,162 1001,, 9i23 163,223! 132,116 396,262! 4,635 7,401 1,112,874 May 19.. 1,475,479 48,330 644, 552 646, 301 2, 814, 662 116622,,225511 2~, 9"7-6.,, 991133 57,851 260, 670! 229,191 489,861 226,492102, 529 164,988! 131,108 398,625! 3, 885 7,401 1,126,264 May 26- 1,455,119 52, 701 659, 899 648, 347 2,816,066 159,375 2,975>,,441 53,234! 233, 5301 240,4131 473,943 238, 828 102, 990| 161,4971 130,578! 395, 065! 3,885 7,401 1,119,122 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

June 2... 1,450,150 52, 511 662, 400 632,169 2, 797,230149,250 47,134 284,841 240,116 524,957 244,143 103,i, 106169,846 131,200 404,152 3,885 8,900 1,186,037 June 9... 1, 472, 698 56, 536 649,124 654,830 2,833,188 149,3412,982,529 57,227 213,484 234,679 448,163 249,821 1031,,049 180,14" 135,112 418,308 3,885 8,401 1,128, 578 June 16.. 1, 530, 551 45,459 604, 820 655, 7952, 836,625147,7372,984,362 56,169 179,301 214, 029 393, 330 233,159 109,183 166, 945206,107 482, 235 3,200 7,502 1,119,426 June 23.. 1, 467, 699 44,189 662,190 672, 5632, 846, 641148, 8922,995, 53356, 301 225,848 253, 310 479,158 247,236 108, 620205, 401 69, 077383, 098 3,200 6,700 1,119, 392 June 30-_ 1, 462,159 56, 277 656, 073 660, 419 2, 834,928144,7112,979,639 48, 522 252, 929 262,102 515, 031 249,394 81, 893 232,195 71,191 385, 279 3,200 5, 5021,158,406 July 7... 1, 322,166 54, 655 785, 731 644, 2652, 806, 817135,177 2,941L,, < 99443, 240 319,052 293, 515 612, 567 237, 569 77, 001 233, 676 64, 640375,317 3,200 4,900 1, 233, 553 July 14. _ 1,441, 894 53, 209 671, 516 678,992 2, 845, 611145,660 2,991L,,: 271 254, 041 260,889 514, 930 234,19f 79,139 251, 350 60, 592 391, 081 3,200 3,199 1,146, 602 July 21. _ 1, 457, 001 49, 247 652, 813 683,125 2, 842,186 147,091 2f, "9"89,27756,003 229, 708 265, 721 495, 429 217, 439 78,149 244,187 60, 761 383, 097 3,200 3,000 1,102,165 July 28.. 1,436, 384 49, 683 684, 278 680, 576 2, 850, 921US, 289 2, 999,21055, 586 265,239 256,151 521, 390 211,173 83,009 229, 360 56, 870369, 239 3,200 1,300 1,106, 302 Aug. 4... 1, 431,397 53,189 685,178 667,192 2, 836, 956139, 640 2, 976, 59651, 338 281,268 266, 337 547,605 228, 492 83, 262 228, 582 58, 376370, 220 3,200 1,149, 517 O Aug. 11.. 1, 453, 356 49, 729 674, 266 659, 8332, 837,184137,433 2,974, 61751, 968 289,027 259, 984 549,011 230, 968 83, 351 223, 959 58, 372365, 682 3,200 1,148, 861 O Aug. 18.. 1,453, 356 61, 936 661,402 657, 6292, 834, 323137,897 2, 972,22050,812 268,161 266, 383 534, 544 254,122 84, 209 217,192 58, 617360, 018 3,200 1,151, 884 Aug. 25.. 1,442,912 55,153 681, 297 661, 2442, 840, 606137, 281 2, 977,88752, 918 291,408 279, 230 570, 638 254, 61645, 632 216,956 58, 629321, 217 3,700 1,150,171 H Sept. l._ 1, 395, 311 53, 622 732, 717 646, 6612, 828, 311138, 032 2,966,34349, 328 320, 675 305, 673 626,348 253, 481 45, 605 217, 702 55, 657318, 964 3,700 1, 202, 493 Sept. 8... 1.408, 431 53, 954 734, 727 634, 3532, 831, 465130, 5012,961,966 45,483 324, 831 289,436 614,267 265,984 45,459 220,418 46,407 312, 284 3,700 1,196, 235 M S S e e p p t t . . 2 1 2 5 . . . . 1 1 , ,4 3 2 8 9 4 , , 2 6 4 7 7 9 6 5 1 8 , , 8 3 9 3 4 9 6 7 9 4 6 3 , , 6 6 1 5 9 6 6 6 4 3 4 9 , , 9 3 0 2 1 3 2 2 , , 8 82 3 5 2 , , 6 9 6 9 1 7 1 13 3 1 2 , , 4 6 0 4 4 3 \ 2 ,9 9 5 6 "7 5 ,, , 6 0 4 6 0 55 52 2 , , 3 2 5 7 2 5 2 3 6 1 8 9 , , 6 0 0 7 9 6 2 34 9 2 6 , , 9 5 2 6 6 0 6 5 6 6 1 5 , , 6 5 3 3 6 5 2 2 6 7 2 0 , , 4 4 0 8 7 0 4 5 9 1 , , 4 0 0 9 9 3 1 14 4 6 7 , , 4 2 3 1 5 3 2 1 9 0 1 7 , , 4 5 9 4 3 6 4 3 8 0 8 5 , , 1 0 6 2 8 1 3 3 , , 7 7 0 0 0 0 1 1 , , 2 31 4 9 0 , , 9 7 1 3 1 6 o Sept. 29.. 1, 359,115 65, 555 762,134 620, 33" 2, 807,141130,113 2,937';,254 49, 838 365,993 350, 637 716, 630 275, 623 55, 322 138, 305108, 414302, 041 3,700 1, 297, 994 Oct. 6__. 1, 383,196 62, 930 745, 429 621, 789 2, 813, 344128, 674 2,942, 01850,441 288, 717 334, 872 623, 589 273, 26253, 537 135, 379 117,419 306, 335 3,700 1, 206,886 Oct. 13__ 1, 329,143 57, 044 817,152 615, 5832,818,922 126, 305 2, 945, 22747,184 339, 205 364,696 703, 901 291, 312 53, 803 135, 516 118,849 308,168 3,700 1, 307, 081 Oct. 20_. 1.409, 541 51, 568 745, 617 619,140 2, 825, 866128,928 2,954, 79454, 926 290,035 296, 587 586, 622292, 824 53, 287 136,145 117, 532306, 964 2,500 1,188, 910 Oct. 27__ 1, 411, 623 54,130 727, 545 630,029 2, 823, 327130, 750 2,954, 07752, 841 316,185 315, 738 631, 923 307, 541 46, 611 135, 901 117, 662300,174 2,500 1, 242,138 Nov. 3... 1, 337, 772 61,931 789, 574 618,186 2,807,463 127, 222 2, 934, 46, 957 347, 003 328, 895 675, 898 332,098 47, 211 136,416 118, 719302, 346 2,500 1, 312, 842 Nov. 10._ 1,387, 666 62, 770 744, 647 646, 6722, 841, 755128,129r 969, 884 53, 740 287,369 294, 044 581,413 339,901 46,482 113, 003140, 882300, 367 2,500 1, 224,181 Nov. 17.. 1, 397, 938 58, 396 709, 237 685, 5182,851, 089133, 6232, 984, 71256, 379 288,198 278, 789 566, 987 347, 882 47, 630 113, 544146,956 308,130 2,534 1, 225, 533 Nov. 24.. 1, 395,138 54, 844 696, 966 682, 7822, 829, 730128, 201" 957, 93147, 236 335, 499 292,105 627, 604 340, 629 45, 668 112, 583141, 653299,904 2,544 1, 270, 681 Dec. I... 1, 342,346 59, 599 739,979 687, 701 2, 829, 625126, 526 2, 956,15149,116 351,060 294, 416 645,476 368,163 48, 021 112, 912144,975 305, 908 2,564 1, 322, 111 Dec. 8... 1, 348, 339 58, 314 731, 402 690, 338 2, 828, 393121, 0602,949, 45348,920 348, 334 256, 392 604, 726 390,989 56, 436 118, 214 148,933 323, 583 2,563 1, 321,861 Dec. 15.. 1,435, 352 56,229 622,656 716,480 2,830, 717121, 3312,952,048 51,007 321,981 240, 326 562,307 384,125 46,428 82, 216349,595 478, 239 2,564 1,427, 235 Dec. 22 __ 1, 376, 776 65, 407 657, 023 704, 074 2,803, 280106, 985 2,910, 26547, 073 422,397 293, 027 715,424 387, 59346, 858 89, 844177, 704314, 406 2,596 1, 420, 019 Dec. 29-. 1, 369,124 65, 712 658, 330 721, 6452, 814, 811129, 404 2,944, 21568, 348 383,388 327, 543 710,931 378, 798 47, 525 86, 279183, 400317, 204 2,596 1, 409, 529 3 W GO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 12.—RESOURCES AND LIABILITIES, BY WEEKS—Continued O [In thousands of dollars] Deposits Contingent Federal De- liability Date f b o f D a r r o e n u i m k e g s n co i l t U l e e n m c - t s ed p B r i a e se n m s k - s o o A u t r h e r l c e - l e r s r li e a T s b a o o i n u l t i d r a t c i l e e s s ci r r a e c n c s u o i t e l n u t a r e v a t s i l e on M re b e s a m e n r b v k e e r G m ov e e n r t n-F b o a re n i k gn Other Total a f i b v e t i e r a l r m i i e t la y d s - p C a a i p d it i a n l Surplus b o i l A l t i i h a t l e i l - e r s fo o c r n h p f a o u b s r r i e e - l d i l g s n R ce e p n s e t e r a r - g v e e account correspondents 1926 Jan. 6 642 787,184 59,239 16, 860 5,138, 850 1, 777, 628 2,278,123 17, 516 8,097 25,482 2, 329,218 683,994 117,287 220, 310 10,413 79,063 70.2 13.-.. 642 750, 502 59,308 16,456 5,075, 895 1, 733,284 2,279, 741 17,117 7,763 20, 369 2, 324,990 669,225 117,277 220, 310 10,809 81,042 72.7 20 642 719, 719 59, 308 16, 507 4,985, 596 1, 692,021 2,242, 730 27, 628 8,397 19, 560 2, 298, 315 644,929 118,211 220,310 11,810 83, 756 74.4 642 635, 749 59, 323 17,071 4, 865,929 1, 667,266 2,216, 882 28, 935 8,796 17, 623 2,272, 236 576,385 118,251 220,310 11,481 83, 647 75.0 Feb. 3.... 660 628, 838 59, 322 16, 995 4, 865, 503 1, 662, 520 2,215,193 43, 356 4,991 18, 952 2,282, 492 570, 721 118,121 220,310 11,339 83, 543 74.5 10.... 660 613, 554 59,366 16,973 4, 871, 687 1, 667, 844 2,239,050 29,151 9,252 18, 648 2,296,101 556,961 118,411 220,310 12,060 84, 656 74.2 17.... 725 759,089 59, 368 16, 78C 5,029, 751 1, 661,143 2,262,258 39, 929 6, 851 17,480 2,326, 518 690,866 118,934 220, 310 11,980 82, 666 73.7 24 780 697,429 59,368 17,008 4, 942, 439 1, 679, 362 2,202,879 36, 670 5, 450 17, 232 2,262,231 648,557 119,316 220, 310 12, 663 82,168 74.0 Mar. 3_-_- 749 711,125 59, 368 16,918 4,974,423 1,675,354 2,224,329 52,472 6,160 19, 322 2, 302,283 644,103 119, 721 220, 310 12,652 82,408 73.2 10 737 628,454 59,406 17, 775 4, 884, 769 1, 671, 754 2,209,698 48, 554 4,784 18, 253 2,281,289 577,943 119,993 220,310 13, 480 83,009 74.6 17 ... 712 831, 669 59,406 14,134 5,039,004 1,659,210 2,230,282 7,089 5, 971 21,305 2,264,647 761,108 120,394 220, 310 13,335 78, 975 75.6 24 643 635, 857 59,406 14, 732 4,916,312 1, 658,996 2,218,007 68, 892 8,420 18,313 2, 313,632 588,910 120,404 220,310 14,060 71, 016 74.3 643 620,294 59,441 14, 759 4,902,598 1, 656,482 2,215,243 85, 813 5,399 16, 897 2,323,352 567,879 120,427 220, 310 14,148 69,161 73.4 Apr. 7.... 643 635,145 59, 480 15,040 4, 869, 782 1, 652, 878 2,191,635 60, 580 7,954 18, 298 2,278,467 582,779 120,455 220, 310 14,893 68,172 74.6 14 643 768,248 59, 481 16,201 5, 088, 459 1, 681,096 2,283,222 43,280 4,576 16, 074 2,347,152 703,600 120,898 220, 310 15,403 68,202 73.0 21.... 644 711,616 59, 519 15, 780 4, 879, 859 1, 662,284 2,171,145 23, 828 4,494 20,283 2,219, 750 640,652 121,452 220,310 15,411 67, 696 76.0 28-... 660 638,910 59, 537 16,231 4, 841, 584 1, 661, 982 2,202, 831 16,412 5,009 17,874 2, 242,126 579,167 122,129 220, 310 15, 870 66, 568 75.7 May 5 686 644,473 59, 554 16, 831 4, 897, 349 1, 672,016 2,230,801 27, 785 5,227 22,225 2,286,038 581,175 122,186 220, 310 15, 624 65, 509 74.5 12.... 778 690,879 59, 651 16,804 4,908,211 1, 675, 535 2,193, 512 27,484 4,955 19, 733 2,24*5, 684 627, 899 122,408 220, 310 16, 375 . 64,735 75.7 19.... 767 720,133 59, 657 16,997 4, 958, 582 1, 665,240 2,236,640 19, 750 4,950 19, 303 2,280,643 653,606 122, 464 220, 310 16, 319 61, 974 75.4 679 628,953 59,661 17, 392 4, 854,482 1, 672, 817 2,195, 200 24,209 4,798 18, 870 2,243,137 578,476 122, 557 220, 310 17,185 61, 347 76.0 June 2 691 693,424 59, 665 17, 828 4,951,259 1, 704,136 2,225,270 15,792 4,295 15, 833 2,261,190 625,602 122,670 220, 310 17, 351 62, 647 74.3 709 654, 385 59,665 18, 691 4,901, 784 1, 692,939 2,224,486 4,113 6,200 16,464 2,251,263 596, 619 122,713 220,310 17, 940 60,219 75.6 16~"~ 645 882, 869 59, 735 16,142 5,119, 348 1,688,150 2,260,827 6,136 6,307 17, 616 2,290,886 779,434 122, 804 220,310 17, 764 oo, 088 75.0 645 654, 976 59, 739 16,272 4,902, 858 1, 682, 769 • 2,225,306 11,835 5,910 15,173 2,258, 224 600, 319 122, 785 220, 310 18, 451 53, 583 76.0 3o]~._ 645 641,109 59, 749 16,288 4,904, 358 1,697,279 2,228,839 10, 713 4,756 15, 528 2,259, 836 589, 333 122, 770 220, 310 14, 830 54,459 75.3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7__. 646 701,324 59,788 17,966 4,998, 511 1, 737, 500 2, 239,886 12,842 5,728 20,694 2, 279,150 623,289 122,750 220,310 15,512 54,338 73.2 656 790, 806 59, 813 16,874 5,062, 911 1, 707,233 2, 242,190 21,763 4,403 18, 262 2,286,618 709,392 122,766 220,310 16,592 54,088 74.9 726 699, 978 59, 821 16, 903 4,924, 873 1,680,920 2, 208,307 24, 289 4,749 16, 707 2, 254,052 630, 795 122, 591 220,310 16,205 55, 652 76.0 281 729 624, 200 59,821 17, 260 4,863,108 1,671,336 2, 205,126 32,795 5, 954 37,151 2, 261,026 570,800 122,655 220,310 16,981 53,749 76.3 Aug. 4. 697 629,828 59,850 17,459 4,885,285 1,678,096 2, 216, 700 28.108 8,600 15, 826 2, 269, 234 577,963 122,991 220,310 16,691 51, 877 75.4 684 630,072 59, 896 17,539 4,883, 637 1, 682,214 2, 225, 644 15,202 10, 793 16, 237 2,267,876 572, 872 123,108 220,310 17,257 50,807 75.3 681 701,434 59, 914 17, 992 4, 954, 937 1,685,791 2,215, 239 32,857 7,646 16, 579 2, 272,321 635, 591 123,441 220, 310 17,483 49, 776 75.1 25^ 693 616, 510 59, 931 16, 626 4,874,736 1, 692,637 2,203,634 25,618 12,436 16, 291 2, 257, 979 561, 967 123,467 220,310 18,376 47,845 75.4 Sept. 1_ 744 620,052 59, 931 16, 696 4, 915, 587 1,702,902 2,223,902 24,326 15,166 18,926 2, 282,320 568,299 123,490 220,310 18, 266 44,875 74.4 669 667, 549 59, 938 16, 754 4,948, 594 1,746, 524 2, 207,185 5,565 11,339 18, 235 2, 242,324 596, 902 123, 711 220,310 18, 823 44,824 74.3 O 648 895, 695 59, 991 13,476 5,306,963 1,724,068 2,369,136 4,084 15,641 28, 485 2,417, 346 802,314 123, 787 220,310 19,138 44, 228 71.6 o 22I 648 749, 939 60,001 13, 901 5,075,315 1, 716,087 2,230, 591 67, 613 14, 840 18, 959 2,332,003 663, 202 123, 839 220,310 19, 874 45,124 73.1 29 _ 648 675, 918 60,007 13, 704 5,035,363 1, 716, 466 2,248, 876 51,703 11,829 17,978 2,330,386 624,068 123,796 220,310 20,337 45,296 72.6 Oct. 6-_. 717 731, 422 60,012 13,409 5,004,905 1, 730,973 2,211,909 23, 557 6,586 17, 795 2, 259,847 649,4S3 123,855 220,310 20, 437 45, 385 73.7 1—1 718 747,408 60, 014 13, 789 5,121,421 1, 756, 299 2, 217,091 30, 560 5,894 20, 681 2, 274, 226 725, 275 123, 901 220, 310 21,410 43, 981 73.1 C 201 650 807, 680 60, 039 13, 561 5,080, 560 1, 729,833 2, 213, 488 19,416 6,855 17, 797 2, 257, 556 727, 440 124,002 220,310 21,419 42.853 74.1 27 _ 650 693, 558 60, 047 13, 752 5, 017, 063 1, 730,511 2, 216,896 38, 546 8,258 17,431 2, 281,131 638, 465 124,392 220,310 22, 254 40, 945 73.6 Nov. 3. 650 695, 976 60,051 13, 961 5,065,122 1, 755,430 2, 207,325 32, 932 12,186 23, 976 2, 276,419 665,233 124,379 220,310 23,351 40,344 72.8 10_ 650 704, 567 60, 051 14,161 5,027,234 1, 750, 788 2, 218, 651 17, 867 9,938 18, 413 2, 264, 869 643,311 124,885 220,310 23,071 46,093 74.0 651 854, 986 60,084 14,772 5,197,117 1, 750, 281 2, 238, 208 29, 226 12,973 20, 713 2,301,120 777,322 124, 906 220, 310 23,178 49,177 73.7 24. 651 694, 469 60, 093 14, 924 5,045, 985 1, 774,054 2, 202,406 28,118 13, 883 17, 904 2,262,311 641,028 124, 441 220, 310 23,841 48,887 73.3 ft Dec. 1- 652 729, 046 60,106 15,339 5,132, 521 1, 771,626 2,257,165 35, 689 14, 065 17, 441 2,324,360 667, 987 124,462 220.310 23,776 48,889 72.2 ul 651 669, 517 60,125 15, 710 5,066,237 1,803, 787 2, 230, 971 25, 798 13,459 18,361 2,288, 589 604,185 124, 734 220,310 24,632 48,837 72.1 650 894, 699 60,148 13,919 5,399,706 1,840,132 2,353,883 6,170 6,204 26, 223 2,392,480 797,018 124, 752 220,310 25,014 50,491 69.7 22- 650 785,171 60, 271 13,154 5, 236, 603 1, 913,960 2, 218,095 67, 848 5,506 16. 513 2,307,962 644, 012 124, 763 220, 310 25, 596 52,437 68.9 651 728, 043 60, 273 13,074 5, 224,133 1, 857,015 2, 264,144 38, 579 25,882 17,133 2,345, 738 650, 096 124,824 220,310 26,150 55,857 70.1 w ft ft ft o< Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

52 ANNUAL BEPOBT OF THE FEDEBAL BESEBVE BOABD No. 13.—RESOURCES AND LIABILITIES IN DETAIL, DECEMBER 31, 1926 l [Items in bold face type are those shown in the board's weekly statement; items in roman type represent balance sheet items that are combined into the next following bold-faced item] [In thousands of dollars] RESOURCES Gold with Federal reserve agent _ 1,381,874 Gold redemption fund with United States Treasurer _ _ 66, 762 Gold held exclusively against Federal reserve notes 1,448, 638 Gold settlement fund with Federal Reserve Board 665, 261 Gold bullion and coin 297, 637 Gold certificates _ 407,005 Gold and gold certificates held by banks 704,642 Total gold reserves 2, 818, 539 Legal-tender notes _ 46,985 Silver certificates..1 68,035 Standard silver dollars _ _ _ 14, 294 Reserves other than gold __j* _ 129,314 Total reserves 2, 947, 853 National bank notes. fc 53, 512 Federal reserve bank notes ' 49 Subsidiary silver, nickels, and cents 13.028 Nonreserve cash 66,589 Bills discounted— Secured by United States Government obligations _ 365, 280 Other bills discounted 271, 348 Total bills discounted 636. 628 Bills bought in open market 380,986 United States Government Securities: Liberty bonds _ 38,044 Bonds issued since 1921 _ 6,721 Other bonds 3,199 Bonds - 47,964 Treasury notes 87,358 Certificates of indebtedness. 179,498 Total United States Government securities 314,820 Federal intermediate credit bank debentures 2, 500 Municipal warrants 121 Other securities _ _ 2,621 Total bills and securities 1,335,055 Due from foreign banks _ _ _ _ 852 Transit items 650,277 Exchanges for clearing house. 39, 589 Other cash items 16,013 Federal reserve notes of other Federal reserve banks 24,797 Uncollected items 730,676 Bank premises -_ 60,199 Claims account closed or suspended banks 7,447 Overdrafts—member banks 202 Premium on securities 1,004 Interest accrued. 1,284 Deferred charges 560 Suspense account and miscellaneous assets 1,408 All other resources 11,905 Total resources ._ 5,152,929 Federal reserve notes: LIABILITIES Outstanding (issued to Federal reserve bank) _ 2,260, 823 Less- Held by bank and branches 390, 432 Forwarded for redemption 19,564 Federal reserve notes in actual circulation 1, 850,827 Digitized for Fi BReAfoSreE cRlo sing books at end of year. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF FEDEKA.L RESERVE BANKS 53 No. 13.—RESOURCES AND LIABILITIES IN DETAIL, DECEMBER 31, 1926—Con. | In thousands of dollars] LIABILITIES—continued Deposits: Members—reserve account. _ .__ 2.193, 305 Government - 16,135 Foreign bank „• 46,356 Nonmembers clearing account _ 15,527 Officers'checks _. .. 2,151 Federal reserve transfer and exchange drafts _ _ 383 Allother - 515 Other deposits _ __ _ 18,576 Total deposits _ __ 2,274,872 Government transit items _ - 10,285 All other transit items _._•_ - 650,108 Deferred availability items 660,393 Capital paid in _ _ 124,814 Surplus.. _ _ __ 220,310 Earnings: Gross earnings.. 47,600 Current expenses ._ 27,349 Current net earnings 20,251 Add— Profit and loss _ 186 Other real estate—net income _- _ 50 Deduct— Furniture and equipment ., 533 Dividends accrued since closing of books _ 7,329 Net earnings available for depreciation allowances, reserves, surplus, and franchise tax 12, 625 Reserve for self-insurance _ 1,997 Reserves for losses account failed or suspended banks _._ 2,803 Miscellaneous reserves 285 Accrued dividends unpaid - _ 823 Unearned discount— 2,168 Accrued taxes, other than franchise tax, unpaid _ _ 511 Discount on securities - 102 Suspense account and miscellaneous liabilities 899 All other liabilities 22,213 Total liabilities 5,152,929 Contingent liability on bills purchased for foreign correspondents 59,453 38494—27 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENTAGES: AVERAGE DAILY FIGURES Oi [Amounts in millions of dollars] Total deposits Members reserve deposits Government deposits Other deposits 1926 1925 1924 1923 1922 1921 1926 1925 1924 1923 1922 1921 1926 1925 1924 1923 1922 1921 1926 1925 1924 1923 19221921 January... 2, 2892,277 1,801 1,823 2,236 2,194 1,911 1,918 1,707 1,773 24 40 44 17 65 30 43 25 47 24 February.. 2, 2752,234 1,814 1,804 2,208 2,159 1,892 1,901 1,689 1,728 41 32 40 44 92 26 42 22; 25j 26 March 2,277 2,193 1,795 1,809 2,198 2,137 1,915 1,873 117,711111,694 53 26 54 66 44 27 30 22! 22 33 April 2,252 2,181 1,823 1, 7502,183 2,123 1,905 1,869 1,733 1,665 42 30 76 55 50 26 27 23j 21 34 May 2,253 2,191 1,877 1,717 2,199 2,132 1,922 1,874 1,783 1,657 28 31 34 39 58 26 28 24 36 32 June. _._ 2,241 2,209 1, 893!1,723 2,206 2,141 2,001 11 ,886677 1,882200 1,664 12 42 43 36 39 23 25 21! 28 31 July 2,262 2,204 1,882 1,696 2,212 2,160 2,046 1,8671 1,812 1,639 26 18 36 29 42 24 27 28: 24 27 August 2,253 2,209 1,860 1, 6912, 2012,151 2,072 1,835 1,799 1, 621 25 33 35 33 36 27 25 33! 22 26 September. 2,273 2,214 1,866 1,716 2,211 2,161 2,120 1,848 1,811 1,629 32 27 37 38 32 30 26 31! 22 27 October.._ 2,280 2,266 1,876 1,728 2,219 2,203 2,141 1,864 1, 8361, 652 34 34 41 32 19 27 30 26: 23 26 N De o c v e e m m b b e e r r . . 2 2 , , 2 2 7 9 9 0 2 2, , 2 2 8 9 1 4 1 1 , , 8 8 9 9 0 1 1 1 , , 7 7 3 5 3 5 2 2 , , 2 2 1 1 4 8 2 2 , , 2 2 2 1 1 9 2 2, , 1 1 8 6 2 4 1 1 , , 8 8 7 82 5 | ! 1 11 , 8 ,88 4 22 0 551 1 , , 6 67 6 3 3 2 4 8 0 3 3 2 1 2 4 9 2 3 2 2 8 3 2 8 3 3 3 2 7 3 4 2 1 3 3 1 0 ! 3 2 2 1 2 2 8 7 Year 2, 269| 2, 230| 2, 092| 1,93- 1, 8561,745 2,209 2,167 2,023 1,873 1,7811,671 32 31 42 37 44 28 32 27 29 Cash reserves Federal reserve notes in circulation Reserve percentages Month 1926 1925 1924 1923 1922 19211926 1925 1924 1923 1922 19211926 1925 1924 1923 1922 1921 January... 2,922 3, 0733,242 3,202 3,044 2,287 1,754 2,113 2,289 2,272 3,178 72.5 76.2 79.2 75.0 147.5 February _ 3,042 3,2391 3,209 3,070 2,344 1,715 2,035 2,245 2,177 3,069 74.1 77.0 81.2 76.1 76.9 !49.6 March 2,934 3,000 3,222; 3,191 3,096 2,403 1,731 2,014 2,253 2,195 2,979 74.3 76.4 80.5 75.7 77. 50.2 April 2,933 2,979 3,202l 3,177 3,115 2,485 1,709 1,971 2,236 2,190 2,871 74.7 76.6 80.5 76.0 77.6 53.8 May 2,952 2,977 3,222 3,180 3,127 2,542 1,685 1,915 2,243 2,153 2,787 74.9 76.8 82.7 75.9 77.6 56.4 June 2,976 2,953 3,247 3,204 3,136 2,606 1,660 1,871 2,247 2,138 2,683 75.4 76.3 82.5 76.7 77.8 59.1 July..... 2,970 2,922 3,249 3,181 3,158 2,655 1,636 1,825 2,242 2,157 2,605 74.7 76.1 82.6 76.4 78.2 61.7 August.. 2,966 2,897 3,211 3,194 3,196 2,740 1,626 1,757 2,229 2,151 2,512 75.0 75.5 82.4 77.6 79.7 65.2 September. 2,950 2,873 3,157 3,187 3,192 2,836 1,750 2,264 2,225 2,494 73.6 73.8 80.1 76.4 78.0 67.4 October 2,935 2,867 3,124 3,194 3,212 2,906 1,714 1,769 2,276 2,309 2,456 72.8 72.0 78.5 76.1 76.7 69,4 November _ 2,955 2,878 3,131 3,200 3,209 2,964 1,724 1,836 2,257 2,325 2,402 73.0 71.6 77.1 76.3 76.1 71.7 December.. 2,929 2, r"" 3,057 3,169 3,166 2, 995 1,817 1,884 2,292 2,416 2,416 70.6 68.5 73.8 75. 0| 73.5 71.8 Year. _ 2,946 2, 3,192 3,191 3,144 2, 649 1, 723 1, 704 1, 895 2, 256 2, 226 2, 77032.8 74.7 80.1 76. ll 77.0 59.6 1 Calculated on basis of net deposits]and Federal reserve notes in circulation, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 15.—BILLS AND SECURITIES: AVERAGE DAILY HOLDINGS, BY CLASSES [Amounts in millions of dollars] Total bills and securities 1 Discounted bills Purchased bills United States securities Month 1926 1925 1924 1923 1922 1921 1926 1925 1924 1923 1922 19211926 1925 1924 1923 1922 1921 1924 1923 1922 O January... 1,231 1,072 1,001 1,191 1,304 3,035 526 267 580 549 969 2,536 327 329 303 221 99 118 421 236 298 o February. 1,176 1,050 922 1,153 1,215 2,869 525 338 516 611 773 2,409 306 314 272 187 8: 134 355 355 287 M A M p a r r i c l h 1 1 , , 1 1 7 5 6 9 1 1, , 0 0 6 7 0 9 9 9 4 5 0 2 1 1, , 1 1 6 7 5 9 1 1. , 1 1 9 9 0 1 2 2 , , 7 5 3 2 6 7 5 5 5 4 9 0 4 3 0 9 4 2 4 4 9 7 5 9 6 6 6 2 0 9 640 2 2, , 1 3 4 0 0 2 2 23 7 6 0 2 28 9 9 8 2 1 3 7 0 3 2 2 7 3 5 2 9 9 3 3 2 2 4 7 3 2 2 3 3 1 0 8 4 52 5 0 8 2 2 7 9 7 6 a b May.-' 1,155 1,049 840 1,173 1,189 2,354 515 398 435 708 482 1,967 231 278 81 271 103 323 194 604 303 June 1,140 1,061 843 1,125 1,167 2,175 476 438 375 744 439 1,818 244 265 51 225 135 416 155 593 302 o July 1,167 1,065 826 1,120 1,128 2,013 549 482 318j 837 428 1,725 231 233 44 186 154 462 97 546 261 August 1,158 1,092 837 1,078 1,053 1,842 556 545 270 811 396 1,555 245 206 28 177 159 537 90 498 249 September 1,225 1,164 931 1,123 1,113 1,740 642 594 263 j 848 416 1,445 264 224 90 173 210 575 102 487 255 October... 1,269 1,256 1,006 1,151 1,185 1, 641 666 622 241 j 875! 484 1,377 294 296 1 184 252 585 92 449 208 November. 1,270 1,T" 1,085 1,148 1,210 1,520 618 596 229 802 624 1,233 347 352 266 262 260 587 84 326 208 s December. 1,381 1,429 1,221 1,200 1,304 1,517 672 691 302 775 663 1,185 385 357 322 261 555 103 380 226 Year 1,209 1,140 950 1,151 1,187 2,160 482 375 738 573 1,804 281 287 172 227 159 92 359 401 186 455 264 1 Including municipal warrants, Federal intermediate credit bank debenture bonds, and foreign loans on gold. 3 Ox 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Ho. 16.—BILLS AND SECURITIES: AVERAGE DAILY HOLDINGS OF ALL CLASSES COMBINED [In thousands of dollars] Prior years Feder b a a l n r k eserve January Fe a b r r y u- March April May June July August Sep be t r em- October No b v e e r m- De b c e e r m- Y 1 e 9 a 2 r 6 , 1925 1924 1923 1926 Boston 128, 673 108,148 85,343 79, 266 66, 805 58, 398 73,374 69, 679 79,839 83,319 80,336 104,026 84,688 94,353 65,874 81,267 New York... 245, 922 297, 330 274, 928 240, 931 283,406 268, 217 289,991 271, 018 286,126 267, 654 267, 497 338, 620 277, 606287, 280233,309 262,812 Philadelphia 91, 284 98,385 99,405 92,134 88, 623 89,323 88, 354 87, 370 90, 429 97,167 93, 579 109,102 93, 751 86, 506 71, 608104,363 i Cleveland 105, 029 91,998 108,604 112, 971 107, 886 107, 534 97,603 95, 722 106, 020 132, 097 142, 340 160,128 114,140 111,919 95, 286106, 765 Richmond _ 51,912 53, 746 59, 645 63, 720 64, 028 68, 332 61, 111 65, 391 65, 618 65, 996 56,987 49, 211 60,495 55,095 49,976 62,736 Atlanta 102, 598 74,795 72, 818 72, 969 63,432 67, 738 69,430 77, 854 87, 832 90, 703 86,423 74, 523 78, 375 55, 679 43, 705 59, 596 Chicago. ___ 162, 760 144, 341 151,354 158,377 139,614 144, 557 151,979 144, 567 155, 790 179, 904 199,188 215, 642 162,464 137, 259124, 234148, 766 St. Louis. . 67, 946 62,134 63,668 60, 745 62,478 62,452 63,324 66,000 69,183 64, 609 66, 398 68, 755 64, 831 56, 281 40, 838 62,368 Minneapolis 34,384 30, 887 31, 079 41, 424 41, 704 37, 241 36,482 43. 371 42, 993 47, 998 38, 832 35, 692 38, 552 37, 285 36, 845 37,120 Kansas City. 68,056 66, 678 63, 669 67, 313 68, 256 68, 489 62, 680 60,102 56, 819 57, 356 63, 396 60, 736 63,600 57, 239 49, 042 63, 943 Dallas 63,163 52, 948 49,148 50, 291 52,181 54, 013 52,409 56, 741 57, 868 54, 509 53,101 46, 895 53, 608 49, 325 50, 636 53, 218 San Francisco 109, 610 94, 938 116, 778 118, 750 116, 778 113,514 119, 827 120,449 126, 719 128,044 121,980 117,241 117,199 111,286 88,964 107,616 Total: 1926.1, 231, 3371,176, 3281,176, 4391,158, 8911,155,191 1,139, 8081,166, 5641,158, 2641, 225, 2361, 269, 3561, 270, 0571,380, 5711, 209, 309 1925 1, 072, 0771,050,323 1, 078,9121,060,066 1,049, 2321, 060, 6671,065,252 1,092,264 1,163, 8981,255, 6311, 288, 7311, 428, 7321,139, 507 1924 1, 000, 668 921, 588 951, 774 940, 493 839, 571 842, 963 825,999 836,534 930, 965 1,005, 7421, 085,0271,220, 706 950, 317 1923. 1,191,191 1,152, 8621,178,919 1,164, 6061,173,194 1,124, 8911,119,787 1,078, 2041,123, 4721,150, 5931,147,765 1, 200,3511,150, 570 1922 1,304,163 1, 215, 2201,191, 0131,190, 0041,188, 8491,166, 6171,127,888 1, 053, 0981,113, 3431,184, 7001,210,126 1,304,433 1,187, 270 1921. 3, 034, 6552, 869, 2332, 735, 7842, 527,2532,353,794 2,175,175 2,012,699 1,841, 5961, 740, 4741, 640, 7401, 520, 2831, 517,1942,160,179 1920. 3, 043, 9523,153,994 3, 211, 9363,191, 9453, 255,8593, 209, 6503,200, 9733, 233, 8623, 329, 4813, 390, 0893, 375,3953,313, 5023, 242,679 1919 2, 213, 5112, 225, 6862,318, 4222, 341, 7242, 391, 7742, 323, 9922,478,863 2, 442, 6272, 471, 5152, 709, 3302, 907, 8033, 034, 2242, 487, 483 % 1918. 1, 026, 3651, 001,9541,122,693 1, 237,3681,265,748 1,274,898 1, 439,2861, 607, 7091, 920, 0572,194, 7072, 273, 5992, 298, 3131, 557, 058 1917 198, 234 199,860 182,804 229,856 275,310 432, 291 422,269 372,358 438,753 603, 544 883,252 1, 016,938 440,499 1916. 92, 502 103, 619 126,142 149, 306 168, 538 164,893 189,824 193,458 188,510 188,358 188,414 221,301 164, 583 tel w Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 17.—DISCOUNTED BILLS: AVERAGE DAILY HOLDINGS [In thousands of dollars! Prior years Feder b a a l n r k eserve January Fe a b ry ru- March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- Y 19 e 2 a 6 r, 1925 1924 192S 1926 Boston 31,895 38, 775 35,151 28,450 27,068 24, 816 34,529 36, 653 45,498 42,180 38,031 55, 726 36,572 33,408 18, 760 52,633 N Ph e i w la d Y e o l r p k hia . 1 4 6 8 3 , , 1 2 7 4 2 7 1 5 8 6 0 , , 2 15 4 2 8 1 5 4 9 0 , , 9 8 0 1 1 3 1 5 2 3 9 , , 2 2 0 9 2 5 1 4 36 9 , , 7 7 2 6 2 7 1 4 1 9 7 , , 2 7 4 8 3 5 1 4 6 8 5 , , 1 9 3 8 5 3 1 4 6 5 3 , , 2 8 7 5 0 1 1 4 8 6 2 , , 4 2 4 2 7 4 1 4 6 9 4 , , 9 5 1 7 8 9 1 4 3 3 4 , ,9 82 0 6 8 1 6 5 0 4 , , 5 7 7 8 0 5 1 5 5 0 2 , , 9 7 3 1 1 4 1 4 5 3 1 , , 4 1 6 9 6 0 6 3 5 1 t , 3 8 1 0 5 8 1 5 8 9 7 , , 8 2 4 8 6 2 M Cleveland. 59,208 42,669 56,611 56,207 52,071 43,977 37,221 33, 666 44, 966 70, 386 75, 602 90,051 55, 323 53,024 32, 679 51,717 o Richmond 38,035 38, 287 43,558 45,066 46, 637 47,366 41,775 44,918 46, 359 45, 664 35, 516 29,620 41,911 43,025 44,070 59,590 Atlanta... 26,953 26, 617 40,006 44,354 35,183 38, 384 42,011 47, 585 55, 345 55, 681 50,455 47, 553 42, 626 22,812 35,152 44,283 Chicago 80,112 66, 948 75,507 75,266 56, 311 52,547 60.854 54, 591 67, 736 89,224 105, 702 119,165 75.400 53,050 46,795 86,046 St. Louis 19, 680 20, 773 26,126 28, 236 26,662 28, 536 30, 642 35,196 43,462 42,163 37, 548 37, 844 31,460 20,945 25,987 43, 754 Minneapolis 4,676 6,369 6,699 6,386 6,920 5,254 7,556 13, 076 11,212 11,145 8, 613 5,101 7,761 5,767 12,875 24,103 Kansas City 15, 511 17,063 17,499 19,044 20,149 18,472 16,164 12, 693 13, 542 12,455 16,866 13, 663 16,076 9,053 19,252 39, 861 Dallas 7,463 5,841 6,641 7,400 9,832 11,921 16,138 20,139 25, 000 19,451 17,223 10, 320 13,149 6,315 12,081 25,993 San Francisco 31,090 25, 307 50,283 46,688 47,237 37, 743 47,958 48,161 60,006 62, 720 54, 077 47, 324 46,690 39,460 30,060 63,006 Total: 1926_. 526,042 525,049 558, 795 539, 594 514,559 476,044 548,966 555, 799 641, 797 665, 566 618, 367 671, 722 570, 613 1925 . 267,424 338,493 391,654 404,040 398,413 437,621 482, 321 544, 917 594, 083 622,289 595,997 690,896 481, 515 1924.. 580, 371 516,171 479, 369 494, 537 435,429 374, 592 318,252 269, 665 262, 755 240,907 229,039 301,716 374,834 1923 548, 969 610, 755 628, 519 659,932 708,394 744,306 837,039 811,251 847, 885 875,158 801, 388 774, 733 738,114 1922.. 968, 971 772,417 640, 303 576,631 481,626 438, 789 428, 327 396, 242 416, 612 484,443 623, 825 663, 562 573,247 1921. 2, 536,105 2,408, 792 2,301,628 2,139, 982 1, 966,646 1,817,749 1, 725,162 1, 554, 702 1, 445, 690 1, 376, 914 1,232, 576 1,185, 432 1, 804,305 1920 .2,142, 788 2,298, 917 2, 386, 537 2,440, 376 2, 537, 551 2,461,022 2, 519,044 2, 605,113 2, 677, 052 2, 782,055 2, 776,457 2,730,360 2, 530, 379 1919._1, 734, 655 1, 763, 226 1, 861, 532 1,919,461 1,973,926 1,842,112 1, 867, 920 1, 801, 887 1, 777, 334 2, 073,416 2,145, 631 2,157,021 1,908,198 w 1918. 611,235 531, 541 567,475 769,259 902,102 938,442 1,165, 649 1, 337, 701 1,603,153 1, 709, 766 1, 768, 746 1, 749,156 1,140,053 > 1917.. 20, 877 17,900 18,191 24,903 42, 710 151,234 147, 797 134, 988 182, 439 313,771 568, 352 664,154 193,082 1916.. 29,078 24,134 21, 609 21, 956 20,184 20, 514 25,421 28 058 27 320 22,154 19, 923 32, 645 24,416 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

58 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 18.—DISCOUNTED BILLS: HOLDINGS ON DECEMBER 3.1, 1926, BY CLASSES [In thousands of dollars) Member bank col- Rediscounted bills lateral notes Total (all |! Commer- Paper Federal reserve bank classes) | | I l i I c a p i g t a a r u l p i r c a e a u n r l , l d - a D n d e d r m a f s a t i s n g d ht T a a c r n c a c e d e p e s t- m b G s y e e o c n v U u t e r . o r e S n b d - . - m b G S y e e o c n v U u t e . r o r e S n b d - . - s O e w c th u is e r e e r- d n. e. s. ligations ligations Boston 66,103 33, 682 127 272 32,022 iNew York 184,475 7,147 354 146,539 30,435 Philadelphia.. 67,841 11,618 274 46, 556 9,393 "Cleveland 79,442 20, 537 615 49,011 8,864 ^Richmond 23, 509 13,674 310 117 6,683 2,725 Atlanta 36,676 30,254 65 348 91 1,022 4,896 Chicago. _ 97,831 30,195 672 38 58,891 8,035 St. Louis 31,129 "223 38 12,191 9,627 Minneapolis.. 4,038 2,341 1 657 1,039 Kansas City.. 6,612 4,922 i 5 1,479 206 Dallas... 4,772 2,600 ! 34 106 1,488 528 .San Francisco. 34,200 4,683 ! 2 7,630 21,827 Total... 636, 628 170,639 ! 322 2,812 I 1,111 364,169 97,575 .No. 19.—DISCOUNTED BILLS: HOLDINGS ON THE LAST DAY OF EACH MONTH BY CLASSES [In thousands of dollars! Member bank col- Rediscounted bills lateral notes Total (all Commer- Secured Secured Date c a p i g t a a u r l p i r c a e a u n l r, l d - D d e s a r i m a g n f d h a t t n s d B a a a c n n c k c e e p e s r t- s' a T a c n r c a c e d e p s e t- b G o y m o b v U l e i e g n . r a t S n - - . b G o y m o b v U l e i e g n . r a t S n - - . s O e w c th u is e r e e r- d n. e. s. tions tions 1926 Jan. 31. 484, 865 158, 797 600 2,420 1,400 277,162 44,486 Feb. 28.. 576, 643 168, 808 539 2,000 1,775 339,395 64,126 Mar. 31. 632, 391 212, 818 225 104 2,793 2,094 309, 393 104, 964 Apr. 30.. 571, 673 171, 065 180 8 3, 015 1,839 66, 630 May 31. 548, 066 191, 566 74 2,614 1,374 278, 603 73, 834 June 30.. 515,031 196, 484 86 2,948 1, 416 251, 513 62, 556 July 31.. 566, 742 200, 318 70 2,812 1,310 284, 246 77, 961 Aug. 31.. 641, 277 209, 091 47 2, 759 1, 331 335, 271 92, 758 •Sept. 30 681,340 231, 541 240 2, 923 1,295 330, 787 114, 494 Oct, 31 690,083 199, 078 394 2,695 1, 337 358, 281 128, 288 Nov. 30 I 662,344 182, 889 590 2,475 1,195 369,154 106, 041 Dec. 31 i 636,628 170, 639 322 2,812 1,111 364,169 97, 575 Dec. 31, 1925 i 635,193 176, 490 821 3, 357 1, 872 380, 279 72, 374 Dec. 31, 1924 314,128 100, 871 1,215 3,353 1,276 185, 564 21, 849 Dec. 31, 1923- 723, 068 355, 641 175 233 7,042 3,919 349, 766 6,292 Dec. 30, 1922.. 617, 780 270, 781 330 4,844 3,618 328,172 10,035 Dec. 3lj 1921 i 1,144,346 631, 038 338 9, 985 41,511 443,722 17, 752 Dec. 30, 1920 2, 719,134 1, 521, 546 17, 218 21, 427 271, 526 869, 510 17,907 Dec. 26, 1919. 2,194, 878 627, 083 15, 479 33, 697 352, 598 1,157, 766 8,255 Dec. 27, 1918 | 1, 702, 938 264, 967 0) L5,985 363, 023 1, 037, 348 21, 615 :Dec. 28, 1917 680, 706 309, 534 0) (0 132, 774 150, 647 87, 751 -i Included with "Commercial and agricultural paper, n , e. s," Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF FEDERAL RESERVE BANKS 59 No. 20.—DISCOUNTED BILLS: HOLDINGS ON DECEMBER 29, 1926, BY MATURITIES [In thousands of dollars] Maturity Federal reserve bank Total Within 16 to 30 31 to 60 61 to 90 91 days to Over 6 15 days days days days 6 months months Boston 70, 922 67,988 ! 1,164 1,258 26 New York 173, 655 167,303 i 1,955 2,410 1,985 2 Philadelphia _ 62,226 53,645 2,595 3,623 2,359 4 Cleveland 97.147 81,141 j 5,099 6,372 4,304 198 33 Richmond- 25, 278 14,747 | 3,640 4,579 2,121 191 Atlanta 42, 759 18,601 J 7,574 9,755 6,048 760 21 Chicago 136, 631 91,843 I 11,274 15,472 14, 665 3,173 204 St. Louis... 32, 516 23,178 3,162 3,106 2,684 382 4 Minneapolis.._ 4,860 3,406 I 87 38 250 854 225 Kansas City... 11,234 6,230 i 662 1,123 1,231 1,925 63 Dallas 5,555 3,336 805 1,002 311 99 2 Sanf Francisco. 48.148 44,126 j 848 1,138 788 1,178 70 Total _.! 710,931 575,544 I 38,865 49, 876 37, 232 8,792 622 No. 21.—DISCOUNTED BILLS: HOLDINGS ON THE LAST REPORT DATE OF EACH MONTH, BY MATURITIES [In thousands of dollars] Maturity Date Within 15 16 to 30 31 to 60 61 to 90 91 days to Over 6 days days days days 6 months months 1926 Jan. 27... 448,557 332,309 31,428 48,595 26,772 8,725 728 Feb. 24... 540,083 440,813 25.324 42,022 22,463 7,461 2,000 Mar. 31.. 632,391 473,606 37,181 65.230 41,319 9,247 5,808 Apr. 28... 513,668 381,970 30,154 51,743 28,445 17, 280 4,076 May 26.. 473,943 323,614 30,644 62,144 27,698 27,912 1,931 June 30... 515,031 364,981 29,457 49,528 38,286 32,430 349 July 28._. 521,390 375,540 29, 583 52,261 43, 789 20,012 205 Aug. 25.. 570,638 410,640 34,495 71,868 42,803 10, 694 138 Sept. 29.. 716,630 559.138 44,123 63, 744 43,619 5,835 171 Oct. 27._. 631,923 487.139 43,079 61,099 33,131 7,156 319 Nov. 24_. 627,604 494,608 41,032 55.231 27,454 8,804 475 Dec. 29... 710, 931 575,544 38, 865 49, 876 37,232 8,792 622 Dec. 30, 1925 _. 749,672 616,325 35, 816 53,152 33,428 10,467 484 Dec. 31, 1924.- 314,128 241,603 18,335 26,413 17,343 9,541 893 Dec. 26, 1923 857,151 612, 660 64,310 84,069 66, 514 28,269 1,329 Dec. 27, 1922 629, 885 436,465 48,609 63,372 50,059 31,380 Dec. 28,1921 _ 1,179,833 708,361 116,690 161,202 131,936 61,644 Dec. 30, 1920 2,719,134 1,632,885 280,406 430,676 311,619 63,548 Dec.26, 1919 2,194,878 1,484, 790 244, 890 292, 715 152,125 20,358 Dec. 27, 1918 | 1,702,938 1,149,955 266,107 166, 876 93,061 26,939 Dec. 28, 1917 680,706 355,373 57,367 175,006 83,974 8,986 Dec. 29, 1916 30,196 i 9,927 2 11,794 5,006 2,423 1,046 Dec. 30, 1915 32,368 i 5,229 2 9,012 9,352 4,694 4,081 Dec. 31, 1914. 9,909 4,632 3,531 1,746 i Within 10 days. »11 to 30 days. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 22.—BILLS BOUGHT, IN OPEN MARKET AND FROM OTHER FEDERAL RESERVE BANKS: AVERAGE DAILY HOLDINGS [In thousands of dollars] Prior years Federal reserve bank January Fe a b ry ru- March April May June July August Se b pt e e r m- October No b v e e r m- De b c e e r m- Y 1 e 9 a 2 r 6 , 1925 1924 1923 1926 Boston 84,033 59,975 42, 075 36, 958 21,695 16,767 25,626 20, 887 23,662 31, 508 32,726 38,471 36,098 46,745 18,853 17,966 New York 27,305 59,078 63,368 I 40,742 65,066 57,186 42,821 38, 263 40, 216 48,034 75, 757 112, 701 55,878 47,749 48,084 47, 970 Philadelphia 15, 613 18, 379 16,074 I 11,677 11,702 13,985 16,188 18, 267 22,012 25, 327 27,889 25, 885 18, 581 18, 508 11,404 23.067 Cleveland 8,919 16,459 20,751 | 20,698 17,826 23,702 22,546 24, 806 26, 640 27,457 31, 459 34,411 22, 997 22,496 19, 055 36,380 Richmond 4,702 8,883 10, 354 10,000 7,637 11,158 9,824 J 11,640 11, 999 13, 283 14,470 12,445 10,532 6,720 1,142 1,469 Atlanta 57, 852 32, 271 16, 924 18,198 23,304 25,065 24,533 | 27, 654 29,893 32, 755 34,087 25,118 28, 856 21,796 6.215 13,145 Chicago 28, 857 31,182 29, 898 29,486 23,357 31, 353 32.455 35, 401 38, 640 42,393 45,675 48,126 34,747 33.356 20, 291 34, 228 St. Louis__ _. 23,168 16, 893 13, 431 6,433 7,924 6,111 6,390 I 7,568 5,868 2,903 9,286 10, 431 9,672 14, 375 4,868 6,239 Minneapolis 10, 513 7,224 7,610 15, 552 14,208 11,177 8, 512 j 10, 650 11, 657 13,313 13,132 13,373 11,428 13,585 2,259 762 Kansas City 14, 734 14, 908 13,397 12,616 10,087 12, 250 11,376 13, 927 14, 606 16, 886 18,358 18,616 14, 307 16,820 5,184 689 Dallas 23,097 16,361 12,594 10,399 8,567 10, 403 8,966 10, 799 11,808 13, 995 14,737 14,724 13, 023 16,450 17, 217 19, 995 San Francisco 28,386 24,018 23,158 23,197 19,182 24,881 21,895 I 25, 232 26, 991 26, 442 29, 283 30, 525 25, 267 28, 729 17,856 24,638 Total: 1926. 327,179 305, 631 269,634 235,956 230, 555 244,038 231.132 245,094 263, 992 294, 296 346,859 384,826 281,386 1925. 328, 644 313,847 298,113 277, 523 264, 589 232, 734 205, 605 224,135 295,549 352,229 367,864 287,329 1924. 302, 509 271, 408 229, 650 173,666 80, 814 51,125 44,132 28,371 89,777 177, 949 265, 926 356, 613 172,428 1923. 220,733 186, 648 232, 486 274, 533 271, 263 225,396 185,807 176. 950 173, 619 183, 671 262,304 322,431 226, 548 1922. 98,742 87, 398 92, 965 93,086 103,072 135,181 154, 010 159, 020 209, 793 251, 618 259, 980 261,077 159, 207 1921. 200,913 173,082 138,397 110,372 84,395 54,716 26,395 38,124 40, 020 56,196 78,867 105,499 91, 817 1920. 575,667 546,458 481, 238 419. 746 416, 520 401,184 363, 621 325,461 313, 864 303, 981 278, 521 244, 001 388, 746 1919. 280,732 276,087 262, 787 208, 905 189,768 246,158 362, 298 371, 091 353, 936 340,189 455, 057 549, 959 325, 232 1918. 265, 590 289,072 318,778 311, 984 278,464 238, 507 209,174 217,109 249, 751 360,451 378,036 344, 329 288,422 1917. 111,575 117,865 99,026 78, 812 99, 517 164, 355 198, 703 162, 252 167,403 178,680 195,635 250,438 152,046 1916. 26,155 28,251 35,292 44,150 51,155 63,403 80, 264 82,391 82,807 82, 601 96,493 122,315 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF FEDERAL RESERVE BANKS 61 No. 23.—BILLS BOUGHT IN OPEN MARKET AND FROM OTHER FEDERAL RESERVE BANKS: HOLDINGS ON DECEMBER 31, 1926, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances Bills Based payable Feder b a a l n r k eserve Total Total Impo • rt Export m D e o st - ic b s s h e g i t t i n o o o w p o r n o p e e d r e d e s d n c D h o e a x l n - l g ar e o A th l e l r a i T a m c n r c p c a e e o d p s r e t , t - c fo u c r r i i e r n e i e g s n n foreign countries Boston 47,200 47,200 17, 752 13,694 9,103 5,890 672 89 New York 101,443 99,916 33,364 31,420 17, 701 13,303 3,378 750 1,258 269 Philadelphia _ 26,839 26,839 7,191 10,789 4,492 3,759 504 104 Cleveland 33,217 31,297 13,334 8,724 5,149 3,205 885 1,920 Richmond 12,796 12, 796 4,721 3,788 3,311 899 77 Atlanta 23,172 23,172 7,518 8,829 5,564 1,205 56 Chicago 50,116 50,116 17, 618 18,397 12,052 1,110 824 115 St. Louis. 7,992 7,992 2,42-1 2,016 1,986 961 418 190 Minneapolis 12, 615 12, 615 4,785 3,819 2,516 1,113 307 75 Kansas City 18,295 18,295 7,822 5,661 2,583 1,716 513 Dallas 15, 927 15,927 4,726 6,103 3,326 1,637 135 San Francisco 31,374 31,374 10, 655 7,095 9,915 2,916 665 128 Total 380,986 377, 539 131,907 120,335 77,698 37, 714 8,434 1,451 1,258 2,189 No. 24.—BILLS BOUGHT IN OPEN MARKET: HOLDINGS AT THE END OF EACH MONTH, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances Bills Based payon able Month Total s g t o o o re d d s a T c r c a e d p e t- for i e n ign Total Import Export m D es o t - ic sh i i n b p e o p - r ed c D h o e a x l n - l g ar e o A th l e l r i a m nc p e o s r , t re c n u c r i - es tween foreign countries 1926 January 301, 633 299,462 130, 667 101, 717 47,813 13, 835 5,430 0) 1,156 1,015 February ._ 300,947 299,173 126, 837 92, 348 47,670 25, 257 4,806 2,255 979 795 March ___ 249, 633 247, 693 110, 354 73, 352 34,329 23, 387 3,750 2,521 803 1,137 April.... 209, 676 207, 894 94,995 51, 623 31,811 25, 251 3,009 1,205 1,213 May 237,818 236,007 101,413 63, 379 34,437 32, 513 2,815 1,450 708 ,203 June 249,394 247, 345 104,952 59, 534 34,417 44,060 3,026 1,356 2 406 ,643 July 215, 752 213, 881 92, 721 46, 384 27,369 43, 560 2,489 1,358 835 ,036 August 257, 625 256, 053 110,905 56, 655 38,240 43, 686 4,543 2,024 529 ,043 September 280, 350 277, 619 116, 517 67, 323 45,343 41, 255 6,174 1,007 1,225 ,506 October 322, 782 320,391 132, 880 88, 492 57,432 33,194 6,585 1,808 768 ,623 November 364,085 361, 585 138, 819 105, 325 65,641 44, 428- 6,158 1,214 780 ,720 December 377, 539 131,907 120, 335 77,698 37,714 8,434 1,451 1,258 2,189 1 Included in colum 6. 2 Includes $9,661 based on shipments between foreign countrie: Digitized for FRASE3R84 94—27 6 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

62 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 25.—BILLS BOUGHT IN THE OPEN MARKET AND FROM OTHER FEDERAL RESERVE BANKS: HOLDINGS ON DECEMBER 29, 1926, BY MATURITIES [In thousands of dollars] Maturity Federal reserve bank Total Over 90 Within 16 to 30 31 to 60 61 to 90 days but 15 days days days days within 6 months Boston 46, Oil 16,915 5,423 7,136 15,583 954 New York 100,045 65,813 14, 750 16,029 2,963 490 Philadelphia 26,040 6,131 4,972 9,945 4,992 Cleveland _ 34,488 11, 825 7,451 10,156 4,524 532 Richmond __ 13,147 3,347 4,399 4,251 1,081 69 Atlanta 23, 205 8,536 6,950 5,332 1,992 395 Chicago 50, 111 17,060 10,345 15,209 6,663 834 St. Louis 7,730 882 3,026 3,005 817 Minneapolis _. _ 13,061 2,141 3,776 3,480 3,189 475 Kansas City 18,283 4,696 5,601 5,609 1,987 390 Dallas,. 15,669 3 947 3,276 4,487 3,154 805 San Francisco _ 31,0b8 14,451 6,849 6,324 2,437 947 Total 378,798 155,744 76,818 90,963 49,382 5,891 No. 26.—BILLS BOUGHT IN THE OPEN MARKET: HOLDINGS ON THE LAST REPORT DATE IN EACH MONTH, BY MATURITIES [In thousands of dollars] Maturity Date Total Over 90 Within 16 to 80 31 to 60 61 to 90 days but 15 days days days days within 6 months 1926 Jan. 27 295,417 86,940 55, 640 90, 439 52,939 9,459 Feb. 24 _ 304,128 122, 574 59, 878 87,880 29,952 3,844 Mar. 31 249,633 117, 659 52, 635 52,287 23, 327 3,725 Apr. 28 199,017 86,409 56,093 38, 275 14,192 4,048 May 26 238, 828 108,875 49,157 60,064 19, 490 1,242 June 30 249, 394 113,053 45,322 51,826 36,326 2,867 July 28 211,173 66, 796 41, 517 57, 216 40, 799 4,845 Aug. 25 254, 616 72,070 52,228 74,669 47,931 7,718 Sept. 29 275,623 88,824 55,497 73,136 50,171 7,995 Oct. 27 307, 541 80,100 62,260 84,092 67,887 13, 202 Nov. 24 340,629 114,422 59,899 101, 734 54, 270 10,304 Dec. 29_ 378,798 155, 744 76,818 90,963 49,382 5,891 Dec. 30, 1925 362, 818 123, 664 77,801 85,094 64, 571 11, 688 Dec. 31, 1924 387,100 117, 576 75,192 111,099 71,576 11,657 Dec. 26, 1923 336,415 117, 289 65,124 94,220 55,119 4,663 Dec. 27, 1922 _.. 246,293 83,210 50,737 69,056 38,083 5,207 Dec. 28, 1921 114, 240 58, 306 24,743 26,062 5,114 15 Dec. 30, 1920 _.. 255, 702 87,030 64,745 76,805 27,122 Dec. 26, 1919 585, 212 123,723 100,061 209,280 152,148 Dec. 27, 1918 303,673 104,435 73,914 104,880 20,444 Dec. 28, 1917 275,366 40,321 61,177 105,132 68,736 Dec. 29, 1916 _ 127,497 i 20,329 2 29,720 42,766 34,682 Dec. 30, 1915 23,013 U,236 2 5,266 7,508 9,003 i Within 10 days. 2 From 11 to 30 days. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 27.—UNITED STATES SECURITIES: AVERAGE DAILY HOLDINGS [In thousands of dollars] Prior years Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July August Sep b t e e r m- O b c e t r o- No b v e e r m- De b c e e r m- Y 1 e 92 a 6 r, 1925 1924 1923 O 1926 O 2 Boston 12, 233 7,494 13,198 17,453 16, 250 12,948 I 12,131 10, 679 9,631 9,579 9,829 11, 707 13, 730 28, 261 10, 668 New York 53, 517 56,176 68, 501 68, 606 79,448 91, 208 80,211 I 69, 458 63,463 55,041 56,832 71,349 67,889 85, 792 119,175 27, 560 Philadelphia 23,815 20, 040 19, 366 22, 272 23,723 23, 336 21,706 I 21, 246 20,193 19,922 19, 864 20,432 21, 336 21, 383 27,811 21,430 Cleveland 36,173 32,103 30, 363 35,137 37,157 39, 071 37,470 | 37, 243 34,414 34, 254 35, 279 35, 666 35, 381 35,387 43,494 18, 668 Richmond 8,811 6,199 5, 299 8,194 9,343 9,414 9,323 , 8, 828 7,260 7,049 7,001 7,146 7,834 4, 848 4,737 1,677 Atlanta 17, 511 15, 618 15, 280 9,509 3,804 3, OU 2,044 1,911 1,894 1,928 1,881 1,852 6,300 10,684 2,315 2,150 Chicago 52, 844 45, 228 44, 828 52, 435 58, 884 59, 634 58.179 54,559 49,414 48, 287 47, 811 48, 351 51, 751 49, 550 57, 077 28,492 o St. Louis 24, 784 24,140 23, 758 25, 702 27, 558 27, 490 26,145 23, 233 19, 853 19, 543 19, 564 20,480 23,520 20, 527 9,960 12,375 Minneapolis 18, 954 17,060 16, 508 18, 958 19, 828 20, 072 19,800 18, 965 19,124 22, 798 16, 565 16,641 18, 787 17, 617 21, 692 12,254 14 Kansas City 37, 437 34, 323 32,405 35, 314 37, 718 37,477 35, 001 33, 478 28, 671 28,015 28,172 28,457 33, 035 30, 781 24, 512 23, 347 Dallas 32, 363 30, 497 29, 626 32,188 33, 510 31, 428 27.180 25,800 21, 060 21, 063 21,141 21,851 27, 292 26,229 21,320 7,230 San Francisco 49, 657 45,112 42, 770 48, 266 49, 823 50, 385 49, 738 47, 051 39, 722 38, 882 38, 620 39, 392 44, 958 42, 434 41, 011 19,972 All banks: 1926. 368, 099 335, 367 369, 779 398, 249 408, 776 379, 745 353, 903 315, 747 306, 413 302, 309 321,446 349, 790 1925. 465, 246 384, 510 375, 995 354, 897 360,922 345, 707 337, 653 329,151 335,359 327, 556 331, 943 358,412 358,962 1924. 117, 761 133, 990 242, 682 272, 238 322, 986 415,970 462, 365 536, 958 575, 470 584, 953 587, 075 554, 587 401,365 1923. 421, 469 355, 459 317, 897 230,102 193, 488 155,133 96, 922 101, 830 91,447 83, 818 103, 099 185, 823 1922. 236,148 355, 210 457, 643 520,197 604,151 592, 647 545, 546 497, 827 486, 920 448, 617 326, 294 379, 763 454,750 1921. 297, 638 287, 359 295, 758 276, 899 302, 753 302, 710 261,141 248, 770 254, 764 207, 625 208, 579 226, 005 264, 014 1920. 325, 497 308, 619 344,161 331,824 301, 789 347, 445 318, 309 338, 565 304, 053 320, 417 •339,140 323, 554 1919. 198,123 186, 372 194,103 213, 358 228, 080 235, 722 248, 645 340, 246 295, 725 307,115 327, 244 254, 053 1918 148, 256 180, 516 235, 961 155, 588 84, 646 97, 696 64, 402 52,165 67, 085 124, 443 126, 789 204, 807 128, 232 1917. 55, 093 48, 273 49, 247 111, 029 118, 387 112,036 73, 529 73, 866 88, 697 110,808 117, 941 100, 683 83,353 1916. 18, 504 26, 576 36, 756 47,497 54, 959 56, 759 57, 377 55, 297 55, 410 53, 270 50,504 53, 649 47, 072 3 w GO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

fto. 28.—UNITED STATES SECURITIES: HOLDINGS (PAR VALUE) AT END OF YEAR, BY CLASSES All classes of securities Bonds Fede b ra a l n r k eserve Total U r a c m e g h n p r e a d e u n s e e r e t - - r i c P n o t v u m h m e r o r c a s p o m h r t e u m k a i n g e t s e t h e t e n d e t All other Total c o 2 o c f n e p s 1 n e 9 o t r 3 ls 0 P 2 1 c m 1 a 9 e 9 p 3 n a 3 n 6 e s a 8 t - r - 3 b 1 c 9 o p o s 4 n e n i 6 r o d v - n s 4 c e 7 e r o - n f i t L 3l c l i A o b e a e n p n r t e ty r L V lo A c ib e a e P n n r e t 2 t r y 1 b 4 9 T o 4 c ^ u r n 7 e e r p - d y n 1 a e s - 9 s t r 5 - o 2 f T 4 1 b - 9 r o p 4 e n e 4 a r d - s 1 s c u 9 e o r 5 n y f 4 t 1 b 3 9 T o ^ 4 c u r n 6 e e r d - p n y a 1 s e t 9 s r - o 5 f 6 Tr n e o a t s e u s ry C o e f e r d i t n i n f d e ic e s a s b t t e - s 1926 1 Boston $10,164,000 $29, 500 $9,305,500 $829,000 $530.500 $529,000 $1,500 $2,140,500 $7,493,000 New York _. 58, 863,750 1,500.000 56,007,500 1,356,250 1,364,250 1,275,150 $89,166 11,645, 500 45,854,000 Philadelphia 20,230,100 5, 222,000 15, 008,1001 585,100 $100 549,200 500 35,300 15, 388,000 4, 257,000 Cleveland 36,154,650 14,015,000 22.139,650 1.169.450 414,800 549,350 $45.200 149,800 $10,300 18,266,200 16, 719,000 Richmond 7,416, 900 6,176,000 1,240, 900 1,191,900 $915,100 237,000 39,800 1,252, 500 4, 972,500 Atlanta 1 889 850 1, 889, 850 351,550 10,300 $50 341,200 1, 538,300 Chicago -. 48, 757, 900 983,000 27.847.500 19,927,40020, 516,400 427,400 20,089,000 5, 490,500 22 751,000 M St Louis 21,072,350 14,569, 500 6,502,850 2,011, 850 2,011,850 6,972, 500 12,088,000 ft Minneapolis 17,039,210 9,471, 500 7,567,710 7, 569,210 260 115,300 7,287, 7oO 165,900 1. 841,000 7,629,000 Kansas City 29, 224, 900 650,000 19,102, 000 9,472,900 8,841,800 46.200 3,186,400 100,800 5,508,400 4,139,600 16, 243, 500 u Dallas 23, 339, 350 19, 603.000 3, 736,350 3, 738,850 3,124,550 329,000 285,300 3.813,000 15,787, 500 San Francisco.. . 40, 667, 200 30,983, 500 9,683, 700 91, 700 3,000 86, 700 2,666 14,872,000 25, 703, 500 ft Total: 1926.- 314, 820,160 3,162, 500 212,303,000 99,354,66047,962. 560 915,100 237,360 2,046,000 49, 250 37. 993, 750 148,000 6,277,500 295, 600 87,359, 600 179, 498,000 1925 . 374, 572, 960 8,492,000 260,000,000 106,080, 96060.826,460 915,100 237,360 2,046,400 96, 200 51, 277,400 171,700 6,082,300 187,062,100 126,684.000 1924_. 540,159,560 4,034,600 449,035,000 87,089,96075,265,960 915,100 237,360 2,046,400 68, 600 66,099,100 152,500 5,746,900 349,354, 600 115, 539,000 W ft ui »Includes 3 per cent Panama bonds of 1961 as follows: 1926—Minneapolis, $500; 1925 and 1924, Minneapolis, $500, and Chicago, $400. ft *Includes 4 per cent Liberty bonds, as follows: 1926—Atlanta, $2,850; San Francisco, $850; 1925, San Francisco, $50. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK CHARTS ALL FEDERAL RESERVE BANKS MILLIONS OF DOLLARS MILLIONS OF DOLLARS 3500 r—— 3500 3000 500 1917 1918 1919 1920 1921 1922 1923 * 1924 1925 1926 Figures for 1917-1918 are for last report date of each month, beginning with 1919 they are daily averages. Peposits ore net through February, 1921, tota/ after that month Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF BOSTON MILLIONS OF DOLLARS MILLIONS OF DOLLARS 350 350 300 300 250 150 100 1317 1918 1919 1920 1921 1922 1923 1924- 1925 1926 Figures for 1917-1321 are for last report date of each month, begmnrng with 1922 they are daily averages, deposits are net through February 192K total after that month Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF NEW YORK MILLIONS OF DOLLARS MILLIONS OF DOLLARS 12001 200 1000 900 800 700 1917 1918 1919 1920 1921 1922 1923 1924- 1925 1926 Figures for 1317-1921 are for last report date of each month, beginning with 1922 they ore daily averages. Deposits are net through February, 1321, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

00 FEDERAL RESERVE BANK OF PHILADELPHIA MILLIONS OF DOLLARS MILLIONS OF DOLLARS 350 350 300 300 250 200 100 1917 1918 1919 1920 1921 1922 1923 1924- 1925 1926 Figures for 1917-1921 are for last report date of each month, beginning with 1922 they ore daily averages. Deposits are net through February, 1921, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF CLEVELAND MILLIONS OF DOLLARS 1917 1918 1919 1920 1921 1922 1923 1924- 1925 192S Figures for /S/7-/92/ are for last report date of each month, beginning with 1922 they are doi/y averages. Deposits are net through February, 792/, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF RICHMOND MILLIONS OF DOLLARS MILL10N5 Or DOLLARS 180 ! 1 180 160 140 120 100 1917 1918 1919 1920 1921 1922 1923 1924- 1925 1926 Figures for 19171921 are.for lost report date of each month, beginning with 1322 they are daily averages. Deposits are net through February, 1921, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF ATLANTA MILLIONS OF DOLLARS 1801 160 120 60 1917 1918 1919 1920 1921 1922 1923 192^ 1925 1926 Figures for 1917-1921 are for lost report date of each month, beginning with 1922 they are daHy averages. Deposits are net through February, 1921, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

to FEDERAL RESERVE BANK OF CHICAGO MILLIONS OF DOLLARS MILLIONS OF DOLLARS 600 I 600 1917 1918 1919 1920 1921 1922 1923 1925 1926 Figures for 1917-1921 are for last report date of each month, beginning with 1922 they are daily averages. DeDosiis are net throuoh February. 1921. total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF ST. LOUIS MILLIONS OF DOLLARS MILLIONS OP DOLLARS 180 1180 160 160 120 80 20 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 Figures for 1917-1921 ore for last report date of each month, beginning with 1922 they are daily averages. Deposits are net through February, 1921, total after that month. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF MINNEAPOLIS MILLIONS Or DOLLARS MILLIONS OF DOLLARS 120 I 1120 100 . F. R. Notes/-f J -S J .. .. —A Deposits Bills Discounted Bills Bought Z2L 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 Figures for 1317~1921 are for last report date of each month, beginning with 1922 they are daily averages. Deposits are net through February, 1321, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF KANSAS CITY MILLIONS OF DOLLARS MILLIONS OF DOLLARS 180 1180 140 80 60 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 Figures far 1917-1321 are for last report date of each month, beginning with 1322 they are daily averages. Deposits are net through February, 1921. total after that month,* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF DALLAS MILLIONS OF DOLLARS MILLIONS OF DOLLARS 120 120 1917 1918 1919 1920 1921 1922 1923 1925 1926 Figures for 1917-1921 are for last report date of each month, beginning with 1922 they are daily averages. Deposits are net through February, 1921, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OP SAN FRANCISCO MILLIONS OF DOLLARS MILLIONS OF DOLLARS 3501 1350 300 250 250 200 1917 1918 1920 1921 1922 1923 1924 1925 1926 Figures for 1317-1921 are for last report date of each month, beginning vith 1922 they are daily averages. Deposits are net through February, 1921, total after that month. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTES oo No. 29.—FEDERAL RESERVE NOTES: FEDERAL RESERVE AGENTS' ACCOUNTS ON DECEMBER 31, 1926 AND 1925 [In thousands of dollars] Total Boston New York Philadelphia Cleveland Richmond Atlanta 1926 1925 1926 1925 1926 1925 1926 1925 1926 1925 1926 1925 1926 1925 Federal reserve notes received from comp- Fe t d ro e l r l a e l r - reserve n _ o tes he . ld > by Federal 3,030, 671 2, 977, 588 263, 625 256,192 804,298 746,955 203,542 223, 801 289,364 301, 857 126,017 132,922 256,782 233, 433 s reserve agent _ 769, 848 772, 028 66, 200 44,350 282,080 226, 360 27,700 28,000 33,240 39,020 23,579 23, 289 57,730 42,135 Federal reserve notes issued to Federal H reserve bank 2, 260,823 2, 205, 560 197, 425 211,842 522, 218 520, 595 175, 842 195, 801 256,124 262, 837 102,438 109, 633 199,052 191,298 O Collateral held as security for Federal reserve notes issued to Federal reserve bank: Gold and gold certificates 306, 095 302, 231 35,300 35,300 168, 697 186, 698 2,000 8,780 8,780 28,805 21,160 15,213 10,370 Gold redemption fund 112, 344 109, 817 17,438 18, 205 23, 290 27,298 8,965 11, 784 14, 591 13,824 6,589 2,524 8,922 6,094 Gold fund, Federal Reserve Board 963,435 960, 233 44,000 25, 000 91,000 116, 000 96, 877 127,389 130,000 170,000 35,000 44,500 116,000 70,900 Eligible paper 968,904 948,803 113, 303 137, 828 263,434 231, 454 70, 763 56, 640 112,059 71,102 35,642 43,924 59,751 104,088 Total collateral 2, 350,778 2, 321, 084 210, 041 216, 333 546,421 561,450 176,605 197, 813 265,430 263, 706 106,036 112,108 199,886 191,452 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco fcr1 1926 1925 1926 1925 1926 1925 1926 1925 1926 1925 1926 1925 Federal reserve notes received from comptroller 451,996 132, 676 72, 764 69,160 89,325 88,941 115,697 121,087 72,370 66, 268 284,891 304,296 Federal reserve notes held by Federal reserve agent 149,640 232, 457 19, 260 22, 580 14,262 15,695 26,610 36,530 16,247 11, 512 53,300 50,100 Federal reserve notes issued to Federal reservs bank... 302,356 S200, 219 53, 504 46, 580 75,063 73, 246 89,087 84,557 56,123 54, 756 231, 591 254,196 o w Collateral held as security for Federal reserve notes > issued to Federal reserve bank: Gold and gold certificates 7,450 9,945 13, 507 13,052 18,343 14,926 10,000 Gold redemption fund _ 2,779 4,038 1,759 1,675 1,032 2,368 4,500 4,211 4,145 3,343 18,334 14,453 Gold fund, Federal Reserve Board 160, 645 L10,645 10,300 4,200 46,000 42,000 60,360 50,360 16,000 6,000 157,253 193,239 Eligible paper _ 147, 725 ]115,484 39,072 45, 025 16,341 21, 719 24,754 32, 526 20, 615 32,863 65,445 56,150 Total collaterals 311,149 230,167 58, 581 60,845 76,880 79,139 89, 614 87,097 59,103 57,132 251,032 263,842 : Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTES 79 No. 30.—FEDEBAL RESERVE NOTES: NOTES ISSUED TO FEDERAL RESERVE BANKS BY FEDERAL RESERVE AGENTS, AND COLLATERAL PLEDGED WITH AGENTS AS SECURITY FOR NOTES ISSUED, BY WEEKS [In thousands of dollars] Collateral security pledged with agents Federal reserve Gold and gold certificates Collateral notes pledged Date i F s r s e e u s d e e e d r r v a e t l o Total El p i a g p i e b r le Total In vault de I f m n u n p r d e t , i - on F In f e u d g n e o d r l , a d l i o n i f s e s n x u o c e t e d e s s s banks U. S. Reserve Treasury Board 1926 Jan. 2,171,718 2,316,863 892,390 1,424,473 302,431 104,883 1,017,159 145,145 13. 2,123,475 2, 261,402 789,051 1,472,351 302, 636 98,181 1,071, 534 137,927 20. 2,076,410 2, 228,411 711,401 1, 517,010 308,260 102, 619 1,106,131 152,001 27. 2,048, 723 2,203,901 692,387 1, 511, 514 309,121 1,106,404 155,178 Feb. 3_ 2,021,402 2,190, 587 740,300 1,450, 287 309,961 106, 916 1,033, 410 169,185 10. 2,008,387 2, 224,174 791.025 1,433,149 310,000 114,853 1,008,296 215,787 2,003, 800 2,195,384 797,417 1,397,967 311.245 102,647 984,075 191, 584 2,011,369 2, 208, 513 802, 364 1.406,149 311.246 100,489 994,414 197,144 Mar. 3__ 2,006,093 2,218, 762 835, 592 1, 383,170 310,846 104,140 968,184 212,669 10- 2,000,965 2,162,926 754, 218 1,408, 708 310,846 107,962 989,900 161,961 17_. 1,989, 508 2,137, 069 704, 667 1,432, 402 310, 748 102,162 1, 019,492 147,561 24.. 1,980,064 2, 232,118 827,811 1,404,307 310,498 105,606 252,054 31- 1,966, 703 2, 200,492 838, 769 1, 361, 723 311, 743 104,805 945,175 233,789 Apr. 7.. 1,959, 213 2,161, 557 777.026 1, 384, 531 309,393 99,051 976, 087 202,344 14.. 2, 002,154 2, 208,236 822,806 1,385,430 309, 653 110,457 965, 320 206,082 21.. 2,005,839 2,146, 960 648, 512 1,498,448 309, 253 100,600 1,088, 595 141,121 28.. 2, 001,007 2,126, 515 688, 773 1,437, 742 318,953 99,441 1,019, 348 125, 508 May 5.. 2,000,978 2,151,003 736,862 1,414,141 303, 554 104, 790 1,005, 797 150,025 12.. 1,998,307 2,154,442 682, 765 1,471,677 305,054 106,175 1,060,448 156,135 19.. 1,985, 321 2,170,330 694,851 1,475,479 304,653 96, 442 1, 074, 384 185,009 26.. 1,987,185 2,132,967 677,848 1,455,119 304.152 105,823 1,045,144 145.782 June 2.. 1,990,095 2,190,426 740, 276 1.450,150 304.153 104,847 1,041,150 200,331 9__ 2, 012,406 2,145,657 672,959 1,472, 698 304,240 104,928 1, 063, 530 133, 251 16.. 2,005,937 2,138,720 608,169 1, 530, 551 303,153 91,601 1,135, 797 132.783 23- 1,991,009 2,166,915 699, 216 1,467,699 303,153 98,971 1,065, 575 175,906 30.. 1, 995, 204 2,196,406 734, 247 1,462,159 304, 584 96, 302 1,061, 273 201, 202 July 7_. 2, 022, 870 2,152, 379 830,213 1, 322,166 304, 483 93,001 924, 682 129, 509 14.. 2,024,120 2,170, 793 728, 899 1, 441, 894 304,484 98, 714 1, 038, 696 146, 673 21.. 2, 018, 037 2,150, 413 693, 412 1, 457, 001 304, 483 101,363 1, 051,155 132, 376 28.. 2,012, 492 2,145, 375 708, 991 1, 436, 384 301, 984 97, 407 1, 036, 993 132, 883 Aug. 4__ 2,022, 417 2,187, 390 755, 993 1, 431, 397 301, 984 106, 631 1,022, 782 164, 973 11- 2, 009, 794 2, 205, 204 751,848 1, 453, 356 300, 982 96, 509 1, 055, 865 195, 410 18.. 2, 012, 479 2,213, 475 760,119 1, 453, 356 300, 984 103, 221 1, 049, 151 200, 996 25.. 2,027, 902 2, 241, 248 1, 442, 912 300, 983 102, 911 1, 039, 018 213, 346 Sept. 1- 2,036, 046 2, 250, 320 855,009 1, 395, 311 300, 983 105, 023 989, 305 214, 274 8- t 056,107 2, 264, 384 855, 953 1, 408, 431 304,134 102, 055 1, 002, 242 208, 277 15- 2, 071, 363 2, 230, 099 800, 852 1, 429, 247 304, 134 92,072 1, 033,041 158, 736 22.. 2, 066, 907 2, 280, 673 895, 994 1, 384, 679 306, 634 107, 211 970, 834 213, 766 2, 065, 401 2, 312, 483 953, 368 1, 359,115 306, 633 95, 579 956, 903 247, 082 Oct. 6.. 2, 060, 528 2, 242, 619 859, 423 1, 383,196 306,433 92, 258 984, 505 182, 091 13-. 2, 063, 142 2, 276, 429 947, 286 1, 329,143 306, 428 105, 902 916, 813 213,287 20.. 2, 074, 099 2, 247,190 837, 649 1, 409, 541 306, 428 96, 715 1, 006, 398 173, 091 27.. 2, 068, 178 2, 311, 680 900, 057 1, 411, 623 306, 429 96,106 1, 009, 088 243, 502 Nov. 3.. 2, 060, 346 2, 296, 378 958, 606 1, 337, 772 307, 213 93,190 937, 369 236,032 10- 2, 083, 912 2, 272, 502 884, 836 1, 387, 666 307,214 101, 017 979, 435 188, 590 17.. 2, 087, 229 2, 289, 276 891, 338 1, 397, 938 307, 554 100,101 990, 283 202, 047 24.. 2, 090, 773 2, 334, 682 939, 544 1, 395,138 306,452 101, 684 987,002 243, 909 Dec. 1-. 2,115, 402 2, 330, 750 988,404 1, 342, 346 306, 453 101, 627 934, 266 215, 348 2, 157, 542 2, 324, 080 975, 741 1, 348, 339 306, 453 109, 610 932,276 166, 538 15- 2, 188, 375 2, 354, 545 919,193 1, 435, 352 306, 274 104, 828 1, 024, 250 166,170 22- 2, 267,160 2, 443, 634 1, 066, 858 1, 376, 776 306,151 111, 978 958, 647 176, 474 29- 2, 264, 775 2, 427,488 1,058, 364 1, 369,124 306,095 109, 052 953, 977 162, 713 Dec. 30, 1925. 2, 203, 380 2, 417, 315 1,060, 708 1, 356, 607 302,231 112, 443 941,933 213, 935 Dec. 31, 1924. 2, 244, 961 2, 371,099 668, 793 1, 702, 306 279, 494 114, 918 1, 307, 894 |126,138 Dec. 26, 1923. 2, 838, 398 3, 246, 522 1,136, 708 2,109,814 326, 584 114, 480 1, 668, 750 I408,124 Dec. 27, 1922. 2, 835,092 3, 035, 779 836, 933 2, 198,846 353, 657 133, 090 1, 712, 099 200, 687 Dec. 28, 1921. 2, 796, 540 3, 092, 876 1, 246, 5071, 846, 369 349, 013 115, 832 1, 381, 524 296, 336 Dec. 30, 1920. 3, 738, 880 4,169, 219 2, 893, 005 1, 276, 214 264,926 118, 596 892, 692 430, 339 Dec. 26, 1919. 3, 292, 098 3, 951, 9302, 711, 898 1, 240, 032 244,148 103, 575 892, 309 659, §32 Dec. 27, 1918. 2, 855, 604 3,244, 666 1,956,357 1,288, 309 246, 327 81, 951 960,031 389,062 Dec. 28, 1917. 1, 341, 752 1, 388, 556 606, 705 781, 851 250,423 41, 479 489, 949 46,804 Dec. 29, 1916. 300, 511 300, 925 18, 402 282, 523 164, 567 15, 376 102, 580 414 Dec. 30, 1915. 214,125 214,190 16, 740 197,450 139, 940 650 56, 860 65 Dec. 31,1914. 17,199 17,205 4,953 12, 252 12,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 31.—FEDERAL RESERVE NOTES: ISSUED TO BANKS BY AGENTS, HELD BY BANKS, AND IN ACTUAL CIRCULATION; ALSO GOLD AND 00 ELIGIBLE PAPER HELD BY AGENTS AS SECURITY FOR NOTES ISSUED TO BANKS Lin thousands of dollars] Boston Y N o e r w k d P e h lp il h a i - a C l l a e n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas F c S r is a a c n n o - 1926 Federal reserve notes: Issued to Federal reserve banks, net- Jan. 31 - 2,035,126 169,047 516,823 184,575 220,411 98,603 178,360 187,677 44,120 67,826 72,901 47,044 247,739 Feb. 28 ... 2,013,163 176, 650 515, 650 179,135 221, 776 94, 239 181, 878 181,123 42,337 67,729 71,491 43,684 237,471 Mar. 31. 1, 966, 703 167, 515 513, 817 174, 771 218, 289 91, 914 179,733 180,139 41, 202 66, 850 70,050 41,843 220,580 Apr. 30 - 2,003,245 158, 654 515,186 172,140 216, 641 90,085 217,950 194,182 42,144 67,214 68,305 40,475 220,269 May 31 1, 989,063 157,676 511,527 164,437 211,176 87, 633 212,031 202, 578 45,457 65, 625 67, 586 40,464 222,873 June 30 - 1,995, 204 163,843 504, 929 154, 866 210, 666 86,902 211,946 214, 570 47,136 67, 344 67, 502 40,845 224,655 July 31- — 2,003, 227 159,921 494,374 152,039 213, 274 84,154 213,862 221, 675 49,514 70,318 70,306 42, 615 231,175 Aug. 31 —- 2,030,636 164,500 493,208 151, 681 222, 259 86, 924 206,042 237,082 52, 391 67, 710 72, 771 47,537 228,531 Sept. 30- _-. 2,065,204 183,386 477,539 153, 668 227, 624 90,316 205, 572 249, 247 50, 648 67, 827 74,568 54,506 230,303 Oct. 31 - - 2,066, 795 189,029 478. 976 147, 774 227, 434 92, 758 201, 870 248,437 50, 893 69, 745 74,175 54, 575 231,129 Nov. 30 2,109,352 190,791 487, 729 154, 884 232, 475 98, 049 195, 805 259, 411 50, 792 72, 922 84,624 54, 500 227,370 Dec. 31— 2, 260, 823 197,425 522, 218 175, 842 256,124 102, 438 199, 052 302, 356 53, 504 75, 063 89,087 56,123 231,591 Held by issuing Federal reserve banks- Jan. 31 — 346,804 15, 459 147,135 35, 272 16, 376 16, 663 17,749 21,369 6,414 2,563 6,025 6,068 55,711 Feb. 28 — 324,065 18, 816 143.331 30, 338 11,866 14, 866 19,816 18, 744 5,044 3,179 5,814 4,517 47,734 Mar. 31 310.221 14, 775 141,834 25,112 16, 831 15, 929 19, 586 18,111 4,479 3,025 6,950 5,251 38,338 Apr. 30 323,529 13,131 145, 777 27, 208 15, 616 16, 025 29, 510 19,309 4,931 4,765 6,512 4,540 36,205 May 31 279,515 18, 067 102,385 23,019 14,342 14, 739 29,402 23,739 5,314 4,782 5,459 4,926 33,341 June 30 - 297,925 21,066 96, 256 27,237 18, 954 16, 655 32,900 28,385 5,227 5,923 6,118 5,130 34,074 July 31— 303,330 18,198 94,329 29, 545 23,416 12,052 29,042 28,967 4,948 8,746 6,404 4,676 43,007 Aug. 31 - 320,765 21,337 103,637 32,882 20, 984 13,936 31,424 35,153 5,206 6,168 7,232 5,836 36, 970 Sept. 30 334,110 32,804 97, 528 37,263 21,527 13,614 29,916 38,377 3,392 4,666 7,919 5,219 41,885 Oct. 31. 310, 669 35, 883 94, 587 25,655 18,988 11,947 29,235 33,487 4,542 3,814 6,409 4,225 41,897 Nov. 30 _ 327, 729 41, 302 87,448 29,161 19,010 14, 982 30,393 34, 625 4,872 5,463 14, 915 5,190 40,368 Dec. 31— 409, 996 43,062 105,344 41,775 36,163 18,118 33,225 52, 663 5,108 6,172 16, 564 7,320 44,482 In actual circulation- Jan. 31 1, 153, 588 149,303 204,035 81,940 160, 611 166,308 37, 706 65, 263 66,876 40, 976 192,028 Feb. 28 1, 689,098 157,834 372,319 148,797 209,910 79,373 162,062 162,379 37, 293 64, 550 65, 677 39,167 189,737 Mar. 31 _ 1,656,482 152,740 371,983 149, 659 201,458 75, 985 160,147 162, 028 36, 723 63, 825 63,100 36,592 182,242 Apr. 30-,—T-,,r—,.,.™, —,—, 1,679, 716 145, 523 369,409 144, 932 201,025 74,060 188,440 174,873 37, 213 62,449 61, 793 35,935 184,064 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

May 31 ^_.^_.,._...__....,. 1,709,548 139, 609 409,142 141,418 196,834 72,894 182,629 178,839 40,143 60,843 62,127 35, 538 189,532 June 30 _ _ 1,697, 279 142, 777 408, 673 127, 629 191,712 70, 247 179,046 186,185 41,909 61,421 61,384 35,715 190,581 July 31 1, 699,897 141, 723 400,045 122, 494 189, 858 72,102 184,820 192,708 44, 566 61, 572 63 902 37,939 188,168 Aug. 31 1,709,871 143,163 389, 571 118, 799 201,275 174, 618 201,929 47,185 61, 542 65, 539 41,701 191, 561 Sept. 30 ., 1,731,094 150,582 380, Oil 116,405 206,097 76,702 175, 656 210,870 47,256 63,161 66,649 49,287 188,418 Oct. 31.. 1,756,126 153,146 384,389 122,119 208,446 80,811 172,635 214, 950 46,351 65, 931 67,766 50,350 189,232 Nov. 30__._ 1,781, 623 149,489 400,281 125,723 213,465 83,067 165,412 224, 786 45,920 67,459 69,709 49,310 187,002 Dec. 31... _ ...III.... 1,850,827 154,363 416, 874 134,067 219,961 84,320 165,827 249,693 68,891 72,523 48,803 187,109 Collateral pledged with agents as security for Federal reserve notes issued to banks: Gold and gold certificates- Jan. 31 1,497,280 78,960 439,648 134,388 189, 979 62,125 109, 025 129, 550 14,460 64,338 51,414 23,958 199,435 Feb. 28 1,396,884 102, 363 299.433 122,948 191,063 57, 680 131,956 129,509 15,778 63,071 48,204 24,672 210,207 Mar. 31 1,361, 723 98828 344,020 116,464 170,427 47,151 122.016 129,389 14,092 62, 726 49,323 28,231 179,056 Apr. 30 _ _.. 1,458,549 124,667 383,700 120,741 169,478 46,161 158,288 149,268 14,584 45,405 44,078 23,014 179,165 May 31 1,443,772 121,239 368,362 115, 637 171,163 43,490 153, 579 159,146 10,397 52,228 42,379 23,503 182,649 June 30 1,462,159 131.406 387.946 102,066 170,054 40,029 149,864 154,018 15,776 58,300 44,105 21,364 187,231 July31 1,440,150 121,734 362.658 100,039 179,552 38,471 148,305 168,898 19,154 55,594 47,990 18,484 179,271 Aug. 31 1,405,265 124,513 352,345 180,887 33,320 128,160 168, 787 18,031 45,094 52,774 18,966 184,107 Sept. 30 . 133,200 317,036 95, 668 181,771 41,127 118,849 178,694 51,258 53,891 25,625 172,279 Oct. 31__. 1,404,507 141, 642 373,623 87, 774 161,981 51,883 117,018 148,596 17,573 47,126 50,203 28,983 178,105 Nov. 30 1,410,672 137,604 343,312 96,884 151,222 65,014 118,663 148,515 17,972 57,064 55,497 28, 599 190,326 Dec. 31 1,381,874 96, 738 282.987 105, 842 153,371 70,394 140,135 163,424 19,509 60,539 64,860 38,488 185,587 Eligible paper- Jan. 31... 743,609 114,391 130,026 63,176 52,075 51, 010 72,265 101,494 37,974 10,514 27,815 24,344 58,525 Feb. 28 840,819 91,481 234,554 72,504 69, 722 47,299 56,816 106,315 38,660 14,621 35,846 21,433 51,568 Mar. 31... 838. 769 86,434 190,125 62,837 83,976 52,355 58,994 140,310 41,917 12,616 25,053 14,309 69,843 Apr. 30 -II_I""II"II"IIIIIII_I- 752, 737 40,674 213,891 59,531 66,512 50,377 62,552 86,119 33,446 25,213 31,391 19,336 63,695 May31 767,818 57,097 200, 640 60,762 72,837 57,487 59,931 78,861 50,149 17, 607 31,598 20, 315 60,534 S June 30.. 734,247 68, 718 142,591 59, 771 67,636 54,694 62,404 121, 265 38,290 12,416 26, 711 21, 657 58,094 July 31 "" 763,232 55,849 200.988 63,448 47,512 54, 516 71,288 84,651 37,350 19,141 26,545 27,525 74,419 Aug. 31 866,024 71,056 202,156 59, 718 60,544 59,508 79, 561 103,884 48,629 26,805 28,574 37,821 87,768 bi Sept. 30 907,391 91,866 183,215 61,805 75,955 55,119 89,211 127, 637 50, 611 19,124 26,624 37,190 89,034 Oct. 31 982,255 75,328 200.659 68,437 97,238 54, 414 90, 754 166,018 50, 974 27,168 32,554 34,368 84,343 Nov. 30 . " 980,257 86,293 257,612 63,222 104,219 40,375 78,059 155,053 44,073 17,326 33, 977 27,945 72,103 Dec. 31—- 968,904 113,303 263.434 70, 763 112,059 35,642 59, 751 147,725 39,072 16,341 24, 754 20,615 65,445 oo Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 32.—FEDERAL RESERVE NOTES: ISSUED AND RETIRED BY EACH FEDERAL RESERVE AGENT 00 to fin thousands of dollars] Outstand- Total Boston New York Philadelphia Cleveland Richmond ing at be- Month ginning of eac in h m 19 o 2 n 6 th Issued Retired Issued Retired Issued Retired Issued Retired Issued Retired Issued Retired d s 1926 January. _. 2,205, 560 39,026 209,460 1,700 44,495 17,020 20, 792 4,160 15,386 2,500 44,926 11,030 February.. 2,035,126 90,528 112,491 19,200 11,597 18,420 19, 594 5,600 11,040 16,080 14, 715 2,040 6,405 March 2,013,163 83,153 129, 613 4,400 13, 535 22,820 24, 653 8,720 13,084 9,750 13, 236 3,970 6,294 s April 1, 966, 703 160,525 123, 983 5,300 14,162 23,160 21, 791 8,800 11,430 12,100 13. 748 4,160 May—. 2, 003, 245 112,010 126,192 12, 450 13, 427 20,020 23, 679 5,000 12, 703 8,350 13,815 5,220 7,672 June 1, 989,063 151,185 145,044 21,000 14,834 22,300 5,000 14, 571 14,100 14, 609 4,980 5,711 July..— 1, 995, 204 146,630 138, 607 10, 750 14, 672 23,060 33,615 9,000 11,827 18,110 15,503 3,810 6,558 August.. 2, 003, 227 146, 500 119,091 16,800 12, 220 26.900 28,066 9,400 9,759 21,650 12, 665 7,920 5,150 September. 2, 030, 636 168, 350 133, 782 30,200 11,314 14,880 30, 549 12,080 10,093 20, 480 15,116 9,597 6,205 October 2, 065, 204 134, 866 133, 275 17,200 11, 557 34, 560 33,123 7,000 12, 894 12,600 12,790 8,186 5,743 November. 2, 066, 795 160, 593 118,036 10,800 9,038 38, 760 30,006 16,200 16,800 11, 759 9,660 4,371 December.. 2,109, 352 299, 869 148, 398 30, 800 24,166 71, 620 37,131 31, 900 10, 943 36,500 12, 851 9,010 4,620 Total: 1926_. 1, 693, 235 1, 637, 972 180, 600 195,017 333,520 331,897 122,860 142,819 189,020 195, 733 68, 553 75, 748 1925.. 1,461, 757 1, 501,158 212, 600 241, 860 278,280 285, 803 143, 200 163,063 212, 640 180,412 83,170 74, 754 1924.. 1, 276, 592 1, 853, 958 193, 350 207, 356 214, 580 398, 875 144,160 184, 333 132,900 184, 004 103, 710 120, 368 1923.. 1, 797, 393 1, 792, 257 195, 650 167, 342 346,270 408, 791 206, 400 194, 281 174,000 167,187 125,110 119, 299 1922.. 1, 949, 595 1, 914,195 179, 290 172, 647 470, 200 512.014 191, 860 171, 012 191,045 156,009 109, 720 115,113 1921.. 2, 049, 637 3, 003, 577 190,900 272, 297 538, 810 758,416 183, 410 251, 839 121, 440 260, 269 153, 820 197, 397 1920.. 2, 215, 254 1, 775, 312 225, 680 178, 844 373,080 276, 442 177, 420 134, 017 249,000 154,109 179,004 169, 675 1919.. 2, 482, 515 2,046, 570 225,500 139. 768 753,120 632,420 195, 660 189, 635 163, 565 146, 283 162, 777 162,070 Outstanding: Jan. 1, 1927- 2,260, 823 197, 425 522,218 175, 842 256,124 102, 438 Jan. 1,1926_ 2, 205, 560 211, 842 520, 595 195,801 262, 837 109, 633 Jan. 1,1925_ 2, 244, 961 241,102 528,118 215, 664 230, 609 101,217 Jan. 1,1924. 2, 822,327 255,108 712,413 255, 837 281, 713 117,875 Jan. 1, 1923. 2, 817,191 226,800 774, 934 243, 718 274, 900 112,064 Jan. l, 1922. 2, 781, 791 220,157 816, 748 222, 870 239, 864 117, 457 Jan. 1, 1921. 3, 735, 731 301, 554 1, 036,354 291,299 378, 693 161,034 Jan. 1, 1920. 3, 295, 789 254, 718 939, 716 247.896 283, 802 151, 705 Jan. 1,1919- 2,859, 844 819,016 241, 871 266, 520 150, 998 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco Month Issued Retired Issued Retired Issued Retired Issued Retired Issued Retired Issued Retired Issued Retired 1926 January __ 4,773 17,711 3,719 16, 262 2,459 904 6,325 300 11,956 150 7,861 3,800 10, 257 February 10,032 6,513 11,000 17,554 400 2,183 2,171 2,266 1,800 3,210 825 4,186 2,960 13,228 March 7,008 9,153 11,900 12, 884 600 1,736 3,435 4,315 2,190 3,631 1,100 2,941 7,260 24,151 April 59,175 20,958 25,400 11,358 3,200 2,258 5,300 4,936 1,500 3,244 1,850 3,217 10, 580 10, 892 May 10, 680 16, 599 23,700 15, 304 5,500 2,187 1,690 3,279 2,480 3,200 2,800 2,811 14,120 11, 516 June 23, 610 23, 696 29, 700 17, 708 3,800 2,121 5,355 3,636 3,190 3,274 2,950 2,569 15, 200 13, 417 July 16,105 14,188 25, 420 18, 315 4,400 2,021 6,425 3,451 6,420 3,616 4,650 2,880 18,480 11,961 August 4,325 12,146 29,960 14, 553 4,800 1,923 755 3,363 5,680 3,215 7,790 2,868 10, 520 13,163 September 14, 091 14, 560 30, 240 18,074 400 2,144 5,792 5,675 5, 680 3,883 9,310 2,341 15, 600 13,828 October 5,985 9,686 22,100 22,910 2,360 2,115 4,970 3,052 3,295 3,688 3,610 3,542 13,000 12,175 tel November 4,069 10,135 29, 240 2,500 2,601 5,239 2,063 14,155 3,706 3,150 3,224 10,020 13, 778 December 13, 975 10, 729 64,978 22,032 4,880 2,168 4,666 2,524 7,600 3,137 5,980 4,358 17,960 13, 739 Total: 1926 173, 828 166, 074 307, 357 205,220 32, 840 25,916 46, 702 44, 885 54, 290 49, 760 44,165 42, 798 139, 500 162,105 1925 115, 604 91,136 130, 200 143, 668 10,420 28,440 44, 330 45,920 51, 523 48, 605 36,470 45,436 143, 320 152,061 ft 1924 98, 525 89, 787 84, 880 333, 821 13, 540 41,198 52,030 46, 362 48,080 46,985 55,437 50, 374 135, 400 150, 495 in 1923 129, 464 106, 515 306, 840 314,815 33,220 54,000 40, 205 33, 670 39, 830 38,894 52, 240 37, 382 148,164 150, 081 tei 1922 98, 780 92, 281 329,140 305, 755 63, 430 64, 495 43, 361 41, 205 45,180 41,010 33,684 29,421 193,905 213, 233 1921 148, 940 200,056 293,980 480,999 74, 960 116, 248 39, 265 60,174 36, 730 79, 417 25, 762 70, 978 241, 620 255-,-487 1920 196, 035 176, 383 345, 330 246, 552 106, 470 115, 798 39,450 46, 507 72, 570 65,000 69, 245 63,135 181,970 148, 850 1919 183, 598 147,110 324, 320 239, 799 134, 025 98,426 39,990 50, 272 57,900 67, 662 55, 730 37, 581 186, 330 135, 544 Outstanding: Jan. 1, 1927. 199,052 302, 356 53, 504 75,063 89,087 56,123 231, 591 Jan. 1, 1926. 191,298 200, 219 46, 580 73,246 84, 557 54,756 254,196 tel Jan. 1, 1925. 166, 830 213,687 64, 600 74,836 81,639 63,722 262,937 XSl Jan. 1, 1924. 158,092 462, 628 92, 258 69,168 80, 544 58,659 278,032 Jan. 1, 1923. 135,143 470,603 113,038 62, 633 79,608 43, 801 279,949 Jan. 1, 1922. 128,644 447, 218 114,103 60,477 75,438 39, 538 299,277 Jan. 1, 1921. 179,760 634, 237 155, 391 81,386 118,125 84,754 313,144 Jan. l, 1920. 160,108 535,459 164, 719 88,443 110, 555 78,644 280,024 Jan. 1, 1919. 123, 620 450,938 129,120 98, 725 120, 317 60,495 229,238 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 33,—FEDERAL RESERVEWOTES: ISSUED, RETIRED, AND OUTSTANDING, BY DENOMINATIONS [In thousands of dollars] Total Fives Tens Twenties Fifties Hundreds hun F d iv re e ds Thousands tho F u i s v a e nds tho T us e a n nds Issued to banks: 3 1914-15 222,155 82,519 78,762 43,059 8,190 9,625 1916 208,457 78, 051 68, 591 48,832 5,772 7,211 1917 1,265,087 192,057 433,228 423,376 90,126 126,300 1918 2,095,695 383,769 634,451 805,055 140, 305 124,115 8,000 1919. 2,482,515 527,665 807, 561 796,030 155, 588 92, 639 22,757 55,955 9,000 15,320 1920 2,215,254 431,450 568,800 779, 060 184,240 120, 755 27,214 78,905 10,700 14,130 1922 2 1 , , 0 9 4 4 9 9 , , 6 5 3 9 7 5 4 5 7 0 3 7 , , 8 9 9 3 0 0 6 58 5 3 4 , , 8 7 4 9 2 0 5 6 7 6 7 1 , , 3 4 1 8 0 5 1 1 0 2 3 2 , , 4 0 6 6 5 9 9 82 0 , , 1 8 1 0 3 5 1 1 5 9 , , 1 7 9 9 6 1 3 3 8 1 , , 4 8 6 0 9 7 8 7, , 3 2 8 0 0 0 1 1 0 0 , , 4 2 0 9 0 0 s 1923 1, 797,393 479,200 499,155 570, 560 128,298 54,461 11,235 50,474 2,060 1,950 1924 1,276, 592 567, 940 248,140 329, 037 62, 282 37, 690 5,693 13,990 2,230 9,590 1925. 1,461,757 533,192 362, 695 381, 964 79, 770 52,030 9,801 26,065 5,240 11,000 1926. 1, 693, 235 547, 937 499, 330 465,577 86, 713 58, 590 9,383 20,875 730 4,100 Total 18, 717, 372 4, 805, 600 5,439,345 5,881,345 1,166,818 856,334 121,070 324, 540 45,540 76,780 Returned to agents: 1914-15 8,030 2,490 1,355 2,355 1,135 695 1916 122,472 ,55,183 46,231 15,269 2,934 2,855 1917_ 214, 573 74,918 65,049 35,807 8,487 30,312 1918 586,475 162,964 231,835 151, 949 21,392 18,335 1919 2,046, 570 452,728 708,838 690,313 107,802 72, 561 1,602 5,621 2,405 4,700 S 1920. ._ 1,775,312 401,856 566, 580 590,996 101,432 61, 606 8,211 26, 976 6,335 11,320 1921 3,003, 577 608,182 907,888 1,099, 340 198,417 125,322 16,873 47,015 120 420 1922 1, 914,195 418,291 558,128 618,255 133,373 101,646 15,809 42,148 12,455 14,090 1923 1,792,257 424, 533 553, 062 577,059 114,217 58,563 9,776 36, 492 8,625 9,930 1924. . 1,853,958 599, 522 460, 588 559,083 121,141 70.324 11,900 24,740 3,080 3,580 1925 1, 501,158 514, 023 342, 534 423,493 92,916 67, 598 12,608 28,021 5,485 14,480 1926 1, 637, 972 556y 647 433,347 438, 964 89,899 68,222 13,467 32,871 385 4,170 Total 16,456,549 4,271,337 4,875,435 5,202,883 993,145 678,039 90,246 243,884 38,890 62,690 Outstanding Dec. 31: 1915 214,125 80,029 77,407 40,704 7,055 8,930 1916 300,110 102,897 99,767 74,267 9,893 13,286 1917. 1,350,624 220,036 467,946 461,836 91, 532 109,274 1918. „ 2,859,844 44Q,841 870,562 1,114,942 210,445 215,054 8.000 1919 3,295,789 515,778 969,285 1, 220,659 258,231 235,132 21,155 58,334 6,595 10,620 1920 .- 3, 735,731 545,372 971, 505 1, 408,723 341,039 294,281 40,158 110.263 10,960 13,430 1921 2,781,791 411,120 718,459 970,868 245,691 259,072 39,076 95,055 19,040 23,410 1922 _ . . 2,817,191 500,719 744,121 929,923 234,783 240,231 42,463 91,376 13,965 19,610 1923. 2, 822,327 555,386 690,214 923,424 248,864 236,129 43,922 105,358 7,400 11,630 1924 2,244, 961 523,804 477,766 693,378 190, 005 203,495 37, 715 94,608 6,550 17,640 1925- 2, 205,560 542,973 497,927 651,849 176,859 187,927 34,908 92,652 6,305 14,160 1926 _ 2,260,823 534,263 563,910 678,462 173,673 178,295 30,824 80,656 6,650 14,090 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

VOLUME OF DISCOUNT AND OPEN-MARKET OPERATIONS OF FEDERAL RESERVE BANKS No. 34.—DISCOUNT AND OPEN-MARKET OPERATIONS: VOLUME, BY CLASSES CO OO [In thousands of dollars] Bills discounted for member banks l Acceptances p m u a r r c k h e a t sed in open United States secu m ri a ti r e k s e t purchased in open S Q Feder b a a l n r k eserve c T la ( o s a s t l e a l s l ) Total c M o n b l e l o a m a t n t e e b k s r e a r l a m p n g C t a a e . u r o p n r i e r c c m e d a . u i r l s a - l , . l - m d s a D r i a n a g e n f d h - t d t s e B a c r n s a e ' c n p a e t k - c s - - a T a c n r c a c e d e p s e t- Total 2 B B a o n u k g e h r t s' out T r r ig ad ht e B a r m w o e g s u e r i a e t g n h l e t h e - t Total Bond B s oug T n h u r o e t r t y a e o s s - utr i i n g c C d a h n e t e t r e e b t s s i t s f e o i- d f - B a r m w o e g s u r e i a e t g n h l e t h e - t s O t e ie t c h s u e r 3 r i- % O d o 1926 Boston 3,385, 233 2,767,740 2,732,185 34,782 102 671 539,002 318,837 220,165 76,738 3.156 7,838 58,085 7,659 1,753 New York 20,361, 693 17, 242,348 17,132, 757 107, 758 25 1,808 1,437, 565 253,980 5,292 1,177,168 1, 675,458 44,750 50,093 1,347, 518 233,097 6,322 Philadelphia. _ 2,602,326 2,401,191 2,301,117 98, 856 1,218 137,479 137,479 55,888 7,022 6,231 42, 635 7,768 Cleveland 3, 968, 015 3, 704, 378 3, 563,453 136, 202 4,723 153, 571 147, 352 299 236 107, 594 10,343 17, 388 79, 863 2,472 Richmond 2,831,719 2, 732, 649 2, 571,975 158, 791 1,883 81,174 81,174 16, 672 2,632 5,870 8,170 1,224 Atlanta .. 943,451 810, 592 i 465,998 339, 878 1,319 3,397 99, 201 99, 201 31,472 15,135 5,798 10, 539 2,186 Chicago 3, 598,898 2, 972,108 2,488,770 482,208 16 1,114 301, 759 221,616 80,143 321, 864 8,081 24,254 148,480 141,049 3,167 St. Louis 1, 619,104 1,504,868 1,146, 206 349,171 5,691 3,800 66,308 66,308 46,930 7,257 12,026 27,647 998 O Minneapolis 323,417 221, 889 203,483 18,392 14 63,057 63, 057 36, 600 14, 564 9,060 12,976 1,871 Kansas City 838,699 682,690 612, 059 70, 583 28 20 84, 588 84, 588 70, 518 6,184 17, 507 32,002 14,825 903 Dallas 375, 004 223,653 155,859 62, 999 4,452 343 72,203 70,160 2,043 78.341 10, 530 17,329 27,420 23,062 807 San Francisco.. 2,827, 015 2,418,0311 2,323,119 92,369 1,170 28 1,345 317,419 150,109 167,310| 89,970 7,508 27,488 54,974 1,595 H Total 43,674, 574 37,682,137, 35, 696,981 1,951, 989 12, 676 175 20, 316 3,353, 326 1,693,861 5,591 1,647, 065 j 2,608,045 137,162 200,882 1,850,309 419, 692 31, 066 M o 1 Includes agricultural paper discounted for Federal intermediate credit banks. For amounts see note below Table 39. GO 2 Includes bills payable in foreign currencies. For amounts see Table 48. 3 Represents foreign loans on gold except as follows: Municipal warrants, Minneapolis, $131,000; Federal intermediate credit bank debentures, Philadelphia, $5,575,000; Atlanta, $1,260,000; and Minneapolis, $1,000,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No, 35.—DISCOUNT AND OPEN-MARKET OPERATIONS: MONTHLY VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member banks1 Acceptances m p a u r r k c e h t ased in open United States secu m ri a ti r e k s e t p > urchased in open Total Commer- Bought outright Bought outright Other Month (all Total c M o n b l e l o a a m t n t e e b k s r e a r l c p u a a a c l g t n i p u a r d e i l r - r a , l d m s a D r ig a n a e f n h d - t d t s a B a c e n a c r c n e s e p ' k s t - -a T c a c n ra e c p d e t e s - Totals Bankers' Trade B a m w o g u r e i e t g n h e h t - t Total Bonds T n r u o e r t a e y s s - in c C d a n e t e e e r b t s s i t s f e i o - d f - S a m w r o g e u r e s i e t g n a h e l h t - e t s i e ti c e u s r - « n. e. s. Janua 1 r 9 y 26 .. 3,034,567 2,806,899 2,650,227 153,168 2,072 1,432 199,202 126,473 527 71,979 28,266 2,742 180 2,364 22,980 200 3 February- 3,371,797 3,081,456 2, 956,153 123,288 1,213 802 245,483 107,779 546 136,885 35,358 510 362 2,109 32,377 9,500 March.... 4,163,361 3,217,081 3, 002, 321 211,907 724 102 2,027 242,686 104,390 166 137,364 699,359 14,042 46,435 583,203 55,679 4,235 April 3,222, 945 2, 873,342 2. 716. 729 154,339 427 1,847 260, 514 122,896 400 136, 781 85,889 32,326 24,562 12,068 16,933 3,200 May 3,149, 702 2,730,344 2, 575,159 153,803 293 1,089 364,484 150,591 326 213,159 45,174 4,795 5,191 408 34,780 9,700 June 3,225,401 2,274,908 2,122,278 150,461 363 1,778 318,368 153,993 173 163, 280 631,625 10, 755 71,384 507,242 42,244 500 July 3,595, 539 3,285,302 3,122,933 160,013 575 1,766 244, 287 128,681 755 114, 777 64,850 11, 200 9,312 2,950 41,388 1,100 August... 3,362,974 3, 111, 183 2,965, 821 143, 512 354 1,496 226,240 163,826 5 61,442 25.051 1,366 168 232 23,285 500 I September 4,380,690 3,751, 745 3, 577, 034 172,167 999 1,535 234,255 136,366 867 96, 557 394,690 15, 077 3,453 349, 790 26,370 October 3, 736,680 3,429,897 3, 241, 679 183,600 1, 954 2,664 263, 286 171,289 153 91,350 41,497 5,719 4,023 6,906 24,849 2,000 November 3,480,262 3,057, 952 2, 895, 937 158,129 2,419 1,447 329, 564 148,890 628 178, 946 92, 682 13, 261 9,331 29,945 40,14, 64 December 4,950,656 4,062,0281 3,870, 710 187, 602 1,283 2, 433 424, 957 178, 687 1,045 244, 545 463,604 25,369 26,481 353,092 58,662 67 Total: 1926...43, 674, 574 37,682,137 35, 696, 981 1, 951, 12,676 175 20,316J 3,353,326 1, 693, 861 5,591 1, 647, 0652, 608, 045137,162 200,882 1, 850,309 419, 692 31,066 1925.._37,891,421 32,562,620 30,928,464 1,586, 562 23, 850 56! 23, 688 2, 961,170 2, 951, 923 4,765 () 2,317,082 38,037 95,625 1,479,874 703, 546 50,549 1924... 19,863,473 15,419,155 12,456, 575 2,877,127 46, 621 5071 38,325 2,172,142 2,163,690 8,452 2, 257,018118, 312 433, 920 1,378,172 226,614 15,158 1923...44,428,375 38,379,926 29, 916, 868 8, 340, 676 67,457 3, 5321 51,393 2, 547,010 2, 533,470 13, 540 3, 500,903• 7 51,025 2,304,081 ,083,960 536 1922_..28, 543,552 22,082, 88715,683,483 6,351, 716 3,416 44,272 1,954.688 1,948,379 6,309 4,505, 8016350,196 818,972 3,336,633 (6) 176 1921...63,141,1 57,759,128 31, 229,142 26, 343i,,947 57,095 128,944 1, 534,401 1,527,235 7,166 3,847,0946 38, 532 3, 742,664 985 ft 1920...96, 527,548 85,320,874 55, 565,447 29>, ,~ 3^76,108 187,162 192,157 3, 218,364 3,143,737 74,627 7, 988,310 6 332 7,987,978 1 1 9 9 1 1 9 8 . . . . . .4 86 7 , ,4 73 1 7 4 , ,5 0 3 6 1 7 3 7 9 9, , 1 7 7 5 3 2 , , 9 9 3 7 4 0 7 33 2 , , 0 5 0 4 7 8 , , 7 0 8 08 8 ~6 6, , 4 5 1 3 5 7 , ,8 8 3 9 3 9 7 19 1 , , 6 94 4 0 3 1 1 3 8 8 7 , ,3 4 7 2 3 0 2 1, , 8 80 2 9 5 , ,1 5 7 3 7 9 2 1 , ,7 78 4 8 8 , ,5 6 0 1 3 9 3 6 6 1 f ,0 5 3 5 6 8 4 5 , , 7 8 3 5 7 0 , , 9 3 2 4 0 8 6 7 1 3 , , 7 9 5 9 7 6 520 4 5, , 7 7 3 75 6 , ,1 8 6 3 3 2 i »Includes agricultural paper discounted for Federal intermediate credit banks. For amounts see note below Table 39. 1 Includes special temporary certificates issued to Federal reserve banks by the Secretary of the Treasury; also, prior to 1922 securities, if any, purchased from other Federal reserve i banks in addition to purchases in open market, separate figures not being available. 3 Includes bills payable in foreign currencies. For amounts see Table 49. * Represents foreign loans on gold, Federal intermediate credit bank debentures and municipal warrants as follows: Foreign loans on gold, 1926—January $200,000, February $9,500,000, March $2,100,000, April $700,000, May $9,000,000, June $500,000, July $1,100,000; 1925—$41,585,000; 1924—$6,000,000; Federal intermediate credit bank debentures: 1926—March b $2,135,000, April $2,500,000, May $700,000, August $500,000, October $2,000,000; 1925, $8,900,000; 1924, $9,100,000; Municipal warrants, 1926, November $64,000, December $67,000* 1925 $64,000; 1924, $58,000. Figures for prior years represent municipal warrants. ' ' * Included in preceding columns. * Includes Victory notes. For amounts see note below Table 57. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 36.—DISCOUNT AND OPEN-MARKET OPERATIONS: VOLUME, BY MONTHS 1 [In thousands of dollars] Prior years Septem- Novem- Decem- Year Federal reserve bank January February March April May J une July August ber October ber ber 1926 1925 1924 1926 a Boston... 170,935 241,200 237,050 174,872 195, 891 232, 235 284, 763 280,810 387,1201 428, 919 290,162 461,276 3,385,233 2,542,755 1,225,078 o N Ph ew ila d Y e o l r p k hia. 1, 1 58 8 9 7 , , 4 3 0 4 6 5 1,8 2 9 3 5 2 , , 7 03 5 9 3 1,9 2 1 9 0 0 , , 3 9 3 6 2 9 ! ! 1,6 1 0 7 7 7 , , 7 7 2 3 2 0 1, 1 5 5 9 2 0 , , 4 6 9 9 5 4 1,4 1 5 9 0 1 , , 0 6 6 5 8 3 1 | 1,9 1 3 6 5 7 , , 8 64 2 9 1 1, 1 6 8 9 1 0, , 0 0 0 4 0 1 : 2,0 2 6 2 3 2 , , 0 9 3 4 1 3 1 1,2 2 4 28 7 , , 9 5 9 1 7 5 1, 2 2 02 8 , 1, 6 9 5 9 8 92,0 3 9 6 8 7 , , 9 2 3 2 1 8 1 ! 2 0 2 , ,6 3 0 6 2 1 , , 3 6 2 9 6 3 1 2 9 , , 2 8 5 9 2 9 , , 9 1 0 2 7 69 1 , , 4 4 1 1 9 7 , , 4 6 1 8 8 2 d Cleveland 229, 052 152,200 307,858i 237,091 307, 330 308, 788! 253, 380 188,148| 314,688 465, 349 497, 001 707,130! 3,968, 015; 3, 327,9421, 577,400 Richmond. 165, 051 179, 752] 327,186 265,614 242, 343 281,374 224, 812 219,640i 287, 736 296, 363 178, 660 163,189) 2,831,719| 2,321,909 1,373,844 C A h tl i a c n ag ta o 28 8 2 5 , , 5 9 2 4 4 9 23 6 6 0 , , 0 4 7 2 4 6 3 1 8 0 2 2 , , 3 5 6 6 7 1! j 2 8 51 4 , , 9 2 6 1 7 5 1 6 82 5 , , 5 23 6 5 1 29 71 2 , , 1 9 6 1 4 8 1 ( 2 7 1 1 0 , , 0 8 7 3 5 1 2 7 4 0 2 , ,1 9 7 7 6 2 31 9 9 0 , , 0 3 8 5 6 8 35 9 3 3 , , 1 6 6 4 8 6 1( 37 72 8 , , 6 6 9 4 4 2 46 7 7 4 , , 3 3 9 4 9 13, 9 5 4 9 3 8 , , 4 5 8 1 9 8 2 7 , 2 3 5 , 5 0 3 2 . 3 3 ! 4 31 6 1 29 . , 4 8 2 2 7 4 ,923 St. Louis.. 87, 531 89,206 129, 904| 108, 593 108,353 96, 220| 113, 069 117,929 197, 745 201,614 157,025 211, 9151,619,104! 838,289 685,404 i Minneapolis... 15, 799 19, 946 25, 964) 26,647 18, 220 20, 719; 21,946 35,064 42, 933 39,305 32, 706 24,168 323,417! 208, 598 260,529 D K a a l n l s a a s s City.__ 6 2 2 9, , 5 4 0 6 6 0 1 1 2 3 4 , ,5 3 5 2 7 6 1 3 27 6 , , 6 6 6 06 9 ! 2 5 1 6 , ,1 3 0 8 1 5 5 1 3 8 , , 1 2 2 1 5 5 4 3 7 0 , , 8 1 7 0 7 7 ! ! 2 58 8 , , 1 5 8 1 0 5 3 5 5 2, , 7 1 3 9 9 5 8 48 2 , , 1 4 1 3 4 7 3 3 6 7 , , 4 7 1 1 7 8 J 1 6 3 6 7 , , 6 1 0 9 7 0 3 7 9 0 , , 2 3 5 9 8 9 8 3 3 7 8 5 , , 6 0 9 0 9 4 ! ' 2 4 9 5 6 4 , , 1 5 8 9 6 2 } 3 3 4 0 0 4 , , 5 1 8 1 2 5 I San Francisco. 129,009 127,318 284,896! 211,008 215,240 202, 278! 225,498 249, 260 324,499 307,669 284,918 265,422 2,827,0151 2,472,7511 1,201,674 Total: 1926.. 3,034, 567 3, 371, 797 4,163,361' 3,222,945 3,149, 702 3,225,401 3, 595, 5393, 362, 9744,380,690 3,736,680 3,480,262 4,950,656 431.,674. 574 1925.. 1, 735,088 2, 622, 500 3,711,6941 2,572,047 2, 348,836 2, 967, 676 3,117, 5933, 433,0524,168,631 3,738,562 2,878,847 4, 596,895 3'7, ,891,421 n 1924.. 2, 612, 539 2, 811,485 2, 491.195; 2,164, 953 1, 559, " 1,034, 596 901,940 543, 5991,138,133 1,180, 4381,089,168 2,335,466 19>,, 863,473 1923.. 5, 612,099 4,024,196 3,970.254| 3,543,495 3,876, 835 3, 575, 386 3, 765, 9513,296, 5022,980, 549 3,096,430 3, 111, 9793, 574,699 4t4, ,428,375 1922.. 2, 646, 595 2,522,410 2,597,127 1,646,968 1,382,349 2,101, 432 1, 586,3991,469,069 1,915.587 2,812,551 3,397,691 4,465,374 28, 5431!,552 1921. 8, 654,134 8, 309,185 7,967.010 5,084,648 5,040,858 4, 799, 534 3,847, 005 3, 663,1633, 650,2633, 729, 5813, 525, 7924, 870,435 6,31,41,608. 1920. 7,186,317 7,122,048 8,770,1.00 7,474,478 6,452, 944 7, 300, 839 7, 518, 907 8,366, 5718, 447,2678,013, 2768,715,061100,,659,740 96527,5481 1919. 7,025, 336 5,454,819 5,706,085 6,125,884 7, 620,107 6, 771, 913 7, 692,825 6, 808, 7478, 801, 2928,468,032 7,812,081 8,449,946 86,T37.067f 1918. 1, 525, 985 1,443,795 1,993,080 2,605,720 3,309, 20^ 3, 655, 664 3, 490,037 3, 955, 6124, 953, 9696, 793,0195, 569, 7098,118,734 47',,414,531 1917. 49,105 99, 503 66,495 95, 739 174,129 887, 502 547,434 297. 024 678,063 2, 770, 8063, 394,4171,091,909210,152,126 O 1916. 37,151 40,029 50,981 50, 861 48,200 60,785 64,355 47, 902 58, 680 63, 282 79,645 139,531 741,402 1915. 23,450 20, 346 26,835 17, 839 20,243 23,179 27,048 29,375 23, 556 23,961 38,179 33,760 307,771 1914. 9,949 12,344 22,293 1 Prior to 1922, figures include securities, if any, purchased from other Federal reserve banks in addition to purchases in open market. Separate figures not available. 2 Includes $170,072,483 of acceptances purchased from the Federal Reserve Banks of Boston and New York by other Federal reserve banks. Excludes purchases of United States certificates pf indebtedness, figure? of which are not available, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 37.—BILLS DISCOUNTED: VOLUME, BY MONTHS 00 00 [In thousands of dollars] Total reduced to a common maturity basis (exclu- Federal reserve bank January February March April May June July August Sep be t r em- October No b v e e r m- De b c e e r m- Total s a i n v d e si o g f h t d d e ra m ft a s n ) d J I Per cent Amount of total w 1926 o Boston.. __. 130,326 205,643 199,529 124,989 149,351 146,259 230, 380 237, 749 325,071 375,207 250,220 393,016 2,767,740 2,247,362 6.0 New York 1, 529,689 1,746, 766 1,268,798 1, 485,4421, 377,695 903,683 1, 810,7971,614, 4771,746,477 1,146, 7661,058, 9231, 552,835 17,242,348 I, 671,428 25.7 Philadelphia 181,967 223,971 267, 698 161,145 140,577 157,374 156, 609 170,120 202,597 215,721 188, 767 334,645 "2 ,4•0"1• ,1•"9•1 2, 864, 631 7.6 o Cleveland 218,015 139,673 288, 703 216,726 289,323 246,986 240,643 173,261 279,642 450, 809 480, 396 680,201 3,704,378 3,018,412 8.0 Richmond 159, 21 173,699 318,411 255,411 234,151 271,502 218, 688 212,125 279, 741 288,192 170, 801 150,711 2,732,649 1,993,197 5.3 A Ch tl i a c n ag ta o 2 7 4 4 7, , 7 0 9 6 4 8 20 5 5 3 , , 8 9 2 7 9 2 29 8 8 7 , , 0 5 1 4 2 5 20 7 7 3 , , 0 6 1 6 8 5 1 5 40 1 , . 6 7 6 2 0 2 1 1 5 9 5 8 , , 8 6 1 5 6 1 1 6 7 0 4 , , 9 8 7 0 4 7 20 6 8 2 , , 4 2 1 6 1 2 24 7 6 9 , , 2 8 5 3 2 3 30 8 7 2 , , 8 68 4 5 3 33 63 9 , , 2 0 4 5 7 0 3 6 9 5 6 , , 6 8 9 8 5 9 2,9 8 7 10 2 , , 1 5 0 9 8 2 3 6, , 0 6 6 1 4 0 , , 3 6 7 4 2 4 1 8 7 . . 1 5 W St. Louis.... 74,228 83,082 HI, 229 102,377 96,981 86,955 107,913 112,146 190,214 195,447 148, 594 195,702 1,504, """ 3,022,299 8.0 Minneapolis __ 11,163 15,283 15, 689 16,406 11,5941 10,994 16, 777 27, 755 27, 037 30, 359 26,311 12, 521 221, 889 470,484 1.2 Kansas City 53,212 118,490 107,622 43,1431 38,454| 29,027 50,809 44,650 64,729 27, 528 55,262 49,764 682,690 1,073,729 2.9 fed Dallas... 18, 554 6,789 12, 331 11,344 10,410! 14,552 19,229 25, 810 30,277 28, 632 27,273 18,452 223,653 741,744 2.0 W San Francisco 108, 666 108,259 241,514 175,676 189,426| 153,109 197, 676 222, 417 279,875 280, 708 249,108 211,597 2,418,031 2,891,159 7.7 Total: 1926 2,806, 899 3, 081,4563, 217, 0812, 873,342;2,730,344 2,274,908 3,285,302 3,111,183 3, 751, 7453,429,897 3,057,952 4,062,028 37, 682,137 37, 669,461 100.0 1925 1,488,— 2,313,147 2,870,496 2, 302, 6211,980,725 2,454, 7132,831,228 3,199, 3673, 526, 5173,331,110 2, 537,9663, 726, 642 32, 562, 620 1924 2,295,565 2,462,407 1, 709,3291, 935, 5901,403,502 702,889 733,457 428, 508 700,125 839, 900 724, 7571,483,126 15,419,155 1923 3, 691,259 3, 720, 5473, 519, 7003,291,071 3,532, 5133,098,131 3,487,407 3,052,050 2, 621,9612, 794, 8522,676, 7992, 893, 636 38, 379,926! fftt 1922 2,345,365 2,080,372 1, 753, 0981, 308,0551,113,930 1,159,318 1,317,602 1,094,307 1, 267, 3582,172,114 3,155, 7753, 315, 593 22,082,887 W 1921.... 8,258,163 8,120, 8497, 368,2684,912,652! 4,253,864 3,674,977 3, 735,0783, 513,0633,033,109 3,489, 2683,231,271 4,168, 566 57, 759,128 1 19 9 2 1 0 9.... 6 5, , 9 2 9 4 4 1 , , 3 2 8 7 2 1 4 6 , , 9 8 5 0 1 , 7, 9 4 3 3 6 96 5, , 4 9 7 7 3 0 , , 5 33 6 1 45 6, , 2 9 2 0 9 1 . , 7 4 4 0 0 2 J 7 6 , , 3 1 8 3 5 5 , , 8 9 3 8 3 4 6 6 , , 3 3 2 3 8 6 , , 9 6 1 4 2 2 6 7, , 1 8 7 3 1 , 4 4 , 3 9 5 247 6, , 4 9 3 8 3 2 , , 6 5 6 2 2 47 6, , 7 2 2 9 6 8 , , 1 9 5 7 5 2 8 7 , , 0 5 6 4 0 8 , , 3 1 4 8 567 7, , 4 8 1 8 4 2 , , 4 9 9 8 339 7 , , 4 2 6 9 1 0 , , 6 87 5 3 8 8 7 5 9 , , 3 1 2 7 0 3 , , 8 9 7 7 4 0 o w 1918 868,230 762,445 754,934 2,172,580 2,993,019 3,137,226 3,343,458 3, 762,2594, 685,1405,903,963 5,154, 5976,215,083 39, 752, 934 1917 18, 326 22,409 26, 789 50,056 91,413 750,270 460, 733 220,940 548,164 2, 681,1663,206,487 892,238 8,968,991 1916 11,115 7,665 9,387 11,522 11,195 11,660 20,183 17,352 14, 309 11, 863 17,904 63, 716 207,871 1915 10, 713 12, 530 13,400 10,549 12,145 13,406 13,238 12,234 14,405 15,051 18, 270 15,412 161, 353 1914 9,949 11,462 21,411 1 Total discounts multiplied by ratio of average maturity of bills discounted by each bank to average maturity (8.04 days) for system. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 38.—MEMBER BANKS ACCOMMODATED THROUGH^ DISCOUNT OPERATIONS: NUMBER, BY MONTHS Prior years Federal reserve bank January February March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- Y 19 e 2 a 6 r 1925 1924 1926 Boston 172 162 199 179 175 152 155 159 152 164 202 286 297 317 New York.- 359 368 401 392 387 420 357 326 342 367 362 405 603 600 593 Q P C h le il v a e d la e n lp d hia 385 3 2 7 6 4 3 3 2 9 9 3 5 3 3 8 1 8 2 4 3 0 1 2 0 4 3 1 1 0 2 3 2 8 7 9 3 2 3 5 6 1 2 3 26 5 1 9 3 27 6 0 5 377 3 4 1 2 5 4 4 5 6 5 6 8 4 4 8 5 3 0 4 5 8 2 5 5 O Richmond... 259 248 283 301 295 319 309 292 272 271 252 245 430 428 463 Atlanta 146 140 203 189 215 223 246 234 208 174 182 165 333 320 390 Chicago 541 473 488 501 527 540 511 507 478 511 536 578 814 825 922 St.Louis 179 171 200 212 216 222 222 220 222 232 229 218 330 339 391 Minneapolis 76 68 86 112 123 129 130 130 100 107 106 104 270 290 476 Kansas City__. 169 149 175 209 224 239 164 136 159 166 174 156 453 410 586 Dallas 70 88 134 163 211 252 227 236 177 133 102 88 453 361 492 San Francisco 174 155 188 197 197 204 210 167 142 108 104 124 347 380 420 All banks: 1926.. 2,838 2,659 3,045 3,155 3,282 3,458 3,190 3,016 2,879 2,856 2,871 3,024 5,343 1925.. 2,554 2,415 2,731 3,016 3,209 3,289 3,207 2,979 2.729 2,796 2,876 3,021 5,183 1924.. 3,663 3,465 3,516 3,744 3,795 3,706 3,432 3,052 2,786 2,663 2, 573 2,783 6,060 1923.. 3,294 2,976 3,282 3,507 3,942 4,110 3.960 3,600 3, 752 3,732 3,698 6, 333 1922.. 5,350 4,847 4,701 4,738 4,636 4,436 4,167 4,042 3,944 3,793 3,859 3,873 6,956 1921.. 5,293 5,107 5,320 5,568 5,632 5,745 5,607 5,453 5,427 5,572 5,622 5,676 7,415 1920.. 3,461 3,338 3,670 4,175 4.642 4,948 4,858 4,780 4,758 4,952 5,275 5,551 6,941 1919.. 3,316 3,091 3,575 3,875 4,035 4,047 3,685 3,460 3,722 3,839 3,649 3,659 5,993 i 1918.. 1,432 1,353 1,568 2,100 2,793 3,021 3,462 3,671 3,464 3.610 3,667 3,288 5,493 1917.. 309 262 315 384 590 900 960 990 953 1,140 1, 574 1,701 3,127 1916.. 614 451 535 606 655 678 642 483 448 383 336 314 1,788 1915.. 469 570 606 693 813 760 711 761 794 835 754 1,920 1914,. 132 339 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 39.—DISCOUNT OPERATIONS, BY STATES: VOLUME OF DISCOUNTS, NUMBER OF MEMBER BANKS, AND NUMBER ACCOMMODATED [Amounts in thousands of dollars] Number of member banks onDec. 31 i Number accommodated during— Total amount of paper discounted1 Division and State 1926 1925 1924 1923 1926 1925 1924 1923 1926 1925 1924 1923 United States _. 9,260 9,489 9,682 9,896 5,343 5,183 6,060 6,333 37,682,137 32,562,620 15,419,155 38,379,926 New England: Maine 61 62 62 64 33 37 42 40 33,826 42,347 42,267 49,002 New Hampshire _ 56 55 54 55 39 39 42 42 41,450 42,577 42,453 60,722 Vermont 46 46 46 47 30 28 36 29 19.566 18,158 18,024 27,118 Massachusetts 181 181 182 183 135 146 148 153 2,557, 919 1, 872, 751 645,969 3,395,562 Rhode Island 17 21 21 20 12 14 13 13 21. 810 26,606 16,117 30,023 Connecticut 67 66 66 67 46 41 45 46 108,059 71,710 63,955 102,832 Middle Atlantic: New York 655 636 632 620 429 438 436 433 16, 288,428 16,522,907 6,653,107 17,408,097 N Pe e n w n s J y er l s v e a y nia. 3 9 5 7 4 0 3 9 3 5 3 8 9 3 5 1 3 3 2 93 9 9 9 2 61 4 3 7 2 5 3 0 5 9 2 5 2 9 1 2 2 5 2 8 0 7 4 1 , , 7 09 7 9 4 , , 7 9 7 4 9 3 3,8 6 4 9 3 9 , , 9 6 3 8 6 4 1, 5 8 2 8 8 8 . , 1 7 4 7 4 5 4,1 7 1 3 8 8 , , 8 6 8 9 8 2 W East North Central: Ohio 430 441 447 456 276 285 281 282 1, 099.125 1,083,257 489,691 933,910 Indiana _ . 257 264 268 272 141 149 169 176 148,441 108,387 112,549 201,529 Illinois. 577 589 583 591 321 311 342 335 1,385,029 888,176 402, 748 1,328,285 Michigan _ _ __ 291 290 286 284 174 161 177 185 1,213,003 945,034 378.601 783,676 Wisconsin 179 185 187 187 68 73 95 107 225,568 114,791 94,665 144,786 West North Central: Minnesota.. 307 331 364 375 91 99 139 161 203,957 73.903 64,095 232,199 Iowa 371 417 446 455 230 265 303 333 68,190 83,057 122,560 181,396 Missouri _ _ _ 199 198 192 192 108 110 123 121 1,079,595 426,014 279,964 1,118,523 North Dakota- 148 163 174 188 53 52 106 118 4,915 3,430 12,030 14,276 South Dakota ._ 109 122 133 147 59 52 95 105 6,412 8,319 13,448 19,594 Nebraska 167 181 187 194 112 108 133 149 122,761 69,966 50,305 173,458 Kansas . . 262 266 265 278 95 74 118 128 23,072 15, 378 20,994 32,926 South Atlantic: Delaware ______ 23 22 22 22 14 15 15 17 11,550 8,078 5,976 11,578 Maryland . 89 89 91 94 54 54 58 62 517,286 410,487 160,308 485,142 District of Columbia. _ __ 13 13 15 15 10 9 11 12 177,171 126,566 105,456 613,041 Vriginia 182 193 196 195 143 146 155 146 1,079,021 785,602 507,935 1,235,751 West Virginia _ 141 141 142 142 83 82 92 75 207,127 201,272 260,940 206,836 North Carolina . 88 91 95 97 75 78 80 87 718,093 733,970 308,177 358,458 South Carolina 84 92 100 103 74 69 78 81 72,292 57,007 55,981 46,491 Georgia 138 153 172 184 121 131 156 143 241,522 192,591 161,060 210,443 Florida 73 70 69 71 41 17 42 48 45,219 2,941 28,218 70,065 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

East South Central: Kentucky 147 146 147 149 60 67 75 71 539,936 250,809 186,961 746,537 Tennessee 112 118 120 122 65 63 80 62 231, 226 114,938 200,045 229, 722 Alabama 123 124 126 132 88 88 90 75 76,144 47, 733 65,377 Mississippi 41 45 44 39 31 26 32 30 24,094 14,451 25,760 West South Central: Arkansas 109 122 126 126 74 77 88 81 111,101 69, 635 73, 260 87,571 Louisiana 44 46 47 50 28 35 41 40 324, 753 228,025 275, 523 Oklahoma 361 382 430 465 167 146 237 259 32,153 17, 349 37, 621 60,393 Texas 763 779 751 754 417 309 415 523 211, 510 114,191 131,290 267,971 Mountain: Montana 102 111 130 164 48 60 102 132 2,107 1,792 7,473 17,997 Idaho 74 80 101 110 38 56 66 83 12, 566 35, 689 76,419 127,964 Wyoming 34 34 39 49 9 11 27 27 787 484 4,637 5,041 Q Colorado 131 134 144 146 67 72 76 89 110, 579 68, 720 35,445 139,377 O New Mexico 32 33 36 46 14 21 27 41 1,619 2,497 5,951 15,056 Arizona 18 20 23 25 8 8 19 22 4,098 2,309 2,196 5,337 Utah 45 46 49 52 33 36 34 38 42, 763 52,091 22,293 35,792 Nevada 10 10 11 11 1 1 1 37 Pacific: Washington 150 156 158 165 78 82 87 101 152, 548 151,109 71,349 122, 584 Oregon 130 134 137 136 57 60 61 63 109, 758 84, 381 63,468 107,644 California- 299 300 300 319 134 138 159 161 2, 099, 266 1, 827, 435 693,935 1, 710, 698 1 i The figures for 1926 and 1925 represent the number of member banks in actual operation; those for 1924 and 1923 the number shown by the capital stock records of the Federal reserve banks. 3 i Includes agricultural paper discounted for Federal intermediate credit banks, as follows: By Federal Reserve Bank of Atlanta for the Federal Intermediate Credit Bank of Columbia, S. C, 1926—January, $150,000; February, $300,000; March, $1,000,000; April, $200,000; September, $110,000; October, $1,078,000; and November, $400,000; 1925—April, $555,000; May, $250,000; September, $850,000; and October, $1,100,000; 1924—January, $250,000; 1923—November, $250,000. By Federal Reserve Bank of San Francisco for the Federal Intermediate Credit Bank of Berkeley, Calif., 1926—February, $650,000; May, $100,000; June, $550,000; July, $300,000; September, $400,000; October, $1,400,000; November, $1,360,000; and December, $1,200,000; 1925—December, $900,000; 1924—April, $750,000; and November, $100,000; 1923—December, $2,000,000; and for the Federal Intermediate Credit Bank of Spokane, Wash., 1926—April, $157,000; May, $31,000; June, $174,000; July, $676,000; and December, $265,000; 1925—August, $229,000; and December, $522,000. I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 40.—BILLS DISCOUNTED: VOLUME DISCOUNTED FOR NATIONAL BANKS AND FOR STATE BANK MEMBERS CD to [In thousands of dollars] Total t Discounted for national banks Discounted for State bank members Federal reserve bank 1926 1925 1924 1923 1926 1925 1924 1923 1926 1925 1924 1923 Boston 2,767,740 2,065,956 822,170 3,652,775 2,380,979 1,575,194 579,535 2,981,222 386,761 490,762 242, 635 671,553 New York... 17,242,348 17,067,799 7,030,842 17,951,843 11,767,579 12,268,367 5,631,414 14,015,575 5,474,769 4,799,432 1,399,428 3,936,268 1 Philadelphia. 2,401,191 2,014,776 1,264,030 2,911,142 1,655,895 1,486,206 887,361 2,275,513 745,296 528,570 376,669 635,629 Cleveland 3,704,378 3,158,818 1,348,025 2,436,808 1,690,077 1,583, 854 990, 530 1,402,831 2,014,301 1, 574,964 357,495 1,033,977 Richmond. 2, 732,649 2, 265, 229 1,357,776 2,910,687 1,558, 915 1,472,233 1,002,550 2,485,609 1,173,734 792,996 355,226 425,078 Atlanta 810,592 527,946 550,312 728,081 484,973 305,503 410,837 322,381 229,152 244,559 316,994 Chicago 2,972,108 2,075,378 1,035,261 2,508,082 1,605,088 1,191, 577 671,972 1,794,681 1,367,020 883,801 363,289 713,401 St. Louis.__ 1,504,868 718,720 605,118 1,679, 671 935, 643 410, 667 369,946 1,183,856 569,225 308,053 235,172 495,815 Minneapolis... 221,889 92,374 100,354 290,054 218,472 88,211 92,564 274,791 3,417 4,163 7,790 15,263 Kansas City... 298,936 227,744 901,126 354,453 186,121 172,812 446,854 328,237 112, 815 54,932 454,272 Dallas 223,653 123,701 148,383 300,694 210, 995 113,859 129, 502 274,271 12, 658 9,842 18,881 26,423 San Francisco.. 2,418,031 2,152, 987 929,140 2,108,963 885,355 634,848 492, 566 1,138,509 1, 525,413 1,516,488 435,724 968,454 tel Total. 37,682,137 32,562,620 15, 419,155 38,379,926 23,748,424 21,307,176 11,326,255 28,684, 549 13,923,212 11,251,038 4,091,800 9,693,127 1 Includes agricultural paper discounted for Federal intermediate credit banks as follows: Federal Reserve Bank of Atlanta for the Federal Intermediate Credit Bank of Columbia, S. C: In 1926, $3,238,000; in 1925, $2,755,000; in 1924, $250,000; and in 1923, $250,000. Federal Reserve Bank of San Francisco for the Federal Intermediate Credit Bank of Berkeley, Calif.: In 1926, $5,960,000; in 1925, $900,000; in 1924, $850,000; and in 1923, $2,000,000. For the Federal Intermediate Credit Bank of Spokane, Wash.: In 1926, $1,303,000; and in 1925, $751,000. 002 tel % tel > o Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No* 41.—BILLS DISCOUNTED: VOLUME, BY MATURITIES AND BY RATES OF DISCOUNT CHARGED [Amounts in thousands of dollars] Co 0 r 0 Total Maturity Rates charged Federal reserve bank Amount ( m A in a v t d e u a r r a y i g s ty e )1 a D n d e d r m a s f a i t g s n h d t Wi d t a h y in s 15 16 d a to y s 30 31 d a to y s 60 61 d a to y s 90 9 6 1 m da o y n s t h t s o O w m v i o e t r n h 6 t in h b s 9 ut fyi per cent 4 per cent O 1926 O Boston 2,767,740 6.53 2,735,957 8,467 11,920 10,979 417 2,767,740 d New York 17,242,348 4.51 17,141,353 15,723 29,180 55,857 233 5,807,455 11,434,893 Philadelphia 2,401,191 9.59 2,309,937 17,669 33,739 39,608 238 2,401,191 Cleveland 3,704,378 6.55 3,580,109 27,703 42,407 51,728 2,322 109 3,704,378 Richmond. 2,732,649 5.86 2, 585,281 29, 644 56,775 53,449 5,839 1,661 2, 732,649 Atlanta 810,592 30.44 1,319 495, 521 57, 927 106,472 136,648 9,806 2,899 810,592 Chicago 2, 972,108 17.88 16 2,533,450 96,151 163,426 157, 963 20,170 932 2,972,108 St. Louis 1,504,868 16.20 5,691 1,206,838 76,712 118,641 87,895 2,329 1,504,868 Minneapolis. _.. 221,889 17.04 204,020 1,627 4,444 5,522 5,216 1,060 221,889 Kansas City 682,690 12.64 28 615, 920 10,066 17,135 18,658 19,968 915 682,690 i Dallas 223,653 27.20 4,452 161,335 9,102 18,036 22,411 6,947 1,370 223,653 San Francisco 2,418,031 9.62 1,170 2,331,610 11,480 25, 111 33, 347 12,107 3,206 2,418,031 Total 37, 682,137 8.04 12, 676 35,901,331 362,271 627,286 674,065 90,025 14,483 5,807,455 31,874, 682 nft 1 Based on time bills only o 3 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 42.—BILLS DISCOUNTED: MONTHLY VOLUME, BY MATURITIES AND BY RATES OF DISCOUNT CHARGED [Amounts in thousands of dollars] Total Maturity Rates charged Month Am ount ( m i A n a v d t e u a ra r y i g t s e y )1 a D n d e d r m a s f a i t g n s h d t Wi d th ay in s 15 16 d a to y s 30 31 d a to y s 60 61 d a to y s 90 9 6 1 m d o a n y t s h t s o O w m ve i o t r h n 6 i t n h b s 9 ut 3Hpe t r 4 per cent 1926 January 2,806,899 7.90 2,072 2,666,518 31,049 52,524 49,216 4,858 662 492,432 2,314,467 February 3,081,456 7.12 1,213 2,969,012 20,326 36,593 48,619 3,901 1,792 3,081,456 n March 3, 217,081 9.10 724 3,025,070 39,769 73,630 66,393 6,957 4,538 3,217,081 April 2,873,342 8.34 427 2,730,104 27,132 49,103 53,815 10,175 2,586 497,164 2,376,178 May 2, 730, 344 8.23 293 2,593, 728 26,920 49,933 44, 425 13, 798 1,247 1,377,694 1,352,650 June 2, 274,908 9.66 363 2,134,123 24,447 48 828 52,997 13, 750 400 903, 683 1,371,225 J A u u l g y u . st 3 3 , , 2 11 8 1 5 , , 3 1 0 8 2 3 7 7 . . 7 3 2 8 3 5 5 7 4 5 2 3 , , 9 13 7 6 8 , , 3 2 0 8 9 0 2 2 6 3 , , 2 1 9 8 6 2 4 52 7 , , 4 7 6 3 4 6 6 5 5 2 , , 1 3 0 2 8 1 8 4 , , 6 3 2 8 9 8 7 1 0 3 8 5 1, 7 8 2 1 5 0 , , 6 7 8 9 5 7 2 1 , , 4 3 7 8 4 5 , , 5 4 0 9 5 8 3 September 3, 751, 745 7.12 999 3,595,864 32,956 51,230 3,588 139 3, 751,745 October 3, 429,897 8.55 1,954 3,265,937 38, 670 57,955 59, 508 5,539 334 3, 429,897 November __. 3, 057,952 8.51 2,419 2,913,042 33,425 50,266 50,244 7,956 600 3,057,952 December 4,062,028 7.56 1,283 3,893,344 38,099 57,024 64,450 6,486 1,342 4,062,028 g Total: 1926 37, 682,137 8.04 12,676 35,901,331 362,271 627,286 674,065 90,025 14,483 5,807,455 31, 874,682 1925 32, 562,620 7.99 23,850 31,089, 549 271,803 521, 854 561,974 81,963 11,627 1924 15,419,155 12.39 46, 621 13,848,056 265, 842 511,694 607,781 122, 558 16,603 1923 38, 379,926 9.89 67,457 35,672,207 491,001 908,454 1,053,044 182,314 5,449 1922 22, 082, 887 12.14 19,931,136 377, 738 714, 398 829, 626 229,989 1921 57, 759,128 13.63 51,248,594 1,062, 513 2,025, 513 3,049,336 373,172 1920 85, 320, 874 13.29 75,914,215 1, 327,285 2, 774,388 4,953,099 351,887 1919 79,173,970 10.13 76,131,886 387, 563 791,316 1, 737,920 125,285 1918 39, 752,934 11.81 36,906,711 383,901 754,479 1, 551, 597 156, 246 1917 8,968,991 8,129,286 181,029 272,499 357,046 29,131 bod 1916 207, 871 115,^053 34,423 41, 577 16,818 > 1915 161,353 26,509 57,838 57,322 19,684 1914. 21, 411 12,381 5,180 3,206 644 i Based on time bills only. ' Figures not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 43.—BILLS DISCOUNTED: AVERAGE MATURITY, BY MONTHS [Days] Federal reserve bank January February March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- Year 1926 MEMBER BANK COLLATERAL NOTES 1926 Boston 7.65 6.38 6.78 8.63 7.48 6.78 5.68 5.63 4.87 4.66 5.81 5.66 5.96 New York... 3.58 3.66 4.89 3.57 4.10, 4.85 3.88 3.57 3.85 6.06 5.31 4.21 4.18 Philadelphia . _ 7.32 7.19 7.20 9.36 9.85 9.58 9.10 8.61 7.20 7.05 7.42 6.17 7.74 Cleveland 6.54 8.04 5.94 6.80 4.49 4.80 4.59 5.70 4.81 4.24 3.82 3.62 4.82 Richmond... 3.48 2.93 2.51 2.63 2.87 2.55 2.68 2.76 2.51 2.69 3.43 3.43 2.80 Atlanta _ 8.94 8.76 11.36 11.38 10.33 11.71 12.53 12.29 12.62 12.53 12.49 11.33 11.37 Chicago 11.73 12.24 10.76 10.25 12.22 11.60 12.31 11.93 11.06 11.54 10.74 10.41 11.26 St. Louis 8.59 8.71 8.19 8.13 9.09 11.03 9.04 7.77 5.47 6.01 6.59 6.91 7.45 Minneapolis 11.19 11.60 11.80 11.26 11.04 13.01 12.35 10.81 7.21 12.47 7.71 7.66 10.43 Kansas City 4.79 3.06 3.66 10.40 9.06 9.75 5.04 4.25 3.60 9.50 6.95 5.36 5.20 Dallas.._ 8.78 13.41 11.70 14.56 14.45 13.19 14.41 12.94 11.60 11.65 13.41 12.27 12.51 San Francisco._ 9.56 7.43 7.20 8.15 6.35 7.32 7.15 6.67 6.07 6.41 7.06 8.54 7.15 All banks.. 5.38 5.08 5.91 5.40 5.33 6.09 5.13 5.15 4.95 6.12 6.09 5.39 5.48 REDISCOUNTED BILLS 1926 Boston 47.34 42.86 48.80 49.04 47.44 48.85 74.69 44.97 52.00 65.24 47.42 40.03 50.23 New York 55.05 45.77 55.16 55.76 50.74 52.83 69.13 57.07 64.68 55.57 46.52 52.45 56.36 Philadelphia 51.84 49.89 56.09 50.92 54.00 53.46 53.01 45.37 54.91 50.86 49.04 53.56 52.11 Cleveland 47.60 54.27 50.88 51.69 56.54 56.11 50.16 47.97 51.34 54.04 45.66 46.37 50.39 Richmond 53.72 61.73 62.39 58.54 59.19 55.38 55.80 51.74 50.00 47.81 50.36 49.16 54.95 Atlanta 48.23 54.61 69.64 68.08 55.60 57.02 53.82 53.72 52.20 57.10 55.59 54.65 56.31 Chicago 49.88 59.36 47.36 52.21 49.15 56.20 53.55 49.87 56.83 51.81 54.62 49.22 51.96 St. Louis.. 45.35 50.21 45.18 52.28 45.44 50.53 50.48 50.79 37.61 32.33 39.09 43.26 44.66 Minneapolis 107.80 89.49 74.44 85.11 94.34 107. 52 84.11 65.52 79.33 98.65 116.61 110.19 90.19 Kansas City 80.57 89.75 73.93 74.07 91.48 88.81 76.17 62.53 53.64 67.55 78.51 99.43 77.20 Dallas __ __ __ 50. 65 91.39 87.90 81.02 72. 79 81 92 65.18 55.30 55.86 50.84 52.53 57.62 63.36 San Francisco. 54.93 55.62 58.80 80.06 69.32 77.28 83.41 75.64 62.46 78.45 63.93 102.34 70.77 All banks 51.03 55.81 53.91 59.35 56.45 59.12 57.79 53.05 52.60 50.84 52.40 51.57 54.28 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 44.—BILLS DISCOUNTED, SECURED BY UNITED STATES GOVERNMENT OBLIGATIONS: VOLUME, BY MONTHS cp [In thousands of dollars] Year Federal reserve bank M ba em nk b 's er Redis- January February March April May June July August Sep b t e em r - October No b v e e r m- De b c e e r m- Total collateral counted notes paper 1926 Boston 1,315,302 1,314,436 65,915 51, 505 76,187 40, 802 61.920 74, 782 117, 820 132, 858 165, 902 186,977 143,076 197, 558 New York 14,829,7"06 14,829, 699 7 1,450, 7961,643,793 1,100,962 1, 316,8881,218,044 774, 5971, 522, 8381.465,213 1, 549, 594 859,236 696,156 1,231,589 Philadelphia... 1,725,231 1, 725,135 96 129,904 •149,302 177,740 108,846 101, 764 108, 305 107, 679 121,337 150.206 159,817 147, f'" 263,305 Cleveland 3,052, 5493, 050,775 1,774 167,030 84,480 226,274 183, 583 261, 722 221,671 207,804 126,074 214,063 358,956 404, 999 595,893 Richmond 1,466, 5381,465,026 1,512 98,915 117, 553 205, 730 163.879 171,001 162, 794 88,231 111,046 103, 061 123,285 63,491 57, 552 Atlanta 231,661 229, 650 2,011 26, 659 21, 739 40,000 30, 756 9,948 13,317 10,774 12,265 18, 856 20, 546 14, 774 12.027 Chicago 2,273,777 2, 272,918 859 197,666 158,885 209,118 149, 591 99,917 150,042 140,008 160, 582 189.207 240,011 274,537 304,213 St. Louis 938,421 935,790 2,631 48, 7691 50,879 63,419 63,997 55, 625 47, 877 45, 958 66,195 129,321 128,667 103,906 133,808 Minneapolis... 138,559 138, 559 10,124 6,195 7,683 5,222 8,135 12, 693 18,097 17,792 19, 631 20,180 5,909 Kansas City... 526, 561" 526,245 322 44,861 111.378 94,492 22,241 22, 593 16, 988 40,361 36,036 53,113 14,017 32, 649 37,838 4 Dallas 96,052 92,699 3,353 9,250 2,911 5,999 4,050 5,486 6,402 9,295 8,697 10,985 10,759 13,140 9,078 San Francisco; 1, 597,4861,597, 363 123 74,064 67, 787 132.434 126,602 142,232 99,417 140,367 175,110 205,876 174,030 149, 829 109,738 U Total: 1926.. 28,191,849 28,178,295 13, 5542, 320, 7272,470,336 2, 338, 5502,218,918 2,155,474 1,684,327 2,443, 8282,433,510 2, 807, 9762,295,932 2,063,763 2,958,508 1925.. 24,711,208 24,702, 277 8,931 1,135,513 1,814,452 2,332,156 1,771,013 1,427, 7541,840,176 2,190,068 2, 549, 5452, 720,8452,366,703 1,807,994 2,754,989 1924.. 11,767,222 11,753,153 14,069 1, 850,7822,086,018 1, 304,0911, 406,7261,063, 721 467, 948 554,508 293,929 536,619 651,030 475,253 1, 076, 597 1923.. 29, 778,014 29,732,151 45,863 3,154,444 3,132,070 2,836,721 2, 650,3072, 857, 2572,323, 6682, 651, 4362, 336,0001, 879,4692,006.708 1,930, 5192, 019,415 1922.. 15,464, 642 15,379,463 85,179 1, 678,5371,284,698 1, 032,402 883, 804 736, 259 797,893 932,038 729,487 804,932 1,499,040 2,411,323 2. 674,229 1921.. 31,925,457 301,,870,988 1,054,469 4,141,487 3,856,232 3, 549,8623, 265,9582, 708,6192,058,159 2,184, 2752,070,133 1, 610, 6961,871, 5881, 930,6492,677,799 CO 1920.. 57,440,018 55»,, 410, 8762,029,142 5,456, 3445. 544,2805,298,;' 4, 771,0724, 508,4664, 544,8364, 533, 5064, 933, 9834,164,062 4, 305,2694, 349.7235.029,593 1919._ 74,187,280 72!,, 289, 8315, 897,4455, 713,9034, 755, 6295,271,540 5, 693, 8117,169, 3676,036,278 6, 824, 9886,170, 7826,238, 3017, 348,9426, 761, 5426, 202,197 1918.. 33,390,080 32t,, 142,4061,247, 674 378, 507 400,037 315,116 1, 806.6692, 523, 5062, 621,1322, 469, 3853,127, 3334,077,897 5,308,281 4, 601,2485,760,969 1917.. 5, 884,1615, 884,161 5,184 354,016 192, 916 30,478 215,651 2,262, 4752, 586,064 237, 377 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 45.—AVERAGE RATES CHARGED BY MEMBER BANKS ON CUSTOMERS' PAPER REDISCOUNTED WITH FEDERAL RESERVE BANKS Member banks in Federal reserve district of— All districts Boston Y N o e r w k Ph p il h a i d a el- C la le n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas San c is F c r o an- BANKS IN SMALL CITIES AND TOWNS (POPULATION UNDER 15,000) CO a Average rate charged on paper rediscounted in— December, 1921 6.1 6.0 6.3 6.9 7.9 7.5 8.0 8.7 8.9 9.7 8.2 December, 1922-_____ _....... 5.7 5.9 6.2 6.7 7.9 7.5 7.8 9.0 8.8 9.8 8.0 March, 1923 6.0 5.9 6.0 6.4 8.0 7.3 7.6 9.0 9.0 9.7 8.1 June, 192$ 6.0 6.0 6.2 6.4 7.8 7.3 8.0 9.0 8.7 9.6 8.2 September, 1923 6.0 5.9 6.1 6.3 7.8 7.3 7.9 8.6 8.6 9.4 8.1 December, 1923. _ _. 5.9 6.0 6.1 6.3 7.7 7.4 7.7 8.9 8.6 9.7 8.0 March, 1924__. 6.0 5.9 6.1 6.5 7.7 7.4 7.8 8.8 8.7 9.4 7.9 3 June, 1924 ..... 6.0 6.0 6.2 6.4 7.8 7.3 8.0 8.8 8.9 9.6 7.9 September, 1924 5.9 5.9 6.3 6.3 7.6 7.3 7.9 8.7 9.0 9.4 8.2 December, 1924 5.6 5.9 6.2 6.3 7.7 7.4 7.4 8.6 8.6 9.8 8.0 March, 1925 5.9 6.0 6.2 6.4 7.7 7.3 7.6 8.8 8.9 9.5 8.0 June, 1925 5.8 6.0 6.2 6.3 7.7 7.2 8.0 8.6 9.0 9.4 8.0 September, 1925 6.0 5.8 6.4 6.2 7.4 7.3 7.7 8.3 8.6 9.3 7.1 December, 1925 _ 6.0 6.0 6.3 6.3 7.5 7.3 7.7 8.2 8.3 8.3 7.6 March, 1926 6.0 6.0 6.1 6.4 7.8 7.3 8.0 8.6 8.5 9.6 7.8 June, 1926 5.9 5.9 6.2 6.2 7.8 7.1 7.8 8.7 8.7 9.3 7.8 September, 1926 5.8 6.0 6.2 6.1 7.7 7.1 7.9 7.8 8.6 8.6 7.8 December, 1926 5.8 6.0 6.0 6.4 7.7 7.1 7.9 8.2 8.1 9.1 7.6 o Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 45.—AVERAGE RATES CHARGED BY MEMBER BANKS ON CUSTOMERS' PAPER REDISCOUNTED WITH FEDERAL RESERVE BANKS— 00 Continued Member banks in Federal reserve district of— All districts Boston Y N o ew rk Ph p il h a i d a el- C la le n v d e- m R o ic n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas San c is F c r o an- i BANKS IN MEDIUM-SIZE CITIES (POPULATION OF 15,000 TO 99,999) g Average rate charged on paper rediscounted in— 3 December, 1921 7.2 6.1 6.0 6.0 6.4 6.8 7.5 7.1 7.6 7.3 8.3 7.3 December, 1922 6.4 5.5 6.0 6.0 6.1 6.2 7.0 6.3 6.6 7.4 6.4 8.6 7.2 March, 1923 6.4 5.5 5.8 6.0 6.2 6.1 7.2 6.2 5.8 6.8 6.5 8.2 7.5 June, 1923 6.4 5.4 6.0 6.0 6.1 6.1 7.1 5.9 5.6 7.0 6.8 8.1 7.6 September, 1923 6.4 5.6 5.9 5.9 6.2 6.2 7.0 6.0 6.1 6.8 8.1 7.1 December, 1923 __. _ 6.3 5.6 5.9 6.0 6.1 6.1 6.8 6.2 6.5 7.1 6.9 8.3 6.2 March, 1924 _ 6.4 5.6 6.0 6.0 6.1 6.3 7.1 6.3 6.4 7.0 8.4 June, 1924 6.3 5.7 5.8 6.0 6.0 6.1 6.9 6.2 6.4 7.3 7.0 7.5 7.3 September, 1924 _ 6.4 5.8 5.6 6.0 6.1 6.1 7.1 6.5 6.4 7.2 7.1 7.3 7.6 December, 1924 6.2 5.1 5.7 6.0 6.1 6.1 6.6 6.2 7.1 March, 1925 _ __. 6.1 5.4 5.7 6.0 6.0 6.1 6.9 6.0 7.1 8.0 8.0 June, 1925 _ 6.1 5.0 5.6 6.0 6.1 6.1 6.6 5.9 7.1 8.0 7.8 7.3 September, 1925 _._ 6.0 5.0 5.8 6.0 5.9 6.2 6.1 6.1 6.4 7.6 7.8 7.1 December, 1925 6.0 5.2 5.8 6.0 6.1 6.2 5.8 6.0 March, 1926.-- 6.1 5.3 5.7 6.0 6.0 6.2 6.4 5.9 6.4 6.3 7.7 6.4 June, 1926... 6.2 5.6 5.9 6.0 6.1 6.0 7.0 6.0 6.4 7.0 6.7 6.0 September, 1926 6.2 5.5 5.6 » 5.9 6.1 6.0 6.1 6.5 6.7 5.8 6.5 5.4 December, 1926 6.0 5.7 5.8 6.0 6.1 6.1 6.6 6.0 6.5 5.5 5.0 g > Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKS IN LARGE CITIES (POPULATION OF 100,000 AND OVER) Average rate charged on paper rediscounted in— December, 1921 6.1 6.1 6.0 6.0 6.3 6.1 7.1 6.4 6.4 6.8 7.2 7.6 6.1 December, 1922 _ 5.1 4.8 4.9 5.0 5.6 5.9 5.8 5.0 5.3 5.7 6.3 6.3 5.2 March, 1923 5.1 4.9 5.0 5.2 5.4 5.7 5.6 5.1 5.2 5.6 6.3 6.5 5.3 June, 1923..- - 5.3 5.0 5.3 5.2 5,6 5.8 5.7 5.3 5.2 5.9 6.6 6.6 5.7 I September, 1923 _._ 5.4 5.2 5.3 5.5 5.6 5.9 5.9 5.5 5.4 5.7 6.3 6.4 5.6 December, 1923 5.4 5.3 5.4 5.5 5.7 6.0 5.8 5.6 5.6 5.7 6.3 6.4 5.7 J M u a n r e c , h 1 , 9 2 19 4 2 4__ _ ..._ 5 5. . 6 5 5 5 . . 3 2 5 5 . . 7 2 5 5 . . 4 4 5 5 . . 6 4 5 6 . . 9 0 5 5. . 8 8 5 5 . . 5 5 5 5 . . 6 3 5 6. . 0 9 6 6. . 7 5 6 6 . . 5 5 5 5 . . 6 7 O O September, 1924 _ 5.6 4.9 5.6 5.7 6.0 6.0 6.0 5.3 5.4 5.5 5.9 December, 1924 _ 4.9 5.3 5.3 5.7 6.0 5.7 4.9 4.9 6.0 6.2 6.6 March, 1925._ __ 5.1 4.8 5.5 5.4 5.2 6.0 5.7 4.9 4.3 6.0 5.7 5.8 June, 1925 _ 5.2 4.9 5.2 5.6 5.5 6.0 6.2 4.5 5.0 6.0 6.0 5.5 6.1 September, 1925 .._ 5.1 4.9 4.5 5.3 5.4 5.9 6 3 4.7 5.0 5.6 5 6 6.4 December, 1925 _ .5.1 4.9 5.3 6.0 5.5 5.9 5.6 4.7 5.0 5.5 5.9 5.5 5.5 March, 1926.-_ 5.1 5.6 5.9 5.4 5.6 6.0 5.8 4.7 4.8 5.6 6.4 5.9 5.6 June, 1926.__ _•___ 5.3 5.1 5.9 5.5 5.3 6.0 6.0 4.9 4.9 5.6 6.9 6.2 5.5 September, 1926 _ 5.2 5.6 4.8 5.2 5.3 6.0 5.9 4.9 5.0 5.4 6.4 5.5 5.6 December, 1926 __ 5.2 5.2 5.8 5.5 5.6 6.0 5.9 4.9 4.9 5.5 7.2 6.0 6.2 w 1 OS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 4=6.—TRADE ACCEPTANCES DISCOUNTED: VOLUME, BY MONTHS o [In thousands of dollars] o Prior years Federal reserve bank January February March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- Y 19 e 2 a 6 r 1925 1924 I 1926 Boston 41 34 113 40 64 87 36 25 30 89 16 96 671 1,399 918 New York- 146 77 198 164 72 99 108 112 257 156 62 357 1,808 2,360 4,484 Philadelphia 146 48 94 195 55 92 186 43 65 54 122 118 1,218 963 671 I Cleveland 510 262 556 560 356 284 237 111 229 424 335 859 4,723 7,825 8,409 Richmond 109 114 290 191 96 101 225 197 46 155 194 165 1,883 3,746 9,039 Atlanta __ 158 115 215 249 143 324 312 455 213 450 335 428 3,397 2,550 4,935 Chicago 85 90 69 107 103 66 82 50 54 239 58 111 1,114 1,724 1,240 St. Louis . . 82 18 301 151 27 448 256 364 555 1,055 309 234 3,800 2,560 4,872 Minneapolis.. 14 14 13 18 Kansas City _ 263 Dallas 25 12 25 75 80 89 7 30 343 53 660 San Francisco 130 44 179 151 98 197 235 132 56 42 16 65 1,345 495 2,816 g Total: 1926 1,432 802 2,027 1,847 1,089 1,778 1,766 1,496 1,535 2,664 1,447 2,433 20,316 1925 1 841 1 581 2 312 2 569 1 782 1 728 1 065 1 657 1 554 2 900 1 643 3 056 23 688 1924 4* 103 4 132 4 366 5 003 3 735 3'510 3 016 1 723 1 907 2 316 2 054 2,460 38,325 1923 - 4,330 3,200 • 3,085 3,303 3,439 4,387 3,969 3, 639 5,232 5,515 5,317 5.977 51,393 1922 5,773 3,854 4,348 3,447 3,556 3,247 2,891 2,402 2.977 3,120 4,524 4,133 44,272 1921 20,171 13,263 11,868 10, 864 9,694 10,013 8,673 8,824 7,983 9,682 7,851 10,058 128,944 1920 16,520 11,001 23,383 15.296 16,541 13,938 13,457 14,011 17,160 19,389 15,143 16,318 192,157 1919 10,904 8,880 8,561 8,071 7,062 7,946 8,505 6,428 10,608 16,064 21,924 23,467 138.420 % 1918 13,998 19,217 16,231 11,121 13,166 14,811 13,822 12,762 20,917 23,520 16,191 11,617 187,373 1917 574 856 763 678 1,768 2,521 1,077 1,668 1,126 4,355 6,960 15,425 37,771 1916 - 444 246 299 240 298 276 199 245 594 415 853 1.103 5,212 1915 320 629 496 514 1,959 w 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 47.—BILLS BOUGHT IN OPEN MARKET: VOLUME, BY MONTHS [In thousands of dollars] Total reduced to a common maturity Feder b a a l n r k eserve January Fe a b ry ru- March April May June July August Sep b t e e r m- October No b v e e r m- De b c e e r m- Total basis i Amount P o e f r t o c t e a n l t too o d 1926 Boston... 39,662 33,104 34,413 44, 246 45, 345 56,055 53,146 42, 811 37,132 53, 217 37,981 61,890 539,002 639,334 19.1 3 New York 57, 714 124,932 108,099 101,197 191,061 131,763 90,487 62, 473 90, 322 88, 327 171,417 219, 773 1, 437, 565 772, 794 23.0 Philadelphia _ 5,420 7,169 17,994 9,738 10,944 12, 832 10, 470 10,921 12, 820 10, 572 12,999 15,600 137,479 229,981 6.9 Cleveland.. 10,940 10, 435 11,138 12,980 16,603 13, 715 10, 368 14, 687 11, 520 12,946 12, 862 15, 377 153, 571 240,994 7.2 3 Richmond 5,823 5,550 5,757 6,515 7,574 7,600 5,516 7,515 5,659 7,909 6,805 8,951 81,174 106, 947 3.2 Atlanta 8,899 5,484 4,324 6,522 10, 717 11, 835 6,584 7,945 9,998 9,666 9,192 8,035 99, 201 147, 778 4.4 u C St h . i L ca o g u o is 1 1 9 1, , 2 77 8 8 8 21 4 , , 6 3 6 4 7 4 1 5 9 , , 5 1 5 1 7 5 25 5 , , 5 3 6 6 1 7 2 7 9 , , 6 0 5 8 4 0 2 4 6, , 6 9 9 3 6 4 24 3 , , 7 2 9 7 6 9 27 5 , , 1 5 0 0 6 5 2 2 2 , , 0 1 2 0 0 5 3 5 0 , , 4 2 5 2 8 6 24 5 , , 6 5 7 3 2 1 3 4 1 , , 3 9 4 8 3 5 30 6 1 6 , , 7 3 5 0 9 8 5 9 12 0 , , 4 5 2 2 4 5 1 2 5 . . 7 3 o Minneapolis _. 4, 630 4,357 4,405 6,550 6,123 6,264 4,291 6,804 3,912 4,845 4, 706 6,170 63, 057 93, 257 2.8 Kansas City 7,915 5,695 6,091 7,252 9,081 8,384 5,612 7,239 5, 512 7,079 6,587 8,141 84, 588 121, 650 3.6 Dallas 6,807 4,346 4,395 5,419 5,814 6,424 4,751 6,394 5,604 7,394 6,289 8, 566 72, 203 122,043 3.6 > San Francisco 20, 326 18, 400 21, 398 29,167 24, 488 31, 866 24,987 26, 840 27, 651 25, 647 30, 523 36,126 317, 419 275, 599 8.2 n Total: 1926-.- 199, 202 245, 483 242, 686 260, 514 364,484 318, 368 244, 287 226, 240 234, 255 263, 286 329, 564 424, 957 3, 353, 326 3, 353, 326 100.0 1925... 182, 897 246,475 259, 331 219, 287 296, 237 245,995 201, 663 188, 214 214, 570 326, 219 244,944 335, 338 2, 961,170 1924 231,941 289,138 197, 714 148, 458 83,492 52, 017 60,136 57, 354 113, 773 275, 469 301, 671 360, 979 2,172,142 1923._. 152, 754 186, 464 254,141 194, 851 186, 363 183, 733 186, 828 160, 373 159, 420 215, 351 327, 596 339,136 2, 547, 010 so 1922 103,910 139, 022 144, 352 95, 724 150,607 175,493 158, 758 185, 208 217, 053 206, 617 175, 378 202, 566 1, 954, 688 1921... 121, 868 169,456 149, 255 123, 511 138,601 64, 673 46, 670 107, 303 81, 883 139, 081 161, 999 230,101 1,534,401 i920... 302, 452 300, 307 303, 359 247, 594 274, 237 285, 753 219, 464 259, 708 257, 989 281, 833 231, 840 253, 828 3, 218, 364 1919... 201,492 147, 410 143, 662 140,639 147,650 291,915 276, 485 194, 211 205,048 335, 262 340, 695 400, 708 2, 825,177 1918. 130, 620 148, 275 138,996 108, 516 115,914 89, 580 123, 574 162, 796 183,132 256, 705 195, 698 155, 733 1, 809, 539 1917.. 20, 617 70, 641 28,153 41, 313 82, 544 135, 230 66, 864 72,123 109, 046 86, 894 186, 219 178, 069 2 1, 077, 713 DO 1916... 9,603 12, 416 22, 918 18,499 21,912 42, 325 36, 575 28, 447 37, 087 40, 895 48, 547 66, 871 386, 095 1915 2,666 8,356 4,018 2,865 4,701 5,986 4,656 4,548 6,340 7,919 12, 790 64, 845 1914.. i Total purchases by each bank, multiplied by ratio of average maturity thereof, to average maturity (34.42 days) for system. ? Jnpludes $170,072,483 of acceptances purchased from the Federal reserve banks of Boston and New York by other Federal reserve banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No, 48.—BILLS BOUGHT IN OPEN MARKET: VOLUME, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances bought outright i Bills Total Trade payable Federal reserve bank (all Based on accept- Bought in classes) goods ances with foreign Total Import Export Domestic s s h i t i n o p r p o e r e d d ex D c o h l a l n a g r e All other o ( b i u m o tr u p i g g o h h rt t t ) agr r e e e sa m le ent currencies between foreign countries 1926 Boston - - 539,002 318,837 120,183 65,357 63,445 65,546 3,124 1,182 220,165 New York _ 1,437,565 253,980 60,151 68,209 45,993 66,523 7,830 5,274 5,292 1,177,168 1,125 Philadelphia 137,479 137,479 53,413 38, 940 24,386 17,464 3,151 125 Cleveland . _ . 153, 571 147,352 55,481 38, 923 25,466 23, 466 3,403 613 299 236 5,684 i Richmond 81,174 81,174 29,5£5 21,720 17,445 10,702 1,342 410 Atlanta 99,201 99,201 31, 656 28,013 21, 759 9,964 1,410 6,399 Chicago . _ -. 301, 759 221,616 82,745 61,692 43, 273 26,128 5,788 1,990 80,143 St Louis 66,308 66,308 23, 812 17,700 9,443 12,175 2,414 764 Minneapolis . - 63,057 63,057 24,445 17, 590 8,805 10,785 1,136 296 Kansas City. - . _ . . . 84,588 84, 588 38,014 22, 354 8,410 13,887 1,444 479 Dallas 72, 203 70,160 27. 886 20. 081 10,013 10,625 1,097 458 2,043 San Francisco 317,419 150,109 57,191 39,998 28,469 20,850 2,625 976 167,310 Total 3,353,326 1,693,861 604,532 440,577 306, 907 288,115 34,764 18,966 5,591 1,647,065 6,809 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 49.—BILLS BOUGHT IN OPEN MARKET: MONTHLY VOLUME, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances bought outright Trade acceptances bought outright Bills Month cl T a ( s o a s l t e l a s l ) B s a g t s o o e o r d e d d s on B r w o es u i a t g h l h e t c i p u n r a r f y e o a n r b e c i l i g e e n s § Total Import Export Domestic sh i i n p p or ed ex D c o h l a l n a g r e All other Total Import Export Domestic agreement 3 between foreign countries 1926 1 January. 199,202 126,473 47,411 35,298 27,394 10,864 2,897 2,609 527 527 71,979 223 February._ _ 245,483 107,779 39,543 27,183 26,356 10,428 1,622 2,647 546 546 136,885 273 March 242,686 104,390 43, 914 27,370 18,215 11, 774 2,580 537 166 166 137,364 766 3 April 260, 514 122,896 45,986 28,339 20,188 24,465 2,975 943 400 400 136,781 437 May 364,484 150,591 64,246 36,790 22,364 24,266 1,953 972 326 326 213,159 408 June. -. . 318,368 153,993 55,219 36,014 24,001 35,742 2,309 708 173 173 163,280 922 July._. 244,287 128,681 48,317 25,622 18,263 33,194 2,005 1,280 755 755 114,777 74 August 226,240 163,826 62,513 32,533 23,248 39,211 3,467 2,854 5 5 61,442 967 September-- 234,255 136,366 43,591 33,413 22,089 33,238 2,843 1,192 867 867 96,557 465 O October-- 263,286 171,289 60,212 55,321 30,467 20,364 3,449 1,476 153 153 91,350 494 November 329, 564 148,890 44, 655 45,679 31,923 20,798 3,481 2,354 628 628 178,946 1,100 s December 424, 957 178,687 48,925 57,015 42,399 23,771 5,183 1,394 1,045 1,045 244,545 680 Total: 1926- 3, 353,326 1,693,861 604,532 440,577 306,907 288,115 34,764 18,966 5,591 5,591 1, 647,065 6,809 2 1925-.. 2,961,170 1,683,300 631,264 527,057 335,476 154,220 25, 645 9,638 4,765 4,597 15 153 1,268, 623 4,482 c O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 50.—BILLS BOUGHT IN OPEN MARKET: VOLUME PURCHASED FROM MEMBER BANKS AND FROM NONMEMBER BANKS AND DEALERS [In thousands of dollars] From nonmember banks and From nonmember banks and dealers dealers From From Federal reserve bank Total member Federal reserve bank Total member banks Total W ag i r th e e r m es e a n l t e o A th l e l r banks Total W ag i r t e h e m re e s n al t e o A th l e l r N B Ph o e i w s l t a o d Y n e o lp rk hia 192 - 6 .- 1, 1 5 4 3 3 3 7 7 9 , , , 0 4 5 0 7 6 2 9 5 1 1 2 2 9 6 3 4 , , , 1 2 9 1 9 6 6 4 8 1, 1 3 3 1 4 1 1 4 4 , , , 3 0 2 6 3 7 3 4 1 1,1 2 7 2 7 0 , , 1 1 6 6 8 5 1 1 1 2 3 1 3 7 1 , , , 8 1 3 6 0 6 9 3 3 M D K a a i l n n l n s a a s e s a p C o i l t i y s 1926 _ 8 7 6 4 2 3 , , , 0 2 5 5 0 8 7 3 8 2 3 2 9 5 7 , , , 1 8 6 8 5 5 1 6 6 4 3 4 2 5 8 , , , 8 9 3 3 7 47 2 6 2,043 4 3 48 0 5 , , , 3 8 9 0 7 3 4 6 2 no R C i l c e h v m ela o n n d d _ 15 8 3 1 , , 1 5 7 7 4 1 3 7 1 4 , , 7 8 0 4 9 4 4 78 9 , , 4 7 6 2 5 7 236 4 7 9 8 , , 4 4 6 9 5 1 San Francisco 317,419 54, 366 263,053 167, 310 95, 743 A S C t h t . l i a c L n a o g t u a o is 30 9 6 1 9 6 , , , 3 2 7 0 0 5 8 1 9 2 5 9 7 1 4 , , ,9 8 6 8 5 8 3 4 5 2 3 4 1 8 4 0 , , , 2 1 4 1 0 2 8 5 3 80,143 12 4 3 9 8 4 , , , 4 2 9 2 1 6 3 8 2 Total: 1 19 9 2 2 5 6 2 3, , 3 9 5 6 3 1 , , 1 3 7 2 0 6 8 7 2 7 2 2 , , 1 5 4 1 0 2 2 2, , 1 5 3 8 9 0 , , 0 8 3 1 0 4 1 1 , , 2 6 6 4 8 7 , , 0 62 6 3 5 8 93 7 3 0 , , 4 7 0 4 7 9 No. 51.—BILLS BOUGHT IN OPEN MARKET: MONTHLY VOLUME, BY RATES CHARGED b [In thousands of dollars] Rates (per cent) Total January February March April May June July August September October NovemberDecember 1926 209,723 4,510 43, 098 71, 335 52, 682 38, 098 343,496 19,466 8,149 108, 111 78,390 69. 844 59, 524 12 60, 533 20, 210 9 , 4,281 8,863 7,294 19, 849 27 1, 515, 382 94, 034 184,341 186,136 198,793 208,284 • 159,027 113,117 67, 061 62,189 66, 383 74, 928 101,089 210, 628 55, 460 49,982 45,462 40,226 j 145 59 655 2, 213 4,686 3,005 2,285 6,450 955,046 5,555 8,213 9,022 7,139 ! 323 135 36, 956 157, 667 180, 440 243,161 306,430 23,096 1,763 995 957 594 I 15 1,243 2,833 3,357 5,481 5,858 33, 226 2,714 1,919 890 1,094 ! 394 274 471 1,202 6,618 9,105 3,549 4,996 2,196 33 219 166 97 74 94 223 996 160 134 Total. 3, 353, 326 199, 202* 245,483 242, 686 260, 514 364, 484 318, 368 244,287 226, 240 234, 255 263, 286 329, 564 424,957 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 52,—BILLS BOUGHT IN OPEN MAKKET: AVEEAGE MATURITY, BY MONTHS (Exclusive of bills purchased under a resale contract) [Days] Federal reserve bank January February March April May June July August September October NovemberDecember Year, 1926 1926 Boston. 74.70 58.62 54.22 33.03 41. 30 58.09 59. 28 64.14 67.73 69.32 65.33 60,36 60.49 Uol New York 42.00 34.14 31.90 22.59 36.24 15.45 33.37 38.04 35. 57 48.08 44.83 35.86 36.46 o P C h le il v a e d la e n lp d hia _ 6 62 8 . . 8 3 5 4 4 5 2 2 . . 0 9 3 8 4 5 4 2 . . 4 3 7 7 4 4 5 7 . . 0 0 4 7 3 4 9 6 . . 4 3 0 2 4 5 9 8 . . 4 9 6 8 5 5 7 6 . . 1 3 1 5 6 6 2 0 . . 5 4 8 4 7 5 2 3 . . 1 2 9 2 7 62 3 . . 6 7 3 0 6 5 1 5 . . 2 2 6 9 5 6 5 0 . .9 6 0 2 5 5 7 4 . . 5 0 8 7 0 Richmond 60.14 53.32 36.94 39.63 46.24 42.02 42.36 46.76 45.23 45.74 47.19 41.41 45.35 Atlanta. _ 46.24 47.86 49.27 39.25 40.60 53.16 63.30 53. 36 57.18 67.99 47.43 46.47 51.27 Chicago 60.00 54.28 44.57 48.11 45.12 45.10 56.37 57.19 57.70 58.53 55.42 50.26 52.62 3 St. Louis 58.81 43.63 43.98 37.94 41.26 38.84 44.65 57.05 42.08 47.63 47.87 43.43 46.99 Minneapolis _ 58.72 46.09 48. 82 - 51.82 41.44 45.92 43.43 56.23 54.20 57.65 55.17 52.07 50.95 o Kansas City 55.26 54.47 50.61 41.26 43.60 40.28 49.13 53.43 49.70 57.73 52.71 49.86 49.50 Dallas 64.51 56.39 61.94 49.26 42.86 53.39 58.70 59.96 68. 38 66.24 67.48 53.95 59.58 San Francisco ... 53.68 53.13 46.27 38.55 40.11 44.30 49.54 54.92 44.09 54.42 48.30 48.44 47.98 Total 58.18 49.39 47.58 39.33 41.86 47.11 52.48 54.76 55.54 60.25 54.16 50.15 51.17 8 El § Ul O Ox Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

106 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 53.—BILLS BOUGHT IN OPEN MARKET: VOLUME, BY MATURITIES [In thousands of dollars] Maturity Federal reserve bank Total I Within 15 16 to 30 31 to 60 61 to 90 Over 90 days days days days days 1926 Boston 539,002 244, 835 60,957 59,176 145, 369 28,665 New York 1, 437, 565 1,248, 623 74, 662 58,151 53,596 2,533 Philadelphia 137, 479 17, 917 41,959 68,147 538 Cleveland 153, 571 4,404 37, 780 46, 575 56, 333 8,479 Richmond 81,174 7,064 23, 770 27,010 21, 068 2,262 Atlanta 99,201 4,978 30,955 26,491 31,043 5,734 Chicago 301, 759 16, 423 68, 835 81, 605 111,077 23,819 St. Louis 4,279 20, 362 20, 384 18, 661 2,622 Minneapolis 63, 057 3,007 18,491 18,164 19,985 3,410 Kansas City 84, 588 6, .783 23,332 23,985 24,813 5,675 Dallas 72, 203 5,550 14,982 18, 788 9,984 San Francisco... 317,419 177,260 44,904 51,026 36, 486 7,743 Total 3,353, 326 1, 732,124 436,947 473, 314 609,477 101,464 No. 54.—BILLS BOUGHT IN OPEN MARKET: MONTHLY VOLUME, BY MATURITIES [In thousands of dollars] Maturity Month Total Within 15 16 to 30 31 to 60 61 to 90 Over 90 days days days days days 1926 January. _. 199,202 78,960 20,018 30,704 60,828 8,692 February.. 245.483 141,028 23, 512 39,027 38,052 3,864 March 242,686 140,888 21,296 45,961 29,746 4,795 April 260,514 155, 770 36,497 44,682 18,995 4,570 May... 364.484 228,277 33.150 73,675 28,017 1,365 June 318,368 179,094 49,942 29,523 54,319 5,490 July 244,287 115,968 44, 361 19,077 54,975 9,906 August _ 226,240 67,546 51, 338 28, 790 63,172 15,394 September- 234,255 102,267 40.151 25,373 54,319 12,145 October 263,286 89,832 36,242 36,576 85,486 15,150 November- 329,564 180,861 39,766 37,869 59,165 11,903 December.. 424,957 251,633 40,674 62,057 62,403 8,190 Total: 1926.. 3,353,326 1,732,124 436,947 473,314 609,477 101,464 1925.. 2,961,170 1,359,631 411,986 380,443 682,868 126,242 1924.. 2,172,142 1,109,907 323,640 244,666 430,230 63,699 1923.. 2,547,010 1,270,162 275, 703 287,344 585,860 127,941 1922. 1,954,688 939,086 207,194 270,126 429,425 108,857 1921. 1,534,401 937,607 215,338 224,037 153,945 3,474 1920. 3,218,364 1,060,151 449,424 848,890 859, 899 1919.. 2,825,177 578, 751 455, 789 807,326 982,877 434 1918., 1,809,539 161,964 276, 656 876,539 27,791 1917. 1, 077, 713 32,048 128,893 267,035 613,296 36,441 1916. 386,095 38,442 63,651 284,002 1915. 64, 845 2,980 9,057 52,808 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

107 DISCOUNT AND OPUN-MAEKET OPKHATIONS No. 55.—BILLS BOUGHT IN OPEN MARKET DURING 1926: CLASSIFIED ACCORDING TO UNDERLYING COMMODITIES [In thousands of dollars] January to April to July to October to Commodity Total March June September December ACCEPTANCES BASED ON IMPORTS Total . 604,532 130,868 165,451 154,421 153,792 Animal and animal products, except wool and hair (total) 59,738 10,844 17, 674 16,847 14,373 Egg albumen. 1,371 131 269 697 274 Egg yolk 574 96 20 180 278 2,320 383 473 652 812 Bristles 3,700 586 673 1,449 992 Hides and skins 33, 221 6,436 10,765 9,081 6,939 Leather and leather goods 1,715 503 400 535 277 Furs 11,173 1,666 3,627 2,672 3,208 Fish 505 49 43 146 267 Animal and fish oils, fats, 1,192 317 318 119 438 Casein..._ 1,209 171 353 407 278 Feathers 462 173 57 160 72 All other 2,296 333 676 749 538 Vegetable food products, oilseeds, expressed oils, and beverages (total) 216,977 40, 792 62, 754 58, 613 54,818 Coffee 119, 511 24, 702 28, 876 32, 218 33,715 Cocoa.. _ 6,176 1,304 1,457 1,558 1,857 Cocoa beans 2,070 297 332 829 612 Fruits- • Figs 1,065 72 91 902 All other and not specified. 1,547 288 237 411 611 Grains 1,653 579 402 286 Nuts- Peanuts 1,462 225 301 40 Walnuts 875 258 92 214 311 Almonds 634 301 26 40 267 Cocoanuts 1,003 157 313 319 214 All other and not specified. 1,164 66 216 584 298 Tea _ 5,446 394 254 3,023 1, 775 Sugar 69,173 10,887 $,312 17, 592 12,382 Spices- Pepper 616 184 248 65 119 All other and not specified.. 871 289 206 131 245 Tapioca 389 27 73 201 Vegetables— Beans. 740 241 118 224 157 All other and not specified. 829 179 183 250 217 Olive oil. _ 177 340 165 185 All other 165 158 324 Other vegetable products, except fibers and wood (total) 81,702 17,281 28,391 19,016 17,014 Rubber _ 53,406 11,678 21,223 10,633 9,872 Tobacco 7,376 1,252 1,450 2,930 1,744 Essential oils. 482 135 127 95 125 Varnish gums— Shellac 364 181 121 38 24 CopaL 367 54 83 93 137 Damar _ 482 114 117 158 All other and not specified. 507 131 112 178 Vegetable oils— Cocoanut 4,064 518 1,076 1,253 1,217 Wood_ 4,637 758 1,139 1,258 1,482 All other _. 1,324 396 372 480 76 Oilseeds- Castor 39 26 20 Copra. _ 5,942 1,506 1,702 1,452 1,282 Cotton 3 3 Hemp. _ 74 4 54 12 4 Flax.. 578 315 181 82 All other and not specified. 98 55 7 30 All other 1,910 523 451 336 600 Textiles (total). 179,884 45,992 39,355 41,745 52, 792 Braid- Straw _ 1,057 319 546 Digitized for FRAS H A E l e l R m o p ther and not specified. 465 1 135 1 "166 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

108 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 55.--BILLS BOUGHT IN OPEN MARKET DURING 1926: CLASSIFIED ACCORDING TO UNDERLYING COMMODITIES—Continued [In thousands of dollars] Commodity Total Jan M u a a r r c y h to A J p u ri n l e to Se J p u t l e y m t b o er O D c e t c o e b m er b e to r 1 ACCEPTANCES BASED ON IMPORTS—Continued Textiles—Continued. Cotton . ._ 8,035 4,186 1,376 672 1,801 1 672 337 346 371 618 Carpets 2,151 367 566 697 521 Hair 2,268 464 664 666 474 Hemp_ - _ _ 3,700 1,153 518 909 1,120 Hats 2,879 726 755 663 735 Kapok 2,311 611 787 597 316 Silk ,.. 118,442 ! 26, 313 21, 738 30,342 40,049 Rugs _. 3,312 ! 728 742 891 951 Wool 27,455 9,330 9,799 4,194 4,132 Burlap 996 416 368 97 115 Linen 1,035 134 220 297 384 Rope .. 196 58 53 42 43 Allother 3,909 937 1,245 840 887 Wood and paper (total).. 24,886 4,592 6,778 7,505 6,011 Logs.. 1,878 260 811 516 291 Lumber 1,501 349 347 661 144 Wood pulp —. . . 11, 905 2,218 2,368 3,996 3,323 Paper 2,908 226 1,276 566 840 Rags 3,396 899 779 979 739 Pulp wood .. 221 221 Allother.. r... 3.077 640 1,197 787 453 Nonmetallic minerals (total) 6.519 1,578 1,969 1,287 1,685 Cement . _ .. 1 361 374 575 351 61 Diamonds 480 176 148 55 101 Glass and glassware 542 93 156 183 110 Refined mineral oils 1,422 464 162 796 Pyrites 304 25 57 222 Allother 2,410 935 601 479 395 Ores, metals and manufactures, except machinery and vehicles (total) _ 12, 601 4,094 3,289 2,846 2,372 Antimony 1,893 538 680 302 373 Copper 4,149 1,803 857 881 608 Iron and steel 3,396 854 782 848 912 Tin... 1,240 338 601 57 244 All other 1,923 561 369 758 235 Machinery and vehicles (total) 1,286 643 90 396 157 Chemicals and allied products (total) 5,537 1,224 1, 578 2,042 693 Creosote oil 2,145 177 783 1,185 Potash 239 100 58 29 52 Fertilizer, except potash . 501 98 151 210 42 Menthol 605 285 136 83 101 Fireworks 459 196 120 113 30 Allother... 1,588 368 330 422 468 Miscellaneous (total) 15,402 3,828 3,573 4,124 3,877 Brushes 425 55 91 154 125 Films 787 10 250 306 221 Matches - - 661 157 138 186 180 Toys _ 157 49 32 41 35 Optical goods 36 16 3 10 7 Allother 13, 336 3,541 3,059 3,427 3,309 ACCEPTANCES BASED ON EXPORTS Total- 440, 577 89,851 101,143 91, 568 158,015 Annual and animal products, except wool and hair (total) _ 14, 524 3, 773 4,269 3,495 2,987 Leather 749 187 159 142 261 Lard and meats 12, 670 3,405 3,764 3,152 2,349 Hides and skins 664 108 117 134 305 Bristles 4 4 Furs 322 59 201 55 7 Digitized for FR A A ll S o E th R e r 115 14 28 12 61 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT AND OPEN-MAKKET OPEEATIONS 109 No. 55.—BILLS BOUGHT IN OPEN MARKET DURING 1926: CLASSIFIED ACCORD- ING TO UNDERLYING COMMODITIES—Continued [In thousands of dollars] Commodity Total Jan M u a a r r c y h to A J p u ri n l e to Se J p u t l e y m t b o er O D c e t c o e b m er b e to r ACCEPTANCES BASED ON EXPORTS—Continued Vegetable food products, oilseeds, expressed oils and beverages (total) _ 60,087 9,095 9,060 17,809 24,123 Coffee 1,209 211 517 319 162 Cottonseed cake and meal 3,600 1,314 773 284 1,220 Flour 3,514 533 625 747 1,609 Fruits- Raisins-. 2,251 60 399 881 911 All other 1,058 227 31 223 577 Grains- Wheat 27,244 3,768 3,090 9,513 10,873 Rye . — 648 4 184 177 283 Barley 1,241 132 363 546 200 Corn _ _ 439 368 33 9 29 All other and not specified 16,829 2,134 2,694 4,100 7,901 Sugar 1 144 151 155 822 16 Linseed-oil cake and meal 180 15 68 97 All other 730 178 196 120 236 Other vegetable products, except fibers and wood (total) 6,953 1,614 2,558 1,415 1,366 Tobacco 1,174 504 199 103 368 Naval stores- Rosin 2,169 208 351 773 837 Turpentine 270 21 52 179 18 All other and not specified 29 1 28 Rubber and rubber products 3,132 832 1,943 295 62 All other - 179 49 12 65 53 Textiles (total) — 235,443 54, 543 49,248 36,980 94,672 Cotton 229,267 54, 011 48, 648 32,912 93,696 Cotton manufactures 5,158 323 361 3,779 695 Silk 73 13 4 56 Wool 225 18 39 99 69 Another.- - 720 178 196 134 212 Wood and paper (total) 10,041 1,559 2,408 2,884 3,190 Lumber 8,344 1,447 1,882 2,648 2,367 Cooperage stock 334 44 24 42 224 Wood pulp 397 250 21 126 All other 966 68 252 173 473 Nonmetallic minerals (total) 7,814 1,590 1,710 3,081 1,433 Coal 1,622 69 340 524 689 Refined mineral oils 4,842 1,291 1,078 2,033 440 Crude oil 871 210 16 425 220 Allother _ _ 479 20 276 99 84 Ores, metals, and manufactures, except machinery and vehicles (total).._ _ 32, 288 5,599 10,872 8,294 7,523 CoDDer 25, 064 4,160 8,770 6,226 5,908 Gold •••" ""I"::::::: 591 107 247 92 145 Iron and steel 2,186 551 728 762 145 Zinc 1,098 225 395 231 247 All other 3,349 556 732 983 1,078 Machinery and vehicles (total) 24, 337 4,522 6,422 4,007 9, 386 Automobiles 16,153 2,961 3,920 2,498 6,774 Auto parts and accessories . 2,283 418 520 434 911 Farm implements 1, 925 770 1,117 38 Motor and motor parts 1,576 301 501 400 374 Allother- 2,400 72 364 637 1,327 Chemicals and allied products (total) 2,152 319 436 792 605 Paints and varnishes __ _ 677 154 164 185 174 Fertilizers 788 148 140 253 247 Borax 382 75 201 106 Allother-..- 305 17 57 153 78 Miscellaneous (total) 46,938 7,237 14,160 12, 811 12, 730 Oil _ 2,249 462 738 902 147 Building supplies 520 50 150 320 Films 572 117 62 25 368 Matches 250 150 100 All other 43,347 6,608 13,060 11,464 12, 215 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

110 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD No. 55.—BILLS BOUGHT IN OPEN MARKET DURING 1926: CLASSIFIED ACCORD- ING TO UNDERLYING COMMODITIES—Continued [In thousands of dollars] "anuary to April to July to October to Commodity Total March June September December ACCEPTANCES BASED ON DO- MESTIC TRANSACTIONS Total 306,907 71,965 66, 553 63, 600 104,789 i • Animal and animal products, except wool and hair (total) 18,873 2,789 5,145 5,822 5,117 Lard and meats 6,479 1,040 2,112 2,452 875 Eggs. _ 912 ! 40 129 480 263 Hides and skins 7,017 i 1,217 1,627 1,795 2,378 Bristles 442 I 11 151 267 13 Casings 500 122 231 30 117 Furs . 1,246 137 534 305 270 Fish- Herring 184 28 7 35 114 Salmon. 869 j 27 31 67 744 All other and not specified 382 | 25 189 144 24 Allother 842 142 134 247 319 Vegetable food products, oil seeds, expressed oils, and beverages (total) 64,120 11,470 10,403 18,176 24,071 Coffee. 1,623 264 688 323 348 Fruit- Raisins 5,450 489 390 1,494 3,077 Peaches _ 159 39 22 47 51 All other and not specified 2,296 210 61 1,437 588 Grains— Wheat 9,457 2,264 1,042 2,891 3,260 All other .. . 24,102 5,058 4,727 6,433 7,884 Nuts- Peanuts 625 168 302 76 79 Walnuts 368 122 48 88 110 All other and not specified.. >_ _ 359 26 73 113 147 Sugar. , _ . 10, 726 364 1,444 2,800 6,118 Flour 1,678 802 106 322 448 Tea . 1,385 280 730 250 125 Vegetables— Beans _ . 591 177 102 103 209 All other and not specified __ 2,963 669 439 774 1,081 Cocoa 1,017 101 75 745 96 Allother 1,321 437 154 280 450 Other vegetable products, except fibers and wood (total) _. 28, 653 11,140 5,177 5,089 7,247 Rubber 2,597 109 145 300 2,043 Tobacco 22, 802 10,514 4,648 4,176 3,464 Naval stores 789 308 246 235 Vegetable oils- Cottonseed oil 350 18 5 327 Chinese wood oil 170 48 108 14 All other and not specified 611 43 111 118 339 Allother 1,334 118 147 230 839 Textiles (total). 140, 333 33,300 31, 418 21,141 54, 474 Cotton.. 111,240 28,175 23,053 11,661 48,351 Cotton manufactures 449 21 68 98 262 Mohair 817 728 17 72 Silk i 3,797 740 1,532 753 772 Wool | 19,766 3,590 5,001 7,074 4,101 Kapok 1 420 177 243 Allother j 3,844 774 859 1,295 916 Wood and paper (total) | 5,401 1,050 1,589 1,525 1,237 Lumber .-_I 5,168 977 1,549 1,486 1,156 Rags i 128 67 28 15 18 Allother ! 105 6 12 24 63 Nonmetallic minerals (total) 14, 105 3,782 3,226 4,351 2,746 Coal j 2,873 480 667 726 1,000 Glass . i 379 46 145 136 52 Crude oil . . > ._ 5,095 1,706 762 2,334 293 Refined oil - _ 4,659 1,453 1,154 1,099 953 Allother- 1,099 97 498 56 448 Digitized for FRASER , r .. • http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT AND OPEN-MABKET OPERATIONS 111 No. 55.—BILLS BOUGHT IN OPEN MARKET DURING 1926: CLASSIFIED ACCORDING TO UNDERLYING COMMODITIES—Continued [In thousands of dollars] January to April to July to October to Commodity Total March June September December ACCEPTANCES BASED ON DO- MESTIC TRANSACTIONS—Con. Ores, metals, and manufactures, except machinery and vehicles (total) 5,512 1,362 1,654 1,707 789 Copper _ 646 262 192 163 29 3 500 834 979 1,141 546 All other 1,366 266 483 403 214 Machinery and vehicles (total) 573 132 141 167 133 Chemicals and allied products (total) 1,964 870 257 294 543 Fertilizer 1,804 825 207 248 524 Allother.. 160 45 50 46 19 Miscellaneous (total) 27,373 6,070 7,543 5,328 8,432 Canned goods.., _ 6,353 844 1,372 1,922 2,215 Oil 2,926 216 1,382 585 743 Provisions _ 3,307 385 1,360 1,075 487 All other _ 14,787 4,625 3,429 1,746 4,987 GOODS STORED IN OR SHIPPED BETWEEN FOREIGN COUNTRIES Total 288,115 33,066 84,473 105,643 64,933 Lard and meats _ 6,813 928 1,854 1,885 2,146 Hides and skins 1,309 405 254 267 383 Leather and leather goods 3,261 1,097 1,048 495 621 Coffee . . 15, 235 3,641 7,194 2,400 2,000 Flour 8,628 2,178 1,893 2,146 2,411 Grain. 15,035 3,150 3,457 2,153 6,275 Sugar 128,233 2,115 35,203 68,168 22,747 Vegetable oils 1,590 396 828 366 Tobacco 19,422 1,547 3,727 7,195 6,953 Cotton 19, 750 4,577 5,630 4,393 5,150 Wool .._ 1,210 132 592 232 254 Lumber 3,348 765 1,819 689 75 Pulpwood 150 100 50 Timber 5,043 8 3,205 1,830 Wood pulp . 2,065 22 179 1,280 584 Gasoline 250 - / 250 Copper 8,969 1,520 2,206 2,865 2,378 Iron ore__ 1,325 817 120 48 340 Iron and steel products 5,819 1,507 2,101 517 1,694 Potash 550 550 Machinery and vehicles 2,741 620 522 468 1,131 Matches 4,233 201 1,575 1,582 875 Films 2,712 1,331 924 457 All other and unclassified 30,424 6,505 10,024 7,475 6,420 TRADE ACCEPTANCES Total 5,591 1,239 899 1,627 1,826 Coffee . * 1,262 319 275 177 491 Sugar 348 230 118 TTp.mp 1,053 276 407 106 264 Silk, . . . 559 301 34 21 203 Copper 331 331 All other and unclassified 2,038 113 183 874 868 DOLLAR EXCHANGE BILLS Total . .. 34, 764 7,099 7,237 8,315 12,113 STERLING BILLS Total 6,809 1,262 1,767 1,506 2,274 UNCLASSIFIED Total 18,966 5,793 2,623 5,326 5,224 Total purchased outright 1,706, 261 341,143 430,146 432,006 502,966 Taken under repurchase agreement 1,647,065 346,228 513,220 272,776 514,841 Grand total _ _ 3,353,326 687,371 943,366 704,782 1,017,807 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 56.—UNITED STATES SECURITIES: TOTAL VOLUME PURCHASED IN OPEN MARKET1 [Exclusive of special temporary certificates issued to Federal reserve banks by the Secretary of the Treasury] [In thousands of dollars] Prior years Federal reserve bank January Fe a b ry ru- March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- Y 1 e 9 a 26 r 1925 1924 1926 Boston 932 1,734 2,948 5,584 511 3,383 1,153 250 3,917 495 1,961 6,370 29, 238 56, 949 84, 410 New York 21, 458 54, 860 20,891 19,472 46,485 34,236 13,050 35,232 12,904 51, 659 98,323 410, 458 598, 433 426,131 Philadelphia... 3,502 4,780 119 6,899 " 465 2,026 222 892 2,983 21, 888 25, 264 40,079 Cleveland 76 1,075 7,792 7,310 441 7,534 2,251 10, 526 1,594 3,743 11, 552 54, 094 29, 370 101, 603 Richmond.. 2,906 3,651 141 2,245 550 2,336 262 1,054 3,527 16, 672 5, 529 6,327 o Atlanta 2,549 731 10, 048 4,752 1,736 2,412 3,473 765 836 1,295 400 475 29, 472 20, 625 19, 627 Chicago 15, 839 7,455 39, 952 18, 734 11, 588 24,346 11, 594 6,260 18, 420 15,099 14,916 25, 661 209, 864 145, 395 194, 723 St. Louis.. _ 1,516 1,044 13,028 625 3,331 4,547 1,313 677 5,511 709 2,759 8,870 43, 930 15, 549 22, 260 Minneapolis... 5,803 3,169 215 3,445 843 5 11, 984 4,101 1,625 5,410 36, 600 22, 951 142,118 Kansas City... 1,325 13,811 5,679 5,239 10,446 2,051 850 7,696 1,810 4,758 12,353 66,018 34, 376 51,437 Dallas 4,138 1,859 19, 870 4,597 1,676 9,114 4,162 2,991 12, 233 1,692 3,628 12, 381 78, 341 60, 608 52, 658 San Francisco. 3 2 21, 839 6,117 705 11,269 2,759 3 12, 473 1,314 5,287 17, 699 79, 470 33, 533 95,145 g Total: 1926. 35, 358 196,359 85, 889 45,174 132,125 64, 850 25, 051 123,190 41, 497 92, 682 205, 604 1,076,045 1925. 59, 094 61, 978 75, 867 45, 389 70, 274 102, 468 80, 202 40, 471 112. 244 76, 883 87, 005 236, 707 1,048, 582 1924. 85,033 59, 840 132, 601 80,905 72,467 192, 940 108, 347 57,237 99, 035 63, 262 62, 740 222, 111 1, 236, 518 1923. 175,086 117,185 87, 372 57, 573 114,904 149,012 88,716 84,069 102,371 86, 227 107, 481 156,407 1,326,403 g 1922. 197, 260 302, 965 226, 677 243,189 117, 812 290, 622 110, 030 158, 536 174,176 239, 308 66, 535 230,192 2, 357, 302 1921. 27,103 18, 880 46, 487 40, 485 152,393 63, 884 45, 257 42, 797 76, 271 43,123 131, 859 165,455 853, 994 s 1920. 43, 594 25, 301 14, 408 15,144 42,723 85,445 51, 519 63,340 164, 306 47, 988 45,288 127,254 726,310 1 Prior to 1922 includes securities, if any, purchased from other Federal reserve banks, in addition to purchases in the open market, separate figures not being available. 8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 57.—UNITED STATES BONDS: VOLUME PURCHASED IN OPEN MARKET1 [In thousands of dollars] Through Under open Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July August te S m e b p- er OctoberNo b v e e r m- De b c e e r m- Y 19 e 2 a 6 r r a c e g h p r a u e s e r e - - m in m a v e r e k n s e t t- t o A th l e l r ment committee 1926 Boston 19 215 2,013 76 534 219 835 3,911 755 3,137 19 New York . 12, 967 7,272 6,457 2,874 5,769 2,360 13,120 29, 573 80, 392 35,642 15,716 29,034 Philadelphia 210 2,300 4,043 222 123 124 7,022 3,022 4,000 Cleveland.. _ 790 3,290 91 224 594 975 500 3,879 10,343 4,993 5,350 Richmond 304 1,725 50 262 145 146 2,632 2,632 Atlanta . 1,319 369 1,735 2,974 1,346 2,335 2,115 630 706 919 304 383 15,135 2,057 13,078 Chicago 4,031 4,025 228 6,714 2,800 3,731 5,815 3,590 3,640 34, 574 26,493 8,081 St. Louis... . 278 10 1,479 3,000 156 634 612 343 39 160 546 7,257 2,368 4,889 Minneapolis... . . . . , . - - 533 1,438 78 402 5 8,173 3,700 10 225 14, 564 2,899 11, 665 Kansas City 1,325 1,942 3,375 4,750 3,655 1,160 850 450 500 1,500 1,502 21, 009 14, 825 4,734 1,450 Dallas 3,052 934 5,972 2,570 856 2,146 3,048 2,516 1,279 561 285 1,647 24, 866 14, 336 4,542 5,988 San Francisco 3 2 1,864 2,594 2 257 1,314 3 732 2 735 7,508 7,480 28 Total: 1926 . . _ 5,996 1,315 32, 042 33, 576 10, 045 19, 705 19, 873 7,416 22, 645 13, 894 19, 471 43, 235 229, 213 92, 051 61, 661 75, 501 1925 10, 258 5,024 7,818 5,861 5,477 2,776 3,339 1,814 •1,616 653 2,783 26, 803 74, 222 36,185 2,501 35, 536 1924 . 1,658 3,606 3,833 6,258 6,523 9,848 16, 592 5,038 9,098 14, 483 8,241 37, 318 122,496 4,184 30,100 88, 212 1923 4,166 9,952 9,466 3,539 32, 027 1,046 771 1, 027 1,458 1,286 550 12,199 2 77,487 14, 650 2 62, 837 1922 49, 388 54,919 57,310 32,292 11,962 24,030 14, 708 19, 934 28,127 45,125 5,927 6,474 2 350,196 1921 11 520 8,362 1,640 240 50 6,856 5 20,848 2 38, 532 1920 218 5 21 1 19 61 6 1 2 332 1919 1,014 146 166 1 86 278 60 1 1 4 2 1, 757 1918 14,337 14, 747 9,823 3,239 15, 832 13, 048 1,142 285 107 1,306 93 37 73, 996 Bonds purchased during 1926: Under repurchase agreement _ 3,254 805 18,000 1,250 5,250 8,950 8,673 6,050 7,568 8,175 6,210 17, 866 92, 051 Through open market investment committee 12,149 28, 751 1 732 9 000 5,000 5,029 61, 661 All other 2,742 510 1,893 3,575 4,795 9,023 2,200 1,366 10,077 5,719 13, 261 20, 340 75, 501 1 Prior to 1922 includes securities, if any, purchased from other Federal reserve banks, in addition to purchases in open market, separate figures not being available. 2 Includes Victory notes as follows: 1923, $41,454,000; 1922, $294,729,000; 1921, $20,800,000; 1920, $9,000; 1919, $428,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 58,—UNITED STATES TREASURY NOTES1: VOLUME PURCHASED IN OPEN MARKET2 [In thousands of dollars] Through Under open- Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July August te S m ep b - er O b c e t r o- No b v e e r m-De b c e e r m- Year 1926 r a c e g h p r a u e s e r e - - m in m a v e r e k n s e t t- t o A th l e l r ment committee 1926 Boston 509 1,518 1,709 1,946 511 2,978 393 250 232 210 659 1,229 12,144 4,306 7,538 300 New York 655 15,023 19,459 10,500 13,902 35,999 27,347 13,050 7,741 2,654 6,594 26,158 179,082 128,989 50, 093 Philadelphia. 636 1,621 119 2,671 172 74 62 229 647 6,231 5,231 1,000 Cleveland _ 75 2,754 2,245 318 6,815 1,4651 . 198 1,165 615 1,738 17,388 12, 980 4,408 Richmond 1,069 1,281 141 1,978 204 87 73 271 766 5,870 5,870 Atlanta 105 362 2,693 1,052 54 37 1,308 103 3 23 12 46 5,798 3,726 2,072 Chicago _ . .. 10,954 4,640 19,218 10,036 8,454 17,532 4,112 3,030 3,114 4,488 4,880 7,549 98,007 73, 753 24,254 St Louis 3,813 426 331 3,981 480 65 206 171 640 1,913 12, 026 11, 79* 228 Minneapolis 2,023 1,194 215 3,032 312 584 111 415 1,174 9,060 8,610 450 Kansas City 4,450 1,659 449 6,116 630 270 725 838 2,370 17, 507 16, 991 516 Dallas 721 550 5,123 1,490 445 6,275 847 475 277 231 860 2,431 19, 725 2,396 17,329 San Francisco _ 7,286 2,556 703 9,917 1,021 437 365 1,360 3,843 27,488 27,488 Total: 1926 . . 13, 019 22,093 70,233 36,006 25, 642 97,331 38, 291 16,973 13, 223 10, 278 17, 373 49,864 410,326 209,444 191,908 8,974 1925 18,332 26, 628 54,556 26,401 54,865 69,918 49, 746 23, 017 59, 530 40,886 52, 256 63,951 540,086 444,461 65,866 29,759 1924 _ 53,881 47, 084 75, 778 56, 777 47,461 101.032 76, 094 39,851 24, 257 7,281 26, 051 95, 892 651,439 117, 519 489,807 44,113 1923 71,474 62, 831 47,183 27,854 45,441 76,025 53,568 54,889 57, 353 50,001 41, 755 83,005 671,379 620,354 51,025 1922 .. .. 6,771 112, 986 81,237 55,153 19, 598 110,268 37, 761 69,562 92, 845 89,866 45,455 97,470 818,972 561,383 257,589 1921 _ 13,624 4,626 942 11, 253 10, 775 9,178 15, 500 65,898 38.549 27,349 1918. „ „ 520 520 1917.._ 456 1,882 1,220 756 1,370 1,369 10 7,063 1916 50 250 300 Treasury notes purchased during 1926: Under repurchase agreement 12,839 21,731 23,798 11,444 20,451 25,947 28,979 16,805 9,770 6,255 8,042 23,383 209,444 Through open-market investment committee 46,427 24, 551 4,821 67,960 7,001 3,000 2,500 9,319 26,329 191, 908 Allother 180 362 8 11 370 3,424 2,311 168 453 1,523 12 152 8,974 1 Figures for 1916-1918 represent renewable one-year gold notes; those for later periods represent Treasury notes with a definite maturity of over one but not more than five years* 2 Prior to 1922 includes securities, if any, purchased from other Federal reserve banks, in addition to purchases in the open market, separate figures not being available. Figures do not include securities sold by the Federal reserve banks under repurchase agreement and subsequently repurchased as follows: 1926, $63,000,000:1925, $132,000,000; and 1924, $103,000,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 59.—UNITED STATES CERTIFICATES OF INDEBTEDNESS: VOLUME PURCHASED IN OPEN MARKET1 [Exclusive of special temporary certificates issued to Federal reserve banks by the Secretary of the Treasury] [In thousands of dollars] Throug Under open- Federal reserve bank Ja a n ry u- Fe a b ry ru- March April May June July August te S m ep b - er O b c e t r o- No b v e e r m-De b c e e r m- Year 1926 r a c e g h p r a u e s e r e - - m in m a v e r e k n s e t t- t o A th l e l r g ment com- O mittee O cj 1926 B N Ph o e i s w l t a o d n Y e o lp r h k i . a .. . . 1,2 4 3 0 3 4 6,4 21 3 6 5 2 2 2 1 , , , 0 4 6 2 3 5 4 4 6 3 1 , , 1 6 8 2 1 5 5 9 9 5,570 4,0 3 1 2 2 8 9 9 5 4,0 2 1 7 2 5 1 6 2 3 1 1 , , ,8 7 4 2 2 6 9 2 6 7,8 2 1 9 8 6 0 5 0 31 1 , , 3 9 6 0 6 4 2 3 5 42 4 2 , , , 3 2 5 0 1 9 6 2 2 15 1 0 8 3 , , , 6 1 9 3 8 8 3 5 4 68 2 , , 4 5 6 9 6 8 7 10 6 5 , , , 5 4 5 9 9 8 0 9 5 2 7 , , 0 0 3 2 6 8 u Cleveland 1,075 4,248 1,775 32 495 192 200 9,353 429 2,628 5,935 26, 363 18, 922 7,441 o Richmond. 1,533 645 217 84 2,104 189 783 2,615 8,170 8,170 Atlanta.... 1,125 5,620 726 40 50 32 127 353 84 46 8,539 4,988 3,551 Chicago 4,885 2,815 16, 703 4, 673 ! 3,134 6,586 768 430 11, 575 4,796 6,446 14, 472 77, 283 40,803 36,480 St. Louis.__ 1,238 1,034 7,736 199 L- 410 199 4,962 1,959 6,411 24, 647 20, 655 3,992 Minneapolis... 3,247 537 335 129 3,227 290 1,200 4,011 12, 976 12,976 Kansas City... 7,419 645 40 675 261 6,976 585 2,420 8,481 27, 502 26, 602 900 Dallas 365 375 8,775 537 375 693 267 10, 677 900 2,483 8,303 33, 750 27, 420 San Francisco.. 12, 689 1,095 424 11, 304 3,925 13,121 44, 474 43, 224 1, 250 Total: 1926.. 9,251 11, 950 94,084 16,307 ! 9,487 15, 089 662 87,322 17, 325 55, 838 112, 505 436, 506 118,197 292, 111 26,198 1925,. 30, 504 30, 326 13,493 13,127 I 9, 932 29, 774 27,117 15, 640 51, 098 35,344 31, 966 145, 953 434, 274 222,900 104,154 107,220 J924.. 29, 494 9,150 52, 990 17,870 18,483 82, 060 15, 661 12,348 2 65,680 41, 498 28, 448 88, 901 ! 462, 583104, 911 278,440 79, 232 1923.. 99,446 44,402 30,723 26,180 ! 37,436 71,941 34, 377 28,153 ' 43, 560 34,940 65,176 61, 203 577, 537 448,956 128,581 1922.. 141,101 135, 060 88,130 155, 744 86, 252 156, 324 57, 561 69, 040 53,204 104, 317 15,153 126,248 11,188,134 411,817 776, 317 1 1 9 9 2 20 1 . . . . 2 4 7 3 , , 3 0 7 9 6 2 2 1 5 8 , , 2 8 9 8 6 0 4 1 6 4 , , 4 3 8 8 7 7 3 1 9 5 , , 1 9 4 6 3 5 1 4 4 2 4 , , 7 0 2 3 3 1 4 8 8 5 , , 6 4 2 4 0 5 4 51 0 , , 5 6 1 3 9 1 4 6 1 3 , , 3 6 2 1 1 5 1 6 6 4 4 , , 3 9 0 6 6 8 2 47 5 , , 4 9 9 2 2 7 12 4 2 5 , , 2 6 8 7 2 6 1 1 2 2 9 7, , 2 1 5 0 3 7 | j 7 74 2 9 5 , , 9 5 7 6 8 4 2 31 5 2 4 , , 9 5 8 8 6 1 4 4 9 1 4 3 , , 5 3 7 9 8 7 O Certificates purchased during 1926: QQ Under repurchase agreement 6,887 9,841 13,881 4,239 9,079 7,347 3,736 430 | 9, 032 10,419 25, 893 17,413 I 118,197 Through open-market investment committee 75, 341 10, 748 7,50Q !,900 72,313 6,500 26, 894 89, 915 292, 111 Allother... 2,364 2,109 4,862 1,320 408 50 232 5, 977 406 3,051 5,177 26,198 1 Prior to 1922 includes securities, if any, purchased from other Federal reserve banks, in addition to purchases in open market, separate figures not being available, ? Exclusive of $10,000,000 of certificates sold by the Federal reserve banks under repurchase agreement and subsequently repurchased, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 60.—UNITED STATES CERTIFICATES OF INDEBTEDNESS: VOLUME OF SPECIAL TEMPORARY CERTIFICATES ISSUED TO FEDERAL RESERVE BANKS BY THE SECRETARY OF THE TREASURY [In thousands of dollars] By months in 1926 By years Federal reserve bank March June September December 1926 1925 1924 1923 1922 1921 1920 Boston 26, 500 21, 000 47, 500 21, 000 59,000 155, 000 56, 500 156,000 471, 000 New York. 478,000 368, 000 191,000 228, 000 1, 265, 000 1, 060, 000 878, 000 758, 000 1, 403, 500 2,077, 000 3, 836, 000 Philadelphia 14, 500 5, 500 14,000 34, 000 71, 500 20, 500 94, 000 104, 000 141, 000 311, 000 i Cleveland . 40, 500 13, 000 53, 500 20, 000 11, 000 325, 000 122, 000 343, 000 831, 000 Richmond.._ ... . 100, 500 32, 000 37, 000 84, 000 Atlanta . . 2,000 2,000 54, 500 7,000 17, 000 Chicago . 25, 000 42, 000 32, 000 13, 000 112,000 78, 500 33, 000 311, 500 189, 000 138, 000 800, 000 St. Louis 3,000 3,000 7, 000 70, 500 98, 000 36, 000 59, 000 Minneapolis 7,000 2,000 47, 000 15, 500 140, 000 Kansas 4,500 4,500 8,000 10, 000 73, 500 27, 000 4,000 112, 000 Dallas 24, 000 6,000 3,000 176, 000 San Francisco 6,000 4,500 10, 500 2,500 161, 000 95, 000 51,100 425,000 Total 503, 000 499, 500 271, 500 258, 000 1, 532, 000 1, 268, 500 1, 020, 500 2,174, 500 2,148, 500 2, 993,100 7, 262, 000 w i oW > Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOLD SETTLEMENT FUND No. 61.—GOLD SETTLEMENT FUND: SUMMARY OF TRANSACTIONS THROUGH THE FUND [In thousands of dollars] C0O0 r CO Daily settlements between Federal reserve Net loss or gain of gold through banks Inter-reserve bank Balance to Federal reserve bank B J a an la . n 1 ce Transit clearings F n e o d t e e r c a l l e r a e r s in er g v s e transfers 1 d W raw ith a - ls Deposits a b i t n u c s l f i o u n s n e e s d s of Transit clearings2 Com an b d i n t e r d a n c s l f e e a r r s ings Dec. 31 Payments Receipts Payments Receipts Payments Receipts Loss Gain Loss Gain Q O 1926 Boston 32, 809 11,277,967 11,497,562 63,194 45,326 158,300 2,500 175, 000 135, 600 39,336 219, 595 45, 927 5 New York... 254,227 36,108, 884 35, 518,049 120,107 173, 717 141,900 767, 500 1, 634, 227 1, 515,100 223,475 590, 835 88,375 Philadelphia. 9, 465, 055 9, 555,143 71,300 66, 541 127,200 6,700 120,414 139, 400 32,699 ""90,"088' 35,171 p. Cleveland.. 62,916 8, 849,296 8, 968, 745 96,756 47, 273 93,500 16,900 86, 000 86, 000 56,282 119,449 6,634 H A Ri t c la h n m ta ond _ 2 20 3 , ,9 2 5 4 2 0 4 7 , , 3 3 6 0 9 5 , , 0 5 0 8 2 5 7 4 , , 3 5 5 4 6 4 , , 6 1 3 2 5 5 4 5 1 4 , , 4 8 2 2 6 3 4 4 1 9 , ,1 5 6 5 3 2 1 8 1 1 7 , , 5 0 0 0 0 0 1 8 6 , ,4 5 0 0 0 0 28 9 4 1 , , 0 4 0 0 0 0 2 10 2 7 5 , ,4 6 8 3 7 1 2 2 7 1 , , 2 7 4 0 2 7 17 5 4 1 , , 6 5 3 4 3 0 13,341 60,380 H F g Chicago 128,969 16,143, 586 16, 243, 742 60, 553 86,109 157, 000 54, 500 163, 000 142,300 131,481 100,156 23,212 St. Louis 20, 398 6, 844,304 6, 799, 667 16, 655 37, 987 29,000 45,800 57,600 76,900 33,193 44, 637 6,505 Minneapolis .. 18, 760 2,121, 231 2,150,058 23,751 i 16,747 28,500 15, 400 61,500 54, 500 20, 483 ~~28,~827" 8,723 Kansas City.. 32, 729 5, 333, 650 5. 271,093 28,680 25,420 20,000 35,100 42,000 90,500 30, 512 62,557 50, 717 Dallas 12,101 3,463, 299 3,479, 826 18,686 18,648 21, 500 24,600 52, 500 39, 900 19,090 16, 527 19,589 San Francisco.. 33,170 4,173,437 4,070, 651 39,873 j 27,321 68,000 49, 500 261, 556 391, 985 29, 761 102,786" 133,838 Year: 1926 689,155 115,455,296 115,455,296 635,804 I 635,804 1, 043, 400 1, 043,400 3, 029,197 3, 005,303 665,261 800, 815 800, 815 246, 206 246, 206 1 1 1 9 9 9 2 2 2 5 4 3 ! 6 5 5 7 7 5 9 1 4 , , , 4 0 3 6 8 6 5 8 2 10 8 9 8 9 7 , , , 6 2 6 9 1 8 8 4 9 , , , 4 3 7 6 2 3 6 5 3 1 9 8 0 9 7 8 , , , 6 2 6 9 8 1 9 8 4 , , , 4 3 6 2 7 6 5 33 In u c m lu n d s e 2 d a i n n d c o 3 l- 1,0 9 91 3 0 9 9 8 , , , 1 9 5 5 5 7 1 0 0 1, 9 9 0 0 1 3 8 9 9 , , 9 , 5 5 1 7 5 1 0 0 1 1 1 , , , 9 7 7 2 6 7 1 4 8 , , , 7 3 9 8 4 5 2 4 8 2 1 1 , , , 7 7 0 8 8 3 8 1 0 , , ,1 0 6 5 7 4 9 0 8 6 6 5 8 7 7 9 9 1 , , , 1 4 0 5 6 8 5 5 8 3 5 5 8 1 0 9 3 6 , , , 8 4 2 5 6 3 6 8 9 3 5 5 8 1 0 9 3 6 , , , 2 8 4 3 5 6 9 6 8 3 2 1 0 9 7 8 3 3 , , , 4 8 2 5 9 5 6 9 2 3 1 0 7 8 3 , ,8 2 9 5 9 2 1922 i 522,063 75,335, 987 75, 335,987 1,153,975 1,153, 975 1, 793,034 1,825, 333 554,362 748, 639 748, 639 312,258 312, 258 1921 357,278 64, 934,801 64,934,801 3, 289, 081 3, 289,081 2, 303, 221 2, 468, 006 522,063 1,150.002 1,150,002 391, 922 391, 922 1920 329,737 85,074, 220 85,074, 220 7,551,585 7,551,585 1, 657,984 1, 685, 525 357,278 1, 565,839 1, 565,839 471, 555 471, 555 1919 401,926 66, 053, 393 66,053,393 7,930,859 7,930,859 1,871, 933 1, 799, 744 329, 737 3, 526, 274 3, 526,274 281, 385 281, 385 1918 311,644 45.439,487 45,439,487 4, 812,105 4, 812,105 1,614,730 1, 705, 012 401,926 2,670,339 2.670,339 238, 314 238, 314 1917. 169, 740 24, 319, 060 24,319,060 2, 643,846 2,643,846 1, 235, 739 1,377, 643 311, 644 2,154, 721 2,154, 721 272.033 272,033 1 19 9 1 1 5 6 . . 77 ( , 3 ) 760 5 1, , 0 5 5 3 2 3 , , 6 9 4 6 9 6 5 1 , , 5 0 3 5 3 2 , , 9 6 6 4 6 9 Include 2 d a i n n d c 3 olumns 23 7 1 8 , , 0 0 7 4 0 0 3 1 2 5 3 5 , , 0 8 5 0 0 0 16 7 9 7, , 7 7 6 4 0 0 22 8 3 5 , , 8 6 7 9 0 7 2 8 2 5 3 , , 6 8 9 7 7 0 2 8 2 5 3 , , 8 6 7 9 0 7 2 8 2 5 3 , , 8 6 7 9 0 7 1 All for Government account after 1921, except $5,000,000 transferred to Dallas by New York in 1926. 3 Established May 20, 1915. 2 Includes Federal reserve note clearings prior to 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

118 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 62.—CLEARING AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND BY WEEKS [In thousands of dollars] Week ending— c T le r a a r n in s g it s | I i F se e c r d le v e a e r r a i n l n o g r s t e e - I b n a te n r f k - e r r e s tr s a i e n rv s e - T t o i r n t a g a n l s s f c a e l n r e s d ar- 1926 Jan. 6 (5 days). 1,891,346 6,208 17,000 1,914,554 13.. 2,262,361 14,831 5,000 2,282,192 20 2,278, 881 16,570 2,000 2,297,451 27 2,201,881 15,639 1,500 2,219,020 Feb. 3.. 2,182, 961 10,839 3,000 2,196,800 10- 1, 966,479 9,987 2,000 1,978,466 17.. 1,923, 588 9,042 1,932,630 24.. 1, 849,647 6,850 1,000 1,857,497 Mar. 3. 2,302,369 14,906 3,000 2,320,275 10. 2,115,663 9,719 2,125,382 17. 2,451,767 10,682 140,700 2,603,149 24.. 2,341,126 8,649 130,000 2,479,775 31. 2,288,207 11, 809 7.000 2,307,016 Apr. 7- 2,291, 462 13, 203 5.000 2,309,665 14.. 2,234,957 6,224 3.000 2,244,181 21- 2,412,446 10,670 24,000 2,447,116 28.. 2, 219,676 10,922 2,500 2,233,098 May 5- 2,152,718 14, 767 2,000 2,169,485. 12.. 2,029, 838 9,748 1,500 2,041.086 19.. 2,307,606 13,548 16,000 2,337,154 26.. 2,083, 819 10,164 2,093, 983 June 2.. 1, 983,639 11, 976 2,000 1,997,615- 9- 2,093,977 13,111 26,100 2,133,188- 16- 2,361,912 11,302 51,500 2,424,714 23- 2,357,442 10,303 97,700 2,465,445 30- 2,427,084 13.405 44,400 July 7- 2,043,411 10,239 15,500 2,069,150 14.. 2,123,788 12,041 8,500 2,144,329 21.. 2,288, 831 11,248 2,300,079 28.. 2.210,463 16,190 3,500 2,230,153 Aug. 4_. 2,215,830 13,492 2,229,322 11-. 1,988,974 11,638 14,500 2,015,112 18.. 2,113,518 11,507 7,000 2,132,025 25- 2,147,300 12, 730 30,500 2,190,530 Sept. 1_. 1,951,210 15,085 1,966,295 8.. 1.683,464 8,803 31,200 1,723,467 15.. 2,106,452 15,990 28,700 2,151,142 22- 2,472,866 11,194 71,100 2,555,160 29_. 2,196,628 21,918 7,000 2,225,546 Oct . 6_. 2,422,959 15,130 3,000 2,441,08$ 13.. 1,982,754 12,484 8,500 2,003,738 20- 2,718,392 12,918 28,000 2,759,310 27.. 2,616,017 16,120 4,000 2,636,137 Nov. 3.. 2,028,081 9,104 3,000 2,040,185 10.. 2,268,344 16,449 11,000 2,295,793 17-. 2, 254, 544 12,322 13,000 2,279,866 24.. 2,364,726 13.406 2,000 2.380,132 Dec. 1_. 2,055,203 11,601 4,000 2,070,804 2,260,500 11.939 3,000 2,275,439 15 2,358, 951 12, 541 21, 500 2,392,992 22.. 2, 608,403 12, 954 117,500 2,738,857 29 2,030,673 9,895 11,000 2,051, 568 Dec. 31 (2 days).. 930,162 1,792 8,500 940,454 Total, 1926.. 115,455,296 635,804 1,043,400 117,134, 500 1925.. 108, 289, 466 908, 951 109,198,417 1924.. 97,698,325 919, 570 98,617,895 1923. 89, 614, 733 1,039,150 90,653,883 1922.. 75,335,987 1,153,975 76, 489, 962 1921.. 64, 934, 801 3,289,081 68,223,882 1920.. 85,074, 220 7, 551, 585 92,625,805 1919.. 66,053,393 7,930,859 73, 984, 252 1918.. 45,439,487 4,812,105 50,251,592 1917.. 24,319,060 2,643, 846 26,962,906 1916.. 5, 553,966 1915.. 1,052,649 i All for Government account after 1921, except $2*500,000 each in the weeks ending July 28 and Digitized foAr uFgRusAt S11E,1R9 26. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE AGENTS' GOLD FUND No. 63.—SUMMARY OF TRANSACTIONS THROUGH THE FUND [In thousands of dollars] Balance at Federal reserve agent at— B J a a l n a . n 1 ce d W raw ith a - ls Deposits T to ra n b s a f n e k rs f T ro r m an s b f a e n rs k b c u lo s s in e e o s f s Dec. 31 Boston 25,000 150,000 79,000 85,000 175,000 44,000 New York 116,000 1,105,000 1,080,000 91,000 Philadelphia... 127,389 140,000 109,488 96,877 Cleveland 170,000 50.000 10,000 130,000 Richmond 44,500 74,750 11,250 37,000 91,000 35,000 Atlanta 70, 900 112,900 126,400 284,400 116,000 Chicago 110,644 55,000 105,000 160,644 St. Louis 4,200 15,000 3,000 22,000 40,100 10.300 Minneapolis... 42,000 5,000 44, 500 53,500 46,000 Kansas City... 50,360 42,000 19,666 9,000 42,000 60,360 Dallas 6,000 7,500 9,500 27,000 16,000 San Francisco.. 193,239 21,000 255,986 241,000 157,253: Year: 1926. 960, 232 568,150 112,250 1, 799,386 2,258,488 963,434 1925. 1,307,894 559,795 126, 000 975,567 1,061,700 960,232 1924. 1,648,894 626,000 149,500 1,022, 750 1,158,250 1,307,894 1923. 1, 681,098 755,000 148, 500 565, 704 1,140,000 1,648,894 1922. 1,394, 884 924,000 492,900 609,502 1,326,816 l,681,09& 1921. 1,589,500 1,023,854 587,372 1, 651,210 1,394,884 1920. 886,327 1, 060,700 451,350 498, 585 1,118,300 896,692- 1919. 928,497 1,011,370 165,000 675,440 1,479,640 886,327 1918. 496,604 103, 594 35,021 1,011, 831 1, 512,297 928,497 1917. 102,580 56, 590 8,820 411,087 852,881 496,604 1916. 56,860 27,320 21,480 94,520 102, 580 1915. 0) 4,400 52,460 56,860 * Established Sept. 8,1915. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

MEMBERSHIP IN PAR COLLECTION SYSTEM to No. 64.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, BY FEDERAL RESERVE DISTRICTS o [The figures for member banks, beginning with 1925, represent the number of banks in actual operation; prior to that time the figures represent the number of banks shown by the capital stock records of the Federal reserve banks. Figures for end of month] Total Boston New York Philadelphia Cleveland Richmond Atlanta Nonmember Nonmember Nonmember Nonmember Nonmember Nonmember Nonmember banks banks banks banks banks banks banks Month Mem- Mem- Mem- Mem- Mem- Mem- Memba b n e k r s p l O i a s n r t on N li s o p t t ar ba b n er ks p O a n r N p l o i o a n s t r t ba b n er ks p l O i a s n r t N p l o i a s n o r t t ba b n er ks p l O i a n s r t N p l o i a o n s r t t ba b n e k r s p l O i a s n r t N p l o i a s o n r t t ba b n er k s I j i O li p n s a t r N p l o i o a n s t r t ba b n er ks p l O i a s n r t N p l o i a s o n r t t 3 1926 January 9,459 14, 540 3,986 418 245 881 392 754 861 1,071 599 704 684 493 364 1,104 February 9,437 14,490 3,990 418 245 883 394 753 513 8G1 1,072 599 704 678 492 362 , 107 March 9,425 14,441 | 3,981 418 245 883 398 757 513 860 1,073 594 702 676 495 359 ,103 April 9,410 14,382 3,963 417 245 397 758 513 860 1,070 590 663 492 360 ,108 May 9,400 14,325 3,971 417 j 245 894 397 760 515 861 1,071 590 692 661 492 357 ,110 June 9,384 14, 257 3, 965 416 ! 245 895 402 760 514 860 1,072 589 694 655 489 351 ,108 July 9,377 14,207 3,901 416 244 902 404 760 : 513 859 1,073 586 692 651 489 331 ,035 August 9,377 14,164 3,907 416 244 906 404 765 I 510 857 1,075 587 649 489 336 ,037 September 9,360 14,130 3,924 415 244 907 407 764 511 857 1,075 587 691 650 489 334 ,050 October 9,336 14,073 3,935 415 244 908 410 765 511 857 1,074 584 692 646 485 336 ,062 N D o ec v e e m m b b e e r r 9 9, , 2 3 6 0 0 1 1 1 3 3 , , 9 9 1 9 1 1 3 3, , 9 9 1 2 3 5 4 4 1 1 6 6 2 24 4 6 5 9 9 1 1 1 3 4 4 1 1 2 1 7 7 6 6 9 9 5 5 0 0 9 9 8 8 5 5 6 6 1 1, , 0 0 7 7 1 5 5 58 8 3 4 6 6 9 8 3 6 6 62 3 5 5 4 4 8 7 1 5 3 3 3 3 6 3 , , 0 0 5 6 7 6 w December, 1925 9,489 14, 643 3,970 420 246 880 391 753 513 863 1,073 604 712 687 495 366 ,102 December, 1924 9,682 15,445 3,647 420 234 859 381 743 519 872 1,075 624 743 715 516 ,105 w December, 1923 9,896 16, 725 2,896 424 228 360 725 514 1,071 631 865 637 535 380 ,127 o December, 1922 9,916 17, 822 2,288 427 259 343 717 486 1,085 634 962 568 543 380 ,129 December, 1921 9,841 18,102 2,263 436 257 800 334 704 473 1,085 626 990 577 515 390 ,156 December, 1920 9,629 19,139 1,755 436 255 783 329 698 439 871 1,079 610 1,266 334 462 ,233 December, 1919 9,066 16,499 3,996 432 245 753 322 678 415 843 1,085 585 485 995 426 355 ,219 December, 1918 8,692 10,305 110,247 423 246 723 339 661 329 i 102 814 728 565 351 11,156 426 209 ,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Chicago St. Louis Minneapolis Kansas City Dallas San Francisco Nonmember Nonmember Nonmember Nonmember Nonmember Nonmember Month banks banks banks banks banks banks Mem- Mem- Mem- Mem- Mem- Member ber ber ber ber ber banks On par Not on banks On par Not on banks On par Not on banks On par Not on banks On par Not on banks On par Not on list par list list par list list par list list par list list par list list par list g 1fed 1926 January . __ .. . _ 1,392 3,796 264 623 2,093 405 829 1,151 1,068 1, 023 2, 657 205 850 761 183 736 793 63 February 1, 389 3,790 260 621 2,076 412 822 1,136 1,076 1,020 2,645 202 849 761 181 730 792 64 March _ 1, 383 3, 791 262 622 2,062 415 822 1,123 1,067 1,017 2, 635 203 850 758 181 724 782 64 W \pril 1,377 3,779 256 622 2,052 414 816 1,104 1,067 1,018 2,627 203 847 758 178 724 785 64 W May 1,372 3 768 249 621 2,042 416 810 1,087 1,078 1 015 2,615 201 844 752 182 724 784 64 June - ._ 1,369 3,762 240 619 2,036 418 806 1,049 1,083 1,011 2,601 202 844 747 186 726 784 64 July 1,368 3,759 233 617 2,030 420 803 1,036 1,092 1,010 2,598 205 843 745 190 724 782 66 August 1,363 3,758 227 618 2,027 422 799 1,014 1,098 1,009 2,585 205 843 741 193 725 782 67 September 1,361 3,736 231 618 2,023 422 789 1, 006 1,098 1,006 2,579 205 842 741 192 725 783 67 October 1,357 3, 721 233 618 2,019 424 784 976 1,097 1,003 2,580 202 837 728 197 723 782 66 N D o ec v e e m m b b e e r r 1 1 , , 3 3 4 3 2 5 3 3 , , 6 7 9 0 9 5 2 2 2 2 7 8 6 6 1 0 7 9 2 1, , 9 0 9 1 6 1 4 4 2 2 7 8 7 76 7 4 1 9 9 4 2 3 3 1 1 , , 0 0 9 9 4 3 9 9 9 9 9 2 2 2 , , 5 5 3 6 7 3 2 21 0 2 5 8 82 3 7 3 7 7 2 1 0 1 1 1 9 9 7 7 7 7 2 2 2 1 7 7 8 8 5 3 6 65 6 o o December 1925 1,398 3,808 260 628 2,111 401 829 1,185 1,062 1,027 2,667 205 852 768 182 740 803 61 December 1924 1,419 3,927 218 628 2,225 332 906 1, 498 853 1,086 2,747 204 838 862 153 771 851 57 December 1923 1,435 4,105 114 630 2,373 233 979 2, 085 445 1,146 2,858 196 863 958 95 809 928 44 December 1922 . . 1,443 4,246 610 2,467 159 1,014 2,596 188 1,152 3,007 165 861 1,045 52 826 946 26 a December 1921 . _ 1,443 4,235 588 2,489 167 1,024 2, 635 154 1,103 3, 091 185 861 1,151 23 857 972 December 1920 1 421 4 266 571 2 514 188 1 009 2 891 1 087 3 391 850 ] 274 831 1,027 December 1919 1,374 3,896 293 538 2,309 355 920 1,879 1, 025 1 038 3,346 756 1,220 723 942 109 December 1918 1,334 2,392 1 1,805 514 1,046 i 1, 600 867 1,169 i 1, 743 994 2,200 1979 727 247 1947 644 1,049 1 159 3 i Approximate figures. NOTE.—Nonmember banks not on par list comprise all incorporated banks, other than mutual savings banks, that have not agreed to pay, without deductions for exchange, such checks drawn upon them as are presented for payment by the Federal reserve banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

122 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 65.—MEMBER BANKS AND NONMEMBER BANKS ON PAR LIST AND NONMEMBER BANKS NOT ON PAR LIST: NUMBER IN EACH STATE ON DECEMBER 31 Nonmember banks Member banks f Division and State On par list Not on i)ar list* 1926 1925 1926 1925 1926 1925 New England: Maine 61 62 48 50 New Hampshire 56 55 14 14 Vermont 46 46 39 39 Massachusetts . 181 181 71 70 Rhode Island 17 21 8 8 Connecticut. _. _ 67 66 86 84 Middle Atlantic: New York 655 636 280 275 New Jersey -- . 354 333 171 153 Pennsylvania 970 958 645 658 East North Central: Ohio . 430 441 657 658 Indiana 257 264 812 826 10 8 Illinois - _. 577 589 1,275 1,293 23 20 Michigan 291 290 508 513 53 92 Wisconsin 179 185 589 618 211 188 West North Central: Minnesota 307 331 410 515 534 519 Iowa .- -_ 371 417 1,139 1,207 43 51 Tvtissouri 199 198 1,240 1,3,11 33 35 North Dakota ... , 148 163 123 203 292 282 South Dakota 109 122 153 208 157 163 Nebraska 167 181 712 740 188 176 Kansas _ 262 266 944 1,006 3 3 South Atlantic: Delaware 23 22 32 32 Maryland 89 89 167 166 District of Columbia 13 13 32 34 Virginia 182 193 219 227 99 101 W^est Virginia 141 141 193 196 9 9 North Carolina 88 91 81 89 319 339 South Carolina 84 92 20 25 198 238 Georgia 138 153 64 75 313 375 Florida _ 73 70 92 87 163 159 East South Central: Kentucky 147 146 431 432 19 22 Tennessee 112 118 191 222 249 235 Alabama - 123 124 23 27 206 199 Mississippi 41 45 19 25 276 275 West South Central: Arkansas 109 122 231 256 127 112 Louisiana . 44 46 29 35 175 171 Oklahoma 361 382 356 371 6 4 Texas 763 779 664 713 112 98 Mountain: Montana _ .-- 102 111 101 106 11 11 Idaho 74 80 80 80 1 Wyoming- _ _ ,_ 34 34 54 54 8 11 Colorado 131 134 169 181 5 6 New Mexico 32 33 28 29 2 3 Arizona 18 20 26 30 4 4 Utah 45 46 67 68 Nevada 10 10 24 24 Pacific: Washington 150 156 170 171 36 32 Oregon . 130 134 105 110 28 29 California 299 300 319 329 Total 9,260 9,489 13,911 14,643 3,913 3,970 1 Incorporated banks other than mutual savings banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CLEARING OPERATIONS No. 66.—OPERATIONS OF THE FEDERAL RESERVE CLEARING SYSTEM [Numbers in thousands. Amounts in thousands of dollars] Items drawn on member and nonmember banks in- Federal reserve bank Ow ba n n k F ed a e n r d a l b re r s a e n r c v h e Ow F n ed d e i r s a t l r ict, r o e u s t e s r i v d e e Ite b b F m r a e a n d s n k e c r h a d e l r a a s n w r d e n s er o v it n e s Ite U T m r n e s i a te su d d r r e a r w S n t at o e n s Ite f t b o i m r c a e s o n w c o h r n e f o s h t r e o w a a d o r d w o e f n d - Ite s t o m h e th e r s v i e r e f r o b F b r r w a e a d n a n e k r c d r s h a e a e l d s n re t d o - To t i i n t o a c n l l u s d i * i t n em g s h d a u n p d l l i e c d a- , cities bank and branch cities O Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number AAmmoouunntt gtrg 1 N Bo e s w to Y n ork ____ 4 1 7 0 , , 1 1 1 7 3 4 4 1 6 1 , , 8 4 7 7 6 7 , , 4 8 5 1 7 7 8 6 4 1 , , 7 5 8 9 4 8 1 6 1 , , 7 5 6 4 6 5, , 1 2 3 0 2 4 660 3 1 1, , 4 2 2 4 2 5 , , 7 4 8 4 9 8 5 1, , 7 9 1 0 8 8 1,1 1 9 94 0 , , 5 6 3 6 3 3 585 153,247 1 3 6 , , 3 43 3 8 7 1, 7 8 0 8 3 0, , 2 7 3 1 4 7 1 7 5 6 5 , , 9 4 2 8 0 8 2 9 0 3 , , 3 0 8 68 7 . , 3 8 6 7 6 5 . { Philadelphia 18,399 11,932,435 38,575 4,680,509 115 6,937,708 1,928 279,890 9,415 1,555, 933 68,432 25.386, 475 Cleveland 16,998 9,704,471 49,963 5,113,836 194 12,367,108 2,341 265,737 1,300 ~3l6,~383" 2,542 824,792 2 73,487 2 28, 614,232 Richmond- 5,285 4,057,464 36,917 5,090,536 102 2,979,273 1,479 169,922 2,401 273,074 4,246 1,354,482 50,430 13, 924, 751 Atlanta 6,040 5,992,199 19,154 2,408,542 172 3,680,923 1,649 180,568 1,808 384,424 2,752 1,027,066 31,575 13,673,722 Chicago 20,974 13,032,735 78,746 6,490,407 473 6,548,250 5,088 613,850 336 53,627 6,183 555,726 111,800 27,294,595 St. Louis 9,743 7,815,670 34,941 2,072,662 149 1,116,321 2,347 183,497 240 27,938 1,153 97,127 48,573 11,313,215 s Minneapolis 3,948 1,868,574 18,952 1,127,472 851,513 901 102,431 36 27,684 1,307 308,155 2 25,286 24,336,350 Kansas City 8,367 5,358,422 55,982 4,134.847 84 995,219 2,129 275,651 1.007 365,027 2,928 656,181 2 70,500 211,787,519 Dallas _ 3,232 2,184,801 29,479 3,526,404 149 1,440,300 797 86,806 657 101,994 1.281 190.229 35,595 7,530,534 San Francisco 17,070 6,382,673 50,271 3,264,139 104 4,735,859 2,920 558,781 2,671 334,170 1.785 351,904 74,821 15,627,526 Total: 1926 167,343 126,683,718 559,362 56,220,690 2,394 74,320,711 29,205 4,102,329 11,041 2,037,568 53,367 9,505, 546 2 822,907 2 272,945,160 1 1 19 9 9 2 2 2 3 4 5 3 3 3 1 1 1 6 3 5 0 7 0 , , , 4 4 7 0 8 8 5 5 4 3 3 31 1 8 1 4 9 5 3 , 6 , 8 , 5 6 9 6 8 1 6 8 , , 5 , 5 7 5 5 6 3 3 2 4 4 5 9 6 2 8 5 8 , , , 7 7 0 3 3 8 3 6 0 4 4 5 8 8 3 , , , 1 1 5 9 4 2 4 6 6 , , , 8 7 7 1 8 7 3 9 5 I | In t c w lu o d e c d o lu i m n ns first 3 3 2 5 4 7 , , , 8 8 2 5 0 8 7 3 9 4 4 4 , , , 0 1 5 0 6 1 8 0 1 , , , 2 7 9 8 3 9 6 5 6 1 9 9 0, , , 1 2 8 1 3 3 6 0 4 2 2 2 , , , 0 2 2 9 6 8 1 5 6 , , , 1 6 2 5 9 4 0 0 5 4 4 5 9 8 2 , , , 4 0 6 5 3 4 4 6 6 9 8 8 , , , 3 4 7 3 4 9 5 0 7 , , , 6 9 7 2 8 6 1 3 6 2 2 2 6 7 7 9 4 7 7 2 8 , , , 6 5 8 8 0 7 6 2 8 2 2 2 2 2 2 0 1 5 7 9 8 ,7 , , 8 6 1 3 1 9 2 1 , , , 5 1 2 2 7 7 9 6 9 1 Figures in columns 9 and 10 should be deducted to obtain the total items handled by a given Federal reserve bank and its branches, exclusive of intradistrict duplications; figures in columns 9, 10, 11, and 12 should be deducted to obtain the total items handled by the Federal reserve system, exclusive of all duplications. 1 Includes items forwarded by Federal reserve banks direct to drawee banks in other Federal reserve districts, as follows: 1926—Cleveland, 149,000 items, $21,905,000; Minneapolis, 43,000 items, $50,521,000; Kansas City, 3,000 items, $2,172,000; 1925, 192,000 items, $82,181,000; 1924, 196,000 items, $81,090,000; 1923, 190,000 items, $85,996,000. * Includes items drawn on Federal reserve banks and branches, separate figures not being available. to CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

OPERATIONS OF BRANCHES No. 67.—BRANCHES OF FEDERAL RESERVE BANKS: VOLUME OP OPERATIONS NUMBER OF PIECES HANDLED 3 Noncash collection items Fiscal agency— Federal reserve branch and district number disc B o i u ll n s ted an C r d e u c r c e r o i e v u n e n c d t y ed ce c C i o v o u e in d n t r e a e d n - d . Checks handled handled is t s io u c n h es s a , , n r g a e n e d s d e o m e f x p - - Tra f n u s n f d er s s of d Go c v o e u r p n o m ns ent All other Un s i e t c e u d r i S ti t e a s tes No. 2.—Buffalo : 4,058 43,069,000 20, 528,000 12,208,000 221,000 146,000 5,000 15,000 No. 4.—Cincinnati. 34, 763, 000 48, 890, 000 17,589, 000 1,382,000 18,000 197,000 22,000 Pittsburgh _ 54, 575,000 34, 800, 000 23, 966, 000 1,126,000 25,000 102,000 16,000 No. 5.—Baltimore 6,915 48,426, 000 121, 414, 000 18,211,000 671,000 63,000 21,000 33,000 No. 6.—Birmingham 13, 664,000 8, 798, 000 4, 768,000 57,000 16,000 1,000 5,000 Jacksonville 24,416,000 13,125, 000 7,160,000 77,000 44,000 15, 000 11,000 Nashville 17, 686, 000 2,114, 000 5, 650,000 92,000 24,000 14,000 5,000 New Orleans 18,901 26,681, 000 21, 546, 000 3,944, 000 335, 000 26,000 24,000 12,000 No. 7.—Detroit 6,542 66, 288, 000 25, 652, 000 19,049, 000 626,000 90,000 40,000 35,000 No. 8.—Little Rock 8,466 9,839, 000 5, 418, 000 5,028,000 68,000 27,000 11,000 15,000 Louisville.. 4,415 21, 396, 000 28, 997, 000 8, 653,000 421,000 26,000 22,000 22,000 Memphis 20, 480, 000 11,123, 000 3,933,000 112,000 41,000 368 24,000 No. 9.—Helena 1,570 1, 982, 000 619,000 2,179, 000 93, 000 19,000 10,000 8,000 No. 10.—Denver 5,150 7, 381,000 7, 720, 000 8, 616, 000 343, 000 50,000 21,000 15,000 Oklahoma City. 5,456,000 5, 306, 000 18, 321, 000 86, 000 60, 000 20,000 8,000 No. 11.— O El m P a a h s a o.. .- 7 1, , 1 0 7 5 2 5 4 5 , , 0 5 7 7 3 9 , , 0 0 0 0 0 0 4 4 , , 1 1 1 2 6 4 , , 0 0 0 0 0 0 1 2 1 , , 9 6 5 93 0 , ,0 0 0 0 0 0 31 3 0 8 , , 0 0 0 0 0 0 4 1 3 4 , , 0 0 0 0 0 0 24,0 2 0 4 0 3 2 1 8 0 , , 0 0 0 0 0 0 i1 No. 12.— H S S S P L p a e o o o l a o r s t u t t k t A l s L l a a e t n n a n o g e k d n e e . l e .. C s ity- 3 4 5 2 2 1 , , , , , , 1 0 3 2 9 3 2 1 4 9 7 3 9 0 8 7 5 5 4 1 3 9 7 5 1 0 , , , , , , 4 4 4 7 6 5 9 8 7 7 7 7 8 1 5 7 0 9 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 1 1 2 1 4 1 1 0 , , , , , , 1 6 5 3 1 9 6 9 5 6 1 1 3 1 3 6 8 , 8 , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 4 7 6 7 6 3 , , , , , , 9 8 6 5 3 6 5 5 2 5 0 0 8 1 5 7 7 2 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 6 3 1 1 1 1 3 4 4 5 4 9 4 8 9 5 4 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 9 3 2 3 2 3 1 5 6 9 3 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 7 2 1 8 2 5 1 2 0 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 2 1 1 1 1 8 2 8 4 0 3 , , , , , , 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5 b b J J Total: 1926- 89, 994 484, 234,000 416, 099, 000 240, 818, 000 7, 807, 000 1, 029, 000 675, 611 399,000 1925- 85, 530 444, 538, 000 393, 388, 000 230, 685, 000 8, 577, 000 1, 007, 000 1,431, 000 367,000 1924.. 112,493 428,179, 000 386, 503, 000 222, 622, 000 9, 837, 000 1, 054, 000 3, 763,000 358,000 1923.. 167, 312 395,965, 000 352, 748, 000 207,187, 000 12, 449, 000 1, 072, 000 29, 699,000 345,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

