Annual Report of the Federal Reserve Board, 1928
FIFTEENTH ANNUAL REPORT OF THE FEDERAL RESERVE BOARD COVERING OPERATIONS FOR THE YEAR 1928 UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON : 1929 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
THE FEDERAL RESERVE BOARD DECEMBER 31, 1928 EX OFFICIO MEMBERS ROY A. YOUNG, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, ADOLPH C. MILLER. Secretary of the Treasury, Chairman. CHARLES S. HAMLIN. J. W. POLE, GEORGE R. JAMES. Comptroller of the Currency, EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. E. A. GOLDENWEISER, J. C. NOELL, Assistant Secretary. Director, Division of Research and E. M. MCCLELLAND, Statistics. Assistant Secretary. CARL E. PARRY, J. F. HERSON, Assistant Director, Division of Re- Chief, Division of Examination, and search and Statistics. Chief Federal Reserve Examiner. E. L. SMEAD, WALTER WYATT, General Counsel. Chief, Division of Bank Operations W. M. IMLAY, Fiscal Agent. II ADDITIONAL COPIES OF THIS PUBLICATION MAY BE PROCURED FROM THE SUPERINTENDENT OF DOCUMENTS U. S. GOVERNMENT PRINTING OFFICE WASHINGTON, D. C. AT 35 CENTS PER COPY (paper covers) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTS TEXT OF REPORT Member bank credit 1 Federal reserve policy 3 Position of reserve banks in the banking structure 7 Banking policy and credit policy 9 Money rates 10 Acceptances 12 Progress of the gold standard 14 Federal reserve bank credit in 1928 17 Earnings, expenses, and volume of work of the Federal reserve banks 19 Branches and agencies of Federal reserve banks 23 Building operations of Federal reserve banks 23 Changes in membership in the Federal reserve system 24 Bank examinations 26 Bank suspensions 26 Branch banking 28 Chain banking 30 Bank mergers 32 Banks on the par list 33 Trust activities of national banks 34 Agreements with foreign central banks in 1928 35 Changes in the board's regulations 35 Amendments to the Federal reserve act 36 The Clayton Antitrust Act 37 Discretion of board in approving the organization of foreign banking corporations 37 Discretion of Federal reserve system regarding matters relating to credit poli cies 39 Check clearing and collection 40 Legislation recommended 40 Meetings of the Federal Advisory Council 42 Conferences held by the Federal Reserve Board 42 Board's organization, staff, and expenditures 43 TABLES FEDERAL RESERVE BANK CREDIT RESERVE BANK CREDIT: No. 1. Reserve bank credit outstanding, by months, 1914-1928 47 No. 2. Deposits, reserves, note circulation, and reserve percentages of Federal reserve banks, by months, 1914-1928 50 No. 3. Reserve bank credit outstanding, by weeks, 1922-1928 53 No. 4. Deposits of Federal reserve banks, by weeks, 1922-1928 60 No. 5. Principal resources and liabilities of Federal reserve banks, by weeks 63 in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
IV CONTENTS RESERVE BANK CREDIT—Continued. p age No. 6. Resources and liabilities of Federal reserve banks, in detail, December 31, 1928 64 No. 7. Resources and liabilities of Federal reserve banks at the end of each month 66 No. 8. Condition of each Federal reserve bank at end of 1927 and and 1928 68 No. 9. Number of member banks discounting paper at Federal reserve banks, by months, 1914-1928 70 No. 10. Average maturity of bills discounted and bills bought by Federal reserve banks, by years, 1918-1928 70 No. 11. Bills discounted by Federal reserve banks—Holdings at the end of each month, by classes 71 No. 12. Bills bought by Federal reserve banks—Holdings at the end of each month, by classes 71 No. 13. Holdings of bills discounted and bills bought by Federal reserve banks, by maturities 72 No. 14. Holdings of United States securities by Federal reserve banks at the end of each year, 1924-1928, by classes 73 No. 15. Holdings by Federal reserve banks of United States securities in special investment account, 1923-1928 74 No. 16. Holdings by Federal reserve banks of temporary one-day certificates of indebtedness issued by the United States Treasury, 1923-1928 75 VOLUME OF OPERATIONS OF FEDERAL RESERVE BANKS: No. 17. Volume of operations in principal departments, 1924-1928-_ 76 No. 18. Bills purchased by Federal reserve banks during 1928, classified according to underlying commodities 76 GOLD SETTLEMENT FUND: No. 19. Summary of transactions through the fund, 1923-1928 77 FEDERAL RESERVE AGENTS' FUND: No. 20. Summary of transactions through the fund, 1923-1928 77 MEMBERSHIP IN PAR COLLECTION SYSTEM: No. 21. Number of banks on par list and not on par list, 1920-1928-. 78 FEDERAL RESERVE BANK PREMISES: No. 22. Cost of premises of Federal reserve banks and branches to December 31, 1928 79 EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS: No. 23. Gross and net earnings and disposition made of net earnings, 1914-1928 80 No. 24. Earnings, by sources, 1914-1928 80 FEDERAL RESERVE NOTES: No. 25. Federal reserve agents' accounts at the end of each month.. 81 GOLD STOCK, GOLD MOVEMENTS, AND MONEY IN CIRCULATION -GOLD: No. 26. Monetary gold stock of the United States, by months, 1914- 1928 85 No. 27. Monetary gold stock of the United States, by weeks, 1922- 1928 86 No. 28. Gold earmarked by Federal reserve banks for foreign account, 1916-1928 88 No. 29. Gold imports and exports, by countries, 1925-1928 88 No. 30. Gold imports and exports, by months, 1915-1928 89 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTS V MONEY IN CIRCULATION: Page No. 31. United States money in circulation, by months, 1914-1928__ 90 No. 32. United States money in circulation, by weeks, 1922-1928.__ 92 No. 33. Kinds of money in circulation, by months, 1926-1928 94 DISCOUNT RATES AND MONEY RATES DISCOUNT RATES AND MONEY RATES: No. 34. Federal reserve bank discount rates on all classes and maturities of discounted bills—Changes from January 1, 1922, to December 31, 1928 97 No. 35. Federal reserve bank buying rates on acceptances—Changes from January 1, 1919, to December 31, 1928 99 No. 36. Average rates charged by Federal reserve banks on bills discounted and bills bought, 1918-1928 100 No. 37. Average rates earned by Federal reserve banks on bills and securities, 1916-1928 101 No. 38. Average rates charged by member banks on customers' paper rediscounted with Federal reserve banks, 1921-1928 102 No. 39. Open-market rates in New York City, by months, 1924-1928. 103 No. 40. Open-market rates in New York City, by weeks 104 No. 41. Money rates in New York City—Prevailing rates charged customers, by months, 1924-1928 105 FOREIGN RATES: No. 42. Discount rates at central banks in foreign countries—Changes from January 1, 1922, to December 31, 1928 106 No. 43. Open-market rates in foreign countries, by months, 1924- 1928 "_ 107 MEMBER AND NONMEMBER BANK CREDIT ALL BANKS IN THE UNITED STATES: No. 44. Loans and investments of member and nonmember banks, 1914-1928 111 No. 45. Deposits of member and nonmember banks (exclusive of interbank deposits), 1914-1928 111 ALL MEMBER BANKS: No. 46. Resources and liabilities of national and State bank members, December 31, 1927 and 1928 112 No. 47. Resources and liabilities of reserve city and country banks, December 31, 1927 and 1928 113 No. 48. Principal resources and liabilities, on call dates, 1914-1928-_ 114 No. 49. Net demand and time deposits, by size of city, 1924-1928 116 No. 50. Reserve balances, by months, 1917-1928 117 No. 51. Borrowings at Federal reserve banks, by months, 1914-1928-_ 117 No. 52. Classification of loans on June 30, 1925-1928 118 No. 53. Classification of securities on June 30, 1925-1928 119 REPORTING MEMBER BANKS IN LEADING CITIES: No. 54. Principal resources and liabilities, 1927-28, by weeks (revised series) 120 No. 55. Loans and investments, deposits, reserve balances, and borrowings at Federal reserve banks, by months, 1919-1928 (old series) 124 No. 55a. Principal resources and liabilities, by wreeks (old series) 126 No. 56. Bankers' balances, by weeks: Total, New York City, other leading cities (revised series) 128 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
VI CONTENTS BROKERS' LOANS: p age No. 57. Loans to brokers and dealers, secured by stocks and bonds, made by reporting member banks in New York City, by weeks 129 No. 58. Brokers' borrowings, 1926-1928, as reported by New York Stock Exchange 130 BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING: No. 59. Bankers' acceptances and commercial paper outstanding, by months, 1922-1928 131 No. 60. Bankers' acceptances outstanding, by classes 131 No. 61. Distribution of bankers' acceptances outstanding, by months, 1927-28 132 BANK DEBITS: No. 62. Debits to individual accounts by banks in 141 principal cities, by months, 1920-1928 132 BANK SUSPENSIONS: No. 63. Banks suspended and reopened, by years, 1921-1928 133 No. 64. Bank suspensions, by months, 1921-1928 134 No. 65. Bank suspensions: Number, classified according to capital stock, 1921-1928 136 No. 66. Bank suspensions: By size of town or city, 1921-1928 136 CHANGES IN MEMBERSHIP OF THE FEDERAL RESERVE SYSTEM: No. 67. Summary of changes, by years, 1925-1928 137 No. 68. Changes, by class of member, 1927 and 1928 137 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS, 1923-1927: No. 69. Earning assets, capital funds, and profits 138 No. 70. Earnings, expenses, and dividends 138 No. 71. Ratios of earnings, expenses, etc., to average earning assets. _ 139 BANKING CONDITIONS IN FEDERAL RESERVE DISTRICTS AND STATES CONDITION OF EACH FEDERAL RESERVE BANK: No. 72. Bills discounted for member banks—Holdings, by months, 1924-1928 143 No. 73. Discounted bills—Holdings on December 31, 1928, by classes 144 No. 74. Discounted bills—Holdings on December 31, 1928, by maturities 144 No. 75. Average maturity of bills discounted, 1926-1928 144 No. 76. Principal resources and liabilities, by weeks 145 VOLUME OF OPERATIONS OF EACH FEDERAL RESERVE BANK: No. 77. In principal departments 157 No. 78. In branches 158 GOLD SETTLEMENT FUND: No. 79. Summary of transactions through the fund, by districts 159 FEDERAL RESERVE AGENTS' GOLD FUND: No. 80. Summary of transactions through the fund, by districts._ 159 MEMBERSHIP IN PAR COLLECTION SYSTEM: No. 81. Number of banks on par list and not on par list, by districts 160 No. 82. Number of banks on par list and not on par list, by States, December 31, 1927 and 1928 161 EARNINGS AND EXPENSES OF EACH FEDERAL RESERVE BANK: No. 83. Gross and net earnings and disposition made of net earnings, 1914-1928 162 No. 84. Earnings and expenses in detail 166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTS VII CONDITION OF ALL BANKS IN EACH DISTRICT, 1923-1928: Page No. 85. Total loans and investments -__ 168 No. 86. Totalloans 169 No. 87. Investments 170 No. 88. Deposits (exclusive of interbank deposits) 171 CONDITION OF ALL BANKS, BY STATES, 1924-1928: No. 89. Total loans and investments 172 No. 90. Totalloans 173 No. 91. Investments 174 CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT: No. 92. Principal resources and liabilities, on call dates, 1921-1928-_ 175 No. 93. Net demand and time deposits, by months 187 No. 94. Net demand and time deposits, by size of city 188 No. 95. Reserve balances, by months, 1927 and 1928 190 No. 96. Borrowings at Federal reserve banks, by months, 1927 and 1928 191 No. 97. Number of member banks discounting paper at Federal reserve banks, 1923-1928 191 CONDITION OF ALL MEMBER BANKS, BY STATES: No. 98. Total loans and investments, 1926-1928 192 No. 99. Total loans, 1926-1928 193 No. 100. Investments, 1926-1928 194 No. 101. Borrowings at Federal reserve banks, by months, 1927-1928- 195 No. 102. Number of member banks discounting paper at Federal reserve banks, 1923-1928 197 CONDITION OF REPORTING MEMBER BANKS IN EACH DISTRICT: No. 103. Loans, investments, and borrowings at Federal reserve banks, by months, 1927-28 (revised series) 198 No. 104. Total loans and investments, by weeks (old series) 200 No. 105. Total loans, by weeks (old series) 201 No. 106. Loans on securities, by weeks (old series) 202 No. 107. All other loans, by weeks (old series) 203 No. 108. Investments, by weeks (old series) 204 No. 109. Net demand deposits, by weeks (old series) 205 No. 110. Time deposits, by weeks (old series) 206 No. 111. Reserve balances, by weeks (old series) 207 No. 112. Borrowings at Federal reserve banks, by weeks (old series). 208 BANKERS' BALANCES OF REPORTING MEMBER BANKS, BY DISTRICTS: No. 113. Amounts due from other banks, 1927-28, by months (revised series) 209 No. 114. Amounts due to other banks, 1927-28, by months (revised series) 209 BANK SUSPENSIONS: No. 115. Banks suspended and reopened, by districts 210 No. 116. Banks suspended and reopened, by States 211 CHANGES IN MEMBERSHIP: No. 117. Changes, by districts 212 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS: No. 118. All member banks, by districts 214 No. 119. National banks, by districts 215 No. 120. State member banks, by districts 216 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
VIII CONTENTS INDUSTRIAL AND TRADE CONDITIONS INDEX NUMBERS OF PRODUCTION, EMPLOYMENT, TRADE, AND PRICES: Page No. 121. Production, employment, trade, and prices, 1919-1928 219 No. 122. Production of manufactures, by groups, 1919-1928 222 No. 123. Production of minerals, by products, 1919-1928 223 No. 124. Wholesale distribution, by individual lines of trade, 1919- 1928 224 APPENDIX Recommendations of the Federal Advisory Council 227 Amendments to the Federal reserve act 231 Amendment to Clayton Antitrust Act 231 Regulations of the Federal Reserve Board 232 Court decision in Minneapolis par clearance case 238 Court opinion as to discretion of Federal reserve system regarding matters relating to credit policies 242 Directory of the Federal Reserve Board 243 Salaries of officers and employees of the Federal Reserve Board 243 Receipts and disbursements of the Federal Reserve Board 246 Salaries of national-bank examiners 248 Directory of the Federal Advisory Council " 250 Governors and directors of Federal reserve banks 250 Salaries of officers and employees of Federal reserve banks 258 State bank and trust company members of Federal reserve system: List of members, with location, loans, investments, etc 261 Summary classification according to capital stock 282 Fiduciary powers granted to national banks 284 Banks authorized to accept bills up to 100 per cent of capital and surplus. _ 307 Description of Federal reserve districts 310 Description of Federal reserve branch territories 316 Map of Federal reserve districts . 318 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL BEPOBT OF THE FEDEEAL EESEEVE BOAED WASHINGTON, February 25', 1929. Nineteen hundred and twenty-eight, the year covered by this, the Fifteenth Annual Report of the Federal Reserve Board, has been a year of active business, of continued growth in the demand for credit, and of a rising level of money rates. Industrial activity, which had receded in the latter part of 1927, recovered and reached new high levels in 1928. Agricultural production was large, and the income of farmers was at about the same level as the year before. The flow of commodities through the channels of trade to consumers kept pace with production, and there was no accumulation of inventories. Commodity prices, which had begun to advance in the summer of 1927, continued to rise through most of 1928, but receded in the last quarter of the year, and in December were at the same level as at the close of the preceding year. Gold withdrawals on a large scale and continued growth of bank credit resulted in an increased demand for reserve bank credit and, owing to security sales by the reserve banks, in an even larger increase of indebtedness of member banks. As a consequence, money rates advanced to the highest level in seven years. Rate advances, however, were much sharper for loans on securities than for commercial loans, and there was no evidence of unfavorable effects of higher money rates on trade and industry. During the year much progress was made in monetary and financial reconstruction in foreign countries, and the reestablishment of the international gold standard was practically completed. MEMBER BANK CREDIT Active industry and trade in 1928 was accompanied by a growth in the demand for bank credit, both for financing security transactions and for commercial purposes, and there was also a large growth in the use of acceptances for financing the storage and marketing of crops and other products. The banks7 investments showed little change for the year, while their loans on securities increased rapidly. Changes 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD for the year in the principal items of condition of member banks in leading cities are set forth in the following table: MEMBER BANKS IN LEADING CITIES [Monthly averages of weekly figures—revised series. In millions of dollars] Increase (+) or decrease (—) December, December, 1927 1928 Per cent Loans and investments. 21, 328 22,189 +861 +4.0 Loans 15, 396 16, 253 +857 +5.6 On securities 6,676 7,198 +522 +7.8 Allother 8,720 9,055 +335 +3.8 Investments _ 5,932 5,936 +4 +.1 Net demand deposits... 13, 872 13, 399 -473 -3.4 Time deposits.._ 6,419 6,842 +423 +6.6 Growth of security loans in 1928 accompanied an extraordinary growth in activity in the securities market and a rapid advance in security values. This increase in stock-exchange activity was reflected in a rise to the highest level on record of the total volume of loans to brokers and dealers in securities. The volume of brokers' loans has been increasing with some fluctuations since the beginning of 1924, and in December, 1928, it reached a total of $6,440,000,000, as reported by the stock exchange, which includes in its reports brokers' borrowings from all sources. Brokers' loans made through reporting member banks in New York City increased by $1,600,000,000 in 1928 and averaged about $5,200,000,000 during the last month of the year. The chart shows the course of brokers' loans reported by member banks in New York City for the years 1923 to 1928. For the three years, 1926-1928, the total is subdivided into loans made by the banks for their own account, for account of out-of-town domestic banks, and for account of others, including individuals, firms, corporations, and foreign banks. Of the growth of $1,600,000,000 in brokers' loans placed by member banks in New York City during 1928 about $400,000,000 was for account of out-of-town banks, which includes a certain amount of loans by these banks for account of their customers, and $1,330,000,000 was for account of nonbanking lenders, while loans by the New York banks for their own account showed a decrease for the year. The large growth in the volume of loans by nonbanking lenders reflected in part the strong cash position of corporations, which had funds available in excess of their current requirements. These loans by nonbank lenders do not create deposits and it is for this reason that the growth of brokers' loans during the year has not been Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD accompanied by a growth of bank deposits. A consequence of this development has been the absence of growth of member bank MILLIONS OF DOLLARS MILLIONS OF DOLLARS 60001 ' 6000 I BROKERS' LOANS I MADE BY REPORTING MEMBER BANKS IN NEW YORK CITY 50001 5000 40001 4000 3000 3000 2000- 2000 1000 1000 1923 1924 1925 1926 1927 1928 Based on weekly figures reported to Federal Reserve Board; figures beginning with 1926 are somewhat more inclusive than earlier figures. Figures for domestic banks are a combination of those for own account and for out-of-town banks reserve requirements and of the demand for reserve bank credit from that source. FEDERAL RESERVE POLICY In the autumn of 1927 the Federal reserve system, in view of business recession in this country and a money stringency abroad, adopted a policy directed toward easier money. This policy was a factor during the latter part of 1927 in bringing about a reversal of the gold movement, which had been toward the United States for several years, and a substantial outflow of gold to other markets. The effect of this outflow on the domestic money market was at first fully offset by the reserve banks by open-market purchases of securities. Toward the end of the year, however, in view of the rapid increase in the demand for credit from the security markets, these purchases were reduced in volume and finally discontinued. Credit conditions nevertheless remained easy, partly because the autumn and holiday increase in currency demand was considerably smaller than usual. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
A.NNUAX, REPORT OF THE FEDERAL RESERVE BOARD Until the end of 1927 borrowing at banks on securities continued to increase rapidly, and early in 1928, when it began to be apparent that industry in this country was again active and that the emergency abroad had passed, the Federal reserve system determined to exert its influence more actively toward firmer money conditions. The reserve banks accordingly sold United States securities in the first six months of 1928 in approximately the same amount as they had purchased to offset the effects of gold withdrawals in the late months of the preceding year. These sales, coming at the time of the postholiday inflow of currency, absorbed a part of this inflow, which was unusually large, with the consequence that member banks were not in a position to reduce their borrowings by its full amount. In January and February, furthermore, discount rates at all the reserve MILLIONS OF DOLLARS MILLIONS OF DOLLARS 2000 [2000 1500 1500 Discount Rate- F.R.BankofNewYork Reserve Bank Holdings of U.S.Securities 1924 1925 1926 1927 1928 Based on weekly averages of daily figures banks were raised from 3^ to 4 per cent, and advances were also made in the reserve banks' buying rates on bankers' acceptances. Demand upon member banks for loans on securities fell off considerably during January and February, but the growth was resumed in March, reflecting a resumption of activity in the securities market, and continued into May. The growth in the amount of credit used in the securities market during this period occurred notwithstanding a rapid rise of money rates in the open market, due in part to continued gold exports and to further sales of United States securities by the reserve banks. Between April 20 and June 7 discount rates Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 5 at all the Federal reserve banks were advanced from 4 to 4% per cent, and in July the rates in eight of the reserve banks were further raised to 5 per cent. Buying rates for bankers' bills were also gradually advanced, and ranged at the end of July from 4J^ to 5 per cent, according to maturities, compared with a range from 3 to 3^ per cent at the beginning of the year. The discount rate and open-market policy of the reserve banks in recent years is illustrated by the accompanying chart, which shows the security holdings of the reserve banks and the discount rate at the Federal Reserve Bank of New York, together with the total volume of reserve bank credit outstanding. It appears from this chart that security holdings of the reserve banks declined from over $600,000,000 in January, 1928, to less than $250,000,000 in June and remained at about that level during the rest of the year, while successive advances in the New York discount rate in February, May, and July carried it from 3V£ to 5 per cent. The dates on which discount rates were advanced by the different Federal reserve banks are shown in the following table, which brings out the fact that at the beginning of the year a uniform rate of 3 J^ per cent prevailed at all of the reserve banks, while at the end of the year the rate was 5 per cent in eight of the banks and 43^ per cent in the banks located in the western agricultural districts. DATES OF CHANGES IN DISCOUNT RATES BY FEDERAL RESERVE BANKS IN 1928 From V/i to 4 per cent From 4 to 4H per cent From 4H to 5 per cent Bank Date Bank Date Bank Date Chicago Jan. 25 Boston Apr. 20 Chicago July 11 Richmond Jan. 27 Chicago • Apr. 20 New York July 13 New York Feb. 3 St. Louis _- Apr. 23 Richmond July 13 San Francisco Feb. 4 Richmond. Apr. 24 Atlanta July 14 Minneapolis Feb. 7 Minneapolis Apr. 25 Boston July 19 Boston Feb. 8 Dallas May 7 St. Louis July 19 Dallas Feb. 8 Philadelphia May 17 Philadelphia- July 26 Kansas City Feb. 10 New York May 18 Cleveland.. Aug. 1 Atlanta Feb. 11 Cleveland May 25 Minneapolis Philadelphia Feb. 16 Atlanta May 26 Kansas City St. Louis Feb. 21 San Francisco June 2 Dallas Cleveland Mar. 1 Kansas City June 7 San Francisco In consequence of gold exports and security sales by the reserve banks during the first half of the year, the member banks rapidly increased their borrowings at the reserve banks, notwithstanding the advances in discount rates, and by midyear member bank indebtedness was in larger volume than at any time in the preceding six years. This heavy indebtedness caused member banks to reduce their holdings of investments and of loans on securities, and after the end of May, while their commercial loans continued gradually to increase, their total loans and investments, as shown on the chart on page 6, declined almost without interruption for a period of about three months. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
6 ANNUAL REPORT OF THE FEDERAL RESERVE BOiRD Federal reserve policy, as expressed in sales of securities and successive advances in discount rates, was thus an important factor during the larger part of 1928 in restraining the growth of member bank credit. From about the middle of May until toward the end of August the loans and investments of reporting member banks in leading cities declined considerably, but after the last of August the seasonal increase in demand for commercial credit and for currency, together with further growth in stock exchange activity, resulted BILLIONS OF DOLLARS BILLIONS OF DOLLARS 23 23 LOANS AND INVESTMENTS OF REPORTING MEMBER BANKS ( Monthly avera£$s of weekly figures ) 20 19 1927 1928 Based on revised series published in Federal Reserve Bulletin for January, 1929 in renewed growth in bank credit, which at the end of the year was higher than at any previous time. The growth in bank credit during this part of the year was accompanied by renewed growth, largely seasonal, in the volume of reserve bank credit outstanding. In the autumn of the year a larger volume of currency is needed for harvesting, industrial pay rolls, and retail trade, and member banks are also under pressure to provide increased reserves against the seasonal increase in their deposit liabilities. These have usually been met in part by increased borrowing and in part by increased sales of acceptances to the reserve banks. In 1928, however, the increase in acceptance holdings of the reserve banks during September, October, and November was sufficient to provide all of the autumn increase in the demand for funds, and in addition to permit member banks to reduce their borrowings, with the result that money rates declined for a time during a period of heavy seasonal demand for credit. The relatively favorable rates on acceptances as compared with other types of loans had resulted in Jan^unusual growth of this form of bank credit, and the high money Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD / rates prevailing in the open market rendered them unattractive to investors. As a consequence, a large part of the outstanding acceptances was offered for sale to the reserve banks, which held for their own account and for account of their foreign correspondents about two-thirds of the total volume of outstanding acceptances. During December offerings of acceptances to the reserve banks did not increase further, and the holiday increase in the demand for currency was met out of increased borrowing by member banks. The rapid increase in the bill portfolio of the reserve banks during the autumn, which enabled member banks to reduce their indebtedness at a time of seasonal increase in the demand for reserve bank funds, was accompanied by a relatively large growth in offerings of bills of maturities of over 30 days. System holdings of such acceptances increased from about $67,000,000 on September 5 to $260,000,000 on November 7. The bill portfolio of the system, therefore, was not only growing more rapidly than usual but was also becoming increasingly composed of longer term bills. A continued growth in the proportion of long-term bills in the acceptance portfolio of the reserve banks would have been undesirable because such bills would not fall due during the return flow of currency in January and thus would not absorb the funds that member banks receive during that period. For this reason the Federal reserve banks, in their purchases of acceptances in the last two months of the year, showed preference to short bills, and in January advanced their buying rates on bills, particularly of the longer maturities. POSITION OF RESERVE BANKS IN THE BANKING STRUCTURE In a period like the present, when the gold reserves of the country have been diminished by more than 10 per cent through gold exports, while member bank credit has continued to expand, it is appropriate to define the character and extent of the Federal reserve system's responsibility for changes in credit conditions. The Federal reserve system is under obligation to make such use of its own lending power as will be, in the broadest sense, in the interests of the business of the country. Since the reserve banks hold all the reserves of member banks, and through credit policy can influence the rate of growth of these reserves, the Federal reserve system has a responsibility, within the limit of its powers, for the character of growth in the total volume of member bank credit. Increased loans and. investments of member banks, regardless of the purpose for which the loan or investment is made, result in the creation of additional deposits. A growth in deposits, resulting from an increase in any class of loan or investment, in turn increases the reserve requirements of member banks and consequently their demand for reserve bank credit. Every Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
8 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD class of loan or investment, therefore, rests in the final analysis upon reserve bank credit, which is the base of the entire credit structure, and excessive or too rapid growth in any field of credit, whether it be commerce, industry, agriculture, or the trading in securities, is a matter of concern to the Federal reserve system. Too rapid expansion of bank credit in any field may result in serious financial disorganization and it inevitably leads to increased demand for reserve bank funds. Because the system has a broad responsibility for the general soundness of credit conditions, and because a growth of bank credit for any purpose ultimately leads to a demand for reserve bank credit, it is its duty to use its influence against undue credit expansion in any direction. In recent years the most rapid expansion of bank credit has been in the direction of increasing use of bank funds in investments and in loans on securities. Between the middle of 1925 and the middle of 1928 member bank holdings of investments increased from $8,863,000,000 to $10,758,000,000 and their loans on securities from $6,718,000,000 to $9,068,000,000. At the present time, of the total volume of nearly $35,700,000,000 of loans and investments of mem* ber banks, more than 57 per cent are either in investments or in loans on securities. Securities thus underlie considerably more than half of the outstanding volume of member bank credit. The proportion of bank credit that is based on securities has been rapidly increasing. When the question is considered in the light of the reserve banks* position as holders of the reserves against all member bank credit it becomes apparent that the Federal reserve system's responsibility is not limited to the control of funds obtained directly from the Federal reserve banks. There is no way of earmarking for special purposes the credit extended by the Federal reserve banks, and even if that were possible, it would still be true, under existing law, that the entire credit structure ultimately rests upon Federal reserve credit as a base; the reserve system has a correspondingly broad responsibility. It is a generally recognized principle that reserve bank credit should not be used for profit, and that continuous indebtedness at the reserve banks, except under unusual circumstances, is an abuse of reserve bank facilities. In cases where individual banks have been guilty of such abuse, the Federal reserve authorities have taken up the matter with officers of the offending banks and have made clear to them that their reserve position should be adjusted by liquidating a part of their loan or investment account rather than through borrowing. Abuses of the privileges of the Federal reserve system, however, have not been general among the member banks. The tradition against continuous borrowing is well established, and it is the policy of the Federal reserve banks to maintain it. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 9 BANKING POLICY AND CREDIT POLICY Influence exerted by a reserve bank on the loan and investment policy of an individual member bank is ordinarily exercised only over banks that are borrowers from the reserve banks. It is in the nature of banking supervision, and is akin in many respects to the bank examination function of the reserve system. This phase of reserve bank policy may be called banking policy, as distinguished from credit policy, which deals with more general developments of banking in relation to the credit needs of the country. Banking policy ordinarily has but limited effect on credit conditions as a whole, because no class of borrowers is confined for accommodation to any single bank or group of banks, and because of the general mobility of bank credit. When one member bank, for example, on its own initiative or at the instance of the reserve bank, repays indebtedness to the reserve bank by withdrawing funds lent on the stock exchange, the effect may be to cause the borrower to seek accommodation at another bank, member or nonmember, that is not indebted to the reserve bank. For the purpose of meeting the demand thus transferred without borrowing at the reserve bank, the bank to which the borrower applies may borrow from a member bank, which in turn may borrow from the reserve bank. As the result of this series of transactions there would be no reduction in security loans or in borrowings at the reserve bank. The importance of banking policy lies in promoting the soundness of member banks, and cooperation of these banks with the Federal reserve system in carrying out banking policy is essential to the maintenance of sound banking conditions. For influencing general credit conditions, however, the Federal reserve system relies on credit policy rather than on banking policy. Credit policy is essentially impersonal and finds expression chiefly through the influence that the Federal reserve system may exert on the volume and cost of bank credit through its policy of sales or purchases in the open market and through discount rates on memberbank borrowings and buying rates on acceptances. In determining upon credit policy the Federal reserve system is always under the necessity of balancing the advantages and disadvantages that are likely to follow a given course of action. Low money rates may have a favorable effect on domestic business, but at the same time may stimulate speculation in securities, commodities, or real estate. High money rates, on the other hand, may exert a moderating influence on speculation, but at the same time may result in a higher cost of credit to all lines of business, and thus be detrimental to commerce and industry; ultimately they may draw gold from abroad, which would tend to ease the domestic situation. It is impossible to foresee all the effects of a credit policy and difficult to appraise them even after 41223—29 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
10 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD they have developed. It is certain, however, that the Federal reserve system must steer its course with reference to broader developments and longer time objectives than day-to-day or month-to-month changes in any particular line of credit. Principal among such objectives are the continuous provision of credit at reasonable cost in amounts adequate for the requirements of trade and industry and the safeguarding of our gold reserves, which are held in trust to meet future needs, against unduly rapid absorption through expansion of credit. MONEY RATES Diminution of the country's gold reserves through exports, and the firm money policy of the reserve system, adopted in view of the MONEY RATES IN NEW YORK CITY 1921 1922 1923 192** 1925 1926 1927 1928 Prevailing rates in open market; monthly basis continued growth of security loans, were reflected in a rapid rise of money rates in 1928. The chart shows the course of rates in the New York market on acceptances; commercial paper, and call loans since 1922. After a rise in the first nine months of the year money rates declined somewhat in October and November, reflecting a reduction in memberbank indebtedness made possible through the sale of acceptances to the reserve banks. The autumn decline in rates, however, came to an end in the latter part of November, and in December rates, particularly for loans on securities, rose to the highest levels of the year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 11 Throughout the year the advance in money rates bore most heavily on open-market security loans in New York City. Between December, 1927, and December, 1928, rates on call loans on securities in New York rose from 4.38 to 8.60 per cent and on time loans on securities from 4-4% to 7-7% per cent, while open-market rates on commercial paper advanced from 4 to 5K-5K per cent, and on 90-day bankers' acceptances from 3/4 to 4}£ per cent. Among the reasons for the greater rise in rates for loans on securities than in rates for commercial paper has been the greater intensity of the demand for credit PERCENT CUSTOMERS RATES: - in 8 Other Northern and Eastern Cities OPEN MARKET RATE: — onh-6 months Prime Commercial Paper 1926 1927 1928 Figures for rates charged customers are weighted averages of prevailing rates in the securities market and the fact that security loans are not eligible for discount at the reserve banks. At a time when memberbank indebtedness at the reserve banks was large and increasing, member banks were inclined to accord preferential treatment to paper that could be rediscounted with the Federal reserve banks. Comparison of open-market rates with rates charged by member banks to their regular customers shows that customer rates increased much less than rates in the open market. This is brought out by the chart, which shows the course of open-market rates on commercial paper, compared with the movement of rates charged to customers Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
12 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD by member banks in New York City, by banks in 8 other cities in the North and East, and by banks in 25 cities in the South and West. The rates shown on the chart are averages for different kinds of loans made to customers, weighted by the volume of each class of bank loans and also by the volume of bank loans in the cities included in the averages. The chart brings out the fact that, while openmarket rates for commercial paper increased by nearly 13^ per cent during the year, rates charged to customers by New York banks and banks in 8 other cities in the North and East increased by little more than 1 per cent, and rates charged to customers by banks in southern and western cities increased by less than one-half of 1 per cent. These figures indicate that the greatest pressure of the higher money rates has been felt in the open market, where rates are most sensitive to changes in credit conditions, and that, geographically, advances in the level of rates charged customers have been largest in New York and other financial and industrial centers that are close to the money markets. Advances in rates charged to customers by banks throughout the greater portion of the South and West have been negligible. Among the factors causing this differential has been a preference accorded by member banks to their regular commercial and industrial customers as against borrowers in the open market with whom the banks have no established relationship. Among the rates on open-market paper, the lowest and the ones showing the smallest increases for the year were the rates on bankers' acceptances, which during the year were used in unusually large volume in financing the movement of agricultural and other products to market. ACCEPTANCES The use of bankers' acceptances has increased steadily in recent years, and at the end of 1928 American bankers' acceptances were outstanding to the amount of $1,284,000,000, the largest volume on record, approximately equal to the combined total of open-market time loans on securities in New York and of open-market commercial paper outstanding, and in excess of the total outstanding volume of United States Government obligations with maturities under six months. This is in contrast to the situation as recently as 1922, when the acceptance market was probably the smallest of the open markets. Since that time, as is indicated on the chart on page 14, the use of American bankers' acceptances has increased steadily, with only seasonal fluctuations. This increase has been particularly rapid since the summer of 1927, when rates on acceptances were below those ruling abroad. The summer recession was smaller than customary in 1928, and the rapid increase continued despite the fact that rates Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL KEPOBT OF THE FEDERAL EESERVE BOARD 13 in the acceptance market advanced. The volume of acceptances outstanding by classes in 1924, 1927, and 1928 is shown in the following table: DOLLAR BANKERS' ACCEPTANCES OUTSTANDING [End of December figures. In millions of dollars] 1924 1927 1928 Change, 1924-1928 Imports _ 292 313 316 +24 Exports ___ _ 306 391 497 +191 Domestic . 38 21 16 -22 Warehouse credits.._ 162 197 173 +11 Dollar exchange 23 28 39 +16 Based on goods stored in or in transit between foreign countries 131 243 +243 Total. 821 1,081 1,284 +463 Compared with December, 1924, the volume of acceptances outstanding at the end of 1928 was larger by $463,000,000. The larger part of dollar acceptances, as is shown by the table, is used to finance imports and exports of commodities. A large increase in the past three years has occurred in the volume of acceptances based on goods stored in or in transit between foreign countries. The growth of this class of acceptances may be due in part to a liberalization by the Federal Reserve Board of its rulings relating to acceptances in November, 1927. At that time the board ruled that "acceptances may be properly considered as growing out of transactions involving the importation or exportation of goods when drawn for the purpose of financing the sale and distribution * * * of imported or exported goods, * * * whether or not the bills are accepted after the physical importation or exportation has been completed." During 1927 the growth in acceptances outstanding was accompanied by corresponding growth in the demand for acceptances by investors and was not reflected in a growth in the portfolio of the reserve banks. This is indicated on the chart, which shows the distribution of the total volume of acceptances outstanding during recent years between those held by the reserve banks for their own account and those held by others. According to this chart, total holdings of the reserve banks fluctuated seasonally but showed little year to year growth between 1925 and the middle of 1928, while holdings by others increased rapidly during this period. A large part of this growth occurred in the portfolio of acceptances which the reserve banks purchased for the account of their foreign correspondents, which increased from $43,000,000 at the end of 1924 to $325,000,000 at the end of 1928. In the autumn of 1928, however, the demand for acceptances, particularly from abroad, declined, partly because of the relatively low yield on this type of invest- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
14 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD ment and partly because the total volume of foreign funds available for investment in acceptances was reduced by a cessation in offerings of long-term foreign loans in this market. As this came at a time when the volume of acceptances outstanding was rapidly increasing, the bill portfolio of the reserve banks increased by about $300,000,000 between August and November. MILLIONS OF DOLLARS MILLIONS OF DOLLARS 1300 AMERICAN BANKERS ACCEPTANCES OUTSTANDING 100 1925 1926 1927 1928 End of month figures. Total acceptances outstanding as reported by American Acceptance Council PROGRESS OF THE GOLD STANDARD During the year 1928 the reestablishment of the gold standard throughout the world was completed with the exception of a few countries. Italy returned to a gold basis on December 22, 1927, just prior to the beginning of the year; soon afterwards Estonia, Norway, and Greece returned to a gold basis, and on June 25 monetary reform was effected by France. On November 22 the parity of the Bulgarian lev was fixed by law, at a level approximating that which had prevailed since the end of 1923 ($0.0072, equals 92 levas per gram of fine gold). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD 15 Currencies of nearly all the principal countries now bear a definite relationship to gold, and their gold parities are in the majority of cases established by law, though in a few countries they are maintained as a matter of administrative practice. The return to gold has reduced the danger of wide fluctuations in foreign exchanges and has removed the obstacles to international trade arising from uncertainty of currency values. The progress of the gold standard during the past year has been accompanied by the withdrawal of a considerable amount of gold from the United States. The following table shows gold holdings of the central banks and governments of principal countries at the close of the years 1924 to 1928, and changes for the 4-year period: GOLD HOLDINGS OF CENTRAL BANKS AND GOVERNMENTS [End of December figures. In millions of dollars] 1924 1925 1926 1927 1928 Change, 192M928 United States: .. 4,090 3,985 4,083 3,977 3,746 -344 France 710 711 711 954 1,254 +544 England 757 703 735 742 750 Germany 181 288 436 444 650 +469 Argentina 2-_ 444 451 451 529 607 +163 Japan 586 576 562 542 541 —45 Spain. 489 490 493 502 494 +5 Italy . _. 218 219 221 239 266 +48 Netherlands 203 178 166 161 175 -28 Other countries 1,238 1,290 1,304 1,424 1,497 +259 Total. . 8,916 8,891 9,163 9,514 9,981 1,065 1 Treasury and Federal reserve banks. 2 Argentine Government (conversion fund) and the Bank of the Nation. Growth during recent years in the total of central gold holdings has represented for the most part the excess of gold production over consumption by the arts and absorption by India, but has reflected also the acquisition of gold by central banks from private hoards and the release for monetary use of gold previously held as security for loans. In 1925 India took a large amount of gold, and monetary gold holdings were somewhat diminished in that year. In the succeeding three years, however, takings by India were much smaller, and to the product of the mines was added the gold released from pledge and returned from private or unreported holdings As a result, holdings of central banks and governments increased $272,000,000 in 1926, $351,000,000 in 1927, and $467,000,000 in 1928. The addition to central gold holdings during 1928 was more than the total amount of new gold mined during the year. The total increase in central gold reserves for the period was in excess of $1,000,000,000 and increases were shown by all the countries listed in the table, with the exception of the United States, Japan, and Netherlands, all of which had relatively large gold reserves at Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
16 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD the beginning of the period; a small decrease was shown also for England. If the gold withdrawn from these four countries be added to the gold derived from other sources, it appears that the central institutions outside of these four countries have increased their gold reserves by nearly $1,500,000,000 during the last four years. Of this amount, $544,000,000 went to France, $469,000,000 to Germany, $163,000,000 to Argentina, and $95,000,000 to Brazil. Increases in the gold stock of other countries were relatively small, but a large number of countries not listed in the table showed an increase in gold reserves amounting in the aggregate to over $250,000,000. The United States is the only country which lost a considerable amount of gold over the period, and the proportion of central gold reserves that are held in the United States declined from 45.9 per cent in 1924 to 37.5 per cent in 1928. The loss of gold reserves by the United States, however, still leaves the Federal reserve banks in a strong reserve position, while the increase in the gold holdings of foreign countries has increased the security of the gold standard in the world. The reserve position of nearly all the important central banks of Europe improved during the past year, and this improvement has been brought about in part through the transfer of gold from the United States. The credit policies of the Federal reserve system, which during the period from 1924 to 1927, when the gold standard was being reestablished, were a factor favoring the redistribution of gold, have, therefore, contributed to the maintenance of the gold standard and indirectly to the improvement of world trade. The return to free gold movements has also reduced the fluctuations of the exchanges to a range within the gold points, and has brought about a closer adjustment of money rates at the principal money markets and a closer interrelationship in the movements of commodity prices in different countries. Reestablishment of these relationships has had the important consequence, from the point of view of the Federal reserve system, of restoring at least in part the influences that under the gold standard have tended to correct excessive credit expansion in any country that takes an important part in international finance and trade. OPERATIONS OF THE FEDERAL RESERVE SYSTEM In the preceding pages there has been presented a brief discussion of business and banking developments in 1928 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 1928. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 17 FEDERAL RESERVE BANK CREDIT IN 1928 Keserve bank credit outstanding increased rapidly throughout 1928, and for the year as a whole was larger than in any other year since 1921. This increase was due chiefly to loss of gold during the first half of the year, and thereafter to the seasonal increase in the ^ RESERVE BANK CREDIT OUTSTANDING AND PRINCPAL FACTORS IN CHANGES MILLIONS OF DOLLARS MILU-iS OF DOLLARS 5400 .fll 1925 1926 1927 1928 Based on weekly averages of daily figures demand of the public for currency, as shown on the chart, which illustrates for the last five years the course of reserve bank credit in relation to the major factors by which changes are accounted for— monetary gold stock, money in circulation, and member bank reserve balances. The principal factor of increase in demand for reserve bank credit during the year was the decrease in gold stock, which was a con- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
18 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD tinuation of the movement that started in May of 1927 and which in the course of a year reduced the gold stock of the country from the highest level on record to the lowest level since August, 1923. During the latter part of 1928 net changes in gold stock were relatively small. The decrease in member bank reserve balances during the first half of 1928 reflected chiefly a decrease in net demand deposits in the principal banking centers, which resulted partly from the withdrawal of deposits in the form of gold and partly from their conversion into call loans. These lower requirements for reserves offset in part the effect of gold withdrawals until the autumn months, when an increase in member bank deposits increased the demand of member banks for reserve balances to about the same level as at the end of the preceding year. The effect of gold exports on the demand for reserve bank credit was also offset in part by the fact that the demand for money in circulation averaged less during 1928 than in any other year since 1922. Demand for currency showed less than the usual seasonal increase in the last half of 1927, and more than the usual decrease after the peak of the demand was reached. By the middle of April the total volume of money in circulation was $160,000,000 smaller than in the same week in the preceding year. Between the end of July and Christmas the seasonal increase in currency demand was larger than in 1927, with the result that by December the volume of money in circulation had increased to a level only $40,000,000 below that of a year earlier. The reasons for the sharp decline in the general level of currency requirements between the middle of 1927 and the early part of 1928 are not entirely clear. At the outset it reflected in some measure the decline in industrial production, and in factory pay rolls and employment, which until the late summer of 1928 continued in smaller volume than in the same period of the previous year. That the total volume of money in circulation remained below the level of the year before, even after the upturn in business activity in the summer, is to be attributed in part to the fact that member banks carried smaller aggregate amounts of vault cash in 1928 than in 1927, owing to a desire to use all available surplus cash in reducing the heavy borrowings at the reserve banks. Another factor tending to diminish the demand for currency was lower retail prices for certain commodities. In addition to the major factors which account for changes in reserve bank credit and which are shown on the chart, there are various other factors of importance. The following table shows the change for the year in reserve bank credit outstanding and in each of the principal factors in accounting for this change: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
A.NNUAX REPORT OF THE FEDERAL RESERVE BOARD 19 FACTORS INCREASING AND DECREASING DEMAND FOR RESERVE BANK CREDIT BETWEEN DECEMBER, 1927, AND DECEMBER, 1928 [Monthly averages of daily figures. In millions of dollars] Factors increasing demand for reserve bank credit outstanding: Decrease in monetary gold stock 274 Increase in unexpended capital funds * 47 Decrease in Treasury credit 2 5 Increase in nonmember clearing balances 3 2 Total 328 Factors decreasing demand for reserve bank credit outstanding: Decrease in money in circulation 40 Decrease in member bank reserve balances 32 Total 72 Net increase in reserve bank credit outstanding 256 The volume of reserve bank credit outstanding showed an increase of $256,000,000 for the year as a whole. This increase is accounted for, disregarding minor items, by a loss of $274,000,000 in the stock of monetary gold and an increase of $47,000,000 in unexpended capital funds of the reserve banks, offset in part by a decrease of $40,000,000 in money in circulation and $32,000,000 in member bank reserve balances. The increase of $47,000,000 in "unexpended capital funds" during 1928 represents the difference between the amounts paid into the reserve banks for capital, earnings, etc., and the amount returned to the market for expenses, buildings, dividends, franchise taxes, etc. EARNINGS, EXPENSES, AND VOLUME OF WORK OF THE FEDERAL RESERVE BANKS Total earnings of the reserve banks were $64,053,000 in 1928, a larger total than in any earlier year since 1921 and in excess of those for 1927 by more than $21,000,000. This increase in earnings over those of the year before was due largely to an increase of $343,000,000 in the banks' average daily holdings of bills and securities and to the fact that the average rate of earnings increased from 3.60 per cent in 1927 to 4.24 per cent in 1928. The increase in the average rate of return on total bills and securities was due both to a higher rate of return on each class of earning assets and to the fact that holdings of United States Government securities, having yields lower than the discount i Represents increase of $15,000,000 in capital of the Federal reserve banks, $4,000,000 in their surplus account, and $22,000,000 in "All other liabilities," plus decrease of $6,000,000 in the combined total of "Bank premises" and "All other resources." 8 This figure includes the effect of changes in Treasury balances at the reserve banks, which were itemized separately in corresponding computations for 1927 as given on page 18 of the Board's Annual Report ffno-rr 11Q99277. 3 Including balances due to foreign banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
20 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD rate, were substantially less and therefore constituted a much lower proportion of earning assets than in 1927. Holdings of discounted bills averaged $839,942,000 daily during 1928, as compared with $442,287,- 000 in 1927, and owing to a series of increases in discount rates the average return on discounted bills was 4.56 per cent, as compared with 3.83 per cent in 1927. The increase in the amount of member bank borrowings from Federal reserve banks, together with the higher rate of return, resulted in an increase in earnings on discounted bills from $17,011,000 in 1927 to $38,334,000 in 1928. Average daily holdings of bills bought in open market were larger than in any preceding year since 1920 and exceeded those of 1927 by $64,500,000, while average daily holdings of United States Government securities were $297,499,- 000, as compared with $417,480,000 in 1927. Average daily holdings of bills and securities, earnings thereon, and rates of return for each of the past six years are given in the following table: AVERAGE HOLDINGS OF BILLS AND SECURITIES AND EARNINGS THEREON [Amounts in thousands of dollars] Bills and securities held by all Federal reserve banks United Total B co il u ls n t d e i d s- o b p o e u B k n g i e l m h l t s t a i r n - m G e S r n o i t t v t a i e t s e e e r s s n c - u- 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 Daily average holdings: 1923 1,150, 570 738,114 226,548 185, 823 85 1924 950, 317 374,834 172,428 401, 365 1,690 1925 1,139, 507 481, 515 287, 329 358, 962 11, 701 1926 1, 209, 309 570, 613 281, 386 349,790 7,520 1927 1,124, 538 442, 287 * 263,258 417,480 •1,513 1928 1, 467, 371 839,942 327, 806 297,499 2,124 Average rate of earnings (per cent): 1923 _ _ 4.33 4.46 4.14 4.01 4.50 1924 . 3.83 4.25 3.31 3.67 3.61 1925 3.51 3.67 3.17 3.56 3.59 1926 3.76 3.95 3.55 3.60 4.21 1927 . 3.60 3.83 3.49 3.41 3.88 1928 4.24 4.56 3.97 3.64 4.34 Earnings: 1923 49, 775 32, 956 9,371 7,444 4 1924 _ 36, 426 15,943 5,710 14, 712 61 1925 39, 986 17,680 9,104 12,783 419 1926 45, 460 22, 552 10, 003 12, 589 316 1927 40, 482 17,011 9,207 14, 206 58 1928 . . . 62, 275 38,334 13,021 10,828 92 * Revised. Total operating expenses of the Federal reserve banks, exclusive of the cost of Federal reserve currency, aggregated $26,099,000 in 1928, as compared with $25,674,000 in the year 1927. The cost of printing Federal reserve notes, including shipping charges to the Federal reserve banks and the cost of redeeming mutilated Federal reserve notes, was $805,000 in 1928, compared with $1,845,000 in 1927. The number of Federal reserve notes printed in 1928 was 54,900,000, compared with 174,700,000 in 1927. The reduction in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
21 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD the number of Federal reserve notes printed in 1928 was in anticipation of the adoption of the smaller size currency expected to be put into circulation on or about July 1, 1929. While the average number of officers and employees decreased from 10,132 in 1927 to 10,095 in 1928, there was a substantial growth in the volume of work handled by the principal departments of the banks, as will be noted from the following table showing the work handled in the principal departments during 1928 and the three preceding years: VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1925 1926 1927 1928 NUMBEK OF PIECES HANDLED Bills discounted: Applications.. 116,000 123,000 97,000 123, 000 Notes discounted _ 475,000 506,000 371,000 I 443, 000 Bills purchased in open market for I own account _. 201,000 232, 000 254,000 251,000 Currency received and counted 1, 947, 419, 000 2, 099, 605,000 •2,194, 608,000 2, 270,555,000 Coin received and counted 2, 329,014,000! 2, 590,057, 000 2, 691,184,000 2,929,091,000 Checks handled.. _ 778,686,000 822,907,000 862, 275,000 887, 997, 000 Collection items handled: United States Government coupons paid 44,174,000 39,678,000 37,045,000 28, 765,000 Allother 5,467, 000 5, 595, 000 5, 909,000 6,461,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 7,116,000 4,691,000 7, 201, 000 6,682, 000 Transfers of funds 1, 566,000 1, 710, 000 1, 830,000 2,011,000 AMOUNTS HANDLED Bills discounted $32, 562,620,000$37,682,137,000 $31,934, 607, 000 $62,412,961,000 Bills purchased in open market for own account 2,961,170, 000 3, 353, 326,000 4,050, 867,000 4,240,669,000 Currency received and counted 11, 556,980,000 12, 584,960,000 •12,939,578,000 13,315,551,000 Coin received and counted 467,732,000 609, 359,000 791,049, 000 888, 621,000 Checks handled 258,611, 276,000 272, 945,160, 000 278, 399, 627, 000 301,703,814,000 Collection items handled: United States Government coupons paid 680, 921,000| 644, 273, 000 553,703, 000 543, 373. 000 All other 6,116,958,000 6, 219, 361, 000 6, 710, 317,000 7,414,440,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 5, 578,995,000 4,971,442,000 10,803,043, 000 9,002,383,000 Transfers of funds .__ 109,430,683,000 120,909,439, 000 136,383,899,000 148,749,027,000 * Revised. The number of items handled in the cash department increased by over 6 per cent in 1928 as compared with 1927 and the number of checks handled by more than 3 per cent, and the amounts both of checks and of currency and coin handled in 1928 reached new record totals of $301,704,000,000 and $14,204,000,000, respectively. Discounts by the Federal reserve banks for member banks totaled $62,413,000,000 for the year, purchases of bills in the open market $4,241,000,000, Government coupons paid $543,000,000, noncash items collected for member banks $7,414,000,000, transfers of funds for member banks $148,750,000,000, and redemptions and exchanges of United States securities for the Treasury $9,002,000,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
22 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Principally in consequence of the increase in gross earnings,, current net earnings for 1928, which amounted to $37,148,000, exceeded those of 1927 by $21,000,000. With the approval of the Federal Reserve Board the banks charged their current net earnings with $1,959,000 for depreciation on bank premises, with $639,000 for furniture and equipment purchased during the year, with $581,000 for reserves for probable losses on paper of failed banks, and with $628,000 for reserves for self-insurance. After making these charges and other deductions, including a net loss of $1,595,000 on the sale of United States securities, there was a balance of $32,122,021 available for dividends, surplus, and franchise tax. The 6 per cent dividend to member banks on their paid-in capital stock of the Federal reserve banks amounted to $8,458,463, and of the remainder $21,- 078,899 was transferred to surplus accounts in accordance with section 7 of the Federal reserve act and $2,584,659 was paid to the United States Government as a franchise tax. Section 7 of the Federal reserve act provides that all net earnings of the Federal reserve banks shall be transferred to their surplus accounts until such accounts amount to 100 per cent of their subscribed capital, and that thereafter 10 per cent of net earnings shall be paid into surplus accounts and 90 per cent to the Government as a franchise tax. At the end of 1928 the Federal Reserve Banks of Richmond, Atlanta, St. Louis r Minneapolis, Kansas City, and Dallas, all had surplus accounts in excess of their subscribed capital, and, therefore, each paid a franchise tax to the United States Government. All net earnings of the six other reserve banks remaining after the payment of dividends, $16,111,000, were transferred to their surplus accounts. Notwithstanding the consequent increase in the surplus accounts of these banks, the excess of their subscribed capital over surplus at the end of 1928 was substantially greater than at the end of 1927, owing to increases in the amount of their capital stock as a result of increases during the year in the amount of capital and surplus of member banks in their districts. The total subscribed capital of the Federal reserve banks on January 1, 1929, amounted to $293,870,000 and their surplus accounts to $254,398,000. Gross and net earnings during the year and the distribution of net earnings of each Federal reserve bank are shown in the following table: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 23 FINANCIAL RESULTS OF OPERATION OF THE FEDERAL RESERVE BANKS DURING 1928 Net earnings avail- Federal reserve bank ea G rn ro in ss gs d s i a v u b i r l d p e e l u n fo s d r , s, Div p i a d i e d nds T to r a a c n s c u s o f r e u p r n l r u t e s d F t r a U a x n n i c p t h a ed i id se and States franchise tax Boston __ $4,465,342 $2, 316,522 $590,830 $1, 725, 692 New York _ 18,483,042 11,018,433 2, 743, 725 8,274, 708 Philadelphia 5,394,546 3, 282, 641 843, 755 2,438,886 Cleveland 6,250, 553 3,180, 715 856,843 2, 323, 872 Richmond 2,857,648 1,118,960 370, 683 74,828 $673, 449 Atlanta _ j 3, 578,156 1, 693,985 312,259 558,425 823, 301 Chicago 8,936,418 4, 763,429 1,099, 761 3, 663, 668 St. Louis _ — | 2,901,925 785,159 321,855 423, 011 40, 293 Minneapolis 1,710, 304 614, 704 181, 203 43, 350 390,151 Kansas City ___! 2,597,968 659, 760 253, 254 40,651 365,855 Dallas. 2,119,666 713,455 258, 544 163, 301 291, 610 San Francisco.. 4, 757, 292 1,974,258 625, 751 1,348, 507 Total. 64, 052,860 32,122,021 8,458,463 21,078,899 2, 584, 659 BRANCHES AND AGENCIES OF FEDERAL RESERVE BANKS All of the branches and agencies of the Federal reserve banks which were in operation at the end of 1927 continued to function throughout 1928. The volume of work handled by the branches and agencies in their principal operating departments has continued to increase, as may be seen by the following comparisons for 1925, 1926, 1927, and 1928: VOLUME OF OPERATIONS OF FEDERAL RESERVE BANK BRANCHES AND AGENCIES 1925 1926 1927 1928 Checks handled: Number of items __ 230, 685,000 240, 818,000 253, 322,000 268,814, 000 Amount — _ .. ._ $60,989, 227,000 $64, 716,081, 000 $64, 724,395, 000 $68, 273,066, 000 Currency received and counted: Number of pieces 451,132,000 492,936, 000 497,795,000 535, 352,000 Amount $2, 621,983,000 $2, 893, 286,000 $2, 801,165,000 $2,939,837,000 Coin received and counted: Number of pieces _ 393, 994, 000 416,936,000 441,072,000 453, 200,000 Amount $63, 619,000 $66, 361,000 $63, 450, 000 $67,949, 000 Current expenses during 1928 for the 25 branches and 2 agencies in operation during the year were $5,770,000, as compared wdth $5,387,000 in 1927. BUILDING OPERATIONS OF FEDERAL RESERVE BANKS The building for the use of the Baltimore branch, construction of which was begun in 1927, was completed in 1928 and was occupied on September 4. Construction of buildings for the use of the San Antonio and Memphis branches was begun in 1928, and the building for the San Antonio branch was occupied on October 6. Plans are Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
24 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD now in preparation for a building for the Los Angeles branch. The building purchased for the use of the Buffalo branch was occupied by the branch on May 26, 1928, and alterations in the building subsequently undertaken were practically completed at the end of the year. Alterations in progress at the end of 1927 in the building at No. 10 Gold Street, owned by the Federal Reserve Bank of New York, with a view to adapting the building for rental purposes, were completed in 1928, and this building, as well as the Annex building, is now occupied by tenants. Quarters in the new Chamber of Commerce Building in Cincinnati had been made ready for the Cincinnati branch by the end of 1927 by the construction of a vault and the installation of other special equipment and were occupied on January 3. Occupancy of quarters in this building, constructed on the site owned by the Federal Reserve Bank of Cleveland and leased to the Chamber of Commerce for a period of 99 years, is to continue for a minimum period of 25 years. Provision for the lease of quarters for the Habana agency of the Federal Reserve Bank of Atlanta for an extended period was also made during the year, including the installation of a vault, and the new quarters were occupied by the agency on December 19. CHANGES IN MEMBERSHIP During 1928 there was a net decrease of 197 in the number of banks in active operation in the Federal reserve system, as indicated by the number of banks submitting the required reports of condition at the beginning and end of the year. On December 31, 1928, there were 8,837 member banks in the system, compared with 9,034 banks on December 31, 1927. Membership at the end of 1928 included 1,208 State banks, which was 67 less than a year earlier, and 7,629 national banks, which represented a decrease of 130 for the year. As in other recent years, the decline in the number of member banks resulted largely from mergers between member banks, suspensions, and voluntary liquidations, as brought out in the accompanying table. CHANGES IN MEMBERSHIP DURING 1928 Number of banks Active member banks Dec. 31, 1927- 9,034 Banks joining the system l ___ _ _ ___ _. 115 Banks withdrawing from the system 2 _ 120 Net loss owing to withdrawals _ _ _. 5 Decrease in membership through mergers between member banks, suspensions, voluntary liquidations not intermediate in some further change in status, etc 192 Net decrease for the year. 197 Active member banks Dec. 31,1928.. 1 Not including 37 nonmember banks absorbed by member banks without effect on membership in system. Digitized for F^RInAcSluEdiRng 59 member banks absorbed by nonmember banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 25 During the year 115 banks joined the system and 120 banks withdrew, resulting in a net loss of 5 banks on account of withdrawals. However, the banks here designated as joining the system do not include 37 nonmember banks that were absorbed by member banks, and the withdrawals include 59 banks whose action was incidental to merger with nonmember banks. The banks which joined include 70 newly organized national banks and 40 State banks—17 that became members by converting into national banks and 23 that were admitted with State charters. There were also 5 banks which, having previously suspended operations, reopened again during the year. The banks shown in the table as withdrawing include in addition to 37 State banks that withdrew voluntarily after required advance notice to the Federal Reserve Board, 24 that went into liquidation to be succeeded by nonmember banks organized for the purpose, and 59 that were absorbed by existing nonmember banks. Mergers between member banks accounted for the loss of 108 banks in 1928, as against 146 in 1927, and suspensions for the loss of 72, as against 124 in 1927. There were 9 instances in which voluntary liquidation, terminating the existence of member banks, was not intermediate in some further change in status. Three banks were compelled to withdraw by reason of violations of the Federal reserve act. Bank suspensions and mergers affecting members of the Federal reserve system—including mergers between member banks and between member and nonmember banks—are discussed in some detail elsewhere in this report. In the following table changes in membership for the year 1928 are summarized, by class of member bank: CHANGES IN THE NUMBER OF NATIONAL AND STATE BANK MEMBERS DURING 1928 Number of member banks Procedure effecting change Total National State Active member banks, Dec. 31, 1927 _ _ _ 9,034 7,759 1,275 Additions to membership: Organization of national hank . .., . ,.,- „. 70 70 Conversion of nonmember bank to national 17 17 Admission of State bank- 23 23 Resumption following suspension 5 2 3 Conversion within the system l5 14 Total additions. 115 94 30 Losses to membership: Merger between member banks— Intraclass 78 70 8 Interclass 30 19 11 Voluntary liquidation (terminal) 9 6 3 Suspension and insolvency. .. 72 56 16 Absorption of member bank by nonmember bank 59 50 9 Conversion of member bank to nonmember bank. __ 24 19 5 Withdrawal of State bank 40 2 40 Conversion within the system U 15 Total losses _ 312 224 97 Net decrease _, 197 130 67 Active member banks, Dec. 31, 1928 8,837 7,629 1,208 i Conversions between the two classes of member banks, without effect on total membership in system. * Including 3 compulsory withdrawals. 41223—29 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
26 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD BANK EXAMINATIONS The board, through its Division of Examination, conducted at least one examination of each Federal reserve bank during the year; two of the reserve banks were examined twice. The one corporation operating under the provisions of section 25a of the Federal reserve act, generally referred to as the Edge Act, providing for banking corporations authorized to do foreign banking business, was also examined during the year. Four other banking corporations operating under an agreement with the board, as provided for in section 25, three of which are domiciled in Boston and one in New York City, were also examined. BANK SUSPENSIONS General improvement in the condition of banks during the year was reflected in a decline from 662 in the number of banks that suspended operations in 1927 to 491 in 1928. The number of suspensions was smaller in 1928 than in any previous year since 1922, when 354 banks suspended, and was about one-half as large as the number reported in 1926. The deposits of closed banks aggregated $139,000,000 in 1928, about $55,000,000 less than in 1927, and about $134,000,000 less than in 1926, when both the number and deposits of suspending banks were the largest on record. Among member banks, which constitute about one-third of the total number of banks in the country and have about three-fifths of the aggregate deposits of all banks, there were 73 suspensions in 1928, or about 15 per cent of the total for the year; the deposits of suspended member banks were $42,000,000, or about one-third of the total deposits of all suspended banks. Both the number and deposits of suspended member banks were considerably smaller in 1928 than in any year since 1922. During 1928, 39 banks, which had previously suspended, resumed operations, as against 95 banks the year before. Of the reopened banks, which had deposits of nearly $16,000,000 at the time of suspension, 5 with deposits of about $7,000,000 were members of the Federal reserve system, and 34 with deposits of about $9,000,000 were nonmembers. The number and deposits of suspended banks are shown in the following table for the past eight years, by class of bank: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 27 BANK SUSPENSIONS, 1921-1928 Number of suspensions Deposits (in millions of dollars) Year Total M b e a m nk b s er m b N e a m o n n k b - s er Total M b e a m nk b s er m b N e a m o n n k b - s er 1921 502 70 432 198 43 156 1922 354 57 297 111 24 86 1923 650 124 526 189 51 138 1924 777 159 618 213 74 139 1925 612 146 466 173 67 106 1926 956 160 796 272 69 204 1927 662 124 538 194 66 128 1928 491 73 418 139 42 96 That bank failures were less numerous in 1928 than in other recent years was due in part to the elimination, through failure in previous years, oi many weaker institutions and in part to the improvement of the condition of banks in operation. Decline in the number of suspensions in 1928 was largest in the middle western and western Federal reserve districts, as shown in the accompanying table. NUMBER OF BANK SUSPENSIONS, BY FEDERAL RESERVE DISTRICTS, DURING 1927 AND 1928 Total Member banks Nonmember banks Federal reserve district 1928 1927 1928 1927 1928 1927 All districts - 491 662 73 124 418 538 Boston _ 1 1 1 1 New York 3 2 3 2 Philadelphia 1 1 Cleveland __ 17 29 4 12 13 17 Richmond 43 43 10 8 33 35 Atlanta - _ . _ 66 63 6 59 57 Chicago 87 124 21 34 66 90 St. Louis 57 82 2 7 55 75 Minneapolis 94 142 10 21 84 121 Kansas City 88 100 9 12 79 88 Dallas ; 24 44 5 9 19 35 San Francisco 10 32 3 15 7 17 Decrease in the number of suspensions was for the most part in agricultural areas, particularly in Illinois, Tennessee, Minnesota, Iowa, Missouri, South Dakota, Kansas, Oklahoma, and Texas. Suspensions were more numerous in 1928 than in 1927 in 11 States. The increases were small, except in the case of Nebraska where the number increased from 25 to 50, due largely to the closing of banks which had previously been taken over and were being operated by the Guaranty Fund Commission, and in Georgia, where there were 26 suspensions in 1928 as against 18 in 1927. The following table shows the number and deposits of banks that suspended operations in these and other selected States, which together accounted Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
28 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD for about four-fifths of the total number of bank suspensions both in 1927 and in 1928: BANK SUSPENSIONS IN SELECTED STATES DURING 1927 AND 1928 Number of suspensions Deposits (in millions of dollars) State Increase Increase or de- or de- 1928 1927 crease 1928 1927 crease in 1928 in 1928 Iowa 51 70 -19 12 21 —9 Nebraska . ._ - 50 25 +25 9 8 +1 Minnesota . 46 65 -19 10 14 -4 N Fl o o r r t i h d a Dakota 3 3 5 8 3 3 1 7 ++14 2 5 1 2 Q 8 -8 M Ge i o ss rg o i u a ri __ 2 3 6 1 4 1 8 8 —+ 187 1 4 3 6 1 + — 12 2 TTftnsflp , , 26 36 —10 4 5 Indiana 24 25 -1 5 11 -6 T So ex u a th s C ._ a rolina _- - -_ .. 2 2 3 2 3 2 8 1 - + 15 1 7 7 7 6 +1 Illinois -_- 18 29 -11 5 11 -7 South Dakota _ _ _ .. 7 27 -20 2 5 -3 Oklahoma 5 28 -23 1 6 -5 Tennessee - _ 4 17 -13 3 3 Allother- 85 147 -62 32 55 -26 Total 491 662 -171 139 194 -55 That suspensions in 1928, as in earlier years, were most numerous among small banks located in relatively small centers is indicated in the following table: BANK SUSPENSIONS IN 1928, CLASSIFIED ACCORDING TO SIZE OF BANK AND SIZE OF CENTERS IN WHICH LOCATED Banks with capital of— N pe u s n m u d s b - e e d r P su e s o r s i f o p c n a 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 c e of n — ters with N pe u s n m u d s b - e e d r P su e s o r s i f o p c n a e e l s n l n - t Less than $25,000 191 38.9 Less than 500-. 207 42.2 $25,000 106 21.6 500 to 1,000 93 18.9 $25,001 to $50,000 38 7.7 1,000 to 1,500... 48 9.8 $50,000 to $100,000 94 19.2 1,500 to 2,500... 52 10.6 $100,000 to $200,000 46 9.4 2,500 to 5,000... 33 6.7 $200,000 to $500,000, inclusive- 11 2.2 5,000 to 10,000.. 18 3.7 Figures not available ' 5 1.0 10,000 and over. 40 8.1 Total. 491 100.0 Total.... 491 100.0 BRANCH BANKING For the period of 16 months, from February 25, 1927, the date on which the Federal amendatory act defining branch banking powers of member banks became effective, to June 30, 1928, some extension of branch banking in particular States and urban communities is indicated in the returns covering developments of this character made to the board in June.1 Of the 779 national, State member, and nonmember * Tabulations covering these returns are published in the Federal Reserve Bulletin for February, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 29 banks which were operating branch offices at the beginning of this period, 10 discontinued all such offices during the period, 4 suspended operation on account of financial difficulties, and 39 merged with other banks. In the same period 109 banks initiated branch banking, giving a net increase of 56 for the number of banks operating branches. The increase of 330 shown for the number of branches operated by banks of all classes covered 144 cases of independent banks acquired and converted into branch offices, and 258 cases of establishment of offices de novo as branches, with deduction for 72 cases of discontinuance of established branches. Within the branch banking area as a whole, composed of States which permit banks to establish branch offices, increase in the number of such offices during the year ended June 30, 1928, more than offset the decrease shown for these States in the number of independent banks. As indicating the extent to which branch banking developments have been confined to certain States and urban communities, it may be noted that of the 3,230 branch offices in operation at the end of June, 1,855, or more than one-half, were reported for banks located in three States—California, New York, and Michigan—and over 1,500 for banks located in four cities of these three States—San Francisco, Los Angeles, New York, and Detroit. In California, where 63 out of 496 banks of all classes were operating 826 branch offices, such offices constituted nearly two-thirds of the total banking offices serving the public in the State, including in this total independent banks and their branches. This proportion was not approached in any other State. In New York, the State reporting the second largest number of branches, where 112 out of 1,146 National and State banks were operating 607 branches, and in Michigan, the third State in respect to number of branches, where 64 banks were operating 422 branch offices, the proportion of branches in the total banking offices was approximately one-third. It also amounted to one-third in Louisiana and Maryland and to one-fifth or more in Massachusetts, Maine, and Ohio, but was much lower in other States which permit banks to establish branches. Under present provisions of State banking codes 10 States permit the establishment of branches in and outside the home city of the parent bank, including in this group 2 States in which no branches have been established; 10 States permit the establishment of branches only in the home city or county of the parent bank, or in territory contiguous thereto; 22 States do not permit banks to establish any branch offices either in or outside the home city, in 10 of which States banks are permitted to continue in operation branches established prior to enactment of the prohibitory legislation; and 6 States, in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
30 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD which no branches are in operation, do not by law expressly permit or prohibit the establishment of branches. In 12 of the 28 States in which banks were operating branches on June 30, there had been no change over the period under review in the number of such banks, while decreases were shown for 5 States and increases for 11. The number of branches remained unchanged in 10, decreased in 2, and increased in 16 States and in the District of Columbia. The more considerable increases in number of branch offices were shown for New York (90), California (64), and New Jersey (61). A decrease over the period of 340 in the number of branches operated by State member banks and an increase of 551 in the number of national bank branches reflected largely the merger and nationalization of State branch systems, and the development of branch banking under national charters in California. It should be noted, however, that extensive merger procedures consummated in this State during the last half of 1928 materially modified the distribution of branches as between national and State banks. These procedures included the taking over late in December by a nonmember bank of a national bank operating 35 branches and the absorption earlier in the same month of some 30 national and State banks with their branches and resulted in the building up of a nonmember branch system of nearly 140 branches. A large proportion of the banks operating branches on June 30 were country banks operating only one or tw~o branches in near-by communities. Of the 1,016 branches located outside the home city of the parent bank on this date 700, or more than two-thirds, were located in places of less than 5,000 population, 572 of these offices being located in places of less than 2,500. Nevertheless, important developments of branch banking during the past two years have taken place in some of the larger urban centers, in which the number of branches and the size of individual branch systems have generally increased. CHAIN BANKING What has come to be known as the chain-banking relationship covers a wide range of association of banking institutions under single control exercised principally through stock ownership by an individual or group of individuals, or by a holding, or investment, or financing company, or in some instances by a bank either directly or indirectly through a subsidiary company. Generally the immediate agency of control in such an association is not a banking institution. A characteristic of chain systems, which differentiates them from branch systems, is found in the composition of chain-banking groups, which frequently embrace in the same chain both national and State institutions, and may also embrace institutions located in two or more States. While the informal and constantly shifting Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 31 affiliations of this character are not susceptible of precise statistical measurement, it would appear that, outside of California and a few other States of the branch-banking area, the more considerable development of chain banking has been generally in certain of the States which prohibit the establishment of branch offices by banks. In States which permit the establishment of such offices, an alternative to chain banking is presented in the possibility of developing branch systems, but even within what has been defined as the branchbanking area some development of chain banking has occurred. Nevertheless, in a majority of the States which permit banks to establish branch offices no developments or only inconsiderable developments of chain banking have occurred—more specifically, in 11 of the 21 States of the branch-banking area no chain banking developments have been reported; in 4 additional States of this area the development was restricted to one instance, and in 2 States to three or four instances with a maximum of 7 banks embraced in any one chain. In two of the four remaining States of this area— New Jersey and New York—affiliations of two to four banks are not uncommon, and four instances of chains embracing six to eight banks were specifically enumerated. Individually controlled groups of banking institutions in Michigan included one chain of 16, one of 9, and two of 5 banks, and a number of affiliations probably embracing a smaller number of banks. Finally, in California an extensive affiliation of branch systems with chain systems has been consummated. No chain-banking developments were found in 2 of the 21 States which have prohibited the establishment of branches, and such developments were restricted to from one to four well recognized instances in 13 of these States, the maximum number of banks included in any chain in these 12 States being 20, the number reported for one chain in the State of Washington. Instances listed for other States of this area included, in addition to some smaller groups, for Arkansas 1 chain of 33 banks and 4 of 5 to 12 banks each; for Illinois 8 chains of 4 to 11 banks each; for Iowa 7 chains of 5 to 17 banks each, 1 including Iowa banks in affiliation with banks outside the State; for Nebraska 7, of 5 to 10 banks; and for Utah 4, of 6 to 17 banks. For Minnesota, the State in which chain banking seems to have developed most extensively, 1 chain of 81 banks, 1 of 35, 1 of 21, and over 30 smaller chains of 5 to 14 banks each are listed. In North and South Dakota, Kansas, and Oklahoma—4 of the 6 States which have made no provision by law either permitting or prohibiting branch banking—some 28 instances of chain affiliations of 5 to 17 banks each are noted, as well as a number of smaller groups, no association of this character being listed for either New Hampshire or Vermont. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
32 ANNTJAX REPORT OF THE FEDERAL RESERVE BOARD BANK MERGERS Mergers affecting member banks of the Federal reserve system during 1928 included consolidations of national with national banks under the act of November 7, 1918, consolidations of State with national banks under this act as amended February 25, 1927, the consolidated bank continuing under the national charter, and absorptions of one bank by another following liquidation of the absorbed bank. With respect to the class of bank involved, these mergers may be grouped as shown in the table following, which gives comparable figures for earlier years. Fewer such mergers were reported for 1928 than for 1927, although the number reported for last year was greater than for any earlier year, with exception of 1927, and in individual instances large aggregations of banking resources in the more important financial centers were involved. Included in the total for 1928 are 108 cases of merger within the Federal reserve system of a member with a member bank; 37 cases of merger of a nonmember with a member bank; and 59 cases of merger of a member with a nonmember bank. MERGEKS AFFECTING MEMBER BANKS, 1924-1928 Number of mergers 1924 1925 1926 1927 1928 Total- 124 120 164 259 204 Merger of national bank: Total _ 96 82 128 164 139 With national bank 44 41 68 96 70* With State member bank 22 13 20 19 19 With nonmember bank 30 28 40 49 Merger of State member bank: Total- _ , 22 31 23 37 28 With national bank 8 6 7 17 8 With State member bank. ._- 9 11 12 14 11 With nonmember bank __ 5 14 4 6 9 Merger of nonmember bank: Total.. 6 7 13 58 37 With national bank 2 35 15 With State member bank 6 7 11 23 22 Summary Merger of member with member 83 71 107 146 108 Merger of member with nonmember 35 42 44 55 59 Merger of nonmember with member 6 7 13 58 37 Merger of national with State 52 41 60 68 69 Merger of State with national 8 6 9 52 23 While merger procedures necessarily result in reduction of the number of corporately independent banking institutions, they do not necessarily in each case result in reduction of the number of banking Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 33 offices serving the public, since absorption of one bank by another may in any individual instance mean conversion of the merged institution into a branch office. The number of such conversions is noted elsewhere in the account of branch banking developments. The reduction in number of banking institutions of all classes in the country as a whole amounted during the year ended June 30, 1928, nearly to 850 (from 26,994 to 26,145), this reduction being a net decrease covering primary organizations, voluntary liquidations, insolvencies, consolidations, and absorptions. Total resources of banks increased during the year by nearly $3,500,000,000, and average resources per banking institution by over $200,000. Decrease in number of banks and increase in banking resources has been continuous since 1921. In the period of seven years ended June 30, 1928, the number of banking institutions decreased in round numbers by 4,600, and banking resources increased by nearly $22,000,000,000, average resources per bank increasing from $1,600,000 to $2,700,000. This increase in average size of the banking unit is attributable in part to accumulation of banking resources in the country, and in part to decrease in the number of institutions in consequence of liquidation and of merger procedures. Mergers consummated during the year in California and in some other States involved banks operating branch offices and a corresponding development of branch systems, subject to the legal restrictions imposed by Federal and State laws upon branch banking, and where nonmember banks have been free under State law to develop statewide branch systems, the process of developing such systems has in individual instances involved the absorption through merger procedures of National and State member by nonmember banks. BANKS ON PAR LIST At the end of 1928 there were 25,391 incorporated banks other than mutual savings banks in the United States. Of this number, 21,480, or 84.6 per cent, were on the Federal reserve par list, which comprises all member banks and such nonmember banks as have agreed to pay, without deduction of exchange charges, such checks drawn upon them as are presented or forwarded for payment by the Federal reserve banks. During the year the number of nonmember banks on the par list declined by 604, owing in part to suspensions and consolidations. Of the 3,911 banks not on the par list at the end of 1928, 2,171 were located in the Southern and 1,388 in the West North Central States. As will be seen from the following table, all of the banks in the Boston, New York, and Philadelphia districts and all but nine in the Cleveland district were on the Federal reserve par list. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
34 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD NUMBER OP BANKS ON PAR LIST AND NOT ON PAR LIST AT END OP 1928 AND 1927 Member banks Nonmember banks Federal reserve district On par list Not on par list i 1928 1927 1928 1927 1928 1927 United States.__ _ __. 8,837 9,034 12,643 13,247 3,911 3,910 Boston _ _____ 408 413 251 248 New York 938 937 410 411 Philadelphia 778 111 493 501 Cleveland 816 835 1,007 1,027 9 10 Richmond 547 564 627 657 572 587 Atlanta 453 464 315 312 959 1,016 Chicago ._ _ 1,252 1,290 3,570 3,695 213 190 St. Louis 587 594 1,757 1,891 490 452 Minneapolis __ _ 719 735 672 761 1,123 1,137 Kansas City 932 968 2,234 2,369 282 256 Dallas __ 780 799 626 667 208 204 San Francisco 627 658 681 708 55 58 1 Incorporated banks other than mutual savings banks. TRUST ACTIVITIES OF NATIONAL BANKS The Federal Reserve Board in 1928 approved 185 original and 42 supplementary applications by national banks for permission to exercise fiduciary powers under the provisions of section 11 (k) of the Federal reserve act. Since the first fiduciary permit was issued by the board on February 25, 1915, continuous growth has been shown in the number of national banks receiving authority to engage in trust activities, and at the end of 1928 there were 2,391 national banks holding fiduciary permitsconstituting 31 per cent of the total number of national banks, with a combined capital aggregating 73 per cent of the total capitalization of the banks in the national banking system. Of the 2,391 national banks having authority to exercise trust powers on December 31, 1928, 1,624 were acting in one or more of the fiduciary capacities authorized, and from the most recent figures compiled for 1928 were administering 63,776 trusts, with individual trust assets of $3,297,310,119. These banks were also acting as trustees for outstanding note and bond issues aggregating $7,978,- 388,854, and reported gross earnings from trust department operations of $16,165,000. Compared with 1927, these figures for 1928 show an increase of 242, or 17 per cent, in the number of active trust departments; an increase of 18,193, or 39 per cent, in the number of trusts being administered; an increase of $1,217,451,882, or 58 per cent, in the volume of individual trust assets; an increase of $1,623,675,119, or 25 per cent, in the amount of bond and note issues outstanding for which these banks were acting as trustees, and an increase of $5,354,- 000, or 49 per cent, in gross earnings from trust department operations. A list of the national banks holding permits to exercise trust powers on December 31, 1928, will be found on pages 284-306. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD 35 AGREEMENTS WITH FOREIGN CENTRAL BANKS IN 1928 On October 13, 1928, the credit extended by the Federal reserve banks and other banks of issue to the Bank of Poland was renewed for a second year. Under the terms of this arrangement the Federal Reserve Bank of New York, in association with the other Federal reserve banks, had agreed, if desired, to purchase from the Bank of Poland up to a total of $5,250,000 of prime commercial bills. No bills have been offered to the Federal reserve banks by the Bank of Poland under this arrangement. A similar agreement, with a maximum of $15,000,000 made with the Bank of Italy at the time of the stabilization of the lire, expired in December, 1928. In November an arrangement was concluded between the National Bank of Rumania and the banks of issue of 14 countries by which the latter agreed to purchase, if desired, from the National Bank of Rumania prime commercial bills up to an amount of $25,000,000 or its equivalent. The share of the Federal reserve banks in this arrangement was $4,500,000. The arrangement became effective on February 7, 1929. CHANGES IN THE BOARD'S REGULATIONS Effective January 3, 1928, the board promulgated a new edition of all its regulations applicable to member banks. The changes made were discussed in the annual report of the board for 1927. The board has subsequently had occasion to make several amendments to its regulations, and these may be briefly mentioned. Regulation A—Discounts for Federal intermediate credit hanks.— The board's regulation regarding the discount of agricultural paper by a Federal reserve bank for a Federal intermediate credit bank contained limitations providing that no Federal reserve bank shall discount paper for any Federal intermediate credit bank when its own reserves amount to less than 50 per cent of its own aggregate liabilities for deposits and Federal reserve notes in actual circulation, and further that the aggregate amount of paper discounted by all Federal reserve banks for any one Federal intermediate credit bank shall at no time exceed an amount equal to the paid-up and unimpaired capital and surplus of such Federal intermediate credit bank. On August 30, 1928, the board amended these limiting provisions so as to authorize exceptions to them where the permission of the board is obtained. Regulation A—Warehouse receipts securing bankers1 acceptances.— As Regulation A existed prior to October 9, 1928, a Federal reserve bank was authorized to discount a banker's acceptance arising out of the storage of readily marketable staples, provided the acceptance Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
36 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD was secured at the time of acceptance by a warehouse, terminal, or other similar receipt conveying security title to such staples and issued by a party independent of the customer, subject to certain prescribed conditions. The board on the date mentioned amended this provision of its regulation so that such warehouse, terminal, or other similar receipts securing bankers' acceptances might be issued by a party independent of the customer or issued by a grain elevator or warehouse company duly bonded and licensed and regularly inspected by State or Federal authorities with whom all receipts for such staples and all transfers thereof are registered and without whose consent no staples may be withdrawn. Regulation K.—On August 3, 1928, that section of the board's Regulation K which deals with the titles of corporations organized under section 25 (a) of the Federal reserve act for the purpose of engaging in international or foreign banking was amended so as to require that every such title include the word "Foreign" or the word "International" and so as to prohibit the use of the word "bank" as a part of any such title. Regulation L.—As a result of the act of March 9, 1928, amending section 8 of the Clayton Antitrust Act with regard to interlocking bank directorates, it was necessary for the board to make certain changes in its regulation on this subject in order to conform to the provisions of the new law. Under the law previously existing the board was authorized to grant its permission for an interlocking bank directorate when the banks involved were not in substantial competition. The new law provides that such a permit may be granted if in the judgment of the Federal Reserve Board it is not incompatible with the public interest. In changing its regulation to conform to the new law the board stated that in determining whether the issuance of such a permit would be compatible with the public interest it will consider whether the banks involved are natural competitors, whether their having the same directors, officers, or employees would tend to lessen competition or restrict credit, and any other facts having a bearing upon the interest of the public in such banks as affected by their having the same directors, officers, or employees. AMENDMENTS TO THE FEDERAL RESERVE ACT There were two amendments to the Federal reserve act enacted during the year 1928. By act of Congress approved May 7, 1928, a new paragraph was added to section 9 of the Federal reserve act providing that State banks and trust companies which are members of the Federal reserve system shall be depositaries of public money, when designated for that purpose by the Secretary of the Treasury, and may be employed as Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 37 financial agents of the Government. Satisfactory security is to be required of such banks and trust companies for the proper performance of their duties in these respects. By act of Congress approved May 29, 1928, the authority of Federal reserve banks to discount or purchase bills of exchange payable at sight or on demand, as contained in the third paragraph of section 13 of the Federal reserve act, was materially broadened. Under the statute as it existed theretofore a Federal reserve bank was authorized, subject to certain prescribed conditions, to discount or purchase sight or demand bills drawn to finance the domestic shipment of nonperishable, readily marketable staple agricultural products when secured by bills of lading or other shipping documents conveying or securing title. Under the law as amended a Federal reserve bank is authorized to purchase or discount sight or demand bills which grow out of the exportation as well as the domestic shipment of nonperishable, readily marketable staples, whether such staples are or are not of an agricultural character. THE CLAYTON ANTITRUST ACT Section 8 of the Clayton Antitrust Act was amended by act of Congress approved March 9, 1928, so as to broaden the power of the Federal Reserve Board to grant permits for interlocking directorates between banks in the classes affected by that section. Previous to this amendment the board was authorized to grant such permits only (1) if the banks were not in substantial competition, and (2) if a member bank of the Federal reserve system was involved. Under the amendment the board is authorized to grant such permits if in the judgment of the board the issuance of such a permit is not incompatible with the public interest, and such permits may be granted even though no member bank of the Federal reserve system is involved. As heretofore, the Federal Reserve Board is authorized to grant permits to serve not more than three banks in the prohibited classes. The Federal Reserve Board received and considered 457 applications for permits authorizing interlocking directorates during the year 1928. The Comptroller of the Currency reported to the board 32 alleged violations of section 8 of the Clayton Act. These were investigated by the board and where the law was being violated the bank directors involved were required to comply therewith. DISCRETION OF BOARD IN APPROVING THE ORGANIZATION OF FOREIGN BANKING CORPORATIONS The authority of the Federal Reserve Board to exercise its discretion in the matter of approving the organization of corporations pursuant to the provisions of section 25 (a) of the Federal reserve act to Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
38 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD engage in international or foreign banking or international or foreign financial operations was upheld by a decision of the Supreme Court of the District of Columbia on June 28, 1928. The decision was rendered in the case of United States ex rel. Apfel et al. v. Mellon et al., which arose in the following manner: Certain individuals residing in New York City filed with the Federal Reserve Board the articles of association and organization certificate of a proposed foreign banking corporation to be organized under section 25 (a) of the Federal reserve act and requested the board to approve such articles of association and organization certificate and to issue to the organizers a preliminary permit to commence business. The board was advised by its counsel that the approval of such papers and the issuance of a permit to commence business are matters within the discretion of the board and that the board should carefully investigate the proposed organizers and the proposed organization before undertaking to exercise its discretion in the premises. The board thereupon caused investigations to be made through official sources from which it obtained information which led the board to the conclusion that the experience and business qualifications of the organizers of the proposed corporation were not such as to hold promise of the successful conduct of a corporation engaged in the highly technical activities of those organized under section 25 (a) of the Federal reserve act and that it would not be in the public interest to approve the articles of association and organization certificate and to issue a preliminary permit for the proposed corporation to commence business. Thereupon the organizers of the proposed corporation filed a petition in the Supreme Court of the District of Columbia praying for a writ of mandamus to compel the board to approve the articles of association and organization certificate and to issue to the proposed corporation a preliminary permit to commence business. The board filed an answer to the petition and the petitioners then demurred to the answer of the board. The court overruled the demurrer, thus deciding the issue in favor of the board. The case has been appealed to the Court of Appeals of the District of Columbia and is now pending there. The case turns upon the question whether the board has a discretion in the matter of approving the organization papers of such a corporation or whether its duty is merely a ministerial one. In other words, the question is whether the board must grant a charter for a corporation of this kind to any and every group of persons applying therefor without regard to the financial standing, integrity, experience or business qualifications of such persons or whether the board in the exercise of its discretion may decline to grant a charter when in its opinion it would be incompatible with the public interest to do so. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 39 DISCRETION OF FEDERAL RESERVE SYSTEM REGARDING MATTERS RELATING TO CREDIT POLICIES In August of 1928 a suit was brought against the Federal Reserve Bank of New York testing its authority and the authority of the Federal reserve system generally to exercise discretion in raising or lowering the discount rate and in performing other functions relating to the credit policy of the Federal reserve system. The suit was brought in the United States District Court for the Southern District of New York by one Frank G. Raichle in his capacity as a private citizen. He filed a bill of complaint alleging that the Federal Reserve Bank of New York and the Federal reserve system generally had spread propaganda concerning an alleged money shortage, had set about to restrict the supply of credit available for investment purposes by selling large amounts of securities for the purpose of taking money and credit out of the market, had raised the rediscount rate for the purpose of increasing rates of interest and of reducing the volume of security loans, and had sought to control the action of member banks in the Federal reserve system by coercing them to call collateral loans made to their customers. It was further alleged that all of these actions injured the complainant by causing the market price of stocks and bonds owned by him to decline and also that all of such courses of action were beyond the corporate and legal powers of the Federal reserve bank and resulted in depriving complainant of his property without due process of law. The court was asked to grant an injunction restraining the defendant from spreading propaganda concerning an alleged money shortage and alleged credit stricture in the United States, from doing any act or thing calculated to curtail the credit resources of the United States, from engaging in unwarranted and excessive open-market operations and removing a large amount of cash and its incidental credit from the use of the investing public, from controlling or interfering with the member banks in the free and unrestricted use of their own independent resources in all legitimate banking activities including the making of collateral loans, and from further arbitrarily and unreasonably raising the rediscount rate. The court was also asked to grant a mandatory injunction directing the Federal reserve bank to fix a reasonable rediscount rate and a prohibitory injunction restraining the defendant from taking any action for the purpose of forcing liquidation of brokers' loans. The Federal Reserve Bank of New York in response to the bill of complaint filed a motion to have the bill dismissed on the ground that it stated no cause of action against the Federal reserve bank. This motion was argued by counsel for both parties and the court subsequently dismissed the bill of complaint, thus deciding the case in favor of the Federal reserve bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
40 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD The most important points involved in the case were whether a Federal reserve bank or the Federal reserve system generally is authorized to exercise its discretion in fixing rediscount rates and in engaging in open-market operations and whether a private citizen may bring a suit of this kind to enjoin a Federal reserve bank from engaging in alleged ultra vires transactions. The court by its decision in effect decided these questions in favor of the Federal reserve bank and the Federal reserve system. CHECK CLEARING AND COLLECTION The Supreme Court of Minnesota, on June 8, 1928, rendered a decision in the case of First State Bank of Hugo v. Federal Reserve Bank of Minneapolis, holding that the Federal reserve bank was not liable to the plaintiff, a nonmember State institution, for damages alleged to have been sustained by reason of the action of the Federal reserve bank in attempting to collect at par checks drawn on the State bank. The First State Bank of Hugo, Minn., instituted suit in 1925 against the Federal Reserve Bank of Minneapolis in the State court, alleging in substance that the Federal reserve bank, in order to coerce the First State Bank to remit at par during the year 1920, presented checks over the counter by means of an agent until the First State Bank finally surrendered and agreed to remit at par, which it continued to do until October 1, 1924. The case came to trial in the lower court and a verdict was rendered by the jury against the Federal reserve bank. A motion was thereupon made to the court by the Federal reserve bank for a judgment in its favor notwithstanding the verdict of the jury or, in the alternative, for a new trial. Upon this motion being overruled by the lower court, the case was taken to the Supreme Court of Minnesota. On June 8, 1928, a decision was rendered by the Supreme Court of Minnesota holding that there was no evidence to justify the jury in finding that there was coercion by the Federal reserve bank and that, therefore, the Federal reserve bank was entitled to a directed verdict and to judgment notwithstanding the verdict of the jury. The Supreme Court accordingly reversed the decision of the lower court with a direction that judgment should be entered for the Federal reserve bank. LEGISLATION RECOMMENDED In its annual report for the year 1927 the board pointed out the desirability of the enactment of certain amendments to the Federal reserve act concerning matters of detail which have arisen in the administration of the Federal reserve system, and the board wishes again at this time to recommend the passage by Congress of these proposed amendments to the law. Briefly stated, these amendments Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 41 are as follows: (1) An amendment to section 9 of the Federal reserve act to permit State member banks of the Federal reserve system to have foreign branches; (2) an amendment to section 4 of the Federal reserve act to permit an officer, director, or employee of a mutual savings bank to serve as a class B director or class C director of a Federal reserve bank; (3) an amendment permitting the cancellation of Federal reserve bank stock held by member banks which have gone out of business without a receiver or liquidating agent having been appointed therefor; (4) an amendment making it discretionary with the Federal Reserve Board to assess the costs of examining member banks against the banks examined; (5) an amendment exempting Federal reserve banks from attachment or garnishment proceedings before final judgment in any case or proceeding; (6) an amendment to the Judicial Code restoring to the United States district courts jurisdiction of suits by and against Federal reserve banks; and (7) an amendment to section 13 of the Federal reserve act increasing from 15 days to 90 days the maximum maturity of advances made by Federal reserve banks to member banks on their promissory notes secured by paper eligible for rediscount by Federal reserve banks. The board also wishes to recommend an amendment to section 9 of the Federal reserve act, which would authorize the Federal Reserve Board in its discretion to waive the six months' notice now required by law before a State member bank may withdraw from the Federal reserve system and to permit any such bank to withdraw from membership in the system prior to the expiration of such six months' notice. It frequently happens that a State member bank desiring to terminate its membership in the Federal reserve system asks the Federal Reserve Board to waive the six months' notice of withdrawal now required and states to the board forceful reasons why immediate withdrawal is, from the standpoint of the bank, important. Although in many such cases the board sees no valid practical reason for not granting the request of the State bank, it is unable to do so under the terms of the now existing statute. Sometimes also a State member bank transfers its assets or its banking business to another institution, but retains its corporate identity and engages either in no business at all or in a business other than banking. In such cases where a State member bank has in fact gone out of business or is engaged in some business other than banking, it seems manifestly desirable that its membership in the Federal reserve system should be terminated as soon as possible. For these reasons the board believes it should be given authority in its discretion to waive the .six months' notice now required of a State member bank wishing to withdraw from the Federal reserve system. 41223—29 4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
42 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD In addition to the amendments to the Federal reserve act proposed above, the board wishes to recommend the enactment of S. 4039, a bill pending in the present Congress, the purpose of which is to exempt joint-stock land banks organized under the provisions of the Federal farm loan act from the provisions of section 8 of the Clayton Antitrust Act. The Attorney General has ruled that joint-stock land banks are technically banks within the prohibitions of the Clayton Act. The principal function of joint-stock land banks is to make long-term loans on real estate; they are not authorized to accept deposits except from the Secretary of the Treasury and are prohibited from transacting any banking or other business not expressly authorized by the Federal farm loan act. They are not commercial banks in any sense and do not compete with commercial banks or trust companies. While they are technically banks within the meaning of the Clayton Act, therefore, they clearly are not the kind of banks to which the Clayton Act was intended to apply, since interlocking directorates between them and ordinary commercial banks could not possibly lead to any restriction of banking credit or lessening of competition. In this respect they are analogous to mutual savings banks, which are now exempted altogether from the provisions of the Clayton Act, and the board believes that the same exemption should apply to joint-stock land banks. There have come to the board's attention certain cases in which outstanding bankers have been requested to serve as directors of joint-stock land banks, but have been unable to do so because of the fact that they are already serving as many banks as they are permitted to serve under section 8 of the Clayton Act. To exempt joint-stock land banks from the prohibitions of the Clayton Act would make it easier to strengthen the management of such banks by obtaining the services on their boards of directors of such outstanding bankers who are now ineligible. The bill S. 4039 passed the Senate in the first session of the Seventieth Congress and the board hopes for the reasons given that it will be enacted into law. MEETINGS OF FEDERAL ADVISORY COUNCIL Four meetings of the Federal Advisory Council were held in Washington during 1928 on the following dates: February 17, May 18, September 28, and November 22. CONFERENCES HELD BY THE FEDERAL RESERVE BOARD The Federal Reserve Board, as usual, conferred with the Federal Advisory Council on the occasion of its meetings during the year. The governors of the Federal reserve banks met in Washington on April 30-May 2, and the governors of the Federal reserve banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 43 and Federal reserve agents conferred, separately and jointly, on November 12-15. At both conferences special sessions were held at which the board was in attendance. ORGANIZATION, STAFF, AND EXPENDITURES Hon. Edmund Platt, whose term of office expired on August 9, 1928, was reappointed for a 10-year term. On November 21, 1928, Mr. J. W. Mclntosh resigned as Comptroller of the Currency, and Mr. J. W. Pole, appointed to that office, became an ex officio member of the Federal Reserve Board. No other changes took place in the organization or official staff of the Federal Reserve Board during the year. The total cost of conducting the work of the board during the year 1928 was $763,563.41. Two assessments were levied against the Federal reserve banks aggregating $697,676.92, or approximately onefifth of 1 per cent of their average paid-in capital and surplus for the year. By direction of the Federal Reserve Board. R. A. YOUNG, Governor. The SPEAKER OF THE HOUSE OF REPRESENTATIVES. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE BANK CREDIT 45 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT No. 1.—RESERVE BANK CREDIT OUTSTANDING, BY MONTHS, 1914-1928 [Monthly averages of daily figures. In thousands of dollars] Bills and securities held by Federal reserve banks Month Total Total f c o o r B d u b m i i n e s l - l r t e s e m d - bo B u il g ls ht s U e t c . i S e u . s ri- s O e t c i t e h u s e ri r - F o l n o o r a g e n o ig s ld n f b o f D a r r o e n u i m k g e s n R b f e l a s o e n a r k t ve banks 1914 November.. i 5, 944 5,944 5,871 73 December.. i 9, 627 9,627 9,525 3 39 1915 January 119, 942 19, 942 11, 743 1, 0201 7,179 February... i 32, 336 32,336 16, 634 <301 4,310 11, 091 March 1 48, 750 48, 750 20, 341 7,550 6,413 14,446 April i 58, 394 58,394 21, 632 13, 222 6,801 16, 739 May i 62, 772 62, 772 23,132 10, 994 6, 845 21, 801 June i 54, 395 54, 395 24, 695 9,840 7, 246 12, 614 July. i 58, 873 58, 873 27,136 9,666 7,855 14, 216 August i 68, 777 68, 777 27, 860 12,328 8,628 19, 961 September,. i 75, 879 75, 879 29, 674 12, 664 9,081 24,460 October i 78, 567 78, 567 28, 355 13,958 10,106 26,148 November- i 80,178 80,178 29, 237 14, 030 11, f 24, 972 () December.. i 81,141 81,141 31, 511 19,883 14, 683 15, 064 (2) 1916* January 1 91, 795 91, 795 28,640 26,125 18, 534 18,496 February. _. 1 101,434 101,434 21,981 28, 307 26,489! 24,657 March i 125,805 125,805 21, 526 35, 247 36,632j 32,400 April 1 148, 658 148, 658 21, 770 43, 775 47,481 35,632 May i 167, 252 167, 252 20,066 50,489 54,936! 41,761 June --. i 163, 920 163,920 20,612 62,484 56, 750 24,074 July i 187, 016 187,016 25,092 78,429 56,991 26, 504 August i 191,941 191,941 27,905 81,052 55,214 27,770 September- 1 186, 742 186, 742 27, — 81, 592 55, 229 22, 834 October i 185, 811 185, 811 22,060 52, 8041 30, 249 November- 1 186,423 186, 423 19, 715 94,925 50,461 21, 322 December. . 1 220, 454 220,454 32,844 121,24" 53,761 12,602 1917* January 235, 470 196, 703 20,861 110, 266 55,140 10,436 5 38,767 February... 239, 576 196,482 18, 237 114,886 47,779 15,580 43,094 March 221, 786 183, 526 18, 528 98,418 50, 261 16, 319 38, 260 April 282, 310 228,900 25,169 77, 271 111, 292 15,168 53,410 May. 349,761 274,120 42,980 97, 346119,116f 14, 678 75,641 June 516, 622 433,445 155,199 162,136 111,516! 4,594 83,177 July 521,395 422,998 151,191 196,966 72,625 2,216 98, 397 August 454, 577 367,839 134, 253 158, 774 73, 564 1,248 86, 738 September.. 521, 310 438, 554 181,476 167, 830 89,034 214 82, 756 October 736, 715 612,103 320,178 179,173 112,489 263 124,612 November.. 1, 004,804 879,793 I 562, 522 191, 574124,373 1,324 125,011 December. _ 1,173,180 1, 028,824 682, 625 243, 03r 101, 850 1,317 144, 356 1918* January 1,170,175 1, 027, 810 612, 235 265, 613148, 678 1,284 142, 365 February. _. 1,142,894 1,002, 906 528, 779 288,468 184,834 825 139,988 March 1, 262, 626 1,122, 797 536, 591 315,087 270, 590 529 139, 829 April 1,381, 279 1,238,085 751,398 312, 749173,402 536 143.194 May 1,412, 099 1, 260, 904 896, 711 278,137 85, 520 536 151.195 June— 1, 553,826 1, 275, 567 938, 909 238, 939 97,465 254 i 278, 259 July 1, 630, 522 1,435, 710 1,162, 031 208, 321 65, 297 194, 812 August 1, 750,120 1,602,534 1,332,661 216,782 53,027 147, 586 N D S O e o e c p t c v o t e e e b m m m er b b b e e e r r r . . - . . 2 2 2 2 , , , , 4 4 3 0 9 5 1 7 1 5 5 3 , , , , 0 9 0 4 9 3 6 6 8 5 3 8 2 2 2 1 , , , , 1 9 3 2 6 1 2 6 0 9 5 3 , , , , 7 6 3 5 9 5 0 6 3 3 7 9 1 1 1 1 , , , , 7 6 6 6 7 8 5 0 3 6 3 , 0 , , , 2 2 4 6 0 6 0 7 9 8 6 5 3 3 2 3 7 4 4 5 3 9 5 4 , , , , 6 1 5 2 9 5 6 0 8 8 5 7 2 1 1 1 2 2 6 4 9 3 6 , , , , 3 5 7 3 7 9 0 6 2 3 i 9 0 , 4 2 7 9 ! ; . . 4 ( 1 ) , ,5 4 3 9 2 3 8 0 9 1 1 1 1 6 5 5 9 1 0 3 3 , , , , 9 8 3 7 3 3 1 0 1 1 9 5 •Revised figures. 1 Exclusive of reserve bank float. 2 Figures not available. 3 First purchase of United States securities, Dec. 26, 1914. * First purchase of bankers' acceptances in open market, Feb. 19, 1915. 6 Includes Government overdrafts during the period 1917-1920. e Initial deposit with a foreign bank, Sept. 6, 1918; average for September less than $1,000. 47 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
48 &NNU&L REPORT OF THE FEDERAL RESERVE BOARD No. 1,—RESERVE BANK CREDIT OUTSTANDING, BY MONTHS, 1914-1928—Con. [Monthly averages of daily figures. In thousands of dollars] Bills and securities held by Federal reserve banks Month Total Total f c o o r B d u b m i i n e s l - r l t e s e m d - b B ou il g ls ht s U e t c i . e u S s ri . - s O e t c t i h e u e s r r i - - F o l o n o r a g e n o ig s ld n f b o f D a r r o e n u m i k e g s n R b e fl a s o e n a r k t ve banks 1919* January 2,359,321 2, 209,020 1,731,412 278, 042 199, 557 6,298 144,003 February... 2, 341, 350 2, 225, 220 1, 765, 051 273,875 186,290 4,520 111,610 March 2,480, 341 2,318,167 1,862, 833 260, 795 194, 535 3,843 158,331 April 2, 450, 798 2, 340, 658 1, 919,808 207, 467 213, 382 2,141 107, 999 May 2,498, 368 2, 391, 263 1, 976,150 187,056 228,057 2,011 105,094 June 2,467,272 2,322,011 1,839,610 246, 555 235, 846 2,499 142,762 July 2, 599,467 2,471, 285 1,864, 386 357,973 248,926 2,499 125, 683 August 2, 559,194 2,440, 330 1, 798, 207 371, 892 270, 231 2,500 116,364 September- 2, 636,140 2,468, 296 1, 776, 228 350, 648 341,420 1,993 165,851 October 2,847,070 2, 707,123 2, 067,889 343, 369 295, 865 1,776 138,171 November. 3, 037, 588 2,902,459 2,140, 368 454, 820 307, 271 1,777 133,352 December.. 2,990, 525 2,114, 527 548, 767 327, 231 1,403 211,460 1920* January 3.205,255 3, 031, 729 2,136, 317 569, 567 325,845 815 172, 711 February 3, 313,991 3,147, 513 2, 297,199 540,971 309,343 809 165, 669 March. 3,412,917 3, 200, 219 2, 376,800 479, 709 343, 710 787 211, 911 April 3, 364,109 3,175,888 2,430,952 413, 315 331, 621 787 187,434 May 3, 384, 595 3, 248,474 2, 535,955 410, 548 301,971 787 135,334 June 3, 381, 588 3, 202,163 2,455, 672 399, 710 346, 781 787 178,638 July 3, 343,814 3,194,416 2, 513,420 362,185 318,811 788 148,610 August 3,352, 705 3, 224, 046 2, 596, 2911324, 250 303, 505 789 127,870 September. _ 3,495,222 3, 316,086 2, 667, 312 310, 268 338, 506 789 178, 347 October 3, 521,806 2,779, 537 302, 592 304, 805 789 134,083 November- 3,466, 582 3,357,709 2, 761,937 275, 781 319,991 792 108,081 December--. 3.442,256 3, 299,186 2, 718,122 241, 577 339,487 794 142,276 1921* January 3,109,998 3,020, 804 2, 523,195 199, 778 297,831 83, 506 February- _ 2,917,708 2,856,434 2,400, 425 168, 741 287, 268 60, 585 March 2,797,785 2, 729, 718 2, 296, 742i137, 274 295, 702 689 67,378 April „ 2,563,546 2, 515,487 2,129, 247! 109, 559 276, 681 691 47,368 May 2,385,740 2, 345, 973 1,958,591' 84, 270 303,112 691 39,076 June 2,210,574 2,166, 918 1, 810, 540 54,448 301,930 692 42,964 July... 2,049,168 2, 006,448 1, 719, 058! 26, 303 261,087 692 42,028 August. 1,863,057 1,834, 393 1, 547,8171 38, 064 248, 512 693 27, 971 September 1,767,205 1, 736, 358 1,442, 390 39,805 254,163 693 30,154 October „ 1,669,492 1,634,192 1, 370, 531 56, 229 207,427 693 34,607 November 1,543,614 1, 515,123 1, 227, 699 79,002 208,161 261 693 27, 798 December 1,547,752 1, 511, 915 1,180,169 105,198 226, 290 258 694 35,143 1922* January 1,326,095 1, 298,100 961, 966 i 98,195 237, 637 302 694 27,301 February 1,233,072 1, 213, 444 768,836 87, 507 356,906 195 697 18,931 March _.| 1,206,587 1,189, 212 92, 318 458, 584 102 698 16,677 April. 1, 210,045 1.185, 783 572, 466 93,003 520, 224 90 698 23, 564 May 1, 207,841 1.186, 051 479,100 103, 452 603,499 699 21,091 June 1,191, 524 1,163, 717 437,436! 135, 591 590, 690 701 27,106 July.. 1,169,986 1,125, 037 425, 399 152, 550 547, 083 701 44, 248 August 1,102,169 1,052, 272 395, 588! 159,490 497,185 701 49,196 September- 1,179,870 1,114, 796 417,251! 211, 538 485, 989 701 64,373 October 1, 245, 574 1,185, 840 486,155! 251, 534 448,129 701 59,033 November- 1, 264,889 1, 208, 589 623, 372 259,871 325, 319 701 55, 599 December.. 1, 377,109 1, 299, 693 660,427 259, 296 379, 939 701 76,715 1923* January 1, 248,888 1,185, 547,058 217,939 420,97' 20 701 62,193 February... 1, 205,043 1,153, 721 608,165 189,819 355, 737 701 50,621 March 1,228,242 1,177, 417 627, 799 233, 753 315,848 17.. 701 50,124 April 1, 214,466 1,158, 872 657,730 272, 439 228, 664 39.. 701 54,893 May 1, 221, 73" 1,169, 918 705, 312i 271, 333 193, 224 49. 701 51,118 June 1.178, 371 1.119, OK 741, 246 224,313 153, 395 56.. 701 58, 659 July 1.179, 386 i1,116, 638 834, 084 186,002 96, 532 19., 701 62,047 August 1,127, 239 '1,074, 252 808,870 175, 351 90,01i 701 52,286 September- 1,183,823 1.120, 964 845, 227 173,909 101, 690 138|I 701 62,158 October 1, 204,123 1,149, 74" 873,142 184,838 91,450 317L 701 53,675 November- 1, 204, 312 1,147,19 798, 529 264,95: 83, 45f 255. 70: 56,420 December.. 1, 260,19£ 1, 200, 916 771,034 323,90: 105,893 701 58,581 * Revised figures. includes Government overdrafts during the period 1917-1920. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 49 No. 1.—RESEKVE BANK CREDIT OUTSTANDING, BY MONTHS, 1914-1928—Con. [Monthly averages of daily figures. In thousands of dollars] Bills and securities held by Federal reserve banks Bills Due Reserve Month Total Total f c o o r d b u m i e n s- r t e e m d - b B ou il g ls ht s U e t c . i u e r s S i . - s O e t c t i h e u s e ri r - F o l o n o r g a e n o ig s ld n f b o f a r r o e n i m k g s n b fl a o n a k t banks 1924* January 1,040,781 991,382 573,865 299,914 117, 576 27 701 February 955,227 921,228 513,920 272,678 134, 611 19 701 March __. 989,838 948,007 475,712 228,101 244,121 73 701 41,130 April 981, 361 932,736 488,558 170,525 273,601 52 701 47,924 May 879,242 836,507 432, 613 79,995 323, 557 342 701 42,034 June 886, 324 838, 062 370,159 50, 376416,251 1,276 701 47,561 July_.__ , 878,500 827,001 315,343 43, 878466,530 1,250 701 50, 798 August 880, 895 838,956 268,475 29,532 539,409 1,540 701 41,238 September..., 982,574 931,595 261, 655 91, 617575, 360 2,963 596 50,383 October 1, 057,166 1, 006,986 240, 200 179,735 585,118 1,933 476 49,704 November.... 1,134,950 1,087,235 228,236 268, 346 587, 666 2,987 477 47,238 December 1, 288,061 1,220,693 301, 351 357, 504 554, 048 2,056 6 5,734 573 66,795 1925* January 1,125,416 1.070,746 267, 003 329,258 463, 722 2,, 8,224 641 54, 029 February 1,094,047 1,050,935 340,253 313,419 383,790 2,973 10,500 642 42,470 March 1,121, 951 1, 076, 506 389, 611 298,177 375, 566 2,652 10,500 720 44,725 April 1,109, 656 1, 057,215 402, 766 287, 322 354,984 1,643 10,500 639 51,802 May 1, 099,973 1, 050, 034 397, 352 279, 054 361,261 1,867 10,500 640 49,299 June. 1,118, 344 1,058, 393 437,177 263,497 344,969 2,250 10,500 730 59,221 July 1,118,239 1,061,438 480,105 231,122 337, 667 2,044 10,500 56,165 August 1,142, 706 1,092,215 545,196 205,401 329,091 2,058 10,469 49,846 September- 1,226, 636 1,165, 601 594, 080 225, 728 335,425 2,414 7,954 735 60, 300 October 1,320,582 1.254,747 618,770 298,211 327,685 2,703 7,378 639 65,196 November- 1,351,693 1,289,509 597,158 351,751 331,962 3,378 5,260 652 61,532 December 1,506,515 1,427,225 687,766 368, 659 359,242 3,191 8,367 738 78,552 1926* January 1,278, 808 1,221,575 519,917 323,874 367,789 3,143 6,852 642 56,591 February 1,218,403 1,175,626 525, 678 304,816 334, 816 3,185 7,131 709 42,068 March 1,216, 042 1,171,970 556,541 267, 833 335,742 3,653 8,201 696 43,376 April 1,203, 653 1,155, 739 537, 003 234,409 370, 754 4,886 8,687 645 47,269 May 1,199,838 1,153,771 511, 490 232,219 398,201 4,103 7,758 707 45, 360 June... 1,185,468 1,134, 860 472,871 243,233 407,896 3,453 7,407 676 49,932 July 1,221, 421 1,165,286 549,107 229,923 379,618 3,117 3,521 681 55,454 August 1,202, 639 1,157, 013 555, 241 245,117 353,192 3,373 90 702 44,924 September- 1,277,787 1,223,551 639,508 264, 813 315,530 3,700 659 53,577 October 1,321,568 1,267, 776 663,296 295,249 306.189 3,042 677 53,115 November 1, 318,027 1,267, 825 614,501 348,365 302,434 2,525 650 49, 552 December 1,445, 340 1, 377,175 668, 453 384, 603 321,540 2,579 650 67,515 1927 January , 1,186,381 1,138,106 480, 622 343,448 310, 486 3, 550 657 47,618 February 1,043,153 1, 005, 923 392, 996 304, 071 306,606 2,250 658 36,572 March 1,055,163 1, 024, 251 424, 543 252, 722344, 922 2,064 658 30,254 April 1,087,141 1,038, 857 447, 286 248, 429 341, 081 2,061 659 47,62-5 May 1,041,297 999,504 472,984 233, 224291, 495 1,801 660 41,133 June 1,081,275 1, 033,123 428, 563 205, 273 397, 754 1,533 8,627 39,525 July 1,114, 788 1,026,152 453, 997 189, 774381, 081 1,300 45, 370 43,266 August 1,093,486 1,021, 830 409,439 173,122 438, 511 758 36,190 35,466 September... 1,187,227 1,139, 342 422,192 215, 926 500, 637 587 7,141 40,744 October , 1,254,435 1, 213,191 424,413 281,903 506,177 698 628 40,616 November.... 1,377,135 1, 331, 008 415, 216 335, 908 579, 238 646 564 45,563 December 1,567,814 1,513,119 528, 624 377, 712605, 841 942 566 54,129 1928 January 1, 387, 591 1,350, 322 465,275 372, 538 511,85! 657 566 36, 703 February 1, 263,814 1,236, 649 470, 680 359,883 405, 551 535 566 26,599 March 1, 295,246 1,271, 525 513,233 342, 790 414, 681 821 568 23,153 April 1,405,135 1,371,048 660,927 358,026 351,105 990 570 33, 517 May , 1,471,559 1,441, 788 835,502 348,600 256,686 1,000 571 29,200 June 1, 531,133 1,494, 972 1,018, 735 243, 540 231,907 790 573 35,588 July 1, 530, 993 1,488, 065 1,089, 579 185,018 212,978 490 572 42,356 August 1, 485,196 1,449,136 1,060,811 177, 951 209,610 764 574 35,486 September.... 1, 581,421 1,533, 941 1,064,302 226,0331240,429 3,177 574 46,906 October 1, 621, 327 1,584,146 975,204 367,595 236,914 4,433 645 36, 536 November.... 1, 652,841 1,610,442 897,309 470,638^ 4,160 729 41,670 December 1,824, 070 1, 766,080 1,013,003 482,704 262, 776 7,597 727 57,26a * Revised figures. » Foreign loans on gold outstanding from Dec. 2, 1924, to Augs 2,1926, only. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