AMOUNTS OF ITEMS HANDLED No. 2.—Buffalo.- $944,824,000 $233,305,000 $2, 934,000 $3,199,500,000 $2,205,000 $82, 716,000 $1,376,000 $1,114,321,000 CO No. 4.—Cincinnati _ 146, 717,000 6,473,000 6, 439,975,000 15,889,000 49,900,000 25, 509,000 596,090,000 oo Pittsburgh 424,082,000 4,220,000 11,894,046,000 18,121,000 47, 998,000 58, 473,000 873,775,000 r '•DN No o . . 5 6 . . — — B B a ir l m tim in o g r h e am 553, 642,000 2 5 6 9 6 , , 4 9 1 0 2 2 , , 0 0 0 0 0 0 1 1 1 , , 1 1 2 0 0 0 , , 0 0 0 0 0 0 4 1, , 8 8 9 1 1 3 , , 3 3 9 0 5 , 7 0 , 0 0 0 00 8,2 3 1 6 6 1 , , 0 0 0 0 0 0 1 3 1 0 2 , , 1 2 6 0 2 4 , , 0 0 0 0 0 0 18, 3 7 1 5 6 1 , , 0 0 0 0 0 0 1,3 1 3 3 9 4 , , 6 7 9 4 5 5 , , 0 00 0 0 0 Jacksonville 163,135,000 1, 961,000 3, 367, 831,000 664,000 47,042,000 60,000 386,406,000 Nashville 49, 475,000 371,000 1, 818, 393,000 578,000 35, 622,000 50,000 119,174,000 to New Orleans 336, 591,000 114,639,000 3, 228,000 1, 844, 320,000 3,170,000 35, 067,000 20, 674,000 483, 541,000 No. 7—Detroit 1,160,769,000 506,210,000 4, 466,000 7, 045, 227, 000 10, 797,000 140, 500,000 29, 674,000 3,411,944,000 No. 8.—Little Rock 93,128,000 40, 475,000 863,000 931,168,000 374,000 23, 369,000 456,000 324, 823,000 Louisville 519,474,000 108, 707,000 2, 208,000 2, 470, 758,000 4,166,000 36, 759,000 3, 488,000 655, 958,000 (-* Memphis 134, 662,000 73,193,000 1, 980,000 1,169,247,000 970,000 49, 718,0C0 507,000 499, 265,000 o No. 9.—Helena 2,108,000 17,633,000 570,000 411,795,000 638,000 6, 655,000 35,000 136,723,000 No. 10.—Denver ___ 110,871,000 49,309,000 1, 924,000 1, 896, 810,000 4,048,000 44, 628,000 4, 636,000 794,131,000 Oklahoma City. 26, 503,000 1,408,000 2,476,158,000 972,000 39, 478,0C0 470,000 215,651,000 Omaha 123,547,000 28, 977,000 1, 847,000 1,600,283,000 1,994,000 57, 500,000 915,000 1,144, 383,000 w No. 11.—El Paso 25,968,000 28, 673,000 2, 923,000 364,059,000 310,000 11, 525,000 2,000 164,888,000 Houston 27, 297,000 47, 657,000 1, 450, 000 1,827,216,000 1,134,000 79, 359,000 708,000 1,288,540,000 No. 12.— P L o o r s t l A an n d geles 1 13 1 3 0 , ,5 8 2 9 5 3 , , 0 0 0 0 0 0 2 4 5 8 7 , , 5 8 8 2 3 6 , , 0 0 0 0 0 0 1 9 , , 7 3 6 4 3 5 , , 0 0 0 0 0 0 5 1 , , 0 3 7 5 8 7 , , 0 7 1 5 7 6 , , 0 0 0 0 0 0 3 7 , , 1 3 1 8 4 1 , , 0 0 0 0 0 0 4 5 7 6 , , 5 9 1 4 4 7 , , 0 0 0 0 0 0 3 9 , , 1 7 0 4 9 5 , , 0 0 0 0 00 4, 6 3 5 2 3 0 , , 7 6 6 9 7 6 , , 0 0 0 0 0 0 S Salt Lake City . 55,095,000 29, 443,000 1,135,000 1,063,270,000 1.117,000 44, 354, 000 673,000 489, 252,000 Seattle 133,383,000 78,183,000 2, 259,000 1,168,590,000 2, 512,000 41, 508,000 4,015,000 866,784,000 Spokane 18,409,000 14, 444, 000 707,000 586, 375,000 906,000 17, 720,000 304,000 196,017,000 O Total: 1926.. 4,484,186,000 2, 813, 483,000 66, 255,000 64,716,081,000 89, 637,000 1,138, 245, 000 183,946,000 20, 210, 569,000 1 1 9 9 2 2 4 5 . .. . 2 3 , , 0 5 6 8 4 2 , , 1 2 1 2 2 7 , , 0 0 0 0 0 0 2 2 , , 5 4 8 3 5 5 , , 6 1 3 5 6 , 9 0 , 0 0 0 00 6 60 3 , , 0 5 8 2 2 1 , , 0 0 0 0 0 0 5 6 4 0 , , 7 9 6 8 3 9 , , 8 2 4 2 0 7 , , 0 0 0 0 0 0 9 9 9 4 , , 9 7 2 5 7 4 , , 0 0 0 0 0 0 1, 9 0 7 23 5 , , 2 1 6 4 3 2 , , 0 0 0 0 0 0 2 19 2 5 1 , ,2 2 2 4 5 9 , , 0 0 0 0 0 0 1 18 5 , , 9 5 5 1 3 0 , , 1 5 2 5 1 1 , , 0 0 0 0 0 0 W 1923.. 4, 281,332,000 2, 404, 372,000 55, 574,000 53,197,150,000 107,134,000 1,069,929,000 415,246,000 13, 281, 545, 000 o NOTE.—Currency received and counted during 1926 by agencies of the Federal Reserve Bank of Atlanta: Habana, Cuba, agency, 5,526,000 pieces, amount $67,247,000; Savannah, W Ga., agency, 3,176,000 pieces, amount $12,556,000. Coin received and counted during 1926 by Savannah, Ga., agency, 837,000 pieces, amount $106,000. to Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS to No. 68.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS DURING 1926 EARNINGS Total Boston Y N o e r w k Ph p il h a i d a el- C l l a e n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas San c is F c r o an- Discounted bills. $22, 551, 561) $1, 463, 790 $5, 836, 836 $2, 036, 833 $2, 211, 738 $1, 676,456 $1, 705,117 $3,015,981 $1, 258,227$310,424 $643, 032 $525, 993 $1, 867,134 Purchased bills 10,003,081 1,278,862 2,001,668 661,657 818,378 374,178 1,024,830 1,230,850 340,294; 405,511 507, 513 462, 842 United States securities. _. 12,589,119 401,552 2,379,546 764,324 1,274,279 261,476 228,280 1,929,874 841,145! 723, 348 1, 213, 542 985, 652 1, 586,101 Deficient reserve penalties 382,946'| 7,860 45,386 10,983 30,133 69,214 41,636 50,427 22,0171 16, 473 24, 203 35,403 29, 211 Miscellaneous _ 2,072,888)1 167,013 337,532 152,851 183,356 47,693 46,004 339,911 49,826! 166, 577 289,050 117,159 175,916 Total earnings 47,599,595 3,319,07710,600,968 3,626,648 4,517,884 2,429,017 3,045,867 6,567,043 2,511,509 1,622,333 2,677,340 2,127,049 4,554,: CURRENT EXPENSES Salaries: Bank officers _. ... $2,433, 898 $116, 250 $476, 883 $127, 249 $214, 238 $166, 800 $191,016 $299, 523 $166,072 $135, 681 $156,381 $146, 326 $237, 479 Clerical staff 11, 695, 529 887, 9673, 033, 763 893, 6321,009,990 599, 998 418,096 1, 685, 405 610,045 357, 223 638,490 483, 8101,077,110 Special officers and watchmen 776,936 34, 571 168,176 50, 430 101, 536 44,453 31,426 97, 675 46, 612 25,958 62, 695 33, 580 79, 824 All other 1,837,408 84,896 500, 347 104, 689 225,858 67, 515 38, 253 287, 790 74, 072 80,091 167,432 82, 719 123,746 Governors' conferences 5,575 351 511 267 289 273 255 420 422 568 562 640 1,017 Federal reserve agents' conferences 3,123 221 106 154 197 198 129 230 289 288 296 363 652 Federal Advisory Council 12,153 526 566 414 531 557 892 1,193 1,200 824 1,023 1,227 3,200 Directors' meetings _ 151, 754 6,695 18,101 6,778 7, 085 6,635 24, 602 10, 210 11, 796 7,289 24,601 5,632 22,330 Traveling expenses l 266,114 6,313 34, 601 11,144 17, 910 16,600 32, 994 24, 630 31,029 35, 222 10,165 19,135 26,371 Assessments for Federal Reserve Board expenses _ 721, 724 54,476 199,090 68,636 76, 835 38,060 28, 686 99,230 31,306 22, 596 27, 965 25, 214 49,630 Legal fees. 127,401 4,367 16, 218 8,089 11,716 4,154 9,728 8,513 4,013 30,701 9,856 5,016 15,030 Insurance (other than on currency and security shipments) 392, 799 28,529 57,371 33,894 35, 774 22,282 20,826 42, 082 23, 320 28,246 36,179 25,386 38,910 Insurance on currency and security shipments 619,468 86,389 122,914 91, 794 72,116 33, 742 47, 398 66, 838 16,108 14,091 15,499 21, 553 31, 026 Taxes on banking house 1,369,018 128,205 388,988 33,844 134, 450 38, 798 54, 987 278, 458 53,870 82, 713 81,636 31,292 61, 777 Light, heat, and power 331,802 19, 634 79,117 21, 022 43, 600 8,939 13,600 27,477 21,499 19,762 45, 595 19,231 12,326 Repairs and alterations, banking house. . 201, 359 4,606 32, 337 63, 946 24, 943 11,212 4,234 769 12,819 4,540 29,518 3,298 9,137 Rent _ 238, 753 1,798 25,344 2,367 20,191 10,390 9,485 38,231 19,968 27 1,546 109,406 Office and other supplies _ 391, 708 22, 719 95,830 27, 246 30, 512 17,997 23, 556 61, 721 21, 679 19, 725 24, 315 14,818 31,590 Printing and stationery..- _ 467, 955 42,644 69,120 40,050 44, 015 29,168 31, 565 76, 641 22,922 25,568 28, 742 19,302 38,218 Telephone 191,350 21,098 50,659 25, 558 12, 931 6,021 6,123 20, 698 12, 492 5,816 7,693 7,291 14,970 Telegraph 510,991 8,351 55,826 15,976 36, 441 27, 974 70,499 46,182 42,095 23, 277 61,176 47,193 76,001 Postage 1,780, 244 203,427 286,871 168, 715 160, 796 113,421 104, 296 239, 748 93,529 64,373 132,391 89,896 122,781 Expressage 425, 493 40,050 106, 672 61, 787 27, 633 30, 568 33, 437 51, 446 13, 749 8,437 12,395 16,419 22,900 Miscellaneous expenses 683,206 48,138 172,049 65, 781 53, 056 27,315 32, 767 69, 726 30,118 34,810 48, 022 38,441 62,983 Total, exclusive of cost of currency. 25, 635, 761 i 1,852, 2215, 991, 4601, 923,4622,362,643 1,323,070 1, 228, 8503, 534,8361,361, 0241, 027, 7991, 622, 6541,139,328 2,268,414 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Federal reserve currency, including shipping charges: Original cost 1,602,643 164, 260 407,841 127, 262 Io5, 949 56, 545 148, 763 275, 997 13, 793 33, 597 56,088 35,483 127,065 Cost of redemption _ 111, 778 15,931 22,141 5,550 13,154 4,324 11, 555 13, 604 5,287 2,361 4,186 3,920 9, 765 Total current expenses. 27, 350,182 2,032,412 6, 421,442 2,056, 274 2,531,746 1, 1,389,1681 3,824,437 1, 380,104 1, 063, 757 1,682,928 1,178,731 2,405, 244 PROFIT AND LOSS ACCOUNT Earnings $47,599,595 $3, 319,077 $10,600,968 $3, 626, 648 $,14,,517, 884 $2, 429017 $31,,004455,, 867 $6[,, 5 56677,,043 $2, 511, 509 $1, 622, 333 $2, 677, 340 $2,127,049 $4, 554, 860 Current expenses.. 27,350,182 2,032,412 6,421,442 2,056, 2742, 531,7:6! 1,383,9 _ 3 _ 9 _ 1, 389,168 3, 824, 4.3_7_ 1, 380,104 1,063, 757 1,178,731 2,405,244 Current net earnings 20,249,413 1, 286, 665 4,179,5 1,570,374 I,986,l3bj l,u45,078 1, 656, 699 2, 742, 6061,131, 405 558, 576 994, 412 948,318 2,149, 616 Additions to current net earnings. 330,078 8,531 174,366 1,130 10, 549! 561 12, 794 13,098 15,852 79, 773 5,555 5,919 1,950 Deductions from current net earnings: Bank premises—depreciation 2,096,062 122,048 415,492 290, 414' 254,134 151,341 165,197 154, 795 166, 272 209,309 41,306 125, 754 Furniture and equipment 532,889 15. 593 122,943 28, 697 45,166! 8, 847 24, 313 83,039 54, 870 20, 870 25, Iu2 4,019 99, 430 Reserve for probable losses 1, 210, 486 ! 50,000 261, 663 241,032 253, 500 50,000 354, 291 Reserve for self-insurance 59, 845 59,845 Allother 68,464 682 5,864 9,074 345! 5,013 3,849 12, 513 1,070 3,174 9,087 1,701 16,092 Total deductions 3, 967, 746 138,323 604,144 37, 771 335, 925| 317, 994 441,166 501, 781 464, 235 190,316 243, 498 97,026 595, 567 Net deductions from current net earnings. 3, 637, 668 129,792 429,778 36,641 325, 3761 317, 433 428,372 448, 383 110, 543 237, 943 91,107 593, 617 Net earnings available for dividends, surplus, and franchise tax 16, 611, 745 1,156,873 3,749,748 1, 533, 733 1, 660, 762 727, 645 1, 228, 327 2,253, 923 683,022 448,033 756,469 857, 211 1,555,999 Dividends paid.- 7,329,169 525,023 2,100,191 730, 598 808, 505 363, 95' 296, 573 985, 959 314, 420 187, 609 252, 764 257, 502 506,068 Transferred to surplus account 8,464,426 585,888 1,649,557 803,135 852, 257 279,216 931,754 1,267,964 368, 602 26,043 50,370 599, 709 1,049,931 Franchise tax paid United States Government.. 818,150 45, 962 84, 472 234,381 453,335 REIMBURSABLE EXPENDITURES OF FISCAL AGENCY DEPARTMENT Salaries, employees $101,826 $6, 578 $12,900 $9,012 $14, 648 $6,050 $5,209 $5,014 $11,009 2 $12, 270 $6,921 $8, 629 ' $3, 586 Allother 22, 596 757 2,290 991 4,260 803 897 3,724 809 5,270 994 647 1,154 Total 124,422 7,335 15,190 10,003 18, 908 6,853 6,106 8,738 11,818 17, 540 7, 915 9,276 4,740 i Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. 1 Including officers' salaries as follows; Minneapolis, $3,583; San Francisco, $11, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

128 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 69.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, ALSO DISPOSITION MADE OF NET EARNINGS, 1914-1926 Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds s fe u T r r r r p a e l d n u s s t - o l t U e F a r x . r n a S p m n . a c e G i h d n i o t s v t e l o - o P r f r c o o l a o r f r w i s r t s i a e r ( ( d — d +) ) All Federal reserve banks: 1914-15 $2,173, 252 -$141,459 $217,463 -$358, 922 1916 5,217,998 2,750,998 I 1,742,774 +1,008,224 1917 16,128,339 9,579,607 6,801,726 $1,134, 234 ,134,234 +509,413 1918 67,584,417 52,716,310 I 5,540,684 48,334,341 -1,158, 715 1919. 102, 380, 583 78,367,504 j 5,011,832 70, 651, 778 2, 703,894 1920- 381,296,711 149,294,774 I 5,654,018 82,916,014 60,724,742 1921- 122, 865, 866 82,087,225 6,119,673 15, 993, 086 59, 974,466 1922. 50,498,699 16,497,736 | 6,307,035 -659,904 10,850, 605 1923. 50, 708, 566 12,711,286 6, 552,717 2, 545, 513 3, 613, 056 1924- 38, 340, 449 3, 718,180 6,682,496 -3,077,962 113,646 1925- 41, 800, 706 9,449, 066 6, 915, 958 2,473, 808 59, 300 1926. 47, 599, 595 16,611,745 7,329,169 8,464,426 818,150 Total . 726, 595,181 433, 642, 972 64,875, 545 228, 775,334 139, 992, 093 Boston: 1914-15- 125,459 I -34,603 -34,603 1916 295,935 249, 735 +46, 200 1917. 1, 285,884 740, 359 601, 756 75,100 75,100 -11, 597 1918 i 4,475,195 3,305,180 384,180 2,921,000 1919 7,497,583 5,777,381 I 414,447 5, 362,934 1920- 12,273,253 j 10,272,564 447,266 7,351, 799 2,473,499 1921___ 6,968,662 i 4,281,353 ! 473,109 772, 324 3, 035,920 1922- 3,541,313 ; 1,097,402 481,951 -170,782 786,233 1923 3,506,683 1, 252, 135 480, 267 77,187 694, 681 1924 i 2,559,016 470, 422 477, 798 -7, 376 1925 3,288,546 ! 1.140, 581 502,648 637, 933 1926-. 3, 319, 077 1,156, 873 525, 023 585, 888 45,962 Total. 49,331,559 | 29,755,582 5,038,180 17,606, 007 7, 111, 395 New York: | 1914-15 ! 345,035 i -123,887 -123,887 1916--. i 971,026 ! 414,064 127,113 +286,951 1917 I 4,929,214 j 3,078,481 1,942,819 649,363 649,363 -163, 064 1918 J 25,314,736 j 21,662,917 1,195,026 20, 467, 891 1919 i 35,332,412 27,959,619 1,291,047 23,964,678 2, 703,894 1920 i 60,525,321 \ 53,128,130 1,477,096 12, 332, 523 39,318,511 1921 34,710,274 i 26,093,832 1,608,721 3,782, 671 20,702,440 1922 11,349,279 I 3,721,593 1,652,138 -1,397,603 3,467,058 1923 11,413,183 3,043, 679 1, 749, 239 1924 8,569,350 616,852 1, 796, 530 1925 10,217,174 3,103, 298 1,888,196 1926 10,600,968 3, 749, 748 2,100,191 214, 277,972 146,448,326 113,972 -31,517 -31, 517 448,180 249,941 128,458 +121,483 1,095, 540 753,875 623,603 +130,272 4,357, 740 2, 972,089 583, 983 -220,238 8, 609,880 462,380 6,196, 789 11,848,551 496,679 8,204, 775 363, 662 8,008,095 517,663 935,239 3, 886, 552 4, 251, 950 541,552 803,594 891, 730 4, 592, 771 2,177, 837 582,292 1,178, 588 2, 915, 846 747, 092 615,135 131, 957 3,135,550 1,078,120 673,212 404,908 3,626, 648 1, 533, 733 730, 598 803,135 Digitized for FRASER Kansas City, $208,170; San Francisco, $306,926; total, $3,129,673. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS 129 .—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, ALSO DISPOSITION MADE OF NET EARNINGS, 1914-1926—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds s fe u T r r r r p e a l d n u s s t - o 1 t F U e a r r x . n a S n p m . a c e i h G d n i o t s t e v l o - o P r f r c o o l a o r f r w s i r t s i a e ( ( r — d + d > > Cleveland: 1914 15 $113, 815 -$55, 774 -$55, 774 1916 452,129 293,808 $143,237 +150,571 1917 1,367, 216 753, 682 716,168 +37, 514 1918 5,226, 864 4,135,796 716,107 $3, 552, 000 -132,311. 1919 7,800,829 6,093, 785 556, 785 5, 537, 000 1920 14, 458, 619 11,820,031 604,194 11, 215, 837 1921 9,390,863 6, 284,383 660, 228 2,329,442 $3,294,713 1922 4, 994,282 2,268, 688 692,436 861, 264 714,988 1923 4, 655,090 921, 221 725,626 195, 595 1924 3,770,689 -473,153 756,152 -1,229,305 1925 4,013,456 1, 210, 576 778,811 431, 765 1926 4, 517,884 1,660, 762 808, 505 852,257 Total _ _ 60, 761, 736 34,913,805 7,158, 249 23, 745, 855 4, 009,701 Richmond: 1914-15 319, 580 174, 955 151, 940 +23,015- 1916 334,102 186,571 197,922 -11,351 1917 821,195 462,224 240,944 116,472 116,472 -11,664 1918 2, 979,048 2,312,030 232,432 2,079, 598 1919 4, 775,324 3,877, 266 252,872 3,624,394 1920 6, 902, 643 5, 238, 506 293,052 4, 740,869 204,585 1921 6,729,679 4,393,627 322, 203 693, 792 3,377,632 1922 2,832,944 867,448 333,321 32,954 501,173 1923 2,878,896 1,092, 843 342, 295 384,404 366,144 1924 2,210, 240 379, 791 351,251 28, 540 1925 2,182, 460 576,110 358,162 217, 948 1926 2,429,017 727,645 363,957 279,216 84,472 Total 35,395,128 20,289,016 3,440,351 12,198,187 4,650,478 Atlanta: 1914-15 236,460 82,532 +82,532 1916 279,520 129,307 201,719 -72,412 1917. . 589,789 288,083 218,203 40,000 40,000 -10,120 1918 2,293,058 1, 652,473 182,473 1,470,000 1919. 4,416,001 3.382,397 197,397 3,185,000 1920.-. 7, 476, 431 6,010,324 225,571 3, 648, 465 2,136,288 1921 7,406, 652 5,496,219 245,862 770,106 4,480,251 1922 2,352, 736 672, 730 256,618 -172,018 588,130 1923. 2,682,314 352,179 264,622 8,756 78,801 1924 1,907,121 272, 656 272,656 1925 2,072,378 26,191 276,488 -250,297 1926 3,045, 867 1,228,327 296, 573 931,754 Total 34,758,327 19,593,418 2,638,182 9,631,766 7,323,470 Chicago: 1914-15 268,885 20,091 +20,091 1916 665,937 403,206 361,319 +41,887 1917 2,083,164 1,231, 879 862,259 215,799 215,799 -61,978 1918 8,481, 747 6,805,081 604,635 6,200,446 1919 12,012,078 8,576,204 700,807 7,875,397 1920 30,303,218 25, 875, 749 792, 769 14, 688,500 10,394,480 1921 20,382,170 14, 505,117 853, 785 2,075,323 11.576,009 1922 6, 748,863 1, 405, 215 876,203 -657,289 1,186,301 1923 6,511,359 1,178,355 904.371 27,398 246.586 1924 5,202,169 909,123 909,123 1925 5 424 663 1,121,273 934,016 187,257 1926 6, 567.043 2,253, 923 985,959 1,267,964 Total 104 651,296 64,285,216 8,785,246 31,880,795 ! 23,619,175 i See note on p. 128. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

130 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 69.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, ALSO DISPOSITION MADE OF NET EARNINGS, 1914-1926—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds s fe u T r r r r p e a l d n u s s t - o 1 t U e F a r x r . n a S m p n . a c e i h G n d i o t s t e v o ! - o P r f r c o o l a o r f r w i s r t s i a e ( r ( d — + d ) ) St. Louis: 1914-15 $86,833 -$97,169 -$97,169 1916 297, 948 141,017 $31,100 +109,917 1917 773,106 502,156 284,566 +217, 590 1918 2,676,828 1,777,810 404,838 $1,603,310 -230,338 1919 3, 884,478 2,355,154 234, 660 2,120,494 1920 7,180.117 4,875, 566 253,711 4,621,855 1921 5.166, 315 2,951,926 270,253 1,042,564 $1,639,109 1922 2,456. 447 647, 572 283,166 276,450 87, 956 1923 2, 753,435 1,182,163 296,810 407,070 478,283 1924 1,688,143 203,937 304, 976 -101,039 1925 2,055, 637 -93, 540 306,753 -400,293 1926 2,511,509 683,022 314,420 368,602 Total 31,530 796 1 F>. 129. 614 2, 985,253 9,939,013 2,205,348 Minneapolis: 1914-15 100,112 -32,341 -32,341 1916 255,177 134,603 57,720 +76,883 1917 672, 799 394,353 363,895 37,500 37,500 -44,542 1918 2,049,954 1,545,847 168,103 1,377, 744 1919 3,007,041 2,333,943 180,186 2,153,757 1920 - 5,307,381 4,131,053 195,871 3,410,948 524,234 1921 4,9.66,311 3,151,154 211,657 488, 530 2,450,967 1922 _ 1,969,248 782,695 213,774 4,469 564,452 1923 1,749,253 325,455 212, 733 11, 272 101,450 1924 1,609,070 329,102 202,828 12,628 113,646 1925 _ 1,438, 341 234,954 193,560 4,139 37,255 1926 1, 622, 333 448, 033 187,609 26,043 234,381 Total 24, 747, 020 13, 778,851 2,187,936 7,527, 030 4,063,885 Kansas City: 1914-15 102,474 -66, 776 -66,776 1916 380, 208 224,989 66, 707 +158,282 1917 1,002,660 566,404 364,503 +201,901 1918 3, *51,i>36 2,437, 748 309, 729 2,421,426 -293,407 1919. 4,961,482 3,923,362 228,755 3,694,607 1920 7,409,987 5, 540,681 257,672 3,042,781 2,240,228 1921 5, 712,858 3, 056,096 268,620 486,918 2,300, 558 1922 3,094,660 783,036 275,655 -157,432 664,813 1923 2,993, 919 347,711 275, 313 7,240 65.158 i924 2,262,910 -253,182 265,697 -518,879 1925. 2,309,985 282,921 258,426 2,450 22,045 1926 2, 677,340 756,469 252,764 50,370 453,335 Total 36,360,419 17,599,459 2,823,841 9,029,481 5,746,137 Dallas: 1914-15 244,666 75,388 65, 523 +9,865 1916 326,372 166,046 134,008 +32,038 1917 __ 621,970 352,067 188, 234 +163,833 1918 2,089, 526 1,240,175 261, 503 1,184,408 -205,736 1919 3,062,251 2,041, 864 196,335 1,845,529 1920 4,904,522 3,228,231 225,424 3,002,807 1921- 4,239,574 1,613,564 252,211 1,361,353 1922 2,085, 775 354,125 251,915 102, 210 1923 _ 2,356,436 332, 282 251,429 80,853 1924- 2,157,964 265,024 249, 789 15,235 1925 1, 813,626 278,135 255,239 22,896 1926 2,127,049 857,211 257, 502 599,709 Total 26,029,731 | 10,804,112 2,589,112 8,215,000 i See note on p. 128. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS 131 No. 69.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, ALSO DISPOSITION MADE OF NET EARNINGS, 1914-1926—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds f s e T u r r r r e p a d n lu s t s - o l t U e F a r x . r n a S m p n . a c e G i h n d i o t s t v e ! o - o P r r f c o o l a o r f r w i s r t s i a e ( r ( d + d — ) ) San Francisco: 1914-15 $115,961 -$52,358 -$52,358 1916 316,511 111,511 $43,736 +67,775 1917.. 885,802 456,044 394, 776 +61,268 1918 4,187, 785 2,869,164 497, 675 $2,448,174 -76,685 1919 7,021,224 5,387,360 2y6,161 5,091,199 1920 .. 12, 706, 668 10,108,823 384, 713 6, 654,855 $3, 069, 255 1921 9,184,413 4,920, 500 435,361 1, 254,824 3, 230,315 1922 4,821, 202 1,660,356 448,306 -185, 721 1, 397, 771 1923 4,615, 227 505,426 467, 720 37,706 1924 3,487,931 250, 516 480, 561 -230, 045 1925.. 3,848,890 490,447 490, ^47 1926 4,554,860 1, 555,999 506,068 1,049,931 Total 55,746,474 28, 263,788 4,445, 524 16,120,923 7, 697,341 1 See note on p. 128. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANK PREMISES CO fcO No. 70.—COST OF BANK PREMISES OF FEDERAL RESERVE BANKS TO DECEMBER 31, 1926 NEW BUILDINGS CONSTRUCTED BY FEDERAL RESERVE BANKS Cost of buildings 2 Cost of Buildings, Feder o al r r b e r s a e n rv ch e bank d c e b l l u m a u d n i o n l i d d l n e , i i g t s n i h n o g e - l s d d , o e f a c i x f x n h c e v d i l n d a u m e u s m r i l i y v t s a s , e - - , a i e n r l M x c a c p h n l i e u s e i n t c d o e s e u i c e l n s - t s g ' , s V st a r u u l c t t i c o o n n- equ V ip a m ult ent a F n c ix d h m e i n e d e e q n r u m y t ip a- -o T f o b t u a i l l d co i s n t gs o T b f o u l t i a a l n l d d i c n o a g s n s t d D c e h t p a i r r o g e n e c s ia- Book n e v t alue, Remarks n cellaneous fees expenses Boston $1, 246, 726 $2, 561, 954 $220,062 $760,587 $662,157 $4,204,760 $5,451,486 $1, 505,406 $3,946,080 Occupied March, 1922. New York: Main building._. 4, 850, 210 8, 861, 291 1,926,088 320,320 $778,138 2,819,733 14, 705,570 19, 555,780 5,006,768 14, 549,012 Occupied October, 1924. W Annex building. 592, 679 1, 268, 032 200, 582 3,715 315 194,344 1, 666, 988 2, 259,667 582,424 1,677, 243 Occupied by tenants. Cleveland 1, 295,490 4, 591, 964 910, 669 538,827 593, 980 1,423,366 8,058,806 9,354,296 3,064,587 6,289,709 Occupied August, 1923. Richmond 202,025 1,603,064 128, 861 17,126 282,393 410,409 2,441, 853 2,643, 878 901,831 1, 742,047 Occupied October, 1921. Atlanta 283,000 1,023, 279 95,062 63,108 174,037 175, 279 1,530, 765 1,813, 765 506, 687 1,307,078 Occupied October, 1918. Birmingham 124,137 186,062 18,026 23, 550 42,360 42, 508 312, 506 2 436, 643 75, 505 361,138 t Jacksonville 45,842 162, 335 13, 748 10,791 24,104 25,956 236, 934 282, 776 67, 072 215,704 Occupied June, 1924. New Orleans 201,250 565, 551 70, 095 49,347 53,410 157, 580 895,983 1,097,233 313,736 783,497 Occupied October, 1923. Chicago 2, 963, 548 4, 789, 529 356, 840 436.821 633, 915 1, 276, 579 7,493,684 10,457,232 3,339,033 7,118,199 Occupied July, 1922. St. Louis 1, 355,374 1, 722, 345 243,325 138,374 74,822 1, 058, 979 3, 237,845 4, 593,219 1, 277, 111 3,316,108 Occupied June, 1925. Little Rock 85,007 165, 529 23,736 31,931 14, 348 101,143 336, 687 421,694 59,332 362,362 Occupied March, 1925. Minneapolis 600, 521 1, 730, 065 362,930 323,750 0) 520,054 2, 936, 799 3, 537,320 841,230 2, 696,090 Occupied February, 1925. Kansas City_._ 495,300 2, 815, 078 243,947 96,381 235,695 777,940 4,169,041 4, 664,341 1,643, 285 3,021,056 Occupied November, 1921. D O e k n la v h e o r ma City 10 6 1 5 , , 0 5 2 1 1 2 3 3 0 0 2 4 , , 0 0 5 9 1 5 3 2 4 9 , , 3 5 9 2 5 3 4 3 6 2 , , 0 9 6 0 7 0 6 4 7 3 , , 2 5 3 0 5 0 5 67 0 , , 4 8 6 6 1 6 5 47 0 7 0 , , 3 7 3 5 7 6 6 5 0 4 1 2 , , 8 7 4 7 9 7 1 1 2 3 1 3 , , 1 9 4 1 2 3 4 4 8 0 0 8 , , 8 7 6 0 4 7 O O c c c c u u p p i i e e d d A N p o r v i e l, m 19 b 2 e 3 r . , - 1925. 5 Omaha 176,427 255, 391 31, 562 45,480 65, 505 65,287 463,225 639,652 91, 343 548,309 Occupied December, 1925. Dallas 181,120 909, 564 94, 874 32, 532 132, 280 325,457 1,494, 707 1,675,827 388,638 1,287,189 Occupied March, 1921. El Paso 39,003 73, 618 4,867 3,410 29,924 10,374 122,193 161,196 33,366 127,830 Occupied August, 1920. Houston 66,312 235, 722 18,176 15,065 18,810 59,667 347,440 413, 752 74, 218 339,534 Occupied February, 1922. San Francisco 412, 996 2,631,987 335,942 114,590 136,135 700,661 3, 919,315 4,332,311 1,340, 791 2,991,520 Occupied December, 1923. Salt Lake City 114, 075 190, 287 32,753 32,062 9,971 40,732 305,805 3 419,880 14,075 405,805 Total I 15,497,575 36,948,793 5,396,063 3,136, 734 3,410,877 10,966,532 59,858, 999 75,356, 574 21,381,493 53,975,081 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUILDINGS PURCHASED BY FEDERAL RESERVE BANKS AND NOW OCCUPIED AS BANK QUARTERS (Amounts shown under " Cost of land" represent appraised value of land—remainder of actual cost included in " Cost of buildings") New York (No. 10, Gold Street).__ 40,000 59,887 671 3,004 63, 562 103, 562 53,562 50,000 Occupied November, 1921. Philadelphia 799,652 925,912 116,877 967,084 0) 327,394 2,337, 267 * 3,136,919 1,433,006 1, 703, 913 Occupied December, 1917. Pittsburgh 297,000 256,088 33,657 94,765 175, 950 138,994 699,454 996,454 167, 578 828, 876 Occupied February, 1920. Baltimore * 120,000 81,023 81, 023 201,023 21,023 180,000 Occupied March, 1918. Nashville 48,000 159, 910 11, 664 11,988 28,055 25,100 236, 717 284,717 88,152 196,565 Occupied December, 1922 Louisville. 131,177 172, 547 12,236 26,399 16,487 33,650 261,319 392,496 113,639 278,857 Occupied June, 1919 Helena--- 5,000 67, 568 12, 876 9,266 66,580 16,109 172, 399 177,399 99,794 77, 605 Occupied February, 1921. 1,440,829 1,722,935 187, 981 1,109,502 287. 072 544, 251 3,851, 741 5,292, 570 1, 976,754 3,315, 816 BUILDING SITES Baltimore . 250,487 345 345 250,832 63,343 187,489 Detroit 650,000 1, ?00 1, 500 651, 500 651, 500 Total 900,487 1,845 1,845 902,332 63,343 838, 989 Grand total. 17, 838, 891 38,671, 728 5, 585, 889 4, 246,236 3, 697, 949 11, 510, 783 63, 712,585 81,551, 476 23,421, 590 58,129,886 1 Included in cost of vault construction. 3 Estimated cost to complete, $119,000. * Will be sold on completion of new building. 2 Estimated cost to complete, $26,851. 4 Estimated cost to complete addition, $15,803. No bank buildings or sites therefor have been acquired for the following branches and agencies: Branches—Memphis, Los Angeles, Portland, Seattle, Spokane; agencies- Savannah, Habana. The site purchased in 1920 for a proposed building for the Cincinnati branch has been leased to the Cincinnati Chamber of Commerce for 99 years, with an option to purchase. Space for the Cincinnati branch is to be provided in the building under construction for the chamber of commerce. A bank building has been purchased for use of the Buffalo branch, possession of which is expected to be had late in 1927. CO CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBER BANKS 00 No. 71.—ALL BANKS IN THE UNITED STATES: RESOURCES AND LIABILITIES, 1914-1926 [Figures are for the end of June or dates nearest thereto for which information is available] [In millions of dollars] 3 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 t-1 Loans and discounts . 15,260 15, 694 17, 858 20,567 22,449 24,878 30, 650 28, 555 27, 548 30,080 31,131 33, 570 35,854 Overdrafts _ _ 38 22 23 33 44 53 55 32 32 34 33 29 29 Investments 5,578 5,874 6,787 7,992 9,726 12,211 11,367 11,360 12, 525 13,644 14,198 15,368 15, 781 Total loans and investments. 20, 876 21,590 24, 668 28, 592 32,219 37,142 42,072 39,947 40,105 43, 758 45,362 48,967 51, 664 Banking house, furniture, and fixtures 609 636 609 708 736 773 861 991 1,076 1,173 1,292 1,397 1,487 Other real estate owned _ 130 156 216 153 171 161 137 153 197 254 293 334 357 Due from banks * 2,862 3,220 4,008 4,756 5,080 5,805 5,788 4,766 5,396 5,572 6,093 6,739 6, 730 Exchanges for clearing house (2) 307 488 486 359 831 847 1,047 929 645 1,116 1,224 1,110 Checks and other cash items 518 69 279 271 321 586 600 238 642 548 871 951 923 Cash on hand 1,629 1,447 1,471 1,486 882 980 1,046 925 813 777 892 929 974 Other resources 270 296 421 535 753 1,050 1,373 1,286 990 1,037 935 1,219 1,342 Total resources 26,894 27, 721 32,160 36,987 • 40,521 47,328 52, 724 49, 353 50,148 53, 764 56,854 61,760 64, 587 Capital stock paid in. . 2,123 2,154 2,185 2,262 2,336 2,417 2,683 2,868 2,908 3,015 3,073 3,140 3,241 Surplus 1,712 1,730 1,846 1,942 2,030 2,179 2,402 2,534 2,691 2,793 2,960 3,165 3,462 Undivided profits, less expenses and taxes paid 561 639 563 672 682 819 971 907 927 962 979 1,062 1,121 National bank notes outstanding 722 722 676 660 681 677 688 704 725 719 729 648 650 Due to banks 2,693 2,768 3,452 3,903 3,568 3,857 3,662 2,766 3,219 3,589 3,906 4,356 4,318 Individual deposits 3 18, 546 19,150 22, 794 26,295 27,824 33,117 37,609 35,300 37, 598 40, 227 43,442 47, 285 49,341 United States deposits *66 * 48 ^ 39 i 133 * 1,036 4 565 4 174 386 127 237 149 145 186 Total deposits . -_ _ 21, 305 21,966 26,285 30, 331 32,428 37,539 41, 445 38, 452 40,944 44,053 47, 497 51. 786 53, 845 Notes ami bills rediscounted 38 58 53 167 681 659 1,498 1,267 433 535 324 326 382 Bills payable (including certificates of deposit representing money borrowed) 194 167 113 317 707 1,637 1,783 1,373 629 774 467 595 640 Other liabilities 239 285 439 636 976 1,401 1,254 1,248 891 913 825 1,038 1,246 i Total liabilities 26,894 27, 721 32,160 36,987 40, 521 47, 328 52, 724 49,353 50,148 53, 764 56,854 61,760 64,587 Number of banks.._ 26, 714 27,011 27,460 27,867 28,819 29,064 30,078 30, 748 30,325 30,112 29,281 28,773 28,081 1 Includes lawful reserve with Federal reserve banks and other reserve agents. 3 Includes certified and cashiers' checks. * Included in "Checks and other cash items." * For national banks only. NOTE.—Figures derived from annual reoorts of the ComDtroller of the Currencv. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBER BANKS 135 No. 72.—ALL BANKS IN THE UNITED STATES: LOANS AND INVESTMENTS ON CALL DATES, BY FEDERAL RESERVE DISTRICTS, 1923-1926 [In millions of dollars} All banks—loans and Member banks—loans Nonmember banks— investments and investments loans and investments Call date Invest- Invest- Invest- Total Loans ments Total Loans ments Total Loans ments -UNITED STATES: 1923—June 30- 43,905 30,189 13, 716 26, 675 18,880 7,795 17, 230 11,309 5,921 Sept. 14. 43,920 30, 350 13, 570 26,497 18, 857 7,640 17,423 11,493 5,930 Dec. 31.. 44,254 30, 646 13, 608 26, 738 19,052 7,686 17, 516 11, 594 5,922 1924—Mar. 31. 44, 622 30, 978 13, 644 26,832 19, 176 7, 656 I 17, 790 11,802 5,988 June 30- 45,275 31,218 14,081 27,262 19,264 7,998 ! 18,013 11, 954 6,059 Oct. 10.- 46, 588 31,832 14, 756 28, 451 19, 820 8, 631 j 18,137 12,012 6,125 Dec. 31_. 47,464 32, 339 15,125 29, 027 20, 182 8, 845 I 18, 43712,157 6,280 1925—Apr. 6... 48,150 32, 856 15, 294 29,285 ! 20,390 8,895 | 18,865 12, 466 6,399 June 30- 49,014 33, 657 15, 357 29,702 i! 20,814 8,888 ! 19,312 12, 843 6,469 Sept.28. 50, 019 34, 621 15, 398 30,369 !| 21,450 8, 919 ! 19, 65013,171 6,479 Dec. 31.. 50, 919 35, 533 15, 386 31,199 i| 22,275 19,720 13, 258 6,462 1926—Apr. 12.. 51, 081 35, 530 15, 551 31,070 22,006 9,064 20,011 13, 524 6,487 June 30.. 51, 761 35, 958 15, 803 31, 391 22,267 9,124 20, 370 13, 691 6,679 Dec. 31.. 52,147 36, 465 15,682 31,896 22,906 8,990 20, 251 13, 559 6,692 BOSTON DISTRICT: 1923—June 30 4,967 li 3,083 1,884 2,051 I 1,463 588 2,916 1,620 1,296 Sept. 14... _. 4,998 ! 3,118 1,880 2,062 11 1,481 581 2,936 1,637 1,299 Dec. 31 5,021 | 3,146 1,875 2,049 1, 471 578 2,972 1,675 1,297 1924—Mar. 31 5,031 3, 155 1,876 2,026 1,458 568 3,005 1,697 1,308 June 30 j 5,147 3,227 1,920 2,060 1,450 610 3,087 .,777 1,310 Oct. 10 ! 5,302 3,347 1,955 2,172 1,536 636 3,130 ,811 1,319 Dec. 31 i 5,323 j 3,371 1,952 j 2, 172 1,542 630 3,151 1,322 1925—Apr. 6 j 5,476 3,487 1,989 ! 2,207 1,580 627 3,269 ,907 1,362 June 30 1 5,541 3,548 1,993 ! 2,252 1,620 632 3,289 ,928 1,361 Sept. 28 i 5,664 3,666 1, 998 ! 2,325 1,690 635 3,339 :,976 1,363 Dec. 31 I 5,738 3,716 2,022 j 2,395 1,726 669 3,343 1,353 1926—Apr. 12.. 5,788 3,700 2,088 ! 2,391 1,686 705 3,397 2,014 1,383 June 30.. 5,908 3,796 2,112 2, 426 1,707 719 3,482 2,089 1,393 Dec. 31.. 5,970 3,847 2,123 ! 2, 458 1,738 720 3,512 2,109 1,403 "NEW YORK DISTRICT: 1923—June 30 12, 335 7,874 4,461 ( 7,597 5,114 2,483 4,738 2,760 1,978 Sept. 14 12,129 7,769 4, 360 I 7,408 5,015 2,393 4,721 2,754 1,967 Dec. 31 12, 442 8,040 4, 402 j 7,656 5,225 2,431 4,786 2,815 1,971 I 1924—Mar. 31. 12, 631 8,229 4,402 7,693 5,278 2,415 4,938 2,951 1,987 June 30.. 13,237 8,540 4,697 8,121 5,452 2,669 5,116 3,088 2,028 Oct. 10-. 13, 729 8,768 4,961 8,554 5,625 2,929 5,175 3,143 2,032 Dec. 31.. 14,205 9,119 5,086 5,901 2,948 5,356 3,218 2,138 1925—Apr. 6.... 14, 038 9,051 4,987 8,638 5, 771 2,867 5,400 3,280 2,120 June 30— 14, 521 9,479 5,042 5, 970 2,899 5,652 3,509 2,143 Sept. 28.. 14, 669 9,682 4,987 8,957 6,104 2,853 5,712 3,578 2,134 Dec. 31.. 15,144 10, 251 4,893 9,516 6,726 2,790 5,628 3,525 2,103 1926—Apr. 12.. 14, 993 10, 110 4,883 | 9,213 2, 833 i 5, 780 3,730 2,050 June 30- 15, 533 10, 478 5,055 I 9,477 6^ 567 2, 910 6, 056 3,911 2,145 Dec. 31.. 15, 792 10, 849 4,943 i 9, 849 I 7, 044 2, 805 5, 943 3,805 2,138 i I NOTE.—Figures for member banks derived from call reports made to the Comptroller of the Currency :and the Federal Reserve Board. Figures for nonmember banks, derived from reports of State banking authorities, are for dates indicated or those nearest thereto for which figures are available. The figures in :this table differ in some cases from corresponding figures in Table No. 71, chiefly because: (1) Table No. 71 includes figures for certain private banks that report annually to the Comptroller of the Currency, but not to the State authorities on whose reports this table is based; and (2) there are certain differences in the .definitions of loans and of investments that it has not been possible to eliminate entirely. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

136 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 12.—ALL BANKS IN THE UNITED STATES: LOANS AND INVESTMENTS ON CALL DATES, BY FEDERAL RESERVE DISTRICTS, 1923-1926—Continued [In millions of dollars] All banks—loans and I Member banks—loans Nonmember banksinvestments and investments loans and investments Call date Invest- Total Loans ments ments PHILADELPHIA DISTRICT: 1923—June 30 3,198 1,808 1,390 1,966 1,176 790 1,232 632 | 600 Sept. 14 3,222 1,874 1,348 1,971 1,195 776 1,251 679 I 572 Dec. 31 3,228 1,881 1,347 1,973 1,192 781 1,255 689 566 1924—Mar. 31 3,284 1,933 1,351 1,994 1,220 774 1,290 713 577 June 30 3,336 1,940 1,396 2,033 1,241 792 1,303 699 604 Oct. 10 3,452 2,020 1,432 2,139 1,287 852 1,313 733 580 Dec. 31 3,513 2,043 1,470 2,170 1,289 1,343 754 589 1925—Apr. 6 3,630 2,142 1,488 2,232 1,352 1,398 790 June 30... _. 3,654 2,159 1,495 2,251 1,382 1,403 777 Sept. 28 3,759 2,294 1,465 2,312 1,450 1,447 844 603 Dec. 31 3,815 2,368 1,447 2,341 1,489 852 1,474 595 1926—Apr. 12 3,903 2,445 1,458 2,412 1,552 860 1,491 598 June 30 3,923 2,438 1,485 2,423 1,578 845 1,500 640 Dec. 31.. 4,038 2,551 1,487 2,482 1,620 1,556 931 625 CLEVELAND DISTRICT: 1923—June 30 3,912 2,596 1,316 2,749 1,840 909 1,163 756 407 Sept. 14 3,930 2,601 1,329 2,749 1,831 918 1,181 770 411 Dec. 31 3,927 2,622 1,305 2,742 1,843 1,185 779 406 1924—Mar. 31 4,010 1,342 2,799 1,864 1,211 804 407 June 30 4,062 2,680 1,382 2,839 1,877 1,223 803 42a D O e c c t . . 1 3 0 1 4 4 , , 1 1 7 7 7 3 2 2 , , 7 7 1 2 4 9 1 1 , , 4 4 5 4 9 8 2 2, , 9 9 3 4 4 1 1 1 , , 9 9 0 0 0 3 1 1 , , 0 0 3 4 1 1 1 1 , , 2 2 3 4 2 3 8 8 2 1 6 4 4 41 1 8 7 . 1925—Apr. 6 4,278 2,828 1,450 3,007 1,978 1,029 1,271 850 421 June 30.. 4,322 2,879 1,443 3,033 2,016 1,017 1,289 863 426 Sept. 28 4,409 2,964 1,445 3,098 2,071 1,027 1,311 418. Dec. 31 4,374 2,963 1,411 3,061 2,064 997 1,313 414 1926—Apr. 12 4,472 3,043 1,429 3,131 2,117 1,014 1,341 926 415 June 30 4,494 3,044 1,450 3,167 2,141 1,026 1,327 903 424 Dec. 31 4,488 3,075 1,413 3,139 2,150 1,349 925 424 RICHMOND DISTRICT: 1923—June 30 2,206 1,677 529 1,188 925 263 1,018 752 266 Sept. 14 2,224 1,695 529 1,199 934 265 1,025 761 264 Dec. 31 2,230 1,715 515 1,210 950 260 1,020 765 255 1924—Mar. 31 2,246 1,734 512 1,217 959 258 1,029 254 June 30 2,242 1,742 500 1,198 954 244 1,044 788 256 Oct. 10 2,272 1,751 521 1,220 959 261 1,052 792 260 Dec. 31 2,281 1,748 533 1,228 1,053 788 265 1925—Apr. 6 2,320 1,779 541 1, 250 270 1,070 799 271 June 30 2,337 1,804 533 1,256 265 1,081 813 268- Sept. 28 2,380 1,850 530 1,281 1,019 262 1,099 831 268 Dec. 31 2,399 1,866 533 1,297 1,033 264 1,102 833 269 1926—Apr. 12 2,410 1,873 537 1, 298 1,030 268 1,112 843 269 June 30-- 2,402 1,866 536 1,282 1,017 265 1,120 849 271 Dec. 31 2,398 1,868 530 1,278 1,014 264 1,120 854 266 ATLANTA DISTRICT: 1923—June 30. 1,412 1,166 246 922 738 184 490 428 62 Sept. 14 __ 1,429 1,179 250 926 740 186 503 439 64 Dec. 31 | 1,497 1,244 253 798 187 512 446 66 1924—Mar. 31 1,493 3,243 250 970 787 183 523 456 67 June 30 1,457 1,221 236 937 764 173 520 457 63 Oct. 10 1,477 1,237 240 957 780 177 52Q 457 63 Dec. ZX 1,536 1,284 252 1,000 816 184 536 468 68 1925—Apr. 6 1,652 1,373 279 1,061 862 199 591 511 80 June 30 1,700 1,413 287 1,085 878 207 615 535 80 Sept. 28. 1,889 1,565 324 1,201 963 238 688 602 86 Dec. 31 2,002 1,652 350 1,250 1,000 250 752 652 100 1926—Apr. 12... 1,995 1,638 357 1,241 992 249 754 646 108 June 30 1,850 1,519 331 1,173 940 233 677 579 Dec. 31 1,792 1,462 330 1,163 932 231 629 530 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBEE BANKS 137 No. 72.—ALL BANKS IN THE UNITED STATES: LOANS AND INVESTMENTS ON CALL DATES, BY FEDERAL RESERVE DISTRICTS, 1923-1926—Continued [In millions of dollars] All banks—loans and Member banks—loans' Nonmember banksinvestments and investments loans and investments Call date Total Loans Invest- Total Loans ments Total Loans I m n e ve n s t t s - CHICAGO DISTRICT: 1923—June 3.0. 6,183 4,458 1,725 3,915 2,885 1,030 2,268 1,573 695 Sept. 14 6,179 4,460 1,719 3,906 2,891 1,015 2,273 1,569 704 6,200 4,471 1,729 3,909 2,878 1,031 2,291 1,593 698 Dec. 31 1924—Mar. 31 6,271 4,522 1,749 3,940 2,922 1,018 2,331 1,600 731 June 30 6,328 4,519 1,809 4,014 2,952 1,062 2,314 1,567 747 Oct. 10 6,539 4,593 1,946 4,227 3,079 1,148 2,312 1,514 798 Dec. 31 6,572 4,600 1,972 4,220 3,039 1,181 2,352 1,561 791 1925—Apr. 6. 6,723 4,690 2,033 4,290 3,082 1,208 2,433 1,608 825 June 30 6,846 4,822 2,024 4,382 3,190 1,192 2,464 1,632 832 Sept. 28 6,936 4,890 2,046 4,443 3,252 1,191 2,493 1,638 855 Dec. 31 7,011 4,949 2,062 4,491 3,284 1,207 2,520 1,665 855 1926—Apr. 12 7,062 4,979 2,083 4,503 3,295 1,208 2,559 1,684 875 June 30. _. 7,189 5,063 2,126 4,582 3,377 1,205 2,607 1,686 921 Dec. 31 __. 7,183 5,102 2,081 4,552 3,398 1,154 2,631 1,704 927 ST. LOUIS DISTRICT: 1923—June 30 . 1,888 1,429 459 1,160 820 340 728 609 119 Sept. 14 1,915 1,459 456 1,177 844 333 738 615 123 Dec. 31... 1,913 1,464 449 1,188 854 | 334 725 610 115 1924—Mar. 31 1,899 1,461 438 1,181 856 325 718 605 113 June 30 1,883 1,456 427 1,162 844 318 721 612 109 Oct. 10.. 1,908 1,485 423 1,187 874 313 721 611 110 Dec. 31 1,940 1,476 464 1,226 885 341 714 591 123 1925—Apr. 6 1,951 1,479 472 1,249 357 702 587 115 June 30 1,986 1,495 491 1,230 878 352 756 617 139 Sept. 28 2,044 1,549 495 1,283 930 353 761 619 142 Dec. 31... 2,069 1,564 505 1,312 951 361 757 613 144 1926—Apr. 12 2,074 1, 567 507 1,335 972 739 595 144 June 30.. 2,077 1,567 510 1,320 952 368 757 615 142 Dec. 31 2,052 1,535 517 1,314 948 738 587 151 MINNEAPOLIS DISTRICT: 1923—June 30.__ 1,666 1,327 339 897 691 206 769 636 133 Sept. 14.. 1,660 1,323 337 889 684 205 771 639 132 Dec. 31 1,605 1,258 347 864 656 208 741 602 139 1924—Mar. 31 1,552 1,201 351 854 640 214 561 137 June 30 1,488 1,142 346 825 611 214 531 132 Oct. 10. 1,530 1,145 385 867 629 238 663 516 147 Dec. 31 1,564 1,132 432 907 631 276 657 501 156 1925—Apr. 6. 1,574 1,108 466 907 612 295 667 496 171 June30__ 1,571 1,099 472 597 291 I 683 502 181 Sept. 28.. 1,586 1,104 482 600 296 690 504 186 Dec. 31 1,567 1,070 497 586 307 I 674 484 190 1926—Apr. 12. 1,565 1,051 514 576 314 ! 675 475 200 June30._ 1,549 1,031 518 881 568 313 j 463 205 Dec. 31 1,495 987 508 862 554 308 433 200 KANSAS CITY DISTRICT: 1923—June 30. .... 1,883 1,547 336 1,148 262 735 661 74 Sept. 14 1,877 1,543 334 1,133 873 260 744 670 74 Dec. 31 1,827 1,496 331 1,098 249 729 647 82 1924—Mar. 31 1,773 1,457 316 1,059 236 714 634 80 June 30... 1,739 1,423 316 1,040 800 240 699 623 76 Oct. 10 1,744 1,407 337 1,059 795 264 685 612 73 Dec. 31 _. 1,784 1,421 363 1,081 801 280 703 620 83 1925—Apr. 6 1,819 1,430 389 1,117 812 305 702 618 84 June 30 1,824 1,429 395 1,116 805 311 708 624 84 Sept. 28 1,846 1,440 406 1,137 817 320 709 623 86 Dec. 31 1,849 1,432 417 1,133 805 328 716 627 89 1926—Apr. 12 1,840 1,411 429 1,139 794 345 701 617 84 June 30 . .. 1,848 1,417 431 1,157 811 346 691 606 Dec. 31 1,828 1,374 454 1,136 777 359 692 597 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

138 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 72.—ALL BANKS IN THE UNITED STATES: LOANS AND INVESTMENTS ON CALL DATES, BY FEDERAL RESERVE DISTRICTS, 1923-1926—Continued [In millions of dollars] All banks—loans and Member banks—loans Nonmcmber banks— investments and investments loans and investments Call date Total Loans I m nv e e n s t t s - Total Loans I m nv e e n s t t s - Total Loans I m nv e e n s ts t- DALLAS DISTRICT: 1923—June 30 954 792 162 746 601 145 208 191 17 Sept. 14 . 992 ' 830 781 637 144 211 193 18 Dec. 31 1,018 831 812 650 162 206 181 25 1924—Mar. 31.. 1 010 833 177 777 629 148 233 204 29- June 30 963 801 162 733 597 136 230 204 26 Oct. 10 997 829 168 767 625 142 230 204 Dec. 31 1,018 847 171 791 646 145 227 201 26 1925—Apr. 6. 1,044 852 192 814 651 163 230 201 29 June 30 1 016 837 179 792 638 154 224 199 2a Sept. 28 1, 049 865 184 823 664 159 226 201 25 Dec. 31 1,071 875 196 833 668 165 238 207 31 1926—Apr. 12... 1,063 867 196 833 668 165 230 199 31 June 30 1,044 855 189 808 650 158 236 205 31 Dec. 31 1,030 j 841 189 808 652 156 222 189 35 SAN FRANCISCO DISTRICT: 1923—June 30 _ . 3,301 2,432 869 2.336 1,741 595 965 691 274 Sept. 14 3,365 2,499 866 2,296 1,732 564 1,069 767 302 Dec. 31 3,346 2,478 868 2,252 1,686 566 1,094 792 302 j 1924—Mar. 31... . 3,422 2,542 880 2,322 1,740 582 1,100 802 298 June 30 3 393 2 527 866 2 300 1,722 578 1,093 805 288 Oct. 10 3 465 2,536 929 2,361 1,731 630 1,104 805 299 Dec. 31 3,551 2,569 982 2,449 1,769 680 1,102 800 302 1925—Apr. 6 3,645 2,637 1,008 2,513 1,818 695 1,132 819 313 June 30 3 696 2,693 1,003 2,548 1,849 699 1,148 844 304 Sept. 28 3 788 2,752 1,036 2,613 1,890 723 1,175 862 313 Dec. 31 3,880 2,827 1,053 2,677 1,943 734 1,203 884 319 1926—Apr. 12 3,916 2,846 , 1,070 2, 684 1,944 740 1,232 902 330 June 30 3,944 2,884 ! 1,060 2,695 1,959 736 1,249 925 324 Dec. 31 4.081 2,974 : 1,107 2, 855 2,079 776 1,226 895 331 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBER BANKS 139 No. 73.—ALL BANKS IN THE UNITED STATES: TOTAL LOANS AND INVESTMENTS, BY STATES, 1923-1926 [See note on p. 135] [In thousands of dollars] 1923 1924 1925 1926 Division and State June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 United States _ 43,905,319 44,254,642 45, 274, 769 47,463,140 49,014, 374 50,918, 596 51, 761,602 52,146,836 New England: Maine 347, 734 348, 609 352,441 356, 054 363, 727 371, 779 389,202 394, 636 New Hampshire . 236,405 236, 909 245, 387 246, 867 255,884 258,499 269,924 270,400 Vermont 195,334 198, 569 205,375 208,429 217, 521 219, 811 227, 214 227,840 Massachusetts | 3, 090, 6843,118, 7263,182,070 i, 313, 7263, 461, 6903, 602, 534 700, 789 3, 729, 562 Rhode Island 407,199 408,389 426,253 440,274 456,285 468, 573 479,198 495,026 Connecticut 879, 822 905, 781 938,132 969, 991 1,009,939 1,052,984 088, 683 1,101,072 Middle Atlantic: New York 10,898,08710,961,982 11, 683, 974 12, 560, 768 12, 770,872:13,305,206 13, 605, 847 13, 775, 694 New Jersey 1,538,767 1,590,156 1,652,535 1,756,867 1,867,0071 1,979,973 2,073,078 2,175,476 Pennsylvania 4,351,823) 4,369,795 4,553,628! 4,771,525 4,919,247 5,056,767 5,184,995 5,287,792 East North Central: Ohio 2,138,387 2,138,714 2, 201,158 2, 242,953 2,360,265 2,394,523 >, 471,9072,458, 739 Indiana 782,004 776, 063 773, 239 782, 583 805,361 834,209 869,263 t 868, 762 Illinois 2,983,7071 2,984,913 3,080,417 3,269,145 3,357,733! 3,452,214 I, 516, 9783, 525,987 Michigan 1,302, 976 j 1,320,310 1,386,3551 1,452,247 1.600,776 1,661,112 , 736, 7101, 761,190 Wisconsin 754,342 753, 422 773, 577 j 778, 025 813, 956 835, 239 874, 763 876, 319 West North Central: Minnesota 9] 9, 521) 911,613! 875,464 943, 954 934,404; 940,261 923,046 902, 551 Iowa 957,451j 955, 747] 911, 783 890, 5361 887,285 857,254 836,379 791,065 Missouri 1,152, 832 1,165, 0001,133, 5941,215.553! 1,218,729 1, 273,380 ., 254, 2281, 237, 737 North Dakota._. 184,176 164, 216 150, 005 147,961 152,950 154, 606 148,042 135, 029 South Dakota 227, 631 217, 754 163, 772 164, 744 163,498 146, 906 144, 553 122,941 Nebraska 423,3701 422, 565 398, 690 414, 600 424, 489 430, 972 419,092 412, 704 Kansas.. .__ 412, 578 400,195 379, 040 389, 987 401, 597 409, 341 408,436 404, 568 South Atlantic- Delaware 95,054 100, 6661 104, 4831 108,999 112,246! 115,078 118,962 124,054 Maryland 640,160 636,160| 650, 312 680,875 719,890| 745,546 749,898 770, 042 District of Columbia 197, 704 199, 565 195, 781 209, 896 219,096 231,112 232, 207 232, 752 Virginia j 503,433 508, 510 509,086 510, 533 517, 513 540, 620 533, 701 533,868 West Virginia 363,274 369, 880| 368, 585 369, 549 361,240 369,003 366, 260 364,010 North Carolina _. 354,070 367,890! 369,165 369, 217 381,026 384, 638 397,393 393,081 South Carolina __ 222, 056 224,496 225,004 219, 226 215,416 206,031 201,078 181,604 Georgia 358, 791 368,965 353,688 350, 785 361, 594 370,298 374, 677 346, 510 Florida 219,418 231,311 252,619 297, 351 436, 624 501, 702 460, 670 East South Central: Kentucky. 436, 787 441, 932 432,272 434, 732 445,357 454, 501 454,127 458, 520 Tennessee 359,051 386,147 372, 696 364, 786 373, 657 392,124 391,255 393,670 Alabama 223,136 237, 725 233, 524 242, 523 248, 764 261,923 269,185 267,311 Mississippi 178,484 182,363 182,183 180,433 194, 591 207,344 216,979 206,017 West South Central: Arkansas 190,408 191,325 192, 568 189,785 201,396 207,960 213,821 198,691 Louisiana 352,018 385,276 349,059 378,173 371, 970 425,818 406, 043 421,461 Oklahoma __ 353,830 325,160 311,068 309,346 335, 915 349,439 367,659 356,179 Texas 805,886 877, 904 833,804 895, 976 892,459 936,933 920,139 905, 391 Mountain: Montana 146, 610 123.558 105,607 113,208 118,187 122,400 123,914 129, 268 Idaho 75,397 74,585 69,993 69,587 69, 771 73, 741 73,304 76, 705 Wyoming 68,559 68,125 61,847 48,342 49,142 51,434 50,338 52,408 Colorado 280,059 270,357 260,303 272,821 271,176 258, 798 256,583 262,353 New Mexico 50,440 41, 515 30,873 27, 902 27,212 26, 817 29,010 31,005 Arizona 60,646 60, 520 58, 793 58,277 59,621 56,915 57,636 58,319 Utah 118,157 120, 459 122,277 128,377 129,305 137,454 135,412 143,406 Nevada __ 30,406 29, 918 30,411 30,644 32,146 34,030 34,840 35, 267 Pacific- Washington 351, 586 358, 834 358,272 361,892 389,140 398,446 401,079 Oregon 236,427 241,811 237,516 239,044 243,488 249, 640 254, 695 255, 784 California 2,448,642 2,480,257 2, 536,091 J, 684,0722,802,189 2,960, 451 I, 010, 1113,132,321 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

140 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No, 74.—ALL BANKS IN THE UNITED STATES: TOTAL LOANS, BY STATES, 1923-1926 [See note on p. 135] [In thousands of dollars] 1923 1924 1925 1926 Division and State June 30 Dec. 31 June 30 t Dec. 31 j June 30 Dec. 31 June 30 Dec. 31 United States.. 30,189,132 30, 646, 312 31,217,524 32,338, 504;33,657,017J35, 532,882 35,958,21862,465, 309 New England: Maine 155,279 159,126 167,443' 168, 738 176,067 179,809 183, 819 187, 600 New Hampshire. 112,900 113,543 120,875! 121,058 126,436 127,851 131,112 131, 518 Vermont. 139,367 140,900 144,311! 143,330! 149,041 148, 394 152,374 151,353 Massachusetts... 2,102,067 2,139,314 2,175,1211 2,292,765 2,417,393 2, 534, 9642, 577,4872, 611,100 Rhode Island 205,892 208, 448 216, 7431 221,940 233, 046 246, 745 258,865 265,796 C onnecticut 460,014 478,995 502,0011 526,114 557,950 595, 536 615,499 620,148 Middle Atlantic: New York 7,100, 6117,221,007 7,668,402 8,202,410 8,467,226 9,156, 6059,314,443 9, 604,207 New Jersey. 864,675 918,039 970,062i 1,018,956 1,130,684 1,232, 9041,315,611 1,412,821 Pennsylvania 2,413,852 2,473,833 2,550,893! 2,667,311i 2,787,183 2,997,799 3,072,474 3,197,483 East North Central: Ohio. 1, 574, 5951, 589, 0081,620,102J 1,645,091! 1,758,573 1, 809,0311,863,488 1,864,323 Indiana 590,588 587,984 594,035! 594, 5171 618,039 640, 996 676, 091 676, 224 Illinois 2,221,479 2,239,534 2,281,320! 2,363,962! 2,486,837 2, 566,1242,608,719 2,660,473 Michigan.. 612, 569 606,136 635,604 i 672,665' 748,944 793,048 849,336 866, 560 Wisconsin 585, 636 579, 951 592,347! 574,091' 602,505 606, 372 625,825 625,238 West North Central: Minnesota 692, 723 679,454 646, 742 665, 663 630, 565 622,440 589,855 580,251 Iowa 867,019 871,869 832, 598! 800, 203^ 784, 343 761,823 733,910 695,498 Missouri _ 880,096 884,174 870, 958! 924,245! 901,312 949,361 921, 353 906, 514 North Dakota. 164,820 145, 070 132,1411 117,365 117,784 114,472 113,035 102,980 South Dakota 213,012 202,807 148, 814 j 143,231 136,952 123,102 114, 737 94.262 Nebraska 377,107 382, 439 358,824! 366, 738! 367, 581 371,738 360,465 350,959 Kansas 354, 509 340, 319 325, 0131 321,233! 325,938 328, 846 331,639 318,432 South Atlantic: Delaware 51,382 56,572 59, 622 i 58,213 63, 810 67,897 69,453 73,409 Maryland-. 369,910 376,403 394, 718j 397, 773| 429,284 462, 303 465, 340 488,794 District of Columbia. _ 138,109 141, 688 140,1101 148,162! 157,691 169,805 171,339 174,400 Virginia.- _. 423,693 430, 047 437,099| 437,693! 447,804 468,927 459,133 458,421 West Virginia.... 294,096 304,064 303,563; 310,013! 301,481 309,216 305, 547 306,491 North Carloina.. 315,998 330,965 331, 257I 331,067! 344,887 348,231 357,191 353,150 South Carolina 192,14" 191,231 194, 652! 185,555! 184,354 170, 501 169,704 148,542 Georgia 320,920 330,606 319,845' 314,199 320,476 326,350 326,947 299,093 Florida. 160, 953 173, 2501 189, 667! 225, 615 335, 211 509,799 379,813 343, 377 East South Central: Kentucky 329,273 349,789 344,115' 346,864! 356, 530 364,829 364,341 365,459 Tennessee- 304,871 330, 519 322,484; 319,471 327, 509 344,055 344,171 345, 599 Alabama. 182,277 196,112 191, 953i 196,855 205,980 213,373 223, 531 219,246 Mississippi 141, 294 144, 692 147,83l| 143, 7621 154,625 163,403 173,280 160,938 West South Central: Arkansas 163, 506 166,8681 170, 529i 164,955) 175,426 182,181] 186,906 173,884 Louisiana 295,858 323,132 302,069, 327,9511 321, 701 364,086 341,890 358,079 Oklahoma 282,232 250,142 243, 329' 230,128 247,388 244,979 255,651 236, 535 Texas.. 665, 746 713,434| 691,6111 74<" " 734,177 766, 799 754,108 741,322 Mountain: Montana.. 119, 723 96,0171 78,475 75,400! 78,823 78,294 80,626 81.263 Idaho 60,809 57, 610| 53, 670 50, 575| 50,418 50,636 49,359 49,823 Wyoming 61, 098 59, 640 52, 940 38,444! 38,152 38,703 37,420 38,082 Colorado 194, 534 189,059 178,839 181,805! 178,262 169, 372 162,887 166,085 New Mexico 44,740 36,219! 22, 583! 21,449 19,467 20,425 20,700 Arizona 48,602 46,766 46,089| 45, 631 43,184 42,937 40,176 Utah 93,494 95, 774 95,368 97,969J 100,561 108,857 106,452 114,262 Nevada 24,585 23,883 23,765 23, 704; 25,179 26,891 27,133 27,533 Pacific: Washington 244,697 245,217 247,084 235,925 251,250 257,593 264,535 260,000 Oregon 165,867 167,163 165,952 159,416 162,103 164,045 169, 586 164,208 California 1,809,908 1, 855, 797 1,909,800 1,970,308 2,072,456 2,191,146 2,238,440 2,332, 698 I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

141 CONDITION OF MEMBEK AND NONMBMBEE BANKS No. 75.—ALL BANKS IN THE UNITED STATES: INVESTMENTS, BY STATES, 1923-1926 [See note on p. 135] Lin thousands of dollars] 1923 1924 1925 1926 Division and State June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 United States 13,716,187 13,608,330 14,057, 245 15,124, 636 15,357,357 15,385, 714 15, 803, 320 15, 681, 527 New England: Maine 192,455 189,483 184, < 187,316 187,660 191, 970 205,383 207,036 New Hampshire. 123, 5051 123, 366 124, 512 125, 809 129,448 130,648 138, 812 138,882 Vermont 55,967! 57, 669 61, 064 65,099 68,480 71,41" 74,840 76,487 Massachusetts 988, 617 979,412 1,006,949 1, 020,961 1,044,297 1, 067,5701,123,302 1,118,462 Rhode Island 201,307 [ 199,941 209, 510 218, 334 223, 239 221,828 220, 333 229,230 Connecticut 419, 8081 426, 7861 436,131 443, 87' 451, 989 457,448 473,184 Middle Atlantic: New York 3,797,4761 3,740,975 4, 015, 5724, 358, 358 4, 303,6464,148,601 4,291,404 4,171,487 New Jersey 674,092! 672,117 682,473 737, 911 736,323 747, 069 757,467 762,655 Pennsylvania 1,937,9711 1,895,962 2, 002, 7352,104, 214 2,132,064 2, 058,9682,112, 5212,090,309 East North Central: Ohio 563,7921 549, 706 581, 056 597, 862 601,692 585,492 608,419 594,416 Indiana 191,416' 188, 079 179, 204 188, 066 187, 322 193, 213 193,172 192,538 Illinois 762, 228 745,379 799, 097 905,183 870,896 886, 090 908, 259 865,514 Michigan 690,407 714,174 750, 751 779, 582 851,832 868, 064 887, 374 894,630 Wisconsin 168, 7061 173,471 181,230 203, 934 211,451 228, 867 248, 938 251,081 West North Central: Minnesota 226, 798 j 232,159 228, 722 278, 291 303, 839 317,821 333,191 322,300 Iowa 90,432! 83,878 79,185 90,333 102,942 95,431 102, 469 95, 567 Missouri 272,736| 280, 826 262, 636 291,308] 317,417 324,0191 332,875 331,223 North Dakota 19,356 19,146 17,864 30,596 35,166 40,134 j 35,007 32,049 South Dakota--._ 14,619 14,947 14,958 21,513 26, 546 23,8041 29,816 28,679 Nebraska 46,263! 40,126 39,866 47, 862 56, 908 59,2341 58, 627 61, 745 Kansas 58,069! 59.876 54,027 68, 754 75, 659 76, 7971 86,136 South Atlantic: Delaware 43,672! 44,094 44, 861 50,786 48,436 47,181 49, 509 j 50, 645 Maryland 270, 2501 259,757 255,594 283,102 290,606 283,243, 284, 558i 281, 248 District of Columbia 59,595i 57.877 55,671 61, 734i 61,405 61,307 60, 868 58,352 Virginia 79,740 i 78,463 71,987 72,840 69,709 71, 693 74,568 75,447 West Virginia.... 69,178 65,816 65,022 59,536 59,759 59, 787 60,713 57, 519 North Carolina _. 38, 072 36,925 37,908 38,150 36,139 36,407, 40, 202 39, 931 South Carolina- _. 29,909 33, 265 30,352 33,671 31,062 35,530i 31,374 33,062 Georgia- 37,871 38,359 33,843 36, 586 41,118 43,948 47, 630 47,417 Florida 58,465 58,061 62,952 71, 736 101,413 143,466 121, 889 117,293 East South Central: Kentucky 107,5141 92.143 88,157 87, 868 88, 827 89,672| 89, 786 93,061 Tennessee 54,180 55, 628 50, 212 45,315 46,148 48,069! 47,084 48,071 Alabama 40,859 41,613 41,571 45,668 42, 784 48,550 45, 654. 48,065 Mississippi 37,190 37,671 34, 352 36, 671 39,966 43,941 43, 45,079 West South Central: Arkansas 26,902 24,457 22, 039 24,830 25,970 25,779 26,915 24,807 Louisiana 56,160 62.144 46, 990 50, 222 50,269 61,732 64,153 63,382 Oklahoma 71, 598 75,018 67, 739 79,218 88,527 104,460 112,008 119,644 Texas 140,140 164,470 142,193 149, 592 158,282 170,134 166, 031 164,069 Mountain: Montana 26,887 27,541 27,132 37,808 39,364 44,106 43,288 48,005 Idaho 14,588 16,975 16,323 19,012 19,353 23,105 23,945 26,882 Wyoming 7,461 8,485 8,907 9,898 10,990 12, 731 i 12,918 14,326 Colorado .... 85, 525 81,298 81,464 91,016) 92,914 89,426! 93,696 96,268 New Mexico 5,700 5,296 4,811 5,319 5,763 7,350! 8,585 10,305 Arizona 12,044 12,051 12,027 12,188 13,990 13,731 14,699 18.143 Utah 24,663 24,685 26,909 30,408 28, 744 28,597 28,960 29.144 Nevada 5,821 6,035 6,646 6,94i 6,967 7,139 j 7,707 7,734 Pacific: Washington 106, 889 113,617 111, 188 125,9671 128,918 131,547; 133,911 141,079 Oregon. _ 70, 560 74,648 71,564 79,628 81,385 85,595 85,109J 91, 576 California ... 638, 734 624,460 626, 291 713,764 729, 733 769,305 771,671 799, 623 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 76*—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1914-1926 [In millions of dollars] to Loans and investments Net Investments Capital, demand, Reserve Bills Num- Call date Total Loans i G U ov . e S rn . - Other b f D a ro n u m k e s a s d p u n iv r r d o p i d f l u i u e t n s s d - , de T p o o t s a i l tsd D e e p m os a i n ts d 2de T p i o m si e ts3 d U S ep n ta o i t t s e e i s d ts D b u a e n k t s o d d e e p N m o e a s t i n t d s4 G m t o i a m v n e e n d e r t , n- F r b e e w s a d e n i e r t k h v ra s e l p c r a o e a y u d n a n i d b s t - l s e r b b e a i e p n n r o g k r o s t f - Total ment securi- deposits securi- ties ties 1914 Dec 31 8,560 6,419 2,141 794 1,347 1,163 2,093 8,305 5,125 1,233 71 1,876 6,235 7,539 260 133 7,582 1915 Mar 4 -- 8,615 6,563 2,052 780 1,272 1,353 2,098 8,666 5,092 1,264 58 2,252 6,622 7,945 295 96 7,607 May 1 8,748 6,705 2,043 783 1,260 1,322 2,097 8,967 5,367 1,320 46 2,234 6,735 8,101 295 91 7,614 June 23 8,806 6,720 2,086 782 1,304 1,282 2,124 8,894 5,278 1,352 48 2,216 6,811 8,211 317 98 7,615 Sept 2 - - -- 9,088 6,965 2,123 781 1,342 1,443 2,129 9,437 5,491 1,416 44 2,486 7,145 8,605 324 106 7,630 Nov 10 9,730 7,483 2,247 111 1,470 1,637 2,146 10,389 6,152 1,463 40 2,734 7,879 9,382 376 104 7,640 Dec 31 9,899 7,623 2,276 114. 1,502 1,563 2,126 10,636 6,334 1,506 35 2,761 7,971 9,512 414 99 7,631 1916 Mar 7 10,120 7,777 2,343 753 1,590 1,827 2,137 11,030 6,304 1,592 32 3,102 8,360 9,984 441 62 7,612 May 1 --- 10,285 7,898 2,387 738 1,649 1,767 2,148 11,404 6,661 1,686 35 3,022 8,336 10,057 438 64 7,605 June 30 10,348 7,964 2,384 731 1,653 1,564 2,143 11,133 6,581 1,775 39 2,738 8,226 10,040 490 69 7,606 Sept 12 10, 763 8,263 2,500 729 1,771 1,748 2,184 11, 737 6,892 1,853 34 2,958 8,804 10, 691 554 95 7,618 Nov 17 11,290 8,712 2,578 724 1,854 2,057 2,213 12,893 7,522 1,940 34 3,397 9,567 11,541 674 80 7,614 Dec. 27 11,307 8,714 2,593 716 1,877 1,874 2,231 12, 661 7,340 1,983 35 3,303 9,502 11,520 733 95 7,614 1917 Mar 5 11,733 9,096 2,637 714 1,923 2,056 2,218 13,396 7, 503 2,125 34 3,734 10,044 12,203 778 75 7,614 May 1 - 12,018 9,208 2,810 776 2,034 1,897 2,258 13, 651 7,915 2,263 35 3,438 9,869 12,167 802 95 7,629 June 20 12, 561 9,426 3,135 1,098 2,037 1,695 2,307 13,397 7,856 2,304 141 3,096 9,690 12,135 862 382 7,653 Dec. 31 17,132 * 12,420 4,712 1,858 2,854 2,129 2,807 18, 628 11,180 3,156 649 3,643 12,488 16,293 1,497 887 7,907 1918 May 10 18,875 512, 759 6,116 3,281 2,835 1,870 3,005 19,210 11,051 3,347 1,459 3,353 12,450 17,256 1,536 1,135 8,132 June 29 18, 724 * 13,318 5,406 2,567 2,839 1,906 3,002 18,954 10, 754 3,395 1,521 3,284 12,218 17,135 1,565 1,106 8,213 Nov 1 21,346 14,671 6,675 3,820 2,855 2,036 3,225 20,821 12,016 3,651 1,708 3,446 13,284 18,643 1,520 2,033 8,596 Dec. 31 20,884 14,319 6,565 3,657 2,908 2,194 3,218 21,419 13, 309 3,834 472 3,804 14,526 18,832 1,655 1,970 8,692 1919 Mar. 4 21, 761 13,976 7,785 4,823 2,962 2,137 3,280 21,493 12, 709 4,092 884 3,808 14,143 19,119 1,633 2,060 8,725 June 30 22,602 15,534 7,068 4,037 3,031 2,125 3,350 22,808 13,900 4,344 902 3,662 14,700 19,946 1,724 2,048 8,822 Nov. 17 24, 528 17,590 6,938 3,661 3,277 2,575 3,587 25,169 15,638 5,050 386 4,095 16, 246 21, 682 1,825 2,424 8,995 Dec. 31 25,181 18,364 6,817 3,506 3,311 2,519 3,542 26,122 16,063 5,305 648 4,106 16, 653 22,516 1,904 2,562 9,066 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

May 4 25,847 19,497 6,350 3,081 3,269 1,874 3,833 24,835 15,352 5, 747 190 3,546 16,390 22,327 1,866 3,054 9, 291 June 30 25, 945 19, 784 6,161 2,942 3, 219 1,824 3,853 25, 372 15, 715 5,911 260 3,486 15, 393 21, 564 1,839 2,952 9,399 Nov. 15..._ 26,133 20,080 6,053 2,786 3,267 1, 774 4,086 25,088 15, 494 6,144 220 3,230 15,906 22, 270 1,827 3,308 9,567 Dec. 29 25,888 19, 767 6,121 2,760 3,361 1,577 4,120 24, 202 14, 614 6,188 316 3,084 15, 327 21, 831 1,763 3,248 9,606 1921 Apr. 28.... 24, 645 18,607 6,038- 2,627 3,411 1,325 4,156 22, 812 13, 509 6,343 273 2,687 14, 371 20, 987 1,654 2,432 O June 30 24,311 18,206 6,105 2,661 3,444 1,354 4,133 23, 325 13, 855 6,367 390 2,713 14, 295 21,052 1,625 2,109 9,745 Dec. 31.... 23, 644 17,483 6,161 2,648 3,513 1,450 4,093 23,231 13, 614 6,451 306 2,860 14, 433 21,190 1,758 1,453 9,779 O 1922 Mar. 10.... 23, 419 17,161 6,258 2,755 3,503 1,614 4,185 23, 641 13, 484 6,662 330 3,165 14, 479 21, 471 1,723 839 9,816 June 30 24,358 17, 296 7,062 3,247 3,815 1,647 4,214 25, 517 15,035 7,175 156 3,151 15, 509 22, 840 1,835 723 9,892 Dec. 29.... 25, 769 18,081 7,688 3,789 3,899 1,806 4,364 27, 272 15, 673 7,645 462 3,492 16,187 24, 294 1,939 - 878 9,859 1923 Apr. 3 26,332 18, 572 7,760 3,883 3,877 1,774 4,356 27,182 15,127 8,143 404 3,508 16,068 24, 615 1,909 968 9,850 June 30 26, 675 18,880 7,795 3,870 3,925 1,596 4,367 27,053 15,161 8,378 297 3,217 16,031 24, 706 1,871 1,073 9, 856 Sept. 14.. _ 26, 498 18, 857 7,641 3,723 3,918 1,640 4,436 26, 915 15,101 8,466 145 3,203 15, 892 24,503 [ 1,869 1,121 9,843 g Dec. 31 26, 738 19,052 7,686 3,641 4,045 1,824 4,378 28,487 16,087 8,651 237 3,512 16,356 25,244 I 1,900 1,018 9,774 g 1924 Mar. 31.... 26,832 19,176 7,656 3,570 4,086 1,644 4,468 28, 248 15,586 8,890 292 3,480 16,090 25, 272 1,893 745 9,681 June 30 27, 262 19,264 7,998 3,608 4,390 1,940 4, 486 29, 530 16, 293 9,204 179 3,854 16, 802 26,185 1,965 503 9,650 Oct. 10 28,451 19,820 8,631 3, 895 4,736 2,430 4,594 30, 772 16,383 9,597 302 4,490 17, 781 27,680 2,121 433 9,635 Dec. 31 29,027 20,181 8,846 3,903 4,943 2,339 4,532 32, 362 17, 766 9,805 243 4,548 18, 446 28, 494 2,228 657 9,587 1925 Apr. 6 29, 285 20,390 8,895 3,916 4,979 2,091 4,669 31, 227 16, 607 10,127 412 4,081 17, 686 28, 225 2, 092 700 9, 531 June 30 29,703 20,814 8,889 3,803 5,086 2,017 4,690 32, 420 17,844 10, 381 177 4,018 18,240 28, 798 2,191 718 9, 538 Sept. 28.._ 30,369 21,450 8,919 3,786 5,133 2,031 4,688 32,049 17,426 10,467 278 3, 878 18, 233 28, 978 2,147 877 9,539 Dec. 31.... 31,200 22, 276 8,924 3,761 5,163 2,155 4,678 34, 228 19,050 10,653 304 4,221 19,238 30,195 2,238 1,012 9,489 1926 Apr. 12 31,070 22,006 9,064 3,831 5, 233 1,934 4,826 32, 870 17,687 10, 955 379 3,849 18, 369 29, 703 2,136 841 9,412 June 30 31,391 22, 267 9,124 3,745 5,379 1,980 4,832 33, 724 18, 343 11,173 228 3,980 18, 766 30,167 2,236 819 9, 375 Dec. 31 31, 897 22,907 8,990 3,389 5,601 2,066 4,944 34, 508 18, 780 11,440 234 4,054 18, 902 30, 576 2,210 1,014 9, 260 1 Including rediscounts and overdrafts. 2 Including certified and cashiers or treasurers' checks outstanding. > 3 Including postal-savings deposits, except that such deposits of State bank members prior to June 20, 1917 are included with demand deposits. 3 * Demand deposits subject to reserve requirements—i. e., net amounts duo to banks and all other deposits (except deposits of United States Government) payable on demand w or within 30 days. * Exclusive of customers' liability on letters of credit for State bank members. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No, 77.—NATIONAL BANKS: l PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1914-1926 [In millions of dollars] Loans and investments Net Investments Capital, demand, Reserve Bills Num- Call date Total Loans 2 Total G s m U e o c v . e u S e n r r . t i n - - s O e t c i t e h u s e ri r - b f D a ro n u m k e s a d s p u n iv r r d o p i d f l u i u e t n s s d - , de T p o o t s a i l tsd D e e p m os a i n t d s3de T p i o m si e ts4 d U S ep t n a o i t t s e e i s d ts D ba u n e k t s o d d e e p N m o e a s t i n ts d 5 d G e m t o i p a m v n e o e d n s e r i t , n ts - F r b e e w a s d e n i e t r k h v ra s e l p c r a o e a y u d n a n i d b s t - l s e r b b e a e i p n r n o g k r o t s f ties 1914 Dec. 31. 8,487 6,361 2,125 794 1,331 1,158 2,074 8,232 5,085 1,207 71 1,870 6,193 7,470 261 132 I 7, 574 1915 Mar. 4 8, 542 6, 505 2,036 780 1,256 1,345 2,079 8, 590 5,050 1, 238 59 2,244 6, 580 7,876 291 96 j 7, 592 May 1 8,674 6,648 2,026 783 1, 243 1,313 2,077 8,888 5, 322 1, 294 46 2, 226 6, 693 8,033 290 91 j 7,597 June 23 8,730 6, 663 2,067 783 1, 284 1, 275 2,104 8,817 5, 235 1,326 48 2,208 6,767 8, 142 313 98 ! 7,598 Sept. 2 8,904 6,812 2,092 781 1,311 1,407 2, 091 9, 225 5, 336 1,379 44 2, 466 6,985 8,408 315 106 7,606 Nov. 10... 9,526 7,313 2, 213 777 1,436 1,602 2,107 10, 153 5, 980 1,424 40 2,710 7,702 9,166 366 103 7,610 Dec. 31 9,690 7,448 2,242 774 1,468 1,532 2,087 10,398 6, 159 1, 466 35 2, 738 7,794 9, 295 404 98 7,600 1916 Mar. 7 9,906 7,596 2,311 753 1,558 1,794 2,097 10,787 6,133 1, 548 32 3,074 8,181 9, 761 431 62 7,579 May 1 10, 068 7,711 2,357 738 1, 619 1,720 2,108 11,131 6,459 1,642 34 2,995 8,145 9,822 428 64 7,571 June 30 10,118 7,766 2,351 730 1, 621 1,536 2,102 10, 872 6,392 1,729 39 2,713 8, 033 9,801 476 69 7, 572 Sept. 12 10,442 7,996 2,446 729 1,717 1,715 2,132 11,357 6,602 1,806 34 2,916 8,507 10, 347 531 92 7,582 Nov. 17 10,954 8,430 2, 525 724 1,801 2, 018 2,161 12, 484 7,208 1,893 34 3,349 9,250 11,178 649 74 7,577 Dec. 27. 10,969 8, 435 2, 534 716 1,818 1,836 2,176 12, 261 7,030 1,935 35 3,262 9,186 11,156 707 90 7, 577 1917 Mar. 5 11, 370 8,793 2,577 714 1,863 2,015 2,160 12, 953 7,165 2,071 34 3,683 9,694 11,799 750 70 7,574 May 1 | 11, 554 2,717 767 1,950 1,838 2,189 13,076 7,496 2,166 35 3,379 9,456 11,658 762 92 7,585 June 20 [ 12,001 3,011 1,075 1,936 1, 636 2,217 12, 768 7,430 2,179 133 3,026 9,249 11,562 821 373 7,600 N S D e e o p c v . t . . 3 2 1 1 0 1 1 918 .. I ! 1 1 1 3 2 4 , , , 4 3 1 9 8 8 5 0 0 9 9 9 , , , 8 2 9 2 6 0 2 1 3 3 4 3 , , , 1 5 3 1 9 5 9 2 8 2 1 1 , , , 3 6 1 5 2 5 4 3 8 2 1 1 , , , 9 9 0 6 6 0 8 1 5 1 1 1 , , , 7 8 6 6 0 3 9 4 2 2 2 2 , , , 2 2 2 1 7 2 2 5 4 1 1 1 4 3 4 , , , 4 7 2 3 9 2 9 3 9 8 8 7 , , , 0 4 67 5 3 6 3 3 2 2 2 , , , 2 2 2 9 8 9 6 1 8 1,3 2 5 5 0 1 1 9 4 3 3 3 , , , 1 1 0 0 9 4 7 4 8 9 9 9 , , , 6 1 4 4 6 3 1 6 8 1 1 12 1 3 , , , 0 6 4 7 7 5 0 1 3 1 1 1 , , , 1 0 0 1 4 7 0 6 8 2 6 7 8 0 4 5 0 2 7 7 7 , , , 6 6 6 5 5 3 7 1 4 Mar. 4 _J 13, 632 4,035 2,125 1,910 1,828 2,255 14, 432 8,081 2,370 680 3,301 9,523 12, 573 1,071 657 7,665 May 10 14, 281 9,763 4,517 2,661 1, 856 1,498 2,290 14, 378 8,092 2,342 1,057 2,888 9,380 12, 779 1,104 844 7,683 June 29 14,129 10,162 3,968 2,128 1,840 1,461 2,278 14, 016 7,835 2,343 1,036 2,802 9,196 12, 575 1,130 883 7,700 Aug. 31... ... 14, 382 10,123 4,259 2,465 1,794 1,526 ?,316 13,880 8,092 2,397 505 2,886 9, 504 12, 406 1,111 1,294 7,723 Nov. 1 15, 683 10, 753 4,930 3,165 1,765 1,531 2, 360 15, 045 8,637 2,372 1,135 2,901 9,821 13,328 1,099 1,567 7,749 Dec. 31 ! 15,186 10,443 4,743 2,955 1,788 1,651 2,341 15, 417 9,457 2,473 311 3,175 10, 576 13,360 1,180 1,381 7,762 1919 Mar. 4_ _ 15, 585 10,093 5,491 3, 685 1,806 1,640 2,374 15, 294 8,853 2,652 589 3,199 10, 227 13, 468 1,149 1,451 7,756 May 12 16,143 10, 264 5,879 4,031 1,848 1, 592 2, 413 15, 898 9,549 2,729 529 3, 091 10, 632 13,890 1,179 1,548 7,768 June 30 16,074 11,024 5,050 3,175 1,875 1,579 2,417 15, 918 9,585 2,784 565 2,985 10, 468 13, 818 1,209 1,485 7,780 Sept. 12 16,756 11, 543 5,214 3,295 1,919 1, 705 2,498 16, 674 j10,171 2,921 516 3,067 11,118 14, 555 1,227 1,506 7,816 Nov. 17 17,128 12, 266 4,863 2,880 1,983 1,965 2,558 17,461 10, 769 3,053 268 3,370 11, 513 14,835 1,262 1,743 7,860 Dec. 31 17, 487 12, 781 4,706 2,721 1,985 1,842 2,509 17,860 I 10,925 3.139 447 3, 349 11,584 15,169 1, 312 1,912 7,885 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1920 freb.28 17, 542 13,114 4,427 2, 457 1,970 1,641 2,598 16, 958 10, 326 3,259 66 3,308 11, 704 15, 029 ],286 2,066 7,928 May 4 17,842 13, 521 4,321 2,374 1,947 1,437 2,675 16, 918 10,456 3, 410 114 2,939 11,457 14, 980 1,266 2, 265 7,985 June 30 17, 817 13, 634 4,184 2,268 1,916 1,392 2,682 17,148 10, 646 3,485 174 2, 844 11,345 15, 004 1,245 2,206 8,025 Sept. 8 17, 825 13, 728 4,097 2,173 1,924 1,423 2,772 16, 745 10,342 3,560 51 2,791 11, 281 14, 892 1,230 2,300 8,088 Nov. 15 17,884 13, 780 4,104 2,151 1,953 1,373 2,842 16, 954 10, 540 3,620 145 2,648 11,054 14, 820 ,218 2, 391 8,118 Dec. 29 17, 659 13, 540 4,119 2,129 1,990 1,196 2,854 16, 270 9,883 3,631 218 2,545 10, 636 14, 477 ,185 2,343 8,125 1921 Feb. 21 16, 859 12,834 4,025 2,045 1,980 1,116 2,793 15, 472 9,246 3,712 111 2,403 10,179 14,002 ,129 1,926 8,139 Apr. 28 16, 354 12, 364 3,989 1,999 1,990 970 2,816 14,845 8,869 3,698 173 2,105 9,666 13, 536 ,077 1,712 8,148 June 30 16, 033 12, Oil 4,022 2,017 2,005 1,016 2,795 15,136 9,043 3, 695 247 2,151 9,546 13, 488 ,040 1,472 8,150 Sept. 6 15, 525 11, 692 3,833 1,860 1,973 1,038 2,841 14, 555 8,649 3,680 108 2,117 9, 358 13,146 ,030 1,257 8,151 Dec. 31 15, 567 11,513 4,054 1,973 2,081 1,091 2,779 15, 068 8,868 3,749 186 2,266 9,657 13, 592 ,143 1,020 8,165 1922 Mar. 10 15,406 11, 292 4,115 2,029 2,086 1,235 2,833 15, 383 8,793 3,837 213 2,540 9,754 13, 804 1,125 599 8,192 May 5 15,476 11,192 4,284 2,122 2,162 1,218 2,858 15, 761 9,088 3,918 140 2, 615 9,928 13, 986 1,151 535 8,225 June 30 15, 815 11, 255 4,559 2,282 2,277 1,241 2,847 16, 314 9, 599 4,111 102 2, 502 10, 214 14, 427 1,152 509 8,244 Sept. 15 15,934 11, 246 4,688 2,399 2,289 1,362 2,887 16, 591 9,640 4,168 143 2,640 10, 420 14, 731 1,232 429 8,235 Dec. 29 16, 610 11,610 5,000 2,653 2,347 1,382 2, 920 17, 413 10, 038 4,318 302 2, 755 10, 662 15, 282 1, 221 573 8,220 1923 Apr. 3 16, 714 11, 677 5,037 2, 691 2,346 1,333 2,872 17, 028 9,501 4,579 262 2,686 10, 427 15, 268 1,180 661 8,224 June 30 - 16, 891 11,825 5,065 2,690 2,375 1,204 2,874 16, 890 9,537 4,754 191 2,409 10, 322 15, 267 1,143 724 8,236 Sept. 14 16,941 11, 945 4,996 2, 599 2, 397 1,252 2,922 17, 032 9,625 4,863 99 2,445 10, 374 15, 336 1,169 754 8,234 Dec. 31 16, 924 11,884 5,040 2, 563 2,477 1,347 2,867 17,820 10,123 4,947 155 2, 595 10, 519 15, 621 1,181 658 8,179 1924 Mar. 31 16, 961 11, 960 5,002 2,491 2,511 1,221 2,915 17, 591 9,738 5,108 181 2,565 10, 343 15, 632 1,161 511 8,110 June 30 17,123 11,985 5,137 2,478 2,659 1,443 2,914 18, 339 10,139 5, 259 122 2,820 10, 746 16,126 1,199 341 8,080 Oct. 10 . 17, 690 12, 219 5,472 2,576 2,896 1,850 2,962 19, 100 10,156 5,459 185 3,299 11,307 16, 952 1,304 294 8, 069 Dec. 31 17, 984 12, 326 5,659 2,584 3,075 1,778 2,926 19, 990 10,957 5, 580 151 3,302 11,716 17, 448 1,394 399 8,043 1925 Apr. 6 18, 225 12, 477 5,749 2,611 3,138 1, 585 3,017 19, 373 10,320 5, 783 253 I 3,016 11,278 17, 314 1,273 446 8,010 June 30 18,405 12, 679 5,726 2,534 3,192 1,498 3,028 19,900 10,985 5, 923 106 2,885 11, 482 17, 513 1,327 479 8, 066 Sept. 28 18, 895 13,146 5,750 2,509 3,241 1,513 3,043 19, 920 10, 889 5, 993 173 ! 2,866 11,641 17, 806 1,324 562 8,079 Dec. 31 19,312 13, 542 5,770 2,520 3,250 1,616 3, 020 21, 070 11,822 6,046 191 | 3, 012 12, 206 18,443 1,377 649 8,048 1926 Apr. 12 19,113 13, 308 5,805 2,538 3,267 1,450 3,098 20,165 10, 933 6,198 232 2,802 11,618 18, 047 1,289 524 7,994 June 30 19, 260 13, 423 5,837 2,466 3,371 1,480 3,087 20, 631 11,278 6,312 143 2,898 11,842 18, 297 1,381 523 7,972 Dec. 31 19, 363 13, 577 5,785 2,279 3,506 1,546 3,103 20, 852 11, 347 6,531 136 2,838 11,705 18, 373 J,359 626 7,906 1 Member national banks only—i. e., exclusive of national banks in Alaska and Hawaii. 1 Including rediscounts and overdrafts. 3 Including certified and cashiers' checks outstanding. 4 Including postal savings deposits. 5 Demand deposits subject to reserve requirements—i. e., net amount due to banks and all other deposits (except deposits of United States Government) payable on demand or within 30 days. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 78.—STATE BANK MEMBERS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1914-1926 [In millions of dollars] Loans and investments Net de- Investments Capital, mand, Reserve Bills Num- Call date L a o n a d ns U. S. b f D a ro n u m k e s s a d u n iv r d p i d l u u e n s d - , de T p o o t s a i l ts d m e D p a o n e d s - i t 2 s d T e i p m os e it 3 s d U S ep n ta o i t t s e e i s d ts b D a t n o u k e s d d e e p N m o e a s t i n ts d 4 G t o i a m v n e d e r , n- F re w e s d e i e t r h r v a e l p r a e a y d n a i d b s l - e r b e e i p n r o g o rt f co d u i n s t - s l Total G m ov e e n r t n- s O ec th u e ri r - profits de m p e o n si t ts banks counts banks securi- ties ties 1914 Dec. 31 5$ 15 (6) 15 5 19 73 39 27 7 42 69 4 1915 Mar. 4 73 58 15 (s) 15 8 19 76 42 26 8 42 68 4 (5) May 1 74 57 17 (*) 17 9 20 79 45 26 g 42 68 4 (6) n June 23 76 57 19 (5) 19 7 20 . 77 43 25 9 44 69 4 (*) Sept. 2 184 153 31 (5) 31 35 38 212 155 37 20 160 197 8 (5) 17 Nov. 10 .._. 204 170 34 (8) 34 35 39 236 173 39 24 177 216 10 1 24 Dec. 31 174 34 (5) 34 31 39 238 175 40 23 177 217 10 1 30 31 1916 Mar. 7 213 182 31 (6) 31 33 40 243 171 44 28 179 223 10 0) 33 May 1 217 187 30 (5) 30 47 40 273 202 44 27 191 235 10 (s) 34 June 30 230 198 32 (5) 32 28 41 261 190 46 25 193 239 14 (5) 34 Sept. 12 .... 321 267 54 (5) 54 33 52 380 290 47 43 297 344 23 3 36 Nov. 17 335 282 53 (6) 53 39 52 408 314 46 48 317 363 25 6 37 Dec. 27 338 279 59 (5) 59 38 55 400 311 48 41 316 364 25 5 37 1917 Mar. 5 363 303 60 60 41 58 443 339 54 50 350 404 28 6 40 May 1 464 371 93 (\ 84 59 69 575 420 96 59 413 509 40 3 44 June 20 560 436 124 23 101 59 90 629 427 124 8 70 441 573 42 9 53 Dec. 31 3,637 7 2, 516 1,121 235 886 325 583 4,189 2,747 858 135 449 2,847 3,840 387 145 250 1918 May 10 4,594 7 2, 995 1,599 620 979 372 714 4,832 2,959 1,005 402 466 3,070 4,477 432 291 449 June 29 4,594 7 3,156 1,438 439 999 445 725 4,939 2,919 1,052 486 482 3,022 4,560 436 223 513 Nov. 1 5,663 3,918 1,745 655 1,090 505 864 5,776 3,379 1,279 573 545 3,463 5,315 420 466 847 Dec. 31 5,698 3,875 1,823 703 1,120 543 877 6,003 3,852 1,361 161 629 3,950 5,472 475 589 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1919 Mar. 4 6,176 3,882 2,294 1,138 1,156 497 906 6,199 3,855 1,440 295 609 3,916 5,651 483 609 June 30 6,528 4,510 2,018 862 1,156 546 933 4,315 1,559 337 678 4,232 6,128 515 563 1,042 Nov. 17. _. 7,400 5,325 2,075 781 L, 294 610 1,029 7,708 4,869 1,996 118 725 4,733 6,847 563 1,135 Dec. 31 7,694 5,582 2,112 785 L, 327 677 1,033 8,262 5,138 2,166 202 756 4,979 7,347 592 650 1,181 1920 May 4 8,004 5,976 2,028 707 L, 321 437 1,158 7,917 4,896 2,337 77 607 4,933 7,347 599 789 1,306 June 30 8,128 6,151 1,977 674 L,303 432 1,171 8,224 5,070 2,426 86 642 4,048 6,560 593 746 1,374 N De o c v . . 2 1 9 5 8 8 , , 2 2 4 2 9 9 6 6 , , 2 3 2 0 8 0 2 1, , 9 0 4 0 9 1 6 6 3 3 5 0 • 1 L , . 3 3 7 1 1 4 4 3 0 8 1 1 1 1 , , 2 2 4 6 4 6 8 7 , , 1 9 3 3 4 2 4 4 , , 9 7 5 3 4 0 2 2 , , 5 5 2 5 4 7 1 7 0 4 6 5 53 8 9 2 4 4 , , 8 6 5 9 2 1 7 7, , 3 4 5 5 4 0 6 57 0 9 9 9 90 1 5 7 1 1 , , 4 48 4 1 9 1921 Apr. 28 8,291 6, 243 2,048 628 1,420 355 1,340 7,967 4,640 2,646 100 581 4,705 7,451 577 721 1,550 June 30 8,277 6,195 2,082 644 1,438 338 1,338 8,189 4,813 2,672 142 562 4,749 7,563 584 637 1,595 Dec. 31 8,077 5,971 2,106 674 1,432 359 1,314 8,163 4,746 2,702 120 595 4,777 7,599 615 1,614 1922 Mar. 10- - 8, 013 5,870 | 2,143 726 1,417 379 1,352 8,258 4,691 2,825 117 625 4,725 7,667 598 240 1,624 June30____ 8,543 6,041 | 2,502 964 1,538 406 1,367 9,202 5,436 3,064 54 648 5,295 8,413 684 214 1,648 Dec. 29 9,158 6,470 | 2,688 1,135 1,553 424 1,444 9,859 5,635 3,327 160 737 5,525 9,012 718 304 1,639 1923 Apr. 3 9,618 6,894 ! 2,724 1,193 1, 531 441 1,484 10,154 5,626 3,563 143 822 5,641 9,347 729 307 1,626 June 30 9,784 7,054 j 2,730 1,180 1,550 392 1,493 10,163 5,624 3,624 106 809 5,709 9,439 728 349 1,620 Sept. 14_._ 9,556 6,912 ! 2,644 1,123 1,521 388 1,514 9,883 5,476 3,603 46 758 5,518 9,167 700 368 1,609 Dec. 31 9,814 7,167 | 2,647 1,078 1,569 477 1,511 10, 667 5,964 3,704 82 917 5,837 9,623 719 360 1,595 1924 Mar. 31 — . 9,871 7,216 2, 655 1,079 1,576 423 1,553 10, 657 5,849 3,782 111 915 5,747 9,640 733 234 1,571 June 30 10,139 7,279 2,860 1,129 1,731 497 1,572 11,190 6,154 3,945 57 1,034 6,056 10,059 767 162 1,570 Oct. 10 10, 760 7,601 3,159 1,319 1,840 580 1,632 11, 672 6,227 4,138 116 1,191 6,474 10, 728 818 139 1,566 Dec. 31 11,042 7,855 3,187 1,319 1,868 561 1,606 12,371 6,809 4,225 91 1,246 6,730 11,046 833 258 1,544 1925 Apr. 6 11,060 7, 913 3,147 1,305 1,842 506 1,652 11,854 6,286 4,344 159 1,065 10,911 818 254 1, 521 June 30 11,297 8,135 3,162 1,268 1,894 519 1,662 12, 521 6,859 4,459 70 1,133 6,758 11, 285 864 239 1,472 Sept. 28... 11,474 8,305 3,169 1,276 1,893 518 1,645 12,129 6,538 4,474 106 1,011 6,592 11,172 823 314 1,460 Dec. 31 11, 887 8,733 3,154 1,241 I,9i3 539 1,658 13,158 7,229 4,607 113 1,209 7,032 11, 752 861 363 1,441 1926 Apr. 12 11, 957 3,259 1,293 1,966 484 1,728 12, 706 6,753 • 4, 757 148 1,048 6,751 11,656 847 317 1,418 June 30 12,131 8,845 3,286 1,279 2,007 500 1,745 13, 092 7,064 4,861 85 1,082 6,924 11,870 855 296 1,403 Dec. 31 12, 534 9,329 3,205 1,110 2,095 520 1,841 13,657 7,433 4,909 98 1,217 7,197 12, 203 851 389 1,354 11 IInncclluuddiinngg rreeddiissccoouunnttss aanndd oovveerrddrraaffttss.. 22 3 II I nn n cc c ll l uu u dd d ii i nn n gg g cc p ee o rr s ttii t ff a ii l ee dd sa v aa i nn n dd g s cc aa d ss e hh p iiee o rr s ss i '' t s oo b rr e ttnr g e i a n s n u in re g r s J ' u c n h e e 2 ck 0 s , 1 o 9 u 1 t 7 s , t p an ri d o i r n t g o . which date postal savings deposits were included in demand deposits. * Demand deposits subject to reserve requirements, i. e., net amount due to banks and all other deposits (except deposits of United States Government) payable on demand or wiitthhiinn 3300 ddaayyss.. «« LLeessss tthhaann $$550000,,000000.. 6 Included with other bonds, stocks, and securities. 7 Exclusive of customers' liability on letters of credit. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

148 ANNUAL REPORT OF THE FEDEKAL RESERVE BOARD No. 79.—ALL MEMBER BANKS: RESOURCES AND LIABILITIES, BY CLASS OP MEMBER [In thousands of dollars] National bank State bank Total members members Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1925 1926 1925 1926 1925 1926 (9,260 (8,048 (7,906 (1,441 (1,354 banks) banks) banks) banks) banks) banks) RESOURCES Loans and discounts _ _.22,257, 763 22, 890, 655 13, 531, 253 13, 567, 9884, 726, 5109, 322, 671 Overdrafts 17,522 15,895 10,550 9,330 6,972 6,565 United States Government securities. 3,761,065 3,388,963 2,520,050 2,279,427 1,241, 015 1,109, 536 Othar bonds, stocks, and securities 5,163,166 5,600,708 3,250,128 3,505,850 1, 913, 0382,094, 858 Total loans and investments ._.31,199, 516 31,896,22119,311,981J19, 363, 59111,887,535 \533, 630 Customers' liability on account of acceptances 498,143 512, 945 277, 513! 255, 464 220, 630 257, 481 Banking house, furniture, and fixtures 927, 3571 998, 212 605, 935| 644, 258 321, 422 353, 954 Other real estate owned-- 170, 763 173, 727 113, 723; 114,100 57, 040 59, 627 Cash in vault 574, 532 522, 596 388, 856j 351, 420 185, 676 171,176 Reserve with Federal reserve banks 2,238,233| 2,210,048 861, 241 850, 662 Items with Federal reserve banks in pro- 1,376,992; 1,359,386 cess of collection 825, 543; 810, 250 253, 453 Due from banks, bankers, and trust com- 572, 090 543, 268 | 2,155, 306 2, 065, 518 538, 772! 519, 549 Exchanges for clearing house and checks I I 1,616,534J 1,545,969 on other banks in same place I 2, 195, 466 2, 077, 0910,236,439; 1,086,474 959, 027! 990, 616 Outside checks and other cash items 71, 311! 72, 897 87, 749| 108, 696 Redemption fund and due from United j 159,060 181,593 States Treasurer 32, 982! 32, 785 32, 982! 32, 785 United States securities borrowed l 11,152! 37,347 ! 23,787 11,152 13, 560 Other securities borrowed l 2, 160 6, 998 ...I 3,199 2,160 3,799 Other assets 435, 082' 504, 314 235, 094! 273, 471 199, 988| 230, 843 Total 141,425,295 42,029,644 25,839,45025, 669, 069 15, 585, 845j 16, 360, 575 LIABILITIES Capital stock paid in.... | 2,105, 308J 2,203,4471 1,378,301! 1,409,923 727, 007J 793, 524 Surplusfund- I 1, 832, 6911 1,955, 349 1, 165, 879 1, 216, l4l 666, 812! 739, 208 Undivided profits, less expenses and taxes ! ! paid l 739,934; 785, 517 476, 001 477, 010 263, 933 308, 507 Reserved for taxes, interest, etc., accrued...! 108, 903| 120, 386. 59,161 61, 2971 49, 742j 59, 089 Due to Federal reserve banks ; 51,112; 51, 445 i 38, 321 38, 179| 12, 791| 13, 266 Due to banks, bankers, and trust com- Ce p r a ti n f i i e e s d and cashiers' or treasurers' [ 4, >, 470 4, 002, 995' 2, 973, 2481 2, 799, 580( 1, 196, 222: 1, 203, 415 checks outstanding — J 1,225,758! 1,141,102J 675, 878| 584,578 549, g 556, 524 Demand deposits ! 17, 824, 702; 17, 638, 648| 11,145, 805i 10, 762,2626,678,897 6,876,386 Time deposits 10, 653, 02811,439,8591 6,045,762 6,531,355 4,607,266; 4,908,504 United States deposits 304,131! 234,1161 190, 948| 135,713 113, 183; 98, 403 Total deposits 34,228,201 34, 508,165|21,069, 962 20, 851, 667 13,158; 239 13,656,498 Agreements to repurchase United States ! ! Government or other securities sold-. ._* 7,081; 32, 537| 1, 984 18, 485 5, 097| 14,052 Bills payable (including all obligations j representing money borrowed, other j than rediscounts) 527,898| 556,301 384, 377! 391, 593 143, 52l| 164, 708 Notes and bills rediscounted (including acceptances of other banks and foreign bills of exchange or drafts sold with indorsement) 483,914| 458,071 264, 505! 234, 065 219, 409; 224, 006 Letters of credit and travelers' checks sold ; ; for cash and outstanding 1 21,965 20,499 7, 523i 7,778 14, 442 12, 721 Acceptances executed for customers 486,548 515,046i 257, 929 250, 361 228, 619 264, 685 Acceptances executed by other banks for | ^ | account of reporting banks 53,608 35,917 39, 595' 23, 268 14, 013; 12, 649 National-bank notes outstanding l 647, 951 645, 956 647, 951; 645, 956 United States securities borrowed 43,858j 37, 347 32, 706i 23, 787 11, 152 13, 560 Other securities borrowed 5, 785! 3, 625 3,199 2, 1601 3, 799 Other liabilities ...J 131,650 148, 108 49, 95l| 54, 539 81, 699 93, 569 Total.. '41, 425, 295J42, 029, 644 25, 839, 450 25, 669,069 15, 585, 845 16, 360, 575 * Dec. 31, 1925, figures exclusive of securities borrowed by national banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBER BANKS 149 No. 80.—ALL MEMBER BANKS: RESOURCES AND LIABILITIES, BY CLASS OF BANK [In thousands of dollars] Central reserve Other reserve city Country banks city banks banks Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1925 (83 1926 (82 1925 (549 1926 (5401925 (8,8571926 (8,638 banks) banks) banks) banks) banks) banks) RESOURCES Loans and discounts 6, 201,1826, 369, 7487, 891, 883 8, 221,194 8,299, 713 Overdrafts 2,549 2,992 5,588 5,445 9,385 7,458 United States Government securities 1, 030,185 918, 603 1, 333, 589 1,182, 691 1, 397,291 1, 287, 669 Other bonds, stocks, and securities 867, 931 1, 000, 3121, 567, 801 1, 672, 8072, 727, 434 2, 927, 589 Total loans and investments 8,101,847! 8,391, 655 10, 798,86111,083,137 12,398,808 12,533,439 Customers' liability on account of acceptances 367, 237i 370,150 113,053 128, 998 17,853 13, 797 Banking house, furniture, and fixtures 127, 604| 147, 072 362,241 383, 856 437, 512 467,284 Other real estate owned 3,093 j 2,640 50, 793 52, 487 116, 877 118,600 Cash in vault 81, 998 72, 915 175, 965 156,442 316, 569 293, 239 Reserve with Federal reserve banks 834, 730 746. 303 749, 305 628, 961 626, 013 Items with Federal reserve banks in pro- 882, 969' cess of collection 247,178 470,180 439, 255 125, 656 123,817 Due from banks, bankers, and trust com- 229, 707 panies 238,148 886, 207 845, 946 1, 055, 914 981, 424 Exchanges for clearing house and checks on 213,185 other banks in same place •-- 1, 676, 640 1, 555, 995 415,116 412,154 103, 710 108, 941 Outside checks and other cash items _. 49, 880 67, 323 77, 888 82, 223 31, 292 32,047 Redemption fund and due from United States Treasurer 1,546 1, 723 7,383 7,460 24, 053 23, 602 United States securities borrowed 1 260 5,832 22, 557 5,320 14, 530 Other securities borrowed 1 134 832 2,157 1,328 4,707 Other assets 293, 741 324, 989 101,130 135, 757 40, 211 43, 568 Total . 12, 009, 447 12,154, 912 14, 211, 784 14, 500, 734 15, 204,064 15, 373, 998 LIABILITIES Capital stock paid in 460, 650 501, 880 704,438 745, 786 940, 220 955, 781 Surplus fund 521, 076 571, 290 618, 939 652,021 692, 676 732,038 Undivided profits, less expenses and taxes paid. 227, 722 240,191 214, 903 229, 428 297, 309 315, 898 Reserved for taxes, interest, etc., accrued.. 38,122 45,065 42, 253 44, 720 28, 528 30, 601 Due to Federal reserve banks 83 40| 13, 820 11,556 37, 209 39, 849 Due to banks, bankers; and trust companies 1, 848, 459 1,826,349, 1,814,594 1, 728, 591 506, 417 448, 055 Certified and cashiers' or treasurers' checks outstanding 885, 511 810,797, 231,957 223,190 108.290 107,115 Demand deposits 5, 858, 039 5,913,009 5,880,410 5,772,857 6,086,253 5,952,782 Time deposits 1,169, 855 1,325,229 3,836,548 4,157,526 5,646,625 5,957,104 United States deposits 73, 645 59,428 177,493 132,306 52,993 42,382 Total deposits 9,835,593 9,934,852 11,954,822 12,026,026 12,437,787 12,547,287 Agreements to repurchase United States Government or other securities sold 3,735 5, 910! 2,476 24, 467 870 2,160 Bills payable (including all obligations representing money borrowed, other than rediscounts) 185, 332 149,590i 174,871 242,178 167, 695 164, 533 Notes and bills rediscounted (including acceptances of other banks and foreign bills of exchange or drafts sold with indorsement). 229, 7 195. 33o! 146, 501 161, 337 107, 627 101, 399 Letters of credit and travelers' checks sold for cash and outstanding 18, 795 17,045! 2,928 3,178 242 276 Acceptances executed for customers 356, 369 369,3571 116,086 134, 442 14,093 11, 247 Acceptances executed by other banks for account of reporting banks 44, 850! 28, 578 6, 743 6,320 2,015 1,019 National-bank notes outstanding '.. 30, 356 33, 971 144, 869 146, 679 472, 726 465, 306 United States securities borrowed 6,085 260 20, 3971 22, 551 17, 376 14, 530 Other securities borrowed 342 134! 1, 567' 2,15: 3,876 4,707 Other liabilities 50, 635 61, 4541 59,991 59, 438 21, 024 27, 216 TotaL 12,154, 912J14, 211, 784|l4, 500, 734 15, 204, 064 15, 373, 998 1 Dec. 31, 1925, figures exclusive of securities borrowed by national banks. 38494—27 11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

150 ANNUAL REPORT OF THE FEDEKAL EESEKVE BOAKD No. 81.—ALL MEMBER BANKS: CLASSIFICATION OF LOANS ON JUNE 30, 1925 AND 1926 ALL MEMBER BANKS [In millions of dollars] Loans on securities All other loans T lo o a t n a s l Total S b G o y e m t o b i c v l o e U u i e n g n r r . s a e t n S - d - . S s b e o t a o c o t b n h n u c y d e r d k e r s s d Total T Se o c t u al red b F l y a a n r r m d eal e e O s r s t t e t a h a a t t e l e e r a s s e O n e w c d c t u h i u r s e r u e e e r d n - d - b N b a e u r n m k o s - f Total: 1925 20,799 6,718 243.3 6,474 14,081 2,338.3 11,743 9,538 1926 22,251 7,321 206.7 7,114 14,930 2,649.5 488.9 2,160. 6 12,281 9,375 Central reserve citybanks: New York— 1925 . 4,310 2,250 57.8 2,192 2,061 83.5 1,977 63 1926 4,682 2,351 52.0 2,299 2,331 104.5 0) 104.5 2,227 58 Chicago— 1925 1,198 607 22.4 585 591 34.4 557 23 1926 1,239 634 12.5 621 605 46.5 2.7 43.8 559 21 Other reserve citybanks: 1925 7,466 2,275 87.7 2,187 5,191 1,184.2 4,007 553 1926 . 8,018 2,557 74.5 2,483 5,461 1,323.3 122.0 1,201.3 4,138 544 Country banks: 1925 7,824 1,586 75.5 1,510 6,239 1,036.3 5,202 8,899 1926 8,312 1,779 67.8 1,711 6,533 1,175. 2 364.2 811.0 5,358 8,752 NATIONAL BANK MEMBERS Total: 1925 12,670 3,659 159.2 3,500 9,011 636.5 255.9 380.7 8,375 8,066 1926 .__. 13,413 4,034 130.7 3,904 9,378 725.0 252.1 472.9 8,653 7,972 Central reserve city banks: New York— 1925 2,084 993 31.7 961 1,091 2.5 0) 2.5 1,089 33 1926 2,275 1,082 24.9 1,057 1,193 3.7 0) 3.7 1,189 25 Chicago— 1925 611 253 16.5 236 358 .4 .3 .1 357 14 1926 640 266 7.3 259 374 .7 .3 .4 374 11 Other reserve city banks: 1925 3,995 1,259 52.9 1,206 2,736 94.9 23.4 71.5 2,641 1926 4,183 1,391 44.5 1,347 2,792 111.0 19.9 91.2 2,681 365 Country banks: 1925.._ 5,981 1,154 58.1 1,096 4,826 538.7 232.1 306.6 4,288 7,650 1926 , 6,315 1,296 54.0 1,242 5,019 609.6 231.9 377.7 4,410 7,571 STATE BANK MEMBERS Total: 1925 8,129 3,058 84.2 2,974 5,070 1, 701. 8 3,368 1,472 1926 8,839 3,286 75.9 3,211 5,552 1,924. 5 236.8 1,687. 7 3,628 1,403 Central reserve city banks: New York— 1925 2,226 1,257 26.1 1,231 969 81.0 888 30 1926 2,408 1,269 27.0 1,242 1,138 100.8 100.8 1,038 33 Chicago— 1925 , 588 354 5.9 349 233 34.0 199 1926 599 368 5.2 362 231 45.9 2.4 43.5 185 10 Other reserve city banks: 1925 3,471 1,016 34.8 981 2,455 1,089.3 1,366 184 1926 3,835 1,166 30.0 1,136 2,669 1, 212. 2 102.1 1,110.1 1,457 179 Country banks: 1925 , 1,844 432 17.4 414 1,412 497.6 915 1,249 1926 , 1,997 484 13.8 470 1,514 565.6 132.3 433.3 948 1,181 i Less than $50,000* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBER BANKS 151 No. 82.—ALL MEMBER BANKS: CLASSIFICATION OF SECURITIES, JUNE 30, 1925 AND 1926 ALL MEMBER BANKS [In millions of dollars] Domestic securities Foreign securities All s T e t c o ie u t s a ri l - Total m U G e . r o e S n n v . - t - t m S c y o u , t a u n a t n n i e c - d , - o A th l e l r S F e t o e o ra d f c l k - S o t t o o h c f e k r m o A d e th o s l e l - ti r c Total f B o g o r o o e n v i f g d - n sf s o o e t r t i c h e e u s e ig r , r i n securi- ipal bonds reservecorpo-securi- ern- includties bonds bank rations ties ments ing (total) municipal Total: 1925 8,888 8,388 3,802 1,029 2,785 114.9 275.3 381.4 500.5 327.3 173.2 1926 9,123 8,625 3,744 1,149 2,948 122.5 327.2 334.7 498.0 300.5 197.4 Central reserve city banks: New York— 1925 1,706 1,633 912 192 409 22.8 65.8 31.7 73.3 40.4 32.9 1926 1,716 1,662 902 199 394 25.8 80.2 61.0 54.3 28.7 25.5 Chicago— 1925 307 282 156 41 67 5.2 8.0 4.6 25.9 22.4 3.4 1926 337 325 164 51 84 5.8 10.8 8.8 11.8 8.6 3.1 Other reserve citybanks: 1925 2,866 2,726 1,341 343 703 38.9 134.0 165.9 140.4 92.6 47.7 1926 2,932 2,793 1,325 406 776 41.0 149.9 94.4 139.3 81.8 57.4 County banks: 1925 4,008 3,747 1,394 453 1,606 47.8 67.3 179.1 260.7 171.7 89.0 1926 4,138 3,845 1,353 493 1,693 49.7 86.2 170.3 292.5 181.3 111.2 NATIONAL BANK MEMBERS Total: 1925 5,726 5,363 2,534 594 1,867 74.4 78.7 215.3 362.8 240.7 122.1 1926 5,837 5,465 | 2,466 647 1,948 78.7 90.5 234.1 372.3 225.8 146.5 Central reserve city banks: New York— 1925 950 901 532 98 218 12.5 21.5 19.3 48.8 28.4 20.4 1926-.- 908 872 517 76 215 14.2 24.0 26.7 35.1 19.2 15.8 Chicago— i925 109 95 57 9 21 2.5 1.5 3.5 13.8 12.1 1.7 1926 115 111 62 14 22 2.8 2.8 7.8 3.6 2.1 1.4 Other reserve city banks: 1925 1,496 1,417 780 157 354 21.2 34.3 70.2 78.6 54.8 23.8 1926 1,542 1,457 765 187 369 21.9 39.1 75.0 84.6 50.3 34.3 Country banks: 1925 3,170 2,949 1 1,165 329 1,273 38.2 21.3 122.1 221.4 145.3 76.1 1926 3,273 3,024 j 1,122 370 1,343 39.6 24.4 124.6 248.9 154.0 94.8 STATE BANK MEMBERS Total: 1925 3,163 3,025 1,269 435 918 40.4 196.5 166.1 137.6 86.5 51.0 1926 3,286 3,161 1,278 503 999 43.7 236.6 100.6 125.7 74.7 50.9 Central reserve city banks: New York— 1925 756 732 380 94 191 10.3 44.3 12.3 24.4 11.9 12.5 1926 809 790 385 123 179 11.6 56.2 34.3 19.1 9.4 Chicago— 1925. 198 186 98 32 46 2.6 6.4 1.0 12.0 10.3 1.7 1926...., 222 213 102 37 62 3.0 7.9 1.0 8.2 6.4 1.7 Other reserve city banks: 1925 1,371 1,309 561 186 349 17.7 99.7 95.7 61.7 37.8 23.9 1926 1,391 1,336 560 219 408 19.0 110.7 19.4 54.7 31.5 23.1 Country banks: 1925 838 799 230 124 332 9.6 46.0 57.0 39.2 26.3 12.9 1926 865 821 231 123 350 10.0 61.7 45.7 43.6 27.2 16.4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 83.—ALL MEMBER BANKS: TOTAL LOANS AND INVESTMENTS, BY STATES, 1923-1926 [In thousands of dollars] 1923 1924 1925 1926 Division and State Apr. 3 June 30 Sept. 14 Dec. 31 Mar. 31 June 30 Oct. 10 Dec. 31 Apr. 6 June 30 Sept. 28 Dec. 31 Apr. 12 June 30 Dec. 31 United States 26, 332,193 26, 675, 005 26, 497, 552 26, 738,130 26, 832, 03427, 261, 559 28, 450, 644 29,026, 588 29, 284, 939 29, 702, 525 30, 369, 058 31,199, 516 31, 070, 003 31, 390, 887 31, 896, 221 New England: Maine 135,019 139, 368 140, 71 140, 361 141, 260 142,138 144, 948 146,300 150, 020 150, 603 157,188 155, 524 162, 729 164,155 169,835 New Hampshire.. 57, 728 58,456 58, 940 58, 960 59,435 58,486 59,130 59,966 61, 366 63, 287 65, 670 65,929 65, 709 66, 351 66, 838 Vermont 50, 436 51, 829 52, 120 52, 381 51, 891 53, 001 53, 659 53, 689 54,093 55,485 56, 632 56, 881 58,057 59, 272 61, 623 Massachusetts 1,331,567 1, 375, 9491, 379, 8691, 367, 6021, 335, 3391, 360, 6091, 452, 3211, 457, 2311,478,537 1,512,885 1, 558, 7741, 615, 9731, 597, 3961, 629,156 1, 632, 629 Rhode Island 242, 982 247, 340 251, 904 249, 256 254, 045 259,137 271, 862 273,424 278, 967| 284,369 294,181 304,149 307, 907 306, 849 316,103 Connecticut . 223, 629 230, 261 228, 693 231,808 235,199 229, 694 235,131 227, 111 231,161 232, 766 242, 040 247, 201 252,170 254, 645 264, 943 Middle Atlantic: New York... 6, 802, 4586, 793, 8586, 600, 2366, 825, 3766, 851, 2927, 259, 7587, 666,1707, 926, 5957, 702, 4877, 885, 737 8, 469, 5718, 147, 6658, 388, 8908, 694,985 New Jersey 896, 905 931, 476 947, 338 973,477 977,499 1,006,117 1, 035, 7121, 077, 2821, 099, 4671,150,614 l', 193, 4731, 228, 2401, 250, 3091, 277, 0131, 347,389 Pennsylvania... . 2, 704, 9102, 795, 0952, 769, 6902, 774, 06"2, 832,1302, 899, 6553, 029, 3613, 079, 6473,140, 9903,158, 8153, 223, 73'3, 239, 7703, 325, 2193, 345, 8393, 402, 522 East North Central: Ohio 1,523,101 1,572,060 1, 588, 2311,571,491 1, 597, 9891,611,912 1, 680,1801, 644, 2501, 708, 5331, 731,981 1, 786, 9671, 750, 5421, 796, 8031,819,177 1, 787, 422 Indiana 360, 786 373, 361 369, 324 366, 525 356,867 362, 220 356, 783 364, 696 364, 529 373, 336 377, 69(J 383, 254 381,175 399, 333 394,367 Illinois 2,053, 2892, 038, 3002, 027, 3052,031,951 2, 025, 3652, 095, 9582, 273, 9372, 240, 7702, 233, 5582, 278,126 2,326,241 2,360, 2332, 324, 9452, 391, 7842, 392, 964 Michigan 976, 204 1, 009, 5891, 016, 9061,015,64^ 1,056,027 1,066, 6371, 102, 3381,124,718 1, 175, 5451, 233, 5361, 237, 3221,256,025 1,282,208 1, 303, 2391, 305,230 Wisconsin __. 406, 736 404, 201 398, 731 398, 878 416, 324 410, 773 411,566 413, 943 436, 545 433, 872 437, 55C 441,912 463, 952 459, 883 456,110 West North Central: Minnesota 513, 008 510, 692 515, 522 506, 641 517,966 491, 588 533, 290 560, 274 546, 720 533, 402 537, 583 533, 867 524, 995 521, 915 516, 939 Iowa 429, 340 429, 572 430, 217 431,318 429,186 416, 954 420, 590 416, 056 428, 429 414, 271 415, 564 400, 534 409, 424 387, 924 358,923 Missouri 760, 779 757, 777 764,101 754, 423 751, 697 741, 434 783, Oil 822, 781 839, 478 816, 072 842, 641 871, 650 889, 903 890, 272 871, 746 North Dakota 80,401 80, 371 79, 416 76,006 74, 337 71, 601 71,341 77, 341 81, 769 78, 836 80,185 82, 666 80, 625 75, 071 South Dakota 93,192 93, 969 85, 897 83, 292 70, 054 69, 021 69, 386 72, 082 72, 912 71, 517 72, 046 69,311 >9, 547 67, 563 60, 291 Nebraska 199, 087 201, 251 200, 052 197, 032 184, 543 176, 525 180, 932 182, 647 190, 440 187, 777 185, 931 188, 280 190, 009 178, 927 172,003 Kansas 172,409 176, 965 177, 666 169,187 162, 96" 162, 367 159, 790 169, 413 174, 942 180, 652 184,045 183, 239 182, 371 188, 549 189, 580 South Atlantic: Delaware 41, 714 43, 939 47, 987 46, 911 48,196 49, 659 52, 467 51, 682 54, 151 52, 913 51, 802 52, 676 55,150 54,105 57,188 Maryland 256, 051 260, 694 263, 657 261,092 264,170 261,081 281, 260 276,135 283, 993 296, 854 294, 458 304, 467 306,112 300, 686 303, 412 District of Columbia 102, 743 102, 318 104, 052 104, 633 102,087 101, 380 105, 210 109, 624 113, 092 113,462 111,983 116, 1061 118, 224 117, 547 117,348 Virginia 353, 239 357, 789 360, 030 362, 892 360, 771 358,812 354, 912 359, 670 370,103 365, 552 385, 944 387, 159 374, 845J 375, 729 376, 754 West Virginia 193, 044 199, 736 199, 373 204, 357 204, 766 200, 625 197, 813 200, 920! 195, 170 195, 220 194, 603 201, 473 198, 436J 196, 793 198, 485 North Carolina. __ 184, 637 184, 574 188, 796 192,133 198,122 191, 672' 197,232 198, 732 j 207,149 204, 630 211,485 206, 278 217, 895j 211, 474 202, 385 South Carolina.__ 116, 759 117, 812 117,284 121, 415 122, 384 118, 063 117,956 118, 493 115,488 115,385 116, 650 118, 210 117,819; 114, 754 112, 356 Georgia 240, 275 243, 956 243, 726 255, 834 239, 431 238,166 236,076 238, 335| 243, 931 243, 304 265, 883 254, 367 259, 979 251, 704 244, 834 Florida.... 136,139 133,650 131,889 138,452 151,280 144, 770 150,019 170,446, 216, 850 245, 284 303,241 338, 084 320,934 275, 864 258, 263 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

East South Central: Kentucky 266, 081 273, 031 270, 482 275, 0081 269,240 265, 666 262, 803 271, 458 275, 115; 274, 265 281, 505 285, 811 285, 512 283, 667 291, 708 Tennessee 226, 765 226,199 237,233 247, 8771 241, 480 233, 752 233, 883 233, 027 237, 477 237, 494: 254,180 256, 503 256,101 252,241 253, 722 Alabama 166, 541 165, 086 166, 305 176, 529 174, 382 170, 735 174, 246 180, 339 181, 608 180, 210 188, 483 191, 239 195, 687 194, 363 196,245 Mississippi 58, 068 58, 609 58, 671 60, 792 67, 381 67, 917 68, 651 68, 076 72, 211 73, 3441 80, 925 79, 593 83, 899 82, 025 79, 076 West South Central: Arkansas 112, 691 115,267 115, 352 118, 007 115,093 114, 903 121, 669 119, 805 121,071 122,1281 131, 496 128, 284 127,862 127, 887 118, 320 Louisiana 223, 727 231,331 233, 229 259, 149 244, 000 225, 073 236, 210 247, 708 250, 746 241, 282; 265, 122 286, 941 278, 508 264, 559 277, 594 a Oklahoma 282, 952 285, 623 276, 086 264, 798 256, 647 254, 673 255, 609 255, 306 270, 257 274, 400 285, 492 287, 413 292, 606 299, 723 291,281 c Texas 678, 549 653, 816 689, 474 725, 907 703, 215 657, 207 692, 296 722, 717 744, 928 724, 226 749, 436 757, 374 759, 565 741,511 742,116 Mountain: Montana 104,486 103, 646 102,105 77,007 78, 108 80, 516 83, 979 86,130 86, 854] 88, 335 90, 744 90, 052 90, 955 94,089 Idaho 57, 844 58, 882 57, 962 57, 740 54, 307 53, 677 51, 087 53, 445 48, 023 49, 972 48, 679 53,285 52, 440 51, 629 54,204 Wyoming 48, 061 48, 901 50, 076 47, 902 45, 740 43, 630 34, 049 30, 908 31,147 31, 931 32, 791 33, 368 32, 959 32, 694 34, 376 Colorado 213, 906 217,165 218, 232 216, 318 213,147 209, 451 216, 084 221, 658 222, 334 218, 700 222, 110 213, 639 218, 518 216, 602 222, 722 New Mexico 35, 349 35, 282 34, 734 30,-'" 21,125 21, 893 20, 930 19, 842 20, 669 20, 118 20, 401 20, 283 21, 363 21, 799 23,390 Arizona 28, 644 28, 096 28, 495 29,106 29, 041 27, 789 27, 586 28, 360 28, 261 28, 732 28, 192 28, 419 29, 788 29, 960 29, 938 Utah 74, 841 76, 077 76, 420 74, 261 75, 255 75, 330 77, 301 79, 382 80, 550 77, !"" 78,161 82, 261 80, 091 79, 127 79,465 Nevada 12, 519 12, 617 12, 831 12, 774 12, 822 12, 733 13,132 13,117 13, 500 14, 018 14, 152 14, 678 14, 149 14, 957 15, 379 Paci W fic a : shington 248, 364 254, 657 255, 971 256, 470 262, 930 257, 019 253, 401 258, 808 273, 091 272, 037 273, 669 275, 737 285, 152 278, 037 275, 249 g Oregon 183, 093 186, 137 192, 037 190,316 189,652 184, 453 189, 451 186, 124 189, 993 188, 676 194, 676 194, 995 197, 808 199, 501 200, 056 fed California 1, 671, 1471, 728, 3751, 682, 1491,640,668 1,706,95] 1, 697, 7371, 757, 3571, 838, 2761, 887, 4131, 925, 6091, 983, 4442, 035, 3782, 032, 3672, 049, 633 g g g fed g Or CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 84.—ALL MEMBER BANKS: TOTAL LOANS, BY STATES, 1923-1926 [In thousands of dollars] 1923 1924 1925 1926 Division and State Apr. 3 June 30 Sept. 14 Dec. 31 Mar. 31 June 30 Oct. 10 Dec. 31 Apr. 6 June 30 Sept. 28 Dec. 31 Apr. 12 June 30 Dec. 31 United States 8, 571, 82518, 880, 05818857,10019, 051, 68619,175,71319,264,01919,819,89820,181,30920,389,70220,814,18021,450,37322,275, 28522,006,30822,267,47922,906,550 New England: s Maine 74,406 77, 263 79, 042 78, 797 79, 516 81,354 83,600 83,336 85,451 86, 295 91,122 87,897 87,978 87, 855 91,435 New Hampshire.. 32,381 34,547 34, 894 35,190 34,719 35,033 34,957 35,216 35,894 37,855 38,499 39,376 38, 270 39,393 39,824 Vermont 29, 419 30, 824 30, 831 30,863 30,330 31, 299 31,279 30,895 31,351 32, 743 33,031 33,103 33,613 34,579 35,771 Massachusetts 1, 027, 0551057, 5021067, 5751,058,458 1, 040,2851,025, 7601100, 7461,115,019 1,141,190 1,170, 7491,220,063 1,248,266 1, 204,9681,219,274 1,232,874 Khode Island 133,335 139, 714 144,351 142, 767 143,240 145,972 154,458 152,698 156,858 160,246 170,405 174,848 176, 541 181,267 183,488 Connecticut 149, 256 153, 842 153,496 155,478 159, 933 155,280 156,455 150,856 156,288 159, 567 166,297 171, 703 175, 957 176, 645 185,475 Middle Atlantic: New York 4, 676, 6184670,340 4,566, 6154, 756,3584, 795,5144,961,372 5,130,131 5,383,413 5, 245, 5735,403, 8095,510, 5136,099, 7955, 738,0855, 907,3506,320,337 N Pe e n w n s J y e l r v se a y nia 1, 4 5 9 5 1 4 , , 5 6 1 7 9 71 5 6 1 2 9 9 , , 3 7 2 1 2 7 1,6 5 1 3 8 1 , , 2 5 6 9 2 3 1, 5 6 5 1 5 7 , , 3 1 8 7 7 31, 5 6 6 5 8 8 , , 1 6 3 8 8 01,6 5 8 8 4 4 , , 8 7 0 1 5 2 17 58 2 6 2 , ,3 7 1 8 3 5 1, 6 7 1 3 2 8 , , 7 7 4 7 9 6 1, 6 8 3 1 0 3 , , 4 7 8 8 8 0 1,8 6 4 76 6 , , 1 2 8 6 0 1 1,9 7 1 0 0 8 , , 4 0 8 5 1 4 1, 7 9 5 4 1 2 , , 9 0 4 7 3 0 2,0 77 2 2 9 , , 8 7 7 1 9 9 2,0 79 4 5 9 , , 6 8 1 7 0 1 2, 8 1 6 0 4 4 , , 5 06 92 2 W East North Central: Ohio 1,104, 2261160,787 1,170,437 1,172,944 1,181,401 1,186,933 1220,442 1,203,295 1,256,244 1,286,203 1,338,145 1,324,022 1,344,377 1,369,355 1,358,584 Indiana 244, 642 254,241 252, 398 252,233 249, 552 253,361 245, 774 249,333 252,108 261, 639 262,520 267,546 267,716 284, 884 279,304 Illinois 1, 527, 3391531,728 1,532,190 1, 525,5661, 507,7091,550,923 1686,919 1,631,051 1,629,044 1,701,366 1,753,439 1, 771,1821, 728,1421, 775, 6181,819,656 Michigan 642, 767 655,638 668, 518 654,958 709,882 707, 723 712,907 733,953 757,308 802,479 808,947 827, 523 864,432 911,938 915.434 Wisconsin 308,179 307, 003 302,054 298,885 314,889 307,054 298,450 295,413 316,320 312, 575 312,972 311,495 329,980 322, 534 319, 737 West North Central: Minnesota 393, 850 386, 764 392,078 381,329 389,043 365,444 393,432 399,009 376,457 363,679 366,975 358, 053 346,947 341,163 341,401 Iowa 357,234 353, 890 350,918 359,496 358,171 348,199 344,041 334,645 337,147 324,739 325,033 315,898 317,349 295,389 270,872 Missouri 547,010 540,429 549, 257 541,107 547,817 538,322 574,110 597,457 594,093 572,616 597,358 622, 703 635,232 626,997 620,373 North Dakota 66,146 66,851 66,332 62,397 60,291 58, 242 56,468 53,961 54,118 53,061 54,272 53,479 54,217 54,053 49,941 South Dakota 81,277 82,092 74,100 71,282 58,014 56,468 53,619 54,420 53,627 52,336 51,475 48,406 46,584 45,324 39,389 Nebraska 166,360 165,903 166,610 167,267 156,927 148,567 149,085 149, 508 152,383 150,170 148,986 148,840 148,425 144,294 135,324 Kansas 137,280 141,018 137,611 133,476 129,724 128,116 121, 520 126,394 128,642 132,067 131,261 132,491 133,396 139,266 135,076 South Atlantic: Delaware 25,042 27, 165 31, 525 29, 912 30, 898 32, 362 29, 518 28, 796 32, 687 32,270 32,223 32,550 33, 707 33, 486 36, 748 Maryland 175, 876 179,097 180,450 180,122 186, 589 188, 903 191,167 182, 854 188, 751 199,231 204, 918 211,087 214,190 208, 611 209, 963 District of Columbia _ 68, 969 69, 468 70, 727 72,123 70, 617 70, 744 70, 759 74,266 76,241 80, 059 79,243 83, 410 85, 241 85, 310 86, 638 > Virginia 288, 694 293, 047 295, 534 298, 338 298, 260 299, 935 297, 662 300, 931 312, 016 309,342 328, 527 329,041 316,411 315, 433 315, 521 W West Virginia.... 147, 377 153, 703 153,141 160, 474 157,220 156, 564 155, 383 160, 635 154, 515 155,098 154, 678 160, 848 157, 444 156, 727 160,640 U North Carolina.._ 158,155 159, 348 162, 790 167, 716 172,145 165, 560 172,022 172,276 179, 008 179, 274 183, 361 181, 653 187,237 183, 971 177,898 South Carolina.-_ 95, 576 95, 356 95, 447 97, 698 99, 886 96, 678 96,750 95, 838 94, 735 94, 202 93, 902 94, 464 95, 763 92, 594 87,995 Georgia 210, 099 213, 641 214, 003 225,079 212, 612 211, 480 207, 938 209, 420 213, 436 210, 090 229, 568 218, 686 220, 379 214, 176 207,112 Florida 94, 103 89, 480 87, 934 94,203 105, 975 99,421 100,076 117, 745 152,087 172,766 212, 857 242,046 228, 922 193, 7541 179,834 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

East South Central: Kentucky 191, 636 197, 705 199,119 211,131 208, 329 203, 784 202, 733 209, 704 213, 521 211, 695 218,495 223, 577 222, 722 220,086 224,267 Tennessee 188,601 187, 701 196, 551 206, 390 202, 631 198,027 197, 855 200,226 204,127 203,130 218, 567 220,048 218,052 217,492 218, 775 Alabama 132, 642 131,197 132, 641 141, 445 140,124 135,282 138, 338 142, 102 144, 283 145, 295 150,144 150, 616 156, 775 156, 360 155, 855 Mississippi- 44,716 44,898 45,052 46,875 52,440 52, 571 54, 214 51,892 52, 985 54, 522 61, 991 58, 711 62,660 62,390 58, 275 West South Central: Arkansas __ 93,117 94, 555 95, 763 99,122 96,210 98,336 104, 749 99, 968 99, 630 101, 919 112, 545 108,316 107,181 107,188 99,250 Louisiana 183, 451 187, 609 187, Oil 214, 574 200,721 191,448 204,558 213,141 217,412 208,123 225, 568 244,085 237,073 222, 920 237, 750 O Oklahoma 217, 745 224, 097 217,036 200, 040 196,516 196, 680 196,122 188, 322 194,321 199, 811 207, 381 199,160 198,097 205, 357 190,118 Texas 542, 523 523, 801 560, 220 579, 679 567,849 534,429 564, 214 590, 636 594, 731 582, 657 603, 661 608, 638 610,004 596,444 599,869 O Mountain: 3 Montana 83, 036 82, 369 80,717 69, 372 56,654 56, 979 56,190 55,232 56,103 57,174 58,125 57, 691 57,310 58, 616 58,293 I Idaho.. 47,400 48,153 47,286 45,164 43, 316 41, 659 39, 571 39, 382 36,160 37, 334 36,259 37, 719 37,455 35, 934 36,444 Wyoming 41,444 42,302 42,906 40,750 38, 586 36,070 26, 638 22, 829 22, 970 23,045 23, 593 23, 415 22, 931 22, 441 23,247 Colorado 144,050 145, 580 149, 368 145,858 142, 759 137,397 140, 666 141, 360 141, 265 136, 303 139, 855 133, 829 135, 612 131, 756 135,807 New Mexico 30, 649 30, 769 30, 304 26,153 17, 730 17,945 17, 275 15, 669 16, Oil 15,452 15, 384 14, 336 14,744 14,840 15,117 3 Arizona 22, 445 22, 318 22, 648 22,864 23,253 22, 375 22,134 22, 814 21, 770 22, 248 21,690 21,139 22, 219 21,966 19, 601 Utah 57, 518 56, 885 57,259 55,775 55, 666 55,191 56,026 56, 854 58, 271 57, 283 57, 743 61,902 59, 685 58,488 61, 258 Nevada 9,062 9,037 9,230 9,110 9,048 8,758 8,840 8,730 8,779 9,528 9,540 10,086 9,541 10,299 10, 676 Pacific: Washington 171, 808 177, 952 179,870 176, 025 180,978 178,278 171, 118 170, 209 180, 238 180, 032 183,833 183, 691 186,178 184,249 179,113 Oregon 127, 498 129,433 134,819 130, 518 131,104 127, 511 126, 709 121, 790 122, 607 122,088 126, 639 124, 313 127,716 128, 611 124,072 g California 1,233, 6171, 303, 9771, 288, 5871,253, 7651, 303,8221,294, 7131, 313,1821, 356, 2931, 396, 6781,427, 5741, 460,2351, 509, 5891, 506,2521, 525, 3211, 653, 465 W 3 o g g I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 85.—ALL MEMBER BANKS: INVESTMENTS, BY STATES, 1923-1926 Or [Amounts in thousands of dollars] 1923 1924 1925 1926 Division and Staffe Apr. 3 June 30 Sept. 14 Dec. 31 Mar. 31 June 30 Oct. 10 Dec. 31 Apr. 6 June 30 Sept. 28 Dec. 31 Apr. 12 June 30 ' Dec. 31 United States 7, 760,368 7, 794,9477, 640,4527, 686,4447,656,321 7,997,540 8, 630,7468,845, 2798,895,237 8,888,345 8,918, 6858,924,231 9, 063,6959,123,408 8,989, 671 tr1 New England: Maine 60,613 62,105 61,714 61,564 61,744 60,784 61,348 62,964 64,569 64,308 66, 066 67,627 74,751 76,300 78,400 New Hampshire.. 25,347 23,909 24,046 23,770 24, 716 23,453 24,173 24, 750 25,472 25,432 27,171 26, 553 27,439 26,958 27,014 Vermont 21,017 21,005 21,289 21,518 21, 561 21,702 22,380 22, 794 22, 742 22,742 23,601 23, 778 24,444 24,693 25,852 Massachusetts 304,510 318,447 312,294 309,144 295,054 334,849 351, 575 342, 212 337, 347 342,136 338, 711 367, 707 392,428 409,882 399,755 Rhode Island 109,647 107,626 107, 553 106,489 110,805 113,165 117,404 120, 726 122,109 124,123 123,776 129,301 131,366 125, 582 132,615 Connecticut 74,373 76,419 75,197 76,330 75,266 74,414 78,67" 76,255 74, 873 73,199 75, 743 75,498 76,213 78,000 79,468 o Middle Atlantic: New York 2,125,840 2,123,518 2, 033,6212,069,018 2, 055, 7782,298,386 2,536,039 2,543,182 2,456,914 2,481,928 2,425,775 2,369,776 2,409, 5802,481,540 2,374,648 New Jersey 405,386 411,759 415,745 418,090 409,361 421,405 448,927 464,506 468, 979 474,353 485,419 477,170 477,590 481,142 482,797 i-3 Pennsylvania 1,150,233 1,165, 7731,151,428 1,156,894 1,173,450 1,214,850 1,307,048 1,340,898 1,327,210 1,312,635 1, 313,2561,296,827 1,295,340 1,296,229 1,298,460 East North Central: Ohio 418,875 411,273 417,794 398, 547 416, 588 424,979 459,738 440,955 452,289 445, 778 448,822 426,520 452,426 449,822 428,838 Indiana 116,144 119,120 116,926 114,292 107,315 108,859 111,1 115,363 112,421 111,697 115,176 115,708 113,459 114,449 115,063 Illinois 525,950 506,572 495,115 506,385 517, 656 545,035 587,018 609,719 604, 514 576, 760 572,802 589,051 596,803 616,166 573,308 Michigan 333,437 353,951 348,388 360,691 346,145 358,914 389,431 390,765 418, 237 431, 057 428,375 428, 502 417,776 391,301 389,796 Wisconsin 98, 557 97,198 96,677 101,435 103,719 113,116 118, 530 120, 225 121, 297 124,584 130,417 133,972 137,349 136,373 West North Central: Minnesota 119,158 123,928 123,444 125,312 128,923 126,144 139,858 161,265 170, 263 169, 723 170, 608 175,814 178,048 180,752 175,538 Iowa 72,106 75, 682 79,299 71,822 71,015 68,755 76, 549 81,411 91, 282 89, 532 90, 531 84,636 92,075 92, 535 88,051 Missouri 213, 769 217,348 214,844 213,316 203,112 208,901 225,324 245, 385 243,456 245,283 248,947 254,671 263,275 251,373 North Dakota 14, 255 13,520 13, 084 13, 609 14,046 13,359 14, 873 23,380 27, 651 25, 775 25, 913 29,187 29,472 26, 572 25,130 South Dakota.... 11,915 11,877 11, 797 12,010 12, 040 12, 553 15, 767 17,662 19,285 19,181 20,571 20,905 22,963 22,239 20,902 Nebraska 32, 727 35,348 33,442 29,765 27, 616 27,958 31,847 33,139 38, 057 37, 607 36,945 39,440 41,584 34,633 Kansas 35,129 35,947 40,055 35, 711 33, 243 34, 251 38, 270 43, 019 46,300 48, 585 52, 784 50,748 48,975 49,283 54,504 South Atlantic: Delaware 16, 672 16, 774 16,462 17,298 17, 297 22, 949 22,886 I 21,464 20,643 19, 579 20,126 21,443 20,619 20,440 Maryland 80.175 81, 597 83,207 80,970 77, 581 72,178 90, 093 93,281 95, 242 97, 623 89, 540 93,380 91, 922 92,075 93,449 w Dist. of Columbia. 33, 774 32,850 33, 325 32,510 31,470 30, 636 34,451 35,358 | 36,851 33,403 32,740 32,696 32,983 32, 237 30,710 o Virginia 64, 545 64,742 64,496 64,554 62,511 58,877 57, 250 58,739 I 58, 087 56,210 57,417 58,118 58,434 60, 296 61,233 West Virginia 45,667 46, 033 46, 232 43,883 47, 546 44, 061 42,430 40,285 40, 655 40,122 39,925 40,625 40,992 40,066 37,845 North Carolina.-. 26,482 25,226 26, 006 24,417 25,977 26,112 25,210 26,456 28,141 25,356 28,124 24, 625 30, 658 27, 503 24,487 South Carolina... 21,183 22,456 21,837 23, 717 22,498 21,385 21,206 22,655 ] 20, 753 21,183 22, 748 23,746 22,056 22,160 24,361 Georgia 30.176 30,315 29, 723 30, 755 26,819 26, 686 28,138 28,915 I 30,495 33, 214 36, 315 35,681 39,600 37, 528 37, 722 Florida 42,036 44,170 43, 955 44, 249 45,305 45,349 49,943 52,701 I 64, 763 72, 518 90,384 96,038 92,012 82,110 78,429 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

East South Central: Kentucky 74,445 75,326 71,363 63,877 60,911 61,882 60,070 61, 754 61, 594 62, 570 63,010 62,234 62,790 63, 581 67,441 Tennessee 38,164 38,498 40, 682 41,487 38,849 35, 725 36, 028 32,801 33,350 34,364 35, 613 36,455 38,049 34,749 34,947 Alabama, _ 33,899 33,889 33,664 35,084 34,258 35, 453 35, 908 38,237 37,325 34, 915 38,339 40, 623 38,912 38,003 40, 390 r$ M ississippi 13,352 13,711 13, 619 13,917 14,941 15,346 14,437 16,184 19, 226 18,822 18,934 20,882 21,239 19, 635 20,801 oo West South Central: ^ Arkansas 19,574 20,712 19,589 18,885 18,883 16, 567 16,920 19,837 21,441 20,209 18,951 19,968 20,681 20,699 19,070 JP Louisiana 40,276 43, 722 46,218 44, 575 43,279 33, 625 31, 652 34, 567 33, 334 33,159 39,554 42,856 4i;435 41,639 39,844 I Oklahoma 65,207 61, 526 59,050 64, 758 60,131 57,993 59,487 66,984 75,936 74,589 78,111 88,253 94, 509 94,366 101,163 O I Texas 136,026 130, 015 129, 254 146, 228 135,366 122, 778 128,082 132,081 150,197 141, 569 145, 775 148, 736 149, 561 145,067 142,247 O E^ Mountain: Montana.. 21,450 21,277 21,388 21,248 20,353 21,129 24,326 28, 747 30, 027 29,680 30,210 33, 053 32, 742 32,339 35, 796 Idaho 10,444 10,729 10,676 12, 576 10,991 12,018 11,516 14, 063 11,863 12, 638 12,420 15, 566 14,985 15,695 17,760 Wyoming 6,617 6,599 7,170 7,152 7,154 7,560 7,411 8,079 8,177 8,886 9,198 9,953 10, 028 10,253 11,129 Colorado 69,856 71, 585 68,864 70,460 70, 388 72,054 75,418 80, 298 81, 069 82,397 82,265 79, 810 82, 906 84,846 86,915 New Mexico 4,700 4,513 4,430 4,335 3,395 3,948 3, 655 4,173 4,658 4,666 5,017 5,947 6,619 6,959 8,273 Arizona 6,199 5,778 5,847 6,242 5,788 5,414 5,452 5,546 6,491 6,484 6,502 7,280 7,569 7,994 10,337 Utah 17,323 19,192 19,161 18,486 19, 589 20,139 21, 275 22, 528 22,279 20, 703 20,418 20,359 20,406 20,639 18,207 Nevada 3,457 3,580 3,601 3,664 3,774 3,975 4,292 4, 387 4,721 4,490 4,612 4,592 4,608 4,658 4,703 Pacific- Washington 76, 556 76, 705 76,101 80,445 81,952 78, 741 82,283 88, 599 92,853 92,005 89,836 92,046 98,974 93,788 96,136 ^ Oregon 55, 595 56,704 57, 218 59,798 58,548 56, 942 62, 742 64,334 67, 386 66, 588 68,027 70, 682 70,092 70,890 75,984 g California.. 437,530 424,398 393, 562 386,903 403,129 403,024 444,175 481,985 490,735 498,035 523,209 525,789 526,115 524,312 555,288 g g > 02 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

158 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 86.—ALL MEMBER BANKS: NET DEMAND AND TIME DEPOSITS, BY SIZE OP CITY [In millions of dollars] Net demand deposits Time deposits Banks in cities and towns hav- Banks in cities and towns hav- Last Wednesday ing a population of— ing a population of— in— Total Total 5,000 15,000 100,000 5,000 than to to and than to 5,000 14,999 over 5,000 14,999 912 919 929 943 951 954 959 970 963 982 993 1,001 1,008 oooo 15,000 100,000 to and 99,999 over 1923 April 15,800 1,600 1,065 2,084 11,051 8,251 1,472 1,703 4,164 May i....... 15,893 1,600 1,072 2,060 11,161 8,291 1,480 1,705 4,187 June 15,756 1,584 1,065 2,054 11,053 8,388 1,526 1,716 4,217 July._ 15,708 1,576 1,058 2,042 11,032 1,530 1,743 4,127 August 15,529 1,598 1,059 2,010 10,862 8,436 1,538 1,760 4,187 September.. 15,627 1,651 1,079 2,020 10,877 8,473 1,545 1,765 4,209 October1 15,906 1,686 1,087 2,036 11,097 8,526 1,549 1,783 4,235 November.. 15,897 1,687 1,086 2,023 11,101 8,568 1,556 1,789 4,253 December... 15,830 1,666 1,090 2,054 11,020 8,585 1,553 1,785 4,284 1924 January^-.. 15,943 1,626 1,073 2,047 ! 11,197 8,694 1,569 1,808 4,335 February... 15,846 1,600 1,056 2,037 11,153 8,805 1,575 1,829 4,408 March 15,815 1,582 1,048 2,030 11,155 1,581 1,847 4,467 April i 15,944 1,555 1,049 2,041 11,299 8,975 1,583 1,864 4,520 May 15,980 1,524 1,019 2,021 11,416 9,041 1,585 1,877 4,568 June...: 16,394 1,512 1,022 2,004 11,856 9,148 1.589 1,890 4,653 July i 16,710 1,513 1,012 2,017 12,168 9,269 1,602 1.912 4,736 August 17,040 1,550 1,024 2,034 12,432 9,368 1,617 1,935 4,790 September.. 17,360 1,615 1,044 2.053 12,648 9,517 1,624 1,032 1,941 4,920 October 17,764 1,678 1,067 2,093 12,926 9,675 1,634 1,040 1,958 5,043 November.. 17.947 1,699 1,077 2,132 13,039 9,796 1,640 1,046 1,967 5,143 December i_ 17,957 1,690 1,081 2,144 13,042 9,727 1,637 1,043 1,957 5,090 1925 January 17,927 1,673 1,081 2,170 13,003 9,879 1,669 1,063 1,990 5,157 February 17,888 1,682 1,087 2,212 12,907 10,006 1,678 1,073 2,021 5,234 March 17,503 1,664 1,086 2,225 12,528 10,094 1,685 1,080 2,048 5,281 April i 17,715 1,638 1,088 2,240 12,749 10,187 1,691 1,082 2,044 5,370 May 17,571 1,614 1,078 2,267 12,612 10,335 1,693 1,083 2,086 5,473 June 17,671 1,614 1,078 2,265 12,714 10,407 «1,702 1,091 2,082 5,532 July 17,817 1,624 1,086 2,295 12,812 10,413 1,722 1,096 2,104 5,491 August 17,819 1,669 1,102 >2,301 12,747 110,461 1,727 1,105 » 2,104 «5,525 September i. 18,005 1,741 1,136 2,376 12,752 10,503 1,736 1,113 2,126 5,528 October 18,432 1,779 1,159 2,393 13,101 10,628 1,738 1,116 2,143 5,631 November.. 18,363 1,774 1,159 2,407 13,023 10,692 1,734 1.119 2,150 5,689 December i.. 18,443 81,756 1,160 2,420 13,107 J 10,637 • 1,734 1,114 2,136 5,653 1926 January 18,366 1,721 1,159 2,406 13,080 10,803 1,762 1,130 2,169 5,742 February... 18,261 1,724 1,158 2,399 12,980 10,888 1,775 1,138 2,181 5,794 March i 18,014 1,701 1,140 2,367 12,806 10,970 1,782 1,147 2,192 5,849 April.. 18,064 1,663 1,128 2,355 12,918 11,048 1,783 1,151 2,202 5,912 May 18,138 1,648 1,129 2,348 13,013 11,102 1,783 1,157 2,203 5,959 Junel 18,110 1,635 1,118 2,363 12,994 11,177 1,789 1,157 2,217 6,014 July 18,112 1,653 1,126 2,370 12,963 11,281 1,804 1,164 2,225 6,088 August 18,072 1,664 1,123 2,343 12,942 11,313 1,807 1,175 2,225 6,106 Septemberl. 18,234 1,703 1,144 2,365 13,022 11,352 1,803 1,180 2,244 6,125 October 18,280 1,710 1,143 2,357 13,070 11,402 1,809 1,181 2,261 6,151 November. . 18,216 1,695 1,137 2,342 13,042 11,438 1,803 1,185 2,263 6,187 December... 18,395 1,660 1,129 2,343 13,263 11,430 1,802 1,182 2,238 6,208 * Next to last Wednesday in month. ' Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBBR BANKS 159 No. 87.—MEMBER BANK RESERVE BALANCES AND BORROWINGS AT FEDERAL RESERVE BANKS, BY WEEKS [In thousands of dollars] Reserve balances Borrowings at Federal reserve banks Reporting member Reporting member banks banks Date Other Other member Total member Total New Other banks New Other banks York leading York leading City cities City cities 1926 Jan. 6. 709, 533 977,760 590,830 2,278,123 109,062 301,453 182,954 593,469 13 731, 278 963,010 585,453 2,279,741 104,487 214,528 186,748 505,763 20 707,397 963,198 572,135 2,242, 730 51,177 221,237 180,768 453,182 27. 690,823 957, 756 568,303 2,216,882 37,162 232, 538 178, 857 448,557 Feb. 3. 680,757 954,683 579,753 2,215,193 95, 248 218,913 173,635 487,796 10 709) 104 954,404 575, 542 2.239,050 128,712 229,165 175,495 533,372 17 722,107 962,350 577,801 2,262,258 145,196 222, 528 170; 634 538,358 24 697, 885 938, 554 566,440 2,202,879 141,926 220,735 177,422 540,083 Mar. 3 692,303 958, 217 573,809 2,224,329 119,336 284,379 179,499 583,214 10 699,488 944,641 565,569 2,209,698 103,539 220,782 178,104 502,425 17 717,309 945,132 567, 841 2,230,282 58,348 234,677 187,590 480,615 M J J A S N O u u e u o c a n l p g t y v y e . t . . . 2 2 2 3 2 2 1 1 2 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 8 1 5 4 4 1 7 6 8 2 8 4 2 3 0 1 5 9 2 0 7 9 6 3 9 6 8 5 4 1 0 7 7 3 _ . . __ . _ _ •__ _ . 7 7 6 6 6 7 7 6 6 7 7 6 7 7 6 7 6 6 6 7 7 6 6 6 7 6 6 6 6 6 6 6 6 2 4 9 8 6 8 1 6 8 0 0 8 8 2 3 9 6 0 7 9 8 8 3 6 7 9 0 5 8 4 5 9 6 2 9 3 1 0 2 7 1 4 0 3 1 2 9 9 0 0 0 5 9 9 2 3 4 9 0 7 7 5 5 6 6 4 9 , , , , , . , , , , , , , , , , , , , , , , , , , , , , , , , , , , 4 0 8 6 8 7 1 6 8 4 1 1 2 7 1 1 2 5 1 8 5 7 1 4 0 9 2 5 5 6 3 9 3 6 2 1 6 9 3 3 5 6 7 5 4 6 0 4 3 7 1 1 8 2 4 8 7 7 6 5 7 3 6 7 8 2 9 7 1 6 7 7 9 1 2 0 0 8 1 1 3 9 3 3 3 6 0 9 2 8 0 0 8 6 7 5 7 8 1 9 8 3 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 3 1 2 3 4 2 5 3 6 8 3 3 4 4 5 6 7 5 5 6 6 6 5 5 7 5 6 6 7 7 6 9 6 6 5 0 2 5 4 7 6 0 8 9 8 1 7 4 5 2 0 2 6 2 7 0 8 2 4 6 2 8 5 9 5 2 7 9 6 3 , , , , , , , , , , , , , , , , , , , , , , . , , , , , . , , , , , , 2 1 8 3 1 0 1 4 5 0 5 3 2 9 0 3 2 2 7 9 4 1 0 1 9 0 2 2 5 4 3 5 5 6 5 4 4 4 1 9 6 3 6 8 6 6 7 8 6 0 9 2 8 7 1 0 7 4 9 9 0 1 3 9 5 2 1 0 7 5 9 7 7 3 5 2 1 5 9 7 7 1 2 6 1 1 8 2 7 5 9 2 4 2 2 0 8 1 2 6 3 4 1 2 2 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 5 5 5 5 5 5 5 5 5 5 5 5 6 7 6 7 8 9 7 5 0 8 7 6 7 7 6 6 5 6 7 6 7 7 6 6 7 7 8 7 7 8 7 7 8 7 7 4 2 4 0 0 0 4 1 1 9 3 9 2 1 3 5 7 5 3 0 1 0 8 8 3 2 5 7 4 2 3 , 2 2 4 0 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 4 9 1 7 2 4 1 0 4 1 3 0 0 7 0 1 4 9 9 6 2 1 4 3 8 4 6 0 7 8 3 6 7 7 7 3 6 7 0 4 2 9 5 8 7 5 1 2 1 9 7 5 1 0 2 1 0 0 7 7 2 4 0 8 3 7 4 8 7 3 9 7 8 6 7 3 6 0 0 2 9 4 2 2 9 7 5 0 7 1 1 3 6 7 6 6 3 8 6 8 8 6 5 5 9 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 , , , , , , , , , , , , , , . , , . , , , , , , , , , , , , , , , , , 2 2 1 1 2 1 2 2 2 2 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 2 9 1 1 7 0 9 3 1 8 2 3 9 2 0 1 6 2 1 2 3 1 0 2 4 0 1 3 1 1 4 0 3 0 6 2 3 5 8 6 1 2 1 0 5 3 6 6 5 5 5 0 7 4 5 9 1 8 3 2 3 3 8 8 5 8 7 0 7 9 8 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 2 0 1 8 6 8 2 0 1 4 8 6 2 3 3 8 9 3 6 9 1 4 2 5 7 6 1 1 8 8 4 4 0 3 3 0 2 9 2 8 2 4 0 7 0 8 0 3 0 0 8 0 9 2 8 3 6 5 1 3 8 0 4 3 9 3 5 7 1 5 1 2 1 6 6 7 0 0 0 6 6 9 3 4 9 7 5 2 7 8 8 2 0 2 6 5 0 4 9 6 9 1 6 5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 9 8 9 6 0 1 7 5 3 0 4 6 2 9 4 8 2 8 4 3 9 4 9 5 9 9 0 0 4 4 3 1 6 2 3 8 8 1 4 0 6 5 8 5 5 6 4 4 3 2 4 6 9 8 3 2 7 9 4 1 1 2 3 3 4 0 8 5 1 7 , . , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 3 2 8 6 6 0 3 5 3 6 4 9 3 5 0 0 8 9 9 1 0 7 9 4 2 2 1 7 4 8 5 7 8 7 6 1 2 9 8 4 8 5 2 0 0 3 4 5 2 5 9 4 6 7 4 9 8 2 8 8 4 0 1 4 0 0 5 0 3 6 7 7 6 3 7 8 5 1 5 5 5 1 5 5 1 6 7 5 3 6 5 4 2 9 6 0 5 5 0 7 0 6 5 9 7 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 3 3 1 3 3 3 3 1 1 3 1 1 1 3 1 2 3 4 0 6 1 6 2 6 3 1 1 5 6 0 9 6 0 2 1 3 3 9 4 5 3 7 5 9 9 9 7 9 9 1 0 1 8 6 2 0 6 1 0 5 3 6 6 0 0 4 0 8 8 2 5 0 0 1 1 3 5 0 1 6 5 7 2 8 , 8 , , , , , , , , , , , , , , , . , , , , , , , , . , , , , . . , , , 7 4 8 6 7 2 7 0 2 3 5 5 6 1 2 1 4 3 1 2 0 9 8 6 5 9 3 4 5 6 9 7 8 5 7 6 3 6 5 4 8 7 7 4 1 8 6 3 9 4 6 4 5 5 1 3 2 6 6 8 1 4 4 5 0 0 0 5 4 7 0 2 3 9 2 9 1 2 3 6 6 1 1 3 3 5 3 4 2 4 0 4 2 0 0 7 1 1 3 2 4 6 9 2 0 2 2 2 2 2 2 2 2 2 1 2 2 2 2 2 2 2 2 1 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 0 0 1 0 0 0 0 1 0 0 2 1 0 9 2 2 2 2 1 0 1 8 2 9 2 1 1 0 1 7 1 9 9 9 9 8 1 5 2 3 3 5 6 1 3 9 6 7 1 9 8 1 6 1 3 6 9 0 6 0 1 8 5 4 2 9 0 4 5 4 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 2 5 0 2 3 6 7 7 7 5 1 3 2 0 5 4 3 8 5 5 6 1 2 0 1 2 6 6 8 7 7 5 7 6 9 8 4 8 9 2 3 2 7 4 8 7 9 8 7 0 4 7 2 0 5 7 5 3 2 2 8 1 7 9 4 3 3 4 3 3 9 5 6 5 7 4 6 7 0 9 1 7 9 7 5 9 2 2 8 4 4 7 8 8 8 4 4 5 2 4 5 4 6 7 6 6 4 5 5 5 5 4 4 4 5 4 3 4 5 5 7 6 5 6 5 6 4 6 5 5 6 6 7 6 5 5 5 5 5 6 3 1 1 4 7 4 7 7 7 8 2 4 6 3 9 2 2 8 6 9 2 1 0 8 6 7 1 1 4 1 7 4 1 7 2 3 2 7 3 3 7 9 6 7 9 8 4 8 5 1 5 3 7 6 6 3 1 3 1 6 1 5 2 4 7 4 9 9 5 0 6 4 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 3 5 9 1 8 6 4 9 1 6 2 9 4 5 9 5 4 5 6 6 9 0 6 8 3 3 6 5 2 6 0 9 6 3 1 5 9 4 4 8 6 1 6 0 5 6 1 8 7 3 2 2 8 5 0 2 8 1 3 9 3 6 6 0 3 9 3 3 3 4 4 5 1 7 3 1 1 4 8 1 7 3 3 4 0 5 3 9 9 2 4 2 7 1 6 8 1 7 7 5 0 0 0 0 8 8 4 8 24 672,049 951,697 578, 660 2,202, 406 93, 500 338, 277 195, 827 645,476 Dec. 1 724, 586 953,048 579, 531 2, 257,165 95, 795 349, 731 199,950 604,726 8 714,186 945, 870 570,915 2,230,971 117,509 292,047 195,170 562,307 15 768,479 990,472 594,932 2,353, 883 49, 850 314,803 197, 654 715,424 22 702,992 953,629 561,474 2,218,095 116,900 387, 528 210, 996 710,931 29 716,245 958,296 589, 603 2,264,144 118,000 393,465 199,466 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 88.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES OF ABOUT 700 BANKS, BY WEEKS [In millions of dollars] Loans and investments Net d e e r m n a m n e d n , t t i d m ep e, o a si n ts d Gov- Bo e r r r a o l w re in se g r s v f e r o b m an F k e s d- Loans Investments Reserve with Cash Secured Total Total c o T l u o n o r a i t n t s a i e s e l - s b S g y m e G a o e c t b r e o i u U n o l n v r i - n . - e t - S s d . s b o t a o o t b n h n c y d e d k r s s o A th ll er Total s U m e G e t c . i r e o S e u n n v s . r - i t - - I c a s b O u t n o o r d t n c i h t d k i e s e s s e r s , , - F r b e e a s d e n e r k v r s a e l va in ult Total N m e a t n d d e- Time m G er o e n v n - - t Total g b m G a o e y t b r o i e U n o l v n i - n - . - t S s s O c u e w a u c n t n h r i u s s e d e e r e d e r - - d Yearly average (based on weekly figures): 1921 15, 346 11,980 3,697 667 3,030 8,283 3,366 1,317 2,049 1,263 320 13, 399 10,229 2,940 230 1,261 494 767 1922 15,163 10, 970 3,755 331 3,424 7,215 4,193 1,985 2,208 1,361 286 14,442 10,859 3,372 211 254 121 133 1923 16,413 11, 789 4,005 255 3,750 7,784 4,624 2,457 2,167 1,400 291 15, 341 11, 208 3,950 183 475 268 207 1924 17,266 12, 324 4,348 206 4,142 7,976 4,942 2,427 2, 515 1,544 289 16, 669 12,063 4,453 153 167 83 84 1925 18,905 13,436 5,222 182 5,040 8,214 5,469 2,562 2,907 1,645 288 18, 229 12, 949 5,140 140 302 181 121 1926. 19, 699 14,115 5,601 154 5,447 8,514 5,584 2, 503 3,081 1, 657 287 18, 785 12,989 5,611 185 359 210 149 1926 Jan. 6 19,625 14,181 5,864 176 5,688 8,317 5,444 2,509 2,935 1.687 322 18, 880 13, 305 5,361 214 411 275 136 13 19,489 14,054 5, 733 166 5,567 8,321 5,435 2,513 2,922 1,694 303 18, 805 13,247 5,363 195 319 211 108 20 19, 469 14,024 5,718 161 5,557 8,306 5,445 2, 528 2,917 1,671 289 18, 750 13,174 5,375 201 272 161 111 27 19, 426 13, 949 5,671 162 5,509 8,278 5,477 2,537 2,940 1,649 282 18, 619 13,034 5, 385 200 270 169 101 Feb. 3 19,454 13, 976 5,691 163 5, 528 8,285 5,478 2,550 2,928 1,635 274 18, 641 13,036 5,404 201 314 2;14 100 10 19.496 14, 006 5,673 165 5,508 8,333 5,490 2,549 2,941 1,664 298 18, 683 13,073 5,406 204 358 229 129 2 17 4. 1 1 9 9 , ,4 4 2 2 6 2 1 13 3 , . 9 9 6 3 1 0 5 5 , , 6 5 1 9 1 4 1 16 6 7 4 5 5, , 4 4 2 4 7 7 8 8 , , 3 3 5 3 0 6 5 5, . 4 4 9 6 2 5 2 2 , , 5 5 4 2 1 1 2 2, , 9 9 7 2 1 4 1 1 , , 6 6 3 8 6 4 2 29 7 1 7 1 1 8 8 , , 6 5 3 7 9 3 1 12 3 , , 9 0 3 1 5 7 5 5 , , 4 4 3 2 7 1 2 2 0 0 1 1 3 3 6 6 3 8 2 2 2 2 9 4 1 1 3 3 9 9 Mar. 3. 19, 512 14,009 5,605 170 5,435 8,404 5,503 2,519 2,984 1, 651 278 18,655 13, 008 5,446 201 404 237 167 10 19,421 13,915 5,480 166 5,314 8.4-85 5,506 2,496 3,010 1,644 281 18, 547 12,894 5,455 198 324 183 141 17 19, 644 13,945 5,499 164 5,335 8,446 5, 699 2,698 3,001 1,662 271 18, 860 13,016 5,466 378 293 175 118 24 19, 522 13,947 5,487 163 5,324 8,460 5,575 2,583 2,992 1,647 277 18, 524 12, 743 5, 486 295 419 253 166 31 19, 546 14,051 5,567 164 5,403 8,484 5,495 2,480 3.015 1,655 272 18, 674 12,901 5,477 296 420 214 206 Apr. 7 19,492 13.962 5,514 164 5,350 8,448 5,530 2,523 3,007 1, 622 285 18, 571 12, 761 5,516 294 373 203 170 14 19.497 13,897 5,418 161 5,257 8,479 5,600 2, 555 3,045 1,711 285 18, 697 12,898 5, 505 294 388 256 132 21 19,450 13,871 5,425 162 5, 263 8,446 5,579 2,544 3,035 1, 598 275 18, 602 12, 814 5, 547 241 248 122 126 28 19, 525 13,949 5,454 164 5,290 8,495 5, 576 2,533 3,0.43 1,638 276 18, 625 12, 829 5,555 241 306 192 114 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

May 5 _ 19,599 14,005 5,491 172 5,319 ' 8,514 5,594 2,539 3,055 1,658 277 18,676 II 12,8825,562 232 344 222 122 12 19, 631 13,961 5,463 168 5,295 8,498 5,670 2,563 3,107 1,632 282 18,802 !' 13,0235, 559 220 273 171 102 19 19, 594 13,895 5, 450 163 5,287 8, 445 5,699 2,574 3,125 1,671 274 18,708 |! 12,9685,547 193 289 180 109 26 19, 579 13, 874 5,466 171 5,295 8,408 5,705 2, 589 3,116 1,638 280 18,674 i 12,917 5,571 186 257 142 115 June 2_ 19, 678 13, 962 5, 568 159 5, 409 8,394 5,716 2, 587 3,129 1,660 282 18,869 13, 076 5, 604 189 305 191 114 19, 628 13, 905 5,473 154 5,319 8,432 5,723 2,579 3,144 1,660 284 18,751 12, 980 5, 586 185 232 122 110 19, 738 14, 055 5, 516 150 5, 366 8,539 5,683 2,542 3, 141 1,687 271 18,919 13,130 5,604 185 177 93 84 23_ 19, 601 13, 946 5,563 143 5,420 8,383 5,655 2,508 3,147 1, 665 275 18, 697 12, 901 5, 608 188 256 136 120 30 _ 19, 816 14,135 5,723 148 5, 575 8,412 5,681 2,512 3,169 1,661 277 19, 066 13, 252 5,650 164 288 160 128 July 7_ 19, 711 14, 058 5, 655 145 5,510 8,403 5, 653 2, 495 3,158 1, 669 18, 821 13, 012 5,655 154 389 231 158 14_ 19, 664 14, 009 5,613 144 5,469 8,396 5,655 2,494 3,161 1,668 18, 880 13, 053 5,685 142 297 168 129 21 _ 19, 647 13, 983 5,604 146 5,458 8,379 5,664 2,516 3,148 1,635 276 18, 753 12, 921 5,689 143 280 147 133 28_ 19, 627 13, 975 5,595 148 5,447 8,380 5, 652 2,510 3,142 1,632 18, 680 12, 846 5,691 143 295 178 117 Aug. 4_ 19, 722 14, 075 5, 668 144 5,524 8,407 5,647 2,507 3,140 1,647 270 18, 748 12, 897 5,708 143 326 198 128 11 19, 722 14,110 5,659 145 5,514 8,451 5, 612 2,513 3,099 1,653 281 12,963 5,720 123 337 215 122 19, 685 14, 065 5,603 144 5, 459 8,462 5,620 2,497 3,123 1, 643 269 18, 694 12, 877 5,706 111 330 194 136 25_ 19, 684 14, 069 5,641 145 5,496 8,428 5,615 2,486 3,129 1,630 274 18, 621 12, 835 5,702 349 202 147 Sept. 19, 777 14,179 5, 711 143 5,568 8,468 5,598 2,469 3,129 1,655 268 18, 762 12, 966 5,712 84 412 245 167 8. 19, 803 14,198 5,693 141 5,552 8,505 5,605 2,470 3,135 1,637 289 18, 758 12,962 5,712 84 405 247 158 15- 19, 971 14, 316 5, 740 158 5,582 8,576 5, 655 2,543 3,112 1,767 283 19,211 i 13,270 5,683 258 370 202 168 22 _ 19, 880 14, 259 5,685 147 5,538 8,574 5,621 2,512 3,109 1,658 278 18, 820 12,899 5, 662 259 456 236 220 29_ 20, 029 14, 395 5,755 154 5,601 8,640 5,634 2, 502 3,132 1,658 18, 939 | 13,003 5,674 262 495 275 220 Oct. 6- 20, 023 14, 414 5,717 141 5,576 8,697 5,609 2,491 3,118 1,621 284 18, 971 13, 037 5,671 263 424 215 209 13. 20, 003 14, 407 5,679 137 5,542 8,728 5,596 2,480 3,116 1,642 313 19,119 13,146 5,736 237 503 260 243 20_ 19, 927 14, 364 5,582 138 5,444 8,782 5,563 2, 475 3,088 1,629 286 18, 876 12, 993 5,723 160 396 213 183 27- 19, 892 14, 314 5,541 141 5,400 8,773 5,578 2,467 3,111 1,635 287 18, 792 12, 918 5, 738 136 438 241 197 Nov. 3_ 19, 958 14, 370 5, 590 151 5,439 8,780 5,588 2,462 3,126 1,621 18, 921 13, 021 5,765 135 484 273 211 10- 19, 857 14, 312 5,513 140 5,373 8,799 5,545 2,433 3,112 1,641 293 18,821 12, 936 5,770 115 381 203 178 17- 19, 831 14, 288 5,466 138 5,328 8,822 5,543 2,416 3,127 1, 658 283 18, 812 12, 959 5,772 81 390 220 170 24. 19, 849 14, 325 5,512 146 5,366 8,813 5,524 2,406 3,118 1,624 299 18, 732 12, 884 5,774 74 432 252 180 Dec. 19,897 14, 376 5,566 143 5,423 8,810 5,521 2,397 3,124 1,678 289 18, 903 13, 043 5,786 74 446 261 185 19, 873 14,342 5,538 138 5,400 8,804 5,531 2,398 3,133 1,660 312 18, 778 12, 924 5, 780 74 410 259 151 15- 19, 932 14, 379 5, 615 141 5,474 8,764 5,553 2,391 3,162 1, 759 324 19,159 13, 214 5,782 163 365 235 130 22_ 19, 953 14, 439 5,718 142 5,576 8,721 5, 514 2,337 3,177 1,657 363 18, 885 12, 947 5,775 163 504 321 183 29- 20,110 14, 569 5,852 144 5,708 8,717 5,541 2,323 3,218 1,675 323 19, 037 13, 082 5,792 163 511 301 210 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

162 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 89,—REPORTING MEMBER BANKS IN NEW YORK CITY: PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In millions of dollars] Loans andinvestments Net demand, time, and Government deposits Re- Borserves row- Date Loans Invest- with ings at (Wednesday) ments FederalFederal Net Gov- reserve reserve Total Total se O cu n ri- All Total m d a e n - d Time m er e n n - t bank bank ties other 1926 Jan 6 6,398 4,681 2,412 2,269 1,717 6,170 5,308 808 54 710 109 13 6,279 4,567 2,298 2,269 1,713 6,057 5,198 809 50 731 104 20 6,241 4,529 2,280 2,249 1,712 6,010 5,158 802 50 707 51 27 6,221 | 4,483 2,247 2,236 1,738 5,979 5,120 809 50 691 37 Feb. 3 6,254 4,506 2,271 2,235 1,748 5,976 5,118 809 50 681 95 10 6, 228 4,466 2,233 2,234 1,762 5,957 5,106 802 50 709 129 17 - . 6,180 4,429 2,157 2,272 1,751 5,884 5,034 800 50 722 145 24 6,219 4,426 2,142 2,284 1,793 5,897 5,045 802 50 698 142 Mar. 3 6,251 4,448 2,114 2,333 1,804 5,970 5,124 796 50 692 119 10 6,179 4,380 2,012 2,368 1,799 5,880 5,026 804 50 699 104 17 6,207 4,411 2,067 2,344 1,796 6,003 5,123 812 67 717 58 24 6,183 4,459 2,091 2,368 1,724 5,901 5,030 818 52 722 98 31 6,246 4,531 2,151 2,380 1,715 6,038 5,150 835 52 743 88 Apr. 7 6,179 4,444 2,106 2,339 1,735 5,887 4,999 836 52 683 107 14 6,124 4,341 1,988 2,353 1,784 5,868 5,001 814 52 763 144 21 6,117 4,329 1,981 2,348 1,788 5,882 5,011 828 43 668 16 28 6,192 4,409 2,039 2,370 1,783 5,915 5,039 834 43 712 95 May 5 6,262 4,467 2,065 2,402 1,795 5,923 5,046 836 41 691 128 12 6,191 4,377 1,999 2,378 1,814 5,924 5,060 825 39 682 66 19 6,194 4,374 2,032 2,343 1,820 5,897 5,043 819 34 689 79 26 6,190 4,362 2,039 2,323 1,827 5,924 5,072 819 33 702 55 June 2 6,281 4, 437 2,144 2,292 1,844 6,021 5,161 827 33 730 107 9 6,213 4,353 2,043 2,309 1,860 5,938 5,088 817 33 699 60 16. 6,303 4,458 2,059 2,399 1,846 5,976 5,120 823 33 730 22 23 6,188 4,384 2,108 2,276 1,804 5,903 5,036 835 33 702 36 30 6,371 4,550 2,254 2,297 1,820 6,138 5,262 847 29 709 50 July 7. 6,298 4,477 2,172 2,306 1,821 5,944 5,072 845 27 731 184 14 6,217 4,395 2,106 2,289 1,822 5,894 5,018 851 25 696 104 21 6,203 4,387 2,127 2,260 1,816 5,878 5,001 853 25 682 82 28 6,180 4,378 2,097 2,280 1,802 5,839 4,959 855 25 690 99 Aug. 4 6,257 4,446 2,159 2,287 1,811 5,882 4,997 859 25 681 115 11 6,193 4,404 2,118 2,286 1,789 5,836 4,937 877 22 697 138 18 6,158 4,373 2,083 2,290 1,785 5,794 4,911 863 20 684 100 25 6,192 4,410 2,106 2,304 1,781 5,813 4,936 862 15 655 92 Sept. 1 6,249 4,479 2,147 2,332 1,770 5,893 5,012 866 15 706 122 8 6,229 4,453 2,103 2,350 1,776 5,845 4,980 850 15 685 145 15 6,240 4,491 2,108 2,383 1,749 6,003 5,106 834 63 770 104 22 6,177 4,445 2,061 2,384 1,732 5,838 4,951 824 63 699 137 29 6,293 4,552 2,122 2,430 1,741 5,964 5,077 824 63 699 134 Oct. 6 6,246 4,525 2,059 2,466 1,721 5,902 5,006 833 63 647 91 13 ._ -. 6,185 4,483 2,031 2,452 1,702 5,878 4,988 831 59 668 140 20 6,151 4, 451 1,943 2,508 1,700 5,850 4,979 827 43 665 45 27 6,135 4,430 1,936 2,494 1,705 5,822 4,942 843 37 669 61 Nov. 3. 6,219 4,501 1,969 2,532 1,718 5,878 4,981 860 37 653 94 10 6,129 4,433 1, 905 2,528 1,695 5,833 4,930 872 31 676 52 17 6,146 4,436 1,865 2,571 1,709 5,861 4,962 877 22 691 45 24 6,203 4,487 1,912 2,576 1,716 5,863 4,963 881 20 672 94 Dec. 1 6,279 4,545 1, 961 2,584 1,734 6,005 5,085 900 20 725 96 8 6,258 4,511 1,928 2,584 1.747 5,901 4,974 908 20 714 118 15 6,241 4,516 1,970 2,546 1,725 6,098 5,148 905 45 768 50 22 6,314 i 4,592 2,066 2,526 1,722 6,005 5,060 900 45 703 117 29 6,451 ! 4,710 2,169 2,541 1,741 6,145 5,203 897 45 716 118 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF MEMBER AND NONMEMBEE BANKS 163 No. 90.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY: PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In millions of dollars] Net demand, time, and Loans and investments Government deposits Re- Bor- (W D e a d t n e es- Loans s w F er e i v d t e h - s f F i r n o e g d m s day) Total Total c O u n ri t s i e e - s o A th l e l r I m nv e e n s t t s - Total m N d a e e n - t d Time m G er o e n n v - t - re b e s a r e n a rv k l e re b e s a r e n a rv l k e 1926 Jan. 6... 13,227 9,500 3,452 6,048 3,727 12,711 7,997 4,553 161 978 301 13... 13,210 9,488 3,435 6,052 3,723 12,748 8,049 4,554 145 963 215 20... 13,228 9,494 3,438 6,056 3,733 12, 740 8,016 4,573 151 963 221 27— 13,205 9,466 3,424 6,042 3,740 12,641 7,914 4,576 150 958 233 Feb. 3... 13, 200 9,470 3,420 6,050 3,730 12,665 7,919 4,595 151 955 219 10... 13,268 9,540 3,440 6,100 3,728 12,726 7,967 4,605 154 954 229 13,246 9,532 3,454 6,078 3,714 12, 756 7,983 4,621 151 962 223 24III 13,204 9,504 3,453 6,052 3,699 12,676 7,890 4,635 151 939 221 Mar. 3... 13,261 9,562 3,491 6,071 3,699 12,684 7,883 4,650 151 958 284 10... 13,242 9,535 3,468 6,067 3,708 12,667 7,868 4,650 148 945 221 17... 13,437 9,533 3,432 6,102 3,903 12,856 7,893 4,654 309 945 235 24. . 13, 340 9,488 3,397 6,092 3,852 12,622 7,713 4,667 242 924 321 31... 13, 293 9,514 3,417 6,097 3,779 12,636 7,751 4,642 244 912 332 Apr. 7... 13,313 9,518 3,409 6,109 3,796 12,683 7,762 4,680 241 939 267 14... 13,372 9,556 3,430 6,127 3,816 12, 829 7,896 4,691 242 948 243 21... 13,333 9,542 3,444 6,098 3,791 12, 719 7,802 4,719 198 930 232 28... 13,333 9,540 3,415 6,125 3,793 12,710 7,790 4,722 198 926 211 May 5... 13, 338 9,538 3,426 6,112 3,800 12,753 7,836 4,726 191 967 216 12... 13,441 9,585 3,465 6,120 3,856 12,877 7,963 4,734 181 950 207 19— 13,400 9, 521 3,419 6,102 3,879 12,811 7,924 4,728 158 982 210 26... 13, 389 9,512 3,427 6,085 3,877 12,749 7,846 4,751 152 935 201 June 2... 13,397 9,525 3,423 6,102 3,872 12, 847 7,914 4,777 156 930 193 9... 13,415 9,552 3,429 6,123 3,863 12,813 7,893 4,769 152 960 172 16... 13,434 9,598 3,457 6,141 3,837 12,942 8,009 4,780 152 957 155 23... 13,413 9,561 3,454 6,107 3,851 12,793 7,864 4,773 155 963 220 30. _. 13,446 9,585 3,470 6,116 3,860 12,928 7,990 4,803 135 952 239 July 7... 13,413 9,581 3,484 6,097 3,832 12,876 7,940 4,810 126 938 204 14... 13,447 9,614 3,507 6,107 3,833 12,985 8,034 4,834 117 972 198 21... 13,444 9,596 3,477 6,119 3,849 12,875 7,921 4,837 118 953 198 28... 13,448 9,598 3,498 6,100 3,850 12,841 7,887 4,836 118 943 196 Aug. 4... 13,465 9,629 3,509 6,120 3,836 12,867 7,900 4,849 118 966 211 11... 13,529 9, 706 3,541 6,165 3,823 12,970 8,026 4,843 101 957 199 18... 13,528 9,693 3,520 6,172 3,835 12,900 7,966 4,843 91 959 230 25... 13,492 9,659 3,535 6,124 3,833 12,809 7,899 4,841 69 975 257 Sept. 1—_ 13, 528 9,700 3,563 6,136 3,828 12,870 7,954 4,847 m 949 291 8... 13,574 9,745 3,590 6,155 3,829 12,913 7,982 4,862 69 952 200 15... 13,731 9,825 3,633 6,193 3,906 13,207 8,164 4,848 195 997 266 22... 13,703 9,814 3,624 6,190 3,889 12,982 7,948 4,838 196 960 319 29... 13,736 9,843 3,633 6,210 3,893 12,975 7,926 4,850 199 9C9 3G1 Oct. 6... 13,777 9,889 3,658 6,231 3,888 13,069 8,031 4,837 200 974 333 13... 13,818 9,924 3,648 6,277 3,894 13,241 8,158 4,904 178 974 363 20... 13,776 9,913 3,638 6,286 3,863 13,027 8,014 4,896 117 964 351 27... 13,757 9,884 3,605 6,279 3,872 12,970 7,976 4,895 99 965 377 Nov. 3... 13,739 9,870 3,621 6,248 3,870 13,043 8,040 4,905 98 968 390 10... 13,728 9,879 3,609 6,270 3,849 12, 988 8,005 4,899 84 966 329 17... 13,506 9,672 3,602 6,070 3,834 12,952 7,997 4,896 59 967 346 24... 13,646 9,838 3,600 6,237 3,808 12,869 7,921 4,893 54 952 333 Dec. 1— 13, 617 9,830 3,604 6,226 3,787 12,899 7,958 4,886 54 953 350 8... 13, 615 9,830 3,610 '6,220 3,784 12,877 7,951 4,872 54 946 292 15... 13, 691 9,863 3,646 6,218 3,828 13,062 8,066 4,878 118 930 315 22... 13,639 9,847 3,652 6,195 3,792 12,880 7,886 4,875 118 954 383 29... 13,659 9,859 3,683 6,176 3,800 12,893 7,880 " 4,895 118 958 393 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 91.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS, 1922-1926 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrow- Month Total Loans I m n e v n e t st s - F w ed i e th ral in F g e s d e fr r o a m l Net Govern- reserve reserve On securi- Total demand Time ment bank bank Total ties All other 1922 January... 14, 649,297 11,061,472 3,603,282 7,458,190 3,587,825 13,591, 546 10,361,622 3,017,412 212,512 1,289,232 513,633 February. 14,643,274 10,882,979 3, 557, 692 7,325,287 3,760,295 13,690,071 10, 274, 764 3,034,062 381, 245 1,298,902 373, 634 March 14,571, 582 10,891,515 3,532, 628 7,358,887 3,680,067 13,743,302 10,385,512 3,113,312 244,478 1,318,306 263, 774 April.— .. 14, 642, 584 10,855,724 3,549,079 7,306,645 3,786,860 13,923,431 10, 581,523 3,153,964 187,944 1,323,623 214,765 May 14, 922,947 10,897,872 3, 717, 256 7,180, 616 4,025,075 14,295,135 10,913, 689 3,225,706 155,740 1,381,012 160,881 June 15,196,850 10,874,839 3,800,540 7,074, 299 4,322,011 14, 666,863 11,132,561 3,324,087 210,215 1,404, 536 130,019 July 15, 209,216 10,806,296 3, 786,957 7,019,339 4,402, 920 14, 704,553 11,107,922 3,488,874 107,757 1,414,331 150,927 August- 15, 328,092 10,786,704 3,753,520 7,033,184 4, 541,388 14,757,648 11,001,749 3,570,080 185,819 1,370,119 115,256 September.. 15,400,530 10,910,499 3,800,496 7,110,003 4,490,031 14,807,515 11,070,850 3, 578,941 157, 724 1,357,315 145, 246 October. _._ 15, 686, 955 11,180,882 3,952,207 7,228, 675 4, 506,073 15,019,356 11,223,182 3,599,075 197,099 1,412,028 239,924 November. 15, 771, 431 11,236,398 3,995,346 7,241,052 4, 535,033 14,956,677 11,116,177 3,649,643 190,857 1,378,704 376,374 December.. 15, 961,141 11, 279,106 4,015,270 7,263,836 4, 682,035 15,160,439 11,140, 910 3,695,434 324,095 1,382, 642 391,895 1923 January.. 16, 290, 731 11,495,076 4,084,822 7,410,254 4, 795, 655 15, 517,468 11,555,731 3, 728,383 233,354 1, 450, 316 342, 789 February. 16, 284,015 11, 529, 797 4,011,362 7,518,435 4,754,218 15,378,628 11,517,058 3, 749,700 111,870 1,436,782 401, 506 March 16,426, 534 11, 722,846 4,005,956 7,716,890 4, 703,688 15,401,511 11,278, 691 3,904,600 218,220 1, 407, 370 417,098 April 16, 505, 592 11,841,240 4,059,828 7,781,412 4, 664,352 15,485,786 11,209,385 3,966,551 309,850 1,400,095 419,887 May 16, 548,606 11,915,540 4,106,123 7,809,417 4,633,066 15,478,374 11,217,573 3,984,476 276,325 1,411,363 454,959 June 16,490,806 11,818,318 4,044,924 7,773,394 4,672,488 15,370,249 11,172, 561 3,996,458 201, 230 1,403,236 466,353 July.... 16, 468,104 11,820,683 4,038,384 7, 782,299 4, 647,421 15,352,281 11,193, 732 3, 981,136 177,413 1,404,963 551,957 August . 16, 271, 434 11,704,392 3,883,322 7,821,070 4,567,042 15,081,272 10,964,659 3,980,524 136,089 1,368,923 515, 577 September. 16, 377, 721 11,844,861 3,914, 747 7,930,114 4,532,860 15,170,945 10,989,096 4,011,374 170,475 1,363, 207 544,600 October 16,472,372 11,952,934 3,936,908 8,016,026 4, 519,438 15,284,479 11,105,149 4,022,858 156,472 1,383,514 584,684 November. 16, 394, 951 11,913,331 3, 943, 570 7,969, 761 4,481, 620 15,269,136 11,167, 640 4,033,075 68,421 1,384,598 504,785 December.. 16, 437,926 11,933,780 4,030,245 7,903, 535 4,504,146 15,297,803 11,125,297 4,058,306 114, 200 1,385, 269 501,886 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

January 16,430,049 11,923,131 4,139,774 7, 783,357 4,506,918 15, 554, 032 11,296,110 4,111,301 146,621 1,435,766 346, 640 February.. 16,408,369 11,917,922 4,062,180 7,855,742 4,490,447 15, 551, 542 11,270,372 4,152, 956 128,214 1,410,205 284,930 March 16,513,158 12,027,630 4,070,134 7, 957,496 4,485, 528 15, 664, 451 11, 277, 731 4, 203, 674 183,046 1,438,227 244,732 April 16, 614, 621 12,079,125 4,107,062 7,972,063 4, 535,496 15, 772, 601 11,295,467 4,255,095 222,039 1,441,874 257,981 May 16, 645, 253 12,014,932 4,110,028 7,904,904 4, 630,321 15, 879, 253 11,420,104 4,310, 623 148, 526 1,452,125 185,441 June 16,824, 591 12,068,081 4,200,066 7,868,015 4, 756, 510 16, 242, 410 11, 768,400 4,366,942 107,068 1, 542,395 130,684 July _. 17,128,898 12,210,024 4,368,149 7,841,875 4,918,874 16, 680, 677 12,109,060 4,463, 735 107,882 1,561,082 88, 632 August 17,449,801 12,406,459 4,467,283 7,939,176 5,043,342 17, 031, 511 12,389, 510 4, 546, 286 95,715 1,598,409 61,389 September. 17, 767, 515 12, 542, 531 4, 558,047 7, 984,484 5,224,984 17, 387, 624 12, 623,874 4,607,136 156, 614 1,648,078 83,240 October 18,242,063 12, 780,846 4,608,015 8,172,831 5,461,217 17,871,211 12,930,829 4, 725, 504 214,878 1, 647,495 86,290 November. 18,426,428 12,833,850 4,622,863 8, 210, 987 5, 592, 578 18, 073, 351 13,074, 771 4,836,602 161,978 1, 641,101 74,504 December.. 18, 577,000 12, 993, 447 4,800,424 8,193,023 5, 583, 553 18,151, 740 13,178, 657 4,826,448 146, 635 1, 693,526 144,887 January 18, 628,853 13, 091,828 4,890,355 8, 201, 473 5, 537,025 18, 201,306 13,197, 990 4,861, 660 141, 656 1,666,075 108,187 February._ 18, 556,694 13,135,345 4,935,470 8,199,875 5,421,349 18,063, 266 13, 015,026 4,927, 874 120,366 1,658,762 217,511 March 18, 636, 470 13,209,931 5,002,268 8, 207,663 5, 426, 539 18,054,409 12, 862, 350 4, 976, 551 215, 508 1, 629,875 234, 465 April 18, 657,362 13,166,655 4,978, 675 8,187, 980 5,490, 707 18,052,169 12, 738, 365 5,057, 549 256,255 1, 610,739 229,062 May 18,614,818 13,139,269 5,048,081 8, 091,188 5,475,549 18, 040, 588 12, 737, 046 5,139,995 163, 547 1,615,409 191,033 June 18, 711,082 13,193, 762 5,168,360 8,025,402 5, 517,320 18, 096,140 12, 799, 925 5,172, 833 123,382 1, 625,344 237,540 July 18, 782,062 13,279,813 5,249,382 8,030,431 5, 502,249 18,168, 985 12, 916, 458 5,167, 590 84, 937 1,629, 775 263,912 August 18, 835, 550 13,357,100 5,256,466 8,100,634 5, 478,450 18,072,020 12, 825,457 5,189, 864 56, 699 1, 643,284 351,250 September. 19, 040, 022 13,596,256 5,324, 789 8,271,467 5,443, 766 18, 220,338 12, 886,390 5,201, 888 132,060 1, 642,306 403,363 October 19,318, 582 13,865,484 5,432,529 8,432,955 5,453, 098 18,486, 231 13, 080,124 5,270, 565 135, 542 1, 655,273 437,147 November. 19,437,462 14,005,854 5,569,230 8,436, 624 5,431, 608 18, 588,442 13,180,126 5,343,268 65,048 1,670,445 411,206 December.. 19, 547,025 14,095,924 5, 716,990 8,378, 934 5,451,101 18, 658,901 13,167, 785 5,326,265 164, 851 1, 687,694 491,058 1926 January 19, 502,192 14,051,875 5,746, 556 8, 305,319 5,450,317 18, 763, 871 13,190, 074 5,371, 083 202,714 1,675,189 317,911 February. __ 19,449,638 13, 968,326 5, 642, 218 8,326,108 5,481,312 18, 634, 505 13, 015,349 5,417, 272 201,884 1,654,961 350,606 March 19, 529, 241 13,973,484 5, 527, 558 8, 445, 926 5, 555, 757 18, 651, 774 12, 912,369 5,465, 859 273, 546 1,651,785 371,995 April 19,491, 054 13, 919, 717 5, 452, 585 8, 467,132 5, 571, 337 18,623,847 12, 825, 259 5, 530,881 267, 707 1, 642,279 328,610 May 19, 601, 054 13, 934, 040 5, 467, 783 8, 466, 257 5,667,014 18, 714, 946 12,947,454 5, 559, 808 207, 684 1,649,745 290,487 June 19, 692, 233 14, 000,573 5, 568, 324 8, 432, 249 5, 691,660 18,860,172 13, 067, 727 5,610,208 182,237 1, 666,473 251,755 July....____ 19, 662, 268 14, 006,436 5, 617, 050 8,389,386 5, 655,832 18, 783, 490 12, 958, 017 5, 679,967 145, 506 1,650,974 314,954 August 19, 703, 237 14,079, 748 5, 642, 847 8,436, 901 5,623,489 18, 717, 656 12, 893,170 5, 709, 221 115,265 1,643,316 335,443 September . 19,892, 002 14,269, 477 5,716, 784 8, 552,693 5,622, 525 18,898,067 13,020,182 5,688,477 189,408 1, 677,127 427,622 October 19, 961, 066 14, 374, 773 5, 629,395 8, 745,378 5,586,293 18,939, 697 13,023, 611 5,716, 990 199,096 1,631, 735 440,298 November. 19, 873, 940 14,324,082 5,520,611 8,803,471 5, 549,858 18, 821, 548 12, 949, 837 5,770,369 101,342 1,636,134 421,849 December.. 19,953,175 14,420,939 5, 657, 774 8, 763,165 5, 532, 236 18,952, 818 13, 042,099 5,783,171 127,548 1,685,561 447,126 OS Or Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 92.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS, 1922-1926 [Corresponding figures for New York City are given on p. 262] [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits > tr1 Month Reserves Borrow- Loans Invest- with ings from be Total On ments Total de N m e a t nd F re b e s d a e n e r k r v a e l F re b e s d a e e n r k r v a e l | Total securities All other 1922 January 9,887,248 7,488,433 2,223,910 5,264, 523 2,398,815 8,925, 755 6,075, 669 2,715,264 134,822 708, 524 421,772 H February 9,900,412 7,382, 670 2,224,180 5,158,490 2,517,742 8, 796,717 5,835,642 2, 718,830 242,245 727,495 303,065 March 9,884,078 7,381,711 2,190,678 5,191,033 2,502,367 9,105,199 6,169,401 2,779,003 156,795 734,426 243,227 fcr April 9,859,952 7,329,823 2,153,802 5,176,021 2,530,129 9,152,446 6, 243, 692 2, 790,363 118,391 732,275 191,373 May 9,990,779 7,348,319 2,193,075 5,155,244 2, 642,460 9,336,758 6,410, 513 2,824,708 101, 537 756,833 145,860 June 10,096,781 7,306,578 2,207,188 5,099,390 2, 790,203 9, 530, 618 6,494,380 2,892,175 144,063 761,509 110,780 b July 10,133,437 7,309,893 2,227,855 5,082,038 2,823,544 9,627,959 6, 626,225 2,928,023 73,711 778,411 99,423 ft August 10,282, 789 7,334,657 2,251,306 5,083,351 2,948,132 9, 725,976 6,641,319 2,968,511 116,146 773,723 95,699 September 10,397,701 7,438,702 2,272,815 5,165,887 2,958,999 9,845, 620 6, 730,117 3,011,637 103,866 784,040 120,909 tr1 October 10,622,400 7, 636,462 2,367,999 5,268,463 2,985,938 9,999,457 6,821,703 3,052,443 125,311 788,897 167,909 November 10, 730,877 7,701,058 2,393,864 5,307,194 3,029,819 10,005,088 6,793, 238 3,095,658 116,192 787,128 254,248 December 10,877,028 7,740,950 2,427,175 5,313,775 3,136,078 10,141,558 6,816,251 3,156,929 168,378 798,380 279,171 XL 1923 January 10,986, 271 7,817,272 2,442,772 5,374,500 3,168,999 10,418,154 7,072,204 3, 216,383 129,567 834,460 191,602 February 11,047,458 7,871,384 2,421,149 5,450, 235 3,176,074 10,386,691 7,062,537 3,255,500 68,654 828,868 218,959 March 11,185,912 8,009,904 2,458,638 5, 551,266 3,176,008 10,439,069 7,009,834 3,300,744 128,491 824,884 273,041 1 April... 11,264,859 8,097,747 2,492, 676 5,605,071 3,167,112 10,497,199 3,330,509 179,857 820,301 297,100 May 11,340,417 8,180,956 2,533,567 5,647,389 3,159,461 10,525,608 7,015,968 3,337,114 172,526 826,144 336,223 June 11,330,488 8,154,331 2,514,395 5, 639, 936 3,176,157 10,462,086 6,961,685 3,361,519 138,882 816,546 360,211 July 11,294,549 8,147,783 2,512,102 5,635, 681 3,146, 766 10,447,001 6,964,093 3,355,191 127,717 822,322 409,237 August 11, 252, 569 8,140,845 2,500,783 5, 640,062 3,111,724 10, 364,584 6,893, 954 3,370,345 100,285 804,836 380,290 September 11,318,463 8,212,134 2, 512,627 5,699, 507 3,106,329 10,402,656 6,879,948 3,391,881 130,827 802,466 419,480 October 11,367,968 8, 286,062 2,530,577 5,755,485 3,081,906 10,431,417 6,899,955 3,409,654 121,808 805,166 463,606 November 11,325,368 8,286,120 2,536,467 5,749, 653 3,039,248 10,397, 235 6, 910,929 3,432,621 53,685 810,378 428,667 December 11,332,335 8,273,194 2,556,844 5,716, 350 3,059,141 10,424,812 6,891,129 3,449, 653 84,030 810,041 425,283 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 11,245,111 8,197,045 2,576,336 5, 620,709 3,048,066 10, 564,134 6,956,291 3,501,090 106, 753 821,733 262,127 February ___ 11,225,794 8,192,473 2,558,283 5, 634,190 3,033,321 10, 589. 683 6,941,359 3, 555,027 93, 297 822,914 203,866 March 11,296,544 8,239,958 2,569,561 5, 670, 397 3,056,586 10,626,349 6,905, 504 3,584,730 136,115 820,920 208,294 April 11,356,448 8,298,230 2,594,897 5,703,333 3,058,218 10, 676, 702 6,904,507 3,604, 565 167,630 820,841 212,915 May 11,346,885 8,277,176 2,596,486 5,680, 690 3,069, 709 10, 720, 285 6,952, 573 3,655,446 112, 266 163,660 June 11,304,247 •8,199,736 2,549,309 5,650,427 3,104,511 10, 782,188 6,988,114 3, 709,167 84, 907 852,400 124,560 J A u u l g y u _ s . t 1 11 1 , , 4 6 4 1 1 0 , , 6 9 4 8 2 8 8 8, , 3 2 1 1 4 7 , , 2 8 4 6 4 7 2 2 , , 5 6 8 3 3 7 , , 3 1 7 2 6 6 5 5, , 6 6 7 3 7 4 , , 1 4 1 9 8 1 3 3 , , 2 2 2 9 3 6 , , 7 7 7 4 5 4 1 1 1 1 , , 0 23 4 6 0 , , 1 3 4 4 0 2 7 7 , , 1 3 7 2 1 8 , , 9 6 5 4 0 2 3 3 , , 7 8 7 2 8 8, , 5 8 3 9 1 6 8 7 9 9 , , 1 2 6 9 9 4 8 88 6 7 7 , , 5 9 0 2 8 7 5 7 3 5 , , 7 1 8 3 9 6 u September 11, 847,901 8,436,858 2,690,943 5, 745, 915 3,411,043 11, 502, 608 7,499,315 3, 871,901 131,392 912, 503 61,001 October 12,135,048 8, 590, 756 2,738,133 5, 852, 623 3, 544, 292 11,808,545 7, 693, 562 3, 938,053 176, 930 914,399 58,166 M November 12, 246, 377 8, 630,171 2,736,793 5, 893, 378 3, 616, 206 11, 932, 629 7, 789, 960 4,011, 601 131, 068 938,356 59,344 H December 12, 352, 261 8, 683,640 2,796,870 5, 886, 770 3, 668, 621 11,941,172 7, 806, 623 4, 012, 480 122, 069 109,573 M o 1925 January 12, 420, 515 8, 742,362 2,866, 953 5, 875, 409 3, 678,153 12,057, 791 7, 876,095 4,061,589 120,107 946,830 76,114 February 12,496,393 8, 843, 814 2,908,499 5,935,315 3, 652, 579 12,121,140 7, 880,962 4,137,146 103,032 936,153 93,461 March 12, 617,079 8, 943, 945 2,972, 721 5, 971, 224 3, 673,134 12,190,121 7, 819, 681 4,190,105 180,335 929,333 125, 865 g April __;;_;_;;; 12,612,004 8, 904, 536 2, 973, 375 5, 931,161 3, 707, 468 12,132, 292 7, 680,026 4, 240,090 212.176 919, 422 162,120 fed May 12, 584,088 8,892,775 3,027,956 5, 864, 819 3,691,313 12,126, 663 7,691,027 4,300, 553 135,083 923,494 134,383 g June ___ 12, 675, 218 8, 970,454 3,116, 722 5, 853, 732 3, 704, 764 12, 213, 363 7, 756,405 4,352, 513 104,445 936, 643 158,475 W July " 12, 749,071 9,052,034 3,166,065 5, 885, 969 3, 697,037 12, 286, 696 7, 830,192 4,382,015 74,489 937,947 188, 255 td August 12, 828, 217 9,139, 631 3,203,746 5, 935, 885 12, 282, 960 7, 830,452 4,402, 582 49,926 949, 582 226, 924 W September 12, 985, 309 9, 289,738 3,244, 294 6,045,444 3, 695, 571 12,392,934 7, 876,970 4, 413,026 102, 938 940,039 257, 758 October 13,169,026 9,457,827 3,318, 874 6,138, 953 3, 711,199 12, 561,466 7,972, 865 4,485, 424 103.177 956,395 313,122 November 13, 217,158 9, 524, 335 3,395,322 6,129,013 3, 692, 823 12, 587,126 7, 973, 357 4, 564,947 48, 822 961,276 313,327 December 13, 269,385 9,534,032 3,433,029 6,101,003 3, 735, 353 12, 622,049 7, 963, 899 4, 534,092 124,058 957, 589 354,124 1926 January 13, 217,452 9,486, 931 3,437, 359 6,049, 572 3, 730, 521 12, 709, 982 7, 994,123 4, 564,081 151, 778 965,431 242,439 February 13, 229,496 9, 511, 503 3,441, 637 6,069, 866 3, 717, 993 12, 705, 618 7, 939, 532 4, 614,197 151,889 952,498 222,835 g March. _ 13, 316,110 9, 527,841 3,440, 610 6,087, 231 3, 788, 269 12, 693, 394 7,821,639 4, 652, 525 219,230 936, 878 278,442 td April 13, 337, 959 9, 538, 929 3,424, 255 6,114, 674 3, 799,030 12, 735, 742 7, 812, 623 4, 702,860 220, 259 935,860 238,281 g W J M un ay e 1 1 3 3, , 3 4 9 2 1 0 , , 9 9 3 0 5 7 9 9, , 5 5 3 6 8 4 , , 3 9 0 8 3 2 3 3 , , 4 4 4 3 6 4 , , 1 6 8 0 0 7 6 6, . 1 1 1 0 7 4 , , 6 8 9 0 6 2 3 3 , , 8 8 5 5 2 6 , , 9 6 2 3 5 2 1 1 2 2 , , 7 8 9 6 7 4 , , 9 89 7 1 0 7 7 , , 89 2 9 , 3 1 4 5 ,0 4 84 4 4 , , 7 7 3 8 4 0 , , 9 2 5 2 62 1 1 7 5 0 0 , ,2 8 4 9 5 4 9 95 5 2 8 , , 5 6 2 8 9 4 2 19 0 6 8 , ,4 8 8 1 4 1 fed July 13,437, 826 9, 597,098 3,491,476 6.105, 622 3, 840, 728 12, 894, 660 7,945, 583 4, 829,206 119,871 951,417 197,725 August 13, 503, 320 9, 671, 571 3,526,212 6,145, 359 3,831, 749 12, 886, 530 7, 947, 876 4,843,867 94,787 964,171 224,147 W September 13, 654,395 9,785, 393 3,608,494 6,176, 899 3, 869,002 12,989,158 7,994, 795 4,848, 831 145, 532 965, 294 299,449 3 October 13, 781, 837 9,902, 614 3,637, 288 6,265, 326 3, 879, 223 13,076, 639 8,044, 827 4, 883,138 148, 674 969,406 355,892 November 13, 699, 690 9, 859, 666 3, 608,031 6, 251, 635 3, 840,024 12, 962, 913 7, 990, 791 4, 898,171 73, 951 963,186 350,687 w December 13, 644,289 9, 845, 918 3, 639,043 6, 206, 875 3, 798, 371 12,922,009 7, 948,148 4, 881,382 92,479 960, 263 347, 515 0Q Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALL REPORTING MEMBER BANKS BILLIONS OF DOLLARS ( END OF MONTH FIGURES ) BILLIONS OF DOLLARS 00 22 22 d w O o w 5 o o tei 10 w o Investments .Loans on Securities bd time Deposits o 1919 1920 1921 1922 1923 1925 1926 NOTE - "Jnvestmenia", 7\ll Other Loans': and'Total Loa/is!' estimated prior to 192J Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN BOSTON DISTRICT MILLIONS OF DOLLARS MILLIONS OF DOLLARS ( END OF MO/VrH F/GOflES ) 1400 1200 1200 1000 1000 \ g 800 800 600 600 w o 5 400 400 200 200 Time Deposits 1919 1920 1921 1922 1923 1924- 1925 CD Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN NEW YORK DISTRICT MILLIONS OF DOLLARS f END OF MONTH FIGURES ) 90001 8000 8000 2 7000 7000 w s 6000 6000 5000 5000 3 w fed 4000 4000 fed 3000 3000 s 2000 2000 fed § Loans on Securities 1000 Time Deposits - 1000 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN PHILADELPHIA DISTRICT MILLIONS OF DOLLARS ( END OF MONTH FIGURES) MILLIONS OF DOLLARS 11400 1200 1200 1000 1000 800 600 600 w Q 400- 400 \ CQ 200 200 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN CLEVELAND DISTRICT MILLIONS OF DOLLARS „ ( END OF MONTH FIGURES ) MILLIONS OF DOLLARS fcO 2200 12200 2000 -^^-2000 1800 1800 1600 1600 1400 1400 1200 1200 1000 1000 800 800 600 600 g""""^ ^ I nycstfr?j?n ts J Loans on Securities 400 400 200 200 1919 1920 1921 1922 1923 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN RICHMOND DISTRICT MILLIONS OF DOLLARS ( END OF MONTH F/GURBS ) MILLIONS OF DOLLARS 8001 1800 700 700 600 600 I 3 j 500 500 g 4-00 400 i \ w 300 300 W All Other Loans o B3 200 200 Time Deposits 100 100 10 1919 1920 1921 1922 1923 1924 1925 1926 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN ATLANTA DISTRICT MILLIONS OF DOLLARS ( END OF MONTH FIGURES ) MILLIONS OF DOLLARS 800 1 [800 700 700 1 600 600 500 500 400 400 o 300 300 tr1 200 200 100 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN CHICAGO DISTRICT MILLIONS OF DOLLARS I END OF MONTH FIGURES ) MILLIONS OF DOLLARS 32001 J32OO 2800 2800 Loans & Investments 2400 2400 2000 2000 1600 1600 1200 1200 n 800 800 400 400 1919 1920 1921 1922 1923 1924- 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN ST. LOUIS DISTRICT M 8 I 0 LL 0 IO I NS OF DOLLARS ( END OF MONTH FIGURES ) MILLIONS OF DOL 8 L 0 AR 0 S 700 700 600 600 500 500 400 400 300 300 W 200 Time Deposits^ 200 Loans on Securities 100 100 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN MINNEAPOLIS DISTRICT MILLIONS OF DOLLARS ( END OF MONTH FIGURES) MILLIONS OF DOLLARS 500 1500 450 400 400 350 3 300 300 o g 250 200 200 o 150 100 Loans on Securities 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN KANSAS CITY DISTRICT MILLIONS OF DOLLARS ( END OF MONTH FIGURES ) MILLIONS OF DOLLARS 00 800 1 800 700 700 600 600 i 500 500 W 400 300 tel 200 200 tel or—^ /Vy^V 100 Loans on Securities- 1919 1920 1921 1922 1923 1924- 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS I_N DALLAS DISTRICT MILLIONS OF DOLLARS ( END OF MONTH FIGURES ) MILLIONS OF DOLLARS 500 15QO 450 450 S 350 j Q 300 300 g 250 250 200 200 j W All Other Loans o 150 W 100 Time Deposits-yN, ^ 1919 1920 1921 1922 1923 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN SAN FRANCISCO DISTRICT t M 8 I 0 L 0 LI I ONS OF DOLLARS ( END OF MONTH FIGURES ) MILLIONS OF DOL 1 L 1 A 8 R 0 S 0 1600 1600 1400- 1WO r 1200 O 1000 1000 800 800 600 600 GO 400 MX) g 200 200 1919 1920 1921 1922 1923 1924 1925 1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 181 BANK DEBITS No. 93.—DEBITS TO INDIVIDUAL ACCOUNTS, BY BANKS IN 141 PRINCIPAL CITIES, BY MONTHS Debits on the books of reporting banks to accounts of individuals, firms, and corporations, and of the United States Government including war loan deposit accounts, also debits to savings accounts, payments from trust accounts, and certificates of deposits paid. Figures do not include debits to the accounts of other banks or in settlement of clearing-house balances, payment of cashiers' checks, charges to expense and miscellaneous accounts, corrections, and similar charges. Monthly figures are derived from weekly reports by prorating the figures for those weeks which do not fall entirely within a single calendar month 141 CITIES [In thousands of dollars] Total Month 1926 1925 1924 1923 1922 i 1921 i 1920 i January 54,118,534 49, 959,035 41,498, 264 41, 752, 913 34, 943, 664 38,028,836 45,367,303 February... 44,892,403 41,495,772 37,397,792 35,925, 212 30, 585,310 29,728,424 35,787,840 March 56,439,629 47, 601, 032 40,739,481 42,185,143 36, 932,274 33,903,259 43,431,173 April 51, 811, 316 44, 537, 384 39, 518, 668 39,294,408 36,388,040 32,235,079 41,643, 736 May _. 47,996, 708 46, 576, 267 40,044,354 40,071, 906 37,976,008 32,512,426 39,256,598 June 50, 638,240 48, 611,133 40, 229,841 40, 573, 595 39, 236,177 33, 606,456 40,346,912 July 50,933,489 47, 016,264 40,131,073 36, 504, 275 36, 055, 788 31, 514,619 39,868,249 August 46,988,707 43,113,197 38,691,819 33,495, 567 34,136,129 30,097,035 36,274,676 September. 46,928, 641 45, 241, 613 38, 971,985 34,060,234 35, 768,453 31, 625,162 37,378,270 October 52, 508,364 52, 929,830 43,417, 983 38, 911,123 40, 745,186 34,323,441 41,027,647 November.. 47,358,372 48, 343, 797 41, 892, 997 38, 503, 870 36,159,896 33,441,136 39,696,095 December.. 57, 040, 767 54, 371,372 49,157,166 42,448, 051 40,436,981 38,020,458 42,947,842 Total. 607,655,170 569,796,696 491,691,423 463,726,297 439,363,906 399,036,331 483,026,341 140 CITIES (EXCLUDING NEW YORK CITY) January 23,580,783 22, 277,141 19,384, 306 19, 665, 757 15, 879,089 17,996,308 21, 731,245 February.. .. 20,079,698 18, 571, 386 17, 511, 777 16, 905, 721 14, 041,882 14, 598,649 17, 734,294 March 23,434,092 21, 218,819 19,192, 999 19, 643, 845 16, 535,165 16, 550, 080 21,146,149 April .. 22,511,502 20, 592,804 18,864, 690 18, 815,846 15, 671,446 15,886,325 20,324,163 May I 21,425,855 20, 396,874 18, 638, 794 19, 368,035 16,322,329=, 15, 341,666 19,675,551 June .. 22,442,175 21, 681, 574 18,304,182 19, 532, 299 17,172, 795 15,851, 635 20, 540,784 July 23,274,301 21, 558, 572 18, 662,199 18,183, 649 16,342, 654 15,174, 934 20,805,146 August 20,755,390 19,847, 917 17, 776, 035 17, 306, 954 15,848,905 14, 910, 942 18,903, 796 September .. 21,310,552 20,872,156 18,237, 518 17, 260, 780 16, 553,157 15, 522, 639 19, 778, 673 October I 23,753,555 24, 013, 655 20, 912, 290 19, 759, 221 18,422,910 16,713,120 20,890,563 November j 21, 568,054 21, 334, 364 18,846,063 18, 520, 943 17,133,146 15,948,912 19,525,453 December I 24,463,965 24, 058, 014 21,829, 943 20, 366, 902 19, 585,846 17,445, 559 20, 540,005 Total 268,599,922 256,423, 276228,160, 796 225,329,952 199, 509, 324191, 940, 769 241, 595,822 1 Revised. Figures for following cities partly estimated for periods specified: Boston, to end of 1920; St. Louis and Louisville, to January, 1921, inclusive; and St. Paul, to January, 1922, inclusive. 38494—27- -13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

182 ANNUAL EBPOET OF THE FEDEEAL EESEEVE BOAED EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS No. 94.—ALL MEMBER BANKS: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS [Amounts in thousands of dollars] Ratio of net Year ending June 30 J C s u u ( a n a a r s p n e p i d l 3 o t u a 0 f s l ) ea G rn ro in ss gs ex T p o e t n a s l es T e i n a n o e r g t n t a s - l ch lo N a o s r f e s f g t e e s d d N p i r t e o i t o f i n t a s d t - o d d e D c e l i n a v r d i e - s d t t t p o a i a r o l o d c n f a d a i t n i p t s - o d isurplus All member banks: Per cent 1919 2, 776,490 1,291,001 876,613 414,388 80,056 334,332 191,297 12.04 1920 3,193,337 1,636,141 1,097,471 538, 670 129,062 409,608 218,353 12.83 1921 3,415, 722 1,829,671 1, 267, 705 561,966 216, 309 345,657 238, 667 10.12 1922 3,496, 689 1, 669,429 1,156, 417 513,012 213,863 299,149 246,050 8.56 1923 3,629,468 1,683,512 1,189, 732 493, 780 148, 643 345,137 270,862 9.51 1924 3,699,928 1,742,332 1,253, 983 488,349 151,234 337,115 256,273 9.11 1925 3,836, 242 1,843,908 1,320,965 522,943 144, 539 378,404 260,677 9.86 1926 4,069,026 1,983,217 1,409,106 574,111 139, 703 434,408 279,358 10.68 Boston: 1919 229,922 91,248 61,445 29,803 5,320 24,483 13,169 10.65 1920 254,379 109,194 72,970 36,224 8,601 27,623 14,603 10.86 1921 263,512 127,160 83,541 43,619 17, 520 26,099 16,048 9.90 1922 269,961 115,159 i 80, 700 34,459 19,200 15, 259 18, 604 5.65 1923 270,377 114,908 | 83,740 31,168 8,828 22,340 18,299 8.26 1924 266, 801 120,742 87, 914 32,828 12, 618 20, 210 16, 651 7.57 1925 286, 263 131,456 93,492 37, 964 14, 704 23,260 17,258 8.13 1926 291, 389 138,040 100, 017 38, 023 9,850 28,173 18, 641 9.67 New York: 1919 715,511 394, 506 261,038 133,468 24,847 108, 621 49,356 15.18 1920 835, 536 485,096 315, 082 170, 014 54, 554 115, 460 49,040 13.82 1921 897, 474 538,808 357,369 181, 439 77,897 103, 542 70, 629 11.54 1922 914,893 I 465, 257 301, 469 163, 788 69,345 94, 443 74,918 10.32 1923 959,646 I 460, 979 306, 033 154, 946 35, 005 119,941 78,897 12.50 1924 984,994 I 473,333 324, 597 148, 736 32,302 116, 434 78,198 11.82 1925. 1,042,934 ! 514, 053 348, 252 165, 801 31, 275 134, 526 81, 526 12.90 1926 1, 167, 846 564, 605 380, 170 184,435 34, 914 149, 521 89,147 12.80 Philadelphia: 1919 256, 677 88, 783 56, 957 31, 826 7,012 24, 814 13, 703 9.67 1920 278, 085 105, 929 66, 748 39,181 13,181 26,000 15,389 9.35 1921 288, 891 113,715 71,326 42, 389 17,169 25, 220 16, 577 8.73 1922 301, 890 111,213 68, 391 42,822 11, 607 31,215 18,965 10.34 1923...: 327, 046 116,311 72, 965 43, 346 5,767 37, 579 21, 461 11.49 1924 353,190 124,724 80,057 44, 667 5,935 38,732 20,827 10.97 1925 379,987 134, 631 87,878 46,753 3,672 43,081 23,004 11.34 1926 409,883 148,480 196,326 52,154 6,519 45, 635 24,533 11.13 Cleveland: 1919 309,264 120,246 81,271 38,975 4,641 34,334 18,116 11.10 1920 341,073 147,824 . 98, 248 49, 576 7,236 42,340 20, 672 12.41 1921 371, 803 166,663 115, 582 51,081 15, 221 35,860 22,473 9.64 1922 388, 417 165, 248 114,322 50,926 11, 496 39,430 25,023 10.15 1923 405, 746 173,902 119, 983 53,919 10, 760 43,159 26,918 10.64 1924.... _. 422, 699 183,860 132, 544 51,316 10, 575 40,741 26, 529 9.64 1925 434, 551 199,114 142, 792 56,322 10,956 45,366 26, 715 10.44 1926 451,011 204, 532 149,059 I55,473 12,512 42, 961 28,416 9.53 Richmond: 1919 140,864 ! 56, 683 39,212 I 17, 471 2,378 15,093 9,914 10.71 1920.. 164,276 ' 72, 532 48,706 !23,826 3,937 19,889 10,764 12.11 1921... 179, 644 75,156 54,227 !20, 929 6,434 14, 495 11,383 8.07 1922.. 186, 248 73, 491 51,504 i21, 987 5,631 16,356 11,597 8.78 1923 190, 718 73, 824 51,463 !22,361 5,610 16, 751 13,671 8.78 1924 194, 888 77, 685 55,103 I22,582 5,649 16,933 13,151 8.69 1925 198, 912 79,311 57,659 i21, 652 -5,804 15,848 12, 709 7.97 1926 201, 643 83,082 59,692 |23,390 6,609 16, 781 15, 618 8.32 Atlanta: 1919 - 109,147 48,886 33,705 I15,181 ! 3,254 11, 927 7,392 10.93 1920.... -.- 128, 471 66,189 | 44,123 22,066 I 3,150 18,916 10,834 14.72 1921 136, 757 75,656 55,730 I19,926 I 7,478 12,448 10,817 9.10 1922 142,231 65,044 : 47,589 j17,455 I 6,541 10,914 9,276 7.67 1923 146, 262 66,093 i 47, 087 19,006 ! 5,278 13, 728 13,291 9.39 1924. 151,173 70,187 51, 305 18,882 i 6,349 12, 533 11, 760 8.29 1925. 152, 560 75,091 53,255 21,836 ! 7,894 13, 942 10, 746 9.14 1926 164, 583 89,091 61,743 27,348 i 7,793 19, 555 11, 908 11.88 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS 183 No. 94.—ALL MEMBER BANKS: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS—Continued [ Amounts in thousands of dollars] Ratio of net Ca a p n i d tal Grross Total T n o e ta t l lo N s e se t s Net ad- Divi- ti a o d n d i t - o Year ending June 30 surplus earnings expenses earn- charged dition to dends profits (as of ings off profits declared to capi- June 30) tal and surplus Chicago: Per cent 1919 389,369 185, 587 131,410 54,177 11, 513 42, 664 27,936 10.96 1920 ... 444,085 234, 765 162,006 72,759 13, 750 59,009 33,018 13.29 1921 475, 310 271,165 189, 025 82,140 21, 697 60,443 33, 362 12.72 1922 481,416 251,170 174,842 76,328 28,911 47,417 33,167 9.85 1923.. 496, 269 245,642 179,852 65,790 20,027 45, 763 34, 546 9.22 1924 503. 721 253,480 188,434 65,046 21,678 43,368 33,954 8.61 1925....... 516, 796 196, 220 66, 266 20, 641 45, 625 33, 380 8.83 1926 551, 989 284,142 209, 295 74, 847 15, 684 59,163 35, 291 10.72 St. Louis: 1919 127, 288 51, 746 35, 290 16,456 2,503 13, 953 9,164 10.9$ 1920 143, 408 68, 352 46, 396 21,956 3,286 18, 670 11, 298 13.02" 1921. 150, 096 74, 980 52,355 22, 625 7,890 14, 735 11, 046 9.82: 1922....... 158,428 71,305 50, 298 21,007 7,766 13, 241 11,128 8. 36< 1923 165, 642 75,343 53, 727 21, 616 6,258 15,358 13,402 9. 27" 1924....... 169, 278 77, 699 56,477 21, 222 8,119 13,103 13,732 7.741 1925....... 168,819 79, 986 58, 090 21,896 9,707 12,189 11, 722 7.22 1926 174, 933 85, 605 62, 372 23, 233 6,165 17, 068 11, 685 9.76 Minneapolis: 1919.. 100,373 55, 298 41,016 14, 282 2,434 11,848 8,890 11.80 1920 110,101 66,157 50, 991 15,166 2,644 12, 522 8,528 11.37 1921 .. 117, 421 74, 936 59, 288 15, 648 5,021 10,627 7,401 9.05. 1922 118, 732 66, 278 53,465 12,813 7,222 5,591 6,703 4.71 1923 116, 513 61, 994 51, 998 9,996 6,693 3,303 8,893 2.8a 1924 107, 588 58, 610 49, 044 9,566 7,719 1,847 5,560 1.72 1925.. 104, 057 58, 236 47, 000 11, 236 7,443 3,793 5,302 3.65 1926 100, 699 56, 983 44, 785 12,198 5,635 6,563 5,544 6.52 Kansas City; 1919 127, 218 73,836 52, 298 21, 538 4,185 17, 353 12, 296 13.64 1920. 145, 526 90, 514 65, 757 24, 757 4,099 20, 658 14,255 14.20 1921 150, 324 94, 349 71,115 23, 234 10, 282 12, 952 11, 562 8.62 1922 151.169 83, 585 65, 201 18, 384 12, 993 5,391 10, 299 3.57 1923 151, 551 85,167 65, 701 19, 466 13, 430 6,036 11,511 3.98 1924 143, 306 82,132 63, 913 18, 219 15, 653 2,566 8,738 1.79 1925 139,808 80, 048 62,103 17, 945 12, 322 5,623 8,157 4.02 1926 135, 886 81, 780 62, 224 19, 556 11, 899 7,657 8,031 5.63 Dallas: 1919 110, 519 46, 918 31,011 15, 907 3,893 12, 014 9,084 10.87 1920. 130, 033 64, 643 41,163 23,480 3,445 20, 035 11, 631 15.41 1921....... 140, 320 70, 501 51, 428 19, 073 11, 612 7,461 9,010 5.32 1922. 138, 758 58, 974 43,166 15, 808 14, 254 1,554 9,391 1.12 1923 138, 674 58, 630 42, 540 16,090 12, 725 3,365 9, 870 2.43 1924.. 136, 341 60, 244 42, 945 17, 299 9,919 7,380 8,148 5.41 1925 138, 808 59, 362 42,131 17, 231 7,939 9,292 10, 318 6.69 1926 140, 211 63,193 43, 215 19, 978 7,674 12, 304 9,467 8.78 San Francisco: 1919 160, 338 77,264 | 51, 960 25,304 8,076 17, 228 12, 277 10.74 1920 218, 364 124,946 | 85, 281 39,665 11,179 28, 486 18, 321 13.05 1921 244.170 146,582 | 106, 719 39,863 18, 088 21, 775 18, 359 8.92 1922 244, 546 142,705 ! 105,470 37,235 j 18,897 18, 338 16, 979 7.50 1923.. 261, 024 150,719 ; 114, 643 36,076 ! 18, 262 17,814 20,103 6.82 1924. 265, 949 159,636 | 121, 650 37,986 | 14, 718 23, 268 19, 025 8.75 1925 272, 747 170,134 I 132, 093 38,041 12,182 25, 859 19,840 9.48 1926 278, 953 183,684 140, 208 43,476 14, 449 29,027 21, 077 10.41 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

184 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 95.—NATIONAL BANKS1: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS [Amounts in thousands of dollars] Ratio of net Year ending June 30 ea G r r n o i s n s gs ex T p o en ta s l es T e i n a n o r e g t n a t s - l c l h N o a o s e r f s g t f e e s d d N p it e r i o t o f n a it d s to - de d D c e l i a n v r d e i d s - t t p o i a r o o d c n f d a i t p i t s - o ital and surplus All national banks: Per cent 1919 1, 983, 732 910,355 610, 526 299,829 59,583 240,246 135,532 12.11 1920 2, 205,140 1,108,669 736,092 372,577 90,620 281,957 147,712 12.79 1921. 2,298,352 1,201,427 829,599 371, 828 155,890 215,938 158,070 9.40 1922 2,355,157 1,066,842 732,702 334,140 150, 579 183,561 165,821 7.79 1923 2,398,051 1,048,899 736,254 312,645 109,320 203,325 179,070 8.48 1924 2,413,184 1,074,013 765,696 308,317 112,794 195,523 163,587 8.10 1925 2, 486,828 1,123,483 798,321 325,162 101,404 223,758 164,919 9.00 1926 2, 610,133 1,191, 527 841,227 350,300 101,358 248,942 173,635 9.54 Boston: 1919 169,014 60, 525 39, 543 20,982 3,844 17,138 9,557 10.14 1920 185,429 72,018 46,272 25,746 6,402 19,344 10,384 10.43 1921.. 188,150 82,390 52,867 29, 523 13,717 15,806 11,269 8.40 1922 190,295 73,536 49,889 23, 647 10,982 12,665 13,913 6.66 1923. 197, 997 74,105 53,144 20,961 5,037 15,924 13, 803 8.04 :1924... 193,918 80,837 57,827 23,010 9,650 13,360 12,073 6.89 2925. 209,120 61, 839 27,144 11,297 15, 847 12,472 7.58 1926 209, 509 92,214 65, 676 26, 538 19, 641 13,642 9.37 New York: 1919. 417,512 231, 531 149,985 81, 546 14,040 67,506 i 25,595 16.17 1920... .--. 481,912 279,118 177,491 101, 627 34,096 67,531 21,590 14.01 1921 519,658 302, 403 200,885 101, 518 48,450 53,068 37,745 10.21 1922 546,097 258,578 164, 560 94,018 41,207 52,811 43,904 9.67 1923 544,158 245, 531 159,671 85,860 23,439 62,421 43,038 11.47 1924. 559,199 246,192 164,308 81, 884 23,059 58,825 41, 871 10.52 1925. 593, 877 269, 596 180,239 89,357 18,647 70, 710 43,280 11.90 1926 658, 832 290,138 193,722 96, 416 24, 860 71, 556 46,183 10.86 Philadelphia: 1919 188,298 69,152 44, 932 24, 220 5,246 18,974 10.08 1920 83, 036 53,140 29, 896 10,317 19, 579 10,954 9.46 1921... 214,322 88, 360 55, 835 32, 525 15,149 17,376 11, 776 8.11 1922 223,392 86, 681 53,379 33,302 10, 789 22, 513 13,970 10.08 1923. 236,020 87,458 55,036 32,422 4,615 27,807 15,940 11.78 1924 244,499 91, 267 59,041 32, 226 5,554 26,672 14,188 10.91 1925... 260, 616 97, 425 63, 771 33,654 3,684 29,970 15, 629 11.50 1926 280, 518 105,882 68,117 37, 765 5,775 31,990 16,105 11.40 Cleveland: 1919 216,096 86, 592 57, 881 28, 711 4,685 24,026 12,449 11.12 1920 232, 671 100, 504 65, 669 34,835 6,027 14,055 12.38 1921 228,010 107, 222 71,999 35,223 12, 850 22,373 14,149 9.81 1922 234,167 97,335 65, 792 31, 543 9,310 22, 233 15, 682 9.49 1923 241,734 ! 100, 283 68,546 31, 737 6,930 24, 807 16, 834 10.26 1924... 243,065 I 102, 867 72, 805 30,062 6,306 23,756 15, 861 9.77 1925. 246, 345 109, 002 76, 661 32, 341 6,697 25,644 15,705 10.41 1926 256.974 110,461 79, 730 30, 731 6,953 23, 778 16, 744 9.25 Richmond: 1919 123, 963 50, 327 34,979 15,348 2,147 13, 201 8,705 10.65 1920. 141, 917 63,146 42,393 20, 753 3,481 17, 272 9,492 12.17 1921 154, 685 64,991 46, 383 5,974 12, 634 9,861 8.17 1922 158, 851 63,242 44,392 18, 850 4,913 13,937 9,999 8.77 1923 161, 652 43, 582 19,106 4,821 14, 285 11,291 8.84 1924___ 162,123 65,358 46,200 19,158 4,841 14,317 11, 388 8.83 1925 165, 619 65, 897 47, 869 18,028 5,295 12, 733 10, 816 7.69 1926.. 167,278 68, 353 48, 801 19, 552 5,602 13,950 13, 590 8.34 Atlanta: 1919 81,751 36, 238 24,686 11, 552 2,782 8,770 5,573 10.70 1920 88, 544 44, 081 28,914 15,167 1,975 13,192 7,213 14.90 1921... 92,460 49, 578 36, 766 12, 812 4,255 8,557 7,820 9.25 1922. 94,539 41,971 30,383 11, 588 4,139 7,449 6,253 7.88 1923 94,982 42, 328 29, 621 12,707 3,895 8,812 9,390 9.28 1924 100, 925 44, 581 32,363 12, 218 3,847 8,371 8,041 8.29 1925... 102, 865 48, 757 34, 693 14,064 4,684 9,380 7,110 9.12 1926. 113, 573 59, 757 41,152 18, 605 4,508 14,097 12.41 .Chicago: 1919 246, 473 112,979 76, 541 36, 438 8,154 28, 284 18, 708 11.48 1920 268,991 138, 267 94, 779 43, 488 9,018 34, 470 21,459 12.81 1921 289, 233 156,402 107,736 48, 666 14,230 34,436 21,117 11.91 1922 286,121 137, 764 95,159 42, 605 20,057 22, 548 20, 228 7.88 1923 294, 576 130, 790 96, 026 34, 764 14, 952 19, 812 20, 965 6.73 1924. 301.975 137,243 101, 692 35, 551 14, 342 21,209 20, 019 7.02 1925.. 294,839 136, 776 101,958 34, 818 14, 545 20,273 18, 731 6.88 1926.. 310,497 143, 770 106, 111 37, 659 11, 225 26, 434 19, 653 8.51 X Member banks only, i. e., exclusive of national banks in Alaska and Hawaii. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS 185 No. 95.—NATIONAL BANKS: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS—Continued [Amounts in thousands of dollars] Ratio Capital of net Year ending June 30 J s u u ( n a a r n s p e d l 3 o u 0 f s ) ea G rn ro in s g s s ex T p o e t n a s l es T e i o n a n e t r g t n a s - l ch lo N a o s r e f s f g t e e s d d N p it r e i o t o f n a it d s t ' o d d D e e c i n l v a d i r - s ed t t p o i a r o d o c n d f a i i t p t - o s i' tal and surplus St. Louis: Per cent 1919 85, 670 33,973 23,192 10, 781 1,745 9,036 6,099 10.55- 1920 95, 767 43, 737 29, 518 14,219 1,924 12, 295 7,662 12.84 1921 97, 808 47,250 32, 303 14, 947 4,820 10,127 7,582 10.35 1922 101,336 42, 628 30,012 12,616 4,188 8,428 7,272 8.32 1923 104, 579 44, 658 31, 862 12, 796 3,962 8,834 7,728 8.45 1924 104, 660 45, 870 33,069 12,801 4,358 8,443 8,955 8.07 1925 105.001 46, 783 33, 408 13,375 3,547 9,828 7,835 9.36 1926 108, 994 49,459 35, 875 13, 584 3,900 7,537 Minneapolis: 1919.. 91,261 50,304 37,080 13,224 2,296 10, 928 8,280 11. 96 1920 97, 989 59, 235 45,499 13, 736 2,369 11, 367 7,779 11. 60 1921....... 102, 680 65, 764 51, 775 13, 989 4,360 9,629 9.38 1922 104, 042 57,458 45, 986 11,472 6,319 5,153 6,136 4.95- 1923 104, 627 54,647 45, 817 8,830 5,785 3,045 8,393 2.91 1924 97, 933 52, 751 44,117 8,634 6,964 1,670 5,151 1.71 1925 95,471 52, 998 42, 645 10, 353 6,844 3,509 4,915 3. 68 1926 93,171 52,128 40, 961 11,167 4,862 6,305 5,183 6.7r Kansas City: 1919...J... 120, 335 68,602 20, 094 3,814 16, 280 11,617 13. 53- 1920 135, 993 83, 270 60,124 23,146 3,916 19, 230 13,126 14.14 1921 132, 717 84, 984 63, 853 21,131 9,499 11, 632 10, 358 8. 76 1922 137, 739 74,056 57, 551 16, 505 11, 896 4,609 9,259 3.35* 1923 137, 333 74, 889 58,180 16, 709 12, 383 4,326 10. 468 3.15 1924 131, 356 73, 769 57, 407 16, 362 14, 761 1,601 7,768 1.22 1925. 127, 750 72. 047 55, 805 16, 242 11, 465 4,777 7,212 3.74 1926 123, 312 73, 280 55, 459 17,821 11,315 6,506 7,058 5.28 Dallas: 1919 99, 981 42, 705 28, 208 14,497 3,637 10,860 8,423 10. 86 1920 113, 603 57, 727 36, 847 20,880 I 3,180 17, 700 10, 675 15.58- 1921 117, 322 59, 763 43. 701 16,062 '10,124 5,938 7,792 5.06 1922 119,202 50,173 36, 608 13, 565 11, 994 1,571 1.32 1923 119,977 50, 855 36, 837 14,018 10,495 3,523 9,142 2.94 1924 120, 303 52, 849 37, 724 15,125 8,407 6,718 7,325 5.58 1925 128, 516 53,663 38,062 15,601 6,614 8,987 9,815 6.99 1926 131,535 59,006 40, 326 18, 680 6,799 11, 881 9,123 9.03 San Francisco: 1919 143,378 67,427 44, 991 22,436 7,193 15, 243 11,043 10.63 1920 155, 336 84, 530 55,446 29,084 7,915 21,169 13, 323 13.63 1921 161, 307 92, 320 65,496 26, 824 12,462 14, 362 11, 921 8.90 1922 159, 376 83,420 58,991 24,429 14, 785 9,644 10. 506 6.05 1923 160, 416 80, 667 57, 932 22, 735 13,006 9,729 12,078 6.06 1924 153, 228 80,429 59,143 21, 286 10, 705 10, 581 10, 947 6.91 1925 156, 809 81, 556 61, 371 20,185 8,085 12,100 11, 399 7.72 1926 155, 940 87,079 65, 297 21,782 8,662 13,120 10, 429 8.41 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

186 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 96.—-STATE BANK MEMBERS: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS [Amounts in thousands of doliarsl Ratio Year ending June 30 C su ( a a a r p s n p i d l o t u a f s l ea G rn ro in ss g s ; ex T p o en ta s l es T e n a o r e t n t a - l d N p it r e i o o t f n a it d t s o - d d e D e c i n l v a d i r - s ed t t p o o i a r o f d o c n d n a f i p i e t t - o s i t - June 30) tal and surplus All Statebank members: Per cent 1919 792,758 380,646 | 266,087 114, 559 20,473 94,086 55,765 11.87 1920 988,197 527,472 i 361,379 166,093 38,442 127,651 70, 641 12.92 1921 1,117,370 628,244 438,106 190,138 60,419 129,719 80, 597 11.61 1922 1,141, 532 602,587 ! 423, 715 178,872 63,284 115, 588 80,229 10.13 1923 1,231,417 634,613 j 453,478 181,135 39, 323 141,812 91, 792 11.52 1924 1, 286, 744 668,319 488,287 180,032 38,440 141, 592 92, 686 11.00 1925 1,349,414 720,425 522,644 197, 781 43,135 154,646 95, 758 11.46 1926 1,458,893 791, 690 567,879 223,811 38,345 185,466 105, 723 12.71 Boston: 1919. 60,908 30,723 21,902 8,821 1,476 7, 345 3,612 12.06 1920 68,950 37,176 26,698 10,478 2,199 8,279 4,219 12.01 1921 75,362 44,770 30,674 14,096 3,803 10, 293 4,779 13.66 1922. 79,666 41, 623 30,811 10,812 8,218 2,594 4,691 3.26 1923 72, 380 40,803 30, 596 10,207 3,791 6,416 4,496 8.86 1924 72,883 39,905 30,087 9,818 2,968 6,850 4,578 9.40 1925— 77,143 42,473 31, 653 10,820 3,407 7,413 4,786 9.61 1926 81, 880 45,826 34, 341 11,485 2, 953 8, 532 4,999 10.42 New York: 1919. .- 297,999 162,975 111,053 51,922 10,807 41,115 23, 761 13.80 1920... 353,624 205,978 137, 591 68, 387 20,458 47,929 27,450 13.55 1921 377,816 236,405 156,484 79, 921 29,447 50,474 32,884 13.36 1922 368, 796 206, 679 136,909 69, 770 28,138 41, 632 31,014 11.29 1923 415,488 215,448 146,362 69,086 11, 566 57, 520 35,859 13.84 1924 425, 795 227,141 160,289 66,852 9,243 57, 609 36, 327 13.53 1925 449,057 244,457 168, 013 76,444 12, 628 63, 816 38,246 14.21 1926 509,014 274,467 186,448 88,019 10,054 77,965 42,964 15.32 Philadelphia: 1919 ._.. 68,379 19, 631 12,025 7,606 1,766 5,840 4,220 8.54 1920 71,097 22, 893 13, 608 9,285 2,864 6,421 4,435 9.03 1921.-. 74, 569 25, 355 15,491 9,864 2,020 7,844 4,801 10.52 1922... 78,498 24, 532 15, 012 9,520 818 8,702 4,995 11.09 1923 .-„ 91,026 28,853 17,929 10,924 1,152 9,772 5,521 10.74 1924... 108,691 33,457 21, 016 12,441 381 12,060 6,639 11.10 1925 119,371 37,206 24,107 13,099 —12 13,111 7,375 10.98 1926—. 129,365 42, 598 28,209 14,389 744 13,645 8,428 10.55 Cleveland: 1919— 93,168 33,654 23,390 10,264 -44 10, 308 5,667 11.06 1 1 9 9 2 2 0 1 1 1 0 4 8 3 , ,7 4 9 0 3 2 4 5 7 9 , ,4 3 4 2 1 0 4 3 3 2 , , 5 5 7 8 9 3 1 1 4 5 , , 8 7 5 4 8 1 2 1, , 2 3 0 7 9 1 1 1 3 3 , , 4 5 8 3 7 2 8 6 , ,6 3 1 2 7 4 ( 1 9 2 . . 3 4 8 8 1922 154,250 67,913 48, 530 19, 383 2,186 17,197 9,341 | 11.15 1923—. 164,012 73, 619 51,437 22,182 3,830 18,352 10,084 11.19 1924 179,634 80,993 59, 739 21,254 4,269 16,985 10,668 i 9.46 1925 188,206 90,112 66,131 23,981 4,259 19, 722 11,010 I 10.48 1926 - 194,037 94,071 69,329 24,742 5,559 19,183 11,672 | 9.89 Richmond: ! 1919 16,901 6,356 4,233 2,123 231 1,892 1,209 11.19 1920 22,359 9,386 6,313 3,073 456 2,617 1,272 11.70 1921.. 24,959 10,165 7,844 2,321 460 1,861 1, 522 7.46 1922 27,397 10,249 7,112 3,137 718 2,419 1,598 8.83 1923 29,066 11,136 7,881 3,255 789 2,466 2,380 8.48 1924 32, 765 12,327 8,903 3,424 808 2,616 1,763 7.98 1925 33, 293 13,414 9,790 3,624 509 3,115 1,893 9.36 1926 34, 365 14, 729 10, 891 3,838 1,007 2,831 2,028 j 8.24 Atlanta: 1919 27,396 12,648 9,019 3,629 472 3,157 1,819 I 11.52 1920 39,927 22,108 15,209 6,899 1,175 5, 724 3,621 I 14.34 1921 44,297 26, 078 18,964 7,114 3,223 3,891 2,997 j 8.78 1922... 47,692 23,073 17,206 5,867 2,402 3,465 3,023 i 7.27 1923 .- 51, 280 23, 765 17,466 6,299 1.383 4,916 3,901 j 9.59 1924. 50, 248 25, 606 18,942 6,664 2,502 4,162 3,719 I 8.28 1925 49, 695 26, 334 18, 562 7,772 3,210 4,562 3,636 I 9.18 1926 51,010 29, 334 20, 591 8,743 3,285 5,458 3,520 ! 10.70 Chicago: 1919 142,896 ! 72,608 54,869 17, 739 3,359 14,380 9,228 10.06 1920 175,094 S 96,498 67, 227 29, 271 4,732 24, 539 11,559 14.01 1921 186,077 I 114, 763 81, 289 33,474 7,467 26,007 12,245 13.97 1922 195,295 j 113, 406 79, 683 33, 723 8,854 24,869 12,939 12.73 1923 201,693 114, 852 83,826 31,026 5,075 25,951 13, 581 12.87 1924... 201,746 116,237 86, 742 29, 495 7,336 22,159 13,935 10.98 1925... 221,957 125, 710 94, 262 31,448 6,096 25, 352 14,649 11.42 1926 241,492 ! 140, 372 103,184 37,188 4,459 32,729 15,638 13.55 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EAKNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS 187 No. 96.—STATE BANK MEMBERS: EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS—Continued [Amounts in thousands of dollars] Ratio of net Year ending June 30 s C u ( a a a r p s n p i d l o t u a f s l ea G rn ro in ss gs ex T p o e t n a s l es T e i n a n o e r g t n a t s - l c l h o N a o s r f e s g f e t e s d d N p i e r ti o t o f n i a t d s t - o d d e D e c i n l v a d i r - s ed t t p o i a r o d o c n d f a i i p t t - o s i- June 30) tal and surplus St. Louis: Per cent 1919 41, 618 17,773 12, 098 5, 675 758 4,917 3,065 11.81 1920 47, 641 24,615 16, 878 7,737 1,362 6,375 3,636 13.38 1921 52, 288 27, 730 20, 052 7, 678 3,070 4,608 3,464 8.81 U22 . 57, 092 28, 677 20, 286 8,391 3,578 4,813 3, 856 8.43 1923 61, 063 30, 685 21, 865 8,820 2,296 6,524 5,674 10. 68 1924 64, 618 31,829 23,408 8,421 3,761 4,660 4,777 7.21 1925 63, 818 33, 203 24,682 8,521 6,160 2,361 3,887 3.70 1926.. 65, 939 36,146 26,497 9,649 2, 265 7,384 4,148 11.20 Minneapolis: 1919 9,112 4,994 3,936 1,058 138 920 610 10.10 1920 12,112 6,922 5,492 1,430 275 1,155 749 9.54 1921 . . 14, 741 9,172 7, 513 1,659 661 998 721 6.77 1922 14,690 8,820 7,479 1,341 903 438 567 2.98 1923 ... 11,886 7,347 6,181 1,166 908 258 500 2.17 1924 9,655 5,859 4,927 932 755 177 409 1.83 1925 _ _ 8,586 5, 238 4,355 883 599 284 387 3.31 1926 7,528 4,855 3, £24 1,031 773 258 361 3.43 Kansas City: 1919 6,883 5, 234 3,790 1,444 371 1,073 679 15.59 1920 9,533 7,244 5,633 1,611 183 1,428 1,129 14.98 1921.. 17, 607 9, 365 7,262 2,103 783 1,320 1,204 7.50 1922 13,430 9,529 7,650 1,879 1,097 782 1,040 5.82 1923 14,218 10, 278 7,521 2,757 1,047 1,710 1,043 12.03 1924 11,950 8,363 6,506 1,857 892 965 970 8.08 1925 12,058 8,001 6,298 1,703 857 846 945 7.02 1926 12, 574 8,500 6,765 1,735 584 1,151 973 9.15 Dallas: 1919 10, 538 4,213 2,803 1,410 256 1,154 661 10.95 1920 16,430 6,916 4,316 2,600 265 2,335 956 14.21 1921 22,998 10,738 7,727 3,011 1,488 1,523 1,218 6.62 1922 19, 556 8,801 6,558 2,243 2,260 U7 692 1923 18,697 7,775 5,703 2,072 2,230 i 158 728 1924 16,038 7,395 5,221 2,174 1,512 662 823 4.13 1925 10, 292 5,699 4,069 1,630 1,325 305 503 2.96 1926 8,676 4,187 2,889 1,298 875 423 344 4.88 San Francisco: 1919 16,960 9,837 6,969 2,868 883 1,985 1,234 11.70 1920 63,028 40,416 29,835 10, 581 3,264 7,317 4,998 11.61 1921 82,863 54,262 41,223 13,039 5,626 7,413 6,438 8.95 1922 85,170 59,285 46,479 12,806 4,112 8,694 6,473 10.21 1923 100, 608 70, 052 56, 711 13,341 5,256 8,085 8,025 8.04 1924 112, 721 79,207 62, 507 16,700 4,013 12,687 8,078 11.26 1925.. 115,938 88,578 70,722 17,856 4,097 13,759 8,441 11.87 1926 123,013 96, 605 74,911 21,694 5,787 15,907 10,648 12.93 i Net deduction. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM 00 No. 97.—CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM, BY DISTRICTS, DURING 1926 All districts Boston district New York district Philad t e r l i p c h t ia dis- Cleveland district Richmond district Number of banks Number of banks Number of banks Number of banks Number of banks Number of banks Resources (in thouti N on a a - l State Total sands) ti N on a- al StateTotal ti N on a a - l State Total ti N on a a - l State Total ti N on a a - l State Total ti N on a a - l State Total S Active member banks Jan. 1, 1926 __ 8,048 1,441 9,489 $41,425, 295 382 38 420 734 146 880 671 82 753 747 116 863 548 56 604 o Additions to membership: Organization of national bank 104 104 22,492 2 2 35 35 17 17 3 3 1 1 Conversion of nonmember bank to national 22 22 • 100,216 1 1 2 2 3 3 1 1 Admission of State bank 32 32 88, 379 16 16 4 4 1 • 1 1 1 Resumption following suspension 9 4 13 8,827 1 1 1 1 Conversion within the system 8 7 i i i 1 1 6 Other additions 7 1 8 Total additions 150 44 179 2 1 2 37 22 52 20 4 24 6 1 7 3 1 4 Losses to membership: Merger between members— Intraclass 68 2 80 3 3 3 4 7 5 1 6 3 2 5 11 1 12 Interclass 20 7 27 2 2 5 5 1 1 1 1 3 3 Voluntary liquidation (terminal) 7 3 10 5,771 2 2 Suspension and insolvency 124 36 160 95,950 1 1 2 2 4 4 fed Absorption of member by nonmember. 40 4 44 39,945 1 1 2 2 1 1 4 4 C W o i n th v d e r rs a i w on a l o o f f m S e t m at b e e b r a to n k nonmember. 23 5 2 9 2 5 5 9 2 52 7 , , 4 6 2 0 1 2 5 5 3 3 2 2 fed C O o th n e v r e r lo si s o se n s within the system 3 7 8 3 i 1 »6 1 1 IW Total losses 292 131 408 7 6 21 5 19 7 1 8 8 6 14 24 1 25 Net change _. _ - -142 -87 -229 +604,349 -5 +1 A + 16 +17 +33 +13 +3 +16 -2 -5 IT -21 -21 Active member banks Dec. 31, 1926 7,906 1,354 9,260 42,029, 644 377 39 416 750 163 913 684 | 85 769 745 111 856 527 56 583 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Atlanta district Chicago district St. Louis district Minnea tr p i o ct lis dis- Kansas t ri C ct ity dis- Dallas district San Fra t n ri c c i t sco dis- CO Number of banks Number of banks Number of banks Number of banks Number of ba,nks Number of banks Number of banks CtO ti N on a a - l State Total ti N on a- al State Total ti N on a a - l State Total ti N on a- al State Total ti N on a- al State Total ti N on a a - l State Total ti N on a- al State Total to Active member banks Jan. 1,1926. 379 116 495 1,051 347 1,398 498 130 628 744 85 829 994 33 1,027 725 127 852 575 165 740 Additions to membership: Organization of national bank 9 9 10 10 3 3 5 5 2 2 3 3 14 14 j! Conversion of nonmember bank to national 1 1 1 1 2 2 2 2 8 8 1 1 Admission of State bank 3 3 1 1 2 2 1 1 1 1 1 1 1 1 Resumption following suspen- 83 sion 5 2 7 1 1 1 1 2 1 1 Conversion within the system- 12 14 Other additions 22 2 3 1 1 4 3 3 3 1 1 «1 1 Q Total additions 12 3 13 18 3 21 6 3 8 9 2 11 6 1 7 15 2 13 16 1 17 Losses to membership: Merger between members— Intraclass 5 1 6 6 6 2 2 7 7 6 10 10 65 5 8 3 11 Inter class 1 2 3 2 2 1 •« 2 1 1 1 1 2 1 1 2 2 1 3 g Voluntary liquidation (terminal) 1 1 2 1 1 1 1 2 2 o 2 Suspension and insolvency 4 8 12 35 16 51 8 4 12 41 1 42 13 1 14 10 4 14 6 2 8 II Absorption of member by nonmember * 1 1 7 1 8 4 1 5 9 9 5 5 1 1 2 5 1 6 Conversion of member to nonmember 1 1 4 4 1 1 3 3 4 4 2 2 2 1 3 W Withdrawal of State bank ... 78 8 13 13 4 4 13 13 85 5 8 8 5 5 ii Conversion within the system- 12 1 1 i 4 Other losses 43 3 Total losses... 13 22 33 54 30 84 15 13 27 61 15 76 35 7 42 24 18 38 23 13 36 Net change -1 -19 -20 -36 -27 -63 -9 -10 -19 -52 -13 -65 -29 -6 -35 -9 -16 -25 -12 19 Active member banks Dec. 31, 1926 378 97 475 1,015 320 1,335 489 120 609 692 72 764 965 27 992 716 111 827 568 153 721 NOTE.—Similar statistics for earlier years may be found in the board's annual report for 1925, pages 175-183. 1 Succession between members of one class and members of the other, without effect on the number of banks in the system. 2 Banks organized to succeed banks that had previously suspended. 3 One member bank succeeded by another of the same class prior to Dec. 31, 1925, the succeeding bank not reporting until after Dec. 31, 1925. 4 Transfer of three banks from the Dallas district to the Kansas City district. 5 Bank organized to succeed a bank that had previously suspended. 7 Includes one compulsory withdrawal. 6 Includes one instance in which two member banks were succeeded by a third organized for the purpose. s Includes two compulsory withdrawals. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANK SUSPENSIONS [The following figures on bank suspensions represent, so far as can be determined, banks closed either permanently or temporarily on account of financial difficulties and include many banks not finally classed as bank failures. The figures will not, therefore, agree with those for bank " failures" published by the Comptroller of the Currency for national banks and by the several State banking departments for State banks] No. 98.—BANK SUSPENSIONS, 1921-1926: NUMBER, CAPITAL, AND DEPOSITS, BY CLASSES OF BANKS ALL BANKS » NUMBER Total Suspensions, by Federal reserve districts Year Suspended Reopened Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas San ci s F c r o an- 1921 502 60 6 6 2 5 40 66 46 33 73 87 82 56 1922- 354 65 2 3 1 1 36 22 25 26 64 92 51 31 1923 • 650 36 3 4 3 6 44 23 53 24 279 137 46 28 1924— 777 94 1 6 2 6 43 48 108 53 295 133 53 29 1925 612 62 2 3 14 68 44 109 53 168 77 50 24 1926 956 147 4 9 61 162 182 77 283 112 50 16 W Total suspended 3,851 14 19 15 41 292 365 523 266 1,162 638 332 184 Total reopened 464 7 1 4 17 76 86 18 163 39 27 26 CAPITAL 1921- $22,902,000 $1, $1,409,000 $375,000 $272,000 $1,041,000 $2, 517,000$1,522,000 $1,172,000 $1,985,000 $3,083,000 $3,844,000 $4,292,000 1922. 13, 743, 000 4,003, 000 100,000 50,000 50,000 1,726,000 1, 018, 000 805,000 1,065,000 2,040, 000 3,697,000 1, 286,000 1,906,000 1923-. 21,978, 000 1, 506,000 186,000 10,000 313,000 378,000 1,429,000 1,113, 000 1,893,000 1,153,000 7,124,000 5,057,000 2,208,000 1,114,000 1924.. 28,373,000 2,815,000 150, 000 85,000 125,000 129,000 1, 654,000 1,974, 000 4, 622, 000 1,903,000 9, 084,000 4,142,000 3,108, 000 1,397,000 1925-. 24,441,000 1, 994, 000 125,000 355,000 730,000 2, 615, 000 2,104, 000 4,961, 000 1,761,000 4,724,000 3,433,000 2,498, 000 1,135,000 3 926- 32,804,000 5, 099, 000 135,000 653,000 2,389, 000 6,446,000 7, 056, 0003,483,000 6,744,000 2,944,000 1,614,000 1,340,000 Total suspended-. 144, 241,000 1,870,000 1,585,000 1,353,000 2, 212,000 10,854, 00015,172, C j 20,859,000 10,537,000 31, 701,00022,356,000 14, 558,000 11,184,000 Total reopened 17,335,000 1,275,000 40,000 150, 000 676,000 3,530,000 455,000 4,240,000 1,315,000 1, 535, 000 1,221,000 DEPOSITS 1921- $198,354,000 $17,493,000 $17,366,000 $15,769,000 $2,400,000 $1,496,000 $8,103, 000 $18, 984,000,$18,336,000|$10,042,000 $17,972,000 $25, 278,000 $27,944,000 $34,664,000 1922-. 110, 721,00035, 565, 000 1,861, 000 868,000 415, 000 778,000 15,243,000! 6, 244,000 7,033,000 10,757,000 15,528,000 31, 269,000 6,813,000 13,912,000 1923- 188, 805,00011, 567,000 1, 782, 000 2,000 2, 695,0003,453,000 9,584,000 7, 774, 00016,577,0001 7,909,000 73,321,000 45,620, 00014,358, 000 5,730,000 1924. 213,444, 00022,462, 000 1, 605,000 1, 746,000 901,000 1,137,000 5,822,000 5,002,000 36,950,0001 13,674,000 85, 539,00034,763,000 19, 612,000 6,693,000 1925-. 172,900,000 16, 616,000 1,298, 000 2, 665,0009, 624,000 13,182,000 6, 079, 00034,126, 000 11,942,000 44,985,000 28, 698,00011,830,000 8,471,000 1926.. 272,488, 00060,180,000 1,002,0004, 797,000 13,988,00065, 713, 00060,526,000j 22,656,000 65,594,000 22,872,000 8,879,000 6,461,000 Total suspended..1,156,712,000 23,912, 00018,385,000 10,078,000 21,285, 000 65,922,000 109,796, 000 173, 548,000 76,980, 000 302,939, 000 188, 500,8 090,0436,000 75,931,000 Total reopened 163, 883,000 16,473,000 618, 000 943,000 4, 791,00031,155, 000 35,233, 000 3,650,000 42,956,000 10,570,000 8,041,000 9,453,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