50 A.NNU A.L REPORT OF THE FEDERAL RESERVE BOAJRD No. 2.—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENTAGES OF FEDERAL RESERVE BANKS, BY MONTHS, 1914-1928 [Monthly averages of daily figures. In thousands of dollars] Deposits Cash reserves Federal fe Foreign reserve | Month Member Gov- bank notecir- Total bank ern- and Other Total Excess culation reserve ment Government 1914 November 1 231,646 241,159 159,162 2,301 3103.1 December 1 247,764 265,900 176,119 7,658 a 104.1 1915 January i 264, 533 269, 393 171,848 12, 396 3 97.3 February i 278, 583 295,312 190,127 19, 203 3 99.2 March 295.983 185, 223 30,081 3 94.8 April. i 287, 674 302,713 185, 369 41, 644 3 91.9 May 323,644 202,121 52,771 3 95.3 June i 294,810 358.984 227,862 69, 845 3 98.4 July i 296,937 368, 075 231, 395 81,880 3 97.2 August 1305,932 377, 652 234, 233 90,856 3 95.2 September 1327.462 12,500 411,339 253, 650 107,692 3 94.5 October 1 343,309 15,000 451,494 277,040 135, 739 3 94.2 November 1379,386 15,000 507, 234 311,124 158, 312 3 94.3 December 1 398, 582 15,000 547, 594 336,116 179,936 3 94.7 1916* January _. i 430,054 26,243 568,642 344,247 184,690 3 92.5 February » 437,143 29, 548 555,316 331,187 177,823 3 90.3 March i 445, 794 34,002 534, 345 312,506 164, 527 3 87.6 April 1 444,141 36,868 511, 865 290,386 165,073 3 84.0 May... i 471,870 41,255 514,267 285, 280 159, 581 3 81.4 June 1 512,190 59,450 553,407 312, 280 154,650 3 83.0 July i 545,849 83, 706 564,343 311,421 154,688 3 80.6 August 1 532,550 51,892 548, 223 299,944 154,717 3 79.8 September i 529,748 42,119 578, 518 319, 973 182,834 3 81.2 October » 538, 418 29,424 614, 053 342, 571 207, 588 3 82.3 November i 580, 655 24, 992 679, 830 383,413 232,970 3 83.6 December i 622, 698 33, 619 719, 588 395, 643 265, 002 3 81.1 1917* January 709, 306 679,704 26, 595 3,007 785,112 430, 321 266,334 «80.5 February 710,404 690, 950 15,400 4,054 802, 656 439, 802 285, 531 80.6 March 740,063 718, 300 17, 818 3,945 904,432 511, 236 335,435 84.1 April 803, 879 743, 348 55,451 5,080 972, 326 531, 315 399,133 80.8 May 870,072 744, 352 99,162 15,193 11,365 1,017,794 536, 240 442, 571 77.5 June 107,916 804,135 289, 669 1,000 13,112 1,133,707 549,017 492, 299 70.8 July 342,467 1,100,951 212, 586 2,290 26, 640 1, 399,985 717, 968 530,383 74.8 August. 266,832 1,141,408 93,829 2,419 29,176 1,423,491 756, 553 558, 867 78.0 September 250,071 1,130, 265 64,119 1,000 54, 687 1,438, 475 741,790 647,901 75.8 October 389,103 1, 243, 36689,929 1,483 54,325 1, 516,037 711, 659 795,481 69.4 November 605,305 1,408,901 160,352 2,511 33, 541 1, 637,386 688, 724 967,013 63.7 December 622, 864 1,438, 543153,147 4,759 26,415 1,695,039 659, 802 60.7 1918* January.. 627,304 1.466, 915124, 623 12,974 22, 792 1, 760, 269 693, 830 1,242, 207 61.3 February 610, 807 1.467, 507 80, 643 45, 850 16, 807 1, 819,394 742,427 1,282,961 62.9 March.. 635, 828 1,466,296 84, 564 70, 796 14,172 1,854,012 717,803 1,409,172 60.9 April 693, 329 1, 503,866 94, 550 75,407 19, 506 1, 890,769 696, 621 1, 503,708 59.1 May 707, 880 1,482,394 99, 635 95,189 30, 662 1, 944,089 717,751 1, 571,450 59.3 June 792,425 1, 512,350142,075 99, 613 38,387 1,982, 510 690, 659 1, 661, 255 57.4 July 734, 527 1, 447, 791162,257 99,115 25, 364 2,016, 536 679,752 1,824, 249 56.7 August.. 712,431 1,459, 204127, 635105, 777 19,815 2,049,051 654, 216 1,988, 711 55.4 September 779,086 1, 506, 742151, 590101,215 19,539 2,072,458 549, 274 2, 251, 259 51.4 October. 825, 699 1, 538, 898156,307 94, 597 35, 897 2, 086, 562 455,135 2,481,081 48.4 November 813, 791 1, 520,163162, 242 93, 945 37, 441 2,110, 245 454, 251 2, 552,917 48.3 December 803, 767 1, 585, 612100, 965 92, 276 24,914 2,134,125 450, 929 2, 629,695 48.1 * Revised figures. 1 Figures for total deposits not available; figures given are for net deposits, i. e., gross deposits including deferred availability accounts less items in process of collection and other uncollected items. 2 Figures not available since deferred credits, which are not a part of legal reserves, are included in "Amounts due to member banks" as reported on current balance sheets. 3 Ratio of total cash reserves to Federal reserve note and net deposit liabilities combined. * Initial Government deposits were $5,000,000 on Sept. 4, 1915, with Federal Reserve Bank of Dallas, and $5,000,000 each on Sept. 7 with the Federal reserve banks of Richmond and Atlanta. s Ratio of total cash reserves to total deposits and Federal reserve note liabilities combined is shown for January, 1917, and subsequent months. * The initial foreign government deposit was opened with the Federal Reserve Bank of New York on May 3, 1917. No foreign bank deposits were received prior to 1918. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 51 No. 2.—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENTAGES OF FEDERAL RESERVE BANKS, BY MONTHS, 1914-1928—Continued [Monthly averages of daily figures. In thousands of dollars] Deposits Cash reserves Month Total M re b e s a m e n r b k v e e r m G er o e n v n - - t F G b o o a r a v n e n e d i k r g n n - Other Total Excess n c F r u o e e l t s d a e e e t r c i r v o i a r e n l - s c p R e a e e g r e n r v - e t - e ment 1919 January.. *1,825,182 1, 635,440 71,354 93. 291 25,097 2,164,167 509,096 2, 540,642 49.6 February I 1,855,124 1,611,611 129, 576 93; 488 20,449 2,183,641 549, 374 % 462,435 50.6 March. 1,951,753 1, 651, 764176,7] 9 94, 784 28,486 2, 202, 368 517, 914 2, 503, 350 49.4 April.. 1,878,879 1,655, 697 97,133 96,634 29,415 2, 224, 948 548, 326 2, 547, 535 50.3 May.. 1,944, 547 1, 685,845123, 661 38, 348 2, 246,087 551, 851 2, 534,112 50.2 June.. 1,940, 647 1, 696, 286111, 5?5 95,069 37,767 2, 248, 265 568,651 2, 500,969 *50.6 July. 1,959, 758 1, 719, 373119,053 93, 383 27,949 2,176,779 481, 280 2, 523,960 48.5 August 1*1,911,819 1, 740,241*67,654 81,451 22,473 2,146,003 459,124 2, 544, 357 48.2 September 1,930,970 1,769,146 53,970 81,755 26,099 2,157,932 1 431,174 2, 627, 295 47.3 October. 1,980, 676 1, 793,321 88.300 73,921 25,134 2,207, 386 418, 792 2, 738, 394 46.8 November.... 2,013,944 1, 837,047 79,978 73,393 23, 526 2,185,149 355, 370 2, 812, 247 45.3 December . 1,990,221 1,819, 639 70.301 73,403 26,878 2,149,653 270,885 2,955,476 43.5 1920 January 2,027, 861 1, 46, 678 73, 297 24, 800 2,098,498 233, 608 2,887,846 42.7 February 2,002,503 1, 858,339 49,749 73,442 20,973 2, 053,422 173, 801 2,946,863 41.5 March. _ *2,032, 797 1,877,761 *56, 762 75, 522 22, 752 2,058,293 3,040,440 40.6 April 1,998, 732 1, 870, 337 22, 219 77,595 28, 581 2,084,077 155, 819 3,071, 754 41.1 May... 1,987,323 1,853,139 31,257 76,872 26,055 2,078,822 147,364 3,089,737 40.9 June 1,974, 537 1,852,756 34,066 59,468 28, 247 2,102,985 166,317 3,113,949 41.3 July 1,909,221 1,840,195 14,801 31,464 22, 761 2,118,899 193,286 3,143,465 41.9 August 1,885,062 1,807,447 32,032 27,994 17, 589 2,127,305 201,444 3,165,222 42.1 September 1,912,070 1, 817,076 57,341 19,923 17, 730 2,139,280 159,841 3,275, 535 41.2 October. 1,867, 589 1,814, 536 25,946 8,371 18,736 2,162,178 173,815 3,336,768 41.5 November 1,830,011 1, 782,158 21,062 7,713 19,078 2,182, 795 211,238 3, 327, 632 42.3 "December 1,821,746 1,758,479 38,661 5,928 18, 678 2, 221,573 246,954 3,342,520 43.0 1921 January.. 822,576 1,772,885 25,277 5,659 *18,755 2, 287,274 378,310 3,177, 656 45.7 February 803,782 1, 728,141 49, 643 5,596 *20,402 2,343, 537 491,925 *3,050, 721 *48.3 March 804,851 1, 694,073 79,731 9,171 *21,876 2,403,470 579,978 2,979,486 50.2 April.... 749, 568 1, 664, 641 50, 627 11,561 22,739 2,485,079 724,461 2,870,672 53.8 May 717,423 1, 656, 585 28,487 10, 260 22,091 2, 541, 647 825, 597 2, 787,379 56.4 June 723,271 i, 663, 56828, 579 9,521 21,603 2,605,779 929, 610 2,682, 560 59.1 July 696,481 1, 639,493 29,764 8,971 18,253 2,655,179 1,019,511 2, 604, 750 61.7 August _ 691,137 1, 621,292 43,879 9,452 16, 514 2, 740, 388 1,143, 550 2, 512,350 65.2 September 716,162 1, 629, 372 59, 339 10,024 17,427 2,836,396 1,238,175 2,493,910 67.4 October 728, 029 1, 651,791 50, 234 9,035 16,969 2,905,727 1, 318,468 2,456,121 69.4 November 732,504 1,662,684 42, 242 9,960 17,618 2,964,419 1, 397,066 2,402,442 71.7 December 755,226 1,673,406 54,364 11, 303 16,153 2,994, 982 1,414, 214 2,416,096 71.8 1922 January. - 800,990 1, 707, 286 65,116 9,589 18, 999 3,043,984 1, 504,815 2, 272,057 74.7 February 814,446 1, 688,637 91,940 8,571 25,298 3,070,045 1, 564, 377 2,176, 529 76.9 March. 794,895 1, 711, 366 44,212 7,872 31,445 3,095, 762 1, 589, 4962,195,133 77.6 April... 822,788 1,733,256 49, 553 6,437 33, 542 3,114,928 1, 600, 773 2,190, 447 77.6 May... 877, 269 1, 782, 515 57, 588 5,234 31, 932 3,126, 773 1, 608, 5082,153,053 77.6 June.-_ 892, 591 1, 820, 254 38, 537 4,729 29,071 3,136, 308 1, 618, 529 2,138,430 77.8 July.... 882,118 1, 812,022 41,874 4,515 23,707 3,158, 276 1,636, 573 2,157,405 78.2 August. 859, 524 1, 799,155 35, 648 4,580 20,141 3,195, 502 1, 684,195 2,151,185 79.7 September 866, 300 1, 811,036 32,468 4,726 18,070 3,192,420 1, 649,032 2,225,457 78.0 October 876, 362 1, 835, 728 19,176 3,216 *18, 242 3, 211, 513 1, 631,181 2,309,013 76.7 November 890, 022 1, 825,092 38,123 2,748 24,059 3, 208, 752 1, 617, 298 2, 324, 865 76.1 December 891,457 1,840,300 23,387 2,485 25,285 3,166,019 1, 537, 803 2, 415, 515 73.5 1923 January.. 981, 717 1,918,353 17,176 2,822 43,366 3,201,969 1, 592, 957 2,288,527 75.0 February 969, 757 1,900, 663 44,017 2,933 22,144 3, 208, 682 1,621,374 2, 244, 733 76.1 March. 960, 540 1,873,018 65,860 2,116 19, 546 3,190,625 1,603,160 2, 253,189 75.7 April... 944, 805 1, 868, 551 54,884 3,595 17, 775 3,176, 630 1, 601,397 2, 236, 378 76.0 May... 948,878 1,873,901 38,762 3,143 33,072 3,180,433 1, 601,050 2,243,189 75.9 June.-_ 931,212 1,866, 929 35,902 2,794 25, 587 3, 204,303 1, 629, 765 2,246,535 76.7 July.... 919, 779 1,866, 761 28,752 2,605 21, 661 3,181,220 1, 612,440 2, 242,143 76.4 August 890, 069 1,834, 762 32,863 2,456 19,988 3,194,364 1,641,261 2,228,947 77.6 September 908,193 1,847, 503 38,234 3,121 19,335 3,187,000 1, 613,496 2,264, 090 76.4 October 919, 312 1, 864,146 31,807 4,594 18,765 3,194,285 1, 611,971 2,276, 388 76.1 November 1,875, 291 32,422 4,184 27,067 3,199,810 1, 618,462 2,256,777 76.3 December 931,408 1,881,913 27, 522 4,121 17,852 3,168,984 1, 576,069 2, 292, 306 75.0 * Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
52 ANNUAL EEPOKT OF THE FEDERAL RESERVE BOARD No. %•—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENT- AGES OF FEDERAL RESERVE BANKS, BY MONTHS, 1914-1928—Continued [Monthly averages of daily figures. In thousands of dollars] Deposits Cash reserves Federal Re- Foreign reserve serve Month Member Gov- bank note cir- per- Total re b s a e n rv k e m er e n n - t Go a v n e d rn- Other Total Excess culation c a e g n e tment 1924 January 1,979,913 1,910,877 44,460 3,819 20, 757 3,241,596 1, 703,477 2,112,873 79.2 February 1,954,479 1,892,160 40,182 3,279 18,858 3,239,282 1,741,398 2,034,540 81.2 March 1,991,066 1,915,420 53,861 2,792 18.993 3,222,877 1,720,598 2,013,515 80.5 April 2,004,391 1, 905,354 75, 951 3,008 20,078 3,201,763 1,711,753 1,971,184 80.5 May_._ 1,980,210 1,922,012 34,340 2,864 20.994 3,221,809 1,762,556 1,915,449 82.7 June 2,064,532 2,000,505 42, 582 3,725 17, 720 3,246,997 1,776,082 1,870,823 82.5 July 2,109,552 2,046,240 35,568 7,183 20,561 3,248, 713 1,780,266 1,825,260 82.6 August 2,139,536 2,071,875 34,668 13,350 19,643 3,211,455 1,759,629 1,757,470 82.4 September 2,188,401 *2,120,210 36, 981 13,157 18,053 3,156,623 1,690,483 1,750,498 80.1 October 2,208,309 2,140,761 40,833 8,755 17,960 3,124,202 1,643,552 1,769,354 78.5 November 2,223,364 2,164,429 29,107 8,372 21,456 3,131,153 1,618,500 1,836,189 77.1 December 2,255,346 2,181,761 41, 529 13, 798 18,258 3,056,709 1,513,611 1,884,318 73.8 1925 January 2,276,911 2.194,270 39,930 21,853 20,858 3,072,677 1,574,016 1,754,356 76.2 February 2,233,531 2,158,816 32,457 21,689 20.569 3,041,913 1,574,206 1, 714, 929 77. D March 2,193,473 2,137,427 26,202 8,887 20,957 3,000,252 1,540,047 1,731,223 76.4 April 2,181,000 2,123,131 30,431 6,659 20, 779 2,978,628 1, 531,866 1,708,529 76.6 May 2,191,354 2,132,087 31,454 6,657 21,156 2, 977,357 1,536,433 1,684,876 76.8 June 2,208,968 2.141,271 42,269 6,384 19,044 2,953,024 1,515,833 1,660,130 76. a July... 2,204,389 2,160,281 17, 576 5,722 20,810 2,921,585 1,495, 771 1,635,694 76.1 August 2,209,321 2,151,478 33,186 5,212 19,445 2,896,876 1,473,059 1,626,387 75.5 September 2,214,359 2,161, 329 26,752 6,708 19.570 2,872,807 1,425,944 1,679, 594 73.8 October 2,266,442 2,203,011 33,689 8,922 20,820 2,867,444 1,388,700 1, 713,723 72. a November 2,294,052 2,221,367 32,054 12,278 28,353 2,877,578 1,384,915 1, 724,362 71.6 December 2,281,484 2,218,552 31,105 10,821 21,006 2,805,791 1,280,282 1,817,473 68.5 1926 January 289,298 2,235, 986 23, 714 7,944 21,654 2, 922,466 1,426,550 1, 736,653 72.5 February 274,728 2,208,272 40, 736 5,999 19.721 2,925, 529 1,459,140 1,675, 586 74.1 March 276,724 2,197,682 52,511 7,254 19,277 2,933,885 1,467,665 1,673,416 74.3 April 251,846 2,183,479 42,143 5,502 20.722 2,932,794 1,474,570 1,675,195 74.7 May 253,294 2,199,229 27,671 5,248 21,146 2,952,013 1,488,672 1,686,721 74.9 June. 241,415 2,205,974 12,193 5,738 17,510 2, 975,552 1,509, 732 1,703,312 75.4 July... 262,420 2,211, 545 26,246 5,407 19,222 2,969,505 1,491,804 1,714,636 74.7 August 253,350 2,200,909 25,098 10,127 17,216 2, 965,896 1,497,539 1,699,212 75.0 September 273,205 2,211,367 31, 723 10,856 19,259 2,950,380 1,460,967 1, 734,479 73.6 October 280,180 2,219,023 34,264 7,271 19,622 2,934,877 1,436,684 1,750,326 72.8 November 279,135 2,214,441 28,229 11,917 24,548 2,955,169 1,450,555 1,767,291 73.0 December 289,632 2,218,186 39,758 13,843 17,845 2,929,074 1,385,128 1,856,436 70.6 1927 January. 2,300,204 2,242,854 24,132 11,316 21,902 3,064, 506 1,557,915 1,753, 799 75.6 February 2,266,460 2,212,206 28,132 4,924 21,198 3,137,737 1,662,595 1, 704,703 79.0 March 2,284,809 2,239,952 21,823 6,021 17,013 3,168,365 1,679,931 1, 721,876 79.1 April 2,301,120 2,248,302 29,622 5,521 17,675 3,182,325 1,679,121 1, 744, 530 78.7 May 2,326,816 2,262,397 25,374 5,309 33,736 3,191,623 1,684,975 1, 730,655 78.7 June 2,355,428 2,300,897 20,660 5,341 28,530 3,170,162 |1,658,481 1,718,203 77.8 July 2,339,478 2,288,948 17,420 5,233 27,877 3,156,204 !1,651, 520 1, 714,666 77. & August... 2,331,452 2,283,097 17,890 5,100 25,365 3,145, 581 1, 657,149 1,681,059 78.4 September 2,350,875 2,300,450 20,324 5,675 24,426 3,117,062 1,605,565 1, 721, 726 76.5 October 2,380,856 2,326,009 20,426 8,365 26,056 3,089,483 1,563,305 1, 732,196 75.1 November 2,429,976 2,372,954 12,812 6,227 37,983 3,011,346 1,469,223 1, 729,078 72.4 December 2,435,984 2,399,182 9,976 5,063 21, 763 2,893,417 1,322,856 1, 794,917 68.4 1928 January 2,472,425 2,426,360 19,438 5,233 21, 394 2,944,811 1,413, 756 1,664,263 71.2 February 2,419,482 2,368,092 25,606 5,373 20,411 2,971,768 1,486,132 1,597,043 74.0 March 2,411, 714 2,365,030 23,018 5,368 18, 298 2,940, 725 1,459,979 1,591,615 73.5 April _ 2,450,188 2,396,460 26.796 6,080 20,852 2,885,356 1,387,648 1,600,356 71.2 May 2,438,812 2,387,642 23,821 6,373 20,976 2,806, 772 1,314,076 1,597, 780 69.5 June 2,394,875 2,354,547 12.797 8,437 19,094 2, 727,906 1,242,658 1,617,605 68.0 July.. 2,372,629 2,323, 506 19,468 9,495 20,160 2, 730,221 1,242,910 1,642,226 68.0 August 2,330,159 2, 273, 919 27,860 9,225 19,155 2, 747, 578 1,272,088 1,649,836 69.0 September 2,370,075 2,314,257 17,648 7,318 30,852 2,751,167 1,241,146 1,701,237 67.6 October 2,380, 594 2,332,177 18,694 6,522 23,201 2,753,956 1,230,562 1,725,464 67.1 November 2,401,637 2,352,294 17,542 6,419 25, 382 2, 767, 562 1,228,727 1,745,656 66.7 December 2,415,052 2,366,803 18,807 6,483 22,954 2, 714,744 1,128,688 1,851,969 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 53 No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928 [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Week ending (Saturday)— Total B co il u ls n t d e i d s- Bills U S n ta i t t e e s d D f b o u a r e e n i f k g r s o n m R b e fl s a o e n a r k t ve Total for bought securimember banks 1922 Jan. 7.... 1,505 1,466 1,106 126 234 0.7 38.2 Jan. 14... 1,335 1,303 993 92 218 .7 30.9 Jan. 21... 1, 269 1,244 924 94 226 .7 24.5 Jan. 28... 1,238 1,216 873 253 .7 21.5 Feb. 4... 1,257 1,236 847 303 .7 19.9 Feb. 11.. 1,263 1,249 806 351 .7 13.5 Feb. 18.. 1,226 1,200 753 366 .7 25.6 Feb. 25.. 1,188 1,171 724 361 .7 16.3 Mar. 4... 1,230 1,207 704 411 .7 22.4 Mar. 11.. 1,202 1,182 639 447 .7 19.1 Mar. 18.. 1,222 1,204 604 515 .7 17.1 Mar. 25.. 1,181 1,169 447 .7 11.7 Apr. 1... 1,206 1,192 647 102 443 .7 13.1 Apr. 8... 1,216 1,199 632 102 466 .7 16.3 Apr. 15.. 1,232 1,202 593 97 512 .7 28.9 Apr. 22.. 1,212 1,178 554 87 537 .7 33 2 Apr. 29.. 1,180 1,162 509 84 569 .7 17.7 May 6... 1,238 1,214 505 101 607 .7 22.9 May 13.. 1,221 1,195 477 103 615 .7 24.7 May 20.. 1,201 1,173 477 99 597 .7 27.4 May 27.. 1,186 1,168 104 595 .7 16.8 June 3... 1,210 1,195 467 126 602 .7 14.1 June 10.. 1,205 1,182 428 139 614 .7 23.0 June 17.. 1,214 1,177 419 127 631 .7 36.8 June 24.. 1,145 1,119 436 126 556 26.0 July 1... 1,182 1,155 455 150 550 26.4 July 8.. . 1,235 1,194 482 157 556 40.0 July 15.. 1,185 1,129 422 154 553 54.9 July 22.. 1,151 1,100 412 147 541 49.7 July 29.. 1,120 1,082 153 540 36.6 Aug. 5... 1,123 1,075 407 149 519 47.7 Aug. 12.. 1,094 1,047 395 152 501 46.0 Aug. 19_. 1,100 1,045 396 157 492 53.7 Aug. 26.. 1,091 1,041 387 166 487 49.7 Sept. 2... 1,126 1,075 395 177 502 50.1 Sept. 9... 1,166 1,100 401 191 508 64.9 Sept. 16.. 1,182 1,111 396 204 511 70.6 Sept. 23.. 1,185 1,113 438 220 455 71.3 Sept. 30.. 1,189 1,140 440 238 462 48.9 Oct. 7.. 1,217 1,162 242 477 54.4 Oct. 14. 1,264 1,211 245 478 52.6 Oct. 21. 1,275 1,193 485 255 453 82.2 Oct. 28. 1,226 1,171 261 414 53.9 Nov. 4... 1,261 1,208 579 262 367 52.5 Nov. 11.. 1,283 1,234 626 262 346 48.5 Nov. 18.. 1,280 1,207 623 260 325 71.7 Nov. 25_. 1,235 1,179 619 257 303 55.3 Dec. 2.. 1,270 1,232 664 260 37.5 Dec. 9.. 1,327 1,278 699 265 314 48.1 Dec. 16. 1,331 1,267 673 261 333 62.7 Dec. 23. 1,432 1,322 643 253 426 109.0 Dec. 30. 1,433 1,333 622 254 456 i Includes "other securities," of which the amount in 1922 was less than $1,000,000; see Table 1. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
54 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—ContcL [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Week ending (Saturday) otal Total B m co i e l u l f m s o n r b t d e e i d s r - bo B u il g ls ht U s S t e n i t c e a i u s t t e r e i i s d - D f b o u a r e e n i f k g r s o n m R b e fl a s o e n a r k t ve banks 1923 Jan.6-.. 1,396 I 1,307 596 256 455 0.7 88.7 Jan.13.. 1,305 ! 1,232 510 227 495 . 7 72.2' Jan.20.. 1,197 i 1,133 512 206 415 .7 64.1 Jan. 27.. 1,170 j 1,125 562 204 359 •7 44.1 Feb. 3.. 1,176 ! 1,136 587 , 193 356 _7 39.6 Feb.10. 1,166 ! 1,120 581 186 352 '.7 46.0 Feb. 17. 1,217 1,151 614 186 352 .7 64.6 Feb. 24. 1,218 1,168 623 188 358 .7 49.2 Mar. 3... 1,238 1,190 617 211 362 #7 47.9 Mar. 10.. 1,210 1,162 596 219 347 . 7 47.3 M M a a r r . . 2 1 4 7 . _ . . 1 1 , , 2 2 0 2 8 9 1 1 , , 1 1 5 7 0 8 5 6 9 4 0 3 2 2 2 4 5 1 3 2 3 9 6 5 # . 7 7 5 5 7 0 . . 4 0 Mar. 31.. 1,262 1,219 694 258 267 .7 41.7 Apr. 7... 1,253 1,197 690 264 243 #7 55.0 Apr. 14.. 1,202 1,146 635 271 239 . 7 55.9 Apr. 21.. 1,220 1,154 639 278 237 . 7 65.6 Apr. 28.. 1,182 1,134 651 276 206 .7 47.4 May 5... 1,239 1,186 723 275 187 #7 52.4 May 12.. 1, 218 1,166 699 275 191 . 7 51.1 May 19.. 1,220 1,158 687 278 194 . 7 61.1 May 26- 1,216 1,166 697 267 201 • 7 50.1 June 2__. 1,231 1,190 740 258 192 #7 40.0> June 9-.. 1,220 1,164 732 250 182 . 7 56.1 J J u u n n e e 2 1 3 6 . . . . 1 1 , , 1 15 3 9 2 1 1 1 , , 0 0 9 6 5 6 6 72 9 7 5 2 2 0 2 8 4 1 1 7 3 7 0 . m 7 7 6 6 5 3 . . 4 4 June 30.. 1,172 J 1,122 803 205 114 .7 49.6. July 7... 1, 250 1,185 894 196 95 .7 64.1 July 14.. 1,211 1,137 853 187 97 .7 73.5 July 21_. 1,162 1,091 810 183 98 .7 69.6 July 28.. 1,115 1,066 790 180 96 .7 49.1 Aug. 4__. 1,121 1,072 799 181 93 .7 48.2' Aug. 11.. 1,139 1,082 814 178 90 .7 55.8 Aug. 18.. 1,142 1,078 816 172 89 .7 62.5 Aug. 25.. 1,108 1,059 798 174 87 .7 48.3 Sept. 1.. 1,135 1,094 825 173 96 .7 40.8 Sept. 8_. 1,176 1,122 852 173 96 .7 53.3 Sept. 15. 1,206 1,137 844 179 113 .7 68.7 Sept. 22. 1,164 1,087 808 172 107 .7 75.8 Sept. 29. 1,183 1,131 868 171 91 .7 51.8 Oct. 6.. 1,212 1,154 887 172 95 .7 56.7 Oct. 13. 1,208 1,159 885 181 93 .7 48.4 Oct. 20. 1,228 1,158 878 188 92 .7 69.2 Oct 27. 1,175 1,123 848 188 88 .7 51.4 Nov. 3... 1,199 1,153 855 210 88 .7 45.4 Nov. 10.. 1,225 1,176 839 246 91 .7 48.2 Nov. 17.. 1,235 1,146 794 267 85 .7 89.2 Nov. 24.. 1,165 1,116 762 280 75 .7 48.6 Dec. 1-. 1,195 1,161 782 292 87 .7 33.9 Dec. 8._ 1,216 1,166 764 307 95 .7 49.6 Dec. 15. 1,235 1,178 745 322 ]11 .7 56.1 Dec. 22. 1,266 1,189 758 321 no .7 76.0 Dec. 29. 1,327 1,266 824 339 103 .7 60.2 1 Includes "other securities," of which the amount in 1923 was less than $1,000,000; see Table 1. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 55 No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—Contd. [Averages of daily figures. In millions of dollars] 1 Bills and securities held by F3deral reserve banks W (S e a e t k u r e d n a d y i )— ng Total Total B m c b o i e l a u l f m s o n n r k b t d e s e i d s r - bo B u il g ls ht U s S e n t t c i a i e u t t s e r e i s d - s O e ti c t e h u s e r i i r - f b o f D a r r o e n u i m k g e s n E b e fl s a o e n a r k t ve 1924 Jan. 5 1,253 1,200 729 348 122 0.7 52.6 Jan. 12____ _ 1.088 1,030 605 319 106 .7 57.2 Jan.19 . 994 943 533 293 117 .7 50.6 Jan. 26 959 914 515 277 122 .7 43.9 I Feb. 2 949 915 515 276 125 .7 33.6 Feb. 9 936 908 501 282 125 .7 27.3 Feb. 16 964 927 519 281 127 .7 37.1 Feb. 23 951 911 509 262 139 .7 39.6 Mar. 1 976 946 532 260 155 .7 28.9 Mar. 8 984 941 498 262 181 .7 42.2 Mar. 15 . 1,002 956 472 244 240 .7 45.3 Mar. 22 987 938 433 200 305 .7 48.4 Mar. 29 972 940 481 202 257 .7 31.6 Apr. 5 1,040 996 519 212 265 .7 42.4 Apr. 12 - 1,020 979 510 199 270 .7 41.0 Apr 19 998 i 931 489 174 267 .7 65.8 Apr. 26 - 930 885 467 140 278 .7 44.5 May 3 909 866 453 116 297 .7 42.3 May 10 _ 892 843 439 91 314 .7 47.8 May 17 . 874 823 420 80 323 .7 50.4 May 24 851 812 427 59 327 .7 37.6 May 31 . 879 851 432 78 341 .7 27.5 June 7 901 863 406 60 397 .7 37.5 June 14 893 844 376 45 423 .7 48 8 June 21 _ 891 825 355 54 416 .7 65.7 June 28 871 828 352 46 431 .7 41.8 July 5 922 863 366 58 439 58.3 July 12 897 836 322 59 455 59.9 July 19 864 810 304 39 467 '.7 54.1 July 26 842 802 293 32 478 .7 38.9 Aug 2 864 827 293 25 509 .7 36.7 Aug. 9 . . 878 835 277 21 537 .7 43.1 Aug. 16 871 824 264 18 543 .7 46.0 Aug. 23 871 829 259 27 543 .7 41.5 Aug 30 893 859 266 50 543 .7 32.6 Sept. 6 948 899 283 69 544 3.0 .7 48.5 Sept. 13 970 917 259 91 564 3.0 .7 52.3 Sept. 20 1,030 966 253 98 613 3.0 .6 63.3 Sept. 27 969 925 251 95 576 3.0 .5 43.9 Oct. 4 . 1,031 985 271 136 576 1.9 .5 45.5 Oct. 11 1,053 1,004 247 172 582 1.9 .5 49.1 Oct. 18 1,092 1,028 240 193 593 1.9 .5 63.3 Oct. 25 1,036 986 224 175 585 1.9 .5 49.7 Nov. 1 1,049 1,014 229 198 584 3.0 .5 33.9 Nov. 8 1,121 1,076 238 246 589 3.0 .5 44.3 Nov. 15 1,135 1,078 219 264 592 3.0 .5 56.4 Nov. 22 1,143 1,091 225 277 586 3.0 .5 51.9 Nov. 29 1,142 1,105 228 290 584 3.0 .5 36.7 Dec. 6 1,200 1,152 241 340 564 2 7. 8 .5 47.3 Dec. 13 1,228 1,177 257 354 558 2 7.8 .5 50.3 Dec. 20 1,281 1,203 281 345 570 2 7. 8 .6 76.9 Dec. 27 1,396 1,299 382 373 537 2 7. 8 | .6 96. 0 1 "Other securities" did not exceed $1,500,000 until August, 1924, see Table 1; prior to September, 1924, they are included in U. S. securities. 2 Includes foreign loans on gold; see Table 1. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
56 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—Contd. [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Due W (S e a e tu k r d e a n y d ) i — ng Total Total B m co i e l u l f m s o n r d b te i e d s r - bo B u il g ls ht U s S e n t t c i a i e u t t s e r e i s d - s O t e i c t e h u s e r i i r - f b o f a r r o e n i m k g s n R b e fl a s o e n a r k t ve banks 1925 Jan. 3. 1,328 1,269 341 380 537 10.8 0.6 58.9 Jan.10.. 1,215 1,143 277 349 505 10.8 .6 71.5 Jan.17.. 1,114 1,062 239 328 484 10.8 .6 51.4 Jan. 24.. 1,044 995 237 310 437 10.8 .6 48.3 Jan. 31.. 1,052 1,011 295 307 397 10.8 .6 41.1 Feb. 7... 1,075 1,031 311 313 394 13.5 .6 43.6 Feb. 14. 1,103 1,058 328 326 391 13.5 43.8 Feb. 21.. 1,085 1,040 337 309 381 13.5 44.1 Feb. 28.. 1,115 1,075 385 306 370 13.5 39.8 Mar. 7_. 1,144 1,092 396 305 378 13.2 50.8 Mar. 14. 1,149 1,099 404 297 384 13.2 49.5 Mar. 21. 1,111 1,059 357 284 405 13.2 51.5 Mar. 28. 1,084 1,050 391 302 344 13.2 33.1 Apr. 4__. 1,124 1,087 409 309 356 12.2 36.6 Apr. 11.. 1,125 1,073 391 308 362 12.2 51.2 Apr. 18.. 1,109 1,045 395 282 356 12.2 63.8 Apr. 25.. 1,096 1,042 408 272 351 12.2 53.3 May 2.. 1,104 1,058 432 264 349 12.4 45.9 May 9.. 1,116 1,067 420 271 363 12.4 48.3 May 16. 1,093 1,037 365 283 376 12.4 55.2 May 23. 1,075 1,022 363 285 361 12.4 53.0 May 30. 1,100 1,060 414 284 350 12.4 39.7 JUD6 6-. 1,144 1,084 430 287 355 12.8 58.6 June 13. 1,126 1,068 423 278 354 12.8 56.6 June 20.. 1,115 1,035 436 254 333 12.8 78.7 June 27. 1,093 1,042 447 245 337 12.8 49.4 July 4... 1,172 1,117 511 246 347 12.8 53.7 July 11— 1,151 1,082 486 242 341 12.8 68.4 July 18- 1,110 1,043 459 233 339 12.6 66.1 July 25.. 1,081 1,034 462 226 333 12.4 46.7 Aug. 1-- 1,075 1,035 479 213 331 12.4 38.8 Aug. 8.. 1,133 1,083 529 210 332 12.4 49.9 Aug. 15. 1,140 1,083 534 208 329 12.4 57.0 Aug. 22. 1,143 1,089 554 197 325 12.9 52.6 Aug. 29. 1,153 1,111 564 204 330 12.9 41.5 Sept. 5-. 1,175 1,126 578 212 326 10.3 48.3 Sept. 12. 1,221 1,162 613 214 325 9.8 58.0 Sept. 19. 1,226 1,145 553 217 365 9.9 80.7 Sept. 26. 1,245 1,187 615 236 325 10.7 58.0 Oct. 3... 1,284 1,232 621 330 12.4 52.1 Oct. 10— 1,319 1,258 635 284 326 13.0 60.7 Oct. 17.. 1,347 1,266 633 290 333 11.1 79.6 Oct. 24.. 1,308 1,236 602 299 327 8.6 71.2 Oct. 31- 1,314 1,264 601 329 326 49.9 Nov. 7-. 1,362 1,301 616 348 330 7.0 60.5 Nov. 14. 1,340 1,259 568 351 331 8.5 80.7 Nov. 21. 1,337 1,270 576 352 333 8.9 66.1 Nov. 28. 1,353 1,307 611 354 332 9.6 45.8 Dec. 5— 1,411 1,354 641 362 340 11.2 55.7 Dec. 12. 1,452 1,396 664 373 348 11.5 55.4 Dec. 19.. 1,500 1,418 667 366 374 11.8 80.9 Dec. 26- 1,599 1,487 747 369 359 11.5 111. 2 1 Includes in 1925 foreign loans on gold; see Table 1. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BA.NK CREDIT bi No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—Contd. [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Due Reserve W (S e a e tu k r d e a n y d ) i — ng Total B m co i e l u l f m s o n d r b te i e d s r - bo B u il g ls ht U S n ta i t t e e s d s O t e i c t e h u s e r i i r - f b o f a r r o e n i m k g s n b fl a o n a k t banks ties 1926 Jan. 2. 1,541 1,467 712 370 374 11.2 0.6 72.8 Jan. 9_ 1,406 1,338 607 348 372 10.5 .6 67.9 Jan. 16- 1,271 1,211 506 326 10.0 .6 59.4 Jan. 23. 1,206 1,150 461 310 .6 55.1 Jan. 30- 1,180 1,135 463 301 361 .6 44.2 Feb. 6— 1,207 1,162 495 309 9.7 44.3 Feb. 13.. 1,210 1,166 512 308 336 10.6 42.7 Feb. 20_. 1,219 1,175 533 301 331 10.3 42.5 Feb. 27_. 1,228 1,189 549 302 328 10.5 38.5 Mar. 6_- 1,258 1,210 572 294 332 11.6 47.3 Mar. 13. 1,204 1,160 504 285 359 11.8 43.9 Mar. 20.. 1,184 1,130 509 260 350 11.4 52.7 Mar. 27.. 1,200 1,164 248 307 11.9 34.8 Apr. 3... 1,269 1,217 629 244 331 13.3 51.3 Apr. 10- 1,216 1,172 580 232 346 14.0 42.8 Apr. 17- 1,226 1,180 524 266 376 13.7 44.9 Apr. 24- 1,168 1,118 483 233 388 13.3 50.2 May 1__ 1,178 1,136 531 202 390 13.0 40.5 May 8_. 1,221 1.175 549 217 396 12.4 46.0 May 15.. 1,196 1,145 499 237 398 11.7 50.8 May 22.. 1,187 1,135 487 236 401 11.0 51.1 May 29-. 1,182 1,142 491 240 399 11.9 38.9 June 5_. 1,230 1,180 522 242 404 12.7 49.2 June 12. 1,186 1,137 466 243 416 12.0 48.5 June 19- 1,181 1,113 426 238 438 10.8 67.3 June26_. 1,163 1,119 479 248 382 9.7 43.0 July 3— 1,239 1,191 551 248 384 8.8 47.1 July 10- 1,293 1,228 598 242 379 8.2 65.3 July 17- 1,218 1,156 530 233 386 6.6 62.0 July 24- 1,171 1,118 509 222 381 5.9 52.1 July 31- 1,163 1,124 535 213 372 4.8 38.2 Aug. 7.. 1,210 1,163 560 228 372 3.5 46.6 Aug. 14_. 1,184 1,133 525 238 367 3.2 49.8 Aug. 21-. 1,203 1,152 538 254 358 3.3 49.5 Aug. 28_. 1,201 1,161 571 256 330 3.7 39.7 Sept. 4.. 1,232 1,191 611 258 319 3.7 40.1 Sept. 11. 1,258 1,206 627 265 310 3.7 52.1 Sept. 18.. 1,272 1,205 601 261 339 3.7 66.2 Sept. 25. 1,298 1,240 667 304 3.7 56.6 Oct. 2... 1,329 1,282 274 307 3.7 46.0 Oct. 9__. 1,328 1,271 282 309 3.7 56.4 Oct. 16_. 1,344 1,288 681 295 310 3.4 55.3 Oct. 23. 1,297 1, 237 634 294 306 2.5 59.3 Oct. 30- 1,305 1,265 651 311 301 2.5 38.5 Nov. 6.- 1,349 1,305 664 338 300 2.5 44.0 Nov. 13- 1,301 1,239 585 351 300 2.5 61. 7 Nov. 20. 1,299 1,239 577 354 306 2.5 59.1. Nov. 27. 1,309 1,269 621 344 302 2.5 38.5 Dec. 4— 1,358 1,314 640 306 2.6 43.7 Dec. 11- 1,374 1,325 623 312 2.6 48.3 Dec. 18.. 1,431 1,360 623 387 349 2.6 69.7 Dec. 25- 1,539 1,439 732 388 317 2.6 99.1 i Includes in 1926 foreign loans on gold; see Table 1. 41223—29 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
58 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—Contd. [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Due W (S e a e tu k r d e a n y d ) i — ng Total B m co i e l u l f m s o n r d b te i e d s r - b B ou il g ls ht U s S e t n t c i a i e u t t s e r e i s d - s O e t c t i h e u s e ri r - f b o f a r r o e n i m k g s n R b e fl a s o e n a r k t ve banks 1927 Jan. 1 1,482 1,421 719 383 317 2.6 0.7 60.2 Jan.8 1,378 1,319 622 378 316 3.5 .7 58.2 Jan.15 1,198 1,148 484 346 313 4.8 .7 49.7 Jan. 22 1,124 1,074 421 338 311 3.9 .7 49.3 Jan. 29 1,048 1,012 393 314 303 2.5 .7 35.7 Feb. 5 1,052 1,017 388 323 304 2.5 .7 33.6 Feb. 12 1,028 991 380 304 305 2.5 .7 36.4 Feb. 19 1,037 991 377 304 307 2.1 .7 45.8 Feb. 26 1,044 1,013 413 291 308 2.0 .7 29.8 Mar. 5 1,081 1,046 441 291 312 2.0 .7 35.1 Mar. 12 1,052 1,021 429 277 312 2.0 .7 30.5 Mar. 19 1,075 1,041 387 241 411 2.0 .7 33.3 Mar. 26 1,028 1,000 434 227 337 2.0 .7 26.8 Apr. 2__ 1,067 1,037 458 239 338 2.4 .7 28.8 Apr. 9. 1,096 1,057 465 243 347 2.5 .7 39.1 Apr. 16 1,110 1,052 436 253 361 2.4 57.3 Apr. 23 1,089 1,030 435 255 338 .5 59.0 Apr. 30 1,049 1,011 444 243 322 .7 37.4 May 7 1,083 1,035 242 303 .7 47.4 May 14 1,004 963 473 232 257 .7 40.1 May 21 1,002 956 456 224 274 .7 44.9 May 28 1,057 1,020 470 234 315 .7 35.8 June 4 1,127 1,086 485 236 363 .7 39.9 June 11 1,100 1,063 404 224 433 .7 37.0 June 18 1,060 1,007 394 189 423 .5 3.9 48.6 June 25 1,034 435 186 361 .3 14.6 36.0 July 2 1,130 1,065 484 206 374 1.3 26.6 38.0 July 9__ 1,194 1,103 523 203 375 1.3 39.5 52.0 July 16 1,108 1,010 435 196 378 1.3 47.8 49.7 July 23 1,077 986 415 185 384 1.3 48.7 41.6 July 30 1,053 976 415 172 387 1.3 48.7 27.5 Aug. 6 1,101 1,016 440 170 404 1.3 48.7 36.2 Aug. 13 1,088 1,004 408 175 420 1.3 48.8 34.7 Aug. 20 1,102 1,019 402 171 446 .4 40.6 41.9 Aug. 27 1,086 1,032 401 174 457 .3 22.1 32.6 Sept. 3 1,124 1,080 413 192 474 .3 12.3 32.5 Sept. 10 1,194 1,144 445 205 493 .3 12.3 37.9 Sept. 17 1,204 1,141 401 206 533 .5 10.5 52.6 Sept. 24 1,164 1,121 412 218 490 1.6 40.9 Oct. 1_ 1,203 1,169 430 241 497 1.1 32.9 Oct. 8 1,254 1,212 445 261 506 .7 41.6 Oct. 15 1,267 1,225 442 272 510 .6 41.8 Oct. 22 1,238 1,187 405 277 505 50.2 Oct. 29 1,250 1,219 409 306 503 30.9 Nov. 5 1,301 1,257 396 338 523 42.8 Nov. 12 1,370 1,305 433 340 532 63.8 Nov. 19 1,411 1,358 376 335 646 52.8 Nov. 26 1,380 1,348 413 326 31.0 Dec. 3 1,437 1,403 482 358 562 33.2 Dec. 10 1,488 1,449 468 379 601 38.7 Dec. 17 1,546 1,497 481 373 642 48.5 Dec. 24 1,634 1,553 585 375 592 1.0 80.0 Dec. 31 1,647 1,592 599 386 60S 1.0 54.5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 59 No. 3.—RESERVE BANK CREDIT OUTSTANDING, BY WEEKS, 1922-1928—Contd. [Averages of daily figures. In millions of dollars] Bills and securities held by Federal reserve banks Due W (S e a e tu k r d e a n y d ) i — ng Total Total B m co i e l u l f m s o n r d b te i e d s r - bo B u il g ls ht U s S e n t t c i a i e u t t s e r e i s d - s O e t c t i h e u s e ri r - f b o f a r r o e n m i k g s n R b e fl a s o e n a r k t ve banks 1928 Jan 7 1,593 1,536 545 387 603 0.9 0.6 56.6 Jan. 14 . . 1,422 1,382 461 386 533 .8 .6 40.1 Jan.21 1,329 1,294 436 364 493 .5 .6 34.7 Jan.28 1, 258 1,235 432 352 450 .5 .6 22.8 Feb 4 1,271 1, 246 445 375 426 .5 .6 24.4 Feb. 11 . . 1,267 1,240 465 370 405 .5 .6 26.7 Feb 18 1,272 1,238 475 358 404 .5 .6 33.7 Feb. 25 1,247 1,223 471 350 401 .5 .6 23.4 Mar. 3 1,285 1,262 510 348 403 .9 .6 21.7 Mar. 10 1,292 1,266 519 341 405 1.0 .6 25.9 Mar. 17 ._ 1,308 1,280 491 340 448 .8 .6 25.6 Mar. 24 1,262 1,243 490 340 412 .5 .6 19.1 Mar. 31 . . 1,309 1,289 543 347 398 .9 .6 19.5 Apr. 7 1,407 1,368 627 348 393 1.0 .6 38.5 Apr. 14 1,392 1,358 615 363 379 1.0 .6 33.2 Apr. 21 1,409 1,368 660 360 346 1.0 .6 40.8 Apr. 28 1,397 1,371 705 361 303 1.0 .6 25.6 May 5 1,458 1,426 768 370 287 1.0 .6 31.5 May 12 .. _ 1,456 1,424 781 367 275 1.0 .6 30.8 May 19 1,477 1,442 827 353 260 1.0 .6 34.7 May 26 1,472 1,447 870 337 239 1.0 .6 24.9 June 2 1,531 1,507 985 302 219 1.1 .6 23.5 June 9 1,525 1,488 1,004 265 218 1.1 .6 37.0 June 16 1,556 1,515 1,006 242 267 .9 .6 39.8 June 23 1,499 1,463 1,004 231 227 .5 .6 36.2 June 30 1,522 1,492 1,047 224 221 .5 .6 28.9 July 7 1,662 1,610 1,183 207 220 .5 .6 51.9 July 14 1,558 1,510 1,103 190 216 .5 .6 47.2 July 21 1,480 1,435 1,045 180 209 .5 .6 44.9 July 28 1,453 1,420 1,041 171 207 .5 .6 32.5 Aug. 4 1,486 1,451 1,073 165 213 .5 .6 34.6 Aug. 11__ 1,490 1,456 1,077 169 210 .5 .6 33.6 Aug. 18 1,472 1,429 1,038 183 207 .8 .6 42.8 Aug. 25 1,474 1,440 1,048 184 207 1.0 .6 33.2 Sept. 1. 1, 506 1,475 1.075 186 214 1.0 .6 29.9 Sept. 8 1,556 1,516 ,103 194 217 1.3 .6 39.7 Sept. 15 1,581 1,529 ,064 210 253 2.4 .6 51.6 Sept. 22. 1,600 1,539 L,042 232 260 4.6 .6 60.5 Sept. 29 1,582 1,544 L,040 264 235 4.6 .6 37.4 Oct. 6 1,634 1, 589 L,045 305 234 4.6 .6 44. 2 Oct. 13 1,637 1,604 L.019 340 240 4.6 .6 32.3 Oct 20 1,634 1,588 966 374 242 5.0 .6 45.4 Oct. 27 1,598 1,566 921 406 235 4.0 .7 31.0 Nov. 3 . 1,625 1,591 915 438 235 3.7 .7 32.8 Nov. 10 1,662 1,631 940 454 233 3.7 .7 30.5 Nov. 17 1,652 1,586 880 474 227 4.3 .7 65.9 Nov. 24 1,597 1,555 816 484 251 4.5 .7 41.3 Dec. 1 _ 1,728 1,698 970 482 242 4.4 .7 29.3 Dec. 8 1,790 1,752 1,024 490 233 4.4 .7 37.6 Dec. 15 1,794 1,743 978 484 276 5.3 .7 50.2 Dec. 22 1,818 1,728 930 462 326 10.4 .7 89.4 Dec 29 1,882 1,821 1,090 491 230 10.1 .7 60.2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
60 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4—DEPOSITS OF FEDERAL RESERVE BANKS, BY WEEKS, 1922-1928 [Averages of daily figures. In millions of dollars] W (S e a e tu k rd e a n y d ) i — ng Total M re b e s a m e n r b v k e e r m G er e o n n v - t - o A th l e l r W (S e a e t k u rd en ay d ) in — g Total M re b e s a m e n r b v k e e r m G er e o n n v - t - o A th l e l r 1922 1923 Jan. 7 1,835 1,741 66.7 27.4 Mar. 3 1,966 1,898 45.3 22.4 Jan 14 1,782 1,732 23.1 26.9 Mar. 10 1,944 1,881 41.7 21.0 Jan. 21 „ 1,790 1,692 67.3 30.2 Mar. 17 1,952 1,899 31.9 21.1 Jan 28 1,797 1,675 92.6 29.6 Mar. 24 1,968 1,851 96.1 20.5 Mar. 31 1,980 1,856 101.3 23.1 Feb 4 1,823 1,678 113.2 31.6 Feb. 11- . 1,839 1,685 123.3 30.5 Apr. 7_ 1,964 1,872 71.0 21.2 Feb 18 1,818 1,700 78.7 39.5 Apr. 14 . 1,935 1,863 51.4 20.4 Feb. 25 1,781 1,683 65.4 32.2 Apr. 21 _.. 1,960 1,882 54.6 23.0 Apr. 28 - - 1,923 1,857 44.9 21.1 Mar. 4 1,794 1,702 58.3 33.5 Mar 11 1,776 1,713 27.4 35.3 May 5 1,956 1,871 51.5 33.1 Mar. 18 1,816 1,751 21.1 43.9 May 12 1,935 1,867 39.2 29.1 Mar 25 1,784 1,690 52.2 42.1 May 19 1,950 1,870 50.0 29.6 May 26 _.- 1,956 1,882 26.4 47.6 Apr. 1 „ 1,803 1,693 70.4 39.9 Apr 8 1,802 1,715 46.7 39.8 June 2 1,956 1,879 40.8 36.0 Apr 15 1,823 1,727 55 3 40 4 June 9 1,953 1,872 48.1 32.7 Apr 22 1,835 1,747 46.9 41.1 June 16 1,928 1,887 12.8 28.2 Apr. 29 .. 1,830 1,744 48.3 38.1 June 23__ 1,904 1,851 26.3 26.5 June 30 1,925 1,856 43.7 25.1 May 6 1,874 1,765 66.3 42.8 May 13 1 877 1,789 49 7 38 0 July 7 1,926 1,880 19.2 27 0 May 20 1,882 1,794 51.8 36.0 July 14 — 1,922 1,877 20.7 24.6 May 27 1 881 1,783 63 5 34 0 July 21 1,925 1,865 36.5 23 9 July 28 1,909 1,851 35.7 22.3 June 3 1,881 1,788 58.3 34.8 June 10 1 891 1,809 48 7 32 9 Aug 4 1,907 1,847 37.4 22 5 June 17 __ 1,926 1,852 37.3 37.0 Aug. 11__ 1,894 1,838 31.5 24.7 June 24 1,860 1,807 19.5 33.7 Aug. 18-_ 1,892 1,841 29.8 21.5 Aug. 25 1,876 1,824 29.4 22.4 July 1 1,884 1,816 37.0 30.7 July 8 1,880 1,814 35.5 30.0 Sept. 1 1,892 1,832 39.4 21.0 July 15 1,885 1,826 31.2 28.2 Sept. 8 1,891 1,835 35.1 20.9 July 22 1,893 1,819 45.6 27.9 Sept. 15 1,927 1,875 28.8 22.9 July 29 1,879 1,801 51.2 26.9 Sept. 22 1,904 1,846 33.5 24.1 Sept. 29 1,910 1,835 52.6 22.0 Aug. 5 1,883 1,818 36.1 28.8 Aug 12 1,854 1,798 31.4 25.0 Oct. 6 1,912 1,856 33.2 22.5 Aug 19 1,859 1,801 33.5 24 0 Oct. 13 1,902 1,854 22.9 25.5 Aug 26 1 844 1,782 39 0 22 8 Oct 20 1,942 1,879 40.2 23.1 Oct. 27 _.- 1,913 1,859 31.6 22.7 Sept. 2 _ 1,865 1,791 51.3 23.1 Sept 9 1,858 1,797 38.6 22.8 Nov. 3 1,928 1,866 36.1 25.4 Sept 16 1,876 1,829 22.5 24.5 Nov. 10 1,940 1,880 30.0 30.4 Sent 23 1,870 1,809 38.4 22 1 Nov. 17 1,970 1,885 37.0 47.7 SeDt 30 1,857 1,812 23.3 21 7 Nov. 24 1,926 1,874 28.4 23.6 Oct 7 1,859 1,820 17.8 21.5 Dec. 1 1,927 1,872 32.3 22.9 Oct 14 1,877 1,837 16.7 23.3 Dec. 8 — 1,929 1,876 31.6 21.8 Oct. 21 1,902 1,869 12.2 21.0 Dec. 15 1,939 1,892 24.4 22.2 Oct 28 1,868 1,824 24.8 19.2 Dec. 22 1,902 1,862 17.3 23.0 Dec 29 1,944 1,890 33.6 20.8 Nov. 4 1,890 1,826 38.4 25.7 Nov. 11 1,893 1,826 31.6 35.7 1924 Nov 18 1 904 1,836 38 2 29 6 Jan. 5 1,999 1,932 40.9 25.9 Nov 25 1,880 1,818 41.3 20.3 Jan.12 1,974 1,917 31.8 25.1 Jan 19 1,977 1,909 44.1 24.3 Dec 2 1,868 1,806 43.2 19.2 Jan. 26 1,972 1,892 56.5 23.8 Dec 9 1,884 1,817 47.7 18.9 Dec 16 1,876 1,828 21.8 26.6 Feb.2 1,974 1,902 49.5 22.2 Dec 23 1,887 1,842 8.3 36.8 Feb. 9 1,953 1,889 42.9 21.1 Dec 30 1,915 1,876 7.8 30.9 Feb. 16 1,965 1,906 33.4 25.5 Feb 23 1,944 1,882 40.5 21.2 J J J J a a a a n n n n . . . . 1 2 2 6 3 7 0 . 1 _ 9 23 _ _ 2 1 1 1 , , , , 9 9 9 0 7 8 7 0 0 9 3 1 1 1 1 1 , , , , 9 9 9 9 0 1 2 4 9 7 3 0 2 8 8 6 9 . . . . 7 2 6 5 4 3 5 5 4 4 8 4 . . . . 4 1 2 5 M M M M M a a a a a r r r r r . . . . 1 8 2 2 1 5 2 9 2 2 1 1 1 , , , , , 9 9 9 0 0 6 5 8 0 0 6 3 7 3 4 1 1 1 1 1 , , , , , 8 8 9 9 8 8 8 2 6 9 9 5 8 7 2 4 6 5 1 7 3 0 2 2 5 . . . . . 4 6 2 9 3 2 2 2 2 2 0 2 0 4 0 . . . . . 6 6 8 2 1 Feb 3 1,978 1,901 47.9 28.9 Apr. 5 2,025 1,895 110.2 19.4 Feb. 10 1,955 1,892 38.5 24.3 Apr. 12 2,017 1,893 102.2 21.3 Feb 17 1,985 1,911 42.9 30.8 Apr. 19 2,015 1,915 I 73.1 26.4 Feb. 24___ 1,961 1,893 46.6 21.7 Apr. 26 1,982 1,910 47.7 24.5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 61 No. 4—DEPOSITS OF FEDERAL RESERVE BANKS, BY WEEKS, 1922-1928—Con. [Averages of daily figures. In millions of dollars] W (S e a e tu k r d e a n y d ) i — ng Total M re b e s a e m n rv b k e er m G er e o n n v - t - o A th l e l r W (Sa e t e u k r d e a n y d ) i — ng Total M re b e s a e m n rv b k e er m G er e o n n v - t - o A th l e l r 1924 1925 May 3 1,981 1,919 37.2 24.9 July 4 2,229 2,174 26.6 28.3 May 10.-. 1,972 1,922 26.5 23.1 July 11 2,198 2,154 17.3 27.0 May 17... 1,981 1,926 31.4 23.7 July 18 2,205 2,166 13.3 25.3 May 24... 1,976 1,917 34.7 24.4 July 25 2,197 2,155 16.3 25.5 May 31.-. 1,987 1,921 43.0 22.8 Aug. 1-.. 2,191 2,142 22.9 25.8 June 7 2,026 1,963 40.7 21.9 Aug. 8... 2,221 2,158 37.3 25.4 June 14... 2,067 2,003 43.6 19.9 Aug. 15.. 2,212 2,153 33.8 25.3 June 21.-. 2,093 2,037 33.5 22.8 Aug. 22.. 2,206 2,149 31.8 24.9 June 28... 2,081 2,008 51.7 21.1 Aug. 29.. 2,203 2,149 30.1 23.7 July 5 2,074 2,013 34.1 26.8 Sept. 5 — 2,204 2,150 29.6 24.2 July 12. _., 2,078 2.026 26.3 25.3 Sept. 12.. 2,207 2,157 25.5 24.4 July 19-. 2,114 2,056 33.1 24.7 Sept. 19_. 2,210 2,166 16.6 27.5 July 26-.. 2,126 2,054 42.6 29.8 Sept. 26-. 2,223 2,161 34.0 27.5 Aug. 2.-. 2,149 2,067 50.7 31.4 Oct. 3— 2,234 2,177 29.6 27.6 Aug. 9..- 2,141 2,071 38.3 32.0 Oct. 10- 2,249 2,199 22.8 27.4 Aug. 16. -. 2,140 2,081 25.5 33.4 Oct. 17- 2,280 2,213 35.2 31.9 Aug. 23... 2,138 2,072 32.0 33.5 Oct. 24- 2,271 2,201 40.6 29.1 Aug. 30--. 2,136 2,066 36.1 Oct. 31- 2,281 2,211 38.7 31.4 Sept. 6— 2,146 2,075 38.6 32.3 Nov. 7_. 2,309 2,234 31.5 43.0 Sept. 13... 2,181 2,113 36.8 31.2 Nov. 14. 2,298 2,224 22.7 51.5 Sept. 20-. 2,248 2,195 20.6 32.4 Nov. 21- 2,305 2,235 34.0 35.9 Sept. 27-. 2,176 2,101 45.2 29.9 Nov. 28. 2,273 2,201 37.7 34.1 Oct. 4 2,196 2,114 54.3 28.0 Dec. 5— 2,283 2,205 44.7 33.1 Oct. 11-- 2,204 2,133 44.6 26.8 Dec. 12.., 2,287 2,214 41.1 31.7 Oct. 18—. 2,238 2,159 52.0 26.8 Dec. 19.. 2,278 2,224 23.9 30.0 Oct. 25--. 2,196 2,141 28.0 27.0 Dec. 26.. 2,262 2,205 26.6 30.6 Nov. 1 2,189 2,132 30.2 26.8 1926 Nov. 8-... 2,218 2,159 26.9 31.7 Jan. 2 2,301 2,249 17.7 34.5 Nov. 15.- 2,231 2,175 25.9 29.9 Jan. 9 2,309 2,257 18.3 34.1 Nov. 22.. 2,244 2,183 31.3 29.3 Jan.16 2,297 2,248 19.0 30.3 Nov. 29.. 2,212 2,154 29.8 28.3 Jan.23 2,285 2,229 26.3 29.4 Jan. 30 2,264 2,208 31.4 24.9 Dec. 6--.. 2,243 2,182 30.6 29.9 Dec. 13... 2,246 2,177 38.0 31.2 Feb. 6 2,279 2,215 41.3 22.4 Dec. 20... 2,236 2,174 29.4 32.2 Feb. 13 2,274 2,210 33.6 30.7 Dec. 27... 2,264 2,173 59.0 32.1 Feb. 20 2,283 2,217 41.9 24.5 Feb. 27 2,261 2,192 44.2 25.1 1925 Jan.3 2,307 2,214 53.5 39.0 Mar. 6__ 2,279 2,204 50.3 25.0 Jan.10 2,301 2,220 38.5 42.8 Mar. 13. 2,263 2,188 50.0 24.5 Jan. 17-... 2,288 2,213 31.8 43.1 Mar. 20_ 2,265 2,215 21.0 29.0 Jan. 24.-. 2,248 2,170 33.9 43.9 Mar. 27. 2,273 2,178 67.9 26.7 Jan. 31 2,256 2,164 51.3 41.1 Apr. 3— 2,312 2,197 84.8 30.0 Feb. 7--.. 2,250 2,166 38.9 44.8 Apr. 10.. 2,256 2,172 58.4 25.2 Feb. 14.-. 2,242 2,165 29.0 48.1 Apr. 17.. 2,272 2,202 44.5 25.2 Feb. 21. _. 2,222 2,152 30.4 39.7 Apr. 24.. 2,230 2,178 25.6 26.3 Feb. 28.-. 2,220 2,152 31.5 36.1 May 1__ 2,232 2,184 21.9 25.9 Mar. 7_._ 2,207 2,143 35.1 28.4 May 8__ 2,260 2,203 28.9 28.2 Mar. 14.. 2,216 2,161 26.3 28.3 May 15. 2,254 2,198 28.2 27.4 Mar. 21... 2,187 2,147 8.1 32.3 May 22 _ 2,258 2,205 27.5 25.6 Mar. 28. . 2,166 2,108 27.6 30.7 May 29 _ 2,238 2,189 25.7 23.4 Apr. 4.... 2,181 2,115 37.7 28.4 June5__ 2,249 2,203 20.5 25.1 Apr. 11... 2,174 2,116 28.8 28.8 June 12 _ 2,239 2,209 7.0 22.8 Apr. 18-_. 2,180 2,125 30.1 25.1 June 19, 2,245 2,210 9.5 25.4 Apr. 25... 2,185 2,126 31.2 27.7 June 26. 2,235 2,197 16.6 21.8 May 2.,.. 2,196 2,135 31.1 29.7 July 3— 2,268 2,225 17.9 25.1 May 9 2,201 2,142 28.9 29.7 July 10. _ 2,273 2,222 22.1 28.5 May 16... 2,192 2,140 25.1 27.2 July 17.. 2,266 2,220 23.5 22.7 May 23... 2,182 2,122 33.4 26.1 July 24. _ 2,248 2,199 27.5 21.6 May 30-.. 2,186 2,123 36.8 26.3 July 31- 2,248 2,193 32.0 23.4 June 6 2,206 2,136 43.2 26.7 Aug. 7__ 2,274 2,217 29.7 27.2 June 13-.. 2,209 2,135 49.1 25.1 Aug. 14 _ 2,240 2,197 16.1 26.9 June 20... 2,220 2,161 32.5 26.0 Aug. 21 _ 2,250 2,199 25.4 25.8 June 27..., 2,201 2,128 48.7 24.5 Aug. 28. 2,247 2,191 27.9 27.8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
62 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4—DEPOSITS OF FEDERAL RESERVE BANKS, BY WEEKS, 1922-1928—Con. [Averages of daily figures. In millions of dollars] W (S e a e tu k r d e a n y d ) i — ng Total M re b e s a m e n r k b v e e r m G er o e n v - n - t o A th l e l r W (S e a e tu k r d e a n y d ) i — ng Total M re b e s a m e n r b k v e e r m G er o e n v n - - t o A th l e l r 1926 1927 Sept. 4_ 2,251 2,197 22.2 32.2 Nov. 5 2,395 2,338 18.8 38.1 Sept. 11 ._! 2,244 2,207 8.0 28.9 Nov. 12.... 2,423 2,342 25.0 56.1 Sept. 18 2,271 2,225 13.5 32.3 Nov. 19 ... 2,475 2,416 10.5 48.0 Sept.25_ 2,296 2,203 63.4 29.8 Nov. 26.__. 2,415 2,372 3.7 39.0 Oct.2_. 2,297 2,219 51.0 26.7 Dec. 3__ 2,431 2,395 3.4 32.5 Oct. 9._ 2,280 2,226 29.8 24.6 Dec. 10_ 2,430 2,399 2.2 28.8 Oct. 16.. 2,293 2,233 29.5 30.6 Dec. 17_ 2,436 2,405 4.0 27.1 Oct. 23.. 2,273 2,213 35.2 24.7 Dec. 24_ 2,419 2,377 16.7 24.9 Oct. 30.. 2,274 2,206 40.6 27.1 Dec. 31 _ 2,460 2,415 20.6 24.5 Nov. 6 2,294 2,222 31.6 40.2 1928 Nov. 13 2,273 2,212 18.2 42.6 Jan. 7 2,517 2,466 21.3 30.0 Nov. 20 2,283 2,219 30.7 32.9 Jan.14 2,486 2,441 18.2 26.8 Nov. 27 2,265 2,203 30.7 31.7 Jan. 21 2,469 2,424 18.1 26.7 Jan. 28 2,436 2,391 20.1 24.4 Dec. 4... 2,283 2,217 34.8 31.4 Dec. 11.. 2,268 2,208 30.9 28.7 Feb. 4__. 2,435 2,387 24.3 23.5 Dec. 18.. 2,282 2,229 29.3 23.9 Feb. 11.. 2,428 2,378 25.5 24.3 Dec. 25. 2,298 2,205 63.1 29.4 Feb. 18.. 2,431 2,372 26.1 33.0 Feb. 25.. 2,398 2,351 23.8 23.2 1927 Jan.1 2,316 2,231 35.8 49.5 Mar. 3.. 2,419 2,366 30.6 22.6 Jan. 8 2,349 2,284 13.2 52.1 Mar. 10. 2,420 2,369 27.6 23.0 Jan. 15 2,298 2,251 19.5 27.7 Mar. 17. 2,432 2,392 15.5 24.2 Jan. 22 2,297 2,237 32.3 27.6 Mar. 24. 2,381 2,342 14.3 24.9 Jan. 29 2,267 2,213 29.8 23.9 Mar. 31. 2,405 2,353 28.6 23.0 Feb. 5.- 2,271 2,219 28.8 23.0 Apr. 7— 2,451 2,397 25.4 28.3 Feb. 12.. 2,255 2,204 22.3 28.6 Apr. 14.. 2,447 2,400 21.9 25.2 Feb. 19 _ 2,276 2,219 26.4 30.9 Apr. 21.. 2,458 2,401 28.6 28.2 Feb.26_. 2,258 2,203 33.0 22.1 Apr. 28.. 2,439 2,382 30.8 26.1 Mar. 5__ 2,277 2,218 37.1 22.2 May 5_. 2,469 2,407 32.0 30.4 Mar. 12_ 2,271 2,222 23.8 24.9 May 12. 2,450 2,401 21.7 26.9 Mar. 19_ 2,313 2,271 17.2 24.5 May 19. 2,437 2,391 19.7 25.9 Mar. 26. 2,277 2, 246 8.9 22.0 May 26. 2,424 2,377 21.4 25.8 Apr. 2... 2,292 2,240 31.2 20.5 June 2... 2,432 2,379 26.2 26.9 Apr. 9... 2,296 2,249 24.7 21.8 June 9— 2,415 2,372 16.1 26.8 Apr. 16.. 2,308 2,251 32.2 25.2 June 16-. 2,418 2,377 13.1 27.4 Apr. 23.. 2,312 2,251 35.2 25.5 May 23. 2,359 2,325 5.4 29.0 Apr. 30.. 2,293 2,246 25.1 21.4 May 30. 2,367 2,326 13.0 27.7 May 7__ 2,335 2,261 22.9 51.0 July 7_._ 2,434 2,369 31.5 33.0 May 14- 2,323 2,264 21.2 38.0 July 14.. 2,381 2,337 13.7 30.6 May 21 _ 2,325 2,262 27.6 35.0 July 21.. 2,350 2,308 12.8 28.9 May 28_ 2,331 2,270 27.4 33.4 July 28.. 2,341 2,294 20.2 26.7 June4__ 2,354 2,289 28.0 36.5 Aug. 4... 2,356 2,298 30.4 27.7 June 11. 2,369 2,311 24.8 32.9 Aug. 11.. 2,342 2,274 39.8 28.3 June 18_ 2,353 2,306 11.8 35.3 Aug. 18.. 2,320 2,271 20.2 28.4 June 25 _ 2,324 2,275 18.3 30.2 Aug. 25.. 2,310 2,259 22.3 28.7 July 2... 2,368 2,305 25.2 37.7 Sept. l._ 2,330 2,278 22.9 28.6 July 9__. 2,360 2,307 15.5 37.0 Sept. 8._ 2,329 2,284 19.4 25.3 July 16.. 2,335 2,287 14.4 33.1 Sept. 15. 2,376 2,324 15.7 35.8 July 23.. 2, 330 2,283 16.3 31.0 Sept. 22. 2,404 2,335 14.4 54.8 July 30.. 2,321 2,270 21.1 29.8 Sept. 29. 2,371 2,312 20.9 38.3 Aug. 6__ 2, 344 2,291 23.1 30.3 Oct. 6._ 2,387 2,334 20.2 32.6 Aug. 13_. 2,328 2,286 12.5 29.5 Oct. 13. 2,376 2,331 10.5 34.4 Aug. 20_. 2,338 2,287 19.2 31.4 Oct. 20- 2,388 2,340 18.1 29.7 Aug. 27_. 2,322 2,272 19.7 30.4 Oct. 27. 2,373 2,324 23.7 25.7 Sept. 3__ 2,332 2,282 20.2 30.0 Nov. 3.. 2,393 2,342 21.4 29.6 Sept. 10- 2,350 2,300 20.6 29.7 Nov. 10. 2,401 2,347 19.0 35.0 Sept. 17. 2, 371 2,323 14.1 33.1 Nov. 17. 2,416 2,357 20.4 38.6 Sept. 24. 2,333 2,284 20.1 28.7 Nov. 24. 2,381 2,346 9.9 25.5 Oct. 1.. 2,352 2,299 23.6 28.9 2,416 2,368 21.3 26.2 Oct. 8- 2,376 2,322 25.0 29.3 Dec. 8... 2,429 2,375 26.0 28.2 Oct. 15. 2,386 2,332 17.6 36.1 Dec. 15.. 2,424 2,369 24.3 30.5 Oct.22. 2,377 2,324 15.8 36.7 Dec. 22.. 2,369 2,332 6.4 30.2 Oct. 29. 2,386 2,328 23.1 35.3 Dec. 29.. 2,412 2,366 16.3 30.1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESEKVE BANK CREDIT 63 No. 5.—PRINCIPAL RESOURCES AND LIABILITIES OP FEDERAL RESERVE BANKS, BY WEEKS [In millions of dollars] Bills and securities Deposits Fed- Date Total i c e o B d d u i i s l f n l o - s t r - Bil B ls o b u o g u h g t ht U de n r - U. S B . o se u c g u h r t itie U d s e n r - s T c e r o a r e v s t - a h e l s Total r M e b s b a e e e n m r r k v - e O p d t o h e s - e - r i s n c n e e o u r r r e c l t a v a - e i l e r - s mem- Total out- resale Total out- resale bal- its tion ba b n e k r s right m ag e re n e t - right a m g e re n e t - ances 1928 Jan.4 1,536 521 387 308 79 627 544 83.0 2,889 2,536 2,486 51 1,761 Jan. 11.... 1,378 439 393 338 55 545 521 24.3 2,967 2,517 2,473 44 1,680 Jan. 18.... 1,281 412 369 330 39 499 493 6.8 2,976 2,472 2,432 40 1,624 Jan. 25,— 1,174 385 347 319 28 441 435 5.8 2,988 2,402 2,355 47 1,585 Feb. 1_.__ 1,235 423 377 335 42 434 419 14.4 2,971 2,452 2,405 47 1,577 Feb. 8 1,230 459 369 341 28 401 399 2.4 2,985 2,445 2,395 50 1,584 Feb. 15— 1,245 481 355 323 32 408 401 7.2 2,981 2,444 2,391 53 1,586 Feb. 21... 1,216 461 353 315 38 402 399 2.4 2,984 2,405 2,357 48 1,592 Feb. 29... 1,245 493 344 303 41 408 399 8.5 2,974 2,426 2,375 51 1,588 Mar. 7.... 1,224 482 338 299 39 403 399 3.7 2,976 2,411 2,361 49 1,591 Mar. 14... 1,218 472 343 303 40 401 396 4.7 2,957 2,403 2,362 41 1,574 Mar. 21... 1,195 477 333 294 39 385 380 5.7 2,946 2,360 2,322 37 1,565 Mar. 28... 1,257 524 346 289 57 386 379 6.4 2,931 2,404 2,357 47 1,567 Apr. 4 1,329 601 344 290 54 383 377 6.1 2,908 2,435 2,401 34 1,601 Apr. 11 — 1,359 619 362 299 63 378 369 9.2 2,913 2,478 2,432 46 1,589 Apr. 18... 1,312 620 351 315 36 341 326 14.3 2,885 2,423 2,392 31 1,582 Apr. 25... 1,381 709 366 332 34 305 293 11.4 2,886 2,475 2,417 57 1,573 May 2 1,413 757 363 332 31 292 279 13.7 2,868 2,494 2,442 52 1,591 May 9 1,421 111 365 344 21 277 264 13.6 2,848 2,474 2,426 48 1,591 May 16.._ 1,418 807 347 329 18 262 251 11.1 2,802 2,434 2,382 52 1,583 May 23... 1,410 847 331 308 23 230 221 9.1 2,795 2,417 2,370 47 1,579 May29_._ 1,468 944 304 283 21 219 204 15.5 2,757 2,408 2,357 50 1,593 June 6 1,460 982 266 253 13 210 197 12.9 2,761 2,424 2,385 39 1,598 June 13___ 1,508 1,043 240 229 11 223 212 11.0 2,734 2,436 2,392 44 1,605 June 20.._ 1,438 991 224 212 12 223 215 8.0 2,737 2,366 2,332 34 1,599 June 27— 1,468 1,032 223 199 24 212 200 12.0 2,738 2,382 2, 345 37 1,605 July 3 1,621 1,191 210 181 29 220 197 23.0 2,693 2,459 2,403 56 1,660 July 11.. _ 1,495 1,089 188 173 15 218 202 15.8 2,747 2,407 2,365 42 1,640 July 18... 1,403 1,012 181 169 12 209 197 12.3 2,759 2,349 2,307 42 1,619 July 25. .- 1,402 1,025 169 161 8 208 197 10.5 2,761 2,346 2,300 46 1,607 Aug. 1 1,464 1,086 166 154 12 212 201 10.6 2,756 2,402 2,344 59 1,613 Aug. 8.... 1,431 1,061 162 152 10 208 197 10.8 2,755 2,334 2,266 69 1,628 Aug. 15.._ 1,400 1,003 190 170 20 206 197 9.2 2,763 2,323 2,285 38 1,639 Aug. 22... 1,429 1,037 184 159 25 207 197 9.8 2,761 2,326 2,281 45 1,642 Aug. 29... 1,433 1,039 184 156 28 209 197 11.9 2,765 2,325 2,269 56 1,651 Sept. 5.... 1,474 1, 080 187 148 39 206 197 9.3 2,747 2,306 2,273 32 ,701 Sept. 12... 1,504 1,069 211 161 50 221 213 8.7 2,771 2,388 2,349 39 L, 688 Sept. 19... 1,560 1,094 237 190 47 225 213 12.1 2,768 2,459 2, 361 98. L, 680 Sept. 26— 1,508 1,011 263 204 59 229 213 15.7 2,771 2,366 2,316 50 ,682 Oct. 3 1,571 1,026 310 242 68 231 213 17.2 2,751 2,414 2,350 64 L, 704 Oct. 10-__ 1,556 993 332 266 66 227 211 15.8 2,753 2,346 2,313 33 L, 725 Oct. 17_ .. 1,552 936 379 303 76 231 210 21.0 2,769 2,395 2,359 36 L, 717 Oct. 24__. 1,548 912 401 329 72 231 207 24.4 2,778 2,374 2,322 53 L, 710 Oct. 31__- 1,603 932 440 356 84 227 200 26.6 2,773 2,419 2,371 48 L, 710 Nov. 7.... 1,632 957 449 380 69 223 197 25.6 2,768 2,385 2,330 55 1,742 Nov. 14... 1,558 858 474 401 73 222 197 25.7 2,788 2,406 2,365 41 1,732 Nov. 21... 1,515 800 484 421 63 226 205 21.4 2,800 2,378 2,346 32 1,717 Nov. 28... 1,706 990 482 430 52 229 206 23.6 2,722 2,411 2,361 50 1,766 Dec. 5 1,721 1,012 478 420 58 227 197 30.1 2,737 2,436 2,382 53 1,790 Dec. 12... 1,763 1,028 494 434 60 236 203 33.0 2,746 2,466 2,409 57 1,814 Dec. 19... 1,701 947 453 419 34 291 275 15.8 2,724 2,356 2,326 31 1,869 Dec. 26__. 1,899 1,168 489 422 67 232 197 35.3 2,689 2,455 2,409 46 1,911 1 Includes "other securities." Back figures .—See Annual Report for 1927 (Table 5), 1926 (Table 12), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
64 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 6.—FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES IN DETAIL, DECEMBER 31, 1928 l [Amounts in the column to the right are those shown in the Board's weekly statement, their components being shown in the column to the left. In thousands of dollars] RESOURCES Gold with Federal reserve agents 1,229,537 Gold redemption fund with United States Treasurer 77,900 Gold held exclusively against Federal reserve notes _ l, 307,437 Gold settlement fund with Federal Reserve Board _ 687,044 Gold and gold certificates held by banks: Gold coin 132,482 Gold bullion and foreign gold coin 174,769 Gold certificates 282,500 Total gold and gold certificates held by banks 589,751 Total gold reserves 2,584,232 Eeserves other than gold: Legal-tender notes.. 48,529 Silver certificates 64,552 Standard silver dollars 11,527 Total reserves other than gold _ 124,608 Total reserves 2, 708,840 Nonreserve cash: National-bank notes.. 66,955 Federal reserve bank notes 6 Subsidiary silver, nickels, and cents 12,924 Total nonreserve cash 79,885 Bills discounted: Secured by United States Government obligations 659,216 Other bills discounted 397,250 Total bills discounted 1,056,466 Bills bought in the open market: Bills bought outright „_ - 439,004 Bills bought under resale agreement _ _ 50,066 Total bills bought in open market 489,070 United States securities bought under resale agreement: United States bonds 2,290 Treasury notes) 10,180 Certificates... 18,461 Total United States securities bought under resale agreement 30,931 United States securities bought outright: Liberty bonds 39,764 Bonds issued since 1921___ _ 8,882 Other United States bonds _ 2,948 Total bonds 51,594 Treasury notes - _ 95,783 Certificates of indebtedness 49,756 Total United States securities bought outright 197,133 Total United States Government securities... 228,064 Other securities: Federal intermediate credit bank debentures 9,825 Municipal warrants 60 Total other securities - 9,885 Total bills and securities 1,783,485 Due from foreign banks 728 Uncollected items: Transit items... - 630, 735 Exchanges for clearing house - 31,863 Other cash items _ _ 21,370 Federal reserve notes of other Federal reserve banks 28,706 Total uncollected items - 712, 674 1 Before closing of books at end of year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE B^LNK CREDIT 65 No. 6.—FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES IN DETAIL DECEMBER 31, 1928—Continued [Amounts in the column to the right are those shown in the Board's weekly statement, their components being shown in the column to the left. In thousands of dollars] All other resources: Bank premises _ _ 60,604 Claims account closed or suspended banks _ 3,158 Overdrafts—member banks 232 Premium on securities ___ _._ _ 565 Interest accrued.. _ ___ ... 1,140 Deferred charges 714 Suspense account and miscellaneous assets _ _ 1,702 Total all other resources _ - -- 7,511 Total resources _ _ . 5,353,727 LIABILITIES Federal reserve notes outstanding (issued to Federal reserve bank)_ 2,277,354 Held by banks and branches _._ _ _ 426,322 Forwarded for redemption _ 12,838 Federal reserve notes in actual circulation 1,838,194 Deposits: Members—reserve account _ _ 2,388,071 Government __ _ 20,888 Foreign bank _ _ _ 5,775 Other deposits— Nonmembers' clearing account __ 17,617 Officers' checks.-. _ _ 2,066 Federal reserve transfer and exchange drafts _ 280 Allother ._ 1,510 Total other deposits.- - 21,473 Total deposits - 2,436,207 Deferred availability items: Government transit items _ _ - 5,620 All other transit items 653,883 Total deferred availability items ... _ 659,503 Capital paid in _ ___ ._._ 146,936 Surplus _-. _ _ 233,319 All other liabilities: Earnings- Gross earnings _._ 64,053 Current expenses 26,905 Current net earnings _._ 37,148 Add—Other real estate—net income _._ 49 Deduct— Profit and loss _ 1,488 Furniture and equipment 640 Dividends accrued since closing of books _ _ 8,459 Net earnings available for depreciation allowances, reserves, surplus, and franchise tax _ 26,610 Reserve for self-insurance 2,157 Reserves for losses account failed or suspended banks 3,199 Miscellaneous reserves. _ 293 Accrued dividends unpaid 894 Unearned discount _. _ _ _ _. 3,882 Accrued taxes, other than franchise tax, unpaid. _ 581 Discount on securities 1,308 Suspense account and miscellaneous liabilities _. 644 Total all other liabilities - 39,568 Total liabilities 5,353,727 Contingent liability on bills purchased for foreign correspondents 324,699 i Before closing of books at end of year. Back figures—See Annual Reports for 1927 (Table 6) and 1926 (Table 13). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
66 A.NNUAX REPORT OF THE FEDERAL RESERVE BOARD No. 7.—RESOURCES AND LIABILITIES OP FEDERAL RESERVE BANKS AT THE END OF EACH MONTH [In millions of dollars] 1927 1928 Dec. 31 Jan. 31 Feb. 29 Mar. 31Apr. 30 May 31 June 30 RESOURCES Gold with Federal reserve agents. 1,539 1,461 1,389 1,352 1,189 1,109 1,143 Gold redemption fund with U. S. Treasury... 57 42 46 51 62 64 65 Gold held exclusively against Federal reserve notes 1,596 1,503 1,435 1,403 1,251 1,173 1,208 Gold settlement fund with Federal Reserve Board 528 659 753 691 865 789 685 Gold and gold certificates held by banks: United States gold coin 111 131 121 149 139 156 164 Gold bullion and foreign coin 161 148 140 162 128 160 207 Gold certificates _ 337 356 359 325 315 317 284 Total gold reserves 2,733 2,797 2,808 2,729 2,698 2,595 2,549 Reserves other than gold 134 169 166 162 155 148 146 Total reserves 2,867 2,966 2,974 2,891 2,854 2,742 2,695 Nonreserve cash 77 85 70 57 57 56 51 Bills discounted _ 582 423 493 599 834 1,021 1,095 Bills bought: Outright- . .. 310 333 303 296 326 272 194 Under resale agreement 82 46 41 54 31 21 23 Total bills bought 392 379 344 350 357 292 217 United States securities: Bought outright 560 431 402 387 281 204 199 Under resale agreement 57 6 6 8 15 16 36 Total United States securities 617 437 408 395 296 220 235 Other securities 1 1 1 1 1 1 Total bills and securities _ 1,591 1,240 1,245 1,345 1,488 1,534 1,548 D Re u s e e r fr v o e m b a f n or k e i f g l n o a b t1anks «. 63 1 1 1 4 18 1 19 1 7 1 1 1 4 37 1 Total reserve bank credit outstanding 1,655 1,255 1,264 1,365 1,496 1,549 1,586 Federal reserve notes of other Federal Reserve banks 24 20 17 13 15 18 16 Other uncollected items not included in float- 651 563 580 540 534 599 562 Bank premises 58 59 59 59 59 60 60 All other resources.. __ 15 10 11 10 10 9 8 Total resources _ 5,346 4,957 4,975 4,935 5,025 5,033 4,977 LIABILITIES Federal reserve notes: Held by other Federal reserve banks 24 20 17 13 15 18 16 Outside Federal reserve banks 1,766 1,561 1,571 1,590 1,587 1,588 1,629 Total notes in circulation 1,790 1,581 1,588 1,603 1,602 1,606 1,645 Deposits: Member bank—reserve account 2,487 2,391 2,375 2,366 2,442 2,371 2,325 Government 18 20 28 21 30 40 24 Foreign bank 5 5 6 6 6 6 9 Other deposits... 21 19 17 17 24 19 20 Total deposits 2,531 2,435 2,426 2,410 2,502 2,436 2,378 Deferred availability items _ 651 563 580 540 534 599 562 Capital paid in _ 132 134 137 136 138 140 141 Surplus.- _ ._ . 233 233 233 233 233 233 233 All other liabilities 8 10 12 14 16 19 18 Total liabilities 5,346 4,957 4,975 4,935 5,025 5,033 4,977 Contingent liability on bills purchased for foreign correspondents 229 237 239 242 261 268 308 1 Uncollected items (exclusive of Federal reserve notes of other Federal reserve banks) in excess of deferred availability items. 2 Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BAJSTK CREDIT 67 No. 7.—RESOURCES AND LIABILITIES OP FEDERAL RESERVE BANKS AT THE END OF EACH MONTH—Continued [In millions of dollars] 1928 July 31 Aug. 31 Sept. 30 Oct. 31 Nov. 30 Dec. 31 RESOURCES Gold with Federal reserve agents 1,125 1,090 1,200 1,182 1,140 1,230 Gold redemption fund with U. S. Treasury 70 66 66 72 74 78 Gold held exclusively against Federal reserve notes 1,194 1,157 1,265 1,254 1,214 1,307 Gold settlement fund with Federal Reserve Board 678 736 680 709 790 687 Gold and gold certificates held by banks: United States gold coin _« - - 171 168 164 164 144 132 Gold bullion and foreign coin 247 252 197 200 176 175 Gold certificates. 307 286 302 314 233 282 Total gold reserves ». 2,597 2,600 2,609 2,641 2,556 2,584 Reserves other than gold 154 137 131 132 112 125 Total reserves 2,751 2,737 2,739 2,773 2,668 2,709 Nonreserve cash 58 49 47 57 44 80 Bills discounted 1,031 1,108 1,071 932 1,088 1,056 Bills bought: Outright . . - 149 160 224 356 427 439 Under resale agreement 13 32 60 84 59 50 Total bills bought _._ 162 192 284 440 486 489 United States securities: Bought outright 204 208 214 200 206 197 Under resale agreement 11 11 29 27 31 31 Total United States securities 215 219 243 227 237 228 Other securities _ 1 5 4 4 10 Total bills and securities 1,408 1,519 1,602 1,603 1,815 1,783 Due from foreign banks . . 1 1 1 1 1 1 Reserve bank float1 24 33 38 19 21 24 Total reserve bank credit outstanding 1,433 1,553 1,641 1,623 1,837 1,808 Federal reserve notes of other Federal reserve banks.__ 21 23 19 20 21 29 Other uncollected items not included in float. 573 546 615 656 665 660 Bank premises 60 60 60 61 61 59 All other resources _ 8 9 9 9 10 7 Total resources 4,905 4,978 5,130 5,198 5,305 5,352 LIABILITIES Federal reserve notes: Held by other Federal reserve banks 21 23 19 20 21 29 Outside Federal reserve banks _ 1,594 1,663 1,700 1,690 1,771 1,809 Total notes in circulation 1,615 1,686 1,719 1,710 1,792 1,838 Deposits: Member bank—reserve account 2,267 2,294 2,334 2,371 2,373 2,389 Government 24 22 18 20 31 23 Foreign bank _ .. 10 10 7 6 6 6 Other deposits _ 19 18 30 21 20 21 Total deposits 2,320 2,343 2,389 2,419 2,429 2,440 Deferred availability items,. _. -_._ .._ 573 546 615 656 665 660 Capital paid in 143 145 146 146 147 147 Surplus _ 233 233 233 233 233 254 All other liabilities - 21 25 29 34 39 13 Total liabilities _ 4,905 4,978 5,130 5,198 5,305 5,352 Contingent liability on bills purchased for foreign correspondents 306 278 265 251 263 325 1 Uncollected items (exclusive of Federal reserve notes of other Federal reserve banks) in excess of deferred availibility items. 2 Less than $500,000. Back figures—See Annual Report for 1927 (Table 7), 1926 (Table 11), 1925 (Table 11), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
68 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 8.—CONDITION OF EACH FEDERAL RESERVE BANK AT THE END OF 1927 AND 1928 [In thousands of dollars] Boston New York Philadelphia 1928 1928 1927 1928 RESOURCES Total gold reserves 194. 437 171,951 868, 601 716, 698 143, 894 179,131 Reserves other than gold 14,477 17,756 I 24, 599 22, 040 6,066 6,453 Total reserves.. 208, 914 189, 707 893, 200 738,738 149,960 185, 584 Nonreserve cash 9,860 11,538 20, 924 23,449 I 1,490 1,486 Bills discounted 28,598 69,244 281, 338 463, 980 67, 371 84, 314 Bills bought 48,410 I 54,619 97, 652 152,414 44, 523 16, 234 United States securities. 33, 358 ! 8,173181, 480 49, 377 45, 664 21, 447 Total bills and securities _ 110, 366 132, 036 560,470 665, 771 157, 558 121, 995 Due from foreign banks 37 55 213 205 47 69 Uncollected items 69,175 70,990 193, 847 195,086 63, 738 60, 242 Bank premises 3,824 3,702 15, 882 16,087 1,749 1,752 All other resources 79 5,892 786 213 199 Total resources 402, 255 408,104 1, 690,428 1, 640,122 374, 755 371, 327 LIABILITIES r^ Federal reserve notes in circulation 149, 631 161, 292 390,343 354,183 137, 552 142, 949 Deposits: Member bank—reserve account 158, 024 146,177 1, 009, 923 970, 895 143, 833 133, 515 Government 1,642 1,103 1,565 8,497 1,242 985 Foreign bank 347 488 1,302 1,104 444 618 Other deposits 305 80 11,460 8,281 257 70 Total deposits 160, 318 147, 848 1, 024, 250 988, 777 145, 776 135,188 Deferred availability items.. 64, 792 68, 752 170, 613 172, 070 56, 309 54, 342 Capital paid in 9,412 10,156 40, 310 50,124 13, 237 14, 536 Surplus 17, 893 19,619 63,007 71, 282 21, 662 24,101 All other liabilities 209 437 1,905 3,686 219 211 Total liabilities. 402, 255 408,104 1, 690,428 1, 640,122 374, 755 371, 327 Cleveland Richmond Atlanta 1927 1928 1928 1927 1928 RESOURCES Total gold reserves 265, 440 238, 839 65, 227 82,369 167,329 118,346 Reserves other than gold 13, 013 11, 686 7,945 7,729 j 11,946 9,363 Total reserves.. 278, 453 250, 525 73.172 90,098 ] 79, 275 127,709 Nonreserve cash 7,560 6,504 7,287 4,371 ] 4,178 Bills discounted 60, 845 92 702 25, 424 38, 561 28, 203 41, 020 Bills bought 20, 175 52, 377 48, 837 24, 369 2,238 32, 002 United States securities. 61, 510 32,9o2 12,452 3,427 13, 585 7, 255 Other securities 260 Total bills and securities. 142, 530 178,041 86, 713 66,357 44, 286 80, 277 Due from foreign banks 52 76 25 37 20 31 Uncollected items 67, 868 67,068 54, 660 54, 027 26, 545 22, 455 Bank premises 6,865 6, 535 2,721 3, 575 2,823 2,744 All other resources 1, 265 1,038 367 693 1,341 1,488 Total resources.._ 504, 593 509,787 224,656 222,074 j 258,661 238, g LIABILITIES Federal reserve notes in circulation.. 216, 595 216, 890 I 77, 405 86, 339 144, 097 134, 966 Deposits: Member bank—reserve account. 182, 380 182,774 73, 715 64, 705 73, 243 63, 385 Government 1,340 1,216 i 1,022 1,432 1,532 1,944 Foreign bank 491 676 ! 241 332 190 273 Other deposits 1,296 832 217 114 170 140 Total deposits j 185,507 185,498 75,195 66, 583 75,135 65, 742 Deferred availability items 63, 509 65, 383 52, 728 49, 722 23, 981 21, 361 Capital paid in | 13,979 14, 419 6,252 6,154 5,175 5, 231 Surplus i 24,021 26, 345 12,324 12, 399 9, 996 10, 554 All other liabilities 982 1,252 752 877 277 1,028 Total liabilities 504,593 509,787 224,656 j 222,074 | 258,661 238,882 Back figures.See Annual Report for 1927 (Table 8), 1926 (Part II, Table 1), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
69 RESERVE BAJNK CREDIT §#—CONDITION OF EACH FEDERAL RESERVE BANK AT THE END OF 1927 AND 1928—Continued [In thousands of dollars] Chicago St. Louis Minneapolis 1927 1928 1927 1928 1927 1928 RESOURCES Total gold reserves 411,186 463,910 73,452 77,926 73,034 85.650 Reserves other than gold. 16,831 11, 765 12,898 15, 422 4,029 2,510 Total reserves 428, 017 475, 675 86,350 93, 348 77,063 88,160 9,362 10, 781 4, 251 3, 573 1,223 1,393 Nonreserve cash.__ Bills discounted 52, 670 146, 519 19, 417 35, 539 1,905 4, 495 Bills bought _ 62, 295 39,078 5,046 11,335 18,319 21,820 United States securities 35, 850 38,163 21, 043 23, 900 10, 907 Other securities 1,635 Total bills and securities 204, 963 221, 447 62, 626 67, 917 44, 744 38, 857 Due from foreign banks 67 101 21 31 15 20 Uncollected items 88, 620 89, 931 40, 038 28, 783 15,162 15, 830 Bank premises _-. 8,609 8,527 3,791 3,812 2,202 2,110 All other resources, _. 1,308 748 723 433 1,776 822 Total resources.. 740, 946 807, 210 197, 800 197, 897 142,185 147,192 LIABILITIES Federal reserve notes in circulation-. 265, 293 323, 590 56, 666 64,463 61, 224 65, 274 Deposits: Member bank—reserve account. 345, 676 343,099 83, 560 54, 836 56, 067 Government 2,518 1,068 1,062 1,119 1,874 1,336 Foreign bank__ 639 904 199 280 139 176 Other deposits 1,108 2,101 419 596 274 332 Total deposits. 349, 941 347,172 91, 542 85, 555 57,123 57, 911 Deferred availability items 73,124 79,336 33, 286 30, 583 13, 010 13, 079 Capital paid in I7, 965 18, 478 5, 341 5,408 3,009 3,009 Surplus _.. b2, 778 36, 442 10, 397 10, 820 7,039 7,082 All other liabilities 1,845 2,192 1,068 837 Total liabilities 740, 946 807, 210 197, 800 197,? 142,185 147,192 Kansas City Dallas San Francisco 1927 1928 1927 1928 1927 1928 Total gold reserves 98,033 118, 664 59, 812 71,067 312,742 259, 681 Reserves other than gold. 5,826 5,766 9,391 5,537 6, 943 8,581 Total reserves 103, 859 124,430 69, 203 76, 604 319, 685 268, 262 Nonreserve cash 3,060 2,418 3,189 3llO 4,457 3,868 Bills discounted— 9,634 31,143 878 11,161 5,220 37, 788 Bills bought 7, 891 96 22, 811 25, 420 13, 842 59, 306 United States securities. 38, 342 10, 513 31, 989 10, 008 46, 075 17,102 Other securities 1,500 6,500 250 Total bills and securities. 55, 867 43, 252 55,678 53,089 65,137 114, 446 Due from foreign banks ___ 18 26 17 25 34 52 Uncollected items 46, 471 38, 765 29, 964 27, 587 41,484 41,910 Bank premises 4,308 4,140 1,785 1,920 3,374 3,687 All other resources 415 245 502 427 800 385 Total resources 213, 998 213,276 160,338 163, 062 434, 971 432, 610 LIABILITIES Federal reserve notes in circulation.. 67,189 70, 663 47,472 48, 585 176, 400 169,000 Deposits: Member bank—reserve account. 95, 046 89, 991 70, 970 71, 017 189,269 183, 779 Government 2,082 1,661 774 1,111 1,704 2,000 Foreign bank 171 234 162 228 324 462 Other deposits 570 313 104 92 4,677 8,524 Total deposits 97,869 92,199 72,010 72,448 195,974 194,765 Deferred availability items 35, 284 36, 580 27, 798 28, 654 36, 598 39,638 Capital paid in 4,235 4,224 4,264 4,329 9,302 10,868 Surplus 9,046 9,086 8, 527 8,690 16, 629 17,978 All other liabilities 375 524 267 356 68 361 Total liabilities 213,998 213, 276 160, 338 163, 062 434,971 432,610 Back figures.—See Annual Report for 1927 (Table 8), 1926 (Part II, Table 1), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
70 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 9.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RE- SERVE BANKS, BY MONTHS, 1914-1928 Month 1914 1915 1916 1917 1918 1919 1920 January... 398 614 309 1,432 3,316 3,461 February.. 469 451 262 1,353 3,091 3,338 March 570 535 315 1,568 3,575 3,670 April 606 606 384 2,100 3,875 4,175 May.... 655 590 2,793 4,035 4,642 June 813 678 900 3,021 4,047 4,948 July.... 760 642 960 3,462 3,685 4,858 August. 711 483 990 3,671 3,460 4,780 September.. 761 448 953 3,464 3,722 4,758 October 794 383 1,140 3,610 3,839 4,952 November.. 132 835 336 1,574 3,667 3,649 5,275 December.. 339 754 314 1,701 3,288 3,659 5, 551 Year.. 1,920 1,788 3,127 5,493 1 5,993 6,941 Month 1921 1922 1923 1924 1925 1926 1927 1928 January... 5,293 5,350 3,294 2,554 2,838 2,825 2,256 February.. 5,107 4,847 2,976 3,465 2,415 2,659 2,566 2,104 March 5,320 4,701 3,282 3, 516 2,731 3,045 2,717 2,405 April 5,568 4,738 3,507 3,744 3,016 3,155 2,707 2,522 May 5,632 4,636 3,942 3,795 3,209 3,282 2,858 2,742 June.. 5,745 4,436 3,999 3,706 3,289 3,458 2,834 2,957 July 5,607 4,167 4,110 3,432 3,207 3,190 2,927 August 5,453 4,042 3,960 3,052 2,979 3,016 2,511 2,797 September. 5,427 3,944 3,600 2,786 2,729 2,879 2,361 2,562 October 5,572 3,793 3, 752 2,663 2,796 2,856 2,377 2,663 5,622 3,859 3,732 2,573 2,876 2,871 2,350 2,639 November. 5,676 3,873 3,698 2,783 3,021 3,024 2,345 2,801 December- Year 7,415 6,956 6,333 6,060 5,183 5,343 4,718 No. 10.—AVERAGE MATURITY OF BILLS DISCOUNTED AND BILLS BOUGHT BY FEDERAL RESERVE BANKS, BY YEARS, 1918-1928 [Days] Bills discounted Bills Year M b e a m n b k er Redis- bou o g p h en t in Total collateral counted market notes bills 1918 11.81 1919 10.13 50.45 1920 13.29 43.83 1921__ 13.63 28.53 1922 12.14 39.91 1923 9.89 39.42 1924 12.39 35.33 1925.. . . 7.99 39.41 1926 8.04 5.48 54.28 1 51.17 1927 7.58 5.58 52.97 1 41. 51 1928 6.78 5.37 54.42 1 55.13 1 Exclusive of bills purchased under resale agreement. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 71 No. 11.—BILLS DISCOUNTED BY FEDERAL RESERVE BANKS—HOLDINGS AT THE END OF EACH MONTH, BY CLASSES In thousands of dollars] Member bank Rediscounted bills collateral notes Month (all T c o la ta ss l es) a m n p g C t . a a e u r o p e n r i r c c m . e d a u i r l s a - , l . l - D d e s a r i m a g n f d h a t t s nd B a a a c n n c c k e e p e s t r - s' a T a c n r c a c e d e p s e t- b S G o y m e t b o i c l o v U e u i n g e n r . s r a e t S n - d - . b S G o y m e t b o i c l o U e v i u g n n e r . a s e r t S - n d - . s O e w c th u is e r e e r d - 1928 January 423,310 88, 585 277 1,239 162 297,821 35,226 February 492, 568 114,359 229 1,293 317 306,091 70,279 March 598,681 145, 540 57 1,224 338 363,439 88,083 April 834,228 159,352 213 1,038 316 588, 731 84, 503 May 1,021, 352 207, 940 72 1,565 442 708, 202 103,046 June 1,095,423 215, 636 94 1,283 2,287 747, 577 128, 538 July 1, 242,222 58 10 1,236 2,326 620, 008 165,120 August 1,107, 512 252, 692 56 1,833 2,914 661, 538 188,471 September 1,070,759 213,332 1,350 1,679 2,476 663,982 187,940 October___ 932, 271 214, 713 1,265 1,862 2,391 559, 705 152, 332 November 1,087, 840 214, 586 528 1,649 2,375 733, 371 135,323 December 1, 056,466 214, 703 283 1,644 974 658,242 180, 573 NOTE.—Figures include bills discounted for Federal intermediate credit banks as follows: January , $723,000; February, $57,000; March, $252,000; April, $572,000; May, $107,000; June, $412,000; July, $962,000; August, $2,826,000; September, $6,136,000; October, $11,700,000; November, $11,872,000; December, $12,641,- 000. Figures also include notes secured by adjusted service certificates discounted for nonmember banks as follows: January, $33,000; February, $57,000; March, $77,000; April, $79,000; May, $88,000; June, $107,000, July, $112,000; August, $114,000; September, $113,000; October, $88,000; November, $67,000; December, $86,000. Back figures—See Annual Report for 1927 (Table 11), 1926 (Table 19), etc. No. 12.—BILLS BOUGHT BY FEDERAL RESERVE BANKS—HOLDINGS AT THE END OF EACH MONTH, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances Bills Trade pay- Month Total on s B t g o a o s re e o d d ds Dollar a a c n c c e e p s t- c f a o u b r r l e r e i e g i n n n - Total Import Export m D e o st - ic sh i i n p p o e r d ch e a x n - ge o A th l e l r cies between foreign countries 1928 January 378, 669 377,105 93,769 97,045 81,323 93, 305 6,100 5,563 845 719 February__ 343, 759 342, 202 89,722 82, 219 64, 809 92,054 6,666 6,732 523 1,034 March 350,180 347, 888 95,548 82, 210 63,671 96,312 5, 663 4,484 595 1,697 April 356,946 355,172 91, 613 85,015 58,527 105,834 3,427 10, 756 629 1,145 May 291,616 290, 690 77, 435 69, 348 45,760 3,263 5,035 512 414 June 216,865 216, 248 63,062 55, 988 37, 235 53,230 2,800 3,933 359 258 July 162,021 161, 527 54, 288 38,438 29, 583 34, 601 1,987 2,630 236 258 August __ _. 191,667 190,862 65, 272 45, 258 27,442 48,394 2,097 2,399 546 259 September- 283, 650 283,014 77, 501 76, 926 40,310 79, 015 4,662 4,600 374 262 October 440, 376 438,873 106, 558 120,772 76,142 121,132 8,791 5,478 496 1,007 November. 486,174 484, 763 116,796 132, 372 84, 883 134,271 9,747 6,694 395 1,016 December., 489,069 487, 515 108,431 131, 386 90, 664 143,123 8,707 5,204 537 1,017 Back figures.—See Annual Report for 1927 (Table 12), 1926 (Table 24), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
72 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 13.—HOLDINGS OF BILLS DISCOUNTED AND BILLS BOUGHT BY FEDERAL RESERVE BANKS, BY MATURITIES, 1927-28 [In thousands of dollars] Maturity Date Total W 15 i d th a i y n s 16 d a to y s 30 31 d a to y s 60 61 d a to y s 90 m 91 t o o d n a 6 th y s s m O o v n e t r h 6 s Bills discounted: 1927—Jan. 26.. 365,157 266, 642 25, 299 41,069 22, 479 8,479 1,189 Feb. 23._ 397,929 309, 200 26,246 35,922 17,628 2,027 Mar. 30- 456,023 364,820 22,153 36, 630 21, 380 7,' 3,074 Apr. 27.. 443, 553 351, 538 21, 037 36, 778 21, 561 10,660 1,979 May 25 428,620 329,889 24,429 36, 602 20, 797 15.840 1,063 June 29 477,311 372,875 24,913 36,849 23, 502 18, 916 256 July 27... I 398,130 297,756 21, 223 37, 583 29, 753 11, 698 117 Aug. 31 400,524 307,428 21, 396 42,029 23, 740 5,805 126 Sept. 28... 430,312 354,775 22,886 31,560 17, 739 3,203 149 Oct. 26_... 402, 398 330,843 17,524 31,467 17, 276 5,044 244 Nov. 30... 477,025 412,153 19,893 27,224 10,912 5,839 1,004 Dec. 28.... 609,209 537,482 18, 330 26,892 18,617 6,423 1,465 1928—Jan. 25._ 385,224 318,991 14,912 26, 751 17,352 6,091 1,127 Feb. 29.. 492, 568 420. 680 17, 933 29,469 18,156 4,215 2,115 Mar. 28. 524,096 442,928 18,829 32,801 20, 294 5,698 3,546 Apr. 25.. 709,073 585,962 26,741 50, 317 31,899 11,857 2,297 May 29 _ 943,791 35,865 53, 093 28, 907 18,428 June 27... I 1,031,874 892,122 36,139 48,934 35,368 19,071 240 July 25. 1,025,109 844, 643 38,675 71,495 57,393 12,834 69 Aug. 29 1,038,773 854,964 53,014 83,138 37,542 434 Sept. 26. 1,010,766 863,522 44,257 57,729 37.780 7,185 Oct. 31.. 932,271 770,441 42,312 66, 556 35,014 17,096 852 Nov. 28., 990,240 855,540 36,200 47,981 29,979 19,467 1,073 Dec. 26.. 1,167,579 1,012, 581 38,749 59,509 38, 616 16,993 1,131 Bills bought: 1927—Jan. 26— 301,827 123,999 72,313 81, 778 17,618 6,119 Feb. 23.. 280,189 140,345 61,531 51,939 23,234 3,140 Mar. 30.. 237,409 115,041 53,777 53.125 13, 242 2,224 Apr. 27.. 241,899 121,147 68,003 38,412 10,815 3,522 May 25.. 236,170 132,322 58, 539 32,390 10.016 2,903 June 29__ 216,118 91,041 50, 539 46,176 22,064 6,298 July 27. _ 169,385 76,112 45,906 31,743 12,697 2,927 Aug. 31.. 185,128 107,871 29,169 27,835 17,486 2,767 Sept. 28. 242,148 111,362 46, 948 60, 278 19,107 4,453 Oct. 26.. 301, 111 125,700 66,361 59,583 45, 566 3,901 Nov. 30. 354,740 137, 746 71,372 108,980 34,501 2,141 Dec. 28.. 385, 527 172,348 110, 201 78,434 23.207 1,337 1928-Jan. 25.. 347,305 122, 510 73,182 74,684 73,660 3,269 Feb. 29.. 343, 759 111,382 92, 357 107,092 29,762 3,166 Mar. 28. 346,103 167,981 77, 976 35,457 5,901 Apr. 25_. 365.841 120, 797 83,644 82,147 10, 447 May 29.. 303,988 97, 597 73,-528 95,842 30, 204 6,817 June 27.. 223,432 103,443 47, 389 42, 764 23, 651 6,185 July 25.. 169,083 57,426 36,340 44, 314 25,410 5,593 Aug. 29.. 184,299 80,174 36,280 41,153 20,965 5,727 Sept. 26. 263,419 97,048 35,435 43,168 81,424 6,344 Oct. 31.. 440,376 131,511 52,332 139,843 111, 296 5,394 Nov. 28. 482,343 139, 415 91, 570 154, 218 93,194 3,946 Dec. 26- 489, 270 166,325 93,021 131, 901 93, 531 4,492 Back figures.- See Annual Report for 1927 (Table 13), 1925 (Tables 20 and 25), 1924 (Tables 21 and 30), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 73 No. 14.—HOLDINGS OP UNITED STATES SECURITIES BY FEDERAL RESERVE BANKS, AT END OF EACH YEAR, 1924-1928, BY CLASSES [Par value. In thousands of dollars] 1924 1925 1926 1927 1928 TOTAL HOLDINGS Bonds: 2 per cent consols of 1930 915 915 915 915 915 2 per cent Panamas, 1936-1938 237 237 237 237 237 3 per cent conversion bonds of 1946-47 1 2,046 1 2,046 1 2,046 * 2,046 1 1, 796 3H per cent Liberty loan — 96 49 10 51 Qi per cent Liberty loan 1 51, 278 J 37,994 3 278,698 2 40, 524 3% per cent Treasury bonds of 1940-1943.. 842 3% per cent Treasury bonds of 1947 2,622 2,784 4K per cent Treasury bonds of 1947-1952.. 153 172 148 148 156 4 per cent Treasury bonds of 1944-1954 5,747 6,082 i, 278 6,019 6,119 Z% per cent Treasury bonds of 1946-1956.. 296 10 460 Total bonds 75, 266 60, 826 47,963 290, 705 53,884 Treasury notes.__ _ 349, 355 187,063 87, 360 69,113 105, 963 Certificates of indebtedness. 115,539 126, 684 179,497 256,698 68, 217 Total United States securities . 540,160 374, 573 314,820 616,516 228,064 BOUGHT OUTRIGHT In special investment account: 4H per cent Liberty loan. 30,100 2,500 30 188,181 Treasury notes 318, 501 164,690 41, 297 30, 300 35, 301 Certificates of indebtedness 100, 434 92,810 170,976 204,678 40,291 Total in special investment account- 449,035 260,000 212, 303 423,159 75,592 In other accounts: Bonds— 2 per cent consols of 1930 915 915 915 915 915 2 per cent Panamas of 1936-1938 237 237 237 237 237 3 per cent conversion bonds of 1946-47 i 2,046 i 2,046 12,046 1 2, 046 11,796 ZlA per cent Liberty loan 69 96 49 10 51 4M per cent Liberty loan 34,999 2 46,878 2 36,729 2 75,403 2 39,713 V/% per cent Treasury bonds of 1940-1943 63 2>Ys per cent Treasury bonds of 1947 2,622 2,634 4^4 per cent Treasury bonds of 1947-1952 143 172 148 148 156 4 per cent Treasury bonds of 1944-1954 5,702 6,082 6,278 6,019 6,019 3M per cent Treasury bonds of 1946-1956 10 10 Total bonds _ 44, 111 56,426 87,410 51, 594 Treasury notes 28,184 17,630 45, 211 21, 913 60,482 Certificates of indebtedness- 14,795 32, 025 7,446 27, 475 9,465 Total in other accounts.. 87, 090 106,081 99, 355 136,798 121, 541 Total bought outright__. 536,125 366,081 311,658 559,957 197,133 BOUGHT UNDER RESALE AGREEMENT Bonds: 434 per cent Liberty loan 1,000 1,900 1,235 15,114 811 3% per cent Treasury bonds of 1940-1943... 779 3% per cent Treasury bonds of 1947 150 A}4 per cent Treasury bonds of 1947-1952... 4 per cent Treasury bonds of 1944-1954 100 3% per cent Treasury bonds of 1946-1956... 450 Total bonds 1,055 1,900 1,235 15,114 2,290 Treasury notes 2,670 4,743 852 16, 900 10,180 Certificates of indebtedness.. 310 1,849 1,075 24, 545 18,461 Total bought under resale agreement. 4,035 8,492 3,162 56, 559 30, 931 i Includes $900, 3 per cent loan of 1961, 1924-1925, and $500, 1926-1927-1928. »Includes 4 per cent Liberty bonds as follows: 1925, $50; 1926, $3,700; 1927, $2,650; 1928, $1,250. Back figures.—See Annual Report for 1925 (Table 27). 41223—29 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
74 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 15.—HOLDINGS BY FEDERAL RESERVE BANKS OF UNITED STATES SECURITIES IN SPECIAL INVESTMENT ACCOUNT, 1923-1928 [In thousands of dollars. Monthly data are averages of daily figures] Month or Hold- Month or Hold- Month or Hold- Month or Hold- Month or Holddate ings date ings date ings date ings date ings 1924 1925 1926 1927 1928 Jan.i 34,664 Jan 370,289 Jan 257,524 Jan 202,147 Jan 366,708 Feb 59,586 Feb 290,893 Feb 228,173 Feb 200,036 Feb 275,466 Mar 148,517 Mar 255,711 Mar 202,846 Mar 195,420 Mar 258, 531 Apr 195,430 Apr 247,918 Apr 257,773 Apr 200,911 Apr 216, 680 May 247,392 May 250,042 May 275,000 May 170,821 May 121,653 June 340,640 June 231, 654 June 277,474 June 263, 225 June 84,213 July 400,196 July 216,409 July 265,548 July 258,999 July 84,875 Aug 471, 528 Aug 215,296 Aug 255, 637 Aug 316, 882 Aug 80,085 Sept 495, 712 Sept 212, 396 Sept 204, 262 Sept 358,637 Sept 89, 834 Oct 500,000 Oct 210, 000 Oct 199, 758 Oct 376,089 Oct 76, 617 Nov 498, 550 Nov 210,000 Nov 200,067 |Nov 412,125 Nov 79,861 Dec 445, 515 Dec 218,955 Dec 203,367 Dec 421,859 Dec 77,067 Jan. 2i... 12,773 Jan. 7... 408, 035 Jan.6 260,000 Jan.5— 200,000 Jan. 4.... 423,159 J J a a n n . . 9 16.... 2 3 4 4 6 3 , , , 6 6 8 9 8 0 5 6 2 J J J a a a n n n . . . 2 H 2 8 1 . . . - . . 3 3 30 8 3 4 8 5 , , , 1 3 2 2 7 7 6 6 6 J J J a a a n n n . . . 1 2 2 3 0 7 — — ... 2 2 2 6 6 5 0 0 5 , , , 0 0 8 0 0 5 0 0 0 J J J a a a n n n . . . 2 1 1 6 9 2 . . . . . . . . . 2 2 2 0 0 0 0 0 0 , , , 0 0 0 0 0 0 0 0 0 J J J a a a n n n . . . 2 1 1 8 5 1 - . . . - . . . . 3 3 3 9 6 0 9 8 9 , , , 0 5 0 3 8 1 1 0 9 Jan. 23.— Jan. 30.... 47, 635 Feb. 4... 300,000 Feb. 3— 236,850 Feb. 2.... 200,000 Feb. I.... 292, 394 Feb. 6— 51,547 Feb. 11- 300,000 Feb. 10— 221,850 Feb. 9.... 200,000 Feb. 8—. 273,194 Feb. 13— 51, 547 Feb. 18.. 290,000 Feb. 17— 220,000 Feb. 16... 200,000 Feb. 15... 273,194 Feb. 20— 68, 757 Feb. 25.. 270, 000 Feb. 24... 210,000 Feb. 23... 200,000 Feb. 21... 273,194 Feb. 27— 83,891 Feb. 29-. 273,194 Mar. 4_- 270,000 Mar. 3— 210,000 Mar. 2... 200,000 Mar. 5 107, 772 Mar. 11. 275,350 Mar. 10- 244,906 Mar. 9... 200,000 Mar. 7.-. 273,194 Mar. 12... 140, 265 Mar. 18. 234,804 Mar. 17.. Mar. 16.. 176,324 Mar. 14.. 269,446 Mar. 19... 164, 215 Mar. 25- 245, 204 Mar. 24.. 189,339 Mar. 23.. 201,179 Mar. 21.. 258, 270 Mar. 26— 179, 793 Mar. 31— 217,150 Mar. 30.. 201,324 Mar. 28.. 258,494 Apr. 1— 245, 204 Apr. 2— 187,293 Apr. 8— 245, 204 Apr. 7—. 230,000 Apr. 6— 201,344 Apr. 4... 256,038 Apr. 9— 187,886 Apr. 15- 250,042 Apr. 14... 263, 650 Apr. 13- 201,344 Apr. 11- 247,808 Apr. 16— 190,886 Apr. 22.. 250,042 Apr. 21... 275,000 Apr. 20- 201, 344 Apr. 18- 199, 968 Apr. 23... 198,386 Apr. 29.. 250,042 Apr. 28... 275,000 Apr. 27- 201,344 Apr. 25- 170,078 Apr. 30— 224,487 May6-_ 250,042 May 5__: 275, 000 May4__ 199, 794 May 2__ 157,158 May7— 235,700 May 13 _ 250,042 May 12_. 275,000 May 11_. 136, 312 May 9__ 140, 508 May 14... 247,443 May 20_ 250,042 May 19_. 275,000 May 18-. 152,112 May 16 _. 124,958 May 21.-. 247, 593 May 27. 250,042 May26_. 275,000 May25_. 188,477 May 23_. 100,000 May 28— 258,093 May 29_. 81,690 June 3— 250,042 June 2—.. 282, 500 June 1... 222.447 June4 321,043 June 10.. 255,042 June 9 295,000 June 8-— 316,050 June 6—. 84, 590 June 11— June 17_. 201, 409 June 16... 238,700 June 15— 244, 256 June 13- 83,410 June 18... 359,414 June 24.. 221,409 June 23... 275,000 June 22.. 250.448 June 20- 83,738 June 25— 362,831 June 30... 275,000 June 29- 250,498 June 27__ 84,488 July 1— 216,409 July 2-.-. 370,731 July 8— 216,409 j July 7.... 273, 250 July 6— 250,498 July 3— 84,488 July 9..-. 385,931 July 15... 216,409 July 14... 275, 000 July 13- 250,998 July 11.. 84,988 July 16... 400,000 July 22-. 216,409 July 21... 275,000 July 20- 265, 214 July 18- 84,988 July 23... 400,000 July 29... 216, 409 July 28... 275,000 July 27- 265,998 July 25- July 30... 400,000 Aug. 5__. 216, 409 Aug. 4__. 275,000 Aug. 3_. 286,498 Aug. 1-- 84,988 Aug. 6 456,255 Aug. 12_. 214, 409 Aug. 11_. 270,200 Aug. 10. 299,393 Aug. 8_ _ 75,488 Aug. 13... 473,105 Aug. 19_. 214, 759 Aug. 18.. 262,863 Aug. 17 _ 317,956 Aug. 15_ 75,488 Aug. 20... 473,105 Aug. 26_. 215,134 Aug. 25_. 223,438 Aug. 24_ 326,031 Aug. 22_ 75,488 Aug. 27... 473,105 Aug. 31- 353,467 Aug. 29 _ 92,113 Sept. 2...215,134 Sept. 1- 219,975 Sept. 3.... 473,105 Sept. 9...215,134 Sept. 8- 209,975 Sept. 7.. 374,407 Sept. 5... 92,113 Sept. 10... 497,670 Sept. 16..210,000 Sept. 15. 200,000 Sept. 14. 355,007 Sept. 12.. 92,113 Sept. 17... 510, 768 Sept. 23..210,000 Sept. 22. 200,000 Sept. 21. 362, 820 Sept. 19.. 92,113 Sept. 24... 500,000 Sept. 30..210,000 Sept. 29. 191,000 Sept. 28. 362,850 Sept. 26.. 80,488 Oct. 1--.. 500,000 Oct. 7... 210,000 Oct. 6._. 200,000 Oct. 5-. 374,490 Oct. 3.-. 80,488 Oct. 8 500,000 Oct. 14- 210,000 Oct. 13-. 200,000 Oct. 12.. 374, 890 Oct. 10... 75,488 Oct. 15__. 500,000 Oct. 21- 210,000 Oct. 20-. 200,000 Oct. 19.. 374,890 Oct. 17... 75,488 Oct. 22__. 500,000 Oct. 28- 210,000 Oct. 27_..I 200,000 Oct. 26.. 386,710 Oct. 24... 75,488 Oct. 29. _. 500,000 Oct. 31— 75,488 N N N N o o o o v v v v . . . . 1 1 2 5 2 6 . 9 . - . — . . . 4 5 5 5 9 0 0 0 5 0 0 0 , , , , 0 0 0 0 0 0 0 0 0 0 0 0 N N N N o o o o v v v v . . . . 2 1 1 4 5 8 0 - . . . . 2 2 2 2 1 1 1 1 0 0 0 0 , , , , 0 0 0 0 0 0 0 0 0 0 0 0 N N N N o o o o v v v v . . . . 2 1 1 3 4 0 7 . . . . . 2 2 2 1 0 0 0 9 0 0 0 9 , , , , 4 0 0 0 8 0 0 0 1 0 0 0l] N N N N o o o o N v v v v o . . . . v . 3 2 2 1 0 . 3 6 9 . . . . .. 4 4 4 4 4 0 0 1 1 1 2 9 5 5 9 , , , , , 8 9 7 2 8 2 3 7 4 2 4 4 0 2 4 N N N N o o o o v v v v . . . . 1 2 2 7 4 1 . 8 . - . . . . . . 7 8 7 5 3 5 , , , 4 4 4 8 8 8 8 8 8 Dec. 3___ 485,000 Dec. 2— 210.000 Dec. 1—-I 199,299 Dec. 10.- 412,600 Dec. 9— 210,000 Dec. 8... 209,178 Dec. 7... 419,934 Dec. 5— 75,488 Dec. 17.. 436,440 Dec. 16- 180,000 Dec. 15- 190, 564 Dec. 14.. 426,772 Dec. 12.. 81,387 Dec. 24-. 449,035 Dec. 23- 228, 750 Dec. 22.. 206,064 Dec. 21. 423,159 Dec. 19- 75, 592 Dec. 31.. 449,035 Dec. 30.. 259, 700 Dec. 29.. 206,064 Dec. 28.. 423,159 Dec. 26.. 75, 592 i Account dates from Dec. 15, 1923; holdings on Dec. 19, 3,500,000; on Dec. 26, $6,800,000; average daily Digitized forh oFlRdiAngSs EDRec . 15-31 (corrected), $5,385,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RESERVE BANK CREDIT 75 No. 16.—HOLDINGS BY FEDERAL RESERVE BANKS OF TEMPORARY ONE-DAY CERTIFICATES OF INDEBTEDNESS ISSUED BY THE UNITED STATES TREASURY, 1923-1928 [In thousands of dollars] Date 1923 1924 1925 1926 1927 1928 Jan. 2 57,000 Jan 3 88,000 Jan. 4 128, 500 Jan.5 91,500 i 117,000 Jan 8 156, 500 Jan 9 100,000 Jan.10 . 131, 500 Jan 11 109,500 Jan.12 139,000 Jan. 13 and 14 1 150,500 Jan.15 134,500 Jan.16 69,500 Jan 17 73,000 Jan.18 14,000 Jan. 19 7,000 Jan 20 and 21 1 7,000 Jan 22 19,000 Mar 15 86,000 i 184,000 209,000 251,500 201,000 Mar. 16 . 23,000 i 184,000 182,000 157,000 177, 500 208,000 Mar 17 108, 500 122, 500 99,000 176,000 1 155,000 Mar. 18 87,000 100,500 38,000 79, 000 i 155,000 Mar 19 58,000 58, 500 i 48,000 75,000 Mar. 20 14,000 34, 500 i 48,000 13,000 Mar 21 i 2,000 16, 000 Mar. 22 12,000 9,000 Mar 23 3,000 May 23 5,000 May 24 . 31,000 May 28 7,000 June 8 _. __ 4,000 June 9 4,000 June 10 4,000 June 15 _ 115, 500 108,000 246,000 185,000 192, 500 June 16 1 29,000 66, 000 42, 500 141, 500 44, 500 i 82,000 June 17 . 1 29, 000 20, 000 8,000 77,000 15, 500 i 82,000 June 18 23,000 *6,500 5,000 June 19 i 6, 500 June 20 19,000 June 21 4,000 July 9 . 3,000 Sept 15 1 90, 500 118, 000 177,500 192,000 196, 500 i 158,000 Sept. 16 1 90, 500 62,000 94,000 72, 500 91, 500 1 158,000 Sept. ]7 6,000 35,000 41,000 7,000 i 54,000 31,000 Sept. 18 5,000 i 54,000 47, 000 Sept 22 and 23 1 4,000 Oct. 18 6,000 Nov. 15 89, 500 Nov 16 164, 500 Nov. 17 214, 500 Nov. 18 134, 500 Nov 19 and 20 i 156, 500 Nov 21 45, 500 Nov. 22 62,000 Nov 23 and 24 i 80, 500 Nov 25 20, 500 Nov 26 and 27 . i 27,000 Nov 28 38,000 Nov 30 2,000 Dec 1 4,000 Dec 2 15,000 Dec. 3 and 4 i 27,000 Dec. 5 . .. 38,000 Dec 6 47,000 Dec. 7 50,000 Dec 8 54,000 Dec 9 58,000 Dec. 10 and ll._ i 57, 000 Dec 12 54,000 Dec. 13 - ... 50,000 Dec 14 40,000 Dec 15 i 130, 500 148,000 172,000 188,000 197, 500 i 316,000 Dec. 16 i 130, 500 75,000 91,000 70,000 106, 500 i 316,000 Dec 17 36,000 40,000 34,500 1 57,000 132,000 Dec. 18 19,000 i 57,000 183,000 Dec 19 10,000 77,500 Dec. 20 — 63,000 12-day certificates, account Sunday or holiday. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
76 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD VOLUME OF OPERATIONS OF FEDERAL RESERVE BANKS No. 17.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS, 1924-1928 [Number in thousands; amounts in thousands of dollars] 1924 1925 1926 1927 1928 NUMBER OF PIECES HANDLED Bills discounted: Applications 129 116 I 123 97 123 Notes discounted 583 475 | 506 371 443 Bills purchased in open market for own I account 143 201 232 254 251 Currency received and counted 838, 279 1, 947, 419 2, 099,605* 2,194, 608 2, 270, 555 C oin received and counted 186, 737 2, 329, 014 2, 590, 0572, 691,184 2, 929, 091 C hecks handled 742, 878 778,686 822,907 862, 275 887, 997 Collection items handled: United States Government coupons paid 50, 471 44,174 39, 678 37, 045 28, 765 All other 6,113 5,467 5,595 5,909 6,461 United States securities—issues, redemptions, and exchanges by fiscal agency J department 16, 097 7,116 | 4,691 7,201 6,682 Transfers cf funl- 1,503 1,566 ! 1,710 1,830 2,011 AMOUNTS HANDLED Bills discounted $15, 419,155 $32, 562, 620 >37, 682,137 $31,934,607 | $62,412,961 Bills purchased in open market for own account 2,172,142 2, 961,170 3, 353, 326 4,050,867 j 4,240,669 Currency received and counted 10, 777, 306 11,556,980 12, 584, 960 •12, 939, 578 13, 315, 551 Coin received and counted 293, 924 467, 732 609, 359 791, 049 888, 621 Checks handled 219, 832,179 258, 611, 276 272, 945,160 278, 399^ 627 301, 703, 814 Collection items handled: United States Government coupons paid 719, 784 680, 921 644, 273 553,703 543, 373 All other 5, 509, 093 6,116, 958 6, 219, 361 6, 710, 317 7, 414, 440 United States securities—issues, redemptions, and exchanges by fiscal agency department 6, 708, 272 5, 578, 995 4, 971, 442 10, 803, 043 9, 002, 383 Transfers of funds 98, 359, 028 109, 430, 683 120, 909, 439 136, 383, 899 148, 749, 027 Backf igures.—See Annual Reports for 1924 (p. 14) and 1923 (p. 41). * Revised. No. 18.—BILLS PURCHASED BY FEDERAL RESERVE BANKS DURING 1928, CLASSIFIED ACCORDING TO UNDERLYING COMMODITIES [In thousands of dollars] Based on— Goods stored in Commodity Total Domes- or in Imports Exports tic trans- transit actions between foreign countries Aut omobiles 23,817 23,817 Coffee 107,413 80, 741 1,022 4,214 21,436 Copper 49, 574 566 31, 785 272 16, 951 Cotton 566, 298 8,751 307, 936 192, 744 56, 867 Furs 14, 800 12,446 1,058 1,296 Grains 125, 946 890 66, 960 28, 851 29,245 Hides and skins 67, 224 45, 851 1,768 10, 780 8,825 Iron and steel _ __ _.. 51, ?82 2,289 888 274 47, 931 Lard and meats 19, 644 8,817 7,233 3,594 Lumber .- -- 19, 576 2,243 8,155 3,675 5,503 Raisins 6,695 1,444 5,251 Rubber and rubber products 51, 887 29, 649 1,067 18,415 2,756 Silk 79,505 76, 712 146 2,647 Sugar - - -- 184,340 47,467 567 16, 226 120,080 Tobacco 32,978 5,765 1,861 18, 069 7,283 Wood pulp - - - - 12, 691 6,897 119 5,675 Wool 49,989 21, 303 249 14,157 14, 280 All other and unclassified 536,883 134,875 93, 078 63, 586 245, 344 All commodities 12,000,642 476,445 550, 737 387,690 585, 770 Other bills purchased: Taken under repurchase agreement 2,182, 035 Dollar exchange bills 29,020 Unclassified 25, 374 Bills payable in foreign currencies. 3,598 Total bills purchased 4, 240, 669 Digitized for 1 F IRncAluSdEesR $ 3,744,000 of trade acceptances. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOLD FUND 77 GOLD SETTLEMENT FUND No. 19.—GOLD SETTLEMENT FUND—SUMMARY OF TRANSACTIONS THROUGH THE FUND, 1923-1928 [In millions of dollars] Daily settlements between Federal reserve banks Balance Interat begin- reserve With- Balance ning of bank drawals Deposits at end of period Federal transfers period Transit reserve clearing note clearing 1923. 554.4 89,614. 7 0) 1,039. 2 1,764.3 1, 781.1 571.1 1924. 571.1 97, 698. 3 C1) 919.6 1, 921>8 2, 030. 2 679.5 1925. 679.5 108, 289. 5 C1) 909.0 1, 779. 0 1, 788. 6 689.2 1926. 689.2 115, 455. 3 635.8 1, 043. 4 3, 029. 2 3, 005. 3 665.3 1927. 665. 3 123, 031. 5 673.2 1, 436. 7 3, 797. 3 3, 660. 3 528.2 1928. 528.2 132, 525. 2 658.4 1,172. 6 2, 855. 6 3, 014. 4 687.0 1928 January. _ 528.2 12, 002. 4 67.5 15.5 274.0 404.8 659.0 February. 659.0 9, 746. 8 46.2 19.5 186.3 279.8 752.5 March 752.5 11, 598. 0 51.5 201.4 355.2 293.6 691.0 April. 691.0 10, 950. 0 43.9 51.9 204.1 378. 3 865.1 May.. 865.1 10, 994. 9 48.1 22.2 240.9 164.5 788.7 June.. 788.7 11, 026. 7 53.6 210.2 325.0 221.1 July 684.8 10, 346. 3 51.8 33.5 228.6 222.2 678.3 August 678.3 9, 759. 4 60.5 28.2 136.2 194. 2 736.4 September- 736.4 10,155. 9 65.2 269.8 249. 5 193.7 680.5 October 680.5 12,160.9 66.1 94.6 167.2 195.9 709.2 November.. 709.2 11, 332. 5 53.2 31.8 174.4 254.9 789.6 December.. 789.6 12, 451. 3 51.0 194.0 314.1 211.5 687.0 1 Included in transit clearing. Back figures.—See Annual Report for 1927 (Table 66), 1926 (Table 61), etc. FEDERAL RESERVE AGENTS' GOLD FUND No. 20.—SUMMARY OF TRANSACTIONS THROUGH THE FEDERAL RESERVE AGENTS' FUND, 1923-1928 [In millions of dollars] b o B e f g a p i l n e a r n n i i c o n e d g With a d ls raw- 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 Ba p e l n e a d r n i c o o e d f at 1923 1, 681. 0 755.0 148.5 565.7 1,140. 0 1, 648. 9 1924 1, 648.9 626.0 149.5 1, 022. 8 1,158. 3 1, 307.9 1925 1,307. 9 559.8 126.0 975.6 1, 061. 7 960.2 1926... 960.2 568. 2 112.3 1, 799.4 2, 258. 5 963.4 1927 963.4 454.2 63.3 2, 458. 4 2, 914. 3 1, 028.3 1928 1, 028.3 473.6 70.5 1, 631.4 1, 768.1 761.9 1928 January 1, 028. 3 43.7 16.5 255.0 194.4 940.4 February 940.4 31.2 2.0 165.5 132.2 878.0 March... 878.0 52.3 1.0 192.2 202.6 837.1 April 837.1 46.6 274.0 147.1 663.6 May... 663.6 35.5 1.0 65.7 652.9 June. 652.9 23.8 2.0 86.0 702.8 July 702.8 50.5 12.0 104.7 119.5 679.2 August 679.2 32.3 11.0 76.1 74.1 655.8 September 655.8 32.5 8.0 52.6 189.8 768. 5 October 768.5 59.0 5.0 92.6 110.8 732.7 November 732.7 35.0 5.0 140.9 138.7 700.6 December 700.6 31.2 7.0 126. 2 211.6 761.9 Back figures.—See Annual Report for 1927 (Table 68), 1926 (Table 63), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
78 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MEMBERSHIP IN PAR COLLECTION SYSTEM JVo. 21.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, 1920-1928 [The figures for member banks, beginning with March, 1925, represent the number of banks in actual operation; prior to that time the number of banks shown by capital-stock records of Federal reserve banks] 1920 1 19211 1922 1923 1924 Non- Non- Non- Nonmember Nonmember End of 'month M ba b e n e m k r s - o b m n a b e n e p m k r a s r - M ba b e n e m k r s - o b m n a b e n e p m r k a s - r M b e e m r - o b m n a b e n p e m k r a s r - b M a b e n e m k r s - On p b ar a n N ks ot on b M a b e n e m k r s - On p b a a r n N k o s t on list 2 list 2 list2 list par list list par list January 9,0891 16,985 9, 637 19,101 9,852 18, 071 9,911 17, 777 2,289 9,875 16,484 3,013 February 9,140! 17,429 19, 023| 9, 856 18, 019 9,917 17, 724 2,282 9,856 16,337 3,084 March 9,196 18,308 18,804| 9,873 17,976 9,922 17, 692 2,285 9,820 16,246 3,142 April 9,246 18,492 9,726 18,792| 9,904 17,943 9,923 17, 663 2,280 9,8061 16,119 3,185 ! May __ 9,303 18,502 9,747 18,781! 9, 17, 918 9,927 17,643 2,279 9,785 15,981 3,240 June 9,366 18, 614 9,775 18,716i 9,927 17, 889 9,933 17, 589 2,310 9,763 15,896 3,301 July 9,421 18, 605 9,779 18, 599 17, 884 9,916 17, 565 2,324 9,745 15,820 3,353 August _. 9,472 18, 605 9,792 18,550; 9,917 17,865 9,905 17, 381 2,489 9,733 15,736 3,419 September. __ 9,506 18,620 9,795 18, 5031 9,917 17, 863 9,906 17, 255 2.580 9,718 15, 662 3,496 October 9,544 18,675 9,803 18,388; 9,918 17,851 17,114 2,672 9,708 15, 601 3,550 November 9,574; 19,188 9,805 18,319, 9,916 17,836 16,919 2,791 9,700 15, 524 3,612 December 9,612! 19,172 9,827 18, 2171 9, 916 17, 822 16, 725 2,896 9,682 15,445 3,647 1925 1928 Nonmember Nonmember End of month Mem- bankS banks ber banks On par Not on On parlNot on! On parlNot on list par list list par list! list list January 9,674 15,361 3, 679! 9,206 13,852 13,155 3,918 February 9,662 15,268 3, 733! 9,168 13, 781 13,101 3,905 March __j 29,5351 15,193 3, 7571 ,143 13, 700 13, 035 3, 910 April 9,540, 15,079 3,824 9,130 13, 643 12, 960 May 9,550 14,970 ,400! 14,325 3,971 9,110 12,925 3, 916 June 9,546' 14,932 9,384 14,257 3,965 9,106 13,556! 3, _„. 12,888 3,926 July 9,544! 14,888 9,377 14,207 3,901 9,105 13,528| 3,857 12,864| 3, 934 August.. 9,540 14,857 9,377 14,164 3,907 9,099 13,486! 3,8581 12,838i 3,936 September 9,545 14.786 3,963 ,360 14,130 3,924 12, 800 October 9,532 14, 742 3,968! 9,336i 14,073 3,935 12, 758 s November 9,521 14, 701 3,968! 9,301 13,991 3,925 12,713i 3,913 December 14, 643 3,970' 9,260 13,911 3,913 12,643; 3,911 1 Figures as of 15th of month. 2 Figures for nonmember banks not on par list not available. 3 Reduction from preceding months due largely to exclusion of member banks carried on capital-stock records, but not in actual operation; on this date (March 31,1925) the number of such banks was 108. 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
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 79 FEDERAL RESERVE BANK PREMISES No. 22.—COST OF BANK PREMISES OF FEDERAL RESERVE BANKS AND BRANCHES TO DECEMBER 31, 1928 NEW BUILDINGS CONSTRUCTED BY FEDERAL RESERVE BANKS Cost of Cost of buildings land, in- Fed o e r r a b l r r a e n s c e h rve bank bu c d l i e u l o d m d l i d i o n n l g g - s m e F r a y i c x h a e n i d n d - All other Total b la u c T n i o d l o s d t t a i a n o n l f g d s v B a n o l e u o t e k , Date occupied ished, equipnet ment Boston $1,246,726 $662,157 $3, 542, 603 $4,204, 760 $5,451,486 $3,701,984March, 1922. New York: Main building 4,850,210 2, 819,733 11,928,960 14, 748, 693 19, 598,903 13, 783,436October, 1924. Annex building 592, 679 194,344 1,472, 6441, 666, 9882, 259, 6671, 611, 8340). Cleveland 1,295,490 1,423, 3666, 582, 2278,005, 5939, 301,0835, 762,126 Richmond 352, 257 410,409 2, 031,4442,441, 8532, 794,1101, 698, 516August, 1923. Baltimore 250,487 306, 8431, 259,9971, 566,8401, 817,3271, 696,875October, 1921. Atlanta 283,000 175, 2791, 355,4871, 530, 7661,813, 7661,232,170 September, 1928. Birmingham __ 124,137 46, 788 311, 336 358,124 482, 261 388, 254 October, 1918. Jacksonville 45, 842 25, 956 214,312 240, 268 286,110 207, 300January, 1927. New Orleans 201, 250 159, 502 738,404 897, 9061,099,156 730, 657June, 1924. Chicago 2, 963, 5481, 276, 5796, 217,1057,493,684|l0,457,232 6, 788,054October, 1923. Detroit 650, 000 113,161 1,003, 4381,116,599 1,766,599 1, 738,986July, 1922. St. Louis 1, 355, 3741,058,979 2,178, 8663,237,845 4, 593, 2193,023, 670December, 1927. Little Rock. __ 85, 007 101,143 235, 544 336, 687 421, 694 334,126 June, 1925. Memphis.. 100,831 2,975 84,469 87,444 2188, 275 188,275 March, 1925. Minneapolis.._ 600, 521 520,054 2,416, 7452,936, 7993, 537, 3202,040, 749(3). Kansas City 495,300 777, 9403,391,101 4,169,041 4, 664, 3412, 765, 363February, 1925. Denver 101, 512 55,448 449, 876' 505, 324 606, 836 460,103 November, 192L Oklahoma City 65, 021 74,891 409,890! 484, 781 549, 802 387, 675November, 1925. Omaha _ 176, 427 70,487 397,938 468,425 644, 852 526, 631April, 1923. Dallas 181,120 325, 2731,169, 8711 1,495,1441, 676, 2641, 222, 339December, 1925. El Paso 39,003 10, 374 111,819! 122,193 161,196 120,193 March, 1921. Houston 66, 313 59,554 288,091) 347, 645 413, 958 325, 893August, 1920. San Antonio... 75,002 19, 953 156, 557; 176, 510 4 251, 512 251, 512February, 1922. San Francisco __ 412,9961 700, 6613,218,654' , 919, 3154, 332, 3112, 740, 012October, 1928. Los Angeles.. 450, 976! 450,976 450, 976December, 1923. Salt Lake City 114,075! 71, 873 354, 390 426, 263 540, 338 495, 753(5). Total.. 17,175,10411,463, 722 51, 521, 768 62, 985,490 80,160, 594 54, 673,46F2ebruary, 1927. I BUILDINGS PURCHASED BY FEDERAL RESERVE BANKS [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 $45,000 $125,864 $125, 864 $170, 864 $98,900 0). Street). Buffalo.. _ 255,000 457, 734 457, 734 712, 734 593,100 May, 1928. Philadelphia _ 800, 717 $339,584! 2,044,661 2, 384, 2453,184,962 1, 751, 956 December, 1917. Pittsburgh 297,000 138, 994j 560,460 699,454 996,454 773,054 February, 1920. Baltimore 120, 000 81,023 81,023 201,023 180, 000 Unoccupied. Nashville _ __ 48,000 25,1011 211,616 236, 717 284, 717 185, 794 December, 1922. Louisville ._ _ 131,177 33, 650 227, 669 261, 319 392,496 266, 233 June, 1919. Helena.._ 5,000 16,1091 156, 290 172, 399 177, 399 68,983 February, 1921. Total 1, 701,894 553,4381 3,865,317 4,418,755 6,120, 649 3,918,020! Grand total 18, 876, 998 12,017,160^55,387, 085 67,404, 245 86, 281, 243 58, 591,482 1 Occupied by tenants. 2 Estimated cost to complete, $178,000. 3 Building under construction. * Estimated cost to complete, $2,000. fi Building plans in preparation. NOTE.—No bank buildings or sites therefor have been acquired for the following branches and agencies: Branches—Charlotte, Portland, Seattle, Spokane; agencies—Savannah, Habana. The Cincinnati branch on January 3, 1928, moved into its new quarters in the Chamber of Commerce building, erected on the site leased to the Cincinnati Chamber of Commerce by the Federal Reserve Bank of Cleveland under a 99-year lease. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
80 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS No. 23.—GROSS AND NET EARNINGS OF FEDERAL RESERVE BANKS, AND DISPO- SITION MADE OF NET EARNINGS, 1914-1928 [Figures for each Federal reserve bank are given in Table 83] Earnings Disposition of net earnings Year Trans- Franchise Profit (+) Gross Net Div p i a d i e d nds s fe u r r r p e l d u s to i t U ax . S p . a i G d o t v o - or c l a o r s r s i e ( d —) ernment i forward 1914-15 $2,173,252 -$141,459 $217,463 -$358,922 1916 5,217,998 2,750,998 1,742,774 +1,008, 224 1917 16,128, 339 9, 579,607 6,801, 726 $1,134,234 $1,134,234 +509, 413 1918 67, 584, 417 52,716,310 5, 540, 684 48, 334, 341 -1,158,715 1919 102, 380, 583 78,367,504 5,011,832 70,651, 778 2, 703,894 1920 181,296,711 149,294,774 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 1927 43, 024,484 13,048, 249 7, 754, 539 5,044,119 249, 591 1928 64, 052, 860 32,122,021 8, 458,463 21,078, 899 2, 584, 659 1 Amount paid as franchise tax for 1922 includes additional franchise tax payments for prior years withdrawn from surplus account on December 31, 1922, as follows: For 1920, $270,389; for 1921, $3,129,673. No. 24.—EARNINGS OF FEDERAL RESERVE BANKS, BY SOURCES, 1914-1928 Earnings Total disc b O o il u n l n s ted pur b c O i h l n l a s sed se U S c n t u O a i r n t t i e e ti s d es D p r e e e n f s i a e c l r i t v e i e e n s t m ou i s s F c s r e o o l u l m a r n c e e - s 1914-15 $2,173, 252 $1, 218, 516 $244, 664 $171,831 $538, 241 1916 5, 217, 998 1, 025, 675 1, 560, 918 1,106,860 $1,157 1, 523, 388 1917 16,128, 339 6, 971, 479 4, 951, 729 2, 367,989 194, 526 1, 642, 616 1918 . 67, 584, 417 48,348,007 11, 939, 808 3, 828, 782 698,991 2,768, 829 1919 102, 380, 583 80, 768,144 13, 994, 544 5, 761, 300 727, 844 1,128, 751 1920 _ . .. 181, 296, 711 149, 059,825 22,020,158 7,140, 615 1,573, 335 1, 502,778 1921 122, 865, 866 109, 598, 675 5, 234,141 6, 253, 854 1,177, 562 601, 634 1922 50,498,699 26, 523,123 5, 628,956 16, 682,463 602,951 1,061,206 1923 50, 708, 566 32,956, 293 9, 371, 288 7,444,089 521,061 415, 835 1924 _ . 38, 340, 449 15, 942, 845 5, 709, 809 14, 712, 593 381, 619 1, 593, 583 1925 41, 800, 706 17, 679, 549 9,103, 915 12, 783,001 310,406 1, 923, 835 1926 47, 599, 595 22, 551, 561 10,003,081 12, 589,119 382,946 2,072, 888 1927 43, 024, 484 17, 010, 778 9, 206, 677 14, 206,174 273, 839 2, 327,016 1928 64,052, 860 38, 334,140 13, 020, 535 10, 827, 702 277, 401 1, 593,082 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE NOTES No. 25—FEDERAL, »—FEDERAL RESERVE AGENTS' ACCOUNTS AT THE END OF EACH MONTH [In thousands of dollars] 1927 1928 Dec. 31 Jan. 31 Feb. 29 Mar. 31 Apr. 30 May 31 June 30 July 31 Aug. 31 Sept. 30 Oct. 31 Nov. 30 Dec. 31 Federal reserve notes received from the comptroller _. 3, 030,152 2,930,271 2, 870,453 2, 819, 306 2, 793,131 2, 783,146 2, 823, 791 2, 821,388 2,805, 291 2, 864, 750 2, 911, 308 2,931, 673 3, 016, 416 Federal reserve notes held by Federal reserve agents 796,055 901,170 878,280 870,150 841,185 827, 305 820, 980 795, 330 777,19< 781, 095 813, 920 790, 830 739, 062 Federal reserve notes issued to Federal reserve banks: Held by issuing Federal reserve bank.. 444, 230 447, 758 403,935 346, 427 349,916 349,344 358,307 411, 524 341, 810 365,044 387, 572 348, 476 439,160 Held by other Federal reserve banks... 23,504 19, 616 17,150 13, 451 15,113 18, 219 16,481 21, 410 22, 999 18, 720 19, 584 20, 921 28, 707 Held by United States Treasury 965 1,027 887 1,014 1,303 1,590 988 1,037 1,061 1,264 1,434 In circulation L 1,762,794 1,560, 762 1, 570,061 1, 588,391 1,585,903 1,586,975 1, 626,433 1, 592,136 1, 662, 250 1, 698, S 1, 689,171 1, 770,182 1,808,053 Total notes issued . 2,23'4,097 2.029,101 1,992,173 1, 949,156 1, 951,946 1, 955,841 2,002,811 2, 026, 058 2,028,096 2, 083, 655 2,097, 388 2,140, 843 2, 277, 354 Collateral held as security for Federal reserve notes issued to Federal reserve banks: Gold and gold certificates— In vault- Gold bullion 105,150 105,150 105,150 105,150 105,150 53,161 53,161 53,161 53,161 110,408 110,407 110,408 139, 998 U G n ol i d te d ce r S t t if a i t c e a s t e g s o _ ld _ coin 2 9 0 6 5 , , 6 9 0 9 5 5 2 9 1 7 2 , , 1 18 0 6 5 2 9 1 7 2 , , 1 5 0 8 5 6 2 9 1 7 1 , , 1 8 0 8 5 6 2 9 1 7 8 , , 1 9 0 8 5 5 2 9 0 2 9 , , 1 3 0 4 5 1 2 9 1 2 0 , , 1 1 0 1 5 0 2 8 1 4 0 , , 6 7 0 1 5 0 2 8 00 7 , , 6 5 0 5 5 5 1 9 43 0 , , 1 5 0 5 5 5 1 9 4 2 3 , , 5 6 5 0 5 5 1 9 3 2 8 , , 3 4 5 4 5 5 1 9 3 2 9 , , 0 2 2 5 0 5 2 O Total in vault _ 407, 750 414,441 414,841 414,141 421, 240 354,607 355,376 348,476 341,321 344, 068 346, 567 341, 208 371,273 W In gold redemption fund 102,613 105,601 96,068 100,235 103,973 101, 500| 84,953 97,036 93,077 87,019 102,686 98, 454 96,347 m In gold fund, Federal Reserve Board.. 1, 028,333 940,499 878,048 837,171 652,922 702, 876 679, 204 655,897 768, 576 732, 791 700, 625 761, 917 Total gold and gold certificates. 1,460, 541 1,388,957 1,351, 547 1,188,879 1,109,029 1,143, 205 1,124, 716 1,090, 295 1,199, 663 1,182, 044 1,140,287 1,229,537 Eligible paper 943,553 752,258 801,275 912,442 1,134,415 1, 247,727 1, 263,982 1,158, 896 1, 209,910 1,327,331| 1, 318,367 1,501,931 1,470,000 Total collateral held 2,482,249 2, 212,799 2,190,232 2,263,989 2,323,294 2,356,756 2, 407,187 2, 283, 612 2, 300, 205 2, 526, 994 2, 500, 411 2, 642, 218 2, 699, 537 Collateral required as security for Federal reserve notes _. 2,234,097 2,029,101 1,992,173 1,949,156 1,951, 946 1,955,841 2,002,811 2, 026, 058 2, 028,096 2,083, 655 2, 097, 388 2,140, 843 2, 277, 354 Collateral pledged in excess of Federal reserve notes issued _ 248,152 183, 698 198,059 314,833 371, 348 400,915 404,376 257, 554 272,109 443,339 403,023 501,375 422,183 i This figure corresponds with that given under same caption in Table 33. It differs from that given in Table 7, by the amount of Federal reserve notes held by other Federal reserve banks and by the United States Treasury. Back figures.—See Annual Report for 1927 (Table 76), 1926 (Tables 29-31), etc. OO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOLD STOCK, GOLD MOVEMENTS, AND MONEY IN CIRCULATION 83 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOLD No. 26.—MONETARY GOLD STOCK1 OF THE UNITED STATES, 1914-1928 [In thousands of dollars] End of month figures Month 1914 1915 1916 1917 1918 1919 1920 January 1,922,502 1, 821, 9432,325,198 2,921,617 3,160,062 3,162,269 2, 929, 548 February.. 1,918,972 1, 838,176 2,325,006 2, 995, 698 3,162,196 3,164, 873 2, 887,062 March 1, 930,975 1, 869,340 2,322, 977 3,105,084 3,164,639 3,165,026 2, 850,451 April 1,941,575 1, 892, 7522,317,740 3,136, 892 3,165, 994 3,177,055 2,841,249 May 1,929,093 1, 929, 4412,336,304 3,133,453 3,171,643 3,177,312 2, 855, 677 June 1, 890, 657 1,985, 539 2,444, 636 3,220,242 3,162, 808 3,113,307 2, 865,483 July 1, 858, 708 2,006, 733 2,505, 732 3,190,084 3,162,404 3,064,104 2, 862,302 August 1, 852, 679 2,076,303 2, 549, 435 3,164, 856 3,160, 693 3,124, 909 2, 850,640 September. 1,843,823 2,123,509 2,630,234 3,150,660 3,153,168 3,146, 931 2, 872,805 October. _. 1,808,205 2,197,957 2, 713, 572 3,153,250 3,156,264 3,103,167 2, 867, 838 November. 1, 806, 623 2, 259,823 2, 736,133 3,153, 704 3,159,066 3,044,293 2, 897,329 December. 1, 813,005 2,312,061 2, 842, 804 3,155,009 3,159, 915 2, 994,127 2, 925, 750 Month 1921 1922 1923 1924 1925 1926 1927 1928 January 2,966,142 3, 684, 9903, 952, 5334, 289, 3424,422,889 4,411, 624 4, 564, 328 4, 373, 277 February.. 2,999,771 3, 723, 3793, 963, 3974, 323,136 4, 369, 3894,423,164 4, 585, 641 4, 362, 096 March 3, 750,085 3,970, 269 4, 363,632 4, 346,144 4,441, 550 4, 596, 724 4, 304, 536 April 3,163, 637 3, 764, 2633,981, 650 4, 410, 9594, 349, 7624,438,158 4, 609, 668 4, 265,857 May 3, 231, 2403, 771,434 4, 027, 8354,455,162 4,361,234 4,433, 389 4,608,241 4,160,188 June 3, 274, 7303, 784, 6514, 049, 5544, 488, 3904,364, 632 4, 447, 3974, 587, 298 4,109,152 July 3, 347, 0103, 828, 6184, 078, 8044, 511, 3524, 370,119 4,471,115 4, 579, 833 4,112, 592 August 3,439,464 3,854, 714 4, 111, 4434, 520, 9634, 382, 7514,473,123 4, 588, 360 4,122, 892 September. 3, 519,165 3, 872, 8014,136,465 4, 511,263 4,381,538 4,465, 760 4,570,840 4,124,947 October 3, 572,215 3,887,873 4,167, 065 4, 509, 2974,407,476 4,473,447 4, 540, 681 4,142, 267 November. 3, 626, 7653,906, 015 4, 207, 0634, 526, 6594, 397,440 4, 476, 6284,450, 958 4,128,242 December. 3,660, 301 3,928, 816 4, 243, 8694, 499,481 4, 399,425 4,492, 060 4, 379, 268 4,141,421 Averages of end of month figures Monthly averages of daily figures Month 1914 1915 1916 1917 1918 1919 1920 January... 1,917,876 1,817,474 2, 318, 630 2, 882, 211 3,151,906 3.160, 234 2, 961, 253 February.. 1,920, 737 1,830, 060 2, 325,102 2, 958, 658 3,158, 603 3,162,433 2, 909, 001 March 1,924,974 1,853,758 2, 323,992 3,050, 391 3,162, 393 3.161, 280 2,859,069 April 1,936, 275 1,881, 046 2, 320, 359 3,120, 988 3,163,187 3,165, 692 2,820, 572 May 1,935, 334 1, 911, 0972, 327, 022 3,135,173 3,162, 855 3,175,943 2,835, 000 June 1,909, 875 1, 957, 4902, 390,470 3,176, 848 3,161, 513 3,168, 636 2, 853,965 July 1,874,683 1,996,136 2,475,184 3, 205,163 3,160,765 3,086, 527 2, 862, 381 August 1, 855,694 2, 041, 518 2, 527, 5842 3,182,927 3,156, 692 3,114, 266 2,854, 781 September. 1,848, 251 2, 099,906 2, 589, 8352 3,152,186 3.155, 665 3,143, 230 2, 847, 398 October. _. 1,826, 014 2,160, 733 2, 671, 9032 3,151,254 3,151, 263 3,120,099 2, 855,131 November. 1,807,414 2,228,890 2,724,853 2 3,152, 7653,154,675 3,070,199 2, 872, 802 December. 1, 809, 8142,285, 942 2, 789,4692 3,153,360 3.156, 364 3, 020,905 2,893, 649 Monthly averages of daily figures Month 1921 1922 1923 1924 1925 1926 1927 1928 January 2,930,716 3,671,794 3,944,625 4, 266,366 4,467,776 4,406, 525 4, 527, 046 4, 376,903 February 2,975,124 3, 704, 0963,959, 603 4, 302, 0694, 392, 5864, 425, 0684, 575, 667 4, 373, 000 March 3,040, 214 3, 735, 9283, 965, 6194, 340,144 4, 347, 0384, 443, 7214, 594,823 4, 334, 581 ApriL.. 3,117,465 3, 755, 5703,975, 064 4, 382, 6954, 346, 0144,448, 050 4, 601, 256 4, 286, 767 May._ 3,196, 564 3, 767, 8853,993, 030 4,432,923 4,359, 001 4, 433,791 4, 650, 698 4, 206, 806 June 3, 253,620 3, 776, 3904, 039, 5654,471,057 4, 364, 0124,438, 249 4, 606, 350 4,118, 500 July 3, 304, 8563, 802, 6014, 060, 8674, 502, 6214, 365, 2484, 460,151 4, 575, 095 4,113, 355 August 3, 391, 8043, 840, 3064, 096, 6744, 515, 5184, 374,403 4, 467,137 4, 585, 081 4,118,194 September... 3,478,923 3,860, 308 4,122,741 4, 514, 6484, 386,147 4,470,882 4, 584, 345 4,125, 267 October 3, 547,431 3, 884,178 4,154, 556 4, 506, 3264, 390, 8154, 471, 833 4, 566, 212 4,133, 323 November. __ 3, 594, 5143, 895, 9344,182,405 4, 516, 9934,406, 689 4, 477, 0354,489, 500 4,151, 233 December 3,642,643 3, 916, 9054, 226,033 4, 506, 5824, 397, 4944,481, 381 4,415, 742 4,141, 548 1 Gold coin and bullion (including foreign coin) held by United States Treasury and Federal reserve banks (including gold held abroad) and United States gold coin in circulation. Amounts held abroad (end of month figures) as follows: 1917, June-December, $52,500,000; 1918, January-May, $52,500,000; June, $16,271,000; July, $11,630,000; August-December, $5,829,000; 1919, January-March, $5,829,000; August, $107,119,000; September, $159,618,000; October, $149,166,000; November, $135,694,000; December, $131,320,- 000; 1920, January, $114,322,000; February, $112,822,000; March-April, $112,780,000; May-July, $111,530,000; August-September, $111,458,000; October, $16,536,000; November-December, $3,300,000; 1921, January- February, $3,300,000; 1927, May, $59,548,000; June, $23,300,000. 2 Monthly averages of daily figures. 85 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
86 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 27.—MONETARY GOLD STOCK OF THE UNITED STATES, BY WEEKS, 1922-1928 [Averages of daily figures. In millions of dollars] Week ending Gold Week ending Gold Week ending Gold (Saturday)— stock (Saturday)— stock (Saturday)— stock 1922 1923 1924 Jan. 7—. 3,663 Jan.6 3,932 Jan.5. 4,245 Jan. 14... 3,669 Jan. 13.. 3,942 Jan. 12.. 4,258 Jan. 21... 3,675 Jan. 20 3,949 Jan.19. 4,270 Jan. 28... 3,676 Jan. 27 3,950 Jan. 26. 4,276 Feb. 4__. 3,684 Feb. 3. 3,953 Feb. 2... 4,283 Feb. 11.. 3,695 Feb. 10—. 3,957 Feb. 9... 4,292 Feb. 18- 3,706 Feb. 17 3,959 Feb. 16- 4,299 Feb. 25.. 3,715 Feb. 24... 3,962 Feb. 23.. 4,308 Mar. 4... 3,721 Mar. 3.. 3,963 Mar. 1__ 4,316 Mar. 11.. 3,728 Mar. 10 3,966 Mar. 8.. 4,325 Mar. 18.. 3,737 Mar. 17. 3,964 Mar. 15. 4,337 Mar. 25.. 3,742 Mar. 24 3,964 Mar. 22. 4,343 Mar. 31 3,968 Mar. 29. 4,353 Apr 3,746 Apr. 7 3,970 Apr. 5... 4,362 Apr. 3,750 Apr. 14..._ 3,974 Apr. 12.. 4,370 Apr. 3,753 Apr. 21 3,976 Apr. 19.. 4,385 Apr. 22.._ 3,758 Apr. 28... 3,978 Apr. 26_. 4,393 Apr 29.- 3,762 May 6 3,764 May 5__. May 3__ 4,408 May 13 3,768 May 12___ 3,984 May 10_ 4,419 May 20 3,769 May 19 3,990 May 17 _ 4,431 May 27 3,769 May 26 3,997 May 24_ 4,441 May 31_ 4,450 June 3__. 3,770 June 2 4,017 June 7... 4,459 June 10_. 3,771 June 9 _ 4,029 June 14.. 4,466 June 17_. 3,774 June 16 _. 4,039 June 21 _. 4,474 June 24_. 3,780 June 23..__ 4,046 June 28- 4,481 June 30 4,048 July 1 3,784 July 7- 4,051 July5-. 4,490 July 8 3,788 July 14.... 4,053 July 12.. 4,496 July 15 3,797 July 2l._ 4,059 July 19.. 4,505 July 22 3,806 July 28 4,072 July 26_. 4,509 July 29 3,816 Aug. 5... 3,829 Aug. 4__ -. 4,080 Aug. 2__ 4,510 Aug. 12.. 3,836 Aug. 11 4,088 Aug. 9__ 4,512 Aug. 19.. 3,840 Aug. 18___ --. 4,096 Aug. 16_. 4,515 Aug. 26. 3,845 Aug. 25 4,104 Aug. 23 _. 4,516 Aug. 30_. 4,520 Sept. 2 3, 851 Sept. l._ 4,109 Sept. 6_. 4,518 Sept. 9 3,855 Sept. 8 4,112 Sept. 13.. 4,516 Sept. 16 3,859 Sept. 15 4,117 Sept. 20. 4,515 Sept. 23 3,862 Sept. 22 4,128 Sept. 27. 4,512 Sept. 30 3,867 Sept. 29 4,134 Oct. 7__. 3,880 Oct. 6 4,139 Oct. 4... 4,509 Oct. 14__ 3,884 Oct. 13. 4,150 Oct. 11.. 4,505 Oct. 21__ 3,886 Oct. 20 4,158 Oct. 18.. 4,506 Oct. 28. _ 3,885 Oct. 27 4,163 Oct. 25- 4,506 Nov. 4... 3,888 Nov. 3 4,166 Nov, 4,507 Nov. 11.. 3,891 Nov. 10 4,172 Nov 4,510 Nov. 18.. 3,896 Nov. 17 4,180 Nov, 4,514 Nov. 25.. 3,899 Nov. 24... 4,188 Nov 4,520 Nov, 4,524 Dec. 2__ 3,904 Dec. 1 4,200 Dec. 6... 4,522 Dec. 9__ 3,907 Dec. 8. 4,210 Dec. 13.. 4,513 Dec. 16. 3,916 Dec. 15 4,223 Dec. 20.. 4,502 Dec. 23. 3,921 Dec. 22.... 4,232 Dec. 27.. 4,498 Dec. 30. 3,925 Dec. 29-... 4,236 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOLD 87 No. 27.—MONETARY GOLD STOCK OF THE UNITED STATES, BY WEEKS, 1922- 1928—Continued [Averages of daily figures. In millions of dollars] Week ending Gold Week ending Gold Week ending Gold Week ending Gold (Saturday)— stock (Saturday)— stock (Saturday)— stock (Saturday)— stock 1925 1926 1927 1928 Jan. 3. Jan. 2 4,398 Jan. l._.. 4,488 Jan. 7___. 4,377 Jan.10. 4,492 Jan. 9 4,403 Jan. 8 4,499 Jan.14... 4,376 Jan.17. 4,470 Jan. 16.... 4,403 Jan. 15... 4,518 Jan. 21... 4,376 Jan. 24. 4,455 Jan. 23.... 4,413 Jan. 22... 4,537 Jan.28._. 4,380 Jan. 31. 4,441 Jan. 30 4,409 Jan. 29... 4,551 Feb. 4—_ 4,374 Feb. 7___ 4,417 Feb. 6— 4,416 Feb. 5— 4,561 Feb. 11— 4,376 Feb. 14.. 4,394 Feb. 13.. 4,426 Feb. 12... 4,571 Feb. 18... 4,376 Feb. 21.. 4,385 Feb. 20.. 4,429 Feb. 19... 4,578 Feb. 25... 4,373 Feb. 28.. 4,375 Feb. 27.. 4,427 Feb. 26-. 4,585 Mar. 3-__ 4,362 Mar. 7.. 4,356 Mar. 6-. 4,432 Mar. 5-._ 4,588 Mar. 10.. 4,357 Mar. 14. 4,349 Mar. 13. 4,444 Mar. 12.. 4,593 Mar. 17-. 4,335 Mar. 21. 4,341 Mar. 20. 4,447 Mar. 19.. 4,594 Mar. 24.. 4,324 Mar. 28. 4,343 Mar. 27. 4,446 Mar. 26.. 4,599 Mar. 31. _ 4,310 Apr. 4__. 4,344 Apr. 3... 4,449 Apr. 2_— 4,598 Apr. 7—. 4,304 Apr. 11.. 4,344 Apr. 10.. 4,452 Apr. 9—_ 4,599 Apr. 14— 4,301 Apr. 18.. 4,346 Apr. 17.. 4,452 Apr. 16... 4,600 Apr. 21... 4,280 Apr. 25.. 4,347 Apr. 24.. 4,445 Apr. 23... 4,602 Apr. 28— 4,267 Apr. 30— 4,605 May 2_. 4,351 May 1_- 4,440 May 5 4,263 May 9.. 4,359 May 8__ 4,439 May 7... 4,629 May 12.. 4,236 May 16. 4,358 May 15. 4,432 May 14.. 4,684 May 19— 4,194 May 23. 4,360 May 22. 4,432 May 21.. 4,681 May 26.. 4,180 May 30. 4,360 May 29. 4,432 May 28.. 4,627 June 2— 4,165 June 6__. 4,362 June 5—. 4,433 June 4 4,608 June 9 4,148 June 13.. 4," " June 12.. 4,434 June 11— 4,614 June 16— 4,106 June 30.. 4,364 June 19.. 4,436 June 18—. 4,615 June 23— 4,103 June 27.. 4,366 June 26.. 4,444 June 25— 4,600 June 30— 4,105 July 4 4,365 July 3... 4,446 July 2.... 4,589 July 7 4,110 July 11 4,366 July 10.. 4,449 July 9—. 4,577 July 14_ __ 4,115 July 18 4,366 July 17.. 4,462 July 16-. 4,570 July 21... 4,114 July 25 4,364 July 24.. 4,466 July 23— 4,573 July 28-. 4,115 July 31.. 4,469 July 30... 4,578 Aug. 1... 4,366 Aug. 4... 4,113 Aug. 8... 4,370 Aug. 7... 4,467 Aug. 6... 4,579 Aug. 11.. 4,115 Aug. 15.. 4,372 Aug. 14.. 4,463 Aug. 13.. 4,583 Aug. 18.. 4,119 Aug. 22.. 4,376 Aug. 21.. 4,468 Aug. 20.. 4,586 Aug. 25.. 4,120 Aug. 29.. 4,379 Aug. 28.. 4,470 Aug. 27-. 4,588 Sept. 1... 4,123 Sept. 5-_ 4,385 Sept. 4.. 4,470 Sept. 3.-. 4,589 Sept. 8... 4,123 Sept. 12. 4,390 Sept. 11. 4,473 Sept. 10-_ 4,593 Sept. 15. _ 4,124 Sept. 19. 4,390 Sept. 18. 4,471 Sept. 17. _ 4,584 Sept. 22._ 4,126 Sept. 26. 4,382 Sept. 25. 4,470 Sept. 24.. 4,582 Sept. 29. _ 4,128 Oct. 3__ 4,382 Oct. 2__. 4,470 Oct. l_-._ 4,574 Oct. 6.-.. 4,125 Oct. 10. 4,384 Oct. 9... 4,471 Oct. 8 4,571 Oct. 13... 4,128 Oct. 17.. 4,385 Oct. 16_ 4,471 Oct. 15_._ 4,573 Oct. 20._. 4,136 Oct. 24. 4,396 Oct. 23.. 4,472 Oct. 22... 4,572 Oct. 27._- 4,139 Oct. 31. 4,402 Oct. 30. . 4,473 Oct. 29__. 4,555 Nov. 3-._ 4,143 Nov. 7.. 4,408 Nov. 6.. 4,475 Nov. 5-._ 4,530 Nov. 10.. 4,148 Nov. 14. 4,410 Nov. 13. 4,478 Nov. 12.. 4,508 Nov. 17.. 4,158 Nov. 21. 4,411 Nov. 20. 4,479 Nov. 19-. 4,487 Nov. 24.. 4,160 Nov. 28. 4,401 Nov. 27. 4,477 Nov. 26.. 4,465 Dec. 1—. 4,138 Dec. 5... 4,397 Dec. 4... 4,475 Dec. 3 4,449 Dec. 8—_ 4,131 Dec. 12.. 4,398 Dec. 11.. 4,480 Dec. 10— 4,437 Dec. 15— 4,140 Dec. 19.. 4,401 Dec. 18.. 4,478 Dec. 17— 4,420 Dec. 22... 4,149 Dec. 26.. 4,395 Dec. 25.. 4,484 Dec. 24... 4,403 Dec. 29-. 4,148 Dec. 31— 4,391 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
88 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No, 28.—GOLD l EAEMAEKED BY FEDERAL RESERVE BANKS FOR FOREIGN ACCOUNT, BY MONTHS, 1916-1928 [In thousands of dollars] End of month 1916 1917 1918 1919 1920 1921 January 6,097 6,942 6,942 6,000 18,010 February-.. 6,097 6,942 6,942 5,000 20, 000 March 2 2,391 6,097 6,942 6,842 6,000 20,000 April 4,571 6,097 6,942 9,000 20,000 May 4,571 6,097 6,942 10,000 20,000 June 5,071 6,097 6,942 11, 500 23, 000 July 5,402 6,097 6,942 14, 500 18,000 August 5,502 6,778 6,942 16, 500 18, 000 September . 5,955 6,942 6,942 17, 500 8,000 October 5,981 6,942 6,942 3,000 20,000 November- 5,981 6,942 6,942 4,000 20, 500 December— 6,097 6,942 6,942 5,000 22, 000 End of month 1922 1923 1924 1925 1926 1927 1928 January 5,329 3,000 46,023 19,012 19, 779 193,919 February-_. 1,000 2,407 47, 389 30,012 16, 599 191,051 March 1,000 4,859 54, 214 53, 000 18,101 155,251 April. 5,417 39, 364 53, 000 19,101 109, 511 May 4,417 26,639 53,000 114,101 136, 050 Tune 2,417 21, 564 53, 580 114, 601 105, 997 July 1,500 5,000 25,465 49, 580 114, 417 45, 050 August 1,500 12, 984 16, 740 30,380 116, 918 39,134 September.. 1,000 26, 213 15, 839 32,780 125.918 40, 334 October 1,500 3,000 43, 213 12, 969 32, 776 150.919 39,134 November.. 1,700 3,000 43,713 10,969 40, 274 190, 919 64,136 December.. 3,700 3,000 45, 213 12,969 199,419 79,897 i Gold bullion (bars) and United States gold coin. 2 First transaction Mar. 21, 1916. No. 29.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY COUNTRIES [In thousands of dollars] Imports into United States Exports from United States From— To— 1925 1926 1927 1928 1925 1926 1927 1928 Belgium 1 1 Belgium 2,200 2,000 France 351 21, 048 154 France. 1,339 18 10,000 308, 002 Germany 2 1 1 1 Germany 68, 270 47, 550 13,994 28, 759 Great Britain 49,294 1,212 39, 396 37, 524 Great Britain 6,160 8,562 32, 525 Greece 3,406 Italy * 1,050 26, 093 Italy 7 Netherlands 4,318 8,055 4,000 Netherlands 10,085 15, 075 Poland and Danzig. 1,104 5,000 6,000 Spain 87 105 3 1 Spain 392 Sweden _-_ 3: 75: Sweden 1,003 1,027 Canada 33,123 82,543 63,650 102,371 Switzerland 1 12 Central America 2,324 1,516 1,224 1,041! Canada 45, 658 42, 392 29,i 22, 641 Mexico 5,097 23,913 6,001 4,610 Central America 1,503 3,855 253 323 West Indies 611 405 329 631| Mexico 8,810 6,202 6,984 4,490 Argentina _ 8 23 4,500 West Indies 214 154 40 101 Chili 447 21,180 7,021 624 Argentina _. 7,573 438 61,499 69,400 Colombia 1,611 1,663 1,489 1,374 Brazil 281 369 34, 351 25, 012 Ecuador 896 1,307 2,247 1,483 Colombia 3,004 2,019 1,001 2,053 Peru 1,728 2,644 2,268 1,458 Uruguay 802 2,000 9,000 Venezuela 647 531 481 Venezuela 2,660 1,700 1,530 5,970 Australia 51,119 21,920 3 Australia ' .92; China 120 5,032 1,674 British India 58, 775 578 2,974 1,485 Dutch East Indies... 2,108 1,707 1,499 ""I," 262 British Malaya 7,378 3,332 3,064 706 Hong Kong 1,508 China- 1,203 454 878 1,827 Japan 11, 008 14, 000 20, 000 4 Dutch East Indies.. 1,314 2,231 1,960 2,531 New Zealand 241 213 259 773 Hong Kong 12, 276 4,041 6,288 7,547 Philippine Islands. __ 1,833 1,990 1, 1,773 Philippine Islands.. 30 Egypt 15 30 Allother . 5991 370 83 296 Portuguese Africa.._ 552 244 43 13: Allother 77 157 126 5, 336| Total 1262, 64o|ll5, 708 201, 455 560, 759 Total |128, 273 213, 504 207, 535 168,897 Back figures.—See Annual Reports for 1927 (Table 19), 1926 (Table 102) and 1925 (Table 102). For figures by months (by countries) see Federal Reserve Bulletin. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOLD 89 No. 30.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY MONTHS, 1915-1928 [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 1915 1920 January 692 6,205 January 12,018 47,817 -35, 799 February 12,726 1,054 11,673 February 4' ,47'"3 42,873 -38,400 March 25,620 924 24,697 March 16, 985 47,050 -30,065 April 16, 203 814 15, 389 April 48, 522 44, 622 3,900 May 31,136 1,278 29, 859 May 15, 688 7,562 8,126 June 52, 342 2,822 49, 520 June 26, 765 5,320 21,445 July_... 17,263 , 2,192 15,071 July 19, 818 21, 873 -2,055 August. 61,641 l 1,128 60, 513 August 15, 378 24,986 -9, 608 September... 42,062 I 2,034 40,028 September 39,110 17,129 21,681 October 79,669 i 2,939 76, 731 October 116, 762 25, 931 90, 831 November... 60, 982 3, 661 57, 320 November 56,889 19, 870 37, 019 December.... 45,413 11,889 33, 523 December 44, 660 17, 058 27,602 Total-. 451,955 31,426 420, 529 Total 417,068 322,091 94, 977 1916 | 1921 January 15,008 10,214 4,795 January 33, 634 2,725 30,909 February 6,016 13, 685 -7, 669 February 42. 627 1,036 41, 591 March 9,776 10, 774 -998 March 87, 272 710 86,562 April 6,122 11, 503 -5,381 April 80, 662 384 80, 278 May 27, 322 11,919 15,403 May 58,171 1,063 57,109 June... 122,735 8,312 114,423 June 43, 576 774 42,803 July 62,108 9,395 52, 713 July 64, 247 3, 735 60, 513 August 41, 239 11,780 29,459 August _. 84. 902 672 84,230 September.. 92, 562 6,849 85, 713 September.. 66, 085 2,448 63, 637 October 97, 509 7,054 90, 455 October 47,107 7,576 39, 531 November. _ 46, 973 26, 335 20, 638 November... 51, 299 607 50, 691 December- 158, 621 27, 974 130, 647 December.,.. 31, 666 2,162 29, 504 Total.. 685, 990 I 155, 793 530,19' Total.. 691, 248 23, 891 667, 357 1917 1922 January 58, 926 20, 720 38, 206 January 26, 571 863 25, 708 February.-_ 103, 7f>fi 22,068 81,698 February 28, 739 1,732 27, 007 March 139,499 17, 920 121, 579 March 33, 488 963 32, 525 April. 32, 372 16,965 i 15,407 April 12, 244 1,579 10,665 May 52, 262 57,697 ! -5,435 May... 3,407 5,587 June 91, 339 67,164 I 24,175 June 12, 977 1,601 11,376 July .-- 27, 304 69,052 -41, 749 July 42, 987 644 42,343 August 18,692 46,049 l -27,357 August 19, 092 956 18,136 September __ 4,172 31, 332 -27,161 September.. 24,464 1,399 23,066 October 4,150 11,154 -7,004 October 20, 866 17, 592 3,275 November-. 2,906 7,223 -4,316 November.. 18,308 3,431 14,877 December... 17, 066 4,538 12,528 December... 26, 440 2,710 23, 730 Total 552,454 371,884 180, 570 Total-. 275,170 36, 875 238, 295 1918 1923 J J F A J O M M A S N D a u u e e c p e u n o a n a l b p t c r g u v r y y o e r i e t c u a e l u b e . m h . s r . m e m a - . t y b r r b b y e e e r r r . . . . . . 3 4 6 2 2 2 1 2 1 1 1 1 1 , , , , , , , , , , , , 6 4 5 7 6 5 9 5 4 7 9 8 2 0 4 1 4 1 5 9 6 7 2 9 1 4 9 1 6 2 5 7 6 0 0 2 3 5 2 3 3 7 3 2 2 2 3 1 , , , , , , , , , , , , 7 0 5 8 2 5 2 7 2 0 1 5 4 9 8 0 7 6 0 0 8 4 8 7 6 9 4 9 7 0 0 4 4 8 0 8 - - - - 2 4 2 1 1 , , 3 , 9 - - - , , 8 7 8 1 , 7 0 5 6 1 6 3 1 9 1 0 2 2 3 0 2 8 5 2 8 7 4 8 8 2 5 3 2 8 8 7 6 J J A J M A F M N S D O a u u e e p u e c o n a n l a b p c t y r g v r u y e o i r e t c u l e a b u e m h s m r e m a t y b r r b b y e e r e r r . . . . 3 4 3 2 3 3 1 2 2 1 2 2 9 2 5 9 7 8 6 9 7 9 , , , . , , , , , , , , 1 3 1 8 4 8 8 6 9 7 7 9 5 8 8 3 0 5 2 4 5 9 5 2 6 8 3 4 4 6 0 1 1 5 7 9 1 8 2 1 1 0 , . , , , 4 8 6 2 3 5 8 3 5 7 3 7 7 2 5 9 0 2 6 0 4 1 9 4 4 5 2 3 3 9 1 8 2 7 7 2 4 2 2 3 2 2 3 3 1 5 4 0 6 9 1 6 8 5 8 7 8 , , , , , , , , , , , , 9 5 5 4 4 8 3 3 9 6 9 0 8 5 3 8 0 8 3 4 3 5 4 1 4 9 3 8 7 5 2 8 0 5 1 0 Total-. 62,043 i 41,070 | 20, 973 Total.. 322, 716 28, 643 294, 073 1919 1924 J J A J D M M F A S N O a u u e e e p u c o n n a a b l p c t r g v r y u e y o i r e t c u e l a e u - b m h s m r m e a t y b r r b b y e e r e r r . . . . , 2 1 1 2 3 6 6 2 4 0 1 2 1 1 2 , , , , , , , , , , , ,9 1 9 4 0 6 9 1 8 4 3 4 1 1 4 8 8 4 7 3 9 9 9 7 4 3 5 1 0 6 4 0 0 7 2 2 8 4 4 5 4 2 5 6 3 3 3 1 2 1 5 4 1 4 9 , , , , , , , , , , , , 1 8 7 9 9 1 1 6 0 3 8 2 1 7 0 5 8 7 4 7 9 5 5 5 0 3 0 6 9 3 9 3 6 0 8 7 - - - - - - 5 2 3 - 5 3 4 1 2 7 3 6 9 9 , , 6 4 , - , , , , , , 2 8 8 1 4 6 9 8 3 5 8 7 8 3 7 6 7 2 2 7 4 3 7 3 8 9 1 8 7 2 9 3 5 J A J J F M A N M S D O a u u e e p u c o e n n a l a b p r t y g c v u r y e o i r t c u e l e a b e u . h m s . m r m e a t y r b r b b y e e e . r r r . _ . . . _ . . . 4 4 3 3 4 2 1 1 1 1 1 1 4 5 5 5 9 5 0 6 8 8 9 , , , , , , , . , , , , 1 1 1 4 6 1 8 8 3 0 2 7 8 1 3 1 5 3 5 6 2 7 7 0 1 1 6 8 4 0 6 2 2 4 4 2 3 4 4 6 9 2 1 , , , , , , 1 8 3 2 5 5 2 3 3 5 6 6 9 2 8 1 0 9 6 2 9 8 8 7 1 7 5 3 8 7 1 5 8 0 9 5 -2 4 4 3 3 4 2 1 1 1 9 1 4 4 5 8 , 5 4 4 3 2 0 3 , , , , , , , , , , , 0 8 5 0 4 1 4 6 5 7 9 5 2 5 0 7 8 0 7 0 5 0 1 7 7 5 5 6 1 1 3 6 2 7 3 7 Total.. 76, 534 368,185 -291, 651 Total I 319,721 61,648 258, 073 41223—29 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