NATIONAL BANKS NUMBER 1921 51 8 1 1 1 1 4 1 10 8 12 12 1922.. 45 22 3 4 2 3 12 8 7 6 1923 90 11 1 3 2 2 40 16 16 8 1924 122 18 1 1 1 4 6 1 49 30 16 10 1925 118 11 3 10 10 16 44 16 10 9 1926. 125 10 1 2 4 4 36 8 40 13 11 6 Total suspended.. 551 2 5 2 9 24 21 66 13 195 91 72 51 Total reopened 80 5 1 1 3 2 15 1 18 11 13 10 CAPITAL 1921 $3,060,000 $325, 000 $50,000 $50, 000 $25, 000 $50,000 $150,000 $125, 000 $300,000 $625, 000 $905,000 $780,000 1922 3,335,000 1, 330,000 100,000 475, 000 90, 000 210, 000 680,000 875,000 330,000 575,000 1923 . 4, 610,000 570,000 $50, 000 250,000 125,000 75, 000 65,000 1, 670,000 820,000 1,075,000 480,000 1924 7, 660,000 785,000 150, 000 25,000 $50, 000 200, 000 365, 000 385, 000 200, 000 2, 355,000 1, 655,000 1, 810,000 465, 000 1925 7,970,000 700,000 225, 000 550, 000 930,000 1, 015,000 2, 015,000 1, 600, 000 1,155,000 480,000 1926 6,020,000 490,000 40, 000 135,000 210,000 225, 000 1,918, 000 725, 000 1, 350,000 455, 000 512,000 450,000 d Total suspended.. 32, 655, 000 200,000 175, 000 90, 000 660, 0001, 585, 0001, 645, 0003, 623, 000 1,260,000 8, 370,000 6, 030,000 5, 787,000 3, 230, 000 Total reopened ._ 4, 200, 000 175,000 40, 000 25, 000 300, 000 75, 000 835, 000 25, 000 610, 000 685,000 880,000 550, 000 o DEPOSITS 3 1921 $21, 285,000$2, 499, 000 $608,000 $671, 000 $211,000 $181,000 $1, 295, 000 $182, 000$1, 712, 000$4, 502,000$6,484,000 $5, 439, 000 1922 19, 092,000 8, 076,000 868,000 4, 278,000 695,000 1, 607, 0003,110, 000 4. 362,000 1, 223,000 2,949,000 1923 32,904,000 3, 973, 000 $293,000 2, 805." 666"1, 243, 000 67,000 293, 000 13, 805,000 6, 308,000 6, 392,000 1, 698,000 1924 60, 889, 000 6, 895, 000 1, 605,000 765, 000 $247, 000 1, 243, 0001,035,000 I 4,868,000 "616," 666"19, 764, 00015,984,000 12, 325,000 2, 437, 000 1925 58, 537, 000 6, 300, 000 3, 621, 0003, 528, 0002, 782,000 ! 7, 658, 000 17, 806,00016, 410, 000 4, 011,000 2, 721,000 1926 47, 866, 000 4, 665, 000 618, 0001, 650,0001, 368,000 1,300,000 15,756,000 4, 520,00014, 690,000 2, 652,000 2, 665,000 2, 647,000 Total suspended..240, 573, 000 1, 898, 0002, 241,000 865, 0008, 747, 00011,871,000 5,365,000 30,565,000 6,925, 00070, 887, 00050, 218,00033,100,000 17, 891,000 Total reopened 32, 408, 000 2, 241,000 618, 000 177, 0002, 272, 000 369, 000 8, 330, 000 161, 000 4, 201,000 4, 594, 000 5, 774,000 3, 671, 000 i Including 196 private banks, the figures for which are incomplete. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 98.—BANK SUSPENSIONS, 1921-1926: NUAIEEH, CAPITAL, AND DEPOSITS, BY CLASSES OP BANKS—Continued CO STATE MEMBER BANKS NUMBER Total Suspensions, by Federal reserve districts Year Suspended Reopened Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas San ci s F c r o an- 1921. . 19 2 2 1 1 2 1 5 7 1922 12 2 1 1 4 1 5 1923 34 3 3 6 1 14 2 4 4 1924 37 2 1 9 10 2 9 2 3 1 1925 28 3 1 5 8 1 5 5 3 1926 35 4 8 16 4 1 1 3 2 Total suspended- 165 2 28 42 9 35 6 21 22 Total reopened 16 3 7 2 2 1 1 CAPITAL 1921 ' $2,309,000 $150,000 $300,000 $100,000 $50,000 $70,000 $100,000 $395,000 $1,294,000 1922 621,000 250,000 50,000 200,000 190,000 30,000 151,000 1923 2,235,000 115,000 250,000 305,000 275,000 705,000 250,666 225,000 225,000 1924 2, 645,000 75.000 $100,000 625,000 540,000 200,000 795,000 125,000 235,000 25,000 1925 1,950,000 100,000 ... 25.000 275,000 1,035,000 25,000 150,000 315,000 125 000 1926 2, 549,000 220,000 430,000 1,321,000 265,000 50,000 200,000 218,000 65,000 Total suspended 12,309,000 . 125,000 1,930,000 3, 501,000 815,000 1,960,000 675,000 1,418,000 1,885,000 Total reopened 910,000 100,000 490,000 90,000 80,000 100,000 50,000 DEPOSITS 1921 $21,218,000 $633,000 $2,619,000 $639,000 $465,000 $352,000 $792,000 $4,193,000 $12,158,000 1922 5,151,000 3, 542,000 136,000 2,963,000 1,408,000 91,000 553,000 1923 18,324,000 1,095,000 1,397,000 2,237,000 2,517,000 6,849,000 2,056,000 1,996,000 1,272,000 1924_ _. 13, 580,000 295,000 $299,000 833,000 3,364,000 753,000 6,187,000 572,000 1,382,000 190,000 1925 8, 727,000 479,000 107,000 1,118,000 4, 744,000 26,000 736,000 1, 630,000 366,000 1926 20,946,000 3, 514,000 1,488,000 12,701,000 2,360,000 693,000 2,006,000 1,408,000 290,000 Total suspended._ 87, 946,000 406, 000 7, 591,000 26,648,000 6,121,000 16,225,000 5,426,000 10,700,000 14,829,000 Total reopened 9,558,000 354,000 6,901,000 738,000 818,000 168,000 579,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

NONMEMBER BANKS i NUMBER 1921 432 50 6 5 2 4 39 63 41 31 61 78 65 37 1922 297 41 2 1 1 32 21 22 23 48 84 43 20 1923 526 22 2 4 3 3 42 18 45 23 225 119 26 16 1924 ._ 618 74 5 1 6 39 35 92 50 237 101 34 18 1925 466 48 2 3 11 57 29 85 52 119 61 35 12 1926 796 133 3 7 57 150 130 65 242 98 36 8 Total suspended.. 3,135 12 14 13 32 266 316 415 244 932 541 239 111 N o n m ember State 2,940 3 7 29 263 313 312 243 924 540 188 111 Private __ 195 5 11 6 3 3 3 103 1 8 1 51 Total reopened.. _•_ 368 2 3 14 71 64 15 143 28 13 15 N on member State. 361 2 3 14 71 60 15 142 28 11 15 Private . 7 4 1 2 CAPITAL 1921 $17, 533,000 $1,443,000 $1, 409,000 $1,340,000 $375, 000 $222,000 $1 016 000$2 167 000 $1, 272,000 $997,000 $1, 615,000 $2, 358,000 $2, 544,000 $2, 218,000 1922 9, 787,000 2, 423,000 50, 000 50,000 1,251,000 968,000 515,000 855,000 1,170,000 2, 822,000 926,000 1,180,000 1923_._ 15,133,000 821,000 136,000 10,000 313, 000 128,000 1,304,000 788,000 1,523,000 878,000 4, 749,000 3, 987,000 908,000 409,000 1924 18,068,000 1,955,000 60,000 75, 000 129,000 1,354,000 984,000 3, 697,000 1,503,000 5,934,000 2,362,000 1,063,000 907,000 1925... 14,521,000 1,194,000 125,000 355, 000 505,000 2,040,000 899,000 2,911,000 1,736,000 2, 559,000 1, 833,000 1,028,000 530,000 1926 24, 235,000 4, 389,000 95, 000 518,000 2,179,000 5, 791,000 3, 817,000 2, 493,000 5,344,000 2,289,000 884,000 825,000 Total suspended-. 99, 277,000 1, 670,000 1, 410, 000 1,263, 000 1,552,000 9,144,000 11,597,000 13, 735,000 8, 462,000 21,371,000 15, 651,000 7, 353,000 6,069,000 N on member State 95. 235,000 1,670,000 1,200,000 813, 000 1,437,000 9,119, 000 11,547,000 11,836,000 8, 452,000 21,016,000 15, 641,000 6, 435,000 6,069,000 Private 4,042,000 210,000 450,000 115,000 25,000 50,000 1,899,000 10,000 355,000 10,000 918,000 Total reopened. 12,225,000 1,100,000 125, 000 376,000 2, 723,000 2, 205,000 340,000 3, 550,000 630,000 555,000 621,000 N o n m ember State 11,800,000 1,100, 000 125,000 376,000 2, 723,000 2,140,000 340,000 3, 500,000 630,000 245,000 621,000 Private 425,000 65,000 50,000 310,000 1 Including 1% private l)acks, figures for which are incomplete. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 98.—BANK SUSPENSIONS, 1921-1926: NUMBER, CAPITAL, AND DEPOSITS, BY CLASSES OF BANKS—Continued NONMEMBER BANKS—Continued DEPOSITS Total Suspensions, by Federal reserve districts Year Suspended Reopened Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in o n li e s - K C an it s y as Dallas Sa C n J S F C r O an- 1921 $155,851,000 $14,361,000 $17,366,000'$15,161,000 $2,400,000 $825, 000 $7,892,000 $16,184,000 $16,402,000 $9, 395, 000 $15,908,000 $19,984,000 $17,267,000 $17,067,000 1922 86, 478,000 23, 947,000 1, 861, 000 415,000 778,000 10,965,000 6,108,000 3, 375,000 9,150,000 11,010,000 26, 907,000 5, 499,000 10, 410,000 1923 137,577,000 6, 499,000 1,489,000 2,000 2, 695,000 648, 000 8,341,000 6, 310, 000 14,047,000 5, 392,000 52, 667,000 37, 256,000 5, 970,000 2, 760,000 W 1924 138,975,000 15,272,000 981, 000 654, 000 1,137, 000 4, 280, 000 3,134, 000 28,718,000 12,305,000 59, 588, 000 18, 207, 000 5, 905, 000 4,066,000 H 1925 105,636,000 9. 837,000 ~f~298~666~ 2, 665,000 6, 003,000 9, 547, 000 2,179,000 21,724,000 11,916,000 26, 443,000 12, 288,000 6,189,000 5,384,000 1926 203, 676,000 52,001,000 384,000 3,147,000 12,620,000 62, 925,000 32,069,000 15, 776,000 50,211,000 18,214,000 4, 806,000 3, 524,000 Total suspended..828,193,000 22, 014,000 16,144,000 9, 213,000 12,538,000 53,645,000 96, 840,000 116,335,000 63, 934,000 215,827,000 132,856,000 45, 636,000 43,211,000 Nonm ember State 793,961,000 22,014,000 14, 502,000 5, 861,000 11,934,000 53,615,000 96, 498,000 97, 525, 000 63, 853,000 212,325,000 132,716,000 39, 907,000 43,211,000 Private 34, 232,000 1,642,000 3. 352.000 604,000 30,000 342,000 18,810,000 81,000 3, 502, 000 140,000 5, 729,000 Total reopened. .- 121,917,000 14, 232,000 766,000 2,519,000 30, 432, 000 20, 002,000 2,751,000 37, 937,000 5, 976,000 2,099,000 5, 203,000 - Nonm ember State 119,826,000 14, 232,000 766,000 2, 519, 000 30, 432, 000 19,670,000 2,751,000 37, 467, 000 5, 976,000 810,000 5, 203,000 Private 2 091 000 332,000 470,000 1, 289,000 i W ft > to O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 99.—BANK SUSPENSIONS: NUMBER, CLASSIFIED ACCORDING TO CAPITAL STOCK ALL BANKS 1921 1922 1923 1924 1925 1926 Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- Less than $25,000 194 117 296 320 234 384 $25,000- 104 85 152 191 135 230 2 $25,001 to $49,999 31 39 49 55 46 100 2 1 $50,000 to $99,999 78 53 91 130 133 164 1 $100,000 to $199,999 48 24 32 61 43 46 $200,000 to $600,000 1 16 15 216 15 18 16 Not available 31 21 14 3 16 1 Total 502 354 650 777 612 956 4 OC OC 1926, by Federal reserve districts Rich- At- Chi- mond lanta cago 20 55 48 16 46 47 10 14 99 9 35 4 8 2 4 9 61 162 CO i—( oococ- St. Louis 37 6 4 11 182 OO QO^ San Minne- Kansas Dallas Fran- apolis City cisco 142 64 16 2 78 19 11 5 28 10 7 2 33 13 10 4 2 4 3 1 1 2 1 3 77 283 112 50 16 NATIONAL BANKS $25,000 23 $25,001 to $49,999 2 $50,000 to $99,999 14 $100,000 to $199,999 $200,000 to $600,000 Total - DC OC 14 41 44 5 10 9 13 26 42 7 9 6 4 51 45 90 OC OO 41 46 1 7 24 6 4 2 5 20 1 1 5 5 4 3 46 45 1 2 20 4 11 3 2 2 15 12 1 1 1 4 2 2 1 11 2 1 1 122 118 125 1 2 4 4 36 8 40 13 11 6 STATE MEMBEE.BANKS Less than $25 000 1 2 1 1 $25,000--. 2 4 11 9 11 5 I 3 1 $25,001 to $49,999 3 5 2 4 1 7 3 1 1 $50,000 to $99,999 7 1 14 10 8 12 i i 4 2 1 1 $100,000 to $199,999 5 1 4 12 5 7 1 4 1 1 $200,000 to $600,000 32 1 3 2 2 2 1 I Total 19 12 34 37 28 35 8 16 4 1 1 3 2 1 NONMEMBER BANKS Less than $25,000 194 117 296 320 233 382 20 55 47 37 142 64 15 2 $25,000 79 67 100 138 83 179 2 15 44 37 5 54 13 7 2 $25,001 to $49,999 26 29 37 42 40 73 1 9 12 14 3 23 6 4 1 $50,000 to $99,999 . 57 39 51 78 79 107 1 3 8 29 14 12 21 10 7 2 $100,000 to $199,999 34 16 19 30 23 27 2 3 6 5 5 2 4 $200,000 to $600,000 * 11 8 29 5 5 12 2 4 2 3 1 Not available 31 21 14 5 3 16 1 11 1 3 Total... 432 297 526 618 466 796 3 7 57 150 130 65 242 98 36 8 1 Includes 3 banks with capital of $1,000,000 and 1 with $1,309,000. 3 Includes 1 bank with capital of $1,000,000. CO 2 Includes 1 bank with capital of $750,000. * Includes 2 banks with capital of $1,000,000 and 1 with $1,309,000. O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

196 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 100.—BANK SUSPENSIONS DURING 1926: BY SIZE OF TOWN OR CITY Number of suspensions in places with population of— Total State num- Capital Deposits ber Less 500 1,000 1,500 2,500 5,000 10,00025,000 than to to to to to to and 500 999 1,499 2,499 4,999 9,99924,999 over Middle Atlantic: Pennsylvania 6 $378,000 $1,829,000 2 4 East North Central: Ohio _.-_... 6 335,000 3,670,000 1 2 1 2 Indiana 7 248,000 1,312,000 1 1 2 2 1 Illinois 20 868,000 6,403,000 12 2 2 1 1 1 1 Michigan 23 200,000 3, 707,000 13 5 4 1 Wisconsin 11 215,000 2, 401,000 3 5 1 1 1 Total 67 1,866,000 17,493, 000 30 13 9 4 6 2 2 1 West North Central: Minnesota 92 2,354,000 25, 013, 000 42 14 11 9 6 3 7 Iowa - - - 135 5,855, 000 49,381, 000 46 41 13 8 21 4 1 1 Missouri 58 2,150,000 14,910,000 22 8 3 7 4 2 6 6 North Dakota 59 1,195,000 8,901,000 39 12 4 1 1 2 South Dakota _. 115 2,805,000 29, 530,000 59 28 18 8 2 Nebraska 18 430,000 3, 256, 000 9 3 1 1 2 1 1 Kansas 46 932,000 8,133,000 24 7 4 2 4 1 4 Total 523 15,721,000 139,124,000 241 113 54 36 40 12 8 19 South Atlantic: Virginia 102, 000 900,000 3 1 West Virginia 75,000 184,000 2 North Carolina... 11 437, 000 2, 063,000 3 1 3 2 2 South Carolina... 44 1, 775, 000 10,841, 000 10 10 5 9 5 5 Georgia . _ _ 102 3, 603, 000 20,181,000 31 29 14 13 5 5 5 Florida 43 2,080, 000 41, 707, 000 4 8 8 7 6 4 5 1 Total 206 8, 072,000 75, 876, 000 51 50 30 31 17 9 5 13 East South Central: Kentucky 6 217,000 1, 732, 000 5 1 Tennessee 12 618, 000 4, 994,000 3 4 1 1 1 2 \labama 2 75,000 339, 000 1 1 Mississippi 5 330. 000 1, 252, 000 I 2 1 Total 25~ 1, 240, 000 8,317,000 4 11 4 1 2 1 2 West South Central: Arkansas 19 1,178, 000 7,751,000 1 2 2 3 2 1 1 Louisiana 8 465, 000 1 988, 000 1 1 2 3 1 Oklahoma 21 450,000 2, 927, 000 2 2 2 Texas 38 1, 329, 000 7, 725, 000 9 6 6 5 2 3 4 3 Total 86 3, 422, 000 20,391,000 24 10 12 15 10 6 5 4 Mountain: M!ontana 8 220, 000 377, 000 6 1 1 Idaho 4 105 000 < 615,000 2 2 Wyoming 3 85,000 i 214,000 3 Colorado 14 410,000 '• 2 285,000 6 2 2 1 1 1 1 New M^exico 1 25,000 '•• '35,000 1 Arizona 1 25,000 ! 86,000 1 Total 31 870, 000! 3, 612, 000 17 4 4 1 2 2 1 Pacific: Washington 2 75,000 189, 000 1 1 Oregon 5 145,000 ! 1.341,000 4 1 California 5 1, 015, 000' 4,316,000 1 1 2 1 Total 12 i 1, 235,000i 5,846,000 5 1 2 2 2 Total: Member 160 8, 569, 000: 68,812,000 ! 28 33 28 28 27 9 3 4 Nonmember 796 24, 235, 000 203, 676, 0001 344, 171 87 60 52 21 19 42 Grand total: 1926 956 32, 804, 000^272,488,000 1 372 204 115 88 79 30 22 46 1925 612 24,441,000 172,900,000 • 226 130 67 56 60 32 18 23 1924 . . 777 28,373,000 1213,444,000 ! 335 158 71 75 55 29 22 32 1923 650 21,978, 000 188,805, 000 332 105 58 55 35 24 14 27 1922 354 13, 743, 0001110,721, 000 120i 75 23 44 30 18 12 32 1921 502 22, 902,000 !198,354,000 181 99 47 39 33 33 21 49 Cumulative per cent: 1926 38.9 60.3 72.3 81.5 89.8 92.9 95.2 100 1925 36.9 ! 58.1 69.1 78.3 88.1 93.3 96.2 100 1924 43.1 63.4 72.6 82.3 89.4 93.1 95.9 100 1923 51.1 67.2 76.2 84.6 90.0 93.7 95.8 100 1922 33.9 55.1 61.6 74.0 82.5 87.6 91.0 100 1921 36.1 55. 8 65.1 72.9 79.5 86.1 90.2 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPORT OF THE PEDEEAL BESERVE BOARD 197 GOLD IMPORTS AND EXPORTS OF THE UNITED STATES No. 101.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY YEARS, 1914-1926 [In thousands of dollars] Net im- Net im- Year Imports Exports p e o x r p t o s r o ts r Year Imports Exports p e o x r p t o s r o ts r 1914 1.. 26,645 138,642 -111,997 1921 691,267 23,891 667,376 1915 451,955 31,426 420, 529 1922 275,170 36,875 238,295 1916.. 685,990 155,793 530,197 1923 322,715 28,643 294,072 1917 .- 552,454 371,884 180, 570 1924.. 319, 721 61,648 258,073 1918 62,043 41,070 20,973 1925 128,273 262,640 -134,367 1919 76, 534 368,185 -291,651 1926 _... 213,474 115, 708 97,766 1920 417,068 322,091 94,977 i Last half of year. No. 102.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY COUNTRIES, 1923-1926 [In thousands of dollars] Country 1923 1924 1925 1926 Country 1923 1924 1925 1926 IMPORTS EXPORTS Denmark 3,562 France 2,660 114 18 France 19,036 24,459 6,i 351 Germany 20,000 68,270 47, 560 Germany 49,552 4,829 2 1 Great Britain ~"l38 12,264 6,160 Great Britain... 149,672 1301;,909 49,295 1,212 Italy. 1,050 Greece Netherlands 1,324 4,318 Italy 78 2,737 7 Poland and Danzig. 1,104 Netherlands 13,292 50,965 10,085 Spain 365 392 Norway Sweden. 2,000 1,003 36 87 105 Switzerland . 1,380 43 Sweden.. 5 6,523 Canada 1,705 3,102 45, 658 42,392 Canada 49,374 41,496 33,123 82,513 Central America.. 1 1,503 3,855 Central America 2,444 2,131 2,324 1,516 Mexico.._ l~706 4,029 8,810 6,202 Mexico _ 6,581 5,458 5,09; 23, 913 West Indies 10 214 154 West Indies 548 372 611 405 Argentina.. 49i 1 7,573 438 Argentina. 5,338 22,305 2 Brazil 46 281 369 Chile 245 431 447 21,184 Colombia.. 5 3,004 2,019 Colombia.. 4,452 2,289 1,611 1,663 Uruguay... 130 802 Ecuador.. . 706 897 896 1,307 Venezuela. 1,102 2,660 1,700 Peru 2,070 2,710 1,728 2,644 Venezuela. 317 393 Australia 26,925 British India 14,637 11,025 58, 775 578 Australia.._ _ 32 1,712 2 51,119 British Malaya 4 31 7,378 3,342 China 5,588 5,022 120 5,032 China 110 1,203 454 Dutch East Indies. _. 2,330 2,356 2,108 1,707 Dutch East Indies... 60 323 1,313 2,221 Hongkong. 319 2,500 1,508 Hongkong _. 2,378 4,383 12,276 4,041 Japan. 6 11,008 14,000 Philippine Islands... 800 30 New Zealand 1,624 1,158 241 213 All other 'IB 375 599 370 Philippine Islands... 1,572 4,814 1,833 1,990 Total. 28,643 61,648 262,640115,708 Egypt 1,737 1,455 15 30 Portuguese Africa 932 610 552 244 All other.. 899 1,200 160 Total. 322, 716 319, 721 128,273 213,474 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

198 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No- 103.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY MONTHS, JULY, 1919-DECEMBER, 1926 [In thousands of dollars] Net im- Net im- Year and month Imports Exports p e o x r p t o s r o ts r Year and month Imports Exports p e o x r p t o s r o ts r ( 1919 1923 ; July... 1,846 54,673 -52,827 January __| 32,8 24, 348 A Se u p g t u em st ber 2 1 , ,4 4 7 9 2 0 4 2 5 9, , 0 1 5 8 1 9 - - 4 2 2 7 , , 6 5 9 7 9 9 F M e a b r r c u h ary. 1 8 5, , 3 9 8 5 3 1 6 5 , , 9 5 8 5 4 9 N O D o c e t c v o e e b m m e b r b e e r r 1 4 2 2 , , , 9 3 9 7 9 1 0 7 4 4 4 5 6 1 4 , , , 1 2 8 4 5 5 9 7 8 - - - 4 3 3 9 9 3, , , 4 1 3 6 7 4 1 9 3 J A J M u u p l a n r y y e il . ... . 4 2 1 9 6 7 9 , . , , 1 1 4 9 8 5 3 3 8 6 3 0 4 2 1 5 7 8 8 , . , , 5 8 4 3 3 8 0 3 3 5 7 2 Total. 26, 089 271,177 -245, 088 A Se u p g t u e s m t ber. 2 3 7 2, , 8 8 5 0 6 4 2 3 6 0 , , 9 6 4 5 1 5 October 29, 795 24, 488 1920 N D o ec v e e m m b b e e r r . . . 3 3 9 2 , , 6 7 4 5 1 8 3 31 9 , , 0 9 1 3 1 0 January 12,018 47, 817 -35. 799 February 4,473 42,873 -38,400 Total I 322,715 28,643 | 294,072 March. 16, 985 47,050 -30.065 April.... 48, 522 44,622 3,890 1924 j May 15, 688 7,562 8,126 January 45,136 281 44, 855 June. .- 26, 765 5,320 21, 445 February 35, 111 505 34,606 July... 19, 818 21, 873 -2,055 March . 34.322 817 33,505 August 15, 378 24, 986 -9,608 April 45,418 1,391 44, 027 September ... 39,110 17,129 21, 981 May 41,074 593 40,481 October 116, 762 25, 931 90.831 June ! 25,181 268 24. 913 November 56, 889 19, 870 37, 019 j July ! 18,835 327 18, 508 December 44, 660 17, 058 27,602 j August-. 18,150 2,397 15. 753 September- 6,656 4,580 2,076 Total. 417,068 322,091 94, 977 October 19, 702 4,125 15, 577 November. 19, 862 6,689 13,173 December.. 10, 274 39. 675 -29, 401 1921 Total 319,721 61,648 258,073 January... 33,634 2,725 30,909 February... ._ 42,627 1,036 41, 591 1925 ! March 87,272 710 86, 562 January I 5,038 73, 526 -68, 488 April .- 80,662 384 80, 278 February j 3,602 50, 600 -46, 998 May 58,171 1,062 57,109 March j 7.337 25,105 -17, 768 June,. I 43,576 773 42, 803 April ! 8,870 21, 604 -12, 734 July 64,248 3, 735 60, 513 May | 11,393 13,390 -1, 997 August 84,902 672 84, 230 June i 4,426 6,712 -2, 286 September. 66,085 2,449 63,636 ij July 10, 204 4,416 5,788 October 47,107 7,576 39, 531 August | 4,862 2,136 2,726 November. J 51, 607 50, 691 September 4,128 6,784 -2, 656 December 31,685 2,162 29, 523 October. 50, 741 28, 039 22, 702 November. _ 10, 456 24, 360 -13, 904 Total 691,267 23, 891 667, 376 December. _. 7,216 5,968 1,248 Total. 128, 273 262, 640 -134, 367 1922 1926 January 26, 571 863 25, 708 January 19,351 3,087 16,264 February. _ 28, 739 1,732 27,007 February 25,415 3,851 21, 564 March 33, 488 963 32, 525 March 43,413 4,225 39.188 April 12, 244 1,579 10, 665 April. ! 13,116 17, 884 -4, 768 May....... 8,994 3,407 5, 587 May. 2, 935 9,343 -6,408 June 12, 977 1,601 11, 376 June 18,890 3,345 15, 545 July 42, 987 644 42, 343 July 19, 820 5,070 14, 750 August 19, 092 956 18,136 August 11, 978 29, 743 -17, 765 September. 24, 464 1.398 23, 066 September- 15, 987 23, 081 -7,094 October 20, 866 17, 591 3,275 October 8,857 1,156 7,701 November. 18,308 3,431 14, 877 November. 16, 738 7,727 9,011 December I 26,440 2,710 23, 730 December.. 16, 974 7,196 9,778 Total | 275,170 ! 36,875 238, 295 Total . 213, 474 115, 708 97, 766 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

199 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD UNITED STATES MONEY IN CIRCULATION No. 104.—MONEY IN CIRCULATION: l DURING 1926, BY KINDS OF MONEY [In millions of dollars] Date Total G c b l a i o n u o o i l l d n n d - c c G e a r o t t i e l f d s i- d S s o t i a a l l r v l n d a e d r r s - c S c e i a r l t t v i e f e s i r - T n 1 u r o o 8 e r t 9 f y a e 0 s s - s s i S i d l u i v a b e r - r y U S n n t o a i t t t e e e s s d re n F e s o e r e t a d r e v l - s e re b n F e s o a e r e n t a d r e v l k - s e t n b i N o o a n n t a e a - k s l 1926 Jan. 1 5,008 424 L, 114 55 387 1 275 293 1,816 6 636 Feb. 1 4,740 407 L, 036 53 371 1 266 289 1,672 6 638 Mar. 1 4,814 422 L, 076 53 371 1 266 294 1,672 6 654 Apr. 1 4,806 451 L, 089 52 365 1 267 289 1,639 6 646 May 1. 4,854 455 L, 099 52 364 1 267 293 1,663 6 655 June 1 4,871 454 ,074 52 370 1 268 291 1,694 6 661 Julvl. 4,835 445 L, 057 52 378 1 270 295 1,679 6 651 Aug. 1 4,858 444 L, 072 52 384 1 270 296 1,679 5 654 Sept. 1 4,864 428 ,086 52 386 1 272 301 1,684 5 649 Oct. 1 4,906 422 ,101 52 391 1 275 302 1,709 5 647 Nov. 1 4,933 407 ,101 52 393 1 277 307 1,737 5 651 Dec. 1 4,949 409 ,096 52 391 1 280 303 1,764 5 648 No. 105.—MONEY IN CIRCULATION: l BY MONTHS, 1914-1926 [In millions of dollars] Date 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 Jan. 1 4,605 4,733 4,951 4,993 5,008 Feb. 1 4,353 4,509 4,682 4,752 4,740 Mar. l... 4,402 4,611 4,808 4,804 4,814 Apr. 1.. 4,101 4,413 4,656 4,813 4,776 4,806 May l... 4,385 4,668 4,760 4,725 4, 854 June 1 4,370 4,706 4,815 4,774 4,871 July l... 3,402 3,261 3,591 3,849 4,336 4,795 5,332 4,843 4,374 4,729 4,755 4,736 4,835 Aug 1 4,723 4,337 4,696 4,665 4,720 4,858 Sept. 1... 4,659 4,394 4,778 4,774 4,784 4,864 Oct. 1.- 4,665 4,521 4,850 4,806 4,827 4,906 Nov. 1 5,628 4,611 4,570 4,835 4,880 4,901 4,933 Dec 1 4,561 4,617 4,923 4,994 4,972 4,949 No. 106.—MONEY IN CIRCULATION: l MONTHLY AVERAGES, 1922-1926 [In millions of dollars] Total money in circulation (averages of first of month figures for two consecu- Federal re a se g r e v s e o n f o d t a e i s l y in c fi i g r u c r u e l s a ) tion (aver- Month tive months) 1922 1923 1924 1925 1926 1922 1923 1924 1925 1926 J anuary 4,479 4,621 4,816 4, 872 4,874 2,272 2,289 2,113 1,754 1,737 February 4,377 4,560 4,745 4,778 4,777 2,177 2,245 2,035 1,715 1,676 March 4,408 4,633 4,810 4,790 4,810 2,195 2,253 2,014 1,731 1,673 April 4,399 4,662 4,786 4,751 4,830 2,190 2,236 1, 971 1,709 1,675 May 4,378 4,687 4,788 4,750 4,863 2,153 2,243 1,915 1,685 1,687 June . - 4,373 4,718 4,785 4,754 4,852 2,138 2,247 1,871 1,660 1,703 Julv 4,356 4,713 4,710 4, 727 4,847 2,157 2,242 1,825 1,636 1,715 August 4,365 4,737 4,720 4, 752 4,861 2,151 2,229 1,757 1,626 1,699 September 4,457 4,814 4,790 4,806 4,885 2,225 2,264 1,750 1,680 1, 734 -October 4,546 4,843 4,843 4,864 4,920 2,309 2,276 1,769 1,714 1,750 November 4,593 4,879 4,937 4,936 4,941 2,325 2,257 1,836 1,724 1,767 December 4,675 4,937 4,993 4,990 4,975 2,416 2,292 1,884 1, 817 1,856 Digitized for iF MRoAnSeEy Rou tside the United States Treasury and Federal reserve banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

200 ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD MONEY RATES IN NEW YORK CITY No. 107.—OPEN-MARKET MONEY RATES IN NEW YORK CITY DURING 1926, BY WEEKS [Per cent] Prevailing rate on- Average rate on— Average yield on— Week ending- U.S. Call loans1 l T oa im ns e 2 n T o r t e e a s s u an ry d M L i p b e e r r t c y ent certificates, bonds 3-6 months 1926 Jan. 2 6.00 5.00 3.55 4.06 9 4.70 4.89 3.56 4.05 16 4.40 4.85 3.57 4.04 23 4.20 4.80 3.49 4.03 30 4.00 4.61 3.33 4.01 Feb. 6 4.50 4.57 3.25 4.01 13 5.25 4.69 3.26 4.01 20 4M 4.75 4.69 3.12 4.01 27 434 5.00 4.80 3.07 4.00 Mar. 6 4.80 4.87 3.09 3.99 13.._ 4.25 4.80 2.89 3.97 20 4.25 4.65 3 3.27 3.98 27 4.70 4.59 3.25 3.98 Apr. 3 4.94 4.66 3.21 3.97 10 4.20 4.50 3.15 3.96 17 - 4.40 4.39 3.07 3.94 24.... 3.85 4.23 3.04 3.93 May 1 3.60 4.00 3.03 3. 92 8 3.70 4.03 3.12 3.92 15 3.90 4.05 3.19 3.92 22 3.75 4.00 3.19 3.94 29 3.90 4.03 3.18 3.94 June 5-._ -. 4.12 4.16 3.10 3.93 12 _ 4.00 4.19 2.89 3.90 19 3.85 4.19 3 2.75 3.89 26 4.25 4.25 2.90 3.89 July 3 4.70 4.25 3.08 3.90 10 4.50 4.27 3.08 3.90 17 _.. 4.45 4.36 3.13 3.93 24 4.05 4.35 3.07 3.95 31 4.00 4.55 3.15 3.93 Aug. 7 4 -4^: 4.30 4.63 3.20 3.94 14... 4.40 4.66 3.26 3.95 21 434-434 4.50 4.88 3.32 3.97 28 434-434 4.70 4.80 3.30 3.96 Sept. 4 4.80 4.70 3.28 3.95 11 4.88 4.89 3.25 3.95 18 4.90 4.88 3 3.42 3.96 25 5.30 4.96 3.52 3.96 Oct. 2 5.30 5.04 3.58 3.97 9 _.. V2H 4.80 5.05 3.58 3.96 16 43^4%! 5.00 5.00 3.59 3.95 23 4.60 4.99 3.56 3.94 30 4^4^1 3J/8| 4.50 4.91 3.57 3.94 Nov. 6 4.50 4.80 3.57 3.93 13 4.30 4.64 3.44 3.92 20 3M! 4.70 4.74 3.37 3.91 27-.. 4.50 4.63 3.15 Dec. 4 5.00 4.67 3.07 3.90 11 4.80 4.69 3.07 3.87 18 4.90 4.69 3 3.05 3.83 25... 5.50 4.71 3.03 3.83 1 Stock exchange call loans; renewal rate. 2 Stock exchange time loans; weekly average of daily average rates on principal maturities. 3 Change of issues on which yield is computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

201 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BOARD INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE No. 108.—INDEXES OP PRODUCTION, 1919-1926» [Monthly average, 1923-1925=1001 p I r n t t o r i d o i d u a u n l s c - - m P ti a r t o u o n n r d u e f u s o a c c f - - m P ti r o i o n n d e r u a o c l f - s p I r n t t o r i d o i d u a n u l s c - - m P ti a r t o u o n n r d u e f u s o a c c f - - m P ti r i o o n n d e r u o a c l f - s ANNUAL INDEXES 1922—Continued 1919 83 84 77 August .. 83 87 62 1920 87 87 89 September 88 89 82 1921 67 67 70 October 94 94 92 1922 85 87 74 November 97 98 94 1923 101 101 105 December 100 100 99 1924 95 94 96 1925 104 105 99 1923 1926 108 108 107 January... 100 100 100 February 100 100 100 MONTHLY INDEXES March 104 103 106 April 107 106 112 1919 May 107 107 108 January 83 84 78 June - 105 104 107 February 80 81 69 July „•- 103 102 109 March 77 78 68 August ... 102 101 110 April . 78 79 73 September 100 101 98 May 77 78 75 October ___ 99 98 105 June 83 84 78 November 97 96 104 July 87 88 82 December 96 95 99 August — . 89 90 79 September 87 87 85 1924 October 86 85 88 January 98 99 103 November 85 89 61 February 102 102 106 December 85 87 74 March 101 101 101 April 95 95 92 1920 May 89 88 93 January 95 96 85 June 85 83 91 February 95 97 84 July 83 82 90 March 94 95 89 August .__ 89 89 92 April 88 89 83 September 94 93 97 May 90 91 85 October __..._. 95 95 97 June . . . .. 90 90 90 November 97 97 96 July 88 88 89 December.. ... 100 101 100 August 88 88 92 September 85 85 85 1925 October 82 80 91 January. 105 105 105 November 75 72 92 February. 105 106 101 December 70 67 91 March _ 105 106 98 April 103 103 99 1921 May 103 103 104 January 67 65 80 June . . 101 101 99 February 66 64 77 July 103 103 102 March 65 63 74 August .... 103 103 107 April 65 63 73 September 102 104 90 May 66 65 74 October 105 107 91 June. 65 64 71 November 106 108 94 July 64 64 67 December. 108 110 94 August 66 66 69 September. 67 67 68 1926 October 71 71 73 January... _ 106 108 93 November 71 1 72 67 February 107 109 98 December 70 70 67 March 108 108 108 April.. 108 108 107 1922 May 107 107 103 January 74 73 76 June 107 107 104 February 76 75 87 July 107 107 105 March 81 78 97 August 111 112 109 April 77 81 53 September 113 113 111 May 81 86 53 October. 111 111 116 June 85 1 90 58 November 108 106 118 July . . 84 89 56 December 105 103 120 i The combined index of industrial production is computed from figures for 60 statistical series—52 of manufactures and 8 of minerals. Adjustments have been made in the different industries for the varying number of working-days in each month and for customary seasonal variations, and the individual products and industries have been weighted in accordance with their relative importance. The sources of data and methods of construction were described and monthly indexes for the above groups were published in the Federal Reserve Bulletins for February and March, 1927, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

202 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD No. 109.—INDEX OF PRODUCTION OF MANUFACTURES, BY GROUPS, 1919-1926 [Adjusted for seasonal variations. 1923-1925 average«=100J m tu f A a a r c n l e l - u s - s I a r t n e o e d n l T ti e l x e - s F p u r o c o o t d d s - p P r a a i i n p n n d g e t r - L b u e m r - b A i u le - s Le s a h a n o t e h d s erm b g a r e C l i n e n a c s - d t k s , , N r m f a o o e e l n r u t - s - s - P l r e e i e t f n u i r g n m o - - R t b u i e r b e r - s m H t a f a u a n c r c e u c - s - o ANNUAL INDEXES 1919. 84 82 94 76 79 51 104 55 67 54 82 1920 87 99 84 87 79 56 97 66 78 64 87 1921 67 46 83 70 42 90 63 39 64 55 85 1922. 87 82 94 85 ! 89 66 102 80 69 74 77 89 1923.... 101 105 105 99 95 I 99 102 110 95 94 86 86 96 1924. 94 89 91 103 99 I 96 91 94 95 99 99 98 99 1925 105 106 104 106 I 105 107 96 110 107 115 116 105 1926 108 113 104 114 I 100 110 98 114 112 125 118 114 MONTHLY INDEXES 1919 January 84 100 76 93 57 108 34 78 48 75 February,_. 81 96 70 92 51 99 38 71 50 79 March 78 85 71 90 48 96 40 60 49 87 April 79 74 83 95 45 101 45 60 53 73 May 78; 65 92 97 i 40 106 53 50 56 72 June 84 i 81 96 92 i 40 102 56 53 55 74 July 1 88 91 101 92 j 79 47 100 60 56 54 75 August 90 I 98 98 90 81 48 105 64 67 55 81 September.. 87 77 103 96 ! 83 , 53 106 67 75 56 84 October 85 67 106 93 i 85 63 103 66 72 58 89 Novemb3r__. 89 74 108 91 ! 84 68 109 66 80 57 101 December. _. 87 75 104 78 72 109 51 79 55 104 1920 January 96 96 104 87 ; 113 82 85 54 100 February._. 97 I 102 105 91 ; 79 107 83 83 55 92 March 95 i 101 102 87 88 i 68 105 75 83 58 100 April 89 ! 88 103 80 87 52 105 67 81 58 93 May 91 ii 100 96 78 56 120 65 78 60 93 June 90 11 106 84 79 | 56 116 64 83 65 87 July-. 103 79 84 92 74 ! 57 106 60 83 64 77 August 108 78 82 | 76 | 53 93 62 81 68 81 September.. 85 | 107 76 78 I 75 50 79 60 75 70 81 October 80 l|101 68 74 | 75 40 66 65 70 70 81 November.. 72 |i 89 58 81 | 69 ! 34 62 65 70 70 21 December. _. 67 -I 83 50 75 ! 61 35 67 64 62 70 16 70 1921 January 65 71 77 I 54 i 25 70 46 59 69 22 81 February._. 64 i 61 80 I 62 ! 31 72 46 53 64 24 91 March 63 47 83 ; 64 | 41 74 51 52 61 30 89 April 63 i 39 85 64 ! 47 81 60 43 65 45 86 May 65 42 82 69 I 46 91 63 31 63 58 83 June 64 35 83 67 | 41 101 67 29 63 66 82 July 64 30 86 69 ! 45 108 68 27 60 85 82 August 66 39 91 ! 45 98 71 31 61 86 89 September.. 67 40 87 47 96 68 34 62 64 88 October 71 51 89 46 97 71 34 65 65 90 November.. 72 53 83 43 97 68 39 65 58 85 December... 70 49 82 36 102 63 39 65 60 74 1922 January 73 97 85 85 44 101 56 46 65 63 79 February 75 93 91 81 46 98 57 51 65 63 78 March 78 94 90 78 49 97 70 57 68 68 80 April.. 81 88 89 81 56 99 76 62 69 69 83 May 86 94 94 87 60 97 80 64 73 72 86 June 90 97 97 ! 93 70 99 83 71 76 81 92 July 94 96 97 | 92 70 100 82 74 80 83 93 August 87 76 101 99 j 92 74 99 77 74 77 81 102 September.. 89 Ii 83 102 94 I 92 68 105 84 77 78! 83 79 October 94 95 106 95 ! 94 ! 76 108 92 80 78 88 86 November.. , 96 112 101 ! 95 I 87 114 91 83 81 92 92 December... 100 11 101 112 101 i 96 I 93 115 93 83 81 92 91 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

203 FEDERAL RESERVE BOARD INDEXES No. 109.—INDEX OF PRODUCTION OF MANUFACTURES, BY GROUPS, 1919-1926— Continued [Adjusted for seasonal variations. 1923-1925 average=100] m tu f A a a r c n l e - l u s - s I a r t n e o e d n l T ti e le x s - F p u o r c o o t d s d - p P a r i a n n i p n g d e t- r L b u e m r - b m A t i o l o u e - - - s L s e a h a n o t d e h s er b m a r C i e n c e n d - k t , , N r m f o e o u r e n - t s - - P r le e e in u f t i r g m n o - - R t b i u r e b e r - s m b T f a a a c o c n c - - u o glass als tures MONTHLY INDEXES— continued 1923 January 100 104 108 92 93 98 94 112 103 87 84 94 97 February... 100 105 111 95 94 90 94 113 94 87 84 97 97 March 103 105 113 105 93 97 97 117 97 93 84 103 95 April 106 116 115 106 96 99 97 117 95 95 86 101 96 May 107 120 112 101 98 98 99 117 94 97 86 98 94 June . - 104 114 109 95 99 98 102 117 91 95 88 88 95 July 102 115 102 96 96 102 100 112 92 95 87 66 95 August 101 109 100 100 96 99 100 108 94 95 86 67 93 September.. 101 105 102 100 94 102 110 107 97 94 87 71 98 October 98 97 97 105 94 100 110 102 94 92 87 76 97 November.. 96 89 98 104 91 99 112 102 95 97 89 81 98 December. .. 95 89 93 102 92 100 117 98 98 97 90 85 95 1924 January 99 99 97 101 98 97 115 97 98 96 92 96 102 February... 102 110 94 105 100 102 117 97 98 100 95 93 95 March 101 112 92 103 102 98 105 96 96 98 97 95 98 April 95 95 89 100 103 98 93 91 93 96 101 90 96 May 88 76 82 102 99 95 80 91 94 102 101 83 102 June .. 83 65 77 102 97 91 71 89 93 100 99 80 100 July 82 59 78 104 94 89 78 86 94 98 95 82 98 August 89 76 82 103 96 95 89 90 91 97 98 98 101 September.. 93 84 93 103 99 95 92 93 92 100 99 116 99 October 95 84 99 100 100 95 86 96 96 100 99 123 96 November.. 97 90 99 103 100 98 85 96 100 100 102 115 100 December... 101 104 102 102 101 101 76 96 101 101 104 112 103 1925 January 105 113 103 105 104 108 87 96 109 107 106 109 105 February... 106 113 103 105 105 106 92 98 108 110 110 111 104 March 106 112 107 95 106 104 100 98 110 111 110 108 104 April 103 101 107 94 106 102 106 97 110 108 112 110 103 May 103 101 105 92 105 102 110 96 110 104 115 117 104 June 101 96 102 96 103 101 110 92 109 104 121 119 105 July 103 95 105 95 106 103 116 97 112 106 120 133 105 August 103 103 103 95 106 106 82 100 114 104 120 126 105 September.. 104 104 101 101 106 108 102 98 112 107 116 122 105 October 107 104 104 99 108 108 133 99 111 109 117 109 105 November.. 108 113 106 94 110 106 132 95 109 108 117 112 105 December... 110 116 106 104 110 110 119 94 108 110 116 118 109 1926 January 108 116 103 100 112 100 114 92 114 109 116 115 108 February 109 113 104 94 113 110 118 94 113 109 117 112 109 March 108 115 104 96 113 105 113 94 110 108 119 107 117 April 108 115 101 95 114 106 110 93 107 ! 115 123 109 113 May 107 116 99 94 115 102 114 93 111 I 114 125 108 111 June 107 113 101 99 113 97 110 98 122 107 126 117 113 July 107 113 99 100 114 99 109 102 118 ! 109 126 118 109 August 112 120 105 103 115 94 134 103 119 110 128 128 113 September.. 113 117 110 103 116 100 127 105 119 112 128 138 113 October 111 114 110 102 118 97 106 106 114 113 129 126 116 November.. 106 105 110 99 115 95 89 100 106 121 133 106 116 December... 103 102 109 96 113 98 63 100 119 135 112 110 94 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

204 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 110.—INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS, 1919-1926 [Adjusted for seasonal variations. 1923-1925 average=100] All Bitu- Anthra- Crude Iron ore miner- minous cite petro- ship- Copper Zinc Lead Silver als coal coal leum ments ANNUAL INDEXES 1919 77 89 109 52 91 81 1920 89 109 110 61 113 85 87 1921. 70 79 112 64 36 30 39 66 84 1922. 74 78 65 75 82 62 68 77 87 1923 105 108 115 100 114 93 96 88 102 1924. . .. 96 92 108 97 82 100 97 102 100 1925 99 100 77 103 104 106 107 111 98 1926 107 110 105 104 113 110 116 115 95 MONTHLY INDEXES 1919 January.. _ . ... 78 88 118 51 96 February 69 78 91 49 84 March.. 68 82 79 50 69 April .. 73 87 107 48 69 May 75 92 106 47 99 64 June.. 78 94 106 51 98 67 July 82 101 111 54 100 73 August . _ 79 97 116 54 53 76 September 85 107 111 55 98 81 October. . . .. . . 88 115 119 53 85 80 November _. 61 41 121 54 80 85 December... 74 80 118 55 75 1920 January 85. 104 111 57 87 88 February 84 100 110 57 86 94 March 89 110 118 59 82 97 April ._ 83 103 98 59 81 96 May 85 100 118 58 108 80 95 June.. 90 110 116 59 109 82 93 July 89 107 116 60 106 80 89 August 92 I 111 117 62 111 83 88 September.. 85 111 70 62 107 79 87 October. 91 111 114 63 127 74 78 November 92 110 113 65 130 78 73 December 91 114 120 65 70 59 1921 January. . . 80 89 117 64 65 53 77 94 February . 77 77 130 64 61 40 73 107 March 74 72 114 67 64 32 60 111 April .. .. 73 75 124 66 38 35 58 83 May 74 89 115 66 40 18 38 57 77 June 71 83 114 65 42 15 44 54 76 July 67 75 108 64 46 14 34 55 76 August 69 76 106 65 50 16 34 65 71 September 68 76 110 60 47 17 34 64 79 October. _ 73 93 110 57 46 18 32 74 86 November 67 77 107 64 10 17 47 77 74 December _ . .. 67 68 91 70 14 46 79 76 . 1922 January... 76 84 100 72 19 48 78 76 February . 87 104 115 74 30 50 79 76 March . 97 120 134 77 45 53 71 76 April 53 46 0 74 57 54 73 77 May 53 51 0 73 24 68 57 71 77 June . . 58 55 1 73 78 71 65 70 90 July 56 43 2 75 102 72 71 72 84 August ._ 62 57 2 74 104 75 72 78 99 September 82 93 75 74 82 75 78 80 99 October 91 97 126 76 87 77 89 82 94 November 94 99 132 80 84 79 89 87 96 December 99 107 134 84 81 90 85 98 1923 January... 100 107 124 88 84 94 83 100 February . 100 107 124 88 82 95 84 93 March 106 112 133 94 88 98 91 111 April i 112 124 127 97 87 99 93 123 May.. . . . . 108 118 120 99 100 92 99 95 123 June 1 107 113 120 101 112 94 97 95 96 July 109 113 119 104 118 98 96 93 105 August 110 112 123 106 119 99 95 89 94 September 98 109 44 107 114 99 93 86 93 October. . . 105 102 116 108 112 99 93 75 99 November 1 104 95 115 110 121 99 98 84 96 Digitized forD FecReAmSbeErR 99 92 117 100 100 97 84 92 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL EESEBVE BOABD INDEXES 205 No. 110.—INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS, 1919-1926— Continued [Adjusted for seasonal variations. 1923-1925 average=100] All Bitu- Anthra- Crude Iron ore miner- minous cite petro- ship- Copper Zinc Lead Silver als coal leum ments MONTHLY INDEXES—COntd. 1924 January... 103 109 113 95 100 101 February._ 106 112 116 97 101 94 95 112 March 101 99 117 98 94 96 96 101 April 92 82 103 98 98 95 97 88 May._ 93 80 109 97 99 97 100 103 102 June 91 78 108 95 93 95 99 105 92 July 90 77 107 96 80 100 95 105 96 August 92 80 103 98 80 100 96 106 96 September . 97 93 110 97 74 101 97 115 103 October 97 97 103 95 77 103 94 105 103 November. 96 95 109 95 53 106 94 104 108 December.. 100 99 107 95 105 100 104 110 1925 January.. . 105 107 107 100 112 102 106 106 February.. 101 96 117 98 110 104 104 100 March 90 107 99 108 104 111 90 April 91 111 101 105 103 111 103 May.. 104 91 118 108 129 104 104 110 94 June 99 89 105 107 94 104 104 111 103 July 102 92 116 106 93 106 106 110 104 August 107 100 132 107 102 102 110 110 105 September. 90 102 1 106 88 107 112 109 90 October 91 107 1 103 96 106 112 117 85 November.. 94 112 •3 103 109 105 112 110 96 December.. 94 113 3 102 112 118 96 1926 January.. . 93 115 3 100 107 114 114 99 February.. 98 114 34 99 109 | 119 | 118 99 March 108 106 129 99 109 109 117 95 April 107 107 126 99 109 113 i 112 93 May _ 103 100 120 98 95 108 112 116 92 June 104 101 124 99 103 106 110 111 98 July. 105 101 118 103 109 112 107 113 90 August 109 103 121 106 128 108 119 110 93 September. 111 108 127 106 116 114 124 122 93 October 116 114 125 112 134 113 122 119 93 November. 118 125 113 117 97 116 121 118 93 December.. 120 124 111 121 112 119 125 109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

206 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 111.—INDEXES OF EMPLOYMENT, BUILDING AND TRADE l [Monthly average 1919 = 100] I Department- Department- Building con- Bank Y m ea o r n a th nd p m t F e o l a m o e r c y n y - - - t F t r p o o a a c l r y l - y s W tr s h a a o l d e l e e- j U u s n s t t a o e d r d e - s 1 a l j e A u s s d 2 t - ed U ju s n t s o t a e r d e d - sto j c u A k s s t d e 2 - d t U j r u a n s c a t t e s d d - a ! w j a u r A s d d t e e - d d 2 i l R r n o c o a a g a a i d r s d l - 2 - o o d C Y f u e i N o t b t s r i y e i k t d 2 w s e I 1920 average j 103 124 112 120 I. 133 99 108 ! 114 1921 average 82 84 73 Ill I. 115 90 94 | 91 1922 average 90 89 74 1121_ 116 123 103 94 1923 average 104 113 83 124 I. 129 133 119 107 1924 average 95 104 82 125 I. 133 150 117 108 1925 average 95 107 84 131 !. 135 193 123 | 121 1926 average 96 109 84 136 I. 137 j 205 128 ! 127 1926 I January ..' 96 107 114 130 125 141 176 243 118 i 126 February _| 97 112 104 135 131 140 157 218 127 128 March .! 97 113 130 130 142 141 231 209 126 131 April 110 ! 133 130 143 139 220 170 132 ! 131 May. _. 109 137 132 138 138 212 164 126 124 June 109 I 130 130 131 138 211 169 127 127 July...... 104 ! 99 133 125 133 200 178 130 136 August 108 ! 105 134 130 130 232 221 126 126 September 108 j 131 144 142 132 217 233 128 126 October.. 112 | 158 139 153 137 199 204 127 126 November. 109 | 156 138 156 138 188 235 132 123 December 108 234 146 128 138 207 281 132 126 1 Figures by months from 1919 to 1925 were given in the board's annual report for 1925, Table 108, pp. 205-207. 2 The indexes of car loadings and bank debits are adjusted to allow for seasonal variation; the innddeexes of building contracts and department-store sales and stocks are shown both with and without sesaeasonal adjustments. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPOET OF THE FEDERAL RESERVE BOARD 207 FOREIGN EXCHANGE RATES IN NEW YORK No. 112.—EXCHANGE RATES ON FOREIGN COUNTRIES: YEARLY AVERAGES, 1919-1926 [In cents per unit of foreign currency] ! Yearly average rate of exchange l Monetary Par of i Country unit changej 1921 1922 1923 ! 1924 1925 1926 Austria.. Schillingg. 14.07 14. 0612 14. 0740 Belgium. FFr anc 22 219.30 12. 7670 7.3800 7. 4461 5. 2l90i 4. 64384. 7580 3. 2649 Bulgaria. Lev 19.30 .6883 . 8837! . 7281 .7210 .7317 Czechoslova- Crown. 2. 4151 2.9550: 2.9542 2.9618 kia. 2. 9656 Denmark Krone _. 26.80 23.2850 15. 775017. 796520.9470 18.36431 16.7228 26. 2257 England 486. 65 442. 5800 366.4270 384.9056 442.9 9 165 457.48254 4 41. 7740642 14.821.3 180944 485.8235 Pound Finland Markka 2.52 2.1634 2.6831' 2.5076 2. 5218 2. 52G9 G Fr e a r n m c a e n .. y R Fr e a ic n h c s . mark. _ 2 1 3 9 . . 3 8 0 2 13 3 . . 6 8 0 2 4 0 40 7 1 . . 0 7 4 5 0 1 0 0 7 1 . . 4 2 5 0 5 4 4 5 8. .2 2 3 0 2 1 3 3 | 6 . . 0 0 0 8 2 1 0 1! 5.2368 23 4 . . 7 8 6 0 7 1 1 3 23 3 . . 2 7 4 9 2 96 7 I ! Greece Drachma 19.30 3.30591 1.7141! 1.7900 1. 5614 1. 2579 Hungary Pengo 17.49 17.5612 Italy Lira... _J 19.30 11.3690 4.9700 4.2936 4.7559 4.6016 4.3580 3. 97761 3. 8894 Netherlands _. Florin... 40.20 39.4170 34. 419033. 647038.4975 39.1005 38. 2109 40.1601 40. 0984 Norway Krone... 26.80 24. 576016. 530014.9071 17.50161 16.6710 13.9403 17.8836 22. 3347 Poland Zloty 19.30 17.7432 11.1796 Portugal Escudo.. 108. 05 6.6700 4.2527 3.3850 5.0397 5.1254 Rumania Leu. 19.30 .6969| . 4937 .4982 .4832 .4620 Spain Peseta. . 19.30 19.8230 15. 938013.5314 15.4828J 14.4529 13.3375 14.3443 14.8959 Sweden Krona._ 26.80 25. 542020.4940 22. 539726.16611 26.5548 26. 5223 26. 8479 26. 7646 Switzerland.. Franc... 19.30 18. 983016. 903017.3539 19.0652 18.0600 18. 2228 19. 3268 19. 3130 Yugoslavia... Dinar... 19.30 1.3524 1. 0722 1. 2818 1. 7054 1.7647 NORTH AMER- ICA Canada Dollar 100.00 95. 597089. 276089. 554998.4783 98. 0352 98. 7322 99. 9615 99. 9889 Cuba. Peso 100.00 99. 8516 99.9508 99.9783 99. 9359 99.9310 Mexico .....do 49.85 48. 7150 48. 5465 48. 5143 49. 3926 48. 3087 SOUTH AMER- ICA Argentina Peso (gold). 96.48 99. 018090. 704072.9999 81. 8166 78. 5727 78.1308 91.3822 92.1497 Brazil Milreis 32.44 26.7350 22. 513013.1153 12.9486 10. 2285 10.9403 12.1962 14.4357 Chile... Peso. 12.17 22. 555018.4540 12.0574 12. 2159 12. 2423 10. 5448 11. 603112. 0766 Uruguay -do. 103.42 79.3966 79. 0615 82. 2695 98.4009 101. 4740 ASIA China Mexican dol- 3 48.11 54.6337 52. 0153 55. 5471 49. 9159 lar. Do. Shanghai tael 3 6666.. 8855 129.8350 118. 599070.7787 74.9281 72. 0248 72. 6814 75.7738 68.4214 Hongkong Dollar 3 47. 77 55.7126 52.8985 52.4691 56. 5199 53. 3290 India.. Rupee. 48.66 40. 295038. 879026.2198 28. 7409 31.1103 31. 7835 36. 2642 36. 3267 J S a t m p ra a e i n t n s t s S . ett . le .. - Y S e i d n n . o . g ll a ar p . ore 4 5 9 6 . . 8 7 5 8 51.1840 50. 368048. 24854 50 7 . . 8 7 0 7 3 5 7 3 4 5 8 3 . . 4 5 9 8 8 4 4 5 4 51 1 . . 1 2 8 5 5 2 ' 3 4 5 1 6 . . 1 0 5 3 4 6 6 2 • 4 56 7 . . 1 2 1 7 6 0 3 5 1 Based on noon buying rates for cable transfers in New York as published daily by United States Treasury. 2 The belga (parity 13.90 cents) superseded the Belgian franc October 26, 1926, and was quoted at par during November and December. 3 Silver currency. Parity represents gold value of unit in 1913, computed by multiplying silver content of unit by New York average price of silver for 1913. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

208 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD No. 113.—EXCHANGE RATES ON PRINCIPAL FOREIGN COUNTRIES, BY MONTHS [In cents per unit of foreign currency !] England France Germany Italy Japan N l e a t n h d e s r- Sweden ! I Sw la it n z d er- Month Pound— Fram Reichs- Lira— Yen— Florin- Krona— I Franc— par= par = 19.30 mark— par=19.30 par=49.85 par=40.20 par=26.80par=19.30 486.65 par=23.82 1922 January 422. 4780 8.1636 4. 3744 47. 6244 36. 6772 24. 9488 19. 4156 February 436. 2000 8.7305 4.9095 47. 3727 37. 6082 26.1495 19. 5227 March 437. 5719 9.0033 5.1115 47. 3485 37. 8452 26.1563 19.4548 April 441. 3368 9. 2288 5. 3668 47. 3628 37. 9332 26. 0480 19. 4480 May... 444. 6119 9.1196 5. 2558 47. 3554 38. 6500 25. 7746 19. 2062 June 445.1862 8. 7646 4. 9619 47. 7504 38. 7069 25. 8092 19. 0388 July 444. 6368 8.2372 4. 5748 47. 7688 38. 7684 25.9128 19. 0952 August _. 446. 4678 7.9567 4. 5078 47. 7019 38. 8489 26. 3381 • 19.0396 September 443. 0696 7. 6592 4. 2676 48.0996 38. 7932 26. 4568 18. 7908 October 443. 8484 7. 3704 4.1720 48. 0732 38. 9624 26. 6488 18. 4208 November 447. 9921 6. 8583 4. 5063 48. 3729 39. 2729 26. 8442 18. 4358 December 460. 9800 7.2296 5. 0340 48. 8500 39. 8368 26. 9484 18. 9100 1923 January 465.4611 6. 6769 4. 8792 48. 7454 39. 5642 26. 8610 18. 7831 February 469. 0809 6.1459 4. 8177 48. 4359 39. 5273 26. 5959 18. 7977 March 469. 5693 6. 3237 4. 8550 48. 4559 39. 4893 26. 6000 18. 5896 April 465. 5468 6. 6668 4. 9596 48. 6936 39. 1788 26. 6444 18. 2424 May 462. 5677 6. 6365 4. 8392 49. 0785 39.1304 26. 6462 18. 0277 June 461. 4681 6. 3012 4. 5746 49. 0450 39. 2012 26. 5596 17. 9404 July 458. 3385 5. 8905 4. 3260 48. 7892 39.2296 26. 5316 17. 5536 August 456. 0338 5.6500 4. 3062 48. 8765 39.3446 26. 6281 18. 0538 September. _. 454. 2217 5. 8550 4. 4375 48. 6200 39. 3025 26. 5496 17. 8621 October 452. 3745 5. 9488 4. 5146 48. 8092 39.1338 26. 3996 17. 8735 November 438. 2152 5. 5167 4. 3575 48. 3742 38. 0150 26. 2867 17. 5458 December 436. 0148 5. 2496 4. 3372 47. 0104 38. 0392 26. 3332 17. 4524 1924 January 425.9092 4.6650 | 4.3400 44. 8965 37. 3496 26.1831 17. 3212 February 430.7709 4.4191 I 4. 3452 45. 4265 37. 4161 26.1826 17. 3683 March. 429. 0631 4.6812 ' 4. 2769 42. 9015 37. 0650 26. 2869 17. 2900 April 435.1281 6. 1573 ! 4. 4408 40. 9300 37.1931 26. 3804 17. 5996 May 436. 0808 5.7919 ! 4. 4396 40. 1865 37. 4058 26. 5000. 17. 7246 June 431. 9880 5.2528 I. 4. 3328 41. 0824 37. 4352 26. 5416 17. 6604 July 437. 0388 5. 1185 4. 3035 41. 3492 37. 9419 26. 5950 18.1946 August 449. 9458 5.4635 I. 4. 4446 41. 2608 38. 8035 26. 6142 18. 8219 September. 446. 0536 5.3016 I 4. 3820 40. 5972 38. 4508 26. 6028 18. 8820 October 448. 7004 5. 2292 4. 3504 38. 7942 39.1027 26. 6123 19.1827 November. 460. 9687 5. 2757 23. 7983 4. 3335 38. 5183 40. 0513 26. 8135 19. 2765 December.. 469. 5838 5. 3988 23. 8031 4.3019 38. 4400 40. 4162 26. 9531 19. 3781 1925 January 478.1673 5.3923 23. 8000 4.1669 38. 4546 40. 4069 26. 9458 19. 3369 February 477. 2418 5 2796 23. 8000 4.1082 39.0791 40.1700 26. 9441 19. 2550 March. 477. 6250 5.1807 23. 8000 4. 0719 40. 9667 39. 9212 26. 9496 19. 2646 April 479. 5308 5.1877 23. 8000 4.1030 41.7596 39. 9488 26.9381 19. 3323 May. 485. 4720 5.1632 23. 8000 4.0672 41. 9136 40.1848 26. 7532 19. 3464 June 486.0415 4. 7696 23. 8000 3. 8273 40. 8258 40.1354 26. 7635 19. 4019 July 485. 9604 4. 6981 23. 8000 3. 6677 41. 0781 40.1023 26. 8558 19. 4146 August 485. 6900 4. 6912 23.8000 3. 6573 40. 9877 40. 2419 26. 8715 19. 4019 September 484. 6464 4. 7124 23. 8000 4. 0640 40. 7488 40. 2084 26. 8244 19. 3068 October 484. 2800 4. 4312 23. 8031 3. 9915 40.9723 40. 2004 26. 7900 19. 2742 November... 484. 5861 3. 9622 23. 8061 4. 0048 42. 3252 40. 2265 26. 7517 19. 2713 December 484. 9838 3. 7358 23. 8069 4. 0312 43.1931 40.1869 26. 7858 19. 2977 1926 I January 485. 7860 3. 7708 23. 8012 4. 0376 44.1696 40.1812 26. 7776 19.3112 February 486. 3363 3, 6782 23. 8068 4.0264 45. 4045 40. 0795 26. 7782 19. 2623 March 486. 0825 3. 5804 23. 8030 4. 0156 45. 3915 40. 0689 26. 8125 19. 2518 April 486. 2185 3.3885 23. 8019 4. 0200 46. 6442 40.1258 26. 7904 19. 3004 May 486.1544 3.1508 23.8028 3. 8728 46. 9472 40.1980 26. 7612 19. 3464 June 486. 6096 2. 9415 23. 8050 3. 6646 46. 8454 40.1750 26. 8004 19. 3604 July.... 486. 3450 2. 4658 23. 8035 3. 3504 47.0685 40.1773 26. 7954 19. 3604 August 485. 8608 2. 8327 23. 8096 3. 2950 47. 8031 40.1123 26. 7654 19. 3235 September 485.4168 2. 8548 23. 8120 3. 6688 48. 4000 40. 0732 26. 7476 19. 3216 October 485. 0328 2. 9404 23. 8028 4.1196 48. 6612 40.0036 26. 7288 19. 3084 November 484. 8758 3.4167 23. 7488 4. 2142 49. 0650 39. 9850 26. 6904 19. 2846 December 485.1250 3. 9492 23. 7958 4. 4350 48. 9373 39. 9927 26.7196 19. 3192 i Monthly averages of noon buying rates for cable transfers in New York as published daily by United States Treasury. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL BEPORT OF THE FEDERAL RESERVE BOARD 209 CONDITION OF CENTRAL BANKS IN FOREIGN COUNTRIES No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS BANK OF ENGLAND [In millions of pounds sterling] Issue depart- Binking department ment Currency Last report date notes (Wednesday) in— bu G a l o n l l d i d on i N s o s t u e e s d s G c a i o o l n v i l d e n d r B no a t n e k s G s o m e v t c e i e u n e r r t s i n - - s O e t t c i h u e r e s i r - P d u e i b p t l o s s i - c d O e t i p h t o s e s r - c c e a a r n t t i e d f s i- 1922 January 127 145 2 23 45 84 15 121 103 305 February 127 145 2 24 49 82 28 110 102 298 March _ 127 145 2 23 46 98 30 121 103 300 April. 127 146 2 24 48 78 15 120 102 303 May__ 127 146 2 23 48 75 29 101 103 298 June.. 127 146 2 23 49 76 16 115 103 295 July 126 144 2 19 47 72 14 108 104 296 August. 126 144 2 20 44 76 26 98 103 293 September... 126 144 2 22 44 71 17 104 101 289 October 126 144 2 22 48 71 15 110 101 287 November. _. 126 144 2 121 48 68 17 104 102 288 December. _. 126 144 2 19 52 78 13 120 104 301 1923 January 126 144 2 22 49 66 15 106 101 February 126 145 2 21 47 79 21 111 102 279 March 126 145 2 21 48 80 36 97 102 286 April. 126 145 2 23 48 68 14 109 100 284 May 126 145 2 21 43 71 21 98 102 287 June -. 126 146 2 20 43 81 14 114 103 287 July 126 146 2 20 46 71 10 109 103 289 August.----- 126 146 2 21 46 69 17 104 102 285 September... 126 146 2 22 42 71 14 105 102 283 October 126 146 2 21 42 72 11 108 102 280 November. _ . 126 146 2 21 43 73 21 100 103 282 December. _. 126 146 2 18 50 81 16 117 106 299 1924 January 126 146 2 19 48 70 16 105 104 280 February 126 146 2 20 51 68 13 110 103 277 March 126 146 2 21 48 75 27 101 103 282 April..- 126 146 2 20 43 74 11 111 103 290 May 126 146 2 20 42 73 15 105 103 286 June 126 146 2 20 48 81 20 113 104 290 July... 126 146 2 19 46 75 12 112 105 296 August 126 146 2 21 41 77 17 105 103 289 September... 127 146 2 22 42 77 14 111 101 286 October 127 146 2 23 42 76 14 111 101 285 November.. . 127 146 2 23 41 82 19 112 101 285 December.. _ 127 146 2 18 69 104 9 166 101 296 1925 January 127 146 2 22 50 74 23 107 281 February 127 147 2 22 42 74 16 106 281 March... 127 147 2 22 39 77 15 106 284 April. 154 174 2 25 37 76 17 105 290 May 155 175 2 26 37 75 16 107 292 June 155 175 2 30 39 79 14 118 292 July.. 162 182 2 37 34 69 21 103 301 August 161 181 2 36 35 70 22 104 295 September... 159 178 2 34 37 76 27 102 293 October 148 168 2 25 30 74 11 103 87 292 November... 145 165 2 23 42 77 14 111 290 December. _. 143 163 2 17 64 103 8 161 297 1926 January 143 163 1 21 46 74 23 101 February 143 163 1 22 38 79 16 106 284 March 145 165 1 22 37 87 35 94 295 April 145 165 1 24 39 68 19 96 294 May__ 148 168 1 27 41 72 20 103 300 June. .- 149 169 1 27 52 103 10 155 294 July.-.----- 151 171 1 29 35 69 10 105 294 August- 153 173 1 33 39 73 26 102 291 September... 154 174 2 33 34 72 21 101 October 151 171 2 32 37 70 18 105 November.. . 151 171 2 33 33 74 24 101 285 December 150 170 1 29 34 97 12 131 296 Digitized for F1 RNAotSesE iRss ued, less amounts held in banking department and in currency note account. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

210 ANNUAL EXPORT OF THE FEDERAL RESERVE BOARD No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued BANK OF FRANCE [In millions of francs] Advances Last report date (Thursday) in— res G er o v ld e 1 r S es il e v r e v r e di L s a c o n o a d u n n s ts G t m o o v e t e n h r t e n- ci N t r i c o o u n t l e a- de T p o o t s a i l ts 1922 January 3,576 280 4,776 23,000 36,433 2,392 February._ 3,577 281 4,976 22,500 36,151 2,429 March 3,578 282 5,225 21,500 35, 528 2,236 April 3,579 283 4,875 22,100 35,787 2,412 May 3,579 284 4,543 23,100 35,982 2,303 June 3,580 285 4,519 23,300 36,039 2,448 July 3, 582 285 4,270 23,000 36,050 2,432 August 3,583 286 4,281 23,900 36,385 2,170 September. 3,584 287 4,190 24,000 36,603 2,199 October 3,635 288 4,275 23,600 36, 694 2,170 November.. 3,636 289 4,977 22,900 36,114 2,184 December.. 3,670 289 4,483 23,600 36,359 2,309 1923 January 3,671 290 4,730 23,100 36, 780 2,208 February._ 3,671 291 4,688 23,200 37,055 2,279 March 3,672 292 4,771 23,100 37,188 2,066 April 3,672 292 4,791 22,500 36, 548 2,116 May 3,673 292 4,528 23,000 36, 741 2,200 June 3,673 293 4,570 23,100 36, 689 2,162 July 3,674 294 4,599 23,000 36,929 2,072 August 3,674 294 4,693 23,400 37,364 1,929 September. 3,674 295 4,640 23,700 37,626 1,992" October 3,675 296 5,287 23,400 37,670 2,033 November. 3,675 296 6,008 22,800 37, 329 2,204 December.. 3,676 297 6,060 23,300 37, 905 2,384 1924 January... 3,677 297 6,605 22,800 38, 834 2, 346 February. 3,677 298 6,290 23,100 39,345 2,331 March 3,677 298 7,862 22, 700 39,950 3,242 April. 3, 678 299 7,168 22, 700 39, 824 2,437 May 3,679 299 6,996 22,700 39,556 2, 225 June 3,679 300 6,338 23,000 39, 665 2,151 July 3,679 300 7,787 23,000 40, 325 2,158 August 3,679 301 7,110 22,800 40, 034 2,000 September. 3,680 301 7,598 23,000 40,339 1.742 October 3,680 303 8,142 22, 700 40, 529 1,968 November. 3,680 304 7,524 22,600 40,447 1,994 December.. 3,681 306 8,171 22, 600 40, 604 1,973- 1925 January 3,681 305 8,856 21, 200 40, 516 2, 012 February._ 3,681 306 8,075 21,900 40, 792 2,028- March 3,682 309 8,571 21,800 40, 892 2,052 April 3,682 317 8,979 23,250 43,050 2,105 May 3,682 314 7,584 23,850 42, 703 2,17& June 3,682 313 6,887 25, 650 43,000 2, 446 July 3,683 312 6,545 27, 250 44,496 2,511 August 3,683 311 6,356 27, 750 44, 702 2,429 September. 3,683 310 5,388 28,900 45, 557 2,176 October 3,683 310 6,183 29,950 46, 679 2,517 November.. 3,683 315 6,150 31,950 48,085 3, 022 December.. 3,684 321 6,706 35,950 51,085 3, 335 1926 January 3,684 325 5,889 34, 200 50, 618 3,188 February._ 3,684 329 5,835 34, 500 50,991 3,013 March 3,684 331 5, 760 35,000 51,492 2,834 April 3,684 334 6,603 35,150 52,208 2,827 May 3,684 335 6,856 35,900 52, 735 3,227 June 3,684 337 7,054 36,600 53,073 2,926 July 3,684 338 8,998 37,450 56, 022 4,343 August 3,684 339 7,939 36,450 55,147 3,329 September. 3,684 339 8,030 36,650 55, 010 2,922 October 3,684 339 7,494 35,750 54, 578 3,981 November. 3,684 340 6,514 35, 700 53, 263 4,385 December. . 3,684 341 6,520 36,000 52,907 5,908 i Not including gold held abroad. Since September, 1926, the bank statement has carried an item "gold, silver, and foreign exchange," which amounted in October to 1,066,000,000 francs; in November to 1,450,- 000,000 francs; in December to 1,547,000,000 francs. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF CENTRAL BANKS IN FOREIGN COUNTRIES 211 No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued GERMAN REICHSBANK [In millions of reichsmarks] Last day in— h h G e o l o d m l d a e t a G b h r e o o l l d a d d i e R n x e c f s o h e r a r e n v ig g es n e e B x c c h il h e l a s c n k o g s f e l M a a n s i e s s c e o e t u s l s - Deposits m R ci a e t r r i c i o k c u n s h l a s i - - n m R ci a e t r r i n c o k u t n s e l a n i - n - 1924 October 454 240 231 2,340 952 1,781 1,980 November 455 240 232 2,290 1,655 704 1,863 1,980 December 552 207 253 2,064 1,654 821 1,941 1,980 1925 January 636 199 278 1,771 1,507 747 1,901 1,967 February 700 207 302 1,737 1,684 918 2,106 1,967 March 798 205 334 1,578 1,217 743 2,315 1,911 April 896 118 338 1,496 1,123 706 2,452 1,896 May 959 56 339 1,648 964 581 2,609 1,864 June 970 92 354 1,691 639 564 2,474 1, 856 July.._. 981 123 368 1,789 502 700 2,530 1,836 August 1,045 93 357 1,765 471 701 2,595 1,834 September 1,076 99 319 1,717 460 620 2,649 1,833 October 1,080 126 348 1,630 682 618 2,803 1,816 November 1,111 97 403 1,650 578 587 2,771 1,611 December 1,111 97 403 1,915 590 697 2, 960 1,609 1926 January 1,112 143 418 1,464 579 2,649 1,589 February 1,192 190 461 1,346 783 586 2,822 1,587 March. 1,228 263 481 1,216 923 625 3,160 1,573 April 1,231 260 391 1,214 873 607 3,086 1,556 May.. 1,232 260 388 1,244 517 579 2,878 1,529 June 1,232 260 325 1,288 522 527 2,971 1,520 July. 1,232 260 495 1,199 646 538 3,107 1,501 August _. 1,295 198 498 1,252 688 542 3,225 1, 499 September 1,396 202 522 1,384 556 i 595 3,251 1,497 October 1, 536 180 413 1,415 631 533 3,326 1,497 November 1,578 177 418 1,286 581 528 3,374 1,175 December 1,661 170 519 1,829 473 648 3, 736 1,172 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF CENTRAL BANKS IN FOREIGN COUNTRIES 213 No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued BANK OF JAPAN [In millions of yen] Gold at DomesticAdvances Last report date (Saturday) in— h a o n m d e a a d n v d a n d c is e - s for o e n ign vj m ro e v n er t n- i N ss o u t e e d s de T p o o ta si l ts abroad counts bills bonds 1922 January 1,244 260 55 205 1,371 984 February 1,126 154 25 227 1,167 1,008 March __ 1,115 170 27 239 1,143 1,018 April 1,160 341 62 253 1,227 849 May 1,072 184 27 279 1,107 805 June -. 1,199 184 71 311 1,230 725 July 1,156 185 78 296 1,206 752 August 1,128 215 86 292 1,169 812 September- 1,114 205 116 304 1,237 764 October 1,069 212 138 308 1,205 835 November 1,068 159 122 308 1,114 848 December.. 1,064 461 206 318 1,591 752 1923 January 1,063 203 158 292 1,238 772 February-- 1,061 167 138 309 1,179 786 March.._ 1,058 325 110 301 1,239 857 April___ 1,056 336 105 313 1,211 872 May.._ 1,053 261 78 312 1,107 904 June _ .-- 1,053 445 53 327 1,371 884 July 1,053 359 45 297 1,260 850 August 1,053 380 40 306 1,228 913 September 1,060 654 77 321 1,460 L,044 October .-. 1,062 596 79 248 1,386 L,008 November __ 1,061 567 104 234 1,306 L,031 December 1,058 803 208 243 1,698 L,020 1924 January _ 1,056 620 179 229 1,401 965 February.. _ 1,055 529 169 265 1,240 L,053 March _ 1,058 615 203 272 1,319 L, 169 April 1,059 614 128 263 1,237 1,182 May. 1,061 628 84 286 1,287 ,127 June 1,060 611 85 311 1,364 L,059 July 1,059 469 58 247 1,197 996 August -_ 1,064 564 103 235 1,301 L,043 September 1,063 472 55 230 1,239 L, 011 October 1,062 477 60 223 1,261 L.011 November 1,061 590 118 229 1,364 1,059 December. 1,059 674 184 239 1,561 903 1925 January _ 1,059 520 136 240 1,391 864 February.- 1,059 507 82 291 1,297 932 March 1,059 459 51 289 1,219 929 April 1,059 268 47 284 1,168 761 May 1,059 206 41 271 1,209 743 June 1,059 382 60 254 1,349 723 July.__ 1,059 329 42 251 1,269 684 August 1,057 475 52 263 1,372 769 September 1,057 288 75 262 1,227 750 October 1,057 398 99 261 1,355 714 November 1,057 408 125 274 1,301 815 December 1,057 456 207 262 1,500 736 1926 January _ 1,057 374 172 259 1,388 713 February-_ 1,057 330 147 290 1,293 769 March __ 1,057 299 99 287 1,181 796 April 1,058 273 63 286 1,121 760 May 1,058 344 41 300 1,179 775 June 1,058 369 40 294 1,280 693 July._ 1,058 326 42 286 1,265 654 August 1,058 362 46 286 1,233 734 September 1,058 224 44 289 1,125 717 October 1,058 366 48 280 1,288 647 November.-- 1,058 351 51 277 1,212 708 December _.. 1,058 420 59 277 1,377 648 38494—27- -15 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

212 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued BANK OF ITALY » [In millions of lire] Last day in— re G se o r l v d e B a c b a r a r l e o a n d n a d i c d ts e 2 s di L s a c o n o a d u n n s ts A G t d m o o v v e a t e n n h r c t e n e - s co c ti m i N o rc n m o u t f e l e o a rc r - et t h c i i e o N r n c S o u t t f l e a o a t r - e d T ep o o t s a i l ts 1922 January 1,109 833 10,158 8,570 10,183 8,570 2,848 February... 1,100 794 10,029 9,631 8,626 2,562 March 1,118 778 9,833 8,523 9,589 8,523 2,687 April 1,122 783 10,113 8,350 9,360 8,350 2,473 May 1,104 779 9,323 8,061 9,259 8,061 2,572 June 1,106 790 9,505 8.049 9,615 8,049 2,740 July 1,125 804 9.051 8,050 9.947 8,050 2,524 August 1,125 833 9,087 8,050 9,695 8,050 2,779 September. 1,125 833 8,804 8,066 9,924 8,066 2,661 October 1,136 830 9,027 8,075 9,782 8,075 2,638 November.. 1,141 827 8,625 8,074 9,892 8,074 2,634 December.. 1,126 830 9,284 8,076 9,935 8,076 2,602 1923 January 1,126 8,497 8,057 9,389 8,057 2,610 February—. 1,127 8,513 8,036 9,117 8,036 2,675 March 1,129 769 8,419 8,031 9,004 8,031 2,488 April 1,129 769 8,712 8,024 8,661 8,024 2,461 May 1,130 765 8,791 7,763 8,525 7,763 2,350 June 1,130 758 9,800 7,764 9,571 7,764 2.691 July... 1.133 758 9,663 7,763 9,619 7,763 2,511 August 1,133 695 9,921 7,761 9,274 7,761 2, 316 September- 1,134 636 10,288 7,758 9,387 7,758 2,520 October 1,134 639 10, 557 7,756 9,482 7,756 2,285 November.. 1,130 634 10. 749 7,756 9,292 7,756 2,544 December.. 1,118 638 8,078 7,754 9.492 7,754 2,581 1924 January 1,120 617 7,506 7,750 9,019 7,750 2,573 February... 1,122 607 | 7,433 7,747 8,852 7,747 2,517 March 1,126 606 S 7,204 7,607 9,212 7,607 2,763 April 1,126 602 6,868 7,532 9,226 7,532 2,804 May 1,127 607 6,548 7,484 9,063 7,484 3,002 June 1,128 589 | 7,205 7,476 10,049 7,476 2.975 July... 1,130 589 ! 6,819 7,449 10,064 7,449 2,915 August 1,131 587 ; 6,825 7,398 9,955 7.398 2, 973 September- 1,132 586 i 6,885 7,348 10, 413 7,348 2,842 October 1,132 586 ! 7,545 7,297 10. 774 7,297 2,810 November.. 1.132 587 I 7,615 7,247 10, 646 7,247 2,767 December.. 1,132 579 ! 8,267 7,242 10, 873 7,242 3,194 1925 January 1,131 580 7,579 7,146 10, 500 7,146 2,806 February... 1,132 555 7,872 7,145 10,326 7,145 2,817 March 1,132 550 8,195 7,073 10,621 7,073 2,637 April 1,132 544 8,167 7,073 10,572 7,073 2,671 May 1,132 528 7,791 7,073 10,672 7,072 2,495 June 1,132 505 9,607 7,068 11,949 7,068 2,811 July. 1,132 562 9,709 7,068 12, 208 7,068 2,685 August 1,132 593 10, 372 7,068 12, 363 7,068 2,538 September. 1,133 581 10,417 7,067 12,407 7,067 2,452 October 1,133 597 10, 534 7,067 12,412 7,087 2,489 November. 1,134 643 9,624 7,067 12,134 7,087 2,366 December.. 1,134 611 10,436 7,063 12,287 7,063 2,466 1926 January 1,134 593 I 9,581 7,065 11, 585 7,065 2,302 February... 1,134 575 ! 10,159 7,066 11,131 7,066 2,278 March. 1,134 550 10,044 7,066 11, 229 7,066 2,334 April 1,135 598 ! 10,182 6,857 11,041 6,857 2,288 May 1,135 581 | 10, 228 6,857 10,867 6,857 2,481 June 1,136 j 570 ! 10, 762 6,729 11,613 6,730 2,532 July 1,135 541 i 9,017 6,729 11,591 6.729 2,426 August 1,136 542 8,697 6,729 11,252 6,729 2,200 September- 1,137 1,008 8,780 4,229 14,103 4,229 2,535 October 1,140 1.029 8,114 4,229 13,936 4,229 2,788 November.. 1,141 1,052 7,616 4,229 13, 977 4,229 2,939 December.. 1,144 1,065 8,040 4,229 14,111 4,229 2,323 1 Figures previous to July, 1926, are for three banks of issue. 2 Includes current accounts abroad, foreign commercial bills,and foreign bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

214 ANNUAL EEPOKT OF THE FEDEKAL KESERVE BOAKD No. 114i—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—-Continued NETHERLANDS BANK [In millions of florins] Last report date (Monday) in— Gold Fo b r i e ll i s gn a c L n o d o u a n d n t i s s s- N cu o l t a e t i c o i n r- Deposits January 360 1,017 February... 606 348 987 March 606 331 960 April 606 313 985 May 606 300 993 June _- 606 277 959 July 606 302 988 August 606 282 960 September.. 594 288 960 October 582 334 994 November.. 582 308 964 December.. 582 344 974 1923 January 582 300 947 February... 582 265 940 March 582 114 250 932 April 582 85 336 989 May 582 60 291 928 June 582 52 312 911 July 582 40 290 947 August 582 53 274 932 September.. 582 52 298 967 October 582 69 294 1,015 November.. 582 57 330 1,004 December.. 582 27 432 1,066 1924 January 582 25 385 1,008 February... 582 25 372 984 March 569 23 412 1,018 April 544 30 400 1,001 May 531 94 317 969 June 532 94 305 983 July... 532 95 337 964 August 532 67 307 946 September.. 529 40 330 972 October 489 54 303 957 November.. 480 48 311 933 December.. 505 112 292 935 January 505 125 272 893 February... 504 128 252 881 March 504 132 255 April 479 147 248 May 479 169 249 875 June 455 191 250 889 July 419 229 212 876 August 414 243 206 863 September.. 418 243 211 879 October 418 244 216 881 November.. 458 245 208 906 December.. 443 247 204 875 1926 January 438 248 220 833 February... 432 203 203 818 March 429 177 209 821 April. 428 184 215 817 May 432 195 205 844 June 427 199 196 809 July 426 224 195 814 August 420 216 179 838 September.. 419 218 185 824 October 419 194 193 834 November.. 418 182 200 849 December.. 414 187 187 817 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF CENTRAL BANKS IN FOREIGN COUNTRIES 215 No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued BANK OF SWEDEN [In millions of kroner] Loans Note Last day in— Gold F as o s r e e t i s g n i dis a c n o d unts l c a i t r i c o u n - Deposits 1922 January _ _ 275 553 563 337 February 274 574 579 346 March 274 580 626 312 April 274 526 582 301 May _ 274 503 567 293 June 274 479 585 247 July 274 439 551 243 August 274 417 559 213 September 274 430 605 180 October _ _ 274 391 569 178 November 274 397 575 191 December 274 525 584 389 1923 January - - 274 384 520 315 February 274 236 358 538 266 March 274 224 412 587 260 April - -_ _____ 273 196 387 557 240 May 273 182 365 539 224 June 273 185 366 583 183 July -. _ _ 273 173 296 543 149 August 273 174 293 561 128 September __ . _ -_ 273 166 328 600 117 October 272 140 349 520 154 November 272 126 379 568 162 December _ 272 146 529 576 305 1924 January 272 115 415 509 232 February _ _ ______ 272 100 416 523 198 March 271 101 457 557 201 April _-_ __ __- 265 91 469 522 221 May 248 71 524 523 255 June -- -_ -_ 247 79 523 557 224 July 249 1C0 407 515 169 August _ __ __ _ 251 102 419 528 167 September 247 99 425 564 129 October _____ _.__ 240 106 386 536 123 November 239 97 406 537 134 December _ _- 237 138 542 537 304 1925 January _- 234 151 460 483 292 February 234 149 448 493 270 March 234 137 459 521 238 April 1 233 124 457 493 255 May 234 136 444 500 244 June 235 139 454 523 231 July 234 161 350 494 180 August 233 185 310 511 145 September 232 204 299 551 108 October __ __ _ 231 201 265 523 103 November - __ _ 230 196 269 522 102 December 230 203 449 530 277 1926 January 230 202 323 475 208 February ___ ___ __ _ 230 183 309 489 163 March 230 180 331 527 141 April _ 229 174 307 498 144 May 229 166 313 489 149 June _ -__ _ __ __ -_ ___ ___ 228 162 345 528 134 July 228 161 263 494 89 August 228 172 252 502 79 September 226 177 287 549 70 October _ __ _ 226 161 264 516 65 November 225 169 268 512 80 224 209 375 525 206 i Figures for foreign assets not available separately before February, 1923. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

216 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD No. 114.—CENTRAL BANKS IN FOREIGN COUNTRIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued NATIONAL BANK OF SWITZERLAND [In millions of francs] Funds on Loans Note Last day in— Gold demand and dis- circula- Deposits abroad counts tion 1922 January 550 11 416 890 194 February 544 16 333 838 161 March 546 5 356 831 175 April 543 8 375 802 243 May__ 544 14 373 782 269 June__ 531 17 309 789 199 July 519 41 317 769 231 August 510 45 366 771 272 September 505 29 312 811 174 October 520 34 353 904 143 November 532 36 380 988 79 December 535 8 487 976 165 1923 January 530 6 446 879 213 February.. 535 16 492 884 259 March 533 14 521 920 244 April 534 8 487 915 228 May 536 4 326 882 117 June 524 27 316 894 115 July 526 7 281 880 61 August 527 34 280 886 76 September 527 20 368 930 92 October. _ 527 16 366 927 85 November 537 11 363 920 89 December 537 10 434 982 105 1924 January 537 17 310 884 74 February 536 16 282 878 50 March 536 26 282 901 51 April 536 18 344 886 112 May 530 5 328 877 89 June 513 14 320 877 63 July 506 ao 325 866 93 August 505 24 340 869 87 September 505 25 361 891 91 October 505 42 361 882 117 November 505 38 351 859 123 December 506 47 381 914 120 1925 January 506 47 356 825 164 February 498 18 309 819 80 March 481 16 321 836 70 April 480 16 313 830 76 May 482 20 309 822 80 June 498 41 312 834 111 July... .— 508 17 321 824 111 August 511 27 333 819 134 September 491 24 332 845 87 October 465 30 338 841 77 November 456 26 347 819 96 December 467 26 411 876 127 1926 January 447 18 330 776 103 February. 427 49 314 775 94 March. _ 418 33 339 808 70 April 418 19 351 797 80 May 419 15 346 781 85 June. 419 14 365 800 83 July ..-- 420 15 363 803 81 August 424 24 337 803 59 September-_ _ 437 19 391 834 86 October 442 21 370 824 74 November 443 17 376 807 98 December. _ 472 35 425 874 139 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD 217 DISCOUNT RATES OF CENTRAL BANKS No. 115.—CHANGES IN CENTRAL BANK DISCOUNT RATES, 1922-1926 [Per cent] Central bank of— England France Germany Italy Japan N l e a t n h d e s r- Sweden Sw la it n z d er- In effect Jan. 1,1922.. 5 5 6 8.03 &A 4 Changes effective— 1922—Feb. 16 Mar. 2 VA 10 5 11.... 5 Apr. 13... 4 June 15 3M July 1 VA 11.. 13 3 18 4 28 1 .... 6 Aug. 17 1 3 28 i 7 Sept. 21 1 8 Nov. 13.. ! 10 1923—Jan. 18 1 12 Apr. 23.. 18 July 5.. . 4 14 _ __| 4 Aug. 2 i 30 Sept. 15 90 Oct. 8 108 Nov. 9 Dec. 13 VA 23._ I UO 1924—Jan. 10 17...J 6 24 f 5 Dec. 11 7 13... 4^ 1925—Jan. 16 Feb. 26 9 Mar. 5... 5 9 6 Apr. 15 7.30 June 2 &A 18 July 9... 6 24 5 Aug. 6... &A Oct. 1 ._ 4 2... 3K 9. 4H 22 Dec. 3 5 1926—Jan. 12 8 Mar. 27 7 June 7 1 6K July 6 1 6 A O u ct g . . 4 2 :::::::::: iy2 6.57 Dec. 16 &A In effect Dec. 31,1926. 5 VA 6 7 6.57 3M 4K VA 1 Stable value credits. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

218 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD MONEY RATES IN FOREIGN COUNTRIES No. 116.—OPEN-MARKET MONEY RATES IN FOREIGN COUNTRIES l [Per cent] Nether- ( E L n o g n l d a o n n d ) F (P r a a r n i c s e ) G (B er e m rli a n n ) y (M It i a la ly n) (T Ja o p k a y n o) (A l d a m a n m s d t s ) er- S (Z w l u a it n r z i d c e h r- ) Month Bankers' a m a n c o c c e n e s t p , h t 3 - s d P is r r i c a v o t a e u t n e t d P is r r c i a v o t a e u t n e t d P i r s r i c a v o t a e u t n e t Disc b o i u ll n s ted d P is r r i c a v o t a e u t n e t d P i r s r i c a v o t a e u t n e t 1924 January 3.29 8.03-10.22 4.88 3.58 February 3.54 8. 40-10. 22 5.19 3.57 March 3.20 8. 40-10. 22 5.13 3.69 April 3 07 8. 40-10. 40 5.06 3.73 May . 3.05 8. 40-10. 40 4.19 3 39 June _ . . . .. 3.03 8. 03-10. 22 3.56 3.19 July_ _ 3.59 7. 67-10. 22 3 13 3 56 August 3.79 7. 67- 9. 86 2.88 3.70 September 3.74 7. 67- 9. 86 3.25 3 69 October 3 72 7. 67- 9. 86 4.63 3.59 November 3.72 7. 67- 9. 86 4 44 3 32 December 3.73 i 8. 03-10. 04 4.00 3.01 1925 January, . _ . . . _ 3.80 6.40 8.38 5.37 7. 30- 9. 86 2.63 2.69 February 3.83 6.31 8.00 5.47 6. 94- 9.13 2.14 2.25 March... . _ _ . 4.48 6.31 8.00 6.00 7. 30- 9.13 2.34 2.44 April 4.30 6.37 8.00 6.50 6. 94- 9.13 3.23 2.50 May. . _ 4.59 6.30 8.00 6.50 6.21- 8. 76 3.45 2.46 June 4.44 6.00 7.83 6.94 6. 21- 8. 76 3 08 2 29 July 4.35 5.47 7.88 7.50 6. 21 8. 76 2.72 2.16 August 3 94 5.22 7 78 7.50 6. 57- 8. 76 3 72 2 02 September 3.68 5.37 7.27 8.50 6. 75- 8. 76 3.63 2.00 October 3.57 4.92 7.16 8.50 6. 75- 8. 76 3.47 2.00 November 3.92 4.78 6. 78 8.50 6. 94- 9. 13 3.34 2.22 4.67 4.80 6. 75 8.50 7. 12- 9.13 3.43 2.29 1926 January 4.76 4.57 6.28 8.18 6. 75- 9.13 2.95 2.44 February 4.31 4.27 5.46 8.00 6. 57- 8. 76 2.19 2.22 March.. . 4.37 4.25 5.00 8.00 6. 57- 8. 40 2.67 2.18 April 4.33 4.25 4.88 8.00 6. 75- 8. 76 2.90 2.30 May 4.37 5.15 4.69 8.00 6. 75- 8. 76 2.95 2.38 June.__ . 4.27 5.73 4.53 8.17 7.12- 8. 76 2.83 2.38 July 4.26 6.00 4.54 8.50 6. 94- 8. 76 2.74 2.37 August 4.45 7.00 4.61 8.50 6. 75- 8.40 2.63 2.34 September 4.54 6.98 4.88 8.50 6. 39- 8.40 2.78 2.52 October, 4.69 7.25 4.82 8.96 6. 21- 8.40 2.83 2.80 November 4.57 6.69 4.63 9.25 6. 39- 8. 40 3.21 2.96 December 4.53 5.77 4.72 9.25 6. 75- 8. 76 3.39 3.35 i|All figures are monthly averages. For sources used and detailed explanation of methods of quotation, see the Federal Reserve Bulletin far November, 1926. See also current numbers of the Bulletin. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOLD IMPORTS AND EXPORTS OF FOREIGN COUNTRIES No. 117.—GOLD IMPORTS AND EXPORTS OF FOREIGN COUNTRIES Q Month o ( f i n r G e t i e c h r h o m s u m a s n a a y n rk d s s ) o ( G f in r p e o a t l h u t i n o n B g u d ) r s s i a t s n a te i d n r s - (in o f t I h r n u o d p u i e a s e a s n ) ds ( N in o e f t t h h f e l o o r u r l i s a n a n s n d ) d s s Germany Grea I t n B t r h i o ta u i s n ands of do I l n la d r i s a Netherlands § M g Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports o s 1925 January... 82,857 2,476 2,266 4,799 79,054 605 6,586 5,679 19, 737 590 11, 027 23, 354 28,459 218 2,648 2,283 February 46,051 2,775 4,414 3,823 123,375 487 9,047 6,365 10,969 661 21, 481 18, C05 44,415 175 3,637 2.559 March 62, 602 2,643 1,862 3,015 150,127 248 72 629 14,912 630 9, 061 14, 672 54, 046 89 29 '253 April.. 68, 087 2,586 1,031 1,992 13, 708 525 213 12, 560 16, 218 616 5,017 9,694 4,935 189 86 5,049 May 78, 755 2,764 2,650 2,634 31, 708 109 12 12, 584 18, 759 12, 896 12,818 11,415 39 5 5,059 fed J Ju u n l e y..- --- 2 54 2 , . 1 2 9 7 7 3 2 2 , ,8 8 2 2 4 1 8 5 , , 9 62 3 0 2 3 1 , ,6 2 1 7 6 1 2 2 6 3 , , 0 6 3 9 5 1 4 1 0 0 7 2 2 3 9 0 6 2 36 4 , , 1 3 3 9 1 5 12 5 , , 2 9 8 2 7 8 6 6 7 7 3 2 2 4 7 3 , , 4 3 6 5 8 0 1 7 5 , , 8 9 6 1 4 8 8 9 , , 5 3 2 7 9 3 1 3 4 7 7 11 1 9 2 1 9 4 , , 7 6 0 3 1 1 S August— 121, 644 2,463 2,803 2,701 27,472 221 2,560 5,081 28, 976 587 13, 641 13,144 80 1,029 2,043 September 30,441 3,760 834 2,738 39,128 330 2,315 346 7,251 4,059 13, 324 14,086 119 931 139 Ul October 37, 770 4,518 5,412 10,175 44, 444 647 12,170 ],818 8,997 1,076 26, 337 49, 517 16, 000 233 4.892 731 November 33,542 4,253 3,506 8,542 32,017 698 22,895 18 7,990 1,013 17, 062 41, 570 11, 526 251 9,204 7 O December 3,050 3,410 2,179 4,368 22, 234 280 23, 796 102 727 812 10, 604 21, 257 8,004 101 9, 566 41 Total 641,269 I 37,293 41, 509 49, 675 612,993 I 4,659 79,991 | 105,710 152, 750 8,883 202, 004 241, 739 220,677 | 1,67732,157 42,495 1926 January 23,163 3,454 4,525 2,448 24,288 346 16,455 86 5,517 823 22, 021 11.913 8,744 125 6,615 35 February 58, 902 3,108 3,454 1, 564' 19, 618 387 1,202 14, 030 740 16,809 7, 611 7, 062 156 483 March_._ 40,138 3,223 1,290 2,620 47, 966 87 1,539 50 9,561 768 6,278 12, 750 17, 264 619 20 April 5,847 2,537 1,477 717 19, 082 89 216 70 1,393 604 7,188 3,489 6,870 87 28 18, 687 6,852 12, 343 270 200 O May. 3,517 2.909 3,840 1,408 34,287 73 672 497 o June. 2,398 2,649 3,309 1,003 | 20,295 181 2,512 126 631 16,103 4,881 7,306 1,010 51 July 2,626 2,608 4,009 1,276 11,410 90 822 5,009 621 19,510 6,210 4,108 330 2,014 tzj August 44, 632 2,662 3,877 1,841 12,385 152 338 149 10,631 634 18, 867 8,959 4,459 136 eo H September 99,108 2,946 2,494 1,031 13,469 29 1,990 1,632 23, 0€ 8 702 12,137 5,017 4,849 £00 656 i October 152,572 3,649 3,476 4,369 11,179 56 1,443 372 36, 343 16,916 21, 262 4,024 580 150 November 69,110 3,788 3,814 5,053 9,660 33 1,154 433 16, 462 902 18, 561 24, 590 3,478 464 174 December 77,277 3,603 2,986 3,824 10,046 243 269 6,500 18,407 858 14, 531 18, 609 3,617 108 2,613 Total 579, 290 36,609 38,551 27,153 233,675 1,381 27, 799 16,128 137, 987 8,720 187, 608 132,140 84,123 11,174 6,483 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOLD HOLDINGS OF PRINCIPAL COUNTRIES 8 No. 118.—GOLD HOLDINGS OF CENTRAL BANKS AND GOVERNMENTS, 1913-1926 [In thousands of dollars, converted at par of exchange. Figures for end of calendar year.] 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 U. S. Treasury and Federal reserve banks i 1,290,420 1,184,369 1,699,883 12,185,139 2,067,878 2,169,778 1,941,321 1,933,809 2,562,447 3, 504,283 3,831,881 4,089,201 3,984,659 4,079,531 European countries (central banks): England s 170,245 428, 221 389,205 402,970 422, 594 523, 632 583, 211 762,912 763, 719 751, 597 754,400 757,033 703,482 735,421 France 678,856 802, 591 967,950 652,885 639, 682 664, 017 694, 847 689, 517 690,141 708, 403 709, 479 710,394 710, 968 711,106 Germany 278,687 498, 508 581,954 599,873 572, 768 538,861 259,519 260,028 237,102 227,436 111,247 180,939 287, 763 436,235 Italy 288,103 299, 759 293,453 255, 772 238,931 243, 566 203,441 204,362 210, 739 217, 284 215, 699 218, 382 218, 825 220, 732 Austria.- 1,313 1,560 2,087 7,388 Austria-Hungary 251,421 213, 757 138, 750 58, 759 53, 717 53,074 45,011 3 11 3 16 39 Belgium 59,131 56, 619 50,759 50, 759 50, 759 57,145 51, 417 51, 438 51, 451 51, 901 52, 204 52, 543 52,855 86,214 Bulgaria 10,615 10,615 11,773 13,124 12,159 12,352 7,141 7,141 7,334 7,415 7,565 7,792 7,981 8,464 Czechoslovakia*, 4,053 12, 545 20,874 22, 574 31, 745 30, 575 30,731 Denmark _ 19,666 24, 506 29, 833 42,847 46,611 52,159 60,807 60,992 61,192 61,173 56,171 56,145 56,085 56,007 Estonia 1,384 1,279 1,312 Finland 6,948 8,229 8,229 8,229 8,229 8,229 8,229 8,229 8,229 8,371 8,242 8,354 8,357 8,250 Greece 5,211 7,257 11,194 11, 580 12,159 10, 422 11,001 11,001 10,808 6,058 7,250 7,680 8,941 8,936 Hungary... 7,460 10,365 29,526 Latvia... 2,123 2,548 3,223 4,555 4,555 4,555 Lithuania 1,520 1,640 3,080 3,230 3,136 Netherlands 60,898 83,663 172, 530 236,217 280,689 277,155 256,204 255,729 243,600 233,880 233,876 202,854 178,080 166,231 Norway 12,846 11,181 11,028 33,027 31, 214 32, 691 39, 590 39,472 39,475 39,474 39, 472 39,457 39,456 39,457 Poland 1,667 2,858 5,955 9,769 13, 078 19,949 25,793 26,677 Portugal 8, 760 9,261 9,261 9,261 9,261 9,263 9,266 9,266 9,267 9,267 9,267 9,267 9,267 9,267 Rumania 29,242 29,714 36, 264 22 2 200 329 329 7,585 24, 563 26,020 26, 735 27, 787 Russia 786,800 803,400 831,200 758,396 667,041 2,607 45,043 73,050 93,876 84,605 Spain 92,490 110,444 166,414 241,424 379,597 430,072 472,041 474, 228 484,984 487, 278 487,841 489,292 489,631 493,489 Sweden 27,372 29, 088 33,385 49,183 65, 513 76, 532 75,350 75,516 73,631 73,428 72,853 63, 508 61,647 60,162 Switzerland 32, 801 45, 922 48, 275 66, 585 69,025 80,041 99, 779 104, 780 106,058 103, 283 97, 642 90,140 91,050 Yugoslavia«__ 11,194 11,034 12,381 12,321 12,310 12,306 12, 233 12,352 14,282 12, 354 13,286 13,965 14, 657 16,620 Total European countires. 2,831,286 3,483, 769 3,803,838 3,503,234 3,572,259 3, 081, 519 2,890,954 3,034,214 3,032,980 3,043, 514 2,993,955 a, 084,0503,136, 630 3,363,358 Other countires: Canada: Minister of Finance 8... 115,894 98, 817 126,329 131,092 139,452 129,436 129, 322 112, 648 94, 635 146,434 126, 882 151, 208 156, 580 158,105 Argentine Government conversion fund. 224,989 213,906 228,939 251,158 252, 390 299,119 450,057 450,057 450,057 454,035 435, 880 435,880 435,880 Bank of Brazil' 53,202 26, 601 14, 598 14, 598 14, 598 15, 571 15, 571 19, 464 25,303 27,401 48, 665 53, 799 54,300 56,325 Central Bank of Chile 8 1,330 1,330 1,330 9,039 23,413 24,384 34,025 34,025 34,025 34,025 34,025 10,301 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Colombia: Bank of [the Republic 1,849 6,910 14, 599 16,495 Reserve Bank of Peru 19,646 20, 736 19,753 19,164 20,084 Uruguay: Bank of the Republic 10,826 13,483 22, 530 33,251 42,003 46, 718 56,756 57,307 59,494 56,807 56,812 56,809 56,811 56,819 Australia: Note reserves 21,899 38,932 73,484 78,351 85,650 104,143 116, 796 115,336 113, 389 116,499 121,088 130, 904 164,828 143, 966 New Zealand: Reserve banks 25,306 27,739 33,092 36,012 39,419 39,419 38,932 37, 472 37,472 38,367 38,294 37,581 37, 667 37,920 CIO India: Government rupee reserve 72,780 30, 202 41,361 38,636 86, 712 63,842 96, 205 116, 249 118,341 118,341 108,609 108, 609 108, 609 108, 609 Domestic holdings of the Bank of Japan and of the Ba G n o k v o e f r n J m av e a nt 6 1 4 0 , , 9 0 6 2 3 7 6 1 4 2 , , 0 4 6 1 2 8 6 1 8 8 , , 1 8 8 0 7 4 1 2 1 8 3 , , 9 4 8 1 4 1 2 3 2 7 9 , , 0 9 5 8 1 1 2 5 2 1 5 , , 6 8 0 2 0 1 3 6 4 9 9 , ,9 8 4 1 7 7 5 8 5 8 1 , , 8 2 4 1 0 4 6 5 1 8 0 , , 7 66 2 3 8 6 6 0 1 5 , , 3 6 0 7 6 8 6 6 0 2 0, , 1 8 9 6 4 9 5 5 8 3 5 , , 7 7 2 3 6 8 5 7 75 3 , ,3 7 9 6 4 8 57691,,831609 3 National Bank of Egypt 10, 381 21, 750 35,096 29,164 19, 278 16,312 16,312 16,807 16,807 16, 619 16, 510 16, 510 16, 510 16, 510 South Africa: Reserve bank. 39,905 43, 799 44,772 34,066 30,172 33, 579 35, 525 50, 612 57,911 50,782 51,838 52,441 43, 594 36, 703 w Total, other countries 650,172 593, 039 708, 522 790,053 985, 7451,019,482 1,248, 686 1,648,899 1, 676, 8251, 741, 9621, 742,406 1, 743,893 1, 791, 729 1, 738,896 § Grand total 4, 771,878 5,261,177 6,212,343 6,478,426 6,625,882 6,270, 779 6,080,961 6, 616, 9227, 272, 2528, 289, 7598, 568, 2428,917,144 8.913.018 9,181, 785 o i Includes gold held by the Treasury in trust as cover for gold certificates outstanding. See Federal Reserve Bulletin for April, 1927. * Gold held by Bank of England in both issue and banking departments; the latter ($6,142,584 in 1926) includes some silver. Figures include currency note reserve, which prior GO 1925 was held by exch equer. »Austrian account only. * Prior to 1926, Banking Office of Minister of Finance. s * Prior to 1920, National Bank of Serbia. * Includes Government reserve against Dominion rates, savings banks account, and such gold as is held in deposit by chartered banks in the Central Reserve. 7 Prior to 1923, guarantee of currency fund. 8 Prior to 1926, Government conversion fund. o g tr1 o § 3 to fcO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

222 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD PRICE MOVEMENTS IN PRINCIPAL COUNTRIES No. 119.—INDEX NUMBERS OF WHOLESALE PRICES, 1922-1926 [1913 = 100 i] United States Month m c t A o i o e m d l s l i - - A t c u u g r l r a - i l - N t a c u g u o r r l a n i - - l - E la n n g d - France Ger- Italy Japan N l e a e n t r d h - s - S d w e e n - l S a z n w e d r i - t - 2 1922 January 138 125 152 164 314 577 206 163 181 February 141 133 I 149 162 306 562 204 165 179 March 142 136 I 148 160 307 533 201 164 177 April 143 136 149 160 314 527 197 163 175 May 148 139 j 157 161 317 524 194 165 175 June 150 138 i 161 160 325 537 197 165 174 July 155 141 ! 169 160 325 558 201 164 173 August 155 136 | 174 156 331 571 195 156 173 September 153 136 171 154 329 582 193 152 170 October 154 139 ! 169 155 337 601 190 155 169 November 156 143 ! 168 158 352 596 188 158 163 December 156 145 i 167 156 362 580 183 155 163 1923 January j 156 142 169 157 387 575 184 157 163 February. 157 143 170 158 422 582 192 155 165 March 159 145 172 160 424 587 196 156 168 April __ 159 144 173 162 415 588 196 156 168 May 156 143 169 160 407 580 199 149 166 June 153 141 165 159 409 569 198 149 164 July 151 139 162 157 407 566 192 145 162 August 150 140 160 155 413 567 190 142 162 September.. 154 147 160 158 424 569 210 145 162 October 153 148 158 158 421 563 212 148 161 November,. 152 147 156 161 443 571 210 153 160 December.. 151 146 155 163 459 577 210 154 160 1924 January 151 145 157 165 494 141 571 211 156 161 February 152 144 159 167 544 ! 137 573 208 158 162 March 150 141 159 165 499 I 138 579 206 155 162 April 148 140 157 165 450 j 140 579 207 154 161 May 147 138 155 164 459 I 138 571 205 153 160 June 145 136 152 163 465 | 131 566 199 151 158 July... 147 142 152 163 481 i 128 567 195 151 157 August 150 148 152 165 477 I 133 572 200 151 160 September 149 146 151 167 486 I 139 580 206 158 163 October 152 152 151 170 497 I 142 602 213 161 167 November 153 151 153 170 504 | 141 621 214 161 167 December 157 157 156 170 507 I 143 640 213 160 168 1925 January.. 160 162 158 171 514 143 658 213 160 169 February.. 161 160 160 169 515 143 660 210 158 169 March 161 163 158 166 514 141 659 204 155 168 April 156 156 155 162 513 138 658 202 151 163 May 155 155 154 159 520 139 660 199 151 162 June 157 158 156 157 543 141 683 200 153 161 July 160 162 157 157 557 143 707 198 155 161 August 160 163 157 156 557 144 731 200 155 159 September.. 160 162 156 155 556 144 721 201 155 157 October 158 157 157 154 572 143 716 200 154 154 November.. 158 156 159 153 606 141 712 198 154 155 December.. 156 154 158 152 633 140 715 194 155 156 1926 January 156 154 158 151 634 136 708 192 153 153 February 155 152 157 149 636 134 704 188 149 152 March 152 148 155 144 632 133 693 184 145 149 April 151 149 153 144 650 133 692 181 143 150 May 152 149 153 145 688 132 698 177 143 151 June 152 151 153 146 739 132 709 177 144 150 July 151 148 152 149 836 133 724 179 141 148 August 149 145 153 149 770 134 740 177 139 147 September 151 146 154 151 787 135 731 175 140 146 October _ 150 143 153 152 752 136 712 174 143 148 November 148 141 154 152 684 137 709 171 147 148 December 147 142 152 146 627 137 681 170 147 150 1 Information as to base periods, sources, and number, of commodities included in each index maybe found on P- 48 of the January, 1924, issue of the Federal Reserve Bulletin. Digitized for 2F RFiAguSrEesR a re for first °* following month. July, 1914 = 100. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PART II STATISTICS FOR INDIVIDUAL FEDERAL RESERVE DISTRICTS 223 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 1—BOSTON No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 Gold with Federal reserve agent _ _ 96,738 78, 505 164, 365 168,271 Gold redemption fund with United States Treasury 6.351 • 6, 289 5,038 13, 527 Gold held exclusively against Federal reserve notes.. 103,089 84,794 169,403 181,798 Gold settlement fund with Federal Reserve Board. 39,336 32,809 32, 275 32,882 Gold and gold certificates held by bank _ 35,487 40,402 18,422 20,078 Total gold reserves _ _ I 177,912 158,005 220,100 234,758 Reserves other than gold. _ I 15,326 13,740 8,266 Total reserves.. _ __ 193,238 178, 703 233,840 243,024 Nonreserve cash _ 7,902 6,733 5,543 3,520 Bills discounted: Secured by United States Government obligations. 32, 294 21, 541 15, 217 21, 744 Other bills discounted _ 33,809 31, 573 13, 777 45,957 Total bills discounted.. 66,103 53,114 28,994 67, 701 Bills bought in open market.. 47,200 84,714 38, 802 United States Government securities: Bonds 531 553 2,472 529 Treasury notes _ 2,140 1,846 23, 727 6,697 Certificates of indebtedness 7,493 10, 336 10,461 2,636 Total United States Government securities.. 10,164 12, 735 36,660 9,862 Foreign loans on gold _ 577 Total bills and securities. 123,467 I 151,140 129,543 I 116,365 Uncollected items.. 65. 525 71,770 60, 635 55,034 Bank premises 3,946 4,068 4,190 4,312 All other resources. 75 102 180 131 Total resources _ 394,153 412,516 433,931 | 422,386 LIABILITIES Federal reserve notes in actual circulation. 154,363 174, 559 207,389 220,115 Deposits: Member bank—reserve account. 147, 016 141, 802 140,102 123, 637 Government. 1,951 895 3,856 2,356 Foreign bank 2,140 611 Other deposits 128 198 84 117 Total deposits.. 151,235 | 143,506 | 144,042 I 126,110 Deferred availability items.. 61, 867 68, 373 57,905 51, 609 Capital paid in 8,800 8,611 7,980 7,890 Surplus 17, 606 17,020 16,382 16,390 All other liabilities 282 447 233 272 Total liabilities.. 394,153 412, 516 433, 931 422,38& Ratio of total reserves to deposit and Federal reserve note liabilities combined (percent) _ 63.2 56.2 66.5 70.2 Contingent liability on bills purchased for foreign correspondents 4,290 5,205 225 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

226 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD No. 2,—-PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Fed- Date T r s b a i e o t i n c i l t e d l u a s s - l Total c m U G e u S b r o . e n e r S v y - - e n . - d t | | O c b d o t i i u h l s l n e - s r t- b o m o B k p u i a e l e g t r l n s h - t U s S e t n t c i a i e u t t s e r e i s d - l g e F o o i o a o g n l n r n d - s s T c e r o a r e v s - ta h e l s b M d s a e b e r e i e n r p t m e - s v k o r - e s s - ' T de i o t p t s o a s l - c s n e i e r l o r a r e i r c - t n a - v e u l e s - s c p R e e e r e n v - r t - e obli- ! ed tion gations 1926 Jan. 124,563 29,520 18,6551 10,865 12,450 555 198,878 147,,716149,601163,403 63.5 129,577 28,863 16,234 12,629 87, 993 12,203 518 194,422 1481,,6666l1|l15500; ,9"3"3" 167i 61.0 20- 124,952 28,056 14,284 13,772 84,105 12,310 4811188,480 146>,,8 85500 114499,,994444 115566,, 692 61.5 27_. 124,325 29,248 15,753 13,495 82,789 11,807 4811183,468 140, 997 145, 557 151, 213 61.8 Feb. 116,213 30,136 13, 72916,407 75, 696 9,907 474 j 195, 604 144,963 149, 636 149, 091 65.5 122, 55346, 689 13,513 33,176 66, 752 8,572 540188, 512 144,094 149, 357 147, 039 63.6 94, 68637, 321 13, 32723, 47, 838! 9,009 518J223, 582 143, 111 149,367 153, 837 73.7 • 24_. 100, 41844,539 13,796 30, 74347,316| 8,038 5251223, 704 139, 932 147, 338 161, 577 72.4 Mar. 3_. 88,392 36,089 14,035 22, 05443,375 8,267 661 235,325 142,475 151, 042 157,404 76.3 10- 71,353 22,311 13, 881 8,430 40, 595 7, 778 669 249,164 141,195 150, 242 155, 036 81.6 17.. 71, 37923, 734 15,241 8,493 40, 506 6,554 585 240,479 141,489 142, 643 153, 518 81.2 24.. 93,016 43, 781 15,416 28, 36541,433 7,194 608 226, 318 139,418 150,187 152, 906 74.7 31.. 94, 84642, 770 20,190 22, 58043, 664 7,766 646 222, 532 137, 740 147, 906 152, 740 74.0 Apr. 7.. 85, 25635,362 15, 55219,810 40, 532 8,693 669 225,592 1381.,137 146, 769 147, 76.5 14.. 88,112 31,103 13, 97717,126 45,332 11,016 661226,838 144,,903 152,8651145, 858 75.9 21.. 74,172 23,925 10, ~ 13.357 32, 296 17, 290 661235,534 142•, 4'2~1' 144,459145,605 81.2 28.. 61, 89225,107 9, 34315, 76418, 880 17, 289 616 239,957;1 40, "35"3" 141, 668 144, 882 83.7 May 5_. 55, 63219,368 10,325 9,043 18,404 17.290 570 248, 602 43, 559 145, 087 142, 715 86.4 12.. 63, 51422,172 10,186 11,986 23,491 17, 289 562 239, 061 .43, 891146, 339 140, 060 83.5 68, 42832, 469 10,406 22,063 17, 808 562|231, 537 .42, 680 144', 16"'1 138, 579 81.9 72, 60632, 235 14, 20018, 03522, 220 17; 589 562J225,132 .40, 750 143; 260 137^i,633 80.1 June 2_ 64,515 27, 20019, 473 7,727 18, 722 17,917 676'234, 949139, 543 140, 560 142,148 83.1 9_ 57, 80822, 55r 12, 034 10, 51816,153 18, 465 638 244, 481145, 146, 573| 139,801 85.4 16.. 55, 454 18, 953 10,434 8,519 14,123 21," " 5701247, 704.46, 067 146, 807 140, 928 86.1 23_. 53, 37924, 239 9,544 14, 69515, 732 12, 899 5091245, 648.40, 280 141,192 141, 044 87.0 30- 82,035 38,987 17,516 21,471 29, 731 12,899 418J223,467 .45, 682J146, 212 142, 777 77.3 July 7_ 74,121 35, 25212, 231 23, 021 25, 676 12, 821 372,228,949 .42, 291142, 9Oo! 143,436 80.0 14- 72,808 32,650 17,292 15.358 26, 841 13, 074 243)234,252 .51,885 153,312J140, 974 79.6 21- 61, 74424,110 10,327 13, 78324,408 12,998 228 237, 055 .42,468 144.9151139,105 83.5 28_. 59,005 27,430 17,950 9,480 18, 577 12, 899 99:242,487 .44,624 I47,495i 138,298 84.8 Aug. 4_. 63, 28430, 506 17,351 13,155 19, 880 12,898 1238,272 44,612 146, 2441139, /90 83.3 11 58, 6552 3 4 5 , , r 2 2 " 0 1 17 5 , , 5 5 0 ^ 7 1 8 8 , , 7 3 1 6 3 1 2 20 1 , , 5 7 7 4 5 8 1 1 2 2 , , 3 6 6 8 6 7 .--. . 2 4 2 1 29 ,1 ,2 8 5 6 4 . 4 4 0 3 , ,4 9 5 6 1 0 1 14 4 4 4 , , 7 37 3 3 8 ! 1 1 1 3 3 9 9 , , 6 6 7 0 0 4 8 8 0 4 . . 7 8 25.. 67, 58139,. 21, 29718, 20217,444 10, 638 . 234,826 .42, 882 144,815 141, 733 81.9 Sept. I.. 79,389 46,064 25,375 20, 689 22,839 10,486 222,771^40,968 143, 203 143, 545 77.7 8_. 68,496 37,821 26,238 11, 58320,627 10,048 237,000141,231142,302 147,072 81.9 15.. 41, 545 22, 762 18, 78324, 214 22,610 223,083 .51,026 151,998 146,773 74.7 22_. 73,188 39,936 24, 779 15,157 23, 245 10, 007 243,356L47, 202 153, 625 148, 76480.5 29_. 98,171 62, 54730,483 32,034 26, 308 9,316 217,354148, 513 152,005 149,160 72.2 Oct. 6_. 68,354 30,464 12,166 18,298 28,180 9,710 246, 050 146 151,404 150, 591 81.5 13_. 87, 99547, 704 17,359 30, 34530, 621 9,670 231,439145; 609 148,197 151, 711 77.2 20-. 65, 28523,944 15, 782 8,162 31,732 9,609 256,293153, 257 156,116 151,932 83.2 27.. 76,310 32,405 18, 20514,200 34, 296 9,609 245,816 150,844 15"16,,:728,151,273 79.8 Nov. 3-. 65,187 23,975 14,235 9, 740 j31,254 9,958! 251,307154,2298 157,298ll51, 380 81.4 10-. 67,434 24.175 15,866 8,309133,629 9, 6301 243,390148, 344 14IV,423|l48,742 81.6 Dec. 2 1 4 7 _ .. . 8 8 9 2 9 8 , , , 6 6 8 0 8 3 9 3 4 4 4 5 7 1 4 , , , 1 8 5 5 0 2 9 8 0 3 2 3 2 2 3 , , , 6 1 9 3 7 4 1 6 8 2 I 1 1 7 4 , , , 9 8 8 8 8 6 3 9 0 i 1 3 3 32 1 4 , , , 8 3 7 5 1 4 4 0 1 9 9 9 , , , 5 5 5 9 7 6 6 3 5 2 2 223 2 1 33 8 7 3, , , , 5 2 77 1 5 2 55 6 9 5 1 1 11 4 4 44 . 6 6 88 - , , , , 8 1 8 88 14 4 3" 4 4 5 ' 1 1 '1 5 " 5 5 2 ~ 2 j 2 2 , , 4 4 5 6 0 1 3 8 1 5 1 1 5 4 1 0 8 , , , 1 6 6 3 7 3 4 0 6 7 7 7 7 5 1 . . . 6 2 8 93, 94544.176 28,380 15, 79639,771 9,998 224, 572 145, 5509 149,794 155,988 73.4 15.. 89,467 44, 85132, 006 12,845!35,436 9,180 _ 223322;, 114422 115500,, 2251 150,976 159,769 74.7 22.. 05, 77857, 55034,049 23, 501[38, 367 9,861 .1' 210, 5351140,4495147,600161,603 68.1 29.. 26,953 70,922 31, 62539, 29746, 011 10, 020 -1187,718144,3306 147, 809 155,397 61.9 Daily average: 1926— 84, 68836, 572 11, 707 311'227,5031144,977 148,748 149,652 76.2 1925— 94,353 ! 46.745 13, 730 470 245,374 139,833 142,430 184,016 75.2 1924 65,874 18, 760 I 18,853 28,261 285,094131,952134,993 202,811 84.4 1923- 81, 26752, 633 ! 17,966 10,6681 .— 267,337125,822 129,377 214, 619 77.7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Month p d u is T r a c c o n o h t d u a a n s l e ts s Bi T ll o s t d a i l scount c M e o d b n l e l o a f m a o n t t e r e b k s r e m a r l embe c R r o b u e b i d n l a l i t n s s e - k d s B T i o ll t s a l boug o h B u t o t i r u n i g g o h h p t t en m r a W m e g a s r r e i a e k n t l e h e t e - t F r b b e o e f o B a s r t d u o i e h n l e g m r e l k r v s h r s a e t l U. T S o . t a s l ecuri o t m B i u e o t a s r r u i b k g g o e h h t u t t ght i a r W m n e g s r e o i a e n t p l e h t e e - n I F c r T b b e o u e f . o s a r t r d u o S e h n i e t g . m r e k i r v h e s r a s e e s t l - F o l n o o r a g e n o ig s ld n g 1926 1 January... 171,196 130,326 128,497 1,829 39,662 18,931 20,731 261 932 19 913 15 February 241,200 205,643 204,119 1,524 33,104 15, 863 17,241 1,734 1,734 719 March 237,050 199,529 195,661 3,868 34,413 15,277 19,136 2,948 1,698 1,250 160 April 180, 568 124,989 121,986 3,003 44,246 16,341 27,905 5,584 4,321 1,263 53 May 195,891 149,351 144,764 4,587 45,345 20,887 24,458 511 511 June 232,402 146,259 143,094 3,165 56,055 34,496 21,559 29,883 29,883 167 38 July 285, 585 230,380 227,722 2,658 53,146 35.240 17, 906 1,153 829 324 822 84 August 281,468 237,749 235,906 1,843 42, 811 31,960 10,851 250 250 658 September 387,120 325,071 322,743 2,328 37,132 30,255 6,877 24,917 24, 520 397 w October 428,919 375,207 372,450 2,757 53, 217 42,913 10,304 495" 395 100 o November 290,172 250, 220 247,018 3,202 37,981 25.241 12, 740 10 1,961 1,587 374 December 461,342 393,016 388, 225 4,791 61,890 31,433 30,457 6,370 5,316 1,054 g Total: 1926. 3,392,913 2, 767, 740 2,732,185 35, 555 539, 002 318,837 220,165 76, 738 69,079 7,659 7,409 1,753 1925.. 2,545,022 2,065,956 2,000,485 65,471 396,319 260, 759 135,560 77,949 37,123 40, 826 1,823 3 2,975 1 19 9 2 2 3 4 . .. 4 1, , 1 2 7 2 1 6 , , 2 3 8 3 4 8 3,6 8 5 2 2 2 , , 7 1 7 70 5 1,4 5 8 10 1 , , 9 0 2 1 4 2 2,1 3 7 1 0 2 , , 8 1 5 58 1 2 3 5 0 9 2 , , 4 0 9 8 8 3 2 3 2 0 5 2 9 , , 0 4 8 9 3 8 10,000 2 1 0 4 6 3 , , 4 4 2 1 6 0 1 1 2 5 6 8 , , 0 9 3 9 2 4 4 1 7 7 , , 4 37 3 8 2 1,260 1 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926—June $26,500,000, and September $21,000,000, 1925—$21,000,000, 1924— $59,000,000, and 1923—$155,000,000. 2 Includes $474,000 of bills payable in foreign currencies. 3 Includes $444,000 purchased from other Fe'ederal reserve banks. fcO to Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

228 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Month Maine H N s a h e m ir w e p- m V o e n r- t s M s a e c a t h s t u s - - R Is h la o n d d e n C c e u o c t n t i i - - Total N be u r m at - c b N o e m u r m m ac o - - end of dated month 2 during month 1926 January. 2,514 2,823 1,367 115,367 607 7,648 130,326 418 172 February _ 2,132 2,693 1,124 194,417 450 4,827 205, 643 418 162 March 3,407 5,363 1,493 180,810 1,180 7,276 199, 529 418 199 April 1,294 3,700 1,854 112,044 1.887 4,210 124,989 417 179 May 2,200 2,016 134,314 725 6,157 149,351 417 175 June _ _. 2,300 3,679 2,065 125,335 1,812 11,068 146,259 416 188 July 3,622 2,811 1,469 213,045 515 8,918 230,380 416 152 August 3,308 3,540 1,383 222,860 6,360 237, 749 416 155 September 1,421 3,614 1,407 309,828 658 8,143 325,071 415 159 October. _ _._ 4,131 3,023 2,189 356,459 821 8,584 375,207 415 152 November 3,197 2,642 1,236 231,562 2,959 8,624 250,220 416 164 December 4,300 3,623 1,963 361,878 11,354 393,016 416 202 Total: 1926 33,826 41,450 19, 5662, 557,919 21,810 93,169 2, 767, 740 1925 42,347 42, 577 18,158 1,872, 751 26, 606 63, 517 2,065,956 1924__ 42,267 42,453 18,024 645, 969 16,117 57, 340 822,170 1923 49,002 60,722 27,118 3,395, 562 30,023 90, 348 3, 652, 775 Number of member banks at end of year:2 1926 181 416 1925-_. - 181 420 1924__ 182 420 1923-. 183 424 Number of member banks accommodated during the year: 1926 135 286 1925 146 297 1924 L 148 317 1923. 153 313 i Figures relate only to that part of the State located in the Boston district. 3 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 1 BOSTON 229 No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 EARNINGS Discounted bills... $1,463,790 $1,197,662 $783,450 $2,320,839 Purchased bills 1,278,862 1,493,284 599,172 741,384 United States securities.. 401,552 455,055 1,049,841 419,739 Deficient reserve penalties 7,860 6,240 4,576 9,172 Miscellaneous _ 167,013 136,305 121,977 15,549 Total earnings 3,319,077 3,288,546 2, 559,016 3, 506,683 CURRENT EXPENSES Salaries: Bank officers... 116,250 114,209 122,000 137,500 Clerical staff 887,967 878,434 894,000 895, 768 Special officers and watchmen 34, 571 32,156 31,504 33,323 Allother 84,896 82,798 90,512 103,019 Governors' conferences 351 288 288 378 Federal reserve agents' conferences _ 221 186 276 176 Federal Advisory Council ... 526 517 452 478 Directors' meetings. 6,695 5,843 6,235 6,173 Traveling expenses 1 6,313 6,921 6,416 10,022 Assessments for Federal Reserve Board expenses 54,476 52,641 48,634 52,474 Legal fees 4,367 358 2,014 1,978 Insurance (other than on currency and security shipments) _ 28,529 27,347 26, 590 26,967 Insurance on currency and security shipments. ... 86,389 78,371 72,749 71,248 Taxes on banking house 128,205 110,040 105,593 108,063 Light, heat, and power 19,634 18,430 20,489 25,532 Repairs and alterations, banking house 4,606 853 2,492 7,258 Rent 1,798 1,688 3,913 29,640 Office and other supplies 22, 719 *0,868 21,485 28,462 Printing and stationery 42,644 36,466 47,828 61,784 Telephone 21,098 20,040 19,6C9 20,427 Telegraph . 8,351 7,995 8,233 Postage 203,427 191,447 172,851 167,097 Expressage... 40,050 38, 587 37,005 33,827 Miscellaneous expenses 48,138 38,090 39, 716 36,294 Total, exclusive of cost of currency _ 1,852,221 1,764, 573 1, 780, 737 1,866,121 Federal reserve currency, including shipping charges: Original cost __ _ _. 164,260 232,357 164,946 236,694 Cost of redemption 15, 931 28,925 27,818 31,439 Total current expenses _ 2,032,412 | 2,025,855 1,973, 501 2,134,254 PROFIT AND LOSS ACCOUNT Earnings __ 3,319,077 3, 288, 546 2, 559,016 3, 506,683 2,032,412 2,025,855 1,973, 501 2,134,254 Current expenses 1,286,665 I 1,262,691 585, 515 1,372,429 Current net earnings 8,531 3,207 20,556 | 25,849 Additions to current net earnings Deductions from current net earnings: 122,048 122,048 122,048 122,048 Bank premises—depreciation 15, 593 2,179 11, 650 20,309 Furniture and equipment 682 1,090 1,951 3,786 Allother... Total deductions 138,323 125,317 ! 135, 649 146,143 Net earnings available for dividends, surplus, and franchise tax 1,156,873 1,140,581 I 470,422 1,252,135 Dividends paid 525,023 502,648 477, 798 480,267 Transferred to surplus account- 585,888 637,933 2 -7,376 77,187 Franchise tax paid United States Government 45, 962 694,681 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries 6,578 16,543 65,953 Allother _ _ 757 1,272 2,775 12,788 Total 7,335 7,664 19,318 78, 741 1 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. 2 Deficit in earnings after payment of dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

230 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 6.—-VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 8,527 8,038 6,881 11, 363 Notes discounted _ 42, 290 46, 961 30, 829 55, 601 Bills purchased in open market for own account 38, 962 27, 772 16, 542 19,165 Currency received and counted. 237, 828,000 228, 605, 000 216.741,000 206, 664,000 Coin received and counted __ 191,127,000 182, 778,000 180,439,000 196, 501,000 Checks handled 76, 920,000 70, 534, 000 68,166,000 63,158,000 Collection items handled: United States Government coupons paid 3, 364,000 3, 906, 000 4,456,000 5,478, 000 Allother 418,000 428,000 542,000 727, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department. 362,000 561,000 1, 201,000 i 7, 594,000 Transfers of funds 55,000 53,000 51,000 50, 000 AMOUNTS HANDLED Bills discounted $2, 767, 740,000 $2,065, 956,000 $822,170,000 $3, 652,775, 000 Bills purchased in open market for own account .. 539, 002,000 396, 319,000 259, 498,000 302,083,000 Currency received and counted 1, 446, 805,000 1, 404, 472,000 1, 322, 986,000 1, 259, 323,000 Coin received and counted 21, 328,000 20, 945, 000 20, 413 000 20,170,000 Checks handled . 20, 387, 366, 000 18, 208, 989, 000 16, 559, 713.000 15,169,483,000 Collection items handled: United States Government coupons paid.., 54, 516, 000 59,024,000 63,151,000 69, 761,000 Allother?. 636, 317, 000 705, 261,000 592, 437, 000 722, 651, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 326, 918. 000 318, 786, 000 488,513,000 797,105,000 Transfers of funds 7, 419, 450,000 6,329, 210,000 5,606,721,000 4,186, 430,000 i Large total due to redemption of war savings securities which matured Jan. 1,1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures includes cash items only. Numbers in thousands; amounts in thousands of dollars] Items drawn on j Items formember and Items drawn on warded to Items drawn b n d a i o s n t n k ri s m c t e in m b ow er n Feder b a a l n r k eserve r o e t s h a e e n r r v d e F t e h b d e a e i n r r k a s l o T n r S e U t a a s n t u e i r t s e e d r Total Month branches | Num- Num- Num- Num- Number Amount ber Amount ber Amount ber Amount ber Amount 1926 January ._ 5,908 1, 485, 774 116,155 267 60, 521 133 16, 946 6,316 1, 679, 396 February 4,992 ,133,440 88, 617 233 53, 394 112 12, 611 5, 344 1, 288,062 March 5.911 , 474,433 111, 519 296 59, 977 130 14, 897 6.345 1, 660, 826 April 5,870 , 458,054 110, 504 257 58,191 153 17, 938 6,288 1, 644, 687 May 5,853 , 447, 603 93,107 253 53, 789 143 15, 397 6,256 1, 609, 896 June .... 6,230 , 606,122 82, 629 277 62, 378 137 16,047 6,651 1, 767,176 July 6,071 1, 603, 238 107,178 274 57.138 135 16, 759 6,489 1, 784, 313 August .- 5,661 1,459, 392 99,122 268 52, 518 134 16,052 6,071 1, 627, 084 September. _. 5,727 1, 467, 579 95, 838 273 58, 474 151 17, 354 6,159 1, 639, 245 October _ 6,428 1, 793.179 120, 950 307 61, 504 171 18,100 6,914 1, 993, 733 November 6,306 1. 577, 677 113, 460 309 60, 904 165 16, 280 6,787 1, 768, 321 December 6,815 1, 737, 530 106, 369 323 64,446 154 16,282 7,300 1, 924, 627 Total: 1926. 71, 772 18, 244,021 1, 245, 448 3,337 703. 234 1,718 194,663 176,920 20, 387, 366 1925. 65, 769 16, 056, 256 1, 285, 351 2,981 671,212 1,696 196,170 170, 534 1924. 63, 488 14, 697,114 1,106, 063 2,749 570, 014 1,839 186, 522 ,68,16616, 559, 713 1923. 58, 561 14, 328, 589 (2) 2,773 639, 940 1,824 200,954 63,158 15,169,483 1 Includes items drawn on Federal reserve bank, separate figures not being available. 2 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 1 BOSTON 231 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal re- Transfers for Total Total Transit clearing serve note Government payments receipts 1926, week clearing account to other from Net Net ending— Federal other loss gain reserve Federal m P e a n y t - s Receipts Pay- ce R i e p - ts Pay- ce R i e p - ts banks r b e a se n r k v s e Jan. 6 (5 days).. 198, 802 219, 510 439 639 1,000 200,241 220.149 19, S 13 241, 760 234, 255 1,426 1,053 3,000 246,186 235, 308 10, 878 20. •-.. 215, 870 218, 445 2,420 973 218, 290 219, 418 1,128 27 193,970 192, 318 1,419 709 1,000 196, 389 193, 027 3,362 Feb. 3.. 192,197 209, 617 1,099 571 193, 296 210,188 16, 892 10.. 164, 553 162, 550 1,160 507 165, 713 163,057 2,656 17.. 146, 240 177,471 948 521 147,188 177, 992 30,804 24.. 158, 36' 156,087 54' 506 158,914 156, 593 2, 321 Mar. 3.. 187,188 201,172 1,827 549 191,015 201, 721 10, 706 10.. 182, 539 196, 877 1,091 658 183, 630 197, 535 13,905 17.. 206, 676 216,198 1,327 634 221, 503 216, 832 4,671 24.. 193, 442 204,090 537 525 216,979 204, 615 12, 364 31.. 203,978 209, 768 1,389 54' 5,'000J 210, 36' 210, 315 52 Apr. 7.. 240, 072 249,450 2,141 500 2,000 244, 213 249,950 5,737 14.. 244,464 244, 494 245 71 244, 709 245, 211 502 21.. 212,149 229,557 1,022 597 219,171 230,154 10, 983 28.. 219, 461 224, 754 444 1,500 221, 405 225, 401 3,996 May 5 216, 275 229, 651 2,380 71 2,000 220, 655 230, 368 9,713 12 . . 211,093 202, 629 809 712 1,000 212,902 203, 341 9,561 19 245, 243,297 1,475 709 4,000 500 251, 277 244, 506 6,7' 26 198, 725 196, 304 657 658 199, 382 196, 962 2, 420 June 2 " 203, 731 217,170 1,155 651 1,000 204, 886 218, 82l! 13,935 9 220,922 227, 471 1,453 804 1,500 223, 875 228, 275! 4,400 2 1 3 6. 2 2 4 2 7 1 , , 3 4 7 5 2 4 2 22 5 8 2 , ,9 5 7 0 8 9 1, 6 0 8 0 0 0 8 8 2 5 6 0 10,0 5 0 0 0 0 400 2 2 4 3 8 2 , , 9 0 5 5 4 2 2 2 5 2 4 9 , , 2 3 0 5 4 9 2,693 5,250 278, 671 264, 9211 1,273 989 6, 300 286, 244 265, 910 20, 334 July 7 202,716 220, 815 785 5,000 208, 615 221, 600 12,985 14 ._. 199,373 201, 025 1,221 97 1,000 201, 594 202, 003 409 21 | 244,596 246, 442 991 1,242 245, 587 247, 684 2,097 226,993 234,975 1,340 1,016 228, 333 235, 991 7,658 Aug. 234, 706 233, 517 1,505 1,035 236,211 234, 552 1,659 199, 923 206, 375 975 1,085 2,500| 203, 398 207, 460 4,062 202, 054 191, 675 935 1,113 1,000 203, 989 192, 788 11,201 25.. 181,051 192, 814 1,235 1,336 6,000 194.150 5,864 Sept. 1_. 182,993 172, 572 1,459 1,238 184, 452 173,810 10,642 8.. 167, 334 181,400 778 1,126 168,112 182,5261 I 14,414 15. 199,984 184, 285 1,556 1,307 1,000 202, 540 186,192 16,348 22.. 217, 580 240, 914 556 1,327 5,000 223, 136 242, 2411 ! 19,105 29.. 200, 899 182,118 2,456 1, 278 3,000 206, 355 183,396! 22,959- Oct. 6 252,910 282,465 1,756 1,081 254, 666 283,546-. 28, g 13 182,709 172,918 1,039 735 1,500 185, 248 173,653 11,595 20 304,462! 330,322: 1,201 l,260| 3,000 308,663 331, 582 __ 22, 919 27 326,706 316,092' 1,629 1, 070! 3,000 331, 335 317,162! 14,173 IsTov. 3-. 190, 864 200,622^ 980 1,131} 3,000 194,, 201, 753! 10-. 213, 394 209, 535? 1, 9101,0131 3, 500 218, 804 210, 548! 8,256 17.. 238, 241 230,165| 1, 203 1, 071! 2, 000 241, 444i 231,236 10,208 24.. 227, 444 226,188) 1,435 978; 2,000 230, 879 227,166 3, 713 I Dec. 1. 200,132 190, 1,163 761 2,000 203, 295 191,657 11,638 227, 486 237, 207 1,228 896 3,000 231, 714 238,1031 6,389 15 234,157 241, 400 1,105 8571 1,500 236, 762 242, 257 5,495 22 295,238 294,920 1,151 726; 18,000 314, 389 295, e "18, 743 29 191,073 171,495 1,083 660 6,000 198,156 172,155 26, 001 31 (2 days).. 87,176 94, 867 42 452 2,000 89, 218 95,319. 6,101 Total: 1926 11, 277,967 11,497, 562 63,194 45, 326 158, 300 499,46111,545,388 45,927 1925... |151,500 009,402} 9,955,235 54,167 1924 68,000 1,107,300 9,123,544 16, 244 1923 124,150 8,008,088 8,052,933 44, 845 Net gain in ownership of gold since establishment of fund in 1915—$201,341,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

to No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES CO to [Amounts in thousands of dollars] BOSTON DISTRICT Loans and investments Net Call date Total a c L n o d u o n a d n ts i s s l - Total Inv G s e m U e o s c v . t e u S m e n r . r t i e n - nt s s O e t c i t e h u s e ri r - b f D a ro n u m k e s C s a d p u n i a r v d r o p p i d f i l i t u u e t a n s s d l - , , de T p o o t s a i l ts d D ep em os a it n s d 2 p T o d im e si - t e s U S po n t d a e s i t t - i e e ts s d D ba u n e k t s o d d e e p N m o e a s t i n t d s3 d G d e e m t o p a m p i v m l n e o u e a n d s e s r n t i n t d s - R r F e b w e e s a s d e i e n t e r r h v k r v a e e l p c r a B o e a y d u n i a l i n d l b s s t - l s e r b N e a b i p u n o n e o m g f k r rt s - ties 1921 Dec. 31 1, 743,885 1,305,613 438,272 161,649 276,623 90,049 328,859 1,667,031 1,093,405 408,778 25,445 139,403 1,120,589 1,554,812 110,440 76,020] 436 1922 Mar. 10 1, 763, 573 1,305,495 458,078 174,43: 283,641 81,926 336,880 1,679,111 1,077,957 429, 645 29,199 142,310 1,118,583 1,577,427 110,244 45,045 436 June 30 1,859,143 1,308,057 551,086 223, 588327,498 88,416 336,676 1,821,523 1,185,139 480,337 14,363 141,684 1,197,538 1,692,238 118,829 50,839 433 Dec. 29 1,969,039 1,387,617 581,422 253,433 327,989 85,972 341,189 1,923,457 1,234, 538 510,961 25,124 152,834 1,' 254* 974 1^791,0591 129^027 86,769 429 1923 Apr. 3 1,992,182 1,416,805 575,377 248,271 327,106 83,864 341,830 1,929,611 1,198,603 551,328 26,303 153,377 1,223,394 1,801,025 123,011 85,104 427 June 30 2,051, 501 1,463,290 588,211 258,067 330,144 79,175 343,218 1,962,055 1,216, 567 574, 781 38,182 132, 5251,233,447 1,846,410 125, 773 90, 695 427 Sept. 14 2,062,160 1,480,730 581,430 253,662 327,768 79,873 340,726 1,976,189 1,227,809 593,934 20,803 133,643 1,246,848 1,861, 585 122,910 94,835 424 Dec. 31 2,049,014 1,471,337 577, 677249,987 327,690 92,943 335,621 2,022, 322 1,256,092 599,437 23, 552143,241 1,261,258 1,884,247 124,243 105,130 424 1924 Mar. 31 2,026, 228 1,458,170 568,058 238,648 329,410 73,729 340,394 1,989,958 1,195,338 633, 558 21,555 139,507 1,212,164 1,867,277 121,920 57,657 421 June 30 2,059, 936 1,449,788 610,148 249,740 360,408 102,631 341, 710 2,101,692 1,255,367 657,438 25,119 163, 7681,279,946 1,962, 503 130,161 28,014 421 Oct. 10 2,171, 906 1,536,068 635,838 243,720 392,118 102,740 347,779 2,219, 597 1,296,221 702,701 41,814 178,861 1,339,768 2,084,283 136,458 21,614 419 Dec. 31 2,172,293 1, 542, 531629, 762243,138 386,624 102,551 338, 921 2,225, 584 1,328,286 685,875 36,150 175,273 1,348,455 2,070,480 140,840 78,375 419 1925 Apr. 6— 2,207, 524 1, 580,739626, 785240,043 386, 742 84,469 361,307 2,192,140 1,253,968 733,041 35,902 169,229 1,293,870 2,062,813 132, 902 74,085 420 June 30 _ 2,252,028 1,620,049 631, 979233,015 363,459 2, 270, 331 1,340, 279 758, 742 12, 913 158, 3971,350,456 2,122, 111 141,042 73,820 420 Sept. 28 2,324,689 1,690,152 634, 537232,661 401,876 87,157 359,046 2,302,544 1,364, 726 762,858 19, 656 155,304 1, 381, 936 2,164,450 141, 545 66, 331 420 Dec. 31 2, 395,186 1, 725, 567669, 619247, 550422,069 104,944 357,928 2,410,994 1,433,757 782, 875 27, 916 166,446 1,426,888 2,237, 679 141,116 105,230 420 1926 Apr. 12 2,391,130 1,686,123 705,007 274,882 430,125 90,542 368,659 2,395,852 1,361,446 812,461 53, 727 168,218 1,385,805 2,251,993 143, 796 48, 741 418 June 30 2,426,260 1, 707,053719,207 256,848 462,359 93, 797 361,5031 2,457,656 1,421,565 844,070 30,211 161,810 1,405, 825 2, 280,106 145, 607 65, 311 416 Dec. 31 2,458,049 1, 738,175719,874 237,182 482,692 92,382 365,463 2,446,968 1,404,370 858,168 22, 566 161,864 1,403, 781 2,284,515 147, 755 113, 361 416 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF BOSTON 1925 Dec. 31 1,014,816 840,987 173,829 70,871 102,958 44,036 144,091 1,082,327 724,016 215,240 21, 530 121,541 719,873 956, 643 77,820 75,322 21 1926 Apr. 12 994,148 798, 784 195,364 93,049 102,315 31,414 149, 723 1,052,762 670,923 211, 504 47,177 123,158 695,975 954,656 75,220 27,047 20 June 30. 1,016, 577 810, 567 206,010 81, 697 124,313 39,872 148,477 1,104,418 736,991 222,425 26,091 118,911 722, 797 971, 313 78,986 42,193 20 Dec. 31 1,017,636 824,337 193,299 69,595 123,704 38,543 147,831 1,067,612 704,249 227,283 17,835 118,245 705,880 950, 998! 79,828 87,037 20 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. H O to CO 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

234 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (420 1926 (418 1926 (416 1926 (416 banks) banks) banks) banks) RESOURCES Loans and discounts _ 1, 725,008 1, 685, 565 1, 706, 444 1, 737, 653' Overdrafts _ _ 559 558 609 522 United States Government securities 247, 550 274, 882 256, 848 237,182 Other bonds, stocks, and securities 422, 069 430,125 462, 359 482, 692 Total loans and investments 2, 395,186 2, 391,130 2, 426,260 2,458, 049 Customers' liability on account of acceptances 45, 695 52, 206 44,115 43, 024 Banking house, furniture, and fixtures 63, 942 64, 815 64, 441 64,960* Other real estate owned __ 6,331 6,487 7,771 8, 200? Cash in vault 44, 996 44, 631 43, 419 40,066 Reserve with Federal reserve bank. 141,116 143, 796 145, 607 147, 755 Items with Federal reserve banks in process of collection. 78,168 60, 507 62, 937 67, 685 Due from banks, bankers, and trust companies 104, 944 90, 542 93, 797 92, 382 Exchanges for clearing house and checks on other banks in same place _ 67, 920 42, 849 73, 056 60, 571 Outside checks and other cash items 9, 262 5,581 10, 391 9,144 Redemption fund and due from United States Treasurer. 2,378 2,361 2,338 2, 3241, United States securities borrowed l 223 179» Other securities borrowed * 21 21 Other assets 25, 081 :8, 758 25, 244 42, 837' Total. 2, 985, 027 2,933,663 2,999,620 | 3,037,197' LIABILITIES Capital stock paid in _._ 152, 027 154, 704 153,522 ! 154, 562- Surplus fund 136,161 138,061 137,867 ! 140, 251 Undivided profits, less expenses and taxes paid 69, 740 75, 894 70,114 | 70, 650 Reserved for taxes, interest, etc., accrued 10,309 10, 460 12,571 j 12,024 Due to Federal reserve banks 5,939 4,281 4,492 ! 5,324 Due to banks, bankers, and trust companies 160, 507 163, 937 157,318 ! 156,540 Certified and cashiers' or treasurers' checks outstanding. 25, 535 22, 991 39,982 ! 26, 449> Demand deposits 1, 408, 222 1, 338, 455 1,381,583 1, 377, 921 Time deposits... _ 782, 875 812, 461 844,070 ; 858,168" United States deposits 27,916 53, 727 30,211 22. 566 Total deposits _ 2,410,994 2, 446, 96& Agreements to repurchase United States Government 2,395,852 2,457,656 \ or other securities sold 500 Bills payable (including all obligations representing 500 500 | money borrowed, other than rediscounts) 29, 381 40, 628 • Notes and bills rediscounted (including acceptances of 18, 243 25,299 j other banks and foreign bills of exchange or drafts sold with indorsement) 75, 849 30, 498 40,012 j 72, 733: Letters of credit and travelers' checks sold for cash and outstanding _ 900 908 1,394 508- Acceptances executed for customers 44, 901 53, 978 45, 626 43, 71 ft- Acceptances executed by other banks for account of reporting banks. _ 2,931 2,755 1,975 1, 708- National-bank notes outstanding 46, 808 46, 771 45, 904 46,014 United States securities borrowed _ 60 125 223 179 Other securities borrowed... 35 27 21 21 Other liabilities 4,931 4,887 6,936 6,732: Total.. 2,985,027 j 2,933,663 19,620 I 3,037,197 1 Exclusive of securities borrowed by national banks, prior to June 30,1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

235 DISTRICT NO. 1—BOSTON No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having a Banks in cities and towns having Date population of— a population of—• Total Total Less 5,000 15,000 Less 5,000 15,000 100,000 than to to 100,000 than to to and •$ 5,000 14,999 99,999 and over 5,000 14,999 99,999 over.$ 1923 Apr. 25 1, 238, 619 39,313 66, 277 194, 020 939,009 557, 250 45, 918 60, 840 133, 342 317,150 May 23 1, 253, 416 40,332 67,108 196, 329 949, 647 570,005 45, 882 61, 491 142, 479 320,153 June 27 1, 232, 669 40, 568 66, 219 196, 764 929,118 573, 576 45, 845 62, 691 138,084 326, 956 July 25 1, 253, 798 43, 342 68,097 200, 662 941, 697 584, 887 46, 552 62, 944 139, 394 335, 997 Aug. 29 1, 219, 551 45, 987 67, 856 194, 743 910, 965 592, 992 47,105 64,076 141, 787 340, 024 Sept. 26— 1, 235,190 46, 653 69, 323 198, 343 920,871 597, 798 47, 401 64, 280 143, 441 342, 676 Oct. 24 1,289,844 46, 931 70, 873 202, 500 969, 540 600,215 47, 760 64, 889 145, 989 341, 577 Nov. 28 — 1, 235, 543 43, 774 68, 460 198, 063 925, 246 601, 031 48, 406 65,213 146, 664 340. 748 Dec. 26 1, 221, 773 42, 585 67, 347 198, 952 912, 889 594, 898 48, 752 64, 894 144, 342 336, 910 1924 Jan. 23 1, 233, 878 41,373 66,090 194, 962 931, 453 606, 068 49, 661 66,144 147, 608 342, 655 Feb. 27 1, 212, 245 39, 985 64,183 190, 729 917, 348 624,184 50,414 67, 466 151,120 355,184 Mar. 26— 1,198,151 39, 286 63, 970 190, 403 904,492 637. 392 50, 776 68, 429 154,409 363, 778 Apr. 23 1, 223, 749 39, 773 65, 670 193, 410 924, 896 636,067 51,157 68.814 155, 585 360, 511 May 28 1, 228, 359 39, 361 64, 708 196,489 927, 801 646, 626 51,247 69, 272 159, 320 366, 787 June 25 1, 249, 512 39, 265 65, 898 196,198 948,151 656, 959 51,399 69, 933 160, 898 374, 729 July 23 1, 295, 088 42, 909 67, 290 199, 913 984, 976 679, 410 51,471 70, 701 162, 333 394, 905 Aug. 27 1, 286, 094 45,083 66, 443 197, 730 976, 838 693, 671 51, 781 70, 906 163, 942 407,042 Sept. 24.... 1,312,039 46, 677 68, 918 202, 828 993, 616 702, 771 51, 873 71,196 165, 348 414, 354 Oct. 29 1, 385, 832 45, 381 70, 740 209, 294 1,060,417 704, 918 52, 711 72, 204 166, 976 413, 027 Nov. 26 — 1,327,141 43, 964 69, 709 204, 896 1,008,572 694, 406 53,031 72, 333 167, 496 401,546 Dec. 24 1, 299, 657 41, 755 66, 981 201, 485 989, 436 685, 226 53,007 7.1,747 164, 896 395, 576 1925 Jan. 28 1, 330, 862 41,314 67, 301 202, 295 1,019,952 702, 350 53, 807 73,124 167, 258 f408,161 Feb. 25 1,311,144 41, 450 66, 471 202, 740 1,000.483 718,442 54, 995 74, 273 168, 903 420, 271 Mar. 25 1, 270,144 39, 686 65, 494 198, 975 965, 989 721, 631 55, 546 74, 906 171, 837 419, 342 Apr. 22 1, 298, 704 41, 374 67, 939 204, 606 984, 785 729, 635 55, 535 75, 575 173, 235 425, 290 May 27 1, 313, 510 41, 237 68, 219 207, 510 996, 544 745,103 55, 376 76, 473 174,075 439,179 June 24 1, 337, 475 41, 647 68,537 207, 283 1,020,008 762, 492 55, 443 76, 808 174, 854 455, 387 July 29 1, 368,029 45,107 72, 314 210, 694 1,039,914 768, 278 56,100 77, 343 176,173 458, 662 Aug. 26 1, 349, 913 47, 997 73,251 211,457 1,017,208 771,237 56, 461 78,141 178,414 458, 221 Sept. 23 1,370,418 50, 349 74, 441 215,285 1, 030, 343 764, 554 56, 914 78, 632 178, 237 450, 771 Oct. 28 1, 445, 553 50, 893 77, 351 225, 399 1,091,910 778, 410 57, 362 78, 988 181, 911 460,149 Nov. 25__._ 1, 395, 241 48, 536 75, 469 221,162 1,050,074 794, 772 58,051 79,169 184, 250 473, 302 Dec. 23 1, 390, 238 45, 700 73, 034 216, 6,52 1, 054, 852 795, 819 58, 511 78, 373 181, 401 477, 534 1926 Jan. 27 1, 374, 330 45, 722 72, 830 210, 532 1,045,246 801,024 59, 705 79, 839 184,757 476, 723 Feb. 24 L, 350,075 46,010 72,141 209, 697 1,022,227 813,127 60, 321 80. 872 187,499 484, 435 Mar. 24 I, 337, 219 44, 886 71,011 207, 507 1,013,815 820, 818 61,195 82,183 191, 734 485, 706 Apr. 28 L, 364, 018 45, 660 72, 280 213,189 1, 032, 889 835, 447 62,018 82, 855 194, 697 495, 877 May 26 L, 360, 730 45, 586 72, 432 213, 347 1. 029, 365 848, 206 62, 270 82, 930 195,133 507, 873 June 23 L, 376, 357 45, 652 72, 230 216, 437 1,042,038 852, 245 62, 560 83, 341 195, 288 511,056 July 28— , 380, 743 49, 299 75, 234 218, 568 1,037,642 855, 251 63,190 84, 511 198, 906 508, 644 Aug. 25 , 352, 560 51,316 75, 945 215,901 1,009,398 864, 230 63, 739 85, 290 200, 572 514, 629 Sept. 22 , 399, 250 52, 922 77, 838 218,790 1,049,700 871,559 64,118 85, 772 201, 916 519, 753 Oct. 27 , 442, 940 51, 762 78, 513 225,108 1,087,557 875, 910 64, 609 86, 570 203, 616 521,115 Nov. 24 1, 411, 992 49, 915 77, 097 219, 633 1,065,347 878, 068 65, 018 86,078 205, 353 521 619 Dec. 29 1, 373, 855 46, 743 73, 802 213, 937 1, 039, 373 866, 485 65, 261 85, 688 200[ 829 5K 707 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

236 ANNUAL REPOKT OF THE FEDERAL RESERVE BOARD No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Govern- Loans and investments ment deposits Bor- Re- row- (W D d e a d a y n t e e ) s- Total Total L se o t c O i a u e n n r s i s - o A th l e l r I m nv e e n st t - s Total N m e a t n d d e- Time m G er e o n n v - t - r s e b w F e e s a e r e r i v r n a t d v h e l k - e s re b f F i e s r n a e o e r g n r a d m v s k l - e Weekly averages: 1922... 1,070, 246 804,858 238,554! 566,304 265,388 1L,, 020, 630784,206! 218,813 17,611 82, 50822, 569 1923... 1,177,978 874,981 252,748! 622,233 302,997 lLi, 091, 629|814,4081 258,434 18,787 84,622 32, 422 1924... 1,199,525 885,383 259,889 625,494 314,, 1-4'2[ 1,, 163,097i842,299, 303,679 17,119 89,172 5,735 1925.__ 1,304,600 979, 508 323,785 655,723 325>,, 092L1,; 263,423 887,520! 362,635 13,268 93,929 16, 746 1926.__ 1,386,781 1,001, 644 350.495 651,149 385,, 137L 1,. 341,987 900,732 415,680 25, 57596, 560 18,909 1926 Jan. 6 1,366,551 1, 013,473 359,059 654,414 353,078 11,335, 228 916,001 398,155 21, 07297,386 9,412 13.... 1,357,676 1,007,558 353,086 654,472 350, ., 332,088! 914,790 397,699 19,599 99,506 7,525 20.... 1,359,205 1,008,360 353,764! 654,596 350,845 1.,, 325,056: 912,076 393,428 19,552 98, 658 8,110 27 1,355, 723 1, 004,538 355,347 649,191 351,185 1,,313,767! 901,957! 392,211 19, 59994, 771 Feb. 3.... 1,343,366 993,181 346,211 646,970 350,185 1,304, 904 893,228! 392,078 19,598 97,354 11,110 10.... 1,359,239 1,004,430 342,813 661,617 "5 ,' ~~~ :, 309, 568896,694! 393,276 19, 59898,165 27,875 17.... 1, 349,986 1,001, 742 351,978 649,764 348,244 1., 309,080!894,006! 395,476 19,598 95,040 18,865 24 1,355,196 1,003,707 357,041 646, 666 351,489 1.,297,957: 879,473 398,886 19,598 94,461 26, 584 Mar. 3.... 1,352,342 1,001,417 355,412 646, 005 350L, 925 1,314,026 895,434 398,994 19,598 19,329 10.... 1,345,959 989,980 341,956 648,024 355i,, 979 .,1 3,05,658 887,910 398,150 19,598 96,028 4,886 17.... i, 381,348 990,808 339,651 651,157 390I,, 540 ,1343,352^ 884,015 399,039 60,298 95, 797 6, 557 24 . 1,379,115 990,557 333,552 657,005 388, 558 1,316,3171 870,023 398,842 47,452 94,414 24,278 31 1,364,313 990,361 339,468 650,893 3731,,952 11,312,764 864, 802 400,500 47,462 92, 744 19,505 Apr. 7____ 1,375, 041 981,312 320,274 661.038 393,, 729 1., 323,426 875,495 400,479 47,452 91,843 15,308 14 1,376,182 990,650 327,785 662,865 385i,, 532 1,346,503! 896,915 402,136 47,452 14,581 21.... 1,369,162 983,128 330,836 652,292 386,034 1.,325,997! 884,819 403,148 38,030 93,500 9,629 28.... 1,372,430 985, 207 332,503 652,704 387, 223 1,331,292! 883,681 408, 747 38,864 93,273 11, 619 May 5.... 1,377,908 982, 613 335,889 646, 724 395i,,295l,344,64l! 890,222 417,110 37,309 97, 759 5,674 12.... 1,377,461 981, 719 338,264 643,455 3951,, 742 1,352,148! 900,652 416,048 35,448 96,296 7,709 19.... 1,377,813 975,843 327, 739 648,104 401,,970i;., 342,3291 894,293 417,022 31,014 96,132 18,468 26.... 1,379,381 976,573 338,368 638,205 402, 808 1,329,869 j 882, 556 417,537 29,776 94,592 17,238 June 2 1,389,513 985,543 335,088 650,455 403,970 1,343,676 887,152 426, 74929,775 93,762 12,311 9.... 1,388,148 987,872 334,682 653,190 400, 276 1,338,186 890,503 417,907 29,776 98,633 7,013 16.... 1,389,901 991,104 338,424 652,680 398,797 1,352,19l| 897,373 425,042 29,776 97,045 5,732 23.... 1,392, 747 995,175 347,269 647,906 397,57211,343,188! 892, 524 420,888 29,776 93,320 10,408 30.... 1,384, 209 996, 255 351,445 644,810 387,954 1,356,1591 913,097 417, 004 26,058 98,065 23,304 July 7.... 1,402,122 1, 005,393356,893 648,500 396,729 1,355,498 422,375 24, 75594,126 21,519 14.. 1,404,851 1,007,874 350,853 657,021 396,9771,371,0741 925,515 422, 787 22, 772 102,45818,254 21.... 1,382, 748 985,377 329,953 655,424 397,371 1,333, 540 892,800 417, 968 22,772 94,304 10,240 28.... 1,378, 865 982,129 329,379 652,750 396,7361,332,754 892,577 417,405 22, 77296,287 11,930 Aug. 4.... 1,380,699 992,423 337, 538 654,885 388,27611,327,305 883,391 421,143 22, 77196,193 16,169 11.... 1,382, 701 997,022 342, 793 654,229 385,679 L1,, 333,902 892,515 422,459 18,928 93,989 10,553 18.... 1,375,196 989, 248 339,834 649,414 385,94811.,318,440 878,259 422,241 17,940 92,842 23,014 25..... 1,363,174 978, 710 335,494 643,216! 384,464 11,,303,110 867, 786 421, 691 13,633 94,465 24,570 Sept. l.-_. 1,365,839 343, 671 640,422; 381,746 1,314, 710 872,978 428,097 13,635 92,984 30,328 8 1,387,741 1,007,057 364,850 642,207i 380,684|l,328,486 881,090 433,764 13,632 93,540 23,163 15.... i; 428,445 1,032, 547384,476 648,0711 395,8981,378,605 911,0521 431,802 35,751 90,844 29,004 22.... 1,420, 792 1,020, 543377,015 643,528! 400,249 1,367,350 904,188 427,409 35,775533 102,822 26,954 29.... 1,441, 791 1,036,354 386,993 649,3611 405,4371,369,582 910,037 423,801 35, 74498,656 47,587 Oct. 6_._. 1,431,436 1, 030,018381,253 648, 765! 401, 4181,390,363 931,904 422, 706 35, 753 1,437 17,278 13.... 1,431,284 1, 035,157380, 017 655,1401 396,12711,388,794 932,344 424,782 31,668 98,262 34,434 20.... 1,435,322 1,042,168 386,365 655,803j 393,154|1,395,584 948,879 426,798 19,907 102,035 11,863 27 1,423,506 1,020, 731356,669 664,062i 402,77511,379,475 933,094 429, 514 16,867 100,439 20,974 Nov. 3..- 1,422,486 1,030,117 369,923 660,194 392, 369 1,389,963 944,599 428,441 16,923 100,941 13,450 10.... 1,415,238 1,027,312 355,844 671,4681 387,9261,383,469 939,825 429,256 14,3~8"8 99,613 12,552 17 1,414,533 1,022,214 360,149 662,065 392,3191,375,479 938,765 426,641 1L00;, 007733 101,30128,076 24..,. 1,406,868 1, 014,433 358,755 655,678 392,43511,357,840 918,292 430,483 9,065 95,990 29,815 Dec. 1.-- 1,401,145 1,010,489 358,936 651,553 390,65611,354,233 916,327 428,840 9,066 98,159 38,256 8.-- 1,393,759 1,002, 024357,078 644,946 391,7351,341,852 904,387 428,399 9,066 98,268 27,846 15.-. 1,400,065 1,001,682 358,649 643,033 398,383 1,359,570 913,875 427,989 17, 706 1001;,167 26,504 22 1,398,209 1,006,594 366,206 640,388 391,6151,345,361 901,3331 426,326 17, 70294,717 35,461 29.... 1,403,902 1,010,684 368,258 642,426 393,2181,337,574 894,1751 425,699 17,700 94, 61541,087 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrowings Month Loans with Fed- from Fed- Total On securi- I m n e v n es t t s - Total de N m e a t nd Time Go m v e e n r t n- eral b r a e n s k erve era b l a re n s k erve Total ties All other 1922 J M A F a e p n a b r r u i r c l u a h r a y ry .. . . 1 1 1 1, , , , 0 0 0 0 1 2 0 1 4 3 4 6 , , , , 7 1 7 1 5 5 6 8 1 3 9 2 8 7 8 7 0 0 9 9 0 7 9 0 , , , , 2 3 8 6 9 5 6 2 7 7 4 2 2 2 2 22 4 3 4 9 1 3 5 , , , , 0 4 3 6 5 4 8 0 5 4 5 5 5 5 5 5 6 6 6 5 6 1 1 8 . , , , 0 9 8 9 1 0 1 1 7 9 2 3 2 2 2 22 1 0 1 5 5 4 4 , , , , 8 3 8 5 5 9 9 6 6 4 8 7 9 9 9 9 6 6 4 5 6 6 7 5 , , , , 3 0 8 1 8 5 5 0 4 7 0 0 7 7 7 7 4 3 5 5 7 3 3 6 , , , . 2 4 4 7 2 9 9 8 1 5 7 2 1 1 1 19 8 8 9 6 2 7 3 , , , , 9 3 4 0 9 3 0 0 7 6 0 7 3 2 1 1 1 0 6 5 , , , , 4 8 3 9 8 5 2 8 9 6 9 2 7 7 7 7 9 7 7 5 , , , , 0 5 4 9 3 6 2 0 4 6 7 2 2 2 2 1 5 4 5 5 , , , , 5 6 8 3 9 8 9 4 6 5 7 4 M U u l J J M A u u u n l a y g e y u — st- . 1 1 1 1 , , , , 0 0 0 0 7 7 8 3 9 7 5 5 , , , , 6 9 1 2 8 9 1 4 3 2 8 0 7 7 7 7 9 8 9 8 1 6 6 5 , , , , 6 8 0 5 7 9 4 0 6 6 4 9 2 2 2 2 3 2 2 3 3 6 2 2 , , . , 2 4 5 7 7 1 4 5 1 7 6 7 5 5 5 5 5 6 5 6 9 3 8 2 . , , , 4 9 7 9 7 8 3 3 9 7 8 0 2 2 2 4 9 8 9 9 1 , , , 0 2 5 0 3 7 7 1 4 1 1 1 , , , 9 0 0 0 9 3 4 4 4 8 0 3 , , , , 0 4 2 0 1 3 2 4 6 3 4 8 8 7 7 7 7 9 0 8 4 5 9 2 , , , , 2 0 8 5 9 0 1 0 1 7 6 4 2 2 2 2 0 2 3 3 6 5 1 6 . , , , 1 0 1 7 9 8 7 1 6 9 7 5 1 1 1 3 7 9 4 , , , , 8 2 0 8 6 1 1 2 8 4 6 8 8 8 8 8 2 4 5 6 , , , , 9 0 1 1 8 7 2 1 7 7 9 3 1 1 1 1 1 0 5 4 , , , , 3 5 4 1 4 3 1 6 1 9 7 0 S N D O e e o c p t c v o t e e e b m m m er b b b e e e r r r . . . . 1 1 1 1 , , , , 1 1 1 1 0 2 4 2 5 7 4 9 , , , , 5 0 0 9 7 7 1 1 3 3 0 0 8 8 8 8 0 4 2 2 4 2 7 6 , , , , 3 7 4 6 5 9 9 0 3 0 5 6 2 2 2 2 3 5 4 6 4 6 9 0 , , , , 8 8 7 63 1 2 0 6 5 0 0 5 5 5 5 6 8 7 6 9 5 6 6 , , , , 6 6 9 9 5 8 7 7 3 0 0 0 3 3 3 30 0 0 0 2 0 0 1 , , , , 9 5 2 5 6 7 ^ 5 7 8 0 7 1 1 1 1 , , , , 0 0 0 0 6 8 9 6 1 0 2 7 . , , , 7 0 0 9 4 4 5 1 6 1 1 8 8 8 8 8 2 0 2 1 0 3 8 0 , , , , 7 2 0 5 5 5 2 5 6 8 9 8 2 2 2 2 3 3 4 4 9 7 6 3 , , , , 3 3 5 5 5 0 8 3 6 8 4 1 2 1 1 1 0 9 2 9 , , , , 3 9 1 8 5 8 3 9 8 7 2 9 8 8 8 8 4 7 4 5 , , , , 8 6 7 0 6 9 6 8 4 5 4 8 2 4 4 1 0 3 4 7 , , , , 6 8 2 3 9 8 6 5 3 5 4 2 W o January... 1923 1,170, 704 857,017 264, 263 592,754 313,687 1,100,394 845,658 240, 732 14,004 87,083 30,286 Ul February- 1,168,139 861,349 257, 608 603, 741 306, 790 1,074,044 821,275 244,386 83,621 35,704, M Ap a r r i c l h 1 1 , , 1 1 5 6 6 4 r , 9 6 8 1 3 5 8 8 5 6 9 5 , , 2 7 7 2 6 0 2 2 5 5 1 3 , , 1 7 6 9 6 8 6 61 0 2 7 , , 5 4 5 7 4 8 2 2 9 9 9 7 , , 2 3 6 3 3 9 1 1, , 0 0 7 5 5 8 , , 6 0 8 1 2 0 8 7 0 9 7 7 , , 0 2 9 3 6 0 2 2 5 47 1 , , 4 0 5 0 4 8 1 17 3 , , 3 5 2 7 6 8 8 83 2 , , 3 7 3 7 4 2 32,203 May 1,175,838 873,093 256,129 616,964 302,745 1,087,829 812,529 255,183 20,117 84,141 25,466 June 1,182,773 873, 791 257, 886 615, 905 308, 982 1,093,163 814,076 256, 518 22,569 85,073 28,233 July..... 1,188,885 890,807 264, 614 626,193 298,078 1,104,319 817,124 262, 511 24,684 85,686 30,170 August- 1,177,283 880,406 251, 792 628,614 296,877 1,088,821 799, 851 267, 963 21,007 83,079 36,477 September. 1,190,101 887,879 247,442 640,437 302,222 1,096,923 797,912 269,652 29,359 82,658 42,706 October 1,196,716 889,270 246, 729 642, 541 307,446 1,127, 696 831, 010 269.299 27,387 87,748 27,450 November. 1,185, 525 881,517 240,019 641,498 304,008 1,101, 565 820,175 269.300 12,090 86,418 32,462 December.. 1,176,018 879,691 239,551 640,140 296,327 1,081, 555 801,102 267,347 13,106 82,956 43,431 1924 January.. _ 1,164,656 871,577 243,077 628, 500 293, 079 1,107,100 821,438 271,379 14,283 85,708 16,587 February. 1,155,730 863, 778 243,305 620,473 291,952 1,100, 537 809,007 279,007 12, 523 84,481 9,841 to A M p a r r i c l h 1 1 , , 1 1 5 5 0 2 , , 0 0 8 1 3 6 8 8 5 57 8 , , 1 7 7 7 5 8 2 2 4 5 0 8 , , 5 5 6 0 3 3 6 6 1 0 6 0 , , 6 2 1 7 2 5 2 2 9 9 2 3 , , 9 2 0 3 8 8 1 1 , , 0 1 9 0 3 4 , , 3 2 9 0 9 7 7 80 9 4 3 , , 1 3 9 4 1 2 2 2 8 8 5 5 , ,7 8 9 6 1 2 1 14 4 , , 1 2 9 2 5 5 8 8 1 4 , , 8 5 1 4 8 7 9 8, , 9 0 7 2 4 7 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING^CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS--Continued to [In thousands of dollars] CO MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Month Reserves Borrowings Loans with Fed- rom Fed- Total Total On s t e i c e u s ri- All other I m nv e e n s t t s - Total de N m e a t nd Time Go m v e e n r t n- era b l r a e n s k erve era b l a re n s k erve 1924 May 1,149, 553 248, 030 597.568 303,955 1,106, 818 807,682 289, 997 9,139 85,688 3,908 June 1,159, 837 843,571 237,873 605, 698 316,266 1,120, 372 814,398 293,082 12,892 82,998 3,082 July— 1,205,819 872,962 253,749 619, 213 332,857 1,183, 863 851, 726 313,737 18,400 95, 548 1,381 August 1, 215, 537 892,071 263,362 628.709 323,466 1,189, 251 850,510 324,486 14, 255 91, 651 1,310* September 1,237,999 905,472 276, 224 629, 248 332, 527 1, 217, 648 864,246 329, 892 23, 510 92, 882 1,260 o October 1, 270, 644 933, 258 287, 662 645, 596 337,386 1, 259, 256 900,236 331,016 28,004 95, 179 640 November 1, 269,667 938.729 275.078 663, 651 330, 938 1, 243, 861 901, 776 323, 845 18, 240 93, 729 2,939 December 1, 251,100 931,369 284,289 647,080 319,731 1, 216, 891 878,005 316,141 22,745 8,111 1925 W January 1, 281, 854 965, 521 301,812 663, 709 316,333 1, 247,091 895, 630 324, 782 26, 679 93, 923 4,565 February 1, 277,004 965,805 305,704 660,101 311,199 1,235, 589 876, 049 336,134 23,406 91,293 6,041 March 1,278,363 964,143 305,772 658,371 314,220 1,232,097 856,456 351,512 24,129 90,389 11, 565 3 April 1,261,834 948, 363 290, 943 657,420 313,471 1, 215, 945 852, 558 345,195 18,192 89,336 18,123 May 1, 255, 501 938,086 301,325 636, 761 317, 415 1, 223, 485 862,440 350,381 10, 664 91, 264 12, 024 June 1, 288, 912 969,513 331,333 638.180 319,399 1,249,152 877, 095 363,464 8,593 95,452 16, 900 July 1,311,273 983, 947 334,331 649.616 327,326 1, 278, 501 902, 396 369, 503 6,602 95,732 17,696 August 1,306,857 977, 913 339,467 638,446 328, 944 1, 262, 907 887, 636 370, 827 4,444 95,093 24,256 September 1,306, 673 982, 992 336, 721 646, 271 323,681 1, 266, 205 888, 647 368,129 9,429 95, 583 16,477 October 1,358,100 1,012,120 327, 551 684.569 345, 980 1.313,571 930,459 374,186 8,926 96,192 22,471 November 1, 360, 213 1,024, 701 350,529 674,172 335,512 1,316,604 920,638 391,709 4,257 97,408 22,384 December 1, 362, 606 1,017,329 354, 564 662,765 345,277 1, 313, 754 901,481 397, 388 14,885 95,395 25,701 1926 January 1, 359, 789 1.008,482 355,314 653,168 351,307 1,326, 535 911. 206 395,373 19, 956 97, 580 8,602 February 1,351, 947 1,000, 765 349,511 651,254 351,182 1, 305,377 890,850 394,929 19, 598 96,255 21,108 M ar ch 1,364,616 992, 625 342,008 650.617 371, 991 1, 318,424 880,437 399,105 38, 882 95,137 14, 911 April 1,373, 204 985,074 327, 849 657,225 388,130 1,331, 806 885, 228 403, 628 42, 950 94, 254 12,784 May 1, 378,141 979,187 335,065 644,122 398, 954 1, 342, 247 891, 931 416, 929 33, 387 96,195 12,272 June 1,388, 904 991,190 341,382 649,808 397, 714 1,346,680 896,130 421, 518 29,032 96,165 11,754 July - 1,392,146 995,193 341, 769 653,424 396, 953 1,348, 216 904,815 420,133 23, 268 96,794 15,486 August 1,375, 443 989,351 338,915 650,436 386,092 1.320, 690 880,488 421, 884 18, 318 94, 372 18,576 September 1,408,923 1,016.120 371,401 644,719 392, 803 1, 351, 747 428, 975 26, 903 95, 769 31,407 October 1,430,386 1,032,018 376,076 655,942 398,368 1,388, 554 936,555 425, 950 26, 049 100,043 21,137 November 1,414, 781 1.023, 519 361,168 662,351 391, 262 1, 376, 687 935, 370 428,705 12,612 99,461 20,973 December 1,399, 416 1,006, 295 361,826 644,469 393,121 1,347, 718 906, 019 427,451 14, 248 97,185 33,831 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. ii.—REPORTING MEMBER BANKS IN BOSTON—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS' [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Reserves Borrow- Date Loans with Fed- ings from Due to Due from (Wednesday) i eral reserve Federal banks banks Total Total On t s ie e s curi- All other I m nv e e n s t t s - Total N m e a t n d d e- Time G m ov e e n r t n- bank re b s a e n r k ve 1926 Jan. 6_ 938, 762 783. 048 268, 924 514,124 155, 714 919, 416 698, 659 200, 735 20, 022 75, 678 7,812 147,150 41, 768 13 927, 318 773, 497 262, 222 511, 275 153, 821 917, 681 699.194 199, 866 18, 621 77,809 6,275 136,354 39, 355 20 926, 753 773, 544 261, 851 511, 693 153, 209 911, 378 697, 484 195, 273 18, 621 78, 685 7,160 131,517 37, 987 27 924, 259 771, 598 264, 692 506, 906 152, 661 902, 308 689, 628 194,059 18, 621 72, 765 7,920 122, 791 32, 524 Feb. 3 913, 677 763, 349 258, 323 505,026 150, 328 891, 749 680, 298 192, 831 18, 620 76, 204 10, 010 131,374 40, 618 10 929, 219 773, 847 252, 799 521, 048 155,372 896, 509 684, 640 193, 249 18, 620 77,065 27, 475 126. 873 30,126 17 _ 918,147 769, 852 258, 558 511, 294 148. 295 891, 789 677, 841 195, 328 18, 620 74,167 18, 265 128, 261 33,827 24 921, 451 769,629 263, 369 506, 260 151,822 881, 605 664, 813 198,172 18, 620 73. 823 25, 734 122, 245 36, 289 Mar. 3 918, 751 767,075 i 261, 968 505,107 151,676 896, 626 680, 505 197, 501 18, 620 74,922 18,029 130, 569 41,146 10 911,089 754,610 ! 248,084 506, 526 156, 479 890, 659 675, 854 196,185 18, 620 75, 744 3,430 127,182 30, 389 17 943, 345 753, 739 244, 207 509, 532 189, 606 921, 720 667,067 196, 343 58, 310 74,132 4,646 141, 798 38, 937 24 944, 374 756,468 241,157 515,311 187, 906 902, 776 660, 889 195, 988 45, 899 74,107 22, 605 126, 569 38,331 31 929, 737 756, 322 248,022 508, 300 173,415 897, 820 654,128 197, 783 45. 909 73, 270 18,013 125,444 40, 636 Apr. 7 940, 781 747, 976 229, 987 517, 989 192, 805 906, 787 662, 970 197,918 45, 899 71, 966 13, 648 136, 781 45,114 14 942, 293 757.811 239, 743 518,068 184, 482 926, 819 681, 962 198, 958 45, 899 75,445 12, 875 133, 859 47, 550 21 934, 680 747,876 I 239,105 508, 771 186, 804 908, 915 671, 971 199,193 37, 751 70, 789 7,750 139, 306 45, 809 28_ 939, 746 749, 993 241,107 508, 886 189, 753 917, 567 675, 056 204, 761 37,750 74,013 10, 580 130, 353 39,352 May 5 945, 359 747, 607 244, 649 502,958 197, 752 927, 908 679,100 212, 568 36, 240 76, 887 4,475 135, 463 39, 798 12 945, 350 748,171 249, 614 498, 557 197,179 933, 090 687, 489 211,169 34, 432 75. 680 6,669 130, 841 44, 265 19 945, 784 741,095 236, 520 504, 575 204, 689 925, 768 683,444 212.197 30,127 75, 766 16, 585 131,014 43,028 26___ 946, 999 742,945 248,157 494, 788 204,054 918,106 676, 677 212, 506 28, 923 75, 054 14, 710 127, 313 43, 276 June 2 955, 320 749.080 241, 224 507, 856 206, 240 929, 609 679, 250 221,437 28, 922 73, 829 9.380 126, 423 48, 431 9 _ . 955. 397 752, 702 243,135 509, 567 202, 695 924, 967 684,175 211,869 28, 923 77, 790 3,840 123, 256 34, 538 16 . 953, 692 753, 300 244, 325 508, 975 200, 392 934. 391 687, 568 217, 900 28, 923 76, 714 2,825 129, 584 47, 919 23 957, 569 758, 988 253, 955 505, 033 198. 581 932, 416 689, 430 214,063 28, 923 73, 353 6,187 121, 364 41, 750 30 960. 275 761, 208 259,124 502, 084 199,067 939, 633 704,081 210, 241 25, 311 77, 702 19,113 131, 451 48, 771 July 7 967, 026 770, 622 265, 245 505, 377 196, 404 939,010 699, 322 215, 644 24,044 74, 586 19,411 134, 243 37, 246 14 970, 595 774, 693 263, 038 511, 655 195. 902 951, 549 714, 684 214, 745 22,120 80, 058 16,008 134,168 40, 715 21 _ 946, 098 751, 068 239, 401 511, 667 195, 030 915,166 683, 752 209, 294 22,120 74, 359 9,205 128, 472 44,137 28 942, 242 747, 831 240,169 507, 662 194,411 915,490 684, 846 208, 524 22,120 76, 926 10, 950 123, 913 35, 775 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN BOSTON—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS—Continued [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Borrow- Date Loans w R i e th se r F v e e d s - in F g e s d e fr r o a m l Due to Due from 3 (Wednesday) Total Total On t s ie ec s uri- All other I m nv e e n s t t s - Total N m e a t n d d e- Time G m ov e e n r t n- era b l a re n s k erve re b s a e n rv k e banks banks > tr1 W 1926 3 Aug. 4__ 944, 901 758,334 245,376 512, 958 186, 567 907,378 673.322 211, 937 22,119 75,232 15,067 121. 783 42, 580 11__ 946, 545 762, 246 253, 444 508, 802 184, 299 911, 550 680, 486 212, 708 18,356 74,458 9,462 119, 849 35,543 18 939,894 756, 376 250,407 505, 969 183, 518 898, 448 668, 276 212, 754 17,418 72,102 22,506 119, 864 39,172 25.. 927, 404 745, 827 246, 278 499, 549 181, 577 886, 456 660, 838 212, 376 13, 242 74.235 23, 276 117, 937 37, 631 O Sept. 1 930,178 751, 303 256, 814 494. 489 178, 875 897,116 665, 258 218, 614 13. 244 73,907 28,507 116. 569 50,134 8 950, 863 772, 637 275, 072 497, 565 178.226 909,144 671, 616 224, 287 13, 241 72, 626 21, 289 120, 660 38,483 15__ 981, 265 788, 893 289, 292 499, 601 192, 372 946, 606 690,649 221, 265 34, 692 69, 298 27,157 129, 588 40,902 W 22._ 972, 525 775, 578 282,061 493, 517 196, 947 937, 724 686, 352 216, 680 34, 692 80, 428 25, 304 114, 828 33,464 29._ 988, 719 787,305 288,832 498,473 201, 414 934, 229 687, 402 212,135 34, 692 76, 722 45, 747 115, 805 38,306 i Oct. 6___ 970, 466 774, 284 277, 919 496, 365 196,182 945,105 700, 487 209, 926 34, 692 77, 730 15, 711 129,419 35,763 13 965. 788 776. 274 275,021 501,253 189, 514 932,114 689, 701 211,691 30, 722 75, 290 32, 832 124, 612 40,240 20 967, 379 779, 800 280, 234 499, 566 187, 579 946, 652 714, 221 213,126 19, 305 80, 535 10, 481 129, 644 36, 842 27 959, 511 763, 467 256,107 507, 360 196, 044 933,068 700, 782 215, 930 16, 356 76, 963 19,342 119, 588 35,087 > Nov. 3__. 958, 790 773, 806 269, 454 504, 352 184, 984 943, 317 712, 667 214,238 16, 412 77. 652 11, 255 135, 613 48,090 10__ 953, 481 773, 279 264, 400 508, 879 180, 202 939, 055 709, 288 215, 817 13, 950 77, 754 10, 375 128, 557 45, 763 17 _ 953, 380 769, 613 265,006 504. 607 183, 767 932, 268 708, 771 213, 731 9,766 79, 408 25,649 125, 640 35, 985 24_ 946, 451 763,105 263, 409 499,696 183, 346 920, 578 695, 835 215, 954 8,789 75, 745 26,180 123, 238 34,286 Dec. l_-_ 943, 929 762, 544 266, 372 496,172 181, 385 915. 919 690, 763 216, 367 8,789 76, 250 34,026 130, 794 41, 571 1 8 5 9 94 3 3 6 , , 1 8 9 2 4 7 7 7 5 5 4 6 , , 3 5 4 6 6 1 2 2 6 6 6 5 , , 2 5 9 8 6 3 4 48 8 9 9 , ,2 7 6 6 5 3 1 18 8 7 1 , , 6 4 3 8 3 1 9 9 0 24 8 , , 3 9 9 3 4 6 6 6 8 9 3 1 , , 1 8 6 9 2 1 2 2 1 1 6 5 , , 9 4 4 4 9 3 1 8 7 , . 7 0 8 96 9 7 7 6 7 , , 6 7 6 0 7 3 2 1 5 8 , , 0 5 3 3 1 5 1 1 3 2 2 3 , , 6 71 5 4 6 3 3 4 9 , , 8 91 8 6 6 tei 2 2 2 9 _ _ _ _ 9 95 4 2 5 , ,0 4 6 1 1 3 7 7 6 7 4 1 , , 3 3 6 7 1 4 2 27 7 5 8 , , 1 7 0 0 9 5 4 4 8 9 8 3 , , 2 6 5 6 2 9 1 1 8 8 0 1 , , 0 6 5 8 2 7 9 90 1 7 5 , , 3 6 6 0 2 7 6 67 8 6 3 , , 7 5 1 5 0 8 2 2 1 1 4 3 , , 9 5 5 5 4 6 1 17 7 , , 0 0 9 9 6 5 7 7 4 2 , , 0 4 1 7 1 8 3 3 0 6 , , 3 6 9 0 4 2 1 1 2 2 4 0 , , 6 8 5 5 1 1 3 3 8 4 , , 1 2 6 4 0 0 IW Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 1 BOSTON 241 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note, see p. 181] Total for 11 centers i Bangor, Me. Month 1926 1925 1924 1926 1925 1924 January 2,814, 568 2,685,491 2,189,052 14,874 14,148 14,054 February.. 2,175,114 2,157,347 1,973,432 11, 782 12,013 12,312 March 2, 606,609 2, 279,817 2,147,057 14,279 12,696 14,002 April 2,686,824 2,326,857 2,118,054 15,355 13, 604 13,074 May 2, 553, 262 2,273,167 2,052, 772 14,416 13,485 14, 217 June 2, 611, 091 2, 374,832 2,040, 544 14,704 14, 728 14, 967 July. 2, 664, 541 2,364,323 2, 111, 283 16, 711 14, 360 14,346 August 2, 209,153 2,137, 700 1, 989, 773 14,833 12, 741 13, 722 September. 2, 265, 743 2,155,120 1,974,984 14,467 14, 569 14,817 October 2,970,266 2,903,991 2,357,435 17,076 16,484 17,324 November. 2, 666, 956 2,644,630 2,252,717 16,335 13, 550 12, 691 December.. 2, 808, 774 2,711,056 2,467, 796 15, 922 14, 547 13,363 Total 31,032,901 29,014,331 25,674,899 180, 754 166, 925 168,889 Boston, Mass. Brockton, Mass.* Fall River, Mass. Month 1926 1925 1924 1926 | 1925 1924 1926 1925 1924 January 2,110. 503 2,020, 582 1, 570,205 22, 301 21, 638 20, 736 32, 565 35, 599 33, 574 February 1, 620,177 1, 604, 003 1,442,657 19,908 18, 569 20, 688 27,496 31,974 30,364 March 1,953, 565 1, 665, 560 1, 566,322 23, 598 20,138 20,909 31,366 33,979 27,680 April 2, 053, 004 1, 711,106 1, 536,266 22, 909 21, 519 21,224 28,799 32, 572 29, 625 May 1,940,115 1, 671, 678 1,476,231 22,858 20,834 21,477 27,022 30,327 27, 724 June 1, 977,197 1, 738,169 1,479, 960 27,843 21, 587 19,653 28,278 29, 590 25,296 July 2, 013, 099 1, 723,030 1, 540, 54123,114 20,215 26, 834 34,142 25,972 August 1, 647, 319 1, 569, 771 1,476, 277 21, 212 19, 741 19,513 26,079 26, 532 26,936 September 1,698, 318 1, 593. 918 1,450,972 20, 747 21,354 19,317 26,458 28,286 24,893 October 2, 272,387 2,206; 407 1, 710,365 25, 511 26,157 24,248 32,234 41,189 33,296 November 2,031,005 1, 991,964 1, 688,539 25,936 24,778 22, 761 37,640 40, 571 December 2,133,355 2,004,167 1,830,484 23, 590 22,278 21, 548 30,297 36,436 35,174 Total 23,450,044 21, 500,355 18, 768, 819279, 527258,808 250,943 |355, 068401,197 358,802 Hartford, Conn. Hoi yoke, Mass. Lowell, Mass. Month 1926 1925 1924 1926 1925 1926 1925 1924 January 160,854 133,122 136, 347 17,122 18,101 17,066 20, 028 19,295 21.470 February 130,987 111, 992 109, 098 14,194 14,719 13,960 16,390 17,024 19,006 March 152, 628 123,751 122, 997 16,331 16, 272 14,366 20,072 19,371 19, 910 April 144,238 124, 202 127,133 15,850 16,023 15,636 20,956 21,475 18, 585 May 138,930 122,985 119, 506 15, 549 16.014 15,474 19,503 19,899 17,376 June 149, 976 137,210 119,408 16,025 16,708 14,903 21,018 21,332 18,053 July 148, 973 140,401 130,662 16, 532 17,048 16,391 22,208 20,152 18,073 August 126, 221 120,969 104, 584 13,976 15,422 14,382 18,956 19,341 15,618 September 121,905 118, 759 110,365 13,821 16,003 11, 766 19,188 18, 852 14,317 October. 133,472 138, 866 130,965 16,182 18.015 17,005 22,720 23, 858 22,429 November 127,178 135,724 110, 806 19,954 17, 617 14,898 22,996 24, 762 23,374 December 146,261 156,913 126, 683 20,799 17,247 16,417 23,372 23,782 22, 731 Total 1, 681,623 1, 564,894 1,448,554 196,335 199,189 182,264 247,407 249,143 230,942 1 Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

242 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Lynn, Mass.* Manchester, N. H." New Bedford, Mass. Month 1926 1925 1924 1926 1925 1924 1926 ; 1925 1924 January 33,753 29, 774 25, 705 20,661 18, 384 18,492 32,008 34,491 31,810 February... 28,501 24,889 21,657 15,629 15, 225 16, 785 26,947 31,391 30,165 March 31,157 27, 714 23,170 17, 510 16,219 18, 707 30, 533 35,186 29,826 April 32,464 28,493 26,720 18,185 16,744 21,305 31,541 35,959 28,405 May 31, 266 26,816 27,006 18,075 18,394 18,799 30, 507 31,919 29,444 June 31, 761 30, 596 25,088 17,462 18,285 16,842 30, 807 31,275 26,195. July 34, 448 31,265 28, 859 18,510 21,944 17,533 28,960 31,695 27,081 August 29,310 28,821 25,909 14,823 17, 586 15, 538 26, 594 28, 889 27, 515> September.. 31, 994 29,397 26,496 14,671 16,344 15, 654 25,141 28,631 27, 869* October 35, 514 36,130 33,256 17,239 20,427 16, 761 32, 741 39, 733 35,404 November.. 34, 275 31,201 28, 538 15, 440 18,041 16,475 34,288 38, 714 35,491 December.. 32,912 33,965 28,377 22,117 29, 454 20,629 29,882 35,638 3 l& Total. 387,355 359,061 320, 781 210,322 227,047 213, 520 I 359, 949 403,521 365,718: New Haven, Conn. Portland, Me.* Providence, R. I. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 104,994 93, 435 45,195 43, 373j 41,185 189,317 185. 807 160,149 February 85,929 85,317 82,096 38,187 36, 307 36,404 142,612 152,566 142, 806 March 106,706 99,132 94,771 45,125 41, 487! 40,452 160,075 162, 370 150,369 April 99,611 92, 688 87,256 43,440 41,618 38,700 161,497 163,297 150,774 May 98,182 93,231 93, 292 47,864 43,108 39,290 157,701 161,732 155, 54» June 99,979 100,397 88,674 47,665 45,843 I 38,316 157, 490 164,822 144, 311 July 106,332 104,024 95,856 50, 379 44,925 ! 41,306 161,670 161,861 137, 78» August 96. 564 93,229 82,840 44,849 46, 753 39,198 133,876 147,586 133,45S September 97,305 92,281 89, 847 46,415 45, 418 40,036 142, 614 145, 597 132,82a October 105, 323 107,449 98, 771 54, 661 52,344 45, 304 210, 810 181, 957 174,661 November 97,020 96,983 83, 322 46,841 45, 958 40,401 163,842 172, 673 146, 825- December 107,867 100,974 96, 867 50,039 48,018 45,134 176,621 183,667 174,966- Total 1,205,812 1,164, 3911.087,027 560,660 1535,152 ;485,726 1,958,125 11,983,935 1,804,466 Springfield, Mass.* Waterbury, Conn. Worcester, Mass. Month 1926 1924 1926 1924 1926 1925 1924 January 88,566 85,716 73,450 45,378 45, 601 36,300 86,925 80,059 74,642: February.. 71, 854 66, 532 68,276 32, 884 31,322 26,281 65, 716 65,026 64, 687 March 85,077 74,930 71,889 41, 762 37,150 36,043 79,292 74,350 70,771 April 85,929 82,431 78, 702 39, 572 38,157 37, 586 76,401 77, 774 73, 714 May 82,415 79,189 73,946 36,912 37,182 33,193 74,425 74, 715 70, 766* June 83,903 82,438 74,941 39, 762 41,278 35,997 75,855 79, 323 72, 780 July 84,934 86, 828 78,448 39,211 38, 223 33,453 84,011 79, 387 71,12& August 75,342 71, 678 66,271 35,894 32, 871 28, 740 68,841 70, 349 65, 706 September. 78,644 74,952 63,632 37,554 27,869 31,036 68,972 70,355 66,279 October 88,143 97, 621 83, 763 41,034 38, 909 35, 653 86,287 91,124 81, 562 November. 91, 945 89, 555 80,341 37, 438 38, 213 29, 772 79,260 73, 859 68,731 December.. 86, 853 85, 785 82,474 41,458 47, 755 38, 505 82,940 89, 930 76,093 Total 1,003, 605 977, 655 896,133 468, 859 454, 530 402, 559928, 925 926, 251 856, 859 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 1 BOSTON 243 No. 16.—MONEY RATES X IN BOSTON [Rates prevailing during week ending with 15th of month] Loans secured by Month c l o P o m c r a i i n m a m s l e e 2 r- I l b n o a t a n e n k r s - p ch ri a m ng e e s c t o o l c l k at e e r x al - L c h u o o w r u a e a s n d r e s e r b - s e e y - - C lo a a t n tl s e Demand Time ceipts 1926 January February. _ March April May _ 4-5 June 4-4H July August 341J September. 4^-434 5' October 5 November _ December.. 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90-day loans beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. 3 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2—NEW YORK No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 282, 987 329,996 384,307 583,625 Gold redemption fund with United States Treasury 15,198 13, 516 11, 557 9,441 Gold held exclusively against Federal reserve notes 298,185 343, 512 395,864 593,066 Gold settlement fund with Federal Reserve Board 223,475 254,227 286,475 109,814 Gold and gold certificates held by bank 439,892 331,226 277,263 168,615 Total gold reserves 961, 552 928,965 959,602 871,495 Reserves other than gold 22, 524 27,256 21,868 24,437 Total reserves _ 984,076 956,221 981,470 895,932 Nonreserve cash _ _ 15,894 16,967 18, 517 11,846 Bills discounted: Secured by United States Government obligations. 146, 539 197, 709 68, 745 136,175 Other bills discounted _ 37,936 35,235 12, 577 28,360 Total bills discounted 184,475 232,944 81,322 164,535 Bills bought in open market 101,443 42,020 101,823 93,151 United States Government securities: Bonds ..._ 1,364 1,934 12,440 6,202 Treasury notes 11,646 43,125 120,495 29,972 Certificates of indebtedness _ 45,854 12,140 36, 963 10, 582 Total United States Government securities 58,864 57,199 169,898 46, 756 Foreign loans on gold __ 2,106 1,746 Total bills and securities 344, 782 334,269 354, 789 304,442 Due from foreign banks 657 641 641 702 Uncollected items.. __ .. . . _ _.. 188,450 170, 993 156, 377 115, 065 Bank premises. 16,276 16,617 16,243 13,298 All other resources 1,131 3,521 8,016 365 Total resources 1, 551,266 1,499,229 1, 536,053 1,341,650 LIABILITIES Federal reserve notes in actual circulation 416,874 393,037 387, 353 420,371 Deposits: Member bank—reserve account _ 835,960 847,249 883,861 712,858 Government 498 3,183 16,904 9,562 Foreign bank 25,915 2,221 17,425 2,964 Other deposits 8,929 9,061 10, 770 9,442 Total deposits _ 871,302 861, 714 928,960 734,826 Deferred availability items 162,885 150,263 129,055 95, 342 Capital paid in 36,449 32,395 30,167 29,439 Surplus 61,614 59,964 58, 749 59,929 All other liabilities _. 2,142 1,856 1,769 1,743 Total liabilities 1, 551,266 1,499,229 1, 536,053 1,341, 650 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 76.4 76.2 74.6 77.6 Contingent liability on bills purchased for foreign correspondents 18,470 19,000 12,421 6,572 244 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTBICT NO. 2—NEW YORK 245 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Fed- Date Total c U G e u S b r o . r e n y S e v - - . d - i O o b d t i u i h l s n l - e s t r - b m o B o a p i u i n r l e g k l n s h e t t U s S e t n t c i a e i u t t s e r e i s d - l F g e o o i o o a g n l r n n d - s re T c s o e a r s t v a h e l s r b M p e a b s o d n e e e s e m k r r i - v t s - s 1 e p T o d o s e t i - a ts l r l c e n a e s i o i t r r e n i c t a r o e u v l n s - e s c p a R e e g e r n e v e r - - t s e ment ed >bligations 1926 Jan. 6... 263,358 181,307.57,959 23,348 27,127 52,899 2,025 1,013,197865, 725 8865,,296 378,721 80.1 1 20 3 — ... 2 1 5 9 2 5 , , 0 18 4 2 5 1 1 7 1 1 8 , ,9 5 1 5 8 9. 8 3 9 7 , , 3 9 2 6 6 1 3 29 3 , , 5 5 9 9 8 2 2 2 5 1 , , 8 7 4 6 7 0 5 5 2 2 , , 7 7 4 4 9 9 1 1 , ,755 1, 0 0 3 68 9 , , 7 5 1 6 2 7 0 8 8 Q8^ 6 7, L ! , 1 1 3 0 1 91 |8 9 7 0 9 3 , , 2 84 7 4 0 3 3 6 6 »7 3 7t , , 6 6 5 0 7 0 8 8 1 6 . . 8 0 27... 186, 785 105,796 85,976 19,820 26,485 52, 749 1,, 755 1.054,927 8391;,680 55,872 360,393 86.7 Feb. 3.._. !52,357157, 528.37,173 20,355 36,852 56, 249 1,728 1002,335838, 748362,670 366,127 81.6 10..- 295,856 188,644.55, 601 33,043 52,492 52, 749 1,971 988,275862,032382,787 369,580 78.9 17 328,756 200, 615.66,223 34,392 72, 502 53,749 1,890 951,024 876,182394,208 365,473 75.5 24— 336,943 200,960.59,628 41,332 73,420 60, 646 1,91' 926,890 853,125367,0351366,888 75.1 Mar. 3.... 296, 5721172, 576.31, 791 40,785 67,263 54,349 2,384 969, 833856,855371,960 371,283 78.0 10.— 288, 866 156,01815,039 40,979 "), 140 61,297 2,411 974, 019852, 587364,464 371,325 78.8 17 _297,847 104,190 76,332 27,858 57,410 134,137 2,110 973;, 629 ~8~67",825 379,620 371,788 77.8 24 266. 768 147, 66610,651 37, 015 62,821 54,089 2,192 039J 076 886', 287 9>0055,',864 369,886 81.4 31.— 270,139|l49,725 00,987 48,738 54,465 2,329 049,999 9025, ,0—77 11"6,060 371,983 81.5 Apr. 7.— 259,670 .55,184 06,406 48,778 44,187 57,888 2,411 , ooi, 03:839, 003356, 596 369,838 81.6 14 320, 765 .60,627 28,342 63,43" 65,975 2,384 ,001,, "8"60 9221,,827936,272 366, 065 76.9 21.. 163,566 61,228 37,475 23, 753 26,086 73.868 2,384 , 067,608 825.;,558345,781 363,393 88.3 28.. 236,227 .40,636 .12,319 28, 317 19,504 73,868 2,219 , 043,984 874:,, 771388,704 361,438 83.5 May 5.. 307,258 L66,176L38,038 28,138 58,25' 80,770 2,055 968, 297 851,821870,481369,3221 78.1 12.. 256,403 L07,045 84,204 22,841 70,181 77,149 2,028 ,002,032 r843,694 861,338 367,812 81.5 19.. 269,536115,289 95,695 19,594 74,353 77,866 2,028 , Oil, 165853,106867, 059 382,085 80.9 26-. 248,008104,492 74,078 30,414 65.392 76,096 2,028 , 057,998 86:2,475376,122 392,001 83.4 June 2.. 308,285158,140120,894 37,246 66,993 80,713 2,439 , 025,830 888,132397,503 405,551 78.7 9_. 266,072114,013 74,650 39,363 65,898 83,859 2,302 ,046,533 863,300374,734 401,771 82.0 16.. 273,484 67,066 45,727 21,339 44,070 160,293 2,055 ,044,629 897,555 990099'^,451403,220 79.6 23.. 234,603 92,265 65,706 26,559 61.393 79,109 1,836 , 081,471 864,550880,897 400,027 84.4 30.. 242,118 .02,489 75,581 26,908 55.553 82,569 1,5071,092,220 867,421 883,096 408,673 84.6 July 7.. 367,648 238,003174,441 63,562 52,420 75,882 1,343 982,586 889,,981905,940! 411,903 74.6 14.. 286,9301 104,970 40,552 49,162 91,369 877 010,106 860,862,873,,855Jj,397,849 79.4 21. 242,449 83,394 42,990 3i, 024 84,219 82: 037,827 884422,55998 856,648'393,791 83.0 28.. 258,506 150,838108,634 42,204 33,443 73.869 356 041,085 852,065 868,733,390,959 82.6 Aug. 4 274,854 166,228129,24' 34,75' 73,869 1.024,023 848,810 868,107 394,, 101 81.1 11 299,921190,253 14"81^,026 42,227 37,066 72,602 1001,588 859,026 87'22,,714 387,921 79.5 18 254,851 145,911107,289 38,622 38,273 70,66" 024,983 843\,,229922 8551,,457 388,813 82.4 25 .244,174 140,059 95,636 44,423 43,849 60,266 1,019', 276815,748 834,582 384; 433 83.6 Sept. 1 270,147 176,243126,242 50,001 33,191 60,713 041,898 864,941 883,566 389,097 81.9 300,053 192,608 144":,, 11248,496 46,031 61,415 990,229J841,022 856,310 393^ 378 79.2 15.. 370,112146,397 "i, 76747,630 37,63 186,084 011,885 941,795 971,201380,992 74.8 22.. 289,731188,852119,440 69,412 45,915 54,964 013,659 857,977 901', 8,"3"5 373,635 79.5 29.. 304,872 197,640136,235 61,405 51,172 56,060 010,068 862,528 892,937 374,187 79.7 Oct. 6_. 243,471151,863 52,923 37,024 54,584 994,355j812,633 827,359 378, 506 82.5 13.. 313", 848 204,27f126,364 77,906 53.554 56,024 976,3291833,514 8r~5~5; 603 381,742 78.9 20.. 220055,, 574 109,08978, 595 30,494 42,401 54,084 , 037,168 825,668800 840,983 373,791 85.4 27.. 2-"34',6 ~6"2! 132,34789,586 42,761 48,23: 54,084 023,929 834,998844 853,435 372,362 83.5 Nov. 3.. 297,77'172,403113,546 58,857 71,29C 54,084 980,241 818,164 839,776 384,573 80.1 10.. 234,163116,038 67,152 48,886 64,04 54,084 043,253 839,261 856,021 378,072 84.5 17.. 225,100 90,233 61,119 29,114 74,362 •0,505 072,769 853,123 872,194 391,141 84.9 24.. 275,875148,97f 100,823 48,149 72,456 54,447 015,732|832,128 849,496 395,253 81.6 Dec. 1. 1,488140,11: 85, 56' 54,544 108, 51! 59,851 1,027,844 885,564 901,669 390,534 79.5 8.. :, 076 160, O1H24,12 35,891123,665 70,395 972,825J877,443 893,662 389,616 75.8 15 |422,813 100,02S 84,64C 15,389 109,189 213,595 976,219 946,457 961,520 403,856 71.5 22 351,321174,24- 146,971 27,2733113,61) 63,459 1,010,266J867,061 904,713 421, 548 76.2 29 339,793 173,65£123,873 49,782100,04J 66,09! 1,032,281 886, 285 928,491 408,621 77.2 Daily average: 1926 _277,606 152,71' 55,87! 67, 88< 1,1251,, 006,720 840, 553860,232386,849 80.7 1925 287,280151,19C 47,749 85,79S 2,549 949,646 828,768855,3322f9 351,207! 78.7 1924 233,309 65,80S 48,084 119,175 963, 519,783, 731808,909 353,0501 82.9 1923 262,812187,282 47,970 27, 56C 1,013,732 689,362713,488 519,435! 82.2 38494—27- -17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Month p d u is T r a c c o n o h t d u a a n s l e ts s Bi T ll o s ta d l iscoun c t M e o d n b l e l o a m a f t n o t e e b k r s r e a m r l emb c e K o r b u e i b n d l a l t i s e s n - d ks T B o i t l a ls l boug o B h u o t tr u i i g n g h h o t t pen W m m a it e r h k n e t re t - F b r b e o e f o B a r s d t u o h e i n e l m g r e k l r v s h r a s e t l U T . o S ta . l securit m o i B e u a s o t r r u b k i g o g et h u h t g t2 ht in a r m W o e g s p e r i a e n e t l e h n t e - s F e b r b e o c e U f o a s r u d t u o h e . n r e S g m r i e k r t v . h r a s i e e t l s l F o o a g r n o e s l i d g o n n d I 1926 January _ 1, 592,347 1, 529,689 1, 520,411 9,278 57,714 20,461 37,253 3,002 1,888 1,888 54 February 1,909,368 1, 746, 766 1, 736, 542 10,224 124,932 18,429 106,503 13, 615 21, 458 21, 458 2, 597 A M p a r r i c l h . 1 1 , , 9 6 3 4 6 0, , 9 2 6 9 1 0 1 1, , 2 4 6 8 8 5 , , 7 4 9 4 8 2 1 1 , , 4 2 7 6 9 0 , , 7 5 6 5 9 7 8 5 , , 2 6 4 7 1 3 1 1 0 0 8 1 , , 0 1 9 9 9 7 1 7 9 , , 1 2 9 7 6 1 1 8 0 1 0 , , 9 9 2 0 6 3 2 1 6 1 , , 6 0 2 0 9 8 5 2 3 0 2 , , 8 8 6 9 0 1 51 16 0 , , 7 2 6 9 0 1 2 4 2 , , 1 6 0 0 0 0 21, 560 5 19 7 2 5 c May 1, 597, 224 1, 377,695 1,370,694 7,001 191,061 21,145 169,916 4,011 19, 472 1,272 18,200 2,519 2,466 J Ju u l n y e 1 1 , , 4 9 2 5 6 6 , , 6 3 1 1 4 7 1, 9 8 0 1 3 0 , , 6 7 8 9 3 7 1, 8 7 9 9 6 6 , , 4 6 4 3 9 6 1 7 4 , , 2 1 3 6 4 1 1 9 31 0 , ,4 7 8 6 7 3 1 14 6 , , 1 2 6 6 5 6 1 7 1 4 7 , , 4 3 9 2 7 2 2 1 5 5 , , 5 5 5 4 0 5 4 3 1 4 4 , , 4 2 8 3 5 6 391 4 , , 9 4 8 1 6 0 2 23 9 , , 0 2 7 5 5 0 4 1 , , 9 00 4 1 6 3 1 0 3 1 7 W August 1, 702, 959 1, 614, 477 1, 605, 759 8,718 62, 473 29, 762 32, 711 9,002 13,050 13, 050 3,957 September _ 2, 072, 059 1, 746,477 1, 732,002 14,475 90,322 20, 502 69, 820 9,028 226, 232 212,187 14,045 October 1, 256,197 1,146, 766 1,137, 025 9,741 88, 327 29,284 59, 043 8,200 12,904 2,374 10, 530 November _ 1, 292,132 1, 058,923 1, 051, 687 7,236 171,417 28, 261 143,156 10,133 51, 659 23, 553 28,106 December.. 2,106, 789 1, 552, 835 1, 545, 226 7,609 219, 773 35, 655 184,118 7,858 326, 323 279, 528 46, 795 Total: 1926 20, 539, 257 17, 242, 348 17,132, 757 109, 591 1, 437, 565 260, 397 1,177,168 143, 581 1, 675,458 1,442, 361 233,097 33,983 6,322 1925 19,905, 536 17, 067, 799 16,931, 399 136,400 1,160,605 185, 742 974, 863 5,371 1, 658,433 1,141, 218 517, 215 1,039 12,289 1924 9, 449,824 7, 030, 842 6, 522, 347 508, 495 1, 077,399 1, 077,399 2,785 1, 304,131 1,159, 604 144, 527 27,621 3 7,046 1923 20, 829 284 17, 951, 843 15,945,969 2, 005, 874 1,177, 647 1,177, 647 9,008 1, 678,112 865,508 812,604 12,674 1 Includes bills payable in foreign currencies as follows: 1926—$1,125,000, 1925—$1,013,000, and 1924—$2,708,000. 2 Includes special temporary certificates received from the Secretary of Ihe Treasury as follows: 1926—March $478,000,000, June $368,000,000, September $1S1,OOO,COO, and December $228,000,000; 1925—$1,060,000,000, 1924—$878,000,000, and 1923—$758,000,000. 3 Includes $5,300,000 df Federal intermediate credit bank debentures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

247 DISTRICT NO. 2 NEW YOEK No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Month ne C ct o ic n u - t 1 New York Je N rs e e w y J Total Number N ac u c m om be - r at end of modated month2 during month 1926 January 1,525 1,480,145 48,019 1,529, 689 881 359 February.- 2,775 1,690,539 53,462 1,746, 766 883 368 M arch 1,200 1,178, 641 88,957 1,268, 798 883 401 April _____ ___ __-_- 1,145 1,421,747 62, 550 1,485,442 889 392 May _ _ _ _ 630 1,322,892 54,173 1.377,695 894 387 June 300 796,004 107,379 903,683 895 420 Julv - _ - 1,600 1, 744,716 64,481 1, 810,797 902 357 August 220 1,547,281 66,976 1,614,477 906 326 September 595 1,681,310 64,572 1, 746,477 907 342 October 500 1,040,120 106,146 1,146,766 908 367 November . 2,410 910,303 146,210 1,058,923 911 362 December __ _.. 1,990 1,474, 730 76,115 1, 552,835 913 405 Total: 1926 14,890 16, 288,428 939,030 17,242,348 1925 _ 8,193 16, 522,907 536,699 17,067,799 1924 6,615 6, 653,107 371,120 7,030,842 1923 12,484 17,408,097 531, 262 17,951,843 Number of member banks at end of year:2 1926 12 655 246 913 1925 11 636 233 880 1924 11 632 216 859 1923 12 620 207 839 Number of member banks accommodated during the year: 1926 9 429 165 603 1925 . .. 8 438 154 600 1924 9 436 148 593 1923 10 433 147 590 * Figures relate only to that part of the State located in the New York district. s Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

248 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 EARNINGS Discounted bills__ $5, 836, 836 $5,188, 506 $2,613, 566 $8,255,646 Purchased bills 2, 001,668 1,469,858 1,446, 693 1,969,837 United States securities 2,379, 546 2, 984, 698 4,165,856 1,087,251 Deficient reserve penalties _ _ 45,386 33,422 24,974 40,800 Miscellaneous 337, 532 540, 690 318,261 59,649 Total earnings __ 10,600,968 10,217,174 8, 569,350 11,413,183 CURRENT EXPENSES Salaries: Bank officers 476,883 455,150 479, 542 469, 328 Clerical staff 3,033.763 3,103,706 3,412,141 3, 873,284 Special officers and watchmen 168,176 147, 654 166,462 193, 627 Allother _ _ _ __ 500,347 475,405 371, 699 312,456 Governors' conferences 511 403 504 758 Federal reserve agents' conferences. 106 126 98 332 Federal Advisory Council 566 479 550 657 Directors' meetings _ 18,101 17, 992 21,460 21, 664 Traveling expenses 1 34,601 28,143 27, 660 28, 320 Assessments for Federal Reserve Board expenses 199,090 191, 729 179,201 190,846 Legal fees__ _ 16, 218 10,125 7,115 586 Insurance (other than on currency and security shipments) 57, 371 66, 081 58, 602 65,411 Insurance on currency and security shipments 122, 914 118,199 115, 656 98,065 Taxes on banking house 388,988 418,128 116,643 31,882 Light, heat, and power _ 79,117 95,679 47,284 20,131 Repairs and alterations, banking house__ 32,337 25, 513 4,640 1,700 Kent _ _ _ 25, 344 26, 918 268, 687 341, 786 Office and other supplies. 95,830 101,810 111,227 88, 308 Printing and stationery 69,120 74,747 78,258 86, 523 Telephone __ . 50, 659 51,071 51, 346 46,837 Telegraph 55,826 64,277 65,413 65,172 Postage 286,871 286,454 270,178 248,052 Expressage 106,672 95,095 91,464 85,492 Miscellaneous expenses __ _ 172,049 151,687 156,113 110,942 Total, exclusive of cost of currency.. 5,991, 460 6,006, 571 6,101, 943 6, 382,159 Federal reserve currency, including shipping charges: Original cost 407,841 280,276 195, 550 421, 229 Cost of redemption _ 22,141 38,355 53, 328 76,748 Total current expenses _ 6,421, 442 6,325,202 6,350,821 6,880,136 PROFIT AND LOSS ACCOUNT Earnings 10, 600,968 10,217,174 8, 569,350 11,413,183 Current expenses _ 6,421,442 6,325,202 6,350,821 6,880,136 Current net earnings 4,179, 526 3,891, 972 2,218, 529 4, 533,047 Additions to current net earnings._ 174,366 4,976 176,240 1,697 Deductions from current net earnings: Bank premises—depreciation _ 415,492 522,269 910,440 1,235,937 Furniture and equipment ... 122,943 199,261 536,776 58,021 Reserve for self-insurance. 59,845 57,320 55,197 52,756 Allother. .__. _ 5,864 14,800 275, 504 144,351 Total deductions.__ __ 604,144 793,650 1, 777, 917 1,491,065 Net earnings available for dividends, surplus, and franchise tax. 3,749,748 3,103,298 616,852 3,043, 679 Dividends paid __ _ 2,100,191 1,888,196 1, 796, 530 1, 749,239 Transferred to surplus account , 1,649,557 1,215,102 2 1,179,678 129,444 Franchise tax paid United States Government 1,164,996 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries _ _ 12,900 14,935 38,424 128,106 Allother-- _ _ _. 2,290 3,609 10,045 293,985 Total.. _ 15,190 18,544 48,469 422,091 1 Other than those connected with governor^ and agents' conferences and meetings of directors and of the Advisory Council. 2 Deficit in earnings after payment of dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2 NEW YORK 249 No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications _ 16,249 15, 528 12,452 17,418 Notes discounted _ 35, 660 36, 272 39, 622 72,177 Bills purchased in open market for own account _ 76.466 63,037 61, 453 75, 701 Currency received and counted 605, 280, 000 554,123,000 512, 097,000 477, 257, 000 Coin received and counted 1,129, 027, 000 981, 654, 000 917,181, 000 816,128,000 Checks handled _ 155,488,000 143,175, 000 136, 853, 000 129,130, 000 Collection items handled: United States Government coupons paid __ 10, 783, 000 12,156,000 14, 055,000 17, 684, 000 All other 2,064, 000 2, 040,000 2,429,000 2,177, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department _ 1, 572,000 2, 048,000 4, 009, 000 1 13, 541,000 Transfers of funds _ 329, 000 294, 000 293,000 284,000 AMOUNTS HANDLED Bills discounted $17, 242, 348, 000 $17, 067, 799, 000 $7,030, 842,000 $17,951, 843,000 Bills purchased in open market for own account 1, 437, 565, 000 1,160, 605, 000 1,077, 399,000 1,177,647,000 Currency received and counted 3,925,170,000 3, 539, 722,000 3,177,027,000 3,006,283,000 Coin received and counted _ 380, 569, 000 268,129, 000 114,281,000 125, 506,000 Checks handled 93,068, 875, 000 88, 241, 217,000 68,678, 871,000 65, 805, 632,000 Collection items handled: United States Government coupons paid _ 296, 577, 000 311,647,000 332, 369,000 337, 344, 000 All other 2,065, 742,000 2,085,032,000 1, 873, 743, 000 1,920, 719,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 2, 635, 722,000 2,960, 523, 000 3, 526, 342,000 3,168,654, 000 Transfers of funds 44, 392, 474,000 38,821, 282,000 35,182, 641,000 28,031, 500,000 1 Large total due to redemption of war-savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] Month m m It e e e o m m m w b b s n e e d r r d r i a b a s n a w tr d n i n k c n t s o o i n n n - I r a t e o e n s n m e d r F s v b e e r d d a r b e n a r a c w a n h l k n F I t t h e e e b e d m d i a e r n r s t a b k o l f s r o o a r a r n e t w n h s c e e d a h r r r e v d s e - I S t t o e a n m t e u s U s r n e d T r i r r t a e e w a d s n - Total i Num- Num- Num- Num- Number A mount ber Amount ber Amount ber ber Amount 1926 January 10, 588 5, 087, 339 59 2,616,641 1,485 166, 203 422 83, 615 12,554 7.953, 798 February 9,108 4,080, 596 53 1,881,175 1,342 137,140 388 70,107 10,891 6,169,018 March 11,381 5, 084, 200 63 2,504,226 1,573 172, 427 481 193,428 13,498 7.954, 281 April 11,086 4,919, 581 55! 3,538,891 1,429 156, 677 547 13,117 8, 714,003 May 10, 531 4,654,194 2, 795,114 1,324 150,647 492 92,110 12,406 7,692,065 June 11, 500 5,187,480 3,219,211 1,348 152,901 462 102, 816 13, 3678, 662,408 J A u u l g y u .. st-. 1 1 1 0 , , 5 7 8 3 7 2 4 4 , , 9 5 0 3 3 3 , , 7 0 9 1 0 8 2 2, , 1 6 1 36 8 , , 7 7 5 7 5 8 l' 138 1 1 4 4 6 0 , , 7 8 5 9 9 3 4 4 5 7 9 5 7 77 8 , ,3 3 5 4 9 2 1 1 3 2 , , 3 3 9 8 7 7 6 7, , 7 8 6 7 5 0 , ,0 68 0 6 8 September 10, 635 4,699,164 2,106, 794 1,194 150,061 524 100, 584 12,404 7,056, 603 October _. 11,395 5,043, 772 2,678, 285 1,422 171,029 588 89, 689 13,454 7,982, 775 November 10,992 4, 815, 886 3,009,807 1,358 163,459 557 80,805 12,958 8,069,957 December 12, 362 5,412, 569 2,317,112 1,542 172, 521 513 122, 824 14,470 8,025,026 Total: 1926... 131, 897 58,421, 589 0131,422, 789 16,438:1,880,717 5,908 1,190, 533 154,903 92,915,628 1925...2 119,764 2 84, 868,480 (3) 17,1421,958,284 5,616 1,186, 596 142, 522 88,013, 360 1924...2 107,278 2 64,987,977 17,5512,044,836 11,336 1, 364,921136,165 68,397, 734 1923... 2 98,017 2 61,983,112 17, 254 2,142,648 13,125 1,392,272 128,396 65, 518,032 i Exclusive of duplications on account of items handled by both parent bank and branch, * Includes items drawn on Federal reserve bank and its branch, separate figures not being available. 8 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

250 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] p t F a r o b T e y e a s o d m o e n t e t r h e k a r v l n e a s e r l ts r F r e T e o f e c r s t d o o e h e e t i m r e a p r v r l a t e s l N lo e s t s g N a e in t banks |. Jan. 6(5days)__j 585,672 617,! 1,106| 650; 1,000!. 587, 778] 618, 618 i 30,840 13 712,842 714, 764 2,803! 2,680 I 3,000 715, 645! 720, 444 I 4,799 20 j 685,819! 710, 781 2,481 6,605! 2,000L 690,300 i 717,386 i 27,086 27 . j 664, 835| 667,511 2,291 3,374 ;. 667,126! 670,."" 1 3, 759 Feb. 3 i 693,660 650,842 1, 628| 2,9111 3,000|- 653,753 44.535L 10.. ' 590,410) 577, 266 1, 4601 3,000;. 591, 8701 580,266 11,604!. 17- 577, 708; 544,576 1,454| 2,489!. 579,162! 547,065 32,097. 24.. 548, 293 541,305 1, 649j 815J. 1, 000! 549,942| 543,120 6,822L Mar. 3.. 669,541 712, 260 1, 947i 5,307!. 3,000 671,488; 720,567 I 49,079 10.. 657, 896! 645, 727 1,636 l 659, 532! 648,638 10,894; 17.. 857,623! 694, 609 1, 760! 3,525! 2001110,500J 859,583! 838,634 20,949! 24.. 740, 284 696, 821 1, 652! 585! (118,000 741, 936: 815,406 j 73,470 31.. 721, 579 741,195 1,919 3,498' j 7,000 723,498; 751,693 ! 28,195 Apr. 7.. 792, 500 712,856 1,420 6,255! : 2,000 793, 920: 721,111 72,809! 14.. 704,627i 702,933 1,5571 i i 3,000 706,184! 705,933 251; 21.. 730,431! 768,461 1, 685! 3,153i I 19,000 732, lie; 790,614] i 58,498 28- 697, 887j 686, 089 2, 8291 445! ! 500| 700,716: 687,0341 13,682;.. May 5.. 705, 610! 634,837 7,871! | 2,000 707,487! 644,708! 62,779! 12__ 606,686 639, 567 2,349 1,320] ! 609, 035! 640,887 ! 31,852 19.. 697, 598 678,947 1,829 4,595! i 13,000 699, 4271 696,542! 2,885! 26- 591, 585 630,960 2,444 1,194; i 594, 029; 632,154! I 38,125 i 1 June 2.. 628,977! 606, 561 2,546 3,797! 631, 523! 610,358J 21,165^ 9_. 634,435 641, 561 2,133 4,515i 16,600! 9,500; 653,168; 655,576! ! 2,408 16.. 743, 287 751,901 2, 704J 2,362! 36, 500! 15,0001 782,491! 769,263| 13,228! 23.. 744,950 686, 523 2, 348! 5,200! 92,500! 752,498; 780,519! 28,021 30.. 786, 719 776, 590 2,390| 8,700; 35,700! 797,809! 815,918! ! i ! 18,109 July 7.. 703, 224 611,971 2,624 2,490! 3,500 709,348! 614,46ll 94.887! 14. 642, 656 656, 749 2,514 3,4031 1,000 4, 500 646,170! 664,6521. __'__„ I 18,482 21.. 679, 095 713,631 2, 616j 2, 435i 681,711 716,066 I 34,355 28.. 682,204. 682,939 3,159 4, 850| 1 2, 500 687,863! 687,7891 74| Aug. 4.. 718, 583 717,232 2,216 5, 129i ! 720,799| 722,361 1, 562 11. 624, 354 602,971 2, 527 2,199j 2 3, 500j 11, 000 630,381! 616,170 14,211 18.. 623,151 653, 787 2,944 2,675' 1 4,000 626, 095 660, 462 34,367 25.. 681,065 636,876 2,760 3,680 j 30,000 683,825 670,556 13, 269 Sept. 1.. 580, 588 612,494 2,71 4,432 ! 583,348 616,926!.. I 33,578 8_. 542,555 496, 227 1,994 1,770 19,000J 12,200 563,549 510,1971 53,352. 15.. 630,513 651, 006 3,117 6,249 16,600! 12,100 650,230 669,355i. 19,125 22.. 778,384 723, 120 2,845 730 2,600! 67,000 783,829 790,8501. 7,021 29.. 660,818 669,276 3,601 8,887| j.-_- 664, 419 678,163! I 13,744 Oct. 6.. 784,615 776,289 2,831 4,735! 787,446 781, 024 6.422L 13.. 623, 515 594,984 2,718 2,170 I 3,000 626, 233 600,154 26,079. 20.. 832, 680 868, 679 2,805 3,648 ! 16,000 835,485 888,327 _! 52,842 27. 829,737 822, 780 2,735 4,798 832,472 827, 578 4,8941. j Nov. 3. 629,618 600,213 1,714 2,8601. 631,332 603,073 28,259!. 10. 692, 846 723, 074 2,770 5,103;. 9,500 695,616 737,677 42,061 17. 693, 28" 709,110 2,077 4,062!, 7,000 695,364 720,172 I 24,808 24. 735, 564 700,102 3,068 3,389!. 738, 632 703,491 35,141 Dec. 1. 621,468 641,187 1,882 3,423!... 2,000 623,350 646, 610 23,260 738,900 691,512! 2,232 3,657... 1,000 741,132 696,169 44,963 15 768,817 773, 470 2,866! 2,113; 10, 000j 10, 500 781,683 786,083 4,400 22 868, 945 814,198 2,399 3, Olli 10, 000; 1"015,,500 881,344 922, 709 41,365 29 629,363 649, 757 1, 812 2,838!.... 631,175 652, 595 21,420 31 (2 days).. 340,885 291, 004i 624 7,500 341, 509 298, 504 43,005 Total: 1926 36,108, 884 35, 518, 049! 120,107173, 717i 141,900! 767, 500|36,370,891 36, 459, 266 .1 88,375 1925 91,1511629, 800J33,166,944 33,386, 072 .[219,128 1 19 9 2 2 3 4 i io 1 n 0 f 5 l , o 0 n 7 r 0 > J | 6 46 1 9 2 ? , 7 0 5 0 Q 0 ! 2 2 6 9 , , 3 7 6 8 8 6 , , 3 70 8 5 0 1 2 2 9 6 , , 9 30 5 9 6 , , 6 2 4 5 1 2 59,06 J 4 1 . 69f872 1 Not for Government account. ' Includes $2,500,000 not for Government account. Net loss in ownership of gold since establishment of fund in 1915, $1,172,727,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBEK BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] NEW YORK DISTRICT Loans and investments Net Call date Total a c L n o d u o n a d n t i s s s ' - Inv G e U o s v . t S m er . n en - ts Other b f D r a o n u m k e s C s p u v u a r a r i n p o d p n d i f d l e t i u i d a t - s s l, , | de T p o o t s a i l ts D p e o m d s e i a t - s n 2 d de T p im os e its U S po n t d a s i e t t i - e e ts s d D ba u n e k t s o d d e e p N m o e s a t i n ts d 3 G de m t o p a i m v m n l e u e a d n e r s n t n d - R F re b w e e s a s d e i e n e t r r h v k r v a e e l p c r a B o e a y d u n i a l i n d l b s s t - l s e r b N b e a i e p u n n r o m g k r o t s - f - Total ment securi- deposits securi- ties ties 1921 Dec. 31 6,823,247 4,893,630 1,929,617 821,5311,108,086 153, 590 1,101,9147,163,081 4,895,242 1,047,90; 108,464 1, 111, 470 5, 352,129 6, 508,498 724,373 276,403 795 1922 Mar. 10 6,654,875 4,709,0911,945,784 876, 532 1,069,252141,,4351, 140,107| 7,141,394 4, 779,287 1, 108,473 112,268 1,141,366 5,179, 201 6,399, 942 683,409 135,106 796 June 30 7,210,479 4, 798,996 2,411,483 1,176,530 1,234, 9531621,,336 ,1 144, 688! 8,241,894 5, 685,185 1, 343, 726i 45,018! 1,167,965!5, 685, 714 7,074,458 732,042 148,084 799 Dec. 29 _ 7, 574,126 5,037,496 2,536, 630 1,341,970 1,194, 660169,4381, 185,280 8, 580,449 5, 709, 393 1,, 438,246 218,392! 1, 211,418.5, 670,365 7, 327,003 756,0201 271,963 803 1923 Apr. 3__ 7, 570,588 5,094,225 2,476,3631,326,734 1L,, 149, 629 155,347 1,189,347i 8,010, 782 5,066,466 1, 578, 708163, 6211, 201, 987 5,418,827 7,161,156) 717, 537J 350, 548 813 June 30 7,596,467 5,113,647|2,482,i, 8201;,317,2541L, 165, 566 153,1361,192,425 7,994, 9"9 4|s, 0"8 5, 905 1, 610, 56"0 81,806 1,216, 723*5,499,123 7,191,4891 700,431 300,166 821 Sept. 14 7,408,651 5,015,4192,393,>, 232 ,12,22,020 l.i, 171,212 141,226 1,217,694 7,748,421 4, 971,954 1, 639, 550 31, 687 1,105, 230'5,294,296 6,965, 533 682,911 321,731 827 Dec. 31 7, 655, 5375,224,9152,430,I, 622 1,2,30,8801:, 199, 742 190,0961,208,144 8, 732,857J5, 689, 041 jl, 666,420 62, 666 1,314,730 5, 625, 363 7,354,449 713,147 324,951 835 1924 Mar. 31 7,692,451 278,016 2,414,435 1,175,578 1, 238, 857 155,082 1,234,431 8,793, 375 5, 606, 670 1, 744, 610 74,2481,367,8475,590,782 7,, 409, 640 738,616 206,068 843 June 30 8,121,136 5,4•5 1•, 8-5 8- 2!,, 669,27811,229,288!1,439, 990 1"8"9 ,547 1239,667 9,513,469 6,106,9801,786,274 36,47211,583,743(6,158,024 7,, 980, 770 756, 506 109, 799 840 Oct. 10_ 8,553,488 5,624,783 2!,, 928, 705J1,367,9111,560, 794 190,0551267,110 9,437,284 5, 777, 664 1, 978, 009 62,6151,618,9966,426,834 8,,467,458 831,948 127, 729 845 Dec. 31 8,848,945 5,900,516 25,, 948,429 1,323, 614 1,624,815 203!,, 212 1.267,123! 10, AM, 54116, 737, 8612, Oil, 599 50, 538 1, 664, 543!6, 743,907 8,, 806,044 885,556 280,356 855 1925 Apr. 6 8,638,116 5,771,370 2,866,., 746 1,254,255 1,612,491 169,194 1,322, 771 9,416, 314 5,827, 960 2,082,315 84, 799 1,421,240 6,161,265 8,328, 379 777,110 306,122 857 June 30 8,868,: 5,970,063 2!,,8 89988,, 757(1,245,064 1,653,693 207, 783 1,339, 541 1.00, ,391,134 6, 712, 757S2,099, 725 25,851 1, 552, 80116, 601, 624 8, 727,200 848,817 260,865 866 Sept. 28 8,956, 932 6,104,294 21,,885522,,66338811,204,3331,648,305 178,1421,343,249 9, 678,,_42_2, _6,,_1_67.,, 795!2, 111, 813! 6_G_,,115 1.,. 332, 69916,332, 300 8, 510, 228801,882 353,087 874 Dec. 31 9,515,821 6,725i,, 534 2!,, 790,"2-8"7•1,191,180|l, 599,107 205, 724 1,367,649 11,036, 557 7,200,083 2,178,484| 74, 352 1., 583, 638<6, 943, 833 9,196, 669 868, 685 472,171 1926 Apr. 12 9,212, 964 6,380,062 2,832,902 11,,117722,,065 1L,, 660,837 187, 772 1,431,456 10, 045,142 6, 306, 968 2,252,128 71,0371., 415,009S6,427, 968 8, 751,133 781,876 329,106 885 June 30 9,476,838 6,567,175 2,9099,, 6"6"31,196,774 1L;, 712,889 202, 914 1,432, 738 10, 743,387 6,823,091 2,312,027 42,0211, 566, 248J6,807,434 9,161,482 864,614 278,858 896 Dec. 31 9,849,476 7,043,813 2,,8"05,6631,060,4041;L, 745,259 230, 709 1,499, 733 11,248,839 7,179, 541 2,445, 925 60,037 11, 563,33616, 920,812 9,426, 774 840,895 394, 349 913 i Including rediscounts and overdrafts. 8 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

to No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued Otor [Amounts in thousands of dollars] CITY OF ALBANY Loans and investments Net Call date Total a c L n o d u oa n d n ts i s s - i Total Inv G e m U o s v . t e S m e n . r t n en - ts s O ec th u e ri r - b f D a ro n u m k e s C s p u v u a r a r i n o p d p n d f i e l d i t u i t a d - s s l, , d T ep o o ta si l ts D p e o m sit a s n 2 d d T ep im os e its U S p n o d ta e s i t t - i e e ts s d ! Due to | ! d d e e p N m o e s a i t t n s d 3 d d G e e m t p o a p m im v n l e o u a e d n s e s r n i t n t d s - K F re b e w e s d a s e i n e e r t r v h r k v a e e l p c r a B o e a y u d n i a l i n d l b s s t - l s e r b N b e a i e p u n n r o m g k r o t s - f securi- ties ties 1925 Dec. 31 70,332 45, 571 24, 761 9, 287 15,474 7,318 10,420 79,047 43, 782 13,826 632 20,807! 51, 861 66,319 5,913 1,600 1926 Apr. 12 78,369 52,465 25,904 9,161 16, 743 7,901 10,643 89, 759 54, 687 13,901 618 20, 553) 62, 674 77,193 8,264 600 June 30 85,334 57,233 28,101 10, 515 17, 586 17,267 10,813 106, 952 71,044 14,327 579 21,002i 73,466 88,372 7,435 2,000 Dec. 31 74, 794 49, 548 25,246 8,<~ 16, 750 5,075 11,119 79,638 46, 759 14,485 515 17,879i 54,151 69,151 8,868 5,000 CITY OF BUFFALO 1025 Dec. 31 383,284 237, 929 145, 355 66, 654 78, 701 15, 771 46,178 389,474 174,919 185,257! 7,050 22,248 169, 730 362,037 20, 819 26, 742 1926 Apr. 12 375, 666 245,08Q\ 130,586 58,036 72, 550 13,268 48, 976 388,191 163, 370 197,857 5, 918 21,046 161,861 365,636 21,218 3, 553 June 30 387, 585 258, 773 128,812 55,308 73,504 12,094 48,704 403, 323 178, 593 200,204; 3,486 21,040 176,431 380,121 17,815 2,700 Dec. 31 392, 589 281,030 111,559 40,055 71, 504 14,745 49, 574 395,113 168, 660 202,489| 3,575 20, 389 165,171 371,235 22,034 11,287 NEW YORK CITY (CENTRAL RESERVE CITY BANKS) 1925 Dec. 31 !, 534,2394,945,684 1,588,555 875,223 713, 332 95,905 990, 715 8,052,075 5, 738, 613 782, 700 58,823 1,471,939 5,485,085 6,326,608 713,300 385,956 63 1926 Apr. 12 i, 148,0134, 505,188 1, 642,825 864,316 778, 509 80,5131, 028, 762 7,003,1294,854,617 786, 595 55,664}1,306,253 4,968,399 5,810•,,658 622, 765 274,510 56 June 30 6,400,777 4,684:,, 296 1,, 716,481 902,019 814,462 87,3721,035,154 7,662,625 5,348, 508 822,241 32,6891,459,187 5),, 339,324 6,194,254 709,144 218,814 58 Dec. 31 6, 701,312 5,077',, 692 1,,623, 620 814,912 120,7921,082,070 8,126,255 5,7"019,i791 911,055 50,2061,455,203 55,,451,394 6,412,655 681,228 327,950 60 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

NEW YORK CITY (RESERVE CITY BANKS) 1925 co Dec. 31.. 171, 741 116,473 55,268 26,282 28,986 2,618 19,906 188,341 151,449 19, 765 1,116! 16,011 152,730 173, 611 15, 735 6,516 10 22 1926 Apr. 12 207, 518 144,278 63,240 28,840 34,400 2,992 25,417 223,916 172,958 34,487 737! 15,734 176,850 212,074 18,880 3,369 14 June 30 155,564 109,089 46,475 18,944 27,531 2,055 20,209 165,373 121, 558 30, 608 534 12, 673 124, 782 155,924 12,556 4,2 15 Dec. 31 157,587 118, 611 38,97f 10,509 28,467 1,961 21, 720 170,295 125,028 31, 947 533 12, 787 128,878 161,358 14,330 3,205 17 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. H-* * Demand deposits on which reserves are computed. 00 i o r to Or 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

254 ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (880 1926 (885 1926 (896 1926 (913 banks) banks) banks) banks) RESOURCES Loans and discounts $6, 722, 847 $6,378,061 $6,564,517 $7,040,818 Overdrafts 2,687 2,001 2,658 2,995 United States "Government securities 1.191,180 1,172,065 1,196, 774 1,060,404 Other bonds, stocks, and securities 1,599,107 1, 660, 837 1, 712, 889 1, 745, 259 Total loans and investments _. 9,515,821 9,212,964 9,476,838 9,849,476 Customers' liability on account of acceptances 348, 853 341,395 309, 627 351, 756 Banking house, furniture, and fixtures 178, 996 190, 713 192, 735 206,154 Other real estate owned 12, 065 13, 030 13,916 14,810 Cash in vault 118,855 117,315 116, 240 105, 986 Reserve with Federal reserve bank 868, (585 781, 876 864, 614 840,895 Items with Federal reserve banks in process of collection. 253, 426 232,188 247, 499 271, 592 Due from banks, bankers, and trust companies 205, 724 187,772 202, 914 230, 709 Exchanges for clearing house and checks on other banks in same place 1,626,185 1. 018, 269 1, 278, 908 1,494,194 Outside checks and other cash items 31,480 35, 801 30, 508 51,129 Redemption fund and due from United States Treas- Un u i r t e e r d . . States securities borrowed J 4,169 4,158 4,2 3 8 94 3 4,15 9 4 2 Other securities borrowed i : 65 65 Other assets . 273,163 246, 797 252, 227 301,004 Total ' 13,438,022 12, 382, 278 12, 990, 768 13, 722,016 LIABILITIES ; Capital stock paid in j 531.048 559, 881 562,088 584, 633 Surplus fund j 570, 298 600, 435 605, 758 629,287 Undivided profits, less expenses and taxes paid ! 266, 303 271,140 264, 892 285,813 Reserved for taxes, interest, etc., accrued | 30,195 38, 472 39, 937 34, 560 Due to Federal reserve banks _ j 15,407 14, 429 14,748 14,831 Due to banks, bankers, and trust companies j 1, 568, 2ol 1, 400, 580 1, 551, 500 1, 548, 505 Certified and cashiers' or treasurers' checks outstanding J 878, 422 ' 630, 798 697, 703 794, 758 Demand deposits [ 6,321,601 5, 676,170 6,125,388 6, 384, 783 Time deposits ' 2,178,484 2, 253,128 2,312,027 2,445, 925 United States deposits i 74,352 71,037 42,021 60,037 Total deposits 10,046,142 10,743,387 Agreements to repurchase United States Government ; 11,036,557 11,248,839 or other securities sold ! 11,312 2,019 Bills payable (including all obligations representing j 3,438 17,506 money borrowed, other than rediscounts) j 142,315 Notes and bills rediscounted (including acceptances of \ 236, 581 197,403 other banks and foreign bills of exchange or drafts | sold with indorsement) i 235, 590 186, 791 180,056 ! 196,946 Letters of credit and travelers' checks sold for cash and i outstanding i 16,293 16, 748 29,101 14,844 Acceptances executed for customers : 339, 305 323, 241 301,004 348, 726 Acceptances executed by other banks for account of i reporting banks : ! 42,463 43, 804 33,123 27,861 National-bank notes outstanding j 82, 057 81,224 84,082 81, 650 United States securities borrowed ! 4, 943 651 394 92 Other securities borrowed • 242 65 65 65 Other liabilities ; 42, 704 60,057 46,060 53, 791 Total 13,438,022 12, 382, 278 12,990,768 13, 722,016 1 Exclusive of securities borrowed by national banks, prior to June 30,1926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2—NEW YOKK 255 No. 11.- -ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OP CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having a Banks in cities and towns having a population of— population of— Date Total Total Less 5,000 15,000 100,000 Less 5,000 15,000 100,000 than to to and than to to and 5,000 14,999 99,999 over 5,000 14,999 over 1923 Apr. 25.... 5,274,464 157,590; 100,551 281,382 4,734,941 1,627,805 216,146 125,837 333,747 952,075 May 23... 5,316,076 159,192; 104,082 271, 770 4,781,032 1,620,868 208,657 129,772 326,691 955,748 June 21... 5,331,349 162,698i 103,843 278,675 4,786,133 1,646,399 233,571 130,5531323,893 958,382 July 25 5,264,514 170, 648!106, 733 280, 011 4, 707,122 1,636, 235226,515 132,229 337,239 940,252 Aug. 29... 5,130,367 173,765 110,161 278,437 4, 568,004 1,654,771 226,785 131,950 340,591 955,445 Sept.26_-_ 5,192,001 171,604 106,899 273,583 4,639,915 1,662,566 230,550 134,001 340, 058 957,957 Oct.24.._. 5,310,236 172,711 106,914 273,019 4,757,592 1,680,986 233,539|134,127 347,327 965,993 Nov. 28 .. 5,339,505 164,056 105,453 267,373 4,802,623 1,662,051 235,986!134, 536 349,638 941,891 Dec. 26.... 5,302, 558 160, 8051105,687 273, 410|4,762, 656 1,668, 525236, 243134,748 348,905 1924 ! Jan. 23.... 5,383, 722 163,465! 103, 548 273,24014,843,469 1,699,871 240,005 137,878 356,247 965,741 Feb.27.._. 5,390,662 157, 552!103,3421272,809 4,856,959 1,700,446 242,727 139,809 360, 667 957,243 Mar. 28... 5,406,973 155, 771 101,020!269,000 4,881,182 1, 750,663245,246 141,127 362,825 1,001,465 Apr. 23.... 5,545,860 156,538 105,225 277,007 5,007,090 1,779,565 245,588 143,517 367,316 1,023,144 May 28... 5,623,334 156,7611106,688 282,617!5,077,268 1,781,915 245,494 144,328 372,914 1,019,179 June 25—. 5,982,997 161,863 106,083 288,151 5,426,900 1,812,215 247,027 145,994 373,741 1,045,453 July 23.... 6,127,421 170,632 108,834 5,555,267 1,842,634 250,700 142,212 377,672 1,072,050 Aug. 27... 6, 219,902 179, 208 113,878 291,272 5, 635,544 1,882,782 257, 642145,608 384,385 1,095,147 Sept. 24... 6,306,369 177,2081112,077 293, 532 5, 723,552 1,965,839 261,106 146,977 388,317 1,169,439 Oct. 29--.. 6,348,865 175,452j 112,263 296,176| 5,764,974| 2,026,426 263,461 148,045 395,698 1,219,222 Nov. 26... 6,496,559 175,288 112,049 301,183 5,908,039 2,066,104 265,306 147,685 397,655 1,255,458 Dec. 24.... 6, 527,806 170,410 109,8221299,654 5,947,920 2,018,700 265,979 147,137 398,396 1,207,188 1925 Jan. 28.... 6,383,028 171,936 111,518 301, 777 5, 797,797 2,041,042 271,334 151,107 406,067 1,212,534 Feb. 25.... 6,289,886 170, 752j109,401 299,290J 5,710,443 2,063,112 276,212 153,946 413,399 1,219,555 Mar. 25... 6,109,736 169,035 108,957 292, 762!5,538,982| 2, 063,332276,283 154,543 424,942 1,207,564 Apr. 22.... 6,334,929 173,101 113,0171299,692!5, 749,119|2,121, 020277,429 154,138 418,885 1,270,568 May 27... 6,236,627 179,967 114,232 302,426 5,640,00212,154,206 280,378 154,082 432,070 1,287,676 June 24... 6,276,324 183,233 115,109 303,477 5,674, 505 2,141, 081284,507 156,780 427,916 1,271,878 July 29.... 6,302,126 192, 214 118, 732 314,280 5, 676,900 2,122,663 291,741 157,107 432,316 1,241,499 Aug. 26... 6, 234,042 200,096 122,357 314,254!5, 597, 335 2,158, 054291, 506160,880 437,038 1,268,630 Sept. 23... 6, 222,943 200,168 121,870 317,818 5,583,087 2,161,364 297, 656161, 889439,402 1,262,417 Oct. 28..-. 6,464,101 198,275 121,651 313,743 5,830,432 2,164,082 300,549 163,081 443,308 1,257,144 Nov. 25... 6,408, 228 196,326 119,663 314,247 5,777,992 2,183,450 302,698 161,597 442,859 1,276,296 Dec. 23.... 6, 496,179 193,228 118,190 318,221 5,866, 540 2,180,939 302,442 161,228 441, 6061,275,663 1926 Jan. 27.... 6,455,855 193,845 120,112317,893 5, 824,005 2,230,372 311,296 164, 758!450,859i1,303,459 Feb. 24.... 6,371,738 189,725 117,541 310,832 5,753,640 2,251,868 314,921 166,340|453, 7131,316,894 Mar. 24... 6,370,129 187,184 116,845 303,332 5, 762, 768j2,283,991 318,002 168, 278456,474 1,341,237 Apr. 28.... 6,415,786 190,195 118,518315,184 5,791,88912,316,911 321,382 169,658 458,550 1,367,321 May 26... 6,451,092 196,325 124,277314,250 5,816,240 2,312,758 319,627 174,487 457,242 1,361,402 June 23... 6,443,053 198,674 121,856 315,39715,807,12612,350,454 323,561 171,196 466,146 1,389,551 July 28.... 6,345,551 204,559 126,021 316,738!5,698,23312,384,440 329.091 171,783 465, 0041,418,562 Aug.25... 6,294,454 214,791 121,233303,214 5,655,216 2,396,574 330,911 175,121 454,136 1,436,406 Sept. 22... 6,340,656 212,051 126,211 313,379!5,689,015 2,370,375 331.092 177,384 460,996 1,400,903 Oct. 27.... 6,339,173 208,039 121,188310,26115,699,685 2,399,545 337,800 177,388 467,543 1,416,814 Nov. 24... 6,362,887 207, 827 120,182309,216 5,725,662 2,430,864 336,259 175,606 467,426 1,451,573 Dec. 29.... 6, 634,463 199,361 121,583309,899 6,003,620 2,455,797 340,667 177, 680458,451 1,478,999 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS to [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Reserves Borrowwith Fed- ings from Date (Wednesday) Loans eral re- Federal Invest- Net de- Govern- serve reserve Total ments Total mand Time ment bank bank On securi- Total ties All other i Weekly averages: 1922 _ 5,687,610 3,990,110 1,679,095 2,311,015 1,697,500 5, 605,870 4,853,535 667,296 85,039 645,867 72,235 1923 5,987,834 4,167, 785 1, 693,849 2,473,936 1,820,049 5,678,050 4,738,684 871,934 67,432 631, 549 160,218 1924 6,507,322 4,477,851 1, 919, 950 2,557, 901 2,029,471 6,378,174 5,329,422 1,010,868 37,884 726,478 48,*769 1925_ 7,070, 714 4,874, 707 2,326,893 2,547,814 2,196,007 6,860,300 5, 654, 635 1,172, 768 32,897 760,403 123,223 1926 7,267,546 5,079,353 2,371,284 2,708,069 2,188,193 6, 928, 666 5,619,848 1,264, 633 44,185 759,340 119,908 192G Jan. 6. _. 7,413,636 5, 268,951 2,682,912 2,586,039 2,144,685 7,133,005 5,876,484 1,195, 645 60,876 767, 630 151,796 13 7,293, 781 5,153,230 2,565,030 2,588,200 2,140, 551 7, 025, 948 5, 769, 743 1,199,578 56, 627 789,123 139,875 20 7,255,367 5,115,707 2, 545,704 2, 570,003 2,139, 660 6, 971,232 5, 720, 971 1,193,634 56,627 765,329 88,323 27 7,237,008 5,069,872 2,512,427 2,557,445 2,167,136 6,935, 786 5,678,702 1,200,457 56,627 746,946 76,826 b Feb. 3 7,269,080 5,099,439 2,545,162 2, 554,277 2,169, 641 6, 937, 660 5, 678,429 1, 202, 604 56, 627 738,056 130,279 10 7,245,058 5,066,358 2, 508,929 2,557,429 2,178, 700 6,922,428 5, 672, 564 1,193, 237 56,627 767,115 161,120 17... 7,197, 794 5,029, 704 2,436,809 2,592,895 2,168,090 6,859,298 5, 604,464 1,198,207 56,627 779.178 171,402 to 24.. 7,232, 576 5,024,024 2,415,503 2,608,521 2,208,552 6,863,67^ 5, 605, 929 1,201,016 j 56, 627 755, 906 169,021 Mar. 3 7,268,285 5,048,935 2,392,516 2,656,419 2, 219, 350 6, 945, 795 5, 691,243 1,197,925 56, 627 751, 787 143,130 10 7,196,123 4,981,152 2,292,302 2, 688,850 2,214,971 6,849,479 5, 584,291 1, 208, 561 56, 627 757,067 126,720 to 17 7,224,872 5,015,811 2,350,199 2, 665,612 2,209,061 6, 980,456 5,687,109 1, 217, 759 75, 588 773,924 77,488 24... 7,203,835 5,071,487 2,380, 642 2,690,845 2,132,348 6,877,174 5, 589, 955 1, 228,913 58,306 778, 560 117,006 31. -_ 7,263,423 5,137, 931 2,431,563 2, 706,368 2,125,492 7,047, 540 5, 742, 642 1, 246, 592 58,306 803, 381 114,156 to Apr. 7 7, 200,388 5,053, 385 2,391, 706 2, 661, 679 2,147,003 6,871,335 5, 563, 786 1, 249, 873 57, 676 740,064 125, 692 14 7,148,827 4,947,413 2,270, 604 2, 676,809 2,201,414 6,860,126 5, 572, 518 1,229,932 57, 676 820,043 161,050 w 21 7,152,489 4, 945, 913 2,270,813 2,675,100 2,206, 576 6,885,883 5, 592, 538 1,245, 387 47, 958 728,327 32,470 28..'. 7,232,137 5,031,420 2,331, 571 2,699,849 2,200,717 6, 920, 397 5, 622, 013 1, 249, 601 48,783 774,140 110,467 to May 5.- 7,297, 635 5,084,450 2,356,480 2, 727,970 2, 213,185 6, 921,289 5, 626,078 1,249,170 46,041 751,383 141,026 12 7, 228, 934 4, 995, 721 2,286, 712 2, 709,009 2, 233, 213 6, 931,479 5, 648, 744 1, 238, 999 43, 736 742, 930 80, 560 19 7,228,180 4,987,857 2,307,974 2,679,883 2,240,323 6,890, 680 5, 615, 850 1, 236, 558 38, 272 750,918 91,407 26 7,223, 517 4,972,253 2,312,008 2,660,245 2,251,264 6, 914, 576 5, 642,191 1,235,641 36, 744 761,575 75,705 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

June 2. 7,322, 599 5,051,054 2,420,075 2, 630, 979 2, 271, 545 7,042,118 5,762,929 1,242,445 I 36, 744 787,270 128,929 9. 7,275,264 4, 982,434 2,333, 590 2,648,844 2, 292,830 6,944,950 5,674,448 ,233,758 36, 744 763,148 84,266 16. 7,368,423 5,089,358 2,351,005 2, 738,353 2,279,065 7,017,606 5,741,656 ,239,206 ! 36, 744 797,081 38,943 23. 7,248,836 5,014,248 2,397,174 2,617,074 2,234,588 6,922, 739 5, 635,386 , 250, 609 36,744 764,696 60,676 30. 7,427,443 5,177,871 2, 537,121 2,640, 750 2,249,572 7,164,348 5,869,390 ,262,809 32,149 766,138 70,071 July 7. 7, 351,776 5,101,932 2,460,395 2, 641, 537 2,249,844 6,954,413 5,655,967 , 267,909 30, 537 787,686 207. 528 14. 7,273,922 5,023,691 2,399,027 2,624,664 2,250,231 6,920,341 5, 602,163 , 290, 082 28,096 757,547 118,920 21. 7,251,131 5,003,661 2,410,708 2,592,953 2,247,470 6,888,185 5, 565,668 1,294,479 28,038 740,742 100,324 28. 7,228,555 4,993,262 2,381,354 2,611,908 2,235,293 6,841,853 5,517,550 1,296,265 28,038 749,695 122, 752 Aug. 4. 7,308,176 5,057,841 2,434,401 2,623,440 2,250,335 6,877,647 5,541,352 1,308,257 28, 038 740,901 138,836 11. 7,243,306 5,026,880 2,392,227 2, 634,653 2,216,426 6,833,522 5,481,769 1,327,146 24,607 755,916 163,607 18. ' 7,208,339 4,991,295 2,353, 543 2, 637, 752 2,217,044 6,796,317 5,460,153 1,314,001 22,163 740,435 121,323 25. 7,233,897 5,023,882 2,384,124 2,639,758 2,210,015 5,475,268 1,313,216 16,845 711,920 111,777 Sept. 1. 7,292,660 5,097,234 2,424,476 2,672,758 2,195,426 6,887,301 5, 558, 218 1,312,238 16,845 763,483 i 147,313 8. 7,276,844 5,073,676 2,383,879 2,689,797 2,203,168 6,849,965 5,531,506 1,301, 614 16,845 738,416 ! 164,260 § 15. 7,290,503 5,115,556 2,389,940 2,725,616 2,174,947 7,029,019 5,676,457 1,283,263 69,299 832,844 j 122, 742 22. 7,231,853 5,076,889 2,349,186 2,727,703 2,154,964 6,847,375 5,503, 564 1,274,512 69,299 753.438 j 162,138 29. 7,357,827 5,196,066 2,422,766 2,773,300 2,161,761 6,976,193 5, 629,347 1,277,547 69, 299 758,507 I 167,175 O Oct. 6_ 7,318,186 5,170,318 2,361,452 2, 808, 866 2,147,868 6,919,102 5,575,330 1,274,473 69,299 706,235 125,198 13. 7,247,885 5,118, 596 2,319,423 2,799,173 2,129,289 6,908,426 5, 570,936 1,273,245 64,245 730,028 176,401 20. 7,219,879 5,088,768 2,234,597 2,854,171 2,131, 111 6,858,916 5, 543,430 1,268,272 47, 214 723,058 82,689 27. 7,201,241 5,062,185 2,221,343 2,840,842 2,139,056 6,821,155 5,495,803 1,285,220 40,132 729, 549 101,769 Nov. 3. 7,285,007 5,134, 616 2,249,190 2,885,426 2,150,391 6,885,262 5, 546, 564 1,298,566 40,132 713,551 142,477 10. 7,187,310 5,068,388 2,189,574 2,878,814 2,118,922 6,835,874 5,492,003 1,309, 762 34,109 734,961 88,649 17. 7,200,858 5,069,480 2,148, 502 2,920,978 2,131,378 6,863,851 5,527,673 1,312, 299 23,879 749,623 68,929 24. 7, 249, 699 5,119,641 2,194, 563 2,925,078 2,130,058 6,850,970 5,512,252 1,317,232 21,486 727,994 122, 521 Dec. 1. 7,317,700 5,176,226 2,243,663 2,932, 563 2,141,474 7,010,920 5,647,307 1,342,127 21,486 778,166 112,828 8. 7,304, 515 5,152,358 2,220,372 2,931,986 2,152,157 6,902,947 5, 533,966 1,347,493 21,488 771,103 132,766 15. 7,292,472 5,160,053 2,266,225 2,893,828 2,132,419 7,122, 589 5, 728, 780 1, 344, 649 49,160 828,834 69, 980 22. 7, 372,999 5,242,857 2,368,370 2,874,487 2,130,142 7,016,314 5,626,482 1,340, 672 49,160 762,075 142,779 29. 7,510, 364 5,365,033 % 476,956 2,888,077 2y 145,331 7,159,969 5,772,533 1,338,276 49,160 777,232 151,124 Crc Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] 00 MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrow- Month Loans with ings from Federal Federal Total On I m n e v n es t t s - Total de N m e a t nd Time G m ov e e n r t n- re b s a e n r k ve re b s a e n r k ve I Total securities All other 1922 January 5,478,401 4,046,839 1,566,180 2,480,659 1,431,562 5,318,639 4,757, 554 478,077 83,008 624,612 126,311 February._ 5,470,864 3,976,987 1,524,309 2,452, 678 1,493,877 5,313,125 4,661,118 501, 785 150,222 615,915 100,921 March _ 5,417, 711 3, 984,601 1,528,882 2,455, 719 1,433,110 5,312, 019 4, 692, 913 524, 737 94,369 629,042 47,231 April 5,510,989 1,584,372 2,414, 222 1,512,395 5,454,786 4,825,320 554, 980 74,486 635, 930 42,452 May 5, 665, 991 4,021,851 1,713,021 2,308, 830 1, 644,140 5, 646, 927 4, 993,073 596, 256 57, 598 669, 951 31,915 June _._ 5,832,183 4.027,820 1,771,383 2,256,437 1,804,363 5, 826,949 5,124,441 631, 790 70, 718 30,227 July... 5, 813, 779 3, 958, 974 1,743,378 2,215, 596 1,854,805 5,784, 479 4, 980, 242 767,166 36,471 684,055 59,505 August 5, 792.440 3,910,114 1, 681,383 2,228, 731 1, 882,326 5,742,519 4,850, 312 817,422 74,785 642,438 28,190 September 5, 758,032 3,937,896 1,712,939 2, 224,957 1, 820,136 5, 684,120 4,834,212 791, 505 58,403 620,803 33,134 October 5, 835,075 4,017,600 1,770,496 2,247,104 1,817,475 5, 754, 228 4, 899, 524 774,972 79, 732 670,076 86,229 November _._ 5,815, 633 4,001, 749 1,783,776 2,217, 973 1,813, 884 5, 680,439 4, 812, 997 784, 208 83,234 637,068 146, 612 December 5,874,889 4.008,821 1,771,344 2,237, 477 1, 866,068 5, 762,601 4,826, 921 770, 695 164,985 632,930 142,835 W 1923 u f i t January _ 6,103,138 4,152,430 1, 826,744 2,325,686 1. 950, 708 5,851,874 759,700 110,090 663, 545 177,124 ft February 6, 044, 287 4,141,304 1, 775,086 2,366,218 1,902,983 5,743,722 4, 947, 923 748, 975 46,824 655,665 217,112 March 6,065,940 4,214,396 1,742,680 2,471,716 1,851, 544 5, 729, 696 4, 765, 234 866, 817 97,645 632,481 177,344 April 9,141 4,247,087 1,761,518 2,485, 569 1,822,054 5, 767,969 4,726,147 900,147 141,675 628,819 151,891 ft May 6,042,374 4, 242,824 1,766,168 2,476,656 1, 799, 550 5, 732,063 4, 708,947 910, 583 112,533 635,059 151,498 June.. 5,993,056 4,168,498 1, 718,437 2,450,061 1,824, 568 5,686,435 4, 716,337 901, 984 68,114 636,021 139,947 July 6.010, 554 4,176,341 1,711,379 2,464,962 1, 834,213 5, 688,017 4, 733,551 900,614 53,852 I 632, 518 179,444 August 5, 846,900 4,062,925 1,567,827 2,495,098 1, 783, 975 5,482,832 4, 551, 232 892,993 38,607 | 611,305 169, 516 I September 5,889,655 4,132,459 1,587,819 2, 544,640 1, 757,196 5, 535,421 4,587,643 904,288 43,490 608,745 163,052 October 5,941, 562 4,173,519 1, 595,278 2,578,241 1,768,043 5,625,947 4,686,224 900, 812 38,911 626,336 ! 160,351 November ____.__.- 5, 905, 200 4,136,839 1,603,877 2, 532,962 1, 768,361 5, 644, 480 4, 740, 604 887,105 16,771 621,145 ! 115, 687 December ......... 5, 946, 538 4,174,660 1, 674,222 2, 500, 438 1,771,878 5, 653, 009 4, 724, 842 895, 102 33, 065 624,436 115,241 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 6,022,783 4,239,325 1, 2,470,429 1,783,458 5, 784, 713 4,838,442 902,926 43,345 662.692 108,129 February 6,021,211 4,237,450 1,703', 779 2,533,671 1,783,761 5, 758,376 4,826,077 894,339 37, 960 636,289 100,995 March 6,064,203 4,307,018 1, 705,517 2,601,501 1,757,185 5, 840, 007 4,870,850 917,127 52,030 667,800 55,284 April 6,116,392 4,309,175 1,723,972 2,585,203 1,807,217 5,919,653 4,906,607 951,894 61,152 672,550 62,031 May 6,158,479 4,270,223 1,732,453 2,537,770 1,888,256 5,985, 525 4,987,696 956, 957 40,872 674,263 36,979 June _ 6,370,896 4,383,814 1,859,342 2,524,472 1,987,082 6, 288,285 5,295,449 967,394 25,442 741,897 16,906 July 6,540, 573 4,495,447 1, 988,044 2, 507,403 2,045,126 6, 47Q, 618 5,458,040 995,760 21,818 745, 962 25,334 August 6,704,223 4,596,074 2,029,065 2,567,009 2,108,149 6, 630, 341 5, 578,640 1,032,200 19, 501 763,184 17,675 September 6,796,402 4,607,826 2,069,020 2,538, 806 2,188, 576 6, 733, 702 5,642, 585 1,060,088 31,029 789,750 32,504 October 6,997,589 4.699,872 2,083, 201 2,616,671 2,297,717 6,930,121 5,762,956 1,120,645 46, 520 786,486 38,427 November 7,072,207 4,708,598 2,097,364 2,611, 234 2,363, 609 7, 008, 803 5,809,470 1,161,857 37,476 756,899 23, 531 December 7,150,163 4,832,590 2,230,124 2,602,466 2,317,573 7,102,515 5,917,215 1,152,007 33, 293 808,914 55,930 1925 January 7,135,007 4,868,027 2,246,154 2,621,873 2,266,980 7,040, 782 5,862, 747 1,146,086 31,949 776,731 46,777 February 6,993,882 4,817,241 2,254,182 2,563,059 2,176,641 6,842,304 5, 675, 953 1,139,860 26,491 777,773 144,299 March 6,973,242 4,807,327 2,269,856 2,537,471 2,165,915 6, 778,387 5, 588, 660 1,141,711 48,016 758,610 127,174 April _.. 7,012,964 4,810,797 2,248,513 2, 562,284 2, 202,167 6,855, 588 5, 608,907 1,189,533 57,148 747,942 81,805 May 6,993,404 4,791,353 2,262,550 2,528,803 2,202,051 6,844, 790 5, 604, 707 1,203,487 36, 596 749,954 69,962 June 7,009,377 4, 776,775 2,301,417 2,475,358 2,232,602 I 6,826,051 5,603, 794 1,197,863 24,394 745,356 92,236 July :::::: 7,013,876 4,786,396 2,331,656 2,454,740 2,227,480 I 6, 824,825 5,646,059 1,165,444 13,322 750,046 100,667 August 6,995,943 4, 779, 380 2,303,430 2,475,950 2,216,563 6, 727, 502 5, 542,215 1,176, 658 8,629 749.306 152,424 September 7,043,782 4,863,733 2,329,921 2, 533,812 2,180,049 6, 767,128 5, 550,442 1,181,964 34, 722 758.307 175,638 October. _ 7,145,399 4,970,487 2,362,953 2,607, 534 2,174,912 6,876,801 5,658,304 1,177,275 41,222 755,794 158,377 November. 7,223,839 5,053, 971 2,428,759 2,625, 212 2,169,868 6, 949, 597 5,759,711 1,169,855 20, 031 767,634 139,027 December 7,288,731 5144,384 2, 546,162 2,598,222 2,144,347 6,990,603 5,765,924 1,177,608 47, 071 786, 972 179,182 1926 January _ 7,299,948 5,151,940 2,576, 518 2,575,422 2,148,008 7,016,493 5,761,475 1,197,329 57, 689 767,257 114,205 February 7,236,128 5,054,882 2,476,601 2, 578,281 2,181,246 6,895, 740 5, 640,347 1,198,766 56, 627 760,064 157,956 March __. 7,231,307 5,051,063 2,369,444 2, 681, 619 2,180,244 6,940,089 5,659,048 1,219,950 61,091 772,944 115, 700 April _ 7,183,461 4,994, 533 2,316,174 2, 678,359 2,188,928 6,884,435 5, 587,714 1,243,698 53,023 765,644 107,420 May___ 7,244, 566 5,010,070 2,315, 793 2, 694,277 2,234,496 6,914, 506 5, 633,216 1,240,092 41,198 751,702 97,174 June 7,328,513 5,062,993 2,407,793 2,655,200 2,265, 520 7,018,352 5,736,762 1,245, 765 35,825 775,667 76,577 July 7,276,347 5,030,637 2,412,871 2, 617, 766 2,245, 710 6,901,198 5, 585,337 1, 287,184 28, 677 758,918 137,381 August 7,248,430 5,024,975 2,391,074 2,633, 901 2, 223,455 6,828,204 5,489,636 1,315,655 22, 913 737,293* 133,886 September 7,289,938 5, 111, 885 2,394,050 2, 717,835 2,178, 053 6,917, 970 5, 579,818 1,289,835 48, 317 769,338 152,726 October 7,246,798 5,109,967 2,284,204 2,825, 763 2,136,831 6, 876,899 5, 546,375 1,275, 302 55,222 722,218 121,514 November 7,230,718 5,098,031 2,195,457 2, 902, 574 2,132, 687 6,856,490 5, 517,123 1,309,465 29,902 731, 532 105,644 December 7,359,610 5,219,305 2,315,117 2,904,188 2,140, 305 7, 042, 548 5, 661,814 1,342, 643 38,091 783,482 121,895 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN NEW YORK CITY—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Reserves Borrow- (We D dn a e t s e day) Total Lo O a n ns I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- F re b w e s a d e i n e t r h r v k a e l in F r g e b e s s a d e f n e r ro r v k a m e l D ba u n e k t s o D b u a e n f k ro s m Total All other securities 1926 Jan. 6__ 6, 397,604 4,680,951 2,412,267 2,268, 684 1,716,653 6,169, 765 5,308,309 807,698 53, 758 709,533 109,062 1,153,487 109,306 13__ 6,279, 272 4, 566, 596 2, 297, 597 2, 268, 999 1,712,676 6,056, 936 5,197,761 809,180 49,995 731,278 104,487 1,109,166 103,364 20__ 6, 241,039 4, 529,057 2, 279, 689 2, 249, 368 1,711,982 6,009,957 5,157, 748 802, 214 49, 995 707,397 51,177 1,137,043 98, 533 27_ 6, 221, 045 4, 483,171 2, 247,233 2, 235, 938 L, 737,874 5,978.896 5,119,986 808,915 49,995 690,823 37,162 1,103, 941 94,724 Feb. 3.. 6, 253, 885 4, 505, 734 2, 270, 812 2, 234, 922 L, 748,151 5,976,379 5,117, 675 808, 709 49,995 680, 757 95, 248 1,109, 749 100,711 10__ 6, 227, 989 4, 466,446 2, 232, 510 2, 233, 936 L, 761, 543 5,957,484 5,105,980 801, 509 49,995 709,104 128, 712 1, 083, 477 93,013 17__ 6,180,153 4,429, 209 2,157, 210 2, 271, 999 L, 750, 944 5,884,359 5,034, 377 799,987 49, 995 722,107 145,196 1, 077, 668 99, 554 24.. 6, 218. 539 4,425, 902 2,141, 793 2, 284,109 L, 792,637 5,897,324 5,045,236 802,093 49, 995 697, 885 141, 926 1,063,108 93,391 Mar. 3. 6, 251,300 4, 447, 565 2,114,474 2, 333,091 L, 803,735 5,970,422 5,124,217 796,210 49, 995 692,303 119,336 1,165, 209 108,845 10__ 6,178, 591 4, 379, 809 2, 011, 739 2, 368,070 L, 798, 782 5,880,462 5,026,017 804,450 49, 995 699,488 103, 539 1,088,802 88,802 17._ 6, 207,051 4, 411,068 2,066, 612 2,344,456 L, 795,983 6,002,574 5,122,825 812,293 67.456 717, 309 58, 348 1,101, 661 97,886 24 6,182, 719 4, 459,140 2,090, 861 2,368,279 L, 723,579 5,900,663 5,030,129 818,467 52,067 722,421 98, 227 1,057, 603 85,814 31___ 6, 245, 996 4, 530, 632 2,151,054 2, 379, 578 L, 715,364 6,037,778 5,150,463 835,248 52,067 743,016 88,317 1,167,145 103,084 Apr. 7 6,179,136 4, 444, 263 2,105, 500 2,338, 763 1,734, 873 5,887,445 4,999,087 836,291 52,067 682,867 106, 696 1,078,815 104,748 14.. 6,124, 267 4,340, 739 1, 988,105 2,352, 634 L, 783, 528 5,867,652 5,001,492 814,093 52,067 763,152 144,047 1,108,619 109, 521 21. 6,117, 201 4; 329,101 1, 980,810 2,348,291 L, 788,100 5,882,369 5,011,375 828,166 42,828 667, 760 15,688 1,079,477 106, 592 28. 6,191,774 4,409,048 2,038, 905 2,370,143 L, 782,726 5,914,951 5,038, 589 833, 534 42,828 711,897 94,883 1,078, 359 111,629 May 5__ 6, 261, 648 4, 466,835 2.065,295 2,401,540 L, 794,813 5,922,668 5,045, 593 835, 962 41,113 690,639 127, 847 1,109,224 101,200 12 __ 6,190, 713 4, 376, 656 1, 998, 518 2,3?8,138 1,814,057 5,924,180 5,060,270 824, 853 39,057 681,870 66,355 1,052,136 100,410 19 6,194, 387 4, 374,329 2,031, 583 2, 342, 746 L, 820,058 5,896, 947 5,043, 375 819,394 34,178 689, 277 78, 505 1,055,655 103,832 26._ 6,189,841 4,362,413 2,039,015 2, 323,398 L, 827,428 5,924,105 5,071,960 819,333 32,812 702,458 55,305 1,070, 369 99,457 June 2 6,280, 773 4,436, 714 2,144, 395 2,292,319 L, 844,059 6,021,138 5,161,428 826, 898 32,812 729,631 106,955 1,142, 261 116,084 9 ._ 6,213,169 4,352, 791 2,043,419 2,309.372 L, 860,378 5,937, 556 5,087,922 816,822 32,812 699, 280 60, 425 1,045, 214 98,127 16 6,303,447 4,457, 547 2,058,724 2,398, 823 L, 845, 900 5, 976,182 5,120, 343 823,027 32,812 730,103 21, 740 1,065, 951 105, 939 23 6,188,494 4, 384,106 2,108,370 2,275, 736 L, 804,388 5,903,453 5,036, 073 834,568 32,812 701, 535 35, 635 1, 042,010 107, 798 30 6,370,607 4, 550,191 2,253, 678 2,296, 513 I, 820, 416 6,138,075 5,262,451 846,914 28, 710 709,170 49, 965 1,192, 923 109, 639 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7_ 6,298,165 4,477, 377 2,171, 501 2,305, 876 1,820,788 5, 943, 668 5,071, 545 844, 853 27,270 730, 516 184,321 1, 097,140 104,244 14_ 6,217,385 4,395, 478 2,106,308 2,289,170 1,821, 907 5,894,436 5,018,296 851,050 25,090 695, 788 103,946 1,083,184 112,167 21 _ 6,202, 583 4,386, 961 2,127, 267 2,259,694 |1,815, 622 5,878,271 5,000, 575 852, 606 25,090 682.173 82,051 1,070,204 103,193 28_ 6,179, 638 4, 377, 536 2,097,220 2,250,316 1,802,102 5, 838,947 4, 959. 321 854, 536 25,090 689, 749 98, 596 1,017,118 99, 781 Aug. 4_ 6,256, 888 4, 445. 574 2,158,890 2, 286, 684 1,811,314 5, 881, 524 4,996,953 859,481 25,090 680,678 115,284 1,106, 928 100, 533 11- 6,193,457 4,403. 967 2,118,302 2,285,665 1,789, 490 5,836,291 4, 937,124 877,187 21, 980 696, 529 138,173 1,045,715 90,716 18- 6,157, 791 4,372,812 2,082,930 2,289,882 1, 784, 979 5,793,935 4,910, 936 863, 204 19, 795 684, 261 99, 705 1,015,044 88, 619 25 _ 6,191, 533 4, 410, 354 2.106, 416 2, 303,938 1, 781,179 5,812, 753 4, 936,162 861, 545 15,046 655,113 92, 022 Sept. 1___ 6,249,330 4, 479,110 2,147,486 2,331,624 1, 770,220 5,892, 968 5, 012,380 865, 542 15,046 706, 460 121, 667 1,122, 212 93,816 6,229,100 4, 453, 302 2,103,474 2, 349,828 1,775,798 5,845,180 4, 979,941 850,193 15,046 684, 567 144, 500 1,052,889 6, 239, 775 4,490, 904 2.107, 912 2,382,992 1,748,871 6,003,476 5,106,057 834, 323 63.096 770,398 103. 856 1,095,749 108,645 22. 6,177,015 4, 444, 957 2,060, 516 2, 384,441 1,732,058 5,838,424 4, 951,193 824,135 63,096 137,105 1, 008, 631 102, 506 29 _ 6, 292,816 4, 552,145 2,122,062 2,430,083 1, 740, 671 5, 964, 497 5,077, 364 824,037 63, 096 699, 076 133,739 1,029,369 109, 209 Oct. 6. 6, 245, 983 4, 524, 913 2,058, 671 2,466,242 1,721,070 5, 902, 438 5,006,040 833, 302 63,096 647,133 91, 041 1,086,891 107,081 13. 6,184, 680 4,482, 809 2,031,045 2,451, 764 1,701,871 5,877,810 4, 987, 789 831,440 58, 581 667, 842 140, 489 1,092, 521 123,344 20, 6,151, 031 4, 450, 983 1,943,031 2, 507, 952 1, 700,048 5, 849,787 4, 979,163 827,376 43, 248 664, 958 44, 807 1,070,447 112,449 27 _ 6,135, 221 4,429, 930 1, 935, 681 2, 494, 249 1,705, 291 5, 822,196 4, 942,145 36, 763 669, 381 61, 286 1,017,955 101,451 O Nov. 3_ 6, 219,015 4, 500, 654 1, 968, 775 2, 531, 879 1,718,361 5,877.167 4, 980, 789 859, 615 36, 763 653,141 93, 940 1,146,936 111, 569 10 _ 6,128, 910 4, 433. 412 1, 904, 921 2, 528,491 ,695,498 5, 833, 324 4,930,422 871, 657 31, 245 675, 673 52,415 1, 041, 543 102, 577 17_ 6,145, 597 4, 436, 205 1,865, 074 2, 571,131 , 709,392 5, 860, 656 4, 962, 268 876, 513 21,875 690, 929 44, 795 1,032,967 99,248 24 _ 6, 203, 479 4,487, 393 1,911,550 2,575, 843 , 716, 086 5, 863, 396 4, 962, 706 19, 682 672, 049 93,500 987,305 97,148 r Dec. 1 I 6,279,466 4, 545, 088 1, 961,057 2, 584, 031 , 734, 378 6,005,135 5,085, 327 900,126 19, 682 724, 586 95, 795 1, 065, 643 105, 224 8___ 6,258,296 4, 511, 281 1, 927, 733 2, 583,548 , 747,015 5, 901, 094 4, 973, 816 907,594 19, 684 714,186 117, 509 1,022,694 89, 540 15 ' 6,241,179 4, 516,093 1, 969, 737 2. 546, 356 1,725,086 6,097, 764 5,147, 735 904, 703 45, 326 768, 479 49, 850 1,187, 530 98,644 22 I 6,314,202 4, 592, 247 2,066,138 2, 526,109 -., 721, 955 6, 005,176 5,060, 338 899, 512 45, 326 702, 992 116, 900 1,031,911 93, 412 29 I 6,451,287 4, 710, 397 2,168,988 2, 541, 409 , 740,890 6,144, 875 5, 202, 540 897,009 45, 326 716, 245 118,000 1,082, 464 96, 379 g to O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14a.—REPORTING MEMBER BANKS IN NEW YORK CITY—PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS to to [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrow- Month Total O L n o s a e n c s uri- I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- F re b w e s a d e i n e t r h k r v a e l in F r g e b e s s a d e n e f r r v r k o a e m l D ba u n e k t s o D b u a e n f k ro s m Total ties All other 1922 January 4, 762,049 3,573,039 1,379,372 2,193,667 1,189,010 4,665,791 4,285,953 302,148 77,690 580,708 91,861 885, 868 87,432 February. _ 4, 742,862 3, 500,309 1,333,512 2,166, 797 1,242,553 4,893,354 4,439,122 315,232 139, 000 571,407 70, 569 892,389 80,156 March 4,687,504 3, 509,804 1,341,950 2,167,854 1,177,700 4,638,103 4,216,111 334,309 87, 683 583,880 20, 547 910,980 80,043 April. 4,782, 632 3, 525,901 1,395,277 2,130,624 1,256,731 4,770, 985 4, 337,831 363,601 69, 553 591,348 23, 392 923,139 77,525 May 4,932,168 3, 549, 553 1,524,181 2,025,372 1,382,615 4,958, 377 1 4, 503,176 400, 998 54, 203 624,179 15, 021 968,112 72, 634 June 5,100,069 3, 568, 261 1, 593,352 1,974,909 1,531,808 5,136, 245 i 4,638,181 431,912 66,152 643,027 19, 239 968,858 75,390 July 5, 075, 779 3,496,403 I, 559,102 1,937,301 1, 579,376 5,076, 594 4,481,697 560,851 34, 046 635,920 51, 504 987,191 77, 744 August 5,045,303 3,452, 047 L, 502,214 1,949,833 1,593,256 5, 031, 672 4,360,430 601,569 69,673 596,396 19, 557 930,281 69,941 September.. 5,002, 829 3,471,797 t, 527, 681 1,944,116 1, 531,032 4,961, 895 4,340, 733 567,304 53, 858 573,275 24,337 922,135 71,123 October 5, 064, 555 3,544,420 L, 584,208 1,960,212 1, 520,135 5, 019, 899 4,401,479 546, 632 71,788 623,131 72, 015 974, 204 80,153 November.. 5,040, 554 3, 535,340 L, 601,482 1,933,858 1, 505, 214 4,951, 589 4,322,939 553,985 74, 665 591, 576 122,126 931, 852 85,424 December... 5, 084,113 3, 538,156 L, 588,095 1, 950, 061 1, 545,957 5,018, 881 4,324, 659 538, 505 155, 717 584, 262 112, 724 895,029 77,680 1923 January 5,304,460 3, 677,804 L, 642, 050 2, 035, 754 1,626,656 5,099, 314 4,483, 527 512, 000 103, 787 615,856 151,187 995,361 80,085 February, _. 5, 236, 557 3,658,413 L, 590,213 2,068,200 1, 578,144 4,991,937 4,454,521 494, 200 43, 216 607,914 182, 547 961,262 76,866 March 5,240,622 3,712,942 1,547,318 2,165,624 1,527,680 4,962,442 i 4,268,857 603,856 89,729 582,486 144, 057 957,461 75,428 April 5, 240, 733 3,743,493 L, 567,152 2,176,341 1,497,240 4,988, 587 4,222,552 636, 042 129,993 579, 794 122, 787 941,711 76,475 May 5,208,189 3,734,584 L, 572,556 2,162, 028 1,473,605 4,952, 766 4,201, 605 647,362 103,799 585,219 118, 736 896,497 77,961 June. 5,160,318 3, 663,987 L, 530,529 2,133,458 1,496,331 4,908,163 4, 210,876 634,939 62,348 586, 690 106,142 858,430 72, 777 July 5,173,555 3,672,900 L, 526,282 2,146, 618 1,500,655 4,905, 280 4, 229, 639 625, 945 49,696 582,641 142, 720 914, 231 77,982 August 5,018,865 3, 563,547 L, 382,539 2,181,008 1,455,318 4, 716, 688 4,070, 705 610,179 35,804 564,087 135,287 879,215 71,925 September.. 5,059,258 3, 632, 727 1,402,120 2,230,607 ], 426, 531 4, 768,289 4,109,148 619,493 39, 648 560, 741 125,120 861,904 70,959 October 5,104,404 3,666,872 L, 406,331 2,260,541 1,437,532 4,853, 062 4,205,194 613,204 34, 664 578,348 121, 078 898, 780 74,296 November. . 5,069, 583 3,627,211 L, 407,103 2,220,108 1,442,372 4,871,901 4, 256, 711 600,454 14, 736 574,220 76,118 907, 817 78,096 December... 5,105, 591 3, 660, 586 ]L, 473,401 2,187,185 1,445,005 4, 872,991 4,234,168 608, 653 30,170 575, 228 76,603 932,477 74, 534 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January--. 5,184,938 3, 726, 086 1, 563,438 2,162, 648 1,458,852 4,989,898 4,339,819 610,211 39, 868 614, 033 84,513 1,008,628 81,846 February_ 5,182,575 3, 725, 449 1,503,897 2, 221, 552 1,457,126 4,961,850 4,329, 013 597, 929 34,917 587, 291 81, 064 971,625 74,251 March 5,216,614 3, 787, 672 1, 500, 573 2,287,099 1,428,942 5, 038,102 4, 372, 227 618, 944 46,931 617,307 36,438 1,002,572 72,474 April 5, 258,173 3, 780,895 1, 512,165 2,268,730 1,477,278 5, 095,899 4, 390,960 650, 530 54,409 621,033 45, 066 993,530 75, 586 May 5, 298,368 3, 737, 756 1,513,542 2,224,214 1,560, 612 5,158, 968 4,467,531 655,177 36, 260 621, 276 21,781 964,802 77,174 June 5, 520, 344 3, 868,345 1,650,757 2,217, 588 1,651,999 5,460,222 4, 780, 286 657, 775 22,161 689,995 6,124 1,105,626 80,686 July___. 5, 687, 256 3, 992,157 1, 784, 773 2, 207,384 1,695,099 5,640, 537 4,937,110 684, 839 18, 588 693,155 13,496 1,204,545 87,891 August. 5,838,813 4,092, 215 1,830,157 2, 262,058 1,746, 598 5,795,169 5,060,868 717, 755 16,546 710,901 7,600 1,226,771 September _. 5,919, 614 4,105, 673 1,867,104 2,238,569 1.813,941 5,885,016 5,124, 559 735, 235 25,222 735, 575 22,239 1,238,102 90,176 October 6,107,015 4,190,090 1,869,882 2,320,208 1,916,925 6,062,666 5,237,267 787,451 37,948 733, 096 28,124 1,250,070 92, 503 November.. 6,180,051 4,203,679 1,886,070 2,317,609 1,976,372 6,140,722 5, 284, 811 825, 001 30,910 702, 745 15,160 1,216,585 90,622 December... 6, 224, 739 4, 309,807 2, 003, 554 2,306, 253 1, 914, 932 6,210, 568 5,372,034 813,968 24, 566 754, 643 35,314 1,205,136 86,730 1925 January 6,208,338 4, 349, 466 2,023, 402 2,326,064 1, 858, 872 6,143, 515 5, 321, 895 800,071 21, 549 719, 245 32, 073 1,225, 530 94, 812 February 6,060,301 4, 291, 531 2,026,971 2, 264, 560 1, 768, 770 5, 942,126 5,134,064 790,728 17, 334 722, 609 124, 050 1,176, 847 101, 540 March 6,019,391 4, 265, 986 2,029, 547 2,236,439 1, 753,405 5, 864, 288 5.042, 669 786, 446 35,173 700, 542 108, 600 1,110, 852 109,195 April 6,045, 358 4, 262,119 % 005, 300 2, 256,819 1, 783, 239 5, 919, 877 5, 058, 339 817, 459 44,079 691, 317 66, 942 1,124, 606 107,482 May 6,030, 730 4, 246, 494 2, 020,125 2, 226, 369 1, 784, 236 5, 913, 925 5,046,019 839, 442 28, 464 691,915 56, 650 1,048,504 105, 570 June 6, 035, 864 4, 223, 308 2,051,638 2,171, 670 1,812,556 5, 882, 777 5.043, 520 820, 320 18, 937 688, 701 79,065 1, 084, 879 108, 560 July..... 6, 032, 991 4, 227, 779 2,083, 317 2,144,462 1, 805, 212 5, 882, 289 5, 086, 266 785, 575 10,448 691, 828 75, 657 1, 074, 207 121,183 August.. 6,007, 333 4, 217, 469 2,052, 720 2,164, 749 1, 789, 864 5, 789,060 4, 995,005 6,773 693, 702 124, 326 1, 021, 646 97, 295 787, 282 September 6,054, 713 4, 306, 518 2.080, 495 2, 226,023 1,748,195 5, 827, 404 5. 009, 420 788, 862 29,122 702, 267 145, 605 1,057,114 100, 743 October... j 6,149,556 4, 407, 657 2,113, 655 2, 294,002 1, 741, 899 5, 924, 765 5,107, 259 785,141 32, 365 698, 878 124,025 1, 072, 352 106, 798 November I 6,220,304 4, 481, 519 2,173, 908 2,307, 611 1,738, 785 6,001,316 5, 206, 769 778, 321 16, 226 709,169 97, 879 1,080,185 110, 099 December 6, 277, 640 4, 561, 892 2, 283, 961 2, 277, 931 1, 715, 748 6,036, 852 5, 203, 886 792,173 40, 793 730,105 136, 934 1,085, 404 103, 767 1926 January. _ . 6, 284, 740 4, 564, 944 2, 309,197 2, 255, 747 1, 719, 796 6,053, 889 5,195, 951 807, 002 50, 936 709, 758 75, 472 1,125, 909 101, 482 February. 6, 220,142 4, 456, 823 2, 200, 581 2, 256, 242 1, 763, 319 5, 928, 887 5,075,817 803, 075 49, 995 702, 463 127,771 1,083, 501 96, 667 March 6, 213,131 4, 445, 643 2,086, 948 2,358, 695 1,767,488 5,958, 380 5,090, 730 813, 334 54, 316 714, 907 93, 553 1,116,084 96,886 April 6,153,095 4, 380, 788 2,028, 330 2,352,458 1, 772,307 5, 888,105 5,012, 636 828, 021 47, 448 706, 419 90, 329 1,086, 318 108,123 May.... 6, 209,147 4, 395, 058 2, 033, 603 2, 361,455 1, 814,089 5, 916, 976 5,055, 300 824, 886 36, 790 691,061 82,003 1,071,846 I 101, 225 June 6, 271, 298 4, 436, 270 2,121, 717 2, 314, 553 1, 835,028 5, 995, 281 5,133, 643 829, 646 31,992 713, 944 54, 944 1,097,672 107, 517 July 6, 224, 442 4, 409, 338 2,125, 574 2, 283, 764 1, 815,104 5, 888, 830 5, 012, 434 850, 761 25, 635 699, 557 117, 229 1,066, 912 104, 846 August.. 6,199,917 4,408,177 2,116.635 2,291, 542 1, 791, 740 5, 831,126 4,945, 294 865, 354 20, 478 679,145 111,296 1,040,250 91, 973 September 6,237,607 4, 484,084 2,108, 290 2,375, 794 1, 753, 523 5,908, 909 5,025,387 839, 646 43, 876 711, 833 128,173 1,061,770 102,495 October __j 6,179,229 4, 472,159 1, 992,107 2, 480, 052 1, 707,070 5, 863,058 4, 978, 784 833,852 50, 422 662, 329 84, 406 1,066,954 111,081 November | 6,174,250 4, 464, 416 1,912,580 2, 551, 836 1, 709, 834 5, 858, 635 4, 959,046 872,198 27, 391 672, 948 71,162 1,052,188 102, 636 December j 4, 575,021 2,018, 731 2, 556, 290 1, 733, 865 6,030, 809 5,093, 951 901, 789 35,069 725, 298 99,611 1,078,048 96, 640 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14b.—BROKERS' LOANS: LOANS TO BROKERS AND DEALERS SECURED BY STOCKS AND BONDS MADE BY WEEKLY REPORTING MEMBER to BANKS IN NEW YORK CITY [In thousands of dollars] Loans on demand and on time Loans on demand Loans on time g For ac- For ac- For ac- d Date (Wednesday) Total F a o cc r o o u w n n t c o o t u o u t w n -o t n f o - f c F o o o t u h r n e a t r c s o - f Total F ac o c r o o u w n n t c o o t u o u t w n -o t n f o - f c F o o o t u h r n e a t r c o s - f Total F a o cc r o o u w n n t c o o t u o u t w n -o t n f o - f c F o o o t u h r n e a t r c o s - f M £ banks banks banks 1926 Jan. 6 3,141,125 1,338,259 1,239,344 563,522 2,223,315 871,634 851,515 500,166 917,810 466,625 387,829 63,356 H 13 3,132,542 1,267,015 1,292,408 573,119 2,197, 200 795, 796 892, 935 508,469 935,342 471,219 399,473 64,650 o 20 3,130,989 1, 231,691 1,306,294 593,004 2,184, 780 755,315 902,733 526, 732 946,209 476,376 403, 561 66,272 fe 27 3,098,192 1, 200,914 1,287,367 609,911 2,135, 023 705,906 887,238 541,879 963,169 495,008 400,129 68,032 Feb. 3 3, 091,997 1,221,842 1,280,143 590, 012 2,138, 688 735,919 881,189 521,580 953, 309 485,923 398,954 68,432 jr 10. 3,137, 588 1,199,307 1,340,433 597,848 2,171,352 710,509 934,368 526,475 966, 236 488, 798 406, 065 71,373 £ 17 ..... 3,138, 724 1,158, 905 1,354,170 625,649 2,160,138 665,474 945,399 549,265 978, 586 493,431 408, 771 76,384 24 3,109,331 1,149,391 1,342,665 617, 275 2,139,272 667,788 925, 239 546,245 970, 059 481, 603 417,426 71,030 Hrj Mar. 3 3,048, 392 3,125,071 1,321,265 602,056 2,067,948 641,676 895, 741 530,531 980,444 483,395 425,524 71,525 b 10 2,885,609 1,021,191 1,265,957 598,461 1,932,222 549,598 853,583 529,041 953,387 471,593 412,374 69,420 g 17 2,803,949 1,033,474 1,174,493 595,982 1,886,365 568,061 792,042 526,262 917, 584 465,413 382,451 69,720 # 24 2,690,199 1,026,53*9 1,098,252 565,408 1,798,781 571,317 734,063 493,401 891,418 455,222 364,189 72,007 > 31 2,573,051 1,047, 784 1,006,411 518,856 1,704,040 604,801 650,581 448,658 869,011 442,983 355,830 70,198 " Apr. 7 2,487,352 958,386 1,018,156 510,810 1,636,724 524, 752 667,372 444,600 850,628 433,634 350,784 66,210 3 14 2,451,339 876, 765 1,051,878 522,696 1,613,156 438,096 713,937 461,123 838,183 438,669 337,941 61,573 OQ 21 2,464,679 885, 590 1,044,378 534,711 1,655,909 458,497 720,577 476,835 808,770 427,093 323,801 57,876 fej 28 2,463,697 897,940 i, 023,681 542,076 1,672,651 466,270 717, 018 489,363 791,046 431, 670 306,663 52,713 W May 5 2,489,391 974,957 1,007,731 506,703 1,721,935 554,280 710,037 457,618 767,456 420,677 297,694 49,085 H 12 2,480, 280 888,427 1,056,284 535,569 1,737,698 487,197 769,192 481,309 742,582 401,230 287,092 54,260 ,. 19. 2,408, 695 894,171 963,751 550,773 1,688,735 503,168 694,462 491,105 719,960 391,003 269,289 59,668 «J 26 2,431,505 893,138 965,446 572,921 1,728,086 520,876 692,351 514,859 703,419 372,262 273, 095 58,062 g June 2. 2,492,849 959,976 945,220 587,653 1,800,488 592,372 680, 228 527,888 692,361 367, 604 264,992 59,765 2 9 2,474,175 898,824 968,790 606,561 1, 799,275 544,115 709,969 545,191 674,900 354, 709 258,821 61,370 w 16 2,517,410 926, 394 981,788 609,228 1,843,232 567, 982 729,330 545,920 674,178 358,412 252,458 63,308 23 2,532,898 974, 700 942,764 615,434 1,859,579 617,828 691,400 550,351 673,319 356,872 251,364 65,083 30 2,565,177 1,102,844 883,587 578, 746 1,889,762 744,766 635,947 509,049 675,415 358, 078 247,640 69,697 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7 2, 602, 788 1,019,298 951,852 631, 638 1,940,069 663,030 704,437 572, 602 662,719 356,268 247,415 59,036 14 2, 601, 257 932,813 1,016,148 652, 296 1,924,965 569,625 766, 037 589,303 676,292 363,188 250, 111 62,993 21 2,620,952 954,368 1,018,361 648, 223 1,941,115 600,847 754,429 585,839 679,837 353,521 | 263,932 62.384 28. 2, 602,042 933,881 1, 014,859 653,302 1, 938, 039 588,019 760,768 589,252 664,003 345,862 ] 254,091 64,050 I Aug. 4 2, 688, 717 994, 572 1,024,766 669,379 1,996,058 649,214 759,158 587,686 692, 659 345,358 265, 608 81,693 11. 2, 720,332 936, 741 1,089, 093 694,498 2, 031, 031 590,145 820,223 620,663 689,301 346, 596 268,870 73, 835 18 2, 742,388 918,775 1,104, 676 718,937 2,041, 710 579,975 817, 670 644, 065 700,678 I 338,800 287,006 74,872 25 2, 731,210 941, 544 1,072, 654 717,012 2.043,623 622,311 775,691 645, 621 687, 587 319,233 296,963 71,391 Sept. 1. 2, 758,274 991,437 1,098,091 668, 746 2, 049,160 672, 589 785,304 591, 267 709,114 318,848 312,787 77,479 8. 2, 763, 029 963,901 1,134,421 664, 707 2, 063, 763 651,795 817, 814 594,154 699, 266 312,1G6 316,607 70, 553 15 2,820, 382 971,812 1,163,359 685, 211 2,117,151 653, 010 845, 778 618,363 703, 231 318,802 317,581 66,848 22 2, 762,432 931,374 1,132,094 698,964 2,042,828 609, 922 803,550 629,356 719,604 321,452 328,544 69,608 29 2,812, 971 1, 009,962 1,111,751 691,258 2,095, 270 691,396 783, 001 620,873 717,701 318, 566 328,750 70.385 Oct. 6. 2,809, 007 953,508 1,144, 063 711,436 2.080,624 625,182 812, 767 642, 675 728,383 328,326 331,296 68,761 13 2,727, 054 891,053 1,120, 735 715, 266 1,998,184 568,991 784, 521 644,672 728,870 322,062 336,214 70,594 20. 2,655,118 1,109,454 727,041 1,940,459 508,603 775,126 656, 730 714, 659 310,020 334,328 70,311 27. 2,602,196 800,673 1, 050,892 750, 631 1, 883,489 493,998 720,516 668,975 718, 707 306,675 | 330,376 81,656 Nov. 3. 2,640,379 839,582 1,047,443 753,354 1, 929, 519 541,378 720, 222 667,919 710, 860 298,204 | 327,221 85,435 10. 2,603,006 797, 685 1,059,765 745, 556 1,894,344 497,416 736, 519 660,409 708,662 300,269 323,246 85,147 17. 2,609,024 799,296 1,055,529 754,199 1,906,753 500,969 736, 532 669,252 702,271 298,327 318,997 84,947 24. 2,608,283 1, 030,998 738, 723 1,915, 567 542,174 720, 707 652, 686 692,716 296,388 310,291 86,037 I Dec. l. 2,646,653 883,047 1,026,355 737, 251 1,960,274 586, 243 721,188 652,843 Q86,379 296,804 305,167 84,408 8. 2, 638, 528 813,368 1,062,969 762,191 1,956,124 523.154 759,148 673,822 682,404 290, 214 303,821 15, 2, 692,450 825,465 1,074,765 792, 220 1,996, 696 532,910 761,970 701,816 695, 754 292, 555 312,795 90,404 22. 2, 723,465 906,973 1,037,103 779,389 2,037,857 617,885 727,674 692,298 289,088 309,429 87,091 29. 2, 787, 761 1,008,235 1,021,747 757,779 2,108,872 721, 507 714,474 672,891 286,728 307,273 84,888 fed s4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14c.—BROKERS' BORROWINGS: BORROWINGS ON COLLATERAL, IN NEW YORK CITY, REPORTED BY MEMBERS OF THE NEW YORK to STOCK EXCHANGE 1 [Net borrowings. In thousands of dollars] Total Borrowings from- I Date New York banks and trust Private banks, brokers, foreign Total On On time companies banking agencies, etc. demand Total On demand On time I 1926 Jan. 30 (Saturday) 3,513,174 2,516,961 996,213 3,043,044 2,122,915 920,129 470,130 394,046 76,084 Feb. 27 (Saturday) - 3,535,590 2,494,846 1,040,744 3,080,286 2,122,564 957,722 455,304 372,282 83,002 Mar. 31 (Wednesday) 3,000,096 2,033,484 966,612 2,553,101 1,678,110 874,991 446, 995 355,374 91,621 Apr. 30 (Friday).- 2,835,719 1,969,870 865,849 2,468,248 1,698,526 769.722 367,471 271,344 96,127 May31 (Monday)- 2,767,400 1,987,316 780,084 2,392,274 1,702,551 689.723 375,126 284,765 90,361 June 30 (Wednesday) 2,926,298 2,225,454 700,845 2,509,114 1,851,694 657,420 417,185 373,760 43,425 July 31 (Saturday) 2,997,760 2,282,977 714,783 2,582,548 1,917,959 664,589 415,210 365,017 50,193 Aug. 31 (Tuesday) 3,142,148 2,363,861 778,287 2, 697,745 1,984,469 713,276 444,403 379,392 65,011 Sept. 30 (Thursday) — 3,218,937 2,419,207 799,730 2, 745,266 2,021,336 723,930 473,671 397,871 75,800 Oct. 30 (Saturday) 3,111,176 2,289,430 821,746 2, 667,482 1, 924,191 743,291 443, 694 365,239 78,455 Nov. 30 (Tuesday). 3,129,161 2,329, 536 799,625 2,636,180 1,932,492 703,688 492,981 397,044 95,937 Dec. 31 (Friday) 3,292,860 2,541,682 751,178 2,803,585 2,127, 996 675, 589 489,275 413,686 75,589 i Figures published by New York Stock Exchange. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2—NEW YOEK 267 No. 14d.—STREET LOANS PLACED BY NEW YORK CITY DAILY REPORTING BANKS, 1917-1926 [Monthly averages of weekly figures. In millions of dollars] Loans o t n i m ca e ll and on Call loans5 Time loans Month Total ac o F c w o o u r n nt s c p e F o o n r o n r t r e s d - - Total ac o F c w o o u r n nt s c p e o F o n r o n r t e r s d - - Total ac o F c w o or u n n « t s c p e F o o n r o n r t r e s d - 1917 October 903 688 214 593 463 130 309 225 84 November 767 613 154 507 419 88 260 194 66 December 685 556 128 498 414 84 186 142 44 1918 January 558 444 114 466 372 94 92 72 20 February 627 492 135 471 367 104 156 125 31 M^arch 660 487 174 493 366 137 168 131 37 April 631 464 167 471 342 129 160 122 38 May 671 492 180 514 369 145 158 123 35 June 700 519 181 541 389 152 159 130 29 July 705 549 156 543 413 130 162 136 26 August 740 563 177 589 438 151 151 125 26 September 768 580 188 656 491 165 112 89 23 October 771 580 191 687 517 170 84 63 21 November 765 558 207 667 481 186 98 77 21 December 744 519 225 629 - 434 195 115 85 30 1919 January 781 544 237 640 449 191 141 95 46 Februarv 778 528 250 628 427 201 150 101 49 March 826 535 291 667 427 240 159 108 51 April 918 604 314 742 480 262 176 124 52 M!ay 1 067 678 389 864 541 323 203 137 66 June 1 230 760 469 976 591 385 253 169 84 July 1 321 775 547 1,039 585 454 283 190 93 August 1,328 744 584 1,028 551 477 300 193 107 September 1 299 715 584 960 509 451 339 206 133 October 1 422 782 641 1,064 569 495 359 213 146 November 1 417 682 735 1,077 494 583 340 188 152 December 1 305(- 633 673 1 005 477 528 301 156 145 1920 January 1 324 656 668 1,051 527 524 273 129 144 February 1 144 482 662 918 388 530 226 94 132 March 1 080 449 631 881 368 513 199 81 118 April 1 099 476 622 913 401 512 185 75 110 May 1 015 429 585 842 353 • 489 172 76 96 June 943 425 518 786 347 439 157 78 79 July 928 405 522 800 345 455 127 60 67 August 873 347 525 757 297 460 115 50 65 September 868 341 528 755 291 464 114 50 64 October 939 399 540 828 349 479 111 50 61 November 906 344 561 797 298 499 108 46 62 December 835 1 358 • 477 728 309 419 107 49 58 1921 January _ _ . 785 345 441 683 291 392 103 54 49 February . 778 326 452 682 275 407 96 51 45 March ... 778 320 458 682 265 417 96 55 41 April 752 316 436 661 265 396 1 91 51 40 May 773 317 456 685 271 414 88 46 42 June 773 338 437 690 292 398 85 46 39 July 734 338 396 640 281 359 94 57 37 August.. _ _ . . 719 348 371 613 281 332 106 67 39 September __ 723 350 374 605 271 334 119 79 40 October . 772 404 368 644 316 328 128 88 40 November. . 831 434 398 695 338 357 137 96 41 December _ 879 483 396 727 377 350 152 106 46 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

268 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD No. 14d.—STREET LOANS PLACED BY NEW YORK CITY DAILY REPORTING BANKS, 1917-1926—Continued [ Monthly averages for weekly figures. In millions of dollars] Loans on call and on time C'all loans Time loans Month Total ac o F c w o o u r n nt s c p e F o o n r o n r t r e s d - - Total ac o F c w o o u r n nt s c p e o F o n r o n r t r e s d - - Total ac o F c w o o u r n nt s c p e F o o n r o n r t r e s d - - 1922 January 956 533 424 785 405 380 172 128 44 February 997 518 478 824 390 434 172 128 44 March 1,028 538 491 828 388 440 201 150 51 April 1,144 634 509 869 422 447 274 212 62 May 1,312 750 562 957 465 492 355 285 70 June 1,404 823 581 1,002 505 497 402 318 84 July.. 1,396 804 592 994 492 502 402 312 90 August . 1,417 786 631 988 462 526 429 324 105 September 1,474 824 649 1,039 505 534 434 319 115 October 1,586 866 721 1,131 542 589 456 324 132 November _ 1,545 816 728 1,056 474 582 488 342 146 December 1,473 770 703 990 436 554 483 334 148 1923 January 1,572 827 745 1,079 495 584 493 332 161 February __ 1,616 817 800 1,168 516 652 449 301 148 March 1,636 816 819 1,200 521 679 435 295 140 April... 1,636 803 833 1,207 519 688 429 284 145 May . ... 1,603 806 799 1,163 512 651 441 294 147 June 1,480 752 727 1,034 446 588 445 306 139 July. 1,338 687 651 929 395 534 409 292 117 August. 1,226 565 659 872 315 557 354 250 104 September ,. 1,213 560 652 904 360 544 308 200 108 October 1,186 547 639 879 358 521 307 189 118 November - 1,159 529 629 839 334 505 319 195 124 December. - 1,203 571 632 882 367 515 321 204 117 1924 January 1,350 669 681 1,011 453 558 339 216 123 February 1,389 643 746 1,031 413 618 358 230 128 March 1,416 696 721 1,041 -452 589 376 244 132 April 1,414 680 734 1,037 435 602 377 245 132 May . 1,390 666 724 1,010 418 592 380 248 132 June - - 1,448 796 651 1,045 520 525 402 276 126 July 1,542 917 626 1,116 598 518 427 319 108 August - - 1,649 1,015 633 1,181 661 520 467 354 113 September - V688 1,014 675 1,203 660 553 486 364 122 October 1,685 963 722 1,188 588 600 497 375 122 November .. 1,706 993 713 1,179 603 576 527 390 137 December 1,863 1,074 789 1,299 674 625 564 400 164 1925 January. 2,022 1,086 935 1,400 654 746 621 432 189 February . 2,086 1,047 1,039 1,423 597 826 663 450 213 March - - _ 2,119 1,005 1,113 1,449 560 889 669 445 224 April 2,071 998 1,073 1,392 565 827 679 433 246 May . 2,154 1,010 1,145 1,484 581 903 671 429 242 June i_ . 2,239 1,039 1,200 1,548 592 956 691 447 244 July 2,288 1,062 1,225 1,568 605 963 719 457 262 August. . 2,304 993 1,311 1,535 526 1,009 769 467 302 September 2,370 987 1,382 1,605 555 1,050 764 432 332 October 2,550 1,006 1,544 1,769 592 1,177 781 414 367 November _ _ . 2,717 1,064 1,653 1,872 640 1,232 845 424 421 December 2,800 1,152 1,648 1,908 722 1,186 892 431 462 1926 January . 2,891 1,221 1,670 1,937 755 1,182 954 466 488 I NOTE.—These figures, on a weekly basis, with a description of them, were published in the Federal Reserve Bulletin for November, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2 NEW YOKK 269 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 7 centers * Albany, N. Y. Binghamton, N. Y. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 31,406, 762 28, 500,61622, 814,899 124,102 118,313 95, 786 23,442 22,478 20,616 February... 25, 533,666 23, 574,73020, 511,857 128,135 97,325 108,023 19,276 18,655 18,466 March 33,824,813 27,165, 00722,227,152 176,635 117,452 22,281 20, 495 18, 673 April 30,125, 626 24, 721,15321,356,913 147, 856 142,297 130,184 23,173 22,227 20,286 May _. 27,374,249 26,976, 54922,124,834 172,184 141,679 129,640 21,929 21,835 19,600 June 29,063,449 27, 764,38122,639,521 131,448 143,041 117,293 21, 660 23,317 19,662 July 28,566,396! 26,277,206 22,184,731 124,115 119,183 24,422 23,159 20,146 August 26,968,491124,018,796 21,556,426 114,476 116, 634 109,237 22,965 22,156 18, 292 September- 26,367,283125,113,684 21,387,861 111, 227 111, 284 110,099 21,994 20,985 18,709 October 29,606,350' 29,811,977 23,242,131 127,635 129,639 130,482 24,758 23,855 20,995 November.. 26,555,199 27,771, 58323, 708,849 120,565 103,270 109,444 21,589 21,236 18,773 December. _ 33,440,912| 31,147,498 28,106,044 132,707 139,476 133, 409 22, 521 22,419 20,740 Total. 348,833,196322,843,180 271,861,218 1, 608,214 1,543,708 1,410,232 270..010 262,817 234,958 I I Buffalo, N.Y. Elmira, N. Y.* Jamestown, N. Y.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 406,644 362, 514 325, 276 19,437 18,448 17,010 22,129 20,414 18,354 February... 317,201 281,130 273,827 16,991 15, 701 16,578 18,960 18,277 16,442 March 356,920 315,440 293,111 18,152 17,684 17,100 22,342 20,076 April 362,936 339,876 300,427 18,850 18,831 17,815 21,708 19,889 18,316 May 332, 584 354,750 311,380 19,063 18,477 19,291 20,110 19,656 June 390,386 351, 598 302, 529 21,065 21,064 17,305 21,258 20,950 17,884 July. 409,245 369,988 311,743 23,619 21,203 19,839 22,974 22,644 18,547 August 335,703 350,087 275,722 18,175 17,995 16,812 20,397 22,556 17,823 September. 332,805 336,633 279,808 18,570 17,881 16,834 20,626 20,587 17,382 October 371,344 417,485 326,222 19,776 19,544 18,509 21,017 25,610 18,797 November.. 335,072 361,446 301,806 17,947 16,923 15,346 20,535 19,994 17,547 December.. 371,312 367,222 328,115 20,923 17,822 19,300 23,209 21,581 20,899 Total. 4,322,152 4,208,169 |3,629,966 232,568 221, 573 211,739 255,265 252,234 219,554 Montclair, N. J.* Newark, N. J.* New York, N. Y. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 21,028 17,928 15, 754 382,978 331,790 300, 60730,537,751 27, 681, 89422,113,958 February 17,010 13,954 12,038 303,240 268,676 246,199 24,812,705 22,924,386 19,886,015 March 22,505 17, 468 15,212 371,997 301,410 275,008 33,005, 53726,382,213 21,546,482 April 22,886 16,320 14,591 362,416 302,182 281,195 29,299,814 23,944, 58020, 653,978 May,. 23,464 17,862 16, 246 360,271 309, 691 292,074 26,570,853 26,179,393 21,405,560 June 25,161 20,543 16, 572 408,657 352,315 298, 59028,196,065 26,929,559 21,925,659 July 21,907 19, 553 15,107 379,592 337,484 290,065 27,659,188 25,457,692 21,468,874 August _. 20,399 16,158 13, 756 323,080 317,296 266,790 26,233,317 23,265, 28020,915,784 September 20,836 16,960 14,693! 356,919 320,244 287,507 25,618,089 24,369,457 20, 734,467 October 21,110 19,889 16,191 400,404 372,594 302,670 28, 754,80928,916,175 22, 505,693 November 21,021 19,471 15,937 354,545 342,816 270,355 25,790,318 27,009,433 23,046,934 December 25,100 23,474 19,548 410,315 400,785 344, 41332,576,802 30,313,358 27,327,223 Total... 262,427219, 580185, 6454, 414,414 3,957,283 3,455,473 339,055,248 313,373,420|263,530, 627 i Figuresrfor cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 cities. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

270 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] I Northern New Jersey Clear- | ing House Association * Passaic, N. J. Poughkeepsie, N. Y.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January | 245,234 231,561 204,194 43,029 39.149 34,142 17,604 17,305 14, 543 February ! 190,746 175,904 171,097 34,604 31,871 30,044 15,066 13,940 14,526 March : 226,103 200,129 186, 764 42,314 35,811 32,716 15,929 14,891 14,089 April 255,940 208,827 193,357 39,972 38.150 34,626 16,027 14, 627 14,170 May 213,706 195,926 210,983 40,944 40,374 34,269 15,420 14,972 14,383 June 254,126 223,966 202,052 45,139 42,394 33,453 15,828 15,351 13,781 July 268,541 222,309 209,713 45,744 43,311 33,732 18, 571 18,480 15,474 August 200,843 183,538 174,956 38,612 38,161 29,992 15,015 15,488 13.196 September 214,568 198,445 183,837 40,129 40,446 32,047 14,361 14,939 14,016 October 247,521 230,616 210,298 45,241 49,781 31,581 15,782 16,795 15, 538 November 237,054 200,032 181,741 43,408 42,898 31,569 15,034 14,659 13.197 "December 310,814 230,309 238,872 51,036 48, 520 39,100 16, 526 16,920 15,240 Total 2,865,196 2,501,562 2,367,864 | 510,172 490,8 | 397,271 191,163 j 188,367 172,153 Rochester, N. Y. Stamford, Conn.* Syracuse, N. Y. Month 1926 1925 ! 1924 192C 1925 1924 1926 1925 1924 January 191,080 200,782 157,817 15, 509 13,448 12,549 80,714 75,486 67,304 February... 154,857 162,255 133,526 12,185 11,456 11,673 66,888 59,108 61,956 March 176,236 151,996 14,602 12,568 12,103 72, 542 67,725 66,722 April 172,810 162,112 150,678 15,436 13,595 13,319 79,065 71,911 66,734 May 162,015 166,609 154,776 16,745 15,094 15,629 73,740 71,909 69,609 June 192,063 197,082 171,608 18,375 20,502 14,808 77,390 69,317 July 185,312 175,232 163,181 17,281 15,743 13,546 83,709 67,872 August 152,875 150,496 144,425 14,720 15,117 12,102 70,543 75,982 62,974 September. 165,507 164, 678 144,296 15,017 16,178 12,877 77,532 70,201 October 195,317 187, 513 157,605 18,493 19,331 15,445 87,246 87,529 69, 553 November- 163,021 161,000 138,038 15,340 15,063 12,063 81,226 72,300 62,285 December. . 195,369 181,630 188, 544 15,040 16,085 13,458 91,165 74,873 68,913 Total, 2,106,462 12,076,077 1,856,490 188,743 184,180 159,572 888,123 801,674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 2—NEW YOEK 271 No. 16.—MONEY RATES X IN NEW YORK AND BUFFALO [ Rates prevailing during week ending with 15th of month] NEW YORK CITY Loans secured by Month c l o P o m c r a i i n m m a s l e e 2 r- I b l n o a a t n e n r k s - c p h ri a m ng e e s c t o o l c l k at e e r x a - l b r s y e L e h c c o o w e u u a i r a s n p e r e s t d e s - C lo a a t n tl s e Demand Time 1926 January.. 43^-5 434-5 5 -5H February 434-5 4 434-5; 5 March 434-5 434-5 5 -534 April , 4^5 434-5 4^ 5 5 -5>' May 41^-5 434-5 5 -6 J J u un ly e ._ 4 3 -4 41 M 4 4 4M ^- - 4 5 34 434 4 43 ^ 4-5M August _ 4%_ 43^-5 434-4^ 5 September I 434-434 43^-5 5 5 N O o ct v o e b m er b er i ! 4 4 3 3 4 4 ~ - 4 4 : r ' 4K-5 5 434-5 5 34 5 -5 5 34 December _! 434-4; 43^-5 5 434-5 BUFFALO 1926 i January | 5 -6 4^-534 5 -6 5 -6 February I 5 -6 5 -6 5 -6 5 -6 March I 5 -6 5 -6 5 -6 5 -6 ApriL_ I 5 -6 534-6 5 -6 5 -6 May i 5 -6 5 5 -6 5 -6 June—, ..; 5 -6 434-5 434-6 5 -6 July _ 1 5 -6 43^-5 5 -6 5 -6 August ! 5 -6 5 -6 5 -6 September I 5 -6 434-5 5 -6 5 -6 October i 5 -6 •454-0 5 -6 5 -6 November \ 5 -6 434-5 5 -6 5 -6 December.. 5 -6 434-5 5 -6 5 -6 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bul& of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925. Part II, Table 12, ^ Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 3—PHILADELPHIA No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] De 1 c 9 . 2 6 31, De 1 c 9 . 2 5 31, De 1 c 9 . 2 4 31, De 1 c 9 . 2 3 31r Gold with Federal reserve agent 105,842 141,173 168,237 181, 069' Gold redemption fund with United States Treasury 13,597 7,348 4,480 4,659 Gold held exclusively against Federal reserve notes | 119,439 148, 521 172, 717 185,728 Gold settlement fund with Federal Reserve Board | 32,699 48,884 31,137 29, 939 Gold and gold certificates held by bank | 27,919 19,407 27, 713 33,367 Total gold reserves 180,057 216,812 231, 567 249,034 Reserves other than gold 5,266 4,910 4,994 10, 747 Total reserves \ 185,323 221, 722 236,561 259, 781 Nonreserve cash j 1,611 1,716 1,731 1,345 Bills discounted: j Secured by United States Government obligations 46,556 34,450 27,411 42,814 Other bills discounted 21,285 18,807 8,873 16,110 Total bills discounted 67,841 53,257 36, 284 58,924 Bills bought in open market 16,923 18,276 33,261 United States Government securities: Bonds. 585 604 1,345 747 Treasury notes _ | 15,388 4,016 24,127 12,058 Certificates of indebtedness _ 4,257 19,443 4,417 147 Total United States Government securities. 20,230 24,063 29,889 12, 952 Other securities _ 2,000 3,050 1,550 Foreign loans on gold 725 582 Total bills and securities I 116,910 98, 018 86,581 105,137 Uncollected items.. 64,554 65, 526 59,473 53,356 Bank premises 1,704 1,385 1,114 1, 111 All other resources. 302 133 203 184 Total resources 370,404 388,500 385,663 420,914 LIABILITIES Federal reserve notes in actual circulation. 134,067 155,933 168, 737 221,038 Deposits: Member bank—reserve account. 139,247 139,272 129, 677 119,129 Government 1,019 1,256 2,152 2,437 Foreign bank 2,675 768 179 140 Other deposits 443 627 197 Total deposits. 143,030 141,739 132,635 121,903 Deferred availability items.. 59,202 58, 539 53, 591 47,805 Capital paid in 12,605 11,623 10, 518 9,941 Surplus 21,267 20,464 20,059 19,927 All other liabilities 233 202 123 300 Total liabilities. 370,404 388, 500 385, 663 420,914 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent)— 66.9 74.5 78.5 75.8 Contingent liability on bills purchased for foreign correspondents. 5,363 6,541 4,140 1,633 272 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 3—PHILADELPHIA 273 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OP FEDERAL RESERVE BANK BY WEEKS %& [Amounts in thousands of dollars] Bills discounted for member banks Mem- Fed- Date s T t b e a i o n e c il d t s u l a s r l i- Total c U G e u S b r o . r n e y S v e - - . - d c O b d o t i i u h s l - l n e s r t- b m o o B a p u i i r n e l g k l n s h et t U s S e n t t c i a i e u t t s e r e i s d - l g e F o o i o o a g n r l n - n d s s T c e r o a r e v s t - a h e l s b p s a o e b d r n e e r e s - r v - k it e s s ' p T o d o e s t - i a t l s c n s e i e o r r i r e r n c t a - v e u l e s - s c p R e e e r e n r v - - t e ment ed lation obligations 1926 Jan. 6 89,146 45,565 28.075 17,490 15, 771 24, 063 697 219,428 138\,, 492 139,875 147,322 76.4 13 90,445 47, 571 30,177 17,394 15,110 24,063 651 214,321136.,,110:138,439143,158 76.1 20 88, 01745,041 28,418 16,623 15,258 24,063 605 215,691134:,,858;137,996 142,975| 76.8 27. 88,716 46,185 29, 683 16, 502 15,228 23,648 605 214,643 134:!,360!l36,631143,938! 76.5 Feb. 3. 90,177 48,394 31, 227 17,167 16,390 21,748 595 214,413132,,38 01134,,,922146,141 76.3 10 95,821 55,329 35,458 19,871 16, 515 20,248 679 208,6861301, ,—00'7- i— 132,073 148, 56774.4 17 99,43:' 55,348 31, 213 24,135 20,320 20,063 651 204,494 131,297(133,470 147,422 72.8 24 98,924 56,397 34,241 22,156 19, 754 19,063 660 206,577 130; 849:1'3"21;,328 148,131 73.7 Mar. 3 96,126 53,887 32, 045 21,842 19, 2991 19, 063 827 206,889 132,655,135i,, 828 145,04973.7 10_ 96,029 51,117 30,159 20,958 19, 717 21,309 836 207,119944 112299,"9"20!l32,684 145,993 74.3 17. 94, 83456,639 33, 565 23,074 16,426 17,987 732 212,""-~", 4271138,936 145,86174.7 2 3 4 1- 1 9 0 6 1 , , 7 94 5 1 5 6 66 1 , ,3 5 7 8 6 2 4 3 4 6 , , 9 71 0 8 5 2 2 4 1 , , 6 6 7 5 7 8 1 1 0 2 , , 9 8 8 5 0 1 1 1 8 9 , , 3 0 6 9 9 5 7 80 6 8 0 1 i2 2 0 1 0 4 , , 8 5 5 7 0 5 1 1 2 24 8 :! ! ! , , 91 8 3 8 J 6 l 3 j 1 1 , 3 8 5 0 , 5 6 1 9 4 2 6 , 1 0 4 7 9 9 ,65 7 795 2 . . 2 3 Apr .** 7 90,669 54,846 33,945 20,901 10,239 20,123 836 216,689 135,001|139,914 1421,,751 76.7 14- 86/" 47, 287 28,088 19,199 11,142 22,815 827(219,315 1351,,444 139,526 1431i,568 77.5 21 89,46448,844 29.743 19,101 12.495 23, 723 827|208,915134,823137,521138,678 75.6 28- 90, 54649,292 29,895 19,397 13,187; 23,723 769 209,915 132, 827 133,810 142,689 75.9 Mayf5 85,889 46,319 27,791 18, 52811,560 23,723 712 216,878 137,354 139,651 139, 77.7 12- 84,109 45,364 26,902 18,462 10,744 23,723 703|22G; 521133,697 137,054 1412,,891 78.8 19 84,854 45,990 27,827 18,163 12,313 23,723 7031214,741138,477140,383 136,946 77.4 26- 89,196 51, 70531,325 20,380 10,940 23,723 703 204,1 1-7 1I33l1i 92*544. 113329' ,7 C7C8 8IQ P1;3 5Q^Q 9n9075.9 June 2 85,213 48, 55528,417 20,138 9,780 23,908 845 215,314 137,764 139,331137,176 77.9 9 85,617 45,371 27,105 18,266 13,108 24,215 798 203,934 134,658 135,190 129,464 77.1 16 87,362 43,064 25,904 17,160 14,755 26,830 713 202,675 136,467 137,323 127, 76.5 23 88,690 49,095 28,429 20,666 15,235 21, 723 637 198,815 134,262 135,047 125, 76.3 30 94,310 55,424 31, 757 23,667 14,640 21,723 523 192,204 132, 745 133,342 127, 73.6 July 7 82, 72544,123 26,624 17,499 14,457 21,680 465 206,019 135,652 136,763 128,041 77.8 14 88,028 48,416 29, 588 15, 585 21,723 304 195,594 131,621 133,225 125,816 75.5 21 85.134 44,358 26,431 17.927 16,7681 21,723 285 191,599 131,493 133, 744 117, 72676.2 28 84,131 43,276 27, 714 15, 56217,009) 21,723 123 193,414 131,444 132,819 118,138 77.1 Aug. 4 84.135 42,107 25,951 16,156 18,305] 21,723 195,767 135, 587 139,171116,715 76.5 11 79,411 37,810 22, 789 15,021 17,996 21,605 201,340131, """ 79.0 18- 83,845 42,165 25,210 16,955 18,256 21,424 197,691133, 77.3 25- 91,183 49,850 31,922 17.928 18,879 20,454 191,447 134,697 137^ 506 119^ 74.4 Sept. 1 87,008 45,611 28,465 17,146 19,028 20,369 190,017 131,163 133,662 117r,,205 75.7 8_ 85,462 42,188 24,565 17,623 21,151 20,123 "- 792133,157134,3841185,,147 75.9 15—... 95,491 45,560 27,071 18,489 22,503 25,428 184,958 140,204 141,313 116,606 71.7 22- 89,437 45.151 28,136 17,015 22.358 19,928 188,967 135,775 141,108 112,500 74.5 29 92,120 47,054 26,473 20,581 23.359 19,707 185,917 134,476 136,695 113,891 74.2 Oct. 6_ 91,853 46,471 26,174 20,297 23,454 19,928 185,261 138,237 140,697 111, 416 73.5 2 1 0 3- 9 9 4 9 , , 8 2 4 2 6 5 4 5 7 3 , , 7 3 9 9 7 6 3 2 3 9 , , 1 8 2 0 1 9 2 17 0 , , 2 9 7 8 5 8 2 2 3 5 , , 9 1 0 2 1 1 1 1 9 9 , , 9 9 2 2 8 8 1 1 7 8 8 6 , , 0 9 4 5 6 0 1 1 3 3 4 3 , , 1 7 1 9 0 7 1 13 3 4 6 ^ , 8 9 89 8 4 8 1 1 1 2 3 1 , , 2 5 2 2 0 6 7 71 2 . . 8 3 27 88,859 40,916 24,477 16,439 26,015 19,928 193,064 135,563 139,2152 116,714 75.4 Nov. 3 88,827 38,705 23,490 15,215 26,194 19,928 205,368 139,732 143,664 120,829 77.6 10 89,149 40,143 21,897 18,246 27,078 19,928 198,021133,846 135,227 125,411 76.0 17 92,642 41,974 25.744 16,230! 28,740 19,928 188, 457 135,069 137,928 118,489 73.5 24. 96,929 46.152 29,326 16,826! 28,862 19,915 192,820136,140 139,096 125,455 72.9 Dec. 1. 108, 23260,322 39,314 21,008! 25,998 19,912 182,962136,055 139,366 126, 111 68.9 8. 93,626 45,358 28, 738 16, 620126,113 20,155 2^0ut3i), x1w38^1xw35, ,1ii1u 51IU37I ,j 9ot2iS4. i.oJiy alO 75.0 15- 109,996 53,068 36,243 16,825 25,233 29,695 .88,5361135,793 136,680 139,655 68.2 22 109,042 62,389 42,407 19,982 24,576 20,077 197,876131,657138,197146,039 69.6 29 110,343 62,226 42,099 20,127 26,040 .^0,077 194,133 138,"8"9 2 14"2 J498136,640 69.5 Daily average 1926 93, 75150, 931 18, 581 21,336 387 201,965 134,380 137,221 ] 74.4 1925 86,506 43,466 18,508 21,383 874 222,325 129,376 132,086 J 77.7 1924 71,608 31,315 11,404 27, 811 256,5951119,779! 123,100 183J 83.8 1923 104,363 59,846 23,067 21,430 243,674 114,145 116,807 210,656 74.4 i Includes Federal intermediate credit bank debentures as follows: $3,050,000, Jan. 6 to Mar. 17; $3,250,000; on Mar. 24; $4,625,000, Mar. 31 to Apr. 14; $3,575,000, Apr. 21 to May 12; $2,125,000, May 19 to June 9, Digitized for$ 2F,0R00A,0S00E, RJu ne 16 to Dec. 29. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES IN3 [In thousands of dollars] Bills discounted for member banks United Month p d u is T r a c c o n o h t u d a a n s l e ts s Total c M o n b l e l o a a m t n t e e b k s r e a r l c R o b u e i n d ll t i s e s- d i m b n o B a o u i r p l g k l e h s e n t t fro F b r b e m e o B a s d u e n i e l g o r k l r v s h t a s h e t l er s m i e b U n S c o a n t u o u r a i r k p g t t i e e t e e h i s d n e t t 1 s f s ro F e b r b S e m c e o a s t u d u a e n r e g o t r i k e v r t h t i a s s h e e t l e s r d d i i e F n a b b t t e e e e a d n r n c e m t r r k u e a e r d l e - i s t l F o g o a o r n e l s d i g 2 o n n 1926 January... 187,406 181,967 175,000 6,967 5,420 19 February. 235,126 223,971 217, 111 6,860 7,169 3,087 899 March 292, 600 267,698 257,670 10,028 17,994 1,631 3,502 1,575 200 April 178,957 161,145 152,229 8,916 9,738 1,047 4,780 180 2,000 67 May 152,495 140,577 132,548 10,944 119 855 June 193,268 157,374 148,503 8,871 12,832 1,522 21,399 48 July 177,022 156,609 148,349 8,260 10,470 465 9,373 105 August- 185, 713 170,120 163,150 6,970 10,921 500 4,172 September . 224,943 202,597 194, 814 7,783 12, 820 2,000 7,526 October 228,515 215,721 207,401 8,320 10,572 222 2,000 November- 202,658 188,767 180,203 8,564 12,999 892 December.. 367,265 334,645 324,139 10,506 15,600 16,983 37 Total: 1926 2,625,968 2,401,191 2,301,117 100,074 137,479 9,787 55,888 13,855 5,575 2,193 1925 2,254,247 2,014, 776 1,946,180 68, 596 129,441 96, 764 1,340 8,300 3,626 1924 | 1,419,248 1,264,030 1,049,272 214, 758 89,140 60, 579 1,566 3,300 633 1923 — I 3,169,277 2, 911,142 2,060,519 850,623 159,105 98, 831 199 1 1 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926—June, $14,500,000; September, $5,500,000; and December, $14,000,000; 1925 $71,500,000; 1924, $20,500,000; and 1923, $94,000,000. 2 Includes municipal warrants as follows: 1924, $51,000, and 1923, $199,000. b Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 3—PHILADELPHIA 275 No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Month Je N rs e e w y * Delaware P v e a n n n i s a y * l- Total Number N a u cc m o b m e - r at end of modated month 2 during month 1926 January 14,481 798 166,688 181,967 754 385 February,. __ . _ _ . . _. 14,544 701 208,726 223,971 753 374 March ._ 19, 690 1,845 246,163 267, 698 757 393 April 17,461 1,582 142,102 161,145 758 388 May . 16,744 1,565 122,268 140,577 760 402 June _ 14,460 908 142,006 157,374 760 410 July 12,904 864 142,841 156,609 760 389 August . 9,329 490 160,301 170,120 765 362 September .. 7,637 522 194,438 202,597 764 359 October 8,843 869 206,009 215,721 765 365 November 9,684 638 178,445 188,767 769 377 December 14,972 768 318,905 334,645 769 424 Total- 1926 160,749 11,550 2,228,892 2,401,191 1925 162,985 8,078 1,843,713 2,014,776 1924 157,655 5,976 1,100,399 1,264,030 1923 207,430 11, 578 2,692,134 2,911,142 Number of member banks at end of year:2 1926 108 23 638 769 1925 100 22 631 753 1924. 97 22 624 743 1923 92 22 611 725 Number of member banks accommodated during the year: 1926 82 14 462 558 1925 81 15 354 450 1924 73 15 437 525 1923 73 17 442 532 1 Figures relate only to that part of the State located in the Philadelphia district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

276 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills __ ! $2,036,833 $1,548,003 $1,290,080 $2,693,392 Purchased bills ! 661,657 587,126 408,409 952,999 United States securities _ | 764,324 845,499 1,136,303 910,010 Deficient reserve penalties.... i 10,983 7,119 7,839 21,754 Miscellaneous \ 152,851 147,803 73,215 14,616 Total earnings.. > 3,626,648 3,135,550 2,915,846 4,592,771 CURRENT EXPENSES i Salaries: ! Bank officers \ 127,249 122, 583 129,833 131,499 Clerical staff _ ; 893,632 910,544 980,591 994,796 Special officers and watchmen... | 50,430 52,911 59, 595 59,811 All other.. _ __| 104,689 95,903 91,117 103,077 Governors' conferences _ : 267 259 267 312 Federal reserve agents' conferences __| 154 143 123 138 Federal Advisory Council i 414 324 343 540 Directors' meetings._ _ 6,778 7,176 7,565 6,223 Traveling expenses * 11,144 10, 598 12,875 13,965 Assessments for Federal Reserve Board expenses _. 68,636 66,139 59, 978 60,883 Legal fees 8,089 2,847 5,462 2,588 In m su e r n an ts c ) e (other than on currency and _ security _ _ ship- 33,894 33,501 35,062 i 24,089 Insurance on currency and security shipments 91,794 84,604 87,077 88,801 Taxes on banking house 33,844 29,681 22, 538 21, 614 Light, heat, and power 21,022 20,263 21,922 29, 565 Repairs and alterations, banking house.. 63,946 7,809 15,167 76,737 Rent.. 2,367 2,974 2,774 2,903 Office and other supplies. 27,246 34,400 44,127 53,957 Printing and stationery. _. 40,050 30,889 51,077 57, 679 Telephone.. 25, 558 25,624 25,741 26,679 Telegraph 15,976 17,034 20,087 23,146 Postage _ 168,715 154,186 153,517 141,363 Expressage 61,787 56,862 51,836 47,148 Miscellaneous expenses... 65,781 44,296 41,446 35,445 Total, exclusive of cost of currency 1,923,462 1,811,550 1,920,120 2,002,958 Federal reserve currency, including shipping charges: Original cost _ 127, 262 202,661 196,149 252,141 Cost of redemption 5,550 22,057 37,567 40,627 Total current expenses. 2,056,274 2,036,268 2,153,836 2,295,726 PROFIT AND LOSS ACCOUNT Earnings 3,626, 648 3,135,550 2,915,846 4,592,771 Current expenses.. 2,056,274 2,036,268 2,153,836 2,295,726 Current net earnings. _ 1,570,374 1,099,282 762,010 2,297,045 Additions to current net earnings . 1,130 566 22,131 19,617 Deductions from current net earnings: B ank premises—depreciation 23,733 Furniture and equipment 28, 697 16,887 23,307 70,648 All other.. 9,074 4,841 13,742 44,444 Total deductions.. 37,771 21,728 138,825 Net earnings available for dividends, surplus, and franchise tax 1,533,733 1,078,120 2,177,837 Dividends paid__ 730,598 673,212 615,135 582,292 Transferred to surplus account.. 803,135 404,908 131,957 1,178,588 Franchise tax paid United States Government. 416,957 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries. _. 9,012 9,027 19,439 76,813 All other- 991 1,445 1,712 24,150 Total . 10,003 10,472 21,151 100,963 1 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 3—PHILADELPHIA 277 No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 17,472 15,978 14,029 17, 583 Notes discounted 45,066 36,921 35, 579 53,614 Bills purchased in open market for own account _ __ 11,346 9,044 6,630 11,367 Currency received and counted 188,980,000 174, 790,000 164,432,000 156,722,000 Coin received and counted 291,012,000 265, 610,000 216, 525,000 194,118,000 Checks handled. 68,432,000 66,164,000 59,010,000 51, 325,000 Collection items handled: United States Government coupons paid 3,709,000 4, 292,000 4,952,000 6, 355,000 Allother 524,000 485,000 458,000 382,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 366,000 597,000 1, 211,000 16,754,000 Transfers of funds.. _._ 103,000 96,000 93,000 74,000 AMOUNTS HANDLED Bills discounted $2,401,191,000 $2,014, 776, 000 $1,264,030,000 $2, 911,142,000 Bills purchased in open market for own account 137,479,000 129,441,000 89,140,000 159,105,000 Currency received and counted 1,174, 972, 000 1,117,470,000 1,084,405, 000 1,011,761,000 Coin received and counted 47,419,000 35,901, 000 30, 353, 000 27,062,000 Checks handled 25,386,475,000 25,743,036,000 20, 795, 229, 000 15, 808,129, 000 Collection items handled: United States Government coupons paid J 44,841,000 50,890, 000 55,876,000 63,054,000 All other 538,303,000 529, 267, 000 462,479, 000 432,479,000 United States securities—issues, redemptions, and exchanges by fiscal agency department— 341,534,000 361, 969, 000 456,097, 000 578,493,000 Transfers of funds 5,508,127,000 5,079, 024, 000 4, 899, 506, 000 3,379,281,000 ^Large total due to redemption of war savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Number in thousands; amounts in thousands of dollars] Month m m It e e e o m m m w b b s n e e r r d d r a b i a s n a w t n d r n i k c n s o t o n in n- I F t e e d m er s b a l a d r n r e a k s w erv n e on I t t o e r e m o s a b t e s n h r r a f e v d o n r e r c w t h h F b a e e e a r s i d d n r e e k d r s al It o T em n r S e U s t a a s d n t u e r i r t s a e e w r d n Total N b u e m r - Amount N b u e m r - Amount N b u e m r - Amount N b u e m r - Amount N b u e m r - Amount 1926 January 4,828 1,417,781 534, 957 924 115, 267 148 20,726 5,910 2,088,731 February 4,219 1,162,723 480,441 652 98,094 134 18,220 5,012 1,759,478 March 5,052 1,487,191 697,283 828 141, 722 159 28,370 6,049 2, 354, 566 April- 4,611 1,359, 562 571,157 134, 628 176 26, 645 5,613 2, 091, 992 May 4,617 1,328,602 495,125 735 130,391 160 21,279 5,522 1,975,397 June 4,969 1,464,387 548,511 800 135, 299 152 20, 949 5,931 2,169,146 July 4,847 1,450,581 562,338 773 140, 734 155 21, 737 5,785 2,175,390 August 4,559 1,271,705 546,163 718 125,915 161 22,805 5,447 1, 966, 588 September 4,520 1,345,602 | 559, 604 732 134, 079 168 22, 936 5,430 2, 062,221 October. _ 4,785 1,439, 698 688, 022 809 138, 326 188 25,373 5,792 2,291,419 November 4,751 1,361,918 585, 674 769 128, 022 169 24, 661 5,698 2,100, 275 December 5,216 1, 523,194 668,433 859 133,456 158 26,189 6,243 2,351, 272 Total: 1926- 56, 974 16,612,944 115 6,937, 708 9,415 1, 555, 933 1,928 279, 890 68,432 25, 386,475 1925__ 55, 578 17, 231, 592 122 i, 812, 0368,665 l, 403, 835 1, 799 295, 573 66,164 25, 743, 036 1924._ 49, 549 14, 912,376 107 4,392,192 7,422 1,219,944 1,932 270, 717 59,010 20, 795, 229 1923._143,546 14, 228,861 (2) (2) 5,827 1,248,381 1,952 330,887 51,325 15,808,129 1 Includes items drawn on Federal reserve bank, separate figures not being available. 2 Included in preceding columns. 38494—27- -19 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

278 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal re- Transfers for Total Total Transit clearing serve note Government pay- receipts 1926, week ending- clearing • account t F o m e o d e t e n h r t e a s r l F o f e r t d o h e m e r r al N los e s t g N a e in t Pay- Pay- Re- Pay- Re- reserve reserve ments Receiptsments ceipts ments ceipts banks banks Jan. 6 (5 days). 155, 619 153,119 723 893 2,000 158,342 154,012 4.. 330 13 196, 625 184, 688 1,410 I,1 198, 035 186, 382 11, 653 20 196, 096 193, 748 2, 397 1,573 198,493 195, 321 3,172 27 186, 921 184,475 1, 602 188, 523 185, 744 2,779 Feb. 3.. 183, 735 183, 387 1, 366 827 1,000 185,101 i 185, 214 113 10.. 150, 520 145, 787| 1, 283 788 151, 803 146, 575 5,228 165,140 161,122 1,176 792! 166, 316 161, 914 4,402 24.. 152, 730 156,490 771 692 153, 501 157,182 '§,"681 Mar. 3.. 195, 053 195, 924! 1,968 1,201 197, 021 197,125 104 10.. 178,162 172, 403 j 1,278 1,080 179, 440 173,483j 5.957 17.. 177,193 191, 586 1,456 845 7, 000! 185, 649 192,431 6," 782 24.. 206,192 217,9511 879 1,095 23, OOOj 230, 071 219,046| 11,025 31.. 177, 569j 197; 489 1,470 179, 039 198, 473| 19, 434 Apr. 7. 180, 689 183,802 1, 990 758j — - 182, 679 184, 560| 1,881 14.. 187, 071j 191, 396i 550 901L... 187, 621 192,297! 4,676 21.. 200, 714 193, 549! 1,174 1, 283| 7, 000! 208,888 194,832 14, 056 183,167 183, 578| 1, 018 1,273! 184,185 184,851. "666 May 5. 178, 580; 185,653 2, 425 1,3111 181,005 186, 964' 5,959 12. 168, 538i 172, 508J 1,135 1,114} , 169, 673 173,622! 3,949 19. 187,3091 186,8001 1,639 1,129 5, 000 193, 948 187,9291 6,019 26- 177, 312 170, 944 1,135 1,195 178, 447 172,139 6,308 June 2.... 150, 970j 164, 342 1,381 877 1,000 152, 351 166, 219 13,868 9.... 180, 593 169, 208 1,""" 1,398 182,358 170,606 11,752 16.... 186, 280 189,1721 1,173 1,754 3,500 190,953 190, 926 27 23.... 192,897 201, 403! 1,143 1,051 15, 5001. 209, 540 202, 454 7,086 30.... 191, 470 195, 217} 1,497 1, 220i 7, 400| 600 200, 367 197, 037 3,330 July 7__ 170, 741 189, 840 1,094 1,0921 2,500 _ 174, 335 190, 932 16, 597 14.. 194, 674 187, 625! 1,41 1,728 5,000| 201, 091 189, 35311, 738 21.. 194, 716 191, 103 1,243 1,447 ! 195, 959 192, 550 3,409 28_. 189,107 191, 877 1,761 1, 3931._ I. 190, 868 193, 270 2,-462 Aug. 4__ 168, 752| 170, 241 1,514 ! 170, 266 171,855 1,589 11.. 152,163 , 1,113 921 3,500. 156, 776 161, 984 _ 5,208 18.. 167, 847 161, 1,161 1, 731 3,000 1,000 172, 008 167, 683 4,325 25.. 172, 099 1 1 6 6 4 8 , , 2 95 2 2 7 ! 1,352 1, 338J 4,000 500 177, 451 170,065 ^386! I Sept. 1.. 157, 007 157,407 1,507 1,454 158, 514 158,861 347 8.. 138, 540 142, 035 lr~" 1,194 2,200 141,826 143,229 1,403 15.. 175, 715 172,828 1,817 2,100 600 179, 655 175, 245 4,410 22.. 191, 071 206, 591 766 2,013 12,000 203, 837 208, 604 4,767 29. _ 178, 455 178, 887 2,396 1,857 180, 851 180, 744 107 Oct. 6-. 194, 516 189, 420! 1,836 1,701 196, 352 191,121 5,231 13.. 150,825 154, 671 1,070 1,237 151,895 155,908 20.. 218,107 217, 552 1,237 1,984 9,000 228, 344 219, 536 27.. 219, 251 235, 515 1,792 1,481 221, 043 236,996 15,~953 Nov. 3.. 154, 078 166, 675 939 1,060 155, 017 167, 735 12, 718 10.. 197, 297 193,402 1,722 1,232 3,500 202, 519 194, 6347,885 17.. 194,430 187,415 1,292 1,172 3,500 199, 222 188, 58710,635 24.. 201,113 204, 769 1,337 1,460 2,000 202,450 208,229 •57779 Dec. 1 175,330 165, 065 1,252 1,236 176, 582 166,30110,281 8 178,450 198,804 1,260 1,400 179, 710 200, 204 20,-494 15 189,751 174,967 1,073 1, 321 190,824 176, 288 14, 536 22 206,123 223, 756 1,183 1, 243 5, 500 212,806 224,999 29 171, 010 165,839 1,097 1,032 172,107 166,871 5,236 31 (2 days). 76, 742 68,876 156 386 1,000 77,898 69, 262 Total: 1926.. 9,465,055 9, 555,14371,300 66, 541127, 200 6, 700 9, 663,555 9,628,384 35,171 1925... 84,800 18,500 9,202,896 9,211, 762! 1924... 90,500 24, 500 8, 670, 202 8,663, 355' 6,847 1923... 87,000 38,400 8,049,170 8,034, 560 14, 610 I i Net gains in ownership of gold since establishment of fund in 1915, $96,128,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] PHILADELPHIA DISTRICT Loans and investments Capi- Net Call date Total c L o a d u o n i n a s d - n ts s l Tota I l nv G e U m s o t v . m e e n S r e n t . n -J ts s O ec th u e ri r - b f D a ro U n m e k s i d p i p a r s v t u o n l a u i u n l f d d r , i - s - t e , s d de T p o o t s a i l ts d D e e p m os a i n ts d : p T o d i e s m - it e s U S p n o t d a e i s t t - i e e ts s d b D a t n o u k e s d d G e e m o t p a p m i v l m n e o u e a d n s e s r n t i n t d s - re s b w F s e R e a e e r i r e n a r t d v - h v k l - e e c r B p o a e a b a u d n il y l i n d l e s - s t - s r N b e a b i p u o n n e o m f g r k rt s - - b securi- ties ties M 1921 Dec. 31. 1,700,113 1,028,992 671,121 230,079| 441,042 91, 7941 347,822 1, 567, 3181 902,160 16, 531 29,405 169, 222 941,317 1,437,253 104,413 >6,354! 704 I—I 1922 Mar. 10. 1,714,' 1,032,614 682,366 232,838i 449,528 89,318 354, 3091,586,652 899,032 486,240 23,635 177, 745 963,506 1,473,381 104,001 68,491 710 o June 30. 1,734,918 1,021,827 713,091 233,891! 479,200 93, 557 359,539 1,652, 914 960,479 495,846 11,420 185,169 1,020,818 1,528,084 113,460! 54,852 712 Dec. 29.. 1,837,389 1,078,426 758, 963265,864! 493,099 109,103 383,421 1, 775, 653 1,019,458 521,677 30, 622 203,896 1,066,468 1,618,767 116,132j 56,386 716 1923 p Apr. 3 ...I 1,916,841 1,136,690 780,151 280,580 499,571 108,467 387,467 1,841,452 1,026,991 575,226 32,597 206, 638 1,070, 969 1,678,792 116,272! 72,435 717 J D S u e e n p c. e t . 3 3 1 1 0 4 ... _ | 1 1 1 , , , 9 9 9 7 7 6 0 2 6 , , , 6 4 8 8 8 2 6 7 8 1 1 1 , , , 1 1 1 9 7 9 5 6 1 , , , 0 3 7 3 9 3 4 4 2 7 7 7 7 8 9 5 0 0 , , , 7 4 6 5 3 5 5 4 2 ! [ 2 2 2 6 8 7 4 0 2 , , , 2 5 8 6 2 3 2 6 2 1 1 i 5 5 5 1 0 0 6 7 5 , , , 4 6 1 9 0 2 3 2 6 1 9 9 1 7 7 3 , , , 8 3 5 5 5 0 0 7 5 1 4 3 3 0 9 9 0 8 0 , , , 9 2 6 : i 5 " 5 ' 1 1 1 , , , 8 8 9 6 4 4 0 2 0 , , , 1 1 9 7 9 0 1 7 8 1 1 1, , , 0 0 0 6 2 1 3 6 8 , , , 0 2 5 8 1 8 2 7 1 6 6 6 4 1 2 5 3 8 , , , 2 7 4 5 2 4 2 8 1 j 2 1 1 4 8 4 , , , 7 0 7 6 1 7 9 8 6 2 1 1 9 1 8 2 3 5 , , , 0 0 2 9 8 3 4 6 2 1 1 1 , , , 0 0 0 7 7 5 5 2 6 , , , 4 7 7 4 4 2 4 7 7 1 1 1 , , , 7 7 6 1 3 9 5 9 5 , , , 1 4 2 8 6 5 6 5 1 1 1 11 1 1 8 4 6 , , , 2 1 9 7 0 6 5 8 0 8 6 7 8 5 0 , , , 5 4 4 5 4 5 7 7 8 7 7 7 2 2 2 2 2 0 CF M > O 1924 Mar. 31. 1,994,072 1,219,605 774,467 251,88l| 522,586 98, 310j 410,062 1,897,416 985, 651 679, 593 33,448 198, 724| 1,033,494 1,746,5351 114,381! 56,341 724 June30. 2,033,274 1,241,586 791,688 237,033 554,655 132,372!, 425,265 1,986, 912 1,030,285 705,706 20, 906 230,0151 1,079,752 1,806,364! 121,313! 33,811 730 Oct. 10.. 2,139,349 1,287,051 852,298 244,552, 607,7461 160,5121 443,186 2,110,127 1,063,316 742, 770 42, 93' 261,104! 1,134,922 1,920,629) 124,297 24,297 736 Dec. 31.. 2,169,764 1,289, 333880,431 258,029! 622,402 119,997! 441,738 2,137,074 1,093,770 774,356 25, 549 243,399' 1,153,978 1,953,883 129,361 48,431 738 1925 Apr. 6.. 2, 232,149 1,352,241 879,908! 255,264 624,644 122,145 454,274 2,144,: 1,082, 539 782,709 49, 749 229,865! 1,143,462J 1, 975, 920J 119, 790J 42,152 740 June 30.. 2,250,996 1,382,480 868,516! 233,574 634,942 108,951! 460,206 2,178, 111 1,131,039 809, 256 18,917 218,899 1,179,636} 2,007,809 139,752J 56,629 749 Sept. 28. 2,312,234 1,449,681 862,553 226,785 635,768 109,1121 463,378 2,192,458 1,130, 778 829,146 26, 712 205,822 1,180,788! 2,036,646 129,518 58,275 753 Dec. 31.. 2,341,41] 1,488,813 852, 598 225,490 627,108 126,891 467,109 2, 299, 971 1,197,807 849, 91;" 28, 906 223,347 1,220,548! 2,099,372 139,801 65,567 751 1926 Apr. . 2,411,721 1,551,887 859,834! 244,897 614,937 118,656 4S6,082 2,291,391 1,152,189 880,283 47, 298 211,621 1,191,785 2,119,366 131,910! 71,346 756 June 30. 2,422, 984 1, 577,647845,337j 213,342 631,995 117,493 488,052 2, 318,062 1,168,840 897, 745 27,070 224,407 1,210,013! 2,134,828! 135,378! 70,049 760 Dec. 31. 2,481,963 1,619,543 862,420 205,786 656,634 122,531 507,067 2,385,463 1,193,841 942, 801 29,388 219,433 1,219,195; 2,191,384| 139,754! 78,958 769 to i Including rediscounts and overdrafts. »Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. 4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued to 00 lAmounts in thousands of dollars] o CITY OF PHILADELPHIA Loans and investments Capi- Net Call date Total c L o a d u o n i n a s d n t - s s 1 Tota I l nv G e U m s o t . v m e e n S r e t n . n - ts s O ec th u e ri r - b f D a ro n u m k e s d p i p r a s u v t o l u a n n i u f d r l d - i s , - t e , s d de T p o o t s a i l ts d D e e p m os a i n ts d : p T o d im s e i - t e s U S po n t d a s i e t t i - e e ts d s b D a t n u o k e s d d e e p N m o e a s t n it d s ; d d G e e m t o p a p m i v m l n e o u e a n d s e s r n i t n t d s - re b s w F s e R e a e e r i r e n a r t d v - h k v l - e e c r p o B a e a a u b d n il y l n i d l e s - s t - s r . b N e a i b p u n o n e o g m f r k r s t - - s securi- ties ties 1925 Dec. 31 997,449 710,050 287,399 77,078 210,321 71,113 213,470 1, 077, 648 680,119 170,601 21,062 205,866 707,530 899,193 78, e 20,741 46 1926 Apr. 12 1,038, 589 737,031 j 301,558 96,573 204,985 68,891 221,863 1,066,473 649,048 187,526 35,847 194,052 691,921 915,294 71, 746 22,439 45 June 30 1,040, 369 752,295 288,074 70,429 217,645 68,773 222,950 1,081,097; 663, 515 190,750 20, 391 206,441 708,680 919,821 74,268 22,461 46 Dec. 31 1,054,654 759,415: 295,239 70,102 225,137 66,828 226,889 1,088,210 660,271 205, 208 22, 735 199, 996 690, 543 918,486 76,381 41, 604 45 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

281 DISTBICT NO. 3 PHILADELPHIA No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (753 1926 (756 1926 (760 1926 (769 banks) banks) banks) banks) RESOURCES Loans and discounts 1,488,429 1,551,442 1,577,278 1,619,106 Overdrafts 384 445 369 437 United States Government securities 225,490 244,897 213,342 205,786 Other bonds, stocks, and securities 627,108 614,937 631,995 656,634 Total loans and investment __ 2,341,411 2,411,721 2,422,984 2,481,963 Customers' liability on account of acceptances 12,044 11,622 11,203 11,523 Banking house, furniture, and fixtures 68,833 72,044 73,929 76,544 Other real estate owned 10,523 10,731 10,704 11,202 Cash in vault 42,721 42,552 40,946 Reserve with Federal reserve bank 139,801 131,910 135,378 139, 754 Items with Federal reserve banks in process of collection. 72,129 59,783 59,207 69,977 Due from banks, bankers, and trust companies 126,891 118,656 117,493 122,531 Exchanges for clearinghouse, and checks on other banks in same place 76,466 57,831 63,724 77,310 Outside checks and other cash items 6,509 3,188 5,121 3,713 Redemption fund and due from United States Treasurer 2,833 2,823 2,828 2,851 United States securities borrowed 1 1,950 1,181 2,313 2,409 Other securities borrowed 1 104 Other assets 14,709 10,295 13, 929 15,857 Total. 2,916,820 2,934,337 2, 959,863 3,054,494 LIABILITIES Capital stock paid in 145,840 150,650 151,748 156,491 Surplus fund 247,277 254,629 258,135 270,349 Undivided profits, less expenses and taxes paid 73, 992 80,803 78,169 80,227 Reserved for taxes, interest, etc., accrued 5,618 7,502 6,535 6,123 Due to Federal reserve banks 5,807 6,061 7,680 Due to banks, bankers, and trust companies 217,540 205,560 217,711 211,753 Certified and cashiers' or treasurers' checks outstanding. 18,994 17,954 16,253 18,721 Demand deposits 1,178,813 1,134,235 1,152,587 1,175,120 Time deposits 849,918 880,283 897,745 942,801 United States deposits 28,906 47,298 27,070 29,388 Total deposits... 2,399,978 2,318,062 Agreements to repurchase United States Government 2,291,391 2,385,463 or other securities sold 1 22 Bills payable (including all obligations representing 1,496 26 money borrowed, other than rediscounts) 47,189 49,512 Notes and bills rediscounted (including acceptances of 50,290 61,466 other banks and foreign bills of exchange or drafts sold with indorsement) 18,378 21,056 20, 537 17,492 Letters of credit and travelers' checks sold for cash and outstanding 339 798 581 186 Acceptances executed for customers 9,496 8,154 7,449 9,485 Acceptances executed by other banks for account of reporting banks 3,276 3,819 4,144 2,705 National-bank notes outstanding 55,281 55,570 55,614 55,803 United States securities borrowed 2,563 1,889 2,313 2,409 Other securities borrowed 249 104 Other liabilities 7,571 6,041 6,922 Total. 2,916,820 2,934,337 2,959,863 3,054,494 J Exclusive of securities borrowed by national banks prior to June 30, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

282 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having Banks in cities and townshaving Date a populsition of—• a population of— Total Total Less 5,000 15,000 100,000 Less 5,000 15,000 100,000 than to to and than to to and 5,000 14,999 99,999 over 5,000 14,999 99,999 over 1923 Apr. 25.... 1, 088,181 125,879 72, 979 128,194 761,129 572, 760 190, 453 95, 950 167,132 119, 225 May23__. 1, 077, 817 126, 631 74, 550 129, 647 746, 989 589,401 193, 214 97, 057 169,396 129, 734 June, 27 1,060,842 127,322 74, 577 128,486 730,457 604, 822 195, 583 98,415 174, 377 136,447 July 25.... 1,078,901 129,950 74,030 130, 630 744, 291 612,245 198, 768 100,181 175,111 138,185 Aug. 29__. 1,074,993 131, 250 75,189 130, 732 737,822 618,148 201,367 100,907 177, 819 138,055 Sept. 26... 1,075,367 131,647 76,397 135,814 731, 509 622,325 202, 745 101, 358 181, 650 136,572 Oct. 24.... 1,082,963 131,951 75,171 136, 028 739, 813 627,826 205,132 100, 691 182, 301 139, 702 Nov. 28... 1,066,168 128,871 76,804 131, 745 728, 748 635, 591 204, 111 104,457 182,052 144,971 Dec. 26.... 1,060,282 127, 470 76, 532 133,026 723, 254 637,018 203, 468 104, 648 182, 704 146,198 Jan. 24 1,037,462 123,388 72, 082 127, 351 714,641 664,436 208,113 109, 546 187, 768 159,009 Feb. 27.... 1,031, 623 122,906 71, 229 125,909 711,579 676, 562 210,090 111,725 189, 676 165, 071 Mar. 26... 1,035, 633 129, 204 70,516 126, 547 709, 366 676, 705 210, 733 112, 488 189, 436 164,048 Apr. 23.... 1,034,840 123,670 71, 410 129, 028 710, 732 686, 969 212, 420 113,350 194,127 167,072 May 28.... 1,053,662 121,225 70,174 126,420 735, 843 688, 508 213,161 113,909 195, 275 166,163 June 25. . 1,067,178 122,034 70, 387 129, 508 745, 249 695,498 214, 560 114,214 196, 907 169, 817 July 23.... 1,095,670 123,825 70, 681 131,116 770,048 708,003 217, 213 116,034 199, 432 175, 324 Aug. 27_ _. 1,107,114 126,890 71,329 132,921 775,974 725, 033 219, 499 116,954 202,048 186, 532 Sept. 24... 1,124, 642 130, 730 72,075 137, 050 784,787 736, 982 220, 971 117, 782 203,078 195,151 Oct. 29.... 1,144, 321 131, 094 74, 308 134, 786 804,133 753,331 223, 252 118,753 205, 427 205, 899 Nov. 26... 1,151,727 130,161 73,969 134,448 813,149 765,488 223, 663 119.119 205, 509 217,197 Dec. 24.... 1,129, 471 125, 743 73, 516 136, 038 794,174 759, 663 223, 250 120,171 203, 283 212, 959 1925 Jan. 28.... 1,139, 390 124, 323 71, 665 130, 009 813, 393 777, 518 227, 815 121,784 207, 055 220,864 Feb. 25.... 1,134, 689 124,686 72,823 133, 416 803, 764 789, 945 230,078 122, 295 209, 739 227, 833 Mar. 25... 1,127,880 127,979 71,654 133,018 795, 229 783, 880 230, 572 122, 906 211,366 219,036 Apr. 22.... 1,155,613 127,922 73,136 137,845 816, 710 786, 676 230, 514 122, 643 213, 658 219, 861 May27_._ 1,159,071 128, 680 72,452 139, 307 818, 632 796, 502 232, 366 123, 867 221, 042 219, 227 June 24 1,159, 036 130, 880 72, 444 140, 723 814,989 808, 481 234, 246 124,909 222,168 227,158 July 29 1,154,112 134,407 72, 276 140, 026 807,403 813, 352 238, 702 125, 680 223, 703 225, 267 Aug. 26,_. 1,170, 496 140,014 71,909 143, 863 814, 710 824, 826 241, 765 127, 814 225,417 229, 830 Sept. 23... 1,175,162 142, 912 73,056 146, 909 812, 285 825, 637 241, 598 128,098 227, 382 228, 559 Oct. 28 _ . 1,185,676 143, 281 76, 343 147, 650 818, 402 841,149 243, 477 126, 845 227, 993 242, 834 Nov. 25... 1,181,937 143,089 75, 285 147, 518 816, 045 843,884 243, 817 127,198 224, 866 248, 003 Dec. 23.... 1,183,178 142, 089 74, 509 152,083 814,497 843, 836 241, 890 125, 188 223, 740 253, 018 Jan. 27.... 1,190, 601 139, 804 72, 672 146, 577 831, 548 869,084 247, 705 127, 299 227, 769 266, 311 Feb. 24-... 1,170,180 141, 216 72, 483 146, 252 810, 229 876, 312 249, 623 128,155 228, 251 270, 283 Mar. 24... 1,169, 750 142,344 71,624 148,014 807, 768 875, 945 250, 703 129, 004 227, 232 269,006 Apr. 28.... 1,195,490 141, 758 70, 694 148, 864 834,174 887,115 252.078 129, 555 229, 204 276, 278 May 26 1,196,898 141, 626 70,980 150, 746 833, 546 892,122 252, 607 129, 703 230, 404 279, 408 June 23.... 1,187, 668 141,782 70, 573 151,316 823,997 894, 481 253, 783 130, 528 231, 803 278, 367 July 28 1,188,398 145,056 71, 292 152,982 819, 068 909, 625 259, 778 130, 696 235, 067 284,084 Aug. 25__. 1,191,063 148, 391 71,185 155, 687 815, 800 916,120 262, 477 131, 469 237, 653 284, 521 Sept. 22... 1,209, 239 151,286 73, 096 156, 482 828, 375 928, 265 260, 461 134,187 240, 257 293, 360 Oct. 27 1, 218, 407 150, 669 73,779 158, 362 835, 597 938,499 264, 740 135, 401 245, 550 292, 808 Nov. 24... 1, 213,823 147, 466 75,827 160, 514 830,016 945,184 264, 955 136, 700 244,125 299, 404 Dec. 29____ 1,211,199 143, 702 76,131 161,379 329, 987 93G, 928 263, 865 136, 382 241, 565 295,116 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 3—PHILADELPHIA 283 No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Gov- Loans and investments ernment deposits Re- Borserves rowwith ings Date (Wednesday) Total Total s L e o O c a u n n r s i- AU I m nv e e n st t - s Total m N d a e e n - t d I ! \ Time m G er e o n n v - t - re b F s e a e e r n r a d v k l - e re b f F s e r a e o e r r n a d m v l k - e other Weekly averages: I 1922_ 841.211 574,363'251,343 323,020 266i,, 848 734,677 >6,484 52,157 16,036 67,043 22,763 1923. 924.178 622, 762 277,393 345,369 301,416 805,202 694,710 95,549 14, 94370,525 32,423 1924__ 976.212 655,4781291,213;364,265 320, 734 871,186 707, 934144,302 18,950 74,895 9,609 1925- 1,078,685 723,032,354,043!368,989 355,653 962,186 763,8051183,472 14,909 80,529 16,408 1926. 1,148, 504 796, 981 421,167,375,814 351, 523 1,023,957 770,1251231,954 21,878 81, 67917,167 1926 Jan. 6_. 1.121, 487 777,812 419,733 358,079 343i,, 675 I020,412 788, 782 i211,309 20,321 85,165 13,022 13- 1,127,041 785,2871424, 977 360,310 341,754 1019,973 793,796|207,279 18, 89883,503 15,341 20.. 1.122, 563 783, 525 426, 784 356, 741339,038 1,017,399 782,770 215,731 18,898 83,399 12,253 27.. 1.123, 654 784,601 420,637 363, 964 339,053 1011,331 774,149J218,288 18, 89482,667 12,981 Feb. 1,125, 660 782,026 417,629 364,397 343,634 1,008,762 609 222,245 18, 90879,656 14, 561 1,128,228 784, 620 419, 922364,698 343,6081.001,108 925 222, 28518,898 79,651 22,553 1,123,551 779,454 416,096 363,358 3441,,097 999, 478 674 222,903 18,901 80,476 23,397 1,115,316 772,3061411,845 360,461 343l,, 010 991, 459 059 221,631 18,769 80, 55622,812 Mar. 3.. 1,117, 579774, 907 412,641 362, 266 342, 672 992,004 757,199 215,907 18,898 81,381 21, 515 10.. 1,112,418 774,3961409,098 365,298 338,022 983,049 748,953 215,200 18,896 78,896 18,570 17.. 1,157,690 785,109416, 7• 59' 368- ,350 372,5"811., 025,700765,061 215,134 45,505 85,061 21,381 24.. 1,146,091 775,214 401,020 3741,,194 370, ~"~ .004,099 748,504 219, 87835.717 75,051 31,701 31.. 1,136,744 774.107 402,220 371., 887 362,637 1,013,611 755, 811 222,08235, 71879,180 24,357 Apr. 7. 1,134,652 780,099 406,322 373, 777 354,553 10,09,502 749,886 223, 35,718 82,492 19,254 14.. 1,156,985 799,926 417,967 381,959 357,0591'.041,545 782,385 223,442 35.718 83,402 14,356 21.. 1,155.275 796,1871419,349 376,838 359,0881033,992 776,649 227,964 29,379 82,757 14,644 28.. 1,155,533 798,5851415, 643 382.942 356,9481031,262 774,584 227,299 29,379 81,474 14,236 May 5-. 1,147, 596791, 681'416,180 375,501 355,9151,034,140 778,334 227,607 28,199 84,946 11,577 12. 1,162,099 804.905423,462 381,443 357,194|l,04l,905 78'6 ,^365 228, 75126,789 82,270 10,289 19.. 1,142,371 786,623J4ll,42:'7 375; 196 355', 7481,022,623773,123226,059 23,441 86,362 10,872 26. .1,153,289 792,896 417,874 375^ 022 360,393 1,025,197 772,770"4 229,990 22,503 79,455! 14,087 June 1,145,740 787, 884:416,531 371,353 357,8561,032,473 775, 534 234, 436 22,503 85,018: 11,714 1,156.926 799,778|429,393 370,385 357,1481,037,042 780,732 233,807 22, 50383,403 i 10,511 1,143, 648792,017J424,273 367,744 351,6311,027,358 772,824 232,031 22,503 84,254j 9,363 1 1, , 1 1 4 4 7 0 , . 0 0 5 3 6 9 8 7 0 9 2 2 , , 3 8 6 0 1 4 J 4 4 2 3 5 0 , , 0 6 9 0 2 5 3 3 7 6 2 7 , . 2 1 6 9 9 9 3 3 4 4 4 7 , , 2 6 3 9 5 5 1 1, , 0 0 2 1 3 4 , , 7 7 1 8 0 7 1J 7 77 6 4 3 , , 7 2 2 8 8 1 |2 2 2 2 9 9 , , 0 2 0 8 3 9 2 1 2 9 , , 5 6 0 9 3 3 8 80 2 , , 3 9 1 1 5 6 ! ( 1 12 7 , , 9 7 5 0 0 9 July 1,147, 701800,497 426,014 374,483 347,204 1,032,732 784,465 229,562 18,705! 83,1021 9,087 1,145,548 797,174:421,224 375,950 348,3741,025,287 774,169 233,906 17,212 80,735j 12,632 1,148,103 797,4491421,017 376,432 350,6541,018,210 766,335J234,663 17,212 79,084! 12,260 1,138,723 790,385 415,813 374, 572 348,338:1,012, 636 J762,259 233,165 17,212 78,766! 10,120 Aug. 1,136,909 787,848 410,978 376,870 349,0611,014,233 760,937 2361.,146 17,150 81, 728 10,522 1,143,265 795,4381415, 613 379,825 347,827 1,022,156! 771,840 235i.,25715,059 79,299 8,173 1,136,175 788.988J407,833 381,155 34' 187 1,006.013 758,274 234:;,190 13,549 79, 594 15,006 .1,136,918 788,138:409,650 378,488 348,780 1,004,190|760,034 233,858 10,298 81,383 21,922 Sept. 1_. 1,141,700 792, 537|412,415 380,122 349,163 1.013, 573 765,146 238,129 10,298 77,826 18, 605 8 1,153, 578805,059;418, 937 386,122 348,519 1,028,115 775,917 241,921 10,277 80,636 15,886 1,168,685 808,978 420,376 388,602 359, 707 1,049,290 771,158 244,680 33,452 85,154 19,464 22.. 1,172, 072 812,592 417,795 394,797 3591, ,4801,045,38"5 769,282 242, 65133,452 82,740 19,370 29.. 1,168, 859810,457 418,556 391,901358,4021,041,246 764, 661 243,13333, 45282.004 19,940 Oct. 6_. 1,178,991 822,664 431,342 391,322 356,327 1,049,969774,677 241,840 33,452 82,257 20,551 13.. 1,171,737 816,407 421,887 394, 520 355,330 L1, 046,163779, 624 236,17830,361 80,482 26,946 20.. 1,164,574 810, 510 420,875 389,635 3540,6411,026,458762,232 243,388 20,838 77,641 21,906 27.. 1,160,850 808,506 418,364 390,142 352,3441,035,878 776,575 241.592 17, 71181,318 12, 696 Nov. 3 1,158,748806,935 426, 995 379,940 351,813 1,048,080 785,899 244,47017,711 85,792 11,970 10 .11,168,148819,200 436,896 382,304 348,948 1,039,260 780,380 243,82815,052 81,243 14,052 17 1,160,432 812,074 428,902 383,172 348,358 1,028,4411 772,184 245, 72110,536 80,324 15, 554 24 ..1,159,910 812,889 430,055 382,834 347.0211,027,235| 769,255 248, 500 9,480 83,074 17,536 ! Dec. 1,168,468820,185 440,205 379,980 348,283 1,021,525J 766,018 246,027 9,480 81,960 31,218 jl, 162,478815,020 437,466 377, 554 347,458 1,031,5087 7v7n,6 8«5« *2 O4A4A,.3 4Q3AQ9,480 83,740 15,099 15.. 1,180,027823,087 443,797 379,290 356,940 1,045,424777,940 244,760 22,724 81,096 22,362 22.. 1,178,186821,841 444,318 377,523 356,345 1,035,211 764,,70 .4. 2 4_7.,.7,8.3__22,724 79,304 31,447 29., 1,172,215819,102 449,894 369,208 353,113 1,033, 585 !762,408 248,45322,724 83,303 32,333 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS to 00 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES 3 Loans and investments Net demand, time, and Government deposits Reserves Borrowing Month with from Loans Federal Federal Invest- Net Govern- reserve reserve Total Total secu O r n ities All other ments Total demand Time ment bank bank 1922 January 812,162 573,453 252,124 321,329 238,709 692,177 623,906 46,670 21,601 62,943 36,024 February 823,336 573,520 249, 982 323,538 249,816 694,156 616,894 47, 636 29,626 61,902 38,541 March 811, 428 566,827 239,881 326,946 244, 601 699,219 633,391 48,314 17, 514 66, 957 30,653 W April 810,734 561,733 239,144 322,589 249,001 708,116 646,112 48, 998 13,006 66, 599 18,588 May 820,125 557, 984 240, 008 317,976 262,141 720,792 659,549 50,321 10, 922 67,390 16,696 June 830,371 557,586 242,126 315,460 272, 785 733,610 667, 240 50.588 15, 782 16, 080 July 835,292 556,645 242,028 314,617 278,647 739,989 680, 890 51,211 7,888 67,270 14,782 August 847,297 563,210 250, 944 312,266 284,087 747,862 681, 528 53,768 12, 566 67,621 13,410 teJ September 862,018 579,190 259,735 319,455 282,828 761,004 694, 978 55,274 10,752 70,144 15,794 October 879,244 600, 985 268,201 332,784 278.259 775,867 702, 744 56,317 16,806 69, 601 18,281 November 879,175 602,207 266,139 336,068 276,968 767,368 692,267 57,884 17,217 67,324 27,582 December 885,060 600,827 267,919 332,908 284,233 776,834 698,112 58,493 20,229 69,621 27,396 1923 January. 896,628 589, 917 262,443 327,474 306,711 794,006 710,700 65,722 17,584 71,674 20,910 February 899,195 593,167 260, 434 332,733 306, 028 786,213 700,732 74,698 10,783 70,085 32,986 March 916,360 610,566 279,456 331,110 305,794 801,048 699, 836 82, 967 18,245 71,049 32,934 April 929,335 622,905 290,950 331,955 306, 430 812,183 699,077 88,519 24,587 71,418 29,889 May 933,404 623.456 280,600 342,856 309,948 816,136 701,885 92,655 21,596 71,700 35,090 June 937,441 625.457 271,134 354,323 311, 984 810,351 692,169 102,100 16,082 69,005 39,964 July 939,317 631,696 275,466 356,230 307, 621 814,378 692,664 106,105 15,609 70,769 40,845 August 936,030 637,044 356,218 807,652 691,301 103,651 12, 700 70,423 37,878 September 932, 779 640,511 283,457 357,054 292,268 803,987 685,965 103,086 14, 936 69,695 34,806 October 932,026 640,724 284,528 356,196 291,302 807,499 689,167 106,312 12,020 70,937 32,343 November 919,649 630,395 278, 021 352,374 289,254 803,611 687,469 111, 034 5,108 69,715 26,085 Q17 fi14 fli*7. 275 281.681 345.594 804,240 682,003 113,200 9,037 69,177 26,218 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January... 910,305 623,295 284,583 338,712 287,010 806, 747 671,000 124,112 11, 635 70,621 15,425 February. 913,695 627,660 280,229 347,431 286,035 810, 602 671,315 129,100 10,187 71,145 13,469 March 923,331 631,792 277,822 353, 970 291,539 813,588 664,848 129,709 19,031 69,354 14,023 April 938,720 643,429 280,450 362,979 295,291 823, 414 665, 047 131,809 26, 558 70,136 14,035 May 947,396 646, 711 285, 064 361,647 300,685 835, 729 685, 347 132,008 18, 374 71,550 9,684 June 949,393 642,076 281, 785 360,291 307,317 840,783 694,054 133,589 13,140 75,172 8,050 July,... 971, 267 654,753 284, 516 370,237 316, 514 869,351 717,161 139,078 13,112 75,544 6,737 August. 985,480 658,408 287,015 371,393 327, 072 880,144 722,987 144,936 12,221 77,753 4,651 September . 1,009,773 668,196 292,306 375,890 341, 577 911, 305 735,274 152, 750 23, 281 78,691 4,818 October 1,038,893 683,130 299,409 383,721 355,763 940,886 745,637 161, 783 33, 466 79,069 4,699 November. 1,058,036 693, 934 314,934 379,000 364,102 962,184 761, 413 175,061 25, 710 80,081 5,177 December.. 1, 688,443 322, 569 365,874 370, 540 950, 705 757,068 175,094 18, 543 79,525 13,062 1925 January— 1,054,448 679, 568 322, 602 356,966 374,880 955,893 763,498 177, 714 14, 681 80,196 2,465 February. 1,045,058 682,313 323,884 358,429 362, 745 942,863 748,077 181, 980 12,806 77,972 6,275 March 1,066,522 696,210 332,429 363, 781 370,312 952, 793 753, 721 174,840 24,232 79,484 11, 930 April. 1,077,135 709,490 343, 564 365,926 367, 645 966, 007 760, 575 174,283 31,149 81,795 13,635 May 1,071, 723 708,932 345,355 363,577 362, 791 962,475 768,024 174,120 20,331 81,689 June 1,072,552 709,387 347, 214 362,173 363,165 961,539 767,187 179, 607 14, 745 78,659 10,847 July 1,068,755 712,600 340,060 372, 540 356,155 949,468 764, 596 176, 549 8,323 81,012 18,627 August- 1,076, 523 724,248 343,340 352,275 946, 528 760,641 180, 584 5,303 80,005 20,689 September.. 1,087,535 744,122 360,280 383,842 343,413 959,446 764,008 183,035 12, 403 79,774 23,658 October 1,107,543 767,833 385,818 382,015 339,710 977,189 772,446 192, 650 12,093 82,232 28,853 November.. 1,102,857 765,950 391,521 374,429 336,907 982, 327 774, 550 202,006 5,771 82,393 21,981 December... 1,107,125 765, 773 404,413 361, 360 341,352 767,873 203,443 15,212 80,811 24,381 1926 January—. 1,123,686 782,806 423, 033 359,773 340,880 1,017,279 784, 874 213,152 19, 253 13, 399 February. 1,123,189 779, 602 416,373 363,229 343, 587 1,000,202 759,067 222, 266 18, 869 80,085 20,831 March 1,134,104 776, 746 408, 347 368,399 357,358 1,003, 692 755,105 217,640 30,947 79, 914 23, 505 April 1,150, 611 793,699 414,820 378,879 356,912 1,029,075 770,876 225,651 32, 548 82, 531 15,622 May..... 1,151,339 794,026 417, 236 376, 790 357,313 1,030,967 777,632 228,102 25, 233 83,258 11,706 June 1,146, 682 794,969 425,179 369, 790 351, 713 1,027,074 773,420 231, 713 21,941 83,181 12,449 July 1,145,019 796,376 421.017 375,359 348,643 1, 022, 217 771, 807 232,825 17,585 80,422 11,025 August—. 1,138, 317 790,103 411.018 379,085 348,214 1,011,648 762, 771 234, 863 14,014 80, 501 13,906 September _ 1,160, 979 805,925 417,616 355,054 1,035, 520 769, 232 242,102 24,186 81, 672 18,653 October 1,169,038 814,522 423,117 391,405 354, 516 1,039,618 773,277 240,750 25, 591 80,425 20, 525 November. 1,161,810 812, 775 430, 712 382,063 349,035 1,035,754 776,930 245, 630 13,194 14,778 December— 1,172,275 819,847 443,136 376,711 352,428 1,033,450 769, 751 246,273 17,426 81,881 26,492 to O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN PHILADELPHIA—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS to 00 [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Reserves Borrow- (We D dn a e t s e day) Loans e w ra it l h r e F s e e d rv - e in F g e s d e fr r o a m l D ba u n e k t s o D b u a e n f k ro s m Total On se- I m nv e e n s t t s - Total N m e a t n d d e- Time G m ov e e n r t n- bank re b s a e n rv k e Total curities All other 1926 Jan. 6_ 982,992 701,433 379,000 322,433 281,559 893,150 709,832 164,947 18,371 77,205 10,147 195,814 78,175 13 987, 707 706, 532 383, 828 322, 704 281,175 893,913 712,391 164,438 17,084 77,686 12,691 181,625 67,287 20__ ._. 983,261 704,552 384,343 320,209 278, 709 892,069 705,600 169,385 17,084 77,211 9,826 185, 546 71,858 27 988, 931 709,419 380, 977 328,442 279,512 888,002 698,799 172,122 17,081 76,011 10,355 176,385 62,586 Fftb 3 989,994 705,838 377,447 328,391 284,156 885,115 692,268 175,753 17,094 73,858 11,787 186,672 64,088 10 992, 689 708, 793 380,271 328,522 283,896 877,734 684,911 175,739 17,084 72,810 19,329 172,489 59,602 17 987,651 703,392 375,900 327,492 284,259 874, 773 681, 665 176,021 17,087 73, 759 21,223 180,619 64,259 24 979,556 696,391 371,784 324,607 283,165 867,288 675,502 174,712 17,074 74,148 20,513 176, 610 62,800 Mar. 3 979, 931 697,121 370,633 326,488 282,810 679, 795 169,017 17,084 75,087 18,951 189, 522 71,542 10 975, 360 696,090 366,834 329,256 279,270 673,254 169, 532 17,083 73,240 15,683 169,951 60,974 17 1,015,791 703, 927 372,015 331, 912 311,864 900,028 687,835 169.331 42,862 78,918 16,671 192,007 68,481 24_ 1,006,330 695,892 358,604 337,288 310,438 879,176 670,954 174, 620 33.602 68,371 25,811 168,280 65,423 997,080 694,168 359,485 334,683 302,912 889, 892 679, 610 176,679 33.603 73,171 18,037 171,142 73,318 Apr. 7. 995,339 699,411 362, 695 336, 716 295,928 885,868 673, 501 178, 764 33,603 76,440 13,212 176,543 70, 505 14 1,019,229 720,193 374,985 299,036 917,362 705,560 178,199 33,603 76,603 10,016 187, 582 74,905 21 1,017,435 715,835 375, 748 340,087 301, 600 911,403 701, 296 182,467 27,640 76,543 10,044 180, 597 70,310 28 1,018,243 718,392 372,179 346, 213 299,851 909,151 699,775 181, 736 27,640 75,290 10,276 178,849 62,821 May 1,010,018 711.608 372,915 298,410 909,863 701,671 181, 662 26, 530 78, 559 8,435 187,024 75, 707 12 1,025,186 725, 541 380, 901 344,640 299,645 918,238 710, 702 182.332 25,204 75,837 7,345 180,967 60, 579 1,006,036 707,644 369, 362 338,282 298, 392 899, 533 697, 392 180,087 22,054 79,221 7,722 177, 560 61,563 26 714,343 375, 771 338, 572 302, 916 901,959 696,862 183, 925 21,172 72,931 11, 565 174, 607 56, 781 June 1,009,275 708,767 374,080 334,687 300, 508 907,217 697,697 188,348 21,172 78, 783 10,098 186, 616 65,690 9__ 1,020,764 720,818 387,456 333,362 299,946 911,996 703,192 187,632 21,172 76,363 8,932 175,189 65,144 1,008, 593 714,110 383,030 331,080 294,483 903,221 696,288 185, 761 21,172 77,924 7,897 178, 341 68,038 23 1,005,185 715,105 384,860 330,245 290,080 891,035 687,153 182, 710 21,172 76,446 11,082 173,988 62,020 30_. 1,010,802 723,491 387, 732 335, 759 287,311 899,371 698, 502 182,342 18, 527 73,454 15,454 182, 677 68,719 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7 1,008, 387 718,618 ; 381,129 337,489 289, 769 903,360 1 703, 656 182,106 17, 598 76,216 8,152 184,569 62,380 1,005, 668 714,635 376,829 337,806 291,033 895,374 693,611 185,570 16,193 73, 513 11,301 173,396 59,869 21 1,008,362 715,296 376, 925 338,371 293,066 888,012 685, 607 186,212 16,193 71, 797 11,650 175,606 59,877 28- _ 997, 932 707, 939 371, 670 336, 269 289,993 883,411 682, 556 184,662 16,193 72,700 9,186 165,224 53,036 Aug. 4_ 994, 984 704, 651 366,823 337,828 290, 333 882,081 678, 541 187,409 16,131 74,299 9,872 168,073 58,217 11 999, 963 710. 852 370, 767 340,085 289, 111 890,857 690,025 186, 663 14,169 72,319 7,267 170,204 51,921 993,439 704;748 363, 592 341,156 288, 691 875,068 676,825 185,495 12, 748 72,479 14,246 171,413 52, 728 25 993, 576 703,202 365,802 3S7,400 290, 374 873,148 678,231 185,229 9,688 74, 561 20, 937 161,493 50,898 Sept. 1 998,891 708,393 368,516 339,877 290,498 885,244 682,367 193,189 9,688 70, 686 17, 724 165,239 65,646 1, 009, 551 719, 674 375,022 344,652 289, 877 894,172 692,279 192,205 9,688 74,091 15,148 166,047 58,225 15 1,022,119 722, 574 376,641 345,933 299, 545 910, 785 684, 325 195,155 31, 305 77,833 18,809 178,170 62,839 22 1,025,636 726,457 373, 513 352, 944 299,179 910,146 685,162 193, 679 31, 305 74,970 18,170 170, 521 54, 965 29 1,022,272 724, 300 373,884 350,416 297, 972 906,224 680,844 194,075 31,305 74,539 18,585 169,944 54,603 Oct. 6 1,032,163 736,312 385, 693 350, 619 295,851 915,882 692,246 192,331 31, 305 76, 530 19,996 178,974 55,460 13 1,026. 690 732,022 37S,203 353,819 294, 668 911,847 691,863 191,587 28,397 73,336 25,896 174,611 56,616 20 „ 1,019,681 726,145 377,359 348,786 293, 536 894,498 680, 592 194,451 19,455 70,645 19,456 168, 645 52,163 27 1,016,482 723, 720 374, 525 349,195 292, 762 905,052 695, 529 192, 988 16, 535 75,148 10, 796 160,838 49,299 3 Nov. 3 1,015,008 722,061 383,102 338, 959 292, 947 915, 738 703,736 195,467 16,535 79,867 9,951 172, 620 62,128 1,024,045 1 733,674 392, 604 341,070 290, 371 907,213 698, 320 194,841 14,052 73,481 12,104 164,405 59,860 17- 1,016, 562 726,887 384,870 342,017 289, 675 897,474 691,018 196,619 9,837 73,452 13, 506 166,289 56,106 24 1,017,235 728,165 386, 567 341, 598 289, 070 896, 720 688,170 199, 699 8,851 74, 728 15,467 159,043 49,218 i Dec 1 1,025,676 735,105 396,291 338,814 290, 571 891,938 684,866 198,221 8,851 75,174 28,299 164, 700 57,310 8 1,019,928 ! 730,367 393,553 336,814 289,561 900,139 694,576 196,712 8,851 76,105 12,904 157,209 48,894 15 1,036,949 738, 686 399, 539 339,147 298,263 912,342 694,047 197,052 21,243 75,014 21,187 166,393 61,066 22 1,033,809 736,208 399,203 337,005 297, 601 904,108 682,646 200,219 21,243 73,101 29,039 161,470 54, 530 29 1,027,432 733,443 403, 932 329, 511 293,989 899,989 680,862 197,884 21, 243 "5, 762 31,508 165,499 53,597 W to 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

288 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181J Total for 10 centers 1 Allentown, Pa.31 Month 1926 1925 1924 1926 1925 1924 January ... - | 2,262,212 2,173,091 1,925,455 40,270 32,909 29, 778 February j 1,892,279 1, 780,071 1,723,139 32, 226 28,815 27,413 March 2,324,295 2,105, 710 1,873, 812 38,439 34,313 30,969 April i 2,243,742 2, 024, 253 1,942,356 40,783 36,007 32,390 May. 2, 077, 523 2,071,159 1, 894,928 36, 877 35,963 30,558 June 2, 210,598 2, 296, 834 1,936, 205 37,189 36, 515 32, 218 July 2, 268,816 2,138, 248 1,902,728 40, 763 37,679 32,651 August 1,931,381 1,926,109 1, 748, 702 35,492 35, 796 29,832 September. 2, 095,388 2, 025, 711 1, 794. 021 36,175 35,060 31, 495 October 2,332,849 2, 298, 660 1,968,134 41,354 41,540 35, 148 November. 2,108,355 2,007,971 1,820, 722 36,356 35, 767 30,451 December.. 2,500,675 2, 405, 369 2, 242,478 41, 522 42,139 35,31 Total ! 26,248,113 25, 253,186 22, 772,680 457,446 432, 503 378, 222 Altoona, Pa. Camden, N. J.* Chester, Pa. Month 1926 1924 1926 1925 1924 1926 1925 January 15,968 15,858 14,210 73,165 59, 515 54, 553 26, 595 24,045 25,444 February.. 13,671 13,832 13, 586 55,941 46, 547 45, 224 22,709 21,047 23,045 March 17,189 14, 836 14, 785 65, 298 55,162 48,894 28, 507 24,179 25,930 April 16, 443 15,303 15,310 66, 754 56, 680 51, 807 27, 771 24, 410 22,555 May 15, 744 15,220 14,512 60,276 55,907 48, 808 24,841 24,387 23,633 June 16, 818 16, 496 15,471 69,315 65,867 52,807 28, 050 25, 686 21,856 July 16, 569 17,098 15, 533 66,064 59, 418 58,026 27, 757 27,861 22, 964 August 15, 680 14,181 16,305 55, 737 52,182 48, 675 26, 595 25, 401 20,997 September. 16,512 15, 784 13,501 62, 271 63, 660 50, 721 26,991 25,584 21,610 October 17, 751 17,468 14,318 67,630 72,877 58,151 30, 611 29,283 24,714 November- 16, 239 15, 761 15, 236 63, 854 64, 296 50, 916 26, 614 24, 246 21, 036 December . 18,088 17,102 17, 572 83,365 76, 039 67, 628 25, 255 28,164 24,012 Total 196, 672 188, 939 180,339 i9, 670 728,150 636, 210 322, 296 304,293 277, 796 Harris burg, Pa.* Hazelton, Pa.* Johnstown, Pa.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January... 45, 565 46,381 40, 067 12,827 14,084 12, 248 23, 464 22, 571 21, 795 February.. 37,159 38, 209 35,989 11, 201 13, 064 11, 560 20, 481 20,129 21, 525 March 43,869 45,436 39,515 14,479 14, 485 11,883 23,411 22,136 21, 687 April 43, 644 42, 987 39,144 13,860 14, g41 12, 717 24, 588 24,557 23,999 May 39, 835 42, 298 39,888 14, 574 14, 466 13, 527 24,297 23,606 22,499 June 44, 602 47, 016 37,311 15, 281 16, 447 14, 073 25,620 24,305 22,098 July 43,197 44,199 39,437 15,047 15,539 14, 653 25, 967 23,828 21, 778 August 42,905 42,870 36,334 15,498 14, 589 13, 094 25, 491 22, 941 21,697 September. 42,104 38,067 39,309 14, 622 14,469 14,147 26, 249 23,353 21,368 October 47, 514 46, 451 43,491 16, 756 15, 713 15, 507 27,001 26, 730 24,690 November- 44,801 42, 369 38,863 14,873 13,670 13,719 25, 564 24,411 21,900 December.. 51, 063 50,484 43,980 15,929 13, 704 14,600 26, 427 28,180 24,611 Total 526,258 526, 767 473,328 174,947 174, 571 161, 728 298, 560 286, 747 269, 647 * Figures for cities marked with an asterisk (•) are not included in the district summary or in the national summary for 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 3 PHILADELPHIA 289 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Lancaster, Pa. Lebanon, Pa.* Norristown, Pa.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January... 29,742 30, 239 27, 955 8,059 7,397 7,032 3,848 4,100 4, 562 February.. 24, 665 24,945 24, 370 6,432 6,212 6,307 3,139 3,279 3,39a March 35, 036 35, 262 32, 853 7,641 7,977 7.416 3,649 4,090 3,669 April 36,103 37,110 32,901 10, 289 9,174 8,577 3,892 4,495 3,849 May 27, 217 28,184 26, 808 7,824 7,943 7,041 3,862 4,765 3,773- June. 27, 998 30,047 26, 659 7,719 8,117 7,068 4,513 6,010 3,688 July 28, 613 30,354 26, 035 8,739 8,747 6,920 4,453 5,041 3, 618- August 24,929 27, 782 24, 052 7,098 7,554 6,799 3,986 4,939 3,366 September. 27, 780 28,196 27,146 7,680 7,553 6,669 4,017 4,363 3,482. October... 31,622 34,572 31,642 8,477 8,868 8,246 4,441 5,096 4,14& November.. 27,949 28, 317 25, 785 7,467 7,271 6,642 3,676 4,387 3,883- December. 29, 414 30, 557 8,185 8,196 7,703 4,499 4,294 4,513 Total 351,068 j 365,565 335, 087 95,610 i 95,009 86,420 47, 975 54, 859 45,939 Philadelphia, Pa. Reading, Pa.* Scranton, Pa. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January... 1,908,432 1, 816, 753 1, 602,165 47, 301 39, 692 45, 358 69, 540 83, 700 75, 807 February.. 1,596,071 1,483, 478 1,408, 212 40, 754 29, 872 38, 945 54, 700 67, 350 77,166 March 1,941, 978 1,766,532 1,540,381 48, 546 34, 307 39, 252 80,700 78,167 75, 667 April 1,876, 272 1, 677,101 1, 602, 872 47, 978 41, 221 36,056 77, 967 75, 643 75, 200 May 1,735, 906 1, 733, 358 1, 571, 816 48,628 41,150 40, 244 72, 753 73, 563 74,980 June 1,852, 665 1, 932, 621 1,610,962 47, 757 37, 969 37, 622 76, 680 82, 720 74,487 July 1,892,466 1,768,980 1, 570, 638 49, 676 42, 528 38,937 79,450 77, 833 77, 833 August 1, 592,420 1, 589, 080 1, 448,325 44,127 44, 652 35, 941 76, 617 73,900 68,300 September. 1, 738,153 1, 689,145 1, 478,165 44,778 44, 269 35, 496 79, 783 71, 867 75, 333 October 1, 938, 432 1, 922,146 1, 623, 087 49, 493 48, 682 37, 081 87, 770 73, 480 80, 587 November.. 1,766, 591 1,686, 345 1,513,365 47, 617 44, 842 34, 226 75, 820 58, 860 69, 740 December. 2,098,196 2, 043, 834 1, 871,374 51, 773 50,184 43,028 83,300 65, 320 80,440 Total. 21,937, 58221,109,373 18,841,362 I 568,428 499, 368 462,186 915, 080 882,403 905, 540 Trenton, N. J. Wilkes-Barre, Pa. Williamsport, Pa. Month 1925 1924 1926 1925 1924 1926 1925 January 73, 228 63, 907 58, 398 42, 343 53,759 47, 817 18,120 18, 350 17, 896 February.. 73, 070 56, 645 64, 063 34, 577 46, 046 46, 573 15, 583 15,177 15,164 March 72, 623 59, 778 61, 603 47, 524 48, 222 46, 533 20, 396 17, 436 17, 652 April 68,116 64,634 64, 654 49,383 51, 309 50, 641 19, 930 17, 714 18,482 May 69, 607 68,189 61,094 46, 822 50, 392 47, 810 19,041 17, 099 18, 213 June 72, 299 71, 759 60, 952 46, 023 53, 548 51, 889 19,478 18, 262 16,744 July 75,127 75, 701 64, 657 47, 752 52, 856 49, 081 20,108 18, 553 15, 579 August 64,428 64, 6C0 56, 224 47,169 49, 601 44,269 ] 7, 742 17, 451 15, 391 September. 68, 280 68,611 64, 568 49, 723 46,109 45, 984 19, 427 18, 940 16,127 October... 74, 072 74, 732 63, 229 54, 029 49, 417 51, 557 20, 239 20,606 17,602 November. 68, 481 69,149 59, 279 44, 685 41,347 46, 451 18, 253 16,438 14, 353 December. 91, 477 82,602 76, 762 54, 829 46, 708 57, 012 21,330 18, 643 16,825 Total 870, 808 820, 307 755,483 564,8 589, 314 585, 617 229,647 214, 969 200,028 Wilmington, Del. York, Pa. Month 1925 1924 1926 1925 January 54,630 43, 754 35, 476 23, 614 22, 726 20, 287 February.. 37, 626 33. 980 33, 200 19, 607 17, 571 17,760 March 56, 357 38; 785 36, 761 23,985 22, 513 21, 647 April 45, 535 37, 407 36, 977 26, 222 23, 622 22, 764 May 43, 262 38, 276 35, 585 22, 330 22, 491 20,477 June. 46, 295 42,166 35, 608 24, 292 23, 529 21, 577 July 55, 918 45, 496 41, 285 25,056 23, 516 19,123 August 44,111 39, 869 36, 540 21, 690 24, 244 18, 299 September. 46, 803 39, 721 32, 715 21, 936 21, 754 18, 872 October 54, 312 51, 306 39. 580 24,011 25, 350 21, 818 November. 42, 273 46, 302 34, 395 21,450 21, 206 21,082 December.. 53,968 47, 365 41, 422 24, 818 25,074 28,178 Total 581,090 504,427 439, 544 279,011 273, 596 251, 884 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

290 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES * IN PHILADELPHIA [Rates prevailing during week ending with 15th of month] Loans secured by Prime prime stock ex- Loans Month m lo c e a o r n m c s i - a 2 l I l b n o a a t n e n k r s - change collateral b r s y e e h c c o w e u u i r a s p e r e t d e s - C lo a a t n tl s e Demand Time 1926 January 5 *5 February 5 5 March 5 5 April 4^-5 5-6 May 5 June.- VA-iK 5 July 5 August _ _ 5 September. __ 5 October. ___. 5-6 November December 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans,'* without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. 3 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 4—CLEVELAND No. 1.—-CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 153,371 192,604 165,466 225,020 Gold redemption fund with United States Treasury 7,462 995 1,849 3,427 Gold held exclusively against Federal reserve notes. 160,833 193,599 167,315 228,447 Gold settlement fund with Federal Reserve Board 56,282 62, 916 40,158 68,752 Gold and gold certificates held by bank 46,532 47,340 21,407 12,177 Total gold reserves 263, 647 303,855 228,880 309,376 Reserves other than gold 11,400 9,551 9,365 5,561 Total reserves 275,047 313,406 238,245 314, 937 Nonreserve cash 6,134 5,069 5,934 5,184 Bills discounted: Secured by United States Government obligations __ 49,426 32,268 29,248 25,833 Other bills discounted 30,016 33.860 12,825 23,185 Total bills discounted 79,442 66,128 42,073 49,018 Bills bought in open market 33,217 4,990 41,217 44,046 United States Government securities: Bonds 1,170 8,103 11,126 918 Treasury notes . .. 18,266 19, 615 33, 858 9,030 Certificates of indebtedness. _ 16,719 8,691 15,066 1,247 Total United States Government securities 36,155 36,409 60,050 11,195 Foreign loans on gold _ _ 835 702 Total bills and securities 148,814 108,362 144,042 104,259 Uncollected items 66,324 68, 554 56,127 53,180 Bank premises 7,119 7,409 7,573 9,097 All other resources 887 1,030 333 207 Total resources _ _ _ 504,325 503,830 452,254 486,864 LIABILITIES Federal reserve notes in actual circulation _ _ 219,961 232,615 198,515 243,323 Deposits: Member bank—reserve account __ ._ _ 178,472 171, 928 163,019 151,670 Government 1,260 983 4,203 3,322 Foreign bank 3,013 883 216 176 Other deposits ___ 978 1,359 907 1,407 Total deposits. _ 183,723 175,153 168,345 156,575 Deferred availability items 62,308 59,105 49,460 49,897 Capital paid in - 13,618 13,176 12,756 12,333 Surplus 26,746 22,894 22,462 23,691 All|other liabilities.. 969 887 716 1,045 Total liabilities.... _ _ 504,325 503, 830 452,254 486,864 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 68.1 76.9 64.9 78.8 Contingent liability on bills purchased for foreign correspondents 6,040 7,526 4,994 2,051 291 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

292 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Date s T b e a t o i c i n e l t u d l s a s r l i- Total c G U u b o . r y S e v . d - O b d t i i h l s l - e s r b m o o B a p u i i r n e l g k l n s h e t t U s S e n t t c i a i e u t t s e e ri s d - l F e g o o i o o a g n l n r n d - s ern- countment ed obligations 1926 Jan. 6_. 113,434 71,012 36, W 34,825 5,210 36,409 130 177,535 223,792 13.. 110,845 65,954 40,053 25,901 7,657 36,485 749 303, 92017 830|218,925 20.. 106,594 58,067 33,662 24,4C5 11,347 36/485 695 298, 771174 4671207,951 27.. 92,734 43,880 26,286 17,594 12,171 35,987 696J314, 900 183401205,468 Feb. 3.. 87,349 38,158 19,105 19,053 14,800 33, 706 6851313, 3431181137199,588 10.. 97,671 49,658 25,443 24,215 15,326 31,906 781J313, 646189 147 204,466 17.. 93, 359 43,149 20,016 23,133 16,702#32,759 774499 330088,102 183,OU^-LO, 250 199,579 24.. 93,081 42,737 22,586 20,151 18,025 31,559 760J312,790 172,405| 175;179 208,223 Mar. 3 100,234 48,620 27,618 21,002 19.124 31, 559 931305,224179,034 184:,, 180 203,44878.7 10 ____107,453 52,007 24,643 27,364 21,009 33,496 941299,226 177',,130! 182!,,: 124)204,18977.5 17 I 95,433 48,232 29,008 19,224 20,883 25,494 824 299,302 174i,, 542|l7'7,,: 245! 199,05879.5 24 118,312 68,192 44,107 24,085 20,893 28,371 856 283,924 171, , i, 166 2f)3,33974.8 31 116,345 64,183 44,439 19, 744 21,023 30,229 991100 228866,880 170,688 181,188 201,458 75.0 Apr. 7_. 115,233 59,770 39,653120,117 22,326 32,195 942 286,, 776 173,601 181,397 199,948 75.2 14- 122,366 64,384 44,495| 19,889 21,076 35,975 931 285,896 180,482il85,332 201,678 73.9 21.. 109,428 51,262 32,039; 19,223 20.125 37,110 931 283,350 173, 701 176,791 194,206 76.4 28.. 107,515 50,836 34,259 16,577 18,702 37,110 867 291,970 174,345 176,139 201,413 77.3 May 5_. 101,452 47,056 29,834! 17,222 16,4771 37,116 803 294,404 176,005 179,729 196,303 78.3 12 123,012 69,384 51,128| 18,256 15,718| 37,118 792 279,823 179, 547J183,300 198,854 73.2 19 110,583 56, 96542,1421 14,823 15,6431 37,183 792 289,445 185, 756!l88,644 190, 708 76.3 26.. 106, 489 47, 465 32,412 15,053 21, 009 37,223 792 290,486176,995 179.714 194,795 77.6 June 109, 43246, 75733,444 13,313 23,994 37,729 952 284,463 174,709177,662 194,353 76.5 9.. 106,481 43,765 30,276 13,489 23,263 38, 554 899 286,665 177,9251180,173 193,368 76.7 16.. 116,397 44,359 32,0141 12,345 22, 328 48, 907 803 275,oio is:1,7551185,628 188, r' 73.4 23.. 111,436 48, 851 32,919| 15,932 24,515 37,353 717!284,947183, 664! 185,219 189,058 76.1 30- 108,014 47,413 34,572! 12,841 22,599; 37,414 588 284, 5•43"11V, 756il79,748 191, 712 76.6 July 7.. 101,681 40, 271 24,142' 16,129 23,5871 37,299 524 287,!79l70,654|l73,325|l94, 552 78.1 14.. 98, 80940,058 26,810i 13,248 20,995 37, 414 342 306, 737189,634|l93,011|194,541 79.1 21.. 94,714 34,655 24,868 9,787 22, 3?0 37,418 321 300,7f"185,092)190,108 186, 922| 79.8 28_. 89, 35930, 456 22,563 7, 893 21, 346 37,418 139 305,5518181,077186.062 189,315 81.4 Aug. 4.. 98,298 36,547 21,871 14,676 23,334 38,417 300,200 189,291 i 192,586 186,508 79.2 11.. 104, 00542, 890 25.185 17,705 23,014 38,101 1305,803190,045 193,433 196,276 78.5 18.. 102,925 39,717 28,455| 11,262 25,391 37, 817 J305; 497 190,102 195,501 194,6931 78.3 25- 99,803 38, lOf 27.186 10,919 26,484 35,214 316,349 192,181J194,611 200,879 80.0 Sept. 1- 95, 851 33,467 21,212 12,255 27,398 34,986. 313,122 184,012ll88,233 199, 263 80.8 8_. 98,031 37, 505 25, 250 12, 25526,200 34,326i 314, 250 180,413182,593 207,065! 80.6 15.. 112,127143,""" 28, 827 15,169 25, 463 42, 6681 303,009191,121I192,531 206,515 75.9 22_. 111,200 50,353 28,547 21, 27,102 33,745 301,361183 6781191,206 204,290 76.2 29.. 110,442 50,736 32,973 17,763 26, 610J 33, 300,766 180;,138 184,915 207,053 76.7 Oct. 6.. 120, 69858, 916 30,591 28,325 28, 092 33,690 289,756 186,067 188,640 203, 548 73.9 13- 135,115 74,187 42,176 32,011 27,238 33,690 288,929183,882!l87,513 211,0331 72.5 20- 136,604 75,139 40,681 34,458 26,775! 34,6901 275,240S188, 2831191,030 203, 207 69.8 27- 136,960 74,122 43,865! 30,257 28,148 34, ' 282,526il83,030|l86,015 209,346 71.5 Nov. 3.. 134,826 69,260 38, 8651 30,39530,024 35, 542 280,157|181, 867il86,705 205,309 71.5 10.. 149,172 82,050 52,416j 29,634 31, 580 35, 542 263,5821177,070183,606 208, 625] 67.2 17.. 143,939 75,981 48,950 27,031 32,416 35, 542 268,992 187,1331192,908 204,0721 67.8 24- 141,246| 74,835 44,865 29,970 30, 903 35,508 279,140178,705,185,173 213,432| 70.0 Dec. 1- 141, 8081 75,890 50,155 25,735 30,669 35,249 277,088 179, 552; 185, 502 213,228 69.5 152,932! 83,930 49,695 34,235 33,100 35,902 269,229 177,147J182,896 218,9491 67.0 15 158,769 88,742 54,363 34,379 35,354 34,673 268,884 185,333|187,789 224,448 65.2 22 171,670 99,744 63, 76735,977 36,184 35,742 254,1501175,513 180,756 235,614 61.0 29 167,378 97,147 68,240 28, 90734,488 35,743 259,310!l80,034(183,524 225,601 63.4 J Daily average: 1926— 114,140 55,323 22, 997 35,381 439 294,183;179, 202J183,181 203, 893 76.0 1925 __. 111,919 53,024 22,496 35,387 1,012 294,4101174, 737(178,206 208,18lj 76.2 1924 95,286 32,679 19,0551 43,494 312,3371166,1941170,793 2166,, 3rt8O0": 80.7 1923 106,765 51,717 36,380 18,668 312,1321158,370162,723 23177,,238| 78.0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member banks Bills bought in open market Bills U.S. Month p d u is T r a c c o n o h t u d a a n s l e ts s Total c M o b n l e l o a m a t n t e e b k s r e a r l c R o b u e i d n ll i t s s e - d Total o B ut o r u ig g h h t t i W ag i r th ee r m es e a n l t e fro F b r b e m e o a s d u e n e g o r k r v h t s a h e t l er s m i e b n c U o a u r o u . r k p g i S t e e h i . n t e t 2 s f s ro F e b r b e m c o e a s u d u e n r e o g r i k r t v t h i a s h e e t l e s r l F o o a g r n o e s l i d g o n n 1926 January... 230,215 218,015 205,419 12,596 | 10,940 10,940 1,163 76 21 February.. 152, 958 139, 673 134, 383 5,290 10,435 10,435 758 1,075 1,017 I March 307,858 288, 703 271,160 17, 543 11,138 11,138 7,792 225 April 237, 614 216, 726 205,818 10, 908 12,980 12,980 7,310 523 75 May 307,330 289,323 280, 750 8,573 16, 603 16, 603 441 963 a June 309,039 246,986 239,840 7,146 13,715 13,715 48,034 251 53 July.... 258,232 240, 643 233, 917 6,726 10, 368 10,368 3,614 2,251 1,238 118 August. 197, 215 173,261 168,490 4,771 14, 687 14, 687 2,001 200 7,066 September- 317, 339 279, 642 266, 679 12, 963 11, 520 11,520 2,651 23, 526 October 468,450 450,809 433,461 17,348 12,946 12,946 3,101 1,594 November.. 501, 201 480, 396 465, 271 15,125 12, 862 12,862 4,200 3,743 December.. 710,119 680,201 658,265 21,936 | 15,377 15,141 236 2,890 11, 552 Total: 1926. 3,997,570 il 3,704,378 3, 563,453 140,925 I 153,571 153, 335 236 20, 378 107,594 9,177 2,472 1925. 3,328,918 I 3,158,818 3,014, 704 144,114 I 115, 583 115, 583 49,370 976 4,171 1924. 1, 580, 502 1, 348, 0251,102, 202 245,823 I 116,070 116, 070 112,603 3,102 702 1923. 2,985,967 2, 436, 808 1,817,359 619,449! 196,774 196, 774 6,796 345, 589 1 Includes bills payable in foreign currencies as follows: 1926, $5,684,000; 1925, $3,469,000; and 1924, $645,000. ? Includes special temporary certificates received from the Secretary of the Treasury, as follows: June, $40,500,000; September, $13,000,000; 1925, $20,000,000; and 1924, $11,000,000. to Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

294 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4,—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Pennsyl-1 Ken- West Number Month vania 1 Ohio tucky 1 Virginia1 Total Number accomat end of modated month 2 during the month 1926 January... 118, 390 1,873 3,844 218,015 861 308 February.. 56,120 79, 276 1,979 2,298 139,673 861 263 March 180,641 101,407 2,214 4,441 288,703 860 295 April 129,448 | 80,915 2,588 3,775 216, 726 860 312 May.__ 223.816 ! 59,111 1,748 4,648 289,323 861 310 June 172,051 ': 68,901 1,888 4,146 246, 986 860 312 July.... 166,201 69,878 1,772 2,792 240,643 859 273 August. 107,135 I 62,121 2,368 1,637 173, 261 857 251 September... i 191,094 i 84,792 2,075 1,681 279, 642 857 261 October__ ] 319,203 j 128,784 2,139 683 450,809 857 270 November ..! 363,303 i 113,615 2,064 1,414 480, 396 856 283 December.. .J 518,649 I 156,417 1,391 3,744 680,201 856 315 Total: 1926 2,546,051 jl, 099,125 24,099 35,103 3,704,378 1925 2,000,223 1, 083, 257 28,418 46,920 3,158,818 1924 787,745 489,691 29,818 40,771 1,348,025 1923 I: 933, 910 41,362 34,782 2,436,808 Number of member banks at j end of year:2 1926 ! 332 430 80 I 856 1925__ I 327 441 80 863 1924 i 329 ! 447 81 872 1923 _i 328 ! 456 81 Number of member banks accommodated during the year: 1926. 151 ! 276 466 1925.- 155 | 285 483 1924 155 ! 281 485 1923 145 I 282 470 1 Figures relate only to that part of the State located in the Cleveland district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital-stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 4 CLEVELAND 295 No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills $2,211,738 $1,897, 730 $1,361,771 $2,326, 579 Purchased bills 818,378 702,881 670,338 1, 511, 554 United States securities 1,274,279 1,245, 563 1, 581,943 739,935 Deficient reserve penalties.. 30,133 15, 502 16,669 29,564 Miscellaneous 183,356 151, 780 139, 968 47,458 Total earnings 4, 517,884 4,013,456 3, 770,689 4,655,090 CURRENT EXPENSES Salaries: Bank officers 214,238 227, 500 225,000 | 223,067 Clerical staff 1,009,990 1,041,093 1,105,384 j 1, 045, 915 Special officers and watchmen 101,536 98, 767 100,178 97,326 All other 225,858 219, 093 231,662 178,431 Governors' conferences 289 304 425 492 Federal reserve agents' conferences 197 127 189 211 Federal Advisory Council 531 562 745 950 Directors' meetings 7,085 7,585 7,669 7,812 Traveling expenses J 17,910 19,409 22,434 19,218 Assessments for Federal Reserve Board expenses 76,835 75, 588 72,332 76,158 Legal fees 11,716 10, 949 13, 526 7,059 Insurance (other than on currency and security shipments) 35, 774 40,035 44,345 28,300 Insurance on currency and security shipments 72,116 68,346 66,154 72, 779 Taxes on banking house „ 134,450 131,963 163,226 27,528 Light, heat, and power 43,60J) 39,206 38,536 21,019 Repairs and alterations, banking house 24, 943 19,398 14,657 5,830 Rent. 20,191 33,307 47,064 129, 650 Office and other supplies, 30,512 35,180 48,047 57,833 Printing and stationery.. 44,015 52,874 63,870 68,753 Telephone 12,931 13,621 14,126 14,929 Telegraph 36,441 36,336 35,802 37,614 Postage 160, 796 151,115 151,674 156,677 Expressage 27,633 25, 647 25, 992 21,147 Miscellaneous expenses.__. 53,604 45,844 48,419 Total, exclusive of cost of currency 2,362,643 2,401,609 2, 538, 881 2,347,117 Federal reserve currency, including shipping charges: Original cost ." 155,949 172,893 99,618 182,662 Cost of redemption 13,154 25,127 26,351 20,880 Total current expenses 2, 531, 746 2,599, 629 2,664,850 2,550,659 PROFIT AND LOSS ACCOUNT Earnings 4, 517,884 4,013,456 3, 770, 689 4,655,090 Current expenses 2, 531, 746 2,599,629 2, 664,850 2,550, 659 1,986,138 1,413,827 1,105,839 2,104,431 Current net earnings 10, 549 333,802 39,997 11,951 Additions to current net earnings Deductions from current net earnings: Bank premises—depreciation 290,414 271,978 1,509,445 699,651 Furniture and equipment 45,166 34, 960 102,466 336,702 Reserve for self-insurance 200,000 100.000 All other 345 30,115 7,078 58,808 Total deductions. 335, 925 537,053 1,618,989 1,195,161 Net earnings available for dividends, surplus, and franchise tax 1, 660, 762 1,210,576 2-473,153 921,221 Dividends paid 808,505 778,811 756,152 725,626 Transferred to surplus account. 852,257 431,765 3-1,229,305 195, 595 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries. . 14,648 13,920 48,121 227,947 All other. 4,260 4,632 11,848 80,314 Total. 18, 908 18,552 59,969 308,261 i Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. * Deficit in earnings before payment of dividends. 3 Deficit in earnings after payment of dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

296 ANNUAL REPOKT OF THE FEDERAL RESERVE BOARD No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 12,530 13,177 11,036 12, 092 Notes discounted _ 26, 547 29, 668 28,427 34, 932 Bills purchased in open market for own account 11,616 8,672 10, 059 16, 021 Currency received and counted 151,404,000 145, 093, 000 135, 693,000 128,085, 00O Coin received and counted 184, 583, 000 183,291,000 176,965, 000 161, 788, 000 Checks handled 73,487, 000 68, 888, 000 68, 039, 000 67,433, 000 Collection items handled: United States Government coupons paid 4,806, 000 5, 066, 000 5, 475, 000 6, 434, 000 All other 373, 000 381,000 442, 000 390, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 459, 000 819, 000 2, 483, 000 1 17, 228, 000 Transfers of funds 89,000 95, 000 90,000 88, 000 AMOUNTS HANDLED Bills discounted $3, 704,378, 000 $3,158,818,000 $1, 348, 025, 000 $2, 436,808, 000 Bills purchased in open market for own account 153, 571, 000 115,583,000 116, 070, 000 196, 774, 000 Currency received and counted 939, 106, 000 874, 797, 000 833,126, 000 321,051, 000 Co in received and counted 16,309, 000 16, 519, 000 14,419, 000 12, 499, 000 Checks handled 28, 614, 232,000 26, 652, 412, 00023, 874, 737, 000 24, 354, 352, 000 Collection items handled: United States Government coupons paid _ 62, 849, 000 | 64, 834, 000 64, 778, 000 63,857, 000 Allother 502, 476, 000 | 476, 805, 000 427, 264,000 469,979, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 273, 650, 000 324, 788, 000 | 348, 600, 000 I 900, 529, 000 Transfers of funds 4,460,935,000 5, 333, 830, 000 4, 752,346, 000 j 3, 649, 583, 000 i Large total due to redemption of war savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars! I Month I i j I m m I e t e e o m m m w b b s e n e r r d d r b a i a s a n w t n d r n k i c s n o t o i n n n- I F te b e m d a b n e s r r k a a d n l a r c a n r h e w d e s s n e it r s o v n e ' w b F a e a n d r I b d k t e r e e s r a m a d n a l s n c t r o d h f e o e s o t s r e h t - h r e v e i e r r I U te n m T i r s t e e d d a r s a u S w r t e a n r te o s n N b u e m r -1 Amount N b u er m - I ; Amount Xu b m er - S jAmount N b u e m r - N b u e m r - 1926 January 5,470 1, 214,155 956, 440 201 69,155 160 20, 793 5,860 2, 262,499 February 4,894 1, 059,981 776,637 185 60, 527 145 16, 568 5,247 1,915,198 March 5, 871 1,284,331 1,049,354 231 77, 746 199 21,320 6,330 2, 434, 731 April 5,487 1, 204,192 924,418 205 62,900 248 26, 858 2, 220, 022. May 5,312 1,186, 240 1, 012, 528 186 63, 066 196 22,178 5,722 2, 285, 793 June 5,731 1, 279, 798 1, 043,390 204 71, 709 175 22, 912 6,139 2,419,653 July 5,590 1, 258, 763 1,042, 962 212 77,416 171 22,879 6,005 2, 404, 091 August 5,230 1,172, 805 918,348 191 65,957 170 20, 020 5,621 2,179,067 September 5,400 1, 268,195 1, 011, 928 200 72,332 206 21,983 5,835 2,376, 280 October 5,855 1,322, 019 1,185,626 215 69,366 265 25, 215 6,364 2,604, 024 November 5,776 1, 240,440 1,102, 025 228 61, 689 213 22, 057 6,245 2, 428, 084 December 6,345 1,327,388 1,343,452 284 72, 929 193 22,954 6,851 2, 768,407 Total: 1926.- 14, 818, 307 194 12,367,108 2,542 824, 792 2,341 265, 737 72,187 28, 297, 849 1925..62, 850 15, 426, 505 125 9,941,143 2,327 719,145 2,265 253, 585 67, 70726,363, 254 1924..61,839 14,206,114 134 8, 415, 983 2,388 687, 506 2,383 245,396 66,875 23, 574, 504 1923..261,397223, 093, 306 (3) 2,264 678,013 2,536 254,317 66, 31324,045,878 1 Includes items forwarded direct to drawee banks in other districts as follows: 1926—149,000 items, $21,905,000; 1925—140,000 items, $22,876,000; 1924—131,000 items, $19,505,000; 1923—116,000 items, $20,242,000; excludes duplications on account of items handled by both the parent bank and one of its branches, or by both of its branches. * Includes items drawn on Federal reserve bank and its branches, separate figures not being available, Digitized for F 3 IRnAclSudEeRd in preceding columns. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 4—CLEVELAND 297 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal re- Transfers for Total Total Transit clearing serve note Government pay- receipts 1926, week ending— clearing account t F o m e o d e t e n h r t e a s r l F o f e r t d o h e m e r r al N lo e ss t g N a e i t n Pay- Re- Pay- Re- Pay- Re- reserve reserve ments ceipts ments ceipts ments ceipts banks banks 6 (5 days). 150.0S8 135,297 842 2,000 152,940 136,263 166,, 6I77 13 160,905 165,940 2,612 1,000 164,517 166,8 2,291 20.. 178,693 167, 202 2,290 2,023 180, 983 1699,225 11,758 27 164,564 9 " 3,157 923 167, 721 193, 609 257888 Feb. 169, 637 169,228 1,814 807 171,451 170,035 1,416 143, 958 149,230 1,6321 759 145, 590 149,989 152, 937 147,320! 1,364! 581 154,301 147,901 6,4o6 149,312 156,413 9861 666 150,298 157,079 6,781 Mar. 3.. 189,635 182,3951 2,526 990 192,1611 183,385 8,776 10.. 154,943 153,908 1,468 693 156,411 154,601 1,810 17.. 176, 812 188,892 1,566 728 13,000 191,378 189,620 1,758 24.. 176,481 180, 835 1,412 757 17,000 194,893 181,59213,301 31.. 166, 518 169, 660 1,610 918 168,128 170, 578 '27450 Apr. 158,241 161,045 1,861 160,102 161,766 1,664 14.. 165,635 169,714 1,067 166,702 170,408 3,706 21.. 179,934 178,399 1,655 1,000 181,589 180,208 1,381 28.. 179,289 187,739| 1,531 949 180,820 188, 688 "7,~868 May 5.. 156,361 158, 526 2,068 822 158,429 159,348 919 12.. 162,638 151,178 1,318 871 163,956 152,04911,907 19 . 179,087 190,663 2,363 912 1.000 500 182.450 192,075 "§"625 26.. 174,685 180,259 1,403 7 4 176,088 181,033 4,945 June 164,166 157,712 1,555 696 165, 721 158,408 7,313 158,108 161, 521 1,789 1,060 2,000 3,500 161,897 166,081 4,184 16.. 174, 534 166, 989 1,551 498 2.000 178,085 167,485 1100,,600! 23.. 184, 689 197, 760 1,278 1,588 3,000 2,000 188,967 201,348 12,381 30.. 184,693 188,115 2,249 559 4,00C 1,000 190,942 189,674 1,268 July 135,225 143,204 1,379 842 2,500 139,104 144,046 4,942 14. 164,601 183,974 1,612 1,078 166,213 185,052 18,839 21. 188,480 179,355 1,384 1,052 189,864 180,407 9,457 28. 173,835 182, 856 2, 695 1,009 176.530 183,865 -7-335 Aug. 4.. 174,458 17O,813| 1,953 830 176,411 171, 643 4,768 11 141,255 151,326| 1,750 630 500 143, 505 151, 956 8,451 18 174,770 174,069 1,571 908 500 176, 841 174, 977 1,864 25 169,273 188,191 1,916 735 4,000 175,189 188, 926 !l3,737 Sept. 1- 161,491 157,751 2,443 163,934 158,650 5,284 8. 122,708 125,093 1,196 1,104 1,000 900 124,904 127,097 2,193 15. 167, 905 159,532 2,763 713 3,000 173,668 160,2451.33,,423 22.. 193, 977 198,322! 1,581 1,169 6,000 201,558 199,491 2,067! 29. 180,890 185,971 3,894 1,1 184,784 187,060 ; 2,276 Oct. 6 187,936 177,386 2,297 1,152 190,233 178,53811,695' 13 158,259 161,201 l,r" 749 160,225 161,950 1,725 20. | 212,096 200,175; 2,058 988 5,000 2,000 219,154 203,163 15; 27 _ | 181,609 190,550; 2,602 1,232 1,000 184,211 192, 782 8,571 Nov. 3 1 162,657 160,142! 1,151 852._._ 1,000 163,813 161,994 1,819' 10-_ ' 169,122 155,073| 2,902 814 1,000 173,024 155,887 17,1371 17 I 173,061 180,830; 1,811 925 3.000 177,872 181, 755 I 3,883 24 | 177,560 190,417) 1,884 767—. 179,444 191,184 111,740 Dec. 1 ! 167,981 165, 803 1,740 960- 169,721 166, 2,958 8 | 165,944 162,511 1,907 167,851 163, 4,3 15. j 170,051 173,354; 1, , 174,031 174, 102 22 1 190,806 199,087| 1, 850 779 2,000 3,000 211,656 203, '8,-383 3 2 1 9 (2 days) I ! 1 6 6 2 4 , , 0 7 6 3 1 2 1 7 6 7 5 , , 2 8 9 3 5 8 1 ' 1,2 2 4 5 1 8 1 1 , , 1 0 8 6 6 8 s 19,000 1,000 16 6 5 3 , . 3 9 1 7 9 3 16 7 7 7 , , 14 , , 9 0 3 5 3 7 811 1,000 Total: 1926 !8,849,296 8, 968, 745 96,756 47,273 93,500 16,900 9,0391,,552 91,,032,918 6,634 1925 ' ._ I 87,000 12,500,8,316,788 8;,, 397,046 1,258 1924 1 .121,500 16,700j7,576,542 77,, 551,353 25,189 1923._ I. I 79,000 43,700,7,314,202 7";410 226 96"024 Net gain in ownership of gold since establishment of fund in 1915, $563,705,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES fcO CO [Amounts in thousands of dollars] 00 CLEVELAND DISTRICT Loans and investments Call date Total Investments s C d a p u n i a r r v d o p p i f i d l u t i u t a e n s s l d - , , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p im os e its d U S e n p ta o i t t s e e i s d ts b D a t n o u k e s d d e e p N m o e a s t i n t d s3 p a e d d l n r u e e n d N s p m m G o e t a i s t e o n m i n t d v s t e - R F re b e w e s d a s e i e e n t r r r h v k v a e l e p c r a B o e a y d u n i a l i n d l b s s t - l s e r b N b e a i e p u n r n o m g k r o t s - f - 1921 Dec. 31 2, 338, 895 1,601,556 737, 339 271, 586 465, 753120,055 443, 5402,139,429 1,108, 622 829, 679 31, 965 169,163 1,152, 249 2,013, 893 132,128 128, 576 883 1922 Mar. 10 2, 375, 400 1,604,522 770, 878 295, 464 475, 414136, 594458, 2922, 237, 915 1,135, 251 31,023 184, 677 1,197,538 2,115,525 132, 516 65, 431 2, 427, 966 1,623,893 804, 073 313, 979 490,094 143,735 464, 9652, 346, 559 1, 221, 410 15, 308 193, 943 1,270,627 2,201,833 141, 369 47, 375 June 30 2, 579, 824 1,675,682 904,142 380,023 524,119 159, 714479, 4402, 531, 920 1, 265, 296 1,005, 547 35, 701 225,376 1,367,897 2,409,145 153, 239 57, 936 Dec. 29 1923 2, 649, 912 1, 738, 260 911, 652 400, 648 511,004 165, 469482,034 2, 628,107 1, 340, 592 1,024, 774 28,690 234,051 1, 406, 792 2, 460, 256 159,367 44,112 878 Apr. 3 2 2 , , 7 7 4 4 8 8 , , 5 7 3 9 2 4 1 1 , , 8 8 3 3 9 0 , , 6 7 7 2 6 5 9 9 0 1 8 8 , ,0 8 6 5 9 6 3 3 8 8 9 4 , , 4 66 7 4 5 5 5 3 1 3 9 , , 4 38 0 1 5 1 1 5 5 3 3 , , 0 48 3 4 24 4 8 9 4 3 , , 3 45 6 1 02 2 , , 6 6 5 9 5 3 , ,1 0 0 7 0 4 1 1 , , 3 3 5 5 8 9 , , 2 4 7 1 4 1 1 1 , , 0 1 6 0 8 4 , , 2 3 6 4 8 8 18 7 , , 6 9 0 1 8 9 2 22 0 2 8 , ,4 8 7 7 6 0 1 1 , , 4 4 2 14 1 , , 1 8 1 6 5 8 2 2 , , 5 5 3 0 3 2 , ,0 0 5 7 5 1 1 1 5 5 1 9 , , 2 1 1 6 3 2 8 6 5 5 , , 3 2 6 4 6 2 881 J S u e n p e t. 3 1 0 4 2, 742, 357 1, 842, 931 352, 950 546, 476147,088 492, 5862, 697, 518 1, 330, 795 1,135, 752 27, 205 203, 766 1, 358,061 2, 521,018 152,093 59, 259 877 Dec. 31 1924 Mar. 31.... 2, 798, 580 1,863,958 934, 622 376,161 558, 461159, 580 501, 8372, 747,084 1,329,967 1,172,043 34, 566 210, 508 1, 382, 954 2, 589, 563 156,029 47, 726 876 June 30 2, 839, 510 1,877,41" 962, 093 392, 286 569, 807178,200 504, 6022, 833,151 1,351, 661 i 1,233,441 19,129 228, 920 1, 410, 704 2, 663, 274 158,172 32,027 873 Oct. 10 2, 940, 776 1,899,952 1,040,824 455, 594 585, 230202,198 519, 3402, 950, 941 1,373,851 1,252,237 33,165 291, 688 1, 487, 798 2, 773, 200 168, 858 31, 822 872 Dec. 31 2, 933, 60^ 1, 902, 639 1,030, 968 438, 398 592, 570169,""" 513, 3412,917,538 1,366,691 1,246,764 22, 816 281, 267 1, 453, 578 2,723,158 163, 593 62, 202 871 1925 Apr. 6..---- 3,007, 345 1, 977, 713 1,029,632 431, 855 597, 777169,015 525, 2962, 997,165 1,382, 690J 1,298,976 48, 567 266, 932 1,479,488 2,827,031 177, 348 48, 288 June 30 3, 032, 643 2,015, 960 1,016,683 414, 353 602, 330158, 871 523, 6863,033, 791 1,428,469; 1,328,000 24, 696 252, 626 1,503,669 2,856,365 175, 224 52, 484 865 Sept. 28 3,098, 474 2,070, 995 1, 027, 479 423, 264 604,215 161,947 520, 3333,051,594 1,428,668' 1,342,045 35, 393 245, 488 1, 502, 369 2, 879, 807 176, 535 72, 941 864 Dec. 31 3,060,616 2, 063, 984 ' 996, 632i 388, 837 607, 795170, 764 516,112 3,052,003 1,437,733 1,338,656 27, 751 247, 863 1,472,6561 2,839?063 172, 340! 80, 880 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1926 Apr. 12 3,130, 957 2,116, 64' 1, 014, 310 413, 813 600,497 161, 630 527,090 3,096,088 1, 425, 482 1, 388, 458 41, 796 240,352 1, 477, 233 2,907,487 177,825 71, 778 June 30 3,166, 831 2,141, 394 1, 025, 43' 402, 385 623,052 177, 936 526,168 3,168, 849 1, 477, 543 1, 426, 613 25,181 239, 512 1, 528, 780 2,980,574 179,455 64,904 860 Dec. 31. 3,139, 492 2,150, 805 353, 932 634, 755 170, 64" 529, 783 3,128, 389 1, 438, 238 1, 423, 674 20,495 245, 982 1, 470,002 2, 914,171 { 179,490 98, 322 856 CITY OF CINCINNATI 1925 Dec. 31 245, 90.1 176, 766 69,135! 19, 796 49, 330 14, 369 43, 921 255,079 117, 924 97, 809 1,623 37, 723 122, 656 222,088 15, 246 8,187 13 1926 u J A u p n r e . 3 12 0 2 2 4 4 5 7 , , 3 4 3 3 0 5 1 1 7 7 5 8 , , 1 3 2 7 4 7 7 6 0 9 , , 2 0 0 5 6 8 2 21 2 , , 1 8 0 4 1 3 4 47 8 , , 1 2 0 1 5 5 1 1 6 6 , , 0 9 3 52 7 4 44 4 , , 9 5 8 6 6 1 2 2 5 4 5 9 , , 0 3 1 4 2 9 1 1 1 1 6 4 , , 8 2 2 1 4 1 10 9 2 7 , , 0 7 1 8 9 8 3 1, , • 0 " 0 " 5 3 33 5 , , 1 7 1 0 4 7 1 1 2 2 4 0 , , 7 51 2 9 9 2 2 2 2 0 9 , , 2 5 1 4 0 3 1 16 3 , , 0 4 7 7 3 5 9 7 , , 4 2 7 2 5 2 1 1 3 3 M Ul Dec. 31 249, 894 179,506 70,388 19, 617 50, 771 17, 926 44, 857 258,037 116, 353 103, 856 1,040 36, 788 120, 906 225, 802 16, 251 8,821 13 3 § CITY OF CLEVELAND 1925 T Dec. 31. 663,131 534, 223 128, 9081 48,511 80, 397 20,141 74, 092 695, 922 249, 644 390, 98; 4,758 50, 533 245, 401 641,146 35, 546 20,402 10 1926 j Apr. 12 692,314 541, 555 150,759; 66,965 23, 369 74, 628 747,! 271,948 415, 231 9,282 51,408 692, 901 42, 206 6, 926; 10 June 30 724, 938 576, 782 148,156 61,055 87,101 27, 959 74, 990 779, 757 283, 485 439, 524 5,416 51,332 281, 391 726, 331 37,043 7,6011 9 < Dec. 31 694,131 553, 674 140, 457| 44, 430 96,027 19, 680 74, 900 731, 652 243, 679 430,168 5,104 52, 701 242,102^ 677, 374 37, 967 24,184! F > CITY OF COLUMBUS 15,014 7,602 14, 728 106, 095 62, 842J 26, 768 3,126 13, 64, 481 94, 375 8, 909[ 2, & 14, 916 8,746 15,005 108, 341 67, 420 24, 630 2,890 13,401 68, 621 96,141 8,549 3,861 16, 893 8,035 14, 753 105, 952 65, 371 23, 994 1,633 14, 954 69,116 94, 743 8,719 2,614 15, 782 8,415 14, 822 110,534 71,123 23, 426 1,644 14,341 71,400 96, 470 8,358 1,255 i Including rediscounts and overdrafts, 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued o o [Amounts in thousands of dollars] CITY OF PITTSBURGH Loans and investments Call date Total a c L n o d u o n a d n ts i s s * - Total Inv G es m U o t . v m e S e n . e r t n n - ts s O ec th u e ri r - b f D a ro n u m k e s s C d a p u n i a r r v o d p p i f i d l u i t u t e a n s s d l - , , de T p o o t s a i l ts d D e e p m os a i n ts d 2 j de T p i o m s e its d U S ep n ta o i t t s e e i s d ts b D a t u n o e ks d d e e p N m o e s a t i n ts d s p a e d d l n r u e e n d N s p m m o e t G a s i t e n m i o n t d v s t e - R F re b e w e s d a s e i e e n t r r r h k v v a e e l p c r a B o e a y n u d i a d l n i l b s s t - l s e r N b b e a i e p u n r n o m g k r o s t - f - 8 securi- ties I 3 ties o 1925 Dec. 31 643, 531 328, 395 315,136 154, 71: 160,419 34, 750138, 690 640, 885 389, 294 121, 094 14, 865 115, 632 428, 895 564, 854 45, 460 6,612 20 1926 Apr. 12 661, 704 356,165 305, 539 155, 550 149,' 26, 789141, 538 632,104 368, 850 128, 994 22, 616 111,644 421, 739 573, 349 45, 769 12, 628 20 J D u e n c e . 3 3 1 0 _ 6 6 7 6 1 0 , , 8 8 3 4 2 6 3 3 6 5 3 4 , ,1 8 4 6 6 5 2 3 9 1 6 7 , , 9 6 8 8 1 6 1 1 4 5 0 5 , , 9 62 8 4 0 1 1 6 5 1 6 , ,3 7 5 0 7 6 3 2 0 9 , , 9 2 1 5 0 31 1 4 4 2 4 , , 6 6 1 1 5 0 6 6 3 4 3 3 , , 6 7 3 3 8 3 | 3 3 9 9 0 4 , , 0 3 1 2 3 0 1 1 1 2 2 4 2 , , 1 7 6 0 4 1 1 7 3 , , 8 8 8 9 4 3 1 1 1 1 3 1 , , 0 4 4 0 0 6 4 4 2 4 6 2 , , 0 9 4 6 9 4 5 5 5 8 6 1 , , 0 6 2 3 1 4 4 49 7 , , 7 6 1 55 4 2 1 9 8 , , 2 80 6 4 8 2 2 0 0 CITY OF TOLEDO so" fed 1925 CZJ Dec 31 6,460 4,097 32, 970 1,154 9,521 40,366 74, 490 4,719 i 1926 Apr. 12 6,093 4, 326 37, 692 38,021 900 9,348 38,453 77, 374 5,063 W June 30 6, 4021 5, 871 37, 354 39, 922 504 8,332 37, 215 77, 641 4,750 o Dec. 31 6, 276 4, 262 36, 925 38, 042 660 9,491 38, 013 76, 715 4,999 * Including rediscounts and overdrafts. a Including certified and cashiers' or treasurers' checks outstanding. « Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 4 CLEVELAND 301 No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (863 1926 (860 1926 (860 1926 (856 banks) banks) banks) banks) RESOURCES Loans and discounts _ 2,063,093 2,115,622 2,140,486 2,149,864 Overdrafts _._ 891 1,025 908 941 United States Government securities _ 388,837 413,813 402,385 353,932 Other bonds, stocks, and securities 607, 795 600,497 623,052 634,755 Total loans and investments.- 3, 060,616 3,130,957 3,166,831 3,139,493 Customers' liability on account of acceptances 7,895 9,661 6,143 8,687 Banking house, furniture, and fixtures._ 127,329 129,680 132,575 133,967 Other real estate owned _ 17,104 17, 958 17, 982 19,336 Cash in vault _ 62, 752 57, 975 57,435 57,686 Reserve with Federal reserve bank 172,340 177,825 179,455 179,490 Items with Federal reserve banks in process of collection. 74, 283 68,966 68,334 75,419 Due from banks, bankers, and trust companies 170,764 161,630 177,936 170,647 Exchanges for clearing house, and checks on other banks in same place __ 53,305 41,928 42,308 64,226 Outside checks and other cask items. _ 8,901 10, 905 9,605 10,242 Redemption fund and due from United States Treasurer 4,284 4,276 4,326 4,330 United States securities borrowed1 1,750 2,523 8,784 12,664 Other securities borrowedl 122 45 364 300 Other assets _ 16,783 14,415 15,624 17,523 Total. 3, 778, 228 3, 828,744 3,887,702 3,894,009 LIABILITIES Capital stock paidin 214, 065 216,215 216,513 216,085 Surplus fund _ 230, 859 232, 776 234,498 243, 519 Undivided profits, less expenses and taxes paid 71,188 78, 099 75,157 70,179 Reserved for taxes, interest, etc., accrued. _ 15,354 18,362 15,422 15,608 Due to Federal reserve banks 4,722 5,157 2,954 4,051 Due to banks, bankers, and trust companies _ 243,141 235,195 236,558 241,931 Certified and cashiers' or treasurers' checks outstanding. 60,057 32, 587 25,282 50,623 Demand deposits. _ _ _ _ 1,377,676 1,392, 895 1,452,261 1,387,615 Time deposits.. __ 1,338, 656 1,388,458 1,426, 613 1,423,674 United States deposits _ _ 27,751 41,796 25,181 2®, 495 Total deposits 3, 053,003 3,096,088 3,168,849 3,128,389 Agreements to repurchase United States Government or other securities sold.- 703 540 343 4,17C Bills payable (including all obligations representing money borrowed, other than rediscounts) 52, 749 48,006 47,096 67,325 Notes and bills rediscounted (including acceptances of other banks and foreign bills of exchange or drafts sold with indorsement) 28,131 23,772 17,808 30,997 Letters of credit and travelers' checks sold for cash and outstanding _ 562 668 1,073 1,470 Acceptances executed for customers _ 7,698 9,136 8,120 8,574 Acceptances executed by other banks for account of reporting banks 43 417 237 444 National-bank notes outstanding 84, 655 85, 264 85,565 85,589 United States securities borrowed _ 13,143 12,173 8,784 12,664 Other securities borrowed 574 605 364 300 Other liabilities _ 6,501 6,623 7,873 8,696 Total... 3,778. 228 3,828,744 3,887,702 3,894,009 1 Exclusive of securities borrowed by national banks, prior to June 30,1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

302 ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having Banks in cities and towns having a population of— a population of— Date Total Total Less 5,000 15,000 100,000 Less 5,000 15,000 100,000 than to and than to to and 5,000 14,999 over 5,000 14,999 over 1923 Apr. 25—_ 1,412,448 154,935 122,515 194,705i 940,293 1,031,556 164, 604 116,736 160, 294589,922 May 23... 1,407,879 156,960l126,148 195,903 i 928, 8681,044,132 167,135 119,879 163,107 594, 011 June 27.... 1,414,338 157,934 128,157 195,539! 932,708 1,058,044 169,214 121,767 166,728 600,335 July 25 1,436,209 161,324 132, 529199,438; 942,918 1,080,108 172,198 123,717 169,990 614, 203 Aug. 29... 1,425,406 162,110 132, 780197,755| 932, 761 1, 099,214 174, 504124,710 172,892 627,108 Sept. 26— 1,398,289 161,092 129,265 194,457i 913,475 1,104,900 176, 044 125,524 173,463 629,869 Oct. 24 1,394,498 160,353 125, 997195, 802| 912, 346 1,118,124 177, 544 126,746 174,586 639,248 Nov. 28... 1,380,954 155,129 123,468 192,945 i 909,412 1,126,611 179, 291128,330 175, 066643,924 Dec. 26.-. 1,353,828 154,152 125,726 195,904! 878, 0461,129, 520 180, 552128,494 174,271 646, 203 1924 I Jan. 23.... 1,382,490 154,87' 127, 575195,768 904,270 1,142,992 182, 780130,228 177, 507652,477 Feb. 27—. 1,371,541 154,833 127,455 194, 614 894, 6391,166, 985 184,326 131,726 180,981 669, 952 Mar. 26... 1,373,024 153,499 123,815 193,249 902,461 1,169,002 185,182 132,620 183, 975667, 225 Apr. 23.... 1,372,134 150, 94^ 122,464 194,773 903,950 1,173,887 184,774 132,774 184, 337672, 002 May 28... 1,371,543 147,114 119,923 191,153 913,353 1, 200, 514 185,975 133,850 186,110 694,579 June 25 1,385, 052147,123 122,303 191, 895 923, 731 1, 226,845 186, 277 134,093 188, 256718,219 July 23__._ 1,438,359 149,066 124.996 197, 743 966, 554 1,239,961 186,845 135,016 189, 637 728,463 Aug. 27... 1,467, 908149,490 125,44' 200, 456 992, 515 1, 256,184 187, 099 135,259 191,090 742,736 Sept. 24... 1,469,391 150,046 122, 297196,325 1, 000, 7231, 255,257 187, 211 135,703 189, 784742, 559 Oct. 29 1,483,196 147,978 119,763 194,084 1,021, 3711, 263, 367 188,087 134,435 192, 216748, 629 Nov. 26... 1,486,119 144,787 117, 506194,483 1, 029,3431, 269,256 189,484 136,497 193,548 749,727 Dec. 24.... 1,468,404 140,185 117,721 196, 902 1, 013, 5961, 245, 613 188, 713136,125 190, 80r729, 973 1925 Jan. 28-... 1,486,655 144,270 121,198 196,496 1, 024, 6911, 272,991 192, 948138, 531 192, 705748, 807 Feb. 25-... 1,482,289 144,929 122, 824197,140 1,017,396 1,292,515 192,390 139, 301 195,035 765,789 Mar. 25... 1,456, 781144,472 119,977 195, 280 997, 052 1, 299,175 193, 336 140, 060195, 606770,173 Apr. 22..-. 1, 469, 584143, 421 117,915 196, 866 1, 011, 3821, 300, 882 193,134 139,996 196, 468 771, 284 May 27... 1,463,643 139, 921 116,592 196, 392 1,010, 7381,314, 938 192,342 139,407 197, 234785,955 June 24-... 1, 482, 254141,963 120,103 198, 933 1, 021, 2551, 344, 751 193, 017139, 715198, 054813,965 July 29.... 1, 517,902144,398 125, 385203,165 1, 044, 9541, 338, 749 194,419 139, 544201,100 803, 686 Aug. 26... 1,510,469 146,135 126, 399 201,440 1,036,495 1, 342,131 194,169 139,166 201,198 807, 598 Sept. 23... 1,499,245 146, 602 124, 322 199, 089 1, 029, 2321,341,591 194, 016139,351 201, 409 806, 815 Oct. 28_... 1,498,226 145, 204121,3161 197, 4201, 034, 2861,341,980 193,678 140,152 202, 386 805, 764 Nov. 25... 1,475,121 143,151 119,676 195, 6651, 016, 6291, 342, 997 193,182 140, 767203,261 805,787 Dec. 23—. 1,467,169 142,187 120, 054i 197, 8941, 007, 0341, 326, 753 194,'- 140, 653202, 556 788,677 1926 Jan. 27.... 1,495,667 142,488 125,338 209, 1,018, 574 j1,354, 620 199,198 142, 595204, 509808,318 Feb. 24.... 1,507,999 146,811 127,060; 200,403 1,033, 7251,364,418 200, 654143,725 207, 234812, 805 Mar. 24... 1,467,382 146,644 121,3411 194, 8121,004,585 1,379,613 201, 250!145,159 208, 769 824,435 Apr. 28—. 1,481, 605 139, 655118,4831 193, 5001, 029,9671,400, 234 198, 004 145,470 211, 544845, 216 May 26... 1,494, 535 140,339 119, 542 192,948 1, 041,7061,406, 757 200,275 146,398 211, 709 848,375 June 23.... 1, 520, 560 139,350 120,929: 200,020 1,060,261 1,411,006 201,040 145,778 212, 651 851, 537 July 28.... 1, 565, 592 145,310 130, 5561201, 693 1, 088, 0331,435,746 201, 616147, 620213,308 873,202 Aug. 25... 1, 562,309 145,685 131,016; 203,191 1,082,417 1,425, 061 200,958 148,050 214,861 861,192 Sept. 22... 1,548,821 146,07" 129,842 201,030 1,071,872 1,427,422 202,456 149,107 216,259 859, 600 Oct. 27.... 1, 533,394 146,920 125,403! 198,446 1,062, 6251,428,312 202,393 149,903 217,077 858,939 Nor»24... 1, 503, 663 144,504 123, 016' 195,160 1, 040,9831,429,311 203,837 150, 731217, 772856,971 Deo. 29.... l,48l,028j 140, 729125,038! 195,183 1,020,078 1, 423,986 204,224 151,180 216,936 851, 646 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 4 CLEVELAND 303 No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Loans and investments Government deposits se R r e v - es r B o o w r- - Date with ings (W d e a d y n ) es- Total Total L c O u o r a n i n ti s s e e s - o A th ll er v I e n s - t- Total de N m e a t nd Time m G er e o n n v - t - re b F e s a e r e n a d r k l v - e re b f F e r s a o e r e n a d m r k l v - e Weekly averages: 1922 1,474,364 1,007,354 373, 54^ 633,809 467',,. 0X01,336,627 829,621488,422 18,584 97,68! 29,840 1923 1,641, 707 1,109, 578 425, 39: 684>,1 18866 532,129 1,506,343 919,358 573,132 13,853 109,045 36,357 1924 1, 733,501 1,143,303 433,208 710>^,0 95590,_,1.98 1,625,954 943,049662,917 19,988 114,222 17, 516 1925 1,880,413 I, 240, 764 488,860 751,, 990044 639.,64'11,761,527 1,006,772735,717 19,038 123,074 36,512 1926 1, 983, 787II, 344,861 564,34: 780,519 638,926 1,854,263 1,031,6561802,841 19,7661 126,013 37,737 1926 Jan. 6_ 1, 893,024 1,268, 666 521,936746,730 624,358 1,,756,127 985, 945748,923 21,259 118,023 13 _ 1,882,094 1,258,406 514,181 774444,225623,6881,747,492 985,853748,054 13,585 120, 67543,453 20 _ 1, 894, 596 ., 262,820 518,325744,495631, T7611, 765,396 ,216 757,415 19, 765 115,849 38,229 27_ 1,889,060 1,267, 967 521,364 7~4'3";;,603621,0931,778, 353 999,453 759,135 19, 765 126,237 25,351 Feb. 3___. 1,896,911 1,271, 747 525,51' 746,230 625,164 1,787,427 1,007,27' 760,678 19,472 121,079 20, 752 1, 905,647 1,283,396 530,475752, 921622,2511, 788,888 1,007, 750 "7"6'1,373 19, 765122,463 32, 947 17. 1, 906, 6911,288,610 535, 939 752, 671 6"1 8,1,0811,803,854 1,021, 770762,319 19, 765127,095 26,586 24.. ,911,278 1,294,627 545,440749,187616,6511,799,114 1,014, 62& "7"6' 4"20 19, 765 116,947 24,631 Mar. 3 1, 923, 5751, 304,518 551,361753, 619,05' 1,804,863 1,017,279 767, 819 19, 765 123, 50731,317 1,923,032 1, 307,070 549,119757, 951615, 962 1, 795,265 1,007, 869 767,,631 19, 765 123, 68434,471 17.. 1,944,566 1,300,465 538,049762,41€ 644,1011,819,438 1,003,524 769,777 46.137 117,997 28,643 24. 1,947,933 1,314,38" 543,940 770,447633, 5461, 794, 263 983,956 ,372 35,935 117,848 48,376 1, 954, 7521,325, 555 554,111771,444629,19" 1,803, 941 1,005,285 762, 659 35,997 118,296 44,683 Apr. 7-. 1, 967, 7361, 333, 978 559, 913774,065633, 7581, 828,991 1,005,932 78:7,053 36,006 119,971 40,384 14. _ 1, 958, 924 1, 324, 214 551,056773,158 634, 710.1, 825,278 1,003,043 786,300 35,'" 125,857 43,486 21 _. 1,971,717 1,339,721 559,218780, 503631)9961,844, 642 1,010,169 80"4 ;,934 29,539 119,461 30,897 28_. 1, 978, 554 1,345,267 564,827 780', 440" 6 3"3i,! 28' 1,848, 690 1,012,956 806,.,212 29, 522 121,612 31,373 May 5- 1, 969, 8531,343,496 564, 36!79,128626, 3571,849,825 1,016, 719 804, 7Ti>9 28,33' 119, 56528,242 12.. 2,015,910 1,347,225 557,435789, 790 "6I6,8 ,685 1, 874, 201 1,040,262 806,992 26, 947 124,896 50, 691 19._ 2,001,362 1, 331, 201 549,484781,717>70,1611,870, 794 1,041,677 805, 569 23, 548 133,364 38, 230 26.. 1, 983,804 1,341, 656 557, 860783, 796i42,1481,859,192 1,026, 201809,877 23,114 125, 39827, 533 June 2__ 1, 999, 5881,355,861 566, 805789,058 643, 727 1,875,452 1, 035, 788 8131,,300 26, 364 122, 75227, 904 9_. 1,998,108 1,353,153 557,483795, 672644,9551, 867, 54f; 1,033, 35C811, 582 22, 614 126, 62925,034 1, 987, 274 1,351,270 557, 695793, 575636,0041,869,467 1,037,359 8"0"91,,494 22, 614 128,451 25, 903 23-. 2,010,427 1, 360,446 569,042791,404 6"4' 9~,', 9811,878, 899 1, 042, 749 8131,,536 22, 614 129, 58229,571 30.- 2,001,796 1, 358, 985 565,102^79933,, 883 64:2,811 1,887,395 1, 040, 622 826i,, 992 19, 781 122, 83129,090 July 7 2, 006,435 1, 364, 326 574, 26'790, 05S!9 542:,109 1,891,428 1,052, 658 8191,,983 18,787 121,167 23,153 1, 998, 6881, 358, 898 569,161789, 73 139, 79G1, 899,113 1, 054, 639 82'',191 17,283 133,571 23,031 2l"_"I2, 007, 313 1, 363, 870 573, " 1, 570643,4431, 902, 784 1, 055, 950 829',, 5551 17,283 129,965 19, 799 28 2, 009, 856 1, 363, 796 570, 531787,265646,060 1,898, 387 1,045,463 835,i,641 17,283 126, 29515,443 2, 010, 709 1, 372,086 577,691 '94, 395 638, 623 1, 905,775 1,056,17'4 83152,318 17,283 140,984 20, 335 11_III2,013,781 1. 372,403 577,382795, 021641, 378 1,908.224 1,071,113 821, 989 15,122 137,463 27, 288 2, 014, 301 I) 372, 544 578.391794,153641,7571, 900,106 1,064, •" 1,246 13, 597 133, 75625, 523 25~.IV.2, 007,47C 1, 365, 964 572,417'93, 547641,5061,898,113 1,062,420 82515;, 353 10,340 136,276 17, 538 Sept. 1 2, 020, 287 1,378,836 582,48'796, 34G641,4511,915, 27£ 1,079,612 825, 323 10, 340 128,383 18,671 8 2,025, 900 1, 383, 850 586, 205797, 645642, 050 i'., 906,029 1,069, i, 53'10,340 125,778 23,497 15 2,040,142 '., 386, 558 592,412^94,146653, 5841,928,854 1, 084,170 821,087 23, 597 135,536; 29,996 22 12,040,632 1, 386,032 598,7' '87,256 154, 600 "1.,, 907, 5121,062,417 820,857 24,238 127,493J 34,858 29 2,037, 777 1,383,691 595, 506788,185854t,, 086 1, 905, 731 1,054,092 827',,386 24, 253 125,9411 33,283 Oct. 6 2,047.465 1, 393, 533 599,242794,291 653,932 1., 910, 81811, 060,242 826i,, 35424,222 129,832! 41,429 13 12,040,885 1,386,610 593,249793,3611654, 2751,917,712 1,071,511 825,088 21,113 130,384 57,075 20__ 2,029,502 1, 378, 784 581,194797,590 650,7"1'"8 1',878,864| 1,045,104 821,373 12,387 132,284 58,194 27_- 2,029, 828 1,379,420 590, 792788, 628 650,408 1., 876,479;1,044,820 821,024 10, 635128, 576 56, 593 Nov. 3__ 2,023,852 1, 367, 950 578, 962 788:,, 988 655,902 1.,, 874, 866!1,041,128 823,;,373 10, 365126,342 50,343 10.. 2,029,481 1, 381, 526 585, 213 7961, ,3 31133J6 64477,, 955 1" ";, 783'1,041,113 818i,,7 :714 8,956 122,535 61,349 17. _ 2,009, 561 1, 368, 918 577,409791, 509j640, 643 ,862,266 1,036, 531819,420 6,315 132,995 58,043 24_ _ 2,001,812 1, 366,185 578. 659787, 526)635, 6271,851,866 1,027, 686 818.,,481 5,699 124,593 54,180 Dec. 1__ 1, 996, 303 1,360,408 574,316 '86,092 635,8951,843,994 1,029,699 808,. >96 5,699 125,135 55,799 8_. 1,997,456 1, 362,219 573,421 '88, 798 635,2c1~37 1,831,335 1,019,082 806,i, 554 5,699 124,5101 63,628 15.. 2,002,850 1,364,724 573, 622791,1021638,126 1,852, 792 1,028,406 811,247 13,139 130,994 65,831 22__ 1, 993,333 1, 360, 724 .72,309 788,415 632,609 I.!, 829, 967 1,010,078 806;1,800 13,089 126,476! 75,930 29__ 2, 003,092J 1,374,232 5>779Q, 885^77 779Q41, ^fdfiOQ 860 1,829, 770 1,002,938 81.33,, 743 13,089 125,369 74,166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS CO [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES > Loans and investments Net demand, time, and Government deposits Month Loans R F e w e s d e i e t r h r v a e l s in B F g o e s d r r e f o r r w o a m l - tr1 Total I m nv e e n s t t s - Total de N m e a t nd Time Go m v e e n r t n- re b s a e n r k ve re b s a e n r k ve W Total On All other 1922 January—. 1,402,429 989,816 373,196 616, 620 412, 613 1,213,857 764,447 426, 251 23,159 84,968 70,536 February. 1,429,376 989,374 367,044 622,330 440, 002 1,263,290 778, 569 447,837 36,884 93, 246 49,222 March 1,435,849 998,145 370,023 628,122 437, 704 1,286, 742 791, 082 472,547 23,113 92, 825 35, 594 April 1,439, 971 1,000,348 365, 692 634, 656 439, 623 1, 287,858 800, 054 470,322 17,482 94,720 35,538 W feJ May 1,436,847 990, 703 362, 639 628,064 446,144 1,295,769 806, 789 473,863 15,117 97,216 26,762 J J u u n l e y.... 1 1 , ,4 4 6 5 2 2 , , 0 5 4 7 5 9 9 9 8 9 6 5 , , 8 3 9 2 0 1 3 36 6 5 2 , , 3 2 1 0 7 3 6 6 2 3 4 0 , , 1 5 1 7 8 3 4 46 6 7 5 , , 1 2 5 5 5 8 1 1 , , 3 3 3 5 2 3 , , 3 5 8 6 9 3 8 8 2 5 7 0 , , 1 4 9 1 1 8 4 4 8 9 3 1 , , 7 9 7 8 1 9 2 1 1 0 , , 6 9 0 8 1 2 101,117 2 If 1 , ,3 3 1 7 6 1 j August- 1,486,564 999,195 366, 664 632,531 487, 369 1,380,693 863,169 502, 322 15,202 100, 989 11, 733 September. 1, 504, 373 1,014,314 370,421 643,893 490, 059 1,394,429 876,872 503,449 14,108 103, 233 14,656 N Oc o t v o e b m er ber. 1 1, ? 5 5 3 3 1 2 , , 9 3 3 5 8 3 1 1 , , 0 0 3 3 3 4 , , 0 9 9 1 7 1 3 3 8 8 5 6 , , 9 7 0 4 4 8 6 64 4 6 9 , , 3 0 4 0 9 7 4 49 9 8 7 , , 4 8 4 4 2 1 1 1 , , 3 4 8 0 9 3 , , 9 32 3 8 7 8 86 7 0 8 , , 5 2 5 6 8 3 5 51 1 6 1 , , 9 0 6 0 4 4 1 1 3 2 , , 7 7 6 1 6 0 1 10 0 1 2 , , 6 9 7 6 3 0 3 1 0 9 , , 3 3 4 1 0 3 December— 1, 579, 585 1, 058,177 408, 703 649,474 521,408 1,436,005 857,340 557, 738 20,927 99, 771 30,432 1923 January--- 1, 589, 758 1, 048, 898 400,931 647,967 540,860 1,483,614 919, 279 549,391 14,944 113, 634 16,577 February. 1, 591,833 1, 058, 800 401,843 656,957 533,033 1,477,820 923, 554 548,532 5,734 108, 948 16, 785 March 1, 618, 994 1,081,046 410,672 670,374 537,948 1,492,946] 926,020 552, 236 14, 690 109, 012 24,070 < April 1, 636, 651 1,099,705 413,836 685,869 536,946 1, 501,180 928, 625 549, 501 23,054 111,304 29,827 May - 1,649,804 1,121, 781 432,547 689,234 528,023 1,512,495 933, 658 558, 834 20,003 111,912 38,845 June..-.. 1,650,827 1, 124,805 435,790 689,015 526,022 1,506,804 931,014 562, 384 13,406 110, 496 40,915 July I 1,662,054 1,134,498 435,626 698,872 527, 556 1,514,885 932, 375 571, 620 10, 890 112,194 57,108 August -! 1,662,225 1,128,913 429,354 699, 559 533,312 1,518,974 926,163 585, 052 7,759 108,646 43,194 September 1 1,660,034 1, 125, 952 431,880 694,072 534,082 !1,522,911 j 914,971 593, 545 14, 395 105,315 37,605 October.- 1,666,729 1,133,099 438, 590 694, 509 533,630 1,525,807 ! 910, 368 598, 772 16,667 103,240 41, 551 November - 1,657,827 1,131,092 434, 702 696,390 526,735 I 1,505,994 11 894, 372 603, 380 8,242 106,183 44,630 December - - , I 1,653,327 1,127, 762 438, 974 688, 788 525,565! 1,508,818 li 888, 890 604,464 15,464 107, 345 46,497 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

19:24 January 1,641,661 | 1,115, 434, 817 680, 546 526, 298 1, 521,153 889,427 611, 734 19,992 107,017 I 24, 583 February 1,646,639 ! 1,115, 427, 527 687, 916 531,196 1, 529, 018 891,119 620, 343 17, 556 110,897 24,808 March - - 1,664,690 I 1,131, 429, 240 702,102 533, 348 1, 542, 705 892, 632 625, 347 24, 726 106,939 20, 635 April 1,678,528 1,151, 431,861 720,022 526, 645 1, 546, 247 889,928 626, 728 29, 591 106,078 29, 977 May 1,689,044 || 1,162, 438,846 723, 235 526, 963 1, 568, 857 900,927 648,080 19,850 111,136 24,919 June 1, 696, 323 1,149, 432, 718 716,418 547,187 1, 590, 306 909,104 667, 042 14,160 113, 789 19,198 July 1,733,476 1, ' 431, 215 594,163 1, 639, 006 942, 565 682, 202 14, 239 111,355 6,062 August >. 1, 769, 232 1,143, 435, 740 707, 599 625, 893 1, 682, 362 973, 757 695,460 13,145 116, 780 5,120 September 1, 801, 092 1,148, 362 437,865 710,497 652, 730 ,710,160 994, 744 694, 752 20,664 120,948 10,298 October,.. 1, 818,431 1,153, 597 437, 529 716, 068 664, 834 , 726, 701 1,004,106 695,093 27, 502 118, 697 7,483 November 1,832, 689 1,159,108 431, 606 727, 502 673, 581 ,736,500 1,012, 328 703, 725 20,447 123, 677 12,249 December 1, 823,248 1,151, 806 429, 750 722,056 671,442 , 714, 071 1, 010, 599 687, 361 16,111 124,278 23, 788 1925 I—I January 1, 822, 510 1,156, 294 433, 998 722, 296 666, 216 , 722, 581 1. 010,129 697, 485 14, 967 121, 779 16,635 CD February 1, 823, 516 1,178, 043 443, 386 734. 657 645,473 I .737,198 1, 014, 050 711,008 12,140 125,469 23, 312 March 1, 846, 007 1,199, 762 456,130 743, 632 646,245 1, 740. 720 995, 553 718,063 27,104 119, 867 29,509 April 1, 854, 634 1, 211,167 459, 865 751, 302 643, 467 1, 747, 362 990, 871 720, 863 35, 628 121,045 24, 696 May 1, 848, 927 1, 218, 334 478, 458 739. 876 630, 593 1, 745. 661 992, 566 730. 378 22, 717 120, 697 22, 111 June 1, 868, 285 1, 236,180 491, 492 744; 688 632,105 1, 757, 851 1,005,774 733, 054 19, 023 125, 231 28,374 July 1, 886, 946 1. 249, 081 502, 308 746, 773 637, 865 1, 781, 483 1, 021, 714 744, 409 15, 360 123, 766 29, 726 August 1, 911, 639 1, 269, 815 510, 448 759, 367 641, 824 1, 782, 066 1, 014, 873 756, 624 10, 569 125, 672 40,136 1 September 1, 922,100 1, 284, 043 515, 288 768, 755 638, 057 1, 790, 354 1, 012, 679 756, 850 20, 825 123, 812 43,197 October 1, 934, 438 1, 298, 703 524,616 774,087 635, 735 1, 791, 883 1, 019, 496 752,597 19, 790 126,130 58, 929 November 1, 919, 626 1, 292, 043 519, 318 772, 725 627, 583 1, 771, 404 1,004, 755 757,265 9,384 121, 956 56, 824 December 1, 912, 659 1, 280, 319 520, 411 759, 908 632, 340 1, 761, 201 999, 410 744,160 17, 631 121,909 61, 442 f 1926 January 1, 889, 694 1, 264, 465 519, 702 744. 763 625, 229 1, 761. 842 989, 867 753, 382 18, 593 120,196 39,158 February 1,905,132 1. 284, 595 534, 343 750, 252 620. 537 1, 794, 821 1, 012, 856 762, 273 19, 692 121, 896 26, 229 M arch 1, 938, 771 1, 310, 399 547, 316 763, 083 628. 372 1, 803, 555 1, 003, 583 768, 452 31, 520 120, 266 37,498 April 1, 969, 234 1, 335, 796 558, 754 777. 042 633, 438 1, 836, 900 1, 008.025 796,125 32, 750 121, 725 36, 535 May 1, 992, 733 1, 340, 895 557, 287 783. 608 651, 838 1, 863, 503 1, 031, 215 806, 801 25, 487 125, 806 36,174 June 1, 999, 439 1, 355, 943 563, 225 792, 718 643, 496 1, 875, 752 1, 037, 973 814,981 22, 798 126, 049 27, 500 July 2, 005, 573 1, 362, 722 573, 315 789,407 642, 851 \ 897, 928 1, 052,178 828,091 17, 659 127, 750 20, 357 August 2, 011, 565 1, 370, 749 576, 470 794, 279 640, 816 I 903, 055 1, 063,492 825,477 14,086 137,120 22, 671 September 2,032, 947 1, 383, 793 591, 077 792, 716 649,154 , 912, 681 1,069, 889 824, 238 18, 554 128,626 28,061 October 2, 036, 919 1, 384, 586 591,119 793, 467 652. 333 ., 895, 968 1,055,419 823, 460 17,089 130, 269 53, 323 November 2,016,177 1, 371,145 580, 061 791, 084 645, 032 ., 864, 446 1, 036, 615 819, 997 7,834 126, 616 55, 979 December 1, 998, 606 1, 364, 461 574, 705 789, 756 634,145 ., 837, 572 1,018, 041 809, 388 10,143 126,497 67,071 CO o 01 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN CLEVELAND—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS CO [In thousands of dollars] Loans and investments Net demand, t d im ep e o , s a i n ts d Government Borrow- Reserves with ings Due Date (Wednesday) Loans Federal from Due to from Total On se- All I m nv e e n s t t s - Total N m e a t n d d e- Time I i G m ov e e n r t n- re b s a e n r k ve F re b e s d a e e n r k r v a e l bank banks Total curities other 1926 Jan. 6 672,819 539,626 180, 046 358,680 133,193 662,586 253,695 405,441 3,450 37,240 20,531 48,665 30,252 13 668,129 535,430 178,120 357,310 132,699 665, 722 260,047 403,487 2,188 37,214 9,340 45,750 24,594 20 675.858 541.477 182,851 358,026 134,381 667,494 252,610 411,676 3,208 31,895 10,596 45,492 31,304 27 673,408 539,116 180,575 358,541 134,292 676,972 262,582 411,182 3,208 42,483 5,621 46, 923 23,192 Feb. 3 679,457 543,314 183,928 359,386 136,143 680,408 262, 984 414,216 3, 208 37, 664 6,869 47,040 27,099 10 678,351 544,506 185,294 359,212 133,845 675,702 259, 764 412,730 3, 208 43,333 14,020 44,677 24,385 17 678, 975 544,398 184,605 359,793 134,577 673,512 257,790 412,514 3,208 36,847 13,035 48,244 27,962 24 677,186 542,711 185, 233 357,478 134,475 674,539 259,220 412,111 3,208 35, 843 8,511 47, 764 23,825 Mar. 3 683,645 547,180 187, 999 359,181 136,465 680,298 263,211 413,879 3,208 36,059 10,068 47, 724 25,645 10.. 680,233 543,465 183,088 360, 377 136, 768 671,374 254, 966 413,200 3,208 38,588 15,869 45,185 28,906 17 684,832 538,084 176, 619 361,465 146, 748 670, 648 256,834 413, 651 163 36,840 7,464 46,349 27,453 24 679,207 542,155 178,648 363,507 137,052 671,836 245, 625 417,617 8,594 35, 769 9,869 44,808 30,431 31 684, 752 546,685 182,581 364,104 138,067 683, 675 256, 643 418,438 8,594 33,211 3,968 45,590 24,354 Apr. 7 707,000 558,614 192,370 366,244 148,386 706,000 266,151 431,255 8,594 34, 716 3,801 48,376 28,431 14 698,622 551, 703 187,234 364,469 146, 919 698,191 259,501 430,096 8,594 37, 550 3,334 49, 544 29,361 21 714,720 564,792 194,036 370, 756 149, 928 716, 879 264,228 445, 584 7,067 40,830 3,056 46,109 26,256 28 720,469 571, 753 201,657 370,096 148,716 718, 858 265, 366 446,425 7,067 35,462 1,255 .45,850 30,411 May 5 724, 781 576,196 203, 226 372, 970 148,585 723, 610 270,287 446, 539 6,784 38,618 2,977 47,545 27,585 12 - 724,774 575, 783 201,186 374, 597 148, 991 725,487 271, 946 447, 097 6,444 42, 952 5,240 44, 684 24,656 19 721,198 572,876 201,143 371, 733 148,322 721, 980 269,763 446, 579 5,638 41,796 3,216 44,814 25,128 26 722.859 573, 548 200,435 373,113 149,311 721,136 266,303 449,422 5,411 40, 670 2,463 43,154 31,099 June 2. 733,675 583, 744 205,273 378,471 149, 931 735, 974 274,577 452,236 9,161 38,867 2,129 46, 774 29,394 9 734,128 582,389 201,336 381,053 151, 739 730, 314 275,143 449, 760 5,411 41,659 581 44,171 27,029 16 729,019 581, 643 200, 760 380, 883 147,376 729, 675 274, 526 449, 738 5,411 42, 386 623 48, 274 33,255 23.. 743,444 595,320 216,076 379,244 148,124 734,098 275,049 453, 638 5,411 40,441 1,720 46,230 25,097 30 . — -„,-, 743, 958 594,639 211,542 383, 097 149,319 746,128 277, 741 463,641 4,746 37,892 200 46,272 35, 313 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7. 748, 746 597, 586 213, 038 1 384, 548 151,160 747, 648 282,921 460,219 4, 508 41, 574 6,365 49,135 29,700 14. 743,617 594,116 211,111 I 383,005 149, 501 747,199 283,895 459,152 4,152 40,190 3,789 50, 622 26, 746 21. 744, 280 594,425 210,345 384,080 149, 855 750, 206 286,837 !459,217 4,152 44,368 2,575 49,120 26, 270 28. 745,425 594, 644 210,903 | 383,741 150, 781 748,476 281,380 !462, 944 4,152 39, 281 49,237 25, 737 Aug. 4. 742,268 593,413 206, 279 387,134 148,855 745, 760 282,131 i459,477 4,152 49, 541 5,500 49, 626 32,389 11. 746, 318 595, 679 207, 681 387. 998 150, 639 750, 335 293,510 j453,193 3,632 45, 727 8,292 49, 773 24, 549 18. 742, 201 592, 988 204,822 388,166 149,213 746, 202 289,609 • 453, 325 3,268 44,173 3,697 50,408 23,421 25. 744, 737 593, 993 203, 927 390, 066 150, 744 750, 718 293,130 455,106 2,482 44, 992 3,595 45, 989 22, 067 Sept. 1. 751,443 598,088 207, 929 390,159 153, 355 754, 528 297,110 '454, 936 2,482 40,963 4,075 49, 630 23, 798 8. 753,328 600,116 207, 966 392,150 153,212 750, 740 292, 776 455,482 2,482 40,205 5,210 50, 782 23,811 15. 756,101 600,353 212, 980 387, 373 155, 748 759, 925 299,000 !454, 921 6,004 43, 548 7,252 55, 318 27,117 22. 748,375 594,152 211,495 382, 657 154, 223 743, 049 284,433 !452, 654 5,962 43,064 10,037 46,115 25,124 29. 754, 328 597,820 215,005 382,815 156, 508 750, 366 287,380 | 457, 022 5,964 39, 335 4,433 47,813 25, 598 Oct. 6. 755,388 599,172 213,087 386,085 156,216 I744,060 281,166 I456,930 5,964 43, 924 13, 855 51,749 27,818 a 13. 749,658 592.733 209,662 383,071 156, 925 749, 246 289,465 I454, 563 5,218 44,658 19, 904 48,862 28, 704 20. 741,255 585,418 198,399 387,019 155,837 724. 286 268,735 i452,419 3,132 41,110 19,053 45,053 27,852 27. 742, 637 587,134 209,762 377, 372 155,503 732,159 277,575 | 451, 922 2,662 40, 502 12, 680 47,190 26,209 i—i Nov. 3. 740, 309 584,874 196,100 388, 774 155,435 734,436 277, 990 453, 784 2,662 43, 632 12,865 47, 378 26, 567 Q 10. 741, 379 586,828 198, 247 388, 581 154,551 733. 277 278, 738 452,277 2,262 39,195 13, 831 45, 758 29,702 H 17. 735, 393 581,813 194,243 387, 570 153, 580 731,359 277, 662 4 52,115 1,582 44,339 12, 651 48,092 25,836 24. 733,202 579,846 195, 712 384,134 153, 356 725,101 273, 313 450, 364 1,424 41,497 13, 700 45, 359 26,121 Dec. 1. 729,436 575,691 195, 006 380, 685 153. 745 719, 284 275,224 442, 636 1,424 39, 927 10, 897 45,958 24,357 8. 731,421 577,8£8 195, 785 382,113 153, 523 711, 655 268,840 441,391 1,424 41, 223 18, 984 44, 655 23, 760 i 15. 735,860 579,437 195,857 383, 580 156,423 722,538 271, 528 446,483 4,527 41, 358 17, 643 45, 585 24,473 22. 729,244 575.734 193,051 382,683 153, 510 706,142 256,232 445, 383 4,527 40,854 21,242 43, 785 25,062 29 730,612 579, 746 195, 583 384,163 150, 866 714,391 256, 374 453,490 4,527 39, 035 15,152 45, 732 24.046 I 00 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

308 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 13 centers i Akron, Ohio Month 1926 1925 1924 1926 1925 1924 January., __ 2, 708, 317 2, 511,678 2,227,535 99,955 85,168 77,388 February... 2,157,107 2,048,430 2,006,249 78,121 66, 009 63,027 March 2,472,654 2,284,925 2.173, 881 99, 574 78,333 70,378 April _._ 2,540, 997 2,407,075 2, 275, 246 101,165 91,415 78,539 May 2, 340,429 2,240,047 2,122,402 91,179 84,230 72,646 June 2,553, 924 2,459,218 2,105,227 94,907 89, 777 72,020 July 2, 671, 960 2, 564,444 2,139,964 97,176 98,955 76, 093 August 2,358, 705 2,246, 826 1, 979, 554 88,224 89,410 65,725 September. 2,406, 948 2,308, 524 1,996,688 98,774 106, 816 72,962 October.... 2, 637, 978 2, 661, 005 2,300,487 97,326 104,631 76, 839 November. 2,386, 738 2,341,146 1, 980.486 86,107 87,889 67,994 December- 2, 786,306 2, 652, 829 2,466,903 97,423 98,292 84,884 Total 30,022,063 28, 726,147 25, 774,602 1,129.931 1, 080, 925 878, 495 Butler, Pa.* Canton, Ohio • Cincinnati, Ohio * Month 1926 1925 1924 | 1926 i 1925 1924 1926 1925 1924 January... 11,897 10,887 10, 428 55,004 i 53, 462 47, 294 433,504 383, 860 341,469 February.. 9,568 9,292 9,097 39,415 !38,324 40, 787 343,437 301, 084 288,178 March 9,812 11, 466 10, 500 49,994 |48, 512 49, 063 379,290 356, 290 317,- 364 April. 13, 275 11,409 11,789 55,974 |48,438 50, 653 393, 528 368, 489 328, 538 May 10, 384 11,347 11,070 44,667 !51,100 41, 763 345, 055 327, 849 303,195 June 11, 070 11,026 10, 278 48,165 I51,139 43, 003 354,175 360, 216 298, 662 July 12,185 11,376 10, 647 50,458 49,442 43,070 379,600 '•355, 092 316, 567 August 10,335 10,703 10,213 44,234 !43,769 39,775 327,579 |315,381 282, 723 September. 11, 640 10,266 11,910 46,192 !45, 862 43,044 323,493 I338,437 288, 611 October 12, 918 13,336 13,030 44,168 j48,141 44,460 381,257 |378,513 332,316 November. 10,456 10, 568 10, 945 43,035 |42,445 37,667 371,513 |347,303 297,707 December. 13,309 11, 742 11,477 52,530 j51,891 47,320 421,774 !397,209 397,257 Total 136,849 133,418 131,384 573,836 ! 572,525527,899 |4,454,205 (4,229,723 3,792,587 Cleveland, Ohio Columbus, Ohio Connellsville, Pa.* Month 1926 1925 1926 1925 1924 1926 1925 1924 January 824, 897 720, 949 642,928 170,415 146, 595 133, 552 5,053 4,856 February... 592,300 565,054 583, 611 128, 975 120,629 120, 940 4,486 4,494 March. 716,941 628,415 626,227 147, 713 134, 579 136,497 5,225 4,847 April 805,161 737,333 719,936 176, 488 146,236 138, 867 4, 977 4,764 May 685, 849 676, 272 609, 831 157, 260 136, 891 133,501 5,510 4,990 June __ 751,019 739,121 618,520 166,528 152,334 132,722 5,750 4,883 July... 823,270 759,252 624,357 173,435 157, 767 132,134 6,041 4,753 August 708,593 660,989 571,311 156,163 144,410 123, 729 5,588 4,608 September 721,317 672,717 597,176 152,624 153,390 132,737 6,349 4,471 October 833,349 761,578 660,497 164,224 163,375 144,868 6,782 5,080 November.. 737,279 670,474 582,193 153,252 141, 721 134,226 6,362 4,291 December... 887, 993 767; 004 751,111 179,273 167,980 150,472 7.008 5,058 Total......9,087, 9688,359,158 7,587,698 1, 926,3501, 765,9071, 614,245 i9,131 56,601 57,095 Dayton, Ohio Erie, Pa. Greensburg, Pa. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January j 93,897 81,289 73,969 36,367 33,262 32, 400 21,612 22, 793 25,519 February. i 73,264 62,802 63, 443 29, 575 29, 243 28,286 21, 202 18, 602 21,979 March j 90,843 74,525 71,123 34,325 32, 655 31,128 23,070 19, 539 22,198 April .! 88,287 76,661 70, 587 36,140 33, 824 31,267 19, 574 19,608 20, 561 May ! 79,997 72,945 6S, 333 35, 215 34,431 32, 064 19, 073 19, 590 21,611 June | 85,843 82,187 70, 120 36,011 36,364 31,835 19, 702 19,950 21, 545 July I 104,612 94,096 70,172 36,926 36,393 30,960 21,350 20,415 23, 515 August j 82,960 77, 403 60, 573 34,944 34,312 30, 531 19, 547 19, 774 21, 719 September j 88,042 78, 093 65, 757 39,498 34,805 31,418 20, 815 21,137 21,165 October ] 91,125 80, 638 70,152 38,005 37,139 34,630 20, 791 23,806 23,165 November i 82, 005 70, 803 60, 978 36,391 33,183 29,345 18,854 22,197 19,430 December 1 97, 600 84,110 70, 506 40,115 36,238 33,771 23,716 22,891 23,666 Total 1,058,475 935, 552 815, 713 433, 512 411, 8 377, 635 249,306 250,302 266,073 1 Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

309 DISTRICT NO. 4 CLEVELAND No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Homestead, Pa.* Lexington, Ky. Lima, Ohio • Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 4,262 4,083 4,158 29,806 35,895 31,171 16,508 19,029 18,025 February.. 3,676 3,778 3,756 28,676 30,456 29,937 13,379 16,795 18,774 March 4,267 4,557 3,905 26,716 24,532 27, 795 14,907 19,790 18, 257 April 4,605 4,780 4,164 20,989 18, 744 20,115 18,261 19,990 18,695 May 5,026 4,948 4,892 22,313 17,949 20,824 15,855 18,575 19,143 June 5,139 5,209 4,515 20,861 21,191 18,271 17,088 17,303 18,598 July 5,369 5,059 4,476 25,453 25,622 18,966 18,409 19, 074 18,132 August 4,778 4,637 4,246 18,191 18,266 16,957 16,390 18, 588 17,385 September- 4,999 4,628 4,172 18,877 18,095 16, 205 16,415 16, 623 18,402 October 5,009 5,393 4,824 20,383 19,800 18,886 16,327 16,541 19,091 November. 4,609 4,128 4,093 19, 724 19,298 17,615 15,269 13,525 16,670 December. 5,101 4,733 4,766 29,035 27,591 25,232 17,199 15,266 22, 070 Total 56,840 55,933 51,967 281, 024 277,439 261,974 196,007 211,099 223,242 Lorain, Ohio * Oil City, Pa. Pittsburgh, Pa. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 5,942 7,326 5,995 15,019 14,569 15,819 1,020,677 1,007, 568 874,126 February 4,552 5,550 5,092 11,023 13,101 14,044 877,644 855,614 787, 711 March 5,373 6,907 6,046 13,001 14,587 13,253 970,486 955,248 864,439 April 7,155 7,411 6,365 13,252 13,816 14,603 920,255 924, 729 856, 714 May 5,893 6,628 6,460 13,373 14,733 12,769 892,531 846, 704 848,972 June 6,946 7,161 6,540 14,208 15,332 11,753 1,003,994 940, 561 821,604 July 6,816 7,041 6,509 16,836 16,877 13,329 980,115 990,396 852,303 August 6,265 5,927 6,968 16,765 17,500 11,433 868,367 855, 089 800,991 September 6,653 7,518 6,864 14, 535 14,701 12,991 893,403 874, 746 754,368 October,. i 6,058 6,625 7,259 14,346 15, 687 12,853 993,900 1,068,360 901,034 November 5,776 5,692 6,485 13,151 14,127 11,344 907,882 955,845 784,292 December 6,683 6,464 7,303 16,134 13,892 13,512 1, 012,909 1, 040,654 993,052 Total....! 74,112 80,250 77,886 171,643 178,922 157, 703 11,342,163 11,315,514 10,139,606 Springfield, Ohio Toledo, Ohio Warren, Ohio ' Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 27,473 23,842 21, 413 233, 366 209,307 181,389 14, 522 15,164 14,111 February... 19,700 18,190 17, 535 196,390 169, 537 171, 815 11,238 10,469 14, 850 March 24,787 21,080 21,940 211, 935 194,399 181, 532 14,309 13,008 14, 940 April 25,177 21,045 20,192 215,123 205, 645 188, 933 13,486 14,246 14, 821 May 23, 557 22,114 19,454 208,779 208,913 177,382 11, 655 13, 769 12, 702 June 23, 639 22, 224 18,018 224, 791 189,022 12,749 13,394 11, 232 July— 25,761 23, 785 20, 749 241, 909 223, 442 169, 229 15,120 13,251 12, 997 August 23,694 21,017 18, 700 228, 773 200, 918 164,348 12,134 13,074 12, 226 September- 24,154 21i 625 17,980 217,103 197, 668 171,079 14, 985 15, 456 14,056 October 23,267 23,480 19,910 217,719 223,774 228,902 15, 650 15,151 13, 675 November.. 22, 282 21, 265 17,189 199, 696 189, 858 162,760 12, 235 11, 788 11,346 December-. 25,342 25,368 21, 284 241, 793 241,483 181,975 13,731 13, 629 13, 761 Total. 288, 833 265,035 234,364 2, 637, 377 2,493, 929 2,168, 366 161,814 162, 399 160, 717 Wheeling, W. Va. Youngstown, Ohio Zanesville, Ohio* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 61,052 49, 940 50,640 73,781 80, 501 67, 201 13, 560 12, 717 12, 774 February 42, 643 41,216 47,110 57, 594 57,977 56,811 10, 670 9,959 11, 763 March „__ 48,472 44,464 46, 718 64, 791 62, 569 60, 653 13,094 12,497 14,011 April 46,317 46, 278 46,335 73,069 71, 741 68, 597 13, 297 13,189 15,063 May - 43,648 42,962 43,961 67, 655 62,313 61,054 12, 903 12,140 13,274 June _ 45,148 45, 212 43, 286 67,273 65,980 56,511 13,448 12, 930 13,023 July 46,071 44, 987 45, 246 79,046 72,457 62,911 12,903 12, 887 13, 252 August 40,911 41, 708 41,447 71, 573 66,030 52,090 11, 641 11,939 12, 513 September 44,309 40,762 42,159 73,497 73,969 60, 691 12,188 12,164 12, 873 October 47,636 50,125 45,484 75,907 88, 612 63,267 13, 558 13,340 13,711 November _. _ 45,545 47,108 41,164 64, 570 67,378 51,956 12, 248 10,869 11, 802 December 55,879 54, 850 48,993 79,094 72,476 68,445 14,071 13,381 12,917 Total 567,631 549, 612 542, 543 847, 850 842,003 730,187 153, 581 148,012 156,976 38494—27 21 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

310 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES 1 IN CLEVELAND, CINCINNATI, AND PITTSBURGH [Rates prevailing during week ending with 15th of month] CLEVELAND Loans secured by Month co P m c ri i m a m l e e r- I b n a t n er k - c p h ri a m ng e e s c t o o l c l k a te e r x a - l b s y L e c o w u a r a n e r s d e- C lo a a t n tl s e loans 3 loans receipts Demand Time 1926 January 5-6 5 5^-6 53^-6 5-6 February 5-6 5 53^-6 53^-6 5-6 March 53^-6 5 6 6 5-6 April 5 534-6 53^-6 5-6 May 53^6 5 June 5H-6 5 5^6 5^6 53^-6 July 6 5 6 6 3 5-6 August 36 35 36 36 3 5-6 September 35 36 36 5-6 October 5 36 36 3 5-6 November 3 5-6 5 6 6 3 5-6 December 3 5-6 6 6 5-6 CINCINNATI 1926 January 6 5^-6 6 6 6 February 6 &A 6 6 6-7 A M p a r r i c l h _• 6 6 5 & V lA 2 6 6 6 6 6 6 - - 7 7 May 6 VA 6 6 6 June 3 53^-6 6 6 6-7 July. 3 51^-6 5-5H 353^-6 6-7 August 3 53^—6 5-6 5H 3 53^—6 6-7 September 6 6 6-7 October.. 3 53>^-6 3 5-6 6 6 3 6-7 November 53^-6 53^-6 5^-6 5K-6 3 6-7 December 53^-6 53^-6 6 6-7 PITTSBURGH 1926 January 6 6 6 6 6 February 6 6 6 6 6 March April 6 6 6 6 6 May 6 6 6 6 6 June 5-6 5-6 5-6 5-6 6 July 5-6 5-6 5-6 5-6 6 August 5-6 5-6 5-6 5-6 6 September 5-6 5-6 5-6 5-6 6 October 5-6 5-6 5-6 5-6 6 November 5-6 5-6 5-6 5-6 6 December 5-6 5-6 5-6 5-6 6 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January-May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. »Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 5—RICHMOND No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 Gold with Federal reserve agent. 70,394 68,184 79,184 70,146 Gold redemption fund with United States Treasury 1,613 2,495 2,107 2,818 Gold held exclusively against Federal reserve notes- 72,007 70,679 81,291 72, 964 Gold settlement fund with Federal Reserve Board 27,242 23,952 18, 724 40, 963 Gold and gold certificates held by bank 11, 684 6,944 19,662 5,236 Total gold reserves 110,933 101, 575 119,677 119,163 Reserves other than gold 7,022 6,685 5,809 4,284 Total reserves 117,955 108,260 125, 486 123,447 Nonreserve cash. 5,381 5,261 3,498 3,045 Bills discounted: Secured by United States Government obligations.. 6,800 15,252 11,948 23, 052 Other bills discounted. _ 16,709 28,751 21,600 28, 970 Total bills discounted 23, 509 44,003 33,548 52,022 Bills bought in open market 12, 796 2,696 1,486 2,078 United States Government securities: Bonds 1,192 1,240 1,340 1,191 Treasury notes .-. 1,252 3,511 2,464 150 Certificates of indebtedness. 4,973 4,193 807 Total United States Government securities- 7,417 8,944 4,611 1,341 Foreign loans on gold - 413 342 Total bills and securities. 43,722 56,056 39,987 55,441 Uncollected items.. 60,401 67,064 54,296 54,338 Bank premises 2,110 2,364 2,446 2,528 All other resources- 294 389 353 410 Total resources 229,863 239,394 226,066 239,209 LIABILITIES Federal reserve notes in actual circulation., 84,320 93,112 87,579 104,158 Deposits: Member bank—reserve account. 68,973 68,037 66,295 65, 582 Government 734 1,675 2,455 1,801 Foreign bank- 1,492 437 105 85 Other deposits 81 179 235 115 Total deposits.. 71,280 70,328 69,090 67,583 Deferred availability items.. 55,276 57,399 51, 205 49, 352 Capital paid in 6,094 5,993 5,900 5,816 Surplus 12,198 11, 919 11, 701 11, 672 All other liabilities. 695 643 591 628 Total liabilities- 229,863 I 239,394 j 226,066 239, 209 Ratio of total reserves to deposit and Federal reserve note liabilities combined percent-. 75.8 66.2 80.1 71.9 Contingent liability on bills purchased for foreign correspondents. 2,992 3,728 2,433 311 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

312 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD JVo. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Date s T b i e a t o c i n i l e t u l d a s s r l - Total c U G e u S b r o . r e n y S e v - - d . - O c b o d t i u i h l s l n e - s t r - b o o B m k p u i i a n e e l g l r t n h s - t U s S e i n t t c i a i e u t t e s r e - s d l e F g o o i o o a g n l n r n d - s s T c e r a o r e v s t - a e h l s b M p s a e b o d r e n r e s e e v m k i r - - t e s s - ' T po d o s e t i a - t l s l c n s F a e e i o r t r i e r e r i n c t a v d o - e u l e - n s - s c a p R e e g e r n e e v r t - - s e ment ed obligations 1926 Jan. 6 48,323 36,383 11,038 25,345 8,944 398113,530 70,355 71,752 87,997 71.1 13 49,726 35,596 11,762 23,834 4,815 8,944 371107,552 67,250 68,833 84,261 70.3 20 49,750 34,666 10,519 24,147 5,796 8,944 344105,175 67,355 69,794 81,831 69.4 27 51,202 35,771 12,499 23,272 6,434 8,653 344103,515 65,043 69,370 80,463 69.1 Feb. 3 55,548 40,189 16,442 23,747 7,697 7,323 339101,476 70,022 70,839 79,461 67.5 10 50,246 34,813 11,220 23,593 8,773 6,273 387108,026 69,904 72, ~" 78,892 71.4 17 53,053 37,748 11,530 26,218 8,790 6,144 371107,393 69,803 74,344 78,630 70.2 24 51,467 36,014 14,159 21,855 9,634 5,443 376 101,568 65,055 70,216 78,179 68.4 Mar. 3... 58,695 43,417 14,795j 28,622 9,374 5,443 461 99,3781 70,68071,895 77,556 66.5 10. 61,082 43,650 14,681 28,969 10,841 6,125 466 96,326 68,888 70,887 78,235 64.6 17 59,692 45,023 15,721 29,302 10,223 4,038 408 95,504 68,358 68,920 77,331 65.3 24 58,330 42,353 16,587 25,766 10,513 5,040 424 97,937 67,313 70,841 76,964 66.3 31 62,153 45,387 16,118! 29,269 10,443 5,87f 451 66,818 72,867 75,985 64.7 Apr. 7 57,441 40,558 12,143!28,415 9,774 6,643 466 96,584 68,511 71,143 76,301 65.5 14 64,468 44,709 13,413| 31,296 10,636 8,662 461 87,341 66,842 70,234 74,028 60.5 21 68,121 48,505 15,912132,593 9,812 9,343 461 80,130 66,662 68,018 72,981 56.8 28 61,76" 43,117 14,779; 28,338 8,878 9,343 429 87,373 65,850 68,586 72,448 62.0 May 5 62,036 45,224 15,542; 29,682 7,071 9,343 398 87,162 67,475 68,606 72,642 61.7 12 59,607 43,065 14,395!28,670 6,807J 9,343 392 86,943 64,627 66,064 72,756 62.6 19._ 60,775 44,233 13,633! 30,600 6,807 i 9,343 392 86,875 67,062 68,170 71,413 62.2 26 64,380 46,184 15,687 30,497 8,4611 9,343 392 86,628 67,576 69,343 71,473 61.5 June 2 67,01 47,054 16,657 30,397 9,927! 9,561 472 81,123 65,955 68,303 72,97' 57.4 9 67,556 46,013 15,451130,562 11,173 9,925 445 78,250 65,307 65,731 72,015 56.8 16 65,768 45 438 13,091!32,347 11,647 8,286 397 81,180 66,356 67,500 71,315 58.5 23 69,421 48,089 16,284' 31,805 11,635i 9,342 355 75,116 64,602 65,376 70,509 55.3 30 65,860 45,570 14,167 31,403 10,656| 9,342 292 81,403 66,518 67,029 70,247 59.3 July 7 63,600 44,108 13.241 30,867 9,9411 9,291 260 89,091 73,183 75,798 71,483 60.5 14 58,836 40,402 9,717 30,685 8,922 9,342 170 89,638 68,130 69,953 70,207 64.0 21 61,658 42,808 10,2681 32,540 9,349! 9,342 15! 88,135 68,927 70,392 69,975 62.8 28 63,679 44,216 11,502; 32,71410,052; 9,342 6£ 90,796 71,472 75,287 69,903 62.5 Aug. 4 63,186 43,148 10,765 32,383 10,696! 9,342 86,761 68,982 70,218 70,601 61.6 11 64,363 44,666 13,546: 31,120 10,495 j 9,202 85,166 68,586 70,255 71,113 60.2 18- 66,909 45,327 10,901' 34,426 12,593! 8,989 83,103 67,574 69,203 71,652 59.0 25 65,896 45,347 13,060 32,287 12, 7071 7,842 85,998 67, 81670,252 71,625 60.6 Sept. 1 67,947 47,649 11,470: 36,179 12,557 7,741 .! 86,14667,14' 70,668 72,971 60.0 8 64,928 45, 62810,616!35,012 11,850 7,450 86,027 66,786 67,622 75,825 60.0 15 64,365 46,015 11,424i 34,591 11,291 7,059 90,500 67,872 68,527 76,100 62.6 22 64,969 45,776 12,704; 33,072 12,133 7,060 92,632 66,666 71,696 76,182 62.6 29 65,440 46,354 12,519 33,835 12,288 6,798 97,571 75,96: 76,083 64.2 Oct. 6 63,621 43,164 12,075 31,089 13,398 7,059 96,510 68,688 70,865 78,197 64.7 13 65,530 45,733 14,103131, 63012,738| 7,059 95,533 68,120 70,71S 79,295 63.7 20 67,883 47,614 15,307132,307 13,210 7,059 90,709 68,080 69,31 79.644 60.9 27 62,627 41, 86615,146 26,720 13,701 7,060 100,764 67,717 72,225 79.645 66.3 Nov. 3. 56,772 35,364 10,336 25,028 14,349 7,059 108,525 69,212 72,97! 81,353 70.3 10 „ 57,242 34,945 11,197 23,748 15,237 7,060 105,536 69,61' 70,927 81,979 69.0 17 „ 57,501 35,640 10,797 24,843 14,802 7,059 103,976 69,182 72,986 80,752 67.6 24 56,705 35,907 11,920 23,987 13, 754 7,044 110,294 69,892 73,447 82,84" 70.6 Dec. 1 48,382 29,205 9,587 19,618 12,1381 7,039 120,127 68,860 73,81: 83,352 76.4 8 44,794 25,493 8,504 16,989 11,975 7,326 121,062 68.442 70,31 85,249 77.8 15 46,679 27, 643 7,308 20,335 12,252 6.784 120,878 69,940 71, 73' 85,703 76.8 22 49,611 29,461 8,592 20,869 12.915| 7.235 [110,352 62,06S 65,31 90,254 70.9 29 45.660 25,271 6,596 18, 68213,147j 7,235 115,282 67,366 69,37; 86, 278 74.1 Daily average: 1926 60,495 41,91 10,532 7,834 218 95,146 67,244 70,481 77,631 64.2 1925 55,095 43,025 6,720 4,848 502 98,570 65,450 67, 87* 78,026 67.6 1924 49,976 44,070 1,142 4,737 103,804 62,404 65,23C 80,304 71.3 1923 62, 73659.59C 1,469 1,677 94,731 60,829 63,51( 88,188 62.4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTBICT NO. 5—RICHMOND 313 No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member U.S. banks Bills securi- Month d an i c T s h d c o a o t s p u a e u l n s r t - s Total c M o n b l e l o a m a t n t e e b k s r e a r l c R o b u e i d n ll i t s s e - d b i m n o B a u i o r l g p l k s h e e t n t b F r b e o f o e a r s t d u o h e n e g m r e k r v h r s a e t l U i c b m n . u o a r u S o i r t g p . k i h e e e s n s t e t - b F r b e o f o e t a r s t u d i o e h n e e g m r e s k v r h r s a e t l F o l n o o r a g e n o ig s ld n 1926 January 165,051 159,217 143,813 15,404 5,823 11 February _ 179, 752 173, 699 164, 538 9,161 5,550 503 March 327,185 318,411 302, 720 15,691 5,757 2,906 111 April 266,331 255,411 238, 590 16, 821 6,515 492 3, 651 225 37 May 242, 343 234,151 219, 834 14, 317 7,574 141 477 June _ 281,484 271, 502 256, 314 15,188 7,600 2,245 110 27 July 227, 719 218, 688 204,110 14, 578 5,516 2,362 550 545 August 220, 677 212,125 196, 275 15, 850 7,515 600 437 September 290, 329 279, 741 267,445 12,296 5,659 2,593 2,336 October 297,163 288,192 275, 491 12, 701 7,909 800 262 November 179, 560 170, 801 161,833 6,805 900 1,054 December 163, 532 150, 711 141, 012 9,699 8,951 300 3,527 43 Total: 1926...2,841,126 2, 732, 649 2, 571,975 160,674 81,174 8,047 16, 672 1,360 1,224 1925...2, 324, 8372,265,229 2, 075, 787 189,442 49,035 5,529 2,928 2,116 1924...1,374, 309 1, 357, 776 1,046, 866 310,910 9,399 6,327 465 342 1923...3,021, 880 2,910, 687 2, 532, 491 378,196 10, 643 1100, 550 i Includes $100,500,000 special temporary certificates received from the Secretary of the Treasury. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

314 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Dis- West trict of Mary- North South Num- Month g V in i i r a - l Co b l i u a m- land Virginia C li a n r a o- C li a n r a o- Total N be u r m a - t b c e m o r m o a - c - m en on d t h o f 2 d d u a r t i e n d g month 1926 January.. 11.311 27, 861 43,878 50,624 20,193 5,350 159,217 599 259 February 10, 574 4,344 63,346 49,444 41,052 4,939 173,699 599 248 March __ __ . 13,385 9,252 73,384 90, 862 122, 796 8,732 318,411 594 OOO April 14, 526 6,561 38,067 80, 688 109, 449 6,120 255,411 590 301 May 16, 023 6,063 51,170 53,052 102, 928 4,915 234,151 590 295 Juno - 15, 247 12,142 47.108 103, 205 87, 692 6,108 271, 502 589 319 July 17,019 16,695 8,033 119, 019 51,294 6,628 218,688 586 309 August 15,351 19, 637 23, 505 89, 759 56,709 7,164 212,125 587 292 September 15, 295 12,918 39, 003 157,400 50, 949 4,176 279, 741 587 272 October __ _ 15, 842 20, 956 55,863 133,774 58, 284 3,473 288,192 584 271 November 14 052 16, 885 38, 781 87, 554 9,098 4,431 170, 801 584 252 December _.. 13,399 23, 857 35,148 63, 640 7,649 7,018 150, 711 583 245 Total: 1926.. 172,024 177,171 517, 286 1, 079, 021 718, 093 69, 054 2,732,649 1925 154, 352 126, 566 410,487 785, 602 733, 970 54, 252 2, 265, 229 1924 . 220,169 105,456 160,308 507, 935 308,177 55, 731 1,357, 776 1923. 172, 054 613, 041 485,142 1, 235, 751 358,458 46,241 2, 910,687 Number of member banks at end of year:2 1926 127 13 89 182 88 84 583 1925_ .. 126 13 89 193 91 92 604 1924 127 15 91 196 95 100 624 1923 127 15 94 195 97 103 631 Number of member banks accommodated during the year: 1926 -. 74 10 54 143 75 74 430 1925 72 9 54 146 78 69 428 1924 ... 81 11 58 155 80 78 463 1923 65 12 62 146 87 81 453 1 Figures relate only to that part of the State located in the Richmond district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 5 RICHMOND 315 No. 5.—EAKNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 EARNINGS Discounted bills $1,676,456 $1,720,967 $1,905,118 $2,681,590 Purchased bills 374,178 217,075 47,787 62, 795 United States securities 261,476 154,068 164,559 39,541 Deficient reserve penalties.. 69, 214 55,380 65,026 83, 614 Miscellaneous 47,693 34,970 27,750 11,356 Total earnings - 2,429,017 2,182,460 12, 210, 240 2,878,896 CURRENT EXPENSES Salaries: Bank officers _.. 166,800 152,441 169,190 166, 792 Clerical staff 599,998 642,857 718,163 729,497 Special officers and watchmen 44,453 44,392 43,628 38, 587 Allother.. - 67,515 64,881 68, 987 70, 547 Governors' conferences 273 257 310 345 Federal reserve agents' conferences-_ 198 198 66 132 Federal Advisory Council 557 506 322 663 Directors' meetings - 6,635 7,421 7,541 6,515 Traveling expenses 1 __ 16,600 19,657 21, 684 19, 618 Assessments for Federal Reserve Board expenses 38,060 37,770 35,009 36,449 Legal fees _ 4,154 258 1,588 3,207 Insurance pother than on currency and security shipments). 22,282 23,281 23,667 22,289 Insurance on currency and security shipments 33, 742 30,415 29,887 32,996 Taxes on banking house _ 38,798 40,844 41,667 41,831 Light, heat, and power - 8,939 8,622 9,794 10, 724 Repairs and alterations, banking house 11,212 1,569 7,883 Rent.. 10,390 10,331 6,800 1,186 Office and other supplies. 17,997 17,528 26,252 31,489 Printing and stationery.. 29,168 26,003 36,663 43,926 Telephone 6,021 6,051 5,380 6,057 Telegraph. 27,974 29,349 40,489 Postage 113,421 121,347 120,384 126, 823 Expressage 30,568 28,002 27,903 24,063 Miscellaneous expenses... 27,315 28,145 25,053 21,880 Total, exclusive of cost of currency 1,323,070 1,342,125 1,463,696 1,483,988 Federal reserve currency, including shipping charges: Original cost - 56,545 97,110 54,606 41, 328 Cost of redemption _ _ 4,324 12,379 19,532 25,840 Total current expenses. 1,383,939 1,451,614 1,537,834 1, 551,156 PROFIT AND LOSS ACCOUNT Earnings. _. 2,429, 017 2,182,460 2,210,240 2,878,896 Current expenses.. 1,383,939 1,451, 614 1, 537,834 1, 551,156 Current net earnings 1,045,078 730,846 672,406 1,327, 740 Additions to current net earnings . 561 712 2,006 Deductions from current net earnings: Bank premises—depreciation 254,134 81, 671 82,114 89, 671 Furniture and equipment- _ 8,847 18,357 52,819 43, 216 Reserve for probable losses 50,000 100, 000 50,000 Reserve for self-insurance 50,000 50,000 50,000 Allother.. 5,013 5,420 3,898 Total deductions 317,994 155,448 294, 621 236, 785 Net earnings available for dividends, surplus, and franchise tax. 727,645 576,110 379, 791 Dividends paid 363,957 358,162 351,251 342, 295 Transferred to surplus account 2 8 7 4 9 , , 4 21 7 6 2 217,948 28,540 3 3 8 6 4 6 , , 4 1 0 4 4 4 Franchise tax paid United States Government REIMBURSABLE FISCAL AGENCY EXPENSES Salaries. _ 6,050 6,386 22,854 31,524 Allother—. 803 1,674 3,100 14,527 Total. 6,853 8,060 25,954 46,051 ^Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

316 ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications _ 14,367 14,521 15,550 17,804 Notes discounted 61,683 72,348 76,508 77,950 Bills purchased in open market for own account _ 7,219 3,367 511 565 Currency received and counted 102,084,000 93,233,000 94,155,000 80,985,000 Coin received and counted __. 156,440,000 147,919,000 161,693,Q0p 186,736,000 Checks handled. _ _ 50,430,000 48,172,000 46,779,000 47,225,000 Collection items handled: United States Government cou- 1,223,000 1,392,000 1,624,000 2,083,000 All other. 185,000 201,000 205,000 204,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 80,000 148,000 341,000 i 5,811,000 Transfers of funds 114,000 106,000 96,000 85,000 AMOUNTS HANDLED Bills discounted _ $2,732,649,000 $2,265,229,000 $1,357,776,000 $2,910,687,000 Bills purchased in open market for own account 81,174,000 49,035,000 9,399,000 .10,643,000 Currency received and counted 523,891,000 482,560,000 482,854,000 440,247,000 Coin received and counted 15,342,000 14,910,000 14,585,000 14,000,000 Checks handled 13,924,751,000 14,038,544,000 13,254,632,000 13,111,824,000 Collection items handled: United States Government coupons paid.,. __ 13,253,000 14,012,000 15,422,000 17,732,000 Allother.. _ 244,284,000 236,343,000 213,053,000 235,548,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 67,125,000 82,079,000 104,832,000 187,687,000 Transfers of funds. _ 4,219,893,000 3,975,050,000 3,287,812,000 2,747,662,000 1 Large total due to redemption of war savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] Month It n b e m a o m n e n d s k m m i s s b d t e e r i r a n r m i c w a t o b n n w e d o r n n I re t o e s n m e b a r n r F s v a d e e n d d i c r b t e h a s a r w a n l n k b w F a e a n d r I b k d t e r e s e r a m a d a n l s n c t r o h d f e o e s o t r s e h t - r h e v e i e r r S It t o e a n m t e u s U s r n e d T r i r r t a e e w d as n - Total i Num- Num- Num- Num- Number Amount ber Amount ber Amount ber Amount ber Amount 1926 January 3,416 753,498 256,422 109, 548 113 13, 762 3,924 1,133,230 February 3,046 642,693 213,416 101,435 101 12,254 3,481 969,798 March.. 3,694 786,809 266, 853 376 116,478 122 13,922 4,202 1,184,062 April 3,518 778, 632 262,908 107,030 138 15,390 4,031 1,163,960 May.... 3,378 725, 523 263, S 334 99,926 124 14, 338 3,844 1,103, 765 June __ 3,614 805,847 252,026 343 110,135 116 13,677 4,081 1,181,685 July 3,450 739,442 233, 724 335 105, 307 120 14, 694 3,914 1,093,167 August 3,223 704,138 230,411 311 108, 521 117 13,695 3,658 1,056, 765 September 3,370 754,393 224,005 306 119,205 126 13,110 3,810 1,110, 713 October 3,682 823,005 260,685 353 131, 824 148 14,839 4,192 1, 230,353 November 789, 768 250,185 352 120,442 131 14,479 4,179 1,174, 874 December 4,123 844, 252 264,660 458 124,631 123 15,762 4,713 1,249,305 Total: 1926 42,202 9,148,000 102 2,979,2734,246 1,354,482 1,479 169,922 48,029 13, 651, 677 1925.— 4400,,885500212,225,836 4,115 1,396, 259 1,371 156,658 46,33613,778,753 1924___ M4O0,, 225577 Ul,625,770 3,876 1,279,159 1,350 152,650 45,483113,057,579 1923.... 40,600Ul,399,271 3,780 1,309,371 1,334 185,101 45,71412,893,743 1 Exclusive of duplications on account of items handled by both parent bank and branch. 1 Includes items drawn on Federal reserve bank and its branch, separate figures not being available. 1 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 5 RICHMOND 317 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD-SETTLEMENT FUND [In thousands of dollars] Federal re- Transfers for Total Total Transit clearing serve note Government pay- receipts 1926, week ending- clearing account t F o m e d o e e n th r t a s e l r F o f e r t d o h e m e r r al Net g N a e in t Pay- Pay- Re- Pay- Re- reserve t Receipts ments ceipts ments ceipts banks banks Jan. 6 (5 days). 114,014 115,323 520 463 2,000 1,000 116,534 116,786 252 13 141,872 132,644 1,095 1,179 142,967 133,823 9,144 20 148,704 145,608 1.429 355 150,133 145,963 4,170 27 145,742 142,580 1,000 146,726 143,580 3,146 Feb. 3. 155,837 155.826 730 1,010 156,567 156,836 10.. 132,848 135,430 618 684 133,466 136,114 2,648 17.. 136,624 134,811 670 890 137,294 135,701 1,593 24.. 131,728 126,828 419 707 132,147 127,535 4,612 Mar. 3_. 172,614 171,428 1,043 173,657 172,054 1,603 10.. 138,380 130.487 655 703 139,035 131,190 7,845 17.. 161,133 172,663 819 934 13,000 174.952 173,597 1,355 24.. 161,108 174,058 528 909 10,000 171,636 174, 967 3,331 31- 148,449 147,989 852 762 149,301 148, 751"""550 Apr. 7.. 134,658 132, 760 939 530 1,000 135, 597 134,290 1.,307 14.. 131, 640 120, 296 344 695 131,984 120,9911.00,,999933 21.. 173,046 167,142 972 154 174,018 167,296 6,722 28.. 136,688 141,870 534 1,6 1,000 137,222 144, 516 7.294 May 5.. 140,979 137,776 1,130 788 142,109 138, 5643,545 12.. 131,317 128.488 75: 884 132,074 129,372 2,702 19.. 1 1 5 4 2 6 , , 3 7 6 5 0 6 1 14 5 4 2 , , 8 2 4 2 5 1 5 9 9 1 3 8 1,4 9 0 0 7 8 3,000 1 i 4 m 6 , . 6 95 7 3 4 1 1 4 5 5 3 , ,7 6 5 2 3 8 2 1 , .3 9 2 2 5 1 June 2.. 127,348 122,695 736 629 128,084 123,324 4,760 9.. 139, 980 132,884 1,021 1,115 1,400 141,001 135,399 5,602 16.. 155,180 161.804 799 705 3,000 158, 979 162,509 3,530 23.. 158.433 163,205 649 675 11,000 500 170,082 164,380 5,~702 30-. 162,061 167,552 762 1,200 4,000 6,000 166, 823 174,752 7,-929 July 7_. 132,326 142, 004 685 464 500 133. 511 142,468 8,957 14.. 124,211 124,076 792 734 125,003 124,810 193 21.. 129,679 128,180 652 700 130,331 128,880 1,451 116,509 118,863 992 741 117,501 119,604 2,103 Aug- it:: 1 1 1 2 5 3 , ,5 9 8 6 5 7 1 1 1 2 3 0 , , 9 6 4 5 3 2 8 7 4 5 3 0 6 7 3 2 3 8 1,000 1 11 2 7 4 , , 7 4 1 2 7 8 1 11 2 4 1 , , 6 2 7 8 1 5 3 3, , 0 1 4 4 6 3 18.. 131,112 130,566 680 622 1,000 500 132,792 131,688 1,104 25.. 122,145 126,513 821 684 2,000 124,966 127,197 2,231 Sept. 1_. 117,810 118,159 797 875 118,607 119,034 427 8.. 98,710 99,826 684 445 2,000 101,394 100,271 1,123 15.. 127,737 132,333 857 1,046 2,000 130,594 133,379 2,"785 22.. 156,237 167,718 796 410 8,000 165,033 168,128 3,095 29.. 139,418 1,196 1,097 134,789 140,515 5,726 Oct. 6.. 139,931 140,637 946 1,292 140,877 141,929 1,052 13.. 123,277 123,226 692 951 1,000 124,969 124,177 792 20.. 173,329 171,963 802 410 3,000 177,131 172,373 4,758 27.. 150,586 160,014 1,028 1,282 151,614 161,296 9.682 Nov. 3.. 135,979 145,243 592 372 136,571 145,615 9,044 10.. 137,502 135,944 885 1,194 138,387 137,138 1,249 17.. 139,623 139,045 817 268 2,000 142,440 139,313 3,127 24.. 145,032 152,527 761 1,007 145,793 153,534 7.741 Dec. 1 131,951 141,387 1,037 132,641 142,424 9.783 8 150,460 150,693 846 985 2,000 151,306 153,678 2.372 15 147.154 148,343 675 334 2.000 1,000 149,829 149,677 152 22 155,367 156,253 914 1,101 10,000 1,000 166,281 158,354 7,927 29 115,971 117,358 629 319 1,000 116,600 118,677 2,077 31 (2 days). 49,720 52,538 88 263 1,000 50,808 52,801 1,993 Total: 1926... 305,002 7.356,635 41,426 41.552 81,500 16,400 7,427,928 7,414,587 13,341 1925... 57.500 41,500 6,848,393 6,819,869 28,524 1924... 53.000 19,000 5,786,775 5,777,567 9,208 1923.. 52,000 47,000 6,415,899 6,417,897 1,998 Net loss in ownership of gold since establishment of fund in 1915, $65,799,000. 38494—27 22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] RICHMOND DISTRICT Loans and investments Net Investments Capital, demand Call date Total a c L n o d u o n a d n t i s s s i - Total U S G e n t r a o i n t t v e e - - s d s O ec th u e ri r - b f D a ro n u m k e s s p u v u r a r i n o p d n d f l e d i u i t d - s s, de T p o o t s a i l ts d m i e D t a p s e n o - 2 d s- de T p i o m s e its d U S ep n ta o i t t s e e i s d ts D ba u n e k t s o d d e N i e m t p s e a o t 3 n s- d G m t o p a i v m l e n u e n d e s r t n- R F re b e w e s a d s e i e n e t r h r k r v v a e e l p c r a B o e a y u d n i a l i n d l b s s t - l s e r b N b e a e i p u n n r o m g k o r s t - f ment ties deposits securities 1921 Dec. 31.. 1,120,499 865,753 254,746 150,261 104,485 71,059 209, 590 499, 751362,861 13, 235 102,822 518,048 894,144 58,024 115,193 625 1922 Mar. 10_. 1,102,882 853,308 249,574 144,723 104,851 69,019 214, 932 964, 733479,713 371, 994 11,497 101, 529 502, 065 885, 556 54,126 89,008 June 30 1,095,197 855, 378239, 819 129,023 110,796 81, 798218,077 1,022, 874513,133 395,235 7,056 107,450 530, 531 932, 822 59,714 54,388 628 Dec. 29_ 1,153, 576 896, 025257, 551 145,898 111, 653 86,156 223,193 1,089,046 543,146 399,175 13,095 133, 630 573, 208 985, 478 61,123 66,810 630 I, 1923 Apr. 3. 1,174,053 911, 680262, 373 150, 986111, 387 90,335 222, 8361,116,052 552, 277422, 732 14, 702 126, 341 576,158 1,013, 592 61,395 63,080 June 30 1,188,344 925,002 263, 342 149,753 113, 589 80, 510222, 3921,095,135 540,434 432, 936 14, 090 107, 675 553, 903 "., 000, 929 59,493 85,479 629 Sept. 14 1,199, 478 933, 871265, 607 150,518 115,089 80, 302226, 5921,101,044 546, 463432, 629 8,775 113,177 559, 904 , 001, 308 60. 947 94, 642 626 Dec. 31_ — 1, 210, 340 949, 964260,376 145,422 114,954 102,331 222,481 1,193,325 592, 510441, 388 10,494 617,481 , 069, 363 66, 378 65, 753 627 1924 Mjir. 31.— — 1,216, 434 959, 012257,422 136,488 120, 934 81, 830230, 2711,141, 613556, 026455, 391 14, 257 115,! 571, 642 ., 041,290 61,505 73, 522 626 June30_- 1,197, 409 953, 627243, 782 127, 536116,246 87,187 229,001 1,141, 557541, 025466,110 10, 635 123, 787 552, 504 ., 029, 249 61,079 68,870 624 Qct. 10_ _ 1,220, 280 958, 854261,426 136,055 125,371 107, 074234, 0731,192, 796551, 462479,437 20, 641 141, 256 576,101 ., 076,179 64, 699 53, 286 620 Dec. 31.J- — 1, 227, 798 960,100 267, 698 137, 000130,698 109,057 229,014 1,240, 916596, 554483, 072 12,472 148, 818 614,090 , 109, 634 69,632 50, 515 617 '.i ""'•• 1925 Apr. 6... 1, 249, 755 979, 503270, 252 140, 716129, 536 98. 236235, 0341, 224,124566, 244494, 553 22, 934 140, 393 592, 413 1,109, 900 65,060 51, 814 608 June 30.—------ 1,255, 852 991,313 264, 539 133, 891130, 648 91,496 234,199 1, 212, 905567, 304510, 542 12,088 122, 971 576,684 1,099,314 62,745 68,535 607 Sept, 28--— — 1,280. 489 1,019,307 261,182 131, 374129,808 104,110 234,103 1, 248, 326582, 968507, 871 13, 877 143, 610 603, 992 1,125, 740 68,417 71,013 606 Blec.3l ——— 1. 297,421 1,033,410 264,011 129,927 134,084 112, 063 1, 316,122630, 877510, 316 15, 543 159,386 650, 200 1,176,059 70,031 58,612 604 1926 Apr. 12 1,298,087 1,030,423 267, 664 134,889 132, 775 94,614 234,457 1,274,914 597, 618517,887 21,124 138,285 616,696 1,155, 707 66, 746 55,335 592 June 30 1, 282, 285 1, 017, 261265,024 126,264 138,760 99,617 232,255 1,267, 673601,370 522, 721 13, 775 129, 807 611, 218 1,147,714 66,977 59,590 587 Dec. 3i~ 1, 277, 700 1,014,086 263, 614 120, 744142, 870111,896 233,269 1, 313,424625, 729526, 267 12,489 148, 939 643, 630 1,182,386 71,890 39,728 583 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF BALTIMORE 1925 Dec. 31 - 206,177 152, 601 53, 576 23,0401 30,536 16.3191 38,072; 232,322 128, 397 57,115 5, 459 41,351 127, 735! 190, 309 12,120 8,647 1926 Apr. 12 _ 206, 433 154, 285 52.148 21, 8601 30,288 12. 2501 38,883! 218,965| 115,404 57, 900 i 9,957 35, 704 117,883 185,740 12.928 4,382 13 June 30. 200, 671 148, 211 52, 460 19,245 33,215! 17,146! 38,782! 223,039; 122,528 56, 834 5, 394 38 283 122, 834 185, 062 12,494 2, " 13 Dec. 31- 201, 534 148,653 52,881 20,448 32,433; 19,255) 38,996! 230,709 126,168 60, 598 4,662 39,281 124, 586 189,846 13,057 3, 13 CITY OF RICHMOND 1925 Dec. 31- 119,410 107, 731 11,679 3,838 7,841 8; 776 21, 439 128, 363 62,151 29, 390 900 35,922 72, 679 102, 969 7,013 10 3 1926 Apr. 12. 109,136 97, 511 11625 4 001 7,624 7, 089! 20, 594 113, 716 51,078 30, 420 1, 039!31,179 60,167 91, 626 7,561 6,892 June 30. 110, 726 96, 763 13963 3215 10748 6, 748 20.260 111, 774 52, 627 31, 495 635J 27,017 60. 737 92,867 6,638 6,597 M Dec. 31. 110,524;1 94,730 15794 3274 12520 6,811 20, 419 118,022 56, 348 29, 824 493* 31,357 67,134 97, 451 7,505 2,436 a CITY OF WASHINGTON i 1925 Dec. 31 i 116, 106 83, 410 32, 696 19,396. 13,300 8,564) 18,295 125,154 76, 052 34, 590 2, 901 11,611 76,614 114,105 8,570 5,532 1926 « Apr. 12 118,224 85, 241 32, 983 21, 023 11, 960 8, 0581 19,653 129,132 76, 833 37, 234j 3, 562 11. 503 78, 087 118, 883 8,797 1,519 13 June 30 117,547 85, 310 32, 237 19, 576 12,661 11.169! 19,951 131, 365 81, 301 35, 5961 3, 208 11, 260 80, 384 119,188 9,476 3,046 13 g Dec. 31 117.348 86, 638 30, 710 18,185 12, 525 j 7, 268! 20, 306 125, 841 75, 069 35, 026| 3,159 12, 587 76, 826 115,011 8,903 4,858 13 o 5J i Including rediscounts and overdrafts. * Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