90 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 30.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY MONTHS, 1915-1928—Continued [In thousands of dollars] Net im- Net imports or ports or Year and month Imports Exports exports Year and month Imports ! Exports exports () () 1925 1927 ! January 5,038 73, 526 January 59,355 | 14,890 44,465 February 3,603 50, 600 -46, 997 February 22,309 j 2,414 19, 895 March. 7,337 25,105 -17, 768 March 16,382 5,625 10, 757 April 8,870 21, 604 -12. 734 April.... 14,503 | 2,592 11,911 May 11, 393 13, 390 -1,997 May.. 34,212 j 2,510 31, 702 June _ 4,426 6,713 ' -2, 287 June 14,611 ! 1,840. 12, 771 July 10, 204 4,417 5, 787 July ! 10,738 j 1,803 8,935 August 4.862 2,136 2,726 August l 7,877 ! 1,524 6,353 September. _ 4,128 6, 784 -2, 656 September... 12,979 j 24,444 -11,465 October 50, 741 28, 039 22, 702 October 2,056 | 10,698 -8, 642 November... 10.456 24, 360 -13, 904 November ! 2,082 j 55,266 -53,184 December 7,216 5,968 1,248 December i 10,431 | 77,849 -67,418 Total. 128, 273 262, 640 -134,367 Total 207,535 | 201,455 1926 1928 January 19, 351 3,087 16, 264 January.. 38, 320 I 52, 086 -13,766 February 25, 416 3,851 21, 565 February.. 14,686 | 25, 806 -11,120 March 43,413 4,225 39,188 March 2, 683 i 97, 536 -94, 853 April 13,116 17,884 -4, 768 April 5,319 i 96, 469 -91,150 May 2,935 9,343 -6,408 May 1,968 ! 83, 689 -81, 721 June 18, 890 3,346 15, 544 June 20,000 ! 99,932 -79,932 July 19, 820 5,069 14, 751 July 10,331 ! 74,190 -63,859 August 11, 979 29, 743 -17, 764 August 2,445 ! 1,698 747 September. _ 15, 987 23, 081 -7, 094 September. 4,273 ! 3,810 463 October 8, 857 1,156 7,701 October 14.331 ! 992 13, 339 November... 16, 738 7.727 9,011 November . 29,591 ! 22,916 6, 676 December... 17, 004 7.196 9,808 December.. 24,950 ! 1,636 23, 304 Total 213,504 115, 708 97, 796 Total ._; 168,897 j 560,759 | -391,872 Back figures.—In 1914 net exports were $165,228,000; for 1914 figures, by months, see Annual Report for 1927 (Table 20). MONEY IN CIRCULATION No. 31.—UNITED STATES MONEY IN CIRCULATION,1 BY MONTHS, 1914-1928 [In thousands of dollars] End of month figures Month 1914 1915 1916 1918 1919 1920 January. _. 3, 501, 763 3, 252, 844 3, 592,466 3, 988, 882 4,136, 044 4,919,171 5,177, 275 February— 3, 502,963 3, 241, 725 3, 603, 464 4,119, 577 4,314,675 4,921,563 5, 360,312 March-.... 3, 508, 438 3, 263, 846 3, 612, 911 4,172, 946 4,396, 289 4, 947,979 5, 390, 734 April 3, 530, 019 3,283,839 3,621,308 4,194, 450 4,433,817 4,942,963 5, 409, 242 May 3, 532,861 3,316,956 I 3,585,421 4, 255, 855 4, 416, 409 4,917,706 5, 451, 646 June 3,459,434 3, 319, 582 3, 649, 258 2 4, 066, 404 4,4S1, 698 4, 876, 638 5,467,588 July 3, 393, 510 3, 323,141 3, 657, 559 3,972,992 4,563,653 4,869, 621 5,453,998 August 3,541,416 3, 402, 252 3, 736, 753 3,980,404 4, 776, 271 4,947,630 5, 548, 268 September. 3,731,997 3,455,320 3,821,786 4, 051, 349 5,026,618 5, 036, 501 5, 616,174 October. _. 3,743,682 3,518,919 | 3,876,301 4,106, 781 5,145, 344 5,126,856 5, 698, 215 November. 3,410,339 ! 3,544,335 i 3,877,061 4, 252, 267 5,195, 492 5,269,335 5, 643,187 December. 3,318,977 | 3,589,284 j 3,966,198 4, 372,668 5, 237, 706 5,378,470 5, 612,113 1 Money outside Treasury and Federal reserve banks (prior to November, 1914, money outside Treasury). 2 Figures prior to June 21, 1917 (when legislation became effective changing reserve requirements of member banks), while comparable with one another, are not strictly comparable with those for succeeding dates; the transfer to the Federal reserve banks of that part of legal reserves of member banks formerly held in own vaults reduced the volume of money outisde Treasury and Federal reserve banks (see note 1). T he increasing membership of State banks in the Federal reserve system after June, 1917, had a similar effect upon the figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY IN CIRCULATION 91 No..'31.—UNITED STATES MONEY IN CIRCULATION, BY MONTHS, 1914-1928— Continued [In thousands of dollars] End of month figures Month 1921 1922 1923 1924 1925 January 5,303,128 4,441, 453 4,614,248 4,777,368 4, 802, 358 4,841, 088 4, 845, 755 4, 677, 055 February.. 5, 272, 679 4,490, 831 4,703,366 4,887,227 4, 853, 229 4, 903, 627 4, 884, 768 4, 690,430- March 5,123, 759 4, 496, 845 4, 746,834 4,899,375 4,818, 339 4, 859, 825 4, 861, 706 4, 748, 934 April 5,079, 594 4,468, 354 4, 759, 236 4, 853,195 4, 789, 486 4,907,096 4,890, 607 4,748,458- May 5,015,363 4,454, 765 4, 797, 068 4, 904, 842 4, 841, 282 4, 923,181 4, 892, 667 4, 744, 074 June. 4,910, 993 4,463,172 4, 823, 275 4, 849, 307 4, 815, 208 4, 885, 266 4, 851, 322 4, 796, 621 July 4, 796, 956 4, 423, 728 4, 786, 907 4, 755, 558 4, 795, 304 4, 909,186 4, 845, 782 4, 700, 535 August 4, 740, 063 4, 479, 762 4, 876, 474 4, 858, 907 4, 867,068 4, 930, 233 4, 853, 773 4,802,820 September. 4, 744, 111 4, 607, 717 4,945,182 4, 863,185 4,916,116 4, 978, 221 4, 948, 462 4, 846,198 October 4, 694, 606 4, 645,957 4, 928, 900 4,941, 514 4,968, 536 5,021,411 4,945, 772 4, 806, 230 November. 4, 651, 484 4, 703, 630 5, 017, 653 5, 051, 945 5,044, 345 5,036,980 4,951,972 4,990,114 December. 4, 689, 785 4, 817, 039 5, 043, 819 5, 047, 463 5,104,116 5, 095,155 5, 002, 956 4,973,168 Averages of end of month figures Monthly averages of daily figures Month 1914 1915 1916 I 1917 1918 1919 1920 January... 3,496, 586 3, 285, 911 3,590,875 3,977,540 4, 306, 482 5, 050, 060 5, 230, 993 February- 3, 502, 363 3, 247, 285 3,597,965 \ 4,054,230 4, 280, 333 4, 931, 902 5, 285,197 March 3, 505, 701 3, 252, 786 3, 608,188 ! 4,146, 262 4, 373, 414 4, 941, 839 5, 398, 428 April. 3, 519, 229 3, 273, 843 3, 617,110 ! 4, 4, 422, 529 4, 970, 215 5,371,767 May 3, 531, 440 I3,300, 398 3, 603, 365 I 4, 225,153 4, 400, 914 4, 941,180 5, 413, 870 June 3,496,148 3, 318, 269 3,617,340 12 4,161,130 4,147, 540 4, 891, 072 5, 448, 004 July 3,426,472 \ 3, 321, 362 3,653,409 | 4,019,698 4, 519, 874 4,895, 527 5, 478, 485 August 3,467,463 | 3, 362, 697 3,697,156 13 4, 000, 915 4, 665, 633 4, 913, 022 5, 509,074 September. 3, 636, 707 ! 3,428, 786 3,779,270 • 3 4, 000,535 4,910, 572 4, 5, 599, 979 October 3,737,840 i 3,487,120 3,849,044 34,151,763 5,133, 585 5,106, 214 5,672,811 November. 3,577,011 I 3, 531, 627 3,876,681 3 4,203,491 5,183,177 5, 208, 249 5, 661,943 December. 3, 364, 658 3, 566, 810 3,921,630 j3 4, 341, 762 5, 243, 327 5, 341, 602 5, 657, 948 Monthly averages of daily figures Month 1921 1922 1923 1924 1925 1926 I 1927 1928 I January 5,400, 844 4, 527,113 4, 678, 839 4, 847,097 4,863,082 4, 890, 766 4, 903, 373 4, 784,806 February 5, 263,156 4,451,112 4, 672, 172 4,831, 590 4,805,607 4,854,080 4, 842, 545 4, 708,966 March.. 5, 203, 789 4, 483, 102 4, 713, 062 4, 870, 489 4, 821, 033 4, 864,166 4,856, 221 4, 709,613 April 5, 077, 860 4,481,854 4, 730, 995 4, 886, 311 4, 809, 246 4, 881, 896 4, 879, 341 4, 729, 600 May 5,041, 886 4, 450, 004 4, 764, 007 4,865,883 4,797,177 4, 871,035 4, 859, 532 4, 722,419 June.. 4, 936, 416 4,429, 253 4, 778, 732 4, 830, 265 4, 794,480 4,881, 317 4,830, 793 4,735,667 July.... 4, 857, 299 4, 443, 282 4,811,543 4, 809, 789 4, 797, 559 4,916, 380 4, 851, 410 4, 746, 290 August ... 4, 770,750 4,448,134 4,833, 271 4, 799, 567 4, 819, 351 4, 912, 369 4, 848, 610 4, 743,452 September... 4, 751, 599 4, 552,159 4, 900, 730 4,852, 571 4,907,881 4,968,626 4,917,420 4, 804, 267 October 4, 721, 382 4, 642, 683 4, 941, 474 4, 891, 317 4, 945,455 5,001, 406 4, 933, 869 4,836,484 November... 4, 673, 213 4, 671, 455 4, 953,008 4, 970,056 4,959, 729 5, 005, 378 4,936, 200 4, 860, 333 December 4, 718, 396 4, 827,164 5,070, 774 5,088,133 5,119,140 5,130, 680 5,048, 451 5, 008,161 2 Figures prior to June 21, 1917 (when legislation became effective changing reserve requirements of member banks), while comparable with one another, are not strictly comparable with those for succeeding dates; the transfer to the Federal reserve banks of that part of legal reserves of member banks formerly held in own vaults reduced the volume of money outside Treasury and Federal reserve banks (see note 1). The increasing membership of State banks in the Federal reserve system after June, 1917, had a similar effect upon the figures. 3 Monthly averages of daily figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
92 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 32.—UNITED STATES MONEY IN CIRCULATION, BY WEEKS, 1922-1928 I Averages of daily figures. In millions of dollars] Week e d n a d y i ) n — g (Satur- i M n l a c o ti i n o rc e n u y - Week e d n a d y in )— g (Satur- i M n l a c o t i i n r o c e n y u- Week e d n a d y in ) g - (Satur- - i M n l a c o t i i n r o c e n y u- 1922 1923 Jan.7__ 4,665 Jan. 6_ Jan. 5__ 5,018 Jan.14_ 4, 558 Jan.13. 4,706 Jan.12. 4,896 Jan. 21. 4,483 Jan. 20- 4,643 Jan.19. 4,806 Jan. 28. 4,438 Jan. 27. 4,619 Jan. 26_ 4,780 Feb. 4.. 4,440 Feb. 3... 4,631 Feb. 2... 4,781 Feb. 11. 4,438 Feb. 10- 4, 647 Feb. 9— 4,802 Feb. 18. 4,445 Feb. 17- 4,668 Feb. 16- 4,826 Feb. 25. 4,460 Feb. 24.. 4,693 Feb. 23- 4,846 Mar. 4... 4,490 Mar. 3-. 4,716 Mar. 1__ 4,869 Mar. 11- 4,490 Mar. 10. 4,715 Mar. 8_. 4,875 Mar. 18_. 4,480 Mar. 17. 4,707 Mar. 15- 4,869 Mar. 25.. 4,477 Mar. 24. 4,705 Mar. 22. 4.862 Mar. 31. 4,720 Mar. 29. 4,867 Apr. l._. 4,479 Apr. 7-.. 4,736 Apr. 5__. 4,897 Apr. 8-_ 4,500 Apr. 14.. 4,729 Apr. 12-. 4,898 Apr. 15. 4,497 Apr. 21.. 4,725 Apr. 19- 4,895 Apr. 22- 4,476 Apr. 28- 4,727 Apr. 26-. 4,871 Apr. 29. 4,454 May 6 4,472 May 5.. 4,759 May 3 4, 871 May 13 4,461 May 12. 4,761 May 10 4.875 May 20 4,442 May 19- 4,759 May 17 4,860 May 27 4,429 May 26. 4,758 May24 _ 4,849 May 31 4,872 June3__ 4,454 June 2,.. 4,795 June 7 4,870 June 10_ 4,442 I June 9__ 4,793 June 14 4,832 June 17_ 4,416 June 16. 4.770 June 21 4,810 June 24_ 4,419 June 23 _ 4,763 June 28 4,806 June 30- 4,778 July l._ 4,433 July 7-. 4,859 July 5-. 4,880 July 8__ 4,496 July 14-. 4,829 July 12- 4,858 July 15. 4,452 July 21. 4,791 July 19.. 4,792 July 22. 4,419 July 28.. 4,777 July 26.. 4,758 July 29. 4,407 Aug. 5__. 4,427 Aug. 4.. 4,793 Aug. 2-_. 4,761 Aug. 12.. 4,439 Aug. 11- 4,834 Aug. 9-.. 4,784 Aug. 19-. 4,447 Aug. 18. 4,843 Aug. 16_. 4,793 Aug. 26.. 4,459 Aug. 25. 4,833 Aug. 23.. 4,799 Aug. 30.. 4,820 Sept. 2__ 4,480 Sept. 1.- 4,851 Sept. 6-_ 4,866 Sept. 9_- 4,541 Sept. 8._ 4,899 Sept. 13. 4,854 Sept. 16. 4,545 Sept. 15_ 4,900 Sept. 20. 4,843 Sept. 23_ 4.555 Sept. 22. 4,891 Sept. 27. 4,844 Sept. 30. 4,579 Sept. 29. 4,908 Oct. 7_. 4,622 Oct. 6_ 4,942 Oct. 4__. 4,875 Oct. 14. 4,660 Oct. 13_. 4,959 Oct. 11 4,885 Oct. 21. 4,654 Oct. 20_ 4,945 Oct. 18.. 4,898 Oct. 28. 4,634 Oct. 27_ 4,927 Oct. 25_. 4.887 Nov. 4... 4,650 Nov. 3. 4,939 Nov. 1-. 4,907 Nov. 11- 4,681 Nov. 10. 4,960 Nov. 8__ 4,956 Nov. 18- 4,674 Nov. 17. 4,952 Nov. 15. 4,964 Nov. 25_. 4,659 Nov. 24. 4,936 Nov. 22. 4,958 Nov. 29. 4,995 Dec. 2.. 4,708 Dec. 1... 4,976 Dec. 6... 5, 024 Dec. 9__ 4,761 Dec. 8— 5,010 Dec. 13.. 5,043 Dec. 16- 4,794 Dec. 15.. 5,036 Dec. 20.. 5, 097 Dec. 23. 4,894 Dec. 22_. 5,117 Dec. 27.. 5,181 Dec. 30. 4,880 Dec. 29.. 5,134 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
93 MONEY IN CIRCULATION No. 32.—UNITED STATES MONEY IN CIRCULATION, BY WEEKS, 1922-1928—- Continued [Averages of daily figures. In millions of dollars] W (S e a e tu k r d en ay d ) i — ng c M u in l o a c n ti i e o r- y n W (S e a e tu k r d e a n y d ) i — ng c M i u n l o a c n ti i e r o - y n W (S e a e tu k r d en ay d ) i — ng c M u in l o a c n t i i e r o y - n W (S e a e tu k rd en ay d ) i — ng c M u in l a o c t n i i r o e - y n 1925 1926 1927 1928 Jan.3- 5,073 Jan. 2 5,139 Jan.1 5,141 Jan.7 4,951 Jan.10.. 4,954 Jan.9 4,998 Jan.8 5,023 Jan.14 4,811 Jan.17.. 4,846 Jan. 16 4,872 Jan. 15.,_. 4,908 Jan. 21 4.729 Jan. 24.. 4,795 Jan. 23.-. 4,828 Jan. 22.... 4,850 Jan. 28..- 4,690 Jan.31.. 4.778 Jan.30 4,815 Jan. 29.... 4,823 Feb. 7... 4,791 Feb. 6 4,833 Feb. 5... 4,831 Feb. 4___. 4,696 Feb. 14.. 4,809 Feb. 13.... 4,851 Feb. 12.. 4,836 Feb. 11.. 4,708 Feb. 21.. 4,801 Feb. 20 I 4,852 Feb. 19_. 4,832 Feb. 18.. 4,710 Feb. 28.. 4,821 Feb. 27 ..-! 4,871Feb. 26_. 4,859 Feb. 25.. 4,714 Mar. 7_. 4,844 Mar. 6.- 4,886 Mar. 5-. 4,875 Mar. 3__ 4,719 Mar. 14. 4,827 Mar. 13. 4,867 Mar. 12. 4,861 Mar. 10. 4,718 Mar. 21- 4,812 Mar. 20. 4,861 Mar. 19. 4,852 Mar. 17. 4,705 Mar 28- 4,803 Mar. 27. 4,852 Mar. 26. 4,848 Mar. 24. 4,699 Mar. 31. 4,705 Apr. 4... 4,825 Apr. 3... 4,878 Apr. 2... 4,866 Apr. 7... 4,751 Apr. 11.. 4,833 Apr. 10- 4,885 Apr. 9__. 4,893 Apr. 14.. 4,735 Apr. 18.. 4,814 Apr. 17.. 4,887 Apr. 16.. 4,894 Apr. 21. 4,718 Apr. 25- 4,789 Apr. 24.. 4,874 Apr. 23.. 4,869 Apr. 28_ 4,710 Apr. 30.. 4,855 May 2__ 4,792 May 1__ 4,875 May7._ 4,870 May 5__ 4,738 May 9__ 4,805 May S.- 4,881 May 14 _ 4,861 May 12. 4,726 May 16. 4,789 May 15_ 4,866 May 21 _ 4,850 May 19 _ 4,717 May 23_ 4,781 May 22_ 4,852 May 28 _ 4,846 May 26_ 4,709 May 30. 4,803 May 29_ 4,867 June 6 4,824 June 5 4,913 June 4 I 4,8 June 2__ 4,742 June 13 4,801 June 12 4,884 June 11 4,843 June 9_. 4,737 June 20 4,782 June 19 4,873 June 18 4,823 June 16. 4,728 June 27 4,774 June 26 4,867 June 25 4,808 June 23. 4,727 June 30. 4,740 July4._. 4,832 July 3- 4,918 July 2 4,848 July 7-. 4,816 July 11- 4,836 July 10.. 4,971 July 9 4,911 July 14.. 4,769 July 18.. 4,790 July 17.. 4,913 July 16 4,845 June 21. 4,720 July 25.. 4, 765 July 24_ _ 4,880 July 23 4,819 July 28.. 4, 696 July 31- 4,881 July 30 4,812 Aug. 1_- 4,767 Aug. 7-_ 4,900 Aug. 6__. 4,838 Aug. 4__. 4,714 Aug. 8__ 4,797 Aug. 14 _ 4,913 Aug. 13 _. 4,843 Aug. 11 _. 4,733 Aug. 15_ 4, 810 Aug. 21 _ 4,914 Aug. 20 _. 4, 851 Aug. 18_. 4,744 Aug. 22_ 4,824 Aug. 28_ 4,915 Aug. 27 _. 4, 854 Aug. 25_. 4, 752 Aug. 29. 4,838 Sept. 3.. 4,885 Sept. 1_- 4, 769 Sept. 5 4,870 Sept. 4 4,944 Sept. 10.. 4,935 Sept. 8... 4,818 Sept. 12 4,915 Sept. 11 4,988 Sept. 17. 4,916 Sept. 15. 4,797 Sept. 19-__ -_ 4,917 Sept. 18 4,970 Sept. 24- 4,909 Sept. 22. 4,789 Sept. 26 4,910 Sept. 25 4,958 Oct. 1 4,917 Sept. 29_ 4, 806 Oct. 3__ 4,936 Oct. 2... 4,983 Oct. 8 4,942 Oct. 6__- 4,836 Oct. 10_. 4,959 Oct. 9__. 5,005 Oct. 15 4,951 Oct. 13__ 4,852 Oct. 17- 4,956 Oct. 16.. 5,015 Oct. 22 4,929 Oct. 20- 4,846 Oct. 24. 4,932 Oct. 23_. 4,989 Oct. 29 4, 909 Oct. 27__ 4,824 Oct. 31_. Oct. 30.. 4,988 Nov. 5-. *4,930 Nov. 3_- 4,834 Nov. 7 4,956 Nov. 6 5,016 Nov. 12- 4,949 Nov. 10. 4,865 Nov. 14 4,950 Nov. 13 5,002 Nov. 19. 4,926 Nov. 17. 4, 852 Nov. 21 4,939 Nov. 20 4,985 Nov. 26. 4,934 ! Nov. 24. 4, 835 Nov. 28 4,975 Nov. 27 5,008 Dec. 3 4,956 Dec. 1... 4,908 Dec. 5 5,016 Dec. 4__. 5,038 Dec. 10 4,997 Dec. S.- 4,947 Dec. 12 5, 055 Dec. 11.. 5,082 Dec. 17 5,033 Dec. 15-. 4,968 Dec. 19 5,119 Dec. 18.. 5,126 Dec. 24 5,120 Dec. 22-. 5,060 Dec. 26 5,235 Dec. 25. 5,221 Dec. 31 5,075 Dec. 29.. 5,074 *Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 33.—KINDS OF MONEY IN CIRCULATION, 1926-1928 CD [In thousands of dollars] End of month Total G c o oi l n d G ti o fi l c d a c te e s r- S d t s a o i n l l v l d a e a r r s r d c S c e i a r lv t t i e e f s i r - T n r o e 1 t a 8 e s 9 s u 0 o ry f S s u i a b l r v s y e id r i- M c i o n i o n r U S n n t o i a t t t e e e s s d F r n e e s o d e t e r e r v s a e l F r n e b e s o d a e t e n e r r k v s a e l Na n b t o a i t o n e k n s al- 1928—January 4, 841, 088 402,687 1,036,902 52, 721 372,345 1,371 265,959 102,476 289,963 1,672,195 5,890 638,578 February.-. 4, 903, 627 399,862 1,084, 374 52,218 371, 623 1,369 265,809 102, 677 295.109 1, 672, 022 5,804 652, 761 March 4, 859,825 396,929 1, 089, 573 51, 752 367,778 1,367 267, 270 103, 014 291, 658 1, 639, 225 5,715 645, 542 April. 4, 907, 096 395, 032 1,102, 782 51,465 367,891 1,364 267, 055 103, 323 294.915 1,662,607 5,640 655, 023 May 4,923,181 393, 323 1, 076, 242 51, 258 374, 470 1,359 268, 249 103, 694 294, 505 1, 693,813 5,549 660, 720 June 4, 885, 266 391, 703 1,057,371 51, 577 377, 741 1, 356 270, 072 104,194 294.916 1, 679,407 5,453 651, 477 July 4,909,186 390,915 1, 072,374 51, 513 384,134 1,354 269, 868 104, 442 295, 977 1,679,381 5,289 653, 939 August 4, 930, 233 389,177 1, 086,132 51, 633 385, 598 1,352 271,641 104, 971 300, 735 1, 684, 429 5,211 649, 353 September.. 4, 978, 221 388, 049 1,100,551 51,847 391, 494 1,349 275, 504 105, 919 302, 277 1, 709,173 5,124 646,935 October 5. 021, 411 389, 205 1,101,462 51, 623 393,179 1,347 277, 021 106, 464 307,199 1, 737,363 5,127 651,421 November.. 5, 036, 980 388, 831 1, 095, 622 51, 849 391.158 1,344 279,876 107, 913 303,172 1, 764,653 5,054 647, 509 December.. 5,095,155 j 408, 681 1, 092, 039 51,633 396, 752 1,340 281, 398 108,179 296, 810 1,824,459 4,967 628,896 1927—January 4,845, 755 396,436 1, 037, 264 49, 678 374,836 1,336 272,163 106, 880 287, 672 1, 683,878 4,902 630, 710 February... 4,884, 768 393,317 1, 034, 647 49.187 376,839 1,335 271, 251 106, 571 291, 588 1, 709, 816 4,848 645, 369 March 4,861,706 389, 926 1.019, 437 48, 726 372, 854 1,333 271,970 106, 836 290, 761 1, 706,684 4,781 648, 399 April 4,890, 607 388, 742 1,019,372 48, 396 377,139 1,331 272,804 107, 034 292,829 1, 724, 368 4,718 653,875 May 4,892, 667 386, 560 1, 003, 792 48, 707 379, 505 1,329 274,527 107, 531 292.888 1, 733, 647 4,673 659, 507 June.. 4,851, 322 384,957 1, 007, 075 48, 717 375, 798 1,327 275, 605 108,132 292, 205 1, 702, 843 4,606 650, 057 July 4,845, 782 382, 674 1, 031,188 48, 626 377,653 1,325 274, 950 108,130 296, 625 1, 667, 777 4,536 652, 300 August 4,853. 773 381, 551 1, 045, 241 48, 321 378, 913 1,323 277, 331 108, 891 299, 268 1, 657, 305 4,477 651,151 September.. 4,948, 462 380,476 1, 061,478 48, 022 390,335 1,321 280,128 109, 566 304, 294 1, 715, 073 4,420 653, 350 October 4, 945, 772 381,045 1, 068,301 48, 642 392, 296 1,319 281, 600 110, 001 298,493 1, 711, 227 4,358 648, 492 November.. 4, 951, 972 382, 647 1,094, 767 48, 812 392, 299 1,318 285, 058 111, 249 298,116 1, 694, 354 4,323 639,029 Deceniber.. 5, 002, 956 402, 087 1, 073, 735 48, 775 400, 269 1,315 285, 602 111,771 292.889 1, 762, 794 4,282 619,439 1928—January 4, 677, 055 389, 364 1, 015,888 46, 764 372,485 1,312 276,105 109, 727 283,119 1, 560, 763 4,237 617, 290 February... 4, 690, 430 385, 856 1, 003, 880 46, 412 368,938 1,311 275,101 109, 640 286,187 1, 570,063 4,178 638, 866 March _ 4, 748,934 383,116 1,024, 875 46.188 372, 709 1,308 274,544 109, 922 290, 046 1, 588, 391 4,138 653, 696 April 4, 748,458 381, 203 1.020, 267 46,154 377,946 1,306 276,089 110,306 293,119 1, 585, 904 4,096 652, 068 May 4, 744, 074 379, 684 1, 013,139 46, 228 379,604 1,305 277,404 110,921 296,189 1, 586, 975 4,072 648, 552 June 4, 796, 621 377,017 1, 019,149 46, 223 384,577 1,304 278,174 111,067 298, 438 1, 626,433 4,029 650, 212 July 4, 700, 535 374, 980 977, 077 46, 082 384.159 1,301 279, 072 111,400 293, 235 1, 592,137 3,985 637,109 August 4, 802,820 373, 558 981, 785 46, 241 391, 047 1,300 280, 661 111,937 300, 563 1, 662, 249 3,948 649, 532 September.. 4, 846,198 372,909 977, 673 46,411 397, 589 1,298 283, 296 112, 431 303.110 1, 698,908 3, 916 648, 656 October 4, 806, 230 373, 202 959, 652 46, 299 394,328 1,296 285, 350 113, 427 300, 659 1, 689,171 3,880 638, 965 November.. 4, 990,114 374, 306 1,030, 546 46, 342 404, 860 1,295 288, 002 114, 641 306,015 1, 770,184 3,848 650, 077 December.. 4, 973,168 395, 310 46, 475 410, 334 1,294 291, 314 115,613 294,199 1,808, 053 3,820 615, 761 Back figures—See Annual Report for 1927 (Table 22) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DISCOUNT RATES AND MONEY RATES 95 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DISCOUNT RATES AND MONEY RATES No. 34.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES AND MATURITIES OF DISCOUNTED BILLS—CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1928 [Per cent] Federal Reserve Bank Date effective B to o n s- Y N o ew rk P p d h h e i l i l - a a-C la le n v d e- m R o ic n h d - la A n t t - a C ca h g i- o L S o t u . isa M p n o e in - li - s K C s a a it n s y - D la a s l- F C S r i a s a c n n o * In effect Jan. 1, 1922.... 4K 5 5 5 5 5 * 5 5 1922—Jan. 9 5 Jan 11 5 Jan. 23 4H Feb. 14 4V£ Mar. 15 4V£ Mar 25 Apr. 6 4V<? Apr. 14 41/ June 22 4 June 23 4 July 8 4 July 12 4M Aug 12 Aug 15 I 1 1923—Feb. 23.. 41/ Mar. 6 1924—May 1 4 June2._ 4 June 10 4 June 12 VA 3H June 14 __. 4 4 June 18 4 June 19 2 giz 4 June 26 VA July 1 4 July 16 4 Aug. 8 3 Aug. 15 VA Aug. 25 Oct. 15 4 1925—Feb. 27 VA Nov. 10 4 Nov. 17.. 4 Nov. 20 4 Nov. 23 4 1926—Jan. 8 4 Apr. 23___ Aug. 13. 4 1927—July 29 VA Aug. 4 VA Aug. 5 __. VA Aug. 6 2 VA Aug. 12 V/ Aug. 13 VA Aug. 16 V/ Sept. 7 VA. Sept. 8-._ VA Sept. 10 3M Sept. 13... __. VA 1 5 per 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. 12; San Francisco, Mar. 21. Back figures.—For years previous to 1922, when different rates were generally in effect for different classes of bills, see Annual Reports, Federal Reserve Bulletin, and pamphlet issued by the board in 1922: "Discount Rates of the Federal Reserve Banks, 1914-1921." 97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
98 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 34.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES AND MATURITIES OF DISCOUNTED BILLS—CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1928—Continued. ;Per cent] Federal Reserve Bank Date effective B to o n s- Y N o e r w k P p d h h e il l i a - a - C la le n v d e- m R o ic n h d - la A n t t - a C ca h g i o - L S o t u . is a M p n o i e n l - i - s K C s a a it n s y - D la a s l- F c S i r s a a c n n o - 1928—Jan. 25. 4 Jan. 27 4 Feb. 3 4 Feb. 4 4 Feb. 7 4 Feb. 8 4 4 Feb. 10 4 Feb. 11 4 Feb. 16 4 Feb. 21 _ 4 Mar. 1 . 4 Apr. 20 4H 4HI Apr. 23 4H Apr. 24 4H Apr. 25 1 1}^ May 7 43^ May 17 4H May 18 _ _ 4M May 25 4H May 26 4H June 2 June 7 4H July 11 5 July 13 5 5 i July 14 5 July 19 e 5 July 26 ._ 5 _ Aug. 1 _. 5 ::::_•:::::: In effect Dec. 31, 1928__ 5 5 5 5 5 5 5 5 4M 4H 4M 4H Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
99 DISCOUNT RATES AND MONEY RATES No. 35.—FEDERAL RESERVE BANK BUYING RATES ON ACCEPTANCES J— CHANGES FROM JANUARY 1, 1919, TO DECEMBER 31, 1928 [Buying rates at the Federal Reserve Bank of New York. Per cent I 1 to 15 16 to 30 31 to 45 46 to 60 61 to 90 i 61 to 12,'21 to 180 Date effective days days days days days days days In effect Jan. 1, 1919. 4MI- 1919—Nov. 5_. Nov. 26.. Dec. 4_. 4i Dec. 23.. Dec. 30.. 1920—Jan. 6_ Jan. 20_ Jan. 23 _ Jan. 27.. Feb. 27_ May 5_ May 13.. June 1_. Sept. 1_ 1921—Jan. 3_ June 15. July 21 _ Aug. 8. Sept. 26. 5 I Oct. 4_ 4%i Oct. 13_ Nov. 3. Nov. 16. Nov. 28. Dec. 8_ 4M! 4M Dec. 27_ 1922-Feb. 6... 434 Feb. 16.. 4 I. Mar. 6__. Mar. 13. Mar. 21.. Mar. 27.. Apr. 10.. Apr. 14.. May 5... May 18.. June 2__. 3M June 19.. June 26.. July5__. July 15_. July 25 _. Sept. 21.. Sept. 25. Sept. 27.. Oct. 2... Oct. 6._. "zli Oct. 13. _ Oct. 18.. Oct. 19. _ Oct. 24. _ Oct. 27_. 1923—Apr. 17.. May 23.. July7__. 1924—Apr. 24.. May 1... May 16_. May 22_. June 2__. June 17.. June 26 _. 2H\ 2M A N u o g v . . 8 1 . 7 . . . . 2 | 2 2 H H Nov. 28.. Dec. 3... Dec. 5... 2}4 Dec. 8._. 2M! Dec. 22.. i" 1 Kates on prime bankers' acceptances. Higher rates may be charged for other classes of bills. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
100 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 35.—FEDERAL RESERVE BANK BUYING RATES ON ACCEPTANCES—• CHANGES FROM JANUARY 1, 1919, TO DECEMBER 31, 1928—Continued [Buying rates at the Federal Reserve Bank of New York. Per cent] Date effective 1 d a to ys 15 16 d a to ys 30 31 d a to ys 45 46 d a to ys 60 61 d a t y o s 9091 d t a o y s 12012 d 1 a t y o s 180 1925— Feb. 6... 3 Feb. 27... 3H June 12— Adgi, M^. Sept. 22- 1926—Jan. 8—. Apr. 27- May 20_. May 21.. Aug. 16- Aug. 23.. Sept. 1-. 1927—July 29.. Aug. 5... Aug. 22.. 3 1928—Jan. 27.. l\l Feb. 3... Mar. 30_. 3' Apr. 13.. 3 &A May 18.. 4 4 July 13.. 4!_ July 26-. 43^ In effect Dec. 31, 1928.. 4H 4H No. 36.—AVERAGE RATES CHARGED BY FEDERAL RESERVE BANKS ON BILLS DISCOUNTED AND BILLS BOUGHT, 1918-1928 [Per cent] Month 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 Bills discounted: January ._ 4.02 4.18 4.90 6.36 4.84 4.25 4.50 3.53 3.97 4.00 3.52 February - . . 4.02 4.14 5.52 6.36 4.77 4.28 4.50 3.44 4.00 4.00 3.84 March 4.08 4.15 5.64 6.43 4.70 4.49 4.50 3.68 4 00 4 00 4 00 April 4.23 4.18 5.67 6.33 4.60 4.50 4.50 3.73 3.96 4.00 4.05 May ._ 4.35 4.16 5.74 6.20 4.59 4.50 4.42 3.71 3.87 4.00 4.28 June. . 4.42 4.19 6.20 6.14 4.54 4.50 4.16 3.69 3.89 4.00 4.50 July 4.37 4. 14 6.21 6.02 4.39 4.50 3. 89 3.68 3.84 4.00 4.69 August 4.25 4.12 6.19 5.76 4.34 4.50 3.78 3.70 3.94 3.72 4.92 September ... -._ 4.24 4.18 6.39 5.75 4.36 4.50 3.69 3.70 4.00 3.53 4.93 October 4.21 4.19 6.40 5.62 4.34 4.50 3.65 3.69 4.00 3.50 4.91 November 4.20 4.53 6.45 5.03 4.29 4.50 3.63 3.77 4.00 3.50 4.92 December . __ ._.4.18 4.67 6.49 4.91 4.30 4.50 3.56 3.86 4.00 3.50 4.94 Year 4.26 4.26 6.02 6.01 4.52 4.47 4.20 3.70 3.96 3.81 4.56 Bills bought: January 4.28 5.10 6.05 4.28 4.09 4.18 3.01 3.60 3.65 3.26 February 4.24 5. 53 6.01 4.21 4.08 4.16 3.08 3 64 3 64 3 45 March 4.24 5.80 6.01 3.92 4.09 4.16 3. 18 3.61 3.63 3.49 April 4.24 5.82 5.94 3.48 4.12 4.14 3. 16 3.60 3.61 3.72 May 4.24 5.96 5.88 3.28 4.16 3.48 3.16 3.37 3.61 3.87 June 4.24 6.07 5.88 3.22 4.18 3.15 3. 19 3. 35 3.63 4.08 July 4.25 6.06 5.70 3.13 4.20 2.35 3.24 3.39 3.60 4.26 August 4.25 6.04 5.31 3.10 4.20 2.25 3.26 3.47 3.22 4.62 September 4.25 6.04 5.35 3.19 4.21 2.23 3.42 3.77 3.12 4.57 October 4.26 6.05 4.97 3.68 4.21 2.20 3.43 3.78 3.19 4.57 November 4.47 6 45 4.60 4. 10 4.19 2.32 3.43 3.76 3.19 4.56 December 4.84 6.08 4.41 4.11 4.18 2.79 3.42 3.75 3.16 4.58 Year 4.36 5.85 5.49 3.59 4.16 3.08 3.26 3.60 3.40 4.10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
101 DISCOUNT RATES AND MONEY KATES o- 37.—AVERAGE RATES EARNED BY FEDERAL RESERVE BANKS ON BILLS AND SECURITIES, 1916-1928 [Per cent] Month 1918 1919 1920 1921 1922 1923 1924 ! 1925 1926 Total bills and I curities: January 2. 85 2.90 3.75 4.04 4.46 5. 88 4. 62 4.03 4.39 3.27 3.73 3.80 3.36 February 2.70 3.03 3.81 4.03 4.88 5. 92 4. 47 4.13 4.36 3.32 3. SO 3.76 3.52 March 2.26 3.14 3.86 4.02 5.12 5.90 4. 34 4.26 4.30 3.41 3.80 3.75 3.63 April 2,50 2.83 4.07 4.01 5.23 5.85 4.25 4.32 4.34 3.49 3.81 3.75 3.74 May 2.47 2.93 4.29 3.99 5.36 5.79 4.08 4.35 4.26 3.50 3.72 3.78 3.96 June 2.53 3. 08 4.20 4.01 5.51 5.67 3.98 4.36 4.03 3.50 3.66 3.72 4.24 July 2.62 3.34 4.31 3.98 5.72 5.60 3.90 4.42 3.80 3.65 3.73 4.39 August 2.69 3.37 4.27 3.93 5.81 5.42 3.85 4.42 3.67 3." 55 3.67 3.58 4.63 September.. 2.78 3.41 4.21 3.91 5.81 5.35 3.84 4.41 3.45 3.56 3.77 3.45 4.67 October 2.79 !3.37 4.13 3.95 5.94 5.25 3.88 4.44 3.30 3.59 3.83 3.39 4.69 November.. 2.72 ! 3.37 4.19 4.16 5.98 4.99 4.00 4.40 3.21 3.61 3.84 3.33 4.68 December.. 2.83 3.53 4.14 4.29 5.98 4.74 4.06 4.38 3.17 3.68 3.83 3.34 4.70 Year_. 2.67 3.29 4.12 I 4. 04 5.50 5.61 | 4.11 4.33 i 3.S 3.51 3.76 3.60 4. 24 Bills discounted: January 4.18 4.01 3.94 4.21 4.71 6.30 4. 99 I 4. 26 [ 4. 50 i3.55 3.91 4.00 3.50 PTebruary 4.15 4.02 4.02 4.18 5.20 6.37 4.90 4.24 i 4. 50 3.42 3.99 4.00 3.77 March 4.21 4.14 3.94 4.16 5.47 6.36 4.83 4.45 ! 4.50 3.60 4.00 4.00 3.95 April 4.17 3.92 4.14 4.16 5.58 6.32 4.75 4.49 ! 4.50 3.66 3.98 4.00 4.01 May 4.24 3.82 4.38 4.15 5.66 6.29 4.68 4.50 j 4.45 3.69 3.87 4.00 4.20 June 4.36 3.49 4.31 4.20 5.89 6.20 4.61 4.50 | 4.35 3.69 3.88 4.00 4.45 July 4.24 3.82 4.40 4.15 6.13 6.09 4.50 4.50 4. 11 3.68 3.85 4.00 4.60 August 4.31 3.77 4.35 4.13 6.19 5.91 4.47 4.50 I 3.99 3. 68 3.91 3.83 4.87 September.. 4.43 3.79 4.27 4.17 6.22 5.85 4.42 4.50 3.85 3.66 3.99 3.62 4.90 October 4.35 3.47 4.22 4.15 6.35 5.69 4.36 4.50 3.75 3.66 4.00 3.52 4.92 November.. 4.08 3.42 4.27 4.40 6.41 5.39 4.29 4.50 3.69 3.71 4.00 3.51 4.92 December.. 3.81 3.65 4.29 4. 55 6.42 5.11 4.29 4.50 3.59 3.84 4.00 3.51 4.93 Year.. 4.20 3.61 4.24 4.23 5.88 I 6. 07 | 4.634.46 I 4.25 | 3.67 3.95 3.83 4.56 Bills bought: January.. 2.09 2.80 3.64 4.29 4.79 6.14 4.44 4.01 4.20 ; 2.70 3.46 3.73 3.21 February. 2.07 3.02 3.79 4.25 5.06 5.99 4.25 4.09 4.18 i 2.88 3.55 3.70 3.28 March 2.04 3.19 3.92 4.26 5.47 6.01 4.06 4.10 4.17 3.06 3.61 3.68 3.38 April 2.04 3.10 4.18 4.23 5.70 5.97 3.83 4.08 4.17 3.13 3.63 3.67 3.52 May 2.07 3.15 4.36 4.25 5.77 5.98 3.50 4.11 4.05 3.16 3.52 3.65 3.72 June 2.14 3.16 4.25 4.19 5.98 5.97 3.29 4.14 3.66 3.17 3.37 3.66 3.84 July 2.21 3.23 4.24 4.27 6.07 5.96 3.18 4.18 2.80 3.19 3.33 3.67 4.01 August 2.31 3.19 4.38 4.22 6.07 5.36 3.11 4.19 2.49 3.24 3.32 3.51 4.34 September.. 2.46 3.35 4.19 4.27 6.06 5. 33 | 3.11 4.19 i 2.22 3.32 3. 50 3.31 4.50 October 2.12 3.40 4.25 4. 22 6.07 5.04 J 3.24 4.19 | 2.20 3.37 3.67 3.19 4.56 November.. 2.52 3.53 4.36 4.33 6.03 4. 91 I 3. 59 4.18 2.23 3.40 3.75 3.19 4.56 December.. 2.71 3.43 4.33 4.54 6.05 4.50 i 3.84 4. 20 !2.46 3.43 3.76 3.20 4.56 Year 2.36 3. 26 4, 14 4.30 5.66 5.70 3.54 4.14 3.31 I 3.17 3.55 3.49 3.97 United States securities: January 2.14 2.64 3.27 2.26 2.18 2.13 3.16 3.74 4. 26 ! 3. 51 3.69 3.55 3.35 February 2.33 2.67 3.25 2.31 2.17 2.11 3. 58 3.96 4.17 I 3. 59 3.71 3.53 3.44 March 2.14 2.66 3.59 2.41 2.10 2.24 3.72 3.99 4.04 < 3.503.60 3.49 3.44 April 2.34 2.36 3.56 2.43 2.10 2.15 3.77 4.11 4.14 I 3. 58 3.65 3.48 3.46 May 2.26 2.41 3.06 2.42 2.22 2.49 3.70 4.17 I 4.05 3.57 3.61 3.54 3.53 June 2.29 2.39 3.00 2.33 2.24 2.40 3.67 4.02 I 3.79 3.53 3.56 3.46 3.68 July 2.38 2.67 2.76 2.24 2.15 2.31 3.63 4.17 i 3.68 3.54 3.55 3.43 3,67 August 2.36 2.71 2.87 2.21 2.22 2.33 3.60 4.15 ! 3.57 3.54 3.52 3.37 3.69 September 2.38 2.75 2.73 2.17 2.27 2.49 3.65 4.07 3.46 I 3.55 3.53 3.37 3.83 October 2.47 3.06 2.44 2.18 2.20 2.38 3.71 4.21 3.44 1 3.62 3.62 3.38 3.94 November 2.44 2.86 2.49 2.22 2.17 2.68 3.78 4.18 3.46 | 3.62 3.61 3.27 4.05 December 2.38 2.98 2.40 2.19 2.43 2.92 3.79 4.03 3.39 3.63 3.55 3.28 4.05 Year 2.35 2.68 2.99 2.26 2.21 I 2.37 3.67 4.01 3. 67 i 3. 56 3.41 3.64 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
102 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 38.—AVERAGE RATES CHARGED BY MEMBER BANKS ON CUSTOMERS' PAPER REDISCOTTNTED WITH FEDERAL RESERVE BANKS, 1921-1928 [Per cent] Federal reserve district Month of redis- All counting tricts I B to o n s - i I N Y e o w rk : a p d h e i l a - C la le n v d e- m R o ic n h d - la A n t t - a c C a h g i o - L S o t u . is M n o e l i a i n s p - - K C s a i a t n s y - D la a s l- F c S i r s a a c n n o - BANKS IN SMALL CITIES AND TOWNS (UNDER 15,000) 1921—December 8.0 6.2 6.1 6.0 6.3 ! 6.9 7.9 7.5 8.0 8.7 8.9 9.7 1922—December 7. 7 5.8 . 5.7 i 5.9 6.2 6.7 7.9 7.5 7.8 9.0 8.8 9.8 1923—June j 6.0 6.0 i 6.0 6.2 6.4 7.8 7.3 8.0 9.0 8.7 9.6 December i 6.0 5.9 6.0 6.1 : 6.3 7.7 7.4 7.7 8.9 8.6 9.7 1924—June i 7.6 6.1 6.0 i 6.0 6.2 1 6.4 7.8 7.3 8.0 8.8 8.9 9.6 December j 7.1 6.0 5.6 5.9 6.2 ; 6.3 7.7 7.4 7.4 8.6 8.6 9.8 •| 1925—June .| 7.3 6.0 5.8 ! 6.0 6.2 ; 6.3 7.7 7.2 8.0 8.6 9.0 9.4 December \ 6.9 5.8 6.0 ; 6.0 ; 6. 3 6.3 7.5 7.3 7.7 8.2 8.3 8.3 1926—June | 7.2 5.9 5.9 5.9 : 6.2 1 6.2 7.8 7.1 7.8 8.7 8.7 9.3 December i 7.0 5.9 5.8 : 6.0 ; 6.0 ! 6.4 7.7 7.1 7.9 8.2 8.1 9.1 1927—June 7.2 5.8 ! 6.0 i 6.0 6.4 ! 6.3 7.8 7.0 8.1 8.7 8.6 9.6 December 6.9 5.8 ! 6.0 ; 6.0 ; 6.0 ' 6.2 7. Q 7.1 8.3 8.4 8.9 1928—June 7.0 5.8 5.9 5.9 6.2 6.1 7. '< 6.3 7. 7 8.4 8.8 9.3 BANKS IN MEDIUM-SIZE CITIES (15,000 TO 100,000) 1921—December...—; 7.2 6.1 6.0 6.0 6.4 6.8 7.5 7.1 7.6 8.9 7.3 8.3 1922—December j 6.4 5.5 i 6.0 6.0 6.1 6.2 7.0 6.3 6.6 7.4 6.4 8.6 1923—June ...J 6.4 5.4 6.0 ! 6.0 6.1 6.1 7.1 5.9 5.6 7.0 8.1 December | 6.3 5.6 5.9 6.0 6.1 6.1 6.8 6.2 6.5 7.1 8.3 1924—June I 6.3 5.7 i 5.8 6.0 6. 0 j 6.1 6.9 7.3 7.0 7.5 December. I 6.2 5.1 I 5.7 6.0 6.1 ! 6.1 6.6 6.2 7.1 1925—June 6.1 5.0 I 5.6 6.0 6.1 6.1 5.9 7.1 8.0 7.8 December 6.0 5.2 I 5.8 6.0 6.1 6.2 5.8 6.0 8.6 1926—June i 6.2 5.6 5.9 i 6.0 6.1 6.0 7.0 6.0 6.4 7.0 6.7 6.6 December...... < 6.0 5. 7 5.8 j 6.0 6.1 6.1 6.0 6.5 5.5 1927-June I 6.1 5.6 5.8 6.0 6.0 6.2 5.8 7.7 6.1 7.2 December j 5.8 5.6 5.8 i 6.0 6.0 6.0 6.7 5.0 6.2 8.8 7.4 1928—June ! 6.2 5.6 ! 5.i 6.0 6.1 5.9 6.2 ! 7.4 6.3 BANKS IN LARGE CITIES (100,000 AND OVER) [ 1921—December... _. 6.1 6.1 i 6.0 6.0 ! 6.3 6.1 7.1 6.4 6.4 6.8 7.2 7.6 6.1 1922—December 5.1 4.8 4.9 5. 0 j 5. 6 5.9 5.8 5.0 5.3 5.7 6. 3 6.3 5.2 1923—June_ __ 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 December 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 1924—June 5.6 5.3 1 5.7 5.4 1 5.4 6.0 5.8 5.5 5.3 6.0 6.7 6.5 5.7 December 4.9 ! 5.3 5.3 ' 5.7 6.0 5.7 4.9 4.9 6.0 6.2 6.6 ! 1925—June 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 December...... 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 1926—June 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 December 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 1927—June 5 0 5 4 i 5. 9 56 5.6 6.0 6.0 4.6 4.6 6.1 5.9 December 5 0 43 45 5 5' 5.6 6.0 5.8 4.7 4. 5 7.3 6.5 1928—June 5.3 4.6 : 4.8 5.4 ; 5.6 5.7 5.8 4.8 5.4 5.3 6.8 6.8 6.1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DISCOUNT RATES AND MONEY KATES 103 No. 39.—OPEN MARKET RATES IN NEW YORK CITY, BY MONTHS, 1924-1928 [Per cent] Prevailing rate on- Average rate on1— Average yield on*— Call loans 3 u. s. Prime Prime ! Prime Treas- Month m p c a e o p r m c e i r - a , l a b a n a c c n c e k e s e p , r t 9 - s 0 ' \ : I 9 l T 0 o a i d m n a s e y , s2 Re- a b c a e c n r e s k p ' - t- n a u o n r t y d es L b i o b n e d r s ty 4 T b u o re n r a y d s s - 5 mo 4 n -6 ths days j newal 9 a 0 n d ce a s y , s c c e a rt t i e fi s - , 3-6 months 1924—January 4.09 3.76 4.32 February 4.07 3.54 4.29 March. 4.04 3.57 4.29 April 3. 95 3.38 4.24 May 3.29 2.99 4.15 June 2.45 2.44 4.01 July. 2.01 1.92 3.94 August 2.10 1.90 3.92 September 2.33 2.14 3.95 October 2.21 2.41 3.93 November 2.37 2.58 3.98 December 2.89 2.57 4.05 1925—January 3.00 2.61 4.04 February 3.08 2.62 4.02 March 3.25 2.78 4.02 April 3.14 2.78 3.96 May 3.17 2.73 3.93 June 3.25 2.86 3.90 July 3.25 3.06 3.95 August 3.27 3.01 3.98 September 3.50 3.33 3.98 October 3.50 3.53 4.02 November 3.50 3.65 4.04 December 3.50 3.51 4.04 1926—January 4.33 3.67 3.49 4.04 February... 4.85 3.63 3.18 4.01 March 4.55 3.63 3.25 3.98 April 4.06 3.42 3.08 3.94 May__ 3.81 3.20 3.17 3.93 June 4.15 3.32 2.90 3.90 July 4.27 3.38 3.11 3.93 August 4.52 3.57 3.27 3.95 3.75 September.. 5.02 3.88 3.47 3.96 3.74 October 4.75 3.88 3.58 3.95 3.73 November- 4.56 3.79 3.35 3.91 3.68 December.. 5.16 3.83 3.11 3.84 3.64 1927—January 4.32 3.69 3.23 3.80 3.60 February 4.03 3.69 3.29 3.80 3.58 March 4.13 3.63 3.21 3.48 April 4.18 3.63 3.39 3.47 May__ 4.26 3.63 3.33 3.44 .Tune 4.33 3.63 3.09 3.47 July 4.05 3.50 2.96 3.48 August .._ 3.68 3.13 2.70 3.45 September 3.83 3.13 2.81 3.44 October. 90 3.25 3.08 3.43 November—__ 3.60 3.25 3.04 3.39 December 4.38 3.25 3.17 3.34 1928—January 4.24 3.36 3.31 3.35 February..... 4.38 3.51 3.33 3.36 March.. _ 4.47 3.52 6 3.30 3.30 April.. , 5.08 3.81 6 3.62 3.32 May 5.70 3.94 6 3.90 3.35 June _!.._. 6.21 4.05 6 3.92 3.40 July 6.05 4.32 4.12 3.50 August 6.87 4.62 4.36 3.56 September..... 7.26 4.50 4.57 3.54 October. 6.98 4.50 4.70 3.55 November.... 6.67 4.50 4.24 3.48 December 8.60 4.50 4.35 3.53 1 These rates are monthly averages of daily quotations for the month. 2 Stock exchange 90-day time loans. 3 Stock exchange call loans; new and renewal rates. . * Second,. third, and fourth A\i per cent Liberty bonds. s Three issues—3^, 4, and Al/i per cent: yields calculated on basis of last redemption dates—1956, 1954, •and 1952. 6 Based, at least in part, on certificates of 6-9 months maturity. Back figures—See Annual Report for 1927 (Table 28). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
104 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 40.—OPEN-MARKET RATES IN NEW YORK CITY, BY WEEKS [Per cent] Prevailing rate on- Average rate on— Aver o a n g — e yield Call loans 2 U. S. Week ending (Saturday)— c m o p P 4 m a o c r p i t i n m o a m e t l h r e e 6 , s r- b 9 a a P a 0 c n n r c c i d k e m e a e p s y r e t , - s s ' 90 T l o d i a m a n y e s s 1 New ne R w e- al a 9 P a b c 0 n e a r c c i r n d e m s e p k a ' s e - t y , - s T n u r o e r t a y e s s - j Treas- 3 to 6 I months! 1928 Jan. 7 4.57 4.88 3.25 3.25 ! 3.33 Jan. 14 4.20 4.20 3.35 3.25 j 3.33 Jan. 21 4 3.88 4.10 3.38 3.35 3.35 Jan. 28 4 3.82 3.70 3.40 3.36 j 3.37 Feb. 4_— 4 4.45 4.55 3.53 3.39 ! 3.38 Feb. 11 4 4.34 4.40 3.53 3.39 3.37 Feb. 18 4 4.42 4.44 3.50 3.30 ; 3.35 Feb. 25 4 4.21 4.25 3.50 3.28 I 3.35 I Mar. 3 4 4.42 4.45 3.50 3.30 ! 3.33 Mar. 10-. 4-4^ 4.25 4.25 3.50 3.25 ! 3.30 Mar. 17- 4-4^ 4.50 4.50 , 3.50 3.29 i 3.30 Mar. 24. 4-4^ 4.45 4.45 3.50 3.33 ! 3.28 Mar. 31- 4-4 4.73 4.65 3.58 3.33 i 3.29 Apr. 7 5.20 5.00 3.70 3.38 I 3.30 Apr. 14 5.39 5.45 3.76 3.46 3.31 A A p p r r . . 2 21 8.. 3 / K % 4 4 . . 9 7 8 1 4 4 . . 9 9 5 0 3 3 . . 8 8 8 8 3 3 . . 8 7 2 1 i ! 3 3 . . 3 3 4 3 May 5 5 i 5.25 5.30 3.88 3.82 ] 3.33 May 12 5 I 5.67 5.60 3.88 3.90 ! 3.33 May 19 5-5^ i 5. 67 5.60 3.90 3.96 j 3.36 May 26 6.00 6.00 4.06 5 3. 93 j 3.37 June 2 4-43^8 6.10 6.00 4.06 3.88 ! 3.38 June 9 4 6.09 6.10 4.00 3.93 ! 3.41 June 16 4 5.80 5.80 4.00 3.93 I 3.39 June 23 434-5 4-4H 6.21 6.00 I 4.08 3.87 I 3.39 June 30 4M5 4M 7.20 <±. 10 3.94 j 3.39 July 7 6.59 6.75 4.13 4.01 ! 3.40 July 14 6.55 6.40 4.38 4.04 ! 3.52 July 21 5.44 5.80 4.38 4.18 ! 3.53 July 28.. 5.50 5.50 4.53 4.17 I 3.53 Aug. 4 6.77 6.60 4.63 4.28 ' 3.53 Aug. 11 6.91 6.50 4.63 4.52 3.56 Aug. 18 6.27 6.60 4.63 4.55 3.58 Aug. 25 7.05 6.80 4.63 4.19 3.56 Sept. 1 7.45 7.40 4.60 4.23 3.53 Sept. 8 7.69 7.50 4.50 4.27 3.51 Sept. 15 7.39 7.40 4.50 4 4.51 3.54 Sept. 22 7.65 7.30 4.50 4.61 3.54 Sept. 29 6.93 6.90 4.50 4.75 3.56 Oct. 6.- --. 7.70 7.50 4.50 4.86 3.56 Oct. 13 6.42 6.50 4.50 4.77 3.58 Oct. 20. 7.06 7.00 4.50 4.71 3.55 Oct. 27 6.85 6.50 4.50 4.53 3.52 Nov. 3 7.53 7.50 4.50 4.58 3.49 Nov. 10 6.35 6.38 4.50 4.54 I 3.47 Nov. 17 6.20 6.20 4.50 M. 00 3.48 Nov. 24 6.50 6.50 4.50 3.99 j 3.46 Dec. 1 8.39 7.38 4.50 4.16 3.50 Dec. 8 9.87 8.80 4.50 4.24 3.51 Dec. 15 7.25 8.00 4.50 4.27 3.53 Dec. 22 7.26 7.20 4.51 4.39 3.55 Dec. 29 10.83 10.00 4.50 4.49 3.55 1 Stock exchange 90-day time loans. 2 Stock exchange call loans new and renewal rates. 3 3 issues—33A, 4, and 4J^ per cent; yields calculated on basis of last redemption dates—1956, 1954, and 1952. * Change of issues on which yield is computed. * Based on certificates of 6-9 months maturity. Back figures.—SQQ Annual Reports for 1927 (Table 29), 1926 (Table 107), and 1925 (Table 106). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DISCOUNT RATES AND MONEY KATES 105 No. 41.—MONEY RATES IN NEW YORK CITY—PREVAILING RATES CHARGED CUSTOMERS, 1924-1928 [Rates prevailing during 7-day period ending with 15th of month. Per cent] Loans secured by stocks and I , bonds ! Loa°s Demand I Time j receipts 1925 January February March April May June July August September October November December January February March April May June. July August September October... November December. January. February March April May June July August. September 334-5 October... 4 -5 November 334-5 December. 4 -5 January. 434-5 February. 4 -5 March 434-5 April 434-4 4%-5 May 434-5 5 -6 June 43^-5 5 -534 5 -6 July 5 -534 5 -6 5 -6 August. 534-534| 534-6 September 534-6 534-6 October... 534-6 534-6 November. '534-6 534-6 December. 5 -6 5%-6 Back figures.—See Annual Report for 1927 (Table 30). NOTE.—For corresponding figures relating to cities other than New York, see the Federal Reserve Bulletin; also Annual Reports for 1926, Part II, Table 16, and 1925, Part II, Table 12. 41223—29 8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
106 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FOREIGN RATES No. 42.—DISCOUNT RATES AT CENTRAL BANKS IF FOREIGN COUNTRIES- CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1928 [Per cent] Central bank of— Date effective [ England! France m G a e n r y - Italy Japan N l e a t n h d e s r- Sweden Sw la i n tz d er- In effect Jan. 1, 1922— 5 5 6 . 8.03 4 i922—Feb. 16 Mar. 2 Mar. 10 5 Mar. ll._- i 5 Apr. 13,._ 4 I June 15 July 1 4H July 11 July 13 - 3 July 18.. I 4 July 28 D Aug. 17__ 3 Aug. 28 7 Sept. 21 , ___ 8 Nov 13 _._ 10 1923—Jan. 18 ___ 12 Apr. 23 18 July 5. 4 "I::::::!".""™ July 14 _ „_ 4 Aug. 2 _ 30 Sept. 15 90 Nov. 9 _ *Yl Dec. 12 &A Dec 29 1 10 1924—Jan. 10 ___ 5 V "~ " """ Jan. 17 6 Jan. 24_._ _-. 5 Dec 11 7 i Dec 13 1925—Jan 15 i 4 Feb 26 9 Mar. 5 5 Mar. 9 . .. 6 Apr 15 7.30 June 2 i June 18 7 2 Julv 9 6 July 24 _ A.ug. 6 _ j Oct. l._ 4 j • Oct. 3 ..- 3K•& Oct. 9 Oct 22 ii A Dec. 3 5 I92Q—Jan 12 8 Mar 27 7 June 7 July 6 6 July 31 iy 2 Oct. 4 6.57 Dec 16 6V2 1927 Tan 11 5 Feb 3 ly Mar 9 » . 2 ! 5 84 Apr 14 5 Apr. 21 &A Apr. 22 4 June 10 6 Oct 4 7 Oct 10 5.48 Oct. 13 4H Dec 29 4 1928—Jan. 2 3K Jan 19 Mar. 5 . L Apr 1 j , 6 2 May 1 _ __ I 4 June 25 • • a Aug. 24 In effect Dec. 31, 1928,. Ay 2 3,H; 7 5.48 4H *i Rate charged on bills payable in stable values ;the rate charged on bills payable in paper marks remained Digitized fo9r0 F pRerA cSenEt Ru ntil discontinued Jan. 29, 1924. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DISCOUNT BATES AND MONEY RATES 107 No. 43.—OPEN-MARKET RATES IN FOREIGN COUNTRIES, BY MONTHS, 1924-1928l [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 e e r r m li a n n ) y (M It i a l l a y n) (T Ja o p k a y n o) (A l d a m a n s m d te s ) r- S (Z w l u a it r n z i d c e h r ) - Month Bankers' Private Private Private Private Private accept- discount discount discount Discounted discount discount ances, 3 rate rate rate bills rate rate months 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 A ugust 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 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 December. 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 1927 January 4 17 4.99 4.20 9.25 6.39- 8.76 2.97 3.16 February 4.19 4.45 4.23 9.25 6.21 8.03 3.47 2.87 March 4.33 3.89 4.59 9.25 5.84- 7.67 3.50 2.98 April... 4 04 3.17 4.61 9.25 5. 84- 8 03 3 47 3 13 May 3.88 2.46 4.90 8.50 6. 57- 7.67 3.46 3.19 June _. _ 4.34 2.25 5.39 7.60 6. 57- 8.76 3.57 3.42 July 4 33 2.13 5.90 7.00 6.21- 8 40 3.53 3 47 August 4.33 2.04 5.82 7.00 5.48- 8.03 3.45 3.44 September _ _ 4.32 2.01 5.90 6.81 5.11- 7. 67 3.56 3.39 October 4.32 1.82 6.69 6.50 4.75- 7.30 4.11 3.38 November _ 4 33 2.75 6.76 6.27 5.11- 7 30 4 50 3.39 December 4.31 2.95 6.87 6.00 5.48- 7. 67 4.49 3.40 1928 January.. _ 4.19 2.81 6.27 6.00 4. 38- 7 67 4 29 3 29 February 4.18 2.75 6.20 5.89 4. 38- 6. 21 3.97 3.12 March 4.12 2.72 6.72 o. 75 4. 02- 5. 84 3.97 3.20 April 4.02 2.62 6.71 5.49 4. 75- 5. 84 4.18 3.29 May .. 3.97 2.62 6.66 5.25 4. 75- 5. 81 4.27 3.32 June... . . 3.82 2.90 6.59 5.25 4. 38- 5. 84 4.18 3.40 July 3.99 3.12 6.74 5.25 4. 38- 5. 84 4.10 3.44 August 4.27 3.23 6.68 5.25 4, 38- 5. 84 4.13 3.41 September 4.23 3.26 6.65 5.25 4. 75- 5. 84 4.39 3.38 October 4.35 3.37 6.57 5.25 4. 75- 6. 21 4 40 3 38 November _ 4.38 3.37 6.28 5.45 4. 75- 6. 75 4.44 3.35 December 4.37 3.41 6.28 5.50 4. 93- 6. 94 4.46 3.32 i All figures are monthly averages. For sources used and detailed explanation of methods of quotation, see Federal Reserve Bulletin for November, 1926, and April, 1927. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MEMBER AND NONMEMBER BANK CREDIT 109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL BANKS IN THE UNITED STATES No. 44.—ALL BANKS1 IN THE UNITED STATES—LOANS AND INVESTMENTS OP MEMBER AND NONMEMBER BANKS, 1914-1928 [In millions of dollars] Loans and investments Loans Investments Date2 ba A n l k l s b M a b e n e m k r s - b m N a b e o n e m n k r - s - ba A n l k l s b M a b e n e m k r s - b m N a b e o n e m n k r - s - ba A n l k l s b M a b e n e m k r s - b m N b a e e o n m r n k - s - 1914—June 30 _ 20, 789 3 8,313 '12, 475 15,248 3 6,443 « 8,804 5,541 I 3l,870 • 3,671 1915—June 23- 21,466 8,764 12, 702 15, 643 6,720 8,923 5,823 h 2,044 3,779 1916—June 30- 24, 587 10, 315 14,271 17, 961 7,964 9,996 6,626 2,351 4,274 1917—June 20- 28,287 12, 453 15, 833 20, 510 9,370 11,140 7,777 3,083 1918—June 29- 31,813 18, 507 13,306 22,392 13,233 9,158 9,421 5,274 4,147 1919—June 30- 36, 570 22, 242 14,330 24, 710 15, 414 9,297 11.860 6,827 5,033 1920—June 30- 41,685 25, 559 16,125 30,824 19, 533 11,290 10.861 6,026 4,835 1921—June 30.. 39, 999 24,121 15, 880 28, 970 18,119 10,852 11, 029 6,002 5,028 1922—June 30, 39, 956 24,182 15, 774 27, 732 17,165 10, 567 12.224 7,017 5,207 1923—June 30. 43, 738 26, 507 17, 230 30, 378 18, 750 11, 627 13,360 7,757 5,603 Dec. 31.. 44, 003 26, 487 17, 516 30, 778 18,842 11, 936 13.225 7, 645 5,580 1924—June 30_ 45,180 27,167 18, 013 31, 523 19,204 12,320 13, 657 7,963 5,693 Dec. 31.. 47,182 28, 746 18,437 32, 440 19, 933 12, 507 14, 742 8,813 5,929 1925—June 30 _ 48,830 29, 518 19, 312 33, 865 20, 655 13, 210 14, 965 8,863 6,102 Dec. 31.. 50, 603 30,884 19, 720 35, 640 21, 996 13, 644 14, 963 6,076 1926—June 30_ 51, 562 31,184 20, 378 36,157 22, 060 14, 097 15, 404 9,123 6,281 Dec. 31.. 52,018 31, 642 20, 376 36, 759 22, 652 14,106 15, 260 8,990 6,269 1927—June 30.. 53, 750 32, 756 20, 994 37, 360 22,938 14,421 16,391 9,818 | 6,573 Dec. 31.. 55,450 34, 247 21,204 38, 407 14, 521 17,043 10,361 I 6,683 1928—June 30_. 57, 265 35, 061 22, 204 39,464 24, 303 15,161 17, 801 10,758 I 7,043 Dec. 31.. 58, 266 35, 684 22, 582 40, 763 25, 155 15,607 17, 504 10,529 ! 6,975 No. 45.—ALL BANKS1 IN THE UNITED STATES—DEPOSITS OF MEMBER AND NONMEMBER BANKS (EXCLUSIVE OF INTERBANK DEPOSITS), 1914-1928 [In millions of dollars] Date 2 ba A n ll ks M b e a m nk b s er m b N e a m o n n k b - s er Date2 ba A n ll ks M b e a m nk b s er m b N e a m o n n k b - s er 1914—June 30 18, 568 3 6,374 * 12,192 1923—June 30... 40,688 23,871 16,817 1915—June 23 19,131 6,678 12, 453 Dec. 31.... 42,163 24,996 17,167 1916—June 30 22, 759 8,395 14, 364 1924—June 30... 43, 405 25, 711 17, 694 1917—June 20 26, 352 10, 301 16, 052 Dec. 31.... 45, 835 27, 836 17,999 1918—June 29 28, 765 15, 670 13,095 1925—June 30... 47, 612 28,440 19,172 Dec. 31.... 49, 224 30,029 19,195 1919—June 30 33, 603 19,171 14,433 1926—June 30. _. 49, 733 29,781 19,952 1920—June 30 37, 721 21,915 15, 805 Dec. 31.... 50, 029 30, 474 19, 555 1921—June 30 35, 742 20, 637 15,104 1927—June 30. _. 51, 662 31, 269 20,393 1922—June 30 37, 615 22,397 15, 219 Dec. 31-_._ 52, 909 32,063 20,846 1928—June 30 53, 398 32,133 21,265 Dec. 31... 56, 766 34, 826 21,940 1 Includes member and nonmember banks (25, 941 in June, 1928) as follows: National banks, State commercial banks and trust companies, mutual and stock savings banks, and all private banks (about 280 in June, 1928) under State supervision. 2 Dates of reports of member banks; figures for nonmember banks are as of nearest available date. 3 National banks. 4 Nonnational banks. NOTE.—Figures of nonmember banks and all banks for 1927 slightly revised, on account of the receipt from some States of data more nearly current; also figures for deposits of member and all banks, beginning 1919, to include "letters of credit and travelers' checks sold for cash and outstanding." Ill Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
112 ANNUAL REPOET OF THE FEDERAL RESERVE BOARD ALL MEMBER BANKS No. 46.—ALL MEMBER BANKS—RESOURCES AND LIABILITIES OF NATIONAL AND STATE BANK MEMBERS, DECEMBER 31, 1927 AND 1928 [In thousands of dollars] Total National banks ! State bank members Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1927 1928 1927 1928 1927 1928 RESOURCES Loans (including overdrafts) 2 '23,886,393 25,155,255 4, 641, 073 15, 285,1449, 245,3209, 870, 111 United States Government securities 3,977.557 4, 311, 790 2,744,827! 3,006,236 1, 232, 7301, 305, 554 Other securities. 6,382,962 6, 216, 890 4,149,498i 4,115,260 2, 233,4642,101, 530 Total loans and investments 34,246,912 35.,,683,935 11,535,398 22,406, 740 'n"I], 711, 514 \13 ;277,195 Customers' liability on account of acceptances _. 699,701 929, 540 369,855 531, 305 329, 846 398, 235 Banking house, furniture, and fixtures. _. 1,067, 2001,107, 287 699, 725 730,063 367,475 377, 224 Other real estate owned 177, 229 177, 716 122,878 123,047 54,351 54, 669 Cash in vault 523, 370 564, 384 360,071 386,954 163, 299 177,430 Reserve with Federal reserve banks 2, 514,465 2, 409, 367. 1, 509, 2531,496,316 1, 005, 212 913, 051 Items with Federal reserve banks in process of collection 784, 391 967, 836 520,399 577,086 263, 992 590, 750 Due from banks in United States 2, 209, 831 2,124, 252 1,649, 5571, 581, 969 560, 274 542, 283 Due from banks in foreign countries 3 258, 337 306,950 152, 929 206,003 105,408 100, 947 Exchanges for clearing house and other checks on local banks 1, 508,418 3,493, 061 781, 537 1,923,860 726,881 1, 569, 201 Outside checks and other cash items 200,159 203,884 106, 321 116,161 93, 838 87, 723 Redemption fund and due from United States Treasurer... _.._ .__ 33, 281 32, 995 33, 281 32, 995 Acceptances of other banks and bills of exchange or drafts sold with indorsement 431,968 677,994 194, 530 329, 764 237,438 348, 230 Securities borrowed 35, 212 35, 947 24,193 20, 341 11,019 15, 606 Other assets... ^ 197, 666 220,498 88, 630 110, 853 109,036 109, 645 Total. 44,888,140 48,935, 64628,148, 557 30, 573, 45176, 739, 583 18, 362,189 LIABILITIES Capital stock paid in.. 2,337,780 2,474, 223 1,527, 7091,615,601 810, 0/1 858, 622 Surplus-_ _ 2,124,020 2,440, 709 1, 313,4831,489,099 810, 537 951,610 U Re n s d e i r v v i e d s e d fo r p d ro iv fi i t d s— en n d e s t , contingencies, etc_ [ 879,480f I 8 1 3 5 2 1 , , 5 7 6 4 4 4 • 530,576' 49 8 1 5 , , 3 5 1 5 7 9 | J \ ' 3 6 4 6 1 , , 4 0 2 0 7 5 Reserves for interest, taxes, and other expenses accrued and unpaid 128, 757 120, 676 76, 410 T6, 602 52,317 54,074 Due to Federal reserve banks. 52, 073 56, 510 39,381 40,748 12, 692 15,762 Due to other banks in United States 3,808, 2223, 649,037 2, 729, 9312,595,768 1,078, 291 1,053,269 Due to banks in foreign countries 745,691 543, 273 428, 704 296,761 316,987 246, 512 Certified and officers' checks outstanding. 839, 556 2,184,138 456,119 1,134,195 383, 437 1, 049,943 Cash letters of credit and travelers' checks outstanding | 21,641 23,128 9,218 10, 344 12, 423 12, /84 Demand deposits j 18,170,140 18,903,65811, 223, 602 11, 774, 8726,946,538 i, 128, 786 Time deposits ...112,764,79813,453,311 7,805, 7878, 304, 3 4,959,011 5,148, 950 United States deposits I 266,9811 261,505 167,3141 183,337 99,667 78,168 Total deposits 136,669,102 39,074,560 22,860, 056 24, 340, 386 13,809, 046 14, 734,174 Agreements to repurchase United States I Government or other securities sold | 32,785 134,084 12,843 75,165 19,942 58, 919 Bills payable and rediscounts 663,475 1,1G2,178 481, 382 785, 059 182,093! 3/7,119 Acceptances of other banks and bills of exchange or drafts sold with indorsement --.. 431,968 677,994 194,530 329, 764j 237,438 348, 230 Acceptances executed for customers 721,473 928,329 374, 852 524, 725j 346, 621 403,604 Acceptances executed by other banks for account of reporting banks 22,318 43,636 14, 506 23, 248! 7,812 20, 388 National bank notes outstanding 649,877 649,893 649, 877 Securities borrowed 35,936 35,947 24, 417 20,3411 11,519 15, 606 Other liabilities., i 191,169 209,109 87,;" 76, 6981 103, 283 132,411 Total 144,888,14048,935,646128,148,557 30,573,457 16,739,583 18,362,189 1 Member banks only—i. e.. exclusive of national banks in Alaska and Hawaii. 2 Exclusive of acceptances of other banks and bills of exchange or drafts sold with indorsement, now shown separately. 3 Includes amounts due from own foreign branches. * Includes amounts due to own foreign branches. Back figures.—For principal items see Table 48, also Annual Report for 1926 (Tables 77-78: separate figures for national and State members); for detail see (1) Member Bank Call Report, Nos. 35-42; (2) Annual Reports for 1927 (Table 84), 1926 (Table 79), 1925 (Tables 78-80), 1924 (Tables 78-80); (3) Federal Reserve Bulletin. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS 113 No. 47.—ALL MEMBER BANKS—RESOURCES AND LIABILITIES OF RESERVE CITY AND COUNTRY BANKS, DECEMBER 31, 1927 AND 1928 [In thousands of dollars] Ce c n i t t r y a l b r a e n s k e s rve O c th it e y r b re a s n e k r s ve Country banks Dec. 31, Dec. 31, Dec. 31, Dec. .31, Dec. 31, Dec. 31, 1927 1928 1927 1928 1927 1928 RESOURCES Loans (including overdrafts)i 7,014, 378 7, 537,414 8,461,824 8, 702, 347 8, 410,1918,915,494 United States Government securities 1,128,979 1,267,8"" 1, 546, 869 1,662, 415 1, 301, 7091,381, 539 Other securities 1,126, 574 1,055, 740| 1,895,487 1,791,212 3, 360, 9013, 369,938 Total loans and investments 9,269,931 9,860,990 11,904, 1~80 12,155,9"-7"4 13,072, 80113, 666, 971 Customers' liability on account of acceptances 510, 342 700,731 171, 959 212, 534 17,400 16,275 Banking house, furniture, and fixtures 163,307 179, 829 405,151 415,097 498, 742 512,361 Other real estate owned 3,357 5, 037 57,648 59, 954 116, 224 112, 725 Cash in vault 71,917 78, 414 157, 666 167, 273 293, 787 318,697 Reserve with Federal reserve banks 1,036, 253 978, 2891 814, 687 779, 327 663, 525 651, 751 Items with Federal reserve banks in process of collection 243,693 369, 501 420, 231 458, 926 120,467 139,409 Due from banks in United States 240, 835 248,126 899,057 899, 258 1,069, 939 976,868 Due from banks in foreign countries 2 204, 989 239, 502 49, 259 63, 934 4, ~~~ 3,514 Exchanges for clearing house and other checks on local banks 1, 070, 489 339, 708 489,157 98, 221 123, 295 Outside checks and other cash items 62, 978 81, 414 104, 213 87,169 32,968 35, 301 Redemption fund and due from United States Treasurer 1,881 1,994 8,192 23,431 22,809 Acceptances of other banks and bills of exchange or drafts sold with indorsement 359, 228 550, 487 70, 910 125, 571 1,830 1,936 Securities borrowed 350 350 21, 524 20, 720 13, 338 14, 877 Other assets 65, 422 108, 909 64, 236 46, 296 47, 353 Total. 13, 304,972 16,284,182 15, 510,110 16, 007, 32: 16, 073, 05816, 644,142 LIABILITIES Capital stock paid in 573, 500 674, 972 796, 530 821, 693 967, 750 977, 558 Surplus 654, 796 846, 755 698, 044 777, 835 771,180 816,119 U Re n s d e i r v v i e d s e d fo r p r d o i f v it i s d — en n d e s t , contingencies, etc. \ 270,103/ I 2 6 6 5 5 , , 0 7 6 3 0 2 273,141f I 24 45 3 , , 5 1 2 7 4 4• 336,236I 32 4 3 1 , ,5 3 1 0 0 8 Reserves for interest, taxes, and other expenses accrued and unpaid ._. 50, 265 44, 340 43, 831 41, 325 34, 661 35, Oil Due to Federal reserve banks 14 1 12, 822 12. 508 39, 237 44,001 Due to other banks in United States 1, 454, 322 1, 541, 351 1, 680, 614 485, 214 427,072 Due to banks in foreign countries 3 699, 850 486, 888 43, 802 54, 035 2,039 2,350 Certified and officers' checks outstanding. 503, 874 1, 786,960 212, 824 271, 081 122, 858 126, 097 Cash letters of credit and travelers' checks outstanding 16, 795 16, 470 4, 642 6, 085 204 573 Demand deposits 6,148, 862 6, 748, 224 5, 943, 198 6, 034, 6666, 078, 080 6,120, 768 T T U i o n m t it a e e l d d d e S e p t p o a s o te i s t s s i t d s eposits _. 10 1 , , 4 6 9 7 0 4 0 0 , , , 8 3 8 3 0 1 3 2 3 13 1 , , 4 8 6 2 5 4 6 8 , , , 8 3 6 8 7 0 2 ; 1 1 4 2 , , 6 1 9 9 4 2 2 6 4 , , , 4 9 5 6 6 1 8 0 8 1 1 4 3 , , 8 1 0 3 5 4 2 2 3 , , , 3 9 0 7 9 6 0 7 2 6, 47 5 1 0 , , .1 5 6 1 1 7 1 6, 7, 5 9,4 0 , , 4 4 2 04 1 Agreements to repurchase United States 13, 349, 31013, 565, S86 Government or other securities sold 1,0531 72,870 29, 4281 52, 854 2,3041 Bills payable and rediscounts 262, 233 i 456,050 210, 8351 375,922 190, 407 j 330,200 Acceptances of other banks and bills of j exchange or drafts sold with indorsement 359, 2281 550, 486: 70, 910! 125, 5' 1, 830 1,937 Acceptances executed for customers 525, 432| 700, 366 180, 592J 212, 882 15, 449 j 15,081 Acceptances executed by other banks for account of reporting banks 15,4541 26,980 5,287 i 15,348 1, 577| 1, 308 National bank notes outstanding 37,287! 39,399 155,758 161,234 456, 832. 449, 260 Securities borrowed 350| 350 21,524 20,720 14, 062! 14, 877 Other liabilities 60,439 75,939 99,270! 69,243 31, 460; 63,927 Total- 13,304, 972 16, 284,182 15, 510,110 16,007, 322 16, 073, 058 16, 644,142 1 Excludes acceptances of other banks and bills of exchange or drafts sold with indorsement, which are shown separately. 2 Includes amounts due from own foreign branches. 3 Includes amounts due to own foreign branches. Back figures.—See (1) Member Bank Call Report, Nos. 35-42 (where data are given by cities); (2) Annual Reports for 1927 (Table 85), 1926 (Table 80), 1925 (Tables 81-84), 1924 (Tables 81-84); (3) Federal Reserve Bulletin. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. i8.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1914-1928 [In millions of dollars] Loans and investments Net Bills Call date Cotal Loans i Inves U t . m S e . nts b f a D r n o u k m e s2 de T p o (* o t ) s a i l ts d D e e p m ( o * s a ) i n ts d 4 p T o d i s m e it - s e ; U S po n t d a s i e t t i - e e ts s d b D a u ( n * e k ) s to 6 d d e e N p m (• o e ) a s t n it d s dem (* a ) nd " r D b e p s a e n r k v s e c r o p a e a b u d a n y l n i d s e t - - s b N be a u r n m k o - s i Total securi- 1914 Dec. 31 8,498 6,419 2,079 760 1,319 1,163 2,093 8,305 5,125 1,233 1,876 i 6,235 7,468 266 133 7,582 1915 Mar. 4. 8,570 6,563 2,007 747 1,260 1,353 8,666 5,092 1,264 2,252 6.622 7,886 295 96 7,607 May 1 8,707 6, 705 2,002 750 1, 252 1.322 8,967 5,367 1,320 2,234 6,735 8, 055 295 91 7,614 June 23 _ 8,764 6,720 2,044 749 1,295 1,282 8,894 5,278 1,352 2,216 6,811 8,163 317 98 7,615 Sept. 2 9,048 6, 965 2,083 747 1,336 1,443 9,437 5,491 1,416 2,486 7,145 8,561 324 106 7,630 Nov. 10 9,693 7,483 2,210 745 1,465 1,637 10, 389 6,152 1,463 2,734 7,879 9,342 376 104 7,640 Dec. 31 9,861 7,622 2,239 742 1,497 1,563 10, 636 6,334 1,506 2,761 7,971 9,477 414 99 7,631 1916 May 1— 10, 252 7,898 2,354 710 1,644 1,767 11,404 6,661 3,022 8,336 10,022 438 64 7,605 June 30- 10,315 7,964 2,351 703 1,648 1,564 11,133 6,581 ,775 2,738 8,226 10,001 490 69 7,606 Sept. 12 10, 732 8, 263 2,469 703 1,766 1,748 11, 737 6,892 ,853 2,958 8,804 10,657 554 95 7,618 Nov. 17 11, 259 8,712 2, 547 697 1,850 2,057 12, 893 7,522 ,940 3,397 9,567 11,507 674 80 7,614 Dec. 27 11, 275 8,714 2,561 690 1,871 1,874 12, 661 7,340 3,303 9,502 11,485 733 95 7,614 1917 Mar. 5 ._ 11,701 9,096 2, 605 687 1,918 2,056 2,218 j 13, 396 7,503 2,125 34 3,734 10, 044 12,169 778 75 7,614 May 1 11,985 8 9, 208 2,777 748 2,029 1,897 2,258 13, 651 7,915 2,263 35 3,438 9,869 12,132 802 8 95 7,629 June 20... 12, 453 s 9, 370 3,083 1, 065 2,018 1,695 2,307 j 13, 397 7,856 2,304 141 3,096 9,690 11,993 862 8 327 7,653 Dec. 31 16, 896 8.8 12,316 4,580 1,759 2,820 2,129 2,807 j 18, 628 11,180 3,156 649 3,643 12,487 15,643 1,497 8 783 7,907 1918 | May 10 18,673 6,006 3,203 2,803 1,870 3, 005 I 19. 210 11,051 3,347 1,459 3,353 j 12, 451 15, 797 1,536 8 1,043 8,132 June 29 18, 507 , 5,274 2,465 2,809 1,906 3,002 18,954 10, 754 3,395 1,521 3, 284 12, 217 15, 612 1,565 8 1, 022 8,213 Nov. 1 20, 981 3.913, 233 6,431 3,591 2,840 2,036 3, 222 ! 20,864 12,059 3, 651 1,708 3,446 | 13, 322 16, 973 1,520 8 1,912 8,596 Dec. 31 20, 593 814, 550 6,368 3,472 2,896 2,194 3,220 ! 21,457 13, 347 3,834 472 3,804 | 14, 563 18,397 1,655 « 1, 876 8,692 8 14, 224 1919 I Mar. 4 21, 484 8 13, 877 7,607 4, 652 2,955 2,137 3, 280 21,511 12, 727 4, 092 3,808 ! 14,160 18, 252 1,633 8 1, 962 8,725 June 30 22, 242 8 15, 414 6,827 3,803 3,024 2,125 3, 350 22, 833 13, 925 4,344 902 3,662 14,725 19,069 1,724 8 1, 927 8,822 Nov. 17 24,187 8 17,423 6,765 3,494 3,271 2,575 3,587 25,183 15, 652 5,050 386 4,095 16, 261 21, 310 1,825 8 2, 257 8,995 Dec. 31 24, 778 818,149 6.630 3,324 3,306 2,519 3,542 26,139 16,080 5,305 648 4,106 16, 576 21, 881 1,904 8 2, 347 9,066 1920 May 4 _ 25, 418 19,198 6,220 2,958 3,262 1,874 3,833 24,871 15, 388 5,747 190 i 3,546 16, 426 22,173 1,866 2,755 9, 291 June 30 25, 559 19, 533 6,026 2,811 3,215 1,824 3,853 25,401 15, 744 5,911 260 I 3,486 16, 422 22, 333 1,839 2,701 9,399 Nov. 15 25,769 19,852 5,917 2,655 3,262 1,774 4,086 25,106 15, 512 6,144 220 I 3,230 15,924 22,068 1,827 3,080 9, 567 Dec. 29 25, 531 19, 555 5,976 2,619 3, 357 1,577 4,120 24,220 14, 632 6,188 316 I 3,084 15,345 21, 533 1,763 3,036 9,606 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Apr. 28.. 24,390 18,487 5,903 2,496 3,407 1,325 4,156 22,830 13,527 6,343 273 2,687 14,389 20,732 1,654 2,313 June 30.. 24,121 18,119 6,002 2,561 3,441 1,354 4,133 23,350 13.881 6,367 390 2,713 14,321 20,688 1,625 2,022 9,745 Dec. 31.. 23,482 17, 394 6,088 2,581 3,507 1,450 4,093 23,247 13,630 6,451 306 2,860 14,449 20,900 1,758 1,364 9,779 1922 Mar. 10.. 23,278 17,080 6,198 2,701 3,497 1,614 4,185 23, 660 13, 503 6,662 330 3,165 14,498 21,160 1,723 758 9,816 June 30_. 24,182 17,165 7,017 3,205 3,812 1,647 4,214 25, 547 15,065 7,175 156 3,150 15, 539 22,714 1,835 592 9,892 Dec. 29.. 25, 579 17, 930 7,649 3,754 3,896 1,806 4,364 27,288 15,689 7,645 462 3,492 16,203 23, 848 1,939 727 9,859 1923 Apr. 3. 26,141 18, 419 7,722 3,849 3,873 1,774 4,356 27, 200 15,145 8,143 404 3,508 16,086 24, 229 1,909 815 9,850 June30_. 26, 507 18, 750 7,757 3, 835 3,922 1,596 4,367 27,088 15,196 8,378 297 3,217 16, 066 24, 444 1,871 944 9,856 Sept. 14.. 26,319 18,719 7,600 3,685 3,915 1,640 4,436 26, 942 15,128 8,466 145 3,203 15,919 24, 385 1,869 983 9,843 Dec. 31.. 26,487 18,842 7,645 3,603 4,042 1,824 4,378 28, 507 16,107 8,651 237 3,512 16, 376 25,027 1,900 9,774 1924 Mar. 31_. 26, 663 19,045 7,618 3,534 4,084 1,644 4,468 28, 270 15, 609 8,890 292 3,480 j 16,112 25,002 1,893 614 9,681 June30_. 27,167 19,204 7,963 3,575 4,387 1,940 4,486 29, 566 16,329 9,204 179 3,854 I 16, 838 26,042 1,965 443 9,650 Oct. 10.. 28,311 19,713 8,599 3,866 4,733 2,430 4,594 30,795 16,406 9,597 302 4,490 ' 17, 804 27,401 2,121 325 9,635 Dec. 31.. 28, 746 19,933 8,813 3,874 4,939 2,339 4,532 j 32, 384 17, 788 9,805 242 4,548 18, 468 28, 273 2,228 9,587 1925 Apr. 6_ 29,046 20,176 8,869 3,894 4,975 2,091 4,669 31, 249 16,629 10,127 412 4,081 17, 708 27,835 2,092 486 9,531 June 30_. 29, 518 20,655 8,863 3.780 5,082 2,017 4,690 32, 457 17.882 10,381 177 4,018 18, 277 28, 658 2,191 559 9,538 Sept. 28.. 30,176 21,285 8,890 3,761 5,129 2,031 4,688 32, 075 17, 452 10,- 467 278 3,878 ! 18, 259 28, 726 2,147 712 9,539 Dec. 31._ 30,884 21, 995 8,888 3,728 5,160 2,155 4,678 34, 250 19, 072 10, 653 304 4,221 19, 260 29,913 2,238 733 9,489 1926 I w Apr. 12. 30, 819 21, 785 9,034 3,805 5,229 1,934 4, 32, 893 17,710 10,955 379 3,849 18,392 i 29, 347 2,136 620 9,412 June 30_. 31,184 22, 060 9,123 3, 745 5,378 1,980 4,832 33,762 18, 381 11,173 228 3,980 18,804 29, 977 2,236 612 9, 375 Dec. 31.. 31, 642 22, 652 8, 990 3,389 5,601 2,066 4,944 34, 528 18,800 11,440 234 4,054 18,922 30,362 2,210 760 9,260 i 1927 i Mar. 23.. 31, 949 22,327 9,622 3,835 5,787 1, 896 5,086 33, 756 17,644 !11,818 407 3,887 18,542 j 30, 360 2,321 546 9,144 3 June 30_. 32, 756 22,938 9,818 3,796 6,022 1,968 5,147 35, 398 18,842 I12, 210 218 4,129 19,250 ! 31, 460 2,280 541 9,099 Oct. 10.- 33,186 23, 227 9,959 3,856 6,103 2,077 5, 295 35, 482 18,378 12, 459 435 4, 209 19,170 i 31, 629 2,320 528 9,087 w Dec. 31.. 34, 247 23, 886 10, 361 3,978 6,383 2,210 5,341 36,669 19,032 j12, 765 267 4,606 I 20,105 i 32,870 2, 514 663 9,034 1928 i i GO Feb. 28. 33, 688 23,099 10, 590 ! 4,216 6,374 1,941 5,404 35, 375 18,182 12,923 86 4,184 ! 19, 236 32,158 2,367 581 I June 30.. 35, 061 24,303 10, 758 4,225 6,534 1,897 5, 625 36, 060 18, 437 13, 439 257 3,927 i 19,191 32, 629 2,342 1,209 ! 8,929 Oct. 3._. 34,929 24,325 10, 604 4,386 6,218 2,026 5,842 36,175 18, 570 13, 410 159 4,037 ! 18,995 32,405 2,348 1,154 8,896 Dec. 31.. 35,684 25,155 10, 529 ! 4,312 6,217 2,124 5, " 39, 075 21,111 13, 453 262 4,249 1 19,944 33, 397 2,409 1,162 | 8, 837 *"Demand deposits" and ''Net demand deposits" revised to include letters of credit and travelers' checks sold for cash, beginning Nov. 1, 1918; "Due to banks" revised to include amounts due to own foreign branches, beginning Mar. 23, 1927. 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. 2 Does not include items with Federal reserve banks in process of collection, or amounts due from foreign banks or own foreign branches. 3 Includes reserves for dividends, contingencies, etc., but excludes, beginning Sept. 28, 1925, reserves for interest, taxes, and other expenses accrued and unpaid. 4 Includes certified and cashiers' or treasurers' checks, and letters of credit and travelers' checks sold for cash. 5 Includes postal-savings deposits, except that such deposits of State bank members prior to June 20, 1917, are included with demand deposits. 6 Includes amounts due to Federal reserve banks, foreign banks, and other banks and bankers; also amounts due to own foreign branches beginning Mar. 23, 1927. 7 Deposits subject to reserve requirements. 8 Includes small amounts of bills sold with indorsement. • Excludes customers' liability on letters of credit for State bank members. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
116 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 49.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY SIZE OF CITY, 1924-1928 [In millions of dollars] Time deposits ; Net demand deposits Banks in cities and towns hav- Banks in cities and towns having a population of— ing a population of— Date Total Total Less 5,000 15,000 100,000 Less 5,000 than to to and than 5,000 ! 15,000 100,000 5,000 15,000 1924 Jan. 23 15,943 1,626 j 1,073 2,046 11,197 1,569 Feb. 27 15,846 1,601 1,056 2,037 11,153 8,805 1,575 Mar. 26 15,815 1, 582 ! 1,048 2,030 11,155 1,581 Apr. 23 ... 15,944 1,555 j 1,049 2,041 11,299 8,975 1, 583 May 28 15,987 1,524 i 1,025 2,021 11,416 9,041 1,585 June 25 16,397 1.512 i 1,022 2,007 11,856 9,148 1,588 July 23 ! 16,710 1.513 ! 1,012 2, 017 12,167 ! 9,269 1, 603 Aug. 27 17,040 1,550 i 1,024 2,034 12,432 I 9,368 1, 617 Sept. 24 17,360 1,615 j 1,044 2, 053 12,647 ! 9,517 1,624 Oct. 29 17,765 1,678 1,067 2,093 12,926 i 9,675 1,633 Nov. 26 17,947 1,699 ! 1,077 2,132 13,039 I 9,796 1,640 Dec. 24 17,957 1,690 i 1,081 2,144 13,042 j 9,727 1,637 1925 ! I Jan. 28 I 17,927 | 1,673 I 1,081 2,170 : 13,002 ! 1,668 1,063 1,997 5,157 Feb. 25.. 17, 1,682 | 1,087 2,211 12,907 |10, 006 1,678 1,073 2,021 5,233 Mar. 25. 17,503 1,663 1,086 2,225 !12,528 |10,094 1,685 1,080 2,048 5,281 Apr. 22- 17, 715 1,638 i 1,088 2,240 12,749 j10,187 1,691 1,082 2,044 5,370- May27_. 17, 552 1.614 ! 1,078 2,247 i12,612 !10,325 1,693 1,083 2,076 5, 473 June 24.. 17, 671 1,614 ! 1,078 2,265 i 12,713 |10, 407 1,702 1,091 2,082 5, 532 July 29.. 17, 817 1,624 ! 1,086 2,295 !12,812 i10, 406 1,722 1,096 2,097 5,491 Aug. 26.. 17, 840 1,669 1,102 2,322 12, 747 10, 475 1,728 1,105 2,117 5, 525' Sept. 23. 18, 005 1,742 ! 1,136 2,376 12,752 !10, 503 1,736 1,113 2,126 5, 528 Oct. 28.. 18, 432 1,779 | 1,159 2,393 i 13,101 |10, 629 1,738 1,116 2,143 5, 631 Nov. 25. 18, 371 1,774 1,158 2,407 • 13,031 !10, 692 1,735 1,119 2,150 5,689 Dec. 23- 18, 443 1,756 I 1,160 2,420 13,107 !10, 627 1,734 1,114 2,136 5, 643 1926 Jan.27. 18, 356 1,721 1,159 ; 2,396 13,080 : 10, 803 1,762 1,130 2,169 5. 742' Feb. 24.. 18, 261 1,724 ! 1, 158 : 2,399 12,980 s 10,880 1, 775 1,138 2,173 5, 794 M'ar. 24. 18, 009 1,697 i 1, 140 i2,367 !12, SOS i10, 970 1,782 1,147 2,192 5,849 Apr. 28— 18, 064 1,603 ! 1,128 2,355 I 12,919 j 11,048 1,783 1,151 2,202 5, 912 May 26.. 18,138 1,648 •! 1,130 2,348 I 13,013 !11,102 1,782 1,157 2,203 5, 959 June 23— 18,110 1,635 I 1,118 i 2,363 :12,994 |11,177 1,789 1,158 2,217 6,014 July 28.. 18,112 1,653 I 1,125 2,370 ! 12,963 |11, 281 1,803 1, 164 | 2, 225 6, 088 Aug. 25.. 18, 072 1,664 | 1, 123 • 2,343 12,943 i 11, 313 1, 807 1,175 2,225 6,10& Sept. 22. 18, 234 1,702 I 1, 144 2,365 13,022 i11, 352 1,802 1,180 2,244 6,125 Oct 27.. 18, 280 1,710 | 1,143 : 2,357 13, 070 i11, 402 1,809 1,181 2,261 6,151 Nov. 24, 18.216 1,695 ! 1,137 2,342 13,042 I11,438 1,803 1,185 2,263 6,187 Dec. 29— | 18,395 1,660 i 1,129 i 2,343 ;13,263 i11, 430 1,802 1,182 2,238 6,208 1927 | Jan.26 ' 18,121 633 j 1,113 2,332 13,044 11, 608 1,821 1,196 2,274 6,316 Feb. 23— ! 18,105 644 i 1,117 2,348 12, 997 11, 795 1,823 1,202 2,295 6,475 Mar. 23 j 18,357 628 ! 1,115 ' 2,354 I 13, 260 11, 900 1,844 1,211 2,316 6, 529 Apr. 27 I 18,346 614 I 1,114 i 2,358 i13, 260 12, 002 1,840 1,220 2,338 6,604 May 25 ! 18,471 609 j 1,105 ; 2,353 13, 405 12,124 1,857 1,222 2,358 6, 686 June 22 _J 18,534 597 ! 1,112 i 2,335 ' 13,490 12,159 1,855 1,233 2,363 6,707 July 27 i 18,555 611 i 1,112 : 2,340 13,493 12, 261 1,875 1,243 2,390 6,753 Aug. 24 i 18,493 632 i 1,114 2,336 13,411 12,334 1,873 1,253 2,411 6,798 Sept. 28 I 18,667 690 | 1,146 i 2,363 13, 468 12, 452 1,872 1,258 2,436 6,885 Oct. 26 i 18,960 726 j 1,162 i 2,388 13, 683 12, 527 1,887 1,266 2,450 6,925 Nov. 9 .- J 19,180 754 ! 1,180 ; 2,412 13,834 12, 579 1,894 1,272 2,453 6,960 Dec. 7 - ! 19,586 750 1,185 | 2,414 •14, 238 12,677 1,901 1,282 2,456 7,038 1928 I Jan.11- 19, 719 709 !| 1,181 2.437 14, 392 12, 928 1,925 1,298 2,488 7,217 Feb. 8— 19,162 701 I 1,160 2,371 13, 930 12, 990 1,941 1,308 2,503 7,238 Mar. 7.- 19,107 690 j 1.148 2,363 13, 906 13.059 1,949 1,316 2,519 7,276 Apr. 11- 19, 391 656 ; 1,151 2,403 14,181 13,259 1,958 1,321 2,546 7,435 May9_. 19,315 655 1, 150 2, 384 14,125 13, 420 1,960 1, 325 2,572 7,564 June13— 19,170 637 i 1,147 2,417 13, 968 13, 443 1,963 1,327 2,577 7,577 July 11.- 18, 789 648 ! 1,144 2, 397 13, 600 13, 422 1,973 1,333 2,580 7,536 Aug. 8-. 18, 273 653 ! 1,132 2,330 13,158 13, 378 1,978 1,331 2,584 7,485 Sept. 12. 18, 691 694 1,146 2,377 13, 475 13, 368 1,981 1,335 2,576 7,475 Oct. 10-_ 18, 779 757 1,176 i 2,381 13,465 13, 462 2,010 1,353 2,604 7,495 Nov. 7.. 19, 005 ,771 1,186 I 2,404 13, 643 13, 511 2,018 1,361 2,608 7,524 Dec. 12- 19,160 ,736 1,178 I 2,447 13,799 13, 418 2,003 1,344 2,577 7,494 Digitized for FBRacAk SfEiguRr es—See Annual Report for 1927 (Table 36). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS 117 No. 50.—ALL MEMBER BANKS—RESERVE BALANCES, BY MONTHS, 1917-1928 [Monthly averages of daily figures. In millions of dollars] Month 1917 1 1918 1919 1920 1925 1926 1927 January.. _ *680 1,467 635 L, 883 1,773 1,707 1,918 1,911 2,194 2,236 2,243 2, 426 F A M M e p a a b r r y i r c l u h ary. * * 7 7 6 7 4 1 9 4 3 8 1 4 1 1 1 1 , , , , 4 4 5 4 6 6 0 8 6 8 4 2 \ \ \ X f f f 6 6 6 6 5 8 1 5 6 6 2 2 L 1 1 L , , , , 8 8 8 8 7 7 5 5 0 8 3 8 1 1 1 1, , , , 6 7 6 6 9 2 6 5 4 8 5 7 1 1 1 1 , , , , 6 7 7 7 8 3 8 1 9 3 3 1 1 1 1 1 , , , , 8 8 8 9 7 6 7 0 3 9 4 1 1 1 1 1 , , , , 9 9 9 8 2 1 0 9 2 5 5 2 2 2 2 2 , , , , 1 1 1 1 2 3 5 3 3 7 9 2 2 2 2 2 , , , , 1 1 1 2 8 9 9 0 3 9 8 8 2 2 2 2 , , , , 2 2 2 2 4 4 1 6 8 0 2 2 2 2 2 2 , , , , 3 3 3 3 9 8 6 6 6 8 5 8 J J A u u u n ly g e ust._._ 1 1 8 1 1 0 0 4 4 1 1 1 1 1 , , , 4 5 4 5 1 4 9 2 8 1 \ 1, t f f6 7 7 9 1 4 6 9 0 1 1 1 , , , 8 8 8 5 0 4 3 7 0 1 1 1 , , , 6 6 6 6 3 2 4 9 1 i j 1 1 1 , , , 8 8 7 2 1 9 0 2 9 1 1 1, , , 8 8 8 3 6 6 5 7 7 2 2 2 , , , 0 0 0 4 7 0 6 2 1 2 2 2 , , , 1 1 1 4 5 6 1 1 0 2 2 2 , , , 2 2 2 0 0 1 1 6 2 2 2 2 , , , 3 2 2 0 8 8 1 9 3 2 2 2 , , , 2 3 3 7 2 5 4 4 5 September 1130 1,507 1,769 1,817 1,629 i 1,811 1,848 2,120 2,161 2,211 2,300 2,314 N O D o e c c t v o e e b m m e b b r, e e _ r r . . . * * • • 1 1 1 4 4 2 0 3 4 9 9 3 1 1 1, , , 5 5 5 8 3 2 6 9 0 1 1 1 , , , 8 8 7 3 2 9 7 0 3 1 1 1 , , , 8 7 7 1 5 8 5 8 2 1 1 1 , , , 6 6 6 7 6 5 3 3 2 j | | 1 1 1 , , , 8 8 83 4 2 6 0 5 1 1 1 , , , 8 8 8 7 6 8 5 4 2 2 2 2 , , , 1 1 1 6 8 4 4 2 1 2 2 2 , , , 2 2 2 2 0 1 1 3 9 2 2 2 , , , 2 2 2 1 1 1 9 8 4 2 2 2 , , , 3 3 3 2 9 7 6 9 3 2 2 2, , , 3 3 3 6 3 5 7 2 2 * Revised. 1 Figures prior to 1917 not available. No. 51.—ALL MEMBER BANKS—BORROWINGS AT FEDERAL RESERVE BANKS, BY MONTHS, 1914-1928 [Monthly averages of daily figures. In millions of dollars] 1914 ay June July August September October November December Month January... 2,523 962 547 574 267 i 520 481 465 February. 2,400 769 608 514 340 I 526 393 471 March 2,297 638 628 476 390 | 557 425 513 April 2,129 572 658 489 403 ; 537 447 661 May 1,959 479 705 433 397 j 511 473 836 June 1,811 437 741 370 437 I 473 429 1,019 July 1,719 425 834 315 480 j 549 454 1,090 August 1,548 396 809 268 545 I 555 409 1,061 September 1,442 417 845 262 594 640 I 422 1,064 October. __ 1,371 486 873 240 619 i 663 424 975 November. 1,228 623 799 228 597 I 615 415 897 December. 1,180 660 771 301 688 I 529 1,013 * Revised. NOTE.—Figures include a small amount of borrowing by intermediate credit banks, etc.; see Table 11. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
118 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 53.—ALL MEMBER BANKS—CLASSIFICATION OF LOANS ON JUNE 30, 1925-1928 [In millions of dollars] Loans on securities All other loans !| Se- Secured by real estate ! cured Se- Total I by cured loans U. S. by Total I Gov- other Total |j ern- stocks i! ment and Total Ijobliga- bonds ! tions Total: 1925 20, 655 6,718 243.3 6,474 13, 937 2,338.3 11,599 1926 22,060 7,321 206.7 7,114 14, 740 2, 649. 5 12, 090 1927 22,938 8,156 180.8 7,975 14, 782 2, 926. 4 11, 856 1928 24, 303 9,068 178.2 8,890 15, 235 3, 068. 3 12,167 Central rese citybanks— 1925. 5,382 2,857 80.2 2,777 2, 525 117.9 2,407 1926 5,753 2,985 64.5 2,920 2,769 151.0 | 2.7 | 148.3 2, 618 1927. 6,267 3,398 56.5 3,342 2,868 180.1 j 2. 6 ! 177. 5 2,688 1928 3,610 63.0 3,547 3, 279 169.8 !! 3.2 i 166.6 3,109 Other reserve city banks—! 1925 ! 7,443 2,275 87.7 2,187 5.168 1,184.2 i I 3,984 1926 J 7,987 2,557 74.5 2,483 5,430 1,323.3 11 122.0 1, 201. 3 4.107 1927 8,291 2,824 61.4 2,763 5,467 1,475. 9 154. 2 1,321.6 3,991 1928 ! 8,657 3,213 71.7 3,141 5,444 1, 514. 6 134. 7 1,379. 9 3,930 Country banks— I 1925 I 7,831 1,586 75.5 1,510 6,245 1.036.3 ! 5,209 1926 ! 8.320 1,779 67.8 1,711 6,540 1.175. 2 I 364. 2 | 811. 0 5,365 1927 | 8,380 1,934 62.9 1,871 0,446 1.270.4 I 321.0 | 949.4 5,176 1928 | 8,757 2,245 43.5 2,201 6,512 1,383.9 || 306.4 ] 1,077.4 5,128 National bank members: j 1925 !12, 592 3.659 159. 2 3,500 8,934 636.5 255.9 | 380.7 8,297 1926 ;13, 322 4,034 130. 7 3,904 9,287 725.0 252.1 ! 472.9 8,562 1927 |13, 849 4.436 109.7 4,326 9,413 1, 062. 0 305. 0 757. 0 8,351 1928 14, 921 5, 111 108.3 5,003 9,810 1, 285. 3 325. 1 960. 2 8,525 Central reserve city banks— I 1925 : 2,631 1.246 48.2 1,197 1,385 2.9 .3 2.6 1,382 1926 2,844 1,348 32.2 1,316 1,496 4.4 .3 4.1 1,492 1927 2,951 1,525 23.5 1,501 1,427 4.5 .3 4.3 1,422 1928 3,408 1,739 37.7 1,701 1,669 15.5 .3 15.2 1,654 Other reserve city banks— 1925 3,975 1,259 52.9 1,206 2,716 94.9 23.4 71.5 2,621 1926 4,157 1,391 44.5 1,347 2,768 111.0 19.9 91.2 2,655 1927 4,618 1,539 35.8 1, 504 3.079 387.0 77.8 309.2 2,692 1928 4,990 1,787 34.5 1, 752 3,203 510.3 93.8 416.5 2,693 Country banks— 1925 5,986 1,154 58.1 1,098 4,832 538.7 232.1 306.6 4,293 1926 6,321 1,296 54.0 1,242 5,026 609.6 231.9 377.7 4,416 1927 6,279 1,372 50.3 1,321 4,908 670.5 226.9 443. 6 4,237 1928 6,523 1,585 36.1 1,549 4,938 759.5 231.1 528.4 4,178 State bank members: 1925 8,063 3,058 84.2 2,974 5,005 1, 701. 8 3,303 1926 8,738 3,286 75.9 3,211 5,452 1,924. 5 236.8 j 1,687.7 3,527 1927 9,089 3,720 71.1 3,649 5,369 1, 864. 4 172.9 I 1,691.6 3.505 1928 9,382 3,957 69.9 3,887 5,425 1, 782. 9 119.2 ! 1,663.7 3,642 Central reserve city 1 banks— I 1925 2,751 1,611 31.1 1,580 1,139 115.0 1.024 1926 I 2,909 1,637 32.2 1,604 1,273 146.7 2.4 144.3 1,126 1927 I 3,315 1,873 32.0 1, 841 1,442 175.6 2.3 173.3 1,266 1928 j 3,481 1.871 25.3 1,846 1,610 154.3 3.0 151.3 1,455 Other reserve city banks—I 1925 3,468 1,016 34.8 981 2,452 1, 089. 3 1,363 1926 3,830 1,166 30.0 1,136 2,664 1, 212. 2 102.1 1,110.1 1,452 1927 3,673 1,285 25.6 1,259 2,388 1, 088. 9 76.4 1,012.5 1,299 1928 3,667 1,426 37.2 1,389 2,241 1,004. 3 40.9 963.3 1,237 Country banks— 1925 1,845 432 17.4 414 1,414 497.6 916 1926 1,999 484 13.8 470 1,516 565.6 132.3 433.3 950 1927 2,101 562 12.6 550 1,539 599.9 94.1 505.8 939 1928 2,234 660 7.4 652 1,574 624.3 75.3 549.0 950 Includes overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. NOTE.—Figures comparable to the above are not available for earlier dates. Of the total loans of all member banks on June 30, 1923, about $4,650,000,000 was reported as eligible for rediscount at the reserve banks, as compared with about $4,770,000,000 on June 30, 1927, and $4,920,000,000 Digitized foor nF JRuAneS E30R, 1928; figures not available for earlier dates. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS No. 53.—ALL MEMBER BANKS—CLASSIFICATION OF SECURITIES ON JUNE 30,. 1925-1928 [In millions of dollars] Domestic securities Foreign securities All U. S. other T r s i e o t c i t e u a s - l Total m s G r e i e ( r t e o t c i n o n v u e - - s t - - b S n c y i o o u t , p a u n n a a t n d i n l e c - s d , - b o A o th n l e l d r s S s r f b a e t a o F l r n v c e r k k e d e- - r c S o a o t t t r o o h i p o f c e o n k r - s m o r s i A d e t e t h c o i s l e e u l - t s r - ic jTotal m B o g e e f o e i o r g f n n n v o n - d t - r s * s i r n s e i f i e c t i o n i c l g r e g u u n - s d - , tal) municipal Total: 1925 .__ 8,863 8,362 3,781 1,029 2,781 115.0 275.3 381.5 500.5 327.3 173. 2 1926 9,123 8, 625 3, 744 1,149 2, 918 122. 5 327. 2 334. 7 498. 1 300.6 197.5 1927 P 818 9.246 3 796 1,277 3, 343 129. 0 34S. 3 351.8 j 572. 1 316. 3 255. 8 1928 10, 758 10, 032 4,225 1,307 3,512 142.1 407. 3 378.8 726.4 392.3 334.1 Central reserve city banks— 1925 2 012 1,913 1 066 233 476 28.0 73.8 36. 3 S9.2 62.8 36.3 1926 . 2,053 1,987 1,066 250 478 31.6 91.0 69.8 66.1 37. 3 28.6 1927 2 195 2,110 1 080 547 34.1 83.2 78.7 84.8 48. 4 30.5 1928 2,458 2,335 1,314 277 485 40.4 95.4 123.9 123.0 66.9 56.1 Other reserve citv banks— 1925 2 855 2,715 1 331 343 702 38.9 134.0 165.9 140.4 ! 92.6 47.7 1926 „ -. 2,932 2,793 1, 325 406 776 11. 0 149.9 914 139. 3 81.8 57.4 1927 3,191 3, 050 1,408 461 885 43.3 163.1 89.3 141.7 71.4 70.3 1928 3, 535 3,352 1.599 504 917 47.2 190.5 94.3 182.8 95.3 87.5 Country banks— 1925 3 996 3,735 1,385 453 1, 003 47. S 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 1927 4 432 4,087 1 308 530 1,911 51.5 101.9 183.8 345. 6 196.6 149.0 1928 4,765 4,345 1,312 586 2,110 54.4 121.4 160.6 420.6 230.1 190. 5 National bank members: 1925 5, 700 5,338 2,513 594 1,863 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 1927 6,388 5,961 2,593 743 2,215 81.9 92.5 236. 0 426.7 237.8 188.9 1928 7,141 6,592 2,889 839 2,451 91.1 105.1 217.9 549.1 296.4 252. 7 Central reserve city banks— 1925 1,057 994 587 107 239 15.0 23.0 22.8 62.6 40.5 22.1 1926 . . 1,023 984 579 90 237 17.0 26.8 34.5 38.7 21.3 17.2 1927 1, 075 1,027 596 105 246 17.5 19.4 42.5 48.0 27.9 20.1 1928 1,257 1,184 725 117 252 21.5 21.0 47.8 73.6 42.7 30.9 Other reserve city banks— 1925 1,485 1, 406 770 157 353 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 1927 1,846 1,757 920 242 456 24.0 45.5 68.9 88.5 47.2 41.3 1928 2,149 2,033 1,085 284 530 27.8 52.4 53.6 116.2 61.3 54.9- Country banks— 1925 3,158 2. 937 1,156 329 1,270 38.2 21.3 122.1 221.4 145.3 76.1 1926 3,273 3, 024 1,122 370 1,343 39.6 24.4 124.6 248.9 154.0 94.8 1927 3,468 ! 3, 178 1,077 395 1, 513 40.4 27.6 124.6 290.2 162.6 127. 5 1928 3,735 3,376 1,079 438 1,669 41.8 31.7 116.6 359.3 192.3 167. 0 State bank members: 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 I 1,278 503 999 43.7 236.6 100.6 125.7 74. 7 50.9 1927 3,430 i 3.285 | 1,203 535 1.128 47.1 255. 7 115. 8 145.4 78.6 66.9 1928 3,617 3,440 1,336 528 1,061 51.0 302.2 160.9 177.3 95.9 81.4 Central reserve city banks— 1925 954 918 478 126 237 12.9 50.7 13.3 36.4 22.2 14.2 1926 1,031 1,003 | 487 160 241 14.6 64.1 35.3 27.3 15.5 11.3 1927 1,120 1, 083 484 182 301 16.6 63.8 36.1 36.8 20.4 16.3 1928 .- 1,201 1,152 589 160 233 19.0 74.4 76.1 49.3 24.1 25.2 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 I 31.5 23.1 1927 1,346 1,293 488 219 429 19.4 117.6 20.4 53.2 24.1 29.0 1928 1,386 1,319 514 220 387 19.4 138.1 40.7 66.7 34.0 32.7 Country banks— 1925 838 799 1 230 124 332 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 1927 964 909 231 135 398 11.1 74.3 59.2 55.4 33.9 21.5 1928 1,030 969 1 233 148 441 12.6 89.7 44.0 61.2 37.7 23.5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
120 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD REPORTING MEMBER BANKS IN LEADING CITIES No. 54—REPORTING MEMBER BANKS—PRINCIPAL RESOURCES [In millions of dollars. For corresponding series for (a) New York City and (b) other leading cities. Total Loans Investments loans and invest- Onsecu-i - U. S. Other ments Total rities AAllil ootmheprr Total securities securities 19271 Jan. 5-.. 19,865 14, 750 6,086 8,664 5,114 2, 309 2,806 Jan. 12 19, 754 14, 588 5,933 8,655 5,166 2, 330 2,837 Jan. 19 19, 586 14, 442 5,841 8,601 5,145 2,350 2,795 Jan. 26 19, 541 14, 374 5,801 8,573 5,167 2,366 2,801 Feb. 2 19, 592 14,411 5,849 8,562 5,181 2, 362 2,819 Feb. 9 19, 528 14,333 |! 5, 758 8,576 5,194 2,370 2,824 Feb. 16 19, 538 14, 309 5,751 8, 558 5,228 2,383 2,845 Feb. 23 19,576 14, 334 5, 764 8,570 5,242 2,380 2,862 Mar 19 779 14, 489 5, 858 8,631 5,290 2,396 2,894 Mar. 9 19* 775 14, 477 5, 817 8,660 5,298 2,394 2,804 Mar. 16 20,171 14, 584 5,888 8,697 5,587 2,658 2,929 Mar. 23 20,116 14, 567 5,860 . 8,707 I 5, 548 2,588 2,961 Mar. 30 20.105 14, 565 5,910 j 8,655 I 5, 540 2,555 2, 985 Apr. 6 20,114 14, 607 5,932 8, 675 ! 5, 506 2,566 2,941 Apr. 13 20,036 14, 556 5,891 8,665 ! 5,479 2,547 2,933 Apr. 20 20,015 14, 526 5, 918 8, 608 | 5,489 2,554 2,935 Apr. 27 20.106 14, 564 5, 978 8, 587 | 5, 542 2, 595 2,947 May 4 ! 20, 245 14,695 6,044 8,651 5, 550 2, 610 2,939 May 11 | 20, 234 14, 659 5,981 8,678 5,575 2,639 2,936 May 18 j 20, 316 14, 669 6, 039 8,630 5,647 2,659 2,988 May 25 | 20, 298 14,639 3,003 8,636 5,660 2,640 3,020 June 1__ I 20, 432 14,838 6, 204 8, 634 I 5, 594 2,533 3,061 June 8 I 20, 365 14, 792 6,179 8,612 5, 573 2,538 3,035 June 15 I 20, 642 14, 853 6, 230 8,623 5,789 I 2,713 3,076 June 22 I 20, 503 14, 829 6, 210 8,619 j 5,674 I 2,599 3,076 June 29 j 20, 589 14,931 | 6, 279 8,653 j 5,658 j 2,570 3,088 July 6 J 20, 584 14,925 6,291 8,634 j 5,659 2,561 3,098 July 13 ! 20, 370 14, 742 6,152 8, 590 I 5,628 | 2,552 3,076 July 20 I 20, 332 14, 734 j 6,148 8, 585 ! 5,598 j 2,551 3,047 July 27 I 20, 331 14, 726 I 6,175 8,551 | 5,605 j 2, 549 3, 056 Aug. 3_* | 20, 346 14, 794 6,213 8, 582 ! 5,552 2,516 3, 035 Aug. 10 i 20, 384 14,835 6,202 8, 633 j 5, 549 2,510 3,038 Aug. 17 -I 20, 347 14,831 | 6, 206 S,625 I 5,516 2,494 3,023 A A u u g g . . 3 2 1 4 I j 2 2 0 0 , , 4 2 3 7 6 1 1 1 4 4 , , 7 9 6 0 3 3 ! | 6 6 , , 1 2 5 29 7 8 8, , 6 6 0 7 6 4 I j 5 5 , , 5 5 3 0 2 8 2 2 , , 4 5 9 0 2 0 3 3 , , 0 0 1 3 6 3 Sept. 7 20, 426 14,902 j 6, 208 8, 694 5,524 i! 2,485 I 3,039 Sept. 14 I 20.614 11 15,071 j 6,315 8,757 5,542 | 2,495 3,047 Sept. 21 ; 20, 761 15, 121 6. 300 8, 821 5,640 | 2,596 3,043 Sept. 28 | 20, 812 15,169 ! 6,367 8,801 5,643 | 2,607 3,036 Oct. 5 i 20,952 15,302 ! 6,457 8, S45 I 5,650 ! 2,610 3,040 Oct. 12 ; 20, 912 15,251 • 6, 375 8.877 ; 5,661 i 2,617 3,044 Oct. 19 ! 20.936 15,262 j 6. 381 8,881 I 5.674 j 2,627 3, 047 Oct. 26 | 20. 871 15,218 ! 6, 401 8, 817 I 5,654 j 2,614 3,040 Nov. 2 20, 886 15.233 i 6,418 | 8,815 ' 5,652 ! 2, 590 3,062 Nov. 9 20, 963 15.288 ; 6,4.22 I 8, 865 5.675 i 2,585 j 3,091 Nov. 16 - 21, 204 15,324 ; 6,528 8,796 5,880 j 2,779 ! 3,101 Nov. 23 21, 208 15,309 ! 6,507 8,802 5.899 ! 2,797 3,102 Nov. 30 21, 298 15,386 ! 6.585 I 8,801 5,912 j 2,800 3,112 Dec. 7 21. 250 15, 350 I 6, 580 I 8,770 5.900 j 2,803 3,097 Dec. 14 21, 267 15.353 ; 6,621 ! 8, 731 5,914 ! 2,811 3,103 Dec. 21 21, 387 15,408 ! 6.705 j 8,703 5,979 | 2,866 3,114 Dec. 28 21, 409 15,476 ! 6.798 I 8,677 5,934 I 2,802 3,132 Monthly averages: January 19,686 14.538 I 5, 915 8, 623 5,148 j 2,339 2,809 February 19, 558 14,347 ! 5, 780 8,566 5,212 i 2,374 2,838 March 19, 989 14,536 ! 5.867 8,670 5,453 I 2,518 2,935 April 20,068 14.564 i 5,930 8,634 5,504 j 2,565 2,939 May 20, 273 14,666 ! 6,017 8,649 5, 608 ! 2,637 2,971 June 20. 506 14,849 ! 6,220 8,628 5,658 j, 2,591 3,067 July 20, 404 14,781 ! 6, 191 8,590 5,623 jj 2, 553 3,069 August 20, 357 14.825 j 6,201 8,624 5,531 11 2,502 3,029 September 20, 653 15,066 I 6,298 8,768 5,587 | 2,546 3,041 October 20, 918 15,258 l 6,403 8,855 5,660 2,617 3,043 November 21,112 15, 308 «, 492 8,816 5,804 2,710 3,094 December 21, 328 15,396 6, 676 8,720 I 5,932 I 2,820 3,111 1 Comparable figures for previous years not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
121 REPORTING MEMBER BANKS IN LEADING CITIES AND LIABILITIES IN 1927-28, BY WEEKS (REVISED SERIES) with explanation of revision, see Federal Reserve Bulletin for March and January, 1929] Reserve Net demand plus time deposits Borrowwith Govern- ings at Federal Cash in ment Federal r b e a se n r k v s e vault Total N m e a t n d d e- Time deposits r b e a se n r k v s e 1927 1,744 306 19, 055 13, 210 5,845 156 446 Jan. 5. 1,677 295 19, 039 13,175 5,864 120 305 Jan. 12. 1,666 270 18, 863 13,015 5,848 120 248 Jan. 19. 1,600 267 18, 725 12, 867 5,858 120 197 Jan. 26. 1,646 257 18, 818 12,958 5,860 120 222 Feb. 2. 1, 630 270 18, 719 12, 844 5, 875 102 223 Feb. 9. 1,695 253 18, 806 12, 924 5, 882 102 242 Feb. 16. 1,583 281 18, 740 12,804 5,936 104 243 Feb. 23. 1,636 255 18, 960 12,965 5,995 103 279 Mar. 2. 1,629 268 18, 931 12, 923 6.008 92 266 Mar. 9. 1,676 252 19, 201 13,224 5,977 344 190 Mar. 16. 1,706 260 19, 040 13, 062 5, 978 313 309 Mar. 23. 1,680 263 18, 983 12, 996 5.987 303 296 Mar. 30. 1,624 262 19, 026 13, 034 5,992 282 252 Apr. 6. 1,670 269 19, 059 13, 048 6,011 260 280 Apr. 13. 1,646 259 19, 036 13,021 6.015 176 263 Apr. 20. 1,673 263 19, 097 13, 030 6,067 166 286 Apr. 27. 1,718 260 19, 228 13,147 6,081 156 356 May 4. 1,669 265 19, 287 13,185 6,102 129 288 May 11. 1,695 257 19, 346 13, 203 6,143 95 305 May 18. 1,681 259 19, 308 13,180 6,128 91 260 May 25. 1,720 259 19, 541 13, 407 6,134 74 329 June 1. 1,730 268 19, 510 13, 336 6,174 44 241 June 8. 1,810 254 19, 866 13, 715 6,151 209 198 June 15. 1,712 257 19, 409 ; 13,243 6.166 200 269 June 22. 1,746 269 19, 560 : 13,369 6.191 162 306 June 29. 1,686 276 19, 568 13, 387 6,181 132 342 July 6. 1,704 271 19, 514 13, 346 6,168 107 265 July 13. 1,699 254 19,433 | 13,264 6,169 95 246 July 20. 1,671 258 19, 416 13, 225 6,191 96 233 July 27. 1,740 252 19, 488 13, 278 6,210 88 285 Aug. 3. 1, 708 257 19, 563 ! 13,332 6,231 53 261 Aug. 10. 1,662 248 19, 499 13, 270 6,229 40 236 Aug. 17. 1,708 253 19, 384 13,153 6,231 40 257 Aug. 24. 1,691 252 19, 587 13, 346 6,241 40 240 Aug. 31. 1,699 268 19, 574 13, 326 6,248 8 295 Sept. 7. 1,699 270 19, 818 13, 554 6,264 8 224 Sept. 14. ! 1,699 259 19, 501 13, 233 6,268 352 270 Sept. 21, 1, 717 259 19,544 13, 245 6,299 352 278 Sept. 28. ! 1,707 262 19, 742 13, 407 6,335 336 320 Oct. 5. I 1,699 267 19, 755 13, 401 6,354 337 286 Oct. 12. : 1,748 263 19, 791 13, 444 6,347 252 271 Oct. 19. \ 1,724 266 19, 739 j 13,396 6,343 194 254 Oct. 26. ! 1,727 257 19,807 1 13,473 6,334 179 232 Nov. 2. I 1,750 286 19,939 I 13,548 6,391 120 310 Nov. 9. i 1,819 262 20,189 13, 779 6,410 315 233 Nov. 16. 1 1,753 279 20,197 ! 13,743 6,454 111 274 Nov. 23. 1, 755 276 20, 428 13,970 6,458 11 331 Nov. 30. 1 1,763 288 20, 320 13, 919 6,401 6 304 Dec. 7. 1 1,780 313 20, 399 i 14,000 6,399 7 353 Dec. 14. ! 1,774 338 20, 241 13,809 6,432 192 432 Dec. 21. 1,808 316 20, 201 13, 757 6,444 192 463 Dec. 28. Monthly averages: 1,672 284 18,921 13, 067 5,854 129 299 January. i 1,639 265 18, 771 i 12,883 5,888 107 233 February. j 1,665 260 19, 023 13, 034 5,989 231 268 March. | 1,653 263 19, 054 13, 033 6,021 221 270 April. 1 1,691 260 19, 292 13,179 6,113 118 302 May. 1,744 261 19, 577 13,414 6,163 138 268 June. 1,690 265 19,483 13, 306 6,177 108 272 July. 1,702 252 19, 504 13, 276 6,228 52 256 August. 1,703 264 19, 609 13, 340 6,269 180 267 September. 1,719 265 19. 757 13,412 6, 345 280 283 October. 1,761 272 20,112 13, 703 6,409 147 276 November. 1,781 314 20, 291 13, 872 6,419 99 388 December. 41223—29- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
122 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 54.—REPORTING MEMBER BANKS—PRINCIPAL RESOURCES AND fin millions of dollars. For corresponding series for (a) New York City and (b) other leading Total Loans Investments loans and i m nv e e n s t t s - Total c O ur n i t s i e e - s All other Total U c . u r S it . i e s s e- O c t u h r e it r i e s s e - j | 1928 Jan. 4... 21, 629 7,022 8, 652 5,955 2,824 3,131 ! Jan. 11.. 21, 548 6, 806 8,682 6,061 2,923 3,138 Jan. 18. 21, 447 6,742 8,630 6,075 2,965 3,110 Jan. 25.. 21, 348 6, 073 8, 559 6, 116 3,021 3,095 ' Feb. 1__ 21,419 6,769 8,547 6,103 3,018 3,085 '• Feb. 8... 21, 333 6, 634 8,614 6,086 3,010 3,075 ' Feb. 15. 21, 292 6, 566 8,642 6,084 2,998 3,087 i Feb. 21.. 21, 200 6, 510 8,615 6,075 2,985 3,091 Feb. 29. 21, 328 6, 554 8, 667 6,107 2,945 3,161 Mar. 7... 21, 309 6, 510 8,721 6,078 2,935 3,143 j Mar. 14.. 21, 494 6, 614 8,793 6,088 2,924 3,164 Mar. 21.. 21. 555 6, 545 8,805 6,205 3,030 3,175 Mar. 28.. 21, 651 6,675 8,815 6,160 2,986 3,175 Apr. 4 i 21,972 ! 6, 953 8,878 6,141 2,972 3,170 i Apr. 11 I 21,930 ! 6, 875 8, 933 6,122 2,980 3,142 Apr. 18.. _ I 21,958 6, 920 j 8,888 6,149 3,001 3,148 Apr. 25.. 1 21,918 6, 919 8,822 6,147 2, 999 3,148 | Mav 2... 22, 162 i 7,092 | 8,904 6,166 3,021 3,145 i May 9._. 22, 122 I 7,048 ! 8,899 ! 6,174 3,022 3,152 I May 16.. 22,171 j 7,106 ! 8,885 | 6,181 3,014 3,167 i May 23.. 22,124 I 7,035 ! 8, 877 j 6,213 3,029 3.184 ! May 29.. 22,160 7,097 j 8,857 j 6,206 2, 994 3,212 I June 6__. 22, 085 7,052 8, 859 6,175 3.010 ! 3,164 \ June J3.. 22, 115 6,997 8,936 6, 182 3.011 j 3,171 June 20_. 22,049 i| 6, 9LI 8,922 6. 215 3,045 I 3,170 June 27.. 22,005 11 6, 888 8,918 j 6, 199 3,014 I 3.185 : July 3... 22,314 I 16,143 7, 151 j 8, 992 I 6, 170 3.007 3,164 i July 11.. 22,032 I 15, 892 7,003 8,889 I 6, 140 3, 005 3, 135 July 18.. 21,890 I 15, 796 6,854 i 8,943 ! 6,094 2,980 3,114 ] July 25-. 21, 790 | 15,737 6,815 j 8,922 i 6,054 2,952 3,102 | Aug. 1... 22,030 :l 6,954 I 8,963 6,113 3,036 3,077 Aug. 8... 21.846 !l 6,860 | 9, 003 5,983 2,935 3,047 | Aug. 15. _ 21, 765 !'£iii 6,781 9,016 5,968 2,919 3,049 ! Aug. 22,. 21, 686 6, 745 ! 9,011 5,930 2,904 3,026 i Aug. 29.. 21,716 6, 740 9, 051 5,925 2,903 3,022 ! Sept. 5._ 21,833 :j 6, 860 9,046 5,927 2,921 3,007 i Sept. 12. 21,787 !l 6, 814 9, 065 5,908 2,922 2,986 i Sept. 19. 21,980 | 6, 874 9, 066 6,039 3,056 2,984 j Sept. 26_ 21,884 ! 6,811 9, 058 6,016 3,027 2,989 | I Oct. 3.. 21, 926 6,865 9,147 5,914 2, 987 2,927 j Oct. 10. 21, 838 6,807 9,160 5,871 2,975 2,896 i Oct. 17. 21, 972 6,856 9,133 5,983 3,076 2,907 Oct. 24. 21, 924 6,882 9,089 5, 953 3,055 2,898 Oct. 31. 22, 028 6,958 9,119 5,951 3,027 2,924 Nov. 7 21,991 7,031 9,065 5,895 3,009 2,886 Nov. 14 21,875 6,947 9,043 5,885 2,993 2,892 Nov. 21 21, 973 7,104 8.993 5,876 2,972 2,904 Nov. 28 22, 094 7,246 8,954 5,894 2,977 2,917 Dec. 5 22, ISO 7,282 9,009 5, 899 2,978 2,921 Dec. 12 22,068 ,. 7,150 9,038 5,880 2,961 2,919 Dec. 19 22, 233 1 7,129 9,119 5,985 3,059 2,926 Dec. 26 22,264 7, 230 9,054 5,980 3,051 2,929 Monthly average: January 21, 493 6,811 8,631 6, 052 2,933 3.119 j February 21,315 6, 606 8, 617 6, 091 2,991 3,100 i March 21, 502 6,586 8,784 6,133 2,969 3,164 ; April 21, 944 6, 921 8,880 6,140 2,988 3,152 i May 22,148 7, 075 8,884 6,188 3,016 3.172 ! June 22, 063 6,962 8,90S 6,193 3,020 3.173 • July 22, 006 6, 955 8,937 6,114 2, 986 3,129 August 21,809 6, 816 9,009 5, 984 2, 940 3,044 ; September 21,871 6,840 9. 059 5,973 2,981 2,991 : October 21, 938 6, 874 9.130 5, 934 3,024 2,910 ; November 21, 983 7, 082 9,014 5,888 2,988 2,900 December 22,189 7,198 9, 055 5,936 3,013 2,924 ! Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
123 REPORTING MEMBER BANKS IN LEADING CITIES LIABILITIES IN 1927-28, BY WEEKS (REVISED SERIES)—Continued jities, with explanation, see Federal Reserve Bulletin for March and January, 1929] i Reserves Net demand plus time deposits Borrow- F re b w e s d a e i n e t r h r k v a e l C v a a s u h lt in Total dem N a et nd Time d G e m o p v e o e n s r i t n ts - F r in e b e s g d a e s e n r r v k a a t e l 1928 1,846 294 20, 714 14,176 6,538 164 392 Jan. 4. L, 826 282 j 20, 631 14,077 6,554 124 313 Jan. 11. L, 798 255 20,484 13, 924 6, 560 89 291 Jan. 18. ,728 248 20, 336 13, 749 6,587 81 261 Jan. 25. ,777 238 20, 449 13, 855 6,594 77 299 Feb. 1. ,773 251 ! 20, 281 13, 655 6,626 43 339 Feb. 8. ,755 254 1 20, 313 13, 692 6,621 35 360 Feb. 15. ,737 245 '• 20,076 13, 470 6, 606 35 336 Feb. 21. ,749 242 20,310 13, 693 6, 617 34 355 Feb. 29. 1,737 248 20,256 13, 618 6, 638 10 360 Mar. 7. 1,730 248 20,436 13, 773 6, 663 10 352 Mar. 14. 1,701 242 20,143 13,431 6,712 281 353 Mar. 21. 1, 738 242 20, 235 13, 492 6,743 281 383 Mar. 28. 1,773 244 20,556 13, 825 6,731 273 468 Apr. 4. 1,801 249 20, 619 13, 871 6, 748 235 470 Apr. 11. 1,760 239 20, 621 13, 855 6,766 169 469 Apr. 18. 1,797 242 20, 510 13, 707 6,803 117 545 Apr. 25. 1,809 240 20, 745 13,910 6,835 109 585 May 2. 1,797 248 20, 695 13, 808 6,887 72 608 May 9. 1,754 235 20, 738 13, 840 6,898 50 629 May 16. 1,752 245 20,555 13, 644 6,911 38 659 May 23. 1, 742 246 20, 528 13, 598 6, 930 37 737 May 29. 1, 756 247 20, 542 13, 625 6,917 14 773 June 6. 1,758 254 20, 609 13, 681 6, 928 834 June 13. 1, 714 243 ! 20,206 13, 290 6, 916 211 774 June 20. 1, 732 249 20,134 13, 204 6,930 203 803 June 27. 1,780 250 ! 20,438 13, 534 6,904 163 960 Julv 3. 1,741 261 20,183 13, 297 6, 886 122 870 July 11. 1,687 243 19,976 13,146 6,830 93 787 July 18. 1,683 240 19,831 13, 007 6,824 72 799 July 25. 1, 731 234 19,985 13,145 6,840 245 854 Aug. 1. 1,650 243 j 19,662 | 12,838 6,824 194 827 Aug. 8. 1,665 236 19, 741 12, 910 6, 831 185 765 Aug. 15. 1,661 245 19, 608 12, 785 6, 823 148 798 Aug. 22. 1,654 246 19,668 12, 829 6,839 118 787 Aug. 29. 1,659 247 19. 847 13, 019 6,828 94 825 Sept. 5. 1,722 253 j 19,968 13,151 6,817 67 825 Sept. 12. 1,730 245 19, 876 13, 045 6,831 207 861 Sept. 19. 1,685 248 19,830 12, 981 6,849 165 778 Sept. 26. 1, 708 248 20,006 13,182 6,824 99 801 Oct. 3. 1,682 267 19, 991 13,158 6,833 65 770 Oct. 10. .1,717 248 20,100 13, 252 6,848 190 720 Oct. 17. 1,689 252 20,010 13,165 6, 845 142 688 Oct. 24. 1,738 249 20,190 13, 325 6,865 135 703 Oct. 31. 1,699 269 20,151 13, 305 6,846 92 736 Nov. 7. 1,715 265 20, 219 13, 367 6,852 73 641 Nov. 14. 1, 717 253 20, 245 13,396 6. 849 73 585 Nov. 21. 1,725 268 20, 254 13, 408 6,846 54 762 Nov. 28. 1,722 269 20, 342 13, 511 6,831 18 785 Dec. 5. 1,783 289 20, 325 13, 498 6,827 4 793 Dec. 12. 1,709 313 20,167 13, 322 6,845 249 700 Dec. 19. 1,776 326 20,130 13. 266 6,864 198 918 Ded. 26. Monthly averages: 1,799 270 20, 542 13,982 6,560 115 314 January. 1,758 246 20, 286 13,673 6,613 45 338 February. 1,726 245 20, 268 13,579 6,689 146 362 March. 1, 783 244 20, 576 13, 814 6,762 198 488 April. 1,771 243 20, 652 13, 760 6,892 61 644 May. 1,740 248 20, 373 13, 450 6,923 103 796 June. 1,723 248 20,107 13, 246 6,861 113 854 July. 1,672 241 19,733 12, 902 6,831 178 806 August. 1,699 . 248 19,880 13, 049 6,831 133 822 September. 1,707 253 20,059 13, 216 6, 843 126 736 October. 1, 714 264 20, 217 13, 369 6,848 73 681 November. 1,748 299 20, 241 13, 399 6,842 117 799 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
124 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 55.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, RESERVES, AND BORROWINGS AT FEDERAL RESERVE BANKS, 1919-1928 [Series discontinued after 1928; see footnote 1] [Monthly averages of weekly figures. In millions of dollars] Month 1919 1921 1922 1923 1925 1926 19271 ! 19281 Loans and invest- I ments: { January 14,178 16, 637 16,402 14,649 16, 291 16,430 18, 629 19, 502 19,999 21, 917 February. _ I 14,257 16, 607 16,131 14,643 16, 284 16,408 18, 557 19,450 19, 853 21, 737 March ! 14,578 16, 808 16,021 14,572 16,427 16, 513 18, 636 19, 529 20, 267 21, 922 April | 14,559 16,938 15, 733 14,643 16,506 16, 615 18, 657 19,491 20, 340 22, 366 May | 14,886 16, 947 15,466 14, 923 16, 549 16,645 18,616 19, 601 20, 549 22, 568 June I 14,969 16, 926 15,319 15,197 16,491 16, 825 18, 711 19, 692 20, 784 22,486 July _ 14,813 16, 876 15,020 15,209 16,468 17,129 18, 782 19, 662 20, 687 22,430 August 15,214 16, 862 14, 876 15, 328 16, 271 17,450 18, 836 19, 703 20, 646 22, 227 September 15, 577 17,012 14,857 15,401 16, 378 17, 768 19,040 19, 892 20, 951 22, 288 October .. 15,961 17,147 14, 897 15, 687 16,472 18, 242 19, 319 19, 964 21, 227 22,378 November 16,143 16,823 14, 792 15, 771 16, 395 18,426 19,437 19,880 21, 462 22, 494 December 16,337 16,692 14, 797 15,961 16,438 18, 577 19, 547 20,055 21, 728 22, 767 Total loans: January 2 9,837 212, 642 13,046 11,061 11,495 11, 923 13,092 14,052 14, 423 15, 395 February 2 9,677 " 12, 786 12,806 10,883 11, 530 11,918 13,135 13,968 14, 213 15,177 March 2 9,736 213,140 12,661 10,892 11, 723 12,028 13,210 13, 973 14, 388 15,322 April 2 9, 757 13,240 12,379 10,856 11,841 12,079 13,167 13, 920 14, 406 15, 758 May 2 9,935213, 248 12,143 10,898 11,916 12,015 13,139 13, 934 14, 508 15, 906 June 10, 565 2 13,321 11,906 10,875 11,818 12,068 13,194 14,001 14, 689 15, 816 July 10, 713 213, 400 11, 723 10,806 11,821 12,210 13,280 14,006 14, 621 15,842 August 10,880 " 13, 410 11, 558 10,787 11, 704 12,406 13,357 14,080 14, 671 15, 667 September 11,247 13,583 11, 540 10,910 11,845 12, 543 13, 596 14,269 14, 917 15, 834 October 11,806 213, 786 11,529 11,181 11,953 12, 781 13,865 14,377 15,112 15, 961 November 112, 097 13, 468 I11,357 11,236 11,913 12,834 14,006 14,330 15,198 16,127 December 12, 316 2 13,317 11, 281 11,279 11,934 12, 993 14,096 14,470 15, 332 16, 345 Loans on securities: January 4,629 3,603 4,085 4,140 4,890 5,747 5,839 6,711 February 4,396 3,853 3,558 4,011 4,062 4,935 5,642 5,705 6,507 March 4,346 3,813 3,533 4.006 4,070 5,002 5,528 5,790 6,482 April 4,282 3,741 3,549 4,060 4,107 4,979 5,453 5,854 6,821 May 4,195 3,734 3,717 4,106 4,110 5,048 5,468 5,941 6,971 June 4,141 3,697 3,801 4,045 4,200 5,168 o,568 6,146 6,853 July 4,073 3,632 3,787 4,038 4,368 5,249 5,617 6,117 6,845 August 3,979 3,562 3,754 3,883 4,467 5,256 5,643 6,125 6,704 September 4,003 3,559 3,800 3,915 4,558 5,325 5,717 6,221 6,729 October j w 4,047 3,609 3,952 3,937 4,608 5,433 5, 629 6,325 6,768 November | (3) 3,964 3,613 3,995 3,944 4,623 5,569 5,521 6,410 6,973 December j 4,594 4,003 3,657 4,015 4,030 4,800 5,717 5,694 6,594 7,095 All other loans: January (3) 2 8,013 9,118 7,458 7,410 7,783 8,201 8,305 8,585 8,685 February (3) 2 8,390 8,953 7,325 7,518 7,856 8,200 8,326 8,509 8,670 March | (3) 2 8, 794 7,359 7,717 7,957 8,208 8,446 8,840 April ! (3) 2 8, 958 7,307 7,781 7,972 8,188 8,467 8,552 8,937 May -• (3) 2 9,054 8,409 7,181 7,809 7,905 8,091 8,466 8,567 8,935 June I (3) 2 9,180 8,210 7,074 7,773 7,868 8,025 8,432 8,543 8,963 July J (3) 2 9,327 8,091 7,019 7,782 7,842 8,030 8,389 8,504 8,997 August ! (3) 2 9, 431 7,995 7,033 7,821 7,939 8,101 8,437 8,545 9,061 September ' (3) 2 9, 580 7,981 7,110 7,930 7,984 8,271 8,553 9,105 October. _j (3) 2 9, 739 7,920 7,229 8,016 8,173 8,433 8,748 8,787 9,193 November j (3) 2 9, 505 7,744 7,241 7,970 8,211 8,437 8,809 8,787 9,154 December | 27,723 2 9, 314 7,624 7,264 7,904 8,193 8,379 8,776 8,739 9,250 Investments: January 2 4, 341 2 3,995 3,356 3,588 4,796 4,507 5,537 5,450 5,576 6,522 February 2 4, 580 2 3,821 3,324 3, 760 i4,754 4,490 5,421 5,481 5,639 6,560 March 2 4, 842 2 3, 668 3,360 3,680 4,704 4,486 5,427 5,556 5,879 6,599 April 2 4,802 2 3, 698 3,355 3,787 i4,664 4,535 5,491 5,571 5,934 May 2 4, 951 2 3, 699 3,322 4,025 I 4,633 4,630 5,476 5,667 6,041 6,662 Tune 2 4,404 2 3, 606 3,413 4,322 I 4,672 4,757 5,517 5,692 6,095 6,670 July.__. 2 4,100 2 3, 476 3,298 4,403; 4,647 4,919 5,502 5,656 6,066 6,588 August 2 4, 333 2 3,453 3,318 4,541 | 4,567 5,043 5,478 5,623 5,976 6,461 September 2 4,330 2 3, 429 3,316 4,490 I 4,533 5,225 5,444 5,623 6,033 6,454 October 2 4,155 2 3,361 3,368 4,506 j 4,519 5,461 i5,453 5,586 6,115 6,416 November 2 4,046 2 3, 355 3,435 4,535 ! 4,482 5,593 5,432 5,550 6,265 6,367 December 2 4,021 2 3, 374 I3,515 4,682 | 4,504 5,584 5,451 5,585 6,396 6,422 i For revised series, comparable with figures published currently in 1929, see Table 51. 2 Partly estimated. 3 Not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
125 REPORTING MEMBER BANKS IN LEADING CITIES No. 55.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, RE- SERVES, AND BORROWINGS AT FEDERAL RESERVE BANKS, 1919-1928—Con. [Series discontinued after 1928; see footnote 1] [Monthly averages of weekly figures. In millions of dollars] Month 1919 1920 1921 1922 1923 1924 1925 1926 1927191281 Net demand plus time deposits: January... 11, 632 14, 008 13,736 13,379 15, 284 15,407 18,060 18, 561 19, 032 20, 645 February. 11, 538 13,991 13,496 13,309 15, 267 15,422 17, 943 18, 432 18, 884 20, 396 March.. 11, 783 14,170 13,326 13,499 15,184 15,482 17, 839 18,378 19,136 20,376 April 11,841 14,153 13,131 13, 736 15,176 15, 550 17, 796 18, 356 19,167 20,686 May 12,164 14,153 13,191 14,140 15,202 15, 731 17, 877 18, 507 19,404 20, 760 June 12,130 14,178 13,114 14, 457 15,169 16,135 17,973 18, 678 19, 687 20,484 July 12,373 14,170 12, 946 14, 597 15,175 16, 573 18,084 18, 638 19, 593 20, 226 August 12, 693 14, 029 12, 827 14, 572 14, 947 16, 936 18,015 18, 602 19, 616 19,848 September 12, 940 14,063 12, 871 14, 649 15,000 17, 231 18,088 18, 708 19, 723 19,998 October 13, 226 14, 070 13, 063 14, 822 15,128 17, 657 18,351 18, 740 19, 870 20,172 November 13, 582 13, 831 13, 206 14, 766 15,201 17,912 18, 523 18, 720 20, 217 20,337 December 13, 532 13, 636 13, 226 14,836 15,183 18, 005 18,494 18, 910 20,395 20, 373 Net demand deposits: January 10,048 11, 576 10,816 10,362 11, 556 11, 296 13,198 13,190 13,104 14,012 February 9,908 11,482 10, 583 10,275 11,517 11, 270 13, 015 13,015 12, 919 13, 707 A M p a r r i c l h 1 1 0 0 , , 1 1 1 3 5 5 1 1 1 1 , , 6 54 0 6 0 1 1 0 0 , , 4 20 0 1 4 1 10 0 , , 3 5 8 8 6 2 1 1 1 1 , , 2 2 7 0 9 9 1 1 1 1 , , 2 2 9 7 5 8 1 12 2 , , 8 7 6 3 2 8 1 1 2 2 , , 8 9 2 1 5 2 1 1 3 3 , , 0 06 6 9 9 1 13 3 , , 6 8 1 4 1 9 May 10,439 11, 506 10,194 10, 914 11,218 11.420 12, 737 12, 947 13, 215 13, 794 June 10,393 11,499 10,182 11,133 11,173 11, 768 12,800 13, 068 13,449 13,488 July 10, 604 11,466 10,037 11,108 11,194 12,109 12, 916 12, 958 13,340 13,288 August 10, 800 11, 299 9,922 11,002 10, 965 12,390 12,825 12, 893 13,309 12,943 September 10,984 11, 286 9,953 11,071 10,989 12, 624 12,886 13, 020 13,374 13,094 October 11,140 11, 266 10,107 11, 223 11,105 12, 931 13,080 13,024 13,447 13, 255 November 11,330 11,025 10,210 11,116 11,168 13,075 13,180 12,950 13, 734 13,413 December 11, 244 10,823 10, 242 11,141 11,125 13,179 13,168 13,070 13,904 13, 454 Time deposits: January.. 1,584 2,432 2,920 3,017 3,728 4,111 4,862 5,371 5,928 6,634 February 1,630 2,509 2,914 3,034 3,750 4,153 4,928 5,417 5,965 6,690 March 1,669 2,570 2,922 3,113 3,905 4,204 4,977 5,466 6,067 6,764 April 1,706 2,607 2,930 3,154 3,967 4,255 5,058 5,531 6,097 6,837 May 1,725 2,646 2,997 3,226 3,984 4,311 5,140 5,560 6,190 6,966 June 1,737 2,679 2,932 3,324 3,996 4,367 5,173 5,610 6,239 6,996 July 1,769 2,704 2,909 3,489 3,981 4,464 5,168 5,680 6,253 6,938 August 1,893 2,730 2,905 3,570 3,981 4,546 5,190 5,709 6,307 6,905 September 1,956 2,777 2,918 3,579 4,011 4,607 5,202 5,688 6,349 6,905 October 2,086 2,804 2,956 3,599 4,023 4,726 5,271 5,717 6,424 6,916 November 2,252 2,806 2,996 3, 650 4,033 4,837 5,343 5,770 6,483 6,923 December 2,288 2,813 2,984 3,695 4,058 4,826 5,326 5,840 6,491 6,919 Reserve balances: January 1,295 1,431 1,330 1,289 1,450 1,436 1,666 1,675 1,678 1,805 February 1,240 1,406 1,305 1,299 1,437 1,410 1,659 1,655 1,645 1,765 March 1,260 1,411 1,273 1,318 1,407 1,438 1,630 1,652 1,671 1,733 April 1,271 1,420 1,254 1,324 1,400 1,442 1,611 1,642 1,659 1,789 May 1,295 1,402 1,256 1,381 1,411 1,452 1,615 1,650 1,697 1,778 June 1,288 1,402 1,296 1,405 1,403 1, 542 1,625 1,666 1,749 1,747 July 1,306 1,405 1,241 1,414 1,405 1,561 1,630 1,651 1,696 1,730 August 1,336 1,375 1, 212 1,370 1,369 1,598 1, 643 1,643 1,707 1,679 September 1,327 1,384 ! 1,224 .1,357 1,363 1,648 1,642 1,677 1,709 1,707 October 1,383 1,370 | 1,246 1,412 1,384 1,647 1,655 1,632 1,725 1,714 November 1,426 1,334 I 1,258 1,379 1,385 1,641 1,670 1,636 1,767 1,721 December 1, 368 1,330 I 1,266 1,383 1,385 1,694 1,688 1,686 1,787 1,749 Borrowings at Federal reserve banks: January 1,306 1,803 1,947 i 514 343 347 108 318 299 315 February 1,400 2,019 1,878 | 374 402 285 218 351 233 338 March 1,449 2, 053 1.792 | 264 417 245 234 372 268 362 April 1,443 2,069 1,601 j 215 420 258 229 329 270 488 May 1,497 2,085 1,421 161 455 185 191 290 302 June 1,361 1,981 1,267 130 466 131 238 252 271 July 1,454 2,005 1,167 151 552 89 264 315 273 854 August 1,393 2,072 115 516 61 351 335 806 September 1,383 2,117 906 145 545 83 403 428 267 823 October 1,660 2,222 854 240 585 86 437 440 283 736 November 1,763 2,200 723 376 505 75 411 422 276 681 December 1,739 2,132 392 502 145 491 447 799 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
126 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 55a.—REPORTING MEMBER BANKS—PRINCIPAL [Series discontinued after 1928; for figures comparable [In millions of dollars] Loans Investments | Total ! j loans and [ \ invest- j| ments ji Total On ! All other j Total u. s. Other I securities j securities Jan. 4_ 22, 057 15, 631 6,922 8,709 6,426 2,827 3,600 i Jan. 11.. 21, 972 15, 443 6,706 8, 737 6, 529 2,926 3,603 I Jan. 18 ! 21,870 15,326 i 6, 642 ; 8,684 6,544 2,967 3,577 ! Jan. 25 21,769 15,182 [ 6,573 8, 609 6,588 3,023 3,564 : Feb. 1 ! 21,840 , 15,265 ! 6,669 8,596 6,575 i 3,021 3,554 i Feb. 8 i 21,754 ! 15,197 | 6, 534 8.663 6,557 j 3,013 | 3,544 I Feb. 15 | 21,715 15,164 6,466 ' 8,698 0,551 I 3,001 | 3,551 l Feb. 21 21,624 15, 082 6,410 1 8, 672 6,543 i 2,987 3,555 i Feb. 29 I 21,750 15,175 6,454 I 8,721 6,575 | 2,948 3,627 ' Mar. 7 21, 730 15,185 6,406 8, 780 6,545 I 2,938 3,607 l Mar. 14 21, 913 15, 359 6, 510 8,848 6, 554 I 2,927 3,627 | Mar. 21 21, 975 15, 303 6,441 8,863 6,671 3, 033 3,639 I Mar. 28. 22, 070 15, 442 6, 572 8,871 6,627 I 3.639 i Apr. 4 22, 393 15, 787 6, 849 8,937 6,606 2,974 3,632 ! Apr. 11 22, 351 15, 759 6,771 8. 988 6,592 2,983 3,609 ! Apr. 18 22,381 ,, 15, 763 6,817 8,946 6,618 3,004 3.614 ! Apr. 25 22,338 11 15, 722 6,846 8,876 6,616 3,002 3.615 i May 2 22,588 11 15, 951 6,989 8,962 6,637 3,024 3,613 ! May 9 22,546 11 15, 899 6,943 8,955 6, 647 3,025 3, 622 j May 16 22,591 15,937 7,001 8, 936 6,654 3, 017 3,638 j May 23 22, 540 15, 851 6,929 8,921 6,689 3,032 3,658 ! May 29-30 22, 576 15, 893 6,992 8,902 6,683 2,997 3,686 ! June 6 22, 503 15, 851 6,942 8,908 6,653 3,013 3.640 ! June 13 22, 536 15, 878 6,888 8,990 6,658 3,014 3,644 j June 20 22, 477 15, 785 6,802 8,983 6, 692 3,048 3,644 j June 27 22, 429 15, 750 6,779 8,971 6,679 3,017 3, 662 j July 3 22, 736 16, 089 7,042 9,047 6,647 3,009 3,638 I July 11 22, 451 15, 837 6,892 8,946 6,613 3,008 3,605 ! July 18 22, 316 15, 750 6,743 9, 007 6, 567 2,985 J 3,582 j July 25 22, 219 15, 692 6,705 8,987 6,527 2,957 3,570 ! Aug. 1 22,449 | 15,861 6,842 9,018 6,589 3,041 3,548 Aug. 8 22,262 i 15, 803 6,749 9,054 6,460 2,940 3, 520 Aug. 15 22, 184 15, 739 6,669 9,070 6,445 2,924 3,521 Aug. 22 22,106 15, 698 6,634 9,064 6, 408 2,909 3,499 Aug. 29 22,134 I 15, 729 6,628 9,101 6,405 2,908 3,497 Sept. 5 22,252 | 15, 847 6,747 9,100 6,405 2, 925 3,480 Sept. 12 22,206 j 15, 815 6,701 9,114 6, 391 2,927 3,464 Sept. 19 22,399 15, 877 6,761 9,116 6,522 3,060 3,462 Sept. 26 22,295 15, 797 6,707 9,090 6,498 3,038 3,466 Oct. 3 22,337 15,940 6, 759 9,181 6,397 2,992 3,405 Oct. 10 22,262 15, 909 6,701 9,208 6,352 2,979 3.373 i Oct. 17 22,411 , 15, 946 6,750 9,196 6,464 3,081 3,383 I Oct. 24 22,379 I 15, 945 6, 777 9,168 6,434 3,059 3.374 ' Oct. 31 22,499 ||16, 067 6,852 9,215 6,432 3,032 3,400 Nov. 7 22,474 11 16,099 6,919 9,179 6, 376 3,014 3,362 Nov. 14 22,378 16,016 6,835 9,181 6,362 2,998 3,364 i Nov. 21 22,489 |!16,134 6,992 9,142 6, 355 2,977 3.378 j Nov. 28 22,635 ||16, 260 7,144 9,116 6,375 2,982 3,393 i Dec. 5 22,747 11 16, 367 7,179 9,189 6,380 2,983 ! 3,397 j Dec. 12 22, 647 I 16, 279 7,047 9,231 6,368 2,966 i 3,401 Dec. 19. 22,818 | 16, 345 7,026 9,319 6,473 3,064 I 3,408 I Dec. 26 22,857 ! 16, 388 7,128 9,261 6,468 3,056 ! 3,412 ; Monthly average: January 21,917 j 15, 395 6,711 8,685 6.522 2,936 3,586 February 21,737 | 15,177 6,507 8,670 6,560 2, 994 3,566 March 21,922 i 15, 322 6,482 8,840 6,599 2,971 3,628 April 22,366 i 15, 758 6,821 8,937 6,608 2,991 ! 3,617 May 22,568 i 15, 906 6,971 8,935 6,662 3,019 3,643 June 22,486 ' 15, 816 6,853 8,963 6,670 3,023 3,647 July 22, 430 15, 842 6,845 8,997 6,588 2,990 3,599 August 22, 227 15, 766 6,704 9,061 6,461 2,944 3,517 September 22, 288 15, 834 6,729 9,105 6,454 2,986 3,468 October 22,378 15, 961 6,768 9,193 6,416 3,029 3,387 November 22, 494 16,127 6,973 9,154 6,367 2,993 3,374 December 22, 767 16, 345 7,095 9,250 6,422 3,017 3,405 Back figures—See Table 55; also Annual Eeport for 1927 (Tables 42-43), 1926 (Table 88), 1925 (Table 86), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
127 REPORTING MEMBER BANKS IN LEADING CITIES RESOTJKCES AND LIABILITIES BY WEEKS (OLD SERIES) with those published currently in 1929 see Table 54] [In millions of dollars] I . .. Reserves Net demand plus time deposits Borrow- Fe w d i e th ral Cash in G m ov e e n r t n- F in e g d s e r a a t l re b s a e n r k ve Total de N m e a t nd Time deposits re b s a e n r k ve i 1928 I 1,852 296 20, 817 i 14,206 6,611 164 394 Jan. 4. ! 1,832 284 20, 736 j 14,108 6,628 124 314 Jan. 11. ! 1,804 256 20, 589 1 13,955 6,634 89 291 Jan. 18. 1,734 250 20, 440 j 13,779 6,662 81 261 Jan. 25. 1,783 240 20, 555 ! 13,886 6,670 77 299 Feb. 1. 1,779 252 20, 391 ! 13,686 6,705 43 339 Feb. 8. 1, 762 256 20,427 ; 13,729 6,698 35 360 Feb. 15. ! 1,744 247 20,189 ! 13,506 6,682 35 336 Feb. 21. | 1,755 244 20,421 1 13,727 6,693 34 355 Feb. 29. 1, 743 249 20, 365 I 13,651 6,714 10 360 Mar. 7. | 1,730 250 20, 546 i 13,808 6,739 10 352 Mar. 14. ! 1,708 244 20, 251 i 13,462 6,789 281 353 Mar. 21. 1,744 244 20, 339 13, 523 6,816 281 383 Mar. 28. 1,780 245 20, 662 13, 857 6,805 273 468 Apr. 4. | 1,807 250 20, 729 i 13,905 6,824 235 470 Apr. 11. i 1,767 241 20, 731 13, 890 6,841 169 469 Apr. 18. 1 1,804 243 20, 620 13, 742 6,878 117 545 Apr. 25. j 1,816 241 20 8 7 13, 946 6,911 109 586 May 2. ! 1,804 250 20, 802 j 13,843 6,959 72 608 May 9. | 1,763 236 20,847 ' 13,875 6,972 50 629 May 16. i 1,758 246 20, 661 | 13,676 6,985 38 659 May 23. 1, 748 247 20, 631 ! 13,628 7,003 37 737 May 29. 1, 762 248 20, 650 13, 660 6 990 773 June 6. 1,765 256 20, 719 13? 717 7^002 834 June 13. 1,721 245 20, 322 i 13' 332 6,989 211 774 June 20. 1,739 251 20, 247 1 13,244 7,004 203 803 June 27. 1,787 252 20, 551 13, 574 6,977 163 960 July 3. 1,748 262 20, 297 13,338 6,959 122 870 July 11. 1,694 245 20,101 ! 13,190 6,911 93 787 July 18. 1,690 242 19, 956 i 13,051 6,905 72 799 July 25. 1,739 235 20, 099 1 13,186 6,913 245 855 Aug. 1. 1,657 245 19, 777 1 12,879 6,898 194 827 Aug. 8. 1 1,671 237 19, 856 i 12,952 6,904 185 765 Aug. 15. 1, 668 246 19, 723 ! 12,826 6,897 148 798 Aug. 22. 1,661 247 19, 783 12, 871 6,912 118 787 Aug. 29. 1,666 249 19, 964 13,064 6,900 94 827 Sept. 5. 1,731 254 20.089 13,198 6,890 67 825 Sept. 12. 1, 738 247 19, 999 ! 13,094 6,905 207 861 Sept. 19, 1,692 249 19,941 | 13,018 6,923 165 778 Sept. 26. 1,715 250 20, ]16 13, 220 6, 897 99 801 Oct. 3. 1,689 268 20,103 ! 13,197 6,906 65 770 Oct. 10. 1,725 249 20, 212 i 13,291 6,921 190 720 Oct. 17. 1,696 254 20,122 13, 204 6,918 142 688 Oct. 24. 1,745 250 20, 304 13, 364 6,940 135 703 Oct. 31. 1,706 270 20, 266 ! 13,345 6,921 92 737 Nov. 7. 1,722 267 20, 336 I 13,409 6,927 73 641 Nov. 14. 1,724 254 20, 363 ! 13,439 6,924 73 585 Nov. 21. 1,734 269 20, 382 13, 460 6,921 54 762 Nov. 28. 1,729 270 20, 468 13, 562 6,906 18 785 Dec. 5. 1,783 290 20,455 13, 549 6,905 4 793 Dec. 12. 1,709 314 20, 304 13, 381 6,922 249 700 Dec. 19. 1,776 328 20, 266 13, 324 6,942 198 918 Dec. 26. Monthly average: 1,805 271 20, 645 14,012 6,634 115 315 January. 1,765 248 20, 396 13, 707 6, 690 45 338 February. 1,733 247 20, 376 13,611 6,764 146 362 March. 1,789 245 20, 686 13, 849 6,837 198 488 April. 1,778 244 20, 760 13,794 6,966 61 644 May. 1,747 250 20,484 13,488 6,996 103 796 June. 1,730 250 20, 226 13, 288 6,938 113 854 July. 1,679 242 19, 848 12,943 6,905 178 806 August. 1,707 250 19,998 13,094 6,905 133 823 September. 1,714 254 20,172 13, 255 6,916 126 736 October. 1,721 265 20, 337 13,413 6,923 73 681 November. 1,749 301 20,373 13, 454 6,919 117 799 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
128 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 56.—REPORTING MEMBER BANKS—BANKERS' BALANCES, BY WEEKS ; TOTAL, NEW YORK CITY, OTHER LEADING CITIES (REVISED SERIES) In millions of dollars. For corresponding series for 1927, with explanation of revisions, see Federal Reserve Bulletin for March and January, 1929] Due to banks Due from banks Total New C it Y y ork O in th g e r c i l t e ie a s d- Total New C i Y ty ork O in th g e r c i l t e ie a s d- Jan. 4 3,684 1,238 2,446 1,383 134 1,250 Jan.11 3,499 1,148 2,351 1, 248 106 1,142 Jan.18 3,399 1,080 2,318 1,237 111 1,127 Jan.25 3,354 1,081 2,274 1, ISO 99 1,081 Feb. 1 3, 527 1,202 2,325 1,217 111 1,106 Feb. 8 3,351 1,039 2,312 1,148 97 1, 051 Feb. 15 3,396 1,077 2,319 1,244 107 1,137 Feb. 21 3,225 1,008 2,217 1,132 108 1,025 Feb. 29 3, 373 1,162 2,211 1, 166 102 1,064 Mar. 7 3,400 1,098 2,302 1, 141 99 1,042 Mar. 14 3,364 1,128 2,235 1,192 100 1,092 Mar. 21 3,202 1,054 2,147 1,169 121 1,049 Mar. 28 3,201 1,074 2,127 1,141 120 1,020 Apr. 4... _-. 3,400 1,151 2,249 1,248 124 1,125 Apr. 11 3,215 1,044 2,171 1,183 119 1, 064 Apr. 18 _. 3,170 1,025 2,145 1,180 131 1,049 Apr. 25 3,045 992 2,053 1,123 117 1,006 May 2. 3,260 1,107 2.153 1,230 124 1,106 May 9 3,115 1,013 2,103 1,153 114 1,038 May 16 3,089 1,024 2,064 1,188 112 1,076 May 23 2,939 976 1,962 1,098 112 986 May 29 2,917 981 1,936 1,092 111 981 June 6. 2,953 940 2,013 1,109 101 1,008 June 13 2,929 930 1,999 1,148 104 1,044 June 20 __ 2,870 929 1,941 1,130 111 1,019 June 27 2,835 931 1,904 1,078 100 978 July 3. .... 3,145 1,087 2,058 1,220 122 1,098 July 11.. 2,948 932 2,016 1,139 97 1,042 July 18 - 2,838 880 1,958 1,098 93 1,005 July 25 2,811 927 1,885 1,057 94 963 Aug. 1 2,945 1, 019 1,926 1,110 103 1,007 Aug. 8 2,813 1,933 1,023 86 938 Aug. 15 2,798 1,913 1,058 85 973 Aug. 22 2,723 852 1,871 1,037 86 951 Aug. 29-.- 2,727 872 1,855 1,002 78 924 Sept. 5 2,908 935 1,972 1,109 86 1,023 Sept. 12 2,913 935 1,978 1,152 103 1,048 Sept. 19_- 3,008 932 2,075 1,174 112 1,061 Sept. 26 2,963 935 2,029 1,133 107 1,027 Oct. 3 3,174 982 2,192 1,196 98 1,098 Oct. 10 3,031 913 2,117 1,138 88 1,050 Oct. 17 3,150 1,043 2,106 1,231 108 1,123 Oct. 24 2,936 954 1,983 1,129 103 1,026 Oct. 31 3,075 1,069 2,006 1,154 103 1,051 Nov. 7 3,082 987 2.095 1,193 98 1,095 Nov. 14 3,119 986 2,133 1,266 111 1,155 Nov. 21. 3, 000 975 2,025 1,192 115 1,078 Nov. 28 2,960 977 1,983 1,149 106 1,044 Dec. 5 3,089 976 2,113 1,191 103 1,089 Dec. 12 2,996 957 2,038 1,163 101 1,062 Dec. 19. 2,969 946 2,023 1,207 124 1,083 Dec. 26 2,991 945 2,046 1,160 111 1,050 Monthly averages: January 3,484 1,137 2, 347 1, 262 112 1,150 February 3,374 1,098 2,276 1,182 105 1,077 March 3, 292 1,089 2,203 1,161 110 1,051 April 3,207 1,053 2.154 1,184 123 1,061 May 3,064 1,020 2,044 1,152 115 1,037 June 2,897 933 1,964 1,116 104 1,012 July 2,936 957 1,979 1,129 102 1,027 August 2,801 901 1,900 1,046 88 958 September 2,948 934 2,014 1,142 102 1,040 October 3,073 992 2,081 1,170 100 1,070 November 3,040 981 2,059 1,200 108 1,092 December 3,011 956 2, 055 1,180 110 1,070 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 129 BROKERS' LOANS No. 57.—LOANS TO BROKERS AND DEALERS, SECURED BY STOCKS AND BONDS, MADE BY REPORTING MEMBER BANKS IN NEW YORK CITY, BY WEEKS I In millions of dollars] Demand and time loans Demand loans Time loans For For For I For For For 1928 Total o a w c- n o t u o t w -o n f- ot F h o e r rs Total o a w c- n o t u o t w -o n f- ot F h o e r rs Total o a w c- n ou t t o - w o n f- ot F h o e r rs count banks count! banks ! count banks Jan.4. 3,810 1,511 1,371 928 2,970 ,167 1,004 799 840 344 367 129 Jan. 11 3,820 1,321 1,503 996 2,974 976 i 1,127 871 846 345 375 125 Jan. 18._ 3,788 1,260 1, 535 993 2,916 910 i 1,137 869 872 350 398 124 Jan. 25 3,789 1,275 1,472 1,041 2,894 916 ! 1,066 912 895 359 406 129 Feb. 1. 3,816 1,267 1,497 1,052 2,914 912 j| 1,093 909 902 355 404 142 Feb.8 3,835 1,171 1, 554 1,110 2,920 822 !1,136 962 915 350 418 148 Feb. 15 3,819 1,152 1,531 1,136 2,898 803 !1,111 983 922 348 4^0 153 Feb. 22 3,728 1,094 1,495 1,140 2,810 750 1,072 987 919 343 423 152 Feb. 29 3,722 1,149 1,424 1,149 2,812 811 1,006 995 910 338 417 154 Mar. 7 3,696 1,019 1,461 1,215 2,790 690 1,043 1, 056 906 329 418 159 Mar. 14.. 3,746 1,090 1,446 1,210 2,847 766 1,031 1,050 899 324 416 160 Mar. 21 3,779 1,027 1,467 1,285 2,884 706 1,055 1,123 894 321 411 161 Mar. 28 3,825 1,121 1,427 1,278 2,925 802 1, 017 1,107 900 319 410 171 Apr. 4. 3,979 1,265 1,500 1,215 3,074 927 I 1,104 1,043 905 338 395 172 Apr. 11 3,994 1,144 1,649 1,201 3, 068 794 j 1,247 1,027 926 350 402 174 Apr. 18 4,129 1,164 1, 703 1,263 3,174 811 I 1,279 1,084 955 353 424 178 Apr. 25 4,144 1,200 1,614 1,331 3,170 840 I 1,184 1,146 974 360 430 185 May 2 4,282 1,329 1,586 1,366 3,271 957 1,157 1,157 1,011 372 429 209 May 9 4,361 1,252 1,684 1,425 3,325 860 1,250 1,215 1,036 392 434 210 May 16 4,502 1,312 1, 656 1,535 3,452 924 1,230 1,298 1,050 388 426 236 May 23. 4,456 1, 247 1,607 1,602 3,397 856 1,179 1,363 1,059 391 428 239 May 29 4,469 1, 219 1,608 1,642 3,397 832 1,174 1,391 1,073 388 434 251 June 6 4,563 1,167 1,642 1,755 3,496 787 1,210 1,499 1,067 379 432 256 June 13 4,428 1,079 1,618 1,731 3,352 704 1,183 1,466 1,075 375 435 265 June 20 4,270 1,004 1,528 1,737 3,225 649 | 1,1061,470 1,045 355 422 June 27 4,178 941 1,483 1,754 3,161 607 1,073 1,482 1,017 334 410 July3 4,307 1,132 1,494 1,681 3, 261 800 1,070 1,391 1,046 332 425 290 July 11 4,243 942 1,554 1,747 3,201 617 1,134 1,450 1,042 324 421 297 July 18 4,194 820 1,587 1,787 3,182 512 1,193 1,478 1,012 309 395 309 July 25 4,184 824 1,537 1,824 3,185 528 1,149 1,507 999 295 387 317 Aug. 1 4,259 928 1,477 1,854 3,304 655 1,104 1,546 955 273 374 308 Aug. 8 4,274 860 1,528 1,885 3,360 608 1,171 1,581 914 252 358 304 Aug. 15 4,223 783 1,559 1,881 3,362 547 1,215 1,601 ! 861 237 344 281 Aug. 22 4,201 809 1,513 1,880 3,350 575 1,178 1,597 851 234 334 283 Aug. 29 4,235 793 1,535 1,907 3,418 563 1,223 1,632 817 230 312 275 Sept. 5 4,289 907 1,522 1,861 3,482 680 1,220 1, 581 807 227 301 279 Sept. 12 4,385 865 1,599 1,921 3,642 652 1,319 1,671 744 213 280 250 Sept. 19.. 4,470 925 1,634 1,911 3,771 721 1,367 1,683 700 204 268 228 Sept. 26 4,525 850 1,674 2,001 3,842 646 1,421 1,775 683 204 253 226 Oct. 3 4,570 930 1,682 1,958 3,917 739 1,448 1,730 652 190 234 228 Oct. 10 4,590 867 1,715 2,008 3,953 677 1,490 1,785 637 189 225 222 Oct. 17 4,664 890 1,733 2,041 4,048 708 1,524 1,818 616 184 209 222 Oct. 24 4,772 957 1,737 2,078 4,162 770 1,539 1,853 610 187 198 225 Oct. 31 4,907 1,021 1,732 2,154 4,296 828 1,532 1,936 611 192 200 219 Nov. 7 4,979 1,064 1,726 2,188 4,368 867 1,530 1,972 611 197 197 217 Nov. 14 4,981 994 1,751 2,235 4,347 787 1,554 2,006 633 207 197 229 Nov. 21_ 5,157 1,126 1,751 2,280 4,532 908 1,566 2,058 625 218 185 222 Nov. 28 ._ 5,290 1,235 1,768 2,287 4,685 1,016 1,586 2,083 605 219 182 204 Dec. 7 5,395 1,271 1,838 2,285 4,804 1,054 1,660 2,089 591 217 178 196 Dec. 12 5,176 1,045 1,794 2,337 4,601 825 1,621 2,154 575 220 173 182 Dec. 19 5,111 1,030 1,750 2,331 4,551 820 1,576 2,155 560 210 174 176 Dec. 26 5, 091 1,109 1,660 2,322 4,538 904 1,488 2,145 554 205 172 177 Averages: January 3,802 1, 342 1,470 2,938 992 1,083 863 863 350 387 127 February 3,784 1,167 1, 500 1,117 2,871 820 1,084 967 913 347 417 150 March 3,761 1,064 1,450 1,247 2,862 741 1,036 1,084 900 323 414 163 April 4,062 1,193 1,616 1,252 3,122 843 1,204 1,075 940 350 413 177 May 4,414 1,272 1,628 1,514 3,368 885 1,198 1, 285 1,046 386 430 229 June 4,360 1,048 1,568 1,744 3,309 687 1,143 1,479 1,051 361 425 265 July 4,232 929 1,543 1,760 3,207 614 1,136 1,456 1,025 315 407 303 August 4,239 835 1,522 1,881 3,359 590 1,178 1,591 880 245 344 290 September __ 4,417 887 1, 607 1,924 3,684 675 1,332 1,677 733 212 276 246 October 4,701 933 1,720 2,048 4,075 744 1,507 1,825 625 189 213 223 November.. 5,102 1,105 1,749 2,248 4,483 895 1, 559 2,030 618 210 190 218 December.._ 5,193 1,114 1,760 2,319 4,623 901 1,586 2,136 570 213 174 183 Digitized for FBRacAkS FEigRu res.—See Annual Report for 1927 (Table 46). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
130 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 58.—BROKERS' BORROWINGS, 1926-1928 {Net borrowings on collateral in New York City as reported by members of the New York Stock Exchange] [In millions of dollars] On demand and on time On demand On time From From From From I From New private New private !! New From Date York banks, York banks, I1 York private banks brokers, banks brokers, i |j banks, banks, Total and foreign Total and foreign Tl ottal ' trust foreign trust banking trust banking com- banking p c a o n m ie - s ci a e g s, e n e - tc. p c a o n m ie - s ci a e g s, e n e - tc. pa e n t i c e . s, ci a e g s e , n e - tc. 1926 Jan.30 3,513 3,043 470 2,517 2,123 394 920 76 Feb. 27 3,536 3,080 455 2,495 2,123 372 1,041 958 Mar. 31 3,000 2,553 447 2,033 1,678 355 967 875 Apr. 30 2,836 2,468 367 1,970 1,699 271 866 770 May 31 2,767 2,392 375 1,987 1,703 285 780 690 90 June 30 2,926 2,509 417 2,225 1,852 374 701 657 43 July 31 2,583 415 2,283 1,918 365 715 665 50 Aug. 31. _.| 3,142 2,698 444 2,364 1,984 379 778 713 65 Sept. 30. 3,219 2,745 474 2,419 2,021 398 800 724 76 Oct. 30.. 3,111 2,668 444 2,289 1,924 365 822 743 78 Nov. 30. 3,129 2,636 493 2,330 1,932 397 800 704 96 Dec. 31.. 3,293 2,804 2,542 2,128 414 751 676 76 1927 Jan.31. 3,139 2,670 469 2,328 1,964 365 810 707 104 Feb. 28.. 3,256 2,757 499 2,475 2,085 391 781 673 108 Mar. 31 _ 3,290 2,790 500 2,505 2,112 393 785 679 107 Apr. 30.. 3,341 2,865 476 2,541 2,146 395 800 719 81 May 31. 3,458 2,968 490 2,674 2,254 420 784 713 70 June 30.. 3,569 3,065 504 2,757 2,316 441 812 749 63 July 30.. 3,642 3,145 497 2,765 2,343 421 877 802 76 Aug. 31.. 3,674 3,170 504 2,746 2,330 415 928 840 89 Sept. 30. 3,915 3,340 575 3,018 2,539 479 897 801 96 Oct. 31.. 3,946 3,363 583 3,023 2,549 475 923 814 108 Nov. 30. 4,092 3,519 573 3,134 2,675 459 958 844 113 Dec. 31__ 4,433 3,812 621 3,481 2,963 518 952 849 103 1928 Jan. 31. 4,420 3,805 615 3,393 2,882 511 1,027 923 104 Feb. 29.. 4,323 3,737 585 3,294 2,807 488 1,028 931 98 Mar. 31. 4,640 3,947 693 3,580 3,016 564 1,060 931 129 Apr. 30.. 4,908 4,246 662 3,739 3,201 537 1,169 1,045 124 May31_. 5,274 4,568 707 4,070 3,455 616 1,204 1,113 91 June 30.. 4,898 4,169 730 3,742 3,122 619 1,157 1,046 110 July 31... 4,837 4,150 687 3,768 3,183 585 1,070 967 102 Aug. 31.. 5,051 4,260 791 4,094 3,420 674 958 840 117 Sept. 29. 5,514 4,647 4,690 3,939 751 824 709 116 Oct. 31__. 5,880 4,994 5,116 4,360 756 764 634 130 Nov. 30. 5,412 I 979 5,614 4,771 843 777 641 136 Dec. 31_. 6,440 5,401 1,039 5,722 4,810 913 717 591 126 Back figures.—See Annual Report for 1927 (Table 47) for figures for 1918-1922; figures for 1923-24 not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
131 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING No. 59.—BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING, BY MONTHS, 1922-1928 [In millions of dollars] Bankers' acceptances outstanding l Commercial paper outstanding 2 End of month 1922 1923 1924 1925 1926 1927 1928 1922 1923 1924 1925 1926 1927 1928 January 835 788 774 1,058 705 807 818 820 654 551 577 February.. ._ 808 767 785 1,056 718 838 867 820 655 577 567 March 416 524 618 800 746 809 1,085 760 864 889 813 668 605 570 April 757 721 811 1,071 792 867 871 801 663 599 571 May 680 685 775 1,041 791 888 852 776 668 582 541 June_ 608 622 751 1,026 795 885 864 759 652 579 503 July 569 600 741 978 805 854 879 727 655 569 483 August 555 583 782 952 807 831 911 722 638 591 458 September 607 614 864 1,004 805 803 915 708 612 600 430 October 674 682 975 1,123 775 815 925 684 593 611 427 November 690 726 1,029 1,200 748 799 888 666 566 603 421 December 821 774 755 1,081 1,284 722 763 798 621 526 555 383 1 Figures collected and compiled by American Acceptance Council. 2 Paper maturing within 7 months. Figures reported by about 25 dealers to the Federal Reserve Bank of New York. No. 60.—BANKERS* ACCEPTANCES OUTSTANDING, BY CLASSES,1 1928 [In thousands of dollars] Imports and exports on goods End of month Total Total Imports Exports Do t m ic es- c W h r o e a u d r s i e t e - s c D h o e a x l n l - g ar e b s s e h i t t i n o w p r p o e e e r e d d n foreign countries 1928 January 1,057,980 704,060 318,253 385, 807 21,035 172,819 30,345 129, 721 February 1,056,390 702,454 319,740 382,714 19,053 167, 631 28,995 138,257 March 1,085, 469 717,088 328,449 388, 639 21,075 165,906 29,170 152, 230 April 1,070, 712 712,498 333,062 379,436 19, 240 152,677 25,034 161, 263 May 1,040, 735 701, 292 317, 930 383,362 18,910 133,115 25,434 161,984 June 1,026,165 690,169 329, 486 360, 683 19, 899 117, 277 25,205 173,615 July 977, 864 670,929 319,045 351,884 17,803 99,845 24,861 164,426 August 952,051 668, 963 316, 343 352, 620 15,305 92, 260 23,807 151, 716 September 1, 004,166 690,825 320,909 369,916 15,088 99,433 27,980 170,840 October 1,122,747 730,393 313,925 416,468 15,327 138,318 31, 577 207,132 November 1, 200,356 765,945 317,438 448, 507 17, 968 162,812 32,414 221,217 December 1, 284,486 812, 267 315, 614 496, 653 16,198 173,590 39,153 243, 278 i Figures collected and compiled by American Acceptance Council. Back figures.—See Annual Report for 1927 (Table 49). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
132 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 61.—DISTRIBUTION OF BANKERS' ACCEPTANCES OUTSTANDING, 1927 AND 1928 [In thousands of dollars] Held by F. R. banks For End of month foreign by H o e t l h d ers correspondents2 1927—January... 773,604 94,125 I 362, 286 February.. 785,488 92,674 ' 399, 318 March 809, 446 147,677 425, 685 April 810, 966 146, 805 427, 657 May. 774, 720 159, 927 388, 950 June 751, 270 146,106 407, 312 July 741, 258 151, 258 431, 507 August 782,055 165,748 445, 380 September 863, 823 188, 254 435, 027 October. __ 975,167 189, 273 447,113 November. 029, 490 186,186 490, 243 December. 080, 581 228,687 461,395 1928—January... 057, 980 614, 308 377,105 237, 203 443, 672 February. 056, 390 581, 019 342,202 238, S17 475, 371 March 085, 469 589, 517 347,888 241, 629 495,952 April 070, 712 616, 645 355,172 261, 473 454,067 May 040, 735 558, 226 290,690 267, 536 482, 509 June 026.165 523, 962 216,248 i307, 714 502, 203 July 977,864 467,177 161,527 i305, 650 510, 687 August 952, 051 469,194 |190,862 278, 332 482,857 September 004.166 548,425 283,014 265, 411 455, 741 October... 122, 747 689, 814 438,873 250,941 432, 933 November 200, 356 748, 205 484,763 263, 442 452,151 December. 284, 486 812, 214 487,515 324, 699 472, 272 1 Reserve bank holdings of "Bills bought," exclusive of (1) trade acceptances and (2) bills payable in foreign currencies. 2 Contingent liability of Federal reserve banks on bills bought for foreign correspondents. BANK DEBITS No. 62.—DEBITS TO INDIVIDUAL ACCOUNTS, BY BANKS IN 141 PRINCIPAL CITIES, BY MONTHS, 1920-1928 [In millions of dollars] Month 1920 1921 1922 1923 1924 1925 1926 1927 1928 TOTAL, 141 CITIES January 45,367 38,029 34, 944 41, 753 41, 498 49, 982 54,145 54, 714 62,885 February 35,788 29,728 30,585 35, 925 37, 398 41,517 44,915 48, 220 54,494 March 43,431 33, 903 36,932 42,185 40, 739 47, 623 56,464 58, 518 70, 633 April 41,644 32,235 36,388 39,294 39,519 44,558 51,837 55, 583 67,003 May,_ 39,257 32, 512 37,976 40,072 40,044 46, 596 48,020 54,143 71, 616 June. 40, 347 33, 606 39, 236 40,574 40.230 48, 631 50, 662 56,820 72, 485 July 39,868 31,515 36,056 36,504 40,131 47,037 50,959 53, 682 58, 981 August 36,275 30,097 34,136 33,496 38, 692 43,134 47,011 53, 702 58,504 September 37, 378 31, 625 35, 768 34,060 38,972 45,264 46,954 56, 750 63,176 October 41,028 34,323 40, 745 38, 911 43,418 52,955 52,535 59, 201 72, 894 November . 39, 696 33,441 36,160 38, 504 41,893 48, 367 47,384 57, 085 71, 349 December 42,948 38,020 40,437 42,448 49,157 54, 399 57,070 65, 441 82,386 Total 483,026 699,036 439, 364 463,726 491,691 570,064 607,956 673, 861 806, 406 140 CITIES (EXCLUDING NEW YORK CITY) January 21,731 17, 996 15,879 19, 666 19, 384 22, 301 23, 607 23,456 25, 001 February _-. 17,734 14, 599 14, 042 16,906 17,512 18, 593 20,102 20, 781 21, 755 March 21,146 16,550 16, 535 19, 644 19,193 21, 240 23,458 24, 026 25,847 April. 20, 324 15, 886 15, 671 18,816 18, 865 20, 613 22, 537 23,576 25, 225 May 19, 676 15,342 16, 322 19,368 18, 639 20,417 21,449 22, 873 26, 346 June... 20,541 15,852 17,173 19, 532 18, 304 21, 702 22, 466 23, 812 27,029 July 20,805 15,175 16, 343 18,184 18, 662 21, 580 23, 300 22, 932 23,897 August. 18, 904 14,911 15, 849 17,307 17,776 19,869 20,778 22, 048 23, 401 September 19,779 15,523 16, 553 17, 261 18,238 20, 895 21,336 23,381 24, 450 October 20,891 16, 713 18,423 19,759 20,912 24,039 23,780 25, 111 27, 705 November 19, 525 15,949 17,133 18, 521 18,846 21. 357 21, 593 23,803 25,880 December 20, 540 17,446 19, 586 20,367 21,830 24,085 24,493 26, 503 29,659 Total 241, 596 191,941 199,509 225,330 228,161 256, 691 268, 900 282,303 306,195 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 133 BANK SUSPENSIONS Figures for suspensions represent banks closed permanently or temporarily by order of supervisory authorities or by the directors of the banks on account of financial difficulties. No. 63.—BANKS SUSPENDED AND REOPENED, BY YEARS, 1921-1928 Banks suspended Banks reopened Class of bank and year Number Capital ! Deposits All banks: 1921— 502 $22,902,000 $198, 354, 000 60 $1, 918,000 $17,493,000 1922 354 13, 743, 000 110, 721,000 65 4,003,000 35, 565,000 1923.... 650 21,978,000 188, 805,000 36 1, 506, 000 11, 567,000 1924.... 777 28, 373,000 213,444,000 94 2,815,000 22,462,000 1925.... 612 24, 441,000 172,900,000 62 1,994,000 16, 616,000 1926—. 956 32,804,000 272,488, 000 147 5, 099,000 60,180,000 1927.... 662 24, 763, 000 193, 891,000 95 3, 906,000 35,729,000 1928.... 491 19, 715,000 138,642, 000 39 1, 540, 000 15,727,000 Member banks: 1921 70 5,369,000 42, 503,000 475,000 3,132,000 1922 57 3,956,000 24, 243,000 1, 580,000 11, 618, 000 1923. 124 6,845,. 000 51, 228,000 685,000 5,068,000 1924 159 10,305,000 | 74, 469,000 860,000 7,190,000 1925... 146 9, 920,000 67, 264,000 800, 000 6, 779,000 1926. 160 8, 569,000 68, 812,000 710,000 8,179,000 1927 124 8,034,000 66, 336,000 845,000 8,311,000 1928 73 5,175, 000 42, 240, 000 325, 000 6,610,000 National banks— 1921 51 3,060,000 21, 285,000 325,000 2,499,000 1922_ 45 3, 335,000 19,092,000 22 i 1, 330,000 8,076,000 1923 _. 90 4, 610,000 32,904,000 11 570,000 3,973,000 1924... 122 7, 660,000 60, 889,000 If I 785,000 6,895,000 1925 118 7, 970, 000 58, 537,000 700,000 6,300,000 1926 125 6,020,000 47, 866,000 490,000 4,665,000 1927 91 5, 415,000 46, 581,000 10 ! 485,000 5,073,000 1928 57 4, 200, 000 31,619,000 8 i 75, 000 417,000 2 State banks— 1921. 19 2, 309,000 21, 218,000 150,000 633,000 1922 12 621, 000 5,151, 000 250,000 3, 542,000 1923 34 2, 235, 000 18,324,000 115,000 1, 095,000 1924. 37 2, 645, 000 13, 580, 000 75,000 295,000 1925 28 1, 950,000 8, 727,000 100,000 479,000 1926.. 35 2, 549, 000 20,946,000 220,000 3, 514,000 1927 33 2, 619,000 19, 755,000 360,000 3, 238,000 1928 16 975,000 10, 621, 000 250,000 6,193, 000 Nonmember banks: 1921. 432 17, 533, 000 155, 851,000 50 1, 443,000 14, 361,000 1922 297 9, 787,000 86,478,000 41 2,423,000 23,947,000 1923 526 15,133,000 137, 577,000 22 821,000 6,499,000 1924 618 18,068, 000 138,975,000 74 1,955,000 15, 272,000 1925- 466 14, 521,000 105,636,000 48 1,194,000 9,837,000 1926... 796 24, 235,000 203, 676,000 133 4,389,000 52,001,000 1927 538 16, 729, 000 127, 555,000 84 3,061,000 27,418,000 1928... 418 14, 540,000 96, 402, 000 34 1,215,000 9,117,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
134 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 64.—BANK SUSPENSIONS, BY MONTHS, 1921-1928 [Amounts in thousands of dollars! Nonmember All banks Member banks banks Month Total National State Num- De- Lm- Deber posits Num- De- Num- De- Num- De- er posits ber posits ber posits ber posits 1921 January 23, 301 6 2,094 1,260 834 53 21,207 February 25,202 3 2,134 1,495 639 24 23, 068 March 17,867 7 2,700 2,525 175 38 15,167 April 9,653 4 1,469 1,469 40 8,184 May 13,957 5 2,662 2,197 465 34 11, 295 June 17, 543 3 10, 580 86 10,494 17 6,963 July 12, 315 4 4,207 227 23 8,108 August.. 6,493 4 1,094 1,064 30 31 5,399 September. 4,804 4 755 568 187 27 4,049 October 15,972 11 6,554 4,951 i 1,603 46 9,418 November. 18,825 8 2,791 2,232 559 53 16, 034 December.. 32,422 11 5, 463 3,211 2, 252 146 26,959 1922 January 13,873 6 1,973 1,882 91 45 11,900 February 20,024 9 3,499 3,499 34 16, 525 March 15,196 3 4,201 461 2 3 740 30 10,995 April 9,404 3 1,236 1,236 25 8,168 May_._. 8,430 2 605 605 23 7,825 June 4,389 3 1,885 1,843 1 42 14 2,504 J A u u l g y u .. s . t . . . . 4 7, , 7 0 3 71 3 oO 4 1,4 8 2 9 9 0 1, 7 2 2 5 4 6 1 1 1 1 6 7 6 3 2 1 4 1 6 3 , , 3 1 0 81 4 September . 3,223 2 305 305 15 2,918 October 5,072 9 2,493 2,081 412 19 2,579 November. 10,105 3 1,612 1,437 175 32 8,493 December.. 9,201 10 4,115 3,763 352 125 5,086 1923 January 9,032 7 1,539 485 1,054 34 7,493 February 9,240 7 2,486 1,704 782 34 6,754 March 14,629 11 4,371 3,145 1,226 35 10, 258 April 7,887 5 980 980 23 6,907 May 7,961 7 4,010 1,348 2,662 23 3,951 June 14,110 8 2,733 2,513 220 24 11,377 July 13,353 6 1,525 1,137 30 11,828 August- 15,946 5 2,938 2,143 795 41 13,008 September. 11,367 7 1,842 1,842 44 9,525 October 21, 534 10 3,907 1,960 1,947 58 17,627 November. 110 30,617 28 11,618 20 6,760 4,858 82 18,999 December.. 121 33,129 23 13, 279 8,887 4,392 198 19,850 1924 January 145 45,403 35 15,889 11,183 4,706 110 29,514 February 92 26, 501 24 12, 703 8,401 4,302 68 13,798 March 69 15,667 18 6,121 5,747 374 51 9,546 April 74 17,843 10 3,918 3,918 64 13,925 May 81 29,861 8 7,053 7,053 73 22,808 June 51 9,033 ! 11 3,727 10 3,710 1 17 40 5,306 July 47 16,620 i 7 8,088 7,993 1 95 40 8,532 August.. 34 7,545 ! 7 2,838 2,444 2 394 27 4,707 September- 36 6,081 I 2 315 315 34 5,766 October 39 9,824 9 2,878 2,792 30 6,946 November _ 47 10, 418 13 3,684 2,880 804 34 6,734 December.. 62 18,648 I 15 7,255 4,453 2,802 47 11,393 1 Includes banks for which month of suspension was not reported, as follows: 1921, 3; 1922, 1; 1923, 8. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BANK SUSPENSIONS 135 No, 64.—BANK SUSPENSIONS, BY MONTHS, 1921-1928—Continued [Amounts in thousands of dollars] All banks Member banks Non b m an e k m s ber Month Total National State Num- ! De- Num- Deber I posits NTum- De- Num- De- Num- De- ber posits ber posits ber posits ber posits 1925 January. 103 25,477 32 10, 824 23 8,044 9 2,780 71 14, 653 February 61 | 15,593 17 5,252 16 5,074 1 178 44 10, 341 March 43 10,142 7 2,969 6 2, 943 1 26 36 7,173 April 48 ! 16,055 15 6,475 13 5,892 2 583 33 9,580 May 54 I 15,930 14 8,116 9 5,477 5 2,639 40 7,814 June 34 i 10,368 4 2, 377 3 2,304 1 73 30 i 7,991 July 29 ! 5,882 3 1,376 3 1,376 26 4,506 August.. 14 I 1,837 3 601 2 542 1 59 11 1,236 September. 30 j 14,141 6 6,871 5 6,571 1 300 24 7,270 October 53 15,581 13 6,620 10 6,177 3 443 40 8,961 November. 74 19,791 11 5,533 10 4,883 1 650 63 14, 258 December.. 69 ! 22,103 21 10, 250 18 9, 25,4 3 996 48 11,853 1926 January 65 ! 13,384 3,992 i 7 2,701 4 1,291 54 9,392 February 52 j 11,763 2,861 8 2,475 2 386 42 8,902 March 51 ! 10,249 710 | 5 523 1 187 45 9,539 April 56 ! 12,512 3,534 ! 5 1,322 1 2,212 50 8,978 May.... 16, 324 4,234 I 9 3,338 1 896 58 12,090 June 34,229 5,318 I 13 4,138 3 1,180 61 28,911 July 140 48, 618 1,637 i 4 1,337 1 300 135 46,981 August -. 52 10,001 2,127 I) 9 2,127 43 7,874 September. 12,050 4,317 3,890 1 427 29 7,733 October 18, 209 6,280 14 5,165 5 1,115 69 11, 929 November. 154 19,389 27 14, 334 6 5,055 121 26, 594 December.. 116 39,166 14, 413 17 6,516 10 7,897 89 24, 753 1927 January 133 32, 038 11, 555 18 5, 662 9 5,893 106 20, 483 February 81 25,157 8,744 14 7,566 2 1,178 65 16,413 March 75 31, 222 7,700 11 5,501 5 2,199 59 23, 522 April 49 11, 750 5,462 6 3,769 4 1,693 39 6,288 May 47 13.198 6.434 8 5,564 3 870 36 6,764 June 41 10, 784 5,521 8 1,932 1 3,589 32 5, 263 July 37 12,162 2,638 2 2,638 35 9,524 August. 27 17, 364 8,881 4 8,670 1 211 22 8,483 September. 8,988 6 1,257 2 504 4 753 30 7,731 October 11,542 3,729 7 2,101 2 1,628 35 7,813 November. 43 j 11,210 6 3,105 5 1,413 1 1,692 37 8,105 December.. 49 I 8,476 7 1,310 6 1,261 1 49 42 7,166 1928 January 10, 983 8 2,552 7 1, 736 1 816 45 8,431 February 18, 352 11 9,373 7 3,162 4 6,211 39 8,979 March 16, 953 9 3,026 6 1,783 3 1,243 57 13, 927 April 43 8,190 6 2,446 5 2,294 | 1 152 37 5,744 May_._. 6,394 5 , 1,927 5 1,927 ! 24 4,467 June 13, 496 2 1,819 1 1,620 ! 1 199 26 11,677 July 5,368 2 413 1 174 1 239 22 4,955 August.- 6,147 4 1,944 4 1,944 17 4,203 I September. 20 7,888 4 2,997 3 2,430 j 1 567 16 4,891 October..-. 41 9,011 3 803 2 320 | 1 483 38 8,208 Novembet- 72 24,784 9 11,021 8 10,609 i 1 412 63 13, 763 December.. 44 I 11,076 10 3,919 8 3,620 2 299 34 7,157 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
136 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 65.—BANK SUSPENSIONS: NUMBER, CLASSIFIED ACCORDING TO CAPITAL. STOCK ALL BANKS Banks having capital stock of— 1921 1922 1923 1924 1925 1926 1927 1928 Less than $25,000 . 194 117 296 320 234 384 247 191 $25 000 104 85 152 191 135 230 165 106 $25,001 to $50,000 31 39 49 55 46 100 60 38 $50,000 to $100,000 78 53 91 130 133 164 122 94 $100,000 to $200,000 _ _ 48 24 32 61 43 46 47 46 $200,000 to $600,000, inclusive .._. 1 16 15 2 16 15 18 16 13 11 Not available. 31 21 14 5 3 16 8 5 Total 502 354 650 777 612 956 662 491 NATIONAL BANKS $25,000 23 14 41 44 41 46 31 15 $25,001 to $50,000 2 5 10 9 5 20 6 3 $50,000 to $100,000 14 13 26 42 46 45 40 24 $100,000 to $200,000 9 7 9 19 15 12 12 10 $200,000 to $600,000, inclusive. 3 6 4 8 11 2 2 5 Total 51 45 90 122 118 125 91 STATE MEMBER BANKS Less than $25,000 $25,000 13 3 $25,001 to $50,000 4 2 $50,000 to $100,000 4 6 $100,000 to $200,000 8 5 $200,000 to $600,000, inclusive. 4 Total. 19 34 37 I 28 35 ! 33 16 NONMEMBER BANKS Less than $25,000 194 117 296 320 233 247 ; 191 $25,000 79 67 100 138 83 179 121 : 88 $25,001 to $50,000 26 29 37 I 42 40 I 73 50 ! 33 $50,000 to $100,000 57 39 51 | 78 79 107 78 64 $100,000 to $200,000.... 34 16 19 30 23 27 27 31 $200,000 to $600,000, inclusive. 4 11 8 29 5 5 12 Not available 31 21 14 I 5 3 : 16 Total. 432 297 526 | 618 466 796 538 418 1 Includes 3 banks with capital of $1,000,000 and 1 with $1,309,000. 2 Includes 1 bank with capital of $750,000. 3 Includes 1 bank with capital of $1,000,000. * Includes 2 banks with capital of $1,000,000 and 1 with $1,309,000. No. 66.—BANK SUSPENSIONS, BY SIZE OF TOWN OR CITY-, 1921-1928 Number of suspensions Places with population of— 1921 1922 1923 1924 1925 1926 1927 1928 Less than 500.. 181 120 332 335 226 372 266 207 500 to 1,000 99 75 105 158 130 204 142 93 1,000 to 1,500... 47 23 58 71 67 115 61 48 1,500 to 2,500.-. 39 44 55 75 56 88 65 52 2,500 to 5,000_.. 33 30 35 55 60 79 53 33 5,000 to 10,000.. 33 18 24 29 32 30 22 18 10,000 to 25,000. 21 12 14 22 18 22 30 17 25,000 and over. 49 32 27 32 23 46 23 23 Total 502 354 650 777 612 956 662 491 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 137 CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM No. 67.—SUMMARY OF CHANGES IN MEMBERSHIP, BY YEARS, 1925-1928 Number of banks 1925 1926 1927 1928 Active member banks, first of year. 9,587 9,489 9,260 9,034 Banks joining the system ! ___ ... 237 174 154 115 Banks withdrawing from the svstem2 100 125 101 120 Net accession to membership . 137 49 53 3 _5 Banks lost to membership through mergers between member banks, suspensions, etc 235 278 279 192 Net decrease for the year 98 229 226 197 Active member banks, end of year.. 9,489 9,260 9,034 8, 837 1 Not including nonmember banks absorbed by member banks without effect on the number of banks in system. 2 Including withdrawals which were incidental to the absorption of member banks by existing nonmember banks as follows: 1925, 42; 1926, 44; 1927, 55; 1928, 59. 3 Net loss owing to withdrawals. Back figures.—Qee Annual Report for 1925 (Table 93). No. 68.—CHANGES IN MEMBERSHIP, BY CLASS OF MEMBER, 1927 AND 1928 Number of member banks Procedure effecting change Total National State 1927 1928 1927 1928 1927 1928 Active member banks, first of year 9,260 9,034 7,906 7,759 1,354 1,275 Additions to membership: Organization of national bank 82 70 82 70 Conversion of nonmember bank to national 32 17 32 17 Admission of State bank 29 23 29 23 Resumption following suspension 10 5 8 2 2 3 Conversion within the system.. .. .. ___ _ 18 15 13 1 4 All other 1 21 Total additions 154 115 131 94 34 30 Losses to membership: Merger between member banks— Intraclass 110 78 96 70 14 8 Interclass _ __ __ ______ ___ 36 30 19 19 17 11 Voluntary liquifiatifvn (torTnina.1) n 9 8 6 1 3 Suspension and insolvency 124 72 91 56 33 16 Absorption of member bank by nonmember bank. 55 59 49 50 6 9 Conversion of member bank to nonmember bank- 20 24 12 19 8 5 Withdrawal of State bank 26 40 * 26 3 40 Conversion within the system ._ 13 14 18 15 Total losses 380 312 278 224 113 97 Net decrease 226 197 147 130 79 67 Active member banks, end of year 9,034 8,837 7,759 7,629 1,275 1,208 1 Conversions between two classes of member banks, without effect on the number of banks in the system. 2 National bank organized to succeed a national bank that had previously suspended. 3 Includes 3 compulsory withdrawals. 4 Includes 2 banks which were dropped from membership in the system at the expiration of their State charters. Back figures.—See Annual Reports for 1927 (Table 117), 1926 (Table 97), and 1925 (Table 93). 41223—29 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
138 ANNUAL KBPORT OF THE FEDERAL RESERVE BOARD EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS No. 69.—MEMBER BANKS—EARNING ASSETS, CAPITAL FUNDS, AND PROFITS, 1923-1927 Amounts l (in thousands of dollars) Principal earning assets Year ending Dec. 31 Invest- Total Loans ments All member banks: 1923 26,206,988 18,531,961 ! 7,675,027 1924 27,474, 727 19, 347,300 8,127,427 1925 - 29, 673,891 20,809,107 ,, "' 1926.. 31,132,149 22,123, 397 8,864,784 1927 32, 755, 971 23,006,039 9,008, 752 National banks: 9, 749,932 1923 16, 713, 739 11, 725,163 4,988,576 2,890,930 6.72 1924 17,233,431 12,007,447 5,225,984 !2,916,791 7.33 1925 18,430, 579 12, 729, 675 5,700,904 2,970,453 8.22 1926 19,135,960 13, 353,101 5, 782,859 '3, 077,183 7.96 1927 20, 349, 562 13,949,969 6,399,593 3,254,507 7.91 State member banks: 1923.... 9, 493,249 6, 806, 798 2,686,451 1,489,144 6.72 1924 .- 10, 241, 296 7,339,853 2,901,443 1,574,872 9.37 1925 11, 243, 312 8,079,432 3,163,880 1,618,841 10.83 1926 11, 996,189 8, 770, 296 3, 225,893 1, 742,946 10.70 1927 - 12,406,409 9,056,070 3,350,339 1,908,195 9.94 1 Figures are averages of amounts for call dates during year; figures for loans are revised to exclude "Acceptances of other banks and bills of exchange or drafts sold with indorsement." 2 For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. S8o2a6 -°8°2°8. 3 Capital, surplus, and undivided profits including, in 1923 and 1924 only, reserves for taxes, interest, etc., accrued. No. 70.—MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, 1923-1927 lln thousands of dollars] Gross earnings Expenses Interest paid Year ending Dec. 31 Sal- Total I e n a t r e n r e e d st ot A h l e l r Total O po n s i d ts e- O ro n w b e o d r- a a r n ie d s Taxes ot A h l e l r money All member banks: 1923__ 1,719,360 1,493,755 225, 6051,232,654 547,910 42,151 335, 680102, 673204, 24C 1924__ 1,786,471 1, 514, 500271,971 1,280, 524 594,432 24,746 355,018 97, 341 208,987 1925 1,918,094 1, 615, 595302, 4991,367, 318 643,158 25,954 372,741 102,411 223,054 1926__ 2,027,752 1, 710,492317, r" 1,441,745 672, 927 31,350 396,796 105, 885234, 787 1927 2,120, 277 1. 749, 008371, 269 1, 515, 704713, 038 24, 514420,128 109, 778248, 246 National member banks: 1923 1,064,295 963, 443100, 852 757,802 329,304 29, 641205, 391 69, 873 123, 593 1924 1,093,832 960, 601133, 231 776,070 356, 311 17, 001213, 994 64, 676 124, 088 1925__ 1,159, 595 1,015, 352144, 243 822, 255 382, 483 17,172 223, 756 66,645 132,199 1926 1,210,911 1,060, 589150, 322 856, 765 395, 352 20, 089235, 969 68, 270 137, 085 1927. 1,289,297 1,107,242 182,055 918, 816 431, 763 15,429 253, 634 69, 219 148, 771 State member banks: 1923_ 655,065 530,3121 124,753 474, 852 218, 606 12, 510 130,289 32,8C0 80,647 1924_ 692,639 553,899 138. 740 504,454, 238,121 7.745 141, 024 32, 665 84, 899 1925 _... 758,499 600,243 158, 256 545,063 260, 675 8,782 148,985 35, 766 90, 855 1926___ __.. 816, 841 649,903 166,938 584,980 277, 575 11,261 160,827 37, 615 97, 702 1927__ 641,766! 189,214 281, 275 9,085 166,494 40, 559 99,475 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS 139 No. 70.- -MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, 1923-1927- Continued [In thousands of dollars] Losses Divi- Year ending Dec, 31 e i N a n r g e n s t - Total lo O a n ns i m nv O e e n n s t t s - o A th l e l r R e e r c i e o s v- Net pr N o e f t its c d l e d a n e re - d d s All member banks: 1923.. 486, 706 207,127 143,011 36,411 27, 705 57,307 149,820 336, 886257,933 1924 505,947 j 197,343 133,079 33,196 31,068 52, 739 144, 604 361, 343258,044 1925 550, 776! 193,099 128,774 35,127 29,198 61,806 131, 293 419,483 272, 686 1926 586,007! 207, 530 124,885 35,9091 46, 736 53,006 154, 524 431,483 284,809 1927 604,573: 123,745 37,284 47, 664 51,129 157,564 447,009 312,680 National member banks: 1923 306,493i 154,753 108, 819 26,450 19,484 42,642 112, 111 194, 382166,492 1924.__ 317,762 j140, 250 97, 582 23,960! 18, 708 36,270 103,980 213, 782162,636 1925.. 337, 340! 136,269 92,127 23, 692 20,450 43,122 93,147 244,193 171,324 1926 354,146 145,831 88,017 26,261 31, 553 36, 662 109.169 244,977 176,421 1927 _ 370,481 148,225 91,214 25,665 31, 346 35,027 113,198 257, 283197, 555 State member banks: 1923 180,213! 52, 374 34,192 9,961 8,221 14, 665 37, 709 142, 504 91,441 1924 188,185 57,093 35,497 9,236 12, 360 16,469 40, 624 147, 561 95,408 1925 213,436J 56, 830 36, 647 11,435 8,748 18, 684 38,146 175,290 101, 362 1926 231,8611 61, 699 36,868 9,648 15,183 16,344 45, 355 186, 506 1927 234,092! 60,468 32, 531 11,619 16, 318| 16,102! 44, 366 189,726 115,125 No. 71.—MEMBER BANKS—RATIOS OF EARNINGS, EXPENSES, ETC., TO AVERAGE EARNING ASSETS, 1923-1927 [Amounts per $100 of earning assets]* Gross earnings Expenses Losses Net Year ending Dec. 31 Total I e n a t r e n r e e d st Total d I p n e a t p i e d o r s e o i s t n s t Total Net profits All member banks: 1923 $6.56 $5.70 $4.70 $2.09 $0.79 $0. 57 $1.29 ]924 6.50 5.51 4.66 2.16 .72 .53 1.32 1925 6.46 5.44 4.61 2.17 .65 .44 1.41 1926 6.51 5.49 4.63 2.16 .67 .50 1.38 1927 6.47 5.34 4.63 2.18 .64 .48 1.36 National banks: 1923 6.37 5. 76 4.53 i 1.97 .93 67 1 16 1924 . 6.35 5.57 4.50 2.07 .81 .60 1.24 1925 6.29 5.51 4.46 2.08 .74 .51 1.32 1926 6.33 5.54 4.48 i 2.07 .76 57 1 28 1927 6.34 5.44 4.52 2.12 .73 .56 1.26 State member banks: 1923 6.90 5.59 5.00 ! 2.30 .55 .40 1.50 1924 6.76 5.41 4.93 2.33 .56 .40 1.44 1925 6.75 5.34 4.85 2.32 .51 .34 1.56 1926 _. 6.81 5.41 4.88 2.31 .51 .38 1.55 1927 6.70 5.17 4.81 ; 2.27 .49 .36 1.53 1 i Figures for earning assets, as used in computing the ratios in this table, are revised to exclude "Acceptances of other banks and bills of exchange or drafts sold with indorsement." NOTE.—For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BANKING CONDITIONS IN FEDERAL RESERVE DISTRICTS AND STATES 141 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONDITION OF EACH FEDERAL RESERVE BANK No. 72.—BILLS DISCOUNTED FOR MEMBER BANKS1—HOLDINGS OF EACH FEDERAL RESERVE BANK, BY MONTHS, 1924-1928 [Monthly averages of daily figures. In millions of dollars] Federal Reserve Bank Month San- B to o n s- Y N o ew rk D la a s l- F ci r s a c n o - 1924* January 33.2 119.5 48.9 February 31.0 122.0 43.6 March 27.6 79.4 46.5 April 23.0 86.0 43.8 May 17.9 62.7 40.1 June 16.9 41.1 32.4 July 11.0 45.2 25.2 August 11.7 31.8 19.6 September 10.0 41.4 16.5 October 6.9 44.8 13.6 November 13.4 38.0 10.6 December 21.7 76.6 11.5 1925* January 19.6 77.1 25. 11.6 February 19.8 150.0 30.0 16.9 March 31.0 150.9 36. 25.1 April 33.6 119.3 37.6 31.2 May 29.1 105.2 37.2 32.3 June 35.9 126.4 40.0 36.7 July. 33.1 144.7 45.3 42.5 August 36.5 169.2 48.8 46.2 September 29.7 206.0 48.5 53.9 October 42.2 193.3 52. 7 55.6 November 37.9 170.0 52. 7 60.4 December 52.1 207.3 58.6 56.4 1926* January 31.3 160.1 47.5 58.6 38.1 27.3 79.5 19.8 4.2 15.4 7.5 30.7 February 39.1 182.1 55.7 42.2 38.1 26.6 67.2 20.8 5.8 17.3 5.7 25.0 March 35.1 139.6 59.2 55.7 43.6 40.9 76.6 26.2 6.3 17.2 6.4 49.8 April 27.7 130.8 52.8 55.9 45.0 44.0 73.8 28.3 6.2 19.1 7.3 46.1 May 27.5 135.5 49.4 I 51.7 46.8 35.1 55.8 26.7 6.7 19.9 9.7 46.7 June 25.0 115.5 48.6 ! 43.6 47.3 38.5 53.9 28.5 4.9 18.1 11.7 37.3 July 34.5 168.5 48.0 I 36.7 41.7 42.2 59.7 30.7 7.4 16.1 16.1 47.6 August 37.0 163.3 45.5 i 33.2 45.0 47.7 55.0 35.2 12.7 12.6 20.1 48.0 September 46.0 181.8 45.6 | 44.5 46.2 55.7 68.4 43.5 10.5 13.3 24.6 59.6 October | 41.3 164.7 49.1 I 69.9 45.5 55.6 90.1 42.2 11.0 12.4 19.1 62.3 November j 38.6 134.6 43.1 I 74.9 35.1 50.2 105.0 37.6 8.1 16.7 16.9 53.6 December 56.1 155.2 59.9 I 89.3 29.3 47.1 118.6 37.9 4.9 13.3 10.0 46.8 1927 I January ..! 33.4 118.3 43.7 61.5 22.5 34.2 90.2 19.1 4.1 10.4 5.4 i 37.8 February 29.0 91.2 35.7 38.9 23.4 26.8 78.5 14.6 4.0 9.3 3.1 38.6 March 35.8 112.2 41.0 31.7 22.1 31.7 71.1 14.4 4.5 8.6 3.2 48.3 April 23.2 121.6 43.7 53.9 22.5 34.1 56.3 16.2 6.1 11.9 4.4 53.3 May _. 37.1 137.8 45.8 43.6 25.5 34.6 52.7 24.0 6.7 17.3 4.7 43.1 June 33.8 91.9 45.2 41.8 22.4 32.6 63.9 26.3 6.5 16.5 6.2 41.4 July 29.7 122.9 46.8 35.4 21.8 36.3 59.7 29.8 6.0 12.5 7.4 45.8 August 29.9 118.4 39.6 27.8 19.7 34.7 40.5 24.7 6.1 9.3 12.7 46.1 September 28.4 142.4 38.2 34.8 26.3 31.1 31.4 28.0 4.4 10.7 11.0 35.6 October. i 33.3 126.9 38.4 43.7 28.9 26.0 36.5 21.5 2.7 15.7 7.2 43.7 November j 36.4 106.5 38.1 46.8 21.5 32.7 46.9 18.1 2.6 18.1 8.4 39.1 December | 40.2 171.1 47.9 S8.6 24.4 36.1 | 65.0 19.3 3.0 15.2 5.4 42.4 1928 | January ! 23.5 152.9 44.4 51.0 26.9 29.3 59.0 16.6 3.7 | 12.7 4.3 41.0 February j 45.2 119.3 53.1 50.8 27.3 28.3 50.9 24.0 4.0 I 11.4 4.1 52.3 March _j 49.5 130.0 49.2 57.0 27.8 25.2 67.9 26.1 3.3 i 10.5 3.8 63.1 April ! 44.4 210.9 52.7 60.8 34.6 38.9 87.6 33.1 10.1 ! 18.8 8.0 61.3 May ! 59.6 296.9 60.4 68.4 43.0 51.9 109.5 39.0 10.6 I 22.9 9.0 64.3 June __| 84.8 376.1 80.2 89.3 48.0 59.8 136.1 52.9 8.5 ! 22.4 11.3 49.4 July... ...J 68.0 382.6 93.8 100.8 54.9 68.5 156.7 55.1 12.2 | 23.9 16.7 56.5 August j 61.1 321.3 99.1 80.1 56.6 76.8 159.4 58.8 18.5 i 22.7 29.8 76.7 September I 50.9 352.3 106.5 77.8 57.2 82.9 113.8 65.0 17.8 | 24.0 29.6 86.5 October i 45.9 300.7 93.7 75.5 47.8 79.4 134.1 49.8 18.1 31.3 25.3 73.5 November j 50.6 238.1 79.3 85.6 42.5 68.7 138.8 43.9 16.0 43.1 21.3 69.6 December j 65.0 298.7 91.3 108.0 40.8 57.8 178.9 39.6 10.4 44.2 17.9 60.3 1 Including small amounts of bills discounted for intermediate credit banks, etc.; see Tables 11 and 101. * Revised. Back figures—See Annual Report for 1927 (Table 55). 143 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
144 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 73.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1928, BY CLASSES [In thousands of dollars] Rediscounted bills Member banks* collateral Feder b a a l n r k eserve (all T c o la ta ss l es) C S o t t i u m u i r r m a a f l l er- D a e n m r d lr a n s n f i t g d q ht B a a a c n n c c k e e p e s t r - s' a T a c n r c a c e d e p s e t- m b G s y P e e o c a n v U u p t e r . e o e r r n S d b - . - m b G s y e e n o c n o v U u t t e r e . o e r s n S d b - . - C o s o t e h n l c l e o a u r t t w r e e e s r i d s a e l paper, dratts ligations ligations n. e. s. Boston 69, 244 40,354 . .. 74 190 28, 626 New York __ 463,980 18,503 ' 176 349,156 96,145 Philadelphia. _ 84, 314 10,175 139 59,548 14,452 Cleveland 92,702 19,296 327 21 60,063 12, 995 Richmond 38, 561 12,129 53 42 17,036 9,301 Atlanta 41,020 22,410 i 69 673 69 9,398 8,401 Chicago 146, 519 58,795 ' 41 127 519 80, 353 6,684 St. Louis 35, 539 6,452 76 129 20,339 8,543 Minneapolis 4,495 2,013 4 2,228 250 Kansas City 31,143 18,079 7,451 5,613 Dallas . 11,161 1,373 214 9,001 573 San Francisco 37, 788 5,124 5 15,043 17, 616 Total 1, 056, 466 214,703 ! 283 46 1,645 974 658,242 180, 573 Back figures.See Annual Report for 1927 (Table 56), 1926 (Table 18), etc. No. 74.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1928, 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 91,947 87,095 1,282 2 204 1 228 138 New York 387, 841 379, 747 2,366 3,143 2,565 20 Philadelphia 96,304 87,364 3,023 4, 571 1,290 56 Cleveland 112, 640 98,314 4,781 5,297 4,124 102 22 Richmond 40, 517 31,184 3,697 3,571 1,921 109 35 Atlanta 59, 882 35,407 6,459 9,973 6,452 1,557 34 Chicago 201,769 | 151,244 13,020 22,285 13,251 1,876 93 St. Louis 43,177 35, 594 1,790 3,861 1,745 179 s Minneapolis 13,201 9,347 147 476 2,362 676 193 Kansas City _ 48, 533 31,515 1,148 2,726 2,291 10, 321 532 Dallas 15, 660 14, 625 129 503 360 43 San Francisco __ 56,108 ! 51,145 907 899 1,027 1,916 214 Total -.1,167, 579 1,012,581 38, 749 59, 509 38, 616 16, 993 1,131 Back figures.—See Annual Report for 1927 (Table 57), 1926 (Table 20), etc. No. 75.—AVERAGE MATURITY OF BILLS DISCOUNTED BY FEDERAL RESERVE BANKS, 1926-1928 [Days] Member bank collateral notes Rediscounted bills Federal reserve bank 1926 1927 1928 1926 1927 1928 Boston 5.96 6.70 5.28 50.23 46.96 52.10 New York 4.18 4.29 4.77 56.36 53.32 50.48 Philadelphia. _ 7.74 8.13 5.99 52.11 49.60 48.88 Cleveland 4.82 3.99 4.46 50.39 49.90 53.35 Richmond 2.80 3.20 2.61 54.95 55.58 48.20 Atlanta 11.37 12.89 10.41 56.31 53.79 58.12 Chicago 11.26 10.72 9.09 51.96 49.20 43.70 St. Louis 7.45 7.29 6.45 44.66 43.67 53.22 Minneapolis. _. 10.43 7.95 5.76 90.19 111.22 87.17 Kansas City... 5.20 5.35 4.69 77.20 79.44 98.89 Dallas 12.51 7.29 7.48 63.36 52.90 55.26 San Francisco. 7.15 6.31 5.18 70.77 77.86 64.16 Total . 5.48 I 5.58 ! 5.37 54.28 52.97 54.42 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
145 E\CH FEDERAL RESERVE BANK No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS BOSTON [In thousands of dollars] Bills bought B di i s l - ls in op k e e n t mar- Un s i e t c e u d r i S ti t e a s tes Deposits j Federal Total counted Total ! reserve Date c an u b d r i i l t l s i s e e s - m b e fo e m r r - B o o u u t- ght U re n sa d l e e r re c s a e s r h ves Total Me b m an b k er Ot d h e- er c i u n l n o a t c t e i i r s o - n banks i a m r a e r g r n r n e t a e- right a m g e re n e t - b r a e l s a e n r c v e e s posits 1928 Jan. 4 105, 767 19, 841 40,631' 9,553 33, 358 2,384 207, 597 160,146 158,047 2,099 147,858 Jan. 11... 113,448 20, 246 49,0431 10,039 31, 534 2.586 193, 694 159,478 157,475 2,003 137,186 Jan.18._ 102, 263 21,188 39, 949! 9, 352 29,106 2,668 193," 156,293 155, 111 1,182 129,145 Jan. 25. _. 86, 308 16, 841 34,043! 8,730 24, 564 2,130 201,450 152,134 149, 496 2,638 122,905 Feb. 1___. 97, 640 35, 591 35,173 3,595 23, 281 189, 958 150, 633 148, 939 1,694 124,095 Feb. 8.... 108, 234 48,033 36,179| 2,224 21, 798 181,109 152, 861 150, 216 2,645 122,574 Feb. 15.. 89,180 32,956 29,939! 4,487 21,798 193, 691 149, 604 146, 630 2,974 121,369 Feb. 21... 100, 938 43, 382 32, 866! 2,742 21, 798 150 187, 236 151, 422 149, 022 2,400! 122,598 Feb. 29... 116, 543 55, 240 34, 662| 4,843 21, "~ 170, 530 149, 022 146. 636 2,386! 121,131 Mar. 7... 109, 720 45, 738 34, 721 7,462 21, 799 177, 963 150, 081 147, 517 2,564 120,933 Mar. 14.. 116, 644 48,182 40, 782 6,171 21, 509 175, 259 155, 779 155, 33; 442 119,223 Mar. 21.. 110, 386 46,013 35, 897 7,744 20, 647 85 179,781 154, 213 153, 564 649 119,021 Mar. 28.. 129, 024 58, 572 40, 767 8,476 20, 664 545 161, 828 153, 634 150,186 3,448 119,161 Apr. 4.... 106,169 39, 553 40, 073 20, 475 194, 531 159, 512 158, 361 1,151 123,598 Apr. 11... 118, 859 45, 472 48,928 4,619 19, 840 178, 754 158,127 155, 816 2,311 121, 551 Apr. 18— 139,926 56, 396 8,795 16.1461 160, 015 157,340 156,197 1,143 123,652 Apr. 25— 106,081 41,317 43, 412 7,514 13, 838| 192, 696 158, 374 155, 072 3,302 122,129 May 2__. 95,409 40, 885 35, 763 5,921 201, 718 158,065 155, 698 2,367 124, 615 May 9__. 104, 519 54, 589 34, 343 4,032 > 194, 730 156,336 152,820 3,516 124, 659 May 16_. 107, 940 57, 562 34, 892 5,131 11, 555 185, 244 151, 032 148,921 2,111 124,177 May 23.. 121, 764 69, 585 35, 992 7,760 10,355 176,884 156, 520 155,147 1,373 125,484 May 29.. 127,752 79,046 35,987 5,368 8,427 170, 777 151,315 149,844 1,471 129,063 7,351 June 6 118,160 78, 551 27, 692 4,330 7,587 183, 606 153, 618 152, 618 1,000 132, 232 June 13... 127, 638 83, 700 30, 925 5,523 7,490 172,487 151, 558 150, 702 856 131,441 J J u u n n e e 2 2 0 7 — ... 1 1 3 3 0 1 , , 1 3 5 3 6 1 8 8 6 9 , , 3 2 2 9 2 1 2 2 6 7, , 6 6 6 2 5 4 10 5 , , 8 6 2 6 8 4 7 7 , , 5 5 1 7 6 7 1 1 6 6 8 9 , , 0 3 8 1 9 3 1 1 4 4 8 8 , , 3 5 9 2 4 9 1 1 4 4 7 7 , , 2 51 9 0 7 1, 8 23 8 2 4 1 13 3 2 4 , . 1 5 3 5 4 0 July 3.... 114, 825 82, 367 16, 791 8,090 7,577 192, 840 152, 872 151, 206 1,666 138,573 July 11... 90,880 58,348 20,314 4,601 7,617 216,088 151,995 150,339 1,656 138, 511 July 18... 92,056 62,171 16,051 6,217 7,617 216, 543 153, 634 152, 332 1,302 139.135 July 25... 93, 24f 66,385 13,036 6,204 7,617 212,146 149, 511 148,081 1,430 139,299 Aug. 1... 93, 519 66,047 15, 508 4,348 7,616 209, 705 148, 508 146,154 2,354 142,023 Aug. 8... 84, 607 63, 403 11, 390 2,971 6,843 229,038 152, 625 150, 350 2,275 142,475 Aug. 15... 93,420 67, 738 13, 919 4,920 6,843 216, 803 150, 949 149,458 1,491 142, 892 Aug. 22... 86, 271 59, 998 14, 012 5,418 6,843 222,999 147,400 145, 799 1,601 144, 220 Aug. 29... 85, 541 57, 715 13, 323 5,687 8,816 231, 320 151, 235 147, 016 4,219 147,982 Sept. 5... 87,821 56,182 16,868 5,955 8,8161 234,310 151,457 150, 719 7381 153,261 Sept. 12.. 78,023 46,143 19,874 3.190 8,816! 237,831 148, 782 147, 726 1,056) 150,805 Sept. 19.. 79,190 48,314 14, 207 7, 853 i 8,816 245, 361 158, 236 147, 767 10,469 150,024 Sept. 26.. 76, 342 47, 484 14,290 7,132 7,436 241, 039 151, 873 150,149 1,724 149,324 Oct. 3.... 81,477 47,057 16, 27210, 712 7,436 246, 881 159, 672 155, 679 3,993 151,585 Oct. 10... 93,483 57,133 16,982 12,8391 6,529 230,679 152,876 151,:"" 977 152,599 Oct. 17... 76, 796 35, 693 21, 820 12, 642 i 6, 530J 111 245, 886 156, 423 155, 589 834 151,036 Oct. 24... 84, 236 32, 999! 31, 482 12, 756| 6, 111 240, 475 158, 319 153,180 5,139 149,238 Oct. 31... 83, 609 32, 826 j 27, 598 16, 297 236, 347 153, 644 151,171 2, 473| 149,712 I Nov. 7... 82, 783 32,474 26, 75716, 664 v, uoo, 231, 697 153, 955 149, 880 4,075! 150,907 Nov. 14.. 108,471 50, 725 '35,368 13,490; 6,8881 218,392 156,015 153,781 2,234J 151,880 Nov. 21.. 108,114 53, 321 33, 731 13,531! 7,531 207, 979 152, 731 151, 983 7481 149,606 Nov. 28.. 118, 904 62,184 37, 559 11, 630 7, 531 199, 531 147,580 146,030 1, 550j 154,339 j Dec. 5.... 105, 647 52, 306 36, 679 9, 786 • 6, 876 224, 549 153,527 150,110 3,417 161, 510 Dec. 12.. 109,319 58,459 36, 545 6, 955! 7,360! 223, 847 153, 277 150,071 3,206 166,819 Dec. 19.. 119,908 65,007 41, 295 5,821! 7,785| 203,099 145, 369; 144, 524 845 166,221 Dec. 26.. 149,404 91,947 41, 472 7, 812i 8,173! 184, 729 152, 800 152, 061 739! 167,041 I Back figures—See Annual Report for 1927 (Table 58), 1926 (Part II, Table 2), 1925 (Part II, Table 2), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
146 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued NEW YORK [In thousands of dollars] Total B d i i l s l - s | i B n il o ls p * k e b :t n o u m g a h r t - Un s i e t c e u d rit S ie ta s tes Deposits I Federal bills counted | . Total ! reserve Date and se- for j cash | ji i notes curities1 b m a b e n e m r k s ! jI B r o i o g u u h t g - t ht a U r m e g n s e r a d e n l e e t e - r i j B r °o i u g ?u h h t t - t res U a m a g n l e r . e d n e e t - r reserves j Total I | | l ! I b M r a e b l e s a a e m n n r c v k b e e e s r pn j i | c i u n l a c t i i r o - n 1928 Jan. 4 465, 048 178, 771 j 39, 216 57, 224! 113,776 76,061 975,202 1, 041, 635J 1. 020, 508! 21,127! 374,185 J J J a a a n n n . . . 1 2 1 8 1 5 . . _ . . _ _ .. 2 3 2 8 6 6 0 1 4 , , , 4 9 6 8 3 3 6 3 4 1 1 4 8 1 8 4 5 , , ,0 8 9 7 3 0 9 3 2 : ' j 4 6 5 7 2 3 , , , 4 4 6 9 2 9 2 3 2 2 3 1 5 8 6 , , , 4 2 9 9 0 2 1 9 8 1 | i1 1 8 0 0 5 8 1 , , , 9 4 1 0 3 1 2 2 0 ; | 18,500 ! i 1 1 1 . , , 0 0 1 1 2 0 8 4 5 , , , 1 9 3 4 4 4 6 6 9 1,0 9 9 0 8 2 0 8 6 , , , 4 7 9 1 8 2 2 8 8 1 ! ! , ! 9 9 9 8 1 7 5 0 4 , , , 5 0 6 4 1 7 6 6 8 j 1 1 1 6 5 4 , , , 1 3 3 1 8 9 0 2 6 J ! ! 3 3 3 4 4 5 2 8 4 , , , 2 7 3 9 2 7 2 6 1 Feb. l..._ 309,605 114. 294' 68, 573 35, 042 82,196! 9, 500: 1,052,03' 980,325;! 958, 44521,880; 344,481 Feb. 8____ 297,167 125, 746: 70, 512 24, 991 75,918! ! 1,065,719 980, 315u 956, 36823,947; 342,996 Feb. 15... 330, 824153, 8101 74,106 22, 290 78,118! 2,500: 1,027,157 959,733!! 642, 040 17, 693 i 347,293 Feb. 21___ 266, 561 87. 846! 72, 879 29. 918i 75,918; : 1,069,560 934,733!! 917, 038 17,695! 350,348 Feb. 29— 260, 7"' 83, 336: 63, 425 33, 080! 75, 9181 5,0201 1,088,804 956,162!; 938, 064 18, 098| 348,715 Mar. 7___ 293, 546124, 388 66, 372 26, 868 i 75,918! ! 1,050,012 954,145! 934, 620 19,525! 346,519 Mar. 14 _. 287, 774111,0361 70, 663 30,152; 75, 923i i 1,037,254 942,198 919, 62222,576! 342,668 Mar. 21.. 244, 946 82,402 67, 504 25,085! 69,955! I 1,069,883 923, 5331 902, 60420,929! 343,352 Mar. 28_. 328, 066 154,018[ 63, 347 40, 687j 70, 014! f 1,018,257 956,0801! 943, 49412, 586i 341,906 Apr. 4____ 379,901 206, 859 i 57, 664 44, 996 69,492^ 890 980,457 969,114i 955, 880 13, 234i 350,748 Apr. 11... 396, 239207,043 65, 586 53, 568' 67,177 2, 865 999,198 l,013,513!| 995, 22218,291! 336,101 Apr. 18.._ 302, 883 153, 029 58,114 24,214 59,476! 8,050! 1,029,227 957,758!i 946, 080 11,678s 338,067 Apr. 25... 392, 516242, 617 71,183 24, 081 48, 430} 6, 2051 979, 242 985, 5001 j 971, 935 13,565! 335,683 May 2 387,109 249, 255 22, 574J 43, 1101 9,781 1,010,090 1,007, 971 j 989, 042 18,929; 343,753 May 9___ 423, 677290,126 68, 586 15, 464 40, 084; 9, 417 949, 319 987,402; 969, 78717,615! 337,881 May 16__ 413, 613 296, 829 59, 595 10, 289 39, 428! 7,472 936, 543 966, 560 i 943, 58422,976 340,111 May23__ 404,473 307, 780 52, 989 12, 260 27, 934! 3,510 941, 736 962,608H 947,128 15,480| 336,811 May 29_ _ 416, 380 321, 895 50, 065 9,441 24, 9921 9,98" 928, 654 949,3411! 932, 742 16, 599j 339,236 June 6 444, 836 365, 354 44, 297 2, 301 25, 499 7,385 901, 420 960,532!! 948, 416 12,116! 338,181 June 13.. 474, 950 397, 024 30, 815 41, 676i 5,435 877,127 973, 858; j 949, 99723, 861! 331,888 June 20.. 454,119 377, 560 27, 255 1,645 43, 959j 3,700 865. 675 933, 919! I 921,169 12,750} 332,481 June 27..: 444, 692 373,079 27, 548 9,311 28, 044; 6,710 902, 605 959, 52311 939, 566 19,957! 334,072 July 3- —j 526,869 436,537 33, 285 16,144) 25, 018 15, 905j 832, 567 962, 200; 936,503 25, 6971 349,202 July 11 |523,416 449,633 26,634 6, 852| 30,158;10,1391 811,839 944, 500i 929, 535 14,965 341,685 July 18.. . 372,653 304, 323 32, 561 3,502 25,158 7,109 ' 921,619 909, 485 i 894,417 15,068; 340,243 July 25—1369,814 310,344 28,514 298 25,158: 5, 500 919, 551 901,509|| 889,235 12,274! 336,272 Aug. 1_—| 410,6501 339,883 28, 716 6,572 29,159! 6,320 953,343 935,417 17,926! 340,067 Aug. 8 I 390,064 329, 393 29,017 3,153 22,501! 6,000 894, 254 863, 957 26,652 339,951 Aug. 15. 351,159 274, 575 38, 849 11, 544 22,501; 3,190 932, 095 890, 624 877, 781 12,843 344,739 Aug. 22. 382,823 314, 026 25, 851 15, 840 22,501! 4,1051 911,917 891, 7751 879,519 12,256! 344,684 Ausr. 29. 373, 350 292, 522 29,429 15,613! 29, 2,r -6, OOO! 917, 599 891, 354 877, 231 14,123; 343,565 Sept. 5... 431,651 350, 202 21,117 25, 996; 29, 286 4,550 860,153 875, 768' 866, 874 8,894; 359,216 Sept. 12.. 467, 763 356,416 23, 701 37,690 44,806 4,650 852, 643! 929,863 917, 249 12,614! 344,107 Sept. 19.. 518,330 396, 360 29,741 44, 806 7,675 792, 803 j 925,039 907,199 17,840 339,228 Sept. 26.. 467,909} 337,621 35, 542 42, 755 40, 061 10, 880 834, 038! 901, 697 888,308 13,389j 335,178 T Oct. 3_... 506, 661 353, 998 53,408 46,4941 40,361 11,350 798, 776; 922,126 902,802 19,324! 339,506 Oct. 10_.. 485, 760 338,004 57,581 42, 929| 34,746 11,450 809,1341 887, 221 878,495 8,726 342,420 Oct. 17... 480, 701 298, 309 77, 225 54,177! 34,2451 14,995 833,870 [ 917, 212 905,153 12, 059 337, 556 Oct. 24... 419, 439 247, 253 69,026 52, 428 31,757! 18,775 877, 587! 896,340 881,428 14,912 332,304 Oct. 31... 447,184 261,461 78,004 60,192 26,257| 21,070 916,73l! 959,162 944,109 15,053| 333,457 Nov. 7... 469,458 294,522 84, 782 46, 782J 22,757 20,415 872, 044: 916,389 893, 73222,657 341,971 Nov. 14.. 380,164 194, 397 91,105 51.665 22,757! 20,040 896,444[ 907, 006 894, 993 12,013 332,685 Nov. 21 _. 354,328 169, 752 98, 259 44, 705| 25,022! 16,390 945,773' 910, 399 898, 694 11,705 333,497 Nov. 28_. 504, 524 316, 706 107, 596 35, 490 25,282 19,250| 855, 842; 945,060 12,452] 343,818 Dec. 5 526,657 329,891 104,306 41, 968 22,782 27,510 825,751: 946, 933 932, 318 14,615! 339,816 Dec. 12..! 552,259 326,926 124, 510 46.666 24,427! 29,530 827, 554! 976,141 960,509 15,632! 340,658 Dec. 19. J 467,015 232, 793 105,114 21, 283 95,785| 12,040 878,0641 928,038 919,099 8,939! 359,365 Dec. 26..! 602,020 387,841 108, 503 50,884 24,127 30,665| 805, 507 979, 274 957,831 21,443; 364,133 I I 1 Includes other securities Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
147 EACH FEDERAL RESERVE BANK No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued PHILADELPHIA [In thousands of dollars] ! Bills bought United States Bills ! in OP^11 mar" securities Deposits Date c a u T n b r d o i i l t t l i s a s e e l s - 1 co m d u e f i o n s m - r t - ed! i | ! Boug k ht et a U r m e g n s e r a e d n l e e t e - r B r o o ig u u h t g - t ht a U r m e g n s e r a e d n l e e t e - r re T c s o a e t s r a v h l es Total M b re a b e s l a a m e n n r b k v c e e e r s p O o d t e s h - i e ts r c F r i u e n n e l s o d a e c t t e r e i i v r r o s a - e n l 1928 Jan. 4... 146,259 58, 672' 41, 924 45,663 154,080 141, 578 139,003i 2,575 136, 746 Jan. 11 _. 124,533 41,617 38,954 43,962 175, 021 143,900 142,476| 1,424 128,351 Jan. 18.. 113,403 37,108 34,598 41, 179,268 145,114 142, 588 2,526 121,406 Jan. 25.. 98, 859 30, 5411 30,875 37, 443 187, 996 141,130 139, 670 1,460 118,033 Feb. 1... 113, 704 48,325 29,134 36,245J 173,841 139, 955 138, 264 1,691 120.486 Feb. 8... 112,111 46,553 30,695 34,863 . 174,152 138,162 136, 111 2,051 120,383 Feb. 15.- 125, 702 5588,440099 3322,443300 34,863 165,631 139,643 137, 536 2,10" 124, 639 F F e e b b . . 2 2 9 1 . . . . 1 13 2 1 1 , , 8 9 8 0 6 2 5 5 2 9 , ,7 0 5 3 5 5 ' 3 3 7 4 , , 2 9 8 8 4 8 L 3 3 4 4 , , 8 8 6 6 3 3 1 16 6 0 9 , , 6 2 6 2 6 0 1 1 3 3 9 7 , , 6 7 6 4 2 6 1 13 3 5 8 , , 0 8 2 8 0 3 1 1 , , 7 7 2 7 6 9 1 1 2 24 5 , , 3 2 3 7 0 1 Mar. 7-. 109,530 42,361! 32,306 34,863 180,408 138,846 136,924 1,922 123,569 Mar. 14. 116,551 51,362! 30, 596 34, 593 173,209 137,346 136,429 91" 125.495 Mar. 21. 106,918 45, 624! 27, 504i 33,790 140,704 140,047 657 124,043 Mar. 28. 101,094 42,880j 24,408 33,806 187, 370[ 134, 594 132, 836 1,758 126,110 Apr. 4... 104,099 45,316' 25,153 33,630 195,498 141,870 140,601 1,269 130, 770 Apr. 11_. 114,120 55, 634 25,449 33,037 186.003 144,380 142, 670 1,710 127,268 Apr. 18- 107, 893 48,191 30,110 29, 592 183, 423 141,016 139,822 1,194 124.496 Apr. 25.. 104, 535 44,211 32, 885 27,439 188, 713 141, 344 137, 888 3,456 123,590 May 2... 116,140 54. 977j 34,655 26, 508 181,390 144. 797 142. 205 2,592 125,448 May 9__. 110,773 47,215 38, 249 25, 309 184.004 140,011 138, 004 2,007 126, 766 May 16 _ 118,370 55,1971 38, 984 24,189 178,355 139,972 138,064 1,908 127,744 May 23. 113,694 55,438i 35, 866 22, 390 178, 337 137, 262 135,856 1,406 125,989 May 29. 135,2211 80,480 33, 254 21,387 166,218 139, 315 138,217 1,098 131,162 June 6— 114, 535| 60,823 32,005 21,607 181, 501 143,312 141, 654 1,658 125,089 June 13.. 115,899 64,062 30, 220 21.517 180,696 139, 219 138,394 825 130,280 June 20.. 132,617 84,629! 26,335 21,553 159,818 134,882 133,349 1, 533126, 588 June 27.. 142,693 97, 5821 23, 501 21,610 150,170 134,811 133,870 941 128,233 July 3... 148,024 106,008 20,407 21, 609 150,148 142, 561 138, 720 3,841 132,416 July ll_. 127,845 85,748 20,449 21, 648 171, 251 140,142 138,344 1, 798130, 408 July 18_. 135,1511 93,793 19, 71*0 21, 159,880J 138,922 136,853 2,069 128,125 July 25.. 126, 0971 87,3701 17, 079 21, 648 165, 446 135, 059 132, 693 2,366 126,349 Aug. I... 130,336! 94,398 14, 290 21, 648 158, 426 133, 712 131,512 2,200 126,898 Aug. 8 .__ 126,494 91,677 13,890 20, 927 165, 784 134, 2971 131,825 2,472 128,879 A A A u u u g g g . . . 2 2 1 9 2 5 . . . . . . J . . 1 1 1 3 3 3 3 9 4 , , , 1 1 8 7 9 4 7 8 5 1 9 9 0 8 8 5 , , , 0 6 1 7 3 8 9 9 7 1 1 13 2 5 , , , 4 1 6 6 9 1 8 2 1 2 2 2 0 0 2 , , , 1 9 9 9 2 2 0 7 7 1 1 1 6 5 6 4 1 0 , , , 9 0 0 3 7 4 2 8 0 1 1 1 3 3 3 3 3 5 , , , 9 9 6 7 6 4 2 4 4 ! 1 1 13 3 3 1 4 2 , , , 2 8 3 2 8 4 2 7 0 2 1 1 , , , 3 0 7 0 7 5 4 7 0 1 1 1 3 3 2 1 0 9 , , , 1 3 2 5 8 1 5 8 9 Sept. o._ 138,-959 105,415 11, 355 22,189 156, 581 133, 418 132,146 1,272 132, 669 Sept. 12. I 137,324 104,490 10, 615 22,189 157,165 134,871 133, 250 1,621 131,867 Sept. 19. j 139,269 104, 220 j 12,830 22,189 162,798 144,195 s 137, 587 6,608 130, 599 Sept. 26. 141,678 105, 044 j 15,298 21, 306 155,347 136,673; 134,212 2,461 130, 603 Oct. 3... 141, 096 103,311 j 16,449 21,306 160,140 144, 881 i 140, 731 4,150 128, 012 Oct. 10.. 144,311 106,3691 17,277 20, 635 153, 641 135, 242 134, 056 1,186 131, 714 Oct. 17.. 119,363 80,196 18, 472 20,665 174,538 136, 892 135, f~" 1,013 128, 238 Oct. 24.. 118, 699 78,466 19,131 21, 072 175,428 136,531 134, 719 1,812 126,218 Oct. 31.. 127.891 •86,118 20, 671 21, 072 168, 214 134,888 133,368 1,520 128,123 N No o v v . . 7 1 - 4 . . 1 1 2 3 2 3 , , 5 5 2 4 1 0 i 8n 7 9n 9 , , n3 8 n8 4 "6 9 2 21 2 , , 9 5 2 7 7 0 2 2 1 1 , , 0 0 7 7 2 2 1 1 7 7 9 3 , , 1 2 2 5 6 5 1 13 3 7 5 , , 8 7 5 8 6 2 134,160 I 1 , , 1 1 1 1 3 3 2 6 , , 0 9 1 3 7 0 Nov. 21. 114,004 70,;053| 22,104 21, 692 181,986 135,919 135,142 777 129,180 Nov. 28. 117,879 75,806 20,226 21, 692 192,415 133, 770 131,483 2,287 144,367 Dec. 5... 115,316i 76,273 17,816 21, 072 201, 915 142,293 138,019 4,274 146, 025 Dec. 12- 127, 000 90,259 15, 057 21,529 191,079 136,365; 134,100 2,265 151, 952 Dec. 19.. 134,181 97,825 15,152 21,079 180,962 133, 586! 132,481 1,105 155,926 Dec. 26.. 133, 253 96,304 15, 502 21, 447 190, 686 137,853 j 136,328 1,525 157, 257 1 Includes .other securities. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
148 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RE SERVE BANK, BY WEEKS—Continued CLEVELAND [In thousands of dollars] Bills bought B di i s l - l s j in op k e e n t mar- Un s i e t c e u d r i S ti t e a s tes Deposits Federal Total counted Total reserve Date a c n u b d r i i l t l i s s e e- s b m a b f e o e n m r r k - s B r o o ig u u h t g - t ht U r a m e g n s e r a e d n l e e t e - r B r o o i u g u t h - g t ht U a m g n r e e d n e e t - r cash Total M b r a e b e s l a a m e n n r b k v c e e e r s p O o d t e s h - i e ts r I c i u n n l o a c t t e i i r s o - n 1928 Jan. 4___. 152.069 68, 285 21,543 62,241 261,350i 183,404 180, 569 2, 835 212, 84& Jan. 11... 140, 219 53, 623 26, 325 60, 271 285, 295 193, 573 189, 993 3,580 210, 058 J Ja a n n . . 2 1 5 8 . . . . . . 1 11 3 5 6 , , 1 0 5 1 6 2 5 35 1 , , 4 0 8 9 3 0 2 2 7 6 , , 9 2 4 7 7 3 5 52 7 , , 6 7 4 2 9 6 2 3 7 0 6 0 , , 6 4 4 0 6 0 ' 1 19 9 2 1 , , 0 3 2 2 7 2 1 18 8 8 8 , ,1 5 8 7 7 9 3 2 , , 7 8 4 4 3 0 2 1 0 99 1 , , 0 9 2 0 4 8 Feb. 1___. 118, 749 33,992 33,417 51,340 287, 431 190,889 188,087| 2,802i 193,772 Feb. 8— 128,368 44, 561 34,067 49,740 278, 078 186, 736 184, 3691 2,367 195,122 Feb. 15... 127, 740 46, 054 31, 946 49, 740 277, 761 188, 535 184, 624 3,911 193,771 Feb. 21... 134,746 54, 602 30, 404 49, 740 271, 739 188, 600 185, 672 2,928! 193,714 Feb. 29... 143, 783 65, 984 28, 059 49, 740 275, 682 196,497 192,966J 3,531 197,343 i Mar. 7... 133, 513 53, 620 30,154 49, 739 274, 301 188,934 185, 586J Mar. 14_. 129, 306 51,188 28, 691 49,427 275,924 184,431 M M a a r r . . 2 2 1 8 . . . . 1 1 3 3 4 1 , , 7 2 5 7 7 6 5 5 6 2 , , 8 9 5 9 6 6 3 2 0 9 , , 9 3 0 3 5 3 4 4 8 7 , , 0 8 8 5 7 6 2 2 6 7 3 6 , , 5 8 3 6 7 6 1 19 8 1 5 , , 4 0 4 6 5 4 1 1 8 8 3 5 , , 4 8 4 3 1 3j Apr. 4.... 130, 688 50, 542 32,494 47, 652 272,910 189, 229 Apr. 11... 141,421 63,644 30,811 46,966 268, 412 188,181 Apr. 18... 129, 907 57, 251 29,678 42,978 279, 649 195,246 Apr. 25... 129,850 56, 249 33,115 40,486 192, 782 May 2... 140.070 64,348 36, 314 39,408 266,950 190,541 187,139 192,370 May9__. 141, 598 67,575 35, 589 38,434 274,937 195, 296 192,058 196,148- May 16_. 130,341 59,439 34,178 36,724 274,831 189,958 187,401 2,557 191,972 May23_. 134, 875 70,001 30, 231 34,643 271, 933 187,968 183,952 4, 016 193,095 May 29 _. 133,041 71, 938 27, 621 33,482 281, 452 194,056 190,. 231 3,825 193,825 June 6—.. 144,962 85,364 25,862 33, 736 261, 361 190,003 187,6251 2,378! 192,367 June 13—. 148,726 90,995 24,098 33, 633 262, 309 190, 593 187,641| 2, 952| 195,479 J J u u n n e e 2 27 0 . — . . . 1 14 3 9 6 , , 1 7 9 6 5 0 9 7 2 8 , , 4 6 4 2 7 0 2 2 3 3 , , 4 7 5 8 9 7 3 3 3 3 , , 8 7 5 8 4 8 2 2 6 5 7 4 , , 8 7 2 2 3 2 1 1 8 8 8 5, , 1 3 3 9 9 2 1 18 8 2 5 , , 8 6 9 16 4| 2 2 , , 7 2 7 4 6 5 1 1 9 9 0 3 , , 4 3 4 8 1 1 J J u u l l y y 3 11 .. . . .. 1 16 5 8 3 , , 1 7 0 7 8 8 1 10 1 1 6 , , 1 1 0 3 3 5 1 1 8 8 , , 1 7 0 8 7 9 3 3 3 3 , , 8 8 9 5 8 4 2 25 4 8 4 , , 6 5 7 4 9 3 1 1 9 8 3 9 , ,6 7 5 4 3 6 1 1 9 8 0 5 r , 5 7 2 7 7 3 J i 3 3 , , 2 8 1 8 9 0 1 1 9 9 4 7 , , 1 3 5 7 8 2 - J J u u l l y y 2 1 5 8 . . . . . . 1 1 4 4 1 9 , , 4 3 3 2 8 7 9 96 0 , , 9 7 2 4 0 6 1 1 8 6 , , 7 5 9 0 5 9 3 3 3 3 , , 8 8 9 9 7 8 2 26 6 0 1 , , 4 6 5 5 7 9 1 1 8 9 6 2 , , 2 9 9 4 1 4 1 18 8 8 3 , , 5 5 3 4 5 7 1 1 3 3r , 3 7 9 5 7 6 1 19 9 1 1 , ,8 6 8 2 & 3 Aug. 1... 138, 514 87, 299 17, 318 33,897 266,010 186> 837 3,028 188, 798- Aug. 8__. 136,933 85,148 18, 678 33,107 269,120 185,654 182,421 3,233i 193,621 Aug. 15 _. 132,436 79, 244 20,085 33,107 276,973 187, 573 185, 277 2,296 196,607 Aug. 22.. 122, 318 68, 377 20, 834 33,107 287, 759 188, 613 185, 560 3,053! 195,625. Aug. 29.. 136, 605 81,645 19,724 35, 236 280, 743 191, 510 187, 844! 3,666i 199, 555 Sept. 5._ 129,529 76,100 18,193 35, 236 281,687 188,005 185,841! 2,1641 199,687 Sept. 12. 142,066 86,955 19,875 35, 236 278, 530 191,0921 187,3751 3,717 204,712 Sept. 19. 127,466 70,351 21,879 35,236 299, 558 209,935 197,527; 12,408 200,17a Sept. 26- 127,240 68, 785 24,058 34, 397 296,877 192,997 189,021) 3,976| 203,868 Oct. 3__. 131, 338 68,973 28,032 34, 333 290, 351 196,1031 190, 665| 5, 4381 200,385 Oct. 10._ 140,436 76,602 30,489 33,345 283, 466 190,854) 188, 5571 2,297 206,452 Oct. 17_. 139,079 73, 617 32,122 33, 340 274, 272 189, 5041 187, 223 j 2,281 202,122 O O c c t t . . 2 3 4 1 . . . . 1 1 4 4 8 5 , , 9 5 4 2 " 4 7 71 7 , , 1 0 3 2 0 6 3 4 7 1 , , 5 6 3 4 1 7 3 33 3, , 8 2 5 8 1 6 1 ' 2 26 7 8 2 , , 3 7 5 9 2 2 1 18 8 7 9 , , 5 6 2 2 0 8 1 1 8 8 % 4, 7 7 5 3 5 9 i j 2 2 ? , 8 7 7 8 3 1 j ; 2 2 0 0 5 0 , , 1 9 7 2 5 7 , Nov. 7__ 163,144 84, 085 45, 773 33,286 257, 325 188, 348 185, 7431 2,605! 203,694 Nov. 14. 176, 310 93,163 49,861 33,286' 248,910 191, 392 2,727 207,694 Nov. 21. 165, 609 79,953 51, 649 34,007 251, 721 185, 591 183,316 2,275 204,620 Nov. 28. 183, 297 94,485 54,805 34, 007! 244, 799 184.445 180, 551 3,894| 212,527 Dec. 5.__ 175,748 88, 576 53, 33, 286 256, 234 192.446 187,869! 4, 577P 212, 75& Dec. 12.. 207,900 119, 223 54, 860 33,817! 221,841 183, 541 179,952] 3,589j'218,867 Dec. 19- 187,909 102, 000 53,359 32, 550 231,491 173, 857 172,159 1,6981223,345 Dec. 26- 197, 301 112, 640 51, 699 32, 962 247, 083 187,900 |186,171 1,729|J230,145- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
149 EACH FEDEKAL KESERVE BANK Ho, 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued RICHMOND [In thousands of dollars] I Bills bought in open mar- United States Deposits Total B di i s l - ls ket securities Federal bills eounted Total reserve Date c a u n r d it ie s s e- b m a b f e o n e m r r ks - B r o o ig u u h t g - t ht U a r m e g n s r e a e d n l e e e t - r B r o o i u g u t h - g t ht re c s a e s rv h es Total M b re a b e s l a a m e n n r b k v c e e e r s c i u n n l o a c t t e i i r s o - n 1928 Jan. 4 83, 546 25, 317 45,777 12,452 72,810 75,677 74,405 1,272 76,880 Jan. 11... 78,529 22, 561 44,147 11,821 71,35^ 74,035 72,874 1,161 73,458 Jan. 18.. _ 76, 795 27,423 38,391 10,981 71,879 74, 670 73,949 721 70,685 Jan. 25 — 63,711 24, 563 29,744! 9,404 83,668 74,818 72,219 2,599 68,672 Feb. 1.... 64,820 29,168 26,692 8,960 81,824 72,884 71,247 1,577 68,050 Feb. 8.... 59,957 26,919 24,590 8,448 86,923 74, 699 73,338 1,361 67,061 Feb. 15... 55,111 25,319 21,344 8,448 92,397 76,060 72,323 3,737 66,176 Feb. 21— 55,480 28,191 18,840 8,449 90,496 74,641 72, 234 2,407 65,826 Feb. 29... 54,270 29, 715 16,107 8,448 88, 702 72,904 70, 601 2,303 63,629 Mar. 7__. 47, 549 24, 375 14, 726 8,448 95, 627 73,167 71,855 1,312 62,788 Mar. 14.. 51,123; 27,845 14,929 8,349 90, 697 70,755 69,964 791 62,151 Mar. 21.. 49,250, 27,258 13,942 8,050 91,536 70,774 69,887 887 60,692 Mar. 28.. 46, 519 25, 612 12,851 8,056 94,931 72,234 69,072 3,162 60,266 Apr. 4.... 51,122 28,763 14,369 7,990 90,858 71,950 71,298 652 60,271 Apr. 11... 51,346 31, ""' 12, 568 ^, 770 89,049 71,058 69,108 1,950 59,462 Apr. 18__. 53,189 33,359 13,337 6,493 81,789 70,""" 69,375 688 57, 755 Apr. 25... 57, 938 36,408 15,836 5,694 82,245 73,139 68,039 5,100 56, 560 May 2... 62,399 40, 759 16,290 5,350 75,929 72,156 69,841 2,315 57, 620 May 9__. 60,871 39,025 16,941 4,905 77,752 70,808 69,363! 1,445 57,066 May 16_. 63,495 42,251 16, 754 4,490 72,335 67,925 66,390 i 1,535 56,638 May23__ 61,029 41, 625 15, 580 3. " 75,693 70,885 69,259! 1,626 57,383 May 29.. 64,074 46, 581 14,040 3,453 75,062 73,745 69,642| 4,103 55,335 June 6_.. 59,351 44,732 11,085 3,534 77, 532 73, 623 71, 2, 534 55,169 June 13 _ _ 58.073 44,171 10, 402 3, 500 78,678 71, 645 71,107 538 54.211 June 20-. 61,133 47, 703 9,920 3, 510 72,640 69, 075 67,233 1, 53,213 June 27 _. 64,782 52,027 9,225 3,530 66,997 67,940 67,099 841 52,662 July3.._. 63,115 50,571 9,014 3,530 70,256 74,040 71,598J 2,442 53, 339 July 11... 63, 695 53,411 6,740 3,544 65, 536 68,849 67,930! 919 53,096 J J u u l l y y 2 18 5 . . _ .. . 6 6 9 3 , , 2 0 2 4 9 9 5 5 8 3 , , 3 6 2 3 0 5| 6 7 , , 1 0 8 5 5 0 3 3, , 5 5 4 4 4 4 6 66 0 , , 0 6 5 6 9 9 6 69 9 , , 4 6 4 3 3 4 68,302J 3 1 , , 6 1 5 4 1 1 5 5 1 2 , . 1 2 4 1 0 2 Aug. l._. 66,568 56,347 6,677 3,544 63,066 69,066 65,067! 3,999 51,078 Aug. 8__. 65,473 54,7"- 7,461 3,276 66, 934 71, 333 67, 633 3,700 52,409 Aug. 15_. 64,511 53,442] 7,793 3,276 64, 744 70,04' 67, 689 2,358 53, 543 Aug. 22_. 65,842 54,487 8,079 3,276 65,409 66,550 64.929 1,621 54,771 Aug. 29.. 69,472 60,012! 6,183 3,277 65,842 71,070 65, 967 5,103 55, 284 Sept. 5... 68,222 58,822| 6,124 3,276 71,090 68,142 2,948 58,067 Sept. 12.. 64,812 54,917 6,619 3,276 68,878 66, 792 65,577 1,215 58,505 Sept. 19.. 65,394 52,358 9,760 3,276 73,710 71, 667 69,180 2,487 59,333 Sept. 26.. 70,198 54,947 11, 975 3,276 69,424 70,855 68,817 2,038 59,873 Oct. 3.-. 64,119 46, 632 14,211 3,276 77,087 69, 670 68,275 1,395 63, 521 Oct. 10.. 66, 766 47, 637 15,961 3,168 77,463 68,338 67, 314 1,024 66,809 Oct. 17. _ 64,390 43,831 17, 391 3,168 81,554 69, 994 69,139 855 69, 312 Oct. 24.. 69,172 46,636 19,112 3,424 80,991 70,516 67,351 3,165 71, 503 Oct. 31.. 69,037 44, 615 20,998 3,424 73,938 70,026! 3,912 73,481 Nov. 7.. 70, 296 42, 770 24,102 3,424 87,975 70, 222 69,607! 615 77, 299 Nov. 14. 72, 731 44, 381 24,926 3,424 86,472 73, 634 70, 232j 3,402 78, 898 Nov. 21. 69,159 38,819 26,676 3,664 70, 263 69, 625 638 79,932 Nov. 28. 72, 812 41, 822 27,326 3,664 88,062 72,953 68, 587 4,366 82, 203 Dec. 5— 64,001 33, 567 27,010 3,424 96, 873 72,184 69.930 2,254 83,048 Dec. 12.. 69,355 39,264 26,490 3,601 94,026 70,892 68, 905 1, ~" 84,035 Dec. 19.. 69, 298 39,994 25,877 3,427 95, 676 69,350 1,252 88,140 Dec. 26.. 69.074 40,517 25,130 3,427 69,788 69,097 89, 520 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
150 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PKINCIPAL RESOURCES AND LIABILITIES OP EACH FEDERAL RESERVE BANK, BY WEEKS—Continued ATLANTA [In thousands of dollars] Deposits Federal reserve Date notes Other in cirde- culation posits 1,73 142, 796 1,510 140,700 1,596 136,484 2,302134,944 167,800 2,071 133, 856 174, 291 2,741 144,494 171,643 2,179 140, 889 169, 528 2,031 140,927 168, 541 2,098140,035 2,131 143,426 1,166 142,001 477j 142,291 3, 612[ 141,451 Apr. 4... 1,191 144,681 Apr. 11.. 3,618 144,096 Apr. 18- 1,247 142,709 Apr. 25_. 4,934| 141,506 May2__ 2,365; 142,250 May9-_ 2,5031 142,535 May 16- 2,748] 141,039 May 23. 1,7721 139,256 May 29 _ 2, 312, 138,168 June 6__ 19 2,1171137,897 June 13_ 1,025 134, 880 June 20_ 669 134, 013 June 27. 606 131,970 July 3-_ 15 1,160| 133,363 July 11.. i7 1,756 132,100 July 18.. 782 130,338 July 21.. 2,584; 129,096 Aug. 1__ 12, 406; 3,228 128,696 Aug. 8__ 12, 754 S 33,880066 112288,777711 Aug. 15_ 13, 000j 1,652 128,240 Aug. 22 _ 12, 9831 1,979 127,167 Aug. 29. 12,860| 2,291 126,261 Sept. 5__ 1,416 127, 507 Sept. 12. 1,606 125, 799 Sept. 19. 8, 551125, 325 Sept. 26. 2,691 125, 214 Oct. 3... 2,430| 128,710 Oct. 10-. l,22l! 128,227 Oct. 17.. 1,185 129, 026 Oct. 24.. 3,097 128, 922 Oct. 31.. 2,725 128, 684 Nov. 7.. 2,837 130,320 Nov. 14. 1,601 129,116 Nov. 21. 1,237| 128,127 Nov. 28. 3,1551 131,284 Dec. 5... 3,370 135,103 Dec. 12.. 2,848 133,232 Dec. W.- 1,005 136,582 Dec. 26- 458! 139,247 1 Includes other securities. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDERAL RESERVE BANK 151 No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued CHICAGO [In thousands of dollars] Bills i B n i l o ls p e b n o u m g a h r t - Un se it c e u d r States Deposits Total dis- ket Federal counted Total reserve Date bills for cash notes j a c n u d ri t s i e e - s b m a b e n e m r ks - B r o o ig u u h t g - t ht U a r m e g n s r e a e d n l e e t e - r B r o o ig u u h t g - t ht U a r m e g n s e r a e d n l e e t e - r reserves Total M b re a b e s l a a m e n n r k b v c e e e r s p O o d t s e h - i e ts r c i u n l a c t i i r o - n 1928 Jan.4 214, 798 63, 723 58, 940 4,177 85,143 2,815 432, 535 360,027 357, 295 2,732 263,128 Jan. 11.._ 211,297 64, 939 58, 735 4,642 81, 501 1,480 420, 649 358, 205 354, 855 3,350 248, 270 Jan. 18... 203,142 64,131 57.488 2,444 76, 654 2,425 416, 795 356, 643 i 353,159 3,484 237, 401 Jan. 25... 174,437 45,158 56, 806 2,721 67, 552 2,200 433, 717 351,460 347, 878 3,582 230,928 Feb. l.___ 165, 819 39, 769 56,103 1,858 64,989 3,100 441,198 350, 542 346, 389 4,153 229, 549 Feb. 8.... 165, 294 49, 947 51, 785 1,177 62, 030 355 441, 217 349, 060 345,468 3,592 230,027 Feb. 15... 157, 396 47, 765 42, 709 2,397 62,030 2,495 460, 781 354, 740 350, 085 4,655 231,520 Feb. 21... 166, 643 61, 818 39,498 1,827 62,030 1.470 452, 717 351, 548 348, 071 3,477 236, 596 Feb. 29.._ 168,264 61, 385 39,195 2,904 62,030 2 750 448, 303 348, 771 342, 971 5,800 236,535 Mar. 1... 165,460 60, 957 37, 589 3,919 62, 030 965 456,081 351,205 347,110 4,095 238, 772 Mar. 14. _ 154, 081 51,058 36, 512 3,402 61,454 1, 655 462,395 350, 367 348, 290 2,077 235,178 Mar. 21 184,160 83, 757 35, 718 2,954 59, 731 2,000 427, 314 343. 367 340, 607 2,760 236, 246 Mar. 28.. 174, 739 73,960 35, 508 3,525 59, 766 1,980 443,028 341, 809 339,488 2,321 238,153 Apr. 4 192, 570 89,118 42,153 572 59, 387 1, 340 432, 479 149, 289 346, 328 2,961 245, 288 Apr. 11_._ 170,104 71, 043 37, 568 1,394 58,119 1.980 450,678 545,125 341, 552 3, 573 246,152 Apr. 18... 166, 981 74, 298 38, 320 1,617 50, 746 2; ooo 454, 405 £43, 707 341,439 2,268 248,381 Apr. 25— 186,059 97, 544 39,124 2,221 46,140 1,030 454,132 161,431 356, 343 5,088 248,054 May 2___ 189,976 97,146 45, 225 2,401 44,149 1,055 441, 730 359, 264 352, 905 6,359 247, 909 May 9___ 199, 312 105, 670 48,271 1,888 41, 583 1,900 435, 692 365,042 360, 813 4,229 247.040 May 16__ 199, 698 112,779 45, 256 2,426 39,187 50 430, 723 361, 360 356, 596 4,764 243,989 May 23__ 177, 304 96,031 40, 766 3,168 35, 339 2,000 446,433 349, 316 344,129 5,187 247, 311 May 29. _ 196; 995 127, 717 30,980 3,105 33,193 2,000 438, 404 352, 581 346, 835 5,746 252, 558 June 6 186,490 121,155 25, 658 3,998 33, 664 2,015 448, 307 352, 077 347, 835 4, 242 257, 548 June 13— 200,145 140,003 22, 248 2, 422 33, 472 2,000 437, 318 358,296 355, 719 2.577 255, 322 June 20— 185, 566 127, 932 19, 454 2, 655 33, 525 2,000 441, 7>36 348,136 345, 400 2; 736 256, 455 June 27... 211, 257 156, 606 16,198 1,595 33, 858 3,000 424, 299 346, 879 343, 840 3, 039 258, 358 July 3 232, 015 181, 089 13,135 1,219 33, 647 2,925 450,519 383, 739 379, 474 4,265 271,227 July 11.-. 188, 840 138, 523 12, 545 2,044 33, 728 2,000 468, 274 359, 738 355, 867 3,871 273, 054 July 18_.. 202, 606 154, 412 10, 938 1,528 33, 728 2. 00C 445,159 350, 441 345, 040 5,401 271,337 July 25. - 202, 366 154, 391 11, 788 1,019 33, 728 I,! 440 446, 432 348, 999 345, 495 3,504 271, 734 Aug. 1... 231,135 186,141 9,766 910 33, 728 590 430, 928 358, 883 350, 522 8,361 273, 783 Aug. 8... 209,356 164, 878 9,311 2,196 32,186 785 446, 577 351, 450 346, 932 4,518 275, 889 Aug. 15— 199,334 152, 579 9,792 2, 777 32, 186 2,000 455, 050 350, 440 346, 540 3,900 276,194 Aug. 22— 196,115 150,134 10, 206 1,589 32,186 2,000 464, 581 353, 432 346, 902 6,530 278,178 Aug. 29___ 184, 673 137, 613 10, 796 2,078 32,186 2,000 467, 808 341, 484 335, 592 5,892 280, 611 Sept. 5... 161, 701 112, 064 11,650 3,551 32,186 2,250 502, 081 347,184 343, 875 3,309 287, 544 Sept. 12.. 148,936 99, 217 11,953 3, 470 32,186 2,110 524, 852 360, 850 357,122 3,728 287,109 Sept. 19.. 164, 647 114,312 12, 517 3,512 32,186 2,120 518, 767 369, 647 360, 736 8,911 288, 541 Sept. 26.. 170, 520 118,592 15,319 2,. 153 32,186 2,270 502, 224 353, 981 349, 917 4,064 290,452 Oct. 3_.._ 179, 697 123,100 17,457 3, 834 32,186 3,120 495, 923 353,125 346, 027 7,098 294, 262 Oct. 10._. 164, 977 109, 454 20, 676 2 595 31,562 690 513,181 352, 832 348, 673 4,159 296, 028 Oct. 17... 187, 544 125, 804 23, 300 4^724 31, 561 2,155 493, 217 354, 872 351, 050 3,822 296, 901 Oct. 24__. 207, 073 143, 517 26, 663 2, 673 32,330 1,890 479, 066 355, 699 350, 756 4,943 297, 737 Oct. 31... 233,975 168, 031 28,162 3,457 32, 330 1, 995 443, 230 347, 662 342, 218 5,444 297, 041 Nov. 7... 220, 051 152, 576 31, 073 3,547 32,330 525 471, 575 351, 448 348,164 3,284 300, 018 Nov. 14.. 195, 520 125, 629 32, 250 4,351 32, 330 960 496, 283 362, 362! 359, 702 2,660 294, 573 Nov. 21.. 213, 043 137, 995 36,171 3,723 33, 644 1, 510 470, 470 357, 973 355, 789 2,184 291, 845 Nov. 28.. 224, 436 146,837 38, 062 2,693 33, 644 3,200 464, 315 355, 482 349, 415 6, 067 296, 475 Dec. 5_... 266, 531 191,016 39,141 3,474 32, 330 570 425, 516 354,113 349, 584 4.529 302, 727 Dec. 12— 249. 068 173, 887 37,160 3,308 33, SOS 1,405 451, 970 361, 599 357, 075 4,524 306, 594 Dec. 19... 251, 416 175,951 37,168 3,976 32, 356 1,965 442, 857 352, 370! 349, 371 2,999 318,211 Dec. 28— 278, 664 201, 766 36, 287 3,918 33,135 3,555 443, 269 359, 407 356, 753 2,654 331,855 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
152 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued ST. LOUIS [In thousands of dollars] Bills bought United States | Bills in open mar- securities i Deposits Date a c T n u b d o r il i t l t s a s i e l e - s c b o m d a u b f e o i n n e s m r r k t - e s - d B r o o ig u u h t g - t h k t et U a r m g e n e r s d e a n e e l t - r e Total Total I M b re a b e s l a a m e n n r b k v c e e e r s! i I np O no d t qs e h il - t e tqs r c F r i u e n n e s l o d a e c t e t r e i i v r r s o a - e n l 1928 Jan.4 62, 565 19,319 5,083 •38,1631. 88,082! 88,022 56, 371 Jan. 11._. 55, 657 11, 925 6,7721. 36,960' 93, 637 86,995 54, 902 Jan. 18... 60, 762 16,174 9, 2291 35,359. 86, 218 86,172 54, 453 Jan. 25... 59, 279 15,293 10, 244 33, 742! _ 89, 348 87, r 53, 686 Feb. 1—. 65, 567 18, 850 13,821 32,896J. 83, 225 j 87, 667 j 86, 282 1, 385 53, 287 Feb. 8.... 65,151 18,490 14, 742 31,9191. 84, 624 1, 565 52, 739 Feb. 15... 22,309 14,836 31,9191. 80, 615 j 86, 272! 2, 054 52, 806 Feb. 21... 75,391 29, 2511 14, 222 31,918j. 72,043! \6, 420 83, 496 2, 924 52, 674 Feb. 29... 72,342 28,0111 12,413 31,918,. 74, 574! !4, 932 82, 757 2,175 52,471 Mar. 7... 67,457 24,776 10, 762 31, 919;_ 80, 592 86,170 2,217 52,886 Mar. 14.. 67,169 25, 769 9,671 31,729!. 79, 948' 86, 362 84, 931 1,431 52,585 Mar. 21.. 66, 586 28.690 8,120 9, 776|. 78, 500! 82, 522 , 82, 000 522 52,194 Mar. 28.. 59, 925 23, 765 6,372 29, 788i. 84, 4391 83,126 81,486 1,640 52.115 Apr. 4___. 60,182 26,048 4,472 29, 662|_ 85, 846! 84,421!! 82,832 1,589 52,408 Apr. 11- 58,132 25, 803 3,086 29,2431. 87, 248 83, 8371 82, 709 1,128 52,975 Apr. 18.. 72,741 41,437 4,497 26,8071. 74, 826 83, 957 1,009 52,629 Apr. 25.. 63, 608 34, 6561 3,667 25,285'. 83, 700 85,425 83,387 2,038 52,064 May 2__. 65, 865 38,194 3,044 24,627!. 81,318 84, 732 83,489 1,243 53, 251 May 9__ 57, 682 31,134 2,769 23,779!. 88, 453 84, 980 83, 862 1,118 53,106 May 16_. 59, 782 35, 322 1,472 22, 988 L 87,427| 84,178 82, 726 1,452 53, 447 May 23 _. 69, 316 46, 666 934 21, 7161- 76, 971! 83,958 82, 212 1,746 53, 570 May 29.. 67, 320 49, 861 834 16, 625 i. 78, 539 83, 227 81, 335 1,892 54, 247 June 6—_ 57, 324 49, 670 [ 529 7,125;. 88,082 81,484 80,471 1,014 55, 312 June 13- 57, 826 50, 204' 497 7,125 _ 87, 927 81, 768 80,49l| 1,277 55, 263 J J u u n n e e 2 2 0 7. . . _ 6 5 1 7 , , 8 66 2 ' 6 5 5 4 0 , , 1 2 8 8 8 6 ! ! 4 3 1 5 5 4 7 7, ,1 1 2 2 5 5 ! !. . 8 87 2 , , 8 8 1 7 4 0 8 8 1 0 , ,6 8 3 5 5 6! || 8 7 0 9 , , 5 7 9 1 5 9 1, 9 2 1 6 6 1 5 5 5 5 , , 4 6 5 9 3 4 July 3... 61, 784 54, 337! 322 7,125;. 83, 598 79, 274i 78,109 1,165 56, 769 July 11- 54, 564 47,292! 147 7,125!. 95,102 84,0291! 82,087 1,942 57,917 July 18- 68,091 60,819| 147 7,125!. 77, 876 79, 328 77, 639 1,689 57, 683 July 25.. 61, 219 53, 951! 7, 125: _ 86, 747 82, 371 80, 583 1,788 56, 786 Aug. l-_ 62,400 55,139 13 7,125|. 85,460 80, 7521 i 78, 698 2,054 57, 570 Aug. 8__ 71,027 54,274 12 16, 625 . 81, 5811 81, 68611 79, 306 2,380 57,490 Aug. 15 _. 71,129 54,493 11 16,625'. 74,872! 80,241ji 78, 844! 1,397 57, 394 Aug. 22 _ 82, 328 65,6921 11 16,625;. 63, 550 79,615! I 77,143 2,472 56, 794 Aug. 29- 65, 396 65,3851 11 81,324 81,933|i 79, 340; 2.593 56, 354 Sept. 5__ 68,291 68,280l 11 77, 631 80,472! 79,184 57,129 Sept. 12. 67,675 67, 6641 11 79, 629 81, 047i 79, 294 1,753 57, 002 Sept. 19 _ 63,132 63,121 11 91,126 88,530! 82,161 6,369 57,357 Sept. 26. 71,806 60,170 11 11, 625 80, 750 84,618; 81, 287 3,331 57,363 Oct. 3___ 69,040 57,404j 11 11, 625j. 85, 316 85, 22S! 81,997 3,228 58, 813 Oct. 10.. 66,947 45, 240 1,238 20,4691. 87, 223 84, 345| 82,927 1,418 59,058 Oct. 17.. 76,120 51,131 4,520 20,4691. 78, 074 82, 543! 81. 267 1,276 60, 667 Oct. 24.. 77,104 46, 8631 9,465 20, 776! . 76, 068 81,47l| 79,125 2,346 60, 718 Oct. 31.. 80,087 47,393 11,918 20,776! 73, 322! 81,863! 79, 718 2,145 60,974 Nov. 7.. 75, 503 43,085 11,642 20,776|- 83. 700 84, 379 HI. 900 2,479 60,893 Nov. 14. 78,459 47.691 9,992 20,776'. 77,834 84, 539 82,196 2,343 60, 710 Nov. 21. 72,096 41,181 9,699 21,216. 82,840 81,663 1,833 60, 762 Nov. 28. 37, 990 9,281 21,216. 89,113 84,6281 82,301 2,327 61, 395 Dec. 5... 67, 258 36, 268 10,214 20, 776|. 90,972 85,091 j 83,026 2,065 61, 723 Dec. 12.. 69, 717 37, 519 11,097 21,101!. 91, 632 87, 675i 85,101 2,574 62.116 Dec. 19- 74, 612 41, 021 11,309 22, 282 . 82, 631 81,176! 79, 931 1,245 64, 533 Dec. 26.. 75,87f 43,177 11,653 21,042. 85, 338 85,5591- 84, 420 1,139 65, 747 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDERAL RESERVE BANK 153 No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued MINNEAPOLIS [In thousands of dollars] Bills i B n il o ls p e b n o u m g a h r t - Un s i e t c e u d r i S ti t e a s tes Deposits Date c a u T n b r d o i i t l t i l a e s s s l e ^ - c b m o a d u b f e o i e n m n s r r - k t - e s d B r o o i u g u t h - g t h k t et U a r m e g n s e r a e d n l e e t e - r B r o o i u g u t h - g t ht U a r m g e n e s r d n a e e l t e r e - re T c s o a e t s r a h v l es Total M b r a e e b l s m a a e n b n r k c v e e e r s p O o t d s h e i - e t r s c F r i u e n n e s l o d a e c t e t r e i i v r r s o a - e n l 1928 Jan. 4... 44,791 3,35! 16,91' 23,900 75,451! 54,798 52,196 2,602 60,961 Jan. 11._ 43,506 2,952 17,067 22,987 74, 785; 55, 595 53,959 1,636 59,300 Jan.18.. 43,182 4,154 16,756 21, 772 73,194 53,495 51, 992 1,503 58,225 Jan.25.. 37,394 3,644 13,759 19,491 77,521; 54,258 52,788 1,470 56,798 Feb. 1... 37,321 3,761 14,211 18,849 76,876! 53,382 52,033 1,349 55,844 Feb. 8... 34,419 2,291 13, 520 18,108 80,833 53, 621 52,372 1,249 55,924 Feb. 15.. 34,316 3,232 12,449 18,135 81,713! 53, 719 52,494 1,225 56,275 Feb. 21.. 34,824 4,936 11,253 18,135 83, 526j 57,000 55, 535 1,465 56,138 Feb. 29.. 33,778 3,900 10, 743 18,135 83,1731 55,130 53, 580 1,550 56,167 Mar. 7_. 30,857 1,591 10,131 18,135 88,094 56,525 54,397 2,128 56, 950 Mar. 14. 31, 506 1,868 10,648 17,990 81,474 52, 568 51, 734 834 56,011 Mar. 21. 37, 267 5,441 13, 767 17, 559 78,642 54,434 53,125 1,309 56,087 Mar. 28. 35,644 3,842 13,244 17,568. 79,933 54, 5201 52,598 1,922 55,654 Apr. 4... 6,342 14,062 17,474L 77,489' 53,956 52,96: 994 57,331 Apr. 11.. 40,155 7,580 14,429 17,156'. 74,854 54,843 53, 508 1,335 57,258 Apr. 18.. 45, 580 14,090 15,191 15.309;_ 71,187 55,533 54,706 827 56,344 Apr. 25.. 47,502 13,867 18,490 14,155;- 68,294 54,160 52,275 1,885 56,247 May 2__ 48,299 14, 759 18,894 13,656'- 66,842 52, 51,460 1,507 56,621 May 9._ 44,274 10,346 19, 925 13,013 . 70, 596 53,353! 51,905 1,448i 56, 820 M M M a a a y y y 2 2 1 3 9 6 _ _ _ 4 4 4 2 3 4 , , , 7 2 9 0 2 0 6 2 6 1 11 9 0 , , , 0 8 0 0 3 4 1 4 0 2 2 20 0 0 , , , 7 9 5 4 7 0 3 2 2 1 1 1 0 2 1 , , , 9 4 4 1 1 4 0 3 9 . . . 7 6 6 1 9 8 , , . 0 6 1 0 3 9 3 5 7 j 5 5 5 1 2 2 , , , 9 0 6 3 3 9 9 4 8 1 ! ; 4 5 5 9 0 1 , , , 5 8 6 2 1 1 1 5 3 2 1 1 , , , 4 1 1 2 7 2 1 7 4 5 5 5 6 5 6 , , , 4 1 8 1 1 0 4 0 8 June 6... 40, 990 9,028 19, 943 11, 029 75,343 56,642 55,024 1,618 55,210 June 13.. 38,483 8,390 18,122 10,981 75,884| 55,430 54,844 586 55,081 June 20.. 36, 557 7,643 17,430 10,994 75, 612 52,065 51,224 841! 55,187 June 27__ 33,683 7,646 14,523 11,024 79, 651 53, 593 52, 967 626j 54, 617 July 3__. 32, 832 8,135 13.183 11,024 80, 393 52,801 51, 535 1, 266 55, 957 July 11.. 31,894 7,933 12, 426 11, 045 80.198 52,027 50,936 1,091 56,117 July 18. _ 34, 504 10, 225 12, 744 11, 045 76, 5061 51, 589 50, 298 1,291 55, 516 July 25.. 37, 541 13, 213 12, 793 11,045 74,031! 51,839 50, 339 1,500 54, 723 ! Aug. 1__ 37,544 16,038 9,971 11,045 73, 795 52, 020 49, 757 2,263 54, 002 Aug. 8__ 36,285 14, 953 10.184 10, 658 73, 062 51, 092 48,822 2,270 53,829 Aug. 15_ 39,443 18, 363 9,932 10, 658 69,123 50, 799 49, 668 1,131 53,342 Aug. 22. 40,147 19,134 9,865 10, 658 70, 408i 51,950 50,039 1,911 53, 680 Aug. 29.. 40, 360! 19, 038 9,497 11, 335 71, 026J 52, 720 50, 200 2,520 53, 273 Sept. 5.. 39,190| 18, 786 8, 579 11,335 72, 859 52, 656 50, 917 1,739 55,002 Sept. 12. 39, 934| 19, 615 8,494 11,335 74, 311 54,111 52, 804 1,307 55, 548 S Se e p p t t . . 2 1 6 9 . . 4 3 0 9 , , 2 8 0 5 3 7 j i 1 1 7 7 , , 4 5 2 2 0 2 | 1 1 1 0 , , 4 5 2 0 2 0 1 1 0 1 , , 8 3 6 3 1 5 7 76 9 , , 2 9 0 3 1 6 5 5 7 4 , , 4 4 2 7 8 5 5 5 4 2 , , 3 4 1 0 2 4 3 2 , , 0 1 7 1 1 6 5 5 6 7 , , 1 4 1 4 3 6 Oct. 3... 39, 6261 15, 000! 13, 265 10, 861 81, 999J 56, 376, 54, 909 1,467 60,136 Oct. 10_. 40,499 15, 069 14,429 10, 501 81, 940 55, 586 j 54,176 1,410 61, 848 Oct. 17__ 47,014! 20, 7891 15, 224 10, 501 77, 4851 58,186! 56, 721 1,465 62,198 Oct. 24.. 48, 289| 20, 561 16, 522 10, 706 76, 563 i 57, 422 55,899 1,523 62,103 Oct. 31__ 43,867| 13, 643 19,018 10, 706 81,6151 58, 027 56, 433 1, 5" 61, 768 I N N N N o o o o v v v v . . . . 2 1 2 7 1 8 4 . . . _ . 4 4 4 4 7 5 9 6 , , , , 8 8 5 0 9 5 5 7 5 3 1 4 J 1 ! 1 1 1 1 4 8 4 3 , , , , 0 9 2 5 7 9 6 9 3 5 0 6 2 2 2 1 1 1 0 9 , , , , 5 2 4 7 0 2 0 4 7 9 8 9 1 1 1 1 1 0 1 0 , , , , 0 0 7 7 3 0 3 0 7 6 7 6 7 7 7 7 7 7 8 6 , , , , 0 8 5 0 3 5 3 8 7 8 9 7 5 5 5 5 5 5 8 5 , , , , 7 5 6 5 6 3 4 3 5 7 0 6 | | { 5 5 5 5 4 4 6 4 , , , , 2 0 2 6 8 2 3 7 8 6 1 0 1 1 1 1 , , , , 4 9 4 4 4 3 6 1 8 6 5 4 6 6 6 6 2 2 2 3 , , , , 3 3 5 0 8 8 1 1 3 1 7 7 Dec. 5___ 40, 662 8,633 20, 788 10, 706 84, 076 55, 236 53, 748 1, 64, 317 Dec. 12.. 42, 881 11, 353 20, 018 10, 950 84, 633 58,110 56,186 1,924 64, 295 Dec. 19.. 42, 687 7,348 19, 643 13, 711 79,263 53, 842 52, 962 880 65, 094 Dec. 26- 47, 925 13, 201 21, 932 10,907 77,033 55, 410 53,901 1,509 66, 374 1 Includes other securities. 41223—29 1.1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
154 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued KANSAS CITY [In thousands of dollars] Date Member bank reserve 60,636 12,956 7,588 38, 342 ,812! 94, 652 92, 501 2,151 66, 794 60,142 12, 554 9,099 36, 739 101,085 94, 206 92, 524 1,682 65, 213 63, 221 16, 526 10, 340 34, 605 94, 429 92, 211 90, 1,243 63,769 56,842 13, 672 10, 821 30, 599 101, 245 92,474 89, 963 2,511 62, 248 1, 750 96, 495 i 91, 651 89, 572 2,079 61,420 2, 0001 100, 341 j 93,891 91, 947 1,944 61,124 2,0001 100, 997 i 92, 770 90, 605 2,165 60, 661 700 106, 275! 93,260 90, 985 2,27£ 60,134 700 106, 5691 95, 258 92, 312 2,946 59, 204 Mar. 7. 50,903 7,844 12, 290 28, 269 105, 610 95,141 92, 759 2,382 59,186 Mar. 14 54,174 11,062 12, 098 28, 014 103, 763 95, 916 94,440 1,476 58, 396 Mar. 21 54, 836 11,992 12, 388 27, 256 100, 494| 92, 510 91, 335 1,175 58,119 Mar. 28 54, 294 11, 829 11, 694 27, 271 102,116! 95,420 055 j 2,365 Apr. 4— 61,120 17, 523 12,992 27,105 92, 435 57, 538 Apr. 11. 62,118 19, 296 12,475 26, 547 91,952 57, 074 Apr. 18. 63, 345 23, 369 13, 375 23, 301 91,320 56,834 Apr. 25_ 58, 518 19,448 14, 797 21, 273 91, 341 56. 395 May 2_ 63,918 25, 716 16, 056 88, 994 91, 90,054 1,512 56, 742 May9_ 55, 709 19, 643 15, 050 ,136 92, 390 90, 424 1,966 56, 958 May 16 56,956 22,006 14,489 95,103 91, 602 ,4/ 2,124 56, 759 May 23 54, 585 22, 357 13, 99,030 92, 520 88,975 3,545 56, 395 May 29 54, 23, 418 13, 750 95, 630: 90, 346 °" 357' 1, 55, 918 June 6. 53, 445 22, 621 12, 794 15, 780 95, 892 90,437 88,805 1,632 56, 538 June 13 51, 22, 769 11,179 15, 695 98, 847 90, 957 89,147 1,810 55, 907 June 20 52, 592 24, 535 10,079 15, 728 93, 383 ,035 87, 1,375 55, 604 June 27 46, 425 17, 926 10, 467 15, 782 102, 341 90,830 89,7411 1,089 54, 768 July 3__ 53, 740 23, 733 11, 485 15, 772 99,48 95, 394 94,110 1,284 55, 543 July 11. 48, 344 19, 379 10, 407 15, 808 101,711 2, 581 90, 611 1,970 55, 627 July 18. 57, 668 27, 941 11,169 15, 91, 385i 91, 89, 422! 1,844 55, 432 July 25. 52, 596 25, 000 9,039 15,80 97, 664| 93, 012 90,"""' 2,124 55, 933 Aug. 1__ 49, 201 22,1 ,467 102, 694! 94, 862 2,472 55,897 Aug. 8__ 50, 607 23,966 ,512 107, 402! 90, 591 2, 755 57,931 Aug. 15_ 48, 820 21, 813 ,878 104, 824; 93, 590 1, 58, 802 Aug. 22_ 49. 447 21, 834 10, 284 107, 6851 95,128 2,300 59,135 Aug. 29 _ 56, 054 26, 714 10, 823 99, 025; 93, 869 1,905 58, 826 Sept. 5. 52, 769 24, 848 10, 604 103, 810! 92,415! 91, 335 1,080 60, 769 Sept. 12 52, 751 25, 303 10, 231 101, 293! 92, 627 91,198 1,429 60, 787 Sept. 19 58,467 27, 695 13, 655 103,909 08 92, 395 7.313 61,143 Sept. 26 55, 848 23, 787 15, 975 102, 325 94, 317 , 605!4, 712 61, 308 Oct. 3.. 15, 486 104, 93, 271 4,064 63,036 Oct. 10. 14, 853 ,508 90,198 2,188 63, 723 Oct. 17. 14, 854| ,326 92, 586 2,068 63, 995 Oct. 24. ,732! ,356 92,479 2,363 63, 603 Oct. 31_ 9, 732 83,404 89, 544 1, 63,269 Nov. 7. 80,081 41,191 ,732 7,309 94,518 92, 414 Nov. 14 77,939 40,943 9,732 82,421 94,092! 92,024 Nov. 21 ,844 46,1271 9, 732j 76, 565 91,389! , 718! Nov. 28 67, 279 47,083 9, 732 93, 830 92,647! 90,711 Dec. 5.. 61,412 44, 046 99, 529 2,320 91, 284 66,700 Dec. 12. 59, 208 43, 855 107, 625 95, 578 93, 300 68,178 Dec. 19. 59,934 43, 941 103, 923 91, 705 90, 638 70, 227 Dec. 26. 61. 755 48, 533| 110,449 94,238'! 93,446 72, 332 1 Includes other securities. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDEKA.L EESEKVE BANK 155 No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued DALLAS [In thousands of dollars] Bills bought United States Bills in open mar- securities Deposits Date c a u T n b r d o i i l t t l i a s s e e l s - 1 c b o m d a u b f e i o n n e s m r - r k te s - d B r o o ig u u h t g - t h k t et U r m e e n sa n d l t e e r B r o o i u u g t g h - t ht U r a m e g n s e r a d e n l e e t e - r re T c se o a r s t v h al e s j | i Total i ; ; i : ! | M b re a b e s l a a m e n n r b v k c i e e r s p O o t d s h e i - e t r s 1 c F r i u e n n e s l o d a e c t e t r e i i r v r s o a - e n l 1928 Jan. 4___ 57, 769 3, 21, 663 31, 700 64,410 69,156 I 67, 869 1,287 46,837 Jan. 11 __ 57, 835 3,006 23, 226 31, 603 66,890 73,720'! 69, 275 4, 445J 44, 394 Jan. 18.. 57,'""" 5,423 22,170 386 29, 969 60, 618 68, 535 I 67,070 1, 465 42,973 Jan. 25.. 51, • 4,615 19,615 500 26, 768 65, 775J 68, S18ji 67, 351 1,467 41,184 Feb. 1— 48, 637 4, 17, 832 450l 25, 867 69, 86OI 70, 976 69, 661 1, 315140,089 Feb. 8... 44, 620 3,156 16, 639 24, 825 73,717| 71, 349 70, 365 984 39, 267 Feb. 15.. 43,410 3,771 14, 622 24,817 200 75, 7351 72,9971 71, 459 1, 538 38,195 Feb. 21 __ 42, 801 3," 13,916 24, 817 100 73, 660 70,451 68, 826 1, 625 38,114 Feb. 29.. 40, 377 2,647 12, 914 24, 816 74, 902I 69, 364; 68, 349 1,015 37, 330 M M a a r r . . 1 7 4 .. . 4 4 2 2 , , 0 56 4 5 4 3 3, , 7 4 5 4 4 2 1 1 3 3 , , 6 7 7 0 7 6 400 2 2 4 4 , , 8 6 1 1 7 3 200 7 7 0 1 , , 3 2 10 2 J 0! 6 6 8 9 , , 6 5 3 4: 5 6 6 7 8 , , 7 4 9 8 2 3 1, 8 06 43 4 3 3 5 7 , , 1 9 7 5 5 8 Mar. 21. 40, 938 3,153 13, 344 24, 006 435 70,146 65,003 64, 520 483 35, 812 Mar. 28- 41, 549 4, 315 12, 787 73 24, 014 360 69, 919 68, 538 65, 993 2, 545 34, 755 Apr. 4... 41, 571 4,943 12,185 219 23, 874 350 69, 488 67, 6761 66, 904 772 34,905 Apr. 11.. 44, 388 7,172 13,010 212 23,434 65,063 66, 756! 65,197 1,559 34, 369 Apr. 18.. 45, 051 8,705 13, 978 600 20, 838 930 65, 501 67, 2591 66, 239 1,020 33,980 Apr. 25.. 44, 270) 9,471 13, 82' 600 19,217 1,155| 65,417 66,192j 63, 311 2,881 32,887 May 2_ _ 46,130 9, 895 16, 534 50 18, 516 1,135! 61,134 65, 526 64, 716 810 33,013 May 9_ _ 41,1521 6,832 16,126 18 17, 612 564 S 67, 722 67,212 65,91" 1,295 32, 779 May 16_. 40,070 7,144 14, 83' 16, 773 1, 298| 66, 930 66: 6041 65, 303 1,301 32,017 May 23.. 40, 655) 9,062 14, 87' 15,418 65, 731 66,015 64, 736 1,279 31, 531 May29_. 42, 517 11,332 15, 024 200 14, 663 62, 450 65, 635 63, 930 1,705 30,994 |l June 6._. 44,154 12,475 15, 552 14,829 63, 231 66.125 64, 401 1,724 31,893 June 13_. 42, 602 11, 04S 15, 491 14, 762 61,813 65, 294 64,070 1,224 31,074 June 20_. 40,790 11, 34( 14, 661 14, 780 65, 2361 65, 084 64, 339 745 30, 771 June27_. 39,057 10, 312 13, 921 14, 824 63, 709; 64, 234 63, 807| 427 29, 931 July3___, 40, 816 11,910 12, 612 14, 824 61,148; 64, 3681 63, 101 1,267 30, 353 July 11__. 39, 200! 11,479 12, 003 14, 853 67, 278, 65, 277 2,001 30, 097 July 18... 44, 881 18, 250 11, 362 14, 852 60, 549| 66, 221 65,126 1,095 29, 898 July 25. _. 48,459 22, 611 10,179 14, 852 56,137 j 66,460 64,191 2,269 29,498 Aug. 1... 53, 289 26, 758 10, 614 93 14, 853 50, 792j 65, 719 64, 251 1,468 29, 555 Aug.8_._. 57, 935 30, 774 11,835 14, 310 46, 506 66, 504 3,805 30,479 Aug. 15... 57,400 29, 638 12, 486 14,310 45, T " 63,841 62,427 1,414 30, 320 Aug. 22... 58, 868 29, 527 13, 527 14, 310 46, 354 64, 854 63,133 1, 721 31,833 Aug. 29— 59,086 30,468 12, 592 14, 310 48,115 64, 593 63, 019 1,574 32, 278 Sept. 5... 56, 350 29,914 10, 623 12 14, 310 52,483 64,475 63,382 1,093 36,015 Sept. 12.. 56,178 28, 573 10, 611 618 14, 310 60, 263 68,9451 67,927 1,018 38,386 Sept. 19.. 58, 605 25,914 13,186 710 14, 304 63,119 70,696| 65,474 5,222 40, 300 Sept. 26.. 62, 350 29, 245 15,443 100 14, 303 57, 385 68,397 66,538 1,859 41, 635 Oct. 3___. 60,381 26, 293 16, 230 296 14, 304 63,909 70,350 67,554 2,796 44,609 Oct. 10... 60, 272 22,847 17, 747 836 14.083 65, 443 70, 255 69,384 871 45,841 O O O c c c t t t . . . 3 2 1 1 4 7 . . . . . . . . . 6 6 59 4 3 , , , 2 1 6 0 1 0 9 4 0 2 2 2 2 4 1 , , , 4 8 9 7 4 6 4 0 2 2 2 1 0 1 8 , , , 1 1 1 4 2 9 6 3 2 2 5 7 2 4 7 0 0 8 1 1 1 4 4 4 , , .0 2 2 8 8 7 4 8 8 6 66 6 , , 9 2 1 7 0 7 7 7 7 2 1 1 , , , 4 7 5 5 0 7 9 1 5 | 1 i 7 7 7 0 0 0 ; , , 5 3 6 6 5 2 6 2 5 2 1 , , 2 1 8 4 0 3 9 9 4 4 4 4 8 7 8 , , , 0 3 5 4 5 8 2 1 1 Nov. 7... 65,922 24,434 22, 475 14, 288 67, 622| 72, 790! 70,275 2,515 48, 756 Nov. 14.. 61,411 19,103 23, 295 14, 288 65,460j 71, 335i 70, 040 1,295 47, 260 N No o v v . . 2 2 8 1- . . . 6 6 3 5 , , 0 2 7 7 8 3 1 19 8 , , - 7 1 " 8 2 2 4 4 , , 9 99 3 1 8 750 1 1 4 5 , , 7 4 6 9 7 4 6 64 4 , , 1 1 3 9 8 1 1 7 7 3 3, , 0 8 5 0 1 6 1 j 7 7 2 2 , ,0 0 2 1 7 4 1 1, , 7 0 7 3 9 7 4 4 7 7 , , 3 3 9 4 7 0 m Dec. 5.... 64, 249 19, 935 24, 677 129 14, 288 67, 284j 73, 920! 71,365 2,555 Dec. 12... 61, 530 17,365 23, 962 369 14, 624 71,017| 76, 950 74, 326 2,624 48,396 Dec. 19. _. 63.405 17, 523 23, 882 496 14, 294 66, 5081 70,945 70, 541 404 48,040 Dec. 26... 56, 687 15, 660 23, 622 917 9,988 75, 370 72, 473 71, 389 1,084 49, 236 50, 594 1 Includes other securities. 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156 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued SAN FRANCISCO [In thousands of dollars] Bills bought United States Bills in open mar- securities Deposits Date c a u T n b r o d i i t l t i l s a e s e l s - 1 c b m o " a b u d f e o n e n i m s r r k t - e - s d B rr o ilgg u Mn g t h k t e ! t m !^ ent B r o o ig u u h t g - t ht ment re T c s o a e t s r a h v l es Total M b r a e e b l s m a a e n b n r k c v e e e r s p O o d t s e h i - e ts r c F r i u e n n e s l o d a e c t e t r e i i v r r o s a - e n l 1928 Jan. 4... 95,82: 35,851 6,876! 7,018 46,076 284, 832 191, 669 182,943 8,726; 175,308 Jan. 11.. 87,182 28,459 12,975j 1,704 44, 044 297, 024 205,424 198,924 6,500! 163,421 Jan.18._ 110,975 54,239 14,410i 985 41,341 254,008 188, 27' 180,440 7,8341 159,494 Jan. 25.. 102, 582 51, 571 14,748;. 36, 263 256,811 186, 60' 179,7~~ 6,819| 153,324 Feb. 1— 106,532 54, 770 16,219l 710 34, 833 250,085 181, 665 5,233! 152,056 Feb. 8... 109, 223 54, 275 21,765. 33,183 248, 586 187,082 181,391 5,691 152,472 Feb. 15.. 110,086 50,865 23,432 2,606 33,183 252, 690 194, 600 186, 229 8,37l! 152,601 Feb. 21.. 116, 773 57, 696 22, 578 3,316 33.183 237,904 184, 597 177, 780 6,817 150,499 Feb. 29.. 123, 611 64,919 25, 509; 33,1831 234, 301 188,364 180, 955 7,409 150,407 Mar. 7.. 126,175 66,149 26,01' 825 33.184 221,356! 174,311 167, 725 6,586 153, 337 Mar. 14. 124, 750 66, 358 25, 53: 32,861 230, 656 185, 601 179,911 5,690 150, 274 Mar. 21. 125,034 63,459 26, 32' 3,347 31, 901 223, 325 178,706 173,086 5,620 148,430 Mar. 28. 107, 111 48, 955 21, 545 4,691 31,920 241, 453 181, 941 175,459 6,482 148,460 Apr. 4— 109,458 57,414 18, 527 31,709 245, 941 182, 658 176, 642 6,016 153, 777 Apr. 11- 105,020 51,164 19,266 3,589 31, 001 257,452 187,470 180, 697 6,773 156, 691 Apr. 18.. 118,395 66, 775 23,913 836 26,871 243,189 187,961 181, 707 6,254 155, 397 Apr. 25- 116,065 65, 555 26, 209 24, 301 246, 514 188, 750 8,724 153,477 May 2__ 121,912 71,968 26, 697 57 23,190 250, 290| 193,165 184,905 8,260 157,047 May 9__ 103, 628 56, 201 25, 669 21, 758 266, 799 190,085 182, 513 7,572 159,470 May 16_. 110,017 63, 646 25,950 20,421 259, 602 190, 336 182, 992 7,344 158, 394 May 23_. 105, 912 64,196 23, 239 200 18,277 260, 443 186, 864 179, 531 7,333 156,448 May 29_. 103,142 64, 330 19,329 2,402 17,081 261,409| 186, 633 178,510 8,123 157, 399 June 6-_. 106, 665 69, 607 17, 447 2,267 17, 344 261, 21l| 185, 763 178, 804 6,959 160,934 June 13- 102, 307 65, 676 16,063 3,330 17, 238 283,435 190, 301 184,126! 6,175 174, 599 June 20. 64, 710 27, 664 18, 384 1,395 17, 267 322, 592 189, "" ' 183, 644 6,240 176, 676 June 27- 68, 285 30,876 17, 285 2,788 17, 336 312, 6711 184,144 178, 624 5,520 176, 755 July 3— 94, 749 56, 255 17, 459 3, 699 17,336 307, 238 193, 676 184, 524 9,152 189, 232 July 11- 88,314 49, 899 19, 899 1,134! 17,382 293,542 189, 236 183, 040 6,196 174,166 July 18- 96, 655 18,7r 548! 17,382 276, 746! 187,101 179, 770 7,331 167,321 July 25.. 105, 081 67, 558 19, 516 625 17, 382 268, 0761 188,458 179,481 8,977 163, 863 Aug. 1__ 101,479 64, 010 19, 718 369 17,382 270,4511 188, 759 179,422 9,337 164, 323 Aug. 8__ 109, 669 72, 781 18, 648 1,719 16, 521 265,740 189,944 179,006 10,938 165,862 Aug. 15_ 112, 575 75,329 19, 620 1,104! 16, 522 258, 854 184,478 177,418 7,060 165, 330 Aug. 22_ 119,471 81,472 19, 709 1, 768! 16,522 254,631 186,967 178,418 8,549 166.492 Aug. 29 _ 127,476 85, 541 19, ' 4,156! 18,720| 245.661 185, 329 175,965 9,364 166,852 Sept. 5-. 143,854 100,846 20,572 3,716j 18,720 235,341 185, 248 178,955 6,293 174,169 Sept. 12. 150.613 99, 071 27, 541 5,281 18,720 237, 744.! 195,412 187, 032 8,380 173,640 Sept. 19. 142,148 87, 628 30, 271 5,529 18,720 239,108 192, 200 183,031 9,169 171,052 Sept. 26 _ 119, 543 63,715 32,173 6,474 17,181 261, 539 190,139 182,162 7,977 169, 650 J Oct. 3-._ i 132,655 75,565 33,588 6,321 17,181 252,700! 193, 234 184,180 9,054 171,055 Oct. 10_. | 131,106 .72,377 35, 748 6,809 16.172 254, 052 190, 723 183,639 7,084 170.493 Oct. 17.. ! 132,169 76,103 36,393 3,500 16.173 251,476 197,234 188,686 8,548 168,648 Oct. 24.. 133,942 77,459 36, 299 3,549 16,635 245, 8381 193,537 185, 284 8,253 164,307 Oct. 31_. 127,227 70,316 36,865 3,411 16,635 251,347; 191,559 184,185 7,374 164,338 Nov. 7__. 133,037 75, 759 38,472 2,171 16.635 252, 7561 194, 059 185,451 168,406 Nov. 14. 125,169 66,068 38,693 3,772 16.636 261,655! 200, 088 193, 049 7,039 166,812 Nov. 21. 128, 783 66,337 43, 546 1,525 17,375 250, 2161 193,698 187,444 6,254 164,820 Nov. 28.. 140.614 73,032 48,908 1,300 17,374 239,935 195,229 186, 387 8,842 164,469 m 139,148 71, 893 48,163 2,454 16, 638 247.662 198, 200 189,037 9,163 167,724 Dec. 5—. 124,131 55,358 49, 039 2,553 17,181 259, 083 193,654 180,105 13,549 168,934 Dec. 12.. 136,339 65, 036 51, 520 2,868 16, 665 244, 770! 189, 815 180, 707 9,108 172,312 Dec. 19- 131,545 56,108 55,024 3,061 17,102 253,1031 192, 081 179, 946 12,135 176, 593 Dec. 26... 1 Includes other securities. 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NO. 77.—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS OF EACH FEDERAL RESERVE BANK. 1928 Federal Reserve Bank Total Boston {New York Ph p il h a i d a el- Cleveland Richmond 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- NUMBER OF PIECES HANDLED: 1928 Bills discounted: Applications 123,008 9,252 18,318 18,086| 11, 348 16, 552 10, 259 13,056 9,115 2,243 5, Oil! 3,850 5,918 O Notes discounted... "I 443, 265 65, 671 38, 05i 41, 284 21, f 51,198 60,473 26,902 23, 773 23, 714 26,094! 16,117 Bills purchased in open market for own account 251,035 47,587 95,845 6,580 14,207 5,648 9, 268 22, 062 2,358 6,804 66,,994477 11,948 21,781 Currency received and counted 2, 270, 555,000242, 602, 000 666, 298, 000 214,881,000 148,386,000 109, 237,000 122!,, 280, 000 376, 595,000 116i., 552, 000 39, 464,000 59, 698,000 51,125, 000; 123,437,000 Coin received and counted 2, 929, 091, 000213, 018, 00011,341,374,000 328,886,000 175,442,000 133, 611,000 60, 994,000 279, 743,000 154i, 633, 000 10, 056,000 72, 308, 000 43, 351, 000 115, 675, 000 3 Checks handled 887, 997, 000 86,246,000177,303,000 68,338,000 81,761,000 54,570,000 31, 384,000 123, 365,000 50, 887, 000 24, 874, 000 69, 569,000 39, 799, 000 79, 901, 000 Collection items handled: United States Government coupons paid 28, 765, 000 2,191,000 7,602,000 2, 545,000 3,812, 000 900,000 663,000 4, 743, 000 1, 703, 000 810,000 1, 481, 000 493, 000 1, 822, 000 Allother 6,461,000 409,000 2, 616,000 552,000 386,000 282, 000 155,000 702, 000 270,000 296, 000 324, 000 129, 000 340,000 g United States securities, issues, redemptions, and exchanges 6, 682,000 449,000 1, 504,000 554,000 766,000 232, 000 169, 000 1, 377, 000 473, 000 224,000 440,000 127,000 367, 000 tj Transfers of funds 2,011,000J 62,000! 403,000 117,000 115,000 142,000 85,000 337, 000 261, 000 69,000 140,000 127,000 153, 000 AMOUNTS HANDLED: 1928 (IN MILLIONS OF DOLLARS) Bills discounted 62, 413.0 4, 284. 6 24, 791.8 4, 969. i 6, 058. 5 3,840.11 1,326.6; 5,928.1 3,002. 2! 625. 4! 1, 359. 3 737. 7| 5 ,*.18.8 Bills purchased in open market for own account 4, 240. 7 748.4| 2,018. 5 139.8 195.4 103. 3 96.8; 324.6 36.21 71.7 114. 7i 322. 0 Currency received and counted 13, 315. 6 1,527.51 4,347.9 1, 220. 6 930.0 545. 7! 536.4 2,103. 7 513. 0 208. 3! 279.1 223. 3l 880,1 Coin received and counted 23. 6^ 668.1 51.2 16.3 14.9| 8. 2 38. 31 16.8 4.0 13.2 7.4! 26.5 Checks handled 301,703.! 21, 510. 5| 115,192. 0 28, 362. 0 30, 222. 6 13,990.1 11,975.81 29,077. 21 11, 780. 3 4, 591. 8 11, 523.6 8, 341. 5 15,136. 4 Collection items handled: United States Government coupons paid 543.4 41.4| 250.0 34.5 58.8 6.1 63.6) 18.8] 10.1! 18.1 5.6i 24.9 All other 7,414.4 797.0j 2, 808. 7 587. 7i 551.4j 163. 2| 1,004. g 208.1 146. 2! 300. 2| 218. 3| 340.1 United States securities, issues, redemptions, and exchanges 9, 002. 4 454. 3! 3, 985.1 508.1 578.5 221. 2; 236. 8i 1, 506. 8 326.3i 149. 6 289. 6! 268. 81 477.4 Transfers of funds 148,749.0 $, 070. 3| 55,469. 9 6, 021. 5 6, 932. 0 5,676. 5| 2, 296. 71 27,047.8 6, 283. 61 2,957. 4; 6,501.9! 5, 092. Oi 16, 399.4 J _i o, Back figures.—See Annual Reports for 1927 (Table 60), 1924-1926 (Part II, Table 6). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
158 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—VOLUME OF OPERATIONS OF BRANCHES OF FEDERAL RESERVE BANKS Noncash collec- Fiscal tion items agency handled issues, I Currency Coin redemp- Federal reserve branch ! received received Checks tions, Transfers and district number dis- and and handled and ex- of funds counted| counted counted Govern- changes ment All of U. S. coupons other securities I NUMBER OF PIECES HANDLED 1928 No. 2—Buffalo 3,981! 27,461, 000 13,401, 000 129,000 139,000 20, 000 19,000 No. 4—Cincinnati 48, 376, 000 19,308,000 !l.. 086, 000 36,000 114,000 23, 000 Pittsburgh 1 37, 230, 000!27,427, 000i 859,000 29, 000 130, 000 17, 000 No. 5—Baltimore ~7~ 0341 92, 000 10)22,, 205, 00019,027, 000; 486, 000: 141,000 67,000 34,000 Charlotte. 5, 558, 000 j6, 589,000 i 32,000 25,000 26,000 No. 6—Birmingham.. 7, 472, 000 4, 848, 000 [ 39, 000 15,000 3,000 6,000 Jacksonville.. 9, 202, 000 5, 781, 000) 53,000! 36,000 12,000 Nashville 2, 642, 000 5, 893, 000! 74, 000 i 30,000. 3,000 6,000 New Orleans. 12, 689| 22, 763, 000 4, 264, 0001 230, 000, 27,000 43.000 17,000 No. 7—Detroit 6, 582J 30, 608, 00023, 244, 000 i406, 0001 112,000 49,000 47,000 No. 8—Little Rock... 2, 764! 6, 262, 00015, 026, 000 55, 000 35,000 8,000 16,000 Louisville 5,667 38, 251, 000* 9, 962, 000 320, 000 j 25, 0001 36, 000 31,000 Memphis 5,077 11, 765, 000J 3, 500, 000 81, 000j 40, 000 10, 000 30,000 No. 9—Helena 459 743, 000 2, 550, 000 68, 000 18, 000 1, 000 i 10, 000 No. 10—Denver 4,077 13,345, 000 8,955, 000 293, 0001 45, 000 22, 0001 18, 000 Oklahoma City 7,851,000 6,697,000 19,131,000 73, 000 76,0001 10.0001 9,000 Omaha 5,874 6,964,000 5,814,000 11,557,000 230, 000 44, 000; 13, ooo; 29, 000 No. 11—El Paso 640 4, 293,000 3,431,000 2. 922, 000 31,000 13, 000 j 10,000 Houston 812 11, 003,000 14, 569,000 6,437,000 108, 000 37,000 2, 0001 28, 000 San Antonio.. 843 9, 241, 000 4,821,000 5, 372,000 53,000 14,000 10, 000! 14,000 No. 12—Los Angeles.. 2,092 62, 282, 00033, 051,000 34, 912,000 461, 000 82.000 j 5, 000 38, 000 Portland 1,289 6, 618, 000 7, 331, 000 8, 231, 000 225, 000 30.0001 41, 000 14, 000 Salt Lake 27.000 City 3,403 3, 627. 000 2, 017,000 8, 071, 000 112,000 95,000 i 9,0001 19,000 Seattle 1,303 10.732,000 10,339, 000 7, 385, 000 222,000 36,000 28, 000; 18,000 Spokane 3,892 1. 834, 000 956, 000 5, 021, 000 109,000 28,0001 13, 000| 11,000 Total ! 68, 478 529, 097, 000 452. 909, 000 268,814, 000 5, 835, 000 1, 208, 0001 664, 000 j 502, 000 i i I AMOUNTS HANDLED: 1928 (in thousands of dollars) No. 2. -Buffalo |l,042,837| 256, 0791 3,390| 3,306,423! 1,288 87,817 5,556 1,815,780 No. 4. -Cincinnati I _ j 134, 438! 6,525 6,573,8721 14,397 57,142 46,919 633,238 Pittsburgh I. j 365,701! 4,129 11,966,723; 16, 499 50, 268j 71,273 983,635 No. 5.-Baltimore |l.244,375 270,011! 10,492 4,294,471 6,910 129,836! 54, 243 1, 279, 219 Charlotte L | 47,020; 944 1,691, 92l! 256! 29,840 j 1,187,774 No. 6.—Birmingham..; _ 61,352: 1,073 1,908,994! 2521 20, 4681 818 122,178 Jacksonville. __<_ 83, 817 '• 1,311 1,956,382! 6681 23,583' 218,193 Nashville i _ 50,003: 413 1,874,360 i 429 i 50,1611 | 183,935 New Orleans..' 479, 552'. 110,526: 3,216 1,998,3471 2,1251 28, 649i 55, 680| 650, 567 No. 7.-Detroit 1,676,702! 551,005! 6,641 7,781,263! 8,496 155,759! 22,001 4,650,833 No. 8.-Little Rock...! 199,146j 39,399; 857 999.983! 397 29,008' 1,167 425,241 Louisville 1094,779! 107,056 2,389 2,710,932! 3,568 39,0101 11,006 679,486 Memphis i 85,126! 84,384 2,068 1,240,1751 757 51,0821 3,183 746,771 No. 9.-Helena i 2,5421 13,946 747 477,130 495 9,045S 1 185,280 No. 10.,—Denver i 302,192! 49,042 2,538 2,112, 788j 3,974 45,7941 7,110 840,519 Oklahoma ! j City 33, 492 1,5111 2,439,097! 958 47,276! 1,780 290, 721 Omaha 157, 3551 38, 045 2,348 1,740,003! 1,811 66,816 3,734 1,292,937 No. 11—El Paso 11,977! 25, 208 1,186 441, 204i 401 10,578 457 225,146 Houston 146,7741 45, 718 1,438 ], 682,186! 995 58,700 1,877 1, 638,733 San Antonio . 20,783! 40, 259 1,311 1, 051, 752 574 17,3631 836 421,228 No. 12,—Los Angeles. . 154, 264! 308, 573 6,789 5,496, 732 6,605 69,8771 20, 438 4, 704,001 Portland 121, 777 54,573 1,739 1, 524, 065 2,656 48,820; 5,937 696,841 Salt Lake City 155,026 30,956 1,272 1, 094,194 1,157 41, 340 2,197 575,991 Seattle 600,608 83,659 2,944 1,279, 738 2,176 41,556 5,590 1,090, 631 Spokane 20,117 14,817 606 630,331 720 17,261 2,394 241,032 Total _ _ 7,515,932 2,899,079 67,877 68,273,066 78, 564 1,227,049 324,200 25, 779,910 Back figures.—See Annual Reports for 1927 (Table 61), 1926 (Table 67), 1925 (Table 69), 1924 (Table 72), 1923 (Table 72), 1922 (Table 74), 1921 (p. 80), 1920 (p. 93), 1919 (p. 39). NOTE.—Currency received an counted during 1928 by agencies of the Federal Reserve Bank of Atlanta: Havana, Cuba, 3,559,000 pieces, amount $29,837,000; Savannah, Ga., 2,696,000 pieces, amount $10,921,000, Coin received and counted by Savannah, Ga., agency, 291,000 pieces, amount $72,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDERAL RESERVE BANK 159 GOLD SETTLEMENT FUND No. 79.- -GOLD SETTLEMENT FUND—SUMMARY OF TRANSACTIONS THROUGH THE FUND, BY DISTRICTS, 1928 [In millions of dollars] Daily settlements between Bal- Federal reserve banks ance in Interreserve fund Feder b a a l n r k eserve J a B a n n a c . l e - 1 Transit clearings F s c e e l r d e v e a e r r i a n n l o g r t s e e - bank transfers W dr a a i l t s w h - - p D os e i - ts cl a o o t f se business Pay- Re- Pay- Re- Pay- Re- Dec. ments ceipts ments ceipts ments ceipts 31 1928 Boston 19.9 12,153.7 12, 279. 2 61.0 50.1 141.7 5.6 125.0 154.1 27.6 New York 159.3 42, 719. 3 42,478. 8 122.2 182.1 289.3 735.0 1,113.1 831.1 142.4 Philadelphia 37.2 10,006. 8 10,157. 3 73.1 61.9 106.3 10.1 240.2 194.5 34.6 Cleveland 43.4 9, 998. 2 10,025. 0 102.5 49.5 88.5 74.0 92.5 162.2 72.5 Richmond 20.8 10, 023. 5 10, 077. 5 29.8 43.9 94.5 24.6 103.8 98.7 14.0 Atlanta 11.8 4,123. 2 4,187. 4 39.6 40.4 108.0 8.1 284.9 320.8 12.9 Chicago - . 103.2 18,064.4 18,081. 9 103. 4 87.2 125.0 83.8 153.0 269.7 180.1 St. Louis 18.1 7,150. 2 7, 029.0 28.1 40.8 8.0 73.7 114.5 171.4 32.3 Minneapolis- 16.8 2,337.1 2,318.1 19.6 21.6 10.3 27.7 31.0 43.5 29.6 Kansas City. 27.5 5, 700. 6 5, 585. 6 27.6 30.5 15.5 69.2 46.0 128.9 52.0 Dallas 14.7 4, 349. 7 4,433. 9 16.4 20.0 61.5 7.9 45.5 30.1 33.5 San Francisco 55.3 5,898. 6 5, 871. 5 35.3 30.3 124.0 53.0 506.1 609.5 55.6 Total 528.2 132, 525. 2 132, 525. 2 658.4 658.4 1,172. 6 1,172. 62,855. 63, 014. 4 687.0 Back figures.—See Annual Report for 1927 (Table 66), 1926 (Table 61), etc. FEDERAL RESERVE AGENTS' GOLD FUND No. 80.—SUMMARY OF TRANSACTIONS THROUGH THE FEDERAL RESERVE AGENTS' FUND, BY DISTRICTS, 1928 [In millions of dollars] I Balance at Balance With- Transfers Transfers close of Federal reserve bank Jan. 1 drawals Deposits to bank from bank I business Dec. 31 Boston 74.0 110.0 54.0 90.0 125.0 53.0 New York 95.0 355.0 265.0 5.0 Philadelphia . 65.8 57.2 238. 2 101.8 Cleveland 125.0 90.0 20.0 55.0 Richmond—. 32.5 2.0 74.5 44.0 Atlanta 121.0 73.6 271.3 284.4 60.5 Chicago 245.0 4.0 120.0 90.0 211.0 St. Louis 31.5 35.0 89.0 110.5 20.0 Minneapolis-.. 33.0 6.0 18.0 22.0 31.0 Kansas City__. 55.9 38.0 12.0 22.5 46.0 53.4 Dallas 13.5 15.5 .5 16.0 24.5 7.0 San Francisco.. 168.7 14.0 502.4 468.0 120.3 Total. 1,028. 3 473.6 70.5 1, 631. 4 1, 768.1 761. £ Back figures—See Annual Report for 1927 (Table 68), 1926 (Table 63), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
160 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MEMBERSHIP IN PAR COLLECTION SYSTEM No. 81.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, BY DISTRICTS, 1928 Nonmember Nonmember Nonmember banksi banksi banksi Mem- Mem- Mem- End of month ber ber ber banks On par Not on banks On par Not on banks On par Not on list par list list par list list par list Boston district New York district Philadelphia district January. _. 415 247 935 408 777 500 February.. 413 247 934 407 779 501 March 414 ; 248 931 407 783 499 April 412 248 934 407 782 497 May 412 248 930 407 785 497 June 410 249 934 410 786 496 July 410 250 935 410 784 498 August 409 251 933 411 785 497 September. 408 ; 251 933 411 784 496 N D O o e c c v to e e m b m e b b r e e -- r r . . . 4 4 4 0 0 0 9 8 8 i ; i 2 2 2 5 5 5 1 1 1 9 9 9 3 3 3 5 8 7 4 4 4 0 0 1 9 8 0 7 7 7 7 8 7 9 1 8 4 4 49 9 9 3 3 4 Cleveland district Richmond district Atlanta district January 835 1,029 564 652 588 463 309 1,013 February.. 834 1,030 562 648 575 460 308 1,011 March 833 1,027 562 640 581 460 304 1,012 April 827 1,025 559 637 581 459 304 1,013 May 825 1,026 558 636 580 456 306 1,010 June 823 1,024 557 636 579 457 310 1,005 July 821 1,024 555 638 579 456 310 1,003 August 820 1,021 554 637 579 456 310 1,000 September. 819 1,021 554 635 581 455 305 1,003 October. _. 819 1,017 553 632 577 454 309 982 November. 820 1,012 550 631 570 454 316 969 December. 816 1,007 547 572 453 315 959 Chicago district St. Louis district Minneapolis district January 1,284 3,684 1,880 450 735 746 1,135 February.. 1,276 | 3,673 191 593 1,874 447 732 733 1,136 March 1,274 i 3,669 192 592 1,855 451 729 728 1,134 April 1,266 ! 3,653 193 593 1,834 454 730 718 1,130 May 1.263 | 3,644 198 593 1,824 461 729 716 1,127 June 1.264 ' 3,628 199 593 1,812 462 728 709 1,133 July 1,262 , 3,619 202 592 1,802 467 727 713 1,127 August 1,262 ! 3,610 204 593 1,795 469 725 702 1,133 September. 1,261 ! 3,602 208 591 1,788 474 724 700 1,132 October-_. 1,258 ; 3,591 206 589 1,778 479 724 697 1,129 November. 1.255 i 3.582 211 589 1,762 486 723 687 1,117 December. 1,252 ! 3,570 213 587 1,757 490 719 672 1,123 Kansas City Dallas district San Francisco district January 965 i2,346 267 795 653 207 653 701 59 February. .. 961 •2, 327 271 794 652 205 649 701 59 March 956 2,310 274 794 652 199 643 696 57 April 951 i2,291 273 792 652 197 644 694 57 May 947 !2,281 272 792 647 200 645 693 58 June 945 i2,272 277 791 642 204 641 700 57 July 945 I2,260 284 789 640 205 644 700 57 August 944 i2,261 283 787 641 203 644 702 55 September.. 940 !2,255 286 637 204 644 699 56 October 939 2,251 288 633 209 644 698 56 November.. 936 2,241 286 633 210 644 695 55 December.. 932 2,234 282 626 208 627 681 55 1 Incorporated banks other than mutual savings banks. Back figures—See Annual Reports for 1927 (Table 71), 1926 (Table 64), 1925 (Table 65), 1924 (Table 71), 1923 (Table 71), 1922 (Table 73), 1921 (Table 71). 1920 (Table 63). 1919 (Table 55), and 1918 (Table 48). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDERAL RESERVE BANK 161 No. 82.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST IN EACH STATE ON DECEMBER 31, 1927 AND 1928 1927 1928 Nonmember banks Nonmember banks State Member Member banks On par Not on banks On par Not on list par list1 list par listl New England: Maine 60 49 50 New Hampshire 56 14 57 13 Vermont 46 39 46 39 i Massachusetts _ 178 72 178 73 Rhode Island 17 8 15 9 ! Connecticut 86 Middle Atlantic: New York 672 274 673 273 New Jersey 362 177 363 174 Pennsylvania 966 629 965 616 East North Central: | Ohio 419 629 | 404 619 I Indiana 247 795 j 240 758 ( 6 Illinois 569 1,247 i 23 563 1,227 I 28 Michigan 287 587 ! 3 289 578 2 Wisconsin 175 578 | 218 174 570 ; 225 West North Central: Minnesota 296 322 i 552 291 265 551 Iowa 345 1,080 | 56 321 1,009 74 Missouri 197 1,176 i 38 190 1,104 50 North Dakota 143 72 ! 306 134 64 278 South Dakota 106 143 165 105 134 169 Nebraska 163 638 235 159 563 j 263 Kansas 263 3 254 845 3 South Atlantic: Delaware 23 33 I 34 Maryland 89 165 L 163 District of Columbia- 13 31 |_ 12 31 Virginia 179 213 97 177 202 103 West Virginia- __ 137 9 136 180 9 North Carolina 85 305 83 61 298 South Carolina 74 19 176 64 18 162 Georgia 134 52 290 128 43 272 Florida 70 87 155 82 125 East South Central: Kentucky 148 412 24 147 i 403 23 Tennessee 112 178 249 109 | 190 236 Alabama 121 21 210 121 j 22 210 Mississippi _. 40 20 271 17 268 West South Central: Arkansas _. 101 209 138 I 100 ! 167 168 Louisiana. 42 25 167 42 ! 24 166 Oklahoma __. 344 336 4 327 I 334 I 5 Texas 737 629 122 720 1 590 i 12G Mountain: Montana 99 12 92 j 20 Idaho 75 1 60 78 1 Wyoming 32 51 5 29 53 5 Colorado 128 162 6 126 154 6 New Mexico.. __. 31 27 1 30 26 2 Arizona 18 26 4 18 26 3 Utah 44 64 43 62 Nevada 10 25 10 25 Pacific- Washington 155 159 153 158 35 Oregon 124 100 122 98 19 California. 244 267 226 242 Total. 9,034 13,247 3,910 !,837 12, 643 3,911 * Incorporated banks other than mutual savings banks. Back figures.—See Annual Reports for 1926 (Table 65) and 1924 (Table 70). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
162 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD EARNINGS AND EXPENSES OF EACH RESERVE BANK No. 83.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1928 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 t s o t 1 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 +) ) All Federal reserve banks: 1914-15 $2,173, 252 -$141,459 $217,463 -$358,922 1916 5,217,998 2, 750, 998 1, 742,774 +1, 008,224 1917 _. 16,128, 339 9, 579,607 6,801, 726 $1,134, 234 $1,134, 234 +509,413 1918 67, 584, 417 52, 716, 310 5,540, 684 48, 334, 341 -1,158,715 1919 102,380, 583 78,367, 504 5.011. 832 70, 651,778 2, 703, 894 1920 181, 296, 711 149, 294, 774 5,' 654J 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 1927 43, 024, 484 13, 048, 249 7, 754, 539 5,044,119 249, 591 1928 64, 052,860 32,122,021 8,458,463 21,078,899 2, 584,659 Total 833,672, 525 478, 813,242 81,088, 547 254,898,352 142,826,343 Boston: 1914-15 125, 459 -34, 603 -34,603 1916 490, 888 295,935 249, 735 +46, 200 1917 1, 285, 884 740, 359 601, 756 75,100 75,100 -11,597 1918 _ 4, 475,195 3, 305,180 384,180 2,921,000 1919 7,497, 583 5, 777, 381 414.447 5, 362, 934 1920 12, 273, 253 10, 272, 564 447, 266 7, 351, 799 2,473,499 1921 6,968, 662 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 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 1927 2, 975, 357 837,612 550. 446 287,166 1928 4, 465, 342 2,316,522 | 590,830 1, 725, 692 Total 56, 772, 258 32,909,716 !• 6,179,456 19,618,865 7, 111, 395 New York: 1914-15 345, 035 -123,887 -123,887 1916 971,026 414,064 127,113 +286,951 1917 4,929, 214 3, 078,481 1, 942, 819 649,363 649,363 -163,064 1918. . 25, 314, 736 21, 662,917 1,195,026 20,467,891 1919 35,332,412 27,959,619 1, 291, 047 23, 964,678 2, 703,894 1920 60, 525, 321 53,128,130 1,477, 096 12, 332, 523 39,318,511 1921 34,710, 274 26, 093,832 1, 608,721 3, 782, 671 20,702,440 1922 11, 349, 279 3, 721, 593 1, 652,138 -1,397,603 3,467,058 1923 11, 413,183 3, 043, 679 1, 749, 239 129,444 1,164,996 1924 8, 569, 350 616,852 1, 796, 530 -1,179,678 1925 10, 217,174 3,103, 298 1,888,196 1, 215,102 1926 10; 600, 968 3, 749, 748 2,100,191 1, 649, 557 1927 10, 647, 759 3, 720, 601 2, 327, 355 1,393,246 1928 18,483, 042 11,018,433 2, 743, 725 8,274,708 Total.. 243,408, 773 161,187,360 21,899,196 71,281,902 68,006,262 Philadelphia: 1914-15 113,972 -31,517 -31, 517 1916 448,180 249, 941 128,458 +121,483 1917 1, 095, 540 753. 875 623, 603 +130, 272 1918 4, 357, 740 2. 972. 089 583, 983 2, 608, 344 -220, 238 1919 8, 609,880 6, 659,169 462, 380 6,196, 789 1920 11, 848, 551 9,065,116 496, 679 8, 204, 775 363, 662 1921 8, 008, 095 5, 339, 454 517, 663 935, 239 3,886, 552 1922 4, 251, 950 2, 236,876 541,552 803, 594 891, 730 1923 4, 592, 771 2,177,837 582. 292 1,178, 588 416, 957 1924 2, 915, 846 747, 092 615,135 131,957 1925 3,135, 550 1, 078,120 673. 212 404,908 1926 3, 626, 648 1, 533, 733 730, 598 803,135 1927 3,363, 626 1,176, 469 ! 781, 540 394, 929 1928 5,394, 546 3, 282, 641 843, 755 2,438, 886 Total 61, 762,895 37, 240,895 7, 580,850 24,101,144 i 5,558,901 i Amounts shown as transferred to surplus account for 1922 are net, i. e., after the deduction of amounts charged to surplus account on Dec. 31, 1922, and paid to the United States Government as franchise tax. For prior years as follows: For 1920—New York, $270,389; for 1921—Boston, $247,350; New York, $1,334,160; Philadelphia, $36,366; Richmond, $20,459; Atlanta, $213,629; Chicago, $710,190; Minneapolis, $52,423; Digitized foKr aFnRsaAs SCEitRy, $208,170; San Francisco, $306,926; total, $3,129,673. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EACH FEDEBAL RESERVE BANK 163 No. 83.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1928—Continued Earnings Disposition of net earnings Federal reserve bank Trans- Franchise Profit (+) Gross Net Div p i a d i e d nds s fe u r r r p e l d u t s o l t U e a r . x n S p m . a e i G d n t o t o v ! - or f c o l a o r r w s r 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 1927 4,197,836 1,108,190 832, 583 275, 607 1928 6,250, 553 3,180, 715 856,843 2,323,872 Total 71,210,125 39,202, 710 8,847,675 26,345,334 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 1927 2,086,303 497, 711 372,230 125,481 1928. 2,857, 648 1,118,960 370,683 74,828 673,449 Total 40,339, 079 21, 905,687 4,183,264 12,398,496 5,323, 927 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 1927 . 2,067, 839 669, 904 305,817 364, 087 1928 3, 578,156 1, 693, 985 312,259 558,425 823,301 Total 40,404, 322 21,957,307 3,256,258 10,554,278 I 8,146,771 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, 57G, 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 i 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 1927 6,167, 352 1, 927, 645 1,029,990 897, 655 1928 8, 936,418 4, 763,429 1,099, 761 3,663,668 Total 119, 755,066 70,976, 290 10, 914, 997 36,442,118 • 23,619,175 1 See note on p. 162. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
164 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 83.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1927—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds fe T r r r a ed n s t - o t U F ax . r a S p n . a c G i h d i o s t v e o - o P r r c o l a o f r i s r t s i e ( ( d — +) ) surplus i ernment * forward 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 5,160,315 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 1927 2, 228, 079 775, 681 317, 727 457,954 1928 . 2,901,925 785,159 321,855 423,011 40, 293 Total 36, 660, 800 16, 690, 454 3, 624, 835 10,819,978 2, 245, 641 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 ] 95, 871 3, 410,948 524, 234 1921 4, 966, 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, 009 26, 043 234, 381 1927 1, 390, 031 296, 077 180, 726 11, 535 103, 816 1928 -- 1,710,304 614,704 181, 203 43,350 390,151 Total - 27, 847, 355 14, 689, 632 2, 549, 865 7, 581,915 4, 557,852 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, 451,936 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 1924 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 1927 2,304, 938 414,726 252,753 16,198 145, 775 1928 2,597,968 659,760 253, 254 40,651 365, 855 Total 41, 263,325 18,673,945 3, 329, 848 9,086,330 6, 257, 767 * See note on p. 162. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BACH FEDERAL RESERVE BANK 165 No. 83.—GKOSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1927—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds f s e u T r r r r p e a d l n u s t s - o 1 t U F e ax . r r n a S p n m . a c e i G h d n i t o s t e o v i - 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 ) ) 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 1927 1,741,922 568, 209 256, 310 311, 899 1928 2,119, 666 713,455 258, 544 163, 301 $291, 610 Total 29,891, 319 12, 085, 776 3,103, 966 8, 690, 200 291,610 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, 387,360 296,161 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, 447 1926 4, 554, 860 1, 555,999 506, 068 1,049,931 1927 3, 853,442 1, 055, 424 547, 062 508, 362 1928 -. 4,757, 292 1,974, 258 625, 751 1,348, 507 Total 64,357,208 31, 293,470 5,618,337 17, 977, 792 7, 697,341 1 See note on p. 162. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 84.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS DURING 1928 EARNINGS I j Total Boston New York 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 I 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. _ _ $38, 334,140 '$2,465,266 $12,210,527 $3,498,453 $3,438, 719 $1,943,947|$2, 529,951 $5,427, 825 $1, 928,302 $490, 751 $1,034, 216 $669, 514 $2, 696, Purchased bills 13, 020, 535 j 1,486,467 3,482,649 932, 744 1, 249,560 685,8301 687,533| 1,301,910 206,700 19, 535 521,901 1,175,042 United States securities 10, 827, 702 j 454,142 2,421,172 914,403 1, 393, 522 166,544 245,502! 1,722,821 725,490 512,433 778,027 685, 693 807, 953 Deficient reserve penalties. 277,401 | 12,791 46,009 7,468 28,838 36,496 32,996; 44,287 15,023 7, 763 15, 232 13, 837 16, 661 Miscellaneous 1,593,082 j 46,676 322,685 41,478 139,914 24,831 82,174^ 439,575 26,410 89, 822 248, 592 69, 958 60,967 s Total earnings 64,052,860 I 4,465,3421 18,483,042 5,394,546 6,250,553 2, 857, 648| 3, 578,156;1 8, 936, 418 2,901,925 1,710,304 2,597,968 2,119,666 4,757,292 CURRENT EXPENSES o Salaries: Bank officers $2, 554, 649 $120, 000 $531,920 $138,916 $215, 800 $176, 500 $207,183 $307, 419 $168, 215 $117, 503 $169, 900 $155, 299 $245, 994 Clerical staff 11, 786, 262 869, 837 3,115,314 901,090 1, 060,447 592, 268 405, 5621, 712, 899 558, 968 350, 452 621, 265 520, 2351, 077, 925 Special officers and watchmen 870, 712 35, 745 187,333 49,293 104, 232 55, 675 36, 511 129, 351 47, 812 29, 962 66, 840 42, 732 85, 226 All other. 1, 848,181 94,104 481,534 93,669 254,012 84,098 37, 656 275, 378 83, 202 65, 636 173, 036 75, 508 130, 348 Governors' conferences 6,392 212 694 230 400 243 398 344 400 687 644 682 1,458 Federal reserve agents' conferences 3,538 207 210 204 206 187 67 269 430 587 278 295 598 Federal Advisory Council 14, 078 676 706 533 792 832 1,089 1,054 1,300 1,150 1,300 1,346 3,300 Directors' meetings 150,617 6,983 18, 605 7,094 7,450 8,128 22, 651 9,797 14, 003 6,793 25,076 8,547 15,490 Traveling expenses i 222,178 4,860 33,023 14, 705 19,148 15, 970 19, 368 23, 687 21, 849 20,146 10,970 17, 367 21,085 Assessments for Federal Reserve Board's expenses 697, 677 51, 885 199,975 66, 695 71, 837 34, 939 28, 590 95, 764 29, 622 18,931 24,961 24,138 50, 340 I L n e s g u a r l a f n e c e e s (other than currency and se- 108, 745 1,981 10, 620 4,960 6,584 1,946 11, 323 3,444 2,187 27,839 7,600 16,397 13, 864 H curity shipments) 413, 432 28, 789 70,186 35,428 34, 818 21, 093 24, 374 31, 603 23, 748 30,899 39,433 27, 548 45, 513 IGO Insurance on currency and security shipments 612, 459 84, 354 119, 751 91, 508 70,981 34, 934 35, 600 67,496 14,132 14,163 18,400 21, 877 39, 263 Taxes on banking house 1,426, 929 122, 220 403, 230 40, 640 130, 922 38, 370 61, 045 281, 601 58,309 86, 306 93, 648 34, 059 76, 579 Light, heat, and power j 328, 050 20, 299 72, 999 20, 513 34,867 10,388 15,182 35,136 18, 713 17, 370 44, 785 19, 785 18, 013 H Repairs and alterations, banking house.. 193, 329 6,856 26,828 44, 529 30, 455 2,038 18, 891 21,373 9,363 7,656 10, 664 10,144 4,532 W Rent _ 264, 303 480 21, 291 1,420 92, 863 19,943 6,120 5,134 19,337 90 8,841 88 784 Office and other supplies 404, 965 22, 354 90, 587 30, 632 37, 648 19,431 21, 659 61, 235 20,021 19,403 28, 777 17, 211 36, 007 o Printing and stationery _ _ 457, 648 40, 995 77, 456 32, 620 41, 975 26,649 30,321 76, 749 27, 678 19, 370 22, 626 22, 622 38, 587 Telephone. _ 202, 593 20, 649 58, 950 26,179 14, 708 7,019 6,243 20, 638 12, 296 5,120 7,639 8,153 14, 999 Telegraph... 484, 788 6,041 50, 662 13,416 33, 204 34,825 64,419 41, 758 38, 818 17, 817 60, 001 52, 269 71, 558 1, 860, 311 211, 423 306, 755 177,196 159,525 125,174 99,074 243, 679 90, 722 63, 880 148, 795 93, 209 140,879 Expressage. _ 457, 085 40, 549 117,172 66, 665 33, 547 32,082 36, 918 55, 671 13, 976 8,399 13, 889 16,162 22, 055 Miscellaneous expenses.. 729, 989 39, 565 196, 586 51,382 53,150 31,088 35,621 82, 894 37, 852 47, 814 45, 647 41, 536 66, 854 >6,098,910 1,831,064 6,192,387 1,909, 5172, 509, 5711, 373, 8201, 225, 8653, 584,3731,312,953 977, 9731, 636,1741,235,962 2, 309, 251 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Federal reserve currency, including | shipping charges: I Original cost | 678,721 26,860 221,701i 64, 720 74,826 23,376 19,914J 90,615 19,051 20,992 20, 577 5,855 90,234 Cost of redemption \ 127,179i 12,079 30,177j 12,005 12,417 5,196 21,691! 4,790 1,509 5,229 3,662 11,069 Total current expenses | 26,904,8101 1,870,003 6,444,265j 1, 986, 242| 2,596,814 1,402, 392 1,253,134 3,696,679 1,336,794 1,000,474 1,661, 1,245,479 2,410, 554 PROFIT AND LOSS ,ACCOUNT Earnings. $64,052, 860 $4, 465, 342$18,483,042$5, 394, 546$6, 250, 553$2, 857,648$3, 578,156$8, 936, 418$2, 901, 925$1, 710, 304$2, 597,968$2,119,666$4,757, 292 Current expenses . _ 26, 904, 810 1,870,003 6,444, 265 1, 986, 2422, 596, 814 1,402, 392 1, 253,134 3, 696, 679 1, 336, 794 1,000,474 1,661,980 1,245,479 2,410,554 Current net earnings _ _ . _ 37,148,050 2, 595, 339 12, 038,777 3,408, 304 3, 653, 739 1,455, 256 2, 325,022 5, 239, 739 1,565,131 709,830 935,988 874,187 2, 346, 738 Additions to current net earnings: Withdrawn from reserve for probable losses __ 375,065 86 065 289 000 Allother... . . 196,412 2,532 97,169 1,481 3,193 1,057 5,462 II, 833 3,957 42, 879 17,996 5,491 3,362 Total additions 571,477 2,532 97,169 1,481 3,193 1,057 5,462 11,833 90,022 331,879 17,996 5,491 3,362 Deductions from current net earnings: Bank premises—depreciation.. 1,959, 289 122,048 545, 545 273, 532 129,151 85,673 192, 810 166, 745 91,982 168,188 42, 551 141,064 Furniture and equipment _ 638, 840 43,101 142, 768 38,873 56, 027 64, 597 49,980 68,872 51, 596 32,026 22,889 51,992 16,119 Reserve for probable losses 580, 766 50, 000 403,018 23, 658 104,090 Reserve for self-insurance _. _ 627,973 58. 706 19, 267 50, 000 250, 000 250, 000 Allother 2 1, 790, 638 116, 200 370,494 88, 271 127, 391 43, 605 97, 828 202, 803 401, 653 52, 997 103,147 71,680 U4, 569 Total deductions. __ 5, 597, 506 281, 349 1,117,513 127,144 476, 217 337, 353 636,499 488,143 869,994 427,005 294,224 166, 223 375,842 Net deductions from current net earnings 5, 026, 029 278, 817 1,020,344 125, 663 473, 024 336, 296 631, 037 476,310 779,972 95,126 276, 228 160, 732 372,480 Net earnings available for dividends, surplus, and franchise tax.. _ 32,122, 021 2, 316, 522 11,018,433 3, 282, 641 3,180, 715 1,118,960 1, 693,985 4, 763,429 785,159 614, 704 659,760 713,455 1,974, 258 Dividends paid . 8,458, 463 590, 830 2, 743,725 843, 755 856, 843 370, 683 312, 259 1, 099, 761 321, 855| 181, 203 253,254 258, 544 625, 751 Transferred to surplus account 21, 078, 899 1, 725, 692 8, 274, 7082,438,886 2, 323, 872 74, 828 558,425 3,663, 668 423,011 43,350 40, 651 163, 301 1, 348, 507 Franchise tax paid United States Government __ 2, 584, 659 673,449 823, 301 40, 293 390,151 365,855 291,610 REIMBURSABLE EXPENDITURES OF FISCAL AGENCY DEPARTMENT Salaries J $242,727 $12,112 $16, 345 $11,992 $5, 289 $81,152 $10,201 $13,640 $56,180 $8, 657 $10,403 All other 128,535 2,012 76,697 2, 360| 5,827 2,321 16, 507 3,580 6,212 4,528 1,797 3,386 Total. 371, 262 12, 320 22,172 15, 300 7,610 97, 659 13, 781 19, 852 60, 708 10,454 13, 789 i Other than those connected with governors' and agents' conferences and of the advisory council. 2 Includes net loss of $1,594,749 on United States securities sold. Back figures.—See Annual Reports for 1927 (Table 75), ]926 (Table 68), and 1925 (Table 67 and Part II, Table 5). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
168 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD CONDITION OF ALL BANKS IN EACH DISTRICT JVo. 85.—ALL BANKS—TOTAL LOANS AND INVESTMENTS1 OF MEMBER AND NONMEMBER BANKS, 1923-1928 [In millions of dollars] Non- Date 2 ba A n l k l s b M a b e n e m k r s - b m a b e n e m r ks - ba A n l k l s b M a b e n e m k r s - Boston district New York district Philadelphia district 1923—June 30_. 4,948 2,032 ! 2,916 12, 235 7,497 ! 4,738 3,195 ! 1,963 1,232 Dec. 31.. 4,989 2,017 ! 2,972 12,280 7,494 ' 4,786 3,224 i 1,969 1,255 1924—June 30. 5,139 2,052 3,087 13,187 8,071 : 5,116 3, 334 i 2,031 1,303 Dec. 31.. 5,285 2, 134 3,151 14, 023 8,667 5,356 3, 506 | 2,163 1,343 1925—June 30. 5,523 2,234 j 3,289 14,398 8,746 I 5,652 3,652 i 2,249 1,403 Dec. 31.. 5,705 2,362 i 3,343 14,925 9,297 j 5,628 3,811 ! 2,337 1,474 1926—June 30. 5,891 2,409 ! 3,482 15, 364 9,308 ' 6,056 3,920 1 2,420 1,500 Dec. 31.. 5,940 2,428 j 3,512 15, 728 9,667 ! 6,061 4,034 i 2,478 1,556 1927—June 30. 6,199 2,536 ! 3, 663 16,693 10,126 i 6,567 4,115 1 2,531 1,584 Dec. 31.. 6,367 2.583 ! 3,784 17,502 10,947 ! 6, 555 4,241 ! 2, 588 1, 653 1928—June 30. 6,644 2,642 4,002 18,202 11,098 i 7,104 4,365 i 2,656 1,709 Dec. 31.. 6,649 2,571 4,078 18. 776 11,593 ! 7,183 4,395 ! 2,666 1,730 Cleveland district Richmond district Atlanta district 1923—June 30. 2,735 1,163 2,200 1,182 1,018 1,410 920 490 Dec. 31. 3,910 2,725 1,185 2,224 1,204 1,020 1,490 978 512 1924—June 30. 4,050 2,827 1,223 2,237 1,193 1,044 1,454 934 520 Dec. 31. 4,158 2,915 1,243 2,273 1,220 1,053 1,531 995 536 1925—June 30 4,310 3,021 1,289 2,333 1,252 1,081 1,696 1,081 615 Dec. 31. 4,358 3,045 1,313 2,392 1,290 1,102 1,994 1,242 752 1926—June 30. 4,487 3.161 1,326 2,401 1,281 1,120 1,849 1,172 677 Dec. 31. 4,481 3,133 1,348 2,395 1,275 1,120 1,787 1,158 629 1927—June 30. *4,635 3,267 *1,368 2,423 1,311 1,112 1,726 1,141 585 Dec. 31_ *4,689 3,296 * 1,393 2, 517 1,362 1,155 1, 754 1,165 589 1928—June 30. 4,898 3,448 1,450 2,531 1,344 1,187 1,753 1,173 579 Dec. 31. 4,854 3,414 1,440 2,522 1,338 1,183 1,749 1,188 560 Chicago district St. Louis district Minneapolis district 1923—June 30. 6,174 3,906 2,268 1,883 | 1,155 728 1,665 | 769 Dec. 31. 6.190 3,899 2,291 1,907 | 1,182 725 1,604 i 741 1924—June 30. 6,324 4,010 2, 314 1,878 1,157 721 1,487 824 663 Dec. 31. 6,562 4,210 2,352 1,937 1 1,223 714 1,564 I 907 657 1925—June 30. 6,834 4,370 2,464 1,984 1,22b 756 1,571 I 683 Dec. 31. 6,999 4,479 2,520 2,067 1,310 757 1,567 ! 674 1926—June 30. 7,186 4, 579 2,607 2,086 1, 320 766 1,549 668 Dec. 31. 7,174 4,543 2,631 2,059 1,313 746 1,495 633 1927—June 30. 7,407 4, 712 2,695 •2,096 1,337 *759 1,485 I 851 634 Dec. 31. 7,495 4,859 2,636 *2,128 1,377 *752 1,527 | 897 630 1928—June 30. 7,826 5,118 2,709 2,141 1,384 756 1,549 ! 909 640 Dec. 31. 7,904 5,163 2,741 2,163 1,406 757 1,555 ! 933 622 Kansas City district Dallas district San Francisco district 1923—June 30. 1,880 1,145 735 953 745 208 3,296 2,331 965 Dec. 31. 1,825 1,096 729 1,016 810 206 3,342 2,248 1,094 1924—June 30. 1,737 1,038 699 962 732 230 3,389 2,296 1,093 Dec. 31. 1.781 1,079 702 1,016 789 I 227 3,546 2,444 1,102 1925—June 30. 1,823 1,115 708 1,015 791 ! 224 3,693 2,545 1,148 Dec. 31. 1,847 1,131 716 1,069 831 | 238 3.872 2,669 1,203 1926—June 30. 1,848 1,157 691 1,044 808 ! 236 3,937 2,688 1,249 Dec. 31. 1,828 1,136 692 1,029 807 ! 222 4,068 2,842 1,226 1927—June 30. 1,832 1,154 678 1,064 831 j 233 4,077 2,961 1,116 Dec. 31. 1,868 1 1,191 677 1,136 898 ! 238 4,227 3,084 1.143 1928—June 30. 1,893 1,224 669 1,163 916 248 4,300 3,149 1,151 Dec. 31. 1,929 1,250 679 1,247 993 254 4,523 3,169 1,354 * Revised. 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with ind 2 o D r a se te m s e o n f t . r eports of m t ember banks; figures for nonmember banks are from reports of nearest available date. NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust companies,, mutual and stock savings banks, and private banks under State supervision. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL BANKS IN EACH DISTRICT 169 No. 86.—ALL BANKS—TOTAL LOANS l OF MEMBER AND NONMEMBER BANKS, 1923-1928 [In millions of dollars] Non- All Mem- mem- Date » banks ba b n er ks ba b n e k r s Boston district 1923—June 30. 3,064 1,444 1,620 7,777 5,017 2,760 1,806 1,174 Dec. 31. 3,115 1,440 1,675 7,881 5,066 2,815 1,879 1, 190 1924—June 30. 3,220 1,443 1,777 8,492 5,404 3,088 1,939 1,240 Dec. 31. 3,333 1,504 1,829 8,938 5,720 3,218 2, 037 ! 1,283 754 i925—June 30. 3,530 1,602 1,928 9,357 5,848 3,509 2,158 1,381 777 Dec. 31. 3,682 1,692 1,990 10, 036 6, 511 3,525 2, 364 ;1,485 879 1926—June 30. 3,779 1,690 2,089 10,310 6,399 3,911 2,434 1,574 860 Dec. 31. 3,817 1,708 2,109 10, 793 6,861 3,932 2,547 1,616 931 1927—June 30. 3,930 1, 744 2,186 11, 388 7,026 4,362 2,504 1,604 900 Dec. 31. 4,021 1, 765 2,256 12,166 7,789 4,377 2,592 1,616 976 1928—June 30. 4,226 1,849 2,377 12, 605 7,759 4,846 2,636 1,690 946 Dec. 31. 4,271 1,824 2,446 13, 435 8,404 5,031 2,747 1,745 1,002 Cleveland district Richmond district Atlanta district 1923—June 30 2,594 1,838 756 1,675 923 752 1,165 737 428 Dec. 31 2,621 1,842 779 1,713 948 ! 765 1,240 794 446 1924—June 30 2,680 1,877 803 1,740 952 ! 788 1,221 764 457 Dec. 31. 2,722 1,896 826 1,745 957 i 788 1,281 813 468 1925—June 30 2,874 2,011 863 1,803 990 I 813 1,412 877 535 Dec. 31 2,959 2,060 899 1,863 1, 030 i 833 1,647 995 652 1926—June 30 3,037 2,135 902 1,865 1,016 ! 849 1,518 939 579 Dec. 31 3,067 2,144 923 1,865 1,011 i 854 1,458 927 531 1927—June 30 *3, 098 2,179 *919 1,841 1,014 827 1,373 885 488 Dec. 31 3,100 2,162 *939 1,871 1,028 843 1,369 888 481 1928—June 30 3,237 2,266 972 1,881 1021 861 1,378 910 468 Dec. 31 3,279 2,291 988 1,879 1,022 857 1,346 895 451 Chicago district St. Louis district Minneapolis district 1923—June 30 4,764 2,880 1,885 1,428 819 1,333 691 642 Dec. 31 4,798 2,870 1,928 1,463 853 610 1,265 656 609 1924—June 30 4,876 2,951 1,925 1,455 843 612 1,150 611 539 Dec. 31 4,935 3,031 1,904 1,475 884 591 1,139 630 508 1925—June 30. _ 6,173 3,181 1,992 1,494 877 617 1,106 597 509 Dec. 31 5,319 3,276 2,043 1,563 950 613 1,078 586 492 1926—June 30 5,452 3,374 2,077 1,575 952 623 1,039 568 471 Dec. 31 5,497 3,388 2,109 1,541 946 595 995 554 441 1927—June 30. 5,575 3,461 2,114 *1, 537 930 *607 956 531 425 Dec. 31 5,583 3,519 2,064 i *1, 546 953 *592 955 547 408 1928—June 30 5,810 3,698 2,113 1,535 942 593 947 544 403 Dec. 31 5,933 3,812 2,121 1,546 954 592 951 560 391 Kansas City district Dallas district San Francisco district 1923—June 30. 1,547 661 792 601 191 2,431 1,740 691 Dec. 31. 1,496 849 647 830 649 181 2,478 1,686 792 1924—June 30. 1,423 800 623 801 597 204 2,527 1,722 805 Dec. 31. 1,421 801 620 846 645 201 2,567 1,767 800 1925—June 30. 1,429 S05 624 837 638 199 2,692 1,848 844 Dec. 31. 1,432 805 627 875 668 207 2,821 1,937 884 1926—June 30. 1,418 812 606 855 650 205 2,877 1,952 925 Dec. 31. 1,374 777 597 841 | 652 189 2,962 2,067 895 1927—June 30. 1,355 776 579 853 ' 654 199 2,949 2,134 815 Dec. 31. 1,353 783 570 891 1 694 197 2,959 2,141 818 1928—June 30. 1,336 789 547 895 692 203 2,977 2,144 833 Dec. 31. 1,332 803 530 938 736 201 3,107 2,190 •Revised. 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. 2 Dates of reports of member banks; figures for nonmember banks are from reports of nearest available date. NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust companies, mutual and stock savings banks, and private banks under State supervision. Digitized for FRASER 41223—29 12 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
170 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 87.—ALL BANKS—TOTAL INVESTMENTS OF MEMBER AND NONMEMBER BANKS, 1923-1928 [In millions of dollars] Date1 1923—June 30 1,884 588 1,296 4,458 2,480 1,978 1,389 789 600 Dec 31 1,874 577 1,297 4,399 2,428 1,971 1,345 779 566 1924—June 30 1,920 610 I 1,310 4,695 2,667 2,028 1,395 791 604 Dec 31 1,952 630 1,322 5,084 2,946 2,138 1,469 880 589 1925—June 30 1,993 632 1,361 5,041 2,898 2,143 1,494 868 626 Dec 31 2,023 670 1, 353 4,888 2,785 2,103 1,447 852 595 1926—June 30 . 2,112 719 1,393 5,055 2,910 2,145 1,485 845 640 Dec 31 2,123 720 1,403 4,935 2,806 2,129 1,487 862 625 1927—June 30 2,269 792 1,477 5, 305 3,100 2,205 1,611 927 684 Dec 31 2.345 817 1,528 5, 336 3,158 2,178 1,650 972 678 1928—June 30 2,418 793 1,626 5,598 3,340 2,258 1,729 966 763 Dec. 31 2,378 747 1,632 5,341 3,189 2,152 1,649 921 728 Cleveland district Richmond district Atlanta district | 1923—June 30 1,304 407 525 I 259 266 244 182 62 Dec 31 1,290 884 406 512 257 255 251 185 66 1924—June 30 1,370 950 420 496 240 256 233 170 63 Dec. 31 .. . . 1,436 1,019 417 528 i 263 265 250 182 68 1925—June 30 1,436 1,010 426 530 | 262 268 284 204 80 Dec. 31 1,399 985 414 529 i 260 269 347 247 100 1926—June 30 ._ 1,449 1,025 424 536 ! 265 271 331 233 Dec. 31 - 1,414 989 425 530 ! 264 266 329 231 1927—June 30 *1, 538 1,089 *449 582 ! 297 285 353 256 97 Dec. 31 *1, 588 1,135 *454 646 1 334 *312 384 276 108 1928—June 30 1,660 1,182 479 650 ; 324 326 375 263 112 Dec. 31 1,575 1,123 452 643 ! 317 326 402 293 109 Ch]cago district St. Louis district Minneapolis district 1923—June 30 1,409 1,026 455 336 119 i 333 206 i 127 Dec. 31 — i 1,391 1,028 444 329 115 340 208 132 1924—June 30.. 1,448 1,059 423 314 109 337 213 124 Dec. 31.. 1,627 1,179 462 339 123 i 424 276 148 1925—June 30.. 1,661 1,189 489 350 139 465 291 I 174 Dec. 31.. 1,679 1,202 503 359 144 489 307 182 1926—June 30.. 1,735 1,205 511 368 143 509 313 197 Dec. 31- 1,676 1,154 517 366 151 499 308 192 1927—June 30.. 1,832 1,251 558 406 *152 528 320 209 Dec. 31.. 1,911 1,339 583 423 *159 571 350 222 1928—June 30.. 2,016 1,420 605 442 163 601 365 237 Dec. 31.. 1, 971 1, 350 617 452 166 605 373 232 Kansas City district Dallas district | San Francisco district 1923—June 30. 333 i 259 74 161 ! 144 17 866 592 274 Dec. 31. 329 247 82 I 186 1 161 25 864 562 302 1924—June 30. 314 ! 238 76 I 161 ! 135 26 863 575 288 Dec. 31. 361 I 278 83 170 j 144 26 979 677 302 1925—June 30. 394 i 310 84 178 1 153 25 1,001 697 304 Dec. 31. 416 327 89 | 194 ! 163 31 1,051 732 319 1926—June 30. 430 ! 345 85 i 189 i 158 31 1,060 736 324 Dec. 31. 454 : 359 95 ; 189 1 156 33 1,107 776 331 1927—June 30. 476 j 377 99 ! 211 ! 177 34 1,128 827 301 Dec. 31. 515 j 408 107 | 245 204 41 1,267 943 325 1928—June 30. 557 ! 436 122 268 224 44 1,323 | 1,005 318 Dec. 31. 596 ! 447 149 I 310 257 53 1,416 1,060 356 * Revised. 1 Dates of reports of member banks; figures for nonmember banks are from reports of nearest available date. NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust companies, mutual and stock savings banks, and private banks under State supervision. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
171 ALL BANKS IN EACH DISTRICT IVo. 88.—ALL BANKS—DEPOSITS (EXCLUSIVE OF INTERBANK DEPOSITS) OF MEMBER AND NONMEMBER BANKS, 1923-1928 [In millions of dollars] ba A n l k l s b M a b e n e m k r s - m b N e a m o n n k b - s er ba A n l k l s b M a b e n e m k r s - j m b N e a o m n n k b > s er ba A n l k l s b M a b e n e m k r s - I m b N e a m o n n k b - s er Date i Boston district New York district Philadelphia district 1923—June 30 4,581 1,830 2,751 11,415 •6,800 4,615 2,776 1,657 1,119 Dec. 31 .-. *4,688 1 * 1,880 2,808 11,986 *7,433 4,553 2,898 1,727 1,171 1924—June 30. _. *4. 868 j *1,939 2,929 12,997 *7,952 5,045 2,971 1,757 1,214 Dec. 31. .._ *5, 033 •2,051 2,982 13,564 •8,817 4,747 3,166 1,894 1,272 1925—June 30..- *5,220 •2,114 3,106 14,362 *8,866 5,496 *3,279 •1,960 1,319 Dec. 31 f 55,,440022 2, 245 3,157 14,414 *9,469 4,945 •3,451 •2, 077 1,374 1926-June 30... •5,580 •2,297 3,283 15,000 *9, 206 5,794 3,479 2,094 1,385 Dec. 31 *5, 594 1 *2,286 3,308 15,168 *9, 701 5,467 3,602 2,166 1,436 1927—June 30...- *5,811 *2,359 3,452 16,264 •10, 002 6,262 *3,646 *2,187 1,459 Dec. 31. •6,009 ! *2,444 3,565 16, 312 •10, 021 6,291 3,787 2,243 1,543 1928—June 30 6,106 i 2,351 3,7.55 16, 614 9, 982 6,632 3,764 2,232 1,532 Dec. 31 6,225 ! 2,397 3,828 18, 915 12,140 6,776 3,874 2,287 1,587 i Cleveland district Richmond district Atlanta district 1923—June 30 3,596 2,447 1,149 1,927 988 939 •1,305 •818 487 Dec. 31 I 3,662 2,494 1,168 2,041 1,044 997 •880 531 1924—June 30-__ — i *3,809 *2,605 1,204 1,982 1,018 964 •l', 365 •852 513 Dec.31 | 3,855 2,637 1,218 2,103 1,092 1,011 1,553 953 600 1925—June 30 j *4,043 *2, 782 1,261 2,083 1,090 993 1,704 1,027 677 Dec.31 j *4,079 *2,805 1,274 2,217 1,157 1,060 2,107 1,220 887 1926—June 30... | *4,227 *2,930 1,297 2,170 1,138 1,032 1,805 1,108 697 Dec. 31 ! *4,146 *2,883 1,263 2,222 1,164 1,058 1,741 1,092 649 1927—June 30. — _| *4,332 *3, 035 •1,297 2,244 1,193 1,051 1,674 1,066 608 Dec.31 | *4,355 *3, 029 *1,326 2,378 1,242 1,136 1,736 1,104 632 1928—June 30 —! 4,498 3,139 1,359 2,284 1,188 1,096 1,640 1,072 568 Dec.31 ! 4,526 3,165 1,361 2,351 1,214 1,137 1,673 1,093 580 Chicago district St. Louis district Minneapolis district 1923—June 30 _.J *5,870 *3, 570 2,300 1,727 747 1,570 ! 816 754 Dec.31 j *5,953 *3,620 2,333 1,737 1, 016 721 1,538 I 807 731 1924—June 30._ _ _..| *S,121 *3, 765 2,357 1,720 1,014 ! 706 1,481 805 676 Dec.31 _ ! *6,448 *4,006 2,442 1,873 1,121 ! 752 1,596 876 720 1925—June 30 ! *6,740 *4,188 2,552 1,904 1,097 I 807 1,602 871 731 Dec.31 | *6.858 *4, 288 2,570 2,031 1,182 ' 849 1,622 880 742 1926—June 30 j *7,009 *4, 344 2,665 1,985 1,171 ' 814 1,576 861 715 Dec.31 i *6,972 *4,318 2,654 1,965 1.186 ! 779 1,526 847 679 1927—June 30 i *7,171 *4,465 2,705 •1,976 1.187 ! *789 1,507 . 842 665 Dec.31 *7,327 *4,649 2,679 •2,053 1, 250 ! *803 1, 560 886 674 1928—June30 ! 7,5.17 11 4,806 2,712 2,002 1,215 i 787 1,567 895 673 Dec.31 I 7, 667 |! 4,914 2,752 2, 045 1,256 I 788 1,596 929 666 I li i Kansas City district Dallas district San Francisco district 1923—June 30 1,814 1, 046 768 851 645 206 •3, 253 •2, 272 981 Dec. 31 1,765 1,021 744 1,059 779 280 3,424 2,292 1,132 1924—June 30.._ 1,732 3,013 719 917 1 076 241 *3,441 •2,315 1,126 Dec.31 _ 1,901 1,082 819 1,075 ! 795 280 *3,667 *2,511 1,156 1925—June 30._ _ 1,922 1,113 809 1,006 764 242 •3,747 •2,568 1,179 Dec.31 .__- 1,950 1,140 810 1,099 1 822 277 •3,994 •2, 744 1,250 1926—June 1,920 1,154 766 1,008 I 761 247 •3,973 •2,716 1,257 Dec.31 i 1,924 1,148 776 1,053 ! 800 253 •4,116 •2,883 1.233 1927—June 30. 1,916 1,158 758 1,049 ! 800 249 *4,073 •2,974 1,099 Dec. 31.. 1,957 1,185 773 1,182 i 897 285 •4,253 •3,114 1,139 1928—June 30.. 1,962 1,208 755 1,146 885 261 4,297 3,160 1,137 Dec. 31.. 2,028 1,241 787 1,290 989 301 4,576 3,200 1,376 •Revised for member banks to include letters of credit and travelers' checks sold for cash and outstanding, and for nonmember banks on account of receipt for certain States of data more nearly current. 1 Dates of reports of member banks; figures for nonmember banks are from reports of nearest available date. NOTE.—Table covers following classes of banks: National banks, State commercial banks and trust companies, mutual and stock savings banks, and private banks under State supervision. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
172 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF ALL BANKS, BY STATES So. 89.—ALL BANKS—TOTAL LOANS AND INVESTMENTS/ BY STATES, 1924-1928 [In millions of dollars] 1924 1925 1927 1928 State June 30 Dec. 31 Jun 30 Dec. 31 June 30 Dec. 31 United States 45,179. 8 47,182. 3J48, 830. 2 50, 603. 3|51, 561. 9;52, 018. 2|53, 750. 9 55, 450. 557, 265. 3 58, 266.4 New England: Maine 352.4 356. 0| 363.8 371. 8 389. 2 394. 6! 410. 0 411. 5 428. 427.3 New Hampshire. 245.3 246.8 255.7 258.5 269.9 270.41 282.5 283.6 301. 302.8 Vermont 205.3 208.4 217.4 219.8 227.2 227.9! 235.5 239.3 251. 254.0 Massachusetts.. 3,174.7 3,275.1 3, 443. 3 3,569.3 3,683.91 3, 699. 71 3,862.9 3, 959. 9 4,137. 4,125.1 Rhode Island 426. 2 440. 2! 456.2 "*" rl 479. l| 495.0 513.5 525.1 537. 537. 2 Connecticut j 938.1! 970. 0 1,009. 1, 052. 9|| 1,088.7 1,101.0!! 1,159.1 1, 224. 6 1,282. 1,302. 5 Middle Atlantic: New York 11,633. 8 12, 378. 5 12, 647.8 13, 086. l|l3, 437. 5 13, 711. 6:14, 581.115, 290.4 15,: 16,438.0 New Jersey 1,652.61 1,756.7 1,867.0 1,979.8! 2.073.1! 2,175.5! 2,255.4 2, 351. 5 2, 451. 2,463. 2 Pennsylvania... 4, 551.1 4, 764. 9 4, 916. 8 5,052.5 5,181.4s 5,284.1 5,406.5 5, 557. 2 5, 742. 5, 742.0 East North Central: Ohio 2,190. 2 2,225.5| 2,349.2 2, 379.1 2, 466. 0, 2,451.9 2,552.1 2, 562.6 2, 684. 2,662.8 Indiana 770.8 780. 2| 803. 4 832.1 869. 3 868. 7 880.9 875.9 890. 897.3 Illinois 3, 079. 4 3,261.4! 3,348.6 3, 444.1 3,, 515. ljj 3,, 516.9 3,,657.2 3, 710. 4 3, 885. 3, 918. 3 Michigan _ 1, 386.1 1,452.1 1,599.7 1, 659. 3 1,736.2; 1, 761. 0j 1,8835.2 1, 860. 9 1, 986. 2,019. 5 Wisconsin 773.0 777. 6 813. 9 834.9 874. 7 876. 31 904. 905.9 938. 943.1 West North Central: Minnesota 875.3 943.9 934.2 940.1 923.1 902.61 896.1 922.4 926. 915.3 Iowa _ 911.0 889. 81 886.6 856.61 836.4 791.1| 783.3 786.8 788. 791.4 Missouri 1,131. 3 1, 214. 3 1, 217. 7 1,272.3 1, 254. 3 1,237.7! 1,242.3 1, 269. 8 1,267. 1, 276.0 North Dakota... 149.9 147.9 152.9 154.6 148. Oj 135.0! 129.1 128.0 125. 124.7 South Dakota 163. 164.7 163.5 146.9 144.5 123. Oj 120.3 126.8 132. 136.7 Nebraska 398.6 414.5 424.3 430.8 419.1 412.7 404.6 411.0 408.1 Kansas.- _ 378.5 389.4 401.5 409.1 408.4 404.5 400.7 400.6 407.1 417.4 South Atlantic: Delaware 104.4 109.0 112.2 114.8 119. 0: 123. 8| 131.6 136.3 144. 149.5 Maryland 650.2 680.2 719.9 745.5 749.9 769. 8| 788.5 837.6 820. 834.5 District of Columbia 195.4 209. 218.8 230.8 232.2 232.8| 241.5 236.5 254. 253.1 Virginia 506.6 507.5 515. 31 536.9 532. 5) 531. 3 536.5 560.0 562. 563.6 West Virginia 367.8 367.0 360. 71 366.3 366. 2| 364. 01 365.4 364.5 363. 360.7 North Carolina. 368.5 368.0 380. 0l 383.9 397. 4 392. 9 387.8 408.0 416. 408.2 South Carolina._ 224. 218. 215. 41 205.7 201.1 181. 6| 180.8 190.2 195. 184.5 Georgia 353.3 350.2 360.6! 367.8 374.2 346. 21 352.2 360.6 371. 355.7 Florida 252.3 296.3 435. 51 652.1 501.7 460. 6| 401.9 376.6 357. 334.9 East South Central: Kentucky.. 430.2 433. 2| 444. 2; 453.4 461.2 465. 21 *504. 4 •514.0 533. 546.6 Tennessee.. 370.5 364. 21 372.1! 390.6 391.3 393.7 383.3 400.5 407. 413.0 Alabama 233.5 242. 5| 248. 8| 261.9 269.2 267.3 272. 289.7 301. 312.1 Mississippi. 182.0 180.2 194. 4; 207.3 217.0 206. Oi 212.6 225.1 223. 220.2 West South Central: Arkansas 192.5 189.7 201. 3i 207.9 213.8 198.8 199.4 204. 202.4 Louisiana 348.8 375.3 371. 8| 422.3 405. 417.4 397.4 413.1 402. 429.4 Oklahoma 310.0 308. 5 335. 3! 348. 7 367.7 356.1 370.7 379.6 395. 404.8 Texas 833.5 894. 8j 891. 3! 935. 5i 920.1 904.6! 942.8 1, 008. 01,032. 1,105.8 Mountain: I I Montana _. 105.6 113.2 118. 2; 122.4 123.9 129. 3! 130.2 140.9 147. 158.9 Idaho __ 70.0 69. 69.7 73.6 73.3 76.7| 73.2 78.3 79. 82.2 Wyoming 61.8 48.3 49.2! 51.4 50.3 52.4! 51. 54.6 55. 59.7 Colorado 260.2 272.6 271. 2| 258.7 256.6 262. 4| 256.1 264.2 266. 272.6 New Mexico 30.9 27.9 27.2 26.8 29.0 31. Oj 31. 35.4 37. 41.0 Arizona 58.7 58.3 59.6! 56.7 57.6 58.3 61.9 66.4 75. 81.3 Utah 122.3 128.4 129. 2| 137.5 135.5 143. 4 140.8 152. 2 152. 160.2 Nevada 30.4 30.6 32. 2i 34.0 34.8 35.2 35.7 35.9 37. 38.9 Pacific: Washington 357.1 360.7 379.5 388.6 398.4 401.1 406.6 423.1 439.1 448.6 Oregon ._ 237.5 238. 21 243.4 249. 5| 253.1 254.0 253.0 260.7 262.: 263.1 California 2, 533. 2,681.2 2, 799. 5| 2,953.2 3,004.2 3,121. 3 3,128. 2 3, 234.93, 281.: 3, 478. 2 *Revised. i Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. Back figures.—See Annual Report for 1927 (Table 81). NOTE.—For classes of banks included see note to Tables 85-88. Figures for member banks are for dates specified; for nonmember banks, for nearest date for which reports are available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
173 ALL BANKS, BY STATES No. 90.—ALL BANKS—TOTAL LOANS,1 BY STATES, 1924-1928 [In millions of dollars] 1924 1925 1926 1927 1928 State June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 United States 31,523.1 32,440. 5 33,865.4 35, 640.0 36,157.4 36,758.8 *37,360.0 *38,407.1 39,464.1 40,762.7 New England: Maine.. 167.4 168.7 176.1 179.8 183.8 187.6 196.2 194.5 209.8 214.0 New Hampshire 120.9 121.1 126.4 127.9 131.1 131.5 140.0 140.0 147.7 149.3 Vermont 144. 3 143.3 149.0 148.4 152.4 151.4 155.0 151. 156.1 158.8 Massachusetts _ _2,168.0 2, 254. 22,399. 2 2, 501. 7 2, 560. 62, 581. 2 2, 637. 3 2, 691.0 2,831.8 2,844. 7 Rhode Island... 216.7 221.9 233.0 246.7 258.8 265.8 274.3 276.5 285.1 290.0 Connecticut 502.0 526.1 557.9 595. 5 615.. 5 620.1 658.1 702.5 738.6 764.4 Middle Atlantic: New York 7, 620. 68, 022. 28,345.3 8,942.6 9,146.1 9, 549. 2 10,081.010,\, 787. 711,148. 6 11.., 931.6 New Jersey 970.1 1,018. ' 1,130.7 1,232.9 1,315.6 1,412.81 1,464.8 1, 535.8 1, 607.4 1,650.1 Pennsylvania 2, 549. 7 2, 661.3 2,785.3 2,994.2 3, 068. 9 3,193.81 3,136.4 3. 206. 7 3,309.6 3,433.1 East North Central: Ohio.. 1, 619. 71, 638. 51, 754.1 1,804. 1,857. 6 1,857.5 1,895.8 1, 1, 1,985.6 Indiana 594.0 594.5 618.0 641.0 676.1 676. 2! 673. ~ 658.7 662.5 664.5 Illinois 2, 281.0 2,356.8 2,479. 6 2, 560.1 2, 606.8 2.651.4J 2,694.2 2, 714.3 2,831. 2,902.8 Michigan 1,001.0 1,023.1 1,115.3 1,177.3 1, 248.0 1, 279.7| 1,328.4 1,330.7 1,424.3 1,455. 7 Wisconsin _. 591.8 573. 7 602.5 606.1 625.8 625. 21 633. 4 618.3 642.8 657.3 West North Central: Minnesota 646.7 665.7 630.5 622.4 589.9 580.3 546. 549.9 539.0! 538.3 Iowa... _ 832.6 800.2 784.3 761.8 733.9 695.5 676.0 678.2 670.4 670.8 Missouri.._ 870.9 924.1 901.3 949.2 921. 4j 906.5 891.1 902.9 885.4 881.4 North Dakota. _ 132.1 117.4 117.8 114.5 113.0 103.0 99.9 93.3 91.1 88.6 South Dakota... 148.8 143.2 137.01 123.1 114.7 94.3 91.0 93.3 94.3 95.8 Nebraska 358.8 366.7 367.6 371.7 360.5 351.0 338.7 335.3 308.3 312.9 Kansas 325.0 321.2 325.9 328.8 331. 6| 318.4 311.5 303.0 298.4 298.3 South Atlantic- Delaware 59.6 58.2 63.8 67.6 69.5 73.2 78.4 83.2 92.6i 98.2 Maryland 394. 7 429.3 462.3 465.3 488.6 476.4 493.0 484.4| 502.6 District of Columbia 140.1 148.2 157.7 171.3 174.4 181.8 176.7 190.41 190.8 Virginia 435.9 435.8 446.1 465.6 457. 9 455. 9; 457.2 469.8 467.6 466.8 West Virginia... 303. 310.0 301.5 309.2 305.5 306.5 299.9 299.9 294.9 294.4 North Carolina _ 331. 2 331.0 344.9 348.2 357. 2| 353.0 342.4 348.6 358.9 349.4 South Carolina.. 194.7 185.1 184.4 170.5 169.7! 148.5 144.1 144.4 147. 6\ 138.8 Georgia 319.8 314.2 320.1 324. 5 326. 61 298.8 297.8 295.3 312.8 287.9 Florida 189.7 225.6 335.2 509.8 379.8 343.3 278.4 252.0 235.5 213.0 East South Central: Kentucky. 343.5 346.2 356.1 364.1 371.1 371.8 *392. 2 *395. 5 404.4 416. 5 Tennessee 322.5 319.5 327.5 344.1 344.2 345.6 334.2 344.7 343.8 348.3 Alabama 192.0 196.9 206.0 213.4 223. 5 219.2 221.7 231.7 243.7 251.2 Mississippi 147.8 143. 154.6 163.4 173.3 160.9 163.1 172.3 1177O2 .O2 166.8 West South Central: Arkansas 170.5 164.9 175.4 182.2 186.9 173.8 170.5 166.7 167.6 160.2 Louisiana 301.8 325.1 321.6 360.6 341.4 354.0 331.4 336.1 330.6 340.1 Oklahoma 243.3 230.1 247.4 244.9 255.7 236.5 245.4 246.0 255.1 255.4 Texas 691.6 746.0 734.2 766.5 754.1 740.5 756.2 793.4 793.6 831.4 Mountain: Montana 78.5 75.4 78.8 78.3 80.6 81.3 88.1 94.5 100.1 Idaho 53.7 50. 50.4 50.6 49.4 49.8 47.8 48.6 48.0 49.5 Wyoming 52.9 38.4 38.2 38.7 37.4 38.1 37.4 38.4 39.0 40.3 Colorado 178.8 181.8 178.3 169.4 162.9 166.1 159.4 164.3 165.8 173.6 New Mexico 26.1 22.6 21A 19.5 20.4 20.7 20.3 22.8 23.8 26.2 Arizona 46.8 46.1 45.6 43.2 42.9 40.2 42.5 44.2 51.2 51.8 Utah 95.4 98.0 100.5 108.9 106.5 114.3 111.5 122.5 119.4 123.5 Nevada 23.8 23.7 25.2 26.9 27.1 27.5 27.9 27.8 28.7 29.8 Pacific: Washington 247.1 235.7 251.2 257.6 264.5 260.0 261.1 262.5 275.8 278.5 Oregon 165.9 158.6 162.0 163.9 168.0 162.4 160.9 149.6 147.6 145.7 California 1, 909. 6 2,071. 0 2,185. 6 2,232. 5 2,321. 72,312. 7 2,318. 6 2, 322.6 2,444.1 *Revised. 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. Back figures—Sea Annual Report for 1927 (Table 82). NOTE.—For classes of banks included see note to Tables 85-88. Figures for member banks are for dates specified; for nonmember banks, for nearest date for which reports are available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