320 ANNUAL EEPORT OF THE FEDEBAL EESEEVE BOARD No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (604 1926 (592 1926 (587 1926 (583 banks) banks) banks) banks) RESOURCES Loans and discounts _ 1,032,689 1,029,758 1,016,652 1,013,468 Overdrafts _ _. 721 665 609 618 United States Government securities 129,927 134,889 126,264 120,744 Other bonds, stocks, and securities 134,084 132,775 138, 760 142,870 Total loans and investments 1,297,421 1,298,087 1,282,285 1,277, 700 Customers' liability on account of acceptances 16.936 10,284 6,692 10,296 Banking house, furniture, and fixtures 57,037 57,790 59,093 61,240 Other real estate owned 11, 697 11,175 10,840 12,088 Cash in vault 30, 938 26,992 26, 739 27,447 Reserve with Federal reserve bank 70,031 66, 746 66,977 71, 890 Items with Federal reserve banks in process of collection. 54, 487 47, 715 43, 303 47,009 Due from banks, bankers, and trust companies 112,063 94, 614 99,617 111,896 Exchanges for clearing house and checks on other banks in same place 29,346 21,083 24,888 32, 280 Outside checks and other cash items 4,841 3,316 4,518 4,080 Redemption fund and due from United States Treasurer. 3.083 2,997 2,980 2,992 United States securities borrowed 1 '657 1,147 2,608 3,604 Other securities borrowed l 337 387 Other assets 5,207 6,044 6,230 5, 734 Total.. 1,693, 744 1,647,990 1,637,107 1, 668, 643 LIABILITIES Capital stock paid in 113,367 116, 223 115,953 115, 972 Surplus fund... ___ 86,626 85,001 85,690 87,061 Undivided profits, less expenses and taxes paid 29, 695 33,233 30, 612 30, 236 Reserved for taxes, interest, etc., accrued 3,914 4,419 4,255 3,822 Due Federal reserve banks 10,977 10,606 9,733 11,069 Due to banks, bankers, and trust companies 148,409 127,679 120,074 137, 870 Certified and cashiers' or treasurers' checks outstanding. 14,085 10, 495 12,682 12,439 Demand deposits _ 616, 792 587,123 613, 290 Time deposits.._ 510,316 517,887 522,721 526,267 United States deposits _ 15,543 21,124 13,775 12, 489 Total deposits , 316, m 1,274,914 1,267, 673 1,313,424 Agreements to repurchase United States Government or other securities sold _. 503 543 945 1,783 Bills payable (including all obligations representing money borrowed, other than rediscounts) 31,535 28,099 20,791 Notes and bills rediscounted (including acceptances of other banks and foreign bills of exchange or drafts sold with indorsement) 27,077 27,236 29,701 18,937 Letters of credit and travelers' checks sold for cash and outstanding - _. 231 423 287 Acceptances executed for customers. _ 16,448 10,456 7,070 10,783 Acceptances executed by other banks for account of reporting banks 1,190 459 104 132 National-bank notes outstanding 59,219 58,845 58,485 58,465 United States securities borrowed 4,357 3,530 2,608 3,604 Other securities borrowed 403 444 337 387 Other liabilities .-. 3,057 4,165 3,459 2,959 Total. 1,693,744 1,647,990 1, 637,107 1,668,643 1 Exclusive of securities borrowed by national banks, prior to June 30,1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 5—RICHMOND 321 No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having Banks in cities and towns^having a population of— a population of— Date Total Total Less 5,000 15,000 100,000 Less 5,000 15,000 100,000 than to to and than to to and 5,000 14,999 over 5,000 14,999 99,999 over 1923 Apr. 25... 555,831 99, 559 64, 519 159, 216 232, 537 430,286 122,986 76, 790 125, 581 104, 929 May 23_ _ 550,022 96,462 63,328 152, 755 237,477 433,821 123, 612 77,139 124,959 108,111 June 27_ _ 542,505 94,753 62,204 152,457 233,091 430,426 125,196 76,968 122,958 105, 304 July 25. __ 542,443 94, 670 61,243 150, 509 236,021 431, 766 124,041 78,181 125,482 104,062 Aug. 29. _ 537,103 93, 782 60, 111 146,935 236,275 432,366 125,177 77, 529 125,032 104, 628 Sept. 26.. 552,044 101,968 63,045 150, 622 236,409 433, 997 125,423 124, 604 105, 881 Oct. 24— 571,263 104,043 67,061 158, 572 241, 587 433, 531 126,291 78, 887 123,952 104,401 Nov. 28.. 587,186 106,210 69, 565 164, 299 247,112 436,939 128,160 80, 630 124,326 103,823 Dec. 26... 581, 215104,471 70,034 166,998 239, 712 449, 549 130,492 81,455 124,432 113,170 1924 Jan. 23 — 589, 933103, 628 68,729 166,147 251,429 443,304 131,421 83,107 124, 663 104,112 Feb. 27._. 563,760 98, 568 66,248 155,734 243,210 452,378 132,250 83,624 129,187 107, 317 Mar. 26-. 550,456 99,447 64,926 157,119 228,964 454,463 132,491 84,347 127, 952 109, 673 Apr. 23... 553,192 96,415 63,491 151,452 241,834 459, 306 132, 691 83, 845 131,243 111, 527 May 28_ _ 544,002 91, 537 59, 663 150, 402 242,400 459, 585 132, 392 83, 634 129, 615 113,944 June 25_ _ 531,197 90,563 58, 682 137,227 244, 725 461,243 132,101 83, 890 130,487 114, 765 July 23— 531,936 88, 573 57, 896 141,790 243, 677 471, 670 132,838 84, 657 134, 582 119, 593 Aug. 27__ 547,400 89,886 58,445 146,172 252, 897 477, 894 131,558 84, 671 138, 221 123, 444 Sept. 24_ _ 555,070 91, 762 60, 758 145,040 257,510 480,381 133,118 85, 643 137,804 123, 816 Oct. 29— 570,215 93, 487 62,070 149, 558 265,100 482,159 132,811 86, 556 138,286 124, 506 Nov. 26.. 585,396 95, 582 64,614 154,168 271,032 483,033 133, 277 87,412 139, 261 123,083 Dec. 24 __ 581,375 95, 673 64,435 153,974 267,293 478, 845 131, 663 87,318 139,172 120, 692 1925 Jan. 28— 594,503 94, 728 62,960 160,738 276,077 486,866 134,363 90,096 139, 447 122, 960 Feb. 25... 588,437 94,475 61,445 158, 694 273,823 494,941 134,792 89, 554 139, 724 130, 871 Mar. 25.. 569,755 92, 877 62,497 156, 289 258,092 492, 908 135,391 87, 903 139,197 130,417 Apr. 22- _ 565,450 90,776 62,036 151, 260 261,378 501, 893 135, 572 88,199 138, 795 139, 327 May 27_ _ 560, 248 87, 731 60,361 148, 506 263, 650 501,137 132,010 86,944 139, 738 142,445 June 24_ _ 558, 817 88,045 58,779 151, 669 260,324 508,488 133,477 87,324 140,920 146, 767 July 29... 566,353 89, 239 57,376 151,554 268,184 510,498 134, 694 87, 934 143, 243 144, 627 Aug. 26. _ 571,001 91,494 59, 509 148, 887 271, 111 509, 526 135, 694 87, 213 144, 532 142, 087 Sept. 23.. 591,505 97,336 65, 430 156, 639 272,100 512,045 137, 548 88,333 145,001 141,163 Oct. 28— 611, 548 97,923 69,126 158,019 286,480 515,563 137, 572 90,153 145,039 142, 799 Nov. 25.. 626,963 99, 286 69,931 163, 678 294,068 516,547 134, 827 90,007 144, 592 147,121 Dec. 23... 610, 641 69, 811 161,296 281,231 509, 524 135, 664 89, 807 140, 759 143, 294 1926 Jan. 27... 613, 437 96,150 68, 703 162,854 285,730 513, 875 137,443 89, 849 142, 897 143, 686 Feb. 24... 620,320 99,442 69,177 165,821 285,880 516, 626 139,423 88,946 141,323 146, 934r Mar. 24.. 605, 734 98,024 67,855 166,530 273, 325 518,652 140,961 89, 724 141,405 146, 562 Apr. 28... 591, 611 93,341 66, 240 161, 209 270,821 516,044 139, 852 89,223 141,774 145,195 May 26_ _ 596,495 91,863 65,441 161, 872 277,319 514,118 139, 564 88,057 141, 864 144, 633 June 23 __ 585, 834 91,428 64,242 158, 862 271,302 518, 690 139,441 88,024 142, 798 148, 427 July 28.._ 606,891 90,136 62,483 161,859 292,413 522, 510 138, 732 88, 721 145, 508 149, 549 Aug. 25_. 603,215 90, 877 62, 371 157,950 292,017 526, 228 140,253 90, 591 145, 288 150,096 Sept. 22- 613,973 94,407 65, 776 164,742 289,048 528,354 140,317 90,792 148, 619 148, 626 Oct. 27-. 618, 930 96,406 67,026 166,323 289,175 527,151 139,303 90, 814 146, 987 150,047 Nov. 24.. 621, 446 96, 207 170,189 286,191 527,102 140, 485 91,060 147, 618 147, 939 Dec. 29... 616,159 67, 299 167, 059 283, 693 526,144 142, 278 90,359 146,417 147,090 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

322 ANNUAL KEPOET OF THE F EDEBAL RESERVE BOARD No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Loans and investments Government deposits Re- r B o o w r- serves ings with from Date (Wednesday) Total Total L se t o O i c e a u n s n ri s - o A th l e l r m v I e e n s n - t t - s Total m N d a e e n - t d Time m G er o e n n v - t - s b F e e r a e r e r n a d v - l k - e s b F e e r a e r e r a n v d - l k e - Weekly averages: 1922 157,949436,315 .27, 560 308, 755 21,634 467,054 320, 590 140,286 6,178 33,979 23,286 1923 .90,743 459,254 .32,332 326,922 L31,489 491,819 333,090 152,283 6,446 35,271 34, 626 1924 593,244 469,038 .32,071 336,967 24,206 516,825 340, 595 169,948 6,282 37,008 19, 605 1925 534,211 501,089 .39,089 62,000 .33,122 564,782 363,959 196,187 4,636 39,967 18, 933 1926 653,362 518, 920 .48, 586 370,334 .34,442 589,6081375,906 207;,533 6,169 41,008 17,456 1926 Jan. 360,743 529,004 .51,767 77,23' .31,739 595,089 85, 5451202,859 6,685 42,462 20,127 13. 359,259 527,812 53,380 174,432 " '"594,951 87,1631201,710 6,078 40,014 18,064 20. 352,889 522, 952 .49, 575 173,377 590,6711 181,290 203,256 6,125i 41,160 17,443 27. 353,421 521, 525 .48, 671 172,854 .31,896 585,404 !77,244|202,035 6,125| 37,589 17,413 1 Feb. 3. 548,632 516,701 46,172 170,529 .31,931 583,389 175,085!202,179 6,125 42, 323 21,182 10- 553,179; 522,383 L50, 347 !72,036 .30, 796 590, 515; 180,254*204,136 6,125 41,937 16,891 17. 351,98611520,848 .50, 621 170, 227 .31,138 587, 7371 [77,326 204,286 6,125! 41, 796 19, 657 24. 349,663] 520,344 .51,98f 168,362 [29,3191587,298- 174, 571-206, 673 6,054 39,205 16,499 i Mar. 3.. 545, 739519,608 51, 793 167,815126,131 585,206| 175,0541204,123 6,029 44,101 21,938 10.. 647,864 520,883 52, 303 168, 580126,981580,409 170, 718J206, 604 3,087 41,423 22,101 17.. 653,945 515,642 [47, 669 167, 973 .38,303 587, 593 j367, 376 206,426 13, 79140, 643 20, 977 24.. 647, 508514,586 L46,99r 167, 589132,922 583,156; 365, 611!206, 212 11, 33341,108 17, 006 31.. 648,268 517, 595L47,826 569, 76$130,673 583,856 165,609 206,934 11,313 39, 014 20,145 Apr. 7.. 651,871 519, .43,495 175, 774 .32, 61 167,5631209,428 11,3971 43,022 15, 901 14.. 651,079 519,85£ .42,059 177,800 31, 220 584, 969! 165,9471206, 946 12,076 39,638 19,270 21-. 648,742 518,87i .42,910 175,966 .29,8661578,141 161,794(207,026 9,321 39,069 21,065 649,685 521,14E L44, 534 176, 61 .28, 536J579, 647 164,170 206, 796 8, 6811 38,567 15, 555 May 5_. 654,071 524, 983143, 521381,46: 129,088J580,144 365,155 206, 042 8, 947! 41,174 16, 516 657, 512521,854144,— 376,89; 135,658 j 588,371 372,844J207,029 8,498! 38,682 16,147 654,230 521, 30"144, 663 176,64' 132,923581,661 368,162 206,065 7,4341 40,195 15,088 26.1 655, 611523,04' 145,102 177, 94, 132, 5641581,141 366, 800 207,269 7,072 41,318 15, 913 June 2._ 652,395 519,04 145,363 373,68C133,3521586,864 373,120 206, 606 7,138 40,576 14, 924 651,186 518,21' 143, 58£374,62£ 132,972 680,9161368,090 206,235 6,591 40,003 15,897 1611 648, 959516,14' 141,81! 374,32i 132,815|579,495 365, 036207,321 7,138| 39,742 15,346 23- 648, 703513, 70 139,37 374,32: 135,002(572, 727358, 3021207,287 7,138 38,455 17,483 30- 642,739 508,854141, 711 367,14' 133,885J592,105 370, 652J215, 221 6,232 39,755 15, 808 July 7-. 647, 539510, 911 141, 932368, 97! 136, 6291595, 397378,4431211,034 5,920' 46,141 13,678 14_. 651,843 512, 64 143, 258369, 39: 139,194! 593,230 378,285 209,082 5,863! 41,017 14,345 21.. 651, 554 512,864142, 97 894 138,690 589,620 373, 3451210,847 5,428 42,870 15,784 28.. 653,632 513,82 144,654369,^7 139,811i595,484 380, 373 209,683 5,428i 44,829 15,925 Aug. 4_ 655,546 516,16! 146,026 370,14: 139,379! 576,972 361,664 209,860 5,448 42,785 15,183 660,199 519,97' 149,74, 370,22! 140,2251601,475 387,565 209,308 4,602 42,313 15,309 656, 559514,931 147,092367,83: 141,629 589,421 375,455 209,825 4,141 41,962 17,567 25 _ 657,311 517, 53! 146,734370,80J 139,772 j 589, 509376, 855 209,504 3,150 40,533 18,839 Sept. 1 660,153 521,06' 155,332365, 73' 139,084 593,665 380,622 209,893 3,150 41,1911 20,380 8 656,396518,17; 149,31C368, 861138,223 596,217 383,190 209,877 3,150 41,920! 17,772 15 1660,534520,48J 150,50C369,98i 140,0491598,632 381,7311209,232 7,e 41,766 22,247 22 1659,543519,961 147,542372,42: 139,580|588,749 372,699 208,381 7,669 40,515 18,996 29 |662,155 522,96' 149, 07: 373, S91139,188 594,818 378, 736 208,955 7,127 40,072 19,886 Oct. 6 664,987 526,65: 149,55]377,100,138,336 601,910 383,999 209,853 40,515 18,562 13 668,566 529,27! 151,50S377,770 139,294 604,478 388,682 209,133! 6,663 40,649 22,698 20 662,673 524,77 151,625373,148137,903 592,994 379,112 209,720 4,162 40,993) 23,355 27 665,025 527,215] 152,03' 375,181137,810J593,281 379,6341210,304 3,343 40,345 23,487 Nov. 3_ 657,204 519,9161160,002359,914;i37,288 604,890 392,404 209,143 3,343 43,435 16,695 10. 655,529 520,3441153,528366,8161135,185J598,666 386,855 208,972 2,839 42,612 16,570 17- 651, 950 517,483 i 153,51f363,967! 134,4671591,065 379,828 209,250 1,987 42,711 18,685 24 _ 650,532 517,293 154,20, 363,088:133,239 588,13' 378,355J207,995 1,784 41,586 19,024 Dec. l- 646,013 514,710 154,37 360,339:131,303 593,884 385,964 206,136 1,784 41,152 13,049 647,876[516,252 155, 591360,659J131,624 593,186 385,158 206,244 1,784 40,573 8,116 22 _ 6 6 4 4 5 2 , , 3 0 3 3 7 2 1 ; ' _ 5— 5_ 0 1_ 91 2 , ; , , 9 1 7 4 2 7 * 1 1 5 5 4 3 ,9 , 3 2 3 < 1 3 35 5 6 7 , , 2 6 2 3 3 31 1 3 3 2 3 , , 0 1 6 9 0 0 J 5 5 8 9 5 2 , , 9 5 5 7 0 1 ! 3 3 —7 8 3 0 , ,4 9 3 9 4 7 2 2 0 0 7 7 , , 6 3 0 9 0 0 4 4 , , 5 56 3 3 7 4 35 2 , , 7 8 3 7 5 1 1 1 3 3 , , 2 2 0 4 9 3 29 _ 644,256 510,1201155,90 354,217il34,136)585, 586 373,247207,811 4,528! 38,357 10,738 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits —- ! Reserves Borrow- Month I with ings from Loans i Federal Federal Invest- Net de- Govern- ! reserve reserve Total On securi- ments mand ment bank bank Total ties All other u M GO January 1922 563, 945 445,157 127,731 317,426 118,788 443,170 307,127 129,658 6,385 32,685 46,296 § February.. 560, 867 439,202 125,315 313,887 121,665 442,881 302,692 130,368 9,821 32,146 March 553, 553 435,856 124,625 311,231 117,697 440,393 301,514 132, 652 6,227 32,827 35,105 April 549, 583 435,335 124,721 310, 614 114,248 448,856 308,224 135, 041 5,591 32,398 27,337 May 545,531 431,333 124,295 307,038 114,198 455, 534 312,484 138,185 4,865 33,253 20,298 June. 547,871 428,634 126, 734 301,900 119,237 473,417 320,451 146,773 6,193 34,009 12,340 I July. , 544,536 425,333 128,445 296, 888 119,203 479,892 331,335 145,296 3,261 34,724 9,499 August 551,643 427,845 129,495 298,350 123,798 480,963 333,103 141,938 5,922 34,882 9,480 September. 557,049 432,571 127,841 304, 730 124,478 477,850 328,747 144,263 4,840 34,304 12, 752 October 567,499 440, 689 127,878 312, 811 126,810 486,780 333,903 146,090 6,787 35,991 17,974 November. 571,724 442,281 130,143 312,138 129,443 488,113 333,671 147,891 6,551 35,827 21,589 December.. 583,896 453, 507 133,917 319, 590 130,389 487, 607 334,228 145,394 7,985 34,482 29,537 1923 January 583,825 i 450,442 136, 762 313,680 133,383 502,044 345,907 148,219 7,918 37,115 22,470 o February 583,409 449,626 133,399 316,227 133,783 495,264 340,025 150,092 5,147 37,043 23,456 March 591,014 457,717 134,952 322,765 133,297 494,915 334,962 152,765 7,188 34,755 29,074 b April__ 590,645 460,033 136,225 323,808 130,612 493, 600 329,445 155,332 8,823 34,833 34,506 May 593, 319 460,835 134,178 326,657 132,484 491,386 327,333 155,444 35,287 36,730 June 587,848 456,046 130,874 325,172 131,802 486, 005 323,429 154,797 7,779 34,296 36,198 July 588,487 455,865 129,632 326,233 132,622 485,794 325,785 152,826 7,183 34,020 38,459 August 588,980 457,599 128,864 328,735 131,381 482,473 324,997 151,809 5,667 33,878 37,315 September. 597, 719 464, 661 129,862 334, 799 133,058 484,054 325,099 152,127 6,828 34,004 42,926 October 598, 512 468, 546 130,097 338,449 129,966 492,716 334,684 152,160 5,872 36, 048 43,684 November. 592,129 465,434 130,871 334, 563 126, 695 497,332 342,842 152,054 2,436 36,202 35,254 December... 592,616 464,142 132,125 332,017 128,474 495, 914 342,435 150,150 3,329 35,454 35,010 1924 January- 594,814 468,088 136,118 331,970 126,726 508, 832 351,739 152,224 4,869 37,497 29,226 February . 590,475 464,803 135,880 328,923 125,672 500, 536 337,815 158,494 4,227 35,337 28,075 March 466,399 136,718 329, 681 124,404 497, 227 330,363 160,591 6,273 32,872 00 April 597,172 476,023 136, 292 339, 731 121,149 503, 702 331,104 164, 755 7,843 35,447 32,505 to May 584,849 ' 467, 840 130, 742 337,098 117,009 496, 419 325,276 165,839 5,304 35, 591 26,221 OP Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HO. 13.—K.EPORTING MEMBER BANKS IN LEADING ClTIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS Continued 00 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrowwith ings from Loans Federal Federal Total On securi- I m nv e e n s ts t- Total N m et a n d d e- Time G m ov e e n r t n- re b s a e n r k ve re b s a e n r k ve g Total ties All other 1924 June 582, 513 468,147 131,728 336,419 114,366 502,624 330,042 168,322 4,260 35,826 19,248 July 578,379 462,867 127,978 334, 889 115,512 505, 841 327,969 173,112 4,760 36,234 15,690 August 581,246 462,010 130,124 331,886 119,236 516,000 334,301 177,244 4,461 8,730 September. 593, 721 469,795 132,106 337,689 123,926 528,929 340,848 179,923 8,158 37,992 10,453 October 604,374 472,950 130,221 342, 729 131,424 541,487 350,200 180,122 11,165 38,337 11,259 November. 608, 520 473,311 127, 624 345, 687 135,209 546, 622 358,432 179,960 8,230 38,841 9,364 December- 607, 957 474,041 129,410 344, 631 133,916 547, 796 363, 635 178,940 5,221 39,501 11,160 1925 January 610, 388 131,388 345, 000 134,000 552,022 366, 520 182,099 3,403 39,946 10,041 February.. 613,589 480,578 132,150 348,428 133,011 559,295 187,059 40,779 9,776 March 619,412 483,100 133,881 349, 219 136,312 556,437 360,443 187,722 8,272 38,420 13,708 April 626,228 135,510 352,923 137.795 552,212 351,216 188,984 12,012 39,189 20,163 May 621,465 485,858 134,959 350,899 135,607 552,972 348,308 196,783 7,881 38,511 18,456 June 625,879 488,901 135,053 353,848 136,978 554,768 349,133 200, 332 5,303 38,600 19,232 July 634, 301 497,987 135,047 362,940 136,314 561,270 354,281 203,919 3,070 40,118 20,373 August 636,835 505, 752 135,531 370,221 131,083 560,156 356,165 202,000 1,991 39,473 19,364 September. 644, 854 516, 574 141,465 375,109 128,280 567,428 367,299 198, 799 1,330 39,654 23,715 October 654, 596 526,105 147,126 378,979 128,491 581,499 378,280 200,165 3,054 41,354 23,597 November. 654,044 525 288 151,830 373,458 128,756 587,904 383,913 202, 516 1,475 42,206 19,532 GO December- 661,449 530^ 755 152,967 377, 788 130, 694 *588,778 382, 271 201, 701 41,267 25,685 1926 January.... 656,578 525,323 150,848 374,475 131,255 590,928 382,210 202,465 6,253 40,306 18,262 February.., 650,866 520,070 149,781 370,289 130.796 587,234 376,809 204,318 6,107 41,315 18,557 March 648,664 517, 662 149,317 368,345 131,002 584,045 368,874 206,060 9,111 41,258 20,433 April 650,345 519,789 143,250 376, 539 130, 556 582,786 364,868 207,549 10,369 40,074 17,948 May.. 655, 356 522,798 144, 562 378,236 132, 558 582,829 368,240 206,601 7,988 40,342 15,916 June 648, 796 515,191 142,371 372,820 133,605 582,421 367,040 208,534 6,847 39,706 15,892 July 651,141 512, 560 143,203 369,357 138, 581 593,434 377,612 210,162 5,660 43,714 14,933 August 657,404 517,153 147,400 369,753 140,251 594,344 209,624 4,335 41,898 16,725 September. 659, 756 520, 531 150,351 370,180 139,225 594,416 379,395 209,268 5,753 41,093 19,856 October 665,313 526,977 151,177 375,800 138,336 598,166 382,857 209, 752 5,557 40,625 22,025 November. 653,804 518,759 155,313 363,446 135,045 595,688 384,360 208,840 2,488 42,586 17,744 Decembers- 645,103 512, 640 154,826 357,814 132,463 590,236 379,760 207,036 3,440 39,738 11,671 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN RICHMOND—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Borrow- Date (Wednesday) Loans R F r e e w e s s d e e i e t r r h v r v a e e l s F f e i r n d o g e m r s al D ba u n e k t s o b f D a ro n u m k e s Total I m nv e e n s t t s - Total N m e a t n d d e- Time ment bank re b s a e n r k ve Total On ri t s ie ec s u- All other 1926 Jan. 6_. 115, 555 104,470 27,643 76,827 11,085 101,475 71,354 29,380 741 8,052 3,081 38,896 25,914 13_ 116, 643 105,706 28,356 77,350 10,937 102, 772 72,850 29,232 690 7,522 949 37,102 16,736 20. 113,304 102, 522 26,721 75,801 10,782 99, 638 69,653 29, 295 690 8,138 1,863 37,203 17,606 27_ 116,210 105,413 29,349 76,064 10,797 102, 065 71,996 29,379 690 5,245 538 36,169 16,174 Feb. 3. 112,296 101, 519 25,127 76, 392 10,777 99, 006 68,898 29,418 690 7,969 836 36,450 16,912 10- 114,479 103,677 25,253 78, 424 10,802 100,902 70,642 29,570 690 8,419 1,612 38,023 17,120 17_ 113,105 102,261 25, 773 76,488 10,844 97, 951 67, 592 29,669 690 7,974 4,078 37,270 19,211 24_ 114, 202 102,845 26, 716 76,129 11,357 100, 524 69, 368 30,466 690 7,056 993 36,190 16,923 Mar. 3- 110,241 99,119 24,041 75, 078 11,122 95, 502 64, 566 30,342 594 8,083 3,747 35, 708 18,156 10- 110,282 99,164 24,088 75,076 11,118 96,004 64,996 30,314 694 8,016 5,230 35,132 16,322 17- 109, 275 97, 456 22, 617 74,839 11,819 92, 530 61,350 30, 214 966 7,009 4,065 34,535 17,287 24 _ 108, 531 97, 247 23,130 74,117 11,284 95,409 63,999 30,648 762 7,793 2,622 31,808 15,468 31- 108, 519 97,231 24,056 73,175 11,288 92,801 61, 702 30, 357 742 7,183 5,076 30,432 16,238 Apr. 108, 500 97,087 19,893 77,194 11,413 92, 613 61,380 30,407 826 7,184 2,979 33,011 15,565 107,597 96,362 19,858 76, 504 11,235 91,042 59,868 30,412 762 6,978 5,065 32,696 17,124 106, 878 95, 659 19,923 75, 736 11,219 89, 258 58,114 30, 517 627 6,135 5,266 30,793 15,890 108,060 96,863 21, 009 75,854 11,197 91,871 60,883 30, 361 627 6,105 1,021 30,188 17,123 May 5-. 109,362 97,745 20,849 76,896 11,617 92,408 61,809 29,996 603 7,360 1,770 31,899 16,274 12. 105,966 94,174 20,335 73,839 11,792 92, 563 61,845 30,146 572 6,673 690 31,977 16,344 19- 107, 703 95,482 20,838 74, 644 12,221 91,769 60,977 30,291 501 6,674 2,571 33,445 16,965 26- 108, 992 96,742 j 21,186 75, 556 12,250 93,801 63, 088 30, 232 481 8,493 1,946 31,385 16,568 June 2_ 109,115 96, 756 21,961 74, 795 12,359 94,797 64,087 30, 229 481 7,851 2,963 31,278 16,475 9. 108,536 95.812 21,681 74,131 12,724 92,263 61,870 29,912 481 7,996 4,061 30,985 16,224 16. 108, 557 95,833 21, 573 74,260 12,724 89, 777 59, 252 30, 044 481 7,582 6,300 30,224 16,861 23- 108,826 95,882 21, 683 74,199 12,944 90,487 58,995 31,011 481 4,975 3,464 28, 508 15,022 30- 110,473 96,979 21,693 75, 286 13,494 92,463 60,545 31,497 421 6,600 5,648 26,843 14,309 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14•-—REPORTING MEMBER BANKS IN RICHMOND—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS—Continued CO o [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Reserves Borrow Date (Wednesday) Total Loans I m nv e e n s t t s - Total N m e a t n d d e- Time G m ov e e n r t n- F re b w e s d a e i n e t r h r v k a e l F re b f e i r s n a d o e n g e m r k s v ra e l D b u a e n k to b f D a r u n o e k m s On secu- Total rities All other 1926 July 7- 111,210 95,940 21,126 74, 814 15, 270 94,976 63, 093 31,483 400 9,484 6,589 31,755 14,618 14_ 112, 065 95, 780 21,317 74,463 16, 285 94,131 62, 367 31,395 369 7,183 5,841 31,518 16,393 21 _ 111,561 95, 717 21,422 74, 295 15, 844 93, 074 61, 098 31, 607 369 7,561 6,390 30, 679 14.877 28- 111, 703 95, 998 21, 576 74, 422 15, 705 95,139 63, 280 31,490 369 7,760 4,740 29, 294 13,559 Aug. 4. 109,603 93, 807 19, 973 73, 834 15, 796 93, 218 61, 562 31, 287 369 6,645 3,929 28, 645 13, 634 11. 109,869 13, 974 19, 753 74, 221 15, 895 94,585 63,191 31, 071 323 7,097 2,048 29, 879 14,172 18- 110,972 21, 248 73,838 15, 886 92,964 61, 709 30,946 291 6, 655 5,263 29,009 14,648 25- 114, 081 23,192 75,017 15,872 97, 504 66, 591 30, 690 6,311 4,344 29,157 13.878 Sept. 114, 380 24, 370 74,166 15,844 95, 901 64,996 30,682 223 7,190 6,830 14, 900 111,876 95, 987 22, 814 73,173 15,889 95, 361 64, 611 30, 527 223 8,957 7,209 30,594 15,838 15- 112, 037 96,127 23,162 72, 965 15, 910 94.107 63, 005 30,493 609 7,215 7,066 30, 802 17,271 22- 113,541 97, 487 23,465 74, 022 16,054 94,418 63,868 29, 941 609 7,128 7,106 30, 045 15, 549 29- 115,465 99, 538 24, 018 75, 520 15, 927 95,859 65,309 29, 941 609 6,845 7,251 30, 626 16,114 Oct. 6_ 115, 545 99, 874 23, 666 76, 208 15, 671 96, 665 65, 589 30,078 998 7,313 7,233 32,814 15, 768 13. 115,960 100, 345 22, 519 77, 826 15, 615 96.108 65,462 30,103 543 7,263 7,879 31, 687 17,384 20 _ 115, 439 99,871 22, 874 76, 997 15,568 91,666 61, 582 29, 737 347 10, 623 31,358 17,167 27 _ 115,010 99, 202 23,053 76,149 15.808 95, 702 65, 673 29, 734 295 6,951 7,713 30, 756 15,045 Nov. 3 | 114,738 98, 751 23, 529 75, 222 15, 987 98, 682 68, 683 29, 704 295 8,397 5,362 32, 687 19,213 10 113,841 97,848 22,882 74, 966 15, 993 97, 218 67, 301 29, 668 249 8,042 5,859 32,491 17, 590 17 112,294 96, 603 22, 930 73, 673 15, 691 93, 770 63, 949 29, 647 174 7,713 7,038 34, 451 19,284 24 113,093 97, 440 24,248 73,192 15, 653 96, 052 66, 329 29, 570 153 7,943 5,180 32, 638 17,772 Dec. 1 | 111,633 96, 307 23,985 72, 322 15, 326 97, 300 67, 807 29,340 153 6,901 1,791 34,335 18, 639 8 I 111,388 96, 382 23, 921 72, 461 15, 006 97,239 29,063 153 7,060 639 33, 680 17,204 15 110,228 95, 070 24, 037 71,033 15,158 95,157 65,181 29, 590 386 7,419 3,024 33,341 18,636 22 110,623 95, 632 24,385 71,247 14,991 64,067 29,441 386 4,826 2,650 32,309 16,955 29 110,190 95, 263 24, 745 70, 518 14, 927 96,172 66,141 29,645 386 1,490 31,809 16,968 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

327 DISTRICT NO. 5 KIOHMOND No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 7 centers * Asheville, N. C* Baltimore, Md. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January.. 825,996 767, 253 733,878 32,392 23, 793 22, 638 453, 690 410, 418 388, 917 February 723,140 675, 206 650,035 30,257 18, 709 19,893 398, 561 342,731 339,941 March 799,954 739,378 699,209 40,189 23,139 21,762 454,434 395,868 387,337 April 773,032 747,785 672,896 40,613 26, 598 23,893 449,046 426, 961 357, 222 May -.- 726, 0£4 718, 890 665,057 40,726 26,312 25, 284 415.325 408,301 364,928 June 797,444 774, 907 673, 372 38,453 31, 635 23, 322 457,088 452,449 377, 505 July.. 843,461 795,146 676, 364 42, 651 28,981 26,956 495,996 456,468 372,039 August 689,434 724,344 674, 370 35, 631 28, 682 25,041 420, 254 389, 570 September 723,082 757, 569 648,670 34,690 28,370 24, 376 379, 752 420,082 363,960 October. 826,161 844,702 733,682 34,904 31, 672 24, 915 434,807 450,402 401,009 November 732,881 769, 680 675,127 31, 517 27,690 20,444 396, 398 412,165 361,620 December _ 875,117 878, 411 795, 584 35,946 31, 272 23, 660 481,809 476, 249 422, 600 Total 9, 335, 726 9,193, 271 8,298,244 437,969 326,853 282,184 5,204,952 5,072,348 4, 526, 648 Charleston, S. C. Charleston, W. Va.* Charlotte, N. C. Month 1926 1925 1924 I 1926 1925 1924 1926 1925 1924 I January 32,162 27, 266 42,318 41, 873 52,036 48, 657 44,869 February... 25, 511 25,431 24, 498 34,333 30, 953 31, 690 45, 891 43,869 42, 694 March 28, 576 28, 550 23, 222 37,835 39, 225 37, 615 54, 233 51, 514 45, 931 April 26,831 28,181 31, 040 36, 215 32, 715 35,101 53, 838 53, 627 43, 301 May 26, 476 22,570 24,802 34,890 33,233 34,829 50,413 49, 085 42, 358 June 27,895 21, 444 28,109 36,228 37,008 34,433 49,178 46, 609 40, 216 July. 22, 675 22, 433 23, 051 38,123 35, 947 34, 603 49, 218 45, 933 40, 386 August 23, 927 23,859 21,172 34, 504 35,386 32, 650 45, 531 42, 373 37,875 September. 29,053 25,043 22,168 35,177 34, 562 33, 681 50,876 47, 621 43, 236 October 41, 707 31, 374 28,055 38,181 37,314 35,189 55,378 57, 374 48,426 November. 26,658 24,965 24, 759 38, 211 36,459 32,873 49, 931 48,256 44,843 December.. 28, 243 27,809 31,438 46,399 44,435 43,882 55,203 55, 503 53, 071 Total 336,190 313,821 309, 580 452,414 439,110 423, 535 611, 726 590,421 527, 206 Columbia, S. C. Cumberland, Md.* Danville, Va.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 18,388 21,680 26, 786 8,642 8,402 8,648 10,860 12, 790 12,520 February... 15,396 19,401 23,367 7,759 7,747 7,618 9,151 9,528 10,152 March 19,182 22,229 22,216 9,034 8,460 9,160 8,791 8,809 9,240 April 20,330 22,137 21,875 9,039 8,800 9,447 8,561 7, 966 7,887 May 20, 592 20,933 19,182 9,207 9,400 9,023 8,195 7,923 8,219 June 15,848 16, 752 19,811 9,759 9,474 9,445 9,170 10,144 7,250 July. 19,371 16, 786 19,241 10, 736 10, 921 10,300 10,080 11,867 8,655 August 16,772 16,307 15, 724 8,206 8,695 9,161 7,350 8,807 7,862 September. 21,466 20,849 16,545 8,843 8,601 7,865 8,008 9,134 October... 22,456 22,464 24, 745 9,325 10,141 9,574 14,995 11,760 11,583 November. 19,009 18,444 20,990 8,728 8,728 8,532 16,847 11,711 13,514 December.. 20,312 18,762 21,241 9,695 10,044 9,381 17, 549 13,038 13,874 Total 229,122 236, 744 251, 723 108,973 109, 680 108,890 129,414 122,351 119,890 Durham, N. C* Greensboro, N. C* I Greenville, S. C* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 27,600 22, 968 20,941 31,651 23,805 23,999 30,054 27,778 27,906 February.. 26,648 21,253 18,028 23,557 21,762 22,155 24,170 24,227 25,424 March 29,438 21,911 20,498 24,496 23,168 23,357 26,881 23,488 24,177 April 23,271 22,434 18,542 28,339 23, 525 22, 711 23,615 21,596 20,477 May 22,978 23,630 18,719 27,292 22,881 22, 591 18,316 23,149 19, 912 June 29,294 23, 519 19,378 26,765 22,343 19, 977 20,436 21, 506 18,042 July 28,111 25,698 18,969 25,927 20,041 20,751 22,900 23,641 17,047 August 27,860 24,763 20,247 21,946 18,063 21,021 17,088 19,064 18,770 September. 30, 948 28,094 19, 962 25,409 21, 718 20,528 20,291 20,474 21,091 October 37,821 27, 573 22,897 27.152 25,337 25,076 23,606 27,023 24,822 November.. 36, 579 31,148 22,000 25.153 19,029 25,] 29 23,941 25,477 23,813 December-. 36,548 33,731 24,448 28,492 27,803 28,145 20, 501 27,491 26,399 Total. 357,096 306, 722 244,629 316,179 269,475 275,440 271,799 284, 914 267,880 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the nationa summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

328 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Hagerstown, Md.* Huntington, W. Va.* Lynchburg, Va.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 11,079 10,498 10,346 26,872 30,907 26,999 25,304 23,820 20,716 February.,. 8,909 8,780 9,550 24,555 24,079 23,592 18,340 17,507 18,174 March 10,292 9,774 10,241 26,769 27,718 26,277 19,690 19,436 19,330 April 12,024 11,987 11,377 24,743 26,210 27,098 22,661 18,831 18,762 May 9,848 9,917 9,747 25,095 25,434 24,994 20,783 18,943 18,922 June 10,688 11,070 10,089 25,906 27,312 25,265 19,903 20,236 18,646 July 11,470 11,567 10,723 26,098 26,826 25,874 22,232 21, 706 19,380 August 10,745 10,531 j 10,377 25,299 23,848 17,462 18,946 18,694 September. 10,386 10,416 I 9,513 25,230 25, L68 24,917 19,264 19,474 18,564 October 11,597 11,743 10,921 26,239 28,349 27,748 21,843 22,393 19,806 November. 10,754 9,940 9,228 26,245 26,740 25,195 20,243 19, 501 18,429 December . 11,885 11, 795 10,078 31,421 32,181 23,726 23,554 22,738 Total 129, 677 128,018 I 122,190 314,472 324,770 313,988 251,451 244,347 232,161 Newport News, Va.* Norfolk, Va. Raleigh, N. C. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 10,267 7,916 7,205 80,781 75,762 77,135 35,406 31,801 33,380 February... 9,275 7,023 6,273 68,280 66,809 65,660 37,154 50,305 28,662 March 9,822 8,083 6,724 78,804 71,157 66,850 21, 933 35,378 29,766- April 9,644 8,030 6,601 78,352 68,502 67,545 14,804 26,198 33,616 May. 9,384 8,438 6,350 74,127 68,928 67,859 16,286 28,825 28,385- June 10,822 9,047 6,777 80,362 68,342 62,588 38,314 33,381 27,261 July 23,065 8,743 7,809 81,577 67,700 71,971 26,354 56,509 26, 93& August 11,344 7,951 6,688 72,087 61,259 60,450 19,808 25,413 26,214 September. 11,044 9,124 6,835 74,002 63,602 56,264 21,776 29,061 24,658 October 11,899 10,377 7,337 84,623 81,932 68,692 25,396 28, 517 26,364 November.. 11,072 9,798 7,348 81,460 78,396 70,828 21,774 26,639 24,105 December . 14,277 11,418 9,206 96,057 92,223 91,926 33,926 33,878 27,628 Total. 141,915 105, 948 85,153 i 950,512864,612 827,768 312,931 405,905 336, 975 Richmond, Va. Roanoke, Va.* Spartanburg, S. C* Month 1926 1925 1924 1926 1925 1924 1926 1925 January 157,057 146,773 135, 525 29,788 27,345 24,147 16, 773 17,201 13,583. February--• 132,347 126,660 125,213 24,477 22,651 22,193 13, 699 14,950 11, 705- March 142,792 134,682 123,887 27, 680 25,169 24,073 15, 516 19,135 12,237 April 129,831 122,179 118,297 28,261 25,107 23,482 16,330 15, 666 13,78a May 122,805 120,248 117, 543 28,913 26,620 24, 658 14,461 14, 538 14, 771 June 128, 759 135,930 117,882 29, 593 26,074 24,790 14,864 13,315 13, 653. July 148,270 129,317 122,740 32,114 27,034 24,581 12, 647 14, 597 11, 783. August 123, 263 134,879 123,365 27, 232 25,276 23,477 11,445 13,035 12,852 September- 146,157 151,311 121,839 28,230 24,850 23,308 13, 224 15,850 13,481 October 161,794 172, 639 136,391 32,510 30,293 29,079 14,267 18,842 18, 694 November- 137, 651 160,815 127, 982 29,669 25, 707 24,753 14,164 15,864 17,806 December. 159, 567 173,987 147, 680 34,982 31,276 31,551 15,656 18, 799 17,858 Total. 1,690,293 ! 1, 709,420 11,518,344 353,449 317,402 300,092 173,046 191, 792 172,206. Washington, D..C* Wilmington, N. C* Winston-Salem, N. C* Month 1926 1925 1926 1925 1924 1926 1925 1924 January 246,245 231,193 200,939 24, 732 21,719 21,441 39, 629 35, 933 32,420 February.. 207,446 198,298 182,073 19,124 20,306 20, 075 37, 658 30, 560 29,161 March 258,072 230,186 195,472 24,197 23,329 21,973 40,884 33,005 31,32$ April 246,302 227,887 203,690 22,830 22,232 21,687 38, 560 33, 737 31,224 May- 247,115 230,350 200,285 20,109 19,021 19,633 38,914 32, 731 30,856- June 266,457 265, 546 217,866 19, 508 17,629 19, 580 38,256 34.060 30,924 July 257,562 242,045 201,803 18,875 17,387 16,796 38,080 33,634 35, 598 August 216,075 207,684 176,159 17,966 16,965 15,795 34, 960 34, 280 29,368 September. 216,851 209,941 180,496 20,897 21,143 16,648 35,410 34,342 34, 748 October 255, 951 244,674 205,057 24,468 26,547 22, 576 45,940 40,846 35,610 November.. 240, 241 234,142 195, 291 20,045 20,962 21, 265 40, 551 36,426 31,24& December . 271, 273 259,274 234,543 22,180 24, 593 24,286 42,445 42, 273 34,114 Total. 2,929,590 2,781,220 2, 393,674 254,931 251,833 241,755 471, 287 421,827 386, 601 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 5 RICHMOND 329 No. 16.—MONET RATES1 IN RICHMOND AND BALTIMORE [Rates prevailing during week ending with 15th of month] RICHMOND Loans secured by Month co l P o m c r a i i n m a m s l e e 2 r- I l b n o a a t n e n k r s - s c t o o l c la k t era e l xchange by L h o o w u a a s n r e s e- C lo a a t n tl s e Demand Time receipts 1926 January 5 -6 5 -6 February 6 March 5 -6 5 April 5 -5} 5 K-6 May 5 -5} 6 5 -6 June 5 -6 5 -6 July 5 -6 5 -6 August 5 5 -6 September October 5 -5H November V December BALTIMORE 1926 January February._ March f/ April 2 May 5 -i June 5 -J July _„ 5 -i August 5 -J '74-0 September. October 5 November _ 5k December., 5 -6 5 -m 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitations to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925, in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. 3 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6—ATLANTA No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31f 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 140,135 87,364 143, 306 93,689 Gold redemption fund with United States Treasury 3,104 5,302 2,492 5,178 Gold held exclusively against Federal reserve notes. 143,239 92, 666 145, 798 98,867 Gold settlement fund with Federal Reserve Board .. 21, 707 20,240 12,963 17, 773 Gold and gold certificates held by bank. 4,311 3,488 8,390 6,466 Total gold reserves 169,257 116,394 167,151 123,106 Reserves other than gold n 9,370 7,031 9,167 4, 980 Total reserves ... _ . 178, 627 123,425 176,318 128 086 Nonreserve cash... 4,476 3,718 4,701 6,128 Bills discounted: Secured by United States Government obligations 1,113 3,707 1,329 10,968 Other bills discounted 35,563 23,721 14,741 44, 774 Total bills discounted 36,676 27,428 16,070 55,742 Bills bought in open market. 23,172 76,732 9,202 12.154 United States Government securities: Bonds 352 2,986 1,564 261 Treasury notes . 1,538 9,773 1,349 92 Certificates of indebtedness 7,005 872 31 Total United States Government securities 1,890 19,764 3,785 384 Other securities.- . 51 Foreign loans on gold 320 264 Total bills and securities 61,738 124,244 29,321 68,331 Uncollected items 30,385 40,982 27,950 23,411 Bank premises ,. _,.. 2,864 2,715 2,780 2,664 All other resources 1,021 1,444 1,775 386 Total resources 279, 111 296,528 242,845 229,006 LIABILITIES Federal reserve notes in actual circulation 165,827 168,966 142,879 140,894 Deposits: Member bank—reserve account 66,742 78,276 62,897 54.697 Government- 2,613 846 3,757 2,561 Foreign bank 1,126 339 81 67 Other deposits _ 932 136 43 246 Total deposits 71,413 79, 597 66,778 57, 571 Deferred availability items 26,847 34,232 19,023 16,117 Capital paid in 5,020 4,656 4,564 4,430 Surplus 9,632 8,700 8,950 8,950 All other liabilities 372 377 651 1,044 Total liabilities _ ., 279,111 296,528 242,845 229,006 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 75.3 49.7 84.1 64.5 Contingent liability on bills purchased for foreign correspondents. 2,258 2,884 1,878 779 330 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6 ATLANTA 331 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Date s T b e t a i o c i n e l u t s l d a r s i l i - Total c U G e u S b r . o r e n S y e v - . - d - O c b d o t i i u h l s l n - e s t r - i b m n B o a o u i r l p g k l e s h e n t t U s S e n t t c i a i e u t t s e e ri s d - l e g F o o i o a o g n l n r d n - s s T c e r o a r e v s t - a e h l s r M b p e a s b o d e e n e e s m r i - k r v ts s - ep T o d o e s t i - a ts l r l e c n a F e s i o t i r r e e i n c t a o r d e u l v n - s - es c a p R e e g e r e n e v r - t - s e ment ed obligations 1926 Jan. 119, 265 32, 846 6,663 26,183 69, 770 16,341 308 133, 798 86,904 88,165 165,830 52.7 13.. 95,340 20, 566 3,910 16, 656 56, 558 17, 929 287 146,062 81,120 82, 425 161, 312 59.9 20.. 92,105 24, 839 5,724 19,115 49,044 17,956 266 153, 83^ 78, 418 82,310 159, 876 63.5 27.. 85, 511 25,497 4,67* 20, 819 42,084 17, 664 266 154, 748 78,420 83,718 159, 484 63.6 Feb. 81, 297 26, 271 4,665 21, 606 38,121 16, 643 262|162, 514 78, 722 85,132158,1,490 66.7 10-. 71, 374 22, 778 3, 44519, 333 32, 677 15, 620 299(174,033 79,381 84, 281159, 542 71.4 2 1 4 7 . I 7 6 0 7 , , 8 1 8 2 0 6 2 25 6 , , 4 4 0 5 1 8 4 7 , , 4 0 3 3 6 5 2 1 2 8 , ,3 0 6 2 6 2 2 2 8 6 , , 4 2 9 6 2 9 1 1 5 5 , , 1 6 6 4 5 3 2 2 8 9 7 1 1 1 1 8 7 0 7 , , 8 6 8 9 8 5 8 7 1 9 , , 8 2 9 0 2 8 8 86 8 , , 1 0 7 8 4 4 1 15 5 9 8 , , 7 5 7 1 2 8 7 7 3 2 . . 6 0 Mar. 70, 923 33,055 7,054 26,001 22, 312 15, 208 348 176, 933 80,234 86, 759 160, 832 71.5 66, 406 30, 336 4,393 25, 943 18,499 17, 219 352 187, 945 84,889 92,850 161,213 74.0 70, 910 43, 301 13, 059 30, 242 14, 851 11, 890 308173,356 81,086 82, 259 160, 309 71.5 77, 532 50,107 15, 751 34, 356 11, 620 14, 925 320 170,161 77, 706 86, 912 160, 522 68.8 31 | 78,328 49, 991 14, 288 35, 703 10, 807 16, 630 340 169,209 73,011 85,044160,147 69.0 Apr. 7 I 76,699 47, 598 10, 507 37, 091 10, 803 17, 386 352 173. 495 75, 213 83,622163,099 70.3 14 I 72,109 40, 864 8,700 32,164 10, 8861 19, 451 348 212, 936 77, 318 84, 449 197,358 75.6 21 ! 73,293 41,439 5,554 35, 885 26, 647 4,299 348198,835 77,089 79,824191,222 73.4 I 66,015 36,195 3,659 32, 536 25, 474| 3,462 3241200, 647 73, 920 75, 528 187,925 76.2 May 5.. 60,992 35,144 3,323 31, 821121,300 3,688 300(205, 260 74,462 75, 900 188, 236 77.7 12.. 57, 689 30, 620 2,638 27, 982J22, 439 3,774 296(208,391 74,007 75, 924 186, 802 79.3 19.. 62,042 33,441 3,556 29, 885!22, 985 4,060 2961203,324 76, 518 78,670185,116 77.1 26.. 65, 512 36, 482 4,582 31,900 23, 550 3,924 296J195,900 71, 650 75, 620 183, 720 75.5 June 2.. 62,078 33, 679 2,415 31, 26422, 795 3,988 356(199,199 73,386 74, 594 184, 578 76.9 9_. 65, 594 35, 232 2, 32, 36524, 919 3,847 336(197,619 73, 604 73, 957 186, 850 75.8 16.. 67, 398 36, 610 2,822 33, 78827. 939 1,849 300 189, 749 062 185,013 74.7 23.. 68,167 41, 825 5,296 36, 52923, 532 1,842 268 192, 929 71, 723 870 184, 756 74.9 30- 65, 723 39,170 2,821 36, 34923, 295 2,338 220 183, 717 66, 510 205179,046 74.6 July 7.. 61,052 37,177 1,838 35, 339!20, 595 2,384 196J202, 871 70, 56J 72, 621186, 849 78.2 1 2 4 1 . . . . 6 7 5 3 , , 0 8 2 23 7 ] 3 4 8 3 , , 6 8 4 5 4 4 2 2, , 1 0 4 2 2 5 3 41 6 , , 7 6 1 1 2 9 1 2 2 4 6 , , 5 4 0 8 6 5 1 1 , , 8 8 4 6 5 8 1 12 2 0 8 (1 18 9 8 4 , , 7 5 7 6 1 6 7 6 0 9 , , 2 9 5 5 0 4 7 72 3 , , 4 5 9 6 3 0 1 1 "8 8 4 5 1! , , 2857 73 5 . . 0 5 28.. 71,9031 43,597 2,215 41, 382|25, 693 1, 861 521188, 657 70, 702 73, 903 183,069 73.4 Aug. 4.. 74, 3361 44, 094 2,725 41, 36927, 649 1,893 181,655 68, 643 69,147 182, 201 72.3 11.. 72, 914 44,102 3,258 40, 84426,145 1,967 |183,125 69, 41" 71,32317'99,,156 73.1 18.. 79, 906 48, 299 4, '""44,101 1,924 173,111 69, 539 71, 512 17'66,, 654 69.8 25.. 77, 840 48, 600 5,338 43, 26226, 545 1,995 173,269 69,400 70,960 174, 568 70.6 Sept. 82, 633 50,166 4,587 45, 579 29,: 1,883 166,547 68, 263 70, 378 173, 357 68.3 80, 938 48, 310 5, 43042, 88029, 988 1,940 167,010 67, 760 68, 365 174, 587 68.7 15 J 86,554||54,815 5, 32549, 49029, 094 1, " '" 1163,306 71, 090 71, 4131172, 945 66.8 22. !93,054 57, 996 8,192 49, 804!32, 521 i 1,837 1161,185 69, 351 77,3621175,975 63.6 29.. 91,402J! 58, 640 5,888 52, 75230, 243 1,819 |165,793 67, 211 76, 707j 173, 678 66.2 Oct. 6.. 89,942;! 55, 283 6,014 49, 26932,140 1,819 1167, 426 70, 291 76,4331177,006! 66.1 13.. 86,080 52, 270 8,181 44,089 31, 261 1,849 |167,438 68, 924 70, 913 175, 905! 67.8 20.. 92,4^ 56,149 6,85649, 293 34, 432 1,898 162,267 72, 674 75,108 174, 762S 64.9 27.. 90,045 53, 350 5,03848, 31234, 829 1, 866 162,815 69, 421 73, 748 172,197| 66.2 Nov. 3_ 86, 206 50, 461 5,04445, 41733, 858 1, (162,967 68, 726 73, 531 171, 666 66.5 10.. 85,045 45, 989 4, 37641, 613 37,1731 1, 1160,911 67, 905 70,032171,382 66.7 17.. 83, 673 47, 762 3,48844, 27434,063; 1,848 (159,157 66, 680 70,179168,7111 66.6 24.. 85, 411 51, 590 5,181 46, 40931, 9631 1,858 1159,643 67, 955 72, 502 166, 405! 66.8 Dec. 1 J 80,439 50,186 5,149 45,037 28, 3841 1,869 (159, 65, 045 69, 781 165, 225j 68.1 8.... 74,306 46,""" 5, 35641,513 25, 552! 1,885 167,472 66,329 69, 478 166,068 71.1 15 ..! 72,455 45, 320 4,28841,032 25, 324 1,811 167,835 69,139 69. 866 165, 454 71.3 22 I 70,017 45,096 2, 95842,138 23,0911 1,830 176,605 65, 962 73,100170,197 72.6 29 67,736 42, 759 2, 87039, 88923, 205| 1,772 175,498 69,036 72,694167,237 73.1 Daily average: 1926... 78,375 42, 626 28, 856! 6,300 166 176, 737 72, 822 76, 583 174, 360 70.4 1925. | 55,679 22, 812 21, 796J 10, 684 387161,138 71, 305 73, 937 144, 846J73.7 1924 _.| 43,705 35,152 6,215! 2,315 152,784 56, 871 59, 801 130, 879!77.7 1923 1 59,596 44, 283 13,145; 2,150 129,022 54,442 57, 218 131, 726168.3 1 Includes Federal intermediate credit bank debentures as follows: $560,000, Mar. 17 to May 12; $1,260,000, May 19 to June 9; $700,000, June 16 to Oct. 13. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

332 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for mem- United ber banks i Bills United States Month p d u is T r a c c o n o h t d u a al n se ts s Total c M o n b l e l o a m a t n t e e b k s r e a r l c R o b u e i d n ll i t s s e - d i m b n o B a o u i r l p g k l e s h e n t t F r b b e o f e o a s r t d u o e h n e g m r e k r v h r s a e t l s i e b n S c m o k t u o u a e a r p g t i t r e t ' e - h i s n e t s b r F s e o e f o e t r s t c d u i o h e e u e g m r e s r v r h r i a - e t l F g l o o o o r a l e n d n i g s 3 n banks 1926 January 85,524 74,068 42,069 31,999 2,549 February 60,426 53,829 34,087 19,742 5,484 L 731 March _ 102,561 87,545 62,128 25,417 4,324 L 10,048 644 April 116,451 73,665 49,496 24,169 6,522 | 16,515 4,752 14,969 28 May 67,191 51, 722 26,389 25,333 10,717 1,956 1,736 1,060 June 77,920 55,651 29,573 26,078 11,835 6,002 4,412 20 July 79,410 60,974 27,267 33,707 6,584 8,335 3,473 44 August 81,677 62,262 34,006 28,256 10,705 765 7,945 September 100,254 79,252 47,049 i32,203 9,998 10,168 October _. 100,989 82,685 44,809 i37,876 7,343 1,295 November 76,952 63,050 33,332 |29,718 9,192 4,310 400 December __. 76,399 65,889 35,793 i30,096 8,035 2,000 475 Total: 1926.._ 1,025,754 810,592 465,998 344,594 99,201 67,334 31,472 14,969 2,186 1925... 764,811 527,946 299,995 227,951 172,856 28,397 20,625 13,391 1,596 1924... 550,312 206,976 343,336 59,621 19,627 874 264 1923... 902,675 728,081 284,717 443,364 94,701 391 72,931 6,500 1 Includes agricultural paper discounted for the Federal intermediate credit bank of Columbia, S. C. For amounts see note below Table 4. 2 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926— June, $2,000,000; and 1923, $54,500,000. 3 Includes Federal intermediate credit bank debentures as follows: March, $560,000; and May, $700,000. * Municipal warrants. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6—ATLANTA 333 No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Num- Month Tennes- Florida b A a l m a- a M sip is p s i i * s- L a o n u a is 1 i- Total' m e N b n e o u d r n m a t o h - t f ' c b d o d e u m a r r t m i e a n d c o g - the month January 9,673 32,027 900 3,478 121 27,719 74,068 493 146 February- 4,194 23,218 527 4,924 200 20,466 53,829 492 140 March _. 31,261 1,723 5,420 964 38,841 87,545 495 203 April 7,438 23, 579 1,426 5,294 1,209 34,519 73,665 492 189 May 7,311 17,340 1,691 3,509 974 20,897 51,722 492 215 June 7,650 17,215 5,670 4,029 863 20,224 55,651 489 223 July-. 7,089 14,313 8,516 6,378 807 23,871 60,974 489 246 August 11,633 14,174 2,356 8,616 1,810 23,673 62,262 489 234 September 14,497 18,118 5,966 12,266 1,734 26,561 79,252 489 208 October 13,086 16,397 5,646 9,994 1,062 35,422 82,685 485 174 November 10,033 14,891 5,322 7,176 1,096 24,132 63,050 481 182 December 11,632 18,989 5,476 5,060 1,527 23,205 65,889 475 165 Total: 1926 112,572 241,522 45,219 76,144 12,367 319,530 810,592 1925 _. 53,667 192,591 2,941 47, 733 4,761 223,498 527,946 1924 117,131 161,060 28,218 8,822 186,142 550,312 1923 106, 771 210,443 70,065 65,377 8,507 266,668 728,081 Number of member banks at end of year:3 1926 90 138 123 475 1925 153 124 495 1924 172 126 516 1923 184 132 535 Number of member banks accommodated during the year: 1926. 121 333 1925 ___. 131 320 1924 156 390 1923 143 351 1 Figures relate only to that part of the State located in the Atlanta district. 2 Includes paper discounted for the Federal intermediate credit bank of Columbia, S. C, as follows: 1926—January, $150,000; February, $300,000; March, $1,000,000; April, $200,000; September, $110,000; October, $1,078,000; and November, $400,000. Total, $3,238,000. 1925, $2,755,000; 1924, $250,000; and 1923, $250,000. 8 Banks in actual operation. Figures-prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

336 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal reserve Transfers for Total Total Transit clearing note clearing Government pay- receipts 1926, week ending- account t F o m e o d e t n e h r t a e s l r F o f e r t d o h e m e r r al N los e s t g N a e in t m P e a n y t - s Receipts m P e a n y t - s ce R i e p - ts m P e a n y t - s ce R i e p - ts r b e a se n r k v s e r b e a se n r k v s e Jan. 6 (5 days).. 76,326 83,100 384 532 500 2,000 77,210 85,632 8,422 13 91,369 101,301 1,060 1,533 500 92,929 102,834 9,905 20... 87,945 95,206 1,178 1,039 89,123 96,245 7,122 27 99, 081 100,135 1,336 1,221 100,417 101,356 939 Feb. 90,092 98,145 783 887 90,875 99, 032 8,157 79, 419 93,516 791 571 2,000 82, 210 94,087 j 11,877 86, 247 90,296 703 940 86,950 91,236 4,286 79,492 82, 870 1,000 80,960 83, 853 2,893 Mar. 3.. 95, 400 93,951 1,356 552 1,000 97, 756 94, 503 3,253 10.. 88, 779 98,563 772 582 89, 551 99,145 9,594 17.. 95, 209 109,676 854 1,317 28,000 124,063 110,993 13, 070 24.. 93,433 97, 757 759 874 8,000 102,192 98,631 3,561 31.. 90,802 92.928 1,038 1,186 2,000 93,840 94,114 274 Apr. 7.. 77,670 86,136 1,379 3,000 82,049 86,944 4,895 14.. 104,872 146,050 544 120 2,000 107,416 146,170 38, 754 21.. 117,167 108, 293 1,091 1,402 7,000 125,258 109,695 15,563 28.. 81, 593 84,299 1,081 1,137 500 500 83.174 85,936 . 2,762 May 5.. 81,353 88,049 1,811 901 83,164 88,950 5,786 12.. 78,957 79, 675 817 1,913 79, 774 81,588 1,814 19.. 92,407 90,839 1,609 252 1,500 95,516 91,091 4,425 26.. 88, 590 80.929 1, 063 1,365 89,653 82,294 7,359 June 2.. 70,325 76,446 1,379 1,992 2,000 73,704 78,438 4,734 9.. 76, 087 75, 465 1,528 583 500 77,615 76, 548 1,067 18.. 89,820 81,695 1,018 1,651 2,000 1,200 92, 838 84,546 8,292 23.. 81, 098 91,212 979 1,014 8,000 90,077 92, 226 ~~2,149 30.. 80,145 76,479 1,625 568 4,000 85, 770 77,047 8,723 July 62, 881 79,109 826 1,790 500 3,500 64,207 84,399 I 20,192 85,193 76,455 1,117 294 86,310 76,749 9,561 89,042 83, 916 929 621 89,971 84,537 I 5,434 77, 744 78, 369 1,540 1,610 1,000 80, 284 79,979 j 305 Aug. 4.. 78,860 74, 646 1,454 317 80,314 74,963 5,351 11. 67,839 68,483 884 1,651 500 69, 223 68,134 1, 089 .18.. 82,163 73, 554 917 768 500 83,580 74,322 9,258 25.. 76,940 79,155 1,014 1,374 2,000 79,954 80,529 Sept. 1. 76,604 70,984 1,571 821 78.175 71,805 6,370 8.. 58, 792 60, 708 563 717 59,355 61,425 2,07( 15.. 79, 715 78,404 1,409 638 3,000 800 84,124 79,842 4,282 22.. 94,252 95, 277 812 663 3,000 98,064 95,940 2,124 29_. 78,174 87, 226 2,043 765 3,000 83, 217 87,991 4,774 Oct. 6.. 83,498 88, 069 1,158 1,162 3,000 87, 656 89,231 1,57£ 13.. 81,664 86,531 911 1,065 5,000 87,575 87,596 2] 20.. 102,404 99, 768 864 883 2,000 105,268 100,651 4,617 27.. 87,381 88,560 1,365 1,201 1,000 89,746 89, 761 Nov. 3.. 72,290 72,397 729 428 73,019 72,825 194 10.. 86,492 88,433 1,240 447 2,500 90,232 1,352 17.. 79,550 79, 769 941 620 1,000 81, 491 1,102 24.. 87,429 88,138 841 1,449 88,270 89, 587 Dec. 70,143 72,880 978 211 2,000 73,121 73,091 30 70,791 79,540 953 800 71, 744 80,340 8,591 15 78,204 83,815 619 1,226 5,000 83,823 85,041 1,211 22 100,697 1,056 1,039 3,000 90,025 101, 736 11, 71: 29 72,061 74,682 634 395 5,000 77, 695 75,077 2,618 31 (2 days).. 29,832 33,549 49 285 1,000 30,881 33,834 Total: 1926 4,369,5854,544,125 54,823 49,163 117,000 8,500 4,541,408 4,601,788 60,381 1925. 78,000 13,500 4,344,340 4,313,16831,172 1924. 53,500 10,000 3,338,993 3,395,868 56,87J 1923 46,500 23,500 3,084,967 3,088,625 3,65! Net gain in ownership of gold since establishment of fund in 1915, $218,623,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] ATLANTA DISTRICT Loans and investments Call date"" Total a c L n o d u o n a d n t i s s s 1 - Inv G e U o s v t . m S er . e n n - ts Other b f D a ro n u m k e s C a d s p n u i a r v r d o p p i f d i u l i t e u t a n s d s l - , To p t o a s l i t d s e- d D e e p m os a i n ts d 2 de T p im os e itsd U S e n p ta o i t t s e e i s d ts D ba u n e k t s o d N e m p e a o t n s d i d e ts - 3 m m t G N i a p e m o n e n o v t e d s t e i d d a t p r s e n n e l - u - - d sR r F e b e w e s s d a e e i e n r t r v r h v k a e e l p a c a n B o d y d u i i a l s n l b r - s t e l s - e r b N b e a e i p u n n r o m g k r o t s - f - Total ment securisecuri- ties ties 1921 Dec. 31 851,583 685,317 166,266 100,213 66,053 84,367 157,632 754,642 416,463 246,313 9,445 82,421 418,535 674,293 44,357 122,304 512 1922 Mar. 10.. __ 809,202 657,273 151,929 88,538 63,391 91,177 162,347 775,910 417,234 247,524 10,749 100,403 435,241 693,514 45,210 60,709 520 June 30 808,223 654,457 153,766 91,273 62,493 93,224 163,580 802,787 434,100 264,680 6,114 97,893 448,065 718,859 45,301 38,285 530 Dec. 29 884,778 715,494 169,284 100,957 68,327 115,426 168,360 926,289 498,754 281,241 13,395 132,899 518,840 813,476 55,669 40,921 536 1923 Apr. 3 908,539 730,923 177,616 107,753 69,863 119,606 169,795 963,247 505,001 306,252 14,606 137,388 527,268 848,126 57,037 28,435 533 June 30. 921,475 737,877 183,598 107,642 75,956 96,574 170,178 925,362 485,236 317, 947 13,421 108,758 503, 640 835,008 53,814 44,110 530 Sept. 14 925,778 740,175 185,603 106,610 78,993 91,633 173,278 901,011 476,203 316,151 8,432 100,225 485,164 809,747 51,438 70,095 528 Dec. 31. 985,105 797,743 187,362 104,120 83,242 120,703 168,988 1,013,128 541,758 323,934 13,421 134,015 552,594 889,949 55,029 68,542 525 1924 Mar. 31 969, 853 787,053 182,800 97,558 85,242 106,991 173, 570 979,399 512,007 334,010 8,964 124,418 529,693 872,667 55,143 62,146 519 June 30 937,448 764,403 173,045 83,155 89,890 116,989 175,148 964,421 489,244 353, 746 7,113 114,318 500,164 861,023 56,482 46,505 518 Oct. 10 956, 785 780, 262 176,523 82,837 93,686 144,634 177,989 1,020,984 512,486 353,174 11,001 144,323 530,406 894,581 57,512 40,566 515 Dec. 31 , 000,430 816,049 184,381 81,419 102,962 161,860 172,972 1,125,138 585, 643 359,373 7,904 172,218 607,047 974,324 63,489 29,779 510 1925 Apr. 6 L, 061,158 862,235 198,923 92,304 106, 619 186,971 178,380 1,204,775 603,761 382,108 18,188 200, 718 642,364 1,042,660 68,983 27,244 505 June 30 L, 084,669 877,611 207,058 92,967 114,091 168, 938 178,489 1, 207,982 617,362 398,360 11,584 180,676 649, 749 1,059,693 70,528 31,445 501 Sept. 28 L, 201,129 963, 281 237, 848 108,315 129,533 215,141 180, 729 1,371,128 700, 947 407,425 18,521 244,235 755,631 1,181,577 77,372 37,637 500 Dec. 31 L, 250,457 1,000,459 249, 998 108,235 141,763 210,957 177,718 1,447,913 777, 877 425,613 16,176 228,247 808,897 1,250,686 79,311 37,332 495 1926 Apr. 12 1,241,111 992,418 248, 693 109,802 138, 891 172,755 188, 245 1, 356,277 714,997 432, 954 20, 542 187,784 748,509 1,202,005 77,529 55,068 492 June 30 _ L, 172,806 939, 583 233,223 95,441 137,782 154,822 188,184 1,266,375 651,812 443,009 12,751 158,803 667,597 1,123,357 67,406 50,478 488 Dec. 31 L, 162,622 931,441 231,181 87,187 143,994 161,285 187,212 1,266,209 645,491 431,328 15,471 173,919 660, 953 1,107, 752 68,292 56,990 475 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued 00 CO [Amounts in thousands of dollars] 00 CITY OF ATLANTA Loans and investments Net Call date Total a c L n ou d o n a d n ts i s s l - Total Inv G e m U o s v t . e m e n S r t e n . n - ts s O ec th u e ri r - b f D a ro n u m k e s s C a d p u n i a r v r d o p p i f i d l u i t u e t a n s s d l - , , de T p o o t s a i l ts D de e p m os a i n ts d 2 de T p i o m s e its U S po n t d a s i e t t i - e e ts s d D ba u n e k t s o d d e e p N m o e a s t i n t d s3 m d d G e e e t o p p n m i v m l o t u e a s e s r a n i n t n d s - d R F re b w e e s a s d e i e n e t r r h k v r v a e e l p c r a B o e a y u d n i a l n i d l b s s t - l s e r b N b e a p i e u n n r o m g k r o t s - f securi- ties ties 1925 Dec. 31 99,793 80,065 19,728 11,192 8,536 15,789 19,169 115,189 54,385 27,641 2,995 30,168 61,890 92,526 5,764 4,969 6 1926 Apr. 12 103,669 79,384 24,285 12,398 11,887 13,348 19,919 111,908 55,731 27,900 4,847 23,430 62,285 95,032 7,066 7,842 6 June 30 97,850 75,332 22,518 11,156 11,362 11,074 19,821 104,071 51,600 29,211 3,013 20,247 56,779 89,003 4,514 3,231 6 Dec. 31 98, 851 77,274 21,577 9,307 12,270 12,239 19,921 110,311 53,510 29,888 3,055 23, 858 58, 553 91,496 5,335 1,146 6 CITY OF BIRMINGHAM 1925 Dec.31.._ 66,025 56,015 10,010 3, 294 6,716 I 8,783 9,366 80,173 45, 699 24, 234 48 10,192 45,261 69,543 5,697 1926 Apr. 12..- 65, 877 56, 766 9,111 3,274 5,837 8,606 9,624 77,434 45,243 24,351 239 7,601 44,826 69,416 5,658 June30_._ 65,500 56,056 9,444 3,331 6,113 6,990 10,602 72, 551 40,979 26,091 195 5,286 41,062 67,348 4,733 550 Dec. 31.... 70,301 59,832 10,469 3,846 6,623 9,456 10, 749 81,524 46,460 25,614 240 9,210 45,655 71,509 5,583 653 CITY OF JACKSONVILLE 1925 Dec. 31.... 18,468 50, 516 36,914 790 38, 505 55,922 93,626 7,495 932 1926 Apr. 12.... 51,339 31,028 1,534 33,176 67,429 99, 991 6,992 June 30..... 44,928 34,635 945 26,404 45,867 81,447 5,756 477 Dec. 31—. 37, 559 36,196 375 23,346 41,505 78,076 5,354 229 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF NASHVILLE 1925 Dec. 31... 42,892 6,006 3,504 2,502 3,875 7,322 49,901 21,401 16,054 12,446 24,999 41,053 2,007 2,100 1926 Apr. 12... 49,743 43,106 6,637 3,620 3,017 3,959 7,340 49, 999 21,992 16,190 11, 749 25,499 41, 757 2,551 2,880 June 30.. 48,105 42, 750 5,355 2,913 2,442 4,555 7,383 48,319 22,281 15,980 10,018 23,774 39,794 2,825 4,078 Dec. 31.. 48,631 43,524 5,107 2,915 2,192 5,489 7,523 48,029 21,082 17,217 9,675 20,923 38,195 2,561 5,921 CITY OF NEW ORLEANS 1925 Dec. 31 _ 212,082 179,833 32,249 10,933 21,316 23,704 25,550 239,002 124,242 59, 916 7,104 47, 740 132, 757 199, 777 11,463 14,814 1926 Apr. 12 205,332 173,870 31,462 12,395 19,067 19,987 26,995 215, 726 108,475 58, 574 8,755 39,922 116,439 183,768 14,397 23,523 June 30 __ 192,266 160,370 31,896 10,276 21,620 17,637 26,583 210,782 108, 202 60,281 5,172 37,127 114,828 180,281 10, 558 14,360 Dec. 31 205, 756 175,609 30,147 4,606 25,541 19,918 26,564 220,113 114,287 57,097 6,454 42,275 120,273 183,824 11,255 24,769 CITY OF SAVANNAH . I 1925 Dec. 31... 62,630 59, 589 3,041 152 2,889 9,442 8,699 74,481 32,480 23,478 18, 523 58,294 4,188 4,254 1926 Apr. 12... 62,822 60,271 2,551 168 2,383 10,730 9,125 76,431 33,649 26,185 16, 571 59,537 3,665 3,073 June 30.. 59, 736 57,198 2,538 75 2,463 8,480 9,008 70, 783 30, 761 27,092 12,904 57,844 3,747 1,844 Dec. 31... 60,096 57,294 2,802 223 2,579 8,584 8,651 73,719 32,326 25,132 16,219 59,826 4,094 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. 00 CO CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

340 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (495 1926 (492 1926 (488 1926 (475 banks) banks) banks) banks) RESOURCES Loans and discounts 997,976 990,232 937,737 929, 696 Overdrafts _ 2,483 2,186 1,846 1,745 United States Government securities 108,235 109,802 95,441 87,187 Other bonds, stocks, and securities 141,763 138,891 137,782 143,994 Total loans and investments 1,350,457 1,241, 111 1,173,806 1,162,622 Customers' liability on account of acceptances 12,460 8,974 5,355 15,376 Banking house, furniture, and fixtures _ 49,014 50,371 50,984 52,634 Other real estate owned 10,817 11,246 11,334 12,115 Cash in vault _ 33,429 27,969 31,099 27,958 Reserve with Federal reserve bank. 79,311 77,529 67,406 68,292 Items with Federal reserve banks in process of collection. 34,003 30,869 27,345 31,722 Due from banks, bankers, and trust companies 210,957 172,755 154,822 161, 285 Exchanges for clearing house and checks on other banks in same place _ 33,865 26,534 22,373 27, 997 Outside checks and other cash items 6,706 5,316 6,105 7,118 Redemption fund and due from United States Treasurer 2,013 2,007 1,983 2,007 United States securities borrowed 1 265 2,205 3,866 4,142 Other securities borrowed 1 68 90 1,320 1,415 Other assets 7,594 9,613 7,950 Total 1,730,959 1,666,165 1, 566,411 1, 582, 633 LIABILITIES Capital stock paid in 95,389 98,705 98,970 99, 735 Surplus fund _ _. 62,630 64,794 65,626 65,448 Undivided profits, less expenses and taxes paid 19,699 24,746 23,588 22,029 Reserved for taxes, interest, etc., accrued.. 3,284 4,400 4,501 3,332 Due to Federal reserve banks 2,132 2,083 2,214 2,437 Due to banks, bankers, and trust companies _.. 226,115 185,701 156, 589 171,482 Certified and cashiers' or treasurers' checks outstanding. 19,657 12,069 11,281 13,295 Demand deposits .* 758,220 702,928 640,531 632,196 Time deposits 425,613 432,954 443,009 431,328 United States deposits.__ _ 16,176 20, 542 12,751 15,471 Total deposits _. _... 1,447,913 1,356,377 Agreements to repurchase United States Government 1,366,375 1,366,309 or other securities sold 132 Bills payable (including all obligations representing 113 17 money borrowed, other than rediscounts) 15,524 21,872 Notes and bills rediscounted (including acceptances of 15,982 20,417 other banks and foreign bills of exchange or drafts sold with indorsement) 21,808 33,196 I 34,496 36, 573 Letters of credit and travelers' checks sold for cash and outstanding.. 52 46 20 Acceptances executed for customers _ 17,695 13,302 7,283 19,298 Acceptances executed by other banks for account of reporting banks 220 1,046 323 231 National-bank notes outstanding 39,458 39,260 39, 277 39,479 United States securities borrowed 2,363 3,855 3,866 4,142 Other securities borrowed.._ 1,386 1,411 1,320 1,415 Other liabilities _ 3,478 3,123 4,593 4,288 Total 1,730,959 1,666,165 1,566,411 1,582,633 1 Exclusive of securities borrowed by national banks prior to June 30, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6—ATLANTA 341 NO. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and townshaving Banks in cities and towns having Date a population of— a population of— Total Total Less 5,000 15,000 100,000 Less 5,000 15,000 100,000 than to to and than to to and 5,000 14,999 99,999 over 5,000 14,999 99,999 over 1923 Apr. 25 502,839 74,549 63, 675 162,266 202,349 305,813 46,932 43,090 115, 841 99,950 May 23 , ... 502,391 75,660 62,541 160,764 203,426 308,513 49,118 43,503 111, 763 104,129 June 27 488, 298 69,321 60,942 155,463 202,572 318,831 48,271 44, 517 117,494 108, 549 July 25 479,761 67,972 58,796 153, 561 199,432 321,102 48, 575 45,844 118, 756 107,927 Aug. 29 . - 464, 608 64,426 56,295 149,248 194,639 319,075 48,162 44,451 119,091 107,371 Sept. 26 463,873 67,838 57, 227 147,857 190,951 320,703 48,301 45, 111 119,058 108,233 Oct. 24 473,419 69, 739 59,220 150,349 194, 111 322,869 47,803 46,171 121,525 107,370 Nov. 28 493,789 78,011 62,823 152,801 200,154 323,247 49,468 46,747 119,400 107, 632 Dec. 26 508,481 79, 598 64,743 160, 589 203,551 323, 279 49,682 44,061 122,098 107,438 1924 Jan 23 519, 276 76,392 69,071 164,467 209,346 318, 538 50,480 44,690 118,189 105,179 Feb. 27_ - 517,520 74, 732 67,481 166,203 209,104 324,089 51,922 45,444 119,765 106,958 Mar. 26 503,475 72,440 65,977 166,265 198,793 335,050 51,815 46,101 128,770 108,364 Apr. 23 507,849 70,452 65,142 168,654 203, 601 342,430 52, 511 46,607 130,230 113,082 May 28. 486,031 67,013 62, 530 160,800 195,688 346,620 53,082 47,748 129, 714 116,076 June 25_ 477,319 63,999 59,322 159,119 194,879 347,419 52,214 47,839 131,791 115,575 July 23 472,523 61,211 57,435 159,133 194, 744 350,271 53,373 47,924 133,772 115,202 Aug. 27 - 483,981 62,714 58,295 163,074 199,898 352,396 54,239 48,046 136, 794 113,317 Sept. 24 496,371 68,164 61,439 158,756 208, 012 351,089 53,906 49,468 132,973 114,742 Oct 29 516,106 71,743 64,696 160,229 219,438 350,041 54,188 50, 622 129,239 115 992 Nov. 26 540,472 73,867 68,664 166,987 230,954 350,961 53,760 51,442 129,210 116, 549 Dec. 24 561,575 77,488 72,826 174, 597 236, 664 348,636 53, 740 51,075 128,876 114,945 1925 Jan. 28. 585,609 81,038 77,465 194,089 233,017 356,070 55, 571 53,976 131,915 114,608 Feb. 25 613,945 83, H6 79,545 208,181 243,073 374,021 55,881 55,381 143,369 119,390 Mar. 25 616,226 87,270 81, 539 215,769 231,648 386,835 56,765 58,454 150,167 121,449 Apr. 22__ 620,420 84,902 79,149 229,410 226,959 388,125 57,476 58,845 148,823 122,981 May 27 646,362 80,389 76,621 256, 582 232,770 407,256 56,492 59,449 162,822 128,493 June 24 - 621,453 79,123 75,614 242,952 223, 764 393,981 56,008 60,181 154,088 123, 704 July 29 ... 635,930 80, 797 75, 875 261,396 217,862 403,184 57,398 60,379 165,443 119,964 Aug. 26 641,320 89,934 79,492 252,583 219,311 388, 588 57,466 60,862 150,040 120,220 Sept. 23 734,046 106,817 87, 698 302, 614 236,917 414,260 58,240 62,871 168,149 125,000 Oct. 28 762,792 112, 588 95,903 310,064 244,237 428,449 59, 217 63, 673 175,954 129,605 Nov. 25 769,608 110, 597 101,945 311,026 246,040 431,355 59,379 64,540 177, 579 129,857 Dec. 23 767,989 111,175 105,128 309,403 242,283 443,793 58,972 64,580 178,412 141,829 1926 Jan. 27 760, 379 108,319 107, 085 298,227 246,748 438,920 60,494 66, 753 178,934 132,739 Feb. 24 756,985 108,184 107, 530 294, 500 246,771 446, 715 61,762 67,882 186,341 130,730 Mar. 24 726,842 106,114 101,796 282, 532 236,400 441,056 63,740 67,364 178,992 130,960 Apr. 28_ 697,133 98,993 96,019 267,814 234, 307 446,396 63, 510 67,537 179,317 136,032 May 26 667,815 91,437 91,094 254,677 230, 607 445, 788 64,442 67,427 178,987 134V932 June 23 649,584 86,489 85, 968 252,501 224,626 443, 594 65,257 67,058 177,878 133,401 July 28 639, 591 82,131 81,609 248,935 226,916 440, 615 64,198 66,649 175,926 133,842 Aug. 25 632,909 81,920 82,073 242,752 226,164 443,725 64,679 67,802 176,866 134,378 Sept. 22 633, 564 86,117 82,037 242,859 222, 551 438,738 62,978 67,604 176,761 131,395 Oct. 27 634,693 85,652 82,947 233,124 232,970 446,686 62,443 67,446 180,348 136,449 Nov. 24 619,409 83,931 80,115 227,011 228,352 438,476 61,011 66,875 176,323 134,267 Dec. 29 631,243 86,210 83,698 227,075 234,260 437,329 61, 306 66,777 175,418 133,828 38494^-27- -23 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

342 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 1£.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Gov- Loans and investments ernment deposits Bor- Re- rowserves ings Date (Wednesday) Loans w Fe i d th - f F r e o d m - Total Total r s i e O t c i n e u s - o A th l e l r I m nv e e n s t t s - Total m N d a e e n - t d Time m G er o e n v n - - t e s b r e a a r n l v k r e e-e s b r e a a r n l v k r e e- Weekly averages: 1922 L36,347365,720 65,511300,209 70,627 403, !46,884 150,286 5,981 30,361 10,476 1923 196,902413,648 70,829342,819 83,254 155,334274, 651 173, 702 6,981 33,193 21, 418 1 1 9 9 2 2 4 5 ___H 5 5 0 7 3 2 , ,7 2 1 4 5 84 4 2 8 7 7 , , 1 8 0 5 0 4 7 9 3 4, , , 4 1 2 6 2 3 3 3 5 9 3 3 , , 6 6 7 9 8 1 7 8 6 4 , , 1 8 4 6 8 1 1 5 7 4 3 8 , , 2 6 7 0 8 8 2 3 8 3 1 8 , , 9 9 9 5 5 8 2 1 0 8 3 4 , , 0 9 3 2 5 0 6 6, , 6 3 1 6 5 3 3 4 5 1, , 4 3 8 1 1 8 1 1 5 1 , , 1 6 8 2 4 4 1926 515,426 U5,667 109,283 406\ ,384 99,759 "6,573 346,406 221, 064 9,103 41, 20823,698 1926 Jan. 625,591526,171 103, 542 :22, 62999,420501,172 170,490219,923 10, 759 48, 59824, 720 13. 621,165523,953 103,505420,448 97,212502,436 174,896217, 534 10,006 43,652 13,935 20. 620, 013523,290 103, 778419, 512 96,723598,594 369,220219,368 10,006 42,444 17,844 27. 119,291522,5361103,551418,985 "1,755587,989 560,332218, 256 9,401 41,286 18,459 Feb. 3 117, 760521,791104,731 U7, 060 95,969591,614 365,051216, 55: 10,006 42,851 18, 584 10 ... 522,358526,708 105, 598[21,110 95, 650595, 784368,312221177,44666 10,006 42,635 13,908 17 619,320523,998106.325 U7,673 95,322594,655 369,085 215; 564 10,006 44, 619 18,355 24 615,472521,2991103,981 117,318 94,173589,995362,876 217,,1 "1 "3' 10,006 43, 532 17,532 Mar. 3. 619,784524,567! 105,958418,609 95,217588,146 361,143 217,160 9,843 43,825 23,593 10. 618,047524,742|1O6,455418, 287 93,305 559933,, 549 367, 018 216, 525 10,006 48,663 19,816 17. 640,294529,339110,392 •18,947110,955 603,316 367,242 217,249 18,825 45, 07930,901 24. 638,182527,405107,341420,064 10, 77 587, 580 354,993 217,938 14,649 42,980 37,464 31. 638,351527,421107,363420, 058 10,930176,986 149, 777 212,560 14, 649 37,436 35,491 Ap, 6 6 3 2 1 5 , , 6 6 8 4 6 7 5 5 2 2 5 3 , , 7 5 8 1 9 9 1 1 1 1 2 4 , , 9 5 5 4 7 3 4 4 1 0 2 8 , , 8 9 3 7 2 6 L L 0 0 5 2 , , 8 1 9 2 7 8 5 5 8 9 2 4 , ,4 8 1 5 3 83 3 4 6 9 0 , , 9 1 1 8 9 2 2 2 1 1 9 8 , , 4 7 8 7 3 8 1 1 4 4 , , 4 4 5 5 6 3 4 43 1 , , 6 0 9 1 6 1 3 27 3 , , 1 2 0 5 8 9 21. 619,182519,233 111, 281407,952 99,949582,312 150,511219,900 11,901 43, 59725,939 612,461511, 677 104,392407,285 100, 784579,492 346, 6113221,874 11,005 41,369 20,264 May 5.. 611,999511,355110,192 401,163 .00, 644582, 551 350,001221,151 11,399 41,733 18,894 12. 611, 565513,497108,185 405,312 98; 068 589, 200357,867220,492 10,841 44,829 12,812 19. 603,493505,228LO6, 671398,557 1,265579,053 349,440033 220, 203 9,447 45,236 18,093 26. 604,063506,390 1"016,,45-399,936 97, 673571, 596 342,448 220>,,07r 9,076 40,917 19,488 June 2. 604,403 506,640105,968 400,67! 97,763577, 287346,384 221,767 9,136 42,896 16, 795 9. 602,002 505,567 107, 784 397', ," '78396, 435575,963 345,626" 222211,,201 9,136 42,273 17,742 16. 603,745 506,654 111,16C395,494 97,09"576,117 346,012 220.,969 9,136 37,829 18,993 23. 598,469 501,,098 99,84*401,253 97,37 567,464 338,228 2201,,100 9,136 42,396 22,518 30. 595,426 494,862108,353386,509 00; 564 565,0753301396 226,611 8,068 35,824 19,275 July 7. 594,491 497,074 110,973386,101 97,417569,185 337,708 223,936 7,54 40,285 15,461 14. 594,938 497,095 109,646 3—8,7i449 97,843572,134 343,518 221,883 6,733 41,280 16,232 21. 498, 793 110, 524 388,26997, 76r 564, 704335,953 221,743 7,008 39,325 20,098 28. i9,773502,141113,67: 388,469 97,635566,804 337,931221,867 7,006 37, 725 17,190 Aug. 4 601,221 502,36b 114,061 388,303 98,858568,532 339,103 222,423 7,006 39,034 18.960 11 602,001502,055113,406 388,64999,94i 571,30r 342, 798 222,385 6,119 40,200 20,381 18. 603,251 503,042113,872389,170 00,206565,334 836 221,965 5,533 40,125 23,824 25. 604,076 503,513114,898388, 615100, 563562,756 301 222,265 4,190 40,145 Sept. 1- 606,163 505,991107,955 398,038 00,175561,995 335, 515 222,290 4,19C 39, 76824,143 8 609,467 510,0701108,67; 401,398 99,397565,392 338,210 222!,,992 4,19i 38,582 22,533 618,049 511,425110,782400,643106,6£ 573,173343,003 2201,,938 9,232 40,942 29,844 22_. 618,915 513,650 112., 636,4 01.,01'105,265 555,657331,574 214,890 9,193 41,800 33,559 29.. 630,14 524,316112,903 411,413105, 8251564, 565330,194 221,211 13,16C 37, 62834,144 Oct. 6_. 632,201 529,611 111, 883 417, 728 102,595078,563 345,428 2191,,975 13,16C 41,546 33,608 13.. 632,207 527,408 108,664 418, 744 104,7 9-9 584, 612340,106 232\, 6611511,"" 39,302 31,287 20.. 630,531 526,203 109,594.|416,609 104,328 574,951342,664 224,,198 8,08! 41,852 35,914 27_. 625,811 524,360 108,311 416,049 101,451568,889 338,357 223,690 6,84: 39,946 31,182 Nov. 3_. 622, 562 |522, 602 107, 756 414,84' 960 568,193336,086 225,266 6,841 39,492 28,566 10.. 617,989! 519,5771108, 773 410,804 412 566,374335,604 225,104 5,666 39,557 24,627 17_ 616,88711519,543 109, 783 409, 760 97,344 563,934336,302 223,573 4,059 38, 504 27,013 24_ 618,403 j 1520,344 110,504 409,84C98,059 555,433327,285 224,31' 3,832 39,164 29,998 Dec. 1.. 616,6411519,626 109,023 410,601 97,015 557,982 329,283 224,867 3,832 37,196 25,521 8. 618, 587 |521, 624 113,806|407,818 96, 963 560,582 332,868i224,0803,634 39,0441 26,592 15- 622,811 523,992 117,408:406,584 98,819 574,667 340,666J224,20r 9,793 40,207i 25,882 22 _ 614,025!'516,603 116,274 400,329 97,422 563, 651 330,8261223,03: 9,793 39,305i 25,636 29. 614,650 1516,910 116,600 400,31 97, 740 567,276 334,007 223, 77i 9,493 39,6741 24,430 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrow- Month with ings from Loans Federal Federal Invest- Net de- reserve reserve Total ments Total mand bank bank Total On s t e i c e u s ri- All other CQ 1922 January 434, 481 368, 219 68,230 299,989 66, 262 372, 403 223, 592 143,287 i 5, 524 27,824 33,164 3 February 423,015 353, 771 67,312 286,459 69, 244 380,407 226, 746 143,104 I 10, 557 18686 O March 418, 483 353, 538 65,630 287,908 64, 945 381,144 231, 855 142,636 6,653 29,133 10,101 April. _ 415, 774 352, 263 65, 515 286, 748 63,511 384, 432 235, 570 144,564 I 4,298 28,520 7,970 i May _ 415, 496 351,454 65, 608 285, 846 64,042 390,112 239, 619 146,541 ! 3,952 29, 569 3,708 June... 422,014 352, 760 64,070 288, 690 69, 254 400,307 244, 865 149, 485 5, 957 31,018 3,181 July 423,135 353,009 66,124 70,126 401, 744 247, 292 151,153 3,299 30, 826 4,097 August 432,342 356,869 66, 202 290, 667 75, 473 407, 898 248, 578 153, 733 5,587 28,934 3, 721 September.. 438, 778 363, 753 63,490 300, 263 75, 025 412,007 253, 886 153, 365 4,756 30,835 6,976 October 457,087 384,025 64, 875 319,150 73, 062 424, 459 262,212 155, 668 6,579 31,887 10,930 November... 475, 472 399,083 65,074 334,009 76, 389 437,062 271, 842 159,050 6,170 33, 623 14, 205 December 480, 984 400,379 63, 885 336. 494 80, 605 444, 940 275, 466 160, 640 8,834 33,235 11,526 1923 2 January 479, 897 401,191 65, 270 335, 921 78, 706 455, 582 287, 878 161, 944 5,760 35,033 , 8,185 February 481,048 403, 506 68, 564 334, 942 77, 542 455, 679 288, 755 164,215 2,709 34,450 ' 4,519 March 487, 799 407, 227 68, 456 338, 771 80, 572 458,139 285, 324 166, 410 6,405 33, 527 4,878 April... 489,065 406, 593 68, 875 ' 337, 718 82, 472 456, 617 277, 851 168, 563 10,203 32, 981 7,967 May 489,176 406,077 70, 785 335, 292 83,099 4.56, 850 277, 229 169, 978 9,643 33,316 11,116 June... 492, 233 407,158 70, 953 336, 205 85,075 463, 270 277,191 177, 985 8,094 34, 646 12,900 July 487,105 402, 939 70, 555 332, 384 84,166 457, 847 272, 368 177, 360 8,119 33,191 17,204 August 484, 290 399, 883 70, 407 329, 476 84, 407 452, 540 268,019 178,072 6,449 31, 737 15,403 September.. 495, 918 409,359 72, 652 336, 707 86, 559 448, 892 261,463 179,320 8,109 32, 325 27,385 October 515, 243 429, 672 75,016 354, 656 85, 571 448,407 260, 642 179, 873 7,892 31, 796 47, 329 November , 531, 485 447,063 74,071 372, 992 84, 422 453, 218 268,363 181, 256 3,599 31, 734 51,478 Pb 534, 309 447, 544 74,800 372,744 86, 765 458, 945 271,932 180, 678 6,335 33, 803 49,504 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrowings Month Loans Fe w d i e th ral F f e r d o e m ral Total On securi- I m nv e e n s t t s - Total N m et a n d d e- Time G m ov e e n r t n- re b s a e n r k ve re b s a e n r k ve I Total All other ties 1924 January... 521, 640 436, 824 73,827 362, 997 84,816 467,925 282,128 177, 656 8,141 34,635 31,313 February _ 507, 647 428, 447 74,336 354, 111 79, 200 466,706 282, 646 177,192 6,868 34, 578 20,831 March 505,023 425,418 76,199 349, 219 79,605 464, 362 278, 360 178,194 7,808 34,176 24, 654 April 427,723 78,685 349,038 81,106 466, 286 276, 860 181, 264 8,162 33, 981 24,131 W May 501, 694 423,926 346, 928 77, 768 460, 946 271, 846 183, 988 5,112 33,138 18, 645 June 494,137 419, 367 74,443 344, 924 74, 770 459,121 268,462 186, 077 4,582 34, 715 16,017 July 479, 758 409,387 74,042 335, 345 70, 371 460, 924 266, 943 188, 535 5,446 33, 252 8,215 August- 479, 523 407,966 70,157 337, 809 71, 557 467, 660 275,364 187,103 5,193 34, 507 7,028 September . 488,150 416,207 68, 820 347,387 71, 943 474, 503 280, 570 187,401 6,532 37,362 6,415 October 502, 585 429,476 69,423 360,053 73,109 485, 709 189,034 7,745 37, 493 8,096 November. 514,039 440,036 70,162 369, 874 74, 003 496, 422 299, 524 191,130 5,768 37,900 7,444 December.. 529,441 454,749 73,396 381,353 74, 692 504,117 308, 864 190,794 4,459 37,904 8,368 1925 January- - 523, 545 449,386 78,068 371, 318 74,159 508,843 316,006 188,936 3,901 40,123 6,308 February _ 529,279 456,800 80,469 376, 331 72,479 514,712 320,685 190,896 3,131 39, 731 3,168 March 542,142 466,086 83,359 382, 727 76,056 524,322 322,333 194,102 7,887 40,120 7,975 April 550,984 472,142 85,342 386,800 78,842 530, 575 322,490 197,008 11,077 39,344 8,925 w May 555,325 471, 471 91,418 380,053 83,854 537,703 328, 664 201,702 7,337 39,425 6,154 o June 551,616 468, 546 94,019 374, 527 83,070 535,430 328, 568 200,153 6,709 40,999 7,718 July 554,197 470, 827 97,051 373, 776 83, 370 535, 590 325,898 203,612 6,080 38, 578 7,143 August- 569, 745 483,430 99,716 383, 714 86,315 548,545 340,345 204,040 4,160 42,152 13, 625 September. 606, 847 512,923 103,628 409, 295 93,924 568,204 355,026 205,171 8,007 43, 976 17,835 October 624,706 530,670 105,993 424, 677 94,036 588, 793 369,657 211, 742 7,394 43,183 18,311 November. 532,882 106,875 426,007 93,406 592, 337 371,649 217,107 3,581 46,227 18, 379 December.. 626,113 530,390 101,352 429,038 95, 723 590, 601 363,422 218,827 8,352 43,932 I 21,675 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1926 January.. 621,516 103, 594 420, 394 97, 528 597, 547 368, 734 218, 770 10,043 43,995 18, 740 February 618,728 523,449 105,159 418,290 95,279 593,012 366,331 216, 675 10,006 43,409 17,095 March 630,932 526,695 107, 502 419,193 104, 237 589,913 360,034 216, 287 13, 592 43, 597 29,453 ApriL. ... 622,244 520,054 110, 793 409,261 102,190 584, 769 351,806 220,009 12, 954 42,418 May 607,780 509,117 107,875 401,242 580, 600 349, 930 220,479 10,191 43,179 17,322 June 600,809 502,964 106,622 396,342 97,845 572,381 341,329 222,130 8,922 40,243 19,065 July 596,440 498, 776 111,204 387,572 97,664 568, 207 338, 778 222,357 7,072 39,654 17,245 August 602,637 502,743 114,059 99,894 566,980 339,009 222,259 5,712 39,876 21, 758 September 616,547 513,090 110, 589 402, 501 103,457 564,156 335, 699 220,464 7,993 39,744 28,844 October 526,896 109,613 417,283 103,292 576,754 341, 638 225,120 9,996 40,662 November 618,961 520, 517 109, 204 411, 313 98,444 563,484 333,819 224, 565 5,100 39,179 27, 551 December 617,342 519, 750 114, 622 405,128 97, 592 564,832 333, 530 223,993 7,309 39,085 25, 612 g 5 r CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN ATLANTA—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS CO [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Borrow- Reserves with ings Due * Date (Wednesday) Loans Federal from Due to from ^ reserve Federal banks banks > Total On se- All I m nv e e n s t t s - Total N m e a t n d d e- Time G m ov e e n r t n- bank re b s a e n r k ve Total curities other 1926 Jan. 6 90, 801 73,345 13,109 60, 236 17,456 86, 826 56,901 27,962 1,963 7,918 6,589 23, 542 16,296 13 89, 861 72, 435 13,117 59, 318 11,426 87, 968 58, 209 27,934 1,825 7,794 3,565 22,988 15, 641 2 2 0 7 8 8 9 9 , , 1 4 7 1 1 5 7 7 1 1 , , 5 7 4 5 7 6 1 1 3 2 , , 2 9 1 7 1 0 5 5 8 8 , , 3 7 3 8 6 6 1 1 7 7 , , 4 8 1 6 5 8 8 84 5 , , 9 5 1 2 2 0 5 5 6 4, , 6 0 8 0 5 7 2 28 8 , , 0 0 8 1 0 0 1 1 , , 8 8 2 2 5 5 6 6 , , 3 0 2 3 5 1 3 5 , , 9 12 8 8 1 2 2 1 1 , , 6 5 3 3 0 6 1 1 6 5 , , 9 3 3 3 5 7 Feb. 3 88, 590 69, 867 13, 007 56, 860 18, 723 82, 658 52, 563 28,270 1,825 6,568 4,483 20, 781 14,128 10 88, 713 69,996 12, 741 57,255 18, 717 84,117 53, 840 28,452 1,825 6,822 2,543 20,381 13,332 17 88, 526 69,630 13, 050 56, 580 18,896 84,968 54, 674 28, 469 1,825 6,548 2,181 20, 786 13, 592 24 70,172 13,162 57,010 18, 664 84, 666 54, 343 1,825 6,761 4,933 19, 275 14,143 Mar. 3 89,138 70, 464 13,407 57, 057 18, 674 83, 746 53, 566 28, 518 1,662 5,835 4,948 19, 800 14,729 10 89, 321 72, 377 13, 294 59,083 16,944 85,869 55, 646 28,398 1,825 6,255 3,611 21, 752 14, 686 17 94, 069 72,921 15, 320 57, 601 21,148 56,118 28,291 4,445 7,003 4,405 20, 583 13,298 24 93, 430 72, 718 15, 532 57,186 20, 712 85, 075 53, 286 28, 312 3,477 6,038 18,149 12, 771 31 93, 573 72, 719 15, 705 57,014 20, 854 83,956 52, 244 28,235 3,477 5,613 7,646 16,729 13,417 Apr. 7 91, 959 71, 754 15,928 55,826 20, 205 86, 549 54, 586 28,486 3,477 6,388 2,721 17,977 12, 524 14 90,515 72,348 16,143 56,205 18,167 88,058 56, 051 28, 530 3,477 6,511 3,716 17,193 15,041 21 ... 89, 619 71,194 15, 212 55,982 18,425 86, 227 54, 856 28, 502 2,869 7,219 3,890 19,188 11,020 28 87,608 69,304 14, 703 54, 601 18,304 83,503 52, 054 28, 580 3, 822 16, 795 13,609 May 5 89,313 70,923 17, 630 53,293 18,390 86,485 54,928 28, 819 2,738 7,535 2,437 18, 855 14,882 12 90,016 71, 606 15, 719 55, 887 18, 410 86, 222 54, 854 28, 760 2,608 5,628 2,275 16, 417 13,930 19 .... 67,906 14,126 53, 780 18,442 84, 805 53, 758 28, 787 2,260 8,224 2,575 15,954 13, 374 26 14,126 55, 760 18,322 82, 786 51, 795 28, 817 2,174 6,650 3,732 14,034 13,962 June 2 88, 770 70, 565 13,945 56,620 18, 205 83,932 52, 724 29,034 2,174 6,431 2,108 14, 589 12,479 9 88,445 70,395 13, 851 56, 544 18,050 84,954 53, 610 29,170 2,174 6,905 2,240 16, 230 12,038 16 89, 334 71,137 16, 551 54,586 18,197 87,015 55,590 29, 251 2,174 5,377 2,631 14, 612 14,287 23 88,132 69, 258 15, 557 53, 701 18,874 82,308 50, 831 29,303 2,174 7,196 4,236 17,950 11, 714 30 87, 511 69,118 16, 252 52, 866 18,393 81, 586 49,952 29, 722 1,912 4,338 2, 366 14,143 10,614 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7. 85, 562 66, 704 13,808 52,896 18, 858 83,125 51, 794 29, 527 1,804 6,005 2,321 16, 453 14,444 14 86,461 67, 536 12,965 54,571 18,925 83,825 52,670 29,481 1,674 6,400 2,114 15,422 13,084 21 86, 843 68,021 12,921 55,100 18, 822 83,971 52,682 29, 616 1,673 6,625 2,585 14,656 12,202 28, 88,183 69, 520 14,886 54, 634 18, 663 83, 056 51,850 29,533 1,673 5,803 1,873 15,220 11, 573 Aug. 4. 88, 555 70,327 15, 437 54,890 18, 228 83, 270 51, 896 29, 701 1,673 6,062 3,120 14, 282 11,971 11 87, 748 69,386 15,171 54, 215 18,362 84, 337 53,178 29,703 1,456 5,951 1, 389 14, 528 11, 726 18. 87,979 69, 643 15,192 54,451 18, 336 84,212 53,188 29, 698 1,326 6,128 2,541 14, 753 11,948 25 88,998 70,669 15,151 55, 518 18, 329 84,933 54,261 29,672 1,000 6,754 2,250 15,645 11,685 Sept. 1. 88,370 70, 237 12, 592 57, 645 18,133 83, 872 53, 213 29, 659 1,000 6,714 2,584 15, 584 11,998 8. 88,286 70,190 12, 500 57,690 18,096 83,117 52, 319 29, 798 1,000 5,989 2,176 17, 230 12,212 15 90, 653 70,985 13, 252 57, 733 19, 668 86, 627 55,912 29, 715 1,000 7,184 2,951 16,923 12,908 22. 90, 515 70, 584 14,376 56,208 19,931 83,044 52, 218 29, 826 1,000 7,717 4,269 16,838 12, 500 29. 92, 557 72, 500 15,107 57,393 20,057 84,814 51,972 29, 842 3,000 6,210 4,710 16,195 11, 753 Oct. 6. 91, 217 71,955 15,043 56,912 19,262 86, 072 53,060 30,012 3,000 6,718 4,957 17, 355 14,433 13. 91, 585 71,434 12,463 58,971 20,151 88, 336 55,694 29,946 2,696 6,130 2,191 18,984 14, 336 20. 90,153 70,257 14,077 56,180 19, 896 87, 749 56,010 29,939 1,800 6,691 2,977 17,871 15,098 27. 89,914 70, 333 13,421 56,912 19, 581 85, 738 54, 290 29,928 1,520 6,805 3, 564 17,498 13, 812 Nov. 3. 89, 672 69, 683 12, 245 57, 438 19,989 86, 327 54, 743 30,064 1,520 6,167 2,178 18,424 14,709 10. 90,100 70, 734 12, 595 58,139 19, 366 87,047 55, 593 30,153 1,301 7,685 1,806 19,124 12,601 17. 90, 827 71,489 14,152 57, 337 19,338 87,108 56,024 30,184 900 6,791 1, 679 18, 363 11,871 24. 91,086 71,616 14, 272 57,344 19,470 85, 410 54,252 30,258 900 6,795 2,059 17, 541 11,479 Dec. 1. 90, 861 71,822 14,941 56, 881 19,039 84, 605 53, 397 30,308 900 5,681 2,097 17,869 12,065 8. 91,108 71,938 14,954 56,984 19,170 84,782 53,708 30,274 800 6,489 2,113 18, 215 11,922 15. 94,285 75,115 17, 639 57,476 19,170 89,808 57,706 30, 239 1,863 6,667 2,892 18, 251 12,469 22. 90, 408 71,183 18,073 53,110 19, 225 86, 218 54, 076 30, 279 1,863 7,053 1,014 18, 533 11, 736 29. 91,054 71,722 19,179 52, 543 19, 332 83,342 51, 072 30,407 1,863 5,794 2,903 18,418 12,217 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

348 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 15 centers l Albany, Ga. * Month 1926 1925 1924 1926 1925 1924 January 1,337, 786 1,201,107 1, 047,405 5,693 4,886 4,744 February _.. 1,118,098 976, 073 947,847 5,052 4,448 3,602 March 1,311,891 1,120, 908 987,094 6,919 5,299 3,854 April 1,240,398 1,060,994 970, 084 5,853 4,685 3,708 May 1,126,993 1,096, 908 916,882 4,917 4,459 3,957 June 1,106,449 1,059, 350 872, 788 4,437 4,263 3,485 July... 1,153, 753 1, 092, 009 914,053 4,328 4,018 3,305 August 1,051,129 1, 052,912 848, 971 4,129 5,769 4,226 September. 1,142, 964 1, 250, 762 959, 071 6,511 7,707 5,217 October 1,316, 582 1,429,618 1,129, 584 6,128 6,159 5,694 November. 1,100, 578 1, 206, 911 973,154 4,984 5,580 5,121 December.. 1, 257, 765 1, 365, 832 1,154, 408 6,577 5,694 6,322 Total 14, 264, 386 13, 913, 384 11,721,341 65, 528 62, 967 53,235 Atlanta, Ga. Augusta, Ga. Month 1926 1925 1924 1926 1925 1924 January 171,890 160, 295 147, 837 31,882 29,455 30,883 February... 151,271 139, 812 129,368 24, 669 29,046 27, 950 March 197, 508 162,322 141,169 28, 639 31, 658 25,438 April 163,49. 149,152 141,164 25, 777 28,430 26, 202 May 158,445 150, 686 135,168 24, 659 24,113 24,806 June 153,929 151, 548 127,947 21,315 21,946 July........ 156, 663 145, 622 125,452 23,356 23,287 22,854 August 142,005 147,381 122, 785 20, 717 24,089 19, 799 September. 154, 714 167, 688 132, 683 32,243 33, 014 29, 649 October 174, 848 189, 631 157,521 32, 602 40,081 35, 574 November. 156,909 162, 592 140, 872 26,029 29,943 30,963 December.. 179, 565 178, 530 167,155 28,525 32,737 34,090 Total 1, 961,241 1,905, 259 1,669,121 320,413 348,0^6 330,154 Birmingham, Ala. Brunswick, Ga.* Chattanooga, Tenn. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 155.109 153,141 115, 510 3,624 3,138 3,383 48,979 42,362 41, 726 February... 127.110 116, 543 102, 699 2,578 2,799 38,391 37,006 35, 335 March 155, 315 127, 813 114, 734 3,525 2,732 2,700 48, 385 41, 736 39, 591 April 150, 280 127, 551 118,457 3,096 2,705 2,751 50, 580 41, 711 36,112 May 140, 670 125,041 108, 813 3,274 3,186 2,640 47,180 41, 544 36,842 June . 132, 301 124, 751 105,158 3,315 3,162 2,763 46,893 40, 511 35, 542 July 145,435 129,802 111, 042 3,918 3,218 2,704 42,920 36,186 August 127, 545 121,897 104,917 6,248 3,116 2,614 42,054 40, 542 35,108 September. 141,232 145,910 114,356 3,365 3,135 2,638 48,912 42,418 36,028 October 156, 653 154, 749 143, 881 3,633 3,577 2,773 64,150 50, 344 40,176 November.. 141, 599 131,265 128, 721 3,282 3,308 2,534 47, 860 44,995 36,222 December.. 152, 550 145,136 141, 880 4,487 3,465 3,311 49, 670 49,051 41,494 Total 1, 725, 799 1,603,599 1,410,168 45,036 37,320 33, 610 581, 737 515,140 450,362 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6—ATLANTA 349 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Columbus, Ga.* Dothan, Ala.* Elberton, Ga.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 15,980 15,037 12, 776 4,322 4,120 2,962 951 1,423 1,183 February... 13,244 13,729 10,980 3,648 3,533 2,877 814 1,009 971 March 14,134 14,069 11,254 4,063 3,697 2,613 1,014 1,164 920 April 14, 820 13,654 11, 236 3,906 3,532 2,335 1,096 1,059 995 May 13, 028 14,166 10, 703 2,959 3,697 2,359 944 867 964 June 12,032 13,795 10,142 2,580 2,925 1,824 717 854 765 July 13, 239 14,180 10,960 2,686 2,704 1,884 708 720 733 August 12,375 15,011 11, 384 2,362 4,677 2,744 592 615 680 September. 14,862 16, 688 12,489 4,830 7,104 783 1,115 1,003 October 14, 068 18,176 13, 651 4,203 5,841 4,710 1,084 1,413 1,562 November., 13,948 15,128 13,373 3,431 4,668 3,701 1,009 1,045 1,376 December.. 15, 604 15,600 15, 833 3,770 4,221 4,281 1,007 1,095 1,456 Total. 167, 334 179, 233 144, 781 42,760 50, 719 37, 653 10, 719 12, 379 12,608 Jackson, Miss.* Jacksonville, Fla. Knoxville, Tenn. Month 1926 1925 1924 1925 1924 1926 1925 1924 January 22,159 18,810 17,116 138,162 74,954 61,396 40,095 34, 662 34,595 February.. 20,439 18,050 14, 992 121,899 71,489 56, 722 29,839 28,930 29,150 March 23,460 19, 967 14, 734 132,292 79,646 60,757 34,398 31,704 33,299 April.. 21,064 16, 881 16, 706 118, 565 84,291 65,347 34,229 31,046 33,109 May 17, 553 16,034 19,140 112, 612 87,087 63,024 32,514 29,855 30,435 June 17, 705 14,218 14,027 108,412 91, 589 58,315 35,334 31,143 30,125 July 22, 701 16,337 15,722 105,251 95, 638 56,260 36, 785 31,920 31,882 August 17,612 16, 375 12,903 98, 700 95,130 55, 775 32,241 30,109 29,565 September. 20,579 14,531 94,411 107, 871 55, 308 31, 626 32, 550 31,540 October... 23,387 21,994 107,467 135,040 64,258 35,714 35, 520 33,918 November. 20,999 16,196 93,300 120,079 60,003 32,757 30,739 28,736 December. 23,656 17, 770 110, 241 144,950 72, 697 37,849 34,955 31,678 Total 251,314 136, 672 195, 831 1,341, 312 1,187, 764 729,862 413,381 383,133 378,032 Macon, Ga. Meridian, Miss.* Mobile, Ala, Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 23,682 22,410 20,082 15,105 15,309 11,820 41,072 37, 562 31,154 February 22,452 19,453 18, 856 14,323 15, 222 10,475 35,830 29,134 26,703 March 23, 896 22,584 19,584 16,185 16,440 10,164 40,785 33,216 27,696 April 23,798 22,905 20,036 14,222 15,596 10, 613 36,047 32,104 27,184 May 21,867 22,310 19, 839 14,454 15,407 15, 389 35,089 30,576 28,217 June 21, 573 21, 762 19, 570 14, 511 13, 816 12,118 36,965 30,604 26,861 July 24,220 25,459 21,746 14,775 14, 754 13, 580 36,700 31,999 25,761 August 22, 526 25,328 21,658 13,481 14, 259 13,837 34,282 29,319 25,421 September.. 24,964 27,335 21, 858 16, 461 17,155 14,033 37,775 42,417 29,462 October 27, 859 29,043 25,881 16,909 17, 877 16,167 45,440 49,330 32,663 November... 23,963 24, 571 22,227 15,316 14, 778 13, 668 40,973 33,946 27,551 December... 26,003 27, 843 25,431 17,294 15, 995 14,990 48,930 42,408 Total. 286,803 291,003 256,768 183,036 186, 608 156,854 422, 615 342,126 38494—27- -24 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

350 ANNUAL BEPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Montgomery, Ala. Nashville, Tenn Newnan, Ga.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 27,069 24,776 24,464 82,450 89,162 77,246 2,424 3,730 2,500 February... 23, 580 20,414 22,023 80,908 73,596 66,630 1,987 2,602 1,617 March 26,487 27,683 21,698 96,115 84,203 77,086 1,892 2,351 1,614 April 24,482 24,058 21,942 85,994 82,295 74,113 1,832 1,970 1,560 May 24,183 21,403 20,757 79,066 78, 725 72,321 1,815 1,816 1,550 June 21,002 19,679 19,368 82, 712 80,303 71,429 1,950 1,617 1,397 July 21,717 20,756 18,879 86,220 83,887 71,385 2,254 2,063 1,453 August 19,421 21,818 17,451 79,164 74,590 69,174 1,771 1,837 1,622 September. 25,088 28,692 23,714 78,233 81,631 72,315 2,479 2,492 1,890 October 26,567 30,978 26,732 89,181 87,156 82, 707 3,350 3,200 2,327 November. 23,614 23,642 21,391 79,070 76, 771 71,973 2,299 2,231 2,505 December. 24,410 27,975 24,072 83,456 85,469 79,158 2,399 2,820 2,964 Total 287,620 291,874 262,491 jl, 002, 569977, 788 885, 537 26,452 28, 729 22, 999 New Orleans, La. Pensacola, Fla. Savannah, Ga. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 398,768 419,085 364,634 10,060 7,935 7,060 49,957 41,950 47,485 February 313,564 305,207 341,696 9,079 6,766 7,169 40,412 39,864 40,847 March 361,988 361,265 338,030 9,349 7,754 7,652 49,762 43,687 37, 625 April. 375,755 323,461 319,942 8,750 7,841 7,190 46,082 38,781 36,066 May 314,479 366,441 286,623 8,423 7,968 7,164 44,800 37, 961 38,760 June 318,718 318,290 268,983 8,965 8,368 6,885 42,618 38, 950 37,679 July 337,263 329,636 304,881 9,717 7,043 45,175 39,228 38,258 August 309,549 30? 357 267,211 8,709 9,345 6,581 43,911 47,580 34,668 September.... 333,014 377. '29 317,679 8,143 9,072 6,431 64,826 58,312 47,329 October 408,699 436,005 382,321 9,000 10,903 7,000 63,600 66, 535 48,183 November.... 300,423 364,147 306, 585 7,785 9,851 6,565 56,296 51,465 42,669 December— 374,186 409,468 383,219 11,259 8,948 55,649 55,623 49,673 Total.. 4,146,406 4,314,171 3,881,804 106,871 106, 779 559, 936 499,242 Tampa, Fla. Valdosta, Ga.* Vicksburg, Miss. Month 1926 1925 I 1924 1926 1925 1924 1926 1925 1924 January 108,803 52,414 34,061 7,602 5,805 4,936 9,808 10,944 9,272 February... 90,538 49,716 34,657 6,170 4,638 4,162 8,556 9,097 8,042 March 98,879 57,641 35,959 6,642 4,917 4,461 8,093 7,996 6,776 April 89,016 60,312 35,713 6,165 4,661 4,574 7,549 7,056 7,507 May 76,108 66,568 37,100 5,667 4,639 4,391 6,898 6,630 7,013 June 68,941 72.921 36,124 5,147 4,518 3,954 6,771 6,698 6,856 July 69, 751 74,379 35,194 7,231 5,396 4,192 7,608 6,759 7,230 August 64,054 76,695 32,442 10,089 8,852 5,649 6,251 6,732 6,416 September- 59,538 85,339 32, 065 6,841 7,680 5, 718 8,245 10, 784 8,654 October 65,561 103,139 37, 655 6,486 6,954 5,231 9,241 11,084 11,114 November- 61,822 93.922 38, 778 6,011 5,996 4,759 8,178 8,983 9,898 December.. 68,218 110,759 50,607 7,032 7,539 5,293 8,831 10,853 Total, 921,229 903,805 440,355 81,083 i 71,595 57,320 96,029 102,432 99,631 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 6—ATLANTA 351 No* 16.— MONEY RATES1 IN ATLANTA, BIRMINGHAM, JACKSONVILLE,1NASH- VILLE, AND NEW ORLEANS [Rates prevailing during week ending with 15th of month] ATLANTA Loans secured by Month c l o P o m c r a i i n m a m s l e e 2 r- I l b n o a t a n e n k r s - p ch ri a m ng e e s c t o o l c l k at e e r x a - l L h cu o o c w r u a e e a s n i d r p e s e t b r s - s e e y - - C lo a a t n tl s e Demand Time 1926 January _ 5 -6 5 -6 5 -6 5 -6 5 -6 February 5 -6 5 -6 5 -6 5 -6 5 -6 March 5 -6 5 -6 5 -8 % 5 -8 April.... 5 -6 5 -6 5 -8 5 -8 May.. 5 -6 5 -6 5 -7 5 -7 6 -8 June 5 -6 5 -6 5 -6 5 -6 5 -6 July 5 -6 5 -6 5 -6 6 5 -6 August. 5 -6 5 -6 5 -6 5 -6 5 -6 September _ 5 -6 5 -6 5 -6 5 -6 5 -6 October _ 5 -6 5 -6 5 -6 5 -6 5 -6 November 5 -6 5 -6 5 -6 5 -6 5 -6 December... 5 -6 5 -6 5 -6 5 -6 5 -6 BIRMINGHAM 1926 January 5 -6 6 6 6 February 6 5 -6 6 6 6 March 5 -6 5 -6 6 6 6 April. 5 -6 5 -6 6 6 6 May 5 -6 5 -6 6 6 6 June 5 -6 5 -6 6 6 6 July 5 -6 5 -6 6 6 6 August 5 -6 5 -6 6 6 6 September 5 -6 5 -6 6 6 6 October 5 -6 5 -6 6 6 6 November 5 -6 5 -6 6 6 6 December... _ 5 -6 5 -6 6 6 6 JACKSONVILLE 1926 January 5 -8 5 -6 5 -8 5 -8 434-8 February.. 43^-6 6 5 -7 5 -7 434-6 A M p a r r i c l h 4 4i J4 / 4 2- 8 8 6 6 5 6 - - 8 8 5 6 - - 8 8 4 6 3^ - - 8 8 May.. 5 -7 5 -6 5 -6 5 -6 5 -7 June 5 -7 6 6 6 5 -6 July 5 -7 6 6 6 5 -6 August 5 -7 6 6 6 5 -6 September. 5 -7 6 6 6 5 -6 October 5 -6 6 5j/&-6 -£-6 5 -6 November. 5 -6 6 6 6 5 -7 December.. 6 5 -6 6 5 -6 NASHVILLE 1926 January 6 6 6 5^-6 5H-6 February _ 6 6 53^-6 53/2-6 534-6 March _ 5^-6 53^-6 5H-6 53^-6 534-6 April 534~6 534~6 5^-6 534-6 5M-6 J M un ay e 5H-6 6 53^-6 6 bV2- 6 6 5^-6 6 534-6 July.._. 6 5^-6 5 -6 6 534-6 August 6 5^-6 5 -6 6 534-6 September. 6 5J4-6 5 -6 6 • 53^-6 N O o ct v o e b m er b er _ _ _. 6 6 5 5 V ^ 2 - - 6 6 5 5 - - 6 6 6 6 5 5 3 ^ 4 - - 6 6 December. 6 534-6 5 -6 6 5H-6 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90-day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Digitized forB FoRarAd'Ss EARnn ual Report for 1925, Part II, Table 12. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

352 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No, 16.—MONEY RATES IN ATLANTA, BIRMINGHAM, JACKSONVILLE, NASH- VILLE, AND NEW ORLEANS—Continued [Rates prevailing during week ending with 15th of month] NEW ORLEANS Loans secured by Month c P o l m o r c i a i m m a n l s e e r- I b l n o a t a n e n r k s - c p h ri a m ng e e s c t o o l c l k ate e r x a - l L c h u o o w r u a e a n s d r e s e b s r - e e y - - C lo a a t n tl s e Demand Time ceipts 1926 January..— 5 -6 5 -5 5 -6 5 -6 5 -6 February-. 5 -6 5 -5 5 -6 5 -6 5 -6 March 5 -6 5 -5 5 -6 5 -6 5 -6 April 5 -6 5 -5 5 -6 5 -6 5 -6 May 5 -6 5 -5} 5 -6 5 -6 5 -6 June 5 -6 5 -6 5 -6 5 -6 5^-6 July „ 5 -6 5 -6 5 -6 6 August 5 -6 5 -6 5 -6 6 5^-6 S O e c p to te b m er ber. 5 5 - - 6 6 5 5 - - 6 6 5 5 - - 6 6 6 6 5V2-Q N D o ec v e e m m b b e e r r . . . 5 5 - - 6 6 5 5 > J4-6H 5^-6 5 5 V H 2- - Q 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 7—CHICAGO No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec, 31, Dec. 31, 1926 1925 1924 1923 Gold with Federal reserve agent 163,424 114,683 165,909 384,917 Gold redemption fund with United States Treasury. 8,668 5,612 2,498 4,196 Gold held exclusively against Federal reserve notes... 172,092 120, 295 168,407 389,113 Gold settlement fund with Federal Reserve Board... 131, 482 128, 969 110, 989 106,900 Gold and gold certificates held by bank .. 64, 587 69,067 87, 980 49,091 Total gold reserves 368,161 318,331 367,376 545,104 Reserves other than gold 21, 856 17,494 15,576 8,286 Total reserves.. 390,017 335, 825 382,952 553, 390 Nonreserve cash 10, 958 9,568 9,266 7,500 Bills discounted: Secured by United States Government obligations. 58,929 55, 505 19, 379 Other bills discounted _ 38, 902 32, 455 18,445 46,468 Total bills discounted 97,831 87, 960 37, 824 95, 334 Bills bought in open market.. 50,116 27,711 33, 882 42,437 United States Government securities: Bonds.. __ 20, 517 20,190 19,494 4,426 Treasury notes _ _ 5,490 18,955 46, 556 4,867 Certificates of indebtedness 22, 751 13,657 14,320 1,464 Total United States Government securities.. 48, 758 52, 802 80,370 10, 757 Foreign loans on gold 1,077 894 Total bills and securities . 196, 705 169,550 152, 970 148,528 Uncollected items _. 89,874 97, 279 81, 588 66,451 Bank premises 7,770 7,933 8,099 8,264 All other resources. 2,591 1, 928 1,556 240 Total resources 697, 915 622,083 636,431 784, 373 LIABILITIES Federal reserve notes in actual circulation. 249, 693 180,118 196,529 406, 901 Deposits: Member bank—reserve account . 311,664 306, 521 312, 395 268,212 Government. 2,582 434 6,173 2,745 Foreign bank 3,857 1,139 275 226 Other deposits 943 888 1,340 826 Total deposits.. 319, 046 308, 982 320,183 272,009 Deferred availability items.. 78, 595 85,020 72, 786 58, 611 Capital paid in 16,716 15,731 15,172 15,179 Surplus 31, 881 30, 613 30, 426 30,426 AH other liabilities 1,984 1, 619 1,335 1,247 Total liabilities.. 697,915 622,083 686,431 784,373 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) ... 68.6 68.7 74.1 81.5 Contingent liability on bills purchased for foreign correspondents _ _ 7, 734 9, 706 6, 360 2, 640 353 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OP FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Fed- Date T r s b a i e o t i n c i l t e d l u a s s - l Total c U G e u S b r o r . e n y e S v - - d . - O c b d o t i u i h l s l n e - s t r -] | b o m o B k p u i i a e n e l g r l t n h s - t U s S e n t t c i a i e u t t s e r e i s d - l g F e o o i o o a g n r l n - n d s s T c e r o a r e v s t - a h e l s b M p s o a e b d r s e n r e e e i m k v - - r t e s s - p T o o d s t e i - a t l s n s c e o e c u r r i i r t e l a r n v - e a l - e - s s c p R e e e e r n r - v t - e ment ed | tion obliga- I tions 1926 Jan. 6— 198, 704 115,682 75, 539 40,143 26, 672 55,315 1,035 326,702 332, 531 338,355 177,383 63.3 13 150,347 >,208 38,092 28,116 30,171 53,002 966 357, 799 324,466 326, 844 173,333 71.5 20.-.. 144,200 61,081 33, 604 27,477 29, 755 52,467 897 369,286 329,036 333,610 169,390 73.4 27— 164, 58483,103 50,812) 32,291 28, 669 51,915 897 352,316 328,849 333,145 165,940 70.6 Feb. 3— 154, 08373, 055 42, 603 30,452 32, 085 48,060 883 364, 709325,148336,315 163, 631 72.9 10 149,113 72,200 39,329 32,871 29, 595 46,311 1, 007 354,676 319,002 321,071 162, 22373.4 17.— 138,370 62, 75f 33,333 29, 422 29, 767 44,882 966 359,251 315,177J319, 676 161, 36274.7 24 129,539 54,831 27, 561 27, 270 31, 376 42, 352 980 373,955 317,159,320, 503 162, 381 77.4 Mar. 3.--. 164,972 88,667 54, 408 34, 259 31,092 44,021 1,192 350,998 324,041'336,833 163, 046 70.2 10— 142,757 64,501 37, 681 26, 820 30, 234 46, 816 1, 206 375, 517 321,176)330,180 164,20976.0 17— 125,699 55,051 33,406 21,645 28, 587 41,006 1, 055 382,046 327,301 330,144 163, 63277.4 24..-. 149,257 78,020 40,456 37,564 28,319 41.822 1, 096 360, 278 315,223 323, 671 165,18973.7 31 — 186,870111,731 43,280 68,451 28, 766 45, 208 165 310,019 304,347 313, 556 162, 02865.2 Apr. 7.--. 162,513! 84,203 37, 489 46, 714 31, 516 45,588 206 358, 277 322, 873 334, 573 163, 83971.9 14— 152, 533 65,055 23,497 41, 558J 35,174 51,112 192 353,860 314,085|317, 503 167, 02073.0 21 — 146, 277 59, 22927, 249 31, 980 27, 873 57,983 1,192 361,087 315,060)317,285 172, 577 73.7 28— 144, 900 61, 26330, 320130, 943 23, 591 58,936 1,110 364,346 312, 539 315,100 171,852 74.8 May 5 146,125 67,114 33,197J 33, 917 20,731 57, 253 1, 027 398,890 340, 277 350,025 179,40975.3 1 19 2 — .... 1 1 3 3 7 5 , , 2 5 4 4 6 9 5 5 5 4 , , 2 4 1 7 6 9 2 2 2 4 , ,3 50 3 5 0 J 3 3 2 0 , ,1 7 4 1 9 1 2 20 1 , ,1 5 9 1 3 8 5 59 9 , . 8 5 2 3 3 8 1 1 , , n0 0 1 1 i4 4 4 Q3 3 O8 9 C8 9 , , m0 3 n3 9 0 4 ? 3 3i1 3 9>9 4• , , 5 3 4 " w 8 6 - . 8 3 ) » 1 2 3 ~ 5 3 », 8 , , 7 8 9, 6 6 9 ™1 1 8 7 3 7 , , 2 9 1 6 6 6 7 7 7 6 . . 3 2 26— 135, 468 50,158 22, 978 27,180| 27, 038 57,258 1,014 388,428 318, 2241323, 765 176; 90477.6 June 2 141, 954 53, 55727, 970 25, 587| 29,596 57, 5821,219 375,497 310,360 314, 680 178,476 76.1 9— 139, 673 46, 311 18, 572' 27, 739 31, 676 60, 535 1,151 393, 869 331, 510 334, 071179,09676.8 16— 144, 333 43, 55518, 702| 24, 853 32, 267 67,483 1,028 377,081 322,748 324, 779 181,848 74.4 23— 159,449 68,110 33,830; 34, 280; 31,818 58,603 918 381,794 336,150 338,292 183, 576 73.2 30— 180,149 89, 58753, 265! 36,322! 31,788 58,020 754 370, 367 341,242 343,276 186,185 70.0 July 7 153,098j 62,407 30,885! 31,522! 31,151 58,869 671 382,156 316,804 319, 586 192, 58574.6 14 143, 574 53,229 24,355) 28,874) 31,469 58,438 438 407,977 336,126 342,413 194, 61776.0 21— 148, 559 56,250 28,666 27, 584| 33,924 57,974 41K392,012 328, 561 330,445 191, 677 75.1 28.-. 146,498 58, 53731,310 27,227 31, 077 56,706 178 391,302 320, 274 326, 748 191,41475.5 Aug. 4 147,868 56,137 29, 561! 26, 576 35, 357 56,374 402,187 331, 542 339, 698 191,990 75.6 11.-. 141, 017 52,065 24,9181 27,147! 33, 03" 55,915 403, 692 331,464 334, y49 189,31277.0 18 150, 093 57,169 33, 222! 23, 947| 37, 287 55,637 408,864 336,328J347, 410 192, 67075.7 25— 158,970 73,604 45, 417}28,187 35,191 50,175 408,137 347,416 353,018 197, 651 74.1 Sept. 1— 157, 252 41, 395' 28, 598 36, 529 50, 730 401,801 330, 918 335, 955 201,149 74.8 146,478 59, 08131,442! 27, 639| 37, 784 49,613 419,985 335, 536 337,933 210, 533 76.6 15 163, 830 53, 53828, 256; 25,282 38,882 71,410 418,333 356,136 358, 788 208, 545 73.7 22 158, 718 70, 93435,743S 35,191140, 749 47, 035 397,113L327,054 330, 329 208,892 73.6 29 180, 751 94, 62361, 634! 32,989] 38,449 47, 679 401, 676 349, 752 352, 853)208, 99271.5 Oct. 6 183,440 93, 48854,054! 39,434| 42, 017 47,935 387,815 338, 766 341, 602 211,46670.1 13 176, 720 86,497 51, 598: 34, 899) 42, 008 48, 215 413, 526 334, 799 338, 764 213, 86974.8 20 173, 788 83,996 50, 264! 33, 732| 42, 027 47,765 387, 507 323,497 327,454 214, 27471.5 27. 198, 371 j 106,081 68,114| 37,967 44,488 47, 802 377, 358 330, 493 338, 287 212, 92368.5 Nov. 3.. 223,692^130,644 85, 605; 45,039 44, 912 48,136 369,113 334,161 342, 093216, 527 66.1 10 196,262|103,090 64, 332! 38, 758 45,485 47, 687) 372, 004 329,1731331, 700 215, 51968.0 17 193,977! 99,273 63,479! 35,7941 46, 016 375,258 325, 367 331,418 217, 285 68.4 24 199, 886 106, 887 66, 909! 39,971' 45, 712 47,287 370, 743 321, 068 325, 044 221, 56167.8 Dec. 1 209,409117,470 76,839! 40,631) 44,381 47,558 371,465 326, 933 335,015 22t4,, 716 66.4 8 193, 26998, 83861,359: 37,479| 46,047 48,384 381,509 315,034 322,012 231,307 68.9 15 . 209, 73199, 93764,026 35,911 51,146 58,648) 384, 296 334,918 341, 658 236, 608 66.5 22 221, 709 123 36775,350! 48,017 49, 884 48,458 365, 522 327,098 331,459 253, 75462.5 29 ._ 234,868'136, 63173, 646; 62,985 50, 111 48,126 367,141 328,171 334, 081 250, 556 62.8 Daily average: 1926 162,464j 75,400 34, 747 51, 751 566 380,424 326, 708 332, 210 192,06472.6 1925 137,259 53,050 33,356 49,550 1,330033 366, 271 318, 255 323, 405 160, 66575.7 1924 124,234 46,795 20, 291 57,077 471, 537 296,434 304,854 269, 23782.1 1923 148,766 86,046 34,228 28,492j 552, 282 275,636 280, 953 403, 60580.7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discou b n a t n ed k s for member Bills bought in open market Bills U bo n u it g e h d t S in ta o te p s e n s e m cu a r r i k ti e e t s U S n ta i t t e e s d bought securities Total dis- from bought Foreign Month c p o u u r n c t h s a a se n s d Total c M o n b l e l o a m a t n t e e b k s r e a r l c R o b u e i n d ll i t s s e - d Total o B u o tr u i g g h h t t r W es i a th le F r b e o e a s t d e h n e r e k v r r a s e l Total ou B t o ri u g g h h t t 1 a r W m e g s r e i a e t n l e h e t - F re o f e s r t d o e h e m r e r v r a e l loa g n o s ld on banks 1926 January 284,522 247, 794 210,616 37,178 19, 288 14, 986 4,302 1,573 15,839 15,839 28 February 236, 950 205, 972 172,502 33,470 21,344 16, 422 4,922 876 7,455 7,455 1,303 March _. 382, 367 298,012 226,578 71, 434 19,115 13, 529 5,586 64,952 39,288 25, 664 288 April 258,210 207,018 174,340 32, 678 25, 367 16,125 9,242 1,129 18, 734 8,914 9,820 96 H May 182, 561 140, 660 107,580 33, 080 29,080 22, 076 7,004 11, 588 633 10, 955 1,233 June 292, 661 198, 816 162,151 36, 665 26, 934 20,179 6,755 66, 346 52,127 14, 219 497 68 July 217, 598 174,807 146,388 28,419 24,279 14, 961 9,318 4,307 11, 594 2,480 9,114 2,460 151 iO August 245,043 208,411 176, 547 31, 864 27, 505 21, 323 6,182 900 6,260 6,260 1,967 September 321, 758 246.833 212, 673 34,160 22,105 16, 993 5.112 2,400 50, 420 42, 535 7,885 October 356. 369 307, 843 267, 522 40,321 30. 226 21, 534 8,692 3,201 15. 099 1,180 13, 919 November.._ 380, 394 339, 247 296,062 43,185 24, 531 18, 916 5,615 1,700 14; 916 4,751 10,165 December 467, 538 396, 695 335, 811 60,884 31, 985 24, 572 7,413 38, 661 28,907 9,754 197 W Total, 1926.... 3, 625, 971 2, 972,108 2, 488, 770 483. 338 301, 759 221, 616 80,143 321, 864 180, 815 141,049 10,987 3,167 M 1925.... 2, 555,143 2, 075, 378 1, 731,401 343, 977 247, 786 200, 446 47. 340 223, 895 131, 320 92, 575 1,800 6,284 o o 1924.... 1, 430, 941 1, 035, 261 751, 741 283. 520 164, 045 164, 045 227, 723 175. 421 52.302 3,018 894 o 1923—. 3, 330, 011 2, 508,082 1, 869,696 638, 386 265, 360 265, 360 13, 380 518,189 319, 647 198,542 25,000 1 Includes special temporary certificates received from the Secretary of the Treasury, as follows: 1926—March, $25,000,000; June, $42,000,000; September, $32,000,000; and December, $13,000,000. 1925, $78,500,000; 1924, $33,000,000, and 1923, $311,500,000. Ox Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

356 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Num- Month Illinois i I a n n d a i 1 - Iowa M g i a c n h i i- W s i i s n co i n- Total N b u e m r - ac b c e o r mat end modated of during month 2 the month January... 115,188 11, 563 6,542 98, 952 15, 549 247, 794 1,392 541 February. 103,651 9,351 3,979 78,060 10, 931 205, 972 1,389 473 March 174, 554 11,115 5,426 90,116 16,801 298,012 1,383 488 April 75,189 10,324 4,664 102, 091 14, 750 207,018 1,377 501 May 48, 674 9,136 5,016 59,456 18,378 140, 660 1,372 527 June 91, 613 11,252 4,911 22, 854 198,816 1,369 540 July 86, 201 11, 780 5,037 59, 674 12,115 174,807 1,368 511 August.. 11, 534 3,937 76, 506 25, 628 208,411 1,363 507 September. 93,900 11, 768 4,823 115, 876 20.466 246,833 1,361 478 October 123, 625 14,086 6,566 141, 463 22.103 307, 843 1,357 511 November. 143,619 11, 388 9,213 156, 520 18,507 339, 247 1,342 536 December ...I 186,699 12, 829 8,076 164,033 25,058 396, 695 1,335 578 Total: 1926 1, 333, 719 136,126 68,190 1, 210, 933 223,140 2, 972,108 1925 839.123 98, 303 83,057 942.318 112, 577 2,075,378 1924.... 348, 697 94,046 122, 560 377,372 92,586 1,035, 261 1923. 1, 232,182 172,030 181, 396 781, 268 141, 206 2, 508,082 Number of member banks at end of year:2 1926.... . 394 198 371 243 129 1,335 1925 403 205 417 241 132 1,398 1924 _ 207 446 237 131 1,419 1923 404 210 455 235 131 1,435 Number of member banks accommodated during the year: 1926... 241 120 230 165 814 1925 224 129 265 148 825 1924 242 139 303 164 922 3923 244 147 333 167 973 J Figures relate only to that part of the State located in the Chicago district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital-stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 7—CHICAGO 357 No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills.. _.. $3,015,981 $2,121,979 $2,044,407 $3,:, 872,139. Purchased bills 1,230,850 1,055,291 705,723 1,420,395 United States securities 1,929,874 1,834,450 2,121,708 1,049,666 Deficient reserve penalties.. 50,427 43,069 39, 910 37,573. Miscellaneous _ 339, 911 369,874 290,421 131,586 Total earnings. 6, 567,043 5,424,663 5,202,169 6,511,359* CURRENT EXPENSES Salaries: Bank officers _ 299, 523 321, 901 347,478 332, 875, Clerical staff 1,685,405 1, 663,194 1,818,716 1,947,951 Special officers and watchmen 97, 675 95,633 102, 906 108,696 Allother... 287, 790 282,265i 271,471 344,363, Governors' conferences 420 360! 383 711 Federal reserve agents' conferences 230 346' 302 363 Federal Advisory Council 1,193 992| 914 1,007 Directors' meetings 10, 210 8,1471 8,441 9,094 Traveling expenses 1 24, 630 25,879 26,222 31,780. Assessments for Federal Reserve Board expenses 99, 230 97,955 91,183 97,426 Legal fees 8,513 2,000 4,711 Insurance (other than on currency and security shipments) 42,082 46, 069) 39, 7141 38.601 Insurance on currency and security shipments 66,838 64,870j 68,8591 56, 083 Taxes on banking house 278,458 242,3741 230,166 230,455. Light, heat, and power 27,477| 33, 906! 41,240 49.602 Repairs and alterations, banking house 7691 34,3531 17,941 88,308 Rent- 38, 231! 38,3641 48,142 42,176 Office and other supplies. 61, 72l| 66, 379' 76, 924 144, 239. Printing and stationery.. 76, 6411 71,329j 81,128 112,922 Telephone. 20, 698i 21,878 i 26, 675 30,164 Telegraph 46,182) 49, 570l 59,305 62,125. Postage 239,748! 237,061) 213, 546 207, 994 Expressage 51,4461 51,588; 50, 584 55,244 Miscellaneous expenses... 69, 726 77,862! 66, 944 110,094 Total, exclusive of cost of currency 3, 534,8361 3, 534,2751 3, 4,102,273. Federal reserve currency, including shipping charges: O riginal cost _ 275, 997| 189,089J 225,985 210,993 Cost of redemption. 13,604j 20, 675| 36,556 57, 752 Taxes on Federal reserve bank-note circulation 2,006 Total current expenses. 3,824,437 3,744,039: 3,946,436 4,373,034 PROFIT AND LOSS ACCOUNT Earnings. 6, 567,043 5,424,6631 5,202,169 6, 511, 359, Current expenses.. 3,824,437 3,744,039 3,946,436 4, 373, 024 Current net earnings 2, 742, 606 1, 680, 624 1, 255, 7332,138, 335. Additions to current net earnings. 13,098 12,646 27,85; 41,903, Deductions from current net earnings: Bank premises—depreciation 165,197 165,197 165,197 451,044 Furniture and equipment 83,039 32,718 11,818 366,662 Reserve for probable losses 241,032 323,097 181, 674 363, 586 Allother 12,513 50,985 15,778 20. 591 Total deductions.. 501, 781 571, 997 374,467 1,001,883» Net earnings available for dividends, surplus, and franchise tax 2,253,923 1,121,273 909,123 1,178,355, Dividends paid 934,016 909,123 904,371 Transferred to surplus account 1,267, 964 187,257 27,398. Franchise tax paid United States Government - 246, 586 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries.- 5,014 9,963 54,472 239,354, All other. 3,724 7,762 7,354 50,686 Total.. 8,738 17, 725 61,826 290,040 i Other than those connected with governors' and agents' conferences and meetings of directors and the advisory council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

358 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 16, 831 16, 509 19, 391 21,196 Notes discounted.-- 81, 998 79, 204 92,140 94,971 Bills purchased in open market for own account _ 21, 579 17,316 10,135 20,241 Currency received and counted 328, 450,000 303,159,000 282, 779,000 268,485,000 Coin received and counted - 246, 233, 000 207,945,000 208,091,000 206,613,000 Checks handled 111,800,000 104, 023, 000 97,084,000 88,649,000 Collection items handled: United States Government coupons paid _ - 6, 547, 000 7,158,000 8,063,000 10,459,000 Allother _ 556,000 507,000 489,000 442,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 858,000 1,178,000 2, 634,000 » 22,041,000 Transfers of funds 297,000 271,000 263, 000 246,000 AMOUNTS HANDLED Bills discounted $2,972,108, 000 $2,075, 378,000 $1, 035, 261,000 $2, 508,082,000 Bills purchased in open market for own account _ _ 301, 759,000 247, 786,000 164,045,OCO 265,360,000 Currency received and counted 1,872,170,000 1, 669, 703, 000 1, 564,021,000 1, 501,901,000 Coin received and counted ... 34, 794,000 31, 540,000 29, 234,000 28,843,000 Checks handled .12 72,72,94, 595,000 25, 356, 469,000 23, 280, 863,000 23,074,243,000 Collection items handled: t ti United States Government coupons i>*! paid 76, 554, 000 80. 233,000 82, 348,000 89, 818,000 H All other 922, 542, 000 832, 836,000 618,147, 000 763, 273, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department _ 639, 421. 000 699, 530,000 831, 013,000 1,116,402,000 Transfers of funds 23,012, 766, 000 20, 537,448,000 18, 833, 433,000 15, 588, 668,000 1 Large total due to redemption of war savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] Items for- Items drawn on Items drawn on warded to Items drawn member and non- Federal reserve other Federal on United member banks in bank and its reserve banks States Total i own district branch and their Treasurer Month branches Num- Num-| Num-i Num- Number Amount ber Amount ber iAmount ber Amount ber Amount 1926 January 7,839 1, 533,441 516,893 ! 528 43,529 356 47.394 8,764 2,141,257 February 7,061 1,328, 771 432,000 I 477 38,420 332 42, 636 7,903 1,841, 827 March 8,680 1,748,501 i 581,155 610 55,367 I 452 52, 616 9,784 2, 437, 639 April 8,109 1, 567, 070 | 558,862 493 43,059 I 526 56,955 9,166 2,225,946 May 7,953 1,570,145 j 557,421 465 42,115 I 438 I 49,852 8,895 2, 219,533 June... 8,734 1,728,953 ! 563, 548 526 55,912 381 ; 51,446 9,682 2, 399,859 July 8,285 1,608,095 } 586,602 478 48,020 I 374 ! 49,346 9,180 2, 292, 063 August 7,926 1,596,214 I 562, 615 454 42,137 j 367 \ 46,355 8,786 2,247,321 September 8,261 1,713,900 ! 38 I 518,134 500 49,109 464 51, 621 9,263 2,332,764 October 8,769 1,743,576 I 40 559,017 508 44, 640 541 55,846 9,858 2,403, 079 November 8,631 1,661,765 38 522,487 515 42, 617 455 52,141 9,639 2,279, 010 December 9,472 1,722,711 ! 41 | 589,516 629 50,801 402 57, 642 10, 544 2,420,670 Total: 1926.... 99, 720 19, 523,142 473 J6, 548, 250i, 183 555,726 15,088 613, 850 111, 464 27, 240, 968 1925 92,360 17, 759, 773 484 16,335,217 6,078 566,012 4,826 648, 207 103,748 25,309,209 1924.... 85, 541 16, 074, 222 446 6.040,288 5,739 491,221 15,125 629, 072 96,851 23, 234,803 1923.... 278,186221,819,705 (3) ' (8) 5,250 526,884 5,016 674, 650 88,452 23,021, 239 1 Exclusive of duplications on account of items handled by both parent bank and branch. 2 Includes items drawn on Federal reserve bank and its branch, separate figures not being available. 3 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 7—CHICAGO 359 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars! 1 e 92 n 6 d , i w ng ee - k T P r a a y n - sit clearing F P n e o d a t y e e r - a c l l e r a e r s R i e n e r - g ve P T G a r o a a y v n c - e c s r f o n e u r m n s R t e f e n o - t r p t F a r o b e T y e a s o m d o e n t e t r h k e a v r e n a l s e r l ts r F r e e T o f e c r s t d o o e h e e t i m r e a p v r r a l t e s l N lo e ss t g N a e in t ments ments ceipts ceipts banks Jan. 6 (5 days) 253, 567 241t 950 616 734 8,000 262,183 242,684 19,499 13 287,355 303,990 1,049 1,646 288,404 305,636 17,232 20 313, 205 319,274 1,253 2,088 314,458 321,362 6,904 27 327,328 306,728 1,084 2,722 328,412 309,450 I8,"962 Feb. 3 290,911 304,449 862 1, 1,000 291,773 307,344 15,571 10. 300, 018 294, 701 835 1,628 300,853 296,329 4,524 17 274, 602 279,958 802 860 275,404 280,818 5,414 24 254,909 275, 762 56: 1, 255,471 277,043 21,572 Mar. 3 349,827 323, 586 1,067 2,224 350,894 325,810 25, 084 10 293,035 315, 809 809 1,119 293,844 316,928 23,084 17 326, 511 339,149 819 1,214 5,000 332,330 340,363 8,033 24 333,282 327,974 786 1,262 27,000 12,000 361.068 341, 236 19,832 31 346,955 297,546 987 1,423 347,942 48,973 Apr. 7 318,882 369,488 1,007 1,196 319,889 370,684 50,795 14 295,582 287,733 475 1,499 296, 057 289,232 6,825 21 361,733 361,910 898 1,385 3,000 362,631 366,295 ~3,~664 28 328,963 327,104 911 1,549 500 330,374 328,653 1,721 May 5 291,070 323,048 970 779 292, 040 323,827 31,787 12. 298,913 283,428 791 1,277 299, 704 284,705 14,999 19.... 338,531 351,277 1,072 2,846 339,603 354,123 14,520 26 308,87f 301,480 819 1,638 309.69 303,118 6,573 June 2 289,191 286,682 956 783 290,147 287,465 2,682 9 296,154 309,979 1,047 1,297 6,000 3,100 303,201 314,376 11,175 16 337,814 322,462 966 1,474 1,000 339,780 323,936 15,844 23 334, 742 363,668 980 1,738 27,000 362,722 365,406 2,684 30 331,228 322,903 1,148 2,116 4,000 336,376 325, 019 "ll~357 July 7 263,818 287,004 876 1,709 1,000 1,000 265,694 289,713 24,019 14 298,416 307,368 1,155 1,335 1,500 1,000 301, 071 309, 703 8,632 21 324,663 311,312 1,144 1,928 325,807 313,240 12, 567 28 297,371 288,396 1,474 2,354 298,845 290,75C 8,095 Aug. 4 318,481 331,907 1,230 2,269 319, 71 334,176 14,465 11 288,164 296,770 1,203 1,366 2,000 291,367 298,136 6,769 18. 317, 606 321,871 1,274 1,406 1,000 318, 880 324,277 5,397 25 320.783 329,732 1,380 1,163 ~9~ 000 331,163 330,895 268 Sept, 1. 297,398 289,221 1,446 2,416 298,844 291,637 7,207 8...... 210,093 231,697 943 1, 604 4,000 2,500 215,036 235,801 20,765 15 292,955 291,242 1,668 1,388 1,900 294,623 294,53C 93 22. 360,240 360, 111 1,368 2,144 23,000 2,000 384,608 364,25, 20,353 29. 315,214 311,972 1— 2,556 5,000 317,21 319, 528 2,317 Oct. 6 335,447 321,172 1,800 1, 337,247 323,067 14,180 13. 256,246 277,815 1,183 2,889 2,00C 257,429 282, 704 25,275 20 368,373 337,665i 1,515 1,544 5,00C 369,888 344,209 25,679 27 347.784 334,109 1,952 1,757 349,736 335,86C 13,870 Nov. 3 281,120 278, 621 1,079 662 282,19S 279,282 2,916 10 297,540 296,819 1,815 3,41! 299,35, 300,23] 876 17 304,420 302, 569j 1,487 1,48' 2,00C 305, 90: 306, 053 146 24. 321,312 318,152| 1,461 1,861 322, 77,f 320, 02C 2,753 Dec. l 271, 811 1,544 65: l,00C 273,35£ 271, 2,220 8 305,150 316, 299 1,284 1,602 306,43' 317, 901 11,467 15 311,39 313,259 1,340 2,99" 312, 73 316,256 3,525 22. 334,392 357,906 1,833 79: 38,000 5,00C 374, 22f 363,698 10, 527 29 301,810 281,654 1,345 1,24, 6,00C 303,155 288,89S 14,256 31(2 days) 118,408 137,577j 186 118,594 137, 577 18,983 Total: 1926. 16,143,586 16, 243, 742| 60, 553 86,1 157,000 54,50C16,361,13! 16,384,35: 23,212 1925_ 226, 000 25, 00C15,444,25' 15,400, 73' 43, 520 1924. 328,500| 15,20C14,365,041 14,189,21 175,831 1923. 104,500! 106,10C12,936,841 12,928,47S 8,375 I Net gain in ownership of gold since establishment of fund in 1915, $75,440,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS; PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES CO OS [Amounts in thousands of dollars] o CHICAGO DISTRICT Loans and investments Net de- Call date Total c a L n o d u o n a d n t i s s s l - Total Inve G s m U o tm v . e e n S e r t n . n t - s s O ec th u e ri r - b f D a ro n u m k e s C s a d p u n a i r r v p o d p i f i d l u t i u a t e n s s l d - , , de T p o o t s a i l ts d D e e p m os a i n t d 3 '•de T p i o m s e its U d S e n t i p a t i s t o t e e s s d - b D a t n o u k e s i [ I d d e e N m po e a s t n i d tsa a d G n m e m o d p p v a l e o u t n e n i s s m r d i t n ts e - R re b w e F e s a s e r e i e n a t d r r h k l v - v e e a c n B p o a d d a b u i is l y l n l r - e - s t e s - r b N b e a e i p u n n r o m g k r o t s - f securi- ties ties 1921 Dec. 31. 3,493, 230 2, 718,494 774, 736 303,732 471,004 247,069 574,517 3,382,800 1, 647,0851,285, 597 37,466 412,652 1, 815,004 3,138,067 235,593 233,724 1,442 1922 Mar. 10. 3, 491, 715 2,706,050 785, 665 305,205 480,460 304,804 578,532 3,582,052 1, 702, 8741, 297,553 43, 887537, 738 1, 938,330 3,279,770 250,924 106,165 1,440 June 30. _ 3, 576, 475 2, 701,147 875,328 377, 234498,094 290,833 583,672 3, 718,3871,873,385 1,336,364 18, 363490, 275 2,042, 941 3,397, 668 266,273 108,888 1,441 Dec. 29.. 3,761,915 2,761,051 1,000, 864 466,366 534,498 296,525 608,627 3, 936,7791, 947,1561,433,100 49,121 507,402 2,106,626 3, 588, 847 277, 731 116, 559 1,440 1923 Apr. 3.. 3, 887,971 2, 866, 741 1,021,230 468,409 552,821 323,115 603, 560 4, 042, 7061, 954,2191,483, 743 39, 014565, 730 2,156,223 3, 678, 980 269, 689130,052 1,437 June 30.. 3,915, 295 2, 885,472 1,029,823 478,771 551,052 306,254 605,630 4, 083,3671, 993,1971, 530, 721 37, 941521,508 2,170, 650 3,739,312 273,134 94,805 1,434 Sept. 14. 3,905, 729 2, 890, 904 1, 014, 825 479,530 535,295 300, 297 615,238 4,071,375 1, 983, 7171, 535,188 17, 458535, 012 2,170,310 3, 722, 956 282,042 97,651 1,432 Dec. 31.. 3, 909, 434 2, 877, 982 1,031,452 460, 544570, 908299,879 4,121,180 2,020,416 1,572,311 25, 441503, 012 2,150, 758 3,748,510 270,698 117,225 1,427 1924 Mar. 31. 3,940, 801 2,922, 200 1,018, 601 469,758 548, 843295,935 617,270 4,114,009 1, 939,5131, 589, 79138, 552546,153 2,147,283 3, 775, 626, 261, 675 73,621 1,423 June 30.. 4,013, 814 2,951,803 1,062,011 496,285 565,726 372,892 619,066 4,382,582 2,093,623 1,645,284 22,736 2, 284,334 3,952,354 298,035 52,130 1,422 Oct. 10._ 4,226, 782 3,078,433 1,148, 349 525,588 622,761 400,150 633,161 4,569,433 2,166,414 1,678,438 28, 753695,828 2,441,182 4,148,373 308, 679 38,549 1,419 Dec. 31.. 4, 220,172 3,038, 742 1,181, 430 526,141 655, 289365,987 617,0351 4,628,389 2,236,447 1, 732,371 35,548 624,023 2,421,316 4,189,235 314,698 51,867 1,408 1925 Apr. 6 4, 289,624 3,081,728 1, 207, 896 535,127 672,769 357,215 630, 730| 4, 598, 578 2,166,973 1,761,612 56,497 613,496 2,387,557 4,205, 666312, 949 84,284 1,407 June 30 4,382,362 3,189,462 1,192,900 512,742 680,158 375,695 630,078 4,794,593 2,320. 3151,833,638 29, 852610,788 2,476,744 4,340,234 322,224 79,464 1,404 Sept. 28 4,443,316 3,252,134 1,191,182 500,294 690,888 334,589 626,355 4,739,221 2,297,301 1, 837,642 31,319 572, 959 2,489, 929 4,358, 890319, 513 72, 928 1,406 Dec. 31 4,490, 797 3, 284,389 1, 206,408 499,050 707,358 341,102 617, 289! 4, 871,170 2,366,954 1,881,042 37,068 586,106 2, 532, 996 4,451,106 305,336 101,974 1,398 1926 Apr. 12- 4,502,797 3, 295,424 1, 207,373 484,972 722,401 337,713 629,089 4,829,502 2,289,619 1,898,341 35,324 606,218 2,517,245 4,450,910 321,071 90,148 1,379 June30_. 4, 581,827 3,376, 650 1,205,177 496, 670708,507 368,451 644,846 4,953,251 2,384,374 1,935,044 20,975 612,858 2, 554, 729 4,510, 748 342,157 101,383 1,366 Dec. 31.. 4, 551,814 3,397, 745 1,154,069 414,941 739,128 333,944 653,259| 4,884,835 2,356,341 1,935, 865 23,380 569,249 2, 509, 707 4,468, 952 310,644 117,564 1,335 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF CEDAR RAPIDS 1925 Dec. 31.. 22, 912 15,855 7,057 ! 1, 6 5,457 2,789 2,115 27,958 7,043 8,856 255 11,804 14,108 23,219 2,007 1926 Apr. 12... 23,164 16. 526 2,042 4,596 2,759 2,241 27,991 6,847 8,317 12, 819 15,458 23,783 2,082 June 30,. 22,384 15, 585 6,799 1,561 5,238 3,389 2,197 27,742 6,900 8,276 12,552 14,449 22,739 1,774 Dec. 31.. 21,946 15,035 6,911 1,277 5,634 3,388 2,150 27,972 8,273 8,753 10,938 13,635 22,396 1,822 CITY OF CHICAGO (CENTRAL RESERVE CITY BANKS) 1925 Dec. 31. 1, 567,608 1, 258,047 309, 561 154,962 154,599 117,280 218, 7331, 783,5171,004, 937 387,155 14, 822376,603 1,148,318 1, 550,295149,669 29,162 20 g I 1926 •3 Apr. 12.. 1, 516, 857 1, 205, 775 311,082 145,873 165,209 109,167 224,900 1, 690,008 904,001 392,063 11, 661382, 2831, 092,6061,496,330 148,816 23,190 21 w June 30.. 1, 576, 096 1,239, 283 336,813 164,235 172,578 135,129 227, 6251, 769, 342 979, 939 400,043 6,964 382,396 1,116,147 1, 523,154159,733 37,476 21 Dec. 31. 1,590,343 1, 295,048 295, 295 109,895 185,400 117,356 231, 2911, 808, 5971,014,015 414,174 9,222 371,186 1,155,805 1,579,201 153,502 16,975 22 CITY OF CHICAGO (RESERVE CITY BANKS) 1925 Dec. 31. 223,019 136,220 86,799 24,454 62,345 14,372 27,0471 239,030 97,138 137,695 1,313 2,884 93, 563 232,571 14,009 2,916 0 1926 Apr. 12.. 226,033 137,265! 88, 768 23, 987 64,781 14,534 27, 801 j 241,806 98,289 137,901 1,243 4,373 93,854 232,998 14,025 2,209 43 > June 30, 227,943 141,407 86,536 23,190 63,346 14,292 28,2831 241,619 139,563 683 3,327 94,924 234, 570 14,164 3,281 43 Dec. 31.. 222,173 141,832 80,341 20, 547 59, 794 13,703 28,848 i 236, 631 94, 732 137, 631 927 3,341 90,587 229,145 13,644 2,940 42 o o CITY OF DES MOINES 1925 Dec. 31. 48,506 38,436 10,070 4,272 5,798 5,019 7,018 56,212 27,822 12,487 574 i 15,329 33,997' 47,058 3,688 1926 Apr. 12.. 52,954 40,492 12,462 5,507 6,955 4,805 7,103 58,998 29,904 11,749 865 16,480 38,687 51,301 3,679 June 30- 48,616 36,649 11,967 5,585 6,382 4,575 7,043 53,205 28,298 12,109 525 12,273 35,807 48,441 4,135 Dec. 31.. 38,513 28,018 10,495 4,775 5,720 3,776 5,831 45,996 26, 255 8,835 497 10,409 29,691 39,023 2,242 856 1 Including rediscounts and overdrafts. CO 2 Including certified and cashiers' or treasurers' checks outstanding. * Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued CO C [Amounts in thousands of dollars] CITY OF DETROIT Loans and investments Net Call date Total a c L n o d u o a n d n t i s s s J - Tota I l nves G s t m U m e o c v . e e S u e n n . r r t i n t - s - s O e t c t i u h e r e s i r - b f D a ro n u m k e s s a C d u p n i a r r v d p o p i i f d l u t i u a e t n s s l d - , , d T ep o o ta si l ts 'd D e e p m os a i n ts d 2 de T p i o m s e its d U S ep n ta o i t t s e e i s d ts D ba u n e k t s o d d e e p N m o e a s t i n ts d 3, G d d e m e p o t a p i m v l m n e o u e d a n s s e r n i t n t d s - R F re e b e w s d s a e i e e n r t r r h v k v a e l e p c a B r o a y e i u n d l a n d l i b s s t l s - e r b N b e a i e p u n n r o m g k r o s t - f - I ties 1925 Dec. 31 086, 512 480,763 205,749 94,995 110, 754 38,343 78,002 747,176 332,119 363,392 10,959 40,706 323,840 698,191 36,021 28,839 15 1926 Apr. 12 697,286 498,705 198,581 92,992 105, 589 36,762 79,093 755,186 328,922 371,232 11, 853 43,179 322,052 705,137 44,392 22,590 15 June 30 717,745 538, 739 179,006 92,947 86,059 38,098 92, 790 771,808 349,177 381,619 6,821 34,191 340,108 728, 548 54,172 18,097 15 ft Dec .31 713, 239 553, 235 160,004 78,455 81,549 37,721 95,177 736, 562 313, 066 374,466 7,120 41,910 303,825 685,411 37, 521 45,817 15 I CITY OF DUBUQUE 1925 Dec. 31 9,677 4,786 4,891 | 2,035 2,856 985 1,097 10,456 3,542 5,436 3 1,475 3,876 9,314 591 2 | 1926 Apr. 12 9,882 4,857 5,025 1 2,009 3,016 658 1,139 10,296 3,560 5,429 3 1,304 4,027 9,459 572 2 w Tune 30 9,650 4,598 5,052 i 1,951 3,101 671 1,102 10,129 3,485 5,572 3 1,069 3,670 9,245 536 2 ft Dec. 31 9,442 4,534 4,908 j 1,877 3,031 1,691 1,107 11,061 3,800 5,747 3 1,511 3,960 9,710 563 2 % CITY OF GRAND RAPIDS 1925 Dec. 31 71,957 51, 745 20, 212 4,094 16,118 4,319 7,737 79,855 31,300 44,047 76 4,432 30,975 75, 098 4,655 730 6 1926 Apr. 12 72,260 53, 617 18, 643 2,641 16,002 4, 980 7,476 80,161 32, 739 42, 786 50 4,586 32,466 75,302 4,454 1,322 5 June 30 69, 739 59,073 10,666 2,064 8,602 4,561 7,348 77,722 30,704 43, 212 93 3,713 30,701 . 74,006 4,398 648 5 Dec 31 71,138 54,366 16,772 1,783 14,989 3,931 7,510 78, 741 32, 380 41,754 65 4,542 32,042 73, 861 4,791 3,472 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF INDIANAPOLIS I 1925 Dec. 31 81,477 57,470 24,007 11,665 I 12,342 10, 885 14, 694 94, 311 58, 512 12,899 1,017 21,883 62,409 76,325 4,702 1926 Apr. 12 83,911 59, 582 24,329 12,041 12,288 11, 584 14,913 93, 791 56,343 14,105 2,487 20,856 59,622 76, 214 5,740 1,620 J De u c n . e 3 3 1 0 8 9 5 3 , , 1 0 2 9 3 3 6 62 9 , , 1 3 7 0 7 2 2 2 3 2 , , 9 7 4 9 6 1 10,979 1 1 2 3 , , 8 9 1 9 2 8 1 11 4 , , 3 1 1 1 1 9 1 16 5 , , 0 5 2 0 0 0 1 1 0 0 5 0 , , 9 3 1 1 5 3 58,764 1 1 8 7 , , 2 4 7 4 5 9 1 1 , , 5 1 5 3 4 0 2 21 7 , , 0 3 6 2 5 2 6 6 7 2 , , 8 1 7 9 9 2 8 80 7 , , 7 7 7 0 1 8 6 5, , 9 4 7 8 1 5 1,7 1 6 9 6 5 CITY OF MILWAUKEE 1925 Dec. 31 188,949 142, 689 46,260 22,256 24,004 19,604 25,406 206, 772 101,338 67,180 2,480 35, 774 108,054 177, 714 12,489 1926 Apr. 12 197,912 152, 824 45,088 21,310 23,778 20,105 26,119 210, 652 102, 743 65,987 1,080 40,842 116, 591 183,658 14, 282 9,401 11 June 30 192, 742 146,125 46,617 21,626 24,991 | 20,56526,124 202, 539 97,861 67, 669 761 36,248 106, 588 175,018 13,368 12,201 11 Dec. 31 197, 553 152,443 45,110 19,154 25,956 18,249 26, 515 207, 582 102, 956 68,411 556 35, 659 110, 594 179,561 12,433 11,445 11 CITY OF PEORIA r 1925 Dec. 31 27,338 16,329 11,009 5,759 5,250 1,973 6,169 26, 526 12,012 10,079 138 4,297 13, 399 23, 616 1,678 1926 W Apr. 12 28,055 17,112 10,943 5,761 5,182 2,179 6,276 27,675 12, 828 10, 260 213 4,374 13,991 24,464 1,782 4 3 J D u e n c e . 3 3 1 0 2 2 8 7 , , 8 5 5 2 2 1 1 1 8 7 , , 1 2 6 4 2 9 1 10 0 , , 3 6 5 0 9 3 5 5 , , 2 1 6 5 7 5 5 5 , , 0 4 9 4 2 8 2 1 , ,7 1 8 3 9 3 6 6 , , 4 6 9 4 4 6 2 27 7 , , 3 9 8 2 3 0 1 1 3 3 , , 2 7 1 1 6 9 1 9 0 , , 8 0 0 60 4 1 8 3 1 0 4 4 , , 2 0 6 2 7 6 1 1 5 4 , , 1 2 9 6 7 1 2 24 5 , , 1 3 9 3 5 8 1 1 , , 8 7 4 9 6 3 4 > 4 O O CITY OF SIOUX CITY 1925 Dec. 31 22,680 16, 769 5,911 3,360 2,551 4,730 2,827 29,316 12,397 8,085 61 8,773 15,810 23,955 1,799 | 1926 Apr. 12 24,733 17,932 6,801 3,225 3,576 2,335 2,859 28,735 11,271 7,775 4 9,685 17, 557 25,336 1,823 June 30 23,791 17,001 6,790 2,996 3,794 2,766 2,864 28,174 10,366 7,942 4 9,862 16, 574 24, 520 1,873 Dec. 31 21, 343 16,033 5,310 2,700 2,610 3,390 2,868 26,409 10, 958 7,787 49 7,615 14,175 22,011 1,628 i Including rediscounts and overdrafts. CO ^Including certified and cashiers' or treasurers' checks outstanding. a Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

364 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD JVo. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (1,398 1926 (1,379 1926 (1,366 I 1926 (1,335 banks) banks) banks) I banks) RESOURCES Loans and discounts 3,282,350 3, 292,919 3,374,535 3,395, 753 Overdrafts _ 2,039 2,505 2,115 1,992 United States Government securities 499,050 484,972 496, 670 414,941 Other bonds, stocks, and securities 707,358 722,401 708, 507 739,128 Total loans and investments 4, 490, 797 4, 502, 797 4,581, 827 4, 551,814 Customers' liability on account of acceptances 24,664 27, 761 23,427 28,466 Banking house, furniture, and fixtures 139,895 144,223 148,337 152,273 Other real estate owned _ 29,058 28, 360 28, 503 26,970 Cash in vault...* _ _ 91, 279 85, 997 84, 694 85, 582 Reserve with Federal reserve bank 305, 336 321,071 342,157 310,644 Items with Federal reserve banks in process of collection. 94, 770 71,297 80,365 83,156 Due from banks, bankers, and trust companies 341,102 337, 713 368,451 333,944 Exchanges for clearing house and checks on other banks in same place _ _ 150,039 114,598 138, 400 159, 603 Outside checks and other cash items 36, 710 29,408 17,575 36,474 Redemption fund and due from United States Treasurer. 4,217 4,386 4,370 4,268 United States securities borrowed 1 3,949 4,170 7,176 6,137 Other securities borrowed * _ • 1,884 1,657 3,802 3,697 Other assets _ _ 46,264 53,371 43,425 54,131 Total 5,759,964 5, 726,809 5,872, 509 5,837,159 LIABILITIES Capital stock paid in _ 298, 776 304,495 311,151 312,650 Surplus fund _ _ 226,054 234, 694 240, 768 244,069 Undivided profits, less expenses and taxes paid 92,459 89,900 92,927 96,540 Reserved for taxes, interest, etc., accrued _. 21, 627 23, 695 21,819 25,654 Due to Federal reserve banks 2,405 2,413 1,434 2,077 Due to banks, bankers, and trust companies 583,701 603,805 611,424 567,172 Certified and cashiers'or treasurers' checks outstanding. 55,381 45,423 49,049 65,036 Demand deposits _ __ 2,311,573 2,244,196 2,335,325 2,291,305 Time deposits ___ __ 1,881,042 1,898,341 1,935, 044 1,935,865 United States deposits _ _ 37,068 35,324 20,975 23, 380 Total deposits _ _ 4,829,502 Agreements to repurchase United States Government 4,871,170 4, 953,251 4,884,835 or other securities sold 573 Bills payable (including all obligations representing 1,225 390 1,216 money borrowed, other than rediscounts) 41,257 Notes and bills rediscounted (including acceptances of 66,284 63,112 73,620 other banks and foreign bills of exchange or drafts sold with indorsement) _ _ 35,690 I 48,891 38,271 43,944 Letters of credit and travelers' checks sold for cash and outstanding 2,723 2,459 4,002 2,449 Acceptances executed for customers _ 20, 577 26,940 24,334 28, 530 Acceptances executed by other banks for account of reporting banks __ _ 3,119 2,000 782 1,581 National-bank notes outstanding 83,647 86,962 86,920 84,951 United States securities borrowed 7,713 7,465 7,176 6,137 Other securities borrowed 2,071 1,868 3,802 3,697 Other liabilities _ 26,829 26,108 23,804 27,286 Total 5,759,964 5,726,809 5,872,509 5,837,159 ^Exclusive of securities borrowed by national banks prior to June 30, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTBICT NO. 7—CHICAGO 365 No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having Banks in cities and towns having a population of— a population of— Date Total Total 5 t L h ,0 e a 0 s n s 0 1 5 4 , t , 0 9 o 0 9 0 9 15 t , o 000 a 1 n 0 d 0 , o 0 v 0 e 0 r 5 t L h ,0 e a 0 s n s 0 1 5 4 , t 0 , o 9 0 9 0 9 1 99 5 t , , o 9 0 9 0 9 0 a 1 n 0 d 0 , o 0 v 0 e 0 r 1923 Apr. 25— 2,146,144 205,967 120,119 357,912 1,462,146 1,486,694 228,128 133, 698 337, 786,902 May 23__. 2,184,854 204,180 122,236 360,748 1,497,6901 1,510,730 230,733 135,893 343,131 800,973 June 27... 2,129,969 198,363 118, 786353,142 1,459,678 1,523,014 235,515 136,826 345,945 804, 728 July 25— 2,130,485 194,245 117, 736347,163 1,471,341 1,493,296 237, 594138, 744 346, 719 770,239 Aug. 29__. 2,136,550 198,371 117,009 342,893 1,478,277 1,532,084 239,038 141,844 352,278 798,924 Sept. 26-. 2,094,949 196,469 118,275 345,289 1,434,916 1, 534, 621239,957 140,984 352,593 801,087 Oct. 24___. 2,093,682 192,565 115,664 339,758 1,445,695 1,549,917 240,851 141,494 359,338 808,234 Nov. 28... 2,055,445 186,957 111, 766330,847 1,425,875 1, 566, 777242,455 143,329 362,174 818,819 Dec. 26— 2,091,863 186,880 112,124 333,619 1,459,240 1,560,338 240,978 142,754 360,589 816,017 1924 Jan. 23—. 2,122,350 187, 663 112,489 338,427 1,483, 7711, 564,897239,907 144, 709 363,032 817,249 Feb. 27—. 2,137,427 198, 798 115, 236347,929 1,475,464 1, 581,142239,141 145, 607 365,053 831,341 Mar. 26... 2,172,537 198,195 119,006 354,495 1,500,841 1,589, 788240,918 147,090 368,342 833,438 Apr. 23—, 2,169,812 197, 59f 119,497 359,226 1,493; 4941, 601,606240,960 147,006 369,965 843,675 May28__. 2,192, 644193,981 118,994 353,161!1, 526, 5081, 619,885241,834 147,581 372,602 857,868 June 25— 2,216, 745189,634 116,056 347,392 1, 563, 6631, 636,533243,032 149,510 376,170 867,821 July 23—. 2,263,296 114,660 347,419 1, 614, 5271, 642,854245,226 150,873 377,379 869,376 Aug. 27__. 2,378,145 190,912 116,891 347,698 1, 722, 6441,645, 640247,353 151,855 378,453 867,979 Sept. 24... 2,394, 725194,300 118, 565351,542 1, 730,3181, 662,370247, 711153,106 378, 652 882,901 Oct. 29—. 2,411,790 192,160 117,664 354,456 1,747,510 1,682,211 249, 581155,000 382,941 Nov. 26... 2,352, 603190,178 116,205 352, 5311,693, 6891, 723,047250,997 155,037 385,093 931,920 Dec. 24—. 2,344,909 190,733 116,857 352,984 1, 684,3351,729,770 250,807 153,493 383,685 941,785 1925 Jan. 28—. 2,380,790 197,265 115,948 354,239 1,713,338 1,735, 739251,417 152,920 388,228 943,174 Feb. 25— 2,414,286 205,386 119,429 369, 6621, 719,8091,743,459 250,383 153,837 390,298 948,941 Mar. 25... 2,382,909 204,800 124,338 381,370 1, 672,4011,762,222 251, 582155,034 392,972 962,634 Apr. 22.... 2,384,717 201,836 123,927 384,988 1, 673,9661, 767, 731252,824 155,001 392,298 967,608 May 27... 2,391,294 199,776 128,218 384,742 1, 678,5581,814,574 255,158 155,984 394,801 1,008,631 June 24._. 2,425,469 197, 252 124,152 382,062 1,722,003 1,826, 655257,401 157, 776397,850 1,013,628 July 29—. 2,448,515 194, 768 125,496 377,128 1, 751,1231,820,550 259,702 159,048 398,883 1,002,917 Aug. 26__. 2,469, 803197,613 126, 757380,128 1, 765,3051,824,630 260, 565162,175 399, 622 1,002,268 Sept. 23... 2,465, 508198,076 127,291 382,363 1, 757, 7781, 835,341261,543 163,700 401,334 1,008, 764 Oct. 28.... 2,471,086 196,947 125, 631382,339 1, 766,1691,859,829 262, 726 401,957 1,032,277 Nov. 25... 2,449, 631193, 928 124,402 382, 2321, 749,0691,877,294 260,787 164,013 404,410 1,048,084 Dec. 23— 2,429,093 193,132 125, 509384,387 1,726,065 1,883,019 260,532 163,702 401, 678 1,057,107 1926 Jan. 27—. 2,429,995 196,635 125, 542 1, 719,1201,883,018 259,432 164,500 402, 656 1,056,430 Feb. 24.... 2,469,183 204,496 128,306 400,091 1,736,290 1,883,284 258,106 164,371 405,648 1,055,159 Mar. 24... 2,412,260 205,035 130,447 403,450 1,673,328 1,892,013 258,210 166,393 408,149 1,059,261 Apr. 28.... 2,463,012 204, 781 133,431 404,122 1,720,678 1, 883,491258,790 167,955 407,169 1,049,577 May26__. 2,496, 751201,318 134,129 403, 5041,757,800 1,904,508 258, 582168,464 409, 760 1,067, 702 June 23. _ . 2,472,402 197,940 132, 582402, 8171, 739,0631,928,196 258,983 171, 508412,500 1,085,205 July 28..-. 2,495, 601195, 723 132,218 392,069 1, 775, 5911,941,063 260,111 172, 580411, 793 1,096,579 Aug. 25__. 2,538,008 195,952 133,715 389,934 1,818,407 1,946,900 259,932 174,779 414,288 1,097,901 Sept. 22... 2, 543,217196,183 133,934 394,603 1,818,497 1,942,804 259,622 174, 631416,062 1,092,489 Oct. 27.... 2,504,864 193,995 133,199 390,292 1,787,378 1,946," " 258,303 174, 503417,623 1,096,340 Nov. 24... 2,473, 717186,138 128,893 382, 5531, 776,1331,951,275 257,310 175,453 416,343 1,102,169 Dec. 29— 2,448, 535181, 701 126, r- 382,061 1, 758,0801,938,233 254,418 174,506 412,927 1,096,382 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Loans and investments Net demand, time, and Government deposits Reserves Borrow- Date (Wednesday) Loans e w ra i l t h re F se e r d v - e i F ng e s de f r r a o l m 3 Total Total On t s ie e s curi- All other I m nv e e n s t t s - Total N m e a t n d d e- Time Go m v e e n r t n- bank r b es a e n r k ve C > tr1 j Weekly averages: 1922__ 2,179,921 1,574,784 541,876 1,032,908 605,137 2,104,692 1,394,230 685, 575 24,887 189,536 25,770 1923 2, 382, 637 1,748,345 613,548 1,134,797 634,292 2, 293,479 1,493,391 778, 921 21,167 203,327 48,205 1924__ 2, 516, 530 1,840,099 666,750 1,173,349 676,431 2,483,367 1, 621, 769 843,930 17,668 224,059 13, 746 1925 2, 778,115 2,017,650 1,218,762 760,465 2, 752,166 1, 758,949 972, 714 20,503 241,173 31,693 1926 2, 889,198 2,129,980 869,120 1,260,860 759, 218 2,842,520 1, 778, 545 1, 044, 494 19,481 244,803 50,746 1926 Jan. 6__ 2,846, 253 2,086,955 868,594 1,218,361 759, 298 2,796,259 1,747,454 1,021,229 27, 576 246,992 89,335 13 2,839,461 2,085,296 850,225 1,235,071 754,165 2,814,267 1,770,707 1,017,901 25, 659 240,745 39,309 20 2,825,183 2,072,405 846,631 1,225,774 752, 778 2,815,612 1,773, 554 1,016, 399 25, 659 248,668 35,901 27._ 2,825, 776 2,060,479 841,369 1,219,110 765,297 2, 774, 733 1, 723,991 1,025, 083 25, 659 246,041 58,622 b Feb. 3 2,828,149 2,070,154 839,419 1,230,735 757,995 2, 788, 514 1,734, 533 1,028, 322 25, 659 244,689 50,928 1 1 0 7 2 2, , 8 8 4 4 1 5 , ,0 3 7 6 1 7 2 2, , 0 0 8 8 7 6 , , 8 4 6 9 3 8 8 84 4 5 0 , , 9 4 4 6 5 8 1 1 , , 2 2 4 4 1 6 , , 9 0 1 3 8 0 7 75 5 3 8 , , 5 57 0 3 4 2 2 , , 8 8 1 1 0 7 , , 3 6 3 1 84 1 1 , , 7 7 5 5 4 4 , , 4 3 8 2 2 6 1 1. , 0 0 3 3 7 0 , , 3 2 7 4 6 3 2 25 5 , , 6 6 5 5 9 9 2 2 3 3 3 9 , .1 2 1 1 9 0 4 4 1 5, , 8 7 9 1 1 7 > 24.__ 2,825, 265 2,066,459 841,642 1,224,817 758,806 2,810,584 1, 750,013 1,034, 912 25,659 233,593 35,116 tr1 Mar. 3 2,853, 629 2,089,761 853,981 1,235,780 763,868 2,809,237 1,747,497 1,036,081 25,659 242, 354 63,743 10 2,854,991 2,090, 651 853,819 1,236,832 764,340 2,831,195 1, 769, 654 1, 035, 882 25, 659 238,915 43,841 17 2.853,198 2,073,822 826,597 1,247,225 779, 376 2,837, 330 1, 762,847 1, 040,245 34,238 243, 561 34,538 24 2,804,453 2,047,833 813,080 1,234,753 756,620 2,751,329 1, 685,965 1.038, 963 26.401 232.120 55,013 31 2, 793,853 2,063,802 816,894 1,246,908 730,051 2, 707,703 1,678,325 1,002,976 26.402 223,632 87,384 Apr. 7... 2,810,630 2,066,887 815,546 1,251,341 743, 743 2,766,878 1, 719, 364 1,021,112 26,402 240,124 56,661 14... 2,851, 387 2,086,605 836,862 1,249,743 764,782 2,815,091 1, 755,920 1,032, 869 26,302 232,209 43,175 21___ 2,822,036 2,073,213 831,246 1,241, 967 748, 823 2, 784, 058 1, 724,057 1,038,288 21, 713 225,805 34,292 28... 2,820,666 2,073,404 813,876 1,259, 528 747,262 2,777,372 1,724,789 1,030, 873 21, 710 230,476 34,445 May 5_._ _ 2, 828,176 2,077,804 814,310 1,263,494 750,372 2,802,158 1, 746,402 1,034,993 20, 763 255,664 42,108 12. 2,856, 352 2,105,779 843,826 1,261,953 750,573 2,834,000 1, 782,499 1,032,253 19,248 236,075 30,555 19 2,854,258 2,103,807 836,259 1,267, 548 750,451 2,824, 514 1, 774, 987 1,032, 799 16, 728 251,019 30,646 26 2,848,374 2,091,302 834,882 1,256,420 757, 072 2, 811, 791 1, 760,843 1,034,417 16, 531 236,350 25,973 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

June 2. 2,857,948 2,097,126 829, 398 1, 267, 728 760, 822 2, 825, 664 1, 771,333 1,037,800 16,531 227,708 28,419 9. 2,848,295 2,092,648 817,909 1,274,739 755,647 2,820, 714 1,760,685 1,043,498 16,531 248,893 21,229 16. 2,876,287 2,124,965 845,486 1,279,479 751,322 2, 873,924 1,811,075 1,046,318 16, 531 20,099 23 2, 852,148 2,100,927 839,217 1,261, 710 751,221 2, 813,053 1, 747,061 1,046,464 19,528 252,923 44,093 30 2,909,050 2,123,643 846,403 1, 277,240 785, 407 2, 869,964 1,803,108 ], 052, 337 14,519 258,611 65,418 July 7. 2,877,601 2,118,438 848, 752 1, 269,686 759,163 2,836, 768 1, 771, 588 1.051, 375 13,805 232,675 36,461 14. 2,891,497 2,134,630 863,885 1,270,745 756,867 2, 881.171 1, 811, 538 1,056,925 12, 708 253,208 29,556 21. 2,905,264 2,147,126 868,437 1,278,689 758,138 2,866, 066 1,796,116 1,056,145 13,805 242,551 31,229 28. 2,904,686 2,145,958 875,308 1,270,650 758, 728 2,849,287 1, 779, 746 1,055, 736 13,805 239,113 32,927 Aug. 4. 2,915, 785 2,161,454 892, 033 1, 269,421 754,331 2, 875, 649 1,806,400 1,055, 444 13.805 247,080 31, 031 11. 2, 949,115 2,194,832 906, 027 1, 288, 805 754, 283 2, 921, 007 1, 854, 643 1,055, 246 11,118 248, 724 29,400 18. 2, 949,876 2,189, 595 904, 743 1,284,852 760,281 2, 910,916 1,845,465 1,055, 948 9,503 254,019 35,746 25. 2, 934,941 2,171,098 914,302 1,256,796 763,843 2,880,214 1,817,360 1,055,711 7,143 265,386 46,722 Sept. 1. 2,944, 781 2,181,362 922. 768 1, 258, 594 763,419 2, 887, 711 1, 824, 801 1, 055, 767 7,143 247,443 48, 571 8. 2, 951,134 2,184, 759 920, 390 1, 264, 369 766,375 2,898, 880 1,835,356 1,056,381 7,143 253, 749 36. 727 I 15. 2,980, 521 2,199,300 923,388 1, 275, 912 781,221 2, 977, 281 1,897,464 1,050, 273 29,544 271, 724 33,191 22. 2,963, 533 2,188,327 914, 753 1, 273,574 775,206 2, 900, 343 1,818, 535 1, 052, 264 29,544 244, 584 48,063 29. 2, 953,063 2,170,908 901, 220 1, 269, 688 782,155 2,885, 702 1,805, 536 1, 050, 622 29, 544 267,270 61,921 Oct. 6. 2,971,823 2,186,538 914, 048 1, 272, 490 785, 285 2, 901, 515 1, 819. 376 1.052, 595 29,544 256, 603 68,422 13. 2,958, 743 2,175,382 904,140 1, 271, 242 783,361 2, 926, 539 1, 841,457 1,057,808 27,274 253, 969 55,155 H 2 2 0 7 . . 2 2 , , 9 9 5 4 4 7 , , 3 4 0 6 7 2 2 2 , , 1 1 8 91 8 , , 1 0 7 5 6 4 9 9 1 1 6 6 , , 8 2 2 0 7 1 1 1 , , 2 2 7 7 4 1 , , 9 2 7 2 5 7 7 7 6 5 3 9 , , 1 4 3 0 1 8 2 2 , , 8 8 5 7 8 8 , , 4 9 2 3 01 1 1 , , 8 7 0 8 1 6 , , 5 4 1 8 6 3 1 1. , 0 0 5 5 5 6 , , 0 8 8 7 4 9 1 1 6 9 , . 9 8 2 0 6 6 2 2 4 4 7 1 , , 9 8 7 9 5 7 7 5 8 7 , , 0 2 5 5 6 8 O Szj Nov. 3. 2,942,240 2,180, 861 919,193 1, 261, 668 761,379 2, 863, 677 1, 789, 111 ,057,640 16,926 252,435 101,985 10. 2,938, 685 2,171,835 901, 510 1, 270, 325 766,850 2, 855, 819 1, 781, 561 , 059, 946 14,312 248,473 61,816 17. 2,941,309 2,179.472 905, 301 1, 274,171 761, 837 2, 860, 950 1, 789, 671 , 061, 272 10,007 242,863 70,891 24. 2,938, 301 2,184,584 905,104 1, 279,480 753, 717 2,847, 238 1,774,943 , 062, 288 10,007 240, 775 74,777 s Dec. 1. 2,933,291 2,186,044 902,093 1, 283,951 747,247 2, 855,176 1, 786, 058 ,059,111 10,007 247,043 84,231 8. 2,932,470 2,185,016 1, 286,215 747,454 2,852,077 1,784, 570 , 057, 500 10,007 235,754 66,830 15. 2,944,956 2,187,141 906,840 1,280,301 757,815 2,893,972 1,816.274 , 060,681 17,017 252,350 67,134 22. 2, 910, 033 2,177,357 898, 529 1, 278, 828 732, 676 2, 829,149 1, 755, 602 1.056, 550 16,997 246,686 88,334 29. 2,930, 602 2,177, 577 905, 720 1, 271,857 753,025 2, 833, 581 1, 757, 735 1, 058,849 16,997 247,042 103,938 CO 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Borrow- Month Reserves ings from Loans with Fed- Federal Total On I m n e v n es t t s - Total de N m e a t nd Time Go m v e e n r t n- era b l a r n es k erve re b s a e n r k ve Total securities All other 1922 January 2,089,014 1,576,384 502,979 1.073,405 512,630 1,952,604 1,275,039 651,473 26,092 172,480 72,569 February. _ 2,108,852 1, 565,235 510,712 1,054,523 543,617 2,001,034 1,301,985 654, 073 44,976 180,992 33,419 March _ 2,106,140 1,566,533 507,461 1,059,072 539,607 2,029,633 1,335,483 661,421 32, 729 187,292 23,890 April... 2, 084,846 1, 539,788 481,481 1,058,307 545,058 2,006,200 1,324,409 658,310 23,481 177,824 24,950 May 2,167, 780 1, 584,878 520, 704 1, 064,174 582, 902 2, 094,945 1,409,559 664,731 20,655 189,670 16,207 June 2,159, 523 1,558,338 538,172 1,020,166 601,185 2,106,782 1,403,394 675,388 28,000 185,994 10,692 July.- 2,166,304 1, 557,994 539, 586 1,018,408 608,310 2,135,043 1,442,331 680,383 12,329 199,954 7,962 August... 2, 218,198 1,566,486 561,955 1,004,531 651, 712 2,159, 665 1, 445,142 694,170 20,353 198,843 10,699 September 2,215, 784 1, 564,466 559,144 1,005,322 651,318 2,169,805 1,449,450 700,133 20,222 195,884 14,318 October 2,265, 759 1,611,444 593, 526 1,017, 918 654,315 2,186,822 1,453,381 713,007 20, 434 191,377 28,638 November.. 2,267, 616 1,603,326 594,826 1,008,500 664, 290 2,184, 295 1,433,966 732, 776 17, 553 192, 097 31,965 December 2,299,216 1, 597,012 587,606 1.009,406 702, 204 2, 217,041 1,444,813 738,342 33,886 199, 586 39,014 1923 January 2,332,383 1, 677, 076 600,985 1, 076,091 655,307 2,288,775 751,297 28,870 207,672 23,919 February.. 2, 347, 642 1,676,991 583,341 1,093, 650 670,651 2, 290,190 1, 517, 081 757, 988 15,121 207, 766 29,045 March 2,381, 201 1,717,322 589,320 1,128, 002 663,879 2,289,286 1,499, 327 768,351 21, 608 204,140 54,254 April 2,394,475 1,748,363 599,685 1.148, 678 646,112 2,291,187 1,491, 660 772,373 27,154 ?05,855 55,965 May 2,432,684 1,795,235 632,383 1,162, 852 637,449 2,337, 917 1, 522,459 781,797 33, 661 206,803 52, 559 June 2,409,395 1,768,676 620, 896 1,147, 780 640,719 2,309, 301 1,497,455 783, 717 28,129 204,002 50,316 July.. 2, 398,306 1, 758,539 618,062 1,140,477 639,767 2,316,885 1, 507, 221 785,864 23,800 204,920 47.202 August 2,380,183 1,751,927 615,940 1,135,987 628,256 2, 287, 382 1,488,910 780,908 17, 564 200,058 41,959 September 2,387,314 1,766,710 616, 715 1.149, 995 620, 604 2,292,916 1,491,863 781,494 19, 559 196,481 43,205 October _ 2,384,971 1,780,904 621,626 1,159,278 604,067 2,264,035 1,459,775 787,617 16,643 196,448 72,016 November 2,372,835 1,772,586 629,406 1,143,180 600,249 2,272,221 1,469,875 795,375 6,971 202,817 55, 776 December 2,370,336 1,762,865 630, 034 1,132, 831 607,471 2,280, 605 1, 464,911 11, 906 203, 538 52,839 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 2,363,762 1,751,742 640,495 1,111,247 612,020 2,305,544 1,493,238 797,247 15,059 205,877 28,011 February-- 2,369,307 1,758,222 633,107 1,125,115 611, 085 2, 324, 697 1, 506,049 13,162 204,269 18,743 March 2,409,788 1,785, 509 637,924 1,147, 585 624, 279 2, 350,821 1, 520, 016 808,352 22,453 208,824 24,590 April 2,422,431 1,793,290 630,294 1,162,996 629,141 2, 357, 026 1, 510,914 816,073 30,039 207, 514 26,321 May. 2,443,149 1,805,662 641,274 1,164,388 637,487 2, 400, 306 1, 552,384 827, 310 20,612 210,297 19, 508 June... 2,438,048 1,795,842 630, 242 1,165, 600 642, 206 2, 417, 981 1, 566, 307 837, 508 14,166 225,074 12,080 July.__ 2,493,947 1,824,366 653, 719 1,170,647 669, 581 2, 481, 201 1, 626, 354 841, 310 13, 537 228,285 5,806 August 2, 569,963 1,882,436 690, 525 1,191, 911 687, 527 2, 562, 001 1, 706, 010 843, 528 12,463 238, 534 4,350 September 2, 629,194 1,922,494 711,789 1,210,705 706, 700 2, 616, 223 1, 749, 628 850, 749 15, 846 243. 019 3,888 October #. 2,686,731 1,940,361 724,443 1,215,918 746, 370 2, 660, 782 1, 769, 510 872,231 19,041 236,182 2,687 November 2,666,630 1,905,407 702, 616 1,202,791 761,223 2,646,911 1, 730, 839 902,391 13,681 239, 526 3,821 December 2, 687,492 1,910,842 700,621 1,210,221 776, 650 2, 663, 988 1, 725,749 918, 541 241, 529 13,294 1925 January 2, 706,007 1,935,686 730,622 1,205,064 770, 321 2,692,325 1,751,249 918, 740 22,336 241,067 12,622 February 2,724,476 1,941,422 727, 595 1,213,827 783,054 2, 705,161 1, 756, 749 927, 343 21,069 231,985 9,236 March 2, 718,148 1,952,454 739,066 1, 213, 388 765, 694 2, 701, 975 1, 733,035 935,373 33, 567 232,268 12,779 2 April 2,706,365 1,936, 579 727, 512 1, 209, 067 769, 786 2,670,075 1,690, 949 942, 746 36,380 229,341 29,026 May 2,759,051 1,994,531 773,572 1,220,959 764, 520 2, 740,157 1,736,941 980,380 22,836 237, 505 20,106 o June 2,783,489 2,011,267 797, 392 1, 213,875 772,222 2, 766,671 1,758,818 987, 565 20,288 244,407 28,176 July 2,787,842 2,023,093 807,452 1,215, 641 764, 749 2, 766,867 1, 771,146 978,115 17,606 246,939 34,665 August 2, 786,943 2,038,128 817, 401 1,220,727 748,815 2, 773,119 1, 784,961 976,182 11,976 251,353 31,043 September 2,818,993 2,068,641 837,992 1,230,649 750,352 2, 788,846 1, 791, 551 979, 858 17,437 243,346 32,087 October 2,843,106 2,099, 626 862,567 1,237,059 743,480 2,807,499 1, 795, 613 997, 744 14,142 248,117 47,953 November 2,843, 624 2,105,328 879, 906 1,225,422 738, 296 2, 810, 557 1, 789,821 1,014,488 6,248 243,226 40,942 December 2,847,306 2,092,480 872,983 1,219,497 754,826 2, 798, 767 1, 753, 678 1,025, 254 19,835 244,640 71, 550 O W 1926 H January 2,834,168 2,076,284 851, 705 1,224, 579 757, 884 2,800, 217 1, 753,926 1,020,153 26,138 245, 612 55,792 February. 2, 834,963 2,077,743 841,868 1,235,875 757,220 2,806,710 1,748,338 1,032,713 25,659 237,653 43,413 o March 2,832, 025 2,073,174 832, 874 1,240,300 758, 851 2, 787,359 1, 728,858 1,030,829 27,672 236,116 56,904 o April 2,826,180 2,075,028 824,383 1,250,645 751,152 2, 785,851 1, 731,033 1, 030,786 24,032 232,154 42,143 o May 2,846, 790 2, 094,673 832, 319 1,262,354 752,117 2, 818,116 1, 766,183 1,033,616 18,317 244, 777 32,320 June 2, 868, 746 2,107,862 1,272,179 760, 884 2, 840, 663 1, 778, 652 1,045,283 16, 728 245,402 35,850 July 2,894, 762 2,136, 538 864,095 1,272,443 758,224 2, 858,323 1, 789, 747 1, 055,045 13, 531 241, 887 32,543 August 2,937,429 2,179,245 904, 276 1, 274,969 758,184 2,896,946 1,830, 967 1,055, 587 10,392 253,802 35, 725 September 2,958,606 2,184,931 916, 504 1,268,427 773, 675 2,909,983 1, 836, 338 1,053,061 20,584 256,954 45,695 October 2,958,084 2,185,288 912, 804 1,272,484 772, 796 2, 891,187 1, 812, 208 1,055, 592 23,387 250, 111 64,723 November. 2,940,134 2,179,188 907, 777 1,271,411 760,946 2, 856,920 1, 783, 821 1,060,286 12, 813 246,137 77,367 December 2,930,271 2,182,628 902, 397 1, 280,231 747, 643 2, 852, 790 1, 780,047 1, 058, 538 14, 205 245, 775 82,093 GO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN CHICAGO—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS CO [Irl thousands of dollars] O Loans and investments Net demand, time, and Government deposits Reserves Borrow- Date (Wednesday) Loans F re w e s d e i e t r h r v a e l in F r g e e s s d e f e r r r v o a e m l D b u an e k t s o b f D a ro n u m k e s Total Total c O ur n i ti s e e s - All other I m nv e e n s t t s - Total de N m e a t nd Time bank bank 1926 Jan. 6.. , 707, 495 1,337,473 656, 920 680, 553 370,022 1, 675, 362 1,162,361 499,078 13, 923 168,219 46,436 385,953 160,211 13. ,701, 468 1,332,904 641, 453 691,451 368,564 1, 689, 253 1,177,116 499,190 12,947 165,355 15,165 377,925 156, 545 20. , 687, 978 1,321,512 633, 509 688,003 366,466 1, 685, 833 1,173,263 499, 623 12, 947 164,964 10,102 376, 992 153,839 27.. , 689,084 1, 313,578 634,132 679, 446 375, 506 1,665,726 1,144,123 508, 656 12,947 171,411 20,118 362, 812 146, 868 Feb. 3. ,689,195 1,317,428 684, 769 371, 767 1,675,211 1,150,175 512,089 12, 947 169, 700 16,518 376,213 143,169 10. , 704,021 1, 329, 597 632, 935 696, 662 374, 424 1, 687, 538 1,162, 630 511,961 12, 947 162, 691 21, 299 374, 458 140,087 17.. , 692, 258 ,321,175 636, 418 684, 757 371, 083 1,681,698 1,149,963 518, 788 12,947 160,627 21, 538 374, 270 161,187 24- ,681,760 , 304, 929 630, 234 674, 695 376, 831 1, 681, 873 1,152,432 516,494 12,947 162,017 10,134 384, 405 152, r,83 Mar. 3. , 701, 714 , 319, 211 642,155 677,056 382, 503 1, 681, 739 1,152, 200 516, 592 12, 947 170,316 40,015 403, 878 163, 705 10. ,701, 599 ,317,602 639,015 678, 587 383, 997 1,696,522 1,169,398 514,177 12, 947 167,055 16, 656 385,271 147,037 17.. , 684, 748 , 299, 284 614,037 685, 247 385, 464 1,672,304 1,140, 757 516, 724 14, 823 169,006 16, 456 386, 877 159, 544 24.. , 647,134 . 283, 788 600, 247 683, 541 363, 346 1, 628, 556 1,103, 771 513, 424 11,361 162,140 20,082 363,046 143, 911 31-. , 641, 759 , 292, 238 604, 788 687, 450 349, 521 1, 582,193 1, 090, 346 480, 485 11,362 152, 364 44, 558 398,371 136, 521 Apr. 7.. , 660,054 , 298,131 602, 964 695,167 361, 923 1, 637, 902 1,130, 666 495, 874 11, 362 163, 549 21, 291 405,408 144, 540 14.. , 689, 369 , 308, 469 621, 727 686, 742 380, 900 1, 666, 299 1,151,851 503,096 11,352 157,145 16, 259 396,112 156,112 21. ,662,617 , 298, 874 618,002 680, 872 363, 743 1, 642, 450 1,127,654 505, 451 9,345 154, 563 9,274 364,449 150,848 28. , 664, 236 , 296,144 601,977 |694,167 368, 092 1,649,527 1,138, 409 501, 776 9,342 158,173 8,631 366,957 161, 398 May 5.. ,670,542 , 299, 53« 602, 423 697,113 371,006 1, 672, 567 1,160,974 502, 690 8,903 182, 876 9,768 402, 844 173, 945 12. ,701,319 ,331,046 628, 898 702,148 370, 273 1, 687, 639 1,177, 730 501, 395 8,514 161, 832 9,884 380,208 167, 236 19. 1, 696, 841 , 327, 236 623, 813 703, 423 369, 605 1, 682, 267 1,173,869 501,000 7,398 173, 236 13,631 368,162 159,069 26. 1,694,008 , 319, 766 621, 543 698, 223 374, 242 1, 677, 796 1,169, 420 501, 316 7,060 164,410 7,537 368,278 161,179 June 2.. J 1,707,348 1, 329, 761 619,113 710, 648 377, 587 1, 682, 513 1,175,075 500,378 7,060 151,168 8,158 390,429 174,025 9 1, 697,130 1, 325, 717 608, 790 716, 927 371, 413 1, 680,224 1,169, 979 503,185 7,060 174,484 2,365 382,170 167,058 16.. 1, 721, 515 1, 352, 368 633,107 719, 261 369,147 1,698,300 1,186,407 504, 833 7,060 162, 207 6,788 380,999 182, 862 23.. 1,701,078 1, 332, 340 630, 864 701, 476 368, 738 1. 680, 982 1,164,137 506, 788 10,057 179, 299 21, 524 362,162 153,441 30.. 1,738,458 1, 334, 900 633,831 701,069 403, 558 1, 705, 257 1,184,987 514, 041 6,229 170, 611 33, 437 391, 953 164,011 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7 [ 1,715,791 1,341,370 632, 902 708, 468 374,421 1,690,183 1,169, 471 514, 781 5,931 154, 695 14, 362 394,065 161,182 H 1,723,367 1,353,916 646, 539 707, 377 369, 451 1, 710, 286 1,184,487 520, 330 5,469 169, 405 10, 731 377,410 160,757 21 1,742,513 1, 372, 235 652, 892 719, 343 370, 278 1, 718, 564 1,190, 723 521, 910 5, 931 168,797 15,676 361, 514 155,050 1, 744, 239 1, 372, 997 660,064 712, 933 371, 242 1, 716, 744 1,188, 287 522, 526 5, 931 161, 076 9,541 360,258 151, 532 Aug. 4.. 1, 750, 865 1, 384, 464 675,229 709, 235 366,401 1, 725, 725 1,197,053 522, 741 5,931 164,515 6,561 374, 678 150,929 11.. 1, 781, 210 1, 415, 772 727, 314 365, 438 1, 753, 269 1, 226, 111 522, 375 4,783 169,092 11,472 387,232 147,139 18.. 1, 771,070 1, 400,792 684, 594 716,198 370,278 1, 744, 502 1, 217, 484 522, 930 4,088 177, 690 20, 642 362, 637 146, 653 25. 1, 765, 854 1, 394,051 694, 974 699,077 371, 803 1, 741,168 1,217,478 520, 426 3,264 179, 755 21, 267 362, 420 150, 772 Sept. 1.. 1, 770, 932 1, 398, 853 702, 603 696, 250 372,079 1, 747, 446 1, 223,137 521,045 3,264 174,174 16, 937 364, 596 149,880 8.. 1, 778, 985 1, 404,180 700,380 703, 800 374, 805 1, 761, 894 1, 238, 249 520,381 3,264 177, 092 6,675 385, 706 149, 386 15.. 1, 804,103 1, 416, 256 702,197 714,059 387, 847 1, 790,180 1, 258, 900 516,131 15,149 187, 244 10, 221 385,096 170,043 22.. 1,789,491 1, 406, 838 691, 630 715, 208 382, 653 1,761,930 1, 230,158 516, 623 15,149 173, 397 13,936 367, 812 148,107 29.. 1, 777, 986 1, 388, 385 678,044 710, 341 389, 601 1, 756, 785 1, 227, 721 513, 915 15,149 192, 733 27,079 369, 817 141,112 Oct. 6.. 1, 793, 263 1,400, 991 687, 446 713, 545 392, 272 1, 759, 476 1, 228, 499 515, 828 15,149 180, 914 31,061 380,156 153,020 13.. 1, 778, 991 1, 389, 961 677, 400 712, 561 389, 030 1, 762, 943 1, 228,110 520, 681 14,152 175, 681 26, 653 365, 972 172,337 20.. 1, 775, 471 1, 405,102 690, 322 714, 780 370, 369 1, 744, 986 1, 215, 990 518,319 10, 677 167,045 12, 213 349, 836 153,376 27.. 1, 772, 742 1, 403,811 694, 288 709, 523 368,931 1,741,342 1, 216,334 515, 838 9,170 177,341 32,036 342,924 143,591 Nov. 10 3 . . . 1 1 , , 7 7 6 6 7 1 , , 0 8 6 6 4 6 1 1, , 3 3 9 8 5 5 , , 9 9 7 9 21 6 6 9 7 8 6 . , 4 7 5 1 7 3 6 7 9 0 7 9 , , 0 5 0 4 8 2 3 37 7 1 6 , , 1 0 4 6 5 5 1 1 , , 7 7 3 3 5 5 , , 8 9 8 7 2 9 1 1 , , 2 2 0 0 7 7 , , 2 2 5 2 1 1 5 52 1 0 9 , , 9 5 4 5 6 8 9 7 , , 1 7 7 1 0 5 1 1 8 7 0 4 , , 1 5 5 1 6 2 4 1 8 0 , , 6 6 1 3 9 5 3 3 5 4 8 9 , , 2 2 5 3 9 5 1 1 4 6 6 0 , ,4 2 2 2 0 7 M O 17.. 1, 763, 221 1,389,302 682, 016 707, 286 373, 919 1, 732, 805 1, 206, 333 521,075 5, 397 167,256 20, 800 351,127 166,301 H 24.. 1, 761, 229 1, 394, 225 681,124 713,101 367,004 1, 732, 404 1, 208, 650 518, 357 5, 397 170, 583 23, 549 338, 316 145, 372 Dec. 1. 1, 760, 525 1, 398, 895 679, 470 719, 425 361, 630 1, 736, 448 1, 215,079 515, 972 5,397 175,021 32, 682 341, 286 163, 574 8.. 1, 762, 797 1, 400,119 675, 297 724, 822 362, 678 1,740,428 1, 218, 736 516, 295 5,397 164, 596 12, 721 342,166 138,101 15.. 1, 771, 863 1, 397,133 682,193 714, 940 374, 730 1, 752, 505 1, 222, 649 521, 294 8, 562 177, 478 24, 763 346,396 160,370 22.. 1, 748, 392 1,394,622 675,365 719, 257 353, 770 1, 725, 775 1,192, 306 524, 907 8,562 170,341 24, 987 342, 768 150, 478 29.. 1, 767, 292 1, 391, 998 681,060 710, 938 375, 294 1, 735, 311 1,199, 202 527, 547 8,562 177,600 42, 756 363,067 150, 876 o W M Q > O O CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14a.—REPORTING MEMBER BANKS IN THE CITY OF CHICAGO: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS 00 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Net demand, time, and Government de- Loans and investments posits Reserves Borrow- Month Total Loans I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- F re b e w s a d e i n e t r h k r v a e l F re b f e i s r a n d o e n g e m r k r s v a e l D b u an e k t s o b f D a ro n u m k e s Total c O u n ri t s i e e - s o A th l e l r o 1922 January 1, 269,124 1,049, 362 369,375 679,987 219, 762 1,215,340 882,021 313,502 19,817 122,411 26,510 300,670 136,110 M Fe a b r r c u h ary 1 1 , , 2 2 9 9 4 9 , , 1 2 6 9 75 1 1 , . 0 0 4 5 6 4 , , 8 3 2 8 7 6 3 37 8 6 1 , , 1 6 8 8 1 0 6 67 6 7 5 , , 6 7 4 0 6 6 2 24 4 5 7 , , 3 2 0 8 2 9 1 1 , , 2 2 5 5 0 9 , , 0 1 0 6 5 9 9 9 0 1 2 9 , ,4 3 8 2 8 0 3 31 1 5 4 , , 0 7 8 8 1 0 2 33 3 , , 9 6 0 0 1 4 1 1 3 3 0 2 , , 4 0 9 3 4 0 9 7 , , 1 55 5 4 6 3 3 3 4 3 4 , , 8 4 9 0 2 3 1 13 3 3 5 , , 9 2 2 9 2 0 W April 1, 275, 853 1,031,021 354,863 676.158 244,832 1, 232, 805 904, 635 311,476 16, 694 124, 955 9,597 324,440 133, 531 May 1,352,401 1,075, 548 391,989 683, 559 276, 853 1, 309, 731 980, 753 313, 951 15,027 135,493 7,300 333, 795 138,016 June 1, 341, 292 1.055, 773 406,241 649,532 285, 519 1, 301, 949 960,499 321,290 20,160 129, 893 5,018 336, 363 148, 519 July 1, 333,289 1,048,293 403,497 644, 796 284, 996 1,311,220 980,939 321, 734 8,547 141, 772 4,543 334, 501 150,421 u August 1, 370,964 1,059, 240 425, 362 633, 878 311,724 1, 336, 393 991,229 331,131 14,033 138, 358 3,610 336,937 144, 537 September _ _ 1, 363, 712 1,055,987 425,122 630, 865 307, 725 1, 337, 375 994,010 329, 627 13, 738 139,115 6,225 322, 575 146,839 October 1, 392,819 1,090,467 459,203 631,264 302, 352 1, 348, 533 999, 266 337, 336 11,931 134, 611 14,472 310, 989 160,668 November. __ 1, 385,805 1,078, 609 456, 267 622, 342 307,196 1, 348, 672 986, 757 352,154 9,761 135, 619 9,205 300,924 149, 524 f1 December. _ 1,402,729 1,065, 716 448, 557 617.159 337,013 1, 369,182 993,432 355, 656 20,094 142,933 13,182 316,841 153,067 1923 January.. _.. 1, 427,277 1,082,928 458, 539 624, 389 344, 349 1,413,218 029,596 365,253 18, 369 146,870 5,771 357,977 156, 765 GO February 1,430,444 1,078,438 440,247 638,191 352,006 1, 398, 395 022, 758 365, 630 10,007 145, 370 16, 941 364,191 148, 310 March .. _ 1,454, 590 1, 111, 636 445,410 666, 226 342,954 1,401, 303 015,106 373, 897 12, 300 143, 299 33, 842 356,179 144, 594 April 1,458,476 1,134, 640 454, 784 679,856 323, 836 1, 392,142 005,004 373,052 14,086 143,827 34,031 350,941 154, 376 May. 1,486,234 1,177,223 485,956 691, 267 309,011 1,429, 630 037, 513 374,039 18,078 145,449 24,916 347,965 157,460 June 1,460,934 1,149,106 472,748 676, 358 311,828 1, 389, 634 003,172 372,047 14,415 141,168 27,053 337,843 151, 725 W July 1,440,455 1,132, 381 465,268 667,113 308,074 1, 392,184 009,100 372,437 10,647 142, 700 23, 326 331, 711 153, 534 O August. 1,422,785 1,127,653 460,343 667, 310 295,132 1,366, 237 994,003 365,094 7,140 138,034 19, 632 329,237 140,423 September. _ 1,436,204 1,136, 590 458,759 677,831 299, 614 1, 369, 310 996, 363 365,094 7,853 134, 526 22,419 337,426 145,609 October 1,436,410 1,151, 364 465,838 685, 526 285,046 1, 357,433 980, 796 369,194 7,443 136, 660 41,830 310,257 147, 569 November 1,430,282 1,146,199 472,299 673,900 284,083 1, 369, 394 994, 693 371, 394 3,307 141,880 25, 975 306,089 145, 399 December.. 1,425,110 1,135,178 470,803 664, 375 289, 932 1, 375, 984 990,876 379, 361 5,747 141, 261 18,281 311,863 146, 524 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 1,425,912 1,121,314 478, 526 642, 788 304, 598 1, 392,195 1,012,013 372,888 7,294 143,613 9,561 327,847 147,288 February __. 1,414,411 1, 111, 143 469,187 641,956 303, 268 1,386,837 1,007, 590 372,858 6,389 141,800 2,609 342,693 144,074 March 1,438,402 1,124,816 472,218 652,598 313, 586 1, 399,818 1,017, 711 371, 887 10,220 144,498 6,381 364,617 146,665 April 1,445,354 1,127,943 465,238 662,705 317,411 1,393,197 1,006,141 373,836 13, 220 142, 618 12,036 353,180 146,792 May 1,465, 730 1,144,812 477,310 667,502 320,918 1,437,828 1,049,054 379, 787 8,987 145,404 7,222 365,525 167,625 June 1,467,700 1,144,651 467,013 677,638 323,049 1,454,595 1,061,197 386, 786 6,612 160,871 2,648 398,321 189,897 July._ 1, 524,158 1,181,449 489,976 691,473 342,709 1, 512, 716 1,112, 995 393,028 6,693 162,084 1,239 433,443 193,907 August 1, 590,600 1,237,071 524,446 712,625 353, 529 1, 575,087 1,174,988 393, 775 6,324 168,078 747 467,194 185,716 September. 1, 631,061 1,268,860 542,959 725,901 362,201 1, 619,306 1,213,075 398, 558 7,673 173,887 272 488,445 184, 568 October 1,674,162 1,285, 652 555,444 730,208 388, 510 1, 652,043 1, 232,495 410, 754 8,794 166, 591 245 466,539 182,850 November. 1,649,040 1,247,857 534,331 713, 526 401,183 1, 628, 807 1,184, 751 438,081 5,975 168, 785 1,333 431,229 181,301 December.. 1,652, 565 1,243,035 531,078 711,957 409, 530 1,633, 569 1,171,446 450,172 11,951 172, 913 3,894 407,114 169,724 1925 January 1, 658, 748 1, 257,962 553,278 704, 684 400, 786 1, 655,489 1,186,810 452,468 16, 211 169, 870 1,512 424,929 161, 532 February. _ 1,653, 791 1, 243, 523 547,431 696, 092 410, 268 1, 639, 018 1,166, 472 457, 765 14, 781 159, 550 1,615 419, 700 162,914 March 1, 632, 692 1, 244,249 550,339 693,910 388,443 1,623,334 1,143, 033 459,925 20, 376 159,931 3,500 422, 591 174,332 April 1, 615,824 1, 229, 563 539,795 689, 768 386, 261 1, 593, 605 1,111,511 461, 719 20, 375 158,386 10,820 394, 677 171,070 May 1, 643, 783 1, 274,031 579,448 694,583 369,752 1,633, 009 1,137,474 482,949 12, 586 162,116 3,064 401, 034 192,641 B June 1,665,023 1,285, 572 599, 512 686,060 379,451 1, 652,430 1,160,357 481,171 10, 902 164, 301 6,432 399, 755 187,638 July 1,662, 500 1,286,959 611,444 675,515 375, 541 1, 654,313 1,170,174 474,998 9,141 167, 303 9,422 389, 494 177,294 August 1, 662,162 1,298,080 616,938 681,142 364, 082 1, 662, 715 1,185, 690 470,832 6,193 173,142 9,340 373,177 159,990 O September. 1,687,310 1,321,912 633,726 688,186 365,398 1,669, 539 1,189,841 471,868 7,830 164, 622 8,830 371, 233 166,840 H October .__ 1, 705, 893 1,346,399 657,044 689,355 359, 494 1, 688, 479 1,199,108 483, 541 5,830 172, 042 18,253 364,101 172,010 November - 1,707,727 1,351, 503 670, 567 680,936 356,224 1, 695,119 1,197,188 495,. 515 2,416 168,067 11,971 359, 710 157,618 December.. 1, 709,711 1, 658,706 677,946 373,059 1,681,995 1,169,826 502, 551 9,618 169, 223 36, 220 359, 209 159, 571 1926 January 1,696,506 1,326,367 641, 504 684,863 370,139 1, 679, 044 1,164, 216 501, 637 13,191 167,487 22,955 375,921 154,366 February 1, 1,318,282 633,061 685, 221 373, 526 1, 681, 580 1,153, 800 514,833 12, 947 163, 759 17,372 377,337 149,257 w March 1,675', 391 1,302,425 620,049 682,376 372,966 1, 652, 262 1,131, 294 508,280 12, 688 164,176 27, 553 387,489 150,144 April 1,669,069 1,300,405 611.168 689, 237 368, 664 1,649,044 1,137,145 501, 549 10,350 158,358 13,864 383,232 153,225 May 1,690,678 1,319,396 619.169 700,227 371,282 1, 680,067 1,170,498 501, 600 7,969 170, 589 10, 205 379,873 165,357 June 1, 713,106 1,335,017 625,141 709,876 378, 089 1, 689,455 1,176,117 505,845 7,493 167, 554 14,454 381, 543 168,279 O July 1,731,477 1,360,129 648,099 712,030 371,348 1, 708,920 1,183,242 519, 862 5,816 163, 493 12, 578 373,312 157,130 O August 1,767,250 1,398,770 685,814 712,956 368,480 1,741,167 1, 214, 532 522,118 4,517 172,763 14,986 371,742 148,873 September 1,784,299 1,402,902 694,971 707,931 381,397 1, 763, 647 1, 235, 633 517,619 10, 395 180,928 14,970 374, 605 151, 706 October-.. 1,780,117 1,399,966 687,364 712, 602 380,151 1, 752,187 1,222,233 517,667 12,287 175,245 25,491 359,722 155, 581 November 1,763,345 1,391,312 684, 578 706, 734 372,033 1, 734, 268 1,207,364 519,984 6,920 173,127 25, 901 349, 234 154, 580 December. 1,762,174 1,396,553 678, 677 717,876 365,621 1,738,093 1,209,594 521,203 7,296 173,007 27, 582 347,137 152,680 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

374 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 21 centers i Adrian, Mich.* Aurora, 111.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January. _. 5, 849, 7865, 490, 7474, 701,940 4,849 4,524 3,591 18,404 16, 237 13, 473 February.. 5, 033, 0174, 479, 4754,178, 246 4,152 3, "• 3,191 15, 815 13,116 12, 824 March 6,055, 0205, 451, 9054, 807, 897 4,904 4,292 3,964 18, 631 16,300 15, 641 April 5, 641,0855,131,967 4, 643, 076 4,972 4,212 3,901 18, 613 16, 432 14, 543 May 5, 509, 5135, 248, 8004, 746, 250 4,920 4,387 4,072 17, 806 16,176 15,189 June 5, 731, 6215, 523, 0744, 582, 549 4,807 4,735 3,659 19,169 17, 044 13, 818 July 5, 780, 2625, 470, 8214, 654,974 4,887 4,367 3,461 21,004 17, 720 14, 476 August 5, 430,1664,946, 0304, 469, 35" 4,329 4,091 3,370 18,043 17,096 13, 941 September. 5, 209, 3635,118,833 4,435, 346 4,912 4,614 3,472 17, 870 16, 393 14, 073 October 5, 664,1615, 775, 2284, 949, 211 5,151 4,792 3,742 18, 501 18, 235 14, 940 November. 5, 226, 8335, 087,1274, 500, 225 4,700 4,341 3,857 16, 868 15,969 13, 607 December.. 6, 085, 6875, 850, 7265, 326,098 5,074 4,948 4,236 17, 334 17, 892 14, 620 Total 67, 216, 51463, 574, 733 55,995,169 57, 657 52,994 44, 516218, 058 198, 610 171,145 Bay City, Mich. Bloomington, 111. Cedar Rapids, Iowa Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January... 15,091 14, 593 11, 583 12, 549 12,993 10, 843 41, 605 50, 032 30, 829 February... 10/" 10, 413 9,617 12, 340 11,878 10, 791 34,974 35, 795 27.028 March 12, 582 12,1831 10, 832 15, 575 15, 289 13, 805 45,018 48,291 32,120 April 13, 064 12,169 10,007 13, 396 13, 283 11, 870 41, 446 44, 230 32, 544 May 14,033 12, 519! 11, 274 13, 221 12, 253 10, 507 38, 373 40, 502 32, 248 June 12, 476 13,146 11, 033 13, 423 12, 513 10, 739 39, 714 42, 637 31, 729 July 12, 758 13, 600 10, 695 13,102 12, 456 11.127 42, 030 38,922 39, 368 August 12, 571 12, 770 10,097 12,065 12, 758 10, 696 37,014 40,922 36, 801 September. 13,178 12, 713 10, 303 12,080 12, 894 11, 629 37, 862 38, 646 34, 978 October 15,943 15, 096 14. 031 12, 837 13, 273 12.128 42,152 42, 763 38,969 November. 13,414 12, 857! 13, 407 11,896 11, 355 10, 368 39, 378 36, 331 32,406 December.. 15, 824 16,418| 13,078 13,168 13, 639 11,990 45, 903 40, 644 41, 301 Total 161, 918 158,477 135,957 155, 652154, 584136, 493 499,715 410, 321 Chicago, 111. Danville, 111.* Davenport, Iowa Month 1926 1925 1924 1926 1925 1924 1924 January 3,784,550 3,568,980 2,997,858 10,978 15,187 14,703 34,876! 35,592 31,848 February.. 3,246,430 2,883,655 2,583,461 11,262 11,481 13,454 29,115 26,547 26,341 March 3,897,913 3,568,904 3,042,603 16,799! 17,169 18,433 32,947 33,322 31,044 April 3,555,031 3,256,150 2,934,174 16,9521 14,564 16,300 36,138 36,654 28,994 May 3,489,243 3,346,398 2,998,663 14,610 13,013 14,540 33,784 31,952 33,770 June 3,605,168 3,529,104 2,927,501 16,102| 12,946 15,060 33,370 30,955 28,483 July.. 3,680,486 3,466,390 2,976,570 16,167 14,158 15,050 35,437 31,737 30,307 August 3,454,047 3,098,281 2,864,692 11,919 11,872 13,300 30,870 28,354 26,079 September. 3,255,947 3,223,775 2,814,495 14,116 13,342 13,623 33,537 29,229 25,761 October 3,552,917 3,644,054 3,151,693 13,888 12,826 14,133 36,965 38,986 34,015 November. 3,333,278 3,165,672 2,918,432 11,614 11,444 12,264 36,126 30,015 27,370 December., 3,984,330 3,718,224 3,512,555 13,069 12,639 14,720 36,481 28,832 29,669 Total 42,839,340 40,469,587 35,722,697 167, 476J 160, 641 j 175, 580J 409,646 382,175 353,681 Decatur, 111. Des Moines, Iowa Detroit, Mich. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 19,039 19,176 14,632 83, 042| 77, 242 74, 502 879,080 758, 243 696,434 February... 16, 828} 15, 880 13, 643 68, 603, 61, 250 65, 723 759,108 643, 323 657,927 March 20, 4481 20, 839 16,228 86, 562J 77, 346 77,!""" 931, 645 764, 493 731, 878 April 21,053 18, 521 16,376 82,895! 75, 580 71, 503 930,992 805,952 713,110 May 20, 277 19,030 15,949 81,901! 67, 863 88, 615 871, 015 831, 403 715,120 June 21,093 19, 683 16,095 80, 8521 67, 230 105, 676 935, 596 893,931 664,192 July 21,098 20,606 16,584 79,927 80, 254 104, 810 900, 700 881,077 661, 579 August 21,001 19, 270 16,602 72,800 66, 646 95,356 876,662 799, 628 653,192 September. 19, 712 18, 489 16,104 79, 533 71,914 92, 966 838, 639 849, 56" 646,974 October 20,604 20, 837 16,388 85,160 87,972 102, 780 896,910 937, 584 700,031 November. 18, 856 18,906 14, 742! 80,132 78,073 69, 522 788, 631 861,179 652,009 December.. 20, 318 21, 257 17,741 93, 865 82, 776 76,127 873, 042 944, 763 733, 762 Total 240, 327232, 494 191,09l| 975,272 894,146 1,025,46310, 482, 0209, 971,1438,226,208 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

375 DISTRICT NO. 1 CHICAGO No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Dubuque, Iowa Flint, Mich. Fort Wayne, Ind. Month 1926 1925 1924 1926 1925 1924 1926 January — 17, 285 16,325 16,048 36,213 29,816| 32,8651 42,698 43, 757 39,006 February... 12, 992 13, 995 13,300 33,171 24,135! 30,175 36, 857 36, 634 38,228 March 15,868 15,496 14,447 34,385 29,265! 34, 015 42, 892 41,841 39,179 April 15, 094 14,770 13, 227 35,121 31,33lj 31, 862 41, 068 42, 381 44,670 May 15,348 14,349 14,685 34,337 31, 056 31,9051 41, 257 46, 757 40, 582 June 15, 738 15, 644 15, 018 34, 578 33,381 30, 643 i44,323 43, 586 38,914 July 16,138 16, 201 15,151 38,319 33,868 31,866 43,777 44,458 40,802 August 13,980 13,731 13,443 42,162 32,451 28,015 38, 845 40,878 37,327 September. 12, 950! 14, 589 13, 613 38,281 33,5371 29, 285 41, 645 42,116 36, 747 October 16, 226 17, 017 15, 8381 39,178 36,450! 30,513 42, 739 48,165 43,630 November.. 15,394 15, 015 14,489 36,006 32,4971 26, 322j 43, 627 41, 677 39, 610 December.. 18, 003 16, 252 15, 223 37,174 32, 515! 29, 502 49, 894 49, 511 46, 556 Total. 185,016 183,384 174,482| 438,925 380, 3021 366,968 509,622 521,761 485,251 Gary, Ind.* Grand Rapids, Mich. Green Bay, Wis.* Month 1926 1925 1924 1926 1924 1926 January 23, 658 19, 626 15, 538 87, 019 65, 784 12, 687 12,463 11,382 February.. 20,888 17, 997 14,876 75, 649 67, 599 58, 237 11,395 10, 660 10, 738 March 25,477 19,976 16,362 90,804 76, 791 66, 771 11,345 11,137 11,848 April 26, 774 22, 560 18,107 90, 790 78,370 66,404 12,429 12, 561 11,336 May 27,163 22,858! 18,436 83, 759 79, 390 67,915 11, 758 11,612 11,459 June 27,669 22, 509 15,982 86,164 85, 793 65, 070 13,101 12, 271 11,337 July 28,133 24,175 16,982 88, 071 90, 585 64, 682 14, 221 13, 554 12,370 August 26, 709 21, 024 15, 752 83,979 95, 531 63,673 12, 770 14,048 12,344 September. 26, 678 21, 855 15, 722 83, 611 85, 540 66, 961 13, 688| 12,975 12,169 October 27, 636 19, 715 92,420 94, 427 72, 817 14, 5991 14, 825 13,271 November. 2 2 6 5 , , 9 67 1 8 2 | 2 2 2 6 ' , 1 2 7 0 7 9 2 1 0 8 , , 8 7 6 4 9 4 8 92 0 , , 1 2 0 2 8 7 8 9 6 7 , , 8 8 4 5 5 1 8 6 3 1 , , 4 4 1 4 9 0 1 1 2 3 , ,1 6 1 1 7 6 1 1 2 3 , , 8 0 2 0 3 9 1 1 2 1 , , 3 44 7 3 8 December- Total 313, 375 265, 848 207, 085 1, 039, 941 1, 025, 741 803,173 153,726 151, 938 142, 075 Hammond, Ind.* Indianapolis, Ind. Jackson, Mich.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 21,190 17,406 17,1031 187,246 181,299 160,249 24,543 20, 975 23,144 February... 19,098 15,487 14,280 161,635 135,332 147, 372 18,775 15, 980 19, 667 March 20,320 18,108 14,441 183,783 145, 303 151,145 23,273! 21,402 19,953 April 20,923 18,042 16,155 177,098 143,348 145,636 22, 729 22,629 19,889 May 21, 550 18,633 15,935 181, 356 152,697 158,396 21,132 21,373 19,240 June 20,890 18,470 14,851 207,300 161,380 148, 705 23,037 22,147 18,040 July 22,880 20,089 18,600 204,422 168,149 155, 071 24,386 20,804 17, 934 August 18,452 17,107 16,403 175,359 147, 224 143,018 22,276 21,010 17,883 September. 19,2Q 18,978 15,410 174,485 142,831 145,135 21,954 22, 630 17, 987 October 19,373 20, 753 17,390 184, 703 165,608 158,033 24,999 24, 568 20, 537 November. 22,656 18,381 16,062 174, 520 152,198 140,272 20, 693J 21,187 16,938 December. 21, 563 21, 629 18,850 195,472 189,096 157, 683 22,143 23,091 18,090 Total 248, 024 223, 083 195,480 2,207,379 1,884,465 1,810,715 269, 940 257, 796 229, 302 Kalamazoo, Mich. Lansing, Mich. ] Mason City, Iowa* Month 1926 1925 1924 1926 1925 1924 j 1926 1925 1924 January 24,499 23, 031 20,296 34,323 33,143 32, 942| 12, 970 11,183 9,201 February... 20, 582 18, 930 17,835 29,738 27,866 30, 956! 8,650 8,719 8,813 March 23,403 22,391 21,304 34,846 31,120 35,2361 11, 600 10,344 10,295 April 23, 669 22, 918 19, 977 35,024 31,919 31,8941 10, 700 10, 935 9,213 May 23,840 21, 775 20,805 34, 540! 33,235 31,252 10,040 10,678 9.143 June 24,846 23,045 20,435 34,158! 35,445 25, 8931 10,360 11,400 9,432 July 24,942 23, 937 19,823 34, 730 35, 739 24,465J 11, 750 10, 659 9,714 August 23, 756 22,202 20, 837 34,644 31,171 24,430 10,083 11,205 8,187 September. 24, 722 22,529 20,855 33,815 34,033 26,133| 10, 334 10,172 9,287 October 26, 310| 25,109 21,777 33,485 38,550 30, 797 10, 733 11, 073 10, 923 November., 24, 642 22,174 18,825 30,240| 34,950 27, 646 11, 240 10,038 8, 588 December.. 26, 773 25,010 22,385 32,020! 35,850 30,833 12,260 12,690 10, 713 Total 291, 9841 273,051245,154 401, 563 403, 021 352,477] 130,720 129,096 113, 5C9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

376 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Milwaukee, Wis. Moline, 111.* Muscatine, Iowa * Month 1926 | 1925 1924 1926 1925 1924 1926 1925 1924 January.., 310,062; 297,865 271, 600 12,161 8,466; 7,215 7,339 6,700 5,733 M Fe a b r r c u h ary.. 2 33 7 7 8 , , 3 1 0 0 3 0 1 3 26 0 0 6 , , 1 6 9 4 2 7 2 2 6 7 2 6 , , 0 7 8 3 2 4 1 9 0 , , 7 8 7 70 4 9 7 , , 3 9 7 7 6 li 7 7 , ,2 8 1 5 6 1 7 5 , ,1 6 0 7 2 6 4 8 , , 0 ~ 3 " 3 4 7 , ,0 8 9 7 4 9 April 287,128' 269,155 259,937 11,208 10,982! 9,231 6,720 6,550 6,435 May 297, 574 274, 249 262,228 10, 833 10, 277! 7,632 5,626 5,028 5,336 June 299, 512 283, 757 248,607 9,975 9,528| 7,533 5,456 5,770 5,139 July 304, 35l| 281,477 253,384 11,838 9,8861 8,259 6,217 6,530 5,768 August 284,272! 268,124 238,490 10,0701 8,472! 8,341 5,372 5,167 4,595 September. 288,451 277,949 246, 306 9,9541 9,408! 9,094 5,879 6,005 5,059 October 324, 789! 309,078 288,660 10,852 10,995 9,351 6,596 6,494 6,132 November. 295, 532) 271,419 247, 343 9,762 9,791 8,463 5,874 5,177 4,356 December.. 313, 235j 298, 275 286,677 11,073 12, 275: 9,345 6,256 5,930 5,580 Total. 3,620I,,3 30099 3,398,187 3,142,048 128,370 117,427; 99,531 74,113 72, 283 66,106 Oshkosh, Wis.* Peoria, 111. Rockford, 111. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 14,040 14,200 10, 767 49, 252 50,029 41,73 30,061 29,346 23,297 February... 11,750 10, 750 10,200 40,137 41,103 38,359 26,611 23,082 22,182 March 13,250 11,983 11, 266 48, 906 47,110 42, 653 32, 516 29,826 27,058 April 13,000 12,067 11,467 48,000 47,826 39,327 35, 285 29,563 27,900 May 13, 220 11,780 11,540 49,836 49,115 43,469 33, 287 29, 797 27,238 June 13,180 11,687 10,227 48, 976 49,600 37,549 32,922 28,423 25,113 July 14,050 11,866 10, 683 51, 812 48, 262 38,857 34,146 27, 941 23,805 August 12,850 10, 367 10,330 44, 746 43, 998 36, 990 28,327 25, 712 21, 385 September.. 12, 965 11,800 10,803 45,461 42,457 40,039 30, 542 26, 593 21,402 October 13,435 13, 750 12, or49, 262 45,890 43,296 32,982 30,469 25,446 N D o ec v e e m m b b e e r r . . . . 1 12 2 , , 8 7 8 4 0 0 1 1 3 1 , , 9 8 6 5 0 0 1 1 2 0 , , 6 4 2 8 0 0 4 51 3 , , 0 3 7 3 1 4 4 4 4 4 , , 2 7 5 5 8 7 4 3 5 9 , , 5 5 4 6 3 5 3 2 4 9 , , 6 9 7 9 9 0 2 30 7 , , 0 9 5 6 9 4 2 2 5 2 , , 9 6 0 8 8 1 Total.. 157,360 146,060 132,400 570,793 554,405 487,378 381,348 338,775 293,415 Saginaw, Mich.* Sheboygan, Wis.* Sioux City, Iowa Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 25,859 28, 747 27,467 16,297 15,515 93,198 100,940 77,203 February.. 22,578 23, 64" 22, 799 14,309 13,185 79,076 85,206 74,143 March 25, 726 24,220 23,130 16,587 14,952 96,708 101,321 85,325 April 27,416 23,965 22,079 15,436 14,878 83,445 88,911 80,560 May 24,500 22,337 22,443 17,632 15,375 79,471 81,627 77,967 June 25,122 23,480 22, 538 17,296 16,760 85,987 84,550 72,403 July 27, 217 24,797 21,614 18,503 18,674 82,760 83, 524 79,485 August 26,248 23,179 21,600 17, 745 16,483 74,509 80, 926 75, 737 September. 25,821 23,480 21,825 17, 758 17,187 73, 516 73,952 79,015 October 27, 741 24,923 22,854 19,782 18,877 83,117 87,642 83,417 November- 26,632 25,161 22,288 17,361 17,033 66,265 75,721 66,007 December . 27,318 27, 577 24,977 17,242 18,794 77, 938 88, 979 82,910 Total 312,178 295,513 275, 614 205,948 197,713 975,990! 1,033,299934,172 South Bend, Ind. Springfield, 111.* Terre Haute, Ind.* Waterloo, Iowa Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 44,625 42,045 35,959 40,464 43,312 28,521 23,825 26,584 23,514 18,133 19,281 16,431 February.. 43,808 40,090 34,547 33,189 35,257 26,994 22,549 22,771 23,476 16, 27916,115 15,647 March 49,481 45,173 39,285 41,116 41,046 28,949 23,517 22,430 24,020 21,435 19,409 19,004 April 53,874 50,550 44,970 38,687 28,720 22,033 22,216 21,763 21,474 18,386 18,134 May. 53,057 54,165 45,645 35,905 36,114 33,322 23,377 23,019 22,031 20,004 18,668 18,017 June 54, 748 51, 080 41,477 38,125 42,372 35,622 23,427 22,227 21,802 20,677 18,191 17,274 July 51,584 53,025 38,109 46,963 40,854 36,815 25,702 24,627 22,809 19, 67218, 61318,434 August 50,517 49,040 34,105 36,356 34,107 21,345 20,119 18,040 16, 41316,904 September. 51,972 47,151 38, 73033,066 34,070 31,080 22,029 20,887 21,078 19,424 18,329 17,915 October 54,239 54,964 45, 62634,488 36,093 34, 61725.357 24,461 24,414 21,223 21,294 19,326 November.. 46,858 51,224 41,876 31,989 33,476 28,730 24,118 21,840 21, 63319,180 17,696 15,936 December.. 53,272 44, -"• 38,666 39,196 35,425 27.358 26,485 24, 73020,424 18,810 18,317 Total. 608,035 594,816 486,686 446, 763 458,539 382,902 286,990 278,892 271,389 235,965 221,205 211,339 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 7—CHICAGO 377 No. 16.—MONEY RATES 1 IN CHICAGO AND DETROIT [Rates prevailing during week ending with 15th of month] CHICAGO Loans secured by Month co P m c ri i m a m l e e r- I b n a t n e k r- p ch ri a m ng e e s c t o o l c l k at e e r x al - C lo a a t n tl s e loans 2 loans Demand Time 1926 January 5 -5} February 5 -5} 4H-5 March 5 5 April 5 May 5 June i _ 5 -5> 4M-5 July 5 4H-5 August 5 September „ 5 October 5 November 5 December 5 DETROIT 1926 January___ 5-5^ 5 -6 5K2-6 5^-6 February 4J^-6 5 4^-6 4%-6 March 4J4-6 5 -6 5 -6 April 5 -6 5-5H 5 -6 5 -6 53^-6 May 5 -6 5-5H 5 -6 5 -6 5 -5M June 4^-5 5-6 4^-5M 5 -6 July 5-6 5 -6 5 -6 5 -6 August 5-6 5 -6 5 -6 5 -6 September 4H-6 5-6 5 -6 5 -6 5 -6 October 5-6 5 -6 5 -6 5 -6 November 4^-6 5-6 5 -6 5 -6 5 -6 December 4^-6 5-6 5 -6 5 -6 5 -6 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. J The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January-May are comparable with those given under corresponding captions for 1924 and 1925, in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 8—ST. LOUIS No. 1,—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 19, 509 15,820 56, 590 49, 424 Gold redemption fund with United States Treasury 1,001 930 3,274 2,773 Gold held exclusively against Federal reserve notes _ 20, 510 16, 750 59, 864 52,197 Gold settlement fund with Federal Reserve Board.. 33,193 20,398 23,834 35, 272 Gold and gold certificates held by bank 12, 728 11,142 8,165 5,060 Total gold reserves 66,431 48, 290 91,863 92, 529 Reserves other than gold 13, 647 10, 692 11, 700 9,802 Total reserves 80, 078 58, 982 103,563 102, 331 Nonreserve cash _ 4,199 3,395 3,387 3,321 Bills discounted: Secured by United States Government obligations 12, 255 9,508 5,303 17, 292 Other bills discounted _ 18,874 13,360 4,827 39, 990 Total bills discounted 31,129 22,868 10,130 57,282 Bills bought in open market 7,992 22,181 21,391 43 United States Government securities: Bonds 2,012 1,746 1,264 Treasury notes 6,972 14, 716 11,171 Certificates of indebtedness 12,088 7,885 2,653 Total United States Government securities . _ .. 21,072 24,347 15,088 Foreign loans on gold 359 294 Total bills and securities. 60,193 69, 755 46,903 57,325 Uncollected items 33,419 39, 345 35, 994 30,139 Bank premises _ 3,957 4,112 3,176 1,346 All other resources ._. 805 327 306 108 Total resources _._ 182, 651 175,916 193,329 194, 570 LIABILITIES Federal reserve notes in actual circulation _ 48,396 40, 305 57,813 75, 872 Deposits: Member bank—reserve account 82,116 81,447 80, 511 70,100 Government . .. 1,000 1,468 2,468 3,042 Foreign bank _ _ 1,211 380 91 72 Other deposits 328 757 580 394 Total deposits 84,655 84, 052 83, 650 73, 608 Deferred availability items.. 33,635 I 36,278 36,377 29,490 Capital paid in 5,293 5,127 5,129 5,009 Surplus 9,939 9,570 9,971 10, 072 All other liabilities 733 584 389 519 Total liabilities _. 182,651 175,916 193,329 | 194,570 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) __: 60.2 ! 47.4 73.2 68.5 Contingent liability on bills purchased for foreign correspond- \ ents 2,427 | 3,235 2,091 836 378 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTBICT NO. 8 ST. LOUIS 379 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Mem- Fed- Date s T b e a t o i c i n e l t u d l s a s r l i- Total c m U G e u S b r . e o r y e n e n S v - - d t . - I c O b o d e t i i u h l d s l n - e s r t- b o m B o k p i u i a n e l e g r l t n s - ht U s S e t n t c i a i e u t t s e e ri s d - lo e g F o i o a o g n l n r n d - s s T c e r o a r e v s t - a h e l s b p s a o e b d r n r e s e e v - i r k - t e s s p T o d o s e t i - a ts l l c n s a e i e o r t r i r r e i n c t a v o - e u l e n s - i | I s c R e p e r n e e v r - t e obligations 1926 Jan. 70,859 20,293 9,! 10,447 25,874 24,347 345 61,259 39,160 47.9 64, 867 17,401 8,258 9,143 22,322 24, 822 322 64,192 83,840 85,903 38, 748 51.5 68,414 20,191 9,116 11,075 22,901 25,023 299 57,624 82,094 85,478 37,783 46.7 61, 794 16,862 7,683 9,179 19, 819 24, 814 299 64, 091 85, 553 37,304 52.2 Feb. 3.. 60, 505 17,487 8,082 9,405 18,239 24,485 294 67,009 81, 71584, 282 37,184 55.2 56,485 15,150 6,634 8,516 16, 539 24,460 336 72,414 82,375 85,369 36,987 59.2 17~' 64,217 23, 265 10, 96412,301 16,146 24,484 322 64,721 79,596 83,150 37,178 53.8 24.. 64, 797 24,105 10, 67613,429 16,458 23, 907 327 63,357 81,521 84, 563 36,986 52.1 Mar. 3.. 63, 685 25,607 10,349 15,258 13, 797 23, 907 374 67,836 83,347 87,305 37,043 54.6 10.. 61,936 20,214 8,821 11,393 14,300 27,044 378 68, 54482,506 86, 097 36, 974 55.7 17.. 56, 751 25,612 12,341 13,271 13,363 17,445 331 68, 84280,127 81, 587 37,118 58.0 24.. 65,511 28,728 11, 62517,103 12,746 23, 676 361 63,563 85,477 36, 680 52.0 31.. 68, 709 33,617 12,154 21,463 9,183 25,543 366 59, 78278,960 85,104 36, 723 49.1 Apr. 7.. 56,005 25,022 9,130 15,892 4,863 25, 742 378 73,121 80,632 84,843 36, 733 60.1 14.. 57,833 25,066 11,432 13,634 6,651 25,742 374 67,263 78,123 80, 533 37,068 57.2 21.. 61,029 26, 943 10,206 16, 737 7,970 25, 742 374 63,185 79,548 80,508 36, 955 53.8 28.. 58,031 23,722 10,530 13,192 8,219 25,742 348 69,172 83,250 84,668 36,885 56.9 May 5.. 59,380 26,236 9,937 16, 299 7,079 25, 742 323 71,126 85,492 87, 535 36,845 57.2 12.. 57,345 22,227 8,476 13, 751 7,458 27,342 318 71,162 81,689 83, 771 37,404 58.7 19.. 62,180 26,233 9,432 16,801 7,287 28,342 318 64,341 81,078 82,919 38.034 53.2 26.. 62,410 25,216 9,484 15, 732 8,134 28, 742 318 63, 74878, 75680, 343 38,626 53.6 June 2_. 68,175 34,405 9,917 24,488 4,645 28,742 383 61,280 78,694 80,499 40,186 50.8 9.. 60, 05524,593 9,545 15,048 30,114 361 66,257 77,656 78,235 40,334 55.9 16.. 53,520 22,912 8,881 14,031 6,432 23, 853 323 74, 95880,313 81,098 41,215 61.3 23.. 64,663 30, 771 11,458 19,313 7,204 26,400 63,357 79, 70580,423 41, 209 52.1 30.. 65,066 30,657 9,371 21,286 7,721 26,451 61,522 76,857 77,606 41, 909 51.5 July 2 2 1 1 7 8 4 . . . . . . . . 6 6 6 5 5 8 0 4 , , , , 8 8 5 8 9 8 4 4 1 7 8 2 3 3 2 3 0 5 6 1 , , , , 1 0 2 3 3 0 8 8 4 2 5 4 9 6 7 6 , , , , 5 0 0 5 8 8 6 6 1 5 9 0 2 2 2 1 3 6 5 8 , , , , 8 2 0 4 0 1 4 4 3 6 9 2 4 4 8 6 , , , , 1 1 0 9 5 2 0 6 7 3 4 9 2 2 2 2 4 6 6 6 , , , , 3 4 3 4 3 5 6 2 1 1 7 8 1 1 5 2 3 6 9 7 ] 7 6 6 7 0 5 5 2 , , , , 4 2 1 7 7 3 9 9 8 6 5 9 8 8 8 7 0 0 3 9 , , , , 1 6 7 5 1 7 2 7 3 4 3 3 8 8 8 8 2 1 2 4 , , , , 0 1 0 4 6 2 5 9 4 7 3 8 4 4 4 43 3 2 3 , , , , 3 1 7 5 3 4 4 1 2 7 3 2 5 5 5 5 7 2 2 5 . . . . 4 1 7 6 Aug. 4.. 65,047 35,198 7,096 28,102 5,521 24,328 72,234 78,687 81,135 44,446) 57.5 11.. 61,200 30,345 6,219 24,126 6,856 23, 999 71,924 79,904 81,449 45,048 56.9 18.. 70, 58537,735 8,772 28, 963 8,993 23,857 63, 87778, 266 80,684 45,919 50.5 25.. 66,057 36, 424 9,105 27,319 8,417 21,216 68,696 80,180 83,016 46,269 53.1 Sept. 1_. 68,814 39,266 11, 95927,307 8,569 20,979 69,332 80,262 83,133 47,050 53.3 8.. 66,907 37,957 10,408 27,549 8,657 20,293 80,935 81,720 47,633 53.3 15.. 63, 92236, 783 10,816 25, 967 7,621 19,518 74, 75183,354 84, 441 47, 584 56.6 22.. 73,356 53,077 17, 28035,797 761 19, 518 64,942 80,250 82,725 47,3001 49.9 29.. 67, 21147, 649 17,374 30,2751 661 18,901 68,875 78,356 80,489 47,166J 54.0 Oct. 6.. 61,057 41, 002 13,710 27, 292 537 19,518 79, 56983, 943 85, 985 47.035 59.8 13.. 58, 94637,610 11,241 26,369 1,818 19, 518 79,682 81,786!84,359 46,482 60.9 20.. 67,504 44,157 16, 55227, 605 3,737 19,610 67,860 80,927182,871 46, 017 52.7 27.. 67,497 42,171! 15,166|27,005 5,716 19,610 70,163 79,902 82,175 45,718 54.9 Nov. 3.. 71, 53044, 538!15,447 29,091 7,382 19,610 68, 98178,1571 82, 253 46, 273 53.7 10.. 65, 95337,164i 13,733 23,431 9,179 19,610 71, 951 84,099 46,094! 55.3 17.. 67, 93638, 370; 15, 373122, 997 9,869 19, 697 72, 09781,152 83, 743 46, 216i 55.5 24.. 62,378 32,841112, 622|20,219 9,774 19, 763 73, 83978,764 81,129146, 023! 58.1 Dec. 1.. 66, 21935,9451 13,332 22,613 10,432 19, 84: 72.301 80,020 82,903 46,060: 56.1 8.. 59, 69627, 938| 11, 87216, 06611, 036 20, 722 75, 74479,139 81,919 46,040 59.2 15_. 70,602 35,184! 15,407 19,777 12,849 22, 569 65,305 81,175 82,272 47,131; 50.5 22.. 72,049i43, 474 17, 80625, f- 7,931 20, 644 67,233 82,096 84,502 48,593i 50.5 29.. 60,890132, 516! 16,278 16, 238 7,730 20, 644 75.302 80,588 83,284 48,046! 57.3 Daily average: i j 1926 64, 83131,460J- ),672 23, 520 179 66, 686 83,371 42, 206! 53.1 1925 56, 28120, 945 i_ | 14,375 20, 527 434 76, 81778,117 81,378 45,670i 60.5 1924 40, 83825, 9871 _ 9,960 106, 05172,036 75,216 62,861! 76.8 1923 62, 36843,7541. 6^239 12,375 69,975 73,201 78, 508! 64. 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

380 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL. RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member U.S. Month p d u is T r a c c o n o h t u d a a n s l e ts s Total c M b o a n b l e n l o a a m k t n t e e s b k s r e a r l c R o b u e i d n ll i t s s e - d m b o o B a p i u i r n e l g k l n s h et t r b b e o f o F B e a s r t u e o r e i h n a l d g m r e k l l v - s h r s e t m b s U o e o a t c p i i u r . e n u e k S g s r n e . h i t - t 1 b r s e o f o e F e t r s t c u i o e r e h e u a g d m r e s l r v - h r i e - t l g e F o o i o a o g n l n r n d - s banks 1926 January 87,531 74, 228 52,964 21,264 11, 778 1,516 & February. 89,206 83,082 56, 718 26,364 4,667 1,044 41$ March. 129,904 111, 229 71,987 39, 242 5,557 13,028 90 April 109,172 102,377 74,922 27,455 5,561 625 579 3a May 108,353 96,981 69,303 27,678 7,654 3,331 387 June __ 97,338 86,955 62,594 24,361 4,696 4,547 1,118 22 July 116,159 107,913 76,049 31,864 3,796 1,803 1,313 1,287 4? August 123, 010 112,146 85,353 26,793 5,106 600 677 4,481 September 197,745 190,214 155,758 34,456 2,020 5,511 October 202, 814 195,447 155,426 40,021 5,458 1,200 709 November 159, 525 148, 594 123,179 25,415 5,672 2,500 2,759 December 213, 719 195, 702 161,953 33, 749 4,343 1,701 11,870 103 Total: 1926 1,634,476 1, 504,868 1,146, 206 358, 662 66,308 7,804 46,930 7,568 998 1925 864,147 718, 720 437,852 280,868 102,221 15,549 25,858 1, 799- 1924 688,434 605,118 340,460 264, 658 50,732 29,260 3,030 294 1923 1,799,940 1,679,671 1,198,129 481, 542 32,580 2,432 80,857 4,400 1 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926— December $3,000,000, 1924—$7,000,000, and 1923—$70,500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 8 ST. LOUIS 381 No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Num- Month M si i p s p s i i s ; - n I o ll i i s - 1 I a n n d a i - 1 s M ou i r s i - i Arkan- Total Num- b c e o r m ac - ber at moend of dated month2 during the month January | 31,349| 4,359 125 3,599 991 24, 866 74,228 623 179 February.. 32,715 4,672 223 2,878 1,291 34, 378 6,925 621 171 March 37,073 6,363 943 5, 731 1,564 50, 225 9,330 111,229 622 200 April I 44,264j 8,422 1,154 6,023 1,545 35,103 5,866 102, 377 622 212 May 30, 966 4,000 618 43, 038 8,363 621 216 June 24, 513 7, 5,994 650 38, 739 7,921 86, 955 619 222 July - | 25, 669 8,816 827 5,352 899 56,151 10,199 107, 913 617 222 August \ 29, 563 1,175 3,583 271 59,053 11,812 112,146 618 220 September. 51, 68417, 409 1,033 2,673 379 103,474 13, 562 190,214 618 222 October 74,972 18,459 1,187 2,468 1,195 11, 268 195,447 618 232 November. 63, 08711, 836 1,245 4,484 1,287 57, 924 8,731 148, 594 617 229 December.. 14, 872 1,438 4,525 1,625 95, 075 8,185 195, 702 609 218 Total: 1926 515,837 118, 65411, 727 51, 310 12, 315 683, 924 111, 1011, 504,868 1925 1222,391 61, 271 9,690 49, 053 10,084 296,596 69,635 718,720 1924 Il57,143 82, 91420,144 54, 051 18,503199,103 73,260 605,118 1923 |705,175 122, 95117,253 96,103 29, 499 621,119 87, 5711, 679, 671 Number of member banks at end of year:J 1926 67 183 151 109 609 1925 186 149 122 628 1924 185 143 126 1923 187 141 126 630 Number of member banks accommodated during the year: 1926 30 330 1925 34 87 339 1924 37 100 391 1923 91 81 362 i Figures relate only to that part of the State located in the St. Louis district. 3 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital-stock records. 38494—27- -26 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

382 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills _ l$l,268,227 $837,819 $1,140,622 $1,968, 788 Purchased bills _. ! 340,294 454,428 141, 778 253, 773 United States securities _ I 841,145 712,085 352, 652 520, 780 Deficient reserve penalties j 22,017 24,475 27,441 38,857 Miscellaneous _ _ j 49,826 26,830 25,650 -28, 763 Total earnings _ |2,511,509 2,055,637 1, 688,143 2, 753,435 CURRENT EXPENSES Salaries: Bank officers _ 166,072 158,465 164,320 160,116 Clerical staff 610,045 657, 663 716,421 749, 767 Special officers and watchmen 46, 612 40,916 38,289 32.969 Allother . 74,072 60,951 41,145 43.970 Governors' conferences 422 398 472 523 Federal reserve agents' conferences 289 251 379 443 Federal Advisory Council 1,200 1,200 1,200 1,26ft Directors' meetings _ 11, 796 11,781 9,892 11,333 Traveling expenses 1 31,029 27,498 31, 741 29,183 Assessments for Federal Reserve Board expenses 31,306 32,281 30,213 31.300 Legal fees 4,013 116 1,221 185 Insurance (other than on currency and security shipments) 23,320 21,967 18,178 20,32a Insurance on currency and security shipments 16,108 16,768 17,311 17,630 Taxes on banking house 53,870 24, 702 2,112 7,397 Light, heat, and power _ 21,499 15, 550 3,182 3,097 Repairs and alterations, banking house 12,819 10,408 7,562 36Q Rent 19,968 49,404 78,849 70,389 Office and other supplies. 21, 679 25,233 21, 622 22,135 Printing and stationery.. 22,922 21, 557 30,310 37,157 Telephone 12,492 9,929 6,454 6,97Q Telegraph 42,095 42,484 43,409 44,223 Postage 93, 529 98,009 118,221 123,98& Expressage 13, 749 14,217 12,328 13,017 Miscellaneous expenses... 30,118 41, 600 32,437 29,814 Total, exclusive of cost of currency __ 1,361,024 1.383,348 1,427,268 1,457,553 Federal reserve currency, including shipping charges: Original cost _ _ 13, 793 704 5,295 7,287 Cost of redemption _ 5,287 6,047 8,785 7,835 Taxes on Federal reserve bank note circulation -812 Total current expenses. 1,380,104 1,390,099 1,440, 536 1,472,675 PROFIT AND LOSS ACCOUNT Earnings .2,511,509 !, 055, 637 1,688,143 2,753,435 ,390,099 1,440,536 1,472, 675 Current expenses _ 1,380,104 665,538 247,607 1,280,760- Current net earnings _ _._ 1,131,405 59, 748 15,452 80,858 Additions to current net earnings 15,852 Deductions from current net earnings: 489,462 4,400 2,200 Bank premises—depreciation 154,795 257,373 25,927 29,971 Furniture and equipment _ 54,870 123, 687 Reserve for probable losses 253,500 71,991 28, 795 23, 597 All other _ 1,070 Total deductions... _ _ 464,235 818,826 59,122 179,455 Net earnings available for dividends, surplus, and franchise tax. 683,022 2-93, 540 203,937 1,182,163 Dividends paid 314,420 306, 753 304,976 296, 810 Transferred to surplus account.. _._ 368,602 3-400,293 -101,039 407,070 478,283 Franchise tax paid United States Government REIMBURSABLE FISCAL AGENCY EXPENSES Salaries.. 11,009 11,609 28,348 74,386 All other. 809 2,591 4,531 17,879 Total. 11,818 14, 200 32,879 92,265 1 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. 2 Deficit in earnings before payment of dividends. « Deficit in earnings after payment of dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 8—ST. LOUIS 383 No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 8,729 6,782 8,810 10, 618 Notes discounted 37,131 31,954 42, 628 57,036 Bills purchased in open market for own account. 4,162 6,310 3,547 1,934 Currency received and counted 108,587,000 104,633,000 107,280,000 105,278,000 Coin received and counted 136,924,000 122,353,000 120,109,000 121,128,000 Checks handled _ 48,573,000 46,316,000 45,793,000 43,736,000 Collection items handled: United States Government coupons paid _ 2,248,000 2,488,000 2,829,000 3,470,000 All other 241,000 207,000 265,000 244,000 United States securities—issues, redemptions, and exchanges by fiscal agency department _ 210,000 330,000 678,000 i 9,645,000 Transfers of funds 217,000 168,000 130,000 104,000 AMOUNTS HANDLED Bills discounted __. $1,504,868,000 $718,720,000 $605,118,000 $1,679,671,000 Bill purchased in open market for own account __ __ 66,308,000 102,221,000 50,732,000 32,580,000 Currency received and counted 495,792,000 498,449,000 484,795,000 520,881,000 Coin received and counted 16,391,000 15,354,000 15,502,000 14, 705,000 Checks handled _ 11,313,215,000 10,770,671,000 9,966,285,000 9,547,434,000 Collection items handled: United States Government coupons paid __ 22,896,000 24,052,000 25,400,000 28,416,000 Allother 190,362,000 255,426,000 318,103,000 395,426,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 141,938,000 159,120,000 159,086,000 356,964,000 Transfers of funds _ 5,347,707,000 5,016,700,000 4,369,086,000 %, 582,323,000 i Large total due to redemption of war-savings securities which matured Jan. 1,1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] Month n o o n i n I n t m m e o e m w e m s m n b b d d e e r r i r a s b t w r a a i n c n n t d ks r I e t o e s b n e m a r r a n F v s n d e e c d d i h r b t e a e s r a w s a n l n k r o e t w s I h a b e t e n e a r r r a v d m r d n e F t s e c h e b h d f e d a e o t i e n s r r o r - k a s l It o T e n m r S e s U t a a s n t d u e i r r s t a e e w d r n Total i Num- Num- Num- Num- Number Amount ber Amount ber Amount ber Amount ber Amount 1926 January 3,668 851,309 112,736 93 6,992 168 15,1011 3,942 February 3,367 753,051 87.697 83 6,766 159 12,722 3,619 860,236 March 3,955 868, 694 92,966 102 8,654 211 16,229 4,281 986, 543 April 3,677 803,918 83,981 7,076 243 16,935! 4,021 911,910 • May 3,624 797,042 78, 678 84 7,381 195 14, 232J 3, 916 897,333 June 3,798 842, 695 85,804 94 8,167 181 15,089 4,086 951,755 July 3,604 812,788 92,939 95 7,762 177 1144,8 68677 1 33,888888 928,356 August 3,471 790, 855 85,422 105 8,016 176 14,250 3,763 898, 543 September... 819, 981 96,434 205 18,425 3,965 944,323 October 3,917 874,111 108,750 9,143 252 17,140 4,281 1,009,144 November... 3,832 824, 367 90, 762 100 8,745 202 14,302 4,146 938,176 December 4,123 849, 521 100,152 111 8, 9421 178 14, 205 4,425 972, 820 Total: 1926. 44, 684 9, 888,332 1491,116,321 1,153 97,127 2,347 183.497 48,333 11,285, 277 1925. 42,754! 10,474,164 1,043 84,429 2,295 187, 945 46,092 10,746,538 1924. 42,2602 9, 674.493 1,006 87, 9632,260 182, 679 45, 5"2""6 9,945,135 1923. 240,2872 9, 217, 215 809 82,148 2,3621 220, 776 43,458 9, 520,139 1 Exclusive of duplications on account of items handled by both the parent bank and one of its branches or by two of its branches. 2 Includes items drawn on Federal reserve bank and its branches, separate figures not being available. 8 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