174 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 91.—ALL BANKS—INVESTMENTS, BY STATES, 1924-1928 [In millions of dollars] 1924 1925 1926 1927 1928 State June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 United States 13,656.614,741.814,964. 814,963.315,404. 515,259.5*16,390.7•l7,043.4|17,801.217, 503. 7 New England: Maine 185.0 187.3 187.7! 192.0 205.4 207.0 213 8 217 0 218.3 213.3 New Hampshire 124.4 125.7 129.3 130.6 138.8 138.9 142.5 143. 6 153.2 153.5 Vermont 61.0 65.1 68.4 71.4 74.8 76.5 80 5 87.7 95.0 95.2 Massachusetts.. 1,006.7 1,020. 9 1,044.1 1,067.6 1,123.3 1,118.5 1,225. 6 1,268.9 1, 305. 91, 280.4 Rhode Island-.. 209.5 218.3 223.2 221.8 220. 3 229.2 239.2 248.6 252.3 247.2 Connecticut 436.1 443.9 452.0 457.4 473.2 480.9 501.0 522.1 543. 5 538. 2 Middle Atlantic: New York 4,013. 2 4,356. 3 4, 302. 54,143. 5 4,291. 4 4,162. 4 4,500.1 4, 502. 74, 732.1 4, 506.4 New Jersey 682.5 737.8 736.3 746.9 757.5 762.7 790.6 815.7 844. 5 813.1 Pennsylvania-.. 2,001. 4 2,103. 6 2,131.5 2,058. 3 2,112.5 2,090.3 2, 270.1 2,350. 5 2,433.0 2, 308. 9 East North Central: Ohio 570.5 587.0 595.1 574.2 608.4 594.4 656.3 656.4 715. 7 677. 2 Indiana 176.8 185.7 185.4 191.1 193.2 192.5 207.1 217.2 227.7 232.8 Illinois 798.4 904.6 869.0 884.0 908.3 865.5 963.0 996.1 1, 053. 71, 015. 5 Michigan 385.1 429.0 484.4 481.9 488.2 481.3 506.9 530.2 561.9 563.8 Wisconsin 181.2 203.9 211.4 228.8 248.9 251.1 271.5 287.6 295.8 285.9 West North Central: Minnesota.- 228.6 278.2 303.7 317.7 333.2 322.3 349.5 372.5 387.7 377.0 Iowa.. 78.4 89.6 102.3 94.8 102.5 95.6 107.3 108.6 117.6 120.6 Missouri- 260.4 290.2 316 4 323.1 332.9 331.2 351. 2 366.9 381.5 394.6 North Dakota..- 17.8 30.5 35.1 40.1 35.0 32.0 29.2 34.7 34.2 36.1 South Dakota- 15.0 21.5 26.5 23.8 29.8 28.7 29.3 33.5 37.7 40.9 Nebraska . 39.8 47.8 56.7 59.1 58.6 61.7 65.9 75.7 91.3 95.1 Kansas - 53 5 68 2 75 6 80.3 76.8 86.1 89.2 97.6 108.7 119.1 South Atlantic: Delaware 44.8 50.8 48.4 47.2 49.5 50.6 53.2 53.1 51.4 51.2 Maryland— 255.5 282.9 290.6 283.2 284.6 281.2 312.1 344.6 336.1 331.9 District of Columbia 55.3 61.5 61.1 61.0 60.9 58.4 59.7 59.8 64.1 62.3 Virginia 70.7 71.7 69.2 71.3 74.6 75.4 79.3 90.2 95.2 96.8 West Virginia- 64.2 57.0 59.2 57.1 60.7 57.5 65.5 64.6 68.9 66.3 North Carolina. 37.3 37.0 35.1 35.7 40.2 39.9 45.4 59.4 57.3 58.8 South Carolina- 30.2 33.6 31.0 35.2 31.4 33.1 36.7 45.8 48.4 45.7 Georgia 33.5 36.0 40.5 43.3 47.6 47.4 54.4 65.3 58.8 67.8 Florida 62.6 70.7 100.3 142.3 121.9 117.3 123.5 124.6 122.5 121.9 East South Central: Kentucky 86.7 87.0 88.1 89. 3 90.1 93.4 *112.2 *118.4 129.3 130.1 Tennessee 48.0 44.7 44. 6 46. 5 47.1 48.1 49.1 56.0 63.9 64.7 Alabama- 41.5 45.6 42. 8 48. 5 45.7 48.1 50.3 57.9 58.0 60.9 Mississippi 34.2 36.6 39. 8| 43. 9 43.7 45.1 49. 5 52.8 51.5 53.4 West South Central: Arkansas 22 0 24.8 25 9 25. 7 26.9 24.8 28.3 32.7 37.1 42.2 Louisiana . 47.0 50.2 50.2 61.7 64.2 63.4 66.0 77.0 71.4 89.3 Oklahoma 66.7 78.4 87. 9! 103. 8 112.0 119.6 125.3 133.6 140.1 149.4 Texas. _- - 141.9 148.8 157. li 169.0 166.0 164.1 186.6 214.6 238. 5 274.4 Mountain: Montana 27.1 37.8 39. 4! 44.1 43.3 48.0 46.4 52.8 53.1 58.8 Idaho- 16.3 19.0 19. 3l 23. 0 23.9 26.9 25.4 29.7 31.0 32.7 Wyoming 8.9 9.9 11.0i 12.7 12.9 14.3 14.4 162 16.3 19.4 Colorado 81.4 90.8 92. 9 89. 3 93.7 96.3 96.7 99.9 100.2 99.0 New Mexico 4.8 5.3 5. 8! 7. 3 8.6 10.3 11.5 12.6 13.7 14.9 Arizona 11.9 12.2 14.0! 13.5 14.7 18.1 19.4 22.2 24.2 29.5 Utah - - .- 26.9 30.4 28. 71 28. 6 29.0 29.1 29.3 29.7 32.9 36.6 Nevada 6.6 6.9 7. 0! 7. 1 7. 7 7.7 7.8 8.1 9.0 9.1 Pacific: Washington 110.0 125.0 128.3 131.0 133.9 141.1 145.5 160. 6 164. 0 170.1 Oregon 71.6 79.6! 81.4 85.6 85.1 91.6 92.1 111.1 114. 6 117.1 California 623.9 712.3 728. 5 767. 7 771.7 799.6 815. 5 916.3 958.5 1,034.1 •Revised. Back figures.—See Annual Report for 1927 (Table 83). NOTE.—For classes of banks included see note to Tables 85-88. Figures for member banks are for dates specified; for nonmember bank?, for nearest date for which reports are available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT No. 92,—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928 BOSTON DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Call date Total Loans l Total Investments C s p u v u r a a o r i n p p d n f d i i l e d t t u i d s a - s l 3 , , de T p o (* o t ) s a i l ts D p e o d m ( s * e i - t ) a s nd p T o d s i e m i - ts e 5 U S p n o t d a e i s - t t i e e ts s d b D a u n e k s t o 6 d de e N p m ( o * e a ) s t n it d s d de e t p N p m i ( l m * o u e a ) s t s e n it d s R e b s w r e F a e a s e n i r l e t d v k r h r - e e v s - e 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 N b b a e u n r m k o s - f 1 1921—Dec. 31 1,728,951 1,292, 866 436, 085 159,646 328, 859 1, 667,1611,093, 535 408, 778 25,445 139,403 1,120, 719 1, 529,497110, 440 63, 273 436 1922—Mar. 10 1,753,634 1,297,605 456,029 172, 566 336, 880 1,679,355 1,078, 201 429, 645 29,199 142,31011,118, 827 1, 548,472110, 244 37,155 436 June 30 _ _ 1,840,370 11,290, 819 549, 551 222, 231 336, 676 1,821, 910 1,185, 526 480, 337 14, 363 141,684 1,197, 925 1, 678, 262118, 829 33, 601 433 Dec. 29 1,940, 910 11,360, 707 580, 203 252, 241 341,189; 1,923, 693 1,234, 774 510, 961 25,124 152,834!1,255, 210 1, 766,171 129, 027 59, 859 429 1923—Apr. 3 1,969, 736 jl,395,154 574, 582 247, 503 341, 830; 1, 929, 943 11,98, 935 551,: 26, 303 153,37711,223, 726 1, 775, 054123,011 63, 903 427 W June 30 2,031, 548 il,443, 972 587, 576 257,459! 343, 218; 1, 962, 709 12,17, 221 574, 781 38,182 132,525:1,234,101 1, 808, 882125, 773! 71, 377 427 Sept. 14 2,046,991 11,466,144 580, 847 253,106 340, 726 1, 976, 910 12,28, 530 593, 934 20, 803 133,643 1,247, 5691 1, 841, 503122, 910 80, 249 42 i Dec. 31 2, 017, 467 il,440, 407 577,060 249,397 335,621' 2,023,190 1,256, 960 599.437 23, 552! 143,24111,262,126j 1, 861, 563124, 243 74, 200| 421 1924— J M un a e r . 3 3 0 1 2 2, , 0 0 0 5 8 2 , , 3 3 4 7 2 3 1 i 1 1 , , 4 44 4 ! 1, 409 6 5 0 6 9 6 , , 7 9 1 3 3 3 2 24 3 9 7, , 5 3 5 3 0 2 3 34 4 1 0 , , 3 7 0 1 4 0 2 1 , , 1 9 0 9 3 0 , , 9 2 0 55 7 1 1 , , 2 1 5 9 6 6 , , 9 2 3 8 0 7 6 6 3 5 3 7 , , 4 5 3 5 8 8 2 2 1 5 , ,1 5 1 5 9 5 1 1 3 6 9 3 , ,7 50 6 7 8 ! 1 1 , ,2 28 1 1 3 , ,1 5 1 0 3 9 1 1 , , 9 8 3 4 8, 6 , 9 6 4 7 7 11 1 2 3 1 0 , , 1 9 6 2 1 0 4 2 0 0 , , 8 8 9 8 6 6 4 4 2 2 1 1 GO Oct. 10 2,159,930: 1,524, 296 635, 634 243, 543 347, 779 2, 220, 595 1,297, 219 702, 701 41, 814 178, 8611,340, 766 2, 043, 467 136, 458 9,842 419 Dec. 31 2,133, 539! 1,503, 933 629, r-- 243,009 338,921 2, 226,423 1,329,125 685, 875 36,150 175, 273 1,349, 294 2,035,169 140,840 39, 777 419 1925—Apr. 6 2,174, 362.|l,547, 736 626,626 239,983 361, 307 2,193,088 1,254, 916 733, 041 35, 902 169, 229 1,294, 818 2,027, 859 132,902 41,082 420 J S u e n p e t. 3 2 0 8 2 2 , , 3 2 0 3 4 3 , , 4 5 4 5 9 l l| 1 l, , 6 6 0 7 1 0 , , 8 07 7 0 8 1 ! 6 6 3 3 4 1 , , 6 3 7 7 3 91 2 2 3 3 2 2 , , 7 5 3 3 6 0 3 35 6 9 3 , , 4 0 5 4 9 6 2 2 , , 3 2 0 7 3 2 , ,1 4 1 3 7 2 1 1 , , 3 36 4 5 2 , , 0 6 6 1 5 4 7 7 6 5 2 8 , , 8 7 5 4 8 2 1 1 2 9 , , 6 9 5 1 6 3 1 1 5 5 8 5 , , 3 30 9 4 7 1 1, ,3 3 5 8 2 2 , , 8 2 2 4 4 2 2 2 , , 1 1 1 4 0 5 , , 6 9 8 8 2 4 1 1 4 4 1 1 , , 0 5 4 4 2 5 4 5 6 5 , , 6 2 4 4 9 9 4 4 2 2 0 0 5 Dec. 31 2, 361, 692, 247| 669, 5321 247,490 357, 928 2, 411, 894 1,434, 657 782, 875 27, 916 166,446 1,427, 788 2, 210, 663! 141,116 71, 910 420 1926—Apr. 12 2, 373,498 668, 643! 704,855 274, 757 368, 659 2, 396, 760 1,362,354 812, 461 53, 727 168, 218 1,386, 713 2,199,174| 143, 796 31, 261 418 June 30 2, 409, 270 690,0631 719, 207 256,848 361, 503 2,459, 050 1,422, 959 844, 070 30, 211 161,81011,407, 219 2, 251, 289) 145, 607 48, 321 416 Dec. 31 2,428,155 708,2811 719, 874 237,182 365, 463 2,447,476 1,404, 878 858,168 22, 566 161, 864! 1,404, 289! 2, 262,4571 147, 7551 83, 467 416 1927—Mar. 23 2, 436, 708 687,125^ 749, 583 255, 739 379,172 2,432,829 1,330,989 890,963 39,132j 171,745 1,361,169J 2, 252,132| 142,872! 37,8211 415 June 30 2, 535, 667 743, 9481 791, 719 254,097 389,942 2, 553,8711,403, 348 932, 343 23, 936 194, 244| 1,419, 891 2, 352, 234 149, 723 60, 484 414 Oct. 10 2, 597, Oil 785,651! 811,360 250, 600 397, 255 2, 614, 755 1,421,146 964, 529 39, 269! 189,8111,455, 932 2,420,461! 148, 087 37, 781 414 Dec. 31 2, 582, 622 765,143; 817,479 267, 616 394, 661 2,651,444 1,448, 088 973, 967 21, 577| 207,8121,480,026 2,453, 993! 155, 948 31, 975 413 1928—Feb. 28 2, 565, 655 742, 626! 823, 029 267, 776 400,829 2,530,462 1,364, 539 975, f" 5, 729 185,107! 1,411,270 2, 386, 357 149, 208 62, 089 413 June 30-.___ 2, 641,830 849, 278; 792, 552 245,492 415, 764 2,526,299 1,344,158 993,097 13, 808 175, 236 '1,383, 589!2, 376, 686 140, 412 92,444 410 Oct. 3 2, 587,156 806,495 780, 661 269,057 424,207 2, 590, 588 1,407, 211 973,494 14,936| 194,947(1,440,131 2, 413, 625 157, 605 51,850 408 Dec. 31 2, 571,115 824, 366! 746, 749 235,373 429, 459 2, 580,809 1,435,056 953.438 183,3291,427, 987 i2, 381, 425 145,171 76,144 408 * "Demand deposits" and "Net demand deposits" revised to include letters of credit and travelers' checks sold for cash. 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. 2 Does not include items with Federal reserve banks in process of collection, or amounts due from foreign banks or own foreign branches. a Includes reserves for dividends, contingencies, etc., but excludes, beginning Sept. 28,1925, reserves for interest, taxes, and other expenses accrued and unpaid. * Includes certified and cashiers' or treasurers' checks and letters of credit and travelers' checks sold for cash. «Includes postal-savings deposits. « includes amounts due to Federal reserve banks, foreign banks, and other banks; also amounts due to own foreign branches. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 92.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928—Continued NEW YORK DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Call date Loans 1 Total Inv s e U e s c . t u m S ri . e - nts s O ec th u e ri r - b f a D r n o u m k e s2 C s p u r v u a o a r i n p p d f n d i i l e d t t u i s d a - s 3 l , , de T p o (* o t ) s a i l ts D p e o d m s (* e i - t a ) s nd I p T o d s i e m i - ts e 6 U S p n o t d a e s i t t - i e e ts s d ! I ! i b D a u n e k t s o V d de e p N m ( o * e s a ) i t n ts d d de e t p p N m i C o m lu e s a ) i s e t n ts d R e b s e w r F a e a s e e n r i l v t r d k v h r e - e s e - p c r a B o e a y u d n a il b n i d l s l s t - e s N b b a e u r n m k o - s f ties ties 8 1921—Dec. 31... 6, 745,9324,829,2961,916,636 811,563 1, 153, 590; 1,101,914 7,175, 938 4, 908,099; 1,047, 905 108,464:1,111,470 5,364,986 6,412,891 724, 373212,069 795 1922—Mar. 10. _ 6, 584, 7374,648,8311,935,906 869, 643 1,066, 263'141,43511,140,107 7,157, 025 4, 794, 918|1,108,473| 112, 268! 1,141,366(5,194, 832( 6, 303, 305 683,409 74, 846 796 June 30... 7,126,8324, 721, 868 2, 404, 964 170,106 1,, 234, 858162, 33611,144,688 8, 265, 879|5, 709,170 1, 343, 726) 45,0181,167,965! 5, 709, 699| 7,053,425 732, 042 70,956 799 Dec. 29... 7, 466, 6084, 932, 801 2, 533, 807 339,19711,194, 651100' !169,438 !l,185,280 8, 591, 886 5, 720,8301,438, 246 218,3921,214,418 5,681,802! 7,120,048 756, 0201167, 268 803 1923—Apr. 3___ 7,454, i 4, 980, 882 2, 473, 201 323, 622 1,149, 5791155, 347)1,189, 347i 8, 023, 814 5, 079, 498 1, 578, 7081163, 621 il,201,987J5, 431, 859 7, 010, 567 717, 5371238, 334 813 June30__. 7, 497, 4515, 017,444 2, 480, 007 314, 49] 1,165, 516|153,136:1,192, 425; 8, 017,195 5,108,106 1, 610, 5601 81, 80611,216, "23j5, 521, 324J 7,131,884! 700, 431.!203, 963 821 Sept. 14.. 7, 293, 2534,902, 895 2, 390, 358 219,196J1,171,162,141, 226!1, 217. 694! 7. 769, 87414, 993, 407!l, 639, 550 31,(58711,105, lov'o, 315, 749j 6, 955, 299! 682,911!209, 2071 827 Dec. 31.. 7, 494, 01015, 066,154 2, 427, 856! 228,1641,199, 69219U, 096! 1, 208,144 8, 747,802J5| 703, 986 1, 666,420 62, 666! 1,314, 730:5, 640, 3081 7, 306, 728j713,147!166,190 835 1924—Mar. 31.. 7, 590, 7305,179,101 2, 411, 629 172, 822'l,, 238, 807155, 082 1, 234,431 8,809,42415, 622, 719 1, 744, 610| 74, 248 1,367,847 5,606,831 7, 351, 441738, 616 107,153 843 June 30. _. 8,070, 9665, 404, 044 2, 666, 922 226, 982' 1,439, 940189,547,1, 239, 667 9, 535, 373;6,128, 884 1, 786, 274J 36, 472 1,583,743 6,184,928 7, 971,2027!56,506 61,985 840 Oct. 10... 8,471, 2465,544,2112,927,035 366, 79111,560, 244190,055 1, 267,110 9, 454, 508(5, 794, 888 1, 978, 009 62, 615 1,618,996 6, 444,058 8,422, 067|831,948! 47,157, 845 Dec. 31. _ 8, 666, 6835, 720, 312 2, 946, 371 321,606il,624, 765203, 212 1, 267,123 10, 481, 558j6, 754,878 2, 011, 599 50, 538 1,664, 543 6, 760, 924 8, 772, 5231885, 556 100,1521 855 1925—Apr. 6—. 8, 499, 4105, 634, 028 2, 865, 382 252,94lil,612, 441 169,194 1, 322, 771 9, 433, 563 5, 845, 209 2, 082,315 84, 799 1.421,240 6,178, 514 8, 260,829777,110 168, 7801 857 June 30... 8, 745, 7485, 848,148 2,897, 600 243,957J1,653, 643207, 783 1, 339, 541 10, 419, 292i6, 740, 915 2, 099, 725 25,851 1,552,801 6, 629, 782 8, 729, 507848, 817!138, 950 866 Sept. 28__ 8,833,1665, 982, 394 2, 850, 772 202,5171,, 648, 255178,142 1, 343, 249 9, 697, 315J6,186, 688 2, 111, 813 66,115 1,332,699 6, 351,193 8,463, 006801, 882;231,187 874 Dec. 31.. 9, 296, 5986, 511, 496 2, 785,102186, 237II,598, 865205, 724 1, 367, 649 11, 052, 855|7, 216,381 2,178,484 74, 352 1,583,638 6, 960,131 9,138, 615868,685 258,133 880 1926—Apr. 12... 9,039, 6546, 207, 468 2, 832,186 171, 414|l,660, 772187, 772 1, 431, 456 10,062, 890 6, 323, 716 2, 253,128 71,037 1,415,009 6,444,716 8, 697, 844781,876!156,512 885 June 30... 9, 308, 4386!, 398, 775 2, 909, 663196, 774)1,712,889 202,914 1,432, 738 10, 772,488 6, 852,192 2, 312, 027 42, 021 1,566, 248 6, 836, 535 9,148, 562864, 614:110,458 896 Dec. 31.. 9, 666, 9816,861, 318 2, 805, 663 060,40411,745, 259230, 709 1,499, 733 11, 263, 683|7,194, 385 2, 445, 925 60, 037 1,563,336 6, 935, 656 9, 381, 581840, 895!211, 854 913 1927— J M un a e r 3 . 0 2 _ 3 _ .. . 1 9 0, , 1 2 5 5 95 , , 8 9 0 2 4 46 7, , 0 6 2 0 6 1 , , 0 1 7 4 8 6 . 3 2 , , 0 9 9 9 9 4 , , 7 7 2 7 6 8 1 1 8 7 3 6 , ,8 80 0 7 8 j i l 1 ,, ,8 9 1 2 0, 2 9 , 7 91 1 82 1 2 8 7 2 , , 2 7 4 6 0 5 1 1 , , 6 5 0 5 2 9 , , 0 0 0 6 8 2 1 10 1 , , 7 4 2 9 2 0 , , 4 3 5 3 3 6 * (6 7 , , 4 3 2 1 8 4 , , 1 9 0 3 5 8 2 2 , , 6 5 5 2 4 7 , , 5 8 5 2 7 0 11 3 2 2 , , 9 0 2 7 2 2 1 1 , ,4 72 2 0 1 , , 8 5 6 0 9 6 6 7 , , 6 2 6 3 2 5 , , 9 6 3 2 4 9 9 9 , , 1 9 8 0 9 , 0, 7 1 5 8 4 6 9 9 2 1 9 8 , , 2 1 0 6 2 9 > 1 1 11 6 2 1 , , 5 5 6 1 0 4 9 9 2 2 4 7 Oct. 10... io, 135, oio;7, 111, 070|3,023,940 162,683,1,861, 257198, 737 1, 652, 653 11, 206, 035!6, 70.4, 641 2, 748. 230 152,037 1,601,1276, 858,140 9, 606, 370901, 892[185, 495 933 Dec. 31.. 10, 946, 9917, 788, 539 3,158, 452 212, 650 1,, 945,802248,865 1, 702, 548 11, 943, 780|7,108. 056 2, 837,085 75, 808 1,922,8317, 629, 36710, 466, 4521!,037,8831314, 259 937 1928—Feb. 28... 10, 427, 642;7,167, 804 3, 259, 838 341, 43011,918,408 188, 780 1, 742,07111, 259, 540^6, 708, 895 2, 902,196 17, 542 1,630,90', 7, 067, 895 9,970,091 933,218!142,917 J D O u e c n c t . e . 3 3 3 0 . 1 . . . . . . . 1 1 1 1 0 1 , , , 0 8 5 9 9 2 8 2 6 , , , 2 9 9 9 1 0 5 7 88 7 7 , , , 4 5 7 0 5 9 4 8 0 , , , 3 4 5 0 9 1 3 7 2 3 3 3 , , , 1 2 3 8 3 3 8 6 9 , , , 6 4 7 0 2 8 5 0 3 3 3 39 7 5 9 2 3 , , ,4 2 6 4 8 3 8 7 8 ! 1 1 1 , , ,, 9 8 8 6 3 3 7 5 6 , , , 7 1 5 3 6 3 3 7 52 2 1 0 3 9 7 4 1 , , , 4 0 9 1 2 6 4 8 8 2 2 1 , , , 8 0 0 6 0 6 3 5 4 , , , 0 6 2 8 6 3 8 3 5 1 1 1 1 1 1 3 , , , 6 4 9 8 4 3 0 3 9 , , , 6 6 2 0 1 8 6 5 7 ! ) J 6 6 8 , , , 8 8 9 1 7 3 7 5 0 , , , 6 4 6 8 2 7 6 1 3 J 3 3 3 , , , 0 0 1 6 3 4 9 7 5 , , , 3 6 4 3 9 3 7 1 4 3 6 6 4 9 3 , , , 4 6 0 9 7 3 3 7 6 1 1 1 , , ,5 7 7 1 9 0 8 9 1 , , ,4 9 6 2 4 8 6 7 7 | 6 7 7 , , , 7 1 6 4 9 1 1 7 2 , , 6 4 ,5 1 3 4 4 4 9 1 1 0 0 9 , , , 2 7 8 3 5 1 5 7 0 , , , 3 7 9 0 7 8 5 1 3 ' 8 9 9 8 4 9 0 3 1 , , , 9 6 6 9 3 4 9 1 4 4 4 3 8 9 9 1 9 1 , , , 0 4 1 4 4 5 8 5 0 1 934 O W Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PHILADELPHIA DISTRICT 1921—Dec. 31 I 1,691,345 1,026, 609 j 664,736 223,694 441,042 91,794 347,822 1,567,484 902,326 466, 5311 29,405 169,222 941,483; 1,408,014| 104,413 93,971; 704 1922—Mar. 10. _ 1, 707, 462'1, 028, 830 678,632 I229,1041 449, 528 89, 318 354, 309 1,586,729 899,109 486,240 23, 635 177, 745 963,583 1,449,823 104,0011 64, 707 i 710 June 30._ 1,731,097 1,020,011' 711,086 '231, 886i 479,200 93, 557 359,539 1,653,396 960, 961 495, 846 11,420 185,169 ,021,300! 1,517,1461 113,460! 53,036 712 Dec. 29.. 1, 831, 634 1,075, 741 j 755,893 262, 7941 493,099 109,103 383, 421 1,775,782 1,019, 587 521,677 30, 622 203,896 11,066,597! 1,588,274; 116,132| 53, 701! 716 1923—Apr. 3___ 1,913,640 1,134,757: 279,312! 499, 571 108, 467 387,467 1, 841,932 1,027,471 575, 226; 32, 59; 206, 638 1,071,449: 1,646,675! 116,272! 70,502i 717 June 30— 1,963,141 1,173,858; 281,681 507, 602 97, 850 390, 655 1,842,47 , 018,886; 613,728i 24, 776 185,086 1,057,052' 1,670,780! 116,108' 86,022? 720 Sept. 14__ 1,968,196 1,193, 908; 774, 288 269,162 505,126 97, 357 398.264 1,861,07 ,026,379 628,441i 14,018 192,2321,072,889' 1,701,330 i 114,2751 64,331' 722 Dec. 31.. 1, 969,009 1,189,753; 779,256 262,7631 516,493 113,505 400, 928 1,940,235 1, 063,120 645, 252; 18,769 213,094 1,075, 482 i 1,720,734!118,960! 68,468; 722 I F 1924—Mar. 31..._ 11,988,084 1,214, 437 i 773,647 251,066 522, 581 98,310 410,062 1, 897, 466 985, 701 679,593j 33,448 198, 724 .1,033,544! 1,713,137! 114,381 51,173! 724 J D O u e c c n . t e . 1 3 3 0 1 0 . ' I I j 2 2 2 , , . 1 0 1 6 3 3 2 1 7 , , , 9 3 5 7 6 8 2 4 3 |jl 1 1 , , , 2 2 2 8 4 8 5 0 3 , , , 8 2 4 5 8 0 3 7 8 ? 1 8 8 7 5 7 9 1 9 0 , , , 6 9 7 8 5 3 6 5 0 2 2 2 3 4 5 6 4 7 , , , 0 3 3 8 8 0 4 4 0 6 5 6 2 0 5 7 2 4 , , , 6 6 3 4 5 0 6 5 2 ! | 1 1 1 1 3 6 9 2 0 , , , 3 5 9 7 1 9 2 2 " 4 4 4 4 4 2 3 1 5 , , . 1 7 2 8 3 6 6 8 5 2 2 1 , , , 1 1 9 3 1 8 7 7 0 , , , 3 5 2 1 9 7 3 1 9 1 1 , , , 0 0 0 6 9 30 3 3 , , , 7 9 6 8 7 8 0 5 6 7 7 7 4 0 7 2 5 4 , , ,3 77 5 70 0 6 6 1 : ; 2 4 2 0 2 5 , , , 9 9 5 3 4 0 7 9 6 2 2 24 6 3 3 1 0 , , , 3 1 0 9 0 1 9 4 5 1 1 1 , , . 1 0 1 5 8 3 0 4 5 , , , 1 3 1 5 8 8 3 6 3 ! | 1 1 1 , , , 9 8 7 2 7 8 8 8 5 , , , 5 1 8 3 5 5 9 6 9 ! ! ' 1 1 1 2 2 2 4 1 9 , , , 2 3 3 9 1 6 7 3 1 3 2 4 2 3 2 , , , 3 6 0 8 3 9 6 9 2 ; : 1 7 7 7 3 3 3 0 8 6 H W 1925- -Apr. 6... ! 2, 229, 6411! 1,350, 269 879,372 254,8281 624,544J 122,145 454, 274. 2,145,079 1,082, 756 782, 709 49,749 229,8651,143,679 1,926,388 i 119,790 40,180: 740 June30._ I 2, 248, 606111,380, 644 867,962j I 233, 020 634,942 108,951 460, 206 2,178, 8831,131,811 809, 256: 18,91" 218,899 1. 180, 408 1,989,6641 139,752 54,793; 749 W Sept. 28.. ! 2,307,840||l,446,386 861,454j! 225,886 635,5681 109,112 463,378 2,193, 043 11,131,363 829,146i 26,712' 205, 822 ,181,373 2,010,5191 129,518 54,980! 753 Dec. 31.. I 2,336,929 11,484,944 851,98511 224,877 627,108| 126,891 467,109 2, 300, 3171,198,146 849,9181 28, 906 223, 3471, 220, 88" 2,070,805 j139,801 61,698| 751 w p> 1926—Apr. 12.. 2, 404, 47711,545,600 244,189 614,688| 118,656 486, 082 2, 292,189 1,152,987 880, 283 47, 298 211, 62111,192, 583 2, 072, 866 131,9io' 65,059 756 June 30.. 2,419; 6151,574,278 845,337! 213,342 631,9951 117,493 488,052 2, 318, 643 1,169, 421 897, 745 27,070 224,407|l,210.594 2,108, 339 135,378, 66,680 760 w Dec. 31.. I 2,478,1211,615, 7011 862,42011 205, 786 656,634) 122,531 5.07,067 2, 385, 649 1, 194, 027 942, 801 29, 388 219, 433(1,219,381 2,162,182 139, 7541 75,116 769 1927—Mar. 23_. 2,518,269 II, 593,840 924 429 247,173 677,256 105,424 516, 626 2,369, 542 1,141,824 975, 913 45, 592 206,213Jl,202,784 2,178, 697 138,391 52,640 770 June 30. _ 2,531,08011,604,480 926, 600 233,691 692,909! 112,284 520,155 2,395,9"" , 160, 679 1., 000, 432 25,778 209,0891,198,405 2,198, 837 140,900 65,731 773 tel D O e c c. t . 10 31 _ _ _ _ 2 2, , 5 5 8 8 8 9 , , 3 3 7 2 3 3 1 1 1 1 , , 6 6 1 1 9 6 , , 5 3 9 2 9 5 9 9 6 7 9 2, 7 0 2 4 4 8 2 23 4 3 8 , ,6 5 4 5 2 3 7 73 2 8 1 , , 4 0 9 8 5 2 1 1 0 3 5 0 , , 9 7 6 8 0 5 5 5 4 42 3 , , 2 5 5 :" 9 2 2 , , 4 46 4 8 3 , , 6 8 1 6 5 : 1 1, , 1 1 6 67 3 , , 9 6 6 0 3 3 1 1.,. , 0 0 5 2 4 5 , ,99 62 4 5 ; 4 2 1 1 , , 6 0 1 1 3 3 2 22 1 5 2 , , 2 4 6 0 6 5 il 1 , , 2 2 2 0 5 0 , , 2 3 9 9 8 0 2 2 , , 2 25 5 1 5 , ,0 2 1 9 5 2 1 1 4 4 1 2 , , 7 1 8 1 9 8 3 7 9 2 , , 5 8 1 3 3 9 777776 o 1928—Feb. 28 ! 2,574,616 1, 597. 468 977 148 241,325 735, 823 99, 071 550, 082 2,-387, 9921,115, 7091, 070, 330i 4,833 197,12011,176, 753 2, 247,083 141,136 66,396 779 W June 30. •-2•,6•5-5-,8--02 il, 690,219 965 583 226,496 739, 087 115,888 563,490 2, 419, 7777" 81', 114, 254|1,104, 008' 13,208 188,308ll, 149,187 2, 253,195 137,420;112,785 786 w Oct. 3_. I 2,693,461 !l, 729,944 963 517 249,598! 713,919 119, 703 582, 059 2, 467, 61 1,140,456 1,106,901 8,499 211,7611,177,""" 2,284, 587 142, 438!113,808 784 HH Dec. 31. I 2,665,75511,744,565 921 190 230,977 690, 213 126,280 578, 972 2,487, 6~5"4 1,179,8551,091,091 15, 572 201,1361,171,440 2, 262, 531 136, 047 99, 244 778 W For footnotes 1-6 see p. 175. 7 Due to banks revised (for New York district only) to include amounts due to own foreign branches beginning March 23, 1927. a Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 93.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928—Continued CLEVELAND DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Capital, Net Reserve Call date Total Loansl Total Inve s U e s t t c i . m e u S s r e . i- nts s O e t c i t e h u s e ri r - b f a D r n o u k m e s 2 p su v u ro a r i n d p n f d i e l d t i u d s - s, de T p ( o * o t ) s a i l ts D p e o d m ( s ' e i ) t a - s n 4 d U S p n o t d a e s i t t - i e e ts s d I I b D a u n e k s t 6 o d de e N p m (* o e a ) s t n it d s d de e t p p m i ( l m * o u a ) s s e n it d s e b s r w F a e a e n r i l d t v k r h - e e s - 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 b N b a e u n r m k o s - f 1| 1921—Dec. 31 721,982 256,831 465,151 120,055 443, 540 2,140, 8821,110,0751 829,679 31, 965; 169,163 1,153, 702| 1, 983, 381 132,128 128, 557! 2, 323, 519 !1, 601, 537 J 1922—Mar. 10 2, 361, 397:1, 604, 331 757,066 282,186 474,880 136,594 458, 202 2/238, 2721,135, 608 886, 964 31,023: 184,6771,197,895 2,084, 859 132, 516 June 30 2,415, 212 H, 623,155 792, 057 302, 612 489.445 143,735 464,96f 2, 346,939 1:, 221, 790| 915, 898 15, 308 193,94311, 271,007 2,186, 905 141,369 65, 240i 884 Dec. 29 2,566,545!! 1,674, 543 892, 002 368, 591 523,411 159,714 479,440 2, 532, ., 265, 529J1, 005, 547 35, 701: 225,376 1,368,130 2, 373, 677 153, 239 46, 6371 880 56, 797| 1923—Apr. 3 2, 635, 721 i 1, 735, 661 900, 060 389, 771 510,289' 165,469 482, 0.34 2, 628, 373 1, 340, 858 1, 024, 774 28, 690 234, 051 1,407, 0582,431, 159, 367 41, 37; 878 June 30 2, 735, lOl] 1, 838, 266 896, 835 378, 219 518,616! 153,032 484,360 2, 655, 422 1, 359, 759 1, 068, 268 18, 919 208,476 1,415,216 2,483,484 151, 213 83, 832 880 Sept. 14 2, 737, 022 1, 829,479 907, 543 374,800 532,743 153,484 493,451 2, 693, 402 1, 358,576 1,104,348 7, G08 222, 870 1, 421, 4162, 525, 764 159,162 64,120 881 Dec. 31 2, 725,468!! 1, 841, 586 883,882 337, 937 545,945 147,088 492, 586 2, 697, 972 1, 331, 240 1,135, 752 27, 205 203, 766 1, 358, 5152, 494, 287 152, 093 57,914 877 1924—Mar. 31 2, 785,473 1, 862, 522 922, 951 364,992 557,959 159,580 501, 837 2, 747,624 1,330,507 1,172,043 34, 566 210, 508 1, 383, 4942, 555, 537 156, 029 46, 290 876 June 30 2,827,379!!l,877,061 950, 318 380, 895 569,4231 178,200 504, 602 2, 833,9011, 352, 411 1, 233, 441 19, 129 228,92011,411,454 2, 644, 895 158,172 31,671 873 Oct. 10 2, 927, 572 11,896,"7"7" 1L, 030, 795 446,091 584,7041 202,198 519, 340 2, 951, 27'99 1.,374,189 1,252,237 33,165 291, 688 1, 488,1362, 740, 373 168, 858 28, 647 872 Dec. 31 2,915,147il,896,063 1L;, 019, 084 426, 795 592,289] 169,935 513, 341 2,917,9111, 367, 064 1, 246, 764 22, 816 281, 267 1, 453, 9512, 700, 715 163, 59S 55,626 871 1925—Apr. 6_ — 2, 990, 768 :1,969,494 1[., 021, 274 423, 828 597.446 169,015 525, 296 2, 997, 555 1, 383, 080 1, 298, 976 48, 567 266, 932 1, 479, 8782, 778, 854 177, 348 40,069 869 June 3O._ 3,021, 365} 12, 011,, 473 1L, 009, 892 407, 929 601,963 158,871 523, 686 3,034, 500 1, 429,17811, 328, 000 24, 698i 252, 626 1, 504, 3782, 832, 378 175, 224 47,997 865 Sept. 28.. 3,082,835 |i 2,063;,, 8151L;, 019, 020 415,174 603,846i 161,947 520,333 3, 052,192 1,429, 266 1, 342, 045 35, 393 245,48811, 502,9672, 845, 012 176, 535 65, 761 864 Dec. 31._ 3, 044, 613]|2,059,826 984, 787! 377,444 607,343 170,764 516,112 3, 052, 56511,438, 295 1, 338, 656 27, 751 247, 863 1, 473, 21;2,811, 874 172, 340 76, 722 863 1926—Apr. 12 3,114,603 2,110, 503 1,004,100 404,163 599, 937 161, 630! 527,090 3, 096, 756! 1,426,150J1, 388,458 41, 796 240,3352 1., 477, 9012,866,359 177,825 65, 634 860 June 30 I 3,160.7482,135, 311 1, 025,437 402, 385 623, 052 177, 936i 526,168 3,169,922| 1,478, 616 1,426, 613 25,181 239, 5121, 529, 8532,956,466! 179,455 58, 821 860 Dec. 31. "3,132, 525 2,143,838 ' 988, 687! 353, 932 634,755 170,647; 529, 783 3,129,859:1,439, 708 1, 423, 674 20,495 245, 9"8"2" '1,471,472 2,895,1461 179,490 91,355 8S6 1927—Mar. 23,. 3, 232, 2792,159, 734 1L, 072, 545 411, 282 661, 263 185, 496) 540, 208 3,270,117(1,495,113 1479, 320 30, 294 265, 390 1, 570, 3903,049,710 194, 278 44,937 846 June 30 ._ 3, 267,065!2,178, 525 1L, 088, 540 398, 760 689,780 168, 759! 539, 565 3, 290,484! 1,490,17111.523, 8541 21, 243 255,196 1,559,309 3,083,163 180,034 48, 511 841 Oct. 10-_ 3, 325, 300i2, 200, 739 1L., 124, 561 425,1481 699,413 185,855i 551, 294 3,335,184; 1,458,387|l!568, 627i 31, 243 276,927 1,549,143 3,117, 770 193, 891 60, 721 836 Dec. 31 ._ 3,296,433J2,161.,, 765 11,134, 668 411, 708 722,960 184,196; 549,921 3,303,756|l,460,34811544, 204 24, 401 274, 80311,523,126 3,067, 330 180,917 68, 372 835 1928— Feb. 28.. 3, 347,123;2,187,6271,1,159,496 434, 356i 725,140 179, 299; 533.163 3,356, 766; 1,458,1271 610,144 9,267 279, 228; 1, 534,957 3,145,101 196,926 74, 224 834 June 30.- 3,447, 5852, 265,79811,181, 787 429, 473 752, 314 159, 780 560,096 3,366,288il,477,849! l!643, 809j 17, 629 227, 001 1, 521, 844 3,165,653 181,671 111, 464 823 Oct. 3___ 3,426, 978 2, 274,465 1L, 152, 513 447, 786 704,727 182, 543i 569, 862 3, 413, 370jl.479,88511.645, 637 12, 773 275, 075! 1,553,712 3,199,349 191,919 78,368 818. Dec. 31— 3,414, 291 2, 291,196 1L, 123, 095 423,961 699,134 181,140; 570,421 3,401,112)1,497,7651 642, 632 24,153 236,562,1,490,257 3,132,889 185,295 105, 201 816 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RICHMOND DISTRICT 1921—Dec. 31 1,111,299| 864,938 246,361 141, 942 104,419 71,059 209, 590; 978, 693 499, 7 362,861! 13,2351 102,822 518, 072, 880, 933 58,0241 114,37! 625 1922—Mar. 10.. _ 1,094,817| j 852,392 242. 42.! 137, 650 104,775 69, 019 214,9321 964. 750 479, 730 371, 994 11,497 101, 529 502,082 874,076 54,126 626 June 30_-_ 1,090,441 ( 854,484 235; 957 125, 241 110, 716 81, 798 218,077j 1,022,971 513,230 395, 2351 7,056 107, 450 530, 628: 925, 863 59, 714 53,494 628 Dec. 29_._ 1,147, 755 893, 543 254, 212 142,681 111,531 86,156 223,193| 1,089,119 543,219 399,1751 13,095 133, 630 573, 281 972,456 61,123 64,328 630 1923—Apr. 3-... 1,168,8671 910, 300 258, 567 147,561! 111.006 90,335! 222,836' 1,116,138 552,363 422, 732! 14, 702 126,341 576, 244 998, 976 61, 61,853 632 June 30... 1,181, 802 922,863 258,939 145, 510 113,429 80,5101 222,392! 1,095,204 540, 503 432, 936 14,090 107, 67" 553, 972 986, 908 59, 493 83,340 629 S De e c p . t. 1 3 4 1. . . . . 1 1, , 2 1 0 9 4 4 ,4 ,3 4 2 5 6 1 ! ! 9 9 3 4 2 7 , , 1 6 8 0 0 4 2 2 6 5 2 6 , , 1 8 4 4 6 1 1 1 4 4 1 7 , ,1 9 3 3 9 7 1 11 1 4 5 , . 0 9 0 0 7 4 ) 1 8 0 0 2 , , 3 3 0 3 2 1 2 2 2 2 2 6 , , 5 4 9 8 2 1 | 1 1 1 , , 1 1 0 9 1 3 , , 1 3 0 6 6 1 5 5 9 4 2 6 , , 5 5 4 2 6 5 4 4 4 3 1 2 , , 3 6 8 2 8 9 10 8 , , 4 7 9 7 4 5 ! 1 1 4 1 8 3 , , 1 9 7 3 7 3 6 55 1 9 7 , , 5 9 1 6 7 6 ! 1,0 9 5 9 8 2 , , 9 5 0 9 5 r 6 6 0 6 , , 3 9 7 4 8 7 6 92 3 , , 3 9 9 5 3 1 6 6 2 2 7 6 1924—Mar. 31.. 1,212,007 I 958,139 253, 868 132, 974 120, 81,830 230, 271 1,141, 728 556,141 455,391 14, 257 115, 939 571,757! 1,027,148 61, 50c 72,649 626 June 30.. 1,192,8371 952,353 240,484 124,328 116,156 87,187! 229,001 1,141,676 541,144 466,110 10, 6351 123, 787 552,623 1,018,733 61, 079 67,596 624 I Oct. 10... 1,215,112J i 957,002 258,110 132, 989 125,121 107, 074 234, 073 1,193,038 551,704 479, 437! 20,641 141, 256 576,343| 1,055,780 64,699 51,434 620 Dec. 31 .. 1, 220,335 j 957, 330 263,005 132,612 130,393 109,057 229, 014 1, 241,166 596, 804j 483, 072 12,472 148,818 614,340! 1,097,412 69, 632) 47,745 617 1925—Apr. 6 — 1, 243,086 975, 772 267,314 138, 297 129,017 18, 2361 235,034 1,224,377 566, 497| 494, 553 22, 934 140, 393 592, 666 1, 087, 219 65,060 48, 083 June 30. _ 1,251,624 989, 566 262, 058 131,765 130, 293 »i, 496, 234,199 1,213,258 567, 657, 510, 542 12, 088 122, 971 577, 037 1.087, 579 62, 745 66, 788 607 Sept. 28.. 1,275,481•'1,016,936 258, 545 129, 0711 129,474 104,110 234,1031 1,248,596 583, 238 507, 871 13,877 143, 610 604, 262 1,112,133 68,417 68, 642 606 Dec. 31.. 1,289, 955 1,030,047 259,908 126, 227 133, 681 112, 063 229,688 1,316,353 631.108 510, 316 15, 543 159, 386 650, 431 1,160, 747 70,031 55, 249 604 1926—Apr. 12.. 1, 292, 990 1,028,153 264,837 132, 506 132, 331 94, 614 234, 457 1, 275,337 598, 041 517, 887 21,124 138, 285 617,119 1,135, 006 66, 746 53, 065 592 3 June30._ 1, 281,068 1. 016,044 265,024 126, 264 138,760 99, 617 232,255 1, 267, 999 601,696 522, 721 13, 775 129,807 611,544 1,134, 265 66,977 58,373 587 W Dec. 31.. 1, 274, 867jl, Oil, 253 263,614 120,744 142,870 111,896 233, 269 1,313,711 626, 016 526, 267 12,489 148, 939 643, 917 1,170,184 71,890 36, 895 583 GO 1927—Mar. 23.. 1, 288, 6761,007,986 280, 690 131, 424 149,: 102,055 238,412 1, 299, 956 593, 218 538,140 21, 906 146,692 620,750 1,158,890 70, 75l| 27,457 571 June 30.. 1,310,826 1,013,610 297, 216 132,422 164, 794104,877 237, 349 1, 331, 522 613, 596 566, 449 12, 922 138, 555 630,919 1,197,368 73,254 35,479 569 Oct. 10... 1, 358, 261 1, 033,609 324, 652 143,394 181, 258120, 437 243, 624 1, 396, 304 627, 914 580,490 24, 0591 163, 841 665555,5 55500 1, 236, 040 74,167 34, 572 568 Dec. 31-. 1,362,094 1,028,354 333,740 139,141 194,599 124, 077 239, 425 1,414,728 626,750 599,094 16,416 172, 468 654,181 1,253,275 76,460 31,557 564 O P 1928—Feb. 28.. 1,341, i 'l, 012,275 329,373 135,934 193,439 97,880 242,136 1, 336, 705 587,171 599, 928 8,525 141, 081 622, 355 .1, 222, 283 71, 705 34, 039 561 K June 30 _. 1, 344,487 1, 020, 535 323, 952 130,587 193,365 90,184 240,848 1,303, 391 571,878 606, 060 10, 655i 114, 798 580,900 1,186, 960 69,881 69,150 557 Oct. 3_... 1,338,981 1,023,137 315,844 131,460 184,384 104,668 237,724 1, 326,052 582.109 599, 678 10, 798! 133,467 598,316 1,197,994 70, 995 63,165 554 Dec. 31... 1,338, 263 1,021,518 316, 745 129,800 186, 945103, 575 238,406 1,355,455 602,158 596,387 15, 727 141,183 613,570 1, 209, 957 67, 986 48, 723 547 For footnotes, see p. 175. CD Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 92.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928—Continued 00 ATLANTA DISTRICT O [In thousands of dollars. For back figures see Annual Eeport for 1927, Table 86] Loans and investments Capital, Net Reserve Call date Total Loans ! Total Inv s e U e s c . u t m r S i . e - nts s O ec th u e ri r - b f a D r n o u m k e s; p su r v u o a r i n p f d n d i d l e t i u s d - s 3 , de T p ( o * o t ) s a i l ts D p e o d m ( s * e i - ) t a s nd p T o d i s e m i - ts e 8 U S p n o t d a i e s t t - i e e ts s d b D a u n e k s t o 6 d d e e N p m (* o e a ) s t n it d s d de e t p p m i C l m o u a ) s e s n it d s e b s w r F a e a e i n r l t d v k r h - e e s - 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 N b b a e u n r m k o s - f ties ties 1921—Dec. 31 847,324 684, 694 162,630 96, 933 65,697 84,367 157,632 754, 658 416, 479 246, 313 9,445 82,421 418, 551 664,864 44, 357 121,681 512 I 1922—Mar. 10 807,198 656,420 150,778 87, 911 62, 867 91,177 162,347 775,984| 417,: 247, 524 10,749 100.403 435, 3151 682,839j 45, 210 59, 856 520 June 30 807, 453 654, 288 153,105: 90, 877 62,""" 93, 224 163, 580 802, 854| 434,167 264, 680 6,114 97, 893 j 448,132 712, 812i 45, 301 38,116 530 Dec. 29 882, 540 714,160 168, 380; 100, 228 68,152 115,426| 168, 360 927, 000 499, 465 281, 241 13, 395 132,899 519, 551| 800, 792! 55, 669 39, 587 536 j 1923—Apr. 3--. 907,130 730, 565 176, 565 106, 877 69, 119, 606 169, 795 963, 289 505,043 306, 252 14, 606 137, 388 527, 310 833, 562! 57, 037 27, 987 533 June 30-_ 919, 555 737, •""" 182, 0671 106, 432 75, 635 96, 574 170,178 926, 811 486, 685 317, 947 13, 421 108, 758 505, 089 823, 0361 53, 814 43, 721 530 Sept. 14.. 922, 357 739, 312 183, 045! 104, 242 78, 803 91,633 173, 278, 901, 0501 476, 242 316,151 8,432 100, 225 485, 203 801, 354! 51, 438 69, 232 528 Dec. 31- 978, 266 793, 646 184, 620| 101, 638 82, 982 120, 703 168,988; 1,014,180 542, 810 323, 934 13,421 134, 015 553, 646 877, 580| 55, 029 64, 445 525 1924—Mar. 31- 963, 919 784,499 179, 420 94, 421 84, 999 106, 991 173, 57O| 980,911 513, 519! 334, 010 8,964 124, 418 531, 205 865, 2151 55,143 59, 592 519 June 30_ _ 934,134 764,146 169, 988 80, 497 89, 491 116,989 175,148 966,022 490, 845 353, 746 7,113 114, 3181 501, 765 855, 511 46, 248 518 Oct. 10--. 950, 287 778, 419 171, 868 78, 776 93, 092 144,634 177, 989 j 1,021,003 512, 505 353,174 11,001 144, 323 530, 425 883, 599' 57, 512 38, 723 515 Dec. 31- 995,156 813, 079 182, 077 80, 359 101, 718 161, 860 172,972 1,125,180 585, 685 359, 373 7,904 172, 218 607, 966,462 63,489 26,809 510 1925—Apr. 6... 1, 056, 772 860, 245 196, 527 91,181 105,346 186,971 178, 380 1. 204,1 603, 787 382,108 18,188 200, 718 642, 390 1, 024, 498 68, 983 25, 254 505 June 30-. 1, 080, 744 877,181 203, 563 90, 891 112,672 168,938 178,489 1, 208, 026| 617, 398, 360 11, 584 180, 676 649, 793 1, 048,153! 70, 528 31, 015 501 Sept. 28- 1,196, 653 962, 891 233, 762 106, 200 127,562, 215,141 180,729 1,371,1681 700, 987 407,425 18, 521 244,235( 755,671 1,163, 096j 77, 372 37, 247 500 Dec. 31.. 1, 241, 844 995, 262 246, 582 I106,137 140,445! 210,957 177, 718 1, 447, 965 777, 929 425, 613 16,176 228, 247 j 1, 234, 562J 79, 311 32,135 495 I 1026—Apr. 12.. 1, 235,196 989, 474 245, 722| 108,152 137,570 172,755 188, 245 1, 356, 323 715, 043 432, 954 20, 542 187, 784 748, 555 1,181, 509J 77, 529 52,124 492 June 30.. 1,171, 995 938, 772 233, 2231 95, 441 137,782 154,822 188,184 1, 266, 473 651, 910 443, 009 12, 751 158, 803 667, 695 1,110, 704 67,406 49, 667 488 Dec. 31 — 1,158,183 927, 002 231,1811 87,187 143,994! 161,! 187, 212 1, 266, 229 645, 511 431, 328 15,471 173,919 660, 973 1,092, 301) 68, 292 52, 551 475 I 1927—Mar. 23- 1,154,415 902, 851 251, 564' 113, 80' 137,757 143,649 191,831 1,235,743 601, 435 447,148 25,170 161, 990 629, 897 1, 077, 045 69, 360 47, 029 471 June 30— 1,141, 096 885, 482 255, 614 112, 963! 142,651 136,702 192, 237 1, 217,106 587, 824 461, 993 16, 844 150,445 611, 919 1, 073, 912 65,820! 42,495 469 D O e c c t . . 1 3 0 1 _ - _ 1 1 , , 1 1 6 5 4 9 , , 6 7 2 3 5 1 8 8 8 9 8 9 , , 2 5 0 0 6 5 2 26 7 0 6 , , 4 2 1 2 9 61 | | 1 12 1 4 8, , 1 6 9 6 2 4 ( j 1 1 5 42 1 , , 0 7 3 5 4 5 1 1 5 6 8 0 , , 6 4 5 9 4 S j J 1 1 9 9 2 5 , ,1 7 8 0 0 3 1 1 , , 2 28 6 8 9 , ,4 0 2 1 8 1 6 5 2 96 3 , , 5 8 0 1 4 0 4 45 6 4 2 , ,7 6 4 4 0 2 2 1 4 7 , , 3 3 5 3 7 0 1 19 8 3 4 , , 4 6 3 1 7 9 6 63 5 5 0 , ,4 3 3 4 1 5 1 1, , 1 0 1 8 3 9 , , 1 7 98 1 7 1 6 7 7 3 , , 2 30 1 7 5 ! 3 3 6 4 , , 4 7 2 8 1 1 4 46 6 4 5 1928—Feb. 28- 1,139, 061 880, 600 258, 461 |113, 431 145,030 141,847 196, 841 1, 227, 296 594, 333 458, 559 5,000 169.404 630,232 1,088,791) 70, 583 33, 578 460 June 30-_ 1,173, 465 910, 221 263, 244 I113, 831 149,413 124,169' 198, 004 1, 205,967 577, 566 476, 523 18,165 133,713 595,928 1,072,451 65, 795 54, 288 457 Oct. 3__. 1.187, 513 901,140 286, 373 I134, 003 152,370 127,258! 201, 877 1,165,149 548,165 466, 823 12,186 137, 975 564,397 1,031,220 64, 351 110,903 454 Dec. 31- 1.188, 390 895, 201 293,189!! 134, 779 158,410 144,035 199, 912 1, 254, 032 609, 252 466, 602 17, 022 161,156 625,566 1,092,168 63,852 52,139 453 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CHICAGO DISTRICT 1921—Dec. 31 j 3,481,917 2, 713, 580 768, 337 297,435| 470,902 247, 574, 517 3,415,153 1, 679,438jl, 285, 59737, 466 412, 652 1, 816,032 3,101, 629 235,593| 228,810 1,442 1922—Mar. 10 I 3,481,1082, 701, 518 779, 590J 299, 205 j 480, 385304,804 578, 532 3, 583, 323 1, 704,145:1, 297, 55343, 887! 537, 738 1,939,601 3, 237,154 250,924j 101,633 1,440 June 30 3,542,924 2,671,998 870,926 372,845 498,081 290, 833 583, 672 3, 721,013 1, 876, Oll'l, 336, 36418, 363! 490, 275 2,045, 567 3, 381, 931 266,273i 79,739 1,441 Dec. 29 1 3,749,072 2, 751, 216 997,856! 463,459' 534,397 296, 525| 608, 627 3,938, 631,1,949,008 1,433,100 49,1211 507,402 2,108,478 3, 541, 578 277,73l| 106,724 1,440 1923—Apr. 3._- i, 875,1402, 857, 546 1, 017, 594 464,811 552, 783 323,115 603, 560 4,045, 088 1, 956, 6011, 483, 74339, 014 565, 730 2,158,605 3, 642,348 269,689 123,996 1,437 June 30__ 3, 905,9442,880,042 1,025,902 474,862 551,040 306, 254 605, 630 4,091, 564 2,001, 394 1, 530, 72137, 941 521, 508 2,178, 847 3, 709, 568 273,134 89, 375 1,434 Sept. 14- 3,896,856 2, 885, 975 1, 010, 881 475, 597 535, 284 300, 297 615, 238 4,074,409 1,986, 7511, 535,188 17,458 535,012 2,173, 344 3, 708, 532 282,042 92, 722 1,432 Dec. 31.. 3,898, 506!" 870,0741,028,432 457, 545 570,887 299, 879 608, 381 4,123, 464 2,022, 700 1, 572, 31125, 441 503, 012 2,153,042 3, 725,353 270,698) 109,317 1,427 I 1924—Mar. 31- 3,935,047 2,919, 539 1, 015,508 466, 741 548, 767 295, 935 617,270 4,116,023 1,941,, 527 .1,, 589, 79138, 552 546,1532,149,297 3,739, 261, 675 70,960 1,423 June30_. 4,009, n9K/5|412, 950, 86311, 059,091 493,414 565, 67" 372,892 619, 066 4,385,733 2,096,77741, 645, 284 22, 736 620, 9392,287,485 3,932,769 298,035 51,190 1,422 Oct. 10-. 4,220,466|3, 074,978 1,145,488 522,874 622, 614 400,150 633,161 4,571,553 2,168!,, 5534 1., 678, 43828, 753 695, 8282,443,302 4,121,740 308, 679 35,094 1,419 H Dec. 31.. 4, 209, 7253, 031,120 1,178, 605 523,365 655,240 365,987 617,035 4, 630,437'(2, 238,4951, 732, 371 35, 548 624, 0232,423,364 4,155, 735 314, 698 44, 245 1,408 W 1925—Apr. 6_... 4, 263,294!3,058,0621,205,232 532,802 672,430 357, 215 630, 730 4,600,40312,168,7981,-, 761, 61256,497 613,4962, 389, 382 4,150, 994 312,949 60, 618 1,407 June 30 4,370,4473,181, 236 1,189, 211 509,219 679,992 375, --" 630,078 4, 798, 7022, 324, ., 833, 63829, 852 610, 7882,480, 853 4, 314, 491 322, 224 71, 238 1,404 S D e e p c. t . 3 2 1 8 4 4 , , 4 4 3 7 3 8 , , 4 7 9 2 5 9 i ; 3 3 , , 2 2 4 7 5 6 , , 9 27 7 2 6 1 1, , 1 2 8 0 7 2 , , 5 4 1 5 9 7 4 4 9 95 6 , , 6 2 7 8 3 6 6 7 9 0 0 7 , ,1 8 7 4 1 6 3 3 3 4 4 1 , , 1 5 0 8 2 9 6 6 2 1 6 7, , 2 3 8 5 9 5 4 4 , , 7 8 4 7 2 3 , , 3 8 2 9 9 3 | 2 2 , , 3 0 3 0 6 , 9 4 , 0 6 9 7 1 7 L L , , ,1 . 8 8 3 8 7 1 , , 0 6 4 4 2 2 3 3 1 7 , , 3 0 1 6 9 8 5 58 7 6 2 , ,95 " 9 " 2 2, , 4 5 9 35 3 , ,0 7 3 1 7 9 4 4, , 3 4 3 16 0 , , 6 7 7 61 9 3 3 1 0 9 5 , , 5 33 1 6 3 [ 6 9 6 3 , , 7 8 7 5 0 7 1 1, , 3 4 9 0 8 6 W 1926—Apr. 12... 4,490, 0623, 286,195! 1,203, 86' 481, 67' 722,190 337, 713 629, 089 4,831,96112,292,0781L, 898,341 35,324 5,218 519, 704 4,418, 045 321,071 80,919 1,379 June 30... 4, 579,4093,374,23211,205,17' 496,670 708, 507 368, 451 644, 846 4,957,253:2,388,3761L, 935, 044 20, 975 6122, ,885588 2, 555588,, 773311 4, 493, 775 342,157 98,965 1,366 Dec. 31-__ 4, 542, 5393,388,470!^, 154,06! 414,941 739,128 333,944 653, 259 4, 887, 284!2, 358, 790\ 1, 935, 86523, 380 569, 249 512,156 4, 448, 021 310, 644 108, 289 1,335 GO 1927—Mar. 23.. 4, 589,9073,328,2151,261,692 493, 243 768,449 314,242 668, 841 4, 844, 7512, 273, 464 1,932, 93142, 309 596, 0472, 508, 605 4, 441, 536 316, 516 71, 693 1,319 June30_. 4, 711,934!3,460,58811,251,346 497,669 753,677 336,691 679,468 5,038,300 2,411, 982 2, 029, 28923, 968 573, 0612, 587, 617 4,616,"" 310,885 68,414 1,308 Oct. 10.. 4, 748, 809'3, 486, 417 1, 262, 392489, 950 772,4421 329,073 694,979 5,092,939 2,410,072 2,054, 586 42,100 586,181 2, 612, 648 4, 667,234 339,688 34,196 1,300 Dec. 31.. 4, 858, 646'3, 519, 373 1, 339, 273503,45f 835,8211 328,559 709,876 5, 212,830 2,483, 882 2,140, 00824, 823 564,11 2, 642, 263 4, 782, 271 348, 638 67, 714 1,290 O 1928—Feb. 28. 4, 849, 2123, 462!,, 236. ,1 386,976542, 576 844,400 318,925 713, 227 5,120,664 2,380,803 2,138,482 7,795 593, 584 2, 597, 111 4, 735, 593 335, 785 63, 81 1,274 June 30. 5,117, " 3, 697, 574 .1,, 420,024563, 600 856,424 341,938 724, 958 5, 334, 624 !2,, 512,35812, 275, 30018, 278 528, 688 2, 643, 333 4,918, 633 330,451 164, 798 1,264 Oct. 3... 5,137,3483, 772,110 1, 365, 238 559, 299 805,939) 335,282 748,066 5, 350,410 2!,, 502, 605|2, 256, 6401)6,454 574, 711 2, 665, 947 4, 922, 587 344, 880132, 964 1,260 Dec. 31. 5,162, 5853, 812,187 1,350,398 535, 597 814,801! 345,051 755,061 5,458,419 2,63~7";, 746 2, 257,1631 19,421 544,089 2,680, 742 4,937,905 343,073 163, 576 1,252 For footnotes, see p. 175. o 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 92.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928—Continued 00 ST. LOUIS DISTRICT to [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Call date Loans 1 Investments s O e t c h ur e i r - C s p u v u r a a o r i n p d p n f d i e i l d t t i u d a - s s l 3 , , de T p ( o o * t s ) a it l s D p e o d m ( s * e i - ) t a s nd p T o d s i e m i - ts e 5 b D a u n e k s to e d de e p N m o e s a i t n ts d d d e e t p p N m i ( o m l * u e s a ) i t s e n ts d R e b s e w r F a e a s e e n r i l v t d r k v h r e - e s e - p c r a B o e a y u d n a il b n i d l s l s t - e s N b be a u r n m k o - s f ties 3 1921—Dec. 31 983,886 764, 021 219, 97, 610 122,255 77, 350 178,1 935, 653 515, 877 284,143 8,106 127, 527 548,756 832, 899 65,171 74,; 585 1922- Mar. 10... 978, 769 750, 634 228,135 90,208 180,603 963,122 295,259 11, 306 147, 575 558, 639 853,898 61, 769 38, 469 589 June 30... 999, 039 738,395 260, 644 98,241 185,964 1,005, 568 535, 843 313, 782 6,232 149,711 379, 673 893, 455 63,491 26, 301 605 Dec. 29 — 1,118, 350 802, 437 315,913 162, 5481 122,420 190,985 1,166, 601 616, 833 340, 447 14, 731! 194,590 675,376) 1,015,823 69, 7321 37,073 1923- Apr. 3 1,151, 916 820,105 331, 811 168,454 110,40; 192,375 1,182, 334 620, 410 362,186 13, 977 185, 761 685, 678 1, 047,864 75, 621 34,084 618 June 30— 1,154,982 818, 861 336,121 ! 171, 321 193,783 1,133, 448 597, 800 367, 14,196 153, 570 652,449 1, 020, 331 68, 782 50,220 621 Sept. 14 __ 1,171, 327 843, 535 327,792 ' 170, 074 197, 612 1,124,062 595, 760 381, 404 3,823 143, 075 640,475 1, 021, 879 65, 053 70,875 622 Dec. 31 — 1,182,166 852, 844 329, 322 175,997 194, 054 1,181,238 622,433 384, 646 9,028 165,1311 663, 726 1, 048, 372 70, 058 I 63,914 624 1924—Mar. 31... 1,175,542 855,217 320, 325 139, 818 180,507 87,826 196, 445 1,152,961 586,834 408, 703 9,417 148, 007 638, 255 1, 046,958 68, 304 46,967 628 1,157, 068 843, 421 313, 647 130,447 183,200 117,085 197,101 1,175,581 600, 776 407, 587 5,945 161,273 643, 954 1, 051, 541 63, 376 31, 460 627 1,182,971 872,907 310, 064 121,502 188,562 139,485 199,528 1,243,101 618,154 423, 605 8,208 193,134! 664, 836 1, 088,441 75, 346 36, 232 625 1,223,248 884,240 339, 008 133, 431 205,577 153,630 186,176 1, 343, 832 676,122 431,261 13,823 222, 626 733, 571 1,164, 832 80, 758 13,912! 624 1925—Apr. 6__. 1,246,141 355, 303 148, 704 206,599 133, 538 198, 830 1,319,398 660,267 434, 778 26, 881 197, 472 720, 347 1,155,125 78,523 17,531 624 June 30_ _ 1,227, 649 877,430 350,219 129, 769 220, 450117,784 198,454 1,272,211 647, 306 441,922 7, 621 175, 362 698,112 1,140, 034 73, 343 24,160 621 D Se ec p . t . 2 3 8 1 _ .. . 1 1, , 2 3 8 0 0 9 , , 8 5 4 9 3 5 929, 520 3 35 5 9 1 , , 3 0 2 9 3 7 1 13 3 0 6 , , 1 8 9 1 3 7 2 2 2 2 2 0 , , 9 5 0 0 4 6 1 1 2 2 7 6 , , 2 1 3 6 9 3 1 1 9 9 7 8 , , 4 0 5 5 6 4 1 1 , , 3 3 8 0 7 3 , , 0 54 8 4 6 6 7 5 1 0 7 , , 9 5 5 7 5 0 4 4 5 5 2 2 , , 1 8 9 1 6 9 1 12 0 , ,1 5 6 9 8 0 2 1 0 8 4 9 , , 7 60 3 2 0| 7 77 0 6 8 , ,1 9 6 2 3 7 1 1 , , 1 2 6 2 0 9 , , 9 1 8 2 2 3 8 7 1 5 , , 1 9 1 1 4 2 2 4 8 8 , ,2 7 7 8 2 6 i i | 6 6 2 2 8 9 GO 1926—Apr. 12 _. 1, 331, 924 971, 770 360,154 139,267 220, 887114,311 203,567 1, 374, 746 700,582 479,134 16,123 178,907 751,311 1,230,445 82, 611 30, 631 622 June 30.. 1,320,071 951, 830 368,241 135, 854 232,387 110,096 202,920 1, 343,430 684, 784 476, 569 9,865 172,212! 740, 575 1,217,144 76, 904 35,107 619 Dec. 31.. 1,312,593 946, 432 366,161 119,929 246,232 116,093 205, 057 1, 358,840 697, 613 479,590 8,560 173, 077) 734, 044 1,213, 634 83, 017 35, 985 609 1, 331,123 932,548 398,575 I 146, 861 251, 714125,568 207, 018 1, 381,426 668, 643 513,973 14,205 184, 6051 727, 471 1,241,444 80,965 602 o 1, 336, 751 930, 367 406,384 148,543 257, 841111,535 205,417 1,358, 778 670, 557 509,282 6,9811 171, 958 723,990 1,233,272 77, 050 38,453 599 1,358,406 948,412 409, 99411 146,142 263, 852121, 761 210, 769 1, 416,481 694, 111 521, 318 13, 980 187, 072) 748,984 1,270, 302 81, 813 20,272 596 ], 376,531 953, 365 423,166| 146,241 276,925 129,113 209,206 1, 451, 096 715,913 525, 641 8,885 200, 6571 775, 833 1, 301,474 88, 51" 20, 8771 594 1928- -Feb. 28_. 1,373,441 935,779 437, 662 154,2981 283, 364110,726 208, 310 J, 412, 730 681,249 537, 775 4,370 189, 33(j| 747,982 1,285,757 82, 822 28,958 593 June 30_ _ 1,384,322 942,221 442,101 147,651' 294,450 105, 381 209,984 1, 367,318 660,201 543, 605 11, 359 152,153 699,176 1,242, 781 78, 552 64, 806 593 Oct. 3_-. 1,400,512 972, 723 427, 789 149, 654 278,135 116, 803 211,608 1, 394,849 664,964 544,774 5,517 179, 594 712, 637 1,257,411 81, 855 70,135! 590 Dec. 31.. 1,405,7'" 954,105 451, " 161, 431 290,263 118,481 212,829 1, 441,124 711,206 537, 601! 7, 549 j 184,768: 756, 987 1, 294, 588 84, 641 39, 363! 587 I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MINNEAPOLIS DISTRICT 1921—Dec. 31 862,4381 712,371 150,067 74,171 75,896 87,079 140,960 818,666 358,4651 363,010 10, 321 86, 870j 376,306 739,316 43,537 74,017! 1,017 1922—Mar. 10 853,4041 694, 202 159,202 81,000 78, 202109, 693 139, 863 853, 503 364,167 364,168 11,616J 113, 552! 389, 396 753, 5641 43,316 53/ 1,015 June 30 859, 706 687,166 172, 540 92, 664 79, 876 97,116 139, 416 856, 304 373, 432 373, 566 6, 568 102, 738! 771, 635| 45, 544 50,920 1,014 Dec. 29 884,167| 694, 312 189,855 102, 217J 87, 638113, 987 140, 995 923,070 400, 397 390, 583 9,002 123, 0881 427, 421 818, 004! 49, 024 38, 226 1, 000 1923—Apr. 3— 899,193i 696,161 203,032, 111,028 92, 004 135, 421 944,127 393,011 408,234! 9,611 133,271 440, 539 848,773 51, 805 31,8331 989 June 30- 896, 406[ 690, 6811 205,7251 114,761 90, 964 97, 236 134,341 916,088 392,112 416,088 8, 394| 99, 494 411, 603 827, 691 46, 937 43,100 989 Sept. 14__ 684,105! 204,844 112, ~~ 91,851 97,195 134, 939 913, 062 386, 4451 417, 529, 6,023 103,065 409,468 826, 997 48, 065 41,838 977 Dec. 31- 863, 307 655, 670 207,637 113, 498 94,139 105, 461 132, 022 914, 802 387, 722 413,926 5,413 107, 741 410, 581 824, 507 46, 652 26, 978 940 1924—Mar. 31- 853, 424| 639,177 214,247 120,890 93, 357106, 392 126, 691 913, 853 386,117 404, 271 9, 521 113,944 418, 757 823, 028 46, 235 17, 702 903 June 30.. 824, 3331 610, 944! 213, 389 116, 699 96, 690123, 707 123, 376| 909, 020 395, 763 403, 578J 5, 692 103, 987 404, 538 808,116 47, 410 18,984 895 Oct. 10__ 867, 5821 629,480 238,1021 123, 301 114,801 157,181 125,202 1,005,093 422, 371 412, 826| 6,903 162, 993 465, 671 878, 497 53, 559 12, 061 890 Dec. 31. _ 630, 474 276,142 143, 677 132, 465151, 229 125,050 1,044,751 439,0411 430,315| 6, 3211 169, 074 502, 738 933, 053 55, 513 6,384 885 I j 1925—Apr. 6... 906,691 611,8611 294,830) 149,018 145, 812122, 753 122,137 1, 016,127 424, 363 i441,834| 8, 562 141, 471, 763 913, 597 54,1721 5, 526 872 June 30.. 888, 227 596,898! 291,329 140, 961 150, 368110,190 120,444 988, 463 430, 509! 435,281| 5,188! 117, 485 463, 201 898, 482 54,175 7,260 859 Sept. 28.. 895,430 599,474 295, 140, 792 155,164 112, 913 118,414 995, 743 426, 3581 433, 906 8,161 127,318 466,136 900, 042 53,789 7,652 848 Dec. 31.. 893,181 586,117! 307,064 146, 370 160, 694127, 243 116, 3951, Oil, 569 435,382 437, 717 7,429 131,041 467, 865 905, 582 52,192 4,639 829 1926—Apr. 12_. 889,722 575, 372 314, 350 147, 729 166, 621104, 869 115,870 983,324 420, 4721 438, 964 9, 499] 114, 389 450, 935 889, 899 53,592 5,670 817 June 30- 880.562 567, 7631 312. 799 142, 334 170, 465101, 544 114, 627 965, 833 419, 864 i435, 449 6,009! 104, 511 444, 447 879, 896 48, 457 5,226 804 Dec. 31._ 861,998 554,196! 307, 802 133, 351 174, 451 116, 230 114, 625 962, 635 406, 037 435, 897 4, 667J 116, 034 432, 083 867, 980 50, 606 5, 277 764 1927—Mar. 23.. 862,142 540, 495 321, 647 134, 337 187, 310 99,188 113,260 938, 043 389, 382 430, 377 7, 272j 111,012 425, 526 855, 903 50, 717 6,838 743 J O u c n t e . 1 30 0 . _ .. 8 8 5 8 1 1 , , 3 9 8 5 2 0 J i 5 5 3 5 1 2 , , 0 99 5 2 4 3 32 2 0 8 , , 9 3 5 2 8 8 1 1 3 2 1 9 , 5 8 2 2 7 0 5 1 19 9 7 0 , , 6 5 8 0 3 81 14 0 0 5 , , 6 " 16 1 1 1 1 2 5 , , 8 3 8 6 2 7 1, 9 0 4 1 0 6 , , 3 5 0 1 3 54 4 4 0 4 1 , , 1 4 2 0 3 5 4 4 3 3 5 4 , , 1 9 3 8 9 7 i S 5 5, , 4 6 2 9 1 31 13 9 1 8, , 5 5 0 5 0 0 4 4 6 1 8 7 , , 9 5 7 8 1 3 8 9 5 0 2 4 , , 1 5 1 7 0 0 4 5 7 1, , 2 7 6 8 l 1 l ! 5 3 , , 0 4 6 2 6 8 7 7 4 4 2 0 H Dec. 31— 896, 998! 547, 075 349, 923 137, 006 212, 917127,025 115, 3231,011, 277 428, 9421 451, 607 5, 743! 124, r~~ 460, 037 911, 644 54,2171 2,654 735 n I 1928— J F u e n b e . 3 2 0 8 . . _ .. . 9 9 0 0 4 8 , , 6 6 6 6 2 0 5 5 4 4 4 3 , , 7 94 4 0 4 J 3 3 5 6 9 4 , , 9 7 1 2 8 0 1 1 3 3 7 6 , , 4 34 8 7 0 2 22 2 8 2 , , 2 5 4 7 0 1 ! 1 1 1 1 4 0 , , 5 5 5 4 9 9 1 1 1 1 5 5 , , 9 5 6 0 6 81, 9 9 00 6 1 , , 7 6 5 8 2 44 4 1 2 6 7 , , 8 7 8 5 4 9 ! 4 4 6 6 0 1 , , 3 3 6 0 3 8 3 5 , , 5 2 7 7 8 4J 1 1 2 0 1 1 , , 9 3 2 4 7 3 4 4 4 5 6 4, , 4 5 3 4 0 4 9 9 1 0 4 7 , , 9 7 0 3 7 8 53, 926! 3 8 , , 8 2 4 9 7 0 7 7 3 2 1 8 W Oct. 3__.. 927, 986! 557,522 370,464 146, 729 223,7351 121,438 116, 5921, 037, 290 444, 512 468, 509 4,579 119, 690 472, 204 940, 713 55, 323! 13,951 722 Dec. 31__. 932, 852i 560,043 372,809 146, 579 226,230 116,775 117, 9711,042,148 443,805 480, 054 5,550 112,739 465, 402 945, 456 55, 467| 5,279 719 For footnotes, see p. 175. OO 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, 1921-1928—Continued 00 KANSAS CITY DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Call date Total Loans l Total Inv s e U e s t c . i t e m u S s r . e i- nts s O e t c i t e h u s e ri r - b f a D r n o u k m e s 2 C s p u v r u a o a r i n p p d f n d i i d l e t t i u d s a - s l 3 , , de T p o o t s a i l ts D p e o d m s e i - t a s nd p T o d s i e m i - ts e 5 U S p n o t d a i s e t t - i e e ts s d b D a u n e k s t o 6 d de e N p m (* o e a ) s t n it d s d de e t p N p m i ( l m * e o u a ) s t s e n it d s R e b s w r e F a e a s e i n r l e t d v k r h r - e e v s - e p c r a B o a e y u d n i a l n i d l b s s t - l s e N b b a e u n r m k o s - f 1921—Dec. 31 1,048, 918 858, 205 190, 713 103, 419 87, 294 156, 266 170,917 1,092,271 649, 732 242, 616 8,834 191, 089 687, 3361 929, 952 72, 322 94, 963 1,092 1922—Mar. 10 1,017,869 827, 3' 190, 490 106, 213 84,277 199,510 173,056 1,145, 868 656,861 243,049 14, 636 231, 322 706, 0731 949,122 72,, 48, 722 1,112 June 30 1,067,002 842, 236 224, 766 130, 918 93,848] 206.791 174,200 1, 232, 772728,199 262, 921 7, 776 233,876 782,638; 1,045,559 79, 765 31, 238 1,147 Dec. 29 1,115,378 866, 655 248, 723 148,269 100,454! 206,544 179,43' 1, 288, 845751, 291 273, 040 12, 542 251, 972 803, 2041 1,076,244 81,143 35, 840 1,142 j 1923—Apr. 3. _. 1,133,839 876, 757 257,082 I 158,559 98,523 202,278 174,377 1, 309.043 759. 627 285, 648 12,864 250, 904 823,986; 1,109,634 85,040 32,564 1,145 June 30.. 1,145,159 886,108 259, 051 160, 367 98,684 173, 949 172,908 1,259, 218 736,154 300, 687 9,209 213,168 787,8341 1,088,521 81,198 58, 649 1,145 Sept. 14. _ 1,127,800 872, 614 255,1861 157, 510 97, 676 172, 014 173,860 1, 256, 380735,072 299, 566 6,652 215, 080 786,720! 1,086,286 82,152 48,862 1,142 Dec. 31 _. 1,096, 091 849, 063 247,028 141,171 -105, 857 179,835 165,727 1,234,717 722, 247 291,930 6,764 213,776 759,435! 1,051,365 76, 579J 53, 396 1,122 I 1924—Mar. 31._ 1.056, 702 822, 704 233,998 135, 584 98, 414 168,733 165, 666 1,197, 704 694, 293,850 8,404 200,654 745, 699 1,039, 549 74, 998 24,914 1,098 June 30.. 1.037,719 799,805 237,914 133,799 104,115 201,079 162,393 1, 228,956 708,368 298, 607 6,504 215,477 747,807 1,046,414 78, 241 22,815 1,087 Oct. 10.. 1.057, 681 795,1331 262,548 147,575 114,973 306,566; 163,859 1, 381. 434 745,421 297, 288 7,665 331, 060 812, 291 1,109, 579 86,096 10, 232 1,082 Dec. 31-. 1,078, 924 800, 838 278,086 149,747 128,339. 313,260! 158,657 1, 441,426 779, 782 295, 985 6,538 359,121 876,091 1,172,076 93, 892 6.256 1,066 1925—Apr. 6... 1,115,184 811, 303, 596 169,898] 133,698 240,836 159,361! 1,387,051 772,474 305,237 j 13, 561 295, 779 868, 714 1,173, 9511 89, 453 6,959 1,056 June30__ 1,114,620 804, 929 309, 691 173,670 136,021 231,461 159,6431 1,384,705 793,938 312,102j 7,120 271, 545 863, 783 1,175,8851 91, 446 8,753 1,048 Sept. 28.. 1,135, 728 817, 277 318,451 177, 337 141,114) 197,240 158,118! 1,364,381 795, 356 309, 748! 7,965 251,312 871, 428 1,181,176! 87, 775 10, 896 1,038 Dec. 31.. 1,131,484 804, 948 181, 677 144,859 229,406 154,037] 1,408,528 836, 732 294, 962i 8,330 268, 504 891,887 1,186,8491 92, 986 16,858 1,027 I 1926—Apr. 12.. 1,137, 826 794, 226 343,600 198,072i 145, 528 188,641 156,0551 1,349,052 794, 590 315, 685 15, 808 222, 969 845,448 1,161.133 83, 990 20,000 1,017 June 30. _ 1,157,139 811, 649 345, 490 187, 698! 157, 792 199,704 153,771) 1,391,656' 818,430 323, 494 11, 509 238, 223 871, 245 1,194, 739 88, 973 16, 503 1,011 Dec. 31.. 1,135, 968 777,411 358, 557 182,962 175,595 218, 763 152,389! 1,403,513 822,221 317, 771 7,856 255, 665 874, 880 1,192, 651 86,102 7,38" 992 1927—Mar. 23.. 1,159,449 786,494 372,955 194,040 178,915 199,661 156,146] 1,387,912 800,740 330, 719 10,033 246,420 872,960 1,203, 679 89,173 11, 579 984 June 30.. 1,153,509 776,100 377, 409 183,255 194,154 200, 021 155, 302 1,394,004 819,'"' 331,110 7,038 235,974 868,642 1,199, 752 90, 771 11,892 972 Oct. 10.. 1,167, 923 776, 398 391,525 183,435 208,090 206, 774 158, 872 1, 407, 018 815,969 340, 449 9,844 240, 756 869,300 1,209,749 86, 813 14, 757 972 Dec. 31-. 1,191,491 783,062! 408,429 183,534 224,895 223,608 156,841 1, 456, 338 837, 111 338,815 8,718 271, 694 907,363 1, 246,178 95,336 10, 292 968 1928—Feb. 28.. 1,196, 758 787, 419 409,339 189,019 220,320 217,308 158,370 1,447, 630 814,687 355,464 5,219 272, 260 885,470 1, 240, 934 92,138 9,773 961 June 30-_ 1, 224, 395 788, 794 435, 601 193, 958 241,643 194,403 157, 315 1,438, 933 826, 745 372,402 8,531 231, 255 886,190 1,258, 592 94,149 19,468 945 Oct. 3... 1,241, 707 806,155 435, 552 206, 458 229,094 220, 264 161, 046 1,496,063 846,154 374,313 7,737 267,859 906, 882 1, 281,195 94, 286 20, 613 941 Dec. 31.. 1, 250,019 802, 632 447, 387 212, 331 235,056 224,876 160,297 1, 505,060 866,873 364,599 9,926 263,662 916,693 1,281,292 90, 950 22,443 932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DALLAS DISTRICT 1921—Dec. 31 711,182 593,536 117, 646 87, 667 29,979 84, 728 155,137 667, 712 476, 696 104, 835 8,325 77,856 474,536 579, 371 45, 305 69,883 851 1922—Mar. 10 700, 308 585,235 115,073 90,028 25, 045105, 033 158,491 688, 418 480, 355 109,919 10,206 87,938 486, 781 596, 700 46,261 49,856 854 June 30 706,745 587,036 119, 709 94,918 24, 791 99, 262 157,974 693,049 488,854 116, 888 4,976 82, 331 495,142 612, 030 46,605 45, 753 857 Dec. 29 749,295 609,481 139, 814 111, 502 28, 312130, 690 161,749 816,216 553,220 120,460 14, 648 127,888 573, 351 693, 811 54,457 20,000 855 tk 1923—Apr. 3... 769,406 619, 939 149,467 123, 063 26,404 108, 337 157,933 798,955 538, 639 133,776 20,228 106, 312 557, 673 691,449 51,077 26,335 855 June 30.. 745,119 601,128 143, 991 117,288 26,703 81,491 158,084 719,951 500, 307 136, 750 8,278 74, 616 505,926! 642, 676 48,288 47, 065 857 Sept. M.- 780,557 636, 701 143, 856 112, 706 31,150 129,188 159, 606 818,915 550,485 137,250 5,886 125,294 562,566) 699, 816 52, 759 54, 754 858 Dec. 31.. 810,155 648, 797 161, 358 126,154 35,204 162,898 155,715 947,461 623,728 143,250 12,182 168,301 659,117 802, 367 60, 602 12,121 849 1924—Mar. 31 776, 846 628, 944 147,902 114,436 33,466 119,535 157,950 836,043 555, 706 149,971 13,192 117,174 578, 018 727,989 52, 319 16,782 835 CO June 30 732, 301 596, 881 135,420 103, 975 31,445 105,145 156,502 768, 294 517,041 152,454 6,452 92, 347 524,251! 676, 705 49,293 24,316 837 Oct. 10 765,113 625,135 139,978 101, 834 38,144 198, 361 159,418 931, 725 590,447 154, 713 9,084 177, 481 608,091; 762,804 55,895 15,168 838 Dec. 31 789, 329 645,115 144,214 100,578 43, 636214, 390- 153,452 1, 004,243 637, 826 150,856 6,382 209,179 683, 038! 833,894 65,708 6,094 828 w 1925—Apr. 6__. 812,534 650, 719 161,815 120,284 41,531 179,811 160,130 966, 613 616, 774 163, 632 16,230 169,977 658,243 821,875 62.061 3,721 824 June 30. _ 790, 668 637,954 152,714 112, 608 40,106 133, 823' 159,968 883,042 588, 053 167, 305 8,598 119,086 601,105 768,410 57,174 12,684 847 H Sept. 28_. 821,844 664,145 157, 699 113,439 44,260 163, 817' 161,567 951,509 612,231 164, 640 13,917 160, 7211 642,249 806,889 59,010 15,' 854 Dec. 31.. 830,918 667,782 163,136] 114,026 49,110 152, 668 156, 760 980,534 649, 672 158, 382 14,065 158, 415 680,728 839,11< 66.062 5,878 852 w 1926—Apr. 12.. 831,859 667, 758 164,101 119,757 44, 344135, 343 165,120 929,171 623,112 169,465 12,496 124,098 636,496 805,961 58,172 12,220 850 June 30.. 807, 697 649,757 157,940 113, 323 44, 617121, 089 162, 495 871, 479 590, 335 163,897 7,372 109, 875 599, 064 762,961 57, 342 25, 359 843 Dec. 31.. 807,291 651,583 155,708 105,145 50, 563146,403 158,562 940, 370 631, 382 160, 377 8,571 140,040 641,913 802,290 64,423 9,721 827 1927—Mar. 23- 841, 697 668, 338 173, 359 123, 319 50, 040143, 791 162, 710 948, 345 624,466 175, 663 15,049 133,167 647, 887 823,550 62, 783 7,829 817 June 30.. 830, 856 654, 072 176, 784 121, 634 55,150 130, 524 161, 355 918,194 608,564 180, 830 10, 972 117, 828 623,023 803, 853 62,028 11,513 815 Oct. 10__. 876, 888 688,449 126,439 62, 000168,244 165,245 1, 024,493 663, 643 182, 373 15,823 162,654 689,988 872,361 65,538 8,725 816 Dec. 31-. 898,228 694, 344 203, 884 131,898 71,986 170, 732 160,040' 1,068,016 699,161 184, 032 13, 789 171,034 732,147 916,179 73,133 1,404 799 o 1928—Feb. 28.. 904,469 701,202 203,267 136,835 66,432 152,311 163,257! 1,027,194 683, 851 195,227 4,122 143,994 712,409 907, 636 67,861 4,156 794 W June 30-. 915, 653 691, 939 223, 714 149, 822 73,892 129,968 163,982 1,005,100 654,947 212,836 17,263' 120,054 665,916 878, 752 65,532 11, 480 791 Oct. 3___ 960,054 725, 485 234,569 156,541 78,028 161,291 166,562 1,081,380 695,270 214, 665 9,463 161,982 721, 625 936, 290 68,974 29,910 787 Dec. 31.. 993, 420 736, 396 257, 024 173,509 83,515 165, 301 162,510 1,154,849 743,439 222,906 22,190 166,314 762,961 985, 867 73, 685 11, 648 780 For footnotes, see p. 175. •3 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 92.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1921-1928—Continued 00 SAN FRANCISCO DISTRICT O5 [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Call date Total Loans l Total Inve s U e st c . m u S r e . i- nts s O ec th u e ri r - b f a D r n o u m k e s2 C s p u v u r a a r o i n p p d n f d i i l e d t t u i d s a - s l 3 , , de T p o (* o t ) s a i l ts D p e o d m ( s * e i - ) t a s n * d p T o d s i e m i - ts e 5 U S p n o t d a i s e t t - i e e ts s d b D a u n e k s t o <sd d e e N p m (* o e a ) s t n it d s d de e t p N p m i l m o e u a s t e s n it d s R e b s w r e F a e a s e i l n r e t d v r k h r - e e v s - e p c r a B o e a y u d i n a l n d i l b s s t l - s e N b b a e u n r m k o s - f ties ties (*) 1921—Dec. 31 1,945,470 l,452,507j 492,963 229,9591 263,004 186,231 284,002 2,033,522 1,020,398 808,361 15,092 189, 671.1,029, 005 1,837,366 122,678 87,617 837 1922—Mar. 10__ 1,937,309 1, 432,613' 504, 696 243,0071 261,689 195,201 287,605 2,023,635 983, 236 821,610 19,481 199,308 1,004,992 1,826, 602 118, 353 75,600 835 June 30__- 1,995, 347 1,474,013s 521, 334 ! 255,454 265,880 191,404 285.168 2,123,592 1, 037, 556 875,762 12,924 197,350!l,058,851 1,934, 613 122, 723 62, 479 842 Dec. 29... 2,127,852 1, 554, 357| 573,495 309, 218 264, 277 209,604 301,238 2, 314,436 1,134, 216 930,404 25,426 224, 390 1,150,211 2,080,615 135, 731 47,290 820 1923—Apr. 3_._ 2, 262, 529 1,661,246: 601,283 333, 722 267, 561 198,523 298,607 2,417,146 1,172,488 1i, 009,967 28,214 206,477 1,181,769 2,191,736 140, 735 66,497 806 June 30.. 2, 331,250 1,739,729i 591, 521 319,410 272, 111 186,8131 299,104 2,467,693 , 236, 709 1L,, 007,863 27, 270 195,8511,241,877 2,249,740 145,844 82,929 803 Sept. 14_. 2, 291,651 1, 731, 718| 559,933 301, 289 258,644 210,971 304,972 2,451, 5911, 243, 492 980,426 13, 313 214, 360 1,244,013 2, 224,439 147, 212 93,687 804 Dec. 31- 2, 247,952| 1"., 686,175 561,777j 289, 266 272, 511 206,645| 292,919 2,488, 5411,237,' , 58"0 1L, 032,364 22,007 196,5901,223,234 2, 255, 598 145, 714 47, 395 802 1924—Mar. 31.. 2, 317,292 1, 739, 615 577, 677 302, 675 275, 002 189,796 313,857 2,485,894 1,239, 279 1,024,132 25,643 196,84011,242,162 2, 266, 294 142,176 59,027 785 June 30. _ 2,296,"2 2•2 l1!, 721, 530 574, 692 276,105 213,363 312, 644 2,530,4—781 1, 209,388| 1,093,320 12, 243 215, 527 1, 217, 751 2,311,071 145,385 33, 220 776 Oct. 10.. 2,355,433 1,728,349 627,084 336, 531 290, 553 321,506 323,460 2, 710,6511, 266, 241|1,122,197 29,017 293,196 1,294, 598 2, 416,795 158,081 17,700 774 Dec. 31- 2,444,038 1,766,978 677,060 361,""" 315, 760 274, 380 318,247 2,789i, ,1"5"6 "1., 289, 381 1, 202,911 18,441 278,423 1,309,245 2,512,156 164, 529 18,818 766 1925—Apr. 6_... 2, 507, 708 1,815, 310 692, 398 372,486 319,912 226,571 320, 2, 760, 630 1, 249, 785 1, 246,185 29, 749 234,9111,267,396 2, 513,581 153,194 28,613 749 June 30. _. 2, 545,159 1,847,940! 697,219 374,161 323,058 223,855 321,813 2,804,682 1., 268, 694 1, 286,613 12, 225 237,150 1,276,642 2, 563,255 154, 521 39, 511 751 Sept. 28.. 2, 607, 781 1,886, 381 721,400 390,497 330,903 240,799 324,441 2,851,559 1,,226699',,390)1,307,324 26,407 248,4381 ' 2, 606, 208 156,641 57,972 749 Dec. 31... 2,668, 5721,936,858 731,714;} 386, 395 345,319 246,305 319, 792 3, 006i,, 607 1, 366,876 1, 342,867 34,005 262,859 1,365', 162J 2, 708,029 168,461 26, 959 740 1926—Apr. 12__ 2,677, 238 1,939,856 737,382'I 383, 784 353, 598226, 665 320, 376 2, 944,974 1,, 300, 755 1,, 367,987 34, 676 241,556 1,,320,467 2,688,454 156.830 46,473 724 June 30— 2,687, 583!l,951,713 735,870! 377,996 357,874 232, 588 324, 646 2, 977,7611, 302, 567 l.!, 392, 225 262,061 1, ,327, 266 2,719,491 162,902 38,139 725 Dec. 31 — 2,842,494 2,066,559 775,935| 367,400 408, 535245,121 337,894 3,169,4151,379,6811,482,196 20, 636 286,9021, 391, 564 2,873, 760 167,180 41,969 721 1927—Mar. 23.. 2, 938, 3752,118,265 820, HOj 400,119 419,991 210,075 352,694 3,157,, 199 1i,, 296,034 1, 574,727 43,816 242,622 1,311,191 2,885,918 176,406 58,287 682 June 30- 2,960,511 2,133,903 826,608: 406,685 419,923 230,367 352, 233 3,236,603 1L., 359,714 1, 584.708 29,325 262,85611,372,810 2,957, 518 164,024 40,650 672 Oct. 10... 2,987,169 2,123, 672 863,497 430, 249 433,248| 245,597 365, 257 3,259i,, 281 1L, 378,16011,582,871 35, 729 262,5211,400,997 2,983,868 167,490! 51,974 669 Dec. 31 __ 3,083,880 1J21)4 104,08;42 943,038 i 486,094 456,944 264,224 368,477 3, 398!,, 959 i1;,431, 61911, 652, 980 28,478 285,8821,449,321 3,102, 301 188.0831 7,111 658 1928—Feb. 28,. 3,064,101 2,079,156 984,945 1 521,495 463,450 237,807 360,021 3, 266,1861, 375, 602! 1,619,138 10, 356 261,0901,394,392 3,013,530 171,724 57,100 649 June 30.. 3,149, 0812,143, 756 1,005, 325 ! 515,092 490,233 232,181 410,852 3,411, 7611,394,2501,711,891 53,130 252,4901,420,733 3,132, 624 180,625 19,416 641 Oct. 3... 3, 200, 375 2,165,3401,035,035! 535, 558 499,477 253,477 417, 606 3,411,2041",440,8651,688,837 21,183 260,3191,440,113 3,128,950 183, 393: 77,099 644 Dec. 31. _ 3,168, 538 2,108,7431,059,795! 574,015 409.169 3,454,6111.,453,096.1,695,404 51,916 254,195.1,419,429 3,114,833 182, 556 38, 973 627 For footnotes, see p. 175. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
187 ALL MEMBER BANKS IN EACH DISTRICT No. 93.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY MONTHS, 1928 [In millions of dollars] Net Net Net de t p m i l m u a e s n d | d d e e N p m o e a s t n it d s de T p i o m s e its L t p e i m l m u a e s nd d de e N p m o e a s t n it d s Time de t p m i l m u a e s nd d de e N p m o e a s t n it d s de T p i o m s e its Date deposits} deposits deposits Boston district New York district Philadelphia district 1928 Jan. 11 2,459 1,483 975 10,155 7,225 2,930 2,306 1,246 1,061 Feb. 8 2,403 1,428 976 9,933 6,964 2,969 2,269 1,200 1,069 Mar. 7 2,395 1,407 988 9,942 7,003 2,939 2,262 1,194 1,068 Apr. 11 2,473 1,471 1,002 10,181 7,158 3,023 2,291 1,216 1,074 May9 2,446 1,438 1,008 10, 246 7,161 3,085 2,295 1,207 1,088 June 13 2,421 1,422 999 10,096 7,020 3,075 2,302 1,195 1,107 July 11- 2,410 1,412 998 9,852 6,782 3,070 2,276 1,177 1,100 Aug. 8 2,375 1,384 991 9,582 6,497 3,085 2,233 1,138 1,095 Sept. 12 2,384 1,404 980 9,736 6,648 2,252 1,161 1,091 Oct. 10 2,389 1,415 974 9,718 6,597 3,121 2,247 1,154 1,093 Nov. 7 2,415 1,447 968 9,866 6,709 3,157 2,267 1,170 1,097 Dec. 12 2,369 1,409 960 9,953 6,836 3.118 2,246 1,170 1,076 Cleveland district Richmond district Atlanta district [ Jan. 11.. 3,111 1,555 1,556 1,247 645 602 1,100 635 465 Feb. 8... 3,151 1,559 1,592 1,230 632 598 L, 087 625 461 Mar. 7__ 3,150 1,529 1,621 1,216 614 602 1,087 621 466 Apr. 11_. 3,157 1,531 1,626 1,213 i 611 602 L, 080 612 467 May 9_. 3,177 1,535 1,642 1,202 597 605 1,079 607 472 June 13 _. 3,168 1,534 1,634 1,204 597 607 L, 069 597 472 July 11.. 3.173 1,518 1,655 1,183 i 582 601 1,053 578 475 Aug. 8__. 3,158 1,513 1,644 1,165 i 566 599 1,028 557 472 Sept. 12.. 3,167 1,531 1,636 1,170 575 595 L, 017 551 467 Oct. 10.. 3,173 1,534 1, 639 1,192 592 600 1,030 561 469 Nov. 7__ 3,152 1,506 1,646 1,202 605 597 1,036 570 467 Dec. 12.. 3,142 1,509 1,633 1,205 616 589 1,057 594 463 i Chicago district St. Louis district Minneapolis district Jan. 11.. 4,808 2,663 2,145 1,304 778 527 909 454 455 Feb. 8... 4,724 2,571 2,153 L, 303 764 539 906 443 462 Mar. 7... 4,780 2,608 2,171 L, 284 742 542 920 462 458 Apr. 11.. 4,845 2,625 2,220 1,291 747 544 915 452 463 May 9__ 4,896 2,645 2,251 1,285 741 545" 904 438 465 June 13.. 4,964 2,685 2,279 1,264 723 541 919 454 465 July 11- 4,889 2,641 2,248 1,255 714 541 906 445 461 Aug. 8__ 4,820 2,589 2,230 1,237 695 542 882 424 458 Sept. 12. 4,899 2,660 2,240 1,235 695 540 911 ; 445 466 Oct. 10.. 4,919 2,655 2,264 1,266 721 545 945 473 471 Nov. 7_. 4,925 2,661 2,264 1,267 722 545 974 499 475 Dec. 12.. 4,941 2,680 2,261 1,282 749 533 949 474 476 Kansas City district Dallas district San Francisco district Jan. 11. _ 1,242 894 347 910 720 189 3,096 1,421 1,675 Feb. 8... 1,244 891 353 932 736 196 2,969 1,348 1,621 Mar. 7.. 1,259 899 360 904 710 194 2,968 1,317 1,651 Apr. 11.. 1,254 886 368 QOO 199 3,062 1,393 1,669 May9__ 1,244 874 370 892 689 203 3,068 1,382 1,686 June 13.. 1,231 860 371 S67 665 203 3,109 1,419 1,690 July 11.. 1,255 883 372 885 669 216 3,074 1,388 1,686 Aug. 8__ 1,264 892 372 869 657 212 3,038 1,360 1,678 Sept. 12. 1,265 892 372 903 692 211 3,121 1,438 1,683 Oct. 10.. 1,281 905 375 946 731 215 3,137 1,442 1,695 Nov. 7.. 1,272 896 376 963 748 215 3,176 1,472 1,704 Dec. 12.. 1,276 904 372 975 760 215 3,183 1,460 1,722 Back figures.—See Annual Report for 1927 (Table 87). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
188 AJSTNUAX. REPORT OF THE FEDERAL RESERVE BOA.RD No. 94.—ALL MEMBER BANKS—DEPOSITS, BY SIZE OF CITY, 1928 [In millions of dollars. For back figures see Annual Report for 1927 (Table 88).] Net demand plus time deposits Net demand deposits Time deposits Federal reserve district and date Un- 5,000 15,000 100,000 Un- 5,000 15,000 100,000 Un- 5,000 15,000 100,000 der to to and der to to and der to to and 5,000 15,000100,000 over 5,000 15,000100,000 over 5,000 15,000100,000 over Boston: Jan 11 122 175 437 1,724 49 79 218 1,137 73 96 219 588 Feb. 8 121 174 425 1,683 47 77 208 1,096 74 98 217 587 Mar. 7. 121 172 426 1,677 46 73 205 1,083 74 99 220 594 Apr. 11 121 176 434 1,742 46 76 211 1,138 75 100 223 605 May 9 122 176 434 1,714 47 76 209 1,106 75 100 225 608 June 13 121 177 439 1,684 46 77 214 1,084 75 100 225 600 July 11 124 178 436 1,671 49 78 210 1,074 75 100 226 597 Aug. 8 127 178 434 1,636 52 77 208 1,047 75 101 226 589 Sept. 12 _- 131 180 422 1,651 55 81 205 1,064 76 100 217 587 Oct. 10 131 185 420 1,652 54 83 202 1,076 77 102 218 577 Nov. 7 129 187 428 1,672 52 84 208 1,102 77 103 219 570 Dec 12 127 183 420 1,640 50 81 205 1,073 77 101 215 567 New York: Jan.11 604 331 877 8,342 211 130 344 6,540 393 202 533 1,802 Feb. 8 607 330 863 8,133 210 127 324 6,303 397 203 539 1,830 Mar. 7 606 330 863 8,143 207 124 319 6,353 400 206 544 1,790 Apr. 11 , 617 335 877 8,352 211 129 327 6,491 406 206 550 1,861 May 9 619 339 881 8,407 213 132 332 6,485 406 207 549 1,923 June 13 _. . 627 343 892 8,235 221 135 336 6,328 405 208 556 1,906 July 11 638 343 888 7,982 228 133 333 6,089 411 210 555 1,893 Aug. 8 648 346 884 7,704 232 136 320 5,809 416 210 564 1,896 Sept. 12 652 346 890 7,847 234 135 329 5,950 418 212 561 1,898 Oct. 10 659 345 891 7,822 234 132 325 5,906 425 213 566 1,916 Nov. 7 660 347 900 7,959 231 131 333 6,014 429 216 567 1,945 Dec. 12 649 347 900 8,058 225 135 340 6,136 423 212 560 1,922 Philadelphia: Jan. 11 440 223 434 1,209 145 74 159 868 295 149 276 341 Feb. 8 438 223 429 1,179 141 73 150 837 297 150 279 343 Mar. 7 439 224 430 1,169 140 73 152 830 300 151 278 339 Apr. 11 441 226 436 1,188 141 74 156 845 300 151 279 343 May 9- _ 440 225 437 1,192 139 74 155 839 301 152 282 353 June 13 443 226 436 1,197 142 74 155 824 301 152 281 373 July 11 443 227 434 1,174 140 74 154 808 303 153 279 365 Aug. 8 445 225 433 1,130 141 73 154 771 303 152 279 360 Sept 12 454 229 438 1,131 149 76 158 777 305 153 280 353 Oct. 10 464 233 438 1,113 152 78 156 769 312 155 282 344 Nov. 7 461 235 440 1,132 148 79 158 785 312 156 282 347 Dec 12 454 231 488 1,122 148 78 162 782 307 153 277 340 Cleveland: Jan. 11 356 294 443 2,018 140 129 202 1,084 216 165 241 934 Feb. 8 358 300 440 2,053 141 133 196 1,089 217 167 244 964 Mar. 7 357 297 438 2,058 140 129 193 1,067 217 168 245 992 \pr. 11. 351 291 434 2,080 135 124 192 1,079 216 168 242 1,000 May 9 3S0 293 437 2,097 134 125 192 1,083 216 169 244 1,014 June 13 346 291 441 2,090 132 122 197 1,083 215 169 244 1,007 July 11 348 295 441 2,089 134 125 197 1,062 214 169 244 1,027 Aug. 8 349 293 439 2,077 135 127 194 1,057 214 166 245 1,020 Sept. 12... 351 294 447 2,076 137 126 200 1,068 214 168 246 1,008 Oct. 10 . 357 297 452 2,067 139 126 199 1,070 218 171 254 997 Nov. 7 355 295 448 2,054 136 123 194 1,053 219 172 255 1,001 Dec. 12 353 295 448 2,046 135 125 196 1,052 218 169 252 994 Richmond: Jan. 11 252 174 351 470 98 73 181 292 154 100 170 178 Feb 8 255 170 346 459 100 70 178 285 155 101 169 174 Mar. 7 250 171 342 454 95 69 173 277 155 102 169 177 Apr 11 247 169 346 452 92 68 176 274 155 101 169 177 May 9 242 168 340 451 89 67 168 273 154 101 172 178 June 13 242 169 342 451 87 67 170 273 155 103 172 178 July 11 241 167 331 444 87 65 161 269 154 102 170 175 Aug. 8 _ _ 239 162 319 444 86 61 153 266 154 101 166 178 Sept. 12 239 163 322 445 86 62 157 269 153 101 165 176 Oct. 10 247 169 327 449 93 67 160 272 154 102 167 177 Nov. 7 . 249 172 333 447 95 71 167 273 155 102 166 175 Dec 12 248 171 339 447 95 70 174 278 153 101 165 170 Atlanta: Jan.11 152 148 390 409 87 79 209 259 65 69 182 150 Feb. 8 154 150 384 400 88 80 205 253 66 70 179 146 Mar. 7 155 150 390 393 88 79 207 246 67 70 183 146 Apr. 11 _. 154 149 393 384 86 77 208 241 68 72 184 143 May 9 150 146 394 I 389 83 74 207 243 67 72 187 146 June 13 145 144 391 388 78 72 206 241 68 72 185 148 July 11 142 141 382 388 74 70 197 237 68 71 185 151 Aug. 8 _ 138 138 372 380 71 66 189 231 67 72 182 150 Sept. 12 136 137 370 374 69 65 188 228 67 71 182 146 Oct. 10 140 140 367 383 72 68 187 233 68 72 180 149 Nov. 7 146 140 366 385 77 68 189 235 68 72 177 150 Dec. 12 146 141 365 404 78 70 194 252 68 71 172 152 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS IN EACH DISTRICT 189 No. 94.—ALL MEMBER BANKS—DEPOSITS, BY SIZE OF CITY, 1928—Con. [In millions of dollars. For back figuress ee Annual Report for 1927 (Table 88).] Net demand plus time deposits Net demand deposits Time deposits Federal reserve district and date Un- 5,000 15,000 100,000 Un- 5,000 15,000 100,000 Un- 5,000 15,000 100,000 der to to and der to to and der to to and 5,000 15,000 100,000 over 5,000 15,000100,000 over 5,000 15,000100,000 over Chicago: Jan. 11 439 323 857 3,188 182 135 410 1,936 257 188 448 1,252 Feb. 8 443 318 856 3,107 186 131 407 •1, 847 256 188 449 1,261 Mar. 7 450 321 864 3,144 195 134 413 1,866 255 187 451 1,278 Apr. 11_— 451 324 885 3,185 193 136 429 1,867 258 188 457 1,318 May 9 455 326 3,226 197 138 425 1,885 258 188 464 1,341 June 13 452 327 3,288 192 138 434 1,921 260 189 464 1,366 July 11 454 328 903 3,205 192 138 433 1,879 262 190 470 1,326 Aug. 8 450 328 892 3,150 188 137 419 1,845 261 191 473 1,306 Sept. 12__. 452 331 903 3,214 190 138 430 1,901 262 192 473 1,313 Oct. 10 457 332 910 3,220 191 138 432 1,894 266 195 478 1,326 Nov. 7.... 455 332 908 3,231 188 136 427 1,909 267 195 481 1,322 Dec. 12..._ 900 3,265 182 133 426 1,939 266 195 474 1,325 St. Louis: Jan. 11 198 132 191 784 105 73 104 496 92 59 87 Feb. 8 198 133 190 782 104 73 101 485 94 60 297 Mar. 7_._- 196 134 187 765 103 74 98 467 94 60 298 Apr. 11.... 196 135 186 774 102 74 97 474 94 60 300 May 9 197 136 190 763 103 75 100 463 94 61 300 June 13-_- 196 134 190 743 102 73 101 446 94 61 89 297 July 11.... 196 133 189 737 101 72 101 440 95 61 297 Aug. 8_... 193 130 187 727 68 429 95 62 298 Sept. 12... 193 129 183 730 67 434 95 62 296 Oct. 10.... 200 133 186 747 103 70 . 450 96 63 297 Nov. 7 201 134 187 745 104 72 447 97 63 297 Dec. 12.... 202 135 195 751 104 73 106 466 62 285 Minneapolis: Jan. 11...- 257 161 294 105 184 152 112 111 Feb. 8 255 196 162 293 102 83 180 153 113 113 Mar. 7 258 199 165 295 105 86 190 153 113 108 Apr. ll.___ 257 199 165 294 103 84 185 154 116 109 May 9 258 199 164 283 103 83 176 155 116 107 June 13 259 201 173 286 104 85 182 155 116 104 July 11 257 200 170 279 102 84 176 155 116 103 Aug. 8 254 199 161 268 99 84 165 155 116 103 Sept. 12-.. 258 201 172 280 104 85 175 154 117 104 Oct. 10 267 208 176 294 112 90 187 155 118 107 Nov. 7 268 211 182 312 113 92 204 155 119 109 Dec. 12.... 262 209 181 108 90 154 119 110 Kansas City: Jan. 11____ 310 191 332 410 214 127 238 315 96 64 94 Feb. 8 309 185 331 419 211 121 236 323 64 96 Mar. 7 313 186 337 422 213 121 240 325 65 98 Apr. 11 300 186 352 416 201 122 244 318 64 108 97 May 9 299 186 344 416 200 121 235 319 99 65 109 97 June 13-__ 294 184 345 408 194 119 235 311 99 65 110 97 July 11.... 305 186 351 413 204 121 242 316 101 65 109 97 Aug. 8___. 311 186 351 416 210 120 242 320 101 66 109 97 Sept. 12... 310 189 353 413 209 124 244 315 100 65 109 Oct. 10-.- 319 191 356 414 218 126 245 316 101 65 111 Nov. 7 319 191 350 412 218 126 240 312 101 110 100 Dec. 12.... 315 188 358 415 217 123 249 316 99 109 Dallas: Jan. 11 237 143 196 335 217 112 137 254 19 58 81 Feb. 8 243 147 199 343 222 115 139 260 21 60 83 Mar. 7__._ 232 140 194 338 211 107 137 255 21 57 83 Apr. 11.... 214 138 195 337 196 106 136 251 21 60 86 May 9 219 139 195 339 198 106 134 252 22 61 87 June 13 208 137 192 330 186 104 132 243 22 61 87 July 11.... 209 138 194 343 187 105 133 244 22 61 100 Aug. 1 211 136 189 333 189 103 128 237 22 61 96 Sept. 12... 222 139 194 348 201 105 132 254 22 62 94 Oct. 10 244 148 197 357 222 113 135 260 22 62 97 Nov. 7.... 259 151 201 353 238 116 137 257 21 63 96 Dec. 12____ 258 150 204 364 237 116 141 21 63 97 San Francisco: Jan. 11 268 148 255 2,426 155 84 156 1,027 113 99 1,399 Feb. 8 262 142 249 2,316 149 79 149 971 114 99 1,345 Mar. 7__._ 262 140 245 2,321 147 78 145 947 114 100 1,374 Apr. 11.... 262 143 246 2,411 149 80 147 1,017 114 99 1,394 May 9 263 140 253 2,412 150 79 151 1,002 113 102 1,410 June 13.... 267 141 256 2,445 152 81 154 1,032 114 102 1,413 July 11 264 141 258 2,411 150 80 152 1,006 114 105 1,405 Aug. 8 267 140 253 2,378 151 79 148 983 116 105 1,395 Sept. 12... 276 144 260 2,441 160 155 1,039 116 104 1,401 Oct. 10 283 149 264 2,441 166 158 1,033 117 107 1,408 Nov. 7__._ 288 151 270 2,466 170 162 1,052 119 108 1,414 Dec. 12.... 278 145 276 2,484 159 84 167 1,051 119 61 109 1,433 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
190 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 95.—ALL MEMBER BANKS—RESERVE BALANCES, BY MONTHS, 1927-1928 [Monthly averages of daily figures. In millions of dollars] Federal Reserve District Month New Phila- Cleve- Rich- At- Chi- St. Min- Kan- San Boston York p d h el i - a land mond lanta cago Louis n o e l a i p s - C sa it s y Dallas F c r is a c n o - 1927 January 864.3 139.0 178.6 70.1 70.5 324.6 81.4 50.6 88.9 60.7 168.1 February.. 144.5 838. 3 136.7 179.9 69.4 69.8 324.6 81.2 49.2 89.1 62.4 167.1 March 144.1 856.6 136.9 185.7 68.9 69.5 325.1 81.4 50.3 89.6 62.2 169.7 April 145.6 863.3 137.4 184.7 68.3 69.4 328.0 81.6 48.9 89.0 60.9 171.3 May 146.2 875.3 136.1 185.2 68.8 68.4 335.1 81.1 47.7 87.4 59.7 171.3 June 147.9 913.3 135.8 187.2 69.5 67.1 334.5 80.8 48.5 87.2 58.5 170.5 July..... 151.1 894.8 136.4 187.1 71.6 66.7 333.9 81.0 49.1 88.8 58.8 169.6 August.. 150.2 880.9 136.8 189.3 72.0 65.6 341.2 80.0 48.3 89.9 58.3 170.5 September. 151.0 888.7 138.6 187.4 72.1 67.6 339.7 80.1 51.0 88.9 61.7 173.8 October 155.0 895.9 139.4 187.4 71.8 68.5 343.0 82.5 54.0 88.8 64.8 174.9 November.. 157.4 922.5 139.8 188.5 74.1 68.6 342.5 85.3 56.3 91.0 67.7 179. 3 December.. 155.1 944.9 138.7 186.3 73.5 69.3 347.2 86.3 55.2 91.3 69.0 182.3 Pi 1928 January 155.9 957.9 141.7 188.9 73.8 70.7 352.1 86.1 53.3 92.1 68.8 185. 2 February. _ 151.0 924.4 138.5 188.1 72.4 70.0 345.8 85.0 53.1 92.4 69.3 178.2 March 151.2 931.6 138.6 186.0 70.6 69.4 345.7 82.8 53.9 92.4 67.1 175. 8 April 156.3 955.5 139.3 186.7 69.9 69.1 348.1 82.5 52.4 91.9 65.4 179.5 May 153.6 946.8 138. 5 188.7 69.0 68.3 353.2 82.3 51.6 90.6 64.9 180.3 June 149.3 925.9 136.2 185.9 68.5 66.6 352.0 80.3 52.9 90.3 64.1 182.5 July 149.9 902.4 134.7 186.8 67.2 64.7 351.0 79.7 52.0 91.7 63.7 179.9 August.. 147.1 872.0 132.0 185.8 66.2 63.7 344.8 78.5 50.7 92.4 62.5 178.2 September.. 149.6 883.2 134.9 190.3 67.6 62.7 352.3 80.1 53.0 92.8 65.5 182.4 October 152.5 889.7 134.8 187.8 68.3 63.4 353.3 80.5 55.1 92.5 68.9 185.2 November.. 152.0 903.4 134.4 185.4 69.1 64.8 354.0 81.5 56.1 93.0 71.4 187.3 December- 148.6 923.4 134.5 183.4 69.6 67.5 353.0 83.4 55.1 93.0 72.2 183.2 Back figures.—See Annual Report for 1927 (Table i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
191 ALL MEMBER BANKS IN EACH DISTRICT No. 96.—ALL MEMBER BANKS—BORROWINGS 1 AT FEDERAL RESERVE BANKS, BY MONTHS, 1927-1928 [Monthly averages of daily figures. In millions of dollars] Federal Reserve District Month oston Y N o e r w k P p d h h e i i l l a - a- C l l a e n v d e- m Ri o c n h d - la A n t t - a c C a h g i o - L S ou t. is n M o e l a i i n p s - - K C s a a it s n y - Dallas F c S i r s a a c n n o - 1927 January 33.4 118.3 43.7 61.5 22.5 34.2 90.2 19.1 4.1 10.4 5.4 37.8 February 29.0 91.2 35.7 38.9 23.4 26.8 78.5 14.6 4.0 9.3 3.1 38.6 March 35.8 112.2 41.0 31.7 22.1 31.7 71.1 14.4 4.5 8.6 3.2 48.3 April 23.2 121.6 43.7 53.9 22.5 34.1 56.3 16.2 6.1 11.9 4.4 53.3 May.. _.. 37.1 137.8 45.8 43.6 25.5 34.6 52.7 24.0 6.7 17.3 4.7 43.1 June 33.8 91.9 45.2 41.8 22.4 32.6 63.9 26.3 6.5 16.5 6.2 41.4 July 29.7 122.9 46.8 35.4 21.8 36.3 59.7 29.8 6.0 12.5 7.4 45.8 August 29.9 118.4 39.6 27.8 19.7 34.7 40.5 24.7 6.1 9.3 12.7 46.1 September 28.4 142.4 38.2 34.8 26.3 31.1 31.4 28.0 4.4 10.7 11.0 35.6 October 33.3 126.9 38.4 43.7 28.9 26.0 36.5 21.5 2.7 15.7 7.2 43.7 November 36.4 106.5 38.1 46.8 21.5 32.7 46.9 18.1 2.6 18.1 8.4 39.1 December 40.2 171.1 47.9 58.6 24.4 36.1 65.0 19.3 3.0 15.2 5.4 42.4 1928 January 23.5 152.9 44.4 51.0 26.9 29.3 59.0 16.6 3.7 12.7 4.3 41.0 February 45.2 119.3 53.1 50.8 27.3 28.3 50.9 24.0 4.0 11.4 4.1 52.3 March 49.5 130.0 49.2 57.0 27.8 25.2 67.9 26.1 3.3 10.5 3.8 63.1 April 44.4 210.9 52.7 60.8 34.6 38.9 87.6 33.1 10.1 18.8 8.0 61.3 May 59.6 296.9 60.4 68.4 43.0 51.9 109.5 39.0 10.6 22.9 9.0 64.3 June 84.8 376.1 80.2 89.3 48.0 59.8 136.1 52.9 8.5 22.4 11.3 49.4 July.__ 68.0 382.6 93.8 100.8 54.9 68.5 156.7 55.1 12.2 23.9 16.7 56.5 August 61.1 321.3 99.1 80.1 56.6 76.8 159.4 58.8 18.5 22.7 29.8 76.7 September 50.9 352.3 106.5 77.8 57.2 82.9 113.8 65.0 17.8 24.0 29.6 86.5 October 45.9 300.7 93.7 75.5 47.8 79.4 134.1 49.8 18.1 31.3 25.3 73.5 November 50.6 238.1 79.3 85.6 42.5 68.7 138.8 43.9 16.0 43.1 21.3 69.6 December 65.0 298.7 91.3 108.0 40.8 57.8 178.9 39.6 10.4 44.2 17.9 60.3 i Includes small amounts of borrowing by intermediate credit banks; see Table 101. Back figures.—See Annual Report for 1927 (Tables 90 and 55). No. 97.—NUMBER OP MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RESERVE BANKS, BY FEDERAL RESERVE DISTRICTS, 1923-1928 District 1923 1924 1925 1926 1927 1928 Boston _.. 313 317 297 286 261 265 New York 590 593 600 603 602 623 Philadelphia.. 532 525 450 558 552 562 Cleveland 470 485 483 466 430 421 Richmond— 453 463 428 430 383 386 Atlanta 351 390 320 333 300 315 Chicago 973 922 825 814 746 685 St. Louis--... 362 391 339 330 309 292 Minneapolis- 559 476 290 270 275 224 Kansas City.. 653 586 410 453 377 381 Dallas.- 617 492 361 453 318 296 San Francisco. 460 420 380 347 316 268 Total--. 6,333 6,060 5,183 5,343 4,869 4,718 Back figures.—See Annual Reports for 1922 (Table 48), 1919 (Table 39), 1916 (p. 93), and 1915 (p. 71). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
192 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD CONDITION OF ALL MEMBER BANKS, BY STATES No. 98.—ALL MEMBER BANKS—TOTAL LOANS AND INVESTMENTS,1 BY STATES, 1926-1928 [In millions of dollars] 1926 1927 1928 State June 30 Dec. 31Mar. 23 June 30 Oct. 10 Dec. 31 Feb. 28 June 30 Oct. 3 Dec. 31 United States.__31,183. 6 31,641.7 31,949.0 32,756.5 33,185.8 34, 246. 9 33, 688.4 35, 061. 2 34, 929. 0 35, 683.9 New England: Maine 164.1 174.7 180.2 184.7 168.2 167.5 170.0 154.1 151.1 New Hampshire- 66.4 66.8 68.0 68.0 69.0 69.2 69.2 71.5 73.9 73.4 Vermont 59. 61.7 61.9 63.6 65.0 65. 65.5 68.2 69.2 70.7 Massachusetts. . 1, 612.3 1, 602.8 1, 595.0 1, 662.4 1, 704.4 1, 700.5 1,681.9 1, 738.6 ., 706.5 1,686.3 Rhode Island... 306.8 316.1 321.4 326.0 329.9 333.5 336.3 335.6 330.4 335.0 Connecticut 254.6 264.9 271.9 293.8 303.7 306.0 304.7 321.1 317.0 318.7 Middle Atlantic: New York... 8,220. 5 8,512.5 8,430.9 8,923.1 8,897.2 9,673.9 9,171.5 9,768. Oj 9,492.6 10>,, 238. 2 New Jersey 1, 277.0 1, 347.3 1,356.8! 1,392.7 1.430.8 1,472.2] 1,453.3 1,528.4! 1, 531.4 1, 548.6 Pennsylvania.._ 3, 342.2 3,398.9 3,502.4| 3,486.1 3, 538. 63,554.8 3,560.8 3,693.0! 3!., 682.0 3,651.5 East North Central: Ohio 1, 813.3 1, 780. 61,810.0! 1,868.8 1, 926.5 1,872.1 1, 903. 61,946.3 1,970.2 1,949. 0 Indiana 399.3 394.4 385.2| 400. 5 401.1 409.3 401.6 422.0 429.7 436.0 Illinois.-. 2,389.9 2,383.9 2,421.1 2,493.5 2, 535.8 2, 630. 52, 617.7 2,762.5 2,759.2 2, 776. 2 Michigan 1, 302. 71, 305.0 1,313.6! 1,358.4 1, 348.0 1,350.7 1, 356. 51,459.2 1,461.4 1, 472.3 Wisconsin 459.8 456.1 466. 6i 466.1 462.6 468.8 478.0 490.2! 496.1 494.6 West North Central: Minnesota 522.0 516.9j 515.9: 509.5 532.3 541.1 540.1 535.9 542.9 537.5 Iowa _. 387.9 359.0 362. 7i 357.8 362.4 361.0 363.8 359.4 369.4 363.8 Missouri 890.3 871.8 893. 2i 898.0 899.0 917.8 913.8 922. 2i 915.6 916.4 North Dakota. _ 80.7 75.0 74.9| 72.6 74.6 74.9 73.7 73.8| 73.4 75.1 South Dakota 67.5 60.3 59.61 59.6 62.3 63.1 63.8 66.8 69.1 68.4 Nebraska 178.9 172.0 173. lj 167.2 173.3 176.4 181.1 183.2 188.7 190.8 Kansas. 188.6 189.6 191.6! 194.2 194.2 199.4 198.2 204.3 210.1 209.3 South Atlantic: Delaware. 54.1 56.9 61.0' 62.7 64.2 64.5 65.7 69.5 75.7 85.9 Maryland 300.7 303.2 311.3; 313.4 333.6 328.5 314.3 308.3 316.4 312.8 Dist.of Columbia 117.5 117.3 122.4! 125.3 126.2 122.1 128.0 130.4 127.6 129.2 Virginia 374.5 374.2 375.71 382.1 393.6 400.8 394.1 392.4 391.5 397.4 West Virginia... 196.8 198.4 198.9 202.9 202.1 201.2 197.6 200. 2 198.3 200.7 North Carolina- 211.5 202.2 203.1 208.7 220.4 222.7 223.5 227.1 227.6 222.2 South Carolina- 114.8 112.4 110. 5i 113.0 116.2 121.1 118.5 121.41 112.8 112.1 Georgia 251.3 244.6 249.21 252.4 266.8 257.1 255.7 262.5 260.4 Florida 275.8 258.2 255.9 238.3 228.7 222.5 220.9 220.4j 204.9 203.1 East South Central: Kentucky 283.2 290.7 298.1 304.9 314.5 317. l| 316.8 318.5 332.4 342.2 Tennessee 252.2 253.7 251.1 253.4 260.3 270.8! 270.8 271.6 271.9 274.5 Alabama- 194.4 196.3 194.81 197.1 207.6 212. 7! 209.0 218.3 225.8 231.7 Mississippi 82.0 79.1 82.4 75.0 77.8 77.9! 79.2 79.2 80.2 77.6 West South Central: Arkansas 127.9 118.3 114.3 116. 5 120.5 120. 5 122.0 125.0 129.6 126.2 Louisiana 264.2 273.4 264.5! 260.7 262.8 273. 2] 250.4 261.8 287.2 287.8 Oklahoma 299.8 291.3 304.9 305.4 307.8 313. 5l 312.1 328.4 330.5 337.2 Texas 741.5 741.2 778.0 767. 5| 811.2 830.1 838.5 848.1 889.3 917.7 Mountain: Montana _. 90.9 94.1 93.5 93.6 98.2 105.8 107.4 117.4 126.2 Idaho _ 51.6 54.2 52.4 51.2 51.4 52.1 52.8 54.0 54.0 Wyoming 32.7 34.3 32.7 33.2 32.9 34.6 34.6 35.7 37.7 Colorado 216.6 222.7 226.4 215.8 225.1 226.9 224.0 230.1 228.2 New Mexico 21. 23.4 23.5 23.7 24.0 27.9 28.1 28.4 30.9 Arizona 30.0 29.9 30.9 32.7 32.7 38.2 41.4 40.5 43.7 Utah. 79.1 79.4 78.0 75.5 76.7 81. 82.5! 83.9 87.0 Nevada 15.0 15.4 14.9 15.3 15.6 15.3 16.6 16.5 17.0 Pacific: Washington 278.0 275.1 281.5 282.8 299.3 296.6 314.9 316.1 319.5 Oregon 198.0 198.3 194.2 196.1 202.0 203.0 206.7 210.9 209.9 California 2,043. 7 2,197. 7 2,294.0 2,315.0 2.317.9 2,386.4 2,444.7 ,488. 6 2,448.8 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. Back figures.—See Annual Report for 1927 (Table 91). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS, BY STATES 193 No. 99.—ALL MEMBER BANKS—TOTAL LOANS,1 BY STATES, 1926-1928 [In millions of dollars] 1926 1927 1928 State June 30 Dec. 31 Mar. 23 June 30 Oct. 10 Dec. 31 Feb. 28 June 30 Oct. 3 Dec. 31 United States— 22,060. 2 22, 652. 0 22,327. 0 22,938.2 23, 226. 5 23,886. 4 23,098.9 24,302.8 24,325.0 25,155. 3 New England: Maine. 91.4 93.1 95.9 97.3 85.9 87.0 91.3 83.3 80.8 New Hampshire 39.4 39. 40.6 40.7 41.2 40.8 40.3 42.6 44.2 44.2 Vermont 34.6 35. 35. 37.4 ^37... 7. 37.7 36.6 39.4 40.5 41.7 Massachusetts __ 1, 202. 4 1, 203.0 1,173. 5 1,208.91 1,237.9 1,228. 6 1, 208. 51,291.1 1, 253. 5 1,265.9 Rhode Island.__ 181.2 183.5 185.6 185.8| 188. 2 187.6 186.8 189.4 191.5 193.5 Connecticut 176.6 185.4 190.4 208. 4 216. 5 218.6 216.6 232.7 232.6 237.7 Middle Atlantic: New York 5, 739. 0 6,137. 5,881. 3 6,277.5! 6,342.4 6,984.6 6,378.6 6, 914.1 6, 726. 3 7, 511. 7 New Jersey 795.9 864.5 860.0 888.6! 905.4 947. 3 i 930.0 985.0 1, 002. 6 1,030. 5 Pennsylvania. __ 2,046.0 2,100.4 2,095. 0 2,083.6 2,092.1 2,070.0; 2,068.4 2,207. 3 2,222.1 2, 242. 6 East North Central: Ohio.... 1, 363. 51, 351. 1, 348. 3 1. 384.8 1,416. 7 1,386.9' 1,397.2 1,421.5 1,450.8 1,445. 6 Indiana 284.9 279.3 270.6 278.4 273.4 277.9l 271. 5 284.1 288.4 294.2 Illinois 1, 773. 71, 810. 6 1, 770. 61,847. 7 1,904. 6 1,918.5! 1,879.4 2,009.2 2,049. 3 2,063. 3 Michigan 911.4 915.2 897.0 958.2 935.4 950.7 935. ll; 1,027. 9 1,043. 6 1,062.1 Wisconsin 322.5 319.7 326.1 323.1 317.5 315.1 320.7| 333. ~ 343.8 348.7 West North Central: Minnesota _ 341.2 341.4 329.4 322.6 341.6 337.4 331. 7 325.9 334.2 333.1 Iowa 295.4 270. 269.1 259.8 258.3 258. 3 259. 2 250.4 256.3 251.7 Missouri __ 627.0 620.4 615.4 620.9 621.1 630. 5 620.0 615.9 624.9 613.7 North Dakota... 54.1 49. 50.1 49.3 50.1 47.6 46.1 46.7 46.4 46.3 South Dakota- 45.3 39.4 38.8 38.2 39.3 38.6 38.6 40.3 41.4 39.8 Nebraska 144.3 135.3 130..99 128.3 132.2 131.2 136.2 129.8 133.2 133.2 Kansas 139. 3 i 135.1 138..0 137.6 135.2 136.8 136.7 136.0 138.8 135.0 South Atlantic: Delaware 33.5 36.5 39.6 40.7 41.8 42.5 44.0 50.3 55. J 67.7 Maryland 209. 209.4 206.6 214.0 206.2 202.7 214.i 211.3 Dist. of Columbia.. 85.3 91.9 92.9 94.3 90.1 94.3 96.3 92.6 95.4 Virginia 314.2 313.0 314.3 317.4 322.6 328.4 320.6 317.6 317.1 319.5 West Virginia.._ 156. 7 160.6 156. 6i 158.9 157.6 158.4 153. 9 155.3 153.3 157.5 North Carolina . 184.0 177.7 174.0 177.4 183.3 181.5 183.1 187.5 188.6 181.9 South Carolina.. 92.6 88.0 85.7 85.2 85.7 88. 2 86.5 86.4 82.2 82.2 Georgia.._ _ 213.8 206.9 203.9 208.1 218.2 202.8 201.0 217.8 207.3 203.7 Florida 193.7 179.8 172.6 153.9 143.1 139.4 140. 7 139.6 123.4 121.4 East South Central: Kentucky 219. 223.3 220.7 223.0 224.9 227.1 225.4 230.2 246.9 254.4 Tennessee 217.5 218.8 215.4 216.1 222.4 229.4! 226. 7 225.2 225.5 225.1 Alabama 156.4 155.9 153. 3 154.6 162.9 164. 6 163.1 169.5 174.7 179.5 Mississippi 62.4 58. 59.7 53.2 57.2 56.1 57. 9! 58.5 60.9 57.0 West South Central: Arkansas 107.2 99.2 95.1 94.8 96.9 95.5 94.5 95.8 98.7 93.4 Louisiana 222.6 233.6 220.9 214. 218.3 218.9 210.3 215.6 227.1 224.2 Oklahoma 205.4 190.1 201.3 198.4 198.3 199.9 196.6 207.1 208.2 209.7 Texas 596.4 599.0 618.4 604.1 637.8 643.8 651.8 641.5 672.4 680.9 Mountain: Montana 58. 58.3 57.1 58.1 61.3 62.8 66.0 67. 72.5 78.3 Idaho 35. 36.4 35.3 34.4 33.8 34.3 33.5 33.7 34.5 34.5 Wyoming 22.4 23.2 21. 22.3 21.8 22.7 22.3 22.6 23.3 23.2 Colorado 131.8 135.8 137.7 128.4 136.0 134.3 134.8 134.4 143.4 140.7 New Mexico 14. 15.1 15.0 14. 15.6 17.2 17.7 17.4 18.2 19.4 Arizona... _ 22.0 19.6 20.3 21.2 21.2 22.6 25.1 26.3 24.0 25.3 Utah.. _ 58.5 61.2 59. 57.4 58.0 64.8 62.3 61.9 62.8 64.5 Nevada 10.3 10.7 10.2 10.5 10.8 10.3 10.2 11.2 11.4 11.7 Pacific- Washington 184.2 179.0 179.1 181.1 187.8 185.7 177.6 194.6 197.2 195.7 Oregon 127.1 122.3 118.6 120.5 121.2 112.1 106.7 109.5 110.8 109.7 California 1, 519. 41,642.4 1,699.7 1, 713. 61,695. 5 1, 716. 21, 668.8 1, 712. 0 1, 729.8 1, 672. 5 1 Includes rediscounts and overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. Back figures.—SGQ Annual Report for 1927 (Table 92). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
194 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 100.—ALL MEMBER BANKS—INVESTMENTS, BY STATES I 1926 1927 1928 State June 30 Dec. 31Mar. 23 June 30 Oct. 10 Dec. 31Feb. 28 June 30 Oct. 3 Dec. 31 United States... 9,123.4 1.7 9,621.9 9,818. 3 9,959. 3 10, 360. 5 10, 589. 5 10, 758. 4 10, 604. 0 10, 528. 7 New England: Maine 76.3 78.4 81.6 84.3 87.4 82.3 80.5 78.7 70.i 70.3 New Hampshire. 27.0 27.0 27.4 27.3 27.8 28.4 28.9 28.9 29.1 29.2 Vermont 24.7 25.9 26.3 26.2 27.3 27.9 28.8 28.8 28.6 29.0 Massachusetts- 409.9 399. 421.5 453.5 466.5 471.9 473.2 447.4 453.1 420.4 Rhode Island 125.6 132.6 135.8 140.2 141.7 145.9 149.6 146.2 138.8 141.5 Connecticut 78.0 79.5 81.5 85.4 87.2 87.4 88.1 88.3 84.4 81.0 Middle Atlantic: New York... 2,481. 5 2, 374. 62, 549.6 2, 645. 6 2, 554.8 2,689.3 2, 792.9 2,853.9 2, 766. 3 2, 726. 5 New Jersey 481.1 482.8 496.8 504.1 525.4 524." 523.4 543.5 528.7 518.1 Pennsylvania. ._ 1, 296. 2 1, 298. 51,407.4 1, 402. 51,446. 5 1,484.8 1,492. 4 1,485. 7 1,459. 9 1,408. 9 East North Central: I Ohio.... _ 449.8 428.8 461.7 484.0 509.8 485.2 506.4 524. 8j 519.5 503.3 Indiana.. 114.4 115.1 114.6 122.1 127.7 131.4 130.1 137.9 141.3 141.8 Illinois 616.2 573.3 650.5 645.8 631.2 712.0 738.3 753.3 709.9 712.9 Michigan.. 391.3 389.8 416.6 400.2 412.6 400.0 421.5 431.3 417.9 410.2 Wisconsin 137.3 136.4 140.5 143.0 145.1 153.7 157.3 156.3 152.2 145.9 West North Central: Minnesota 180.8 175.5 186.5 186. 190.7 203.7 208.5 210.1 208.7 204.4 Iowa 92.5 88.1 93.6 98.0 104.1 102.7 104.7 109.0 113.11 112.1 Missouri. 263.3 251.4 277. 277.1 277.9 287.3 293.8 306. 31 290. 7j 302.7 North Dakota 26.6 25.1 24.8 23.3 24.5 27.3 27.6 27.1 27. 0i 28.8 South Dakota... 22.2 20.9 20.8 21.4 23.0 24.5 25.2 26.5 27.8! 28.6 Nebraska 34.6 36 7 42.2 38.' 41.1 45.2 44.9 53.4 55. 5! 57.5 Kansas _ 49.3 54! 5 53.6 56.1 59.0 62.6 61.5 68.2 71. 3j 74.3 South Atlantic- Delaware _ 20.6 20.4 21.4 22.0 22.4 22.0! 21.6 19.3 19.9 18.2 Maryland 92.1 93.4 101.9 106.8 139. 122. 3f 116.1 105.7 101 101.5 District of Columbia 32.2 30.7 30.5 32.4 31.9 32.0] 33.7 34.2 34.9 33.7 Virginia 60.3 61.2 61.4 64.7 71.0 72.4 73.5 74.9 74.4! 77.8 West Virginia 40.1 37.8 42.3 44.0 44.5 42.81 43.7 44.9 45.0 43.2 North Carolina _ 27.5 24.5 29.1 31.3 37.1 41.21 40.3 39.7 39.0 40.3 South Carolina- 22.2 24.4 24.8 27.8 30.5 32.9) 31.9 35.0 30.6 29.9 Georgia 37.5 37.7 45.3 44.3 48.6 54.3 54. 48.6 55.3 56.8 Florida 82.1 78.4 83.3 84.4 85.6 83.1 80.2 80. 81.5 81.7 East South Central: j Kentucky 63.6 67.4 77.4 81.9 89.6 90.0 91.4 88.3 85.4 87.8 Tennessee 34.7 34.9 35.7 37.3 37.9 41.4 44.1 46.3 46.4 49.4 Alabama. 38.0 40.4 41.5 42.5 44.7 48.1 45.9 48.8 51.2 52.3 Mississippi 19.6 20.8 22.7 21.8 20.6 21.81 21.2 20.7 19.3 20.7 West South Central: Arkansas 20.7 19.1 19.2 21.7 23.6 25. 27.5 29.1 30.9j 32.9 Louisiana 41.6 39. 43.6 45.8 44.5 54.3! 40.1 46.2 60.1 63.6 Oklahoma 94.4 101.2 103. 107.0 109.5 113. 6| 115.5 121.3 122. 3| 127.5 Texas.. 145.1 142.2 159.6 163.4 173.4 186.3 186.7 206.6 216.9 236.8 Mountain: Montana _ 32.3 35.8 36.4 35.5 39.' 39.8 39.5 44.8 47.8 Idaho .... 15.7 17. 17.1 16.8 17.6 18.6 19.1 19.5 19.5 Wyoming 10.3 11.1 10.9 10.9 11.1 12.41 12.3 12.0 12.3 14.4 Colorado 84.8 86.9 88.7 87.4 89.1 89.71 92.1 89.7 86.7| 87.4 New Mexico 7.0 8.3 8.5 9.1 8.4 10. Oi 10.2 10.7 10.21 11.5 Arizona 8.0 10.3 10.6 11.5 11.5 13. Oj 13.1 15.1 16.5 18.5 Utah... 20.6 18.2 18.2 18.1 18.7 18.3| 19.4 20.6 21.1 22.5 Nevada 4.7 4.7 4.7 4.8 4.8 4.9| 5.1 5.4 5.1 5.3 Pacific- Washington 93.8 96.1 102.4 101.7 111.5 117. Oj 119.0 120.3 118.9 123.8 Oregon 70.9 76.0 75.6 75.6 80.8 93.7 96.3 97.2 100. ll 100.2 California 524.3 555.3 594.3 601.4 622.4 681.2 717.7 732.8 758.8 776.3 Back figures.—See Annual Report for 1927 (Table 93). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS, BY STATES 195 No. 101.—ALL MEMBER BANKS—BORROWINGS FROM FEDERAL RESERVE BANKS, BY STATES, 1927-1928 [End of months figures. In thousands of dollars] 1927 ! State Jan. Feb. Mar. Apr. May June July Aug. Oct. Nov. Dec. Maine 1,634 1, 1,781 1,155 1,319 2,300 733 951 2,394 1,473 N. Hampshire. 1,550 1,779 1,644 1,225 2,113 2,231 1,366 927 875 730 636 805 Vermont 1,246 1,370 1,530 1,248 1,041 1,375 1,078 884 783 1,128 649 558 Massachusetts. 23,265 33,330 40, 281 16,966 45,293 35, 36033, 511 28, 760 25, 52020,388 33,404 24,314 Rhode Island.. 1,595 93 394 30 4,263 487 1,304 2,047 1,772 787 552 304 Connecticut 2,617 4,004 5,088 3,443 3,005 4,354 3,343 4,439 2,530 2,504 3,096 3,083 New York 90,135120,431 53,083127,888 72,497 73, 55976, 79484, 443 104,47283,170 129,769 266,687 New Jersey 25, 951 22, 226 24, 434 25, 012 24, 989 25, 54830,156 24,924 25, 25822, 225 22,140i 19,150 Pennsylvania- 47,802 48,122 80, 587 57,341 77, 521 49, 741 45, 242 51,733 46, 622 57,920104,217 I O n h d io iana.. 23 6, , 2 9 4 8 6 2 1 7 5 , , 8 8 9 6 0 0 1 4 7 , . 3 13 0 6 2 1 3 7 , , 5 4 2 5 2 8 1 4 5 , , , 0 6 5 3 5 1 3 1 2 4 0 , , 9 7 7 7 5 7 21 5 , , 9 1 9 8 2 9 1 3 3 , , 3 4 2 8 1 5 2 3 1 , ,4 5 8 4 3 5 2 3 4, , 4 5 0 7 3 7 15 1 , , 6 8 8 6 6 8 15 3 , , 1 5 1 3 5 5 Illinois 18,439 29,492 51,134 24,408 26,334 18,996 19,662 9,712 17, 63925, 266 23, 797 14,203 Michigan 36, 679 31, 267 20, 585 11,122 14, 86424, 6441 11884,4445513, 751 10, 691 21, 582 27,696 27,231 Wisconsin 8,406 7,103 9,228 9,030 11,008 7,513 4,679 3,944 4,132 3,320 6,658 I M ow in a n esota _.. 8 1 , , 2 9 5 8 9 1 6,532 3 V ,772 3 6 , , 7 28 5 0 4 3 5 , , 4 8 7 1 1 0 3,463 3 l, , 54 50 7 9 i | 3 2 , , 4 9 6 1 1 3 1,416 4 1 , , 5 03 5 3 5 2 6 , , 3 8 7 7 5 0 4,0 7 2 2 3 2 Missouri 6,903 9,621 17.137 17, 232 23,104 27, 64617,1411 17,850 16,947 9,913 11, 837 11, 475 North Dakota- 713 826 791 1, ~" 1,199 1,171 1,554 1,761 830 427 312 319 South Dakota. . 951 929 953 1,037 1,095 1, 262 i1,479 1,283 794 570 695 640 Nebraska 5,753 3,252 2,434 7,467 6,745 2,289 1,674 1,310 1, 6971 5,167 9,119 4,705 Kansas 1,556 1,312 1,493 2,078 2,927 2,314 1,794 1,338 1,417 3,639 2," 1,246 Delaware 499 644 857 813 646 532 3171 711 783 474 Maryland 4,106 5,126 2, 545 3,163 4,342 2, 742| 1,477 5,150 5,547 7, 5,498 Dist. Columbia 865 438 1,070 1,020 704 81 485 115 1,315 1,465 500 920 Virginia 7, 6,269 5,167 6,491 7,349 5,278 5, 002J 7,520 11, 267 11, 289 5,877 11,894 West Virginia. _ 2,640 2,317 2,134 2,984 2,954 3,441 2, 2811 2,455 3,227 2,497 1,631 5,363 North Carolina 4,580 4,586 5, 758 6,484 7,447 6,802i 7,856 6,977 5,293 2,429 1,998 South Carolina. 4,321 4, 576 4,612 4,242 2,636 2, 030} 2,800 2,607 1,529 1,323 1,671 1,425 Georgia 4,309 4,461 5,332 5,374 5,505 6, 5711 5,882 6,457 5,467 4, 722 6,575 3,582 Florida _._ 5,""" 4,982 3,448 2,441 1,955 1,8171 2,504 3,445 4,142 4,406 3,502 2,619 Kentucky 3,299 3,112 2,500 4,231 2, 283 7, 7991 8,199 6,593 9,575 9,667 6,911 6,663 Tennessee 5,537 5,537 3,057 3,033 3,633 2, 314, 4, 028! 5,276 6,879 3,914 3,096 2,845 Alabama 4,299 5,507 7, 514 8,557 7,139 6,107| 6,177 5,310 3,670 2,830 5,380 2,411 Mississippi.... 2,122 1,573 1,382 ir ' 2,520 3,045i 4,028 3,725 1,945 1,563 1,239 Arkansas 1,989 1,277 1, 1,185 1,542 1,353 2,343 3,306 4,550 2, 332 2,001 210 Louisiana 8,804 10,100: 12,146 19,688 13,961 11,125 20,169 12, 612 8,736 11,156 21, 557 16, 620 Oklahoma 1,291 l,095i 1,546 1,787 2,094 2,316 1,995 2,583 4,695 2,388 1,245 688 Texas 3,328 2,827| 3,130 3,531 5,147 5,481 9,393 12, 574 4,767 10, 323 848 Montana 77 115| 165 303 534 604 761 768 393 79 30 21 Idaho... 567 540| 604 770 1,184 1,217 1,582 1,328 7791 551 351 161 Wyoming 57 711 87 152 192 278 427 230 104 48 Colorado 2,179 1,5011 1,325 1,702 2,729 1,503 3, 568 1,366 1,388 1,938 1,282 1,018 New Mexico., 47 105! 146 144 96 170 258 186 200 99 10 Arizona 326 323 175 198 534 240 346 389 325 284 180 190 Utah 871 753 541 1,938 1,719 995 2,201 1,977 1,171 952 168 Nevada Washington 1,622 2,304 1,782 855 2,116 1,946 3,271 2,421 1,613 2, 254 1, 330 Oregon 3,568 4,957 4, 254 2,332 1,850 1,684 1,811 672 492 875 247 393 California 33,921 44,385 35,572 52, 64729, 75430,470 44,064 38, 763 46, 21838,955 38, 490 3,978 1 Figures given include borrowings by Federal intermediate credit banks as follows: Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Missouri 123 123 Washington 106 California 1,350 100 400 650 1,050 600 1,000 2,150 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
196 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 101.—ALL MEMBER BANKS—BORROWINGS FROM FEDERAL RESERVE BANKS, BY STATES, 1927-1928—Continued [End of months figures. In thousands of dollars] 1928 2 State Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec, Maine 752 718 909 1,072 2,123 2,672 1,901 1,309 1,378 2,204 2,184 1,810 N. Hampshire. 1,112 1, 305 2,746 1,332 2,334 2,584 1,340 1,675 1,7" 1,502 1,446 1,802 Vermont 534 698 992 934 1,029 1,711 1,358 1,204 937 980 794 1,356 Massachusetts. 33,751 49, 918 44, 350 36,340 69, 264 62, 703 48, 727 39, 314 34, 270 19,144 58, 729 53, 583 Rhode Island.. 102 396 1,225 593 5,918 4,291 8,310 7,368 8,923 6,113 7,907 6,830 Connecticut I 2,196 3, 260 1,809 1,759 5,203 7,619 6,713 6,246 7,092 4,436 5,632 5,522 New York 103,025 69,063128, 001 262, 280 328,125 415, 561 273, 071 247, 904 324,420 2158,, 66775 304,468 425, 657 New Jersey 19, 923 19,642 23,051 32,784 35,636 44,111 52,000 49, 245 51,6"2"0 48, 685 50, 341 46, 220 Pennsylvania. - 59,006 83,277 80,029 82, 553 103, 524 143,416 123, 920 149, 496 135, 274 104,113 112, 818 113,477 Ohio 12, 783 34,405 33,392 28,779 42,039 43, 741 50,436 44, 738 39,43241,622 53,206 50,357 Indiana.- 3,587 6,209 4,825 5,491 4,361 5,191 8,940 9,992 7,62810,128 6,282 7,047 Illinois 15, 356 18, 64566,447 63,390 64,288 74,320 77,243 99, 335 49,009 88,353 96,613 72,417 Michigan. 17,884j 23,093; 23,152 33,599 52,692 59,147 50, 501 42,281 47,418 46,584 45,746 42,224 Wisconsin. 2,735 12,932j 16,557 14, 781 13,837 15,555 12,528 17,025 17,161 21,020! 18,906 21, 912 Minnesota 2,408 2, 895j 2, 696 12, 814 8,371 5,696 11, 674 17, 55012, 391 12,47 14,094 3,122 Iowa 4, 586 3, 772! 3, 887 3,599 4,015 1,547 2,927 2,833 4, 618 6,835 9,487 6,696 Missouri.. 16,2281 20, 277| 24,168 20, 753 45, 216 43, 70739, 304 52, 773 34, 464 23, 849 29,146 20,273 North Dakota- 472 369; 543 575 734 688 1,050 1,475 972 395 523 347 South Dakota.. 619 508| 381 391 421 511 558 547 436 414 587 445 Nebraska 4,182 2,940 4,429 5,990 4,992 2,329 3,723 2,523 4,644 11,066 16,354 13, 589 Kansas 1,199! 1,061! 1,052 1,452 3,269 1,969 963 1, 722 4,026 11, 799 15,0131 10,617 Delaware 620 719! 597 979 1,977 3,063 1,283 1,431 1,295 1,494 If! 1,415 Maryland 11,744 5, 315! 3,747 9,547 11,214 8,323 5,894 8,161 7,652 6,775 13, 727 7,802 Dist. Columbia. 320| 550 245 1,520 3,895 3,770 1,470 1,320 2,121 2,447 4,471 Virginia 9, 297!'II~868| 13, 347 14,257 15, 394 19, 75520, 703 22,832 20,461 16,458 14, 408 15, 762 West Virginia.. 3,367 2, 710 3,543 3,497 3,951 5,847 5,665 6,225 4, 052 5,386 4,186 4,702 North Carolina- 4,738 7, 602j 7,449 10,043 10,105 12, 56318, 407 21, 61418, 310 11, 738 8,065 6,286 South Carolina- 2,1721 2, 610; 3,471 4,358 3,739 2,812 5,101 4,496 4,066 3,549 4,169 1,390 Georgia 4, 013! 5. 2291 7,041 20, 600 23,114 14,191 22, 523 19,306 20, 242 15, 652 15, 528 6,776 Florida 1,799 L 946| 1,345 1,360 2,643 985 3,353 4,512 3,903 8,281 8,961 3,963 Kentucky 2,177 3, 587! 8,276 14, 597 14, 783 13, 93515, 242 19,175 17, 460 17, 468 16, 855 16,044 Tennessee 1, 842! 2, 803' 1,900 4,540 4,378 5, 444 7,349 9,148 14, 607 8,039 5, 736 6,373 Alabama 4,6411 4,96l! 6,412 10,412 8,632 11,075 13, 879 19, 01919,136 19, 330 15, 874 11,288 Mississippi 1, 225^ 1, 639! 3,456 4,103 5,464 5,180 5,846 6,814 6,815 4,705 3,218 1,401 A Lo rk u a is n i s a a n s a 1 2 3 , , 8 6 5 88 3 ! 1 2 2 , , 9 0 2 17 6 ! ! 9, 1 0 , i 14 1 2 3 , ,8 5 8 2 9 9 20 2 , , 0 7 7 0 7 3 15 2 , , 6 6 8 8 0 821 4 , , 9 7 7 ! 3 "28 7 , , 5 9 5 0 9 0 30 7 , , ' 972 25 6, , 9 1 3 6 4 2 1 2 4 , , 5 3 4 7 3 1 11,3 3 6 7 8 5 Oklahoma 1, 325j 1, 66l| 2, 287 3,656 5,006 4,646 3,9! 4,618 4,248 1,199 497 Texas 4, 960! 1, 949 3, 991 9,302 8,192 24,133 27, 78026,156 21* 350 20, 616 10,918 Montana. l! 39j 33 126 250 231 275 505 218 60 100 213 Idaho 1991 234! 241 339 405 554 664 658 251 150 101 35 Wyoming 48| 2 103 129 96 151 212 222 139 35 7 Colorado 1, 5421 2, 5611 2,527 3,407 3,773 1,305 2, 792 3,541 2,766 5,360 3,630 2,309 New Mexico 129 124 187 175 77 178 176 242 242 152 15 Arizona.. 164 183 198 184 180 187 205 193 170 147 140 133 Utah 255! 368| 2,163 1,644 1,278 1,657 1,912 897 1,718 16 Washington 1, 543! 1, 3171 1, 566 3,540 3,720 2,492 6,104 5,079 2,011 7,506 6,043 2,652 Oregon 9581 1,948| 2,203 3,463 3,077 l, r • - 1,"" 1,948 1,763 1,849 1,718 1,615 California 45,210 60,869| 48,191 81,553 9,873 55,984 83,607 65,784 59,767 70, 207 32,837 2 Figures given include borrowings by Federal intermediate credit banks as follows: Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Minnesota.. _ . 1,846 1,627 1,298 683 500 Missouri 123 57 7 7 7 7 7 Nebraska 745 481 1,318 1,378 1,672 1,642 Kansas 499 2,160 7,495 7,495 7,495 South Carolina 245 565 100 60 244 506 250 Louisiana.. 200 400 900 Washington 831 1,285 1,116 1,096 California 600 405 150 758 Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ALL MEMBER BANKS, BY STATES 197 No. 102.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RESERVE BANKS, BY STATES, 1923-1928 State 1923 1924 1925 1926 1927 1928 New England: Main p. 40 42 37 33 31 29 New Hampshire 42 42 39 39 36 37 Vermont 29 36 28 30 28 22 Massachusetts 153 148 146 135 126 133 Rhode Island ». _ 13 13 14 12 6 11 Connecticut | 46 45 41 46 44 43 Middle Atlantic: New York 433 436 438 429 418 437 New Jersey ! 220 221 235 247 261 264 Pp,nnsvlva.nia_ : 587 592 509 613 596 610 East North Central: Ohio. ; 282 281 285 276 251 241 Indiana 176 169 149 141 135 131 Illinois _ _ .. 335 342 311 321 286 267 MinhiEran i 185 177 161 174 182 166 Wisconsin ! 107 95 73 68 71 78 We>st North Central: Minnesota 139 99 91 85 80 Iowa 333 303 265 230 190 153 Missouri 121 123 110 108 124 116 North Dakota 118 106 52 53 66 61 South Dakota 105 95 52 59 52 36 Nebraska. 149 133 108 112 109 97 Kansas. _ . 128 118 74 95 87 105 Soiith Atlantic: Delaware 17 15 15 14 16 16 Maryland 62 58 54 54 53 50 District of Columbia _ 12 11 9 10 9 9 Virginia 146 155 146 143 124 132 West Virginia 75 92 82 83 74 77 North Carolina-- . . 87 80 78 75 72 78 South Carolina 81 78 69 74 59 48 Georgia.. - 143 156 131 121 104 108 Florida 48 42 17 41 35 36 East South Central: Kentucky . . .. 71 75 67 60 52 51 Tennessee 62 80 63 65 56 53 Alabama 75 90 88 88 79 92 Mississippi 30 32 26 31 32 33 West South Central: Arkansas 81 88 77 74 59 55 Louisiana. _ . . 40 41 35 28 29 30 Oklahoma 259 237 146 167 100 102 Texas. 523 415 309 417 290 267 M<uJntain: Montana 132 102 60 48 45 25 Idaho 83 66 56 38 38 28 Wvnminff 27 27 11 9 10 8 Colorado 89 76 72 67 60 51 New Mexico 41 27 21 14 10 12 Arizona. - . . . . 22 19 8 8 6 3 Utah 38 34 36 33 33 35 Np.va.da, 1 1 1 Pacific: Washington 101 87 82 78 73 67 Oreeron 63 61 60 57 56 48 California 161 159 138 134 111 87 Total - . . .. 6, 333 6,060 5,183 5,343 4,869 4,718 Back figures.—See Annual Reports for 1922 (Table 49), 1919 (Table 30), 1918 (Table 23), and 1917 (p. 104). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
198 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF REPORTING MEMBER BANKS IN EACH DISTRICT No. 103.—REPOETING MEMBER BANKS—LOANS, INVESTMENTS, AND BORROWINGS AT FEDERAL RESERVE BANKS, BY MONTHS,1 1927-28 (REVISED SERIES) [Monthly averages of weekly figures. In millions of dollars] ]federal Reserve District B to o n s- Y N o e r w k P p d h h e i i l l a a - - C l l a e n v d e- m Ri o c n h d - l A a ta n t- - c C a h g i o - Lo S u t. is n M o e l a i i n s p - - K C s a a it n s y - D la a s l- F c S i r s a a c n n o - Total loans and investments: 1927—January 1,347 7,266 1,175 1,977 651 602 2,969 691 356 614 386 1,652 February. _1,347 7,132 1,162 1,966 656 597 2,983 692 358 623 400 1,643 March 1,375 7,327 1,180 2,038 659 610 3,004 697 364 633 410 1,693 April 1,368 7,413 1,185 2,048 660 614 3,002 697 357 630 406 1,687 May 1,377 7,538 1,175 2.076 659 609 3,053 706 349 629 403 1,700 June 1,419 7,690 1,179 2,080 664 607 3,080 697 355 629 405 1,700 July . .1,446 7,590 1,182 2,064 674 600 3,096 700 353 633 404 1,662 August 1,425 7,540 1,186 2,081 683 594 3,113 699 350 637 403 1,644 September. 1,448 7,681 1,207 2,096 691 608 3,132 705 362 636 417 1,669 October 1,487 7,779 1,223 2,109 698 619 3,147 715 375 634 428 1,705 November. 1,508 7,920 1,210 2,082 695 619 3,162 722 393 638 440 1,722 December.. 1,500 8,074 1,208 2,095 696 629 3,143 732 389 647 443 1,772 1928—January 1,492 8,214 1,228 2,095 699 622 3,161 730 382 646 435 1,790 February__ 1,483 8,046 1,214 2,128 687 611 3,123 732 381 656 442 1,812 March 1,524 8,108 1,215 2,152 684 612 3,167 723 386 666 439 1,825 April 1,558 8,365 1,235 2,182 691 625 3,213 726 385 678 446 1,840 May 1,543 8,505 1,236 2,192 689 631 3,285 731 372 676 442 1,846 June 1,512 8,404 1,246 2,198 688 637 3,313 720 375 670 445 1,857 July 1,499 8,375 1,244 2,216 676 635 3,287 723 373 678 455 1,845 August 1,493 8,172 1,248 2,204 676 641 3,299 719 369 684 455 1,849 September _1,477 8,238 1,245 2,185 680 641 3, 285 725 377 683 466 1,867 October 1,482 8,229 1,235 2,192 675 643 3,321 722 393 684 478 1,883 November _1,481 8,267 1,225 2,187 676 639 3,329 714 403 685 479 1,897 December. -1,461 8,384 1,232 2,191 678 648 3,358 720 397 687 489 1,945 Loans on securities: 1927—January 352 2,471 444 577 158 115 979 198 78.9 136 90.0 316 February, _ 344 2,358 426 572 157 115 984 192 83.9 136 94.9 318 March.. __ 348 2,428 415 595 157 115 981 195 80.8 137 94.2 321 April -. 345 2,490 408 613 158 114 974 198 78.9 134 96.6 320 May 336 2,534 402 641 159 110 1,001 197 79.5 135 98.2 325 June 357 2,654 411 635 161 112 1,047 198 79.0 143 97.2 327 July 367 2,606 404 612 160 114 1,076 208 79.6 152 93.2 319 August 361 2,589 409 608 161 116 1,111 209 79.1 150 93.9 314 September. 384 2,631 424 621 160 120 1,103 211 77.4 150 97.4 320 October 396 2,698 417 622 162 122 1,120 212 84.6 143 99.7 327 November _ 390 2,799 412 607 163 120 1,118 214 92.0 141 102.1 333 December. . 387 2,959 426 623 167 123 1,087 217 92.1 143 104.8 348 1928—January 402 3,089 436 630 169 122 1,074 214 82.0 144 104 346 February. _ 390 2,904 425 659 164 126 1,040 212 81.8 152 108 345 March 420 2,823 428 657 164 127 1,072 203 77.7 155 106 353 April - 447 3,060 442 674 174 130 1,091 206 74.7 154 104 366 May 433 3,185 437 675 180 132 1,128 210 74.0 147 105 369 June 438 3,004 454 680 183 137 1,155 218 82.3 143 103 365 July 428 3,003 456 694 188 139 1,134 222 81.5 146 106 358 August 412 2,911 454 675 186 137 1,132 222 76.7 147 105 359 September . 392 2,947 452 666 187 143 1,138 218 76.3 146 107 366 October 413 2,966 451 656 185 141 1,144 215 82.6 139 107 374 November. 441 3,096 452 665 189 137 1,164 216 87.1 134 110 391 December.. 443 3,160 469 674 190 139 1,186 218 78.7 134 110 394 All other loans: 1927—January 666 2,817 399 789 359 391 1,318 319 165 284 224 893 February,_ 673 2,782 398 779 361 383 1,303 320 157 288 232 890 March 680 2,838 405 783 359 383 1,309 316 161 293 232 911 April 670 2,830 412 788 357 386 1,308 310 158 289 224 901 May 673 2,846 412 789 354 387 1,322 305 148 286 219 908 June 682 2,857 412 783 358 379 1,299 305 155 279 217 902 July 686 2,845 417 787 361 369 1,290 305 154 276 219 881 August 678 2,866 422 804 363 366 1,287 308 151 282 219 877 September _ 676 2,993 417 800 366 373 1,300 312 165 277 228 862 October 694 3,039 420 794 366 379 1,292 315 170 277 232 876 November. 701 3,021 413 773 359 377 1,293 319 175 282 238 864 December.. 699 2,959 391 770 356 378 1,284 321 167 284 236 874 » For corresponding series for 1927-28 by weeks (with figures for deposits, etc.), see Federal Reserve Bulletin for March and January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORTING MEMBER BANKS IN EACH DISTRICT 199 No. 103.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, AND BORROWINGS AT FEDERAL RESERVE BANKS, BY MONTHS,1 1927-28 (REVISED SERIES)— Continued [Monthly averages of weekly figures. I n millions of dollars] Federal Reserve District B to o n s- Y N o ew rk P p d h h e i i l l - a a- C la le n v d e m R o ic n h d l A a ta n t- - c C a h g i o - L S ou t. is M n o e l i a i n s p K C s a a it n s y - D la a s l- F c S i r s a a c n n o - All other loans- Continued: 1928—January- _. 683 2,909 393 760 354 371 1,295 317 167 279 229 875 February. _ 689 2,898 391 764 347 363 1,289 317 166 282 232 879 March 693 3,013 400 778 346 361 1,301 315 175 285 230 887 April 689 3,083 406 783 343 368 1,314 312 177 290 233 882 May. 683 3,083 419 784 335 372 1,343 303 165 292 228 877 June 671 3,116 419 785 333 371 1,357 297 160 286 228 886 July 686 3,125 422 788 328 364 1,364 300 159 292 229 880 August 695 3,145 421 796 330 366 1,390 301 158 296 228 883 September. 696 3,157 426 803 333 360 1,384 314 168 293 237 886 October 702 3,136 424 820 334 364 1,419 316 177 302 248 887 November. 678 3,049 424 816 332 369 1,407 307 183 307 249 892 December- 660 3,087 413 809 331 374 1,418 305 185 311 251 912 Investments: 1927—January 328 1,978 332 611 134 96.7 673 175 113 194 72.7 443 February. _ 330 1,993 338 616 137 98.5 696 179 117 199 73.7 436 March 347 2,062 360 659 143 111.5 714 186 122 204 83.6 461 April 353 2,093 365 647 145 114.0 720 189 121 207 84. 466 May. 368 2,158 360 647 146 111.9 730 204 121 209 86.4 467 June 379 2,179 356 661 146 116.7 734 194 121 207 91.8 471 July 393 2,139 361 666 153 116.1 729 187 119 206 91.8 462 August 385 2,085 356 669 159 112.3 716 182 120 205 90.2 452 September. 389 2, 058 365 676 165 114.7 729 182 119 210 92.0 488 October 396 2,042 386 693 170 118.6 735 188 120 213 95.6 503 November.. 418 2,100 385 702 172 121.3 751 189 126 215 99.1 525 December— 414 2,157 391 702 172 127.8 772 194 130 220 102.3 550 1928—January 407 2,216 399 706 176 129 792 199 133 223 103 569 February. _ 405 2,244 399 705 176 122 794 204 133 221 102 588 March 411 2,272 387 718 174 124 794 205 133 225 104 585 April 421 2,222 387 725 175 126 808 209- 134 234 108 592 May 427 2,237 380 733 174 127 813 218 133 238 109 600 June 403 2,283 372 732 171 129 801 206 132 241 115 606 Julv. 385 2,248 366 734 160 132 789 202 132 239 120 607 August 386 2,116 372 733 160 139 777 196 135 241 122 607 September. 389 2,134 367 717 158 138 764 194 133 243 122 615 October 367 2,127 360 716 157 137 757 191 133 243 123 623 November- 362 2,122 349 706 156 133 758 191 133 244 120 614 December. . 357 2,137 349 708 156 134 754 197 134 242 128 639 Borrowings at F. R. bank: 1927—January 14.3 89.7 13.2 44.8 7.7 16.3 62.8 8.6 1.2 5.7 3.6 31.8 February. _ 12.7 67.6 9.4 32.3 10.8 10.4 48.3 4.5 1.2 3.9 1.5 30.3 March 20.5 82.1 14.1 22.4 9.4 15.8 49.7 7.4 1.8 3.1 1.3 40.5 April 9.0 88.8 13.6 36.4 9.1 16.4 36.8 6.2 2.9 6.4 2.2 42.4 May.. 24.6 103.6 15.3 36.6 8.3 18.2 36.2 12.2 3.5 10.8 1.7 31.0 June. 21.1 64.5 21.2 37.4 6.8 15.5 43.5 16.8 2.6 9.5 2.1 27.6 July 15 7 89 1 17.7 26 1 7 6 17.2 37.0 19.8 1.9 6.1 2.4 31.2 August 18.5 91.8 15.9 22.7 5.1 15.4 26.8 15.2 1.6 3.2 6.6 33.2 September. 19.2 109.8 16.2 27.7 10.6 13.1 20.1 16.5 .6 4.6 4.6 23.9 October 22 0 94 2 15.3 31.8 16.5 10.5 26.0 12.8 1.1 9.3 4.3 39.1 November. 19.9 90.3 14.2 33.5 11.2 18.6 31.2 9.0 .2 10.2 6.6 31.1 December.. 24.9 151.0 22.7 50.0 16.6 21.3 47.6 9.7 .6 8.6 4.0 31.1 1928—January 6.5 109.8 21.3 40.8 16.5 19.2 41.9 9.1 1.6 7.6 3.4 36.6 February. _ 29.4 88.2 32.5 40.1 17.8 16.1 35.1 16.3 1.8 5.8 2.3 52.4 March 34.3 94.7 25.8 44.3 15.5 12.1 50.8 17.3 1.5 6.1 2.0 57.6 April 30.9 172.9 28.2 46.3 18.4 22.1 64.6 20.7 8.4 15.2 5.1 55.2 May 44.1 251.6 34.2 54.2 24.3 32.6 86.9 26.7 8.7 17.2 5.6 57.5 June 58.5 328.0 46.9 73.1 26.0 42.6 114.2 35.9 5.6 15.8 6.8 42.7 July 41.7 329.0 61.1 85.8 30.4 47.9 132.5 37.7 6.7 18.5 10.3 52.2 August 40.1 267.3 67.2 64.7 28.6 47.6 131.5 40.0 12.1 17.2 20.7 69.9 September. 30.1 310.5 75.6 60.6 27.7 54.1 88.3 43.8 12.9 17.7 19.8 81.5 October 24.8 253.9 62.8 60.0 22.4 49.0 112.3 33.4 12.4 18.1 18.3 69.1 November. 31.2 200.3 49.8 74.0 24.0 40.1 116.4 28.7 11.0 25.0 16.0 64.3 December- 41.4 274.8 55.1 89.8 22.9 ! 33.7 153.0 25.7 6.7 25.4 14.6 56.0 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
200 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 104.—REPORTING MEMBER BANKS—TOTAL LOANS AND INVESTMENTS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES (OLD SERIES) [In millions of dollars. These series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929] Federal Reserve District B to o n s- Y Ne o w rk P a p d h h e i ia l l - - C la le n v d e- m Ri o c n h d - l A an t t - a c C a h g i o - Lo S u t i . s n M o e i l a i n p s - - K C s a i a t n s y - Dallas F c S i r s a a n c n o - 1928 Jan.4 1,530 8,612 1,235 2,102 706 627 3,154 726 382 644 436 1,904 Jan. 11... 1,537 8,461 1,246 2,105 702 623 3,198 731 383 646 435 1,906 Jan.18 1,535 8,357 1,236 2,105 700 624 3,189 734 383 648 437 1,924 Jan. 25 1,506 8,373 1,208 2,099 704 620 3,152 730 379 645 438 1,916 Feb. 1 1,526 8,402 1,219 2,116 693 614 3,142 732 378 650 444 1,925 Feb. 8 1,529 8,277 1,227 2,137 692 616 3,131 738 382 658 444 1,922 Feb. 15 1,515 8,245 1,215 2,141 690 616 3,132 734 382 660 446 1,939 Feb. 21 1,513 8,159 1,214 2,144 690 613 3,127 731 380 656 443 1,954 Feb. 29 1,511 8,304 1,216 2,146 689 607 3,138 726 383 655 436 1,939 Mar. 7 1,521 8,249 1,215 2,146 685 605 3,165 724 382 662 436 1,939 Mar. 14 .. 1,555 1,216 2,143 687 609 3,174 724 386 666 437 1,949 Mar. 21 1,583 8,307 1,222 2,175 690 619 3,195 724 388 669 447 1,956 Mar. 28 1,583 8,429 1,226 2,181 688 623 3,175 720 386 667 445 1,948 Apr. 4 1,589 8,660 1,237 2,197 694 621 3,206 725 386 674 447 1,956 Apr. 11 1,597 8,546 1,252 2,193 697 629 3,227 728 388 682 448 1,962 Apr. 18 1,608 8,571 1,247 2,186 692 627 3,233 732 385 682 447 1,972 Apr. 25 1,588 1,225 2,185 693 629 3,221 720 382 675 444 1,971 May 2 1,597 8,781 1,233 2,195 692 634 3,268 723 376 678 445 1,967 May 9 1,581 8,740 1,239 2,196 694 631 3,285 721 374 676 446 1,963 May 16 1,578 8,752 1,241 2,203 690 629 3,303 722 369 678 438 1,983 May 23 1,583 8,693 1,246 2,205 689 629 3,291 741 370 676 441 1,976 May 29-30 1,572 8,719 1,251 2,197 690 634 3,312 748 371 673 439 1,970 June 6 1,541 8,689 1,251 2,214 689 633 3,308 712 375 666 439 1,985 June 13 1,561 8,658 1,255 2,201 690 639 3,345 722 376 668 439 1,981 June 20 1,551 8,630 1,252 2,199 686 641 3,305 722 378 672 450 1,989 June 27._. 1,555 8,568 1,252 2,204 691 641 3,313 724 369 674 456 1,982 July 3 1,552 8,870 1,258 2,234 677 636 3,310 722 369 671 452 1, 985 July 11 1,538 8,635 1,261 2,227 680 639 3,283 723 372 674 455 1,964 July 18 1,539 8,476 1,248 2,215 676 639 3,292 727 376 684 460 1,985 July 25 1,528 8,443 1,232 2,218 675 632 3,277 721 374 681 456 1,980 Aug. 1 1,549 8,570 1,254 2,232 678 643 3,319 720 370 680 460 1,976 Aug. 8 1,545 8,423 1,256 2,206 675 643 3,306 718 368 686 461 1,975 Aug. 15 1,541 8,327 1,254 2,208 679 645 3,310 717 368 688 459 1,989 Aug. 22 1,518 8,319 1,249 2,201 676 639 3,290 720 369 681 453 1,990 Aug. 29 1,508 8,349 1,248 2,206 680 638 3,289 719 373 684 453 1,987 Sept. 5 1,506 8,471 1,250 2,193 679 638 3,279 725 372 681 456 2,001 Sept. 12 1,512 8,425 1,250 2,191 678 637 3,272 722 378 682 461 1,998 Sept. 19 1,520 8,503 1,250 2,196 682 650 3,315 727 379 683 476 2,018 Sept. 26 1, 519 8,440 1,245 2,189 684 644 3,290 728 378 685 481 2,009 Oct. 3 1,521 8, 475 1,245 2,202 678 640 3,304 728 382 678 475 2,009 Oct. 10 1,508 8,412 1,240 2,198 674 639 3,301 722 391 685 476 2,016 Oct. 17 1,525 8,471 1,236 2,204 678 650 3,332 724 395 685 482 2,027 Oct. 24 1,522 8,460 1,227 2,196 679 645 3,338 716 397 685 483 2,031 Oct. 31 1,537 8,528 1,237 2,207 678 644 3,349 720 400 686 484 2,030 Nov. 7 1,537 8,542 1,232 2,196 678 644 3,335 714 404 682 479 2,031 Nov. 14 1,529 8,439 1,233 2,197 677 639 3,329 715 405 687 482 2,044 Nov. 21 1,528 8,546 1,222 2,199 682 638 3,349 711 401 688 482 2,043 Nov. 28 1,533 8,681 1,230 2,201 678 638 3,332 717 400 684 486 2,056 Dec. 5 1,510• 8,764 1,231 2,193 678 648 3,369 715 397 682 482 2,078 Dec. 12 1,515 8,614 1,232 2,211 682 643 3,377 722 400 687 481 2,082 Dec. 19 1,528! 8,665 1,242 2,212 683 655 3,384 728 397 688 505 2,131 Dec. 26 1, 524| 8,782 1,243 2,196 680 649 3,346 716 396 692 500 2,131 Average: January.._ 1,527I 8,451 1,231 2,103 703 624 3,173 730 382 646 436 1,912 February.. 1,519 8,278 1,218 2,137 691 613 3,134 732 381 656 443 1,936 March 1,560 8,338 1,220 2,161 688 614 3,177 723 386 666 441 1,948 April 1,596 8,596 1,240 2,190 694 627 3,222 726 385 678 446 1,965 May 1,582 8,737 1,242 2,199 691 632 3,292 731 372 676 443 1,972 June 1,552 I 8,637 1, 253 2,205 689 638 3,318 720 375 670 446 1,984 July 1,539 8,606 1,250 2,223 677 636 3,291 723 373 678 456 1, 979 August 1,532 1,252 2,211 677 642 3,303 719 369 684 457 1,983 September 1,514 8,460 1,249 2,192 681 642 3,289 725 377 683 468 2,007 October 1,523 1,237 2,201 677 644 3,325 722 393 684 480 2,023 November. 1,532 8,552 1,229 2,198 679 640 3,336 714 403 685 482 2, 043 December. 1,519 8,706 1, 237 2,203 681 649 3,369 720 397 687 492 2,106 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORTING MEMBER BANKS IN EACH DISTRICT 201 No. 105.—REPORTING MEMBER BANKS—TOTAL LOANS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES (OLD SERIES) [In millions of dollars. These series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929] Federal Reserve District B to os n - Y N o e r w k P a p d h h e i ia l l - - C la le n v d e- m Ri o c n h d - l A a t n - ta c C a h g i o - L S ou t. is n M o e i l a i n p s - - K C s a i a t n s - y Dallas F c S i r s a a c n n o - 1928 Jan 4 1,052 6,261 813 1,382 531 497 2,271 519 249 420 334 1,302 Jan. 11 1,067 6,038 810 1,386 527 495 2,298 516 250 422 332 1,302 Jan.18 1,061 5,940 802 1,391 524 494 2,285 519 250 426 333 1,299 Jan. 25 1,035 5,911 781 1,386 527 492 2,236 515 246 423 336 1,295 Feb. 1 1,054 5,950 789 1,401 516 487 2,236 516 245 427 342 1,302 Feb. 8 1,058 5,839 797 1,423 514 492 2,227 520 250 436 343 1,297 Feb. 15 1,047 5,818 786 1,425 515 495 2,226 515 248 439 344 1,306 Feb.21 1,041 5,747 786 1,427 514 492 2,225 511 246 435 341 1,318 Feb. 29 1,038 5,828 789 1,428 516 488 2,240 510 249 436 336 1,316 Mar. 7 1,053 5,774 793 1,436 515 486 2,265 507 251 440 336 1,329 Mar. 14___. 1,087 5,887 800 1,430 515 490 2,277 507 253 443 337 1,332 Mar. 21 1,095 5,840 805 1,432 512 489 2,276 504 254 440 338 1,318 Mar. 28.... 1,097 5,982 810 1,431 512 494 2,275 499 252 440 337 1,314 Apr. 4 1,107 6,233 822 1,453 518 493 2,299 502 252 444 339 1,325 Apr. 11 1,115 6,135 831 1,460 521 503 2,314 506 253 448 341 1,332 Apr. 18 1,114 6,155 825 1,455 517 502 2,309 509 251 446 340 1,340 Apr. 25 1,095 6,196 805 1,448 521 504 2,295 499 249 438 335 1,336 May2 1,101 6,367 817 1,453 518 507 2,331 501 244 442 336 1,334 May 9 1,083 6,304 822 1,451 520 505 2,366 500 242 440 338 1,329 May 16 1,084 6, 321 829 1,456 518 503 2,385 499 236 441 330 1,330 May 23 1,092 6,250 833 1,464 515 502 2,364 498 236 435 333 1,329 May 29-30 1,085 6,274 839 1,452 516 505 2,398 496 238 433 329 1,327 June6___ 1,064 6,235 1,465 514 504 2,397 494 242 427 329 1,336 June 13 1,083 6,192 1,456 518 509 2,430 501 243 428 330 1,339 June 20 1,089 6,123 844 1,459 516 511 2,400 502 246 429 331 1,333 June 27 1,097 6,061 849 1,467 521 513 2,404 505 237 431 335 1,330 July 3.. 1,101 6,393 856 1,481 518 506 2,404 505 236 430 333 1,328 July 11.- 1,091 6,164 856 1,479 520 507 2,381 507 241 435 336 1,322 July 18_ 1,086 6,047 849 1,473 504 506 2,398 512 244 446 340 1,335 July 25._ 1,078 6,036 839 1,480 516 500 2,390 507 241 442 334 1,329 Aug. 1 1,085 6,175 845 1,479 515 501 2,423 506 234 440 334 1,324 Aug. 8 1,094 6,116 850 1,465 514 503 2,415 508 232 445 337 1,325 Aug. 15 1,091 6,028 848 1,466 519 504 2,419 508 233 446 336 1,342 Aug. 22 1,070 6,030 845 1,458 518 504 2,411 512 235 439 333 1,342 Aug. 29 1,063 6,050 844 1, 468 522 504 2,411 511 238 443 335 1,340 Sept. 5_. 1,058 6,164 849 1,465 521 504 2,403 516 240 438 337 1,351 Sept. 12_ 1,066 6,099 851 1,470 522 505 2, 401 517 247 441 343 1,353 Sept. 19 1,055 6,145 847 1,464 523 503 2,439 519 245 438 351 1,349 Sept. 26 1,058 6,076 846 1,459 526 504 2,419 521 244 441 354 1,349 Oct. 3 1,079 6,162 848 1,478 521 504 2,436 523 249 438 352 1,350 Oct. 10 1,073 6,114 845 1,478 518 503 2,444 518 258 444 353 1,362 Oct. 17 1,090 6,116 841 1,468 521 509 2,461 518 262 441 357 1,362 Oct. 24 1,092 6,117 836 1,468 523 508 2,468 511 263 440 361 1,360 Oct. 31 1,112 6,168 846 1, 479 521 508 2,477 517 268 443 383 1,364 Nov. 7 1,107 6,211 1,477 523 510 2,469 512 273 439 359 1,373 Nov. 14 1,099 6,114 1,478 523 506 2,466 513 275 442 362 1,389 Nov. 21__ 1,102 6,238 841 1,484 522 505 2,471 506 265 445 363 1,391 Nov. 28 1,106 6,343 847 1,486 524 507 2,464 509 266 440 366 1,401 Dec. 5 1,090 6,422 849 1,477 523 518 2,503 508 262 439 362 1, 414 Dec. 12 1,096 6,280 853 1,496 528 513 2,517 513 264 445 362 1,412 Dec. 19 1,097 6,318 858 1,490 524 515 2,518 516 264 447 366 1,432 Dec. 26 1,093 6,430 858 1,472 524 512 2,483 503 263 449 367 1,435 Average: January 1,054 802 1,386 527 495 2,273 517 249 423 334 1,299 February._ 1,048 5,836 789 1,421 515 491 2,231 514 248 434 341 1,308 March 1,083 5,871 802 1,432 514 490 2,273 504 253 441 337 1,323 April 1,108 6,180 820 1,454 519 500 2,304 504 251 444 339 1,333 May. 1,089 6,303 828 1,455 517 504 2,369 499 239 438 334 1,330 June 1,083 6,153 846 1,462 517 509 2,408 500 242 429 331 1,335 July 1,089 6,160 850 1,478 517 505 2,393 508 240 438 336 1,328 August 1,080 846 1,467 518 503 2,416 509 235 443 335 1,334 September. 1,059 6,121 848 1,465 523 504 2,415 518 244 440 346 1,351 October 1,089 6,136 843 1,474 521 506 2,457 517 260 441 357 1,359 November. 1,104 6,227 846 1,481 523 507 2,467 510 270 442 362 1,389 December.. 1,094 6,362 854 1,484 525 515 2, 505 510 263 445 364 1,423 41223—29 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
202 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 106.—REPORTING MEMBER BANKS—LOANS ON SECURITIES, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES (OLD SERIES) [In millions of dollars. These series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for March and January, 1929] Federal Reserve District Bos- Y N o e r w k P a p d h h e i i l a l - - C la le n v d e- m Ri o c n h d - l A a t nt - a c C a h g i o - L S ou t. is n M o e l a i i n p s - - K C s a i a t n s - y Dallas F c S r is a a c n n o - 1928 Jan. 4 3,271 446 624 171 122 1,030 213 83 124 88 355 Jan.11 412 3,042 442 627 171 119 1,033 213 81 125 88 351 Jan. 18 409 2,977 437 636 167 123 1,024 216 84 132 89 348 Jan. 25 388 2,993 417 632 168 124 214 80 128 90 345 Feb. 1— 397 3,055 432 646 162 124 213 82 130 92 350 Feb. 8 402 2,897 433 658 163 126 214 82 138 95 343 Feb. 15—. 388 2,860 419 661 162 126 971 214 82 139 94 349 Feb. 21 381 2,786 418 666 166 126 992 208 81 136 94 355 Feb. 29 381 2,831 422 662 166 127 998 209 82 133 91 351 Mar. 7 398 2,755 419 661 165 126 1,017 206 78 135 91 354 Mar. 14 423 2,829 425 653 165 128 1,012 203 79 139 92 363 Mar. 21._______ 430 2,751 429 657 163 125 1,021 203 78 139 90 355 Mar. 28 430 2,878 438 656 163 127 1,023 200 76 137 89 353 Apr. 4 453 3,083 445 668 170 128 1,033 203 76 139 88 364 Apr. 11 456 2,967 450 676 173 130 1,041 206 75 140 90 368 Apr. 18 449 3,016 446 675 173 131 1,041 210 74 137 90 375 Apr. 25 431 3,095 428 675 180 131 1,030 207 73 130 90 377 May 2 439 3,229 423 669 180 132 1,034 209 70 132 90 381 May 9 426 3,165 429 670 180 133 1,068 209 71 129 91 372 May 16 428 3,189 437 676 180 131 1,087 209 75 128 90 371 May 23 434 3,096 447 684 180 131 1,075 210 75 127 91 378 May 29-30 437 3,137 450 675 182 131 1,098 214 78 126 88 376 June 6 423 3,079 454 684 181 135 1,094 217 83 122 88 382 June 13 440 3,002 455 672 184 138 1,110 217 84 123 87 376 June 20 443 2,944 451 679 182 136 1,088 218 84 126 87 363 June 27 445 2,891 458 186 139 1,098 219 78 127 89 363 July 3 442 3,145 461 704 188 138 1,095 221 78 119 90 361 July 11. 431 3,020 457 693 188 144 1,079 219 82 129 91 359 July 18 422 2,883 456 686 187 138 1,070 223 83 136 92 365 July 25 419 2,865 448 691 189 136 1,065 222 83 130 89 367 Aug. l 427 3,004 454 686 186 136 1,076 220 77 127 90 361 Aug. 8 428 2,911 456 672 187 136 1,075 224 77 129 92 360 Aug. 15_ 2,846 454 670 188 134 1,076 223 77 130 90 366 Aug. 22 2,841 454 666 185 138 1,072 221 76 126 90 365 Aug. 29 2,826 452 679 186 138 1,073 220 76 133 88 366 Sept. 5__ 390 2,954 454 667 187 144 1,072 218 75 129 88 369 Sept. 12 393 2,894 451 670 189 146 1,073 218 77 131 92 367 Sept. 19 390 2,956 455 660 189 136 1,091 217 77 126 94 369 Sept. 26 394 2,886 451 665 189 145 1,083 218 76 127 90 383 Oct. 3 398 2,955 451 661 185 141 1,082 219 77 122 88 380 Oct. 10 400 2,881 453 659 182 143 1,079 214 81 125 95 389 Oct. 17 __.. 411 2,934 450 650 183 143 1,079 214 83 121 93 389 Oct. 24.... 422 2,944 446 652 187 142 1,090 213 86 117 90 387 Oct. 31 436 2,990 453 657 186 136 1,096 214 87 117 91 390 Nov. 7. 441 3,047 449 659 186 137 1,103 212 89 113 92 392 Nov. 14 432 2,946 450 655 189 138 1,105 217 92 116 94 402 Nov. 21 444 3,086 450 666 189 135 1,103 216 84 118 94 407 Nov. 28 _. 449 3,192 460 678 190 139 1,108 219 84 114 93 419 Dec. 5. 434 3,234 465 670 190 139 1,129 216 80 111 91 420 Dec. 12. 442 3,067 467 684 193 139 1,135 220 79 115 92 415 Dec. 19.. 449 3,052 472 673 191 140 1,124 216 78 118 95 419 Dec. 26 3,160 474 667 188 140 1,121 221 79 116 97 418 Average: January 402 3,071 436 169 122 1,020 214 82 127 89 350 February.. 390 2,886 425 659 164 126 986 212 82 135 93 350 March 420 2,803 428 657 164 127 1,018 203 78 137 91 356 April 447 3,040 442 674 174 130 1,036 206 75 136 89 371 May 433 3,163 437 675 180 132 1,072 210 74 129 90 375 June _. 438 2,979 454 680 183 137 1,098 218 82 125 88 371 July 428 2,978 456 694 188 139 1,077 222 82 128 91 363 August 412 2,886 454 675 186 137 1,074 222 77 129 90 363 September. 392 2,922 452 666 189 143 1,080 218 76 128 91 372 October 413 2,941 451 656 185 141 1,085 215 83 120 91 387 November. 441 3,068 452 665 189 137 1,105 216 87 115 93 405 December.. 443 3,128 469 674 190 139 1,127 218 79 115 94 418 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORTING MEMBEB BANKS IN EACH DISTRICT 203 No. 107.—REPORTING MEMBER BANKS—"ALL OTHER" LOANS, BY WEEKS, WITH MONTHLY AVERAGES OP WEEKLY FIGURES (OLD SERIES) ]In millions of dollars. These series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for March and January, 1929] Federal Reserve District B to os n - Y N o e r w k P a p d h h e i i l a l - - C la le n v d e- m Ri o c n h d - l A a t nt - a c C a h g i o - Lo S u t i . s n M o e l a i i n p s - - K C s a a it n s y - Dallas F c S i r s a a c n n o - Jan. 4_— 654 2,990 367 759 359 375 1,241 306 167 296 246 947 Jan. 11— 655 2,995 368 759 357 376 1,265 302 169 297 244 950 Jan. 18 651 2,963 365 756 357 371 1,262 303 166 294 244 951 Jan. 25 647 2,918 364 754 359 368 1,243 301 166 294 245 950 Feb. 1 657 2,895 357 755 354 364 1,251 302 164 297 250 952 Feb. 8 656 2,942 364 765 351 366 1,245 306 168 298 247 954 Feb. 15 _.. 659 2,958 367 763 353 369 1,255 301 166 299 250 957 Feb. 21 _--. 659 2,961 367 762 347 366 1,232 303 165 298 247 963 Feb. 29 657 2?997 367 766 350 361 1,242 302 167 302 245 965 Mar. 7. 655 3,019 374 775 350 360 1,247 301 173 305 245 975 Mar. 14 664 3,058 375 777 351 363 1,265 303 175 305 245 968 Mar. 21-.- 665 376 775 349 364 1,256 301 176 302 248 963 Mar. 28 3,104 372 775 349 367 1,252 299 176 302 247 961 Apr. 4... 654 3,150 377 785 348 364 1,266 299 176 305 251 961 Apr. 11 --. 659 3,168 381 784 348 373 1,273 300 178 308 252 964 Apr. 18.— 665 3,139 379 779 344 371 1,268 299 177 310 249 965 Apr. 25.. 663 3,102 377 773 341 373 1, 264 292 176 309 246 959 May 2__ 662 3,138 394 784 337 375 1,297 292 174 309 246 953 May 9 656 3,139 393 781 340 372 1,297 291 171 310 247 957 May 16 656 3,132 391 781 338 371 1,298 290 161 314 245 959 May 23 657 3,154 386 780 335 371 1,289 288 161 308 242 951 May 29-30 648 3,138 389 776 334 374 1, 301 282 160 307 241 951 June 6-. 640 3,156 388 781 333 369 1,303 277 159 305 241 954 June 13 643 3,190 394 784 334 371 1,320 284 159 304 243 963 June 20. 646 3,179 393 779 334 375 1,313 284 162 303 244 971 June 27 652 3,170 391 781 335 374 1,306 286 159 304 246 967 July 3 660 3,248 394 777 330 368 1,309 284 158 311 243 967 July 11 660 3,144 399 787 331 362 1,303 288 159 305 245 963 July 18 664 3,163 393 786 316 368 1,328 289 161 310 248 969 July 25 659 3,171 391 789 327 364 1,324 285 158 312 245 963 Aug. 1__- 658 3,171 390 794 330 365 1,347 2£6 157 313 244 963 Aug. 8 665 3,205 394 793 326 367 1,340 284 155 316 244 965 Aug. 15 674 3» 182 395 795 331 369 1,344 285 157 316 245 976 Aug. 22__ 671 3,188 391 792 333 366 1,339 291 159 313 243 977 Aug. 29- 674 3,224 392 789 335 366 1,338 291 162 310 246 974 Sept. 5___ 668 3,210 396 798 334 360 1,331 298 164 309 249 •982 Sept. 12 673 3,205 400 800 333 359 1,328 299 170 309 251 986 Sept. 19 665 3,189 39,2 804 333 366 1,348 302 169 312 257 980 Sept. 26 663 3,190 395 794 337 360 1,335 303 168 315 263 966 Oct. 3_ _.. 3, 207 397 817 336 363 1,354 304 173 316 264 970 Oct. 10 673 3,233 392 818 336 360 1,365 304 177 319 258 972 Oct. 17._ 680 3,181 391 818 338 366 1,382 304 179 320 264 973 Oct. 24.. 669 3,173 389 815 336 366 1,378 298 177 323 271 972 Oct. 31— 676 3,179 393 822 335 372 1,381 303 181 326 273 973 Nov. 7 666 3,164 397 818 337 373 1,366 299 184 326 267 981 Nov. 14 667 3,168 400 823 334 368 1,360 295 182 326 I 268 987 Nov. 21 658 3,153 392 818 333 370 1,368 289 182 327 268 985 Nov. 28 658 3,150 388 807 334 368 1,356 291 182 327 ! 273 983 Dec. 5 656 3,188 384 807 333 379 1,374 293 182 327 272 994 Dec. 12 654 3,213 386 813 335 374 1,382 293 186 329 270 997 Dec. 19 648 3,266 386 817 333 375 1,394 300 186 329 271 1,013 Dec. 26— 646 3,270 384 805 336 372 1,362 283 270 1,017 Average: January- 652 2,967 366 757 358 373 1,253 303 167 296 245 950 February- . 658 2,951 364 762 351 365 1,245 303 166 299 248 958 March 663 3,067 374 776 350 363 1,255 301 175 303 246 967 April 660 3,140 378 780 346 370 1,268 298 177 308 249 962 May 656 3,140 391 780 337 373 1,296 289 165 310 244 954 June 645 3,174 392 781 334 372 1,310 283 160 304 244 964 July 661 3,182 394 785 329 365 1,316 286 159 310 245 966 August 669 3,194 392 793 331 367 1,342 287 158 314 245 971 September 667 3,199 396 799 334 361 1,336 300 168 311 255 979 October 676 3,195 392 818 336 365 1,372 303 177 321 972 November 662 3,159 394 817 335 370 1,363 294 183 326 984 December. 651 3,234 385 810 334 375 1,378 292 185 330 271 1,005 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
204 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 108.—REPORTING MEMBER BANKS—INVESTMENTS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES (OLD SERIES) [In millions of dollars. These series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929] Federal Reserve District Bos- New Phil- Cleve- Rich- At- Chi- St. Min- Kan- San ton York adel- land mond lanta cago Louis neap- sas Franphia olis City cisco 1928 Jan. 4 478 2,351 422 719 176 130 883 207 133 224 102 602 Jan. 11 470 2,423 436 719 175 128 900 215 132 223 103 604 Jan.18 474 2,417 433 713 176 129 903 215 133 222 104 625 Jan.25 471 2,462 427 713 177 128 916 215 133 222 102 620 Feb. 1 472 2,452 430 714 177 126 906 217 133 223 102 623 Feb. 8 471 2,438 431 715 177 124 904 218 132 222 102 625 Feb. 15 468 2,427 429 717 175 121 906 219 134 221 102 633 Feb. 21 472 2,413 429 717 177 121 903 219 133 221 102 636 Feb. 29 473 2,476 427 718 173 118 897 216 134 220 100 623 Mar. 7 469 2,475 421 710 171 119 900 217 131 222 100 610 Mar. 14 468 2,482 416 713 172 119 896 217 133 222 100 617 Mar. 21 488 2,467 417 743 178 130 918 220 134 229 109 639 Mar. 28 486 2,447 416 750 176 129 899 220 134 227 108 634 Apr. 4 483 2,427 415 744 176 129 907 223 134 229 108 631 Apr. 11 482 2,411 421 733 175 127 913 223 135 234 107 630 Apr. 18 493 2,416 422 731 175 125 924 223 133 236 107 631 Apr. 25 493 2,409 421 736 172 124 927 221 133 237 108 635 May 2 496 2,414 416 741 174 127 937 222 132 237 109 633 May 9 - 499 2,436 417 745 174 126 919 221 132 235 108 635 May 16 494 2,431 412 747 172 126 918 223 133 237 108 653 May 23 491 2,443 413 741 174 127 927 243 134 240 108 647 May 29-30. .. 487 2,445 412 746 174 129 914 252 133 240 109 643 June 6 477 2,454 409 750 175 129 910 218 133 239 109 649 June 13 479 2,466 405 746 171 129 915 221 133 240 109 642 June 20 462 2,507 409 741 170 130 905 220 131 243 119 656 June 27 458 2,507 403 737 170 128 910 219 132 242 122 652 July 3 451 2,477 402 752 159 130 907 218 133 241 120 657 July 11 447 2,471 405 748 160 132 902 216 131 239 119 642 July 18 453 2,429 399 742 159 133 894 215 133 238 121 650 July 25 450 2,408 393 738 159 132 887 214 133 239 122 651 Aug. 1 464 2,395 409 753 162 141 896 214 136 240 126 652 Aug. 8 451 2,308 406 741 162 140 891 210 136 241 124 650 Aug. 15 450 2,300 406 742 160 142 891 209 134 242 123 647 Aug. 22 448 2,289 404 743 157 135 879 209 133 242 119 648 Aug. 29 445 2,299 404 738 158 135 878 209 135 241 118 647 Sept. 5. 448 2,307 401 728 158 134 876 208 133 243 119 650 Sept. 12 445 2,326 399 722 157 132 870 205 131 241 118 645 Sept. 19 466 2,358 403 732 160 147 876 208 133 245 126 668 Sept. 26 461 2,365 400 730 158 140 872 208 134 244 127 660 Oct. 3 442 2,313 397 724 157 136 868 205 133 240 124 660 Oct. 10 435 2,298 395 721 156 136 857 204 133 240 123 654 Oct. 17 435 2,355 396 736 158 141 871 206 133 244 125 665 Oct. 24 430 2,343 392 728 156 137 870 205 134 245 122 671 Oct. 31 425 2,359 390 728 156 135 872 203 132 243 121 667 Nov. 7 430 2,331 386 718 155 134 866 203 131 243 121 658 Nov. 14 430 2,325 384 719 154 133 864 203 130 245 120 655 Nov. 21 426 2, 307 381 716 160 133 878 205 135 243 119 652 Nov. 28 426 2,338 382 715 154 131 868 207 135 244 120 654 Dec. 5. 420 2,343 382 716 155 130 866 207 135 243 120 664 Dec. 12 419 2,334 379 715 155 130 860 210 135 243 119 670 Dec. 19 431 2,347 384 722 159 140 866 212 133 241 139 Dec. 26 431 2,352 386 724 156 137 864 212 133 243 134 Average: January 473 2,413 430 716 176 129 901 213 133 223 103 613 February__ 471 2,441 429 716 176 122 903 218 133 221 102 628 March 478 2,468 418 729 174 124 904 218 133 225 104 625 April 488 2,416 420 736 175 126 918 222 134 234 108 632 May 493 2,434 414 744 174 127 923 232 133 238 109 642 June 469 2,484 406 743 171 129 910 220 132 241 115 650 July 450 2,446 400 745 160 132 898 216 132 239 120 650 August 452 2,318 406 743 160 139 887 210 135 241 122 649 September _ 455 2,339 401 728 158 138 874 207 133 243 122 656 October 433 2,334 394 727 157 137 868 205 133 243 123 663 November _ 428 2,325 383 717 156 133 869 204 133 244 120 655 December. _ 425 2,344 383 719 156 134 864 210 134 242 128 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOETING MEMBEE BANKS IN EACH DISTEICT 205 No. 109.—REPORTING MEMBER BANKS—NET DEMAND DEPOSITS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District B to o n s- Y N o e r w k P a p d h h e i ia l l - - C l l a e n v d e- m Ri o c n h d - la A n t t - a c C a h g i o - L S o t u . is n M o e l a i i n p s - - K C s a a it n s y - Dallas c F S i r s a a c n n o - l 1928 Jan. 4 978 6,431 785 1,047 391 354 1,913 434 229 499 305 843 Jan.11 983 6,250 808 1,065 391 351 1,932 442 229 499 307 851 Jan 18 976 6,179 795 1,062 387 350 1,909 431 223 492 305 845 Jan. 25 959 6,085 770 1,073 395 344 1,880 432 221 491 302 828 Feb. 1 965 6,205 767 1,074 384 344 1.865 432 222 493 313 822 Feb 8 946 6,038 772 1,065 385 345 1,843 431 223 506 314 819 Feb. 15 950 6,032 756 1,067 381 352 1,863 429 227 507 317 848 Feb 21 927 5,934 757 1,053 375 343 1,837 415 225 504 310 826 Feb 29 925 6,160 758 1,041 375 339 1,846 415 235 506 306 820 Mar 7 933 6,079 772 1,038 372 340 1,865 412 235 512 308 785 Mar. 14 937 6,188 763 1,032 373 348 1,874 415 235 511 308 822 Mar 21 936 5,964 786 1,026 365 333 1,820 399 230 504 300 800 Mar. 28 927 6,045 762 1,032 366 334 1,822 401 231 503 298 803 Apr 4 980 6,233 779 1,067 370 336 1,838 400 228 514 302 810 Apr. 11 982 6,217 785 1,059 373 338 1,859 415 229 511 302 833 Apr 18 985 6,238 786 1,058 369 335 1,851 404 222 503 300 837 Apr. 25 964 6,175 765 1,059 365 331 1,832 402 218 500 292 837 May 2 975 6,324 773 1,060 365 342 1,861 400 214 498 297 837 May 9 951 6,215 778 1,062 368 336 1,875 405 218 502 302 831 May 16 956 6,205 776 1,080 362 341 1,880 406 216 502 302 850 May 23 946 6,103 769 1,078 360 334 1,867 393 214 499 294 817 May 29-30 __. 924 6,116 760 1,070 360 334 1,861 390 216 492 290 816 June 6 927 6,115 769 1,071 363 332 1,864 384 226 492 290 826 June 13 926 6,082 763 1,060 369 337 1,911 393 228 499 292 856 June 20 895 5,913 727 1,048 357 320 1,845 377 225 492 288 846 June 27 896 5,871 723 1,036 355 325 1,830 382 219 503 288 815 July 3 922 6,119 742 1,040 360 330 1,861 377 218 502 287 816 July 11 920 5,848 752 1,040 360 325 1,864 388 222 502 293 825 July 18 922 5,757 732 1,039 358 316 1,841 375 223 503 292 830 July 25 898 5,710 722 1,036 352 315 1,823 379 218 499 287 812 Aug. 1 911 5,824 716 1,045 353 320 1,829 379 211 506 281 811 Aug. 8 _ 897 5,576 716 1,023 354 316 1,821 377 208 503 283 805 Aug. 15 894 5,580 710 1,033 355 318 1,852 378 208 510 288 826 Aug. 22 _ 887 5,550 706 1,037 348 313 1,816 368 208 502 282 809 Aug. 29 885 5,592 707 1,034 349 310 1,812 373 211 499 283 814 Sept. 5 896 5,680 718 1,044 354 314 1,859 378 214 499 291 817 Sept. 12 912 5,710 722 1,044 359 314 1,880 381 220 502 303 853 Sept. 19._ 909 5,640 715 1,047 359 304 1,875 380 221 495 302 849 Sept. 26 903 5,607 707 1,051 361 306 1,852 384 219 501 304 824 Oct. 3. 935 5,695 723 1,063 364 309 1,868 387 228 509 304 833 Oct. 10 . . 922 5,670 716 1,057 359 317 1,872 398 234 507 311 835 Oct. 17 945 5,691 725 1,059 367 318 1,895 392 235 499 314 851 Oct. 24.. ... 939 5, 691 718 1,039 360 311 1,884 383 233 498 313 833 Oct. 31 951 5,826 722 1,048 360 312 1, 857 388 245 504 313 840 Nov. 7 946 5,769 729 1,032 368 319 1,882 396 244 499 313 849 Nov. 14. 948 5,765 726 1,041 366 324 1,900 393 240 506 320 882 Nov. 21 940 5,851 729 1,041 367 323 1,900 390 238 496 312 853 Nov. 28 909 5,920 723 1,032 366 326 1,869 399 237 500 317 863 Dec. 5 919 5,983 728 1,034 377 326 1,872 403 238 498 319 864 Dec. 12 920 5,884 724 1,032 378 339 1,916 418 238 509 324 869 Dec. 19 918 5,827 714 1,020 365 338 1,882 409 230 498 317 864 Dec. 26 901 5,864 718 1,015 364 332 1,828 405 225 502 317 854 Average: January 974 6,236 789 1,062 391 350 1,908 435 225 495 305 842 February._ 942 6,074 762 1,060 380 345 1,851 425 226 503 312 827 March 933 6,069 771 1,032 369 339 1,845 406 233 508 303 803 April ... 978 6,216 779 1,061 369 335 1,845 405 224 507 299 829 May 951 6,193 771 1,070 363 337 1,869 399 216 499 297 830 June 911 5,995 746 1,054 361 329 1,862 384 225 497 289 836 July. 915 5,858 737 1,039 357 321 1,847 380 220 502 290 821 August 895 5,624 711 1,035 352 315 1,826 375 209 504 283 813 September. 905 5,659 715 1,047 358 309 1,867 380 218 499 300 836 October 938 5,715 721 1,053 362 313 1,875 390 235 503 311 838 November. 936 5,826 727 1,037 367 323 1,888 395 239 500 315 862 December.. 914 5,889 721 1,025 371 334 1,875 409 233 502 319 863 * This series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
206 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 110.—REPORTING MEMBER BANKS—TIME DEPOSITS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District B to o n s- Y N o e r w k P a p d h h e i ia l l - - C la le n v d e- m Ri o c n h d - l A an t t - a c C a h g i o - Lo S u t i . s n M o e i l a i n p s - - K C s a i a t n s y - Dallas c F i S r s a a c n o n - l 1928 Jan. 4 1,622 296 249 243 1,192 240 136 160 115 972 Jan. 11 1,622 293 245 241 1,200 238 137 162 116 Jan.18 483 1,623 295 893 246 238 1,203 246 138 163 116 Jan. 25 485 1,628 299 900 245 241 1,203 247 138 164 116 994 Feb. 1 484 1,624 909 244 242 1,211 246 138 164 115 994 Feb. 8 1,640 918 244 241 1,208 246 138 165 118 1,002 Feb. 15 489 1,623 295 924 247 239 1,205 246 138 165 118 1,010 Feb. 21.. i 1,609 296 928 247 239 1,208 247 138 165 118 998 Feb. 29 490 | 1,609 292 941 247 240 1,206 245 133 166 117 1,009 Mar. 7 493 1,586 290 948 247 240 1,224 248 133 168 117 1,019 Mar. 14 520 1,584 288 953 246 239 1,228 248 133 168 117 1,014 Mar. 21 524 1,613 288 968 247 239 1,237 249 134 168 118 1,004 Mar. 28 531 1,644 295 967 247 239 1,224 249 134 169 118 Apr. 4 504 1,648 293 j 956 248 241 1,249 249 134 168 118 Apr. 11 503 1,642 294 954 248 239 1,263 248 135 177 120 1,003 Apr. 18 503 1,650 296 ' 958 247 241 1,264 247 134 177 121 1,001 Apr. 25 506 I 1,673 297 | 962 249 239 1,264 248 134 178 121 1,009 May 2 504 1,696 300 964 249 241 1,273 247 133 178 121 1,005 May 9 506 1,716 300 966 250 243 1,287 249 133 178 122 1,009 May 16 506 1,726 303 965 250 243 1,290 246 132 178 122 1,011 May 23 503 1,741 308 963 250 243 1,287 246 131 178 122 1,013 May 29-30 510 1,739 309 958 250 242 1,301 246 130 179 123 1,016 June 6 502 1,723 311 251 244 1,309 245 131 178 126 1,014 June 13 499 1,723 321 252 242 1,312 243 130 179 126 1,016 June 20 497 1,740 312 958 249 246 1,306 243 129 178 126 1,006 June 27 497 1,748 314 959 | 249 245 1,296 244 128 177 130 1,017 July 3 498 1,699 314 978 I 251 244 1,284 243 128 177 131 1,030 July 11 498 1,705 312 981 I 248 246 1,271 242 130 178 134 1,016 July 18 494 1,683 305 975 ! 246 244 1,263 243 129 178 134 1,017 July 25 492 1,683 306 977 i 245 243 1,258 241 130 179 132 1,019 Aug. 1 489 1,695 309 980 I 245 241 1,264 241 129 177 132 1,011 Aug. 8 490 1,698 306 976 248 238 1,256 242 129 174 130 1,012 Aug. 15 490 1,715 307 980 I 248 238 1,246 240 128 176 129 1,006 Aug. 22 490 1,700 306 979 j 247 239 1,259 241 129 174 128 1,006 Aug. 29 491 1,705 303 977 i 247 238 1,259 241 130 177 128 1,016 Sept. 5 1,715 301 ! 961 ! 246 236 1,256 241 130 178 128 1,019 Sept. 12 488 | 1,707 300 I 962 245 237 1,258 240 130 179 129 1,016 Sept. 19 485 1,726 296 I 964 245 236 1,266 239 131 179 131 1,005 Sept. 26 487 1,732 294 I 964 245 237 1,265 241 130 180 131 1,018 Oct. 3. 480 1,719 297 ' 962 246 237 1,263 241 131 179 131 1,010 Oct. 10... 477 1,728 291 957 247 234 1,270 241 134 179 131 1,016 Oct. 17 477 1,754 294 956 246 234 1,263 240 134 181 130 1,013 Oct. 24. 474 1,760 296 ! 954 246 236 1,259 240 135 180 130 1,009 Oct. 31. 472 1,759 295 | 963 245 235 1,266 241 135 182 131 1,016 Nov. 7 471 1,749 294 | 958 244 235 1,266 240 136 181 131 1,016 Nov. 14 469 1,757 292 | 956 243 234 1,268 239 137 181 131 1,017 Nov. 21 472 1,747 296 i 957 243 237 1,268 238 137 181 132 1,016 Nov. 28 475 1,743 297 ! 958 241 235 1,270 238 137 180 132 1,013 Dec. 5 475 1,728 293 i 959 241 238 1,265 230 137 180 132 1,028 Dec. 12.._ 474 1,722 288 I 953 239 238 1,272 232 135 180 133 1,038 Dec. 19 476 1,726 292 i 949 244 237 1,275 231 137 180 139 1,038 Dec. 26 477 1,736 295 i 950 241 236 1,273 231 137 179 140 1,047 Average: January 489 1,624 296 ! 894 246 241 1,200 243 137 162 116 987 February.. 488 1,621 296 i 924 246 240 1,207 246 137 165 117 1,003 March 517 1,607 290 959 247 239 1,228 249 134 168 118 1,009 April _. 504 1,653 295 | 957 248 240 1,260 248 134 175 120 1,003 May 506 1,724 304 963 250 242 1,289 247 132 178 122 1,011 June 499 1,734 314 958 250 244 1,306 244 129 178 127 1,013 July._ 496 1,692 309 978 248 244 1,269 243 129 178 132 1,021 August 490 1,703 306 979 247 239 1,257 241 129 176 130 1,010 September. 487 1,720 298 963 246 237 1,261 240 130 179 130 1,014 October 476 1,744 295 958 246 235 1,264 241 134 180 131 1,013 November. 472 1,749 295 957 243 235 1,268 239 137 181 132 1,016 December.. 475 1,728 292 953 241 237 1,271 231 137 179 136 1,038 i This series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
207 REPORTING MEMBER BANKS IN EACH DISTRICT No. 111.—REPORTING MEMBER BANKS—RESERVE BALANCES, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District B t o o s n - Y N o e r w k - a P p d h h e i i l l a - - C la le n v d e- m Ri o c n h d - la A n t t - a c C a h g i o - Lo S u t i . s n M o e l a i i n p s - - K C s a i a t n s y - Dallas c F i S r s a a c n o n - 1 1928 Jan.4 106 896 83 122 273 50 25 57 33 118 Jan. 11 106 860 87 132 269 51 27 57 34 122 Jan.18. 105 849 86 130 270 51 25 56 34 114 Jan. 25... 101 788 84 131 263 51 25 56 33 114 Feb.1 99 838 82 130 262 52 25 55 36 117 Feb. 8 101 836 80 128 261 50 26 57 35 118 Feb. 15.. 100 817 81 125 264 51 25 56 37 121 Feb. 21 101 797 83 130 263 48 29 56 35 115 Feb. 29. _. 100 815 81 135 257 49 27 58 35 116 Mar. 7 100 814 81 129 259 49 27 58 35 106 Mar. 14 106 797 81 126 261 50 25 59 35 111 Mar. 21 106 782 84 127 254 48 26 57 32 110 Mar. 28 _ 101 821 79 129 252 47 26 59 34 113 Apr. 4 108 831 84 130 260 48 26 58 35 115 Apr. 11... 107 865 86 132 254 48 27 58 33 116 Apr. 18 106 821 84 135 253 48 28 57 34 117 Apr. 25 105 850 82 134 269 49 26 | 59 32 116 May 2 105 865 86 131 265 48 25 56 33 118 May 9 103 846 83 136 271 49 25 57 34 117 May 16 101 822 82 131 267 48 25 56 34 116 May 23 106 828 81 128 256 48 25 56 33 116 May 29-30 100 813 84 134 259 46 23 55 33 117 June 6_ 102 828 85 131 258 46 28 55 33 114 June 13 100 818 83 131 267 46 28 56 33 120 June 20 99 802 78 130 258 45 24 54 33 119 June 27__ 98 821 79 128 256 46 26 56 33 116 July 3 101 817 84 133 291 43 24 60 32 119 July 11 99 810 83 128 266 48 24 56 34 119 July 18 99 777 81 127 255 44 24 54 34 118 July 25 97 769 78 131 258 46 24 56 34 118 Aug. 1 96 818 77 130 263 45 24 58 33 115 Aug. 8 100 747 77 125 258 45 22 53 32 115 Aug. 15 99 758 79 128 258 45 23 57 32 114 Aug. 22 97 753 78 130 257 43 24 58 33 116 Aug. 29.. 98 756 76 131 247 46 23 57 33 115 Sept. 5 101 748 78 130 255 45 24 57 33 117 Sept. 12 97 795 78 131 267 46 26 56 36 121 Sept. 19 97 804 76 134 267 46 26 56 33 120 Sept. 26.. 100 768 76 133 260 46 25 54 33 117 Oct. 3. 103 781 81 132 256 46 26 58 34 120 Oct. 10. 102 760 78 131 257 48 25 54 35 116 Oct. 17__ 103 786 78 128 260 47 28 57 37 120 Oct. 24 102 762 79 129 261 46 27 57 36 118 Oct. 31. 102 821 77 130 253 45 28 54 35 118 Nov. 7 100 773 79 130 259 48 26 57 36 118 Nov. 14 102 771 79 131 ! 267 47 27 56 34 123 Nov. 21 100 781 79 126 268 47 26 55 36 123 Nov. 28 _. 97 807 78 125 i 262 47 26 55 37 117 Dec. 5.... 101 787 80 132 ! 262 48 25 56 35 122 Dec. 12 101 840 78 125 I 269 50 28 59 38 113 Dec. 19 98 801 77 117 ! 263 46 24 55 35 112 Dec. 26 101 830 80 129 269 49 26 58 36 114 Average: January.... 104 848 85 129 269 51 56 34 117 February.. 100 821 82 130 262 50 56 36 117 March 103 804 81 128 257 48 58 34 110 April 106 842 84 133 259 48 58 33 116 May 103 835 83 132 264 48 56 33 117 June 100 817 81 130 260 46 55 33 117 July 99 793 81 130 268 45 57 34 118 August 98 767 78 129 257 45 57 33 115 September. 99 779 77 132 262 46 56 34 119 October.... 102 782 79 130 258 46 56 35 119 November. 100 783 79 128 264 47 56 36 120 December. 100 815 79 126 266 48 57 36 115 1 This series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
208 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 112.—REPORTING MEMBER BANKS—BORROWINGS AT FEDERAL RESERVE BANKS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District B to o n s- Y N o e r w k P a p d h h e i i l l a - - C l l a e n v d e- m Ri o c n h d - l A a t nt - a c C a h g i o - Lo S u t i . s n M o e i l a i n p s - - K C s a i a t n s y - Dallas F c S i r s a a c n n o - 1 Jan. 4... 155 37 56 18 21 46 13 2 Jan. 11 127 21 41 14 19 47 6 1 Jan.18 64 17 40 19 18 47 10 2 Jan. 25. _. 93 10 25 15 19 28 8 2 Feb. 1 92 26 25 20 16 23 12 2 Feb. 8. 103 26 36 17 17 34 12 1 Feb. 15.. 130 39 37 15 14 32 15 2 Feb. 21 .... 63 33 46 18 19 45 21 3 Feb. 29 53 39 57 19 15 42 20 2 Mar. 7 101 23 45 14 15 45 17 Mar. 14 88 32 44 18 11 36 18 Mar. 21 60 25 46 17 11 70 21 4 7 Mar. 28 129 23 42 14 11 53 14 2 7 Apr. 4 183 25 39 17 16 73 17 5 13 Apr. 11 178 36 54 19 14 52 15 6 15 Apr. 18 124 29 46 18 28 56 29 12 19 Apr. 25 207 23 46 20 31 78 22 12 14 May 2__ 211 33 52 24 31 75 26 12 20 May 9 252 24 55 22 31 86 19 8 15 May 16 254 31 47 25 28 94 23 7 17 May 23 264 29 58 24 35 77 32 8 17 May 29-30 276 54 59 28 37 102 34 8 18 June 6 316 34 72 25 44 100 34 7 17 June 13 348 35 77 24 48 119 35 6 16 June 20 329 54 65 26 40 106 39 5 18 June 27 319 65 78 29 37 133 34 5 12 July 3 384 73 100 29 44 156 39 6 18 July 11. 404 54 85 31 46 115 31 5 15 July 18... 260 62 77 29 54 130 44 7 22 July 25 268 56 82 33 47 129 37 10 19 Aug. 1__ 301 64 72 30 45 158 37 11 16 Aug. 8_ 288 60 70 28 49 137 37 10 18 Aug. 15 231 68 63 27 50 125 36 13 16 Aug. 22 271 69 53 27 46 124 47 13 16 Aug. 29 246 74 65 31 48 113 44 13 20 | Sept. 5 _. 302 74 60 31 50 87 47 13 15 Sept. 12 308 74 71 26 52 75 46 14 19 I S S e e p p t t . . 2 1 6 9 _. 3 28 4 3 9 7 7 6 8 5 5 6 5 2 2 6 8 5 5 7 7 9 9 3 9 4 4 2 0 1 1 2 2 21 ! 16 Oct. 3.... 307 75 56 22 53 102 39 10 14 Oct. 10. 292 78 63 22 48 89 29 11 13 Oct. 17 254 54 61 21 48 105 33 16 19 Oct. 24 _... 203 50 63 24 48 122 31 16 23 Oct. 31 214 57 56 23 47 143 35 9 20 Nov. 7 250 51 70 24 45 129 28 10 23 Nov. 14 152 60 79 26 42 104 34 14 22 Nov. 21 128 42 66 21 38 114 29 10 28 Nov. 28 272 46 80 25 35 119 24 10 Dec. 5 287 46 74 19 34 160 24 5 Dec. 12 283 56 104 25 30 141 24 8 Dec. 19 186 61 83 24 34 145 27 4 Dec. 26 343 58 98 24 36 167 27 10 Average: January.... 110 21 41 17 19 42 9 2 February _. 88 33 40 18 16 35 16 2 March 95 26 44 15 12 51 17 1 April 173 28 46 18 22 65 21 8 May 252 34 54 24 33 87 27 9 June 328 47 73 26 43 114 36 6 July 329 61 86 30 48 133 38 7 August 267 67 65 29 48 131 40 12 September. 310 76 61 28 54 88 44 13 October 254 63 60 22 49 112 33 12 November. 200 50 74 24 40 116 29 11 December. 275 55 90 23 34 153 26 7 i This series discontinued after 1928; for figures comparable with those published currently in 1929 see Table 103 and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
209 EEPORTING MEMBER BANKS IN EACH DISTRICT BANKERS' BALANCES OF REPORTING MEMBER BANKS, BY DISTRICTS No. 113.—REPORTING MEMBER BANKS—DUE TO BANKS, BY MONTHS, 1927-28 (REVISED SERIES) [Monthly averages of weekly figures. In millions of dollars] Federal Reserve District Month B to os n - Y N o e r w k P p d h h e i i l l a - a- C la le n v d e- m Ri o c n h d - la A n t t - a c C a h g i o - L S ou t. is n M o e l a i i n p s - - K C s a a it n s y - D la a s l- F c S i r s a a c n n o - 1927 January - February. 131 1,021 179 251 114 121 506 150 94 229 112 242 March 130 1,051 179 246 114 113 525 149 95 228 104 217 April 137 1,019 177 248 114 111 511 144 90 212 97 210 May__ . . 128 1,009 176 243 114 111 517 139 82 200 96 214 June 132 1,044 171 239 113 104 494 133 83 199 90 207 July... 150 1,038 176 249 117 108 509 136 82 214 87 219 August... 141 1,027 175 259 120 112 514 130 80 226 88 219 September 132 1,042 176 256 124 128 523 134 97 216 112 214 October 138 1,070 181 257 126 138 521 143 110 213 128 221 November 148 1,172 181 262 136 135 513 155 110 218 134 244 December 141 1,114 175 259 132 131 508 157 105 228 130 243 1928 January 159 1,207 212 266 129 136 529 161 102 228 122 233 February 141 1,165 199 267 117 129 527 155 102 236 117 220 March 134 1,156 197 243 109 122 533 136 109 230 102 219 April 142 1,119 195 240 105 119 530 129 100 215 98 214 May. 130 1,084 182 229 102 114 502 126 94 210 95 194 June 117 996 171 214 97 103 503 119 91 201 90 196 July . 123 1,021 170 215 98 98 493 119 88 224 90 197 August. 110 961 160 210 92 92 483 112 81 230 85 184 September 119 995 168 232 98 95 498 119 89 223 107 204 October 124 1,054 174 233 108 107 492 128 100 221 127 204 November 124 1,043 175 222 112 115 469 134 96 213 131 206 December . 117 1,015 170 214 114 123 475 141 94 222 127 200 No. 114.—REPORTING MEMBER BANKS—DUE FROM BANKS, BY MONTHS, 1927-28 (REVISED SERIES) [Monthly averages of weekly figures. In millions of dollars] Month Bos- New Phila- Cleve- ton York del- land phia 1927 January February 53 134 64 105 March 54 143 61 109 April 63 147 60 107 May 57 142 59 106 June .. 59 135 62 107 July._ ._ 60 132 57 103 August 59 124 58 108 September 57 134 58 108 October 68 150 58 110 November 62 144 67 110 December 58 142 58 99 1928 January 71 158 65 111 February 57 147 58 102 March 51 150 61 97 April. 59 167 63 97 May 53 157 62 94 June 49 143 58 88 July 56 142 59 94 August 47 121 55 September 49 138 57 October 52 139 61 November 51 146 62 December 49 147 61 DC OC OC OC OC OC OC OC OOOO Federal Reserve District m Ri o c n h d - la A n t t - a c C a h g i o - L S ou t. is n M o e l a i i n p s - - K C s a a it n s y - D la a s l- F c S i r s a a c n n o - 56 • 78 227 65 48 136 69 136 56 74 241 62 47 133 66 141 54 71 239 58 46 120 64 140 56 69 260 55 45 108 62 140 56 71 238 54 49 113 58 143 57 76 236 52 52 118 57 142 55 78 229 50 48 114 56 146 58 87 242 50 59 115 68 152 61 94 238 57 67 122 70 151 63 91 244 61 63 129 72 163 58 86 237 59 52 126 69 165 59 86 233 63 51 127 68 170 54 77 230 58 49 126 63 159 52 75 233 53 48 122 58 160 53 77 242 54 44 120 60 149 49 72 253 51 48 112 58 145 51 67 250 48 46 112 59 146 49 68 242 47 51 123 56 144 46 65 224 44 47 118 53 133 47 71 251 47 51 124 63 146 54 80 242 53 57 125 67 141 56 85 245 58 59 127 70 145 53 83 236 60 56 127 68 143 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
210 ANNUAL REPOET OF THE FEDERAL RESERVE BOARD BANK SUSPENSIONS No. 115.—BANKS SUSPENDED AND REOPENED, BY DISTRICTS, 1928 Banks suspended Banks reopened Class of bank and Federal reserve district Number Capital Deposits Number Capital Deposits All^banks, total 491 $19,715,000 $138,642,000 39 $1,540,000 $15,727,000 Boston 1 100,000 1,078,000 New York 3 45,000 1,356,000 Philadelphia 1 80, 000 425, 000 Cleveland 17 840, 000 7,563, 000 4 180,000 1,277,000 Richmond 43 2, 783,000 13,339, 000 3 91,000 712,000 Atlanta 66 4, 263,000 35,395, 000 3 365,000 6,591, 000 Chicago _ -_ 87 3,310,000 21, 746, 000 7 325,000 2,573,000 St. Louis 57 2,035, 000 12, 792, 000 5 110,000 876,000 Minneapolis 94 2,114,000 17,147,000 12 214,000 2,144,000 Kansas City 88 2,512, 000 15,642,000 1 50,000 250,000 Dallas 24 1,056, 000 7,391,000 2 120,000 735,000 San Francisco 10 577,000 4, 768, 000 2 85,000 569,000 Member banks, total 73 5,175,000 42,240,000 5 325,000 6, 610,000 Boston _. 1 100, 000 1,078,000 New York .. Philadelphia... 1 80,000 425,000 Cleveland 4 235,000 1, 979, 000 1 100,000 816,000 Richmond 10 650,0000 3,417,000 1 50, 000 252,000 Atlanta 7 1, 275, 000 16,099, 000 1 100, 000 5,138, 000 Chicago _ 21 1,150,000 7,495,000 1 50,000 239,000 St. Louis 2 150,000 660,000 1 25, 000 165,000 Minneapolis 10 550,000 5,106,000 Kansas City .._ 9 455,000 2,466,000 Dallas 5 255,000 986,000 San Francisco 3 275, 000 2,529, 000 National bank members, total.-. 57 4, 200,000 31,619,000 2 75,000 417,000 Boston _ 1 100,000 1, 078,000 New York Philadelphia 1 80,000 425,000 Cleveland 2 110,000 946,000 Richmond 9 550,000 2, 934,000 1 50,000 252,000 Atlanta _ 4 1,000,000 9, 768,000 Chicago 13 750,000 5, 033,000 St. Louis. 2 150,000 660,000 1 25, 000 165,000 Minneapolis- 10 550,000 5,106,000 Kansas City 9 455,000 2, 466,000 Dallas _ 4 205,000 840,000 San Francisco 2 250,000 2,363,000 State bank members, total. 16 975, 000 10,621,000 3 250,000 6,193,000 Boston New York... Philadelphia Cleveland ._ 2 125,000 1,033,000 1 100,000 816,000 Richmond 1 100,000 483,000 Atlanta _ 3 275,000 6,331,000 1 100,000 5,138,000 Chicago 8 400,000 2,462,000 1 50,000 239,000 St. Louis Minneapolis Kansas City. Dallas— 1 50,000 146,000 San Francisco 1 25,000 166.000 Nonmember banks, total 418 14,540,000 96,402,000 34 1,215,000 9,117,000 Boston New York 3 45, 000 1,356,000 Philadelphia Cleveland . __ 13 605,000 5,584,666 3 80,000 461,000 Richmond 33 2,133.000 9, 922,000 2 41,000 460, 000 Atlanta 59 2,988,000 19,296,000 2 265,000 1,453,000 Chicago 66 2,160,000 14,251,000 6 275,000 2, 334, 000 St. Louis 55 1, 885,000 12,132,000 4 85,000 711.000 Minneapolis.. 84 1,564,000 12,041,000 12 214,000 2,144,000 Kansas City 79 2,057,000 13,176,000 1 50,000 250,000 Dallas 19 801,000 6,405,000 2 120,000 735,000 San Francisco.. 7 302,000 2,239,000 2 85,000 569,000 Back figures—See Annual Reports for 1927 (Table 111) and 1926 (Table 98). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BANK SUSPENSIONS, BY STATES 211 No. 116.—BANKS SUSPENDED AND REOPENED, BY STATES, 1928 [Figures are for member and nonmember banks] 3anks suspended Banks reopened State Number Capital Deposits Number Capital Deposits United States 491 $19, 715, 000 $138, 642, 000 39 $1,540,000 $15, 727,000 New England: Rhode Island 1 100,000 1,078, 000 Middle Atlantic: New York 3 45, 000 1, 356. 000 Pennsylvania.. 1 50, 000 53, 000 East North Central: Ohio. 11 615, 000 5,315, 000 4 180, 000 1, 277, 000 Indiana 24 847, 000 5,456, 000 4 175, 000 1, 535, 000 Illinois _ __ 18 675, 000 4, 797, 000 4 175, 000 1, 203, 000 Wisconsin 6 150,000 1,640, 000 West North Central: Minnesota 46 1, 047, 000 9, 805, 000 9 174, 000 1, 676, 000 Iowa . 51 2, 008, 000 12, 033, 000 Missouri 31 951,000 4,091, 000 4 125,000 886, 000 North Dakota 38 752, 000 5,143, 000 2 25, 000 290, 000 South Dakota « _ __ 250,000 1, 912, 000 1 15, 000 178, 000 Nebraska 50 1,306, 000 8, 973, 000 Kansas 26 850,000 4,366,000 South Atlantic: __ Delaware 1 80, 000 425, 000 Maryland 1 0) 194, 000 "" V W ir e g st i n V ia irginia 7 5 505, 000 1 1, , 8 6 9 7 9 8 , , 0 0 0 0 0 0 1 25, 000 349, 000 North Carolina 8 4 40 6 2 5 , , 0 0 0 0 0 0 2,118, 000 1 50, 000 252, 000 South Carolina 22 1,411, 000 7,450, 000 1 16, 000 111, 000 Georgia __ 26 1, 636, 000 12, 616, 000 Florida 35 2,442, 000 20,841, 000 3 365, 000 6, 591, 000 East South Central: Kentucky 7 220, 000 2,395, 000 Tennessee 4 385, 000 3,390, 000 Mississippi 4 110, 000 1,818, 000 West South Central: Arkansas 14 445, 000 3,370, 000 1 10,000 75, 000 Louisiana 2 65, 000 421, 000 Oklahoma 5 130, 000 1,161, 000 Texas. 23 1, 041, 000 7,332, 000 2 120, 000 735, 000 Mountain: Montana 1 20, 000 14, 000 Idaho 2 75, 000 287,000 Colorado 3 135, 000 734, 000 Utah 2 62, 000 669,000 1 35,000 432, 000 Nevada 1 50, 000 138, 000 1 50,000 137, 000 Pacific: Washington 2 115, 000 821,000 Oregon 3 275, 000 2,853, 000 1 Mutual savings bank without capital stock. Back figures' See Annual Reports for 1927 (Table 112), 1926 (Table 100), and 1925 (Tables 97 and 98). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CHANGES IN MEMBERSHIP IN FEDERAL RESERVE SYSTEM to to No. 117.—CHANGES IN MEMBERSHIP IN THE FEDERAL RESEEVE SYSTEM DUKING 1928 BY DISTRICTS Boston district New York district Philad t e r l i p c h t ia dis- Cleveland district Richmond district Atlanta district Procedure affecting change Total ti N on a a - l 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 a - l State Active member banks, Dec. 31,1927. _ _ . 413 376 37 937 771 166 777 687 90 835 726 109 564 512 52 464 380 84 Additions to membership: Organization of national bank 7 7 19 19 11 11 1 1 6 6 Conversion of nonmember bank to national 2 2 3 3 1 1 1 1 Admission of State bank 4 4 4 4 2 2 1 1 Resumption following suspension. 1 1 1 1 1 1 Conversion within the system 12 i 1 i 1 i 1 i l 1 Total additions 7 7 0 25 23 5 18 14 5 4 1 4 2 2 1 9 7 2 Losses to membership: Merger between members— Intraclass __- 4 3 1 10 7 3 6 6 5 4 1 2 2 5 4 1 Volu In n t t e a r r c y l a li s q s uidation (terminal).. _ 3 3 12 2 10 2 2 1 1 1 1 1 1 2 1 I Suspension and insolvency 1 1 1 1 4 2 2 10 9 1 7 4 3 Absorption of member by nonmember 2 2 2 1 1 2 2 7 7 3 2 1 1 1 Conversion of member to nonmember 1 1 3 3 1 1 Withdrawal of State bank . _ . . 1 1 3 3 6 6 2 2 5 5 Conversion within the system 1 1 12 i 1 .. |rvr i I Total losses . .. ._ 12 10 2 24 19 8 17 14 4 23 15 9 19 15 5 20 10 10 3 Net change .- .. -5 -3 -2 +1 +4 Q +1 +1 -19 -14 -5 -17 -13 -4 -11 -3 -8 H Active member banks, Dec. 31, 1928 ._ 408 373 35 938 775 163 778 687 91 816 712 104 547 499 48 453 377 76 W O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Chicago district St. Louis district Minne t a r p ic o t lis dis- Kansa t s r i C ct ity dis- Procedure affecting change Total ti N on a a - l StateTotal ti N on a- al State Total ti N on a- al State Total Active member banks, Dec 31, 1927 1,290 982 308 594 483 111 735 674 61 968 Additions to membership: Organization of national bank- 7 7 2 2 2 2 Conversion of nonmember bank to national 1 1 3 3 Admission of State bank 5 5 2 2 1 1 Resumption following suspension 1 1 1 1 Conversion within the system l 1 Total additions 14 9 6 5 4 2 6 5 1 Losses to membership: Merger between members— Intraclass 10 9 31 2 1 1 3 3 Interclass 4 4 2 2 1 1 Voluntary liquidation (terminal) 2 1 1 1 1 Suspension and insolvency 21 13 8 2 2 10 10 Absorption of member by nonmember ___ 5 4 1 3 2 1 3 1 2 Conversion of member to nonmember 2 2 1 1 Withdrawal of State bank 8 8 2 2 4 4 Conversion within the system _ i 1 l 1 Total losses 52 27 26 12 5 8 22 16 6 Net change - -38 -18 -20 -7 -1 -6 -16 -11 -5 Active member banks, Dec. 31,1928 1,252 964 288 587 482 105 719 663 56 coco Na- tional 941 6 12 1 9 7 7 6 42 -36 932 coco Dallas district State Total 27 799 6 12 1 9 7 7 <6 36 6 -30 —6 911 21 ot ot ot Na- tional 701 2 2 6 4 7 7 3 3 4 3 2 3 25 -19 780 ot ot ococ San Francisco dis- trict State Total ti N on a a - lState 98 658 526 132 10 10 2 1 1 § 2 2 2 l ] 2 13 12 2 B 12 12 w 1 1 1 H 1 s 1 3 2 1 21 18 «3 2 3 7 67 i 1 17 8 44 40 5 -13 -6 -31 -28 Q w 688 92 627 498 129 1 Succession between members of one class and members of the other without effect on the number of banks in the system. 2 Includes 5 instances in which national banks were converted into or absosorbed by nonmember banks which were subsequently absorbed by a member State bank. S3 3 Includes an instance in which 2 State member banks were succeeded by a single State member organized for the purpose. 4 Includes 3 compulsory withdrawals. 5 Includes a national bank which merged with a nonmember that was subsequently admitted to membership and so classified. M 8 Includes a State bank which was succeeded by a nonmember that was subsequently admitted to membership and so classified. Back figures.—See Annual Reports for 1927 (Table 117), 1926 (Table 97), and 1925 (Table 94). to GO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
214 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS No. 118.—MEMBER BANKS—-EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1924-1928 [In thousands of dollars] Total Total Net Net ad- Divi- District and year ending June 30 expenses net losses dition to dends earnings charged profits declared off Boston: 1924 120,742 87,914 32,828 12, 618 20,210 16, 651 1925 131, 456 93,492 37, 964 14, 704 23, 260 17, 258 1926 138,040 100,017 38,023 9,850 28,173 18, 641 1 1 9 9 2 2 7 8 1 1 4 5 8 9 , , 4 6 1 2 3 9 1 1 0 1 7 4 , , 4 5 9 2 9 7 4 40 5 , , 1 8 3 8 0 6 1 13 5 , , 3 30 3 9 7 2 3 5 1 , , 8 5 2 4 1 9 2 20 0 , , 1 8 4 5 5 9 New York: 1924 473, 333 324, 597 148, 736 32, 302 116.434 78,198 1925 514, 053 348,252 165, 801 31,275 134, 526 81,526 1926 564, 605 380.170 184, 435 34,914 149, 521 89,147 1927 607,316 409, 335 197, 981 29, 600 168, 381 97, 859 1928 668, 002 444, 702 223,300 37, 741 185, 559 107, 226 Philadelphia: 1924 124, 724 80, 057 44, 667 5,935 38, 732 20,827 1925 134,631 87,878 46, 753 3,672 43, 081 23,004 1 1 1 9 9 9 2 2 2 6 7 8 1 1 1 4 6 5 8 1 5 , , , 4 3 3 8 4 8 0 0 2 1 1 9 0 0 6 8 2 , , , 9 3 0 2 2 0 1 6 9 5 5 5 3 2 2 , , , 1 4 3 5 1 7 4 9 3 8 6 6 , , , 3 5 7 1 7 0 9 5 2 4 4 45 5 4 , , , 6 9 7 3 9 17 5 8 2 2 2 4 6 6 , , , 5 4 8 3 9 0 3 3 7 Cleveland: 1924 183, 860 132, 544 51,316 10, 575 40, 741 26, 529 1925 199.114 142, 792 56, 322 10.956 45, 366 26, 715 1 1 9 9 2 2 6 7 2 2 0 1 4 3 , , 5 7 3 9 2 8 1 1 4 5 9 5 , , 5 0 0 5 7 9 5 58 5 , , 2 4 9 7 1 3 1 1 2 6 , , 0 51 3 2 1 4 42 2 , , 9 2 6 6 1 0 2 27 8 , , 4 6 1 3 6 6 1928 220.115 162, 218 57,897 13, 713 44,184 28, 737 Richmond: 1924 77, 685 55,103 22, 582 5,649 16, 933 13,151 1 1 9 92 2 6 5 8 7 3 9 , , 0 3 8 1 2 1 5 5 7 9 , , 6 6 9 5 2 9 2 23 1 , , 6 3 5 9 2 0 6 5 , , 6 8 0 0 9 4 1 16 5 , , 7 84 8 8 1 1 1 2 5 , , 6 7 1 0 8 9 1927 84, 385 60,973 23,412 7,216 16,196 13,096 1928 87, 233 63, 227 24,006 7,847 16,159 12, 756 Atlanta: 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 7 6 4 8 5 8 8 8 7 7 9 3 3 5 0 , , , , , 1 0 0 2 0 8 9 1 9 7 7 1 8 1 7 6 5 6 6 5 1 0 1 3 1 , , , , , 7 9 3 2 5 4 9 0 5 3 3 3 5 5 7 2 2 2 2 1 2 1 1 8 7 , , , , , 3 8 4 2 8 4 3 8 8 8 8 6 1 4 2 7 7 9 8 6 , , , , , 5 8 2 7 3 9 9 2 9 4 9 4 5 3 9 1 1 1 1 1 3 2 2 3 9 , , , , , 0 5 9 5 8 5 5 4 3 8 9 5 2 3 2 1 1 1 1 1 0 1 2 1 1 , , , , , 9 7 7 2 2 0 6 4 4 0 8 0 6 7 8 Chicago: 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 4 6 7 5 8 . . . . . _ . 2 2 3 2 2 8 6 9 1 5 4 2 6 1 3 , , , , , 2 4 4 0 1 4 8 8 8 4 7 0 6 4 2 2 2 2 1 1 3 0 8 9 1 2 8 6 9 8 , , , , , 2 6 4 4 2 9 1 0 3 2 5 7 7 4 0 6 6 7 7 7 6 5 8 4 7 , , , , , 8 4 0 8 2 4 6 6 4 4 7 7 6 6 0 2 2 1 1 1 0 1 8 5 9 , , , , , 6 6 6 6 2 7 4 8 8 0 8 1 2 4 2 4 4 5 5 5 5 3 9 9 9 , , , , , 1 1 3 6 2 6 8 6 2 3 3 5 8 5 8 3 3 4 3 3 3 5 6 3 5 , , , , , 9 1 3 2 3 5 9 9 8 1 4 8 1 0 7 St. Louis: 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 4 7 6 8 5.., 7 8 7 8 8 7 5 9 7 6 , , , , , 6 8 6 9 5 9 0 9 8 4 9 5 4 6 1 5 5 6 6 6 8 2 4 4 6 . , , , , 4 3 0 6 4 7 0 7 9 8 7 1 2 0 8 2 2 2 2 2 3 1 1 3 2 , , , , , 8 2 2 0 2 9 2 3 9 5 6 2 3 3 3 8 9 6 6 5 , , , , , 1 7 1 8 7 1 0 6 4 8 9 7 5 2 6 1 1 1 1 17 2 7 3 5 , , , , , 1 2 0 5 1 0 1 0 6 8 3 1 7 8 9 1 1 1 1 1 1 3 1 2 3 , , , , , 6 9 7 7 7 8 8 2 3 4 5 8 2 2 6 Minneapolis: 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 4 6 5 7 8 5 5 5 5 5 8 6 8 7 5 , , , , , 3 6 9 2 7 5 8 3 1 5 4 3 6 0 0 4 4 4 4 4 7 9 3 3 4 , , , , , 0 7 0 0 7 8 0 6 4 2 5 0 3 4 4 1 1 1 1 2 3 9 1 2 , , , , , 5 2 1 6 6 6 3 9 3 8 6 6 8 0 7 7 7 5 6 5 , , , , , 7 7 5 4 6 1 2 0 4 3 9 9 6 3 5 3 6 7 6 1, , , , , 1 7 5 9 8 8 9 6 0 4 1 3 3 1 7 5 5 5 5 5 , , , , , 3 5 5 6 7 0 4 6 9 8 2 4 0 9 0 Kansas City: Dall 1 1 1 1 1 a 9 9 9 9 9 s 2 2 2 2 2 : 4 6 5 8 7 8 8 8 8 8 0 1 4 3 2 , , , , , 1 0 7 0 2 3 8 4 4 6 2 0 8 1 7 6 6 6 6 6 3 2 1 3 2 , , , , , 1 4 9 0 2 0 0 1 2 3 3 1 3 4 4 2 2 1 1 1 1 1 9 8 7 , , , , , 6 2 9 2 5 6 0 5 1 4 6 7 6 9 5 1 1 1 1 3 5 1 9 2 , , , , , 6 0 6 8 3 7 6 5 9 2 1 9 3 3 2 11 7 8 2 5 , , , , , 6 6 6 5 5 0 5 2 6 3 3 7 3 6 6 8 8 9 8 8 , , , , , 1 7 8 0 3 5 3 3 2 4 7 1 1 8 7 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 4 6 8 7 5 6 6 6 6 5 0 4 1 9 3 , , , , , 1 3 5 2 3 9 9 7 4 6 3 1 0 4 2 4 4 4 4 4 3 2 2 4 3 , , , , , 1 9 2 9 8 3 3 1 4 7 1 9 5 5 2 1 1 1 1 1 7 7 9 9 7 , , , , , 4 2 9 2 6 9 3 9 5 7 8 9 1 2 8 9 8 9 7 7 , , , , , 9 4 0 9 6 1 8 4 3 7 9 0 4 9 4 1 10 9 9 2 7 , , , , , 0 2 3 3 6 1 8 9 0 0 8 0 2 8 4 1 8 9 8 9 0 , , , , , 1 2 1 4 3 5 8 4 6 1 6 9 8 7 8 San Francisco: 1 1 1 1 1 9 9 9 9 9 2 2 2 2 2 5 6 4 7 8 1 1 1 2 1 5 0 9 7 8 9 8 3 0 3 , , , , , 1 6 7 6 5 3 8 2 3 2 4 4 1 6 9 1 1 1 1 1 3 2 4 4 6 2 1 0 6 0 , , , , , 4 0 6 2 5 4 9 5 0 0 1 3 0 8 4 3 3 4 4 48 3 7 8 7 , , , , , 0 4 9 0 2 2 7 8 4 8 5 6 6 0 1 1 1 2 1 1 4 0 6 4 2 , , , , , 1 3 4 7 9 8 2 1 4 6 2 3 8 8 9 2 2 2 3 2 5 3 0 9 7 , , , , , 8 2 0 0 9 5 6 5 2 5 9 8 7 7 7 1 2 2 3 1 9 2 1 9 3 , , , , , 7 0 0 8 2 1 2 3 7 4 3 5 1 7 0 Back figures.—See Annual Report for 1927 (Table 118). Ratios.—For district ratios of figures given, which relate to fiscal years, to average earning assets, etc., see Federal Reserve Bulletins as follows: 1928—December, p. 879; 1927—January, pp. 26-28; December, pp. 883-884; 1925—December, pp. 872-873. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EARNINGS AND EXPENSES OF MEMBER BANKS 215 No. 119.—NATIONAL BANKS l—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1924-1928 [Amounts in thousands of dollars] District and year ending June 30 ea G rn ro in ss gs ex T p o e t n a s l es ea T r n o n e t i t n al gs c l h o N a s r s e g e t e s d d N p it r e i o t o f n i a t d s to - de d D c e l i n a v d r i e - s d off Boston: 1924_. 80,837 57,827 23, 010 9,650 13, 360 12,0*3 1925 88,983 61,839 27,144 11, 297 15,847 12,472 1926_ 92, 214 65,676 26, 538 6,897 19, 641 13,642 1927 98, 200 69,154 29,046 12, 716 16, 330 14, 243 1928_ 106,268 74, 620 31, 648 10,839 20, 809 14,654 New York: 1924 246,192 164,308 81, 884 23, 059 58,825 41,871 1925. 269, 596 180, 239 89, 357 18,647 70, 710 43, 280 1926 290,138 193, 722 96, 416 24,860 71, 556 46,183 1927 302,553 201,892 100, 661 16, 510 84,151 50,438 1928. 326, 641 217, 385 109, 256 26,313 82, 943 52,496 Philadelphia: 1924 91, 267 59,041 32, 226 5,554 26,672 14,188 1925 97,425 63, 771 33, 654 3,684 29, 970 15,629 1926. 105,882 68,117 37, 765 5, 775 31, 990 16,105 1927 109,098 72, 713 36,385 5,403 30, 982 17,842 1928.. 110, 689 73, 915 36, 774 6,421 30, 353 17,168 Cleveland: 1924 102,867 72,805 30,062 6,306 23, 756 15,861 1925 109,002 76, 661 32, 341 6,697 25, 644 15, 705 1 1 1 9 9 9 2 2 2 6 7 8 . . 1 1 1 1 1 1 0 3 2 , , , 4 3 4 6 4 2 1 1 3 8 8 7 2 9 1 , , , 0 2 7 2 0 3 3 2 0 3 3 3 0 1 1 , , , 1 4 7 3 0 3 9 0 1 1 8 1 6 , , , 0 9 0 6 5 4 1 3 9 2 2 2 3 0 3 , , , 0 3 7 7 5 7 8 1 8 1 1 1 5 6 5 , , , 1 2 7 2 8 4 1 6 4 Richmond: 1924 65, 358 46, 200 19,158 4,841 14, 317 11, 388 1925 65,897 47,869 18,028 5,295 12, 733 10,816 1926 68,353 48,801 19, 552 5,602 13, 950 13, 590 1927 68,658 49, 559 19,099 6,077 13, 022 10, 956 1928. 70,610 51,366 19, 244 5,860 13, 384 10, 623 Atlanta: 1924 44, 581 32, 363 12, 218 3,847 8,371 8,041 1925. 48, 757 34, 693 14,064 4,684 9,380 7,110 1926 59, 757 41,152 18,605 4,508 14,097 8,388 1927 58,473 42,919 15, 554 6,077 9,477 8,819 1928 62, 438 46, 224 16, 214 6,486 9,728 8,392 Chicago: 1924 137, 243 101, 692 35, 551 14, 342 21, 209 20,019 1925 136, 776 101,958 34,818 14, 545 20, 273 18,731 1926. 143, 770 106, 111 37, 659 11, 225 26, 434 19, 653 1927 149, 420 109, 604 39,816 11,003 28,813 19, 574 1928 160, 244 118,428 41,816 13, 930 27,886 27, 679 St. Louis: 1924... 45, 870 33,069 12,801 4,358 8,443 8,955 1925 46, 783 33,408 13, 375 3,547 9,828 7,835 1 1 1 9 9 9 2 2 2 7 6 8 4 5 5 9 3 1 , , , 3 1 4 7 8 5 6 4 9 3 3 3 9 5 8 , , , 8 0 8 6 9 7 3 4 5 1 1 1 4 2 3 , , , 0 5 5 1 9 8 3 0 4 3 3 3 , , , 5 7 9 5 6 0 2 1 0 10 9 8 , , , 7 6 5 5 8 3 2 4 8 9 8 7 , , , 3 5 7 9 3 2 4 7 2 Minneapolis: 1924. 52, 751 44,117 8,634 6,964 1,670 5,151 1925... 52,998 42,645 10, 353 6,844 3,509 4,915 1926 52,128 40,961 11,167 4,862 6,305 5,183 1927 51, 711 39, 915 11, 796 5,766 6,030 5,379 1928 53, 376 40, 761 12, 615 5,126 7,489 5,461 Kansas City: 1924 73, 769 57,407 16, 362 14, 761 1,601 7,768 1925 72, 047 55,805 16, 242 11,465 4,777 7,212 1926. 73, 280 55, 459 17, 821 11,315 6,506 7,058 1927 74, 233 54,815 19,418 11,822 7,596 7,397 1928 75, 636 56, 553 19,083 8,530 10, 553 8,867 Dallas: 1924.. 52, 849 37, 724 15,125 8,407 6,718 7, 325 1925__ 53, 663 38, 062 15, 601 6,614 8,987 9,815 1926 59,006 40, 326 18, 680 6,799 11,881 9,123 1927 58, 053 41, 355 16, 698 7,863 8,835 8,022 1928. 61,111 42, 535 18, 576 8,046 10, 530 San Francisco: 1924 80, 429 59,143 21, 286 10, 705 10, 581 10,947 1925 81, 556 61, 371 20,185 8,085 12,100 11, 399 1926 87, 079 65, 297 21, 782 8,662 13,120 10,429 1927 108, 064 80, 060 28,004 10, 267 17, 737 13, 279 1928 150, 025 114,048 35, 977 13, 346 22, 631 27, 224 i Member banks only, i. e., exclusive of national banks in Alaska and Hawaii. Back figures.—See Annual Report for 1927 (Table 119). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
216 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 120.—STATE BANK MEMBERS—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1924-1928 [Amounts in thousands of dollars] District and year ending June 30 ea G rn ro in ss gs ex T p o e t n a s l es ea T r n o n e i t t n al gs ch lo N a o s r f e s g f t e e s d d N p it e r i o t o f n i a t d s t - o de d D c e i l n v a d r i- e s d Boston: 1924 39,905 30,087 9,818 2,968 6,850 4,578 1925 42, 473 31, 653 10,820 3,407 7,413 4,786 1926 45, 826 34, 341 11, 485 2,953 8,532 4,999 1927 50, 213 38, 373 11, 840 2,621 9,219 5,902 1928. 53,361 39,879 13,482 2,470 11,012 6,205 New York: 1924 227,141 160, 289 66, 852 9,243 57,609 36, 327 1925 244,457 168,013 76,444 12,628 63, 816 38, 246 1926. 274,467 186,448 88,019 10,054 77,965 42,964 1927___ 304, 763 207,443 97,320 13,090 84, 230 47,421 19J28 341,361 227,317 114,044 11,428 102, 616 54,730 Philadelphia: 1924 33,457 21,016 12,441 381 12,060 6,639 1925 37, 206 24,107 13,099 -12 13, 111 7,375 1926 42, 598 28, 209 14, 389 744 13,645 8,428 1927 46,242 30, 208 16,034 1,299 14, 735 8,651 1928.. 50, 693 34,094 16, 599 1,954 14, 645 9,639 Cleveland: 1924 80,993 59, 739 21, 254 4,269 16, 985 10, 668 1925 90,112 66,131 23,981 4,259 19, 722 11,010 1926 94,071 69,329 24,742 5,559 19,183 11,672 1927 101, 375 74,484 26,891 4,982 21, 909 12,350 1928 106, 774 80,016 26, 758 5,652 21,106 13, 616 Eichmond: 1924 12,327 8,903 3,424 2,616 1,763 1925 13,414 9,790 3,624 509 3,115 1,893 1926 14, 729 10,891 3,838 1,007 2,831 2,028 1927 15, 727 11,414 4,313 1,139 3,174 2,140 1928 16,623 11,861 4,762 1,987 2,775 2,133 Atlanta: 1924. 25,606 18,942 6,664 2,502 4,162 3,719 1925. 26,334 18, 562 7,772 3,210 4,562 3,636 1926 29,334 20, 591 8,743 3,285 5,458 3,520 1927 24,804 18,074 6,730 3,148 3,582 3,389 1928 20, 580 15,313 5,267 2,113 3,154 2,855 Chicago: 1924. 116, 237 86,742 29,495 7,336 22,159 13,935 1925. 125, 710 94, 262 31, 448 25, 352 14, 649 1926 140, 372 103,184 37,188 4,459 32, 729 15, 638 1927 146, 664 109,013 37, 651 7,279 30,372 16,743 1928_ 151,003 113,979 37, 024 5,672 31, 352 17, 519 St. Louis: 1924. 31, 829 23,408 8,421 3,761 4,660 4,777 1925. 33, 203 24, 682 8,521 6,160 2,361 3,887 1926 36,146 26,497 9,649 2,265 7,384 4,148 1927. 35,165 25,625 9,540 3,081 6,459 4,352 1928. 34, 710 25, 507 9,203 2,234 4,266 Minneapolis: 1924. 5,859 4,927 755 177 409 1925 5,238 4,355 599 284 387 1926. 4,855 3,824 1,031 773 258 361 1927. 4,039 3,148 891 740 151 320 1928... 3,978 2,963 1,015 603 412 319 Kansas City: 1924. 8,363 6,506 1,857 965 970 1925. 8,001 6,298 1,703 857 846 945 1926. 8,500 6,765 1,735 584 1,151 973 1927 6.586 2,248 1,241 1,007 950 1928 8,605 6,481 2,124 1,141 983 954 Dallas: 1924 7,395 5,221 2,174 1,512 662 823 1925 4, 1,630 1,325 305 503 1926 4,187 1,298 875 423 344 1927 3,317 2,517 800 617 183 267 1928 3,480 2,404 1,076 78 350 San Francisco: 1924 79, 207 62, 507 16, 700 4,013 12, 687 8,078 1925 88, 578 70, 722 17, 856 4,097 13, 759 8,441 1926. 96, 605 74,911 21, 694 5,787 15,907 10. 648 1927 85, 465 66,444 19,021 6,701 12, 320 8,952 1928_ 58,696 46, 393 12, 303 6,977 5,326 Back figures.—See Annual Report for 1927 (Table 120). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDUSTRIAL AND TRADE CONDITIONS 41223—29 15 217 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDUSTRIAL AND TRADE CONDITIONS No. 121.—INDEX NUMBERS l OF PRODUCTION, EMPLOYMENT, TRADE, AND PRICES [As revised in February, 1929; see footnote 1] Building Wholesale contracts distribu- Department Department awarded tion store sales store stocks §•3 Year and •la month 1923-1925=100 1919=100 1923-1925=100 1926= 100 1919 83 84 77 64 111 79 139 1920 .__ 87 87 89 63 115 105 154 1921 67 67 70 57 87 87 89 98 1922 85 87 74 81 97 1923 101 101 105 84 101 1924 95 94 96 95 101 98 1925 104 105 99 122 102 103 102 104 1926 108 108 108 130 101 106 103 100 1927 106 106 107 128 105 97 107 103 95 1928 110 111 106 135 108 102 1919 January 82 82 79 16 61 134 February 79 81 70 30 55 130 March 76 78 66 37 90 87 66 72 131 April 78 79 71 57 97 101 78 73 133 May 78 78 74 70 102 107 75 72 135 June 83 84 76 85 105 108 74 70 136 July__._ 87 88 81 95 119 126 60 73 141 August 89 91 78 88 123 113 62 82 144 September 87 87 85 69 132 114 74 92 141 October 86 86 87 92 138 119 94 98 142 November 85 89 63 66 128 125 95 100 145 December 85 87 77 68 130 150 139 87 93 151 1920 January... 94 96 86 68 124 137 84 97 158 February. 94 96 84 60 109 121 69 89 101 157 March 93 94 87 91 138 132 95 98 107 104 159 April 87 88 82 91 126 129 92 92 110 106 166 May 90 91 85 74 122 128 100 100 107 105 167 June 90 91 88 78 120 123 97 98 104 107 167 July 88 88 88 61 120 127 75 99 103 110 166 August 89 88 91 61 123 113 74 95 108 113 161 September 86 86 85 53 123 106 85 92 117 113 155 October 83 81 91 53 107 93 104 92 119 108 144 November 76 73 94 39 94 91 109 95 114 101 133 December 71 68 94 30 87 78 145 87 90 121 1921 January 67 65 81 33 89 76 114 February 66 64 77 30 80 105 March 64 63 72 49 98 102 April 64 63 72. 66 87 99 May 66 64 73 70 83 96 June 65 64 71 66 86 87 93 July 65 64 68 62 80 63 93 August 67 67 69 64 94 66 94 September 67 67 67 71 98 73 97 93 October 71 71 71 65 100 97 100 94 November 71 71 68 56 86 95 101 94 December 70 70 69 58 72 138 93 All of the indexes given in the table (except that for prices) are those of the Federal Reserve Board. Descriptions of these indexes, and of revisions made from time to time, have been published in the Federal Reserve Bulletin as follows: Indexes of industrial production, production of manufactures, production of minerals, February and March, 1927 (certain revisions, March, 1929); indexes of factory employment and factory pay rolls, May, 1925 (certain revisions, September, 1925); indexes of building contracts awarded and freight car loadings, August, 1927 (certain revisions, March, 1929); index of wholesale distribution, December, 1927 (certain revisions, see footnote to Table 124); indexes of department-store sales and department-store stocks, February, 1928 (certain revisions, March, 1929). 2 Adjusted for seasonal variations. 3 Index of the U. S. Bureau of Labor Statistics; monthly average, 1926=100, base adopted by bureau. A description of this index was given in the Bulletin of the U. S. Bureau of Labor Statistics, No. 453, "Revised Index Numbers of Wholesale Prices, 1923-July, 1927," and in the Federal Reserve Bulletin for October, 1927. 219 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
220 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 121.—INDEX NUMBERS OF PRODUCTION, EMPLOYMENT, TRADE, AND PRICES- Continued [As revised in February, 1929; see footnote 1 on p. 219] Year and month 1922 January February March April _ ... May June. July . ... August September October November December 1923 January F ebruary March April May. June July August September October November December 1924 January February March April. May . _- June July August September October November December . 1925 January February March April. May June .- July August September October .... November December noitcudcrp lairtsudnI 73 76 80 77 81 86 86 84 88 94 97 100 100 100 103 107 107 106 104 102 100 99 98 97 100 102 101 95 89 85 84 89 94 95 97 101 106 105 105 103 103 102 104 103 102 105 107 109 -unam f)( noitcudorP serutcaf -renim f)( noitcudorP sla Building contracts awarded 1923-1925= 73 77 75 85 78 92 81 53 86 54 90 59 91 57 87 62 89 81 94 90 98 94 100 100 100 101 100 99 103 103 107 111 106 108 106 109 103 112 101 110 101 97 98 104 97 105 97 98 99 102 102 104 101 98 96 92 88 93 84 93 82 92 88 92 93 97 95 96 98 96 102 99 106 104 106 99 106 95 104 99 103 104 102 101 104 104 102 107 104 89 108 90 109 94 111 93 detsujdanU = 100 48 52 85 102 105 100 102 93 79 73 71 62 61 71 94 101 109 93 79 75 73 91 80 76 76 78 109 121 108 101 87 89 87 103 95 83 75 76 120 138 124 137 133 149 138 129 116 129 detsujdA 68 70 83 82 85 84 92 86 81 71 82 77 83 97 87 81 89 81 76 70 75 88 90 93 99 104 99 98 93 91 84 83 90 100 103 98 98 104 107 113 113 128 128 135 135 125 127 145 tnemyo]pme yrotcaF 1919 84 86 87 86 88 90 87 90 93 96 99 100 101 103 105 105 105 105 104 104 104 104 103 101 100 101 101 99 96 93 89 89 91 93 92 94 94 96 96 96 95 94 93 94 95 97 97 97 sllori yap yrotcaF = 100 78 81 83 81 85 88 85 90 94 98 102 105 104 107 113 113 117 117 113 113 114 117 115 113 108 114 113 111 105 100 92 96 99 103 101 106 103 109 110 107 107 105 102 105 104 111 112 112 sgnidaol rac-thgierF Wholesale distribu- tion detsujdanU detsujdA Department store sales detsujdanU detsujdA Department store stocks detsujdanU detsujdA 1923-1925 = 100 81 73 80 71 85 80 90 86 74 80 65 83 84 89 89 88 85 81 85 91 89 83 81 83 89 88 91 87 79 85 90 90 87 88 86 87 88 92 86 88 85 88 84 82 86 63 87 82 88 84 98 91 70 87 86 90 88 103 90 84 90 93 90 89 106 92 103 91 96 88 95 97 97 105 92 100 89 95 86 97 150 93 85 90 98 92 101 80 92 83 93 96 92 99 72 93 90 94 99 108 103 99 99 98 95 105 97 100 94 97 101 97 103 98 103 101 98 99 97 103 97 102 101 103 93 96 102 94 99 71 98 91 97 101 112 102 79 99 96 100 99 113 98 89 100 105 101 97 118 102 117 100 110 100 100 100 100 113 99 113 100 96 83 93 161 100 94 99 99 95 103 87 99 89 100 103 95 102 82 101 96 101 98 98 94 90 99 105 102 98 95 98 104 99 107 103 96 90 95 100 97 103 101 92 86 90 94 100 97 100 92 90 95 72 96 93 100 95 104 95 74 95 96 100 99 115 100 93 100 105 101 99 116 100 110 94 111 101 100 99 99 111 101 112 99 101 91 102 168 100 94 100 103 93 102 86 98 90 102 103 95 102 80 103 96 101 99 105 100 95 103 105 102 104 97 100 106 102 106 102 104 93 99 100 101 103 101 101 95 100 99 101 98 101 101 97 102 75 100 94 101 105 112 102 78 101 98 102 102 117 102 94 102 107 103 100 123 106 130 111 112 101 105 102 102 114 104 115 102 106 92 98 178 106 97 103 ytidommoc elaselohW secirp 1926= 100 91 93 93 93 96 96 99 99 99 100 101 101 102 103 105 104 102 10C 98 98 100 99 9£ 98 100 IOC 99 97 96 95 96 97 97 9£ 99 102 103 104 104 102 102 103 104 104 103 104 105 103 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
221 INDUSTRIAL AND TKADE CONDITIONS No. 121.—INDEX NUMBERS OF PRODUCTION, EMPOYMENT, TRADE, AND PRICES Continued [As revised in February, 1929; see footnote 1 on p. 219] Building Wholesale contracts distribu- Deppartment Deppartment awarded tion store sales store stocks Year and month 1926 January 95 104 88 105 93 105 104 February __ 96 103 81 104 98 104 102 March 106 101 101 101 107 104 100 April. 96 99 103 103 107 103 100 May 95 101 107 108 104 102 101 June 95 100 101 103 98 101 101 July 95 100 79 105 93 100 100 August 111 101 83 107 97 101 99 September 118 103 101 109 107 102 100 October--. 111 96 123 109 114 104 99 November 101 101 121 106 117 103 98 December. 87 98 184 110 96 102 98 1927 January 88 95 89 106 93 104 97 February 91 97 83 107 98 103 96 March 102 98 100 105 107 103 95 April. __ 92 95 111 105 107 103 94 May 91 97 102 103 104 102 94 June 91 96 102 103 98 101 94 July 91 96 75 104 95 102 94 August 112 102 89 111 98 102 95 September 113 98 100 108 108 104 97 October-. 108 94 119 106 114 104 97 November. 97 97 122 107 117 104 97 December 85 95 186 111 96 103 97 1928 January 88 96 88 104 93 105 96 February 93 99 86 105 99 104 96 March 100 96 103 104 106 103 96 April 88 92 102 103 107 103 97 May 93 99 108 103 104 102 99 June 145 I 90 89 92 104 105 97 100 98 July 139 90 94 78 107 94 101 98 August 113 110 101 85 105 98 102 99 September 140 111 96 107 119 105 101 100 October 141 112 97 123 105 114 103 98 November 112 126 99 99 122 106 117 103 97 December 84 95 116 95 101 97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
222 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 122.—INDEX OF PRODUCTION OF MANUFACTURES, BY GROUPS f As revised in February, 1929; see Bulletin for March, 1929. Adjusted for seasonal variations. 1923-1925 average = 100] Year and month m t u u A f a r a l e n c l s - - s I a r t n e o e d n l T til e e x s - p F u r o c o o t d d s - P p a r a i i n n p n d g e t r - L b u e m r - b m A i t o u l o e - - - s L s e a h a n o t d e h s erm b g a r e C l i n e n a c d s - t k s , , N m r f a e o o e l t n u r s - - - s P l r e i e e t n f u r i g m o n - - R t b i u e r b e r - s b m t u u T a f a r a c o e n c c - s - - o 1919 84 82 94 76 79 50 104 55 67 54 82 1920 _.. 87 99 84 84 87 79 58 97 66 78 64 87 1921 67 46 87 83 70 68 41 90 63 39 64 55 85 1922 87 82 99 94 85 89 66 102 80 69 74 77 89 1923 101 105 105 99 95 99 102 110 95 94 86 86 96 1924 94 8a 91 103 99 96 90 94 95 99 99 98 99 1925 105 106 104 98 106 105 107 96 110 107 115 116 105 1926 108 113 104 97 115 100 illl 98 113 112 125 116 112 1927 106 104 113 96 113 94 188 103 109 109 136 1120 118 1928 111 119 107 98 117 89 113 102 120 115 152 144 124 1925—January 106 110 103 108 104 110 90 97 110 105 106 110 105 February.. 106 111 104 108 105 104 92 99 108 109 110 111 106 March 106 111 107 96 106 104 101 95 109 113 110 108 102 April 104 100 107 95 106 101 107 98 110 107 112 112 104 May 103 104 93 105 102 110 96 110 104 114 117 105 June 102 102 95 104 103 111 92 109 105 121 116 104 July 104 97 105 94 107 105 112 96 111 108 120 126 106 August 102 103 102 94 107 106 77 99 112 105 120 123 104 September. 104 104 101 97 106 107 100 96 111 108 116 120 104 October 108 106 104 97 109 108 135 98 112 109 117 109 105 November. 109 114 106 93 111 106 135 95 111 107 117 118 104 December.. 111 117 107 104 111 108 125 95 111 109 116 121 111 1926—January 109 112 104 103 112 101 121 93 116 108 116 116 108 February.. 109 111 104 96 113 108 121 95 112 108 117 111 111 March 114 104 96 113 105 115 94 109 109 119 107 116 April 114 101 96 113 105 111 94 107 115 123 112 113 May 107 113 97 95 115 102 114 93 112 115 124 107 112 June 109 115 101 98 114 99 112 98 123 107 126 115 113 July.- 108 115 99 98 114 100 106 101 118 111 126 112 110 August 111 120 104 100 115 95 128 101 117 111 128 125 112 September. 112 117 109 100 117 99 124 103 117 112 128 136 113 October 111 116 110 100 117 97 108 104 114 113 129 126 115 November. 107 105 110 97 116 95 92 100 108 119 133 112 114 December.. 104 103 110 97 113 96 69 101 96 118 135 115 112 1927—January 105 103 108 96 113 97 98 99 100 115 135 118 114 February.. 107 112 108 94 113 96 100 102 107 111 134 114 115 March 110 115 114 100 113 92 104 98 120 109 135 122 116 April 109 114 113 100 114 86 104 99 109 111 134 134 123 May 112 116 116 103 113 96 106 100 108 110 132 127 122 June 109 108 120 101 113 94 93 106 109 108 134 140 115 July 108 105 118 96 114 95 83 112 110 107 136 119 109 August 107 102 118 96 112 95 89 112 114 109 136 117 118 September. 106 98 118 91 114 98 81 111 113 106 139 114 122 October 103 94 113 92 112 94 71 107 109 107 142 117 120 November. 99 89 112 93 110 95 49 99 108 106 140 122 121 December. 94 106 95 112 93 57 97 106 111 137 113 114 1928—January. _.. 106 107 107 103 115 92 93 99 114 100 135 124 119 February-. 110 113 108 110 116 93 101 103 117 108 139 135 120 March 110 114 107 105 118 94 111 102 112 108 141 134 120 April....... 110 122 ! 101 98 118 95 108 97 111 109 147 134 120 May 110 116 107 96 121 93 107 96 116 111 150 133 120 June 111 115 108 93 118 91 117 108 123 115 153 143 125 July 111 124 100 89 117 94 119 112 119 113 156 149 125 August 113 121 107 90 117 87 133 112 126 117 160 151 129 September. 115 128 107 95 118 82 139 110 130 117 162 169 128 October 114 126 112 98 116 81 122 103 122 121 160 167 126 November. 112 120 113 102 1115 85 94 97 122 126 159 155 124 December. 114 123 111 104 1114 87 103 92 130 128 159 143 127 i Corrected. Back figures—See Federal Reserve Bulletin for March, 1929 (for revised monthly data back to January, 1923, and for March, 1927 (for monthly data back to January, 1919). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDUSTRIAL AND TRADE CONDITIONS 223 No. 123.—INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS [As revised in February, 1929; see Bulletin for March, 1929. Adjusted for seasonal variations. 1923-1925 average=100] All Bitu- Anthra- Year and month miner- minous cite als coal coal 1919 77 89 109 1920 89 109 1921 . _ 70 79 1922 74 78 1923 _ 105 108 1924 . 96 92 1925 99 100 1926 108 110 1927 107 99 1928 106 94 1925 January.. 104 105 February 99 91 March 95 85 April 99 90 May 104 92 June.. . . . 101 92 July 104 96 August. 107 103 September 89 101 October 90 104 November 94 113 December _ _ 93 112 1926 January . 92 111 February 95 108 March 104 100 April 107 108 May 104 103 June 106 104 July 107 106 August . 109 106 September _ . 110 106 October 114 111 November 118 124 December 119 122 1927 January 116 118 February 118 123 March 118 131 April 106 94 May 108 93 June 105 91 July— 99 85 August __ 106 92 September 103 91 October 105 90 November 101 85 D ecember. 102 87 1928 January _ 103 92 February 102 92 March 103 95 April . 105 91 May 105 93 June 101 91 July 100 93 August 105 91 September 107 94 October 114 99 November _ 113 99 December 112 96 ootS Crude [ron-ore petro- ship- Copper Zinc leum ments 52 91 81 61 113 85 87 64 36 30 39 75 82 62 68 115 100 114 93 96 108 97 82 100 97 77 103 104 106 107 105 104 113 110 116 99 121 195 105 111 95 122 1 104 115 112 112 100 111 101 116 98 110 103 104 98 108 104 111 102 106 103 116 109 129 105 105 106 109 95 105 105 117 106 95 105 109 130 106 99 102 110 1 105 89 106 110 1 103 94 106 111 3 103 110 105 112 • 4 101 108 112 3 100 106 113 33 99 109 117 124 98 110 109 124 100 110 113 117 99 95 109 113 124 101 105 107 111 120 103 111 111 111 118 105 125 108 119 126 105 117 113 121 123 112 130 113 112 117 98 116 114 120 112 102 120 114 96 123 111 87 122 100 106 120 106 115 122 120 107 102 122 101 105 74 124 99 101 106 123 98 101 99 121 88 104 106 123 94 102 104 124 50 106 91 123 104 89 121 102 88 119 104 80 121 102 107 120 103 112 120 80 110 76 118 107 110 67 119 104 113 94 123 104 116 95 124 110 123 119 127 114 128 113 127 106 131 98 132 133 ot 0^ Lead Silver 66 84 77 87 88 102 102 100 111 98 114 95 1 112 193 U06 88 106 103 103 97 111 87 110 105 110 97 112 103 110 104 110 108 110 93 117 85 111 96 117 94 115 96 116 96 117 93 111 94 116 94 109 98 113 90 116 96 117 96 118 93 116 93 119 121 107 114 113 97 113 112 95 114 115 90 109 120 90 108 113 90 114 113 93 109 116 94 112 112 94 111 111 90 110 105 91 108 110 100 109 108 95 105 103 93 107 109 83 112 109 94 113 100 89 113 101 85 117 100 93 117 97 76 120 107 87 114 115 79 110 108 79 111 111 93 106 112 103 1 Corrected. Back figures.—See Federal Reserve Bulletin for March, 1929 (for revised monthly data back to January, 1923), and for March, 1927 (for monthly data back to January, 1919). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
No. 124.—INDEX OF WHOLESALE DISTRIBUTION, BY INDIVIDUAL LINES OP TRADE to to [1923-1925 average=100] With seasonal adjustment Without seasonal adjustment Year and month b W d u s i t h s a i o t o l r e l n i e - - i c G er ro ie - s Meats g D oo ry ds M cl i o n e t g n h ' - s B s a h o n o o d e t s s H w a a r r d e - Drugs F t u u r r n e i- b W d u s i t h s a i o t o l r e l n i e - - c G er r i o e - s Meats g D oo ry ds M cl i o n e t g n h ' - s B s a h o n o o d e t s s H w a a r r d e - Drugs F t u u r r n e i- 1919. 111 118 145 100 78 140 96 91 1920. 115 126 121 107 106 125 116 95 1921. 87 93 80 91 72 99 80 86 73 1922. 89 93 83 89 80 97 86 87 85 1923. 100 100 94 103 99 104 102 97 102 1924. 98 101 96 97 98 98 97 99 93 1925. 102 99 110 100 103 98 101 104 105 1926. 101 98 115 94 95 101 100 107 102 1927. 97 94 108 89 92 104 95 108 100 1928. 96 95 113 85 91 98 93 113 98 1927 January 95 93 113 83 84 112 92 104 98 88 86 113 78 65 92 82 102 86 February... 97 93 112 87 97 110 93 103 98 91 81 107 88 123 87 82 95 98 March 98 96 108 90 101 97 98 106 101 102 94 104 95 138 111 102 117 114 April 95 95 111 86 87 94 94 106 96 92 90 104 76 85 100 96 108 97 May 97 97 109 87 87 110 91 104 98 91 95 109 76 52 111 93 98 93 June 96 98 104 88 90 90 92 106 102 91 101 106 78 46 85 96 99 90 July 96 91 102 88 90 134 92 105 102 91 92 104 81 78 107 90 100 84 August 102 97 109 102 101 111 97 112 109 112 97 111 125 165 122 98 110 111 September.. 98 94 109 91 92 104 99 114 103 113 102 117 113 140 127 106 122 117 October 94 90 109 86 81 91 94 111 99 108 102 122 99 101 114 105 128 118 November- 97 94 105 89 86 105 100 112 100 97 100 101 88 61 110 98 113 105 December.. 95 92 109 87 93 101 97 106 89 85 90 103 70 48 82 90 99 83 1928 January 96 93 106 89 99 115 92 89 88 85 106 85 76 94 82 106 78 February, _. 99 98 113 88 99 110 93 110 96 93 85 108 89 128 87 82 101 96 March 96 97 109 83 94 96 91 110 95 100 95 105 87 131 111 95 121 107 April- 92 93 112 78 77 94 86 111 87 88 88 105 70 75 99 88 113 88 May 99 99 109 86 96 113 94 117 92 93 96 109 75 57 114 97 110 87 June 92 94 112 79 76 82 92 110 94 89 97 114 71 39 77 96 104 83 July 94 91 111 80 79 123 91 107 95 90 92 113 74 68 98 90 102 78 August 101 100 116 90 90 109 94 117 106 110 101 118 110 148 119 95 115 108 September.. 96 92 122 84 89 90 92 112 112 111 100 130 105 137 110 100 119 126 October 97 95 111 85 99 87 97 116 112 112 108 125 99 123 108 108 134 133 November- 99 94 122 91 95 100 100 113 101 99 100 117 90 66 105 98 114 106 December.. 95 89 115 86 101 72 93 128 94 84 88 108 69 51 59 86 120 89 1 Beginning with January, 1929, reports of sales of women's clothing were discontinued, and the index of wholesale distribution revised to include only 8 lines of trade. For monthly figures (of the general index) on this basis back to 1923, see Federal Reserve Bulletin for March, 1929, p. 180; back figures by lines of trade—in most cases to January, 1919— are given in the Bulletin for December, 1927. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
APPENDIX 225 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 1928 OFFICERS President, F. O. WETMORE. Vice President, J. F. BRUTON. Secretary, WALTER LICHTENSTEIN. EXECUTIVE COMMITTEE F. O. WETMORE. L. L. RUE. J. F. BRUTON. HARRIS CREECH. J. S. ALEXANDER. W. W. SMITH. MEMBERS A. M. HEARD, Federal Reserve District No. 1. J. S. ALEXANDER, Federal Reserve District No. 2. L. L. RUE, Federal Reserve District No. 3. HARRIS CREECH, 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. W. W. SMITH, 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. F. L. LIPMAN, Federal Reserve District No. 12. RECOMMENDATIONS OF THE FEDERAL ADVISORY COUNCIL FEBRUARY 17, 1928 No recommendations were made by the Federal Advisory Council at its first meeting in 1928, held Friday, February 17. MAY 18, 1928 TOPIC NO. 1.—Discount and open-market policy of the Federal reserve system. Recommendation.—Report by Gov. Roy A. Young but no recommendation made by Federal Advisory Council. TOPIC NO. 2.—Purchase and sale of Government securities by Federal reserve banks for their own account apart from the system's open-market investment account. Recommendation.—The Federal Advisory Council believes it to be desirable to include in the open-market portfolio of the Federal reserve 227 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
228 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD system all operations connected with any Government security holdings of the system. This would seem to be the only means of making the policy of the open-market committee effective. TOPIC NO. 3.—The desirability of requiring member banks in Federal reserve bank and branch bank cities and in other cities designated by the Federal Reserve Board from time to time to calculate and adjust their lawful reserves daily instead of on an average semiweekly basis as at present. Recommendation.—The Federal Advisory Council is emphatically opposed to any further shortening of the period for calculating and adjusting reserves because of the unnecessary disturbance to current business caused thereby. The council regards the suggestion to require a daily adjustment of reserves as being aimed at a relatively few offending banks. It is the view of the council that the purpose desired could be attained if regulations were adopted penalizing those banks abusing the present average system. The council begs to inform the Federal Reserve Board that it will file a memorandum reciting in detail the difficulties and disturbances which would be caused by the suggested change in the calculation and adjustment of reserves. TOPIC NO. 4.—The desirability of recommending legislation amending section 19 of the Federal reserve act relating to required reserves of member banks and of writing into law a complete definition (along the lines of the board's Regulation D) of what constitutes savings and other time desposits. Recommendation.—The Federal Advisory Council believes that it would be inadvisable to approach the Congress on the question of reserve requirements and definition of savings and other deposits or any like matters. The Federal reserve banks and the Comptroller of the Currency through information obtained by the examiners should be able to correct the abuses referred to in the topic suggested by the Federal Reserve Board. In general, Regulation D seems to the council equitable and just. It might be amplified to prevent some of the abuses which have developed, such as the withdrawal by check of savings and time deposits and the lack of a clear distinction between demand and time deposits. The council has considered the matter of reserves to be required in the recommendation to topic 6. TOPIC NO. 5.—The advisability of formulating a program of advising all member bank directors as soon as possible of their legal responsibilities individually arising out of noncompliance with the reserve requirements of the Federal reserve act on the part of their respective banks. Recommendation.—The Federal Advisory Council does not favor communications such as suggested except in cases of persistent wrongdoers. The present regulations appear to be adequate. TOPIC NO. 6.—The desirability of revising the present list of reserve cities and including in the list certain cities not now so designated which are within a short distance of a Federal reserve bank or branch city and other cities in which a large volume of bank deposits are carried. Recommendation.—The Federal Advisory Council believes those cities should be designated as reserve cities whose banks are carrying a substantial volume of deposits from other banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
RECOMMENDATIONS OF AJDVISOKY COUNCIL 229 SEPTEMBER 28, 1928 TOPIC NO. 1.—Business conditions in the respective Federal reserve districts. Recommendation.—Members of the council have been polled and report that business is generally good and on a sound basis. The aggregate volume is greater than the most optimistic forecasts of the earlier part of the year prophesied. TOPIC NO. 2.—Effect of prevailing rediscount rates on business. Recommendation.—The prevailing rediscount rates have not retarded business since its demands have been taken care of satisfactorily by the banks in this time of high money rates and generally have been favored by a preferential discount rate. The council believes the banks are disposed to continue this practice of favoring commercial borrowers as long as possible. It should also be noted that some financing of a more or less permanent type has been delayed by the present high money market. TOPIC NO. 3.—Open-market committee. Recommendation.—The Federal Advisory Council without any intention of criticizing the present arrangements but in order that all governors of the Federal reserve banks may participate in the discussions leading up to actions of the open-market committee suggests to the Federal Reserve Board to consider the advisability of having the membership of the open-market committee consist of all the governors of the Federal reserve banks with an executive committee composed of five members with full power to act. TOPIC NO. 4.—Suggestion that the board revoke its ruling of 1919 to the effect that balances due from foreign banks may not be deducted from balances due to other banks by a member bank in calculating its reserves. Recommendation.—The council understands fully the need of the ruling of 1919 at the time it was made, but it urges strongly that now under altered conditions deposits in foreign banks immediately available be made a deductible item in figuring the required reserves of member banks. TOPIC NO. 5.—Suggestion that the board's regulations be amended so as to fix seven days as the minimum limitation on advances by Federal reserve banks to member banks on their promissory notes secured by eligible paper or Government securities. Recommendation.—The Federal Advisory Council is opposed to the above amendment of the board's regulations. It seems to the council it will tend to increase rather than diminish the funds available for speculation and to increase the sale and purchase of Federal reserve funds. It is obvious that, if a member bank must borrow for a period of seven days even though it needs the money for a shorter period only, such a bank will be compelled either to place its idle funds temporarily at the disposal of the call-money market or to sell such Federal funds to some other member bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
230 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD NOVEMBER 22, 1928 TOPIC NO. 1.—The relation of Federal reserve discount rates and security loan market rates. Recommendation.—The Federal Advisory Council believes there is a relationship between the rediscount rates established by the Federal reserve banks and the New York call-money rate. The establishment of a 5 per cent rate by most of the Federal reserve banks has been followed by a minimum renewal rate of 6 per cent in the New York call-money market, the actual rate depending upon the supply of and demand for money on the New York stock market from day to day. A change at this time of the rediscount rates in either direction is not regarded as advisable having regard to the needs of the commercial, industrial, and agricultural interests and the speculative situation. A raising of the rates would be detrimental to business interests and a lowering would probably encourage continued speculation on the stock markets of the country. TOPIC NO. 2.—The effect of open-market operations and buying rates of the Federal reserve system on the security loan market. Recommendation.—The open-market operations have a direct and immediate influence upon all money markets. The buying rates prevailing in the open-market operations should not be inconsistent with the policy adopted in fixing the rediscount rates. TOPIC NO. 3.—The relation of security loan rates to other money rates. Recommendation.—The demand for loans on securities has undoubtedly caused an advance in interest rates generally. However, the requirements of business have been fully met at preferential rates which have not been burdensome or restrictive. TOPIC NO. 4.—The proper function and use to be made of banking investments in brokers' loans. Recommendation.—In so far as this refers to noncustomer loans, the council is of the opinion that such investments are proper for member banks to make with surplus funds only except for the purpose of meeting a temporarily disturbed situation. Member banks, however, should not borrow to carry these loans solely for the purpose of making a profit. TOPIC NO. 5.—In the opinion of the council, under what conditions, and what methods of policy, management, or operation, may the Federal reserve system in discharging its duties under the Federal reserve act use to prevent a seepage of Federal reserve credit into the call-loan market, retaining at the same time every assurance of a minimum interference with the free play of credit to accommodate business and commerce? Recommendation.—The council in its answer to question No. 4 has indicated the cooperation which it believes the member banks of the system would give to the Federal reserve banks in order to prevent a seepage of Federal reserve credit into the call-loan market. In the opinion of the council this is the most effective method of accomplishing the desired object. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 231 AMENDMENTS TO THE FEDERAL RESERVE ACT [PUBLIC—No. 352—70TH CONGRESS] [H. R. 10151] An act to amend section 9 of the Federal reserve act Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 9 of the Federal reserve act be amended by adding thereto a new paragraph as follows: "All banks or trust companies incorporated by special law or organized under the general laws of any State, which are members of the Federal reserve system, when designated for that purpose by the Secretary of the Treasury, shall be depositaries of public money, under such regulations as may be prescribed by the Secretary; and they may also be employed as financial agents of the Government; and they shall perform all such reasonable duties, as depositaries of public money and financial agents of the Government, as may be required of them. The Secretary of the Treasury shall require of the banks and trust companies thus designated satisfactory security, by the deposit of United States bonds or otherwise, for the safe-keeping and prompt payment of the public money deposited with them and for the faithful performance of their duties as financial agents of the Government." Approved, May 7, 1928. [PUBLIC—No. 594—70TH CONGRESS] [S. 1989] An act to amend the third paragraph of section 13 of the Federal reserve act Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the third paragraph of section 13 of the Federal reserve act (Title 12, section 344, United States Code), be amended and reenacted to read as follows: "Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice, and protest by such bank as to its own indorsement exclusively, and subject to regulations and limitations to be prescribed by the Federal Reserve Board, any Federal reserve bank may discount or purchase bills of exchange payable at sight or on demand which grow out of the domestic shipment or the exportation of nonperishable, readily marketable agricultural and other staples and are secured by bills of lading or other shipping documents conveying or securing title to such staples: Provided, That all such bills of exchange shall be forwarded promptly for collection, and demand for payment shall be made with reasonable promptness after the arrival of such staples at their destination: Provided further, That no such bill shall in any event be held by or for the account of a Federal reserve bank for a period in excess of ninety days. In discounting such bills Federal reserve banks may compute the interest to be deducted on the basis of the estimated life of each bill and adjust the discount after payment of such bills to conform to the actual life thereof." Approved, May 29, 1928. AMENDMENT TO CLAYTON ANTITRUST ACT [PUBLIC—No. 120—70TH CONGKESS] [H. E. 6491] An act'to amend section 8 of the act entitled "An act to supplement existing laws against unlawful restraint and monopolies, and for other purposes," approved October 15, 1914, as amended Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the last proviso of the second paragraph of section 8 of the act entitled "An act to supplement existing laws against unlawful restraints and monopolies, and for other purposes," found in title 15, chapter 1, section 19, United States Code, approved October 15, 1914, as amended, is amended to read as follows: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
232 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 11 And provided further, That nothing in this act shall prohibit any private banker from being an officer, director, or employee of not more than two banks, banking associations, or trust companies, or prohibit any officer, director, or employee of any bank, banking association, or trust company, or any class A director of a Federal reserve bank, from being an officer, director, or employee of not more than two other banks, banking associations, or trust companies, whether organized under the laws of the United States or any State, if in any such case there is in force a permit therefor issued by the Federal Reserve Board; and the Federal Reserve Board is authorized to issue such permit if in its judgment it is not incompatible with the public interest, and to revoke any such permit whenever it finds, after reasonable notice and opportunity to be heard, that the public nterest requires its revocation/' Approved, March 9, 1928. REGULATIONS OF THE FEDERAL RESERVE BOARD REVISION OF REGULATION L The Federal Reserve Board has revised its Regulation L on the subject of interlocking bank directorates under the Clayton Act so as to conform to the change in the law made by the amendment of March 9, 1928, which is set out above. The text of the board's Regulation L as revised is as follows: REGULATION L, SECOND SERIES OF 1928 (Superseding Regulation L of 1928) INTERLOCKING BANK DIRECTORATES UNDER THE CLAYTON ACT SECTION I. DEFINITIONS Within the meaning of this regulation— The term "bank" shall include any bank, banking association, or trust company organized or operating under the laws of the United States or of any State thereof. The term "national bank" shall be construed to apply not only to national banking associations but also to banks, banking associations, and trust companies organized or operating under the laws of the United States, including all banks and trust companies doing business in the District of Columbia, regardless of the sources of their charters. The term "resources" shall be construed to mean an amount equal to the sum of the deposits, capital, surplus, and undivided profits. The term "State bank" shall include any bank, banking association, or trust company incorporated under State law. The term "private banker" shall apply to any unincorporated individual engaging in one or more phases of the banking business as that term is generally understood and to any member of an unincorporated firm engaging in such business. The term "Edge corporation" shall mean any corporation organized under the provisions of section 25 (a) of the Federal reserve act, as amended. The term "city of over 200,000 inhabitants" includes any city, incorporated town, or village of more than 200,000 inhabitants, as shown by the last preceding decennial census of the United States. Any bank located anywhere within the corporate limits of such city is located in a city of over 200,000 inhabitants within the meaning of the Clayton Act, even though it is located in a suburb or an outlying district at some distance from the principal part of the city. SECTION II. PROHIBITIONS OF CLAYTON ACT Under section 8 of the Clayton Antitrust Act— (1) No person who is a director or other officer or employee of a national bank having resources aggregating more than $5,000,000 can legally serve at the same time as director, officer, or employee of any other national bank, regardless of its location. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REGULATIONS OF THE FEDERAL RESERVE BOARD 233 (2) No person who is a director in a State bank or trust company having resources aggregating more than $5,000,000 or who is a private banker having resources aggregating more than $5,000,000 can legally serve at the same time as director of any national bank, regardless of its location. (3) No person can legally be a director, officer, or employee of a national bank located in a city of more than 200,000 inhabitants who is at the same time a private banker in the same city or a director, officer, or employee of any other bank (State or National) located in the same city, regardless of the size of such bank. The eligibility of a director, officer, or employee under the foregoing provisions is determined by the average amount of deposits, capital, surplus, and undivided profits as shown in the official statements of such bank, banking association, or trust company filed as provided by law during the fiscal year next preceding the date set for the annual election of directors, and when a director, officer, or employee has been elected or selected in accordance with the provisions of the Clayton Act it is lawful for him to continue as such for one year thereafter under said election or employment. When any person elected or chosen as a director, officer, or employee of any bank is eligible at the time of his election or selection to act for such bank in such capacity his eligibility to act in such capacity is not affected by reason of any change in the affairs of such bank from whatsoever cause until the expiration of one year from the date of his election or employment. SECTION III EXCEPTIONS The provisions of section 8 of the Clayton Act— (1) Do not apply to mutual savings banks not having a capital stock represented by shares. (2) Do not prohibit a person from being at the same time a director, officer, or employee of a national bank and not more than one other national bank, State bank, or trust company, where the entire capital stock of one is owned by the stockholders of the other. (3) Do not prohibit a person from being at the same time a class A director of a Federal reserve bank and also an officer or director, or both an officer and a director, in one member bank. (4) Do not prohibit a person who is serving as director, officer, or employee of a national bank, even though it has resources aggregating over $5,000,000, from serving at the same time as director, officer, or employee of any number of State banks and trust companies, provided such State institutions are not located in the same city of over 200,000 inhabitants as the national bank and do not have resources aggregating in the case of any one bank more than $5,000,000. (5) Do not prohibit a person from serving at the same time as director, officer, or employee of any number of national banks, provided no two of them are located in the same city of over 200,000 inhabitants and no one of them has resources aggregating over $5,000,000. (6) Do not prohibit a person who is not a director, officer, or employee of any national bank from serving at the same time as officer, director, or employee of any number of State banks or trust companies, regardless of their locations and resources. (7) Do not prohibit a person who is an officer or employee but not a director of a State bank from serving as director, officer, or employee of a national bank, even though either or both of such banks have resources aggregating over $5,000,- 000, provided both banks are not located in the same city of over 200,000 inhabitants. (8) Do not prohibit a person who is an officer or employee but not a director of a national bank from serving at the same time as director, officer, or employee of a State bank, even though either or both of such banks have resources aggregating over $5,000,000, provided both banks are not located in the same city of over 200,000 inhabitants. (9) Do not prohibit a private banker or an officer, director, or employee of any bank or a class A director of a Federal reserve bank from being at the same time an officer, director, or employee of not more than two other banks within the prohibitions of the Clayton Act, if there is in force a permit therefor issued by the Federal Reserve Board. Exceptions cumulative.—The above exceptions are cumulative. 41223—29 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
234 ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD SECTION IV. PERMISSION OF THE FEDERAL RESERVE BOARD (a) In general.—Section 8 of the Clayton Antitrust Act, as amended by the acts of May 15, 1916, May 26, 1920, and March 9, 1928, authorizes the Federal Reserve Board to permit any private banker or any officer, director, or employee of any bank, banking association, or trust company, or any class A director of a Federal reserve bank to serve as director, officer, or employee of not more than two other banks, banking associations, or trust companies coming within the prohibitions of the Clayton Act, if in the judgment of the Federal Reserve Board it is not incompatible with the public interest. (6) When obtained.—Inasmuch as this exception to the prohibitions of the Clayton Act applies only when ''there is in force a permit therefor issued by the Federal Reserve Board," it is a violation of the law to serve two or more banks in the prohibited classes before such a permit has been obtained. A permit should be obtained, therefore, before becoming an officer, director, or employee of more than one bank in the prohibited classes. It may be procured before the person applying therefor has been elected as a director or appointed an officer or employee of any bank in the prohibited classes. (c) Applications for permission.—A person wishing to obtain a permit from the Federal Reserve Board to serve banks coming within the prohibitions of the Clayton Act should— (1) Make formal application on F. R. B. Form 94, or, if a private banker, on F. R. B. Form 94d. Each of these forms is made a part of this regulation. (2) Obtain from each of the banks involved a statement on F. R. B. Form 94a, which is made a part of this regulation, showing the character of its business, together with a copy of its last published statement of condition, and, if a private banker, make a statement on F. R. B. Form 94e showing the character of his or his firm's business. (3) Forward all these papers to the Federal reserve agent of his district, who will attach his recommendation on F. R. B. Form 94b, which is made a part of this regulation, and forward them in due course to the Federal Reserve Board. (d) Compatibility with the public interest.—In determining whether the issuance of such a permit would be compatible with the public interest, the Federal Reserve Board will consider: (1) Whether the banks involved are natural competitors; (2) Whether their having the same directors, officers, or employees would tend to lessen competition or to restrict credit; and (3) Any other facts having a bearing upon the interest of the public in such banks as affected by their having the same directors, officers, or employees. (e) Approval or disapproval.—As soon as an application is acted upon by the board, the applicant will be advised of the action taken. If the board approves the application, a formal permit to serve on the banks involved will be issued to the applicant. (/) Hearing.—If it appears to the board that it would be incompatible with the public interest to grant such permit, the board will so notify the applicant and will afford him every opportunity to present any additional facts or arguments bearing on the subject before making any final decision in the case. (g) Effect of permits.—A permit once granted continues in force until revoked, and need not be renewed. (h) Revocation.—All permits, however, are subject to revocation whenever the Federal Reserve Board, after giving reasonable notice to the persons to whom they were issued and affording them an opportunity to be heard, finds that the public interest requires their revocation. SECTION V. PERMITS UNDER SECTION 25 OF THE FEDERAL RESERVE ACT With the approval of the Federal Reserve Board, any director, officer, or employee of a member bank which has invested in the stock of any corporation principally engaged in international or foreign banking or financial operations or banking in a dependency or insular possession of the United States, under the provisions of section 25 of the Federal reserve act, may serve as director, officer, or employee of any such foreign bank or financial corporation. Applications for approval.—The approval of the Federal Reserve Board for such interlocking directorates may be obtained through an informal application in the form of a letter addressed to the Federal Reserve Board either by the officer, director, or employee involved, or in his behalf by one of the banks which he is serving. Such application should be sent directly to the Federal Reserve Board. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REGULATIONS OF THE FEDERAL RESERVE BOARD 235 SECTION VI. PERMITS TO SERVE EDGE CORPORATIONS With the approval of the Federal Reserve Board— (1) Any officer, director, or employee of any member bank may serve at the same time as director, officer, or employee of any Edge corporation in whose capital stock the member bank shall have invested. (2) Any officer, director, or employee of any Edge corporation may serve at the same time as officer, director, or employee of any other corporation in whose capital stock such Edge corporation shall have invested under the provisions of the Edge Act. Applications for approval.—Such approval may be obtained through an informal application in the form of a letter addressed to the Federal Reserve Board either by the director, officer, or employee involved, or in his behalf by one of the banks or corporations involved. Such applications should be sent directly to the Federal Reserve Board. AMENDMENT TO REGULATION K The Federal Reserve Board on August 3, 1928, amended Section IV of its Regulation K, series of 1928, which has to do with the titles of corporations organized under section 25 (a) of the Federal reserve act, so as to read as follows: SECTION IV. TITLE Inasmuch as the name of the Corporation is subject to the approval of the Federal Reserve Board, a preliminary application for that approval should be filed with the Federal Reserve Board on F. R. B. Form 150, which is made a part of this regulation. This application should state merely that the organization of a Corporation under the proposed name is contemplated and may request the approval of that name and its reservation for a period of 30 days. The title of every such Corporation shall include the word "foreign" or the word "international." No Corporation will be permitted to have the word "bank" as a part of its title. So far as possible the title of the Corporation should indicate the nature or reason of the business contemplated and should in no case resemble the name of any other corporation to the extent that it might result in misleading or deceiving the public as to its identity, purpose, connections, or affiliations. AMENDMENT TO REGULATION RE REDISCOUNT OF PAPER FOR FEDERAL INTERMEDIATE CREDIT BANKS The Federal Reserve Board amended subdivision (d) of Section VI of Regulation A, series of 1928, relating to rediscounts by Federal reserve banks for intermediate credit banks, to read as follows: (d) Discounts for Federal intermediate credit banks.—Any Federal reserve bank may discount agricultural paper for any Federal intermediate credit bank; but no Federal reserve bank shall discount for any Federal intermediate credit bank any such paper which bears the indorsement cf any nonmember State bank or trust company which is eligible for membership in the Federal reserve system under the terms of section 9 of the Federal reserve act as amended. In discounting such paper each Federal reserve bank shall give preference to the demands of its own member banks and shall have due regard to the probable future needs of its own member banks. Except with the permission of the Federal Reserve Board, no Federal reserve bank shall discount paper for any Federal intermediate credit bank when its own reserves amount to less than 50 per cent of its own aggregate liabilities for deposits and Federal reserve notes in actual circulation. Except with the permission of the Federal Reserve Board, the aggregate amount of paper discounted by all Federal reserve banks for any one Federal intermediate credit bank shal1 at no time exceed an amount equal to the paid-up and unimpaired capital and surplus of such Federal intermediate credit bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
236 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD AMENDMENT TO REGULATION RE BANKERS' ACCEPTANCES The Federal Reserve Board, on October 9, amended Section XI (3) of Regulation A, series of 1928, which has to do with the eligibility for discount at a Federal reserve bank of bankers7 acceptances arising out of the storage of readily marketable staples, so as to provide that warehouse, terminal, or other similar receipts securing such acceptances be issued by a party independent of the customer "or issued by a grain elevator or warehouse company duly bonded and licensed and regularly inspected by State or Federal authorities with whom all receipts for such staples and all transfers thereof are registered and without whose consent no staples may be withdrawn/7 The entire Section XI of Regulation A now reads as follows: SECTION XI. ELIGIBILITY A Federal reserve bank may discount any such bill bearing the indorsement of a member bank and having a maturity at the time of discount not greater than that prescribed by Section XII (a) which has been drawn under a credit opened for the purpose of conducting or settling accounts resulting from a transaction or transactions involving any one of the following: (1) The shipment of goods between the United States and any foreign country, or between the United States and any of its dependencies or insular possessions, or between foreign countries, or between dependencies or insular possessions and foreign countries; (2) The shipment of goods within the United States, provided shipping documents conveying security title are attached at the time of acceptance; or (3) The storage in the United States or in any foreign country of readily marketable staples, provided that the bill is secured at the time of acceptance by a warehouse, terminal, or other similar receipt, conveying security title to such staples, issued by a party independent of the customer, or issued by a grain elevator or warehouse company duly bonded and licensed and regularly inspected by State or Federal authorities with whom all receipts for such staples and all transfers thereof are registered and without whose consent no staples may be withdrawn; and provided further that the acceptor remains secured throughout the life of the acceptance. In the event that the goods must be withdrawn from storage prior to the maturity of the acceptance or the retirement of the credit, a trust receipt or other similar document covering the goods may be substituted in lieu of the original document, provided that such substitution is conditioned upon a reasonably prompt liquidation of the credit. In order to insure compliance with this condition it should be required, when the original document is released, either (a) that the proceeds of the goods will be applied within a specified time toward a liquidation of the acceptance credit or (b) that a new document, similar to the original one, will be resubstituted within a specified time. Provided, That acceptances for any one customer in excess of 10 per cent of the capital and surplus of the accepting bank must remain actually secured throughout the life of the acceptance, and in the case of the acceptances of member banks this security must consist of shipping documents, warehouse receipts, or other such documents, or some other actual security growing out of .the same transaction as the acceptance, such as documentary drafts, trade acceptances, terminal receipts, or trust receipts which have been issued under such circumstances, and which cover goods of such a character, as to insure at all times a continuance of an effective and lawful lien in favor of the accepting bank, other trust receipts not being considered such actual security if they permit the customer to have access to or control over the goods. A Federal reserve bank may also discount any bill drawn by a bank or banker in a foreign country or dependency or insular possession of the United States for the purpose of furnishing dollar exchange as provided in Regulation C, provided that it has a maturity at the time of discount of not more than three months, exclusive of days of grace. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REGULATIONS OF THE FEDERAL RESERVE BOARD 237 AMENDMENT TO REGULATION J On December 10, 1928, the Federal Reserve Board voted to amend paragraph (4) of Section V of its Regulation J, series of 1928, by striking out that provision authorizing a Federal reserve bank to reserve the right in its check collection circular to charge checks to the reserve account or clearing account of a drawee bank at anytime when in any particular case the Federal reserve bank deems it necessary to do so. The paragraph referred to, as amended, reads as follows: (4) Checks received by a Federal reserve bank on its member or nonmember clearing banks will ordinarily be forwarded or presented direct to such banks, and such banks will be required to remit or pay therefor at par in cash or bank draft acceptable to the collecting Federal reserve bank, or at the option of such Federal reserve bank to authorize such Federal reserve bank to charge their reserve accounts or clearing accounts. This amendment was made effective as of February 1, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
238 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD COURT DECISION IN MINNEAPOLIS PAR CLEARANCE DAMAGE CASE [Opinion of the Supreme Court of Minnesota] THE FIRST STATE BANK OF HUGO, MINN., RESPONDENT, V. THE FEDERAL RE- SERVE BANK OF MINNEAPOLIS, APPELLANT SYLLABUS 1. To sustain an action for damages on the ground of coercion there must be some wrongful or unlawful act, acts, or conduct on the part of the defendant, sufficient to constrain the plaintiff, against his will, to do or refrain from doing something which he has a legal right to do or refuse to do,, and resulting in damage to him. 2. A Federal reserve bank is required to receive on deposit for collection at par r from member banks of the Federal reserve system, checks payable on presentation drawn upon any member bank in its district. It is authorized but not required to so receive checks upon nonmember banks within its district. Federal reserve banks are not authorized to pay exchange on checks collected by them. 3. State banks, not members of the Federal reserve system, are not affected by the provisions of the Federal reserve act against charging exchange, and may continue to demand exchange on remittances made by them. 4. Where a nonmember bank declines to remit at par, the Federal reserve bank may present checks for payment at the counter of such bank and employ proper agencies for so doing, subject to the limitations that it may not delay presentation so as to accumulate checks in a body in a large amount for presentation at one time for the purpose of coercing or injuring the bank, or employ other unreasonable and oppressive means or threats in the collection thereof. The publication of a list, known as a par list, stating that defendant reserve bank will receive for credit and collection checks upon all banks in Minnesota, held not wrongful or oppressive, although not all banks in the State had consented to remit at par. 5. Held, that there is no evidence to sustain a finding of coercion in the present case. Reversed. OPINION Defendant appeals from an order denying its alternative motion for judgment or a new trial. The action was brought to recover damages from the defendant for the alleged coercion of plaintiff thereby compelling and forcing plaintiff against its will to agree to and remit to defendant for all checks sent to plaintiff by mail, drawn upon plaintiff bank, without making any exchange charge. The defendant is a Federal reserve bank located at Minneapolis, in this State. Plaintiff is a small State bank with a capital of $10,000, located in the village of Hugo, about 25 miles from Minneapolis, and the only bank in that village. It is not a member of the Federal reserve system, but is located in defendant's district. Plaintiff recovered a verdict. Defendant contends that there was no evidence presented justifying the submission of the question of coercion to the jury; that there was no evidence of any wrongful or unlawful conduct on its part; and no evidence that plaintiff acted under coercion or duress in the matter, hence defendant was entitled to a verdict and judgment in its favor. 1. The term "coercion" is somewhat difficult to define with sufficient exactness to apply to all cases. It is said to be compulsion, force, or duress. It is said to exist where one, by the unlawful act of another, is induced to do or perform some act under circumstances which deprive him of the exercise of his free will. (11 C. J. 946, 947.) This definition is adopted in State ex rel Young v. Ladeon, 104 Minn. 252, 116 N. W. 486. In State ex rel Smith v. Daniels, 118 Minn. 155, 136 N. W. 584, coercion is stated to be either physical force, used to compel a person to act against his will, or implied legal force, where one is so under subjection of another that he is constrained to do what his free will would refuse, and that coercion is usually accomplished by indirect means, such as threats or intimidation. Coercion, as a misdemeanor, is defined by section 10431, G. S. 1923, which provides that every person who, with intent to compel another to do or abstain from doing an act which such other person has a legal right to do, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
COURT OPINIONS 239 or abstain from doing, shall wrongfully and unlawfully attempt to intimidate such person by threats or force, shall be guilty of a misdemeanor. To sustain an action for damages on the ground of coercion, there-must be some wrongful or unlawful act, acts or conduct, on the part of the defendant sufficient to constrain the plaintiff, against his will, to do or refrain from doing something which he has a legal right to do or refuse to do, and resulting in damage to him. The acts or conduct complained of need not be unlawful in the technical sense of that term. It is sufficient if same is wrongful in the sense that it is so oppressive under given circumstances as to constrain one to do what his free will would refuse. 2. Federal reserve banks are required to receive on deposit at par from member banks and reserve banks checks and drafts upon any of its member banks. They are authorized to so receive checks, payable on presentation, upon any bank within their respective districts, whether such bank is a member bank or not. No exchange charge can be made against the reserve banks by member banks, and the reserve banks are not to pay exchange. The result is a system of par clearance of checks and items among member banks and between such banks and the reserve banks. 3. These provisions as to exchange are held not to apply to nonmember State banks, and such banks are not compelled to forego any rights they may have under State laws and may continue to charge exchange. Where checks on a nonmember bank were presented to a reserve bank for deposit and collection, the reserve bank could not accept or clear such checks unless either the nonmember bank agreed to remit therefor at par, without charging exchange, or the reserve bank, at its own expense, employed other agencies to collect same by presentation for payment at the banking house of the nonmember bank. In this situation the Federal Reserve Board and reserve banks sought to have a system of par clearance agreed to and adopted by the nonmember State banks so as to include all banks and banking institutions in the United States. Letters and circulars were sent out by the board and the reserve banks explaining the system and urging nonmember banks to agree to remit to reserve banks without exchange charge. Many State banks agreed; others refused. Par lists were prepared and sent out by the board through the reserve banks, showing towns and cities where all banks remitted at par, and, where not all so remitted, the names of banks not so doing were given. Where all banks in a State so remitted, the name of the State was given. 4. Negotiations were carried on by defendant, by correspondence, with plaintiff in the matter. On July 31, 1919, defendant sent plaintiff a circular letter, stating that it was making a final appeal and that, if no reply was received, it would be assumed that plaintiff preferred to have checks drawn on it and received by defendant presented at plaintiff's counter for payment in cash. On March 30, 1920, defendant wrote to plaintiff stating that, as it has received no reply to a letter of March 10, it assumed that plaintiff would remit at par, and that on April 15 it would commence sending regular remittances with the understanding that plaintiff would remit in payment without exchange charges. A par list was issued by the Reserve Board under date of April 1, 1920, stating that the reserve bank would receive for collection and credit items on all banks in Minnesota. Upon receipt of defendant's letter of March 30, plaintiff wrote on the bottom thereof the statement that it did not wish to be on the par list and would continue to charge exchange, and return such letter and statement to defendant. The exact date when this was received by defendant does not appear. On April 12, the defendant wrote to plaintiff acknowledging receipt and expressing regrets. In this letter defendant called attention to the fact that the reserve bank was prohibited from paying exchange, and stated that where a nonmember bank refused to remit at par the reserve bank would be forced to seek some other method and through some agency present checks and drafts at the bank's counter for payment in cash. The letter further stated that it had been said that it was defendant's practice to hold back items until they amounted to a considerable sum and then, for the purpose of embarrassing the bank, present them on one day. It assured plaintiff that this was not the case and that it had no desire to cause any unnecessary inconvenience; that it might be possible, if it received items amounting to less than $100 on one day, that it would hold such items for a day or two to save unnecessary expense. The defendant then, on or about April 17, adopted the method of turning over checks in its hands on the plaintiff bank to the American Railway Express Co. for collection. That company, as part of its business, collects and transmits money for compensation. A few days later, on or about April 28, it changed agencies and employed the postmaster at Hugo to collect and transmit such Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
240 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD collections by mail. These two agencies presented checks on plaintiff bank, coming into defendant's hands, daily at plaintiff's counter from April 17 to 30 inclusive, and received payment therefor in cash. The evidence tends to show that defendant was willing to receive drafts on plaintiff's correspondent bank instead of cash, if plaintiff had so requested. Plaintiff's correspondent bank, at the time, was the First National Bank of St. Paul, located adjacent to Minneapolis and somewhat nearer to plaintiff's place of business than Minneapolis. The amount of checks so presented varied from day to day and ran in amounts from $100 to $1,200. On April 30 plaintiff wrote to defendant that it might discontinue sending checks to be cashed over the counter; that plaintiff had decided to remit at par by draft, and that defendant might send the checks by mail in the usual way. Thereafter plaintiff continued to remit to defendant at par, by draft on its correspondent, for checks and items sent to it by defendant by mail from day to day until October 1, 1924. On September 25, 1924, plaintiff informed defendant, by letter, that on October 1 it intended to again charge exchange. Thereupon defendant ceased to accept for collection checks on plaintiff bank and, on the par list issued under date of October 1, plaintiff was listed as withdrawn from the list. During the 10 days that defendant had its checks presented for payment in cash at plaintiff's banking house, no difficulty arose. The presentation was courteous and orderly; so far as appears plaintiff suffered no injury or embarrassment; relations were apparently friendly. There is evidence that the reserve banks were conducting what is called a campaign to induce nonmember banks to agree to remit at par; that placing Minnesota banks on the par list resulted in bringing to defendant bank a large number of checks drawn on nonmember banks and on this plaintiff; that the gathering of such checks in defendant's hands and presentation thereof at plaintiff's counter for payment required plaintiff to keep a larger cash reserve on hand than otherwise necessary and resulted in the loss of interest which it could have earned by keeping more of its reserve in its correspondent bank. It is urged also that plaintiff feared and had cause to fear that on some days so large an aggregate amount of checks might come to the reserve bank and be presented for payment in cash that the plaintiff would be unable to pay them and be forced to suspend. As evidence of that, it is shown that during the four and a half years that plaintiff remitted to defendant at par there were two days on which checks aggregating slightly over $8,000 each day were mailed to it by defendant for payment by draft on plaintiff's correspondent; and on a number of other days checks aggregating over $3,000 were so received. The answer to that is the uncontradicted evidence of defendant's officer that it would readily have accepted drafts on plaintiff's correspondent bank instead of cash at any time if inconvenient for plaintiff to pay in cash. It is further to be noted that plaintiff's place of business is not over 20 miles distant from its correspondent bank in St. Paul, where it carried its reserve, and funds available from that source within an hour, if needed. The case of American Bank & Trust Co. v. Federal Reserve Bank of Atlanta, 262 U. S. 643, 67 L. ed. 1153, is of interest. In that case a number of State banks in Georgia brought suit to enjoin the reserve bank from publishing their names in the par list and to enjoin it from collecting checks on them by presenting such checks by its agents for payment at the counter of these banks in cash, or collecting such checks otherwise than in the usual way, which was alleged to be by mailing them to the bank upon which drawn and accepting remittance therefor by draft, less exchange. We infer there was the usual prayer for other and further relief. The Federal district court dismissed the case for insufficiency of the complaint and the decision was affirmed by the Circuit Court of Appeals. The case then came before the United States Supreme Court, reported in 256 U. S. 350, 65 L. ed. 983. It was there held that the complaint stated a cause of action in that it alleged that defendant intended to accumulate checks in large amounts and present them at one time in a body for the purpose of injuring and coercing the plaintiff and breaking down its business, and the decree of dismissal was reversed. The case was then tried in the district court and is reported in 280 Fed. 940. The trial court granted an injunction restraining the defendant from including the names of plaintiffs in the par list and denied any other relief. It was held that the reserve bank, in the exercise of its clearing-house functions, was authorized to accept any and all checks payable on presentation, when deposited with it for collection; that checks so accepted must be collected by it at par; that it was not permitted to accept less than full face value; that it was authorized to adopt any reasonable measure for these purposes; that, if the drawee bank refused to remit without exchange charge, the reserve bank had power to employ any proper agency to collect the checks from the drawee bank and to pay the necessary cost Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
COURT OPINIONS 241 of such service; that the daily collection of such checks did not constitute any accumulation thereof and was lawful; that it was proper for such bank to publish a par clearance list, but not to place thereon the name of a nonmember bank without its consent. The court further found that there was no evidence to sustain any charge that the reserve bank had acted illegally or exercised any of its rights so as to oppress or injure the plaintiffs. This decision was affirmed by the Circuit Court of Appeals, 284 Fed. 424. It came again before the United States Supreme Court, 262 U. S. 643, 67 L. ed. 1153, and was affirmed. In that decision it is stated that the decree left the reserve bank free to publish in its par list that it would collect at par checks on all banks in any town, that is, it might name the town or city as one wherein it collected checks at par, although there were banks in that town or city which would not remit at par, so long as it did not publish the names of such banks. Here, in our present case, the par list complained of did not even name the town in which plaintiff bank is located, but named merely the State of Minnesota as a district in which defendant would collect checks at par. The court further states that Federal reserve banks are authorized to collect for member banks and affiliated nonmember banks checks on any banks within their respective districts, if the checks are payable on presentation and can in fact be collected consistently with the legal rights of the drawee without paying an exchange charge; that, within these limits, reserve banks have ordinarily the same right to present checks, to the drawee bank for payment over the counter as any other bank, State or national, would have. The limitations referred to are that the reserve bank may not accumulate checks for presentation or make other unreasonable or oppressive demands or threats in connection with the collection for the purpose of injuring the drawee bank or compelling it to agree to remit without exchange. The court states that the advantages offered by the reserve banks have created a steady flow in increased volume of checks on country banks to the reserve banks, and that collecting such checks over the counter will subject the country banks to certain losses of exchange and interest, but that country banks are not entitled to protection against legitimate competition and such losses are of the kind to which business concerns are commonly subjected when improved facilities are introduced by others, or a more efficient competitor enters the field. It is urged that the reserve banks had adopted a plan to coerce and compel country banks to remit at par and that defendant, in what it did, was engaged in carrying out such unlawful purpose, and that plaintiff was thereby coerced and compelled to act against its free will. A wrongful purpose or intent alone can not constitute coercion. There must be threats or oppressive acts or conduct sufficient to overcome the will and constrain the one coerced to go against his free will. There were here no threats, wrongful publication of par lists, accumulation of checks, or other oppressive conduct. Brookings State Bank v. Federal Reserve Bank of San Francisco, 277 Fed. 430, 281 Fed. 222, was a case where the reserve bank treated checks as dishonored where plaintiff refused to remit at par by mail, and so informed its clients. This was held wrongful and defendant enjoined from sending letters to its clients advising them that they must look to plaintiff bank for protection for its failure to protest the checks. Farmers & Merchants Bank of Catlettsburg v. Federal Reserve Bank of Cleveland, 286 Fed. 610, is cited. A mere reading of the statement of facts in that case shows that the collection of checks there was accompanied by such disturbance, threats, armed messenger, interference with the bank's customers and business, public display of checks and claims against the bank, espionage and such words and acts of oppression as to clearly render the defendant's conduct wrongful and unlawful. The holdings of the Federal district court that defendant should be enjoined from continuing to so collect checks drawn on plaintiff bank and from advertising that it would collect such checks free of charge, must be held to be limited to the facts in the case. That case was decided by the district court before the final decision by the Supreme Court in the Atlanta Bank case. The case of Farmers & Merchants Bank of Monroe v. Federal Reserve Bank of Richmond, 262 U. S. 649, 67 L. ed. 1157, was decided at the same time and the opinion written by the same justice as in the Atlanta Bank case. It does not change or modify the holdings in that case. The question there decided was the constitutionality of a State statute authorizing State banks to pay their checks, when presented by a Federal reserve bank or its agents, in exchange drawn on the reserve deposits of the drawee bank. This permitted the State banks to deduct exchange. The law was held constitutional. While the Federal reserve act is construed as applied to that situation, it is so construed in harmony with the Atlanta Bank case. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AJKTNUA.L REPORT OF THE FEDERAL RESERVE BOARD Primarily the benefit from having checks cleared at par goes to the makers of such checks, the customers of the bank upon which they are drawn. If such a customer can send his check to another city or place in payment of his debts or purchases and have the check cleared at par, he saves money and inconvenience, saves purchasing a draft and paying the exchange thereon. He can not compel his debtor or obligee at the other end to accept his check subject to exchange charges. . His bank is, to that extent, favoring him and incidentally attracting customers to itself. 5. This case has been fully and fairly tried. Our conclusion is that there is no evidence justifying the jury in finding that there was coercion. Defendant, therefore, was entitled to a directed verdict and to judgment notwithstanding the verdict. The order appealed from is reversed with direction to have judgment entered for defendant. COURT OPINION AS TO DISCRETION OF FEDERAL RESERVE SYSTEM REGARDING MATTERS RELATING TO CREDIT POLICIES The following is the opinion of the United States District Court for the Southern District of New York in the case of Frank G. Raichle, plaintiff, v. Federal Reserve Bank of New York, defendant, rendered November 2, 1928, testing the authority of the Federal reserve bank and of the Federal reserve system generally to exercise discretion in raising or lowering the discount rate, in engaging in open market operations, and in performing other functions relating to the credit policies of the Federal reserve system: UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF NEW YORK FRANK G. RAICHLE, PLAINTIFF } v. E 46-113 FEDERAL RESERVE BANK OF NEW YORK, DEFENDANT J Appearances: Frank G. Raichle, attorney for plaintiff (Carlos C. Alden, of counsel); Walter S. Logan, counsel for defendant, (Newton D. Baker, of counsel). WINSLOW, D. J.: At this late day the power of the Congress to establish a banking system will hardly be questioned. The necessary limitation or restraints and subjection of individual opinion to official discretion incidental to the establishment and present operation of the national banking system do not, in my judgment, run counter to the provisions of the fifth amendment. A careful study of the bill of complaint leads me to the inevitable conclusion that it does not state facts sufficient to constitute a cause of action. The bill will be dismissed. New York, November 2, 1928. FRANCIS S. WINSLOW, United States District Judge. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 243 DIRECTORY OF THE FEDERAL RESERVE BOARD [December 31, 1928] EX OFFICIO MEMBERS ROY A. YOUNG, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, ADOLPH C. MILLER. Secretary of the Treasury, Chairman. CHARLES S. HAMLIN. JOHN W. POLE, GEORGE R. JAMES. Comptroller of the Currency. EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. E. A. GOLDENWEISER, J. C. NOELL, Assistant Secretary. Director, Division of Research and E. M. MCCLELLAND, Statistics. Assistant Secretary. CARL E. PARRY, JAMES F. HERSON, Assistant Director, Division of Chief, Division of Examination and Research and Statistics. Chief Federal Reserve Examiner. EDWARD L. SMEAD, WALTER WYATT, General Counsel. Chief, Division of Bank Operations. W. M. IMLAY, Fiscal Agent. SALARIES OF OFFICERS AND EMPLOYEES OF THE FEDERAL RESERVE BOARD [December 31,1928] OFFICE OF SECRETARY Walter L. Eddy, secretary $14, 000. 00 J. C. Noell, assistant secretary 7, 000. 00 E. M. McClelland, assistant secretary 7, 000. 00 Staff: 1 at $4,800 4, 800. 00 1 at $3,800 3, 800. 00 1 at $3,700 3,700. 00 1 at $3,600 3, 600. 00 2 at $3,000 6,000. 00 1 at $2,800 2, 800. 00 1 at $2,700 2, 700. 00 1 at $2,500 2, 500. 00 2 at $2,400 4, 800. 00 2 at $2,200 4, 400. 00 2 at $2,100 4, 200. 00 5 at $2,000 10,000. 00 3 at $1,900 5, 700. 00 1 at $1,680 1, 680. 00 4 at $1,500 6, 000. 00 1 at $1,400 1,400.00 1 at $1,200 1, 200.00 1 at $1,000 1, 000. 00 1 at $900 900. 00 9 part-time employees 3, 001. 50 Total _-_ _---... 102, 181. 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
244 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD OFFICE OF GENERAL COUNSEL Walter Wyatt, general counsel $12, 000. 00 George B. Vest, assistant counsel 7, 000. 00 B. M. Wingfield, assistant counsel 4, 500. 00 Staff: 1 at $2,700 2, 700. 00 1 at $2,500 2,500.00 1 at $2,400 2,400.00 1 at $1,680 1, 680. 00 1 at $1,500 1, 500. 00 Total 34, 280. 00 OFFICE OF FISCAL AGENT W. M. Imlay, fiscal agent 5, 000. 00 Oliver E. Foulk, deputy fiscal agent 4, 200. 00 Staff: 1 at $2,000 2,000. 00 Total 11, 200. 00 f OFFICES OF MEMBERS OF THE BOARD 2 at $3,000 6,000.00 2a,t$2,900 5,800.00 2 at $2,700 5, 400. 00 1 at $2,500 2,500.00 1 at $1,500 1, 500. 00 Total 21, 200. 00 DIVISION OF BANK OPERATIONS Edward L. Smead, chief of division 12, 000. 00 John R. Van Fossen, assistant chief 6, 000. 00 Staff: 1 at $4,400 4,400. 00 4 at $2,700 10,800.00 2 at $2,500 5, 000. 00 1 at $2,200 2, 200. 00 1 at $2,000 2,000.00 5 at $1,700 8, 500. 00 2 at $1,600 3, 200. 00 3 at $1,500 . 4, 500. 00 3 at $1,400 4, 200. 00 1 at $1,200 1, 200. 00 Total . 64, 000. 00 DIVISION OF EXAMINATION James F. Herson, chief of division and chief Federal reserve examiner 14, 000. 00 Examiners: Frank J. Drinnen 7, 500. 00 Rolfe H. Brett 5,300. 00 L. A. A. Siems 4,800.00 Assistant examiners: 1 at $4,900 4,900. 00 1 at $4,800 4, 800. 00 2 at $4,500 9, 000. 00 3 at $4,300 12, 900. 00 1 at $4,200 4,200.00 2 at $3,500 7,000. 00 1 at $3,200 __ 3,200. 00 1 at $2,700 2,700.00 1 at $2,500 2,500.00 1 at $2,400 2,400. 00 Staff: 1 at $2,100 2, 100. 00 Total _ _-- - 87, 300. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE BOARD SALARIES 245 DIVISION OF RESEARCH AND STATISTICS E. A. Goldenweiser, director of division $12, 000. 00 Carl E. Parry, assistant director 7, 500. 00 Staff: 1 at $4,800 4, 800. 00 1 at $4,500 4, 500. 00 1 at $4,200 4,200.00 2 at $4,000 8, 000. 00 1 at $3,600 3, 600. 00 1 at $3,060 3, 060. 00 1 at $2,700 2, 700. 00 1 at $2,500 2, 500. 00 1 at $2,400 2,400. 00 2 at $2,100 4,200.00 3 at $1,900 5, 700. 00 6 at $1,800 10, 800. 00 5 at $1,680 8,400.00 1 at $1,600 1,600.00 5 at $1,440 7, 200. 00 1 at $1,200 1,200. 00 1 at $900 900. 00 Total 95, 260. 00 DIVISION OF FEDERAL RESERVE ISSUE AND REDEMPTION L. G. Copeland, chief of division 4, 500. 00 W. J. Tucker, assistant chief 2, 760. 00 Staff: 1 at $2,280 2,280. 00 1 at $1,860 1, 860. 00 2 at $1,800 3, 600. 00 1 at $1,620 1, 620. 00 1 at $1,560 1, 560. 00 18 at $1,500 27,000.00 2 at $1,380 2,760.00 Total 47, 940. 00 MESSENGERS 1 at $1,600 1, 600. 00 3 at $1,500 4,500. 00 7 at $1,250 8, 750. 00 2 at $1,200 2,400. 00 1 at $1,150 1, 150. 00 1 at $1,000 1,000.00 1 at $900__ 900. 00 Total 20,300. 00 CHARWOMEN 5 at 45 cents per hour 2, 592. 00 GENERAL H. W. Black, examiner 7, 500. 00 Staff: 1 at $4,800 4,800.00 1 at $1,600 1,600.00 1 at $1,500 1, 500. 00 Total 15,400. 00 Grand total 501, 653. 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
246 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD RECEIPTS AND DISBURSEMENTS OF THE FEDERAL RESERVE BOARD RECEIPTS AND DISBURSEMENTS OF THE FEDERAL RESERVE BOARD FOR THE YEAR 1928 Balance Jan. 1, 1928: Available for general expenses of the board $139, 224.23 Available for expenses chargeable to the Federal reserve banks __ 227,462. 67 Total _ $366,686.90 RECEIPTS Available for general expenses of the board: Assessments on Federal reserve banks for estimated general expenses of the board $697,676.92 Reimbursement of expenditures during 1927 _. 55. 27 Subscriptions to Federal Reserve Bulletin ._. 4,392.01 Miscellaneous receipts, refunds, and reimbursements. 1, 726.13 Reimbursement on account of cost of bank examinations 4,480. 27 Total receipts available for general expenses of the board _ 708,330. 60 Available for expenses chargeable to Federal reserve banks: Assessments on Federal reserve banks— For cost of preparing Federal reserve notes 553,871.07 For expenses of leased wire system 196,850. 97 For expenses of private telephone lines 27,582.72 For miscellaneous expenses 9,165.47 Total receipts available for expenses chargeable to Federal reserve banks_. 787,470.23 Total receipts 1,495,800.85 Total available for disbursement... _ _ 1,862,487.73 DISBURSEMENTS For general expenses of the board: Expenses for 1927 paid in 1928 14,120.33 Expenses for 1928 (per detailed statement) $763, 563.41 Less accounts unpaid Dec. 31, 1928 (estimated) 15,488.06 748,075.35 Miscellaneous expenses reimbursable. _ 98.33 Refunds on account of subscriptions to Federal Reserve Bulletin. 7.99 Total disbursements for general expenses of the board _ 762,302.00 For expenses chargeable to Federal reserve banks: For cost of preparing Federal reserve notes 738,932. 50 For expenses of leased wire system 200,477.82 For expenses of private telephone lines _ 27, 582.72 For miscellaneous expenses _ 6,153.08 Total disbursements for expenses chargeable to Federal reserve banks 973,146.12 Total disbursements._ __ 1, 735,448.12 Balance Dec. 31, 1928: Available for general expenses of the board, 1929, and accounts unpaid Dec. 31, 1928 - 85,252.83 Available for expenses chargeable to Federal reserve banks, unpaid Dec. 31, 1928 41,786.78 Total balance 127,039.61 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DETAILED STATEMENT OF EXPENSES OF THE FEDERAL RESERVE BOARD IN 1928 Febru- Septem- Novem- Decem* Total January ary March April May June July August ber October ber ber PERSONAL SERVICES Board members and their staff $100, 349.99 $8,341. 64 $8, 341.67 $8,341. 69 $8,341. 64 $8,341.67 $8,341.69 $8,391.64 $8,429.16 $8,429.19 $8, 349. 98 $8,350.00 $8, 350. 02 Office of secretary _ __ 103, 534. 83 8,933. 65 8,914.24 8,959. 36 8,942. 65 8, 595. 77 8,518.60 8,498.11 8, 524. 41 8, 505.10 8, 397. 91 8, 364.24 8, 380. 79 Office of general counsel. 34, 277. 50 2,874. 99 2,874.99 2,875. 02 2,874.99 2,874.99 2,875.02 2,874.99 2, 795.83 2, 786. 68 2, 856. 66 2,856. 66 2, 856. 68 Office of fiscal agent 11, 200. 00 933. 32 933. 34 933. 34 933. 32 933. 34 933. 34 933. 32 933. 34 933. 34 933. 32 933. 34 933. 34 Division of examination 90, 677. 50 7,699. 95 7,554.16 7,408. 7,408.28 7,408. 33 7,408. 39 7,408. 28 7,408. 33 7,408. 39 7,414. 95 7,275.00 8,875. 05 Division of bank operations __ 65, 364. 71 5, 541. 58 5, 601.69 5,591. 73 5,491.58 5,491. 69 5,491. 73 5,420. 75 5, 350. (52 5, 316. 73 5, 358. 80 5, 354.18 5, 354. 23 Division of research and statistics 103, 332. 55 8, 366. 64 8, 589.64 8,751. 72 8,766.64! 8, 751. 64 8,912. 7r 8, 851.64 8, 842. 97 8, 721. 72 8,418. 31 8, 371. 64 7,987. 27 Division of issue and redemption 50, 512. 31 4, 290. 00 4,290.00 4, 290.00 4,290.00 4, 290.00 4,186. 50 4,175.00 4,175. 00; 4, 270. 83 4,171. 66 4,144.49 3,938.83 Messengers 20, 265. 71 1, 691. 61 1,691.68 1,691. 71 1,666.61 1,684.18 1, 691. 71 1, 691. 61 1, 691. 68 1, 689.92 1, 691. 61 1,691. 68 1,691. 71 C harwomen __ 2, 588. 40 200. 00 192.00 216.00 200. 00 208.00 208.00 225.00 243. 00 216. 00 243. 00 225. 00 212. 40 General 27, 690.47 2,116. 66 2,116.66 2,183. 35 2,116. 66| 2,176. 34 2,116. 68 2,116. 66 4, 614.12 2,116. 68 2,116.66 2,616.66 1, 283.34 Total 609, 793. 97 50,990. 04 51,100.07 51,242. 31 51,032.37i 50,755.95 50, 684. 38 50, 587. 00 53, 007.86 50,394. 58 49,952.86 50,182.89 49,863.66 NONPERSONAL SERVICES Transportation and subsistence: Board members and their staff 3,763. 55 228. 39 288.81 157.91 213.40 738. 09 183. 76 57.07 580.47 364. 50 588.04 331.62 31.49 Office of secretary 395. 09 74.94 70.81 36.47 174. 37.91 Office of general counsel " 301.66 92.19 108. 33 33.78 33.78 33.58 Division of examination 56, 520. 02i 4, 640.94 4,014.16 4. 852. 24 4,148. 54 9,450.15 3, 780. 50 ', 043.34 2,574. 56 2,889.77 4,933. 20 4,276. 05 3,916.57 Division of research and statistics 957. 30 31.41 221. 24 85.64 1.88 39. 54 35.31 35.84 145. 32 130. 79 230. 33 Total all other divisions, including local car fare _ 2,648. 46: 594.07 365.18 441.18 857. 75 151.18 51.02 91.86 40.26 55.96 Communication service: Telephone 7,044.79 547.10 575. 71 561. 55 635. 70 602.64 552.84 576.04 627.17 586.42 580.99 571.14 627.49 Telegraph 4, 743. 55 258.83 640. 34 296.96 333.89 575.23 284.65 266.97 568. 40 278. 83 232. 23 743.14 Postage 622.00 67.00^ 33.00 51.00 32.00 46.001 73.00 74.00 69.00 65.00 42.00 70.00 Printing, binding, etc 45, 334. 31 6, 782.14 2,837. 53 3,890. 85 2, 771.18 2,539.45, 8, 210. 61 2, 255. 38 3,485. 73 2,133. 39 3, 599. 24 3,115. 06 3, 713. 75 Repairs 496. 25 73.36 22.11 19.90 65.56 78.491 52.62 46.85 30.06 35.18 43.60 15.88 12.64 Heat, light, and power 896. 99, 99.46 99.47 99.47 99.47 69. 69! - 39.82 39.81 39.82 39.82 90.05 90.05 90.06 Miscellaneous, unclassified. 1, 384. 03 146. 58 123.13 106.81 52.26 127.97 144.91 107.12 201.44 56.77 67.73 82.54 166. 77 Equipment rental _ 36.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 Supplies, stationery and office 5,616. 23 216.11 22.74 1, 778.34 79.41 6.43J 997.90 112.14 226. 70 697. 21 24.45 825. 58 629. 22 Equipment, furniture and office 4, 622. 25 1, 286. 52 474.90 760.06 733.15 14.40| 71.44 89.04 771.19 244. 57 108.99 67.99 Books and periodicals 1, 886. 98 1, 232. 99 36.41 125.48 45.78 33.66; 193.00 31.41 75.00 1.54 11.65 87.50 12.56 Rent ._ 16,499.98 1,458. 33 1,458.33 1,458.33 1,458. 33 1, 333. 33 1, 333. 33 1, 333. 33 1, 333. 33 1, 333.33 1, 333. 33 1,333. 34 1,333.34 Total 153, 769. 44 17, 746. 42 10,905.36 15,032.10 11,530.84 15,835.06 16,298.29 12,179. 37 10,359.06 8,852. 37 12,102.87 11,245.77 11,681.93 Grand total.. 763, 563. 41 68,736.46 62,005.43 66,274.41 62,563.21 66,591.01! 66,982.67 62, 766. 3763,366.92 59,246.95 62,055. 73 61,428.66 61, 545.59 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