384 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 8,—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal re- Transfers for Total Total Transit clearing serve note Government pay- receipts 1926, week ending- clearing account t F o m e o d e t e n h r t e a s r l F o e f t d r h e o e m r r al N lo e s t s g N a e i t n Pay- Re- Pay- Re- Pay- Re- reserve reserve ments ceipts ments ceipts ments ceipts banks banks Jan. 6 (5 days). 114, 623 108, 031 150 367 500 4,000 115, 273 112,398 2,875 2 1 0 3 1 1 4 4 2 6, , 1 4 4 3 4 3 1 13 3 5 9 , ,1 9 5 0 7 0 4 3 2 3 0 9 9 64 5 6 9 500 1 1 4 4 2 6 , , 4 8 8 5 3 3 140,616 2,237 27 134, 769 .138, 910 416 1,635 135,185 136,546 9,937 5,360 140, 545 Feb. 3. 133, 253 135, 531 302 468! I 133,555 135, 999 2,444 10. 125, 758 127,361 238 7ll| j 125,996 128,072 2,076 17.. 140,161 133,191 265 4621 | 140,426 133, 6536,773 24. 120, 804 119, 627 187 307 120,991 119,934 1,057 Mar. 3 144, 990 149, 664 310 1,269 145,300 150, 933 5,633 10. 131, 384 128, 513 227 250 131,611 128, 7632,848 1!<7.--. 145,235 154, 863 279 334 9,000 154, 514 155, 397 '""883 24 ._ 143,887 138, 041 240 901 2,000 146,127 138, 9427," 185 31 136,980 132, 511 264 953 137, 244 133, 4643,780 Apr. 7. 120, 502 136, 318 636 120, 820 137, 242 16,422 14. 127, 524 119,409 168 287 127, 692 119, 6967,996 21.. 140, 592 134, 797 257 641 1,000 140,849 136, 4384,411 28.. 132, 355 134, 557 297 1,071 132, 652 135, 628 2,~976 May 5_. 122, 862 124, 359 220 123, 082 125, 057 1,975 12.. 121, 366 118,465 235 340 "I," 000 121, 601 119,805 1,796 19.. 146, 535 138, 558 333 663 1,500 146,868 140, 721 6,147 26.. 130, 712 128, 751 231 478 130, 943 129, 2291,714 June 120, 420 117, 262 232 1,3 120, 652 118, 6551,997 124, 939 126, 331 326 2 125, 265 126, 599 1,334 16.. 139, 904 134,389 234 902 2,000 17, 500 142,138 152, 791 10, 653 23.. 141,476 131,012 318 451 3,000 1,300 144,794 132, 763 12, 031 30.. 128, 942 128, 702 254 1,132 1,000 200 130,196 130,034 162 July 7.. 109, 898 116,404 248 556 3,500 110,146 120,460 10,314 14.. 125, 785 116, 536 285 650 1,000 126, 070 118,186 7,884 21.. 139, 322 137, 931 303 359 139, 625 138, 2901,335 28.. 126, 301 131, 608 423 845 1,000 126, 724 133,453 6,729 Aug. 4.. 117,392 116,592 363 561 I 117,755 117,153 602 11.. 120, 536 118,113 350 1,005 ! 120,886 119,118 1,768 18-. 131,158 121, 359 259 664 500i 131,417 122, 523 25.. 124, 865 129, 508 290 1,063 1,000 I 126,155 130, 571 4,416 Sept. 1. 110,266 111, 226 433 818 110, 699 112,044 1,345 8.. 96, 016 95, 721 269 321 96, 285 96, 042 243 15- 131,123 131,184 411 431 "8," 100 131, 534 139, 715 8," 181 22. 152,549 147, 830 353 1,206 6,000 1,500 158, 902 150, 5368,366 29.. 130, 609 136, 033 590 712 131,199 136, 745 5," 546 Oct. 6 128,630 139, 408 399 860 129, 029 140, 268 11, 239 13 __[ 127,525 126, 776 463 592 127, 988 127, 368 620 20 163,706 153,126 337 757 2,000 166, 043 154, 883 11,160 27. ...-I 141,002 142, 371 471 1,241 141,473 143,612 2," 139 Nov. 3 | 122,327 121,395 218 422 1, 000] 122, 545 122,817 272 10 I 137,672 139,174 486 1,087 138,158 140,261 2,103 17 I 132,573 129, 991 424 864 132, 997 130,855 2,142 24 j 137,836 137, 979 397 564 138,233 138,543 ""310 Dec. 1 119,430 118,023 338 1,212 119, 768 119, 235 533 15 ! 1 1 2 3 3 8 , ,8 7 9 8 0 3 1 1 2 2 4 9 , , 7 3 2 9 4 4 4 3 8 2 1 9 4 6 6 0 9 3 , 1 1 3 2 9 4 , , 1 3 1 7 2 1 1 12 2 9 5 , , 3 8 2 6 7 3"9," 508 1,215 22 ! 142,011 147, 346 279 1,330 2,000 1, 000 144, 290 149.676 5,386 29 | 109,808 115,600 345 573 110,153 116; 173 6,020 31 (2 days) 44,741 49, 817 51 500 45, 292 49,817 4, 525 Total: 1926. -16, 844, 304 6, 799, 667 16, 65537, 987 29,000 45, 800 6. 889. 959 868,3 ,45,41 6,505 1925. 32, 50045, 651 6j 997,164 6', 915, 02,28J46, 936 1924. 14,000 55, 000 6,329, 416 6, 325402; • 4, 914 1923. 32,500 59, 500 6, 051,196 6, ™«101125,095 Net gain in ownership of gold since establishment of fund in 1915, $7,494,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES f Amounts in thousands of dollars] ST. LOUIS DISTRICT Loans and investments Net de- Investments Capital, mand plusReserve Bills NUEQ' Call date Total a L nd o a d n i s s- G U ov . e S r . n- Other b f D a ro n u m k e s s a d u n i r v d p id l u u e n s d - , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p i o m si e ts d U S ep n t o a i s t t e i e t s d s D ba u n e k t s o d d e e p N m o e a s t i n t d s3 m G e t o n i v m t e a e rn n - d r F e w e s d e i e r t v r h a e l p r a a e y d n ab i d s le - r b ep e in o r g r o t- f counts i Total ment securi- profits deposits bank counts banks securi- ties ties 1921 Dec. 31 989, 767 764,431 225,336 102,937 122,399 77,350 178,117 935,635 515,859 284,143 8,106 127, 527 548,738 840,987 65,171 74,795 585 1922 Mar. 10 -.. 984,264 750,897 233,367 107, 653 125,714 90,208 180,603 963,037 508,897 295,259 11,306 147,575 558,554 865,119 61, 769 38,732 589 June 30. 1,005,345 739,259 266,086 119, 768 146,318 98,241 185,964 1,005,428 535, 703 313, 782 6,232 149, 711 579,533 899, 547 63,491 27,165 605 Dec. 29 ._ 1,122,964 803,191 319, 773 156,852 162,921 122,420 190,985 1,166,384 616, 616 340,447 14, 731 194,590 675,159 1,030,337 69, 732 37,827 608 1923 Apr. 3 1,158,205 821,430 336,775 166,841 169,934 110,407 192,375 1,182, 279 620,355 362,186 13,977 185, 761 685,623 1,061, 786 75, 621 35,627 618 June 30 1,160,273 820, 005 340,268 168,881 171,387 90,164 193, 783 1,133,366 597, 718 367,882 14,196 153, 570 652,367 1, 034,445 68, 782 51,364 621 Sept. 14 1,176,605 844,077 332, 528 162,389 170,139 86, 638 197, 612 1,123,997 595,695 381,404 3,823 143, 075 640,410 1, 025, 637 65,053 71,417 622 Dec. 31 1,187,817 854, 233 333,584 157,522 176,062 102,964 194,054 1,181,212 622,407 384,646 9,028 165,131 663, 700 1,057,374 70,058 65,303 624 1924 Mar. 31 1,180, 794 856,155 324,639 144,127 180, 512 87,826 196,445 1,152,908 586, 781 408, 703 9,417 148, 007 638,202 1, 056,322 68,304 47,905 628 June 30 _ 1,161, 747 844,063 317,684 134,429 183,255 117,085 197,101 1,175,475 600,670 407,587 5,945 161,273 643,848 1,057,380 63,376 32,102 627 Oct. 10 1,186,300 873,524 312,776 124, 201 188, 575 139,485 199,528 1, 243, 044 618,097 423,605 8,208 193,134 664, 779 1,096, 592 75,346 36,849 625 Dec. 31. 1, 226,348 885,123 341,225 135,632 205, 593 153, 630 196.176 1,343,784 676. 074 431.261 13,823 222, 626 733, 523 1,178.607 80, 758 14, 795 624 1925 P Apr. 6-._ 1, 249,120 891, 573 357, 547 150,942 206,605 133, 538 198,830 1,319,332 660,201 434,778 26,881 197,472 720,281 1,181,940 78,523 18,266 624 June 30 .. 1, 230,332 877,823 352, 509 132, 054 220,455 177, 784 198,454 1, 272,089 647,184 441,922 7,621 175, 362 697,990 1,147, 533 73,343 24, 553 621 SeDt.28 _ 1,283,346 929,995 353,351 132,822 220, 529 126,163 198, 054 1,303,438 650,849 452,819 10,168 189,602 708, 057 1,171, 044 75,114 48, 747 629 Dec. 31 1,312,477 951,459 361, 018 138,109 222,909 127,239 197,456 1,387,050 717, 534 452,196 12, 590 204,730 776,891 1, 241, 677 81,912 29,747 628 1926 April 12 1, 334,779 972,287 362,492 141, 291 221,201 114,311 203,567 1,374,691 700.527 479,134 16,123 178,907 751, 256 1,246,513 82,611 31,148 622 June30 1,320,587 952,346 368,241 135,854 232,387 110,096 202,920 1,343,279 684,633 476, 569 9,865 172,212 740, 424 1,226,858 76,904 35,623 619 Dec.31 1,313,541 947,380 366,161 119,929 246, 232 116,003 205,057 1,358,732 697,505 479, 590 8,560 173,077 733,936 1,222,086 83,017 36,933 609 CITY OF LITTLE ROCK 1925 Dec. 31..,. 37,535 34,264 3,271 1,931 1,340 3,777 4,692 44,396 15,053 1926 Apr. 12.... 36, 579 33,504 3,075 1,742 1,333 3,807 4,658 41,681 15,314 June 30... 37,057 34,178 2,879 1,528 1,351 3,819 4,650 42,258 16,675 Dec. 31.... 34,925 31,845 3,080 1,522 1,558 4,607 4,176 42,938 14,558 i Including rediscounts and overdrafts. J Including certified and cashiers' or treasurers' checks outstanding. J Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued CO QO [Amounts in thousands of dollars] CITY OF LOUISVILLE Loans and investments Call date Total a c L n o d o u a n d n t i s s s l - Total Inv G s e m U e o s c . v t e S m u e n . r r e t i n - n - ts s O e t c i t e h u s e ri r - b f D a ro n u m k e s s C a d p u n i a r v r d p o p i i f d l u t i u e a t n s s d l - , , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p i o m s e its d U S e n p ta i o t t s e e i d s ts D ba u n e k t s o d d e e p N m o e a s t i n t d s3 m m d G N a e e t o e n p n i v m t d o t e d s a e p r i e n n t l - s u d - sR F re b w e e s a s d e i e n e t r r h k v r v a e e l p c r a B o e a y u d n i a l n i d l b s s t - l s e r N b b e a e i p u n r n o m g k r o s t - f ties 1925 Dec.31 138,898 108,888 30,010 10,756 19,254 7,862 16,831 125,461 57,459 41,098 600 26,304 67,274 108,972 7,373 7,373 8 1926 Apr. 12 136,936 107,480 29,456 12,184 17,272 8,050 17,073 124,232 57,306 43,030 500 23,396 65,351 108,881 7,867 6,472 8 June 30 134,735 104,369 30,366 11,485 18,881 7,208 17,174 125,226 57,733 42,285 361 24,847 67,699 110,345 7,484 3,862 8 Dec.31 140,271 106,799 33,472 14,569 18,903 9,074 18,384 129,326 60,955 44,441 299 23,631 66,854 111,594 7,808 6,450 8 CITY (DF MEMPHIS 1925 Dec.31 72,947 64,631 8,316 1,745 6,571 13,899 11,829 92,090 42,868 25, 548 87 23, 587 45, 637 71,272 5,735 1,836 5 1926 Apr. 12 70,908 62,271 8,637 1,399 7,238 11,554 11,735 84,903 42,352 25,708 126 16, 717 43, 662 69,496 5,022 1,130 5 June 30 66,024 58,881 7,143 556 6,587 10,284 11,936 75,956 37,901 26,021 80 11,954 37,286 63,387 4,719 2,743 5 Dec.31 68,052 59,936 8,116 496 7,620 11,438 11,322 79,874 38,565 26,550 44 14, 715 37,459 64, 053 4,958 5,415 4 CITY OF ST. LOUIS 1925 Dec.31.... 483,074 354,417 128,657 50,873 77,784 31,556 72,421 522,504 295,129 129,433 9,043 319, 579 458, 055 34, 223 7,550 23 1926 Apr. 12.... 504,323 376,429 127,894 53,872 74,022 30,656 76,867 530,695 285,288 145,060 13, 028 87,319 311,917 470,005 36,911 10,304 22 June 30.—. 493,163 358,937 134, 226 52,508 81,718 29,863 76,771 506,392 272,884 140,891 7,948 84, 669 303,962 452, 801 30,855 10,675 23 Dec.31.._. 495,370 368,885 126,485 37,810 88,675 31,154 79,128 520,298 292, 271 138,108 6,865 83,054 310,886 455,859 36, 775 11, 234 24 1 Including rediscounts and overdrafts. 2 Including certified and cash iers'or treasurers' checks outstanding. 3 Pemand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 8 ST. LOUIS 387 No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 1926 1926 1962 (628 banks) (622 banks)(619 banks) (609 banks) RESOURCES Loans and discounts 949,763 970,713 950,912 946, 211 O verdraf ts _ 1,696 1,574 1,434 1,169 United States Government securities 138,109 141,291 135,854 119,929 Other bonds, stocks, and securities 222,909 221,201 232,387 246, 232 Total loans and investments.. 1, 312,477 1, 334, 779 1,320,587 1,313,541 Customers' liability on account of acceptances 1,369 644 1,005 1,595 B anking house, furniture, and fixtures 37,805 38,326 38,546 39, 576 Other real estate owned _ 8,051 8,060 8,152 7,675 Cash in vault _ 25,409 22, 576 22,384 23,146 Reserve with Federal reserve bank. _ 81,912 82, 611 76,904 83,017 Items with Federal reserve banks in process of collection 45,068 40,081 36,030 42,709 Due from banks, bankers, and trust companies _. 127,239 114,311 110,096 116,003 Exchanges for clearing house, and checks on other banks in same place _ _ 29,903 23,304 20,011 27,825 Outside checks and other cash items 3,979 2,708 3,723 3,783 Redemption fund and due from United States Treasurer. 2,032 2,027 2,033 2,026 United States securities borrowed i 2,409 2,372 4,479 3,896 Other securities borrowed 1 60 93 24 Other assets 10,891 9,780 15,335 Total. 1,686,342 1,682,750 1,653,823 1,680,151 LIABILITIES Capital stock paid in 111, 156 113,647 113,432 113,245 Surplus fund 60,004 60,920 61, 501 62,429 Undivided profits, less expenses and taxes paid 26,296 29,000 27,987 29,383 Reserved for taxes, interest, etc., accrued 4,912 6,237 3,904 3,315 Due to Federal reserve banks 851 339 265 223 Due to banks, bankers, and trust companies 203,879 178, 568 171,947 172,854 Certified and cashiers' or treasurers' checks outstanding. 10,523 10,358 11,221 10,595 Demand deposits 707,011 690,169 673,412 686,910 Time deposits _ _ 452,196 479,134 476,569 479,590 United States deposits. 12,590 16,123 9,865 8,560 Total deposits _ Agreements to repurchase United States Government 1,387,050 1,374,691 1,343,279 1, 358, 732 or other securities sold Bills payable (including all obligations representing 853 265 65 6,857 money borrowed, other than rediscounts) Notes and bills rediscounted (including acceptances of 16,700 16,719 18,876 26,079 other banks and foreign bills of exchange or drafts sold with indorsement) 13,047 14,429 16,747 10,854 Letters of credit and travelers' checks sold for cash and outstanding _ 36 55 151 108 Acceptances executed for customers _. 1,432 651 1,003 1,631 Acceptances executed by other banks for account of reporting banks 2 2 National-bank notes outstanding 40,271 40,317 40,283 40,067 United States securities borrowed _ 4,325 4,396 4,479 Other securities borrowed _ _. 65 374 93 24 Other liabilities _ 20,195 21,047 22,021 23,531 Total. 1,686,342 1,682,750 1,653,823 1,680,151 Exclusive of securities borrowed by national banks prior to June 30, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

388 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE: OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having a Banks in cities and towns havpopulation of— ing a population of— Date Total Total Less 5,000 15,000 100,000 Less I 5,000 15,000 100,000than to to and than [ to to and 5,000 14,999 99,999 over 5,000 14,999 99,999 over 1923 Apr. 25.... 655,635 122,309 76,074 89,800 367,452 359,638 60,570I 37,355 62,761 198,952- May 23... 664,250 126,667 78,645 87,530 371,408 361,382 62,168! 37,485 61,271 200,45& June 27.... 651,351 125,606 77, 574 88,902 359,269 370,379 65,621 40,042 63,159 201,557 July 25.... 645,750 122,518 74,971 89,101 359,160 381,839 66,317 40,756 63,231 211,535- Aug. 29... 629,861 118,832 72,543 85,483 353,003 383,968 66,288 40,895 63,645 213,140 Sept. 26--. 612,672 113,570 72,045 81, 965 345,092 382,144 65,407 40,894 62,413 213,430 Oct. 24.... 616,743 114,957 71,066 83,455 347,265 386,834 65,666 41,381 62,135 217,652' Nov. 28... 629,013 117,048 72,630 85,339 353,996 391,830 66,188 41, 991 62,098 221,553 Dec. 26.... 642,151 116,066 76,295 86,519 363,271 385,981 65,779 41,839 62,158 216,205. 1924 Jan. 23—. 655,261 114,718 72,387 90,018 378,138 398,521 67,606 42,430 63,547 224,938 Feb. 27.... 643,005 115,234 70,752 85,485 371,534 406,098 68,370 43,077 65,026 229,625> Mar. 26... 635,996 113,636 70,147 84,223 367, 990 407,875 68,972 43,637 64,717 230,549 Apr. 23.... 638,408 113,367 70,486 85,740 368,815 406,682 69,024 43,934 64.775 228,949 J M u a n y e 2 2 5 8 .. . . .. . 6 64 3 1 4 , , 0 0 3 3 4 3 1 1 1 1 2 0 , , 0 8 0 4 5 6 D 6 cOo 6 , , 7 9 1 Q 7 O0 3 o 8 SOfO 5 i, , o£ 4 iq 0 oi\ 0 . 3 3 6 7 7 7 , , 0 8 0 1 9 5 4 4 1 0 1 6 , , 7 1 3 1 0 7 6 7 9 0 . , 7 1 9 4 7 2 4 44 3 , , 0 8 8 7 9 5 6 6 6 6 . , 7 7 7 0 6 5 2 23 2 1 5 , , 2 1 8 8 2 1 : July 23—. 642,807 109,082 66,083 85,235 382,407 410,834 70,121 44,387 68,203 228,123 Aug. 27... 637,219 106, 794 64,895 85,521 380,009 417,571 71,109 44, 591 68,659 233,212: Sept. 24... 650,141 107,822 66,664 85,634 390,021 417,352 71,081 44,423 68,690 233,158 Oct. 29.... 668,086 113,798 70,098 88,133 396,057 431,116 71,991 45,355 69,458 244,312. Nov. 26. .. 690,224 116,392 70, 935 93,405 409,492 436,085 72.798 45,606 70,471 247,210 Dec. 24.... 710,319 118,257 71,914 94,264 425,884 429,809 72,404 45,622 70,991 240,792 1925 Jan. 28.... 732,021 116,682 71,563 97,636 446,140 438,340 74,573 46,992 72,001 244,774 Feb. 25.... 729,176 115,538 71,472 96,509 445,657 438,871 76,493 47,375 73,153 241,85ft Mar. 25... 722,922 113,825 71,193 94,443 443,461 432,651 76,499 47,888 73,490 234,774 Apr. 22.... 708,335 112,892 72, 731 95,038 427,674 435,041 77,853 48,082 73,494 235,612 May 27... 700,591 113, 916 72,516 96,063 418,096 437,801 78,624 47,563 73,089 238,525. June 24_... 693,028 112, 794 71,339 96,121 412,774 441, 929 78,734 49,024 73, 559 240,612 July 29.... 693,094 111,319 69,095 96,341 416,339 446,439 79,863 49,360 73,033 244,183. Aug. 26... 684,599 112, 530 68,264 94,336 409,469 450,158 80, 955 49,456 73,170 246, 577 Sept. 23... 704, 765 118, 785 73,215 97,642 415,123 451,391 81,406 50,042 72,198 247,745, Oct. 28.... 717,386 118, 784 75,234 99,228 424,140 459,884 82,476 I50,541 72,797 254,070 Nov. 25... 728,045 117,504 74,447 99,803 436,291 459,517 50,836 73,028 252,745, Dec. 23.... 757,463 117,494 75,090 101,591 463,288 447,233 83,499 50,369 73,485 1926 Jan. 27.... 760,201 115,796 75,329 103,138 465,938 466,253 85,420 51,220 75,348 254,265* Feb. 24.... 745,970 115, 656 75,391 100, 655 454,268 467,704 86,384 52,122 71,831 257,367 Mar. 24... 733,071 113, 735 74,192 96,941 448,203 472,818 86, 678 51,892 76,878 257,370 A M p a r y . 28 2 _ 6 f . c - . . . 7 73 4 3 2 , , 0 0 9 3 1 9 1 11 1 4 3 , , 6 9 2 1 1 9 7 75 5 , , 0 5 9 7 3 4 9 9 6 8 , , 4 5 2 6 9 7 4 4 5 4 6 4 , , 4 46 6 7 0 4 4 7 8 9 1 , , 3 6 5 4 4 4 8 88 7 , , 4 5 3 4 3 8 5 5 2 2 , , 2 4 2 9 9 1 7 7 5 7 , , 9 27 5 5 9 2 2 6 6 2 4 , , 3 7 0 6 2 1 . June 23.... 730, 589 113,855 74,178 97,173 445,383 477,187 88,295 52,481 76,184 260,227 July 28.... 728,450 112,134 71,189 97, 967 447,160 481, 680 88.474 52, 652 78,385 262,169 Aug. 25... 715,929 109,108 69,647 98,602 438, 572 488, 909 89,096 53,206 78, 611 267,996, Sept. 22... 718,580 110,178 70,670 96,554 441,178 487,071 89, 576 53,144 78,827 265,524 Oct. 27.... 731,668 111, 174 71,650 96,773 452,071 489,760 90,449 53,098 78,815 267,398- Nov. 24... 726,420 108,279 70, 920 96,911 450,310 489,663 90,362 53, 610 79,507 266,184 Dec. 29.... 736,752 107,462 71,033 98,181 460,076 477,984 53,190 79,768 256,100- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 8 ST. LOUIS 389 No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Gov- Loans and investments ernment deposits Re- Borserves rowwith ings Date (Wednesday) Loans In- Net Gov- er F a e l d r - e- f F ro ed m - Total Total O c t n u i e r s s i e - - o A th l e l r m ve e s n t t - s Total m d a e n - d Time \ m er e n n - t s b e a r n v k e e s b r e a a r l n v r k e e- Weekly averages: 1922.... 558,041 426,409 142,107 284, 302 131, 632 495, 963423,052:165,244 7, 41, 244 11,321 1923 623,430 460,448! 153,420 307, 028 162, 982 546, 513553,444! 186,269 6,802 40, 89227,396 1924 625,038 472, 843 160, 737 312,106 152,195 571,177363,857)203,519 3,801 44,117 9,636 1925 667,997 499, 334 189, 772 309, 562 168, 663 615,024300, 364 208,446! 6,213 47, 249 9,551 1926 695,956 520,166 204,705 3155,, 461175, 790 630,490 408,176 216,853 5,461 47, 591 17, 692 1926 Jan. 6. 693,047 521, 064 217, 500 303, 564 171,983 651, 262434,878 210,103 6,281 53,320 10,326 13. 699,005 527, 712j221, 694 306,018 171, 293 651, 734434,813 211,057 5, 51,168 8,408 20. 701,420 530, 210(223, 746 306, 464 171, 210 651, 664428,131 [217, 669 5, 48,780 11,160 27. 701, 792530, 965 225, 303 305, 662 170, 827 654, 315430, 264 218,187 5,864 50,5991 8,269 Feb. 3. 702,119 533, 711 223, 389|310, 322 168, 408 653, 428,211i219,191 5,864 49, 003! 9,488 10. 703,439 535,478 222,207 313, " 432, 577J221, 741 5,864 50, 302 7,411 17. 702,488 534,330 221,034 313, . . 423, 354 221, 662 5,864 47,006 14, 793 24. 697, 215528, 777 213,618 315,159 168, 438 645, 3264!18,944J220, 518 5,864 49,020 14, 745 Mar. 3. 700, 537532,057 218,173 313,884|168, 480 6413,,457 419, 4711218,122 5,864 50,940 16, 748 10. 698, 671530,555 215»,, 271 "3~1 5~, 284 168,116 644•,-, 499419, 56l|2l9,074 49,871 11, 662 17. 705, 790529, 580 211, ,5 2„4_ .3 18,,056 176,2' 10 ~645,333 413,083 219,550 12,700 47, 861 14,328 24. 707, 514530,065 212,979) 331177,, 086 177, 449. 640,931 411, 339 219, 693 9,899 46, 96518,182 31. 701, 622530,923 215,42i 23"1"5, 501170, 699634, 2751404, 715 219, 638 9,922 47, 210 22,167 Apr. 7 694,211 391 213, 775 316, 616 163,820 631,8364!05, 075 216, 839 9,922 48,491 14,984 14 _ 699,551 038 213,907 316,1311169, 513 638, 891410,9681218, 056 9,867 44, 844 14,429 21 694,876525, 457 212, 765 312, 692169,419 627, 754002, 675 i 216, 9168,159 46,848 16, 517 28 690,667524, 253 210, 770 313, 483J166, 414 633, 724209, 923 215, 651 8,148 49,123 12,454 May 1 5 2 6 6 9 9 3 0 , , 5 7 8 9 6 7526,407 213, 512 312, 895 167,179 636, 06 4 43 1 0 2 6 , , 6 2 0 1 1 6 2 2 1 1 6 5 , , 9 6 0 4 3 3 7 7 , ,8 4 1 1 9 1 4 4 7 9 , , 6 7 2 6 8 41 11 3 , , 6 7 2 5 3 7 19 _ 704,465516; 451 206; 290 310,161 i 188,014 628, 744014, 758 217, 481 6,502 47, 323 14, 542 26 700,237505,216199, 041 306^ 175 195', 021 622, 9 [ 2 3 4 98,838 217,837 6,249 45, 63412,104 June 2 678,801497,835 198, 638 299,197 180,966 614, 606 391, 952 216,405 6,249 44, 77420,038 9 ....683,417502,163 200,779 301, " — 399, 401 215, 277 6,415 44, 482 12,304 16 682,642503, 788 199, 860 303, ;405,009 214,498 6,249 47,336 10,040 23 683,521502, 093 200, 592 301, 501181,428 618; 403898, 697 213,462 6,249 46, 23116,433 30 684,058506,361 201, 451 304,910 177,697 621, 305J402,155 213, 682 5,468 43, 755 16,160 ! July 7 680,108504,407 196, 476 307, 931175, 701 626,332408,923 212, 230 5,179 48,812 11, 540 14 685,582508, 606 199, 277 309,329 176,976 627,140409,682 212, 679 4,779 46,154 15,358 21 686,361508,956 200,657 30188,, 299 177,405 617; 543!399,192 213, 571 4,780 46, 67818, 401 28 685,722509,903 197•,; 533 312, 370 175,819 619,940030,095 215,028 4,780 47, 393 14,349 Aug. 4. 685,836 511, 465 195,222 316, 243 174, 371 620, 999 J398, 675 217, 5444,780 45,840 18,435 li- 690,088 514, 296 194, 549 319, 747 175, 792 623,168 400, 4,183 45, 726 14, 946 is. 693,879 516,963 193, 507 323,456 175, 916 616, 347 391,840 220, 7503,757 44,438 20,865 25. 690, 002514, 300 192, 574 321, 726 175,702 614, 600 391, 051 220, 6920,859 46, 060 19,857 Sept. 1. 691,360 515,806 195, 052 320, 754175, 554 618, 940396,982 219, 098 2,860! 46,382 20, 610 1 8 5 . . 7 6 0 9 1 2 , , 9 8 2 5 3 1 5 5 2 16 3 , , 2 5 1 1 3 4 1 . 1 9 . 9 7 7 \_ , , : 2 1 3 1 5 1 3 3 2 1 5 9 , , 9 4 7 0 8 3 1 1 7 7 8 6 ,7 , 1 7 3 01 3 06 7 3 6 6 63 2 ,6 1 , , 4 9 7 44 47 1 0 53 0 , , 1 3 4 7 5 7 2 2 1 1 7 8 , , 2 6 4 8 1 0 2 6, , 1 8 2 5 0 9 4 4 7 9 , , 9 7 8 8 1 8 2 1 1 9 , , 3 0 9 0 2 1 22. 705, 728552266,, £507 194,401 332,106 179,2 2"1 617,205|393,159 217, 923 6,123 47,164 33,348 29. 707, 9985—2 9, 9£12 193, 592 336,320 178,086 619, 360395,875 217, 362 6,123 45, 53929,099 Oct. 6. 706,126 528, 265 194,134 334,131 177,861 626,173401,159 218, 891 6,123 49, 81124,421 13. 713, 472534, 981195,108 339,873 178, 491 639, 064415, 5691218, 319 5,176 48,067 21,782 20. 706,815 528, 741 193, 588 335,153 178,074 625,884404,900 218,026 2,958 47, 62127,270 27. 707,143 528, 722 195,289 333,433 178,421 623,347401,758 219,093 2,496 46, 54226,255 Nov. 3. 703,494523,718 196,108 327,610 179,776 624,729403,487 218,746 2,496 45,141 28, 652 10. 700,568519,854 198,581321,273 180,714 622,608403,720 216,768 2,120 23,791 17.. 695,657515,613 201,633 313, 980 180, 044 618, 720399, 221 218, 019 1,480 48, 51024, 784 24. 694,339514,572 196,174 318,398 179,767 621,223401,369 218,518 1,336 45,984 19, 320 Dec. 1. 693,900514,254 196, 678 317, 576 179, 646 623,842404,806 217, 700 1,336 46,721 21, 738 8. 690,874511.,, 411197, 598 313,813 179,463 625, 346171,703 212, 341 1,323 46,895 15,827 15. 699,761517',, 866 202,104 315, 762 181,895 632,447117,153 211,434 3,884 48,823 23,835 22. 698,122514,300 203,361 310, 939 183,822 622,512407, 294 211, 344 3,874 49,309 31, 068 29. 687,551506,955 202,970 303,985 180, 596 620,832405, 798 211,149 3,885 46, 98720, 987 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS 00 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Month Reserves Borrowwith ings from Loans Federal Federal Total I m n e v n es t t s - Total de N m e a t nd Time G m ov e e n r t n- re b s a e n r k ve re bb s a e n r k ve Total On All other hj securities o 1922 o January 542, 779 438,131 140,447 297, 684 104, 648 469,451 309,408 154, 663 5,380 43, 606 28,030 February 545,883 436,221 140, 393 295, 828 109, 662 483,130 315. 608 156,675 10, 847 45,103 16,065 March__ 541, 525 430,702 138, 649 292,053 110, 823 480, 756 314, 728 158, 111 7,917 43, 996 11, 744 H April.. 533, 666 420, 585 136, 612 283, 973 113,081 482, 344 316.481 159, 546 6,317 44, 016 8,242 W May 541, 583 416,454 138, 910 277, 544 125,129 484, 822 318, 037 161,069 5,716 44, 505 8,667 June__ 540,472 408,489 136, 726 271, 763 131, 983 484, 549 315, 978 160, 659 7,912 43, 294 5,546 J A u u ly gust - 5 5 4 5 3 0 , ,0 68 4 6 4 4 41 1 2 1 , ,2 8 8 7 1 8 1 14 3 2 8 , , 8 9 7 3 3 2 2 2 7 6 2 9 , , 4 9 0 4 8 6 1 1 3 3 2 7 , . 1 4 6 0 6 5 4 49 8 4 3 , , 5 3 3 6 9 5 3 3 1 2 6 1 , , 2 3 4 7 8 5 1 1 6 6 8 3 , ,1 7 1 5 6 3 4 4 , , 0 36 4 4 8 3 3 7 7 , ,0 5 0 9 6 4 3 3 , , 3 9 9 2 0 0 September. 558, 810 416, 643 139,105 277, 538 142.167 500,447 324, 250 170, 984 5,213 37,172 6,699 October... 582,254 431,288 143,480 287,808 150, 966 513,149 329, 210 173, 566 10,373 37, 855 10,967 November 600,993 443,020 151, 372 291, 648 157, 973 528, 305 339, 498 177,101 11, 706 38, 966 16,248 December 614,311 451,876 156,924 294, 952 162,435 545, 614 355.482 177, 668 12,464 41, 789 17, 639 1923 January 624,054 456, 928 158, 415 298, 513 167,126 569,834 181, 490 7,446 44, 296 6,780 February. _ 625,479 457,802 155, 794 302,008 167,677 566,610 380,051 182,241 4,318 43,548 5,705 March 627, 599 458,857 154,159 304, 698 168, 742 564,275 373, 682 183, 573 7,020 43, 649 11,945 April. 621,223 455,683 153,078 302, 605 165, 540 558,340 365,863 183,030 9,447 42, 735 15,112 May 623, 044 456, 732 150,357 306, 375 166,312 556, 619 361, 951 182,883 11, 785 41, 541 17,918 June 623, 250 4(i2.384 150,906 301,478 170,866 542. 918 350, 782 181, 902 10, 234 39, 608 26,193 July... 615,821 449,994 148,318 301, 676 165,827 538,243 344,633 186, 515 7,095 38, 778 30,283 August.. 620,140 459, 228 149, 797 309,431 160, 912 536, 576 341,278 190, 735 4,563 40, 465 33,507 September 623,009 464,006 152, 362 311, 644 159,003 529,350 334, 676 188, 940 5,734 39,072 43,807 October 624,072 153, 855 315, 841 154, 376 526,719 330,027 190,467 6,225 38,486 49,306 November 624,898 471,445 155. 201 316, 244 153, 453 528,266 332,053 193, 250 2,963 38, 572 48,117 December 629,177 472,427 159,115 313, 312 156, 750 539,496 345,335 190,073 4,088 39, 654 40,596 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 630,314 471, 545 160,997 310, 548 158, 769 560,035 358,065 197, 059 4,911 41, 801 27,544 Februarys _ _ 628,322 470,676 158,039 312, 637 157. 646 560,004 354,007 201, 702 4,295 42, 640 20,345 March 623,143 467, 293 156,361 310,932 155,850 557,091 350, 503 201, 525 5,063 41,187 17,547 April _ 618, 777 467, 286 155, 222 312,064 151, 491 560, 583 354, 994 200, 338 5,251 43,250 15, 615 May. 619,804 465, 651 155,167 310, 484 154,153 558, 505 353, 524 201, 565 3,416 42,128 7,253 June 607, 568 456, 801 151, 717 305, 084 150, 767 553,084 353,444 197, 234 2,406 43, 237 5,807 J A u u l g y u - s . t 6 6 0 1 7 0 , , 3 0 1 5 8 5 4 46 5 6 8 , , 8 6 0 5 4 6 1 1 5 5 2 5 , , 8 1 6 2 7 2 3 3 1 0 1 5 , , 5 9 3 3 4 7 1 1 4 4 8 3 , , 2 6 5 6 1 2 5 5 6 5 3 9 , , 1 9 8 5 3 0 3 3 5 5 8 8 , , 4 18 2 6 5 2 1 0 9 3 8 , , 6 3 3 4 6 6 2 2 , , 1 3 7 6 9 1 4 43 3 , , 4 9 0 6 0 7 2 1 , ,2 7 8 7 5 8 September 619, 933 473, 980 161, 031 312, 949 145, 953 572, 552 366, 679 202, 836 3.037 44, 650 4,190 October 630,065 482, 088 162, 337 319, 751 147,977 581,305 367, 783 209, 703 3,819 45,028 5,826 November 642,117 491,951 172, 697 319, 254 150,166 603,198 384, 995 215, 433 2,770 49, 345 3,390 December 656, 031 495, 814 182,083 313, 731 160. 217 618, 669 400, 599 212, 650 5, 420 48, 320 2,520 I 1925 January 671,665 505,604 192,817 312, 787 166,061 635,276 415,367 212, 533 7,376 49,971 531 February.., 676,443 514,056 199,956 314,100 162,387 639,179 420,455 212,103 6,621 50,475 2,574 March _ 680,863 510,341 191, 708 318,633 170, 522 638,494 421,304 204, 500 12,690 49,229 2,956 April 668,432 495,265 186,903 308, 362 173,167 622,245 403,055 203,825 15, 365 47,401 5,699 May _. 664,393 484, 597 181,862 302, 735 179, 796 606,079 391.698 204, 727 9,654 46,938 6,755 June 649,211 474,842 178,907 295,935 174,369 598,127 386,318 206,176 5,633 44,727 7,457 July 644,437 479,694 180,634 299,060 164,743 592, 771 382,991 207,475 2,305 43,856 6,642 August 651,884 486,957 178,056 308,901 164,927 591,679 381.699 208, 549 1,431 45,007 11,747 September _. 665,840 498,947 180,087 318,860 166,893 598,060 385,054 209, 506 3,500 44,563 19,138 October 677,905 512,470 190,925 321, 545 165,435 609,943 392,096 214,384 3,463 46,828 17,975 November 677,276 509,904 198,812 311,092 167, 372 614,720 399,396 213,642 1,682 49,135 18,039 December 688,741 520,146 215,571 304, 575 168, 595 636,364 426,023 205, 736 4,605 49, 724 13,426 1926 January 698,816 527,488 222.061 305,427 171,328 652,244 432,022 214,254 5,968 50,967 9,541 February 701,315 533,074 220.062 313,012 168, 241 652,413 425, 771 220,778 5,864 48,833 11,609 March 702,827 530,636 214,674 315,962 172,191 641,699 413,634 219, 215 8,850 I 48,569 16,617 April 694,825 527, 534 212,804 314, 730 167,291 633,049 407,160 216, 865 9,024 ! 47,326 14, 596 May 697,271 517,684 207,436 310,248 179, 587 629, 564 405,603 216,966 6,995 I 47,587 13,007 June 682,488 502,448 200,264 302,184 180,040 620, 234 399,443 214,665 6,126 ' 45,315 14,995 July 684,443 507,968 198,486 309,482 176, 475 622, 730 404,473 213, 377 4,880 ! 47,259 14,912 August. 689, 701 514,256 193,963 320,293 175,445 618, 779 395, 541 219, 343 3,895 45, 516 18, 526 September 699,972 522,390 195,478 326,912 177, 582 622, 786 399,908 218,061 4,817 47,371 24.690 October 708,390 530,178 194, 530 335,648 178, 212 628,617 405,847 218, 582 4,188 48,010 24,932 November 698, 514 518,439 198,124 320,315 180,075 621,820 401,949 218,013 1,858 46,929 24,137 December. 694,041 512,957 200, 542 312,415 181,084 625,005 409,351 212, 794 2,860 47, 747 22.691 CO CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN ST. LOUIS—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS CO CO [In thousands of dollars] to Net demand, time, and Government Loans and investments deposits Reserves Borrowwith ings from Due Date (Wednesday) Loans Federal Federal Due to from reserve reserve banks banks Total On se- I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- bank bank Total curities All other 1926 Jan. 6 __. 441,718 329,945 164,682 165, 263 111,773 423,708 294,282 123,991 5,435 35,952 3,072 100, 452 39, 270 13 445, 592 335,421 167, 565 167,856 110,171 425, 780 296, 358 124, 346 5,076 33, 783 894 92,462 36,286 2 20 7 . . . ._ _ 4 44 4 7 5 , ,3 6 3 9 2 4 3 33 3 8 6 , , 6 0 4 1 3 2 1 1 6 7 8 0 , , 9 5 4 4 2 9 1 1 6 6 7 7 , , 4 7 6 0 3 1 1 1 0 0 9 9 , , 0 3 5 2 1 0 4 4 2 2 3 5 , , 1 0 6 1 1 2 2 29 9 2 0 , , 2 20 7 3 2 1 1 2 2 7 7 , , 8 6 8 6 2 4 5 5 , , 0 0 7 7 6 6 3 3 2 3 , , 4 7 5 7 3 0 2 1 , , 0 73 4 9 8 9 9 1 7 , , 5 7 2 6 3 0 3 2 5 9 , , 1 6 6 1 6 4 Feb. 3 448,736 341, 501 169, 537 171,964 107, 235 424, 753 290, 842 128, 835 5,076 32, 730 4,404 94, 049 31,043 10 450,188 343,272 167, 995 175, 277 106, 916 429, 527 295,157 129, 294 5,076 33, 372 2,872 94,142 30,649 17 450,288 342,727 166,655 176,072 107, 561 419,810 285,352 129, 382 5,076 30,479 8,913 91, 919 30,447 24__ 443,866 336, 561 160,254 176, 307 107, 305 414,023 280, 389 128, 558 5,076 31,838 7,283 87, 895 29,820 Mar. 3 446,367 338,957 162, 641 176, 316 107,410 416,267 284,345 126, 846 5,076 33, 538 7,839 84,199 28,291 10 446,846 339,459 159, 723 179, 736 107,387 418,661 285,822 127, 763 5,076 33,820 4,587 89, 594 28,171 17 ._. 453,195 338,313 155, 518 182, 795 114, 882 421.958 282,030 128,115 11,813 31,777 6,261 86,811 29, 655 24 454,080 338,386 157,495 180, 891 115, 694 417,405 279, 384 128, 777 9,244 31,090 11,102 81, 633 28,070 31 448, 940 339, 597 160,166 179, 431 109, 343 412, 719 274, 502 128, 973 9,244 11, 518 82, 245 Apr. 7 443, 957 339,193 158, 552 180, 641 104, 764 408,113 269,199 129, 670 9,244 31, 718 85, 596 27,881 14 447,861 338,665 158, 749 179, 916 109,196 415, 234 277,372 128, 673 9,189 29,405 7,064 83,712 28,196 21.. 442,497 334, 281 157, 675 176, 606 108, 216 407,476 271,053 128,820 7,603 31, 491 6,844 83,908 27,392 28 _ 439,852 333, 613 155,475 178,138 106, 239 409.959 274, 262 128,105 7,592 32, 790 4,892 83, 928 30, 782 May 5 441,332 335, 699 158,837 176,862 105, 633 411, 676 276, 584 127, 806 7,286 33,017 5,191 88, 392 30, 682 12. 440,053 334,139 157, 754 176, 385 105, 914 412,073 277,057 128,112 31, 965 4,008 85,142 30, 301 19.... -. 454, 565 328,339 153,044 175, 295 126, 226 404, 705 270,154 128, 492 6,059 30, 557 7,109 82,184 29,022 26 450,335 318,143 146, 785 171, 358 132,192 264,146 128,896 5,824 29, 515 6,293 79,047 30,833 June 2 429,180 312,753 146,288 166, 465 116, 427 385, 671 253,494 126,353 5,824 27,448 15,180 83, 605 31,634 9 435,168 317,696 147,895 169,801 117, 472 396, 533 265,431 125, 278 5,824 28, 274 7,914 80, 797 28,004 16 434, 510 318,768 145,160 173, 608 115,742 403, 516 272,815 124, 877 5,824 31,422 5,128 84, 227 31,925 23 435,139 317,709 146,970 170, 739 117,430 397,369 266, 869 124, 676 5,824 30,996 10,175 79,470 28,171 30 „.„.. 438,043 321,070 147,217 173,853 116,973 398,385 268, 558 124,731 5,096 27,853 9,164 79,104 26,765 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7.. 437,117 322,246 144,293 177,953 114,871 403,361 274, 745 123, 790 4,826 31,965 8,013 87, 764 29,083 14 442,478 326,671 145, 530 181,141 115, 807 405, 313 276, 215 124, 644 4,454 31,067 10, 382 82, 317 28,434 2 2 1 8 . . . . 4 43 4 8 0 , , 9 7 2 4 7 3 3 32 2 3 5 , , 4 2 0 6 4 9 1 1 4 4 6 3 , , 0 4 8 4 7 9 1 1 7 8 8 0 , , 9 1 5 8 5 2 1 1 1 1 5 5 , , 4 5 7 2 4 3 4 3 0 9 0 9 , , 8 1 9 2 5 4 2 2 6 7 9 0 , , 7 7 6 1 0 8 1 1 2 2 4 5 , , 9 7 0 2 9 2 4 4 , , 4 4 5 5 5 5 3 3 0 1 , , 5 7 7 6 2 5 12 8 , , 4 0 7 1 3 5 8 84 1 , , 0 3 0 9 9 0 2 2 5 8 , , 6 22 9 1 7 Aug. 4.. 440, 830 326, 592 140, 266 186, 326 114,238 399, 785 268, 477 126, 853 4,455 28, 873 12, 392 83, 798 28, 502 11.. 443,098 328, 789 139, 282 189, 507 114, 309 402, 239 271, 329 127, Oil 3,899 30, 000 10,431 84, 854 27,140 18.. 444,058 330, 232 138,131 192,101 113, 826 396, 769 263, 382 129,886 3,501 28, 880 14, 417 82, 797 25, 083 25.. 442, 298 328, 765 136, 821 191, 944 113, 533 396, 622 263, 989 129, 968 2, 665 30, 714 14, 224 79, 207 24, 216 Sept. 1_. 443,124 329,999 138,432 191, 567 113,125 398, 845 268,087 128, 093 2,665 31, 456 15, 096 80,138 24, 700 8.. 443,083 330,023 139, 786 190,237 113, 060 400,464 271,158 126, 641 2,665 32,319 13, 832 83, 795 25,159 15.. 447,446 333, 574 140, 240 193,334 113, 872 412,892 281, 305 126,117 5, 470 33, 395 8, 957 82, 064 25, 710 22.. 449, 208 334, 856 138,028 196, 828 114, 352 396, 860 265, 272 126,115 5,473 31,060 20, 922 77,824 26, 282 447, 234 334, 513 137, 250 197, 263 112, 721 398, 944 267, 682 125, 789 5,473 30, 549 15, 676 77,835 26, 058 Oct. 6_. 444,100 331, 281 138,036 193, 245 112, 819 402,457 270, 527 126, 457 5, 473 33, 430 12, 559 80,142 26,878 g 13.. 451,114 337,385 139, 331 198,054 113, 729 414,744 283,991 126,179 4,574 32,168 8,961 79,334 28,316 g 20.. 445, 334 332,078 137, 615 194,463 113, 256 407,165 278,461 126,177 2,527 31,955 9,126 79, 706 26,816 H 27.. 445, 315 332,336 139,089 193, 247 112, 979 402, 669 273, 680 126,841 2,148 30, 355 12, 722 77,984 30,137 fcd Nov. 3 442,424 328, 673 140,191 188,482 113, 751 400, 997 273,481 125, 368 2,148 14, 691 79, 328 31,642 10.. 439,134 324,447 142,710 181,737 114, 687 400, 600 274, 901 123, 874 1,825 31,853 10, 412 80,406 28,119 17.. 436,031 321, 550 146,044 175, 506 114,481 398, 652 272,436 124, 942 1,274 32,072 9,585 81,235 31, 510 24.. 435,314 321,246 140,660 180, 586 114,068 398, 793 272, 550 125, 093 1,150 31,019 7,643 74, 776 26, 741 r Dec. 437,831 323, 775 141,566 182, 209 114,056 403, 260 277,091 125, 019 1,150 31, 233 10,079 78, 244 28, 217 437, 219 323,268 142,767 :180, 501 113,951 405, 348 282,842 121, 369 1,137 31,398 5,846 81, 627 27, 721 446,921 330,606 147,432 ! 183,174 116,315 413,265 289,010 120, 651 3,604 32, 711 11,096 81, 690 28, 383 445,093 328,009 149,063 178,946 117,084 404,803 280,901 120, 298 3,604 33, 370 17,132 79, 255 29, 544 435, 227 320,192 148,076 I 172,116 115,035 400, 546 276,870 120,061 3, 615 30, 766 11,764 76, 658 28,133 CO CO CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

394 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] East St. Louis and National Stock Total for 5 centers i Yards, 111.* Month 1926 1925 1924 1926 1925 1924 January I 1,342,698 1,306, 725 1,130, 859 47, 846 44,779 43,316 February I 1,123,586 1,074,542 41, 337 36, 745 37,077 March 1,259,111 1,160, 242 062, 671 44,411 40,236 35, 624 April 1, 220,948 1,177, 677 033,484 45,229 41,109 37,988 May ... 1,209, 919 1,141,405 057,603 49,950 43, 558 44,474 June. 1,225, 233 1,170, 648 035,196 53,008 44,480 37, 891 July 1,235,186 1,138,480 994,401 51,454 48,001 39,847 August. 1,091,983 1,042, 537 959,857 50,969 46, 367 42,50a September.. 1,165,929 1,191, 608 003,066 56.434 48,036 41,165 October 1,329,556 1, 371, 371 212,110 50,924 51,008 47,830 November.. 1,229,843 1,223, 510 081, 663 45,355 43,648 41,141 December... 1, 306,535 1, 386, 724 259, 637 47,135 48, 375 44,296 Total. 14, 740,527 I 14, 385,469 12,812, 216 584,052 536, 342 493,152 Eldorado, Ark.* Evansville, Ind. Fort Smith, Ark.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 13, 353 7,665 6,400 39,989 37, 815 32,661 14,864 14,851 12, 998 February... 11,979 6,877 6,811 32,216 32, 705 27,854 12,513 12, 391 11,593 March 12,250 8,326 7,146 36, 580 38,876 29,133 13,525 12,616 11,099 April. 12,755 9,249 7,791 38, 681 37, 565 27,661 13,564 12,876 11, 585 May_. 12,146 10,954 8,343 42, 234 43,149 31,037 12,147 12,495 11,109 June 12, 684 11,970 7,905 42,362 40,460 28,245 12,234 11,422 9,676 July 12,112 12, 691 8,078 45, 428 43.499 30,177 12,951 11, 599 9,820 August 11,028 11,619 7,661 41,505 39,098 27,554 11, 632 10,942 |10, 713 September. 11,903 11,179 7,423 43,032 39,442 27,305 14,045 15, 582 12,066 October 11,807 11,825 7,052 43,671 I41.500 30,404 16,031 21,129 20, 536 November. 10, 383 10, 727 6,363 39,695 36, 745 24, 316 15,576 18,087 16,720 December.. 10,485 12, 649 7,687 46,934 41,038 37, 715 15,276 18,934 16,227 Total 142,885 125,731 492, 327 471,892 354,062 164, 358 172,924 154,142 Greenville, Miss.* Helena, Ark.* Little Rock, Ark. Month I 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 5,374 5,053 5,296 6,095 5,634 77,265 64,170 February... 5,248 5,128 4,217 4,824 4,526 4,394 75,620 63,050 57,164 March 4,739 4,526 3,492 5,094 6,170 4,818 81,274 63,650 60,293 April 4,517 3,831 3,213 5,303 4,631 4,693 76, 789 62,492 59, 530 May 4,470 3,308 3,519 4,075 3,864 3,950 73, 219 60, 544 58,994 June 3,799 3,163 3,277 4,024 3,713 3,992 65,405 60, 747 52,750 July 3,819 3,222 3,119 4,358 3,831 3,758 76,189 60, 334 56,089 August 3,293 2,912 2,927 4,676 3,578 3,674 77,113 64,065 55, 380 September. 4,319 5,613 3,595 4,982 7,705 4,604 88,897 84,029 67,840 October 5,681 6,599 5,885 6,306 8,600 8,750 102,616 101; 925 98,083 November. 5,195 5,532 5,783 4,764 7,598 8,430 89,450 86, 721 85, 214 December. 4,892 5,950 5,666 4,632 6,273 9,954 84,343 99, 623 89, 390 Total 55, 346 55,472 49, 746 58, 334 66, 584 66, 651 979, 253 884, 445 804, 897 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the nationa summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 8—ST. LOUIS 395 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars.] Louisville, Ky. Memphis, Tenn. Owensboro, Ky.* Month 1926 1925 1924 1925 1924 1925 1924 January _.. 205,654 202,451 173,909 179, 777 178, 576 168, 708 7,460 8,703 7,713 February 192, 594 177, 588 159, 937 142,456 138, 674 128, 827 6,221 6,377 6,268 March 209,256 194,877 168,187 158,101 147,806 129, 554 5,750 6,546 6,174 April 202,313 187, 613 166, 914 142,808 131,140 132,493 5,374 5,494 5,878 May 185,759 174, 701 167,191 138, 361 124,601 121, 252 4,954 4,881 5,528 June 204,613 201,386 161, 641 138,493 122, 382 112, 298 4,681 5,086 5,534 July._ 207,355 202, 235 167, 282 136,911 115,311 109,010 5,368 5,700 5,647 August 185,562 165, 460 158, 597 125,920 107, 381 101, 000 5,031 5,202 5,549 September S 180,109 177, 062 162,444 151,474 175,442 117,902 4,785 5,204 4,858 October 199,840 193,135 172,127 182, 049 212, 511 169, 305 4,801 4,996 5,558 November 187,432 178, 647 159,145 163,009 180, 337 167, 226 4,478 4,532 4,812 December _| 197,677 206, 517 180,196 161, 301 188,946 192,436 6,318 6,755 6,582 Total 2,358,164 2,261,672 1,997,570 1,820, 6601,823,107 11,650,011 65, 221 69,476 | 70,101 Pine Bluff, Ark.* Quincy, 111.* St. Louis, Mo. Month 1926 1925 19241926 1925 1924 1926 1925 1924 January 12,523 12, 230 11, 529 10, 435 828,940 810, 618 691,411 February 10, 303 10, 865 10, 546 9,608 680, 700 662, 525 607, 887 March 10,390 13, 468 13, 901 11, 485 773,900 715,033 675, 504 April 11, 527 13, 725 13, 410 11,136 760, 357 758, 867 646, 886 May. __ 10, 289 13, 406 12,099 11,100 770,346 738, 410 679,129 June... 10, 707 12,309 12, 757 10, 656 774,360 745, 673 680,262 July 11,056 13,128 13,185 10, 413 769,303 717,101 631, 843 August.. 9,768 9,307 12, 522 11, 962 8,979 661, 883 666, 533 617, 326 September 12, 779 17,083 12, 353 11,903 10, 695 702, 417 715, 633 627,575 October 17, 050 17, 496 12, 834 13, 220 12,092 801, 380 822, 300 742,191 November 14, 797 13, 922 12,300 11,352 10, 650 750, 257 741,060 645, 762 December 12, 841 13, 807 12,961 12, 565 11, 649 816, 280 850, 600 759,900 Total. 144, 030 71, 615 152,101 I 148,429 I 128,8989,090,123 8,944,353 8,005, 676 Sedalia, Mo.* Springfield, Mo.* Month 1926 1925 1924 1926 1925 1924 January... 5,753 5,274 4,949 17, 742 13, 059 13,021 February.. 3,871 3,705 3,639 13, 939 12,108 11, 593 March 4,655 4,484 3,923 15, 590 13,168 14,384 April 4,694 4,729 4,216 16,241 13, 629 10, 761 May. 4,817 4,401 4,719 16, 989 14, 034 7,198 June 5,185 4,660 4,273 16, 780 14, 467 8,914 July 4,783 4,866 4,048 17,044 15, 373 11, 661 August 4,197 4,719 4,114 15, 762 14, 022 11,155 September. 4,685 4,590 4,094 15, 431 15,315 12,104 October 5,184 4,498 4,716 15, 862 15, 850 13,343 November. 4,645 3,832 4,050 14, 725 13, 773 12,011 December . 5,495 4,827 4,541 16, 991 16, 640 13, 295 Total 57, 964 54, 585 51, 282 193,096 171, 438 139, 440 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

396 ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES1 IN ST. LOUIS, LITTLE ROCK, AND LOUISVILLE [Rates prevailing during week ending with 15th of month] ST. LOUIS Loans secured by Prime Inter- prime stock ex- s L ec o u a r n e s d Month com- bank change collateral by ware- Cattle m lo e a r n c s i a 2 l loans re h c o e u i s p e ts loans Demand Time 1926 January _ 5 -5H 5 - 5 -5H 5 -6 A M Fe p a b r r r i c l u h a . r y _ __ 4 4 H - - 5 5 3 i . 4^6 4 4 4 ^ ^ - - -6 4 4 4 3 ^ H 4 - - 6 6 6 4 5 3 4 - - 6 6 5 5 - - 6 6 6 May 4 2-h\ 5 -6 J Ju u l n y e . . 4 4 - - 5 5 5 5 -5 V H 2 5 5 - - 6 6 August... 5 -5" ' 5 -6 September -6 5 -5 4^-6 5H-6 October 5 -5M 5V2-d November 43^-5 5 -534 5 -5H 4M-6 5H6 December _ 4M5 5 -5 Yi | 5 -5 5H-6 LITTLE ROCK 1926 January. February. _ March.. April May June July August September. _ October-. November __. December LOUISVILLE January.. . 5 6 6 February.. 5 6 6 March 5 i 6 6 April 5 6 6 May 5 JJune, 6 5 5 -6 5 -6 6 July 53^-6 5 -534 6 53^-6 August 53/6-6 5 6 534-6 September _ ^6 5 5 -5H 5 -6 October 53/6-6 5 5 -6 5 -6 November- 5 -6 5 5H-6 5 -6 December.. 5H-6 5 6 5^-6 COCO 6 6 6 6 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925, in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 9—MINNEAPOLIS No, 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 Gold with Federal reserve agent 60, 539 57, 420 73, 528 54, 552 Gold redemption fund with United States Treasury 2,074 2,059 2,053 Gold held exclusively against Federal reserve notes.. 62, 613 59,479 74,436 56,605 Gold settlement fund with Federal Reserve Board 20, 483 18,760 19,569 23, 545 Gold and gold certificates held by bank 6,873 6,905 5, 867 Total gold reserves 85,144 99,872 Reserves other than gold 3,152 2,200 1,608 955 Total reserves 13,121 87, 344 101,480 Nonreserve cash 903 1,145 1,027 Bills discounted: Secured by United States Government obligations. 551 229 3, Other bills discounted 3,380 2,870 4,223 15,368 Total bills discounted... 4,038 3,421 4,452 18,657 Bills bought in open market 12, 615 18,741 United States Government securities: Bonds 7,569 7,665 8,856 7,122 Treasury notes _ 1,841 7,094 13,145 2,749 Certificates of indebtedness 7,629 4,319 ! 3,787 165 Total United States Government securities.. 17,039 19,078 25,788 10,036 Other securities 621 55 Foreign loans on gold 257 216 Total bills and securities . 34,313 41, 552 30,464 29,316 Uncollected items.. 13, 543 14,199 13,942 14,507 Bank premises 2,774 2,943 2,901 2,103 All other resources. 2,159 2,670 3,495 3,526 Total resources 146, 813 149,853 153,309 140,328 LIABILITIES Federal reserve notes in actual circulation. 70,161 71, 761 64,952 Deposits: Member bank—reserve account 50,946 53,071 55, 967 46,904 Government 1,567 1,263 1,636 Foreign bank 901 272 67 2«& Other deposits 152 362 355 442 Total deposits- 53, 566 54,968 58,025 49,817 Deferred availability items.. 12,858 13,149 11,883 13,482 Capital paid in 3,064 3,183 3,270 3,498 Surplus 7,527 7,501 7,497 7,484 All other liabilities 907 891 873 1,095 Total liabilities... 146, 813 149,853 153,309 140,328 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) _ 76.0 69.8 78.2 78.4 Contingent liability on bills purchased for foreign correspondents 2,321 1,537 646 397 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

398 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollarsl Bills discounted for member banks Fed- Mem- eral U S n ta i t t e ed s e F i o g r n - T c o as ta h l ba b n e k r s' se r r e v - e se t c i u e r s i- lo o a n ns se r r e v - es se r r e v - e notes gold deposits 1926 Jan. 6 40,893 5,960 2, 742 3,218 15, 552 19,078 88,833 13_ 32,455 4,082 1,136 2,946 9,056 19, 078 93,148 20 30,232 4,411 1,515 2,896} 6,528 19,078 96,332 27 29, 817 3,936 1,011 2, 925} 6,797 18, 870 94, 501 Feb. 3 29, 371 4,054 957 3,097! 17, 920 91,924 50,332! 51,652 64,837 10 30, 941 6,544 3,115 3,429' 17,170 90, 951 51,465 53,162 64, 593 17 31,307 6,788 4,193 2,595 7,210 17,078 94, 210 54,527 56,538 64,629 24 29, 756 5,824 2,484 3,340 7,120 16, 578 95,443 54,146 56,019 64,312 Mar. 3 34,421 10, 518 6, 4, 250J 7,047 16,578 94,423 52,113 60, 572 64,519 10 30? 209 3,876 762 3,114| 7,974 18,078 97,418 50,893 59,642 64,222 17 27,899 6,734 3,591 3,143} 7,430 13,489 93,108 51,920 53,116 64,109 24... 27, 589 4,077 470 3, 607} 7,565 15, 691 99, 912 53,126 55,172 64, 947 31 30,146 4,856 345 4,511 8,083 16, 935 94,116 50,445 55, 751 63,825 Apr. 7 32,436 5,345 312 5,033 9,231 17, 578 282 93,320 52,619 57,366 64, 379 14. 44,906 4,840 388 4,452 20, 528 19,260 278 79, 22952,624 56,505 63,643 21 47,269 6,845 2,048 4,797 19,818 19, 828 278 74,618 51,811 53,725 63,949 28. 46, 703 6,f 5,360 19,170 19, 828 259 69,214 46,805 48, 738 62,526 May 5_ 44,171 7,< 2,615 4,850 16,138 19,828 240 75,455 49,190 52,317 63,034 12 41,625 7,120 2,460 4,660 13,940 19,828 237 76,831 49,568 51,970 62,666 19... 40,634 8,182 3,457 4,725 11,887 19,828 237 77, 88450, 61152, 783!61,562 26 38,367 5,888 679 5,209 11,914 19, 828 237 74,936 46,471 48,876 60,484 June 2 38, 260 4,871 551 4,320 12,441 20,163 285 77, 89749,416 50, 994 60, 671! 9 39,251 5,940 2,546 3, 394!11,822 20, 720 269 76,034 50,358 50, 936 60, 538 68.2 16 33, 811 4,149 989 3,160j10, 713 18,209 240 81,873 50, 24951, 849 59, 908j 73.3 23 34,330 3,701 451 3,250 10, 087 19, 828 214 80,130 49,464 60,807 72.7 30. 32,944 3,758 565 3,193 8,682 19, 828 176 81,887 48,266 49,297 61,42l| 74.0 July 7 35, 582 6,267 2,748 3,519! 8,908 19, 750 157 84,832 51,104 52,498 64,356| 72.6 14 34,583 6,272 2,671 3,60l! 7,881 19, 828 102 81,006 47, 636 49,094 62,990' 72.3 21. 36,731 8,242 3,783 4,459; 8,065 19,828 96 81,100 50,076 51, 586 62,159! 71.3 28 39, 296 10,183 5,581 4,602 8,744 19,— 41 78, 73849,226 52,194 61,412| 69.3 Aug. 4 _. 40,322 10, 793 5,156 5,637 9,201 19, 828 75,865 49,067 51,389 60,929| 67.5 11. 39,029 9,354 4,053 5,301 9,561 19, 614! 74, 06847,623 48,909160,5111 67.7 18. 43,886 12, 896 7,109! 5,787 11,203 19, 287 70,395 47,386 49,098! 60, 9331 64.0 25 44,376 14,060 8, 208! 5, 852; 11,789 17,527, 68,135 46,463 47,897jj 60, 818 62.7 Sept. 1 46, 373 16,218 7, 237! 8,98H 11,778 17,377 69, 82448,371 50,282J 61,294} 62.6 8 44,364| 15,116 6,664 8,452 11,317 16, 931 75,157 50,449 51,490} 64,345 64.9 15. 38, 023 9,231 3,145 6, 086| 11,306 16,486 78, 74448,478 50,3541 63,453 69.2 22 43, 711 7,677 1,690 5,9871 11,848 23,186! 77,648 51, 667 53,424| 63,665 66.3 29. 43,063 6,524 1,036 5,488j 12,454 23,085j 72, 55646, 786 49,024 63,011 64.8 Oct. 6 46,17 7,493 1,218 6,275 13,242 24,436! 74,090 49,107 50,591 65,201 64.0 13 48,816110,138 4,032 6,106 13,242 24,436!. 73,103 52,4711 53,896} 65,104 61.4 20. _. 50, 788!12, 662 7,471 5,19li 13,190 24,436!. 71, 66451,781 53,391! 65,532 60.3 27 43,534 12, 099 7,222 4,877| 13,449 17,486;. 78, 27449,939 51,974j 65,249 66.8 Nov. 3 41,873 10, 500 5,745 4,755! 13,387 17,486'. 82, 57451,277! 53,427! 66,654 10 40, 579 9,720 6,340 3,380i 13,877 16,482!. 85,345 54,030 55, 687! 66,584 17___ _ 40, 340 9, 252 5,484 3,768' 14,0631 16,4911. 85,175 52,465 54,489^ 66,921 70.2 24 34, 604 5,072 1, 483!3,589 12, 520| 16,4681. 88,084 51,351 52,597 66,771 73.8 Dec. 1 34,488 4, 3281 7631 3,565] 13,137! 16, 459; 92,614 52, 881 55,511 67,375 75.4 8 34,363 4,1371 631! 3,506! 12,763! 16,9001. 92, 81151,852 53,768! 68,428 76.0 15 33, 599 3, 997) 774 3,223; 12,969! 16,0691. 90,443 53, 529 54,718! 67,888 73.8 22 35,912 5, 279J 1,679 3,600, 13,276 16, 761L 89,168 50,440! 52,737 69,210 73.1 29 35; 278 4,8601 8241 4,036: 13,061 16,76l|. 90, 52851,022; 52,566' 69,302} 74.3 Daily average 1926.. 38, 552 7, 761j. 11,428| 18, 787 133 83,499 50,,8 071 52,,939 64,282 71.2 1925 37, 285 5, 767i. 13. 585j 17,617 311 87,254 53,310 54,945 65,622 72.4 1924. 36, 845 12, 8751. 2, 2591 21,692 85,936| 49,464 51,425! 67,659 72.2 1923 37,120 24,103!. 7621 12,254| 77,262j 47,781! 50,220 57,442! 71.8 1 Includes Federal intermediate credit bank debentures and municipal warrants as follows: Federal intermediate credit bank debentures, $500,000, Apr. 21 to Aug. 18; $1,000,000, Aug. 25 to Oct. 13; $500,000, Oct. 20 to Dec. 29; municipal warrants, $55,000 on Jan. 6, $8,000 on Jan. 13, $34,000 on Nov. 17, $44,000 on Digitized forN FoRv. A24S, E$6R4, 000 on Dec. 1, $63,000 on Dec. 8, $64,000 on Dec. 15, $96,000 on Dec. 22 and Dec. 29. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 9 MINNEAPOLIS 399 No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL t RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] United Month c c T o p h a d o u u a n is t s n r d - a - e t l s s B T il o l t s a d l is b c e b c o r o e u M n r l n b l o a e t a b e t t m n e a e d s k r n - a f s k o l r c R o m b u e i e d n l m l i t s s e - - d i m b n o B a o u i r p l g k l e s h e n t t F b r b e o e f o B r a s t d u o i h e n l e g m r l e k r s v h r s a e t l m i b U s n S e o a n t t c u a r i o i e u k t g p t s e r e e h e i s d t - n t iF b r s S e o e f e o t s r t t d c i u o a e h e u e g t m r e s e r r v h r i a s e - t l F g l o o o r o a l e n d n i s g s n banks 1926 January 15, 799 11,163 10,430 733 4,630 February 19,946 15, 283 14,404 879 4,357 306 March 25, 964 15, 689 13, 515 2,174 4,405 5,803 67 April 37,033 16, 406 14, 229 2,177 6,550 10,027 3,169 359 522 May 18,220 11,594 9,434 2,160 6,123 215 288 June 20, 888 10, 994 9, 586 1,408 6,264 3,445 169 16 July 25,039 16, 777 14, 839 1,938 4,291 2,256 843 837 35 August... 36, 234 27, 755 25, 986 1,769 6,804 500 5 670 500 September. 45,749 27,037 25, 917 1,120 3,912 2,816 11,984 October 41,306 30, 359 28,607 1,752 4,845 2,001 4,101 November _ 34,506 26,311 25, 294 1,017 4,706 1,800 1,625 December.. 25,435 12, 521 11, 242 1,279 6,170 1,200 5,410 67 67 Total: 1926 I 346,119 221,889 203,483 18,406 63,057 20,600 36, 600 2,102 1,871 1925. ! 227,674 I 92,374 71, 757 20, 617 84, 712 18, 276 29,951 800 1,561 1924 266,596 |i 100,354 57,476 42, 878 15, 834 3,006 144,118 3,061 223 1923 386,711 !| 290,054 194,261 95,793 6,064 90,593 1 Includes securities bought with resale agreement as follows: 1924, $2,012,000, and 1923, $8,802,000; also includes special temporary certificates received from the Secretary of the Treasury as follows: 1925, $7,000,000; 1924, $2,000,000; and 1923, $47,000,000. 2 Includes Federal Intermediate Credit Bank debentures as follows: 1926, April, $500,000, and August, $500,000; also municipal warrants as follows: 1926, November, $64,000, and December, $67,000; 1925, $64,000; and 1924, $7,000. No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Month M ga ic n h 1 i- co W n i s s i - n 1 M so in t n a e- D N a o k r o th ta D So ak u o th ta M ta o n n a - Total Num- b N e u r m ac - ber at commoend of dated months (luring month 1926 January 96 344 9,890 88 700 45 11,163 829 76 February . 75 100 14,345 ' 88 532 143 15, 283 822 68 March 40 82 14, 642 265 486 174 15, 689 822 86 April.. 80 110 14, 752 466 715 283 16, 406 816 112 May 138 353 9,593 694 510 306 11, 594 810 123 June 311 216 9,130 537 476 324 10, 994 806 129 July 256 145 14, 801 632 688 255 16, 777 803 130 August 100 150 25,962 678 585 280 27, 755 799 130 September 82 85 25, 922 489 300 159 27, 037 789 100 October .. 165 234 28, 922 364 604 70 30,359 784 107 November _. 275 277 24, 973 330 416 40 26,311 771 106 December. 452 332 11, 025 284 400 28 12, 521 764 104 Total: 1926__ 2,070 2,428 203,957 4,915 6,412 2,107 221,889 1925 2,716 2,214 73,903 3,430 8,319 1,792 92 374 1924.. 1,229 2,079 64, 095 12,030 13, 448 7,473 100 354 1923 2,408 3,580 232,199 14, 276 19,594 17,997 290 054 Number of member banks at end of year:2 1926 48 50 307 148 109 102 764 1925 . . ' .. 49 53 331 163 122 111 829 1924 49 56 364 174 133 130 906 1923 49 56 375 188 147 164 979 Number of member banks accommodated during the year: 1926' 9 10 91 53 59 48 270 1925 . ... 13 14 99 52 52 60 290 1924 13 21 139 106 95 102 476 1923 18 25 161 118 105 132 559 * Figures relate only to that part of the State located in the Minneapolis district. 1 Banks in actual operation. Figures prior to March, 1925. represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

400 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills $310,424 $231, 342 $578,447 $1, 088, 899 Purchased bills _ 405, 511 440, 784 84, 269 31,414 United States securities 723, 348 676, 696 848, 070 520,724 Deficient reserve penalties.. 16,473 17,414 40,175 91,943- Miscellaneous . 166,577 72,105 58,109 16, 273 Total earnings 1,622,333 1,438, 341 1, 609, 070 1, 749,25a CURRENT EXPENSES Salaries: Bank officers 135,681 125, 552 121, 350 113, 236 Clerical staff 357, 223 375,112 429,493 460,128 Special officers and watchmen 25, 958 25, 568 25, 576 24,041 All other _ 80,091 93, 344 67,148 35,756- Governors' conferences _ 568 645 566 606- Federal reserve agents' conferences 288 300 246 90 Federal Advisory Council ._ 824 991 1,087 1,195 Directors' meetings _ 7,289 8,256 9,052 9,507 Traveling expenses 1 _ _ 35, 222 45, 723 52,454 32, 649 Assessments for Federal Reserve Board expenses 22, 596 23,006 21, 867 23,704 Legal fees _ 30, 701 29, 884 23, 463 14,149 Insurance (other than on currency and security shipments) 28,246 31, 793 29, 600 30,474 Insurance on currency and security shipments 14,091 14,424 16,175 11,409 Taxes on banking house 82, 713 80,031 1,580 1, 59a Light, heat, and power 19, 762 19, 757 1,468 1, 836 Repairs and alterations, banking house 4,540 7,931 426 196 Rent 7,889 43, 399 46, 699 Office and other supplies. 19, 725 22, 891 20,891 23, 860 Printing and stationery.. 25, 568 22, 035 38,063 36, 757 Telephone _ 5,816 5,769 7,310 6,988 Telegraph _ _ 23,277 21,975 23,998 25, 757 Postage 64,373 61, 597 74,683 90,30a Expressage... 8,437 9,553 10, 093 7,955 Miscellaneous expenses... 34,810 32,094 36, 645 32, 622 Total exclusive of cost of currency 1, 027, 7991, 066,120 1, 056, 633 1,031,510 Federal reserve currency, including shipping charges: Original cost 33, 597 28, 255 6,796 40, 005 Cost of redemption .__ 2,361 3,454 1,738 10,622 Total current expenses I 1,063,757 1,097, 829 1, 065,167 1,082,137 PROFIT AND LOSS ACCOUNT Earnings 1,622,333 1,438,341 1, 609, 070 1, 749,253 1, 063, 757 1,097, 829 1,065,167 1, 082,137 Current expenses 558, 576 340,512 543,903 667,116 Current net earnings 79,773 39, 367 170, 570 8,327 Additions to current net earnings.. Deductions from current net earnings: Bank premises—depreciation 166,272 126,411 310,862 40,405 Furniture and equipment 20,870 10,347 48, 938 23,328 Reserve for probable losses 200,000 Reserve for depreciation, United States bonds.. 53,856 All other 3,174 8,167 25, 571 32,399 Total deductions.. 190, 316 144, 925 385, 371 Net earnings available for dividends, surplus, and franchise tax 448,033 234,954 329,102 325,455 Dividends paid _ 187,609 193, 560 202, 828 212, 733 Transferred to surplus account 26,043 4,139 12,628 11,272 Franchise tax paid United States Government. 234,381 37, 255 113,646 101, 450 REIMBURSABLE FISCAL AGENCY EXPENSES 12, 270 15, 290 41, 060 141,087 All other.... 5,270 6,123 10,171 33,360 Total-. 17, 540 21, 413 51, 231 174,447 1 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 9—MINNEAPOLIS 401 No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 2,735 2,869 5,662 7,875 Notes discounted __ 12,515 11, 524 27, 527 35,533 Bills purchased in open market for own account _ 4, 6,078 1,294 365 Currency received and counted 37,254,000 34,419,000 31,575,000 32,174,000 Coin received and counted.. 11,633,000 9, 504,000 8,833,000 9, 906,000 Checks handled 25,286,000 26,563,000 26,219,000 27,433,000 Collection items handled: United States Government coupons paid. 1,025,000 1, 094,000 1,228,000 1,747,000 All other 320,000 343,000 368,000 340,000 United States securities—issues, redemptions, and exchanges by fiscal agency department _ 86,000 128,000 247,000 i 5,072,000 Transfers of funds _ 64,000 63, COO 67,000 70,000 AMOUNTS HANDLED Bills discounted... $221,889,000 $92,374,000 $100,354,000 $290,054,000 Bills purchased in open market for own account 63,057,000 84,712,000 15,834,000 6,064,000 Currency received and counted 207,329,000 191,744,000 172,154,000 179,737,000 Coin received and counted.. j 4,059,000 3, 666,000 2,709,000 2,203,000 Checks handled..- 4,336,350,000 4,012,157,000 3,652,895,000 3,383,365,000 Collection items handled: United States Government coupons paid« 11,016,000 11,086,000 10,478,000 10,974,000 Allother... 151,328,000 151,044,000 154, 614,000 155, 783,000 United States securities—issues, redemptions, and exchanges by fiscal agency department. _ 80,771,000 82,403,000 107,875,000 203,764,000 Transfers of funds _ 2,593,972,000 2,657,304,000 2,405,908,000 2,189,155,000 i Large total due to redemption of war-savings securities which matured January 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] m m It e e e o m m m w b b s n e e d r r d r b a i a s n a w t n d ri n k c n s t o o i n n n - s o e I r n t i v e t m F e s e b b s d r a d e a n r n r k a a c l w h a r n n e d - F I th t e e e b e d m d i a e r n r s t a b k o l f r s o a o r r a e n t w h s n c e e a h d r r r e v d s e - S It o t e a n m te u U s s r e n d T r i r r t a e e w a d s n - Total i Num- Num- Num- Num- Number Amount ber Amount ber Amount ber Amount ber Amount 1926 January 1, 235,876 10 91,079 117 25,008 8,237 363,920 February 1, 198,418 8' 49,509 100 27,117 6,219 1,874 284,616 March 2,064 255,352 8 76,303 121 28,042 7,826 2,283 372,139 April 1,943 238,128 8| 69,330 104 23,836 2,151 343,169 7, r • May 1,840 231,884 58,788 2,026 325,050 June 1,981 260,770 65,245 107 25,904 7,: 2,165 363,776 July 1,843 255,991 68,660 108 25,607 7,544 2,029 362,332 August 1,754 236,656 68,497 103 24,327 8,195 1,935 343,579 September 1,842 256,198 75,749 101 26,857 9,275 2,032 372,080 October 2,007 288,166 80,510 111 26, 727 12,505 2,216 412,443 November 1,957 272,767 76,311 111 25,974 9,154 2,156 388,546 December 2,086 265,840 71,532 126 25,773 9,624 2,297 377,016 Total: 1 1 9 9 2 2 6 5 . . . . . . . . »2 2 4 2 , , 2 9 1 0 3 0 * 2 3 , , 9 5 9 2 6 4 , , 0 4 4 6 6 4 (3) 99 8 OU 5 J 1 L , , 513 1 1 , , 3 3 5 0 2 7 3 3 0 0 8 8 , , 6 1 6 5 6 5 9 90 1 1 4 1 9 0 9 2 , , 8 43 5 1 2 2 2 6 5 , , 5 2 2 5 7 0 3 4 , , 9 3 8 0 9 8, , 6 7 6 2 6 7 1 1 9 9 2 2 4 3 . . . . . . _ . 3 3 2 2 5 4 , , 4 0 3 0 6 7 » ' 3 2 , , 2 9 0 5 5 9 , , 5 5 9 5 6 3 8 (3) 1 1, , 1 1 6 8 5 8 289,845 9 7 3 7 7 0 1 9 0 3 3 , , 6 9 8 7 4 0 2 2 6 7 , , 1 4 9 0 2 5 3 3 , , 6 3 3 6 6 7 , , 6 9 9 1 9 1 * Includes items forwarded direct to drawee banks in other districts as follows: 1926—43,000 items; $50,521,000; 1925-748,000 items, $56,745,000; 1924—60,000 items, $58,453,000; 1923—34,000 items, $24,829,000, excludes duplications on account of items handled by both parent bank and branch. 1 Includes items drawn on Federal reserve bank and its branch, separate figures not being available. 3 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

402 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND- [In thousands of dollars] Federal Transfers for Total Total Transit clearing reserve note Government pay- receipts clearing account ments from Net Net. 1926, week ending— to other other loss gain' Federal Federal Pay- Re- Pay- Re- Pay- Re- reserve reserve ments ceipts ments ceipts ments ceipts banks banks Jan. 6 (5 days) _ 28,820 30,787 430 439 29,250 31,226 1,976 13 37, 584 42,453 669 220 500 38,753 42,673 3,920 20 42,455 45,328 700 457 43,155 45,785 2,630 27 39, 333 38,467 758 350 500 40, 591 38,817 1,774 Feb 3 36,753 35,272 641 220 37,394 35,492 1,902 10 35, 520 34,462 521 158 36,041 34,620 1,421 17 34,315 37,914 380 281 34,695 38,195 3,500 24 30, 539 32,243 366 106 30,905 32,349 1,444 Mar 3 43, 727 43 210 585 456 44, 312 43, 666 646 10 37,342 40, 754 423 207 37, 765 40,961 3,196 17 42,958 51,021 400i 100 12,000 55, 358 51,121 4,237 24 39,101 48,410 412 279 2,000 41, 513 48,689 7,176 31 41,957 36,031 482 309 42,439 36,340 6,099 Apr 7 37,991 38 081 550 254 38, 541 38,335 206 14 49,423 36,307 250 167 1,000 50,673 36,47414,199 21 45,275 44,141 379 318 3,000 48, 654 44,459 4,195 28 37,855 32, 578 469 335 38,324 32,913 5,411 May 5 36,968 44,163 278 158 37,246 44,321 7,075 12 35, 987 38,101 354 185 500 36, 841 38,286 1,445 19 40, 723 42,966 494 431 500 41, 717 43,397 1 680 26 39,203 36,383 458 194 39,661 36, 577 3,084 June 2 32, 780 36, 743 268 167 33, 048 36, 910 3, 862 9 42,976 41,482 493 289 43,469 41, 771 1,698 16 40,146 43, 351 380 426 1,000 3,700 41, 526 47,477 5,951 23 44,360 43,948 432 328 1,000 45, 792 44,276 1, 516 30 42, 518 44, 571 383 235 100 42, 901 44, 906 2,005 July 7 33,317 35,068 368 194 1,500 33,685 36, 762 3,077 14 42,057 37, 811 433 187 42,490 37,998 4,492 21 44,603 44,351 3881 679 44, 991 45,030 39" 28 42,103 39,376 478 500 42, 581 39,876 2,705 Aug 4 40,203 38,901 542 430 40 745 39 331 1,414 11 35, 979 35,072 477 36, 456 35,072 1,384 18 43,156 38,369 381 647 43,537 39,016 4,521 25 44, 576 43,092 339 277 500 45,415 43,369 2,046 Sept 1 37,849 38,880 441 664 38, 290 39, 544 1, 254 8 26,474 34,274 310 234 2,000 28,784 34, 508 5,724 15 44, 507 47, 605 503 294 600 45,010 48,499 3,489 22 44,954 45, 660 402 912 2,666 47, 356 46, 572 784 29 45,881 40,681 790 46,671 40,681 5,990 Oct 6 39,648 40,506 430 700 40,078 41 206 1,128 13 39,915 39,697 608 40, 523 39,697 826 20 48,001 46, 397 406 666 500 1,500 48, 907 48, 563 344 27 41,948 49,114 590 317 42, 538 49,431 6,893 Nov 3 39,970 41,958 226 515 1,000 40,196 43,473 3,277 10 47,288 49,644 664 290 47,952 49, 934 1,982 17 42, 886 42, 567 427 307 500 43,813 42, 874 939 24 .... 44,928 48, 568 489 282 45,417 48, 850 3,433 Dec. 1 39,640 43,140 378 309 40,018 43,449 3,431 8 44,951 44, 718 353 427 45,304 45,145 159 15 52,939 43,946 562 222 7,000 53, 501 51,168 2,333 22 46,036 46,444 467 422 1,000 47, 503 46,866 637 29 37,925 40,019 321 203 38,246 40, 222 1,976 31 (2 days) 12,888 15,033 23 12,911 15,033 2,122 Total: 1926 2,121, 2312,150,058 23, 751 16, 747 28,500 15,4002,173,4822,182, 205 8,723 1925 19,500 9,9002,226,1662, 217, 757 8,409 1924 22,500 6,0002,060,4352,083, 359 22,924 1923 29,100 28, 5001, 754,2601, 764, 515 10, 255 Net gain in ownership of gold since establishment of fund in 1915, $73,033,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] MINNEAPOLIS DISTRICT Loans and investments Net Call date Total L d a o i n a s d - ns Inv G e U o s v t . m e S rn e . n - ts Other b f D r a o n u m k e s s C a d p u n i a r r v d o p p i f i d l u i t u t a e n s s d l - , , de T p o o t s a i l ts D p e o d m s e i - t a s n 2 d de T p i o m s e its d U S ep n ta o i t t s e e i s d ts D ba u n e k t s o ! p d o N e d s m e i e t - t a s n 3 dG de m t o p a i m v m l n e u e a d n s e r n t n d - R F re b w e e s s d a i e e n e t r h r k r v v a e e l p c r a B e o a y d i n u a l i d n l b s s - t l s e r b N b e a e p i u n r n o m g k o r - t s f counts i Total ment securi- deposits securi- ties ties 1921 Dec. 31.. 863, 519 712, 371 151,148 75,249 75,899 87,079 140, 960 818,641 358, 440 363,010 10, 321 86,870 376, 281 749,612 43, 537 74,017 1,017 1922 Mar. 10. 853, 915 694, 281 159, 634 81,429 78,205 109,693 139,863 853,470 364,134 364,168 11, 616 113, 552 389,363 765,147 43, 316 53, 737 1,015 June 30.- 860,178 687,190 172, 988 93, 098 79,890 97,116 139, 416 856,213 373, 341 373, 566 6,568 102, 738 397, 978 778,112 45, 544 50, 944 1,014 Dec. 29_. 884,468 694,346 190,122 102, 473 87, 649 113, 987 140, 995 923, 044 400,371 390, 583 9,002 123, 088 427, 395 826, 980 49, 024 38, 260 1,000 1923 Apr. 3 , 696,213 203,276 111, 261 92,015 108,539 135,421 944,085 392,969 408, 234 9,611 133, 271 440, 497 858, 342 51, 805 31, 885 June 30 _.| 896,956 690, 715 206, 241 115,270 90, 971 97,236 134, 341 916,071 392,095 416, 088 8,394 99,494 411, 586 836, 068 46,937 43,134 989 Sept. 14 ! 889,707 684, 231 205,476 113, 625 91,851 97,195 134, 939 913,040 386,423 417, 529 6,023 103, 065 409,446 832, 998 48, 065 41, 964 977 Dec. 31 | 864,059 655, 794 208,265 114,124 94,141 105,461 132,022 914,775 387, 695 413,926 5,413 107, 741 410, 554 829,893 46, 652 27,102 940 1924 Mar. 31. 854,162 639,310 214,852 121,494 93, 358 106,392' 126, 691 913, 801 386, 065 404, 271 9,521 113, 944 418, 705 832,497 46, 235 17,835 903 June 30.. 824, 547 610, 944 213, 603 116, 912 123,707 123, 376 908, 946 403, 578 5,692 103, 987 404,464 813, 734 47,410 18, 984 895 Oct. 10__ 867, 789 629, 480 238, 309 123, 508 114,801 157,181 125, 202 1, 005, 053 422, 331 412,826 6,903 162, 993 465, 631 885, 360 53, 559 12, 061 890 Dec. 31.. 906,812 630,474 276, 338 143,873 132,465 151,229 125, 050 1, 044, 716 439, 006 430, 315 6,321 169,074 502, 703 939, 339 55, 513 6,384 885 1925 Apr. ( 906,952 611,917 295, 035 149,217 145, 818 122,753 122,137 1, 016, 089 424, 325 441, 834 8,562 141, 368 471, 725 922,121 54,172 5,582 872 June 30.. 596, 944 291, 546 141,178 150, 368 110,190 120,444 988,414 430, 460 435, 281 5,188 117, 485 463,152 903, 621 54,175 7,306 859 Sept. 28. 895, 596 599,488 296,108 140,944 155,164 112,913 118,414 995, 694 426, 309 433,906 8,161 127, 318 466, 087 908,154 53, 789 7,666 Dec. 31.. 893,356 586,117 307, 239 146, 536 160, 703 127,243 116, 395 1, 011, 532 435, 345 437, 717 7,429 131,041 467,828 912, 974 52,192 4,639 829 1926 Apr. 12.. 889,846 575, 372 314, 474 147,845 166, 629 104,869 115,870 983, 280 420, 428 438, 964 9,499 114, 389 450,891 899, 354 53, 592 5,670 817 June 30. 880, 562 567, 763 312, 799 142, 334 170, 465 101,544 114, 627 965, 765 419, 796 435,449 6,009 104, 511 444, 379 885, 837 48,457 5,226 804 Dec. 31.. 861,998 554,196 307, 802 133, 351 174,451 116,230 114, 625 962, 614 406,016 435,897 4,667 116, 034 432, 062 872, 626 50, 606 5,277 764 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued [Amounts in thousands of dollars] CITY OF HELENA Loans and investments Net Call date Total a c L n o d o u a n d n t i s s s l - Total Inv G e m U o s v . t e S m e n . r t e n n - ts s O ec th u e ri r - b f D a ro n u m k e s s C a d p u n i a r v r d p o p i f i d l u t i u e t a n s s d l - , , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p i o m s e its d U S ep n ta o it t s e e i s d ts D ba u n e k t s o d d e e p N m o e a s t i n t d s3 d G e m o p t a m i v l n e m u e a d n s r e n t n d - R F re b e w e s s a d e i e n e t r r h k v r v a e e l p c r a B o e a y u d n i a l i n d l b s s t - l s e r N b b e a e i p u n n r o m g k r o t s - f securi- ties deposits ties 1925 Dec. 31 10,751 6,784 3,967 1,426 2,541 2,115 1,614 13,804 6,875 3,576 28 3,325 7,353 10,957 1,036 4 1926 Apr. 12 10, 294 6,436 3,858 1,704 2,154 1,852 1,638 12,170 5,984 3,694 183 2,309 6,265 10,142 797 4 June 30 _ 10,171 6,321 3,850 1,600 2,250 1,661 1,595 11, 945 5,725 3,758 112 2,350 6,154 10,024 821 4 Dec. 31 11,152 6,639 4,513 1,705 2,808 2,307 1,603 13, 693 6,493 3,717 27 3,456 7,534 11,278 913 4 CITY OF MINNEAPOLIS 1925 Dec. 31 177,136 128,712 48,424 30,276 18,148 22,951 20,868 206, 591 96, 587 50, 245 3,392 56, 367 120,151 173, 788 12,107 730 1926 Apr. 12 168,057 116,878 51,179 32,721 18,458 22,387 20, 815 197,353 94, 579 50,191 3,400 49,183 113,180 166, 771 14, 597 1,905 June 30 170,582 118,824 51,758 31, 215 20,543 18,195 20, 549 192, 663 93,815 52,170 2,117 44, 561 111, 608 165,895 10, 026 125 Dec. 31 169,999 122,805 47,194 26,089 21,105 23, 314 21,115 88, 242 58,002 1,939 105, 296 165,237 12, 483 1,000 CITY OF ST. PAUL 1925 Dec. 31 98,295 61,858 36,437 28,230 8,207 18,354 11,619 120,452 57, 420 31,266 488 31,278 64, 926 7,832 1926 Apr. 12 100,043 67,212 32,831 25,586 7,245 15,513 12,132 117, 536 57,609 30,361 2,308 27, 258 64,990 97, 659 7,493 385 June 30 94,206 60,029 34,177 24,280 9,897 14,826 12,158 111,017 56, 601 28,431 1,365 24, 620 61, 868 91, 664 6,993 Dec. 31 102,718 36, 030 26, 235 9,795 15, 385 11,969 121, 227 56, 244 340 27,820 64, 111 101, 274 7,713 i Including rediscounts and overdrafts. J Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 9 MINNEAPOLIS 405 No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (829 1926 (817 1926 (804 1926 (764 banks) banks) banks) banks) RESOURCES Loans and discounts ._ 585,456 574, 719 567,123 553, 711 Overdrafts _ _ _ _ 661 653 640 485 United States Government securities 146, 536 147,845 142, 334 133, 351 Other bonds, stocks, and securities _ 160, 703 166, 629 170,465 174,451 Total loans and investments 893,356 889, 846 880,563 861,998 Customers' liability on account of acceptances 2,675 2,413 481 3,913 Banking house, furniture, and fixtures 24, 788 24,916 24, 836 24, 015 Other real estate owned. _ ... 15, 317 15,280 15,206 13, 403 Cash in vault.. _ 20,309 20,149 18, 596 19,325 Reserve with Federal reserve bank 52,192 53, 592 48,457 50, 606 Items with Federal reserve banks in process of collection... 9,611 7,758 7,630 8,527 Due from banks, bankers, and trust companies.. 127,243 104,869 101, 544 116, 230 Exchanges for clearing house and checks on other banks in same place. 12, 762 10, 581 10, 381 10, 665 Outside checks and other cash items _ 6,437 5,619 6,322 5,275 Redemption fund and due from United States Treasurer 1,470 1,453 1,443 1,403 United States securities borrowed L__ _ 53 51 177 133 Other securities borrowed l _ 14 Other assets _ _ _ 4,041 4,584 4,815 4,904 Total- 1,170,254 1,141,111 | 1,120,464 1,120. 397 LIABILITIES Capital stock paid in 66,846 66, 331 65,816 64,470 Surplus fund _ 35, 358 35, 292 34, 963 34,477 Undivided profits, less expenses and taxes paid 14,191 14,247 13,848 15, 678 Reserved for taxes, interest, etc., accrued..- 4,056 3,560 3,994 4,330 Due to Federal reserve banks. 1 98 Due to banks, bankers, and trust companies 131,041 114, 388 104,511 115, 936 Certified and cashiers' or treasurers' checks outstanding 12, 259 10, 339 11,169 9,943 Demand deposits _ _ _ 423,086 410,089 408, 627 396,073 Time deposits __ 437, 717 438,964 435,449 435, 897 United States deposits _ __ 7,429 9,499 6,009 4,667 Total deposits 1, Oil, 532 983,280 965, 765 962,614 Agreements to repurchase United States Government or other securities sold _. 43 Bills payable (including all obligations representing money borrowed, other than rediscounts) _. 1,764 2,409 1,998 2,585 Notes and bills rediscounted (including acceptances of other banks and foreign bills of exchange or drafts sold with indorsement) _ 2,875 3,261 3,228 2,692 Letters of credit and travelers' checks sold for cash and out- \ standing _ _. 37 44 68 21 Acceptances executed for customers _ 2,620 2,150 427 4,017 Acceptances executed by other banks for account of reporting banks _ 55 212 166 91 National-bank notes outstanding 28,850 28, 705 28,401 27, 682 United States securities borrowed. 219 167 177 133 Other securities borrowed _ 9 8 14 Other liabilities _ 1,842 1,402 1,599 1,607 Total . 1,170, 254 1,141, 111 1,120,464 1,120, 397 i Exclusive of securities borrowed by national banks, prior to June 30,1926. 38494—27 27 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

406 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having Banks in cities and towns having a population of— a population of— Date Total Total Less 5,000 15,000 100,000 Less ] 5,000 15,000 100,000 than to to and than ! to to and 5,000 14,999 99,999 over 5,000 14,999 99,999 over 1923 Apr. 25.... 416,133 111,061 78, 411 67, 430 159, 231 409, 345 193, 524 95, 602 56, 261 63,958 May 23... 410, 605 109, 441 77, 233 70, 640 153, 291 407,415 195,051 95,103 57, 339 59, 922 June 27.... 405, 877 109, 081 75, 906 74, 621 146, 269 410, 450 198, 656 94, 794 58, 702 July25_... 399,606 103,175 73, 930 72, 263 150, 238 414, 565 198, 824 95, 858 58,211 61, 672 Aug. 29... 394, 317 101,183 72, 781 70, 091 150, 262 416,914 197,288 97, 405 58, 346 63,875 Sept. 26... 407, 381 106,437 74, 882 69, 049 157, 013 412, 663 195,070 i 97,563 58, 274 61, 756 Oct. 24 411,478 109,858 76, 089 69,116 156,415 412,058 194,519 ! 98,127 58,704 60, 708 Nov. 28... 423, 314 110,143 76,430 73, 500 163, 241 411, 609 192,982 98,191 59, 275 61,161 Dec. 26... 407, 224 107, 589 73, 256 70,130 156,249 409,185 190, 073 97, 348 59,497 62, 267 1924 Jan. 23.... 400, 884 102,008 73,630 67, 005 158,241 409, 569 190, 410 97,231 58, 789 63,139 Feb. 27.... 403. 030 101,639 69, 682 68, 846 162, 863 403, 727 186, 830 96,147 57, 461 63, 289 Mar. 26... 413,952 103, 082 71,990 69, 460 169,420 400, 852 186,875 96, 212 56, 815 60, 950 Apr. 23.... 406, 431 101, 333 73,113 68,184 163, 801 399,043 185, 708 96,163 57, 744 59,428 May 28.... 397, 771 106, 986 69, 655 70, 317 150, 813 395, 669 183,805 94, 545 57, 791 59, 528 June 25.... 396, 739 102,010 73,113 71, 541 150, 075 398, 800 183, 843 95,447 58, 251 61,259 July 23.... 391, 789 99, 788 71, 399 71,537 149, 065 405,140 185,011 96,112 59, 479 64, 538 Aug. 27... 397, 066 99, 630 71, 441 69, 853 156,142 408, 794 185,968 96, 578 59,819 66, 429 Sept. 24... 424, 319 109,196 73, 704 71,212 170, 207 409,905 185. 573 96, 835 61,101 66, 396 Oct. 29.... 475, 674 121,961 78, 013 74,175 201, 525 416,047 185, 632 97, 549 62, 241 70, 625 Nov. 26... 503,546 123,578 81, 471 82, 756 215,741 420,176 185,911 99, 260 63,172 71,833 Dec. 24.... 493, 540 123,313 83, 307 76, 735 210,185 425, 748 187, 069 100,032 62, 801 75, 846 1925 Jan. 28.... 481, 231 118, 039 81, 300 204, 923 434,954 190, 429 102, 768 64, 383 77, 374 Feb. 25__._ 482, 015 118,165 83,043 76. 052 204, 755 436, 459 189, 260 103,424 66,129 77, 646 Mar. 25... 475, 267 118, 685 83, 564 77, 213 195, 805 441, 252 191, 571 104, 650 67, 226 77, 805 Apr. 22.... 451,891 114, 626 81,165 75, 561 180, 539 439, 950 191,005 104, 824 66, 715 77, 406 May 27.... 439, 619 112,252 79, 306 76, 926 171,135 435,891 189, 333 104,744 66, 745 75, 069 June 24 451, 240 113, 504 81, 649 77, 638 178, 449 434, 484 188, 376 104, 854 65, 716 75, 538 July 29.... 435, 645 108, 039 79,100 79, 404 169,102 431, 226 186,897 104,683 64, 803 74, 843 Aug. 26... 441, 593 110, 392 78,158 76, 679 176, 364 430, 029 186, 286 105, 208 65,240 73, 295 Sept. 23... 458, 587 116, 388 80,990 78, 610 182, 599 433, 357 185, 292 105,095 65, 667 77, 303 Oct. 28 455, 964 117, 624 81, 681 80, 639 176,020 435, 496 181, 949 105,362 65, 792 82, 393 Nov. 25... 466, 660 118, 451 84, 376 81,851 181,982 433, 519 180, 429 105, 952 66, 736 80,402 Dec. 23.... 117,283 83, 457 79, 905 185,401 434, 857 180,189 106, 333 67,141 81,194 1926 Jan. 27 452,173 112, 306 82,310 77, 065 180, 492j 441,449 180, 493 107, 607 68, 271 85,078 Feb. 24.... 457,021 112, 266 82, 913 77, 69? 184,150 440,772 179,525 108,365 68, 575 84, 307 Mar. 24... 452, 286 113,830 83, 215 77, 238 178, 003 439,126 j 179,975 108, 822 68,824 81, 505 Apr. 28.... 430. 343 110,105 80, 493 73,332 166, 413 436, 566 179,471 108, 203 68, 680 80, 212 May 26... 42< 962 109, 708 79, 372 73, 594 162, 288 433,102 177, 097 108, 383 68,822 78, 800 June 23_.__ 437, 644 110,035 81,523 80, 341 165, 745 434, 380 175,662 108,032 69, 312 81, 374 July 28-.„ 421,196 104, 977 79, 621 79, 382 157, 216 438, 926 174, 769 107, 652 69, 481 87, 024 Aug. 25... 409, 868 102.948 77, 759 74,179 154,982 439, 558 172, 463 107,855 69,744 89, 496 Sept. 22. __ 420, 655 105, 949 78,873 73, 618 162,215 436, 744 169,642 105.698 70, 246 91.158 Oct. 27 432, 988 109,870 80, 124 73, 934 169, 060 435,105 165,273 105,072 71,476 93, 284 Nov. 24... 440, 625 107, 683 82, 735 78, 585 171, 622 432,860 160,587 106, 065 71,897 94, 311. Dec. 29_... 424, 095 103, 755 79,833 75, 403 165,104 433,924 j 158,897 106, 759 72,441 95,827 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 9 MINNEAPOLIS 407 No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Loans and investments Government deposits Bor- Re- rowserves ings with from Date (Wednesday) Fed- Fed- Net Gov- eral eral Total de- Time ern- rerervereserve mand ment bank bank Weekly averages: 1922 302, 571 241,052 44,543 196,509 61,519 273,507 188, 902 78, 347 6,258 20,438! 3,342 1923__ _.. 325, 533 243,674! 51,7 ,974 81,859 292,067 203, 851 84, 577 3, 639| 22,363' 8,640 1924 327,942 242,0471 49,113 192, 934 85, 8951306, 385215,496 88, 341 2.548 23, 281 i 1,503 1925 355, 98? 247,643! 66,, 012 181, 631 |lO8, 340 340, 221233, :, 757 2, 0711 25,824| 1. 515 1926 354, 909 240,914 % 298 168, 616 113, 995 335, 888217, 431115i,,779 2,678! 24, 3711 3, 949 1926 Jan. 362, 66' 247, 968 72,180175,788114, 699 345, 863230, 316 112, 482 3, 065| 26, 993! 3,400 363, 63: 249, 591 73,826|l75,765 114;041 346, 620 230, 779 112, 776 3, 065| 25, 368| 1,550 20_ 365, 672 251. 628 75,292 176,333366 1"1 4',044 347,805 231,647 113,093 3, 065^ 26,206! 1,800 27 _ 362, 628 249, 236 74, 695 174, 541113,392 364,55" 228,156 133, 336 3, 065| 25, 453| 1,290 Feb. 3 361,989 248, 416 73, 955! 174, 461113,573 341,530|225,396113,069 3,0651 22. 982! 1,400 10 365,754 251,.-— 73,516178,352113,886 341,314J225,042jll3,207 3,065; 23, 885! 4,005 17 1364,2251250, 573 72,067178,506113, 652345, 04";228, 848U13,134 3,065i 27, 288, 4,450 24 365,358|252,104 73,142178,962113,254 346^620!230,445113,110 3,065| 27, 995! 3,500 Mar. 3 369,441 '255, 74.063 181, 634 113, 752!344, 369i 229, 333 111, 9711 3, 065! 26, 573| 8,185 10 362,78' 252,163 72, 8931179. 270 110, 6241343, 619!228,184112, 37f 3, 065 23,591 1,500 17 363,933|248, 614 68, 219J180, 395 115, 319J343, 456 225,183 111,737! 6. 536^ 24, 590! 4,360 24 359,104|242. 369 67. 520 174, 849)116, 7351341, 510225, 3393 110,975! 5,142| 25. 970| 1,685 31 |356,1421238; 996 71, 965 167, 031 117,1461339, 567 219,0010113,773! 6, 784; 2'J, 534! 4, 243 Apr. 7 |352,44C 237,819 65,066 2. 753 114, 6211334, 314 218, 9201110, 252; 5,142! 25, 398; 2, 89* 14 '353,075 237,966 66, 00£92 171,874|115,109J335, 7761220,918109,717! 5,141! 25, 652! 2.283; 21 347,976|234,318 64, 33f65 169, 953J113, 658 328, 9881214, 933 109, 836 4, 219' 24, 925 3,737 28 349,733'235, 7131 64,88:18170,8951114,020 327,335|213, 434|109, 682 4, 219; 20, 479 3,706 May 5_ 346, 9951232, 570 63,6011168,969114,425 326,252|213, 919 108, 294 4, 039' 23.171 4,127 12. 345, 029'228,991. 64,1611164.830J116,038J325, 589!213,1701108, 576 3, 843! 22, 905 3,680 340, 1224, 607 65, 439 159;1681115, 6791328,661[216, 636 108,182! 3, 843 24, S02 4, 545 26 _ 339, 4611223, 509 65, 834j 15; 6751115, 952 319, 4501208, 529 107, 822 3,099; 20, 658 2,091 June 342, 73' 1226, 454 67, 6671158,7871116, 283 330, 31 219,313 107,902 3,099 23. 28(3 1,311 9 346, 421|229, 474 68, 047 i 161,427 116,947 330,677 220,105)107, 4731 3,099 23, 614 2, 445 16 347, 98; ^232, 361 69,0361163,325 115,626336. 482 223, 398(109, 985 3,099. 23.572 65Q< 23 347, 754j232, 071 71,0011161,0701115,683 331,186 217, 474i 110, 613 3, 099 22, 453 160. 30 349, 918'234, 591 70,0671164,524115,3271334,124 221, 238 110, 090 2, 796 21, 570 240; July 7 346. 286232, 725 70,561(162,164113,56l|332, ,213,389116,306 2, 660 25, 084 2, 570 14 347; 75. 232,870 80, 250! 152,620 114,8851329, 209, 830 116, 998 j 2, 680 21, 3221 2, 280 21 347, 066231, 786 77.2351154,551 115,280 ] 327, !2O6,995|117,953| 2, 660 23, 680! 3, 885 28 345, 972230, 677 78,3851152.292115,295J326, ;207, 227ill6, 407] 2, 660; 23, 4091 5, 682 I Aug. 4 345, 091229, 698 78,118 151,580 115,393 324, 205, 439 116, 288 2,660 25,072: 6,137 11 347,301232,139; 77,420154,719J115,165 326, 207,616 116,608 2,133 20, 637! 5,138 18 346, 690231, 343! 76, 8641154,479(115,347 322,750 201,969 115,866 1,915 22,025! 7, 992 25 348, 429232,188| 78,054il54,134 116,241 321,Sis 202,119 117,739 1, 455| 21,213; 9,162 Sept. 1. 352, 630236, 660 232159,428115,970 324,862 204, 868 118, 542 1,452 23,697| 12,009 351, 584236, 6551 430:160, 225 114,929 327, 503 207,124 118,927 1,452: 24,982| 10,377 15. 352,179236, 772; 352J161, 420 115, 407 331, 511209, 779 119, 263 2, 469 22,762! 5,045 22. 347,714238, 799| 440 162,3591108,915 331, 519 209, 588 119, 462 2,469! 26,207; 3,489- 29 _ 350, 980242, 796: 610 167,186 108,184 328, 582 205, 622 120,491 2, 469; 20, 517 2, 670 I i I I i Oct. 2 2 1 7 0 3 6 . . . . . . 3 3 3 3 5 6 5 5 2 4 6 4 , , , , 9 8 0 4 3 1 4 6 3 9 5 3 2 2 2 2 4 4 4 4 9 9 7 6 , , , ,0 8 7 5 7 4 4 1 7 8 8 9 ! | 9 0 7 7 1 5 4 3 9 5 9 5 ! ! < 1 1 1 1 7 7 7 7 5 1 2 6 , , , , 0 0 8 7 9 6 5 1 9 4 8 3 ! ! i 1 l 1 1 0 0 0 1 6 7 6 4 , , , , 1 9 1 7 8 4 7 6 5 1 1 8 3 3 3 3 3 3 3 4 2 4 2 0 , , , , 7 1 1 5 2 3 9 3 9 8 6 12 2 2 21 0 1 0 0 9 6 8 , , , , 3 7 5 7 5 3 9 3 1 4 4 0 1 1 1 1 2 2 2 2 2 1 2 2 , , , , 1 5 2 2 3 4 6 0 9 9 4 3 2 1 , , 9 9 4 1 7 1 6 3 3 3 9 5 i ! ! 1 2 2 2 24 5 6 3 , , . ,36 6 5 0 9 7 5 7 5 4 0 1 ! ! ; 9 8 4 6 , , , , 0 6 2 6 0 2 2 0 3 6 6 5 | Nov. 3. 18,314 253, 583 72, 607| 180,976 114, 73l!348,326 226,330121,083 913: 24,378! 7,135 10. 370,119 254,511! 73, 5651180.946J115, 608347,308 223, 826 122, 825 6571 27, 942! 6,460 17. 365,558 250,488! 75, 0141175, 474! 115, 070:347, 548224, 029 123,038 481i 25, 834! 5,950 24. 360,272! 243,987 73,8791170', 108J116, 285:345,940 222, 013 123, 446 481! 24, 804 j 1,600 • I I Dec. I.. 361,167! 246,856 75,055! 171,80l! 114,311349,261 223,187125,593 481! 27, 2181 950 8.. 359, 070, 244, 763 72,130 172,633j 114,307i345,801 219,450 125, 870 481| 26, 110! 700 15. 361, 143| 250, 441 72, 322; 178,119! 110, 702!347,999220, 657 126, 473 863| 27, 526) 700 22. 359, 057j 247, 289 73,153 174,136!lll, 768 341,188 213,379 126,859 950i 25, 0361 2, 050 29 _ 359,417 247,587 75,022172, 565! Ill, 8301337,661 213,860122,851 950 25, 225! 1,682 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS O 00 [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Net demand, time, and Government Loans and investments deposits Month Reserves Borrowwith ings from Loans Federal Federal reserve reserve Total On secu- I m n e v n e t s s t- Total N m et a n d d e- Time G m ov e e n r t n- bank bank Total rities All other 1922 January—. 295, G21 251,129 42, 368 208. 761 44,492 259,455 176,640 76,814 6,001 18, 512 7,511 February. 296,868 243, 341 42, 746 200, 595 53, 527 264, 925 176,119 76, 338 12,468 19,965 4,263 March 292, 560 238,972 39,840 199,132 53,588 262,251 179,845 74,413 7,993 19,409 2,711 April 292. 646 235, 787 39, 547 196, 240 56, 859 264,213 180, 551 77, 200 6,462 19,982 2,327 May 292, 935 234,717 39, 517 195,200 58,218 263, 525 181,035 76, 782 5.708 19.182 3,104 June 301, 798 237,198 42, 864 194,334 04, 600 272,719 188,149 77,517 7,053 19,953 2,354 July 298, 561 233,594 42,101 191,493 04,967 270. 928 189, 820 77, 369 3, 739 20,150 2,107 August- 299, 030 232, 581 43, 863 188, 718 66,449 270,908 188, 508 75, 953 6,447 19,530 2,858 September. 311,128 244,474 46, 988 197, 486 66, 654 283, 912 197, 922 80,178 5,812 21,882 2,864 October 310, 587 243,414 49, 259 194,155 67,173 285, 005 197, 230 82, 707 5,068 21,409 2,879 November. 319,184 250, 715 52,692 198, 023 68,469 290,185 204, 683 81, 906 3,596 22,654 3,621 December— 321, 575 248, 502 53,282 195, 220 73,073 295,835 206, 703 84, 065 5, 067 22,874 3,772 1923 January.... 329, 454 249, 380 53, 597 195, 783 80, 074 305, 570 214, 861 85, 651 5, 058 23, 565 3,047 February- 329,636 245, 554 54,572 190, 982 84,082 300, 946 213,108 84, 468 3,370 23, 692 2,706 March 332, 752 249, 407 56, 361 193, 046 83, 345 302,165 214,576 83, 269 4,320 25,272 4,618 April 332,421 250,438 59, 376 191,062 81,983 299,071 209, 706 84, 456 4,909 23,497 7,095 May 323, 568 242, 776 60, 852 181, 924 80, 792 288, 525 199, 650 84,492 4,383 22,062 10, 502 June 323,838 239,691 62, 551 177,140 84,147 288, 001 199,841 83, 879 4,281 20,147 9,665 J A u u ly gust- 3 3 1 1 8 3 , , 0 8 5 4 0 0 2 2 3 3 2 4, , 8 1 0 3 2 0 4 5 6 0 , , 4 0 8 4 1 7 1 1 8 8 4 6 , , 3 0 2 8 1 3 8 81 3 , , 2 7 4 1 8 0 2 28 8 1 5 , , 6 5 6 6 3 3 1 19 9 1 6 , , 3 6 6 0 3 7 8 8 5 6 , , 8 1 1 7 1 7 4 3 , , 0 2 2 4 3 5 2 2 1 1 , , 9 0 7 2 1 9 1 1 1 0 , , 6 7 9 1 4 9 September. 323,560 241,171 45, 747 195, 424 82, 389 287,104 197, 980 85, 203 3,921 20, 739 10, 998 October 326, 853 245,160 43,451 201, 709 81, 693 286, 726 200, 320 83,207 3,199 21,492 13,872 November. 329, 704 250,890 43, 207 207, 683 78,814 293,048 208, 619 83,313 1,116 23,513 9,746 December.. 324,828 244,002 44,870 199,132 80,826 287,866 201, 827 84, 532 1,507 21,466 8,123 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January 314,296 233, 265 46,140 187,125 81, 031 284, 276 197, 813 84,829 1,634 21,439 4,109 February... 314, 821 234, 370 47, 709 186, 661 80, 451 286, 724 201,199 84,161 1,364 21,155 2,121 March 324,912 243,144 47, 500 195, 644 81, 768 298, 345 211, 059 83, 790 3,496 23,174 2,144 April 321, 669 239, 780 47, 707 192, 073 81, 889 293, 884 205,169 83,048 5,667 22,673 2,190 May 305,476 226, 092 39, 360 186, 732 79, 384 279, 091 192, 394 82,827 3,870 21,078 3,024 June 304,825 226, 436 39, 908 186, 528 78, 389 283, 685 197, 218 84,113 2,354 20,973 1, 660 J A u u ly gust 3 3 0 0 3 6 , , 7 8 8 4 7 8 2 2 2 2 3 5 , , 1 9 1 7 6 7 4 49 4 , , 8 4 0 5 6 0 1 1 7 7 9 5 , , 3 5 1 2 0 7 8 79 1 , , 6 8 7 7 1 1 2 2 8 8 4 7 , , 6 2 3 5 9 2 1 19 9 4 5 , , 8 6 3 7 5 8 8 8 7 9 , , 1 60 8 1 6 2 2 , , 3 2 8 0 8 3 2 2 0 2 , , 0 2 4 2 9 0 1, 5 33 49 3 September. 321,313 239, 084 51,760 187, 324 82, 229 302, 757 210, 048 90,482 2,227 22, 259 382 October 350, 122 259, 728 54, 332 205, 396 90, 394 333, 867 240, 027 91, 662 2,178 26, 586 325 November. 375, 726 272,711 57, 785 214,926 103, 015 366, 981 269,177 96,417 1,387 29, 634 81 December__ 383,157 275, 377 60, 904 214, 473 107, 780 367, 221 265, 025 100, 572 1,624 27,599 10 1925 January 375, 999 269, 722 57, 257 212, 465 106, 277 360, 990 256, 385 102, 720 1, 885 28,141 159 February.. 372, 055 266, 844 60, 619 206, 225 105,211 355, 729 249, 005 105,059 1, 665 27,440 400 March 372,683 264,812 62,878 201, 934 107, 871 359, 095 249,284 106, 966 2,845 28,713 361 April 354,042 246, 594 63,136 183, 458 107,448 337, 007 228,465 105, 235 3,307 25,491 1,368 May 336,801 231, 449 58, 042 173, 407 105, 352 318, 843 213,492 103,373 1,978 23,665 1,566 June 348, 790 241, 522 69, 144 ] 72, 378 107, 268 333, 384 228, 938 102, 707 1,739 25, 074 425 July 339, 111 229, 952 69, 470 160, 482 109,159 326, 440 223,454 101,528 1,458 24,191 1,050 August 340,487 230, 751 70, 052 109, 736 323, 558 222,813 99, 741 1,004 24,802 3,617 September. 354, 380 245, 648 69, 615 176,033 108, 732 339,164 233,731 103, 361 2,072 25, 621 2,746 October 355, 935 247, 248 67, 079 180,169 108, 687 339, 797 228,676 109,115 2,006 25,936 2,152 November. 360, 432 251, 299 70,100 181,199 109,133 344, 715 235,060 108, 590 1; 065 25,827 2,261 December- 364,140 250, 366 72,159 178, 207 113, 774 346,803 234,716 108,731 3, 356 25, 589 1,841 January 363, 650 249, 606 73, 998 175, 608 114,044 346,212 230,225 112,922 3, 065 26,005 2,010 February.. 364,331 250, 740 73,170 177, 570 113, 591 343,628 227,433 113,130 3,065 25, 538 3,339 A M p a r r i c l h 3 3 6 5 2 0 , , 8 2 0 8 5 2 2 24 3 7 6 , , 4 5 5 6 3 7 6 65 9 , , 4 0 8 8 8 5 1 1 7 7 1 8 , , 0 3 7 6 9 8 1 11 1 4 4 , , 3 7 5 1 2 5 3 34 3 2 1 , , 6 5 0 0 2 3 2 2 2 1 5 7 , , 0 4 5 2 1 0 1 10 1 9 2 , , 8 1 7 6 1 5 4 4 , , 9 6 1 8 8 0 2 24 4 , , 1 8 1 5 4 2 3 3 , ,1 9 5 9 5 5 May 342,944 227,420 64, 759 162, 661 115, 524 324, 987 213,062 108,219 3,706 22,884 3,611 June 346, 963 230,990 69,163 161, 827 115,973 332, 557 220, 306 109, 213 3,038 22, 899 961 July 346, 770 232, 015 76, 608 155,407 114, 755 328, 936 209,360 116,916 2,660 23,374 3,604 August 346, 879 231, 342 77, 614 153, 728 115,537 323, 702 205, 036 116, 625 2,041 22, 237 7,107 September. 351, 018 238, 337 76, 213 162,124 112, 681 328, 795 207, 396 119,337 2,062 23, 633 6,718 October 357.064 248, 298 74,365 173,933 108, 766 334,899 211,352 122,039 1,508 24,922 7,115 November. 366.065 250, 642 73, 766 176, 876 115,423 347, 281 224,050 122, 598 633 25, 740 5,286 December— 359, 971 247,387 73, 536 173,851 112, 584 344,382 218,107 125, 529 746 26, 223 1,216 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN MINNEAPOLIS—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Reserves Borrow- Date (Wednesday) Loans F re e w s d e i e r t r h v a e l in F r g e e s s d e e f r r r v o a e m l D ba u n e k t s o b f D a ro n u m k e s Total Total O r n i t s ie e s cu- All other I m nv e e n s t t s - Total de N m e a t nd G m ov e e n r t n- bank bank 1926 Jan. 6. 177, 829 131,309 36, 519 94,790 46, 520 167,370 118,182 46, 710 2,478 14, 521 3,225 60,848 19,440 2 2 1 7 0 3 . . . 1 1 1 7 7 7 4 7 6 , , , 4 5 5 7 9 9 5 9 9 1 1 1 2 2 3 8 9 1 , , , 8 0 6 5 2 0 8 9 1 3 3 3 6 6 6 , , , 1 5 3 3 4 0 2 3 5 9 9 92 4 3 , , , 4 5 5 6 2 1 9 4 5 4 4 4 6 6 5 , , , 9 5 6 9 7 1 8 0 7 1 1 1 6 6 6 5 4 7 , , , 0 8 8 0 3 2 3 6 2 1 1 1 1 1 1 4 8 6 , , , 5 5 2 2 4 7 1 6 0 4 4 4 7 7 6 , , , 0 0 8 7 1 0 4 2 4 2 2 2 , , , 4 4 4 7 7 7 8 8 8 1 1 1 3 2 3 , , , 8 5 0 8 5 7 4 1 6 1,5 8 7 5 0 9 0 0 0 5 5 5 9 8 5 , , , 3 7 3 2 8 5 4 6 5 2 1 1 3 8 8 , , , 4 8 5 3 8 0 2 4 5 Feb. 3 176, 523 129,960 36,381 93, 579 46, 563 163,967 114,880 46,609 2,478 11,403 900 56, 761 18,770 10 179,312 130,647 36, 436 94,211 48,665 162,984 113,785 46, 721 2,478 11, 669 4,005 56,923 22,641 17 177,485 127, 692 34, 699 92, 993 49, 793 164,949 116,151 46,320 2,478 14, 590 4,450 54, 692 16, 750 24 177.552 128,062 35, 771 92, 291 49, 490 165,633 116,618 46, 537 2,478 14,822 3, 500 54, 635 17,823 Mar. 3. 180,535 131,067 36, 392 94, 675 49,468 164,175 114,263 47,434 2,478 13, 700 6,085 56,337 21,409 10. 176,624 129,483 35, 567 93,916 47,141 166,047 116,077 47,492 2,478 11,601 500 54,998 20,203 17. 176,036 125,718 31,674 94,044 50,318 163,258 111,429 48,697 3,132 12,978 4,160 56,977 23,151 24. 172, 149 121,624 30,992 90, 632 50, 525 162,409 111,836 48,133 2,440 13,353 1,685 53, 581 17,221 31- 168, 190 117,972 28, 278 89,694 50,218 160,086 109, 788 47,858 2,440 11, 688 2,275 52, 267 20,896 Apr. 7- 167,482 117,220 28, 694 88, 526 50,262 157,311 107,515 47,356 2,440 13,118 2,480 42,944 21,422 14. 167,439 116, 697 29, 737 86, 960 50,742 158,113 108,346 47,327 2,440 13,394 1,900 50,176 21,247 21. 164,630 114,371 28,306 86,065 50,259 155,266 105,835 47,432 1,999 12, 640 1,725 47, 667 19, 791 28. 164, 586 114,435 29,408 85,027 50,151 152,887 103,368 47, 520 1,999 8,702 2,055 48, 535 24,857 May 5. 165,928 114,770 29, 519 85,251 51, 158 156,161 107,039 47, 204 1,918 11,333 1,676 50,347 21,077 12. 164, 502 • 112,931 29,695 83, 236 51, 571 155. 262 106,126 47,319 1,817 11,223 1,746 56, 505 24,477 19. 162, 158 110,777 30,647 80,130 51,381 160,293 111,514 46,962 1,817 13,257 3,146 47, 566 19,823 26. 162,395 110,473 30, 861 79, 612 51, 922 150, 871 102,695 46, 678 1,498 9,909 1,774 47,092 20,940 June 2. 163,173 111, 597 31, 637 79,960 51, 576 154,004 105, 669 46.837 1,498 12,402 1,156 52,394 21,677 9. 166,478 113,914 32,111 81,803 52, 564 153,812 105, 735 46, 579 1,498 11,332 2,291 49, 814 20,885 16. 165, 537 113,951 32,158 81, 793 51, 586 158,047 107,711 48.838 1,498 12,406 47, 527 24,964 23. 165, 695 114,803 32,895 81,908 50,892 156, 587 105,867 49, 222 1,498 10,745 46, 640 21,100 30. 168, 852 118,351 32, 886 85,465 50, 501 159,607 108,900 49,399 1,308 9,932 80 46, 692 19,476 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7. 163,387 113,984 32,477 81, 507 49,403 154,922 101, 563 52,117 1,242 12,957 2,570 49, 725 22,901 14. 163, 529 113,053 32,983 80,070 50,476 151, 924 98,039 52, 643 1,242 9,391 2,120 46,929 27,050 21. 162, 557 111,814 30,301 81, 513 50,743 152,622 98,122 53, 258 1,242 12, 658 3,330 46,145 21, 229 28. 164, 261 113, 675 31,039 82, 636 50,586 150,833 96,433 53,158 1,242 11,402 5,630 44,134 19,053 Aug. 4. 164,193 113,345 31, 268 82,077 50,848 152, 975 98,408 53,325 1,242 13,826 4,585 46,069 19.898 11. 166,054 115,337 31,494 83, 843 50,717 152, 753 98,377 53,382 994 9,414 4,115 44,116 21,187 18. 166,411 115,630 31,483 84,147 50,781 150,053 95,822 53, 534 897 10,397 6,805 40,725 18,711 25. 168,923 117,638 33,338 84,300 51,285 149,639 95,815 53,148 676 9,360 7,930 41, 541 17,210 Sept. 1. 171,090 120,101 33,504 86, 597 50,989 152, 572 99,133 52, 764 675 12,020 10,927 44,398 19,428 8. 170,366 120,133 32,954 87,179 50,233 153,351 99, 667 53,009 675 13,448 9,805 47,145 19, 564 15. 170,910 119,730 32,824 86,906 51,180 157,093 102,203 53, 620 1,270 12,273 4,981 45,481 23,890 22 168, 517 123,490 33, 774 89, 716 45,027 157, 528 102,382 53,876 1,270 14,360 2,929 45,263 17,112 29. 170,323 125,025 33,124 91,901 45,298 155,377 100,568 53,539 1,270 10,095 2,649 45,849 21,324 u Oct. 1 6 3. . 1 1 7 7 1 3 , , 5 0 3 1 6 4 1 1 2 2 7 8 , , 8 7 7 2 0 9 3 33 3 , , 5 3 8 1 6 7 9 9 4 5 , , 4 2 1 8 2 4 4 4 3 4, , 1 8 4 0 4 7 1 1 5 5 8 8 , , 0 4 2 5 5 2 1 1 0 0 3 4 , , 9 5 3 9 5 6 5 5 3 2 , , 1 7 5 4 9 8 1, 7 2 6 7 9 0 1 1 1 4 . , 8 4 4 4 4 8 4 6 , , 0 6 0 0 3 6 5 49 0 , , 8 2 8 5 9 5 2 2 2 1 , , 6 6 4 3 2 6 M Ul 20 172,911 128, 617 31, 662 96,955 44,294 156, 217 102, 695 52,987 535 13,349 7,926 50,603 23, 514 27. 178,041 126, 732 30, 772 95,960 51,309 160,705 107, 557 52, 613 535 11, 532 7,225 50, 707 21,264 ii o Nov. 3. 179,192 128, 730 29,891 98, 839 50,462 162,921 109, 682 52, 704 535 11,668 6,535 57, 595 24,879 10 178,112 128,142 31, 672 96,470 49,970 165, 709 112, 257 53,068 384 15,125 5,460 53, 750 19, 549 17. 174, 532 124, 631 30,665 93,966 49, 901 162,074 108, 594 53, 214 266 13,356 5,450 51,229 26,847 24. 174,124 124, 210 29,936 94,274 49,914 164,362 110,594 53,502 266 12,237 1,600 48, 217 19.899 Dec. 1 171,517 123,483 30,102 93, 381 48,034 164, 621 109,236 55,119 266 15,045 950 49, 878 19, 686 8. 168,926 120,699 28, 345 92, 354 48, 227 160,095 104, 599 55, 230 266 13,165 700 48, 261 20,064 15. 168,485 122,037 28,260 93,777 46,448 160,616 104,699 55,360 557 14,231 700 51,872 24,473 22 168,345 121, 652 29,142 92, 510 46, 693 158,491 102,304 55, 630 557 12, 788 1,050 51,909 26, 721 29. 170,177 124,230 31,819 92,411 45, 947 156,476 103,771 52,148 557 13,162 1,682 51,933 20,253 3 GO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

412 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note, see p. 181] Total for 9 centers i Aberdeen, S. Dak. Billings, Mont. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 685, 686 731,307 565,332 6,734 6,616 5,455 6,441 7,438 6,890 February... 599,145 637,553 523,317 5,461 5,026 4,535 5,847 5,939 6,798 March 694, 637 748,603 584, 754 7,113 6,992 5,005 6,893 6,784 5,434 April 668, 254 697, 614 552,910 6,589 5,915 5,242 7,793 7,085 5,674 May 663.191 694,973 596,115 6,530 6,202 5,361 6,554 7,097 6,385 June 670,147 762, 780 613,515 7,381 6,505 5,223 7,210 7,128 July 691, 894 706, 012 634, 515 7,160 6,946 5,873 7,721 7,250 6,565 August 654.192 701, 678 596, 031 6,285 7, 559 6,068 6,584 6,841 6,308 September- 729, 468 848,355 773, 680 6,224 7,940 7,551 8,463 7,840 7,427 October 783,082 877,313 1,059, 292 7,111 8,751 8,102 12,187 10, 937 10,352 November.. 712, 588 783, 325 891,171 7,020 7,399 6,908 10,448 7,974 8,732 December.. 748, 641 849, 658 849,622 7,225 8,506 7,195 8,988 8,837 8,497 Total.... 8,300,925 ,9,039,171 8,240,254 80,833 84,357 72, 518 95, 129 ! 91,150 85,950 Dickinson, N. Dak.* Duluth, Minn. Fargo, N. Dak. Month 1926 1925 1926 1925 1924 1926 1925 1924 January 1,730 1,684 1,285 71, 423 79, 918 52, 947 13, 553 11,368 10, 726 February 1,300 1,311 1,103 58, 490 70,155 54, 051 13,159 10,238 9,387 March 1,544 1,459 1,161 71,911 86, 455 57,842 16.991 13,453 11,237 April 1, 503 1,547 1,161 66,107 85, 016 54,692 16,419 13, 780 11, 755 May _ 1,510 1,416 1,172 90, 554 101,071 65,228 14,350 11, 624 10,876 June 1,455 1,412 1,036 81,251 128,850 82,304 14,022 13, 591 10, 400 July.. 1,667 1,432 1,457 71,938 101,541 85, 733 18,008 15, 445 10, 656 August. 1,257 1, 503 1,170 64, 740 93,937 78, 706 13,381 15,435 10, 727 September 1,592 1,757 1. 463 96, 732 150, 885 142,975 14,888 15,966 1?, 148 October 1,904 2,506 2,350 112,978 136,968 259,097 18, 621 19,062 14,951 November 1,677 2,243 2,585 92, 216 129,281 208, 521 16,447 16, 241 13, 575 December 1,860 2,249 2,223 75, 850 112,858 128, 354 16,399 16,334 12,872 Total _ 18,999 i 20, 519 18,166 954,160 11, 276, 935 1,270, 450 186, 238 172,537 139,310 Grand Forks, N. Dak. Helena, Mont. Jamestown, N. Dak.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 8,731 8,011 5,861 8,673 10, 319 8,891 2,303 2,275 1,886 February... 7,326 6,443 5.681 7,236 7, 625 8,731 2,071 1,836 1,830 March 8,660 6,965 6,007 8,990 7,407 8,807 2,412 1,907 1,700 April 8,728 7,203 5,648 8,234 7,831 8,149 2,482 2,037 2,408 May 7,650 6.368 5,437 7,574 8, 865 8,261 2,444 2,143 1,846 June 7,581 6' 740 5,746 8,576 8,371 8, 650 2,477 2,365 1,746 July 8,931 7.894 5,730 10, 440 10, 626 10,213 2, 595 2,422 2,010 August 7,841 6.922 5,523 8,803 9,400 9,216 2,258 2,350 1,841 September. 10, 688 10. 795 7,845 9,940 11,050 10,496 I 2,464 2,547 2,020 October 12, 235 11, 896 10,451 10, 928 12, 091 11,882 3,062 3,158 2,786 November. 10, 504 11.519 10,425 9,564 9,309 10,323 ! 2,602 2,881 2,319 December.. 8,839 10. 248 9,460 9,358 10. 694 10,485 | 2,552 3,082 2,581 Total. 107, 714 101,004 83,814 108,316 | 113,588 114,104 | 29,722 29,003 24,973 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

413 DISTKICT NO. 9—MINNEAPOLIS No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] La Crosse, Wis.* Minneapolis, Minn. Minot, N. Dak.* Month 1926 1925 1924 1926 1925 1926 1925 1924 January 11,040 11, 894 10,194 390,915 424,513 306,897 5,284 5,257 3,483 February... 9,947 9,075 9,163 336, 747 378, 832 280, 623 5,076 4,077 3,450 March 11,373 10,772 10,403 388, 853 433,895 315, 675 5,901 5,115 3,859 April 10, 757 10,499 9,743 375,179 397,452 296,209 6,760 5,396 4,046 May _. 10,947 10,084 9,891 366,476 388, 658 319, 349 6,218 5,696 4,110 June 11,445 10,761 | 9,716 372,999 409,530 317,005 6,190 5,915 4,088 July 12,671 11,675 I 10, 622 395,140 373,014 336,788 7,107 5,448 4,495 August 11,590 10,228 9,576 386, 878 391,414 322,496 6,073 4,707 September.. 12,867 10,042 9,941 420,793 474, 560 424,818 7,102 7,530 5,863 October 13,042 11,257 10,434 428,156 487,463 552,809 8,555 8,577 8,905 November.. 12,000 9,963 9,043 397, 573 427,730 467,080 7,115 6,994 7,196 December.. 11,927 10,806 10,382 424, 266 482,306 468, 262 6,174 6,967 6,314 Total ! 139,606 127,056 I 119,108 4,683,975 5,069,367 4,408,011 77, 881 73,045 60, 516 Red Wing, Minn.* St. Paul, Minn. Sioux Falls, S. Dak.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January. 2,886 2,510 2,072 171.497 175, 725 159,878 17, 574 15,076 14,932 February 2,306 2,067 1,861 157, 613 146,635 146,131 16,020 12,042 10,104 March 2,691 2,360 2,091 177,050 179,403 167,406 19,010 15,803 12, 267 April 2,724 2,464 2,081 171,161 165, 653 157, 786 18,805 15,808 12, 285 May 2,655 2,632 2,339 155,183 157,431 167, 668 18,889 16,807 12, 653 June _._ 2,773 2,727 2,350 162,607 174,411 169, 501 19,758 17,635 12,677 July 2,638 2,522 2,322 164, 564 175, 373 165,646 23,016 18, 372 15,463 August 2,610 2,468 2,010 152,028 161,914 149,630 18, 379 16, 778 13,823 September.. 2,805 2,568 2,316 152, 329 161, 397 153,035 18, 066 18,146 13,166 October... 3,070 2,885 2,861 172,235 181,876 181,950 19,856 19, 386 16,476 November 2,912 2,619 2,661 161,100 166, 211 158,450 18,910 17, 261 13, 744 December 2,825 3,000 2,660 189.498 191, 298 196,810 20, 793 18, 958 13,895 Total 32,895 30, 822 27, 624 1,986,865 2,037,327 il, 973,891 229,076 202,072 161,485 South St. Paul, Minn.* Superior, Wis. Winona, Minn.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January... 46,716 40, 774 30, 084 7,719 7,399 7,787 5,507 5,179 4, 725 February.. 34,513 30, 742 24, 337 7,266 6,660 7,380 4,239 4,430 4,006 March 38, 292 36, 761 25, 317 8,176 7,249 7,341 5,023 4,762 4,431 April _ 32, 767 33, 758 24,434 8,044 7,679 7,755 4,850 4,719 4,157 May 36,169 32, 261 25,130 8,320 7,657 7,550 5,145 5,124 4,723 June. 39, 575 31, 630 21, 684 8,520 7,654 7,798 5,320 4,881 4,515 July.. 40, 357 33, 342 23, 766 7,992 7,923 7,311 6,019 5,641 4,370 August 29, 840 30, 777 20,449 7,652 8,256 7,357 5,372 4,716 4,085 September. 37, 323 29,087 21, 748 9,411 7,922 7,385 5,029 4,949 4,825 October 50, 671 47, 846 31,913 8,631 8,269 9,698 5,745 5,268 4,981 November. 54, 612 44, 472 33, 312 7,716 7, 661 7,157 5,503 5,921 5,145 December. 47,822 47, 993 39,896 8,218 8,577 7,687 5,520 5,432 6,901 Total 488, 657 439, 443 322,070 97, 665 92, 906 92, 206 | 63, 27261,022 56,864 38494—27 28 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

414 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES J IN MINNEAPOLIS AND HELENA IRates prevailing during week ending with 15th of month] MINNEAPOLIS Loans secured by Month m l P o c e r a o r i n m m c s i - a e 2 l I l b n o a t a n e n k r s - c p h r a i n m g e e s c t o o l c l k a t e e x ra - l b r s y e L h e c c o o w e u u a i r a s n p e e r s t d e s - C lo a a t n tl s e Demand Time 1926 January.. 4*4-5^ 5 -534 43/4-5M 434-534 February 4%5 5 -5" 434-5^ 434M March 5 -5 434-534 April _ 5 -hVt 434 May 5 -5M 434-5H June 5 -VA 434-5H J A u u ly gust 434-5 5 - 4 4 3 3 4 4 - - 5 5 4^-5 September 434-5 5 - 5 434-5 October 5 -5V 5 -5: 434-5 November ... 5 -hV 5 -6 434-5i _ 434-5 December 4M 5 -6 434-5H 434-5H HELENA 1926 January 8 6 -8 6 -8 February 8 6 -7 8 March _ 8 8 8 8 April _ ._ 8 6 -7 6 -8 May _ 8 6 -8 6 -8 June __ 8 7 -8 8 8 7 -8 July.. 6 -8 36 6 -8 6 -8 6 -8 7 -8 August _ 6 -8 36 6 -8 6 -8 6 -8 7 -8 September 6 -8 3 Q 6 -8 6 -8 6 -8 7 -8 October _ _. 6 -8 36 6 -8 6 -8 6 -8 7 -8 November 8 6 -8 8 8 6 -8 6 -8 December 8 6 -8 8 8 6 -8 6 -8 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90-day loans; beginning with that month the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. 3 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 10—KANSAS CITY No. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 64,860 54,571 63,475 41,920 Gold redemption fund with United States Treasury _ 2,125 3,377 2,626 3,390 Gold held exclusively against Federal reserve notes. 66,985 57,948 66,101 45,310 Gold settlement fund w^ith Federal Reserve Board 30 512 32,729 40 920 47 054 Gold and gold certificates held by bank __. 6,239 3,643 2,898 3,142 Total gold reserves 103, 736 94,320 109, 919 95, 506 Reserves other than gold- 4,993 4,475 3,964 3,241 Total reserves . 108,729 98,795 113, 883 98,747 Nonreserve cash.. _ 2,822 2,981 2,722 3,044 Bills discounted: • Secured by United States Government obligations..- 1,484 4,016 727 11, 203 Othej bills discounted—- 5,128 11,563 4,249 30. 664 Total bills discounted-. 6,612 15, 579 4,976 41, 867 Bills bought in open market 18,295 17,006 15,661 545 United States Government securities: Bonds 8,842 8,387 8,911 6,332 Treasury notes 4,140 18,416 18,182 7,572 Certificates of indebtedness 16, 243 10,657 6,288 514 Total United States Government securities 29,225 37,460 33,381 14,418 Other securities 100 500 Foreign loans on gold 312 276 Total bills and securities . 54,132 70,457 54,794 56,830 Uncollected items 44,003 46,028 42,975 34,346 Bank premises .. . _ . _ . _ _ _ ._ 4,459 4,620 3,968 4,595 All other resources 521 504 733 570 Total resources... 214,666 223,385 219,075 198,132 LIABILITIES Federal reserve notes in actual circulation __ 72, 523 73, 795 72,836 67,165 Deposits: Member bank—reserve account - . .. . .. 86, 728 93,382 92,692 74,923 Government 1,940 1,591 2,291 2,138 Foreign bank 1,098 330 85 70 Other deposits 100 1,156 529 679 Total deposits 89, 866 96,459 95,597 77, 810 Deferred availability items... . . .. _. _ 38, 628 39,472 36,916 38,493 Capital paid in 4,197 4,237 4,338 4,556 Surplus 9,029 8,979 8,977 9,496 All other liabilities _ _. 423 443 411 612 Total liabilities 214,666 223,385 219,075 198,132 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 67 0 58 0 67 6 68 1 Contingent liability on bills purchased for foreign correspondents. 2,202 2,813 1,963 817 415 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

416 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2,—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars! Bills discounted for member banks Fed- Date r T s i b a e t o i i n c l e t d l u s a s - l i Total c U G e u S b . r o r n y e v e - - S - d . c O b o d t i i u h l s l - n e s t r - b o m o B k p i u a e i n e l g r t l - n h s t U s S e t n t c i a i e u t t s e r e i s d - l g e F o o i o a o g n l n r n d - s s T c e r o a r e v s t - a h e l s b M p s a o e b d r e n e r e e s m v - r - i k t - e s s ' p T o d o e s t - i a t l s s n c e c e o u r i r i e r n r t l a - v - a e l e - s s c a p R e e g e r e n r e v - - t s e ment ed tion obligations 1926 Jan. 6..-.. 70, 046 15,91 4,908 11,009 16, 269 37, 460 30C 93, 365 91, 329 93, 567 72, 209 56.3 13.... 67,3101 15,176 6,203 8,973 14, 294 37, 460 280 95, 948 90, 247 92, 734 69, 912 59.0 20.... 70, 4571 19,158 9,983 9,175 13, 479 37, 460 260 90, 213 91,184 92, 979 68, 279 55.9 27.... 67,0731 16,403 6, 742 9,661 13,183 37,127 260 93, 310 90, 798 67, 018 59.1 Feb. 3 65, 521 15,116 i, 035 9,08114, 441 35, 608 256 94, 326 90,132 91, 610 66, 642 59.6 10.... 65, 500 15, 904 \ 375 8, 52914, 796 34, 408 292 92, 576 87, 765 90, 465 66, 575 59.0 17.... 66, 258 16, 892 ",832 14, 726 34, 260 280 94, 065 89, 594 92, 987 66, 205 59.1 24 67, 204 18, 086 10, 302| 7, 78415,. 274 33, 460 284 88, 953 86, 305 87, 352 65, 629 58.1 Mar. 3.. 71, 696 22, 558 14, 739 33, 960 339 84, 455187,135 90,081 65,165 54.4 10.... 65, 958 14,145 13, 896 37, 474 343 84, 957 83, 519 85,070 64,740 56.7 17 54,141 15, 714 12, 731 25, 396 300 99, 847 85, 405 86, 629 64,194 66.2 24.... 61, 875 18, 944 12,136 30, 483 312 91, 827 84, 910 87, 568 63, 519 60.8 31--., 59, 449 14, 081 12, 074 32/ 331 91, 630i 8O5r, 440 88, 330 63,100 60.5 Apr. 7- 66,245 18, 752 13,416 33,734 343 89,271 87,785 89, 708 63, 516 58.3 14. 67, 327 17,477 13, 758 35,753 339 88,205! 87,008 89, 947 62, 870 57.7 21.. 71, 774 22, 640 12, 361 36, 434 339 79.8181 86,00' 88,044 62, 590 53.0 28.. 68,119 20, 618 10, 751 36? 434 316 81,618! 83,028 84, 482161, 739 55.8 May 5... 68, 387 21.151 16, 212 9, 510 37, 434 292 85, 385j 87,309 89,0041 62, 293 56.4 12.. 66, 073 18, 628 3,717 14,911 9,417 37, 739 289 85,710! 85,192 87,1751 62, 010 57.5 19.. 67, 362 19, 832 4,295 15,537 9, 252 37, 989 289 88,795 90,911 92,114 61, 844 57.7 26.. 68, 301 19,245 4,697! 14,548 10, 778 37, r " 84,978! 85,538 87, 592 61, 907 56.8 June 2... 70,143 19, 643 4,935 14,7 11,489 38, 664 347 83, 368; 87,948 89, 759 61, 958 54.9 72, 859 20,117 6,295 13, 822 12, 625 39, 789 328 78, 851 i 86,302 86, 689 62, 208 53.0 16.. 64, 948 18, 637 4, r • * 13, 739 12,' 33, 251 292 87.534! 87,' 89, 049 62, 305 57.8 23,. 67, 053 18,094 3,213 14, 88: 12,180 36, 518 261 86,342| 86,609 87, 042 61, 837 58.0 30.. 63, 573 15, 480 1,493 13, 98" 11,361 36, 518 90,983 89,661 90, 089 61, 384 60.1 July- 7... 64, 280 18, 021 3,833 14,188 11,108 34, 960 191 92, 00' 93, 297 63, 781 59.6 2 1 1 4. . . . 6 6 2 2 , , 3 5 0 9 5 4 1 1 6 6 , , 0 5 4 1 7 7 4 5 , , 1 10 8 8 5 1 1 1 1 , ,4 8 0 6 9 2 1 1 1 1 , ,0 1 1 9 5 2 3 34 5 , , 1 7 1 6 8 8 125 9 9 1 5 , , 8 4 8 5 5 6 1 1 8 9 7 1 , , 9 7 5 8 6 4 8 93 9 , , 9 7 5 5 3 2 1 ;6 6 3 3 , , 4 32 1 1 3 6 6 0 0 . . 0 7 28.. 62, 463 15, 542 5,440 10,102 12,102 34,7 94,8 i 90,203 91, 982 63, 077 61.1 Aug. 4... 65, 869 18,100 6, 57511,525 12, 751 35, 018 100,144! 89,13' 91,141 64, 232 64.5 11.. 58, 449 10, 742 1,615 9 12" 13,121 34, 586 95,47oj 85,272 87, 06564, 729 62.9 18.. 59, 539 10,51" 1,605 8^912 15,096 33,926 100,480! 89,073 92, 738 65, 343 63.6 25.. 57, 958 12, 716 3,954 8, 762 14, 513 30, 729 103,129J 89,280 93,086 65, 283 65.1 Sept. 1... 56,863 12, 341 3, 270 9,0' 14, 355 30,167 104,219! 90,,818 94, 850 65,117 65.2 8... 56, 602 13,069 3,823 9,246 14, 616 28, 917 102,402! 89,708 91, 575 66, 683 64.7 15,. 58, 988 13, 430 4,652 8, 14, 559 30, 999 99, 9411 90,758 92, 933 66, 412 62.7 22.. 59, 62416,946 8,017 8, 929: 14, 679 27, 999 103,967 90,613 94, 578 66, 962 64.4 29.. 53, 896 11, 994 2,903 9,091 14, 713 27,1891 107,409 89,811 93, 467 66, 572! 67.1 Oct. 6... 54, 662 10, 647 2,030 8,617 16,016 27,' 103, 446 89, 54292, 223 67, 269J 64.9 13.. 56,009 10, 937 1, 965 8,972 17, 073 27, 999 103, 837 88, 723 91, 833 67, 268 65.3 20.. 59,070 13, 542 4,03' 9,505 17, 529 27, '" 100, 564 89, 451 90, 887 67, 408 63.5 27.. 59, 609 13, 962 3,810 10,152 17, 648 27, 999 104, 574 92, 314 94, 528 67, 494 64.5 Nov. 3... 62, 612 16, 5531 2,762 13, 791 j17, 710 28, 349 103, 684J 86, 956 90,166 68, 209 65.5 10.. 62, 576 15, 844 2,440 13, 404 18, 383 28, 349 100, 305 90, 803 93, 436 68, 365 62.0 17.. 67, 736 20, 691 7,854 12, 837 18, 396 28, 649 91,838 88, 528 90, 426 69, 369 57.5 24.. 64, 266 17, 756 4,914 12, 842j18, 55" 27, 953 100, 900 92,081 93, 607 69, 510 61.9 Dec. 1... 61, 380 15, 727 5,613 10,114 17,21' 28, 436 97, 940 85, 260 87, 822 69, 687 j 62.2 60, 362 13,119 3,765 9,354 17,918 29, 325! 101,136 87, 225 89,125 71, 870! 62.8 15.. 63,083 16, 597 6, 270 10, 327 19, 467 27, 019! 103,186 93, 229 94, 061 72,0331 62.1 22.. 59, 815 11, 675 4,199| 7,476 19, 726 28, 414 101, 529 89,999 91, 879 74,042| 61.2 29.. 58,181 11, 234 4,104| 7,130 18, 283 28, 664 104,5' 86, 359 88, 265 72, 896' 64.9 Daily average: 1926 63, 600 16, 076 14, 30' 33, 035 162 94,813 88,952 91,246 66, 023 j 60.3 1925 57, 239 9,053 i I 16,820 30, 781 382 101,5081 88,449 91,202; 66,023! 64.6 1924 ..-- 49,042 19, 252! 5,184 24, 512 .102,799 79,537 82, 790! 65,879! 69.1 1923 ..._ 63, 943 39, 8611 23, 347 j 90,316 80,560 84,195! 63,369| 61.2 ^Includes $100,000 Federal intermediate credit bank debentures, Jan. 6 to Mar. 10, inclusive. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No, 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member United States securities United banks Bills bought in open market States bought securities Total Bills from bought Foreign Month p d u is r a c c n o h d u as n e ts s Total c M o n b l e l o a m a t n t e e b k s r e a r l c R o b u e i n d ll i t s s e - d i b m n o a u o r g p k e h e n t t F r b e o e a s t d h e n e r e k r v r s a e l Total o B u o tr u i g g h h t t a r m W e g s e r i a e n t l h e t e - F r b e o e f a s r d t o e h n e m r e k r v r s a e l lo g a o n l s d o 2 n 1926 H January.. 62, 460 53, 212 48,376 4,836 7,915 1,325 1,325 L 8 February 125, 129 118,490 116,218 2,272 5, 695 572 372 o March 128, 265 107, 622 102, 866 4, 756 6,091 659 13, 061 750 82 April 57,328 43,143 32, 372 10, 771 7, 252 4,929 750 739 27 May 53,125 38, 454 28, 385 10, 069 9,081 4, 750 351 June 48, 219 29, 027 22, 493 6,534 8,384 6,946 3,500 342 20 July 63, 405 50, 809 46, 399 4,410 5,612 3,203 1,701 350 1,687 43 T August 55, 989 44, 650 40, 720 3,930 7,239 1,901 850 1,349 September-- 85, 465 64, 729 57, 737 6,992 5, 512 3,028 12,196 October 38, 918 27, 528 21, 368 6,160 7,079 2,501 1,810 November _ _. 69, 707 55, 262 48,137 7,125 6,587 3,100 3, 258 1,500 December 72, 393 49, 764 46, 988 2,776 8,141 2,000 11, 303 1,050 135 00 Total: 1926 860, 403 682, 690 612, 059 70, 631 84, 588 17, 452 55, 693 14, 825 4, 252 903 1925 471, 926 298, 936 249, 511 49, 425 111,110 5,021 28, 726 13, 650 12,313 2,170 1924 347, 864 227, 744 139,025 88, 719 50, 625 3,005 54, 587 6,850 4,277 776 o 1923... 1,013, 268 901,126 732,179 168,947 2,016 2,002 91, 788 13, 670 2,400 3 266 I—I H 1 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926, September, $4,500,000; 1925, $8,000,000; 1924, $10,000,000; and 1923, $73,500,000. 2 Includes Federal intermediate credit bank debentures as follows: 1925, $600,000; and 1924, $500,000. 3 Municipal warrants. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

418 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No, 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district Month s M ou i r s i - i W mi y n o g - Ne k b a ras- C ra o d lo o - Kansaslh O om kl a a - 1 1 | New Total b N e u r m a - t a N c b c u e o m r m - end of modatmonth 2ed during the month 1926 January... 27,270 70 11,919 10,596 j 1, 746 1,566 53,212 1,023 February. 96,815 36 11,002 8,087 I 1,867 661 118, 490 1,020 149 March 87,920 346 11, 747 4,150 2, 477 949 107, 622 1,017 175 April 10,843 71 21,679 5,406 3,054 2,068 22 43,143 1,018 209 May 13,817 49 12,639 4. 256 4,339 3,339 38,454 1,015 224 June 9,056 136 6,709 7,812 2,760 2,538 29,027 1,011 239 July..... 23, 975 29 2,595 21, 876 624 1, 672 50,809 1,010 164 August.. 33, 642 21 2,038 6,362 433 2,144 44, 650 1,009 136 September- 46,350 29 4,347 8,049 1,227 4, 708 i 64, 729 1,006 159 October 4,583 8,159 7.598 1,657 5, 480 | 27, 528 1,003 166 November. 23,102 17,988 9,444 1,558 3,150 20 55,262 999 174 December.. 18,298 I 11, 939 16, 943 1,330 1,254 49, 764 992 156 Total: 1926 395, 671 787 122, 761 110, 579 23,072 29, 529 291 682, 690 1925.... 129, 418 484 68, 720 15, 378 14,190 780 298, 936 1924 80,861 4,637 50, 305 35, 445 20, 994 34,080 1,422 227, 744 1923....497,404 5,092 173,407 139, 377 32, 926 51, 452 1,468 901,126 Number of member banks at end of year:2 1926 167 131 262 340 10 i 992 1925 181 134 266 354 9 ! 1,027 1924 187 144 265 390 12 I 1,086 1923 194 146 278 415 13 1,146 Number of member banks accommodated during the year: 1926. 18 112 95 148 ! 453 1925... 21 108 74 118 | 410 1924 26 ! 133 118 197 ! 586 1923 35 149 128 216 653 ! 1 Figures relate only to that part of the State located in the Kansas City district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 10 KANSAS CITY 419 No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills $643,032 $362,177 $859, 534 $1, 793,861 Purchased bills.., 507, 513 538,179 158,580 29,361 United States securities 1,213, 542 1,117,964 947,929 971,271 Deficient reserve penalties. 24,203 24,544 36,380 37,374 Miscellaneous 289,050 267,121 260,487 162,052 Total earnings 2,677, 340 2,309, 985 2, 262,910 2,993,919 CURRENT EXPENSES Salaries: Bank officers 156,381 154,927 161,144 161,747 Clerical staff . 638,490 654,134 743,286 821,310 Special officers and watchmen 62,695 63,050 75,182 76, 369 All other 167,432 164,167 153, 548 148,210 Governors' conferences 562 519 613 589 Federal reserve agents' conferences 296 279 267 261 Federal Advisory Council 1,023 780 442 707 Directors' meetings 24,601 24, 520 26,276 25,850 Traveling expensesJ 10,165 13,915 14,473 14,999 Assessments for Federal Reserve Board expenses 27, 965 28,484 27,972 30,296 Legal fees 9,856 7,881 9,348 6,040 Insurance (other than on currency and security shipments) 36,179 35,057 36,655 36,202 Insurance on currency and security shipments 15,499 15,090 17,394 17,057 Taxes on banking house 81,636 70, 501 73,662 76, 594 Light, heat, and power 45, 595 37,012 42,093 44, 288 Repairs and alterations, banking house 29, 518 31,759 69,300 55,007 Rent. 27 26, 798 22,986 24,143 Office and other supplies _ 24,315 25,872 26, 305 37,490 Printing and stationery.. 28,742 26,335 34,867 45, 216 Telephone 7,693 7,281 7,760 7,850 Telegraph 61,176 60,678 67, 709 71, 530 Postage 132, 391 134,981 140, 975 142,083 E xpressage 12, 395 11,174 9,531 9,468 Miscellaneous expenses 48,022 52, 911 52,060 50,449 Total, exclusive of cost of currency 1, 622, 654 1,648,105 1, 813, 848 1,903, 755 Federal reserve currency, including shipping charges: Original cost 56,088 70,202 43, 596 9,075 Cost of redemption 4,186 9,136 8643 11,749 Taxes on Federal reserve bank-note circulation.. 3,540 Total current expenses 1,682,928 1, 727,443 1, 866,087 1,928,119 PROFIT AND LOSS ACCOUNT E arnings 2,677,340 2, 309,985 2, 262,910 2,993,919 1,682,928 1, 727,443 1,866,087 1,928,119 Current expenses __. 994,412 582, 542 396,823 1,065, 800 Current net earnings 5,555 13, 232 18,187 4,547 Additions to current net earnings Deductions from current net earnings: Bank premises—depreciation . 209, 309 262,887 628,468 393,983 Furniture and equipment 25,102 38,569 36,408 60,379 Reserve for probable losses 128,086 Reserve for depreciation, United States bonds.. 12,178 All other 9,087 11,397 3,316 128,010 Total deductions 243,498 312,853 668,192 722,636 Net earnings available for dividends, surplus, and franchise tax 756,469 282,921 2-253,182 347, 711 Dividends paid 252, 764 258,426 265,697 275,313 Transferred to surplus account 50,370 2,450 3-518,879 7,240 Franchise tax paid United States Government. 453, 335 22,045 65,158 REIMBURSABLE FISCAL AGENCY EXPENSES Salaries.. 6,921 15, 340 37,430 146,613 All other. 994 2,231 2,498 18, 744 Total. 7,915 17,571 39,928 165,357 1 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. 2 Deficit in earnings before payment of dividends. 3 Deficit in earnings after payment of dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

420 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1924 1923 NUMBER OF FIECES HANDLED Bills discounted: Applications 5,523 4,484 8,404 11, 841 Notes discounted . 36, 304 28, 883 55, 574 67, 667 Bills purchased in open market for own account. 8,717 8,825 3, 574 150 Currency received and counted. 53, 738, 000 51, 355, 000 48, 618,000 48, 265, 000 Coin received and counted _ 65, 855, 000 63, 559, 000 63, 203, 000 66,188, 000 Checks handled _ 70, 500, 000 68, 302, 000 61, 976, 000 58, 566, 000 Collection items handled: United States Government coupons paid. 1, 808, 000 1, 961, 000 2,141,000 2,863,000 Allother... 299, 000 265, 000 281,000 238,000 United States securities—issues, redemptions, and exchanges by fiscal agency department. 201, 000 385, 000 894, 000 J 9, 032, 000 Transfers of funds... 124,000 122,000 119, 000 113,000 AMOUNTS HANDLED Bills discounted. $682, 690, 000 $298, 936,000 $227, 744,000 $901,126, 000 Bills purchased in open market for own account. _ 84, 588,000 111,110,000 50, 625, 000 2,016,000 Currency received and counted.. 263, 949,000 256, 839, 000 243, 905, 000 256,300, 000 Coin received and counted 12,195, 000 12,143, 000 10, 800, 000 10, 257, 000 Checks handled _ 1, 787, 519,000 1,061,946,000 9, 786,001,000 8,817,168.000 Collection items handled: United States Government coupons paid. 19, 070, 000 18, 658, 000 18.060, 000 20, 684, 000 Allother 260, 933, 000 234, 036, 000 230,103, 000 193, 652, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 112,179, 000 146,543,000 161,889,000 317,045,000 Transfers of funds. _ 5, 533, «74, 000 5, 075, 401, 000 4, 358, 822, 000 3,189, 812,000 i Large total due to redemption of war-savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash- items only. Numbers in thousands; amounts in thousands of dollars] m m It e e e o m m m w b b s n e e r r d d r i b a a s n a t w r d n i n k c n s t o o n i n n - ! s o I e n i t r t e s v F m e b e s d b r a e a d n r n r a c k a l h w r a e n e s n - d F It e e e b d m d a e n r s t a o k l f s o o r r a t e w h n s e e d a r r r v d e - S It o t e a n m t e u s U s r n e d T r i r r t a e e w d as n - Total i Month their branches N b u e m r - Amount N b u e m r -| Amount N b u e m r - Amount N b u e m r - Amount N b u e m r - Amount 1926 January 5,201 $762, 999 $62, 204 253 $57, 268 145 $18,426 5,607 $901,052 February 4,849 650, 558 60, 742 237 52, 054 138 19,193 5,230 782, 763 March 5,698 816,661 83, 232 281 59, 786 187 26, 708 6,174 986, 626 April. 5,193 722, 503 73, 549 253 54,187 230 22, 581 5,683 872,993 May 5,14? 700, 791 74, 245 233 54,003 182 19,800 5,564 848,996 June 5,557 783, 531 82, 606 255 53,050 162 24,670 5,982 944,075 July... 5,490 868, 474 81, 430 240 56,513 153 19, 363 5,891 1, 026,009 August 5, 261 8J 7, 339 82,128 230 52, 363 153 19, 738 5, 651 971, 714 September 5,303 828, 602 74, 641 231 56,190 189 30,131 5,730 989,750 October. 5,442 867,033 99, 666 229 54, 626 239 26, 093 5,917 1,047, 571 November 5,400 838,715 91,847 229 51,367 187 22,169 5,823 1,004,222 December. 5,813 836, 063 ]28, 929 257 54, 774 164 26,779 6,241 1,046,721 Total: 1926... _ 64, 349 9,493, 269 995,219 2,928 656,181 2,129 275, 651 69. 49311,422,492 1925 61, 949 8, 959, 690 792, 252 3, 033 690, 296 2,062 243, 852 67,119 10, 688,650 1924 55, 630 7, 676, 384 771,161 2.964 663, 531 2,043 258, 577 60,723 9,372, 785 1923._._ 50, 809 2 7, 460, 856 4,056 717, 736 2,007 227,705 56,384 8,410,321 1 Includes items forwarded direct to drawee banks in other districts as follows: 1926—3,000 items, $2,172,- 000; 1925—3,000 items, $2,560,000; 1924—5,000 items, $3,132,000; 1923—12,000 items, $4,024,000; excludes duplications on account of items being handled by both the parent bank and one of its branches or by two of its branches. 2 Lncludes items drawn on Federal reserve bank and its branches, separate figures not being available. 3 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 10 KANSAS CITY 421 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal Transfers for Total Total Transit clearing reserve note Government pay- receipts clearing account ments from 1926, week ending- to otljer other Net Net Federal Federal loss gain Pay- Re- Pay- Re- Pay- Re- reserve reserve ments ceipts ceipts ments ceipts banks banks Jan. 6 (5 days). 86, 443 76, 710 415 3,000 86, 858 79,710i 7,148|_. _ 13. 99, 662 98, 281 738 1,115 100,400 99,396 l,004| 20 105, 809 100,126 736 288 106,545 100,414, 6,131.. 27 96, 733 97, 553 791 97,601 98,844 1,243 Feb. 3.. 96,152 96,924 591 253 743 97,177 434 10-. 87,456 81, 387 552 145 88,008! 81, 5326,476 17.. 89, 569 91,190 426 6101. 91,800 I" 805 24.. 81, 783 78,175 348 197 82,131 i 78,372! 3,759 Mar. 3.. 100,494 93, 663 760 571. 101,254 94,234 7,020 10.. 100,052 98, 335 442 377 100,494 98.7121 1,78? 17.. 105, 999 121,118 443 385 1,000 107,442 121,503! 14, 061 24.. 104, 614 100, 557 513 598 5,000 110,127 101,155| 8,972 31.. 96, 945 97, 407 626 301 97, 571 97,708 137 Apr. 7 100, 658 95, 776 566 436 2,000 101, 224 98,212 3,012 14 93,513 89, 685 330 461 93, 843 90,146! 3,697 21 _ 102,129 92, 994 513 121 102,642 93,1151 9,527 28 87, 205 85, 700 568 917 500 87, 773 87,117 656 May 5 . 91, 578 95, 868 418 262 91,996 96,1301 4,134 12 94,942 92,137 461 95 95,403 92,232| 3,171 19 99, 37^ 102,756 512 658 99, 889 103,9141 4,"025 26 96,903 89, 308 441 397 97, 344 89,7051 7,639 June 2 77, 444 75,513 485 321 77, 929 75,8341 2,095 9 _ 97, 289 89, 486 461 733 j. 2,900 97, 750 93,119| 4,631 16 _. 98, 725 102, 876 498 165 4,900 99, 223 107,941! 8,718 23.. 99,476 102, 840 411 691 5,000 1,000 104,887 104, 531! 356 30.. 97, 935 102, 016 596 700 98, 531 103, 099 'I', 568 July 7 97,204 98, 238 426 2,500 97, 630 100,738 3,108 14 108,534 104,144 443 772 1,000 108, 977 105, 916i 3,061 21 ! 107,109 110,611 510 305 107,619 110,916 3~297 28.. __! 113,742 111,820 616 1,131 114, 358 112,951 1,407 Aug. 4 97,7' 102, 355 597 126 98, 374 102,481!. 4,107 11 111,985 104, 368 510 997! 112, 995 105,365 7,630 18 106,801 110,898 537 107,338 110,898 3," 560 25 109,444 111, 984 511 109, 955 112,349 2,394 Sept. 1_. 101,: 102, 304 632 102,530 103,230! 700 8 89,143 85, 675 372 1, 000 4,100 90, 515 89,775! 740 115,554 110, 509 600 1,900 116,154 113,398 2,756 22.. 114,894 119,164 658 206 600 115,552 119,970 4,418 29.. 108, 961 109,923 870 1,255 1,000 109, 831 112,178 2,347 Oct. 6. 111,223 105, 968 622 111,845 105,968; 5,877 13 _._ 101,147 98, 778 604 1,041 1,000 1,500 102, 7511 101,319 1,432 20 __ _! 114,887 112, 010 584 173 1,500 1,000 116,971 113,183 3,788 27 __| 114,654 114,798 618 1,000 115,272 116,636 1,364 Nov. 3 ...! 99,031 96,085 425 385. 99,456| 96,470 2,986 10.. | 118.408 113,674 839 119,2471 113,674 5,573 17. __ ! 113,248 102, 854 512 1,104 1, 000 1,500 114,760! 105,458! 9,302 24 j 123,670 130,295 596 334 124,266! 130,629. 6,363 Dec. 1 I 108,284 103,772 545 108, 8291 104,527 4,302 8... J 100,787 101,312 538 101,325! 101,312! 13 15. I 112,894 110, 579 665 2,000! 113,559: 113,348! 211 22. ! 109,183 111,742 566 842 3,000 112, 7491 112,5841 165 29 j 97,375 97, 634 503 618| Toooj 97, 878J 99,252 _ 1,374 31 (2 days) J 36,928 41,218 63 218| 1,000 37, 9911 41,436! 3,445 Total: 1926 __J5,333, 650 5, 271,09328,680 25,420 20,000 35,100 5, 382,330 5, 331, 613 50, 717 1925 _.! 8,500 48, 600! 5,170, 48115,119, 791 50, 690 1924 __! 9,000 51, 500 4, 705,15714, 705, 710| _ 553 1923.. I i. 17,000 82, 000 4, 367, 576 4, 329, 327 38, 249 ! i Net loss in ownership of gold since establishment of fund in 1915, $116,550,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] KANSAS CITY DISTRICT Loans and investments Net Investments Capital demand Reserve Bills Num- Due surplus Total Demand Time United Due Net plus with payable ber of Call date Total L a d o n i a s d n - s G U ov .S e . rn-1 Other b f a ro n m ks a d p n i r v d o i f d u i e t n s d - deposits po d s e i - ts 2 p d o e s - its d S ep ta o t s e i s ts ba t n o ks d d e e p m o a si n t d s3 a G n m o d v e t e n i r m t n- e r F e b e s a d e n e rv k ra e l c r o e a d u n i n d s t - s r b e a i p n n o g k rt s counts i Total rnent j securi- deposits seeuri- ties ties 1921 Dec. 31... 1,053, 932 858, 261 195, 671 107,8 17, 832 156, 266 170,917 1,092,154 649, 615 242, 616 8,834 191,089 687, 219 938, 669 72, 322 95,019 1,092 1922 Mar. 10--- ,022,086 827, 424 194,662 109.904 84, 758 199,510 173, 0561,145,677 656, 670 243. 049 14,636 231,322 705, 882 963, 567 72, 508 48, 767 1,112 June 30.-- , 070, 598 842, 236 228, 362 134,012 94, 350 206, 791 174,200 1, 232, 560 727, 987 262, 921 7,776 233, 876 782,426 1,053,123 79, 765 31, 238 1,147 Dec. 29-.-. ,117,734 866, 688 251, 046 150,101 100, 945 206, 544 179, 4371,288,665 751,111 273,040 12, 542 251,972 803, 024 1, 088, 606 81,143 35, 873 1,142 1923 Apr. 3 ,136,214 876, 800 259, 414 160,323 99, 091 202, 278 174,377 1,308,823 759, 407 285, 648 12, 864 250, 904 823, 766 1,122, 278 85, 040 32,607 1,145 June 30--_. , 147, 773 886,116 261, 657 162,127 99, 530 173,949 172, 908 1, 258, 935 735, 871 300, 687 9,209 213,168 787, 551 1,097,447 81,198 58, 657 1,145 Sept. 14._. , 132,177 872, 614 259, 563 160, 890 98, 673 172,014 173,860 1,256,028 734, 720 299, 566 6, 652 215, 090 786, 368 1,092,586 82,152 48, 862 1,142 Dec. 31-_-. , 098,168 849, 063 249,105 142,444 106, 661 179, 835 165,727 1, 234, 642 722,172 291,930 6, 764 213, 776 759, 360 1,058,054 76, 579 53, 396 1,122 1924 Mar. 31.... 1,059,287 822, 704 236, 583 137,399 99,184 168, 733 165, 666 1,197, 626 694,718 293. 850 8,404 200, 654 745, 621 1,047, 875 74,998 24, 914 1,098 June 30 ,039,816 799, 805 240,011 135, 290 104, 721 201,079 162,393 1,228,859 708, 271 298, 607 6, 504 215, 477 747, 710 1, 052, 821 78, 241 22, 815 1,087 Oct. 10 1, 059, 636 795,149 264, 487 148,876 115,611 306, 566 163,859 1,381,373 745, 360 297, 288 7, 665 331,060 812,230 1,117,183 86, 096 10, 248 1,082 Dec. 31..-. 1,080,888 800, 838 280,050 151,171 128, 879 313,260 158,657 1,441,368 779, 724 295, 985 6,538 359,121 876,033 1,178, 556 93, 892 6,256 1,066 1925 Apr. 6 1,116,638 811,590 305, 048 171,049 133, 999 240, 836 159, 361 1, 386, 978 772, 401 305, 237 13,561 295, 779 868. 641 1,187, 439 89, 453 6, 961 1,056 June 30-... 1,115, 806 804, 929 310, 877 174, 493 136,384 231, 461 159, 643 1, 384, 582 793, 815 312,102 7,120 271, 545 863, 660 1,182,882 91, 446 8,753 1,048 Sept. 28. __ 1,136, 942 817,277 319, 665 178, 223 141, 442 197, 240 158,118 1,364,292 795, 267 309, 748 7,965 251,312 871, 339 1,189,052 87, 775 10, 896 1,038 Dec. 31-.-. 1,132, 852 804, 988 327, 864 182, 636 145, 228 229, 406 154,037 1,408,448 836, 652 294, 962 8, 330 268, 504 891,807 1,195,C99 92, 986 16,898 1,027 1926 Apr. 12-... 1,139. 414 794, 233 345,181 199, 322 145,859 188,641 156,055 1,348,970 794, 508 315,685 15, 808 222, 969 845, 366 1,176, 859 83, 990 20,007 1,017 June30_._. 1,157,139 811,649 345, 490 187, 698 157, 792 199, 704 153,771 1,391,499 818, 273 323, 494 11, 509 238, 223 871, 088 1,206,091 88, 973 16, 503 1,011 Dec. 31..-. 1,136,015 777, 458 358, 557 182,962 175,595 218,763 152,389 1, 403, 449 822.157 317, 771 7, 856 255, 665 874, 816 1, 200, 443 86,102 7,434 992 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY -OF DENVER I 1925 Dec. 31 — . 125, 713 75, 775 49, 938 25,533 24,405 27,488 13,091 166,189 17,913 53, 363 1,073 23, 840 85, 738 1926 Apr. 12-. _. 131, 238 77, 814 53, 424 j 30, 917 22, 507 18, 662 13,713 161,552 87,185 56,112 950 17,305 June 30 129, 571 74, 428 55,143 i 30,614 24, 529 19, 250 13,921 159,535 87, 346 54,590 779 16, 820 Dee. 31.__. 136,100 80, 630 55,470 28,917 26, 553 23,172 14,264 170,541 89, 809 56, 842 233 23,657 KANSAS CITY, KANS. 1925 Dec. 31,.- 9,452 6,714 2, 738 1,818 920 1505 1,150 11,690 6,158 1,556 172 3,804 I 7,160 w 1926 S Apr. 12... 9, 379 6,572 2,807 1884 923 944 1,133 10,316 5,274 1,546 401 3,095 i 6, 536 June 30 9, 798 6,992 2,806 1707 1099 1887 1,140 12, 396 7,002 1,571 305 3,518 | 7, 405 DecT3T:;; 9, 624 6,§63^ 2,761 1,572 1189 1447 1, 11,671 6,301 1,707 131 3, 532 ! 7,232 KANSAS CITY, MO 1925 Dec. 31..-. 182, 669 131, 784 50, 885 33, 324 17, 561 37, 541 22, 289 251, 551 142,177 15,247 3,132 90, 995 169, 585 187, 964 19, 555 2,478 1926 Apr. 12-... 179,613 122, 839 56, 774 38, 980 17, 794 27,373 22, 597 229, 424 123, 727 17,294 10, 725 77, 678 151, 683 179, 702 15,263 2,448 12 J D u e n c e . . 3 3 1 0 — --- . 1 1 7 9 5 1 , , 5 6 8 6 0 5 1 1 2 3 0 2 , , 3 7 9 9 2 5 5 54 9 , , 7 2 8 7 5 3 3 33 0 , , 0 7 1 4 9 6 2 25 4 , , 7 5 6 2 6 7 2 2 9 6, , 9 3 7 3 1 3 2 2 2 2 , , 6 4 6 7 5 5 2 23 4 3 4 , , 4 5 5 1 2 8 1 1 2 3 3 7 , , 0 5 2 0 1 0 2 1 0 7 , , 4 8 3 9 3 8 4 6 , , 1 8 5 2 5 8 8 8 5 2 , , 4 7 3 0 0 5 1 1 5 6 3 9 , , 1 5 0 5 3 0 1 19 7 3 8 , , 1 8 3 2 8 9 1 1 5 9 , , 7 7 7 6 2 0 4,939 1 1 1 2 O2 O CITY OF LINCOLN ! 1925 Dec. 31.... 20,194 15, 706 4,488 1,687 2,801 3,142 2,888 23, 518 12, 344 3,977 67 7,130 15,527 19, 571 1,832 884 1926 Apr. 12-.-. 20, 082 16,080 4,002 1,445 2,557 2,823 2,915 23,098 12, 291 3,988 15 6,804 15,362 19, 365 1,538 287 June 30 20, 274 15, 931 4,343 1,434 2,909 2,918 2,902 23, 768 12, 506 4,180 16 7,066 16,086 20, 282 1,796 200 Dee. 31.... 18, 416 14, 585 3,831 1,177 2,654 2,841 2,652 22,114 11,432 4,076 51 6,555 14, 547 18, 674 1,571 268 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding 3 Demand deposits on which reserves are computed. CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued CITY OF MUSKOGEE [Amounts in thousands of dollars] Loans and investments Net Investments Capital demand Reserve Bills Num- Date Total L a d o n i a s d - ns G U ov .S e . rn- Other b f D a ro n u m k e s a d s p n u i r v d r o i p f d u l i e u t n s d s - de T p o o t s a i l ts D p e o d m s e it - a s n 2 d p T o d i s m e i - t e s d U S ep n ta o i t t s e e i s d ts b D a t n o u k e s d d e e p N m o e a s t i n t d s3 a G n m o p d v l e u t e n i s r m t n- e F re b w e s a d e i n e t r h k r v a e l c r a o e a y u d n a n d i b s t - l s e r b b e a e i p n r n o g k o r s t f counts i Total ment securi- deposits securi- ties ties 1925 Dec 31 9,425 6,384 3,041 2,677 364 1,908 1,040 11,710 6,674 2,634 133 2,269 6,752 9,519 872 2 1926 Apr. 12 . 9,340 5,333 4,007 3, 643 364 1,393 L038 10,689 6,464 2,827 83 1,315 6,346 9,256 616 2 June 30 10,131 5,853 4,278 4,076 202 1,316 1,124 11,476 6,463 3,218 149 1,646 6,661 10,028 941 3 Dec. 31 10,943 5,968 4,975 4, 737 238 1,548 1,134 12,530 7,357 2, 892 655 1,626 7,173 10,720 911 3 OKLAHOMA CITY 1925 i • • 'I i Dec.31 i 52,834 ;j 34,545 18,289 10,996 7,293 10,685 5,804 74, 313 39,635 12,710 583 21,385 42, 825 56,118 5,137 1926 | . !| Apr. 12 54,426 i| 32,904 21,522 12,115 9,407 6,007 69,953 38,570 15,159 357 15,867 40,599 56,115 610 June 30 53,908 j 33,048 20,860 11,695 9,165 11,230 5,644 73.629 41,991 14,815 656 16,167 41,268 56, 739 4,070 83 Dec.31 I 55,191 34,097 21,094 11,979 9,115 10,056 5,650 76, 722 39,946 15, 985 125 20,666 42,399 58,509 4,797 CITY OF OMAHA 1925 Dec. 31.-—. 80,319 61,886 18,433 8,315 10,118 15,404 10,716 100,550 54,318 11,192 854 34,186 65,342 77,388 6,890 4,069 . 1926 Apr. 12 83,147 62, 804 20,343 9,159 11,184 13, 462 10,608 96,506 51,652 12,648 714 31,492 62,792 76,154 6,181 7,200 June 30 74,910 62,013 12,897 3, 331 9,566 16, 927 9,002 99, 980 51,420 12, 804 559 35,197 63, 313 76,676 6,389 Dec.31 71,131 55,452 15,679 3,318 12,361 14, 641 8, 885 93, 724 50, 714 12,607 280 30,123 58,348 71, 235 4,899 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF PUEBLO 1925 Dec. 31_. 11,941 6,687 5,254 1,604 3,650 4,132 1,869 15, 768 8,175 3,976 29 3,588 8,035 12, 040 960 2 1926 Apr. 12 11 802 0,468 5 334 1 646 3 688 4 165 1 908 15 475 7 800 3 946 22 3 707 7 716 11 684 912 2 June 30 11,751 6, 325 5, 426 1,660 3,766 2,411 1 846 13 598 6 829 4,211 21 2 537 6 824 11 056 836 2 Dec. 31 11, 872 6,315 5, 557 1,668 3,889 7, 205 1,865 19,006 10, 043 4,433 30 4,500 9,935 14, 398 1,126 2 CITY OF ST. JOSEPH i ,,J 1—1 1925 Ui Dec. 31 22, 516 19,509 3,007 1,567 1,440 4,841 2,610 28, 913 10,407 7,582 122 10, 802 14,882 22,586 1,825 1926 Apr. 12 21, 379 17, 934 3,445 1,942 1,503 3,927 2,657 25, 816 9,204 7,060 171 9,381 13,951 21,182 1,510 June 30 21, 087 17,422 3,665 2,113 1,552 4,844 2,652 26,495 8,807 7,024 108 10,556 13,806 20, 938 1,711 5 Dec. 31,., . 18,864 15,897 2, 967 1,399 1,568 5, 892 2,614 26,493 9,871 6,892 42 9,688 12,703 19,637 1,806 5 tozj CITY OF TOPEKA M O 1925 5 I Dec. 31 . 14,664 8,102 6,562 2,831 3,731 4,454 1,974 19,620 13,834 1,555 373 3,858 14, 219 16,147 1,541 1926 Apr 12 14 594 8,135 6 459 3 146 3 313 2 374 2,017 17,461 12, 768 1,267 408 3,018 14,008 15, 683 1,450 5 p> June 30 15,134 8,088 7,046 3,382 3,664 3,585 2,032 19,201 13, 573 1,555 461 3,612 14,442 16,458 1,509 5 Ul Dec. 31 15,337 8,108 7,229 3,171 4,058 3,975 2,056 20,185 14,952 1,566 425 3,242 15,300 17,291 1,603 5 a H CITY OF TULSA 1925 Dec 31 65,860 54, 769 11,091 7,293 3,798 8,735 6,784 81,149 49,277 12,094 47 19, 731 58,833 70,974 5,843 6 1926 Apr 12 67 878 55 528 12 350 7 753 4,597 14 619 7 014 90 660 59, 730 19, 855 38 11,037 58, 256 78,149 6,509 6 June 30 75,059 60,644 14,415 9,118 5,297 13,407 7,139 95, 722 61,314 22,087 33 12,288 60,345 82,465 6,241 6 Dec. 31 72,614 56,195 16,419 9,270 7,149 10,859 7,324 90,150 54,812 14,430 233 20, 675 62,770 77,433 5,896 6 i Including rediscounts and overdrafts. to '2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deDOsits on which reserves are comDUted. Or Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued to [Amounts in thousands of dollars] CITY OF WICHITA Loans and investments Net Investments Capital, demand Reserve Bills Num- i Call date Total a c L n o d u o n a d n ts i s s * - Total G m U o . v e e n S r . t n- s O ec th u e ri r - b f D r a o n u m k e s s a d p u n i r v r d o p i f d l u i u e t n s s d - , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p i o m s e its d U e S p n ta o it t s e e i d s ts D ba u n e k t s o d d e e p N m o e a s t n it d s3m G e t o p i n m v l t u e a e s r n n d - F re b w e s a d e i n e t r h v k ra e l p c r a o e a y u d n a n i d b s t - l s e r b b e a i e p n n r o g k r o t s f securi- ties deposits i ties 1925 Dec. 31 . 21,202 14,147 7,055 884 6,171 5,402 3,784 29,435 15,423 5,442 153 8,417 16,696 22,291 2,052 74 4 1926 Apr. 12.. 23,029 16,601 6,428 727 5,701 5,245 3,808 30,190 14,948 5,314 111 9,817 18,397 23, 822 2,100 4 3 June 30 24,746 18,451 6, 295 604 5,691 6,073 3,812 34,124 16,027 5,413 116 12,568 20,291 25,820 2,322 4 Dec. 31.... 24,629 16,157 8,472 1,256 7,216 5,186 3,790 32,704 16, 488 5,611 118 10,487 20,052 25, 781 2,290 4 fed 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks'outstanding. 3 Demand deposits on which reserves are computed. 50 < HI O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 10—KANSAS CITY 427 No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 (1,027 1926(1,017 1926 (1,011 1926(992 banks) banks) banks) banks) RESOURCES Loans and discounts 803,735 793,039 810,539 776, 538 Overdrafts 1,253 1,194 1,110 920 United States Government securities 182, 636 199,322 187,698 182, 962 Other bonds, stocks, and securities 145,228 145,859 157,792 175,595 Total loans and investments _ _ 1,132,852 1,139,414 1,157,139 1,136, 015 Customers' liability on account of acceptances 131 79 9 166 Banking house, furniture, and fixtures 43,569 43,69Q 44,694 44,337 Other real estate owned 16,81t) 17, 026 16; 591 14,987 Cash in vault 30,891 27,988 27,836 28,146 Reserve with Federal reserve bank 92,986 83,990 88,973 86,102 Items with Federal reserve banks in process of collection 39, 733 36,011 35,920 40,468 Due from banks, bankers, and trust companies 229, 406 1&, 641 199, 704 218,367 Exchanges for clearing houses and checks on other banks in same place 24,107 20,122 22,321 24,518 Outside checks and other cash items 5,379 5,053 4,793 5,456 Redemption fund and due from United States Treasurer 1,816 1,774 1,787 1,751 United States securities bonowed i 1 1 1,069 849 Other securities borrowed * 332 200 Other assets _ 4,443 3,439 3,824 3,414 Total. 1,622,124 1, 567,228 1,604, 992 1,604, 776 LIABILITIES Capital stock paid in 93,443 93,662 92,978 91, 703 Surplus fund... _ 43,926 43,388 42, 908 42, 811 Undivided profits, less expenses and taxes paid 16, 668 19,005 17,885 17,875 Reserved for taxes, interest, etc., accrued 2,842 3,285 3,395 3,158 Due to Federal reserve banks. 178 27 193 Due to banks, bankers, and trust companies 268,326 222, 969 238,196 255,472 Certified arid cashiers' or treasurers' checks outstanding 41, 543 15,200 19,538 38,921 Demand deposits... . 795,109 779,308 798,735 783,236 Time deposits 294,962 315, 685 323,494 317, 771 United States deposits 8,330 15,808 11, 509 7,856 Total deposits 1,408,448 1,391,499 1,403,449 Agreements to repurchase United States Government or 1, 348,970 other securities sold 110 91 Bills payable (including all obligations representing money 72 borrowed, other than rediscounts) 7,694 5,302 2,187 Notes and bills rediscounted (including acceptances of other 10,308 banks and foreign bills of exchange or drafts sold with indorsement) 9,204 11,201 5,247 Letters of credit and travelers' checks sold for cash and outstanding _ 80 82 157 64 Acceptances executed for customers 128 76 164 Acceptances executed by other banks for account of reporting banks ._ 1 1 2 National-bank notes outstanding 35,952 35,095 35, 551 34,663 United States securities borrowed 960 1,251 1,069 849 Other securities borrowed 369 331 332 200 Other liabilities 2,299 2,003 2,009 2,313 Total _ _ j 1,622,124 1,567,228 1,604,992 1,604, 776 * Exclusive of securities borrowed by national banks prior to June 30,1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

428 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having a Banks in cities and towns having population of— a population of— Date Total Total 5 t L h ,0 e a 0 s n s 0 5 1 , 4 0 , 0 9 0 9 t 9 o 1 9 5 9 , , 00 99 0 9 to 10 o a 0 v n , e d 0 r 00 t 5 L h ,0 e a 0 s n s 0 5 1 ,0 4 0 ,9 0 9 t 9 o 15,000 to 10 o a 0 v n , e 0 d r 00 1923 Apr. 25... 799,519 194, 964 127,085 182, 263 295, 207 291.868 91, 539 57, 876 60,621 81, 832 May 23.. 782, 763 191,703 125, 237 178,983 286,840 295,432 91, 394 57, 737 63, 240 83,061 June 27._ 783, 547 192,194 128,071 181, 747 281, 535 299, 657 93, 661 58,110 62, 857 85,029 July 25.._ 772, 340 189.070 122,497 172,644 288,129 303, 778 96, 637 58, 640 65, 758 82, 743 Aug. 29.. 779, 087 188, 318 124,249 170,854 295,666 305,068 95,079 60,476 65, 725 83, 788 Sept. 26.- 769,068 188, 619 125, 264 169, 622 285, 563 301,271 94, 229 57, 524 ! 65,200 84, 318 Oct.24... 752, 307 190,143 123,416 164, 625 274,123 300,572 93, 313 57, 593 64,801 84, 865 Nov. 28.. 740, 856 191,071 119,187 159, 520 271,078 297,996 91,196 56, 573 63,552 86, 675 Dec. 26... 747,800 194, 430 121, 654 162, 319 269, 397 291,136 89, 477 55, 345 | 59,860 86,454 1924 Jan. 23... 739, 111 187,947 117,443 162,524 271,197 293, 686 90, 502 56, 402 62,146 84, 636 Feb. 27... 739, 231 184, 518 115,273i 164,015 275,425 292,437 89,062 56, 998 61,808 84, 569 Mar. 26.. 738, 708 180, 311 115,756 168, 465 274,176 293,369 89.224 57, 347 62,547 84, 251 Apr. 23___ 719, 296 175,935 114,371 166,404 262,586 293,682 90,065 57,026 61,934 84,657 May 28.. 714,321 172,858 106, 633 163,881 270,949 296, 659 89, 617 57. 630 63,541 85,871 June 25 _ _ 727, 746 175, 360 115, 325 165,127 271, 934 297, 679 89, 677 56, 683 63, 898 87,421 July 23.. . 729, 803 177, 389 109, 621 160,791 282,002 298, 465 91,447 55,618 65,934 85,466 Aug. 27.. 756,814 186, 608 111,858 169,191 289,157 299, 705 91, 734 56,574 66,990 84,407 Sept. 24._ 786,470 192,074 114,239 173,574 306,583 299, 667 92, 789 55,498 67,313 84,067 Oct.29_._ 830,032 210,385 116,497 181,955 321,195 298,851 92, 900 55, 578 67,763 82, 610 Nov. 26.. 217,174 118,107 190, 514 322,593 300,293 92,287 56,637 67, 843 83, 526 Dee. 24... 858,629 219,141 119,434 197,484 322, 570 296,288 90,663 55, 848 66, 394 83,383 1925 Jan. 28_.. 861,150 212,317 118,837 200,172 329, 824 300,970 93, 429 55, 749 67,772 84,020 Feb. 25___ 871, 625 214,172 118,389 205, 325 333,739 302, 798 94,056 56,509 67,542 84, 691 Mar. 25.. 872,756 210,564 119, 730 211,530 330,932 305, 752 94, 746 57,405 68,145 85,456 Apr. 22... 838,824 200,559 119,106 199, 460 319, 699 307,175 96,158 57,620 69, 832 83, 565 May 27.. 824,391 195,890 119,500 199,859 309,142 309, 873 96, 302 57, 896 71,714 83,961 June 24.. 836,559 197, 033 119,573 207, 335 312,618 309,948 96, 543 58,073 71, 308 84,024 July 29... 864,546 199, 050 121, 504 207, 217 336, 775 311,108 97, 757 58,757 68, 321 86,273 Aug. 26.. 884,027 198, 600 124, 793 220, 748 339,886 315, 444 97, 205 58, 535 72,513 87,191 Sept. 23.. 867,688 202, 207 123, 387 215,236 326. 858 311,337 96, 343 58,125 71,092 85, 777 Oct. 28... 837,559 208,311 123,413 208,061 297, 774 326, 890 95, 308 57, 255 70, 309 104,018 Nov. 25.. 847, 480 211,130 121,375 211,975 303,000 313,791 94, 242 56,534 71, 651 91, 364 Dec. 23.. 870, 557 214,183 123,779 220, 497 312,098 306,105 92, 435 55, 767 68,812 89,091 1926 Jan. 27... 862,059 205,493 122, 941 213,421 :320,204 314,084 93,173 56, 227 74,296 90,388 Feb.24.. 862, 546 204,428 121,436 217,464 :319,218 315,370 93, 682 57,311 75, 318 89,059 Mar. 24.. 842,218 201, 024 121,759 213,005 :306,430 319,296 94,010 57, 380 77, 294 90,612 Apr. 28.. 827,071 193,022 119,949 213,297 300, 803 321,296 94, 916 58, 555 80, 500 87, 325 May 26.. 852,781 190, 396 120, 255 220,054 322,076 321,807 94,609 58,681 81,300 87, 217 June 23.. 851, 921 190, 633 119,188 224,355 317,745 321,439 94, 912 58,806 80, 530 87,191 July28___ 890,483 201,368 120,742 239,351 i329,022 322,135 95. 472 59,627 79,675 87,361 Aug. 25.. 890,851 199, 424 122, 377 240.333 i328,717 323, 628 94,768 59,835 79, 481 89,544 Sept. 22.. 878,450 201, 584 124, 548 233,968 318,350 325,290 94,278 59,631 81,076 90, 305 Oct. 27... 875,044 202, 496 126,065 229,981 316, 502 326,543 94, 275 59, 807 82,286 90,175 Nov. 24.. 863, 527 204, 267 124, 900 226,919 307,441 322,942 93, 610 59, 789 81,767 87, 776 Dec. 29.. 869,191 204,633 123,836 233,459 |307, 263 316, 270 92,023 58, 690 79,034 86,523 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 10—KANSAS CITY 429 No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Date (Wednesday) Total Lo T a o n t s a l and s L e O o c i a n n u n r v - s est o m A th e l e l n r ts m v I e e n s n - t t - s Tota G l ove m N r a d n e e n m - t d ent T d im ep e osi m t G e s r e o n n v - t - re s b w F e R s e a e r e i r e n a t d v r - h l k v - e e s re b f r B F i e s r o n a o r e e o w n g a d r m r k s l v - - - e ities Weekly averages: 1922 557, 522431,983 79,440 352, 543 125,539 539, 807'420,308113,1,,512 5,987 45,239 10,608 1923 593,776;444, 50586,847 357,658 149,271 568,039 435, 214 1310,,1:37 2,688 47, 28925,808 1924_ 550,126413,704 89,779 323, 925 136,422 559,903 424,103 133, 547 2,253 47,617 6,979 1925 611,077 , 324 114,239 327,085 169, 753 630, 793488,605 140,104 V 53,580 3,480 1926__ 625,866433, 978 113, 671 320,307 191,888 647,764 496, 111 147, 0924,561 55,061 8,466 1926 Jan. 6_ 603,949 432,383 113,, 346 319.,037 171,566 628,419482,663 143, 1,992 56, 815 7,907 609,082 433,362 1'2"0 ,552244 331122,,883388 117755,, 72jO 641, 844489,6311500,,362 1,851 56,142 7,238 20 _ 623,274 446,935 000 325,935 176,339 645,116497, 538 1455,,827 1,751 57,339 11,029 27_ 620,024 439,316 114,995 324,321 180ii, 708 634,382490,574 1422, 228800 1,528 55,382 8,107 Feb. 3_ 619,112 4381,,322114,644 323,678 180,790 636,653 491,397143,1,475 1,781 56, 557 7,006 622, 715441,905119,831322,074 180,810 639,834 492,757 142!,,226 4,851 54,163 8,013 623,859443,347 209 323,138 180,512 645,295 499,398 144:,,046 1,851 56,188 8,959 624,353443,277 536 323,741181,076 642,433 494, 900 14»5,,752 1,781 53,433 10,194 Mar. 3. 629,078 1443,323 118,864 324:,, 459 185, 755 646, 204396,034 148,365 1,804 53,760 14,499 10. 617,786 436,616116,313 320,1,303181,170 632,314481,342149,168 1,804 50,111 6,463 17_ 631,384440,063 116,971 323,092 191,321 649,405487,778149,017 12, 61052,165 8,051 24 _ 627,182433,257 108,543 324, 714 193, 925 639, 54,9480,164 149, 289 10,096 51,844 11,410 31 _ 624,331431, 709 108,664 323, 045 192,622 642,420481, 928 150,396 10,096 52,342 6,640 Apr. 7_ 619, 687425, 800 105,787 320, 013 193, 887 637,314'479, 666 147, 552 10,096 55,013 11,017 14 _ 620^ 138 426, 914 106, 727 320,187H93, 224 637, 643481,078 146,469 10,096 54,732 9,695 21. 615,046 426, 968 106,430 320,538 188,078 629,300|474, 828 1466,, 167^ 8305 53,766 14,456 28 _ 615, 802421,999102,183 319,816193,803 623,735 469,028 14:66,,402 50,520 11, 770 May 5.. 613,776420,177101; 427 318,750 193, 599 627,120'472, 713 146[,,433 53,814 12,303 12_ 621, 282427; 821108, 466 319,355 193,461 636,640|483,128 145i,,939 52,822 10,031 19. 627,313433,354 114,457 318,897 193, 959 651,175 497, 949 146, 598 58,591 10,869 26 _ 629,423432, 315 112, 284 320,031197,108 649, 322 496, 077 146, 885 53,400 9, 904 June 2_ 627, 230 431, 414 111, 755 311,96,59195,816 642,605 490,199 146i,,046 55,723 10,122 9 625, 230 |430, 625 109, 505 .3,21120|l94,605 638,229 485, 686 146i,,183 53,1121 10,450 629,174 1434, 3271 11100,4,3 443 43 2332,3893194,847654, 0211501, 525 146',,136 55,432 8, 793 23 _ 625, 510 1432, 951 111, 319 3,623L2192,559 645,880 492, < i, 534 55, 743! 8,052 30 _ 631, 678 438,459 110, 898 32',7 5!64 193, 219 654, 791501, 927 147;,301 56, 9761! 5,878 July 630, 803436,600 109, 269 327,331194,203 653, 986 502, i,212 58, 718 8,928 641,964 446,931115,198 331,733 195,033 665,815 515,112145, 839 54, 048 7,347 642, 6971 [445, 768 109, 518 336,250 196, 929 666, 865516, 552J 14"5, ,449 58, 670 7, 910 648, 018 |452, 804 117, 214 335,590 195, 214 669, 382519, 598 14t4, ,920 56, 850! 6,365 Aug. 4_ _ 1646,145 449, 484 114,433 335, 051 196,661 666, 085 514,176 147, 045 4,864 55,548| 9,7i'04 11 _ 645, 998 451, 251 117, 443 333, 808 194, 747 670, 604518, 436 147, 913 4,255 51,728! 2,71'84 18 646, 703l!452, 445 114,1861338, 259 194, 258 670, 235519,123 147, 282 3,830 55,041 3,053 25 _ _ 645, 439 ,450, 982 120, 963 330, 019 194, 457 670, 080c.19, 8681147,300 2,912 55,782 5,436 Sept. 1 641,188 445,273 119,526 325, 747 195, 915 666, 083!514, 512148, 659 2,912 56,9891 5,113 8 639, 299 443, 665 120, 688 322, 977 195, 634 665,315512,927149,476 2,912] 56,282J 6,277 15 _ 644, 934 448, 790 126, 509J322, 281196,144 673, 713•518, 918 149, 344! 5,451 56,389i 6, 773 22__ |634, 623 [437, 234 120,153 317,081 197,389 657,374|502, 871!149, 052 5,451 56,933! 10,897 29__ 637, 237 J440, 331122,191 318,140 196, 906 664,518 509,520149,545 5,453 56,014! 5,469 Oct. 633, 871i|438, 219 121,438 316, 781 195, 652 664,170 509,372!149,345 5,453 55, 915| 4, 048 629, 039 J434, 539 117,314 317, 225[l94, 500 658,304 504,3471149,376! 4,581 54,939! 4' ,6"4'"6 20 - 617, 635 [421, 690 111, 445 310, 245|l95, 945 649, 432497, 574J149, 568 2,290 55, 745 7,454 27 _ 617, 787i 421, 753 109,104 312, 6491196, 034 650, 785499,066:149,77r 1,943] 58,6831 6,861 I I Nov. 3_ 621, 001 1423, 206 111, 190 !3,1 20,16 197, 795 645, 944923,621 1150, 3781 1,943! 53,345' 10,292 619, 612 1421, 541 112,136 310,94,051198,071648,979497, 720 14•9 I; , I607! 1,652! 57,184! 9,310 613, 53li 417,172 108, 560 3!08,, 612 196, 359 636, 644288666, ,4432 149, 038 1,1561 53,584j 14,556 24 _ 614,1041 418,278 106, 281 311, 997 195, 826 635,413486, 841147,531 l,04l! 57,215! H,267 I Dec. 612, 643 |416,885 108, 627 308, 258J195, 758 635, 346828, 256 1461,,065 l,04l! 50,838! 9,133 609, 689 415, 229 112,042 303,187|194,4601632, 054685,611145, 404| l,04l| 53,389, 6,683 613,265 419, 629 115,187 304, 442 193, 6361639, 09449!1,351145,421 2,322 58,823! 10,351 22_ 610, 836 415, 734 113,087 302, 647 195,102 638, 874790,095 146,460 2,322 56,273! 5,577 29_ 609, 575; 1414,495 112, 074 302, 421 195,080 636, 947960,482 144,172 2,322 52,365| 5,141 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS CO [In thousands of dollars] o MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Net demand, time, and Government deposits Reserves Borrowings Month with from Loans Federal Federal Total Total On t s i e e c s uri- All other I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- re b s a e n rv k e re b s a e n r k ve 3 January._. 531,162 441, 062 80,187 360,875 90,100 478, 790 369,154 104, 722 4,914 40,044 31,502 February. 531, 394 428, 295 78, 794 349, 501 103,099 497, 900 378,004 105, 639 14,257 43, 354 18,938 March 528, 521 427, 777 78, 317 349,460 100, 744 502,623 390, 306 104,336 7,981 41, 509 10,449 April 531,056 425, 387 77, 386 348,001 105,669 508, 530 396,521 108,182 3,827 41,486 10,106 May 536, 695 425,165 76,535 348, 630 111,530 525,060 411,942 110,068 3,050 45,112 5,351 June 556, 020 426,454 74, 334 352,120 129, 566 547, 725 425,941 114,559 7,225 46,948 3,439 July 564,295 426, 303 75, 305 350,998 137, 992 559, 583 439,832 115,470 4,281 46, 282 2,542 August.. 567, 968 425, 722 77, 984 347, 738 142, 246 569, 666 4^6,528 116,618 6,520 46,392 2,496 U September - 572, 959 428, 348 79,168 349,180 144,611 573,174 449,781 117,754 5,639 47,833 4,737 W October 582, 495 436, 820 84, 769 352, 051 145,675 574, 440 450, 874 118,423 5,143 48, 795 8,373 > November. 590, 849 444,347 85, 758 358, 589 146, 502 566,385 440, 316 122,291 3,778 46, 782 13,896 December.- 598, 379 449, 356 84, 532 364,824 149, 023 572,678 442, 535 124,261 5,882 48, 622 18,025 1923 January___ 591,034 441,840 85,450 356,390 149,194 580,469 452,867 124, 381 3,221 48, 327 10, 336 03 February. 595, 959 447, 569 86.967 360, 602 148, 390 592,016 465, 686 125,117 1,213 50,485 5, 611 March 600,877 450, 560 86; 821 363,739 150, 317 590, 720 463, 665 124,609 2,446 49,247 11,463 April 600,188 448,920 86,112 362,808 151,268 585,197 452, 971 126,052 6,174 48, 530 16,631 May 599,515 448,180 86,085 362, 095 151, 335 571,996 437, 696 128,570 5,730 48, 271 26,923 w June 599,174 447,224 86,196 361,028 151, 950 563, 965 428,486 132,070 3,409 46,389 32, 742 o July 599, 801 448, 744 86,112 362,632 151, 057 564,240 428, 846 133,127 2,267 48, 382 34, 524 August.. 601, 604 446, 553 87, 662 358,891 155,051 576, 373 441,879 132,839 1,655 47,908 25,002 September. 594,996 444,281 88, 853 355,428 150, 715 571, 908 435,159 134,883 1,866 47,057 27,650 October 592, 062 443, 149 88, 671 354,478 148,913 552, 366 416,055 134,427 1,884 44,877 38,058 November. 577,034 435, 263 87,066 348,197 141,771 532, 695 398,347 133, 500 848 43,652 42,006 December_. 570, 796 431,353 86,045 345,308 139,443 532, 270 399,002 132,155 1, 113 44,282 39,479 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1924 January .. 557,167 422,012 88,254 333, 758 135,155 529,071 396,472 130,952 1,6.7 43,930 25,080 February 544,192 415,842 88, 392 327, 450 128,350 531, 913 399, 740 130, 672 1,501 45,005 14,620 March.. 543,113 417,314 92, 624 324, 690 125, 799 543, 735 409,417 131,637 2,681 45,093 9,353 April 538,098 413,519 91,663 321, 856 124,579 531,162 396, 348 131,149 3, 665 42,952 10,097 May 536,269 410,753 91,416 319, 337 125,516 533, 730 398,341 132,860 2,529 45,351 9,685 June. 531,496 406, 000 89, 868 316,132 125,496 535, 272 399,025 134, 764 1,483 46,308 8,409 July 530, 910 401,277 85, 719 315, 558 129, 633 548, 873 413,143 134, 560 1,170 48,003 2,498 August 535, 294 402, 373 85, 699 316,674 132,921 558, 682 421, 960 135, 699 1,023 48,098 1,021 September 549,449 407, 997 88, 381 319, 616 141,452 576, 776 438, 827 135, 624 2,325 48,402 726 October . 564,746 413,781 87, 755 326, 026 150, 965 599, 378 461,263 134,279 3,836 49,822 600 November 577, 222 420, 358 90, 492 329, 866 156,864 611,841 473, 361 135,350 3,130 54,275 549 December 586, 787 430,159 96, 776 333,383 156,628 612,933 475, 730 135, 371 1,832 54,011 208 1925 January 597,873 435, 980 102,802 333,178 161,893 623, 373 486, 246 136,048 1,079 53,644 186 February 609, 215 446, 554 107, 715 338,839 162, 661 633, 293 494,935 137, 616 742 55,644 421 March ._ ... 620, 203 454,886 119,067 335, 819 165,317 642, 962 501, 698 137, 360 3,904 54,603 332 April 610 892 441,646 122, 101 319,545 169, 246 629, 807 486, 237 137, 547 6,023 53,909 2, 595 May. 596, 076 < 27,047 109, 167 317,880 169, 029 609, 929 468,183 137, 860 3,886 51, 652 2,208 t o zj June _ 597, 724 427, 333 106, 579 320, 754 170,391 618,181 478,077 137, 807 2,297 52, 345 1,344 July 615,388 444,986 119,745 325, 241 170, 402 637, 552 496, 989 139, 690 873 52,677 1, 319 August . 632, 640 458, 345 124, 367 333,978 174,295 654,911 513,793 140, 584 534 55, 793 2,039 September ._ -. 621, 602 444,696 115,381 329,315 176, 906 641, 780 501,175 139,146 1,459 54,047 3, 827 October 607,438 434,000 111, 139 322,861 173,438 627, 505 479,016 146, 990 1,499 52, 336 5, 906 November 608 245 438, 075 114, 175 323, 900 170, 170 618, 031 469,157 148,140 734 52,010 10, 206 December 611,785 440, 660 114,849 325,811 171, 125 628, 562 484,207 142, 777 1, 578 54,180 10, 333 1926 January 614,082 437, 999 117,466 320, 533 176, 083 637,441 490,102 145, 558 1,781 56,420 8,570 February . __ 622 509 441,712 118, 555 323,157 180,797 641,054 494,613 143,875 2,566 55,085 8,543 March 625, 953 436,994 113,871 323,123 188,959 641,978 485,449 149,247 7,282 52,044 9,412 o April 617,669 425,421 105,282 320,139 192,248 631, 998 476,150 146, 647 9,201 53,507 11,735 May 622, 947 428,416 109,158 319, 258 194, 531 641,065 487,467 146,464 7,134 54,657 10, 777 M June 627, 764 433,555 110,782 322, 773 194, 209 647,106 494,465 146,440 6,201 55,397 8,659 l July 640, 871 445, 526 112, 800 332, 726 195, 345 664,012 513, 436 145, 605 4,971 57,071 7,637 August . _ 646,071 451,040 116, 756 334, 284 195, 031 669,250 517, 900 147, 385 3,965 54,525 5,244 September 639,455 443,058 121,813 321,245 196, 397 665,401 511, 750 149, 215 4,436 56.521 6,906 October 624, 583 429,050 114,825 314,225 195, 533 655,672 502, 590 149, 516 3,566 56,320 5,752 November 617,063 420,050 109, 542 310, 508 197,013 641, 741 491,154 149,139 1,448 55,332 11,356 December __ _ _ ._ 611,201 416, 394 112,203 304,191 194,807 636,473 489,159 145, 504 1,810 54,338 7,377 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN KANSAS CITY—PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS CO [In thousands of dollars] to Net demand, time, and Government Loans and investments deposits Reserves Borrow- Date (Wednesday) Total Total c L O u o r n a i t n s ie e s s - All other I m nv e e n s t t s - Total de N m e a t nd Time G m ov e e n r t n- F re b e w s a d e i n e r th r v k a e l in F r g e b e s s a d e n e f r r r v k o a e m l D ba u n e k t s o b f D a ro n u m k e s 1926 Jan. 6 178, 244 130, 840 29,083 101,757 47, 404 184, 079 157, 790 25,434 855 17, 668 1,038 108, 768 53,477 13 174, 089 124, 959 33, 048 91,911 49,130 184, 101 157,877 25, 432 792 16,402 2,882 105, 229 43,517 20 185, 563 136, 483 35, 010 101,473 49, 080 184, 298 162, 383 21,123 792 18, 527 6,158 105, 696 44, 067 27 181, 082 129,530 29, 579 99,951 51, 552 183,144 160, 775 21, 577 792 17, 409 1,890 101, 204 41, 208 Feb. 3 179, 747 128, 195 28, 437 99, 758 51,552 182, 146 164, 327 17,027 792 17,455 1, 568 104, 072 43, 027 10 183, 632 132,426 33,319 99, 107 51,206 186,897 166, 043 17,062 3,792 16, 901 4, 366 105, 551 42,179 17 183,104 131,652 33,414 98, 238 51, 452 181,124 163, 203 17,129 792 16, 511 4,830 103,198 42, 461 24 181,761 130, 528 32, 598 97,930 51, 233 180, 078 161, 951 17, 335 792 18, 462 6,743 99, 331 39,102 Mar. 3 181,994 128, 297 31,021 97, 276 53, 697 180, 804 162, 616 17, 396 792 17,178 10, 689 100, 463 41, 753 10 174,716 125,369 29, 164 96, 205 49, 347 172, 265 154, 058 17,415 792 13,915 2,165 96, 948 40, 306 17 184,602 127,311 29, 636 97, 675 57, 291 184, 654 156, 267 17,519 10,868 17, 237 3,987 95, 099 40,325 24 181, 762 122, 705 22, 827 99,878 59, 057 178, 405 151, 964 17, 697 8,744 15, 292 6,912 89,002 37,836 31 177, 975 121,950 24, 599 97, 351 56, 025 178, 468 152, 014 17, 710 8,744 15, 866 1,856 88, 724 39, 252 Apr. 7 177, 335 120, 915 23, 491 97,424 56, 420 179, 008 152, 477 17, 787 8,744 17,429 1,947 92, 561 39, 057 14 179, 247 122, 500 26, 002 96, 498 56, 747 180, 685 154, 277 17, 664 8,744 17, 218 1,909 91, 204 36, 242 21 176, 863 121, 284 25,123 96,161 55, 579 174, 460 149, 275 17, 993 7,192 15, 898 4, 458 89,889 38, 990 28 175, 027 118,841 21, 635 97, 206 56,186 172, 291 147, 043 18, 056 7,192 15, 075 3,266 90,374 39, 201 May 5 177,470 121,329 23,303 98,026 56,141 176,097 151,183 18, 010 6,904 16, 571 3, 510 94,174 48,317 12 185, 414 128, 583 30, 931 97,652 56,831 183,420 158, 943 17,919 6, 558 15, 771 3,162 93, 764 38,905 2 1 6 9 1 1 9 8 0 8 , , 8 94 7 6 3 1 13 3 1 2 , , 1 7 4 7 5 0 3 32 3 , , 5 95 2 4 0 9 9 8 9 , , 1 2 9 5 1 0 5 58 7 , , 8 1 0 0 1 3 1 1 9 9 5 1 , , 0 26 4 3 8 1 16 7 7 1 , , 2 6 5 3 8 0 1 1 8 8 , , 1 0 2 5 3 0 5 5, , 5 7 1 4 0 0 2 1 0 7 , , 9 5 9 2 4 5 3 3 , , 3 0 5 8 1 8 9 88 0 , , 3 2 0 6 2 5 3 34 6 , , 3 5 7 4 8 9 June 2 189, 565 131,386 32,917 98,469 58,179 188, 254 164, 660 18, 084 5,510 18, 515 4,319 93,825 39,445 9 187, 912 131, 606 33,296 98,310 56, 306 183,330 159, 644 18,176 5, 510 15,322 4,534 99,182 33,188 16 190,965 132,378 35,323 97,055 58, 587 190, 605 166, 952 18,143 5,510 18, 095 4,376 92,407 38,901 23 189, 484 130, 210 34, 915 95, 295 59, 274 189,332 165, 657 18,165 5,510 17, 855 5,266 89,076 37,488 30 191,067 131,697 33, 601 98, 096 59, 370 190, 261 167,309 18,133 4,819 19, 952 4, 839 93, 855 40,135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

192, 004 132, 557 32,800 99, 751 59,447 190,950 168, 068 18, 302 4,580 16, 795 5,826 106, 057 46, 361 14.. 195, 021 135, 434 33,910 101, 524 59,587 194,510 171, 942 18, 354 4,214 17, 722 5,363 108, 452 48,100 21.. 193,247 133,187 29, 226 103,961 60,060 194,361 171,851 18, 296 4,214 19,310 5,119 108, 498 46, 255 28.. 194, 617 134, 541 31, 595 102, 946 60, 076 196, 286 173,779 18, 293 4,214 18, 936 2,868 112,112 47, 241 Aug. 4.. 198, 729 138, 004 34,401 103, 603 60, 725 196,189 172, 639 19, 336 4,214 17, 445 7,631 117,392 51,343 11.. 196, 281 136, 793 35, 410 101,383 59,488 195, 496 172, 599 19, 212 3,685 14,471 2,332 113, 226 48, 761 18.. 194, 790 136, 016 35, 294 100, 722 58, 774 196, 606 174, 049 19, 239 3,318 17, 495 2,624 109, 523 44, 683 25.. 192,907 134, 281 35, 983 98, 298 58, 626 192,453 170, 741 19,191 2,521 17,483 3,958 101, 856 43, 002 Sept. 1.. 187,999 128, 994 33,085 95, 909 59,005 189, 509 167, 751 19, 237 2, 521 17, 957 4,285 101, 429 48, 031 8.. 186, 837 128, 696 34,316 94,380 58,141 187, 697 166,084 19,092 2,521 15, 837 3,676 109,450 49,236 15.. 190, 254 131, 539 38,797 92, T42 58,715 194,087 170,320 18, 953 4,814 19, 673 3,769 107, 641 44, 394 22.. 185,786 126, 422 34, 929 91, 493 59, 364 184, 831 161,121 18,896 4,814 17, 729 6,299 99, 883 42, 200 29.. 189, 209 129, 832 36, 529 93, 303 59,377 194, 020 170, 270 18, 934 4,816 18,399 1,076 100, 268 40, 783 Oct. 6.. 186, 984 129, 217 37, 358 91, 859 57, 767 190, 581 166, 773 18, 992 4,816 17, 334 101, 343 42,115 CO 13. 181, 239 124,647 32, 499 92,148 56, 592 186, 754 163, 780 18,913 4,061 18, 202 98,942 44,180 ^ 20. 170, 724 113,892 27,158 86, 734 56,832 180, 707 159,645 18, 996 2,066 18,188 1,260 97, 234 43,366 p 27,. 171, 087 113, 976 24,467 89, 509 57,111 182,144 161, 534 18, 855 1,755 18, 355 1,158 96,132 44,955 O Nov. 3. 174, 342 116, 641 28, 592 88, 049 57,701 180,194 159,476 18,963^ 1,755 14,058 2, 239 101, 529 49,209 10. 174, 055 116, 726 30, 009 86, 717 57,329 183, 671 163, 374 18, 805 1,492 17, 186 1,632 95, 859 59,175 tzj 17. 167,408 111,841 25,011 86,830 55, 567 172,300 152, 420 18, 835 1,045 15, 755 4,556 99,995 51,034 O 24. 164, 800 110,017 24,122 85, 895 54, 783 171,431 153,219 17, 272 940 17, 791 4,138 90, 768 42, 447 T Dec. 1. 164, 772 110, 078 24, 700 85, 378 54, 694 173, 844 156, 657 16, 247 940 14, 949 91, 488 43,126 8. 166,072 112,945 27,044 85,901 53,127 174, 035 157, 295 15,800 940 16, 246 1,152 94,654 41, 508 > 15. 164, 986 112,229 25,611 86, 618 52, 757 173, 301 155, 739 15, 541 2,021 18, 307 3,196 96, 570 45, 355 22. 163,651 110,298 24,165 86, 133 53,353 173, 949 155,345 16, 583 2,021 18, 003 1,506 102,132 46, 014 29. 163, 722 110, 389 25,103 85, 286 53, 333 173,481 155, 783 15,677 2,021 16, 821 638 98,439 42, 662 > QQ O M CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

434 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note, see p. 181] Total for 15 centers i Albuquerque, N. Mex. Month 1926 1925 1926 1925 1924 January 1,232,003 1,222,375 1, 013, 580 10, 739 11,016 9,821 February. _ 1,048, 243 1,032, 506 947,449 9,422 8,395 9,518 March 1, 218,619 1,178,117 1,029, 857 9,683 8,416 April 1,161,433 1,119,651 1,021, 892 9,826 8,841 9,002 May.. 1,132, 882 1,098,468 1,009, 791 10, 038 9,264 9,555 June 1, 225,456 1,221,721 973, 800 10,711 10,-980 10,304 July 1,416, 650 1,251,667 1,081,409 11,408 10, 658 10,425 August 1,254, 596 1,184,075 1, 093,260 10,603 10,248 9,342 September. 1,249, 597 1,163, 914 1,105,437 10, 399 9,194 8,264 October 1,314, 732 1, 278, 302 1, 228, 651 12, 677 11, 949 11, 844 November. 1, 239,058 1,139, 529 1,073, 774 13, 664 11,447 10, 884 December.. 1, 330, 689 1,302, 807 1,199, 754 12, 490 11.074 10,396 Total 14, 823,958 14,193,132 12, 778, 654 131,660 121,482 118,339 Atchison, Kans.* Bartlesville, Okla. Casper, Wyo.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 7,266 5,937 16, 629 12,782 , 8,981 9,665 13, 098 14,376 February.. 5,950 6,076 5,629 14,146 12,079 9,623 8,012 11,241 11, 793 March 6,924 6,943 6,155 19, 581 18,951 12,457 8,810 11, 673 11, 840 April 6,119 6,210 5,831 19, 819 13,109 10, 203 9,340 12, 599 12,040 May 5,922 5,720 5,618 17,934 13, 918 12, 372 10, 648 14, 749 13, 752 June 6,708 6,471 5,616 20,395 19, 818 14, 546 11,586 14, 835 13, 269 July 7,101 6,538 6,720 24, 614 16, 741 14,565 10, 534 14,671 14,960 August 5,994 6,698 7,052 21, 703 17, 277 15, 582 9,386 13, 900 12, 550 September. 6,116 5,772 6,203 20, 029 15, 765 14,395 10, 528 12, 631 14,150 October... 6,363 7,255 6,421 23,719 16,212 10, 699 11,140 13,126 18,471 November. 5,956 6,305 6,054 26,411 14, 232 11,720 10, 518 10, 683 16,027 December . 26, 363 21, 743 15,480 10, 864 11,235 14, 583 Total 76, 770 77, 952 74,042 251,343 192,627 150,623 121,031 154,441 167, 811 Cheyenne, Wyo.* Colorado Springs, Colo. Denver, Colo. Month 1926 1925 1924 I 1926 1925 | 1924 1926 1925 1924 January 6,045 6,726 10,633 13, 972 15,798 12, 504 174,958 183, 608 159,961 February. _. 5,332 5,542 8,551 11,125 12, 425 12,162 152, 526 153,429 146, 341 March 6,681 7,316 9,481 14, 626 14, 368 13, 206 177, 730 170,415 176, 780 April 5,831 6,486 8,901 13, 726 13,141 12,135 175,163 175,935 168, 635 May 5,978 8,518 12, 926 14,017 11,777 163, 087 170, 321 154,249 June 5,884 7,252 9,137 15, 740 17,897 11,708 174,128 186,014 153, 272 July 6,432 8,054 7,892 16,619 16, 879 13,051 202, 555 173,713 162, 820 August 6,492 7,128 8,683 16,469 16, 675 13,749 175,561 174,362 165,612 September. 6,610 7,141 8,518 16, 639 15, 880 13,184 196, 231 178,132 165,938 October 8,518 9, 736 9,965 16, 922 16, 390 13, 859 204, 364 201,012 183,552 November. 7,979 8,341 9,223 i 15,811 15, 526 12, 945 172,411 173,524 160,478 December.. 8,051 7,896 9 y , , 0 u 7 / 6 o i 1 1 1 6 0 , ,0 ^ 8 - 2 4 4 1 1 1 6 0 , , t 4 u 0 z 2 1 1 4 4 , , 3 o 9 \u 7 1 r 9 v 0 u , , z 2 i/ 1 io 8 y 9 , , u 0 o 6 o 5 179,857 Total 79,943 0 0 / 7 , c r 108,578 I 181,399 | 185,398 j 154,677 J2,158, 931 2,129,530 1, 977, 495 Enid, Okla.* Fremont, Nebr.* Grand Junction, Colo.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 12, 749 9,819 3,435 3,658 3, 277 3,191 3,250 2, 594 February 14, 807 8,857 3,161 2,973 2,901 2,601 2, 534 2,302 March _ 13, 734 9,471 4,322 4,078 3,446 3,451 3,089 2,891 April 12, 692 10, 722 3,835 3,464 3,511 3,258 3,089 2,635 May 14, 697 10, 344 3,784 3,748 3,526 3,339 2,958 2,821 June -__ 14, 986 10, 531 4,027 3, 887 3,269 3,383 3,053 2,749 July I 30,892 19,850 17,165 4,085 4, 250 3, 450 3,473 3,083 2,720 August i 20, 669 14, 749 15,837 3,452 3,300 3,188 3, 252 3,350 2,953 September.... i 17,103 13,818 13, 728 3,723 3,688 3,321 3,827 3,837 3,645 October.. | 15,226 14, 598 14, 305 3,642 3,756 3.730 4,336 4,401 4,211 November 14,596 14,095 12, 742 3,464 3,190 2, 957 4,218 4,198 3,590 December... _ 16,746 17,093 13,286 3, 958 3, 586 2,886 3, 955 3,973 3,715 Total ! 201,866 17 146,807 I 44,888 | 43,558 39,462 42,284 I 40,185 1 Figures for cities marked with an asterisk (*) are not included in the district summary or in the national Digitized fosru FmRmAaSryE oRf 141 centers. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 10 KANSAS CITY 435 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Guthrie, Okla.* Hutchinson, Kans.* Independence, Kans.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 3,747 3,313 3,461 13,154 16,407 10,085 10, 735 10,458 7,772 February... 3,518 3,243 3,016 11,090 14,899 9,235 8,867 9,213 7,721 March 4,036 3,500 3,029 11,368 13,486 8,234 10, 754 9,764 8,797 April 3,409 2,986 2,663 10,450 6,703 9,074 10, 730 8,334 May 2,997 2,838 3,190 10, 277 0) 10,855 9,592 8,804 June 3,385 3,086 2,873 16,593 U, 835 0) 12,375 11,221 8,950 July 3,746 4, 748 3,145 42,982 19, 956 0) 12,457 11,804 9,361 August 3,143 2,842 2,456 16, 513 17,689 10,316 10,847 6,975 September.. 3,522 3,395 2,785 1' 12,588 18,557 11, 220 10, 539 8,330 October 3,875 4,610 4,200 20^564 13,689 18, 882 10, 931 11,347 7,751 November.. 3,611 4,051 3,497 15,441 14,116 14,845 11,516 9,270 8,044 December.. 3,621 4,449 17,320 15,343 16, 068 12,132 10, 702 9,115 Total 42,610 43,061 37,994 213,410 174,953 120,298 131,232 125,487 99,954 Joplin, Mo. Kansas City, Kans. Kansas City, Mo. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 20, 886 18, 699 13, 912 18, 930 20,395 19,425 386,055 369, 795 312. 956 February._ 18,081 15,748 14,164 18,245 17,642 18,480 322,340 319, 227 292,334 March 19,450 16, 864 15, 768 20,401 19,014 19,190 361,113 367, 593 302,200 April 20, 285 16, 804 15, 890 20, 233 19, 558 19,043 351,413 352,484 302,981 May 16,077 15,173 13, 964 19, 242 19,070 19, 608 350, 220 336, 553 301,202 June 17,066 17,319 12, 510 21, 469 20,685 19,425 368, 250 370, 746 285,260 July 17,988 16, 281 12, 776 22,495 22, 840 22,172 478,162 410, 875 343, 600 August 17,187 16, 663 13, 847 19, 789 18,674 19,152 416, 918 384, 804 370, 572 September. 18, 760 18,601 13,949 20,372 19,392 18,419 394,951 365,025 376,348 October 18, 898 18, 901 15, 941 20, 452 20,142 20, 757 415, 453 410, 806 409,473 November-. 17, 898 18, 464 14,376 20, 081 19, 469 17,517 382, 604 370,126 355,566 December.. 19, 025 20, 869 15, 882 22, 970 20,274 20,370 405,306 406, 634 383, 256 Total 221,601 210,386 172,979 244, 679 237,155 233,558 4,632,785 14,464,668 4,035, 748 Lawrence, Kans.* Lincoln, Nebr.* McAlester, Okla.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 5,087 5,276 4,610 33.143 31, 882 4,993 5,359 4,939 February... 4,937 4,919 4,137 28, 925 30,158 23,801 4,305 4,537 4,553 March 5,457 5,461 4,502 35, 698 34, 390 28, 682 4,384 4,020 4,027 April. 4,956 5,054 4,354 34, 964 30, 996 26,125 4,019 3,769 4,431 May 4,677 4,934 4,578 33,512 32,130 27, 241 3,900 3,589 4,169 June 5,488 5, 645 4,710 33, 927 32, 419 26, 291 4,421 4,054 0) July 6,177 5,822 4,648 34,635 32, 397 29, 543 4,103 3,708 0) August 5,266 5, 009 4,244 30, 735 29, 443 27, 734 3,707 3,552 C1) September.. 4,998 5,125 4,484 31, 765 32, 573 28, 606 4,399 4,977 (0 October 5,597 5, 968 5,569 33, 349 32, 909 30,863 5,132 6,119 0) D N e o c v e e m m b b e e r r . . . . 5 5 , ,9 3 3 6 6 8 5 5 , , 1 9 3 2 8 2 4 5, , 8 5 4 6 2 6 3 33 0 , , 6 76 9 7 5 3 33 0 , , 3 5 2 6 6 3 2 2 5 9 , , 6 4 0 9 6 7 4 5 , , 7 0 6 9 1 2 5 6, , 0 2 7 7 4 5 5,112 5,007 Total 63,944 64, 273 | 56, 244 395,115 383,186 303, S 53, 216 55,033 32, 238 Muskogee, Okla. Oklahoma City, Okla. Okmulgee, Okla.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 14, 518 17, 390 13, 929 101, 839 89, 089 69, 709 11, 673 10, 971 7,281 February... 12, 077 11,454 11,417 84, 583 76, 008 64,596 10, 519 11,643 6,578 March 12,080 12, 203 11, 700 95, 558 89, 591 66,895 13, 408 12, 368 7,244 April 11,199 11,315 11, 202 88, 403 82, 987 68, 600 13, 204 11,971 8,021 May 10, 099 11,279 11,657 86, 944 85,050 72, 991 11,886 10,404 8,194 June 10, 798 11, 636 10, 569 95, 668 85, 585 70, 084 12, 742 11, 655 8,093 July 12, 270 11, 640 11, 533 99, 539 87, 564 73, 976 13,308 10,099 7,929 August 10, 569 10,174 9,807 90, 445 77, 728 70,161 11, 668 9, 627 7,240 September.. 11,528 12, 329 10, 044 95, 059 80, 566 76,958 10,062 10,101 7,294 October 13,115 16, 041 16, 434 95, 820 92,817 95, 208 9,615 12, 376 8,104 November.. 12, 704 13,481 15, 080 94, 352 88, 523 85, 497 9,790 10,178 7,674 December.. 14, 484 14, 675 17, 329 106,129 100, 707 98, 579 11,647 12, 910 9,582 Total I 145,441 153,617 150,701 1,134,339 1,036,215 j 913,254 I 139,522 134,303 93, 234 * Comparable figures not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

436 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Omaha, Neb. Parsons, Kans.* Pittsburg, Kans.* Month 1926 1925 1926 1925 1924 1926 1925 1924 I January 191,189 214, 829 174,277 3,627 3,252 3.032 6, 651 6,352 6,054 February... 179, 340 185. 459 163, 578 2,930 2,607 2,426 6,167 6,311 5,735 March 218, 827 209, 05? 188, 711 3,285 3,160 2,778 6,217 5,639 April 190. 357 182, 605 3,064 2,985 3,004 6,193 5,757 5,349 May. 193, 724 197,108 178, 799 3,031 3.081 6,096 5,757 5,476 June 206, 523 211, 739 173, 035 3,702 3,412 2,993 6,200 5.224 July 215, 075 210,835 180, 648 4,085 3,562 3.323 6. 6.422 5,544 August 210, 732 206, 507 189, 407 3,174 3,006 3,146 6,186 5,815 5,527 September. 188, 522 204, 073 198, 716 3,179 2,960 2,890 6.289 5,991 5,202 October 207, 483 216, 741 213, 490 3,285 3,392 3,220 6, 724 6,336 6,175 November. 187, 633 184. 315 172, 474 3, 254 3,003 2,731 6,763 6.320 5,300 December.. 193, 909 206, 048 191, 062 3,493 3,617 3,151 7,935 7,662 6,164 Total 2, 386, 855 2, 437, 068 2, 206, 802 | 40,109 37, 854 35, 775 78, 857 75,140 67, 389 Pueblo, Colo. St. Joseph, Mo. Topeka, Kans. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 19, 557 21, 332 18, 414 67, 266 77, 324 66, 409 18, 075 22, 546 17,212 February.. 14, 255 16, 392 19,104 55. 472 58, 205 55, 552 15, 302 17. 426 14, 704 March 16, 850 21, 028 15, 477 63, 660 62, 287 59. 997 19,005 17, 384 14, 892 April. 17, 972 21,310 19, 839 55, 582 54, 737 59,134 18, 374 17. 024 15, 912 May. 16,174 18, 343 17, 325 60, 335 55,105 67, 062 15, 623 15, 209 14, 293 June_. 19, 644 20, 270 17, 773 65, 605 64,900 56,181 17, 878 17, 423 14, 834 July 19,511 20.064 19, 621 66, 931 63. 486 55, 019 19, 637 18, 453 16, 517 August 16,611 19,184 15, 740 59,198 62, 734 58, 553 16,215 17, 375 15,923 September. 18, 782 16, 924 15, 325 61, 251 55, 514 56, 718 17. 825 15, 754 14, 503 October 22,026 20.065 21, 691 64, 676 62, 873 67, 252 17, 823 19,145 17, 621 November- 37, 908 23, 266 27, 581 61. 930 56,151 58.119 17, 095 15, 409 13, 342 December. 27, 931 27, 999 24, 347 66, 519 68, 522 70, 414 19,034 18, 344 15, 347 Total 247, 221 246,177 232, 237 748, 425 741, 838 730, 410 211, 886 211,492 185,100 Tulsa, Okla. Wichita, Kans. Month 1926 1925 1924 1926 1925 January 127, 881 89, 010 74,353 49,509 58, 762 41,717 February.. 101,007 86, 508 78, 890 40,322 42,109 36, 986 March 124, 717 108, 562 87,180 45, 338 42,384 36,420 April 122, 753 102,004 88, 681 42, 787 40,045 38, 030 May _- 119,923 98, 743 90, 905 40, 536 39, 315 34,032 June _. 127, 817 116,000 88, 536 53,764 50, 709 35, 763 July... 136, 705 114, 987 90, 564 73,141 56. 651 54,122 August 122, 767 106,412 78, 039 49, 829 45, 2o8 47. 774 September. 131,384 110,579 74,864 47,865 46,186 47, 812 October 132,590 107, 266 81, 979 48, 714 47, 942 48,851 November _ 127, 624 95, 759 78,109 50, 932 39, 837 40.086 December. _ 156, 665 132, 845 96, 953 52, 823 47,606 46,085 Total 1, 531, 833 I. 268, 675 1,009,053 595, 560 556,804 507,678 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 10 KANSAS CITY 437 No. 16.—MONEY RATES IN KANSAS CITY, DENVER, OKLAHOMA CITY, AND OMAHA [Rates prevailing during week ending with 15th of month] KANSAS CITY Loans secured by- Month m l P o c e r a o i r n m m c s i - e a 2 l I l b n o a t a n e n k r s - c p h r a i n m g e e s c t o o l c l k at e e x ra - l b s y L h e c o o w u u a r a s n e r e s d e- C lo a a t n tl s e Demand Time receipts 1926 January -. 434-6 5 -6 5 -6 5 -6 6 -7 February 434-6 5 -6 5 -6 5 -6 5 -6 6 -7 March - 5 -5} 5 5 -6 5 -6 5 -6 53^-7 April 5 -5} 5 -6 5 -6 5 -6 53^-7 May - 4345^ 5 -6 6 -7 June 3 5 -53> 35 -6 5 -6 6 -7 July..- I-P 3 5 -6 5 -6 6 -7 August 3 5 -6 5 -6 6 -7 September 5 -6 5 -6 6 -7 October _ 5 -J 5 -6 5 -6 6 -7 November 5 -5H 5 -6 5 -6 6 -7 December 5 -r ' 5 -6 5 -6 6 -7 5 -J DENVER 1926 January 6 February March April May June July August September October November December SO SO 6 6 -6H 6 -W>. 434-6 6 6 6 5 -6 6 SO SO 6 6 CO CD CO 5 -6 5 -6 6 6 5^-6 53^-6 6 -8 6 534-7 534-7 534-8 6 53^-6 5^-6 5^-8 6 534-6 534-8 534-8 6 6 6 6 6 fjVZg fi «£3 6 5K-6 6 -6K 5 -7 5 -7 6 5^-6 534-6 5H-8 coeocc -7 -7 -8 -8 -7 -7 -7 -7 -7 -7 6 -S 6 -8 OKLAHOMA CITY 1926 5 February 6 March f> 51 May June July September October November December SO SOSO SO -7 6 -7 -7 6 -7 -7 6 -7 4-7 6 -7 6 6 6 6 -7 6 -7 6 -7 -7 5 -6 5 -6 COCO 6 6 6 -7 8 6 6 6 -7 6 -S 6 6 6 -7 q 6 6 6 -7 7 6 6 6 -7 6 -8 6 6 6 6 -S 6 6 -7 6 6 -8 6 6 -7 6 -8 6 -S 6 6 -7 6 6 -8 6 6 -7 6 6 -S 6 6 6 -7 6 7 -8 6 6 6 -7 6 7 -8 OMAHA 1926 January 5 -6 February.- 6 6 -7 March 7 April 6 -7 May 6 6H-7 June.- 534-6 534-6 5 -6 8 July - 6 -7 53^-6 534-6 5 -7 7 -8 August 6 5K-6 534-6 5 -6 8 September 5 -6 534-6 53^-6 5 -6 7 -8 October 5 -6 53^-6 5 -6 November... 53^-6 5 -7 December 4M-6 53^-6 5 -7 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. * The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans " without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. Digitized for F^RReAvSisEedR. 38494—27 29 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 11.—DALLAS Xo. 1.—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31* 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent 38,488 24,269 37,186 25,814 Gold redemption fund with United States Treasury 2,609 2,351 1,978 2,252. Gold held exclusively against Federal reserve notes 41,097 26, 620 39,164 28,066. Gold settlement fund with Federal Reserve Board 19,090 12,102 18,033 12,339 Gold and gold certificates held by bank 8,448 11,398 9,065 11,904 Total gold reserves 68,635 50,120 66,262 52,309 Reserves other than gold 8,137 5,749 8,948 6,015 Total reserves 76, 772 55, 869 75,210 58,324 Nonreserve cash _. 2,548 2,593 2,508 2,866 Bills discounted: Secured by United States Government obligations 1,594 1,924 246 550 Other bills discounted 3,178 2,083 2,467 8,322 Total bills discounted 4,772 4,007 2,713 8,872 Bills bought in open market 15,927 28, 871 26,197 49, 438 United States Government securities: Bonds ._ 3,738 6,949 3,273 Treasury notes _ _ 3,813 17,236 16,998 4^575 Certificates of indebtedness . 15, 788 7,644 5,226 325 Total United States Government securities 23,339 31 829 25 497 6,680 Foreign loans on gold 273 228 Total bills and securities 44,038 64,980 54,635 64,99a 5 per cent redemption fund, Federal reserve bank notes 28- Uncollected items 28,215 27,906 30, 999 23, 652 Bank premises . . 1,756 1,793 1,833 1,911 All other resources ._ 358 1,192 •• • 1, 793 3,248 Total resources __ 153, 686 154,333 166,978 155,019 LIABILITIES Federal reserve notes in actual circulation 48,803 47 437 55 641 52 802 Federal reserve bank notes in circulation—net 471 Deposits: Member bank—reserve account... 62,898 66, 203 65, 828 58,115 Government 1,257 776 1,665 2,679 Foreign bank _.__ 985 289 70 58 Other deposits 61 95 154 483 Total deposits 65,201 67,363 67,717 61,335 Deferred availability items 26, 781 26, 616 31,219 26,929 Capital paid in 4,302 4,267 4,131 4,192. Surplus 8,215 7,615 7,592 7,577 All other liabilities ._ 384 1,035 678 1,713 Total liabilities 153, 686 154,333 166,978 155,019 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 67.3 48.7 61.0 51.1 Contingent liability on bills purchased for foreign correspondents 1,976 2,462 1,622 684 438 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTBICT NO. 11 DALLAS 439 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Fed- Mem- eral Date T r s b a i e o t i n c i l t d e l u a s s - l Total c U G e u S b . r o r e y n - e v S - d - . c O b d o t i i u s h l - l n e s r t- b o m o B k p u i i a e n l e g t r l n s h - t U s S e t n t c i a i e u t t s e r e i s d - l g e F o o i o a o g n l n r n d - s s T c e r o a r e v s t - h a e l s b p s a o e b d r n e e r s e - - v i k r t e s s' p T o o d s t e i - a t l s s n c e c o u r i e r i n t l - r v a e - e - s s c p R e a e e r g e n - r v e t - e ment ed tion obligations 1926 Jan. 6 68,551 8,317 2,419 5, 27, 797 32,174 263 49,057 61,130 62,150 46,599! 45.1 13. 64, 208 7,560 1,622 5,938 24,283 32,120 245 50,738 61,381 62, 766 44,214 47.4 20.... 60,326 6,686 972 5,714 19, 922 33,490 228 51,682 59,378 60,680 43,104 49.8 27 57,609 7,463 1,039 6,424 17,532 32,386 228 54,206 60,970 62. 256 41,086 52.5 Feb. 3.... 53,026 6,161 1,428| 4,733 15,690[ 30,951 224 j 58,91461,627 i 62,71540,67o! 57.0 10.... 51,449 5,037 578 4,459 16,083! 30. 074 255; 59,858 61,435 62,638 40,010' 58.3 17. 53, 63" 5,464 709 4,755 16, 696 31, 232 245 61,959 65,050 66,478 39,492 58.5 24.... 53, 007 5,730 474 5,256 16, 596 30,432 249 58,370 61,400 63,211 39,435 56.9 Mar. 3... 50,601 6,644 827 5,81 14,194 29,458 305 61,565 58,703 60,086 39,338 61.9 10.... 54,123 6,705 742 5,963 13, 723 33, 387 308 53,990 60,013 61,167 38,508 54.2 17 41, 85" 6,571 888 5, 12,082 22,934 270 65,859 58,582 59,276 37,649 67.9 24. 45, 979 7,034 1,972 5,062 10,704 27,968 273 66,171 59,488 65,243 36,973 64.7 31.... 46,028 5,648 1,254 4,394 9,552 30,541 287 62,477 56,557 j62,093 36,592 63.3 Apr. 47, 811 6, 245 1,527 4,718 10, 546! 30, 712 308 60,309 58,905 62, C63 37,071 60.8 14.. 49,315 5,785 1,190 4,595 10, 747 32,478 305' 57,374 58, 784 60,645 36,163 59.3 21. 51, 559 7,349 6,051 10, 740 33,165 305' 54, 366158,383 60,193 36, 473 56.2 28-. 52, 927 9,584 M07 8,077 9,781 33,278 284| 50,046 56,303 57,472 35, 721 53.7 May 5-. 52, 231 9,976 1,795 8,181 8,654 33,339 262! 52,144 56, 845!58, 355 35, 912 55.3 12.. 50, 760 1,665 7,724 7,778 33,334 259! 50,805 55,337 56,808 35,506 55.0 19. 50, 203 8,520 1,456 7,064 8,060 33,364 259 54,247 56,942 58. 507 35,241 57.9 26.. 52,218 9, 702 1,688 8,014 8,7091 33, 548 259 50,310 56,136 57, 825 35,039 54.2 June 2-, 54,93' 10,368 1,701 8,667 9,9691 34,288 312! 46,846 55,800 56,366 36,153 50.6 9. 57, 792 11,142 1,691 9,451 10, 792j35, 564 294! 44,382 57,083 57, 558 36,187 47.3 16.. 49, 504 11,309 1,394 9, 915'10, 9741 26, 958 263| 53,286 57,003 57,971 35, 614 56.9 23-. 53, 842 14,122 3,370 10, 752 9, 810| 29, 675 235 49,250 56,411! 57,189 35,976 52.9 30- 50, 24" 12, 294 1,321 10, 973 9,389 28,371 193 51,078 54,285 54,679 35, 715 56.5 July 50, 613 14, 761 2,460 12,301 9,181 26, 499 172 51,168 54,185 55,097 37, 716! 55.1 14- 51, 095 15, 428 2,511 12,917 26, 672 112151,578 54,199; 55,469 37,178! 55.7 21. 53,098 17,639 4,082 13, 557 26,685 105 50, 447 54,116 55,345 37,637 54.3 28. 53,909 18,483 3,f 14, 585 8,690 26, 690! 46 52,181 55,747| 57,962 36,867 55.0 Aug. 4. 54,329 17, 972 2,699 15, 273 9,634 26, 723' 48, 880 54,580' 55,822 38,056: 52.1 11. 54,144 18, 272 2,655 15,617 9,575 26,297: 53,650 57,556 59,1261 38,872 54.7 18. 56, 642 19, 253 2,725 16, 528 ll,30ll 26,088 51, 736 56,099,57,471 39,657 53.3 25. 57, 733 22, 610 2,910 19, 700| 12,246 22, 877| 50,898 54,239, 56^608! 40^578 52.4 Sept. 1- 58,369 25, 261 4,166 21,095! 11,356' 21, 752 51, 850 53,435 55,651 41, 759 53.2 8. 56,767 24, 262 3,801 20,461! 11,599! 20,906 52,935 53,756 55,092i 44,696! 53.0 15. 55, 822 23,377 3, 7291 19,648! 11,998 20,447! 57,368 56,831! 57,176; 45, 654! 55.8 22- 56,181 23,360 4,824! 18,536 11,799 21,022 64, 903 56,025 61,571! 48,195! 59.1 29. 57, 779 24,175 5,546 18,629 12,768 20,836 63,075 57,162! 61, 743 48,650| 57.1 Oct. 6.. 54, 345 19, 798 4,982! 14,816 13, 7591 20, 788 65, 773 57,327| 59,285 50,668 59.8 13.. 50,417 16, 292i 3,999 12, 293 13,214! 20, 911 70,860 56,020 57, 285 51,047 65.4 20.. 52,045 16,333 4,344 11,989 14,694! 21,018 69, 583 58,534 59, 863 50, 634 63.0 27.. 55,393 20,070 5,401 14, 669 14,151! 21,172 64, 281 56,444 58,453 49,853 59.4 Nov. 3_. 55,346 19, 594 7,182' 12,412 14,313! 21,439 68,113 56,787! 58,134 51,275 62.3 10.. 52, 217 15, 932 4,092; 11,840 15,042 21, 243J 68,870 59,223 60,682 50,935 61.7 17.. 51, 694 15, 762 4,126J 11, 636 14, 674] 21,258 69,438 60,202 61,921 50,3131 61.9 24.. 50, 298 14, 427 3. 654! 10, 773 14, 578 21, 293L 71,769 59,280 60,938 49,530 65.0 Dec. 1.. 50,192 14, 352 4,3isi 10,034 14, 487 21,353'. 71,420; 59,693 61,962 49,144! 64.3 8.. 48,605 12,221 4, 784 7,43" 14,003 22,381 i _....! 71,780 57,933 59,008: 50,065 65.8 15- 43, 737 8,690 3, 223 5,467 14,346 20,701'. ... ! 80,055 63,285 63,669i 49,23270.9 22-. 46,375 8,908 3,485 5,423 15, 299' 22,168 ....J 77,335 59,451 63.287! 50, 791! 67.8 29. 43, 536 5,555 2,262 3,293 15,669 22,312 ..... 78,370, 58,914 62,267 49,230 70.3 Daily average: 1926 53,608 13,149 13,023 27,292 144 58,709; 59,044 60,736 42,128 57.1 1925 . 49,325 6,315' 16,450 26,229| 3311 65,954! 60,806 62,402 44,698! 61.6 1924. 50,636 12,0811 17,217) 21,320 ! 59,800 54,055 56,232 47,707 57.5 1923 53, 218 25,9931 19,995 7,230. 46,929; I 5 2,021 ! 54 ,240 ' 39 ,18 J 3 50.2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

I No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discou b n a te n d k s for member Bills bought in open market bo B u il g ls ht U. S. s o e p c e u n ri t m ie a s r b k o e u t ght in se U cu . r S iti . es Month d a i n c T s h d c o a o t s p a u e u l n s r t - s Total M b l a n a e n t o m e k t r e b a c s e l o r l- c R o b u e i n d ll t i s e s- d Total o B u o tr u i g g h h t t a r m W e g s e r i a e n t l e h t e - F r b e o f e a r s t d o e h n e m r e k r v r s a e l Total o B u o tr u i g g h h t t r W m es e i a n t l h t e F r b b e o e f o a s r t d u o e h n e g m r e k r v h r s a e t l l F o o a g r n o e s l i d g o n n 3 1926 O January _ 29, 506 18, 554 10,687 7,867 6,807 6,807 4,138 1,123 3,015 7 February __ 13, 326 6,789 4,680 2,109 4,346 4,346 1,859 129 1,730 332 March 36,669 12,331 8,654 3,677 4,395 4,395 19,870 13,955 5,915 73 April... 22,148 11,344 4,597 6,747 5,419 5,419 4,597 4,097 500 763 25 o May 18, 215 10,410 5,959 4,451 5,814 5,814 1,676 801 875 315 June 30,107 14, 552 9,111 5,441 6,424 6,424 9,114 7,664 1,450 17 July 31, 517 19,229 12,209 7,020 4,751 4,751 1,605 4,162 1,812 2,350 1,732 August 36,880 25,810 17, 577 8,233 6,394 6,394 300 2,991 116 2,875 1,385 September 49, 285 30,277 20,603 9,674 5,604 5,423 181 1,171 12,233 8,190 4,043 October 38,018 28, 632 23,272 5,360 7,394 7,164 230 300 1,692 1,392 300 November 37,190 27,273 22,752 4,521 6,289 5,929 360 3,628 3,628 December 18,452 15,758 2,694 8,566 7,294 1,272 400 12, 381 12, 372 139 Total: 1926 382, 799 223,653 155,859 67,794 72, 203 70,160 2,043 3,776 78,341 55,279 23, 062 4,019 807 tr1 1925 317,472 123, 701 80,319 43,382 110, 508 110, 508 8,192 60, 608 21, 328 39,280 13,094 1,369 1924 327, 529 62,995 85,388 102,846 102, 846 18, 390 52, 658 49,113 3,545 5,024 228 W 1923 477,625 300,694 150,812 149,882 74,875 74,875 57,923 42,133 i 39,223 2,910 2,000 m 1 Includes $24,000,000 of special temporary certificates received from the Secretary of the Treasury. % o > Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 11—DALLAS 441 No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES [Amounts in thousands of dollars] Member banks in district New Month L a o n u a i s * i- h O om kl a a - 1 M ico ex J - Texas z A on r a i- 1 Total Number N a u cc m o b m e - r at end of modated month 2 during month 1926 January- 207 30 18,317 18,554 850 70 February.. 92 16 6,681 6,789 849 88 March 17 423 17 11,874 12,331 850 134 April 232 240 155 10, 517 200 11,344 847 163 May 383 212 26 9,589 200 10,410 844 211 June 827 137 386 12,902 300 14,562 844 252 July 563 188 153 17, 825 500 19, 229 843 227 August 856 119 145 24,090 600 25, 810 843 236 September 1,082 132 142 28,421 500 30, 277 842 177 October .. ... . .. 400 295 125 27,456 356 28, 632 837 133 November 678 262 108 26, 069 156 27,273 833 102 December 185 317 25 17,769 156 18.452 827 88 Total* 1926 5 2°3 2 624 1 328 211 510 2 968 223 653 1925 4,527 3^ 159 1,717 114,191 107 123. 701 1924 8,466 3,541 4,529 131,290 557 148,383 1923 8,855 8.941 13, 588 267, 971 1,339 300,694 Number of member banks at end of year:2 1926 16 21 22 763 5 827 1925 15 28 24 779 6 852 1924 15 40 24 751 8 838 1923. 17 50 33 754 9 863 Number of member banks accommodated during the year: 1926 6 19 10 417 1 453 1925 8 28 15 309 1 361 1924 12 40 18 415 492 1923 10 43 32 523 9 617 3 Figures relate only to that part of the State located in the Dallas district. 2 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital-stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

442 ANNUAL REPORT OF THE FEDERAL RESERVE ROABD No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1923 Discounted bills ; $525,993 $252, 520 $531, 356 $1,170,022 Purchased bills : 462,842 522, 599 630,682 826,172 United States securities 985,652 939, 627 781, 838 268, 659 Deficient reserve penalties 35,403 27, 830 52, 548 62, 361 M iscellaneous i 117,159 71,050 161, 540 29, 222 Total earnings.- ! 2,127,049 1,813,626 2,157, 964 2, 356, 436 CURRENT EXPENSES Salaries: Bank officers 146, 326 133, 545 142,120 135, 730 Clerical staff 483,810 527,160 580, 902 619, 370 Special officers and watchmen 33, 580 34, 849 36, 817 37, 365 Allother 82, 719 101,083 102, 323 111,275 Governors' conferences 640 647 746 510 Federal reserve agents' conferences 363 388 345 361 Federal Advisory Council 1,227 831 1,047 1,278 Directors' meetings 5,632 5,521 5,607 6,064 Traveling expenses l 19,135 24, 763 28,156 24, 976 Assessments for Federal Reserve Board expenses 25, 214 25, 268 23, 485 25,034 Legal fees 5, 016 1,582 2,717 321 Insurance (other than on currency and security shipments) 25, 386 25,105 I 25, 539 28,073 Insurance on currency and security shipments 21, 553 21, 113 ! 22, 567 20,918 Taxes on banking house 31, 292 32, 236 32, 792 33, 070 Light, heat, and power 19, 231 23, 767 24, 892 25, 622 Repairs and alterations, banking house 3,298 2,424 9,765 6,738 Rent 1,546 i 1,448 1,393 1,248 Office and other supplies 14,818 | 15, 980 21, 404 27, 467 Printing and stationery 19,302 j 17,018 23, 049 35,067 Telephone 7,291 j 8,419 11,709 12,189 Telegraph 47,193 I 47, 950 50,062 50, 988 Postage 89, 896 88, 573 88.134 95,409 Expressage 16, 419 16, 846 21,171 22,304 Miscellaneous expenses 38, 441 32, 326 34,121 33, 497 Total exclusive of cost of currency 1,139, 328 1,188,842 1, 290, 863 1, 354, 874 Federal reserve currency, including shipping charges: Original cost 35, 483 28, 529 34, 215 27, 435 Cost of redemption 3,920 5,973 5,769 6,437 Taxes on Federal Reserve bank-note circulation.._ 815 2, 482 Total current expenses 1,178, 731 1,223,344 j 1,331,662 1, 391. 228 PROFIT AND LOSS ACCOUNT Earnings 2,127,049 1, 813, 626 2,157, 964 2, 356, 436 Current expenses. 1,178.731 1,223,344 j 1,331,662 1, 391, 228 Current net earnings 948,318 I 590,282 | 16,302 965, 208 Additions to current net earnings. 5, 919 3,451 47,239 22, 454 Deductions from current net earnings: Bank premises—depreciation 41,306 41,296 79,119 42, 242 Furniture and equipment 4, 019 15,450 9,385 12,062 Reserve for probable losses 50,000 250, 000 500,000 590, 000 Allother 1,701 8,852 20, 013 11, 076 Total deductions. 97,026 315,598 608, 517 655, 380 Net earnings available for dividends, surplus, and franchise tax 857, 211 278,135 265,024 332, 282 Dividends paid 257,502 i 255,239 249, 789 251, 429 Transferred to surplus account 599,709 22,896 15, 235 80, 853 Franchise tax paid United States Government. REIMBURSABLE FISCAL AGENCY EXPENSES Salaries.. 8,629 9,752 22, 674 46,011 All other. 647 1,728 3,516 14, 270 Total. 9,276 11, 480 26,190 60, 281 i Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 11 DALLAS 443 No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1920 1925 1924 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 3. 940 2,747 6, 666 10,123 Notes discounted 39, 201 27, 619 48, 019 89, 801 Bills purchased in open market for own account 7, 251 9,517 6,492 4,681 Currency received and counted 43, 952, 000 43, 233, 000 42, 358, 000 37, 912, 000 Coin received and counted 33,981,000 34, 061, 000 31, 075, 000 34, 815, 000 Checks handled 35, 595, 000 34, 396, 000 33, 293, 000 31, 449, 000 Collection items handled: United States Government coupons paid. 604, 000 671,000 770, 000 1,011,000 All other 116,000 111,000 136, 000 128, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 49, 000 66, 000 189, 000 1 2, 883, 000 Transfers of funds 104, 000 103, 000 98, 000 100, 000 AMOUNTS HANDLED Bills discounted-- •. $223, 653, 000 $123, 701, 000 $148, 383, 000 $300, 694, 000 Bills purchased in open market for own account 72, 203, 000 110,508,000 102, 846, 000 74, 875, 000 Currency received and counted 201, 983, 000 209, 027, 000 208,129,000 185, 914, 000 Coin received and counted 9, 420, 000 8, 903, 000 10, 513, 000 20, 920, 000 Checks handled 7, 530, 534, 000 7, 086, 895, 000 6, 686, 719, 000 6, 329, 983, 000 Collection items handled: United States Government coupons paid- 5,017,000 ! 5,227,000 6, 335, 000 6, 375, 000 All other 205,246,000 I 157,045,000 162, 619, 000 166, 902, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 71,636,000 113,271,000 113, 985, 000 169, 280, 000 Transfers of funds 3,902,860,000 3, 798, 780, 000 3, 356, 058, 000 2, 014, 785, 000 1 Large total due to redemption of war savings securities which matured Jan. 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures in^lule cash items only. Nimbars in thousands; amounts in thousands of dollars] I I m It e e m m b s e r d r a a n w d n n o o n n- o I n te F m e s d e d r r a a l w re n - Ite e m d s t o f o o r t w he a r rd- It o e n m s U n d i r t a e w d n ! member banks in serve bank and Federal reserve States Treas- Total 1 own district its branches banks and urer Month their branches Amount - Anlount |Num- Amount N b u e m r - Amount N b u e m r - Amount 1926 January 2,671 485, 632 130, 550. 107 14,133 7,370 2,858 637, 685 February 2,504 420, 759 98, 512! 103 13, 696 6, 423 2,679 539, 390 March I 2,907 478, 025 152,3411 121 18, 775 6,788 3,108 655, 929 April 2,661 377, 888 107, 7661 113 17,177 7, 625 2, 858 510, 456 May 2, 564 402, 790 12 105,783 107 16, 639 6, 502' 2, 748 531, 714 June 2,790 442, 109! 12 137,881 111 17,319; 8, 674 2, 975 605, 983 July.... 2,629 440, 553 171 71,816 103 14, 578! 7, 672 2, 814 534, 619 August- 2,519 456, 965 12i 120,431 97 13, 719! 6, 349 2, 691 597, 464 September 2, 676 544, 039 12! 128,322 95 16,813! 6, 605 2, 847 695, 779 October 2, 883 583, 626 12! 141,082 101 15, 439! 7, 686 3, 070 747, 833 November 2, 886 547, 096 12! 121,455 106 14, 6701 7, 338J 3; 073 690, 559 December 3,021 531, 723 131 124,361 11 17, 27ll 7, 774| 3, 217 681,129 Total: 1926 32, 711 5,711,205 149J1, 440,300 1,281 190, 229 797 86,806 34,' 7, 428, 540 1925.... 31, 562 5, 578, 7231 13911,156,113 1,193 170,562 779 90,262! 33,673 6, 995, 660 1924.... 30, 561 5, 337, 200 146ll,015,132 1,074 148, 438 773 89,280 32,554 6, 590, 050 1923 ... ! 28, 723 2 5, 980, 252 3) (3) 1,199 157, 356 785 92,368 30,707 6. 229, 976 1 Exclusive of duplications on account of items handled by both the parent bank and one of its branches or by both of its branches. 2 Includes items drawn on Federal reserve bank and its branches, separate figures not being available. 3 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