248 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SALARIES OF NATIONAL BANK EXAMINERS [As of December 31, 1928] DISTKICT No. 1—BOSTON F. D. Williams, chief examiner $12,000 1 examiner, at $6,500; 2 examiners, at $4,800; 2 examiners, at $4,500; 3 examiners, at $3,900; 1 examiner, at $3,600. Total, 9 examiners._ 40, 400 DISTRICT NO. 2—NEW YORK 0. T. Reeves, jr., chief examiner 20, 000 1 examiner, at $7,500; 2 examiners, at $6,300; 1 examiner, at $6,000; 1 examiner, at $5,600; 1 examiner, at $5,500; 1 examiner, at $5,000; 1 examiner, at $4,800; 1 examiner, at $4,500; 2 examiners, at $4,200; 1 examiner, at $4,000; 1 examiner, at $3,900; 5 examiners, at $3,600; 3 examiners, at $3,500; 2 examiners, at $3,300; 2 examiners, at $3,000. Total, 25 examiners 108, 900 DISTRICT NO. 3—PHILADELPHIA S. L. Newnham, chief examiner 15, 000 1 examiner, at $6,300; 1 examiner, at $5,800; 2 examiners, at $5,500; 1 examiner, at $5,000; 1 examiner, at $4,800; 2 examiners, at $4,500; 2 examiners, at $4,000; 2 examiners, at $3,900; 1 examiner, at $3,600; 1 examiner, at $3,300; 1 examiner, at $3,000. Total, 15 examiners.. 67, 600 DISTRICT NO. 4—CLEVELAND A. P. Leyburn, chief examiner 10, 000 1 examiner, at $6,000; 1 examiner, at $5,600; 1 examiner, at $4,800; 2 examiners, at $4,200; 4 examiners, at $3,300; 4 examiners, at $3,000; 1 examiner, at $2,700; 1 examiner, at $2,500. Total, 15 examiners. 55, 200 DISTRICT NO. 5—RICHMOND W. P. Folger, chief examiner 12, 000 1 examiner, at $4,800; 2 examiners, at $4,500; 2 examiners, at $4,200; 5 examiners, at $3,900; 2 examiners, at $3,300. Total, 12 examiners. 48, 300 DISTRICT NO. 6—ATLANTA E. D. Robb, chief examiner 11, 000 1 examiner, at $5,400; 1 examiner, at $4,800; 1 examiner, at $4,700; 1 examiner, at $4,500; 2 examiners, at $4,200; 1 examiner, at $3,000. Total, 7 examiners 30, 800 DISTRICT NO. 7—CHICAGO B. K. Patterson, chief examiner 13, 000 1 examiner, at $6,400; 1 examiner, at $6,200; 1 examiner, at $5,400; 3 examiners, at $5,000; 1 examiner, at $4,800; 1 examiner, at $4,200; 1 examiner, at $4,100; 1 examiner, at $4,000; 3 examiners, at $3,900; 4 examiners, at $3,600; 2 examiners, at $3,000; 1 examiner, at $2,700. Total, 20 examiners 84, 900 DISTRICT NO. 8—ST. LOUIS J. S. Wood, chief examiner 15, 000 2 examiners, at $5,500; 2 examiners, at $5,000; 1 examiner, at $4,500; 1 examiner, at $4,000; 1 examiner, at $3,900; 2 examiners, at $3,600; 1 examiner, at $2,700. Total, 10 examiners 43, 300 DISTRICT NO. 9—MINNEAPOLIS 1. D. Wright, chief examiner 8, 500 3 examiners, at $4,200; 2 examiners, at $3,900; 3 examiners, at $3,600; 3 examiners, at $3,300; 1 examiner, at $3,000. Total, 12 examiners. 44, 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SALARIES OF NATIONAL BANK EXAMINERS 249 DISTRICT NO. 10—KANSAS CITY L. K. Roberts, chief examiner $15,000 1 examiner, at $5,400; 1 examiner, at $4,800; 1 examiner, at $4,200; 1 examiner, at $4,000; 3 examiners, at $3,900; 3 examiners, at $3,300; 4 examiners, at $3,000; 1 examiner, at $2,700. Total, 15 examiners. 54, 700 DISTRICT NO. 11—DALLAS R. H. Collier, chief examiner 12, 000 2 examiners, at $5,700; 1 examiner, at $5,400; 1 examiner, at $5,000; 1 examiner, at $4,500; 2 examiners, at $4,200; 1 examiner, at $4,000; 1 examiner, at $3,600; 5 examiners, at $3,000; 1 examiner, at $2,500. Total, 15 examiners 59, 800 DISTRICT NO. 12—SAN FRANCISCO T. E. Harris, chief examiner 15, 000 2 examiners, at $6,000; 1 examiner, at $5,500; 2 examiners, at $5,000; 1 examiner, at $4,500; 1 examiner, at $4,300; 2 examiners, at $3,900; 1 examiner, at $3,600; 3 examiners, at $3,300; 6 examiners, at $3,000; 2 examiners, at $2,700; 1 examiner, at $2,500. Total, 22 examiners, 83, 500 RECAPITULATION Examining staff: Chief examiner, at $15,000 1 Assistant chief examiners, at $8,500 3 Office of Comptroller, at $4,500 2 Total 6 49, 500 Chief examiners of districts— At $20,000 1 At $15,000 4 At $13,000 1 At $12,000 3 At $11,000 1 At $10,000 1 At $8,500 1 Total 12 158,500 Other examiners— At $7,500 1 At $6,500 1 At $6,400 1 At $6,300 3 At $6,200 1 At $6,000 4 At $5,800 1 At $5,700 2 At $5,600 2 At $5,500 6 At $5,400 4 At $5,000 10 At $4,800 9 At $4,700 1 At $4,500 11 At $4,300 1 At $4,200 15 At $4,100 1 At $4,000 7 At $3,900 22 At $3,600 18 At $3,500 3 At $3,300 , 18 At $3,000 26 At $2,700 6 At $2,500 3 Total 177 721,500 Total examining staff l 195 Total salaries 929, 500 i In addition there are 24 national bank examiners not receiving salaries, who are acting as receivers or are unassigned. Digitized for FRASE41R2 23—29 17 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
250 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DIRECTORY OF THE FEDERAL ADVISORY COUNCIL [Elected for the year 1929] District No. 1.—ARTHUR. M. HEARD, president Amoskeag National Bank, Manchester, N. H. District No. 2.—WILLIAM C. POTTER, president Guaranty Trust Co., New York, N. Y. District No. 3.—LEVI L. RUE, chairman Philadelphia National Bank, Philadelphia, Pa. District No. 4.—HARRIS CREECH, president Cleveland Trust Co., Cleveland, Ohio. District No. 5.—JOHN POOLE, president Federal American National Bank, Washington, D. C. District No. 6.—J. P. BUTLER, jr., president Canal Bank & Trust Co., New Orleans, La. District No. 7.—FRANK O. WETMORE, chairman First National Bank, Chicago, District No. 8.—WALTER W. SMITH, president First National Bank, 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.—F. L. LIPMAN, president Wells Fargo Bank & Union Trust Co., San Francisco, Calif. GOVERNORS AND DIRECTORS OF FEDERAL RESERVE BANKS1 DISTRICT NO. 1—FEDERAL RESERVE BANK OF BOSTON FREDERIC H. CURTISS, Chairman and Federal Reserve Agent. ALLEN HOLLIS, Deputy Chairman. W. P. G. HARDING, Governor Term Director Residence expires Dec. 31 Class A: Alfred L. Ripley Boston, Mass 1929 Edward S. Kennard Rumford, Me 1930 Frederick S. Chamberlain New Britain, Conn 1931 Class B: Philip R. Allen East Walpole, Mass 1 1929 A. F. Bemis. _ Boston, Mass 1930 Albert C. Bowman _ Springfield, Vt 1931 Class C: Frederic H. Curtiss ._ Boston, Mass _ 1929 Allen Hollis.._ Concord, N. H ___ 1930 Chas. H. Manchester ___ Providence, R. I 1931 DISTRICT NO. 2—FEDERAL RESERVE BANK OF NEW YORK GATES W. MCGARRAH, Chairman and Federal Reserve Agent. OWEN D. YOUNG, Deputy Chairman. GEO. L. HARRISON, Governor Class A: R. H. Treman Ithaca, N. Y 1929 Delmar Runkle ._ _ Hoosick Falls, N. Y 1930 Chas. E. Mitchell . New York, N. Y__ 1931 Class B: Theodore F Whitmarsh do 1929 Samuel W Reyburn do 1930 Wm. H. Woodin do 1931 Class C: Owen D. Young do 1929 Clarence M. Woolley __ Greenwich, Conn... _. 1930 Gates W. McGarrah.._ New York, N. Y... 1931 1 Includes directors elected in December, 1928, for the 3-year term beginning January 1, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
251 GOVERNORS A.ND DIRECTORS DISTRICT NO. 2—FEDERAL RESERVE BANK OF NEW YORK—Continued BUFFALO BRANCH W. W. SCHNECKENBURGER, Managing Director Term Director Residence expires Dec. 31 W. W. Schneckenburger. Buffalo, N. Y. 1929 F. B. Cooley do.. 1929 Harry T. Ramsdell do 1929 Arthur G. Hough... Batavia, N. Y__ 1930 Geo. F. Rand Buffalo, N. Y.._ 1930 Edward A. Duerr do 1931 J. T. Symes Lockport, N. Y_ 1931 DISTRICT NO. 3—FEDERAL RESERVE BANK OF PHILADELPHIA RICHARD L. AUSTIN, Chairman and Federal Reserve Agent. ALBA B. JOHNSON, Deputy Chairman. GEO. W. NORRIS, Governor Class A: Jos. Wayne, jr Philadelphia, Pa _ 1929 Geo. W. Reily Harrisburg, Pa. 1930 John C. Cosgrove Hastings, Pa 1931 Class B: Arthur W. Sewall Philadelphia, Pa 1929 A. C. Dorrance Camden* N. J_ 1930 C. F.C. Stout. . Philadelphia, Pa 1931 Class C: R L. Austin do.. 1929 Alba B Johnson do 1930 H. L. Cannon Bridgeville, Del 1931 DISTRICT NO. 4-FEDERAL RESERVE BANK OF CLEVELAND GEO. DECAMP, Chairman and Federal Reserve Agent. LEWIS BLAIR WILLIAMS, Deputy Chairman. E. R. FANCHER, Governor Class A: Robert Wardrop_. Pittsburgh, Pa.. 1929 O. N. Sams Hillsboro, Ohio. 1930 C hess Lamberton. Franklin, Pa 1931 Class B: Geo. D. Crabbs... Cincinnati, Ohio.. 1929 S. P. Bush Columbus, Ohio.. 1930 R.P.Wright Erie, Pa 1931 Class C: George DeCamp.. Cleveland, Ohio.. 1929 W. W. Knight.... Toledo, Ohio 1930 L. B. Williams...- Cleveland, Ohio. 1931 CINCINNATI BRANCH C. F. MCCOMBS, Managing Director C. F. McCombs Cincinnati, Ohio 1929 John Omwake do 1929 Charles W. DePuis _ do 1929 Geo. M Verity Middletown, Ohio 1930 B. H. Kroger Cincinnati, Ohio 1930 Fred. A. Geier do 1931 E. S. Lee Covington, Ky 1931 PITTSBURGH BRANCH J. C. NEVIN, Managing Director J. C. Nevin Pittsburgh, Pa 1929 A. L. Humphrey _ do 1929 Jos. R. Eisaman Greensburg, Pa 1929 Jos. R. Naylor __ Wheeling, W. Va 1930 R. B. Mellon Pittsburgh, Pa 1930 A. E. Braun _ _ do 1931 Jos. B. Shea do 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
252 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 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 Term Director Residence expires Dec. 31 Class A: L. E. Johnson___ Alderson, W. Va _. 1929 Chas. E. Rieman. _._ Baltimore, Md _ _ . 1930 Jas. C. Braswell Rocky Mount, N. C 1931 Class B: D. R. Coker Hartsville, S. C _ 1929 J. P. Fishburn Roanoke, Va 1930 Edwin C. Graham _ _ Washington, D. C _ 1931 Class C: Wm. W. Hoxton Richmond, Va. __ 1929 Frederic A. Delano _ Washington, D. C 1930 Robert Lassiter Charlotte, N. C 1931 BALTIMORE BRANCH ALBERT H. DUDLEY, Managing Director Albert H. Dudley Baltimore, Md-- 1929 Edmund P. Cohill Hancock, Md 1929 Carter G. Osburn _, _ Baltimore, Md_ _.. 1929 Norman James do 1930 Henry B Wilcox do 1930 Wm. H. Matthai _ _. .do _ 1931 Levi B Phillips Cambridge, Md 1931 CHARLOTTE BRANCH HUGH LEACH, Managing Director Hugh*1 Leach Charlotte, N. C 1929 W. J. Roddey Columbia, S. C 1929 Chas. A. Cannon- C \^' o KJ n L c lX o X± r ± d lJ , L C N ly . O C . V^ 1929 Robert Gage Chester, S. C_ 1930 John A. Law Spartanburg, S. C_ 1930 W. H. Wood Charlotte, N. C... 1931 Jno. L.Morehead_. ....do 1931 DISTRICT NO. 6—FEDERAL RESERVE BANK OF ATLANTA OSCAR NEWTON, Chairman and Federal Reserve Agent. W. H. KETTIG, Deputy Chairman. E. R. BLACK, Governor. Class A: G. G. Ware _ Leesburg, Fla. _. 1929 H. Lane Young _ Atlanta, Ga > . 1930 E C Melvin Selma, Ala 1931 Class B: Leon C. Simon _ New Orleans, La 1929 J. A. McCrary Decatur, Ga 1930 Luke Lea Nashville, Tenn_ 1931 Class C: Oscar Newton Atlanta, Ga 1929 Geo S Harris do 1930 W. H. Kettig.. Birmingham, Ala 1931 NEW ORLEANS BRANCH MARCUS WALKER, Managing Director Marcus Walker - --- New Orleans, La_. 1929 L. C. Simon _ - do_ 1929 F. W. Foote Hattiesburg, Miss_ 1929 Albert P. Bush Mobile, Ala 1930 James E. Bouden, jr I New Orleans, La__ 1930 P. H. Saunders | do 1921 R. S. Hecht J do 1£31 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
253 GOVERNORS AND DIRECTORS 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. 1929 Oscar Wells do 1929 W. W. Crawford... do 1929 E. F. Allison Bellamy, Ala 1930 Walter E. Henley.. Birmingham, Ala_ 1930 W. H. Kettig do 1931 John H. Frye do 1931 JACKSONVILLE BRANCH W. S. MCLARIN, Jr., Managing Director W. S. McLarin jr Jacksonville. Fla 1929 Fulton Saussy l _ do . . 1929 Edward W. Lane do 1929 S. 0. Chase ... Sanford, Fla 1930 A. F. Perry Jacksonville, Fla 1930 J. C. Cooper do 1931 G. G. Ware Leesburg, Fla 1931 NASHVILLE BRANCH JOEL B. FORT, Jr., Managing Director Joel B. Fort, jr Nashville, Tenn 1929 P. M. Davis do 1929 E. A. Lindsey do 1929 Wm. P. Ridley. Columbia, Tenn 1930 J. E. Caldwell Nashville, Tenn 1930 do 1931 J. B. Ramsey _ Knoxville, Tenn 1931 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: E. L. Johnson Waterloo, Iowa. 1929 George M. Reynolds. Chicago, 111. 1930 Edward R. Estberg.. Waukesha, Wis. 1931 Class B: Robert Mueller Decatur, 111 1929 A. H. Vogel Milwaukee, Wis. 1930 S. T. Crapo Detroit, Mich__. 1931 Class C: James Simpson Chicago, 111. 1929 W. A. Heath do_ 1930 F. C. Ball.. Muncie, Ind. 1931 DETROIT BRANCH WM. R. CATION, Managing Director Wm. R. Cation _ ._ Detroit, Mich 1929 N. P. Hull Lansing, Mich 1929 Julius H. Haass Detroit, Mich . . 1929 David McMorran Port Huron, Mich 1930 Geo. B. Morley Saginaw, Mich _ 1930 James Inglis . . Detroit, Mich 1931 Wm. J. Gray _. do__ 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
254 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 8—FEDERAL RESERVE BANK OF ST. LOUIS HOLLA WELLS, Chairman and Federal Reserve Agent. JOHN W. BOEHNE, Deputy Chairman. WILLIAM McC. MARTIN, Governor. Term Director Residence expires Dec. 31 Class A: John G. Lonsdale St. Louis, Mo 1929 Max B. Nahm ___ Bowling Green, Ky._ 1930 John C. Martin __ Salem, 111 1931 Class B: LeRoy Percy _ Greenville, Miss 1929 Vacancy 1930 W. B. Plunkett___ Little Rock, Ark 1931 Class C: John W. Boehne Evansville, Ind 1929 Rolla Wells St. Louis, Mo 1930 Paul Dillard _ Memphis, Tenn _ 1931 LOUISVILLE BRANCH W. P. KINCHELOE, Managing Director W. P. Kincheloe.. Louisville, Ky. 1929 Wm. Black .do- 1929 Eugene E. Hoge.. Frankfort, Ky. 1929 E. H. Woods Lucas, Ky. 1930 T. D. Scales Boonville, Ind. 1930 E. L. Swearingen. Louisville, Ky.. 1931 Jno. T. Reynolds. Greenville, Ky_. 1931 MEMPHIS BRANCH W. H. GLASGOW, Managing Director W. H. Glasgow Memphis, Tenn_. 1929 Wm. Orgill do 1929 Jno. D. McDowell do 1929 E. L. Anderson I Clarksdale, Miss.. 1930 R. Brinkley Snowden___ Memphis, Tenn. 1930 Jno. W. Alderson. Forrest City, Ark. 1931 S. E. Ragland.. Memphis, Tenn... 1931 LITTLE ROCK BRANCH A. F. BAILEY, Managing Director A. F. Bailey. j Little Rock, Ark 1929 G. H. Campbell do 1929 Stuart Wilson | Texarkana, Ark 1929 Hamp Williams. ! Hot Springs, Ark _. 1930 John M. Davis j Little Rock, Ark 1930 Moorhead Wright j do.. __. _ 1931 Jo. Nichol ! Pine Bluff, Ark 1931 DISTRICT NO. 9—FEDERAL RESERVE BANK OF MINNEAPOLIS JOHN R. MITCHELL, Chairman and Federal Reserve Agent. HOMER P. CLARK, Deputy Chairman. W. B. GEERY, Governor. Class A: J. C. Bassett Aberdeen, S. Dak _ 1929 Karl J. Farup . Park River, N. Dak 1930 Paul J Leeman Minneapolis, Minn 1931 Class B: N. B. Holter... Helena, Mont 1929 John S. Owen Eau Claire, Wis ._ 1930 Paul N. Myers St. Paul, Minn 1931 Class C: John R. Mitchell—. - Minneapolis, Minn 1929 Homer P. Clark St. Paul, Minn. 1930 Geo. W. McCormick Menominee, Mich 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNOKS AND DIRECTORS 255 DISTRICT NO. 9—FEDERAL RESERVE BANK OF MINNEAPOLIS—Continued HELENA BRANCH R. E. TOWLE, Managing Director Term Director Residence expires Dec. 31 R E Towle TTftlp.na., Mont 1929 Henry Sieben. 1929 T A Marlow do .. 1929 C. J. Kelly. Butte, Mont 1930 R. 0. Kaufman Helena, Mont 1930 DISTRICT NO. 10—FEDERAL RESERVE BANK OF KANSAS CITY M. L. MCCLURE, Chairman and Federal Reserve Agent. WM. L. PETRIKIN, Deputy Chairman. W. J. BAILEY, Governor Class A: E. E. Mullaney Hill City, Kans. 1929 C. C. Parks Denver, Colo 1930 Frank W. Sponable. Paola, Kans 1931 ClassB: L. E. Phillips.. Bartlesville, Okla. 1929 Thos. C. Byrne Omaha, Nebr 1930 J. M. Bernardin Kansas City, Mo.. 1931 Class C: M. L. McClure ...-do 1929 E. M. Brass.... Grand Island, Nebr.. 1930 Wm. L. Petrikin Denver, Colo 1931 DENVER BRANCH J. E. OLSON, Managing Director J. E. Olson __ Denver, Colo _ 1929 R. H. Davis do - — 1929 Henry Swan . _ . . _ do _ 1929 Merritt W. Gano do 1930 Harold Kountze . _. do _- 1930 Murdo MacKenzie do 1931 Harry W. Farr _._ _ _ Greeley, Colo _ _ 1931 OMAHA BRANCH L. H. EARHART, Managing Director L. H. Earhart.. Omaha, Nebr _ 1929 Wm. E. Hardy Lincoln, Nebr ___ 1929 T. L. Davis Omaha, Nebr 1929 W. W. Magee.. Bennington, Nebr ___ 1930 R. O. Marnell.. Nebraska City, Nebr. 1930 Wm. Diesing... Omaha, Nebr.. _ 1931 A. H. Marble.. Cheyenne, Wyo 1931 OKLAHOMA CITY BRANCH C. E. DANIEL, Managing Director C. E. Daniel. 1929 Austin Miller. 1929 Walter Ferguson. Tulsa, Okla 1929 E. J. Murphy Clinton,. Okla 1930 William Mee. Oklahoma City, Okla 1930 W. F. Nichols. Tulsa, Okla 1931 Ned Holman Guthrie, Okla 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
256 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 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: Howell E. Smith _ McKinney, Tex 1929 J. H. Frost San Antonio, Tex 1930 W. H. Patrick Clarendon, Tex _. 1931 Class B: J. J. Culbertson _ Paris, Tex 1929 J. R. Milan _ Waco, Tex 1930 A. S. Cleveland Houston, Tex 1931 Class C: Clarence E. Linz _ Dallas, Tex 1929 S. B. Perkins do 1930 C. C. Walsh 1 do 1931 EL PASO BRANCH W. O. FORD, Managing Director W. O. Ford El Paso, Tex., 1929 A. P. Coles .do.. 1929 E. A. Cahoon Roswell, N. Mex__. 1929 A. J. Crawford Carlsbad, N. Mex., 1930 Geo. D. Flory El Paso, Tex 1930 C. M. Newman do 1931 E. M. Hurd do 1931 HOUSTON BRANCH D. P. REORDAN, Managing Director D. P. Reordan Houston, Tex. 1929 J Cooke Wilson Beaumont, Tex 1929 E. F. Gossett ._ Houston, Tex. 1929 E.A. Peden do 1930 Fred W. Catterall— Galveston, Tex 1930 R M. Farrar Houston, Tex 1931 Guy M. Bryan . do 1931 SAN ANTONIO BRANCH M. CRUMP, Managing Director M. Crump. __ . San Antonio, Tex __ _ 1929 Frank G. Crow McAllen, Tex 1929 Franz C. Groos San Antonio, Tex 1929 Jno. M. Bennett . .. do 1930 R T Hunnicutt . Del Rio, Tex 1930 Reagan Houston San Antonio, Tex . 1931 Ernest Steves. _ do 1931 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: I T. H. Ramsay.... ! Red Bluff, Calif 1929 Vernon H. Vawter _. i Medford, Oreg 1930 C. K. Mclntosh I San Francisco, Calif.. 1931 Class B: A. B. C. Dohrmann ....do 1929 Wm. T. Sesnon... Soquel, Calif... 1930 E. H. Cox Madera, Calif.. 1931 Class C: Isaac B. Newton _ San Francisco, Calif.. 1929 Walton N. Moore _ i do. 1930 Wm. Sproule i do 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNORS AND DIRECTORS 257 DISTRICT NO. 12—FEDERAL RESERVE BANK OF SAN FRANCISCO—Continued PORTLAND BRANCH R. B. WEST, Managing Director Term Director Residence expires Dec. 31 R. B. West Portland, Oreg. 1929 Nathan Strauss.. . _ do 1929 J C. Ainsworth do_ . 1929 Edward C. Pease ._ . _. The Dalles, Oreg 1930 John F. Daly Portland, Oreg___ 1930 SEATTLE BRANCH C. R. SHAW, Managing Director C. R. Shaw... Seattle, Wash. _ 1929 Chas. H. Clarke. . . do 1929 M. A. Arnold. . do 1929 Henry A. Rhodes _ Tacoma, Wash 1930 M. F. Backus _ Seattle, Wash...... 1930 SPOKANE BRANCH D. L. DAVIS, Managing Director D. L. Davis Spokane, Wash. 1929 G. I. Toevs do- 1929 D. W. Twohy... do 1929 Peter McGregor.. Hooper, Wash 1930 R. L. Rutter Spokane, Wash. 1930 SALT LAKE CITY BRANCH W. L. PARTNER, Managing Director W. L. Partner Salt Lake City, Utah. 1929 Lafayette Hanchett. .do,. 1929 Chas. H. Barton Ogden, Utah _ 1929 L. H. Farnsworth... .1 Salt Lake City, Utah. 1930 G. G. Wright ...do ..... 1930 LOS ANGELES BRANCH W. N. AMBROSE, Managing Director W. N. Ambrose Los Angeles, Calif- 1929 W. L. Valentine Fullerton, Calif-... 1929 J. F. Sartori Los Angeles, Calif.. 1929 J. B. Alexander _ ..do.. 1930 Henry M. Robinson. ..do.. 1930 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
258 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SALARIES OF OFFICERS AND EMPLOYEES OF FEDERAL RESERVE BANKS ALL FEDERAL RESERVE BANKS AND BRANCHES COMBINED Number Annual salaries Officers and employees 1928 1927 1928 1927 Officers: Chairman and Federal reserve agent. 12 12 $278, 000 $276, 000 Governor - 12 12 33?, 500 332, 500 Other officers _ ._ 242 241 1, 924,230 1,854,850 Employees by departments: i Banking department 8,925.38 I 8, 991. 08 12, 985, 500 12,839, 794 Federal reserve agent's department... 289.88 I 291. 88 702,056 693,962 Auditing department 198 i 197 443,086 439, 298 Fiscal agency department 309.74 363. 04 559,139 622, 061 Total. 9,989 10,108 17, 223, 511 17, 058,465 FEDERAL RESERVE BANK OF BOSTON Officers: Chairman and Federal reserve agent 1 $20, 000 $20, 000 Governor 1 25, 000 25,000 Other officers 8 75, 000 73, 000 Employees by departments: Banking department 650 636 871,360 846, 232 Federal reserve agent's department.. 30 29 72,400 68, 450 Auditing department _ 10 10 23,980 23,380 Fiscal agency department 25 23 49,800 45,120 Total _... 725 708 1,137, 540 1,101,182 FEDERAL RESERVE BANK OF NEW YORK (INCLUDING BUFFALO BRANCH) Officers: Chairman and Federal reserve agent 1 1 $50,000 $50,000 Governor... 1 1 37,000 50,000 Other officers.... _ 30 28 412, 700 381, 700 Employees by departments: Banking department _ _ 2,305 2,244 3, 513, 571 3,389, 916 Federal reserve agent's department- 63 67 147,450 154, 490 Auditing department __ 42 41 95,960 99, 590 Fiscal agency department 40 47 77, 640 91,320 Total 2,482 2,429 4, 334, 321 4, 217,016 FEDERAL RESERVE BANK OF PHILADELPHIA Officers: Chairman and Federal reserve agent 1 1 $20,000 $20,000 Governor _ _. 1 1 27,000 25,000 Other officers 10 10 92, 500 88,500 Employees by departments: Banking department- _ 623 635 888,106 878,316 Federal reserve agent's department.. 29 30 71, 776 69, 774 Auditing department 25 25 53, 350 52,710 Fiscal agency department 21 27 34, 454 39,290 Total 710 729 1,187,186 1,173, 590 FEDERAL RESERVE BANK OF CLEVELAND (INCLUDING CINCINNATI AND PITTSBURGH BRANCHES) Officers: Chairman and Federal reserve agent 1 $20,000 $18,000 Governor.. 1 30, 000 30,000 Other officers 19 165, 800 173,100 Employees by departments: Banking department 817 1, 237,344 1, 216, 313 Federal reserve agent's department.. 28 69, 740 66, 768 Auditing department 22 59,476 57, 238 Fiscal agency department- 30 54,140 76, 359 Total _ 918 956 1,636, 500 1, 637, 778 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
259 FEDERAL RESERVE BANK SALARIES FEDERAL RESERVE BANK OF RICHMOND (INCLUDING BALTIMORE AND CHARLOTTE BRANCHES) Number Annual salaries Officers and employees 1928 1927 1928 1927 Officers: Chairman and Federal reserve agent 1 1 $20, 000 $20,000 Governor 1 1 25,000 25,000 Other officers 17 17 131, 500 125, 900 Employees by departments: Banking department 523 505 697, 710 657, 980 Federal reserve agent's department.. 9 9 24, 900 23, 640 Auditing department 7 7 16, 620 15, 780 Fiscal agency department 14 14 18, 540 18,210 Total. 572 554 934, 270 886, 510 FEDERAL RESERVE BANK OF ATLANTA (INCLUDING BIRMINGHAM, JACKSON- VILLE, NASHVILLE, AND NEW ORLEANS BRANCHES AND HABANA AND SAVANNAH AGENCIES) Officers: Chairman and Federal reserve agent 1 1 $20, 000 $20, 000 Governor __ 1 1 25, 000 25, 000 Other officers 28 27 159, 280 153, 700 Employees by departments: Banking department _ 370. 58 366. 61 461, 805 448, 598 Federal reserve agent's department.. 7.88 6.88 20, 610 17,990 Auditing department 10 9 21, 480 21, 000 Fiscal agency department 9.54 9.51 16, 645 16, 740 Total__ 428 421 724, 820 703,028 FEDERAL RESERVE BANK OF CHICAGO (INCLUDING DETROIT BRANCH) Officers: Chairman and Federal reserve agent 1 1 $24, 000 $24,000 Governor 1 1 35,000 35,000 Other officers.._ __ 30 30 253, 050 241, 050 Employees by departments: B anking department 1,246 1,348 1, 890,832 1, 977, 340 Federal reserve agent's department. 41 39 98,860 93,970 Auditing department__ 20 21 45,120 47, 240 Fiscal agency department 57 74 107,720 124,190 Total. _ 1,3 1,514 2,454,582 2,542, 790 FEDERAL RESERVE BANK OF ST. LOUIS (INCLUDING LITTLE ROCK, LOUISVILLE, AND MEMPHIS BRANCHES) Officers: Chairman and Federal reserve agent 1 1 $20,000 $20,000 Governor __ 1 1 25,000 25,000 Other officers 20 20 127,400 126, 600 Employees by departments: Banking department 465 468 593,791 599, 755 Federal reserve agent's department- 15 14 37, 920 35, 220 Auditing department 13 12 21, 920 19, 260 Fiscal agency department 23 25 39,160 43, 300 TotaL. -_. 538 541 865,191 19,135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
260 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANK OF MINNEAPOLIS (INCLUDING HELENA BRANCH) Number Annual salaries Officers and employees 1928 1927 1928 1927 Officers: Chairman and Federal reserve agent 1 1 $20, 000 $20, 000 Governor. 1 1 22, 500 17, 500 Other officers 13 13 79,800 74, 000 Employees by departments: Banking department 261. 70 286. 47 368, 522 391, 204 Federal reserve agent's department... 11 11 21,900 21, 060 Auditing department 11 11 23,640 22, 900 Fiscal agency department 15.3 16.53 25,858 26,492 Total 314 340 562, 220 573,156 FEDERAL RESERVE BANK OF KANASAS CITY (INCLUDING DENVER, OKLAHOMA CITY, AND OMAHA BRANCHES) Officers: Chairman and Federal reserve agent 1 1 $20, 000 $20, 000 Governor _ 1 1 25,000 25, 000 Other officers 19 18 124,900 116,300 Employees by departments: Banking department 516.10 514 748, 759 744, 920 Federal reserve agent's department.. 13 13 30,800 30, 500 Auditing department 17 18 35,160 36, 820 Fiscal agency department... 35.90 41 61,802 66, 400 Total 603 606 1,046, 421 1, 039, 940 FEDERAL RESERVE BANK OF DALLAS (INCLUDING EL PASO, HOUSTON, AND SAN ANTONIO BRANCHES) Officers: Chairman and Federal reserve agent 1 1 $20, 000 $20, 000 Governor 1 1 25,000 25, 000 Other officers 18 18 110,300 106, 200 Employees by departments: Banking department. _ 366 370 541, 060 535, 720 Federal reserve agent's department.. 16 16 40,300 38, 660 Auditing department 14 14 31, 080 28, 980 Fiscal agency department 17 18 34,800 35, 700 Total 433 802, 540 790, 260 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 30, 000 25, 000 Other officers. 30 31 192, 000 194,800 Employees by departments: Banking department 782 780 1,172, 640 1,153, 500 Federal reserve agent's department _. 27 29 65, 400 73, 440 Auditing department 7 7 15, 300 14, 400 Fiscal agency department 22 23 38, 580 38, 940 Total 872 1, 537, 920 1, 524, 080 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 1,208 State bank and trust company active members of the Federal reserve system on December 31, 1928, with their loans, investments, deposits, capital, and surplus: [Figures of "loans" include overdrafts and rediscounts, but exclude acceptances of other banks and bills of exchange sold with indorsement] [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 1 CONNECTICUT Hartford—Phoenix State Bank & Trust Co.. 24,349 878 29,032 1,600 1,600 New Britain—New Britain Trust Co 4,500 978 4,774 1,000 700 South Manchester—Manchester Trust Co__. 1,758 66 1,789 200 100 Waterbury— Celonial Trust Co 7,548 2,140 7,588 1,000 2,500 MAINE Ellsworth—Union Trust Co. 1,799 1,507 3,314 100 100 Sanford—Sanford Trust Co._ 1,403 924 2,070 100 100 MASSACHUSETTS Arlington—Menotomy Trust Co 3,024 783 3,796 200 200 Boston— American Trust Co 21, 882 4, 983 33, 335 1,500 2,000 Bank of Commerce & Trust Co 7,168 1,026 7,618 1,000 368 Beacon Trust Co 36,153 2,541 39, 282 3,000 3,000 Exchange Trust Co 13, 309 5,716 18,165 1,500 1,500 New England Trust Co 19, 326 2,784 25, 576 1,000 2,000 Old Colony Trust Co 141,158 28, 615 181, 896 15,000 11, 000 State Street Trust Co 53,616 4,607 66, 244 3,000 3,500 United States Trust Co 11, 304 12, 284 21,169 2,500 3,000 Cambridge— Harvard Trust Co 14,657 3,882 18, 718 750 550 Inman Trust Co 3,079 904 4,001 200 150 Fall River—B. M. C. Durfee Trust Co 10, 753 3,323 11, 848 1,200 800 Gloucester—Gloucester Safe Deposit & Trust Co 4,402 963 5,624 200 200 Greenfield—Franklin County Trust Co 4,526 719 4,851 200 100 Holyoke—Hadley Falls Trust Co 12, 449 3,037 16,123 750 275 Lawrence—Merchants Trust Co 6,289 1,705 8,717 300 300 Lynn—Security Trust Co 6,790 1,673 8,672 200 300 Newton—Newton Trust Co 11, 265 5,112 14, 591 750 750 Norwood—Norwood Trust Co 3,298 2,299 5,364 300 250 Quincy— Quincy Trust Co 4,116 1,225 5,421 200 100 Salem—Naumkeag Trust Co 4,377 2,014 6,339 250 250 Waltham—Waltham Trust Co 6,532 1,590 7, 669 400 400 Winchester—Winchester Trust Co 1,250 1,162 2,303 100 100 Worcester—Worcester Bank & Trust Co 22, 338 12,188 33,142 2,000 2,000 NEW HAMPSHIRE Conway—Carroll County Trust Co-_ 949 328 1,365 75 | 25 RHODE ISLAND Providence- Columbus Exchange Bank 2,026 1,326 3,129 200 80 Industrial Trust Co 81, 528 65, 954 143, 337 4,000 7,500 Rhode Island Hospital Trust Co. 58,480 43, 557 97, 820 3,000 7,000 Union Trust Co 17, 628 9,014 27, 517 1,000 750 DISTRICT NO. 2 NEW JERSEY (See also District No. 3) Asbury Park—Seacoast Trust Co 5,064 1,605 5,364 500 500 Bayonne—Bayonne Trust Co 8, 627 1,740 10, 610 400 ! 500 Bloomfield— Bloomfield Trust Co 4,834 4, 902 8, 874 1,000 ! 600 W Co a m tse m s u si n n i g ty B T a r n u k s . t Co 2, 8 12 00 6 1, 3 1 0 117 9 7 I 3 1 , , 1 1 7 5 0 0 2 1 0 0 0 0 1 5 0 0 0 261 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
262 ANNUAL REPOKT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 2—Continued NEW JERSEY—continued Bogota—Bank of Bogota 1,139 662 1,863 100 75 Boonton—Boonton Trust Co 1,498 322 1,801 100 100 Carteret—Carteret Trust Co 607 378 845 100 25 Cranford—Cranford Trust Co 2,824 763 3,269 200 200 Dunellen—People's Trust Co 306 120 412 100 50 East Orange- East Orange Trust Co 1,440 187 1,563 200 50 Savings Investment & Trust Co 16,863 6,707 24, 369 1,500 1,800 Elizabeth- Central Home Trust Co 4,589 673 5,125 500 250 Elizabethport Banking Co 5,906 1,664 7,038 457 500 Fort Lee—Fort Lee Trust Co 888 165 1,077 100 50 Franklin—Sussex County Trust Co 1,428 1,361 2,911 100 100 Glen Ridge—Glen Ridge Trust Co.. 1,755 1,549 3, 331 200 50 Hackensack—Peoples Trust & Guaranty Co 12, 594 3,576 13, 683 1,000 650 Hasbrouck Heights—Bank of Hasbrouck Heights.. 559 515 1,078 75 75 Hoboken—Jefferson Trust Co 7,347 1,004 8,318 400 100 Jersey City— Claremont Bank 3,719 11,013 200 400 Commercial Trust Co 41, 822 15,846 63, 741 3,000 5,500 New Jersey Title Guarantee & Trust Co 29, 468 6,988 28, 985 2,000 2,000 Linden—Linden Trust Co 1, 013 189 1,132 200 50 Montclair— Bank of Montclair. 5,342 1,922 7,018 400 150 Montclair Trust Co 10, 408 3,675 13, 557 1,000 750 Morristown—Morristown Trust Co 8,357 5,728 13,632 1,000 750 Newark— Clinton Trust Co 7,320 2,193 8,771 700 1, 000 Columbus Trust Co 1,306 237 1,309 400 200 Federal Trust Co 28, 111 10, 744 38,092 3,900 2,700 Fidelity Union Trust Co 78,456 56,196 135,508 6,000 6,000 Franklin Washington Trust Co 11,160 1,881 14,100 1,200 500 Guaranty Trust Co 1,694 304 1,745 500 188 Merchants & Newark Trust Co 20, 072 6,254 25, 933 2,500 2,500 United States Trust Co 3,910 1,016 3,795 1,200 820 Nutley—Bank of Nutley 2,392 694 3,026 200 125 Orange—Trust Co. of Orange 2,008 635 1,939 700 250 Palisades Park—Morsemere Trust Co 364 77 470 100 25 Passaic—Peoples Bank & Trust Co 6,891 2,389 8,587 600 900 Paterson—Hamilton Trust Co 8,585 3,752 12, 610 750 650 Perth Amboy— Perth Amboy Trust Co 5,655 2,807 10, 242 300 500 Raritan Trust Co. 1,392 229 1,767 200 150 Plainfield— Guaranty Trust Co 1,196 269 1,494 250 50 Mid-City Trust Co. 1,507 450 1,749 200 80 Plainfield Trust Co 15, 546 5,459 21,180 650 1,000 Rahway—Rahway Trust Co 1,065 556 1,617 200 100 Ridgefield Park— Overpeck Trust Co 1,451 327 1,751 150 50 Ridgefield Park Trust Co 1,622 1,153 2,784 100 150 Ridgewood—Ridgewood Trust Co 2,012 1,094 3,416 150 75 Rutherford—Rutherford Trust Co 3,279 637 3,304 200 400 Union City and Hoboken—Hudson Trust Co 14, 478 IS,427 32, 262 1,000 3,000 Westfield— Peoples Bank & Trust Co 4,404 1,091 5,333 200 200 Westfield Trust Co 4,593 627 4,930 300 200 West Orange—West Orange Trust Co 957 257 1,134 150 26 Westwood—Westwood Trust Co 1, 365 66 1,323 150 75 NEW YORK Adams—Citizens Trust Co 1,381 202 1,647 150 75 Albany—First Trust Co 19, 257 8,127 33, 849 1,000 1,000 Albion—Orleans County Trust Co 612 201 829 100 10 Amsterdam—Montgomery County Trust Co_. 3,570 2,043 4,812 200 500 Avoca—Bank of Avoca 283 426 638 50 50 Batavia—Genesee Trust Co 1, 760 940 2,702 100 100 Belmont—State Bank of Belmont ' 527 125 617 50 50 Binghamton—Peoples Trust Co 7,687 2,678 9,597 500 500 Blasdell—Bank of Blasdell 297 33 320 30 11 Brooklyn- Brooklyn Trust Co 46, 387 22, 695 78, 627 2,080 3,500 Erasmus State Bank 1,233 257 1,651 200 50 Globe Exchange Bank 5,961 1,416 7,093 900 520 Mechanics Bank 39, 233 12, 933 54, 020 4,000 9,000 Midwood Trust Co 9,028 2,101 12, 584 1,000 450 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STATE BANK MEMBERSHIP 263 [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 Capital Surplus DISTRICT NO. 2—Continued NEW YORK—continued Buffalo- Liberty Bank _ 58,935 21, 232 76, 513 4,000 5,000 Manufacturers & Traders-Peoples Trust Co 112, 790 19, 719 132, 053 5,000 10,000 Marine Trust Co _ 183,845 43,566 217,009 10, 000 10,000 Canisteo—First State Bank 411 145 524 50 34 Chatham—State Bank 986 1,590 2,390 100 100 Cohocton—Cohocton State Bank 438 79 548 50 25 Depew—Bank of Depew 791 878 1,493 100 100 Dunkirk—Dunkirk Trust Co 1,831 629 2,196 250 125 East Aurora—Bank of East Aurora 2,556 603 2,949 175 75 Elmira—Chemung Canal Trust Co 6,271 5,172 11, 976 600 800 Endicott— State Bank of Endicott 2,840 1,636 100 100 Union Trust Co 825 1,075 1,845 100 100 Farmingdale—Bank of Farmingdale 688 483 1,196 50 40 Floral Park—Floral Park Bank 2,032 970 2,910 100 50 Fredonia—Citizens Trust Co__ 1,154 1,201 2,061 200 150 Geneva—Geneva Trust Co 3,176 1,619 5,010 250 200 Gloversville—Trust Co. of Fulton County 2,127 422 2,075 350 250 Hamburg—Peoples Bank of Hamburg 1,702 802 2,559 100 170 Hammondsport—Bank of Hammondsport 731 541 1,084 50 100 Hicksville—Bank of Hicksville 2,291 1,007 3,160 100 200 Ithaca—Ithaca Trust Co 4,206 3,155 7,568 300 400 Johnson City—Workers Trust Co _._. 2,497 2,623 4,725 200 200 Katonah—Northern Westchester Bank 601 732 1,304 50 25 Kingston—Kingston Trust Co.__ 4,377 3,920 8,001 250 525 Lackawanna—American Bank 1,130 819 2,014 100 60 Little Falls—Herkimer County Trust Co... 3,154 2,809 5,395 350 350 Lowville—Lewis County Trust Co _. 1, 600 1,169 2,954 200 100 Malone—Peoples Trust Co 3,112 1,252 4,126 300 100 Mayville—State Bank of Mayville 644 558 1,267 50 100 Middleport—Community Trust Co. 482 222 681 100 25 Millbrook—Bank of Millbrook 1,013 1,258 2,173 100 50 Mineola—Nassau County Trust Co 1,697 3,198 5,174 150 150 Mount Kisco—Trust Co. of Northern Westchester.. 810 129 871 100 15 New York- Amalgamated Bank 8,583 3,010 11, 718 650 350 American Exchange Irving Trust Co 407, 621 95,970 732, 029 40,000 40,000 American Trust Co 39, 693 13, 799 64, 586 4,000 2,250 American Union Bank__ 14, 020 1,600 16, 035 2,000 1,000 Bankers Trust Co 373, 698 102, 722 519, 690 25,000 50, 000 Bank of Europe Trust Co 9,265 8,208 16, 891 1,000 500 Bank of the Manhattan Co 203, 546 52,448 465, 762 16,000 16, 000 Bank of New York & Trust Co 58. 863 26, 304 161, 239 6,000 8,000 Bank of United States 140, 373 20, 858 156, 782 17,867 7,500 Bank of Yorktown 6,028 618 6,012 1,000 250 Central Union Trust Co 236, 111 61, 600 297, 398 12, 500 37, 500 Continental Bank 7,649 1,641 54, 565 1,000 1,000 Corn Exchange Bank 110, 045 103, 963 258, 125 11, 000 11, 000 Equitable Trust Co 269, 202 38, 273 417, 326 30, 000 20, 000 Farmers Loan & Trust Co 122,841 31,731 183,502 10,000 10,000 Federation Bank & Trust Co 13,156 4,764 18, 366 750 750 Fidelity Trust Co 35, 342 13,817 60,671 4,000 2,500 Fifth Avenue Bank 21, 074 7,043 31,521 500 2,000 Fulton Trust Co 12, 819 3,249 17, 097 1,000 500 Guaranty Trust Co 406, 613 97, 015 721,928 40,000 50,000 International Acceptance Trust Co 10, 490 5,180 17,119 1,000 1,000 International Germanic Trust Co 13,001 2,567 13,688 4,000 2,000 International Union Bank 3,943 689 4,919 500 500 Interstate Trust Co 31,760 10, 018 48,815 5,175 1,500 Manufacturers Trust Co 219,164 76,168 318, 288 17, 500 22, 500 Merchants Bank 1,155 426 1,561 300 100 Municipal Bank & Trust Co 49,733 13, 983 66,511 5,000 6,000 Murray Hill Trust Co 9,905 2,500 11,466 2,000 1,500 New York Trust Co 176,771 19, 584 394,823 10,000 20,000 Pacific Coast Trust Co 4,098 6,818 23,156 1,500 1,750 Times Square Trust Co 5,528 1,633 5,581 2,000 500 Trade Bank of New York 5,105 1,386 6,177 600 400 United States Mortgage & Trust Co 49,165 14,289 74, 782 5,000 5,000 United States Trust Co 65,426 17,532 71,936 2,000 20,000 Niagara Falls—Power City Bank 13,173 6, 686 20,399 1,000 1,000 Nyack—Rockland County Trust Co 2,981 1,314 4,022 100 100 Olean—Olean Trust Co 993 459 1,382 100 65 Oneida—Madison County Trust & Deposit Co 1,953 1,496 3,709 200 120 Orchard Park—Bank of Orchard Park 748 454 1,148 60 60 Oriskany Falls—First Trust & Deposit Co 492 667 1,034 100 50 Pearl River—State Bank of Pearl River 216 192 396 50 16 Perry—Citizens Bank of Perry 958 347 1,309 50 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
264 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Investjoans ments Surplus DISTRICT NO. 2—Continued NEW YORK—continued Pleasantville—Mount Pleasant Bank & Trust Co. _ 3,269 642 3,665 200 100 Port Chester—Mutual Trust Co. of Westchester County 4,092 652 4,605 300 200 Rochester—Lincoln-Alliance Bank 46,389 6,916 57,304 2,000 2,000 Rome—Rome Trust Co 3,683 2,362 6,262 300 150 Schenectady—Schenectady Trust Co 14,151 5,463 19, 519 500 1,000 Smithtown Branch—Bank of Smithtown 764 433 1,253 50 25 Spring Valley—Ramapo Trust Co 1,127 276 1,267 100 35 Stony Brook—Bank of Suffolk County 618 232 857 50 25 Syracuse- City Bank Trust Co 33,745 3,610 34, 407 3,000 1,500 First Trust & Deposit Co 36,112 21,650 56, 640 3,000 3,000 Syracuse Trust Co__ 25,331 15,922 40, 717 1,500 750 Utica— Citizens Trust Co. of Utica 13,312 5,191 19, 299 1,000 1,000 First Bank & Trust Co __ 13,852 9,385 21, 266 1,500 1,500 Utica Trust & Deposit Co 8,864 6,476 15,259 1,000 700 Warsaw—Trust Co. of Wyoming County 710 422 1,091 100 50 Watertown—Northern New York Trust Co 8,354 2,509 10,735 400 400 Westbury—Bank of Westbury _ 1,096 791 1,976 100 50 White Plains—County Trust Co__ 9,746 1,782 11,211 500 1,500 Williamsville—Amherst Bank _ _. 1,012 937 1,691 100 30 DISTRICT NO. 3 DELAWARE Milford—Milford Trust Co.. 1,354 482 1,564 100 200 Wilmington- Equitable Trust Co 11,974 1,133 8,017 1,500 2,100 Security Trust Co 6,512 3,485 8,751 1,000 1,100 Wilmington Trust Co._ 35,409 2,631 23,318 2,000 1,500 NEW JERSEY (See also district No. 2) Atlantic City— Atlantic Safe Deposit & Trust Co 5,140 1,633 7,097 300 600 Equitable Trust Co 2,908 1,039 4,129 200 400 Burlington—Burlington City Loan & Trust Co 915 1,652 2,190 100 300 Camden— Camden Safe Deposit & Trust Co 11,747 8,814 17,744 850 2,000 Hightstown—Hightstown Trust Co 839 126 987 100 50 Princeton—Princeton Bank & Trust Co 3,212 1,011 4,151 300 300 Riverside—Riverside Trust Co 1,660 252 2,202 100 175 Swedesboro—Swedesboro Trust Co 629 306 939 100 50 Wildwood—Wildwood Title & Trust Co 1,265 174 1,151 100 150 PENNSYLVANIA (See also District No. 4) Allentown— Dime Savings & Trust Co 1,899 512 1,847 500 450 Liberty Trust Co 1,768 1,150 1, 637 647 793 Penn Trust Co 2,975 569 3,077 400 456 Auburn—Bank of Auburn 83 666 655 50 50 Bloomsburg—Bloomsburg Bank-Columbia Trust Co. 2,073 988 2,853 375 125 Carlisle—Carlisle Trust Co 2,721 827 2,215 200 250 Chester—Cambridge Trust Co 5,157 3,140 6,536 750 1,350 Danville—Montour County Trust Co _ 280 345 598 125 25 Du Bois—Union Banking & Trust Co 1,366 1,377 2,161 250 600 Easton—Easton Trust Co 5,420 2,735 7,749 250 1,100 East Petersburg—East Petersburg State Bank 189 67 172 50 25 Egypt—Farmers' Bank of Egypt 445 341 739 60 75 Frackville—Peoples Trust Co _ 331 205 544 125 65 Glenside—Glenside Bank & Trust Co 2, 579 543 2,871 300 150 Harrisburg— Central Trust Co 6,333 1,453 3,826 400 600 Dauphin Deposit Trust Co._. 3,056 1,631 4,998 300 600 Hazleton— American Bank & Trust Co 3,554 1,557 5,096 400 500 Markle Banking & Trust Co 4, 654 3,020 6,810 600 1,300 Peoples Savings & Trust Co 2,647 2,561 4,557 250 500 Honesdale—Wayne County Savings Bank _. 1,744 2,888 3,789 200 800 Houtzdale—Houtzdale Trust Co 355 748 950 125 100 Huntingdon—Grange Trust Co 762 420 1,109 125 80 Jenkintown—Jenkintown_ Bank & Trust Co 5,626 4,652 250 1,000 Kulpmont—Dime Deposit Bank & Trust Co 552 294 648 I 125 120 Lansdale—Lansdale Title & Trust Co 318 144 379 I 125 33 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STATE BANK MEMBERSHIP 265 [In thousands of dollars] Invest- Total Loans Surplus ments deposits DISTRICT NO. 3—Continued PENNSYLVANIA—continued Lemoyne—Lemoyne Trust Co _ 2,426 504 1,023 200 200 Lewistown—Lewistown Trust Co 795 209 760 125 75 Lock Haven—Lock Haven Trust Co 2,003 1,331 2,932 250 450 Luzerne—Merchants & Miners State Bank 283 106 419 50 12 Lykens—Miners Deposit Bank & Trust Co 829 674 1,307 135 135 Mahanoy City—Merchants Banking Trust Co 1,348 602 1,518 200 250 Mechanicsburg—First Bank & Trust Co 1,340 1,255 1,383 250 250 Middletown—Citizens Bank & Trust Co 634 264 685 125 75 Mount Carmel—Liberty State Bank & Trust Co 823 690 1.294 150 150 Myerstown—Myerstown Trust Co.__ 658 432 858 125 125 Nanticoke— Miners Trust Co 1,845 1,133 2,387 300 731 Peoples Savings & Trust Co 383 575 895 180 36 New Oxford—Farmers' and Merchants' Bank 490 421 831 50 100 Norristown— Montgomery Trust Co _ 3,413 3,402 5,763 1,000 1,OOC Norristown-Penn Trust Co__ 6,449 4,376 9,053 1,000 1,000 Olyphant—Olyphant Bank 1,535 1,774 3,163 100 300 Orrstown—Orrstown Bank. _ __ 207 59 254 25 28 Paoli—Paoli Bank & Trust Co 450 317 630 125 75 Philadelphia— Aldine Trust Co 5,279 694 4,627 1,000 700 Bank of North America & Trust Co __ 39,384 12,400 49,198 5,000 5,000 Colonial Trust Co_ 26,147 7,173 33, 034 2,500 3,150 Federal Trust Co 4,062 2,900 6,400 200 450 Fidelity-Philadelphia Trust Co 69,579 41,0fi9 95,498 6,700 21, 000 Girard Trust Co._ __ 31,980 36,149 62, 111 3,000 10, 000 Ninth Bank & Trust Co... - 10, 556 6,966 17,766 1,000 2,000 Northeast-Tacony Bank & Trust Co 1,205 695 1,697 250 150 Pennsylvania Co. for Insurances on Lives and Granting Annuities _. 62,917 27,010 95,082 4,000 15,000 Provident Trust Co. of Philadelphia 22,809 21,350 27,038 3,200 12, 260 West Philadelphia Title & Trust Co 4,842 5,803 9,741 500 900 Port Carbon—Port Carbon State Bank 175 303 494 50 20 Quakertown—Quakertown Trust Co _ 581 633 1,076 125 250 Reading- Berks County Trust Co 5,504 1,815 6,046 1,000 1,250 Northeastern Trust Co _ 2,963 1,274 3,217 600 435 Schnecksville—Schnecksville State Bank 79 113 193 25 10 Schuylkill Haven— Schuylkill Haven Trust Co 1,407 1,015 2,173 125 300 Scranton— Dime Bank-Lincoln Trust Co._ 15,028 4,702 17, 531 1,350 1,000 Dollar State Bank & Trust Co 645 622 1,043 200 175 Shamokin— Dime Trust & Safe Deposit Co__ _. 1, 334 685 2,021 125 300 Shamokin Banking & Trust Co 651 634 1,157 125 125 Steelton—Steelton Bank & Trust Co 1,219 1,385 2,256 350 350 Tamaqua—Peoples Trust Co 950 487 1,200 125 125 Temple—Temple State Bank 106 224 250 75 15 Wilkes-Barre— Dime Bank Title & Trust Co 4,406 660 3,693 500 1, 000- Union Savings Bank & Trust Co 1,486 1,749 2,604 500 375 Wilkes-Barre Deposit & Savings Bank 3,740 | 2,784 5,255 1,693 Williamsport— Lycoming Trust Co 8,933 3, 272 11, 695 2,000 500 Susquehanna Trust Co 4,347 1,001 4,216 500 700 Williamstown—Williams Valley Bank 570 333 840 50 75 Wyomissing—Peoples Trust Co 3,374 1,097 2,775 500 400 York- Citizens' Savings & Trust Co I 2,398 967 2,982 500 300 Guardian Trust Co - 2,722 1,556 4,005 500 650 North York State Bank 149 216 344 40 20 York Trust Co 3,872 880 4,146 500 800 DISTRICT NO. 4 KENTUCKY (See also District No. 8 Lexington—Security Trust Co 2,342 1,289 3,241 500 | 150- Richmond—State Bank & Trust Co.. 1,088 59 1,162 150 55 Akron- omo Central Savings & Trust Co 15, 221 2,945 21, 016 1,500 750 Depositors Savings & Trust Co 7,562 1,321 9,828 500 513 Firestone Park Trust & Savings Bank.. 4,047 1,938 6,607 200 200 First Trust & Savings Bank 21, 968 6,630 28, 399 1,500 1, 500 Alliance—City Savings Bank & Trust Co_. 2,722 1,015 4,027 250 125 Antwerp—Antwerp Exchange Bank Co 280 225 563 25 10* Apple Creek—Apple Creek Banking Co 202 82 258 25 17 Atwater—Atwater Savings Bank 200 74 331 25 41223—2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
266 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 4—Continued OHIO—continued Barberton—Peoples Savings & Banking Co.. 1,798 336 2,391 100 85 Bellefontaine—Peoples-Commercial Bank 1,139 148 1,373 125 33 Bellevue—Wright Banking Co 804 368 1,575 50 50 Bowling Green—State Bank 587 127 700 100 22 Canton—Dime Savings Bank 5,235 3,716 9,468 500 250 Chagrin Falls—Chagrin Falls Banking Co... 2,194 3,080 100 100 Cincinnati- Bank of Commerce & Trust Co 5,801 1,015 6,503 1,000 363 Brighton Bank & Trust Co 10, 944 3,491 16, 266 500 250 Central Trust Co 30, 019 9,894 39, 238 4,000 3,650 Fifth Third Union Trust Co 53, 615 21,456 76, 718 5,000 5,000 Pearl-Market Bank & Trust Co 9,452 2,642 11, 663 500 600 Provident Savings Bank & Trust Co 21, 757 6,779 32, 795 1,700 2,000 Western Bank & Trust Co 13, 563 3,315 16, 979 1,000 1,000 Cleveland- Cleveland Trust Co 194, 718 25, 272 242, 550 10,000 5,140 Guardian Trust Co 96, 532 38, 811 147,186 4,000 6,000 Midland Bank 17,611 5,794 24, 341 2,000 1,000 Pearl Street Savings & Trust Co 22, 266 6,629 28, 588 1,500 1,250 Union Trust Co 214,998 62,199 310, 606 22, 850 12,150 United Banking & Trust Co 27, 060 4,964 33, 265 2,000 1,200 Columbiana—Union Banking Co 447 215 675 50 60 Columbus—First Citizens Trust Co 21, 091 8,118 34, 576 2,500 1,500 Conneaut— Citizens Banking & Trust Co 819 307 1,254 125 20 Conneaut Mutual Loan & Trust Co 1,570 1,089 2,792 125 125 Danville—Commercial & Savings Bank Co.. 370 35 354 25 31 Delphos—Peoples Bank 413 160 607 50 25 Delta—Peoples Savings Bank Co 456 222 723 25 41 Geneva—Geneva Savings Bank Co 1,109 313 1,366 100 100 Gibsonburg— Gibsonburg Banking Co 105 735 50 29 Home Banking Co 519 150 726 25 25 Hillsboro—Hillsboro Bank & Savings Co 423 139 549 50 50 Hubbard—Hubbard Banking Co _ 702 174 978 50 50 Lyons—Farmers State Bank 201 21 231 25 5 Mansfield—Farmers Savings & Trust Co 1,718 641 2,256 200 250 Massillon—Ohio Merchants Trust Co 4,371 1,326 5,860 1,000 281 McCutchenville—Farmers Bank 148 128 30 4 Middlefield—Middlefield Banking Co 465 553 25 30 Middletown—American Trust & Savings Bank. 1,901 652 2,540 150 66 Minerva— Minerva Banking Co 512 161 682 50 24 Minerva Savings & Trust Co 930 320 1,342 125 45 Minster—Minster State Bank 383 459 25 50 Napoleon—Napoleon State Bank 1,432 316 1,666 100 50 Newark- Newark Trust Co 3,839 292 4,400 200 200 Union Trust Co 4,845 6,852 300 62 New Philadelphia- Merchants State Bank 711 100 775 150 56 Ohio Savings & Trust Co 1,192 527 1,729 150 125 Newton Falls—First State Bank 1,470 362 2,199 125 60 Orrville— Orrville Savings Bank 576 215 791 50 52 Peninsula—Peninsula B anking Co 215 100 267 50 11 Portsmouth—Security Bank 2,404 449 2,557 300 200 Kittman—Rittman Savings Bank 506 149 677 60 24 St. Clairsville—Dollar Savings Bank Co 482 293 729 50 40 St. Marys- American State Bank 377 100 503 50 25 Home Banking Co 743 403 1,280 100 38 Shelby—Citizens Bank 847 664 1,469 100 60 Shiloh—Shiloh Savings Bank Co 318 47 320 25 40 Steubenviile— Steubenviile Bank & Trust Co 3,795 870 4,587 650 273 Union Savings Bank & Trust Co 3,497 881 3,916 350 350 Toledo- Commerce Guardian Trust & Savings Bank.. 24, 859 3,259 29, 557 1,400 1,100 Commercial Savings Bank & Trust Co 12, 048 4,583 18, 410 700 325 Toledo Trust Co 31, 382 18, 448 38, 249 5,000 3,000 Upper Sandusky—Citizens Savings Bank 574 175 740 50 50 Vermilion—Erie County Banking Co 529 154 746 50 23 Wakeman—WTakeman Bank Co 284 68 384 25 15 Warren—Union Savings & Trust Co 4,172 908 5,370 600 300 Wellington—First Wellington Bank 1,084 113 1,108 100 100 Wooster—Commercial Banking & Trust Co ... 570 297 818 150 61 Youngstown— City Trust & Savings Bank 13, 757 1,672 14, 612 1,000 1,150 Digitized for FRDoAllSarE SRa vings & Trust Co 23, 210 719 23, 551 2,500 1,250 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
267 STA.TE BA.NK 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 Capital Surplus DISTRICT NO. 4—Continued PENNSYLVANIA (See also District No. 3) Aliquippa—Woodlawn Trust Co 1,655 549 2,150 125 200 Ambridge—Ambridge Savings & Trust Co 2,026 2,601 4,274 125 250 Beaver—Beaver Trust Co 1,437 520 1,597 300 200 Beaver Falls—Federal Title & Trust Co 1,475 253 1,471 200 50 Butler—Guaranty Trust Co 3,096 1,883 4,360 500 600 East Pittsburgh—East Pittsburgh Savings & Trust Co 1,892 2,696 4,970 200 400 Erie—Security Savings & Trust Co 5,422 1,758 7,426 200 600 Greensburg— Merchants Trust Co 2,471 1,156 3,246 300 325 Union Trust Co 2,099 344 2,160 400 100 Meadville—Crawford County Trust Co 1,790 745 2,555 200 100 New Brighton—Beaver County Trust Co-_. 1,194 304 974 400 250 New Castle—Lawrence Savings & Trust Co 2,506 2,351 4,690 300 500 Scalp Level—Merchants & Miners Bank 212 134 293 30 40 Pittsburgh- Allegheny Trust Co 3,304 4,283 6,701 700 1,000 City Deposit Bank & Trust Co 12, 782 6,275 17,815 1,000 1,000 Colonial Trust Co 18,197 7,623 24,180 2,600 3,000 Commonwealth Trust Co 11, 362 4,683 14, 699 1,500 1,500 Oakland Savings & Trust Co 4,029 2,501 6,282 300 500 Pittsburgh Trust Co 11,850 5,500 16, 861 2,000 2,000 Potter Title & Trust Co 6,131 3,100 9,404 500 750 Union Trust Co 102, 444 82, 204 141, 949 1,500 55,000 Washington—First Bank & Trust Co 5,095 1,408 5,950 600 600 Windber—Windber Trust Co - 1,725 2,084 3,216 250 550 WEST VIRGINIA (See also District No. 5) Sisters ville—First Tyler Bank & Trust Co 1,893 2,088 200 Wheeling— Security Trust Co 3,108 1,301 3,843 300 300 Wheeling Bank & Trust Co 6,686 1,114 7,964 500 500 DISTRICT NO. 5 MARYLAND Baltimore- Baltimore Commercial Bank 7,767 2,932 12, 337 1,000 350 Baltimore Trust Co 35, 508 14, 869 56,317 3,500 3,500 Maryland Trust Co 6,600 2,774 12, 730 1,000 750 Forest Hill—Forest Hill State Bank 203 119 284 25 25 Salisbury—Farmers & Merchants Bank _. 1,176 143 1,224 100 100 NORTH CAROLINA Charlotte— American Trust Co 12, 087 1,647 18, 982 1,200 800 Independence Trust Co 6,277 603 7,293 1,000 500 Edenton—Bank of Edenton 1,007 52 918 100 100 Elizabeth City—Carolina Banking & Trust Co 851 21 761 125 5 Forest City—Farmers Bank & Trust Co 1,499 138 1,264 250 250 Tarboro and Speed—Farmers Banking & Trust Co_ 834 150 1,181 100 75 Washington—Bank of Washington 75 1,252 100 91 Winston-Salem, Asheville, Salisbury, High Point, and Raleigh—Wachovia Bank & Trust Co__ 29, 933 9,117 43, 877 2,500 2,000 SOUTH CAROLINA Bishopville—Peoples Bank 185 45 235 25 75 Charleston—Carolina Savings Bank 1,504 1,743 3,133 200 150 Chester—Commercial Bank 732 253 1,186 100 100 Darlington—Bank of Darlington (Inc.) 530 82 666 100 Florence—Commercial Savings Bank 806 772 1,938 125 "50 Hartsville—Bank of Hartsville 675 85 1,055 75 43 W^alterboro—Farmers & Merchants Bank. 342 66 420 100 30 Westminster—Westminster Bank 374 41 580 50 5 Woodruff—Bank of Woodruff. _ 318 4 383 78 21 Blackstone—Citizens Bank & Trust Co 692 101 810 100 70 Chase City—Peoples Bank & Trust Co 674 26 648 100 45 Galax—Peoples State Bank 499 3 515 50 36 Kenbridge—Bank of Lunenburg (Inc.) 613 94 65 110 Petersburg—Petersburg Savings & American Trust Digitized for F C R o ASER 3,442 [ 923 3,926 750 250 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
268 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 Capital Surplus DISTRICT NO. 5—Continued VIRGINIA—continued Richmond- American Bank & Trust Co 15, 798 3,722 17,198 3,500 1,000 Bank of Commerce & Trusts 5,276 595 4,878 500 500 Savings Bank of Richmond 2,173 125 1,787 200 400 State Planters Bank & Trust Co 23, 208 7,892 33.086 2,500 1,500 Union Bank & Federal Trust Co __ 3,993 784 3.541 750 500 Rural Retreat—Peoples Bank 134 3 147 35 4 Victoria—Bank of Victoria 263 20 260 30 WEST VIRGINIA (See also District No. 4) Berwind—Berwind Bank 1,011 260 1,068 100 100 Charleston— Kanawha Banking & Trust Co 3,030 877 3,226 500 250 Kanawha Valley Bank 7,666 2,199 9,947 1,000 1,200 Franklin- Farmers Bank of Pendleton 606 3 50 30 Franklin Bank 327 3 321 40 20 Grafton—Grafton Banking & Trust Co 817 148 1,080 100 30 Harpers Ferry—Bank of Harpers Ferry 146 37 200 25 6 Hurricane—Putnam County Bank 509 27 471 50 35 Martinsburg— Peoples Trust Co 1,500 141 1,715 200 100 Shenandoah Valley Bank & Trust Co.. 476 8 499 100 25 Moorefleld—Hardy County Bank 136 2 116 50 3 Petersburg—Potomac Valley Bank ___ 258 10 230 50 7 St. Marys—Pleasants County Bank 374 29 366 75 30 Salem—Merchants & Producers Bank. 466 485 50 4 DISTRICT NO. 6 ALABAMA Birmingham- Birmingham Trust & Savings Co 17,135 2,515 21, 090 1,000 1,200 Southern Bank & Trust Co 2,070 50 1,705 500 55 Clayton—Bank of Commerce 233 17 248 50 30 Guin—Marion County Banking Co 336 14 435 25 50 Hartselle—Farmers & Merchants Bank 369 2 478 50 10 Marion—Marion Central Bank 447 109 531 50 100 Monroeville—Monroe County Bank 480 328 624 100 50 Orrville— Orrville Bank & Trust Co.. 99 11 80 35 7 Roanoke— Merchants & Farmers Bank 394 3 531 75 15 Roanoke Banking Co 1,086 112 1,028 200 100 Samson—Farmers & Merchants Bank 243 63 266 60 20 Selma—Peoples Bank & Trust Co 1,157 34 938 100 100 Tuskegee—Macon County Bank 372 42 466 50 75 Wetumpka—Bank of Wetumpka 118 12 313 25 15 FLORIDA Lake Wales—Citizens Bank 248 43 349 75 13 Leesburg—Leesburg State Bank __. 711 624 1,353 100 50 Marianna—Citizens State Bank 210 67 283 30 Tallahassee—Exchange Bank 334 113 577 50 ""56 Tampa—Citizens Bank & Trust Co 11, 944 2,799 16,134 1,000 1,000 Winter Park—Bank of Winter Park 397 196 797 60 20 GEORGIA Atlanta- Atlanta Trust Co 4,259 4,616 1,500 300 Georgia Savings Bank & Trust Co 3,610 1,732 4,655 500 450 Trust Co. of Georgia 8,958 5,935 8,756 2,000 1,000 Bainbridge— Citizens Bank & Trust Co... 656 14 834 100 20 Brunswick—Brunswick Bank & Trust Co 1,141 472 1,737 230 103 Carrollton—Peoples Bank 255 304 747 60 12 Claxton—Citizens Bank 120 3 148 30 6 Commerce—Northeastern Banking Co 402 134 532 100 65 Cordele—Exchange Bank 544 642 100 100 Dawson—Bank of Dawson 442 303 100 50 Eastman— Bank of Eastman 200 64 210 60 11 Citizens Banking Co 431 108 382 100 20 Eatonton— Farmers & Merchants Bank 39 53 25 Middle Georgia Bank 144 180 50 Forsyth—Monroe County Bank 194 225 25 25 Graymont—Bank of Graymont 33 35 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
269 STATE BANK MEMBERSHIP [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 6—Continued GEORGIA—continued Greenville- Greenville Banking Co 284 10 305 65 58 Peoples Bank 164 2 111 30 28 Hoschton—Bank of Hoschton 37 1 51 30 12 Jackson—Jackson Banking Co 184 53 175 100 20 Jefferson—Citizens Bank & Trust Co 253 40 238 95 15 LaGrange—LaGrange Banking & Trust Co 1,988 133 1,777 250 410 Lawrenceville—Brand Banking Co 276 238 901 50 50 Lincolnton—Farmers State Bank 158 9 232 25 15 Macon—Continental Trust Co 2,233 539 3,863 150 50 McDonough— Bank of Henry County 248 121 50 12 Farmers & Merchants Bank 141 137 50 25 Metter— Bank of Candler County 140 1 178 25 4 Citizens Bank 173 2 147 30 20 Millen—Bank of Millen__ 267 13 466 50 50 Monroe- Bank of Monroe 449 93 528 150 75 Farmers Bank 381 189 622 100 30 Pelham—Farmers Bank 305 52 344 100 50 Portal—Bank of Portal 83 2 59 25 Reynnolds—Citizens State Bank 45 44 25 5 Rhine—Rhine Banking Co 45 21 87 25 6 Sardis—Peoples Bank 1 26 25 6 Sasser—Bank of Sasser 2 25 33 Savannah- Citizens Bank & Trust Co 1,399 23 1,144 300 75 Liberty Bank & Trust Co 3,688 815 4,875 300 350 Savannah Bank & Trust Co 3,612 65 3,454 700 200 Soperton—Bank of Soperton 220 12 279 25 25 Statesboro—Bank of Statesboro 550 139 660 100 75 Swainsboro—Central Bank _.. 122 1 173 25 15 Toccoa—Bank of Toccoa 8 212 50 i 10 Wadley—Bank of Wadley 2 73 25 25 Winterville—Pittard Banking Co 23 12 25 1 LOUISIANA (See also District No. 11) Gretna—Jefferson Trust & Savings Bank 937 507 1,335 40 New Orleans- Algiers Trust & Savings Bank 911 1,000 1,355 200 55 American Bank & Trust Co 8,035 3,725 11,322 500 250 Canal Bank & Trust Co 67,173 21,083 99,632 6,000 3,000 Hibernia Bank & Trust Co 37,435 14,810 59, 626 2,500 3,000 Interstate Trust & Banking Co 10,150 2,132 12, 435 750 1,150 New Orleans Bank & Trust Co 9,023 3,341 9,661 1,200 300 Opelousas—Parish Bank & Trust Co 383 20 513 50 14 TENNESSEE (See also District No. 8) Chattanooga—Chattanooga Savings Bank & Trust Co 5,402 578 6,426 1,000 I 500 DISTRICT NO. 7 ILLINOIS (See also District No. 8 Argenta—Gerber State Bank 193 34 222 25 10 Auburn—Auburn State Bank 430 112 577 50 21 Barrington—First State Bank 634 75 729 50 50 Chicago- Adams State Bank 1,062 1,363 2,686 200 50 Austin State Bank 3,853 2,057 6,677 500 150 Capital State Savings Bank 2,904 1,772 4,698 300 100 Central Trust Co. of Illinois 81, 705 26, 092 114, 801 8,000 6.000 Chicago Trust Co 30, 309 5,212 42, 410 3,000 2,000 Depositors State Bank 3,103 2,112 5,480 350 250 Drexel State Bank 5,841 1,745 8, 528 350 250 First Trust & Savings Bank 85, 627 45, 809 115,117 7,500 7,500 Harris Trust & Savings Bank 48, 035 30,187 85,093 4,000 5,000 Home Bank & Trust Co 6,730 3,164 9,175 1,000 500 Illinois Merchants Trust Co 262, 691 87, 499 369,846 15, 000 30, 000 Independence State Bank 4,443 846 5,526 400 125 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
270 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 ILLINOIS—continued Chicago—Continued. Kaspar American State Bank 7,404 8,284 14,710 1,600 400 Madison & Kedzie State Bank 12, 713 903 14, 966 1,350 250 Mercantile Trust & Savings Bank__. 8,515 1, 454 11,474 600 400 Noel State Bank 8,619 186 9,592 1,000 400 Northern Trust Co 45, 755 11, 224 64, 495 2,000 3,000 North-Western Trust & Savings Bank 10, 858 6,626 19, 557 1,250 600 Second Security Bank 4,278 1,746 6,192 350 350 Security Bank 6,510 2, 513 9,119 700 500 South Side Trust & Savings Bank 6,403 1,546 8,693 750 250 State Bank of Chicago 52,678 j 5, 988 59, 730 5,000 5,000 Twenty-Sixth Street State Bank 634 I 1,482 2,381 200 55 Union Trust Co 72, 929 11, 498 95, 579 4,000 6,000 United State Bank 1,809 1,441 3,309 200 200 Woodlawn Trust & Savings Bank 6,033 2,832 9,475 600 200 Cicero—Western State Bank 2,094 954 3,380 350 150 Cowden—State Bank of Cowden 256 7 288 25 10 Des Plaines—Des Plaines State Bank 1,557 300 2,140 200 125 Eureka—Farmers State Bank 328 164 485 50 30 Evanston—_ Evanston Trust & Savings Bank 2,187 891 3,489 260 100 State Bank & Trust Co 8,351 2,297 11, 782 500 500 Fulton—Whiteside County State Bank 495 4 529 50 8 Geneva—State Bank of Geneva 1,070 756 1,870 100 50 Hinsdale—Hinsdale State Bank 695 546 1,242 100 25 Joliet— Commercial Trust & Savings Bank 1,359 412 1,976 100 20 Joliet Trust & Savings Bank 1,385 736 2,330 100 100 Kewanee—-Union State Savings Bank & Trust Co.. 839 271 1,269 150 25 Marshall—Marshall State Bank 68 444 60 15 Martinsville—Martinsville State Bank 47 392 50 10 Matteson—First State Bank 158 11 163 25 25 Mattoon—Central Illinois Trust & Savings Bank... 920 158 1,043 100 100 Mount Carroll- Carroll County State Bank 1,273 169 1,448 100 50 First State Bank 1,022 300 1,449 100 25 Oak Park- Oak Park Trust & Savings Bank 5,603 2,403 8,049 500 250 Suburban Trust & Savings Bank 1,396 1,711 3,105 200 200 Oswego—Oswego State Bank 235 2 158 25 25 Polo—Polo State Bank__ 536 78 499 60 30 Seneca— Farmers Trust & Savings Bank 90 56 131 25 10 State Bank of Seneca 272 52 316 50 25 Shannon— Peoples State Bank 167 75 243 40 11 State Bank of Shannon 224 97 323 50 10 Springfield—Ridgely-Farmers State Bank 4,496 2,447 8,558 600 150 Stockland—Sumner State Bank 115 65 137 50 10 Wenona—First State Bank 447 566 1,013 50 50 Wheaton—Wheaton Trust & Savings Bank 560 304 880 100 40 Wilmette—Wilmette State Bank 2,233 1,061 3,559 100 100 (See also District No. 8) Connersville—Fayette Bank & Trust Co 1,504 533 2,026 400 36 Elkhart—St. Joseph Valley Bank 2,938 1,535 4,776 250 200 Hammond—First Trust & Savings Bank_ 4,778 1,749 7,008 500 350 Indianapolis—Fletcher Savings & Trust Co 7,722 12, 256 22, 379 1,500 1,500 Jamestown—Citizens State Bank 305 23 360 30 20 Kentland—Kent State Bank 342 21 347 50 50 Ladoga—Ladoga State Bank __. 82 121 272 25 5 Marion—Grant Trust & Savings Bank 2,485 315 2,722 241 120 Richmond—Dickinson Trust Co 3,781 799 2,497 300 200 Rochester—United States Bank & Trust Co 525 239 906 75 25 South Bend— American Trust Co 5,170 489 5,422 500 160 St. Joseph Loan & Trust Co 3,287 1,860 4,222 800 200 Terre Haute—Terre Haute Trust Co 6,058 1,959 8,026 500 500 Tipton—Farmers Loan & Trust Co _ 6 707 50 50 IOWA Algona—Iowa State Bank ... 232 270 671 50 Ames—Story County Trust & Savings Bank 512 21 613 50 20 Barnes City—Farmers Savings Bank _ 324 2 319 50 Bennett—Bennett Savings Bank _._ 288 92 394 50 5 Burlington—First Iowa State Trust & Savings Bank 6,043 2,179 8,733 600 450 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
271 STATE BANK MEMBERSHIP [In thousands of dollars] I m nv e e n s ts t- de T p o o t s a i l ts Capital Surplus DISTRICT NO. 7— Continued IOWA—continued Cedar Rapids—Iowa State Savings Bank 2,266 393 2,834 200 50 Chariton—State Savings Bank 657 166 935 50 50 Charter Oak—Farmers State Bank 358 29 368 40 10 Cherokee—Cherokee State Bank 994 516 1,635 75 75 Clinton—Peoples Trust & Savings Bank 3,433 1,494 5,286 300 300 Davenport—American Commercial & Savings Bank 24,443 29,166 1,500 1,000 Des Moines— Bankers Trust Co 5,057 1,984 7,576 1,000 1 200 Central State Bank 4,492 3,015 9,713 250 250 Dexter—Iowa State Bank 153 1 225 25 I 15 Elberon—Farmers State Bank 474 166 671 50 20 Ellsworth- Farmers State Bank 107 17 Wo 25 5 State Bank of Ellsworth 170 2 35 3 Fairbank—Fairbank State Bank 428 112 551 26 24 Fairfield— Iowa Loan & Trust Co 402 61 470 50 13 Iowa State Savings Bank 1,724 114 1,988 200 75 Farragut—Commercial Savings Bank 134 22 173 40 Fort Madison- American State Bank 106 800 100 22 Fort Madison Savings Bank 1,352 632 2,644 100 80 Gilbert—Gilbert Savings Bank 145 6 162 25 10 Gilman—Citizens Savings Bank 306 2 307 50 10 Grand River—Farmers State Bank 229 1 280 25 15 Grant—Farmers Savings Bank 98 8 126 25 5 Greenfield—Greenfield Savings Bank 247 149 469 30 10 Lake View—Lake View State Bank 146 5 161 25 8 Lakota—Farmers & Drovers State Bank 212 1 267 30 10 Lowden—Lowden Savings Bank 205 136 361 25 15 Mechanicsville—Mechanicsville Trust & Savings Bank 355 78 507 50 25 Mediapolis—Commercial State Bank 357 4 263 100 20 Missouri Valley—State Savings Bank 229 37 336 50 10 Mondamin—Mondamin Savings Bank 272 18 309 35 15 Monticello—Monticello State Bank 2,384 480 2,841 200 200 Moorhead—Moorhead State Bank 323 21 333 30 30 Moville—Moville State Bank 334 2 328 35 26 Newton—Jasper County Savings Bank 1,657 692 2,816 100 50 Osage—Home Trust & Savings Bank 468 412 907 50 30 Osceola—Iowa State Bank 186 2 187 50 Ottumwa—Ottumwa Savings Bank 1,097 462 1,671 100 100 Riceville—Riceville State Bank 117 1 128 25 15 Royal—Home State Bank 222 33 281 25 5 Schaller—Schaller Savings Bank 203 85 344 25 10 Shenandoah—Security Trust & Savings Bank 494 352 945 60 15 Sibley—Sibley State Bank 394 70 523 50 15 Sioux Center—Sioux Center State Bank 217 28 266 25 20 Solon—Ulch Bros. State Bank 460 105 668 50 15 Storm Lake—Security Trust & Savings Bank 301 104 463 75 8 Van Wert—Van Wert State Bank 207 2 183 25 15 Winterset—Madison County State Bank 305 1,283 125 125 (See also District No. 9) Adrian- Adrian State Savings Bank 875 1,164 2,069 150 100 Commercial Savings Bank 892 775 1,797 110 30 Lenawee County Savings Bank 1,363 1,103 3,290 150 50 Albion- Albion State Bank .._ 461 366 852 50 12 Commercial & Savings Bank 718 469 1,228 100 55 Alpena—Alpena Trust & Savings Bank 2,166 1,818 3,774 200 200 Ann Arbor- Farmers & Mechanics Bank 3,318 508 3,874 200 200 State Savings Bank 3,506 1,829 5,107 400 300 Armada- Armada State Bank 520 84 566 25 25 Farmers State Bank 45 313 25 13 Bay City- Bay City Bank 2,941 3,094 6,389 400 300 Peoples Commercial & Savings Bank 4,970 4,387 9,281 400 800 Bellevue—Farmers State Bank 94 57 148 25 5 Benton Harbor—Benton Harbor State Bank 1,202 439 1,644 100 75 Big Rapids- Big Rapids Savings Bank 708 330 1,014 50 50 Citizens State Bank 1,016 845 1,963 50 50 Birmingham—First State Savings Bank 2,235 655 2,883 200 150 Blanchard—Blanchard State Bank 131 167 312 25 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
272 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- | Total Surplus ments I deposits DISTRICT NO. 7—Continued MICHIGAN—continued | Blissfield—Blissfield State Bank I 666 234 25 Britton—Peoples State Savings Bank I 228 107 5 Brown City—Brown City Savings Bank 345 71 8 Caledonia—State Bank of Caledonia 405 269 14 Caro—State Savings Bank I 812 227 25 Carson City—Farmers & Merchants State Bank j 201 90 10 Cass City— I Cass City State Bank ! 304 159 467 16 Pinney State Bank I 419 360 800 18 Cassopolis—Cass County State Bank [ 353 131 486 10 Center Line—Center Line State Savings Bank I 820 271 1,178 60 Charlotte—Eaton County Savings Bank 624 474 1,133 20 Chelsea- Farmers & Merchants Bank 612 372 975 50 Kempf C ommercial & Savings B ank 607 212 749 40 Coloma—State Bank of Coloma 363 71 459 20 Coopersville—Peoples Savings Bank 410 191 618 9 Croswell— First State Savings Bank 301 286 585 State Bank of Croswell 489 586 1,170 12 Davison—Davison State Bank.._ 475 85 495 20 Dearborn—Dearborn State Bank 2,876 1,670 4, 765 250 Detroit- American State Bank 28,261 6,842 750 Bank of Detroit i 32,731 11,187 1,000 Detroit Savings Bank _... 32,364 12,627 2,500 Dime Savings Bank._ _ 40,061 18,910 3,000 Griswold-First State Bank. _ 33,826 5,549 2,500 Guardian Detroit Bank 33,304 9,557 3,000 Peninsular State Bank 38,429 7,928 2,000 Peoples Wayne County Bank 201,683 68,547 22, 000 Redford State Savings Bank 1,877 177 58 United Savings Bank. 13,338 4,203 600 Eaton Rapids—Michigan State Bank 370 255 13 Edmore—Edmore State Bank 223 207 10 Elk Rapids—Elk Rapids State Bank 290 77 16 Farmington—Farmington State Savings Bank 908 368 30 Fennville—Old State Bank..._ 264 406 15 Fenton— Commercial State Savings Bank 534 85 689 Fenton State Savings Bank 639 155 914 25 Flint- Citizens Commercial & Savings Bank 7,406 1,943 8,443 500 Genesee County Savings Bank 9,996 3,450 12, 963 500 Industrial Savings Bank 14,917 5,316 18,150 300 Union Trust & Savings Bank_ 6,919 1,874 7,982 400 Flushing—Peoples State Bank 357 56 406 15 Fordson—Fordson State Bank 1,070 619 1,837 40 Frankenmuth— American State Bank. 413 353 835 20 Frankenmuth State Bank 1,311 367 1,756 70 Fremont- Fremont State Bank 367 201 595 40 Old State Bank 911 296 1,267 50 Grand Haven- Grand Haven State Bank 1,437 805 2,128 100 Peoples Savings Bank.. 992 211 1,093 50 Grand Rapids— • Grand Rapids Savings Bank 16,376 2,416 22,482 750 Home State Bank for Savings 5,186 1,526 7,109 125 Kent State Bank 17,345 2,258 22, 271 1,000 Greenville—Commercial State Savings Bank 846 516 1,345 50 Hart—Oceana County Savings Bank 385 238 647 25 Highland Park— American State Bank 3,257 1,166 4,707 90 Highland Park State Bank. 17,317 9,493 26, 561 1,800 Hillsdale—Hillsdale Savings Bank 448 975 1,634 25 Holland- First State Bank... _ 2,891 606 3,772 100 Holland City State Bank 2,541 810 3,644 100 Holly—First State & Savings Bank. 1 1,388 454 1,777 50 Hopkins—Hopkins State Savings Bank I 209 253 469 5 Howell—First State & Savings Bank 326 529 1,054 34 Imlay City— Lapeer County Bank 875 215 1,139 10 Peoples State Bank 554 255 840 10 Ionia—State Savings Bank 1,450 65 1,439 100 Jackson—Central State Bank 1,017 158 1,237 26 Jonesville—Grosvenor Savings Bank 531 193 735 25 Kalamazoo—Kalaamzoo Trust & Savings Bank 5,429 1,211 6,602 200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STA.TE BA.NK MEMBERSHIP 273 [In thousands of dollars] Invest- Total Surplus ments deposits DISTRICT NO. 7—Continued MICHIGAN—continued Lake Odessa—Lake Odessa State Savings Bank 410 126 567 25 25 Lakeview— Commrecial State Savings Bank 230 154 377 25 7 Farmers & Merchants State Bank 243 163 399 40 8 Lansing—American State Savings Bank 7, 503 2,535 10, 409 750 400 Lapeer—Lapeer Savings Bank 814 277 1,040 75 20 Lenox and Richmond—Macomb County Savings Bank ._ 837 270 1,208 50 25 Lowell—City State Bank 527 275 832 25 25 Ludington—-Ludington State Bank 1,027 786 2,078 100 50 Manchester—• Peoples Bank 375 146 518 25 25 Union Savings Bank 238 417 642 25 50 Manistee—Manistee County Savings Bank 1,228 1,966 3,159 100 100 Marcellus—G. W. Jones Exchange Bank 344 312 703 40 40 Marshall—Commercial Savings Bank 740 378 1,161 100 20 Mason— Farmers Bank 437 111 614 50 10 First State & Savings Bank 98 680 25 15 Midland—Chemical State Savings Bank 422 1,479 50 15 Milan—Milan State Savings Bank 441 49 481 25 25 Milford— Farmers State Savings Bank 297 80 432 25 13 First State Bank 898 15 947 25 25 Monroe—Dansard State Bank 1,697 638 2,589 200 40 Montague—Farmers State Bank 335 84 428 25 10 Mount Clemens— Citizens Savings Bank _ _ 3,251 1,269 4,649 150 200 Ullrich Savings Bank 1,610 635 2,237 100 100 Mount Pleasant- Exchange Savings Bank ___ 504 530 1,118 50 33 Isabella County State Bank 878 520 1,603 60 30 Nashville- Farmers & Merchants Bank 469 91 35 35 State Savings Bank 389 88 564 30 20 New Baltimore—Citizens State Savings Bank 381 254 646 25 25 New Haven—New Haven Savings Bank 331 195 551 25 25 Niles—Niles City Bank 912 704 1,697 100 50 Northville—Lapham State Savings Bank 1,095 190 1,283 50 55 Onsted—Onsted State Bank 290 40 322 25 10 Petoskey—First State Bank 763 355 1,213 60 35 Pigeon—Pigeon State Bank _ __. 443 150 629 25 Pinconning—Pinconning State Bank 300 125 457 30 Pontiac—Pontiac Commercial & Savings Bank 15,185 1,715 19, 912 800 400 Port Huron—Federal Commercial & Savings Bank.. 5,524 1,534 7,599 400 210 Rochester—Rochester Savings Bank 686 151 922 50 25 Rogers City—Presque Isle County Savings Bank 224 1,200 1,538 35 15 Romeo—Romeo Savings Bank 1,254 422 1,652 100 100 Royal Oak- First State Bank. 3,809 5,061 250 225 Royal Oak Savings Bank 2,998 814 4,005 250 250 Saginaw— American State Bank _ 3,294 1,565 4,913 300 200 Bank of Saginaw 11, 267 5,786 17, 981 1,250 1,000 St. Charles—St. Charles State Bank 355 588 976 25 18 St. Clair—Commercial & Savings Bank _ 858 677 1,609 75 25 Saugatuck—Fruit Growers State Bank 783 241 921 100 50 Sebewaing—Farmers & Merchants State Bank 592 501 1,229 50 16 South Haven—Citizens State Bank 1,137 573 1,492 100 175 Sparta—Sparta State Bank _ 362 307 741 30 15 Spring Lake—Spring Lake State Bank... __. 385 141 521 25 50 Tecumseh— Lilley State Bank 547 248 862 40 20 Tecumseh State Savings Bank 637 318 997 50 30 Traverse City—Traverse City State Bank 2,454 1,726 4,238 200 200 Utica—Utica State Savings Bank 562 230 25 25 Vicksburg— Farmers State Bank 248 209 481 25 5 First State Bank 257 80 389 30 4 Warren—State Savings Bank 879 163 1,114 50 50 Washington—Washington Savings Bank _. 220 51 257 25 15 Wayne—Wayne Savings Bank.. 1,412 363 1,937 50 100 Williamston— Crossman & Williams State Bank 177 471 40 20 Williamston State Bank 367 380 720 50 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
274 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 7—Continued WISCONSIN (See also District No. 9) Baraboo—Bank of Baraboo 992 1.224 2,533 100 50 Burlington—Bank of Burlington 1,105 '284 1,382 125 25 Clinton—Citizens Bank 305 57 384 50 10 Kewaunee—State Bank of Kewaunee __ 807 457 1,254 80 40 Madison—Bank of Wisconsin 4,855 5,277 500 180 Milwaukee- Badger State Bank 6,663 1,625 8,446 400 100 Marshall & Ilsley Bank 23,194 5,558 28,661 1,500 1,500 Mineral Point—Iowa County Bank 936 124 1,175 100 50 Platteville—State Bank of Platteville 677 547 1,284 50 50 Plymouth- Plymouth Exchange Bank 910 90 1,015 100 50 State Bank of Plymouth..__. 776 308 1,135 125 33 Seneca—Farmers & Merchants State Bank. 423 63 517 35 18 Sheboygan—Citizens State Bank 4,073 634 5,170 200 400 Sturgeon Bay—Bank of Sturgeon Bay 1,934 1,136 3,413 100 50 Waupun—State Bank of Waupun 364 558 967 50 50 DISTRICT NO. 8 Batesville—Citizens Bank & Trust Co.. 344 502 1,057 50 20 Blytheville—Farmers Bank & Trust Co 676 9 1,176 200 30 Brinkley—Monroe County Bank 276 61 421 35 19 Conway—Farmers State Bank — 920 47 1,138 60 20 England—Citizens Bank &Trust Co 317 24 488 100 40 Forrest City—Bank of Eastern Arkansas 538 288 1,044 50 50 Hot Springs—Community Bank & Trust Co 577 21 671 75 25 Jonesboro—Bank of Jonesboro 1,440 257 1,846 200 100 Little Rock- American Southern Trust Co 10,382 2,631 17,046 1,000 220 Bankers Trust Co 7,597 926 11,641 500 110 Federal Bank & Trust Co 1,727 106 2,881 200 23 Union Trust Co 5,935 1,966 9,618 500 250 W. B. Worthen Co., Bankers 2,806 696 4,228 200 300 Marvell—Bank of Marvell 213 50 432 50 10 North Little Rock—Twin City Bank. 770 207 1,434 100 38 Paris—American Bank & Trust Co 430 9 414 50 25 Pine Bluff—Peoples Savings Bank & Trust Co 461 120 623 100 25 Russellville— Bank of Russellvile 481 182 75 38 Peoples Exchange Bank 610 28 833 100 80 Siloam Springs—Producers State Bank 133 4 131 25 5 Waldron—Bank of Waldron 285 26 304 60 20 Walnut Ridge—Lawrence County Bank 566 5 544 125 31 ILLINOIS (See also District No. 7) Belleville—Belleville Savings Bank 2,611 1,359 3,879 300 300 East St. Louis—Union Trust Co 2,159 2,644 4,779 600 200 Edwardsville—Citizens State & Trust Bank 643 453 1,107 100 70 Effingham—Effingham State Bank 716 250 1,032 110 25 Granite City—Granite City Trust & Savings Bank 972 327 1,328 150 88 Greenville—State Bank of Hoiles & Sons 1,229 217 1,528 120 40 Harrisburg—First Trust & Savings Bank 1,010 854 1,906 150 75 Hillsboro—Montgomery County Loan & Trust Co. 457 128 583 100 50 Litchfield—Litchfield Bank & Trust Co 482 224 791 100 33 Madison—Union Trust Co 295 153 408 50 20 Mount Olive—Mount Olive State Bank 194 185 367 50 10 New Athens—Farmers State Bank 115 117 241 25 O'Fallon—First State Bank 183 41 240 25 Palmyra—First State Bank 184 2 211 25 15 Quincy—State Savings Loan & Trust Co 6,486 1,360 7,799 1,000 200 (See also District No. 7) Evansville—Mercantile-Commercial Bank. 1,450 392 2,054 200 50 Paoli—Paoli State Bank 409 4 407 40 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STATE BANK MEMBERSHIP 275 [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 DISTRICT NO. 8—Continued KENTUCKY (See also District No. 4) Louisville- Kentucky Title Trust Co 13, 737 4,142 4,673 1,000 500 Liberty Bank & Trust Co 25, 514 3,887 22, 478 1,000 2,000 Lincoln Bank & Trust Co_._ 10, 757 970 8,923 750 400 Louisville Trust Co 6,392 2,716 6,559 1,000 600 Owensboro—Central Trust Co 3,063 96 3,391 200 110 MISSISSIPPI Greenwood—Greenwood Bank & Trust Co., 1,382 22 1,739 200 50 Pontotoc—Bank of Pontotoc 399 343 717 100 15 Rosedale—Bolivar County Bank 153 104 309 25 15 MISSOURI (See also District No. 10) Bowling Green—Pike County Bank _. 145 41 238 25 10 Festus—Citizens Bank 386 130 496 35 25 Iberia—Farmers & Traders Bank 187 4 176 25 5 La Plata—Bank of La Plata 223 80 330 50 5 Linn Creek—Camden County Bank 151 73 246 25 25 Luxemburg—Lemay Ferry Bank 949 608 1,587 50 40 Macon—State Exchange Bank 887 416 1,278 100 40 Maple wood- Bank of Maplewood & Trust Co__ 871 826 1,772 100 25 Peoples State Bank 207 91 370 60 10 Marshall—Wood and Huston Bank___ 1,520 17 1,505 100 200 Pine Lawn—Pine Lawn Bank 214 136 341 30 15 Richmond Heights—Park Savings Trust Co. 486 319 681 50 10 St. Louis- Baden Bank 1,675 1,358 3,004 200 150 Bremen Bank 2,491 4,442 6,905 200 500 Broadway Trust Co_ 717 249 1,068 200 20 Cass Avenue Bank 2,756 3,058 5,529 300 400 Chippewa Trust Co 1,376 459 1,773 200 50 Easton-Taylor Trust Co _.. 1,391 622 2,089 200 75 Fidelity Bank & Trust Co _. 1,535 1,519 2,391 200 50 Franklin-American Trust Co 22,419 3,585 27, 347 2,000 1,000 Grant State Bank 719 1,158 1,830 200 100 Guaranty Bank & Trust Co _. 837 491 1,653 200 60 Jefferson Bank 2,171 2,367 4,446 200 200 Jefferson-Gravois Bank_ ___ 3,319 1,569 4,739 200 200 Laclede Trust Co 1,622 1,205 2,429 300 100 Lafayette-South Side Bank & Trust Co_ 17,173 10, 245 26,181 2,150 1,000 Liberty Central Trust Co 21, 342 18, 835 40, 888 3,000 500 Lindell Trust Co 1,297 721 1,996 200 40 Lowell Bank _ 1,647 2,802 4,264 200 100 Manchester Bank.. __ 3,782 1,879 5,521 500 200 Mercantile Trust Co _. 35, 629 24, 781 62, 324 3,000 7,000 Mississippi Valley Trust Co 31, 760 11,189 41, 874 3,000 3,500 Mound City Trust Co 1,527 639 2,338 200 50 Natural Bridge Bank 1,484 840 2,175 200 100 North St. Louis Trust Co 1,689 1,064 2,785 200 110 Northwestern Trust Co 4,869 4,896 8,933 500 1,000 Sarah-Olive Bank 197 178 338 120 24 Savings Trust Co 2,382 973 3,544 200 50 Scruggs Vandervoort & Barney Bank 1,937 1,615 4,274 200 40 Shaw Bank 484 697 1,273 120 40 Southern Commercial & Savings Bank_. 2,529 1,088 3,610 200 100 Southwest Bank. 1,072 1,008 2,344 200 50 Tower Grove Bank 8,208 2,196 9,505 500 300 United States Bank 5,963 2,646 8,042 1,000 500 Water Tower Bank 1,092 631 1,721 200 100 West St. Louis Trust Co 1,687 1,502 3,123 200 100 St. Louis County— Gravois Bank... 452 501 975 50 50 North Side Bank 26 154 168 25 5 Sedalia—Sedalia Trust Co. 203 327 528 100 25 Versailles—Bank of Versailles 194 3 288 40 15 Washington—Franklin County Bank 379 121 480 50 25 Webster Groves—Webster Groves Trust Co_ 513 986 1,565 100 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
276 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 Surplus DISTRICT NO. 8—Continued TENNESSEE (See also District No. 6) Brownsville—First State Bank.. 960 152 1,158 20Cf 25 Greenfield—Greenfield Bank 180 27 225 30 29 Halls—Peoples Savings Bank & Trust Co_. 159 29 234 25 10 Henning—Bank of Henning 254 8 245 100 Memphis- Bank of Commerce & Trust Co 24, 003 3,505 33, 767 3,000 1.500 Union and Planters Bank & Trust Co.. 17, 447 4,695 27, 297 2,500 200 DISTRICT NO. 9 (See also District No. 7) Ewen—State Bank of Ewen 268 101 415 25 25 Gladstone—Gladstone State Savings Bank 970 381 1,379 50 25 Gwinn—Gwinn State Savings Bank 163 196 369 25 25 Iron Mountain—Commercial Bank 1,787 691 2,813 100 100 Menominee—Commercial Bank 838 420 1,336 100 30 Sault Ste. Marie- Central Savings Bank 715 553 1,466 100 40 Sault Savings Bank 783 999 1,882 100 60 South Range—South Range State Bank 103 639 821 30 30 MINNESOTA Anoka—State Bank of Anoka 351 101 534 50 5 Benson—Swift County Bank (Inc.). 813 157 959 100 20 Clinton—Clinton State Bank 259 61 358 25 6 Excelsior—Minnetonka State Bank 309 250 585 25 20 Hutchinson—Farmers & Merchants State Bank__ 294 37 339 50 10 Ihlen—Ihlen State Bank 163 5 180 25 4 Madelia—State Bank of Madelia 645 29 625 50 10 Plainview—Peoples State B ank 151 228 412 20 4 Red Wing—Security Bank & Trust Co 930 299 1,172 200 50 Revere—State Bank of Revere 159 24 153 30 25 South St. Paul—Drovers State Bank 975 343 1,434 100 10 Spring Valley—First State Bank of Spring Valley. 433 13 456 30 25 Westbrook—Citizens State Bank 167 41 257 25 10 MONTANA Anaconda—Daly Bank & Trust Co 3,022 1,574 5,458 100 100 Belgrade—Belgrade State Bank.. 344 82 455 50 13 Billings—Security Trust & Savings Bank 1,550 1,022 3,223 100 100 Bozeman— Gallatin Trust & Savings Bank 591 263 1,099 100 30 Security Bank & Trust Co 409 129 549 100 20 Broadus—Powder River County Bank 191 112 389 25 Butte— Metals Bank & Trust Co 12,919 7,964 23, 858 600 400 Miners Savings Bank & Trust Co 776 492 1,586 200 50 East Helena—East Helena State Bank 154 64 220 50 14 Ennis—Southern Montana Bank 223 2 276 25 25 Fromberg—Clarks Fork Valley Bank 89 10 141 25 5 Hamilton—Ravalli County Bank 283 224 570 50 15 Helena- Montana Trust & Savings Bank 960 1,321 2,901 150 100 Union Bank & Trust Co.. 2,315 674 3,599 250 150 Opheim—First State Bank 106 8 121 25 Park City—Park City State Bank 101 196 350 25 Reed Point—Reed Point State Bank 54 63 112 25 2 Richey—First State Bank 275 43 345 25 13 Townsend—State Bank of Townsend 426 308 717 100 17 White Sulphur Springs—Central State Bank 107 44 170 30 Wolf Point—First State Bank.__ 369 252 743 30 ~~20 Worden—Farmers State Bank 87 39 179 25 4 NORTH DAKOTA Fullerton—Farmers State Bank 56 SOUTH DAKOTA Belle Fourche—Butte County Bank 778 350 1,373 75 25 Buffalo—First State Bank 213 64 290 25 *5 Camp Crook—Little Missouri Bank 292 12 421 25 10 Gregory—Commercial State Bank 225 106 419 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STATE BANK MEMBERSHIP 277 [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. 9—Continued SOUTH DAKOTA—continued Groton—Brown County Banking Co 259 92 448 25 10 Mitchell—Commercial Trust & Savings Bank 1,030 961 2,514 100 30 Newell—Reclamation State Bank 396 18 526 25 15 Philip—Bank of Philip. 406 157 615 40 10 Stratford—First State Bank 106 8 100 30 WISCONSIN (See also District No. 7) Boyceville—Bank of Boyceville 231 190 444 30 6 Glenwood City—First State Bank 268 70 371 42 7 Hurley—Iron Exchange Bank __ _ _ . __ 531 578 1,110 75 38 DISTRICT NO. 10 COLORADO Denver- Central Savings Bank & Trust Co 2,796 559 4,013 500 50 International Trust Co.. _ _ 8,294 4,184 13, 784 500 500 La Junta—Colorado Savings & Trust Co 339 95 468 75 38 KANSAS Hiawatha—Morrill & Janes Bank 473 64 608 100 10 Jamestown—Jamestown State Bank _ . 247 30 316 25 25 Liberal—Citizens State Bank 366 102 550 50 25 Sedan—Sedan State Bank _ _ 317 100 441 30 50 Topeka—Fidelity Savings State Bank 533 701 1,563 200 50 Winfield—State Bank., 744 583 1,872 125 63 MISSOURI (See also District No. 8) Kansas City—Commerce Trust Co __ 37, 497 33, 289 95, 603 6,000 2,000 King City—First Trust Co 207 38 253 50 3 St. Joseph- Empire Trust Co . 1,234 803 2,278 200 80 St Joseph Stock Yards Bank 2,522 472 3,590 350 150 NEBRASKA Aurora—Fidelity State Bank 594 158 848 50 15 Oakland Oakland State Bank 337 90 362 25 10 Western—Saline County Bank 231 51 286 30 30 NEW MEXICO (See also District No. 11) Aztec—Citizens Bank- 190 53 267 30 15 OKLAHOMA (See also District No. 11) Okarche—First Bank of Okarche 341 107 541 50 15 WYOMING Evanston—Stockgrowers Bank 414 83 503 50 41 Mountain View—Uinta County State Bank 90 7 83 40 4 Rock Springs—First Security Bank 929 439 2,084 100 100 DISTRICT NO. 11 ARIZONA (See also District No. 12) Tombstone—Cochise County State Bank 218 76 504 30 5 LOUISIANA (See also District No. 6) Shreveport—Continental Bank & Trust Co 2,893 780 4,541 300 200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
278 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Surplus ments deposits DISTRICT NO. 11—Continued NEW MEXICO (See also District No. 10) Deming—Mimbres Valley Bank.. 287 409 840 50 OKLAHOMA (See also District No. 10) Valliant—Farmers State Guaranty Bank 129 80 224 25 TEXAS Abernathy—First State Bank 223 9 254 25 11 Anson—Anson State Bank __. 227 45 469 50 18 Ballinger—Ballinger State Bank _ 215 40 407 40 20 Bedias—First State Bank _ 45 42 120 25 5 Beeville—Beeville Bank & Trust Co 298 31 411 50 33 Bishop—First State Bank _.. 100 2 130 25 25 Bomarton—First State Bank. 102 17 133 32 3 Brady—Farmers & Merchants State Bank 249 2 286 50 6 Bremond—First State Bank 303 140 531 50 21 Brownfield—Brownfield State Bank 324 3 557 25 25 Brownsville—Texas Bank & Trust Co 692 3 865 100 25 Bryan—First State Bank & Trust Co 1,082 160 1,438 100 50 Canyon—First State Bank 278 30 367 40 18 Celina—First State Bank 183 2 233 25 Clarendon—Farmers State Bank 280 2 358 50 Clifton—Farmers State Bank 309 79 393 30 30 Coahoma— First State Bank 133 1 221 25 3 Copperas Cove—First State Bank. 140 2 161 25 2 Corsicana—First State Bank _ _ 968 217 1,408 200 52 Cross Plains—First State Bank 209 53 436 30 15 Del Rio—Del Rio Bank & Trust Co 467 11 350 100 31 Edgewood—Farmers & Merchants State Bank 60 33 108 35 Ferris—Farmers & Merchants State Bank 259 3 325 50 ~45 Forney—Forney State Bank 192 2 153 25 50 Franklin—First State Bank 180 60 350 30 15 Frost—Citizens State Bank 177 87 248 25 50 Gatesville—Guaranty Bank & Trust Co 404 187 668 50 26 Georgetown—Farmers State Bank 370 67 517 50 30 Greenville—Citizens State Bank____ 450 403 924 100 11 Hallsville—Farmers State Bank. _ 105 1 139 25 1 Hamilton—Hamilton Bank & Trust Co 230 55 335 50 30 Hedley—Security State Bank 201 1 278 25 11 Hillsboro—First State Bank 520 16 819 150 Idalou—First State Bank 134 8 205 25 Iola—Iola State Bank 127 1 116 25 13 Jacksonville—First State Bank. 811 188 1,194 63 58 Junction—Junction State Bank 609 23 719 100 100 Kerens—First State Bank 111 107 252 50 11 Killeen—First State Bank 188 2 410 35 14 Kirkland—First State Bank 108 1 166 35 6 Kosse—First State Bank _ 119 26 208 25 I 5 Leakey—First State Bank _ 62 7 124 25 1 Loraine—First State Bank 301 32 420 30 12 Lorenzo—First State Bank... 357 32 428 25 25 Luling—Lipscomb Bank & Trust Co... 754 130 1,038 75 80 Madisonville—Farmers State Bank 297 80 435 25 15 Matador—First State Bank 563 2 746 38 I 25 Mathis—First State Bank 109 12 132 30 I 20 Maypearl—Citizens State Bank 180 2 197 25 I 3 McGregor—First State Bank... 276 3 338 50 10 M M e cK m i p n h n i e s y — — C C iti e z n e t n r s a l S S ta ta te te B B a a n n k k _ 4 6 4 0 3 0 5 3 6 8 6 3 2 0 8 7 7 5 5 2 7 9 Mertens—First State Bank... 91 1 124 25 11 Mount Pleasant—Guaranty Bond State Bank. 293 33 496 60 4 Munday—First State Bank _. 167 1 281 35 Murchison—First State Bank... 84 1 101 25 Nacogdoches—Commercial State Bank 818 215 1,316 100 50 Palmer—First State Bank 87 57 170 25 18 Pampa—Gray County State Bank 822 69 1,092 50 10 Paris—Lamar State Bank & Trust Co 512 246 1,041 150 Rails—Security State Bank & Trust Co 305 2 403 60 16 Richardson—Citizens State Bank 148 1 143 35 I Roaring Springs—First State Bank 189 7 263 25 Roby—First State Bank.... 174 15 218 40 Rochester—First State Bank 209 1 295 25 Rock wall—Security State Bank _ 147 24 193 50 5 Royse—First State Bank _ ._ 148 29 228 50 I 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STA.TE BANK MEMBERSHIP 279 [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 Capital Surplus DISTRICT NO. 11—Continued TEXAS—continued Rusk—Farmers & Merchants State Bank & Trust Co. 119 85 415 50 San Antonio- Guaranty State Bank 4,492 244 5,682 300 300 Texas State Bank & Trust Co 1,562 202 2,351 300 40 Savoy—First State Bank 102 1 119 25 1 Seymour—First State Bank... 190 20 240 35 6 Sherman—Central State Bank 218 391 100 10 Shiro—Farmers State Bank 139 150 25 15 Sinton—Commercial State Bank 472 578 50 50 Slaton— First State Bank _ 214 321 1 Slaton State Bank 330 474 25 3 Snyder—First State Bank & Trust Co 472 701 50 17 Spearman—Fidelity Bank of Commerce 93 160 25 5 Stamford—First State Bank... __ 270 545 100 5 Sweetwater—Texas Bank & Trust Co.. 567 1,000 100 100 Taft—First State Bank 134 121 50 13 Tahoka—Security State Bank. 66 144 25 Wellington—Wellington State Bank 330 483 50 Wharton— Security Bank & Trust Co _ 528 246 978 50 38 Wharton Bank & Trust Co . __. 893 663 1,772 100 100 Wolfe City—First State Bank 74 5 77 25 Wortham—First State Bank _ 193 52 306 50 JO DISTRICT NO. 12 ARIZONA (See also District No. 11) Buckeye—Buckeye Valley Bank 112 75 224 25 8 Phoenix—Valley Bank _ 8,743 6,357 18, 838 1,050 250 CALIFORNIA Chico—Peoples Savings & Commercial Bank 457 695 1,195 100 22 Downey—Los Nietos Valley Bank 792 427 1,257 50 76 Holtville—Holtville Bank 229 62 318 75 3 Kingsburg—Kingsburg Bank 557 158 904 110 60 Long Beach—Farmers & Merchants Bank 6,955 2,369 12,180 1,000 200 Los Angeles— Security Trust & Savings Bank 165, 844 71, 901 264, 065 12,000 3,000 Union Bank & Trust Co _ 16, 503 5,334 22, 888 3,000 800 Norwalk—Bank of Norwalk 455 362 1,001 50 40 Pasadena—Citizens Savings Bank 2,075 1,485 3,848 300 75 Quincy—Plumas County Bank 750 645 1,487 110 40 Salinas—Monterey County Bank 2,870 2,017 5,684 303 138 San Francisco- American Trust Co 170, 612 67, 903 261, 023 10, 000 10, 000 Anglo-California Trust Co _ 48, 328 15,441 71, 979 1,500 1,750 Bank of Montreal 4,875 32 4,092 1,000 110 Wells Fargo Bank & Union Trust Co 87, 069 40, 354 129, 611 9,000 5,000 San Jose—Growers Bank 1,207 426 1,802 300 35 IDAHO Arco—Butte County Bank 113 152 321 35 Eagle—Bank of Eagle 119 41 160 25 5 Grangeville—Bank of Camas Prairie. 426 168 657 50 25 Hazelton—Hazelton State Bank 94 75 217 25 5 Idaho Falls—Anderson Bros. Bank 1,865 1,168 3,353 150 75 Kimberly—Bank of Kimberly 154 72 262 25 Mackay—W. G. Jenkins & Co., bankers 161 77 250 25 Malad City—J. N. Ireland & Co., bankers 297 224 511 40 Oakley—Farmers Commercial & Savings Bank 100 18 134 25 Orofmo—Bank of Oroflno.. 143 183 443 25 10 Pocatello— Citizens Bank & Trust Co 450 603 1,214 200 60 First Security Bank... _ 1,391 1,361 3,376 100 50 Richfield—First State Bank 81 84 173 25 5 Soda Springs—Largilliere Co., Bankers 564 190 901 25 13 Sugar City—Fremont County Bank. 171 53 244 25 5 Twin Falls—Twin Falls Bank & Trust Co 1,153 618 2,302 100 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
280 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Total deposits Surplus DISTRICT NO. 12—Continued OREGON Albany—Albany State Bank 507 1,170 50 25 Aurora—Aurora State Bank 160 75 255 25 5 Beaverton—Bank of Beaverton _ 408 195 619 25 25 Central Point—Central Point State Bank 142 155 356 25 5 Dallas—Dallas City Bank 339 101 501 50 19 Enterprise—Enterprise State Bank 220 ! 71 337 50 10 Fossill—Steiwer & Carpenter Bank 387 106 447 100 8 Grants Pass—Grants Pass & Josephine Bank 560 439 1,021 75 35 Gresham—First State Bank.. _ 136 619 793 30 25 Haines—Bank of Haines 182 39 244 25 2 Helix—Bank of Helix 204 22 132 25 31 Hood River—Butler Banking Co 840 85 1,171 125 50 Marshfield—Bank of Southwestern Oregon... 382 370 825 100 20 Medford—Jackson County Bank 1,090 418 1,802 100 20 Moro—Farmers State Bank.. 147 7 132 45 7 Multnomah—Multnomah Commercial & Savings Bank 169 30 207 25 5 Myrtle Point—Bank of Myrtle Point 153 77 243 25 8 North Portland—Live Stock State Bank 369 135 647 50 5 Oakland—E. G. Young & Co. Bank 375 368 824 50 15 Oregon City- Bank of Commerce 697 700 1,467 200 40 Bank of Oregon City 700 937 1,953 150 30 Pendleton—Inland Empire Bank 1,446 307 1,409 250 45 Portland- American Exchange Bank 1,756 1,072 3,541 200 50 Citizens Bank 2,553 1,194 4,594 200 100 Hibernia Commercial & Savings Bank 4,375 2,302 7,699 500 100 Reedsport—First Bank of Reedsport _ 74 176 25 5 Shaniko—Eastern Oregon Banking Co 243 349 25 10 Wasco—Bank of Wasco 167 3 185 25 5 Woodburn—Bank of Woodburn 306 357 708 50 10 UTAH Bingham Canyon— Bingham State Bank 297 303 646 26 26 Cedar City—Bank of Southern Utah 943 17 893 100 75 Ephraim—Bank of Ephraim 526 469 50 50 Fountain Green—Bank of Fountain Green - 321 354 25 32 Gunnison—Gunnison Valley Bank 186 244 25 13 Helper—Helper State Bank 637 187 901 50 50 Kaysville—Barnes Banking Co 516 14 429 50 100 Logan City—Cache Valley Banking Co 1,178 497 1,879 100 50 Logan—Thatcher Bros. Banking Co 1,406 290 1,926 100 100 Parowan—Bank of Iron County 309 4 284 35 21 Payson—State Bank of Payson 347 402 50 Price- Carbon County Bank 460 49 512 100 10 Price Commercial & Savings Bank 647 173 50 70 Provo— Farmers & Merchants Bank 828 202 1,161 100 33 Knight Trust & Savings Bank 1,304 314 1,494 300 70 Richfield—James M. Peterson Bank 782 34 834 50 50 Salina—First State Bank 4 25 100 Salt Lake City- Columbia Trust Co 61 1,229 200 32 Tracy Loan & Trust Co 946 177 1,048 250 200 Utah Savings & Trust Co 1,605 500 2,025 300 150 Walker Bros., Bankers. 15, 638 4,336 23, 814 1,500 525 Spanish Fork—Commercial Bank. 413 2 354 50 25 Vernal—-PB.ank of Vernal. 366 10 409 60 18 WASHINGTON Almira— Almira State Bank 232 239 50 13 Farmers State Bank 108 131 25 7 Buena— Buena State Bank 77 72 25 2 Chehalis—Coffman-Dohson Bank & Trust Co . 1,090 2,249 150 100 Colfax—First Savings & Trust Bank of Whitman County 448 525 75 Coulee—Security State Bank 58 27 125 25 Davenport—Lincoln County State Bank 411 119 536 50 20 Ellensburg—Farmers Bank 602 623 1,226 100 50 Everett—Bank of Commerce 771 1,178 2,112 150 30 Farmington—Bank of Farmington 232 27 287 25 10 Hoquiam—Bank of Hoquiam 1,043 625 2,307 100 50 Kelso—Cowlitz Valley Bank 222 582 30 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
STATE BANK MEMBERSHIP 281 [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 12—Continued WASHING TON—con tinued La Crosse— First State Bank -.. 478 74 447 60 20 Security State Bank 128 12 99 30 4 Odessa—Farmers & Merchants Bank 502 90 602 25 15 Okanogan—Commercial Bank 224 119 369 50 10 Pine City—Pine City State Bank 100 3 102 25 4 Pomeroy—Pomeroy State Bank _ 677 398 979 50 150 Pullman—Pullman State Bank. 630 174 836 50 10 Puyallup— Citizens State Bank._ __- 391 231 50 15 Puyallup State Bank 329 330 712 50 10 Reardan—Farmers State Bank 374 105 448 50 20 Ritzville—Ritzville State Bank 223 214 474 25 14 Rockford—Farmers & Merchants Bank 164 41 178 25 3 Rosalia—Bank of Rosalia 264 47 290 25 13 St. John—Farmers State Bank___ 403 76 435 40 12 Seattle—Peoples Bank & Trust Co 5,400 3,810 11, 044 500 100 Selah—Selah State Bank 207 137 422 30 6 South Bend—Pacific State Bank 295 552 902 100 11 Spokane- Spokane & Eastern Trust Co.__ __ 8,294 1,869 12,110 1,000 250 Washington Trust Co 1,695 375 2,103 200 100 Stanwood—Bank of Stanwood 314 288 663 25 25 Tekoa— Citizens State Bank 188 74 255 25 7 Tekoa State Bank 264 160 449 30 16 Toppenish— Central Bank of Toppenish 149 107 50 10 Traders Bank 222 129 435 25 15 Uniontown—Farmers State Bank 205 15 185 25 6 Walla Walla- Peoples State Bank 1,045 665 1,842 100 50 Union Bank & Trust Co 1,183 596 2,015 200 28 Wenatchee— Columbia Valley Bank 1,363 328 2,087 100 25 Commercial Bank & Trust Co 1,190 300 1,706 100 40 Wilbur—State Bank of Wilbur 385 122 522 50 10 Yakima—Yakima Valley Bank & Trust Co. 1,658 584 2,410 275 55 41223—2S Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
282 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD STATE BANK MEMBERS—SUMMARY CLASSIFICATION ACCORDING TO CAPITAL. STOCK [Amounts in thousands of dollars] Banks having a capital stock of— Total $25,000 1 $25,001 to $50,000 $50,001 to $100,000 State 1 1 ,0 3 1 1 3'i 3 a 3 "§• 9 0 O03 & 0 0 New England: Maine - 2 200 5,384 New Hampshire. 1 75 1,365 1 75 1,365 Massachusetts.. . 24 36,500 550,464 Rhode Island 4 8,200 271,802 Connecticut 4 3,800 43,183 Middle Atlantic: New York 108 32, 537 6,341,606 1 30 320 13 660 12,142 New Jersey 64 40,232 635,689 1 75 1,078 Pennsylvania 101 63,316 880,285 2 50 448 2 70 637 8 435 4,400 East North Central: Ohio 76 80,240 1,303, 956 11 275 4,902 1 30 128 14 710 10,254 Indiana __ 16 5,460 64,131 1 25 272 2 70 767 3 175 1,96ft Illinois 75 67,440 1,189,729 8 200 1,653 1 40 243 13 670 6,221 Michigan 155 53,460 996,580 3? 800 17,106 675 2,250 40 2,175 42,384 Wisconsin 18 3,662 64,536 3 107 1,331 5 305 4,997 Ml West North Central: Minnesota 13 730 7,464 5 120 1,792 9 60 608 3 150 1,499 Iowa 52 6,386 93, 722 12 300 2,590 9 301 2,970 17 910 10,550 Missouri _ 56 28,305 416,998 4 100 828 4 155 1,378 6 310 4,423 North Dakota. _. 1 25 59 1 25 59 South Dakota... 9 395 6,708 4 100 1,686 2 70 715 2 125 1,793 Nebraska 3 105 1,495 1 25 362 1 30 285 1 50 848 Kansas . . .. 6 530 5,350 1 25 316 1 30 441 1 50 550 South Atlantic: Delaware 4 4,600 41,651 Maryland 5 5,625 82,892 1 25 284 Virginia 12 8,580 67,444 2 65 407 2 115 1,161 West Virginia-_ 17 3,390 34,310 1 25 200 1 40 321 6 325 2,360 North Carolina- 8 5,375 75, 528 South Carolina . 9 853 9,596 1 25 235 3 203 2,018 Georgia 47 8,030 45,396 14 350 1,522 4 120 457 10 580 3,518 Florida 6 1,315 19,493 1 30 283 3 185 1,723- East South Central: Kentucky 7 4,600 50,427 Tennessee 7 6,855 69,354 1 25 234 1 30 226 Alabama 14 2,320 28, 734 2 50 748 1 35 80 6 335 2,521 Mississippi 3 325 2,764 1 25 309 West South Central: Arkansas 22 3,855 58, 655 1 25 131 1 35 421 8 470 5,74& Louisiana 9 11, 580 200,421 9, 130 1,848 Oklahoma . 2 75 765 1 25 224 1 50 541 Texas 88 4,872 46,353 29 725 6,284 17 590 5,272 27 1,457 14,175 Mountain: Montana 22 2,110 47,060 8 200 1,914 60 913 3 150 1,245 Idaho 16 900 14,516 9 225 2,784 2 75 832 1 50 657 Wyoming 3 190 2,670 1 40 83 1 50 503 Colorado 3 1,075 18, 266 1 75 469 New Mexico 2 80 1,107 1 30 267 1 50 840 Arizona - 3 1,105 19, 565 1 25 224 1 30 504 Utah 23 3,596 43,064 3 75 1,492 2 61 930 8 410 4,66a i Pacific- Washington 43 4,195 56,496 13 325 3,799 5 160 1,987 12 635 6,597 Oregon 29 2,625 33,805 10 250 2,766 2 75 925 375 5,206 California 16 38,898 783,336 c 175 2,577 Total 1,208 858,622 14,734,174 178 4,445 55,164 92 3,144 35,981 233 12,695 162,832 1 Includes 1 bank in Minnesota with a capital of $20,000 and deposits of $412,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
283 STATE BANK MEMBEKSHIP STATE BANK MEMBERS—SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK—Continued [Amounts in thousands of dollars] Banks having a capital stock of— $100,000 to $200,000 $200,000 to $500,000 $500,000 to $1,000,000 $1,000,000 and over * State 1 o 1 1 1 *n 11 1 31 ll B a ft Xi tn s a 'ft O o 1 g O H o New England: & Maine 2 200 5,384 Massachusetts. _ 1 100 2,303 10 2,450 60,453 3 2,250 49,433 10 31, 700 438,275 Rhode Island- 1 200 3,129 3 8,000 268, 673 Connecticut 1 200 1,788 3 3,600 41,395 Middle Atlantic- New York 23 2,475 50,186 18 4,750 81,109 10 6,000 132,096 43 318, 622 6, 065, 753 New Jersey 18 2,000 28,404 23 6,107 106,609 9 5,750 83,066 13 26,300 416, 532 Pennsylvania... 21 2,690 27, 872 33 9,324 116, 359 17 9,397 80,624 18 41, 350 649,945, East North Central: Ohio 17 2,025 27, 881 7 1,800 30, 614 7 3,950 75,591 19 71, 450 1,154, 586 Indiana 5 1,390 14, 075 4 2,300 24, 678 1 1,500 22, 379 Illinois 17 1,880 25, 343 13 3,600 54, 792 9 5,350 78, 606 14 55, 700 1,022, 871 Michigan 29 3,060 61, 575 16 4,600 81, 347 5 3,400 67,847 14 38,750 714,071 Wisconsin 6 650 10,654 2 600 13, 616 1 500 5,277 1 1,500 28, 661 West North Central: Minnesota 2 200 2,393 1 200 1,172 Iowa 6 625 9,476 5 1,150 22, 662 1 600 8,733 2 2,500 36, 741 Missouri 7 740 8, 259 25 5,350 75, 895 3 1,500 23,958 7 20,150 302,257 South Dakota... 1 100 2,514 Kansas 2 225 2,480 1 200 1,563 South Atlantic: Delaware. _ 1 100 1,564 3 4,500 40,087 Maryland 1 100 1,224 3 5,500 81,384 Virginia 2 200 1,459 1 200 1,787 3 2,000 12,345 2 6,000 50, 285 West Virginia... 3 300 2,647 3 700 7,645 2 1,000 11,190 1 1,000 9,947 North Carolina.. 4 425 4,111 1 250 1,264 3 4,700 70,153 South Carolina- 4 425 4,210 1 200 3,133 Georgia 11 1,200 8,885 4 1,080 9,533 2 1,200 8,109 2 3,500 13, 372 Florida 1 100 1,353 1 1,000 16,134 East South Central: Kentucky 1 150 1,162 1 200 3,392 2 1,250 12,164 3 3,000 33, 709 Tennessee 1 100 245 1 200 1,158 3 6,500 67,491 Alabama 2 200 1,562 1 200 1,028 1 500 1,705 1 1,000 21, 090 Mississippi 1 100 717 1 200 1,738 West South Central: Arkansas 5 525 3,922 4 800 10,131 2 1,000 21, 259 1 1,000 17,045 Louisiana 2 500 5,896 2 1,250 23,758 3 9,700 168,919 Oklahoma Texas 12 1,300 11,182 3 800 9,440 Mountain: Montana 6 650 13,946 2 450 5,184 1 600 23, 858 Idaho 3 350 9,030 1 200 1,213 Wyoming _. 1 100 2,084 Colorado _ .... 2 1,000 17, 797 .... New Mexico Arizona 1 1,050 18,837 Utah 5 500 6,370 4 1,050 5,795 1 1,500 23,814 Pacific: Washington 8 900 14,432 3 675 6,528 1 500 11, 043 1 1,000 12,110 Oregon 5 575 6,198 4 850 11,011 1 500 7,699 California 3 320 3,586 3 903 11, 335 7 37, 500 765,838- Total 232 25, 590 364, 613 204 55,879 802,481 88 51, 797 780,836 181 705, 072 12, 532, 267 2 Includes 14 banks with capital in excess of $10,000,000, as follows: Massachusetts, 1 with capital of $15,000,000 and deposits of $181,896,000; New York, 9 with capital of $209,867,000 and deposits of $3,887,330,000; Ohio, 1 with capital of $22,850,000 and deposits of $310,606,000; Illinois, 1 with capital of $15,000,000 and deposits of $369,846,000; Michigan, 1 with capital of $11,000,000 and deposits of $274,221,000; California. 1 with capital of $12,000,000 and deposits of $264,065,000. 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 NO. 1 DISTRICT NO. 1—Continued CONNECTICUT—continued CONNECTICUT Willimantic—Windham National Ito9. (See also District No. 2) Bank. Winsted—Hurlbut National Bank.._ 1 to 9. Ansonia—Ansonia National Bank 1 to 9. Bristol—Bristol National Bank 1 to 8. MAINE Derby—Birmingham National Bank. Ito9. Auburn—National Shoe & Leather 1 to 7. Hartford- Bank. Capitol National Bank & Trust Ito9. Augusta—First National Granite Ito9. Co. Bank. First National Bank 1 to 9. Bangor— Hartford National Bank & Trust 1 to 9. Merchants National Bank 1 to 9. Co. Bar Harbor—First National Bank 1 to 4. Meriden—Home National Bank 1 to a Bath- Middletown— Bath National Bank 1 to 8. Central National Bank 1 to 9. First National Bank 1 to 8. Middletown National Bank & 1 to 9. Belfast—City National Bank 1 to 8. Trust Co. Biddeford—First National Bank of 1 to 9. Naugatuck—Naugatuck National Biddeford. Bank. Damariscotta—First National Bank 1,2,3, 5, and New Britain- of Damariscotta. 6. City National Bank 1 to 8. Ellsworth—Liberty National Bank.. 1 to 9. New Britain National Bank 1 to 9. Fort Kent—First National Bank 1 to 3, 5 to 9. New Haven- Houlton—First National Bank 1 to 5, and 9. First National Bank & Trust Co.1 to 8. Lewiston— Merchants National Bank 1 to 8. First National Bank Ito9. National Tradesmens Bank & Ito9. Manufacturers National Bank... 1 to 5, and 9. Trust Co. Norway—Norway National Bank. .. 1 to 8. NPW Haven Bank, N. B. A Ito9. Pittsfield—Pittsfield National Bank . Ito9. Second National Bank 1 to 9. Portland — New London- Canal National Bank... 1 to 9. National Bank of Commerce 1 to 5. First National Bank. 1, 2, and 4. New London City National Bank 1, 2. 3, 5, 7, Portland National Bank 1 to 9. Rockland— N E Pu o o c t r n k w a v i m i c l 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 n k k... 1 It 8 o to . 9 a . 9 n . d 9. Rum N R fo o o r c r d t k — h la N n R d u a m t N io f a n o t r a i d o l n B N a a l a n B t k io a n n a k l Bank.. I 1 1 t o t t o o 9 . 9 9 . . First National Bank 1 to 9. Saco—York National Bank Ito9. Rockviile National Bank.. 1 to 9. Sanford—Sanford National Bank 1 to 9. Torrington—-Torrington National Ito7. Skowhegan—First National Bank Ito9. Bank. Springvale—Springvale National 1 to 9. "Wallingford—First National Bank... Ito9. Bank. Waterbury— Thomaston—Georges National Bank. 1 to 3, 5, and Citizens and Manufacturers Na- Ito9. 8. tional Bank. Van Buren—First National Bank 1 to 3, 5 to 7, "Waterbury National Bank Ito9. and 9. 284 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 285 Powers Powers granted granted DISTRICT NO. 1—Continued DISTRICT NO. 1—Continued MAINE—continued MASSACHUSETTS—continued Waldoboro—Medomak National 1 to 3, 5 to 7, Nantucket—Pacific National Bank... 1 to 9. Bank. and 9. Needham—Needham National Bank. Ito9. Waterville— New Bedford- Peoples National Bank _ Ito9. First National Bank 1 to 9. Ticonic National Bank 1 to 4. Merchants National Bank 1 to 9. Safe Deposit National Bank 1 to 9. MASSACHUSETTS Newburyport—Merchants National 1 to 8. Bank. Adam Fi s r — st National Bank 1 to 8. No ti r o t n h a l A B d a a n m k s . —North Adams Na- 1 to 9. Graylock National Bank 1 to 7 and 9. North Attleboro—Manufacturers Na- 1 to 9. Amherst—First National Bank 1 to 9. tional Bank. Andover—Andover National Bank... 1 to 9. Northampton- A B A B e o t t h t v s l o t e e o l b r n — l o y — r — A o— t B ho e F l v i r e N s r t l a y t N io N a n t a i a t o l i n o B a n l a a n l B k B an a k nk 1 1 1 t t t o o o 4 3 9 . , . 5 to 8. P O a r l a m n F N g e i o e r r — — s rt t h O P N a a r m a a l t m n p io g t e n o e r a n N N l N a B a t t a a i i o t o n i n o n k a n a l l a l B B B a a n n a k _ k nk 1 I lt t o t o f o l 9 L 9 . . A F F B e i o t r d l s s a e t t n o r N t a n i l c a N N t N i a o a a t n t i t i o a i o o n l n n a B a a l l a l B B n B a k a a n n n k k k . 1 1 1 1 t t t t o o o o 9 9 9 9 . . . . Pitts A P fi i e g t l t r d s i f — c i u e l l t d u r N al a t N io a n ti a o l n B a a l n B k a & nk Trust 1 It t o o 9 7 . and 9. Merchants National Bank 1 to9. Co. N N W Se a a c e t t o b i i o o n s n n t d e a a r N l l & S R at h o i A a o c w t n k l a l a m a l s n u B N d t a a B B n ti k a a o n n n k k a _ l _ Bank. 1 1 1 1 t t t t o o o o 9 9 9 9 . . . . P P Q r l u o y i v n m P O i c n l l y o y d c — m u e C t t o N o h o u w - l a t o t h n i n o — y N n a F N a l t i a r i M o s ti t n o o a N n u l a a n B l t t i B a o W n n a k a n o l k l la B s a to n n k. 1 1 1 1 t t t t o o o o 5 4 9 9 . . . , . Brockton- Bank of Quincy. D E Fa d e B l g d l a B H a h n r R a r o t k m o o i m . c w v — k e e n t r o N — D - n a e E t d N i d h o a g a n t a m a i r o l t n o N B a w a a l n n t B i k o a n n a k N l a B ti a o n n k a . l _ .. 1 1 1 1 t t t t o o o o 9 3 9 5 . . . . R S S S a o h e N B l u e a e a l t a d m b h n t i u i b n — k o r r g . n n i — d M a e g l F e e B r — i F c r a s h a S n t a l l k o n N s u . t — a s th t N i S b o h r a n i e t d a i l o g b l n u e B a m a l N n e B k at a i F o n a n k l a l . s l .. 1 1 1 I t t t t o o o o 9 7 9 4 . . . and 9. Fall River National Bank 1 to 9. Springfield— F F F F r o i a a t B l x c m m b a h o n i b o n r k u u o g r . t — h g h a — — m Fo S F — x a a b f l F e o m r t r a y o o m u N i t F n h a g u t N h i n o a a d n m t a io l N N n B a a a a l t t n i i B o o k a n n n a a k l l 1 1 1 1 t t t t o o o o 9 9 9 9 . . . . Ti t s i b o T C S u n p h h r a r y i l a i r n — p d B g i n a f N M i n e N a k l a t d r . a i t o t h N i n o a a a n 's l t a i B o l n a V B n a i a l k n n B e k & y a a T n r k r d u st N C a _ o - _ . 1 1 1 1 t t t to o o o 9 8 8 9. . . . G Gl a B o r u d a c n n e k e s r . te — r— First National Bank Ito9. T To u B w rn a n n e s r k e s . n d— Fa T ll o s— wn C se ro n c d k N er a tio N n a a t l i B on a a n l k 1 1 t t o o 7 3 . and 9, H G G a r r h e e v a e a e G C i n w t r a h l f o i e p i e u l e B l l B c d — a A e — a s r n n r te i F k n n r i . g r N N s t t o a a n t N t i — i o o a n n t N i a a o l a l n t B B i a o l a a n n B n a k k l a nk Ma- 1 1 I 1 t t t o t o o o 9 9 9 . 9 . . . U W W W x h B a a a b a r t l a e r t e m n h i r h d t a k . a o g m . m w e— — — n— B W N l U a a a c t l n i t k o i h o s n a t n a o m l n M e B N a N a a r n k t a i k e t o i t o n o N n a f l a a W l t B i B o a a n a r n e n a k - l k . 1 l I 1 t t t t o o o o 4 9 7 4 . . . and 9. H H Ip o u s l d w y E M F s o i o c s i k r e n s h e s e r — — — t r x i N m H F N H a i a u a o r t c s d i t i k o t i s y o n o o N N n a n k a a l a e l t N t B i i N B o o a a n n t a a n i a t a n o k i l l o n k B n B a .. l a a . a l n B n k k B an an k k___ t t t t t o o o o o 4 4 9 9 9 . . . . . W W W W W o e e e el s b s b l t t e s u f t s i N r e e l n e r l e — d y — w — — W t F o F W i n r o i s r — e b s t l u t l N e F r N s n i a l r e t a s N i y t t o i a o n N N t n a i a a o l a t t l n i B i o o a B a n l n n a a a B n k l l k a B B n a a k n n . k k .. . . 1 I I 1 1 t t , t t o o o o 2 9 8 , 4 9 . . 3 . . , 6, 7, Lawrence—Bay State National Bank. to 9. Worcester— and 9. L Lo eo w m L M el e i l n e — o r s m c te h i r n a — s n t t e s r N N a a t t i i o o n n a a l l B B a a n n k k _. 1 It t o o 4 7 . and 9. Yarm W M o o e o u f c r c t h Y h e a p s a n t o r i e c m r r t s — C o N u o F a t u h i t n r i . s o t t y n N a N l a a B t t i i o a o n n n a k a l l . B . B a a n n k k I 1 1 t t o t o o 9 4 9 . . . Appleton National Bank 1 to 9. Old Lowell National Bank __ 1. Union National Bank 1 to 9. NEW HAMPSHIRE Lynn- Berlin- Central National Bank 1 to 8. Berlin National Bank 1, 2, 4, 6, Manufacturers National Bank... Ito9. and 7. National City Bank 1 to 5 and 7. City National Bank 1. State National Bank _ 1 to 9. Charleston—Connecticut River Na- 1 and 4. Maiden- tional Bank. First National Bank Ito9. Claremont— Second National Bank 1 to 9. Claremont National Bank__ Ito4. Marblehead—National Grand Bank. 1 to 9. Peoples National Bank 1. Marlboro- Concord- First National Bank 1 to4. First National Bank 1 to 9. Peoples National Bank 1 to 9. Mechanicks National Bank _ 1, 2, and 4. Medford—First National Bank 1, 2, 3, md National State Capital Bank 1 and 4. 5. Derry—Derry National Bank.. 1. Methuen—Methuen National Bank. 1 to 8. Dover- Milford— Merchants National Bank 1 to 3. Home National Bank 1 to 4. Strafford National Bank 1 to 4. Milford National Bank & Trust Ito9. Franklin—Franklin National Bank.. 1. Co. Hanover—Dartmouth National Bank 1, 4, and 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
286 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 1—Continued DISTRICT NO. 2 NEW HAMPSHIRE—-continued CONNECTICUT Keene— (See also District No. 1) Ashuelot National Bank 1 and 4. Bridgeport- Keene National Bank 1 to 4. City National Bank & Trust Co. 1 to 9. Laco L n a ia c — onia National Bank 1 and 4. Dan F bu ir r s y t — National Bank _ 1 to 9. Peoples National Bank 1 and 4. City National Bank & Trust Co. 1 to 9. Man A F ch i m r e s o s t t s e N k r e — a a t g io N na a l t i B on an al k Bank 1 1 , , a 2 2 n , , d a 4 n 9 , d . 6 4 , . 7, N G e re w e D n C a w n a i n b c a h u a — r n y — F N ir F a s i t t r i s o N t n a N a t l i a o t B n io a a n n l a k B l a B n a k n i k n . . . . . 1 I It t t o o o 9 9 9 . . . Manchester National Bank... 1. Norwalk—National Bank of Norwalk Ito9. Milf M ord e — rch S a o n u t h s e N ga a n t io N n a a t l i o B n a a n l k Bank._. 1 1 , a 4 n , d a n 4 d . 9. Ri T dg ru e s fi t e l C d o — . First National Bank & Ito9. Nashua- South Norwalk—City National Bank. 1 to 5. I S n e d co ia n n d H N e a a t d io n N a a l t i B o a n n a k l Bank 1 1, , a 2 2 n , , 3 d a , 4 9 n , . d 6 , 4 7 . , Stam F Pe i f r o o s p r t d le S - s ta N m a fo ti r o d n a N l a B ti a o n n k al Bank... 1 1 t t o o 9 9 . . Newport—Citizens National Bank.,. 1 and 4. NEW JERSEY Peterboro—First National Bank 1, 4, and 9. (See also District No. 3) Plymouth—Pemigewasset National 1 and 4. Bank. Allenhurst—Allenhurst National 1 to 9. Portsmouth- Bank & Trust Co. First National Bank 1, 2, 4, 6, 7, Allentown—Farmers National Bank. 1 to 9. and 9. Asbury Park—Merchants National Ito9. New Hampshire National Bank.. 1 and 9. Bank. Rochester—Public National Bank... 1, 2, 4, 6, 7, Atlantic Highlands—Atlantic High- Ito8. and 9. lands National Bank. Tilton—Citizen's National Bank 1 and 2. Bayonne—Mechanics' National Bank_ Ito9. Wolfeboro—Wolfeboro National Bank 1 and 4. Belleville—Peoples National Bank & Ito9. Trust Co. KHODE ISLAND Belvidere—Belvidere National Bank. Ito8. Newport— Bergenfield—Bergenfleld National Ito9. Prov A N id q e B e w u n a i c p n d e o k n — r e t & c k N S a a t N v io i a n n t g i a o s l n C B a o l a . n E k xchange 1 It t o o 9 9 . . B B l e a B o r l o n a m a n B r k f a d i e n s & l v k d i . — T lle r B u — l s o t B o C m er o f n i . e a l r d d svi N lle a N ti a o ti n o a n l - 1 1 t t o o 9 9 . . Bank. Blackstone Canal National Bank. 1 to 9. Boonton—Boonton National Bank... 1 to 9. National Bank of Commerce 1 to 9. Boundbrook—First National Bank... 1 to 9. Providence National Bank Ito9. Butler—First National Bank Ito9. Caldwell— VERMONT Caldwell National Bank 1 to 9. Barre—Peoples National Bank 1 to 9. Citizens National Bank & Trust 1 to 8. Bellows Falls—National Bank of Bel- Ito9. Co. lows Falls. Carlstadt—Carlstadt National Bank. Ito9. Bennington— Carte ret—First National Bank 1 to 9. County National Bank 1 to 9. Clifton—First National Bank 1 to 9. First National Bank Ito9. Closter— Bethel—National White River Bank. 1 to 9. Closter National Bank & Trust 1 to 9. Brandon—First National Bank 1 to 4. Co. Brattleboro—Vermont Peoples Na- Ito9. Cranbury—First National Bank 1 to 9. tional Bank. Dover—National Union Bank Ito9. Burlington—Howard National Bank. 1 to 8. Dunellen—First National Bank 1 to 9. Chelsea—National Bank of Orange Ito8. East Orange—First National Bank... 1 to 9. County. Elizabeth- Chester—National Bank of Chester.. 1, 2, 3, and National State Bank 1 to 7 and 9. 5. Peoples National Bank 1 to 9. Danville—Caledonia National Bank.. 1 to 9. Englewood—Citizens National Bank 1 to 9. Derby Line—National Bank of Derby 1 to 3,5 and 9. & Trust Co. Line. Flemington—Flemington National Ito9. Enosburg Falls—First National Bank 1 to 9. Bank. Manchester Center—Factory Point 1 to 9. Freehold- National Bank. Central National Bank 1 to 9. Middlebury—National Bank of Mid- 1 to 9. First National Bank Ito9. dlebury. National Freehold Banking Co... Ito9. Montpelier— Frenchtown—Union National Bank.. 1 and 4. First National Bank Ito4. Garfield—First National Bank.... Ito9. Montpelier National Bank Ito9. Hackettstown— Newport—National Bank of Newport 1 to 7 and 9. Hackettstown National Bank Ito9. Northfield—Northfield National Ito9. Peoples National Bank 1 to 9. Bank. Highland Park—First National Bank- 1 to 9. Poultney— Citizens National Bank... Ito4. Hillside—Hillside National Bank 1 to 9. Rutland- Hoboken—First National Bank 1 to 4. Central National Bank 1 to 7 and 9. Irvington— Clement National Bank 1 to 3,5 to 7. Irvington National Bank 1 to 9. Rutland County National Bank. 1 to 9. Peoples National Bank.. Ito9. St. A1 bans—Welden National Bank.. 1 to 4. Jersey City— St. Johnsbury—First National Bank. 1 to 6 and 9. First National Bank Ito9. Springfield—First National Bank 1 to 4 and 5. Franklin National Bank 1 to 7 ar.d 9. Windsor—State National Bank 1 to 3, 5, 6, Hudson County National Bank.. 1 to 9. and 7. Journal Square National Bank 1 to f. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 287 Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW JERSEY—continued NEW JERSEY—continued Kearny—First National Bank & 1 to 9. Trust Co. Red Bank- Lambertville— Broad Street National Bank 1 to 9. Amwell National Bank _ Ito9. Second National Bank & Trust 1 to 9. Lambertville National Bank Ito9. Co. Linden—Linden National Bank & Ito9. Ridgewood— Trust Co. Citizens National Bank & Trust 1 to 9. Little Falls—Little Falls National Ito9. Co. Bank. First National Bank Ito9. Long Branch—Citizens National Ito9. Roselle—First National Bank Ito9. Bank. Rutherford—Rutherford National 1 to 9. Lyndhurst—First National Bank Ito9. Bank. Madison—First National Bank 1 to 9. Somerville—Second National Bank.. Ito4. Manasquan—Manasquan National Ito9. South Amboy—First National Bank. 1 to 9. Bank. South River—First National Bank... 1 to 9. Metuchen—Metuchen National B ank. Ito9. Summit—First National Bank & Ito9. Milburn—First National Bank 1 to 9. Trust Co. Milltown—First National Bank Ito9i Sussex—Farmers National Bank Ito4. Montclair— Tenafly—Northern Valley National 1 to 9. First National Bank & Trust Ito9. Bank. Co. Union City—First National Bank Ito9. Montclair National Bank Ito9. Washington—First National Bank... 1 to 9. Morristown— Weehawken—Hamilton National Ito9. First National Bank Ito9. Bank. National Iron Bank Ito9. West New York—First National Ito9. Newark— Bank. Hayes Circle National Bank & 1 to 9. West Orange—First National Bank.. Ito9. Trust Co. Westwood—First National Bank Ito9. Labor National Bank Ito9i Woodbridge—First National Bank... Ito9. Lincoln National Bank Ito9. Mount Prospect National Bank.. 1 to 9. NEW YORK National Newark & Essex Bank- Ito9. ing Co. Adams—Farmers National Bank Ito9. National State Bank. Ito9. Albany- New Jersey National Bank & Ito9. National Commercial Bank & Ito8. Trust Co. Trust Co. North Ward National Bank Ito9. New York State National Bank.. Ito9. Port Newark National Bank 1 to 9. Amity ville—First National Bank & Ito9. South Side National Bank & Ito9. Trust Co. Trust Co. Amsterdam- New Brunswick- Amsterdam City National Bank. Ito3,5to8. National Bank of New Jersey Ito9. Farmers National Bank Ito9. Peoples National Bank Ito9. First National Bank 1 to 9. Newton—Sussex & Merchants Na- Ito9. Auburn— tional Bank. Cayuga County National Bank.. 1 to 9. Nutley— National Bank of Auburn 1 to 9. First National Bank _ 1 to 9. Babylon—Babylon National Bank Ito9. Franklin National Bank Ito9. & Trust Co. Ocean Grove—Ocean Grove National 1 to 9. Ballston Spa— Bank. Ballston Spa National Bank 1 to 9. Orange— First National Bank 1 to 9. Orange National Bank_ Ito8. Batavia—First National Bank 1 to 9. Second National Bank Ito9. Bath—Bath National Bank Ito9. Passaic— Bay Shore—First National Bank & 1 to 9. American National Bank Ito9. Trust Co. Lincoln National Bank 1 to 9. Beacon— Passaic National Bank & Trust Ito9. Fishkill National Bank Ito9. Co. Matteawan National Bank of 1 to 9. Paterson— Beacon. Broadway National Bank 1 to 9. Binghamton— Columbus National Bank Ito9. City National Bank 1 to 9. First National Bank 1 to 9. First National Bank Ito9. Labor National Bank Ito9. Bridgehampton— Bridgehampton 1 to 9. National Bank of America 1 to 9. National Bank. Paterson National Bank 1 to 9. Bronxville—Gramatan National 1 to 9. Second National Bank 1 to 9. Bank & Trust Co. Perth Amboy— Brooklyn- First National Bank 1 to 9. Nassau National Bank 1 to 9. Perth Amboy National Bank Ito9. Prospect National Bank & Trust 1 to 9. Phillipsburg— Co. of Brooklyn in New York. Phillipsburg National Bank & 1 to 8. Traders National Bank 1 to 9. Trust Co. Buffalo—Community National Bank 1 to 9. Second National 'Bank 1 to 9. Camden—First National Bank & Ito9. Plainfield—First National Bank Ito9. Trust Co. Pompton Lakes—First National Ito8. Canajoharie—National Spraker Bank Ito9. Bank & Trust Co. Canandaigua—Canandaigua Na- Ito9. Rahway— tional Bank & Trust Co. Citizens National Bank 1 to 9. Canton- Rah way National Bank 1 to 9. First National Bank Ito9. Ramsey—First National Bank & 1 to 9. St. Lawrence County National 1 to 3,5 to 8 Trust Co. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
288 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW YOEK—continued NEW YORK—continued Carmel—Putnam County National Ito9. Hornell— Bank. Citizens National Bank & Trust 1 to 9. Carthage— Co. Carthage National Bank 1 to 9. First National Bank 1 to 9. National Exchange Bank 1 to 9. Hudson- Catskill—Catskill National Bank 1 to 8. Farmers National Bank. 1 to 9. Cedarhurst—Peninsula National 1 to 9. First National Bank & Trust Co. Ito9. Bank. Hudson Falls- Chester—Chester National Bank 1 to 9. Peoples National Bank 1 to 9. Clayton—National Exchange Bank.. 4. Sandy Hill National Bank Ito9. Cohoes—National Bank of Cohoes... 1 to 8. Ilion— Cooperstown— Ilion National Bank & Trust Co. 1 to 9. First National Bank. 1 to 9. Manufacturers National Bank 1 to 9. Second National Bank 1 to 8. Islip—First National Bank 1 to 9. Corning—First National Bank & 1 to 8. Ithaca—First National Bank Ito9. Trust Co. Jamestown- Cortland— American National Bank 1 to 9. National Bank of Cortland Ito9. National Chautauqua County 1 to 8. Second National Bank & Trust 1 to 9. Bank. Co. Kenmore—First National Bank 1 to 9. Cuba- Kingston- Cuba National Bank _ Ito9. First National Bank of Rondout. 1 to 9. First National Bank 1 to 9. National Ulster County Bank & 1 to 9. Delhi—Delaware National Bank 1 to 9. Trust Co. Dolgeville—First National Bank 1 to 9. Rondout National Bank Ito9. Dover Plains—Dover Plains Na- 1 to 9. State of New York National 1 to 9. tional Bank. Bank. Dunkirk- Lackawanna—Lackawanna National Ito9. Lake Shore National Bank 1 to 9. Bank. Merchants National Bank 1 to 8. Larchmont—Larchmont National Ito9. Edwards—Edwards National Bank.. 4. Bank & Trust Co. E llenville—First National Bank & 1 to 9. Liberty—Sullivan County National Ito9. Trust Co. Bank. Elmira— Little Falls—Little Falls National Ito9. Merchants National Bank & Ito9. Bank. Trust Co. Lockport—Niagara County National 1 to 9. Second National Bank _ Ito9. Bank & Trust Co. Fairport—Fairport National Bank & 1 to 9. Lowville—Black River National Ito9. Trust Co. Bank. Far Rockaway—National Bank of 4. Lynbrook— Far Rockaway. Lynbrook National Bank & 1 to 9. Floral Park—First National Bank 1 to 9. Trust Co. & Trust Co. Peoples National Bank & Trust Ito9. Fonda—National Mohawk River 1 to 8. Co. Bank. Malone—Farmers National Bank... 1 to 9. Fort Plain—Fort Plain National 1 to 9. Mamaroneck—First National Bank Ito9. Bank. & Trust Co. Frankfort—Citizens First National 1 to 9. Manhasset—First National Bank & 1 to 9. Bank. Trust Co. Fredonia—National Bank of Fre- 1 to 9. Massena—First National Bank & 1 to 9. donia. Trust Co. Freeport— Middletown— Citizens National Bank Ito9. First National Bank & Trust Co. 1 to 9. First National Bank & Trust Co. 1 to 9. Merchants National Bank 1 to 9. Fulton—Citizens National Bank 1 to 9. Mineola—First National Bank 1 to 9. Geneseo—Genesee Valley National 1 to 9. Monticello—National Union Bank of Ito9. Bank. Monticello. Glens Falls- Morristown— Frontier National 4. First National Bank 1 to 9. Bank. National Bank of Glens Falls 1 to 9. Mount Kisco—Mount Kisco Na- Ito9. Gloversville— tional Bank & Trust Co. City National Bank 1 to 9. Mount Vernon— Fulton County National Bank.. 1 to 9. American National Bank <fc Ito9. Goshen—National Bank of Orange 1 to 9. Trust Co. County. First National Bank Ito8. Granville— Newark—Arcadia National Bank Ito9. Farmers National Bank 1 and 4. & Trust Co. Washington County National 4. Newburgh— Bank. Highland Quassaick National 1 to 9. Hampton Bays—Hampton Bays Ito9. & Trust Co. National Bank. National Bank of Newburgh 1 to 9. Hancock—First National Bank 1 to 9. New Rochelle— Haverstraw—National Bank 1 to 9. Central National Bank Ito9. Trust Co. National City Bank _ 1 to 9. Hempstead—First National Bank 1 to 9. New York- Herkimer—Herkimer National Bank. Ito8. Bank of America National Asso- 1 to 9. Highland Falls—First National Bank 1 to 9. ciation.. Hoosick Falls- Bedford National Bank of Brook- Ito9. First National Bank 1 to 9. lyn in New York. Peoples National Bank 1 to 8. Central National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 289 Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2-Continued NEW YORK—continued NEW YORK—continued New York—Continued. Chase National Bank 1 to 9. Red Hook—First National Bank 1,2, and 3. Chatham & Phenix National Ito9. Richfield Springs—First National 1 to 9. Bank & Trust Co. Bank. Chemical National Bank- Ito9. Riverhead—Suffolk County National Ito9. Commercial National Bank & Ito9. Bank. Trust Co. Rockville Center- Dunbar National Bank 1 to 9. First National Bank 1. First National Bank 1 to 9. Nassau County National Bank__ 1 to 9. Garfield National Bank 1 to 9. Rome—Farmers National Bank & Ito9. Grace National Bank 1 to 9. Trust Co. Hanover National Bank 1 to 9. Roscoe—First National Bank 1 to 9. Harriman National Bank & 1 to 9. Rye—Rye National Bank Ito9. Trust Co. St. Johnsville—First National Bank— 1 to 9. Industrial National Bank 1 to 9. Saranac Lake—Adirondack National Ito9. Liberty National Bank 1 to 9. Bank & Trust Co. National Bank of Commerce 1 to 9. Saratoga Springs—Saratoga National 1 to 9. National City Bank 1 to 9. Bank. National Park Bank 1 to 9. Saugerties—First National Bank & 1 to 9. Public National Bank & Trust 1 to 9. Trust Co. Co. Sayville—Oystermens National Bank 1 to 9. Seaboard National Bank 1 to 9. Scarsdale—Scarsdale National Bank 1 to 9. Seward National Bank Ito9. & Trust Co. Straus National Bank & Trust 1 to 9. Schenectad}^— Co. Mohawk National Bank__ 1 to 9. Niagara Falls—National Bank of Ni- 1 to 9. Union National Bank 1 to 9. agara & Trust Co. Silver Creek—Silver Creek National Ito9. Norwich— Bank Chenango National Bank & Ito8. Skaneateles—National Bank & Trust Ito9. National Bank & Trust Co 1 to 9. Southampton—FirstNationa 3Bank. 1 to 8. Northport—First National Bank & 1 to 9. Spring Valley—Firs National Bank. Ito9. Trust Co. Stamford—National Bank of Stam- 1 to 9. Nyack—Nyack National Bank Ito9. ford. Ogdensburg—National Bank of Og- 1 to 8. Suffern—Suffern National Bank & Ito9. densburg. Trust Co. Olean— Syracuse- Exchange National Bank 1 to 9. Liberty National Bank & Trust Ito9. 1 to 9. Oneida—Oneida Valley National Ito9. Merchants National Bank & 1 to 9. Bank. Trust Co. Oneonta— Salt Springs National Bank 1 to 9. Citizens National Bank & Trust Ito9. Tarrytown—Tarrytown National Ito3,5to9 Wi C lb o er National Bank... Ito9. Ti B co a n n d k e . roga—Ticonderoga National 1 to 9. Ossining—First National Bank & 1 to 9. Bank. Os i w r e u g s o i — o S o e . cond National Bank & 1 to 9. Troy M — a • nufacturers National Bank... Ito9. Trust Co. National City Bank Ito9. Ovid—First National Bank 4. Union National Bank._ Ito9. Owego— United National Bank.. _. Ito9. First National Bank 1 to 9. Tuckahoe—First National Bank & Ito9. Owego National Bank 1 to 9. Trust Co. Patchogue—Peoples National Bank, Ito9. Tuxedo—Tuxedo National Bank Ito9. Pearl River—First National Bank & 1 to 9. Utica— Trust Co. Oneida National Bank Ito9. Peekskill— Utica National Bank & Trust Ito9. Peekskill National Bank _.. Ito9. Co. Westchester County National 1 to 9. Valley Stream—Valley Stream Na- 1 to 9. Bank. tional Bank & Trust Co. Perry—First National Bank 1 to 9. Walton—First National Bank Ito9. Plattsburg— Warrensburg—Emerson National Ito9. Merchants National Bank Ito9. Bank. Plattsburg National Bank & 1 to 5, 7 to 9. Warsaw—Wyoming County Na- Ito9. Trust Co. Port Chester—First National Bank 1 to 9. Warwick—First National Bank. Ito9. & Trust Co. Watertown— Port Henry—Citizens National Bank- 1 to 9. Jefferson County National Bank. Ito9. Port Jervis— Watertown National Bank _ Ito8. First National Bank... 1 to 9. Waverly—First National Bank, Ito9. National Bank & Trust Co. of Ito9. Wellsville—Citizens National Bank-. Ito9. Port Jervis. Westbury—Wheatley Hills National Ito9. Port Richmond—Staten Island Na- 1 to 9. Bank. tional Bank & Trust Co. Westfield—National Bank of West- Ito9. Port Washington—Port Washington 1 to 9. field. National Bank & Trust Co. Whitehall—Merchants National Ito9. Potsdam—Citizens National Bank... 1 to 9. Bank. Poughkeepsie— White Plains—Peoples National 1 to 9. Fallkill National Bank & Trust 1 to 9. Bank & Trust Co. Farmers & Manufacturers Na- 1 to 9. i on F K i e r r s s— t National Bank Ito9. tional Bank. Yonkers National Bank & Trust Ito9. Merchants National Bank I to 9. Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
290 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 3 DISTRICT NO. 3—Continued DELAWARE NEW JERSEY—continued Delmar—First National Bank Ito8 Point Pleasant Beach—Ocean Coun- Ito8. Dover—First National Bank.. Ito9 ty National Bank. Laurel—Peoples National Bank ltoS Princeton—First National Bank Ito9. Milford—First National Bank & Ito9. Salem— Trust Co. City National Bank & Trust Co. Ito9. Seaford—First National Bank Ito8. Salem National Bank & Trust Ito9. Smyrna- Co. Fruit Growers National Bank & Ito9. Swedesboro—Swedesboro National Ito9. lrust uo. Bank. National Bank of Smyrna Ito9. Toms River—First National Bank.. Ito9. Wilmington- Trenton- Central National Bank.- Ito9. Broad Street National Bank Ito9. National Bank of Delaware Ito9. First-Mechanics National Bank.. 1 to 9. Union National Bank Ito9. Prospect National Bank Ito9. Ventnor City—Ventnor City Na- Ito9. NEW JERSEY tional Bank. (See also District No. 2) Vi & ne T la r n u d s — t C V o in . eland National Bank Ito9. Absecon—First National Bank Ito9. Wildwood—Marine National Bank.. Ito9. Atlantic City— Woodbury—First National Bank & Ito9. Atlantic City National Bank 1 to 4. Trust Co. Chelsea National Bank Ito9. Woodstown—Woodstown National Ito9. Pacific Avenue National Bank._. 1 to 9. Bank & Trust Co. Second National Bank Ito9. Union National Bank Ito3. PENNSYLVANIA Audubon—Audubon National Bank. 1 to 9. Barnegat—First National Bank Ito9. (See also District No. 4) Beach Haven—Beach Haven Na- Ito9. tional Bank & Trust Co. Allentown— Beverly—First National Bank & Ito9. Allentown National Bank Ito9. Trust Co. Merchants National Bank Ito8. Blackwood—First National Bank & 1 to 9. Second National Bank Ito9. Trust Co. Altoona— Bordentown—First National Bank._ Ito9. First Nationa) Bank Ito9. Bridgeton— Second National Bank Ito9. Bridgeton National Bank Ito9. Ambler—First National Bank Ito9. Farmers and Merchants Na- 1 to 9. Annville-Annville National Bank Ito9. tional Bank. Ardmore—Ardmore National Bank Ito9. Burlington—Mechanics National Ito9. & Trust Co. Ca B m a d n e k n . — As B h a la n n k d . —The Ashland National 1 to 9f American National Bank 1 to 9. Ashley—First National Bank Ito9. First Camden National Bank & Ito9. Atglen—Atglen National Bank Ito3. Trust Co. Bangor— Third National Bank & Trust Co. 1 to 9. First National Bank Ito9. Cape May—Merchants National 4. Merchants National Bank 1 to 9. Bank. Bedford—Farmers National Bank & Ito9. Collingswood — Collingswood Na- Ito9. Trust Co. tional Bank. Beliefonte—First National Bank Ito9. Elmer—First National Bank Ito9. Belleville—Belleville National Bank. Ito3. Glassboro—First National Bank Ito9. Berwick— Haddonfield—Haddonfield National Ito9. Berwick National Bank _. 1 to 9. Bank. First National Bank Ito9. Hightstown—First National Bank Ito9. Bethlehem- Hope well—Hope well National Bank. 1 to 9. Bethlehem National Bank Ito9. Medford—Burlington County Na- Ito9. First National Bank Ito9. tional Bank. Lehigh Valley National Bank Ito8. Merchantville—First National Bank Ito9. Blossburg—Miners National Bank... Ito4. & Trust Co. Boyertown— Millville— Farmers National Bank Ito9. Mechanics National Bank Ito9. National Bank of Boyertown Ito9. Millville National Bank Ito9. Bradford—Commercial National Ito9. Mount Holly- Bank. Mount Holly National Bank 1 to 8. Bridgeport—Bridgeport National Ito9. Union National Bank & Trust 1 to 9. Bank. Co. Bristol—Farmers National Bank of Ito9. New Egypt—First National Bank & Ito9. Bucks County. Trust Co. Catasauqua— Ocean City- Lehigh National Bank 1 to 9. First National Bank 1 to 7 and 9. National Bank of Catasauqua Ito9. Ocean City National Bank Ito9. C hambersburg— Paulsboro—First National Bank & Ito9. National Bank of Chambersburg. Ito9. Trust Co. Valley National Bank Ito9. Pemberton—Peoples National Bank. Ito9. Chester- & Trust Co. Delaware County National Bank. Ito9. Penns Grove—Penns Grove National 1 to 9. First National Bank __ Ito9. Bank & Trust Co. Clearfield— Pitman—Pitman National Bank & Ito9. Clearfield National Bank Ito9. Trust Co. County National Bank Ito9. Pleasantville—Pleasantville National Ito9. Coatesville—National Bank of Ches- 1 to 9. Bank. ter Valley. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 291 Powers Powers granted granted DISTRICT NO. 3—Continued DISTRICT NO. 3—Continued PENNSYLVANIA—continued PENNSYLVANIA—continued Columbia— Littlestown—Littlestown National Ito9. Central National Bank. .... Ito9. Bank. First Columbia National Bank__ 1 to 9. Lock Haven—First National Bank— Ito9. Conshohocken—First National Bank. 1 to 9. Luzerne—Luzerne National Bank 1 to 9. Dallastown—First National Bank... 1 to 9. Mahanoy City- Danville— First National Bank Ito9. Danville National Bank__ 1 to 9. Union National Bank 1 to 8. First National Bank 1 to 9. Malvern—National Bank of Malvern. 1 to 9. Darby—First National Bank. Ito9. Manheim— Doylestown—Doylestown National 1 to 9. Keystone National Bank _. Ito9. Bank & Trust Co. Manheim Nationall Bank. 1 to 9. Du Bois— Marietta—Exchange National Bank.- Ito4. Deposit National Bank Ito9. Mauch Chunk—Mauch Chunk Na- 1 to 9. Du Bois National Bank 1 to 9. tional Bank. East Stroudsburg—Monroe County Ito9. Maytown—Maytown National Bank 1 to 4. National Bank. Mechanicsburg—Second National Ito9. Easton—First National Bank Ito9. Bank. Ebensburg— First National Bank 1 to 9. Media—First National Bank ._ 1 to 9. Edwardsville—Peoples National 1 to 9. Millheim—Farmers National Bank Ito9. Bank. & lrust v>o. Elizabethtown—First National Bank Ito9. Milton—First National Bank __ Ito9. & Trust Co. Montoursville — First National 1 to 9. Emaus—Emaus National Bank. Ito9. Bank. Emporium—First National Bank 1 to 9. Montrose—First and Farmers Na- Ito9. Ephrata— tional Bank & Trust Co. Ephrata National Bank Ito9. Mount Carmel— Farmers National Bank 1 to 9. First National Bank Ito9. Fleetwood—First National Bank— 1 to 9. Union National Bank 1 to 9. Frackville—First National Bank & 1 to 9. Mount Joy- Trust Co. First National Bank Ito9. Gettysburg- Union National Mount Joy Bank. 1 to 9. First National Bank Ito9. Mountville—Mountville National 1 to 4. Gettysburg National Bank 1 to 9. Bank. Greencastle—First National Bank Ito9. Myerstown—Myerstown National Ito9. Hamburg—First National Bank & Ito9. Bank. Trust Co. Nanticoke— Harrisburg—Harrisburg National 1 to 9. First National Bank 1 to 9. Bank. Nanticoke National Bank 1 to 9. Hazleton— Nazareth—Nazareth National Bank- Ito9. First National Bank 1 to 9. New Holland—New Holland Na- 1 to 5 and 9. Hazleton National Bank 1 to 9. tional Bank. Honesdale—Honesdale National 1 to 9. Newtown—First National Bank & 1 to 7 and 9. Bank. Trust Co. Honeybrook—First National Bank— 1 to 9. Newville—First National Bank 1 to 9. Houtzdale—First National Bank 1 to 9. Norristown—Peoples National Bank- l to 9. Hummelstown—Hummelstown Na- 1 to 9. Northampton—Cement National Ito8. tional Bank. Bank of Siegfried. Huntingdon- Northumberland—Northumberland Ito9. First National Bank 1 to 9. National Bank. Union National Bank 1 to 8. Oley—First National Bank__ Ito9. Jenkintown—Citizens National 1 to 7 and 9. Orwigsburg—First National Bank Ito9. Bank. & Trust Co. Johnstown— Oxford—National Bank of Oxford 1 to 9. First National Bank 1 to 8. Patton—First National Bank Ito9. Moxham National Bank 1 to 9. Pen Argyl—First National Bank Ito9. Kane—First National Bank 1 to 9. Philadelphia— Kennett Square—National Bank of 1 to 9. Central National Bank Ito9. Kennett Square. City National Bank & Trust Co.1 to 9. Kutztown—Kutztown National Ito9. Corn Exchange National Bank Ito9. Bank. & Trust Co. Lancaster— Drovers and Merchants National 1 to 9. Conestoga National Bank 1 to 9. Bank. Fulton National Bank.. 1 to 9. Eighth National Bank 1 to 9. Lancaster County National Bank. 1 to 9. Erie National Bank Ito9. Langhorne—Peoples National Bank 1 to 9. First National Bank ___ 1 to 9. & Trust Co. Kensington National Bank. _ 1 to 3, 5 to 9, Lansdale—First National Bank Ito9. Manayunk-Quaker City National 1 to 9. Lebanon- Bank. First National Bank Ito9. Market Street National Bank 1 to 7 and 9. Lebanon National Bank 1 to 9. Mount Airy National Bank & 1 to 9. Peoples National Bank 1 to 9. Trust Co. Lehighton— National Bank of Germantown__ Ito8. Citizens National Bank 1 to 9. National Bank of Olney in Phila- 1 to 9. First National Bank Ito9. delphia. Lewisburg— National Security Bank 1 to 9. Lewisburg National Bank 1 to 9. Northeast National Bank of Ito9. Union National Bank 1 to 9. Holmesburg. Lewistown— Northern National Bank 1 to 9. Citizens National Bank. 1 to 9. Overbrook National Bank 1 to 9. Russell National Bank 1 to 9. Pelham National Bank & Trust Ito9. Lititz—Farmers National Bank 1 to 4. Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
292 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 3—Continued DISTRICT NO. 3—Continued PENNSYLVANIA—continued PENNSYLVANIA—continued Philadelphia—Continued. Tyrone- Penn national B ank 1 to 9. Blair County National Bank & 1 to 9. Philadelphia National Bank 1 to 9. Trust Co. Second National Bank.._ Ito9. Farmers & Merchants National 1 to 9. Soiithwark National Bank 1 to 9. Bank. Southwestern National Bank Ito8. First National Bank 1 to 9. Tenth National Bank _ 1 to 9. Watsontown—Farmers National 1 to 9. Textile National Bank. Ito9. Bank. Tioga National Bank 1 to 9. Waynesboro— Tradesmens National Bank & Ito9. Citizens National Bank.. 1 to 9. Trust Co. First National Bank & Trust Co. 1 to 9. Philipsburg— Weatherly—First National Bank 1 to 9. First National Bank - Ito9. West Chester— Moshannon National Bank 1 to 9. First National Bank 1 to 9. Phoenixville— National Bank of Chester County 1 to 9. Farmers and Mechanics Na- 1 to 9. West Grove—National Bank & Trust 1 to 9. tional Bank. Co. National Bank of Phoenixville 1 to 9. Wilkes-Barre— Pittston—First National Bank Ito9. Second National Bank 1 to 9. Liberty National Bank 1 to 9. Wyoming National Bank... Ito9. Plymouth—First National Bank 1 to 9. Williamsport— Port Allegany—First National Bank. 1 to 9. First National Bank Ito9. Pottstown— Williamsport National Bank 1 to 9. Citizens National Bank & Trust 1 to 9. Wrightsville—First National Bank... 1 to 9. N N a a t t i i o o n n a a l l I B ro a n n k B o a f n k Pottstown 1 1 t t o o 9 9 . . VXn OrTl D r C K. e r — o n v tr e a r l s N an a d ti o M n e a c l h B an a i n c k s National 1 1 t t o o 9 9 . . Potts ville— Bank. Miners National Bank 1 to 9. First National Bank 1 to 9. Merchants National Bank 1 to 9. Industrial National Bank of 1 to 4. Pennsylvania National Bank & Ito9. West York. Trust Co. Western National Bank 1 to 9. Beading— York County National Bank 1 to 9. Farmers National Bank & Trust Ito9. York National Bank & Trust Co. 1 to 9 Co. National Union Bank ... Ito9. DISTRICT NO. 4 Peira National Bank.. 1 to 9. Beading National Bank & Trust 1 to 9. KENTUCKY Co. (See also District No. 8) Red Lion—Red Lion First National 1 to 9. S S c a Xx h y >l u a r a e W y n — i l Kr k . i F l i l rst H N a a v t e i n o — na F l i B rs a t nk National I 1 t o to 9 . 9. ASDl AS a e U sch Q ol — nadn dN Nataitoionnala lB Baannkk... 1 1 t t o o 5 5 , , 7 7 t t o o 9 9 . . Bank. Third National Bank 1 to 5, 7 to 9. Sen wenks ville—National Bank of 1 to 9. Brooksville—First National Bank Ito4. Scranton— Covington—First National Bank & 1 to 9. First National Bank 1 to 9. Trust Co. Third National Bank 1 to 9. Cynthiana— Union National Bank 1 to 9. Farmers National Bank 1 to 9. Selinsgrove—First National Bank 1 to 9. National Bank of Cynthiana 1 to 5, 7 to 9. Shamokin—• Georgetown—Georgetown National Ito5, 7 to 9. Market Street National Bank 1 to 9. Bank. National Bank of Shamokin. 1 to 9. Harlan— Shenandoah—Merchants National 1 to 9. Citizens National Bank 1 to 9. Bank. Harlan National Bank 1 to 5, 7 to 9. Shickshinny—First National Bank,.. 1 to 3, 5 to 8. Lexington—Phoenix National Bank Ito9. omp F p i e r n s s t D N U a rg ti '— onal Bank 1 to 9. M a id d i l e ru sb b o i r v o ^ — o. National Bank of Ito5, 7to9. Peoples National Bank 1 to 9. Middlesboro. Smethport—Grange National Bank 1 to 9. Mount Sterlingof McKean County. Montgomery National Bank 1 to8. Souderton—Union National Bank & 1 to 9. Mount Sterling National Bank... 1 to 9. Trust Co. Traders National Bank 1 to 5,.7 to 9. Spring City—National Bank & Trust 1 to 9. Newport- Co. American National Bank 1 to 5, 7 to 9. State College- Newport National Bank 1 to 5, 7 to 9. First National Bank 1 to 9. Paintsville— Peoples National Bank 1 to 9. Paintsville National Bank 1 to 5, 7 to 9. Stroudsburg— Second National Bank _ 1 to 8. First National Bank. 1 to 9. Paris—First National Bank 1 to 5, 7 to 9 Stroudsburg National Bank 1 to 9. Pike ville—First National Bank 1 to 8. Sunbury—First National Bank 1 to 9. Pineville—Bell National Bank.. 1 to 5, 7 to 9 Swarthmore—Swarthmore National I 1 to 9. Richmond—Madison National Bank 1 to 5, 7 to 9 Bank & Trust Co. & Trust Co. Tamaqua— Somerset— First National Bank... 1 to 9. Farmers National Bank 1 to 5, 7 to 9 Tamaqua National Bank Ito9. First National Bank 1 to 9. Tioga—Grange National Bank 1 to 4. Williamsburg—First National Bank.. 1 to 4. Topton—National Bank of Topton... 1 to 4. Winchester—Clark County National 1 to 5, 7 to 9 Towanda—Citizens National Bank_. 1 to 9. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 293 Powers Powers granted granted DISTRICT NO. 4—Continued DISTRICT NO. 4—Continued f OHIO OHIO—continued i Akron—National City Bank 1, 4, and 9. Steubenville— Alliance—Alliance First National Ito9. National Exchange Bank & Trust' 1 to 7 and & Ashtabula— Co. Farmers National Bank. 1 to 9. Peoples National Bank _ 1 to 7 and 9. National Bank of Ashtabula 1 to 7 and 9. Tiffin- Athens- Commercial National Bank Ito7and9t Athens National Bank_._ 1 to 7 and 9. Tiffin National Bank.. _ 1 to 7 and 9. Bank of Athens, N. B. A 1 to 7 and 9. Toledo—First National Bank.. Ito7and9. Bellaire—First National Bank 1, 3,4,5, and Troy—First Troy National Bank & 1 to 7 and 9. 9. Trust Co. Bradford—First National Bank 1 to 7 and 9. Urbana—Champaign National Bank- 1 to 7 and 9. Cadiz—Fourth National Bank 1 to 7 and 9. Warren—Second National Bank Ito9. Canton—First National Bank. 1 to 7 and 9. Wilmington—Clinton County Na- 1 to 7 and 9, Cincinnati— tional Bank & Trust Co. Atlas National Bank. 1 to 9. Wooster—Wayne County National First National Bank.. _ 1 to 7 and 9. Bank. Lincoln National Bank 1 to 9. Youngstown— f| Second National Bank... 1 to 7 and 9. Commercial National Bank ' a Cleveland— First National Bank 4. Central National Bank 1 to 7 and 9. Mahoning National Bank Ito9. Engineers National Bank 1 to 9. Zanesyille— National City Bank 1 to 7 and 9. First National Bank 1,4, and 9. Columbus— Old Citizens National Bank Ito7and9. City-National Bank of Commerce 1 to 7 and 9. Commercial National Bank 1 to 7 and 9. PENNSYLVANIA Huntington National Bank 1 to 7 and 9. (See also District No. 3) Ohio National Bank _ 1 to 7 and 9. Coshocton— Brookville—Jefferson County Na- 1 to 9. Commercial National Bank 1 to 7 and 9. tional Bank. Coshocton National Bank 1 to 9. Brownsville—Second National Bank. Ito9. Dayton— Canonsburg—First National Bank... 1 to 9. City National Bank & Trust Co. 1 to 7 and 9. Ellwood City—First National Bank- Ito9. Merchants National Bank & 1 to 9. Erie— Trust Co. First National Bank Third National Bank & Trust 1 to 7 and 9. Second National Bank... , 1 to 9. Co. Ford City—First National Bank & Ito9. Winters National Bank & Trust Ito9. Trust Co. Co. Franklin—Lamberton National Bank 1 to 9. East Liverpool—First National Bank 1 to 7 and 9. Greensburg— Findlay—American-First National 1 to 7 and 9. First National Bank 1 to 9. Bank. Merchants & Farmers National Fostoria—Union National Bank 1 to 7 and 9. Bank. Greenville—Second National Bank... 1 to 7 and 9. Greenville- Hamilton- First National Bank 1 top. First National Bank & Trust 1 to 7 and 9. Greenville National Bank 1 to J. Co. Grove City- Second National Bank _ Ito9. First National Bank 1 to 9. Hillsboro—Merchants National Bank 1 to 7 and 9. Grove City National Bank Ito9. Lancaster—Fairfield National Bank.. 1 to 7 and 9. Knox—Clarion County National 1 to 9, Lebanon—Lebanon-Citizens National 1 to 7 and 9. Bank of Edenburg. Bank & Trust Co. McKeesport—First National Bank... I to 9. Lima—Old National City Bank 1 to 9. Meadville— Lorain—National Bank of Commerce. 1 to 7 and 9. Merchants National Bank.- Ito9. Mansfield—Citizens National Bank 1 to 4 and 9. New First National Bank Ito5,7to9. & Trust Co. Meyersdale—Citizens National Bank. 1 to 9. Marietta— Monessen— Citizens National Bank 1 to 7 and 9. First National Bank & Trust Co.. 1 to 9. First National Bank Ito7and9. Peoples National Bank & Trust Marion—National City Bank & 1 to 7 and 9. Co. Ito8. Trust Co. New Brighton—Union National Bank Ito9. Mount Vernon—The Knox National 1 to 7 and 9. New Castle- Bank. Citizens National Bank Newark—Park National Bank 1 to 7 and 9. First National Bank of Lawrence New Philadelphia—Citizens National 1 to 7 and 9. County. Bank. New Kensington—First National Norwood—Norwood National Bank.. 1 to 9. Bank. Painesville—Painesville National 1 to 7 and 9. Oakmont—First National Bank Bank. Oil City- Piqua— First National Bank Citizens National Bank & Trust 1 to 9. Oil City National Bank _ 1 to 9. Co. Pittsburgh- Piqua National Bank & Trust 1 to 7 and 9. Bank of Pittsburgh, N. A Co. Diamond National Bank Ito9. Portsmouth—First National Bank... 1 to 7 and 9. Duquesne National Bank lto& Ravenna—Second National Bank 1, 4, and 9. Exchange National Bank of Pitts- Ito9. St. Clairsville—First National Bank.. 1 to 7 and 9. burgh. Sandusky—Third National Exchange^ Ito9. Farmers' Deposit National Bank. 4and& Bank. First National Bank _ Ito9. Springfield- Forbes National Bank Ito®. First National Bank & Trust Co.. Ito9. Highland National Bank Ito9. Mad River National Bank Marine National Bank 4. 1 to 7 and 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
294 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 4—Continued DISTRICT NO. 5—Continued PENNSYLVANIA—continued M ARYLAND—con tinued Pittsburgh— C ontinued. Frederick- Mellon National Bank Ito9. Farmers & Mechanics National 1 to 4. Monongahela National Bank 4. Bank. National Bank of America at Ito9. Frederick County National Bank. Ito9. Pittsburgh. Hagerstown— Second National Bank of Alle- Ito9. First National Bank Ito9. gheny. Nicodemus National Bank. Ito9. Third National Bank Ito9. Second National Bank __ .. ._ _Ito9. Union National Bank 1 to 9. Hyattsville—First National Bank.... Ito4. Punxsutawney—Punxsutawney Na- Ito9. New Windsor—First National Bank. Ito4. tional Bank. Pocomoke City—Citizens National Ito9. c u ax on— Ito9. Rising Sun—National Bank of Rising Ito4. First National Bank McDowell National Bank__ 1 to 4. Sun. Merchants and Manufacturers Ito9. Rockville—Montgomery County Na- Ito3. National Bank. tional Bank. Tarentum—First National Bank & 1 to 9. Salisbury—Salisbury National Bank. 1 to 9. Trust Co. Snow Hill—First National Bank Ito9. Titusville—Second National Bank._. 1 to 9. Towson—Towson National Bank 1 to 9. Uniontown— Westminster- National Bank of Fayette 1 to 9. Fa B rm an e k rs . & Mechanics National Ito9. Se C co o n u d n t N y. ational Bank.. 1 to 9. First National Bank Ito9. Uniontown National Bank & 1 to 9. Trust Co. NORTH CAROLINA Vandergrift—Citizens National Bank- Ito9. Asheboro—First National Bank Ito9. Warren— Asheville— Citizens National Bank Ito9. American National Nank. Ito9. Warren National B ank _ _ 1 to 9. National Bank of Commerce 1 to 9. TWXTa sn C hVi i in* t n i »g z 4t e -o/N n n- s n— National Bank 1 to 3, 5 to Charlotte National Bank 1 to 9. 7, and 9. Commercial National Bank _ Ito9. Waynesburg—First National Bank 1 to 5, 7 to 9. First National Bank 1 to 9. & Trust Co. Merchants & Farmers National 1 to 9. Zelienople—Peoples National Bank... 1 to 4. Bank. Union National Bank 1 to 9. WEST VIRGINIA Concord—Concord National Bank... 1 to 9 Durham—First National Bank 1 to 9 (See also District No. 5) Elizabeth City—First & Citizens 1 to 9. Elm Grove—First National Bank 1 to 9. Fayetteville—Cumberland National 1 to 9. Sistersville—Union National Bank... 1 to 9. Bank. Wheeling- Gastonia—First National Bank. 1 to 9. National Bank of West Virginia- 1 to 9. Goldsboro—Wayne National Bank... 1 to 9. National Exchange Bank 1 to 9. Graham—National Bank of Ala- 1 to 9. mance. DISTRICT NO. 5 Greensboro—American National 1 to 9. Bank & Trust Co. DISTRICT OF COLUMBIA Hendersonville—Citizens National 1 to 9. Bank. Washington- High Point—Commercial National Ito9. Commercial National Bank ,. 1 to 8. Bank. District National Bank 1 to 8. Monroe—First National Bank _ 1 to 9. Federal-American National Bank Ito8. Mooresville—First National Bank__ 1 to 9. Franklin National Bank... _ Ito8. Mount Airy—First National Bank.. 1 to 9. Liberty National Bank 1 to 8. New Bern—National Bank of New Ito4. Lincoln National Bank- 1 to 8. Bern. National Bank of Washington,_. Ito8. Oxford- National Metropolitan Bank Ito8. First National Bank 1 to 4. Riggs National Bank__ 1 to 8. National Bank of Granville at Ito9. Second National Bank 1 to 8. Oxford. MARYLAND x"Rtaailoe C iicgr i Vi t i i l— zens National Bank. 1 to 9. Baltimore— Commercial National Bank Ito9. Drovers & Mechanics National Ito9. Reidsville—First National Bank.... 1 to 9. Fa B rm an e k rs . & Merchants National Ito9. xvOC F Ky ir s IV t L N Ou a D t X io — nal Bank 1 to 9. Bank. Planters National Bank. 1 to 9. First National Bank Ito9. Salisbury—First National Bank .... 1 to 9. National Bank of Baltimore Ito9. Snow Hill—National Bank of Snow 7. Western National Bank Ito9. Hill. Cumberland- Thomasville—First National Bank. Ito9. First National Bank lt0 9; Wadesboro—First National Bank... 1 to 9. Second National Bank Ito9. Wilmington—Murchison National Ito9. Denton—Denton National Bank Ito9, Bank. Easton—Easton National Bank Ito9. Winston-Salem—Farmers National 1 to 9. Elkton—National Bank of Elkton— 1 to 9. Bank & Trust Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 295 Powers Powers granted granted DISTRICT NO. ^-Continued DISTRICT NO. 5—Continued SOUTH CAROLINA VIRGINIA—continued Anderson—Carolina National Bank. Ito9. Lovingston—First National Bank of Ito9. Camden—First National Bank Ito9. Nelson County. Charleston- Lynchburg—Lynchburg National Ito9. Atlantic National Bank Ito9. Bank & Trust Co. Peoples First National Bank 1 to 9. Marion—Marion National Bank Ito9. South Carolina National Bank._. Ito9. Marshall—Marshall National Bank Ito9. Chester—Peoples National Bank Ito9. & Trust Co. Columbia- Martinsville— Columbia National Bank Ito9. First National Bank Ito9. National Loan & Exchange Bank. Ito9. Peoples National Bank 1 to 4. Elloree—First National Bank Ito9. Narrows—First National Bank Ito9. Gafmey—Merchants & Planters Na* Ito9. Newport News—First National Bank Ito9. Greenville- Norfolk National Bank of Com- Ito9. First National Bank Ito9. merce and Trusts. Peoples National Bank Ito4. Seaboard Citizens National Bank. Ito9. Woodside National Bank._ Ito9. Virginia National Bank. Ito9. Holly Hill—First National Bank 1 to 3, 5 to 9. Norton—First National Bank 1 to 9. Orangeburg— Orange—Citizens National bank lto&. Edisto National Bank Ito9. Petersburg- Orangeburg National Bank 1 to 3 and 5. National Bank of Petersburg Ito9. Rock Hill—National Union Bank Ito9. Virginia National Bank 1 to 9. Spartanburg— Phoebus—Old Point National Bank. Ito9. Central National Bank Ito9. Portsmouth- First National Bank Ito9. American National Bank 1. Springfield—First National Bank 5. First National Bank _ Ito9. Sumter— Pulaski— National Bank of South Carolina- Ito9. Peoples National Bank. _ 1 to 9. National Bank of Sumter.. _ Ito9. Pulaski National Bank Ito9. Radford—Farmers and Merchants 1 to 9. VIRGINIA National Bank. Richmond- Abingdon—First National Bank Ito9. Central National Bank Ito9. Alexandria- First & Merchants National 1 to 9. Alexandria National Bank Ito9. Bank. Citizens National Bank Ito9. Roanoke— First National Bank 1 to 9. American National Bank 1 to 9. Appalachia—First National Bank 1. Colonial National Bank _. Ito9. Bedford—Peoples National Bank Ito9. First National Exchange Bank... Ito9. Blackstone—First National Bank 1 to 9. Rocky Mount—Peoples National Ito9. Bristol—Dominion National Bank... Ito9. Bank. •Charlottesville— Salem—Farmers National Bank. Ito9. National Bank & Trust Co. at Ito9. South Boston- Charlottesville. Boston National Bank _. Ito9. Peoples National Bank.._._ __ __Ito9. Planters & Merchants First Ito9. Chase City—First National Bank 1 to 9. National Bank. Chatham—First National Bank Ito3, Staunton— Clifton Forge- Augusta National Bank Ito9. Clifton Forge National Bank 1 to 9. National Valley Bank. 1 to 9 First National Bank 1 to 6 and 9. Staunton National Bank & Trust. Ito9. Covington— Co. Citizens National Bank Ito9. Strasburg— Covington National Bank__ 1 to 4. First National Bank Ito9. <3rewe—First National Bank Ito9. Massanutten National Bank 1 to 9. Danville— Suffolk—National Bank of Suffolk... 1 to 9. American National Bank__ Ito9. Warrenton—Fauquier National Ito9. First National Bank Ito9. Bank. Emporia— Waynesboro—First National Bank... 1 to 9. Citizens National Bank Ito9. Winchester- First National Bank Ito9. Farmers & Merchants National 1 to 9. Fairfax—National Bank of Fairfax... Ito9. Bank & Trust Co. Farmville— Shenandoah Valley National Ito9. First National Bank Ito9. Bank. Peoples National Bank Ito9. Fredericksburg—Planters National Ito9. WEST VIRGINIA Ha B m a p n t k o . n—Merchants National Ito9. (See also District No. 4) Bank. Beckley—Beckley National Bank 1 to 9. Harrisonburg— Bluefield— First National Bank Ito9. First National Bank Ito9. National Bank of Harrisonburg- _ Ito9. Flat Top National Bank Ito9. Rockingham National Bank 1 to 9. Charleston— Leesburg— Charleston National Bank Ito9. Loudoun National Bank. _ _ Ito9. Citizens National Bank 1 to 9. Peoples National Bank Ito9. Kanawha National Bank 1 to 9. Xexington— Clarksburg- First National Bank Ito9. Empire National Bank 1 to 9. Peoples National Bank 1 to 9. Merchants National Bank 1 to 9. Rockbridge National Bank 1 to 9. Union National Bank 1 toO. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
296 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. ^-Continued DISTRICT NO. 6—Continued WEST VIRGINIA—continued ALABAMA—continued Fairmont—National Bank of Fair- 1 to 9. Tuscaloosa— mont. City National Bank 1 to 8 Fairview—First National Bank 1 to 4. First National Bank 1 toS. Graf ton—First National Bank 1 to 9. Wetumpka—First National Bank 1 to 9. Huntington—First Huntington Na- Ito9. tional Bank. FLORIDA Madison—Madison National Bank__ 1 to 4. Martinsburg—Old National Bank.... Ito9. Bartow—Polk County National Bank 1 to 9. Morgan town—Second National 1 to 9. Bradentown—First National Bank... 1 to 4. Bank. Brooksville—First National Bank 1 to 8. Parkersburg— Daytona Beach—First National Bank 1 to 9. First National Bank 1 to 9. De Funiak Springs—First National 1 to 8. Parkersburg National Bank 1 to 9. Bank. St. Marys—First National Bank 1 to 9. Deland—First National Bank Ito9. Welch- Fort Myers—First National Bank 1 to 9. First National Bank 1 to 9. Jacksonville— McDowell County National 1 to 9. Atlantic National Bank Ito9. Bank. Barnett National Bank 1 to 9. Williamson— Florida National Bank _. 1 to 9. First National Bank 1 to 9. Lake City—First National Bank 1 to 9. National Bank of Commerce 1 to 9. Miami- City National Bank in Miami.... 1 to 9. DISTRICT NO. 6 First National Bank 1 to 9. Miami Beach—Miami Beach First 1 to 9. ALABAMA National Bank. Ocala—Munroe & Chambliss Na- 1 to 9. Albertville—Albertville National 1 to 9. tional Bank. Bank. Orlando—First National Bank & Ito9. Anniston— Trust Co. Anniston National Bank. 1 to 7, and 9. Palatka—Putnam National Bank 1 to 9. Commercial National Bank 1 to 5, 7 Panama City—First National Bank _ 4. and 9. Pensacola—Citizens & Peoples Na- 1 to 9. First National Bank 1 to 8. tional Bank. Bessemer— Perry—First National Bank 1 to 9. City National Bank 2. St. Augustine- First National Bank in Bessemer- 1 to 8. First National Bank 1 to 9. Birmingham— St. Augustine National Bank 1 to 9. American-Traders National 1 to 9. St. Petersburg- Bank. Central National Bank & Trust 1 to 9. First National Bank 1 to 9. Co. Cullman—Leeth National Bank 1 to 4. First National Bank 1 to 9. Decatur— Sanford— Central National Bank. _ 1. First National Bank 1 to 9. Morgan County National Bank.. 1,2, 3, and 5. Sanford Atlantic National Bank.. 1 to 9. Doth H F a i o n r u s — t s t N on a ti N o a n t a i l o n B a a l n B k a . n .. k__ 1 1 t t o o 8 9 . . X alli EF p i a xr — csht aNnagtei oNnaatli oBnaanlk B ank 1 1 t t o o 9 8 . . Fayette—First National Bank _ 1 to 9. Winter Haven—Snell National Bank. 1 to 3, 5 to 7 Florence—First National Bank 1 to 8. Fort Payne—First National Bank.__ 1. GEORGIA Gadsden— First National Bank 1 to 3. Athens—National Bank of Athens... 1 to 4. Gadsden National Bank 1 to 8. Atlanta- Greenville—First National Bank 1 to 3, and 5. Atlanta and Lowry National 1 to 8. Mobile— First National Bank. 1 to 9 Fourth National Bank Ito9. Merchants National Bank 1 to 9. Fulton National Bank _. 1 to 9. Mobile National Bank Ito9. Augusta—National Exchange Bank.. 1 to 9. Montgomery- Barnesville—First National Bank Ito8. Alabama National Bank... 1 to 9. Brunswick—National Bank of 1 to 9. First National Bank 1 to 9. Brunswick. Fourth National Bank 1 to 9. Carrollton—First National Bank Ito9. Oneonto—First National Bank 1 to 3, 5 to 9. Cartersville—First National Bank.. Ito9. Opelika— Columbus— Farmers National Bank 1 to 9. First National Bank Ito9. First National Bank _ 1 to 7. Fourth National Bank 1 to 9. Opp—First National Bank 1 to 9. Dalton—First National Bank.._ 1 to 5. Oxford—First National Bank 1 to 8. Dawson—Dawson National Bank 1 to 3, 5 to 9 Piedmont—First National Bank ... 1 to 3. Elberton—First National B ank 1 to 9. Selma—City National Bank 1 to 8. Fitzgerald- Sylacauga—Merchants & Planters 1 to 9. Exchange National Bank Ito4. National Bank. First National Bank 1 to 4, 6, 7 i anaaega— and 9. Isbell National Bank 1 to 3, 5 to La Grange—La Grange National Ito8. 7/, annnorl. yQ, Talladega National Bank 1 to 9. Louisville—First National Bank 1 to 9. Troy- Quitman—First National Bank Ito8. Farmers and Merchants Na- 1 to 7 and 9. Rome—National City Bank Ito9. tional Bank. Savannah—Citizens & Southern Na- Ito9. First National Bank 1. tional Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 297 Powers Powers granted granted DISTRICT NO. 6—Continued DISTRICT NO. 6—Continued GEORGIA—continued TENNESSEE—continued Statesboro—First National Bank Ito9. Nashville— Thomasville—First National Bank... Ito9. American National Bank Ito9. Winder—Winder National Bank Ito9. Broadway National Bank 1 to 7 and 9. Fourth & First National Bank... 1 to 9. LOUISIANA Tennessee-Hermitage National Ito4, Bank. (See also District No. 11) Third National Bank _ Ito9. Shelbyville—Peoples National Bank. 1 to 3, 5 to 9. Hammond—Citizens National Bank- Ito9. South Pittsburg—First National Ito9. La Fayette— First National Bank Ito9. Springfield—First National Bank 2, 3, 5 to 7, Commercial National Bank. Ito9. and 9. Lake Charles— Tullahoma—Traders National Bank. Ito9. Calcasieu National Bank of Ito9. Winchester—Farmers National Bank. 1 to 3, 5 to 9 Southwest Louisiana. First National Bank Ito9. DISTRICT NO. 7 New Orleans—W^hitney-Central Na- Ito9. tional Bank. ILLINOIS (See also District No. 8) MISSISSIPPI Amboy—First National Bank Ito9. (See also District No. 8) Aurora— American National Bank Ito9. Biloxi—First National Bank 1 to 5. Aurora National Bank.. Ito9. Canton—First National Bank Ito4. First National Bank Ito9. Gulfport— Merchants National Bank 1 to 9. First National Bank _ Ito8. Old Second National Bank Ito9. National Bank of Gulfport __1 to 9. Batavia— Hattiesburg—Commercial National Ito9. Batavia National Bank Ito9. Bank. First National Bank Ito8. Jackson- Belvidere— Capital National Bank Ito9. First National Bank Ito8. First National Bank Ito9. Second National Bank __ Ito4. Jackson State National Bank 1 to 7 and 9. Berwyn—First National Bank Ito9. Laurel- Blue Island—First National Bank... Ito9. Commercial National Bank & Ito9. Bushnell—First National Bank 1 to 9. Trust Co. Cambridge—Farmers National Bank Ito9. First National Bank _ Ito9. Canton- McComb City—First National Bank. 1, 2, and 3. Canton National Bank Ito9. Meridian- First National Bank. _ 1 to 8. Citizens National Bank Ito9. Casey—First National Bank.. Ito4. First National Bank Ito8. Charleston— Natchez—Britton & Koontz Na- 1, 6, and 7. National Trust Bank- Ito9. tional Bank. First National Bank Ito9. Vicksburg— Chicago— Merchants National Bank & Ito9. Albany Park National Bank & 1 to 9. Trust Co. Trust Co. National City Savings Bank & Ito9. Austin National B ank 1 to 9. Trust Co. Calumet National Bank Ito9. Yazoo City—Delta National Bank... Ito9. Continental National Bank & Ito9. TENNESSEE First National Bank of Engle- Ito4. wood. (See also District No. 8) Guardian National Bank. Ito9. Hyde Park National Bank 1 to 9. Bristol—First National Bank Ito9. Irving Park National Bank Ito9. Chattanooga— Jackson Park National Bank Ito9. First National Bank Ito9. Jefferson Park National Bank Ito9. Hamilton National Bank Ito9. Lawndale National Bank Ito9. Clarksville—First National Bank 1. Mutual National Bank Ito9. Copperhill—First National Bank of 1 to 3, 5 to 8. National Band of the Republic... 1 to 9. Polk County. National Builders Bank Ito9. Dickson—Citizen National Bank Ito8. Portage Park National Bank Ito9. Fayetteville— Roseland National Bank 1 to 9. Elk National Bank 1 to 3 and 5. Straus National Bank & Trust Ito9. First National Bank 1 to 3, 5 to 9. Co. Gallatin—First <fe Peoples National Ito9. Washington Park National Bank. Ito9. Bank. Chicago Heights—First National Ito9. Greenville—First National Bank Ito9. Bank. Harriman—Harriman National Bank. Ito9. Chillicothe—First National Bank Ito9. Johnson City—Tennessee National Ito9. Danville- Bank. First National Bank _ Ito9. Kingsport—First National Bank 1 to 7 and 9. Palmer National Bank 1 to 9. Knoxville— Second National Bank Ito8. City National Bank 1, 4. and 9. Decatur— East Tennessee National Bank... Ito9. Citizens National Bank Ito9. Holston-Union National Bank,._ Ito9. Milliken National Bank 1 to 4. McMinnville — Peoples National 1 to 3, 5 to 8. National Bank of Decatur Ito9. Bank. Dixon—Dixon National Bank Ito9. Morristown—First National Bank... 1. Elmhurst—First National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
298 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 7-Continued DISTRICT NO. 7—Continued ILLINOIS—continued INDIANA—continued El Paso— Brookville— First National Bank Ito9. Franklin County National Bank. Ito4. Woodford County National 1 to 9. National Brookville Bank Ito9. Bank. Cambridge City—First National 1 to 8. Evanston—City National Bank & Ito9. Bank & Trust Co. Trust Co. Clay City—First National Bank Ito9. Freeport— Clinton—First National Bank 1 to 9. First National Bank Ito9. Cloverdale—First National Bank Ito9. Second National Bank Ito9. Columbus—First National Bank 1 to 9. Galesburg—First Galesburg National 1 to 9. Connersville—First National Bank.. Ito9. Bank & Trust Co. Crawfordsville— Havana—Havana National Bank Ito9. Citizens National Bank 1 to 4. Henry—First National Bank Ito7. First National Bank Ito9. Joliet— Dana—First National Bank 1 to 3. First National Bank Ito9. Delphi—Citizens National Bank 1 to 9. Joliet National Bank Ito9. Dublin—First National Bank Ito3. Will County National Bank 1 to 9. Dyer—First National Bank Ito4. Kankakee—City National Bank . 1 to 4. East Chicago- Kewanee—First National Bank 1 to 9. First National Bank & Trust Co_ Ito9. Knoxville—Farmers National Bank.. Ito9. Indiana Harbor National Bank.. Ito9. Lake Forest—First National Bank... Ito9. United States National Bank 1 to 9. La Salle—La Salle National Bank Ito9. Edinburg—Farmers National Bank.. 1 to 4. Libertyville— Elkhart—First National Bank 1 to 9. First National Bank 1 to 9. Elwood—First National Bank. Ito8. Lake County National Bank Ito9. Fort Wayne- Lincoln—Lincoln National Bank 1 to 9. First National Bank ._ 1 to 9. Macomb—Union National Bank Ito9. Lincoln National Bank & Trust Ito9. Marengo—First National Bank 1 to 9. Co. Marseilles—First National Bank Ito4s Old National Bank... Ito9. Mattoon—National Bank of Mattoon Ito9. Franklin- Monticello—First National Bank Ito9. Citizens National Bank.. Ito8. Naperville—First National Bank Ito9. Franklin National Bank 1 to 4. Ottawa— Gary— First National Bank Ito9. First National Bank Ito9. National City Bank 1 to 9. National Bank of America Ito9. Paris—First National Bank & Trust Ito9. Goodland—First National Bank 1 to 3, 5 to 9. Co. Goshen—City National Bank- Ito9. Pekin—American National Bank Ito9. Greencastle—First National Bank Ito9. Peoria— Greensburg—Third National Bank Ito9. Central National Bank & Trust Ito9. & Trust Co. Co. Hammond—Hammond National Ito9. Commercial National Bank Ito8. Bank & Trust Co. First National Bank Ito9. Hartford City—First National Bank. 1 to 9. Merchants & Illinois National Ito9. Huntington—First National Bank Ito9. Indianapolis— Peru—Peru National B ank _ Ito9. Continental National Bank 1 to 9. Pontiac—National Bank of Pontiac. Ito9. Fletcher American National Bank 1 to 7 and 9 Princeton—Citizens National Bank.. 1 to 3, 5 to 8. Indiana National Bank Ito9. Riverside—First National Bank Ito9. Knightstown—Citizens National 1 to 3, 5 to 7, Rockford— Bank. and 9. Commercial National Bank Ito9. Kokomo— Forest City National Bank 1 to 9. Citizens National Bank Ito9. Manufacturers National Bank & 1 to 9. Howard National Bank Ito9. Trust Co. La Fayette— Rockford National Bank Ito4. First-Merchants National Bank.. Ito8. Security National Bank _. Ito9. National Fowler Bank Ito8. Swedish-American National Bank Ito9. La Porte—First National Bank & Ito9. Third National Bank Ito8. Trust Co. Savanna—First National Bank 1 to 8. Lebanon—First National Bank Ito9. Springfield—Illinois National Bank.. Ito9. Liberty—Union County National Ito3. Sterling—Sterling National Bank Ito9. Bank. Sycamore—First National Bank. Ito9. Logansport— Taylorville—First National Bank 1 to 9. City National Bank Ito8. Waukegan— First National Bank Ito8. First National Bank 1 to 9. Lowell- Waukegan National Bank.. Ito9. First National Bank in Lowell... Ito7. Wilmette—First National Bank 1 to 9. Lowell National Bank Ito8. Woodstock—American National Ito9. Marion- Bank. First National Bank Ito9. INDIANA Marion National Bank Ito9. Martinsville— (See also District No. 8) Citizens National Bank Ito9. First National Bank Ito7. Attica—Central National Bank _ 1 to 9. Michigan City- Auburn—City National Bank Ito9. First National Bank Ito9. Batesville—First National Bank Ito9. Merchants National Bank Ito9. Bloomington—First National Bank.. 1 to 7 and 9. Mishawaka—First National Bank Ito9. Brazil- Monrovia—First National Bank Ito4. Citizens National Bank Ito7. Monterey—First National Bank 1 to 3, 5 to 9 First National Bank Ito4. Montezuma—First National Bank... Ito8. Riddell National Bank Ito9. Montpelier—First National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIAKY POWERS 299 Powers Powers granted granted DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued INDIANA—continued IOWA—continued M M B u u n l a b c n e i k e rr — . y— De C la it w iz a e r n e s C N o a u ti n o t n y a N l a B ti a o n n k al .. 1 1 t t o o 9 9 . . D D De e a c v s o e M r n a p h o o — i r n t e — N s— a F ti i D o rs n e t a s l N M B at a o i n o in k n e a o s l f B N D a a e n t c i k o o n ra a h l . 1 I I t t t o o o 8 9 9 . . . New Carlisle—First National Bank.. Ito3. Bank. New Castle—Farmers & First Na- Ito9. Dubuque— P P P l e l t a M y r i i o u m n a n — f o r i a s e u l F h l t d a i B h r — l — s a l t n F C F N k i o i r . a r s u s t t i n t o N t n y N a a . a t l i t o B io n a n a n a l k l B B an a k nk of 1 I 1 t a o to n 9 d 9 . . 4. D El y d s o F C a n r i o — t r — n st s F o D N i l r i y s a d t s t a i a N t o r e n t d a a t N i l N o a B n a ti a t a o i l n o n k n B a a l a l n B B k a a n n k k I I I I t t t t o o o o 9 9 9 9 . . . . R Re ic m h i m ng o to n n d — - Farmers National Bank. 1 to 3, 5 to 8.E E l l d k o ad ra e — r— F F ir i s r t s t N N at a i t o io n n a a l l B B an an k k I I t t o o 9 9 . . First National Bank ._ Ito9. Everly—First National Bank... 1 to 7. Second National B ank ltoQ. Fairfield—First National Bank Ito8. Ri S si u n n g . Sun—National Bank of Rising 1 to 9. F F o o n n d ta a n — ell F e i — rst F N irs a t t io N n a a t l io B na a l n B k. a . n .. k 1 It o to 9 4 . . Rochester—First National Bank 1 to 5, 7, and Fo B rt a n D k. odge—Fort Dodge National Ito8. R R u o s c h k v v i i l l l l e e — —Rockville National Bank. It 9 o . 9. G G l r a a d e b tt r i o n o g k er — — F F ir i s rs t t N N a a ti t o io n n a a l l B B a a n n k k I 1 t o to 3 . 9. American National Bank Ito9. Grinnell—Citizens National Bank Ito9. Russ R R ia u u v s s i h h ll v e C i — ll o e u F N n ir t s a y t t i N N on a a a t t i i l o o B n n a a a l l n B B k. a a n n k k 1 1 1 t t t o o o 4 3 4 . , . 5 to 9. H H G a a ri m r s l w a p n o t — o ld n — — Ha G C rl r i a i t s i n w z e N o n l a s d t i N N o a n a t a t i i l o o n B n a a a l l n B k B a a n n k k . . . . 1 I I t t t o o o 8 9 7 . . and 9. Shelbyville— Hawarden—First National Bank, 1,2,3, 5 to 8. Farmers National Bank Ito9. Humboldt—First National Bank Ito4. First National Banki Ito9. Indianola—First National Bank Ito3. South Bend- Jewell Junction—First National Bank 1 to 9. First National Bank Ito4. Kanawha— First National Bank 1 to 3. Merchants National Bank 1 to 9. Keokuk—Keokuk National Bank 1 to 9. Swayzee—First National Bank Ito9. Knoxville—Knoxville National Bank 1 to 9. Terre Haute— & Trust Co. Citizens National Bank & Trust Ito9. LeMars—First National Bank 1 to 3, 5 to 9 Co. Linn Grove—First National Bank... 1 to 9. First-McKeen National Bank & Ito9. Manchester—First National Bank... Ito4. Mason City—First National Bank... 1 to 9. Trust Co. Montezuma—First National Bank... Ito4. T T W h i t p a o i t o b r T o n n a n e s a t T — o r h l r r w — e u B C n s a F i H — t t n a i C a z k r H e m u o . n t o . e e s m r s N N e a a & N t t i i a o o t W n n io a a a n l l b a B a l B a s B a n h n a k k n N k & a _ - _ I 1 I I t t t t o o o o 7 9 9 8 . . . . N M O O O e e r d u a w l e w s n b c e g e o a l e i l l t n — t i — n — C e F i — t F F i y r i i — s r r F s t s i t t O N r s N N r a t a a a t N n i t t o i g i a o o n e t n n a i o a a l C l l n B i a t B B y a l a a n B N n n k k a k a . n . ti k onal 1 I 1 I I t t t t t o o o o o 7 9 9 9 4 . . . . . Westport—First National Bank Ito9. Bank. Whiteland—Whiteland National Ito4. Oskaloosa—Oskaloosa National Bank 1 to 3. Bank. Ottumwa—First National Bank Ito9. Whiting—First National Bank 1 to 7. Paullina—First National Bank 1 to 7 and 9. Wilkinson—Farmers National Bank. 1 to 3. Perry—First National Bank _ Ito9. Winamac—First National Bank Ito8. Peterson—First National Bank 1 to 4. Red Oak—First National Bank Ito9. Remsen—First National Bank Ito8. IOWA Rippey—First National Bank 1,2,3, 5 to 8. Akron—First National Bank... 1 to 9. Rockwell City—Rockwell City Na- Ito9. Arlington—American National Bank. 1 to 3. tional Bank. Aurelia—First National Bank 1 to 9. Ruthven—First National Bank Ito8. Boone—First National Bank 1 to 7 and 9. Sheffield—First National Bank 1 to 9. Buffalo Center—First National Bank. 1 to 9. Sibley—First National Bank 1 to 3. Burlington—Merchants National 1 to 9. Sidney—National Bank of Sidney 1 to 9. Bank. Sioux City- Cedar Falls—Cedar Falls National 1 to 7 and 9. First National Bank Ito9. Bank. Live Stock National Bank 1 to 9. Cedar Rapids- Security National Bank 1 to 9. Cedar Rapids National Bank 1 to 9. Sioux National Bank Ito9. Merchants National Bank _. 1 to 4. Toy National Bank.. Ito9. Charles City- Sioux Rapids—First National Bank._ Ito3. Citizens National Bank. Ito9. Stanton—First National Bank Ito8. Commercial National Bank 1 to 9. Storm Lake—Citizens First National Ito9. Charter Oak—First National Bank.. 1,2,3, and 5. Bank. 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 Ito9. Washington—Washington National Ito8. Merchants National Bank 1 to5. Bank. Colfax— First National Bank... 1 to 3,5 to 9. Waterloo- Columbus Junction—Louisa County 1,2,3, and 5. Commercial National Bank Ito9. National Bank. First National Bank Ito7. Coon Rapids—First National Bank.. Ito3. Pioneer National Bank Ito9. Council Bluffs- Waverly—First National Bank... 1 to 4. City National Bank 1 to 8. Webster City- First National Bank.._ 1 to 9. Farmers National Bank— Ito4. Cresco—First National Bank 1 to 9. First National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
300 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 7-Continued DISTRICT NO. 7—Continued MICHIGAN WISCONSIN—continued (See also District No. 9) Kenosha—United States National 1 to 9. Alpena—Alpena National Bank 2,3,5, and 8. J"ROQdTllIiIv^ OXT£ T -LrrnilcbtL C V^_r/O\. Ito9. Lake Geneva—First National Bank- Ann Arbor—First National Bank Ito9. Madison—Commercial National Ito9. Battle Creek- Bank. Central National Bank 1 to 9. Manitowoc—First National Bank in 1 to 9. City National Bank & Trust Co. Ito8. Manitowoc. Old National Bank & Trust Co.. 1 to 9. Marinette—First National Bank Ito9. Bay City—First National Bank 1 to 9. Marshfield—American National Ito9. Benton Harbor- Bank. American National Bank & Trust Ito9. Milwaukee- Co. Marine National Bank 1 to 9. Farmers & Merchants National Ito9. National Bank of Commerce 1 to 9. Bank & Trust Co. National Exchange Bank 1 to 9. Birmingham—First National Bank,. 1 to 5. Monroe—First National Bank.. Ito9. Boyne City—First National Bank.-. 1 to 3. Neenah—National Manufacturers 1 to 3. 0 old water—— Bank. Coldwater National Bank 2,3,5, and 8. Neillsville—First National Bank 1 to 9. Southern Michigan National 1 to 9. Oconomowoc—First National Bank.. 1 to 9. Bank. Oshkosh—City National Bank. Ito9. Detroit- Platteville—First National Bank 1 to 9. National Bank of Commerce 1 to 8. Racine— Merchants National Bank Ito9. First National Bank __ 1 to 9. Flint—First National Bank 1 to 9. Manufacturers' National Bank & 1 to 9. Grand Rapids- Trust Co. Grand Eapids National Bank Ito9. Ripon— Old National Bank Ito9. American National Bank ,. Ito9. Hillsdale—First National Bank 1 to 4. First National Bank 1 to 9. Ionia—National Bank of Ionia Ito9. Shawano—Wisconsin National Bank. Ito8. Jackson- Sheboygan—Security National Bank- 1 to 9. National Union Bank & Trust Ito9. Sparta—Farmers National Bank 1 to 9. Pe L o > p 0 l . es National Bank Ito9. oLfc5V C cX it lo i z x e n O s lX N lL— ational Bank Ito9. Kalamazoo— First National Bank... Ito8. First National Bank & Trust Co. Ito9. Viroqua—First National Bank. Ito9. Kalamazoo National Bank & Ito9. Waukesha— Trust Co. National Exchange Bank 1 to 4. Lansing— Waukesha National Bank, 1 to 8. Capital National Bank 1 to 4. Wausau— City National Bank _ 1 to 9. American National Bank Ito9. Lapeer—First National Bank 2,3,5, and 8. First National Bank... Ito9. Ludington—First National Bank 2,3,5, and 8. West Bend—First National Bank 1 to 9. Monroe—First National Bank 1 to 9. Wisconsin Rapids—First National 1 to 9. Muskegon— Bank. Hackley National Bank 1 to 7 and 9. Union National Bank Ito9. DISTRICT NO. 8 Petoskey—First National Bank 1 to 4. Pontiac—First National Bank & Ito9. ARKANSAS Trust Co. Port Huron—First National Bank & 1 to 9. Batesville—First National Bank 1 to 7 and 9. Trust Co. Bentonville—First National Bank... 1 to 9. Quincy—First National Bank _ 2,3,5, and 8. Corning—First National Bank.. 1 to 9. Rochester—First National Bank Ito4. El Dorado—First National Bank 1 to 9. St. Johns—St. Johns National Bank.. 2,3,5, and 8. Fayetteville—First National Bank... 1 to 9. St. Joseph—Commercial National Ito9. Fordyce— First National Bank Ito9. T S U a r n B a g i v i a o n e n n a r k w s . e C — i C t S y i e t — y co — U nd n F i i o N r n s a t t N i C o a i n t t a y i l o n B N a a l a n t B k io a n n a k l - I 2 It t ,3 o o , 3 8 5 , . , a a n n d d 5 8 . . T^nrt F C M S i i r e tm s y r t c i tN h N h a a a n t t i t i o s o n n N a a l a l t B i B o a a n n n a k k l . Bank 1 1 I t t t o o o 9 9 9 . . . Bank. Hot Springs—Arkansas National Ito9. WISCONSIN Bank. Lake Village—First National Bank... Ito9. (See also District No. 9) Little Rock—Exchange National 1 to 9. Bank Antigo— Marianna—Lee County National 1 to 9. First National Bank _. 1 to 8. Bank. Langlade National Bank 1 to 3,5 to 8. Newport—First National Bank 1 to 8. Appleton—Citizens National Bank... 1 to 9. Paris—First National Bank 1 to 9. Baraboo—First National Bank Ito9. Pine Bluff- Beaver Dam—Old National Bank 1 to 9. National Bank of Arkansas 1 to 9. Brillion—First National Bank _. 1 to 8. Simmons National Bank.. 1 to 9. Chilton—Chilton National Bank 1 to 9. Texarkana—State National Bank 1 to 9. Clintonville—First National Bank... 1 to 4. Van Buren—First National Bank 1 to 9. Darlington—First National Bank 1 to 8. Edgarton—First National Bank Ito8. ILLINOIS Fond du Lac- Commercial National Bank Ito8. (See also District No. 7) First Fond du Lac National Bank 1 to 8. Gr t e io e n n a l B B a a y n — k. Kellogg Citizens Na- Ito9. Alto A n lt - on National Bank 1 to 9. Hartford—First National Bank 1 to 7 and 9. Citizens National Bank Ito9. Digitized foJra FneRsAviSlleE—RF irst National Bank Ito9. Anna—First National Bank 1 to 9. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIAKY POWERS 301 Powers Powers granted granted DISTRICT NO. 8—Continued DISTRICT NO. 8—Continued ILLINOIS—continued INDIANA—continued Belleville- Vevay—First National Bank 1 to 9. First National Bank... 1 to 9. Vincennes— St. Clair National Bank 1 to 9. A merican National Bank Ito9. Benld—First National Bank of Benld. 1 to 3,5 to 8. First National Bank 1 to 9. Breese—First National Bank Ito9. Wadesville—Farmers National Bank. 1 to 9. Bridgeport—First National Bank 1 to 9. Washington— Bunker Hill—First National Bank... Ito9. Peoples National Bank & Trust Cairo—Cairo National Bank.. 1 to 9. Co 1 to 9. Carlinville—Carlinville National Ito9. Washington National Bank 1 to 9. Bank. Carlyle—First National Bank 1 to 9. KENTUCKY Car mi—National Bank of Carmi Ito9. (See also District No. 4) Centralia—Old National Bank 1 to 9. Bowling Green—American National 1 and 4. Ed wards ville—Ed wards ville Na 1, 2, 3, 5, 6, 7, Bank. tional Bank. and 9. Clay—Farmers National Bank 1 to 9. Effingham—First National Bank 1 to 9. Columbia—First National Bank & 1 to 3, 5 to 8. Highland—First National Bank Ito9. Trust Co. Jacksonville—Ayers National Bank.. 1 to 4. Danville— Lawrence ville—First National Bank. 1 to 9. Citizens National Bank 1 to 9. • L M M M M M e i a a o b e l r s u l a t i s c r o n n t o o a n t o p u d — n o t C t — a l — i a h F s r — F i — m F r i s i r e F t r C s l s i t — N i t r t s N y a N t A t a N i N a m t o t i a a i o n e o t t r n a i i n i o l o a c a n l n a B l n a a B a B l l n a N a B B k n n a a k a k t n n i k k onal 1 I 1 I 1 I t t t t t t o o o o o o 9 9 9 4 9 9 . . . . . . E Fr li a z n a U F F k b i a f n r e o r i s t m o r h t t - n t — e H o r N w s a S r a n t N d a t — i i t a o n e t n io N N a n l a a a B t t l i i o a o B n n n k a a a — n l l k B B a a n n k k _. 1 1 1 1 t t t a t o o o o n 8 9 9 d 3 . . . , 9 5 . ,6,8, Bank. Glasgow—Farmers National Bank... 1 to 5. Mount Sterling—First National Bank 1 to 4. Harrodsburg— Murphysboro—First National Bank. 1 to 8. First National Bank 1 to 9. Nashville— Mercer National Bank 1 to 8. Farmers & Merchants National Ito9. Henderson—Henderson National Ito9. Bank. Bank. First National Bank Ito9. Hopkinsville—First National Bank.. 1 to 9. N okomis—Nokomis National Bank.. 1 to 3. Lawrenceburg— O Q Pi u ' t F t i s a n f l c i l y e o l — n d — — Q F u F i i i r n r s s c t t y - N N R a a i t c t i i k o o e n n r a a l l B B N a a a n n t k k ional 1 1 1 t t t o o o 9 9 9 . . . Leba A L n a n o w d n e — r r e s n o c n e b N u a rg ti o N n a a t l i o B n a a n l k B ank 1 1 t t o o 8 3 . , 5 to 9. Bank & Trust Co. Citizens National Bank 1 to 9. Sparta—First National Bank.. 1 to 3, 5 to 7. Marion National Bank.. 1 to 6. Vandalia—First National Bank 1 to 8. Louisville— Citizens Union National Bank... 1 to 9. INDIANA First National B ank 1 to 9. Louisville National Bank & 1 to 9. (See also District No. 7) Trust Co. B B B i r e c o d k w f n o n r e d s ll — t — ow B F n e i — d rs f t o F r N i d r a st N t io N a n t a i a o t l i n o B a n l a a n B l k a B n a k nk.. 1 1 1 t t t a o o o n 3 d 3 9 , , . 9 5 5 . t t o o 7 9 , . M M M B o a a y r d a N g f i n l a s a e k o n t l . f n d i i o v — e n l i d l a F l — l e i — r B s M t a F o n N a r k r g a m a o t n i e f o f r i K n s e a l e d l N n B tu a a N c t n k a i k o y t i o n n a a l l I 1 1 1 t t t o t o o o 9 4 9 . 9 . . . Cannelton—Cannelton National 1 to 3,5 to 8. Bank. Bank. Murray—First National Bank l"to"9. E F v o a rt n N O s B a l v d r t i a i l o l N n e n c — a a h t l i — o C n F i a t a l y r m B B a e a n r n s k k & Me _ rchants 1 1 It t t o o o 9 9 9 . . . P O a w T d r e u C u n c s i s a t t b h y o — C r N o o a — . ti F on ir a s l t B N a a n ti k o nal Bank & 1 1 t t o o 9 9 . . J M L M e i f N i n a f t d e t c a o r i h t s s n i e o o o — l n n n l— v — a F i l l i F l F r e B s i i — r t r a s s n t N t F k N i a N . r t s a i a t o t t i i n o N o a n n l a a a t B l i l o B a B n n a a a n k l n k . k B . ank.. 1 I 1 1 t t t t o o o o 5 9 7 9 . . . . Princ F F F P e e a i i t r r o r o s s m p n t t l — e e N N r s s a a N t t N i i o o a a n n ti t a a o io l l n n B B a a l a a l B n n B k k a a n n k k 1 1 1 1 t t t t o o o o 3 9 9 9 , . . . 5 to 9. Mount Vernon— Mount Vernon National Bank & Ito9. MISSISSIPPI Ol T d r u F s ir t s C t o N . ational Bank Ito8. (See also District No. 6) New Albany—New Albany National 1 to 9. Columbus— Bank. Columbus National Bank 1 to 9. Orleans—National Bank of Orleans. _ 1. First National Bank 1 to 9. Petersburg—First National Bank 2, 3, and 5. Greenville—First National Bank 1 to 4. Posey ville—Bozeman Waters Na- 1, 3, 5, 6, 8, Greenwood—The First National 1,2, 3, 5 to 8. tional Bank. and 9. Bank. Princeton- MISSOURI Farmers National Bank __. 1, 2, 3, 5, 6, 7, (See also District No. 10) and 9. Peoples American National Bank. 1 to 8. Boonville—Boon ville National Bank. 1 to 9. Rockport—First National Bank 1 to 9. Carrollton—First National Bank 1 to 8. •Seymour— Chillicothe—First National Bank 1 to 9. First National Bank... _ 1 to 9. Columbia— Seymour National Bank 1 to 9. Boone County National Bank 1 to 9. Sullivan—Peoples National Bank & Exchange National Bank 1 to 4. Trust Co 1 to 9. Hannibal—Hannibal National Bank. 1 to 9. Tell City- Jefferson City— Citizens National Bank 1 to 4. Exchange National Bank 1 to 9. Tell City National Bank | 1 to 9. First National Bank | 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
302 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 8—Continued DISTRICT NO. 9—Continued MISSOURI—continued MINNESOTA—continued Kirksville—Citizens National Bank._ 1 to 8. Eveleth—First National Bank 1 to 3, 5 to 9. Pierce City—First National Bank 1 to 9. Fairmont- Ridgeway—First National Bank 1 to 9. First National Bank 1 to 9. St. Charles—First National Bank 1 to 9. Martin County National Bank__ 1 to 9. St. Louis- Faribault—Security National Bank,. 1 to 9. Boatmen's National Bank 1 to 9. Fergus Falls— First National Bank 1 to 4. Fergus Falls National Bank Ito8. Merchants' Laclede National Ito4. First National Bank Ito9. Bank. Hutchinson—Farmers National 1 to 9. National Bank of Commerce 1 to 9. Bank. Security National Bank, Savings 1 to 9. Lanesboro—First National Bank Ito3. & Trust Co. Little Falls- State National Bank _ Ito9. American National Bank 1 to 9. Sedalia— First National Bank 1, 2, 3, 5, 6, Citizens National Bank Ito4. 8, and 9. Third National Bank 1 to 3, 5 to 7. Minneapolis— Springfield— First National Bank. Ito9. McDaniel National Bank.. 1 to 9. Metropolitan National Bank 1 to 9. Union National Bank 1 to 4. Midland National Bank & Trust 1 to 8. Trenton—Trenton National Bank 1 to 9. Co. Unionville—Marshall National Bank. 1 to 3, 5 to 7. Northwestern National Bank 4. Versailles—First National Bank 1 to 3. Northfield—N o r t h f i e 1 d National 1 to 9. Bank. TENNESSEE Owatonna—First National Bank 1 to 9. (See also District No. 6) P R a e r d k W R i a n p g i — ds—First National Bank.. 1 to 9. Dyersburg—First-Citizens National 1 to 9. First National Bank 1 to 9. Bank. Goodhue County National Bank. 1 to 9. Jackson- Rochester—First National Bank 1 to 9. National Bank of Commerce 1 to 9. St. Paul- Security National Bank Ito9. Midway National Bank Ito9. Memphis—First National Bank Ito9. Twin Cities National Bank 1 to 9. St. Peter—First National Bank 1 to 8. DISTRICT NO. 9 Sauk Center—First National Bank... Ito9. Stewartsville—First National Bank__ 1. MICHIGAN Stillwater—First National Bank 1 to 9. Truman—Truman National Bank 1 to 9. (See also District No. 7) Virginia—American Exchange Na- 1 to 3, 5 to 8 Calumet—First National Bank 1 to 9. tional Bank. Hancock—First National Bank 2,3, 5, and 8. Waseca—Farmers National Bank 1 to 9. Houghton— Welcome—Welcome National Bank.. Ito8. Citizens National Bank_. 2,3, 5, and 8. West Concord—First National Bank. 1 to 9. Houghton National Bank Ito9. Windom—First National Bank Ito9. Iron Mountain—United States Na- 2, 3, 5, and 8. Winona— tional Bank. First National Bank. 1 to 9. Ironwood— Winona National & Savings Gocrpbip National Bank 2,3,5, and 8. Bank 1 to 9. Iron National Bank. 2,3, 5, and 8. Ishpeming—Miners National Bank.. 2,3,5, and 8. MONTANA Lake Linden—First National Bank.. 2, 3, 5, and 8. Billings- Laurium—First National Bank 2, 3, 5, and 8. Midland National Bank 1 to 9. Manistique—First National Bank— 1 to 4. Montana National Bank... 1 to 9. Marquette— Bozeman—Commercial National 1 to 4. First National Bank & Trust Co. Ito9. Bank. Union National Bank Ito9. Deer Lodge—United States National •vfpnnrm'npp First National Bank 1 to 9. Bank 1 to 5, 7, Munising—First National Bank of 2,3,5, and 8. and 8. Alger County. Dillon—First National Bank 1 to 7 and 9. Negaunee— Great Falls- First National Bank. 2,3, 5, and 8. First National Bank.. 1 to 9. Negaunee National Bank 1 to 3. Great Falls National Bank 1 to 4. Helena—National bank of Montana.. 1 to 9. MINNESOTA Kalispell—First National Bank 1 to 4. Lewistown—National Bank of Ito9. Albert Lea—First National Bank... 1 to 8. Missoula— Austin— First National Bank 1 to 7 and 9 Austin National Bank 1 to 9. Western Montana National Ito8. First National Bank 1 to 8. Bank. Bemidji—First National Bank 1 to 9. Blooming Prairie—First National 1, 2, 3, and 5. NORTH DAKOTA Ch B a a tf n i k el . d—First National Bank 1 to 5. Bismarck—First National Bank 1 and 9. Duluth— Ellendale—First National Bank 1 to 4 American Exchange National 1 to 8. Far go- Bank. First National Bank & Trust Co Ito9. City National Bank Ito9 Merchants National Bank 1 to 9. First National Bank 1 to 8. Forman—First National Bank Ito3. Minnesota National Bank 1 to 9. Grafton—Grafton National Bank... Ito9. Northern National Bank 1 to 9. Grand Forks—First National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FIDUCIARY POWERS 303 Powers Powers granted granted DISTRICT NO. 9—Continued DISTRICT NO. 10—Continued NORTH DAKOTA—continued COLORADO—continued Jamestown—James River National 1 to 3, 5 to 7, Golden—Rubey National Bank _ 1 to 9. Bank. and 9. Grand Junction—Grand Valley Na- Minot— tional Bank. Ito9. First National Bank __ 1 to9. Greeley— Union National Bank__ 1 to 7 and 9. First National Bank Ito9. Greeley Union National Bank 1 to 9. SOUTH DAKOTA Gunnison—First National Bank 1 to 9. Aberdeen—Aberdeen National Bank- Ito4. Hugo—First National Bank 1 to 3. Arlington—First National Bank 1 to 4. Idaho Springs—First National Bank. Ito4. Canton—First National Bank 1 to 9. Lamar—Lamar National Bank Ito9. Deadwood—First National Bank 1 to 9. Las Animas—First National Bank... Ito9. Flandreau—First National Bank 1 to 3. Longmont— Lead—First National Bank.. 1 to 9. First National Bank Ito9. Miller—First National Bank Ito9. Longmont National Bank 1 to 9. Rapid City—First National Bank 1 to 7 and 9. Loveland—First National Bank 1 to 4, 6, Citizens National Bank. Ito9. Mancos—First National Bank Ito9. Minnehaha National Bank 1 to 8. Montrose—Montrose National Bank. Ito9. Security National Bank Ito9. Ordway—First National Bank 1. Vermilion—First National Bank 2 to 9. Trinidad- Watertown— First National Bank Ito3. Citizens National Bank Ito9. Trinidad National Bank 1 to 9. First National Bank Ito9. Walsenburg—First National Bank... Ito9. Yankton—First National Bank & Trust Co . 1 to 4. KANSAS Anthony- WISCONSIN Citizens National Bank. Ito8. (See also District No. 7) First National Bank Ito4. Ashland Atchison—City National Bank Ito9. Ashland National Bank 1 to 9. Chanute—First National Bank 1 to 9. B C a h r i r p N o p n o e — r w th a F e i r F r n s a t N l N l a s a - ti t o io n n a a l l B B a a n n k k I 1 t o to 3 . 7 and 9. Coff F C ey i o r v n s il t d l e o N — n a t N io a n ti a o l n B al a n B k ank 1 1 t t o o 3 3 , a 5 n t d o 5 9 . . Eau F L C i u r l m s a t ir b e N e — r a m t U i e o n n n i s o a l n N B a N a ti a n o t k i n o a n l a B l a B n a k nk... I 1 1 t t t o o o 9 9 9 . . . Emp C C o o i r t i m i a z — e m n e s r c N ia a l t io N n a a t l i o B n a a n l k Bank & I I t t o o 9 9 . . M Su e p n N F e o i r m a r i t s o o i t o r n - n N ie a a — l t i B o F a n ir n a s k l t B N o a f a n C t k io o n m a m l e B r a c n e k 1 I 1 t t o t o o 7 9 . 9 . . H F G o o re r r t a t o t S n T c B — o r e u tt n F s — d t i r — s C C t o i F t N . i i z r a e s t t n i s o N n N a a t a l i t o B io n a n a n l a k l B B an a k nk- I 1 I t t o o to 9 4 . . 7 and 9. United States National Bank 1 to 9. Hutc A h m in e s r o i n c — an National Bank _ Ito9. Exchange National Bank Ito8. DISTRICT NO. 10 First National Bank Ito4. COLORADO Independence— Boulder- Citizens First National _ Ito9. Boulder National Bank 1 to 4. Commercial National Bank Ito9. Citizens National Bank 1 to 7. Jewel City—First National Bank Ito3. National State Bank 1 to 9. Kansas City—Peoples National Ito9. Brighton—First National Bank 1 to 4. Bank. Brush—First National Bank 1 to 3, 5 to 8. Lawrence— Canon City—Fremont County Na- 1 to 4. Lawrence National Bank Ito8. tional Bank. Merchants National Bank Ito8. Center—First National Bank Ito4. Watkins National Bank _. Ito9. Colorado Springs- Luray—First National Bank Ito3. Colorado Springs National Bank. 1 to 9. Manhattan- Exchange National Bank 1 to 9. First National Bank... _. 1 to 9. First National Bank... 1 to 9. Union National Bank.. 1 to 9. Craig—Craig National Bank 1 to 9. Ottawa—Peoples National Bank 1 to 4. Denver- Paola—Miami County National Ito9. American National Bank Ito7. Bank. Colorado National Bank. 1 to 9. Pratt—First National Bank Ito9. Denver National Bank... 1 to 9. Sabetha—National Bank of Sabetha_. Ito4. First National Bank Ito9. Salina— Stock Yards National Bank 1 to 9. Farmers National Bank 1 to 5 and 8. United States National Bank 1 to 9. National Bank of America Ito9. Durango—Burns National Bank 1 to 7. Topeka— Eagle—First National Bank of Eagle 1 to 4. Farmers National Bank Ito4. County. National Bank of Topeka 1 to 9. Englewood—First National Bank 1 to 4. Troy—First National Bank... Ito3. Florence—First National Bank Ito9. Wellington—First National Bank Ito9. Fort Collins- Wichita- First National Bank. Ito4. First National Bank Ito9. Fort Collins National Bank 1 to 9. Fourth National Bank 1 to 9. Poudre Valley National Bank.... 1 to 7 and 9. Union National Bank.. Ito9. Fort Morgan—First National Bank... Ito4. Winfield— Glenwood Springs—First National 1 to 3, 5 to 7 First National Bank Ito9. Bank. Winfield National Bank Ito9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
304 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 10—Continued DISTRICT NO. 10—Continued OKLAHOMA—continued (See also District No. 8) Cleveland—First National Bank 1 to 9. Dewey—First National Bank 1 to 9. Cameron—First National Bank 1 to 3. Enid- Carthage—Central National Bank... 1 to 3. American National Bank. _ Ito9. Independence—First National Bank. 1 to 9. Central National Bank 1 to 9. Joplin—Joplin National Bank 1 to 9. First National Bank 1 to 9. Kansas City- Guthrie—First National Bank 1 to 8. Columbia National Bank 1 to 4 and 9. Holdenville—First National Bank 1 to 9. Fidelity National Bank & Trust 1 to 9. Hominy- Co. First National Bank 1 to 3, 5 to 9. First National Bank 1 to 9. National Bank of Commerce 1 to 9. Gate City National Bank _.. 1 to 9. Hooker—First National Bank 1 to 3 and 5. Interstate National Bank 1 to 9. Lawton—City National Bank 1 to 3, 5 to 7 Liberty National Bank 1 to 7 and 9. and 9. Stockyards National Bank 1 to 9. McAlester—First National Bank 1 to 3, 5 to 7. Traders National Bank 1 to 7 and 9. Miami—Ottawa County National 1 to 9. Maryville—First National Bank 1 to 5. Bank. Neosho—First National Bank 1 to 9. Muskogee— Plattsburg—First National Bank 1 to 9. Commercial National Bank 1 to 8. St. Joseph— First National Bank ._ 1 to 9. American National Bank 1 to 4. Norman—First National Bank 1 to 9. Burns National Bank... 1 to 4. Okemah— Tootle-Lacey National Bank 1 to 8. First National Bank 1 to 8. Okemah National Bank 1 to 9. NEBRASKA Oklahoma City— American-First National Bank... 1 to 9. Belden—First National Bank 1 to 3, 5 to 9. Farmers National Bank 1 to 4. Butte—First National Bank. 1 to 3. Fidelity National Bank 1 and 4. Columbus—First National Bank 1 to 9. Liberty National Bank 1 to 9. David City—First National Bank... 1 to 9. Security National Bank. 1 to 8. Decatur—First National Bank 1 to 3. Tradesmens National Bank 1 to 7 and 9. Emerson—First National Bank 1 to 8. Okmulgee— Grand Island—First National Bank.. 1 to 9. American National Bank 1 to 9. Lincoln- Central National Bank 1 to 9. First National Bank 1 to 9. Citizens National Bank _.. 1 to 9. Lincoln National Bank & Trust 1 to 9. Pond Creek—First National Bank... 1 to 4. Co. Shawnee— Lyons—First National Bank 1 to 3. Shawnee National Bank 1 to 9. Madison—First National Bank 1 to 7 and 9. State National Bank. 1 to 9. Nebraska City—Nebraska City Na- 1 to 9. Stillwater—Stillwater National Bank. 1 to 9. tional Bank. I Tulsa— Norfolk—Norfolk National Bank I 1 to 3. Central National Bank & Trust 1 to 9. Omaha— Co. First National Bank 1 to 4. Exchange National Bank 1 and 4. Omaha National Bank 1 to 9. First National Bank & Trust Co. 1 to 9. United States National Bank 4. National Bank of Commerce 1 to 3, 5 to 9. Ord—First National Bank 1 to 4. Producers National Bank 1 to 9. Osmond—First National Bank 1 to 9. Woodward—First National Bank 2 and 3. Pender—First National Bank.. 1, and 3 to 7. Kandolph—First National Bank 1 to 9. WYOMING South Omaha—• Packers National Bank 1 to 9. Buffalo—First National Bank 1 to 4. Stock Yards National Bank 4. Casper- Utica—First National Bank 2 and 3. Casper National Bank Ito5. Wahoo—First National Bank.. 1 to 3, 5 to 9. Wyoming National Bank 1 to 9. Cheyenne- NEW MEXICO American National Bank _ _ 1 to 9. (See also District No. 11) Stock Growers National Bank-__ 1 to 9. Cody- Albuquerque- First National Bank 1 to 9. Albuquerque National Trust & 1 to 9. Shoshone National Bank 1 and 4. Savings Bank. Evanston—First National Bank_-___ 1 to 3. First National Bank 1 to 7 and 9. Kemmerer—First National Bank--.. 1 to 4. Farmington—First National Bank... 1 and 2. Laramie—First National Bank 1 to 3. Gallup—First National Bank in Gal- 2 and 3. Powell—First National Bank _._ 1 to 8. lup. Rawlins— Raton- First National Bank ._ 1 to 9. First National Bank in Raton. _. 1 to 7. Rawlins National Bank 1 to 3. National Bank of New Mexico I 2 and 3. Rock Springs—Rock Springs Na- 1 to 9. Santa Fe—First Nationa IBank 1 to 9. tional Bank. Sheridan—First National Bank 1 to 9. OKLAHOMA Therrnopolis—First National Bank.. 1 to 9. Ada—First National Bank Ito9. DISTRICT NO. 11 Ardmore—First National Bank Ito8. Bartles ville— First National Bank Ito8. Union National Bank... ._. 4. (See also District No. 12) Blackwell—First National Bank 1 to 9. Bristow—American National Bank. 1 to 9. Nogales—First National Bank | 1 to 8. Broken Arrow—First National Bank. 1 to 4, 6 to 8 Tucson—Consolidated National Bank1 1 to 4. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
305 FIDUCIARY POWERS Powers Powers granted granted DISTRICT NO. 11—Continued DISTRICT NO. 11—Continued LOUISIANA TEXAS—continued (See also District No. 6) Houston—Continued. Second National Bank 1 to 7 and 9. Shreveport— South Texas Commercial Na- lto 9. Gommereial National Bank 1 to 9. tional Bank. First National Bank _ 1 to 4. State National Bank... lto 9. Union National Bank lto 9. NEW MEXICO Italy—First National Bank.. _ lto 9. (See also District No. 10) La Grange—First National Bank 1. Longview—First National Bank 1 to 3, 5, Roswell—First National Bank Ito3. and 8. Silver City—American National Bank 2 and 3. McKinney— Collin County National Bank 1 to 9. TEXAS First National Bank 1,2, and 4. Abilene— Marshall- Citizens National Bank._ 1 and 2. First National Bank _ 1 to 3 and 5. Farmers & Merchants National Ito9. Marshall National Bank lto 5. Bank. Orange— Albany—Albany National Bank 4. First National Bank 1 to 9. Amarillo—First National Bank.. 1 to 4. Orange National Bank lto 9. Austin- Palestine—Royall National Bank 1 to 4. American National Bank-- _ 1 to 3. Port Arthur- Austin National Bank Ito9. First National Bank 1 to 4. Beaumont— Merchants National Bank 1 to 9. American National Bank Ito9. San Angelo— City National Bank. 1 to 9. Central National Bank lto 4. First National Bank Ito4. First National Bank 1 to 9. Texas National Bank 1 to 9. San Angelo National Bank lto 3. Bonham—First National Bank 1 to 3, 5 to 7. San Antonio- Brady—Brady National Bank 1 to 3 and 5. Alamo National Bank ___ _. lto 9. Brenham—First National Bank. 1 to 7 and 9. Frost National Bank _ lto 9. Brownsville- Groos National Bank . 1 to 9. First National Bank 1. Lockwood National Bank. lto 9. Merchants National Bank. 1. National Bank of Commerce lto 9. Brownwood—Citizens National Bank Ito9. Sherman— Cameron—Citizens National Bank Ito9. Commercial National Bank Ito3,5to8. Clarksville— First National Bank 1 to 3, 5 to 8. Merchants & Planters National lto 9. Colorado— Bank. City National Bank. 1 to 4. Stanton—First National Bank _ 1 to 3. Colorado National Bank _. 1 to 3, 5 to 7. Terrell—American National Bank lto 8. Corpus Christi— Texarkana — Texarkana National lto 9. City National Bank & Trust Co. 1 to 9. Bank. Corpus Christi National Bank... 1 to 7. Troup—First National Bank.. _ 1. Tyler- Corsicana National Bank Ito4. Citizens National Bank lto 9. First National Bank 1 to 9. Peoples National Bank 1 to 9. Dallas- Victoria—Victoria National Bank 1 to 4. American Exchange National 1 to 9. Waco- Bank. Citizens National Bank lto 9. City National Bank _. Ito9. First National Bank 1 to 8. Dallas National Bank. lto 9. Waxahachie—Citizens National Bank lto 9. Mercantile National Bank Ito9. Wichita Falls- National Bank of Commerce lto 4. City National Bank. 1 to 9. North Texas National Bank .___ lto 9. First National Bank lto 9. Republic National Bank & Trust 1 to 9. Co. DISTRICT NO. 12 Denison— Citizens National Bank lto 9. ALASKA State National Bank lto 9. El Paso— Fairbanks—First National Bank. 1 to 9. El Paso National Bank lto 9. First National Bank 1 to 7 and 9. ARIZONA State National Bank 1 to 9. Floresville—City National Bank 1 to 9. Phoenix—First National Bank.» lto 9. Fort Worth- Winslow—First National Bank 1. Continental National Bank _ lto 9. First National Bank _ 1, 2, and 4. CALIFORNIA Fort Worth National Bank lto 9. Stockyards National Bank _ lto 4. Alhambra—First National Bank lto 9. Gainesville—Lindsay National Bank. 1 to 9. Anaheim—First National Bank lto 9. Galveston— Berkeley—First National Bank 1 to 3, 5 to 7, City National Bank lto 9. and 9. First National Bank _ lto 9. Chico—First National Trust & Sav- South Texas National Bank lto 9. ings Bank . 1 to 8 United States National Bank lto 9. Fullerton—First National Trust & lto 9. Greenville—Greenville National Ex- lto 4. Savings Bank. change Bank. Long Beach- Haskell—Haskell National Bank 1 to 3, 5 to 8. California National Bank.. 1 to 9. Houston- First National Bank. 1 to 9. First National Bank lto 9. Los Angeles— National Bank of Commerce 1 to 7 and 9. Citizens National Trust & Sav- Public National Bank 1 to 9. ings Bank _ 1 to'9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
306 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 12—Continued DISTRICT NO. 12—Continued CALIFORNIA—continued OREGON—continued Los Angeles—Continued. Ontario—First National Bank 2 and 3. Farmers & Merchants National 1 to 9. Pendleton—First National Bank Ito9. Bank. Portland- Los Angeles-First National Trust 1 to 9. First National Bank Ito9. & Savings Bank. Peninsula National Bank 1 to 9. Pacific National Bank__ 1 to 9. United States National Bank 1 to 9. Seaboard National Bank 1 to 9. West Coast National Bank Ito9. The United States National Bank Salem— of Los Angeles.. 1 to 7 and 9. First National Bank in Salem 1 to 9. Mountain View—First National 4. United States National Bank 1 to 9. Bank. The Dalles—First National Bank 1 to 9. Oakland- Central National Bank. Ito9. UTAH First National Bank . Ito9. Logan—First National Bank 1 to 9. Orange—First National Bank Ito9. Ogden— Orland—First National Bank 4. First National Bank 1. Pleasanton—First National Bank 4. National Bank of Commerce 1 to 7 and 9. Pomona—First National Bank.. 1 to 3, 5 to 7. Salt Lake City- Redwood City—First National Bank 1 to 3, 5, 7 Continental National Bank 1 to 7 and 9. of Mateo County. to 9. Deseret National Bank 1 to 4. Riverside—Citizens National Trust & Savings Bank Ito9. WASHINGTON Sacramento—Capital National Bank. 1 to 9. Aberdeen—Grays Harbor National 1 to 9. San Bernardino—American National 1 to 9. Bank. Bank Bellingham— San Diego—First National Trust & 1 to 9. American National Bank 1 to 3 and 9. Savings Bank. Bellingham National Bank. 1 to 9. San Francisco- First National Bank _ _. 1 to 5 and 9. Anglo & London Paris National 1 to 9. Northwestern National Bank 1 to 9. Bank. Burlington—First National Bank 1 to 7 and 9 Bank of California, N. A 1 to 9. Chechalis—First National Bank 1 to 9. Bank of Italy National Trust & Ito9. Colfax—Farmers National Bank 1 to 5. Savings Association. Dayton—Columbia National Bank... 1 to 3. Crocker First National Bank 1 to 9. Ellensburg—Washington National Ito9. Pacific National Bank. __ 1 to 8. Bank. Santa Ana—First National Bank 1 to 9. Everett- Santa Barbara- First National Bank 1 to 9. County National Bank & Trust Ito9. Security National Bank... 1 to 9. Co. Hoquiam—First National Bank 1 to 9. First National Trust & Savings 1 to 9. Longview—First National Bank 1 to 9. Stockt " o R n o — nir First National Bank 1 to 3, 5 to 7. First National Bank 1 to 3. Whittier— Skagit National Bank 1 to 4. First National Trust & Savings Okanogan—First National Bank 1 to 9. Bank 1 to 7 and 9. Olympia— Whittier National Bank 1 to 9. Capital National Bank 1 to 9. Olympia National Bank 1 to 9. Port Angeles—First National Bank. _ 1 to 9. Pullman—First National Bank. 1 to 7. B Fi o r i s s t e N C a i t t i y o n N a a l t i B o a n n a k l B of a n Id k aho 1 It t o o 5 3 . , 5 to 9. Rosalia—Whitman County National 1 to 9. Pacific National Bank 1 to 9. Hagerman—First National Bank 1. Dexter Horton National Bank... 1 to 9. Hailey—Hailey National Bank 1 to 3. First National Bank 1 to 9. Lewiston—Lewiston National Bank.. 1 to 9. Marine National Bank 1 to 9. Moscow—First National Bank 1 to 4. Metropolitan National Bank 1 to 7 and 9 NEVADA National Bank of Commerce Ito9. National City Bank.. Ito9. Reno—Farmers & Merchants Na- 1 to 7 and 9. Pacific National Bank Ito9. Seattle National Bank 1 to 9. Tonopah—Nevada First National 4 and 9. University National Bank Ito9. Bank. Spokane- OREGON Exchange National Bank Ito9. Ashland—First National Bank 1 to 9. Fidelity National Bank. 1 to 9. Athena—First National Bank 1 to 9. Old National Bank & Union Ito9. Corvallis—First National Bank 1 to 9. Trust Co. Eugene—First National Bank 1 to 5. Tacoma— Orants Pass—First National Bank of 1, 2, 3, 5, 6, National Bank of Tacoma.. Ito9. Southern Oregon. 7, and 9. Puget Sound National Bank Ito9. Harrisburg—First National Bank 1 to 3. Toppenish—First National Bank 1 to 9. Hood River—First National Bank 1 to 9. Vancouver—Vancouver National 1 to 4. Junction City—First National Bank.. 1, 2, 3, 5, 6, Bank. 7, and 9. Waitsburg—First National Bank Ito9. McMinnville—United States Na- Ito9. Walla Walla— tional Bank. Baker-Boyer National Bank 1 to 9. Marshfield— First National Bank _ 1 to 9. Coos Bay National Bank. _ 1 to 9. Wenatchee—First National Bank 1 to 9. First National Bank of Coos Bay. 1 to 9. Yakima—Yakima National Bank Ito9. Medford—Medford National Bank... 1 to 9. Milton—First National Bank 1 to 4. HAWAIIAN ISLANDS Newberg—United States National Ito9. Honolulu—First National Bank of Ito8. Bank of Newburg Hawaii. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BANKS AUTHORIZED TO ACCEPT BILLS UP TO 100 PEK 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: Massachusetts—Continued. Hartford—Hartford National Bank & Trust Boston—Continued. Co. State Street Trust Co. New Haven—First National Bank. Webster & Atlas National Bank. Norwich—Thames National Bank. Dedham—Ded ham National Bank. Maine: Fall River—Massasoit-Pocasset National Bank. Portland- Fitchburg—Safety Fund National Bank. Canal National Bank. New Bedford- Portland National Bank. First National Bank. Massachusetts: Safe Deposit National Bank. Boston- Springfield—Springfield National Bank. American Trust Co. Worcester—Worcester County National Bank. Atlantic National Bank. Rhode Island: Beacon Trust Co. Providence— First National Bank. Blackstone Canal National Bank. Merchants National Bank. Industrial Trust Co. National Shawmut Bank. National Bank of Commerce. Old Colony Trust Co. Providence National Bank. Second National Bank. Rhode Island Hospital Trust Co. DISTRICT NO. 2 •Connecticut: New York—Continued. Bridgeport— New York City—Continued. City National Bank. Chemical National Bank. First National Bank. Corn Exchange Bank. New Jersey: Equitable Trust Co. Hoboken—First National Bank. Farmers Loan & Trust Co. Newark—National Newark & Essex Banking Fidelty Trust Co. Co. Fifth Avenue Bank. New Brunswick—National Bank of New Jer- First National Bank. sey. Garfield National Bank. Paterson— Grace National Bank. Hamilton Trust Co. Guaranty Trust Co. Paterson National Bank. Harriman National Bank & Trust Co. New York: Interstate Trust Co. Brooklyn—Nassau National Bank. Irving Trust Co. New York City- National Bank of Commerce. Bank of America, N. A. National City Bank. Bank of the Manhattan Co. (Manhattan National Park Bank. Co.). New York Trust Co. Bank of New York & Trust Co. Pacific Coast Trust Co. Bankers Trust Co. Seaboard National Bank. Central Union Trust Co. U. S. Mortgage & Trust Co. Chase National Bank. Utica—Utica Trust & Deposit Co. DISTRICT NO. 3 Pennsylvania: Pennsylvania—Continued. Philadelphia- Philadelphia—Continued. Corn Exchange National Bank & Trust Co. Market Street National Bank. First National Bank. Philadelphia National Bank. Tradesmen's National Bank & Trust Co. 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-Union Trust Co. Greensburg—First National Bank. Cleveland- Pittsburgh- Central National Bank. Bank of Pittsburgh, N. A. Cleveland Trust Co. First National Bank. Engineers National Bank. Mellon National Bank. Guardian Trust Co. Pittsburgh Trust Co. Union Trust Co. Union National Bank. Columbus- Union Trust Co. City National Bank of Commerce. West Virginia: Ohio National Bank. Wheeling—Wheeling Bank & Trust Co. 307 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
308 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 5 Maryland: South Carolina—Continued. Baltimore— Orangeburg—Edisto National Bank. Baltimore Commercial Bank. Rock Hill—Peoples National Bank. Baltimore Trust Co. Virginia: Drovers & Mechanics National Bank. Danville—First National Bank. Farmers & Merchants National Bank. Hampton—Merchants National Bank. First National Bank. Norfolk- Maryland Trust Co. Norfolk National Bank of Commerce & National Bank of Baltimore. Trusts. National Marine Bank. Seaboard Citizens National Bank. National Union Bank of Maryland. Virginia National Bank. Western National Bank. Richmond— North Carolina: Bank of Commerce & Trusts. Wilmington—Murchison National Bank. Central National Bank. South Carolina: First-Merchants National Bank. Charleston- Peoples First National Bank. South Carolina National Bank. DISTRICT NO. 6 Alabama: Georgia—Continued. Decatur— Valdosta—First National Bank. Central National Bank. Louisiana: City National Bank. New Orleans- Hun tsville—Henderson National Bank. American Bank & Trust Co. Mobile—Merchants National Bank. Canal Bank & Trust Cq. Montgomery—First National Bank. Hibernia Bank & Trust Co. Troy—Farmers & Merchants National Bank. Interstate Trust & Banking Co. Florida: Marine Bank & Trust Co. Jacksonville—Atlantic National Bank. New Orleans Bank & Trust Co. Pensacola—Citizens & Peoples National Bank. Whitney-Central National Bank. Georgia: Mississippi: Albany—Albany Exchange National Bank. Vicksburg—Merchants National Bank Atlanta- Trust Co. Atlanta & Lowry National Bank. Tennessee: Fourth National Bank. Chattanooga- Macon—Macon National Bank. First National Bank. Savannah— Hamilton National Bank. Citizens & Southern National Bank. Clarksville—First National Bank. Citizens Bank & Trust Co. Savannah Bank & Trust Co. DISTRICT NO. 7 Illinois: Indiana: Chicago- Brazil—Riddell National Bank. Chicago Trust Co. Indianapolis—Fletcher-American National Continental National Bank & Trust Co. 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- Liberty Central Trust Co. First National Bank. Mercantile Trust Co. Union & Planters Bank & Trust Co. DISTRICT NO. 9 Minnesota: M innesota—C ontinued. Minneapolis— First National Bank in Minneapolis. St. Paul—First National Bank. Northwestern National Bank. DISTRICT NO. 10 Colorado: Missouri—C ontinued. 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— Commerce Trust Co. American-First National Bank. Security National Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BANKS AUTHORIZED TO ACCEPT BILLS UP TO 100 PER CENT 309 DISTRICT NO. 11 Arizona: Texas—Continued. Nogales—First National Bank. G alveston— Texas: South Texas National Bank. Austin—American National Bank. United States National Bank. Brownwood—First National Bank in Brown- Hillsboro—Citizens National Bank. wood. Houston- Corpus Christi—State National Bank. First National Bank. Dallas- Houston National Bank. American Exchange National Bank. National Bank of Commerce. City National Bank. Second National Bank. Dallas National Bank. South Texas Commercial National Bank. Republic National Bank & Trust Co. Union National Bank. Eagle Pass—First National Bank. Navasota—First National Bank. El Paso—First National Bank. Paris—Lamar State Bank & Trust Co. Fort Worth- San Angelo—First National Bank. Fort Worth National Bank. Sherman—Commercial National Bank. Stockyards National Bank. Terrell- Gainesville—First National Bank. American National Bank. First National Bank. Waco—First National Bank. DISTRICT NO. 12 California: Oregon: Los Angeles- Portland— Citizens National Trust & Savings Bank. First National Bank. Los Angeles First National Trust & Sav- United States National Bank. ings Bank. Washington: San Francisco- Seattle- American Trust Co. Dexter Horton National Bank. Anglo & London-Paris National Bank. First National Bank. Bank of California, N. A. National Bank of Commerce. Crocker-First National Bank. Seattle National Bank. Pacific National Bank. Spokane- Wells Fargo Bank & Union Trust Co. Exchange National Bank. Santa Barbara—First National Trust & Savings Old National Bank & Union Trust Co. Bank. Spokane & Eastern Trust Co. Tacoma—National Bank of Tacoma. 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 30,1928 miles) (estimated) No. 1—Boston 61,345 7,888,000 No. 2—New York 51,890 14, 907,000 No. 3—Philadelphia... 36,842 7, 680,000 No. 4—Cleveland 73,424 11,445,000 No. 5—Richmond 152, 316 11,068,000 No. 6—Atlanta 248,226 11,158,000 No. 7—Chicago 190, 513 17,454,000 No. 8—St. Louis 194,810 9, 775,000 No. 9—Minneapolis.-. 414,004 5,637,000 No. 10—Kansas City.. 480,438 7,780,000 No. 11—Dallas _. 386,116 6, 717,000 No. 12—San Francisco 683,852 8,504,000 Total 2, 973, 776 120,013,000 FEDERAL RESERVE DISTRICTS DISTRICT NO. 1—BOSTON 61,345 7, 888, 000 Connecticut (excluding Fairfield Counts 4,189 1, 279,000 Maine 29,895 795,000 Massachusetts 8,039 4, 290,000 New Hampshire. 9,031 456,000 Rhode Island 1,067 716,000 Vermont 9,124 1352,428 DISTRICT NO. 2—NEW YORK 51,890 14,907,000 Connecticut (Fairfip.ld Conntv"} 631 388,000 New Jersey 3,605 2,969 000 Counties of— Bergen. Hunterdon. Morris. Sussex. Essex. Middlesex. Passaic. Union. Hudson. Monmouth. Somerset. Warren. New York 47,654 11, 550,000 DISTRICT NO. 3—PHILADELPHIA 36,842 7,680,000 Delaware 1 965 244 000 New Jersey _. 3,909 852,000 Counties of— Atlantic. Cape May. Gloucester. Ocean. Burlington. Cumberland. Mercer. Salem. Pennsylvania 30,968 6, 584,000 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. * Population Jan. 1,1920; decrease 1910 to 1920; no estimate made. 310 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DESCRIPTION OP FEDERAL RESERVE DISTRICTS 311 FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,192& miles) (estimated) DISTRICT NO. 4—CLEVELAND 73,424 11,445,000 Kentucky (eastern part) 17,614 1,149,000 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 6,826,000 Pennsylvania (western part) 13,864 3,269,000 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) ... 1,206 201,000 Counties of— Brooke. Marshall. Tyler. Hancock. Ohio. Wetzel. DISTRICT NO. 5—RICHMOND 152,316 11,068,000 District of Columbia - 62 552,000 Maryland - -_ 9,941 1,616,000 North Carolina _ _ 48, 740 2,938,000 South Carolina . 30,495 1,864,000 Virginia 40,262 2,575,000 West Virginia (southern part),.. _ _ _ 22,816 1,523,000 Counties of— Barbour. 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 11,158,000 Alabama ... 51,279 2,573,000 Florida _ 54,861 1,411,000 Georgia. 58, 725 3, 203,000 Louisiana (southern part) _ 26,891 1, 359,000 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 Calcasieu. La Fourche. tist. Rouge. Cameron. Livingston. St. Landry. West Feliciana. East Baton Orleans. St. Martin. Rouge. Plaquemines. St. Mary. East Feliciana. Pointe Coupee. St. Tammany. 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. 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
312 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1928 miles) (estimated) DISTRICT NO. 6.—ATLANTA—Continued. Tennessee (eastern part) . 30,951 1,759,000 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 17,454,000 Illinois (northern p< 35,448 5, 978,000 Counties of— Boone. Ford. Livingston. Rock Island. Bureau. Fulton. Logan. Sangamon. Carroll. Grundy. McDonough. Schuvler. 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 part) 26,707 2,525,000 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. WThite. Fayette. Lake. Randolph. Whitley. Iowa 55,586 2,428,000 Michigan (southern part) 40,789 4,175,000 Counties of— Alcona. Eaton. Lapeer. Ogemaw. Allegan. Emmet. Leelanau. Osceola. Alpena. Genesee. Lena wee. 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. Kalamazoo. Muskegon. Van Buren. Claire. Kalkaska. Newaygo. Washtenaw. Clinton. Kent. Oakland. Wayne. Crawford. Lake. Oceana. Wexford. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DESCRIPTION OF FEDERAL RESERVE DISTRICTS 313 FEDERAL. RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1928 miles) (estimated) DISTRICT NO. 7.—CHICAGO—ContinuecI. Wisconsin (southern part). . 31,983 2,348,000 Counties of— Adams. Green Lake. Marquette. Sheboygan. Brown. Iowa. Milwaukee. Vernon. Calumet. Jackson. Monroe. Wai worth. 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 9,775,000 Arkansas 52, 525 1,944,000 Illinois (southern part) 20, 595 1,418,000 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. Effingham. Johnson. Pope. White. Fayette. Lawrence. Pulaski. Williamson. Indiana (southern part) 9,338 651,000 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 (westen1 part) -- -- -- 22, 567 1,404,000 Counties o 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. Grayson. 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. Mississippi (northern part) . _ 20,843 i 937,568 Counties o Alcorn. De Soto. Monroe. Tate. Attala. Grenada. Montgomery. Tippah. Benton. Holmes. Noxubee. Tishomingo. Bolivar. Humphreys. Oktibbeha. Tunica. Calhoun. Itawamba. Panola. Union. Caroll. Lafayette. Pontotoe. Washington. Chicasaw. Lee. Prentiss. Webster. Choctaw. Leflore. Quitman. Winston. Clay. Lowndes. Sunflower. Yalobusha. Coahoma. Marshall. Tallahatchie. * Population Jan. 1, 1920; decrease 1910 to 1920; no estimate made. 41223—29 21 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
314 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1928 miles) (estimated) DISTRICT NO. 8.—ST. LOUIS—Continued. Missouri (eastern part) 58, 206 2,676,000 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. Cal dwell. 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) 10,736 744,000 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 5,637,000 Michigan (northernpart) 16, 691 416, 000 Counties of- Alger. Dickinson. Keweenaw. Menominee. Baraga. Gogebic. Luce. Ontonagon. Chippewa. Houghton. Mackinac. Schoolcraft. Delta. Iron. Marquette. Minnesota-- 80, 858 2,722,000 M ontana 146,131 1548, 889 North Dakota 70,183 2 641,192 South Dakota 76,868 704,000 Wisconsin (northern part). 23, 273 605,000 Counties of— Ashland. Dunn. Oneida. Sawyer. Barron. Eau Claire. Pepin. Taylor. Bay field. Florence. Pierce. Trempealeau Buffalo. Forest. Polk. Vilas. Burnett. Iron. Price. Washburn. Chippewa. La Crosse. Rusk. Douglas. Lincoln. St. Croix. DISTRICT NO. 10—KANSAS CITY 480,438 7,780,000 Colorado 103,658 1,090,000 Kansas - 81,774 1,835,000 Missouri (western part) 10, 521 847,000 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 1,408,000 New Mexico (northern part). - _ 48,359 169,000 Counties of— Bernalillo. Mora. San Juan. Taos. Colfax. Rio Arriba. San Miguel. Union. McKinley. Sandoval. Santa Fe. Valencia. 1 Population Jan. 1, 1920; estimate unsatisfactory. 2 Population State census, 1925; decrease 1920 to 1925; no estimate made. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DESCRIPTION OF FEDERAL RESERVE DISTRICTS 315 FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district (square June 30,1928 miles) (estimated) DISTRICT NO. 10—KANSAS CITY—Continued. Oklahoma (northwestern part) 61,770 2,184,000 Counties of— Adair. Ellis. Logan. Pontotoc. Alfalfa. Garfield. Love. Pottawatomie. 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. Tillman. Cimarron. Hughes. Nowata. Tulsa. Cleveland. Jackson. Okfuskee. Wagoner. Comanche. Jefferson. Oklahoma. Washington. Cotton. Kay. Okmulgee. Washita. Craig. Kingfisher. Osage. Woods. Creek. Kiowa. Ottawa. Woodward. Custer. Latimer. Pawnee. Delaware. Le Flore. Payne. Dewey. Lincoln. Pittsburg. Wyoming. 97,548 247,000 DISTRICT NO. 11—DALLAS 386,116 6,717,000 Arizona (southeastern part) - 23,412 169,000 Counties of— Cochise. Greenlee. Pima. Santa Cruz. Graham. Louisiana (northern part) 18,518 591,000 Parishes of— Bienville. De Soto. Madison. Tensas. Bossier. East Carroll. Morehouse. Union. Caddo. Franklin. Natchitoches. Webster. Caldwell. Grant. Ouachita. West Carroll. Catahoula. Jackson. Red River. Winn. Claiborne. La Salle. Richland. Concordia. Lincoln. Sabine. New Mexico (southem part) 74,144 228,000 Counties of— Catron. Eddy. Lincoln. Sierra. Chaves. Grant. Luna. Socorro. Curry. Guadalupe. Otero. Torrence. De Baca. Hidalgo. Quay. Dona Ana. Lea. Roosevelt. Oklahoma (southeastern nnrt^ 7,644 242,000 Counties of— Atoka. Choctaw. Johnston. Marshall. Bryan. Coal. McCurtain. Pushmataha. Texas 262, 398 5,487,000 DISTRICT NO. 12—SAN FRANCISCO 683,852 8,504,000 Arizona (northwestern part) 90,398 305,000 Countiesof— Apache. Maricopa. Navajo. Yavapai. Coconino. Mohave. Pinal. Yuma. Gila. California 155,652 4,556,000 Idaho . 83, 354 546,000 Nevada 109,821 l 77^ 407 Oregon 95,607 902,000 Utah 82,184 531,00C Washington 66,836 1,587,000 * Population Jan. 1,1920; decrease 1910 to 1920; no estimate made. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
DESCRIPTION OF FEDERAL RESERVE BRANCH TERRITORIES 00 [December 31, 1928] Federal reserve branch Fede d r i a s l t r r i e c s t erve Description of territory Buffalo _„ 2—New York_. The 10 most westerly counties of New York State, as follows: Monroe, Genesee, Orleans, Erie, Allegany, Cattaraugus, Wyoming, (Opened May 15, 1919.) Livingston, Chautauqua, Niagara. Cincinnati.. _ __ 4— Cleveland- _ That part of Kentucky in Federal Reserve District No. 4, and the following 25 counties in southern Ohio: Adams, Athens, Brown, (Opened Jan. 10, 1918.) Butler, Clark, Clermont, Clinton, Darke, Fayette, Gallia, Greene, Hamilton, Highland, Jackson, Lawrence, Meigs, Miami, Montgomery, Pike, Preble, Ross, Sciota, Vinton, Warren, Washington. S Pittsburgh Those portions of the States of Pennsylvania and West Virginia included in Federal Reserve District No. 4. (Opened Apr. 22, 1918.) Baltimore 5—Richmond The State of Maryland and the following 30 counties of West Virginia: Barbour, Berkeley, Braxton, Calhoun, Doddridge, Gilmer, S (Opened Mar. 1, 1918.) Grant, Hampshire, Hardy, Harrison, Jackson, Jefferson, Lewis, Marion, Mineral, Monongalia, Morgan, Nicholas, Pendleton, Pleasants, Preston, Randolph, Ritchie, Roane, Taylor, Tucker, Upshur, Webster, Wirt, Wood. Charlotte The following counties in the States of North Carolina and South Carolina: North Carolina—Alexander, Allegany, Ashe, Avery, (Opened Dec. 1, 1927.) Buncombe, Burke, Cabarrus, Caldwell, Catawba, Cherokee, Clay, Cleveland, Gaston, Graham, Haywood, Henderson Iredell, Jackson, Lincoln, Macon, Madison, McDowell, Mecklenburg, Mitchell, Polk, Rowan, Rutherford, Stanly, Swain, Transylvania, Union, Watauga, Wilkes, Yancey. South Carolina—Abbeville, Aiken, Anderson, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Lancaster, Laurens, Lexington, McCormick, Newberry, Oconee, Pickens, Richland, Saluda, Spartanburg, Union, York. Birmingham 6—Atlanta- That part of the State of Alabama north of the Atlanta & West Point R. R. and Western Ry. of Alabama between Atlanta and (Opened Aug. 1, 1918.) Montgomery, and west of the Louisville & Nashville R. R. between Montgomery and Mobile, except towns located on the Atlanta & West Point R. R. and the Western Ry. of Alabama, in the counties of Lee and Chambers; also the counties of Macon, Montgomery, Lowndes, Butler, Conecuh, Escambia, Crenshaw, and Bullock, but not the counties of Mobile and Baldwin. Jackson ville The entire State of Florida. (Opened Aug. 5, 1918.) Nashville That part of the State of Tennessee included in Federal Reserve District No. 6 with the exception of the city of Chattanooga. (Opened Oct. 21, 1919.) New Orleans Those parts of the States of Louisiana and Mississippi located in Federal Reserve District No. 6, and the counties of Mobile and (Opened Sept. 10, 1915.) Baldwin in Alabama. i Detroit. .. 7—Chicago... The following 19 counties in the State of Michigan: Bay, Genessee, Hillsdale, Huron, Ingham, Jackson, Lapeer, Lenawee, (Opened Mar. 18, 1918.) Livingston, Macomb, Monroe, Oakland, Saginaw, Sanilac, St. Clair, Shiawassee, Tuscola, Washtenaw, Wayne. Little Rock... 8—St. Louis.. Territory is not determined by State or county lines. Branch territory consists of all cities in Arkansas except those assigned to (Opened Jan. 6, 1919.) the head office and to the Memphis branch. (For names of cities see Federal Reserve Interdistrict Collection System list.) Loui ( s O v p il e l n e. ed Dec. 3, 1917.) Te in rr i F to e r d y e r i a s l no R t e s d e e r t v e e r m D in is e t d r ic b t y N S o ta . t 8 e , o e r x c ce o p u t n t t y h o l s i e n e a s s . sign B e r d a n t c o h th te e r r h i e to a r d y o c ff o i n ce s . i sts ( F o o f r a l n l a c m it e ie s s o i f n c K it e ie n s t u se c e k y F e a d nd e ra In l d R ia e n se a r v in e c l I u n d te ed r- o w district Collection System list.) Memphis Territory is not determined by State or county lines. Branch territory consists of all cities in Mississippi included in Federal (Opened Sept. 3,1918.) Reserve District No. 8; all cities in Tennessee included in District No. 8, except those assigned to St. Louis; and cities in Arkansas not assigned to St. Louis or Little Rock. (For names of cities see "Federal Reserve Interdistrict Collection System" list.) Helena 9—Minneapolis. _ The entire State of Montana. (Opened Feb. 1,1921.) Denver - 10—Kansas City. The entire State of Colorado and that part of the State of New Mexico included in Federal Reserve District No. 10. (Opened Jan. 14, 1918.) Oklahoma City That part of the State of Oklahoma located in Federal Reserve District No. 10, (Opened Aug. 2,1920.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Omaha * -. The entire States of Nebraska and Wyoming. (Opened Sept. 4,1917.) El Paso 11—Dallas. That part of the States of Arizona and New Mexico located in Federal Reserve District No. 11, and the following 14 counties in (Opened June 17, 1918.) the State of Texas: Andrews, Crane, Culberson, Ector, El Paso, Hudspeth, Jeff Davis, Loving, Martin, Midland, Pecos, Reeves, Ward, Winkler. Houston The following 40 counties in the southeast part of the State of Texas: Anderson, Angelina, Austin, Bastrop, Brazoria, Brazos, (Opened Aug. 4, 1919.) Burleson, Chambers, Cherokee, Colorado, Fayette, Fort Bend, Galveston, Grimes, Hardin, Harris, Houston, Jackson, Jasper, CO Jefferson, Lavaca, Lee, Liberty, Madison, Matagorda, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augus- o tine, San Jacinto, Shelby, Trinity, Tyler, Walker, Waller, Washington, Wharton. San Antonio The following 55 counties in the State of Texas: Atascosa, Aransas. Bandera, Bexar, Blanco, Bee, Brooks, Brewster, Comal, Cald- t a —I (Opened July 5,1927.) well, Calhoun, Cameron, Dimmit, Duval, Dewitt, Edwards, Frio, Gillespie, Gaudalupe, Goliad, Gonzales, Hays, Jim Hogg, Hidalgo, Kendall, Kerr, Kimble, Kinney, Karnes, Kenedy, Kleberg, LaSalle, Llano, Live Oak, Mason, Maverick, McMullen, Medina, Nueces, Presidio, Real, Refugio, San Patricio, Starr, Travis, Terrell, Uvalde, Valverde, Victoria,* Webb, Wilson, Jim Wells, Willacy, Zapata, Zavalla. o Los Angeles 12—San Francisco. That part of the State of Arizona located in Federal Reserve District No. 12, and the following counties in California: Imperial, (Opened Jan. 2, 1920.) Inyo, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, Ventura. Portland The entire State of Oregon, except the towns of Klamath Falls, Lakeview, and Merrill, which are affiliated with the head office, (Opened Oct. 1,1917.) and the following five counties in the State of Washington: Clarke, Cowlitz, Klickitat, Skamania, Wahkiakum, and the town of Ilwaco, Wash. Salt Lake City The entire State of Utah and the following counties in Idaho and Nevada: Idaho—Ada, Adams, Bannock, Bear Lake, Bingham, (Opened Apr. 1, 1918.) Blaine, Boise, Bonneville, Butte, Camas, Canyon, Caribou, Cassia, Clark, Custer, Elmore, Franklin, Fremont, Gem, Gooding, Jefferson, Jerome, Lemhi, Lincoln, Madison, Minidoka, Oneida, Owyhee, Payette, Power, Teton, Twin Falls, Valley, Washington. Nevada—Clark, Elko, Lincoln, White Pine. Seattle The following 16 counties in the State of Washington: Clallam, Grays Harbor, Island, Jefferson, King, Kitsap, Kittitas, Lewis, (Opened Sept. 19, 1917.) Mason, Pacific, Pierce, San Juan, Skagit, Snohomish, Thurston, Whatcom, except the town of Ilwaco, Wash. Spokane The following counties in the States of Washington and Idaho: Washington—Adams, Asotin, Benton, Chelan, Columbia, Doug- (Opened July 26, las, Ferry, Franklin, Garfield, Grant, Lincoln, Okanogan, Pend Oreille, Spokane, Stevens, Walla Walla, Whitman, Yakima. Idaho—Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce, Shoshone. I i Victoria County transferred to Houston branch Feb. 10,1928. w to CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE DISTRICTS A CO 00 "——^ -J 7 MONT. ctkC A. SH Helena f N.DAK- } 9 ? MINN. J* MINNEAPOLISC ' fD ^ * ^- K J ~*'~ <y^, / 3 1 S.DAK. 1 '^ ?—-4— } / ~"'t -^7 ]) *W&n < i *£ { \ JOWA 1 d NEBR. ^ . \ 0maha»i 10 — -s i 1 COI.O. KANSAS CITVJ <iT?Z£&'''i''-'< \ • * / KANS. j 1 ST LOUIS v^^/v ^ xt-~oi • 1 y\ / I Oklahoma City 1 i^^ //***HLiu le°Rock/ r <—< < Birmin4h^m GA \ L«^ DALLAS® V " 'ipMiSs' ; ^u"-r;i }O Savannati / i •"i j V \ \ V v a v^ HoustonI ->*._^» NewOrieans \* \ / V • ' * $ r' i i 'BOUNDARIES OF FEDERAL RESERVE DISTRICTS Y BOUNDARIES OF FEDERAL RESERVE BRANCH TERRITORIES \ ^ X @ FEDERAL RESERVE BANK CITIES \ i V J © 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'— Growth in use of— Page Chart showing 14 Discussion of 12 Holdings by Federal reserve banks 71, 132, 144 Open-market discount rates 103, 104 Outstanding 131, 132 Regulations of board relating to, revision of 35, 236 Banks authorized to accept bills up to 100 per cent of capital and surplus 307-309 Commodity classification of open-market purchases 76 Held by Federal reserve banks 20, 47, 53, 63, 64, 66, 68, 71, 72, 144 Imports and exports, based on— Classification according to underlying commodities 76 Discounted or purchased and held by Federal reserve banks 71 Maturity of bills purchased and held by Federal reserve banks__ 70, 72, 144 Number of pieces handled by Federal reserve banks 21, 76, 157 Outstanding 131, 132 Purchased by Federal reserve banks 53, 63 Rates, discount and open-market— Average rates charged on bills discounted and bought by Federal reserve banks 100 Average rates earned on bills bought by Federal reserve banks 20, 101 Buying rates 99 Changes in Federal reserve bank rates 4, 97, 98 Trade acceptances— Classification according to underlying commodities 76 Held by Federal reserve banks 71, 144 Purchased by Federal reserve banks in open market 71 Accommodation at Federal reserve banks of reporting member banks 70, 197 Adjusted-service certificates, discount of paper secured by 71 Administrator, national banks authorized to act as 34, 284-306 Advisory council, Federal. (See Federal advisory council.) Agencies of Federal reserve banks. (See Branches and agencies.) Agricultural paper: Held by Federal reserve banks 71, 144 Discount rates 98 Amendment to Clayton Antitrust Act 37, 231 Amendments to Federal reserve act 36, 231 Legislation recommended 40 Amendments to Federal Reserve Board regulations 35, 232-237 Area of Federal reserve districts 310-315 Assessment for expenses of Federal Reserve Board 43, 166, 246 Assets and liabilities. (See Resources and liabilities.) Assignee, national banks authorized to act as 34, 284-306 Automobiles, index of production 222 Balance sheets. (See Condition statements.) Balances due from foreign banks in computing reserves, advisory council on 229 Baltimore branch bank, building operations : 23 Bank debits—debits to individual account 132 Bank failures 26, 133, 210 Bank mergers 32, 137, 212 Bank notes. (See Federal reserve bank notes; National bank notes.) Bank of Poland, credit extended to, by Federal reserve banks 35 Bank of Rumania, credit extended to, by Federal reserve banks 35 319 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
320 INDEX Page Bank premises, Federal reserve 22, 65, 79, 167 Book value 79 Cost of 79 Date occupied 79 Depreciation charges 22, 167 Expenses of maintaining 166 Bank suspensions 26, 133, 210 Bankers' acceptances. (See Acceptances.) Bankers7 balances of member banks 128, 209 By weeks 128 Banking, branch 29 Banking, chain 30 Bills bought. (See Acceptances.) Bills discounted, holdings of, by Federal reserve banks 20, 47, 53, 63, 64, 66, 68, 71, 72, 144 Earnings on 20, 80, 101 (See also Discount and open-market operations.) Bonds, United States. (See United States securities.) Boots and shoes, index of wholesale trade 224 Borrowings of brokers in New York City 129, 130 Discussion of 2-10 Borrowings of member banks at Federal reserve banks 3, 117, 121, 123, 125, 127, 191, 195, 198, 208 By months, 1927-28 191 By States 195 Discussion of 3 Weekly figures 208 Branch banking . 29 Branches and agencies of Federal reserve banks: Building operations 23, 79 Clearing operations 23, 158 • Counties comprising territory 316, 317 Directors of 251-257 Expenses of 23 Managers of 251-257 Volume of operations 23, 158 Brick, index of production 222 Brokers, loans to, by banks in New York City 129, 130 Advisory council recommendations 230 Chart showing 3 Discussion of 2-10 Buffalo branch bank, building operations 24 Building contracts awarded, index of 219 Building operations of Federal reserve banks 23, 79 Cost of bank premises 79 Depreciation charges 23, 167 Expenses of maintaining bank premises 167 Bulgaria, gold standard in 14 Business conditions: Discussion of 1 Effect of prevailing discount rates on, advisory council on 229 Call loans: In New York City 129, 130 Rates in New York City 103, 104 Relation of, and Federal reserve discount rates, advisory council on_ 229, 230 Capital: Federal reserve banks 22, 65, 66, 68 Member banks •_ 112, 113, 114, 175 Car loadings, index of 219 Cash reserves of Federal reserve banks 50, 54, 63—69 Cement, index of production 222 Central banks, foreign: Discount rates 106 Gold holdings 15 Central reserve cities: Classification of loans and securities 118, 119 Condition of member banks in 113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX 321 'Certificates of indebtedness, Treasury: Held by Federal reserve banks 64, 73, 75 Temporary 1-day certificates held 75 Yield on 103, 104 Chain banking, discussion of 30 Changes in discount rates 4, 97 Changes in membership in Federal reserve system 24, 137, 212 •Charts: Bankers' acceptances outstanding 14 Brokers' loans 3 Federal reserve bank credit outstanding 17 Loans and investments of reporting member banks 6 Money rates 10, 11 Reserve bank credit 4 Check clearing and collection: Amendment to Regulation J 237 Gold settlement fund transactions 77, 159 Operations, volume of— Federal reserve banks 21, 76, 157 Federal reserve branch banks 23, 158 Opinion of Supreme Court of Minnesota in Minneapolis par clearance case 40,238-242 Par list, number of banks on 33, 78, 160, 161 Cincinnati branch bank, building operations 24 Circulation, money. (See Currency; Federal reserve notes; National bank notes; Money.) Classification of bills bought in open market-_ _ 76 Classification of loans and securities of member banks 118, 119 Olayton Antitrust Act: Administration of, by Federal Reserve Board 37 Amendment to 37, 231 Regulation of board governing bank directorates 36, 232-235 Clearing operations, volume of: Federal reserve banks 21, 76, 157 Federal reserve branch banks 23, 158 Clothing, index of wholesale trade 224 Coal, index of production 223 Coin received and counted: At Federal reserve banks 21, 76, 157 At Federal reserve branch banks 23, 158 Coin circulation 94 Collateral held as security against Federal reserve notes 81 Collateral notes of member banks discounted by Federal reserve banks: Holdings of 71, 144 Maturity of 70, 144 Collection of checks. (See Check clearing and collection.) Commercial paper: Rates on, in New York City 103, 104 Held by Federal reserve banks 71, 144 Outstanding 131 Comptroller of the Currency: Mclntosh, J. W., resignation of 43 Pole, J. W., appointment of 43 Condition of banks: All banks in the United States— Deposits, exclusive of interbank deposits 111,171 Investments 111, 170, 174 Loans 111, 169, 173 Loans and investments 111, 168, 172 Federal reserve banks— Deposits by weeks 60 Deposits, reserves, note circulation, and reserve percentages 50 Each bank 68, 145-156 Reserve bank credit outstanding 47-49, 53 Resources and liabilities— All banks combined 63 At the end of each month 66 Each bank 68, 145-156 Weekly statement and balance sheet items 64 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
322 INDEX Condition of banks—Continued. Member banks— All banks— Page Borrowings at Federal reserve banks. 3, 117, 121, 191, 195, 198, 208 Investments 114, 175, 194 Loans 114, 175, 193 Loans and investments 114, 175, 192 Loans, classification of 118 Net demand and time deposits 114, 116, 175, 187, 188 Reserve balances 114, 117, 175, 190 Resources and liabilities— By class of bank .__ 113 By class of member 112 By Federal reserve districts 175-186 On call dates, 1914-1928 114 Securities, classification of 119 Central reserve and reserve city banks 113 Country banks 113 Reporting banks in leading cities— Bankers' balances 128, 209 Borrowings at Federal reserve banks 121, 123, 125, 199, 208 Deposits 121, 125 Investments 120, 122, 124, 126, 198, 204 Loans 120, 122, 124, 126, 198, 201-203 Loans and investments 120, 122, 126, 200 Loans, investments, deposits, reserves, and borrowings, 120, 121, 198 Loans on securities 202 Net demand and time deposits 121, 123, 125, 127, 203, 205, 206 Reserve balances 121, 123, 125, 207 Resources and liabilities— By class of bank 113 By class of member 112 By Federal reserve districts 175-186 By weeks 120 Central reserve city banks 113 Country banks 1 3 On call dates, 1914-1928 114 Reserve city banks 113 National banks— Classification of loans 118 Classification of securities 119 Resources and liabilities 112 State bank members— Classification of loans 118 Classification of securities 119 Resources and liabilities 112 Congress, legislation recommended by Federal Reserve Board to 40 Copper, index of production 223 Counties in Federal reserve districts 310-315 Counties in Federal reserve branch territories 316, 317 Consolidations, bank 32, 137, 212 Country member banks: Classification of loans and securities 118, 119 Condition of 113 Court opinions: Supreme Court of District of Columbia relative to discretion of Federal Reserve Board in approving the organization of foreign banking corporations 37 Supreme Court of Minnesota in case of First State Bank of Hugo v. Federal Reserve Bank of Minneapolis; check collection transaction 40, 238-242 United States District Court of New York relative to discretion of Federal reserve system in matters relating to credit policies 39, 242 Credit: Extended to foreign banks by Federal reserve banks 35 Federal reserve bank 3, 10, 17, 47-75 Chart showing 4, 17 Member bank 1, 111-128 Opinion of court relative to policies of Federal reserve system 39, 242 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX Credit—Continued. Page Policy of Federal reserve system 9 Currency: Amounts received and counted— At Federal reserve banks 21, 76, 157 At Federal reserve branch banks 23, 158 Circulation 90-94 Federal reserve, cost of 20, 246 (See also Federal reserve notes; National bank notes; Money.) Customers' paper discounted by Federal reserve banks: Average rates charged 102 Holdings of 71, 144 Debits to individual account 132 Deferred availability items (checks, drafts, transit items, etc.) of Federal reserve banks 65, 66, 68 Demand and sight drafts held by Federal reserve banks 71, 144 Demand deposits of member banks. (See Deposits.) Department-store sales and stocks, index of 219 Deposits: All banks in the United States 111, 171 Federal reserve banks 50, 60, 63, 65, 66, 68, 145-156 By weeks 60-62 All banks combined 63 Each bank 68, 69, 145-156 Foreign bank, held by Federal reserve banks 50, 54, 65, 66, 67 Member banks— All banks 114, 116, 175-186, 187-190 Reporting banks in leading cities 121, 123, 125, 127, 205, 206 Reserve deposits 50, 54, 60, 63, 114, 117, 121, 123, 125, 190 Time and demand— All banks 114, 116, 175, 187 Reporting banks in leading cities 121, 123, 125, 127, 205, 206 National banks 112 State bank members 112 Depreciation charged off by Federal reserve banks 22, 167 Directors of Federal reserve banks and branches, list of 251-257 Directors of member banks, responsibilities arising out of noncompliance with reserve requirements of Federal reserve act, advisory council on__ 228 Discount and open-market operations of Federal reserve banks: Acceptances— Average rates of earnings on bills bought 20, 101 Average rates charged by Federal reserve banks 100 Bankers' 12, 71, 131, 132, 144 Commodity classification of open-market purchases 76 Discounted by Federal reserve banks 63, 64, 66, 68, 71 Held by Federal reserve banks 20, 47, 53, 63, 64, 66, 68, 71, 72, 144 Imports and exports based on— Classification according to underlying commodities 76 Discounted or purchased and held by Federal reserve banks- 71 Maturity of bills purchased or held by Federal reserve banks _ 70, 72, 144 Number of pieces handled 21, 76, 157 Outstanding 131, 132 Purchased by Federal reserve banks 53, 63 Trade 71, 76, 144 Branches of Federal reserve banks, bills discounted and bought by__ 158 Discounts— Commercial and agricultural paper, volume discounted 71, 144 Customers' paper, average rates charged by member banks on paper rediscounted 102 Dollar exchange bills purchased or discounted 71,76 Earnings on bills and securities held 20, 80, 101 Maturity of 70, 72, 144 Member banks accommodated, number of 70, 191, 197 Member banks' collateral notes discounted and held by Federal reserve banks 71, 144 Rates charged and rates of earnings on bills discounted. 20, 100, 101, 102 United States securities, paper secured by, discounted and held by Federal reserve banks 64, 71, 144 Volume of bills discounted _._ 21, 76, 157 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
324 INDEX Discount and open-market operations of Federal reserve banks—Con. United States securities purchased and held by Federal reserve banks 20, 47, 53, 63-68, 73, 74, 145 Volume of operations 21, 76, 157 Discount and open-market rates: Acceptances, buying rates of Federal reserve banks on 99 Average rates of earnings by Federal reserve banks on— Acceptances 101 Bills discounted 20, 101 Total bills and securities 101 United States securities purchased 20, 101 Average rates charged by Federal reserve banks on bills discounted and bought 100 Average rates charged by member banks on customers' paper rediscounted with Federal reserve banks 102 Changes in Federal reserve bank rates 5, 97, 98 Effect of prevailing rates on business conditions, advisory council on_ 229 Open-market rates in New York City 10, 103, 104 Chart showing 4 Relation of Federal reserve discount rates and security loan market rates, advisory council on 229, 230 (See also Money rates.) Discount rates of central banks in foreign countries 106, 107 Discounts. (See Discount and open-market operations.) Districts, Federal reserve. (See Federal reserve districts.) Dividends: Member banks 214 National banks_ _ _ _ 215 State bank members 216 Paid by Federal reserve banks 23, 80, 162, 167 Dollar exchange bills purchased or discounted and held by Federal reserve banks 71, 76 Dry goods, wholesale trade, index of i 224 Diugs, wholesale trade, index of 224 Due from foreign banks to Federal reserve banks 47, 53, 64, 66, 68 Due to and from banks and bankers 114, 128, 209 Earmarked gold for foreign account 88 Earnings and expenses: Federal reserve banks 20, 80, 162-167 By sources 80 Rates of earnings 20, 107 Member banks 214 National banks 215 State bank members 216 Edge Act, amendment to 36, 237 Eligible paper held as security for Federal reserve notes 81 Employees: Federal reserve banks, number and salaries 258-260 Federal Reserve Board, salaries 243-245 England: Discount rates 106 Money rates 107 Estonia, gold standard in 14 Examination of Federal reserve banks 26 Examiners: Federal reserve banks, salaries 244 National banks, salaries 248 Executor, national banks granted authority to act as 34, 284-306 Expenses: Branches and agencies of Federal reserve banks 23 Federal reserve banks 19, 80, 163-166 Fiscal agency departments of Federal reserve banks 167 Member banks 214 Federal Reserve Board 43, 247 National banks 215 State bank members 216 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX Exports and imports: Acceptances based on— Page Classification according to underlying commodities 76 Purchased and held by Federal reserve banks 71 Gold 88,89,90 Discussion of 3, 5, 7 Expressage, cost of, Federal reserve banks 166 Factory employment and pay rolls, index of 219 Failures, bank 26, 133, 210 Farm lands, loans secured by 118 Federal advisory council: Meetings of 42 Expenses of 166 Members of 227, 250 Recommendations of, to Federal Reserve Board 227-230 Federal intermediate credit banks: Borrowings from Federal reserve banks 71, 117, 195, 196 Discounts for 71 Debentures of, purchased by Federal reserve banks 64 Regulations of board regarding rediscount of paper for 35, 235 Federal reserve act, amendments to 36, 231 Legislation recommended 40 Federal reserve agents: Conferences of 42 Expenses of 166 Federal reserve note accounts of 81 Gold fund, summary of transactions 77, 159 Gold held by 64, 66, 67 List of 250-257 Salaries of 258-260 Federal reserve bank credit 3, 10, 17, 47-75 Chart showing 4 Discussion of 3-10 Outstanding 17, 47-49, 53-59 (See also Federal reserve banks.) Federal reserve bank notes, circulation 94 Federal Reserve Bank of Minneapolis, First State Bank of Hugo v; opinion of court in par clearance case 40, 238 Federal reserve banks: Acceptances purchased or discounted by. (See Acceptances.) Bank premises 22, 65, 79, 167 Branches and agencies of— Building operations 23, 79 Clearing operations 21, 158 Counties comprising territory 316, 317 Directors of 250-257 Expenses of 23 Managers of 250-257 Volume of operations 23, 158 Building operations 23, 79 Capital 22, 65, 66, 68 Clearing operations 21, 76, 157 Condition of. (See Condition of banks.) Deposits 50, 60-69, 145-156 Depreciation charges 22, 166 Directors and officers, list of 251-257 Discount rates. (See Discount and open-market rates.) Discounts. (See Bills discounted; discount and open-market operations.) Dividends paid 23, 80, 163, 167 Earnings and expenses 19, 80, 163-166 Earnings on bills and securities purchased 20, 80, 101 Employees, number and salaries 258-260 Examination of 26 Federal reserve notes. (See Federal reserve notes.) Fiscal agency operations 167 Franchise tax paid by 23, 80, 163, 167 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
326 INDEX Federal reserve banks—Continued. Page Gold held by 64, 66, 68 Gold redemption fund 64, 66, 68 Gold settlement fund 64, 66, 77, 159 Government deposits held by 50, 54, 65, 66 Governors— Conferences of 42 List of 250-257 Salaries of 258-260 Member-bank reserve deposits held by 50, 54, 63, 114, 117, 190 Municipal warrants, holdings of 64 Officers and directors, list of 250-257 Officers, salaries of 258-260 Profit and loss account 163, 167 Reserve percentages 50, 54 Reserves 50-69, 145 Resources and liabilities— All banks combined 63 At the end of each month 66 Each bank 68, 145-156 Weekly statement and balance sheet items 64 Salaries— Bank examiners 224 Officers and employees 258-260 Surplus 22, 65, 67, 80, 163, 167 Tax, franchise, paid to Government 23, 80, 163, 167 United States securities— Bills discounted, secured by, holdings of 64, 71, 144 Held by 20, 47, 53, 63, 64, 73, 74 Volume of operations 21, 76, 157 Federal Reserve Board: Assessment for expenses of 43, 166, 246 Clayton Act, administration of 37 Conferences with advisory council, governors, and agents 42 Directory 243 Discretion in approving the organization of foreign banking corporations, opinion of court relative to 37 Employees, number and salaries 243-245 Expenses of 43, 247 Legislation recommended to Congress 40 Members of 243 Officers, number and salaries 243-245 Platt, Edmund, reappointment as member 43 Receipts and disbursements 246 Regulations 35, 232-237 Salaries of officers and employees 243-245 Federal reserve branch banks. (See Branches and agencies.) Federal reserve currency: Cost of 20, 167, 246 (See also Federal reserve bank notes; Federal reserve notes.) Federal reserve districts: Area 310-315 Counties comprising branch territories 316, 317 Counties in divided States 310-315 Description 310-315 Map showing outline 318 Population 310-315 Federal reserve interdistrict collection system: Number of banks in 33, 78, 160, 161 (See also Check clearing and collection.) Federal reserve notes: Accounts of Federal reserve agents 81 Circulation 50, 54, 63, 65, 69, 94, 145-156 Cost of 20, 167, 246 Eligible paper held as collateral against ^ 81 Gold and gold certificates held as collateral against 64, 66, 81 Held by Federal reserve agents 81 Held by Federal reserve banks 65, 81 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX 327 Page Federal reserve policy in 1928 3-10 Fiduciary powers granted to national banks 34, 284-306 First State Bank of Hugo v. Federal Reserve Bank of Minneapolis; opinion of court; check collection transaction 40, 238-242 Fiscal agency operations of Federal reserve banks 167 Float, Federal reserve bank 47, 53-59, 66, 67 Food products, index of production 222 Foreign banking corporations: Court opinion relative to Federal Reserve Board approving organization of 37 Title of, regulations of board regarding 36, 235 Foreign banks: Balances due from, in computing reserves, advisory council on 229 Credit extended to, by Federal reserve banks 35 Discount rates 107 Due to Federal reserve banks from 47, 53, 64, 66, 68 Gold holdings 15 Foreign countries, money rates 106 Foreign securities held by member banks 119 France: Discount rates 106 Money rates 107 Franchise tax paid by Federal reserve banks to Government 23, 80, 162, 167 Freight-car loadings, index of 219 Furniture, index of wholesale trade 224 Germany: Discount rates 107 Money rates 106 Gold: Circulation 94 Earmarked by Federal reserve banks for foreign account 88 Federal reserve agents' gold fund 77, 159 Foreign loans on, held by Federal reserve banks 47-49 Held as security for Federal reserve notes 64, 66, 81 Held by Federal reserve agents 81 Held by Federal reserve banks 64, 66, 68, 81 Held by foreign central banks and Governments 15 Imports and exports 88, 89, 90 Discussion of 3, 5, 7 Reserves 7, 64, 66, 68 Stock, monetary, of the United States 85-87 Chart showing 17 Discussion of 17 Gold redemption fund 64, 66, 81 Gold settlement fund 64, 66, 77, 159 Gold standard, foreign countries 14 Government bonds. (See United States securities.) Government deposits: Held by Federal reserve banks 50, 54, 65, 66, 68 Held by member banks 112, 114, 121, 123, 127, 175 Government securities. (See United States Government securities.) Governors of Federal reserve banks: List of. 250-257 Meetings of 42 Expenses of 166 Salaries of 258-260 Great Britain. (See England.) Greece, gold standard in 14 Groceries, index of wholesale trade 224 Guardian of estates, national banks authorized to act as 34, 284-306 Hardware, index of wholesale trade 224 Imports and exports: Acceptances based on— Classification according to underlying commodities 76 Outstanding 131, 132 Purchased or discounted by Federal reserve banks 71 Gold 88,89,90 Discussion of 3, 5, 7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
328 INDEX Page* Indexes of production, employment, trade, and prices 219-224 Insurance, Federal reserve banks 166 Interest rates. (See Discount and open-market rates; Money rates.) Interlocking bank directorates, applications to serve on 37 Investments: All banks in the United States 111, 170, 174 All member banks 114, 175-186, 194 Federal reserve banks. (See Discount and open-market operations.) Reporting member banks 120, 122, 124, 126, 198, 204 Investments and loans: All banks in the United States 111, 168, 172 All member banks 114, 175-186, 192 Reporting member banks in leading cities 120, 122, 124, 126, 200 Chart showing 6 Reporting member banks in New York City, discussion of 2 Iron and steel, index of production 222 Italy: Discount rates 106 Gold standard in 14 Money rates 107 Japan: Discount rates 106 Money rates 10T Land area of Federal reserve districts 310-315 Lead production, index of 223 Leased-wire system, cost of 24& Leather production, index of 222 Legislation recommended to Congress by Federal Reserve Board 40 Liberty loan bonds: Average yield on 103 Held by Federal reserve banks 64, 73 Liquidations, bank 25 Loans: All banks in the United States 111, 169, 173 All member banks 114, 175-186, 193 Classification of 118 Reporting member banks 120, 122, 124, 126, 198, 201-203 Security 2-10, 129, 130, 202 Loans and investments: All banks in the United States 111, 168, 172 All member banks 114, 175-186, 192 Discussion of 2 Reporting member banks in leading cities 120, 122, 124, 126, 200 Chart showing 6 Reporting member banks in New York City, discussion of 2 Loans to brokers by banks in New York City 129, 130 Advisory council recommendations 230 Chart showing 3 Discussion of 2-10 Los Angeles branch bank, building operations 24 Lumber production, index of 222 Managers of branches of Federal reserve banks ; 251-257 Manufacturing production, index of 219, 222 Map outlining Federal reserve districts 317 Maturities, bills discounted by Federal reserve banks 70, 72, 144 Mclntosh, J. W., resignation of, as Comptroller of the Currency 43 Member and nonmember bank credit 1, 109-139 (See also Condition of banks; Loans and investments.) Member banks: Accommodation at Federal reserve banks 70, 197 Banker's balances 128, 209 Borrowings at Federal reserve banks 4, 117, 121, 123, 125, 127, 191, 195, 198, 208 Brokers, loans to, by banks in New York City 129, 130 Chart showing 3 Discussion of 2-10 Capital 112, 113, 114, 175 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX 329 Member banks—Continued. Page Changes in membership 24, 137, 212 Collateral notes of, discounted and held by Federal reserve banks 71, 144 Maturity of 70, 144 Condition of. (See Condition of banks.) Deposits— All banks 114, 116, 175, 187, 188, 190 Reporting banks in leading cities 121, 123, 125, 127, 205, 2C6 Reserve deposits 50, 54,60, 63, 114, 117, 190 Time and demand—• All banks 114, 116, 175, 187, 188 Reporting banks in leading cities 121, 123, 125, 127, 205, 206 Directors of, responsibilities arising out of noncompliance with reserve requirements of Federal reserve act, advisory council on 228 Dividends declared 214 Dividends paid to, by Federal reserve banks 23, 80, 162, 167 Earnings, expenses, and dividends— All member banks 214 National banks 215 State bank members 216 Failures 26, 133, 210 Investments— fj&i All banks 114, 175, 194 Reporting member banks 120, 122, 124, 126, 198, 204 Loans— All banks 114, 175, 193 Classification of 118 Reporting banks 120, 122, 124, 126, 198, 201-203 Security 2-10, 129, 130, 202 Loans and investments— All banks 114, 175-186, 192 Discussion of 2 Reporting banks in leading cities 120, 124, 126, 200 Chart showing 6 Reporting banks in New York City, discussion of 2 Loans, investments, deposits, and borrowings 120, 198 Loans on securities 202 Loans to brokers in New York City 129, 130 Discussion of 2-10 National banks— Changes in membership 24, 137, 212 Classification of loans 118 Classification of securities 119 Earnings, expenses, and dividends.- 215 Examiners, salaries of 248 Failures 26, 133, 210 Fiduciary powers granted to 34, 284-306 Number in system 24, 212 Organization 25 Resources and liabilities 112 Number accommodated through discount of paper 70, 191, 197 Number of 25, 114, 175 Number on par list 34, 78, 160, 161 Reserve balances at Federal reserve banks 114, 117, 121, 125, 127, 175, 190, 207 Reserves, adjustment of, on daily instead of semiweelky basis, advisory council on 228 Resources and liabilities— By class of bank 113 By class of member 112 By Federal reserve districts 175-186 Central reserve city banks 113 Country banks 113 On call dates, 1914-1928 114 Reserve city banks 113 41223—29 22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
330 INDEX Member banks—Continued. Page Securities— Classification of 119 Increase in holdings, discussion of 2-10 Loans on 129, 130, 202 State banks— Admissions to system 261-281 Capital 112, 261 Changes in membership 24, 137 Classification of loans 118 Classification of securities 119 Earnings, expenses, and dividends 216 Failures 26, 133, 210 Loans, investments, deposits, capital, and surplus 261-281 Number of 24, 261 Resources and liabilities 112 Suspensions 26, 133, 210 Membership in Federal reserve system: Changes in 24, 137, 212 State banks and trust companies 261-281 Memphis branch bank, building operations 23 Mergers, bank 32, 137, 212 Mineral production, index of 219, 223 Monetary gold stock of United States 85-87 Chart showing 17 Discussion of 17 Money in circulation 90-94 Money rates: Foreign countries 107 New York market 10, 105 Chart showing 10, 11 Municipal warrants purchased and held by Federal reserve banks 64 National bank examiners, salaries of 248 National banks: Changes in membership 24, 137, 212 Classification of loans 118 Classification of securities 119 Earnings, expenses, and dividends 215 Examiners, salaries of 248 Failures 26, 133, 210 Fiduciary powers granted to 34, 284-306 Number in system 25, 212 Organization 25 Resources and liabilities 112 Netherlands: Discount rates 106 Money rates 107 New York City: Brokers, loans to, by reporting member banks in 129, 130 Discussion of 2-10 Money rates 10, 103-105 Chart showing 10 Noncash items collected through Federal reserve branch banks 158 Nonmember banks: Deposits - 111, 171 Failures 27, 133, 210 Loans and investments 111, 168-170 Number on par list. 34, 78, 160, 161 Norway, gold standard in 14 Officers and directors of Federal reserve banks, list of 250-257 Officers and employees: Federal reserve banks, number and salaries 21, 258-260 Federal Reserve Board, salaries 243-245 One hundred per cent of capital and surplus, list of banks authorized to accept bills up to 307-309 Open-market committee, composition of, advisory council on 229 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX 331 Page Open-market operations of Federal reserve banks. (See Discount and open-market operations.) Open-markets rates. (See Discount and open-market rates.) Opinion of courts. (See Court opinions.) Paper and printing, index of production 222 Par collections. (See Check clearing and collection.) Par list, number of banks on 33, 78, 160, 161 Petroleum production, index of 222, 223 Platt, Edmund, reappointment of, as member of Federal Reserve Board, _ 43 Poland, Bank of, credit extended to, by Federal reserve banks 35 Pole, J. W., appointment of, as Comptroller of the Currency 43 Policy, credit, of Federal reserve system 3-10, 39, 242 Population of Federal reserve districts 310-315 Postage, Federal reserve banks, cost of 167 Prices, wholesale, index of 219 Production, index of 219, 223 Profit and loss account of Federal reserve banks 80, 162, 167 Railroad car loadings, index of 219 Rates. (See Discount rates; Money rates.) Ratio, reserve, of Federal reserve banks 50-54 Real estate, loans secured by 118 Receipts and disbursements of the Federal Reserve Board 246, 247 Receivers, national banks authorized to act as 34, 284-306 Recommendations of the Federal advisory council 227-230 Registrar of stocks and bonds, national banks authorized to act as_ 34, 284-306 Regulations of the Federal Reserve Board, revision of 35, 232-237 Minimum limitation on advances by Federal reserve banks to member banks on notes secured by Government securities, advisory council on 1 229 Regulation A 235,236 Regulation J 237 Regulation L 232-234 Revision of Regulation D, advisory council on 228 Rent paid by Federal reserve banks 166 Reporting member banks. (See Member banks.) Reserve balances of member banks 114, 117, 121, 125, 127, 175, 190, 207 By months 117, 190 Reserve cities: Condition of member banks in 113 Revision of list of, advisory council on 228 Reserve percentages, Federal reserve banks._ 50-54 Reserve requirements of member banks: Legislation regarding definition of, advisory council on 228 Responsibilities of directors of member banks arising out of noncompliance with Federal reserve act, advisory council on 228 Reserves: Deficient, penalties 80 Federal reserve banks 50-69, 145 Gold 7,64,66,68 Discussion of 7 Member banks 114, 117, 121, 125, 127, 175, 190, 207 Adjusting on daily instead of semiweekly basis, advisory council on 1 228 Resources and liabilities: Federal reserve banks— At the end of each month 66 Combined statement 63 Each bank 68 Weekly statement and balance sheet items 64 Member banks— By class of bank 113 By class of member 112 By Federal reserve districts 175-186 Central reserve city banks 113 Country banks 113 On call dates, 1914-1928 114 Reserve city banks 113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
332 INDEX Resources and liabilities—Continued. Page National banks 112 State bank members 112 Rumania, Bank of, credit extended to, by Federal reserve banks 35 Salaries: Federal reserve banks 258-260 Federal Reserve Board 243-245 National bank examiners 248, 249 San Antonio branch bank, building operations 23 Savings deposits, legislation regarding definition of, advisory council on__ 228 Securities: Held by Federal reserve banks 47, 53 Held by member banks— Classification of 119 Foreign 119 Increase in, discussion of 2-10 Loans to brokers and dealers in 2-10, 129, 130 Advisory council recommendations 230 Chart showing 3 United States— Average yield on 103, 104 Bills discounted, secured by, held by Federal reserve banks. 64, 71, 144 Certificates of indebtedness— Held by Federal reserve banks 64, 73, 75 Temporary one-day certificates held 75 Earnings on purchases by Federal reserve banks 20, 101 Held by Federal reserve banks 20, 47, 53, 63, 64, 73, 74 At end of year 73 In special investment account 74 Held by member banks 114,175-186 Liberty loan bonds purchased by Federal reserve banks 73 Minimum limitation on advances by Federal reserve banks to member banks on paper secured by, advisory council on 229 Purchase of, by Federal reserve banks, for their own account, advisory council on 227 Rates of earnings on purchases by Federal reserve banks 20, 101 Treasury bonds held by Federal reserve banks 73 Treasury notes— Average yield on 103, 104 Held by Federal reserve banks 73 Volume handled by Federal reserve banks 21, 76 Security loans, growth in, discussion of 2-10 Shoes, index of wholesale trade 224 Silver: Circulation 94 Index of production 223 State bank members: Admissions to system 261-281 Capital 112, 261 Changes in membership 24, 137, 212 Classification of loans 118 Classification of securities 119 Earnings, expenses, and dividends 216 Failures 26, 133,210 Loans, investments, deposits, capital, and surplus 261-281 Number of 25,261 Resources and liabilities 112 Supreme Court of Minnesota, opinion of, in Minneapolis par clearance case 40,238-242 Surplus: Federal reserve banks 22, 65-69,80, 162, 167 Member banks 112, 113 Suspensions, bank 26, 133, 210 Sweden, discount rates 106 Switzerland: Discount rates 106 Monev rates 107 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
UTDEX 333 Tax: Franchise, paid to Government by Federal reserve banks.»> 23, 80, 163, 167 On banking house, Federal reserve banks 166 Telegraph, leased-wire system, cost of 246 Telephone and telegraph expense of Federal reserve banks 166 Textiles, index of production. 222 Time and demand deposits of member banks: All banks 114, 116, 175, 187 Reporting banks in leading cities 121, 123, 125, 205, 206 Tires, rubber, index of production 222 Title of foreign banking corporation, regulations regarding 36, 235 Tobacco manufactures, index of production 222 Trade acceptances: Classification according to underlying commodities 76 Held by Federal reserve banks 71, 144 Purchased by Federal reserve banks in open market 71 Trade, wholesale^ index of 219, 224 Treasury bonds held by Federal reserve banks 73 Treasury certificates of indebtedness: Held by Federal reserve banks 64, 73, 75 Temporarv 1-day certificates 75 Yield on-I 103, 104 Treasury notes: Circulation 94 Held by Federal reserve banks 64, 73 Yield on - 103, 104 Trust companies. {See State banks.) Trust powers granted to national banks 34, 284-306 United States District Court of New York, opinion of, relative to discretion of Federal reserve system in matters relating to credit policies. _ 39, 242 United States Government, franchise tax paid to, by Federal reserve banks, 23, 80, 163,167 Unites States Government securities: Average yield on 103, 104 Bills discounted, secured by, held by Federal reserve banks 64, 71,144 Certificates of indebtedness— Held by Federal reserve banks 64, 73, 75 Temporary 1-day certificates 75 Yield on 103, 104 Earnings on purchases by Federal reserve banks 20, 80, 101 Held by Federal reserve banks 20, 47, 53, 63, 64, 73, 74 At end of year -_ 73 Chart showing 4 In special investment accounts 74 Held by member banks 114, 175-186 Liberty loan bonds purchases by Federal reserve banks 73 Minimum limitation on advances by Federal reserve banks to member banks on paper secured by, advisory council on 229 Purchase of, by Federal reserve banks for their own account, advisory council on 227 Rates of earnings on purchases by Federal reserve banks 20, 80, 101 Treasury bonds held by Federal reserve banks 73 Treasury notes— Average yield on 103, 104 Held by Federal reserve banks 73 Volume handled by Federal reserve banks 20, 76, 157 United States notes in circulation 94 Warrants, municipal, held by Federal reserve banks 64 Wholesale prices, index of 219 Wholesale trade, index of __ 219, 224 Withdrawals from membership in Federal reserve system 25, 137, 212 Zinc, index of production „-_ 223 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Cite this document
Federal Reserve (1927, December 31). Annual Report of the Federal Reserve Board, 1928. Annual Reports, Federal Reserve. https://whenthefedspeaks.com/doc/annual_report_1928
@misc{wtfs_annual_report_1928,
author = {Federal Reserve},
title = {Annual Report of the Federal Reserve Board, 1928},
year = {1927},
month = {Dec},
howpublished = {Annual Reports, Federal Reserve},
url = {https://whenthefedspeaks.com/doc/annual_report_1928},
note = {Retrieved via When the Fed Speaks corpus}
}