444 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal Transfers for Total Total Transit clearing reserve note Government pay- receipts 1926, week ending- clearing account t F o m e o d e t n e h r t e s a r l F o f e r t d o h e m e r r al N lo e s t s g N a e i t n Pay- Re- Pay- Re- Pay- Re- reserve reserve ceipts ceipts ments ceipts banks banks Jan. 6 (5 days). 63,161 49,121 171 506 6,500 63,332 56,127 7,205 13 65,548 65, 653 657 567 66,205 66,220 15 20 72, 747 72,021 308 424 73,055 72,445""610 27 65,275 67, 552 746 494 66,021 68,046 2~025 tfeb. 3. 63,400 66,307 333 452 1,000 63, 733 67,759 4,026 10. 59,727 59, 723 263 425 59,990 60,148L 158 2 1 4 7 . . 5 5 5 9 , , 4 0 3 6 0 7 5 5 7 5 , , 2 2 2 8 1 4 2 1 9 4 9 9 2 3 2 7 4 8 5 5 5 9 , ,2 7 1 2 6 9 5 5 7 5 , , 5 5 9 0 9 8 3,708 1,870 Mar. 3.. 58,072 61,138 530 461 58,602 61,599 2,997 10.. 68,246 59, 558 397 302 68,643 59,860 8,783 17.. 71,651 89,953 253 379 6,000 77, 904 90,332 12~428 24.. 73, 588 371 341 4,0001 72,999 73,929 930 31.. 61,482 58,318 392 409 61,874 58, 7273," 147 Apr. 7.. 57,885 56,144 339 296 58,224 56,440 1,784 14.. 57,957 55, 711 275 408 58,23r 56,119 2,113 21.. 58,827 56, 503 266 280 59,093 56,783 2,310 28.. 64, 604 60, 383 525 347 65,129 60, 7304,399 May 5.. 57, 759 58,151 240 399 57,999 58, 550 551 12.. 57, 597 55, 729 243 285 500 57,840 56, 514I," 326 19.. 56, 819 60,461 268 383 57,087 60,844 '§,"757 26.. 57,; 53, 771 277 324 57,613 54,095"§,"518 June 2.. 52,192 49,234 479 302 52,671 49, 5363,135 9.. 57, 630 52,368 332 159 1,300 57, 962 53,827 4,135 16.. 65,263 71,196 264 359 3,700 65, 527 75,255 9," 728 23.. 70,059 69,889 255 374 4,000 400 74,314 70, 663'3,~65l 30.. 63, 422 65, 981 391 380 1,000 100 64,813 66,461 1,648 July 7.. 51, 500 50,238 220 178 1,500 51, 720 51,916 14.. 58, 824 58, 664 316 239 59,140 58,903 237 196 21.. 69,811 67, 730 250 371 70,061 68,101 1,960 28.. 63,070 64, 325 583 273 1 2, 500 63, 653 67,098 '§"445 Aug. 4 67,040 62,848 262 372 67,302 63,220 4,082 11 60,497 64, 703 354 273 12,500 61,351 67,476 18 64,672 63,442 261 294 64,933 63,736 I," 197 6,125 25.. I 64,704 64,029 427 267 65,131 64,296 83f Sept. 1- 58,212 59,744 410 37' 58, 622 60,121 1,499 8_. 55,216 56,994 147 155 55,363 57,149 1,786 15.. 68,146 72, 099 407 3701 600 68,553 73,069 4,516 22.. 85, 520 91,860 275 302 500 86.295 92,162 5,867 29.. 77.190 76, 981 712 416 1,000 78,902 77, 3971,505 Oct. 6-. 81,864 82,802 262 310 82,126 83,112 13.. 68, 212 74,150 446 317 74, 467 20.. 90, 310 89, 672 293 373 2,000 1,000 92, 603 91,045 1, 558 27.. 80.191 74,491 428 392 1,000 80,619 75, 8834,736 Nov. 3.. 68, 627 73,29.c 305 418;, 68,932 73,713 4,781 10.. 78,048 78,633 406 422[ 500 78,954 79,055 SfilOl 17.. 75,834 76,753 389 373 1,000 76,223 78,126 1,903 24.. 80,255 83,800 403 414 80, 658 84,214 3,556 Dec. 1. 69,069 68,621 405 340 69,474 68,961 513 75. 777 75,993 256 419 76,033 76,412 379 15. 75, 508 81,685 433 429 1,000 75,941 83,114 7,173 22 77, 931 77,107 547 413 1,000 79,478 77, 520I~958 29 59,363 60,930 356 375 59, 719 61,305 I," 586 31 (2 days). 28,124 27.279 110 108 1,000 29,234 27.38' i,~847 Total: 1926.. 3,463,299 3, 479,826 18, 686 18,648 21,500 24, 600 3. 503,485,3, 523,074 19, 589 1925.. 14,500 16,200 3,485,109 3,472,177 12, 93: 1924.. 7,000 35,070 3,183,000:3,209,988 1923.. 26,500 12,000 2,884,800 2, 901, 919 17,119 ! Not for Government account. Net gain in ownership of gold since establishment of fund in 1915, $60,459,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] DALLAS DISTRICT C0O0 r CO Loans and investments Net demand 3 o CO Call date Total c L o a d u o n i n a s d n - ts s l Total Inv G e m U o s . v t e m e S n r . t e n n - ts s O ec th u e ri r - b f D r a o n u m k e s C s a d p u n i a r r v d p o p i i f d l u t i u a e t n s s d l - , , de T p o o t s a i l ts D p e o m d s e i a t - s n 2 d de T p i o m s e its d U S ep n ta o i t t s e e i s d ts D b u a e n k t s o d p e o N m d s e i e a t - t s n 3 d G de m t o p a p i v m l n e o u e n d s e s r i t n ts - R F re b w e e s a s d e i e n e t r r h v k r v a e e l p c r a B o e a y u d n i a l n i l d b s s t - l s e r N b b e a i e p u n n r o m g k r o t s - f securi- ties ties 1921 Dec. 31 713,077 593, 685 119,392 19,174 30,218 84, 728 155,137 667,669 476, 653 104,835 8,325 474,493 587, 653 45,305 70,032 851 1922 Mar. 10 702,146 585,443 116,703 91,350 25,353 105,033 158,491 688,374 480,311 109,919 10,206 87,938 486, 737 606,862 46,261 50,064 854 June 30 708,480 587, 799 120,681 95, 812 24,869 99,262 157, 974 692,932 488, 737 116,888 4,976 82,331 495,025 616,889 46, 605 46, 516 857 Dec. 29 750,087 609,481 140, 606 112,186 28,420 130,690 161, 749 816,180 553,184 120,460 14,648 127,888 573,315 708,423 54,457 20,000 855 1923 Apr. 3 771,128 620,089 151,039 124, 577 26,462 108,337 157, 933 798,903 538, 587 133, 776 20,228 106,312 557, 621 711, 625 51,077 26,475 855 June 30 745, 617 601,138 144,479 117, 690 26,789 81,491 158,084 719, 861 500,217 136, 750 8,278 74,616 505.836 650,864 47,075 857 Sept. 14 781,007 636, 701 144,306 113,098 31,208 129,188 159, 606 818,813 550,383 137, 250 5,886 125,294 562,464 705, 600 52, 759 54,754 858 Dec. 31 811,458 649,704 161, 754 126,469 35,285 162,898 155, 715 947,409 623> 676 143, 250 12,182 168,301 659,065 814,497 60,602 13,028 849 1924 Mar. 31 777,435 629,246 148,189 114,605 33,584 119,535 157,950 835,935 555, 598 149,971 13,192 117,174 577, 910 741,073 52,319 17,084 835 June 30 732, 715 596,881 135,834 104,274 31,560 105,145 156, 502 768,180 516,927 152,454 6,452 92,347 524,137 683,043 49, 293 24,316 Oct. 10 767,301 625, 645 141, 656 103,369 38, 287 198,361 159,418 931, 646 590,368 154, 713 9,084 177,481 608,012 771,809 55,895 15, 678 Dec. 31 790,584 645,513 145,071 101,266 43,805 214,390 153,452 1,004,225 637,808 150,856 6,382 209,179 683,020 840,258 65, 708 6,492 1925 Apr. 6 813, 788 650,725 163,063 121,368 41, 695 179,811 160,130 966, 585 616, 746 163, 632 16,230 169,977 658,215 838,077 62,061 3,727 824 June 30 791,909 637,973 153,936 113,707 40,229 133,823 159,968 882,959 587,970 167,305 8,598 119,086 601,022 776,925 57,174 12,703 847 Sept. 28 823,117 664,145 158,972 114,589 44,383 163,817 161, 567 951,362 612,084 164,640 13,917 160,721 642,102 820, 659 59,010 15,926 854 Dec. 31 832,621 668,065 164, 556 115,339 49,217 152,668 156, 760 980,486 649,624 158,382 14,065 158,415 853,127 66,062 6,161 852 1926 Apr. 12 667,847 165,242 120,791 44,451 135,343 165,120 929,064 623,005 169,465 12,496 124,098 636,389 818,350 58,172 12,309 850 June 30 807,731 649,791 157,940 113,323 44,617 121,089 162,495 871,272 590,128 163,897 7,372 109,875 598,857 770,126 57,342 25,393 843 Dec. 31 808,120 652,412 155, 708 105,145 50,563 146,403 158, 562 940,293 631,305 160,377 8,571 140,040 641, 836 810,784 64,423 10,550 827 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued [Amounts in thousands of dollars] CITY OF DALLAS Loans and investments Net demand Investments Capital, plus Reserve Bills Num- Call date Total a L nd o a d n i s s- G U ov . e S r . n- Other b f D a ro n u m k e s s a d u n iv r d p i d l u u e n s d - , de T p o o t s a i l ts d D e e p m os a i n ts d 2 de T p i o m s e its d U S e n p ta o it t s e e i d s ts D ba u n e k t s o d d e e p N m o e s a t i n t d s 3 G m o a v n e e d n r t n- F re w e s d e i e t r h r v a e l p r a e a y d n a i d b s- le r b e e i p n r o g r o t f counts i Total ment securi- profits time bank counts banks securi- ties deposits ties 1925 Dec. 31 112,873 94,427 18,446 13,741 4,705 11,754 18, 580 133,732 72, 661 16,383 7,721 36,967 82,908 107,012 9,178 210 8 1926 Apr. 12 109,343 87, 297 22,046 17,399 4, 647 12, 700 22,139 123, 558 73,347 17,360 7,001 25, 850 75, 515 99, 876 7,721 8 June 30 104,727 84,650 20,077 16,106 3,971 14,156 22, 224 116,978 72, 224 15, 946 3,900 24,908 75.534 95,380 7, 794 289 8 Dec. 31 107, 797 90,726 17,071 11,921 5,150 11,269 21,718 122, 051 70,077 16, 528 4,572 30, 874 76,405 97, 595 9,133 7 CITY OF EL PASO 1925 Dec. 31 22,554 16,158 6,396 3,384 3,012 2,796 2, 510 27,041 16,310 7,019 1,194 2,518 15,830 24,043 1,829 299 4 1926 Apr. 12 22, 681 16,887 5, 794 3,408 2,386 3,227 2,473 27,809 16,308 8,093 1,076 2,332 15,795 24,964 1,671 424 4 June 30 22, 237 16, 782 5,455 3,469 1,986 2,923 2, 517 25,451 14,996 7,830 622 2,003 14,427 22, 879 1,877 1, 277 4 Dec. 31 21,251 15, 780 5,471 2,889 2,582 3,108 2,565 26,127 15, 208 7,415 1,052 2,452 14, 517 22, 984 1,814 268 4 CITY OF FORT WORTH 1925 Dec. 31 54,493 41,338 13,155 4,767 8,071 7,286 37,811 8,417 133 22, 928 45,397 1926 Apr. 12 57,427 43,498 13, 929 9,145 4,784 9,249 7,519 71, 784 44,049 10,440 97 17,198 June 30 56, 288 42,931 13,357 8,514 4,843 7,528 7,514 68,807 42,113 11,071 106 15,517 Dec. 31 54,862 43.080 11, 782 7,516 4,266 8,810 7,627 71,140 40,752 10,268 104 20,016 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF GALVESTON 1925 Dec. 31 3, 555 18, 006 5, 549 4,174 1,375 2, 566 2,627 27,553 ! 6,878 11,281 9, 244 12,313 1,868 1926 Apr. 12 24,048 18,190 5,858 4,427 1,431 2, 585 2, 715 27,145 8,414 11,996 251 6,484 11,643 23,890 1, 597 June 30 21,528 15,236 6,292 4.808 1,484 2,762 2,776 24, 708 I 7, 596 11,726 142 5,244 8,870 20,738 1,361 Dec. 31 23,994 17, 898 6,096 4,251 1,845 3,019 3,110 28, 760 : 8,826 11,565 76 8,293 12, 498 24,139 1, 990 CITY OF HOUSTON 1925 Dec. 31 95, 543- 76, 739 18,804 11, 569 7,235 12, 542 13,987 1926 3 Apr. 12 97, 254 77, 540 19, 714 11,961 7. 753 14,808 June 30 95,307 i 75, 587 19, 720 11.361 8,359 13, 586 B Dec. 31 102,556 | 81,308 21,248 11, 506 9,742 15, 941 I o CITY OF SAN ANTONIO 1925 Dec. 31 41,303 34,671 6632 5,456 1,176 6,197 7614 49,978 29, 903 12, 500 455 7,120 30,247 43, 202 3,653 500 1926 Apr. 12 42, 821 35,135 686 6, 645 1,041 7,342 7,834 51, 289 29, 872 14,118 454 6,845 29,703 44,275 3, 519 700 10 June 30 39, 271 30,251 9020 7,845 1,175 6,973 7,460 47, 503 28,523 11,727 385 6,868 28, 787 40,899 3,860 183 9 Dec. 31 41,974 33,761 8213 7,266 947 5,628 7525 49,082 31,072 9,993 365 7,652 31, 630 41,988 4,035 385 9 CITY OF WACO 1925 Dec. 31 16,434 13, 368 3,066 821 2,636 3,201 18,410 10,378 | 5,439 30 2, 563 9,995 | 15,464 1,290 40 1926 Apr. 12 16, 874 13,896 2,978 2, 263 715 I 2,188 3,323 17, 679 10,776 5,299 1,589 10,614 i 15,928 1,283 504 June 30 15, 249 12,335 2,914 2,281 633 ! 1,425 2,904 14, 995 8,699 5,064 1, 211 8,629 13,714 1,127 475 Dec. 31 15, 368 12, 583 2,815 2,160 655 ! 2,090 2,880 16,469 9,143 5,226 | 2,071 8,960 I 14, 215 1,155 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

448 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 10.—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEM- BER 31, 1925 [In thousands of dollars] Dec. 31, Apr. 12, June 30, Dec. 31, 1925 1926 1926 1926 (852 banks) (850 banks) (843 banks) (827 banks) RESOURCES Loans and discounts _ 666,135 666, 208 648, 293 650, 747 Overdrafts ... 1,930 1,639 1,498 1, 665 United States Government securities 115,339 120, 791 113, 323 105,145 Other bonds, stocks, and securities 49, 217 44, 451 44, 617 50, 563 Total loans and investments _ «32,621 833,089 807,731 888,120 Customers' liability on account of acceptances 3,012 1,612 1,313 5,715 Banking house, furniture, and fixtures 41, 425 41, 734 41, 232 40,684 Other real estate owned... 13,967 13, 611 12, 295 12,488 Cash in vault 25, 559 22, 915 21, 776 23, 950 Reserve with Federal reserve bank 66, 062 58,172 57,342 64,423 Items with Federal reserve banks in process of collection. 29, 754 28,467 25,329 29, 261 Due from banks, bankers, and trust companies 152, 668 135, 343 121,089 146, 4&3 Exchanges for clearing house and checks on other banks in same place.. _ 19, 807 11,855 10, 544 21, 226 Outside checks and other cash items. 4,244 3,695 3,718 5,273 Redemption fund and due from United States Treasurer. 2,205 2,178 2,175 2,178 United States securities borrowed l 93 1,146 641 Other securities borrowed l 153 450 Other assets ... 3,861 3,905 3,359 3,018 Total. 1,195, 278 1,156,674 1,109,202 1,163.. 830 LIABILITIES Capital stock paid in 96,078 97, 760 96, 538 95, 817 Surplus fund 43, 581 43, 733 43, 673 43, 753 Undivided profits, less expenses and taxes paid—. 17,101 23, 627 22, 284 18, 992 Reserved for taxes, interest, etc., accrued 2,175 2,031 2,282 2,345 Due to Federal reserve banks 1,912 1,630 2,179 2, 679 Due to banks, bankers, and trust companies 156, 503 122, 468 107, 696 137,361 Certified and cashiers' or treasurers' checks outstanding. 29, 553 10, 525 10,454 33, 579 Demand deposits 620,071 612,480 579, 674 597, 726 Time deposits 158, 382 169, 465 163, 897 160, 377 United States deposits 14, 065 12,496 7,372 8,571 Total deposits _ 980,48B 929,064 940,293 Agreements to repurchase United States Government 871,273 or other securities sold 110 314 296 Bills payable (including all obligations representing 521 money borrowed, other than rediscounts) 3,777 7,311 6,201 Notes and bills rediscounted (including acceptances of 13,740 other banks and foreign bills of exchange or drafts sold with indorsement) _ 2,384 11, 653 4,349 Letters of credit and travelers' checks sold for cash and outstanding 48 107 207 77 A A c c c c e e p p t t a a n n c c e e s s e e x x e e c c u u t t e e d d f b o y r o cu th s e to r m b e a r n s ks for account of re- 2,988 1,708 1,338 5, 3-54 porting banks _ 904 National-bank notes outstanding. 43,107 j 42,913 42, 595 42, 451 United States securities borrowed 1,406 I 1,132 1,146 641 Other securities borrowed 107 107 153 450 Other liabilities 1,930 I 1,869 1.800 1,907 Total. 1,195,27! 1,156, 674 1,109, 202 1,163? 830 L Exclusive of securities borrowed by national banks prior to June 30, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

449 DISTRICT NO. 11—DALLAS No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OP CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns having a Banks in cities and towns having population of— a population of— Date Total Total t 5 L h ,0 e a 0 s n s 0 5 1 ,0 4 0 ,9 0 9 9 to 1 9 5 9 ,0 ,9 0 9 0 9 to 10 o a 0 v n ,0 e d 0 r 0 t 5 h ,0 a 0 n 0 5 1 ,0 4 0 ,9 0 9 9 to 15 9 , 9 0 , 0 9 0 9 9 to 10 o a 0 v n ,0 e d 0 r 0 1923 Apr. 25.... 527,082 150, 690 87, 901 118,429 170,062 138, 213 18,021 20,885 51, 546 47, 761 May 23... 514, 274 145, 741 86,847 113, 985 167, 701 139,612 17,902 21, 626 51, 278 June 27— 496,227 139, 013 84,832 109,330 163,052 141, 251 18,261 21,692 50,897 50,401 July 25.... 485,644 133, 796 84,405 107, 579 159,864 139,868 18,507 22,014 50, 940 48, 407 Aug. 29... 501,088 149, 580 87, 772 103, 508 160,228 139, 356 18, 516 49, 699 48,152 Sept. 26... 574,421 186, 786 101, 334 109,108 177,193 139,472 18, 344 22, 978 50, 264 47,886 Oct. 24..- 629, 944 209, 681 107,980 116, 717 195, 566 139, 723 17,447 23, 381 50, 541 48, 354 Nov. 28... 654, 398 220, 297 111,284 117, 596 205, 221 143, 713 17, 111 23,479 52, 550 50, 573 Dec. 26.... 646,691 212, 277 111,802 121,106 201, 506 144, 711 16,096 51, 572 54, 374 1924 Jan. 23..-. 624, 577 203, 456 108,159 117,440 195, 522 151, 263 17,097 23,834 52, 699 57,633 Feb. 27—. 594, 482 190, 629 103, 777 118, 698 181, 378 157,225 17,848 24, 253 53, 085 62, 039 Mar. 26... 568, 800 176, 712 99,307 112, 565 180, 216 155, 257 18, 740 24, 690 54, 718 57,109 Apr. 23— 549,067 169,198 96,425 111,201 172, 243 156, 696 18, 572 27, 754 53,001 57, 369 May28._. 522, 820 159,426 91, 306 106,372 165, 716 154,085 18, 729 27,108 51,407 56.841 June 25 512, 565 154, 458 90,265 104, 316 163, 526 157,153 18, 554 27, 775 51,860 58, 964 July 23...- 502, 763 150, 791 87,191 101,102 163, 679 157, 714 19,029 27,977 51,851 58,857 Aug. 27__. 510, 092 155, 872 87,123 100, 532 166, 565 160, 201 18, 572 27,815 51, 614 62, 200 Sept. 24-. 562, 283 183, 227 93, 659 107, 319 178,078 160, 260 18,085 27, 944 52, 767 61,464 Oct. 29.— 609,594 204, 281 99, 200 115, 997 190,116 159, 889 17, 736 27,247 52, 355 62,551 Nov. 26---- 641,603 214, 656 101,130 119, 943 205, 874 158, 722 17, 738 26, 229 51, 251 63, 504 Dec. 24— 670,487 219, 275 103, 086 121, 721 226, 405 158,107 16,478 25,198 49, 556 66, 875 1925 Jan. 28— 660,847 214, 884 105,152 120,150 220, 661 160, 584 18,174 26, 045 50, 748 65, 617 Feb. 25— 680,428 214, 880 106, 770 127, 819 230,959 166,895 18, 827 27,007 52,312 68, 749 Mar. 25... 662,862 202,211 102, 248 131,914 226,489 163, 780 18,624 26,508 51, 711 66, 937 Apr. 22— 635, 576 191,259 101,126 129,457 213, 734 165, 531 20,263 27, 700 51,371 66,197 May 27.. _ 182, 362 94, 783 125,295 203,186 166,006 20,674 28,097 51, 927 65,308 June 24— 588,601 173, 569 93, 574 121,204 200,254 167, 218 20,354 27,624 52,394 66,846 July 29..- 581,038 170,485 91,472 118, 701 200,380 168, 600 20,397 27,246 53,182 67, 775 Aug. 26-.. 590,664 175,416 92, 584 117,860 204, 804 168,110 20,192 27,393 53,455 67,070 Sept. 23... 632, 784 195,444 101,333 123, 967 212,040 169,415 21,321 27,072 53,146 67,876 Oct. 28.... 667,413 212, 944 105, 358 128,034 221,077 166, 601 19,071 26, 790 53,035 67, 705 Nov. 25... 674, 507 216,501 105, 712 129,163 223,131 166,821 19,164 27,026 52, 775 67,856 Dec. 23— 668, 749 210, 225 106, 418 130, 758 221,348 163,290 18,302 26,144 51,308 67, 536 1926 Jan. 27 659,813 202, 777 106,122 131,189 219, 725 167,330 18,427 26,295 53, 241 69,367 Feb. 24— 654,003 197,808 105, 542 131,331 219,322 171,024 19,055 26,502 54,367 71,100 Mar. 24... 637,392 186, 779 100,305 130, 732 219, 576 169,159 18,861 26,317 55, 584 68,397 Apr. 28.... 605,845 175,244 97,145 123,365 210,091 165,668 18,606 26,027 53, 294 67, 741 May26__. 598,483 170,012 95, 601 122,168 210, 702 165,099 18,839 26, 246 51, 825 68,189 June 23 588,075 164,241 95,389 120, 639 207,806 166,827 18, 777 26,160 51,596 70, 294 July 28.... 589,748 168,031 94,468 118,289 208, 960 165, 299 19,609 26,019 51,812 67,859 Aug. 25. .. 584,463 163,767 94,119 119,054 207, 523 165, 277 19, 244 26,163 52,128 67, 742 Sept. 22... 612,834 178, 603 97,177 122, 776 214, 278 165, 732 19, 445 26,195 52.165 67,927 Oct. 27.... 626, 554 182, 516 98, 564 126, 509 218, 965 164,972 18,455 24, 543 52, 921 69,053 Nov. 24... 635, 704 188,092 99,321 126,343 221,948 165, 713 18,140 26,054 53, 517 68,002 Dec. 29— 632,391 183, 559 98,162 128, 780 221,890 161, 503 17,125 24,165 51,084 69,129 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

450 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS fin thousands of dollars] ! Net demand, time, and Loans and investments ! Government deposit? | Re- Bor- - serves row- Date (Wednesday) Loans i I F w e i d th - fr in o g m | Total ! I s e O cu n r -| j m v I e e n s n - t t - s I ! ; Total | i | ; m N d a e e n - t d Time Gov- I ! r e b e s a r e a n r l v k e re b F e s a e r e a n d r l v - k e Weekly averages: 1922 300,763245, £ 49,010196,851 54, 9Q2 282, 285; 212, 688 65,010 4,587 23,470 4,747 1923 333,585266,034 58,177 207,857 67,551314,496[ 233,208! 75,, 557, 5,, 731 2.5.,2,3.3_1_.7.,,4_3_3 1924 341,470276,586 65,495 211,091 64, 884 329,155| 235, 358| 8888, 8888991 44, 99008 8 225, 658|8 |4, 0577 1925 377, 997! 302, 779 78, 009 224, 77075, 218 372, 905! 273, 267 ",8J 7°6"!~ 4,7'6 —2 29, !3,067 1926 3~~8~9 ,9'"7"3 313,198 78,573 234,625 76, 775 375, 732: 269, 61499,918 6,200 29,167J 6,730 1926 Jan. 6 . 394, 061322,006 82,685 239,321 72, 055 384,351; 279, 877 96, 338' 8,136 28,958| 6,981 13 393,037| 321,147 86, 008 235,139| 71, 890 388, 837J 284, 58496, 685: 7,568 29,983j 6,448 20 397,2181 320, 295 86,394 233, 9011 76, 923 388, 506| 283,44297, 496 7,568 28,500 5,444 27 . 396,1011320,633 84,529 236,104 75,468 386,0791280,121 98, 390 7,568 29,934 6,030 Feb. 3 394,709321,015 83,961237,054 73, 694 388,657:1280,785100,305 7,567 30,114 4,735 10 397,563321,905 86,677 235,228 75,-658 388,339J27S, 837 101,937 7,565 29,761 3,311 17 ....396,866 321,430 82,453 238,977 75, 436 389,247| 1282, 525! 99,157 7,565 33,573 3,821 24 394,790318, 784 83, 830 234, 954 76, 006384,481 i [276,147 100,769 7,565 30,681 3,864 Mar 3 391,180315, 888 84, 295231, 593 75, 292384,670;'277,479 7,565 28,469 5,425 10 ....393,205 317,821 86,376 231,445 75,384 383,548f|276,777 99, 206 7,565 29,707 4,111 17 403,44S8D b3i1y9.,425 86,922 232,503 84, 060 391,159 279, 892 9„9„,8,2_4.} 11,443 29,431 3,541 24 394,892 '3 12"!!, 837 85,922 226,915 82,055 384,620'!275,459100,337 8, 824 30, 589 3, 652 31 391,777 313, 079 87, 288 225, 79178, 698I 381,550-272, 408 100, 318 8,824 27,430 2,066 Apr. 7 392,035 312,908 87,866 225,042 79,127 383,988! i275, 376 99,788 8,824 29,799 2,377 14 389, 295 312, 308 80, 934 231, 34746, 987 382,363:1274, 059| 99,478 8,826 29,848 1,611 21 389, 961! 313, 720' 80, 620 233,100 76, 241 377,517:269,356100,902 7.259 30,130 2,612 28 385, 300 309, 037j 77, 957 231, 080 76, 263 372,204J!264, 369100, 575 7.260 28,308 4,455 I May 1 5 2 ....3 3 8 8 4 6 , , 4 13 9 1 2 3 30 0 7 8 , , 4 3 8 6 2 3 7 7 6 8 , , 9 9 5 9 6 3 2 2 3 2 1 8 , , 4 4 0 8 7 9 7 77 7 , , 0 7 1 6 0 8 3 31 7 77 4 11 , , 8 5 4 68 |||, 2 26 6 4 88 , ,9 3 1 0 1 9 1 10 9 0 ,1 ,4 3 89 6 6, , 6 9 1 6 9 8 2 2 9 7 , , 1 7 4 9 1 2 4 3 , , 6 7 7 2 1 2 2 1 6 9 ^ 3 3 8 8 3 1 , , 3 3 6 8 4 5 3 3 0 0 6 5 , , 7 8 2 12 4 ^ 7 7 7 9 , , 1 2 3 8 3 7 2 2 2 2 8 7, , 5 5 9 2 1 57 7 6 5 , , 6 5 6 5 1 2 3 3 6 6 7 9 , ,0 96 2 2 7 ! | 2 2 2 2 66 26 77 2 ,, , 7 55 76 00 63 66 3 9 9 9 5 9 9 , , , 9 6 7 1 3 2 3 8 8 5 5, , 5 7 6 9 1 3 2 2 9 8 , , 5 7 9 9 5 4 3 2 , , 0 3 6 7 0 8 June 2 . -. '381,466 305, 581 76, 285 229, 296 75, 885369,654J {264,002 100, 091 5,561 29,020 3,637 9 !379,267 73"0 3,1'7""8 76, 863 226, 315 76,089 369,055! |263,416100, 078 5,561 30,125 3,812 16 ___J384,596308,472 75,698 232,774 76,124 376,962!|267, 335104, 066 5,561 29,514 3,354 23 '379,735301,510 73,156 228,354 78, 225 364,703^257, 548 101, 594 5,561 30,054 6,511 30 1378,346301,007! 73,013 227,994 77, 339 367,369! 261, 206 99,349 6,814: 28,573 3,215 July 7 '373,406 297,733 74,683 223,050 5, 673 361, 643!j251,195 105, 826 4,622 26,933 5, 325 2 1 2 1 4 8 __ | j 3 3 3 7 7 7 6 1 4 , , , 1 1 95 8 8 2 4 62 3 3 9 0 0 6 0 0 , , , 4 7 5 5 0 1 3 9 8 , 7 7 7 2 2 1 , , , 6 8 9 4 6 6 0 6 6 2 2 2 2 2 2 7 3 8 , , , 8 5 8 1 5 4 3 3 2 ; ! 7 7 7 4 4 5 , , , 4 4 6 7 9 6 8 9 5 3 3 3 6 5 6 3 8 0 ,, , , , , 0 7 5 76 8 6 65 3 6 5: ! | j, 2 2 2 2 5 5 5 5 9 4 6 9 , , , 4 4 6 6 8 9 8 8 2 3 1 1 9 9 9 9 9 9 9 9 , , , , 3 8 8 8 3 3 3 3 2 8 2 2 4 4 4 , , , 2 2 2 5 5 5 2 2 2 2 2 2 7 7 8 , , , 1 4 0 5 5 8 3 6 7 8 5 7 , , , 0 3 2 7 0 7 3 5 6 Aug. 4 379,193 302, 826, 75, 420!227, 406 76, 367S357, 822! 253, 90899, 662 4,252 27,361 6,875 11 '378,8671302, 584! 74, 728 227, 85676,283!363 383M260,168 99,494 3, 7211 29, 521 6,961 18 383,375306,376 74, 534 231,842 7,6u,,9 w99^w:3, 65,1*2*1*! , ,2*6„*2,, 2*8u6u 99, 488 3,347 29,931 7, 345 25 i385,07< 308,042: 74.990 233.052 77,0321356,067j 254,172 99, 351 2,544 27,889 10,212 Sept. 1 383,3".- '307,466 73,592^233,874 75, 905!357,0891255,440 99,105 2,544 27, 201 12, 823 8 J384.0731307,779! 74,6251233,1541 76, 294!359,065257,697; 98,824 2, 544 26, 756 11,662 15. 1393.580|313,999 74, 443 239, 556J 79, 581^378, 611270,117! 99,115 9,379 29,174 11,145 22. |395,4521317,772' 74,9161242, 8 7, 6801373, 815!264,869! 99,574 9,372 28, 701 11,903 29. 1397,315 321,005; 75, 465|245, 540| 76, 310j375, 815|266,613 99.820 9,382 29,430 13,462 Oct. 6 !397,5?8 i, 402! 75,905 244,497 77,1261377, 409! 268,015100,025 9.369 27, 920 11,235 13 1400,508 910! 75, 932!245, 978| 78. 598J391,100II282, 0371100, 445 8,618 27,006 8,764 20 |398,525319,949| 76, 528-243, 4211 78, 5761381,009;|273, 318101, 535 6,156 29, 880 10,265 27 (400,156321,182! 78,019243,163 78, 974!377, 776 271,173 101, 370 5,233 27, 786 14,228 Nov. 3 399,292 320, 804! 77, 2891243, 51578, 488 377,164 272, 266 100, 4,129 28, 639 14, 775 10 398,415320,190! 77. 543:242, 647 78,225:378,689] 273, 9„2„5 100, 319 4,445 29, 715 11,168 17. 1399,337 321,080| 77.199;243, 881 78.2571378,914 276,183 99, 618 3,113 30, 591 11,740 24 1397,7451321,031 77,081 243,950 76, 714:376, 672| 274,129 99, 743 2,800 30, 352 10, 959 Dec. 1 394,269 317, 628! 75, 967 241, 66176, 641 373, 985!271, 370 99, 815 2,800 30, 282 11,211 .1393,934 317,905 74, 775|243,130 76,029 373,659!270, 412100,447 2,800 28, 714 9,140 15. .1395,667 319,707 77, 513:242,194 75. 960:386, 262\ 2„80, 416100,181 5,665 33,197 5,723 22. . 399, 663320, 377 78,0461242, 331 79,286J382,05l|2"'76,704 99, 695 5, 65230,104 4,461 Digitized for FRA29S.ER _ 393,163 318, 386 76, 908J241,478 74, 777j381, 244 2"75,148 1001,,418 5,678 29,085 3,064 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

451 DISTKICT NO. 11—DALLAS No* 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Loans and investments Ne G t o d v e e m rn a m n e d, n t tim de e p , o a s n it d s se R rv e- es r B o o w r - - Month Loans w Fe it d h - f i r n o g m s In- Net Gov- eral Fed- Total Total r s i e O t c i n e u s - o A th l e l r m v e es n t t - s Total m d a e n - d Time m er e n n - t b se a r r e n v - k e b s e e a r r r e n a v - k l e January 285, 878! 237, 308 45,170 192,138 48, 570 257, 274191, 821 60, 761 4,692 20, 10, 253 February... 287, 738! 235, 022 46,388! 188,634 52, 716^64, 762194,195 61, 893 8,674 22, 078 6,798 A M p a r r i c l h 2 28 8 7 8 , ,1 9 6 6 1 7 1 1 1 2 2 3 3 5 8 ,6 ,0 2 3 8 2 1 4 46 7 , , 2 3 1 6 1 3 1 1 9 89 0 , , 8 2 2 6 1 5 4 5 9 2 , , 9 5 3 3 5 3 2 2 7 6 0 8 , , 1 3 3 6 3 4 2 2 0 0 0 3 , , 1 3 7 2 2 3 6 6 2 3 , , 7 2 1 5 5 6 3 5 , , 4 5 7 5 7 4 2 2 3 1 , , 3 81 5 5 7 4 5 , , 3 05 6 5 9 May ,446!236, 937 48, 643 188;,,294 51,1509 275,165 206, 890 64, 931 3,344 22, 323 2,896 June 292, 8831236, 349 47, 790 188;,,559 56,534 279, 079208, 855 65,223 5, 00123,180 3,472 July 289, 651233. 820 47, 072 186,748 55,831 275,138206,939 65, 419 2,780 22, 746 3,680 August 295,753 238, 421 46, 978 191,443 57, 332276, 551206, 89 64, 805 4, 85622,873 3,605 September.. 304, 730 !246, 914 46,080 200, 834 816 286, 669218, 256 64, 555 3,858 24, 504 4,676 October 322, 683| |265, 536 49,558 215, 978 147 303, 287232,698 67,415 3,174 25, 624 5,104 November.. 332,136j|275, 730 58, 00229' 217, 701 400 313,459242, 66" 68, 520 2,272 26, 325 4,442 December.. 332,768|269,817 57, 8"46 211, 971 951 316,496238, 043 70, 514 7,939 26, 267 3,357 January 326, 840 !262,733 55,433 207,300 64,1107 318,7521240, 645 73,050 5,057 26, 265 4,106 February... 328, 703 1265,688 57, 1,371 63, 0C15 316,964 242,034 73,469 1,461 26, 875 3,139 March 337, 012 1268,509)! 56, ,909 68i 503 324, 871241, 694 75,111 8,066 26, 806 3,484 April 335, 43811263,609 5fS 591208,018 71,829 322,066 232, 692 75, 493 13,881 25,407 4,355 May 321,9701(251,026! 52, 709 198,,317 944 307, 070!222,868 75, 068 9,134 24, 238 6,342 June 319,009)1248,509 53,461195,048 500 298,075!219,279 74, 695 4,101 23, 987 8,011 July 315,919)J248,558 54,404194,154 361 291, 092212, 082 74, 585 4,425 22, 278 11,251 August 319,194! 254,766 54, 0,129 428 286,674 208, 252 74, 709 3, 71321, 560 15, 323 September. 330, 8441 265,271' 58,490 206, 781 655,, 557'3 303,101 222,4071 75,010 5,684 23, 892 12, 082 October 348,53611281,283 62, 761218, 522 67, 2~53 326, 696j245,246 n7c5 , o81in9 5,631 26,805 8,032 November.. 357,2311)290,927 , i25 222, 602 66,304 337,162!256, 523 78,005 2,634 27,872 5,996 December.. 366, 785: j295,120! '0, 201 224, 919 71,665 346,125;258, 727 82, 561 4,837 27,332 6,061 January 358,398)|285, 66, 827 218, 66372,908 342,494 249, 715 86, 539 6,240 26, 389 3,772 February... 354,273] 1284, 68, 389 215i,,701 70,183 340,175 243, 816 90, 895 5,464 25, 792 3,689 March 347, 541! 277, 66,308 211,530 69, 703 330, 2261233,547 89, 478 7,201 25, 377 3,537 April 343, 435J 276, 66,178 2101,,184 67,073!324,06l|229, 092 86, 742 8,227 25, 346 4,316 May 328, 387! 65, 548 198, 7< 64, 097J308,194 217, 551 85, 325 5,318 23, 785 5,154 June 323, 451! 64, 216 199, 60,182305, 300 S214, 597 87, 283 3,420 23,626 4,542 July 320, 515! 262,2111 63, 627 198, 58, 304 302, 813212, 250 87, 474 3, 08923,138 5,155 August 323,295) 265,-460 63, 504 201 57, 835 306,165 213,376 90,031 2,758 23,141 7,523 September. 331,5811271, 63,795 207, 75560, 031 319, 748 |224, 90990, 782 4,057 25,011 5,515 October 340, 649 i 1277, 62, 615214,791 63, 243 337, 715 1241, 51290, 676 5, 527126, 928 1,842 November., 353, 425! 287, 64,474 223, 33865, 613 355, 048 [259, 49291, 339 4,217 28, 340 1,682 December. _ 367, 032 i 1298, 7700^, 019 228, 88068,133)370,067 276,398 90, 685 2,984 30,117 2,601 1925 January.. 373,041! 1302, 260 70, 015 232, 245 70,781376,117 281,470 92, 348 2,299 31,026 2,465 February... 381,60811311, 846 | , 238, 049 385, 318M288,332 95, 207 1,779 32,245 1, 761 March 389,652'1314, 731 78,169 236, 562 391,9031291,018 94, 810 6,0751 31,305 914 April 379, 817j|301, 837 482 2255,, 355 980 378, 920! 276, 035 94, 066 8,819 29,985 488 May 367, 36511290,628 j74, 343216, 285 76, 737 362,186 263, 264 93,157 5, 765j 28,596 1,116 June __ 363,156!1287, 8901173,8132-1-4-,, 0,.7.7, 75,266 358, 857; 259, 825 94, 453 4A ,5K'TO o2n9, 9ri5K0n 1,480 July 361, 725! 1288, 5891!78, 453 210,136 73,1361354,074!;255, 601 95,135 3,338 28, 796 1, 630 August 364, 4371 289, 547 |81, 0452r08, 502 74, 890 352, 29911254, 22395, 788 2,288 28, 564 2,789 September.. 373, 425! 298, 526 82, 245216,281 74,899 366,305!i265,340 95,134 5,831 29, 086 2,941 October 389,746:1311,102 83, 420227, 682 78,644 381,509)1279,484 96,187 5,838 29, 787 5, 324 November,. 395,471i|316,635 81, 369 23155;, 26678,836 382,,773 283, 890 96, 049 2,834! 30>736 7,918 December. _ 396, 634! 320, 247 81, 345238, 902 76,3871386, 283, 797 %, 976 6,372 30,326 7,824 January... 395,104! 321, 020 84, 904 _23J6, ,116 74,084 386, !282,006 97, 227 7,710 29,344 6,227 February.. 395, 981 j {320, 783 84, 230236, 553! 75,198|387, |279, 574100, 542 7,566 31,032 3,933 March 394, 908 1315, 810 86,161229, 649 79, 098 385, 276, 403 99, 862 8,844 29,125 3,759 April >, 148j 311,994 81, 852 2' 30", 14177,154 379, 270,790 100,186 8,042 29, 521 2,764 May 383,84311307,095 78, 092 2i 29,,003 76, 748 370, 849 672 98,942 6,235 28, 830 3,458 June 380,682| 1303,950 75, 003 228i,, 99447 76, 732 369, 549 701'l01, 036 5,812 29,457 4,106 July 373,9331298,854 73, 039 225, 1", 81 £75,079 361,015 463 j 101, 207 4,345 27,407 6,495 August 381,6271304,957 74, 918 230,039 76, 670 360, 599 6341 99,499 3, 46628,676 7,848 September.. 390, 778 313,624 74,628 238.,, 996 77,154 368, 879! 947! 99,288 6,644 28,252 12,199 October 399,180 320,861 76, 596244,265 78,319 381,824! 636 100, 844 7,344 28,148 11,123 November ;398,697 320,776 77, 278243, 498 77, 921 377,860| 274,1261100,112 3,622 29, 824 12,161 December 395,340 318,801 76, 642242,159! 76,539 379,440! 274^8101100,111! 4,519 30,276 6,721 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN DALLAS—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS to [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Reserves Borrowwith ings from Due to Due Date (Wednesday) Loans Federal Federal bank from Total I m nv e e n st t - s Total de N m e a t nd Time G m ov e e n r t n- re b s a e n r k ve re b s a e n r k ve banks On se- Total curities All other 1926 Jan. 6 _. 117,258 96,834 17,499 79,335 20,424 104,920 81,286 18,200 5,434 8,819 3,759 27,470 13 _._. 115,821 95,497 17,993 77,504 20,324 103,268 80,463 17, 751 5,054 7,859 3,926 35,842 29,606 20 _ 117,389 93,279 17,686 75,593 24,110 103,534 80,412 18,068 5,054 7,827 3,329 34,211 27,056 27 115,323 93,008 17,790 75,218 22,315 102,626 79,307 18,265 5,054 3,562 32,470 25,448 Feb. 3 114,397 93,165 17,860 75,305 21,232 103,053 78,817 19,183 5,053 2,450 33,712 26,006 10 ....: 113, 766 92,139 17,982 74,157 21,627 102,236 75,884 21,300 5,052 7,376 2,100 31,605 26,569 17 114,243 92,657 17,152 75,505 21,586 104,401 78,840 20,507 5,054 8,817 2,090 31,466 27,033 24 115,649 93,533 17,903 75,630 22,116 102, 852 77,146 20,654 5,052 2,090 31, 576 23,831 Mar. 3 113,922 91,724 19,013 72, 711 22.198 102,608 78,467 19,087 5,054 8,310 3,054 29,147 28,477 10 113,483 91,284 19,380 71,904 22.199 99,983 76,501 18,429 5,053 7,507 1,456 27,777 22,879 17 118, 734 91,621 19,442 72,179 27,113 104,838 79,268 18,343 7,227 7,672 1,185 26,945 22,522 24 113,945 88,600 19,276 69,324 25,345 100,185 76,086 18, 518 5,581 6,837 1,340 26,597 21,153 31 111,398 88,073 19,200 68,873 23,325 75,558 17,462 5,581 6,255 27,317 22,160 Apr- k:;::::::::::::: 111,006 88,092 19,274 68,818 22,914 99,808 76,866 17, 362 5,580 8,429 600 29,701 22,901 108,727 87,162 19,191 67,971 21,565 99,305 76,363 17,361 5,581 8,009 26,903 26,118 21 109,552 19,495 69,485 20,572 97,428 74,809 18,029 4,590 8,009 750 25,414 21,761 28 109,310 19,449 69,490 20,371 95,476 72,911 17,974 4,591 7,386 1,400 24,861 21,066 May 5 111, 123 90,334 19,001 71,333 20,789 97,182 74,805 17,969 4,408 6,914 1,675 27,220 22,402 12 108,208 88,114 20,065 68,049 20,094 97,002 74, 721 18,095 4,186 7,386 1,055 24,655 25,304 19 106,909 87,443 19,903 67,540 19,466 74,316 17,850 3,664 7,062 50 23,845 22,670 26 _ 106,680 87,649 19,901 67,748 19,031 94,878 73,588 17,773 3,517 7,508 175 24,874 21,495 June 2_ 105,811 86,517 19,258 67,259 19,294 94,954 73,628 17,809 3,517 8,060 540 26,179 24,013 9 105,363 86,057 19,108 66,949 19,306 94,003 72,659 17,827 3,517 6,872 798 25,174 25,133 16 105,871 87,375 19,078 68,297 18,496 96,608 75,292 17,799 3,517 7,434 620 23,992 26,183 23 106,144 85,684 19,171 66,513 20,460 94,548 72,697 18,334 3,517 7,642 1,552 22,568 22,504 30 104,075 84,603 19,524 65,079 19,472 94,104 74,576 16,451 3,077 290 26,388 24,404 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

July 7 101,554 82,854 19,073 63, 781 18,700 91,097 1 71,776 16,398 2,923 7,245 191 26,775 24,614 14 101,808 83,542 19,227 64,315 18,266 95,422 76,100 16,633 2,689 7,444 125 25,206 25,622 21 103,410 85,151 19,547 65,604 18,259 94,440 74,770 16,981 2,689 7,851 979 24,756 21,619 28 104,703 85,436 19,412 66,024 19,267 93,420 74,415 16,316 2,689 7,259 732 25,327 21,633 Aug. 4 105,268 85,582 19,736 65,846 19,686 92,685 73,714 16,282 2,689 6,726 961 25,051 19,963 11 104,999 85,620 19,523 «, 66,097 19,379 94,401 75,644 16,403 2,354 7,750 966 24,135 21,365 18 107,328 87, 553 20,002 67, 551 19,775 95,433 76,498 16,819 2,116 7,432 1,475 24,548 18,965 25 108,000 88,459 20,114 68,345 19, 541 92,037 73,541 16,887 1,609 7,581 3,650 22,552 18,423 Sept. 1. 107,368 88,474 19,976 68,498 18,894 91,108 72,761 16, 738 1,609 7,177 4,243 23,100 21,424 8. 107,802 88,708 20,009 68,699 19,094 91,546 73, 582 16,355 1,609 6,690 3,543 26,139 22,789 15. 112,431 91,272 20,105 71,167 21,159 100,364 78,052 16,432 5,880 8,688 4>097 25, 718 26,313 22 114,012 94,284 19,912 74,372 19, 728 96,918 74,028 17,017 5,873 7,006 4,264 28,009 24,552 29. 113,238 93,960 19,841 74,119 19,278 98,222 75,623 16,716 5,883 7,983 4,721 30,427 26,995 Oct. 6. 112,283 93, 571 19,975 73,596 18, 712 98, 736 76,917 15,936 5,883 7,173 3,765 33,347 29,038 13 113,450 94,781 19,802 74,979 18,669 100,992 80,034 15, 558 5,400 7,260 2,573 34,638 32,201 20. 112,943 93,975 19,571 74,404 18, 968 98,864 78,297 16, 720 3,847 7,299 3,173 31,287 25,324 27. 113,223 93,968 19,769 74,199 19,255 96, 743 76,766 16,707 3,270 8,327 6,266 31, 784 26,062 Nov. 3. 112,138 93, 550 19,752 73, 798 18, 588 94,404 75,501 16,256 2,647 6,613 4,910 33,357 30,622 O 10. 110,139 91, 760 19,777 71, 983 18,379 94,958 75,961 16,219 2,778 7,993 4,076 34,553 28,876 17. 110,198 92, 716 19,903 72,813 17,482 95, 537 77,316 16,276 1,945 7,892 4,501 33,705 30,734 24. 110,714 93,299 19,924 73, 375 17,415 94, 517 76,393 16, 373 1,751 7,992 4,064 33,469 26,045 Dec. 1. 108,931 91,632 19,878 71,754 17,299 93,352 75,071 16, 530 1,751 7,421 3,548 32,258 27,138 8. 108,919 91,624 17,905 73, 719 17,295 94,029 75, 568 16, 710 1,751 7,386 2,370 33,494 26,451 15. 109,605 92,118 19,592 72,526 17,487 97,907 77,522 16,800 3,585 8,304 975 32,495 28,509 22. 114,649 93,103 19,731 73,372 21,546 98,320 78,032 16,703 3,585 7,849 809 31,983 25,255 29. 108,615 91,283 17,864 73,419 17,332 96,824 75, 614 17,625 3,585 7,603 70 31,468 24,191 Ox Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

454 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181] Total for 10 centers i Austin, Tex. Month 1926 1925 1926 January 650, 395 647, 947 557, 401 21,181 25, 851 21. 520 February 554, 225 564,474 484, 322 19, 588 21, 767 18, 962 March 603, 063 603, 724 483, 910 20, 789 32, 880 18,087 April 553, 791 518,184 474, 942 20, 798 23,762 18, 779 May 516, 892 496, 796 456,511 16.570 19,148 14, 754 June 546, 463 513, 957 437. 431 19, 835 16,279 12, 556 July 571, 088 518.151 445, 499 16, 584 14. 874 13, 400 August 543,104 500. 676 440, 211 14. 327 15, 899 13, 385 September 644, 424 593, 272 £57,916 20,176 19, 082 21. 020 October 690, 089 684, 766 658, 516 23,172 20, 986 23, 365 No vem ber 621, 781 617, 555 575, 760 22, 346 19. 032 19, 979 December 678,852 ! 669,918 I 654,542 22, 554 19, 252 22, 355 Total. 7,174, 167 j 6, 929, 420 I 6, 226, 961 237, 920 248, 812 218, 162 Beaumont, Tex. Corsicana, Tex.* Dallas, Tex. Month 1926 1925 1924 1926 ! 1925 ! 1924 January 19,078 ! 18, 912 17,734 I 10, 430 10,175 254,109 February | 21,035 ! 17, 685 15,913 I 6,942 7,942 207, 691 March. 955 i 17,269 16,707 ! 7.734 ,417 215, 835 April 166 I 17,815 17.442 ! 6,742 i 8,020 192, 282 May 674 | 18.273 16,124 ! 5,944 7,713 180, 898 June 005 j 18.187 18,462 ! 6,437 7,818 189, 309 July 226 ! 17,392 17,364 ! 6,338 7,158 196. 298 August 637 | 16, 282 15.624 i 6.341 6,111 181,413 September.. 640 | 17, 208 15,050 6,945 8,242 225,144 October 404 18, 600 17,329 ! 6.797 9,653 241. 947 November. 058 16,722 14,988 : 6,486 ' .181 221, 227 December i 25,053 19, 408 16, 561 9,244 12, 103 235, 902 Total ! 258,931 j 213,753 j 199,298 86,380 101,317 101,533 2.542.055 2,526,514 2.178,745 El Paso, Tex. Fort Worth, Tex. Galveston, Tex.* Month 1924 1926 January ; 34,761 35,127 31,677 ! 85. 363 91, 940 76, 410 50, 957 58, 018 February 33,714 31,514 33,107 : 73, 873 70, 889 63, 745 35, 500 47, 321 March 36.847 34, 667 34,481 80, 326 74, 672 63, 998 38, 439 45, 877 April 31.731 30, 240 31, 250 75, 230 68, 096 67, 689 37. 029 37,192 May : 30,741 30,119 32.484 73.337 66, 444 63,183 31.039 35. 729 June 29,846 31, 980 36,325 | 79,318 68. 761 60, 333 33, 921 32, 820 July 28,945 31, 525 33,715 ! 92. 287 73.692 65, 964 41,130 33, 994 August 26,856 j 27, 479 29,800 i 86, 864 67, 937 62, 595 45, 649 37, 038 September 28,017 | 29, 526 29,523 88, 064 66, 536 75, 385 53,202 44. 659 October 32,350 j 36. 805 35,670 ' 93, 997 89, 524 95, 657 64, 042 57. 940 November 32,632 [ 38, 066 32,856 91, 057 80, 0™7 0! 81, 292 52, 844 58, 890 December_.._- 35.048 ' 40, 379 38. 268 90, 102 85, 410 59. 149 53, 479 Total.. : 381,488 l 397,427 | 399,156 1,018,412 i 908,663 861,661 542, 901 542, 957 533,910 i Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summarv of 141 renters. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

455 DISTRICT NO. 11 DALLAS No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Houston, Tex. Port Arthur, Tex.* Roswell, N. Mex.* Month 1926 1925 1924 1926 1925 1924 January... 151,975 151,414 129,103 9,097 8,843 3,584 2,994 2,314 February,. 124, 867 144, 491 114,001 8,773 8,380 2,742 2,888 2,858 March 145, 719 149, 492 112, 693 8,932 8,657 2,835 2,598 2,448 April 140,238 123, 492 109,092 9,390 8,456 2,762 2,434 2,021 May 126,094 118, 450 104, 914 8,964 8,690 2,752 2,767 2,012 June 135,154 123, 945 101, 774 9,647 9,394 2, 757 3,370 2,412 July 142, 430 126,160 104, 677 9,860 8,889 2,760 3,436 2,838 August. 143, 443 136, 542 113, 324 9,009 8,769 3,748 3,260 2,233 September,. 179,456 166, 381 153,080 9,355 8,235 2,985 2,837 2,246 October 187, 980 165,009 164,001 9,664 9,155 3,755 4,083 3,340 November.. 158,247 150, 561 145, 980 9,169 9,002 3,904 3,775 3,411 December., 179, 633 160, 947 156, 713 10,080 9,941 3,817 4,181 3,610 Total |l, 815,236 1,716,884 1,509,352 \ 111,940 I 106,411 38,401 38, 623 31, 743 San Antonio, Tex.* Shreveport, La. Texarkana, Tex. Month 1926 1925 1924 1926 1925 1925 1924 January 40,041 40, 528 34,513 43, 045 42,171 39, 874 11,612 10, 904 8,422 February.-, 37,069 36, 707 30, 684 38, 808 37, 321 35, 789 9,902 9,231 7,984 March 39,621 |35,866 32,013 44,281 38,417 35, 569 12,166 9,100 10, 650 April 38,222 I 36, 723 32, 707 39, 359 36, 544 36, 762 10, 230 8,969 7,401 May 39,949 41,170 33,168 36, 986 36, 548 35, 666 10, 650 8,313 8,500 June 42,541 I43,498 33,990 38,117 35,412 33, 560 10,966 10,016 7,339 July 40,617 !37, 769 31,082 41,047 37, 550 34,431 10, 293 8,885 6,802 August 41,991 |35, 684 35, 405 37,318 36, 590 30, 281 9,447 9,165 7, 450 September.. 45,105 36,091 36, 755 40,799 45,227 32,446 10, 605 9,726 8,173 October 43,999 41,215 40, 268 44, 023 46, 097 39, 274 10, 494 10, 054 10,481 November.. 41,919 I 36,476 37,195 37,155 39,380 33, 894 8,700 8,844 7,598 December.. 44,693 I 40,143 36, 315 42,964 42,908 40,487 10,513 10,136 11,872 Total. > I 483, 902 474,165 428, 033 125, 578 113,343 102, 672 Tucson, Ariz. Waco, Tex. Wichita Falls, Tex.* Month 1926 1925 1926 1925 1924 January 9,242 9,255 7, 693 20, 029 25, 474 21,422 33,859 31, 649 February... 8,613 8,107 7,941 16,134 19, 797 18, 409 37, 594 29, 771 March 9,422 8,746 8,361 15,723 18, 913 17,883 35, 377 31, 680 A pril 9,171 8,739 8,408 14,586 16, 065 15,015 31,410 30, 384 May 9,070 8,844 9,975 12, 872 14, 876 14,470 32, 451 33,550 June 9,824 9,742 8,380 14, 089 15,341 13,183 33,114 32, 440 July 8,625 8,568 7, 596 14, 353 14, 856 14,272 36, 500 31,791 August 7,622 7,209 6,992 14,177 14, 804 15,660 30, 227 25,956 September.. 8,459 8,554 7,206 20,064 19, 040 25, 243 31,143 27,550 October 9,564 9,971 9,414 22,158 21, 883 27, 210 34,481 32, 264 November.. 9,704 9,799 9,519 18, 655 19,886 21, 527 32, 254 29, 641 23, 295 December. _ 9,887 11,356 10,115 18, 602 20,034 23, 988 34, 520 33,258 28,558 Total. 109, 203 108,890 101, 600 201,442 220,969 228, 282 402, 930 369, 934 51, 853 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

456 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES 1 IN DALLAS, EL PASO, AND HOUSTON DALLAS [Rates prevailing during week ending with 15th of month] Loans secured by Month m l P o c e r a o i r n m m c s ia - e 2 l I l b o n a a t n e n r k s - c p h r a i n m g e e s c t o o l c l k at e ex ra - l b s y L h ec o o w u u a r a s n e r e s d e- C lo a a t n tl s e receipts Demand Time 1926 January 4 -6 5-6 6-8 February 4 -6 6-7 6-7 6-8 March 4 -6 5-6 6-7 6-10 April 5 -6 6 6 6 May 4 -6 5-6 5-7 6-8 June 4 -5 6 6-7 6-8 July 5 -6 5-7 5-7 5 -7 7-8 August 35 -6 86 36 5 -7 6-7 September 5 6-7 6-7 5 -7 6 October 5 6-7 6-7 5 -7 6 November 5 6-7 6-7 5 -7 6 December .. 5 6-7 6-7 5 -7 6-7 EL PASO January... 5 -8 6 -8 8 6-8 7 -8 8-9 February.. 4-8 6 -8 8 6-8 8 8-9 March 6 -8 6 -7 8 8 8 8 April 5}4-8 6 -7 8 6-8 7 -8 8-9 May f-8 6 -8 7-8 7-8 7 -8 7-10 June _ 6 -8 6 -7 8 6-8 8 8-9 July 6 -8 6 -7 7-8 6-8 6 -8 8-9 August 8 6 -7 8 8 September. 8 6 -7 8 6-8 October.. . 8 6 -7 8 7 -8 8 November. 8 6 -7 8 7 -8 6-10 December. 8 6 -7 8 7 -8 6-10 HOUSTON 1926 January 5 -6 5 -6 5-6 5-6 5 -8 6-8 February 5 -6 5 -6 5-6 5-6 5 -6 6-8 March 5 -6 5 -6 5-6 5-6 5 -6 6-8 April 5 -6 5 -6 5-6 5-6 5 -6 6-8 May 5 -6 4}4-6 4-6 5-6 5 -6 6-8 June 5 -6 5 5-6 5-6 5 -6 6-8 July 5 -6 5 5-6 5-6 5 -7 7-8 August 5 -6 5 5-6 5-6 5 -7 3 6-8 September 5 -6 5 5-6 5-6 5 -7 7-8 October 5 -6 5 5-6 5-6 5 -6 7-8 November 5 -6 5 5-6 5-6 5 -6 7-8 December 5 -6 5 5-6 5-6 5 -7 6-8 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January- May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. 3 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 12—SAN FRANCISCO No. 1—CONDITION OF FEDERAL RESERVE BANK [In thousands of dollars] Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1926 1925 1924 1923 RESOURCES Gold with Federal reserve agent _ 185,587 207,692 200,753 225,808 Gold redemption fund with United States Treasury 2,960 3,817 2,438 5,034 Gold held exclusively against Federal reserve notes 188,547 211,509 203,191 230,842 Gold settlement fund with Federal Reserve Board 29,760 33,170 44, 387 45, 854 Gold and gold certificates held by bank. _ 39,942 34,825 26, 686 21,978 Total gold reserves -- 258.249 279,504 274, 264 298, 674 Reserves other than gold - ± 6,621 6,315 3,782 2,328 Total reserves 264,870 285,819 278,046 301,002 Nonreserve cash 3,761 3,991 3,733 3,577 Bills discounted: Secured bv United States Government obligations 7,632 5,720 7,058 11,899 Other bills discounted _ _ 26, 568 18, 764 8,684 41,215 Total bills discounted 34,200 24,484 15,742 53,114 Bills bought in open market _ 31, 374 31, 771 54,#068 38,059 United States Government securities: Bonds 92 468 3,180 Treasury notes 14,872 28, 762 37,282 9,185 Certificates of indebtedness 25,703 20,708 14,681 Total United States Government securities 40,667 49,938 55,143 9,185 Foreign loans on gold.. -- 546 456 Total bills and securities.. _ 106,241 106, 739 125,409 100,358 Uncollected items 45,767 40,541 35,841 42,135 Bank premises - 3,397 3,217 3,275 2,770 All other resources - - 1,192 3,530 4,142 4,102 Total resources. 425,228 443,837 450,446 453,944 LIABILITIES Federal reserve notes in actual circulation. 187,109 208,126 215,030 229,082 Deposits: Member bank—reserve account 163,332 164,910 167,192 152,488 Government 532 2,062 3,637 3,015 Foreign bank _ _ __ 1,943 578 140 116 Other deposits _ 5,855 5,977 4,677 4,813 Total deposits 171,662 173,527 175, 646 160,432 Deferred availability items 41,511 37,401 35, 296 39, 676 Capital paid in _ . __ _. _ 8,656 8,238 8,113 7,862 Surplus 16,121 15,071 15,071 15,301 All other liabilities _ 169 1,474 1,290 1,591 Total liabilities. _ 425,228 443, 837 450,446 453,944 Ratio of total reserves to deposit and Federal reserve note liabilities combined (per cent) 73 8 74 9 71 2 77 3 Contingent liability on bills purchased for foreign correspondents 3,895 4,923 3,244 1,349 457 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

458 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2.—PRINCIPAL ASSETS AND LIABILITIES OF FEDERAL RESERVE BANK, BY WEEKS [Amounts in thousands of dollars] Bills discounted for member banks Fed- Date T r s b a i e o t i n c i l t e d l u a s s - l Total c u m G e u S b r . o e r e y n e n v - s - d t - . c O o b d t i u i h l s n l - e s t r - b o m o B k p u i i a n e l e g t r l n s - ht U s S e n t t c i a i e u t t s e r e i s d - l e g F o o i o a o g n l n r n d - s s T c e r o a r e v s t - a h e l s b p M s a o e b d re n r e s e e v - - i m r k t e s s - ' p T o d o e s t - i a t l s s n c e e c o u r i r r e i n t l a r v - e a - l e s - s c a p e R e g e r e n e v r - t - s e ob- ed tion ligations 1926 Jan. 6 111,236 30, 667 9,695 20,972 30. 105 49, 939 525 284, 453 169>, ,< 410 1763,88 205, 797 74.4 13 104, 953 25, 227 " "" 15,531 29, 296 49, 940 49..0 2.8.2., .3..9 7 16»9,, 0(65 177,407 196, 3571 75.6 20 108, 419 32, 068 14, 749 17, 319 25, 955 49, 941 455 276,248167,605 175,399 194, 200! 74.7 27 108, 53" 34,413 16,065 18,348 24, 226 49, 443 455 268,529|164:,, ;369171,048 189, 632! 74.5 Feb. 3 103, 925 31, 247 16,643! 14,604 25, 067 47,163 448 272, 978! 164, 061171,582! 190, 658! 75.4 10. 90,485 20, 626 8,385j 12,241 23, 985 45, 363 51128177,;,396165,944 173,384J189, 370i 79.2 17 90, 640 22, 555 10,968 11,587 22, 452 45,143 490 29•33,,1660172,167 180,966! 188, 564 79.5 24 92, 784 25, 459 8,628 16,831 22, 886 43,942 497 284,015 161,774 172, 313|188,103 78.8 Mar. 3 111,112 41,57 7,561 34, 015 24, 991 43, 945 600 260, 679 157, 057 165, 742J190, 671/ 73.1 10 112,387 37, 545 8,167 29, 378 24, 592 49, 643 607 256, 540 156, 982 165, 882 187,110 72. 7 17 105,198 49, 814 20,462 29, 352 22,646 32, 207 5to3i1 O2C5A9 , f9i5c5ch 1C5C6 , O2o2r_0 11 6C4A , 2rt7^r2c ti1iO8A4 , n6.443<~* 7n4 A .5_r 24 123, 686 62, 063 29, 871 32,192 20.498 40, 573 552 249, 759 159, 168 174, 726 181, 992| 70.0 31. ______ 115, 769 49, 026 17, 522 31, 504 21, 567 44, 590 586 262, 365 160, 274 179, 761)182, 2421 72. 5 Apr. 7 114, 361 45, 667 17, 587 28, 080 22, 340 45, 74' 607 259,,1 8_5 159, 355 170, 473 187, 415! 72. 4 14, 115,813 41, 745 23; 553 18,192 24, 691 48, 777 600 258, 688 164, -7-8' 2 173, 341185,777 72.0 21 125,110 51, 461 27, 932 23, 529 23, 251 49, 798 600 243,02416O,O82| 167, 601183, 655! 69. 2 28 119, 59146, 352 21, 292 25, 060 22, 880 49, 800 559 245, 834 158, 840J167, 231182, 464i 70. 3 May 5. 124. 473 55, 952 24, 944 31,008 18, 203 49,800 518 246, 97r!8 161,012 169, 348 18.55,, 77117! 69.6 12 115,491 46,184 23, 398 22, 786 18, 996 49, 800 511257,430162,717 170.,1 4_5 -18 5, .51558,5587!2.4 19 114,118 44, 228 24, 441 19, 787 19, 579 49,800 511 255,165 159,113 168, 364 185, 746' 72.1 26 116,167 45,171 '21, 720 23, 451 20, 683 49, 802 511 252, 780 159, 375 167, 889 184, 245J 71.8 June 2 116, 031 40, 728 18, 467 22, 261 23, 792 50, 897 614 260, 714 163, 563 170, i, 909172. 3 9 109, 820 33,134 12, 452 20, 662 23, 405 52, 721 580 265, 654 160, 896 167, 'l,307J 74.1 16 107, 447 37, 278 14,445 22, 833 25,143 44, 508 518 268, 683 163, 647170, 369 190, 258! 74.5 23 114, 359 39, 996 15, 348 24, 648 24. 095 49, 8061 462i 255, 734 158, 661165, 213 188, 362| 72. 3 30 108, 367 34, 202 10, 500 23, 702 23, 97' 49, 806 380 266,248 161, 896 168, 257 190, 581!74.2 July 7 118,605 46,175 19, 049 27, 126 22, 541 49, 551 338 262, 778 160, 286 166, 827J200, 055! 71.6 14. ___ 118,969 46.977 23, 848 23,129 21, 964 49,807! 221J262, 249 163, 574 171, 9101192, 308; 72.0 21 116,570 45,478 21, 554 23,924 21,078 49, 807i 2071'"2 61, "0"0 5" 1"6 33;69|172, 370 189,1971 28 118, 662| 48,448 21, 851 26,597 20,317 49, 8071 60 248, 569 165,714,185,372! Aug. 4 117, 989 46, 775 22, 274 24, 501 21, 407 49.807J- 250, 60sl 157, 762 164:,576!l88,527; 71.0 11 115, 75344, 292 21, 256 23, 036 22, 354 49,107;- ____ 257, 6001161, 169,8731188,791! 71.8 18 113, 854 39,647 21,128 18, 519 26,171 48,036!- 263,2291163,575 117722,, 681 190, 080! 72.6 25 118, 600 49, 764 27, 375 22, 389 26, 552 42, 2841 .____ 257,7271163,332 171,628189,1431 71.4 Sept. 1 131, 847 64, 069 35, 297 28. 772 25, 997 41, 781 - 248,816]163,604 172!,, 739 191, 095 68.4 8 127, 209 60, 722 32, 482 28, 240 26,165 40,322- 256,198! 166, 432172, 938 196, 560J 69.3 15 122,133 50, 848 23, 835 27, 013 27, 918 43,367- 1259,187J170, 471 1176,6711192,489! 70.2 22 127, 742 61, 578 29, 724 31, 854 27, 297 247, 907 164. 333 ~1"7 :544 189, 727i 68.4 29 132, 847 32, 929 35, 765 26, 598 37,555! 246,194 165, 323 173i'',, 5590 188, 023! 68.1 Oct. 6 129, 272 65, 000 26, 763 38, 237 25,403 38, 869 .251,967 168,162 1-74, 765 190, 070: 69.1 13 128, 380 64, 867 25, 066 39, 801 24,644 38, 869! 257,601 169,133 v"8,162 191,317 69.7 20 123, 044 56,200 20, 337 35, 863 27, 976 38, 868 _ 257, 893 167; 527 1_75,648 189,412 70.6 27 128, 271 62, 534 20,155 42, 379 26, 869 _j250, 513J166, 245 '1"4, 3111187,737 69.2 Nov. 3 130,194 63, 901 24, 746 39,155 27, 425 38, 868 - 253, 655 167, 988 176, 393 69. 0 10 124, 389 56, 323 23, 528 32, 795 29,197 38, 869 _ 716 166, 696 174, 029 70. 7 17 118, 386 50,! 18, 608 32, 282 28, 62" 38, 869 _ 263^ 800 170, 473 180, 420 188', 342' 711.. 55 24 113,249 45, 645 21,171 24, 474 28, 809 38, 795 _ 266, 738 168, 897177, 041186,133; '3.4 Dec. 1 114, 391 47,132 27, 475 19, 65' 28, 492 38,7671. 264, 876 170, 458 18, 554 185, 558i 72. 7 8 111,887 42, 631 21,125 21, 506 29, 046 40,210. 268,175 169, 803 1788,J 6 68855 118877,| 291! 73.3 15 106, 304 38, 249 13,433 24, 816 30, 560 37,495 L 274, 269 170, 8341 77",534 188,355! 75.0 22 126, 720 54, 237 21,134 33,103 32, 726 39, 7571- 249, 694 166, 254174, 422 192, 315! 68.1 29 118, 913 48,148 10, 971 37,177 31— 39, 7571 _ 264, 075 173,171180,8841187,211! 71.7 Daily average: 1926 117,199 46, 690 25, 267 44, 958 284 259, 289 163, 319 1171,852 189,973 71.7 1925 111,286 39, 460 28, 729 42, 434 663 268, 914 158] 635 166, 432 201,138 73. 2 1924 88, 964 30, 060 17.8561 41,011 _ "" """ ' '158,686 208,868 79.3 1923 _ 107,616 63,006 24, 638 19,972J_ >; 065 143, 564 150, 921 212, 280 73. 0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 3.—DISCOUNTS AND PURCHASES OF BILLS AND SECURITIES BY FEDERAL RESERVE BANK: VOLUME, BY CLASSES [In thousands of dollars] Bills discounted for member banks' Bills bought in open market United Bills United States Month p d u is T r c c a o o h n t u a a d n s l e ts s Total c M o n b l e l o a m a t n t e e b k s r e a r l c E o b u e i d n ll i t s s e - d Total o B u o tr u i g g h h t t agr r W e e i s e a t m l h e e nt fro F b r b m e e o a s d u e n e g o r k r v h t s a h e t l er s m i e b n S c a o t u r u o a r k g t p i e t e e h i s n t t e 2 s f s ro F e b r m e c e o s u d u e r e g o r i r t v h t i a h e t e l e s r l F o o g a r n o e s l i d g o n r banks 1926 January... 130, 018 108, 666 101,945 6,721 20, 326 10, 633 9,693 1,009 3 14 February. 127, 318 108, 259 100. 851 7,408 18,400 10,179 8,221 2 657 II March 284, 896 241, 514 228, 825 12, 689 21, 398 9, 659 11, 739 21, 839 145 o April 217, 903 175, 676 168, 381 7,295 29,167 11, 459 17,708 6,117 6,895 48 May.... 215, 240 189,426 179.519 9,907 24,488 12, 707 11,781 705 621 June 202,831 153,109 142, 570 10, 539 31,866 14, 397 17,469 17, 269 553 34 July..... 233, 967 197, 676 189, 048 8,628 24, 987 11, 756 13, 231 2,759 8,469 76 August. 251, 449 222, 417 216, 052 6, 365 26, 840 15, 142 11, 698 3 2,189 September _ 325, 079 279, 875 273, 614 6,261 27, 651 13, 085 14, 566 580 16, 973 October 308, 769 280, 708 274, 847 5,861 25, 647 12, 567 13,080 1,100 1,314 November. 284,918 249,108 241,169 7,939 30, 523 13,448 17,075 5,287 December.. 266, 654 211, 597 206, 298 5, 299 36,126 15,077 21,049 1,013 17, 699 219 "' Total: 1926 | 2,849,042 2, 418, 031 2, 323,119 94, 912 317, 419 150,109 107,310 3,702 89, 970 18,325 1,595 1925 | 2,488,049 2,152, 987 2, 089, 074 63, 913 280, 994 170,134 110,860 36, 033 15, 298 2,737 1924 1,203,826 929,140 667, 203 261, 937 176,933 176,933 95,145 2,152 456 1923 2,499,736 2,108, 963 1, 648, 812 460,151 225,162 225,162 3,203 161, 233 1,175 M Ul Q 1 Includes agricultural paper discounted for Federal intermediate credit banks. For amounts see note below Table 4. O 2 Includes special temporary certificates received from the Secretary of the Treasury as follows: 1926—June, $6,000,000, and September, $4,500,000; 1925, $2,500,000, and 1923, $161,000,000. Or CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

460 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4.—BILLS DISCOUNTED BY FEDERAL RESERVE BANK: VOLUME, BY STATES1 [Amounts in thousands of dollars] Member banks in district Month z A on ri a - 2 Utah Ne d v a a- Ca n li i f a or- OregonIdaho i W ng a t s o h n - Total Num- c b N o e m u r m m ac o - - ber at dated m e o n n d th of 3 during the month 1926 January.. 401 1,596 85,947 9,670 932 10,481 108, 666 736 174 February, 42 1,807 77, 517 9,788 639 18,466 108,259 730 155 . March.... 111 3,071 208,180 8,313 892 20, 947 241, 514 724 188 April 65 3,063 161, 717 6,485 1,178 3,1" 175, 676 724 197 May 83 9,446 162, 500 6,260 1,468 9,669 189,426 724 197 June 112 5,259 128,258 4,207 1,617 13, 656 153,109 726 204 July 154 3,0481. 173,392 5,312 1,825 13,945 197, 676 724 210 August.. 184 3,164|. 179, 52320, 562 1,150 17, 834 222,417 725 167 September. 84 4,053. 241, 28415,619 850 17, 985 279, 875 725 142 October 91 2,107j. 258,119 8,946' 743 10, 702 280, 708 723 108 November 81 2,215). 233, 594 5,025: 586 7,607 249,108 722 104 December.. 83 3,934. 189, 235 9,5711 686 211, 597 721 124 Total: 1926 1,130 42, 763| ... J2,099, 2661109, 758 12, 566 152, 548 21,,418, 031 1925. 2,202 52,091 80il,827,435; 84,381! 35,689151,109 21,,152,987 1924.... 1, 639 22, 293 37i 693,935] 63,468j 76,419 71,349 929,140 1923 3, 998 35, 792 283(1, 710, 698 107, 644127, 964 122, 584 21,,108, 963 Number of member banks at end of year:2 1926 299S 130! 150 721 1925 300J 134! 80| 156 740 1924 _ 300! 137J 101! 158 771 1923 319! 136! 110 165 809 Number of member banks accommodated during the year: 1926 331_ 134| 57 38 78 347 1925 138j 60 56 82 380 1924 341 1591 61 66 87 420 1923 38; 161! 63 83 101 460 1 Includes paper discounted for Federal intermediate credit banks, as follows: Federal intermediate credit bank of Berkeley, Calif., 1926, February, $650,000; May, $100,000; June, $550,000; July, $300,000: September, $400,000; October, $1,400,000; November, $1,360,000; and December, $1,200,000; total, $5,960,000. 1925, $900,000; 1924, $850,000; 1923, $2,000,000. For Federal intermediate credit bank of Spokane, Wash., 1926, April, $157,000; May, $31,000; June, $174,000; July, $676,000; and December, $265,000; total, $1,303,000. 1925, $751,000. 2 Figures relate only to that part of the State located in the San Francisco district. 3 Banks in actual operation. Figures prior to March, 1925, represent number of banks as shown by the capital stock records. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 12—SAN FRANCISCO 461 No. 5.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANK 1926 1925 1924 1923 Discounted bills $1,867,134 $1,408,353 $1,302, 272 $2, 786,349 Purchased bills 896,498 895, 703 582,182 1, 020,834 United States securities 1, 586,101 1,446, 767 1,476, 506 836, 761 Deficient reserve penalties.. 29, 211 22,930 25, 361 25,771 Miscellaneous 175,916 75,137 101, 610 i -54,488 Total earnings. 4, 554,860 3,8 3,487,931 4, 615, 227 CURRENT EXPENSES Salaries: Bank officers _ 237,479 244, 586 256, 013 262,456 Clerical staff. 1,077,110 1, 250,360 1,458,193 1,461, 516 Special officers and watchmen 79, 824 78,784 82,825 77,260 Allother 123, 746 131,427 147, 200 134,585 Governors' conferences 1,017 1,004 1, 28 1,148 Federal reserve agents' conferences 652 716 778 704 Federal advisory council- 3,200 3,200 2,600 2,665 Directors' meetings 22,330 29,092 23,681 10,973 Traveling expenses 2 26,371 36, 620 48, 689 36,398 Assessments for Federal Reserve Board expenses 49, 630 49, 684 46,469 49,448 Legal fees ._. 15, 030 9,282 10, 614 1,914 Insurance (other than on currency and security shipments) 38,910 42,123 42, 505 38,703 Insurance on currency and security shipments 31,026 31, 567 29, 683 30,391 Taxes on banking house 61, 777 54,477 3,115 3,115 Light, heat, and power 12,326 13, 296 13, 524 3,857 Repairs and alterations, banking house. 9,137 2,031 1,575 294 Rent. 109, 406 111,366 118,922 120, 629 Office and other supplies- 31,590 38,183 50,820 48,835 Printing and stationery __ 38, 218 46, 046 70,875 64,941 Telephone 14,970 17,863 19, 281 16,091 Telegraph 76,001 78, 547 81,933 83,664 Postage.. 122, 781 123, 235 124, 494 126,980 Expressage _. 22,900 24, 802 20,359 25,864 Miscellaneous expenses.._ 62, 983 40, 663 50, 501 47, 019 Total exclusive of cost of currency 2, 268,414 2,458,954 2, 705, 677 2, 649,450 Federal reserve currency, including shipping charges: Original cost _ _ 127,065 201, 514 125, 787 143, 293 Cost of redemption.. 9,765 20, 640 21,920 24,422 Taxes on Federal reserve bank-note circulation 3 -6, 338 Total current expenses. 2,405, 244 2, 681,108 2,853,384 2,810,827 PROFIT AND LOSS ACCOUNT Earnings. 4, 554, 860 3, . 3,487,931 4, 615, 227 Current expenses ^ 2,405, 244 2, 681,108 2,853,384 2,810,827 Current net earnings 2,149, 616 1,167, 782 634, 547 1, 804,400 Additions to current net earnings. 1,950 821 536 8,504 Deductions from current net earnings: Bank premises—depreciation 125, 754 138,390 127, 755 615,921 Furniture and equipment 99,430 61, 572 197, 776 324, 282 Reserve for probable losses 354, 291 452, 801 325, 000 Allother _. 16, 092 25,393 59,036 42, 275 Total deductions. 595, 567 678,156 384, 567 1,307,478 Net earnings available for dividends, surplus, and franchise tax 1, 555,999 490,447 250, 516 505,426 Dividends paid _ 506, 068 490,447 480, 561 467, 720 Transferred to surplus account 1, 049, 931 4 -230, 045 37, 706 Franchise tax paid United States Government. REIMBURSABLE FISCAL AGENCY EXPENSES Salaries... 3,586 6,634 23,202 86,384 Allother. 1,154 2,726 6,145 20,057 Total. 4,740 9,360 29,347 106,441 1 Debit. 2 Other than those connected with governors' and agents' conferences and meetings of directors and of the advisory council. s Credit. * Deficit in earnings after payment oi dividends, charged to surplus account. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

462 ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD No. 6.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1926 1925 1923 NUMBER OF PIECES HANDLED Bills discounted: Applications 6,689 : 7.708 9,344 16, 565 Notes discounted 28,264 ! 30,136 37, 212 57. 725 Bills purchased in open market for own account 31,346 i 26. 983 18,433 21, 771 Currency received and counted 111,583.000 98,574, 000 95, 857.000 83, 236, 000 Coin received and counted 79, 311, 000 54, 425, 000 44, 298, 000 32,070, 000 Checks handled 74.821.000 73,061, 000 74, 367, 000 65, 442, 000 Collection items handled: United States Government coupons paid 2,658,000 2, 993, 000 3, 676, 000 5, 389, 000 All other 343, 000 357, 000 351, 000 313, 000 United States securities—issues, redemptions, and exchanges by fiscal agency department 345, 000 613,000 1, 518, 000 i 10, 827, 000 Transfers of funds 140, 000 128,000 130,000 131,000 AMOUNTS HANDLED I Bills discounted : $2, 418, 031,000 $2,152, 987, 000 $929,140, 000 $2,108, 963, 000 Bills purchased in open market for own I account ! 317, 419, 000 280, 994. 000 176, 933, 000 225,162,000 Currency received and counted I 881, 019, 000 782. 218,000 753, 896,000 707, 765,000 Coin received and counted 1 42, 428, 000 31, 063.000 23, 425, 000 24, 767, 000 Checks handled 15, 627, 526, 000 15, 002, 811, 000 14, 645, 586,000 14, 066, 535,000 Collection items handled: United States Government coupons paid i 29,664,000 j 32,578,000 35, 743,000 41, 522, 000 All other I 315,267,000 269, 573, 000 290, 773, 000 278, 560,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 218, 985, 000 260, 294, 000 353, 309, 000 486, 429,000 Transfers of funds 12. 268, 428, 000 10,672,119,000 9, 568, 293, 000 8, 241, 696,000 1 Large total due to redemption of war savings securities which matured January 1, 1923. No. 7.—OPERATIONS OF FEDERAL RESERVE CLEARING SYSTEM [Figures include cash items only. Numbers in thousands; amounts in thousands of dollars] m m It e e e o m m m w b b s n e e d r r d r i b a a s n a w tr n d i n k c n t s o o n i n n - s o e I i n r t t e v s F m e b e s b r d a a e d n n r r c k a a h l w a e r n e n s d - ! | j | : F I th e te e d e b m d e i a r r n s t a o b k l f r s o o a r a r e n t w n h s c e e d a h r r r e v d s e - S It o t e a n m t e u s U s r n e d T i r r r t a e e w a d s n - Total i Month Num- Num- Num- Num- Number Amount ber Amount ber Amount ber Amount ber Amount 1926 January 5, 5551 779,313 413, 082 153 32,435 214 41, 677 S 5,932 1, 266, 507 February 4, 894| 671, 526 404,138 127 26,393 206 28, 8251 5, 234 1,130,882 March.__ 6, 007 j 843, 221 466, 436 152 35,0661 231 42, 036! 6, 399 1, 386, 759 April 5, 4201 773, 471 410, 515 145 30, 372 j 241 40,104! 5,815 1, 254, 462 ! May.. 5,311 750, 334! 378, 940 130 26, 7151 232 34, 713 5, 682 1,190, 702 June 5,753 804, 520 425, 940 149 20, 6671 223 47, 661! 6,135 1, 298, 788 July 5,585 816, 040 444, 452 153 29, 006i 242 55,361! 5,989 1, 344,859 August.. 5,342 753,808! 385,591 145 29, 8111 255 40, 883 5, 750 1, 210,093 i September 5,603 859, 442 376,1901 142 30,788 268 »9,1471 6, 021 1,335,567 October. _ 5,754 877,812 419,464 153 31,282! 277 52, 8631 6,192 1, 381, 421 November 5,791 834, 526 363,100; 1481 29,910j 272 46, 799; 6, 219 1,274,335 December. 6,326 882, 7991 248,011| 188! 29,459; 259 58, 7121 6, 782 1, 218, 981 Total: 1926_.__ 67, 341 9,646,812 104 41,,773355,,8855991! 1,1,778855; 351,9041 2,920 558, 781 i 72,15015,i, 293, 356 ]925..__ 65, 71C 8, 974, 236 120 4I,, 794, 925 1, 937 490.493 70,458 14[,, 658, 513 1924.... 66, 844 8, 722, 7621 139 41,, 675, 949 2, 022382,832 2,814 521,795, 71, >303, 338 1923 2 57, 870^12,628,887] (3) 2,372 440, 538 j 2, 648 639,064; 62,89013,i, 708, 489 1 Exclusive of duplications on account of items handled by both the parent bank and one of its branches, or by two of its branches. 2 Includes items drawn on Federal reserve bank and its branches, separate figures not being available. 3 Included in preceding columns. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 12 SAN FRANCISCO 463 No. 8.—CLEARINGS AND TRANSFERS THROUGH THE GOLD SETTLEMENT FUND [In thousands of dollars] Federal Transfers for Total Total Transit clearing reserve note Government pay- receipts Wcok 1 e 9 n 2 d 6 ing— clearing account t F o m e d o e e t n h r ts a e l r F o e fr t d o h e m e r r al N lo e s t s g N a e in t Pay- Re- Pay- Re- Pay- Re- reserve reserve ments ceipts ments ceipts ments ceipts banks banks Jan. 6 (5 days) 64,202 60,429 413 21 500 64, 615 60, 950 3.665 13 84. 406 79,235 893 1.319 1,500 85, 299 82, 054 3,245 20 85, 393 75, 242 1,040 100 2,000 86, 433 77, 342 9,091 27 83, 330 72, 966 979 1,152 1,000 84. 309 75,. 118 9,191 Feb. 3 77, 333 77,434 693 539 78,026 77, 973 53 10 96. 292 105,064 633 613 2,000 96, 925 107, 677 10, 752 17 64, 613 68, 518 556 237 65,169 68, 755 3,586 24 82 623 68 564 397 366 83 020 68 93014 090 Mar 3 95, 828 73, 979 987 699 96,815 74, 678 22,137 10 84,905 74,730 521 837 85 426 75 567 9 859 17 84,767 122,038 706 288 33,000 118,473 122, 326 3, 853 24 80, 675 81,044 560 523 9,000 90, 235 81, 567~~8~668 31 94,993 107, 367 780 518 95, 773 107,885 12,112 Apr. 7 71,712 69, 316 692 813 72,404 70,129 2,275 14 72. 648 71, 230 418 273 73,066 71,503 1, 563 21 90, 449 76, 699 757 526 1,000 92, 206 77, 225 14, 981 28 70, 610 71,024 714 607 71, 324 71,631 307 May 5 73,322 72, 637 952 61 74, 274 72, 698 1,576 12 61,803 67, 933 479 751 62 282 68, 684 6,402 19 70 662 68 197 1 035 61 1 000 72 697 68 258 4 439 26 73, 535 70, 508 643 540 74,178 71, 048 3,130 June 2 66 096 73, 279 805 369 66 901 73, 648 6,747 9 64,863 66, 221 764 890 3,900 65, 627 71,011 5,384 16 83, 505 83,099 714 181 5,100 84,219 88, 380 4,161 23 83 888 77, 471 829 46 5,666 89 717 77, 517 12, 200 30 79, 279 94, 038 839 996 4,000 84,118 95,034 10, 916 July 7 80. 562 69, 518 595 141 2,000 81,157 71, 659 9,498 14 79, 466 69, 363 736 642 1,000 80, 202 71,005 9,197 21 77,715 74, 270 837 108 78 552 74, 378 4,174 28 101, 483 85,058 1,128 468 102, 611 85, 526 17,085 Aug. 4 . 75, 993 76,126 1,013 177 77,006 76, 303 703 11 70, 312 67, 788 744 783 1,000 71, 056 69, 571 1,485 18 69,028 68,975 585 679 1,666 70,613 69, 654 959 25 80, 355 77,179 685 449 2,000 83,040 77, 628 5,412 Sept. 1 69, 094 60, 469 1,185 162 70, 279 60, 631 9,648 8 77, 883 73, 815 459 131 11, 500 78, 342 85, 446 7,104 15 72 598 75 426 860 747 1,000 1,500 74 458 77, 673 3,215 22 83.208 76, 300 784 113 3,000 86, 992 76, 413 10, 579 29 85, 945 78, 143 1,374 2,007 1,000 87, 319 81,150 6,169 Oct. 6 82 739 78 838 795 242 3,000 83 534 82 080 1 454 13 69, 458 72,007 783 736 2,000 70,241 74, 743 4,502 20 90,037 91,063 814 232 500 90, 851 91, 795 944 27 95,169 87, 623 908 511 1,000 96, 077 89,134 6,943 Nov. 3 71,522 71, 435 742 72, 264 71, 435 829 io". 92, 736 84, 939 810 1,435 1,500 93, 546 87, 874 5,672 17 67, 390 73, 476 942 72 1,500 68, 332 75, 048 6,716 24 82, 582 83, 790 733 892 83. 315 84, 682 1, 367 Dec. 1 79, 965 74,943 685 707 1,000 80, 650 76, 650 4,000 8 78,022 77,189 755 119 78, 777 77. 308 1,469 15 79,196 84, 737 741 1,025 1,000 80 937 85 762 4,825 92 96, 403 78, 946 710 849 7,000 2,000 104,113 81, 795 22, 318 29 80,184 89, 867 530 568 2,000 80, 714 92,435 11.721 31 (2 days)" 42, 660 41, 106 141 1,000 42, 801 42,106 695 Total: 1926 4,173.. 4374,070, 651 39, 873 27,321 68,000 49, 500 4, 281, 3104,147,472133, 838 1925 58,000 42, 500 3, 986, 4803, 954, 578 31, 902 1924 47, 000 56,000 3, 708, 6473, 637,180 71, 467 1923 44,000107,500 3,418,1723,389;666 28, 506 Net gain in ownership of gold since establishment of fund in 1915, $58,853,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES [Amounts in thousands of dollars] SAN FRANCISCO DISTRICT Loans and investments Net Re- Investments demand serve Bills Num- Call aate Total a c L n o d o u a n d n t i s s s i - Total U S G e n ta r o i n t t v e e - - d s s O ec th u e ri r - b f D a ro n u m k e s p v u p r s a i n l o u n d d u f r d e i s i - , - d ts de T p o o t s a i l ts p m o D d s a e i e n - t - s d 2 de T p im os e its U S p n o t d a i e s t t i - e e ts d s b D a t n u o k e s d p e o N m d s e i e - a t t s n d 3 d G e m t o p a p i v m l n e o u e n d s e s r i t n ts - b s w F e e a r e r e i r n a t d v - h k l - e c r o p a a e u a b d n y n l i d e s t - - s b b p e i r a o n e r n r - g t k o - f s ment ties securities 1921 Dec. 31__ 1,952,455 1,455,415 497,040 233, 543 263,497 186,231 284,002 2,032,962 1, 019,838 15, 092 189, 6711,028,445 1,851,898 122, 678 90,525 837 1922 Mar. 10 1,943,944! 1,434, 737 509, 246, 773 262,434 195,201 287, 605 2,023, 093 821,610 19,481199,308 1,004,450 1,845, 541 118,353 77,724 835 June 30 2,001, 012 1,475, 704 525,308 258, 616 266, 692 191,464 285,168 2,122, 616 1, 036, 580875, 762 12, 924 197,35011, 057,875 1,946, 561 122, 723 64,170 842 Dec. 29 -. 2,132, 603 1, 555,290 577, " " 312,254 265,059 209, 604 301,238 2, 313,938 1,133, 718 930,404 25,426 224, 390 1,149, 713 2,105, 543 135, 731 48,223 820 1923 Apr. 3 --.. 2, 267, 071 1, 661,969 605,102 336,883 268,219 198, 523 298, 607 2,416,412 1,171, 754 .1,, 009, 96728, 214 206,477 1,181,035 2, 219,216 140,735 67,459 806 June 30 _ 2,335,944 1, 740,726 595,218 322,470 272, 748 186,813 299,104 2,466,8111,235,827 1., 007,86327,270 195,8511, 240,995 2, 276,128 145,844 83,926 803 Sept. 14 2,296, 780 1, 732,619 564,161 304,909J259,252 210,971 304,972 2,450, 792 1, 242, 693 980,426 13, 313 214, 360 1, 243,214 2,236,953 147,212 94, 588 804 Dec. 31 2,252, 354 1, 686"J 288 566,066 292,408J273, 658 206,645 292, 919 2,488,048 1,237, 087 ,1, 032,364 22, 007 196, 590 1,222, 741 2,277,112 .145, 714 47, 508 802 1924 | Mar. 31 2,321,937 1,740,2.84 58111,653 305,95i66 !227755,,6697 189,796 313,857 2,484,957 1,238,\, 342, 1 0,24,132 25,643 196,840 1,241,225 2,291,000 142,176 785 June 30 2,300,207,1,721, '844 5788i,363 301,5691276,794 213,363 312, 644 2,529,317 1208,,;227 i;, 093,320 12,243 215,527 1,216,590 2,322,153 145,385 33,534 776 Oct. 10 2, 360,252 1, 730,697 62!99,,55.5i 338,409 291,146 321,506 323,460 2, 709, 779 1265, ,3~6"9 1.,, 122,19729,017 293,196 1,293, 726 2,444,940 1§8,081 20,048 774 Dec. 31 2,448,947 1,769,451 679,496 363,112 316,384 274,380 318,247 2, 788,380 1,228888,, 605 1,202,911 18,441278,4231,308,4692,529,821164,529 21,291 766 1925 Apr. 6 . 2, 512, 770 1,818,368 694,402 373,857 320, 545 226, 571 320, 789 2, 759, 58,52 418,740 1,246,185 29, 749 234,911 1,,226666, ,351 2,, 542.,285 153,194 31,671 749 June 30.. 2, 548, 618 1, 849, 573 699,045 375,332323, 713223,855 321,81312, 803, 587 , 1267, 599 1,,286,613 12,225 237,1501. , 275, 547 2, 574,385 154, "5~21 41,144 751 Sept. 28 _.. 2, 612, 794 1,889, 624 723,170! 391,808 33331,362 240, 799,324,441J2,850, 689 ,1268, 520 I, 307,324 26,407 248,438 1.,298,014 2, ""• 61,215 749 Dec. 31—- 2, 676, 501 1,942, 500734 001 388,176345,825246,305319, 7923,005, 948 1, 366, 217 1., 342,86734,005 262,859 1i,364,503 2,741,375 168,461 32, 601 740 1926 Apr. 12— .._.. 2, 684,108 1,943, 585 740, 523 386, 509 354,014 226, 665 320,376J2,944,046 1, 299, 827 1,367, 987 34, 676 241, 556 1, 319, 539 2, 722,202 156,830 50,202 724 June 30.-.--. 2, 695,037 1,959,167 735,870 377,996 357,874 232, 588 324, 646|2, 976, 50411,301, 310 1, 392,225 20,908 262,061 1, 326,009 2,739,142 162, 902 45, 593 725 Dec. 31. 855,431 2,079,496 775, 935 367,400 408, 535 245,121 337,894 3,168, 950|l, 379, 216 1,482,196 20, 636 286, 902 1,391, 099 2,893, 931 167,180 54,906 721 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY [OFJ LOS ANGELES 1925 Dec. 31 618,516 484,643 133,873 72,105 61, 76848,180| 60,920 714,379 300, 247 347,843 7,328 58, 961 286,719 641,890 40,979 2,133 15 j 1926 Apr. 12___ 624,968 487,518137,450 69,047 68,403 56,81l! 63,592 721, 504 279,290 381,2 2,273| 58,701 268,328 651,841 38,787 2,627 15 June 30 628,227 494,317 133,910 67,006 66,904 59,710 63,312 725,2851 277, 918 383,1621 1,504 62,701 268,310 652,! 38, 613 514 15 Dec. 31 725,844 574,984150,860 72,846 78,014 54,200 72,427 827,3 307,820 451,786 2,706 65,022 292,992 747,[-484 43, 526 6,850 14 CITY OF OAKLAND 1925 Dec. 31 25,778 18,680 7,098 5,016 2,082 3,170 3,158 27, 924 20, 092 3,780 4,052 20,268 24,048 2,130 815 1926 O Apr. 12 26,447 19,487 6,960 5,040 1,920 1,992 3,194 25, 224 18, 646 4,248 2,330 20,143 24,391 2,005 2,387 June 30 26,539 19,755 6,784 4,814 1,970 1,645 3,815 25, 752 17,894 4,265 3,593 19,218 23,483 2,045 1,339 Dec. 31 29,146 19,487 9,659 5,302 4,357 3,685 5,221 30,920 21, 717 4,615 20 4,568 21,877 26, 512 2,457 r CITY OF OGDEN 1925 Dec. 31_ 7,305 5,745 1,560 943 617 955 936 8,087 5,034 1,187 5,725 6,912 646 1926 Apr. 12 6,122 4,562 1,560 944 616 1,024 3,882 1,437 1,370 4,160 5,597 465 June 30 6,045 4,530 1,515 943 572 905 961 6,523 3,517 1,523 3,868 5,391 483 Dec. 31— 7,118 5,542 1,576 917 659 1,643 4,957 1,643 2,'066 5,249 6,892 597 3 o CITY OF PORTLAND M GO O O 1925 Dec. 31. 110,629 66,772 43,857 24,733 19,124 12, 683 12, 771 132, 243 59, 708 56, 729 182 15, 624 58,446 115,357 7,570 762 1926 Apr. 12_ 113,781 70,844 42,937 21,801 21,136 12,827 12, 728 134, 597 61,654 57,369 128 15,446 60, 524 118,021 6,678 621 June 30 113, 650 69,370 44,280 22,033 22,247 12,497 12,847 134,526 60, 392 57, 795 164 16,175 60, 558 118, 517 8,762 1,376 Dec. 31 114,011 66,113 47,898 22,601 25, 297 12,416 13,019 134,358 60,186 59,058 175 14,939 60, 558 119, 791 7,796 1,933 * Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 9.—ALL MEMBER BANKS: PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES—Continued [Amounts in thousands of dollars] SALT LAKE CITY Loans and investments Net Re- Investments tal, demand serve Bills Num- Call date Total a c L n o d o u a n d n t i s s s - i Total U S G e n t r a o i n t t v e e - - d s s O ec th u e ri r - b f D a ro n u m k e s p u v p r s a i n l o u d n u d f r e d s i - i d t , - s de T p o o t s a i l ts p m o D d s a e e i n - - ts d 2 de T p i o m s e its U p S n o t d a s i e t t i - e e ts d s b D a t n u o k e s d p e o N m d s e e i a - t t s n d 3 G de m o t p a p i v l e n m o u e d n s s e r t i n ts - b s w F e e r a e r e i r n a - t d v h k l - e c r o p a e a u a b d n y n l i d e s - t - s b b p a e i r o n r n e r g - o k t- f s ment ties securities 1925 Dec 31 53,860 38,641 15, 219 5,456 9,763 7,280 6,775 66,624 32, 276 20, 737 42 13, 569 34, 924 55, 703 4,466 520 9 1926 Apr. 12 . .. 53, 211 37,946 15, 265 5, 295 9,970 6,715 7,217 62, 960 28,474 22, 992 30 11,464 31,499 54, 521 3,922 9 June 30_ 52, 303 36,811 15.492 4,967 10, 525 8,284 7,267 63,532 29, 307 23, 032 24 11,169 31, 277 54,333 3,885 24 9 Dec. 31 50, 531 37,851! 1Z680 3,961 8,719 6,816 6, 361 62, 257 33, 069 16, 966 16 12, 206 34,845 51,827 4,035 405 8 CITY OF SAN FRANCISCO 1925 Dec. 31. 1,056,343 776,426 279,917 170,486 109,431 74, 604 121, 662 1,159, 960441, 717 581,308 20, 326 116, 609 458,052 1, 059, 68662,700 16 1926 Apr. 12_. 1,059,858 779,178 280, 680172,937 107, 74352,974 119,072 1,115,918 414, 271 578,121 21, 934101, 592 446, 507 1,046, 56255, 929 15 June 30. 1, 071,878 788, 754 283,124171,989 111,135 59, 523 122,963 1,153, 385427,604 595, 819 12,372 117,590 459, 612 1,067, 80360,782' 15 Dec. 31- 1,119,710 833,481 286, 229159,301126, 92870, 766 124,888 1, 209, 522453,427 608,48: 13,101134, 507 482, 362 1,103,95058,925 16 CITY OF SEATTLE 1925 Dec 31 100,341 62, 382 37,959 23, 222 14, 737 15, 556 11,208 123, 305 65, 248 35, 326 4,307 18,424 64, 763 104, 396 7,697 8 1926 Apr 12 106, 288 64,574 41,714 27, 553 14,161 16, 997 11,474 132,009 69, 240 34,007 8,673 20, 089 67,873 110,553 8,738 79 s June 30 100,138 62,83 37, 307 22, 903 14,407 15,969 11,495 122, 741 64, 288 34, 629 5,308 18, 516 64,111 104,048 7,870 575 8 Dec. 31 98, 766 62,018 36, 748 20,772 15,976 15,616 11,777 122,130 65, 760 34,846 2,637 18,887 65,008 102,491 8,160 188 8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CITY OF SPOKANE 1925 Dec. 31 44, 937 37,325 7,612 4,169 3,443 4,853 5,433 50,420 19, 939 21,086 28 9,367 21,458 42,572 2,871 416 1926 Apr, 12 44,650 36,161 8,489 4,089 4,400 4,692 6,054 50,104 21,186 , 20,551 48 8,319 22, 212 42, 811 3,175 187 June 30 45,268 36,878 8,390 3,999 4,391 4,316 6,050 49, 550 20, 383 20, 569 17 8,581 21, 974 42, 560 2,895 730 Dec. 31 43,637 34,965 8,672 3,779 4,893 4,516 6,042 48,993 18,578 21, 267 36 9,112 20, 502 41,805 2,974 181 1 Including rediscounts and overdrafts. 2 Including certified and cashiers' or treasurers' checks outstanding. 3 Demand deposits on which reserves are computed. I—I 10 a M a o Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

468 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 10,—ALL MEMBER BANKS—CONDITION ON CALL DATES SINCE DECEMBER 31, 1925 [In thousands of dollars] December April 12, June 30, December 31, 1925 (740 1926 (724 1926 (725 31, 1926 (721 banks) j banks) banks) banks) RESOURCES Loans and discounts 1,940,282 1,940, 770 1,956,858 2,077,090 Overdrafts 2,218 2,815 2,309 2,406 United States Government securities 388,176 386, 509 377,996 367,400 Other bonds, stocks, and securities 345,825 354,014 357,874 408, 535 Total loans and investments 2, 676, 501 2, 684,108 2,695,037 2,855,431 Customers' liability on account of acceptances 22,409 19, 608 21, 937 32,428 Banking house, furniture, and fixtures 94, 724 97, 261 97,978 101, 828 Other real estate owned 18,423 20,942 19,692 20,453 Cash in vault 47,394 43, 202 42, 956 44,444 Reserve with Federal reserve b^ak 168,461 156,830 162,902 167,180 Items with Federal reserve bamrs in process of collection 40,111 38,413 38, 262 42, 725 Due from banks, bankers, and trust companies 246,305 | 226,655 232, 588 245,121 Exchanges for clearing house, and checks on other banks in same place.. _ _ 71,761 ! 61, 503 55,822 76, 675 Oufeide checks and other cash items 34,612 32, 349 35,487 39,906 Redemption fund and due from United States Treasurer. 2,482 2,439 2,451 2,501 United States securities borrowed *_ 25 22 5,358 2,601 Other securities borrowed 1 18 18 433 439 Other assets _ 25, 307 24, 341 31,825 32,607 Total 3,448, 533 3,407,691 3,442, 728 3, 664, 339 LIABILITIES Capital stock paid in 187,273 190,161 190, 775 198,084 Surplus fund. _ _ 89,917 86,897 88,178 91,895 Undivided profits, less expenses and taxes paid 42,602 43, 318 45, 693 47,915 Reserved for taxes, interest, etc., accrued 4,617 10, 265 5,869 6,115 Due to Federal reserve banks... 782 893 472 783 Due to banks, bankers, and trust companies 262,077 240,663 261, 589 286,119 Certified and cashiers' or treasurers' checks outstanding. 59, 749 44,727 58,080 66, 743 Demand deposits _ _. 1,306,468 1, 255,100 1, 243, 230 1,312,473 Time deposits _ _ 1, 342,867 1, 367,987 1, 392, 225 1,482,196 United States deposits _ 34,005 34,676 20,908 20, 636 Total deposits _ 2,944,046 2,976,504 Agreements to repurchase United States Government 3,005,948 3,168,950 or other securities sold 10 Bills payable (including all obligations representing 57 75 money borrowed, other than rediscounts) _ 33,024 21, 231 Notes and bills rediscounted (including acceptances of 18, 720 37, 599 other banks and foreign bills of exchange or drafts sold with indorsement) _ 13,881 I 17,178 24,362 17,307 Letters of credit and travelers' checks sold for cash and outstanding _ 659 928 1,257 465 Acceptances executed for customers 23,260 20,500 22,089 34, 765 Acceptances executed by other banks for account of reporting banks _ 310 487 1,198 258 National-bank notes outstanding 48,646 48,028 47,985 49,142 United States securities borrowed _ 1,806 2,747 5,358 2,601 Other securities borrowed 524 434 433 439 Other liabilities 10,313 11,796 8,729 Total. 3,448, 533 3,407,691 3,442,728 3,664,339 i Exclusive of securities borrowed by national banks, prior to June 30,1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTKICT NO. 12 SAN FEANGISCO 469 No. 11.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY [In thousands of dollars] Net demand deposits Time deposits Banks in cities and towns hav- Banks in cities and towns having ing a population of— a population of— Date Total Total t 5 L h ,0 e a 0 s n s 0 1 5 4 , t 0 , o 9 0 9 0 9 15 t , o 000 10 o a 0 v n , e 0 d r 00 t 5 L h , e 0 a s 0 n s 0 | 1 5 4 , t 0 , o 9 0 9 0 9 9 1 9 5 t , , o 9 0 9 0 9 0 a 1 n 0 d 0 , o 0 v 0 e 0 r 1923 Apr. 25... 183,194 163, 444 84, 868 48,310 786, 5721,040, 221| 92,876 47,938 98,143 801, 264 May 23... , 228,374167,181 83,414 .41,145 836, 6341,009,733| 94,829 42, 298 90,884 781, 722 June 27._. 219,447 167, 757 83,605 .38,932 829,153 1,011,389j 96,278 42,487 91,937 780, 687 July 25... , 218,950165, 573 82,823 .38,868 831, 686 942,837 94,942 43,829 92, 585 711,481 Aug. 29... , 235,892170,227 82, 336 .39,069 |844,260 942,028 I 98,714 44,150 93, 211 705, 953 Sept. 26... ,251,460 178,683 84,425 44,620 843, 732 960, 5031101, 975 45, 299 94, 332 718,897 Oct. 24... , 279,151182,826 87,736 .46,318 862,271 952, 894I 98,678 45, 664 91, 576 716, 976 Nov. 28... , 290,8261185, 063 88,121 48, 860 868, 782 970,367 1100,710 46,069 92,653 730,935 Dec. 26._. , 266,437179,698 85,101 51, 899 849, 739 991,123 101, 552 44,915 94, 307 750,349 1924 Jan. 23... , 253, 902167, 304 81,941 149,125 855,532 1,000,648 101,481 45, 750 95, 516 757, 901 Feb. 27... , 241, 758161, 222 81,015 145, 829853,692 1,019, 927101,588 46,818 95,635 775, 886 Mar. 26... ., 216,923159, 954 81, 689 138, 618 1, 025, 747100,097 47,078 92, 316 786, 256 Apr. 23... .,222,969 159,773 81,377 135,651 846,168 1, 038, 658 99,112 47, 244 93, 570 798, 732 May 28._. 1, 211, 533155,713 79,366 133,466 842,988 1,039,450 99,485 47, 585 92,197 June 25... 1, 206, 298155,325 77,157 128, 536845, 2801,051,859 99,617 46,962 91,077 814,203 July 23... 1,218,310 153,088 76, 265128,429 I860, 5281, 062, 01999,241 47,418 91, 557 823,803 Aug. 27... 1,248,483 157,251 77,498 130, 010883, 7241,048, 245100,084 46,959 93,444 807, 758 Sept. 24._. 1,278,287 164,141 80,009 130, 0811904,056 1, 075,075100,308 47, 746 94, 965 832, 056 Oct. 29... 1,320,788 170, 567 81, 647 134,216 934,358 1,106,225 101,130 48,169 95, 530 861,396 Nov. 26... 1,322,964 173, 049 82, 381 136, 990930, 5441,128, 308101, 807 48,411 96,498 881, 592 Dec. 24-_. 1,310, 823167,955 81, 045 138, 275923, 5481,150, 727103,114 48, 950 98,162 900, 501 1925 Jan. 28._. 1, 291, 093156, 403 76,435 135, 592922, 663 1,171,200 104, 521 49,506 102,756 914, 417 Feb. 25... 1, 289, 740153, 952 75, 754136, 604923,430 1,184,202 104, 865 50,012 101, 587 927, 738 Mar. 25... 1,235,913 152, 081 74,817 136, 701872, 3141, 240, 735103,901 49,486 101, 714 985, 634 Apr. 22... 1,251,037 155,216 76,801 135, 577883,443 1,242,963 103,292 49,107 100, 692 989, 872 May 27... 1,230,203 151,824 75,611 133,192 869,576 1,251,953 103,865 48,277 101,027 998,784 June 24... 1,240,484 155,373 76, 841135, 780872.490 1,267, 614103> 479 48,413 102,933 1,012,789 July 29... 1,250,178 154,536 77,007 135,144 883.491 1,278,465 104,252 48,983 103,463 1,021, 767 Aug. 26._. 1,271,397 158,794 78,351 138,959 895, 2931,278,928 105,470 48,192 i103,399 1,021,867 Sept. 23._. 1, 282, 628166, 616 82,714 139,870 893,428 1, 282,689104,223 49,554 [103,378 1,025, 534 Oct. 28... 1,315,098 176,322 86,454 142,385 909,937 1,310,189 104,925 50,639 1102,669 1,051,956 Nov. 25._. 1,339,345 175, 221 86,130 149,074 928,920 1,328,098 105,043 51,019 103,829 1,068,207 Dec. 23... 1,335,362 170,847 85,038 146, 963932, 5141,301,722 106,328 51,364 105,472 1,038, 558 1926 Jan. 27... 1,311,604 161,491 80, 008 146,953 923,152 1,322, 578108, 909 53,030 105,508 1,055,131 Feb. 24... 1,294,977Il58,331 78,140 144,478 914,028 1,340,365 111,087 53, 7081100,937 1,074, 633 Mar. 24... 1,259,4061155,423 79,749 143,114 881,120 1,357,039 108,010 54,618 100,936 1,093,475 Apr. 28... 1,250,410 156,443 79,568 144,374 870,025 1,359,637 106,638 54,127 100,323 1, 098, 549 May 26... 1, 264,3881154,891 80, 873 141, 996886, 6281,376,204 106,089 54,112 100,009 1,115,994 June 23-_. 1,266,447 154, 594 79, 811 142,704 889,338 1,378,973 106,362 54, 611 100,264 1.117, 736 July 28... 1,259,268 154,282 79,992 142,013 1,383, 236108,447 55, 573100, 568 1.118, 648 Aug. 25... 1, 296,808159, 566 81,198 142,701 913,343 1,376,318 108,622 54,880 100,907 1,111,909 Sept. 22... 1,314,693 167,133 84, 073 146,186 917, 301 1,429,159 108,344 55,939 1101,016 1,163,860 Oct. 27... 1,321, 707170, 601 84,320 148,182 918,604 1,427, 516111,177 56,401 il01,411 1,158, 527 Nov. 24._. 1,343, 213170,395 85,242 149,093 938,483 1,426,094 111,798 56, 688101,166 1,156,442 Dec. 29... 1,335,638 164,192 81, 759 150,384 939,303 1,455, 551112,764 57, 010103, 588 1,182,189 38494—27- -31 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

470 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD No. 12.—REPORTING MEMBER BANKS IN LEADING CITIES—PRINCIPAL RE- SOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and (Wed D n ay esday) Total Lo T a o n t s a l and L O o i c n n a u r v n s i s e e - - stme A n ll ts I m n e v n es t t s - Tot G al over m n N d m a e e n - t e d nt d T e im po e sit m s G er o e n v n - - t r s e b w F e s e R a e e r r e i d v r n a t - v - h e k l e s re b f F r B i e s o r a n e e o o r w d n g r r a m - - - v k l s e ties other Weekly averages: 1922. 1,197,486 871,761 162,336 709,425 325, 725 1,178,406618,325 547,381 12,700 83,617 17,305 1923 1,334,356 978,199 188,610 789,589 356,157 1,297,668714,249|569,236 14,183 96, 93540, 483 1924 1,391,951 1,020,693 207,046 813,647 371,258 1,390, 780757,324 618,108 15,348 101,965 15,244 1925 1,573,074 1,120,612 248,558 872,054 452,462 1,557,135778,565 765,614 12,956 107,226 28,985 1926 1,686,983 1,218, 924 297,025 921,899 468,059 1, 637,406774,354 842,946 20,106 109,777 37,025 1926 Jan. 6 1, 643,651 1,186,206 270,853 915,353 457,445 1,633,464806,950 800,249 26,265 114,951 23,891 13 1,644,219 1,180,733 266,570 914,163 463,486 1,639,094810, 246 802, 583 26,265 114,40917,869 20 1,651,315 1,185,408 267,160 918, 248 465, 907 1, 632, 758304,870 801, 618 26,265 114,26324, 878 27 1,641,461 1,177, 551i265,070 912,481 463,910 1,613,049789, 243 797, 541 26,2651111, 67426, 992 Feb. 1, 646,379 1,179,247 269,785 909,462 467,132 1,619,090789,343 803,482 26,265 110,776 24,136 1,647,653 1,180,645 271,960 908,685 467,008 1,634,715803,549 804,901 26,265 114,312 13,952 1,648,151 1,179,062 271,432 907,630 469,089 1,638,095804,444 807,386;26,265 118,988 15, 722 1,636,013 1,184,690 277,085 907, 605 451,323 1, 614, 627576,102 812,25826,265 111, 11018,163 Mar. 3.. 1, 641,310 1,198, 778 286, 008 912,770 442,532 1 740,491 830,142!26,265 107,124 34,293 10.. 1, 650,123 1,188,573 283, 510 905,063 461,550 1,, 604,612752,142 826,205'26, 265 106,17330,180 17.. 1,683, 288 1,195,836 285,358 910,478 487,452 1, 632, 821"72, 747 820,169:39, 905 106, 33242,260 24.. 1,666,843 1,187,287 285,859 901,428 479,556 1, 602,386751,306 820, 206!30, 874 109,11953,040 31.. 1,672,694 1,200,088 292,043 908,045 472,606 1, 630, 319"60,932 838,513 30,874 111 ' 39, 265 Apr. 7_. 1,662,1751,194,461 291,367 903,094 467, 714 1, 612, 063749,7772 831,417,30,8' 1,016 35, 779 14.. 1, 665,6661,197,701 289,206 908,4951467,965 1, 634, 648773, 7777i0 830,004!30, 874 11\3 ,365 36, 312 21.. 1,663,4391,194,050 294, 945 899,105 469,38911, 602, 919751,241 826', 284!25, 391109Ji,793 41,672 28.. 1, 662,0381,191,160 290, 640 900, 520 470, 878, 1 600, 599743,448 83I1, "7~5'7 25, 3941~0~8,869 35,298 I May 5_. 1,671,4831,200,845 294,847 905.,, 998 470,638, 1600, 344745, 459 830, 507 24, 378 109,60744,875 12.. 1,680,1121, 203,697 297,828 90i5,, 869 476,415 ,1623,178 762, 900 837,120 23,158 114, 94035,234 19.. 1,677,2321, 202,524 300,949 901, 575 474, 708 ,1 618, 579763,325 834,990 20, 264 10'7,,907 33,439 1, 680, 5471,203,566 299,175 904:, 391 476,98,1 '620, 751757,526 843,771119, 454 10>9,,659 33,452 June 2_. 1,197,563 294,152 903,411 478,029 1, 628,108757,995 850,659 19, 454 107,31329,167 9_. , 199,493 292,599 906,894 474,296 1, 626, 407358,433 848,516 19, 454 105,29321,390 16.. 1,204,791 290,970 913,821 470,387 1, 629,45976i; 195 848,810 19, 454 108, 34319,717 23_. 1,198,494 288,939 909, 555 474,637 1,623, 302756,320 847', , 528 19", 454 1»0,"57!3~8 27,132 30.. 1,192, 249 287, 626 904, 623 472, 296 1,629, 747763,587849,140 17, 020 1081^,271 22,328 July 2 14 1 7 . . . . .. 1 1 1 1 , , , , 6 6 6 6 5 5 5 5 2 6 3 7 , , , , 3 0 5 9 9 2 2 3 4 8 2 4 | 1 l 1 l , , , 1 1 1 1 8 8 9 9 6 , 8 2 2 , , , , 0 2 6 4 4 2 0 5 5 4 4 5 2 2 2 8 8 2 8 5 8 8 7 , 8 6 , 2 4 2 , 2 5 0 4 6 6 0 2 4 2 8 8 4 5 | 9 8 9 8 9 90 9 0 9 0 0 3 9 2 3 6 2 , , , , , 5 33 7 77 7 59 9 4 8 3 6 2 1 4 4 4 4 6 6 6 6 4 7 6 4 , , , , 1 0 4 4 4 9 9 7 8 4 7 0 1 1 X 1 , , , 6 6 6 6 2 0 1 3 0 7 0 1 , , , , 0 1 3 3 5 7 8 5 1 2 4 37 7 7 74 5 6 4 6 6 8 8 , , , , 4 0 6 9 5 0 2 6 1 0 8 7 8 8 8 8 4 4 4 4 7 8 7 5 , , , , 0 1 7 3 0 5 6 2 9 9 4 9 1 1 1 4 4 1 6 , , 4 , 8 , 8 1 8 7 7 6 7 6 6 9 6 1 1 1 0 1 0 0 9 0 4 9 , 3 , , , 3 1 4 8 7 4 8 8 9 3 7 9 3 3 3 3 1 3 3 4 , , , , 3 8 5 5 7 2 7 6 7 5 2 8 1,190,190 293, Aug. 4.. 656,415 II, 190, 882 291,882^99,000 465,533 1,613, 292756,233 842,183 14, 876 104b,, 152 33,869 11.. 665,491 II, 200,933 297,880J903,053 464,558'l, 631,209773, 997 844,196 13,016 107',,685 32,343 18.. 671, 968 jl, 208,630 298, 887J909, 743 463,3381,633, 287379,289 842,28011,7141091;,059 28,612 25.. 677, 065 |l, 214,893 296,887|918, 006.462,172 1,616,057371, 725 835,422 8, 906 1019,1,05 39,059 Sept. 1.. , 677,194'1,212,411 296,344J916,067 464, 783 1, 621,652777, 509 835, 237 8, 906 109, 64453,654 8.. , 673,827 1,210, 816 292,082*918,7341463,011'l, 611,258i769,099 833,253 8, 906 108, 22750,984 15.. , 691,440!1, 218,658 295,0381923, 6201472, 782'1, 654, 922793,426 835, 841 25,655 110,46741, 845 22.. 1, 688, 9371, 220, 556!300,8341919, 722|468,38l'l, 627, 875766, 741 834,970 26,164 105, 81852,447 29 jl, 684,116 1,216, 625 301,119:915, 506J467,491 1, 612, 952J752,923 833, 865 26,164 106,61360,405 Oct. 6 1,687, 660j! 1,221,683 301,350!920,333465, 977 1,619,164759,438 833;,, 562 26,164 107, 696 55,429 13 il, 753,401 j 1,278,923 335,684943,239474,4781,718,551 808,543 886.,,516 23,492112,602 57, 299 20 il,750,326|!l,281,690 325,639 956,051)468,6361,681, 704784, 951 881,21915,534 1100,, ~ 0-4~950,656 27 11, 749,106| 11,282, 235 321,204!961, 0311466,871:1,666,734774, 494 879i^, 036 13, 204 11099,, 58157,140 | j i Nov. 3 !l,754,294ijl,285,993 320,957 965,0361468,3011,689,310789,255 886,851113,204 107',927 57, 814 10 11,755,630 jl, 288,008 320,271967,737|467,622 1,685,621 789, 268J885,13l!ll, 222 109i,,257 50, 780 17 11, 761,865:11,295,015 321,004 974,011466,8501,684, 618792, 238:884,522: 858 111, 36046,120 24. .. ! 1, 757, 0771 1,291, 949 326,604965,345;465,1281,673,960|791,319 875571 7^0701122, 21540, 780 Dec. 1 !l, 755, 345;il, 292,173 326,512965,66l|463,172 1,683, 809!795, 1191881,6201 7',, 070 113, 764 41, 592 8 |1, 762,184 |l, 297, 716 324,566 973,1501464,4681,687," 4371881,294i 7',,070111,956 36,329 15 1,774,181; 1,298,726 326,729 971,9971475,4551,712,483 818, 186:877,75816,539114; 33,142 22 1,777,014 1,305,603 331,296 974,3071471,411 1,694,445!796, 0821881,824116,539111,465! 48,442 29 1,781,262! 1,308,144 332,005 976,139:473,1181,713, 324! 727897,058!16,539115, ~~~ 42, 775 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Net demand, time, and Government Loans and investments deposits Reserves B or row- Month with ings from Loans Federal Federal Total On se- All I m nv e e n st t - s de N m e a t nd Time Go m v e e n r t n- re b s a e n r k ve re b s a e n r k ve curities other 1922 January 1,208, 663 894,110 163, 615 730,495 !314, 553 1,178, 626 606,152 562, 700 9,774 81, 303 26,841 February 1,141, 928 834, 714 159,312 675,402 !307, 214 1,118, 077 575, 339 521, 314 21, 424 77,805 22,188 March 1,162,898 852, 579 159, 513 693,066 ! 310, 319 1, 133, 332 580, 851 538, 882 13, 599 78,467 25, 356 April 1,169,163 857, 250 157, 793 699, 457 311,913 1,140, 881 591, 612 536,108 13,161 80,889 17, 542 May 1,176, 278 860, 387 161,105 699, 282 315, 891 1,148, 468 599, 908 536, 763 11,797 79,854 13, 936 June 1,183, 986 857, 644 161, 278 696, 366 326, 342 1,170, 730 610, 540 543, 245 16, 945 80, 298 10, 834 July 1,187, 404 862,124 165, 425 325, 280 1,177, 781 620,441 548, 525 8,815 84,088 12, 302 August 1, 201, 695 867, 839 162, 563 705, 276 333, 856 1,186, 330 627, 450 543, 881 14, 999 85, 994 10, 257 September 1, 211, 296 877, 324 160, 949 716, 375 333, 972 1, 202, 352 639, 238 551,125 11, 989 85, 826 11,288 October 1, 224,846 887, 675 164, 446 723, 229 337,171 1, 219, 940 654, 092 556, 598 9,250 88, 789 10, 516 D N e o c v e e m m b b e e r r 1 1 , , 2 2 6 4 0 2 , , 5 7 6 0 8 1 8 9 9 1 8 3 , , 4 05 7 3 9 1 16 6 8 3 , , 6 9 1 6 2 9 7 74 3 4 4 , , 8 0 6 8 7 4 3 3 4 4 4 7 , , 0 6 8 4 9 8 1 1 , , 2 2 3 3 1 6 , , 0 8 8 8 70 6 65 6 1 3 , , 4 2 4 3 9 8 5 5 6 7 1 0 , , 4 09 6 3 8 15 6 , ,1 5 7 3 1 9 8 9 9 0 , , 3 6 7 0 7 1 2 21 4 , , 4 6 7 3 7 7 1923 J anuary 1, 263, 016 907, 224 174, 529 732, 695 355, 792 1, 266, 554 666, 346 586, 806 13, 402 92,107 19, 049 February 1, 288, 683 928,439 176,435 752, 004 360, 244 1, 279,160 676, 834 595, 519 6,807 94,604 24, 738 March 1, 310, 372 947, 963 174, 681 773, 282 362, 409 1, 295, 440 677,141 601, 038 17, 261 94, 660 30,831 April 1, 342, 027 972,184 181, 416 790, 768 369, 843 1, 322, 694 688, 252 612, 077 22,365 91,382 39,669 May 1, 363, 908 993, 523 183,330 810,193 370, 385 1, 319, 488 711, 368 588, 989 19,131 97,033 41, 970 June 1, 371, 962 1, 006, 079 185, 840 820, 239 365, 883 1, 321, 961 722, 502 584, 427 15,032 99, 566 41, 269 July 1,343, 805 987, 900 193, 735 794,165 355, 905 1, 291, 016 730, 720 544, 830 15, 466 101,198 53, 773 August 1, 340, 765 993, 018 200,169 792, 849 347, 747 1, 279, 313 731,170 534, 983 13,160 97, 893 49, 284 September 1, 351, 792 1, 002, 601 803, 133 349,191 1, 294, 378 733, 958 543, 826 16, 594 103, 224 58, 378 October _ 1,345,086 997, 912 196, 306 801, 606 347,174 1, 299,864 741, 631 544, 092 14,141 99, 301 50, 692 N D o ec v e e m m b b e e r r .._ _, 1 1 , , 3 35 4 5 1 , ,4 5 3 8 4 2 999,880 1 1 9 9 8 8 , , 8 6 0 2 4 7 8 8 0 0 8 1 , , 0 3 7 1 6 2 3 3 4 4 8 1 , , 6 5 4 5 3 4 1 1 , , 3 2 0 9 8 9 , , 9 5 6 4 0 4 7 74 4 4 8 , , 2 3 9 9 1 8 5 55 4 4 5 , , 2 5 5 0 6 3 1 5 0 , ,4 6 1 4 3 3 9 9 5 6 , , 8 7 2 7 6 5 3 3 7 8 , , 5 8 4 2 8 7 1924 January _.___ ______ 1,350, 253 1,004, 605 195, 743 345,648 1,336,142 746, 633 574, 644 14,865 98,160 32,861 February ____ 1, 362,057 1,017,141 201,488 815, 653 344, 916 1,342,254 747, 582 581, 565 13,107 98, 617 27, 393 March 1, 366, 528 1,017, 388 203, 358 814, 030 349,140 1, 332, 945 722, 794 592,062 18,089 98,453 31,066 1378555 1,021,87$ 2Q6235 815, 643 356, 677 1,342,376 725, 213 595, 504 21,659 97,129 27,789 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 13.—REPORTING MEMBER BANKS IN LEADING CITIES: PRINCIPAL RESOURCES AND LIABILITIES, BY MONTHS—Continued [In thousands of dollars] MONTHLY AVERAGES OF WEEKLY FIGURES Net demand, time, and Government Loans and investments deposits Reserves Borrowwith ings from Month Loans Federal Federal Total I m n e v n es t t s - Total de N m e a t nd Time G m ov e e n rn t - re b s a e n r k ve re b s a e n r k ve Total securities 1924 May 381,153 1,026,105 205,130 820, 975 355, 048 1, 345,133 727, 136 603,867 14,130 98,120 20, 461 June _ 366,104 1,013, 622 206, 226 807, 396 352,482 1, 345, 597 726,300 610, 534 8,763 98, 780 15, 685 July. __ 363, 351 1,004, 660 208, 223 796, 437 358,691 1, 369, 752 740,045 622,145 7, 562 99,574 7,643 August 368, 904 1,004, 551 207.164 797, 387 364, 353 1,387,310 758, 345 622, 652 6,313 102, 618 2,147 September _ 388,954 1.011,618 205, 000 377, 336 1, 423, 321 775, 516 631, 857 15, 948 107,112 2,791 October 437, 236 1, 035,199 209, 088 826, 111 402, 037 1,474, 004 798, 669 649, 260 26, 075 107, 688 4,406 N De o c v e e m m b b e e r r . . . 4 4 7 5 3 6 , , 4 1 0 5 9 0 1 1, , 0 0 4 4 7 1 , , 1 8 5 9 8 5 2 2 1 1 8 8 , , 2 0 8 3 3 1 8 8 2 23 8 , , 8 8 7 6 5 4 4 4 2 1 6 4 , , 2 2 5 5 1 5 1 1 , , 4 4 8 9 2 4 , , 7 9 6 8 7 0 8 7 1 9 3 9 , , 9 7 6 7 4 0 6 6 6 6 8 0 , ,0 2 9 9 4 2 2 1 0 4 , , 9 7 2 0 2 5 1 10 0 8 8 , , 2 8 4 5 0 4 4 5, , 8 2 3 7 5 7 1925 January 476, 516 1,047, 392 222,820 824, 572 429,124 1,485, 013 792, 743 681,169 11,101 109, 528 5,433 February.. 510, 570 1,073,844 226,014 847, 830 436, 726 1, 512, 626 800, 870 703, 609 8,147 107,956 10, 248 March 529,233 1,096,079 229,953 866,126 433,154 1, 535, 224 788, 845 729, 592 16, 787 106,867 15, 262 April 554, 035 1, 104, 342 238,804 865, 538 449, 693 1, 546, 426 767, 007 758, 264 21,155 105, 961 22, 539 J A N S D M J O u u e u c o e n a l p t c g y v y o e t e u e e b m s m m e t r b b b e e e r r r . . . . 6 5 5 5 6 6 5 5 7 9 4 6 6 1 5 6 9 3 4 4 5 9 2 1 , , , , , , , , 6 0 7 2 7 6 5 9 0 9 1 6 3 6 9 4 8 3 1 3 5 9 1 7 1 1 1 1 1 1 1 1 , , , , , , , , 1 1 1 1 1 1 3 2 8 0 0 1 5 1 5 9 1 0 2 9 5 2 3 , 6 , , , , , , , 1 8 4 6 6 7 0 9 1 2 1 6 7 0 7 5 9 5 1 1 8 8 4 9 2 2 2 2 2 2 2 2 8 7 3 6 5 4 5 5 6 7 3 0 3 1 2 3 , , , , , , . , 2 9 1 1 0 0 3 6 1 9 6 7 3 3 1 4 4 9 5 5 1 6 3 2 9 8 8 8 8 8 9 8 8 5 2 1 5 5 5 9 3 3 9 9 9 1 9 2 , , , , , , , , 8 9 4 2 6 7 2 7 6 8 4 2 0 7 1 4 0 6 6 8 9 7 2 2 4 4 4 4 4 4 4 4 7 7 4 6 5 4 5 5 6 5 7 4 8 8 0 1 , , , , , , , , 4 5 6 8 7 7 5 5 8 5 6 0 8 6 5 8 5 0 1 4 3 9 0 0 1 1 1 1 1 1 1 1 , , , , , , , , 6 5 5 6 5 5 5 5 3 9 6 1 4 3 3 6 0 0 7 8 6 7 6 0 , , , , , , , , 4 4 1 1 7 2 3 7 7 1 2 4 9 4 0 5 3 8 9 4 5 2 8 0 8 7 7 7 7 7 7 0 8 7 7 5 7 5 4 7 6 1 6 8 1 , , , , , , , 9 5 4 3 5 3 7 8 8 3 9 3 9 5 3 6 8 8 3 7 9 8 8 7 7 7 7 7 7 0 9 8 6 7 8 6 2 4 7 0 9 8 2 3 1 , , , , , , , ,9 6 2 9 5 6 6 2 0 6 8 3 5 3 4 1 1 4 7 0 2 5 7 1 2 1 1 1 1 0 5 3 4 7 1 6 6 , , , , , , , , 1 9 3 6 1 0 0 9 4 7 8 0 1 4 7 0 8 0 6 5 0 5 9 2 1 1 1 1 1 1 1 1 1 0 1 0 0 0 0 0 2 4 1 6 4 5 7 4 , , , , , , , , 3 0 9 5 6 5 0 5 8 6 4 3 8 4 6 1 4 4 9 7 7 4 4 3 4 4 4 2 5 2 2 2 8 7 3 9 2 3 0 4 , , , , , , , , 1 3 0 2 3 5 7 6 0 7 1 9 5 9 1 2 4 4 8 9 1 1 3 1 1926 January 645,161 1,182,474 267,413 915,061 462,687 1,629, 590 802,827 800.498 26,265 113,824 23,407 February.. 644,549 1,180,911 272,565 908,346 463,638 1,626,632 793,360 807,007 26,265 113,796 17,993 March 662,852 1, 194,113 286,556 907, 557 468, 739 1, 613,408 755, 524 827,047 30, 837 107, 963 39,808 April 663, 328 1,194,342 291, 539 902,803 1, 612, 558 754, 558 829,866 28,134 109,, 011 37,265 J N D J A S M O u u e e o u c n l a p t c y g v o y e t e u e e b m s m m e t r b b b e e e r r r . . . . 6 6 6 6 6 7 7 6 5 7 8 3 5 7 7 7 7 3 5 4 2 , , , , , , , 1 1 8 4 2 3 7 2 0 2 4 1 4 3 3 3 3 7 6 3 4 1 1 1 1 1 1 1 1 , , , , . , , , 2 1 1 3 2 2 2 1 8 9 2 0 9 6 0 5 9 8 0 0 0 6 3 , , 2 , , , , , , 4 2 1 8 8 2 5 6 4 7 3 3 1 7 1 5 1 4 2 4 3 1 8 8 2 2 3 2 2 3 2 3 9 2 9 8 2 9 2 9 . 8 2 8 8 6 0 7 0 , , , , , , , , 9 0 8 2 2 2 3 6 6 8 5 2 0 4 8 0 9 4 7 2 9 3 4 0 9 9 9 9 9 9 9 9 7 4 0 1 0 6 0 0 2 8 0 7 5 8 7 4 , , , , , , , , 1 0 4 4 2 6 6 7 6 3 5 5 5 6 2 2 3 2 8 0 2 1 8 9 4 4 4 4 4 4 4 4 6 6 6 6 6 6 7 7 9 8 6 5 7 3 3 4 , , , , , , , , 2 9 9 6 9 5 9 5 9 2 0 8 9 2 7 5 0 9 0 5 1 5 5 2 1 1 1 1 1 1 1 1 , , , , , , , , 6 6 6 6 6 6 6 6 2 1 9 7 1 8 2 5 2 5 8 1 7 3 7 3 , , , , , , , , 7 7 4 3 2 5 4 3 3 1 5 7 7 3 0 7 2 3 9 2 4 9 3 7 8 7 7 7 7 7 7 7 0 9 7 5 7 5 8 5 0 0 1 9 1 7 1 5 , , , , , , , , 8 0 7 9 5 3 5 3 5 1 1 4 2 0 1 0 7 1 0 0 0 6 1 3 8 8 8 8 8 8 8 8 8 3 4 8 4 3 4 7 4 3 7 8 6 3 1 0 , , , , , , , ,0 9 0 0 9 0 6 5 8 1 1 2 3 6 3 9 3 9 1 0 0 5 3 7 2 1 1 1 1 1 1 2 9 1 9 8 9 5 2 , , , , , , , , 8 1 1 1 8 5 7 9 3 5 9 2 9 1 6 5 8 9 8 8 9 3 7 1 1 1 1 1 1 1 1 1 1 0 0 0 1 0 0 1 7 3 0 6 6 9 8 0 , , , , , , , , 9 1 1 3 5 7 9 5 8 5 9 3 0 2 9 2 2 4 0 4 0 4 2 8 4 2 4 3 3 3 5 5 0 3 3 6 8 3 5 1 , , , , , , , . 4 4 8 1 8 9 3 7 7 5 7 3 6 4 3 5 1 6 3 1 7 7 6 0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN SAN FRANCISCO—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Reserves Borrowwith ings from Due to Due Date (Wednesday) Loans Federal Federal banks from Invest- reserve reserve banks Total ments Total Net Time Govern- bank bank Total c O u n r it s i e e - s All other demand ment 1926 Jan. 6 666,366 492,182 128,944 363,238 174,184 622,407 321, 708 283, 558 17,141 46, 641 17,855 110,541 52,479 13 667,402 490.668 128, 369 362, 299 176,734 626,082 326,672 282, 269 17,141 46, 236 13,812 110,677 52, 785 20 674.178 493,476 130,421 363,055 180, 702 622, 547 324, 728 280,678 17,141 47,703 21, 085 104, 848 50, 570 27 665,442 485,947 126,761 359,186 179, 495 609, 700 314, 545 278, 014 17,141 45, 259 22, 005 95,976 48,876 Feb. 3 667,114 485.669 130,987 354,682 181,445 615,427 316,913 281, 373 17,141 43, 685 17, 839 98,408 48,278 10 668,364 485,397 132,695 352, 702 182,967 624, 243 323, 222 283,880 17,141 47, 272 9,387 102,001 54,155 17 669,728 485,108 131,938 353,170 184,6.20 626, 798 324,994 284, 663 17,141 49, 708 10, 577 107,430 52,533 24 660,647 492,899 135,161 357, 738 167, 748 612,380 311,812 283,427 17,141 45, 653 11,163 101,733 53,389 Mar. 3 666,756 505,538 142,195 363, 343 161,218 601, 637 291, 694 292,802 17,141 43,343 27,434 101,8D4 50,053 10 670,304 493,548 136,760 356,788 176,756 602, 584 296,187 289,256 17,141 42,052 23, 507 96, 873 50, 538 17 684.179 498,277 139, 375 358,9Q2 185,893 305, 671 288,180 26,829 43, 365 35, 514 94,987 52,378 24 676, 555 491,326 140,635 350, 691 185, 229 602,594 294,232 287, 584 20, 778 43, 380 46, 537 88,810 50,811 31 679,552 496,420 144,376 352,044 183,132 619, 215 303,102 295, 335 20, 778 45, 502 33,421 89, 625 46,621 Apr- J::::::::::::::: 673,828 492, 255 144,128 348,127 181, 573 610,042 297, 729 291, 535 20, 778 38, 905 28, 780 94,477 48,841 677,110 495, 599 144,077 351, 522 181, 511 619, 509 309,738 288,993 20, 778 45, 930 31, 204 97,450 50,200 21 673, 646 491,657 143,428 348,229 181,989 605,170 297,868 290, 212 17, 090 44,866 37, 484 88, 578 52,820 28 674,241 491,413 143,862 347,551 182, 828 609,102 297, 579 294,433 17, 090 44, 592 30, 696 84,887 48,666 May 5 682,307 498,119 145,216 352,903 184,188 607,505 294,228 296,871 16,406 45,076 39, 363 84, 222 47,334 12 680,941 494,149 144,713 349,436 186, 792 611,044 298,156 297, 302 15, 586 48,195 30, 201 84, 630 50,818 19 493,762 147,394 346, 368 186, 526 612, 679 302, 766 296, 233 13, 680 43, 040 29,883 92,032 46,674 26 681,408 493, 531 146,080 347,451 187,877 620,130 301, 715 305, 282 13,133 44,084 27, 831 90,172 48,697 June 2 .. 678,896 491,835 144, 660 347,175 187,061 623, 353 298,424 311, 796 13,133 41,449 24, 812 94,191 47,347 9 677,191 490,446 144,745 345,701 186, 745 622,914 300, 231 309, 550 13,133 40,945 i5, 738 97, 689 46,702 16 679,165 491,456 142,606 348,850 187,709 619,198 296,443 309, 622 13,133 41,266 17,450 92,456 56,866 23 680,914 491, 271 142,495 348, 776 189, 643 620,239 302,624 304,482 13,133 40,956 21, 322 91,493 53,392 30 679,471 491,428 143, 739 347, 689 188,043 617,101 303, 657 301,954 11,490 42,123 19, 250 98,416 52,169 CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 14.—REPORTING MEMBER BANKS IN SAN FRANCISCO-—PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS—Continued [In thousands of dollars] Net demand, time, and Government Loans and investments deposits Reserves Borrow- Date (Wednesday) Loans r F e w e s d e i e t r h v ra e l in F r g e e s s d e f e r r v r o a e m l D ba u n e k t s o b f D a ro n u m k e s Total On se- I m nv en es ts t- Total de N m e a t nd Time G m ov e e n r t n- bank bank Total curities All other 1926 July 7 676, 813 491, 568 144,049 347,519 185,245 614, 334 298,228 305,190 10,916 39, 333 28,123 105, 495 52,273 14.. 674, 725 490,199 144,098 346,101 184, 526 619,989 303,441 306, 506 10,042 42,677 30,421 102,805 59,166 21 672,315 487,138 143,693 343,445 185,177 617,166 302,411 3Q4,713 10,042 42, 657 28, 265 100,432 54,907 28 678, 393 492,175 146, 272 345,903 186,218 617, 949 303, 353 304, 554 10,042 41,403 31, 539 95,997 49,575 Aug. 4 677, 827 493,911 145, 551 348,360 183,916 620,285 309, 710 300, 533 10, 042 41, 046 30,063 104,496 50,228 11 679,922 494, 531 145,047 349,484 185,391 623,744 312,058 302,899 8,787 41, 575 102,946 51,379 18 681, 775 496,893 144,465 352,428 184,882 630, 257 321,771 300, 578 7,908 44,191 25,112 110,859 52, 527 25 686, 008 501, 038 145, 608 355,430 184,970 625, 326 322,850 296, 464 6,012 44,290 33, 322 107, 592 46,973 Sept. 1 685,080 498,497 144, 534 353,963 186, 583 619, 675 318,240 295,423 6,012 43,714 45,070 107, 636 52,872 8 683, 484 142,952 355,867 184, 665 608, 786 305, 849 296,925 6,t)12 43, 572 46,119 109, 367 53, 779 15 691,340 504,519 146,521 357,998 186,821 639, 288 320,050 300,776 18,462 44,119 38,690 117,098 57,470 22 690,971 506,923 146, 693 184,048 624,600 306,890 299, 248 18,462 41,125 48,504 106,122 54,857 29 691, 990 508,932 147,824 361,108 183,058 619, 639 302,901 298, 276 18, 462 42,093 54, 581 105,006 50, 605 Got. 6... 695,021 512, 761 149,324 363,437 182, 260 619, 440 305, 678 295, 300 18,462 41,903 51,176 106, 844 50,423 13 696, 729 513,923 149, 656 364, 267 182,806 622, 516 309,349 296, 510 16,657 42,877 50, 355 112, 785 54, 248 20.. ... .... 696, 595 517, 097 152,957 364,140 179,498 612, 621 306,430 294, 987 11,204 42, 577 48, 772 107, 469 54, 671 27 694, 623 516,340 150,911 365,429 178, 283 608,422 305,619 293, 279 9,524 41, 725 51, 880 101, 760 52,721 Nov. 3 519, 261 150,847 368,414 179,378 615, 593 308,748 297,321 9,524 43, 589 51,146 103,128 50,198 10 697,201 518,045 149, 278 368,767 179,156 615,764 309,273 8,095 42,307 45, 036 108,439 51, 523 17 , 700,771 520,817 149,000 371,817 179,954 618,401 313,963 298, 771 5,667 43,205 42,013 105,194 50, 568 24 699,637 521,125 150,161 370,964 178, 512 618, 581 319,280 294, 201 5,100 43, 356 37,151 106, 334 50,129 Dec. 1 696,670 520, 566 149,759 370,807 176,104 612,912 311,541 296, 271 5,100 43, 584 37,015 109, 293 51, 749 8 700, 577 522,445 149,670 372,775 178,132 613,947 313, 527 295,320 5,100 42, 230 33,618 108,137 47,848 15 _... 707, 544 521, 853 151, 657 370,196 185, 691 629, 548 326, 431 291,080 12,037 44,652 30, 212 108, 652 59,991 22 708,029 525,402 153,389 372,013 182,627 617, 982 314, 220 291, 725 12,037 43,063 39,811 103, 234 58,060 29 713, 357 529, 347 156, 720 372,627 184, 010 634, 201 321,634 300, 530 12, 037 43,455 37,110 108, 599 54,254 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTRICT NO. 12 SAN FBANCISCO 475 No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS [In thousands of dollars. For explanatory note see p. 181) Total for 18 centers i Bakersfield, Calif.11 Month 1926 1924 1926 1925 January 3, 002, 325 2, 720, 698 2, 590, 948 13,16S 12, 714 11, 275 February 2, 934, 783 2, 495, 365 2,470, 230 11, 243 9,821 9, 360 March 3, 268, 963 2, 762, 696 2, 662,187 12,999 12, 308 11,613 April 2, 955,186 2, 604,174 2,456,815 11, 777 10, 787 11,011 May 2, 765,831 2, 519,105 2,401, 209 11,019 11,446 10,111 June 2, 896, 365 2, 689, 431 2,319, 693 12,055 11,863 9,071 July ... 3, 069, 482 2, 699, 757 2, 391,152 13,496 11, 927 10,511 August 2, 806, 373 2, 631, 514 2, 335, 307 10,900 10, 095 9,161 September 2, 928, 452 2, 714, 261 2,335, 245 11,717 10,948 9,232 October 3, 036, 558 2, 992, 897 2, 578, 750 14, 431 12, 500 11,537 November 2, 777, 562 2, 750,830 #2, 359,349 13, 678 12,382 10, 458 December 3, 220, 814 3,150, 544 2, 634, 300 15, 364 14,040 13,125 Total. 35, 662, 694 32, 731, 272 29, 535,185 151, 847 140, 831 126, 465 Bellingham, Wash.* Berkeley, Calif.* Boise, Idaho Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 J anuary 9,125 8,954 21, 713 20, 759 20, 090 15, 535 13, 906 11, 710 February... 8,025 7,521 6, 775 17,176 16,392 18, 087 11,137 9,259 10,104 March 11,176 9,546 9,209 20, 216 18,049 16, 671 11,923 10,227 10,695 April 10, 742 9,620 8,835 19, 504 18,045 16, 966 11, 949 10,419 10,888 May 9,628 9,086 8,418 19, 595 18, 880 18,184 11, 845 10, 082 10, 568 June 10, 227 9,811 8,629 17,614 16, 683 17,450 13,185 12,613 11,436 July 10, 980 9,639 8,376 19, 524 18, 537 17,096 14,832 13, 949 13,191 August 9,966 9,162 8,404 17,846 17, 574 16, 537 13, 538 12, 660 11,061 September. 10,338 9, 360 8,762 19,403 17,340 16, 544 14, 747 13, 797 11,869 October... 10, 074 9,443 8,850 19, 273 19, 648 17, 310 15,148 14,247 13,473 November. 9,189 8, 710 7,595 19,510 16,809 16,480 13, 462 14, 213 11,269 December. 9,929 9,616 8,193 22, 025 20, 220 17, 329 15,272 15, 516 14, 216 Total 119,399 110, 212 101, 000 233, 399 218, 936 208, 744 162, 573 150,888 140,480 Eugene, Oreg.* Everett, Wash.* Fresno, Calif. Month 1926 1925 1924 1926 1925 1926 1925 1924 January... 6,491 6,227 10, 713 12, 424 13,028 39, 470 31, 322 35, 428 February.. 6, 559 5,807 10, 50.2 10, 367 10, 419 31, 283 25, 369 31, 332 March 7,707 6,737 10, 392 13, 523 13,318 36, 394 28, 073 28, 782 April 7,625 7,782 12,177 13, 764 12, 981 36,418 28, 494 29, 369 May 8,058 7,442 11, 964 13,447 13,204 32, 516 26, 920 28, 577 June 7, 592 12,314 13, 827 13, 761 12, 491 32, 287 28,479 26, 426 July 8,131 8,082 12, 274 14, 342 13, 447 12,149 34, 675 33, 788 30,247 August 7, 095 7,810 11,922 12,184 12,194 11,803 33, 694 44,149 33,987 September. 7,549 7,930 11,397 12, 994 13, 764 12, 530 47, 712 52, 627 38, 921 October... 8,235 8,416 10, 519 13, 586 13, 553 13,063 57, 831 59, 502 44,160 November. 8, 484 7,959 7,269 13, 027 12, 444 12, 961 50, 851 51, 465 37, 908 December. 8,484 7,607 7,019 12, 703 13, 746 12, 750 51, 790 57, 493 34, 521 Total 92, 716 89, 391 128, 462 156,188 155, 859 87, 747 484, 921 467, 681 399,658 Long Beach, Calif. Los Angeles, Calif. Oakland, Calif. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 55, 779 54,332 67,169 884, 893 818,585 798, 822 167, 449 146,962 135,931 February 51,011 42,132 57, 663 842,902 745,254 790,767 162,429 115,190 122,486 March 56,833 51,276 59,599 975,120 831,967 185,901 134,953 133,582 April..- 56,029 48, 429 51,916 863,984 778,200 753,656 168, 264 136, 691 126, 637 May 48,192 45, 562 54,143 794, 586 758,207 732,207 158,101 148,077 119,643 June 45,931 43,813 46, 850 863,539 787,260 700,256 167,827 133,867 106,514 July 49, 952 47,265 47, 479 917, 682 778, 672 703,307 184,599 135, 421 124,445 August _. 43,788 44, 629 43, 746 817,286 734, 485 667,020 153,323 140,839 130,581 September 43, 869 42,304 42,825 851, 766 760,085 650,024 165, 951 143, 489 118,326 October 47,007 49,916 46,103 884,377 803,085 748, 230 164,915 158,485 124,087 November 41,817 45,055 40, 784 831,028 781,740 707, 973 152,335 149,807 111,279 December 50, 702 57, 421 48, 520 948,334 880, 620 801, 463 234,161 176,211 127,422 Total 590,910 572,134 606,797 10,475,497 (9,458,160 8,920, 586 2,065, 255 1, 719,992 1, 480,933 1 Figures for cities marked with an asterisk (*) are not included in the district summary or in the national summary of 141 centers. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

476 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—-DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] Ogden, Utah Pasadena, Calif. Phoenix, Ariz.* Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 32,921 28,269 29, 640 41,205 38,377 40, 819 27,590 27,663 22,590 February.._ 19, 556 22,436 21,336 36, 932 34,425 36,151 22, 744 22,134 20, 498 March 19,150 23, 559 24,311 42,337 40,112 38, 604 26,948 23,281 20, 627 April 17,017 20,863 21,164 38,163 36, 494 33,902 26,007 22,138 19, 925 May 14, 951 20,397 20,521 37,642 34,725 31,804 26,211 22, 659 21, 818 June 15,003 21, 699 19, 748 34, 539 33,408 28,811 24, 611 22,721 21,063 July 16, 842 21,133 21,640 37, 677 35,927 29,559 25, 877 21,322 18, 864 August 21,284 24,063 23, 419 32,306 30,343 27,296 22,035 18,197 16, 894 September.. 22,494 27, 751 21,727 31,631 29,346 26, 670 23,357 20, 708 18, 497 October 22, 850 33,024 28,243 j 36, 666 33, 455 31, 761 26, 818 26,750 23, 876 November.. 21,204 38, 641 25,957 34, 769 32, 767 28, 519 28,126 28,362 24,078 December.. 25,976 38,308 28,506 I 40, 642 37, 308 33, 217 29,261 30, 610 27,023 Total.. 249,248 320,143 286,212 | 444,509416,687 387,113 309, 585 286, 545 255, 753 i Portland, Oreg. Reno, Nev. Ritzville, Wash.* Month 1926 1925 I 1924 1926 1925 1924 1925 1924 January ! 167,646 153,573 157, 854 9,379 8,054 10,125* 1,011 728 February 157,839 134,296 152, 737 7,212 6,184 7,960 886 773 624 March i 181,645 156,551 164,305 8,413 8, 563 7,320 754 664 725 April --_-_„! 173,463 167, 684 167,935 8,584 7,656 7,176 717 680 849 May I 182,292 153, 874 159, 458 9,005 8,840 7,888 841 797 723 June j 184,267 165,202 149, 470 9,989 9,568 8,058 653 722 744 July _j 190,805 173,271 153, 459 10,281 9,320 7,971 630 539 632 August 194,429 168, 461 153,728 9,235 9,220 7, 564 917 730 711 September 189,142 177,871 167,746 9, 646 8,870 7,655 1,042 1,307 1,006 October j 198,103 203,184 195,393 10, 658 9,609 8,035 1,198 1,410 1,282 November j 190,053 165,274 156, 501 8,431 8,497 8,057 1,165 964 814 December ! 184,944 179, 552 163, 451 10, 232 -9, 544 8, 470 888 1,338 659 Total.... .12,194,628 1,998,793 1,942,037 111,065 103, 925 96,279 10,702 10,652 9,575 Sacramento, Calif. Salt Lake City, Utah | San Bernardino, Calif.* Month 1926 1925 1924 1926 1925 1924 I 1926 1925 1924 January 35, 321 44, 889 61, 947 74, 567 9,252 8,920 8,955 February... 31,126 35, 942 57, 496 55,994 53, 885 7,737 6,880 7,220 March 36,949 36,301 67, 382 62, 935 8,811 7,797 8,142 April 29,368 34, 806 40,191 75,466 64,392 8,890 8,262 7,906 May 28,724 38,004 44,523 64,833 61,983 8,477 8,343 8,172 June 29, 664 35, 423 36,027 62, 922 9,156 8,400 8,323 July 32, 111 34,178 39,949 64,375 60, 916 9,402 8,731 8,071 August 30,077 32,299 47, 617 66, 703 60, 628 8,563 7,729 7,612 September. 38,035 33,138 38,038 70, 673 61,492 i 8,775 7,776 7,191 October 33, 534 38, 300 39,636 83,979 70,831 | 9,122 8,148 7,591 November.. 30,081 37, 215 41,179 79, 336 65,314 ! 8,815 7,573 7,306 December.. 39,135 37,900 34, 892 95, 995 85,561 i10, 561 9,064 8,332 Total. 394,125 438,395 520, 376 865,016 865, 292 779,765 I 107,561 97, 623 94,821 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

477 DISTBICT NO. 12—SAN FRANCISCO No. 15.—DEBITS TO INDIVIDUAL ACCOUNTS—Continued [In thousands of dollars] San Diego, Calif. San Francisco, Calif. San Jose, Calif.* Month 1926 1925 1924 1926 1924 1926 1925 1924 January 65, 892 52, 903 54, 670 1,053, 359 919, 229 813, 964 28,116 27, 889 24, 876 February 58. 775 46, 573 49,170 1,161,764 814,165 21,374 20, 431 19, 927 March 71, 379 47, 827 1,199,017 980, 291 846, 601 25,027 22, 931 19, 968 April.. 69, 925 54, 320 47,112 1,041,376 880, 584 799,072 24, 670 23, 690 20, 326 May 63,369 52, 406 45, 070 978, 495 848, 497 790,811 23, 689 21,463 18, 971 June.. 63, 328 56, 018 48,194 1,009,498 950,043 777, 716 23, 369 22, 468 19, 256 July 67, 538 57, 446 53, 207 1,075, 332 966, 942 808, 352 32, 869 27, 335 24,087 August 58, 762 53, 027 46,082 983, 850 786,035 24,421 j26, 445 24, 526 September... 59, 963 55,121 44, 616 1,004, 534 939,903 797, 842 28, 246 26, 724 23,173 October 61, 669 59, 926 46, 989 1,052, 830 1,071,723 857,027 32, 793 33,074 30, 919 November... 60, 698 55, 847 43,733 935, 606 946, 872 790, 866 30, 346 29, 527 25,390 December... 69, 521 68, 704 52, 957 1,102, 815 h 121, 610 885, 396 28,306 29,200 24,390 Total 770, 819 579, 62712, 598, 47611, 496, 447 , 767, 847323, 226 311,177 275, 809 Santa Barbara. Calif.* Seattle, Wash. Spokane, Wash. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 15,862 13,984 206, 480 196,406 179,617 56,466 53,996 47, 549 February.. 13,380 12,390 12,138 181, 528 171,188 154, 758 48, 028 42, 840 44,668 March 16, 257 14, 258 12, 533 227, 651 202, 715 197,360 54,014 49,475 48, 769 April 14,988 13, 353 11, 914 221,119 195, 786 182, 295 57,958 50, 505 48,062 May 13, 824 12, 685 12,823 200, 714 184,127 177,052 57, 921 47, 527 45, 540 June 14, 588 11,841 11, 542 212,032 207, 924 179, 757 58,276 53, 432 47,274 July 15,268 13, 235 12, 317 216, 056 198,474 182,323 58,443 52,479 46, 562 August 12,318 14, 243 11,074 216,429 204, 054 178, 603 52,006 50, 927 45, 718 September. 13,011 14,965 12,158 234, 036 219,834 182,883 57,480 54,015 48,021 October 12, 617 17, 924 12.011 223.206 218, 220 194,144 60, 063 60, 215 52, 348 November- 12, 632 16,087 11,596 200,086 204, 235 171, 275 52,100 52,824 44,500 December. 13,811 16,190 13,203 211, 649 221, 937 186,810 57, 248 58, 751 47, 908 Total 168, 556 171,155 133, 309 2, 550, 986 2,424, 900 2,166, 877 670,003 566, 919 Stockton, Calif. Tacoma, Wash. Yakima, Wash. Month 1926 1925 1924 1926 1925 1924 1926 1925 1924 January 30,753 27,921 26, 994 46,880 44,713 39, 795 13,049 12,694 10,008 February... 23,387 21,824 21, 598 39,448 38,672 34,812 10,511 9,392 9,142 March 27,188 28-, 011 23,894 50,126 44,756 51, 516 12,591 11,786 10,345 April 26,406 23,123 23,024 48, 796 43,051 40.034 13, 286 11,603 9,990 May. 26,862 22,179 21, 791 44,112 43,242 40,248 11, 556 11,606 9,382 June.. 26,160 24,443 46, 54^1 48,005 40, 793 13,411 12, 245 8,803 July 27, 237 24,654 22,377 48,071 41,700 38,057 14,660 10, 763 8,111 August 24,349 27,117 23,763 44,152 43, 555 39, 069 12,276 12,625 9,390 September.. 27,174 27, 239 27,789 43, 567 42,976 37,699 15,271 15,222 11,102 October 26,847 31,134 22,889 46,273 45,690 40,045 16, 933 19,203 15,356 November.. 27,733 28,807 24, 516 42,109 40,375 36,678 15,044 17,860 13,041 December.. 30, 808 30, 982 27, 029 47,583 47, 703 41, 540 13,483 14, 989 12,421 Total 324,934 317,434 286, 302 547,658 524, 438 480,286 162,071 159, 988 127,091 38494—27- -32 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

478 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 16.—MONEY RATES1 IN SAN FRANCISCO, LOS ANGELES, PORTLAND, SALT LAKE CITY, SEATTLE, AND SPOKANE [Rates prevailing during week ending with 15th of month] SAN FRANCISCO Loans secured by Month m l P o c e r a o i r n m m c s i - a e 2 l I l b n o a a t n e n r k s - c p h r a i n m g e e s c t o o l c l k a t e e x ra - l b s y L h e c o o w u u a a r s n e r e s d e- C lo a a t n tl s e receipts Demand Time 1926 January 5 5-6 53^-6 6 February 5 -h\ 5-6 5^6 6 6 March 5-6 5 5 -6 5-6 5-6 ApHl 5-6 5-6 5H-6 6 May 5-6 514-6 6 June 5-6 3 5 -6 3 5-6 July 5-6 5 -6 5-6 August 5 5-6 September. _ 5H 5-6 5 -5 5-6 6 October 5-5^2 5-6 6 November. 5-53/6 5-6 3 5-6 December 55^ 5 -6 5-6 LOS ANGELES I 1926 January 6 6 6-7 7 February. _ 6-7 6 6-7 6-7 March. _ 6-7 6-7 6-7 April 6-7 6-7 6-7 May 6 6-7 7 June 6-7 6-7 7 July 6-7 £-7 7 August... 6-7 6-7 7 September _._ 6-7 6-7 7 October 6-7 6-7 7 November 6-7 6-7 7 December _. 6-7 6-7 7 PORTLAND 1926 January 6 6 6 6-7 6-7 6-634 February.. 6 6 6-7 6 6-7 6-6H March 6 6 6 6 6-7 6 April 6 6 6 6 6-7 6 May_. 6 6 6-7 6 6-7 6 June 6 6 6-7 6 6-7 6 July 6 6 6-7 6 6-7 4 August -. 6 6 6-7 6 6-7 September 6 6 6-7 6 6-7 October 6 6 6-7 6 6 November. __ 6 6 7 6 6 December 6 6 6-7 6 6 SALT LAKE CITY 1926 J anuary 5-6 6-7 February 6 6 March 6-7 April 5-6 6 May 6 6 June 6 6 July 5-6 6-7 August 6 September 6 October 6 November 6 December . 6 CO CO CO CO co 7 7 7 7-8 4-7 6-7 7 7-8 7 7 6-8 7-8 5-7 6-8 6-8 7-8 7 7 7-8 6-8 36 8 6-7 7 7-8 6 6-7 7 7-8 6 6-7 7 7-8 6 6-7 7 7-8 6 6 7 7-8 6 6 7 7-8 1 Prevailing rates charged customers as reported by representative banks. The rates are those at which the bulk of the loans of the designated class were handled by reporting banks. 2 The rates shown in this column for months previous to June, 1926, are those charged for 30-90 day loans; beginning with that month, the quotations have been reported as applying to "prime commercial loans," without limitation to any particular maturity. Rates shown in other columns for the months January-May are comparable with those given under corresponding captions for 1924 and 1925 in the Federal Reserve Board's Annual Report for 1925, Part II, Table 12. Digitized for F3 RRAevSisEedR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISTEICT NO. 12 SAN FEANCISCO 479 No. 16.—MONEY RATES IN SAN FRANCISCO, LOS ANGELES, PORTLAND, SALT LAKE CITY, SEATTLE, AND SPOKANE—Continued SEATTLE Month m P c e r o i r m m ci - e al I l b n o a t a n e n k r s - L c o h p a a ri n n m s g e e s e s c c t o u o l r c l e a k d t e e b r x a y - l b s y L e h c o o w u u a r a s n e r e s d e- C lo a a t n tl s e Demand Time receipts 1926 January 6 5-7 6 6 „ February 6 5-7 6 6 7 March 6 5-7 6 6 7 April 6 6-6H 6 6 7 May 6 5-6M 6 6 7 June 6 6-6 M 6 6 7 July 6 6-6H 6-7 6-7 7 August 5-6 6-6H 6-7 6-7 6-7 September 6-7 5-6H 6-7 6-7 6-7 October 6-7 5-6H 6-7 6-7 6-7 November 5-7 5-WA 6-7 6-7 6-7 December 6-7 6-6^ 6-7 6-7 6-7 SPOKANE 1926 January 6-7 7 6-7 February-. __ 6-7 6-7 6-7 March 7 6-7 6-7 April-- 7 7 7 May 6-7 7 7 June 6-7 7 7 July 6-7 7 6 August 6-7 7 September 6-7 7 October 6-7 7 6 November 6 6-7 7 December _ 6 7 6-8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

APPENDIX 481 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RECOMMENDATIONS OF THE FEDERAL ADVISORY COUNCIL TO THE FEDERAL RESERVE BOARD OFFICERS AND MEMBERS OF THE FEDERAL ADVISORY COUNCIL FOR THE YEAR 1926 OFFICERS President, F. O. WETMORE. Vice President, C. A. MORSS. Secretary, WALTER LICHTENSTEIN. EXECUTIVE COMMITTEE F. O. WETMORE. G. A. COULTON. C. A. MORSS. BRECKINRIDGE JONES. J. S. ALEXANDER. L. L. RUE. MEMBERS C. A. MORSS, Federal Reserve District No. 1. J. S. ALEXANDER,* Federal Reserve District No. 2. L. L. RUE, Federal Reserve District No. 3. G. A. COULTON, Federal Reserve District No. 4. J. F. BRUTON, Federal Reserve District No. 5. P. D. HOUSTON, Federal Reserve District No. 6. F. O. WETMORE, Federal Reserve District No. 7. BRECKINRIDGE JONES, Federal Reserve District No. 8. THEODORE WOLD, Federal Reserve District No. 9. P. W. GOEBEL, Federal Reserve District No. 10. B. A. MCKINNEY, Federal Reserve District No. 11. H. S. MCKEE, Federal Reserve District No. 12. RECOMMENDATIONS OF THE FEDERAL ADVISORY COUNCIL TO THE FEDERAL RESERVE BOARD FEBRUARY 18, 1926 TOPIC NO. 1.—Customary report on business and financial conditions in the various districts and recommendation as to whether or not discount rate should be changed. Recommendation.—The members of the council made verbal reports to the board regarding business and financial conditions in the various districts. The council makes no recommendation with regard to discount rates at this time. TOPIC NO. 2.—Installment financing—its uses, dangers, and appropriate methods of control. To what extent was installment buying a factor in the sustained and increased business activity during the year 1925. Recommendation.—The principal danger that we see in installment financing now is the mortgaging of future earnings. These debts in the event of a contraction of business would undoubtedly tend to postpone a recovery. Installment buying in 1925 undoubtedly was greatly responsible for the increased business activity during that year. 483 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

484 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD This business within the last few 3rears has increased so rapidly and is so unrestrained that the council has not before it the statistics on which to predicate a definite answer to the question submitted by the board. Members of this council are informed that several associations through committees are collecting statistics, and the council prefers tQ postpone answering the question here presented until reliable data is available. TOPIC NO. 3.—The outlook for both long and short term money rates during 1926. Recommendation.—The present outlook is for ample supplies of credit at or below present market rates. TOPIC NO. 4.—The outlook for foreign financing in 1926. Recommendation.—Recent experience of investors in foreign securities has been generally satisfactory and profitable. The prospects are that a substantial demand will be made on our money market from foreign sources during the year 1926. This could be readily and substantially increased provided the Italian debt settlement is promptly confirmed and an agreement between France and the United States is reached during the year. It seems likely to us that large amounts of many good foreign securities could readily be absorbed during the year by American investors, to the advantage of American business. TOPIC NO. 5.—The outlook for building construction in 1926. Recommendation.—It would appear that the pressing demands for new construction had largely been met. Members of the council have been advised that building construction in 1926 will nevertheless be in large volume, but probably below the level of 1925. MAY 21, 1926 TOPIC NO. 1.—Has the Federal reserve system any responsibilities through credits extended to central banks in the matter of stabilizing foreign currencies not on an effective gold basis? If so, what can it properly and safely undertake to do? Recommendation,—All such applications ought to receive the most friendly consideration, in view of the interests of our own foreign trade. In the case of loans, however, to central banks of countries not on a gold basis the risk must be considered as especially hazardous, and it will be necessary to give careful consideration, in the event of such applications, to the political and other conditions in the countries applying for such credit. TOPIC NO. 2.—What is the function of New York call loans in our banking system as modified by the Federal reserve act? Recommendation.—The New York call money market under our banking system as modified by the Federal reserve act affords the basis of a desirable secondary reserve for banks throughout the country. TOPIC NO. 3.—What indications are there, if any, of a recession in business? What was the significance of the recent collapse in the securities market? Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KECOMMENDATIONS OF ADVISORY COUNCIL 485 Recommendation.—There is no marked contraction of present business, although the prospect for future business is somewhat uncertain, as orders in some lines are diminishing. This latter condition may be readily modified if crops should prove favorable. The collapse in the securities market appears to the council to have been due to inflation in values of speculative stocks. TOPIC NO. 4.—What should be the rate and open policies of the Federal reserve banks and board in case there are definite indications of a marked recession in business? Recommendation.—In our opinion the policy of the Federal reserve system in regard to rediscount rates and open-market policies must be adjusted to conditions as they arise. It is impossible to formulate in advance any set policy in these matters. We also doubt whether a reduction from present low rates would be helpful in case a recession in business should take place. TOPIC NO. 5.—In the opinion of the council, is stabilization of the price level by means of rediscount rates and open-market operations possible? What would be the result of such amendment to the Federal reserve system if adopted? Recommendation.—In the opinion of the council, stabilization of the price level can not be accomplished by means of rediscount rates and open-market operations. In the main, fundamental conditions of the business situation are not subject to control by the Federal reserve banks. Moreover, the council believes it would be extremely dangerous were the Federal reserve system charged with the responsibility for promoting a stable price level for commodities by means of the powers vested in the Federal reserve system. The index of prices represents merely an average, and it has often been true in the past and will be so in the future that the prices of some commodities are high while those of others are low. Whenever such a situation should arise the interests of various lines of business would be in conflict and the system would become subject to most undesirable pressure exerted now in favor of one commodity and then of another. SEPTEMBER 17, 1926 TOPIC NO. 1.—What change, if any, should be made in regard to the present agencies of Federal reserve banks established in Cuba? Recommendation.—The Federal Advisory Council voted that in its opinion there should only be one agency in Cuba, the Federal reserve bank which is to maintain this agency to be selected with due regard to the operation and movement of commerce and trade. TOPIC NO. 2.—Interpretation of regulations regarding eligibility of paper presented to Federal reserve banks for rediscount. Recommendation.—The Federal Advisory Council understands that the interpretation of the eligibility regulations for paper to be rediscounted has been referred by the Federal Reserve Board to the governors, with a view that they may suggest simplification of the regulations so that the paper of companies having one or more subsidiaries may be made eligible for rediscount without at the same time making paper of finance companies eligible for rediscount and otherwise violating the true intent and spirit of the Federal reserve act. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

486 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Attention has also been called to the Federal Advisory Council that the various Federal reserve banks have different practices and requirements as to the form and character of the statements to be filed by companies. The Federal Advisory Council believes that the requirements and statements should be standardized and that companies having one or more subsidiaries should be required to file with their banks of deposit a consolidated statement and detailed statements of all their subsidiaries. TOPIC NO. 3.—At present a tax of 13J^ per cent is imposed upon the discount received by any foreign corporation from American bankers' acceptances. Recommendation.—The tax of 13}^ per cent imposed upon the discount received by any foreign corporation from American bankers' acceptances restricts the market for American bankers' acceptances. The Federal Advisory Council requests the Federal Reserve Board to use its good offices to have the law and/or regulations of the present income tax law amended so that the income derived from American bankers' acceptances by foreign holders may not be subjected to an income tax. TOPIC NO. 4.—Should the Federal Reserve Board continue its present policy of reducing reserve requirements on demand deposits from 10 per cent to 7 per cent in the case of outlying banks in large cities? Recommendation.—The Federal Advisory Council requests its members to make a careful investigation of this subject and report at the next meeting. NOVEMBER 19, 1926 TOPIC NO. 1.—Rediscount and open-market policies of the Federal Reserve Board. Recommendation.—The Federal Advisory Council concurs in the attitude of the Federal Reserve Board that the present status quo of rediscount rates be maintained, and the open-market policy as explained by the Federal Reserve Board is approved. TOPIC NO. 2.—The McFadden bill. Recommendation.—The Federal Advisory Council wishes to reiterate at this time its recommendation of February 16, 1925, in respect to the McFadden bill, which reads as follows: At the request of the Federal Reserve Board the executive committee of the Federal Advisory Council has reviewed the terms of the McFadden bill, H. R. 8887. While it is not practicable for the committee to review the more technical aspects of the bill or to give its opinion upon the more detailed amendments of the various sections of the national bank act or other Federal statutes, nevertheless, as previously reported to the Federal Reserve Board, it is in favor of its main purpose. For some time it has been apparent that more liberal provision must be made by Congress for national banking associations, because of the fact that in certain sections of the country national banks are considerably handicapped in competing with State institutions. This is more particularly true now that section 9 of the Federal reserve act provides that a State institution may become a member bank and "retain its full charter and statutory rights as a State bank and trust company and may continue to exercise all corporate powers granted it by the State in which it was created, and shall be entitled to all privileges of member banks/7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KECOMMENDATIONS OF ADVISORY COUNCIL 487 The executive committee of the Federal Advisory Council, therefore, believes that so far as the McFadden bill is designed to protect the national banking system and to safeguard Federal reserve membership, it is desirable legislation and should be enacted into law. There is one feature of the bill, however, which the executive committee of the Federal Advisory Council does not believe it should let pass without explicit comment and which in its opinion may ultimately work a gross hardship on some national banks and perhaps seriously affect both State and national membership in the Federal reserve system. It is the so-called Hull amendment. Without discussing the details of those sections of the bill designed to authorize the establishment of branch banks, the Hull amendment makes it impossible in the future for any national bank located in a State which does not now authorize branch banking to open branch banks even if at a later date the State legislature should decide to permit State institutions to do a branch bank business. Furthermore, that amendment also provides that any State bank or trust company in such a State which is now a member of the Federal reserve system must withdraw from the system if it should decide to do a branch banking business under the terms of a subsequent State law permitting branch banking after the enactment of the McFadden bill. In the opinion of the council, there is no reason in fairness or in logic for the Federal Congress to authorize national banks to open branches in those States which now authorize State institutions to do a branch banking business and to deny that same right in the future to national banks which may happen to be located in a State which now prohibits branch banking but which may subsequently authorize it. The Federal Advisory Council authorizes its executive committee to memorialize either or both Houses of Congress to eliminate the Hull amendment from the McFadden bill. TOPIC NO. 3.—Does the Federal Advisory Council recommend that the practice of reducing reserves required from outlying banks in central reserve and reserve cities be continued? Recommendation.—The Federal Advisory Council in general does not approve of the practice of reducing the reserves required from outlying banks in central reserve and reserve cities. The council, however, realizes that exceptions have been made, and before reaching any final decision the council requests the Federal Reserve Board to furnish it with such data and recommendations as may have been xnade as a result of investigations of this question. TOPIC NO. 4.—Should the Federal Reserve Board release for publication the consolidated statement of condition of reporting member banks in the two central reserve cities before getting out the statement for the whole country? Recommendation.—The Federal Advisory Council believes it is inadvisable to publish only a part of the statement of condition of reporting member banks, as this may at times lead to false impressions as to the economic and financial conditions of the country. TOPIC NO. 5.—The view of the Federal xldvisory Council is desired in respect to the suggestion made to the Federal Reserve Board that the use of domestic bankers' acceptances be broadened, especially in two respects : (1) To permit the purchaser of goods under bankers' acceptance credits to draw bills having a maturity consistent with the usual and customary credit time that obtains in the relative trade, instead of requiring the shipper to draw the bill if it has a maturity in excess of the actual transit time of the goods; and (2) To permit the use of bankers7 acceptances secured by "independent converter's recepits" covering readily marketable staples to finance the carrying of certain staples during the time they are being converted into other forms of staples through a converter independent Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

488 ANNUAL REPORT OF THE FEDERAL EESERVE BOARD of the drawer, provided that the identity of the goods is not lost and the accepting bank remains secured by the independent converter's receipt. Recommendation.—The Federal Advisory Council requests the Federal Reserve Board to supply to each member of the council the full report of the committee which investigated the question submitted by the Federal Reserve Board. The members of the Federal Advisory Council will then be in a position to formulate some opinion at the next meeting of the council. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD REGULATION M, SERIES OF 1926 REDISCOUNT OF NOTES SECURED BY ADJUSTED SERVICE CERTIFICATES SECTION I. STATUTORY PROVISIONS Under the terms of the World War adjusted compensation act as amended, loans may lawfully be made to veterans upon their adjusted service certificates only in accordance with the provisions of section 502 thereof. Any national bank, or any bank or trust company incorporated under the laws of any State, Territory, possession, or the District of Columbia, is authorized, after the expiration of two years after the date of the certificate, to loan to any veteran upon his promissory note secured by his adjusted service certificate any amount not in excess of the loan value of the certificate, which is stated on the face of the certificate. The law provides that the rate of interest charged upon the loan by the lending bank shall not exceed by more than 2 per cent per annum the rate charged at the date of the loan for the discount of 90-day commercial paper by the Federal reserve bank of the Federal reserve district in which the ending bank is located. Upon the indorsement of any bank, which shall be deemed a waiver of demand, notice, and protest by such bank as to its own indorsement exclusively, and subject to regulations to be prescribed by the Federal Reserve Board, any such note secured by an adjusted service certificate and held by a bank is made eligible for rediscount with the Federal reserve bank of the Federal reserve district in which such bank is located, whether or not the bank offering the note for rediscount is a member of the Federal reserve system and whether or not it acquired the note in the first instance from the Veteran or acquired it by transfer upon the indorsement of any other bank; provided that at the time of rediscount such note has a maturity not in excess of nine months, exclusive of days of grace, and complies in all other respects with the provisions of the law, the regulations of the United States Veterans' Bureau, and the regulations of the Federal Reserve Board. SECTION II. DEFINITIONS Within the meaning of this regulation— (a) The term "the.act" shall mean the World War adjusted compensation act as amended; (6) The term "director" shall mean the Director of the United States Veterans' Bureau; (c) The term "certificate" shall mean an adjusted service certificate issued under the provisions of section 501 of the World War adjusted compensation act as amended; (d) The term "veteran" shall mean any person to whom an adjusted service certificate has been issued by the director under the provisions of the World War adjusted compensation act as amended; (e) The term "bank" shall mean any national bank or any bank or trust company incorporated under the laws of any State, Territory, possession, or the District of Columbia; (/) The term "note" shall mean a promissory note, negotiable in form, secured by an adjusted service certificate, and evidencing a loan made by a bank on the security of such certificate in full compliance with the provisions of the World War adjusted compensation act as amended and the regulations of the United States Veterans' Bureau. SECTION III. ELIGIBILITY In order to be eligible for rediscount at a Federal reserve bank, any such note must— (a) Arise out of a loan made by a bank to a veteran in full compliance with the provisions of the act and of any regulation which the director may prescribe; 489 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

490 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD (b) Be secured by the certificate issued to the maker, which certificate must accompany the note; (c) Be held by the offering bank in its own right at the time it is offered for ? rediscount; (d) Be negotiable in form and otherwise in the form approved by the director;: (e) Have a maturity at the time of rediscount not in excess of nine months, exclusive of days of grace; (/) Evidence a loan the amount of which does not exceed the loan value of the certificate for the year in which such loan was made; (g) Be payable with interest accruing after the date of the note at a rate stated in the face of the note, which rate must not exceed by more than 2 per cent per annum the rate charged at the date of the loan for the discount of 90day commercial paper by the Federal reserve bank of the Federal reserve district in which the lending bank is located; (h) Bear the indorsement of the bank offering it for rediscount, which indorsement shall be deemed a waiver of demand, notice, and protest by such bank as to its own indorsement exclusively; (i) Be accompanied by the evidence of eligibility required by this regulationand such other evidence of eligibility as may be required by the Federal reserve bank to which it is offered for rediscount; and (j) Comply in all other respect with the requirements of the law and of this regulation. SECTION IV. EVIDENCE OF ELIGIBILITY (a) General.—The Federal reserve bank to which a note is offered for rediscount must be satisfied either by reference to the note itself or otherwise that the loan evidenced by the note or any sale, discount, or rediscount thereof complies in all respects with the provisions of section 502 of the act and that the note is eligible for rediscount by a Federal reserve bank under the terms of the law and the provisions of this regulation. (b) Affidavit of lending bank.—Any note offered to a Federal reserve bank for rediscount must be accompanied by the affidavit required by section 502 (h) of the act and the regulations of the director, in form approved by the director, made by an officer of the bank which made the loan, before a notary public or other officer designated for the purpose by regulation of the director, stating that— (1) Such bank has not charged or collected, or attempted to charge or collect, directly or indirectly, any fee or other compensation in respect of any loan, made by such bank to any veteran under section 502 of the act, except the interest authorized by such section; (2) The person who obtained the loan evidenced by such note is known to be the veteran named in the certificate securing such note; (3) Such bank has notified the director that it has made a loan to the veteran named in the certificate, as required by the regulations of the director; and (4) Such bank has notified the veteran by mail at his last known post-office address of any sale, discount, or rediscount of such note by such bank, as required by section 502 (b) of the act. (c) Affidavit of other banks.—If such note is offered for rediscount by a bank other than the bank which made the loan thereon, it must also be accompanied by an affidavit of an officer of the offering bank and an affidavit of an officer of each other bank which has sold, discounted, or rediscounted such note, which affidavit shall be in form approved by the director and shall state that the bank of which the affiant is an officer has promptly notified the veteran by mail at his last known post-office address of the sale, discount, or rediscount of such note by such bank, as required by section 502 (b) of the act. SECTION V. APPLICATION FOR REDISCOUNT Every application for the rediscount of such notes shall be made on a form approved by the Federal reserve bank to which such note is offered and shall contain a certificate of the offering bank to the effect that, to the best of its knowledge and belief, such note arose out of a loan made in full compliance with the provisions of the act and the regulations of the director and is eligible for rediscount under the provisions of section 502 of the act and of this regulation. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 491 SECTION VI. PROPER BANK FOR REDISCOUNT No such note shall be rediscounted by any Federal reserve bank for any bank not located in its own Federal reserve district, except that such notes may be rediscounted by any Federal reserve bank for any other Federal reserve bank. SECTION VII. RATE OF REDISCOUNT The rate of interest charged by any Federal reserve bank on any such note rediscounted by it shall be the same as that charged by it for the rediscount of 90-day notes drawn for a commercial purpose, except that when such notes are rediscounted for another Federal reserve bank the rate shall be that fixed by the Federal Reserve Board. SECTION VIII. REDISCOUNTS FOR NONMEMBER BANKS No Federal reserve bank shall rediscount such notes for any nonmember bank until such bank has furnished to the Federal reserve bank such information as it may request in order to satisfy itself as to the condition of such bank and the advisability of making the rediscount for it. DECEMBER 9, 1926. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHANGE IN FEDERAL RESERVE DISTRICT BOUNDARIES The following is a copy of the order of the Federal Reserve Board directing the transfer of the counties of Bernalillo and Valencia in the State of New Mexico from the eleventh Federal reserve district to the tenth Federal reserve district, effective April 15, 1926. The only member banks situated in the territory transferred are the Albuquerque National Bank and the First National Bank of Albuquerque and the First National Bank of Belen. Whereas the Federal Reserve Board is authorized and empowered under the terms of section 2 of the Federal reserve act from time to time to readjust the Federal reserve districts created by the Reserve Bank Organization Committee; and Whereas all member banks of the Federal reserve system located in the counties of Bernalillo and Valencia in the State of New Mexico have requested the Federal Reserve Board to transfer the said counties from the eleventh Federal reserve district to the tenth Federal reserve district, and the Federal reserve banks of Kansas City and Dallas have been notified of the proposed transfer and have stated that they do not object thereto; and Whereas it appears to the Federal Reserve Board that the convenience and customary course of business of the tenth and eleventh Federal reserve districts and the best interests of the Federal reserve system will be served by the transfer of the counties of Bernalillo and Valencia, in the State of New Mexico, from the eleventh Federal reserve district to the tenth Federal reserve district. Now, therefore, it is ordered: (I) That the counties of Bernalillo and Valencia, in the State of New Mexico, which are now located in the eleventh Federal reserve district, be and are hereby transferred to and included in the tenth Federal reserve district; and the boundaries of the tenth and eleventh Federal reserve districts be and are hereby readjusted accordingly. (II) That the changes and readjustments in the tenth and eleventh Federal reserve districts directed in this order shall become effective on the 15th day of April, 1926. (III) That the Federal reserve banks of Kansas City and Dallas be notified of the changes and readjustments directed in this order and directed to take such action as may be necessary for the transfer of membership of the member banks included in the territory transferred from the eleventh Federal reserve district to the tenth Federal reserve district. (IV) That a copy of this order be filed with the Comptroller of the Currency to be filed with the certificate of the Reserve Bank Organization Committee. 492 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DIRECTORY OF THE FEDERAL RESERVE BOARD [Dec. 31, 1926] EX OFFICIO MEMBERS D. R. CRISSINGER, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, ADOLPH C. MILLER. Secretary of the Treasury,Chair man. CHARLES S. HAMLIN. J. W. MCINTOSH, GEORGE R. JAMES. Comptroller of the Currency. EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. WALTER WYATT, General Counsel. J. C. NOELL, Assistant Secretary. W. M. IMLAY, Fiscal Agent. E. M. MCCLELLAND, E. A. GOLDENWEISER, Assistant Secretary. Acting Director, Division of J. F. HERSON, Research and Statistics. Chief, Division of Examination and E. L. SMEAD, Chief Federal Reserve Examiner. Chief, Division of Bank Operations. SALARIES OF OFFICERS AND EMPLOYEES OF THE FEDERAL RESERVE BOARD [Dec. 31, 1926] OFFICE OF SECRETARY Walter L. Eddy, secretary $12, 000. 00 J. C. Noell, assistant secretary 6, 000. 00 E. M. McClelland, assistant secretary 4, 500. 00 Staff: 1 at $4,800 4, 800. 00 lat$4,500___ _ 4,500.00 2 at $3,600 7, 200. 00 2 at $3,200 6,400. 00 1 at $2,900 2,900. 00 1 at $2,800 2, 800. 00 1 at $2,700 2, 700. 00 1 at $2,400 2, 400. 00 1 at $2,200 2, 200. 00 1 at $2,150 2, 150. 00 1 at $2,100 2, 100. 00 3 at $2,000 6, 000. 00 5 at $1,900 9, 500. 00 4 at $1,800 7, 200. 00 2 at $1,500 3, 000. 00 1 at $1,300 1, 300. 00 2 at $1,200 2, 400. 00 1 at $900 900. 00 1 at $600 600. 00 10 part-time employees 3, 000. 00 TotaL. 96, 550. 00 OFFICE OF GENERAL COUNSEL Walter Wyatt, general counsel 10, 000. 00 George B. Vest, assistant counsel 5, 000. 00 B. M. Wingfield, assistant counsel 3, 000. 00 Staff: 1 at $2,500 2, 500. 00 2 at $2,400 4, 800. 00 1 at $1,800 1, 800. 00 1 at $1,200 1,200. 00 Total 28, 300. 00 493 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

494 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD OFFICE OF FISCAL AGENT William M. Imlay, fiscal agent •„ $4, 800. 00 Oliver E. Foulk, deputy fiscal agent 3, 950. 00 Staff: 1 at $1,760 1, 760. 00 Total 10, 510. 00 OFFICES OF MEMBERS OF THE BOARD Staff: 2 at $3,000 6,000.00 1 at $2,800 2, 800. 00 1 at $2,700 2,700.00 3 at $2,500_._ 7, 500. 00 1 at $1,500 1, 500. 00 Total 20,500.00 DIVISION OF BANK OPERATIONS Edward L. Smead, chief of division 9, 000. 00 John R. Van Fossen, assistant chief 5, 000. 00 Staff: 1 at $4,000 4,000.00 2 at $2,700 5,400. 00 1 at $2,600 2, 600. 00 3 at $2,300 6,900.00 1 at $2,100 2, 100. 00 1 at $1,905 1, 905. 00 1 at $1,800 1,800.00 4 at $1,700 6,800. 00 3 at $1,600 4,800.00 2 at $1,500 3,000.00 2 at $1,300 2, 600. 00 2 at $1,200 2,400.00 Total 58,305.00 DIVISION OF EXAMINATION James F. Herson, chief of division and chief Federal reserve examiner. 13, 000. 00 Examiners: Frank J. Drinnen 5, 400. 00 P. A. Gordon 5,400. 00 John F. Prahl 4,800. 00 R. B. Wiltse 4, 800. 00 Assistant examiners: 2 at $4,500 9,000. 00 1 at $4,200 4, 200. 00 1 at $4,000 4,000. 00 1 at $3,900 3,900. 00 2 at $3,800 7,600.00 3 at $3,600 10,800.00 2 at $3,000 6,000. 00 1 at $2,700 2,700.00 1 at $2,400 2, 400. 00 Staff: 1 at $2,700 2,700.00 2 at $2,100 4, 200. 00 1 at $1,900 1, 900. 00 Total.. 92, 800. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOARD SALARIES 495 DIVISION OF RESEARCH AND STATISTICS E. A. Goldenweiser, acting director of division $9, 000. 00 Staff: 1 at $6,500 6, 500. 00 1 at $4,500 4, 500. 00 2 at $4,000 8, 000. 00 3 at $3,800 11,400. 00 1 at $3,600 3, 600. 00 2 at $3,000 6,000. 00 1 at $2,800 2,800.00 1 at $2,400 2,400.00 1 at $2,100 2, 100. 00 1 at $2,000 2,000. 00 1 at $1,900 1, 900. 00 5 at $1,800 9,000. 00 5 at $1,700 8, 500. 00 1 at $1,680 1, 680.00 2 at $1,560 3, 120.00 1 at $1,500 1, 500. 00 5 at $1,440 7, 200. 00 1 at $1,200 1, 200. 00 1 at $900 900. 00 Total 93, 300.00 DIVISION OF FEDERAL RESERVE ISSUE AND REDEMPTION L. G. Copeland, chief of division 4, 300. 00 W. J. Tucker, assistant chief 2, 760. 00 Staff: 1 at $2,280 2,280.00 1 at $2,040 2,040. 00 1 at $1,860 1, 860. 00 1 at $1,800 1,800. 00 1 at $1,620 1, 620. 00 1 at $1,560 1, 560. 00 13 at $1,500 19,500.00 2 at $1,440 2,880. 00 4 at $1,380 5,520.00 3 at $1,320 3,960. 00 1 at $1,200 1,200. 00 Total 51,280. 00 EMPLOYEES DETAILED Redemption Division, office of the Comptroller of the Currency: 2 at $1,020 (laborers, reimbursable) 2, 040. 00 MESSENGERS 2 at $1,500 3,000. 00 2 at $1,440 2,880.00 7 at $1,250 8, 750. 00 2 at $1,150 2,300.00 1 at $1,000 1,000.00 1 at $900 900. 00 Total 18, 830. 00 CHARWOMEN 4 at 40 cents per hour 1, 208. 40 GENERAL Claude Gilbert, supervisor of examination 10, 000. 00 H. W. Black, examiner 7, 500. 00 Total 17, 500. 00 Grand total 491, 123. 4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RECEIPTS AND DISBURSEMENTS OF THE FEDERAL RESERVE BOARD £ RECEIPTS AND DISBURSEMENTS OF THE FEDERAL RESERVE BOARD FOR THE YEAR 1926 O* Balance Jan. 1, 1926: Available for general expenses of the board. $68, 871. 99 Available for expenses chargeable to the Federal reserve banks 358, 620. 66 > IzJ Total _ J $427,492.65 g RECEIPTS > Available for general expenses of the board: Assessments on Federal reserve banks for estimated general expenses of the board $721, 724. 17 g Reimbursement of expenditures during 1925 1 519. 79 ^ Subscriptions to Federal Reserve Bulletin ______ 4, 300. 96 O Reimbursements by Treasury Department of salaries of laborers . _ 1, 530. 00 pj Miscellaneous receipts and reimbursements 452. 78 Reimbursements on account of cost of bank examinations 5, 896. 10 j^j Total receipts available for general expenses of the board 734, 423. 80 H Available for expenses chargeable to Federal reserve banks: W Assessments on Federal Reserve banks— H For cost of preparing Federal reserve notes 1, 451, 330. 80 ^ For expenses of leased wire system 225, 622. 56 ^ For miscellaneous expenses 9, 361. 43 fej. w Total receipts available for expenses chargeable to Federal reserve banks 1, 686, 314. 79 ^ Total receipts ___'" 2, 420, 738. 59 w Total available for disbursements 2, 848, 231. 24 £§ For general expenses of the board: DISBURSEMENTS 8 Expenses for 1925 paid in 1926 11, 504. 72 Expenses for 1926 (per detailed statement) $705, 507. 99 W Less accounts unpaid Dec. 31, 1926 _ , 12, 446. 04 £ — 693, 061. 95 W Salaries of laborers reimbursable by Treasury Department 2, 040. 00 D Cost of bank examinations reimbursable 3, 519. 72 Miscellaneous expenses reimbursable 108. 38 Refunds account of subscriptions to Federal Reserve Bulletin 14. 60 Total disbursements for general expenses of the board..--. ._ 710, 249. 37 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

For expenses chargeable to Federal reserve banks: Cost of preparing Federal reserve notes 1, 535, 143. 80 Expenses of leased wire system 229, 315. 15 Miscellaneous expenses 9, 545. 05 Total disbursements for expenses chargeable to Federal reserve banks 1, 774, 004. 00 Total disbursements 2,484, 253. 37 Balance Dec. 31, 1926: ^ Available for accounts unpaid, Dec. 31, 1926 12, 446. 04 Jjj Available for general expenses of the board, 1927 80, 600. 38 § Available for expenses chargeable to Federal reserve banks unpaid, Dec. 31, 1926 270, 931. 45 ui w Total balance 363,977.87 m o U w > w Si Ui t Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DETAILED STATEMENT OF EXPENSES OF THE FEDERAL RESERVEJBOARD January February March April May June July August Sep b t e e r m- October No b v e e r m- De b c e e r m- Total PERSONAL SERVICES Board members and their staff. $8, 837.48 $8,837.49 $8, 837. 53 $8, 837. 48 $8, 837.49$8, 837. 53$8, 737. 58$8,441.65 $8, 441. 70 $8,406.65 $8, 291. 65 $103, 635.93 Office of secretary 2, 724.98 2, 725. 02 2, 725.02 2, 724.98 2, 725. 00 2, 725. 02 2, 749. 98 2,900. 00 2, 900. 02 2, 899.98 3,094. 44 33, 794. 44 Office of genera] counsel 2,108.32 2,108.33 2,108.35 2,144.99 2, 208. 33 2, 208. 35 2, 208. 32 2, 303. 33 2, 318. 35 2, 358. 32 2,358.33 26, 791.67 Office of fiscal agent _ 1,050.82 1, 050.84 1,050.84 1, 050. 82 1,050.84 1, 050. 84 1, 050. 82 1, 050. 84 1, 050. 84 875. 82 875.84 12,085.00 Division of examination 7, 891. 64 7, 908. 33 7, 908. 36 7, 478. 31 7, 065. 83 6,561.14 7, 908. 31 7, 908. 33 7, 383. 36 7, 733. 31 7, 733. 34 91,213.61 Division of bank operations 4, 810. 90 4,908.76 4, 908.82 4,917.00 4, 925.43 4, 925.49 4, 818. 67 4, 858. 76 4, 958. 82 4, 858. 67 4,858. 76 58, 608.90 Division of chief rlerk 3, 008. 29 3, 008. 32 3, 008. 39 3, 008.29 3, 008. 32 3, 008.39 3, 024. 96 3,216.66 3,211.16 2, 966. 63 2, 991. 66 36,452.78 Division of gold settlement 1,493.74 1,464.50 1,513.26 1,503.49 1, 502. 75 1,512.51 1, 509.49 1,514.00 1, 473. 26 1,493. 74 1, 474. 25 17, 975. 00 Division of currency 654.16 654.17 654.17 654.16 654.17 654.17 654.16 654.17 654.17 654.16 654.17 7,850.00 Division of research and statistics 7, 427. 60 6, 869. 74 7, 035. 06 8,144. 92 7, 060. 75 7, 595. 06 8, 258. 26 8, 593. 91 8, 035. 89 7,991.59 7, 975. 02 92,921.19 Division of issue and redemption. 4, 308. 33 4, 308.33 4, 308. 34 4, 308.33 4, 308. 33 4, 308. 34 4, 303. 33 4, 238. 00 4,149. 34 4,114.33 4,104. 33 50,834.99 M essengers 1, 598. 27 1, 598. 35 1, 598. 38 1, 576. 05 1, 598.35 1, 598. 38 1,598.27 1, 598. 35 1,581.71 1,591.33 1,569.18 19,075.83 Charwomen 90.00 82.80 97.20 93.60 90.00 93.60 93.60 93.60 105. 60 124.80 120.00 1,208.40 General 1, 817. 50 500.00 500.00 449.65 94.50 232.00 16.00 923^20 867.75 855.55 9, 214.49 Total 477822:03"46, 024. 96 46, 253. 72 46, 892.1)7 45, 035.5945,173. 3247, 147.7547,387.60 47.1S7. 42 46, 937.08 46,956752 48,844.17 561, 662.~23 NONPKRSONAL SERVICES Transportation and subsistence: Board members and their staff 210. 51 107.99 447. 27 558. 87 115.35 152.70 78.20 132. 40 176.93 228.28 2, 624.91 Office of secretary 423. 23 141.98 565. 21 Office of general counsel _. 180. 37 58.01 49.51 287.89 Division of examination 3, 371. 63 4, 002. 95 4,127. 72 3,138.90 2, 830.32 6, 481. 56 5, 368. 62 1, 547. 78 4, 940. 91 4, 638. 81 5, 272.00 3, 384. 77 49,105. 97 Division of research and statistics 160.95 4.00 36.16 149.86 82.91 154.82 379.03 340. 29 47.32 187.71 51.96 343.85 1,938.86 Total all other divisions, including local car fare _ 59.80 75.84 142.74 441.07 209.13 36.59 426.38 1, 461.49 Communication service: I Telephone _ 636. 89 636.67 628.05 656.48 628.02 780.94 674.68 655.76 626.34 664.08 695.71 660.15 7,943.77 Telegraph _ 330. 36 322. 20 584. 66 350. 50 301. 08 604.93 392. 28 290. 33 598.85 321. 94 281. 93 310.81 4, 689.87 Postage 88.00 70.00 56.00 70.00 45.00 60.00 71.00 70.00 530.0C Printing, binding, etc 3, 445.03 5, 044.10 864.99 9, 224. 524, 790. 64 594. 77 3,141. 38 4, 820.80 1, 694.82 2, 862.83 3, 059. 27 2, 986.02 42, 529.17 Repairs _ 19.04 10.50 54.85 32.28 60.57 27.69 11.43 5.80 48.83 14.61 39.21 324.81 Electricity (light and power) 52.82 52.82 52.82 52.82 52.82 52.80 52. 82 52.82 52.82 52.82 52; 81 52.81 633. 80 Steam (heat) _ 42.06 42.06 42.06 42.06 21.08 46.79 46.79 46.81 329. 71 Miscellaneous, unclassified 118.66 59.12 132.54 80. 35 44.22 335.93 79.01 51.18 147. 71 127. 91 84.49 158.11 1, 419.23 Equipment rental __ 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 36.00 Supplies: Stationery and office 227. 56 277. 57 352.69 586.73 584.74 515.18 1.70 435.84 33.00 1, 372.21 340.18 36.09 4, 763.49 Periodicals __ 1,116. 27 63.00 10.50 89.00 13. 65 27.65 191.75 19.50 60.00 7.57 208.00 1, 806.89 Equipment: Furniture and office 1,172. 22 817. 30 40. 00 262.20 646. 95 452. 36 81.93 921.45 224.32 221.09 21.42 4, 861.24 Books.. _ 15.39 94.17 31.50 16.65 54.04 52.45 21.09 58.04 1.42 20.86 109.29 18.55 493.45 Rent : 1, 458.33 1, 458. 33 1,458.33 1,458.33 1, 458. 33 1, 458. 33 1, 458. 33 1, 458. 33 1, 458. 33 1, 458. 33 1,458.33 1, 458.37 17,500.00 Total 12.631.03 13, 452. 00 8,661.71 117,226. 92 112, 759. 2311, 760. 64 11,918.31 9, 878. 30 10, 898. 60 12, 293. 84 11, 982. 55 10, 382. 63 143,845. 76 Grand total.. 60,453. 06 59,476.96 54,915.43 J64,118.99 J57, 794.8256,933.96 59,066. 06 57, 265.90 58, 086. 02 59, 230. 92 58, 939. 07 59, 226.80 705, 507. 99 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SALARIES OF NATIONAL BANK EXAMINERS, AS OF DECEMBER 31, 1926 DISTRICT NO. 1—BOSTON F. D. Williams, chief examiner $10, 000 1 examiner, at $6,000; 2 examiners, at $4,200; 2 examiners, at $3,900; 3 examiners, at $3,300. Total, 8 examiners 32, 100 DISTRICT NO. 2—NEW YORK O. T. Reeves, jr., chief examiner 20, 000 3 examiners, at $6,500; 2 examiners, at $6,000; 3 examiners, at $4,200; 2 examiners, at $3,900; 1 examiner, at $3,600; 5 examiners, at $3,300; 4 examiners, at $3,000; 1 examiner, at $2,400. Total, 21 examiners-- 86, 400 DISTRICT NO. 3—PHILADELPHIA S. L. Newnham, chief examiner 14, 000 2 examiners, at $5,500; 1 examiner, at $5,000; 1 examiner, at $4,800; 2 examiners, at $4,500; 1 examiner, at $4,200; 2 examiners, at $3,600; 2 examiners, at $3,300; 2 examiners, at $3,000; 1 examiner, at $2,800; 1 examiner, at $2,400. Total, 15 examiners 59, 000 DISTRICT NO. 4—CLEVELAND T. C. Thomas, chief examiner 9,000 3 examiners, at $4,500; 1 examiner, at $4,200; 1 examiner, at $4,000; 2 examiners, at $3,900; 2 examiners, at $3,600; 1 examiner, at $3,300; 5 examiners, at $3,000. Total, 15 examiners 55, 000 DISTRICT NO. 5—RICHMOND W. P. Folger, chief examiner 8, 500 1 examiner, at $7,200; 1 examiner, at $4,800; 2 examiners, at $4,500; 1 examiner, at $4,200; 4 examiners, at $3,900; 2 examiners at $3,600; 2 examiners, at $3,000. Total, 13 examiners. 54, 000 DISTRICT NO. 6—ATLANTA E. D. Robb, chief examiner 10, 000 1 examiner, at $6,500; 2 examiners, at $4,500; 2 examiners, at $4,200; 2 examiners, at $3,900; 2 examiners, at $3,600. Total, 9 examiners-. 38, 900 DISTRICT NO. 7—CHICAGO H. M. Sims, chief examiner 15, 000 1 examiner, at $7,000; 2 examiners, at $5,100; 3 examiners, at $5,000; 2 examiners, at $4,800; 1 examiner, at $4,500; 1 examiner, at $4,200; 1 examiner, at $4,100; 1 examiner, at $4,000; 1 examiner, at $3,800; 1 examiner, at $3,600; 1 examiner, at $3,500; 2 examiners, at $3,300; 2 examiners, at $3,000; 3 examiners, at $2,700. Total, 22 examiners-_ 90, 200 DISTRICT NO. 8—ST. LOUIS J. S. Wood, chief examiner 14, 000 2 examiners, at $5,500; 2 examiners, at $4,800; 1 examiner, at $4,200; 1 examiner, at $3,900; 3 examiners, at $3,300; 1 examiner, at $3,000. Total, 10 examiners 41, 600 DISTRICT NO. 9—MINNEAPOLIS B. K. Patterson, chief examiner 11, 000 2 examiners, at $5,500; 1 examiner, at $4,500; 1 examiner, at $3,900; 3 examiners, at $3,600; 2 examiners, at $3,300; 4 examiners, at $3,000; 2 examiners, at $2,700. Total, 15 examiners 54, 200 DISTRICT NO. 10—KANSAS CITY L. K. Roberts, chief examiner 15, 000 1 examiner, at $6,000; 1 examiner, at $4,500; 2 examiners, at $4,000; 1 examiner, at $3,900; 4 examiners, at $3,600; 1 examiner, at $3,300; 6 examiners, at $3,000; 2 examiners, at $2,700. Total, 18 examiners. . 63, 500 499 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

500 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 11—DALLAS R. H. Collier, chief examiner : $12, 000 1 examiner, at $5,500; 1 examiner, at $5,100; 1 examiner, at $5,000; 2 examiners, at $4,800; 1 examiner, at $4,000; 1 examiner, at $3,900; 3 examiners, at $3,600; 2 examiners, at $3,300; 1 examiner, at $2,700; 2 examiners, at $2,500. Total, 15 examiners 58, 200 DISTRICT NO. 12—SAN FRANCISCO T. E. Harris, chief examiner 13, 000 1 examiner, at $7,000; 2 examiners, at $5,500; 1 examiner, at $5,000; 1 examiner, at $4,500; 2 examiners, at $4,300; 2 examiners, at $4,200; 1 examiner, at $3,900; 2 examiners, at $3,300; 4 examiners, at $3,000; 1 examiner, at $2,700; 1 examiner, at $2,400. Total, 18 examiners,- 72, 100 Total, 179 examiners 705, 200 RECAPITULATION Examining staff: Chief examiner, at $16,000 per annum 1 Assistant chief examiners— At $9,500 1 At $8,000 1 At $7,500 1 At $6,000 1 Office of Comptroller, at $3,900 2 Total 7 54,800 Chief examiners of districts— At $20,000 per annum 1 At $15,000 per annum 2 At $14,000 per annum 2 At $13,000 per annum 1 At $12,000 per annum 1 At $11,000 per annum 1 At $10,000 per annum 2 At $9,000 per annum 1 At $8,500 per annum 1 Total 12 151, 500 Other examiners— At $7,200 per annum 1 At $7,000 per annum 2 At $6,500 per annum 4 At $6,000 per annum 4 At $5,500 per annum 9 At $5,100 per annum 3 At $5,000 per annum 6 At $4,800 per annum 8 At $4,500 per annum . 13 At $4,300 per annum 2 At $4,200 per annum 14 At $4,100 per annum 1 At $4,000 per annum 5 At $3,900 per annum 17 At $3,800 per annum 1 At $3,600 per annum 20 At $3,500 per annum 1 At $3,300 per annum 23 At $3,000 per annum 30 At $2,800 per annum ' 1 At $2,700 per annum 9 At $2,500 per annum 2 At $2,400 per annum 3 Total 179 705, 200 Total examining staff 1198 Total salaries 911, 500 1 In addition, there are 23 national bank examiners not receiving salaries, who are acting as receivers or are unassigned. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DIRECTORY OF THE FEDERAL ADVISORY COUNCIL [Elected for the year 1927] District No. 1.—ARTHUR M. HEARD, president Amoskeag National Bank, Manchester, N. H. District No. 2.—JAMES S. ALEXANDER, chairman National Bank of Commerce, New York, N. Y. District No. 3.—LEVI L. RUE, president Philadelphia-Girard National Bank, Philadelphia, Pa. District No. 4.—HARRIS CREECH, president Cleveland Trust Co., Cleveland, Ohio. District No. 5.—JOHN F. BRUTON, president First National Bank, Wilson, N. C. District No. 6.—P. D. HOUSTON, president American National Bank, Nashville, Tenn. District No. 7.—FRANK O. WETMORE, chairman First National Bank, Chicago, 111. District No. 8.—BRECKINRIDGE JONES, chairman Mississippi Valley Trust Co., St. Louis, Mo. District No. 9.—THEODORE WOLD, vice president Northwestern National Bank, Minneapolis, Minn. District No. 10.—P. W. GOEBEL, president Liberty National Bank, Kansas City, Mo- District No. 11.—B. A. MCKINNEY, vice president American Exchange National Bank, Dallas, Tex. District No. 12.—HENRY S. MCKEE, president Barker Bros., Los Angeles, Calif. GOVERNORS AND DIRECTORS OF FEDERAL RESERVE BANKSl DISTRICT NO. 1.—FEDERAL RESERVE BANK OF BOSTON FREDERIC H. CURTISS, Chairman and Federal Reserve Agent. ALLEN HOLLIS, Deputy Chairman. W. P. O. HARDING, Governor Term Director Residence expires Dec. 31 Class A: Edward S. Kennard Rumford, Me 1927 Frederick S. Chamberlain New Britain, Conn 1928 Alfred L. Ripley Boston, Mass 1929 Class B: Chas. G. Washburn . Worcester, Mass 1927 Albert C. Bowman Springfield, Vt 1928 Philip R. Allen East Walpole, Mass 1929 Class C: Allen Hollis Concord, N. H __ 1927 Chas. H. Manchester Providence, R. I 1928 Frederic II. Curtiss Boston, Mass ._ 1929 i Includes directors elected in December, 1926, for the 3-year term beginning January 1, 1927. 38494—27 33 501 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

502 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 2.—FEDERAL RESERVE BANK OF NEW YORK GATES W. MCGARRAH, Chairman and Federal Reserve Agent. 1 OWEN D. YOUNG, Deputy Chairman. BENJAMIN STRONG, Governor Term Director Residence expires Dec. 31 Class A: Delmer Runkle Hoosick Falls, N. Y 1927 Jackson E. Reynolds _ New York, N. Y 1928 R. H. Treman Ithaca, N. Y 1929 Class B: Samuel W. Reyburn New York, N. Y 1927 Wm. H. Woodin 2. _. do 1928 Theodore F. Whitmarsh do 1929 Class C: Clarence M. Woolley do 1927 Gates W. McGarrah i . . _ _ do . _ 1928 Owen D. Young do 1929 BUFFALO BRANCH W. W. SCHNECKENBURGER, Managing Director W. W. Schneckenburger. Buffalo, N. Y. 1927 Arthur Hough Batavia, N. Y_ 1927 Elliott C. McDougal Buffalo, N. Y__ 1927 John A. Kloepfer do.. 1928 Frank W. Crandall Westfield, N. Y_. 1928 F. B. Cooley Buffalo, N. Y___. 1929 Harry T. Ramsdell ....do 1929 DISTRICT NO. 3.—FEDERAL RESERVE BANK OF PHILADELPHIA RICHARD L. AUSTIN, Chairman and Federal Reserve Agent. CHAS. C. HARRISON, Deputy Chairman. GEO. W. NORRIS, Governor Class A: Francis Douglas. _ Wilkes-Barre, Pa.. _ _. 1927 John C. Cosgrove Johnstown, Pa 1928 Jos. Wayne, jr Philadelphia, Pa 1929 Class B: Chas. K. Haddon do 1927 Alba B Johnson do 1928 Arthur W Sewall do 1929 Class C: do 1927 H. L. Cannon Bridgeville, Del ._ 1928 R. L. Austin .. _ Philadelphia, Pa 1929 DISTRICT NO. 4.—FEDERAL RESERVE BANK OF CLEVELAND GEORGE DECAMP, Chairman and Federal Reserve Agent. LEWIS BLAIR WILLIAMS, Deputy Chairman. E. R. FANCHER, Governor Class A: i 0. N. Sams i Hillsboro, Ohio 1927 Chess Lamberton ! Franklin, Pa 1928 Robert Wardrop | Pittsburgh, Pa 1929 Class B: John Stambaugh I Youngstown, Ohio. 1927 R. P. Wright. Erie, Pa. 1928 Geo. D. Crabbs Cincinnati, Ohio 1929 Class C: W. W. Knight , Toledo, Ohio 1927 L. B. Williams Cleveland, Ohio. 1928 George DeCamp do 1929 CINCINNATI BRANCH C. F. MCCOMRS, Managing Director C. F. McCombs ... Cincinnati, Ohio 1927 Geo M Verity Middletown, Ohio 1927 B H Kroger Cincinnati Ohio 1927 Fred A Geier do 1928 E. S. Lee Covington, Kv ._ 1928 John Omwake Cincinnati, Ohio 1929 Charles W. DuPuis do 1929 Digitized for FRASER ' Effective May 1, 1927. 2 Effective Apr. 1, 1927. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

503 GOVEBNOES AND DIBECTOBS DISTRICT NO. 4.—FEDERAL RESERVE BANK OF CLEVELAND—Continued PITTSBURGH BRANCH J. C. NEVIN, Managing Director Term Director Residence expires Dec. 31 J. C. Nevin Pittsburgh, Pa — 1927 Joseph R. Naylor Wheeling, W. Va__ 1927 R. B Mellon Pittsburgh, Pa.. - 1927 Chas. W. Brown do. ._ 1928 A E Braun do - 1928 A. L. Humphrey _. _ _ do. 1929 Jos R Eisaman Greensburg, Pa.. - 1929 DISTRICT NO. 5.—FEDERAL RESERVE BANK OF RICHMOND WILLIAM W. HOXTON, Chairman and Federal Reserve Agent. FREDERIC A. DELANO, Deputy Chairman. GEORGE J. SEAY, Governor Class A: Chas. E Rieman .. .. Baltimore, Md _ 1927 Jas C Bras well Rocky Mount, N. C 1928; L. E. Johnson _ _ _ Alderson, W. Va -- 1929* Class B: Edmund Strudwick ._ _ Richmond, Va 1927 Edwin C Graham Washington, D C 1928 D. R. Coker Hartsville, S. C _ 1929 Class C: Frederic A. Delano Washington, D. C 1927 Robert Lassiter Charlotte, N C 1928 Wm. W. Hoxton Richmond, Va 1929 BALTIMORE BRANCH ALBERT H. DUDLEY, Managing Director Albert H. Dudley.. Baltimore, Md. 1927 John G. Rouse ..do. 1927 Henry B. Wilcox... ..do. 1927 Wm. H. Matthai__ ..do. 1928 Levi B. Phillips.... Cambridge, Md.. 1928 Edmund P. Cohill. Hancock, Md 1929 Carter G. Osburn.. Baltimore, Md... 1929 DISTRICT NO. 6.—FEDERAL RESERVE BANK OF ATLANTA OSCAR NEWTON, Chairman and Federal Reserve Agent. W. H. KETTIG, Deputy Chairman. M. B. WELLBORN, Governor Class A: Eugene R. Black Atlanta, Ga 1927 E. C. Melvin Selma, Ala. 1928 G. G. Ware _ Leesburg, Fla 1929 Class B: J. A. McCrary _ Decatur, Ga _. 1927 W. H. Hartford Nashville, Tenn.. 1928 Leon C. Simon New Orleans, La.. 1929 Class C: Lindsey Hopkins Atlanta, Ga 1927 W. H. Kettig Birmingham, Ala. 1928 Oscar Newton _ Atlanta, Ga 1929 NEW ORLEANS BRANCH MARCUS WALKER, Managing Director Marcus Walker New Orleans, La 1927 Albert P. Bush Mobile, Ala 1927 R. S. Hecht New Orleans, La ... 1927 P. H. Saunders do 1928 J. P. Butler, jr _ _ do 1928 L. C. Simon do 1929 F. W. Foote Hattiesburg, Miss 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

504 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 6.—FEDERAL RESERVE BANK OF ATLANTA-Continued BIRMINGHAM BRANCH A, E. WALKER, Managing Director Term Director Residence expires Dec. 31 A.E.Walker . Birmingham, Ala _ 1927 John P. Kohn Montgomery, Ala 1927 Walter E. Henley... Birmingham, Ala 1927 W. H. Kettig do.. . 1928 John H. Frye... do 1928 Oscar Wells. do 1929 W. W. Crawford . do 1929 JACKSONVILLE BRANCH GEORGE R. DESAUSSURE, Managing Director George R. DeSaussure. Jacksonville, Fla. 1927 L. C. Edwards... Tampa, Fla 1927 C. P. Kendall Jacksonville, Fla. 1927 J. C. Cooper .do_. 1928 G. G. Ware Leesburg, Fla 1928 Fulton Saussy ... Jacksonville, Fla. 1929 .Edward W. Lane .....do 1929 NASHVILLE BRANCH JOEL B. FORT, Jr., Managing Director Joel B. Fort, jr.. Nashville, Tenn.. 1927 Wm. P. Ridley.. Columbia, Tenn . 1927 J. E. Caldwell... Nashville, Tenn.. 1927 W. H. Hartford. .do.. 1928 T. A. Embrey... Winchester, Tenn.. 1928 P. M. Davis Nashville, Tenn... 1929 E. A. Lindsey... do 1929 SAVANNAH AGENCY J. H. BOWDEN, Manager HAVANA AGENCY L. L. MAGRUDER, Manager DISTRICT NO. 7.—FEDERAL RESERVE BANK OF CHICAGO WILLIAM A. HEATH, Chairman and Federal Reserve Agent. JAMES SIMPSON, Deputy Chairman. JAMES B. MCDOUGAL, Governor Class A: George M. Reynolds Chicago, 111 1927 Charles H McNider Mason City, Iowa .. 1928 E L Johnson Waterloo, Iowa ... _. 1929 Class B: A. II. Vogel Milwaukee, Wis 1927 S T Crapo Detroit, Mich 1928 Robert Mueller Decatur, 111 1929 Class C: W A Heath Chicago, 111.. 1927 F. C. Ball _. Muncie, Ind 1928 James Simpson Chicago, 111 1929 DETROIT BRANCH WM. R. CATION, Managing Director William R. Cation Detroit, Mich.. 1927 David McMorran _ _.. Port Huron, Mich. 1927 George B. Morley Saginaw, Mich 1927 James Inglis _ Detroit, Mich 1928 William J. Gray _ do 1928 N. P. Hull Lansing, Mich 1929 John W. Staley Detroit, Mich 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOVERNORS AND DIRECTORS 505 DISTRICT NO. 8.—FEDERAL RESERVE BANK OF ST. LOUIS WM. MCC. MARTIN, Chairman and Federal Reserve Agent. JOHN W. BOEHNE, Deputy Chairman. DAVID C. BIGGS, Governor Term Director Residence expires Dec|31 Class A: J. C. Utterback Paducah, Ky 1927 John C. Martin Salem, 111 1928 John G. Lonsdale St. Louis, Mo 1929 Class B: Rolla Wells do 1927 W. B. Plunkett Little Rock, Ark 1928 LeRoy Percy Greenville, Miss 1929 Class C: Wm McC. Martin St. Louis, Mo 1927 Paul Dillard •_ Memphis, Tenn ___ 1928 John W Boehne Evansville, Ind 1929 LOUISVILLE BRANCH W. P. KINCHELOE, Managing Director W. P. Kincheloe Louisville, Ky 1927 E. H. Woods Lucas, Ky 1927 Max B. Nahm Bowling Green, Ky 1927 E. L. Swearingen _ _ _. Louisville, Ky 1928 Attilla Cox do 1928 Wm. Black do -.. 1929 Eugene E. Hoge ._ _ __ _ _ - _- _ Frankfort, Kv . 1929 MEMPHIS BRANCH W. H. GLASGOW, Managing Director W. H. Glasgow Memphis, Tenn.. 1927 E. M. Allen Helena, Ark.. 1927 R. Brinkley Snowden.. Memphis, Tenn.. 1927 T. K. Riddick do 1928 J. W. Vanden Jackson, Tenn 1928 William Orgill Memphis, Tenn.. 1929 Jno. D. McDowell do 1929 LITTLE ROCK BRANCH A. F. BAILEY, Managing Director A. F. Bailey Little Rock, Ark.. 1927 Hamp Williams.... Hot Springs, Ark. 1927 John M. Davis Little Rock, Ark.. 1927 Moor head Wright.. do 1928 W. A. Hicks do 1928 G. H. Campbell.... do I.. 1929 Stuart Wilson Texarkana, Ark. 1929 DISTRICT NO. 9.—FEDERAL RESERVE BANK OF MINNEAPOLIS JOHN R. MITCHELL, Chairman and Federal Reserve Agent. HOMER P. CLARK, Deputy Chairman. R. A. YOUNG, Governor Class A: Wesley C. McDowell. Marion, N. Dak 1927 Paul J. Leeman Minneapolis, Minn. 1928 J. C. Bassett Aberdeen, S. Dak... 1929 Class B: John S. Owen .. Eau Claire, Wis_. 1927 Paul N. Myers St. Paul, Minn... 1928 N. B. Holter Helena, Mont 1929 Class C: Homer P. Clark St. Paul, Minn 1927 Geo. W. McCormick.. Menominee, Mich.. 1928 John R, Mitchell Minneapolis, Minn. 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

508 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 9.-FEDERAL RESERVE BANK OF MINNEAPOLIS—Continued HELENA BRANCH R. E. TOWLE, Managing Director Term Director Resdence expires Dec. 31 R. E. Towle Helena, Mont 1927 Henry Sieben. do — 1927 T. A Marlow do 1927 C. J. Kelly Butte, Mont 1928 R 0 Kaufman Helena, Mont 1928 DISTRICT NO. 10.—FEDERAL RESERVE BANK OF KANSAS CITY M. L. MCCLTTRE, Chairman and Federal Reserve Agent. HEBER HORD, Deputy Chairman. W. J. BAILEY, Governor Class A: C. C. Parks Denver, Colo... 1927 Frank W. Sponable.. Paola, Kans 1928 E. E. Mullaney Hill City, Kans. 1929 Class B: Thomas C. Byrne Omaha, Nebr 1927 J. M. Bernardin Kansas City, Mo.. 1928 L. E. Phillips Bartlesville, Okla. 1929 Class C: Heber Hord Central City, Nebr. 1927 William L. Petrikin.. Denver, Colo 1928 M. L. McClure Kansas City, Mo 1929 DENVER BRANCH J. E. OLSON, Managing Director J. E. Olson Denver, Colo. 1927 Merritt W. Gano... . — .do. 1927 Harold Kountze do J927 Murdo MacKenzie. do 1928 Harry W. Farr Greeley, Colo. 1928 R. H. Davis Denver, Colo. 1929 Henry Swan .... -do 1929 OMAHA BRANCn L. H. EARHART, Managing Director L. H. Earhart Omaha, Nebr. 1927 A. J. Weaver Falls City, Nebr 1927 R. O. Marnell Nebraska City, Nebr 1927 William Diesing.. Omaha, Nebr 1928 A. H. Marble Cheyenne, Wyo _ 1928 William E. Hardy Lincoln, Nebr 1929 T. L. Davis Omaha, Nebr 1929 OKLAHOMA CITY BRANCH C. E. DANIEL, Managing Director C. E. Daniel. I Oklahoma City, Okla.. 1927 EE . JJ. MMurphy..h C l it ClOinktlon, Okla.. 1927 William Mee.. Oklahoma City, Okla.. 1927 W. F. Nichols.... Tulsa, Okla.... 1928 Ned Holman Guthrie, Okla 1928 Austin Miller Oklahoma City, Okla. 1929 Walter Ferguson. do 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOVERNORS AND DIRECTORS 507 DISTRICT NO. 11.—FEDERAL RESERVE BANK OF DALLAS C. C. WALSH, Chairman and Federal Reserve Agent. CLARENCE E. LINZ, Deputy Chairman. LYNN P, TALLEY, Governor Term Director Residence expires Dec. 31 Class A: J. H. Frost San Antonio, Tex 1927 W. H. Patrick _ Clarendon, Tex. _ 1928 Howell E Smith McKinney, Tex _ 1929 Class B.- Frank Kell Wichita Falls, Tex _ _ 1927 J. H. Nail Fort Worth, Tex 1928 J. J. Culbertson Paris, Tex 1929 Class C: S B Perkins Dallas, Tex 1927 C. C. Walsh do 1928 Clarence E Linz do , 1929 EL PASO BRANCH M. CRUMP, Managing Director M Crump El Paso, Tex. __ 1927 H. L. Kokernot.._ _._ Alpine, Tex _ _ 1927 George D. Flory El Paso, Tex _ 1927 C. M. Newman _ _ . . do . 1928 E M Hurd do 1928 A. P. Coles do _ _ _ 1929 E. A. Cahoon Roswell, N. Mex 1929 HOUSTON BRANCH D. P. REORDAN, Managing Director D. P. Reordan _._ Houston, Tex _ 1927 E A Peden do 1927 Fred W. Catterall Galveston, Tex_. . __ 1927 R M Farrar Houston, Tex 1928 Guy M. Bryan _ do _ 1928 J. Cooke Wilson Beaumont, Tex . . _ 1929 E. F. Gossett Houston, Tex 1929 DISTRICT NO. 12.—FEDERAL RESERVE BANK OF SAN FRANCISCO ISAAC B. NEWTON, Chairman and Federal Reserve Agent. WALTON N. MOORE, Deputy Chairman. J. U. CALKINS, Governor Class A: Howard Whipple _ Turlock, Calif 1927 C. K. Mclntosh _ San Francisco, Calif _ __ . . . 1928 T. H. Ramsay Red Bluff, Calif 1929 Class B: William T. Sesnon Soquel, Calif _.. . 1927 E. H. Cox. _ _ Madera, Calif___ 1928 A. B. C. Dohrmann San Francisco, Calif 1929 Class C: Walton N. Moore do 1927 William Sproule do _ .. 1928 Isaac B. Newton do 1929 PORTLAND BRANCH R. B. WEST, Managing Director R. B. West Portland, Oreg.... 1927 A. C. Dixon Eugene, Oreg 1927 William P oilman. Baker, Oreg 1927 Edward C. Pease. The Dallas, Oreg.. 1928 John F. Daly Portland, Oreg 1928 Nathan Strauss... do 1929 J. C. Ainsworth... .....do 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

508 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 12.—FEDERAL RESERVE BANK OF SAN FRANCISCO—Continued SEATTLE BRANCH C. R. SHAW, Managing Director Term Director Residence expires Dec. 31 C R Shaw Seattle, Wash 1927 E. W. Purdy Bellingham, Wash 1927 Henry A. Rhodes Tacoma, Wash 1928 M. F. Backus. Seattle, Wash 1828 Charles H. Clarke do 1929 M. A Arnold do 1929 SPOKANE BRANCH D. L. DAVIS, Managing Director D. L. Davis Spokane, Wash 1927 E. H. Van Ostrand Coeur d'Alene, Idaho ._ 1927 Charles L. MacKenzie Colfax, Wash 1927 William Duling Garfield, Wash 1928 R. L. Rutter Spokane, Wash ... 1928 G. I. Toevs. do 1929 C. E. McBroom do 1929 SALT LAKE CITY BRANCH W. L. PARTNER, Managing Director W. L. Partner Salt Lake City, Utah. 1927 Chapin A. Day Ogden, Utah. 1927 J. S. Bussell Pocatello, Idaho 1927 F. J. Hagenbarth... Spencer, Idaho 1928 L. H. Farnsworth... Salt Lake City, Utah. 1928 Lafayette Hanchett. do 1929 Charles H. Barton.. Ogden, Utah 1929 LOS ANGELES BRANCH R. B. MOTHERWELL, Managing Director R. B. Motherwell Los Angeles, Calif. 1927 E. M. Lyon Redlands, Calif. 1927 F. J. Belcher, jr San Diego, Calif 1927 J. B. Alexander Los Angeles, Calif. 1928 Henry M. Robinson. do 1928 W. L. Valentine Fullerton, Calif 1929 J. F. Sartori Los Angeles, Calif. 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SALARIES OF OFFICERS AND EMPLOYEES OF FEDERAL RESERVE BANKS [Dec. 31, 1926 and 1925] lExclusive of temporary employees] ALL FEDERAL RESERVE BANKS AND BRANCHES COMBINED Number Annual salaries Officers and employees 1926 1925 1926 1925 Officers: Chairman and Federal reserve agent 12 111 $266,000 i $204, 000 Governor _ 12 12 339, 000 310,000 Other officers _ _ 242.12 256. 62 1, 814, 370 1, 807, 820 Employees, by departments: Banking department .__ 8, 758. 58 ! 8, 754. 56 12, 377, 975 212, 267, 545 Federal reserve agent's department 279. 88 2 280. 88 638, 405 2 644,284 Auditing department 193 217 417,114 464,304 Fiscal agency department. _ _ _ 256.5 301. 83 472, 625 538,012 Total 9, 754. 08 2 9, 833. 89 16, 325, 489 216, 235, 965 Fiscal agency department officers and employees whose salaries are reimbursed by the Treasury Department: Officers .88 1.38 3,500 5,500 Employ ees_ 52.88 57.07 96,190 101. 892 Other employees whose salaries are reimbursed to bank 269.16 2 233. 66 282, 429 2 234,870 Grand total 10, 077 10,126 16, 707, 608 16, 578, 227 FEDERAL RESERVE BANK OF BOSTON (INCLUDING HABANA AGENCY) Officers: Chairman and Federal reserve agent _ _ $20, 000 $18,000 Governor _ 25,000 25,000 Other officers 71, 500 68,500 Employees, by departments: Banking department __ _ 627.5 617 853, 940 836, 555 Federal reserve agent's department 29 30 67, 070 68, 040 A udi ting department _ _ 10 20, 880 23, 640 Fiscal agency department 27 36, 960 50,700 Total _ .-.. 693.5 1, 095, 350 1,090, 435 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department #_ _ 4 6,600 6,360 Other employees whose salaries are reimbursed to bank 11.5 9,242 9,165 Grand total 709 708 1, 111, 192 1,105, 960 FEDERAL RESERVE BANK OF NEW YORK (INCLUDING BUFFALO BRANCH) Officers: Chairman and Federal reserve agent 1 $40, 000 $30, 000 Governor 1 50, 000 50,000 Other officers 32 378, 400 376, 600 Employees, by departments: Banking department 2,166 2,183 3, 225, 733 3,153, 699 Federal "reserve <a gent's department 58 56 132, 810 127, 950 Auditing department ___ 43 49 99, 880 113,420 Fiscal agency department 66 124,050 128, 680 Total 2,359 5,388 4, 050, 873 3, 980, 349 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department 12, 560 12, 070 Other employees whose salaries are reimbursed to bank 87, 771 53, 500 Grand total 2,446 2,447 4,151, 204 4, 045, 919 i Vacancy at Federal Reserve Bank of Cleveland. 2 Revised. 38494—27 34 509 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

510 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANK OF PHILADELPHIA Number Annual salaries Officers and employees 1926 1925 1926 1925 Officers: Chairman and Federal reserve agent 1 1 $20, 000 $15, 000 Governor 1 1 25, 000 25, 000 Other officers . _ . 10 9 86,500 78,000 Employees, by departments* Banking department _ ._ 663 635 886, 530 849, 480 Federal reserve agent's department .. _. _ _ _ . 30 33 64, 232 69, 576 Auditing department ._ _. ._ . . 25 25 52, 534 52, 310 Fiscal agency department 14 19 21, 010 28, 580 Total 744 723 1, ] 55, 806 1,117,946 Fiscal agency department employees whose salaries are reimbursed bv the Treasury Department 4 4 8,760 8,480 Other employees whose salaries are reimbursed to bank 10 9 8,940 7,980 Grand total 758 736 1,173, 506 1,134,40G FEDERAL RESERVE BANK OF CLEVELAND (INCLUDING CINCINNATI AND PITTSBURGH BRANCHES) Officers: Chairman and Federal reserve agent _. 1 0) $18, 000 (3) Governor 1 1 30, 000 $30,000 Other officers 24 25 173,400 179,800 Employees, by departments: Banking department. 828 815 1,181,099 1,157,984 Federal reserve agent's department 26 27 61, 382 65, 546 Auditing department 20 24 49, 380 58, 744 Fiscal agency department _ 17 22 30, 825 37,037 Total 917 914 1, 544, 086 1, 529, 111 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department 8 5 16,468 13,420 Other employees whose salaries are reimbursed to bank... 29 22 35, 732 28,428 Grand total 941 I 1,596.2 1, 570, 959 FEDERAL RESERVE BANK OF RICHMOND (INCLUDING BALTIMORE BRANCH) Officers. Chairman and Federal reserve agent. ._ 1 $20,000 $15,000 Governor-_ _ 1 25,000 20,000 Other officers 16 121,800 114,100 Employees by departments: Banking department 513 631, 750 645,632 Federal reserve agent's department 9 22,290 17,850 Auditing department __ 14,820 16,860 Fiscal agency department • 14,970 19, 500 Total 527 563 850, 630 848, 942 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department.__ 6 9,900 8,310 Other employees wrhose salaries are reimbursed to bank 7 4, 206 5,400 Grand total. 541 576 864,736 862, 652 FEDERAL RESERVE BANK OF ATLANTA (INCLUDING BIRMINGHAM, JACKSONVILLE, NASHVILLE, AND NEW ORLEANS BRANCHES, AND HABANA AND SAVANNAH AGENCIES) Officers: Chairman and Federal reserve agent _ 1 1 $20,000 $15,000 Governor. _ __ __ 1 1 25,000 20,000 Other officers. _ _ 25 26 130, 780 127, 540 Employees, by departments: Banking department 371. 29 364. 79 439,924 415,237 Federal reserve agent's department 8.88 21, 670 21, 370 Auditing department 10 20,440 19,940 Fiscal agency department 6.83 9,830 11, 735 Total 418. 50 667, 644 630, 822 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department. 3.83 4.50 5,160 5,220 Other employees whose salaries are reimbursed to bank.. 5 4 5,640 4,620 Grand total 430 427 678, 444 640,662 1 Vacant. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

511 FEDERAL RBSEEVE BANK SALARIES FEDERAL RESERVE BANK OF CHICAGO (INCLUDING DETROIT BRANCH) Number Annual salaries Officers and employees 1926 1925 1926 Officers: Chairman and Federal reserve agent 1 1 $24,000 $24,000 Governor-_ 1 1 35,000 35,000 Other officers... _ 31 32 240, 850 243,600 Employees by departments: Banking department 1,304 1,224 1,859, 605 1, 764,865 Federal reserve agent's department 42 42 94,400 94,840 Auditing department-- 20 24 42, 560 53,080 Fiscal agency department _ 46 51 86,880 94, 720 Total- - 1,445 1,375 2, 383, 295 2, 310,105 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department- (0 0) 0) 0) Other employees whose salaries are reimbursed to bank 26 33 30,240 34,420 Grand total _ 1.471 1, 408 2,413, 535 2, 344, 525 FEDERAL RESERVE BANK OF ST. LOUIS (INCLUDING LOUISVILLE, MEMPHIS, AND LITTLE ROCK BRANCHES) Officers: I | | Chairman and Federal reserve agent | 1 1 $20,000 $18,000 Governor _ _ __j l 1 25,000 20,000 Other officers _.| 21 | 25 126,900 133,870 Employees, by departments: j Banking department 477 492 | 617,248 643,316 Federal reserve agent's department 14; 10 i 38,400 ! 27,200 Auditing department _ 10! 12 16,140 ! 18,620 Fiscal agency department _ 20 : 27 I 34,160 45,120 Total.. 544 877,848 ! 906,126 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department 10,240 ! 11,320 Other employees whose salaries are reimbursed to bank 7,500 | 7,080 Grand total. 558 583 895,588 j 924, 526 FEDERAL RESERVE BANK OF MINNEAPOLIS (INCLUDING HELENA BRANCH) Officers: I Chairman and Federal reserve agent _ 1 $20,000 $15,000 Governor. 1 25,000 20,000 Other officers _ _ 14.12 15.62 \ 88, 500 89,400 Employees, by departments: Banking department 287. 79 2 322.77 | 391,395 2 420, 781 Federal reserve agent's department 11 21, 200 2 20,480 Auditing department 9 17, 600 18, 820 Fiscal agency department 10 14, 200 12, 640 Total.. „ _ .__ 333. 91 2 370. 39 i 577, 895 2 597,121 Fiscal agency department officers and employees whose sal- j aries are reimbursed by the Treasury Department: Officers _.' _ .88 1.38 | 3.500 5,500 Employees 5.55 6.57 I 8A52 10,092 Other employees whose salaries are reimbursed to bank.. 5.66 2 5. 66 ! 5,223 2 5,083 Grand total. 346 384 595,070 617,796 FEDERAL RESERVE BANK OF KANSAS CITY (INCLUDING DENVER, OKLAHOMA CITY, AND OMAHA BRANCHES) Officers: Chairman and Federal reserve agent 1 1 $20, 000 $15, 000 Governor 1 1 25,000 20,000 Other officers ! 19 20 111,380 114,980 Employees, by departments: Banking department... _ 455 M63 680,176 2 686,074 Federal reserve agent's department 12 13 25, 471 29.852 Auditing department 18 20 35, 380 39,420 Fiscal agency department 20 21 36, 620 37,320 Total 526 *539 934,027 2 942, 646 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department 1 3 7 5,570 12, 670 Other employees whose salaries are reimbursed to bank 2 47 53,140 2 46, 566 Grand total 580 593 992, 737 1, 001, 882 i Reimbursement received on an hourly basis, in an amount approximately equivalent to the time of 5 Digitized foerm FpRloAySeeEs Rw ith an average salary of $1,000. 2 Revised. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

512 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANK OF DALLAS (INCLUDING EL PASO AND HOUSTON BRANCHES) Number Annual salaries Officers and employees 1926 1925 1926 1925 Officers: Chairman and Federal reserve agent 1 1 $20,000 $15,000 Governor 1 1 24,000 20,000 Other officers __ 16 17 93,460 92,050 Employees, by departments: Banking department 345 1354 490,190 i 505,190 Federal reserve agent's department.. _ 16 16 37,280 37, 820 Auditing department _ 15 15 30, 640 30, 610 Fiscal agency department 13.5 16 26, 220 28.360 Total 407.5 1420 721, 790 1 729,030 Fiscal agency department employees whose salaries are reimbursed by the Treasury Department 4.5 8,400 9,270 Other employees whose salaries are reimbursed to bank 11 9,180 i 10,860 Grand total 423 I 439 739.370 749.160 FEDERAL RESERVE BANK OF SAN FRANCISCO (INCLUDING LOS ANGELES, PORTLAND, SALT LAKE CITY, SEATTLE, AND SPOKANE BRANCHES) Officers: Chairman and Federal reserve agent... 1 1 $24, 000 $24,000 Governor _ 1 1 25, 000 25,000 Other officers 30 31 190, 900 189, 380 Employees, by departments: Banking department 751 1771 1,120,385 i 1,188, 732 Federal reserve agent's department 24 25 52, 200 63, 760 Auditing department 8 9 16, 860 18,840 Fiscal agency department 21 23 36, 900 43,620 Total 836 1861 1.466,245 i 1, 553,332 Fiscal agency department employees whose sallaarriieess aarree reimbursed by the Treasury Department 2 3 4,080 4,680 Other employees whose salaries are reimbursed to bbaannkk 23 120 25,615 1 21, 768 Grand total 861 884 1,495, 940 1, 579, 780 1 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK AND TRUST COMPANY MEMBERS The following is a list of 1,354 State bank and trust company active members of the Federal Reserve System on December 31, 1926, with their loans, investments, deposits, capital, and surplus. [ID thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 1 CONNECTICUT Hartford—Phoenix State Bank & Trust Co 20, 583 1,213 26,019 1,600 1,600 New Britain—New Britain Trust Co 3,759 1,399 5,100 600 400 South Manchester—Manchester Trust Co 1,918 94 1,723 200 100 • Waterbury—Colonial Trust Co 5,440 2,962 7,452 500 1, 000> MAINE Bangor—Merrill Trust Co 8,856 2,913 11,837 500 400 Ellsworth—Union Trust Co 1,652 1,302 2,964 100 100 Portland—Fidelity Trust Co 10, 244 7,516 17, 882 400 400 Sanford—Sanford Trust Co 1,389 731 1,979 100 50 MASSACHUSETTS Arlington—Menotomy Trust Co__ 3,396 453 3,809 200 200 Boston- American Trust Co 24, 685 2,828 27, 391 1,500 2,000 Bank of Commerce & Trust Co 5,969 655 5,756 750 225 Beacon Trust Co _ 25, 386 504 25, 620 1,500 2,000 Exchange Trust Co 14,154 3,902 17, 623 1,000 1,000 Liberty Trust Co.... 10, 703 1,579 11, 749 750 750 New England Trust Co 17,214 2,974 22,314 1,000 2,000 Old Colony Trust Co 139,188 24, 265 169, 992 12, 000 10, 000 State Street Trust Co 55, 757 3,950 64, 432 3,000 3,500 United States Trust Co 10, 041 6,864 16, 913 1,000 1,000 Cambridge- Harvard Trust Co 12, 798 3,778 16, 873 500 650 Inman Trust Co 2,785 616 3,304 200 100 Fall River—B. M. C. Durfee Trust Co 5,764 1,988 5,135 800 400 Fitchburg—Fitchburg Bank & Trust Co 2,961 1,295 4,260 500 300 Gloucester—Gloucester Safe Deposit & Trust Co 4,297 830 5,214 200 200 Greenfield—Franklin County Trust Co. 3,336 705 3,754 200 100 Holyoke—Handley Falls Trust Co 7,918 1,939 10, 838 500 250 Lawrence—Merchants Trust Co 5,800 1,736 8,628 300 150 Lynn—Security Trust Co 6,793 1,238 8,031 200 300 Newton—Newton Trust Co 10, 561 4,748 14,312 600 600 Norwood—Norwood Trust Co 2,723 2,109 4,941 200 150 Quincy—Quincy Trust Co_ 3,910 1,140 5,151 200 100 Salem—Naumkeag Trust Co 3,797 1,845 6,082 250 250 Waltham—Waltham Trust Co 5,698 1,732 6,948 300 300 Winchester—Winchester Trust Co 966 1,044 1,960 100 75 Worcester—Worcester Bank & Trust Co 22, 772 10,105 33. 032 1,500 1,500 NEW HAMPSHIRE Conway—Carroll County Trust Co 746 348 1,098 20 RHODE ISLAND Providence— Columbus Exchange Bank 1,705 940 2,636 200 80 Industrial Trust Co 76, 966 62,024 138, 793 4,000 6,000 Rhode Island Hospital Trust Co 55, 965 43,200 97, 323 3,000 5,000 Union Trust Co 13, 976 6,763 22, 301 1,000 500. 513 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

514 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Investments Capital Surplus DISTRICT NO. 2 NEW JERSEY (See also District No. 3) Asbury Park—Seacoast Trust Co 4,508 1,317 4,875 350 450 Bayonne—Bayonne Trust Co | 6,727 1,587 8,407 300 400 Bloomfield— ! Bloomfleld Trust Co I 3,148 3,496 6,458 300 300 Community Trust Co.. ! 303 375 653 100 50 Watsessing Bank ! 1,412 1,411 2,755 100 100 Bogota—Bank of Bogota 818 517 1,379 75 75 Boonton—Boonton Trust Co 1,364 325 1,550 100 50 Carteret—Carteret Trust Co 652 70 704 100 25 Cranford—Cranford Trust Co 2,342 684 2, 792 200 200 East Orange- East Orange Bank i 2,668 1,303 5,010 250 150 East Orange Trust Co 573 8 461 200 50 Savings Investment & Trust Co 13,132 2,704 16, 790 750 600 Elizabeth- Central Home Trust Co 3,225 466 3,591 500 200 Elizabethport Banking Co \ 4,467 2,056 6,363 250 350 Fort Lee—Fort Lee Trust Co I 421 282 j 686 100 40 Franklin—Sussex County Trust Co I 960 1,478 2,379 100 100 Olen Ridge—Glen Ridge Trust Co I 1.206 1,058 ; 2,390 100 50 Hackensack—Peoples Trust & Guaranty Co 10,999 2,255 11, 542 1,000 500 Hasbrouck Heights—Bank of Hasbrouck Heights 329 503 ! 804 50 50 Hoboken—Jefferson Trust Co. I 6,328 1,140 7,418 400 100 Jersey City— | Claremont Bank of Jersey City 6,089 3,504 ; 10, 328 200 300 Commercial Trust Co. of New Jersey.. 33, 979 16,845 I 55, 780 2,000 1,500 New Jersey Title Guarantee & Trust Co ! 22,476 4,814 i 26, 609 1,300 1,000 Linden—Linden Trust Co. 356 250 479 200 50 Montclair— Bank of Montclair 4,401 2,069 6,409 400 150 Montclair Trust Co 10,127 2,317 11, 958 1,000 750 Morristown—Morristown Trust Co 5,804 5,245 10,847 800 500 Newark- City Trust Co 3,865 2,138 5,705 300 300 Clinton Trust Co 6,466 2,099 7,755 500 350 Federal Trust Co 20, 605 6,741 24,899 3,500 2,500 Fidelity Union Trust Co 48, 988 40, 942 91,877 5,250 3,750 Guardian Trust Co. of New Jersey, 13, 358 4,067 11, 342 5,000 2,500 Ironbound Trust Co 7,045 8,357 15, 773 500 500 Mutual Bank of Roseville 2,053 969 2,981 200 160 Springfield Avenue Trust Co 5,064 2,889 8,236 200 100 Nutley—Bank of Nutley 2,275 446 2,739 200 125 Palisades Park—Morse mere Trust Co_. 295 71 223 100 23 Passaic—Peoples Bank & Trust Co 6,240 2,961 8,902 600 800 Paterson—Hamilton Trust Co 7,823 2,742 12, 305 600 500 Pert P R h e a A r r t i m h t a b A n o m y T — b ru o s y t T C r o ust Co 5 1 , ,5 8 6 4 6 6 1,9 2 3 0 1 2 8 2 , , 8 2 6 16 6 3 1 0 0 0 0 5 5 0 0 0 Plain M P f l i a i e d i l n d - f — C ie i l t d y T T r r u u s s t t C C o o (June 30,1926).. 15, 6 6 7 9 3 5 3,6 1 0 7 6 4 19, 6 8 2 6 1 3 2 61 0 6 0 5 8 0 0 0 Title Guaranty & Trust Co 878 210 1,126 250 50 Rah way—Rahway Trust Co 825 495 1,136 100 100 Ridgefield Park— Overpeck Trust Co 865 487 1,393 150 38 Ridgefield Park Trust Co 1,149 1,365 2.534 100 100 Ridgewood—Ridgewood Trust Co 1, 551 1,097 2,873 150 50 Rutherford—Rutherford Trust Co 2,254 667 2,575 200 i 300 Union City—Hudson Trust Co 16, 277 17, 517 33, 703 1,000 ! 2,0C0 West Orange—West Orange Trust Co.. 294 75 321 150 ! 25 West field- Peoples Bank & Trust Co 3,611 663 4,468 200 I 100 Westfield Trust Co.. 4,029 791 4,406 300 200 West wood—Westwood Trust Co 966 79 1,050 100 40 NEW YORK Adams—Citizens Trust Co 1,241 302 1,468 150 i 75 Albany—First Trust Co 10, 209 3,493 16,140 600 i 400 Albion—Orleans County Trust Co 515 158 602 100 ! 10 Amsterdam—Montgomery County Trust Co.. 2,493 2,099 4,335 200 i 400 Batavia—Bank of Genesee 1,406 838 2,250 100 ! 100 Belmont—State Bank of Belmont. 407 161 510 50 ! 50 Binghamton—Peoples Trust Co.. 5,313 2,497 8.050 500 | 300 Blasdell—Bank of Blasdell 255 71 321 30; 11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 515 [In thousands of dollars] Total deposits Capital surplus DISTRICT NO. 2—Continued NEW YORK—continued Brooklyn- Brooklyn Trust Co. 33,404 18,364 56,410 2,000 3,500 Erasmus State Bank. 844 99 900 200 52 Globe Exchange Bank 3,525 317 3,827 400 120 Mechanics Bank.. 35, 863 11, 598 56, 398 2.150 3,000 Midwood Trust Co. 7,065 2,542 10,147 1,000 450 Municipal Bank... 22, 655 4,823 28, 625 2,000 600 Buffalo- Liberty Bank of Buffalo _.. 49, 220 60,961 3 500 5,000 Manufacturers & Traders Trust Co 57, 225 22,680 87,169 3,000 3,000 Marine Trust Co 141,438 68, 668 201, 927 10,000 10,000 Peoples Bank of Buffalo 22, 474 3,655 28, 341 1.000 750 Canisteo—First State Bank 445 87 548 50 36 Chatham—State Bank of Chatham 656 1,551 2,109 100 100 Coney Island, New York City—Bank of Coney Island 1,780 2,319 4,706 200 100 Depew—Bank of Depew 655 923 1,393 100 50 Dunkirk—Dunkirk Trust Co 1,411 876 2.077 250 125 East Aurora—Bank of East Aurora 2,089 594 2^664 150 50 Elmira—Chemung Canal Trust Co 5,307 4,452 9.010 600 400 Endicott—State Bank of Endicott 2,123 1,627 3,888 100 100 Farmingdale—Bank of Farmingdale 532 373 939 25 20 Floral Park—Floral Park Bank 1,445 913 2,355 100 50 Fredonia—Citizens Trust Co 1,085 968 1,815 200 100 Geneva—Geneva Trust Co 2,488 2,041 4,674 250 200 Gloversville—Trust Co. of Fulton County. ___ 1,623 276 1,718 350 250 Hamburg—Peoples Bank 1,696 637 2,211 100 170 Hammondsport—Bank of Hammonds port 730 443 1,120 50 50 Hicksville—Bank of Hicksville 1,989 1,480 3,488 100 150 Ithaca—Ithaca Trust Co.. 3,563 2.833 6,588 300 300 Johnson City—Workers Trust Co 2,242 2,456 4,385 200 200 Kathonah—Northern Westchester Bank 170 926 1,100 50 25 Kingston—Kingston Trust Co 2,724 3,213 5,326 250 375 Lackawanna—American Bank of Lackawanna 715 732 1,447 100 35 Little Falls—Herkimer County Trust Co 3,097 2,739 5,242 350 350 Lowville—Lewis County Trust Co 1,328 825 2,224 200 100 Malone—Peoples Trust Co 2,945 1,084 3,918 300 100 Middleport—Community Trust Co 466 210 640 100 25 Millbrook—Bank of Millbrook 365 1,451 1,790 50 50 Mineola—Nassau County Trust Co 1,225 3,048 4,479 150 150 Mount Kisco—Trust Co. of Northern Westchester 59 242 265 100 15 New York— Amalgamated Bank 4,389 2,790 7,793 300 150 American Exchange—Irving Trust Co 340,186 105,198 620, 321 32,000 20,000 American Trust Co 36.148 14, 624 53, 942 4,000 2,250 American Union Bank 11, 848 428 12, 653 1,500 571 Bankers Trust Co 274, 676 101, 473 421, 628 20,000 20,000 Bank of America 76.473 4,515 168,082 6,500 5,000 Bank of Europe Trust Co 7,246 6, 397 13,052 1,000 350 Bank of the Manhattan Co. (Manhattan Co.) 152. 223 16, 250 281, 909 10; 700 10,700 Bank of New York & Trust Co 49.149 26, 952 103, 354 4,000 8,000 Bank of United States . 63, 711 15, 606 83, 953 5,000 3.000 Bank of Yorktown 2.092 571 1,765 1,000 250 Central Mercantile Bank & Trust Co 26, 626 5,179 39, 983 2,500 1,500 Central Union Trust Co 224, 265 58, 675 272,088 12, 500 25,000 Commonwealth Bank of the City of New York 8,558 3,779 16, 094 800 650 Continental Bank 6,103 1,818 16, 377 1,000 500 Corn Exchange Bank 104,774 89, 691 241, 311 10, 000 10,000 Equitable Trust Co 268, 058 55, 161 347, 349 30. 000 18,000 Farmers Loan and Trust Co 86, 976 50, 515 146, 942 10,000 10,000 Federation Bank & Trust Co 12, 571 3,532 16, 641 750 750 Fidelity Trust Co 28,283 I 17, 840 53, 094 4,000 2,500 Fifth Avenue Bank 18,764 | 8,517 29,154 500 2,000 Fulton Trust Co__ 11,694 I 3,267 15, 765 1,000 500 Guaranty Trust Co 409,305 I 60, 973 560, 553 25,000 20,000 International Acceptance Secutities & Trust Co 4,570 I 4,628 9,103 500 500 International Union Bank 2,693 i 563 3,512 250 209 Interstate Trust Co 7.799 ! 4,753 12,184 3,000 900 Longacre Bank 7,401 j 689 8,761 500 250 Manufacturers Trust Co 135.958 55, 894 214, 382 10,000 8,000 Murray Hill Trust Co 2,897 I 1,502 3,435 1,000 1,000 Mutual Bank 14,741 I 280 18,120 500 500 New Netherland Bank 11,079 1,875 13,992 600 450 New York Trust Co 177,945 22,882 278,647 10,000 10, 000 Times Square Trust Co 2,623 1,951 3,025 2,000 500 Trade Bank of New York 3,386 887 3,851 500 250 United States Mortgage & Trust Co 44,447 13,076 78,336 3,000 4,500 United States Trust Co 46,158 15,427 51,733 2,000 12,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

516 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Investments Capital 'Surplus DISTRICT NO. 2—Continued NEW YORK—continued Niagara Falls—Power City Bank 9,238 6,197 15, 795 1,000 500 Nyack—Rockland County Trust Co 2,194 1,408 3,711 100 100 Olean—Olean Trust Co 935 368 1,190 100 50 Oneida— Madison County Trust & Deposit Co 2,185 1,241 3,708 200 120 Orchard Park—Bank of Orchard Park 614 450 1,042 60 60 Oriskany Falls—First Trust & Deposit Co 360 700 939 100 20 Pearl River—State Bank of Pearl River 143 168 278 50 11 Perry—Citizens Bank 862 377 1,311 50 90 Pleasantville—Mount Pleasant Bank 2,735 403 3,111 100 100 Port Chester—Mutual Trust Co. of Westchester County 3,646 1,064 4,429 300 200 Rochester—Lincoln-Alliance Bank 36,444 8,071 52,660 2,000 2,000 Rome—Rome Trust Co 3,187 1,942 4,990 300 150 Schenectady—Schenectady Trust Co 12,108 4,310 16,493 500 500 Smithtown Branch—Bank of Smith town 453 | 714 1,166 50 25 Spring Valley—Ramapo Trust Co 879 400 1,139 100 35 Stony Brook—Bank of Suffolk County 554 I 251 786 50 25 Syracuse- City Bank Trust Co 29,031 i 2,254 30,074 2,500 1,000 First Trust & Deposit Co 25,132 ! 24,139 50,351 2,500 1,750 Syracuse Trust Co 21,885 i 12, 576 36,186 1,500 750 Utica— Citizens Trust Co 14,171 | 2,880 17,240 1,000 1,000 First Bank & Trust Co 15,212 | 5,720 18,879 1,500 1,500 Utica Trust & Deposit Co 9,543 ! 4,850 14,847 1,000 700 Warsaw—Trust Co. of Wyoming County. 684 | 369 986 100 20 Water town—Northern New York Trust Co , 7,409 j 2,132 9,353 400 400 Westbury—Bank of Westbury 928 ! 974 1,951 50 50 White Plains—County Trust Co 6,685 I 2,369 i 9,307 300 575 Williamsville—Amherst Bank 1,041 ! 716 1,360 100 30 DISTRICT NO. 3 DELAWARE Milford—Milford Trust Co 1,141 ! 394 1,334 100 200 Wilmington- Equitable Trust Co . 3, 737 ! 3,043 5,257 1,000 I 1,000 Security Trust & Safe Deposit Co 4, 245 4,772 7,435 998 ! 1,098 Wilmington Trust Co 15,389 2,622 16, 882 2,000 1,100 NEW JERSEY (See also District No. 2) Atlantic City- Atlantic Safe Deposit & Trust Co 5,764 1,487 7,188 300 500 Bankers Trust Co 2,481 159 3,056 100 150 Equitable Trust Co 3,453 925 4,272 200 300 Burlington—Burlington City Loan & Trust Co 927 1,551 2,004 100 200 Camden—Camden Safe Deposit & Trust Co 8,963 7,219 14, 940 750 1,500 Gloucester City—Gloucester City Trust Co 833 397 1,301 100 65 Hightstown—Hightstown Trust Co 631 151 744 100 40 Princeton—Princeton Bank & Trust Co 3,008 789 3,679 250 250 Riverside—Riverside Trust Co 1, 547 466 2.545 100 150 Swedesboro—Swedesboro Trust Co 594 249 757 100 30 PENNSYLVANIA (See also District No. 4) Allentown— Dime Savings & Trust Co 1,282 226 1,512 300 149 Liberty Trust Co 1,148 919 1,295 475 463 Penn Trust Co 1,748 852 2,727 300 200 Bloomsburg— Blooms burg Bank-Columbia Trust Co 1,765 1,008 2,816 375 125 Carlisle—Carlisle Trust Co 1,676 671 2,098 200 250 Chester—Cambridge Trust Co 4,750 2,143 6,458 500 900 Danville—Montour County Trust Co 258 257 487 125 25 Du Bois—Union Banking & Trust Co 1,344 1,129 2,034 250 600 East Petersburg—East Petersburg State Bank 151 49 134 50 15 Easton—Easton Trust Co 4.784 2,961 , 7,576 250 850 Egypt—Farmers Bank of Egypt '331 436 725 60 60 Frackville—Peoples Trust Co 457 209 582 125 65 Glenside—Glenside Bank & Trust Co 2,502 492 2,832 300 100 Harris burg— Central Trust Co 2,736 1,251 3,386 400 600 Dauphin Deposit Trust Co 2,618 2,064 4,714 300i 500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

517 STATE BANK MEMBERSHIP [In thousands of dollars] Loans I m nv e e n s t t s - de T p o o t s a i l ts Sapital Surplus DISTRICT NO. 3—Continued PENNSYLVANIA—continued Hazleton— American Bank & Trust Co_ 3,460 1,202 4,811 400 450 Markle Banking & Trust Co 2,911 3,884 6,577 600 1,150 Peoples Savings & Trust Co 2,126 2,441 4,298 250 350 Honesdale—Wayne County Savings Bank 1,592 2,722 3,826 200 700 Huntingdon—Grange Trust Co 781 298 1,008 125 65 Jenkintown—Jenkintown Bank & Trust Co 4,685 3,855 7,706 250 1,000 Kingston—West Side Trust Co 1,726 624 1,747 453 213 Kulpmont—Dime Deposit Bank 497 145 597 50 81 Lemoyne—Lemoyne Trust Co 1,093 299 1,036 200 200 Lewistown—Lewistown Trust Co 565 205 734 125 40 Lock Haven—Lock Haven Trust Co 1,935 1,195 2,984- 250 350 Luzerne—Merchants & Miners State Bank 260 65 340 50 5 Lykens—Miners Deposit Bank 855 422 1,070 50 175 Mahanoy City—Merchants Banking Trust Co 1,291 407 1,368 200 250 Mechanicsburg—First Bank & Trust Co 1,011 1,100 1,511 250 150 Middletown—Citizens Bank & Trust Co 661 212 697 125 75 Mill Hall—Mill Hall State Bank 180 103 293 35 10 Nanticoke—Miners Trust Co 1,335 1,202 2,574 125 175 New Oxford—Farmers & Merchants Bank 389 420 691 50 75 Norristown— Montgomery Trust Co 2,430 3,004 5,514 500 350 Penn Trust Co 6,488 2,722 8,491 1,000 1,000 Olyphant—The Olyphant Bank 1,551 1,279 2,668 100 200 Orrstown—Orrstown Bank 166 52 • 204 25 22 Philadelphia— Aldine Trust Co 4,829 962 4,039 1,000 1,000 Bank of North America & Trust Co 38,389 7,942 49,658 5,000 5,000 Colonial Trust Co 10, 806 3,161 13,321 1,000 1,000 Excelsior Trust Co 3,758 854 4,660 300 500 Federal Trust Co 2,899 2,898 5,866 200 350 Fidelity-Philadelphia Trust Co 53,655 48, 933 82, 342 6,700 21,000 Girard Trust Co 28,095 41,663 59,572 3,000 9,000 Ninth Bank & Trust Co 10, 919 6,527 16,517 750 1,750 Northeast-Tacony Bank & Trust Co 1,016 578 1,489 250 125 Oxford Bank & Trust Co 3,579 2,474 6,097 500 450 Pennsylvania Co. for Insurance on Lives and Granting Annuities 51,898 27,331 71,547 4,000 15,000 Peoples Bank & Trust Co 11,240 6,042 18, 957 1,000 300 Provident Trust Co 14, 538 12,44,0 15, 988 2,000 5,000 West Philadelphia Title & Trust Co 5,332 4,135 8,721 500 900 Port Carbon—Port Carbon State Bank 180 205 407 50 15 Reading— Berks County Trust Co 7,115 960 6,827 1,000 1, 250 Northeastern Trust Co .,._ 2,449 925 2,844 500 281 Schnecksville—Schnecksville State Bank 39 116 162 25 3 Schuylkill Haven—Schuylkill Haven State Bank 1,104 856 1,790 125 225 Scranton—Peoples Savings & Dime Bank & Trust Co__ 12, 665 2,955 15, 551 1,000 1,000 Shamokin— Dime Trust & Safe Deposit Co 1,342 575 1,932 125 250 Shamokin Banking & Trust Co 500 433 782 125 125 Tamaqua—Peoples Trust Co 381 1,160 125 125 Wilkes-Barre— Dime Bank Title & Trust Co 3,768 660 3,640 400 600 Union Savings Bank & Trust Co 1,295 992 1,784 469 319 Williamsport— Northern Central Trust Co 4,036 1,015 5,731 500 400 Susquehanna Trust Co 4,159 934 4,004 500 600 Williamstown—Williams Valley Bank 603 309 781 50 75 Wyomissing—Peoples Trust Co 1,780 1,011 2,379 500 350 York- Citizens Savings & Trust Co 2,110 720 2,508 500 200 Guardian Trust Co 2,349 1,438 3,121 500 500 North York State Bank 114 196 299 40 10 York Trust Co 3,478 466 3,246 500 700 DISTRICT NO. 4 KENTUCKY (See also District No. £ Lexington—Security Trust Co 1,770 1,070 3,146 500 150 Richmond—State Bank & Trust Co.. 993 81 1,059 150 55 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

518 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Loans I m nv e e n s ts t- Surplus DISTRICT NO. 4—Continued OHIO Akron— Central Savings & Trust Co 12,683 : 985 14, 932 1,000 500 Depositors Savings & Trust Co 6,792 I 1,438 8,259 500 512 Firestone Park Trust & Savings Bank 3,345 1,219 5,022 200 150 First Trust & Savings Bank 24,002 i 4,308 28,641 1,500 1,500 Alliance—City Savings Bank & Trust Co__ 2,746 ! 804 3,880 250 125 Antwerp—Antwerp Exchange Bank Co__ 304 | 76 414 25 8 Apple Creek—Apple Creek Banking Co. 156 ! 22 187 25 20 Atwater—Atwater Savings Bank 188 I 143 341 25 12 Barberton— Peoples Savings & Banking Co 1,694 285 2,207 100 50 Bellefontaine—Peoples-Commercial Bank 1,108 76 1,261 125 28 Bowling Green—State Bank of Bowling Green. _ 515 i 93 509 100 20 Bridgeport—Bridgeport Bank Co 537 ' 160 499 100 65 Canton—Dime Savings Bank Co 3,318 ! 1,456 5,040 500 245 Chagrin Falls—Chagrin Falls Banking Co 1,585 ! 698 2,224 100 100 Cincinnati— Brighton Bank & Trust Co 9,540 3,974 i 15,078 500 250 Fourth & Central Trust Co.- 17,923 2,858 i 21,081 2,000 2,000 Pearl Market Bank 7,608 1,645 | 9,577 400 400 Provident Savings Bank & Trust Co 19,036 6,441 ! 31,802 1,620 1,620 Union Trust Co 20,473 13,472 34, 754 1,000 4,000 Western Bank & Trust Co 14,392 3,362 ; 16,806 1,000 1,000 Cleveland- Cleveland Trust Co 165, 731 25,297 i 205,201 8,600 4,300 Guardian Trust Co 88,000 29,208 ! 119,115 J 4,000 5,000 Lake Erie Trust Co 5,678 1,352 5,873 1,000 250 Midland Bank 19, 349 5,065 23, 622 2,000 1,000 Pearl Street Savings & Trust Co 21, 704 5,653 i 27, 885 1,500 1,000 Union Trust Co 206, 734 51,939 I 286, 461 22,850 | 11,750 United Banking & Trust Co 19, 542 2,530 i 23, 620 1,500 I 750 Columbiana—Union Banking Co 430 95 ! 681 50 I eo C C o o n lu n m ea b u u t s — —Citizens Trust & Savings Bank 15, 821 5,656 ; 26, 495 1, 500 650 Citizens Banking & Trust Co 929 238 1,060 125 I 31 Conneaut Mutual Loan & Trust Co 2,047 887 ! 3,098 125 ! 125 Danville—Commercial & Savings Bank Co 298 22 ! 309 25 i 25 Delphos—-Peoples Bank of Delphos 377 75 i 463 50 ! 21 Delta—Peoples Savings Bank Co 460 162; 624 25 38 Eldorado—Farmers State Bank 370 34 I 370 35 10 Frazeysburg—Peoples Bank Co 530 63 524 25 50 Geneva—Geneva Savings Bank Co 1,142 241 I 1,332 100 100 Gibson burg— Gibsonburg Banking Co 617 128 ! 750 50 29 Home Banking Co 502 142 i 655 25 25 Hillsboro—Hillsboro Bank & Savings Bank 369 156 i 518 50 35 Hubbard—Hubbard Banking Co 650 183 | 881 50 50 Lima—First American Bank & Trust Co 2,730 312 ! 3,037 400 114 Lodi— Lodi State Bank 497 145 | 576 40 60 Lyons—Farmers State Bank 209 2 ! 207 25 3 Mansfield—Farmers Savings & Trust Co 1,788 555 i 2,117 200 200 Massillon—Ohio Merchants Trust Co 4.388 1,601 ! 5,622 1,000 272 McCutchenville—Farmers Bank 117 4 ! 107 30 3 Metamora—Farmers & Merchants Bank Co 334 1 ! 336 25 11 Middlefield—Middlefield Banking Co 354 95 I 483 25 30 Middletown—American Trust & Savings Bank. 1,645 691 ! 2,475 150 45 Milan—Farmers & Citizens Banking Co 319 176 | 559 25 15 Minerva— Minerva Banking Co.- 430 ! 157 545 50 15 Minerva Savings & Trust Co. 1,004 I 379 1,391 125 40 Minster—Minster State Bank _ 385 I 16 398 25 40 Napoleon—Napoleon State Bank 1,321 | 176 1,551 50 100 Newark—Newark Trust Co.. 3,193 | 184 3,646 200 200 New Philadelphia— Merchants State Bank _ _ 806 134 794 150 73 Ohio Savings & Trust Co 1,175 549 1,714 150 125 Newton Falls—First State Bank 1,367 149 1,408 125 40 Orrville—Orrville Savings Bank 564 131 702 50 52 Peninsula—Peninsula Banking Co 229 88 273 50 10 Portsmouth—Security Bank 2,385 172 2, 423 300 200 Kittman—Rittman Savings Bank 445 76 541 60 22 St. Clairsville—Dollar Savings Bank Co 550 210 677 50 45 St. Marys- American State Bank 413 484 50 25 Home Banking Co _.. 741 268 1,078 100 35 Shadyside—Shadyside Bank 317 51 312 50 14 Shelby—Citizens Bank 827 400 1,252 100 50 S S t h e i u lo b h e — nv S il h le il — oh Savings Bank Co... 305 54I 365 25 40 Steubenville Bank & Trust Co 3,713 631 I 4,191 650 262 Union Savings Bank & Trust Co 3,756 506 I 3,735 350 350 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

519 STATE BANK MEMBERSHIP [In thousands of dollars] Surplus DISTRICT NO. 4—Continued OHIO—continued Toledo- Commerce Guardian Trust & Savings Bank 21, 783 2,301 25, 447 1,400 700 Commercial Savings Bank & Trust Co 9,907 3,532 15,065 200 550 Toledo Trust Co 30,479 6,076 35,192 5,000 3,000 Upper Sandusky—Citizens Savings Bank 512 143 656 50 50 Vermilion—Erie County Banking Co 499 165 718 50 21 Wakeman—Wakeman Bank Co 245 57 325 25 15 Warren—Union Savings & Trust Co 4,434 508 4,787 600 400 Wellington—First Wellington Bank 1,052 120 1,034 85 100 West Lafayette—West Lafayette Bank Co 800 155 871 100 50 Wooster—Commercial Banking & Trust Co 750 267 856 150 58 Youngstown— City Trust & Savings Bank ... 10,141 1,446 10, 584 1,000 1,150 Dollar Savings & Trust Co.. . 18,801 979 19, 932 2,500 1,250 PENNSYLVANIA (See also District No. 3) Ambridge—Ambridge Savings & Trust Co. _ 1,726 2,280 3,796 125 250 Beaver—Beaver Trust Co - , 1,469 424 1,511 300 150 Beaver Falls—Federal Title & Trust Co.. 1,234 148 1,390 200 50 Bellevue—Bellevue Savings & Trust Co 1,228 1,080 2,210 125 150 Butler—Guaranty Trust Co. 3,368 1,758 4,386 500 600 East Pittsburgh—East Pittsburgh Savings & Trust Co. 1,640 2, 723 4,758 200 300 Erie—Security Savings & Trust Co 4,310 1,393 6,094 200 600 Greensburg— Merchants Trust Co._ 2, 812 754 3,467 300 325 Union Trust Co 1,850 208 1,918 400 80 Meadville—Crawford County Trust Co 1,682 675 ; 2,539 200 100 New Brighton—Beaver County Trust Co 1,151 342 I 1,077 400 200 New Castle—Lawrence Savings & Trust Co , 2,343 3,001 | 4,831 300 400 Pittsburgh— Allegheny Trust Co 3,631 3,237 ! 6,229 700 950 City Deposit Bank 11,548 5,209 | 16,167 500 1,000 Colonial Trust Co.. 15,899 7,743 j 23, 230 2,600 3,000 Commonwealth Trust Co 8,587 5,312 13,160 1,500 1,500 Oakland Savings & Trust Co 2,299 3,528 5,811 300 400 Pittsburgh Trust Co 12, 297 5,769 I 17,978 2,000 2,000 Potter Title & Trust Co 5,930 1,815 ! 7,696 500 550 Union Trust Co 92, 331 72,951 128, 639 1,500 50,000 Washington—Real Estate Trust Co.. 2,126 884 I 2, 561 200 600 Windber—Windber Trust Co . 1,974 1,624 | 3,334 250 400 Woodlawn—Woodlawn Trust Co 1, 580 506 i 2,046 125 125 WEST VIRGINIA (See also District No. 5) Sistersyille—First Tyler Bank & Trust Co 2,048 74 2,135 200 100 Wheeling- Security Trust Co.. ... 3,025 1,067 | 3,515 300 300 Wheeling Bank & Trust Co 5,975 825 I 7,428 500 500 DISTRICT NO. 5 MARYLAND Baltimore— Baltimore Commercial Bank 8,866 785 11,122 1,000 350 Baltimore Trust Co . 33,503 10,433 49, 623 3,500 3,500 Maryland Trust Co.. 6,355 2,419 11, 283 1,000 500 Forest Hill—Forest Hill State Bank 198 65 238 25 25 Salisbury—Farmers & Merchants Bank 1,179 57 1,075 100 100 NORTH CAROLINA Belhaven—Farmers Bank 148 164 25 Charlotte- American Trust Co. 11,430 506 i 15, 884 1,200 600 Independence Trust Co 4,957 552 ! 5,146 1,000 500 Edenton—Bank of Edenton 912 60 790 100 100 Elizabeth City—Carolina Banking & Trust Co 978 184 i 947 250 5 Forest City—Farmers Bank & Trust Co . 2,474 135 : 2,533 250 250 Tarboro—Farmers Banking & Trust Co.. 683 18 | 834 100 75 Washington—Bank of Washington. 857 86 ! 1,112 100 91 Winston-Salem—Wachovia Bank & Trust Co.. 28, 527 2,945 40,176 2,175 1,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] I I m nv e e n s ts t- Capital Surplus DISTRICT NO. 5—Continued SOUTH CAROLINA Bishopville—Peoples Bank 237 43 256 25 75 Charleston—Carolina Savings Bank... 1,431 1,805 3,258 ! 200 150 Cheraw—Bank of Cheraw 741 228 772 j 150 75 Chester—Commercial Bank.. 701 105 977 100 100 Darlington—Bank of Darlington 67 899 I 100 100 Florence— Commercial & Savings Bank 1,433 121 1,964 ! 250 100 Palmetto Bank & Trust Co... 505 69 542 100 23 Georgetown—Bank of Georgetown 936 130 1,191 100 100 Hartsville—Bank of Hartsville 753 60 1,047 75 43 Rock Hill—Citizens Bank & Trust Co.... 616 88 669 144 26 St. Matthews—Home Bank 316 4 326 70 20 Sumter—Peoples Bank 460 56 334 100 17 Union—Nicholson Bank & Trust Co 877 310 1,185 200 200 Walterboro—Farmers & Merchants Bank. 408 79 490 100 30 Westminster—Westminster Bank 526 64 481 100 25 Woodruff—Bank of Woodruff 353 4 343 78 38 Blackstone—Citizens Bank & Trust Co 683 706 100 70 Chase City—Peoples Bank & Trust Co 582 574 100 35 Galax—Peoples State Bank (Inc.).. 478 509 50 36 Kenbridge—Bank of Lunenburg (Inc.) 593 598 65 110 Norfolk—Citizens Bank of Norfolk 6,189 5,948 1,000 500 Petersburg—Petersburg Savings & Trust Co. 3,139 3,386 500 500 Richmond— Bank of Commerce & Trusts ._ 4,983 217 4,455 500 500 Savings Bank of Richmond. - 2,015 113 1,657 200 400 State-Planters Bank & Trust Co 26, 573 4,981 35, 734 2,500 1,500 Union Bank & Federal Trust Co. 4,088 362 3,662 750 500 Rural Retreat—Peoples Bank... 146 2 146 35 4 Victoria—Bank of Victoria (Inc.) 274 303 30 8 WEST VIRGINIA (See also District No. 4) Berwind—Berwind Bank... 202 1,090 100 Charleston— Kanawha Banking & Trust Co 3,039 619 3,286 500 250 Kanawha Valley Bank 7,898 1,786 10,392 1,000 1,200 Franklin— Farmers Bank of Pendleton 639 3 658 50 50 Franklin Bank 320 2 242 40 20 Grafton—Grafton Banking & Trust Co 855 203 1,226 100 50 Harpers Ferry—Bank of Harpers Ferry..--. 138 53 190 25 6 Hurricane—Putnam County Bank 378 50 289 50 50 Martinsburg— Peoples Trust Co 1,387 19 1,379 200 102 Shenandoah Valley Bank & Trust Co. 512 598 100 25 Moore field—Hardy County Bank 126 2 116 50 3 Petersburg—Potomac Valley Bank 234 10 198 50 5 St. Marys—Pleasants County Bank 403 31 314 75 30 Salem—Merchants & Producers Bank 506' 2 572 50 4 DISTRICT NO. 6 Birmingham— American Trust & Savings Bank 11,231 1,045 14,103 1,000 500 Birmingham Trust & Savings Co 15, 455 1,815 20, 927 1,000 1,000 Brotherhood of Locomotive Engineers Bank & Trust Co 1,679 1,262 500 55 Clayton—Bank of Commerce 221 17 227 50 25 Guin—Marion County Banking Co 306 23 417 25 45 Hartselle—Farmers & Merchants Bank.. 332 2 404 50 8 Hurtsboro—Farmers & Merchants Bank 103 7 108 31 23 Marion—Marion Central Bank... 447 40 543 50 100 Mobile- ! Merchants Bank 10,023 856 11.848 500 500 Peoples Bank ._. ._. 3,405 340 4,148 400 100 Monroe ville—Monroe County Bank 651 200 836 100 50 Orrville—Orrville Bank & Trust Co 57 16 63 35 Roanoke— Merchants & Farmers Bank 339 13 392 75 15 Roanoke Banking Co 821 12 770 200 200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 521 [In thousands of dollars I Loans I m nv e e n s ts t- de T p o o t s a i l ts Capital Surplus DISTRICT NO. 6—Continued ALABAMA—continued Samson—Farmers & Merchants Bank. _. 273 240 60 20 Selma—Peoples Bank & Trust Co 995 900 100 100 Talladega—Bank & Trust Co 100 29 Tuskegee—Macon County Bank . 450 50 75 Wetumpka—Bank of Wetumpka 106 155 25 15 FLORIDA Jacksonville—American Trust Co 500 57 200 68 Lakeland—Central Bank & Trust Co .... 1,343 70 1,524 150 75 Lake Wales—Citizens Bank of Lake Wales... 376 9 397 75 18 Leesburg—Leesburg State Bank 742 839 1,775 100 50 Marianna—Citizens State Bank 231 34 284 30 Miami—Southern Bank & Trust Co 3,805 882 6,262 100 100 Orlando—Bank of Orange & Trust Co 1,390 313 1,916 200 50 Tallahassee—Exchange Bank 334 99 442 50 30 Tampa—Citizens Bank & Trust Co 15, 799 3,201 22,883 1,000 1,000 Winter Park—Bank of Winter Park 601 317 1,399 60 20 GEORGIA Atlanta- Atlanta Trust Co 4,961 652 5,203 1,500 300 Georgia Savings Bank & Trust Co 3,271 834 3,395 500 350 Trust Company of Georgia 7, 898 2,678 7,424 2,000 1,000 Bainbridge—Citizens Bank & Trust Co 792 20 850 100 20 Boston—Bank of Boston 99 1 90 25 5 Brunswick—Brunswick Bank & Trust Co 1,105 280 1,829 230 101 Camilla—Bank of Camilla 191 4 148 50 10 Carrollton—Peoples Bank 326 5 456 60 30 Claxton—Citizens Bank of Claxton 151 1 168 30 6 Commerce—Northeastern Banking Co _.. 305 108 395 100 60 Cordele—Exchange Bank 645 6 558 100 100 Dacula—Dacula Banking Co 55 1 1 25 5 Dawson—Bank of Dawson 356 4 280 100 46 Douglasville—Douglasville Banking Co 467 5 381 75 25 Eastman— Bank of Eastman 222 58 158 60 11 Citizens Banking Co 477 82 535 100 20 Eatonton— Farmers & Merchants Bank .. 44 1 45 25 Middle Georgia Bank 187 4 192 50 Forsyth—Monroe County Bank 184 2 224 25 30 Girard—Farmers & Merchants Bank 182 1 110 25 10 Graymont—B ank of Graymont 55 6 43 25 1 Greenville- Greenville Banking Co 372 10 392 65 65 Peoples Bank 142 9 136 30 28 Hoschton—Bank of Hoschton 36 1 23 30 12 Jackson—Jackson Banking Co 212 60 182 100 20 Jefferson—Citizens Bank & Trust Co 257 13 132 94 14 La Grange—La Grange Banking & Trust Co. 1,978 117 1,467 250 450 Lawrence ville—Brand Banking Co 400 100 645 50 50 Lincolnton—Farmers State Bank 125 10 171 25 10 Locust Grove—Bank of Locust Grove 102 1 89 25 5 Madison—Bank of Madison... 223 147 293 100 75 McDonough— Bank of Henry County 247 4 141 50 30 Farmers & Merchants Bank 167 2 106 50 25 Metter— Bank of Candler County 108 1 109 ! 25 4 Citizens Bank 173 2 178 ! 30 20 Millen—Bank of Millen 268 46 458 | 50 50 Monroe— Bank of Monroe 401 26 337 ! 150 75 Farmers Bank.. 285 70 301 150 30 Pelham—Farmers Bank 402 5 341 100 50 Pendergrass—Pendergrass Banking Co 14 1 18 25 Portal—Bank of Portal 111 3 66 25 5 Reynolds—Citizens State Bank 55 1 49 25 3 Rhine—Rhine Banking Co 55 1 60 25 4 Sardis—Peoples Bank 74 1 33 25 6 Sasser—Bank of Sasser 73 7 74 25 33 Savannah- Citizens & Southern Bank 47,431 1,607 61, 671 3,000 2,500 Citizens Bank & Trust Co..... 1,607 23 1,525 300 75 Liberty Bank & Trust Co 3,468 753 5,197 300 350 Savannah Bank & Trust Co 4,788 419 5,327 700 700 Soperton—Bank of Soperton 230 2 280 25 25 Statesboro—Bank of Statesboro 600 125 651 100 75 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

522 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Iln thousands of dollars] Investments Capital Surplus deposits DISTRICT NO. 6—Continued G EORGIA—continued Swainsboro—Central Bank _ 73 189 13 Toccoa—Bank of Toccoa ..- 137 156 10 Wadley—Bank of Wadley... __ „ 110 144 25 Winterville—Pittard Banking Co. ._ 47 13 5 Zebulon—Bank of Zebulon 77 118 12 LOUISIANA (See also District No. 11) Gretna—Jefferson Trust & Savings Bank 968 I 208 1,105 80 2t New Orleans- Algiers Trust & Savings Bank 930 ! 284 1,119 200 50 American Bank & Trust Co 7,288 I 251 7,150 500 250 Canal Bank & Trust Co 62,798 ! 13,156 76, 652 4,750 2,250 Hibernia Bank & Trust Co 33,625 ! 8,457 52,122 2,000 2,500 Interstate Trust & Banking Co. _ 9,560 ! 2, 741 13,863 750 1,050 Marine Bank & Trust Co 19,172 ! 3,104 26, 253 2,000 1.125 New Orleans Bank & Trust Co. 7,595 | 60 7.028 1,200 300 Opelousas—Parish Bank & Trust Co 498 ! 8 626 50 12 Ville Platee—Evangeline Bank & Trust Co 570 ! 15 605 75 38 TENNESSEE (See also District No. 8) | Chattanooga—Chattanooga Savings Bank & Trust Co.... 6, 080 ; 237 6,345 1,000 Wartrace—Wartrace Bank & Trust Co i 58 ; 38 25 : DISTRICT NO. 7 | ILLINOIS (See also District No. S) Argenta—The Gerber State Bank 165 ' 31 202 25 8 Auburn—Auburn State Bank 460 i 95 604 50 20 Barrington—First State Bank 576 114 678 50 45 Blandinsville—Huston Banking Co 950 32 976 60 40 Chicago— Adams State Bank - 993 : 1,014 2,290 200 40 Austin State Bank _. 3,688 ' 1,925 6,109 300 200 Capital State Savings Bank 3,373 1,573 4,835 300 100 Central Trust Co. of Illinois... 70,256 ! 12,155 95, 545 6,000 3,000 Chicago Trust Co 22,319 3,087 29, 924 2,000 1,000 Columbia State Savings Bank _ 1,743 : 712 2,618 200 50 Depositors State Bank ._ 2,861 1,997 5,396 350 200 Drexel State Bank _ _. 6,032 1,347 8,225 350 200 First Trust & Savings Bank 76,607 ! 49,377 121, 028 7,500 7,500 Harris Trust & Savings Bank 40,502 26, 662 75,694 4,000 4,000 Home Bank & Trust Co 7,113 2,305 9,148 1,000 500 Hyde Park State Bank 4,096 971 5,260 300 300 Illinois Merchants Trust Co 265,382 75, 741 368, 468 15, 000 30,000 Independence State Bank.. 4,281 630 5,357 400 125 Kasper-American State Bank. 8,673 8,092 16,423 1,600 400 Madison & Kedzie State Bank 9,905 621 11, 701 1,000 250 Mercantile Trust & Savings Bank 7,952 1,644 10,988 600 225 Noel State Bank 8,039 ! 389 8,833 1,000 300 Northern Trust Co 35,929 13, 545 54,915 2,000 3,000 Northwestern Trust & Savings Bank 10,332 ; 7,784 19, 594 1,000 500 Second Security Bank _ 3,156 2,249 5,655 350 200 Security Bank of Chicago 5,680 2,923 8,494 700 350 South Side Trust & Savings Bank 7,470 1,583 9,492 750 250 Standard Trust & Savings Bank 14,298 1,727 18, 623 1,000 500 State Bank of Chicago 50,140 3,962 57,975 2,500 5,000 Twenty-sixth Street State Bank. 765 1,275 2,241 200 45 Union Trust Co 55,986 10,311 76, 847 3,000 3,000 United State Bank of Chicago 1,990 1,204 3,281 200 150 Woodlawn Trust & Savings Bank 6,391 2,791 9,416 500 200 Cicero— Cicero Trust & Savings Bank.. 1,553 366 1,954 200 100 Western State Bank 2,283 686 3,082 350 150 Cowden—State Bank of Cowden 282 1 312 25 10 Des Plaines—Des Plaines State Bank.. 1,522 167 1,693 200 125 Divernon—First State Bank 333 51 320 50 10 Eureka—Farmers State Bank 477 32 510 .50 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 523 [In thousands of dollars] Invest- d Z epo s s t it s JCapital Surplus DISTRICT NO. 7—Continued ILLINOIS—continued Evanston— Evanston Trust & Savings Bank 2,004 829 2,952 200 100 State Bank & Trust Co 7,981 784 10,102 i 300 500 Fulton—Whiteside County State Bank 465 8 494 ! 50 8 Geneva—State Bank of Geneva 959 410 1,389 i 100 50 Hinckley—Hinckley State Bank 501 14 408 ' 50 25 Hinsdale—Hinsdale State Bank 449 1,028 100 25 Joliet— Commercial Trust & Savings Bank 1,069 297 1,672 100 20 Joliet Trust & Savings Bank 1,462 512 2,277 100 100 Kewanee—Union State Savings Bank & Trust Co. 907 171 1,161 150 25 La Grange— La Grange State Bank 1,358 721 1,990 200 100 La Grange Trust & Savings Bank 1,258 389 1,833 100 50 Magnolia—First State Bank 120 1 62 25 6 Marshall—Marshall State Bank 338 66 397 60 15 Martinsville—Martinsville State Bank 365 33 392 50 20 Matteson—First State Bank 156 40 183 25 25 Mattoon—Central Illinois Trust & Savings Bank. 853 124 910 100 100 Mount Carroll— Carroll County State Bank 1,128 223 1,327 100 25 First State Bank 233 1,267 i 100 25 Oak Park— * Oak Park Trust & Savings Bank 5,108 1,618 6,822 400 200 Suburban Trust & Savings Bank ._ 1,543 1,314 i 2,827 200 150 Oswego—Oswego State Bank 310 3 I 250 50 10 Polo—Polo State Bank 471 80 I 481 60 30 Rock Island—First Trust & Savings Bank__ 1,271 174 1,503 200 50 Seneca- Farmers Trust & Savings Bank.. 27 109 25 10 State Bank of Seneca 320 12 340 50 25 Shannon—State Bank of Shannon __ 231 60 295 50 7 Springfield—Ridgely Farmers State Bank... 4,955 1,386 7,227 600 150 Stockland—Summer State Bank__ 141 113 238 50 10 Wenona— First State Bank 461 217 652 50 50 Wilmette—Wilmette State Bank 1,633 1,058 2,734 100 100 INDIANA (See also District No. 8) Connersville—Fayette Bank & Trust Co 1, 797 387 2,057 400 36 Elkhart—St. Joseph Valley Bank 3,092 886 4,340 250 150 Hammond—First Trust & Savings Bank_ _. 4,965 1,281 j 6, 895 500 300 Indianapolis—Fletcher Savings & Trust Co 8,794 9,134 I 20, 176 1,500 1,000 Jamestown—Citizens State Bank.. 285 40 j 375 30 20 Kentland—Kent State Bank 346 3 I 382 50 50 Marion—Grant Trust & Savings Co 2,601 121 i 2,985 241 172 North Liberty—North Liberty State Bank 337 2 I 308 50 13 Richmond—Dickinson Trust Co__ ... 1,547 560 2,386 200 50 Rochester—United States Bank & Trust Co 600 712 75 25 South Bend— American Trust Co 4,341 442 5.065 500 160 St. Joseph Loan & Trust Co... _ -. 4,193 915 A, All 800 200 South Whitley—Mayer State Bank__ 181 81 283 25 21 Terre Haute—Terre Haute Trust Co__ 6,237 1,370 8,482 500 500 Tipton—Farmers Loan & Trust Co 535 7 583 50 50 Algona—County Savings Bank __. _ 1,917 41 2,065 100 60 Alta Vista—Alta Vista Savings Bank 362 7 369 30 20 Ames—Story County Trust & Savings Bank 632 33 890 50 20 Barnes City—Farmers Savings Bank 434 2 457 50 10 Bellevue—Bellevue State Bank. 784 2 808 60 15 Bennett—Bennett Savings Bank 294 59 403 50 i 5 Blairsburg—State Bank of Blairsburg 275 1 260 25 | 10 Burlington—First Iowa State Trust & Savings Bank 6,425 2,283 9,701 600 s 450 Cedar Falls—Security Trust & Savings Bank 342 49 455 50 10 Cedar Rapids—Iowa State Savings Bank. ._ 2,417 258 2,861 I 200 I 50 Chariton—State Savings Bank.__ 696 151 951 50 i 50 Charter Oak—Farmers State Bank 333 2 380 40 i 10 Cherokee—Cherokee State Bank 936 307 1,396 75 75 Clinton—Peoples Trust & Savings Bank 3,436 1,478 5,342 | 300 ! 300 Davenport—American Commercial & Savings Bank 19, 696 1,687 22,860 1.000 I 500 Decorah—Winneshiek County State Bank 1,999 400 2,622 150 | 75 Des Moines— Bankers Trust Co _ 3,213 1.541 4,000 1,000 ! 200 Central State Bank 3.685 2,132 7,625 250 ! 250 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

524 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Loans I m nv e e n s t t s - de T p o o t s a i l ts Capital Surplus DISTRICT NO. 7—Continued IOWA—continued Dexter—Iowa State Bank 154 1 176 25 15 Early—State Bank of Earlv. _ 464 2 487 50 10 Elberon—Farmers State Bank .. 548 192 807 50 20 Eldora—Citizens Savings Bank 186 8 175 50 25 Elkader—Elkader State Bank. 669 178 1,019 50 25 Ellsworth- Farmers State Bank ... 146 1 127 25 10 State Bank of Ellsworth 191 2 176 3 Fairbank—Fairbank State Bank 453 105 592 26 24 Fairfield— Iowa Loan & Trust Co 379 71 482 50 12 Iowa State Savings Bank.. 1,287 274 1,682 200 75 Farragut—Commercial Savings Bank . ._ 105 2 107 40 Fort Madison- American State Bank 950 98 1,218 100 22 Fort Madison Savings Bank 1,293 593 2,235 100 80 Gilbert—Gilbert Savings Bank... 161 6 140 25 25 Gilman—Citizens Savings Bank 250 2 182 50 10 Grand River—Farmers State Bank 256 1 293 25 15 Grant—Farmers Savings Bank 99 2 103 25 5 Greenfield—Greenfield Savings Bank 200 73 320 30 10 Knoxville—Guaranty State Bank 341 26 377 50 15 Lake View—Lake View State Bank . 189 2 175 25 25 Lakota—Farmers & Drovers State Bank 213 1 253 30 10 Lowden—Lowden Savings Bank 188 149 357 25 15 Lytton—Farmers Savings Bank 251 1 210 30 18 Malcom—Malcom Savings Bank . 181 1 214 25 2 Mechanicsville—Mechamcsville Trust & Savings Bank... 397 25 530 50 25 Mediapolis—Commercial State Bank . 435 5 312 100 35 Missouri Valley—State Savings Bank 261 22 360 50 10 Mondamin—Mondamin Savings Bank _ 241 11 240 35 15 Monticello—Monticello State Bank 2,341 448 2,845 200 200 Moorhead—Moorhead State Bank . 295 12 338 30 30 Moville—Moville State Bank 305 2 306 35 26 Newton—Jasper County Savings Bank . 1,608 26 2,369 100 50 Osage—Home Trust & Savings Bank 403 259 721 50 25 Osceola—Iowa State Bank 161 2 171 50 Ottumwa—Ottumwa Savings Bank . 918 545 1,545 100 100 Palmer—Farmers Savings Bank 286 1 258 35 8 Riceville—Rice vile State Bank . . .... 177 1 184 25 15 Royal—Home State Bank 141 16 163 25 Sac City—Farmers Savings Bank _. 542 44 528 100 Schaller—Schaller Savings Bank 196 57 303 25 15 Shenandoah—Security Trust & Savings Bank... 404 36 547 60 12 Sibley—Sibley State Bank . 478 15 507 50 15 Sioux Center—Sioux Center State Bank. 218 2 216 25 20 Solon—Ulch Bros. State Bank 524 142 703 50 15 Storm Lake—Security Trust & Savings Bank 283 28 365 75 7 Strawberry Point—Strawberry Point State Bank 570 59 794 50 10 Tipton—Farmers & Merchants Savings Bank 339 44 428 50 6 Ute—State Savines Bank 293 2 184 50 15 Vail—Farmers State B ank 117 2 71 50 Van Wert—Van Wert State Bank 195 '2 201 25 15 Wapello—Wapello State Savings Bank. _ 542 25 400 30 6 Winterset—Madison County State Bank 1,067 304 1,391 125 125 MICHIGAN (See also District No. 9) Adrian— Adrian State Savings Bank 518 1,302 1,800 150 100 Commercial Savings Bank . 489 1,143 1,723 110 30 Lenawee County Savings Bank 695 1,350 2,147 150 50 Albion— Albion State Bank 478 269 728 50 10 Commercial & Savings Bank 691 433 1,043 100 55 Alpena—Alpena County Savings Bank 1,300 2,418 3,573 100 200 Ann Arbor— Farmers & Mechanics Bank . . 3,154 484 3,563 200 100 State Savings Bank 3,501 1,583 4,986 300 300 Armada- Armada State Bank 594 2 596 25 25 Farmers State Bank 296 50 367 25 12 Bay City- Bay City Bank 2,402 2,415 4,939 350 200 Farmers State Savings Bank _ . 882 213 978 100 35 Peoples Commercial & Savings Bank 4,900 4,224 8,300 400 600 Bellevue—Farmers State Bank 70 42 115 25 5 Benton Harbor—Benton Harbor State Bank 1,039 449 1,606 100 75 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 525 [In thousan ds of dollars] I m nv e e n s ts t- de T p o o t s a i l ts CapitalSurplus DISTRICT NO. 7—Continued MICHIGAN—continued Big Rapids- Big Rapids Savings Bank 781 265 1,070 50 25 Citizens State Bank 640 970 1,711 50 25 Birmingham—First State Savings Bank. 1,949 556 2,507 200 150 Blanchard—Blanchard State Bank 90 236 342 25 5 Blissneld—Blissfield State Bank 314 442 829 50 52 Britton—Peoples State Savings Bank 182 156 287 25 5 Brown City—Brown City Savings Bank 374 29 483 40 8 Caledonia—State Bank of Caledonia 260 361 612 50 11 Caro—State Savings Bank 752 116 858 75 25 Carson City—Farmers & Merchants State Bank_ 187 94 289 25 5 Cass City—Pinney State Bank 464 232 756 50 10 Cassopolis—Cass County State Bank 282 105 381 40 10 Charlotte—Eaton County Savings Bank 608 458 1,084 100 20 Chelsea— Farmers & Merchants Bank 541 349 843 50 50 Kempf Commercial & Savings Bank 464 205 602 60 40 Coloma—State Bank of Coloma • 355 71 412 50 20 Coopersville—Peoples Savings Bank 437 7 557 25 5 Croswell— First State Savings Bank 230 413 620 30 State Bank of Croswell 544 551 1,146 60 12 Davison—Davison State Bank 467 40 472 50 10 Dearborn—Dearborn State Bank 2,004 1,426 3,648 100 150 Detroit- American State Bank 25, 714 4,189 31, 542 2,000 750 Bank of Detroit 26, 659 14, 504 40, 887 4,000 1,000 Central Savings Bank 27, 497 6,204 38, 925 2,000 2,000 Commercial State Savings Bank 6,287 790 8,079 1,000 200 Detroit Savings Bank 26,985 10,791 38, 329 1, 500 2,000 Dime Savings Bank 39, 055 18,385 60, 653 1,500 3,000 First State Bank 20, 280 1,999 2], 130 2,500 700 Peninsular State Bank 36, 268 6,012 46, 735 2,500 1,750 Peoples State Bank 109, 782 34, 227 134,108 6,000 12,000 United Savings Bank 11,090 3,403 14, 254 1,000 200 Wayne County & Home Savings Bank 75,128 32, 706 104, 735 5,000 9, 000 Eaton Rapids—Michigan State Bank 456 115 554 75 15 Edmore—Edmore State Bank 287 140 465 30 10 Elk Rapids—Elk Rapids State Bank 148 207 375 35 14 Farmington—Farmington State Savings Bank 1,007 167 1,089 40 30 Fennville—Old State Bank 303 181 558 50 15 Fenton— Commercial State Savings Bank 565 67 609 50 15 Fenton State Savings Bank 662 93 832 25 25 Flint- Citizens Commercial & Savings Bank 5,293 1,330 6,246 450 450 Genesee County Savings Bank 5,319 5,292 10, 877 500 500 Industrial Savings Bank 5,192 9,243 14, 645 1,000 300 Union Trust & Savings Bank 5,057 1,806 6,058 400 370 Flushing—Peoples State Bank.. 312 54 355 25 15 Frankenmuth—Frankenmuth State Bank 1,136 301 1,527 50 70 Fremont- Fremont State Bank . . 147 425 555 50 40 Old State Bank 536 658 1, 132 100 50 Grand Haven- Grand Haven State Bank 1,450 774 2,092 J00 100 Peoples Savings Bank 458 640 1,063 50 50 Grand Rapids- Grand Rapids Savings Bank 18,511 1,420 21, 689 500 800 Home State Bank for Savings 3,613 1,186 4,825 250 63 Kent State Bank 8, 089 10,251 20, 657 1,000 1,000 Greenville—Commercial State Savings Bank 701 450 1,391 50 50 Hart—Oceana County Savings Bank. 255 344 769 40 20 Highland Park- American State Bank 3,278 768 4,294 200 80 Highland Park State Bank 5,335 20,058 25, 651 1,000 1,500 Hillsdale—Hillsdale Savings Bank 508 1,009 1,601 100 25 Holland- First State Bank 2, 525 754 3,320 100 100 Holland City State Bank 2,760 161 3,181 100 100 Holly—First State & Savings Bank 437 1, 408 1,746 100 50 Hopkins—Hopkins State Savings Bank 223 255 480 25 5 Howell—First State & Savings Bank 431 479 1,028 75 27 Imlay City— Lapeer County Bank 323 695 1,112 50 10 Peoples State Bank _. 545 161 790 50 10 Ionia—State Savings Bank 1,590 1,419 100 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

526 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] I m nv e e n s t t s - de T p o o t s a i l ts Capital Surplus DISTRICT NO. 7—Continued MICHIGAN—continued Jackson- Central State Bank 1,207 246 1,557 100 26 Jackson State Savings Bank 1,721 237 1,944 300 70 Jonesville—Grosvenor Savings Bank 431 204 668 50 25 Lake Odessa—Lake Odessa State Savings Bank 447 440 25 25 Lakeview— Commercial State Savings Bank.. 225 146 394 25 Farmers & Merchants State Bank 119 285 388 40 8 Lansing—American State Savings Bank 6,526 2,993 9,693 750 350 Lapeer—Lapeer Savings Bank... _ 693 228 932 75 15 Lenox—Macomb County Savings Bank 301 800 1,176 50 25 Lowell—City State Bank 189 402 608 25 25 Ludington—Ludington State Bank 1,371 369 2,072 100 25 Manchester— Peoples Bank _ 340 122 470 25 25 Union Savings Bank 247 398 594 25 50 Manistee—Manistee County Savings Bank 1,197 1,857 2,978 100 100 Marcellus—G. W. Jones Exchange Bank__- 320 340 695 40 40 Marshall—Commercial Savings Bank _ 378 727 1,114 100 20 Marysville—Marysville Savings Bank 208 35 320 50 25 Mason- Farmers Bank. __ 459 94 535 50 10 First State & Savings Bank ._ 557 96 690 25 15 Midland—Chemical State Savings Bank 720 254 1,119 50 15 Milan—Milan State Savings Bank 474 43 510 25 25 Milford— Farmers State Savings Bank 166 195 358 25 12 First State Bank 853 24 921 25 13 Monroe—Dansard State Bank _ __, 1,602 731 2,584 200 40 Montague—Farmers State Bank 203 215 403 25 10 Morenci—Wakefleld State Bank 635 36 661 50 30 Mount Clemens— Citizens Savings Bank 3,214 1,289 4,616 150 150 Ulrich Savings Bank 1,626 587 2,202 100 100 Mount Pleasant— Exchange Savings Bank _ _ _ 623 254 50 33 Isabella County State Bank 963 482 1,709 60 30 Nashville- Farmers & Merchants Bank __ 571 48 664 35 50 State Savings Bank 410 66 511 30 18 New Baltimore—Citizens State Savings Bank 319 220 562 25 20 New Haven—New Haven Savings Bank 377 184 589 25 25 Niles City—Niles City Bank 502 991 1,638 100 25 Northville—Lapham State Savings Bank 386 848 1,193 50 50 Onsted—Onsted State Bank 283 40 330 25 10 Petoskey—First State Bank. 504 671 1,167 60 20 Pinconning—Pinconning State Bank._ 365 98 464 30 6 Pontiac—Pontiac Commercial & Savings Bank 12,073 1,371 15, 255 800 200 Port Huron—Federal Commercial & Savings Bank. 3,200 3,063 6,560 400 210 Redford—Redford State Savings Bank 1,373 175 1,640 100 58 Rochester—Rochester Savings Bank 246 441 763 50 25 Rogers City—Presque Isle County Savings Bank. 213 1,084 1,437 35 15 Romeo—Romeo Savings Bank 1,222 504 1,697 100 100 Royal Oak- First State Bank _ 3,229 634 4,239 200 100 Royal Oak Savings Bank 1,564 1,685 3,635 100 100 Saginaw— American State Bank 3,022 1,291 4,459 200 100 Bank of Saginaw 10,051 6,487 16,836 1,000 1,000 St. Charles—St. Charles State Bank 299 515 895 25 17 St. Clair—Commercial & Savings Bank 581 588 1,198 75 25 Saline—Saline Savings Bank 501 108 550 25 25 Saugatuck—Fruit Growers State Bank.. 833 155 898 100 50 Sebewraing—Farmers & Merchants State Bank 302 268 584 25 6 South Haven—Citizens State Bank 1,130 478 1,266 100 125 Sparta—Sparta State Bank__ 348 207 587 30 12 Spring Lake—Spring Lake State Bank r___ 124 513 25 40 Tecumseh— Lilley State Bank _ 471 182 629 40 20 Tecumseh State Savings Bank 591 200 839 50 30 Traverse City—Traverse City State Bank 2,197 1,357 3,713 200 200 Utica—Utica State Savings Bank _ 503 221 826 25 25 Vicksburg— Farmers State Bank... 117 294 439 25 First State Bank. _ _ 54 392 30 4 Warren—State Savings Bank _._ 71 965 25 75 Washington—Washington Savings Bank... 59 266 25 15 Wayne—Wayne Savings Bank... 753 1,021 1,774 50 70 Williamston— i 1 Crossman & Williams State Bank... 444 449 I 40 20 Digitized for FRWAiSllEiaRm ston State Bank I 370 ' 271 650 I 50 10 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

527 STATE BANK MEMBERSHIP [In thousands of dollars] Invest- Total ments deposits Capital Surplus DISTRICT NO. 7—Continued (See also District No. 9) Baraboo—Bank of Baraboo 808 1,193 2,245 100 50 Burlington—Bank of Burlington . 1,247 130 1,360 125 25 Clinton—Citizens Bank... _ . 351 66 445 50 10 Green Lake—Green Lake State Bank __, 332 130 457 40 20 Kewaunee—State Bank of Kewaunee 773 411 1,249 80 25 Madison—Bank of Wisconsin 4, 365 711 5,051 500 160 Milwaukee- Badger State Bank 5,259 1,249 7,057 200 200 Marshall & Ilsley Bank... 19,062 6,084 26, 351 1,250 1,500 Second Ward Savings Bank... .. 24,622 11,406 36,950 1,000 3,000 Mineral Point—Iowa County Bank 999 49 1,134 100 50 Oakfield—Bank of Oakfield 178 66 250 50 10 Platteville—State Bank of Platteville. , 597 422 1,116 50 50 Plymouth— Plymouth Exchange Bank 949 60 1,068 100 50 State Bank of Plymouth. _.. 772 285 1,054 125 32 Seneca—Farmers & Merchants State Bank .__ 408 22 536 35 18 Sheboygan—Citizens State Bank , 3,658 777 4,768 200 300 Sturgeon Bay—Bank of Sturgeon Bay 1,586 863 2, 787 100 25 Waupun—State Bank of Waupun 380 464 905 50 50 DISTRICT NO. 8 ARKANSAS Batesville— Citizens Bank & Trust Co 413 111 603 50 20 Union Bank & Trust Co 787 13 844 100 32 Blytheville—Farmers Bank & Trust Co 611 49 754 200 30 Brinkley—Monroe County Bank 309 2 354 35 16 Con way—Farmers State Bank , I 733 20 927 60 20 Dumas—Merchants & Farmers Bank , 233 6 419 50 10 Earle—Bank of Earle... _ 142 52 260 25 o F G E o n il r g l r e l e a t s t n — t d C — C i i t C t y i i z — t e iz n B e s a n n B s k a B n o a k f n E k a & st e T r r n u s A t r C ka o nsas .__ 3 4 6 7 4 8 8 2 4 1 1 5 8 3 7 8 6 8 4 4 5 1 2 5 0 5 0 0 5 4 3 0 0 Jonesboro— Bank of Jonesboro 1,307 65 1,377 200 100 Jonesboro Trust Co _ 671 30 591 100 30 Lake Village—Chicot Bank & Trust Co 352 35 310 150 20 Little Rock- American Southern Trust Co 11, 342 1,479 15, 527 1,000 220 Bankers Trust Co 5,175 689 8,518 300 110 Federal Bank <fc Trust Co 1,370 46 2,009 200 20 Union Trust Co _ 6,563 379 8,180 500 250 W. B. Worthen Co., bankers 2, 570 279 3,359 200 300 Marvell—Bank of Marvell ... 212 41 371 50 10 Newport—Arkansas Bank & Trust Co 848 16 908 100 10 North Little Rock—Twin City Bank 929 22 1,305 100 28 Paris—American Bank & Trust Co 698 26 550 50 25 Pine Bluff—Peoples Savings Bank & Trust Co 671 6 678 100 50 Russellville— Bank of Russellville. 416 451 75 38 Peoples Exchange Bank 570 111 573 100 70 Siloam Springs—Producers State Bank 142 4 142 25 4 Waldron—Bank of Waldron. _ 307 46 312 60 20 Walnut Ridge—Lawrence County Bank 697 75 582 125 31 ILLINOIS (See also District No. 7) Belleville—Belleville Savings Bank 2,588 1,155 3,679 300 300 East St. Louis—Union Trust Co 2, 564 1,928 5,174 600 200 Edwardsville—Citizens State & Trust Co._ 659 357 986 100 60 Efflngham—Effingham State Bank 693 173 864 110 25 Granite City—Granite City Trust & Savings Bank 867 330 1,260 100 25 Greenville—State Bank of Hoiles & Sons 1,104 160 1,410 120 40 Harrisburg—First Trust & Savings Bank 1, 095 527 1,885 | 150 75 Hillsboro—Montgomery County Loan & Trust Co 450 151 540 100 50 Litchfield—Litchfield Bank & Trust Co. 559 155 713 ! 100 33 Madison—Union Trust Co 177 125 282 ! 50 15 Mount Olive—Mount Olive State Bank 222 175 440 50 10 New Athens—Farmers States Bank 95 81 177 ! 25 5 O'Fallon— First State Bank 177 35 238 25 5 Palmyra—First State Bank 235 7 230 25 25 Quincy—State Savings, Loan & Trust Co 6,749 1,291 7,675 1,000 200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

528 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 8—Continued INDIANA (See also District No. 7) Evansville—Mercantile Commercial Bank. 1,421 242 2,079 200 50 Paoli—Paoli State Bank 347 4 354 40 10 KENTUCKY (See also District No. 4) Louisville— Kentucky Title Trust Co 13, 080 3,985 4,322 350 1,150 Liberty Insurance Bank. 16,183 2,600 19, 037 500 1,250 Lincoln Bank & Trust Co 5,903 592 7,313 750 250 Louisville Trust Co 4,856 2, 516 5,863 1,000 600 Owensboro—Central Trust Co 2,388 58 2,657 200 110 MISSISSIPPI Greenwood—Greenwood Bank & Trust Co 1,221 14 1,199 200 50 Grenada—Grenada Bank 5, 270 111 7,163 250 300 Pontotoc—Bank of Pontotoc -. 467 114 519 100 15 Rosedale—Bolivar County Bank 127 22 189 25 15 Ruleville—Planters Bank & Trust Co 235 8 203 50 25 MISSOURI (See also District No. 10) Bowling Green—Pike County Bank... 149 36 218 25 10 Cabool—Citizens Savings Bank 208 1 203 25 5 Festus—Citizens Bank 374 100 444 35 25 Iberia—Farmers & Traders Bank 171 4 153 25 6 Jefferson City—Exchange Bank of Jefferson City. 1, 087 579 1,895 100 25 La Plata—Bank of La Plata 246 33 337 50 10 Lexington—Lafayette County Trust Co 319 32 347 75 15 Linn Creek—Camden County Bank 139 73 204 25 35 Luxemburg—Lemay Ferry Bank. 818 610 1,519 50 30 Macon—State Exchange Bank ._ 853 367 1,263 100 40 Maplewood— Bank of Maplewood 824 524 1,347 100 25 Peoples State Bank 193 100 286 I 60 11 Marshall—Wood & Huston Bank.. _ 1,467 46 1, 575 I 100 200 Pine Lawn—Pine Lawn Bank 199 71 280 I 30 St. Louis- American Trust Co 8,509 4,168 13,540 '1,000 500 Baden Bank 1,335 1,015 2,377 200 100 Bremen Bank 2,791 3,676 6, 270 200 500 Broadway Trust Co 1,515 286 1,674 200 20 Cass Avenue Bank 1,927 3,251 4,940 200 200 Chippewa Trust Co 1,307 202 1,412 200 50 City Trust Co 1,765 380 2,145 200 50 Easton-Taylor Trust Co 1,195 530 1,756 200 50 Farmers & Merchants Trust Co 2,806 2,970 5,225 400 200 Franklin Bank 12, 486 457 13, 483 1,200 300 Grant State Bank 673 860 1,659 200 75 Gravois Bank of St. Louis County.. 358 495 888 50 25 Insurance Bank _. _ 852 274 1,557 200 50 International Bank of St. Louis 7,042 695 7,277 1,000 200 Jefferson Bank 1,975 2,452 4,524 200 200 Jefferson-Gravois Bank of St. Louis _. 2,904 1,281 4,271 200 150 Laclede Trust Co 1,279 905 2,103 300 100 Lafayette South Side Bank 15, 668 9,758 25,388 !2,000 1,000 Liberty Central Trust Co 16, 988 8,867 30,697 3,000 500 Lindell Trust Co ._ 1,096 465 1,398 I 200 40 Lowell Bank 1,661 2,194 3,833 200 100 Manchester Bank 3,894 1,375 5,460 500 100 Mercantile Trust Co 36,129 22, 456 60, 349 3,000 7,000 Mississippi Valley Trust Co 26, 626 11, 783 40, 008 3, 000 3,500 Mound City Trust Co 1,367 589 2,236 200 25 Natural Bridge Bank 1,316 656 1,798 200 60 North St. Louis Trust Co 1,806 754 2,609 200 80 Northwestern Trust Co 4,880 4, 739 500 800 Park Savings Trust Co. (Richmond Heights) 354 200 541 50 10 Savings Trust Co. (June 30, 1926) 2,045 755 3,196 200 50 Scruggs, Vandervoort & Barney Bank 1,578 1, 252 3,235 200 40 Shaw Bank . ... 348 385 822 120 14 South Side Trust Co 1,033 1, 578 3,043 200 50 Southern Commercial & Sayings Bank. 2,290 ],263 3,474 200 100 Southwest Bank of St. Louis 878 837 1,969 125 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 529 [In thousands of dollars] Loans I m n e v n es t t s - de T p o o t s a i l ts Capital Surplus DISTRICT NO. 8—Continued MISSOURI—continued St. Louis—Continued. Tower Grove Bank 6,126 1,829 7,661 400 200 United States Bank ._.__.- 6,549 1,171 7, 521 1,000 500 Water Tower Bank 999 552 1,503 200 100 West St. Louis Trust Co 1.900 1,308 3,062 200 100 St. Louis County—North Side Bank 52 99 124 25 5 Sedalia—Sedalia Trust Co _ --.. 211 236 467 100 25 Versailles—Bank of Versailles 209 2 282 40 15 Washington—Franklin County Bank 363 124 441 50 25 Webster Groves—Webster Groves Trust Co 460 1, 458 100 75 TENNESSEE (See also District No. 8) Brownsville—First State Bank _. 1,012 13 1,059 200 20 Greenfield—Greenfield Bank _. 208 22 183 30 25 Halls—Peoples Savings Bank & Trust Co 179 2 184 25 10 Henning—Bank of Henning 258 10 175 100 Memphis- Bank of Commerce & Trust Co 23, 084 2,839 29, 875 3,000 1, 500 Fidelity Bank & Trust Co 4,311 142 4,775 1,000 120 Union & Planters Bank & Trust Co 21, 318 3,033 26, 336 2,500 200 DISTRICT NO. 9 MICHIGAN (See also District No. 7) Ewen—State Bank of Ewen 250 99 363 25 20 Gladstone—Gladstone State Savings Bank 549 541 1,087 50 25 G winn—G winn State Savings Bank 160 220 365 25 25 Iron Mountain—Commercial Bank 1,670 851 2,745 100 100 Laurium—State Savings Bank 623 123 756 100 100 Menominee—Commercial Bank 925 290 1,309 100 30 Sault Ste. Marie— Central Savings Bank 617 695 1, 465 100 40 Sault Savings Bank 796 882 1,769 100 60 South Range—South Range State Bank 143 566 771 30 30 MINNESOTA Anoka—State Bank of Anoka 617 94 722 50 25 Benson—Swift County Bank '881 110 1,112 50 50 Clinton—Clinton State Bank 241 55 332 25 6 Columbia Heights—Columbia State Bank 92 203 304 25 5 Excelsior—Minnetonka State Bank... 376 89 540 25 15 Hayfield—Farmers State Bank 328 1 365 25 18 Hutchinson—Farmers & Merchants State Bank (Inc.) 347 35 359 50 13 Ihlen—Ihlen State Bank 157 3 177 25 4 Lewiston—Security State Bank 335 51 454 40 10 Luverne—Rock County Bank 210 289 507 50 25 Madelia—State Bank of Madelia_. 537 30 596 50 10 New Richland—State Bank of New Richland 513 9 593 50 25 New Ulm—Citizens State Bank 1,072 1,669 2,795 100 100 Plain view—Peoples State Bank 152 83 301 20 4 Red Wing—Security Bank & Trust Co 1,037 339 1,220 200 50 Revere—State Bank of Revere. 189 28 169 30 30 South St. Paul—Drovers State Bank 1,043 316 1,665 100 10 Spring Valley—First State Bank 419 12 459 30 40 West brook—Citizens State Bank 40 264 25 10 Winona— Deposit Bank & Trust Co 1,847 1,083 3,515 300 200 Merchants Bank 2,313 917 3,731 200 50 MONTANA Anaconda—Daly Bank & Trust Co 1,910 1,320 4,198 100 100 Belgrade—Belgrade State Bank 312 24 426 50 5 Belt—Farmers & Miners State Bank 158 72 309 50 10 Billings—Security Trust & Savings Bank 1,277 472 2,369 100 20 Boulder—Bank of Boulder. 168 84 238 75 25 B izeman— Gallatin Trust & Savings Bank 467 262 969 100 25 Security Bank & Trust Co 346 507 100 15 Broadus—Powder River County Bank 143 306 25 4 Butte— Metals Bank & Trust Co 6, 433 5,325 14, 467 400 300 Miners Savings Bank & Trust Co 697 426 1,503 200 50 East Helena—East Helena State Bank 144 50 187 50 12 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

530 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] I m nv e e n s ts t- de T p o o t s a i l t s | | Surplus DISTRICT NO. 9—Continued MONTANA—continued Ennis—Southern Montana Bank 201 187 25 25 Fromberg—Clarks Fork Valley Bank 75 134 25 3 Hamilton—Ravalli County Bank 292 538 50 13 Helena— I Montana Trust & Savings Bank 1,273 2,224 150 75 Union Bank & Trust Co 1,840 843 3,237 250 150 Joilet—Joilet State Bank 88 43 199 i 25 Opheim—First State Bank 105 1 123 25 Park City—Park City State Bank 73 190 322 25 5 Philipsburg—First State Bank 238 78 ! 330 I 50 10 Reed Point—Reed Point State Bank 44 33 | 84 25 1 Richey—First State Bank 99 27 126 ! 25 5 Saco—Farmers & Merchants State Bank 94 30 ! 147 | 25 1 Townsend—State Bank of Townsend 401 253 ! 691 I 100 13 White Sulphur Springs—Central State Bank 57 42 ! 133 | 30 Wolf Point—First State Bank 266 203 I 547 i 30 15 Worden—Farmers State Bank _ 63 49 j 165 f 25 4 NORTH DAKOTA Enderlin—Enderlin State Bank 167 118 I 308 I 82 2 i 70 ! Fullerton—Farmers State Bank SOUTH DAKOTA 896 I 51 | 1,190 75 25 Bellefourche—Butte County Bank 156 j 2 1 186 25 5 Buffalo—First State Bank 274 ' 1 ! 327 25 10 Camp Crook—Little Missouri Bank 297 92 1 445 50 8 Gregory—Commercial State Bank. _ 310 62 ! 478 25 10 Groton—Brown County Banking Co 724 548 1,684 100 20 Mitchell—Commercial Trust & Savings Bank 320 21 ! 389 25 5 Newell—Reclamation State Bank 350 66 i 519 40 10 Philip—Bank of Philip 138 22 1 134 30 Stratford—First State Bank WISCONSIN (See also District No. 7) Boyceville—Bank of Boyceville - 123 480 I 6 Ellsworth—Bank of Ellsworth 1,218 ! 25 Glen wood City—First State Bank 291 36 358 i Tomahawk—Bradley Bank 1 560 120 724 ! DISTRICT NO. 10 COLORADO Denver— Central Savings Bank & Trust Co 2,414 573 3,891 500 100 International Trust Co _ 7,885 7,109 17,150 500 500 Fort Lupton—Fort Lupton State Bank _. 181 117 510 25 15 La Junta—Colorado Savings & Trust Co 347 38 413 75 40 KANSAS Anthony—Home State Bank. 271 6 331 25 Hiawatha—Morrill & Janes Bank__ 476 16 546 100 35 Jamestown—Jamestown State Bank _ 280 17 297 25 25 Liberal—Citizens State Bank 364 73 627 50 25 Sedan—Sedan State Bank 336 12 466 30 50 Winfield—State Bank 1,179 624 2,135 125 G3 MISSOURI I (See also District No. 9) Joplin—Conqueror Trust Co 2,420 2,378 | 5,782 250 100 Kansas City—Commerce Trust Co 42, 881 31,471 1 99, 646 6,000 2,000 King City—First Trust Co.. _ 194 1 | 184 50 St. Joseph—Empire Trust Co 1,272 738 2,271 200 60 South St. Joseph—St. Joseph Stock Yards Bank.. 2.471 224 | 3, 585 350 150 NEBRASKA Aurora—Fidelity State Bank 640 ! 55 j 835 15 Broken Bow—Custer State Bank.. 309 4 I 304 15 Chappell—Chappell State Bank... 534 6 590 25 Genoa—Farmers State Bank 173 2 i 211 1 Oakland—Oakland State Bank 385 | 27 i 412 10 St. Edward—Farmers State Bank. 230 i 2 i 221 3 Western—Saline County Bank 236 i 29 ! 279 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 531 [In thousands of dollars] Invest- Total Loans ments deposits CapitalSurplus DISTRICT NO. 10—Continued NEW MEXICO (See also District No. 11) Aztec—Citizens Bank 108 ! 43 222 30 15 OKLAHOMA (See also District No. 11) Chelsea—Bank of Chelsea. _ 312 444 50 213 476 50 15 Okarche—First Bank of Okarche WYOMING 334 73 386 50 40 Evanston—Stock Growers Bank 73 17 85 40 4 Mountain view—Uinta County State Bank.. DISTRICT NO. 11 ARIZONA (See also District No. 12) 194 383 30 5 Tombstone—Cochise County State Bank LOUISIANA (See also District No. 6) 3,490 4,951 300 150 Shreveport—Continental Bank & Trust Co.. NEW MEXICO (See also District No. 10) Deming—Mimbres Valley Bank 157 146 351 50 OKLAHOMA (See also District No. 10) Valliant—Farmers State Guaranty Bank. 138 58 182 25 TEXAS Abernathy— First State Bank 227 14 246 25 10 Anson—Anson State Bank 304 4 434 50 15 A very—A very State Bank _ 61 1 63 25 Ballinger—Ballinger State Bank 235 2 304 40 10 Bedias— First State Bank 58 26 108 25 5 Beeville—Beeville Bank & Trust Co_ 236 63 369 50 32 Bishop—First State Bank 102 1 113 25 25 Bomarton—First State Bank.. 104 2 153 32 3 Brady—Farmers & Merchants State Bank 123 53 160 50 5 Bremond—First State Bank 214 61 426 50 20 Brownfield—Brownfield State Bank 238 3 358 25 25 Bryan—First State Bank & Trust Co__ 619 17 935 100 50 Canton—Texas State Bank 72 2 71 30 Canyon—First State Bank _. 177 4 356 40 9 Celina—First State Bank 114 2 154 25 Clarendon—Farmers State Bank 146 • 7 179 50 4 Clifton—Farmers State Bank _ 185 52 265 30 30 Coahoma—First State Bank 88 1 119 25 2 Commerce—State Bank of Commerce _ 240 30 263 50 10 Copperas Cove—First State Bank 81 1 89 35 7 Corsicana—First State Bank__ 905 206 1,226 200 47 Cross Plains—First State Bank.. 270 79 704 - 30 6 Crowell—First State Bank 211 14 329 30 30 Del Rio—Del Rio Bank & Trust Co 296 12 359 100 22 Denton—First State Bank 328 53 410 50 3 East Bernard—Union State Bank 210 5 243 50 13 Edgewood—Farmers & Merchants State Bank.. 103 2 80 35 3 El Paso—American Trust & Savings Bank 2,031 663 3,153 300 50 Ferris—Farmers & Merchants State Bank 228 2 282 50 35 Forney—Forney State Bank 226 2 142 25 5© Franklin—First State Bank___ 148 30 301 30 15 Frost—Citizens State Bank 192 2 146 25 50 Gatesville—Guaranty Bond Bank & Trust Co... 322 2 417 50 25 Georgetown—Farmers State Bank _ 364 404 50 50 Gonzales—Gonzales State Bank & Trust Co 427 465 75 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

532 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Loans I m nv e e n s ts t- de T p o o t s a i l ts CapitalSurplus DISTRICT NO. 11—Continued TEXAS—continued Grand Prairie—Farmers State Bank.. 67 1 60 * 25 Greenville—Citizens State Bank _ 298 232 577 100 Hallsville—Farmers State Bank 54 1 119 25 1 Hamilton—Hamilton Bank & Trust Co. 146 3 212 50 40 Hedley—Security State Bank 107 27 128 25 9 Hereford—First State Bank & Trust Co 427 54 478 50 25 Hillsboro—First State Bank. 578 8 642 150 19 Idalou—First State Bank 134 4 184 25 8 Iola—Iola State Bank 73 1 94 25 12 Jacksonville—First State Bank 648 106 915 62 40 Junction—Junction State Bank 357 114 362 100 100 Kerens—First State Bank 211 2 217 50 30 Killeen—First State Bank 149 2 251 35 18 Kirkland—First State Bank... 92 52 155 l50 4 Kosse—First State Bank 81 27 183 *25 2 Leakey—First State Bank 50 4 90 25 1 Lorain—First State Bank 200 3.2 248 30 30 Lorenzo—First State Bank._ 209 2 289 25 25 Luling—Lipscomb Bank & Trust Co 578 9 654 75 67 McGregor—First State Bank ; 220 3 213 50 11 McKinney—Central State Bank I 320 26 579 75 7 Madisonville—Farmers State Bank... I 171 292 25 25 Matador—First State Bank... __ \ 256 370 38 12 Mathis—First State Bank 90 2 117 30 20 Maypearl—Citizens State Bank j 155 2 129 25 2 Memphis—Citizens State Bank j 406 4 531 75 27 Mertens—First State Bank \ 93 1 64 25 10 Mount Pleasant—Guaranty Bond State Bank i 284 72 439 60 30 Munday—First State Bank ! 207 1 166 35 7 Murchison—First State Bauk 85 1 80 25 5 Nacogdoches—Commercial State Bank j 840 79 1,120 100 50 Normangee—First State Bank i 73 6 125 25 25 North Zulch—Guaranty Bond State Bank ...I 115 56 273 25 11 Palmer—First State Bank I 71 8 115 25 18 Pampa—Gray County State Bank-. : 337 81 612 25 3 Paris—Lamar State Bank & Trust Co ! 795 176 991 150 32 Rails—Security State Bank & Trust Co I 238 2 304 60 10 Rice—First State Bank 114 2 118 50 ' 1 Richardson—Citizens State Bank 152 1 131 35 5 Richland—First State Bank 117 2 125 25 25 Roaring Springs—First State Bank 70 8 110 25 5 Roby—First State Bank.. '• 186 18 281 40 12 Rochester—First State Bank ; 129 1 155 25 8 Rockwall—Security State Bank ; 165 9 181 50 16 Royse—First State Bank. 189 23 243 50 25 Rusk—Farmers & Merchants State Bank & Trust Co..J 189 59 354 50 3 San Antonio—Texas State Bank & Trust Co i 2,105 167 2,859 300 36 Savoy—First State Bank ! 100 6 99 25 4 Seminole—First State Bank i 110 3 160 40 Seymour—First State Bank | 187 6 195 35 Sherman—Central State Bank 263 11 353 100 10 Shiro—Farmers State Bank.__ j 113 1 148 25 15 Sinton—Commercial State Bank.. j 308 11 341 50 50 Slaton— | First State Bank j 190 3 249 40 2 Slaton State Bank ! 306 34 437 25 17 Snyder—First State Bank & Trust Co | 203 4 318 50 13 Spearman—Fidelity Bank of Commerce I 120 36 184 25 I 5 Stamford—First State Bank j 285 46 504 100 5 Sweetwater—Texas Bank & Trust Co j 526 66 992 100 100 Taft—First State Bank j 140 2 100 50 5 Tahoka—Security State Bank 84 6 137 25 Teague—Teague State Bank 317 122 484 60 "20 Tioga—First Guaranty State Bank j 93 1 77 30 5 Trenton—First State Bank | 37 1 27 25 Tyler—Peoples State Bank | 412 365 1, 124 100 "46 Waxahachie—First State Bank & Trust Co \ 830 12 945 200 24 Wellington—Wellington State Bank I 214 3 271 50 Wharton— Security Bank & Trust Co. 393 125 624 50 25 Wharton Bank & Trust Co 505 107 640 50 150 White Deer—First State Bank. 189 1 230 25 Wolfe City—First State Bank 166 3 160 50 15 Wortham—First State Bank 295 52 403 50 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBEKSHIP 533 [In thousands of dollars] Loans I m nv e e n s ts t- de T p o o t s a i l ts CapitalSurplus DISTRICT NO. 12 ARIZONA (See also District No. 11) Buckeye—Buckeye Valley Bank. 95 65 165 25 Phoenix—Valley Bank 13, 666 1,050 250 CALIFORNIA Bakersfield—Security Trust Co 9,622 1,561 10, 595 650 500 Chico—Peoples Savings & Commercial Bank 549 513 936 100 13 Downey—Los Nietos Valley Bank 795 287 1,184 50 70 Holtville—Holtville Bank 283 69 345 75 2 Kingsburg—Kingsburg Bank.__ 635 126 1,038 110 60 Long Beach—Farmers & Merchants Bank 6,733 1,905 10, 508 500 500 Los Angeles- Pacific Southwest Trust & Savings Bank 145,820 30,479 200, 957 6,900 4,500 Security Trust & Savings Bank 157,186 49, 940 233, 659 11,275 3,000 Union Bank & Trust Co 11,894 4,834 16,342 3,000 8Q0 Norwalk—Bank of Norwalk 465 357 885 50 40 Pasadena—Citizens Savings Bank 2,094 1,217 3,495 300 75 Porterville—The Home Bank 152 33 222 100 10 Quincy—Plumas County Bank 658 442 1,212 100 30 Sacra mento—Peoples Bank _ 6,095 1,397 8,013 800 184 Salinas—Monterey County Bank 2,515 1,470 4,427 276 110 San Francisco- American Bank 49,876 13, 554 70,126 5,000 1,220 Anglo-California Trust Co 45, 677 12,188 1,500 1,500 Bank of Italy 260, 300 128,838 416, 710 20,000 10,700 British-American Bank 3,475 32 2,488 1,000 63 French-American Bank 16,230 3,195 21,032 1,250 700 Italian-American Bank... 14,870 19, 372 1,500 500 Mercantile Trust Co. of California 120, 995 32,116 174, 061 5,500 4,000 Mission Bank _ 1,764 423 2,257 200 150 Mission Savings Bank _ 6,953 2,047 9,203 500 125 United Bank & Trust Co. of California 32, 225 . 5,099 42,663 4,500 696 "Wells Fargo Bank & Union Trust Co 87, 684 27, 999 117, 599 9,000 5,000 San Jose—Growers Bank 873 526 1,588 300 35 San Luis Obispo—Citizens State Bank __ 671 155 843 150 25 Santa Ana—Orange County Trust & Savings Bank.. 1,768 368 2,282 300 150 Sausalito—Bank of Saiisalito _ 731 186 1,093 100 25 Turlock—Commercial Bank of Turlock 1,085 362 1,655 75 70 IDAHO Arco—Butte County Bank _ 103 137 35 Ashton—Security State Bank _ 201 8 206 50 Cambridge—Peoples Bank (June 30, 1926) 112 2 115 25 Eagle—Bank of Eagle... _ 132 32 138 25 5 Grangeville—Bank of Camas Prairie 462 94 686 50 25 Hazelton—Hazelton State Bank 66 99 192 25 2 Idaho Falls—Anderson Bros. Bank 1,280 774 2,470 100 50 Kimberly—Bank of Kimberly _ 158 55 256 35 Mackay—W. G. Jenkins & Co 101 28 181 25 Malad City—J. N. Ireland & Co., Bankers 229 227 514 i 40 15 Meridian—Meridian State Bank __ 185 29 253 25 4 New Plymouth—Farmers State Bank (June 30, 1926). 140 32 163 i 25 Oakley—Farmers Commercial & Savings Bank 83 12 136 25 Orofino—Bank of Orofino 239 85 376 25 6 Pocatello—Citizens Bank & Trust Co 419 578 1,003 200 60 Richfield—First State Bank 74 38 130 25 5 Soda Springs—Largilliere Co., Bankers 281 667 25 13 Sugar City—Fremont County Bank _ 128 222 25 5 Twin Falls—Twin Falls Bank & Trust Co 960 409 1,855 100 20 OREGON Albany—Albany State Bank 578 327 961 50 10 Aurora—Aurora State Bank 175 103 302 25 13 Beaver ton—Bank of Beaverton 428 119 560 25 12 Central Point—Central Point State Bank 220 43 279 25 5 Dallas—Dallas City Bank. , 329 64 490 50 19 Enterprise—Enterprise State Bank 227 63 321 50 10 Fossil—Steiwer & Carpenter Bank. 346 52 384 100 7 Grants Pass—Grants Pass & Josephine Bank.. 594 390 1,008 75 30 Gresham—First State Bank 220 455 695 30 25 Haines—BankofHaines _ __ . 133 7 152 25 2 Helix—Bank of Helix 193 16 154 50 38494—27- -35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

534 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 12—Continued OREGON—continued Hillsboro—Hillsboro Commercial Bank 346 78 490 50 25 Hood River—Butler Banking Co 1,114 97 1,141 125 50 Joseph—First Bank of Joseph 174 13 149 50 13 Marshfield—Bank of Southwestern Oregon 490 320 783 100 20 Medford—Jackson County Bank 910 196 1,339 100 20 Moro—Farmers State Bank 157 7 140 45 6 Multnomah—Multnomah Commercial & Savings Bank. 140 34 172 25 5 Myrtle Point—Bank of Myrtle Point _. 169 57 238 25 8 North Portland—Live Stock State Bank 295 139 633 50 5 Oakland—E. G. Young & Co. Bank 321 127 526 50 15 Oregon City- Bank of Commerce 732 611 1, 451 200 40 Bank of Oregon City 830 1,042 2,214 150 30 Pendleton—Inland-Empire Bank _ 1,099 99 1,140 250 40 Portland- Citizens Bank 2,412 1,145 4,289 200 20 Hibernia Commercial & Savings Bank 3,696 2,444 7,341 200 100 Reedsport—First B ank of Reedsport 116 100 247 25 4 Shaniko—Eastern Oregon Banking Co 218 22 228 25 10 Stanfield—Bank of Stanfield 64 4 69 25 5 The Dalles—Wasco County Bank 523 96 651 100 5 Tillamook—Tillamook County Bank 1 279 74 406 40 10 Wasco—Bank of Wasco _ 145 2 191 25 5 Woodburn—Bank of Woodburn 456 323 829 50 10 UTAH Bingham Canyon—Bingham State Bank 352 249 657 26 20 Cedar City—Bank of Southern Utah 816 9 688 100 100 Delta—Delta State Bank (June 30,1926) 221 30 232 25 13 Ephraim—Bank of Ephraim _ 510 5 426 50 45 Fillmore—Fillmore Commercial & Savings Bank 243 2 274 50 12 Fountain Green—Bank of Fountain Green 260 48 317 25 26 Gunnison—Gunnison Valley Bank 282 4 185 50 15 Helper—Helper State Bank _ 416 166 753 50 50 Kaysville—Barnes Banking Co _ 506 19 386 50 80 Logan- Cache Valley Banking Co 1,015 371 1,514 100 50 Thatcher Bros. Banking Co 1,558 343 1,844 100 100 Parowan—Bank of Iron County 272 4 257 35 21 Payson—State Bank of Payson.. _ 401 4 345 50 Price- Carbon County Bank 278 21 392 100 10 Price Commercial & Savings Bank 582 183 816 50 70 Provo— Farmers & Merchants Bank 712 98 806 100 27 Knight Trust & Savings Bank 886 303 1,095 300 60 Richfield—James M. Peterson Bank 617 5 666 50 50 Salina—First State Bank of Salina 728 4 689 25 90 Salt Lake City- Columbia Trust Co 847 54 1,112 200 25 Tracy Loan & Trust Co 1,280 128 747 250 178 Utah Savings & Trust Co 1,281 723 1,949 300 150 Walker Bros., bankers 13, 283 4,975 23, 594 1,000 500 Spanish Fork—Commercial Bank 346 19 280 50 25 Vernal—Bank of Vernal _ _ 276 7 286 60 16 WASHINGTON Almira— Almira State Bank _ _ 217 15 209 50 13 Farmers State Bank 88 16 115 25 6 Buena—Buena State Bank _ 69 26 82 25 1 Centralia—Centralia State Bank 281 245 554 100 14 Chehalis—Coffman-Dobson Bank & Trust Co 1,271 817 2,270 150 100 Colfax—First Savings & Trust Bank of Whitman County. 450 23 529 75 15 Coulee—Security State Bank 29 22 60 25 Davenport—Lincoln County State Bank 327 50 368 50 20 Ellensburg—Farmers Bank 499 620 1,169 100 50 Everett—Bank of Commerce 901 973 2,018 150 30 Farmington—Bank of Farmington 271 20 315 25 10 Hoquiam—Lumberman's Bank & Trust Co 702 658 1,418 100 75 Kelso—Cowlitz Valley Bank 193 211 381 30 23 La Crosse— First State Bank 384 42 397 60 40 Security State Bank 75 17 73 30 4 Odessa—Farmers & Merchants Bank 334 32 380 25 15 Okanogan—Commercial Bank 234 63 268 50 10 Pine City—Pine City State Bank 99 1 90 25 4 Pomeroy—Pomeroy State Bank 854 297 1,138 50 150 Digitized foPr uFllRmAaSn—ERPu llman State Bank 586 112 769 88 10 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

535 STATE BANK MEMBERSHIP [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 12—Continued WASHINGTON—continued Puyallup— Citizens State Bank 438 256 740 50 13 Pnyalinp State Bank . „ *. __,_,.„ 314 317 664 50 5 Reardan—"Farmers State Banfe 271 51 343 50 20 Ritzville—Ritzville State Bank . 162 145 359 25 10 Rockford—Farmers & Merchants Bank 142 33 190 25 3 Rosalia—Bank of Rosalia . .- 238 52 290 25 10 St. John—Farmers State Bank 361 65 422 40 10 Selah—Selah State Bank 244 85 383 30 6 South Bend—Pacific State Bank 344 612 1,044 100 11 Spokane- 7,667 916 10,151 1,000 250 Washington Trust Co 1,370 415 1,813 200 101 Stanwood—Bank of Stanwood _ . 339 240 683 25 25 Tekoa— Citizens State Bank 158 95 292 25 7 Tekoa State Bank 267 145 438 30 16 Toppenish— Central Bank of Toppenish 231 88 345 50 10 Traders Bank . . . .. __. 170 166 383 25 15 Uniontown—Farmers State Bank 174 16 177 25 6 Walla Walla— Farmers fc Merchants Bank 659 170 922 200 40 Peoples State Bank .».. _. .. 1,249 277 1,616 100 50 Wenatchee— Columbia Valley Bank _..._. __ ._ 1,026 298 1,729 100 25 Commercial Bank & Trust Co 816 219 1,140 100 40 Wilbur State Bank of Wilbur 370 107 416 50 10 Yakima—Yakima Valley Bank ,_ 1,656 568 2,537 275 55 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

536 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK [Amounts in thousands of dollars] Banks having a capital stock of— Total $25,000 i $25,001 to $49,999 $50,000 to $99, 999 State is I! i a 55 New England: Maine 4 1,100 34, 662 New Hampshire 1 75 1,098 75 Massachusetts 26 29, 250 504,062 Rhode Island 4 8,200 261, 053 m Connecticut 4 2,900 40, 294 Middle Atlantic: New York 109 265,765 5,176, 666 1 30 321 560 11, 602 New Jersey 64 34,191 529,791 !..._ 125 2,183 Pennsylvania. _ 94 56,082 782,671 i 2 50 I 366 592 410 4,745 East North Central: Ohio 83 70, 545 1,090,517 ! 14 350 5,726 105 1,053 845 10,786 Indiana 17 5,411 61, 939 | 1 I 25 70 729 225 1,985 Illinois.. 84 61, 960 1,143,581 I 8 200 | 1, 513 880 7,757 Michigan 157 46,835 873,356 | 33 825 |16,855 635 11,169 2,115 35, 985 Wisconsin 22 4,337 97,563 j 147 1,831 390 5,907 West North Central: Minnesota 21 1,470 20,180 ! 170 2,283 100 1,082 300 3,889 Iowa -. 70 ( 6,871 92,332 i 350 I 2,912 426 3,949 1,370 14, 270 Missouri _ 63 130,010 418,154 i 125 902 105 1,006 435 4,543 North Dakota 2 1 75 378 ! 25 70 50 308 South Dakota 9 I 395 5,352 ! 100 1,380 653 125 1,635 Nebraska 240 2,852 i 75 ! 844 583 100 1,425 Kansas 355 4,402 ! 50 628 466 50 627 South Atlantic: Delaware 4,098 i 30, 908 ' Maryland. 5,625 I 73, 341 1 25 j 238 Virginia 5,830 57, 678 449 115 1,107 West Virginia 3,390 33, 628 1 25 j 190 242 325 2,147 North Carolina 5,200 67, 586 1 25 1 164 South Carolina 1,892 I 14, 734 i ; 25 1 256 223 1,716 Georgia 11,304 ! 103, 557 20 i 500 |1,926 120 505 704 3,365 Florida 1,965 i 30 284 185 2,238 East South Central: Kentucky 3,450 i 43,397 !__._ Tennessee 7,880 I 68,970 j 2 50 i 222 183 Alabama 19 4,351 I 58,477 ] 2 j 50 572 172 335 2,293 Mississippi 5 625 I 9,273 1 ! 25 189 50 203 West South Central: Arkansas 28 4,130 I 51,137 75 466 35 354 445 4,418 Louisiana _ 11 11,905 191,474 205 2,337 Oklahoma 3 125 I 1,102 I 1 25 182 100 920 Texas.._ 107 5,737 | 39,963 ! 35 ; 875 5,938 | 21 720 4,897 36 1,942 Mountain: Montana 27 2,135 I 34,666 10 250 |1,793 60 680 325 2,028 Idaho.. 19 885 ' 9,861 11 275 I2,573 110 1,068 100 892 Wyoming 2 90 471 40 85 50 Colorado... 4 1,100 21, 964 510 75 413 New Mexico 2 80 573 222 50 351 Arizona 3 1.105 14,214 25 165 383 Utah.... 25 3,196 40,310 75| 1,238 914 10 510 4,417 Pacific: Washington 43 3, 783 39,680 | 13 3!25 3,416 2,466 11 I 585 5,417 Oregon 33 2,415 29,973 I 10 i 250 2,437 3 115 1,242 10 I 525 5,561 California 31 75,161 1,441,776 !.... 4 I 250 4,069 Total |1,354 '793,524 13,656,498 212 !5, 295 57,176106 l3.fi 37,580 279 115,154 166,009 1 Includes one bank in Minnesota with capital of $20,000 and deposits of $301,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

537 STATE BANK MEMBEKSHIP SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK [Amounts in thousands of dollars] Banks having a capital stock of— 5100,000 to $200,000 to $500,000 to $1,300,000 and over 2 State $199,999 $499,999 $999,999 1 5 A "! 1 1 i A f 11 a s s 2 O G p 5 | U o 'G O G New England: Maine... 2 200 4.943 1 400 17, 882 1 500 11,837 Massachusetts 1 100 1, 960 10 2,250 55, 862 7 4,400 68, 923 8 22, 500 377,317 • Rhode Island 1 200 2,636 3 8,000 258,417 Connecticut 1 200 1,723 9 1,100 12,552 1 1, 600 26,019 Middle Atlantic: New York . . 21 2,250 41, 695 5, 700 94, 827 6,850165, 409 4?250, 350 4, 861, 873 New Jersey 21 2, 250 33, 270 24 6,150115.862 9 5,616110,766 8 20,050 267, 710 Pennsylvania 14 1,725 22, 466 36 10,472117,007 17 9,050108,194 15 34, 300 529, 301 East North Central: Ohio,.. . 172, 025 24, 029 9 2,500 48, 502 5 2,750 37. 355 19 61, 970 963, 066 Indiana 1,291 13, 847 4 2, 300i 24,919 1 1,500 20,176 Illinois 17 1,830 23, 257 21 5,700 87, 869 6 3, 750| 50,791 15 49, 600 972,394 Michigan 33 3,460 65, 449 15 4. 250 69, 219 4 2,550 57,514 15 33,000 617,165 Wisconsin 650 9,648 2 400 11,825 1 500 j 5, 051 2,250 63,301 West North Centra]. Minnesota 2 200 4 460 700 8,466 Iowa 9 975 14, 285 5 1,150 20, 355 1 600 9,701 9 2, 000 26,860 Missouri 8 845 10, 796 28 6, 300 88, 599 2 l,000| 14,399 9 21, 200 297, 909 North Dakota South Dakota 1 100 1,684 Nebraska _ Kansas . 2 225 2 681 South Atlantic: Delaware 1 100 1,334 1 998 7,435 ? 3,000 22,139 Maryland 1 100 1 075 i 3 5, 500 72,028 Virginia 2 200 1, 280 1 200 1, 657 I 1,750 11,503 2 3.500 41,682 Wrest Virginia 3 300 2,914 3 700 7,029 1, 000l 10.714 1 1,000 10,392 North Carolina 3 300 2 736 2 500 3 480 3 4,375 61, 206 South Carolina 9 994 6, 355 3 650 6,407 Georgia 11 1.200 4, 723 1,080 10, 018 2 l,200| 8,722 3 6,500 74, 298 Florida 3 350 9,561 400 1, 916 1 1,000 22,883 East South Central: T K e e n n n t e u s c s k e y e 2 1 1 1 0 5 0 0 1,0 1 5 7 9 5 2 1 2 5 0 5 0 0 6 1, , 0 9 5 7 9 9 3 1,750 29, 496 4 1 7 1 , ,0 5 0 0 0 0 67 5 J . 8 3 6 3 3 1 Alabama _ 300 2,382 600 4,918 ?, 1,000 13,110 2,000 35,030 Wes M t S is o s u is t s h i p C p e i ntral: 1 100 519 2 450 8f362 Arkansas Q 975 6,175 5 1,100 16,017 1 500 8,180 1 1,000 15,527 Louisiana 2 500 6,069 1,250 21,013 4 9,950 162,055 Oklahoma . Texas - 11 1,200 7 959 4 1,000 8.183 Mountain: Montana... 6 650 10,958 3 850 19,207 Idaho . 2 200 4,325 •1 200 1,003 Wyoming Colorado. i 2 1,000 21,041 New Mexico Arizona i 1 1,050 13,666 Utah . 5 500 5,244 4 1,050 4,903 1 1,000 23,594 Pacific: Washington 9 1,000 12,958 3 675 5,272 1 1,000 10,15] Oregon... 6 675 6,512 4 850 14,221 California ... 6 660 5,343 5 1,376 14,049 4 2,450 38,319 12 70,425 1,379,996 Total... 24726,889354,210 23560,594895, 230 9353, 864 846.944 182628,12011,299,349 * Includes 10 banks with capital in excess of $10,000,000, as follows: Massachusetts, J with capital of $12,000,000 and total deposits of $169,992,000; New York, 6, with capital of $130,200,000 and total deposits of $2,503,848,000; Ohio, 1, with capital of $22,850,000 and total deposits of $286,461,000; Illinois, 1, with capital of $15,000,000 and total deposits of $368,468,000; California, 2, with capital of $31,275,000 and total deposits of $650,369,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS GRANTED TO NATIONAL BANKS Under section ll(k) of the Federal reserve act as amended, the Federal Reserve Board has authorized the national banks listed below to exercise one or more fiduciary powers as follows: (1) Trustee. (2) Executor. (3) Administrator. (4) Registrar of stocks and bonds. (5) Guardian of estates. (6) Assignee. (7) Receiver. (8) Committee of estates of lunatics. (9) Any other fiduciary capacity in which State banks, trust companies, or other corporations which come into competition with national banks are permitted to act under the laws of the State in which the national bank is located. The numerals opposite the name of each bank, which refer to the list given above, indicate the power or powers it is authorized to exercise. Powers Powers granted granted DISTRICT Np. 1 DISTRICT NO. 1—Continued CONNECTICUT MAINE (See also District No. 2) Auburn—National Shoe & Leather 1 to 7. Bank. Ansonia—Ansonia National Bank 1 to 9. Augusta—First National Granite 1 to 9. Bristol—Bristol National Bank Ito8. Bank. Derby—Birmingham National Bank. Ito9. Bangor— Hartford- First National Bank 1,2, and 4. First National Bank. Ito9. Merchants National Bank 1 to 9. Hartford-Aetna National Bank__J 1 to 4, and 9. Bar Harbor—First National Bank 1 to 4. Meriden—Home National Bank j Ito9. Bath— j Middletown—Middletown National ! Bath National Bank | 1 to 8. Bank. | Ito9. First National Bank 1 to 8. Na B u a g n a k tu . ck—Naugatuck National i ! 1 to 4. B B e id lf d a e s f t o — rd C — ity F ir N st a ti N on a a ti l o B na a l n k B ank of | j 1 1 t t o o 8 9 . . Ne B w a n B k r . i tain—New Britain National i ! 1 to 9. Bo B o i t d h d b e a f y o rd. H arbor—First National ! ! 1, 2, 4, and New Haven— | Bank. J 6. First National Bank i I to 8. Damariscotta—First National Bank j 1,2,3,5, and Merchants National Bank j 1 to 8. of Damariscotta. ! 6. National Tradesmens Bank & ! Ito4. Fort Kent—First National Bank | 1 to 3, 5 to 9. Trust Co. i New N S e L e c w o on n H d d a o N v n a e - t n i o B n a a n l k B , a N nk . B. A | I I t t o o 9 9 . . H Le o w u F i l s t i o t r o n s n t — — N F a i t r i s o t n N al a t B io a n n a k l Bank. I i j l 1 t t o o 9 5 . , and 9. National Bank of Commerce j1 to 5. Manufacturers National Bank.. J 1 to 5, and 9. New London City National Bank j 1, 2, 3, 5, 7, N Po o r r t w la a n y d — — N orway National Bank ! j 1 to 8. N P R u o o t c r n w k a v i m c il h l — e — — C T i h ti a z m en e s s N N a a t t i i o o n n a a l l B B a a n nk k ___ 1 1 8 t t o o , a 9 9 n . . d 9 C P F o i a r r n s t a t l a l N n N d a a t i t N o io n a n a ti a l o l n B B a a l a n n B k k a nk j ! j 1 1 1 , , 2 t 2 o ,4 , 9 , a . a n n d d 4 9. First National Bank_ 1 to 9. Rockland—Rockland National Bank.! 1 to 9. Rockville National Bank Ito9. Rumford—Rumford National Bank._j 1 to 9. Torrington—Torrington National 1 to 7. Saco—York National Bank j 1 to 9. Bank. Skowhegan—First National Bank | 1 to 9. Wallingford—First National Bank... 1 to 9. Springvale—Springvale National I 1 to 9. Waterbury— Bank. j Citizens and Manufacturers Na- 1 to 9. Thomaston—Georges National Bank.! Ito3, 5, and tional Bank. i 8- Waterbury National Bank 1 to 9. Willimantic—Windham National Ito9. Van Buren—First National Bank Ito3, 5 to 7, Bank. I and 9. Winsted—Hurlbut National Bank...! Ito9. Waldoboro—Medomak National j 1 to 3, 5 to 7, Bank. ! and 9. 538 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 539 Powers Powers granted granted DISTRICT NO. 1—Continued DISTRICT NO. 1—Continued M AINE—continued MASSACHUSETTS—continued Waterville— North Attleboro—Manufacturers Na- 1 to 9. Peoples National Bank Ito9. tional Bank. Ticonic National Bank 1 to 4. Northampton— First National Bank Ito9. MASSACHUSETTS Northampton National Bank Ito9. Adams— Palmer—Palmer National Bank 1 to 9. First National Bank Ito8. Pittsfield— Gray lock National Bank 1 to 7, and 9. Agricultural National Bank. ... 1 to 9. Amherst—First National Bank Ito9. Pittsfield National Bank. 1 to 7 and 9, Attleboro—First National Bank Ito9. Plymouth- Beverly—Beverly National Bank Ito4. Old Colony National Bank. Ito5. Boston- Plymouth National Bank Ito4. Atlantic National Bank Ito9. Provincetown—First National Bank. 1 to 9. Citizens National Bank 1 to 9. Reading—First National Bank. 1 to 4. Federal National Bank Ito9. Salem—Merchants National Bank... Ito9. First National Bank 1 to 9. Shelburne Falls—Shelburne Falls 1 to 7 and 9 Merchants National Bank 1 to 9. National Bank. National Rockland Bank _ 1 to 9. Southbridge—Southbridge National Ito9. National Shawmut Bank 1 to 9. Bank. Second National Bank Ito9. Springfield— Webster & Atlas National Bank.. Ito9. Chapin National Bank.. _ Ito9. Brockton- Chicopee National Bank.. Ito9. Brockton National Bank _ Ito9. Springfield National Bank Ito8. Home National Bank 1 to 5. Third National Bank _. 1 to 9. Dedham—Dedham National Bank... Ito9. Tisbury—Martha's Vineyard Na- Ito8. Edgartown—Edgartown National 1 to 3. tional Bank. Bank. Turners Falls—Crocker National 1 to 7 and 9 Fall River- Bank. Fall River National Bank Ito9. Uxbridge—Blackstone National Bank 1 to 4. Massasoit Pocasset National 1 to 9. Waltham—Waltham National Bank. 1 to 7 and 9. Bank. Wareham—National Bank of Ware- Ito9. Metacomet National Bank 1 to 9. ham. Falmouth—Falmouth National Bank Ito9. Watertown—Union Market National Ito4. Fitchburg—Safety Fund National 1 to 9. Bank. Bank. Webster—First National Bank 1 to 4. Foxboro—Foxboro National Bank Ito9. Wellesley—Wellesley National Bank. 1 to 9. Framingham—Framingham Na- Ito9. West Newton—First National Bank_. Ito9. tional Bank. Woburn—Woburn National Bank... 1, 2, 3, 6, Gardner—First National Bank Ito9. and 9. Gloucester—Cape Ann National Ito9. Worcester- Bank. Mechanics National Bank Ito4. Great Barrington—National Ma- Ito9. Merchants National Bank Ito9. haiwe Bank. Yarmouthport—First National Bank. Ito9. Greenfield—First National Bank 1 to 9. Haverhill— NEW HAMPSHIRE Essex National Bank 4. First National Bank 1 to 4. Berlin—City National Bank 1. Merrimack National Bank Ito4. Charleston—Connecticut River Na- 1 and 4. Holyoke— tional Bank. City National Bank 1 to 4. Claremont— Holyoke National Bank Ito9. Claremont National Bank 1 to 4, Hudson—Hudson National Bank Ito9. Peoples National Bank 1. Lawrence—Bay State National Bank. Ito9. Concord— Leominster— First National Bank 1 to 9. Leominster National Bank 1 to 4. Mechanicks National Bank 1 and 4. Merchants National Bank 1 to 7 and 9. National State Capital Bank 1 and 4. Lowell— Derry—Derry National Bank 1. Appleton National B ank 1 to 9. Dover— Old Lowell National Bank 1. Merchants National Bank Ito3. Union National Bank 1 to 9. Strafford National Bank Ito4. Lynn- Franklin—Franklin National Bank... 1. Central National Bank. Ito8. Hanover—Dartmouth National Bank 1, 4 and 9 Manufacturers National Bank.._ Ito9. Keene— National City Bank 1 to 5 and 7 Ashuelot National Bank 1 and 4. Maiden—First National Bank Ito9. Keene National Bank 1 to 4. Marlboro— Laconia— First National Bank 1 to 4. Laconia National Bank 1 and 4. Peoples National Bank 1 to 9. Peoples National B ank 1 and 4. Methuen—Methuen National Bank . 1 to 8. Manchester— Milford— Amoskeag National Bank _ 1 and 4. Home National Bank Ito4. First National Bank 1 and 4. Milford National Bank Ito9. Manchester National Bank 1. Nantucket—Pacific National Bank... Ito9. Merchants National Bank _ 1, 4, and 9. New Bedford- Milford—Souhegan National Bank. __ 1 and 4. First National Bank 1 to 9. Nashua- Merchants National Bank Ito9. Indian Head National Bank Ito3. Safe Deposit National Bank Ito9. Second National Bank 1 and 4. Newburyport—Merchants National 1 to 8. Newport—Citizens National Bank... 1 and 4. Bank. Peterboro—First National Bank 1, 4, and 9. North Adams—North Adams Na- 1 to 9. Plymouth—Pemigewasset National 1 and 4. tional Bank. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

540 ANNUAL KEPOKT OF THE FEDEBAL KESERVE BOARD Powers Powers granted granted DISTRICT NO. 1—Continued DISTRICT NO. 2-Continued NEW HAMPSHIRE—continued NEW JERSEY—continued Portsmouth—New Hampshire Na- 1 and 9. Belleville—Peoples National Bank & 1 to 9. tional Bank. Trust Co. Wolfeboro—Wolfeboro National Bank 1 and 4. Belvidere—Belvidere National Bank. 1 to 8. Bloomfield—Bloomfield National Ito9. RHODE ISLAND Bank Bnooton—Boontqn National Bank... 1 to 9. Newport—Aquidneck National Ex- Ito9. Bound Brook—First National Bank.. Ito9. change Bank & Savings Co. Butler—First National Bank. Ito9. Providence- Caldwell—Citizens National Bank... 1 to 8. National Bank of Commerce Ito9. Carlstadt—Carlstadt National Bank. Ito9. Providence National Bank Ito9. Carteret—First National Bank jIto9. Clifton—First National Bank 1 to 9. Closter—Closter National Bank _ Ito9. Closter—Closter National Bank & 1 to 9. Barre—Peoples National Bank 1 to 9. Trust Co. Bellows Falls—National Bank of Bel- Ito9. Cranbury—First National Bank 1 to 4. lows Falls. Dover—National Union Bank Ito9. Bennington— East Orange—First National Bank... 1 to 9. County National Bank 1 to 9. Elizabeth- First National Bank Ito9. National State Bank. 1 to 7 and 9. Bethel—National White River Bank. 1 to 9. Peoples National Bank Ito9. Brandon—First National Bank Ito4. Englewood—Citizens National Bank. 1 to 9. Brattleboro—Vermont Peoples Na- 1 to 9. Fiemington—Flemington National , Ito9. tional Bank. Bank. | Burlington—Howard National Bank. Ito8. Freehold—National Freehold Bank- Ito9. Chelsea—National Bank of Orange Ito8. ing Co. County. Frenchtown—Union National Bank.. 1 and 4. Derby Line—National Bank of Derby 1 to 3, 5 to 9. Garfield—First National Bank _ Ito9. Line. Hackettstown—Hackettstown Na- 1 to 9. Danville—Caledonia National Bank. 1 to 9. tional Bank. Enosburg Falls—First National Bank Ito9. Hillside—Hillside National Bank Ito9. Manchester Center—Factory Point 1 to 9. Hoboken—First National Bank 1 to 4. National Bank. Jersey City- Middlebury—National Bank of Mid- Ito9. First National Bank _. 1 to 9. dlebury. Franklin National Bank 1 to 7 and9. Montpelier— Journal Square National Bank... Ito9. First National Bank Ito4. Merchants National Bank 1 to 9. Montpelier National Bank 1 to 9. Union Trust & Hudson County l to 9. Newport—National Bank of Newport 1 to 7 and 9. National Bank. Northfield—Northfield National Ito9. Kearny—First National Bank & Ito9. Bank. Trust Co. Poultney—Citizens National Bank.. Ito4. Lambertville—Lambertville National 1 to 9. Rutland— Bank. Baxter National Bank _ 1 to 7 and 9. Long Branch—Citizens National Ito9. Clement National Bank 1 to 3,5 to 7. Bank. St. Albans—Welden National Bank. Ito4. Lyndhurst—First National Bank 1 to 9. St. Johnsbury—First National Bank 1 to 6 and 9. Metuchen—Metuchen National Bank 1 to 9. Springfield—First National Bank... Ito4. Milburn—First National Bank _. 1 to 9. Windsor—State National Bank Ito3. Montclair— First National Bank & Trust 1 to 9. DISTRICT NO. 2 Co. Montclair National Bank. 1 to 9. CONNECTICUT Morristown— First National Bank Ito9. (See also District No. 1) National Iron. Bank Ito9. Newark- Brid F C g i i e r t s y p t o N N rt a a - t t i i o o n n a a l l B B a a n n k k 1 It o to 9 . 9. C Fo i C t r i e z o s e . t n H s N ill a N tio a n ti a o l n B al a n B k a n & k Trust I I t t o o 9 9 . . D N N Ri e o a d w r n g w D C e b a C f i a u i t l n e y k a r l b n — d y N a u — - a r N a n y t F a i — o i t N r i n o s F a a t n t i l r i a o s N l B t n a B a a N t n l i a o a k n B t n k i a o a n l n o k a f B l N a B o n r a k w n & a k l . k . I 1 I I I t t t t o o o o to 9 9 9 9 . . . . 9. L M N N i a a t i n e n i t t o c r i i g c o o o n h n n l a C n a a a l n o l l N B t . N S s a a t e n t & a i w k o t e . n a M r a B k l a a n B & n u k a f n a E c k s t s u e r x e r B s a N n a k - - 1 I I I t t t o o o to 4 9 9 . . . 9. So T u r t u h s N t C or o w . alk—City National Ban] •Ito4. N So o u r t t h h W Si a d r e d N N a a t t i i o o n n a a l l B B a a n n k k . & I I t t o o 9 9 . . Stamford- First Stamford National Bank.. 1 to 9. Trust Co. Peoples National Bank Ito9. New Brunswick— Ito9. National Bank of New Jersey Ito9. NEW JERSEY Peoples National Bank 1 to 9. Newton—Sussex & Merchants Na- (See also District No. 3) tional Bank. Ito9. A A l s B l b e a u n n r to y k w . n P — ark F — arm M e e r r s c h N a a n t t i s o n N al a t B io a n n a k l . I I t t o o 9 9 . . N O u c B e tl a a e n n y k — G . r o F v ir e s — t N Oc a e ti a o n n a G l r o B v a e n N k ational 1 to 9. At l l a a n n d t s ic N H at i i g o h n l a a l n d B s a — nk A . tlantic High- Ito8. Ora O ng ra e n - ge National Bank 1 1 t t o o 8 9 . . Second National Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 541 Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW JERSEY—continued NEW YORK—continued Passaic— Canton- American National Bank 1 to 9. First National Bank 1 to 9. Passaic National Bank & Trust 1 to 9. St. Lawrence County National 1 to 3, 5 to 8. Paterson— X"R>aanilKlr. First National Bank.. Ito9. CarCthaargthea-ge National Bank 1 to 9. Labor Cooperative National Bank 1 to 9. National Exchange Bank 1 to 9. National Bank of America Ito9. Catskill—Catskill National Bank 1 to 8. • Paterson National Bank Ito9. Cedarhurst—Peninsula National 1 to 9. Second National Bank 1 to 9. Bank. Totowa National Bank 1 to 5, 7 to 9.Clayton—National Exchange Bank.. 4. Perth Amboy— Cohoes—National Bank of Cohoes... 1 to 8. First National Bank_ •__ 1 to 9. Cooperstown— Perth Amboy National Bank... Ito9. First National Bank _ 1 to 9. Phillipsburg— Second National Bank. 1 to 8. Phillipsburg National Bank & 1 to 8. Corning—First National Bank & 1 to 8. Trust Co. Trust Co. Second National Bank.. 1 to 9. Cuba- Plainfield—First National Bank Ito9. Cuba National Bank 1 to 9. Pompton Lakes—First National Ito8. First National Bank.. _. 1 to 9. Bank. Delhi—Delaware National Bank 1 to 9. Rahway— Dolgeville—First National Bank 1 to 9. Citizens National Bank Ito9. Dover Plains—Dover Plains Nation- 1 to 9. Rahway National Bank 1 to 9. al Bank. Ramsey—First National Bank & 1 to 9. Dunkirk- Trust Co. Lake Shore National Bank 1 to 9. Red Bank- Merchants National Bank 1 to 8. Broad Street National Bank Ito9. Edwards—Edwards National Bank.. 4. Second National Bank & Trust 1 to 9. Elmira— Co. Merchants National Bank 1 to 7. Ridgewood— Second National Bank 1 to 9. Citizens National Bank & Trust 1 to 9. Fairport—Fairport National Bank & Ito9. Co. First National Bank. 1 to 9. Fa Ti r r ruu R sstt o c vp^ k ifo at. way—National Bank of 4. Roselle—First National Bank.. 1 to 9. Far Rockaway. Rutherford—Rutherford National 1 to 4. Floral Park—First National Bank 1 to 9. Bank. & Trust Co. Somerville—Second National Bank.. Ito4. Fonda—National Mohawk River 1 to 8. South Amboy—First National Bank. 1 to 9. Bank. South River—First National Bank... 1 to 9. Frankfort—Citizens First National 1 to 9. Summit—First National Bank _ Ito9. Bank. Sussex—Farmers National Bank 1 to 4. Fredonia—National Bank of Fre- 1 to 9. Union City—First National Bank___ 1 to 9. donia. Washington—First National Bank... 1 to 9. Freeport— West Orange—First National Bank,. Ito9. Citizens National Bank Ito9. Woodbridge—First National Bank... 1 to 9. First National Bank & Trust Co.1 to 9. Fulton—Citizens National Bank 1 to 9. NEW YORK Geneseo—Genesee Valley National Ito9. Bank. Adams—Farmers National Bank 1 to 9. Glens Falls- Albany- First National Bank,. 1 to 9. National Commercial Bank & 1 to 8. National Bank of Glens Falls 1 to 9. Trust Co. Gloversville— New York State National Bank.. 1 to 9. City National Bank 1 to 9. Amityville—First National Bank & 1 to 9. Fulton County National Bank... 1 to 9. Trust Co. Goshen—National Bank of Orange 1 to 9. Amsterdam City National Bank. 1 to 3, 5 to 8. \y ounty. Granville— Farmers National Bank 1 to 9. Farmers National Bank _. 1 and 4. First National Bank. _ 1 to 9. Washington County National 4. Bank AubCuranyuga County National Bank.. 1 to 8. Hancock—First National Bank. 1 to 9. National Bank of Auburn 1 to 9. Haverstraw—National Bank & 1 to 9. Babylon—Babylon National Bank 1 to 9. Trust Co. & Trust Co. Hempstead—First National Bank.... Ito9. Ballston Spa— Herkimer—Herkimer National Bank. 1 to 8. Ballston Spa National Bank 1 to 9. Highland Falls—First National Bank 1 to 9. First National Bank 1 to 9. Hoosick Falls- Bath—Bath National Bank 1 to 9. First National Bank. _. 1 to 9. Beacon—Fishkill National Bank 1 to 9. Peoples National Bank 1 to 8. Binghamton— Hornell—Citizens National Bank 1 to 9. City National Bank 1 to 9. Hudson- First National Bank 1 to 9. Farmers National Bank 1 to 9. Brooklyn- First National Bank 1 to 9. First National Bank. 1 to 9. Hudson Falls- Nassau National Bank... 1 to 9. Peoples National Bank I 1 to 9. Buffalo— Community National Bank. Ito9. Sandy Hill National Bank 1 to 9. Camden—First National Bank & 1 to 9. Uion— Trust Co. Ilion National Bank. 1 to 9. Canandaigua—Canandaigua Na- 1 to 9. Manufacturers National Bank... 1 to 9. tional Bank. Islip—First National Bank 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

542 ANNUAL EEPOKT OF THE FEDERAL RESEEVE BOARD Powers Powers granted ; granted 1 DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW YORK—continued NEW YORK—continued Ithaca—First National Bank 1 to 9. ; Ogdensburg—National Bank of Og- 1 to 8. Jamestown— densburg. American National Bank... 1 to 9. Olean— National Chautauqua County 1 to 8. Exchange National Bank Ito9. Bank. First National Bank 1 to 9. Kingston- Oneida—Oneida Valley National 1 to 9. First National Bank of Rondout. 1 to 9. Bank. National Ulster County Bank.... 1 to 9. Oneonta— Rondout National Bank 1 to 9. Citizens National Bank & Trust 1 to 9. State of New York National 1 to 9. Co. Bank. Wilber National Bank... 1 to 9* Lackawanna—Lackawanna National 1 to 9. i Ossining—First National Bank & 1 to 9. Bank. Trust Co. , Larchmont—Larchmont National 1 to 9. ; Oswego—Second National Bank & 1 to 9. Bank & Trust Co. Trust Co. Liberty—Sullivan County National 1 to 9. \ Ovid—First National Bank 4. Bank Owe go— Little Falls—Little Falls National 1 to 9. I First National Bank... Ito9. Bank. Owego National Bank. 1 to 9. Lockport—Niagara County National 1 to 9. Pearl River—First National Bank & 1 to 9. Lowville—Black River National 1 to 9. ! Peekskill—' Bank. Peekskill National Bank Ito9. Lynbrook—Peoples National Bank 1 to 9. Westchester County National Ito9. a. i rust oo. Bank. Mai one—Farmers National Bank 1 to 9. Perry—First National Bank.. _ 1 to 9. Mamaroneck—First National Bank 1 to 9. j Plattsburg— & Trust Co. Merchants National Bank 1 to 9. Massena—First National Bank & 1 to 9. Plattsburg National Bank & 1 to 5, 7 to 9 Trust Co. Trust Co. Middletown— Port Chester—First National Bank 1 to 9. First National Bank 1 to 9. & Trust Co. Merchants National Bank. 1 to 9. ! Port Henry—Citizens National Bank. 1 to 9. Mineola—First National Bank 1 to 9. 1 Port Jervis— Monticello—National Union Bank of 1 to 9. First National Bank Ito9. Monticello. ' National Bank & Trust Co. of Ito9. Morristown—Frontier National 4. | Port Jervis. Bank. Port Richmond—Staten Island Na- 1 to 9. Mount Kisco—Mount Kisco Na- 1 to 9. tional Bank & Trust Co. tional Bank & Trust Co. Potsdam—Citizens National Bank... 1 to 9. Mount Vernon— Poughkeepsie— American National Bank 1 to 9. Fallkill National Bank 1 to 9. First National Bank 1 to 8. Farmers & Manufacturers Na- 1 to 9. Newark—Arcadia National Bank 1 to 9. ! tional Bank. & Trust Co. Merchants National Bank _ Ito9. Newburgh— Red Hook—First National Bank 1, 2, and 3. Highland National Bank & Trust 1 to 9. Richfield Springs—First National 1 to 9. Co. National Bank of Newburgh 1 to 9. Riverhead—Suffolk County National 1 to 9. Quassaick National Bank 1 to 9. Bank. New Rochelle—National City Bank.. 1 to 9. Rockyille Center—Nassau County Ito9. New York— National Bank. Bowery & East River National 1 to 9. Rome—Farmers National Bank & 1 to 9. Bank. Trust Co. Bronx National Bank. 4. Roscoe—First National Bank Ito9. Capitol National Bank Ito8. Rye—Rye National Bank 1 to 9. Central National Bank 1 to 9. Saranac Lake—Adirondack National Ito9. Chase National Bank. Ito9. Bank. Chatham & Phenix National Ito9. Saratoga Springs—Saratoga National 4. Bank & Trust Co. Bank. Chemical National Bank Ito9. Saugerties—First National Bank 1 to 9. First National Bank Ito9. Sayville—Oystermens National Bank 1 to 9. Garfield National Bank.. 1 to 9. Scarsdale—Scarsdale National Bank Ito9. Grace National Bank 1 to 9. & Trust Co. Hamilton National Bank _ Ito9. Schenectady— Hanover National Bank 1 to 8. Mohawk National Bank 1 to 9. Harriman National Bank 1 to 9. Union National Bank Ito9. Liberty National Bank 1 to 9. Silver Creek—Silver Creek National Ito9. National Bank of Commerce Ito9. Bank. National City Bank__ 1 to 9. Southampton—First National Bank Ito8. National Park Bank Ito9. Spring Valley—First National Bank. 1 to 9. Public National Bank Ito9. Stamford—National Bank of Stam- 1 to 9. Seaboard National Bank Ito9. ford. Niagara Falls—Cataract National Ito8. Suffern—Suffern National Bank & 1 to 9. Trust Co. Norwich— Syracuse- Chenango National Bank & Trust 1 to 9. Liberty National Bank. Ito9. Co. Merchants National Bank & Ito9. National Bank & Trust Co. 1 to 9. Trust Co. Nyack—Nyack National Bank 1 to 9. Salt Springs National Bank 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIAKY POWEKS 543 Powers granted DISTRICT NO. 2—Continued DISTRICT NO. 3—Continued NEW YORE—continued | NEW JERSEY—continued Tarrytown—Tarrytown National | 1 to 3, 5 to 9. |i Merchantville—First National Bank 1 to 9. Bank. i ! & Trust Co. Troy— I Millville— Manufacturers National Bank.._| 1 to 9. Mechanics National Bank 1 to 9. National City Bank I 1 to 9. Millville National B ank Ito9. National State Bank | 1 to 9. Mount Holly—Mount Holly Na- 1 to 8. Union National Bank 1 to 9. tional Bank. United National Bank | l to 9. Ocean City— Tuckahoe—First National Bank & j 1 to 9. First National Bank 1 to 7 and 9. Trust Co. | Ocean City National Bank 1 to 9. Utica— | Paulsboro—First National Bank & Ito9. Oneida National Bank 1 to 9. Trust Co. Utica National Bank & Trust ! 1 to 9. Pitman—Pitman National Bank & Ito9. Co. Trust Co. Walton—First National Bank i 1 to 9. Pleasantville—Pleas antville National 1 to 9. Warrensburg—Emerson National | 1 to 9. Bank. Bank. | Point Pleasant Beach—Ocean Coun- 1 to 8. Warsaw—Wyoming County Na- J 1 to 9. ty National Bank. tional Bank. j Princeton—First National Bank 1 to 4. Warwick—First National Bank | 1 to 9. Salem— Watertown— ! City National Bank & Trust Co. 1 to 9. Jefferson County National Bank.! I to 9. Salem National Bank & Trust 1 to 9. Watertown National Bank I 1 to 8. Co. Waverly—First National Bank j 1 to 9. Sw^edesboro—Swedesboro National 1 to 9. Wellsville—Citizens National Bank.. 1 to 9. Bank. Westfield—National Bank of West- ! 4. Toms River—First National Bank... Ito9. field. i Trenton— Whitehall—Merchants National | 1 to 9. Broad Street National Bank Ito9. Bank. j First National Bank 1 to 9. Yonkers— I Mechanics National Bank 1 to 9. First National Bank j 1 to 9. Ventnor City—Ventnor City Na- Ito9. Yonkers National Bank & Trust I I to 9. tional Bank. Co. j Vineland—Vineland National Bank.. 1 to 9. Woodbury—First National Bank & 1 to 9. DISTRICT NO. 3 j Trust Co. Woodstown—Woodstown National DELAWARE | Bank & Trust Co. Delmar— First National Bank ! 1 to 8. PENNSYLVANIA Dover—First National Bank | 1 to 9. Laurel—Peoples National Bank 1 to 8. (See also District No. 4) Milford—First National Bank 1 to 9. Seaford—First National Bank ] to 8. Allentown— Smyrna— Allentown National Bank 1 to 9. Fruit Growers National Bank & j 1 to 4, 6 to 9. j Merchants National Bank 1 to 8. Trust Co. | ! Second National Bank Ito9. National Bank of Smyrna j 1 to 9. Altoona—First National Bank 1 to 9. Wilmington- Ambler—First National Bank 1 to 9. Central National Bank 1 to 9. Annville-Annville National Bank.... Ito9. National Bank of Delaware 1 to 9. Ardmore—Ardmore National Bank 1 to 9. Union National Bank 1 to 9. & Trust Co. Ashland—The Ashland National 1 to 9. NEW JERSEY Bank. Atglen—Atglen National Bank Ito3. (See also District No. 2) Bangor—Merchants National Bank.. 1 to 9. Bellefonte—First National Bank 1 to 9. Atlantic City— Belleville—Belleville National Bank. Ito3. Atlantic City National Bank 1 to 4. Bethlehem— Chelsea National Bank 1 to 9. Bethlehem National Bank 1 to 9. Pacific Avenue National Bank 1 to 9. First National Bank Ito9. Union National Bank I 1 to 3. Lehigh Valley National Bank 1 to 8. Blackwood—First National Bank & 1 to 9. Blossburg—Miners National Bank... 1 to 4. Trust Co. Boyertown— Bordentown—First National Bank__ 1 to 9. Farmers National Bank 1 to 9. Bridgeton—Bridgeton National Bank 1 to 9. National Bank of Boyertown 1 to 9. Burlington—Mechanics National 1 to 9. Bradford—Commercial National Ito9. Bank. Bank. Camden— j Catasauqua—National Bank of Ca- Camden National Bank __| 1 to 9. tasauqua. First National State Bank i 1 to 9. Chambersburg— Cape May—Merchants National | 4. National Bank of Chambersburg. Ito9. Bank. j Valley National Bank Ito9. Collingswood — Collingswood Na- 1 to 9. Chestertional Bank. First National Bank Ito9. Elmer—First National Bank. 1 to 9. Pennsylvania National Bank Ito9. Glassboro—First National Bank 1 to 9. Clearfield— Haddonfield—Haddonfield National 1 to 9. Clearfield National Bank 1 to 9. Bank. County National Bank 1 to 9. Medford—Burlington County Na- 1 to 9. Coatesville—National Bank of Ches- Ito9. tional Bank. | ter Valley. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

544 ANNUAL REPOKT OF THE FEDERAL RESERVE BOARD Powers granted DISTRICT NO. 3-Continued DISTRICT NO. 3—Continued I PENNSYLVANIA—continued PENNSYLVANIA—continued Columbia— Millbeim—Farmers National Bank Ito9. Central National Bank Ito9. & Trust Co. First Columbia National Bank__ Ito9. Milton—First National Bank Ito9. Dallastown—First National Bank Ito9. Montrose—First and Farmers Na- 1 to 9. Danville- tional Bank & Trust Co, Danville National B ank 1 to 9. Mount Carmel— First National Bank. Ito9. First National Bank. Ito9. Darby—First National Bank Ito9. Union National Bank Ito9. Doylestown—Doylestown National Ito9. Mount Joy- Bank & Trust Co. First National Bank Ito9. Du Bois— Union National Mount Joy Bank. Ito9. Deposit National Bank Ito9. Mountville—Mountville National Ito4. Du Bois National Bank Ito9. Bank. East Stroudsburg—Monroe County Ito9. Myerstown—Myerstown National Ito4. National Bank. Bank. Ebensburg—First National Bank ... Ito9. Nanticoke—First National Bank Ito4. Edwardsville—Peoples National Ito9. Nazareth—Nazareth National Bank__ 1 to 9. Bank. New Holland—New Holland Na- 1 to 5 and 9. Emaus—Emaus National Bank Ito9. tional Bank. Emporium—First National Bank ... 1 to 9. Newtown—First National Bank 1 to 7 and 9. Ephrata— Newville—First National Bank Ito9. Ephrata National Bank_ 1 to 9. Norristown—Peoples National Bank. 1 to 9. Farmers National Bank Ito9. Northampton—Cement National J 1 to 8. Fleetwood—First National Bank Ito9. Bank of Siegfried. Frackville—First National Bank & Ito9. Northumberland—Northumberland 1 to 9. Trust Co. National Bank. Gettysburg- Oley—First National Bank 1 to 9. First National Bank Ito9. Orwigsburg—First National Bank 1 to 9. Gettysburg National Bank. Ito9. & Trust Co. Greencastle—First National Bank 1 to 9. Oxford—National Bank of Oxford Ito9. Hamburg—First National Bank & Ito9. Patton—First National Bank 1 to 4. Trust Co. Pen Argyl—First National Bank 1 to 9. Harrisburg—Harrisburg National I 1 to 9. Philadelphia— j Bank. Broad Street National Bank !Ito7. Hazleton— Central National Bank \4. First National Bank | 1 to 9. Corn Exchange National Bank...!1 to 9. Hazleton National Bank, Ito9. Drovers and Merchants National 1 to 9. Honesdale—Honesdale National 1 to 9. Bank. Bank. Eighth National Bank 1 to 9. Honeybrook—First National Bank... 1 to 9. Franklin Fourth Street National 1 to 9. Houtzdale—First National Bank Ito9. Bank. Hummelstown—Hummelstown Na- 1 to 9. Kensington National Bank 1 to 3,5 to 9. tional Bank. Manayunk National Bank Ito9. Huntingdon- Market Street National Bank 1 to 7 and 9. First National Bank 1 to 9. National Bank of Commerce Ito9. Union National Bank Ito8. National Bank of Germantown__ Ito8. Jenkintown—Citizens National 1 to 7 and 9. National Bank of North Phila- 1 to 9. Bank. delphia. Johnstown—First National Bank Northern National Bank \ Ito9. Kane—First National Bank Ito9. Overbrook National Bank I Ito9. Kutztown—Kutztown National Bank Penn National Bank Ito9. Lancaster— Philadelphia-Girard National i 1 to 9. Conestoga National Bank.. Ito9. Bank. | Fulton National Bank 1 to 9. Quaker City National Bank jIto9. Lancaster County National Bank Ito9. Second National Bank |1 to 9. Langhorne—Peoples National Bank Ito9. Southwark National Bank ii 1 to 8. & Trust Co. Southwestern National Bank 1| Ito8. Lansdale—First National Bank. 1 to 9. Tenth National Bank |1 to 9. Lebanon- Textile National Bank j| 1 to 9. First National Bank I 1 to 9. Tradesmen's National Bank jI Ito9. Lebanon National Bank __! 1 to 9. Union National Bank jIto9. Peoples National Bank ! Ito9. L L L e e e w w hi i i g s s h t b o t u o w r n g n — — — C U R i n t u i i z s o s e n e n l s l N N a N t a i a o t t i i n o o a n n l a a l B l B a B n a a k n n k k . J . . I I I t t t o o o 9 9 9 . . . Phili M F p i s r o b s s u t h r a N g n — a n t o i o n n a N l a B ti a o n n k a _ l _ B ank I j j i I I t t o o 9 9 . . Lititz—Farmers National Bank Ito4. Phoenixviile— j Lock Haven—First National Bank... Ito9. Farmers and Mechanics Na- ;1 to 9. Luzerne—Luzerne National Bank jIto9. tional Bank. \ Mahanoy City— i National Bank of Phoenixviile... I to 9. First National Bank 1 to 9. Pittston—First National Bank jIto9. Union National Bank... ! 1 to 8. Pittstown—Liberty National Bank...* Ito9. Manheim— ! Plymouth—First National Bank_._..| 1 to 9. Keystone National Bank j 1 to 9. Port Allegany—First National Bank. Ito9. Manheim National Bank ...I 1 to 9. Pottstown— Marietta—Exchange National Bank _| 1 to 4. Citizens National Bank Ito9. Mauch Chunk—Mauch Chunk Na- I 1 to 9. National Bank of Pottstown Ito9. tional Bank. | National Iron Bank Ito9. Maytown—Maytown National Bank.! 1 to 4. Pottsyille—Miners National Bank... Ito9. Mechanicsburg—Second National j 1 to 9. Reading- Bank. j Farmers National Bank Ito9. Media—First National Bank 1 to 9. National Union Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWKRS 545 Powers Powers granted granted DISTRICT NO. 3—Continued DISTRICT NO. 4—Continued PENNSYLVANIA—continued KENTUCKY—continued Reading—Continued. Harlan—Harlan National Bank 1 to 5, 7 to 9. Penn National Bank Ito4. Lexington—Phoenix National Bank Ito9. Reading National Bank Ito9. & Trust Co. Red Lion—Red Lion First National Ito9. Middlesboro—National Bank of 1 to 5, 7 to 9. Bank Middlesboro, Schuylkill Haven—First National Ito9. Mount Sterling- Bank. Mount Sterling National Bank... Ito4. Scranton— Traders National Bank 1 to 5, 7 to 9. First National Bank Ito9. Newport- Third National Bank Ito9. American National Bank 1 to 5, 7 to 9. Union National Bank Ito9. Newport National Bank 1 to 5, 7 to 9. Shamokin—Market Street National 1 to 9. Paintsville—Paintsville National Ito5,7to9. Bank. Bank. Shickshinny—First National Bank.. 1 to 3, 5 to 8. Paris—First National Bank 1 to 5, 7 to 9. Shippensburg— Pine ville—Bell National Bank _ 1 to 5, 7 to9. First National Bank__ Ito9. Richmond—Madison National Bank 1 to 5, 7 to 9. Peoples National Bank. _ Ito9. & Trust Co. Smethport—Grange National Bank Ito9. Somersetof McKean County. Farmers National Bank 1 to 5, 7 to 9. Souderton—Union National Bank Ito9. First National Bank Ito9. Spring City—National Bank of Ito9. Williamsburg—First National Bank.. Ito4. Spring City. Winchester—Clark County National 1 to 5,7 to 9. State College—First National Bank.. Ito9. Bank. Stroudsburg— First National Bank.. Ito9. OHIO Stroudsburg National Bank Ito9. Sunbury—First National Bank Ito9. Akron—National City Bank 1, 4, and 9, Tamaqua— Alliance—Alliance First National Ito9. First National Bank Ito9. Ashtabula—National Bank of Ashta- 1 to 7 and 9. Tamaqua National Bank__ Ito9. bula. Tioga —Grange National Bank Ito4. Athens- Topton—National Bank of Topton... Ito4. Athens National Bank 1 to 7 and 9. Towanda—Citizens National Bank.. Ito9. Bank of Athens, N. B. A 1 to 7 and 9. Tyrone- Bellaire—First National Bank 1, 4, and 9. Blair County National Bank Ito9. Bradford—First National Bank 1 to 7 and 9. Farmers & Merchants National Ito9. Cadiz—Fourth National Bank 1 to 7 and 9. Bank. Canton—First National Bank... 1 to 7 and 9. Watsontown—Farmers National Ito9. Cincinnati— Bank. Atlas National Bank 1,4, and 9. Waynesboro— Citizens National Bank & Trust 1 to 7 and 9. Citizens National Bank.. Ito9. Co. \ First National Bank & Trust Co Ito9. Fifth-Third National Bank 1, 4, and 9. West Chester- First National Bank 1 to 7 and 9. First National Bank Ito9. Lincoln National Bank Ito9. National Bank of Chester County Ito9. Second National Bank 1 to 7 and 9, West Grove—National Bank & Trust 1 to 9. Cleveland— Co. Brotherhood of Locomotive En- Ito9. Wilkes-Barre— gineers Cooperative National Second National Bank Ito9. Bank of Cleveland. Wyoming National Bank Ito9. Central National Bank 1 to 7 and 9. Williamsport— National City Bank 1 to 7 and 9. First National Bank Ito9. Columbus- Williamsport National Bank Ito9. City National Bank of Commerce-1 to 7 and 9. Wrightsville—First National Bank... Ito9. Commercial National Bank 1 to 7 and 9. York- 1 First National Bank 1 to 7 and 9. Central National Bank _ _ Ito9. Huntington National Bank Ito7. First National Bank Ito9. Ohio National Bank 1 to 7 and 9. Industrial National Bank of Ito4. Coshocton—Commercial National 1, 4, and 9. West York. Bank. Western National Bank.. _ Ito9. Dayton- York National Bank Ito9. Merchants National Bank & 1,4, and 9. York County National Bank Ito9. Trust Co. Third National Bank & Trust 1 to 7 and 9. DISTRICT NO. 4 Co. Winters National Bank & Trust 1, 4, and 9. KENTUCKY Co. East Liverpool—First National Bank. 1 to 7 and 9. (See also District No. 8) Findlay—American-First National 1 to 7 and 9. Ashland— Fo x" s R> to aan r n i K a t — . Union National Bank L . o 7 and 9. Ashland National Bank. 1 to 5,7 to 9. Greenville—Second National Bank.. 1 to 7 and 9. Second National Bank Ito5,7to9. Hamilton- Third National Bank.. 1 to 5,7 to 9. First National Bank & Trust 1,4, and 9. Brooksville—First National Bank Ito4. Co. Covington— Second National Bank Ito9. First National Bank Ito5,7to9. Hillsboro—Merchants National Bank 1 to 7 and 9. Liberty National Bank _ Ito9. Lancaster—Fairfleld National Bank.. 1 to 7 and 9. Cynthiana—National Bank of Cyn- 1 to 5, 7 to 9. Lebanon—Lebanon-Citizens National 1 to 7 and 9. thiana. Georgetown—Georgetown National 1 to 5,7 to 9. x>aIlK oC 1 rilSt UO. Ito9. Bank. LLiomraai—n—ONlda tNioantaiol nBaal nCki toyf CBoanmkmerce.1 to 7 and 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

546 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 4—Continued DISTRICT NO. 4—Continued OHIO—continued PENNSYLVANIA—continued Mansfield—Citizens National Bank 1 to 4 and 9. & Trust Co. Monessen— Marietta— First National Bank & Trust Co. Ito9. Central National Bank 1, 4, and 9. Peoples National Bank Ito8. Citizens National Bank 1 to 7 and 9. New Brighton—Union National Bank- Ito9. First National Bank 1,4, and 9. New Castle- Marion—National City Bank & 1 to 7 and 9. Citizens National Bank Ito9. Trust Co. First National Bank , 1 to 9. Mount Vernon—The Knox National I 1 to 7 and 9. New Kensington—First National Ito8. Bank. | Bank. Newark—Franklin National Bank, i 1 to 7 and 9. Oakmont—First National Bank New Philadelphia—Citizens National 1 to 7 and 9. Oil City- Bank. First National Bank _ Ito9. Norwood—Norwood National Bank_.j 1 to 9. Oil City National Bank Ito9. Painesville—Painesville National ! 1 to 7 and 9. Pittsburgh- Bank. | Bank of Pittsburgh, N. A Ito9. Piqua— ! Columbia National Bank Ito9. Citizens National Bank & Trust \ 1 to 9. Diamond National Bank Ito9. Co. ! Duquesne National Bank Ito9. Piqua National Bank & Trust | 1 to 7 and 9. Farmers' Deposit National Bank- 4 and 9. Co. I First National Bank _ Ito9. Portsmouth—First National Bank..., 1 to 7 and 9. Highland National Bank Ito9. Ravenna—Second National Bank i 1,4, and 9. Mellon National Bank ^ Ito9. St. Clairsville—First National Bank..; 1 to 7 and 9. Monongahela National Bank 4. Sandusky—Third National Exchange i 1 to 9. National Bank of America at Ito9. Bank. Pittsburgh. Springfield—Mad River National i 1 to 7 and 9. Second National Bank of Alle- Ito9. Bank. gheny. Steubenville— | Third National Bank Ito9. NationalExchange Bank & Trust i 1 to 7 and 9. Union National Bank Ito9. Co. Punxsutawney—Punxsutawney Na- 1 to 9. Peoples National Bank i 1 to 7 and 9. tional Bank. Tiffin— : Sharon- Commercial National Bank , 1 to 7 and 9. First National Bank Ito9. Tiffin National Bank | 1 to 7 and 9. McDowell National Bank Ito4. Toledo—First National Bank I 1 to 7 and 9. Merchants and Manufacturers Ito9. Troy—First Troy National Bank & I 1 to 7 and 9. National Bank. Trust Co. ; Titusville—Second National Bank__ Ito9. Urbana—Champaign National Bank.! 1 to 7 and 9. Uniontown— Warren— National Bank of Fayette Ito9. Second National Bank 1 to 7 and 9. County. Western Reserve National Bank..' 1 to 7 and 9. Second National Bank 1 to 9. Wilmington—Clinton County Na- 1 to 7 and 9. Uniontown National Bank & 1 to 9. tional Bank & Trust Co. i Trust Co. Youngstown— ! Vandergrift—Citizens National Bank. Ito9. Commercial National Bank 1 to 7 and 9. Warren— First National Bank __; 4. Citizens National Bank Ito9. Mahoning National Bank | 4 and 9. j Warren National Bank Ito9. Zanesville— Washington— First National Bank 1, 4, and 9. Citizens National Bank 1 to 3, 5 to Old Citizens National Bank 1 to 7 and 9. 7, and 9. First National Bank „___ 1 to 9. PENNSYLVANIA Waynesburg — Citizens National Ito9. Bank. (See also District No. 3) Zelienople—Peoples National Bank.. 1 to 4. Blairsville—First National Bank 1 to 9. Brookville—Jefferson County Na- Ito9. WEST VIRGINA Br t o io w n n a s l v i B ll a e— nk S . econd National Bank- 1 to 9. (See also District No. 5) Butler— Elm Grove—First National Bank Ito9. Farmers National Bank _. 1 to 9. New Cumberland—First National 1. Merchants National Bank. Ito9. Bank. Canonsburg—First National Bank... 1 to 9. Sistersville—Union National Bank... 1 to 9. Ellwood City—First National Bank.. Ito9. Wheeling- Erie- National Bank of West Virginia. _1 to 9. First National Bank Ito9. National Exchange Bank Ito9. Second National Bank... Ito9. Ford City—First National Bank & 1 to 9. DISTRICT NO. 5 Trust Co. Franklin—Lamberton National Bank. 1 to 9. DISTRICT OF COLUMBIA Greensburg—First National Bank Ito9. Washington— Greenville— Commercial National Bank Ito8. First National Bank Ito9. District National Bank Ito8. Greenville National Bank Ito9. Farmers & Mechanics National Ito8. Grove City- Bank. First National Bank Ito9. Federal-American National Bank. Ito8. Grove City National Bank 1 to 9. Franklin National Bank ___Ito8. Knox—Clarion County National Ito9. Lincoln National Bank Ito8. Bank. National Bank of Washington.... Ito8. MeKeesport—First National Bank__ Ito9. National Metropolitan Bank Ito8. Meadville—New First National Bank. 1 to 5,7 to 9. Riggs National Bank Ito8. Meyersdale—Citizens National Bank. Ito9. Second National B ank 1 to 8. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PIDUCIABY POWEKS 547 Powers Powers granted granted DISTRICT NO. 5-Continued DISTRICT NO. 5—Continued MARYLAND SOUTH CAROLINA—continued Baltimore— Columbia- Citizens National Bank Ito9. Columbia National Bank 1 to 9. Drovers & Mechanics National Ito9. National Loan & Exchange Bank.1 to 9. Bank. Elloree—First National Bank 1 to 9. Farmers & Merchants National Ito9. Gaffney—Merchants & Planters Na- 1 to 9. Bank. tional Bank. Merchants National Bank Ito9. Greenville— National Bank of Balitmore Ito9. First National Bank 1 to 9. Western National Bank Ito9. Peoples National Bank.. 1 to 4. Cumberland- Woodside National Bank 1 to 9. First National Bank Ito9. Holly Hill—First National Bank 1 to 3, 5 to 9 Second National Bank... Ito9. Orangeburg— Easton—Easton National Bank Ito9. Edisto National Bank 1 to 9. Frederick- Orangeburg National Bank 1 to 3 and 5. Farmers & Mechanics National Ito4. Rock Hill—National Union Bank 1 to 9. Bank. Spartanburg— Frederick County National Bank. Ito9. Central National Bank 1 to 4. Hagerstown— First National Bank 1 to 9. First National Bank Ito9. Springfield—First National Bank 5. Second National Bank Ito9. Sumter—National Bank of Sumter... Ito9. Hyattsville—First National Bank... Ito4. New Windsor—First National Bank. Ito4. VIRGINIA Pocomoke City—Citizens National Ito9. Bank. Abingdon—First National Bank 1 to 9. Rising Sun—National Bank of Rising 1 to 4. Alexandria- Sun. Alexandria National Nank Ito9. Rockville—Montgomery County Na- 1 to 3. Citizens National Bank.. Ito4. *- tional Bank. First National Bank 1 to 4. Salisbury—Salisbury National Bank. 1 to 9. Appalachia—First National Bank 1. Snow Hill—First National Bank 1 to 9. Bedford—Peoples National Bank 1 to 9. Towson—Towson National Bank 1 to 9. Blackstone—First National Bank 1 to 9. Bristol—Dominion National Bank... 1 to 9. NORTH CAROLINA Charlottesville— National Bank of Charlottesville. 1 to 9. Asheboro—First National Bank 1 to 9. Peoples National Bank 1 to 9. Asheville— Chase City—First National Bank 1 to 9. American National Bank 1 to 9. Chatham—First National Bank 1 to 3. National Bank of Commerce Ito9. Clifton Forge- Charlotte- Clifton Forge National Bank 1 to 4. Charlotte National Bank ... ... 1 to 9. First National Bank 1 to 6 and9. Commercial National Bank 1 to 9. Covington— Merchants & Farmers National 1 to 9. Citizens National Bank Ito9. Bank. Covington National Bank 1 to 4. Union National Bank 1 to 9. Crewe—First National Bank 1 to 9. Concord—Concord National Bank... 1 to 9. Danville— Durham—First National Bank 1 to 9. American National Bank 1 to 9. Elizabeth City—First & Citizens 1 to 9. First National Bank _. 1 to 9. National Bank. Emporia— Gastonia—First National Bank 1 to 9. Citizens National Bank 1 to 9. Goldsboro—Wayne National Bank... 1 to 9. First National Bank 1 to 9. Graham—National Bank of Ala- 1 to 9. Fairfax—National Bank of Fairfax... 1 to 9. mance. Farmville— High Point—Commercial National 1 to 4. First National Bank 1 to 9. Bank. Peoples National Bank 1 to 9. Monroe—First National Bank .. 1 to 9. Fredericksburg—Planters National I to 9. Mooresville— First National Bank 1 to 9. Bank. New Bern—National Bank of New 1 to 4. Hampton— Merchants National Bank, 1 to 9. Ox B fo e r r d n — . First National Bank 1 to 4. xi cir F ri i b r o s n t u N ur a g t — ional Bank 1 to 9. Raleigh- National Bank of Harrisonburg.. 1 to 9. Citizens National Bank 1 to 9. Rockingham National Bank Ito9. Commercial National Bank. ._ 1 to 9. Leesburg— Reidsville—First National Bank 1 to 9. Loudoun National Bank... 1 to 9. Rocky Mount—Planters National 1 to 9. Peoples National Bank 1 to 9. Bank. Lexin gton— Salisbury—First National Bank 1 to 9. First National Bank _ 1 to 9. Snow Hill—National Bank of Snow 7. Rockbridge National Bank _ Ito9. Hill. Lovingston—First National Bank of 1 to 9. Wadesboro—First National Bank 1 to 9. Nelson County. Wilmington—Murchison National 1 to 9. Lynchburg—Lynchburg National 1 and 4. Winston-Saiem—Farmers National 1 to 9. Bank. Bank & Trust Co. MarFtii nrssvt iNllea—tional Bank _ 1 to 9. Peoples National Bank 1 to 4. SOUTH CAROLINA Newport News—First National Bank. Ito9. Charleston- XINT onrrifOnillKr— 1 to 4. National Bank of Commerce Atlantic National Bank,.. 1 to 9. Seaboard National Bank Ito9. Peoples First National Bank Ito9. Virginia National Bank... Ito9. South Carolina National Bank. . 1 to 9. Norton—First National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

548 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 5-Continued DISTRICT NO. 6—Continued VIRGINIA—continued ALABAMA—continued Orange—Citizens National Bank 1 to 9. Athens—First National Bank 1. Petersburg—Virginia National Bank. 1 to 3. Bessemer- Phoebus—Old Point National Bank. Ito9. City National Bank 2. Portsmouth- First National Bank in Bessemer. 1 to 8. American National Bank 1. Birmingham—First National Bank.. 1 to 9. First National Bank 1 to 9. Cullman—Leeth National Bank. 1 to 4. Pulaski— Florence—First National Bank 1 to 8. Peoples National Bank 1 to 9. Gadsden— Pulaski National Bank Ito9. First National Bank _ 1 to 3. Richmond- Gadsden National Bank 1 to 8. American National Bank 1 to 4. Greenville—First National Bank 1 to 3 and 5. Central National Bank 1 to 9. Mobile—First National Bank 1 to 8. First & Merchants National Bank. 1 to 9. Montgomery— Roanoke— Alabama National Bank 1 to 9. American National Bank__ 1 to 4. First National Bank... 1 to 9. Colonial National Bank 1 to 9. Fourth National Bank 1 to 9. First National Exchange Bank... Ito9. Oneonto—First National Bank 1 to 3,5 to 9. Rocky Mount—Peoples National 1 to 4. Opelika— Bank. Farmers National Bank 1 to 9. Salem—Farmers National Bank _ 1 to 9. First National Bank _. 1 to 7. South Boston- Oxford—First National Bank... 1 to 8. Boston National Bank 1 to 9. Piedmont—First National Bank 1 to 3. Planters & Merchants First Ito9. Selma—City National Bank 1 to 8. National Bank. Talladega—Talladega National Bank. 1 to 9. Staunton— Troy- Augusta National Bank 1 to 9. Farmers and Merchants National 1 to 7 and 9. National Valley Bank 1 to 9. Bank. Strasburg — Massanutten National 1 to 9. First National Bank Bank. Tuscaloosa— Warren ton—Fauquier National Bank. Ito9. City National Bank _. 1 to 8. Waynesboro—First National Bank... 1 to 9. First National Bank j 1 to 8. Winchester- Wetumpka—First National Bank 1 to 9. Farmers & Merchants National 1 to 9. Bank. FLORIDA Shenandoah Valley National 1 to 9. Bank. Bartow—Polk County National Bank 1 to 9. Bradentown—First National Bank... 1 to 4. WEST VIRGINIA Brooksville—First National Bank 1 to 8. Daytona Beach—First National Bank.1 to 9. (See also District No. 4) De Funiak Springs—First National 1 to 8. Beckley—Beckley National Bank Bank. Bluefield— Deland—First National Bank. 1 to 9. First National Bank 1 to 9. Jacksonville- Flat Top National Bank 1 to 9. Atlantic National Bank 1 to 9. Charleston— Barnett National Bank 1 to 9. Charleston National Bank 1 to 9. Florida National Bank 1 to 9. Citizens National Bank 1 to 9. Lake City—First National Bank 1 to 9. Kanawha National Bank 1 to 9. Miami- Clar E M ks m b er u p c r i h g re a — n N ts a t N io a n t a io l n B a a l n B k a nk __ I 1 t t o o 4 9 . . Mia F m C i i i r t s y t B N N ea a a c t t i h i o o — n n a a M l l i B B am a a n n i k k B . & . e . a T c r h u s F t i C rs o t . 1 1 I t t t o o o 9 9 9 . , . Union National Bank 1 to 4. National Bank. Fairmont—National Bank of Fair- 1 to 9. Orlando—First National Bank 1 to 9. mont. Panama City—First National Bank.. 4. Fairview—First National Bank 1 to 4. Pensacola—Citizens & Peoples Na- 1 to 9. Grafton—First National Bank Ito9. tional Bank. H M u a n d t i i s n o g n t — on M — a F d i is rs o t n N N a a ti t o io n n a a l l B B a a n nk k _ . _ .. I 1 t t o o 9 4 . . St. A Fi u r g st u N st a in ti e o - nal Bank 1 to 9. Martinsburg—Old National Bank 1 to 9. St. Augustine National Bank 1 to 9. Parkersburg— St. Petersburg- F Pa ir r s k t e N rs a b t u io rg n a N l a B ti a o n n k al .. Bank 1 1 t t o o 9 9 . . A C l e e n x t a ra n l d e N r a N ti a o t n io al n a B l a B n a k n k & Trust 1 1 t t o o 9 9 . . St. M Se a c r o y n s d — N F a ir t s io t n N a a l t B io a n n a k l Bank I 1 t t o o 9 9 . . Fi C rs o t . National Bank 1 to 4. Welch- Sanford—First National Bank 1 to 9. M Fi B c rs D a t n o N k w . a e t l i l o na C l o B u a n n t k y National 1 1 t t o o 9 9 . . Tam E F p i x r c a s h - t a N ng at e i o N n a a t l i o B n a a n l k Bank 1 1 t t o o 9 8 . . Williamson- Winter Haven—Snell National Bank. 1 to 3, 5 to 7. First National Bank 1 to 9. National Bank of Commerce 1 to 9. GEORGIA DISTRICT NO. 6 Athens—National Bank of Athens 1 to 4. Atlanta- Atlanta and Lowry National 1 to 8. ALABAMA Bank. Albertville — Albertville National 1 to 9. Fourth National Bank 1 to 9. Bank. Fulton National Bank 1 to 9. Anniston— Barnesville—First National Bank 1 to 8. Anniston National Bank... 1 to 7 and 9. Brunswick—National Bank of Bruns- 1 to 9. Commercial National Bank 1 to 5,7 and 9. wick. Digitized for FRFAirsSt ENRat ional Bank 1 to 8. Carrollton—First National Bank 1 to 9. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDXJCIAEY POWERS 549 Powers Powers granted granted DISTRICT NO. 6—Continued DISTRICT NO. 6—Continued GEORGIA—continued TENNESSEE—continued Dalton—First National Bank 1 to 5. Nashville— Dawson—Dawson National Bank 1 to 3, 5 to 9. American National Bank_ 1 to 9. Elberton—First National Bank 1 to 9. Broadway National Bank 1 to 7 and 9 Fitzgerald- Fourth & First National Bank... 1 to 8. Exchange National Bank _ 1 to 4. Tennessee-Hermitage National 1 to 4. First National Bank 1 to 4, 6, 7, Bank. and 9. Springfield—First National Bank 2, 3, 5 to 7, La Grange—La Grange National 1 to 8. and 9. Bank. Tullahoma—Traders National Bank . 1 to 9. Louisville—First National Bank 1 to 9. Macon—Fourth National Bank 1 to 4. DISTRICT NO. 7 Quitman—First National Bank 1 to 8. Thomasville—First National Bank... 1 to 9. ILLINOIS Winder—Winder National Bank 1 to 9. (See also District No. 8) LOUISIANA Amboy—First National Bank 1 to 9. (See also District No. 11) Aurora— American National Bank. 1 to 9. Hammond—Citizens National Bank. 1 to 9. Aurora National Bank Ito9. La Fayette—First National Bank 1 to 9. First National Bank 1 to 9. Lake Charles— Merchants National Bank __ 1 to 9. Calcasieu National Bank of 1 to 9. Old Second National Bank 1 to 9. Southwest Louisiana. Batavia— First National Bank 1 to 9 Batavia National Bank 1 to 9. New Orleans—Whitney-Central Na- 1 to 9. First National Bank _ _. 1 to 8. tional Bank. Belvidere— First National Bank 1 to 8. MISSISSIPPI Second National Bank 1 to 4. Blue Island—First National Bank___ 1 to 9. (See also District No. 8) Bushnell—First National Bank 1 to 9. Cambridge—Farmers National Bank. 1 to 9. Biloxi—First National Bank. 1 to 4. Canton- Canton—First National Bank.. 1 to 4. Canton National Bank 1 to 9. Gulfport—First National Bank 1 to 8. First National Bank 1 to 8. Hattiesburg—Commercial National 1 to 9. Casey—First National Bank 1 to 4. Bank. Charleston—National Trust Bank 1 to 9. Jackson— Chicago- Capital National Bank 1 to 9. Austin National Bank 1 to 9. First National Bank 1 to 0. Calumet National Bank 1 to 9. Jackson State National Bank 1 to 7 and 9. First National Bank of Englewood. 1 to 4. Laurel- Guardian National Bank 1 to 9. Commercial National Bank <fe 1 to 9. Irving Park National Bank. 1 to 9. Trust Co. Jefferson Park National Bank 1 to 9. First National Bank . 1 to 9. Lawndale National Bank 1 to 9. Meridian—First National Bank 1 to 8. Mutual National Bank 1 to 9. Natchez—Britton and Koontz Na- 1, 6, and 7. National Bank of the Republic- 1 to 9. tional Bank. Washington Park National Bank- 1 to 9. Vicksburg— Chicago Heights—First National Ito9. National City Savings Bank & ] to 9. Bank. Trust Co. Chillicothe—First National Bank 1 to 9. National Peoples Savings Bank 1 to 9. Danville— Trust Co. First National Bank ___ Ito9. Yazoo City—Delta National Bank... 1 to 9. Palmer National Bank 1 to 9. Second National Bank 1 to 8. TENNESSEE Decatur— Citizens National Bank.. 1 to 9. (See also District No. 8) Milliken National Bank 1 to 4. National Bank of Decatur Ito4. Bristol—First National Bank 1 to 9. Dixon—Dixon National Bank 1 to 9. Chattanooga—First National Bank.. 1 to 9. Elmhurst—First National Bank 1 to 9. Clarksville—First National Bank 1. El Paso— Copperhill—First National Bank of 1 to 3, 5 to 8. First National Bank 1 to 9. Polk County. Woodford County National Ito9. Dickson—Citizens National Bank.. 1 to 8. Bank. Fayetteville— Evanston—City National Bank 1 to 9. Elk National Bank _ 1 to 3 and 5. Freeport— First National Bank 1 to 3, 5 to 9. First National Bank_._ Ito9. Gallatin—First and Peoples National 1 to 9. Second National Bank 1 to 9. Bank Galesburg— Greenville—First National Bank 1 to 9. First National Bank . Ito9. Harriman—Harriman National Bank. 1 to 9. Galesburg National Bank 1 to 9. Johnson City—Tennessee National 1 to 9. Havana—Havana National Bank 1 to 9. Bank. Henry—First National Bank.. 1 to 7. Kingsport—First National Bank 1 to 7 and 9. Joliet— Knoxville— First National Bank ..... 1 to 4. City National Bank 1. Joliet National Bank 1 to 9. Holston National Bank 1 to 9. Will County National Bank.. 1 to 9. Union National Bank.. 1 to 7 and 9. Kankakee—City National Bank 1 to 4. McMinnville—Peoples National 1 to 3, 5 to 8. Kewanee—First National Bank 1 to9. Bank. La Salle—La Salle National Bank 1 to 4. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

550 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued ILLINOIS—continued INDIAN A—continued Libertyville— Hartford City—First National Bank. 1 to 9. First National Bank. 1 to 9. Indiana Harbor— Lake County National Bank 1 to 9. Indiana Harbor National Bank 1 to 9. Lincoln—Lincoln National Bank 1 to 9. of East Chicago. Macomb—Union National Bank 1 to 9. United States National Bank I to 9. Marengo—First National Bank 1 to 9. Indianapolis— Marseilles—First National Bank Ito4. Fletcher American National 1 to 7 and 9. Mattoon—National Bank of Mattoon_ 1 to 9. Bank. Monticello— First National Bank Ito9. Indiana National Bank 1 to 9. Moweaqua— First National Bank 1 to 3. Knightstown—Citizens National 1 to 3, 5 to 7, Ottawa—National City Bank__ _ 1 to 9. Bank. and 9. Peoria— Kokomo— Central National Bank _ Ito9. Citizens National Bank Ito4. Commercial National Bank 1 to 8. Howard National Bank 1 to 9. Merchants & Illinois National 1 to 9. I La Fayette— Bank. First-Merchants National Bank.. 1 to 8. Princeton—Citizens National Bank.. 1 to 3, 5 to8. National Fowler Bank 1 to 8. Riverside— First National Bank 1 to 9. La Porte—First National Bank 1 to 4. Rockford— Liberty—Union County National 1 to 3. Forest City National Bank 1 to 9. Bank. Manufacturers National Bank— 1 to 9. Linton—First National Bank.... I to 7. Rockford National Bank Ito4. Logansport— Security National Bank Ito9. City National Bank 1 to 8. Swedish-American National Bank. Ito9. I First National Bank 1 to 8. Third National Bank 1 to 8. Lowell— Savanna—First National Bank 1 to 8. | First National Bank in Lowell.-. 1 to 7. Springfield—Illinois National Bank.. 1 to 9. Lowell National Bank. _. 1 to 8. Sycamore—First National Bank 1 to 9. Marion— Taylorville—First National Bank Ito9. | First National Bank. 1 to 9. Waukegan— Marion National Bank 1 to 9. First National Bank 1 to 9. Martinsville— First National Bank... 1 to 7. Waukegan National Bank... 1 to 9. Michigan City— First National Bank.. _ 1 to 9. INDIANA Merchants National Bank 1 to 9. Mishawaka—First National Bank 1 to 4. (See also District No. 8) Monrovia—First National Bank 1 to 4. Attica—Central National Bank 1 to 9. I Monterey—First National Bank 1 to 3, 5 to 9. Auburn—City National Bank I to 9. Montezuma—First National Bank... 1 to 8. Batesville—First National Bank 1 to 4. Montpelier—First National Bank 1 to 9. Bloomington—First National Bank.. 1 to 7 and 9. Ij Mulberry—Citizens National Bank.. 1 to 9. Brazil— | Muncie—Delaware County National 1 to 9. Citizens National Bank. 1 to 7. | Bank. First National Bank 1 to 4. | New Carlisle—First National Bank., i to 3. Riddell National Bank 1 to 9. j Peru—First National Bank 1 to 9. Brookville— 11 Remington—Farmers National Bank. 1 to 3, 5 to 8. Franklin County National Bank. Ito4. jj Richmond— National Brookville Bank 1 to 4. 11 First National Bank 1 to 9. Cambridge City—First National Ito8. | Second 2si ational Bank I to 4. Bank. !| Union National Bank... 1 to 9. Clay City—First National Bank 1 to 9. i Rising Sun—National Bank of Rising 1 to 9. Clinton—First National Bank 1 to 9. Sun. Cloverdale—First National Bank 1 to 9. Rochester—First National Bank 1 to 5, 7, and Columbia City—First National Ito9. 9. Bank. Rock ville—Rock ville National Bank. 1 to 4. Columbus—First National Bank 1 to 9. 11 Rush ville— Connersville—First National Bank... 1 to 9. !| American National Bank i to 9. Crawfords ville— j Rush County National Bank i 1 to 4. Citizens National Bank 1 to 4. | Rushville National Bank ! 1 to 4. First National Bank 1 to 9. II Russiaville—First National Bank ! 1 to 3. Dana—First National Bank 1 to 3. i Shelb.yville— Delphi—Citizens National Bank 1 to 9. is Farmers National Bank 1 to 9. Dublin—First National Bank 1 to 3. First National Bank 1 to 9. Dyer—First National Bank Ito4. ' Sheridan— Edinburg—Farmers National Bank.. Ito4. Farmers National Bank _._ 1 to 8. Elkhart—First National Bank 1 to 9. i First National Bank _. 1 to 4. Elwood—First National Bank 1 to 8. South Bend— Fort Wayne- I! First National Bank 1 to 4. First National Bank 1 to 8. Merchants National Bank.. 1 to 9. Lincoln National Bank 1 to 8. Swayzee—First National Bank 1 to 9. Old National Bank 1 to 9. Terre Haute— Frankfort—American National Bank. 1 to 8. First National Bank 1 to 9. Franklin- McKeen National Bank__ 1 to 9. Citizens National Bank 1 to 8. Terre Haute National Bank 1 to 9. Franklin National Bank.. 1 to 4. Thorntown—Home National Bank. _ 1 to 8. Gary—National Bank of America 1 to 9. Tipton—Citizens National Bank 1 to 4. Goodland—First National Bank 1 to3, 5 to9. Wabash—Farmers & Merchants Ito4. Goshen—City National Bank 1 to 9. National Bank. Greencastle—First National Bank 1 to 9. Westport—First National Bank 1 to 9. Greensburg—Third National Bank... Ito9. Whiteland—Whit eland National 1 to 4. Hammond—Citizens National Bank. 1 to 9. I Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDTJOIAKY POWERS 551 Powers Powers granted granted DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued INDIANA—continued IOWA—continued Whiting—First National Bank... 1 to 7. Oskaloosa—OskaloosaNational Bank. Ito3. Wilkinson—Farmers National Bank.. Ito3. Paullina—First National Bank 1 to 7 and 9. Winamac—First National Bank Ito8. Peterson—First National Bank Ito4. Red Oak—First National Bank Ito4. IOWA Remsen—First National Bank Ito8. Rippey—First National Bank 1,2,3, 5 to 8 Akron—First National Bank ._ Ito9, Rockwell City—Rockwell City Na- Ito9. Arlington—American National Bank. Ito3. tional Bank. Aurelia—First National Bank 1 to 9. Royal—Citizens National Bank Ito3. Bancroft—First National Bank 2,3,5 to 7. Ruthven— First National Bank Ito8. Boone—First National Bank 1 to 7 and 9. Sheffield—First National Bank Ito9. Buffalo Center—First National Bank. Ito9. Sibley—First National Bank Ito3. Burlington—Merchants National Ito9. Sidney—National Bank of Sidney Ito9. Bank Sioux City- Cedar Falls—Cedar Falls National 1 to 7 and 9. First National Bank Ito9. Bank. Security National Bank Ito9. Cedar Rapids- Sioux National Bank _ Ito9. Cedar Rapids National Bank Ito9. Toy National Bank _. Ito9. Merchants National Bank Ito4. Sioux Rapids—First National Bank.. Ito3. Charles City—Commercial National 1 to 9, Spencer—First National Bank Ito9. Bank. *••} fc^i »*. • Stanton—First National Bank Ito8. Charter Oak—First National Bank__ 1,2,3, and 5. Storm Lake—Citizens National Bank. Ito9. Cherokee—First National Bank 1 to 9. Story City—First National Bank Ito9. Clarence—First National Bank Ito4. Thornton—First National Bank. ... Ito9. Clinton- Tipton—City National Bank Ito8. City National Bank... Ito4. Washington—Washington National Ito8. Merchants National Bank L> Ito5. Bank. Colfax—First National Bank Ito3,5to9. Waterloo— Coon Rapids—First National Bank. _ Ito3, Commercial National Bank Ito4. Council Bluffs- First National Bank Ito7. City National Bank... Ito8. Pioneer National Bank Ito4. First National Bank Ito9. Waverly—First National Bank Ito4. Cresco—First National Bank 1 to 9. Webster City- Davenport—First National Bank ' 1 to 9. Farmers National Bank _. 1 to 4. Decorah—National Bankof Decorah. Ito9. First National Bank Ito9. Des Moiiaes—Des Moines National Ito8. Bank. MICHIGAN Dubuque— Consolidated National Bank Ito9. (See also District No. 9) First National Bank Ito9. Eldon—First National Bank..... Ito9. Ann Arbor—First National Bank Ito9. Eldora—First National Bank. Ito9. Battle Creek- Elkader—First National Bank _. Ito9. Central National Bank 1 to 4. Everly—First National Bank. Ito7. City National Bank._ Ito8. Fairfield—First National Bank .. Ito8. Old National Bank 1 to 9. Fonda—First National Bank Ito4. Bay City—First National Bank Ito9. Fontanelle—First National Bank_ .. Ito9. Bent on Harbor— Fort Dodge—Fort Dodge National 1 to 8, American National Bank 1 to 9. Bank. Farmers & Merchants National Ito9. Gladbrook—First National Bank Ito3. Bank & Trust Co. Graettinger—First National Bank._ _ Ito9. Birmingham—First National Bank.. 1 to 4. Greenfield—First National Bank 1 to 5, 7 to 9. Boyne City—First National Bank Ito3. Grinnell—Citizens National Bank. _ Ito9. Cold water— Griswold—Griswold National Bank.. 1 to 7 and 9. Coldwater National Bank _ 2, 3, 5, and 8 Hampton—Citizens National Bank.. 1 to 9. Southern Michigan National Ito9 Harlan—Harlan National Bank Ito8. Bank. Hawarden—First National Bank 1,2, 3, 5 to 8. Detroit—National Bank of Com-1 to 8. Humboldt—First National Bank Ito4, merce. Independence- Flint—First National Bank 1 to 4. First National Bank 1 to 4 Grand Rapids- Peoples National Bank. .. 1 to 9, Grand Rapids National Bank Ito9. Indianola—First National Bank 1 to 3. Old National Bank _. Ito9. Jewell Junction—First National Bank 1 to 9. Hillsdale—First National Bank Ito4. Kanawha—First National Bank Ito3. Ionia—National Bank of Ionia. 1 to 9. Keokuk—Keokuk National Bank 1 to 9. Jackson- Knoxville—Knoxville National Bank 1 to 9, National Union Bank Ito9. & Trust Co. Peoples National Bank... Ito9. LeMars—First National Bank ... 1 to 3, 5 to 9. Kalamazoo— Linn Grove—First National Bank. Ito9, First National Bank. 1 to 9. Manchester—First National Bank... Ito4. Kalamazoo National Bank... 1 to 9. Marengo—First National Bank Ito4. Lansing— Marshalltown—First National Bank. 1 to 3,, Capital National Bank. _. 1 to 4. Mason City—First National Bank... Ito9. City National Bank Ito9. Montezuma—First National Bank... 1 to 4. Lapeer—First National Bank 2,3,5, and 8 Muscatine—First National Bank. .. Ito9. Monroe—First National Bank. Ito9. Newell—First National Bank Ito9. Muskegon— Odebolt—First National Bank 1 to 4. Hackley National Bank 1 to 7 and 9 Oelwein—First National Bank Ito7. Union National Bank... Ito9. Orange City—Orange City National 1 to 9, Petoskey—First National Bank 1 to 4. Bank. Pontiac—First National Bank 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

552 ANNUAL EEPORT OF THE FEDEEAL BESEEVE BOAED Powers Powers granted granted DISTRICT NO. 7—Continued DISTRICT NO. 8—Continued MICHIGAN—continued ARKANSAS—continued Port Huron—First National Bank in Ito4. Hot Springs—Arkansas National 1 to 9. Port Huron. Bank. Quincy—First National Bank 2,3,5, and 8. Lake Village—First National Bank. Ito9. Rochester—First National Bank Ito4. Little Rock—Exchange National 1 to 9. Saginaw—Second National Bank Ito8. Bank. Traverse City—First National Bank. Ito3. Marianna—Lee County National Ito4. WISCONSIN Mena—First National Bank 1. Newport—First National Bank 1 to 8. (See also District No. 9) Paragould—First National Bank Ito9. Paris—First National Bank Ito9. Antigo— Pine Bluff- First National Bank _. 1 to 8. National Bank of Arkansas. Ito9. Langlade National Bank 1 to 3, 5 to 8. Simmons National Bank.. 1 to 9. Appleton—Citizens National Bank.. 1 to 9. Texarkana—State National Bank Ito9. Beaver Dam—Old National Bank Ito4. Van Buren—First National Bank Ito9. Brillion—First National Bank Ito8. Chilton—Chilton National Bank Ito9. ILLINOIS Clinton ville—First National Bank... Ito4. Darlington—First National Bank Ito8. (See also District No. 7) Edgarton—First National Bank _ Ito8. il?i1 rotnxiu C /.I o ^Q m 1U n m juT e ao r cr c —t ial National Bank Ito8. Alto A n lton National Bank 1 to'9. First-Fond du Lac National Bank- Ito8. Citizens National Bank 1 to!9. Hartford—First National Bank 1 to 7 and 9. Anna—First National Bank 1 to!9. Janesville—First National Bank Ito4. Belleville- Lake Geneva—First National Bank.. Ito9. First National Bank Ito8. Manitowoe—First National Bank in 1 to 9. St. Clair National Bank 1 to 9. Manitowoc. Benld—First National Bank of Benld. 1 to 3, 5 to 8 Marinette—First National Bank Ito9. Breese—First National Bank 1 to 9. Marshfield—American National Ito9. Bunker Hill—First National Bank... Ito9. Bank. Cairo—Cairo National Bank Ito9. Milwaukee- Carlinville—Carlinville National 1 to 9. Marine National Bank _ Ito9. Bank. National Bank of Commerce Ito9. Carlyle—First National Bank 1 to 9. National Exchange Bank Ito9. Car mi—National Bank of Carmi 1 to 9. Monroe—First National Bank 1 to 9. Centralia—Old National Bank Ito9. Neenah — National Manufacturers Ito3. Edwardsville — Edwardsville Na- 1, 2, 3, 5, 6, 7, Bank. tional Bank. and 9. Neillsville—First National Bank Ito9. Emngham—First National Bank 1 to 9. Oconomowoc—First National Bank.. 1 to 9. Highland—First National Bank. Ito9. Oshkosh—City National Bank Ito4 Jacksonville—Ayers National Bank.. 1 to 4. Platteville—First National Bank Ito9. Lawrence ville—First National Bank. 1 to 9. Racine- Lebanon—First National Bank Ito9. First National Bank... Ito9. Marion—First National Bank Ito9. Manufacturers National Bank... 1 to 9. Mascoutah—First National Bank 1 to 9. Ripon— Metropolis—City National Bank 1 to 4. American National Bank Ito9. Millstadt—First National Bank Ito9. First National Bank.. 1 to 9. Mount Carmel—American National Ito9. Shawano—Wisconsin National Bank. Ito8. Bank. Sheboygan—Security National Bank. 1 to 9. Mount Sterling—First National Bank 1 to 4. Sparta—Farmers National Bank 1 to 9. Murphysboro—First National Bank. 1 to 8. Stevens Point- Nashville— Citizens National Bank __ Ito9. Farmers & Merchants National Ito9. First National Bank 1 to 8. Bank. Viroqua—First National Bank. Ito9. First National Bank Ito9. Waukesha— Nokomis—Nokomis National Bank.. Ito3. National Exchange Bank Ito4. O'Fallon—First National Bank 1 to 9. Waukesha National Bank _ Ito8. Pittsfield—First National Bank Ito9. Wausau— Quincy—Quincy - Ricker National 1 to 9. American National Bank 1 to 9. Bank & Trust Co. First National Bank... 1. Sparta—First National Bank 1 to 3, 5 to 7 West Bend—First National Bank 1 to 9. Vandalia—First National Bank Ito8. Wisconsin Rapids—First National Ito9. Bank. INDIANA DISTRICT NO. 8 (See also District No. 7) ARKANSAS Bedford—Bedford National Bank 1 to 3, 5 to 9 Bicknell—First National Bank. Ito9. Batesville—First National Bank 1 to 7 and 9. Cannelton — Cannelton National 1 to 3, 5 to 8 Bentonville—First National Bank... Ito9. Bank. Corning—First National Bank 1 to 9. Evansville— El Dorado—First National Bank 1 to 9. National City Bank 1 to 9. Fayetteville—First National Bank... 1 to 9. Old National Bank Ito9. Fordyce—First National Bank. Ito9. Fort Branch—Farmers & Merchants Ito9. Fort Smith- National Bank. City National Bank Ito9. Jeffersonville—First National Bank.. Ito9. First National Bank... Ito9. Linton—First National Bank Ito7. Merchants National Bank 1 to 9. Mitchell—First National Bank 1 to 5. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWEES 553 Powers Powers granted granted DISTRICT NO. 8—Continued DISTRICT NO. 8—Continued INDIANA—continued MISSOURI Mount Vprr.on— (See also District No. 10) Mount Vernon National Bank & 1 to 9, Trust Co. Boonville—Boonville National Bank. 1 to 9. Old First National Bank 1 to 3. Carrollton—First National Bank 1 to 8. New Albany—New Albany National 1 to 9. Chillicothe—First National Bank 1 to 9. Or "jt l Rf e a a naK n n s t. —National Bank of Orleans. . 1. ooiu B n o iu o i n a e — County National Bank... Ito4. Poseyville—Bozeman Waters Na- 1, 3, 5, 6, 8, Exchange National Bank Ito4. tional Bank. and 9. Hannibal—Hannibal National Bank- Ito9. Princeton— Jefferson City—First National Bank.. Ito9. Farmers National Bank . 1,2,3,5, 6,7, Kirksville—Citizens National Bank.. Ito8. and 9. Pierce City—First National Bank.._. Ito9. Peoples American National Bank. Ito8. Ridgeway—First National Bank Ito9. Rockport—First National Bank 1 to 9, St. Charles—First National Bank 1 to 9. S eym Fi r o s u t r — National Bank 1 to 9. OQ-tf. JUT B O A o Un1 a Si t c~ m ~" en's National Bank 1 to 9. Seymour National Bank.. Ito9. First National Bank _ 1 to 4. Sullivan—National Bank of Sullivan. 1 to 7 and 9. Merchants' Laclede National Ito4. i en C v i ^ t i i t z y e — ns National Bank Ito4. Na "jt> t R i a o anKn n t a . l Bank of Commerce Ito9. Tel ICity National Bank... 1 to 9. Security National Bank, Savings Ito9. Vevay—First National Bank Ito9. & Trust Co. Vincennes—First National Bank %to9. State National Bank. 1 to 9. Wadesville—Farmers National Bank. Ito9. Sedalia— Citizens National Bank 1 to 4. KENTUCKY Third National Bank 1 to 3, 5 to 7. Springfield—Union National Bank... 1 to 4. (See also District No. 4) Unionville—Marshall National Bank. 1 to 3, 5 to 7. Versailles—First National Bank 1 to 3. Bowling Green—American National 1 and 4. Bank. TENNESSEE Clay—Farmers National Bank 1 to 9. Columbia—First National Bank & 1 to 3,5 to 8. (See also District No. 6) lrust uo. Danville— Dyersburg—First-Citizens National Ito9 Citizens National Bank 1 to 9. Bank. Farmers National Bank. 1 to 8. Jackson—National Bank of Com- Ito9. Elizabethtown—First-Hard in Na- 1 to 9. merce. tional Bank. Memphis—First National Bank Ito9. Frankfort—State National Bank 1 to 9. Glasgow—Farmers National Bank-.. 1 to 4. DISTRICT NO. 9 Harrodsburg—First National Bank_. 1 to 9. Henderson—Henderson National Ito9. MICHIGAN Bank. Hopkinsville—'First National Bank.. 1 to 9. (See also District No. 7) Lawrenceburg— Anderson National Bank 1 to 3, 5 to 9. Hancock—First National Bank 2, 3, 5, and 8 Lawrenceburg National Bank 1 to 8. Houghton—Houghton National Lebanon— Bank 1 to 9. Citizens National Bank 1 to 9. Iron Mountain—United States Na- 2,3,5, and 8. Marion National Bank 1 to 6. tional Bank. Louisville— Manistique—First National Bank Ito4. Citizens Union National Bank... 1 to 9. Marquette— First National Bank 1 to 9. First National Bank & Trust Co. 1 to 9. Louisville National Bank 1 to 9. Union National Bank.. 1 to 9. National Bank of Kentucky 1 to 9. Menominee—First National Bank... Ito9. Mayfield—First National Bank 1 to 8. Munising— First National Bank of 2,3,5, and 8. Morganfield—Morganfield National 1 to 4. Alger County. M j" u oR r ao r nn a Kl y r. —First National Bank 1 to 9. 1\| Ggc F iU ir .1 s 1 t 6 6 N — ational Bank 2,3,5, and 8. Owensboro—First National Bank Ito9. Negaunee National Bank — Ito3. sr aci C uc i e t i y u National Bank 1 to 9. MINNESOTA First National Bank Ito3. Princeton- Albert Lea—First National Bank 1 to 8. Farmers National Bank Ito9. Argyle—First National Bank 1, 2, 3, 5, 6, First National Bank 1 to 3, 5 to 7, 7, and 9. and 9. Austin- MISSISSIPPI Austin National Bank Ito9. First National Bank ltoS. (See also District No. 8) Bemidji—First National Bank Ito9. Blooming Prairie—First National 1,2,3, and 5 \j oiu C m o D lu U m S— bus National Bank 1 to 9. Ch B a a tf n ie k l . d—First National Bank Ito5. First National Bank 1 to 9. Duluth— Greenville—First National Bank Ito4, American Exchange National 1 to 8. Greenwood—The First National 1. Bank. Bank. City National Bank 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

554 ANNUAL REPORT OF THE FEDERAL RESERYE BOARD Powers Powers granted granted DISTRICT NO. 9—Continued DISTRICT NO. 9—Continued MINNESOTA—continued SOUTH DAKOTA Duluth—Continued. Aberdeen—Aberdeen National Bank 1 to 4. First National Bank 1 to'S. Arlington—First National Bank Ito4. Minnesota National Bank 1 to 9. Canton—First National Bank 1 to 9. Northern National Bank... 1 to 9. Deadwood—First National Bank Ito9. Eveleth—First National Bank 1 to 3, 5 to 9. Flandreau—First National Bank 1 to 3. Fairmont—Martin County National 1 to 9. Lead—First National Bank 1 to 9. Bank. Miller—First National Bank Ito9. Faribault—Security National Bank.. 1 to 9. Rapid City—First National Bank.... Fergus Falls- Sioux Falls— Fergus Falls National Bank 1 to 8. Minnehaha National Bank 1 to 8. First National Bank Ito9. Security National Bank Ito4. Hutchinson—Farmers National 1 to 9. Spearfish—American National Bank 1 to 3. Bank. Vermilion—First National Bank 2 to 9. Lanesboro—First National Bank Ito3. Watertown— Little Falls- Citizens National Bank 1 to 9. American National Bank Ito9. First National Bank 1 to 9. First National Bank 1, 2, 3, 5, 6, 8, and 9. WISCONSIN Minneapolis— Metropolitan National Bank Ito9. (See also District No. 7) M C id o la . nd National Bank & Trust 1 to 8. Ashland— Northwestern National Bank 4. Ashlantf National Bank... Ito9. Northfield—Northfield National Ito9. Northern National Bank.. 1 to 7 and 9. Bank. Barron—First National Bank. 1 to 3. Owatonna—First National Bank 1 to 9. Chippewa Falls— Park Rapids—First National Bank__ 1 to 9. First National Bank. Ito9. Red Wing- Lumbermens National Bank I 1 to 9. First National Bank Ito9. Menomonie— First National Bank... 1 to 9. Goodhue County National Bank. Ito9. Superior— Rochester—First National Bank Ito9. First National Bank 1 to 7. St. Paul—Twin Cities National Bank Ito9. United States National Bank Ito9. St. Peter—First National Bank 1 to 8. Sauk Center—First National Bank... 1 to 9. DISTRICT NO. 10 Stewartsville—First National Bank... 1. Stillwater—First National Bank Ito9. COLORADO Truman—Truman National Bank Ito9. Boulder— Virginia—American Exchange Na- Ito3, 5 to 8. Boulder National Bank 1 to 4. tional Bank. Citizens National Bank 1 to 7. Waseca—Farmers National Bank 1 to 9. National State Bank 1 to 9. Welcome—Welcome National Bank.. Ito8. Brighton—First National Bank 1 to 4. Windom— First National Bank 1 to 9. Brush—First National Bank 1 to 3, 5 to 8, Winona— Canon City—Fremont County Na- 1 to 4. First National Bank 1 to 9. tional Bank. Winona National B ank 1 to 9. Center—First National Bank Ito4. Colorado Springs- MONTANA Colorado Springs National Bank. 1 to 9. Exchange National Bank. 1 to 9. Billings- First National Bank Ito9. Midland National Bank Ito9. Craig—Craig National Bank.. 1 to 9. Montana National Bank Ito9. Denver— Bozeman—Commercial National 1 to 4. American National Bank. Ito7. Bank. Broadway National Bank 1 to 9. Dillon—First National Bank 1 to 7 and 9. Colorado National Bank.. 1 to 9. Great Falls- Denver National Bank.... Ito9. First National Bank Ito9. First National Bank 1 to 9. Great Falls National Bank 1 to 4. Stock Yards National Bank 1 to 9. Kalispell— First National Bank 1 to 4. United States National Bank Ito9. Lewistown—National Bank of Ito9. Durango—Burns National Bank Ito7. Missoula— Eagle—First National Bank of Eagle Ito4. First National B ank ...... 1 to 7 and 9. County. Western Montana National Ito8. Englewood—First National Bank 1 to 4. Bank. Fort Collins- First National Bank 1 to 4. NORTH DAKOTA Fort Collins National Bank 1 to 9. Poudre Valley National Bank 1 to 7 and 9. Bismarck—First National Bank 1 and 9. Fort Morgan- Ellendale—First National Bank Ito4. First National Bank 1 to 4. Fargo— Morgan County National Bank.. 1 to 9. First National Bank Ito9. Glenwood Springs—First National 1 to 3, 5 to 7. Merchants National Bank Ito9. Bank. Security National Bank... _ 1 to 9. Grand Junction—Grand Valley Na- Ito9. Forman—First National Bank Ito3. tional Bank. Grand Forks—First National Bank... Ito9. Greeley— Jamestown—James River National 1 to 3, 5 to 7, First National Bank Ito9. Bank. and 9. Greeley Union National Bank Ito9. Minot— Gunnison—First National Bank Ito9. First National Bank Ito9. Hugo—First National Bank. Ito3. Union National Bank 1 to 7 and 9. Idaho Springs—First National Bank. 1 to 4. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 555 Powers Powers granted granted DISTRICT NO. 1 a—Continued DISTRICT NO. 10—Continued COLORADO—continued MISSOURI—continued Lamar—Lamar National Bank. Ito9. Kansas City—Continued. Las Animas—First National Bank... Ito9. Stockyards National Bank 1 to 9. Longmont—American National Ito9. Traders National Bank 1 to 7 and 9. Bank. Maryville—First National Bank 1 to 5. Loveland—Loveland National Bank. 1 to 4, 6, 7. Neosho—First National Bank. 1 to 9. Mancos—First National Bank 1 to 9. Plattsburg—First National Bank 1 to 9. Montrose—Montrose National Bank. 1 to 9. St. Joseph— Ordway—First National Bank 1. American National Bank 1 to 4. Trinidad- Burns National Bank. 1 to 4. First National Bank 1 to 3. Tootle-Lacey National Bank Ito8. Trinidad National Badk 1 to 9. NEBRASKA Walsenburg—First National Bank... 1 to 9. Belden—First National Bank 1 to 3, 5 to 9. KANSAS Butte—First National Bank... _ 1 to 3. Anthony- Columbus—First National Bank Ito9. Citizens National Bank 1 to 8. Decatur—First National Bank _ 1 to 3. First National Bank 1 to 4. Emerson—First National Bank 1 to 8. Atchison— City National Bank 1 to 9. Grand Island—First National Bank.. 1 to 9. CofTeyville— Lincoln— Condon National Bank. 1 to 3, 5 to 9. First National Bank _. 1 to 9. First National Bank 1 to 3 and 5. Lincoln State National Bank 1 to 9. Emporia— Lyons—First National Bank 1 to 3. Citizens National Bank 1 to 9. Madison—First National Bank 1 to 7 and 9. Commercial National Bank & 1 to 9. Nebraska City—Nebraska City Na- Ito9. Trust Co. tional Bank. Fort Scott—Citizens National Bank.. 1 to 7 and 9. Norfolk—Norfolk National Bank 1 to 3. Goodland—Farmers National Bank_. Ito4. Omaha- Great Bend—First National Bank... 1 to 9. First National Bank. 1 to 4. Horton—First National Bank 1 to 4. Omaha National Bank , 1 to 9. Hutchinson— United States National Bank I 4. American National Bank 1 to 9. Ord—First National Bank | 1 to 4. First National Bank 1 to 4. Pend*er—First National Bank j1, and 3 to 7, Independence- Randolph—First National Bank 1 to 9. J K e a w n e C C s l a o i s C t m i z it m e C y n — e i s t r y c F F — ia i i r r l s P s N t t e o N N a p t a a i l o e t t i i n s o o a n n l a a N B l l a a B n t a k i n o k nal I 1 1 1 t t t t o o o o 9 3 9 9 . . . . U So t B i u c a t a h n — k O . F m ir a s h t a N — a S ti t o o n c a k l Y B a a r n ds k . National 4 2 . and 3. Bank. NEW MEXICO Lawrence— (See also District No. 11) Lawrence National Bank 1 to 8. Merchants National Bank 1 to 8. Albuquerque- Watkins National Bank Ito9. Albuquerque National Bank 1 to 9. Luray—First National Bank 1 to 3. First National Bank 1 to 7 and 9. Ottawa—Peoples National Bank 1 to 4. Gallup—First National Bank in Gal- 2 and 3. Paola—Miami County National 1 to 9. lup. Bank. Raton— Pittsburg—American Exchange Na- 1 to 9. First National Bank in Raton.... 1 to 7. tional Bank of Commerce. National Bank of New Mexico... 2 and 3. Pratt—First National Bank 1 to 9. Santa Fe—First National Bank 1 to 9. Sabetha—National Bank of Sabetha, 1 to 4. OKLAHOMA Salina— Bartlesville— Farmers National Bank 1 to 5 and 8. First National Bank 1 to 8. National Bank of America 1 to 9. Union National Bank 4. Topeka— Blackwell—First National Bank 1 to 9. Farmers National Bank 1 to 4. Broken Arrow—First National Bank. 1 to 4, 6 to 9, National Bank of Topeka 1 to 9. Cleveland—First National Bank 1 to 9. Troy—First National Bank ., Ito3. Enid- Wellington—First National Bank... 1 to 9. American National Bank 1 to 9. Wichita- Central National Bank 1 to 9. First National Bank... Ito9. First National Bank Ito9. Fourth National Bank.. 1 to 9 Guthrie—First National Bank Ito8. Winfleld— Holdenville—First National Bank.... Ito9. First National Bank. 1 to 9 Hominy- Winfield National Bank 1 to 9. First National Bank 1 to 3, 5 to 9. MISSOURI National Bank of Commerce Ito9. Hooker—First National Bank 1 to 3 and 5. (See also District No. 8) Lawton—City National Bank 1 to 3, 5 to 7. Cameron—First National Bank Ito3. and 9. Carthage—Central National Bank... 1 to3. McAlester—First National Bank 1 to 3, 5 to 7. Joplin—Joplin National Bank. 1 to 9. Miami—Ottawa County National Ito9. Kansas City- Bank. Columbia National Bank.. 1 to 4 and 9. Muskogee—First National Bank 1 to 9. Fidelity National Bank & Trust Ito9. Oklahoma City- Co. American National Bank 1 to 3, 5, 7 to First National Bank. 1 to 9. 9. Gate City National Bank 1 to 9. Farmers National Bank 1 to 4. Interstate National Bank. Ito9. First National Bank Ito9. Liberty National Bank... 1 to 7 and 9. Liberty National Bank 1 to 9. New England National Bank & 1 to 9. Security National Bank. Ito8. Trust Co. Tradesmens National Bank 1 to 7 and 9, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

556 ANNUAL BEPOBT OP THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 10—Continued DISTRICT NO. 11—Continued OKLAHOMA—continued TEXAS—continued Okmulgee—Central National Bank... Ito9. Colorado- Pond Creek—First National Bank... 1 to 4. City National Bank Ito4. Sallisaw—First National Bank 1 to 3, 5 to 7. Colorado National Bank 1 to 3, 5 to 7. Shawnee—Shawnee National Bank.. 1 to 9. Corpus Christi—Corpus Christi Na- Ito7. Tulsa— tional Bank. Central National Bank Ito9. Corsicana—Corsicana National Bank- Ito4. Exchange National Bank 1 and 4. Dallas— First National Bank^ 1, 2, and 4. American Exchange National 1 to 9. Woodward—First National Bank 2 and 3. Bank. City National Bank _ Ito9. WYOMONG Dallas National Bank 1 to 9. Mercantile National Bank Ito9. Buffalo—First National Bank 1 to 4. National Bank of Commerce Ito4. Casper— North Texas National Bank 1 to 9. Casper National Bank.. Ito4. Republic National Bank Ito9. Citizens National Bank 1 to 7. Denison—State National Bank Ito9. Wyoming National Bank.. 1 to 4. El Paso— Cheyenne— El Paso National Bank 1 to 9. American National Bank _. Ito9. First National Bank 1 to 7 and 9. First National Bank. Ito9. State National Bank Ito9. Stock Growers National Bank 1 to 9. Fort Worth- Cody—Shoshone National Bank 1 and 4. Continental National Bank Ito9. Evanston—First National Bank Ito3. Farmers & Mechanics National 2 to 9. K"emmerer—First National Bank Ito4. Bank. Laramie—First National Bank Ito3. First National Bank 1, 2, and 4. Powell—First National Bank Ito8. Fort Worth National Bank 1 to 8. Rawlins— Stockyards National Bank Ito4. First National Bank Ito9. Galveston— Rawlins National Bank Ito3. City National Bank Ito9. Rock Springs— First National Bank.. 1 to 9. First National Bank 1 to 8.. South Texas National Bank Ito9. Rock Springs National Bank Ito9. United States National Bank 1 to 9. Sheridan— Granger—First National Bank 1 and 2. First National Bank Ito9. Greenville—Greenville National Ex- Ito4. Sheridan National Bank 1 to 3, 5 to 9. change Bank. Haskell—Haskell National Bank 1 to 3, 5 to 8. DISTRICT NO. 11 Houston- First National Bank 1 to 9. ARIZONA National Bank of Commerce 1 to 7 and 9. Second National Bank 1 to 7 and 9. (See also District No. 12) South Texas Commercial Na- Ito9. Nogales—First National Bank ... 1 to 8. State National Bank Ito9. Tucson— Union National Bank Ito9. Arizona National Bank 1 to 9. Italy—First National Bank Ito9. Consolidated National Bank Ito4. Longview—First National Bank 1 to 3, 5, and 8 LOUISIANA McKinney—First National Bank 1, 2, and 4. (See also District No. 6) First National Bank 1 to 3. Marshall National Bank _ Ito4. Shreveport— Orange— Commercial National Bank 1 to 4. First National Bank Ito9. First National Bank Ito4. Orange National Bank Ito9. Palestine—Royal National Bank Ito4. NEW MEXICO Port Arthur—First National Bank... Ito4. San Angelo— (See also District No. 10) Central National Bank... 1 to 4. R Si o lv sw er e C ll— ity F — ir A st m N e a ri t c io a n n a N l a B ti a o n n k al Bank 2 It o an 3 d . 3. San F S A a i n r n s t o t A n N n io g a — e ti l o o n N al a B tio a n n a k l Bank. I I t t o o 9 3 . . Alamo National Bank,. Ito9. Frost National Bank. Ito9. Lock wood National Bank Ito9. A A l b b il a e n n y e — — A C l i b ti a z n en y s N N a a ti t o io n n a a l l B B an a k nk... 4 1 . and 2. National Bank of Commerce Ito9. Amarillo—First National Bank Ito4. Commercial National Bank 1 to 3, 5 to 8. American National Bank 1 to 3. M B er a c n h k ants & Planters National Ito9. Austin National Bank 1 to 9. Stanton—First National Bank Ito3. A F T i e m r x s e a t r s N i c N a a n a ti t o i N o n n a a t a l i l o B n B a a a n l n k B k ank. ... i I 1 I t t o t o o 4 9 . 9 . . I i 1 T T T e e r B r o x r a u a e n r p ll k k — — an F A a i m r — s e t r N i T c e a a x n ti a o N r n k a a a t l n i o B a n a a n l k N B a a ti n o k n — al I I 1 t t . o o 9 8 . . Bonham—First National Bank Ito3. | Tyler—Citizens National Bank 1 to 3. Brady—Brady National Bank 1 to 3 and 5. Victoria—Victoria National Bank Ito4. Brenham—First National Bank 1 to 7 and 9.i Waco—First National Bank Ito9. Brownsville — Merchants National 1. ! Waxahachie—Citizens National Bank Ito9. Bank Digitized for B C C F r a la o R m r w kA e n s r Sv o w i n El o — l o eR d — C — i F ti C i z r i e s t t n i z s N e n N a s t a i N o ti n o a a n ti l a o l B n a B a l n a B n k a k . n . . . k . . . I 1 I t t t o o o 9 9 3 . . , 5 to 8. 1 Wic F h C i i i r t t a s y t F N N al a a ls t t i i — o o n n a a l l B B a at n a k k j I It t o o 9 9 . . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

557 FIDTJCIAKY POWEBS Powers Powers granted granted DISTRICT NO. 12 DISTRICT NO. 12—Continued OREGON—continued ALASKA Marshfield— Fairbanks—First National Bank Ito9. Coos Bay National Bank. Ito9. First National Bank of Coos Bay. Ito9. Medford—Medford National Bank.._ Ito9. Winslow—First National Bank 1. Milton—First National Bank.. 1 to 4. Ontario—First National Bank __ 2 and 3. Pendleton—First National Bank 1 to 4. Anaheim—First National Bank Ito9. Portland- Berkeley—First National Bank 1 to 3, 5 to 7, First National Bank. 1 to 4. and 9. Peninsula National Bank... Ito9. Calexico—First National Bank 4. United States National Bank Ito9. Chico—First National Bank Ito8. West Coast National Bank_ 1 to 9. Lodi—Lodi National Bank Ito9. Salem— Long Beach— First Natio a Bank in Salem 1 to 9. California National Bank_. 1 to 9. United States National Bank 1 to 9. First National Bank _ 1 to 9. Los Angeles- Commercial National Trust & 1 to 9. Logan—First National Bank 1 to 9. Savings Bank. Ogden— National Bank of Commerce 1 to 7 and 9. Farmers & Merchants National 1 to 9. Salt Lake City— Bank. Continental National Bank Ito4. Merchants National Trust & Ito9. Deseret National Bank 1 to 4. Savings Bank. Pacific National Bank 1 to 9. WASHINGTON Mountain View—First National 4. Aberdeen—Grays Harbor National Ito9. Oakland- Bellingham— Central National Bank 1 to 9. American National Bank _ 1 to 3 and 9. First National Bank Ito9. Bellingham National Bank 1 to 9. Ontario—Ontario National Bank 1 to 8. First National Bank „ 1 to 5 and 9. Orland—First National Bank 4. Northwestern National Bank Ito9. Pleasanton—First National Bank 4. Burlington—First National Bank 1 to 7 and 9. Pomona—First National Bank 1 to 3,5 to 7. Colfax—Farmers National Bank 1 to 4. Redwood City—First National Bank 1 to 3, 5, 7 Dayton—Columbia National Bank.. 1 to 3. of Mateo County. to 9. Ellensburg—Washington National Ito3. Sacramento—Capital National Bank. 1 to 9. Bank. San Bernardino—American National 1 to 9. Everett- Bank. First National Bank 1 to 9. San Diego—First National Bank 1 to 9. Security National Bank Ito9. San Francisco- Hoquiam— First National Bank Ito9. Anglo & London Paris National 1 to 9. Longview—First National Bank Ito9. Bank. Mount Vernon— Bank of California, N. A 1 to 9. First National Bank. Ito3. Crocker First National Bank 1 to 9. Skagit National Bank Ito4. Pacific National Bank. Ito8. Okanogan—First National Bank 1 to 9. Santa Ana—First National Bank...* 1 to 9. Olympia— Santa Barbara- Capital National Bank 1 to 9. County National Bank & Trust 1 to 9. Olympia National Bank.. 1 to 9. Co. Port Angeles—First National Bank.. Ito9. First National Bank 1 to 9. Pullman—First National Bank 1 to 7. Stockton—First National Bank 1 to 3, 5 to 7. Rosalia—Whitman County National Ito9. Bank. Boise- IDAHO Seattle- H H L P M o e a a o c w i g s l a P e F e B c i t s e y r o a i o t m l r — c o w l i s o i s n a t f — e — i H — n c N — C a F L N a i i i l t r F t e e i a s y w o i y t t r i n N s i o N N s a t n t a l a o a N a t t t i n B l i i o a o o a B t n n N n i n a o a a a k a l n n l l t a k B i o B B o l f a n a a B n I n a n d k a l k k a n . h B k o ank_ I 1 1 I I 1 I t t t t . o o o t o t o o 9 4 9 5 3 . . . . 3 , . 5 to 9. N N S U M D M F e i a a n e r e a a t t x s i t r t i i v t r t t i o o e l n o e n n e N r r p e a a s o a N H l l i N t t l i a y i B o C a o t t r a t i a n i N t i o n t n o o a y n a k n l n N a t B a i B l o N o a l a f t a n B a n B i n a o C t a k i l a k n n o o n . a B k m n l k a a m . B l n . . e k a B r n c a k n e k__ _ _ _ 1 I 1 I 1 1 I 1 t t t o o o t t t t t o o o o o 9 9 9 . . . 7 9 9 9 9 . . . . and 9. First National Bank. 1 to 9. Spokane— National Bank of Idaho 1. Exchange National Bank Ito9. Fidelity National Bank 1 to 9. NEVADA Old National Bank & Union Trust Ito9. Reno—Farmers & Merchants Na- 1 and 4. Co. tional Bank. Taco ma- Tonopah—Nevada First National 4. National Bank of Tacoma 1 to 9. Bank Puget Sound National Bank Ito9. OREGON Toppenish—First National Bank 1 to 9. Vancouver—Vancouver Nat ional 1 to 4. Ashland—First National Bank 1 to 9. Bank. Corvallis—First National Bank Ito9. Walla Walla— Eugene—First National Bank 1 to 4. Baker-Boyer National Bank... 1 to 9. Grants Pass—First National Bank of 1, 2, 3, 5, 6, First National Bank. 1 to 9. Southern Oregon. 7, and 9. Third National Bank... 1, 3, and 4, Harrisburg—First National Bank 1 to 3. Wenatchee—First National Bank Ito9. Hood River—First National Bank... Ito9. Yakima—Yakima National Bank 1 to 9. Junction City—First National Bank. 1, 2, 3, 5, 6, 7 and 9 HAWAIIAN ISLANDS McMinnville—United States Na- 1 to 9. Honolulu—First National Bank of Ito8. tional Bank. Hawaii. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKS AUTHORIZED TO ACCEPT BILLS UP TO 100 PER CENT OF CAPITAL AND SURPLUS The following banks have been granted authority by the Federal Reserve Board to accept drafts and bills of exchange up to 100 per cent of their capital stock and surplus: DISTRICT NO. 1 Connecticut: M assachusetts—C ontinued. Hartford—Hartford Aetna National Bank. Boston—Continued. New Haven—First National Bank. Second National Bank. Norwich—Thames National Bank. State Street Trust Co. Maine: Webster & Atlas National Bank. Portland- Dedham—Dedham National Bank. Canal National Bank. Fall River—Massasoit-Pocasset National Bank. Portland National Bank. Fitchburg—Safety Fund National Bank. Massachusetts: New Bedford- Boston- First National Bank. American Trust Co. Safe Deposit National Bank. Atlantic National Bank. Springfield—Springfield National Bank. Beacon Trust Co. Worcester—Merchants National Bank. Citizens National Bank. Rhode Island: First National Bank. Providence— Merchants National Bank. Blackstone Canal National Bank. National Shawmut Bank. Industrial Trust Co. Old Colony Trust Co. National Bank of Commerce. Providence National Bank. DISTRICT NO. 2 Connecticut: New York—Continued. Bridgeport- New York City—Continued. City National Bank. Corn Exchange Bank. First National Bank. Equitable Trust Co. New Jersey: Farmers Loan & Trust Co, Hoboken—First National Bank. Fidelity Trust Co. Newark—National Newark & Essex Banking Fifth Avenue Bank. Co* First National Bank. New Brunswick—National Bank of New Jer- Garfield National Bank. sey. Grace National Bank. Paterson— Guaranty Trust Co. Hamilton Trust Co. Harriman National Bank. Paterson National Bank. Mechanics & Metals National Bank. New York: National Bank of Commerce. New York City- National City Bank. American Exchange-Irving Trust Co. National Park Bank. Bank of America. New I^etherland Bank. Bank of Manhattan Co. (Manhattan Co.). New York Trust Co. Bank of New York & Trust Co. Seaboard National Bank. Bankers Trust Co. U. S. Mortgage & Trust Co. Central Union Trust Co. Utica—Utica Trust & Deposit Co. Chase National Bank. Chemical National Bank. DISTRICT NO. 3 Pennsylvania: Pennsylvania—C ontinued. Philadelphia— Philadelphia—Continued. Corn Exchange National Bank. Philadelphia-Girard National Bank. First National Bank. Tradesmen's National Bank. Market Street National Bank. DISTRICT NO. 4 Kentucky: Ohio—Continued, Lexington—Phoenix National Bank & Trust Toledo—Commerce Guardian Trust & Savings Co. Bank. Ohio: Pennsylvania: Cincinnati— Braddock—First National Bank. Fifth-Third National Banks Greensburg—First National Bank. Union Trust Co. Pittsburgh- Cleveland- Bank of Pittsburgh, N. A. Brotherhood of Locomotive Engineers Co- First National Bank. operative National Bank. Mellon National Bank. Central National Bank. Pittsburgh Trust Co. Cleveland Trust Co. Union National Bank. Guardian Trust Co. Union Trust Co. Union Trust Co. West Virginia: Columbus— Wheeling—Wheeling Bank & Trust Co. City National Bank. Ohio National Bank. 558 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ACCEPTANCES OF BILLS UP TO 100 PER CENT 559 DISTRICT NO. 5 Maryland: South Carolina—Continued. Baltimore— Orangeburg—Edisto National Bank. Baltimore Commercial Bank Rock Hill—Peoples National Bank. Baltimore Trust Co. Virginia: Citizens National Bank. Danville—First National Bank. Drovers & Mechanics National Bank. Hampton—Merchants National Bank. Farmers & Merchants National Bank. Norfolk- Maryland Trust Co. Citizens Bank. Merchants National Bank. National Bank of Commerce. National Bank of Baltimore. Norfolk National Bank. National Marine Bank. Seaboard National Bank. National Union Bank of Maryland Virginia National Bank. Western National Bank, Richmond- North Carolina: American National Bank. Wilmington—Murchison National Bank Bank of Commerce & Trusts. South Carolina: Central National Bank. Charleston- First-Merchants National Bank. Peoples First National Bank. South Carolina National Bank. DISTRICT NO. 6 Alabama: Georgia—Continued. Albany—Central National Bank. Savannah—Continued. Decatur—City National Bank. Savannah Bank & Trust Co. Huntsville—Henderson National Bank. Valdosta—First National Bank. Mobile—Merchants Bank. Louisiana: Montgomery—First National Bank. New Orleans- Troy—Farmers & Merchants National Bank. American Bank & Trust Co. Florida: Canal Bank & Trust Co. Jacksonville—Atlantic National Bank. Hibernia Bank & Trust Co. Pensacola—Citizens & Peoples National Bank™ Interstate Trust & Banking Co. Georgia: Marine Bank & Trust Co. Albany—Albany Exchange National Bank. New Orleans Bank & Trust Co. Atlanta- Whitney-Central National Bank. Atlanta & Lowry National Bank Mississippi: Fourth National Bank. Vicksburg—Merchants National Bank. M aeon- Tennessee: Fourth National Bank. Chattanooga- Macon National Bank. First National Bank. Savannah— Hamilton National Bank. Citizens & Southern Bank, Clarksville—First National Bank. Citizens Bank & Trust Co. DISTRICT NO. 7 Illinois: Indiana: Chicago- Brazil—Riddell National Bank. Chicago Trust Co. Indianapolis—Fletcher-American National Continental & Commercial National Bank. Bank. Drovers National Bank. Michigan: First National Bank. Detroit- Foreman National Bank. First National Bank in Detroit. Harris Trust & Savings Bank, National Bank of Commerce. Illinois Merchants Trust Co. Wisconsin: National Bank of the Republic. Milwaukee—First Wisconsin National Bank. Union Trust Co. Peoria—Merchants & Illinois National Bank, DISTRICT NO. 8 Arkansas: Missouri—Continued. Pine Bluff—Peoples Savings Bank & Trust Co, St. Louis—Continued. Mississippi: Merchants-Laclede National Bank. Ittabena—First National Bank. Mississippi Valley Trust Co. Missouri: National Bank of Commerce. St. Louis— Tennessee: First National Bank in St. Louis. Memphis—Union & Planters Bank & Trust Liberty Central Trust Co. Co. Mercantile Trust Co. DISTRICT NO. 9 Minnesota: Minnesota—Continued. Minneapolis- St. Paul—First National Bank. First National Bank in Minneapolis Northwestern National Bank DISTRICT NO. 10 Colorado: Missouri—Continued. Denver—Denver National Bank. Kansas City—Continued. Kansas: Fidelity National Bank & Trust Co. Hutchinson—First National Bank, First National Bank. Lawrence—Lawrence National Bank. St. Joseph—First National Bank. Missouri: Oklahoma: Kansas City- Oklahoma City—Security National Bank. Commerce Trust Co, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

560 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 11 Arizona: Texas—Continued. Nogales—First National Bank. Galveston—South Texas National Bank. Texas: Hillsboro—Citizens National Bank. Austin—American National Bank. Houston— Brown wood—First National Bank in Brown - First National Bank. wood. Houston National Bank. Corpus Christi—State National Bank. National Bank of Commerce. Dallas- Second National Bank. American Exchange National Bank. South Texas Commercial National Bank, City National Bank. Union National Bank. Dallas National Bank. Nayasota—First National Bank. Republic National Bank. Paris—Lamar State Bank & Trust Co. Eagle Pass—First National Bank. San Angelo—First National Bank. El Paso—First National Bank. Sherman—Commercial National Bank. Fort Worth- Terrell- Farmers & Mechanics National Bank. American National Bank. Fort Worth National Bank. First National Bank. Stockyards National Bank. Waco—First National Bank. Gainesville—First National Bank. Waxahachie—Waxahachie National Bank. DISTRICT NO. 12 California: 0 regon—C ontinued. Los Angeles— Portland—Continued. First National Bank. Northwestern National Bank. Merchants National Trust & Savings Bank. United States National Bank. San Francisco— Washington: American Bank. Seattle- Anglo & London-Paris National Bank. Dexter Horton National Bank. Bank of California, N. A. First National Bank. Crocker-First National Bank. National Bank of Commerce. Mercantile Trust Co. of California. Seattle National Bank. Pacific National Bank. Spokane- Wells Fargo Bank & Union Trust Co. Exchange National Bank. Santa Barbara—First National Bank. Old National Bank & Union Trust Co Oregon: Spokane & Eastern Trust Co. Portland- Tacoma—National Bank of Tacoma. First National Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DESCRIPTION OF FEDERAL RESERVE DISTRICTS Land area Population Federal reserve district (square June 30,1926 miles) (estimated) No. 1—Boston. _ 61,345 7,720,000 No. 2—New York 51,890 14, 536, 000 No. 3—Philadelphia.... 36,842 7,485,000 No. 4—Cleveland 73,424 11,120,000 No. 5—Richmond 152,316 10, 786,000 No. 6—Atlanta 248,226 10,907,000 No. 7—Chicago 190,513 17,020, 000 No. 8—St. Louis 194,810 9,640,000 No. 9—Minneapolis 414,004 5,666,000 No. 10—Kansas City... 473,565 7. 615,000 No. 11—Dallas 392,989 6,511,000 No. 12—San Francisco. 683,852 8,130,000 Total. _ I 2,973,776 117,136,000 FEDERAL RESERVE DISTRICTS DISTRICT NO. 1—BOSTON 7, 720,000 Connecticut (excluding Fairfield County) Maine Massachusetts _. New Hampshire.-. - Rhode Island... __ „ Vermont DISTRICT NO. 2—NEW YORK Connecticut (Fairfield County) __ New Jersey __ _ Counties of— Bergen. Hunterdon. Morris. Sussex. Essex. Middlesex. Passaic. Union. Hudson. Monmouth. Somerset. Warren. New York _ DISTRICT NO. 3—PHILADELPHIA Delaware. _ _ _ New Jersey Counties of— Atlantic. Cape May. Gloucester. Ocean. Burlington. Cumberland, Mercer. Salem. Camden. Pennsylvania _ ._. Counties of— Adams. Clinton. Lebanon. Philadelphia. Bedford. Columbia. Lehigh. Pike. Berks. Cumberland. Luzerne. Potter. Blair. Dauphin. Lycoming. Schuylkill. Bradford. Delaware. McKean. Snyder. Bucks. Elk. Mifflin. Sullivan. Cambria. Franklin. Monroe. Susquehanna Cameron. Fulton. Montgomery. Tioga. Carbon. Huntingdon, Montour. Union. Center. Juniata. Northampton. Wayne. Chester. Lackawanna. Northumberland. Wyoming. Clearfield. Lancaster. Perry. York. i Population Jan. 1, 1920; decrease 1910 to 1920; no estimate made. 561 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

562 ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1926 miles) (estimated) DISTRICT NO. 4—CLEVELAND 73,424 11,120,000 Kentucky (eastern part) 17,614 1,136,000 Counties of— Bath. Fleming. Lawrence. Nicholas. Bell. Floyd. Lee. Owsley. Boone. Garrard. Leslie. Pendleton. Bourbon. Grant. Letcher. Perry. Boyd. Greenup. Lewis. Pike. Bracken. Harlan. Lincoln. Powell. Breathitt. Harrison. McCreary. Pulaski. Campbell. Jackson. Madison. Robertson. Carter. Jessamine. Magoffin. Rockcastle. Clark. Johnson. Martin. Rowan. Clay. Kenton. Mason. Scott. Elliott. Knott. Menifee. Whitley. Estill. Knox. Montgomery. Wolfe. Fayette. Laurel. Morgan. Woodford. Ohio 40,740 6,600,000 Pennsylvania (western part) 13,864 3,190,000 Counties of— Allegheny. Crawford. Indiana. Venango. Armstrong. Erie. Jefferson. Warren. Beaver. Fayette. Lawrence. Washington. Butler. Forest. Mercer. Westmoreland. Clarion. Greene. Somerset. West Virginia (northern part) 1,206 194,000 Counties of— Brooke. Marshall. Tyler. Hancock. Ohio. WetzeJ. DISTRICT NO . 5—RICHMOND 152,316 10, 786,000 District of Columbia 62 528,000 Maryland 9,941 1, 580,000 North Carolina 48, 740 2, 858, 000 South Carolina 30,495 1,826,000 Virginia . 40,262 2, 519,000 West Virginia (southern part) _ 22,816 l! 475,000 Counties of— B arbour. Hardy. Mingo. Roane. Berkeley. Harrison. Monongalia. Summers. Boone. Jackson. Monroe. Taylor. Braxton. Jefferson. Morgan. Tucker. Cabell. Kanawha. Nicholas. Upshur. Calhoun. Lewis. Pendleton. Wayne. Clay. Lincoln. Pleasants. Webster. Doddridge. Logan. Pocahontas. Wirt. Fayette. McDowell. Preston. Wood. Gilmer. Marion. Putnam. Wyoming. Grant. Mason. Raleigh. Greenbrier. Mercer. Randolph. Hampshire. Mineral. Ritchie. DISTRICT NO. 6—ATLANTA 248,226* 10,907, 000 Alabama . 51,279 2 526 000 Florida 54,861 1, 317,000 Georgia .. 58 725 3 139 00C Louisiana (southern part) 26^891 1^337; 000 Parishes of— Acadia. Evangeline. Rapides. Tangipahoa. Allen. Iberia. St. Bernard. Terrebonne. Ascension. Iberville. St. Charles. Vermilion. Assumption. Jefferson. St. Helena. Vernon. Avoyelles. Jefferson Davis. St. James. Washington. Beauregard. Lafayette. St. John the Bap-West Baton Caicasieu. La Fourche. tist. Rouge. Cameron. Livingston. St. Landry. West Feliciana. East BatorI Orleans. St. Martin. Rouge. Plaquemines. St. Mary. East Feliciana. Pointe Coupee. St. Tammany, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DESCRIPTION OF FEDERAL RESERVE DISTRICTS 563 FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1926 miles) (estimated) DISTRICT NO. 6—ATLANTA—Continued. Mississippi (southern part) 25,519 1853,050 Counties of— Adams. Harrison. Lawrence. Scott. Amite. Hinds. Leake. Sharkey. Claiborne. Issaquena. Lincoln. Simpson. Clarke. Jackson. Madison. Smith. Copiah. Jasper. Marion. Stone. Covington. Jefferson. Neshoba. Walthall. Forrest. Jefferson Davis. Newton. Warren. Franklin. Jones. Pearl River. Wayne. George. Kemper. Perry. Wilkinson. Greene. Lamar. Pike. Yazoo. Hancock. Lauderdale. Rankin. Tennessee (easternnart^ 30,951 1 735 000 Counties of— Anderson. Giles. McMinn. Scott. Bedford. Grainger. Macon. Sequatchie. Bledsoe. Greene. Marion. Sevier. Blount. Grundy. Marshall. Smith. Bradley. Hamblen. Maury. Stewart. Campbell. Hamilton. Meigs. Sullivan. Cannon. Hancock. Monroe. Sumner. Carter. Hawkins. Montgomery. Trousdale. Cheatham. Hickman. Moore. Unicoi. Claiborne. Houston. Morgan. Union. Clay. Humphreys. Overton. Van Buren. Cocke. Jackson. Perry. Warren. Coffee. Jefferson. Pickett. Washington. Cumberland. Johnson. Polk. Wayne. Davidson. Knox. Putnam. White. De Kalb. Lawrence. Rhea. Williamson. Dickson. Lewis. Roane. Wilson. Fentress. Lincoln. Robertson. Franklin. Loudon. Rutherford. DISTRICT NO. 7—CHICAGO 190,513 ^7,020,000 Illinois (northern p 35,448 5,822,000 Counties of— Boone. Ford. Livingston. Rock Island. Bureau. Fulton. Logan. Sangamon. Carroll. Grundy. McDonough. Schuyler. Cass. Hancock. McHenry. Shelby. Champaign. Henderson. McLean. Stark. Christian. Henry. Macon. Stephenson. Clark. Iroquois. Marshall. Tazewell. Coles. Jo Daviess. Mason. Vermilion. Cook. Kane. Menard. Warren. Cumberland. Kankakee. Mercer. Whiteside. De Kalb. Kendall. Moultrie. Will. De Witt. Knox. Ogle. Winnebago. Douglas. Lake. Peoria. Woodford. Du Page. La Salle. Piatt. Edgar. Lee. Putnam. Indiana (northern Dart) 26,707 2,484,000 Counties of— Adams. Fountain. La Porte. Ripley. Allen. Franklin. • Madison. Rush. Bartholomew. Fulton. Marion. St. Joseph. Benton. Grant. Marshall. Shelby. Blackford. Hamilton. Miami. Starke. Boone. Hancock. Monroe. Steuben. Brown. Hendricks. Montgomery. Tippecanoe. Carroll. Henry. Morgan. Tipton. Cass. Howard. Newton. Union. Clay. Huntington. Noble. Vermilion. Clinton. Jasper. Ohio. Vigo. Dearborn. Jay. * Owen. Wabash. Decatur. Jennings. Parke. Warren. De Kalb. Johnson. Porter. Wayne. Delaware. Kosciusko. Pulaski. Wells. Elkhart. Lagrange. Putnam. White. Fayette. Lake. Randolph. Whitley. Iowa 55, 586 2,423,000 i Population Jan. 1, 1920; decrease 1910 to 1920; no estimate made. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

564 ANNUAL. KEPORT OF THE'FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal res(jrve district (square June 30,1926 miles) (estimated) DISTRICT NO. 7—CHICAGO—Continued. Michigan (southern part) 40, 789 3,997,000 Counties of— Alcona. Eaton. Lapeer. Ogemaw. Allegan. Emmet. Leelanau. Osceola. Alpena Genesee. Lenawee. Oscoda. Antrim. Gladwin. Livingston. Otsego. Arenac. Grand Traverse. Macomb. Ottawa. Barry. Gratiot. Manistee. Presque Isle. Bay. Hillsdale. Mason. Roscommon. Benzie. Huron. Mecosta. Saginaw. Berrien. Ingham. Midland. St. Clair. Branch. Ionia. Missaukee. St. Joseph. Calhoun. Iosco. Monroe. Sanilac. Cass. Isabella. Montcalm. Shiawassee. Charlevoix. Jackson. Montmorency. Tuscola. Cheboygan. Kaiarnazoo. Muskegon. Van Buren. Claire. Kalkaska. Newaygo. Washtenaw. Clinton. Kent. Oakland. Wayne. Crawford. Lake. Oceana. Wexford. Wisconsin (southern part) - 31, 983 2,294,000 Counties of— Adams. Green Lake. Marquette. Sheboygan. Brown. Iowa. Milwaukee. Vernon. Calumet. Jackson. Monroe. Walworth. Clark. Jefferson. Oconto. Washington. Columbia. Juneau. Outagamie. Waukesha. Crawford. Kenosha. Ozaukee. Waupaca. Dane. Kewaunee. Portage. Waushara. Dodge. Lafayette. Racine. Winnebago. Door. Langlade. Richland. Wood. Fond du Lac. Manitowoc. Rock. Grant. Marathon. Sauk. Green. Marinette. Shawano. DISTRICT No. 8—ST. LOUIS 194, 810 9, 640,000 52, 525 1,903,000 Illinois (southern part) . 20, 595 1, 381,000 Counties of— Adams. Franklin. Macoupin. Randolph. Alexander Gallatin Madison. Richland. Bond. Greene. Marion. St. Clair. Brown. Hamilton. Massac. Saline. Calhoun. Hardin. Monroe. Scott. Clay. Jackson. Montgomery. Union. Clinton. Jasper. Morgan. Wabash. Crawford. Jefferson. Perry. Washington. Edwards. Jersey. Pike. Wayne. Eflmgham. Johnson. Pope. White. Fayette. Lawrence. Pulaski. Williamson. Indiana (southern part) 9,338 640,000 Counties of— Clark. Greene. Martin. Spencer. Crawford. Harrison. Orange. Sullivan. Daviess. Jackson. Perry. Switzerland. Dubois. Jefferson. Pike. Vanderburg. Floyd. Knox. Posey. Warrick. Gibson. Lawrence. Scott. Washington. Kentucky (western part) 22, 567 1. 388,000 Counties of— Adair. Crittenden. Hopkins. Ohio. Allen. Cumberland. Jefferson. Oldham. Anderson. Daviess. Larue. Owen. Ballard. Edmonson. Livingston. Russell, Barren. Franklin. Logan. Shelby. Boyle. Fulton. Lyon. Simpson. Breckenridge. Gallatin. McCracken. Spencer. Bullitt. Graves. McLean. Taylor. Butler. Gray son. Marion. Todd. Caldwell. Green. Marshall. Trigg. Calloway. Hancock. Meade. Trimble. Carlisle. Hardin. Mercer. Union. Carroll. Hart. Metcalfe. Warren. Casey. Henderson. Monroe. Washington. Christian. Henry. Muhlenberg. Wayne. Clinton. Hickman. Nelson. Webster. 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DESCRIPTION OF FEDERAL RESERVE DISTRICTS 565 FEDERAL RESERVE DISTRICTS—Continued ; Land area Population Federal reserve district (square June 30,1926 miles) (estimated) DISTRICT NO. 8—ST. LOUIS—Continued. Mississippi (northern part) 20, 843 1 937, 568 Counties of— Alcorn. De Soto. Monroe. Tate. Attala. Grenada. Montgomery. Tippah. Benton. Holmes. Noxubee. Tishomingo. Bolivar. Humphreys. Oktibbeha. Tunica. Calhoun. Itawamba. Panola. Union. Caroll Lafayette. Pontotoc. Washington. Chicasaw. Lee. Prentiss. Webster. Choctaw. Leflore. Quitman. Winston. Clay. Lowndes. Sunflower. Yalobusha. Coahoma. Marshall. Tallahatchie. Missouri (eastern part) 58, 206 | 2, 657, 000 Counties of— Adair. Douglas. Maries. Reynolds. Audrain. Dunklin. Marion. Ripley. Barry. Franklin. Mercer. St. Charles. Benton. Gasconade. Miller. St. Clair. Bollinger. Greene. Mississippi. St. Francois. Boone. Grundy. Moniteau. St. Louis. Butler. Harrison. Monroe. St. Louis City. Caldwell. Henry. Montgomery. Ste. Genevieve. C alia way. Hickory. Morgan. Saline. Camden. Howard. New Madrid. Schuyler. Cape Girardeau. Howell. Oregon. Scotland. Carroll. Iron. Osage. Scott. Carter. Jefferson. Ozark. Shannon. Cedar. Johnson. Pemiscot. Shelby. Chariton. Knox. Perry. Stoddard. Christian. Laclede. Pettis. Stone. Clark. Lafayette. Phelps. Sullivan. Cole. Lawrence. Pike. Taney. Cooper. Lewis. Polk. Texas. Crawford. Lincoln. Pulaski. Warren. Dade. Linn. Putnam. Washington. Dallas. Livingston. Rails. Wayne. Daviess. Macon. Randolph. Webster. Dent. Madison. Ray. Wright. Tennessee (western part) 10, 736 733, 00O Counties of— Benton. Fayette. Henry. Shelby. Carroll. Gibson. Lake. Tipton. Chester. Hardeman. Lauderdale. Weakley. Crockett. Hardin. McNairy. Decatur. Haywood. Madison. Dyer. Henderson. Obion. DISTRICT NO. 9—MINNEAPOLIS.. 414, 004 5, 666, 000 Michigan (northern part) 16, 691 399,000 Counties of— Alger. Dickinson. Keweenaw. Menominee. Baraga. Gogebic. Luce. Ontonagon. Chippewa. Houghton. Mackinac. Schoolcraft. Delta. Iron. Marquette. Minnesota _ 80, 858 2, 651, 00O Montana _ 146,131 695, 000 North Dakota ._ 70,183 2 641,192 South Dakota 689,00O Wisconsin (northern part) 23, 273 591, 000 Counties of— Ashland. Dunn. Oneida. Sawyer. Barron. Eau Claire. Pepin. Taylor. Bayfield. Florence. Pierce. Trempealeau Buffalo. Forest. Polk. Vilas. Burnett. Iron. Price. Washburn. Chippewa. La Crosse. Rusk Douglas. Lincoln. St. Croix. 1 Population Jan. 1, 1920; decrease 1910 to 1920; no estimate made. ? Population State census, 1925; decrease 1920 to 1925; no estimate made. 38494—27- -37 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

566 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1926 miles) (estimated) DISTRICT NO. 10—KANSAS CITY 480,438 7, 663,000 Colorado 103.658 1, 059, 000 Kansas . 81,774 1, 821, 000 Missouri (western part) 10,521 841, 000 Counties of— Andrew. Cass. Holt. Nodaway. Atchison. Clay. Jackson. Platte. Barton. Clinton. Jasper. Vernon. Bates. De Kalb. McDonald. Worth. Buchanan. Gentry. Newton. Nebraska 76, 808 1, 385, 000 New Mexico (northern Dart) 48,359 213, 000 Counties of— Bernalillo. Mora. San Juan. Taos. Colfax. Rio Arriba. San Miguel. Union. McKinley. Sandoval. Santa Fe. Valencia. Oklahoma (northwestern Dart) 61, 770 2,108, 000 Counties of— Adair. Ellis. Logan. Pontotoc. Alfalfa. Garfield. Love. Pottawatomje. Beaver. Garvin. McClain. Roger Mills. Beckham. Grady. Mclntosh. Rogers. Blaine. Grant. Major. Seminole. Caddo. Greer. Mayes. Sequoyah. Canadian. Harmon. Murray. Stephens. Carter. Harper. Muskogee. Texas. Cherokee. Haskell. Noble. Till man. Cimarron. Hughes. Nowata. Tulsa. Cleveland. Jackson. Okfuskee. Wagoner. Comanche. Jefferson. Oklahoma. Washington. Cotton. Kay. Okmulgee. Washita. Craig. Kingfisher. Osage. Woods. Creek. Kiowa. Ottawa. Woodward. Ouster. Latimer. Pawnee. Delaware. Le Flore. Payne. Dewey. Lincoln. Pittsburg. Wyoming 97, 548 236, 000 DISTRICT NO. 11—DALLAS 386,116 6, 463, 000 Arizona (southeaster!L part) 23,412 159, 000 Counties of— Cochise. Greenlee. Pi ma. Santa Cruz. Graham. Louisiana (northern part) 18,518 582, 000 Parishes of— Bienville. De Soto. Madison. Tensas. Bossier. East Carroll. Morehouse. Union. Caddo. Franklin. Natchitoches. Webster. Cal dwell. Grant. Ouachita. West Carroll. Catahoula. Jackson. Red River. Winn. Clai borne. La Salle. Richland. Concordia. Lincoln. Sabine. New Mexico (southern Dart) 74,144 175, 000 Counties of— Catron. Eddy. Lincoln. Sierra. Chaves. Grant. Luna. Socorro. Curry. Guadalupe. Otero. Torrence. De Baca. Hidalgo. Quay. Dona Ana. Lea. Roosevelt. Oklahoma (southeastern Dart) 7,644 234, 000 Counties of— Atoka. Choctaw. Johnston. Marshall. Bryan. Coal. McCurtain. Pushmataha. Texas 262,398 5, 313,000 DISTRICT NO. 12—SAN FRANCISCO 683, 852 8,130, 000 Arizona (northwestern Dart) 90, 398 286. 000 Counties of— Apache. Maricopa. Navajo. Yavapai. Coconino. Mo have. Pinal. Yuma. Gila. California 155,652 4, 316, 000 Idaho 83,354 522,000 Nevada 109, 821 i 77,407 Oregon 95,607 877, 000 Utah 82,184 514, 000 Washington 66,836 1, 538,000 1 Population Jan. 1, 1920; decrease 1910 to 1920; no estimate made. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE DISTRICTS i »BOUNDARIES OF FEDERAL RESERVE DISTRICTS -.— BOUNDARIES OF FEDERAL RESERVE BRANCH TERRITORIES ® FEDERAL RESERVE BANK CITIES • FEDERAL RESERVE BRANCH CITIES O FEDERAL RESERVE BANK AGENCY Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX Acceptances: Bankers'—• Page Broadening use of, advisory council on 487 Tax on income derived from, by foreign holders, advisory council on 1 486 Banks authorized to accept bills up to 100 per cent of capital and surplus 558-560 Commodity classification of open-market purchases 107 Held by Federal reserve banks 19, 40, 46, 48, 55, 58, 61 Imports and exports, based on— Classification according to underlying commodities 107, 109 Discounted or purchased and held by Federal reserve banks. 61, 102, 103 Maturity of bills purchased and held by Federal reserve banks 59, 62, 105, 106 Member banks, purchased by Federal reserve banks from 104 Nonmember banks, purchased by Federal reserve banks from 104 Purchased by Federal reserve banks 19, 85, 86, 101-104 (See also Part II, Tables 3 and 4.) Rates, discount and open-market— Average rates of earnings on bills bought by Federal reserve banks 36, 37 Average rates charged by Federal reserve banks 33, 35 Changes in Federal reserve bank rates 32 Volume purchased by Federal reserve banks at each rate 104 Trade acceptances— Classification according to underlying commodities 111 Discounted by Federal reserve banks 100 Held by Federal reserve banks 58, 61, 103 Purchased by Federal reserve banks in open market 85, 86 Volume purchased from member banks and from nonmember banks and dealers 104 Accommodation at Federal reserve banks of reporting member banks 4, 89, 90, 159, 160 (See also Part II, Tables 12, 13, and 14.) Act amending Clayton Act, proposed 28 Adjusted-service certificates, loans to veterans on security of, regulations governing 29, 489 Administrator, national banks authorized to act as 27, 538-557 Advisory council, Federal. (See Federal advisory council.) Agencies of Federal reserve banks. (See Branches and agencies.) Albany, N. Y.: Bank debits 269 Condition of member banks in 252 Amendment to Clayton Act, proposed 28 Area of Federal reserve districts 561-566 Assessment for expenses of Federal Reserve Board 31, 496 Assets and liabilities. (See Resources and liabilities.) Atlanta, Ga.: Bank debits 348 Condition of member banks in 338, 346 Money rates 351 Atlanta par clearance case, decision of Circuit Court of Appeals upheld by United States Supreme Court 26 Automobiles, index of production 202 Balance sheets. (See Condition statements.) Baltimore, Md.: Bank debits 327 Condition of member banks in 319 Money rates 329 569 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

570 INDEX Page Bank debits—debits to individual account 181 (See also Part II, Table 15.) Bank notes. (See Federal reserve bank notes; National bank notes.) Bank of Belgium, credit to 14 Bank of England, condition of 209 Bank of France, condition of 210 Bank of Italy, condition of 212 Bank of Japan, condition of *___ 213 Bank of Netherlands, condition of 214 Bank of Poland, credit to 14 Bank of Sweden, condition of 215 Bank of Switzerland, condition of 216 Bank premises, Federal reserve: Book value ___ _ __ 47,50,132 Cost of 132 Depreciation allowances 21, 127, 132 Expense of maintaining 126 Bank suspensions 10, 190-196 Bankers' acceptances. (See Acceptances.) Bankers' balances of reporting member banks. (See Part II, Table 14.) Belgium, currency reform in 14 Bills bought. (See Acceptances.) Bills discounted. (See Discount and open-market operations.) Birmingham, Ala.: Bank debits 348 Condition of member banks in 338 Money rates 351 Bonds, United States. (See United States securities.) Borrowings of brokers in New York City 7, 264, 266, 267 Borrowings of reporting member banks at Federal reserve banks 4, 89, 90, 159 160 Discussion of 4 Boston, Mass.: Bank debits 241 Condition of member banks in 233, 239, 240 Money rates 243 Boundaries of tenth and eleventh Federal reserve districts, changes in 492 Branch banking, advisory council on McFadden bill 486 Branches and agencies of Federal reserve banks: Agency at Habana, Cuba— Discontinuance of Boston agency 22 Recommendation of advisory council 485 Building operations 22, 132 Clearing operations 22, 124 Directors of 502-508 Expenses of 22 Hearings on establishment of branch of Richmond bank 22 Managers of -_ 502-508 Volume of operations 22, 124 Brick, index of production 202 Brokers, loans to, by banks in New York City 7, 264, 266, 267 Buffalo, N. Y.: Bank debits 269 Condition of member banks in 252 Money rates 271 Building construction, advisory council on 484 Building contracts awarded, index of 206 Building operations of Federal reserve banks and branches 22, 132 Book value of bank premises 47, 50, 132 Cost of bank premises 132 Depreciation allowances 21, 127, 132 Expenses of maintaining bank premises 126 Business conditions 1 Advisory council on 483 Business indexes of the Federal Reserve Board 201-206 Call loans placed by New York City daily reporting banks 267 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 571 Capital: Page Federal reserve banks 47, 50 (See also Part II, Table 1.) Member banks 142-149 (See also Part II, Tables 9 and 10.) State bank members 146, 513-537 Cash reserves of Federal reserve banks. (See Reserves.) Cedar Rapids, Iowa: Bank debits 374 Condition of member banks in 361 Cement, index of production 204 Central banks, foreign: Condition of 209-216 Discount rates 218 Dollar balances of, in New York 16 Relation between Federal reserve banks and 14 Central reserve cities, condition of member banks in 149 Certificates of indebtedness: Held by Federal reserve banks 46, 48, 64 Issued to Federal reserve banks by Secretary of Treasury 116 Purchased by Federal reserve banks 115 Changes in boundaries of tenth and eleventh Federal reserve districts 492 Changes in discount rates i 32 Changes in membership in Federal reserve system 23, 188, 513 Charts: Federal reserve banks—Cash reserves, Federal reserve notes, deposits, total bills and securities, bills discounted, bills bought, United States securities 65-77 Member banks—Loans and investments, net demand deposits, time deposits 168-180 Check clearing and collection: Atlanta par clearance case, decision of Circuit Court of Appeals upheld by United States Supreme Court 25 Gold settlement fund transactions 46, 48, 117, 118 (See also Part II, Table 8.) Operations, volume of— Federal reserve banks 20, 123 Federal reserve branch banks 22, 124 (See also Part II, Tables 6 and 7.) Par list, number of banks on 25, 120, 122 Chicago, 111.: Bank debits_ 374 Condition of member banks in 361, 370, 372 Money rates 377 Cincinnati, Ohio: Bank debits 308 Condition of member banks in 299 Money rates 310 Circulation, note. (See Federal reserve bank notes; Federal reserve notes; National bank notes.) Classification of bills bought in open market 107 Classification of loans of all member banks 150 Classification of securities held by member banks 151 Clayton Act: Administration of 28 Amendment to, proposed 28 Clearing operations, volume of: Federal reserve banks 20, 123 Federal reserve branch banks . 22, 124 (See also Part II, Tables 6 and 7.) Cleveland, Ohio: Bank debits 308 Condition of member banks in , 299, 306 Money rates 310 Coal, index of production 204 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

572 INDEX Coin received and counted: Page At Federal reserve banks 20 At branches 22, 124 Circulation 199 Collateral held as security against Federal reserve notes 78, 79, 81 Collateral notes of member banks discounted by Federal reserve banks: Holdings of 58 Volume discounted 85, 86, 96 Collection of noncash items 20 Collection of checks. (See Check clearing and collection.) Columbus, Ohio: Bank debits 308 Condition of member banks in 299 Commercial, agricultural, and livestock paper: Discount rates 32 Discounted by Federal reserve banks 58, 85, 86 Commodity classification of bills bought in open market 107 Condition statements: All banks in the United States— Investments, by States, 1923-1926 141 Loans, by States, 1923-1926 140 Loans and investments— By States, 1923-1926 139 By Federal reserve districts, 1923-1926 135-138 Resources and liabilities, 1914-1926 134 Central banks in foreign countries—• Bank of England 209 Bank of France 210 Bank of Italy 212 Bank of Japan 213 Bank of Netherlands 214 Bank of Sweden 215 Bank of Switzerland 216 German Reichsbank 211 Federal reserve banks— Combined statement 40-53 Each bank. (See Part II, Tables 1 and 2.) Member banks— Investments, by States, 1923-1926 156' Loans, by States, 1923-1926 154 Loans and investments, by States, 1923-1926 152 Loans, classification of, on June 30, 1925 and 1926 150 Resources and liabilities— By class of bank 149 By class of member 148 Central reserve city banks 149 Country banks 149 On calfdates, 1914-1926 142 (See also Part II, Tables 9 and 10.) Reserve city banks 149 Securities, classification of, on June 30, 1925 and 1926 151 Reporting banks in leading cities, resources and liabilities— By months, 1922-1926—monthly averages of weekly figures. 164 (See also Part II, Table 13.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 573 Condition statements—Continued State bank members— Yage Classification of loans on June 30, 1925 and 1926 150 Classification of securities on June 30, 1925 and 1926 151 Resources and liabilities on call dates, 1914-1926 146 Copper, index of production 204 Counties in Federal reserve districts 561-566 Country member banks, condition of 149 Court decision in Atlanta par clearance case 25 Credit: Federal reserve bank— Chart showing 17 Discussion of 3, 16 Federal Reserve Bank of New York to— Bank of Belgium 14 Bank of Poland 14 Czechoslovakia 14 Member bank, discussion of 6 Policy of Federal reserve system 3 To foreign countries, advisory council on 484 Cuban agency: Boston agency discontinued 22 Recommendation of advisory council regarding 485 Currency: Amounts received and counted— At Federal reserve banks 20 At Federal reserve branch banks 22, 124 Circulation *____ 199 Federal reserve, cost of 19, 496 (See also Federal reserve bank notes; Federal reserve notes; National bank notes.) Customers' paper discounted by Federal reserve banks: Average rates charged 97 Holdings of 58 Czechoslovakia, credit to 14 Dallas, Tex.: Bank debits 454 Condition of member banks in 446, 452 Money rates 456 Debits to individual account 181 (See also Part II, Table 15.) Deferred availability items (checks, drafts, transit items, etc., of Federal reserve banks) 47, 50 Demand deposits of member banks 142-149, 158-166 (See also Part II, Tables 9-14.) Denver, Colo.: Bank debits 434 Condition of member banks in 423 Money rates 437 Department-store sales and stocks, index of 206 Deposits: All banks in the United States 134 Federal reserve banks— All banks combined 43-45, 47, 50, 54 Each bank. (See Part II, Tables 1 and 2.) Reserve required against 43, 54 Government— Held by Federal reserve banks 43, 47, 50 Held by member banks 142-149, 158-166 (See also Part II, Tables 9-14.) Member banks— All banks 142-149,158 (See also Part II, Tables 9-11.) Reporting banks in leading cities 160-166 (See also Part II, Tables 12-14.) Reporting banks in New York City 162, 260, 262 Reporting banks outside New York City 163 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

574 INDEX Deposits—C ontinued. Member banks—Continued. Page Reserve deposits 43, 47, 50, 142-149, 160-166 (See also Part II, Tables 9-14.) Time and demand— All banks 142-149, 158 Reporting banks in leading cities 160-166 Reporting banks in New York City 162 Reporting banks outside New York City I 163 (See also Part II, Tables 9-14.) National banks 144 State bank members 146 Depreciation charged off by Federal reserve banks 21, 127, 132 (See also Part II, Table 5.) Des Moines, Iowa: Bank debits 374 Condition of member banks in 361 Detroit, Mich.: Bank debits 374 Condition of member banks in 362 Money rates 377 Directors of Federal reserve banks and branches, list of 501-508 Discount and open-market operations of Federal reserve banks (see also Part II, Tables 3 and 4): Acceptances— Average rates of earnings on bills bought by Federal reserve banks I 36, 37 # Average rates charged by Federal reserve banks 33,'35 Commodity classification of open-market purchases 107 Discounted by Federal reserve banks 85, 86, 100 Held by Federal reserve banks 19, 40, 46, 48, 55, 58, 61 Imports and exports based on-— Classification according to underlying commodities 107, 108 Discounted or purchased and held by Federal reserve banks . 61, 102, 103 Maturity of bills purchased and held by Federal reserve banks- _ 62, 105, 106 Member banks, purchased by Federal reserve banks from 104 Nonmember banks, purchased by Federal reserve banks from _ _ 104 Purchased by Federal reserve banks 19, 85, 86, 101-104 Volume of, purchased by Federal reserve banks at each rate 104 Volume of, purchased from member banks and from nonmember banks and dealers 104 Branches of Federal reserve banks., bills discounted and bought-by __ 124 Discounts—Bills discounted— Commercial, agricultural, and livestock paper— Discount rates 33 Held by Federal reserve banks 58 Volume discounted 85, 86 Customers' paper— Average rates charged by member banks on paper rediscounted with Federal reserve banks 97, 98 Held by Federal reserve banks 58 Dollar exchange bills purchased or discounted 61, 102, 103, 111 Holdings of 40, 46, 48, 54, 62 Maturity of 59, 93-95 Member banks accommodated, number of 89, 90, 160 Member banks' collateral notes discounted and held by Federal reserve banks 58, 85, 86 National banks, bills discounted for 92 Rates charged and rates of earnings on bills discounted. _ 32-35, 93, 94 State bank members, bills discounted for 92 United States securities, paper secured by, discounted and held by Federal reserve banks \ 42, 48, 58, 96 Volume of bills discounted for member banks in each State 90 Volume (total) of bills discounted 88, 90-92 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 575 Discount and open-market operations of Federal reserve banks—Con. Open-market operations— Discussion of 3 Volume 85-88 Par value of United States securities held by Federal reserve banks. _ 64 Rates charged and rates of earnings. (See Discount and openmarket rates.) United States securities purchased and held by Federal reserve banks 19, 40, 48, 63, 67, 85, 86, 112-116 Volume of operations—total 20, 85-88, 101-106 Discount and open-market policies 3 Advisory council on 485, 486 Discount and open-market rates: Acceptances purchased, volume at each rate 104 Average rates of earnings on— Acceptances purchased 36, 37 Bills discounted 34, 37 Federal intermediate credit bank debentures 39 Municipal warrants purchased 39 Total bills and securities 39 United States securities purchased 38 Average rates charged on acceptances purchased 35 Average rates charged on bills discounted 33, 93, 94 Average rates charged by member banks on customers' paper rediscounted with Federal reserve banks 97, 98 Bills discounted, volume at each rate * 93, 94, 104 Changes in Federal reserve bank rates 3, 32 (See also Money rates.) Discount rates of central banks in foreign countries 217 Districts, Federal reserve. (See Federal reserve districts.) Dividends: Member banks 182 National banks 184 State bank members 186 Paid by Federal reserve banks 21, 127, 128 (See also Part II, Table 5.) Dollar balances of foreign central banks in New York 15 Dollar exchange bills purchased or discounted and held by Federal reserve banks 61, 103, 111 Dubuque, Iowa: Bank debits 375 Condition of member banks in 362 Due to and from banks and bankers. (See Part II, Table 14.) Earnings: Federal reserve banks 18, 126, 128 Rates of. (See Discount and open-market rates.) Member banks 182 Earnings and dividends: All member banks 182 National banks 184 State bank members 186 Earnings and expenses: All member banks 182 Federal reserve banks 18, 126, 128 (See also Part II, Table 5.) National banks : 184 State bank members 186 Eligible paper held as security for Federal reserve notes 79, 81 El Paso, Tex.: Bank debits 454 Condition of member banks in 446 Money rates 456 Employees: Federal reserve banks, number and salaries 19, 509-512 Federal Reserve Board, salaries 493-495 Employment, index of " 206 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

576 INDEX England: Bank of— Page Condition of 209 Discount rates 217 Exchange rates 207, 208 Gold holdings 220 Gold imports and exports 219 Money rates 218 Wholesale price index 222 Examiners: Federal reserve banks, salaries 494 National banks, salaries 499, 500 Exchange rates, foreign 207, 208 Executor, national banks granted authority to act as 27, 538-557 Expenses: All member banks 182 Branches and agencies of Federal reserve banks 22 Federal reserve banks 18, 126, 128 (See also Part II, Table 5.) Federal Reserve Board 31, 496-498 Fiscal agency departments of Federal reserve banks _* 127 National banks 184 State bank members 186 Exports and imports: Acceptances based on— Classification according to underlying commodities 107, 108 Purchased and held by Federal reserve banks 58, 61, 103 Gold _" 219 Discussion of 14 Expressage, cost of, Federal reserve banks 126 Factory employment and pay rolls, index of 206 Failures, bankl 1 10, 190-196 Federal advisory council: Meetings of 30 Members of 483, 501 Recommendations of, to Federal Reserve Board 483-488 Federal intermediate credit banks: Discounts for 85, 86, 91, 92 Debentures of— Earnings of Federal reserve banks on 39 Purchased by Federal reserve banks 85, 86 Federal reserve agents: Conferences of 30 Federal reserve note accounts of 78 Gold fund, summary of transactions 119 Gold held by 46, 48, 79, 80 List of _" 501-508 Salaries of 509-512 Federal reserve bank credit: Chart showing 17 Discussion of 3, 16 Federal reserve bank notes: Circulation outside United States Treasury and Federal reserve banks. 199 Circulation of all Federal reserve banks combined 43 Federal reserve banks: Acceptances purchased or discounted by. (See Acceptances.) Bank premises 47, 50, 132 Branches and agencies of— Agency at Habana, Cuba— Boston agency discontinued 22 Federal advisory council on 485 Buildings 1 22, 132 Directors of, list of 502-508 Expenses of 22 Hearing on establishment of branch of Richmond bank 22 Managers of L 502-508 Operations, volume of 22, 124 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 577 Federal reserve banks—Continued. Page Building operations 22, 132 Capital 47,50 Central banks, foreign, relations between 14 Clearing operations 20, 123 (See also Part II, Tables 6 and 7.) Commercial paper held by 58 Condition of all banks combined 40-53 Condition of each bank. (See Part II, Tables 1 and 2.) Deferred availability items (checks, drafts, transit items, etc.) 47, 50 Deposits— All banks combined 43-45, 47, 50, 54 Of each bank. (See Part II, Tables 1 and 2.) Reserve required against 43, 54 Depreciation charges made by 21, 127, 132 Directors and officers, list of 501-508 Discount rates. (See Discount and open-market rates.) Discounts. (See Discount and open-market operations.) Dividends paid 21, 127, 128 Earnings, transfers to surplus account 21, 127, 128 Earnings and expenses 18, 126, 128 (See also Part II, Table 5.) Employees, number and salaries __ 19, 509-512 Excess reserves. (See Reserves.) Expenses of 18, 126, 128 Expressage, cost of 126 Federal reserve bank notes. (See Federal reserve bank notes.) Federal reserve notes. (See Federal reserve notes.) Fiscal agency operations - 120 Franchise tax paid by 21, 127, 128 Furniture and equipment 127 Gold held by 43,46,48 Gold redemption fund 46, 48 Gold settlement fund 46, 48, 117, 118 (See also Part II, Table 8.) Government deposits held by 43, 47, 50 Governors— Conferences of 30 List of 501-508 Salaries of 509-512 Investments of. (See Discount and open-market operations.) Member-bank reserve deposits held by 43, 47, 50 Municipal warrants— Purchases and holdings 40, 86 Rates of earnings on 39 Officers and directors, list of 501-508 Officers, salaries of 509-512 Postage, cost of _- 126 Profit and loss account 127, 128 Rent paid by 126 Reserve ratio. (See Reserve ratio.) Reserves. (See Reserves.) Resources and liabilities— All banks combined 43-53 Each bank. (See Part II, Tables 1 and 2.) Salaries 19, 509-512 Self-insurance 127 Surplus account 21, 127, 128 Tables, statistical, identical for each district (Part II, Tables 1-16)— Boston 225-243 New York 244-271 Philadelphia 272-290 Cleveland 291-310 Richmond 311-329 Atlanta 330-352 Chicago 353-377 St. Louis 378-396 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

578 INDEX Federal reserve banks—Continued. Tables, statistical, identical for each district—Continued. Page Minneapolis 397-414 Kansas City _ __ 415-437 Dallas 438-456 San Francisco 457-479 Tax, franchise, paid to Government 21, 127, 128 Telephone and telegraph expenses 126 Uncollected items (checks, drafts, transmit items, etc.) 47, 50 United States securities purchased and held by. (See United States securities.) Volume of operations 20 (See also Part II, Table 6.) Federal Reserve Board: Assessment for expenses of 31, 126, 496 Conferences with advisory council, agents, and governors 30 Directory 493 Employees, number and salaries 493-495 Expenses of 31, 126, 496-498 Goldenweiser, E. A., appointed director of division of research and statistics 30 Hamlin, Charles S., reappointed member 30 McClelland, E. M., appointed assistant secretary 31 Members of _" 493 Officers, number and salaries 493-495 Parry, Carl E., appointed assistant director of division of research and statistics 31 Receipts and disbursements 496-498 Regulation M—Rediscount of notes secured by adjusted service certificates 489-491 Resolution regarding changes in boundaries of tenth and eleventh Federal reserve districts 492 Salaries of officers and employees 493-495 Wingfield, B. M., appointed assistant counsel 31 Federal reserve currency: Cost of 127 (See also Federal reserve bank notes; Federal reserve notes.) Federal reserve districts: Area 561-566 Changes in boundaries, tenth and eleventh districts 492 Counties in divided States 561-566 Description 561-566 Map showing outline 567 Population 561-566 Federal reserve notes: Circulation— All Federal reserve banks combined 43, 47, 50, 54 Each Fedefal reserve bank 80 (See also Part II, Tables 1 and 2.) Outside the United States Treasury and Federal reserve banks._ 199 Collateral security held against 78, 79, 81 Cost of preparing 496 Eligible paper held as collateral against 78, 79, 81 Excess collateral pledged against . _ _ 79 Gold and gold certificates held as collateral against 78, 79, 81 Held by Federal reserve agents 78 Held by Federal reserve banks 78, 80 Issued by Federal reserve agents to Federal reserve banks 78, 80 Outstanding 82, 84 Received by Federal reserve banks from Comptroller of the Currency 78 Reserves required against 43 Retired (returned by Federal reserve banks to Federal reserve agents) 82, 84 ."Federal," use of word, in title of banks, corporations, or firms 29 Fiduciary powers granted to national banks 27, 538-557 Financing, installment, advisory council on 483 Fiscal agency operations of Federal reserve banks 127 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

579 INDEX Page Food products, index of production 202 Foreign central banks: Condition of 209-216 Discount rates 218 Dollar balances in New York 16 Relation between Federal reserve banks and 14 Foreign countries: Credit to— Advisory council on.. 484 Discussion of _ 14 Exchange rates 207,208 Gold imports and exports 219 Gold holdings 220 Money rates 218 Foreign exchange rates 207, 208 Foreign financing, advisory council on 484 Fort Worth, Tex.: Bank debits 454 Condition of member banks in 446 France: Bank of— Condition of 210 Discount rates 217 Exchange rates 206, 207 Gold holdings 220 Money rates 218 Wholesale price index 222 Franchise tax paid by Federal reserve banks to Government 21, 127, 128 Galveston, Tex.: Bank debits 454 Condition of member banks in 447 Germany: Exchange rates 207,208 Gold holdings 220 Gold imports and exports 219 Money rates 218 Reichsbank— Condition of 211 Discount rates 217 Wholesale price index 222 Gold: Circulation 199 Federal reserve agents' gold fund 119 Held as security for Federal reserve notes 78, 79, 81 Held by Federal reserve agents 46, 48, 78, 79, 80 Held by Federal reserve banks . 43,46, 48 Holdings of principal countries 220 Imports and exports— Discussion of 14 Foreign countries 219 United States 197, 198 Reserves. (See Reserves.) Gold redemption fund: Federal reserve agents 78, 79 Federal reserve banks 46, 48 Gold settlement fund: Balance of all Federal reserve banks combined 46, 48 Clearings and transfers 118 Summary of transactions 117 (See also Part II, Table 8.) Gold standard, Belgium 14 Goldenweiser, E. A., appointed director of division of research and statistics 31 Government bonds. (See United States securities.) Government deposits: Held by Federal reserve banks „ 43, 45, 47, 50, 53, 54 Held by member banks 142-147, 160-167 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

580 INDEX Pag© Government, Federal reserve banks as fiscal agents of 20 Governors of Federal reserve banks: List of 501-508 Meetings of 30 Salaries of 509-512 Grand Rapids, Mich.: Bank debits 375 Condition of member banks in 362 Great Britain. (See England.) Hamlin, Charles S., reappointed member of Federal Reserve Board- 30 Helena, Mont.: Bank debits 412 Condition of member banks in 404 Money rates 414 Houston, Tex.: Bank debits 455 Condition of member banks in 447 Money rates 456 Imports and exports: Acceptances based on— Classification according to underlying commodities 107—111 Purchased or discounted by Federal reserve banks 58, 61, 103; Gold- Discussion of 14 Foreign countries 219 United States 197, 198 Indexes of the Federal Reserve Board: Building 206 Employment 206 Manufacturing production „ 201, 202; Mineral production 201, 204 Trade 206 India, gold imports and exports 219 Indianapolis Ind.: Bank debits 375 Condition of member banks in 363 Installment financing, advisory council on 483 Insurance, self, of Federal reserve banks 126 Interest rates. (See Discount and open-market rates; Money rates.) Investments: All banks in the United States, by States, 1923-1926 141 All member banks, by States, 1923-1926 156 Federal reserve banks. (See Earning assets; Discount and openmarket operations.) Investments and loans: All banks in the United States on call dates, 1923-1926, by Federal reserve districts 135-138 All member banks, by States, 1923-1926 152 (See also Part II, Tables 9, 13, 14.) Iron and steel, index of production 201, 204 Italy: Bank of— Condition of 212 Discount rates 217 Exchange rates 207, 208 Gold holdings 220 Money rates 218 Wholesale price index 222 Jacksonville, Fla.: Bank debits 349 Condition of member banks in 338 Money rates 351 Japan: Bank of— Condition of 213 Discount rates 217 Exchange rates 207, 208 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 581 Japan—Continued. Pase Gold holdings 220 Money rates 218 Wholesale price index 222 Kansas City: Bank debits . 435 Condition of member banks in 423, 432 Money rates 437 Land area of Federal reserve districts 561-566 Lead production, index of 204 Leased-wire system, cost of 496 Leather production, index of 202 Lincoln, Nebr.: Bank debits 435 Condition of member banks in 423 Little Rock, Ark.: Bank debits _ 394 Condition of member banks in 385 Money rates 396 Loans: All banks in the United States, 1923-1926 140 All member banks, 1923-1926 154 Loans and investments: * All banks in the United States on call dates, 1923-1926 135-138 All member banks— By States, 1923-1926 152 Classification of, on June 30, 1925 and 1926 150 (See also Part II, Tables 9, 13, 14.) Loans to brokers by banks in New York City 7, 264, 266 Loans, street, placed by New York City daily reporting banks 267 Loans to foreign countries by Federal reserve banks 14 Los Angeles: Bank debits 475 Condition of member banks in 465 Money rates 478 Louisville. Ky.: Bank debits 395 Condition of member banks in 386 Money rates 396 Lumber production, index of 202 Managers of branches of Federal reserve banks 502—508 Manufacturing production, index of 201, 202 Map outlining Federal reserve districts 567 Maturities: Acceptances purchased and held by Federal reserve banks._ 59, 62, 105, 106 Bills discounted by Federal reserve banks 59, 93-95 McClelland, E. M., appointed assistant secretary of Federal Reserve Board 31 McFadden branch banking bill, advisory council on 486 Member bank credit, discussion of 6 Member banks: Acceptances purchased by Federal reserve banks from 104 Accommodation at Federal reserve banks 4, 89, 90 159 160 (See also Part II, Tables 4, 12, 13, 14.) Brokers, loans to, by reporting banks in New York City 7, 264, 266 Capital stock 1_ 142-149, 513-537 Changes in membership 23, 188, 513-537 Collateral notes of, discounted and held by Federal reserve banks. _ 58, 85, 86 Condition of. (See Resources and liabilities.) Deposits— Government 142-147, 160-167 Time and demand— All member banks 142-147 158 (See also Part II, Table 11.) " ' Reporting banks in New York City 162 Reporting banks outside New York City l/.ll 163 38494—27 38 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

582 INDEX Member banks—Continued. Page Dividends declared 182 Dividends paid to, by Federal reserve banks 21, 127 Earnings and dividends— All member banks 182 National banks 184 State bank members 186 Failures 190-196 Investments, by States, 1923-1926 156 Loans, by States, 1923-1926 154 Loans and investments, by States, 1923-1926 152 Loans, classification of, on June 30, 1925 and 1926 150 Loans to brokers in New York City 7, 264, 266 National banks— Classification of loans on June 30, 1925 and 1926 150 Classification of securities on June 30, 1925 and 1926 151 Earnings and dividends 184 Membership, changes in 23, 188 Paper discounted for 92 Resources and liabilities on call dates 144, 148 Number accommodated through discount of paper 4, 89, 90, 160 Number in system 23, 120, 122, 148-150, 188 Number in each State 90 Number on par list 25, 120, 122 Reserve balances at Federal reserve banks 159 Reserve deposits,_ _._ 43, 47, 50, 142-149, 159-167 Resources and liabilities— All banks— By class of bank 149 By class of member 148 Central reserve city banks 149 Country banks 149 On call dates, 1914-1926 142 (See also Part II, Tables 9 and 10.) Reserve city banks 149 Reporting banks in leading cities— By months, 1922-1926, monthly averages of weekly figures. 164 (See also Part II, Table 13.) By weeks, 1926 160 (See also Part II, Tables 12 and 14.) Reporting banks in New York City— By weeks, 1926 162,260 By months, 1922-1926 262 Reporting banks outside New York City— By weeks, 1926 163 By months, 1922-1926 166 Securities, classification of, on June 30, 1925 and 1926 151 State banks— Admissions to system 513-535 Bills discounted for 92 Capital . 146,513-535 Classification of 536, 537 Classification of loans on June 30, 1925 and 1926 150 Classification of securities on June 30, 1925 and 1926 151 Earnings and dividends 186 *" "embership in system 23, 513-535 imber, capital, and total resources 146, 513-535 imber of par list 25 Resources and liabilities 146, 148, 513-535 Suspensions 190-196 Membership in Federal reserve system: Changes in 23, 188, 189 State banks and trust companies 513-535 Classification according to capital stock 536, 537 Memphis, Tenn.: Bank debits 395 Condition of member banks in 386 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 583 Milwaukee, Wis.: Bank debits 376 Condition of member banks in 363 Mineral production, index of 201, 204 Minneapolis, Minn.: Bank debits 413 Condition of member banks in 404, 410 Money rates 414 Money in circulation 199 (See also Federal reserve bank notes; Federal reserve notes; National bank notes.) Money rates: Foreign countries 218 New York market 200 (See also Part II, Table 16.) (See also Discount and open-market rates.) Municipal warrants: Purchased and held by Federal reserve banks 40, 86 Rates of earnings on 39 Muskogee, Okla.: Bank debits 435 Condition of member banks in 424 Nashville, Tenn.: Bank debits 350 Condition of member banks in 339 Money rates 351 National bank note circulation outside the United States Treasury and Federal reserve banks 199 National banks: Bills discounted for 92 Changes in membership 24, 188, 189 Classification of loans on June 30, 1925 and 1926 150 Classification of securities on June 30, 1925 and 1926 151 Earnings and dividends 183 Examiners, salaries of 499, 500 Failures 11, 191, 195 Fiduciary powers granted to J 27, 538-557 Number in system 23, 188 Organization of 24 Resources and liabilities on call dates, 1914-1926 144 Netherlands: Bank of— Condition of 214 Discount rates 217 Exchange rates 207, 208 Gold holdings _ 220 Gold imports and exports 219 Money rates 218 Wholesale price index 222 New Orleans, La.: Bank debits 350 Condition of member banks in 339 Money rates •_ 351 New York call money market, advisory council on 484 New York City: Bank debits 269 Brokers, loans to, by reporting member banks in 264, 266 Condition of member banks in 162, 252, 253,- 260, 262 Money rates 200, 271 Street loans placed by reporting banks in 267 Noncash items collected through Federal reserve banks 20 Nonferrous metals, index of production 202 Nonmember banks: Acceptances purchased by Federal reserve banks from 104 Failures I 11, 193-195 Loans and investments 135 Number on par list 25, 120, 122 Resources and liabilities 134 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

584 INDEX Notes. (See Federal reserve bank notes; Federal reserve notes; National bank notes.) Oakland, Calif.: Page Bank debits 475 Condition of member banks in 465 Ogden, Utah: Bank debits 476 Condition of member banks in 465 Officers and directors of Federal reserve banks, list of 501-508 Officers and employees: Federal reserve banks, number and salaries 19, 509-512 Federal Reserve Board, salaries 493-495 Oklahoma City, Okla.: Bank debits 435 Condition of member banks in 424 Money rates 437 Omaha, Nebr.: Bank debits 436 Condition of member banks in 424 Money rates 437 One hundred per cent of capital and surplus, list of banks authorized to accept bills up to 558-560 Open-market operations of Federal reserve banks. (See Discount and open-market operations.) Open-market rates. (See Discount and open-market rates.) Opinion of court in Atlanta par clearance case 26 Paper and printing, index of production 202 Par collections. (See Check clearing and collection.) Par list, number of banks on 25, 120, 122 Par value of United States securities held by Federal reserve banks 64 Parry, Carl E., appointed assistant director of division of research and statistics 31 Percentage of reserves to deposit and note liabilities of Federal reserve banks. (See Reserve ratio.) Pascagoula National Bank, Moss Point, Miss., par clearance case of 25 Petroleum production, index of 202, 204 Philadelphia, Pa.: Bank debits 289 Condition of member banks in 280, 286 Monev rates 290 Pittsburgh, Pa.: Bank debits 309 Condition of member banks in 300 Money rates 310 Poland, Bank of, credit to 14 Population of Federal reserve districts 561-566 Portland, Oreg.: Bank debits 476 Condition of member banks in 465 Money rates 478 Price stabilization, advisory council on 485 Prices, wholesale, index of 222 Profit and loss account of Federal reserve banks 127, 128 Publication of consolidated statement of condition of member banks, advisory council on 487 Pueblo, Colo.: Bank debits 436 Condition of member banks in 425 Purchased paper. (See Acceptances.) Railroad car loadings, index of 206 Rates. (See Discount rates; Money rates.) Ratio of cash reserves to deposit and note liabilities of Federal reserve banks. (See Reserve ratio.) Receipts and disbursements of the Federal Reserve Board 496-498 Recommendations of the Federal advisory council 483-488 Regulation M—Loans to veterans on notes secured by adjusted service certificates 489-491 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 585 Page Reichsbank, German, condition of 211 Rent paid by Federal reserve banks 126 Reporting member banks in leading cities, assets and liabilities: By months, 1922-1926, monthly averages of weekly figures 164 (See also Part II, Table 13.) By weeks, 1926 160 (See also Part II, Tables 12 and 14.) Reporting member banks in New York City, assets and liabilities— By months, 1922-1926 262 By weeks, 1926 162, 260 Reporting member banks outside New York City, assets and liabilities— By months, 1922-1926 166 By weeks, 1926 163 Reserve balances of member banks: Held by all Federal reserve banks combined 43, 48, 159 Held by each Federal reserve bank. (See Part II, Tables 1, 2, 9, 10, 12-14.) Reserve cities, condition of member banks in 149 (See also Part II, Table 9.) Reserve ratio: All Federal reserve banks combined 43-47, 50, 54 Each Federal reserve bank. (See Part II, Tables 1 and 2.) " Reserve," use of word, in title of banks, corporations, or firms 29 Reserves: Federal reserve banks— Cash- All banks combined 43, 46, 48, 52, 54 Each bank. (See Part II, Tables 1 and 2.) Excess reserves 43 Required against notes and deposits 43, 54 Member banks 142-149, 159-167 (See also Part II, Tables 9, 10, 12-14.) < Resolution of Federal Reserve Board changing boundaries of tenth and eleventh Federal reserve districts 492 Resources and liabilities: All banks in the United States, 1914-1926 134 Central banks in foreign countries 209-216 Federal reserve banks— Combined statement 40-53 Each bank. (See Part II, Tables 1 and 2.) Weekly statement and balance sheet items 52,53 Member banks— All member banks— By class of bank 149 By class of member 148 Central reserve city banks 149 Country banks 149 On call dates, 1914-1926 142 (See also Part II, Tables 9 and 10.) Reserve city banks 149 Reporting banks in leading cities— By months, 1922-1926, monthly averages of weekly figures, 164 (See also Part II, Table 13.) By weeks, 1926 160 (See also Part II, Tables 12 and 14.) Reporting banks in New York City— By months, 1922-1926 262 By weeks, 1926 162, 260 Reporting banks outside New York City— By months, 1922-1926 166 By weeks, 1926 ,. 163 National banks 1 144, 148 State bank members 146, 148 Richmond, Va.: Bank debits 328 Condition of member banks in 319, 325 Money rates 329 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

586 INDEX St. Joseph, Mo.: Page Bank debits 436 Condition of member banks in 425 St. Louis, Mo.: Bank debits 395 Condition of member banks in 386, 392 Money rates 396 St. Paul, Minn.: Bank debits 413 Condition of member banks in 404 Salaries: Federal reserve banks 19, 509-512 Federal Reserve Board 493-495 National bank examiners 499, 500 Salt Lake City, Utah: Bank debits 476 Condition of member banks in 466 Money rates 478 San Antonio, Tex.: Bank debits 455 Condition of member banks in 447 San Francisco, Calif.: Bank debits 477 Condition of member banks in 466, 473 Money rates 478 Savannah, Ga.: Bank debits 350 Condition of member banks in 339 Seattle, Wash.: Bank debits 477 Condition of member banks in 466 Money rates 479 Shoes, index of production 202 Silver: Circulation 199 Index of production '. 204 Sioux City, Iowa: Bank debits 376 Condition of member banks in 363 Spokane, Wash.: Bank debits 477 Condition of member banks in 467 Money rates 479 Stabilization of prices, advisory council on 485 State bank members: Admissions to system 513—535 Bills discounted for 92 Capital, surplus, and total resources 146, 148, 513-535 Changes in membership 23, 188, 513-535 Classification of loans on June 30, 1925 and 1926 150 Classification of securities on June 30, 1925 and 1926 151 Earnings and dividends 186 Failures 11, 192, 195 Number of 23, 188 Resources and liabilities on call dates, 1919-1926 146 Street loans placed by New York City daily reporting banks 267 Subsidiaries, Companies having, eligibility of paper for rediscount; advisory council on 485 Surplus account: Federal reserve banks 21, 47, 50, 126 (See also Part II, Table 1.) Member banks 148, 149 (See also Part II, Table 10.) Suspensions, bank 10, 190-196 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 587 Sweden: Bank of— Page Condition of 215 Discount rates 217 Exchange rates. 207, 208 Gold holdings 220 Wholesale price index 222 Switzerland: Bank of— Condition of 216 Discount rates 217 Exchange rates 207, 208 Gold holdings 217 Money rates 1 218 Wholesale price index 222 Tax, franchise, paid to Government by Federal reserve banks 21, 127, 128 Tax on income derived from bankers' acceptances by foreign holders, advisory council on 486 Telegraph, leased-wire system, cost of 496 Telephone and telegraph expense of Federal reserve banks 126 Textiles, index of production 202 Time and demand deposits of member banks: All banks 142-149, 158 Reporting banks in leading cities 160-166 Reporting banks in New York City 162 Reporting banks outside New York City 163 (See also Part II, Tables 9-14.) Tires, rubber, index of production 202 Tobacco manufactures, index of production 202 Toledo, Ohio: Bank debits 309 Condition of member banks in 300 Topeka, Kans.: Bank debits 436 Condition of member banks in 425 Trade acceptances: Classification according to underlying commodities 111 Discounted by Federal reserve banks 100 Held by Federal reserve banks 58, 61, 103 Purchased by Federal reserve banks in open market 85, 86 Trade, wholesale, index of 206 Treasury certificates of indebtedness*: Held by Federal reserve banks 46, 48 Issued to Federal reserve banks by Secretary of the Treasury 116 Purchased by Federal reserve banks 115 Treasury notes: Circulation 199 Held by Federal reserve banks 46, 48, 64 Purchased by Federal reserve banks 114 Trust companies. (See State banks and trust companies.) Trust powers granted to national banks 27, 538-557 Tulsa, Okla.: Bank debits 436 Condition of member banks in 425 Uncollected items (checks, drafts, transit items, etc.,) of Federal reserve banks 46, 50 United States Circuit Court of Appeals, decision of, in Atlanta par clearance case upheld by United States Supreme Court 25 United States Government, franchise tax paid to, by Federal reserve banks 21, 127, 128 United States notes in circulation 199 United States securities: Bills discounted, secured by— Held by Federal reserve banks 40, 46, 48, 58, 96 Volume discounted by Federal reserve banks 96 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

588 INDEX United States securities—Continued. Certificates of indebtedness— Page Held by Federal reserve banks 46, 48, 64 Issued to Federal reserve banks by Secretary of Treasury 116 Purchased by Federal reserve banks 85,86, 115 Held by Federal reserve banks 19, 40, 46, 48, 55, 63, 64 Par value of 64 Open-market purchases by Federal reserve banks 85, 112-116 Owned by member banks 142-149, 160 (See also Part II, Tables 9 and 10.) Rates of earnings on purchases by Federal reserve banks 38 Treasury notes— Held by Federal reserve banks 46, 48, 64 Purchased by Federal reserve banks 85, 86, 114 Victory notes purchased by Federal reserve banks 113 Volume purchased by Federal reserve banks 112 United States Supreme Cpurt, decision of, in Atlanta par clearance case__ 25 United States Treasurer, items drawn on, and handled by Federal reserve banks '_ 123 "United States," use of words in title of banks, corporations, or firms 29 Vaults, Federal reserve banks, cost of 132 Veterans, loans to, on notes secured by adjusted-service certificates, regulations governing 29, 489 Victory notes purchased by Federal reserve banks 113 Waco, Tex.: Bank debits 455 Condition of member banks in - 447 Warrants, municipal: Purchased and held by Federal reserve banks 40 Rates of earnings on 39 Washington, D. C: Bank debits 328 Condition of member banks in 319 Wholesale prices, index of 222 Wholesale trade, index of 206 Wichita, Kans.: Bank debits 436 Condition of member banks in 426 Wingfield, B. M., appointed assistant counsel of Federal Reserve Board._ 31 Withdrawals from membership in Federal reserve system 23, 188, 189 Zinc, index of production 204 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis