Annual Report of the Federal Reserve Board, 1930

SEVENTEENTH ANNUAL REPORT OF THE FEDERAL RESERVE BOARD COVERING OPERATIONS FOR THE YEAR 1930 UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1931 Digitized foFr oFr RsaAleS bEyR th e Superintendent of Documents, Washington, D. C. Price 35 cents http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

THE FEDERAL RESERVE BOARD DECEMBER 31, 1930 EX OFFICIO MEMBERS EUGENE MEYER, Governor. , Vice Governor. A. W. MELLON, CHARLES S. HAMLIN. Secretary of the Treasury, Chairman, ADOLPH C. MILLER. J. W. POLE, GEORGE R. JAMES. Comptroller of the Currency. WALTER L. EDDY, Secretary. E. A. GOLDENWEISER, E. M, MCCLELLAND, Assistant Secretary. Director, Division of Research and J. C. NOELL, Assistant Secretary. Statistics. CARL E. PARRY, Chief, Division of Examination, and Assistant Director, Division of Re- Chief Federal Reserve Examiner. search and Statistics. WALTER WYATT, General Counsel. E. L. SMEAD, W. M. IMLAY, Fiscal Agent. Chief Division of Bank Operations. } Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS TEXT OF REPORT Page Federal reserve credit 1 Gold 5 Currency 7 Member bank credit 8 Earnings, expenses, and volume of work of the Federal reserve banks 12 Building operations of Federal reserve banks 15 Branches and agencies of the Federal reserve banks 15 Changes in membership 16 Bank examinations 17 Bank suspensions 17 Branch and group banking 18 Bank mergers 21 Banks on par list 22 Trust activities of national banks 23 Changes in the board's regulations 23 Amendments to the Federal reserve act 25 Administration of the Clayton Act 27 Meetings of Federal Advisory Council 28 Conferences held by the Federal Reserve Board 28 Board's organization, staff, and expenditures 28 TABLES FEDERAL RESERVE BANK CREDIT RESERVE BANK CREDIT AND FACTORS IN CHANGES: No. 1. Annual averages, 1918-1930 31 No. 2. Monthly averages, 1918-1930 32-34 No. 3. Weekly averages 35 No. 4. By weeks (Wednesday series), 1929-30 36-37 RESERVE BANK CREDIT: No. 5. Reserve bank credit outstanding, annual averages, 1915-1930_ 38 No. 6. Reserve bank credit outstanding, by months, 1922-1930 38-39 No. 7. Deposits, reserves, note circulation, and reserve percentages of Federal reserve banks, by months, 1926-1930 40 No. 8. Principal resources and liabilities of Federal reserve banks, by weeks 41 No. 9. Resources and liabilities of Federal reserve banks, in detail, December 31, 1930. 42-43 No. 10. Resources and liabilities of Federal reserve banks at the end of each month 44-45 No. 11. Condition of each Federal reserve bank at end of 1929 and 1930 46-47 No. 12. Number of member banks discounting paper at Federal reserve banks, by months, 1914-1930 48 No. 13. Bills discounted by Federal reserve banks—Holdings at the end of each month, by classes 49 in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

IV CONTENTS RESERVE BANK CREDIT—Continued. Page No. 14. Bills bought by Federal reserve banks—Holdings at the end of each month, by classes 49 No. 15. Holdings of bills discounted and bills bought by Federal reserve banks, by maturities 50 No. 16. Holdings of United States securities by Federal reserve banks at the end of each year, 1926-1930, by classes. 51 No. 17. Holdings by Federal reserve banks of United States securities in system investment account, under resale agreement, etc. (average basis), 1923-1930 52-53 No. 17a. Holdings by Federal reserve banks of United States securities in system investment account, under resale agreement, etc. (Wednesday basis), 1923-1930 54-57 2To. 18. Holdings by Federal reserve banks of temporary one-day certificates of indebtedness issued by the United States Treasury, 1924-1930 58 VOLUME OP OPERATIONS OF FEDERAL RESERVE BANKS: No. 19. Volume of operations in principal departments, 1926-1930- - 59 GOLD SETTLEMENT FUND: No. 20. Summary of transactions through the fund, 1924-1930 60 FEDERAL RESERVE AGENTS' FUND: No. 21. Summary of transactions through the fund, 1924-1930 60 MEMBERSHIP IN PAR COLLECTION SYSTEM: No. 22. Number of banks on par list and not on par list, 1923-1930-- 61 FEDERAL RESERVE BANK PREMISES: No. 23. Cost of premises of Federal reserve banks and branches to December 31, 1930 62 EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS: No. 24. Gross and net earnings and disposition made of net earnings, 1914-1930 --- 63 No. 25. Earnings, by sources, 1914-1930 63 FEDERAL RESERVE NOTES: No. 26. Federal reserve agents'accounts at the end of each month-- 64 GOLD STOCK, GOLD MOVEMENTS, AND MONEY IN CIRCULATION GOLD: No. 27. Monetary gold stock of the United States, by months, 1914- 1930 67 No. 28. Gold earmarked by Federal reserve banks for foreign account, by months, 1916-1930- 68 No. 29. Gold imports and exports, by countries, 1927-1930 68 No. 30. Gold imports and exports, by months, 1921-1930-.. 69 MONET IN CIRCULATION: No. 31. United States money in circulation, by months, 1914-1930-- 70 No. 32. Kinds of money in circulation, by months, 1928-1930 - 71 DISCOUNT RATES AND MONEY RATES DISCOUNT RATES AND MONEY RATES: No. 33. Federal reserve bank discount rates on all classes and maturities of discounted bills—Changes from January 1, 1922, to December 31, 1930 - -- 75-76 No. 34. Federal reserve bank buying rates on acceptances—Changes from January 1, 1922, to December 31, 1930 --_ 77-78 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS V DISCOUNT RATES AND MONEY RATES—Continued. Page No. 35. Average rates earned by Federal reserve banks on bills and securities, 1917-1930 79 No. 36. Open-market rates in New York City, by months, 1926-1930. 80 No. 37. Open-market rates in New York City, by weeks 81 No. 38. Money rates in New York City—Prevailing rates charged customers, by months, 1926-1930 82 No. 39. Rates charged customers by banks in principal cities (weighted averages), 1919-1930 83 FOREIGN RATES: No. 40. Discount rates at central banks in foreign countries—Changes from January 1, 1926, to December 31, 1930 84 No, 41. Open-market rates in foreign countries, by months, 1926- 1930 85 MEMBER AND NONMEMBER BANK CREDIT ALL BANKS IN THE UNITED STATES: No. 42. Loans and investments of member and nonmember banks, 1914-1930 89 No. 43. Deposits of member and nonmember banks (exclusive of interbank deposits), 1914-1930 90 ALL MEMBER BANKS: No. 44. Resources and liabilities of national and State bank members. 91 No. 45. Resources and liabilities of reserve city and country banks._ 92 No. 46. Classification of member bank loans and investments on call dates, 1928-1930 93 No. 47. Principal resources and liabilities on call dates, 1914-1930.. 94-95 No. 48. Deposits subject to reserve, reserves required, reserves held, and borrowings at Federal reserve banks, by months 96 No. 49. Reserve balances, by months, 1919-1930 97 No. 50. Borrowings at Federal reserve banks, by months, 1914-1930. 97 REPORTING MEMBER BANKS IN LEADING CITIES: No. 51. Loans, investments, deposits, reserves, and borrowings at Federal reserve banks, by months, 1919-1930 98-99 No. 52. Principal resources and liabilities, by weeks, 1927-1930 100-107 No. 53. New York City banks—Principal resources and liabilities, by weeks, 1927-1930 108-115 No. 54. Banks outside New York City—Principal resources and liabilities, by weeks, 1927-1930 116-123 No. 55. Bankers' balances, by weeks: Total, New York City, other leading cities 124 BROKERS' LOANS: No. 56. Loans to brokers and dealers, secured by stocks and bonds, made by reporting member banks in New York City, by weeks _ 125 No. 57. Brokers1 borrowings, 1926-1930, as reported by New York Stock Exchange.. 126 No. 58. Member bank loans to brokers in New York City, 1928-1930 1. 127 No. 59. Member bank loans to brokers outside New York City, 1928-1930 127 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

VI CONTENTS BANKERS* ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING: page No. 60. Bankers' acceptances and commercial paper outstanding 128 No. 61. Bankers' acceptances outstanding, by classes 128 No. 62. Bankers' acceptances held by accepting banks, 1925-1930._ 129 No. 63. Purchased acceptances held by member banks, call dates 1928-1930 129 No, 64. Distribution of bankers' acceptances outstanding, by months- 129 BANK DEBITS: No. 65. Debits to individual accounts by banks in 141 principal cities, by months, 1921-1930 130 BANK SUSPENSIONS: No. 66. Banks suspended and reopened, by years, 1921-1930 131 No. 67. Bank suspensions, by months, 1926-1930 132 No. 68. Bank suspensions: Number, classified according to capita] stock, 1921-1&30 133 No. 69. Bank suspensions: By size of town or city, 1921-1930 133 CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM: No. 70. Summary of changes, by years, 1926-1930 134 No. 71. Changes, by class of member, 1929 and 1930 134 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS,, 1923-1929: No. 72. Earning assets, capital funds, and profits 135 No. 73. Ratios of earnings, expenses, etc., to average earning assets. 135 No. 74. Earnings, expenses, and dividends 136 BANKING CONDITIONS IN FEDERAL RESERVE DISTRICTS AND STATES CONDITION OF EACH FEDERAL RESERVE BANK: No. 75. Bills discounted for member banks—Holdings, by months, 1926-1930 139 No. 76. Discounted bills—Holdings on December 31, 1930, by classes 140 No. 77. Discounted bills—Holdings on December 31, 1930, by maturities 140 No. 78. Principal resources and liabilities, by weeks 141-152 VOLUME OF OPERATIONS OF EACH FEDERAL RESERVE BANK: No. 79. In principal departments „__ 153 No. 80. In branches 154 GOLD SETTLEMENT FUND: No. 81. Summary of transactions through the fund, by districts 155 FEDERAL RESERVE AGENTS' GOLD FUND: No. 82. Summary of transactions through the fund, by districts 155 MEMBERSHIP IN PAR COLLECTION SYSTEM: No. 83. Number of banks on par list and not on par list, by districts _ 156 No. 84. Number of banks on par list and not on par list, by States, December 31, 1929 and 1930 _ 157 EARNINGS AND EXPENSES OF EACH FEDERAL RESERVE BANK: No. 85. Gross and net earnings and disposition made of net earnings, 1914-1930 -_ 158-161 No. 86. Earnings and expenses in detail 162-163 CONDITION OF ALL BANKS IN EACH DISTRICT, 1923-1930: No. 87. Total loans and investments 164 No. 88. Totalloans. 165 No. 89. Investments 166 No. 90. Deposits (exclusive of interbank deposits) 167 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS VII CONDITION OP ALL BANKS, BY STATES, 1925-1930: Page No. 91. Total loans and investments _ 168 No. 92. Total loans..- 169 No. 93. Investments _ .-. 170 CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT: No. 94. Principal resources and liabilities, on call dates, 1922-1930- 171-182 No. 95. Net demand and time deposits, by months 183 No. 96. Reserve balances, by months, 1927-1930 -.._ 184 No. 97. Borrowings at Federal reserve banks, by months, 1929 and 1930 - 185 No. 98. Number of member banks discounting paper at Federal reserve banks, 1923-1930 185 No. 99. Classification of loans and investments on call dates 186-187 CONDITION OP ALL MEMBER BANKS, BY STATES: No. 100. Total loans and investments, 1928-1930 188 No. 101. Total loans, 1928-1930 189 No. 102. Loans to customers, open-market loans, 1928-1930 190-191 No. 103. Investments, 1928-1930 . 192 No. 104. Borrowings at Federal reserve banks, by States, 1930 193 No. 105. Number of member banks discounting paper at Federal reserve banks, 1923-1930 - 194 CONDITION OF REPORTING MEMBER BANKS IN EACH DISTRICT: No. 106. Total loans and investments, by weeks 195 No. 107. Total loans, by weeks !... 196 No. 108. Loans on securities, by weeks 197 No. 109. All other loans, by weeks 198 No. 110. Investments, by weeks 199 No. 111. Net demand deposits, by weeks 200 No. 112. Time deposits, by weeks.. 201 No. 113. Reserve balances, by weeks 202 No. 114. Borrowings at Federal reserve banks, by weeks 203 BANKERS' BALANCES OF REPORTING MEMBER BANKS, BY DISTRICTS: No. 115. Amounts due to banks, 1929 and 1930, by months.. 204 No. 116. Amounts due from banks, 1929 and 1930, by months 204 BANK SUSPENSIONS: No. 117. Banks suspended and reopened, by districts 205 No. 118. Banks suspended and reopened, by States 206 EARNINGS, EXPENSES, AND DIVIDENDS OP MEMBER BANKS, 1926-1930: No. 119. All member banks, by districts-. 207 No. 120. National banks, by districts _ 208 No. 121. State member banks, by districts 209 BUSINESS CONDITIONS CAPITAL ISSUES AND SECURITY PRICES: No. 122. Capital issues, 1922-1930 _ _ 213 No. 123. Security prices, 1919-1930.. 214 INDEX NUMBERS OP PRODUCTION, EMPLOYMENT, TRADE, AND PRICES: No. 124. Production, employment, and trade, 1919-1930 215-217 No. 125. Production of manufactures, by groups 218 No. 126. Production of minerals, by products 219 No. 127. Factory employment, by groups. _ 220-222 No. 128. Factory pay rolls, by groups 223 No. 129. Wholesale prices, by groups of commodities, 1913-1930 224 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS APPENDIX Page Kecommendations of the Federal Advisory Council 227-228 Amendments to the Federal reserve act 229-231 Regulations of the Federal Reserve Board 232-272 Directory of the Federal Reserve Board 273 Salaries of officers and employees of the Federal Reserve Board 273-275 Receipts and disbursements of the Federal Reserve Board 276-277 Salaries of national-bank examiners 278-280 Directory of the Federal Advisory Council 280 Governors and directors of Federal reserve banks 281-288 Salaries of officers and employees of Federal reserve banks 289-291 State bank and trust company members of Federal reserve system: List of members, with location, loans, investments, etc 292-309 Summary classification according to capital stock 310-312 Fiduciary powers granted to national banks. 313-337 Banks authorized to accept bills up to 100 per cent of capital and surplus 338-340 Description of Federal reserve districts 341-346 Description of Federal reserve branch territories 347-348 Map of Federal reserve districts. 349 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

LETTER OF TRANSMITTAL FEDERAL RESERVE BOARD, Washington, February 25, 1931. To the SPEAKER OF THE HOUSE OF REPRESENTATIVES : Pursuant to the requirements of section 10 of the Federal reserve act, I have the honor to submit the Seventeenth Annual Report, prepared by direction of the Federal Reserve Board, covering operations during the calendar year 1930. Yours respectfully, EUGENE MEYER, Governor. IX Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD The year 1930 was marked by reduced demand for bank credit from trade and industry and by decreasing commodity prices and money rates, all characteristic of a period of declining activity in business. In these circumstances the Federal reserve system pursued a policy of monetary ease. This policy was expressed through the purchase at intervals of additional United States Government securities and in progressive reductions of reserve bank discount and acceptance rates. Other influences contributing to monetary ease in the United States were gold imports in large volume from Latin America and the Orient, and a diminished domestic demand for currency throughout the larger part of the year, caused by the decline in business activity and in the level of commodity prices. The inflow of gold from abroad and of currency from circulation had the effect of reducing the volume of reserve bank credit outstanding during the year. Member and nonmember bank credit also declined, reflecting a reduction in the demand for loans from the banks' customers engaged in trade and industry, which was offset only in part by an increase in the banks' holdings of investment securities and of paper purchased in the open market. Bank failures were in larger number in 1930 than in previous years, most of the failures being of small rural banks that had been in a weakened condition for some time; but there were also a few failures of large city banks that had accumulated unliquid loans and suffered losses in recent years through operations based directly or indirectly on overvalued real estate and securities. FEDERAL, RESERVE CREDIT Money rates, which for more than a year prior to October, 1929, had been on a rising level—owing largely to the rapid growth in the demand for credit to finance speculative activities in many lines and in different sections of the country—declined after the autumn break in the financial markets of the country. Industrial activity, which had reached a peak in June, 1929, also declined in the latter part of that year, particularly in the last two months, and the level of commodity prices showed a sharp recession. The Federal reserve system during the last two months of 1929 purchased $350,000,000 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD of United States securities and reduced discount and acceptance rates. During 1930 further purchases of United States securities were made at intervals and rates for discounts and acceptances were reduced by successive steps, as noted below. The chart below shows the course of Federal reserve bank credit and its components during 1929 and 1930. During the month of March, 1930, holdings of securities increased to $530,000,000 and remained at that figure to the end of May. During the summer months these holdings were increased to $600,000,000 and remained at about that figure until December, when additional purchases of a temporary nature were made, partly for the purpose MILLIONS OF DOLLARS MILLIONS OF DOLLARS 2000 RESERVE BANK CREDIT 2000 ( Weekly Averages of Daily Figures ) 1500 1500 1000 1000 500 1929 1930 of counteracting the tightening effect of seasonal credit and currency demands upon the money market and partly in connection with disturbances in the banking situation. Acceptance holdings of the reserve banks, which were at about $390,000,000 at the opening of the year, declined during the first six months, when seasonal influences are in this direction, and reached a low level of $100,000,000 by the end of June. This decline in bill holdings was due in part to the fact that, with the abundance of short-time funds in the money market, bills offered an attractive investment for banks and others, and bill offerings to the reserve banks consequently declined. From midsummer reserve bank holdings of bills showed a seasonal expansion, and at the close of the Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD & year they were at about the same figure as at the end of 1929. During the larger part of- the crop-marketing season, however, when these holdings usually show the greatest increase of the year, the system's holdings of acceptances increased less than usual, largely because of considerable purchases of bills by member banks. Toward the end of November member bank holdings of acceptances reached the unprecedented total of $500,000,000, and the member banks were accordingly enabled in the last weeks of the year to obtain a considerable part of their seasonal requirements through the sale of acceptances to the reserve banks, and the reserve banks'9 holdings of open-market bills consequently increased rapidly in December. During the autumn, when the export movement of agricultural commodities is at its peak, the Federal reserve banks in 1930, as in 1929, bought moderate amounts of foreign exchange bills, which were carried over the year end. The growth in the open-market portfolio of the reserve banks in a year when the total demand for reserve bank credit was relatively small and was not increasing resulted in a reduction of member bank indebtedness, which between the middle of March and the latter part of November was around the lowest level for any length of time since 1917. Discounts remained at approximately $225,000,000 from April to December, but rose to a maximum of $450,000,000 on the day preceding Christmas, when currency demand reached its seasonal peak and when a large volume of currency had been called into use in connection with bank failures. This temporary rise was followed by a rapid liquidation after the holiday demand was over. While discounts for all member banks were at a low level throughout the year, banks in the financial centers were practically out of debt during a considerable part of the year. This low level of indebtedness at the reserve banks was an influence in the direction of easier money conditions, which were reflected in lower rates both on open-market paper and on loans made by banks to their customers. The chart brings out the course of money rates for the years 1919 to 1930, showing that the rates in the latter part of 1930 were lower than at any other time during the 12-year period covered. Rates on acceptances fell from 5% per cent in the autumn of 1929 to 1% per cent at the close of 1930; rates on commercial paper from §y± to 2% per cent, while call money was around 2 per cent, frequently falling below that level in the last six months of the year. Kates charged to customers by banks in New York City, which from August through October, 1929, had been above 6 per cent, had dropped to 4% per cent by the end of 1930. The year, therefore, was one of low rates for money. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPOBT OF THE FEDERAL RESERVE BOARD Between October, 1929, and the early days of 1931 discount rates at the reserve banks were reduced from 6 to 2 per cent at the Federal Reserve Bank of New York; from 5 to 2y per cent at Boston; 2 from 5 to 3 per cent at Cleveland, Atlanta, Chicago, St. Louis, and PER'CENT MONEY RATES IN NEW YORK CITY Call Money Commercial Paper Bankers 'Acceptances 1919 1920 1921 1922 1923 \)V* 1925 1926 1927 1928 1929 1930 San Francisco; and from 5 to 3% per cent at Philadelphia, Richmond, Minneapolis, Kansas City, and Dallas. The following table shows the change in discount rates between October 31, 1929, and January 10, 1931: CHANGES IN* DISCOUNT RATES Rate in Rate in Federal reserve bank October, January, Date of latest 1929 1931 reduction (per cent) (per cent) Boston __ 5 Jan. 2,1931. New York— 6 2 Dec. 24, 1930. Philadelphia- 5 July 3, 1930. Cleveland 5 3 Dec. 29,1930. Richmond 5 3H July 18, 1930. Atlanta 5 3 Jan. 10, 1931. Chicago 5 3 Do. St. Louis 5 3 Jan. 8, 1931. Minneapolis.. 5 ZYi Sept. 12, 1930. D K Sa a a n l n l s a F a s r s a n C c it i y sc — o 5 5 5 2 2 3 > > y Y 2 2 A J S a e u n p g . t . . 9 1 , 9 5 1 , , 9 1 1 3 9 9 1 3 3 0 . 0 . . Notwithstanding these reductions in rates and the purchase of securities by the reserve banks, the total volume of reserve bank Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD credit declined during the year and from May to October was near the $1,000,000,000 level, as compared with an average of $1,375,000,000 during the corresponding period of 1929. This decrease in reserve bank credit reflected a gradual increase in the stock of monetary gold, which for the year amounted to $310,000,000, and a decline of currency in circulation through the larger part of the year, while member bank reserve balances remained relatively constant. Changes MILLIOMS OF DOLLARS MILLIONS OF DOLLARS 5500 5500 RESERVE BANK CREDIT AND PRINCIPAL FACTORS IN CHANGES ( Weekly Averages of Daily Figures ) 5000 5000 4500 4500 4000 2500 Member Bank Reserve Balances 2000 2000 1500 1500 1000 1000 500 1929 1930 in the three principal factors affecting the amount of reserve bank credit outstanding, namely, gold, currency, and member bank reserve requirements, are shown for 1929 and 1930 in the chart, and will be discussed in some detail in the following paragraphs. GOLD During 1930, $310,000,000 was added to the stock of monetary gold in the United States, bringing the weekly average figure at the close of the year to $4,590,000,000. This amount was within less than $100,000,000 of the peak figure of May, 1927. The latter part of 1927 had been marked by easy money conditions in the United Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD States, and this fact, together with the restoration of the French franc and other currencies to the gold standard, had led to a heavy outward movement of gold that continued through the first half of 1928. During 1928, however, money rates advanced in this country; and early in 1929 the movement of gold became definitely inward, with the result that in the first 10 months of 1929 the monetary gold stock of the United States rose by $238,000,000. This movement was abruptly terminated by the break in the stock market at the end of October and the rapid decline of money rates which followed, and in the final two months of the year $100,000,000 of gold was exported, but early in 1930 gold again began to flow to the United States. The circumstances surrounding the renewed influx of gold in 1930 differed in important respects from those which had influenced preceding movements. With the exception of two months in the summer, when gold was shipped fo France, the movement to Europe ceased. This was largely on account of the fact that money rates abroad, which had been kept up to protect the reserves of foreign countries against the attraction of speculative and high-money conditions in the United States, declined rapidly late in 1929, when these conditions changed. By the beginning of 1930 a temporarily balanced situation had developed as between this country and Europe, in which gold moved in neither direction. On the other hand, gold flowed into the United States from Japan, China, Brazil, Argentina, and other Central and South American countries, and gold flowed into England from South America and Australia. In general, the movement of gold was one from outlying countries producing raw materials to the financial centers and bore no significant relation to differentials in money rates. The difficulties in which the outlying countries found themselves reflected chiefly a decline in the value of many of their most important commodity exports, as well as the effects of a long period of conditions in the United States unfavorable to the flotation of foreign bonds. In Japan the immediate cause of the loss of gold was the removal on January 11, 1930, of the embargo on exports of the metal—a necessary final step in the return of the country to the gold standard. In Argentina, on the other hand, the redemption of notes in gold at the Government conversion office was discontinued on December 16, 1929, and by this means gold exports were prevented during the greater part of the year, and when they were resumed in the autumn of 1930 they were strictly controlled and for account of the Government only. In Australia, also, measures were taken in December, 1929, to make the shipment of gold subject to the discretion of the central authorities. In Brazil the de facto stabilization of the cur- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 7 rency was abandoned at the close of 1929, and the Government stabilization office was abolished altogether on November 22, 1930. China, a silver-using country, was affected by the sharp appreciation of gold in terms of silver and the consequent barter of gold for silver. Japan continued to maintain an effective gold standard with a free gold market; but in Japan, as in the other countries mentioned, the pressure of the declining value of commodity exports, in conjunction with continued inability to borrow in volume abroad, resulted in gold exports as the only means for covering foreign payments. In these circumstances the United States received, during 1930, $157,000,000 gold from Japan, $88,000,000 from Brazil, $23,000,000 from China, $21,000,000 from Mexico, $20,000,000 from Argentina, and $36,000,000 from other Central and South American countries. England during the 15 months ending with December, 1930, acquired $136,000,000 of gold from Australia, $44,000,000 from Brazil, and $43,000,000 from Argentina. In all, $568,000,000, an amount substantially in excess of the total production of the gold mines of the world during 1930, was thus transferred to the monetary gold stocks of the more important financial centers. Of the gold, amounting to $345,000,000, received by the United States from these outlying countries, $74,000,000 was shipped to France. The gold received from similar sources by England, as well as $209,000,000 of newly mined gold received during the year from Rhodesia and South Africa, was largely exported to France. CURRENCY Another of the principal factors affecting changes in the demand for reserve bank credit is the course of domestic demand for money in circulation. A chart is here presented showing the volume of money in circulation from 1926 to 1930. The chart shows that the volume of United States money in circulation has been decreasing continuously since 1926. Up to 1929 this decrease was not due to any considerable extent to a decline in the volume of pay rolls or retail trade, usually the two principal factors of currency demand, but represented partly a decrease in the cash carried by banks in vault, a return flow of American currency from abroad, and a gradual increase in the use of checks as a substitute for cash payments. In 1930, on the other hand, the rapid decrease in currency in circulation and its maintenance in the autumn months at a level about $300,000,000 below that of 1929 reflected the effects of the slowing down in business activity. The chart on page 9 shows the course of industrial production and factory employment from 1919 to 1930. By the end of 1930 factory pay rolls had declined by 35 per cent from 33454—31 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD the peak of 1929, and retail trade was also in smaller volume as a result of a decline both in physical volume of trade and in retail prices. For the first 10 months of the year the return flow of currency from circulation was the largest single factor in the diminished demand for reserve bank credit. During the last two months of the year, however, the demand for currency rose by nearly $500,000,000, a much larger increase than is usual during the holiday season, even in years of active business. This rapid increase in November and MONEY IN CIRCULATION MILLIONS OF DOLLARS MILLIONS OF A DOLLARS 5200 ~C Weekly Averages ofDa/Iy Figures Y~ 5200 5100 •m 5100 5000 4900 4800 4700 4600 4500 4500 4400 4400 4300 L.. I I 1 1 I I 1 1 1 1 ....J 4300 «!AN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. December, in excess of seasonal requirements, was due to the failure of several large banks, which resulted in runs on other banks and currency withdrawals, together with an increase of bank holdings of vault cash as part of the process of maintaining an exceptionally liquid position. As a consequence of these developments, the amount of currency outstanding, which in October had been $300,000,000 lower than the year before, was at the end of 1930 as large as at the end of 1929. MEMBER BANK CREDIT Taking the year 1930 as a whole, there was relatively little change in the aggregate volume of reserve balances held by the member banks with the reserve banks—the other important factor in the demand for reserve bank credit—and the factor that is directly related Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 9 to changes in the volume of member bank credit. The absence of change in member bank reserve balances during the year was due to the maintenance at the member banks of a fairly constant volume of demand and time deposits, on which the member banks' reserve requirements are based. Loans and investments of the banks, however, showed a considerable decline during the year, as the demand for credit by trade and industry diminished with the slackening of business activity. In considering developments in member bank INDUSTRIAL PRODUCTION AND FACTORY EMPLOYMENT INDEX NUMBERS; ADJUSTED FOR SEASONAL VARIATION, 1923-25=100 50 1919 1920 1921 1922 1923 192^ 1925 1926 1927 1926 1929 credit, the 15-month period from October 4, 1929—the date of the last report for all member banks prior to the break in the stock market—to the end of 1930 may be treated as a unit. The following table shows changes in the principal asset items of the member banks during that 15-month period: CHANGES IN ASSETS OF MEMBER BANKS—OCTOBER 4, 1929-DECEMBER 31, 1930 [In millions of dollars] Member banks in— Member All mem- banks outber banks New York Other re- side reserve City serve cities cities Loans and investments, total -1,054 +432 -226 -1#261 Loans to banks -10 -19 -8 +17 Loans to other customers, total -2,243 -865 Secured by stocks and bonds -167 +192 -213 -146 Secured by real estate. +81 -28 +139 Otherwise secured and unsecured -2,157 -672 -795 Open-market loans, total -42 +330 +5 -376 Acceptances +207 +119 +113 -24 Commercial paper +138 +26 +137 -25 Street loans -387 +185 -245 -327 Investments +1,240 +629 +647 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

10 ANNUAL REPORT OF THE FEDERAL, RESERVE BOARD During the 12 months beginning in October, 1929, there was a large liquidation of loans to customers, and particularly of loans to trade and industry, reflecting the effects of reduction in current credit requirements at a time of diminished business activity. The heavy liquidation of local customer loans was largely offset during that period by an increase in investments and in open-market loans, including acceptances, commercial paper, and street loans. The increase in street loans during that time represented that part of the loans withdrawn by nonbanking lenders that was taken over by the banks after the break in security prices. By the final quarter of 1930, however, these loans had declined to a small figure, and continued liquidation of security loans was reflected in a reduction of street loans by member banks for their own account, which at the end of the year were at a level $400,000,000 lower than before the break in the stock market. During the last quarter of 1930 there was little further liquidation of customer loans, but street loans continued to decline as the demand for accommodation from the stock market decreased, with the net result that loans and investments of member banks during the 15-month period decreased in all by $1,050,000,000. This decrease in total loans and investments of all member banks was not equally distributed between different groups of banks. At member banks in New York City total loans and investments showed an increase of $432,000,000 for the 15-month period, while member banks in other reserve cities showed a decrease of $226,000,000, and member banks outside reserve cities—so-called " country banks "— a decrease of $1,261,000,000. The largest decreases in all classes of banks were shown for loans made to customers, not secured by stocks and bonds or real estate, the decrease in these loans during the 15 months reflecting largely the reduction in volume of business activity. Loans to customers secured by stocks and bonds increased at New York banks, but decreased in the other groups of banks. The open-market loan portfolio of member banks showed relatively little change for the period, a considerable increase at New York City banks being somewhat more than offset by a decrease at country banks. Bank holdings of purchased acceptances and openmarket commercial paper, however, increased in New York and in the other reserve cities, though they diminished outside of these cities. Loans to brokers and dealers in securities in New York, so-called "street loans," were at a somewhat higher level at New York City banks at the end of 1930 than on October 4, 1929, reflecting the taking over by these banks of a part of the loans previously made by nonbanking lenders; at the other two groups of banks these loans showed a large liquidation. Finally, the banks' holdings of investments increased in the aggregate by $1,240,000,000, reflecting Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 11 increases of more than $600,000,000 both at the New York City banks and at other reserve city banks, while at country banks they showed a small reduction. At country banks there was in fact a liquidation all along the line. A part of it was due to the elimination of banks through suspensions, but there has also been a large-scale liquidation of credit at active banks in country districts, reflecting diminished activity of trade and industry in rural areas and a decline in deposits due in part to decreases in the value of agricultural products marketed, resulting both from a smaller volume of sales and a considerable reduction in the prices of principal crops. The liquidation of member bank credit during the 15 months ending in December, 1930, was accompanied by an even larger liquidation of nonmember bank credit. The latest figures available for nonmember banks show a decrease of $800,000,000 between October 4, 1929, and September 24, 1930. If the relation of the decrease in nonmember bank credit and in member bank credit may be assumed to have remained approximately the same during the last quarter, then the total decrease in bank credit outstanding for the 15-month period was in the neighborhood of $3,000,000,000. A part of this decrease in bank credit has been due to bank suspensions during the period, and represents the elimination from the aggregate resources of active banks of the resources of failed banks that have not been gradually absorbed in one way or another by other banks. In addition to the reduction of about $3,000,000,000 in outstanding bank credit during the 15-month period, there was also a liquidation of about $5,500,000,000 of loans by nonbanking lenders to brokers and dealers in securities. Consequently, total liquidation of credit extended by banks and by others through the banks has amounted to $8,500,000,000 for the period. For the banks of the country the period of 15 months ending in December of 1930 was one of readjustment and liquidation. Through the experience of this period and of the preceding few years many important problems connected with the structure and functioning of our banking system are becoming more clearly defined. These problems are at present receiving consideration by congressional committees. Since these committees are conducting investigations with a view to determining the need of legislative and administrative reforms, the Federal Eeserve Board refrains in this annual report from making recommendations to Congress. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

12 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD DETAILS OF OPERATION In the preceding pages there has been presented a brief discussion of business and banking developments in 1930 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 1930. EARNINGS, EXPENSES, AND VOLUME OF WORK OF THE FEDERAL RESERVE! BANKS During 1930 the gross earnings of the Federal reserve banks, at $36,424,000, were $34,531,000 less than in 1929 and the lowest since 1917. The deduction of current expenses of $28,343,000—somewhat less than the previous year—and adjustments for depreciation, reserves for losses and self-insurance, resulted in net earnings of $7,988,000 available for distribution as dividends, transfers to surplus, and franchise tax to the Government. Earnings, expenses,, and distribution of earnings for all reserve banks combined for 1929 and 1930 are summarized in the accompanying table. EABNINGS AND EXPENSES OF FEDERAL RESERVE BANKS DURING 1929 AND 1930 [In thousands of dollars] Increase or 1930 1929 decrease (—) 1930 Total earnings 36,424 70,955 -34,531 Current expenses 28, 343 29, 691 -1,348 Current net earnings _ _- 8,081 41,264 -33,183 Additions (withdrawals from reserves, etc.)-- - - - 3,475 956 2,519 Deductions (for reserves, etc.) _- 3,568 5,817 -2,249 Net deductions _ 93 4,861 -4,768 Net earnings available for distribution _ 7,988 36,403 -28,415 Dividends paid 10,269 9,584 685 Transferred to surplus -2,298 22,536 -24,834 Franchise tax paid to United States Government 17 4,283 -4,266 The lower gross earnings reflected a decrease of $356,000,000 in the daily average holdings of bills and securities, together with a reduction in the average rate of earnings from 4.86 per cent to 3.25 per cent. Earnings from bills discounted decreased from $47,791,000 in 1929 to $10,672,000 in 1930, the result of a decrease of $679,000,000 in average daily holdings of discounts and a lowering of the average rate of earnings from 5.03 per cent to 3.93 per cent. Earnings from bills bought in the open market were also lower, but earnings from the larger holdings of Government securities, at $17,273,000, were $9,108,000 larger than in 1929. The rate of return on bills bought in the open market was 2.85 per cent in 1930, compared with 5 per cent Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 13 in 1929; on Government securities 3.06 per cent, compared with 3.93 per cent. The average holdings of discounted bills, bills bought in the open market, United States Government securities, and other bills and securities, together with average rates and amounts earned on each, are shown for recent years in the accompanying table. EARNINGS ON BILLS AND SECURITIES [Amounts in thousands of dollars] Bills and securities held by all Federal reserve banks Year Total B co il u ls n t d e i d s- i m b n B o a o u i r l p g k l e s h e n t t m G c U S u e o n t r n v a i i t e t t t i e e r s e n d s e s - - s A b e i l c l l l u s o r i a t t h n ie e d s r Daily average holdings: 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 1929 1, 413, 058 950, 580 241, 399 207, 659 13, 420 1930 1, 056,895 271, 727 213,201 563, 672 8,295 Average rate of earnings (per cent): 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 1929 4.86 5.03 5.00 3.93 M.94 1930 3.25 3.93 2.85 3.06 4.09 Earnings: 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 1929 _ '68,683 47, 791 12,064 8,165 '663 1930 34,365 10,672 6,081 17,273 339 'Revised. Total current expenses of the Federal reserve banks in 1930 were $28,343,000 which is $1,348,000 less than in 1929. The cost of printing, issuing, and redeeming currency was $924,000 lower than the figure of $3,099,000 for the previous year, when this cost was unusually high by reason of the expense incurred in the process of substituting notes of smaller dimension for the old size. Salaries paid to officers aggregated $2,680,000 for the year, and to clerical staff and others $14,574,000, making a total expenditure of $17,254,000 for all salaries and wages, compared with $17,265,000 in the preceding year. Other major expenditures included taxes on banking houses aggregating $1,374,000, as against $1,470,000, and telegraphic and postage charges amounting to $2,247,000, as against $2,444,000 in 1929. The average number of officers and employees decreased from 9,995 in 1929 to 9,797 in 1930, and there was some falling off in the volume of work handled in the principal departments of the banks, except in the currency and coin departments. The following table shows the volume of work handled during 1930 and the three preceding years: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

14 ANNUAL, REPORT OF THE FEDERAL RESERVE BOARD VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS 1927 1928 1929 1930 NUMBER OF PIECES HANDLED Bills discounted: Applications 97,000 123,000 145,000 99,000 Notes discounted 371,000 443,000 526,000 415,000 Bills purchased in open market for own account _ 254,000 251,000 196,000 208,000 Currency received and counted 2,194,608,000 2,270, 555,000 2,427,330,000 2,441,989,000 Coin received and counted 2, 691,184,000 2,929,091,000 3, 239,709,000 3, 325, 555,000 Checks handled 862, 275,000 887,997,000 924,449,000 904,975,000 Collection items handled: United States Government coupons paid _ _ 37,045,000 28,765,000 20,935,000 19,362,000 All other 5,909,000 6,461,000 6,504,000 6,388,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 7,201,000 6,682,000 1,833,000 1,417,000 Transfers of funds 1,830,000 2,011,000 2,139,000 1,868,000 AMOUNTS HANDLED Bills discounted $31,934, 607, 000 $62,412,961,000 $60, 747,124,000 $14,067,117,000 Bills purchased in open market for own account 4,050,867,000 4, 240,669,000 3, 587,478,000 3,873,698,000 Currency received and counted 12,939,578,000 13,315,551,000 14, 782,429,000 14,262, 809,000 Coin received and counted 1432,131,000 '451,125,000 ••478,219,000 537,534,000 Checks handled _ 278,399,627,000 301,703,814,000 367,215,123,000 324,883,021,000 Collection items handled: United States Government coupons paid 553,703,000 543,373,000 535,612,000 499, 111, 000 Allother _ 6, 710, 317,000 7,414,440,000 7,185, 384,000 7,528,014,000 United States securities—issues, redemptions, and exchanges by fiscal agency department 10,803,043,000 9,002,383,000 7,018,844,000 7,245,189,000 Transfers of funds 136,383,899,000 148, 749,027,000 170, 789,669,000 198,880,880,000 ' Revised. Five of the reserve banks—New York, Philadelphia, Atlanta, Minneapolis, and Dallas—reported sufficient net earnings to pay accrued dividends in full, the remaining seven banks paying their dividends entirely or in part out of surplus. The surplus of the 12 Federal reserve banks combined after the closing of the books at the end of the year amounted to $274,636,000, a net reduction for the year of $2,298,000, although the New York, Philadelphia, Minneapolis, and Dallas banks made some additions to their individual surplus accounts, the latter two paying small franchise taxes. The total subscribed capital of the Federal reserve banks at the end of 1930 amounted to $339,280,000, against $341,951,000 a year before. 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 15 FINANCIAL RESULTS OF OPERATIONS OF THE FEDERAL RESERVE BANKS DURING 1930 Gross Net Dividends Transferred Franchise Federal reserve bank earnings earnings paid to surplus tax Boston $2,368,086 $253,777 $705,949 -$452,172 New York:___ 10,393,189 4,588,384 4,013,779 574,605 Philadelphia.. 2,996,243 1,102,771 1,002,602 100,169 Cleveland 3, 585, 202 783,777 952,934 -169,157 Richmond 1,641,390 -28,797 353,472 -382,269 Atlanta 1,963,724 323,307 323,307 Chicago 4,834,153 1,054,328 1,211,418 -157,090 St. Louis 1,745,685 1,114 315,839 -314,725 Minneapolis- 1, 235,082 193,589 184,445 914 Kansas City.. 1,667,667 -200,976 259,397 -460,373 Dallas 1, 585,113 272, 597 262,510 1,009 9,078 San Francisco 2,408, 510 -355,689 682,946 -1,038,635 Total— 36,424,044 7,988,182 -2,297,724 17,308 BUILDING OPERATIONS OF FEDERAL RESERVE BANKS The building for the use of the Los Angeles branch, construction of which was begun in 1929, was completed in 1930 and was occupied on April 14. On January 2, 1930, a site was purchased for a new building for the Pittsburgh branch, and on April 14 the President signed a joint resolution of Congress authorizing an expenditure of $875,000 for the construction of the building proper, exclusive of the cost of the vaults, permanent equipment, furnishings, and fixtures. Ground was broken for the erection of the building on November 1, 1930. During the year a site adjoining the Philadelphia building was purchased to provide for future expansion, and construction of an addition to the Kichmond building was under way at the end of the year. BRANCHES AND AGENCIES OF THE FEDERAL RESERVE BANKS The 25 branches and 2 agencies of the Federal reserve banks which were in operation at the end of 1929 continued to function throughout 1930. As was the case for the system as a whole, the volume of work handled by the branches and agencies in their principal operating departments fell off somewhat in 1930. The following table shows a comparison of the volume of work handled in certain departments during the years 1927, 1928, 1929, and 1930: VOLUME OF OPERATIONS OF FEDERAL RESERVE BANK BRANCHES AND AGENCIES 1927 1928 1929 1930 Checks handled: Number of items 253,322,000 268,814,000 277,778,000 265,300,000 Amount $64,724,395,000 $68,273,066,000 $72,034,805,000 $62,834,956,000 Currency received and counted: Number of pieces 497,795,000 535,352,000 594,449,000 581,697,000 Amount $2,801,165,000 $2,939,837,000 $3, 259,688,000 $3,106,716,000 Coin received and counted: Number of pieces 441,072,000 453,200,000 466,152,000 572,61L00O Amount $63,450,000 $67,949,000 •"$75,846,000 $84,394,000 Digitized for Fr RReAvSisEedR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

16 ANNUAL. REPORT OF THE FEDERAL RESERVE BOARD Current expenses during 1930 of the branches and agencies in operation during the year were $5,987,000, as compared with $5,996,000 in 1929. CHANGES IN MEMBERSHIP During 1930 the number of member banks declined from 8,522 to 8,052, or by 470. Membership at the end of 1930 included 1,019 State banks, which was 100 less than a year earlier, and 7,033 national banks, which represented a decrease of 370 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 absorptions by nonmember banks. Additions to membership during the year include 33 newly organized national banks, as compared with 71 in 1929, 35 nonmember State banks which converted into national banks, and 18 State banks admitted to membership with State charters. There were also 7 member banks which, having previously suspended operations, reopened during the year. The total of 93 banks added to membership during the year does not, however, include 165 nonmember banks that were absorbed by member banks during the year, although the assets of member banks were increased thereby. The number of nonmembers absorbed the year before was 77. Mergers between member banks account for a decrease of 199 in the number of such banks in 1930, as compared with a decrease of 171 in 1929. Suspensions account for a loss of 185 in the number of member banks, as compared with 82 in 1929. A total of 134 member banks were lost to membership through conversion into or absorption by nonmember banks; there were 39 voluntary withdrawals of State banks from membership, 2 compulsory withdrawals, and 4 instances in which the existence of member banks was terminated through voluntary liquidation. In the following table changes in membership for the year 1930 are summarized, by class of member bank: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL, RESERVE BOARD 17 CHANGES IN THE NUMBER OF NATIONAL AND STATE BANK MEMBERS DURING 1930 AND 1929 1930 Total Procedure effecting change for National State Total 1929 Active member banks at beginning of year 7,403 1,119 8,522 8,837 Additions to membership: Organization of national bank 33 33 71 Conversion of nonmember bank to national 35 35 24 Admission of State bank 18 18 27 Resumption following suspension 5 2 7 5 Conversion within the system. 2 3 Total additions 75 23 93 127 Losses to membership: Merger between member bank- National and national or State member and State member 143 15 158 132 National and State member 22 19 41 39 Voluntary liquidation (terminal) 3 1 4 3 Suspension and insolvency 1159 26 185 82 Absorption of member bank by nonmember bank 96 13 109 95 Conversion of member bank to nonmember bank 19 6 25 49 Withdrawal of State bank 241 141 42 Conversion within the system __ 3 2 Total losses _ 445 123 563 442 Net decrease _. . _ _ —370 -100 —470 —315 Active member banks at end of 37ear 7,033 1,019 8,052 8,522 1 Exclusive of 2 banks that suspended at the end of 1930 but which were included in the comptroller's Dec. 31 abstract. ^Includes 2 compulsory withdrawals. 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. One banking corporation operating under provisions of section 25 (a) of the Federal reserve act, generally referred to as the Edge Act, providing for banking corporations authorized to do foreign banking business, was examined during the year. Two banking corporations operating under an agreement with the board, as provided for in section 25, were also examined during the year. BANK SUSPENSIONS There were 1,345 bank suspensions in 1930, a larger number than in any other year. Deposit liabilities of suspended banks were $865,000,000, compared with $272,000,000, the highest previous figure, which was recorded in 1926. The figures of deposits in failed banks are not a measure of the amount of deposits lost by depositors, as they do not take account of amounts received by them from time to time from the receivers in charge of the liquidation of the suspended banks. Of the 1,345 banks suspended during the year 1930, 187 were members of the Federal reserve system and 1,158 were nonmember Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

18 ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD banks. Banks reopened in 1930 numbered 147, with deposits of $61,599,000. The following table shows for 1930 the number and deposits of the banks that suspended operations in selected States. The largest number of failures during the year occurred in Arkansas, Illinois, and Missouri. BANK SUSPENSIONS IN SELECTED STATES DUEING 1930 State N p o e u n f m s s i u b o s n e - r s D d l ( i i e o o n p l n l o m a s s r i o s i l t ) - f s State N p o e u n f m s s i u b o s n e - r s D d ( li i e o o n p l n l o m a s s r i s i o l t ) - f s Arkansas 135 47 Florida 39 45 Illinois. _ 126 63 Texas — 34 11 Missouri 104 20 Alabama - . 34 9 North Carolina 93 57 Georgia _ _. 31 6 Indiana 90 38 Kentucky 29 63 Iowa 86 31 Tennessee 28 28 North Dakota 60 5 South Carolina 27 7 South Dakota - 54 11 All other States 236 376 IVIississiDDi 52 27 Nebraska 44 10 Total 1,345 865 Kansas 43 11 In 1930, as previously, the majority of bank failures was among small banks. In the past year, however, some large institutions closed their doors, one having as much as $160,000,000 in deposit liabilities and two others of $38,000,000 and $35,000,000, respectively, with the consequence that average deposits of suspended banks were $640,000 in 1930, compared with $300,000 for the preceding nine years. BRANCH AND GROUP BANKING During the first six months of 1930, while the aggregate number of banks in the United States decreased, there was an increase in the number of banks in chains or groups, as well as the number of branch offices. On June 30, 1930, the number of banks in the United States was smaller by 5,144 than six years earlier, but the number of branches had increased by 1,325, so that the decrease in the total number of banking offices was 3,819. During the first six months of 1930 there was a decrease of 778 in the number of banks and an increase of 71 in the number of branches. The group of 22 States in which the establishment of branches is now prohibited lost 3,051 banking offices, nearly one-fifth of those in existence at the beginning of the 6-year period. In the area where state-wide branch banking is permitted, banking offices decreased by 287, or about one-twelfth, reflecting a decrease of 760 banks, offset in part by an increase of 473 in branches. On the other hand, the group of States in which branches are restricted as to location showed a net increase in banking offices of 262, resulting from an increase of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL BEPOBT OF THE FEDERAL RESERVE BOARD 19 860 branches, offset in part by a decrease of 598 in the number of banks. The increase in branch offices during the first six months of 1930 occurred chiefly in the home city or county, 43 of the increase of 71 being of this class. The comparatively restricted nature of branchbanking developments from a geographical point of view is reflected in the fact that of the 3,618 branch offices in the country on June 30, 1930, only 720 were located outside of the home-office city or county, of which 451 were in California, 58 in South Carolina, and 46 in North Carolina. Twenty-five large banks in seven cities—New York, Detroit, Los Angeles, Cleveland, Boston, Buffalo, and New Orleans—each having 18 or more branches and all confining their branch activity to the city, had among them nearly 1,000 branches, and of the nearly 900 branches operated by 16 large systems whose branch activities were not so limited, more than one-fourth were within the home-office city. On June 30, 1930, there were 817 banks operating branches, 5 less than six months earlier. Decreases in branch systems resulted from 20 mergers, 12 suspensions, and in 7 cases the discontinuance of branches, offset in part by 32 new branch systems and the reopening of 2 systems following suspension. The increase of 71 branch offices resulted from the conversion of 62 banks into branches, the establishment of 89 branches de novo, and 2 resumptions following suspension—while 60 branch offices were discontinued and 22 were closed with suspension of the parent bank. At the end of June, 1930, branches were in operation in 30 States and the District of Columbia—1,308 in the 9 States and the District of Columbia which permit state-wide branch banking; 2,257 in the 12 States which restrict the establishment of branches to the home city of the parent bank or territory nearly contiguous thereto; 52 in 8 States in which the further extension of branch banking is prohibited by State law; and 1 in the State of New Hampshire, where there is no provision in State law regarding branch banking. Two-thirds of the 3,618 branches in operation in June were located in 5 States—California, New York, Michigan, Ohio, and Pennsylvania—while more than 100 branches were in operation in each of 4 other States—Massachusetts, New Jersey, Louisiana, and Maryland. A large majority of the banks operating branches in June were operating only one or two branches each. Of the 817 banks operating branches, 443, or more than one-half, were operating only 1 branch each, 144 were operating 2, and 132 were operating 3 to 5. Of the 817 banks operating branches on June 30, 1930, 165 were national banks with 1,041 branches, 169 were State member banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

20 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD with 1,308 branches, and 483 were nonmember State banks with 1,269 branches. The group * banking movement gained 79 constituent banks during the first six months of 1930, of which 53 banks were in new groups and 127 were added to old groups. Partly offsetting these increases, groups lost 30 banks because of mergers, 24 because of suspensions, and 47 because of withdrawals, dissolutions, etc. The 2,144 constituent banks reported for June 30, 1930, belonged to 289 different group systems, there being one more group than at the end of 1929. Although 12 new groups were formed during the 6-month period, suspensions, mergers, etc., accounted for the disappearance of 11 groups. While group-banking developments have not been generally restricted by provisions in State banking codes, the area within which these developments have been more considerable in extent is composed largely of States which have prohibited the establishment of branch-banking offices either by statute or by administrative policy, as, for example, in Minnesota, North Dakota, Kansas, Iowa, Illinois, Oklahoma, and Texas. Developments of this character, however, have by no means been restricted to these States, as groups have shown very considerable developments elsewhere, particularly in several of the States—Michigan and New York, for example—which have restricted the development of branch banking to the building up of home-city or local branch systems, and in California, which permits state-wide branch banking. There were, in fact, few States in which no affiliation of banking institutions in group systems was reported in June, 1930, and the group-banking area is in general much more extensive and less clearly defined than the branchbanking area. 1 The word " group " is used to include chains as well. Three types of chain or group systems have been reported, which may be characterized with reference to the controlling agency, as follows: (1) Instances where control is exercised by a holding corporation, which has usually been formed by interests connected with one or more of the principal banks belonging to the system. (2) Instances where control is exercised by the principal bank of the system, either through direct ownership of stock by the bank or through ownership by the stockholders or directors of the bank. (3) Instances of ownership of controlling or substantial interest in a number of banks by an individual, family, or group of individuals. Recent developments have been conspicuously of the first and second types, and these developments, commonly utilizing holding companies as controlling agencies, have been distinguished in some discussions as " group systems," the designation of " chain systenr " being reserved for organizations of the third type. These classifications by types of control are, however, very general, since the actual method and agency of control varies from system to system and may in the case of any given system be modified from time to time. In the board's compilations, only affiliations of 3 or more banks are classified as chain or group systems. It follows that some single banks classified as independent unit banks may be affiliated through stock ownership with other single banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 21 During the six months' period the group movement showed a gain of 12 banks in Illinois, 9 in Wisconsin, and 8 in Florida (3 States in which branches are prohibited by law), and of 11 banks in Tennessee and 7 in Ohio (2 States in which branches are restricted as to location). In Iowa there were 14 fewer banks members of chains and groups than six months earlier. Several of the large group systems in operation in June included one or more banks operating branches, and while in some instances all of the banking offices of the group were located within the confines of a single State, in other instances they were located in several States. Forty-four important groups, none with less than 6 banks, had among them 902 of the total number of 2,144 banks associated with groups in the country as a whole. In addition, the members of these large groups had 1,037 branches in all, of which 621 were in the home-office city. One large group in the Northwest had as many as 108 members, another in the Northwest 100, while an important group with its head office in New York City, operating chiefly in California, reported 22 bank members having 475 branches. BANK MERGERS Mergers affecting members of the Federal reserve system, which were numerous in 1929, were still more numerous in 1930. The merger movement and bank suspensions taken together have served to reduce the total number of banks in the United States by almost 5,000 in a 5-year period ending with June 30, 1930, wkile banking resources were increasing by $12,000,000,000 to a total of $74,000,000,000. During these five years, therefore, the average size of banks, as measured by total resources, increased from $2,152,000 to $3,074,000. During the past five years there have been over 1,400 mergers involving members of the Federal reserve system. The accompanying table brings out the fact that during the 5-year period the national system lost to the State systems 419 banks, while gaining through mergers 310 banks. In the year 1929 the national system suffered numerous defections, some of which were associated with unfavorable feeling toward national charters that arose from a court decision concerning the continuity of fiduciary powers of national banks. That this feeling has in part lost its force is reflected in the fact that in the year 1930, for the first time in recent years, the national system gained through mergers more banks than it lost through mergers. During the year 1930 more outside banks were absorbed by member banks than were lost to the Federal reserve system by merger with nonmember institutions, although in the 5-year period the net movement in this connection was in the opposite direction. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

22 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MERGERS AFFECTING MEMBER BANKS, 1926-1930 Number of banks absorbed by mergers Type of merger 1926 1927 1928 1929 1930 Total 164 259 204 343 473 National bank absorbed through merger: Total 128 164 139 213 261 With national bank > -. 68 96 70 109 143 With State member bank 20 19 19 25 22 With nonmember bank 40 49 50 79 96 State member bank absorbed through merger: Total - 23 37 28 53 47 With national bank 7 17 11 14 19 With State member bank 12 14 8 23 15 With nonmfvnibftr bank . _ 4 6 9 16 13 Nonmember bank absorbed through merger: Total 13 58 37 77 165 With national bank 2 35 15 55 135 With State member bank 11 23 22 22 30 SUMMARY Member bank absorbed by merger with member 107 146 108 171 199 Member bank absorbed by merger with nonmember..- 44 55 59 95 109 Nonmember bank absorbed by merger with member. 13 58 37 77 165 National bank absorbed by merger with State bank 60 68 69 104 118 State bank absorbed by merger with national bank 9 52 26 69 154 BANKS ON PAR LIST At the end of 1930 there were 22,445 incorporated banks other than mutual savings banks in the United States. Of this number, 19,008, or 84.7 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 decreased by 1,406, the number on the par list by 1,089, and the number not on the par list by 317. Of the 3,437 banks not on the par list at the end of 1930, 1,874 were located in the Southern and 1,463 in the 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

23 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MEMBERS HIP IN PAB COLLECTION SYSTEM * [Number of banks at end of December] Member banks Nonmember banks Federal reserve district On par list Not on par list 1930 1929 1930 1929 1930 1929 United States 8,052 8,522 10,956 12,045 3,437 3,754 Federal reserve district: Boston 396 404 260 271 New York 914 931 395 404 Philadelphia 753 764 451 476 Cleveland 757 795 936 991 9 9 Rip.hmnnri 470 514 523 577 441 546 Atlanta 390 428 186 254 862 926 Chicago 1,081 1,186 3,200 3,485 238 229 St. Louis . - 513 571 1,404 1,670 417 477 Minneapolis 642 683 497 582 1,007 1,101 Kansas City 871 893 1,917 2,096 191 197 Dallas 684 746 572 605 211 207 San Francisco 581 607 615 634 61 62 1 Incorporated banks other than mutual savings banks. TRUST ACTIVITIES OF NATIONAL BANKS The Federal Keserve Board in 1930 approved 111 original and 21 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 granted by the Federal Reserve Board to a national bank on February 25, 1915, continuous growth has been shown each year until, at the close of 1930, 2,465 of these institutions had authority to administer trusts. A list of national banks holding permits to exercise trust powers on December 31,1930, will be found on pages 313-337. CHANGES IN THE BOARD'S REGULATIONS During the year 1930 the provisions of the board's regulations were amended in a number of particulars. Some of these changes were made in order to bring the terms of the regulations into conformity with the provisions of recent amendments to the law, while other amendments were adopted because experience had proven them to be necessary or desirable. Regulation A—Discounts under sections 13 and 13 (a).—The board adopted a number of amendments to its Regulation A with regard to rediscounts by Federal reserve banks, in order to make the provisions of the regulation conform to the following recent amendments to the law: (1) The act of May 29, 1928, which authorized the rediscount of sight drafts when drawn to cover the shipment of nonagricultural, nonperishable, readily marketable staples, as well as nonperishable, readily marketable staple agricultural products, and when 33454—31 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

24 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD drawn to finance the exportation of such staples as well as the domestic shipment thereof; (2) the act of June 17, 1929, authorizing the Secretary of the Treasury to issue Treasury bills and providing that the words " bonds and notes of the United States " and similar phrases as used in the Federal reserve act shall be held to include certificates of indebtedness and Treasury bills; (3) the act of April 12, 1930, which amended the law so as to make the limitations upon the amount of eligible paper of one borrower which may be rediscounted by a Federal reserve bank for a member bank conform to the limitations of section 5200 of the Revised Statutes as to the amount which a national bank may lend to a single borrower. Regulation D—Reserves of member banks.—This regulation was amended so as to provide that in computing penalties for deficiencies in reserves the required reserve balance of each member bank at the close of business each day shall be based upon its net deposit balances at the opening of business, instead of the close of business, on the same day. No change, however, was made in the existing practice of computing such deficiencies on the basis of average daily net deposit balances covering semiweekly, weekly, or semimonthly periods. Regulation F—Trust powers of national banks.—Pursuant to the act of June 26, 1930, providing for the voluntary surrender of fiduciary powers by national banks, the board amended its Regulation F so as to outline the steps which should be taken by a national bank desiring to give up its trust powers and setting forth the requirements of the board before granting a certificate to the bank certifying that it is no longer authorized to exercise such powers o Regulation H—Membership of State banks and trust companies.— Pursuant to the act of April 17, 1930, providing for the waiving by the Federal Reserve Board of the six months' notice prescribed for State banks voluntarily withdrawing from the Federal reserve system, the board amended its Regulation H by adding a new section on the subject of voluntary withdrawals of State member banks. This amendment consists principally of a paraphrase of the relevant provisions of the law as amended and a statement of the procedure to be followed in cases of voluntary withdrawal of State member banks including cases where the six months' notice is waived. Regulation I—Federal reserve bank stock.—The board amended its Regulation I so as to prescribe a procedure to be followed in cases arising under the act of Congress of April 23, 1930, which authorized the Comptroller of the Currency to appoint a receiver for a national bank which has discontinued banking operations for 60 days without going into liquidation and for which a receiver has not already been appointed, and which also authorized the Fed- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD 25 eral Eeserve Board to forfeit the membership of a State member bank which has ceased to exercise banking functions without a receiver or liquidating agent having been appointed. Regulation I was also amended so as to clarify the question as to the amount of Federal reserve bank stock to which a member bank is entitled in a case where it has first reduced its surplus but subsequently has increased it. Regulation J—Check clearing and collection.—The board adopted a number of amendments modifying or clarifying the provisions of its Regulation J with regard to the collection of checks by Federal reserve banks, the more important changes being in that section of the regulation which prescribes the terms upon which Federal reserve banks will receive and handle such checks for collection. Regulation K—Banking corporations authorized to do foreign hanking business.—The board amended its Regulation K with respect to the requirements as to titles of corporations organized to do a foreign banking business under the terms of section 25 (a) of the Federal reserve act. The regulation prior to the amendment required that the title of every such corporation include the word " foreign " or the word " international" and should not include the word " bank." As amended, however, an exception is made to this require* ment by providing that with the permission of the Federal Reserve Board a corporation which is closely affiliated with a bank and which is organized or operated for the purpose of transacting the foreign banking business of such bank may include the word " bank " in its corporate title and need not include the word " foreign " or the word " international." Regulation L—Interlocking bank directorates under the Clayton Act.—This regulation was amended so as to bring its provisions into conformity with the act of March 2,1929, exempting from the provisions of the Clayton Act joint-stock land banks and other banking institutions which do no commercial banking business. The complete text of the Federal Reserve Board's Regulations A to L, as they existed on December 31, 1930, will be found on pageg 232-272. AMENDMENTS TO THE FEDERAL RESERVE ACT Amendments to a number of the provisions of the Federal reserve act were enacted during the year 1930. Limitations upon rediscounts for one borrower.—By act of Congress approved April 12, 1930, section 13 of the Federal reserve act was amended so as to make the limitations therein on the amount of eligible paper of any one borrower which may be rediscounted by a Federal reserve bank for a member bank conform to the limita* tions of section 5200 of the Revised Statutes as amended with regard to the amount which a national bank may lend to a single borrower. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

26 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Waiver of notice of withdrawal,—By act of Congress approved April 17, 1930, section 9 of the Federal reserve act was amended so as to authorize the Federal Reserve Board, in its discretion and subject to such conditions as it may prescribe, in individual cases to Waive the six months' notice prescribed for State member banks withdrawing from the Federal reserve system and to permit any such bank to withdraw from membership prior to the expiration of six months from the date of such notice. Banks which have discontinued operations.—By act of Congress approved April 23, 1930, section 6 of the Federal reserve act was amended so as to authorize the Comptroller of the Currency to appoint a receiver for a national bank which has discontinued its banking operations for 60 days, but which has not gone into liquidation and for which a receiver has not already been appointed for other lawful cause; and it is further provided that the stock held by the national bank in the Federal reserve bank shall thereupon be canceled and proper refund made. By the same act of Congress section 9 of the Federal reserve act was amended so as to authorize the Federal Eeserve Board, after hearing, to forfeit the membership of a State member bank of the Federal reserve system which has ceased to exercise banking functions without a receiver or liquidating agent having been appointed therefor. Costs of examination of member banks.—By act of Congress approved June 26, 1930, section 9 of the Federal reserve act and section 5240 of the United States Revised Statutes, as amended by section 21 of the Federal reserve act, were amended so as to enable the Federal Reserve Board in its discretion to decide whether the costs of examinations of member banks of the Federal reserve system made by the Federal Reserve Board or by the Federal reserve banks should be assessed against the banks examined. The previous law had required that the costs of all such examinations be assessed against the banks examined. It is also provided under the law as amended that copies of reports of examinations of State member banks may, in the discretion of the Federal Reserve Board, be furnished to the State banking authorities. Yolimtary surrender of trust powers.—By act of Congress approved June 26, 1930, a procedure is provided whereby a national bank which has been authorized to exercise fiduciary powers, pursuant to the provisions of section 11 (k) of the Federal reserve act, may surrender those powers if it so desires, in order to relieve itself from the necessity for a further compliance with the requirements of that section or to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts or for any other purpose. Under the law as amended, when a national bank has signified to the Federal Reserve Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPOET OF THE FEDERAL RESERVE BOARD 27 Board a desire to surrender its trust powers the board is authorized in its discretion to issue a certificate that the bank no longer has authority to exercise fiduciary powers, and it is specifically provided that upon the issuance of this certificate the bank is entitled, among other things, to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts. Election of Federal reserve hank directors.—By act of Congress approved June 26, 1930, that part of section 4 of the Federal reserve act providing the method of counting ballots in elections of Class A and Class B directors of Federal reserve banks was amended so as to clarify the meaning of the phrase " electors voting " appearing in the statute. Under the previously existing law it was provided that member banks voting in elections of Class A and Class B directors shall indicate their first, second, and other choices, and if no candidate have a majority of first-choice votes the secondchoice votes shall be added to the first-choice votes, and if any candidate then have a majority of the " electors voting " he shall be declared elected; if not, votes for first, second, and other choices shall be added together and the candidate then having the highest number of votes shall be declared elected. In a case where pursuant to the statute it had become necessary to add together the first-choice and second-choice votes and as a result several candidates had a majority of "electors voting," serious doubt arose on the question whether that candidate having the highest number of first and second choice votes combined should be declared elected or whether in such case votes for first, second, and other choices should be added together and the candidate then having the highest number of votes declared elected. To eliminate this doubt, the statute was amended so as to provide that when first and second choice votes have been added together the candidate then having a " majority ofl the electors voting and the highest number of combined votes" shall be declared elected; if no candidate then have a majority of electors voting and the highest number of combined votes, third-choice votes shall be added in, as provided under the law previously. ADMINISTRATION OF THE CLAYTON ACT Pursuant to the provisions of section 8 of the Clayton Antitrust Act, during the year 1930 applications for permits authorizing interlocking bank directorates numbering 416 were received and considered by the Federal Eeserve Board. The board also investigated 100 alleged violations of this law which were reported to it Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

28 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD by the Comptroller of the Currency, and required the bank directors involved to comply with the law where it was being violated. MEETINGS OF FEDERAL ADVISORY COUNCIL Four meetings of the Federal advisory council were held in Washington during 1930 on the following dates: February 18, May 20, September 16, and November 18. CONFERENCES HELD BY THE FEDERAL RESERVE BOARD The Federal Eeserve 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 and the Federal reserve agents met in Washington on September 24-25 and conferred separately and jointly. At both conferences special sessions were held at which the board was in attendance. ORGANIZATION, STAFF, AND EXPENDITURES Roy A. Young, who had held the office of governor of the Federal Reserve Board since October 4, 1927, resigned on September 1, 1930, and on September 2 became governor of the Federal Reserve Bank of Boston. Edmund Platt, who had been a member of the Federal Reserve Board since June 8, 1920, and its vice governor since July 23, 1920, resigned on September 15, 1930. On September 16,1930, Eugene Meyer, of New York, was appointed a member of the Federal Reserve Board to fill the vacancy created by the resignation of Vice Governor Platt, and was designated as governor of the board. Edward H. Cunningham, a member of the Federal Reserve Board since May 14, 1923, died on November 28, 1930. The total cost of conducting the work of the board during the year 1930 was $778,759.94. Two assessments were levied against the Federal reserve banks aggregating $809,585.34, or less than onefifth of 1 per cent of their average paid-in capital and surplus for the year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK CREDIT 29 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT AND FACTORS IN CHANGES No, 1.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, ANNUAL AVERAGES, 1918-1930 [Averages of daily figures. In millions of dollars] Factors of Reserve bank credit outstanding decrease * Factors of increasei Year co B d u i i n s ll t - e s dbo B u il g ls ht U S s i e n t t c a i i e u t t e e s r s d - r c O e b r s a e t e h n d r e v k it r e 2 Total M s t g t a o o o r l c y n d k e - -u j T u r r e ( y s r a n e t d e c a c u d - s y r - ) -M i c n ti u o o c l n a n i e r - y - r M e a b b s b n a a e e e c n l m r e r - v k s - e i d t m N s e b , e p o e e m o n r t s - c - - . p c U f a e u n p n n e i d d t x e a s - d l 1918. - 1,134 287 134 168 1,723 3,158 1,477 4,658 1,497 108 95 1919. 1,906 324 254 141 2,625 3,129 1,251 5,016 1,719 115 155 1920 2,523 385 324 158 3,390 2,869 1,401 5,478 1,835 67 280 1921__ 1,797 91 264 46 2,198 3,291 1,501 4,950 1,671 28 341 1922. 571 159 455 41 1,226 3,802 1,604 4,535 1,781 30 286 1923 736 227 186 56 1,205 4,061 1,736 4,822 1,873 27 280 1924__ 372 172 402 50 996 4,439 1,757 4,879 2,023 27 263 1925._ 481 287 359 68 1,195 * 4,381 1,755 '4,869 2,167 31 264 1926-. 568 281 350 59 1,258 4,452 1,743 4,932 2,209 28 284 1927._ 442 263 417 53 1,175 4,564 1,774 4,892 2,290 31 300 1928. 840 328 297 40 1,505 4,206 1,783 4,783 2,355 29 327 1929 951 241 208 59 1,459 4,283 1,785 4,763 2,358 30 376 1930 272 213 564 38 1,087 4,460 1,781 4,532 2,379 28 380 i For explanation see Federal Reserve Bulletin for July, 1929, pp. 432-438. * Includes Government overdrafts in 1918, 1919, and 1920; see Table 5. ' Revised. 31 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 2.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES, 1918-1930 [Averages of daily figure>s. In millions of dollars] Reserve bank credit outstanding F d a e c c t r o ea rs s e o * f Factors of increase1 Month co B d u i i n l s l t - s ed b B ou il g ls ht U s S e t n t c i a i e u t t s e e ri s d - c O s b r e r a e t r e h n d v - e k i e t r 2 Total M s e g t t o o a o l c r n d y k - T r u e c u ( r s a n u e t r d e a r c y - d - s y - ) M i c n t o u i o c l n a n i e r - y - M a s b b e n b r a e a r e c e n v m l - e r k - e s - p m N o e b d e o s t e e c m i n r - t . s - - , U p f c u e t a e n n a n p d e l d d i x - s - - 1918—January 612 266 149 143 1,170 3,152 1,563 4,306 1,467 36 76 February 529 288 185 141 1,143 3,159 1,589 4,280 1,468 63 80 March... 537 315 271 140 1,263 3,162 1,583 4,373 1,466 85 84 April 751 313 173 144 1,381 3,163 1,563 4,423 1,504 95 85 May 897 278 86 151 1,412 3,163 1,521 4,401 1,482 126 87 June 939 239 97 279 1,554 3,162 1,471 4,448 1,512 138 89 July 1,162 208 65 196 1,631 3,161 1,392 4,520 1,448 124 92 August.. 1,333 217 53 147 1,750 3,157 1,439 4,666 1,459 126 95 September 1,604 249 67 153 2,073 3,156 1,411 4,911 1,507 121 101 October 1,683 354 123 195 2,355 3,151 1,402 5,134 1,539 130 105 November 1,760 374 130 152 2,416 3,155 1,378 5,183 1,520 131 115 December 1,765 346 214 166 2,491 3,156 1,418 5,243 1,586 117 119 1919—January 1,731 278 200 150 2,359 3,160 1,400 5,050 1,635 118 116 February 1,765 274 186 116 2,341 3,162 1,286 4,932 1,612 114 131 March. 1,863 261 195 161 2,480 3,161 1,207 4,942 1,652 123 131 April 1,920 207 213 111 2,451 3,166 1,277 4,970 1,656 126 142 May 1,976 187 228 107 2,498 3,176 1,233 4,941 1,686 135 145 June 1,840 247 236 144 2,467 3,169 1,231 4,891 1,696 133 147 July.... """" 1,864 358 249 128 2,599 3,087 1,207 4,896 1,719 121 157 August... 1,798 372 270 119 2,559 3,114 1,248 4,913 1,740 104 164 September 1,776 351 341 168 2,636 3,143 1,254 4,989 1,769 108 167 October. 2,068 343 296 140 2,847 3,120 1,209 5,106 1,793 99 178 November 2,140 455 307 136 3,038 3,070 1,230 5,208 1,837 97 196 December 2,115 549 327 212 3,203 3,021 1,239 5,342 1,820 100 201 1920—January. 2,136 570 326 173 3,205 2,961 1,256 5,231 1,883 98 210 February 2,297 541 309 167 3,314 2,909 1,241 5,285 1,858 94 227 March 2,377 480 344 212 3,413 2,859 1,338 5,398 1,878 98 236 April.. 2,431 413 332 188 3,364 2,821 1,409 5,372 1,870 106 246 May 2,536 411 302 136 3,385 2,835 1,412 5,414 1,853 103 262 June 2,456 400 347 179 3,382 2,854 1,426 5,448 1,853 88 273 July... 2,513 362 319 150 3,344 2,862 1,454 5,478 1,840 54 288 August... 2,596 324 304 129 3,353 2,855 1,456 5,509 1,807 46 302 September. 2,667 310 339 179 3,495 2,847 1,429 5,600 1,817 38 316 October 2,780 303 305 134 3,522 2,855 1,468 5,673 1,815 27 330 November 2,762 276 320 109 3,467 2,873 1,475 5,662 1,782 27 344 December 2,718 242 339 143 3,442 2,894 1,458 5,658 1,758 25 353 1921—January 2,523 200 298 89 3,110 2,931 1,463 5,401 1,773 24 306 February 2,400 169 287 62 2,918 2,975 1,435 5,263 1,728 26 311 March. 2,297 137 296 68 2,798 3,040 1,411 5,204 1,694 31 320 April 2,129 110 277 48 2,564 3,117 1,427 5,078 1,665 34 331 May 1,959 84 303 40 2,386 3,197 1,485 5,042 1,657 32 337 June 1,811 54 302 44 2,211 3,254 1,508 4,936 1,664 31 342 July.... 1,719 26 261 43 2,049 3,305 1,513 4,857 1,639 27 344 August 1,548 38 249 28 1,863 3,392 1,508 4,771 1,621 26 345 September 1,442 40 254 31 1,767 3,479 1,510 4,752 1,629 27 348 October 1,371 56 207 35 1,669 3,547 1,534 4,721 1,652 26 351 November 1,228 79 208 29 1,544 3,595 1,575 4,673 1,663 28 350 December 1,180 105 226 37 1,548 3,643 1,577 4,718 1,673 27 350 1922—January 962 98 238 28 1,326 3,672 1,551 4,527 1,707 29 286 February 769 88 357 19 1,233 3,704 1,521 4,451 1,689 34 284 March 638 92 459 18 1,207 3,736 1,576 4,483 1,711 39 286 April 572 93 520 25 1,210 3,756 1,572 4,482 1,733 40 283 May 479 103 603 23 1,208 3,768 1,576 4,450 1,783 37 282 June 437 136 591 28 1,192 3,776 1,600 4,429 1,820 34 285 July 425 153 547 45 1,170 3,803 1,595 4,443 1,812 28 285 August 396 159 497 50 1,102 3,840 1,613 4,448 1,799 25 283 September 417 212 486 65 1,180 3,860 1,630 4,552 1,811 23 284 October 486 252 448 60 1,246 3,884 1,657 4,643 1,836 21 287 November 623 260 325 57 1,265 3,896 1,650 4,671 1,825 27 288 December 660 259 380 78 1,377 3,917 1,690 4,827 1,840 28 289 *For explanation see Federal Reserve Bulletin for July, 1929, pp. 432-438* * Includes Government overdrafts in 1918, 1919, and 1920; see Table 5, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT 33 No. 2.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES, 1918-1930—Continued [Averages of daily figures. In millions of dollars] Reserve bank credit outstanding Factors of Factors of increase Mem- Month co B d u i i n l s l t - s edb B ou il g ls ht U s S e n t t c i a i e u t t s e e ri s d - c O b r r a t e e h n d - e k i r t Total M e s g t ta o o o r l c n y d k - - j T r u e c u ( r s a n u e t r e d a r c y - d - s y - ) M i c n t o u i o c l n a n i e r - - y s b b e b r a a r e e n v l - r k - e p m N o e b d e o s t e e c m i n r - t . s - - , p f U c u e t a e n n a n p d d l e d i s x - - . 1923—January 547 218 421 1,249 3,945 1,724 4,679 1,918 275 February.. 190 356 1,205 3,960 1,709 4,672 1,901 276 March 234 316 1,228 1,690 4,713 1,873 276 April 658 272 229 1,214 3,975 1,711 4,731 1,869 279 May 705 271 193 1,222 3,993 1,740 4,764 1,874 281 June 741 224 153 1,178 4,040 1,738 4,779 1,867 282 July 834 186 97 1,179 4,061 1,743 4,812 1,867 280 August 809 175 90 1,127 4,097 1,747 4,833 1,835 281 September. 845 174 102 1,184 4,123 1,745 4,901 1,848 281 October 873 185 91 1,204 4,155 1,753 4,941 1,864 284 November. 799 265 83 1,204 4,182 1,757 4,953 1,875 284 December. 771 324 106 1,260 4,226 1,771 5,071 1,882 282 1924—January 574 300 118 1,041 4,266 1,750 4,847 1,911 274 February.. 514 273 135 955 4,302 1,759 4,832 1,892 270 March 476 228 244 990 4,340 1,747 4,870 1,915 270 April 489 170 274 981 4,383 1,720 4,886 1,905 270 May 433 80 324 879 4,433 1,766 4,866 1,922 266 June 370 50 416 886 4,471 1,759 4,830 2,001 264 July 315 44 467 879 4,503 1,763 4,810 2,046 261 August 268 30 539 881 4,516 1,763 4,800 2,072 255 September. 262 92 575 983 4,515 1,763 4,853 2,120 257 October... 240 180 585 057 4,506 1,755 4,891 2,141 259 November. 228 268 588 ,135 4,517 1,771 4,970 2,164 259 December. 301 358 554 1,288 4,507 1,768 5,088 2,182 261 1925—January... 267 329 464 ,125 4,468 1,765 4,863 2,194 258 February.. 340 314 384 , 094'4, 392 1,778 r 4,805 2,159 258 March 390 298 376 :,122 •4,340 1,782 ••4,814 2,137 263 April 403 287 355 ,110 4,340 1,769 ' 4,803 2,123 266 May 397 279 361 ,100 •4, 353 1,762 ' 4, 791 2,132 264 June , 437 263 345 ,118 •4, 360 1,744 r 4, 790 2,141 266 July 480 231 338 ,118 •4,361 1,764 r 4, 794 2,160 262 August 545 205 329 :,143 •4,372 1,742 ' 4,817 2,151 264 September. 594 226 335 , 227 4,386 1,749 4,908 2,161 267 October 619 328 ,321 4,391 1,737 4,945 2,203 271 November. 597 332 1,352 4,407 1,735 4,960 2,221 272 December.. 359 1,507 4,397 1,740 5,119 2,219 274 1926—January 520 1,279 4,407 1,744 4,891 2,236 273 February... 526 305 335 1,218 4,425 1,719 4,854 2,208 274 March 557 268 336 1,216 4,444 1,707 4,864 2,198 278 April 537 234 371 1,204 4,448 1,722 4,882 2,183 283 May 511 232 398 1,200 4,434 1,744 4,871 2,199 282 June 473 243 408 1,185 4,438 1,771 4,881 2,206 284 July 549 230 380 1,221 4,460 1,753 4,916 2,212 281 August 555 245 353 1,203 4,467 1,755 4,912 2,201 285 September. 640 265 316 1,278 4,471 1,750 4,969 2,211 289 October 663 295 306 1,322 4,472 1,746 5,001 2,219 293 November.. 615 348 302 1,318 4,477 1,755 5,005 2,214 205 December.. 385 322 1,445 4,481 1,749 5,131 2,218 294 1927—January 481 343 310 1,186 4,527 1,760 4,903 2,243 294 February,.. 393 304 307 1,043 4,576 1,757 4,843 2,212 295 March 425 253 345 1,055 4,595 1,767 4,856 2,240 298 April 447 248 341 1,087 4,601 1,761 4,879 2,248 299 May 473 233 291 1,041 4,651 1,768 4,860 2,262 299 June 429 205 398 1,081 4,606 1,777 4,831 2,301 298 July 454 190 381 1,115 4,575 1,780 4,851 2,289 297 August 409 173 439 1,093 4,585 1,780 4,849 2,283 296 September. 422 216 501 1,187 4,584 1,776 4,917 2,300 300 October 424 282 506 1,254 4,566 1,776 4,934 2,326 302 November.. 415 336 579 1,377 4,490 1,790 4,936 2,373 304 December.. 529 378 1,568 4,416 1,796 5,048 2,399 306 ' Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

34 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No# %•—RESERVE BANK CREDIT AND FACTORS IN CHANGES, MONTHLY AVERAGES, 1918-1930—Continued [Averages of daily figures. In millions of dollars] Reserve bank credit outstanding F d a e c c to re r a s s o e f Factors of increase Mem- Month co B d u i i n l ss l t - t s " ed b B ou il g ls ht U s S e n t t c i a i e u t t s e e ri s d - c O s b r e a r t e r e h n v d - e k i e r t Total M e s g t t o o a o l c r n d y k - j T r u e c u ( r s n u a e t r e d a c r y - d s y - - ) M i c n t u o i o c l n a n i e r - y - a s b b e n b r a a r e c e n v l - e r - k e s p m N o e b d e t s o e e c m i n - r t . s - - , U p f c u e t a e n n a n p d e d l d i x s - - - 1928—January ___. 465 373 512 38 4,377 1,778 4,785 2,426 27 305 February... 471 360 406 27 ,264 4,373 1,776 4,709 2,368 26 310 March 513 343 415 24 [,295 4,335 1,781 4,710 2,365 24 312 April 661 358 351 35 1,405 4,287 1,778 4,730 2,396 27 317 May 836 349 257 30 , 472 4,207 1,779 4,722 2,388 27 321 June 1,019 244 232 36 [,531 4,119 1,791 4,736 2,355 28 322 July 1,090 185 213 43 ,531 4,113 1,782 4,746 2,324 30 326 August 1,061 178 210 36 ,485 4,118 1,774 4,743 2,274 28 332 September. 1,064 226 240 51 ,581 4,125 1,787 4,804 2,314 «88 337 October 975 368 237 41 ,621 4,133 1,786 4,836 2,332 30 342 November.. 897 471 238 47 ,653 4,151 1,787 4,860 2,352 32 347 December.. 1,013 483 263 65 1,824 4,142 1,790 5,008 2,367 29 352 1929—January 859 473 229 52 1,613 4,115 1,789 4,748 2,387 31 351 February... 385 184 44 1,502 4,143 1,784 4,686 2,357 29 357 March 265 197 50 1,481 4,166 1,791 4,709 2,337 31 361 April 1,004 156 165 52 1,377 4,226 1,785 4,679 2,308 35 366 May 956 145 153 49 1,303 4,292 1,787 4,684 2,296 32 370 June 978 99 179 61 1,317 4,311 1, 779 4,687 2,314 30 376 July. 1,096 75 147 62 1,380 4,335 1,790 4,764 2,334 31 376 August 1,043 124 155 54 1,376 4,351 1,781 4,777 2,322 27 382 September. 969 229 165 64 1,427 4,368 1,766 4,811 2,335 28 387 October 885 337 154 74 1,450 4,381 1,785 4,810 2,386 28 392 November. 953 296 315 67 1,631 4,374 1,789 4,845 2,521 33 395 December. 320 446 74 1,643 4,324 1,797 4,943 2,395 27 399 1930—January... 501 314 485 1,357 4,283 1,784 4,652 2,349 29 394 February.. 378 285 480 1,181 4,317 1,781 • 4,554 2,305 27 393 March , 274 246 540 1,095 4,394 1,797 • 4,532 2, 330 27 397 April 231 266 530 1,072 4,443 1,781 4, 518 2,350 28 400 May _ 247 182 529 996 4,505 1,779 4,497 2, 356 29 398 June 251 141 571 1,000 4,528 1,775 4,489 2,392 27 395 July 226 154 583 1,003 4,532 1,789 4,483 2,417 35 389 August 214 153 599 998 4,496 1,787 4,476 2,392 28 385 September. 189 197 597 1,016 4,503 1,785 4,493 2,397 26 390 October 196 185 602 1,020 4,520 1,787 4,501 2,407 27 392 November. 221 184 599 1,033 4,553 1,793 4, 528 2,433 30 388 December, 338 257 644 1,273 4,583 1.793 4,823 2,415 27 384 r Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT 35 No. 3.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, WEEKLY AVERAGES [Averages of daily figures. In millions of dollars] Factors of de- Reserve bank credit outstanding crease Factors of increase Week e ( d S n a a y d t ) i u n — r g - co B u d i n i l s l t - s ed bo B u il g ls ht U S s i e n t t c a i i e u t t e e s r s d - r c O e b r s a e t e h n d r e v k i r t e Total M s t g t a o o o r c l n y d k e-u j T u r r e y ( s r a n e t e d c a c d u s - y r - ) - M i c n ti u o o c l n a n i e r - - y re a M b b s n b a a e c e e n l r e m r - v k s e - b p m N e o e r e s t o c m i n d t . s e - - , - c p U f a e u p n n n i e d d t x a e s - l d i 1 1930 Jan. 4 702 511 57 1,650 4,282 1,786 4,866 2,425 32 395 Jan. 11.-. 571 333 489 64 1,457 4,277 1,786 4,722 2,374 31 393 Jan.18.-. 461 319 481 64 1,325 4,282 1,791 4,629 2,348 28 393 Jan.25-_. 433 292 477 56 1,258 4.285 1,785 4,586 2,320 29 393 Feb. 1.... 415 273 477 39 1,204 ' 4,289 1,775 ' 4,549 2,299 26 394 Feb. 8— 393 290 478 41 1,202 '4,299 1,788 r 4,560 2,312 25 392 Feb. 15— 390 276 479 41 1,186 ••4,311 1,798 ' 4,563 2,308 33 391 Feb. 22... 366 282 481 39 1,168 ' 4,326 1,771 ' 4,549 2,296 26 394 Mar. 1—_ 360 289 482 34 1,165 ' 4,342 1,765 '4,546 2,307 25 391 Mar. 8—. 329 261 494 42 1,126 ' 4,362 1,797 ' 4,562 2,303 27 393 Mar. 15... 267 238 554 36 1,095 '4,387 1,810 ' 4,534 2,337 28 393 Mar. 22... 246 209 593 30 1,078 4,407 1,805 4,517 2,348 28 397 Mar. 29... 230 261 528 34 1,053 4,419 1,786 4,505 2,326 27 400 Apr. 5 249 292 532 44 1,117 4,427 1,772 4,540 2,350 27 398 Apr. 12... 242 271 528 33 1,074 4,435 1,781 4,529 2,337 26 398 Apr. 19— 220 285 533 57 1,095 4,439 1,786 4,531 2,358 31 400 Apr. 26— 228 251 528 47 1,054 4,449 1,780 4,500 2,354 29 40C May 3—. 252 210 529 42 1,033 4,481 1,780 4,502 2,361 30 4Q1 May 10— 263 184 528 43 1,018 4,496 1,781 4,508 2,356 31 400 May 17— 226 173 528 44 971 4,502 1,798 4,484 2,359 28 400 May 24... 222 180 529 33 964 4,512 1,772 4,475 2,348 27 398 May 31— 263 180 529 27 999 4,516 1,769 4,507 2,355 26 39ff June 7 262 185 540 34 1,021 4,522 1,781 4,509 2,393 27 395 June 14... 231 149 567 37 984 4,526 1,782 4,489 2,382 26 396 June 21... 244 127 596 43 1,010 4,529 1,774 4,482 2,408 27 396 June 28— 257 110 578 31 976 4,533 1,764 4,468 2,381 28 396 Julyfi 282 145 595 54 1,076 4,536 1,783 4,555 2,412 37 391 July 12... 252 155 589 43 1,039 4,537 1,783 4,526 2,410 34 389 July 19... 213 166 581 43 1,003 4,538 1,796 4,470 2,441 36 July 26... 196 151 574 32 953 4,528 1,793 4,436 2,414 35 Aug. 2 213 134 574 29 950 4,513 1,784 4,433 2,398 30 386 Aug. 9 245 137 589 34 1,005 4,497 1,784 4,466 2,402 30 38S Aug. 16—. 202 159 607 34 1,002 4,492 1,788 4,470 2,396 29 387 Aug. 23—. 199 159 603 31 992 4,493 1,788 4,475 2,386 27 385 Aug. 30— 200 162 602 29 4,501 1,791 4,486 2,387 26 386 Sept. 6..-. 223 177 602 1,040 4,501 1,783 4,526 2,387 26 385 Sept. 13... 187 198 592 1,014 4,502 1,793 4,493 2,403 27 386 Sept. 20... 169 207 595 1,008 4,504 1,802 4,481 2,414 28 391 Sept. 27... 170 200 601 997 4,503 1,771 4,469 2,385 25 392 Oct. 4 205 195 599 1,038 4,508 1,782 4,517 2,395 25 391 Oct. 11-... 189 200 601 1,Q25 4,515 1,789 4,521 2,391 25 Oct. 18.-.. 197 602 1,038 4,519 1,783 4,520 2,395 34 Oct. 25_... 195 602 1,007 4,522 1,783 4,482 2,414 25 391 Nov. 1 204 164 602 992 4,530 1,793 4,467 2,430 27 391 Nov. 8 220 189 602 1,038 4,536 1,793 4,506 2,435 35 391 Nov. 15— 198 203 601 1,038 4,549 1,800 4,498 2,465 33 391 Nov. 22.... 214 176 596 1,018 4,559 1,789 4,513 2,439 28 386 Nov. 29.... 246 172 597 1,037 4,567 1,787 4,580 2,403 25 383 Dec. 6 269 216 604 1,115 4,572 1,783 4,638 2,420 27 385 Dec. 13.... 293 249 617 1,179 4,577 1,794 4,730 2,409 27 384 Dec. 20—. 353 254 678 1,325 4,586 1,810 4,870 2,440 27 384 Dec. 27—. 423 262 644 1,386 4,590 1,787 4,977 2,376 26 38* Back figures.—SeeA nnual Report for 1929 (Tabl« 3). r Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

36 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 4.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, BY WEEKS (WEDNESDAY SERIES), 1929-30 [In millions of dollars] Unexpended capital funds, nonmember d it t Date Bills United Other Total Mone- (W d e a d y n ) es- countedb B ou il g ls ht s S e t t c i a e u t s e ri s - r c e b r s a e e n d r k v it er c e b r s a e e n d r k v it e s t g t a o o r c l y d k - m N b e o e m n r - - U pe n e n d e d x - - JLal de- capiposits, tal etc. funds 1929 Jan.2 1,151 484 244 1,910 4,127 1,777 4,933 387 39 348 Jan. 9 877 477 239 1,638 4,120 1,792 4,762 383 33 350 Jan. 16—. 822 481 238 1,604 4,108 1,783 4,697 383 32 351 Jan. 23.... 782 454 202 1,472 4,117 1,791 4,643 378 26 352 Jan. 30—. 821 436 202 1,485 4,128 1,789 4,630 381 28 353 Feb. 6.— 852 411 200 37 1,500 4,127 1,782 4,640 2,386 383 28 355 Feb. 13— 904 391 177 15 1,487 4,150 1,790 4,672 2,372 383 28 355 Feb. 20— 865 356 173 37 1,431 4,151 1,789 4,669 2,319 383 27 356 Feb. 27— 952 334 166 32 1,484 4,154 1,781 4,670 2,367 382 25 357 Mar. 6—. 989 305 163 44 1,501 4,158 1,772 4,691 2,350 390 30 360 Mar. 13... 956 283 165 49 1,453 4,160 1,802 4,665 2,363 387 26 361 Mar. 20... 943 237 185 36 1,401 4,170 1,811 4,654 2,340 388 26 362 Mar. 27... 1,024 208 170 27 1,429 4,174 1,787 4,667 2,332 391 28 363 Apr. 3-... 1,030 175 169 51 1,425 4,188 1,791 4,674 2,335 395 30 365 Apr. 10.-. 964 157 166 28 1,315 4,221 1,806 4,642 2,302 398 33 365 Apr. 17... 994 141 161 53 1,349 4,235 1,762 4,646 2,302 398 32 366 Apr. 24 — 975 141 150 32 1,298 4,245 1,775 4,631 2,290 397 29 368 May 1_... 986 170 151 59 1,366 4,266 1,773 4,661 2,336 408 41 367 May 8.— 962 157 149 46 1,314 4,289 1,778 4,651 2,330 400 31 369 May 15.-. 915 146 156 52 1,269 4,299 1,799 4,645 2,320 402 32 370 May 22— 904 138 153 28 1,223 4,300 1,787 4,635 2,276 399 29 370 May 29... 988 118 145 36 1,287 4,302 1,794 4,695 2,286 402 30 372 June 5 977 113 147 66 1,303 4,303 1,785 4,667 2,321 403 28 375 June 12._. 934 114 170 50 1,268 4,305 1,795 4,636 2,328 404 29 375 June 19— 959 87 139 67 1,252 4,314 1,766 4,635 2,292 405 30 375 June 26... 1,017 83 150 44 1,294 4,327 1,764 4,636 2,344 405 27 373 July 3.... 1,125 74 141 91 1,431 4,331 1,792 4,766 2,380 408 34 374 July 10... 1,153 66 136 55 1,410 4,328 1,784 4,817 2,303 402 29 373 July 17... 1,084 68 153 66 1,371 4,340 1,797 4,749 2,352 407 29 378 July 24... 1,064 69 146 50 1,329 4,346 1,789 4,704 2,357 403 28 375 July 31... 1,076 75 147 49 1,347 4,341 1,788 4,717 2,355 404 28 376 Aug. 7.— 1,064 79 158 52 1,353 4,347 1,773 4,741 2,323 409 30 379 Aug. 14... 1,028 118 154 52 1,352 4,350 1,783 4,745 2,330 410 28 382 Aug. 21... 986 132 149 42 1,309 4,353 1,782 4,744 2,292 408 27 381 Aug. 28... 974 157 145 41 1,317 4,359 1,787 4,748 2,306 409 25 384 Sept. 4.... 1,046 182 149 55 1,432 4,363 1,765 4,829 2,320 411 25 386 Sept. 11... 973 222 159 60 1,414 4,364 1,787 4,791 2,360 414 26 388 Sept. 18... 934 241 178 60 1,413 4,369 1,785 4,764 2,381 422 34 388 Sept. 25... 944 264 152 51 1,411 4,375 1,738 4,744 2,364 416 26 Oct. 2.... 931 323 146 80 1,480 4,374 1,750 4,789 2,399 416 27 389 Oct. 9...- 857 333 141 54 1,385 4,378 1,781 4,788 2,339 417 26 391 Oct. 16... 849 360 138 110 1,457 4,379 1,781 4,789 2,408 420 27 393 Oct. 23... 796 379 136 63 1,374 4,386 1,791 4,752 2,378 421 28 393 Oct. 30.-- 991 340 293 56 1,680 4,385 1,795 4,789 2,652 419 26 393 Nov6_... 991 330 293 40 1,654 4,380 1,782 4,830 2,558 428 34 394 Nov i3.-. 971 300 313 86 1,670 4,375 1,805 4,820 2,608 422 27 395 Nov. 20— 900 284 327 53 1,564 4,374 1,778 4,777 2,518 421 25 396 Nov. 27... 912 257 326 27 1,522 4,366 1,766 4,856 2,376 422 26 396 Dec. 4—. 872 257 355 57 1,541 4,369 1,781 4,867 2,401 423 26 397 Dec. 11... 769 322 387 48 1,526 4,354 1,807 4,869 2,397 421 25 396 Dec. 18... 737 309 533 63 1,642 4,321 1,811 4,937 2,408 429 28 401 Dec. 24... 763 355 485 120 1,723 4,294 1,788 5,059 2,320 426 24 402 Dec, 31... 632 392 511 47 1,582 4,284 1,778 4,866 2,355 423 30 393 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT 37 No. 4.—RESERVE BANK CREDIT AND FACTORS IN CHANGES, BY WEEKS (WEDNESDAY SERIES), 1929-30—Continued [In millions of dollars] Unexpended capital funds, nonmember deposits, etc. Treas- Mem- (W D d e a a d y t n e ) es- co B d u i i n s ll t - e s db B ou il g l h s t U s S e t n t c i a i e u t t s e e ri s d - r c O e b r s a t e e h n d r e v k i r t e c T b r o a e n t d a k i l t M s t g t a o o o r c l n y d k e- ju re c ( u s a u n t r d e r c y d - - y ) M i c n ti u o o c l n a n i e r - - y re a b b s n b a e a c e n r l e r - v k s e Total m N b d e o e e m n r - - - U p c e a n e n p d e d i x - - posits, tal etc. funds 1930 Jan. 8 568 319 485 1,420 4,277 1,784 4,690 2,367 424 Jan. 15 442 323 479 1,301 4,283 1,793 4,596 2,358 423 393 Jan. 22 433 298 477 1,269 4,284 1,782 4,553 2,360 422 393 Jan. 29 407 258 477 1,171 4,289 1,775 4,508 2,308 419 393 Feb. 5 381 296 478 1,194 4,302 1,786 •4,525 2,339 418 393 Feb. 12— 382 276 479 1,200 4,310 1,803 •4,542 2,308 463 393 Feb. 19—. 377 281 481 1,169 4,329 1,758 4,521 2,315 420 393 Feb. 26— 343 299 483 1,156 4,345 1,768 •4,505 2,346 418 393 Mar. 5 309 271 486 1,105 4,360 1,799 •4,528 2,315 421 394 Mar. 12. 266 257 514 1,068 4,384 1,816 •4,495 2,354 419 393 Mar. 19.... 206 185 561 983 4,405 1,806 4,481 2,291 422 396 Mar. 26.... 207 256 529 1,025 4,420 1,790 4,467 2,340 428 400 Apr. 2 241 301 530 1,124 4,424 1,774 4,518 2,375 429 400 Apr. 9 226 267 527 1,047 4,435 1,781 4,495 2,345 423 398 Apr. 16.... 214 302 535 1,099 1,775 4,505 2,380 427 401 Apr. 23.... 211 257 527 1,030 4,445 1,773 4,461 2,363 424 400 Apr. 30— 233 210 530 1,006 4,491 1,791 4,477 2,385 426 399 May 7 237 175 528 979 4,496 1,777 4,474 2,349 429 399 May 14— 210 171 528 952 4,502 1,800 4,446 2,379 429 400 May 21— 210 187 528 953 4,514 1,772 4,437 2,374 428 400 May 28— 247 176 530 976 4,516 1,766 4,491 2,347 420 397 June 4 240 544 1,004 4,523 1,782 4,476 2,412 421 June 11— 210 148 579 974 4,526 1,786 4,459 2,409 418 394 June 18 207 133 598 961 4,529 1,791 4,450 2,408 423 June 25 232 102 577 4,533 1,766 4,426 2,386 423 July 2 260 157 596 1,070 4,536 1,786 4,553 2,406 433 391 July 9 236 149 591 1,012 4,536 1,781 4,488 2,417 424 390 July 16... 207 169 577 1,000 4,540 1,796 4,447 2,460 429 390 July 23... 191 151 576 946 4,523 1,793 4,407 2,432 423 389 July 30... 197 131 576 927 4,516 1,785 4,397 2,415 416 388 Aug. 6 206 134 * 576 940 4,494 1,782 4,437 2,364 415 387 Aug. 13— 191 154 606 4,489 1,787 4,437 2,400 421 386 Aug. 20... 196 159 602 4,493 1,788 4,442 2,414 411 386 Aug. 27— 193 602 4,504 1,790 4,448 2,419 411 Sept. 3 231 170 602 1,041 4,500 1,775 4,511 2,393 412 385 Sept. 10... 183 193 602 1,008 4,504 1,794 4,465 2,428 413 386 Sept. 17 163 209 610 1,008 4,508 1,816 4,459 2,456 417 391 Sept. 24... 167 198 602 991 4,507 1,770 4,436 2,416 416 391 Oct.l 186 193 601 1,010 4,511 1,782 4,492 2,394 417 392 Oct. 8 173 211 600 1,012 4,514 1,784 4,487 2,408 415 390 Oct. 15-—. 210 185 602 1,044 4,519 1,796 4,500 2,440 419 391 Oct. 22-—. 192 177 602 992 4,523 1,788 4,450 2,437 416 391 Oct. 29-—. 202 166 601 985 4,533 1, 791 4,426 2,468 415 390 Nov. 5 213 186 602 1,010 4,534 1,779 4,491 2,410 422 Nov. 12.... 192 207 601 1,035 4,549 1,798 4,477 2,490 415 390 Nov. 19.,.. 205 178 596 1,003 4,556 1,783 4,482 2,449 411 Nov. 26.... 234 176 1,028 4,566 1,787 4,565 2,410 406 Dec. 3 251 219 602 1,108 4,572 1,772 4,615 2,424 413 387 Dec. 10.... 257 244 617 1,134 4,576 1,804 4,656 2,448 410 384 Dec. 17—. 331 252 692 1,297 4,584 1,822 4,837 2,455 411 385 Dec. 24..-. 448 260 642 1,425 4,589 1,775 5,014 2,367 408 384 Dec. 31—. 251 364 729 1,373 4,593 1,798 2,471 404 376 Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

38 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD RESERVE BANK CREDIT No. 5.—RESERVE BANK CREDIT OUTSTANDING, ANNUAL AVERAGES, 1915-1930 [Averages of daily figures. In thousands of dollars] Bills and securities held by Federal reserve banks R b e a se n r k ve f D ro u m e Reserve Year ou c t r i s n e t d a g n it d- B co il u ls n t d e i d s- b B ou il g ls ht se U S c n t u a i r t t i e e ti s d es se O cu th ri e ti r es F o l o n o r a g e n o ig s ld n f b o a re n i k g s n bank float 1915 i 60,149 24,371 10,430 7,931 17,417 1916 1163,350 24,140 65,508 47,161 26,541 1917 523,120 193,783 150,094 89,207 6,893 a 83,143 1918 1,723,168 1,134,486 287,147 134,177 352 536 » 166,470 1919 2,625,406 1,905,697 323,939 254,384 1 2,765 a 138,620 1920 3,390,422 2,523,073 385,420 323,661 793 a 157,475 1921 2.198.238 1,797,226 91,150 263,864 44 692 45,262 1922 1,226,334 571, 220 159,102 454,777 66 699 40,470 1923 L, 204,752 735,608 226, 767 185,504 85 701 56,087 1924 996,467 372,121 172,437 402, 271 1,210 486 644 47,298 1925 1,195,397 480, 609 287,482 358,760 2,473 9,218 671 56,184 1926 L, 257,859 568,166 281,104 349, 599 3,396 4,114 674 50,806 1927 L, 175,035 442, 287 263, 258 417,480 1,513 8,643 41,854 1928 L, 505,085 839,942 327,806 297,499 2,124 603 37, 111 1929 L, 459, 264 950, 580 241,399 207, 659 13,420 1,068 732 44,406 1930. L, 086,870 271,727 213,201 563,672 8,295 804 29,171 i Exclusive of reserve bank float for which figuresa re not available. a Includes Government overdrafts. No. 6.—RESERVE BANK CREDIT OUTSTANDING, BY MONTHS, 1922-1930 [Monthly averages of daily figures. In thousands of dollars] Bills dis- Bills U St n a i t t e e s d Other se-Foreign f D ro u m e Reserve Month Total counted bought se t c ie u s ri- curities loa g n ol s d on f b o a re n ig k n s b fl a o n a k t 1922—January 1,326,095 961,966 98,195 237,637 302 694 27,301 February 1,233,072 768,836 87,507 356,906 195 697 18,931 March 1,206,587 638,208 92,318 458,584 102 16,677 April 1,210,045 572,466 93,003 520,224 90 23,564 May 1,207,841 479,100 103,452 603,499 21,091 June 1,191,524 437,436 135,591 590,690 701 27,106 July 1,169,986 425,399 152,550 547,083 701 44,248 August , 1,102,169 395,588 159,490 497,185 701 49,196 September.... 1,179,870 417,251 211,538 485,989 701 64,373 October 1,245,574 486,155 251,534 448,129 701 59,033 November.... 1,264,889 623,372 259,871 325,319 701 55,599 December 1,377,109 660,427 259,296 379,939 701 76,715 1923— January 1,248,888 547,058 217,939 420,977 701 62,193 February... 1,205,043 608,165 189,819 355,737 701 50,621 March 1, 228, 242 627, 799 233, 753 315,848 17 701 50,124 April 1, 214,466 657,730 272,439 228,664 39 701 May 1,221,737 705, 312 271, 333 193,224 49 701 51,118 June 1,178,370 741,246 224,313 153,395 56 701 58,659 July 1,179,386 186,002 96, 533 19 701 62,047 August -. 1,127,239 808,870 175,351 90,016 15 701 52,286 September.. 1,183,823 845, 227 173,909 101,690 138 701 62,158 October.... 1,204,123 873,142 184,838 91,450 317 701 53,675 November.. 1, 204, 312 798, 529 264,951 83,456 255 701 56,420 December.. 1,260,198 771,034 323, 901 105,893 701 58,581 1924—January 1,040,781 573,865 299,914 117, 576 27 701 February... 955, 227 513, 920 272, 678 134, 611 19 701 March 475, 712 228,101 244,121 73 701 41,130 April 981, 361 488, 558 170, 525 273, 601 52 701 47,924 May 879, 242 432,613 79,995 323, 557 342 701 42, 034 June 886, 324 370,159 50, 376 416, 251 1,276 701 47,561 July 878, 500 315,343 43,878 466, 530 1,250 701 50, 798 August 880,895 268, 475 29,532 539, 409 1,540 701 41, 238 September.. 982, 574 261, 655 91, 617 575, 360 2, 963 596 50, 383 October 1, 057,166 240, 200 179,735 585,118 1,933 476 49, 704 November.. 1,134,950 228, 236 268,346 587, 666 2,987 477 47, 238 December.. 1,288,061 301, 351 357, 504 554, 048 2,056 15,734 573 66,795 * Foreign loans on gold outstanding from Dec. 2,1924, to Aug* 2.192, 6M, ar.7 to Mar,18, 1929, and Apr. 11 to May 10, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

39 KESERVE BANK CREDIT No. 6.—RESERVE BANK CREDIT OUTSTANDING, BY MONTHS, 1922-1930— Continued [Monthly averages of daily figures. In thousands of dollars] Month Total B c i o l u l n s t d e i d s- bo Bi u l g l h s t U s S e t n t i c a e i u t t s e e ri s d - O c t u h ri e t r i s e e s - l F o o a g r n o e s l i d g o n n f b o f D a r r o e n u i m k g e s n R b e fl a s o e n a r k t ve 1925—January 1,125, 416 267,003 329, 258 463, 722 2,53& 8,224 641 54,029 February... 1, 094, 047 340,253 313,419 383, 790 2,973 10,500 642 42,470 March 1,121,951 389, 611 298,177 375,566 2,652 10,500 720 44,725 April 1,109, 656 402, 766 287, 322 354.984 1,643 10,500 639 51, 802 May 1, 099,973 397, 352 279,054 361, 261 1,867 10, 500 I 640 49,299 June. 1,118, 344 437,177 263,497 344, 969 2,250 10,500 ! 730 59, 221 July 1,118, 239 480,105 231,122 337,667 2,044 10,500 ! 636 56,165 August 1,142,706 545,196 205, 401 329,091 2,058 10,469 645 49,846 September. 1, 226, 636 594, 080 225,728 335, 425 2,414 7,954 735 60, 300 October 1, 320,582 618,770 298, 211 327, 685 2,703 7,378 639 65,196 November.. 1, 351, 693 597,158 351, 751 331,962 3,378 5,260 652 61, 532 December. „ 1,506,515 687,766 368,659 359, 242 3,191 8,367 738 78, 552 1926—January 1, 278,808 519,917 323, 874 367, 789 3,143 6,852 642 56,591 February... 1, 218, 403 525, 678 304, 816 334, 816 3,185 7,131 | 709 42, 068 March 1, 216,042 556, 541 267, 833 335, 742 3,653 8,201 ! 696 43, 376 April 1, 203,653 537, 003 234,409 370,754 4,886 8, 687 645 ' 47, 269 May 1,199,838 511, 490 232, 219 398, 201 4,103 7,758 I 707 45,360 June 1,185, 468 472,871 243, 233 407,896 3,453 7,407 | 676 49,932 July 1, 221, 421 549,107 229,923 379, 618 3,117 3,521 ! 681 55, 454 August 1, 202, 639 555, 241 245,117 353,192 3,373 90 702 44,924 September.. 1, 277,787 639, 508 264,813 315,530 3,700 659 53,577 October 1, 321, 568 663, 296 295, 249 306,189 3,042 677 53,115 November.. 1, 318, 027 614, 501 348, 365 302, 434 2,525 650 49, 552 December.. 1, 445,340 668,453 384, 603 321.540 2,579 650 67,515 1927—January 1,185,778 480, 622 343,448 310,486 3,550 657 47,015 February. __ 1,043,082 392.996 304,071 2,250 658 36, 501 March 1,055,163 424,543 252, 722 344,922 2,064 658 30,254 April 1,087,141 447,286 248,429 341,081 2,061 659 47, 625 May 1,041,397 472,984 233,224 291,495 1,801 660 41,233 June 1,081,275 428, 563 205, 273 397,754 1,533 8,627 39,525 July. 1,114, 788 453.997 189,774 381,081 1,300 45,370 43, 266 August 1,093,486 409,439 173,122 438, 511 758 36,190 35,466 September- 1,187, 227 422,192 215,926 500, 637 587 7,141 40, 744 October 1,254,435 424,413 281,903 506,177 698 628 40,616 November- 1,377,128 415,216 335,908 579,238 646 564 45, 556 December - 1,567,814 528, 624 377,712 605,841 942 566 54,129 1928—January 1,387, 591 465, 275 372, 538 511,852 657 566 36, 703 February... 1,263,814 470,680 359, 883 405, 551 535 566 26, 599 March 1,295, 246 513, 233 342,790 414, 681 821 568 23,153 April 1,405,135 660,927 358,026 351,105 990 570 33, 517 May 1,471, 559 835, 502 348, 600 256,686 1,000 571 29,200 June 1, 531,103 1,018, 735 243,540 231,907 790 573 35,558 July.. 1, 530,993 1,089, 579 185,018 212,978 490 572 42,356 August 1,485,196 1,060,811 177,951 209,610 764 574 35,486 September.. 1,581,421 1,064,302 226,033 240,429 3,177 574 46, 906 October 1,621,327 975,204 367, 595 236,914 4,433 645 36, 536 November... 1, 652,841 897,309 470, 638 238,335 4,160 729 41, 670 December., 1,824,070 1,013,003 482, 704 262, 776 7,597 727 57, 263 1929—January 1,613,093 859,223 472,543 228,528 9,608 730 42,<:61 February... 1,501,565 889,207 384,662 184,241 9,474 729 33, 252 March 1,480,931 968,565 265,430 196,746 8,410 2,928 723 38,129 April 1,377,282 1,004,440 155,686 165,311 7,073 5,854 723 38,195 May 1,303,411 956,274 144,899 152,870 7,446 3,979 726 37,217 June 1,316,801 978,009 99,489 179,370 11,427 729 47,777 July 1,379,796 1,095,623 74,815 147,473 10,558 728 50,599 August 1,376,086 1,043,467 124,441 154, 513 13, 644 724 39, 297 September- 1,426,890 969,000 229,395 164, 579 15,594 740 47,582 October 1,449,620 884, 501 337,121 154,462 20,387 764 52,385 November- 1,631,397 952,640 296, 212 315, 289 21,440 740 45,076 December. . 1,643,073 803,352 319,997 446,066 13,083 722 59,853 1930—January 1,356,721 500, 780 313,839 484,818 13, 213 722 43,349 February—. 1,181, 330 377, 644 285,152 480,121 12,817 721 24,875 March 1,094,634 273, 517 245, 562 539, 513 10,383 722 24,937 April 1,072,438 231,172 266,141 529, 989 9,101 712 35,323 May 995,534 246,890 181, 725 528,636 8,413 710 29,160 June 999, 628 251, 237 141,173 571,175 5,587 708 29, 748 July. 1,003, 327 226, 041 153,896 582, 889 7,341 705 32, 455 August 998,473 213, 987 152, 898 598,649 8,348 703 23,888 September.. 1,015, 903 188, 700 196, 630 597, 030 7,282 701 25, 560 October 1,019, 750 196,388 185, 470 601, 582 6,400 1,720 28,190 No vember.. 1, 033, 401 220, 769 184, 212 599, 065 6,311 705 22,339 December.. 1, 273,145 337, 557 256, 596 643,880 4,617 29, 691 Back figures.—See Annual Report for 1928 (Table 1). Digitized for FRAS3E3R4 54—31 4 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

40 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 7.—DEPOSITS, RESERVES, NOTE CIRCULATION, AND RESERVE PERCENT- AGES OF FEDERAL RESERVE BANKS, BY MONTHS, 1926-1930 [Monthly averages of daily figures. In thousands of dollars] Deposits Cash reserves Federal Re- Month Total M b e a m n b k er U m G er . e o S n n . - v t - F go o b a v r a n e e n r i d g k n n - Other Total Excess n c r u o e l t s a e e t r c i v o i e r n - c s p a e e e n r g r v e t - - e ment 1926 January 2,289,298 2,235,986 23,714 7,944 21,654 2,922,466 1,426,550 1,736,653 72.5 February 2,274,728 2,208,272 40,736 5,999 19.721 2,925,529 1,459,140 1,675,586 74.1 March 2,276,724 2,197,682 52,511 7,254 19,277 2,933,885 1,467,665 1,673,416 74.3 April 2,251,846 2,183,479 42,143 5,502 20.722 2,932,794 1,474,570 1,675,195 74.7 May 2,253,294 2,199,229 27,671 5,248 21,146 2,952,013 1,488,672 1,686,721 74.9 June 2,241,415 2,205,974 12,193 5,738 17,510 2,975,552 1,509,732 1,703,312 75.4 July 2,262,420 2,211,545 26,246 5,407 19,222 2,969,505 1,491,804 1,714,636 74.7 August 2,253,350 2,200,909 25,098 10,127 17,216 2,965,896 1,497,539 1,699,212 75.0 September 2,273,205 2,211,367 31, 723 10,856 19,259 2,950,380 1,460,967 1,734,479 73.6 October 2,280,180 2,219,023 34,264 7,271 19,622 2,934,877 1,436,684 1,750,326 72.8 November 2,279,135 2,214,441 28,229 11,917 24,548 2,955,169 1,450,555 1,767,291 73.0 December 2,289,632 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 77.9 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 2,366,808 18,807 6,483 22,954 2,714,744 1,128,688 1,851,969 63.6 1929 January 2,436, 250 2,386,746 18,165 6,530 24,809 2,777,763 1,236,228 1,722,118 66.8 February 2,406,651 2,357,297 20,853 5,995 22,506 2,826,670 1,318,945 1,663,492 69.4 March 2, 384,675 2,336, 507 16,820 9,239 22,109 2,848,586 1,346,046 1,669,759 70.3 April 2,367,519 2,307,945 24,817 12,312 22,445 2,936,935 1,439,941 1,670,904 72.7 May 2,350,927 2, 296,409 22,498 7,997 24,023 2,987,484 1,499,258 1,663,504 74.4 June 2,374,439 2,314,338 6,723 22,995 3,011,015 1,513,157 1,667,011 74.5 July 2,384,979 2,333, 545 20,389 7,187 23,858 3,078,382 1, 528,162 1, 788, 692 73.8 August 2,368,430 2,322,411 5,584 21,466 3,117,555 1,556,187 1,831,044 74.2 September 2,395,383 2, 334, 541 33, 313 6,801 20, 728 3,135,894 1, 549, 600 1,869,776 73.5 October 2,437,987 2,385,644 24,233 21,765 3,157,885 1,555,552 1,872, 594 73.3 November 2,576,514 2, 521,324 22,648 5,660 3,166,713 1,489,966 1,937,418 70.2 December 2,437,914 2,395,022 15, 859 5,775 21, 258 3,040,010 1,408,179 1,946,402 69.3 1930 January 2. 402,494 2, 349, 236 23, 769 6,132 23, 357 3,124, 536 1, 564,910 1, 796, 883 74.4 February 2, 361, 760 2,305, 237 29, 091 6,265 21,167 3,161, 315 1,663, 575 1,677,809 78.3 March 2, 373, 079 2, 330, 058 15, 651 6,761 20,609 3, 202, 080 1,725,122 1, 615, 952 80.3 April.__. 2, 408,039 2,350,129 29,967 5,983 21,960 3, 209, 467 1,744,689 1, 554, 910 81.0 May. 2, 418,430 2, 356, 320 33, 590 5,625 22,895 3, 226, 367 1, 785, 713 1, 485, 509 82.6 June 2, 457, 689 2, 391, 649 38, 548 6,046 21,446 3, 212, 839 1, 776,127 1, 441,303 82.4 July 2,476,724 2, 417, 484 24, 473 6,096 28, 671 3,169, 856 1, 746, 896 1, 390, 267 82.0 August 2, 447,713 2,392, 225 27, 815 6,015 21,658 3,101, 926 1,706,403 1,347, 058 81.7 September 2,451, 862 2, 397,156 28, 338 5,656 20, 712 3,106, 714 1, 702,133 1, 366, 074 81.4 October 2, 464,406 2, 406, 590 30, 638 5,576 21,602 3,135, 397 1, 720, 542 1, 380, 781 81.5 November 2,488, 235 2, 432, 662 25,149 5,524 24, 900 3,158,122 1, 729, 503 1, 394, 342 81.3 December 2, 467,472 2, 415, 005 25, 811 6,147 20, 509 3, 088, 468 1, 590, 033 1, 587, 050 76.2 Back figures.—See Annual Report for 1928 (Table 2). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EESERVE BANK CREDIT 41 No. 8.—PRINCIPAL RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS, BY WEEKS [In millions of dollars] Bills and securities Deposits Federal Bills bought U. S. securities Total re- Date cash Mem- serve Total* c B o d e u i i d s l n l - s t- Total Bo o u u g t- ht re U d s e n a r l - e Total Bo o u u g t- ht re U d s e a n r l - e se r r e v - es Total re b b s b a a e e n l r r - k ve p O o d t e s h i - e ts rn i c t n o i u o t l c e a n i s - r right agree- right agree- ances ment ment 1930 Jan. 8 1,384 568 319 197 121.9 485 477 8.3 3,105 2,422 2,367 55 1,837 Jan.15__. 1,260 442 323 203 120.2 479 477 2.6 3,155 2,404 2,358 46 1,782 Jan.22.. 1,223 433 298 200 98.0 477 477 3,172 2,415 2,360 55 1,739 Jan.29... 1,154 407 258 186 72.8 477 476 .1 3,188 2,369 2,308 61 1,702 Feb. 5 1,167 381 296 214 81.7 478 477 1.2 3,176 2,389 2,339 50 1,683 Feb. 12... 1,148 382 276 212 63.9 479 477 2.1 3,173 2,390 2,308 82 1,682 Feb. 19... 1,153 377 281 222 58.8 481 478 3.0 3,177 2,391 2,315 76 1,656 Feb. 26... 1,139 343 299 233 66.8 483 478 5.1 3,187 2,408 2,346 62 1^637 Mar. 5.... 1,078 309 271 220 51.2 486 485 1.1 3,184 2,349 2,315 34 1,641 Mar. 12... 1,049 266 257 203 54.0 514 512 2.1 3,223 2,381 2,354 27 1,609 Mar. 19... 961 206 185 177 7.9 561 558 3.2 3,221 2,319 2,291 29 1,584 Mar. 26— 1,001 207 256 144 112.7 529 526 2.7 3,242 2,388 2,340 49 1,573 Apr. 2____ 1,082 241 301 158 143.0 530 527 3.6 3,209 2,443 2,375 68 1,576 Apr. 9..__ 1,029 226 267 170 97.2 527 527 .4 3,221 2,395 2,345 51 1,558 Apr. 16... 1,061 214 302 188 114.6 535 527 8.2 3,209 2,443 2,380 63 1,548 Apr. 23... 1,005 211 257 178 79.0 527 527 .2 3,225 2,422 2,363 59 1,518 Apr. 30... 982 233 210 162 47.7 530 527 2.4 3,252 2,434 2,385 49 1, 507 May7—_ 951 237 175 137 38.6 528 527 .7 3,242 2,413 2,349 64 1,493 Mayl4._. 920 210 171 150 20.7 528 527 .8 3,248 2,421 2,379 41 1,465 May21._. 932 210 187 148 39.0 528 526 2.0 3,248 2,439 2,374 65 1,453 May 28... 959 247 176 130 45.5 530 529 .7 3,221 2,421 2,347 74 1,466 June 4 979 240 189 128 61.3 544 542 2.0 3,225 2,465 2,412 53 1,457 June 11. _. 943 210 148 108 40.5 579 578 .3 3,244 2,463 2,409 54 1,447 June 18... 943 207 133 99 33.3 598 576 21.3 3,234 2,465 2,408 56 1,419 June 25... 916 232 102 95 7.6 577 577 .4 3,232 2,459 2,386 73 1,402 July2.._. 1,021 260 157 133 24.6 596 582 13.9 3,151 2,474 2,406 67 1,432 July 9.... 983 236 149 123 26.3 591 577 13.4 3,178 2,481 2,417 64 1,407 July 16. .. 960 207 169 154 14.7 577 577 .2 3,197 2,516 2,460 56 1,382 July 23... 925 191 151 145 5.5 576 576 .1 3,194 2,485 2,432 53 1,356 July 30... 912 197 131 128 2.8 576 576 .04 3,178 2,469 2,415 54 1,335 Aug. 6 923 206 134 120 13.6 576 576 3,127 2,423 2,364 60 1,339 Aug. 13... 960 191 154 140 14.2 606 606 .2 3,115 2,464 2,400 64 1,333 Aug. 20... 965 196 159 153 7.3 602 602 .1 3,107 2,469 2,414 56 1,324 Aug 27 967 193 163 159 4.1 602 602 3,120 2,470 2,419 51 1,337 Sept. 3__. 1,012 231 170 160 10.3 602 602 .4 3,086 2,454 2,393 61 1,368 Sept. 10... 985 183 193 177 15.7 602 602 .2 3,112 2,477 2,428 48 1,351 Sept. 17... 989 163 209 203 5.7 610 610 .4 3,127 2,486 2,456 29 1,349 Sept. 24... 973 167 198 192 5.6 602 602 .2 3,141 2,484 2,416 67 1,348 Oct. 1 987 186 193 181 12.3 601 600 .8 3,128 2,457 2,394 62 1,376 Oct. 8 991 173 211 183 27.9 600 600 .2 3,126 2,466 2,408 58 1,365 Oct. 15. _. 1,004 210 185 156 29.7 602 602 3,126 2,492 2,440 52 1,372 Oct. 22_ _. 977 192 177 158 19.0 602 602 3,168 2,489 2,437 52 1,369 Oct. 29__. 975 202 166 162 3.8 601 601 3,192 2,519 2,468 51 1,355 Nov. 5-_. 1,006 213 186 176 9.2 602 602 .1 3,146 2,479 2,410 70 1,367 Nov. 12... 1,007 192 207 202 5.5 601 601 3,177 2,540 2,490 49 1,371 Nov. 19... 985 205 178 173 5.6 596 596 3,191 2,514 2,449 65 1,384 Nov. 26... 1,012 234 176 170 6.2 596 596 3,164 2,463 2,410 53 1,422 Dec. 3 1,078 251 219 203 15.6 602 602 3,145 2,492 2,424 68 1,451 Dec. 10... 1,118 257 244 223 20.3 617 604 I3."6" 3,141 2,490 2,448 42 1,476 Dec. 17... 1,283 331 252 224 27.7 692 692 3,091 2,484 2,455 29 1,596 Dec. 24._. 1,356 448 260 222 38.1 642 640 ~2.~0~ 3,038 2,437 2,367 70 1,722 Dec. 31... 1,352 251 364 325 39.1 729 686 43.4 3,082 2,517 2,471 47 1,664 i Includes "other securities." Bock figures.—See Annual Report for 1929 (Table 7), 1928 (Table 5), 1927 (Table 5), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

42 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 9.—FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES IN DETAIL, DECEMBER 31, 1930 1 [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 ___ 1,730,439 Gold redemption fund with United States Treasury __.. _._ _. 35,211 Gold held exclusively against Federal reserve notes 1,765,650 Gold settlement fund with Federal Reserve Board 417,440 Gold and gold certificates held by banks: Gold coin ._ ..._ 194,097 Gold bullion and foreign gold coin _ 68, 549 Gold certificates _ _ 495,483 Total gold and gold certificates held by banks 758,129 Total gold reserves. _ __ 2,941,219 Eeserves other than gold: Legal-tender notes 47,362 Silver certificates _ _ 85, 324 Standard silver dollars _ 7,612 Total reserves other than gold _. 140,298 Total reserves _ 3, 081, 517 Nonreserve cash: National-bank notes 52, 492 Federal reserve bank notes.. _ _ 19 Subsidiary silver, nickels, and cents _ _ 27, 421 Total nonreserve cash _ _ 79,932 Bills discounted: Secured by United States Government obligations 89,421 Other bills discounted 161,977 Total bills discounted _ _ _ 251,398 Bills bought in the open market: Bills bought outright 324, 746 Bills bought under resale agreement 39,098 Total bills bought in open market _ _ _ 363,844 United States securities bought under resale agreement: Liberty bonds.. ._ 15, 618 Treasury bonds 7,000 Treasury notes 18, 360 Certificates of indebtedness __ 2,425 Total United States securities bought under resale agreement 43,403 United States securities bought outright: Liberty bonds _ 97,972 Bonds issued since 1921 40,674 Other United States bonds 2, 521 Total bonds 141,167 Treasury notes ._ 208,113 Certificates of indebtedness 312,603 Treasury bills . _ - 24,181 Total United States securities bought outright 686, 064 Total United States Government securities _ 729,467 Other securities: Federal intermediate credit bank debentures,. 6, 300 Federal land bank bonds _ Municipal warrants _- 843 Total other securities 7,143 Total bills and securities 1,351,852 Due from foreign banks _ 704 Federal reserve notes of other reserve banks... 21,99S Uncollected items: Transit items.. ._ 536,324 Exchanges for clearing house 22, 773 Other cash items _ 25,686 Total uncollected items 584, 783 i Before closing of books at end of year. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT 43 No. 9.—FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES IN DETAIL, DECEMBER 31, 1930 *—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 Bank premises - - 59,783 All other resources: Claims account closed or suspended banks - - 10,562 Overdrafts—member banks - - Premium on securities . - -- 6,228 Interest accrued . - 3,374 Deferred charges 684 Suspense account and miscellaneous assets . - --. 1,185 Total all other resources --- - 22,033 Total resources - - 5,202,597 LIABILITIES Federal reserve notes outstanding (issued to Federal reserve bank) 2,093,625 Held by banks and branches _ 417,086 Forwarded for redemption - - 13,001 Federal reserve notes in actual circulation 1,663,538 Deposits: Members—reserve account.- — - 2,469,599 Government _ .. 18,803 Foreign bank _ _ .._ _ 5,761 Other deposits— Nonmembers' clearing account 18,376 Officers' checks _ _. 2,211 Federal reserve transfer and exchange drafts 302 All other 1,081 Total other deposits... _ 21,970 Total deposits - 2,516,133 Deferred availability items: Government transit items._. 5,719 All other transit items 558,287 Total deferred availability items 564,006 Capital paid in _ 169,640 Surplus 276,936 All other liabilities: Earnings- Gross earnings _ 36,424 Current expenses 28,343 Current net earnings 8,081 Add—Profit and loss _ 2,960 Deduct— Furniture and equipment _ _ 541 Dividends accrued since closing of books 10,269 Net earnings available for depreciation allowances, reserve, surplus, and franchise tax _ _ 231 Reserve for self-insurance _ 4, 573 Reserves for losses account failed or suspended banks _ 3,703 Miscellaneous reserves 259 Accrued dividends unpaid ._ 991 Unearned discount _.. 1,052 Accrued taxes, other than franchise tax, unpaid _ 743 Discount on securities _ 189 Suspense account and miscellaneous liabilities., 603 Total all other liabilities 12,344 Total liabilities 5,202,597 Contingent liability on bills purchased for foreign correspondents _ 439,288 1 Before closing of books at end of year. Back figures.—See Annual Report for 1929 (Table 8), 1928 and 1927 (Table 6), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

44 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 10.—RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS AT THE ENI> OF EACH MONTH [In millions of dollars] 1929 1930 Dec. 31 Jan. 31 Feb. 28 Mar.31 Apr. 30 May 31 June 30 RESOURCES Gold with Federal reserve agents 1,677 1,650 1,619 1,695 1,642 1,608 1, 596 Gold redemption fund with U. S. Treasury— 73 58 54 52 41 38 37 Gold held exclusively against Federal reserve notes 1,750 1,708 1,674 1,747 1,683 1,646 1,633 Gold settlement fund with Federal Reserve Board 511 650 646 602 635 627 603 Gold and gold certificates held by banks: United States gold coin 139 151 167 152 183 186 189 Gold bullion and foreign coin . 124 138 138 152 161 161 162 Gold certificates _ 333 312 340 363 411 419 425 Total gold reserves 2,857 2,960 2,965 3,015 3,073 3,038 3,012 Reserves other than gold. _. 154 197 186 182 179 157 162 Total reserves 3,011 3,157 3,151 3,198 3,252 3,195 3,174 Nonreserve cash _ _ 82 67 61 61 63 56 57 Bills discounted _ 632 394 353 310 233 313 272 Bills bought: Outright 237 198 233 144 162 135 104 Under resale agreement _ 155 96 37 135 48 50 24 Total bills bought 392 294 270 279 210 185 128 United States securities: Bought outright 488 477 477 527 527 526 581 Under resale agreement 23 2 3 8 2 2 10 Total United States securities 511 479 480 535 530 528 591 Other reserve bank credit: Other securities 12 12 13 9 10 6 5 Due from foreign banks ._ 1 1 1 1 1 1 1 Reserve bank float 1 34 28 23 16 23 16 21 Total reserve bank credit outstanding.. 1,583 1,209 1,140 1,149 1,006 1,049 1,018 Uncollected items not included in float 673 512 583 481 563 512 509 Federal reserve notes of other banks.._ _. 42 28 25 20 21 21 20 Bank premises 57 58 58 59 59 59 60 All other resources _ 11 13 15 12 12 12 12 Total resources __ 5,458 5,042 5,033 4,980 4,974 4,903 4, 850 LIABILITIES Federal reserve notes: Held by other Federal reserve banks. 42 28 25 20 21 21 20 Outside Federal reserve banks 1,868 1,683 1,631 1,574 1,486 1,468 1, 404 Total notes in circulation 1,910 1,711 1,656 1,594 1,507 1,489 1,424 Deposits: Member bank—reserve account 2,355 2,293 2,260 2,367 2,385 2,369 2,389 Government _ 29 38 42 40 23 43 27 Foreign bank 6 6 7 7 5 6 6 Other deposits 24 19 18 20 21 18 34 Total deposits 2,414 2,356 2,327 2,435 2,434 2,436 2,455 Deferred availability items 673 512 583 481 563 512 509 Capital paid in.. 171 172 172 174 174 171 170 Surplus 277 277 277 277 277 277 277 All other liabilities 14 16 18 18 19 19 15 Total liabilities 5,458 5,042 5,033 4,980 4,974 4,903 4,850 Contingent liability on bills purchased for foreign correspondents 548 526 503 482 465 463 470 i Uncollected items in excess of deferred availability items. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

45 RESERVE BANK CREDIT No. 10.—RESOURCES AND LIABILITIES OF FEDERAL RESERVE BANKS AT THE END OF EACH MONTH—Continued 1930 July 31 Aug. 31 Sept. 30 Oct. 31Nov. 30 Dec. 31 RESOURCES Gold with Federal reserve agents 1,549 1,564 1,559 1,581 1,592 1,730 Gold redemption funti with United States Treasury... 37 36 35 35 35 35 Gold held exclusively against Federal reserve notes . _. _ . 1,586 1,600 1,594 1,615 1,628 1,766 Gold settlement fund with Federal Reserve Board 596 571 549 514 472 » 417 Gold and gold certificates held by banks: United States gold coin 189 190 186 204 203 194 Gold bullion and foreign coin 149 98 101 99 97 69 Gold certificates 470 467 536 571 581 495 Total gold reserves 2,990 2,927 2,967 3,004 2,981 2,941 Reserves other than gold 170 153 150 145 134 140 Total reserves 3,160 3,079 3,118 3,149 3,115 3,082 Nonreserve cash ._ . 63 58 63 61 54 80 Bills discounted 200 215 272 207 275 251 Bills bought: Outright. 128 167 193 160 167 325 Under resale agreement 2 1 16 3 8 39 Total bills bought 130 168 209 163 175 364 United States securities: Bought outright 576 602 597 602 599 686 Under resale agreement 43 Total United States securities _ 577 602 597 602 599 729 Other reserve bank credit: Other securities 7 9 7 6 6 Due from foreign banks 1 1 1 1 1 1 Reserve bank float1 20 32 17 19 23 21 Total reserve bank credit outstanding 934 1,025 1,103 998 1,079 1,373 Uncollected items not included in float 504 457 558 497 547 564 Federal reserve notes of other banks 19 20 18 16 14 22 Bank premises 60 60 60 60 60 58 All other resources .. . 14 16 12 14 21 22 Total resources 4,755 4,716 4,932 4,794 4,889 5,201 LIABILITIES Federal reserve notes: Held by other Federal reserve banks . ._ 19 20 18 16 14 22 Outside Federal reserve banks . . . 1,322 1,354 1,361 1,351 1,442 1,642 Total notes in circulation 1,342 1,374 1,379 1,368 1,455 1,664 Deposits: Member bank—reserve account 2,396 2,378 2,467 2,418 2,373 2,471 Government .. 23 21 39 18 23 19 Foreign bank 7 5 5 5 6 6 Other deposits 22 18 21 23 20 22 Total deposits 2,447 2,423 2,532 2,465 2,422 2,517 Deferred availability items . 504 457 558 497 547 564 Capital paid in 170 170 171 170 170 170 Surplus _. 277 277 277 277 277 275 All other liabilities 15 15 15 17 18 12 Total liabilities 4,755 4,716 4,932 4,794 4,889 5,201 Contingent liability on bills purchased for foreign correspondents 479 471 432 433 429 439 1 Uncollected items in excess of deferred availability items. 2 Less than $500,000. Back figures.—See Annual Report for 1929 (Table 9), 1928 and 1927 (Table 7), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

46 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 11.—CONDITION OF EACH FEDERAL RESERVE BANK AT THE END OP 1929 AND 1930 [In thousands of dollars] Boston New York Philadelphia 1929 1930 1929 1930 1929 1930 Total gold reserves 267,212 201,269 749,860 1,007,122 203,721 238,552 Reserves other than gold- 16,772 10,096 50,382 39,879 12,471 8,874 Total reserves_. 283,984 211,365 800,242 1,047,001 216,192 247,426 Nonreserve cash 10,902 6,473 12,946 22,285 5,146 Bills discounted 26,644 13,238 171,759 61,898 65,777 25,663 Bills bought 29,878 25, 315 191,745 158,273 8,540 3,496 United States securities. 25,850 49,925 239,206 283, 332 41,806 54,204 Other securities 1,000 850 7,150 2,850 1,000 610 Total bills and securities 83,372 89,328 609,860 506,353 117,123 83,973 Due from foreign banks 53 52 218 231 68 Federal reserve notes of other banks.. 326 337 16, 815 7,173 350 Uncollected items 78, 533 65, 638 203,188 183,283 59,016 51,802 Bank premises... __ 3,580 3,458 15,664 15,240 1,762 2,614 All other resources 81 76 8,615 106 136 Total resources.. 460, 831 376, 727 1,662,216 1,790,181 398,019 391,515 LIABILITIES Federal reserve notes in circulation.. 206, 558 132, 035 318,971 384,976 162, 344 153,727 Deposits: Member bank—reserve account. 141,547 150,936 985,791 1,062,276 133,193 142,539 Government __ 2,013 829 5,851 4,113 2,329 1,344 Foreign bank ___ 415 425 1,801 1,903 539 558 Other deposits _._ 67 65 10,927 9,555 60 163 Total deposits 144,042 152,255 1,004,370 1,077,847 136,121 144,604 Deferred availability items.. 76, 695 59,167 187,721 178,877 55,931 49,256 Capital paid in 11,592 11,877 67, 301 65,578 16,467 16,793 Surplus. _ 21, 751 21, 299 80,001 80, 575 26,965 27,065 All other liabilities 193 94 3,852 2,328 191 70 Totalliabilities. | 460,831 376,727 1, 662, 216 1,790,181 398,019 ! 391,515 Cleveland Richmond Atlanta 1929 1929 1930 Total gold reserves 254, 259 278, 471 99, 377 113, 220 139, 591 150,847 Reserves other than gold- 8,618 8,096 5,830 6,904 13,925 8,578 Total reserves.. 262, 877 286, 567 105,207 120,124 153, 516 159,425 Nonreserve cash 6,724 6,428 5,904 4,556 5,559 4,693 Bills discounted.. 76,719 37, 216 22, 766 29, 347 18,069 Bills bought 23,499 25,931 13,336 10,936 19,196 15,755 United States securities. 29,479 62,925 9,559 13,907 9,945 7,877 Other securities 1,500 1,000 600 Total bills and securities 131,197 127,072 61,834 47,609 58, 488 42,301 Due from foreign banks 74 71 33 30 28 26 Federal reserve notes of other banks... 2,443 1,397 5,719 2,266 2,129 1,685 Uncollected items 64,409 53,979 52, 566 38,140 24, 620 12,846 Bank premises.._ 6,268 6,833 3,194 3,249 2,658 2,573 All other resources 1,013 967 3,845 4,552 Total resources.. 475,005 483, 337 235,137 216,941 250,843 228,101 LIABILITIES Federal reserve notes in circulation.. 188,198 194,948 98, 670 100, 515 143,084 133, 854 Deposits: Member bank—reserve account. 173,739 186, 377 64,742 60,820 62, 895 61, 014 Government 1,982 2,240 2,150 444 2,484 1,211 Foreign bank__ 572 575 258 241 219 207 Other deposits 1,683 2,697 159 168 165 479 Total deposits 177,976 191, 889 67, 309 61, 673 65, 763 62,911 Deferred availability items.. 62,957 50,765 49,683 36,110 23,907 13,130 Capital paid in 15, 632 15, 813 6,072 5,801 5,384 5,346 Surplus 29,141 28,971 12,496 12,114 10,857 10,857 All other liabilities 1,101 951 907 728 1,848 2,003 Total liabilities.. 475, 005 483, 337 235,137 216,941 250, 843 228,101 Back figures.See Annual Report for 1929 (Table 10), 1928 and 1927 (Table 8), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

47 RESERVE BANK CREDIT No. 11.—CONDITION OF EACH FEDERAL RESERVE BANK AT THE END OF 19291 AND 1930—Continued [In thousands of dollars] Chicago St. Louis Minneapolis 1929 1930 1929 1930 1929 1930 Total gold reserves 441,048 353,871 116,882 104,329 92,466 64,411 Reserves other than gold. 12,652 21,591 8,581 9,303 2,731 4,258 Total reserves- 453,700 375,462 125,463 113,632 95,197 68,669 Nonreser ve cash 12,405 11,382 6,531 4,675 2,467 2,432 Bills discounted 112,668 22, 804 17,938 11,301 10,177 3,57& Bills bought 37, 561 52,370 9,801 10, 788 6,636 8,411 United States securities _ 68,846 89,603 29, 266 26,383 16, 873 27, 302 Other securities 1,500 1,000 30 120 233 Total bills and securities 220,575 165,777 57,035 48,472 33, 806 39, 522 Due from foreign banks 99 94 29 25 18 16 Federal reserve notes of other banks. 3,429 2,333 2,510 1,056 2,277 805 Uncollected items 80, 605 68, 622 32,600 21, 817 12, 514 10, 366 Bank premises 8,295 8,061 3,811 3,635 2,018 1,926 All other resources 559 1,126 297 3,508 542 528 Total resources 779, 667 632, 857 228, 276 196, 820 148,839 | 124,264 LIABILITIES Federal reserve notes in circulation.. 304,538 139,162 94, 744 84, 599 66, 856 53, 558 Deposits: Member bank—reserve account. 331, 302 360, 832 79, 771 69, 521 56, 861 48, 447 Government 2,930 2,590 1,197 1,089 2,129 1, 280 Foreign bank _ 768 770 224 207 140 132 Other deposits 1,484 303 534 268 139 Total deposits 336,484 365,152 81,495 71, 351 59, 398 Deferred availability items.. 76, 345 66, 524 34, 549 23, 934 11, 535 9, 776 Capital paid in 20,013 20,145 5,268 5,053 3,091 3, 063 Surplus 40, 094 39, 936 10, 877 10, 562 7,143 7,144 All other liabilities 2,193 1,938 1,343 1,321 816 725 Total liabilities. 779,667 632, 857 228, 276 196, 820 148, 839 124, 264 Kansas City Dallas San Francisco 1929 1930 1929 1930 1929 RESOURCES Total gold reserves _ 131,719 92, 371 66, 803 46,402 294,113 290, 354 Reserves other than gold- 6,172 7,200 4,346 7,126 11, 397 8, 393 Total reserves.. 137, 891 99, 571 71,149 53, 528 305, 510 Nonreserve cash 2,867 2,345 4,286 4,206 7,835 Bills discounted 29, 649 15,042 13,291 4,342 39, 513 Bills bought 8,195 12, 971 9,209 ! 8,575 34, 613 United States securities. 3,063 31,611 24,878 I 31, 316 11, 816 Total bills and securities 40, 907 59,624 47,378 44,233 i 85, 942 Due from foreign banks 24 21 24 21 52 Federal reserve notes of other banks. 1,797 1,798 880 487 I 3,557 Uncollected items 38, 840 31, 675 27,137 17,362 ! 32, 558 Bank premises _ 3,972 3,803 1,876 1,830 ! 4,261 A.11 other resources 164 241 359 551 346 Total resources 226, 462 199,078 153,089 I 122, 218 | 440, 061 438, 609 LIABILITIES Federal reserve notes in circulation.. 89,434 68,424 46,947 31,901 j 189,379 185, 839 Deposits: Member bank—reserve account. 86,408 87,705 63,697 57,533 ! 175,317 182, 583 Government 1,555 1,597 1,321 673 I 2,911 1,409 Foreign bank _ 185 173 185 173 ' 404 397 Other deposits _ 141 54 63 119 ! 8,530 7,037 Total deposits 88, 289 89,529 65, 266 187,162 191,426 Deferred availability items 34,804 27, 711 26, 871 17, 964 31, 924 30, 793 Capital paid in _ 4, 286 4,311 4,453 4,356 11,414 11, 504 Surplus __ _ ! 9,162 8,702 8,935 8,936 19, 514 18,475 All other liabilities _ 487 401 617 563 572 Total liabilities 226, 462 199, 078 153,089 122, 218 J 440, 061 j 438, 609 Back figures—See Annual Report for 1929 (Table 10), 1928 (Table 8), 1927 (Table 8), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

48 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 12.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RE- SERVE BANKS, BY MONTHS, 1914-1930 Month 1914 1915 1916 1917 1918 1919 1920 1921 January... 614 309 1,432 3,316 3,461 5,293 February. 469 451 262 1,353 3,091 3,338 5,107 March 570 535 315 1,568 3,575 3,670 5,320 April 606 606 384 2,100 3,875 4,175 5,568 May 693 655 590 2,793 4,035 4,642 5,632 June 813 678 900 3,021 4,047 4,948 5,745 July 760 642 960 3,462 3,685 4,858 5,607 August. 711 483 990 3,671 3,460 4,780 5,453 September.. 761 448 953 3,464 3,722 4,758 5,427 October 794 383 1,140 3,610 3,839 4,952 5,572 November-. 132 835 336 1,574 3,667 3,649 5,275 5,622 December.. 339 754 314 1,701 3,288 3,656 5,551 5,676 Year. 1,920 1,788 3,127 5,493 5,993 6,941 7,415 Month 1922 1923 1924 1925 1927 1928 1929 1930 January... 5,350 3,294 3,663 2,554 2,838 2,825 2,256 2,691 3,049 February- 4,847 2,976 3,465 2,415 2,659 2,566 2,104 2,597 2,730 March 4,701 3,282 3,516 2,731 3,045 2,717 2,405 2,860 2,707 April 4,738 3,507 3,744 3,016 3,155 2,707 2,522 3,185 2,753 May 4,636 3,942 3,795 3,209 3,282 2,858 2,742 3,391 2,951 June 4,436 3,999 3,706 3,289 3,458 2,834 2,957 3,414 2,849 July 4,167 4,110 3,432 3,207 3,190 2,669 2,927 3,301 2,729 August 4,042 3,960 3,052 2,979 3,016 2,511 2,797 3,012 2,466 September. 3,944 3,600 2,786 2,729 2,879 2,361 2,562 2,822 2,194 October 3,793 3,752 2,663 2,796 2,856 2,377 2,663 2,917 2,400 November- 3,859 3,732 2,573 2,876 2,871 2,350 2,639 3,246 2,476 December. 3,873 3,698 2,783 3,021 3,024 2,345 2,801 3,080 2,839 Year. 6,956 6,333 6, 060 I 5,183 5,343 4,869 4,718 5,113 4,991 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

49 RESERVE BANK CREDIT No. 13.—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 End of month cl T a ( s o a se t l a s l ) l a c m n p u C d a e l r o t p c u a m e i g r a r a r , l - i l - a D n d e d r m a s f a i t g s n h d t B a a a c n n c k c e e e p s r t- s' a T a c n r c a c e d e p s e t- b G S o y m e o b c v l U e u i e g n r . r a e t n S - d - . G b S o y m e o b c v l U e u i e g n r . r a e t n S - d ' . % w O c is u th e r e e s r d e - n. e. s. tions tions 1930 January .. 394,234 136,339 157 50 1,851 1,242 206,933 47,662 February 352,917 123,832 24 10 1,705 1,027 180,978 45,341 March 310,228 99,043 33 105 1,353 171, 544 37, 864 April - 233,452 106,714 18 1,384 313 105,666 19, 357 May 312,602 124,161 33 1,477 295 132,362 54,274 June 271,828 119,133 18 1,236 334 108,139 42,968 July. -... 199,537 114,145 58 773 444 66, 201 17,916 August 214,545 115, 838 35 792 450 66,459 30,971 September . _. 272,361 94,155 76 997 432 105,405 71,296 October- 207,101 97, 766 131 1,108 431 74, 082 33, 583 November j 274,596 106, 853 161 1,383 473 111,938 53, 788 December 251,398 98,163 87 1,412 447 88,990 62, 299 NOTE .—Figures include bills discounted for Federal intermediate credit banks as follows: January, $1,010,000; February, $250,000; March, $1,043,000; April, $1,401,000; May, $1,076,000; June, $656,000; July, $124,000; August, $296,000; September, $365,000; October, $117,000; November, $1,111,000; December, $737,000. Figures also include notes secured by adjusted-service certificates discounted for nonmember banks as follows: January, $28,000; February, $21,000; March, $37,000; April, $39,000; May, $53,000; June, $51,000; July, $31,000; August, $40,000; September, $45,000; October, $44,000; November, $41,000; December, $70,000. Back figures.—See Annual Report for 1929 (Table 12), 1928 (Table 11), 1927 (Table 11), etc. No. 14.—BILLS BOUGHT BY FEDERAL RESERVE BANKS—-HOLDINGS AT THE END or EACH MONTH, BY CLASSES [In thousands of dollars] Bills payable in dollars Bankers' acceptances Bills payable in End of month Total Ba g s o e o d d s on a T c r c a e d p e - e f i o g r n - Total Import Export Do t m ic es- b s s h e i t t i n o w p r p o e e e r e d d n c D h e o a x n l - l g a e r o A th l e l r tances c r c e u ie n r s - foreign countries 1930 January 294,307 293,272 51,325 51, 584 67,743 106, 64311,083 4,894 ^,035 February.... 270,260 269,170 51,142 48,424 58, 535 99,790 8,160 3,119 42 ,038 March 278, 536 277,277 54, 317 53,049 54,177 102,599 9,258 3,877 219 ,040 April 209, 564 208,486 46,539 40,829 47, 076 65,603 5,135 3,304 24 1,054 May 185,066 183,979 40,895 41,163 39,418 55,903 4,813 1,787 29 .058 June 127, 838 126, 771 27, 446 19, 209 30,451 46, 777 2,153 735 3 ,064 July 130,110 129, 045 29,267 23, 512 23,670 48, 077 3,998 521 ,065 August 168,061 166,990 28,459 27, 045 27,326 77,869 ,071 September.. 208, 742 207, 667 35,323 40, 679 37,920 85, 247 7,012 1,486 1,075 October 162, 947 141,364 27, 018 24, 892 32, 562 46, 759 5,692 4,441 21, 583 November.. 174, 573 142, 986 21,638 25, 917 30, 681 54,116 6,299 4,335 31,587 December.. . o63,844 327,861 38, 672 58, 071 81,121 131, 50212,341 6,154 35, 983 Back figures—See Annual Report for 1929 (Table 13), 1928 (Table 12), 1927 ((Table 12), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No, 15.—HOLDINGS OF BILLS DISCOUNTED AND BILLS BOUGHT BY FEDERAL- RESERVE BANKS, BY MATURITIES, 1929-30 [In thousands of dollars] Maturity Date 16 to 30 31 to 60 61 to 90 Over 6 days days days months Bills discounted: 1929—Jan. 30.. 820, 634 677,446 37,802 51,437 42,387 9,454 2,108 Feb. 27.. 952,482 789,566 41,273 69,807 42,589 6,381 2,866 Mar. 27. 1, 024,130 865,446 40, 319 65, 365 42,679 7,331 2,990 Apr. 24.. 974,513 803,341 45, 367 67, 741 41, 501 12, 703 3,860 May 29.. 988,194 762,915 52, 052 84,852 57, 418 29,136 1,821 June 26.. 1,016, 747 799,237 49,840 78,909 52,665 35, 533 563 July 31.. 1,075,714 844, 787 47,421 87,375 75, 010 20, 924 197 Aug. 28.. 973,627 719, 548 54, 371 114,842 77, 111 7,653 102 Sept. 25 944,399 714, 584 66, 035 103,521 54, 519 5, 267 475 Oct. 30. [ 991,038 784, 594 51, 616 94, 601 49, 726 10,170 331 Nov. 27 _ I 912,349 692, 626 65, 415 92, 360 43, 954 17,168 826 Dec. 31 632,421 508,072 36, 331 48, 742 25,932 12,706 1930—Jan. 29 406,941 304,177 26,116 41, 030 25,263 987 Feb. 26 342,781 253,437 23, 760 36,142 20, 012 6,800 2,630 Mar. 26. __ 206,829 132,180 17,966 27, 694 16,462 8,019 4,508 Apr. 30-.. 233, 452 149,986 17, 292 29, 723 18,878 14, 362 3,211 May28_. 247,046 152,044 20,736 33,329 18,431 21,312 1,194 June 25.. 231,505 135,408 19,476 30,110 22,050 24,242 219 July 30... 197,101 105,806 18,141 28, 111 30,414 14, 558 71 Aug. 27.. 193,275 107, 399 16,853 39, 215 23, 271 6,397 14Q Sept. 24.. 167,162 98,003 20, 581 30, 206 14,496 3,686 190 Oct. 29... 201, 603 128,309 19, 559 30,871 16, 234 6,020 610 Nov. 26.. 233,852 152,715 21, 725 30,117 16,958 10,995 1,342 Dec. 31.. 251, 398 175, 501 17,659 26,966 19,459 10, 634 1,179 Bills bought: 1929—Jan. 30... 435,609 133, 502 95,602 156,122 46,947 3,436 Feb. 27.. 334,075 134,661 104,774 77,558 13,419 3,663 Mar. 27.. 208,427 52,370 33,147 26,164 2,762 Apr. 24.. 141,175 66,626 28,011 34,266 9,557 2,715 May 29.. 117,919 54, 291 31,848 19, 506 10, 080 2,194 June 26.. 82,839 40, 728 18, 005 15, 654 6,527 1,925 July 31... 74, 567 47,368 10,457 9,432 6,672 638 Aug. 28.. 156,514 90, 597 20, 258 25,422 17,173 3,064 Sept. 25.... 263,934 123,010 32,213 49.948 57, 092 1,671 Oct. 30 339,885 70, 968 46, 503 133,870 86, 755 1,789 I Nov. 27... 257,315 74, 963 76,510 99,086 6,058 698 Dec. 31.... 392,209 280,459 i 45,814 47,422 18,310 204 1930—Jan. 29... 258,472 119,202 ! 48,576 67,917 22,088 689 Feb. 26... 299,306 158,895 ; 70, 628 50,007 19, 583 193 Mar. 26.. 256,482 172,731 ' 28, 467 40, 634 13,977 673 Apr. 30... 209, 564 110, 370 44,260 39,864 11,913 3,157 May 28.. 175, 560 103,869 ! 29,069 32, 573 9,177 872 June 25.. 102, 313 49,607 ! 24,092 23, 077 4,399 1,138 July 30... 130,762 60,828 I 19,938 32,488 16, 368 1,140 Aug. 27.. 163,274 53,960 | 33, 575 71,621 4,097 21 Sept. 24... 197, 743 105,051 48, 705 39,930 4,047 10 Oct. 29 165, 658 48,200 43, 774 42, 236 31,333 115 Nov. 26... 176,106 65,854 ! 44,203 53,802 12,088 159 Dec. 31.... 363,844 219,272 68,062 47, 249 28,129 1,132 Back figures—See Annual Report for 1929 (Table 14), 1928 (Table 13), 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

EESERVE BANK CEEDIT 51 No, 16.—HOLDINGS OP UNITED STATES SECURITIES BT FEDERAL RESERVE BANKS AT END OP EACH YEAR, 1926-1930, BY CLASSES [Par value. In thousands of dollars] 1926 1927 1928 1929 1930 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 12,046 12,046 » 1,796 i 1, 796 1 1,796 33^ per cent Liberty loan 49 10 51 1 10,102 \\i per cent Liberty loan 2 37,994 2 278,698 2 40,524 2 72, 253 2 103,060 3H per cent Treasury bonds of 1940-1943.. 842 12 5,009 V/% per cent Treasury bonds of 1947 2,622 2,784 187 3,202 43^ per cent Treasury bonds of 1947-1952.. 148 148 156 7,852 4 per cent Treasury bonds of 1944-1954.... 6,278 6,019 6,119 516 27, 712 Z% per cent Treasury bonds of 1946-1956.. 296 10 460 900 3,900 Total bonds 47,963 290, 705 53,884 76, 817 163, 785 Treasury notes. 87,360 69,113 105,963 215, 604 226,473 Certificates of indebtedness- 179,497 68,217 161,916 315,028 Treasury bills 56, 250 24,181 Total United States securities. 314,820 616,516 228,064 510, 587 729,467 BOUGHT OUTKIGHT In special investment account: 4^t per cent Liberty loan 30 188,181 33,950 28,048 Treasury notes 41, 297 30, 300 35,301 63, 365 159, 532 Certificates of indebtedness- 170,976 204,678 40,291 129,935 223,463 Treasury bills 50, 250 24,181 Total in special investment account _ 212,303 423,159 75,592 277, 500 435,224 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 1 2,046 1 2,046 1 1,796 1 1, 796 1 1, 796 3H per cent Liberty loan 49 10 51 1 9,252 4}£ per cent Liberty loan «36,729 2 75,403 2 39,713 2 32, 223 2 60,244 Z% per cent Treasury bonds of 1940-1943 63 12 5,009 3% per cent Treasury bonds of 1947 2,622 2,634 187 3,202 4% per cent Treasury bonds of 1947-1952 148 148 156 7,852 4 per cent Treasury bonds of 1944-1954 6,278 6,019 6,019 416 20, 712 3% per cent Treasury bonds of 1946-1956 296 10 10 3,900 Total bonds. 46,698 87,410 51,594 35, 787 113,119 Treasury notes 45,211 21, 913 60,482 136,023 48, 581 Certificates of indebtedness- 7,446 27,475 9,465 31, 981 89,140 Treasury bills 6,000 Total in other accounts.. 99,355 136,798 121,541 209,791 250,840 Total bought outright... 311,658 559,957 197,133 487, 291 686,064 BOUGHT UNDER RESALE AGREEMENT Bonds: Z\i per cent Liberty loan. 850 434 per cent Liberty loan 1,235 15,114 811 6,080 14,768 3% per cent Treasury bonds of 1940-1943... 779 3% per cent Treasury bonds of 1947 150 4 per cent Treasury bonds of 1944-1954 100 100 7,000 3% per cent Treasury bonds of 1946-1956... 450 900 Total bonds 1,235 15,114 2,290 7,080 22,618 "Treasury notes _ 852 16,900 10,180 16, 216 18,360 Certificates of indebtedness 1,075 24, 545 18,461 2,425 Total bought under resale agreement 3,162 56, 559 30,931 23, 296 43,403 1 Includes $500, 3 per cent loan of 1961. 2 Includes 4 per cent Liberty jbonds as follows: 1926, $3,700; 1927, $2,650; 1923, $1,250; 1929, $1,200; 1930, >* 1,050. Back figures.—See Annual Report for 1925 (Table 27). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

52 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 17.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (AVERAGE BASIS), 1923-1930 [In millions of dollars] Average amount held— Average amount held— Outside system invest- Outside system investment account ment account M p o e n ri t o h d or t I e n m s y in s- - Total ! M p o e n r t i h o d or t I e n m s y in s- - Total a m c v c e e o s n u t- t nt U a r m e g n s e r d a e n l e e t e r - c T 1 c e u r - a r d e r t t a i a y e f y s s l - - 1 ! i s o e A t U t c i h e u l . e s l r S r i- . ac m v c e e o s n u t- t nt U r a m e g n s e r d a e n l e e t e r - c T 1 c e u r - a r d e r t t a a i y e f y s s i - - s o U e t A t c i . h e u l e S l s r r i . - 1923 1926 Dec. 1-14.. 95 April 258 111 371 Dec. 15-181 161 May 275 117 398 Dec. 19-31. 101 June. 1-7... 285 117 407 June 8-10 *. 299 114 421 1924 June 11-14 290 114 407 January—. 35 118 ! June 15-181 250 122 101 476 February. 60 135 June 19-30 273 99 383 Mar. 1-14. 119 193 I Mar. 15-201 161 106 340 July 266 105 380 Mar.21-31. 179 August 256 95 353 Sept. 1-14.. 210 96 310 April 195 274 Sept. 15-171 200 91 93 388 May 247 324 Sept. 18-30 199 94 305 June 1-15— 332 410 June 16-171 270 43 386 October. _. 200 | 306 June 18-30. 362 429 November I 200 ! 97 302 Dec. 1-14-. 201 100 312 July 400 467 Dec. 15-161 194 j 100 424 August— 472 67 539 Dec. 17-31. 206 i 104 316 Sept. 1-14. 4S7 71 558 Sept. 15-181 504 67 631 1927 Sept. 19-30 503 75 578 January.. . 202 310 February. 200 104 307 October... 500 82 585 Mar. 1-14.. 201 | 109 313 D D N e e o c c v . . e 1 1 m 5 - - 1 b 1 4 7 e . r * . 4 4 4 9 4 2 9 8 3 88 8 8 4 8 8 8 5 f 5 i 8 6 O 8 3 O M M a a r r . . 1 2 5 4 - - 2 3 3 1 1 2 1 0 8 2 2 j ! 1 1 1 0 4 7 3 3 4 9 0 8 Dec. 18-31. 416 117 536 April 201 I 116 341 1925 May 171 ! 112 291 January—. 370 92 464 !J June 1-14. 288 ! 122 421 February _ 291 91 384 June 15-19i 222 i 52 114 391 Mar. 1-15. 272 92 380 June 20-30 250 ! 115 371 Mar. 16-221 233 72 93 399 Mar. 23-31 245 100 349 July... 259 j 116 381 J J A M u u p a n n r y e e i l 1 1 5 - - 1 1 4 7 . ! . 2 2 2 1 4 9 4 5 8 6 7 0 53 9 9 8 9 4 0 8 7 3 3 3 34 5 5 6 7 3 5 1 A S S S e e e u p p p g t t t u . . . 1 s 1 1 5 t 9 - - - 1 1 3 4 8 0 . 1 3 3 3 3 6 3 1 6 3 3 7 3 i ! | ! 1 1 1 1 1 2 1 0 3 3 8 4 4 4 4 5 3 9 9 5 9 4 2 1 June 18-30. 223 106 336 October. _. 376 I 121 506 July... 216 99 338 Nov. 1-14. 408 I 120 530 August 215 102 329 Nov. 15-301 416 122 622 Sept. 1-14. 215 103 325 Dec. 1-191. 421 121 610 Sept. 15-171 210 104 101 417 Dec. 20-31. 423 141 599 Sept. 18-30 210 98 328 N D D D O e e o e c c c c v to . . . e 1 b 1 1 m 5 8 - e 1 - - b r 1 3 4 . e . 7 1 . r _ . . 2 2 2 2 1 0 1 1 3 8 9 0 0 4 7 99 1 1 1 1 1 0 0 0 0 1 6 5 5 4 1 3 3 4 3 3 3 2 1 4 6 2 8 3 5 1 J F M M M a e n a a b a r u r 1 r . r . 9 a 1 . u 2 2 r 1 5 a y 1 8 - - - 1 r — 2 3 y 4 0 1 . . . 1 3 2 2 2 2 7 0 6 7 6 5 6 7 3 9 30 135 1 1 1 1 1 1 2 2 2 2 5 4 1 4 6 5 4 4 4 3 0 1 0 7 9 6 2 4 0 8 1926 January... 258 107 368 April 217 122 ! 351 February. 228 102 335 May 122 123 257 Mar. 1-14. 230 115 347 June 1-14.. 85 123 221 M M a a r r. . 1 1 5 9 - - 1 3 8 1. 1 1 9 3 5 3 ;i 126 1 1 0 1 7 1 3 3 7 1 4 2 J J u u n n e e 1 2 5 2 - - 2 3 1 0 8 8 3 4 55 1 1 2 1 1 4 2 2 7 1 1 8 i Periods of Treasury financing during which 1-tlay certificates were held; see Table 18. NOTE.—All series shown are on daily average basis, actual or estimated, with estimates confined to "resale agreements" and "all other" for the period prior to October, 1928; these estimates are based on actual figures of each of these two items for Wednesday dates (Table 17a) and daily figures for the two combined. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KESEEVE BANK CEEDIT 53 No. 17.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (AVERAGE BASIS), 1923-1930— Continued [In millions of dollars] Average amount held— Average amount held— Outside system invest- Outside system investment account ment account M p o e n ri t o h d or t I e n m s y in s- - Total M p o e n r t i h o d or t I e n m s y in s- - Total ac m v c e e o s n u t- t nt U a re g n s r d a e l e e e r - c T 1 e u r - r d e r t a y i a f y s i - - s o U e A t c . h u ll e S r r i . - ac m v c e e o s n u t- t nt U a re g n s r d a e l e e e r - c T 1 e u r - r d e r t y a i a f y s i - - s o U e A t c . h u ll e S r r i . ment cates ties ment cates ties 1928 1929 July 85 15 113 213 October... 29 13 112 154 August 80 11 119 210 November 107 8 200 315 Sept. 1-14. 92 11 120 223 Dec. 1-15.. 167 3 203 373 Sept.15-18* 92 13 99 120 324 Dec. 16-231 229 15 65 218 527 Sept. 19-21 92 13 121 226 Dec. 24-31 272 18 212 502 Sept.22-23i 92 10 4 121 227 Sept. 24-30 82 23 132 237 1930 Oct. 1-17. . 83 21 135 239 January.. _ 278 7 200 485 Oct. 18i — 75 23 6 135 239 February.. 278 3 199 480 Oct. 19-31. 75 29 150 254 Mar. 1-9.. 278 2 214 4S4 November 80 36 122 238 Mar. 10-201 317 2 61 208 588 Dec. 1-14 . 80 31 123 234 Mar. 21-31. 324 5 199 528 Dec. 15-201 74 15 181 121 392 Dec. 21-30. 76 32 121 229 April 327 3 200 530 May 327 1 201 529 1929 June 1-15!. 355 1 198 554 January... 76 28 125 229 June 16.— 377 18 114 163 672 February. 59 3 122 184 June 17-30. 377 4 202 583 Mar. 1-14. 41 6 121 168 Mar.l5-21i 40 1 128 124 293 July 377 5 201 583 Mar. 22-31 40 4 125 169 August 397 1 201 599 Sept. 1-14. 402 192 594 April 39 12 114 165 Sept.l5-18i 402 52 146 600 May 21 15 117 153 Sept. 19-30. 402 198 600 June 1-14.. 29 22 106 157 Jure 15-171 24 26 177 107 334 October. . 402 200 602 June 18-30 18 32 118 168 November 402 197 599 Dec. 1-14.. 402 3 210 615 July 18 21 108 147 Dec. 15-191 402 1 74 213 690 August 31 28 96 155 Dec. 20-31. 407 10 242 65$ Sept. 1-15. 36 27 93 156 Sept.l6-17i 36 38 98 90 262 Sept. 18-30. 30 35 94 159 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 17a.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAYBASIS), 1923-1930 [In millions of dollars] Amount held— Amount held— Outside system invest- Outside system invest- In sys- ment account In sys- ment account Date tem in- Total Date tem in- Total vest- vestc m o a e u c n - n t t U a r m e g n s r e d a e n l e e e t - r c T 1 c e u r - a r d e r t t a a y i e f y s s i - - s o U e t A t c i h . e u l S e s l r . r i- c m o a e u c n - n t t U a r m e g n s r e d a e n l e e e t - r c T 1 c e u r - a r d e r t t a a i y e f y s s i - - s o U e t A c t i h . u e l S r e l s i . r - 1924 Dec 5 -. 18 73 91 | Dec. 3 485 2 88 575 Dec 12 24 72 96 ! Dec. 10.... 413 52 87 552 Dec. 19 _ . 11 70 81 Dec. 17.... 436 41 40 47 564 Dec. 26 — 7 28 69 104 Dec. 24.__. 449 2 87 538 Dec. 31—. 449 4 87 540 1924 Jan.2 13 47 67 127 1925 Jan. 9 25 8 67 100 Jan. 7 408 2 86 496 Jan 16 37 8 72 117 Jan.14 388 7 92 487 Jan. 23 .. 44 6 71 121 Jan.21 335 88 423 Jan. 30 48 72 121 Jan. 28 304 90 394 Feb.6 52 I 72 125 Feb. 4 300 89 389 Feb. 13 .- 52 4 71 127 Feb. 11— 300 2 88 390 Feb. 20.— 69 1 72 142 Feb. 18.... 290 88 378 Feb. 27.... 84 72 156 Feb. 25.... 270 5 90 365 Mar. 5 108 2 72 182 Mar. 4 270 18 95 383 Mar. 12... 140 72 212 Mar. 11... 275 14 99 388 Mar. 19... 164 2 58 73 297 Mar. 18... 235 1 101 91 428 Mar. 26... 180 3 74 257 Mar. 25... 245 4 95 344 Apr. 2 187 4 74 265 Apr. 1 245 18 95 358 Apr. 9 188 7 74 269 Apr. 8 245 22 95 A A p p r r . . 2 16 3.... 1 19 91 8 1 1 7 7 5 5 2 27 67 4 A A p p r r . . 2 1 2 5 . . . . . . . . 2 2 5 5 0 0 1 8 2 9 9 6 5 • ' • Apr. 30 225 1 76 302 Apr. 29.... 250 4 95 %h May 7 236 1 74 311 May 6 250 30 96 376 May 14 247 1 75 323 1 May 13 250 35 95 380 May21__. 248 1 76 325 May 20 250 13 95 358 May28__. 258 1 74 333 May27... 250 4 95 349 June 4 ... 321 2 75 398 June 3 250 9 95 354 June 11 344 2 77 423 June 10 255 9 96 360 June 18 359 1 66 426 June 17 201 11 8 86 306 June 25 ... 363 3 64 430 June 24.... 221 7 97 325 July 2 .. 371 1 63 435 July 1 216 37 101 354 July 9 386 1 64 451 July 8 216 22 101 339 July 16 400 1 66 467 | July 15— 216 27 101 344 July 23— 400 77 477 ! July 22— 216 17 102 335 July 30— 400 105 505 July 29— 216 12 102 330 Aug. 6 456 80 536 Aug. 5 216 15 102 333 Aug. 13 473 67 540 Aug. 12... 214 12 103 329 Aug. 20.— 473 68 541 Aug. 19... 215 6 102 Aug. 27 473 69 542 Aug. 26... 215 14 103 332 Sept. 3— 473 69 542 Sept. 2— 215 104 , ,326 Sept. 10— 498 70 568 Sept. 9 - 215 g 104 •327 Sept. 17— 511 5 35 68 619 Sept. 16... 210 2 94 103 '#409 Sept. 24— 500 75 575 Sept 23 210 10 103 323 Sept. 30-.. 210 29 104 343 Oct. 1 500 76 576 Oct 8 500 81 581 Oct 7 210 10 104 324 Oct. 15 500 17 82 599 Oct. 14 210 22 104 336 Oct. 22... 500 83 583 Oct. 21 210 9 105 324 Oct. 29— 500 84 584 Oct. 28— 210 10 105 325 Nov. 5... 500 1 84 585 Nov. 4 210 15 105 330 Nov. 12. _ 500 2 86 588 Nov. 11 . 210 19 105 334 Nov. 19.. 500 1 86 587 Nov. 18... 210 18 105 333 Nov. 26.. 495 1i 86 582 Nov. 25... 210 17 105 332 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

55 RESERVE BANK CREDIT No. 17a.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930— Continued. [In millions of dollars] Outside system invest- Outside system investment account ment account In system inc m v o a e e u c s n - n t- t t U a r m e g n s r e d a e n l e e t e - r c T 1 c e u r - a r d e r t t a i a y e f y s s i - - s o U e t A t c i . h e u l e s l r r i s o U e t A t c i h . e u l S e s l r . r i 1925 Dec. 2._ Dec. O.- Dec. 16. Dec. 23. Dec. 30. 1926 Jan. 6.- Jan. 13- Jan. 20. Jan. 27. Feb. 3_. Feb. 10. Feb. 17. Feb. 24. Mar. 3. Mar. 10 Mar. 17 Mar. 24 Mar. 31 Apr. 6.. Apr. 13. Apr. 20. Apr. 27. May 4_ May 11 May 18 May 25 June 2,. June O.- June 16. June 23. June 30. July ?-. July 6.. July 14. July 13. July 21. July 20. July 28.. July 27. Aug. 4. Aug. 3_. Aug. 11. Aug. 10. Aug. 18. Aug. 17. Aug. 25- Aug. "24. Aug. 31 _ Se^8. Sept. 7. Se* ,.15. Sept. 14 Sept. 22. Sept. 21 Sept. 29. Sept. 28 Oct. 6... Oct. 5_. 505 Oct. 13.. Oct. 12. 510 Oct. 20.. Oct. 19. 500 Oct. 27- Oct. 26. 511 526 Nov. 3.. 530 Nov. 10. 705 Nov. 17. 621 Nov. 24. 548 33454—31- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

56 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 17a.—U. S. SECURITIES HELD BY F. R. BANKS IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930— Continued. [In millions of dollars] Amount held- Outside system invest- Outside system invest- i ment account ment account ! Date Total Under 1-day All Treas- other resale ury U.S. certifi- securiment cates ties 1927 Dec. 7.... 122 227 Dec. 14... 122 236 Dec. 21... 78 121 291 Dec. 28... 121 232 1928 Jan. 4.-.. 47 121 244 Jan. 11— 42 121 239 Jan. 18— 30 132 238 Jan. 25— 3 123 202 3 123 202 Feb. 1.... Feb. 8— 1 123 200 Feb. 15... 1 122 177 Feb. 21... 2 122 173 Feb. 29... 1 121 166 Mar. 7... 1 122 163 Mar. 14-. 4 121 165 Mar. 21.. 1 19 125 185 Mar. 28.. 5 125 170 Apr. 4.— 4 115 169 Apr. 11... 4 112 166 Apr. 18... 10 111 l'\ Apr. 25— 11 112 150 May 2 May 1_ 11 116 May 9 May8_ 12 116 J.49 May 16_ _ May 15 18 117 lo6 M M a a y y 2 2 9 3 _ _ _. M M a a y y 2 2 2 9 1 7 6 1 1 1 1 6 7 15« 145 June 6 11 103 147 June 13... 38 107 170 June 20... 10 106 139 June 27... 20 112 150 July 3_— 15 108 141 July 11— 10 108 136 July 18— 26 109 153 July 25... 19 109 146 21 108 147 Aug. 1--. Aug. 8— 31 96 158 Aug. 15.. 28 95 154 Aug. 22-. 22 91 149 Aug. 29.. 19 90 145 Sept. 5— 22 91 149 Sept. 12.. 32 91 159 Sept. 19 _. 47 95 178 Sept. 26.. 26 95 152 Oct. 3—. 19 96 146 Oct. 10— 13 105 141 Oct. 17— 10 105 138 Oct. 24— 8 105 136 Oct. 31... 33 212 293 Nov. 1... 10 210 293 Nov. 14-. 1 214 313 Nov. 21-. 4 201 327 Nov. 28.. 4 199 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

57 RESERVE BANK CREDIT No. 17a.—U. S. SECURITIES HELD BY F. R. BANES IN SYSTEM INVESTMENT ACCOUNT, UNDER RESALE AGREEMENT, ETC. (WEDNESDAY BASIS), 1923-1930— Continued. [In millions of dollars] A mount held— Amount held— Outside system invest- Outside system investment account ment account In sys- In sys- Date tem in- Total Date tem in- Total c m v o a e e u c s n - n t- t t U a r m e g n s e r d a e n l e e t e - r c T 1 c e u r - a r d e r t t a i y a e f y s s i - - s o U e t A t c i . h e u ll e S s r r i . - c m v o a e e u c s n - n t- t t U a r m e g n s e r d a e n l e e t e r - c T 1 c e u - r a r d e r t t a i y a e y f s s i - - s o U e t A t c i . h e u l e S s l r r i . - 1929 1930 Dec. 4 153 3 199 355 July 2 377 14 205 596 Dec. 11.... 178 1 208 387 July 9 377 13 201 591 Dec. 18— 223 24 69 217 533 July 16.— 377 200 577 Dec. 24. . 262 10 213 485 July 23— 377 199 576 Dec. 31— 278 23 210 511 July 30— 377 199 576 1930 Aug. 6 377 199 576 Jan. 8 278 8 199 485 Aug. 13_._ 402 204 606 Jan. 15 278 3 198 479 Aug. 20 402 200 602 Jan 22 278 199 477 Aug. 27__. 402 200 602 Jan. 29— 278 199 477 Sept. 3 402 200 602 Feb. 5 278 1 199 478 Sept. 10... 402 200 602 Feb. 12... 278 2 199 479 Sept. 17... 402 _ 163 610 Feb. 19.... 278 3 200 481 Sept. 24.__ 402 45 200 602 Feb. 26... 278 5 200 483 Oct. 1 402 1 198 601 Mar. 5... 278 1 207 486 Oct. 8 402 198 600 Mar. 12... 304 2 208 514 Oct. 15 402 200 602 Mar. 19.. 327 3 29 202 561 Oct. 22.... 402 200 602 Mar. 26-.. 327 3 199 529 Oct. 29 402 199 601 Apr. 2— 327 4 199 530 Nov. 5 402 200 602 Apr. 9 327 200 527 Nov. 12... 402 199 fOl Apr. 16— 327 8 200 535 Nov. 19... 402 194 596 Apr. 23... 327 200 527 Nov. 26... 402 194 596 Apr. 30— 327 2 200 530 Dec. 3 402 200 602 May 7 327 1 200 528 Dec. 10.... 402 13 202 617 May 14__- 327 1 200 528 Dec. 17 402 109 181 692 May 21__. 327 2 199 528 Dec. 24— 402 2 238 642 May28__. 327 1 202 530 Dec. 31— 435 43 251 729 June 4 342 2 200 544 June 11... 377 202 579 June 18 377 21 200 598 June 25.— 377 200 577 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

58 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD -No. 18.—HOLDINGS BY FEDERAL RESERVE BANKS OF ONE-DAY CERTIFICATES OF INDEBTEDNESS ISSUED BY THE UNITED STATES TREASURY, 1924-1930 [In thousands of dollars] Date 1924 1925 1926 1927 1928 1929 1930 Mar. 10. 2,000 Mar. 11. 1,000 Mar. 13. 5,000 Mar. 15. 184,000 209,000 251, 500 201,000 314, 000 1218,000 Mar. 16. 1 184,000 182,000 157,000 177, 500 208,000 1 181, 000 i 218,000 Mar. 17. 108, 500 122, 500 99,000 176,000 i 155,000 i 181, 000 105, 500 Mar. 18. 87,000 100, 500 38,000 79,000 1 155,000 129,000 56, 500 Mar. 19. 58,000 58, 500 1 48,000 75,000 60, 500 29,000 Mar. 20. 14,000 34,500 148,000 13,000 19,000 35, 000 Mar. 21. »2,000 16,000 9,000 Mar. 22. 1 2,000 9,000 Mar. 23. 3,000 June 8-10.. 4,000 June 15 108, 000 246,000 185,000 192, 500 239, 500 June 16 66,000 42, 500 141, 500 44, 500 i 82,000 239, 500 114,000 June 17 20,000 8,000 77,000 15, 500 i 82, 000 50, 500 June 18 23, 000 1 6, 500 5,000 June 19.... 16,500 June 20.... June 21_... Sept. 15 177, 500 196, 500 104, 500 Sept. 16 94,000 91, 500 162, 500 54,000 Sept. 17.— 41,000 i 54,000 33,000 45, 000 Sept. 18 i 54,000 3,000 Sept. 22-23. Oct. 18 6,000 Nov. 15 89, 500 Nov. 16 164, 500 Nov. 17 214, 500 Nov. 18 134, 500 Nov. 19-20. 156, 500 Nov. 21 45, 500 Nov. 22 62,000 Nov. 23-24. i 80, 500 Nov. 25 20, 500 Nov. 26-27. i 27,000 Nov. 28 38,000 Nov. 30 2,000 Dec. 1_ 4,000 Dec. 2 15,000 Dec. 3-4 i 27,000 Dec. 5 38,000 Dec. 6 47,000 Dec. 7 50,000 Dec. 8 54,000 Dec. 9 _ 58,000 Dec. 10-11.. i 57,000 Dec. 12 54,000 Dec. 13 50,000 Dec. 14 40,000 Dec. 15 148,000 172,000 188,000 197, 500 i 316,000 135,000 Dec. 16 75,000 91,000 70,000 106, 500 1 316,000 312, 500 68,000 Dec. 17 40,000 34, 500 1 57,000 132,000 99, 500 109,000 Dec. 18 i 57,000 183,000 69,000 55,000 Dec. 19 10,000 77,500 19,000 3,000 Dec. 20 63,000 9,000 Dec. 21-22-. i 4,000 Dec. 23 3,000 i 2-day certificates, account Sunday or holiday. Back figures (JOT 1928)— See Annual Report for 1929 (Table 17). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESERVE BANK CREDIT 59 VOLUME OF OPERATIONS OF FEDERAL RESERVE BANKS No. 19.—VOLUME OF OPEBATIONS IN PRINCIPAL DEPARTMENTS, 1926-1930 i Number in thousands; amounts in thousands of dollars] 1926 1927 1929 1930 NUMBER OF PIECES HANDLED Bills discounted: Applications 123 97 123 145 99 Notes discounted 506 371 443 415 Bills purchased in open market for own account _ 232 254 251 196 208 Currency received and counted 2,099,605 2,194,608 2,270, 555 2,427,330 2,441,989 Coin received and counted 2,590,057 2,691,184 2,929,091 3,239, 709 3,325,555 Checks handled 822,907 862,275 887,997 924,449 904,975, Collection items handled: United States Government coupons paid.. ___ 39,678 37,045 28, 765 20,935 19,36? All other _ _ __. 5, 595 5,909 6,461 6,504 6,388 United States securities—issues, redemptions, and exchanges by fiscal agency department 4,691 7,201 6,682 1,833 1,417 Transfers of funds _ 1,710 1,830 2,011 2,139 1,868 AMOUNTS HANDLED Bills discounted 37,682,137 31,934, 607 62,412, 961 60, 747,124 14,067,117 Bills purchased in open market for own account _ 3, 353,326 4,050, 867 4, 240,669 3, 587,478 3,873, 698 Currency received and counted 12,584,960 12, 939, 578 13, 315, 551 14, 782,429 14,262,809 Coin received and counted r475,033 ••432,131 ••451,125 r478, 219 537, 534 Checks handled 272,945,160 278,399,627 301, 703, 814367,215,123 324,883,021 Collection items handled: United States Government coupons paid.... 644, 273 553, 703 543, 373 535,612 499, 111 All other... 6,219, 361 6, 710, 317 7,414,440 7,185,384 7,528,014 United States securities—issues, redemptions, and exchanges by fiscal agency department _. 4,971,442 10, 803,043 9,002, 383 7,018,844 7. 245,189 Transfers of funds _ _. 120,909,439 136, 383,899 148,749,027 170,789,669 198,880,880 ' Revised. Back figures.—See Annual Reports for 1925 (p. 26), 1924 (p. 14), and 1923 (p. 41). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

60 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD GOLD SETTLEMENT FUND No. 20.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, 1924-1930 [In millions of dollars] Daily settlements between Federal Balance reserve banks Inter- Year and month begi a n t ning re b s a e n rv k e d W raw ith al - s Deposits a B t a e l n a d n c o e f of period Transit F re e s d e e r r v a e l transfers period clearing note clearing 1924 571.1 97,698. 3 0) 919.6 1,921.8 2,030.2 679.5 1925 679.5 108, 289. 5 0) 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 1929_-.___ _. 687.0 145,132. 4 758.7 1, 052.1 3,160.4 2,984. 5 511.2 1930 511.2 151,458. 3 669.4 1, 530. 2 2,063.8 1,970.0 417.4 1930 January __ 511.2 12, 327. 3 91.0 25.5 138.5 277.4 650.1 February 650.1 10,904. 7 59.9 62.9 173.5 169.5 646.2 March 646.2 12, 799. 7 64.4 207.5 287.6 243.4 601.9 April 601.9 12,031.5 54.5 90.0 103.8 136.8 634.8 May 634.8 12, 232. 3 55.8 42.5 153.7 145.5 626.6 June 626.6 13, 629. 3 53.3 220.2 159.6 136.1 603.1 July 603.1 14,185. 1 56.1 60.0 168.8 161.9 596.2 August 596.2 11,739.8 48.8 43.5 126.4 101.4 571.3 September. „ 571.3 12, 222. 0 53.0 299.2 119.8 97.9 549.4 October 549.4 13, 357.1 54.0 79.5 148.1 113.2 514.5 November 514.5 12, 026. 2 41.6 106.5 167.2 124.7 472.0 December 472.0 14, 003. 3 37.3 292.9 316.9 262.3 417.4 1 Included in transit clearing. Back figures.—Se& Annual Report for 1929 (Table 19), 192S (Table 20), 1927 (Table 68), etc. FEDERAL RESERVE AGENTS' GOLD FUND No. 21.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, 1924-1930 [In millions of dollars] Year and month B b o e a f g la p in n e n c ri e i o n d g at d W raw ith a - ls Deposits T to ra n b s a f n e k rs f T ro r m an s b f a e n rs k Ba p e l e n a r d n i c o o e d f at 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 1929 761 9 358.5 149.9 1,500.6 2,210. 2 1.262.9 1930 1, 282. 9 .5 1,101.7 947.8 1,109.4 1930 January . 1,262.9 141.4 105.9 1, 227. 4 February 1,227.4 i 67.0 53.3 1,213.7 March 1 213 7 .5 75 6 154.4 1, 293.1 April 1,293 1 80.2 27.3 1,240.1 May 1,240.1 90.0 55.6 1,205.7 June _ 1,205. 7 95.0 82.4 1,193.1 July 1,193.1 103.2 55.9 1,145.8 August 1 145 8 42 0 10.5 1,114.3 September 1,114.3 42.0 37.0 1,109. 3 October 1,109 3 56.8 77.4 1,129.9 November 1,129.9 96.3 76.7 1,110.3 December 1,110. 3 212.3 211.5 1,109. 4 Digitized for FBRacAk SfigEuRre s.—See Annual Reports for 1929 (Table 20), 1928 (Table 20), 1927 (Table 68), 1926 (Table 63), etc. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 61 MEMBERSHIP IN PAR COLLECTION SYSTEM No, 22.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, 1923-1930 [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] 1923 1924 1925 1926 Nonmember Nonmember Nonmember Nonmember End of month Mem- banks Mem- banks Mem- banks Mem- banks ber ber ber ber banks On par Not on banks On par|Not on banks On pariNot on banks On par Not on list par list list I par list list par list! list par list January. __ 9,911 17, 777 2, 289 >,875i 16,484 3,013 9,674j 15,361 3,679; 9,459 14,540 3,986 February.. 9,917 17, 724 2, 282 1,856! 16,3371 3,084 9,662| 15,268 3,733! 9,437 1A Ann 3,990 March 9,922 17, 692 2, 285 >,820; 16,246 3,142 ' 9,535 15,193 3,757; 9,425 14, 441 3,981 April.. 9,923 17, 663] 2, 280 (,806; 16,1191 3,185 9,540 15,079 3,824; 9,410 14, 382 3,963 May_._ 9,927 17, 643 2, 279 9,785; 15,9811 3,240| 9,550 14,970 3,869| 9,400; 14,325 3,971 June 9, 93317, 589| 2, 310 9, 763J 15,896| 3, 301 i 9,546; 14,932 3,880 9,384 14,257| 3,965 July—. 9,916 17, 565! 2, 324 9,745; 15,820! 3,353 9,544, 14,888 3,906 9,377i 14,207 3,901 August. 9,905 17, 3811 2,489 9,733; 15,736 3,419 9,540; 14,857 3,940, 9,377! 14,164 3,907 September 9,906 17, 2551 2, 580 l,718i 15,662! 3,496i 9,545 14.786 3,963 9,360! 14,130 3,924 October 9,898 17,1141 2, 672 1,708 15, 6011 3, 5501 9, 532i 14,742 3,968 9,3361 14,073 3,935 November 9,889 16, 919 2, 791 1,7001 15,524: 3,612 9,521 14,701 3,968 9,301 13,991 3,925 December 9,896 16, 725 2, 896 >,682j 15,445 3,647 9,489! 14,643 3,970 9,260 13,911 3,913 1927 1928 1929 1930 Nonmember Nonmember Nonmember j Nonmember End of month Mem- banks Mem- banks Mem- banks I ,, banks ber ber ber ; Membanks On par Not on;banks On par Not on banks On par Not— on ij bbaenrks On parNot on list Ipar list list | list ' list jpar list! list par list January 13,852! 3,865 9,014 13,155 3,918 8,807 12,567 3,913! 8,4861 11,943 3.728 February 13, 781s 3,833| 8,987 13,101 j 3,905 8,777 12,506! 3,909| 8' ,44^' 11,864 3,712 March 13, 7001 3,839J 8,971 13,035! 3,910 8,758 12,466j 3,9011 8,407 11,776 3,689 April 13, 643 3,858, 8, 949 12, 960; 3, 908 8,743 12, 411 3,903 8, 382 11,703 3,645 I ! May._ _ 13, 589; 3, 867 8,935 12,925J 3, 916 8,731 12, 346 3,829 8, 359 11,635 3,640 June 13,556 3,8631 8,929 12,888! 3, 926 8,707 12, 318 3,812| 8,315 11,559 3,629 July.- 13, 528; 3,8571 8,920 12,864! 3,934 8,677 12, 275 3, 779! 8,284 11,485 3,624 August 13,486 3,858? 8,912 12,838J 3,r 8,656 12,242 3,779 8,271 11,412 3,632 September. _. 13,430- 3,877 8,! 12,800j 3.954 , 12, 221 3,777 8,252 11,338 3,625 October 13, 358; 3,890 8, 893 12,758! 3,936j 8,602 12,175 3,769i 8,228 11,269 3,607 November. __ 13, 306! 3,913 8,882 12, 7131 3,913! 8, 569 12,104 3,761! 8,159 11,129 3,532 December 13,247; 3,910 8,837 12,643 3,911 8,522 12,045 3, 7541 8,052 10,956| 3,437 1 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. Back figures.—SeeA nnual Report for 1928 (Table 21). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

62 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANK PREMISES No. 23.—COST OF BANK PREMISES OF FEDERAL RESERVE BANKS AND BRANCHES TO DECEMBER 31, 1930 NEW BUILDINGS CONSTRUCTED BY FEDERAL RESERVE BANKS Cost of buildings Cost of land, in- Federa o l r r b e r s a e n rv ch e bank m o i c l n o d l g u l i b s d s u h i d n e i e l g d d - , - m e F r a y i c x h a e i n d n d - All other Total l b a c u T n o i d o l s d t t a i a o n n l f g d s v B a n o l e u o t e k , Date occupied net equipment Boston _.$1,246,726 $662,157 $3, 542, 603 $4, 204, 76O'$5,43l, 486 $3,457,88M9arch, 1922. New York: Main building 4,850,210 2,819, 733 11,928,960 14, 748,693:19, 598,903 13,017,860October, 1924. Annex building 592, 679 194,344 1,472,644 1,666,988] 2,259,667 1,546,425 0). Cleveland.. 1,295,490 1,431,921 6, 582,2268,014,147i 9,309,637 5, 284,738 Pittsburgh. _ 781, 364 49, 640 49,640: 831,004 831,004 August, 1923. Richmond 352, 257 410,409! 2,216,025'2,626,434! 2,978,691 1, 666,636(2). Baltimore 250,487 306, 8431, 259, 9971,566,840 1,817,327 1,582,657 October, 1921. Atlanta 283,000 175, 2791, 355,4871,530,766 1,813,766 1,157,080 September, 1928. Birmingham- 124,137 46,788 311, 336 358,124 482,261 369,464 October, 1918. Jacksonville 45,842 25,956 214, 31 240, 268 286,110 195, 562January, 1927. New Orleans _ 201, 250 159, 502 738,404) 897,906' 1,099,156 675,703 June, 1924. Chicago 2,963, 548 1,276, 5796, 217; 105| 7,493,684|l0,457,232 6,3841943October, 1923. Detroit 650, 000 113,161 1,003,438 1,116,599! 1,766,599 1,676,216July, 1922. St. Louis _. 1,355,374 1,058,979 2,178,866 3, 237, fi4,593,219 2,731,233 December, 1927. D H L M M D E S K O O a i l o a e a m k i e t n l n n n t u l P m l l a a n v s a s e A a h h a t p e s e s o o a s n a R r h o m n t p i o C o s o a c n i l k i i t C o s y . ity _ _ _ 4 6 1 1 1 1 9 0 8 3 6 0 6 7 0 8 7 5 1 6 5 5 9 0 5 0 1 6 , , , , , , , , , , , 0 5 0 0 9 1 4 3 5 0 3 0 2 0 0 2 2 2 0 1 0 1 7 1 6 3 1 7 0 2 2 3 0 5 7 3 1 4 2 2 5 2 7 0 7 7 1 5 5 1 9 1 0 5 1 7 4 0 0 , , , , , , , , , , , 4 0 1 0 8 4 3 9 4 3 7 9 1 4 9 5 7 4 4 8 5 0 6 9 3 1 4 4 8 0 7 3 7 2 3 1 , , , 4 4 4 1 3 2 2 3 2 1 1 1 6 3 9 4 0 3 8 9 1 5 5 9 6 1 9 9 4 8 7 1 7 , , , , , , , , , , , 8 1 8 0 8 8 8 8 9 5 7 7 0 9 7 1 1 5 3 9 4 4 1 1 1 6 9 1 9 8 0 4 5 4 2 1 , , , 1 9 4 3 2 4 4 3 5 1 1 6 3 3 7 9 8 6 4 0 2 7 9 6 6 6 5 4 8 7 5 2 8 , , , , , , , , , , , 0 4 7 1 3 8 6 3 7 7 2 4 2 9 9 2 3 8 5 9 8 2 1 5 8 3 4 0 7 5 9 1 4 4 3 1 , , , 6 4 4 Q3 6 5 6 2 1 5 6 6 2 1 7 0 4 4 7 5 6 7 3 1 4 4 7 6 7 9 4 1 3 6 7 , , , , , , , , , , , O 8 1 8 8 8 6 1 2 3 3 A 9 3 0 5 3 9 3 1 6 4 2 1 6 6 2 2 2 4 4 1 1 1 0 1 I 4 2 1 1 , , , 8 1 4 4 3 3 2 3 1 5 9 3 4 6 5 3 4 1 5 1 0 9 5 0 5 7 4 5 1 9 5 9 , , 5 , , , , , , . , 4 2 5 8 9 1 4 , 6 7 3 0 8 8 1 6 3 6 6 6 9 5 2 6 9 0 1 1 0 1 9 8 3 0J J A N N A M F D M F O u u e e u p o o e c n a a n b b c t g r v v r r e e o i r r e u c c e e , l u u b m , 3 h h m m s 1 e a a t 1 , , , 9 b r , r r b b 9 1 1 , 1 2 y y e e e 1 2 9 9 9 5 1 , r , 9 r 3 2 r 2 2 , . 9 , , 2 1 9 1 . 1 5 2 1 0 1 9 9 1 . . . 8 9 . 2 2 9 9 . 2 2 5 2 2 5 1 . 5 . . . . San Francisco 412, 996 700, 6613,218,654 3,919,315 4, 332, 311 2,488,505 December, 1923. Los Angeles _. 454,983 282,171 977,985 1, 260,1561, 715,139 1,667,362 April, 1930. Salt Lake City 114, 075 71,873 354, 390 426, 263 540, 338 465.132 February, 1927. Total 17,960,550 11, 794, 268 52,885,617 64, 679,885 82, 640,435 53, 348, 730 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 Street) $45,000 $125,864 $125, 864 $170,864 $96, 700 C1). Buffalo 255,000 465, 707 465, 707 720, 707 579, 300 May, 1928. Philadelphia 1, 652, 957 $339,584 2, 054,9322,394, 5164,047, 473 2, 614, 467 December, 1917. Pittsburgh _ 297, 000 138, 994 560,460 699,454 996,454 717, 233 February, 1920. Nashville 48,000 25,101 211,616 236, 717 284, 717 174, 711 December, 1922. Louisville 131,177 33, 650 227, 669 261,319 392, 496 253,416 June, 1919. Helena 5,000 16,109 156, 290 172, 399 177, 399 60, 361 February, 1921. Total 2, 434,134 553,438 3,802,538 4, 355, 976 6, 790,110 4, 496,188 Grand total. 20, 394, 684 12,347, 706 56, 688,155 69, 035, 861 89, 430,5 75,48544, 918 1 Occupied by tenants. 2 Building under construction. 3 Addition under construction. 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 since January 3, 1928, has occupied 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 63 EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS No. 24.—GROSS AND NET EARNINGS OF FEDERAL RESERVE BANKS, AND DISPO- SITION MADE OF NET EARNINGS, 1914-1930 [Figures for ejich Federal reserve bank are given in Table 85] Earnings Disposition of net earnings Year 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 t s - o i t U F e a r x . r n a S p m n . a c e i h G d n i t o s t e o i v- o P r f r c o o l a o r f r w s i r t s i a e r ( ( d — d +) ) 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.. 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 1929 i 70,955, 496 36,402, 741 9, 583, 913 22, 535, 597 4,283, 231 1930 _ ! 36,424,044 7,988,182 10,268,598 -2,297,724 17,308 Total i 941,052,065 523, 204,165 100,941, 058 275,136,225 147,126,882 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. 25.—EARNINGS OF FEDERAL RESERVE BANKS, BY SOURCES, 1914-1930 Earnings Total disc b o O i u l n l n s ted pur b c O i h l n a ls 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 ie e n s t m ou i s s F c s r e o o l u l m a r n ce 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 1929 70, 955,496 47, 790, 662 12, 063, 349 8,163, 486 449, 653 2, 488, 346 1930 36, 424,044 10,672,215 6,081,187 17,273,331 225, 748 2,171,563 Total 941,052,065 626,451,487 140,134, 759 141,313,189 7,799,039 25,353,591 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTES No. 26.—FEDERAL RESERVE NOTES—FEDERAL RESERVE AGENTS' ACCOUNTS AT THE END OF EACH MONTH [In thousands of dollars] 1929 1930 Dec. 31 Jan. 31 Feb. 28 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, 644, 332 3, 461, 202 3,374, 407 3,131, 961 3,100, 743 3, 055, 510 3, 027,530 2, 962,169 2, 941, 684 2, 933,232 2,916, 941 3,078, 983 3,555,661 Federal reserve notes held by Federal reserve agents 1, 217, 748 1,384,110 1, 347, 05; 1. 215, 5261, 273,756 1, 271, 469 1,281, 030 1,258,415 1,212,922 1,153,650 1,133,585 1, 227,234 1,462,036 1 Federal reserve notes issued to Federal reserve banks: Held by issuing Federal reserve bank.. 516, 861 366, 526 371,374 322,180 319, 719 295,114 322, 728 361, 936 354,88, 400, 708 415, 601 396,494 430, 087 Held by other Federal reserve banks.. 42,148 27,623 24,721 20, 008 20,968 20,614 19, 982 19, 471 19,812 18,266 16,418 13, 571 21, 993 Held by United States Treasury 5,154 4,548 3,217 2,749 2,604J 1,763 1,764 2,100 872 1,216 1,405 1, 1,020 In circulation * 1,862, 421 1, 678, 395 1, 628, 0381,571,498 1,483,696 1,466,550 1,402, 026 1, 320, 247 1,353,193 1, 359,392 1, 349, 932 1,440, 003 1, 640,525 Total notes issued. 2, 426, 584 2,077, 0922,027,350 1, 916,435 1, 826,987, 1,784,041 1, 746, 500 1, 703,754 1, 728, 762 1,779, 582 1,783,356 1,851, 749 2,093,625 Collateral held as security for Federal reserve notes issued to Federal reserve banks: Gold and gold certificates in vault— Gold bullion 117,968 117,968 117,968 ]17,968 117,968 117,' 117,968 117,968 165, 010 165, 010 165,010 165, 010 187,919 United States gold coin 188,065 189,450 189, 570 214,570 214,650 214,650 215,250 215, 250 215,250 215,250 215,250 245,250 255,820 Gold certificates 108,015 115,326 £8,147 69,490 69,490 69,390 69,890 69,690 69,690 70,500 71,840 177,270 Total in vault 414,048 422, 744 405,i 402, 028( 402,108 402,008 403,108 402,908 449,950 449,950 450, 760 482,100 621, 009 In gold fund, Federal Reserve Board.. 1,262,870 1,227,420 1,213, 720 1,293,056! 1,240,106 1,205, 706 1,193,106 1,145,806 1,114,306 1,109, 306 1,129,856 1,110,256 1,109,430 i Total gold and gold certificates 1,676,918 1,650,164 1, 619,405 1,695,084 1, 642,214 1,607,714 1, 596,214 1, 548,714 1, 564,256 1,559,256 1, 580,616 1, 592,356 1,730,439 Eligible paper 970,462 664, 389 594,683 576,358 430, 807 491,048 373,354 312, 743 360, 670 452, 200 415,601 400, 051 507, 788 Total collateral held 2,647,380 2,314,553 2,214,088 2,271,442 2, 073,021 2,098, 762 1,969,568 1,861,457 1,924,926 2,011,456 1, 996,217 1, 992,407 2,238,227 Collateral required as security for Federal W reserve notes 2,426,584 2,077,092 2, 027, 350 1,916,435 1, 826, 987 1, 784,041 1, 746, 500 1, 703, 754 1, 728, 762 1, 779, 582 1, 783, 356 1,851, 749 2, 093,625 O I Collateral pledged in excess of Federal reserve notes issued 220, 796 237,461 186, 738 355, 007 246, 034 314, 721 223,068 157, 703 196,164 231,874 212,861 140,658 144, 602 i This figure corresponds with that given under the same caption in Table 32. It differs from that given in Table 8, by the amount of Federal reserve notes held by (a) other Federal reserve banks and (6) the United States Treasury. Back figures.—See Annual Report for 1929 (Table 25), 1928 (Table 25), 1927 (Table 76), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOLD STOCK, GOLD MOVEMENTS, AND MONEY IN CIRCULATION 65 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOLD No. 27.—MONETARY GOLD STOCK1 OF THE UNITED STATES, 1914-1930 [In millions of dollars] End of month figures End of month 1914 1915 | 1916 1917 1918 1919 1920 1921 January- 1,923 1,822 2,325 2,922 3,160 3,162 2,930 2, 966. February.. 1,919 1,838 I2,325 2,996 3,162 3,165 2,887 3, 000» March 1,931 1,869 I 2,323 3,105 3,165 3,165 2,850 3,086- April 1,942 1,893 2,318 3,137 3,166 3,177 2,841 3,164 May 1,929 1,929 j 2,336 3,133 3,172 3,177 2,856 3,231 June 1,891 1,986 I 2,445 3,220 3,163 3,113 2,865 3, 275 July 1,859 2,007 |2,506 3,190 3,162 3,064 2,862 3,347 August 1,853 2,076 !2,549 3,165 3,161 3,125 2,851 3,439 September 1,844 2,124 j2,630 3,151 3,153 3,147 2,873 3»519> October 1,808 2,198 2,714 3,153 3,156 3,103 2,868 3,572 November. 1,807 2,260 ;2,736 3,154 3,159 3,044 2,897 3,627 December. 1,813 2,312 I2,843 3,155 3,160 2,994 2,926 3,660 End of month 1922 1923 1924 1925 1926 1927 1928 1929 1930 January... 3,685 3,953 4,289 4,423 4,412 4,564 4,373 4,127 4, 291 February.. 3,723 3,963 4,323 4, 364 4,423 4,586 4,362 4,153 4,353: March 3,750 3,970 4,364 4, 339 4,442 4,597 4,305 4,188 4,423. April 3,764 3,982 4,411 4,342 4,438 4,610 4,266 4,260 4,491 May 3,771 4,028 4,455 4,357 4,433 4,608 4,160 4,301 4,517 June 3,785 4,050 4,488 4,360 4,447 4,587 4,109 4,324 4,535 July 3,829 4,079 4,511 ' 4,367 4,471 4,580 4,113 4,341 4,517 August 3,855 4,111 4,521 ' 4,382 4,473 4,588 4,123 4,360 4,501 September. 3,873 4,136 4,511 4,382 4,466 4,571 4,125 4,372 4,511 October... 4,167 4,509 4,407 4,473 4,541 4,142 4,386 4,535 November. 3,906 4,2Q7 4,527 4,397 4,477 4,551 4,128 4,367 4,571 December. 3,929 4,244 4,499 4,399 4,492 4,379 4,141 4,284 4, 592 Averages of end of month figures Averages of daily figures Month 1914 1915 1916 1918 1919 1920 1921 January... 1,918 1,817 2,319 2,882 3,152 3,160 2,961 2,931 February.. 1,921 1,830 2,325 2,959 3,159 3,162 2,909 2,975 March 1,925 1,854 2,324 3,050 3,162 3,161 2,859 3,040 April 1,936 1,881 2,320 3,121 3,163 3,166 2,821 3,117 May 1,935 1,911 2,327 3,135 3,163 3,176 2,835 3,197 June 1,910 1,957 2,390 3,177 3,162 3,169 2,854 3,254 July 1,875 1,996 2,475 3,205 3,161 3,087 2,862 3,305 August 1,856 2,042 2,528 2 3,183 3,157 3,114 2,855 3,392 September 1,848 2,100 2,590 2 3,152 3,156 3,143 2,847 3,479 October... 1,826 2,161 2,672 2 3,151 3,151 3,120 2,855 3,547 November. 1,807 2,229 2,725 2 3,153 3,155 3,070 2,873 3,595 December. 1,810 2,286 2,789 2 3,153 3,156 3,021 2,894 3,64a Averages of daily figures Month 1922 1923 1924 1925 1926 1927 1928 1929 1930 January... 3,672 3,945 4,266 4,468 4,407 4,527 4,377 4,115 4,283 February.. 3,704 3,960 4,302 4,392 4,425 4,576 4,373 4,143 4,317 March 3,736 3,966 4,340 4,340 4,444 4,595 4,335 4,166 4,394 April 3,756 3,975 4,383 4,340 4,448 4,601 4,287 4,226 4,443 May 3,768 3,993 4,433 4,353 4,434 4,651 4,207 4,292 4,505 June 3,776 4,040 4,471 4,360 4,438 4,606 4,119 4,311 4,528 July 3,803 4,061 4,503 4,362 4,460 4,575 4,113 4,335 4,532 August 3,840 4,097 4,516 4,372 4,467 4,585 4,118 4,351 4,496 September 3,860 4,123 4,515 4,386 4,471 4,584 4,125 4,368 4,503 October... 3,884 4,155 4,506 4,391 4,472 4,566 4,133 4,381 4, 520> November. 3,896 4,182 4,517 4,407 4,477 4,490 4,151 4,374 4,553. December. 3,917 4,226 4,507 4,397 4,481 4,416 4,142 4,324 4, 58S 1 Gold coin and bullion (including foreign coin) held by United States Treasury and Federal reserve banks (including gold held under earmark abroad) and United States gold coin in circulation. Amounts held abroad under earmark (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 Averages of daily figures. r Revised. 67 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 28.—GOLD l EARMARKED BY FEDERAL RESERVE BANKS FOR FOREIGN ACCOUNT, BY MONTHS, 1916-1930 [In thousands of dollars. For other statistics of earmarked gold see Table 27, note 1] End of month 1916 1917 1918 1919 1920 1921 1922 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 1,500 November- 5,981 6,942 6,942 4,000 20, 500 1,700 December.. 6,097 6,942 6,942 5,000 22,000 3,700 End of month 1923 1924 1925 1926 1927 1928 1929 1930 January , 5,329 3,000; 46,023 19,012 19,779 193,919 144,898 r 134, 794 February 1,000 2,407 ;' 52,389 30,012 16,599 191, 051 144,898 r 134, 794 March. 1,000 4,859 '61,714 53,000 18,101 155, 251 137, 391 119,795 April 5,417 r 46, 864 53,000 19,101 109, 511 88,821 119, 295 May 4,417 ' 30,889 53, 000 114,101 136,050 72,694 117, 295 Tune 2,417 ;' 25, 814 53, 580 114,601 105,997 80, 207 115, 295 July , 1,500 5,000 !r 28, 915 49, 580 114,417 45,050 102,194 118, 295 August. 1,500 12,984 ;•" 17,340 30, 380 116, 918 39,134 103,194 118, 295 September.... 1,000 26,213 | 15,839 32, 780 125.918 40, 334 109, 795 114, 303 October 3,000 43,213 12, 969 32,776 150.919 39,134 114, 296 120, 410 November 3,000 43,713 10, 969 40, 274 190,919 64,136 113, 292 127, 536 December 3,000 45,213 12,969 39, 266 199,419 79,897 135, 295 137,695 i Gold bullion (bars) and United States gold coin. * First transaction Mar. 21, 1916. r Revised. No. 29.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY COUNTRIES, 1927-1930 Linthousands of dollars] Imports into United States Exports from United States From— To— 1927 1928 1929 1930 1927 1928 1929 1930 Belgium 1 1 Belgium _ 2,200 2,000 France 21,048 154 202 1331 France _ . 10,000308,002 65, 381 73,808 Germany 1 1 46, 773 27 Germany 13,994 28, 759 2,384 201 Great Britain _ 39, 396 37, 524 62, 390 14 Great Britain 8,562 32, 525 21,086 289 Greece 3,406 Italy 26,093 3,001 Italy 7 2 5 4 Netherlands 8,055 4,000 1 Netherlands 15,075 5 17 Poland and Danzig.. 5,000 6,000 5,010 1 Spain 3 1 75 93 Spain . Sweden 32 75 502| Sweden . 1,027 1,341 Canada 63, 650102, 371 73,880 43, 618 Switzerland 12 10, 007 Central America 1,224 1,041 1,030 1,697 Canada . _ 29, 698 22, 641 390 36, 746 Mexico 6,001 4,610 9,174 20,805i Central America 253 323 1,052 West Indies 329 631 423 2,184 Mexico 6,984 4,490 3, 605 415 Argentina 23 4, 500 72, 478 20, 272 West Indies 40 101 33 Bolivia 4 3,589 2,730 Argentina 61,499 69,400 50 Brazil 87, 776 Brazil 34, 351 25,012 Chile 7,021 624 528 438 Colombia _ 1,001 2,053 Colombia 1,489 1, 374 5,292 9,097 Uruguay 2,000 9,000 Ecuador 2,247 1,483 1.373 1,551 Venezuela.. _ . 1,530 5,970 1,600 965 Peru 2,268 1,458 1,921 6,896 British India 2,974 1,485 87 Uruguay 250 8,354' British Malaya. 3,064 706 677 Venezuela 531 481 383 4,747 China 878 1,827 103 Australia 21, 920 3 4,870 54 Dutch East Indies 1,960 2,531 1,280 50 China . . 1,674 1,077 10,326 Hong Kong 6,288 7,547 2,408 401 Dutch East Indies 1,499 1,262 1,199 1,752 Japan __ __ 21 248 124 Hong Kong... 650 Allother 62 47 15 40 J NP a he p iw a li n pZ peinalea nIdslands _ ... . 2 1 0 , , 6 0 2 6 0 5 7 9 0 1,7 7 7 7 3 3 4 3,2 7 6 15 2 15 3 6 , , 6 2 7 0 2 1 9 0 5 : ; ; Total 201, 455560, 759116, 583115,967 Portuguese Africa... 43 13 7 All other 123 5,331 90 132 Total 207, 535168, 897291, 649 396,054; I Back figures.—See Annual Reports for 1929 (Table 28), 1928 (Table 29), 1927 (Table 19), 1916 (Table 102), Digitized foanr dF R192A5S (ETRab le 102). For figures by months (by countries) see Federal Reserve Bulletin. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

69 GOLD No. 30.—GOLD IMPORTS INTO AND EXPORTS FROM THE UNITED STATES, BY MONTHS, 1921-1930 [In thousands of dollars] Net im- Net imyear 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 () () 1921 1926 January 33,634 2,725 30,909 January 19, 351 3,087 16,264 February 42. 627 1,036 41, 591 February 25,416 3,851 21, 565 March 87, 272 710 86, 562 March 43,413 4,225 39,188 April 80, 662 384 80, 278 April 13,116 17,884 -4, 768 May ,58,171 1,063 57,109 May 2,935 9,343 -6,408 June _ 43, 576 774 42,803 June 18,890 3,346 15, 544 July 64, 247 3,735 60, 513 July 19,820 5,069 14, 751 August 84. 902 672 84,230 August 11, 979 29, 743 -17, 764 September.. 66.085 2,448 63,637 September... 15, 987 23,081 -7,094 October 47,107 7,576 39, 531 October 8,857 1,156 7,701 November.. 51, 299 607 50, 691 November... 16, 738 7,727 9,011 December... 31. 666 2,162 29, 504 December... 17,004 7,196 9,808 Total.. 691, 248 23, 891 667,357 Total.. 213, 504 115,708 j 97,796 1922 1927 January.. 25, 708 January 59,355 14,890 | 44,465 February. 1, 732 27,007 February 22, 309 2,414 I 19,895 March. 963 32, 525 March 16, 382 5,625 10, 757 April... 1,579 10, 665 April 14, 503 2,592 11,911 May... 3,407 5,587 May 34,212 2,510 31, 702 June.-. 1,601 11,376 June 14,611 1,840 12, 771 July... 644 42,343 July 10, 738 1, 803 8,935 August 956 18,136 August 7,877 1,524 6,353 September. 1,399 23,066 September.. 12, 979 24,444 j -11,465 October ... 17, 592 3,275 October 2,056 10,698 i -8, 642 November 3,431 14, 877 November.. 2,082 55, 266 I-53,184 December. 2,710 23, 730 December... 10,431 77,849 -67,418 16, 875 238, 295 Total.. 207,535 201,455 | 6,080 1923 1928 January. 8,472 24, 348 January 38, 320 52,086 -13,766 February. 1,399 6,984 February 14, 686 25,806 -11,120 March 10, 392 5, 559 March 2,683 97, 536 -94,853 April 655 8,533 April 5,319 -91,150 May. 824 45, 332 May 1,968 -81, 721 June 548 18,885 June 20,001 -79,931 July 523 27,407 July 10,331 74,190 -63,859 August. 2.201 30, 655 August , 2,445 1,698 747 September 863 26, 941 September... 4,273 3,810 463 October... 1,307 28, 488 October 14,331 992 13, 339 November 747 39, 010 November. _ 29, 591 22, 916 6,676 December. 712 31, 930 December... 24,950 1,636 23, 314 28,643 294,073 Total.. 168,897 560,759 I -391,862 1929 45,136 281 44,855 January 48,577 1,378 47,199 35, 111 505 34, 606 February 26,913 1,425 25,488 34, 322 817 33, 505 March 26,470 1,635 24,835 45,418 1,391 44, 027 April 24, 687 1,594 23,093 41, 074 593 40,481 May 24,098 467 23, 630 25,181 268 24, 913 June 30,762 I 550 30,212 18, 834 327 18, 507 July 35,525 807 34, 718 18,150 2,398 15, 752 August 19, 271 881 18,390 6, 656 4,580 2,076 September... 18, 781 1,205 17,576 19, 702 4,125 15, 577 October 21,321 3,805 17,516 19,862 6,689 13,173 November... 7,123 30,289 -23,166 10, 274 39, 675 -29,401 December 8,121 72,547 -64,426 61, 648 258, 073 Total.. 291,649 116, 583 175,066 1930 January. _ 5,038 ! 73,526 January 12,908 3,960 February. 3,603 I 50, 600 -46, 997 February 60,198 207 59, 991 March 7,337 j 25,105 -17, 768 March _. 55, 768 290 55,478 April. 8,870 ! 21, 604 -12.734 April 65, 835 110 65, 725 May. 11,393 i 13, 390 -1,997 May 23, 552 82 23, 470 June 4,426! 6,713 -2, 287 June 13, 6b3 26 13, 912 July... 10,204 4,417 5,787 July 21, 889 41, 529 -19, 640 August 4.862 2,136 2,726 August 19, 714 39, 332 -19,618 September 4,128 ; 6,784 -2, 656 September... 13, 680 11,133 2,547 October... 50,741 28, 039 22, 702 October 35, 635 9,266 26,369 November 10.456 i 24, 360 -13, 904 November - _. 40,159 5,008 35,151 December. 7,216 i 5,968 1,248 December... 32, 778 32, 742 Total 128,273 262,640 -134,367 Total.. 396. 054 115,967 280,087 Digitized for FBRacAkS fiEguRr es—See Annual Report for 1927 (Table 20). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

70 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MONEY IN CIRCULATION No. 31.—UNITED STATES MONEY IN CIKCULATION,1 BY MONTHS, 1914-1930 [In millions of dollars] End of month figures End of month 1914 1915 1916 1917 1918 1919 1920 1921 January... 3,502 3,253 3,592 3,989 4,136 4,919 5,177 5,303 February.. 3,503 3,242 3,603 4,120 4,315 4,922 5,360 5,273 March 3,508 3,264 3,613 4,173 4,396 4,948 5,391 5,124 April 3,530 3,284 3,621 4,194 4,434 4,943 5,409 5,080 May 3,533 3,317 3,585 4,256 4,416 4,918 5,452 5,015 June 3,459 3,320 3,649 2 4, 066 4,482 4,877 5,468 4,911 July 3,394 3,323 3,658 3,973 4,564 4,870 5,454 4,797 August 3,541 3,402 3,737 3,980 4,776 4,948 5,548 4,740 September 3,732 3,455 3,822 4,051 5, 027 5,037 5,616 4,744 October... 3,744 3,519 3,876 4,107 5,145 5,127 5,698 4,695 November. 3,410 3,544 3,877 4,252 5,195 5,269 5,643 4,651 December. 3,319 3,589 3,966 4,373 5,238 5,378 5,612 4,690 End of month 1922 1923 1924 1925 1926 1927 1928 1929 1930 January... 4,441 4,614 4,777 4,802 4,841 4,846 4,677 4,657 ' 4, 560 February.. 4,491 4,703 4,887 ' 4, 848 4,904 4,885 4,690 4,698 r 4, 577 March 4,497 4,747 4,899 r 4,811 4,860 4,862 4,749 4,748 4,549 April 4,468 4,759 4,853 ' 4, 782 4,907 4,891 4,748 4,676 4,476 May _. 4,455 4,797 4,905 ' 4, 837 4,923 4,893 4,744 4,738 4,551 June 4,463 4,823 4,849 r 4,811 4,885 4,851 4,797 4,746 4,522 July 4,424 4,787 4,756 ' 4, 792 4,909 4,846 4,701 4,717 4,426 August 4,480 4,876 4,859 ' 4,866 4,930 4,854 4,803 4,840 4,533 September. 4,608 4,945 4,863 4,916 4,978 4,948 4,846 4,819 4, 5,01 October-.. 4,646 4,929 4,942 4,969 5,021 4,946 4,806 4,838 4,493 November. 4,704 5,018 5,052 5,044 5,037 4,952 4,990 4,929 4,660 December. 4,817 5,044 5,047 5,104 5,095 5,003 4,973 4,865 4,890 Averages of end of month figures Averages of daily figures Month 1914 1915 1916 1917 1918 1919 1920 1921 January.-. 3,497 3,286 3,591 3,978 4,306 5,050 5,231 5,401 February-. 3,502 3,247 3,598 4,055 4,280 4,932 5,285 5,263 March 3,506 3,253 3,608 4,147 4,373 4,942 5,398 5,204 April 3,519 3,274 3,617 4,184 4,423 4,970 5,372 5,078 May 3,531 3,300 3,603 4,225 4,401 4,941 5,414 5,042 June 3,496 3,318 3,617 2 4,161 4,448 4,891 5,448 4,936 July 3,426 3,321 3,653 4,020 4,520 4,896 5,478 4,857 August 3,467 3,363 3,697 3 4,001 4,666 4,913 5,509 4,771 September. 3,637 3,429 3,779 3 4,061 4,911 4,989 5,600 4,752 October..- 3,738 3,487 3,849 3 4,152 5,134 5,106 5,673 4,721 November. 3,577 3,532 3,877 » 4,203 5,183 5,208 5,662 4,673 December. 3,365 3,567 3,922 » 4,342 5,243 5,342 5,658 4,718 Averages of daily figures Month 1922 1923 1924 1925 1926 1927 1928 1929 1930 January-.. 4,527 4,679 4,847 4,863 4,891 4,903 4,785 4,748 4,652 February.. 4,451 4,672 4,832 ' 4,805 4,854 4,843 4,709 4,686 r 4, 554 March 4,483 4,713 4,870 «• 4,814 4,864 4,856 4,710 4,709 r 4, 532 April 4,482 4,731 4,886 ' 4,803 4,882 4,879 4,730 4,679 4,518 May 4,450 4,764 4,866 r 4, 791 4,871 4,860 4,722 4,684 4,497 June 4,429 4,779 4,830 r 4, 790 4,881 4,831 4,736 4,687 4,489 July.. 4,443 4,812 4,810 r 4, 794 4,916 4,851 4,746 4,764 4,483 August 4,448 4,833 4,800 r 4, 817 4,912 4,849 4,743 4,777 4,476 September. 4,552 4,901 4,853 4,908 4,969 4,917 4,804 4,811 4,493 October 4,643 4,941 4,891 4,945 5,001 4,934 4,836 4,810 4,501 November. 4,671 4,953 4,970 4,960 5,005 4,936 4,860 4,845 4,528 December. 4,827 5,071 5,088 5,119 5,131 5,048 5,008 4,943 4,823 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 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 Averages of daily figures. r Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 32.—KINDS OF MONEY IN CIRCULATION, 1928-1930 [In thousands of dollars] 00 C r C 4 n O End of month Total G co o i l n d G ti o fi l c d a t c e e s r- S d t s a o i n l l v l d a e a r r s rd c S c e i a r l t t v i e f e s i r - T n r o e 1 t a 8 e 9 s s 0 u o ry f S s u i a b l r v s y e id r i- JV co ^i i n n or U S n n t o a i t t t e e e s s d F re n e s o d e t e r e r v s a e l F re n b e s o d a e t n e r e r v k s a e l Na n b t o a i t o n e n k s al- 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 p 4, 796, 626 ' 377,028 1, 019,149 r 46, 222 384, 577 1,304 r 278,175 ••111,061 298,438 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.. 4,973,168 395,310 990,996 46,475 410,334 1,294 291,314 115, 613 294,199 1,808,053 3,820 615,761 1929—January 4, 656,617 380,952 923,193 44,456 381, 672 1,292 280, 751 114,007 282,172 1.631,432 3,775 612.915 February. _. 4,698,362 377,512 935,448 44,075 385,389 1,291 280, 736 113.692 283.603 1,646,523 3,747 626,344 March 4, 747,683 374, 255 937, 247 43,921 390, 583 1,290 280, 655 113, 536 283.100 1,673.480 3,709 645,908 April 4,675,647 371,623 905,513 43,727 386. 241 1.288 281,229 114,085 276.227 1,648,392 3,680 643. 639 May 4,737,636 369,997 944,058 43, 651 392,411 1,286 282,936 114,454 288,216 1, 654,757 3,650 642,221 June. 4, 746, 297 368,488 934, 994 43,684 387,073 1,283 284, 226 115, 210 262,188 1, 692, 721 3.616 652,812 July 4, 716,863 366,199 887,897 43,401 403,964 1,282 284,363 115, 534 242,338 1, 748,442 3,587 619 855 August 4,839,859 364, 603 887,102 43,055 411, 293 1,280 286, 270 115,985 248,670 1,842,547 3,539 635, 515 September.. 4,819,275 363,701 849,551 42,960 417, 556 1,277 289, 344 116,816 264, 930 1,839,143 3,500 630, 497 October 4,838,185 363,051 845,908 42, 573 414,952 1,276 291, 200 117,556 266, 504 1, 869,173 3,466 622, 527 November- 4,929,421 363,935 888, 650 42, 244 418,085 1,275 292.241 118,167 275,136 1,919,901 3,432 606,356 December.. 4,864,824 383,763 879, 558 42,184 416,880 1,273 293,951 119,402 264,881 1,862,420 3,413 597,101 1930—January -• 4. 560,028•369,457 799,077 39,967 380,692 1,270 281,343 116,920 257,189 1, 678,421 3,356 632,336 February... r 4, 576,508 ' 364, 789 841,235 39, 451 384,339 1,268 280,395 116,773 268,964 1,628,064 3,322 647,908 March 4,549,189 362,272 873, 366 39,172 385, 583 1,265 280,364 116,544 268,526 1,571,519 3,275 647,301 April 4,476,067 360,016 885,820 38, 798 382,423 1,263 281,181 117,108 277, 111 1,483, 711 3,248 645, 389 May 4,551,468 358, 575 954,465 38,610 391, 773 1,261 281,168 117,193 290,260 1,466,561 3,221 648, 382 June 4, 521,988 357,236 994,841 38,629 386,915 1,260 281,231 117,436 288,389 1, 402,066 3,206 650,779 July. 4,426,494 356,079 1,001,923 38,108 381, 285 1,259 279,736 117, 236 287,858 1,320, 263 3,155 639,593 August 4,533,197 353,358 1,050,595 38, 234 390, 203 1,254 280,162 117,187 297, 603 1, 353, 200 3,126 648,274 September.. 4,501,478 351, 765 1,026,036 37,512 391, 311 1,252 280,868 117, 729 297,307 1,359, 358 3,104 635,237 October 4,492,604 350, 226 1, 019,584 37,312 391,366 1, 250 281,135 117, 859 300,032 1,349, 940 3,082 640,818 November.. 4, 660,315 350,931 1,075, 770 37, 087 400,104 1,248 281, 221 118, 227 304,407 1, 440,003 3,064 648, 252 December.. 4,890,123 368,379 1,117, 630 36, 777 403,906 1,248 281,133 118, 740 295,515 1, 640, 537 3,041 623,218 Back figures.—See Annual Report for 1927 (Table 22). r Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT RATES AND MONEY RATES 73 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT RATES AND MONEY RATES IVo. 33.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES AND MATURITIES OF DISCOUNTED BILLS—CHANGES PROM JANUARY 1, 1922, TO DECEMBER 31, 1930 [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 i i l l a - 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 . 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 i r s a a c n n o - In effect Jan. 1,1922 * 5 5 5 5 5 5 5 1922—Jan. 9 . .. 5 Jan.11 5 Jan. 23— 434 Feb. 14.... Mar. 15.. Mar. 25 4 V Apr. 6 4i4 Apr. 14 41/ June 22 4 June 23.. . .. 4 July 8 4 July 12 Aug. 12 Aug. 15 41/ 1923-Feb. 23 4H Mar. 6 4H 1924—May 1 4 June 2 4 June 10 _. 4 June 12 3H 3H June 14 4 4 June 18 . 4 June 19 2 3H 4 June 26.. July 1 4 July 16 4 Aug. 8 3 Aug. 15.. . Aug. 25 3H Oct. 15 4 1825—Feb. 27 3H Nov. 10 4 Nov. 17 4 Nov. 20 4 Nov. 23.. . 4 1926—Jan. 8 4 Apr. 23.. _ Aug. 13 4 1927—July 29 Aug. 4 ,_ 3K Aug. 5 3M 3H Aug. 6. Aug. 12 Aug. 13. . Aug. 16 3H j Sept. 7. 3V£ Sept. 8 3H 1 Sept. 10 m Sept. 13... _ 1 5 per cent on 6-9 month agricultural and livestock paper from Apr. 7,1923, to June 11,1924, inclusive. J 5 per cent on 6-9 month agricultural and livestock paper from Apr. 19,1923, to June 25,1924, inclusive; 4M 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.—YOT years previous to 1922, when din erent rates were generally in effect for different classes of bills, see Annual Reports, Federal Reserve Bulletin, and pamphlet issued by the board in 1922: 44 Discount Rates of the Federal Reserve Banks, 1914-1921." 75 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

76 ANNUAL KEPOKT OF THE FEDERAL RESERVE BOARD No. 33.—FEDERAL RESERVE BANK DISCOUNT RATES ON ALL CLASSES ANI> MATURITIES OF DISCOUNTED BILLS—CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1930—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 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 . is a M p n o i e n l - i - s K C sa a it s n y - D la a s ] 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 1 Feb. 21 4 Mar. 1 _ 4 Apr. 20 4M Apr. 23 4V£ Apr. 24 Apr. 25 i j 4V£ May 7 L_ 4y^ May 17 ._. i 4y^ May 18 '< May 25 ._. 4U May 26 j June 2 _ j 4H June 7 1 4i^> July 11 _ 1 5 | July 13 ! 5 5 July 14 5 July 19 5 5 July 26 5 i__ .. Aug. 1 5 j 1929—Mar. 2 5 May 6 5 May 14 5 May 20 5 Aug. 9 6 .:::: Nov. 1_ 5 Nov. 15 Nov. 21 4>2 Nov. 23.._ Dec. 6 4M Dec. 10 4V4 Dec. 20 41^ 1930—Jan. 16 i Feb. 7 i 4 4H Feb. 8 4V9 4 4:14 Feb. 11 4H Feb. 13 4 Feb. 15 4 Mar. 14 Mar. 15 4 Mar. 20 4 Mar. 21 1 | 4 Apr. 8 4 Apr. 11 4 i Apr. 12 4 4 Apr. 15 i ....... May 2 3 May 8__ 33/o i June 7 _ "'¥/ JJuunnee 2210 1 01/ July 3 ._ .. . 3 Ql/I July 12 3% J A u u ly g . 1 7 8 i zy2 31/' Aug. 8 01/ Aug. 15 i Sept. 9 | i 01/ Sept. 12 1 I Dec. 24 2 .1 1 Dec. 29__ 3 In effect Dec. 31, 1930.. 3 2 3 3H 3H 3K 3K 3^ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

77 DISCOUNT RATES AND MONEY BATES No. 34.—FEDERAL RESERVE BANK BUYING RATES ON ACCEPTANCES !— CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1930 [Buying rates at the Federal Reserve Bank of New York. Per centl Date effective I d t a o y l5 s 16 d a t y o s 30 31 d a t y o s 45 46 d a to y s 60 61 d a t y o s 90 91 d a to y s 12C'21 d a to y s 180 In effect Jan. 1, 1922. 1922-Feb. 6... Feb. 16.. Mar. 6... Mar. 13. Mar. 21.. 4 Mar. 27.. Apr. 10.. "VA Apr. 14.. May 5... May 18.. VA ft June 2... June 19.. "VA June 26.. July 5... July 15.. July 25.. Sept. 21.. Sept. 25. Sept. 27.. VA Oct. 2.__ "VA Oct. 6._- Oct. 13.. Oct. 18-. "m Oct. 19.. Oct. 24. _ Oct. 27.. 1923—Apr. 17.. May 23.. July 7... 924—Apr. 24.. May 1... May 16- A May 22.. VA June 2... June 17.. June 26.. Aug. 8.__ 2lA Nov. 17.. 2H "2% Nov. 28.. Dec. 3... 2% Dec. 5._. 2H I" 2% 2% Dec. 8... 2% Dec. 22._ "2% 2% 1925—Feb. 6... 3 3 Feb. 27.. 3H June 12.. Aug. 31_. Sept. 22.. 1926—Jan. 8.... A Apr. 27.. VA May 20.. May 21_. Aug. 16.. Aug. 23.. 35! Sept. 1... 1927—July 29.. Aug. 5... Aug. 22.. 1928—Jan. 27.. Feb. 3... Mar. 30.. ¥ Apr. 13.. May 18.. 4 4M July 13.. 4M July 26- 1 Rates on prime bankers' acceptances. Higher rates may be charged for other classes of bills. Back figures.—See Annual Report for 1928 (Table 35). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

78 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 34.—FEDERAL RESERVE BANK BUYING RATES ON ACCEPTANCES— CHANGES FROM JANUARY 1, 1922, TO DECEMBER 31, 1930—Continued [Buying rates at the Federal Reserve Bank of New York. Per cent] Date effective I d t a o y l s 5 16 d a t y o s 30 31 d a t y o s 45 46 d a t y o s 60 61 d a t y o s 90 91 d a to y s 120 12 d 1 a t y o s 180 1929—Jan. 4_... J* Jan. 21._. Feb. 15.. 5 r 5 Mar. 21.. Mar. 25.. July 12.. Aug. 9... 5; Oct. 25.. 5 5 Nov. 1... 4^ Nov. 15 Nov. 22.. 4 1930—Jan. 31... Feb. 11.. Feb. 24.. 3^ 3% Mar. 5— Mar. 6— Mar. 11.. fi Mar. 14.. Mar. 17.. Mar. 19.. 3H Mar. 20.. May 1— May 2__. f May 8... May 19.. June 3__. June5... 2M 2V4. June 16_. P., June 20_. 2H June 30_. July 21.. VA Dec. 24.. In effect Dec. 31,1930- Rate for 76 to 90 days 2 per cent. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT RATES AND MONEY RATES 79 No. 35.—AVERAGE RATES EARNED BY FEDERAL RESERVE BANKS ON BILLS AND SECURITIES, 1917-1930 [Per cent] Month 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 Total bills and securities: January 2.90 3.75 4.04 4.46 5.88 4.62 4.03 4.39 3.27 3.73 3.80 3.36 4.73 4.22 February. _ 3.03 3.81 4.03 4.88 5.92 4.47 4.13 4.36 3.32 3.80 8.76 3.52 4.76 4.05 March.. . 3.14 3.86 4.02 5.12 5.90 4.34 4.26 4.30 3.41 3.80 3.75 3.63 4.80 3.78 April 2.83 4.07 4.01 5.23 5.85 4.25 4.32 4.34 3.49 3.81 3.75 3.74 4.88 3.64 May 2.93 4.29 3.99 5.36 5.79 4.08 4.35 4.26 3.50 3.72 3.78 3.96 4.89 3.40 June . . 3.08 4.20 4.01 5.51 5.67 3.98 4.36 4.03 3.50 3.66 3.72 4.24 4,89 3.23 July 3.34 4.31 3.98 5.72 5.60 3.90 4.42 3.80 3.52 3.65 3.73 4.39 4.94 3.00 August 3.37 4.27 3.93 5.81 5.42 3.85 4.42 3.67 3.55 3.67 3.58 4.63 5.02 2.86 September. 3.41 4.21 3.91 5.81 5.35 3.84 4.41 3.45 3.56 3.77 3.45 4.67 5.10 2.72 October 3.37 4.13 3.95 5.94 5.25 3.88 4.44 3.30 3.59 3.83 3.39 4.69 5.06 2.69 November. 3.37 4.19 4.16 5.98 4.99 4.00 4.40 3.21 3.61 3.84 3.33 4.68 4.84 2.64 December.. 3.53 4.14 4.29 5.98 4.74 4.06 4.38 3.17 3.68 3.83 3.34 4.70 4.48 2.61 Year 3.29 4.12 4.04 5.50 5.61 4.11 4.33 3.83 3.51 3.76 3.60 4.24 4.86 3.2& Bills discounted: January 4.01 3.94 4.21 4.71 6.30 4.99 4.26 4.50 3.55 3.91 4.00 3.50 4.99 4.80 February.. 4.02 4.02 4.18 5.20 6.37 4.90 4.24 4.50 3.42 3.99 4.00 3.77 4.92 4.59 March 4.14 3.94 4.16 5.47 6.36 4.83 4.45 4.50 3.60 4.00 4.00 3.95 4.92 4.32 April _ 3.92 4.14 4.16 5.58 6.32 4.75 4.49 4.50 3.66 3.98 4.00 4.01 4.98 4.11 May 3.82 4.38 4.15 5.66 6.29 4.68 4.50 4.45 3.69 3.87 4.00 4.20 4.95 3.81 June 3.49 4.31 4.20 5.89 6.20 4.61 4.50 4.35 3.69 3.88 4.00 4.45 4.98 3.75 July 3.82 4.40 4.15 6.13 6.09 4.50 4.50 4.11 3.68 3.85 4.00 4.60 5.00 3.65 August 3.77 4.35 4.13 6.19 5.91 4.47 4.50 3.99 3.68 3.91 3.83 4.87 5.16 3.46 September. 3.79 4.27 4.17 6.22 5.85 4.42 4.50 3.85 3.66 3.99 3.62 4.90 5.27 3.42 October 3.47 4.22 4.15 6.35 5.69 4.36 4.50 3.75 3.66 4.00 3.52 4.92 5.20 3.38 November. 3.42 4.27 4.40 6.41 5.39 4.29 4.50 3.69 3.71 4.00 3.51 4.92 5.04 3.28 December.- 3.65 4.29 4.55 6.42 5.11 4.29 4.50 3.59 3.84 4.00 3.51 4.93 4.86 3.23 Year 3.61 4.24 4.23 5.88 6.07 4.63 4.46 4.25 3.67 3.95 3.83 4.56 5.03 3.93 Bills bought: January 2.80 3.64 4.29 4.79 6.14 4.44 4.01 4.20 2.70 3.46 3.73 3.21 4.62 4.19 February.. 3.02 3.79 4.25 5.06 5.99 4.25 4.09 4.18 2.88 3.55 3.70 3.28 4.80 4.03 March 3.19 3.92 4.26 5.47 6.01 4.06 4.10 4.17 3.06 3.61 3.68 3.38 4.98 3.72 April 3.10 4.18 4.23 5.70 5.97 3.83 4.08 4.17 3.13 3.63 3.67 3.52 5.30 3.25 May 3.15 4.36 4.25 5.77 5.98 3.50 4.11 4.05 3.16 3.52 3.65 2 72 5.50 2.96 June 3.16 4.25 4.19 5.98 5.97 3.29 4.14 3.66 3.17 3.37 3 66 1 a £4 5.48 2.59 July .... 3.23 4.24 4.27 6.07 5.96 3.18 4.18 2.80 3.19 3.33 3.67 4.01 5.44 2.10 August 3.19 4.38 4.22 6.07 5.36 3.11 4.19 2.49 3.24 3.32 3.51 4.34 5.13 1.93 September. 3.35 4.19 4.27 6.06 5.33 3.11 4.19 2.22 3.32 3.50 3.31 4.50 5.11 1.92 October 3.40 4.25 4.22 6.07 5.04 3.24 4.19 2.20 3.37 3.67 3.19 4.56 5.21 1.94 November _3.53 4.36 4.33 6.03 4.91 3.59 4.18 2.23 3.40 3.75 3.19 4.56 5.22 1.91 December.. 3.43 4.33 4.54 6.05 4.50 3.84 4.20 2.46 3.43 3.76 3.20 4.56 4.(10 1.87 Year 3.26 4.14 4.30 5.66 5.70 3.54 4.14 3.31 3.17 3.55 3.49 3.97 5.00 2.85 United States securities: January 2.64 3.27 2.26 2.18 2.13 3.16 3.74 4.26 3.51 3.69 3.55 3.35 4.01 3.62 February. _ 2.67 3.25 2.31 2.17 2.11 3.58 3.96 4.17 3.59 3.71 3.53 3.44 3.91 3.64 March 2.66 3.59 2.41 2.10 2.24 3.72 3.99 4.04 3.50 3.60 3.49 3.44 3.99 3.52 April 2.36 3.56 2.43 2.10 2.15 3.77 4.11 4.14 3.58 3.65 3.48 3.46 3.91 3.43 May 2.41 3.06 2.42 2.22 2.49 3.70 4.17 4.05 3.57 3.61 3.54 3.53 3.93 3.34 June 2 39 3 00 2.33 2.24 2.40 3.67 4.02 3.79 3.53 3.56 3.46 3.68 4.06 3.15 July ... 2.67 2.76 2.24 2.15 2.31 3. 63 4.17 3.68 3.54 3.55 3.43 3.67 4.05 2.97 August 2.71 2.87 2.21 2.22 2.33 3.60 4.15 3.57 3.54 3.52 3.37 3.69 4.00 2.88 September . 2.75 2.73 2.17 2.27 2.49 3.65 4.07 3.46 3.55 3.53 3.37 3.83 4.09 2.75 October 3.06 2.44 2.18 2.20 2.38 3.71 4.21 3.44 3.62 3.62 3.38 3.94 3.99 2.69 November - 2.86 2.49 2.22 2.17 2.68 3.78 4.18 3.46 3.62 3.61 3.27 4.05 3.93 2.63 December.. 2.98 2.40 2.19 2.43 2.92 3.79 4.03 3.39 3.63 3.55 3.28 4.05 3.69 2.57 Year 2.68 2.99 2.26 2.21 2.37 3.67 4.01 3.67 3.56 3.60 3.41 3.64 3.93 3.06 Back figures.—See Annual Report for 1929 (Table 34). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

80 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 36.—OPEN MARKET RATES IN NEW YORK CITY, BY MONTHS, 1926-1930 [Per cent] Prevailing rate on- Average rate on i— Call loans 3 Prime Month bankers' j Time accept- | loans, ances, 90 j 90 days days i 1926—January 3.67 3,49 4.01 February. 3.63 3.18 4.01 March. 3.63 3.14 3.98 April 3.42 .08 3.94 May. 3.20 3.17 3. June- 3.32 2.93 3.90 July. 3.11 August 3.57 3.27 3.95 September. 3.88 3.42 3.96 October 3.88 3.58 3.95 November 3.79 3.35 3.91 December 3.83 3.07 3.84 1927—January 4.27 February. 4.06 March. 4.13 April 4,21 May 4.27 June- 4.26 i July 3.95 August 3.66 ! September. 3.84 October. 3.88 November. 3. 60 | December 4.43 1928—January 3.31 February. 3.33 March 3.27 April 6 3. 62 May. «3.90 June 6 3.92 July 4.12 August 4.36 September. 4.57 October 4.70 November. 4. December 4.26 1929—January 4 February 4.39 March 4.60 April 4.80 May. 8.91 5.09 June. 7.70 4.80 July. 9.23 4.55 August 8.23 4.70 September. 8.50 4.58 October 6.43 4.37 November. 5.44 3.47 December 4.83 3.03 1930—January 4.31 4.64 .39 February. 4.28 4.32 3.36 March. 3.56 3.69 2.95 April 3.79 4.00 3.00 May___ .05 3.12 2.41 June 2.60 2.62 1.89 July.__ 2.18 2.20 I 1.83 August 2.22 2.21 | 1.53 September 2.17 2.19 ! 1.77 October-.. 2.00 2.00 1.74 November. 2.00 2.00 1.40 December 2.27 2.23 1. 1 These rates are monthly averages of daily quotations for the month. * Stock exchange 90-day time loans. 1 Stock exchange call loans; new and renewal rates. 4 Second, third, and fourth 4% per cent Liberty bonds. • Three issues. Since April, 1928—3%, ZH, and 4 per cent: yield calculated on basis of last redemption dates—1947, 1956 and 1954. Prior to April, 1928—3%, 4 and 4J4 per cent maturing 1956, 1954, and 1952. 6 Based, at least in part, on certificates of 6-9 months maturity. Digitized for FBRacAk SfiEguRre s.—See Annual Reports for 1928 (Table 39), and 1927 (Table 28). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

81 DISCOUNT RATES AND MONEY RATES No. 37.—OPEN-MARKET RATES IN NEW YORK CITY, BY WEEKS [Per cent] Prevailing rate on- Average rate on— Avera o g n e — yield U. S. Week ending (Saturday)— c m o p P 4 m a o c r t p i n i o m a m e t 6 l h r e e , s r- b 9 a P a a 0 c n n r c c i d k e m e a e p s y e r t , - s s ' d l T o a i 9 a y m n 0 s s e l , N C ew all loa n n e R s w e 2 - al b 9 a P a a c 0 n n r c d i c k e m e a e p s y r e t , s - s ' t a T i 3 n n f u i r o d c e t r t o a a y c e t e s s e r - s - T b u o re r n a y d s s - s months 1930 Jan. 4___ 5 494-5 5.86 ! 6.00 3.95 2.97 3.49 J J a a n n . . 1 18 1 . . . . . 494-5 5 426-4 4 9 9 4 ., 4 4 . . 2 2 5 4 I j 4 4 . . 6 5 0 0 4 3 . .8 0 8 0 3 3 . . 1 4 8 0 3 3 . . 4 5 8 1 Jan. 25_. 494; 4.06 ! 4.50 4.00 3.55 3.53 Feb. 1... 494-5 4 j ^9 4.12! 4.40 3.98 3.58 3.54 Feb. 8... 334-3^; 494-5 4. 22 I 4.40 3.83 3.58 3.49 Feb. 15- 41/2-4941 4%~43/4| 4.19 I 4.00 3.75 3.48 3.49 Feb. 22.. 3941 4941 4.40 I 4.40 3.75 3.35 3.50 Mar. 1__ 394! 41/2-494 4.28 I 4.40 ! 3. 75 3.06 3.49 Mar. 8_- 396-394 4J4-494j 3.84 I 4.00 i 3.58 3.01 3.44 M M a a r r . . 1 2 5 2 . . 4 zMzn 4 3 94 - - 4 4 ^! i 3 2 . . 5 9 6 7 I i 3 3. . 0 9 0 0 , 1 3 2 . . 3 7 0 8 <3 2 . . 0 9 6 4 I 3 3. . 3 3 7 8 Mar. 29. 394-4 4 I3.78 I 3.80 j 2.68 2.83 I 3.40 Apr. 5, _ _...; 394-4 256 i 4. 00 ! 4.00 : 2.85 2.90 I 3.45 A A p p r r . . 1 1 9 2 I I 3 39 9 4 4 - - 4 4 2%-Z 2 56 j i 3 3 . . 6 8 7 3 ; 4 4 . . 0 0 0 0 i I 2 2. . 9 8 4 8 3 2 . . 0 9 6 7 j ' 3 3 . . 4 4 6 8 Apr. 28—- | 394-4 3 ! 3.56 ; 4. 00 ; 3.00 3.06 3.46 M MM M M M a a a a a y y y y y y 1 3 2 1 3 1 7 1 4 0 . 0 "' " | 3 3 3 9 1 9 4 4 4 - - - 4 4 3 4 94 2 9 H ^1 j \ 394- 3 4 9 3 3 3 3 3 . . . . . 0 0 0 0 8 0 0 0 2 0 ; ! ; i i 3 3 3 3 3 . . . . . 0 0 0 9 2 0 0 0 0 0 I i 2 2 2 2 2 . . . . . 5 5 3 4 8 5 0 8 0 3 2 2 2 2 2 . . . . . 6 4 0 2 97 8 5 4 0 I ! 3 3 3 3 3 . . . . . 4 4 4 4 4 0 4 2 1 1 j June 7 3^-394! ^i29i! ZH. 3.00 I 3.00 2.25 1.97 3.39 June 14 31/2-334! 2*6 3 -3H| 2.81 ; 2.90 2.13 1.78 3.37 June 21 3^-334 2*61 294-3 I 2.56 ! 2.50 2.10 U.98 3.37 June 28 3H3 156-2 I 2^-294 2.02 I 2.20 1.91 1.83 3.37 July 5._ - 294, 2.54 ! 2.38 1.88 1.87 3.36 July 12.. 3 -^ 2^-2941 2.48 I 2.40 1.88 1.85 3.36 July 19.. 3 -3J4 294-3 2.09 2.20 1.88 1.90 3.38 July 26.- 3 - 2.00 j 2.00 1.88 1.84 3.37 Aug. 2.. 2^-294 2.00 2.00 1.88 1.64 3.37 Aug. 9-. 2H-2H 2.23 2.20 1.88 1.55 3.37 Aug. 16.. 1% 2H 2.49 2.40 1.88 1.53 3.37 Aug. 23.. 2H-2H 2.20 2.30 1.88 1.50 3.38 Aug. 30.. 21^-294 2.00 2.00 1.88 1.48 Sept. 6- 2^-294 2.35 2.25 1.88 1.47 3.38 Sept. 13. 2^-294 2.50 2.50 1.88 1.53 3.37 Sept. 20. 2^-294 2.02 2.20 1.88 *2.01 3.36 Sept. 27. 2U-2U 2.00 2.00 1.88 1.99 3.36 Oct. 4___ 2H-2H 1.90 1.90 1.88 1.78 3.34 Oct. 11.. I 2H-2U 2.00 2.00 1.88 1.74 3.34 Oct. 18- 17/ 2^-294 2.00 2.00 1.88 1.75 3.34 Oct. 25._ 156 2H-2H 2.00 2.00 1.88 1.75 3.34 Nov, 3 156 2^-294 2.00 2.00 1.88 1.71 3.33 Nov, 3 156 2 -2\i 2,00 2.00 1.88 1.56 3.33 Nov, 294-3 VA 2 -2M 2.00 2.00 1.88 1.50 3.32 Nov, 23,4-3 1% 2 -2H 2.00 2.00 1.88 1.32 3.32 Nov. 294-3 1% 2 -2H 2.00 2.00 1.88 1.22 3.32 Dec. 6— 2^4-3 2 -2M 2.00 2.00 1.88 1.36 3.33 Dec. 13.. 2 -2H\ 2.09 2.00 1.88 1.44 3.35 Dec. 20_. 21^-294 2.21 2.30 1.88 < 1.56 3.34 Dec. 27.. 1% 2H-2W 2.04 2.00 1.88 1.51 3.35 1 Stock exchange 90-day time loans. 2 Stock exchange call loans; new and renewal rates. 3 Three issues—3H, BH, and 4 per cent; yields calculated on basis of last redemption dates—1947, 1956, and 1954. * Change of issues on which yield is computed. Back figures.—See Annual Reports for 1929 (Table 36), 1928 (Table 40), 1927 (Table 29), 1926 (Table 107)» and 1925 (Table 106). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

82 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 38.—MONEY RATES IN NEW YORK CITY—PREVAILING RATES CHARGED CUSTOMERS, 1926-1930 [Rates prevailing during 7-day period ending with 15th of month. Per cent] Month 1926 January February March April May June July August September October _ November December 1927 January February March.__ _. April May. _ June ___ July August September -. October November ..._ December 1928 January February _ March April ._ May _ June July August September October November... December ._ 1929 January February March _ April._ May June July August. -. September 6 6 October 6 6 -6J^ 6 November 5H-6 6 6 December £-6 6 1930 January 5?4-6 5H-6 February 5 -5H 5 -5H S-6 5^-6 March _ H 4U-5H 5 -6 5 -6 5 -5 April 4H5 41/ 5 -5H 5 J J M u u n a l y y e .... •__• — 4 4 H - - m m 4 4 - - 4 5 4 4 41 ^ /2 - -- 0 55 /2 4 4H ^- ~ 5 5 4 4 4 H ^- - - 5 6 5 D A N S O e e o c u p c t v g o t e e e u b m m m e s b r t b b . e e - e r . r r _ -.. 4 3 3 3 3 ^ ^ 4 4 - - - 4 4 4 4 J4 4 4 4 4 4 - - - - - 4 4 4 H H 4 4 4 4 4 - - - - 5 5 5 5 4 4 4 4 4 ^- - - - - 5 5 5 5 5 4 4 4 - - - 4 5 5 3 Back figures.—See Annual Reports for 1928 (Table 41) and 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT RATES AND MONEY RATES 83 No. 39.—RATES CHARGED CUSTOMERS BY BANKS IN PRINCIPAL CITIES [Weighted averages of prevailing rates] 1919 1920 1921 1922 1923 1928 1929 1930 New York City: January 5.54 5.93 6.71 5.50 4.82 5.21 4.16 4.64 4.66 4.56 5.74 5.64 February 5.36 6.00 6.78 5.48 4.91 5.07 4.43 4.68 4.56 4.44 5.73 5.35 March _ _ 5.46 6.00 6.70 5.43 4.98 5.06 4.53 4.62 4.56 4.59 5.81 5.22 April 5.56 6.09 6.64 5.46 5.32 4.98 4.48 4.62 4.63 4.72 5.85 4.91 May 5.43 6.00 6.68 5.06 5.27 4.89 4.38 4.66 4.63 4.97 5.88 4.74 June ._ _. 5.45 6.00 6.43 4.93 5.21 4.64 4.36 4.58 4.60 5.09 5.93 4.59 July 5.49 6.43 6.21 5.16 5.29 4.21 4.46 4.38 4.56 5.38 5.88 4.48 August 5.49 6.36 6.25 4.66 5.18 4.09 4.36 4.62 4.41 5.56 6.05 4.41 September 5.49 6.57 6.11 4.70 5.33 4.20 4.57 4.81 4.44 5.63 6.06 4.29 October 5.63 6.57 5.93 4.74 5.37 4.41 4.62 4.85 4.49 5.63 6.08 4.26 November 5.56 6.71 5.96 4.82 5.39 4.13 4.61 4.79 4.35 5.56 5.86 4.17 December 5.61 6.36 5.68 4.86 5.21 4.29 4.70 4.79 4.50 5.63 5.74 4.16 Eight other .northern and eastern cities: l January.._ _ 5.79 5.99 6.99 6.08 5.34 5.53 4.80 5.14 | 4. 4.73 5.87 5.88 February _.. 5.67 6.15 6.95 5.89 5.38 5.38 4.79 5.11 i 4. 4.76 5.86 5.66 March 5.66 6.32 6.94 5.77 5.52 5.37 4.89 5.15 4. 4.81 5.91 5.47 April 5.72 6.68 6.99 5.46 5.49 5.31 4.92 5.17 4. 90 4.91 6.00 5.22 May _ 5.59 6.79 6.94 5.43 5.54 5.26 4.95 5.07 4.95 5.04 6.09 5.13 June -. 5.70 6.98 6.97 5.43 5.45 5.12 4.95 4.87 4.93 5.36 6.02 5.06 July 5.75 7.01 6.93 5.31 5.47 5.09 4.90 4.92 4.90 5.57 6.08 4.81 August 5.75 7.01 6.59 5.27 5.64 4.80 4.98 4.91 4.87 5.59 6.11 4.79 September 5.76 6.98 6.62 5.12 5.59 4.87 5.04 5.08 4.77 5.80 6.24 4.74 October... 5.76 7.00 6.65 5.20 5.57 4.87 5.16 5.15 4.79 5.80 6.25 4.75 November 5.77 7.00 6.32 5.38 5.51 4.80 5.20 5.07 4.82 5.82 6.12 4.66 December 5.86 6.97 6.19 5.44 5.48 4.87 5.17 5.09 4.76 5.91 5.94 4.68 Twenty-seven southern and western cities: January _. 6.11 6.16 7.10 6.56 5.90 6.02 5.57 5.56 5.72 5.53 5.94 6.12 February 6.03 6.26 7.11 6.46 5.91 5.91 5.55 5.65 5.71 5.53 5.96 6.04 March 6.02 6. 43 7.13 6.35 5.83 5.89 5.61 5.62 5.65 5.54 6.04 5.98 April 6.01 6.47 7.09 6.22 5.94 5.89 5.61 5.65 5.57 5.54 6.07 5.86 May 6.00 6.56 7.06 6.23 5.92 5.79 5.58 5.61 5.59 5.56 6.10 5.75 June __ 5.91 6.88 7.05 6.13 5.91 5.69 5.59 5.54 5.54 5.67 6.16 5.60 July 5.98. 7.00 7.04 6.04 5.96 5.63 5.59 5.54 5.52 5.77 6.17 5.62 August. 5.94 6.99 7.03 6.02 5.98 5.57 5.60 5.56 5.53 5.80 6.22 5.57 September 5.93 7.07 6.96 5.94 5.94 5.55 5.55 5.60 5.61 5.82 6.27 5.54 October 5.96 7.04 6.85 5.89 5.95 5.47 5.53 5.66 5.56 5.87 6.29 5.53 November 5.95 7.08 6.74 5.94 5.99 5.53 5.55 5.67 5.56 5.90 6.29 5.49 December 6.10 7.07 6.67 5.90 5.99 5.53 5.61 5. 5.60 5.91 6.20 5.42 I NOTE.-—Figures relate to rates charged by reporting banks to their own customers (see Table 38) as distinguished from open-market rates (which are given in Tables 36 and 37). All averages are based on rates reported for 3 types of customers loans—commercial loans, and demand and time loans on securities. The method of computing the averages takes into account (a) the relative importance of each of these 3 types of loans and (6) the relative importance of each reporting bank, as measured by total loans. In the two group averages the average rate for each city included is weighted according to the importance of that city in the group, as measured by the loans of all banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

84 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FOREIGN RATES No. 40.—DISCOUNT RATES AT CENTRAL BANKS IN FOREIGN COUNTRIES— CHANGES FROM JANUARY 1, 1926, TO DECEMBER 31, 1930 [Per cent] Central bank of— Date effective England In effect Jan. 1, 19 .6 5 1926—Jan 12 Mar. 27 June 7 __ July 6 .- July 31 Oct. 4 _ Dec 16 1927—Jan. u _ . Feb 3 Mar 9 ... Apr. 14 Apr. 21_ _ _. 4K Apr. 22 June 10 Oct 4 Oct. 10 Oct. 13 Dec. 29_ „ 1928—Jan. 2. Jan 19 Mar. 5 Apr 1 May 1 June 25 Aug. 24 ._ 1929 Jan 7 Jan.12 Feb.7 Mar 14 Mar. 25 Apr 25 Sept. 26 Sept 27 Oct. 31 6 Nov 1 Nov 2 Nov 16 Nov. 21 Dec. 12____ 5 Dec 13 1930—Jan 1 Jan 14 Jan 16 Jan 30 Feb 5 Feb. 6 &A Mar 3 Mar. 6 4 Mar. 7 . .. Mar 8 Mar. 20 3^ Mar 25 Apr 3 Apr 24 May 1 .- May 2 May 19 May 20 June 21 July 10 Oct 7 Oct 9 In effect Dec. 31, 1930 OC France ^®*' Italy Japan Nether- Sweden Switzerlands land 6 9 7 7.30 ZH 3H i 8 7 ! 6 iy 2 6.57 6V£ 5 5.84 5 I 1 4 6 1 7 5.48 4H 4 I VA 3V4 i i 6 2 4 1 4H 6 6Vo 7 VA • 7H 5 7 5 4 3 _ _ _ __ 6 3H 4 5 3 VA 3 6 VA 4 2 5 11 c 3 m 5.11 3 2H I Back figures.—See Annual Reports for 1929 (Table 38) and 1928 (Table 42). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DISCOUNT RATES AND MONEY RATES 85 No. 41.—OPEN-MARKET RATES IN FOREIGN COUNTRIES, BY MONTHS, 1926-1930l [Per cent] j Nether- ! England I France Germany! Italy Japan2 I lands Switzeri (London); (Paris) (Berlin) 1 (Milan) (Tokyo) ; (Amster- land I dam) (Zurich) Month Bankers' I Private Private Private Discounted Private Private discount discount bills discount discount rate rate rate rate months 1926 January.. 4.76 4.57 8.18 2.95 2.44 February... 4.31 4.27 5.46 8.00 2.19 2.22 March 4.37 4.25 5.00 8.00 2.67 2.18 April 4.33 4.25 4.88 8.00 2.90 2.30 May 4.37 5.15 4.69 8.00 2.95 2.38 June 4.27 5.73 4.53 8.17 2.83 2.38 July 4.26 6.00 4.54 8.50 2.74 2.37 August 4.45 7 00 4 61 8.50 2.63 2.34 September.. 6.98 4.88 8.50 2.78 2.52 October 7.25 4.82 8.96 2.83 2.80 November.. 6.69 4.G3 9.25 3.21 2.96 December.. 5.77 4.72 9.25 3.39 3.35 1927 January 4.99 4.20 9.25 2.97 3.16 February... 4.45 4.23 9.25 3.47 2.87 March 3.89 4.59 9.25 3.50 2.98 April 3.17 4.61 9.25 3.47 3.13 May 2.46 4.90 8.50 3.46 3.19 June 2.25 5.39 7.60 3.57 3.42 July... 2.13 5.90 7.00 3.53 3.47 August 2.04 5.82 7.00 3.45 3.44 September- 2.01 5.90 6.81 3.56 3.39 October 1.82 6.69 6.50 4.11 3.38 November.. 2.75 6.76 6.27 4.50 3.39 December.. 2.95 6.87 6.00 4.49 3.40 1928 January 4.19 2.81 6.27 6.00 4.29 3.29 February. _. 4.18 2.75 6.20 5.89 3.97 3.12 March 4.12 2.72 6.72 5.75 6. 57-6. 94 3.97 3.20 April 4.02 2.62 6.71 5.49 6. 57-6. 75 4.18 3.29 May 3.97 2.62 6.66 5.25 6. 39-6. 75 4.27 3.32 June 3.82 2.90 6.59 5.25 6. 39-6.57 4.18 3.40 July 3.99 3.12 6.74 5.25 6. 21-6. 57 4.10 3.44 August 4.27 3.23 6.68 5.25 6. 21-6. 39 4.13 3.41 September- 4.23 3.26 6.65 5.25 6. 02-6. 39 4.39 3.38 October 4.35 3.37 6.57 5.25 6. 21-6. 39 4.40 3.38 November.. 4.38 3.37 6.28 5.45 6.02-6. 21 4.44 3.35 December.. 4.37 3.41 6.28 5.50 5. 84-6. 21 4.46 3.32 1929 January 4.32 3.50 5.80 5.83 5. 84-6. 21 4.20 3.28 February... 5.05 3.39 5.80 6.00 5. 66-5. 84 4.39 3.31 March 5.33 3.37 6.31 6.31 5. 66-5. 84 4. 64 3.39 April 5.21 3.44 6.63 6.75 5. 48-5. 66 5. 36 3.45 May 5.21 3.49 7.49 6.83 5. 48-5. 66 5.37 3.34 June__ 5. 32 3.50 7.50 6.75 5. 48-5. 66 5.30 3.26 July 5.38 3.50 7.39 6. 75 5. 48-5. C6 5.20 3.19 August 5.47 3.50 7.18 6.85 5.48 5.06 3.33 September. 5.59 3.50 7.18 7.01 5.48 5.36 3.38 October 6. 13 3. 50 7.28 7.18 5.48 5.15 3.38 November.. 5.35 3.50 6.89 7.00 5.48 4.26 3.32 December.. 4.76 3.50 6.98 7.00 5.48 3.52 3.15 1930 January 4.07 3.38 6.33 7.00 5.48 2.99 2.97 February--- 3.82 2.91 5.53 6.95 5.48 2.80 2.71 March 2.78 2.70 5.12 6.57 5.48 2.50 2.60 April 2.48 2.57 4.46 6.43 5.48 2.52 2.61 May 2.16 2.36 3.89 5.81 5.48 2.29 2.44 June_._ 2.31 2.11 3.58 5.50 5.48 1.89 2.06 July 2.37 2.08 3.40 5.50 5.48 1.85 1.92 August 2.21 2.10 3.24 5.50 5.48 1.83 1.75 September- 2.07 1.99 3.30 5.48 5.48 1.96 1.50 October 2.09 2.00 4.66 5.25 5. 48-5. 66 1.59 1.29 November.. 2. 18 2.00 4.79 5.43 5.48-5.66 1.31 1.16 December.. 2.30 2.03 4.82 5.50 5.48-5.66 1.39 1.18 1 All figures are monthly averages. For sources used and detailed explanation of methods of quotation, see Federal Reserve Bulletin ior November, 1926, April, 1927. November, 1929, and May, 1930. 2 Revised series; see Federal Reserve Bulletin for July, 1929. Digitized for BFaRckA SfigEurRes .—See Annual Report for 1926 (Table 116). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

MEMBER AND NONMEMBER BANK CREDIT 33454—31 7 87 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALL BANES IN THE UNITED STATES No. 42.—ALL BANKS1 IN THE UNITED STATES—LOANS AND INVESTMENTS OP MEMBER AND NONMEMBER BANKS, 1914-1930 [In millions of dollars] Loans and investments Loans Investments Date* ba A n l k l s M ba 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 »6,443 <8,804 5,541 a 1,870 *3,671 1915—June 23- 21,466 8,764 12,702 15,643 6,720 8,923 5,823 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 4,693 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 8,888 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 23,886 14,521 17,043 10,361 6,683 1928—June 30 57, 265 35,061 22,204 39,464 24,303 15,161 17,801 10,758 7,043 Dec. 31 58,266 35,684 22,582 40, 763 25,155 15,607 17,504 10,529 6,975 1929—June 29 58, 474 35, 711 22,763 41, 512 25,658 15,853 16,962 10,052 6,910 Dec. 31 58,417 35,934 22,483 41,898 26,150 15,748 16,519 9,784 6,735 1930—June 30 58,108 35,656 22,453 40,618 25,214 15,404 17,490 10,442 7,048 1 Includes member and nonmember banks (23,852 altogether in June, 1930) as follows: National banks, State commercial banks and trust companies, mutual and stock savings banks, and all private banks under State supervision (about 243 in June, 1930). 2 Dates of reports of member banks; figures for ronmember banks are as of nearest available date. 3 National banks. * Nonnational banks. 89 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

90 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 43.—ALL BANKS X IN THE UNITED STATES—DEPOSITS OF MEMBER AND NONMEMBER BANKS (EXCLUSIVE OP INTERBANK DEPOSITS), 1914-1930 [In millions of dollars] Date a 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 Date' 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 18,566 3 6,374 «12,192 1924—June 30 43,405 25,711 17,694 1915—June 23 19,131 6,678 12,453 Dec. 31 45,835 27,836 17,999 1916—June 30 22, 759 8,395 14,364 1925—June 30 47,612 28,440 19,172 1917—June 20 26,352 10,301 16,052 Dec. 31 49,224 30,029 19,195 1918—June 29 28, 765 15,670 13,095 1926—June 30 49, 733 29,781 19,952 Dec 31 50,029 30,474 1Q cce 1919—June 30 33,603 19,171 14,433 1927—June 30 51,662 31,269 20,393 1920—June 30 37,721 21,915 15, 805 Dec. 31 52,909 32,063 20,846 1921—June 30 35, 742 20,637 15,104 1928—June 30 53,398 32,133 21,265 1922—June 30 37,615 22,397 15, 219 Dec. 31 56,766 34,826 21,940 1923—June 30 40, 688 23,871 16,817 1929—June 29 53,852 32,284 21, 567 Dec. 31.. 42,163 24,996 17,167 Dec. 31 55,289 33,865 21,424 1930—June 30 54,954 33,690 21,264 i Includes member and nonmember banks (23,852 altogether in June, 1930) as follows: National banks, State commercial banks and trust companies, mutual and stock savings banks, and all private banks under State supervision (about 243 in June, 1930). i Dates of reports of member banks; figures for nonmember banks are as of nearest available date. * National banks. 4 Nonnational banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 91 ALL MEMBER BANKS No. 44.—ALL MEMBER BANKS—RESOURCES AND LIABILITIES OF NATIONAL AND STATE BANK MEMBERS, DECEMBER 31, 1929 AND 1930 [In thousands of dollars] Total National banks * State bank members Dec. 31, Dec. 31, Dec. 31, ! Dec. 31, Dec. 31, Dec. 31, 1929 1930 1929 1930 1929 1930 RESOURCES Loans (including overdrafts). 26,150,061 23, 870,488 15,136,414 14, 346, 76211,013,647 9,523,726 United States Government securities 3,862,968 4,1•2-4- , 7—76 2,608,865 2, 649,262 1,254,1031 1,475,514 Other securities 5,920,921 6,864,247 3,839,049 4,429,613 2,081,872 2,434,634 Total loans and investments 35, 933,950 341,,859,51121, 584, 338 1,425,637 14, 349, 622 13,433,874 Customers' liability on account of acceptances _ 1,252,147 1,117, 833 617, 502 613,607 634,645 504, 226 Banking house, furniture, and fixtures 1,190,306 1, 240,444; 765,835 811,499 424,471 428, 945 Other real estate owned _ _ 183,989 191,169 123, 599 120, 719 60,390 70,450 Cash in vault 558,450 592,504 390,140 405,821 168,310 186,683 Reserve with Federal reserve banks.- 2, 373,760 2,474, 509 1,348, 046 1,460,365 1,025, 714 1, 014,144 Items with Federal reserve banks in process of collection 994,373 757, 216 583, 627 450, 229 410,746 306,987 Due from banks in United States 2,167, 756 2,455,948 1, 565, 020 1,777,03' 602, 736 678,911 Due from banks in foreign countries (including own branches) 260,818 180,540 204,448 83,294 56,370 Exchanges for clearing house and other checks on local banks 2, 762,463 2, 076,189 1,193,331 1,010,263 1,569,132 1,065,926 Outside checks and other cash items 139, 056 92,766 92, 679 63,011 46,377 29,755 Redemption fund and due from United States Treasurer 32,889 32,318 32,889 32, 318 Acceptances of other banks and bills of exchange or drafts sold with indorsement. 735,193 662,686 230,961 244,489 504,232 418,197 Securities borrowed 35, 533 21,069 26, 985 15, 803 8,548 5,266 Other assets _ 219, 379 222,911 104,100 118, 586 115, 279 104,325 Total. 48,843, 078 47, 057, 89128, 839, 582 28, 753,832 20,003,496 18, 304,059 LIABILITIES Capital stock paid in 2, 757,113 2,665,151 1, 701, 048 1, 718, 734 1,056,065 946,417 Surplus 2,864, 612 2,822, 091 1, 546, 323 1, 546,302 1, 318,289 1, 275, 789 Undivided profits—net. _. 909, 548 894,388 496,475 515,381 413, 073 379,007 Reserves for dividends, contingencies, etc. 177,25r 211,407 91, 576 108,269 85,676 103,138 Reserves for interest, taxes, and other expenses accrued and unpaid 137, 660 121,190 71,839 64,277 65,821 56,913 Due to Federal reserve banks 54,458 49,267 42, 908 32, 416 11, 550 16,851 Due to other banks in United States 3, 517, 325 3,872,842 2,165, 717 2,360,920 1, 351, — 1,511,922 Due to banks in foreign countries (including own branches) 576,664 634,927 257,863 388,597 318,801 246,330 Certified and officers' checks outstanding. 1, 603, 562 1,223, 777 686,545 633, 590 917, 017 590,187 Cash letters of credit and travelers' checks outstanding 23,460 20,960 9,734 8,77' 13, 726 12,183 Demand deposits 18, 861, 58217,501,550 11., 074,48510,622,893 7, 787,097 6, 878,657 Time deposits 13, 233,481 13!;, 546,201 8,419, 021 8, 711, 721 4,814,460 4, 834,480 United States deposits. __ 143, 203 267,415 100,588 160,638 42, 61," 106, 777 Agreements to purchase United States Government or other securities sold 136, 957 158,141 31, 981 33, 073 104,976 125,068 Bills payable and rediscounts: With Federal reserve banks 646, 334 248,017 425, 576 185, 732 220, 758 62,285 Allother 232,188 107,151 120, 011 69,874 112,177 37,277 Acceptances of other banks and bills of exchange or drafts sold with indorsement. 735,193 662,686 230,961 244,489 504,232 418,197 Acceptances executed for customers 1,276,159 1,138,624 626,497 625,450 649, 662 513,174 Acceptances executed by other banks for account of reporting banks 29,647 15,031 12, 525 8,242 17,122 6,789 National-bank notes outstanding 645, 562 639, 640 645, 562 639,640 Securities borrowed 35, 533 21,069 15, 803 8,548 5,266 Other liabilities.. 245, 58£ 236,366 55, 362 59,014 160, 223 177, 352 Total 48,843,078 47,057, 28,839, 582 28, 753,832 20,003,496 18, 304, 059 JMember banks only; i. e. exclusive of national banks in Alaska and Hawaii. Back figures.—For principfal items see Table 46, also Annual Report for 1926 (Tables 77-78: Separate figures for national and State members); for details see (1) Member Bank Call Report Nos. 35-50; (2) Annual Reports for 1929 (Table 42), 1928 (Table 4i6), 1927 (Table 84), 1926 (Table 79), 1925 (Tables 78-80), 1924 (Tables 78-80); (3) Federal Reserve Bulletins. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

92 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 45.—ALL MEMBER BANKS—RESOURCES AND LIABILITIES OF RESERVE CITY AND COUNTRY BANKS, DECEMBER 31, 1929 AND 1930 [In thousands of dollars] Central reserve Other reserve city Country banks city banks banks Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1929 1930 1929 1930 1929 1930 RESOURCES Loans (including overdrafts) 8,130,237 7,490, 506 9,084,286 8,379,156 8,935, 538 8,000, 826 United States Government securities 1, 228,333 1,479, 081 1,367,885 1,486,289 1,266, 750 1,159,406 Other securities 1,172, 079 1,473, 861 1,576,462 2,031,140 3,172,380 3, 359, 246 Total loans and investments % 530, 649 10),; 443,448 1^3,!028,63311,896,585 L3,374, 668 2,519,478 Customers' liability on account of acceptances 950, 087 858,038 285,233 245,866 16,827 13,929 Banking house, furniture, and fixtures 225, 650 255,641 435, 217 448,872 529,439 535,931 Other real estate owned 12,498 63,089 67, 432 112,204 111,239 Cash in vault _- _ _ 80,979 105,970 156,398 169,217 321,073 317,317 Reserve with Federal reserve banks 995, 567 1,109, 346 751,396 770,591 626, 797 594, 572 Items with Federal reserve banks in process of collection 404, 534 272,963 437,347 348, 204 152, 492 136,049 Due from banks in United States 312, 050 339, 574 947,364 1,141, 771 908, 342 974,603 Due from banks in foreign countries (including own branches) 212, 733 188, 571 46,444 69,411 4,657 2,836 Exchanges for clearing house and other checks on local banks 2,135,924 1,617,600 519,190 361,952 107, 349 96,637 Outside checks and other cash items 23, 379 13, 526 84,387 54,222 31,290 25, 018 Redemption fund and due from United States Treasurer . 2,044 2,220 7,825 7,426 23, 020 22,672 Acceptances of other banks and bills of exchange or drafts sold with indorsement- 647, 432 558, 973 84, 522 98,309 3,239 5,404 Securities borrowed _ 211 23,738 9,752 11, 584 11,317 Other assets 84, 521 85,669 87, 35f 80,933 47, 506 56,309 Total. 16,614,456 15,864,03: 15,958,135 15, 770, 54316,270,487 15,423,311 LIABILITIES Capital stock paid in 893, 781 867,837 841, 701 995,495 Surplus 1,138,815 1,109,306 860, 810 854, 245 864,98" 858, 540 Undivided profits—net ___ 321,702 339,903 243, 273 231,335 344, 573 323,150 Reserves for dividends, contingencies, etc. _ 67,110 77, 743 56, 733 72,124 53,409 61, 540 Reserves for interest, taxes, and other expenses accrued and unpaid 56, 736 47,972 44,135 38,402 36,789 34,816 Due to Federal reserve banks _ 10 9 10,474 9,420 43,974 39,838 Due to other banks in United States 1, 508, 284 1, 713,815 1,603,756 1, 772, 505 405,285 386, 522 Due to banks in foreign countries (including own branches) 523,381 577, 274 50,451 55, 722 2,832 1, 931 Certified and officers' checks outstanding. 1,195, 333 874,584 283,723 237,458 124,506 111, 735 Cash letters of credit and travelers' checks outstanding- 17,223 15,105 5,834 5,471 403 384 Demand deposits _ 7,057,844 6,687,470 5,970,365 5, 594,4685,833,373 5,219,612 Time deposits - 1, 755, 014 1,805,404 4,888,— 5, 202,3456,590,408 6,538,452 United States deposits 27,999 62, 640 75,878 151,867 39,326 52, 908 Agreements to repurchase United States Government or other securities sold 67, 545 100, 921 53,535 42,237 15,877 14,983 Bills payable and rediscounts: With Federal reserve banks 149,108 20, 516 242,078 63,380 255,148 164,121 Allother 71,050 16, 024 49,622 11,638 111, 516 79, 489 Acceptances of other banks and bills of exchange or drafts sold with indorsement _ 647,432 558, 973 , 84,522 98,309 3,239 5,404 Acceptances executed for customers 967,450 873,151 292,812 252,889 15,897 12, 584 Acceptances executed by other banks for account of reporting banks 14,340 9,878 13, 561 3,47: 1,746 1,682 National-bank notes outstanding 39,407 44,119 153,124 144, 298 453,031 451, 223 Securities borrowed 21: 23,738 9,752 11,584 11,317 Other liabilities 94,68: 90, 588 83,815 77,506 67,089 68,272 Total 16, 614,456 15, 864,037 15,958,135 15, 770, 543 16, 270,487 15,423, 311 Back figures.—See (1) Member Bank Call Report, Nos. 35-50 (where data are given by cities); (2) Annual Reports for 1929 (Table 43), 1928 (Table 47), 1927 (Table 85), 1926 (Table 80), 1925 (Tables 81-84), 1924 (Tables 81-84); and (3) Federal Reserve Bulletins. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 46.—CLASSIFICATION OF MEMBER BANK LOANS AND INVESTMENTS ON CALL DATES, 1928-1930 [In millions of dollars] Loans to banks Loans to customers (exclusive of banks) Open-market loans Investments Secured by Secured by real Total stocks and bonds estate Purchased paper Total Call date i m n lo a v e n a e n d n s t s t s - Total S s b e t a o c o b n u n c y d r d k e s s d o A th l e l r Total b Y N C r o s T o i u o e i d k o t t w r - e y e k rs to o c m t T u h o s e e - r r s F la a n r d m e O r s e t t h a a e t l e r w O c c u a u i u n t s n h r r s e e e d e e d d r s - - e- Total A U a S a b p c n n t a l a c i c e y t t e e e e - i p s n s d t-A a a b p e a n c r a t b c c c o y l e e . a e - , p s d , t- p C m c a o i e p m a r e l - - r S lo t a re n e s t ' Total s U m G e e ti c r o . e e n S u v n s - r . - t i- s O e t c i t e h u s e ri r - s b l t o a o o o n a n c n d n d k s s s Tota 1 l 9 : 28—Oct. 3 34,929 548 8 I 21,240 850 5,796 421 2,668 11,507 2,537 80 101 457 1,899 10,604 4,386 6,218 3 8,819 Dec. 31 35,684 538 1 21,460 975 6,373 412 2,711 10,991 3,158 109 103 390 2,556 10,529 4,311 6,217 310,172 1929—Mar. 27 35,393 548 21,903 1,014 6,526 403 2,720 11, 240 2,493 146 93 376 1,879 10,448 4,454 5,994 3 9,693 June 29 35, 711 670 1 22, 517 921 6,813 '404 ' 2, 760 11,618 2,471 108 90 249 2,025 10,052 4,155 5,898 310, 094 Oct. 4 35,914 640 23, 249 939 7,170 392 2,760 11,988 2,275 93 70 228 1,885 9,749 4,022 5,727 310, 314 Dec. 31 35,934 714 23,194 803 7, 685 388 2,803 11,515 2,243 212 80 291 1,660 9,784 3,863 5,921 310, 505 1930—Mar. 27 35,056 527 21,495 706 7,024 394 2,775 10,595 3,097 175 79 499 2,344 9,937 4,085 5,852 10, 334 June 30 35,656 535 260 267 21, 566 819 7,242 386 2,769 10, 349 3,113 170 71 507 2,365 10, 442 4,061 6,380 10, 656 Sept. 24 35,472 466 230 305 21,010 774 7,090 387 2,776 9,982 3,262 205 62 523 2,472 10,734 4.095 6,639 10, 511 Dec. 31 34,860 631 175 291 21,007 675 7,266 387 2,847 9,831 2,233 315 55 366 1,498 10,989 4,125 6,864 9,754 Reserve city banks: 315 316 1928— D O e c c t . . 3 31 2 2 1 2 , , 3 0 1 1 7 7 5 5 0 0 2 0 8 (12) 1 1 3 3 , , 0 2 1 0 6 7 8 7 6 3 8 3 4 4 , , 1 57 8 4 6 1 1 2 2 7 1 1 1 , , 5 5 3 5 9 7 6 6 , , 4 08 3 7 2 2 1, , 9 5 2 3 3 3 5 7 6 9 8 9 4 5 2 1 6 7 2 9 2 1 , ,5 1 2 8 1 0 5 5 , , 8 7 7 7 7 7 3 2 , ,9 0 3 2 0 4 2 2, , 8 8 4 5 7 3 3 3 7 6 , , 8 6 7 9 2 0 1929—Mar. 27.... 21, 652 509 8 13, 539 900 4,584 114 1,543 6,397 1,895 102 85 184 1,525 5,708 3,030 2,678 3 7,264 J O u c n t e . 4 29 2 2 2 1 , , 1 9 3 9 4 2 5 6 9 2 5 1 ( ( 2 2) ) 1 1 4 3 , , 9 6 6 2 6 2 8 81 1 4 7 4 5 , , 7 0 7 0 9 0 •• 1 1 1 1 3 3 r 1 1 , , 5 5 5 6 4 5 6 7 , , 6 14 9 1 3 1 1 , , 7 9 2 7 2 5 6 7 6 5 6 8 4 3 1 8 0 3 9 1 1 , , 7 5 0 0 8 9 5 5 , , 1 4 9 2 5 9 2 2 , , 6 7 6 7 1 1 2 2 , , 5 6 3 5 4 8 3 3 7 7 , , 6 6 1 2 4 0 Dec. 31 22, 559 669 8 14, 712 720 5,454 112 1,617 6,809 1,834 179 75 128 1,452 5,345 2,593 2,749 » 7,959 Cou 1 n 9 t 3 ry 0 — b J D S a M u e e n n p c a k . e r t s . . 3 : 3 2 2 0 1 _ 4 7 _ . . _ . . _ . . _ . . 2 2 2 22 2 1 2 , , , , 3 4 8 5 4 9 1 2 0 9 3 8 4 5 4 4 6 6 0 7 9 2 4 3 3 2 2 1 0 4 2 6 0 6 0 4 • 2 2 2 4 1 5 0 6 3 1 1 1 1 3 3 3 3 , , , , 2 2 3 0 4 3 8 0 4 7 8 3 6 6 6 7 1 1 8 2 7 3 5 9 5 4 4 5 , , , , 1 9 9 1 7 2 7 0 6 6 8 5 1 1 1 1 2 1 1 1 3 5 2 2 1 1 1 1 , , , , 6 5 5 5 5 8 6 7 6 0 9 1 5 6 5 5 , , , , 6 0 8 6 7 5 2 5 3 4 3 6 2 2 2 2 , , , , 0 9 6 8 5 7 0 0 6 6 1 1 3 2 1 1 1 0 4 6 0 2 8 2 5 7 6 5 2 5 7 8 2 3 2 3 4 5 9 3 6 9 2 6 2 1 2 2 , , , , 4 0 3 2 4 8 5 3 8 6 7 5 6 6 5 5 , , , , 4 1 4 8 4 7 6 8 5 0 2 8 2 2 2 2 , , , , 9 8 8 8 6 7 1 3 5 6 2 3 3 2 3 3 , , , , 6 5 2 0 5 0 6 5 0 5 9 5 8 8 7 7 , , , , 1 5 2 8 8 4 7 8 4 1 2 9 1928—Oct. 3 13,612 46 1 269 8,224 117 1,610 294 1,129 5,075 614 24 17 195 378 4,727 1,362 3,365 3 2,129 P r~ * 1929— D M e a c. r . 3 2 1 7 1 1 3 3 , , 7 6 4 6 1 7 3 3 7 9 § 8 8 , , 3 2 6 5 4 3 1 11 0 4 7 1 1, , 9 7 4 9 2 9 2 2 9 8 0 9 1 1 , , 1 17 5 6 3 4 4 , , 9 8 0 4 4 3 6 5 2 9 5 8 4 3 4 0 8 8 2 1 1 9 1 2 3 3 7 5 6 4 4 4 , , 7 7 4 5 0 1 1 1 , , 3 42 8 4 2 3 3, , 3 3 1 7 6 0 3 3 2 2, , 4 3 2 0 9 0 F"? 1930— J D D S O J M u u e e e c n p c c n a t e . . . r e t . . 4 3 3 3 2 2 2 1 1 0 9 7 4.... 1 1 1 1 1 1 1 3 2 3 3 2 3 3 , , , , , , , 5 9 1 2 3 7 7 1 4 5 4 8 7 1 9 4 7 3 0 5 9 6 4 6 6 6 4 4 2 5 5 2 2 9 5 1 1 1 1 ( 8 \ 7 8 8 8 8 8 8 , , , , , , , 7 2 0 5 2 4 6 6 5 0 0 2 8 2 1 2 6 7 8 2 8 1 1 8 9 9 5 8 2 0 3 3 0 9 8 5 5 2 2 2 2 2 2 2 , , , , , , , 0 0 1 0 2 1 1 9 9 3 3 1 7 3 0 7 7 4 2 0 1 2 2 2 2 2 2 2 6 7 7 7 7 7 9 4 6 9 4 5 9 1 1 1 1 1 1 1 1 , , , , , , , 1 1 1 1 2 0 2 9 8 9 9 0 2 0 6 6 5 1 6 5 1 4 4 4 4 4 4 4 , , , , , , , 1 5 7 9 5 3 8 5 2 2 2 0 4 4 8 7 6 6 5 7 1 4 4 4 3 2 5 1 9 0 9 1 8 7 5 7 8 6 2 6 7 3 3 2 3 2 4 5 8 3 7 3 7 4 4 4 3 5 7 6 2 1 1 1 1 1 1 0 2 6 4 6 4 7 7 0 3 4 4 0 1 2 2 3 3 1 1 4 0 5 1 7 2 1 9 8 8 6 6 9 5 4 4 4 4 4 4 4 , , , , , , , 5 4 4 5 6 5 5 1 7 3 8 2 5 5 9 5 9 9 3 4 4 1 1 1 1 1 1 1 , , , , , , , 2 2 3 1 2 2 3 7 8 6 2 5 1 6 3 4 7 9 9 9 1 3 3 3 3 3 3 3 , , , , , , , 3 3 1 3 2 1 2 2 7 5 9 7 0 4 2 3 6 9 0 2 0 3 3 3 2 2 2 2 2 2 2 , , , , , , , 4 3 3 2 6 4 5 6 6 2 1 9 8 4 2 7 6 3 4 0 5 1 Loans to brokers and dealers in securi1ti5es in N 5 e 2 w York City. 2 Figures not available. 4 Security loans to banks estimated. ' Revised. 51 46 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 47.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1914-1930 CO [In millions of dollars] Loans and investments Call date Total Loans » Inves U tm .S. ents Other b f a D r n o u k m e s2 ta v C u p l a i , n l a d n u d p s e d s u i i d , - - r- d T ep o o t s a i l ts d D e e p m os a i n ts d * p T o d i s e m i - ts e « U S n t d a i e t t - e e s d b D a u n e k t s o 6 d d e e N m po e a s t n it d s d d e e t p p N m i o l m u e a s t e s i n t d s7 R F r b e e w e a s d s e n i e e t r k r h r v v a s e e l c r o B p a e a u a b d n il y n l i d l e s - s t - s b N b a e u n r m k o s - f Total securi- securi- profits« ties ties 1914—Dec. 31— 8,498 6,419 2,079 760 1,319 1,163 8,305 5,125 1,233 71 1,876 6,235 7,468 133 7,582 1916—Mar. 4.. 8,570 6,563 2,007 747 1,260 1,353 2,098 5,092 ,264 58 2,252 6.622 7,886 295 96 7,607 Mayl__ 8,707 6,705 2,002 750 1,252 1.322 2,097 8,967 5,367 ,320 46 2,234 6,735 8,055 295 91 7,614 June 23.. 8,764 6,720 2,044 749 1,295 1,282 2,124 8,894 5,278 ,352 48 2,216 6,811 8,163 317 98 7,615 Sept. 2.. 9,048 6,965 2,083 747 1,336 1,443 2,129 9,437 5,491 ,416 44 2,486 7,145 8,561 324 106 7,630 Nov. 10. 9,693 7,483 2,210 745 1,465 1,637 2,146 10,389 6,152 ,463 40 2,734 7,879 9,342 376 104 7,640 Dec. 31- 9,861 7,622 2,239 742 1,497 1,563 2,126 10,636 6,334 ,506 35 2,761 7,971 9,477 ] 414 99 7,631 1916—May 1__ 10,252 7,898 2,354 710 1,644 1,767 2,148 11,404 6,661 ,686 34 3,022 8,336 10,022 438 64 7,605 June 30— 10,315 7,964 2,351 703 1,648 1,564 2,143 11,133 6,581 ,775 39 2,738 8,226 10,001 490 69 7,606 Sept. 12. 10,732 8,263 2,469 703 1,766 1,748 2,184 11,737 6,892 ,853 34 2,958 8,804 10,657 554 95 7,618 Nov. 17. 11,259 8,712 2,547 697 1,850 2,057 2,213 12,893 7,522 1,940 34 3,397 9,567 11,507 674 80 7,614 Dec. 27__ 11,275 8,714 2,561 1,871 1,874 2,231 12, 661 7,340 1,983 35 3,303 9,502 11,485 733 95 7,614 1917—Mar. 5.. 11,701 2,605 1,918 2,056 2,218 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 12,132 802 8 95 7,629 June 20- 12,453 » 9,370 3,083 1,065 2,018 1,695 2,307 13,397 7,856 2,304 141 3,096 11,993 862 8 327 7,653 Dec. 31.. 16,896 M12,316 4,580 1,759 2,820 2,129 2,807 18,628 11,180 3,156 649 3,643 12,487 15,643 1,497 8 783 7,907 1918—May 10. 18, 673 ».»12, 667 6,006 3,203 2,803 1,870 3,005 19,210 11,051 3,347 1,459 3,353 12,451 15, 797 1,536 8 1,043 8,132 June 29__ 18,507 M13, 233 5,274 2,465 1,906 3,002 18,954 10, 754 3,395 1,521 3,284 12, 217 15,612 1,565 81,022 8,213 N De o c v . . 3 1 1 . - . 2 2 0 0 , , 9 5 8 9 1 3 « 8 1 1 4 4 , , 2 5 2 5 4 0 6 6, , 4 3 3 6 1 8 3 3 , , 5 4 9 7 1 2 2 2 , , 8 8 4 9 0 6 2 2 , , 0 1 3 9 6 4 3 3, , 2 2 2 2 0 2 2 21 0 , , 4 8 5 6 7 4 1 1 2 3 , , 0 3 5 4 9 7 3 3 , ,6 8 5 3 1 4 1, 4 7 7 0 2 8 3 3 , ,4 8 4 0 6 4 1 1 3 4 , , 5 3 6 2 3 2 1 1 6 8 , , 9 3 7 9 3 7 1 1 , , 5 6 2 5 0 5 8 8 1 1 , , 8 9 7 1 6 2 8 8 , , 6 59 9 6 2 1919—Mar. 4.. 21,484 8 13,877 7,607 4,652 2,955 2,137 3,280 21,511 12,727 4,092 884 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 8 18,149 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 24,871 15,388 5,747 190 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 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 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 3,084 15,345 21,533 1,763 3,036 9,606 1921--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 9,698 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 2,581 3,507 1,450 4,093 23,247 13,630 6,451 2,860 14,449 20,900 1,758 1,364 9,779 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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 June 30__. 26, 507 18,750 7,757 3,835 3,922 1,596 4,367 27,088 15,196 8,378 297 I 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 1,900 808 ! 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 16,112 25,002 1,893 614 ! 9,681 June 30... 27,167 19.204 7,963 3,575 4,387 1,940 4,486 29, 566 16,329 9,204 179 3,854 16,838 26,042 1,965 443 I 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 32,384 17,788 9,805 242 4,548 18,468 28,273 2,228 408 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 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 Dec. 31.. 30,884 21,996 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 1926—Apr. 12 30,819 21,785 9,034 3,805 5,229 1,934 4,826 32,893 17,710 10,955 379 3,849 18,392 29,347 2,136 620 9,412 June 30 I 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 — J 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 • 927—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 30,360 2,321 546 9,144 June 30 32, 756 22,938 9,818 3,796 6,022 1,968 5,147 35,398 18,842 12, 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 31,629 2,320 528 9,087 Dec. 31_. _. 34, 247 23,886 10,361 3,978 6,383 2,210 5,341 36,669 19,032 12,765 267 4,606 20,105 32,870 2,514 9,034 1928—Feb. 28.. 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 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 19,191 32,629 2,342 209 8,929 Oct. S.- 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 2,348 154 8,896 Dec. 31.. 35,684 25,155 10,529 4,312 6,217 2,124 5,899 39,075 21, 111 13,453 262 4,249 19,944 33,397 2,409 162 8,837 1929—Mar. 27 | 35,393 24, 945 10,448 4,454 5,994 1,741 6,174 36,799 19,476 13,329 411 3,584 18,833 32,162 2,339 153 8,755 June 29 I 35,711 25, 658 10,052 4,155 5,898 1,885 6,345 35,893 18,611 13,325 348 3,608 18,977 32,302 2,359 198 8,707 Oct. 4 35,914 26,165 9,749 4,022 5,727 2,005 6,675 36, 694 19,371 13, 318 315 3,690 18,952 32, 269 2,322 150 8,616 Dec. 31 | 35,934 26,150 9,784 3,863 5,921 2,168 6,709 38,014 20,489 13, 233 143 4,148 19, 797 33,030 2,374 879 8,522 1930—Mar. 27 35,056 25,119 9,937 4,085 5,852 1,902 6,760 35, 836 18,238 13,519 325 3,754 18,489 32,007 2,353 347 8,406 June 30... 35,656 25, 214 10,442 4,061 6,380 2,360 6,726 38,139 19, 597 13,812 281 4,450 19,170 32,982 2,408 435 8,315 Sept. 24 35,472 24, 738 10,734 4,095 6,639 2,463 6,827 36, 364 17, 637 13,945 257 4,525 18,657 32, 602 2,415 316 8,246 Dec. 31 34,860 23,870 10,989 4,125 6,864 2,456 6,593 37,117 18, 746 13, 546 267 4,557 18,969 32,516 2,475 355 8,052 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, except that such deposits of State bank members prior to June 20, 1917, are included with demand deposits. e 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. s Includes small amounts of bills sold with indorsement. » Excludes customers' liability on letters of credit for State bank members. Or Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

96 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 48.—ALL MEMBER BANKS—DEPOSITS SUBJECT TO RESERVE, RESERVES REQUIRED, RESERVES HELD, AND BORROWINGS AT FEDERAL RESERVE BANKS, BY MONTHS [Averages of daily figures. In thousands of dollars] Deposits subject to reserve Reserves held Borrowings Class of bank and month Reserves at (1930) Net required Federal demand i Time 2 Total Total Excess reserve banks All member banks: January 18, 719, 288 13, 261, 244 31,980, 532 2, 304,642 2,349,131 44, 489 497, 620 February 18, 262,156 13,269, 284 31, 531,440 2,252,691 2,305,923 53, 232 378,282 March _ _. 18,389,988 13,401, 362 31,791, 350 2,274,099 2,330,049 55,950 271,772 April _ 18, 652, 842 13, 506, 494 32,159,336 2,307,138 2,349, 541 42,403 231,111 May _ __. 18, 644, 594 13, 584, 018 32, 228, 612 2,311, 256 2,356,386 45,130 245, 233 June _ 18,811,696 13,692,677 32, 504,373 2,337,841 2,391,762 53,921 249, 774 July_._ 18,819,818 13,843,321 32, 663,139 2,343,310 2,417,271 73,961 223,392 August 18,745, 621 13,834,934 32, 580, 555 2,339,921 2,392,212 52,291 213,750 September 18, 707, 253 13,935,917 32, 643,170 2,337,933 2,397,145 59,212 188,468 October 18,726,044 13,999,700 32, 725,744 2,347,447 2,406,576 59,129 196,164 November 18,958,633 14,055,627 33,014,260 2,380,938 2,432,651 51,713 220, 273 December 18, 660,450 13,653,746 32,314,196 2,342, 218 2,414,993 72,775 337,094 Central reserve city banks: January _ 6, 911, 314 1,786, 742 8,698,056 952,073 961,746 9,673 72, 210 February 6, 641,358 1, 748,930 8,390,288 915,845 933,240 17,395 30,414 March 6, 767,907 1, 834, 776 8, 602,683 934,871 951,756 16,885 23,117 April __. 6,910, 766 1,895, 746 8,806, 512 955, 273 960,685 5,412 28,783 May 6,963,795 1,925, 618 8, 889, 413 963,061 969,428 6,367 29, 623 June 7,133,104 2,000,377 9,133,481 987,315 997, 850 10,535 27, 783 July... 7,092, 545 2,116,620 9, 209,165 985, 529 1,012,841 27,312 9,744 August.. 7,145, 357 2,086,113 9, 231,470 991,480 998,947 7,467 21,324 September 7,104,367 2,105,958 9, 210, 325 986, 746 1,004, 501 17,755 15, 537 October 7, 240,602 2,147, 616 9,388, 218 1,005, 706 1,023, 669 17, 963 15,020 November 7,485,692 2,110,070 9, 595,762 1,036, 442 1,047,662 11,220 11,363 December 7,443, 855 1,875, 518 9, 319, 3731,023,966 1,053,272 29,306 41,277 Reserve city banks:- January __ 6,078, 506 4,895,031 10,973,537 754,701 766, 577 11,876 188,509 February 5,944,171 4,915,187 1.0,859,358 741,872 754,605 12,733 138, 278 March 5, 974, 268 4, 924,174 10,898,442 745,151 758,635 13,484 73,015 April 6,071,316 4,950,803 11,022,119 755,658 767,483 11,825 42,379 May 6,026, 272 4,995,024 11,021,296 752,477 767, 845 15,368 44,099 June 6,075, 234 5,019,439 11,094,673 758,106 776,391 18,285 44,482 July 6,169, 048 5,057,832 11,226, 880 768.639 789, 522 20,883 36,118 August 6,133,922 5,074,901 11,208,823 765.640 784,845 19, 205 26,783 September 6,136,204 5,137,371 11,273, 575 767,743 784,155 16,412 28,451 October 6,073, 218 5,163,129 11,236,347 762,217 777,708 15,491 37,602 November 6,100, 794 5,308, 556 11,409,350 769,336 786,666 17,330 50,658 December 5, 991,468 5, 242, 87911, 234, 347 756,433 771, 743 15, 310 102,744 Country banks: January 5, 729, 468 6, 579,471 12,308,939 597,868 620,808 22,940 236,901 February 5, 676, 627 6, 605,167 12,281,794 594,974 618,078 23,104 209,590 March 5,647, 813 6, 642,412 12,290, 225 594,077 619,658 25, 581 175, 640 April 5,670,760 6,659,945 12,330,705 596,207 621, 373 25,166 159, 949 May 5, 654, 527 6,663,376 12,317,903 595,718 619,113 23,395 171, 511 June 5, 603, 358 6, 672, 861 12, 276,219 592,420 617,521 25,101 177, 509 July. 5, 558, 225 12, 227,094 589,142 614, 908 25, 766 177, 530 August 5, 466, 342 6, 673, 92012,140,262 582,801 608, 420 25,619 165, 643 September 5,466,682 6, 692, 58812,159, 270 583,444 25,045 144, 480 October 5, 412, 224 6, 688,955 12,101,179 579,524 605,199 25,675 143, 542 November... 5, 372,147 6, 637,001 12, 009,148 575,160 597,323 22,163 158, 252 December 5, 225,127 6, 535, 34911,760,476 561,819 589, 978 28,159 193,073 1 Subject to reserve requirements of 13 per cent for central reserve city banks, 10 per cent for reserve city banks, and 7 per cent for banks outside central reserve and reserve cities (so-called country banks). 2 Subject to reserve requirements of 3 per cent. Back figures.—See Annual Report for 1929 (Table 46). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

97 ALL MEMBER BANKS No. 49.—ALL MEMBER BANKS—RESERVE BALANCES, BY MONTHS, 1919-1930 [Monthly averages of daily figures. In millions of dollars] Month 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 January 1,635 1,883 1,773 1,707 1,918 1,911 2,194 2,236 2,243 2,426 2,387 2,349 February ._ L, 612 1,858 1,728 1,689 L, 901 1,892 2,159 2,208 2,212 2,368 2,357 2,305 March L, 652 1,878 1,694 1,711 L, 873 1,915 2,137 2,198 2,240 2,365 2,337 2,330 April L, 656 1,870 1,665 1,733 L,869 1,905 2,123 2,183 2,248 2,396 2,308 2,350 May L, 686 1,853 1,657 1,783 1,874 1,922 2,132 2,199 2,262 2,388 2,296 2,356 June. 1,696 1,853 1,664 1,820 1,867 2,001 2,141 2,206 2,301 2,355 2,314 2,392 July L, 719 1,840 1,639 1,812 1,867 2,046 2,160 2,212 2,289 2,324 2,334 2,417 August L, 740 1,807 1,621 1,799 1,835 2,072 2,151 2,201 2,283 2,274 2,322 2.392 September 1,769 1,817 1,629 1,811 1,848 2,120 2,161 2,211 2,300 2,314 2.335 2,397 October L, 793 1,815 1,652 1,836 1,864 2,141 2,203 2,219 2,326 2,332 2,386 2,407 November 1,837 1,782 1,663 1,825 1,875 2,164 2,221 2,214 2,373 2,352 2,521 2,433 December :,820 1,758 1, 673 1,840 1,882 2,182 2,219 2,218 2,399 2,367 2,395 2,415 Backf igures.—See Annual Report for 1929 (Table 47). No. 50.—ALL MEMBER BANKS—BORROWINGS AT FEDERAL RESERVE BANKS, BY MONTHS, 1914-1930 [Monthly averages of daily figures. In millions of dollars] Month 1914 1915 1916 1917 1918 1919 1920 1921 January 21 612 1,731 2,136 2,523 February._ 18 529 1,765 2,297 2,400 March 19 537 1,863 2,377 2,297 April 25 751 1,920 2,431 2,129 May 43 897 1,976 2,536 1,959 June 155 939 1,840 2,456 1,811 July _. 151 1,162 1,864 2,513 1,719 August 134 1,333 1,798 2,596 1,548 September- 181 1,604 1,776 2,667 1,442 October 320 1,683 2,068 2,780 1,371 November. 563 1,760 2,140 2,762 1,228 December.. 1,765 2,115 2,718 1,180 Month 1922 1923 1924 1925 1926 1927 1928 1929 1930 January __ 962 547 574 267 520 481 465 859 501 February-. 769 608 514 340 526 393 471 378 March 638 628 476 390 557 425 513 274 April 572 658 489 403 537 447 661 1,004 231 May 479 705 433 397 511 473 836 956 247 June 437 741 370 437 473 429 1,019 978 251 July 425 315 480 549 454 1,090 1,096 226 August 396 268 545 555 409 1,061 1,043 214 September 417 845 262 594 640 422 1,064 969 ]89 October— 486 873 240 619 663 424 975 885 196 November. 623 799 228 597 615 415 897 953 221 December. 660 771 301 529 1,013 803 338 I NOTE.—Figures include a small amount of borrowing by Mermediate credit banks, etc. (See Table 13.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

98 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD REPORTING MEMBER BANKS IN LEADING CITIES No. 51.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, RE- SERVES, AND BORROWINGS AT FEDERAL RESERVE BANKS, 1919-1930. [Monthly averages of weekly figures. In millions of dollars. 1930 basis] Month 1920 1924 1925 1926 1927 1929 1930 Loans and investments: January 14,228 16,682 16,447 14,694 16,233 16,321 18,502 19,358 19,686 21,493 22,320 22,368 February. _ 14,307 16,652 16,176 14,688 16,226 16, 319 18,439 19,323 19,558 21,315 22, 263 22,083 March 14,628 16,853 16, 066 14,617 16,a68 16,443 18,523 19,420 19,989 21,502 22,472 22,352 April 14,609 16,983 15,778 14,688 16,443 16,565 18,554 19,392 20,068 21,944 22,388 22,657 May 14,936 16,992 15,511 14, 968 16, 487 16,618 18,527 19,502 20,273 22,148 22,113 22,662 June 15,019 16,971 15,364 15,242 16,428 16,816 18,641 19,596 20,506 22,063 22, 231 23, 024 July 14,863 16, 92115,065 15,254 16,404 17,131 18,722 19,561 20,404 22,006 22,479 23,101 August 15, 26416,907 14,921 15,373 16, 201 17,446 18, 775 19,594. 20,357 21,809 22,465 23,128 September. 15,627 17,057 14,902 15,446 16,305 17, 757 18, 978 19,775 20,653i 21,871 22,646 23,220 October 16,011 17,192 14,942115,732 16,381 18, 217 19, 239 19,784 20,918| 21,938 23,124 23,409 November. 16,193 16,868 14,837| 15,816 16,287 18,357 19,331 19,673 21,112! 21,983 23,663 23,455 December.. 16,387 16,737 14,842| 16,006 16,318 18,465 19,413 19,742 21,328! 22,189 23,012 23,117 Total loans: ! January 9, 92512, 74313,167! 11,204 11,560 11,988 13,179 14,200 14,538 15,441 16,300 16,821 February. _ 9,765 12,888 12,928! 11,025 11,597 12,004 13,232 14,140 14,347'15,223 16, 260 16, 542 March 9,825 13, 24212, 785; 1.1,034 11,796 12,138 13,320 14,172 14,536 15,370 16,491 16, 746 April 9,846 13,344 12, 506 11,002 11,919 12, 212 13,297 14,140 14,564 15,805 16,464 16, 901 May 10,026'13,352 12,272, 11,045 12,002 12,172 13,294 14,160 14,666 15,960 16, 277 16,825 June 10,656 13,426 12,036 11,024 11,905 12, 249 13,375 14,235 14,849 15,871 16, 480 17, 048 July 10,806 13,507 11, 853 10,9591 11,912 12,400 13,474 14, 241 14,781 15,892 16, 950 16,906 August.... 10, 97313,518 11,689 10,942j 11,792 12,594 13,557 14,313 14,825 15,825 16,969! 16, 838 September. 11,342 13,691 11,672111,066! 11,930 12, 725 13,797 14,498 15,066 15,898 17,197| 16,859 October... 11,901 13,896 11,664' 11,342112,029 12,955 14,057 14,555 15,258 16,003 17,706| 16, 834 November. 12,193 13,578 11,494! 11,400 11,975 12,969 14,181 14,487 15,308 16,096 18,041| 16,673 December.. 12,412 13,428 11,420] 11,445111, 985 13,087 14,248 14,578 15,396 16,253 17,444 16, 332 I Loans on securities: January C1) 4,737 4,036! 3,711 4,194 4,252 5,008 5,874 5,915 6,811 7,506j 7,794 February-- 0 4,504 3,9611 3,666 4,119 4,173 5,056 5,767 5,780 6,606 7,522 7,671 March C1) 4,454 3, 921 3,641| 4,116 4,181 5,122 5,652 5,867 6,586 7,580 7,964 April C1) 4,390 3.849j 3,657 4,173 4,218 5,098 5,576 5,930 6,924 7,392 8,270 May 0) 4,303 3,842; 3,825 4,220 4,221 5,167 5,592 6,017 7,075 7,218 8,312 June 0) 4,249 3,805 3,909 4,157 4,310 5,289 5,693 6,220 6,962 7,332 8,560 July 0) 4,181 3,740 3,895 4,150 4,479 5,370 5,743 6,191 6,955 7,716 8,391 A Se u p g t u e s m t ber. 8 4 4 , , 0 1 8 1 7 1 3 3 , , 6 6 7 6 0 7 3 3 , , 8 9 6 0 2 8 3 4 , , 9 0 9 2 4 8 4 4 , , 5 6 8 7 2 5 5 5 , , 3 4 7 4 7 7 5 5 , , 7 8 7 4 1 7 6 6 , , 2 2 0 9 1 8 6 6 , , 8 8 1 4 6 0 7 7, , 6 5 5 7 4 8 8,383 October 4,155 3,717 4,060 4,052 4,726 5,558 5,741 6,403 6,874 8,098 8,237 November. 0) 4,072 3,721 4,103 4,056 4,740 5,696 5,633 6,492 7,082 8,249 7,897 December. 0) 4,111 3,765 4,123 4,142 4,917 5,843 5,771 6,676 7,198 7,968 7,776 4,703 All other loans: January.... 0) 8,006' 9,131 7,493 7,366 7,736 8,170 8,326 8,623 8,631 8,794 9,027 February.. C1) 8,384 8,967 *T,359 7,477 7,831 8,176 8,373 8,566 8,617 8,737 8,871 March C1) 8,788 7,393 7,680 7,956 8,198 8,521 8,670 8,784 8,911 8,781 April C1) 8,954 8,657 7,345 7,746 7,994 8,199 8,564 8,634 9,073 8,631 May C1) 9,050 8,430 7,219 7,781 7,951 8,127 8,568 8,649 8,884 9,059 8,513 June 8 9,177 8,232 7,115 7,748 7,939 8,085 8,541 8,628 8,909 9,149 8,487 July 9,326 8,113 7,064 7,761 7,921 8,103 8,498 8,590 8,937 9,234 8,515 August 9,431 8,018 7,080 7,798 8,012 8,180 8,542 8,624 9,009 9,390 8,488 September 0) 9,580 8,005 7,158 7,903 8,049 8,349 8,652 8,768 9,059 9,543 8,476 October 0) 9,741 7,947 7,282 7,977 8,229 8,500 8,814 8,855 9,130 9,608 8,597 November 0) 9,507 7,773 7,297 7,920 8,229 8,485 8,854 8,816 9,014 9,792 8,776 December. J 0) 9,317 7,655 7,322 7~~ 8,170 8,405 8,807 8,720 9,055 9,476 8,557 7,710 Investments: ! January i 4,303 3,939 3,490 4,673 4,333 5,323 5,158 5,148 6,052 6,021 5,548 February.-! 4,542 3,764 3,663 4,629 4,315 5,206 5,182 5,212 6,091 6,004 5,541 March ' 4,803 3,611 3,583 4,572 4,306 5,204 5,248 5,453 6,133 5,981 5,607 April - 4,763 3,639 3,686 4,523 4,352 5,258 5,252 5,504 6,140 5,924 5,756 May i 4,910 3,640 3,923 4,485 4,445 5,233 5,342 5,608 6,188 5,836 5,837 June I 4,363 3,546 4,218 4,522 4,567 5,266 5,362 5,658 6,193 5,751 5,977 July 4,05' 3,414 4,295 4,492 4,731 5,248 5,320 5,623 6,114 5,529 6,194 August 4,290 3,390 4,431 4,409 4,851 5,217 5,281 5,531 5,984 5,496 6,291 September . 4,285 3,366 4,379 4,375 5,032 5,181 5,277 5,587 5,973 5,449 6,361 October 4,110 3,296 4,390 4,352 5,262 5,181 5,228 5,660 5,934 5,418 6,575 November _ 4,000 3, 290| 4,416 4,312 5,389 5,151 5,186 5,804 5,888 5,623 6,782 December.. 3, 9751 3, 308i 4,561 4,333 5,378 5,165 5,165 5,932 5,936 5, 567! 6,784 1 Not available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

99 REPORTING MEMBER BANKS IN LEADING CITIES No. 51.—REPORTING MEMBER BANKS—LOANS, INVESTMENTS, DEPOSITS, RE- SERVES, AND BORROWINGS AT FEDERAL RESERVE BANKS, 1919-1930—Con. [Monthly averages of weekly figures. In millions of dollars. 1930 basis] Month 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 Net demand plus time deposits: January 11,667 14,038 13,766 13,409 15,312 15,434 18,094 18, 59718,921 20,542 20,48720, 096 February.. 11,573 14,021 13,527 13,339 15,294 15,450 17,977 18,468 18,771 20,286 20,270 19, 835 March 11,819 14,200 13,356 13,529 15,212 15,509 17,872 18,414 19,023 20,268 20,12720,067 April 11,876 14,183| 13,161 13, 766 15,204 15,577 17,828 18,392 19,054 20,576 19,86920,460 May 12,199 14,1821 13,221 14,170 15,230 15, 75917,913 18,544 19,292 20,652 19,76820, 511 June 12,165 14,208 13,144 14,487 15,196 16,164 18,007 18, 71519,577 20,373 19,74020,842 July 12,408 14,200 12,976 14,627 15,204 16,603 18,119 18,677 19,483 20,107 19,91821,078 August 12, 728 14,059 12,857 14,602 14,973 16,967 18,049 18,641 19,504 19,733 19,84821,050 September. 12,975 14,093 12,901 14,680 15,026 17,262 18,12218,746 19,609 19,880 19,99021,093 October 13,261 14,100 13,093 14,852 15,155 17,689 18,386 18,727 19,757 20,059 20,47221,284 November. 13,617 13,861 13,236 14, 796 15,228 17,945 18,558 18,690 20,112 20,217 21,131 21,452 December. . 13, 567 13,666 13,256 14,866 15,210 18,039 18,530 18,800 20,291 20,241 20,501 21,060 Net demand deposits: January 10,055 11, 58110,821 10,367 11,561 11,299 13,203 13,195 13,067 13,982 13, 593 13, 224 February. _ 9,915 11,487 10,588 10,280 11, 522 11,273 13,020 13,019 12,883 13,673 13,391 12,974 March 10,122 11,605 10,409 10,391 11,284 11,282 12,866 12,917 13,034 13, 57913,288 13,093 April 10,142 11,551 10,206 10,587 11,214 11,299 12, 74212,830 13,033 13,814 13,076 13, 391 May 10,446 11,511 10,199 10,919 11,222 11,424 12, 74212,953 13,179 13,760 12,992 13, 393 June 10,400 11,504 10,187 11,138 11,176 11,773 12,805 13,074 13,414 13,450 13,001 13,631 July 10,611 11,471 10,042 11,113 11,198 12,114 12,922 12,964 13,306 13,246 13,245 13, 720 August 10,807 11,304 9,927 11,007 10,968 12,396 12,831 12,900 13,276 12,902 13,120 13, 651 September. 10,991 11,291 9,958 11,076 10,991 12,630 12,892 13,024 13,340 13,049 13,180 13,622 October 11,147 11,271 10,112 11,228 11,107 12,937 13,085 13,015 13,412 13,216 13,633 13, 735 November. 11,337 11,030 10,215 11,121 11,170 13,080 13,185 12,938 13, 70313,369 14,363 13,934 December.. 11,251 10,828 10,247 11,146 11,127 13,184 13,173 13,032 lg, 87213,399 13,774 13,839 Time deposits: January 1,612 2,457 2,945 3,042 3,751 4,135 4,891 5,402 5,854 6,560 6,872 February. - 1,658 2,534 2,939 3,059 3,772 4,177 4,957 5,449 5,888 6,613 6,879 6,861 March 1,697 2,595 2,947 3,138 3,928 4,227 5,006 5,497 5,989 6,689 6,839 6,974 April 1,734 2,632 2,955 3,179 3,990 4,278 5,086 5,562 6,021 6,762 6,793 7,069 May 1,753 2,671 3,022 3,251 4,008 4,335 5,171 5,591 6,113 6,892 6,776 7,118 June 1,765 2,704 2,957 3,349 4,020 4,391 5,202 5,641 6,163 6,739 7,211 J A u u ly gust l 1 f , 7 9 9 2 7 1 2 2 , , 7 7 2 5 9 5 2 2 , , 9 9 3 3 4 0 3 3 , , 5 5 1 9 4 5 4 4 , ,0 0 0 0 6 5 4 4 , , 4 5 8 7 9 1 5 5 , , 1 2 9 1 7 8 5 5, , 7 7 4 1 1 3 6 6 , , 1 2 7 2 7 8 6 6 , , 8 8 6 3 1 1 6 6 , , 7 6 2 7 8 3 7 7, , 3 3 9 58 9 September. 1,""' 2,802 2,943 3,604 4,035 4,632 5,230 5,722 6,269 6,831 6,810 7,471 N O De o c c t v o e e m b m e b b r e . e r . r . - . . 2 2 2 , , , 1 3 2 1 1 8 4 6 0 2 2 2 , , , 8 8 8 2 3 3 9 8 1 2 3 3 , , , 0 9 0 2 8 0 1 1 9 3 3 3 , , , 6 6 7 2 7 2 4 5 0 4 4 4 , , , 0 0 0 4 5 8 8 8 3 4 4 4 , , , 7 8 8 5 6 5 2 5 5 5 5 5 , , , 3 3 3 0 5 7 1 7 3 5 5 5 , , , 7 7 7 1 6 5 2 8 2 6 6 6, , , 4 4 3 1 0 4 9 9 5 6 6 6 , , , 8 8 84 4 4 2 8 3 6 6 6, , , 7 8 7 2 3 6 ' 9 8 7 7 7 , , , 2 5 5 2 1 4 1 8 9 Reserve balances: January 1,295 1,431 1,330 1,289 1,44' 1,433 1,663 1,672 1,672 1,799 1,77 1,718 February.. 1,240| 1,406 1,305 1,299 1,434 1,407 1,656 1,652 1,639 1,758 1,734 1,704 March 1,260 1,411 1,273 1,318 1,404 1,435 1,627 1,649 1,665 1,726 1,715 1,697 April 1,271 1,420 1,254 1,324 1,397 1,439 1,608 1,639 1,653 1,783 1,672 1,740 May 1,295 1,402 1,256 1,381 1,408 1,449 1,612 1,647 1,691 1,771 1,666 1,745 June 1, 2881 1,402 1,296 1,405 1,400 1,539 1,622 1,664 1,744 1,740 1,672 1,781 July 1,306| 1,405 1,241 1,414 1,402 1,558 1,627 1,649 1,690 1,723 1,703 1,813 August 1, 336 1,375 1,212 1,370 1,366 1,595 1,640 1,640 1,702 1,672 1,"" 1,791 September. 1,327! 1,384 1,224 1,35" 1,360 1,645 1,639 1,674 1,703 1,699 1,703 1,813 October 1,383 1,370 1, 2461 1,412 1,381 1,644 l,65f 1,627 1,719 1,707 1, 775| 1,824 November. 1,426 1,334 1,258 1,379 1,382 1,638 1,66' 1,631 1,761 1,714 1,869! 1,829 December. 1"~ 1,330 1,266 1,383 1,382 1,691 1,685 1,680 1,781 1,748 1,743 1,834 Borrowings at Federal reserve banks: January 1,306 1,803 1,947 514 343 34' 108 318 299 314 663 247 February.. 1,400 2,019 1,878 374 402 285 218 351 233 338 659| 174 March 1,449 2,053 1,792 264 41' 245 234 372 268 362 740! 81 April 1,443 2,069 1,601 215 420 258 229 329 270 488 7251 71 May 1,497 2,085 1,421 161 455 185 191 290 302 644 661 59 June 1,361 1,981 1,267 130 466 131 238 252 268 796 670 53 July 1,454 2,005 1,167 151 552 89 264 315 272 854 801 53 August 1,395 2,072 996 115 516 61 351 335 256 806 717 43 September, 1,: 2,117 906 145 545 83 403 428 26' 822 706| 44 N D O o e c c v to e e m b m e b b r e e .. r r . . 1 1 1 , , , 7 7 6 3 6 6 9 5 0 2 2 2 , , , 1 2 2 3 0 2 : 0 2 6 8 7 5 9 2 4 7 3 ! 3 2 37 9 4 6 2 0 1 ! I 5 5 5 0 8 0 2 5 5 14 8 7 5 6 5 4 4 4 1 9 3 1 1 7 i 4 4 44 4 2 ' 0 2 3 2 2 8 8 7 8 3 6 6 7 7 8 9 3 1 9 6 4 6 6 9 3 5 0 4 5 1 5 7 4 6 1 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

100 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 52.—REPORTING MEMBER BANKS1—PRINCIPAL [In millions of dollars] Total Loans Investment3 loans Date or month and i m nv e e n s t t s - Total O r n it s ie ec s u- All other Total se U cu .S ri . ties se O cu th r e it r ies 1927 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. 2— —- 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 2,904 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 5,548 2,588 2,961 Mar. 30— — 20,105 14, 565 5,910 8,655 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._ 20, 316 14, 669 6,039 8,630 5,647 2.659 2,988 May 25 - 20,298 14,639 6,003 8,636 5,660 2,640 3,020 June 1 20,432 14,838 6,204 8,634 5,594 2,533 3,061 June 8 20,365 14,792 6,179 8,612 5,573 2,538 3,035 June 15 - 20,642 14,853 6,230 8,623 5,789 2,713 3,076 June 22 20, 503 14,829 6,210 8,619 5,674 2,599 3,076 June 29 20, 589 14,931 6,279 8,653 5,658 2,570 3,088 July 6 20, 584 14,925 6,291 8,634 5,659 2,561 3,098 July 13 20,370 14, 742 6,152 8,590 5,628 2,552 3,076 July 20 20,332 14,734 6,148 8,585 5,598 2.551 3,047 July 27 20,331 14, 726 6,175 8,551 5,605 2,549 3,056 Aug. 3 20,346 14, 794 6,213 8,582 5,552 2,516 3,035 Aug. 10.— 20,384 14,835 6,202 8,633 5,549 2,510 3,038 Aug. 17-— 20,347 14,831 6,206 8,625 5,516 2,494 3,023 Aug. 24.. 20, 271 14,763 6,157 8,606 5,508 2,492 3,016 Aug. 31- - 20,436 14,903 6,229 8,674 5,532 2,500 3,033 Sept. 7-.. 20,426 14,902 6,208 8,694 5,524 2,485 3,039 Sept. 14 20, 614 15,071 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-_ 20,952 15,302 6,457 8,845 5,650 2,610 3,040 Oct. 12. 20, 912 15,251 6,375 8,877 5,661 2,617 3,044 Oct. 19 20,936 15, 262 6,381 8,881 5,674 2,627 3,047 Oct. 26 20,871 15. 218 6,401 8,817 5,654 2,614 3,040 Nov. 2 20,886 15,233 6,418 8,815 5,652 2,590 3,062 Nov. 9 20,963 15,288 6,422 8,865 5,675 2,585 3,091 Nov. 16 21,204 15,324 6,528 8,796 5,880 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 8,801 5,912 2,800 3,112 Dec. 7 21,250 15,350 6,580 8.770 5,900 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 8,703 5,979 2,866 3,114 Dec. 28 21,409 15,476 6,798 8,677 5,934 2,802 3,132 Monthly averages: January 19,686 14,538 5,915 8,623 5,148 2,339 2,809 February 19, 558 14,347 5,780 8,566 5,212 2,374 2,838 March 19,989 14,536 5,867 8,670 5,453 2,518 2,935 April 20,068 14,564 5,930 8,634 5,504 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 2,591 3,067 July 20.404 14, 781 6,191 8,590 5,623 2,553 3,069 August 20, 357 14,825 6,201 8,624 5,531 2,502 3,029 September 20, 653 15,066 6.298 8,768 5,587 2,546 3,041 October 20,918 15, 258 6,403 8,855 5,660 2,617 3,043 November 21,112 15,308 6,492 8,816 5,804 2,710 3,094 December 21,328 15, 396 6,676 8,720 5,932 2,820 3,111 i Comparable weekly figures for earlier years are available back to 1919, but have not been published; they may be had on request. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

101 REPORTING MEMBER BANKS IN LEADING CITIES RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930 [In millions of dollars] Reserve Net demand plus time deposits Borrowwith Cash in Govern- ings at Federal ment Federal Date or month r b e a se n r k v s e Total N m et a 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. 2T. 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 19,601 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. 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 13,396 6,343 194 254 Oct. 26. 1,727 257 19,807 13,473 6,334 179 232 Nov. 2. 1,750 286 19,939 13,548 6,391 120 310 Nov. 9. 1,819 262 20,189 13,779 6,410 315 233 Nov. 16. 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. 1,763 288 20,320 13,919 6,401 6 304 Dec. 7. 1,780 313 20,399 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. 1,639 265 18,771 12,883 5,888 107 233 February. 1,665 260 19,023 13,034 5,989 231 268 March. 1,653 263 19,054 13,033 6,021 221 270 April. 1,691 260 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

102 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 52.—REPORTING MEMBER BANKS—PRINCIPAL [In millions of dollars] Total Loans Investments loans Date or month and i m nv e e n st t - s Total c O ur n i tie se s - All other Total T c J u . r S it . i e s s e- O cu th ri e ti r e s s e- 1928 Jan. 4.. 21,629 15,674 7,022 8,652 5,955 2,824 3,131 Jan. 11 21,548 15,487 6,806 8,682 6,061 2,923 3,138 Jan. 18 21,447 15,372 6,742 8,630 6,075 2,965 3,110 Jan. 25 21,348 15,232 6,673 8,559 6,116 3,021 3,095 Feb. 1 21,419 15,316 6,769 8,547 6,103 3,018 3,085 Feb. 8__ 21,333 15,247 6,634 8,614 3,010 3,075 Feb. 15.. 21,292 15,208 6,566 8,642 6,084 2,998 3,087 Feb. 21 21,200 15,125 6,510 8,615 6,075 2,985 3,091 Feb. 29 21,328 15,221 6,554 6,107 2,945 3,161 Mar. 7 21,309 15,231 6,510 8,721 6,078 2,935 3,143 Mar. 14 21,494 15,407 6,614 8,793 6,088 2,924 3,164 Mar. 21..._ 21,555 15,350 6,545 8,805 6,205 3,030 3,175 Mar. 28. 21,651 15,491 6,675 8,815 6,160 3,175 Apr. 4—- 21,972 15,831 6,953 8,878 6,141 2,972 3,170 Apr. ll._- 21,930 15,808 6,875 8,933 6,122 2,980 3,142 Apr. 18 21,958 15,808 6,920 8,888 6,149 3,001 3,148 Apr. 25- 21,918 15, 771 6,949 6,147 2,999 3,148 May 2—_ 22,162 15,997 7,092 8,904 6,166 3,021 3,145 May 9 22,122 15,947 7,048 8,899 6,174 3,022 3,152 May 16- 22,171 15,990 7,106 8,885 6,181 3,014 3,167 May 23. 22,124 15,911 7,035 8,877 6,213 3,029 3,184 May 29 22,160 15, 954 7,097 8,857 6,206 2,994 3,212 June 6--. --- 22,085 15,910 7,052 8,859 6,175 3,010 3,164 June 13 22,115 15,933 6,997 8,936 6,182 3,011 3,171 June 20 _. 22,049 15,834 6,911 8,922 6,215 3,045 3,170 June 27 22,005 15,806 6,888 8,918 6,199 3,014 3,185 July 3 - 22,314 16,143 7,151 8,992 6,170 3,007 3,164 July 11 - 22,032 15,892 7,003 8,889 6,140 3,005 3,135 July 18 -— 21,890 15.796 6,854 8,943 6,094 2,980 3,114 July 25 21,790 15, 737 6,815 8,922 6,054 2,952 3,102 Aug. 1 22,030 15,917 6,954 8,963 6,113 3,036 3,077 Aug. 8— 21,846 15,863 6,860 9,003 2,935 3,047 Aug. 15 21,765 15.797 6,781 9,016 5,968 2,919 3,049 Aug. 22,... 21,686 15,756 6,745 9,011 5,930 2,904 3,026 Aug. 29 .._ 21,716 15,791 6,740 9,051 5,925 2,903 3,022 Sept. 5 21,833 15,906 6,860 9,046 5,927 2,921 3,007 Sept. 12 21, 787 15,879 6,814 9,065 5,908 2,922 2,986 Sept. 19 21,980 15,941 6,874 9,066 6,039 3,056 2,984 Sept. 26 21,884 15,868 6,811 9,058 6,016 3,027 2,989 Oct. 3 21,926 16,011 6,865 9,147 5,914 2,987 2,927 Oct. 10 21,838 15, 967 6,807 9,160 5,871 2,975 2,896 Oct. 17 21.972 15.989 6,856 9,133 5,983 3,076 2,907 Oct. 24 _ 21, 924 15,972 6,882 9,089 5,953 3,055 2,898 Oct. 31 - 22,028 16,077 6,958 9,119 5,951 3,027 2,924 Nov. 7. - 21,991 16,096 7,031 9,065 5,895 3,009 2,886 Nov. 14 21,875 15.990 6,947 9,043 5,885 2,993 2,892 Nov. 21 21.973 16,097 7,104 8,993 5,876 2,972 2,904 Nov. 28 22,094 16,200 7,246 8,954 5,894 2,977 2,917 Dec. 5.--. 22,190 16,291 7,282 9,009 5,899 2,978 2,921 Dec. 12 22,068 16,188 7,150 9,038 5,880 2,961 2,919 Dec. 19 22,233 16,248 7,129 9,119 5,985 3,059 2,926 Dec. 26 22,264 16,284 7,230 9,054 3,051 2,929 Monthly average: January. _ 21,493 15,441 6,811 8,631 6,052 2,933 3,119 February 21,315 15,223 6,606 8,617 6,091 2,991 3,100 March 21,502 15,370 6,586 8,784 6,133 2,969 3,164 April.. 21,944 15,805 6,924 6,140 2,988 3,152 May. 22,148 15,960 7,075 6,188 3,016 3,172 June 22,063 15,871 6,962 6,193 3,020 3,173 July 22,006 15,892 6,955 8,937 6,114 2,986 3,129 August 21,809 15,825 6,816 9,009 5,984 2,940 3,044 September 21,871 15,898 6,840 9,059 5,973 2,981 2,991 October 21,938 16,003 6,874 9,130 5,934 3,024 2,910 November 21,983 16,096 7,082 9,014 5,888 2,988 2,900 December 22,189 16,253 7,198 9,055 5,936 3,013 2,924 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 103 RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930—Continued [In millions of dollars] Reserve Net demand plus time deposits Borrowwith Govern- ings at Federal Cash in ment Federal Date or month reserve Total Net Time deposits reserve banks demand banks 1928 1,846 294 20,714 14,176 6,538 164 392 Jan. 4. 1,826 282 20,631 14,077 6,554 124 313 Jan. 11. 1,798 255 20,484 13,924 6,560 89 291 Jan. 18. 1,728 248 20,336 13,749 6,587 81 261 Jan. 25. 1,777 238 20, 449 13,855 6,594 77 299 Feb. 1. 1,773 251 20, 281 13, 655 6,626 43 339 Feb. 8. 1,755 254 20,313 13, 692 6,621 35 360 Feb. 15. 1,737 245 20, 076 13,470 6,606 35 336 Feb. 21. 1,749 242 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 July 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 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 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 Dec. 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 6,923 107 796 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. 33454—31- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

104 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 52.—REPORTING MEMBER BANKS—PRINCIPAL [In millions of dollars] Total Loans Investments loans Date or month and i m nv e e n s t t s - Total On r it s i e e c s u- Total se U cu .S r . ities se O cu th ri e t r ies 1929 Jan. 2. 22,735 16,803 7,818 8,985 5,931 3,007 2,925 Jan. 9 -. 22,300 16,329 7,440 8,889 5,971 3,050 2,921 Jan.16 22,263 16.186 7,461 8,725 6,077 3,120 2,957 Jan. 23 - - 22,131 16,060 7,364 8,696 6,071 3,116 2.954 Jan. 30 22.174 16,121 7,446 8,675 6,053 3,101 2,952 Feb. 6 22,295 16,254 7,558 8,696 6,041 3,103 2,938 Feb. 13 22, 240 16, 230 7,515 8,715 6,010 3,084 2,926 Feb. 20 22,180 16,189 7,444 8,745 5,991 3,067 2,925 Feb. 27.. 22,338 16,366 7,573 8,793 5,972 3,042 2,930 Mar. 6. 22, 383 16,425 7,573 8,852 5,958 3,058 2,901 Mar. 13 '. 22, 382 16.430 7,511 8,918 5,953 3.036 2,917 Mar. 20 22, 581 16, 552 7,642 8,910 3,113 2,915 Mar. 27... 22, 543 16, 557 7,592 8,965 3,086 2,900 Apr. 3 22, 561 16, 583 7,516 9,068 5,978 3,075 2,902 Apr. 10 22,393 16,455 7,380 9,076 5,938 3,024 2,914 Apr. 17 22, 340 16.431 7,353 9,078 5,909 3,020 2,890 Apr. 24 -i---. 22, 259 16,388 7,319 9,068 5,871 3,002 2,868 May 1 22, 313 16,438 7,371 9,067 5,875 2,997 2,878 May8 22, 094 16, 257 7,241 9,016 5,836 2,979 2,858 May 15 22,156 16, 301 7,221 9,079 5,855 2,972 2,883 May 22 22,005 16.187 7,144 9,043 5,818 2,951 2,867 May 29 22,000 16,202 7,112 9,090 5,798 2,902 June 5 22,115 16,337 7,197 9,140 5,779 2,916 2,862 June 12 _... 22,104 16, 364 7,209 9,155 5,740 2,906 2,835 June 19 22, 298 16, 543 7,382 9,161 5,755 2,935 2,820 June 26 22, 407 16, 678 7,539 9,139 5,729 2,895 2,834 July3___. 22, 485 16, 925 7,761 9,164 5,560 2,759 2,800 July 10 22,434 16.906 7,704 9,202 5,528 2,740 2,789 July 17.— 22, 409 16, 892 7,644 9,248 5,518 2,742 2,775 July 24... 22, 459 16, 970 7,683 9,287 5,490 2,723 2,766 July 31...- 22,606 17,058 7,787 9,270 5,549 2,747 2,802 Aug. 7 22, 581 17,044 7,715 9,329 5,537 2,732 2,805 Aug. 14 22,450 16,943 7,573 9,370 5,507 2,734 2,774 Aug. 21 22,423 16,938 7, 510 9,428 5,485 2,723 2,762 Aug. 28 22,405 16,950 7,515 9,434 5,456 2,707 2,748 Sept. 4 22, 591 17,150 7,632 9,518 5,441 2,699 2,741 Sept. 11 22, 570 17,142 7,578 9,564 5,429 2,694 2,735 Sept. 18 22,742 17,254 7,686 9,567 5,489 2,719 2,770 Sept. 25 22,682 17,244 7,720 9,524 5,438 2,680 2,757 Oct. 2 22,829 17, 428 7,828 9,600 5,401 2,660 2,741 Oct. 9 22,673 17,269 7,687 9,582 5,403 2,656 2,747 Oct. 16 22,794 17,397 7,875 9,522 5,397 2,652 2,745 Oct. 23 22,895 17.500 7,920 9,580 5,395 2,654 2,740 Oct. 30 24,431 18,934 9,179 9,755 5,496 2,682 2,814 Nov. 6 24,073 8.746 9,743 5,584 2,750 2,834 Nov. 13.... 23,716 18,115 9,746 5,601 2,748 2,854 Nov. 20 23,512 17.861 7,991 9,871 5,650 2,784 2,867 Nov. 27 23,353 17,698 7,889 9,809 5,655 2,808 2,847 Dec. 4 23,142 17,538 7,889 9,649 5,604 2,755 2,849 Dec. 11 - 22,922 17.375 7,818 9,557 5,547 2,719 2,828 Dec. 18 22,942 17,356 7,898 9,458 5,587 2,743 2,844 Dec. 24.. 22,890 17,305 7,931 9,374 5,585 2,710 2,876 Dec. 31 23,163 17,649 8,304 9,344 5,514 2,593 2,921 Monthly averages: January 22,320 16,300 7,506 8,794 6,021 3,079 2,942 February 22,263 16,260 7,522 8,737 6,004 3,074 2,930 March - 22,472 16,491 7,580 8,911 5,981 3,073 2,908 April 16,464 7,392 9,073 5,924 3,030 2,893 May 22,113 16,277 7,218 9,059 5,836 2,959 2,878 June 22,231 16,480 7,332 9,149 5,751 2,913 2,838 July 22,479 16,950 7,716 9,234 5,529 2,742 2,787 August 22,465 16,969 7,578 9,390 5,496 2,724 2,772 September 22,646 17,197 7,654 9,543 5,449 2,751 October 23,124 17,706 8,098 9,608 5,418 2,661 2,757 November 18,041 8,249 9,792 2,772 2,850 December 23,012 17,444 7,968 9,476 5,567 2,704 2,864 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 105 RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930—Continued [In millions of dollars] Reserve Net demand plus time deposits Borrowwith Cash in Govern- ings at Federal ment Federal Date or month r b es a e n r k v s e vault Total de N m e a t nd Time deposits r b e a se n r k v s e 1929 1,859 292 20,895 13,983 6,912 167 930 Jan. 2. 1,765 271 20,504 13,608 6,896 111 655 Jan. 9. 1,771 242 20,496 13,611 6,885 90 598 Jan. 16. 1,730 244 20,251 13,366 6,885 83 554 Jan. 23. 1,759 244 20,288 13,395 6,893 84 580 Jan. 30. 1,751 237 20,306 13,415 6,891 50 619 Feb. 6. 1,740 261 20,384 13,505 6,879 43 669 Feb. 13. 1,700 253 20,126 13,259 6,867 43 637 Feb. 20. 1,746 246 20,266 13,387 6,879 36 712 Feb. 27. 1,716 238 20,179 13,308 6,871 6 756 Mar. 6. 1,726 245 20, 253 13,398 6,855 6 716 Mar. 13. 1,715 235 20,086 13,281 6,805 305 711 Mar. 20. 1,706 243 19,991 13,164 6,827 305 779 Mar. 27. 1,688 240 19,987 13,157 6,830 289 766 Apr. 3. 1,672 238 19,841 13,052 6,789 258 706 Apr. 10. 1,671 227 19,897 13,118 6,779 165 729 Apr. 17 1,658 235 19,752 12,977 6,775 148 698 Apr. 24 1,702 223 19,994 13, 234 6,760 143 703 May 1. 1,682 237 19, 757 12,986 6,771 108 684 May 8 1,682 227 19,934 13,139 6,795 105 626 May 15. 1,647 235 19,699 12,810 6,789 99 614 May 22. 1,617 242 19,556 12,791 6,765 99 680 May 29. 1,679 238 19,700 12,939 6,761 58 663 June 5. 1,682 236 19,817 13,108 6,709 46 628 June 12. 1,657 227 19,664 12,940 6,724 260 674 June 19. 1,670 232 19, 781 13,018 6,763 260 715 June 26. 1,724 243 19,972 13,293 6,679 193 826 July 3. 1,677 275 19,824 13,170 6,654 154 850 July 10. 1,699 256 19,867 13,219 6,648 152 790 July 17. 1,710 243 19,820 13,146 6,674 88 771 July 24. 1,707 236 20,107 13,395 6,712 85 767 July 31. 1,675 241 19,942 13,240 6,702 49 770 Aug. 7. 1,674 245 19,912 13,191 6,721 44 726 Aug. 14. 1,650 236 19,785 13,065 6,720 44 687 Aug. 21. 1,663 238 19,751 12,985 6,766 37 685 Aug. 28. 1,675 240 19, 992 13,184 6,808 11 761 Sept. 4. 1,707 246 20,082 13.283 6,799 702 Sept. 11. 1,721 236 19,984 13,179 6,805 227 673 Sept. 18. 1,708 236 19,901 13,072 6,829 227 688 Sept. 25. 1,727 230 20,120 13,295 6,825 227 672 Oct. 2. 1,686 248 19,843 13,040 6,803 209 612 Oct. 9. 1,747 230 20, 221 13,406 6,815 159 605 Oct. 16. 1,725 238 20,197 13,314 6,883 131 554 Oct. 23. 1,990 269 21,978 15,110 6,868 127 729 Oct. 30. 1,904 276 21,600 14,765 6,835 83 730 Nov. 6. 1,952 277 21,326 14,570 6,756 77 688 Nov. 13. 1,875 259 20,949 14,227 6,722 58 597 Nov. 20. 1,744 265 20, 650 13,890 6,760 50 603 Nov. 27. 1,766 261 20,436 13,714 6,722 33 580 Dec. 4. 1,747 280 20,474 13,776 6,698 27 493 Dec. 11. 1,774 296 20,378 13,676 6,702 113 468 Dec. 18. 1,703 291 20,312 13,589 6,723 92 502 Dec. 24. 1,726 262 20,905 14,118 6,787 82 405 Dec. 31. Monthly averages: 1,777 259 20,487 13,593 6,894 107 663 January. 1,734 249 20,270 13,391 6,879 43 659 February. 1,715 240 20,127 13,288 6,839 155 740 March. 1,672 235 19,869 13,076 6,793 215 725 April. 1,666 233 19,768 12,992 6,776 111 661 May. 1,672 233 19,740 13,001 6,739 156 670 June. 1,703 251 19,918 13,245 6,673 134 801 July. 1,665 240 19,848 13,120 6,728 44 717 August. 1,703 239 19,990 13,180 6,810 116 706 September. 1,775 243 20,472 13,633 6,839 171 634 October. 1,869 269 21,131 14,363 6,768 67 655 November. 1,743 278 20, 501 13,774 6,727 69 490 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

106 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 52.—REPORTING MEMBER BANKS—PRINCIPAL [In millions of dollars] Total Loans Investments loans Date or month and investments Total On secu- All other Total U. S. se- Other serities curities curities 1930 Jan. 8_— 22,600 17,041 7,906 9,134 5,559 2,692 2,867 Jan. 15.... 22,412 r 16, 858 7,854 9,005 5,554 2,724 2,830 Jan. 22... 22,256 I'16, 707 7,733 8,974 5,549 2,737 2,812 Jan. 29... 22,205 | 16, 676 7,681 8,995 5,529 2,722 2,807 Feb. 5... 22,132 I 16, 630 7,692 8,938 5,503 2,725 2,778 Feb. 12.. 22,106 ! 16, 593 7,682 8,911 5,513 2,744 2,769 Feb. 19.. 22,090 I 16,519 7,669 8,850 5,571 2,808 2, 763 Feb. 26.. 22,003 ji 16, 428 7,641 8,787 5,575 2,801 2,774 Mar. 5... 22,101 16, 547 7,737 8,810 5,554 2,766 2,788 Mar. 12.. 22, 232 16,704 7,883 8,821 5,528 2,753 2,775 Mar. 19.. 22, 514 16, 847 8,054 8,793 5,667 2,861 2,806 Mar. 26.. 22, 563 16,885 8,183 8,702 5,678 2,844 2,834 Apr. 2 22,633 16,913 8,244 8,669 5,719 2,848 2,872 Apr. 9 22.560 16,829 8,163 8,666 5,731 2,838 2,893 Apr. 16 22,592 16,845 8,238 8,607 5,747 2,849 2,898 Apr. 23 22,746 16,955 8,326 8,629 5,791 2,873 2,917 Apr. 30 22, 753 16,964 8,381 8,583 5,789 2,852 2,937 May 7 22, 645 16,852 8,259 8,593 5,792 2,837 2,955 May 14 22,616 16, 806 8,246 8,560 5,811 2,831 2,980 May 21 J 22,661 16,806 8,322 8,484 5,855 2,842 3,013 May 28 | 22,726 16, 837 8,421 8,416 5,889 2,811 3,078 June 4-_ 22,957 17,038 8,598 8,441 5,919 2,799 3,120 June 11. 22,882 : 16,966 8,557 8,409 5,917 2,776 3,140 June 18. 23,118 17,128 8,608 8,520 5,989 2,849 3,140 June 25. 23,140 17,059 8,479 8,580 6,081 2,877 3,204 July 2 23, 080 16,960 8,435 8,525 6,120 2,851 3,269 July9 22,987 16,869 8, 359 8,509 6,118 2,861 3,257 July 16 -_ 23,106 16,906 8,397 8,508 6,200 2,915 3,285 July 23 23, 096 16,852 8,372 8,480 6,243 2,930 3,313 July 30 23,236 16,945 8,391 8,554 6,291 2,932 3,359 Aug. 6 23,163 16,906 8,409 8,497 6,257 2,877 3,380 Aug. 13 23, 092 16, 857 8,349 8,507 6,235 2,860 3,375 Aug. 20 23,136 16, 795 8,289 8,507 6,340 2,922 3,418 Aug. 27 23,122 16, 793 8,350 8,443 6,329 2,909 3,420 Sept. 3 23,168 16,830 8,357 8,473 6,338 2,910 3,428 Sept. 10 23,165 16,812 8,324 8,488 6,353 2,915 3,438 Sept. 17 23, 250 16, 881 8,396 8,484 6,369 2,932 3,437 Sept. 24 23, 297 16,912 8,454 8,458 6,385 2,933 3,452 Oct. 1 23, 467 17,013 8,476 8,538 6,454 2,946 3,508 Oct. 8 23, 297 16, 813 8,260 8, 552 6,485 2,970 3, 515 Oct. 15 23, 404 16, 864 8,250 8,613 6,541 2,996 3,544 Oct. 22 23, 383 16, 716 8,135 8,581 6,667 3, 060 3, 607 Oct. 29 23,495 16,764 8,065 8,699 6,731 3,050 3,681 Nov. 5 23, 511 16, 806 8,085 8,721 6,704 3,042 3,662 Nov. 12 23, 435 16,668 7,904 8,763 6, 767 3,063 3,704 Nov. 19 23, 494 16, 690 7,838 8,852 6,804 3,105 3, 699 Nov. 26 23, 381 16, 527 7,761 8,766 6,854 3,093 3,761 Dec. 3 23, 316 16,516 7,769 8,747 6,800 3,095 3,706 Dec. 10 23, 242 16, 426 7,769 8,656 6,816 3,144 3, 672 Dec. 17 23, 084 16, 258 7,747 8,511 6,827 3,214 3,612 Dec. 24 22, 985 16, 200 7,779 8,421 6,785 3,156 3,629 Dec. 31 22, 956 16, 263 7,814 8,449 6,693 2, 992 3,701 Monthly averages: January 22, 368 16, 821 7,794 9,027 5,548 2,719 2,829 February 22, 083 16, 542 7,671 8,871 5,541 2,770 2,771 March 22, 352 16, 746 7,964 8,781 5,607 2,806 2,801 April 22, 657 16, 901 8,270 8,631 5,756 2,852 2,903 May 22, 662 16, 825 8,312 8,513 5,837 2,830 3.006 June 23, 024 17,048 8,560 8,487 5,977 2,825 3,151 July 23,101 16,906 8, 391 8,515 6,194 2,898 3,297 August 23,128 16, 838 8,349 8,488 6,291 2,892 3,398 September 23, 220 16, 859 8,383 8,476 6, 361 2,923 3,439 October 23, 409 16, 834 8,237 8,597 6, 575 3,004 3,571 November 23. 455 16, 673 7,897 8, 776 6,782 3,076 3,707 December 23.117 16, 332 7,776 8,557 6, 784 3,120 3, 664 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 107 RESOURCES AND LIABILITIES, BY WEEKS, 1927-1930—Continued [In millions of dollars] Net demand plus time R F r b e w e e a s d s e i n e e t r k h r r v v s a e e l C v a a s u h l i t n Total r N tf m t e n a t n n s d d i e ts - Time m G p e o o n v s t e i r t d s n e - - B F r i b e n o e a s g d r e n r s e o r k r v a w s a e t l - Date or month 1930 1,727 257 20,225 13,418 6,807 46 344 Jan. 8. 1,725 238 20, 245 13,392 6,853 39 230 Jan. 15. 1,730 230 20,050 13,135 6,915 36 220 Jan. 22. 1,691 232 19,862 12,949 6,913 36 193 Jan. 29. 1,702 222 19,873 13, 010 6,863 18 173 Feb. 5. 1,688 225 19,834 12,978 6,856 9 185 Feb. 12. 1,695 232 19,817 12,966 6,851 4 186 Feb. 19. 1,731 221 19,817 12,943 6,874 5 152 Feb. 26. 1,683 218 19,827 12,940 6,887 128 Mar. 5. 1,733 222 20,100 13,152 6,948 96 Mar. 12. 1,653 212 20,051 13,076 6,975 280 51 Mar. 19. 1,719 212 20,290 13, 205 7,085 238 47 Mar. 26. 1, 738 207 20,416 13,329 7,087 217 82 Apr. 2. 1 1,714 216 20, 310 13,208 7,102 173 75 Apr. 9. 1,746 207 20,451 13,383 7,068 141 65 Apr. 16. 1,727 221 20,489 13,455 7,034 108 58 Apr. 23. 1,774 214 20, 636 13, 581 7,055 96 74 Apr. 30. 1,727 218 20,406 13,327 7,079 51 79 May 7. 1,755 225 20, 567 13,467 7,100 51 47 May 14. 1,757 213 20, 521 13,389 7,132 51 43 May 21. 1,742 235 20, 547 13,388 7,159 51 67 May 28. 1,775 221 20,794 13,633 7,161 28 67 June 4. 1,783 223 20,868 13,686 7,182 20 48 June 11. 1,788 215 20,866 13, 638 7,228 213 44 June 18. 1,779 216 20,839 13, 566 7,273 212 54 June 25. 1,792 230 21,055 13, 740 7,315 193 84 July 2. 1,780 230 20,913 13, 587 7,326 147 67 July 9. 1,840 212 21,183 13, 784 7,399 134 45 July 16. 1,824 211 21,092 13,692 7,400 120 32 July 23. 1,818 215 21,150 13, 798 7,352 109 35 July 30. 1,752 205 21,021 13, 664 7,357 65 51 Aug. 6. 1,789 214 21,099 13, 705 7,394 46 38 Aug. 13. 1,807 203 21,035 13,627 7,408 46 44 Aug. 20. 1,814 211 21,045 13, 606 7,439 46 40 Aug. 27. 1,786 207 21,100 13,629 7,471 16 79 Sept. 3. 1,817 216 21,178 13,700 7,478 37 Sept. 10. 1,836 204 21,066 13,618 7,448 182 28 Sept. 17. 1,816 208 21,031 13, 542 7,489 182 33 Sept. 24. 1,787 201 21,346 13,812 7,534 181 44 Oct. 1. 1,802 212 21,098 13, 557 7,541 147 39 Oct. 8. 1,827 209 21,302 13,767 7,535 142 76 Oct. 15. 1,827 212 21,270 13,710 7,560 122 58 Oct. 22. 1,879 216 21,407 13,830 7,577 113 62 Oct. 29. 1,791 223 21,376 13,829 7,547 71 78 Nov. 5. 1,881 229 21,602 14, 049 7,552 48 61 Nov. 12. 1,830 222 21,460 13,974 7,486 34 62 Nov. 19. 1,814 237 21,369 13,882 7,487 34 84 Nov. 26. 1,816 230 21,280 13,908 7,372 99 Dec. 3. 1,849 269 21,269 13,914 7,355 106 Dec. 10. 1,854 293 20,951 13,771 7,180 248 160 Dec. 17. 1,772 318 20,729 13, 603 7,126 202 250 Dec. 24. 1,878 287 21,069 13,999 7,070 204 89 Dec. 31. Monthly averages: 1,718 239 20, 096 13,224 6,872 39 247 January. 1,704 225 19,835 12,974 6,861 9 174 February. 1,697 216 20,067 13,093 6,974 129 81 March. 1,740 213 20,460 13,391 7,069 147 71 April. 1,745 223 20, 511 13,393 7,118 51 59 May. 1,781 219 20,842 13, 631 7,211 118 53 June. 1,813 220 21,078 13, 720 7,358 141 53 July. 1,791 208 21,050 13, 651 7,399 51 43 August. 1,813 209 21,093 13, 622 7,471 95 44 September. 1,824 210 21,284 13, 735 7,549 141 56 October. 1,829 228 21, 452 13,934 7,518 46 71 November. 1,834 280 21,060 13, 839 7,221 131 141 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

108 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD No. 53.—REPORTING MEMBER BANKS IN NEW YORK CITY *— [In millions of dollars) Total Loans Investments loans Date or month and invest- On secu- U. S. se- Other sements Total rities All other Total curities curities 1927 Jan. 5 4,714 2,307 2,407 1,644 854 790 I Jan. 12 6,256 4,586 2,189 2,397 1,671 843 828 Jan. 19 6,117 4,472 2,102 2,370 1,645 844 801 Jan. 26 6,090 4,434 2,073 2,361 1.656 852 804 Feb. 2 6,143 4,481 2,113 2,368 1,662 854 807 Feb. 9 6,048 4,391 2,015 2,376 1,657 855 802 Feb. 19 6,031 4,377 2,026 2,352 1,653 856 798 Feb. 23 6,045 4,379 2,036 2,344 1,665 862 804 Mar. 2 6,170 4,493 2,096 2,396 1,677 864 813 Mar. 9 8,136 4,458 2,061 2,397 1,677 872 805 Mar. 16 6,309 4,509 2,095 2,413 1,800 988 812 Mar. 23 6,300 4,542 2,087 2,454 1,758 917 841 Mar. 30 6,287 4,540 2,146 2.394 1,747 904 843 Apr. 6... 6,346 4,597 2,189 2,408 1,750 914 836 Apr. 13 6,272 4,526 2,114 2,413 1,746 914 831 Apr. 20 6,302 4,543 2,147 2,396 1,759 915 844 Apr. 27 6,334 4,556 2,176 2,381 1,777 946 831 May 4 6,433 4,646 2,244 2,402 1,787 957 830 May 11 6,406 4,599 2,176 2,423 1,807 979 828 May 18 6,435 4,607 2,203 2,404 1,827 972 855 May 25 6,420 4,594 2,178 2,415 1,826 964 862 Junel 6,578 4,789 2,356 2,433 1,789 921 869 June 8 6,528 4,695 2,274 2,421 1,832 961 871 June 15 _. 6,638 4,718 2,305 2,413 1,920 1,018 901 June 22 6,546 4,737 2,323 2,415 1,809 917 892 June 29 6,593 4,797 2,371 2,426 1,795 898 897 July 6 6,628 4,821 2,382 2.439 1,807 896 911 July 13 6,451 4,649 2,249 2,400 1,803 896 907 July 20 6,409 4,646 2,228 2,418 1,763 892 871 July 27 6,434 4,667 2,267 2,400 1,767 887 880 Aug. 3. 6,489 4,733 2,314 2,419 1,756 874 Aug. 10 6,460 4,714 2,280 2,434 1,746 863 Aug. 17 6,425 4,695 2,260 2,435 1,731 887 844 Aug. 24 6,383 4,664 2,228 2,436 1,719 829 Aug. 31 6,506 4,783 2,295 2,488 1,723 833 Sept. 7 6, 505 4,801 2,270 2,531 1,704 879 825 Sept. 14_ 6,572 4,873 2,330 2,543 1,699 879 820 Sept. 21 6,604 4,899 2,306 2,593 1,704 895 810 Sept. 28__ 6,618 4,927 2,348 2,578 1,691 896 795 Oct. 5 6,708 5,035 2,448 2,587 1,673 882 791 Oct. 12_ 6,625 4,947 2,352 2,596 1,678 884 794 Oct. 19 6,622 4,944 2,338 2,607 1,678 887 790 Oct. 26 6,613 4,937 2,342 2,595 1,676 892 784 Nov. 2 6,649 4,967 2,386 2,581 1,682 892 790 Nov. 9.. 6,706 5,009 2,409 2,601 1,696 900 796 Nov. 16 6,809 5,061 2,491 2,570 1,747 943 804 Nov. 23 6,793 5,023 2,463 2,560 1,770 970 800 Nov. 30 6,916 5,131 2,574 2,558 1,785 971 814 Dec. 7 6,857 5,063 2,518 2,546 1,793 982 811 Dec. 14 6,836 5,042 2,538 2,504 1,794 992 802 Dec. 21 6,939 5,141 2,642 2,499 1,798 994 803 Dec. 28 6,994 5,209 2,724 2,485 1,784 974 810 Monthly averages: January 6,205 4,552 2,168 2,384 1,654 848 806 February 6,067 4,407 2,047 2,360 1,659 857 803 March 6,240 4,508 2,097 2,411 1,732 909 823 April 6,313 4,556 2,156 2,399 1,758 922 835 May 6,423 4,612 2,201 2,411 1,812 968 844 June 6,576 4,747 2,326 2,422 1,829 943 886 July 6,481 4,696 2,281 2,414 1,785 893 892 August 6,453 4,718 2,275 2,442 1.735 887 848 September 6,575 4,875 2, 313 2,562 1,700 887 813 October 6,642 4,966 2,370 2,596 1,676 886 790 November 6,775 5,039 2,465 2,574 1,736 935 801 December 6,906 5,114 2,605 2,509 1,792 986 807 i Comparable weekly figures for earlier years are available back to 1919, but have not been published; they may be had on request. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

109 KEPORTING MEMBER BANKS IN LEADING CITIES PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS, 1927-1930 [In millions of dollars] Net demand plus time Reserve deoosits Borrow- Fe w d i e t r h al Cash in m G e o n v t e r d n e - - F in e g d s e r a a t l Date or month reserve Net de- posits reserve bank Total mand Time bank 1927 776 67 6,197 5,275 922 43 130 Jan. 5. 723 64 6,114 5,191 923 34 89 Jan. 12. 712 59 5,979 5,067 912 34 56 Jan. 19. 659 59 5,890 4,976 914 34 28 Jan. 26. 667 57 5,958 5,032 926 34 45 Feb. 2. 686 60 5,857 4,930 927 29 70 Feb. 9. 716 56 5,855 4,920 935 29 71 Feb. 16. 659 61 5,789 4,858 931 29 54 Feb. 23. 672 56 5,934 5,019 915 29 74 Mar. 2. 681 58 5,902 4,982 920 26 82 Mar. 9. 690 54 6,069 5,129 940 100 20 Mar. 16. 751 56 6,030 5,102 928 90 106 Mar. 23. 755 59 6,052 5,109 943 87 84 Mar. 30. 643 57 5,996 5,060 936 81 72 Apr. 6. 725 58 5,996 5,036 960 75 107 Apr. 13. 675 55 6,016 5,062 954 51 58 Apr. 20. 708 59 6,057 5,107 950 48 77 Apr. 27. 741 58 6,123 5,172 951 45 126 May 4. 708 59 6,104 5,154 950 37 104 May 11. 730 56 6,165 5,197 968 28 78 May 18. 702 58 6,150 5,193 957 26 53 May 25. 758 56 6,386 5,415 971 21 84 June 1. 761 59 6,332 5,292 1,040 13 52 June 8. 815 55 6,545 5,535 1,010 29 25 June 15. 745 56 6,306 5,288 1,018 27 50 June 22. 800 59 6,430 5,419 1,011 18 47 June 29. 716 61 6,354 5,348 1,006 15 85 July 6. 736 59 6,230 5,255 975 12 77 July 13. 741 55 6>218 5,230 988 11 38 July 20. 721 57 6,225 5,225 1,000 11 37 July 27. 753 56 6,274 5,261 1,013 10 79 Aug. 3. 752 57 6,264 5,246 1,018 6 82 Aug. 10. 682 54 6,188 5,175 1,013 4 68 Aug. 17. 726 55 6,129 5,122 1,007 4 87 Aug. 24. 708 55 6,265 5,263 1,002 4 55 Aug. 31. 727 59 6,212 5,209 1,003 1 132 Sept. 7. 714 60 6,327 5,325 1,002 1 59 Sept. 14. 716 57 6,176 5,177 999 127 74 Sept. 21. 748 57 6,196 5,185 1,011 127 96 Sept. 28. 715 60 6,277 5,269 1,008 124 124 Oct. 5. 694 60 6,222 5,203 1,019 124 71 Oct. 12. 751 57 6,297 5,286 1,011 92 47 Oct. 19. 752 60 6,281 5,261 1,020 71 56 Oct. 26. 737 58 6,321 5,286 1,035 65 28 Nov. 2. 780 65 6,386 5,336 1,050 44 107 Nov. 9. 792 58 6,519 5,462 1,057 75 65 Nov. 16. 777 67 6,521 5,452 1,069 26 68 Nov. 23. 755 60 6,679 5,614 1,065 3 97 Nov. 30. 756 63 6,590 5,563 1,027 1 85 Dec. 7. 757 74 6,618 5,596 1,022 1 79 Dec. 14. 777 85 6,620 5,578 1,042 57 140 Dec. 21. 786 71 6,590 5,544 1,046 57 203 Dec. 28. Monthly averages: 717 62 6,045 5,127 918 36 76 January. 682 59 5,864 4,935 929 30 60 February. 710 56 5,997 5,068 929 66 73 March. 688 57 6,016 5,066 950 64 78 April. 720 58 6,135 5,179 956 34 90 May. 776 57 6,400 5,390 1,010 22 .51 June. 728 58 6,257 5,265 992 12 59 July. 724 55 6,223 5,213 1, 010 6 74 August. 726 58 6,228 5,224 1,004 64 90 September. 728 59 6,270 5,255 1,015 103 75 October. 768 62 6, 485 5,430 1,055 43 73 November. 769 73 6,604 5,570 1,034 29 127 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

110 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 53.—REPOKTING MEMBEK BANKS IN NEW YORK CITY— [In millions of dollars] Total Loans Investments loans Date or month and inm ve e s n t t - s Total O r n i ti s e e s cu- All other Total U cu . r S it . i e s s e-O c t u h r e it r i e s s e- 1928 Jan. 4.. 7,199 5,403 2,915 2,489 1,795 979 816 Jan. 11 7,048 5,175 2,685 2,489 1,874 1,048 826 Jan. 18 _ 6,947 5,081 2,609 2,472 1,867 1,060 807 Jan. 25 6,967 5,061 2,632 2,429 1,906 1,104 802 Feb. 1 5,092 2,691 2,401 1,896 1,098 798 Feb. 8 4,985 2,537 2,448 1,884 1,097 787 Feb. 15 6,838 4,959 2,498 2,461 1,878 1,087 791 Feb. 22.. 6,756 4,895 2,428 2,467 1,860 1,085 776 Feb. 29 6,905 4,984 2,481 2,503 1,921 1,079 842 Mar. 7... 6,836 4,921 2,402 2,519 1,915 1,086 829 Mar. 14. 6,954 5,032 2,475 2,557 1,922 1,088 835 Mar. 21. 6.880 4,981 2,395 2,585 1,900 1,085 814 Mar. 28 7,001 5,121 2,524 2,597 1,880 1,067 813 Apr. 4. 7,235 5,374 2.733 2,641 1,860 1,060 800 Apr. 11 7,108 5,262 2,607 2,655 1,846 1,056 789 Apr. 18 7,120 5,270 2,643 2,626 1,850 1, 059 791 Apr. 25 7,145 5,305 2,716 2,589 1,840 1,048 792 May 2 7,319 5,470 2,851 2,619 1,849 1,064 785 May 9 _ 7,277 5,402 2,782 2,619 1,876 1,082 794 May 16 7,301 5,425 2,812 2,612 1,876 1,080 797 May 23 7,249 5,363 2,726 2,637 1,886 1,077 809 May 29 7,265 5,380 2,763 2,617 1,885 1,075 811 June 6__. 7,215 5.329 2,707 2,622 1,886 1,077 808 June 13 7,189 5,289 2,638 2,651 1,900 1,088 812 June 20 _.. 7,154 5,209 2,571 2,637 1,945 1,131 814 June 27_ 7,105 5,166 2,537 2,630 1,939 1,116 823 July3 7,411 5,494 2,788 2,706 1,917 1,115 801 July 11.. 7,194 5,271 2,666 2,605 1,923 1,120 804 July 18 7,050 5,161 2, 533 2,627 1,889 1,099 791 July 25 7,025 5,154 2,516 2,638 1,870 1,086 784 Aug. 1 7,136 5,284 2,646 2,638 1,852 1,081 771 Aug. 8 6,992 5,226 2,548 2,679 1,766 1,001 765 Aug. 15 6,887 5,129 2,471 2,658 1,758 995 764 Aug. 22 6,883 5,134 2,470 2,663 1,749 996 753 Aug. 29 6,914 5,157 2,454 2,703 1,758 1,002 756 Sept. 5 7,038 5,266 2,576 2,690 1,772 1,025 747 Sept. 12 6,991 5,203 2,520 2,684 1,788 1,042 746 Sept. 19 7,063 5,247 2,577 2,669 1,816 1,071 745 Sept. 26 6,995 5,169 2,502 2,668 1,825 1,072 754 Oct. 3 7,039 5,259 2,572 2,686 1,780 1,069 711 Oct. 10 6,966 5,198 2,501 2,697 1,768 1,069 698 Oct. 17__ 7,010 5,186 2,551 2,635 1,824 1,115 710 Oct. 24 6,999 5,185 2,567 2,618 1,814 1,107 707 Oct. 31 7,050 5,220 2,606 2,614 1,830 1,101 730 Nov. 7 7,059 5,256 2,674 2,582 1,802 1,099 703 Nov. 14 .._ 6,946 5,144 2,571 2,573 1,802 1,084 718 Nov. 21 7.050 5,267 2,716 2,550 1,784 1,075 709 Nov. 28 7,167 5,354 2,813 2,541 1,814 1,083 731 Dec. 5 7,226 5,410 2,852 2,558 1,815 1,087 729 Dec. 12 7,057 5,252 2,685 2,566 1,805 1,085 720 Dec. 19 7,108 5,296 2,671 2,625 1,812 1,096 716 Dec. 26-._ 7,216 5,399 2,780 2,619 1,817 1,097 720 Monthly averages: January 7,040 5,180 2,710 2,470 1,860 1,048 813 February 6,871 4,983 2,527 2,456 1,888 1,089 799 March 6,918 5,014 2,449 2,565 1,904 1,081 823 April 7,152 5,303 2,675 2,628 1,849 1,056 793 May -_ 7,282 5,408 2,787 2,621 1,874 1,075 799 June 7,166 5,248 2,613 2,635 1,918 1,103 814 July 7,170 5,270 ! 2,626 2,644 1,900 1,105 795 August... 6,962 5,186 i 2,518 2,66S 1,777 1.015 762 September 7,022 5,221 i 2,544 2,678 1,801 1,053 748 October 7,013 5,209 2,559 2,650 1,803 1,092 711 November 7,056 5,255 I 2,694 2, 562 1,800 1,085 715 December 7,152 5,339 2,747 2,592 1,812 1,091 721 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

111 REPORTING MEMBER BANKS IN LEADING CITIES PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS, 1927-1930—Continued [In millions of dollars] Net demand plus time Reserve deposits Borrow- F w ed i e th ral Cash in m G e o n v t e d rn e - - F in e g d s e r a a t l Date or month re b s a e n r k ve vault Total N m et a n d d e- Time posits re b s a e n r k ve 1928 823 66 6,925 5,822 1,103 49 123 Jan. 4. 797 60 6,731 5,636 1,095 37 117 Jan. 11. 783 53 6,674 5,577 1,097 27 51 Jan. 18. 723 52 6,599 5,497 1,102 24 84 Jan. 25. 778 48 6,704 5,607 1,097 23 75 Feb. 1. 768 52 6,546 5,436 1,110 13 94 Feb. 8. 751 53 6,517 5,422 1,095 11 123 Feb. 15. 728 56 6,411 5,328 1,083 11 55 Feb. 22. 746 51 6,644 5,563 1,081 11 42 Feb. 29. 747 52 6,544 5,482 1,062 3 80 Mar. 7. 730 52 6,637 5,577 1,060 3 67 Mar. 14. 717 50 6,443 5,359 1,084 85 44 Mar. 21. 757 50 6,565 5,451 1,114 85 108 Mar. 28. 767 51 6,752 5,636 1,116 81 162 Apr. 4. 801 52 6,718 5,609 1,109 70 155 Apr. 11. 758 49 6,743 5,626 1,117 50 91 Apr. 18. 781 51 6,697 5,559 1,138 35 172 Apr. 25. 797 49 6,860 5,695 1,165 32 180 May 2. 779 52 6,760 5,575 1,185 21 229 May 9. 756 49 6,769 5,573 1,196 15 233 May 16. 759 52 6,704 5,494 1,210 10 230 May 23. 743 54 6,705 5,495 1,210 10 237 May 29. 761 52 6,689 5,489 1,200 263 June 6. 748 53 6,657 5,458 1,199 297 June 13. 736 51 6,517 5,300 1,217 61 269 June 20. 752 54 6,496 5,271 1,225 58 256 June 27. 752 57 6,698 5,513 1,185 47 316 July 3. 745 56 6,447 5,256 1,191 35 342 July 11. 713 53 6,343 5,181 1,162 27 213 July 18. 709 52 6,301 5,143 1,158 21 223 July 25. 759 50 6,411 5,252 1,159 50 255 Aug. 1. 689 52 6,178 5,022 1,156 35 244 Aug. 8. 695 51 6,185 5,013 1,172 32 188 Aug. 15. 692 52 6,144 4,986 1,158 25 229 Aug. 22. 691 52 6,195 5,033 1,162 20 198 Aug. 29. 686 53 6,282 5,110 1,172 16 260 Sept. 5. 729 54 6,294 5,129 1,165 11 270 Sept. 12. 743 52 6,258 5,078 1,180 56 305 Sept. 19. 705 53 6,235 5,050 1,185 45 229 Sept. 26. 719 52 6,307 5,123 1,184 27 256 Oct. 3. 697 62 6,298 5,105 1,193 17 236 Oct. 10. 723 51 6,341 5,122 1,219 58 201 Oct. 17. 701 53 6,357 5,138 1,219 43 157 Oct. 24. 759 53 6,490 5,273 1,217 41 160 Oct. 31. 712 61 6,416 5,210 1,206 28 203 Nov. 7. 707 56 6,413 5,198 1,215 22 108 Nov. 14. 722 53 6,499 5,294 1,205 22 92 Nov. 21. 745 64 6,560 5,355 1,205 17 224 Nov. 28. 726 56 6,592 5,395 1,197 6 244 Dec. 5. 779 63 6,486 5,294 1,192 1 220 Dec. 12. 742 74 6,443 5,247 1,196 68 139 Dec. 19. 761 76 6,490 5,283 1,207 53 281 Dec. 26. Monthly averages: 781 58 6,732 5,633 1,099 34 94 January. 754 52 6,564 5,471 1,093 14 78 February. 738 51 6,547 5,467 1,080 44 75 March. 777 51 6,727 5,607 1,120 59 145 April. a 767 51 6,759 5,566 1,193 18 222 May. 749 53 6,589 5,379 1,210 30 271 June, 730 55 6,447 5,273 1,174 32 274 July. 705 52 6,222 5,061 1,161 32 223 August. 716 53 6,267 5,092 1,175 32 266 September. 720 54 6,358 5,152 1,206 37 202 October. 721 58 6,472 5,264 1,208 22 157 November. 752 67 6,503 5,305 1,198 32 221 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

112 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 53.—REPORTING MEMBER BANKS IN NEW YORK GITY- [In millions of dollars] Total Loans Investments loans and inm ve e s n t t - s Total On ri t s i e e c s u- All other Total U cu . r S it . i e se s - O c t u h r e it r i e se s - 1929 Jan.2 . . _ 7,670 5,838 3,259 2,579 1,832 1,100 731 Jan. 9 7,255 5, 404 2,889 2,515 1,851 1,123 728 Jan. 16 7,161 5,251 2,837 2,414 1,910 1,145 765 Jan. 23 7,075 5,162 2,742 2,420 1,913 1,146 767 Jan. 30 7,148 5,234 2,795 2,439 1,915 1,139 775 Feb. 6 7,227 5,321 2,857 2,464 1,905 1,140 765 Feb. 13 7,187 5,304 2,817 2,487 1,883 1,128 755 Feb. 20 7,109 5,229 2,743 2,486 1,880 1,127 753 Feb. 27 7,239 5,369 2,863 2,506 1,870 1,116 754 Mar. 6 7,270 ! 5,416 2,859 2,557 1,854 1,110 745 Mar. 13 7,209 5,348 2,749 2,599 1,860 1,089 772 Mar. 20 7,340 [ 5,449 2,833 2,616 1,892 1,122 770 Mar. 27 7,366 5,484 2,852 2,632 1,881 1,109 772 Apr. 3 7,405 5,521 2,819 2,702 1,884 1,106 778 Apr. 10 7,276 5,421 2,708 2,713 1,854 1,085 769 Apr. 17 7,252 5,398 2,682 2,716 1.854 1,089 766 Apr. 24. , . 7,253 5,410 1 2,707 2,702 1,844 1,079 765 May 1 7,332 5,476 2,777 2,699 1,856 1,074 782 May 8 7,165 1 5,314 2,647 2,667 1,852 1,075 777 May 15 7,194 5,337 2,641 2,696 1,857 1,062 795 May 22 7,120 5.294 ! 2,614 2,680 1,825 1,038 788 May 29 7,100 5,299 2,585 2,714 1,801 1,018 783 June 5 7,236 5,409 2,678 2,731 1,827 1,049 778 June 12 7,200 5,390 2,663 2,727 1,810 1,056 754 June 19 7,277 5,465 2.749 2,716 1,812 1,063 749 June 26__ 7,410 5,610 2,908 2,702 1,800 1,054 747 July 3 7,525 5,843 3,117 2,726 1,682 939 742 July 10 7,461 5,781 3,040 2,742 1,679 940 739 July 17 7,417 5,729 2,970 2,758 1,687 949 738 July 24 7,502 5,815 3,017 2,797 1,687 946 741 July 31 7,575 5,850 3,082 2,768 1,726 973 753 Aug. 7 7,512 5,775 2,961 2,813 1,737 958 779 Aug. 14 7,381 5,653 2,822 2,830 1, 728 962 766 Aug. 21 7,354 5,637 2,775 2,862 1,717 955 762 Aug. 28 7,383 5,686 2,819 2,867 1,697 946 751 Sept. 4 7,546 5,853 2,944 2,908 1,693 943 750 Sept. 11 7,467 5,770 2,846 2,924 1,697 945 752 Sept. 18 7,542 5,814 2,894 2,920 1,729 950 779 Sept. 25 „ 7,474 5,777 2,883 2,894 1,697 927 769 Oct. 2 . 7,563 5,876 2,947 2,929 1,687 921 766 Oct. 9 7,464 5,756 2,836 2,921 1,708 932 775 Oct. 16 7,526 5,817 2,964 2,853 1,709 940 769 Oct. 23 7,619 5,899 3,005 2,894 1,721 947 773 Oct. 30 9, 010 7.191 4,205 2,986 1,819 990 829 Nov. 6 8,658 6,733 3,751 2,982 1,925 1,064 861 Nov. 13 , 8,338 6,403 3,427 2,977 1,934 1,077 857 Nov. 20 8,215 6,215 3,105 3,110 1,999 1,129 870 Nov. 27 _ 8,187 6,169 3,077 3,092 2,018 1,163 855 Dec. 4 8,035 6,047 3.073 2,974 1,989 1,127 862 Dec. 11 7,909 5,967 3,023 2,944 1,943 1,105 838 Dec. 18 7,929 5,927 3,022 2,905 2,002 1,112 890 Dec. 24 _ 7,892 5,906 3,045 2,861 1,986 1,089 897 Dec. 31 8,240 6,257 3,398 2,859 1,983 1,073 911 Monthly averages: January . _ 7,262 5,378 2,904 2, 473 1,884 1,131 753 February 7,190 5,306 2,820 2,486 1,885 1,128 757 March 7,296 5,424 2,823 2,601 1,872 1,107 765 April. _ _. . . 7,297 5,437 2,729 2,708 1,859 1,090 769 May 7,182 5,344 2,653 2,691 1,838 1 1,053 785 June - 7,281 5,468 2,749 2,719 1,812 1 1,055 757 July 7,496 5,804 3,045 2,758 1,692 | 950 743 August - _ 7,407 5,688 2,845 2,843 1,720 f 955 764 September _ 7,507 5,803 2,892 2,911 1,704 1 941 763 October 7,837 6,108 3.191 2.916 1,729 i 946 783 November.. 8,349 6,380 3,340 3,040 1,969 1 1,108 861 December 8,001 6,021 3,112 2,909 1,981 | 1,101 879 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 113 PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS, 1927-1930—Continued [In millions of dollars] Net demand plus time Reserve deposits Borrow- Fe w d i e th ral Cash in m G e o n v t e d rn e - - F in e g d s e r a a t l Date or month re b s a e n r k ve vault Total N m e a t n d d e- Time posits re b s a e n r k ve 1929 844 65 6,912 5,682 1,230 45 399 Jan. 2. 756 59 6,609 5,407 1,202 30 202 Jan. 9. 756 54 6,573 5,391 1,182 24 141 Jan. 16. 727 54 6,458 5,280 1,178 23 81 Jan. 23. 767 56 6,534 5,334 1,200 23 128 Jan. 30. 751 54 6,558 5,357 1,201 14 114 Feb. 6. 740 61 6,476 5,294 1,182 12 174 Feb. 13. 722 61 6,385 5,212 1,173 12 103 Feb. 20. 761 56 6,526 5,349 1,177 10 134 Feb. 27. 1 726 53 6,452 5,285 1,167 2 196 Mar. 6. 731 56 6,427 5,261 1,166 2 139 Mar. 13. 744 53 6,450 5,290 1,160 129 126 Mar. 20. 744 55 6,438 5,251 1,187 129 204 Mar. 27. 729 55 6,513 5,326 1,187 122 135 Apr. 3. 716 54 6,364 5,202 1,162 109 158 Apr. 10. 709 50 6,352 5,205 1,147 69 179 Apr. 17. 704 54 6,313 5,160 1,153 62 177 Apr. 24. 745 52 6,483 5,334 1,149 60 157 May 1. 724 55 6,303 5,146 1,157 46 189 May 8. 726 54 6,348 5,167 1,181 44 166 May 15. 701 55 6,239 5,070 1,169 42 111 May 22. 673 62 6,278 5,124 1,154 42 103 May 29. 728 57 6,360 5,208 1,152 24 123 June 5. 721 56 6,329 5,207 1,122 19 136 June 12. 720 51 6,291 5,145 1,146 72 170 June 19. 711 54 6,400 5,238 1,162 72 228 June 26 753 62 6,412 5,341 1,071 48 341 July 3. 740 55 6,320 5,254 1,066 38 341 July 10. 727 57 6,282 5,192 1,090 38 325 July 17. 737 53 6,308 5,203 1,105 22 305 July 24. 743 52 6,507 5,357 1,150 22 282 July 31. 703 53 6,358 5,217 1,141 12 295 Aug. 7. 703 56 6,314 5,172 1,142 11 191 Aug. 14. 700 52 6,269 5,120 1,149 11 144 Aug. 21. 702 51 6,295 5,106 1,189 9 153 Aug. 28. 717 52 6,436 5,230 1,206 3 217 Sept. 4. 734 54 6,413 5,204 1,209 159 Sept. 11. 750 50 6,416 5,193 1,223 65 142 Sept. 18. 741 52 6,370 5,130 1,240 65 147 Sept. 25. 752 52 6,535 5,279 1,256 65 63 Oct. 2. 727 56 6,361 5,106 1,255 60 46 Oct. 9. 757 51 6,535 5,270 1,265 46 49 Oct. 16. 739 54 6,555 5,298 1,257 37 41 Oct. 23. 982 76 8,108 6,851 1,257 36 170 Oct. 30. 908 83 7,824 6,588 1,236 24 135 Nov. 6. 963 77 7,611 6,369 1,242 22 40 Nov. 13. 903 70 7,420 6,183 1,237 16 33 Nov. 20. 781 71 7, 245 5,970 1,275 14 33 Nov. 27. 785 65 7,029 5,783 1,246 10 34 Dec. 4. 788 72 6,985 5,773 1,212 8 66 Dec. 11. 797 80 6,925 5,715 1,210 25 88 Dec. 18. 736 76 6,857 5,662 1,195 19 107 Dec. 24. 779 61 7,263 6,028 1,235 17 106 Dec. 31. Monthly averages: 770 58 6,618 5,419 1,199 29 190 January. 743 58 6,487 5,303 1,184 12 131 February. 736 54 6,442 5,272 1,170 65 166 March. 715 53 6,385 5,223 1,162 91 162 April. 714 56 6,330 5,168 1,162 47 145 May. 720 54 6,345 5,200 1,145 47 165 June. 740 56 6,365 5,269 1,096 33 319 July. 702 53 6,309 5,154 1,155 11 196 August. 736 52 6,409 5,189 1,220 33 166 September. 791 58 6,819 5,561 1,258 49 74 October. 889 76 7,526 6,278 1,248 19 60 November. 777 71 7,011 5,792 1,219 16 80 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

114 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 53.—REPORTING MEMBER BANKS IN NEW YORK CITY— [In millions of dollars] Total Loans Investments loans and inm ve e s n t t - s Total O r n i t s i e e c s u- All other Total U cu . r S it . i e se s - O c t u h r e it r i e s s e- 1930 Jan. 8.... 7,813 5,838 3,049 2,789 1,976 1,083 892 Jan. 15... 7,675 5,705 2,970 2,735 1,971 1,110 860 Jan. 22... 7,599 5,638 2,895 2,742 1,961 1,114 847 Jan. 29.... 7,567 5,641 2,866 2,775 1,927 1,093 834 Feb. 5.... 7,551 5,648 2,921 2,727 1,903 1,096 806 Feb. 12... 7,525 5,611 2,912 2,700 1,914 1,110 803 Feb. 19... 7,484 5,578 2,913 2,665 1,905 1,114 792 Feb. 26... 7,412 5,499 2,890 2,609 1,914 1,108 805 Mar. 5.... 7,499 5,582 2,953 2,629 1,917 1,102 815 Mar. 12... 7,595 5,700 3,065 2,635 1,895 1,097 798 Mar. 19.., 7,747 5,787 3,160 2,627 1,960 1,146 814 Mar. 26... 7,756 5,810 3,280 2,530 1,946 1,120 826 Apr. 2.... 7,850 5,894 3,393 2,501 1,956 1,118 838 Apr. 9.... 7,724 5,780 3,284 2,496 1,944 1,102 842 Apr. 16... 7,738 5,785 3,316 2,468 1,953 1,114 840 Apr. 23... 7,885 5,912 3,409 2,503 1,973 1,120 853 Apr. 30... 7,947 5,969 3,511 2,458 1,977 1,112 866 May 7... 7,840 5,870 3,409 2,461 1,971 1,099 872 May 14. _ 7,832 5,865 3,407 2,458 1,967 1,091 876 May 21.. 7,831 5,848 3,456 2,391 1,984 1,097 886 May 28- 7,903 5,928 3,565 2,363 1,975 1,078 897 June 4... 8,134 6,122 3,753 2,369 2,012 1,066 946 June ll._ 7,975 5,986 3,630 2,356 1,989 1,049 939 June 18_. 8,131 6,130 3,726 2,404 2,001 1,074 927 June 25__ 8,229 6,158 3,696 2,462 2,072 1,113 958 July 2... 8,123 6,058 3,652 2,406 2,065 1,095 969 July 9... 7,979 5,916 3,498 2,418 2,063 1,088 975 July 16.. 8,014 5,944 3,518 2,426 2,070 1,096 974 July23.. 8,070 5,952 3,537 2,415 2,119 1,110 1,008 July 30.. 8,202 6,050 3,586 2,464 2,152 1,122 1,029 Aug. 6-_. 8,136 6,036 3,632 2,404 2,099 1,079 1,020 Aug. 13.. 8,068 6,002 3,585 2,417 2,066 1,065 1,002 Aug. 20-. 8,076 5,968 3,527 2,441 2,108 1,090 1,018 Aug. 27.. 8,108 6,010 3,608 2,402 2,098 1,077 1,021 Sept. 3... 8,161 6,057 3,652 2,405 2,104 1,075 1,029 Sept. 10.. 8,041 5,933 3,523 2,409 2,109 1,083 1,026 Sept. 17.. 8,058 5,970 3,541 2,429 2,088 1,069 1,018 Sept. 24.. 8,092 6,033 3,619 2,414 2,059 1,048 1,011 Oct. 1... 8,325 6,244 3,796 2,448 2,081 1,038 1,043 Oct. 8.... 8,236 6,127 3,660 2,466 2,110 1,049 1,061 Oct. 15... 8,318 6,175 3,640 2,535 2,143 1,080 1,063 Oct. 22... 8,273 6,046 3,550 2,496 2,227 1,130 1,097 Oct. 29... 8,414 6,116 3,500 2,616 2,299 1,126 1,172 Nov. 5... 8,457 6,139 3,535 2,604 2,318 1,154 1,164 Nov. 12.. 8,363 6,022 3,377 2,644 2,341 1,151 1,191 Nov. 19.. 8,452 6,068 3,352 2,716 2,384 1,200 1,184 Nov. 26.. 8,413 5,989 3,342 2,648 2,423 1,204 1,219 Dec. 3... 8,352 5,975 3,341 2,634 2,377 1,217 1,160 Dec. 10.. 8,280 5,896 3,310 2,586 2,384 1,271 1,114 Dec. 17.. 8,003 5,706 3,248 2,457 2,297 1,236 1,061 Dec. 24.. 8,045 5,749 3,366 2,383 2,295 1,234 1,061 Dec. 31.. 8,152 5,859 3,438 2,421 2,293 1,182 1,111 Monthly averages: January 7,664 5,705 2,945 2,760 1,959 1,100 858 February 7,493 5,584 2,909 2,675 l,r" 1,107 802 March 7,649 5,720 3,115 2,605 1,929 1,116 813 April _ 7,829 5,868 3,383 2,485 1,961 1,113 848 May 7,852 5,878 3,459 2,418 1,974 1,091 883 June 8,117 6,099 3,701 2,398 2,019 1,076 943 July 8,078 5,984 3,558 2,426 2,094 1,102 991 August 8,097 6,004 3,588 2,416 2,093 1,078 1,015 September 8,088 5,998 3,584 2,415 2,090 1,069 1,021 October 8,313 6,141 3,629 2,512 2,17f 1,084 1,088 November 8,421 6,055 3,401 2,653 2,367 1,177 1,189 December 8,166 5,837 3,341 2,496 2,329 1,228 1,101 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 115 PBINCIPAL RESOURCES AND LIABILITIES BY WEEKS, 1927-1930—Continued [In millions of dollars] Net demand plus time Reserve deposits Borrow- Fe w d i e th ral C v a a s u h lt in m G e o n v t e r d n e - - F in e g d s e r a a t l Date or month reserve Net de- posits reserve bank Jldl mand Time bank 1930 744 59 6,746 5,479 1,267 9 76 Jan. 8. 764 51 6,729 5,454 1,275 8 15 Jan. 15. 746 51 6,605 5,311 1,294 7 44 Jan. 22. 729 51 6,500 5,225 1,275 7 20 Jan. 29. 747 49 6,541 5,300 1,241 4 11 Feb. 5. 742 49 6,441 5,218 1,223 2 37 Feb. 12. 743 50 6,424 5,199 1,225 1 37 Feb. 19. 782 49 6,456 5,226 1,230 1 1 Feb. 26. 723 48 6,432 5,186 1,246 2 Mar. 5. 755 48 6,571 5,276 1,295 1 Mar. 12. 713 46 6,582 5,278 1,304 99 Mar. 19. 751 47 6,671 5,320 1,351 85 Mar. 26. 758 46 6,794 5,426 1,368 77 15 Apr. 2. 752 47 6,668 5,300 1,368 61 31 Apr. 9. 758 45 6,710 5,366 1,344 50 16 Apr. 16. 745 47 6,819 5,485 1,334 38 10 Apr. 23. 782 47 6,969 5,625 1,344 33 12 Apr. 30. 741 47 6,754 5,384 1,370 18 28 May 7. 760 49 6,816 5,444 1,372 18 May 14. 765 46 6,787 5,417 1,370 18 May 21. 780 57 6,896 5,508 1,388 18 15 May 28. 784 46 7,018 5,641 1,377 10 22 June 4. 793 49 6,973 5,574 1,399 7 June 11. 784 47 7,059 5,602 1,457 71 June 18. 789 48 7,120 5,661 1,459 71 June 25. 796 56 7,097 5,659 1,438 64 July 2. 766 48 6,915 5,480 1,435 49 July 9. 812 45 7,007 5,556 1,451 45 July 16. 825 45 7,054 5,610 1,444 40 July 23. 826 47 7,145 5,708 1,437 36 July 30. 754 45 7,015 5,595 1,420 22 15 Aug. 6. 787 45 7,035 5,595 1,440 15 Aug. 13. 782 44 6,994 5,558 1,436 15 Aug. 20. 808 46 7,075 5,631 1,444 15 Aug. 27. 766 44 7,048 5,613 1,435 5 36 Sept. 3. 800 46 6,997 5,554 1,443 Sept. 10. 809 43 6,929 5,526 1,403 46 Sept. 17. 820 44 6,989 5,574 1,415 46 Sept. 24. 802 44 7,232 5,778 1,454 46 Oct. 1. 794 46 7,101 5,622 1,479 37 2 Oct. 8. 794 45 7,154 5,665 1,489 36 29 Oct. 15. 826 46 7,280 5,750 1,530 31 Oct. 22. 874 48 7,458 5,937 1,521 29 Oct. 29. 796 52 7,316 5,821 1,495 18 24 Nov. 5. 867 50 7,411 5,924 1,487 12 Nov. 12. 831 51 7,458 6,017 1,441 9 Nov. 19. 64 7,436 5,996 1,440 9 Nov. 26. 56 7,310 5,933 1,377 6 Dec. 3. 841 79 7,307 5,947 1,360 19 Dec. 10. 841 90 7,071 5,855 1,216 43 25 Dec. 17. 782 104 7,041 5,832 1,209 35 70 Dec. 24. 861 85 7,271 6,070 1,201 35 9 Dec. 31. Monthly averages: 746 53 6,645 5,367 1,278 8 39 January. 753 49 6,466 5,236 1,230 2 21 February. 736 47 6,564 5,265 1,299 46 1 March. 759 46 6,793 5,441 1,352 52 17 April. 761 50 6,813 5,438 1, 375 M8 11 May. 788 47 7,042 5,619 1,423 o9 5 June. 805 48 7,044 5,603 1,441 47 July. 783 45 7,030 5,595 1,435 17 4 August. 799 44 6,991 5,567 1,424 24 9 September. 818 46 7,245 5,750 1,495 36 6 October. 831 54 7,406 5,940 1,466 12 6 November. 826 7,201 5,928 1, 273 22 26 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

116 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 54.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY *— [In millions of dollars] Total Loans Investments Date or month lo in an v s e s a t n - d ments On se- All U. S. se- Other se- Total curities other Total curities curities 1927 Jan. 5... 13.506 10,036 3,779 6,257 3,470 1,455 2,016 Jan. 12.. 13,498 10,002 3,744 6,258 3,496 1,487 2,009 Jan.19.. 13,470 9,970 3,739 6,231 3,500 1,506 1,994 Jan.26.. 13,451 9,940 3,728 6,212 3,511 1,514 1,997 Feb. 2... 13,449 9,929 3,736 6,194 3,519 1,507 2,012 Feb. 9... 13,480 9,942 3,743 6,200 3,537 1,516 2,022 Feb. 16.. 13.507 9,932 3,725 6,207 3,575 1,527 2,048 Feb. 23.. 13, 531 9,955 3,729 6,226 3,577 1,518 2,058 Mar. 2... 13, 610 9,997 3,762 6,234 3,613 1,532 2,081 Mar. 9... 13, 639 10,019 3,756 6,262 3,621 1,522 2,099 Mar. 16.. 13,862 10,076 3,792 6,283 3,786 1,670 2,117 Mar. 23.. 13,816 10,025 3,773 6,253 3,790 1,671 2,119 Mar. 30.. 13,819 10,025 3,764 6,261 3,794 1,651 2,143 Apr. 6... 13, 767 10,011 3,743 6,267 3,757 1,652 2,105 Apr. 13- 13, 764 10,030 3,777 6,253 3,734 1,632 2,101 Apr.20.. 13,714 9,983 3,772 6,212 3,730 1,639 2,091 Apr 27.. 13, 773 10,008 3,802 6,206 3,765 1,649 2,116 May 4... 13,812 10,049 3,800 6,249 3,763 1,653 2,109 May 11- 13,828 10,060 3,805 6,255 3,768 1,660 2,108 May 18.. 13,882 10,062 3,836 6,226 3,820 1,687 2,133 May 26.. 13,879 10,045 3,825 6,220 3,834 1,676 2,158 June 1..- 13,854 10,049 3,848 6,201 3,805 1,612 2,193 June8__. 13,837 10,096 3,905 6,191 3,741 1,577 2,164 June 15.. 14,005 10.135 3,925 6,210 3,870 1,695 2,174 June22._ 13,957 10,091 6,204 3,866 1,682 2,184 June29_. 13, 997 10,134 3,908 6,226 3,863 1,672 2,191 July6... 13,956 10,104 3,909 6,194 3,853 1,665 2,188 Julyl3.. 13,918 10,093 3,903 6,190 3,825 1,656 2,169 July 20.. 13, 922 10,087 3,920 6,167 3,835 1,659 2,176 July 27.. 13,897 10,059 3,908 6,151 1,662 2,175 Aug. 3... 13,857 10,061 o,899 6,163 3,795 1,634 2,162 Aug. 10- 13,924 10,121 3,922 6,200 3,802 1,627 2,176 Aug. 17- 13,922 10.136 3,946 6,190 3,786 1,607 2 179 Aug. 24.. 13,888 10,099 3,929 6,169 3,790 1,602 2^187 Aug. 31- 13, 929 10,120 3,934 6,187 3,809 1,609 2,200 Sept. 7... 13,921 10,101 3,939 6,163 3,820 1,606 2,214 Sept. 14.. 14,042 10,199 3,985 6,214 3,843 1,616 2,227 Sept. 21.. 14,157 10,222 3,994 6,228 3,935 1,701 2,234 Sept. 28.. 14,194 10,242 4,019 6,223 3,952 1,711 2,240 Oct. 5... 14,244 10,267 4,009 6,258 3,977 1,728 2,249 Oct. 12.. 14,287 10,304 4,023 6,281 3,983 1,733 2,250 Oct. 19-. 14,314 10,318 4,043 6,274 3,996 1,739 2,257 Oct. 26... 14,258 10,281 4,059 6,222 3,977 1,722 2,256 Nov. 14,236 10,266 4,032 6,234 3,970 1,698 2,273 Nov. 9.. 14,257 10,278 4,014 6,264 3,979 1,684 2,294 Nov 14,395 10,262 4,037 6,226 4,133 1,836 2,297 Nov, 14,415 10,286 4,044 6,241 4,129 1,827 2,302 Nov 14,382 10,255 4,012 6,243 4,127 1,829 2,298 Dec. 7 14,393 10,286 4,063 6,224 4,107 1,821 2,286 Dec. 14 14,431 10,310 4,083 6,227 4,121 1,819 2,301 Dec. 21 14,448 10.266 4,063 6,204 4,181 1,871 2,310 Dec. 28.. 14,416 10.267 4,075 6,192 4,149 1,827 2,322 Monthly averages: t January 13,481 9,987 3,747 6,240 3,494 1,490 2,004 February.. 13,492 9,940 3,733 6,206 3,552 1,517 2,035 March 13,749 10,028 3,769 6,259 3,721 1,609 2,112 April.. 13,754 10,008 3,774 6,234 3,746 1,643 2,103 May 13,850 1,054 3,816 6,238 3,796 1,669 2,127 June 13,930 10,101 3,895 6,206 3,829 1,648 2,181 July 13,923 10,086 3,910 6,176 1,661 2,177 August 13,904 10,107 3,926 6,182 3,796 1,616 2,181 September 14,079 10,191 3,984 6,207 3,887 1,659 2,229 October 14,276 10,292 4,034 6,259 3,984 1,730 2,253 November 14,337 10,269 4,028 6,242 4,068 1,775 2,293 December 14,422 10,282 4,071 6,212 4,140 1,835 2,305 i Comparable weekly figures for earlier years are available back to 1919, but have not been published; they may be had on request. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 117 PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930 [In millions of dollars] Net demand plus time Reserve deposits Govern- Borrowwith Cash in ment ings at Federal vault deposits Federal Date or month reserve reserve banks Total demand Time banks 3927 968 239 12,858 7,935 4,923 112 315 Jan. 5. 954 230 12,925 7,984 4,941 86 216 Jan. 12. 954 211 12,885 7,948 4,937 86 192 Jan. 19. 942 207 12,833 7,890 4,943 86 168 Jan. 26. 979 200 12,860 7,926 4,934 86 178 Feb. 2. 944 209 12, 863 7,915 4,948 73 153 Feb. 9. 979 197 12,952 8,004 4,948 73 172 Feb. 16. 924 220 12, 952 7,946 5,006 75 189 Feb. 23. 963 199 13,025 7,946 5,079 75 205 Mar. 2. 949 210 13,029 7,941 5,088 66 185 Mar. 9. 986 198 13,133 8,095 5,038 244 169 Mar. 16. 954 204 13,011 7,960 5,051 223 203 Mar. 23. 925 204 12, 931 7,887 5,044 216 213 Mar. 30. 980 204 13,031 7,975 5,056 200 180 Apr. 6. 945 211 13,063 8,012 5,051 185 173 Apr. 13. 972 203 13,020 7,959 5,061 125 205 Apr. 20. 965 205 13, 042 7,924 5,118 118 209 Apr. 27. 976 202 13,105 7,975 5,130 111 230 May 4. 961 206 13,184 8,031 5,153 92 184 May 11. 966 200 13,182 8,007 5,175 67 227 May 18. 979 201 13,158 7,987 5,171 64 206 May 25. 962 202 13,156 7,993 5,163 52 245 June 1. 969 209 13,178 8,044 5,134 31 188 June 8. 995 200 13, 320 8,179 5,141 180 173 June 15. 967 201 13,103 7,955 5,148 174 219 June 22. 946 210 13,131 7,951 5,180 144 259 June 29. 970 215 13, 214 8,039 5,175 118 257 July 6. 968 212 13, 284 8,091 5,193 95 188 July 13. 957 199 13, 215 8,034 5,181 85 209 July 20. 950 202 13,190 8,000 5,190 85 196 July 27. 986 196 13,215 8,018 5,197 78 206 Aug. 3. 956 201 13,299 8,086 5,213 47 179 Aug. 10. 980 193 13 312 8,096 5,216 36 168 Aug. 17. 982 198 13,255 8,031 5,224 36 171 Aug. 24. 983 197 13, 322 8,083 5,239 36 186 Aug. 31. 972 209 13,361 8,117 5,244 8 163 Sept. 7. 985 210 13,490 8,229 5,261 7 165 Sept. 14. 983 202 13,325 8,056 5,269 225 196 Sept. 21. 969 202 13, 347 8,060 5,287 225 182 Sept. 28. 992 203 13,465 8,138 5,327 213 195 Oct. 5. 1,005 207 13, 533 8,198 5,335 214 216 Oct. 12. 997 206 13,493 8,158 5,335 160 224 Oct. 19. 972 206 13, 458 8,135 5,323 123 198 Oct. 26. 990 200 13,488 8,188 5,300 113 204 Nov. 2. 970 221 13,554 8,212 5,342 76 204 Nov. 9. 1,027 204 13,670 8,317 5,353 241 168 Nov. 16. 977 212 13, 676 8,291 5,385 85 206 Nov. 23. 1,000 216 13,749 8,357 5,392 8 233 Nov. 30. t 1,007 225 13,730 8,357 5,373 4 220 Dec. 7. 1,023 239 13,782 8,404 5,378 5 274 i Dec. 14. 997 253 13,621 8,231 5,390 135 292 ! Dec. 21. 1,022 245 13, 612 8,214 5,398 135 260 Dec. 28. Monthly averages: 954 222 12,876 7,940 4,936 93 223 January. 957 206 12,907 7,948 4,959 77 173 February. 955 203 13, 026 7,966 5,060 165 195 March. 965 206 13,038 7,967 5,071 157 192 April. 970 202 13,157 8,000 5,157 84 212 May. 968 204 13,177 8,024 5,153 116 217 June. 961 207 13, 226 8,041 5,185 96 212 July. 978 197 13,281 8,063 5,218 47 182 August. 977 206 13,381 8,115 5,266 116 176 September. 991 206 13,487 8,157 5,330 177 208 October. 993 211 13, 626 8,272 5,354 105 203 November. 1,012 240 13, 686 8,301 5,385 70 261 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

118 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 54.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY— [In millions of dollars] Loans Investments Total Date or month and invest- On secu- Total U. S. se- Other sements L oiai rities curities curities 1928 Jan. 4 14,430 10, 270 4,108 6,163 4,159 1,844 2,315 Jan. 11 14, 500 10, 313 4,120 6,192 4,187 1,875 2,312 Jan.18 14, 499 10,292 4,133 6,159 4,208 1,905 2,303 Jan. 25 14, 381 10,171 4,041 6,130 4,210 1,917 2,293 Feb. 1 14, 431 10, 224 4,078 6,146 4,207 1,920 2,287 Feb. 8 14, 464 10, 262 4,096 6,166 4,202 1,914 2,288 Feb. 15 14, 454 10, 248 4,068 6,181 4,206 1.911 2,295 Feb. 22 14, 445 10,229 4,082 6,148 4,215 1.900 2,315 Feb. 29 14,422 10, 237 4,073 6,164 4,185 1,866 2,319 Mar. 7- — 14,473 10, 309 4,107 6,202 4,163 1,849 2,314 Mar. 14 14. 540 10, 375 4,139 6,236 4,165 1,837 2,329 Mar. 21 — 14. 674 10, 369 4,149 6,220 4,305 1,944 2,361 Mar. 28 14,651 10,370 4,152 6,218 4,280 1,919 2,362 Apr. 4 14,738 10, 457 4,220 6,237 4,281 1,912 2,369 Apr. 11 14, 822 10, 546 4, 268 6,278 4,276 1,924 2,353 Apr. 18 14,838 10, 539 4,277 6,262 4,299 1.942 2,357 Apr. 25 14, 773 10, 466 4,233 6,233 4,307 1,951 2,356 May 2.. 14.843 10, 527 4,242 6,285 4,316 1,957 2,359 May 9 14.844 10, 546 4,266 6,280 4, 2S9 1,940 2,358 May 16 14,870 10, 565 4,293 6,272 4,305 1,934 2,371 May 23 14,875 10, 548 4,308 6,239 4,327 1,952 2,375 May 29.. 14,895 10, 574 4,333 6,241 4,320 1,919 2,401 June 6. --- 14,870 10,581 4,344 6,237 4,289 1,933 2,356 June 13 14, 927 10, 644 4,359 6,286 4,282 1,923 2,359 June 20 14, 895 10,625 4,340 6,285 4,270 1,914 2,356 June 27 14,899 10, 640 4,351 6,289 4,259 1,897 2,362 July 3 14, 903 10,649 4,363 6,287 4,254 1,891 2,362 July 11 14, 838 10,621 4,337 6,284 4,217 1,885 2,331 July 18 14,840 10,636 4,320 6,315 4,204 1,881 2,323 July 25 14, 766 10,583 4,299 6,284 4,183 1,865 2,318 Aug. 1... 14, 894 10, 633 4,308 6,324 4,261 1,955 2,305 Aug. 8 14, 854 10, 637 4,313 6,324 4,217 1,934 2,283 Aug. 15 14, 877 10,668 4,309 6,359 4,209 1,924 2,286 Aug. 22 14, 804 10, 623 4,275 6,348 4,181 1,908 2,273 Aug. 29 14, 802 10, 634 4,285 6,349 4,168 1,902 2,266 Sept. 5 14, 796 10, 640 4,284 6,356 4,155 1,896 2,260 Sept. 12 14, 796 10,676 4,295 6,381 4,120 1,880 2,241 Sept. 19 - 14, 917 10,694 4,297 6,397 4,223 1,984 2,239 Sept. 26 14, 889 10, 699 4,309 6,390 4,190 1,955 2,235 Oct. 3 14, 887 10,753 4,292 6,460 4,134 1,918 2,216 Oct. 10__- 14, 872 10, 769 4,306 6,463 4,103 1,905 2,198 Oct. 17 14,962 10, 804 4,305 6,498 4,159 1,962 2,197 Oct. 24 14, 926 10, 787 4,316 6,471 4,139 1,947 2,191 Oct. 31 14, 978 10, 857 4,352 6,506 4,120 1,926 2,194 Nov. 7 14, 933 10,840 4,357 6,483 4,093 1,910 2,183 Nov.14 — 14,928 10,846 4,376 6,470 4,083 1,909 2,174 Nov. 21_ 14,923 10, 830 4,388 6,443 4,092 1,897 2,195 Nov. 28 14,927 10, 846 4,433 6,413 4,081 1,894 2,186 Dec. 5 14,964 10, 881 4,430 6,451 4,084 1,891 2,192 Dec. 12.. 15, 011 10,936 4,464 6,472 4,075 1,876 2,199 Dec. 19 15,124 10,951 4,458 6,494 4,173 1,963 2,210 Dec. 26 15,048 10,885 4,450 6,435 4,163 1,954 2,209 Monthly averages: January 14, 452 10, 261 4,100 6,161 4,191 1,885 2,306 February 14,443 10, 240 4,079 6,161 4,203 1,902 2,301 March 14, 584 10,356 4,137 6,219 4,229 1,887 2,341 April 14, 793 10,502 4,249 6,252 4,291 1,932 2,359 May 14, 865 10, 552 4,288 6,263 4,313 1,941 2,373 June 14, 897 10, 623 4,349 6,274 4,275 1,917 2,358 July 14,837 10, 622 4,330 6,293 4,214 1,881 2,334 August 14,846 10, 639 4,298 6,341 4,207 1,925 2,283 September 14,849 10,677 4,296 6,381 4,172 1,929 2,244 October. __„__. 14, 925 10, 794 4,314 6,480 4,131 1,932 2,199 November 14, 928 10, 840 4,388 6,452 4,087 1,902 2,185 December 15, 037 10, 913 4,450 6,463 4,124 1,921 2,202 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN LEADING CITIES 119 PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930—Continued [In millions of dollars] Net demand plus time Reserve deposits Borrowwith Cash in Govern- ings at Federal vault ment de- Federal Date or month r b es a e n r k v s e Total N m e a t n d d e- Time posits r b e a se n r k v s e 1928 1,023 228 13, 789 8,354 5,435 115 269 Jan. 4. 1,029 222 13, 899 8,441 5,458 87 196 Jan. 11. 1.015 202 13,809 8,346 5,463 63 239 Jan. 18. 1,005 196 13, 737 8,252 5,485 56 177 Jan. 25. 999 190 13, 745 8,248 5,497 54 224 Feb. 1. 1,005 199 13, 734 8,218 5,516 30 245 Feb. 8. 1,004 202 13, 796 8,270 5,526 24 238 Feb. 15. 1,009 190 13,665 8,142 5,523 24 281 Feb. 22. 1,004 191 13, 666 8,130 5,536 24 313 Feb. 29. 990 196 13, 713 8,136 5,577 7 280 Mar. 7. 1,000 196 13, 800 8,197 5,603 7 285 Mar. 14. 984 192 13, 700 | 8,072 5,628 197 309 Mar. 21. 980 192 13,668 i 8,040 5,628 196 275 Mar. 28. 1,006 193 13,803 8,189 5, 614 192 305 Apr. 4. 1,000 197 13, 901 8, 262 5,639 165 315 Apr. 11. 1,003 190 13,877 1 8.229 5,648 118 378 Apr. 18. 1,016 191 13, 813 8,148 5,665 82 373 Apr. 25. 1,012 191 13, 886 8,216 5,670 76 405 May 2. 1,019 196 13, 934 8,232 5,702 51 379 May 9. 998 186 13,970 8,267 5,703 35 396 May 16. 994 193 13,853 8,151 5,702 27 428 May 23. 999 192 13,823 8,103 5,720 27 500 May 29. 995 194 13,853 8,136 5,717 510 June 6. 1, Oil 201 13, 952 8,223 5,729 538 June 13. 979 192 13, 689 7,990 5,699 150 505 June 20. 980 195 13, 638 7,933 5,705 144 547 June 27. 1,028 192 13, 741 8,022 5,719 116 644 July 3. 996 205 13, 736 8, 041 5,695 87 528 July 11. 974 190 13, 634 7,965 5,669 67 574 July 18. 974 188 13, 52J 7,863 5,666 51 575 July 25. 972 184 13, 575 7,893 5,682 195 599 Aug. 1. 962 191 13,484 7,816 5,668 159 583 Aug. 8. 069 184 13, 555 7,896 5,659 153 577 Aug. 15. 969 193 13,464 7,799 5,665 124 569 Aug. 22. 963 193 13,473 7,796 5,677 98 589 Aug. 29. 974 194 13,566 7,910 5,656 79 565 Sept. 5 994 199 13,674 8,022 5,652 56 555 Sept. 12. 988 193 13, 618 7,967 5, 651 151 556 Sept. 19. 980 194 13, 595 7,931 5, 664 121 549 Sept. 26. 989 196 13, 700 8,060 5,640 72 545 Oct. 3. 984 205 13, 693 8,053 5,640 48 534 Oct. 10. 994 197 13,759 8,130 5,629 133 519 Oct. 17. 989 199 13, 652 8,026 5,626 98 532 Oct. 24. 980 195 13, 700 8,052 5,648 94 542 Oct. 31. 987 209 13,734 8,095 5,639 64 533 Nov. 7. 1,008 209 13,804 8,168 5,636 50 533 Nov. 14. 995 199 13, 746 8,103 5,643 51 493 Nov. 21. 980 204 13,694 8,053 5,641 38 538 Nov. 28. 996 213 13,749 8,116 5,633 13 542 Dec. 5. 1,005 226 13, 838 8,203 5,635 3 573 Dec. 12. 967 239 13, 724 8,075 5,649 181 562 Dec. 19. 1,015 250 13, 640 7,983 5,657 144 637 Dec. 26. Monthly averages: 1,018 212 13,809 8,349 5,460 80 220 January. 1,004 194 13, 721 8,202 5,519 31 260 February. 988 194 13, 720 8,111 5,609 102 287 March. 1,006 193 13, 849 8,207 5,642 139 343 April. 1,004 192 13,893 8,194 5,699 43 422 May. 991 196 13, 784 8,071 5,713 74 525 June. 993 194 13, 660 7,973 5,687 80 580 July. 967 189 13, 510 7,840 5,670 146 583 August. 984 195 13, 613 7,957 5,656 101 556 September. 987 199 .13,700 8,064 5, 636 89 534 October. 993 205 13, 745 8,105 5, 640 51 524 November. 996 232 13, 738 | 8,094 5, 644 85 578 December. 33454—31- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

120 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 54.—REPORTING MEMBER BANKS OUTSIDE NEW YORK CITY— [In millions of dollars] Total Loans Investments loans Date or month and inm ve e s n t t - s Total O r n i t s ie ec s u- All other Total U cu . r i S ti . e s se- O cu th ri e ti r e s se- 1929 Jan. 2__. 15,065 10,966 4,559 6,407 4,099 1,907 2,194 Jan. 9... 15,045 10, 925 4,551 6,374 4,120 1,927 2,193 Jan. 16 15.102 10, 935 4,624 6,311 4,167 1,975 2,192 Jan. 23 15,056 10,898 4,622 6,276 4,158 1,970 2,187 Jan. 30 15,026 10, 887 4,651 6,236 4,138 1,962 2,177 Feb. 6 15.068 10, 933 4,701 6,232 4,136 1,963 2,173 Feb. 13 15, 053 10, 926 4,698 6,228 4,127 1,956 2,171 Feb. 20.. 15,071 10,960 4,701 6,259 4,111 1,940 2,172 Feb. 27__ 15,099 10, 997 4,710 6,287 4,102 1,926 2,176 Mar. 6 15,113 11,009 4,714 6,295 4,104 1,948 2,156 Mar. 13 15,175 11, 082 4,762 6,319 4,093 1,947 2,145 Mar. 20 15, 241 11,103 4,809 6,294 4,136 1,991 2,145 Mar. 27 _ 15,177 11, 073 4,740 6,333 4,105 1,977 2,128 Apr. 3 15,156 11, 062 ' 4, 697 6,366 4,094 1,969 2,124 Apr. 10 15,117 11, 034 4,672 6,363 4,084 1,939 2,145 Apr. 17..._ 15, 088 11, 033 4,671 6,362 4,055 1,931 2,124 Apr. 24... - 15,006 10,978 4,612 4,027 1,923 2,103 May 1 14, 981 10, 962 4,594 6,368 4,019 1,923 2,096 May 8 14,929 10, 943 4,594 6,349 3,984 1,904 2,081 May 15 14,962 10, 964 4,580 6,383 3,998 1,910 2,088 May 22 14,885 10, 893 4,530 6,363 3,993 1,913 2,079 May 29.. 14,900 10, 903 4,527 6,376 3,997 1,879 2,119 June 5 14, 879 10, 928 4,519 6,409 3,952 1,867 2,084 June 12 14, 904 10, 974 4,546 6,428 3,930 1,850 2,081 June 19 - 15, 021 11, 078 4,633 6, 445 3,943 1,872 2,071 June 26_ — 14, 997 11,068 4,631 6,439 3,929 1,841 2,087 July 3 - 14, 960 11, 082 4,644 6,438 3,878 1,820 2,058 July 10 14,973 11, 125 4,663 6,461 3,849 1,800 2,050 July 17 14,993 11, 163 4,674 6,490 3,831 1,793 2,037 July 24 - 14, 957 11, 155 4,666 6,490 3,803 1,777 2,025 July 31 15, 031 11, 208 4,705 | 6,502 3,823 1,774 2,049 Aug. 7 - 15, 069 11, 269 4,754 i 6,516 3,800 1,774 2,026 Aug. 14 15, 069 11, 290 4,751 ! 6,540 3,779 1,772 2,008 Aug. 21 15, 069 11, 301 4,735 | 6,566 3,768 1,768 2,000 Aug. 28 15, 022 11, 264 4,696 | 6,567 3,759 1,761 1,997 Sept. 4 - 15, 045 11,297 4,688 ; 6,610 3,748 1,756 1,991 Sept. 11 _.- 15.103 11,372 4,732 ! 6,640 3,732 1,749 1,983 Sept. 18- 15,200 11, 439 4,790 | 6,647 3,760 1,769 1,991 Sept. 25 15, 208 11, 467 4,837 I 6,630 3,741 1,753 1,988 Oct. 2__ 15, 266 11, 552 4,881 6,671 3,714 1,739 1,975 Oct. 9__ 15, 209 11,513 4,851 6,661 3,695 1,724 1,972 Oct. 16 15, 268 11, 580 4,911 6,669 3,688 1,712 1,976 Oct. 23 15, 276 11,601 4,915 6,686 3,674 1,707 1,967 Oct. 30. 15,421 11, 743 4,974 6,769 3,677 1,692 1,985 Nov. 6_ 15, 415 11, 756 4,995 6,761 3,659 1,686 1,973 Nov. 13 15, 378 11,712 4,942 6,769 3,667 1,671 1,997 Nov. 20. 15, 297 11, 646 4,886 6,761 3,651 1, 655 1,997 Nov. 27 15,166 11,529 4,812 | 6,717 3,637 1,645 1,992 Dec. 4___ 15,107 11, 491 4,816 i 6,675 3,615 1,628 1,987 Dec. 11 15,013 11, 408 4,795 I 6,613 3,604 1,614 1,990 Dec. 18..- 15, 013 11, 429 4,876 | 6,553 3,585 1,631 1,954 Dec. 24 14, 998 11,399 4,886 I 6,513 3,599 1,621 1,979 Dec. 31.- 14, 923 11,392 4,906 6,485 3,531 1,520 2,010 Monthly averages: January 15, 059 10, 922 4,602 j 6,321 4,136 1,948 2,188 February 15,073 10,954 4,703 6,251 4,119 1,946 2,173 March 15,176 11,067 4, 756 I 6,310 4,109 1,966 2,143 April 15,092 11,027 4,663 i 6,364 4,065 1,941 2,124 May 14,931 10,933 4,565 ! 6,368 3,998 1,906 2,093 June 14, 950 11,012 4,582 I 6,430 3,938 1,858 2, 081 July 14,983 11,146 4,670 I 6,476 3,837 1,793 2, 044 August... 15, 058 11,281 4,734 I 6,547 3,776 1,769 2,008 September 15,139 11,394 4,762 6, 632 3,745 1,757 1,988 October 15,288 11,598 4,906 6,692 3,690 1,715 1,975 November 15,314 11,661 4,909 6,752 3,654 1,664 1,989 December 15,011 11,424 4,856 6, 568 3, 587 1,603 1,984 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

121 KEPOKTING MEMBER BANKS IN LEADING CITIES PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930—Continued [In millions of dollars] Net demand plus time R F r b e w e e a s d s e i n e e t r k h r r v v s a e e l C v a a sh u l i t n Total d N e m p et a o n s d i d e ts - Time m G p e o o n v s t e i r t d s n e - - B F r i b n e o e a s g r d e n r s e o r k r v w a s a e t l - Date or month 1929 1,014 227 13,983 8,301 5,682 122 531 Jan. 2. 1,008 212 13,895 8.201 5, 694 81 453 Jan. 9. 1,015 188 13,923 8,220 5,703 66 457 Jan. 16. 1,004 190 13, 793 8,036 5,707 60 473 Jan. 23. 992 188 13, 754 8,061 5,693 61 452 Jan. 30. 1,001 183 13, 748 8,058 5,690 36 505 Feb. 6. 1,000 200 13,908 8,211 5,697 31 495 Feb. 13. 977 192 13, 741 8,047 5,694 31 534 Feb. 20. 985 190 13,740 8,038 5,702 26 578 Feb. 27. 990 185 13,727 8,023 5,704 4 560 Mar. 6. 995 189 13,826 8,137 5,689 4 577 Mar. 13. 971 182 13, 636 7,991 5,645 176 585 Mar. 20. 962 188 13, 553 7,913 5,640 176 575 Mar. 27. 959 185 13,474 7,831 5,643 167 631 Apr. 3. 956 184 13,477 7,850 5,627 149 548 Apr. 10. 962 177 13,545 7,913 5, 632 96 550 Apr. 17. 954 181 13, 439 7,817 5,622 86 521 Apr. 24. 956 171 13, 511 7,900 5,611 83 546 May 1. 959 182 13,454 7,840 5,614 62 495 May 8. 957 173 13,586 7,972 5,614 61 460 May 15. 946 180 13,360 7,740 5,620 57 503 May 22. 944 180 13,278 7,667 5,611 57 577 May 29. 951 181 13,340 7,731 5,609 34 540 June 5. 961 180 13,488 7,901 5,587 27 492 June 12. 937 176 13,373 7,795 5,578 188 504 June 19. 959 178 13,381 7,780 5,601 188 487 June 26. 971 181 13,560 7,952 5,608 145 485 July 3. 937 220 13,504 7,916 5,588 116 509 July 10. 972 199 13,585 8,027 5,558 114 465 July 17. 973 190 13,512 7,943 5,569 66 466 July 24. 964 184 13, 600 8,038 5,562 63 485 July 31. 972 188 13,584 8,023 5,561 37 475 Aug. 7. 971 189 13, 598 8,019 5,579 33 535 Aug. 14. 950 184 13,516 7,945 5,571 33 542 Aug. 21. 961 187 13, 456 7,879 5,577 28 532 Aug. 28. 958 188 13,556 7,954 5,602 8 544 Sept. 4. 973 192 13,669 8,079 5,590 543 Sept. 11 971 186 13, 568 7,986 5,582 162 531 Sept. 18. 966 184 13, 531 7,942 5,589 162 541 Sept. 25. 974 178 13, 585 8,016 5,569 162 609 Oct. 2. 959 192 13, 482 7,934 5,548 149 566 Oct. 9. 990 179 13,686 8,136 5,550 114 564 Oct. 16. 986 184 13,642 8,016 5,626 94 513 Oct. 23. 1,008 193 13,870 8,259 5,611 91 559 Oct. 30. 996 193 13,776 8,177 5,599 59 598 Nov. 6. 989 200 13,715 8,201 5,514 55 648 Nov. 13. 972 189 13, 529 8,044 5, 485 42 564 Nov. 20. 962 194 13,405 7,920 5,485 36 570 Nov. 27. 981 196 13,407 7,931 5,476 23 546 Dec. 4. 960 208 13,489 8,003 5, 486 19 427 Dec. 11. 977 216 13,453 " 7,961 5,492 88 380 Dec. 18. 966 215 13,455 7,927 5,528 73 395 Dec. 24. 947 201 13, 642 8,090 5,552 65 299 Dec. 31. Monthly averages: 1,007 201 13, 870 8,174 5,696 78 473 January. 991 191 13,784 8,088 5,696 31 528 February. 979 186 13, 685 8,016 5,669 90 574 March. 957 182 13,484 7,853 5,631 124 563 April. 952 177 13, 438 7,824 5,614 64 516 May. 952 179 13, 396 7,802 5,594 109 505 June. 963 195 13, 552 7,975 5,577 101 482 July. 963 187 13, 538 7,967 5,571 33 521 August. 967 187 13, 581 7,990 5,591 83 540 September. 983 185 13, 653 8,072 5,581 122 561 October. 980 194 13, 607 8,086 5,521 48 594 November. 966 207 13,489 7,982 5,507 54 410 December. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

122 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 54.—REPOKTING MEMBER BANKS OUTSIDE NEW YORK CITY [In millions of dollars] Total .Loans Investments Date or month loans vestments Total O r n i t s i e e c s u- All other Total | I U cu . r S it . i e s s e- O cu th r e it r i e s s e- 1930 Jan. 8 14,787 11,203 4,857 6,346 3,584 I 1,609 1,975 Jan. 15 14,737 11,154 4,884 6,270 3,583 | 1,614 1,969 Jan. 22 14,657 11,069 4,838 6,232 3,587 1,622 1,965 Jan. 29 14,637 11,035 4,815 6,220 3,602 I 1,629 1,973 Feb. 5 14,581 10,981 4,771 6,211 3,600 1,629 1,971 Feb. 12 14,581 10,981 4,770 6,211 3,600 1,633 1,966 Feb. 19 14,607 10,941 4,756 6,184 3,666 1,695 1,971 Feb. 26 14,591 10,929 4,751 6,178 3,662 1,693 1,969 Mar. 5 14,603 10,966 4,784 6,181 3,637 I 1,664 1,973 Mar. 12 14,637 11,004 4,818 6,186 3,634 ! 1,656 1,978 Mar. 19 14, 767 11,059 4,894 6,165 3,707 1, 715 1,992 Mar. 26 14,807 11,075 4,903 6,172 3,732 1,724 2,008 Apr. 2 14,783 11,019 4,851 6,168 3,763 1,730 2,034 Apr. 9 14,836 11,049 4,878 6,171 3,787 i 1,737 2,051 Apr. 16 14,854 11,060 4,921 6,139 3,794 1,735 2,059 Apr. 23 14,861 11,044 4,918 6,126 3,817 I 1,754 2,064 Apr. 30 14,806 10,995 4,870 6,125 3,811 1,740 2,072 May 7 14,804 10,983 4,850 6,132 3,822 1,738 2,083 May 14 14, 784 10,941 4,839 6,102 3,843 1,739 2,104 May 21 14,830 10,958 4,866 6,092 3,871 1,745 2,127 May 28 14,823 10,909 4,856 6,053 3,914 1,732 2,182 June 4 14,823 10,916 4.845 6,072 3,907 1,733 2,174 June 11 14,907 10,979 4,927 6,053 3,928 1,727 2,201 June 18 14,986 10,999 4,882 6,117 3,988 1,775 2,213 June 25 14,911 10, 901 4,783 6,118 4,010 1,764 2,246 July 2 14, 957 10, 902 4,783 6,119 4,056 1,756 2, 300 July 9 15,008 10,953 4,861 6,092 4,055 1,772 2,283 July 16 15, 091 10, 962 4,880 6,082 4,130 1,819 2,311 July 23 15,025 10,900 4,835 6,065 4,125 1,820 2,305 July 30 15, 034 10,895 4,805 6,090 4,139 1,809 2,330 Aug. 6 15,027 10,869 4,776 6.093 4.158 1,798 2,359 Aug. 13 15,024 10.855 4,764 6,091 4,169 1,795 2,374 Aug. 20 15,060 10. 828 4.762 6,066 4,232 1,832 2,400 Aug. 27 15,015 10, 783 4,743 6,040 4,232 1.833 2,399 Sept. 3 15,007 10, 772 4,705 6,067 4,234 1,835 2,399 Sept. 10 15,124 10,880 4,801 6,078 4,244 1,832 2,412 Sept. 17 15,192 10, 911 4,855 6,055 4,282 1,863 2,419 Sept. 24 15, 205 10,879 4,835 6,044 4,326 1,885 2,441 Oct. 1 15,142 10, 769 4,679 6,090 4,373 1,908 2,464 Oct. 8 15, 061 10,686 4,600 6.086 4,375 1,921 2,454 Oct. 15 15.087 10,689 4,611 6,078 4,398 1,917 2,481 Oct. 22 15.110 10, 670 4,585 6,085 4,440 1,930 2,509 Oct. 29 15, 081 10,648 4,565 6,084 4,433 1,924 2,509 Nov. 5 15,054 10,668 4,550 6,117 4,386 1,889 2,498 Nov. 12 15.071 10,646 4,527 6,119 4,425 1,912 2,513 Nov. 19 15,042 10,622 4,486 6,136 4,421 1,905 2,516 Nov. 26 14,969 10,538 4,419 6,119 4,431 1,889 2,542 Dec. 3 14,964 10,541 4,428 6,113 4,424 1,878 2,546 Dec. 10 14, 961 10, 530 4,459 6,071 4,432 1,873 2,558 Dec. 17 15,082 10, 552 4,499 6,054 4,529 1,978 2, 552 Dec. 24 14,940 10,450 4,413 6,037 4,490 1,922 2.568 Dec. 31 14,804 10,404 4,376 6,028 4,400 1,810 2,590 Monthly averages: January 14, 705 11,115 4,849 6,267 3,589 1,619 1,970 February 14, 590 10,958 4,762 6,196 3,632 1,662 1,969 March.., 14, 703 11,026 4,850 6,176 3,677 1,690 1,988 April 14,828 11,033 4,888 6,146 3,795 1,739 2,056 May 14,810 10,948 4,853 6,095 3,862 1,739 2,124 June 14,907 10,949 4,859 6,090 3,958 1,750 2,208 July _ 15, 023 10,922 4,833 6,090 4,101 1,795 2,306 August 15,031 10,834 4,761 6,072 4,198 1,815 2,383 September 15,132 10,860 4,799 6,061 4,272 1,854 2,418 October 15, 096 10,692 4,608 6,085 4,403 1,920 2,483 November 15,034 10, 618 4,496 6,123 4,416 1,899 2,517 December 14,950 10, 495 4,435 6,061 4,455 1,892 2,563 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBEK BANKS IN LEADING CITIES 123 PRINCIPAL RESOURCES AND LIABILITIES, 1927-1930—Continued [Tn millions of dollars] Net demand plus time Reserve deposits Borrowwith Cash in Govern- ings at F r e es d e e r r v a e l vault m p e o n s t it d s e- F re e s d e e r r v a e l Date or month banks Total N m e a t n d d e- Time banks 1930 982 198 13,479 7,939 5,540 268 Jan. 8. 960 187 13,517 7,938 .5,579 215 Jan. 15. 984 179 13,445 7,825 5,620 176 Jan. 22. 962 181 13,362 7,724 173 Jan. 29. 955 173 13,333 7,711 5,622 162 Feb. 5. 946 176 13,393 7,760 5,633 148 Feb.12. 953 182 13, 393 7,766 5,627 149 Feb.19. 949 172 13,361 7,717 5,644 151 Feb. 26. 960 169 13,395 7,754 5,641 126 Mar. 5. 978 174 13, 529 7,876 5,653 96 Mar. 12. 940 166 13,469 7,798 5,671 180 51 Mar. 19. 166 13, 618 7,884 5,734 153 47 Mar. 26. 161 13, 621 7,902 5,719 140 67 Apr. 2. 963 169 13,642 7,908 5,734 111 45 Apr. 9. 162 13,740 8,017 5,723 91 49 Apr. 16. 174 13,670 7,970 5,700 70 49 Apr. 23. 992 167 13,666 7,956 5,710 63 62 Apr. 30. 986 171 13,653 7,944 5,709 34 51 May. 7. 995 176 13, 751 8,023 5,728 34 47 May 14. 991 168 13, 734 7,972 5,762 34 43 May 21. 962 177 13, 651 7,880 5,771 34 52 May 28. 992 174 13,777 7,993 5,784 19 45 June 4. 990 175 13,895 8,112 5,783 13 48 June 11. 1,004 168 13,808 8,037 5,771 142 44 June 18. 990 169 13,719 7,905 5,814 142 54 June 25. 996 175 13, 956 8,080 5,876 129 84 July 2. 1,024 182 13,998 8,107 5,891 98 67 July 9. 1,028 167 14,175 8,228 5,947 90 45 July 16. 998 166 14, 038 8,082 5,956 80 32 July 23. 993 168 14,005 8,090 5,915 73 35 July 3. 998 160 14, 008 8,070 5,938 43 36 Aug. 6. 1,002 16S 14, 063 8,110 5,953 30 38 Aug. 13. 1,025 159 14,041 8,069 5,972 30 44 Aug. 20. 1,006 165 13, 970 7,975 5, 995 30 40 Aug. 27. 1,020 163 14,051 8,016 6,035 43 Sept. 3. 1,017 170 14,180 8,145 6.035 37 Sept. 10. 1,027 161 14,138 8,093 6,045 135 28 Sept. 17. 996 165 14,042 7,968 6,074 135 33 Sept. 24. 985 156 14,114 8,034 6,080 135 44 Oct. 1. 1,008 167 13,996 7,934 6,062 109 37 Oct. 8. 1,033 165 14,148 8,102 6,046 106 47 Oct. 15. 1,001 166 13,990 7,960 6,030 91 58 Oct. 22. 1,005 169 13,949 7,893 6,056 84 62 Oct. 29. 995 171 14, 061 8,008 6, 053 53 1,013 179 14,190 8,125 6,065 36 999 171 14, 002 7,957 6,045 25 983 172 13, 933 7,885 6,048 25 1,011 174 13, 968 7,974 5,994 1,008 190 13,961 7,966 5,995 1,013 203 13,880 7,916 5, 964 205 990 214 13,688 7,771 5,917 1,018 202 13,797 7,928 5,869 1 LO 6 4 9 972 186 13,451 7, 857 5,594 31 951 176 13,370 7,739 5,631 7 962 169 13, 503 7,828 5,675 83 981 167 13, 668 7,951 5,717 95 984 173 13,697 7,955 5,742 34 994 171 13,799 8,011 5,788 79 1,008 171 14, 035 8,118 5,917 94 1,008 163 14,020 8,056 5,964 34 1,015 165 14,102 8,055 6,047 70 1,006 164 14, 040 7,985 6,055 105 998 173 14,046 7,994 6,052 35 1,008 197 13,859 7,911 5,948 108 ooo 54 I Nov. 5. 61 I Nov. 12. 62 Nov. 19. 84 Nov. 26. 93 I Dec. 3. 87 Dec. 10. 135 ! Dec. 17. 181 Dec. 24. Dec. 31. | Monthly averages: 208 January. 152 February. 80 March. 54 April. 48 May. 48 June. 53 July. 39 August. 35 September. 50 October, ii. 65 November. 115 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—BANKER'S BALANCES, BY WEEKS: TOTAL, NEW YORK CITY, OTHER LEADING CITIES [In millions of dollars] Due to banks Due from banks 1930 Total New C i Y ty ork O i t n h g e r c i l t e ie a s d- Total New C i Y ty ork O i t n h g e r c i l t e ie a s d- Jan. 8. 2,937 986 1,951 1,130 83 1,047 Jan.15 2,910 987 1,922 1,131 84 1,047 Jan. 22.. 2,736 866 1,869 1,078 78 1,000 Jan. 29 2,729 885 1,844 1,028 75 953 Feb. 5 2,899 950 1,949 1,110 77 1,033 Feb. 12 2,848 911 1,937 1,131 76 1,055 Feb. 19... 2,734 844 1,890 1,104 78 1,026 Feb. 26 ... 2,790 904 1,886 1,082 74 1,008 Mar. 5.. 2,910 943 1,966 1,098 77 1,021 Mar. 12 2,827 897 1,930 1,113 1,031 Mar. 19 2,933 982 1,951 1,219 112 1,107 Mar. 26 2,922 983 1,938 1,204 107 1,098 i Apr. 2... 3,061 1,039 2,021 1,232 1 122 1, 110 Apr. 9 2,954 975 1,979 1,130 105 1,026 Apr. 16 2,961 975 1,986 1,194 102 1,092 Apr. 23.. 2,797 891 1,905 1,155 125 1,029 Apr. 30 2,930 1,030 1,900 1,188 \ 147 1,041 May 7 . . 2,924 949 1,974 1,181 : 141 1,040 May 14 2,935 942 1,993 1,237 112 1,125 May 21... . . 2,825 908 1,917 1,187 106 1,081 May 28. 2,798 927 1,871 1,137 96 1,042 June 4 .. 3,064 1,027 2,036 1,250 101 1, 149 June 11 2,975 952 2,023 1,243 109 1,134 June 18. . . 3,117 1,010 2,108 1,375 118 1, 257 June 25 3,098 1,047 2,051 1,358 113 1, 245 Julv 2 . . 3,401 1,131 2,270 1,583 142 1,440 July 9 3,392 1,103 2,289 1,484 110 1,373 July 16 . . 3,394 1,061 2,333 1,604 96 1, 507 July 23 3,467 1,132 2,335 1,653 90 1,563 July 30... 3,365 1,072 2,293 1,565 93 1,471 Aug. 8 3,382 1,034 2,347 1,518 96 1,422 Aug. 13 3,362 1,004 2,358 1,564 94 1,471 Aug. 20 3,291 976 2,316 1,478 87 1,391 Aug. 27... 3,302 980 2,322 1,502 83 1,419 Sept. 3 3,494 ; 1,091 2,403 1,579 92 1,488 Sept. 10. 3,438 1,017 2,421 1,569 85 1,484 Sept. 17 3,590 1,109 2,481 1,680 101 1,579 Sept. 24 3,497 1,086 2,411 1,635 96 1,539 Oct. 1 3,664 1,224 2,439 1,657 122 1,536 Oct. 8 . 3, 604 1,147 2,457 1,645 108 1,537 Oct. 15 3,639 1,160 2,478 1,696 106 1,590 Oct. 22 3, 389 1,099 2,290 1,509 90 1,419 Oct. 29 3,427 1,138 2,290 1,568 90 1,478 Nov. 5. 3,606 1,230 2,376 1,627 92 1,535 Nov. 12 3, 593 1,183 2,410 1,672 97 1,575 Nov. 19. 3,499 1,174 2,325 1,658 91 1,567 Nov. 26 .- 3,413 1,215 2,198 1,531 79 1,452 Dec. 3—. 3,455 1,185 2,270 1,526 92 1,435 Dec. 10 3,339 1,104 2,234 1,492 78 1,414 Dec. 17 3,434 1,211 2,222 1,481 99 1,382 Dec. 24 3,203 1,090 2,113 1,407 94 1,313 Dec. 31— 3,539 1,317 2,222 1,617 132 1,485 Back figures.—See Annual Reports for 1929 (Table 53) and 1928 (Table 56), and Federal Reserve Bulletin for March and January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

125 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD BROKERS' LOANS No. 56.—LOANS TO BROKERS AND DEALERS, SECURED BY STOCKS AND BONDS, MADE BY REPORTING MEMBER BANKS IN NEW YORK CITY, BY WEEKS [In millions of dollars] Demand and time loans Demand loans Time loans 1930 For For For For For For Total o a w c- n o to u w t o n f ot F h o e r rs Total o a w c- n o to u w t o n f ot F h o e r rs Total o a w c n - o t u o t w n of o F th o e r rs count banks1! count banks] countbanks1 Jan.8... 3,352 824 1,642 2,925 745 782 1,399 427 142 42 243 Jan. 15... 3,365 853 877 1,636 2,949 707 836 1,406 416 146 41 229 Jan.22._ 3,341 814 874 1,653 2,920 666 834 1,420 420 148 39 233 Jan. 29._ 3,345 823 875 1,648 2,910 649 1,425 435 174 39 223 Feb. 5... 3,402 928 927 1,547 3,029 752 1,389 373 176 38 158 Feb. 12.. 3,450 924 989 1,536 3,068 742 952 1,374 382 182 38 162 Feb. 19.. 3,494 962 987 1,545 3,137 803 949 1,386 357 159 39 159 Feb. 26.. 953 980 1,556 3,116 778 942 1,396 373 175 38 160 Mar. 5... 3,583 1,006 1,032 1,545 3,175 796 996 1,382 408 210 35 163 Mar. 12__ 3,720 1,146 1,079 1,494 3,302 930 1,035 1,337 417 216 44 158 Mar. 19.. 3,841 1,266 1,171 1,404 3,387 1,014 1,121 1,252 454 252 50 152 Mar. 26.. 3,820 1,424 1,118 1,278 3,337 1,148 1,063 1,126 483 276 55 152 Apr. 2... 3,968 1,547 1,104 1, 316 3,474 1,260 1,055 1,159 494 288 50 157 Apr. 9... 3,994 1,471 1,184 1,339 3,480 1,170 1,133 1,178 513 301 51 161 Apr. 16.. 4,124 1,503 1,230 1,392 3,611 1,193 1,179 1,239 514 310 51 153 Apr. 23.. 4,217 1,568 1,213 1,436 3, 663 1,229 1,161 1,274 554 339 52 162 Apr. 30__ 4,274 1,695 1,183 1,397 3,697 1,338 1,130 1,228 577 357 53 168 May 7—. 4,074 1,611 1,123 1, 341 3,450 1,205 1,071 1,175 623 406 52 166 May 14- 4,007 1,618 1,069 1,320 3,376 1,202 1,018 1,157 631 416 52 163 May 21.. 4, 015 1,655 1,069 1,290 3,391 1,246 1,019 1,127 624 410 51 164 May 28.. 4,022 1,777 988 1,257 3,380 1,340 938 1,102 642 437 50 155 June 4... 4,101 1,911 995 1,195 3,469 1,475 951 1,044 632 437 44 151 June U__ 3,998 1,799 1,053 1,146 3,383 1,374 1,010 998 615 425 43 147 June 18.. 3,787 1,850 906 1,031 3,175 1,432 865 878 612 418 41 153 June 25 _ . 3,416 1,764 713 939 2,787 1,321 671 795 629 443 42 144 July 2... 3,219 1,710 654 856 2,580 1,251 607 722 639 458 47 134 July 9... 3,203 1, 563 760 880 2,579 1,114 714 751 624 449 46 129 July 16.. 3,243 1,596 799 847 2,634 1,154 759 721 608 443 40 125 July 23.. 3,226 1,619 776 832 2,624 1,184 733 707 603 435 43 125 July30_. 3,228 1,669 745 814 2,618 1,227 702 690 610 442 44 125 Aug. 6..- 3,214 1,719 694 801 2,578 1,249 649 681 635 469 45 121 Aug. 13— 3,155 1,646 705 804 2,513 1,165 659 642 481 45 115 Aug. 20- 3,128 1,607 714 807 2,489 1,128 668 639 479 46 114 Aug. 27— 3,102 1,665 655 782 2,462 1,189 610 664 639 477 45 117 Sept. 3._ 3,110 1,721 620 768 2,498 , 284 560 653 612 437 60 115 Sept. 10. 3,143 1,614 770 759 2,542 1,189 711 642 602 425 60 117 Sept. 17. 3,222 1,649 826 746 2,631 1,221 781 629 591 428 46 117 3,222 1,721 782 719 2,639 1,300 730 609 583 420 52 110 Oct. 1 3,063 1,834 602 627 2,453 1,383 546 524 609 451 56 103 Oct. 8 2,905 1,740 555 610 2,298 1,283 503 512 608 457 53 98 Oct. 15-. - 2,752 1,702 514 536 2,149 1,244 463 442 603 458 51 94 Oct. 22 2,613 1,590 511 512 2,020 1,141 459 420 593 449 52 92 Oct. 29__ 2,512 1,510 502 500 1,905 1,046 450 409 607 464 52 91 Nov. 5 2,454 1,512 469 473 1,847 1,041 417 389 606 471 52 84 Nov. 12 2,235 1,335 451 449 1,643 873 401 369 592 462 50 79 Nov. 19 2,185 1,292 439 455 1,602 833 391 377 583 459 48 77 Nov. 26 _. 2,122 1,288 380 455 1,563 849 334 379 560 438 45 76 Dec. 3 2,111 1,296 373 442 1,557 858 329 371 554 438 44 72 Dec. 10 2,099 1,269 400 430 1,551 833 356 362 547 436 44 68 Dec. 17 - 2,008 1,184 395 430 1,475 755 353 367 534 429 42 63 Dec. 24.. 1,920 1,262 294 363 1,408 844 259 305 512 418 35 58 Dec. 31 1,926 1,321 235 370 1,446 924 203 319 480 397 33 50 Averages: January 3,351 844 862 1,644 2,926 822 1,412 425 152 40 232 February 3,459 942 971 1,546 3,087 769 933 1,386 371 173 38 160 March. 3,741 1,210 1,100 1,430 3,300 972 1,054 1,274 440 238 46 156 April 4,115 1,557 1,183 1,376 3,585 1,238 1,132 1,216 530 319 51 160 May 4,030 1,665 1,062 1,302 3,399 1,248 1,011 1,140 630 417 51 162 June 3,825 1,831 917 1,078 3,204 1,401 874 929 622 431 42 149 July 3,224 1,631 747 816 2,607 1,186 703 718 617 445 44 128 August 3,150 1,659 692 798 2,511 1,183 646 682 639 477 45 117 September- 3,174 1,676 750 748 2,577 1,249 695 633 597 427 54 115 October 2,769 1,675 537 557 2,165 1,220 484 461 604 456 53 96 November— 2,249 1,357 435 458 1,664 899 386 379 585 457 49 79 December.._ 2,013 1,266 339 407 1,487 843 300 345 525 424 39 62 i Member and nonmember banks outside New York City (domestic banks only); includes unknown amount for customers of these banks. Digitized for FBaRcAk SfigEuRre s—-See Annual Reports for 1929 (Table 54), 1928 (Table 57), and 1927 (Table 46). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

126 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 57.—BROKERS' BORROWINGS, 1926-1930 [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 From Date Total p b Y N t c a a a r o o n n u e n m d w r i s k e k - t s s b c b p b f i a r o a e r a o n g r s i n k e v , e k i e t n a e i g s r n - t t n , s e c g , . Total p b Y t N c a a a r o o n n u e n m w d r i s k e k - t s s c b b p b f i r a a o e r a o n g s i r n k v e , e k k i e a n e g i r s n - t t n s , e c g , . otal p b Y t N c a a e r o n n o u t e m i c k w r s e . k s - t s , , c b p f b i F o a e a r a g s i r r n n v e , e o k k i n a m e g i s - t t n n , e c g . 1926 Jan.30 3,513 3,043 470 2,517 2,123 394 996 920 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 June 30 2,926 2,509 417 2,225 1,852 374 701 657 July 31 2,998 2,583 415 2,283 1,918 365 715 665 Aug. 31 3,142 2,698 444 2,364 1,984 379 778 713 Sept. 30.... 3,219 2,745 474 2,419 2,021 398 800 724 Oct. 30 3,111 2,668 444 2,289 1,924 365 I 822 743 Nov. 30.... 3,129 2,636 493 2,330 1,932 397 800 704 Dec. 31 3,293 2,804 489 2,542 2,128 414 751 676 1927 Jan.31 3,139 2,670 469 2,328 1,964 365 810 707 Feb. 28 3,256 2,757 499 2,475 2,085 391 781 673 Mar. 31.... 3,290 2,790 500 2,505 2,112 393 785 679 Apr. 30 3,341 2,865 476 2,541 2,146 395 800 719 May 31 3,458 2,968 490 2,674 2,254 420 784 713 June 30 3,569 3,065 504 2,757 2,316 441 812 749 July 30 3,642 3,145 497 2,765 2,343 421 877 802 Aug. 31.— 3,674 3,170 504 2,746 2,330 415 928 840 Sept. 30.— 3,915 3,340 575 3,018 2,539 479 897 801 Oct. 31 3,946 3,363 583 3,023 2,549 475 923 814 Nov. 30..- 4,092 3,519 573 3,134 2,675 459 958 844 Dec. 31 4,433 3,812 621 3,481 2,963 518 952 849 1928 Jan.31 4,420 3,805 615 3,393 2,882 511 1,027 923 Feb. 29 4,323 3,737 585 3,294 2,807 488 1,028 931 Mar. 31.... 4,640 3,947 693 3,580 3,016 564 1,060 931 Apr. 30 4,908 4,246 662 3,739 3,201 537 1,169 1,045 May 31 5,274 4,568 707 4,070 3,455 616 1,204 1,113 June 30 4,898 4,169 730 3,742 3,122 619 1,157 1,046 July 31 4,837 4,150 687 3,768 3,183 585 1,070 967 Aug. 31 5,051 4,260 791 4,094 3,420 674 958 840 Sept. 29__._ 5,514 4,647 4,690 3,939 751 824 709 Oct. 31 5,880 4,994 5,116 4,360 756 764 634 Nov. 30.... 6,392 5,412 5,614 4,771 843 777 641 Dec. 31 6,440 5,401 1,039 5,722 4,810 913 717 591 1929 Jan.31 6,735 5,664 1,071 5,983 5,043 939 752 621 Feb. 28 6,679 5,619 1,060 5,948 5,034 914 730 584 Mar. 30 6,804 5,713 1,091 6,210 5,231 979 594 482 Apr. 30 6,775 5,580 1,194 6,204 5,154 1,050 571 427 May 31 6, 665 5,482 1,183 6,100 5,061 1,039 565 422 June 29 7,071 5,797 1,275 6,444 5,333 1,111 627 464 July 31 7,474 6,154 1,320 6,870 5,705 1,165 604 449 Aug. 31 7,882 6,492 1,390 7,162 5,962 1,200 720 530 Sept. 30 8,549 7,077 1,472 7,832 6,543 1,289 717 534 Oct. 31 6,109 5,313 79G 5,238 4.639 599 871 674 Nov. 30 4,017 3,432 585 3,297 2,873 424 1 719 559 Dec. 31 3,990 3,370 620 3,376 2,883 494 613 487 1930 Jan. 31 3,985 3,368 61G 3,528 3,007 521 457 361 Feb. 28 4,168 3,529 639 3,711 3,162 548 457 367 Mar. 31 4,656 4,026 631 4,052 3,519 533 i 604 506 Apr. 30 5,063 4,409 654 4.363 3,819 543 I 700 590 May 31 4,748 4,139 609 3,967 3,464 503 781 675 June 30 3,728 3,201 627 2,980 2,521 459 747 680 July 31 3,689 3,227 462 3,021 2,607 414 668 620 S A e u p g t . . 3 3 0 0_... 3 3 , , 5 4 9 8 9 1 3 3 , , 0 1 5 0 7 9 4 4 8 2 9 5 2 2 , , 8 9 3 1 0 3 2 2 , . 4 4 5 8 1 1 4 3 3 8 1 0 O 6 OQ 5 oOf 1 > fD 6 tAO 0 O 6 fi Oct. 31..... 2,556 2,299 257 1,987 1,770 217 569 530 Nov. 29 2,162 1,929 234 1,691 1,481 210 471 447 Dec. 31 1,894 1,694 199 1,519 1,340 179 374 354 I Back figures.—See Annual Report for 1927 (Table 47) for figures for 1918-1922; figures for 1923-1925 not Digitized foar vFaiRlaAblSe.ER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BROKERS' LOANS 127 No. 58,—MEMBER BANK LOANS ON SECURITIES TO BROKERS (AND DEALERS IN SECURITIES) IN NEW YORK CITY, 1928-1930 [In millions of dollars] Call date m T b e o a A m n t l a k b l l s e - r b M a C Y N e n i m o k e t w r s y b k i i e n r M T e o m ta b l er ba I n c n a k g C s o h o i i u - tsid I r e n c e N s i o t e i t e r e h w v s e e r Yor O r k c e u i s t t e C i s r e i i v s d t e y e 1928— Oct 1,899 880 1,019 119 522 378 Dec 31 - - 2,556 1,639 917 75 465 376 1929—Mar 27 1,879 1,102 777 18 405 354 June 29 2,025 1,359 666 48 302 316 Oct 4 1,885 1,096 789 59 354 376 Dec. 31 . .. 1,660 1,202 459 11 239 208 1930—Mar. 27 2,344 1,477 868 140 469 258 June 30 2,365 1,883 482 99 253 129 Sept 24 2,472 1,714 757 233 409 115 Dec. 31 _._ 1,498 1,281 217 45 123 49 i Central reserve city banks only. No. 59.—MEMBER BANK LOANS ON SECURITIES TO BROKERS (AND DEALERS IN SECURITIES) OUTSIDE NEW YORK CITY, 1928-1930 [In millions of dollars] Member banks outside New York City Total— Member All mem- banks in Call date ba b n er ks C Y N i o e ty r w k i Total I c n a g C o h i i - I r n c e i s o t e t i r e h v s e e r O re c u s i t t e i s r e i v s d e e 1928—Oct. 3- 850 804 252 435 117 Dec. 31, 975 925 309 509 107 1929—Mar. 27. 1,014 962 311 114 June 29. 921 858 242 511 105 Oct. 4— 939 893 257 510 125 Dec. 31. 803 748 240 425 83 1930—Mar. 27 706 646 194 93 June 30. 819 750 229 431 90 Sept. 24 774 687 239 360 88 Dec. 31. 675 104 571 201 312 59 i Central reserve city banks only. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

128 ANNUAL EEPOET OF THE FEDERAL RESERVE BOARD BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING No. 60.—BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING, 1922-1930 [In millions of dollars] Bankers' acceptances outstanding i Commercial paper outstanding 2 End of month 1925 1926 1927 1928 1929 1930 1922 1923 1924 1925 1926 1927 1928 1929 1930 January 835 788 774 1,058 1,279 1,693 820 654 404 February 808 767 785 1,056 1,228 1,624 820 655 457 March 800 746 809 1,085 1,205 1,539 813 i 668 529 April 757 721 811 1,071 1,111 1,414 801 | 663 553 May 680 685 775 1,041 1,107 I 1,382 776 541 June 608 622 751 1,026 1,113 ! 1,305 759 527 July.. 569 600 741 978 1,127 I 1,350 528 August 555 583 782 952 1,201 I 1,339 722 526 September- 607 614 864 1,004 1,272 I 1,367 915 708 513 October 674 682 975 1,123 1,541 I 1,508 925 684 485 November... 690 726 1,029 1,200 1,658 i 1,571 448 December-.. 774 755 1,081 1,284 1,732 I 1,556 '98 621 357 i Figures collected and compiled by American Acceptance Council. Figures for earlier years as follows. March, 1922, $416,000,000; March, 1923, $524,000,000; March, 1924, $618,000,000; December, 1924, $821,000,000: * Paper maturing within 7 months. Figures reported by about 25 dealers to the Federal Reserve Bank of New York. No. 61.—DOLLAR BANKERS' ACCEPTANCES OUTSTANDING, BY CLASSES 1 [In thousands of dollars] Imports and exports on goods stored End of month Total Total [ ImportsExports 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 f e h o i t i n r w p e p o i e g e r e n d n countries 1930 January 1,692,794 846,032 336, 213 509,819 20,064 288,995 67,188 470, 515 February 1,623,899 809,626 334,840 474,786 25,831 256,051 62,829 469, 563 March 1, 539,286 779, 207 313, 674 465, 533 15,038 219,497 58,206 467, 337 April — 1,413, 717 724, 877 295, 686 429,191 18,139 170,866 56,563 443,272 May 1,382,207 700,904 294, 608 406, 296 20,672 157.931 60, 913 441,786 June 1,304,831 648,903 276, 087 372,816 19,115 I 144,929 50,120 441, 764 July 1,349, 695 639, 653 259 987 379, 666 29,415 137,098 48,487 495, 042 August 1,339,384 612,413 254', 942 357,471 26, 252 145, 286 53,819 501, 615 September 1,366,734 604,500 240,916 363,584 26.536 174,046 63,107 498,545 October 1, 508,244 651,198 244,107 407,091 31.341 i 234,989 57,812 532,904 November 1,571,418 ! 664,394 242.684 421,710 33,604 I 273,613 56,055 543,751 December 1,555,966 i 636,113 220, 972 415,141 34,726 I 271,484 52,202 561,443 1 Figures collected and compiled by American Acceptance Council. Back figures.—See Annual Reports for 1929 (Table 57), 1928 (Table 60), and 1927 (Table 49). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKERS' ACCEPTANCES 129 No. 62.—DOLLAR BANKERS' ACCEPTANCES HELD BY GROUP OF ACCEPTING BANKS [In thousands of dollars] End of month 1925 1926 1927 1928 1929 1930 January.. _ 222, 265 118, 956 54,987 79,968 79,246 220,467 February.. 185, 752 127, 580 166,485 90,090 89, 050 182, 930 March 192,994 132,104 L04,484 99,058 117,430 166,663 April 186, 221 137,144 86, 976 56, 397 95,129 157, 527 May 154, 650 107,389 94,561 58,183 87,396 165,611 Tune. 124, 606 66, 817 88, 947 71,289 84, 284 205,110 luly 116, 338 57, 630 86,412 52,642 90, 032 278,642 August. _. 93, 539 63, 644 132, 890 50, 331 82,378 267,337 September 88,878 47, 634 L03, 592 53,187 70, 768 316,678 October... 103, 643 56, 214 118,167 43,711 129,413 384,173 November. 85, 037 64, 444 116.913 50, 345 244,463 493,002 December. 92, 519 77, 007 104,999 75,842 191,061 371, 452 Note.—Banks included are those which report to the American Acceptance Council; figures include both own acceptances held and purchased acceptances held. No. 63.—PURCHASED ACCEPTANCES HELD BY MEMBER BANKS ON CALL DATES [In thousands of dollars] Member banks outside New York City j Member I Total—all banks in Call date j m b e a m nk b s er C Y N i o e ty w rk i Total In c ag C o h ] i- I r n e c s i o t e i t r e h v s e e r O re c u s it t e i s r e i v s d e e 1928—Oct. 3 . 180,977 104,418 76, 559 3,174 32,499 40,886 Dec. 31 212,170 122,422 89, 748 2,196 49,449 38,103 1929—Mar. 27. 238, 455 110,819 127, 636 12,471 62, 905 52, 260 June 29.. 197, 994 115, 570 82,424 4,203 38,176 40,045 Oct. 4.._ 162, 668 91, 746 70,922 5,002 33, 551 32, 369 Dec. 31.. 291, 527 173, 730 117, 797 13,877 37, 324 1930-Mar. 27 I 253,728 129, 379 124, 349 13,998 79, 538 30,813 June 30 241,106 172,883 68, 223 20, 728 35,464 12, 031 Sept. 24 267,366 175, 792 91, 574 20, 250 64,144 7,180 Dec. 31 369,747 210, 497 159, 250 31, 558 119, 714 7,978 1 Central reserve city banks only. NOTE.—Purchased acceptances only—i. e., exclusive of own acceptances held, which are reported in "all other" loans (see Table 46). No. 64.—DISTRIBUTION OF DOLLAR BANKERS' ACCEPTANCES OUTSTANDING [In thousands of dollars] Held by Federal reserve banks End of month (1930) T s o ta ta n l d i o n u g t- For for- H o e t l h d e r b s y Total a F c o c r o o u w nt n i r e e ig s n p o c n o d r - - O bi w ll n s bo B u il g ls ht ents 2 January... 1, 692, 794 819,147 293, 272 525, 875 63,130 157,337 653,180 February.. 1, 623, 899 772,139 269,170 502, 969 70, 737 112,193 668,830 March 1, 539, 286 759,739 277, 277 482, 462 71, 933 94, 730 612,884 April 1,413, 717 673, 944 208, 486 465, 458 54, 747 102, 780 582, 246 May 1, 382, 207 646, 824 183, 979 462, 845 62,630 102,981 569, 772 June 1,304,831 596, 449 126, 771 469, 678 63, 735 141, 375 503, 272 July 1, 349, 695 608,199 129, 045 479,154 62, 513 216,129 462,854 August 1, 339, 384 637, 664 166, 990 470, 674 95.127 172, 210 434, 383 September 1, 366, 734 639, 301 207, 667 431, 634 130, 904 185, 774 410, 755 October.... 1, 508, 244 574,501 141, 364 433,137 ] 72. 410 211. 763 549, 570 November. 1,571,418 571, 828 142, 986 428, 812 180, 207 312, 795 506,588 December. 1,555,966 767,149 327,861 439,288 281,806 417, 365 '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. Back figures .—See Annual Reports for 1929 (Table 58) and 1928 (Table 61). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

130 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD BANK DEBITS No. 65.—DEBITS TO INDIVIDUAL ACCOUNTS, BY BANKS IN 141 PRINCIPAL CITIES, BY MONTHS, 1921-1930 [In millions of dollars] Month 1921 1922 1923 1924 1925 1926 1927 1928 1929' 1930 TOTAL, 141 CITIES January 38, 029 34, 944 41, 753 41, 498 49, 982 54,145 54, 714 62,885 82,814 60,423 February- _ 29, 728 30, 585 35, 925 37, 398 41, 517 44, 915 48, 220 54,493 70,777 52, 625 March 33, 903 36, 932 42,185 40, 739 47, 623 56,464 58, 518 70,633 83,524 65,723 April 32, 235 36, 388 39, 294 39, 519 44, 558 51, 837 55, 583 67, 003 74,750 62,946 May. _ 32, 512 37, 976 40, 072 40, 044 46, 596 48,020 54,143 71,616 76, 535 61,811 June 33, 606 39, 236 40, 574 40, 230 48, 631 50, 662 56, 820 72,485 69,666 62, 312 July 31, 515 36, 056 36, 504 40,131 47,037 50,959 53,682 58,981 77,631 52, 744 August 30, 097 34,136 33, 496 38, 692 43,134 47, 011 53, 702 58, 504 77, 344 45, 993 September. 31,625 35, 768 34,060 38, 972 45, 264 46,954 56, 750 63,176 77,617 48,636 October 34, 323 40, 745 38, 911 43, 418 52, 955 52, 535 59, 201 72, 894 95, 527 54,460 November. 33,441 36,160 38, 504 41, 893 48, 367 47, 384 57,085 71, 349 82, 090 42,176 December.. 38, 020 40, 437 42, 448 49,157 54, 399 57, 070 65, 441 82, 386 66, 752 52,107 Total 399, 036 439, 361 463,726 491,691 570, 064 607, 956 673, 861 806, 405 935,027 661, 957 140 CITIES (EXCLUDING NEW YORK CITY) January 17, 996 15, 879 19, 666 19, 384 22, 301 23, 607 23,456 25, 001 28,095 25,691 February. _ 14, 599 14, 042 16, 906 17,512 18, 593 20,102 20, 781 21, 753 24, 489 21, 508 March 16, 550 16, 535 19, 644 19,193 21, 240 23, 458 24,026 25, 847 28,099 24, 983 April 15, 886 15, 671 18, 816 18, 865 20, 613 22, 537 23, 576 25, 225 26, 770 24, 315 May 15, 342 16, 322 19, 368 18,639 20,417 21, 449 22, 873 26, 346 26, 492 24,388 June 15, 852 17,173 19, 532 18, 304 21,702 22, 466 23, 812 27, 029 26,404 24, 621 July - 15,175 16, 343 18,184 18,662 21, 580 23, 300 22, 932 23, 897 28, 416 23,145 August 14, 911 15, 849 17, 307 17, 776 19, 869 20, 778 22, 048 23,401 28,310 20, 941 September. 15, 523 16, 553 17, 261 18, 238 20, 895 21, 336 23,381 24, 450 27,274 21, 253 October 16, 713 18, 423 19, 759 20, 912 24, 039 23. 780 25, 111 27, 705 32, 202 23, 679 November. 15, 949 17,133 18, 521 18, 846 21, 357 2i; 593 23, 803 25, 880 28, 486 19, 686 December- 17, 446 19, 586 20, 367 21, 830 24, 085 24,493 26, 503 29, 659 26,902 23,107 Total 191,941 199,509 225, 330 228,161 256,691 268, 900 282, 303 306,193 331,938 i 277,317 r Revised. Back figures.—See Annual Report for 1925 (Table 100); series begins with 1919. Corresponding figures for each Federal reserve district and for each reporting center are available in mimeographed form beginning with 1923 and may be had upon request; for earlier years see Annual Reports for 1923 (Pt. II, Table 10), 1922 (Pt. II, Table'9), and 1921 (pp. 278-297). NOTE.—Figures represent debits on the books of reporting banks to accounts of individuals, firms, and corporations, and of the United States Government, including war loan deposit accounts, also debits to savings accounts, payments from trust accounts, and certificates of deposits paid. Figures do not include debits to the accounts of other banks or in settlement of clearing-house balances, payment of cashiers' checks, charges to expense and miscellaneous accounts, corrections, and similar charges. Monthly figures are derived from weekly reports, the figures for weeks which do not fall entirely, within a single calendar month being prorated. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 131 BANK SUSPENSIONS Banks closed on account of financial difficulties by order of supervisory author ities or by the directors of the bank. Figures of suspensions include banks subsequently reopened. No. 66,—BANKS SUSPENDED AND REOPENED, BY YEARS, 1921-1930 Banks suspended Banks reopened Class of bank and year Number Capital Deposits Number Capital Deposits All banks: 1921 501 $22,802, 000 $196,460, 000 60 $1, 918, 000 $17, 493, 000 1922 .. 354 13, 743, 000 110, 721, 000 65 4, 003, 000 35, 565, 000 1923 648 21,943, 000 188, 701, 000 37 1, 516, 000 11,674,000 1924 .. 776 28, 358. 000 213,338, 000 94 2, 815, 000 22,462, 000 1925 612 24,441, 000 172, 900, 000 62 1,994, 000 16, 618. 000 1926 956 32, 804, 000 272,488, 000 149 5,134, 000 60, 610, 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 1929 642 32, 254, 000 234, 532, 000 58 3, 052, 000 25,829, 000 1930. 1,345 111, 643, 000 864, 715,000 147 6, 802,000 61,599,00O Total 6,987 332,466,000 2, 586, 388,000 806 32, 680,000 303,306, 000* Member banks: 1921... 70 5, 369, 000 42, 503, 000 10 475. 000 3,132, 000' 1922 57 3,956, 000 24, 243, 000 24 1,580,000 11, 618, 000 1923.. 124 6, 845, 000 51, 228, 000 14 685, 000 5, 068, 000 1924 159 10, 305, 000 74, 469, 000 20 860, 000 7,190, 000 1925 . 146 9,920, 000 67, 264, 000 14 800, 000 6, 779, 000 1926 160 8, 569, 000 68,812,000 14 710. 000 8,179, 000 1927 124 8, 034, 000 66, 336, 000 11 845, 000 8,311,000 1928-. ... 73 5, 175, 000 42, 240, 000 5 325, 000 6, 610, 000 1929 81 7,125, 000 57,135, 000 5 285, 000 2, 273, 000 1930.. _ 187 50,410,000 380,440,000 7 450,000 3, 538,000 Total 1,181 115,708,000 874, 670, 000 124 7,015,000 62, 698,000 National banks— 1921 51 3, 060, 000 21, 285, 000 8 325. 000 2, 499, 000 1922 45 3, 335, 000 19, 092, 000 22 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 18 785, 000 6, 895, 000 1925 118 7, 970, 000 58. 537, 000 11 700, 000 6, 300, 000 1926 125 6, 020, 000 47, 866, 000 10 490, 000 4, 665, 000 1927 91 5,415, 000 46, 581, 000 8 485, 000 5, 073, 000 1928 57 4,200, 000 31, 619, 000 2 75, 000 417, 000 1929 64 5, 095, 000 37, 007, 000 3 160,000 1, 607, 000 1930 161 19, 675,000 173,290,000 5 310, 000 1, 872,000 Total 924 67, 040, 000 529,070, 000 98 5, 230,000 41, 377,000 State banks— 1921 19 2,309, 000 21, 218, 000 2 150, 000 633, 000 1922 12 621, 000 5,151, 000 2 250, 000 3, 542. 000 1923 34 2, 235, 000 18, 324, 000 3 115, 000 1, 095, 000 1924 37 2, 645, 000 13, 580, 000 2 75, 000 295, 00O 1925 -. 28 1,950, 000 8,727, 000 3 100, 000 479, 000 1926 65 2, 549, 000 20, 946, 000 4 220, 000 3, 514, 000 1927 33 2, 619, 000 19, 755, 000 3 360, 000 3, 238, 000 1928 16 975 nnn 10, 621, 000 3 250, 000 6,193, 000 1929 17 ; 2.030 nnn 20,128, 000 2 125, 000 666, 000 1930 26 sn 735 nnn 207,150, 000 2 140, 000 1, 666,000 Total 257 48,668,000 345, 600, 000 26 1, 785,000 21,321,000 Nonmember banks: 1921 431 17, 433, 000 153,957, 000 50 1, 443, 000 14, 361, 000 1922 . 297 9, 787, 000 86, 478, 000 41 2, 423, 000 23,947, 000* 1923 524 15, 098, 000 137,473, 000 23 831, 000 6, 606, 000* 1924 617 18, 053, 000 138,869, 000 74 1,955-, 000 15, 272, 000. 1925 . 466 14, 521. 000 105, 636, 000 48 1,194, 000 9, 839, 000' 1926. 796 24, 235, 000 203, 676, 000 135 4, 424, 000 52, 431, 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 1929 561 25,129, 000 177, 397, 000 53 2, 767, 000 23, 556, 000 1930.. 1,158 61, 233, 000 484, 275, 000 140 6,352,000 58,061,000 Total 5,806 21 fi 758 nnn1,711,718,000 682 25, 665,000 240, 608, 000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

132 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 67.—BANK SUSPENSIONS, BY MONTHS, 1926-1930 [Amounts in thousands of dollars] Nonmember All banks Member banks banks Month Total National State Num- De- Num- Deber posits Num- De- Num- De- Num- De- ber posits ber posits ber posits ber posits 1926 January 65 13, 384 3,992 2,701 1,291 54 9,392 February 52 11,763 2,861 2,475 386 42 8,902 March 51 10,249 710 523 187 45 9,539 April 56 12, 512 3,534 1,322 2,212 50 8,978 May _. 68 16,324 4,234 3,338 896 58 12, 090 June 77 34,229 5,318 4,138 1,180 61 28, 911 July 140 48, 618 1,637 1,337 300 135 46, 981 August 52 10, 001 2,127 2,127 43 7,874 September-.. 37 12, 050 4,317 3,890 427 29 7,733 October 88 18, 209 6,280 5,165 1,115 69 11.929 November... 154 45,983 19, 389 14, 334 5,055 121 26. 594 JDecember 116 39,166 14, 413 6,516 10 7,897 89 24, 753 1927 January 133 32, 038 11, 555 5,662 5,893 106 20,483 February 81 25,157 8,744 7,566 1,178 65 16, 413 March 75 31, 222 7,700 5,501 2,199 59 23, 522 April 49 11, 750 5,462 3.769 1,693 39 6,288 May 47 13,198 6,434 5,564 870 36 6,764 June 41 10,784 5,521 1,932 3,589 32 5,263 July -.. 37 12,162 2, 638 2,638 35 9,524 August 27 17, 364 8,881 8,670 211 22 8,483 September. . 36 8,988 1,257 504 753 .30 7,731 October 44 11, 542 3,729 2,101 35 7,813 November.. 43 11, 210 3, 105 1,413 37 8,105 December... 49 8,476 1,310 1,261 42 7, 166 1928 January 10, 983 2,552 1,736 816 8.431 February... 18, 352 9,373 3,162 6,211 8,979 March 16, 953 3,026 1,783 1,243 13, 927 April 8,190 2,446 2,294 152 5,744 May 6,394 1,927 1,927 4,467 June 13,496 1,819 1,620 11,677 July 5,368 413 174 4,955 August 6,147 1,944 1,944 4,20b September.. 7,888 2,997 2,430 567 4,891 October 9,011 803 320 483 8,208 November.. 24, 784 11, 021 10, 609 412 13, 763 December—. 11, 076 3,919 3,620 299 7,157 1929 January 54 16,413 8,963 8,461 502 48 7,450 February 60 21,746 3,922 3,419 503 46 17,824 March _ 51 9,002 2,045 1,865 180 43 6,957 April 29 7,790 1,681 1,654 27 25 6,109 May 112 24, 090 4,458 3,835 623 105 19, 632 June 48 19, 219 2,661 2,335 326 41 16,558 July 69 66,161 21,9135 7,803 I 14,132 58 44, 226 August 17 8,532 879 284 595 14 7,653 September.. 39 10, 050 1,269 1,269 36 8.781 October 43 13,153 4,067 3,781 286 38 9,086 November. . 68 22, 646 2,226 353 1,873 64 20, 420 December.. . 52 15, 730 3,029 1,948 1,081 43 12, 701 1930 January 28,903 8,491 3,216 5,275 20,412 February 32,800 14, 236 14,186 50 67 18,564 March 23, 769 7,757 526 15,486 April 33, 388 3,322 2,911 411 30,066 May 19, 315 2,220 2,220 52 17,095 June 70,566 16,904 16,439 465 56 53, 662 July 32,333 11,155 11,155 56 21,178 August. 21,951 3,561 3,044 517 58 18, 390 September... 66 23,666 1,940 1,769 171 57 21, 726 October 72 24,599 3,336 3,336 62 21, 263 November.. 254 186,306 98,115 62, 373 7 35,74! 221 88,191 December... 344 367,119 I 208,877 49 44,884 7 163,993 288 158,242 Digitized for FBRaAckS EfigRur es.—See Annual Report for 1928 (Table 64). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANK SUSPENSIONS 133 No. 68.—BANK SUSPENSIONS: NUMBER, CLASSIFIED ACCORDING* TO CAPITAL STOCK ALL BANKS Banks having capital 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 Total stock of— Less than $25,000 194 117 295 319 234 384 247 191 223 466 2,670 $25 000 104 85 151 191 135 230 165 106 143 296 1,606 $25,100 to $49,000... - „ 31 39 49 55 46 100 60 38 67 140 625 $50,000 to $99,000....... 78 53 91 130 133 164 122 94 120 221 1,206 $100,000 to $199,000..... 47 24 32 61 43 46 47 46 58 131 535 $200,000 to $999,000 12 15 16 15 18 16 13 11 19 70 205 $1,000,000 and over 14 '5 »11 20 Not available 31 21 14 5 3 16 8 5 7 10 120 Total 501 354 648 776 612 956 662 491 642 1,345 6,987 NATIONAL BANKS $25,000... 23 44 46 31 56 326 $25,100 to $49,000 20 6 15 81 $50,000 to $99,000 14 45 40 39 315 $100,000 to $199,000 12 12 30 136 $200,000 to $999,000 1 3 2 2 19 63 $1,000,000 and over | <2 3 Total.. 51 45 90 122 118 125 57 64 161 924 STATE MEMBER BANKS Less than $25,000 | 2 3 $25 000 2 4 11 9 5 13 3 4 8 70 $25,100 to $49,000 3 5 2 4 •! 7 4 2 2 2 32 $50,000 to $99,000 7 1 14 10 S 12 4 6 5 5 72 $100,000 to $199,000 5 1 4 12 7 8 5 5 4 56 $200,000 to $999,000 1 1 3 2 2 2 4 3 18 $1,000,000 and over 1 1 «4 6 _. _ Total 19 12 34 37 28 35 33 16 17 26 257 NONMEMBER BANKS Less than $25,000 194 117 295 319 233 382 247 191 223 466 2,667 $25,000 79 67 99 138 83 179 121 88 124 232 1,210 $25,100 to $49,000 26 29 37 42 40 73 50 33 59 123 512 $50,000 to $99,000 57 39 51 78 79 107 78 64 89 177 819 $100,000 to $199,000 33 16 19 30 23 27 27 31 40 97 343 $200,000 to $999,000 8 8 9 5 5 12 7 6 16 48 124 $1,000,000 and over i 3 23 «5 11 Not available 31 21 14 5 3 16 8 5 7 10 120 Total 431 297 524 617 466 796 538 418 561 1,158 5,806 i Includes 1 bank with capital of $1,309,000. a Includes 1 bank with capital of $1,225,000. 3 Includes 1 bank each with capital of $1,218,000, $1,750,000, $2,500,000, $4,000,000, $4,877,000, and $25,250,000. «Includes 1 bank with capital of $4,000,000. «Includes 1 bank with capital of $1,750,000 and 1 with $25,250,000. «Includes 1 bank each with capital of $1,218,000, $2,500,000 and $4,877,000. No. 69.—BANK SUSPENSIONS, BY SIZE OF TOWN OR CITY, 1921-1930 Number of suspensions Places with population of— 1921 1922 1923 1924 1925 1926 | 1927 1928 1929 1930 Total ! Less than 500. . 181 120 331 335 226 372 266 207 240 442 2,720 500 to 1,000 99 75 104 158 130 204 142 93 128 278 1,411 1,000 to 1,500 47 23 58 71 67 115 61 48 77 128 695 1,500 to 2,500... 39 44 55 75 56 88 j 65 52 63 137 674 2,500 to 5,000... 33 30 35 55 60 79 i 53 33 35 119 532 5,000 to 10,000.. 32 18 24 28 32 30 22 18 35 60 299 10,000 to 25,000. 21 12 14 22 18 22 30 17 24 57 237 25,000 and over 49 32 27 32 23 46 23 23 40 124 419 Total.... 501 354 648 776 612 956 662 491 642 1,345 6,987 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

134 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD CHANGES IN MEMBERSHIP IN THE FEDERAL RESERVE SYSTEM ' No. 70.—SUMMARY OP CHANGES IN MEMBERSHIP, BY YEARS, 1926-1930 Number of banks 1926 1927 1928 1929 1930 Active member banks, first of year. 9,489 9,260 9,034 8,837 8,522 Banks joining the system *_ 174 154 115 127 93 Banks withdrawing from the system 2 125 101 120 185 176 Net accession to membership _ 49 53 3 -5 3-58 3 -83 Banks lost to membership through mergers between member banks, suspensions, etc 278 279 192 257 387 Net decrease for the year__ 229 226 197 315 470 Active member banks, end of year 9,260 9,034 8,837 8,522 8,052 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; 1929, 95; 1630, 109. 8 Net loss owing to withdrawals. Back figures.—See Annual Report for 1925 (Table 93). No. 71.—CHANGES IN MEMBERSHIP, BY CLASS OF MEMBER, 1929 AND 1930 Number of member banks Procedure effecting change Total National State 1929 1930 1929 1930 1929 1930 Active member banks, first of year _ 8,837 8,522 7,629 7,403 1,208 1,119 Additions to membership: Organization of national bank.. . _ . 71 33 71 33 Conversion of nonmember bank to national 24 35 24 35 Admission of State bank 27 18 27 18 Resumption following suspension 5 7 3 5 2 2 Conversion within the system i 6 2 6 3 Total additions 127 93 104 75 35 23 Losses to membership: Merger between member banks- National and National, or State member and State member - _ _ _ _. 132 158 109 143 23 15 National and State member _ 39 41 25 22 14 19 Voluntary liquidation (terminal) 3 4 3 3 1 Suspension and insolvency __ _ 82 * 185 65 * 159 17 26 Absorption of member bank by nonmember bank. 95 109 79 96 16 13 Conversion of member bank to nonmember bank- 49 25 43 19 6 6 Withdrawal of State bank 342 241 3 42 241 Conversion within the system! 6 3 6 2 Total losses 442 563 330 445 124 123 Net decrease 315 470 226 370 89 100 Active irtP.nibPT bvikp, W\<\ of year 8,522 8,052 7,403 7,033 1,119 1,019 1 Conversions between 2 classes of member banks, without effect on the number of banks in the system. 2 Includes 2 compulsory withdrawals. 3 Includes 1 compulsory withdrawal. 4 Exclusive of 2 banks which suspended in 1930 but which were included in the comptroller's Dec. 31, 1930, abstract. Back figures.—SeeA nnual Reports for 1929 (Table 65), 1927 (Table 117), 1926 (Table 97), and 1925 (Table 93). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 135 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS No. 12.—MEMBER BANKS—EARNING ASSETS, CAPITAL FUNDS, AND PROFITS, 1923-1929 Amounts ] (in thousands of dollars) Ratios2 Principal earning assets Earning Net Net Year ending Dec. 31 assets profit profit Total Loans I m nv e e n s t t s - C fu a n p d i s ta 3 l p c e f a r u p n i $ t d 1 a s l of p o a e f r s i e n s $ a e g 1 r t 0 s n 0 - j j p c e f a u r o p n $ f i d t 1 a s 0 l 0 All member banks: 1923. 26, 206,988 18,531,961 7, 675,027 4. 380,074 $5.98 $1.29 $7.69 1924 27,474, 727 19, 347, 300 8,127,427 4, 491, 663 6.12 1.32 8.04 1925 J 29,673, 891 20,809,107 8, 864, 784 4, 589, 294 6.47 1.41 9.14 1926... 31,132,149 22,123, 397 9, 008, 752 4, 820,129 6.46 1.39 8.95 1927 32, 755,971 23,005,039 9, 749,932 5,162, 702 6.34 1.36 1928 34, 721, 879 24,153,677 10, 568, 202 5, 622, 312 6.18 1.45 1929 35, 727,128 25, 614, 65510,112,473 6, 360, 306 5.62 1.56 8.75 National member banks: 1923 16, 713, 739 11, 725,163 4, 988, 576 2, 890, 930 5.78 1.16 6.72 1924. 17, 233,431 12,007,447 5, 225, 984 2, 916,791 5.90 1.24 7.33 1925. 18,430, 579 12, 729, 675 5, 700, 904 2, 970, 453 6.20 1.32 8.22 1926 19,135, 960 13, 353,101 5, 782, 859 3, 077,183 6.22 1.28 7.96 1927 20, 349, 562 13, 949, 969 6, 399, 593 3, 254, 507 6.25 1.26 7.91 1928 21, 858, 250 14, 789, 566 7,068, 684 3, 543, 609 6.17 1.33 8.21 1929... 21, 751, 748 15, 007, 570 6, 744,178 3, 750, 521 5.80 1.34 State member banks: 1923 9,493, 249 6, 806, 798 2, 686,451 1,489,144 6.37 1.50 6.72 1924... 10, 241, 296 7, 339, 853 2,901, 443 1, 574, 872 6.50 1.44 9.37 1925 11, 243, 312 8, 079, 432 3,163, 880 1, 618, 841 6.95 1.56 10. 83 1926 11,996,189 8, 770, 296 3, 225, 893 1, 742, 946 6.88 1.55 10.70 1927 12, 406,409 9, 056,070 3, 350, 339 1, 908,195 6.50 1.53 9.94 1928 12, 863, 629 9,364,111 3, 499, 518 2, 078, 703 6.19 1.66 10. 25 1929 13, 975, 380 10, 607, 085 3, 368, 295 2, 609, 785 5.35 1.90 10.16 * Figures are averages of amounts for call dates during year. 2 For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828. 3 Capital, surplus, undivided profits, and reserves for dividends, contingencies, etc., including, in 1923 and 1924 only, reserves for taxes, interest, etc., accrued. No. 73.—MEMBER BANKS—RATIOS OF EARNINGS, EXPENSES, ETC., TO AVERAGE EARNING ASSETS, 1923-1929 [Amounts per $100 of earning assets] Gross earnings Expenses Losses 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 t s Total Net pr N of e i t ts All member banks: 1923 $6.56 $5.70 $4.70 $2.09 $0.79 $0.57 $1.29 1924 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 1.39 1927.. 6.47 5.34 4.63 2.18 .64 .48 1.36 1928 6.58 5.49 4.65 2.16 .63 .48 1.45 1929 6.92 5.79 4.71 2.13 .83 .65 1.56 National member banks: 1923 6.37 5 76 4.53 1.97 .93 .67 11* 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 2.07 .76 .57 1.28 1927 6.34 5.44 4.52 2.12 .73 .56 1.26 1928 6.41 5.54 4.52 2.10 .72 .56 1.33 1929 6.64 5.73 4.54 2.07 .92 .76 1.34 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 1928 6.86 5.40 4.87 2.25 .46 .34 1.66 1929 7.38 5.88 4.98 2.21 .68 .50 1.90 NOTE.—For explanation of these ratios, see Federal Reserve Bulletin for December, 1928, pp. 826-828. 33454—31 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

136 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 74.—MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, 1923-1929 fin thousands of dollars] Gross earnings Expenses Interest paid Year ending Dec. 31 Sal- Interest All aries All Total earned other Total On bor- and Taxes other On de- rowed wages posits money All member banks: 1923 1,719,360 1,493,755 225,605 1,232,654 547,910 42,151 335,680 102,673 204,240 1924 1,786,471 1,514, 500271,971 1,280, 524594, 432 24,746 355,018 97,341 208,987 1925 1,918,094 1,615,595 302,499 1,367,318 643,158 25,954 372,741 102,411 223,054 1926 2,027,752 1,710,492 317,260 1,441,745 672,927 31,350 396,796 105,885 234,787 1927 2,120,277 1,749,008 371.269 1,515, 704713,038 24,514 420,128 109,778 248,246 1928 1,905,728 378.270 1,613,811 749,662 48,443 440,000 113,759 261,947 1929 2,474,099 2,068,901 405,198 1,683, 720759,260 64,265 463,847 112,476 283,872 National member banks: 1923 1,064,295 963,443 100,852 757,802 329,304 29,641 205,391 69,873 123,593 1924 1,093,832| 960,601 133,231 776,070 356,311 17,001 213,994 64,676 124,088 1925 1,159, 595: , 015,352144, 243 822,255 382,483 17,172 223, 756 66,645 132,199 1926 1, 210,911 060,589 150,322 856,765 395,352 20,089 235,969 68,270 137,085 1927 1,289, 297, , 107,242182, 055 918,816 431,763 15,429 253,634 69,219 148,771 1928 1,401,471 ,211,259 190, 212 987,739 459,819 29,184 269,429 69,872 159,435 1929 1,443,303 , 247,125196,178 987,140 450,258 37,350 271,103 64,333 164,096 State member banks: 1923 655,065 530,312 124, 753 474,852 218,606 12,510 130, 289 32,800 80,647 1924 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 830,980 641, 766189, 214 596, 888 281, 275 9,085 166,494 40, 559 99,475 1928 882,527 694,469 188,058 626,072 289,843 19,259*170,571 43,887 102,512 1929 1,030,796 821, 776209,020 696,580' 309,002 26,915 192, 744 48,143 119,776 Losses Net Divi- Year ending Dec. 31 e i a n r g n s - Total lo O a n ns i m n O v e e n n s t t s - o A th l e l r R e e r c ie o s v- lo N s e se t s pr N o e fi t ts c d l e d a n e r - e d d s All member banks: 1923- 486,706 207,127! 143,0111 36,411 27,705 57,307: 149,820 336,886 257,933 1924___ 505,947 197,343 jj 133,079 33,196 31,068 52, 739! 144,604 361,343 258,044 1925 550,776 193,0991! 128,774i 35,127 29,198 61,806 131,293 419,483 272,686 1926 586,007 207,530!! 124,885i 35,909 16, 736 53,006: 154, 524 431,483 284,809 1927 604,573 208,693j 123,745! 37,284 47,664 51,129i 157,564 447,009 312,680 1928 670,187 217,194 i 119,290| 45,293 52,611 50,875 166,319 503,868 327,422 1929 790,379 295,473; 139,588 95,465 60,420 61,608| 233,865 556, 514408,628 National member banks: 1923 306,493 154,753' 108,819, 26,450 19,484 42, 6421 112,111 194,382 166,492 1924. 317,762 140,250! 97, 582 23,960 18, 708 36, 270! 103,980 213, 782162, 636 1925. 337,340 136,269! 92,127 23,692 20,450 43,122i 93,147 244,193 171,324 1926 354,146 145,831! 88,017 26,261 31,553 109,169 244,977 176,421 1927--. 370,481 148, 225! 91,214 25,665 31,346 35,027 113,198 257,283 197,555 1928 413,732 158,254 88,077! 34,455 35, 722 35, 282 122, 972 290, 760204,612 1929 456,163 200,633; 93, r" 63,304 43,649 35,854 164, 779 291,384 247,317 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 57,093j! 35,497 9,236 12,360 16,469 40,624 147, 561 95,408 1925— 213,436 56,83011 36,647 11,435 8,748 18,684 38,146 175,290 101,362 1926. 231,861 61,699| 36,868 9,648 15,183 16,344 45,355 186,506 108,388 1927 234,092 60,468! 32, 531 11,619 16,318 16,102 44,366 189,726 115,125 1928- 256,455 58,940! 31, 213 10,838 16,889 15, 593 43,347 213,108 122,810 1929 334,216 94,840| 45,908 32,161 16,771 25,754 265,130 161,311 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKING CONDITIONS IN FEDERAL RESERVE DISTRICTS AND STATES 137 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONDITION OF EACH FEDERAL RESERVE BANK No. 75.—BILLS DISCOUNTED FOR MEMBER BANKS1—HOLDINGS OP EACH FEDERAL RESERVE BANK, BY MONTHS, 1926-1930 [Monthly averages of daily figures. In millions of dollars] Federal reserve bank Month 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 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 i a t s n y - D la a s l- F c S i r a s a c n n o - - 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 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 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 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 69.9 45.5 55.6 90.1 42.2 11.0 12.4 19.1 62.3 November 38.6 134.6 43.1 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 89.3 29.3 47.1 118.6 37.9 4.9 13.3 10.0 46.8 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 I 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 I 218 6.0 12.5 7.4 45.8 August.. 29.9 118.4 39.6 27.8 19.7 34.7 40. 5 I 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 I 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 I 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 i 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 O3O8 .9ft i 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 48.0 136.1 i 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 I 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 | 10.4 44.2 17.9 60.3 1929 January 60.4 245.9 73.1 79.7 40.7 58.5 142.7 37.4 12.0 33.3 20.6 55.0 February 61.9 216.3 85.5 84.7 41.0 55.8 !165.9 37.8 12.8 32.5 19.2 75.8 March 58.6 231.5 101.6 76.0 43.4 51.7 ; 210.6 48.1 15.6 31.8 14.8 85.0 April... 75.8 264.6 110.0 96.6 52.6 63.6 133.4 51.8 19.3 38.8 18.6 79.3 May 96.5 234.5 86.7 93.8 58.1 73.4 109.8 48.7 18.1 49.1 23.1 64.4 June 99.4 251.2 84.7 90.9 56.6 65.9 ; 135.9 49.9 15.2 48.3 22.3 57.7 July 78.4 408.6 77.3 84.0 57.5 69.0 I122.1 55.8 17.4 35.3 30.2 60.1 August 79.5 303.3 92.8 79.7 59.6 75.1 | 120.0 67.2 24.3 33.7 43.4 64.9 September 71.3 230.9 90.6 78.8 60.1 69.6 i103.9 72.7 34.4 38.8 41.3 76.4 October.. 60.7 160.0 78.7 95.2 53.1 57.6 i120.2 54.7 41.2 44.6 31.6 86.9 November 46.9 154.7 106.8 124.4 51.9 59.1 I139.3 47.1 28.6 57.7 30.2 106.0 December 40.4 188.3 80.2 98.4 41.8 43.0 133.0 30.9 17.4 45.9 19.1 65.0 1930 January 23.9 111 8 53.7 72.8 30.8 31.7 87.4 17.7 7.0 28.1 13.3 22.5 February 23.2 70.5 50.5 53.3 22.2 25.3 63.0 16.7 3.0 23.0 11.9 15.1 March .__ 21.1 54.3 36.7 31.1 16.8 21.6 35.2 14.0 2.4 16.2 8.3 15.8 April 15.6 53.7 28.3 25.7 16.0 18.8 22.7 13.9 3.1 12.8 7.5 13.1 May .._. 17.7 58.0 29.8 21.0 17.2 27.6 20.6 15.5 3.8 15.2 8.7 11.8 June 17.3 57.1 28.1 23.6 19.7 30.4 18.1 18.1 3.8 14.2 10.2 10.6 July 12.6 44.0 24.4. 24.9 19.8 28.9 19.0 16.3 4.2 10.4 11.5 10.0 August.. _. 12.6 47.6 18.2 15.7 21.4 29.9 16.5 15.1 4.4 9.2 13.9 9.5 September 11.6 32.2 16.4 14.6 20.0 28.2 14.4 17.7 4.1 8.8 13.2 7.6 October 8.9 36.7 17.5 25.0 18.9 24.8 15.8 17.3 4.3 10.3 10.2 6.7 November 12.3 42.6 19.6 27.1 21.7 26.6 18.5 17.4 3.8 14.0 8.4 8.9 December 17.3 90.3 27.5 37.9 33.1 30.4 26.4 14.2 3.9 16.0 6.9 33.7 1 Including small amounts of bills discounted for intermediate credit banks, etc.; see Tables 12 and 97. Back figures .—See Annual Reports for 1928 (Table 72), and 1927 (Table 55). 139 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

140 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 76.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1930, BY CLASSES [In thousands of dollars] Rediscounted bills Member banks' collateral Collateral Total Commer- Paper notes notes Federal reserve bank cla ( s a s l e l s) c a p i g t a a u r l p i r a c a e u n l r l , d - a D n d e d r m a s f a i t g n s h d t B a a a c n n c c k e e p e s r t- s' a T a c n r c a c e d e p s e t- m b G s y e e o c n v U u t e r . r e o S n d b - . - m b G s y e e o c n v U u t e r . r o e S n d b - . - s o e w c th u is e r e e r- d n. e. s. ligations ligations Boston 13,238 7,211 147 5,880 New York 61,898 11,623 210 24,441 25,624 Philadelphia. _ 25,663 9,417 303 1 10,271 5,671 Cleveland 37, 216 9,156 200 54 20,875 6,931 Richmond. 22, 766 15, 438 102 67 3,168 3.991 Atlanta 18,069 13, 366 68 287 145 343 3,860 Chicago 22,804 11,102 59 9 10, 882 752 St. Louis .- -_ 11, 301 2,080 11 61 98 4,865 4,186 Minneapolis 3,576 2,960 23 56 347 190 Kansas City _. 15,042 9,226 13 1,286 4,517 Dallas 4,342 2,715 8 744 875 San Francisco. 15,483 3,869 21 6 5,887 5,700 Total 251, 398 98,163 1,413 449 88,989 62, 297 Back figures—See Annual Reports for 1929 (Table 70), 1928 (Table 73), 1927 (Table 56), etc. No. 77.—DISCOUNTED BILLS—HOLDINGS OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1930, 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 _. . 13, 238 9,816 1,013 1,487 847 74 1 New York 61, 898 52,853 2,209 3,760 2,987 89 Philadelphia 25. 663 19,121 2,525 2,730 1,249 38 Cleveland 37, 216 30,401 2, 073 2,917 1,522 291 12 Richmond 22,766 10,855 3,621 4,993 2,824 467 6 Atlanta 18,069 7,273 2,667 4,090 3,127 811 101 Chicago 22, 804 13,881 1,741 2,951 3,107 1,055 69 St. Louis 11,301 9,279 ooo 612 500 318 260 Minneapolis 3,576 951 106 307 548 1,296 368 Kansas City 15, 042 6,888 698 1.760 1,841 3,729 126 Dallas . 4,342 2,248 380 594 402 672 46 San Francisco 15,483 11,935 294 765 505 1,794 190 Total 251, 398 175, 501 17, 659 26, 966 19,459 10, 634 1,179 Back fgun.—See Annual Report for 1929 (Table 71), 1928 (Table 69), 1927 (Table 57), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

141 EACH FEDERAL RESERVE BANK No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS BOSTON [In thousands of dollars] Bills bought in United States Deposits Total op<m market securities Federal bills Bills Total reserve Date se t a i c n e u d s r i i- co d u i n s- ted Bought U a r m e g n s e r d a e n e l e t e r - B r o o i u u g t g h - h t t U r a m e g n s e r d a e n e l e t e r - c s a e s r h v e re s - Total b b r e M a e r l s a e e b n m r a c v - n e e k s p O o d t e s h - i e ts r n c o i t r t i e c o s u n l i a n - 1930 Jan. 8... 65, 757 22, 444 5,952 10,511 25, 850 303,668 160, 023 155, 888 4,135 193,015 Jan. 15... 64,929 19,180 8,770 9,106 26, 873 285, 592 150, 766 149,076 I 1,690 183, 635 J J a a n n . . 2 2 9 2 . . . . . . 6 7 8 0 , ,7 7 9 3 0 4 2 26 2 , ,4 4 4 5 0 6 10 9 , , 9 0 0 8 7 1 8 6 , , 3 5 4 3 0 6 2 2 6 6 , , 8 8 7 9 3 1 2 26 7 8 4 , , 1 7 1 7 0 0 1 1 5 5 1 0 , , 6 0 3 1 8 8 1 1 4 4 8 6 , , 8 6 7 1 4 8 I | 2 3 , , 7 4 6 0 4 0 1 1 7 6 0 6 , , 0 9 7 5 9 8 ! Feb. 5... 64,446 22, 787 9,060 4,708 26, 891 275,147 150,167 147. 472 2,695 165,423 Feb. 12.. 63,258 20, 345 7,696 7,326 26, 891 266, 534 169, 473 147,695 21, 778 160, 737 F F e e b b . . 2 19 6 . . _ . 6 69 5 , ,1 2 6 4 7 4 2 26 3 , , 2 5 8 4 9 4 8 7 , ,5 2 1 9 3 3 5 5, , 9 9 6 2 5 3 2 2 7 7 , , 4 4 4 4 2 2 2 2 5 6 8 5 , , 0 22 7 5 0 1 1 4 4 8 6 , , 1 2 4 6 4 0 1 1 4 4 5 3 , , 2 6 3 6 6 0 2 2 , , 6 90 0 8 0 1 15 5 8 9 , , 3 6 1 7 2 1 Mar. 5... 62, 981 22, 656 7,762 4,121 27, 442 266, 267 145, 204 144,421 783 163, 635 Mar. 12.. 61, 636 22, 705 6,184 4,305 27,442 267,135 149, 300 148,657 643 159,237 Mar. 19.. 55,984 18, 365 5,227 523 30, 869 270,369 145,817 144, 903 914 160,968 Mar. 26.. 59, 737 18, 575 5,020 4,819 30, 323 265, 683 144,396 143,391 1,005 161,112 Apr. 2... 77, 635 19, 492 7,657 9,163 40,323 253, 818 149, 247 147, 260 1,987 163, 396 Apr. 9... 76,817 15, 731 10, 559 9,204 40, 323 254, 423 147, 304 145, 403 1,901 163,117 A A A p p p r r r . . . 2 3 16 3 0 . . . _ . . 7 7 7 2 0 0 , , , 1 6 2 3 9 0 5 8 2 1 1 1 3 3 3 , , , 7 9 9 3 3 3 7 7 2 8 9 9 , , ,9 9 4 3 0 3 1 7 9 7 5 7 , , , 1 0 0 6 1 0 6 6 1 4 4 4 0 0 0 , , , 3 3 3 2 2 2 3 3 3 2 2 2 5 6 6 6 1 7 , , , 8 8 2 2 3 1 9 4 4 1 1 1 4 5 5 4 1 3 , , , 1 3 5 2 1 9 1 4 4 1 1 1 4 4 4 7 2 8 , , , 9 7 0 8 4 2 8 0 2 4 3 1 , , , 3 9 3 8 7 2 1 2 6 1 1 1 6 5 6 4 9 0 , , , 9 9 5 9 8 0 1 4 0 May 7... 71,349 14, 979 9,677 5,370 40, 323 259, 801 148, 059 143, 794 4,265 160,388 May 14. _ 75, 576 19, 578 9,200 5,475 40, 323 252. 982 150, 568 149, 724 844 156,792 M M a a y y 2 2 8 1 . . . . 7 7 6 7 , , 8 8 0 9 5 3 1 19 8 , ,0 7 6 1 9 2 1 12 2 , , 6 5 1 1 1 0 4 4, , 2 9 4 0 7 3 4 4 0 0 , , 3 3 2 2 3 3 2 24 4 4 6 , , 8 6 9 5 9 5 1 1 4 4 6 4 , , 6 5 8 4 4 6 1 13 4 8 2 , , 6 20 9 9 0 4 5 , , 3 9 3 9 7 4 1 15 5 5 4 , , 8 7 5 4 5 8 June 4. _._ 73,658 16, 586 11, 306 3,289 41, 477 252, 783 148,845 145,851 2,994 154,790 June 11.. 80,316 17,171 14, 310 3,574 44, 261 240, 268 147,639 144,210 3,429 149,316 June 18.. 75,419 15, 322 13, 251 1, 585 44, 261 239,785 148, 067 147, 494 573 146,869 June 25.. 78,841 17, 307 12, 818 3,456 44, 260 236, 600 146,337 140, 997 5, 340 145, 746 July 2... 76,056 17, 590 11,068 2,138 44, 260 253,534 156,192 153, 665 2,527 151,047 July 9... 75,856 15,447 11, 708 3,441 44,260 246,113 152, 048 149,253 2, 795 145,590 July 16.. 75,942 11,416 14, 915 4,351 44, 2G0 241,233 150,282 149, 208 1,074 146, 590 July 23.. 73,160 8,895 16, 440 2, 565 44, 260 241,405 149, 895 147,975 1,920 141,064 July 30.. 73,125 10,000 15, 926 1 44, 260 234,170 145, 367 142, 077 2,690 133, 601 Aug. 6... 71,651 10,142 15,799 451 44, 259 241,251 150,289 147, 232 3,057 139,346 Aug. 13.. 75,489 10,936 16,032 1,344 46,177 234, 397 150,918 148,701 2,217 135,667 A A u u g g . . 2 2 7 0 . . . . 7 7 8 8 , , 9 34 8 9 2 1 14 2 , , 8 82 8 3 4 1 16 6 , , 0 6 5 3 9 8 1,7 8 1 6 1 2 4 4 6 6 , , 1 1 7 7 7 7 2 2 2 1 5 9 , , 4 9 2 6 3 0 1 1 4 4 7 4 , , 4 02 6 3 7 1 14 4 2 5 , , 9 58 9 2 2 1 1 , ,4 4 4 7 1 5 1 13 3 2 3 , ,1 7 4 7 0 0 Sept. 3... 79,255 14,097 16, 382 1,599 46,177 228, 279 149, 109 145, 739 3,370 135, 743 Sept. 10.. 80, 230 10,893 20, 059 2,102 46,176 225,1'48 147, 983 146, 589 1, 394 133, 915 Sept. 17.. 78,963 9,966 20, 337 1, 484 46,176 227, 649 150,652 150, 140 512 132, 219 Sept. 24.. 79,875 10, 231 20, 539 1,929 46,176 222, 269 149,108 144, 721 4,387 130,449 Oct. 1... 80,428 12, 512 19, 807 933 46,176 221, 920 149,013 146, 279 2,734 132, 703 Oct. 8... 79, 537 9,519 21, 209 1,634 46,175 227,008 151, 353 148, 391 2,962 133,134 Oct. 15... 73, 792 9,067 15, 304 2,246 46,175 238, 487 155, 046 151, 675 3,371 134,515 Oct. 22... 70,496 6,117 14, 391 2,814 46,174 235, 987 154,865 152, 736 2,129 130,646 Oct. 29.. 70,664 9,147 13,664 679 46,174 226, 971 148, 801 145, 835 2, 966 128,831 Nov. 5... 70, 385 8,399 14, 800 13 46,173 229, 370 156,358 151, 595 4,763 130,090 Nov. 12.. 73, 603 10,799 15, 363 268 46,173 230,631 154,772 152, 936 1,836 128, 515 Nov. 19.. 77, 718 13, 981 15, 027 395 47, 315 226,926 161,129 158,155 2,974 124,921 Nov. 26.. 79, 358 16,058 13, 561 992 47, 747 213, 270 144,880 143,577 1,303 128,127 Dec. 3... 80,127 14, 036 16, 335 1, 441 47,315 223,124 152,426 147, 721 4,705 130,568 Dec. 10.. 80,006 12, 921 19, 206 955 46,924 217, 851 146,946 146, 248 698 129, 857 Dec. 17.. ! 83,430 14, 549 19,287 1,818 46, 926 220,109 147, 868 146, 993 875 132, 564 Dec. 24.. 92,302 24,869 17,930 1,727 46,926 212,780 147,381 143,950 3,431 138,842 Dec. 31. _ I 89,328 13,238 22, 667 2,648 49, 925 211,365 152, 255 150,936 1,319 132,035 1 Includes "other securities." Back figures for all Federal reserve districts.—See Annual Report for 1929 (Table 72), 1928 (Table 76), 1927 (Table 58), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

142 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued NEW YORK [In thousands of dollars] Bills bought in United States Deposits open market securities Federal Bills Total j reserve Date co d u i n s- ted B r o o i u u g g t h - h t t U a r m e g n s r e d a e n e l e t e r - B r o o i u g ut g h - t ht U a r m e g n s e r d a e n e l e t e r - c s a e s r h v e r s e - ! | Total b b r e M a e r l s e a e b m n r a v c - n e e k s p O o d t s e h i - e t s r n c o i t r t i c e o s u n l i a n - 1930 Jan. 8 506,319 131,177 53,405 98,931 206,991 8,265i 864,041 974,021 956,073 17, 948308, 083 Jan. 15— 444,361 70, 626 45,461 10"5",',243 210,801 2,380 916, 274 984, 708 969, 54715,161 294,941 Jan. 22— 427, 219 89, 655 35, 73781, 527 210,800 J 916,924 970, 060 952, £45 17,815 286, 291 Jan. 29— 377,006j 65,104 31, 51062,192 210,800! 944,119 947,188 931,816 15, 372274,034 Feb. 5 — 383,373! 54, 720j 39,518 70,045 210,800 1,140^ 939,600 970,166 956,483 13, 683258, 575 Feb. 12.. 387, 589) 79, 298! 39, 581 50,110 210,800! 1,550! 917,938 955, 665 942, 921 12, 744250,183 Feb. 19.. 403,023! 88, 7871 36,449 48,909 213,728 2,900! 920,138 990,078 946, 08043,998 235,702 Feb. 26- 365,148! 58,404 j 25, 58851, 249 213, 507 4, 750| 963,916 1L., 011,805 985, 26826, 537221,318 II Mar.5— 337,3541} 39, 6791 23,820 41, 270 221,3351 1,050; 915,156 949,316 932,446 16, 870211, 032 Mar. 12.. 337,186! 33,148| 16,125 44,433 231,430 2,000' 931,121 967, 504 957, 233 10, 271202, 268 Mar. 19.. 297,965| | 30,810 6,635 796 250,974 2,000 925,291 928, 527 917,944 10, 583 196, 550 Mar. 26- 368,882j| 36,858! 4,176" 101,574 217, 064 2,460 916,153 981,640 954,721 26,919 196,860 Apr. 2..., 414,0161 i 53,8671 20,456 12122,,329 207, 564 3,050! 870,914 997,919 975,450 22,469 196,502 Apr. 9—_ 379,744M 62, 674! 20,078 82,678 207,564 ! 884,768 971,341 957,724 13, 617184, 389 Apr. 16.. 380,091!! 43,916 26,17733 10" 1, 199 192, 8631 8, 090 893, 614990,340 968, 56021, 780180,909 Apr. 23.. 308, 273: 34,126 9,437 64,647 192,863) | 943,007 975,140 957, 671 17,469 174, 615 Apr. 30... 293, 932| 4I,270i 12,105 37, 689 192,863 2,305) 996,209 L1,, 006, 014 991,131 14,883 175,803 j! May 7 295, 659 ij 57,185; 8,010 29,001 192,863 951,703 970, 363 947,990 22, 373 170,107 May 14__ 252,074;| 30,304! 22,389 12,918 177,8631 1,001,364 988, 269 972, 566 15, 703165, 213 May 21., 262,28811 29,280 21,148 29,402 177,058 1,00011,018,130 L, 002,185 971, 58630, 599 174, 226 May 28- 283, 600!! 52, 827! 17, ""' 29,357 179,048 jl, 018,9971L., 016,951 960,889 26,062 184,330 J J u u n n e e 4 11... 3 2 0 7 9 3 , , 2 9 6 5 5 3!' 4 2 8 8 , , 1 5 4 7 1 0 ! | 2 10 2 , , 1 7 0 7 8 0 2 5 9 2 , , 5 9 4 7 5 7 2 1 0 8 0 1 , , 5 5 8 2 0 7 1, 3001> J l , 0 99 3 88 2 11 , ,, 7 00 8 88 0 88 1 11 , , 0 0 2 1 3 4 , , 1 1 4 7 3 7 1, 9 0 9 0 9 5 , , 5 5 3 0 8 0 1 17 4 , , 6 6 3 4 9 31 1 8 85 2 , , 3 6 8 4 1 0 June 18... 274, 569i 24, 078! 12, 524 23,144 190, 472 21,00l!l,042,449922 11, 035, 747 997, 224 38, 523 177, 697 June 25. _ 231, 505| 38,153| 10,157 179,945 .1,061,263 1.!, 020, 8481,001,968 18,880 172,481 July 2... 309, 733 JS48, 621! 35, 774 20,019 186,369 980,180 1, 033, 7581,010,281 23,477 172,870 July 9 — 301,840 47,2541 34,854 19, 858 181,304 954,069 996, 787 976,740 20,047 164,709 July 16.. 268,8411 31,445| 42, 270 9,213 180, 663 ~~ ':, 708 1, 053, 5861, 026, 52527,061 160, 639 July 23._ I 249,577! 26,935 35, 566| 1,609 180, 217 J 1,059,4911,053, 2391,033, 68219, 557158, 714 July 30- ! 247, 77ll 33,430 28,615.• I 180,476 11,052,4111, 043, 3031,028,989 14,314 156,218 Aug. 6__> 45,157J 33,191 11,649! 180,476 ! 952, 709 977,796 957, 562 20, 234155,352 Aug. 13- 32, 347| 39,759 10,100 192,188!. . ! 982,9771,018,848 995,673 23,175 151,665 Aug. 20. 32, 034) 37, 203 . 187,7461 I 990,352 1,001,431 988,078 13,353 157,237 Aug. 27- 31, 215J 42,999 1, 544|| 187,746 jl, 019, 520 1,025,693 jl, 012, 678 13,015 170, 717 ! 11 i! 1 Sept. 3.._ 307, 248! 63, 575 43, 271 6,106 187,746 j 963,662 986,941! 975, 938 21,003 185,154 Sept. 10.. 270,1141 26,122 38, 742 12, 554 187,946 11,020, 477 ,020,56111, 005, 362 15,199 177,893 Sept. 17- 281,592j 21,603 56,9511 2, 648 195,390 11,033,2691, 032, 328!1,022,204 10,124 190,021 Sept. 24- 260,681| 24,138 44,253!. 187,540 1,085,5851, 045,265|1,026,324 18,941 203,300 Oct. 1__. 266,035| 26,392 43,246 5,407 186,240 , 080,378 1, 030,107 1,008,715 21,392 217, 536 Oct. 8__. 299,980! 25,649 58,858 24,983 186,240 ,023,22 1"8^1, 015,309 1,001,692 13,617 207,237 Oct. 15... 306,113! 57,749 35,204 21, 569 187,341 , 02[4,, 887,1 0;23,019 1,006,614 16,405 218,120 Oct. 22... 266,097' 31,838 32,477 10,192 187,340 .,121,, 262 1, 046,171 1,028,218 17,953 240, 278 Oct. 29— 273,008: 38,547 41,645 1,226 187,340 ,177,, 159 1,102, 4441 :l!, 088,34814,096 241,615 Nov. 5... 294,761)1 54,078 45,664 3,429 187, 340 ., 076, 559, 1026,3561,000,279 26,077 239,820 Nov. 12.. 288,8341! 32,768 63,544 932 187, 340 , 103,997 1, 090, 6271,074,3861 16,241 233,069 Nov. 19.. 267,137| 31, 546 45,897 185,444 , 138,423 1,059,4991,035,836 23,663 242,174 Nov. 26- 278,036! 38, 205 46,810 1,401 187,370 ,133!,, 664, 1 046,8871,033,202 13,685 259,038 Dec. 3... 312,25311 46,965 59, 728 8,940 192,370 1,090,185 1,035,056 1,013,238! 21,818 271,472 Dec. 10- 340,69711 60,775 65, 28511,138 190, 499 13,000 1,121, 221 1,073,0471,047,884! 25,163 283,420 Dec. 17- 442,994 77, 740 59,367 18,086 283,351 062,604 1,052,118 10,486 353,951 Dec. 24.. 476,284 141,486 69,048 29, 749 230, 551 012,178 991,317 20,861 399,542 Dec. 31- 506,353 61,898 129,180 29,093 246,929 36,403J1,007,122 1,047,001 1,062,276 15, 571 384,976 T 1 Includes "other securities." Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EACH FEDERAL RESERVE BANK 143 No. 78.—PBINCIPAL RESOURCES AND LIABILITIES OP EACH FEDERAL RESERVE BANK, BY WEEKS—Continued PHILADELPHIA [In thousands of dollars] Bills bought in United States Deposits Total open market securities Federal bills Bills Total reserve Date and dis- cash re- notes in s t e i c e u s r i i- counted B r o o i u u g t g h - h t t U a m g n r e d e n e e t r - Bo ou u t g - ht Under serves Total b b r e M a e r l s e a e b m n r a - v c n e e k s p O o d t s e h - i e ts r ci t r i c o u n la- I 1930 Jan.8__. 106,862 56,695 7,361 41,806 213,095 !137, 375 136, 325 1, 050 153,107 Jan. 15. _. 102,300 49,817 8,585 42,898 219,429 !136, 419 134,750 1,669 156,045 Jan. 22.. 103,136 50,927 8,311 42,898 207,306 134, 081 132,311 I 1,770 145,451 Jan. 29._ 103,101 50, 399 8,804 42, 898 210,074 I135, 594 133, 555 2, 039 144,475 ! Feb. 5... 102,802 48, 978 9,926 42,898 210,953 139, 559 137,187 2,372 142,908 Feb. 12.. 104, 248 50, 552 9,798 42,898 212,189 133, 710 132, 207 1,503 146,886 F F e e b b . . 2 1 6 9 . . . . 1 1 0 0 1 5, . 9 3 6 4 7 0 4 4 7 9 , , 0 7 5 1 6 0 1 9 1, , 7 7 9 7 9 2 4 4 3 3 , , 4 4 8 8 5 5 2 20 0 7 9 , , 8 6 4 5 5 6 1 1 3 3 5 2 , , 8 7 9 9 2 1 1 13 3 4 0 , ,4 0 3 6 6 2 2 1, , 7 4 2 5 9 6 1 14 4 7 3 , , 7 6 5 9 8 5 Mar. 5___ 94,392 33, 583 11, 324 43, 485 222, 043 139, 903 138,808 1,095 144,806 Mar. 12.. 94, 880 38,424 10,232 45, 224 215,920 134,071 133,294 J 777 143,848 Mar. 19 . 32,492 9.404 46, 707 224, 839 138, 583 137,065 !1,518 142,501 Mar. 26.. 85,253 31, 297 6,831 46,125 226, 655 134, 612 133,496 j1,116 142,845 Apr. 2... 86,169 31, 434 7,610 46,125 234,185 145,462 140, 752 4,710 144,492 Apr. 9... 84,710 27, 649 46,125 228, 558 136,137 134, 566 1,571 143, 688 Apr. 16.. 82,921 26,950 46,125 233,908 137, 247 133,174 4,073 148,165 Apr. 23.. 83,182 I 27,297 8,760 46,125 232,975 140, 728 137, 753 2,975 142, 534 Apr. 30.. 84,693 29, 581 7,987 46,125 226.150 136, 249 134, 329 1,920 142,200 May 7... 81,916 27, 770 7,021 46,125 229,947 139.445 136,350 3,095 139,950 May 14... 81,193 { 28, 519 5,549 46,125 227, 806 139, 006 137,964 1,042 138,075 May 21... 81,245 ! 29,431 4,689 46,125 218, 727 135,139 134, 234 905 132, 372 May 28.. 82,714 I 31,496 4,093 46,125 220.151 130, 798 127,145 3,653 137,367 June 4 79,875 ! 28, 203 3,352 47, 320 229,876 146,304 142,332 3,972 131, 363 June 11... 80,241 ! 26,292 2,744 50, 205 222, 658 142, 097 139, 237 2,860 129,125 June 18... 79,350 i 25,477 2,671 50, 202 225,592 141, 338 140,076 1,262 128,053 June 25... 81,867 I 28,204 2,461 50, 202 221,372 142, 111 137, 093 5,018 127, 555 July 2.... 83,720 ! 30,122 2,396 50, 202 217, 918 140, 846 138, 634 2,212 129, 936 July9_... 78,827 I 25,638 1,987 50, 202 223, 755 143,864 139,413 4,451 125, 366 J J J u u u l l l y y y 2 3 1 3 0 6 . . . . . . . . . 7 7 72 5 3 , , , 7 0 5 1 6 0 2 2 7 2 2 2 0 0 3 , , , 9 5 5 7 9 8 2 0 4 5 5 5 0 0 0 , , , 2 2 2 0 0 0 2 2 2 2 2 2 2 3 2 0 0 5 , , , 8 6 8 2 9 7 3 4 8 1 1 1 3 3 4 9 9 8 , , , 8 3 9 3 7 3 4 9 2 1 1 1 3 4 3 8 7 7 , , , 4 7 0 4 2 7 2 3 7 2 1 1 , , , 2 5 1 5 1 3 5 1 7 1 1 1 2 2 2 3 5 5 , , ,8 8 6 8 6 7 6 4 5 Aug. 6 71, 262 19, 461 50, 202 227,136 142, 354 138, 290 4,064 123,898 Aug. 13... 70, 575 17, 218 105 52, 252 231,409 141, 904 140, 007 1,897 127, 032 Aug. 20... 69,959 16, 604 103 52, 252 231, 715 144, 982 143,110 1,872 124,169 Aug. 27... 70, 023 16, 668 103 52, 252 227,499 140, 594 138, 570 2,024 124,158 Sept. 3... 69,849 16, 493 104 52, 252 234, 037 145, 722 141,162 4,560 126, 022 Sept. 10.. 71, 389 18, 033 104 52, 252 227, 267 144.446 143, 089 1,357 122,931 Sept. 17_. 68, 026 14, 670 104 52, 252 239, 222 146, 257 145, 514 743 123,499 Sept. 24 _. 67, 791 14, 435 104 52, 252 230,184 144, 345 140, 955 3.390 120,826 I Oct. l.._. 70,270 I 16, 914 104 52, 252 226, 591 145, 511 142. 909 2,602 120,997 Oct. 8 68,637 i 15, 281 104 52, 252 225, 747 143, 984 141, 017 2,967 118> 220 Oct. 15._. 70,770 ! 17, 414 104 52, 252 226,126 145, 654 142, 035 3,619 120, 233 Oct. 22... 73,094 i 18,838 1,004 52, 252 218, 254 143, 569 141, 642 1,927 114,940 Oct. 29._. 74,655 ! 19, 783 1,620 52, 252 216,958 142, 757 140, 436 2,321 115,252 Nov. 5_... 73, 969 18, 387 2,330 52, 252 226,879 146, 983 142, 288 4,695 118. 220 Nov. 12... 74, 656 18, 459 2,945 52, 252 229, 036 145, 985 143, 702 2,283 120, 770 Nov. 19__. 75,849 18,374 2,945 53, 530 218, 629 144, 339 141, 664 2, 675 116,261 Nov. 26... 79, 408 ! 21,454 2,945 54, 009 217, 572 138, 326 136, 748 1,578 123, 249 Dec. 3.... 78, 979 21,149 3,300 53, 530 229, 086 151, 459 145, 511 5,948 124,816 Dec. 10... 78, 398 21,811 3,489 53, 098 229, 583 146,165 145,133 1,032 126,489 Dec. 17... 78, 718 24, 224 3,495 50, 999 231, 971 141, 862 141, 034 828 129, 525 Dec. 24... 95, 253 40, 759 3,495 50, 999 237,077 142,194 138,150 4,044 161, 293 Dec. 31... 83.973 25, 663 3,496 54, 204 247, 426 144, 604 142, 539 2,065 153, 727 1 Includes "other securities/' Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

144 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OP EACH FEDERAL RESERVE BANK, BY WEEKS—Continued CLEVELAND fin thousands of dollars] Bills bought in United States Total open market securities Deposits Federal bills Bills Total reserve Date s t e a i c e n u s d r i i- co d u i n s- ted B r o o ig u u h g t- t ht U a r m e g n s e r d a e n e l e t e r - B r o o i u g u g h t- h t t U a r m e g n s e r d a e n e l e d t r - c s a e s r h v r e e s - Total b b r e M e a r s l a e e b n r m a v c n - e e k s p O o d t s e h - i e ts r n c o i t r t i c e o s u n l i a n - I 1930 I Jan. 8 127, 647 78,970 17,698 29,479 ! 270,872 187, 018 183,805 3,213 185, 635 Jan. 15.. _ 128, 769 77,669 19,334 30,266 261,404 182, 063 179,113 2,950 180, 744 Jan. 22... 119,912 65,590 22,556 30,266 266, 373 185, 280 182,412 2,868 174,961 Jan. 29... 112,147 58, 355 22,026 30,266 276, 725 183, 719 180,681 3,038 176, 556 Feb. 5 113, 905 54,827 27,312 30,266 274,492 189, 352 186, 696 2,656 171,493 Feb. 12.. 114, 357 54, 590 28,001 30,266 | | 282,143 184, 688 182,647 2,041 180, 211 Feb. 19.. 112,517 49, 374 32,453 30,690 { I 285,168 190, 489 187, 789 2,700 175, 096 Feb. 26... 110, 722 46,386 33,646 30,690 I.. 284,641 183,695 180, 296 3,399 181,108 Mar. 5— 100,196 40,119 | 29,387 30,690 297, 816 189, 009 187, 080 1,929 178,907 Mar. 12.. 95, 571 34, 316 28, 024 33, 231 305,909 189, 378 186, 898 2,480 181,351 Mar. 19- 86, 507 25, 263 25, 828 35, 416 308,394 189,913 187,323 2,590 175, 264 Mar. 26... 80, 516 26, 470 19, 051 34,995 319,194 189, 379 186, 829 2,550 180,475 Apr. 2... 78,656 27, 834 15,827 34, 995 326,961 196,476 190, 719 5,757 178, 481 Apr. 9 77,484 26, 095 16,394 34,995 327, 531 189, 332 184, 340 ! 4, £92 183, 731 Apr. 16.. 94,867 25,528 19,344 49, 995 308, 453 193,103 190, 249 2,854 181, 258 Apr. 23.. 92,982 22,870 20,117 49,995 308, 901 190,023 186,822 3,201 181,440 Apr. 30... 90,324 20, 717 19,611 49, 996 313,171 191,140 187, 220 3,920 182, 277 May 7— 87,304 20,955 | 16,353 49, 317, 939 193,917 190, 513 3,404 180,861 May 14.. 86,917 22,974 ! 13,947 49,996 316, 842 188, 683 185,421 3,262 183, 213 May 21... 81,416 18,371 j 13,049 49,996 325, 653 198,671 194, 585 4,086 178,663 May 28... 82,659 21,531 11,132 49, 996 332,459 195, 669 191, 523 4,146 187, 083 June 4 17,924 11,447 51, 562 332, 575 200,060 195,682 4,378 183,084 June 11-. 85, 270 20, 258 9,670 55, 341 333, 814 200,191 195,966 4,225 187, 335 June 18.. 85,117 20, 276 9,499 55, 342 327, 340 201, 205 198, 264 2,941 182, 356 June 25-. 93, 353 29, 341 8,670 55, 342 329,849 204,832 196,853 7,979 187,099 July 2... 98,874 31,922 11,610 55, 342 325,623 202, 046 197, 319 4,727 191,887 July 9... 95,514 29,965 10, 207 55, 342 337, 275 208, 273 203,065 5,208 193, 333 J J J u u u l l l y y y 3 1 2 0 6 3 _ . .. . . 8 8 9 7 6 3 , , , 6 8 4 2 6 4 9 3 1 2 1 1 4 9 7 , , , 1 0 4 0 3 3 6 6 4 I i 14 1 1 , 4 3 , 0 , 0 2 1 6 5 5 5 1 5 5 5 5 5 5 , , , 3 3 3 4 4 4 2 2 2 3 3 33 3 3 3 1 1 , , , 4 4 9 8 9 5 6 6 4 2 2 2 0 0 0 3 7 4 , , , 8 4 3 3 6 1 6 7 5 2 2 1 0 9 0 4 9 0 , , , 8 0 4 3 2 4 9 0 7 3 3 3 , , , 9 8 4 9 0 4 7 8 7 1 1 1 8 8 8 9 5 5 , , , 0 9 5 6 4 2 6 9 9 Aug. 6 83, 392 16,111 |11, 939 55, 342 335, 592 201, 567 196,944 4,623 185, 279 Aug. 13-. 86,126 15,320 12,950 57,856 341,983 204,986 200,196 4,790 192,687 Aug. 20.. 86,802 13,796 j15,150 57,856 337,918 209, 659 205, 587 4,072 185,629 Aug. 27... 88,471 15,071 !15, 544 57, 856 335,827 203, 124 199,319 3,805 190, 845 Sept. 3... 90, 308 15,501 |16,951 57,856 I 341,672 209,010 203, 497 5, 513 190, 522 Sept. 10.. 91, 596 13,140 i20, 600 57, 856 ..._| 339,867 207, 261 203, 477 3,784 193,881 Sept. 17... 91,427 11,810 |21,762 57,855 I 328,759 203,703 201,620 2,083 188,341 Sept. 24.. 95, 535 15,173 |22, 507 57, 855 -_..| 327,713 202,870 198, 522 4,348 188,331 Oct. 1... 20,412 20, 414 57,855 316, 258 198,643 193, 813 4,830 185, 464 Oct.8 . 96,254 21, 086 17,313 57,855 321,652 201, 684 196, 530 5,154 186, 061 Oct. 15-.. _| 99,580 24, 071 17,654 57,855 320,106 204,465 201, 903 2, 562 185,997 Oct. 22... .1105,006 27,049 20,102 57,855 310,403 203, 226 199,194 4,032 182,493 Oct. 29__ . 1104, 296 25, 884 20, 557 57,855 307,436 198, 624 194, 432 4,192 182,166 Nov. 5— .1104,499 24,728 21,916 57,855 307, 357 201, 554 195, 775 179,308 Nov. 12_. .!104, 383 25, 002 21, 526 57,855 308,487 193, 715 189, 507 4,208 185,445 Nov. 19_ _ ,105,930 27, 905 18,605 | 59,420 305, 074 196, 720 192, 552 4,168 184,468 Nov. 26.. . 1108,343 30,649 17,687 I 60,007 305,322 193,794 190,008 3,786 188,563 Dec.3--_ .1114, 318 34,021 20,877 59, 420 306,015 198, 509 191, 967 6, 542 189,992 Dec. 10.. .! 116, 432 32,089 23, 204 61,139 302,875 193,107 190,162 2,945 194, 030 Dec. 17-_ .1125,683 42, 225 23, 565 58,893 289, 449 190,925 187,574 3,351 193, 712 Dec. 24.. -i 127, 785 47, 556 20,336 58,893 300, 217 193. 920 187,674 6,246 203,650 Dec. 31.. J127, 072 37, 216 25,931 62,925 286,567 191,889 186,377 5,512 194,948 1 Includes "other securities." Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

145 EACH FEDERAL RESERVE BANK No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued RICHMOND [In thousands of dollars] | Bills bought in United States Deposits Total I open market securities Federa bills Bills ! Total reserve Date se a t c i n e u d s ri- co d u i n s t - e d I B r o o i u g u g h t- t ht U a r m e g n s e r d a e n e l e t e r - B r o o i u g u g h t- h t t U a r m e g n s r e d a e n e l e e t r - c s a e s r h v e re s - Total b b r e M a e r l s a e e b n m r a v c n - e e k s p O o d t s h e i - e ts r n c o i t t r i e c o s u n l i a n - 1930 Jan. 8— 53,333 32, 561 11, 213 1,559 110,096 j 68, 820 65,233 3, 587 89, 873 Jan. 15... 51, 556 29,918 11, 736 105,916 ! 66,990 64,114 2,876 86,373 Jan. 22... 46,049 24, 610 11, 537 9,902 117,878 I 74,367 70, 371 3,S96 84,441 Jan. 29... 46,333 25, 676 10, 755 9,902 113, 520 ; 70, 749 64,903 5,846 82,461 Feb. 5... 45, 392 22, 511 12,979 9,902 112,380 ! 67, 270 1,810 81,249 Feb. 12.. 44,473 21,015 13, 556 9,902 112,877 I 65,228 62, 386 2,842 79, 605 Feb. 19.. 46,935 22,951 13, 898 10, 086 108,075 66, 862 65,188 1,674 79,999 Feb. 26.. 45, 066 20,906 14,074 10, 086 108,393 j 66,434 64, 083 2,351 78, 598 Mar. 5... 41, 703 18,257 13,360 10, 086 109,434 65, 582 65,180 402 77, 645 Mar. 12.. 39,493 16, 683 12, 724 10, 086 109,407 64,970 64,459 511 75,781 Mar. 19.. 39, 536 14, 707 12, 007 12, 822 109,004 ! 65,090 64,277 813 74, 360 Mar. 26- 38, 366 15, 304 10,422 12, 640 107,986 ! 65, 776 63, 963 1,813 73,188 Apr. 2... 36, 076 14, 648 12, 639 117,019 ; 71, 203 65, 869 5,334 72, 915 Apr. 9... 35.987 13, 380 9, 967 j 12,640 116,064 ! 69, 612 64, 642 4,970 72, 293 Apr. 16.. 39, 249 15, 687 10,922 12,640 108,544 ! 66, 782 63, 088 3,694 72,164 Apr. 23.. 39, 504 16, 402 10, 462 12, 640 103,197 ! 64, 992 61,742 3, 250 69,822 Apr. 30.. 40, 549 18,931 8,978 12, 640 104,207 | 67, 039 63, 736 3,303 68,726 May 7___ 38,409 17, 623 8,146 12, 640 104,986 65, 673 64,190 1,483 68,977 May 14.. 38, 451 16, 807 9,004 12, 640 103,266 65, 801 64, 386 1,415 67,145 May 21.. 38, 271 16, 737 12, 640 104,798 68,867 66,468 2,399 66,711 May 28.. 36, 733 16, 521 7,572 12, 640 105,636 66,171 61,170 5,001 66, 552 June 4... 39.988 18,707 7,776 13, 505 104,397 I 67, 987 65,077 2,910 67, 500 June ll._ 40, 638 18,382 6,662 15, 594 99,701 65,879 2,891 65, 857 June 18.. 40, 421 19,146 5,681 15, 594 96,760 62,430 61, 876 554 64, 888 June 25.. 42, 655 21,417 5,644 15, 594 99.396 |69, 358 62, 522 6,836 64,020 July 2... 45,049 22,649 15, 594 98,226 i 66,132 61,929 4,203 67,233 July 9... 41, 567 19, 589 6,384 15,594 101,199 69,980 65,121 4,859 65, 275 July 16.. 42,007 18, 305 8,108 15, 594 96,750: 68.450 64,824 63,831 July 23.. 42,896 19,446 7,856 15, 594 94,306 |66, 778 •62,832 3,946 62,868 July 30. - 41, 353 19,419 6,340 15, 594 94,294 !66, 505 62,971 3,734 61,880 Aug. 6... 42, 786 21, 285 5,907 15, 594 96,887 69, 606 64,828 4,778 62, 512 Aug. 13^. 43,962 19, 497 7,482 16,983 95.397 i 69,145 63,016 6,129 62,198 Aug. 20- 49, 371 23, 521 8,867 16, 983 89,762 69,025 64, 236 4,789 61, 980 Aug. 27- 47,146 20, 628 9,535 16,983 88,410 64,6£8 60,963 3,735 62,535 Sept. 3— 47,450 21, 648 8,819 16, 983 92, 252 67,450 64, 707 2,743 63, 940 Sept. 10- 47,483 20,299 10, 201 89,811 65, 337 63,403 1,934 62,932 S Se e p p t t . . 2 1 4 7 - - 4 4 6 7 , ,1 9 1 3 5 2 1 1 8 9 , , 0 9 3 4 6 7 1 1 0 1 , , 9 18 1 6 3 1 1 6 6 , , 9 98 8 3 2 8 9 7 6 , , 8 6 8 4 0 1 6 7 3 0 , , 2 9 5 3 5 8 6 6 3 3 , , 3 0 2 3 1 8 7, 6 21 17 7 6 6 3 4 , , 0 7 5 6 3 3 Oct. 1... 45,955 18,374 10, 598 16, 983 99,082 71.451 64, 791 6,660 64,835 Oct. 8—. 43, 788 17, 747 9,058 16, 983 100,720 69,784 63,509 6,275 66,028 Oct. 15... 43, 377 18,002 8,392 16,983 97, 236 67,558 63,822 3,736 66,809 Oct. 22... 45,699 18,997 9,719 16,983 96,199 65,190 62,437 2,753 67,161 Oct. 29_. 44, 587 8,768 16,983 95,061 66, 271 62, 653 3,618 65,858 Nov. 5— 44,997 17,800 10, 214 16,983 103,494 65, 647 63,314 2,333 68, 555 Nov. 12- 45, 794 17,721 11,090 16, 983 64, 469 62,257 2,212 68, 537 Nov. 19.. 49, 673 22,000 9,825 17,848 91, 599 65,846 63, 233 2,613 68,076 Nov. 26.. 56,853 29,341 9,340 18,172 93, 674 67,162 62,627 4,535 73, 701 Dec. 3... 54,185 25,185 11,152 17,848 100, 755 67, 716 63,842 3,874 78,182 Dec. 10.. 58, 603 28, 224 12,824 17, 555 95, 707 60,909 60, 539 370 84,966 Dec. 17- 56,891 32,171 12, 459 12, 261 116,895 62, 740 62, 318 422 107,624 Dec. 24.. 61,044 38, 459 10,324 12, 261 117,300 59, 755 4,938 108, 279 Dec. 31- 47,609 22, 766 10,936 13, 907 120,124 61, 673 60,820 853 100, 515 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

146 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued ATLANTA {In thousands of dollars] Bills bought in United States Total open market securities Deposits Federal bills Bills Total reserve Date s t e a i c e n u s d r i i- co d u i n s- ted ! ! B r o o i u g u g h t- h t t U r a m e g n s e r d a e n e l e e t r - B r o o i u g u g h t- h t t U a r m e g n s r e d a e n e l e e t r - c s a e s r h v e re s - Total b b r e M a e r l s a e e b n m r a v c n - e e k s p O o d t s h e i - e ts r n c o i t r t i e c o s u n l i a n - 1930 Jan. 8 62,944 35,628 18,465 8,851 146, 430 66,702 63,687 3,015 137, 622 Jan. 15— 60,416 32,884 18,699 8,833 146, 500 67,143 65,080 2,063 133, 286 J J a a n n . . 2 2 9 2 _ — _. 5 5 6 2 , , 1 2 5 3 1 2 26,959 1 16 8 , , 7 4 1 0 4 2 8 8 , , 8 79 5 0 0 1 1 4 4 7 9 , , 6 6 6 6 6 0 6 6 9 7 , , 5 8 2 2 2 3 6 6 6 3 , , 0 7 0 0 9 3 3 4 , , 5 1 1 2 3 0 1 1 3 2 1 8 , , 4 7 8 6 6 4 Feb. 5—. 54, 277 26, 527 18,878 8,872 150, 313 66,058 63,095 2,963 132,087 Feb. 12... 53, 526 25, 385 19, 350 8,791 149, 663 70,735 62, 215 8,520 131,327 F F e e b b . . 2 1 6 9 . . . . . . 5 5 1 2 , , 8 6 7 1 9 1 2 2 4 3 , , 4 0 5 4 7 3 2 1 0 9, , 0 3 5 6 8 6 8 8 , , 7 7 8 7 8 8 1 1 5 5 2 0 , , 0 0 4 1 6 1 6 65 4 , , 4 4 0 9 9 3 6 6 3 2 , , 8 2 0 0 9 7 2 1 , , 6 2 8 0 4 2 1 1 3 3 1 0 , , 7 4 0 3 9 4 Mar. 5—. 54,058 26, 263 18,943 8,852 153,426 65, 263 64,830 433 133, 597 Mar. 12... 49,875 24,319 16, 779 8,777 156,064 66,409 65,967 442 132,017 Mar. 19... 41, 745 17, 765 15,154 162, 736 65, 380 64, 519 861 130, 684 Mar. 26... 38,414 14, 534 15,081 162,895 65,260 64,775 485 128,589 Apr. 2 39, 275 16, 297 14,211 8,767 163, 784 66, 203 63, 533 2, 670 129,829 Apr. 9 37,625 15,197 13,639 8,789 165,485 67,192 63,811 3,381 128, 390 Apr. 16... 44,902 15,672 20,332 160, 437 68,972 65,088 128, 256 Apr. 23... 55, 612 22,053 24, 757 8,802 147,119 68,962 65, 536 3,426 127,057 Apr. 30... 56, 706 25, 052 22, 262 8,792 144,770 67,339 64, 599 2,740 127,896 May 7.... 53,928 25,190 19,911 ! ! 8,827 152,199 70,904 67,046 3,858 128, 281 May 14... 50,173 24, 935 16,405 8,833 148, 662 65,815 64,465 1,350 125,851 May 21~. 51,396 26,003 16, 606 8,787 144, 391 63,526 61, 283 2,243 124,970 May 28-.. 51,035 28, 714 13, 291 9,030 144,500 64,491 61,038 3,453 123,746 June 4 54, 612 32,788 11,896 9,928 145,169 66,453 62,082 4,371 125, 556 June 11_.. 44,142 30,189 10, 520 3,433 155,205 64,972 62,368 2,604 134,092 June 18... 49,000 8,965 11,396 151,012 62,715 62,362 353 128,866 June 25-.. 46, 641 26, 335 8,537 ! 11,769 147,881 64,358 61,075 3,283 124, 316 July 2 51,079 29,552 i 10,153 11,374 142,924 64,438 61,451 2,987 123, 442 July9.__. 48, 783 28,940 8,475 11, a 144, 452 66, 862 62, 6G1 4,201 121, 522 July 16... 51, 588 30,146 9,492 1"1 ,'950 135, 208 62, 565 60, 710 1,855 119, 000 J J u u l l y y 2 30 3 . . _ .. . 4 47 8 , , 1 6 2 4 1 0 2 2 7 8 , , 6 34 2 3 8 9 7 , ,8 0 6 6 4 8 11,425 1 1 3 3 6 5 , , 1 1 7 1 8 2 6 62 2 , , 0 0 0 6 1 9 5 58 9 , , 3 6 3 9 1 9 2 3, , 3 6 7 7 0 0 1 11 1 4 6 , , 1 7 6 1 5 5 Aug. 6 28,920 6,464 11,424 139, 493 64,455 60,095 4,360 115, 341 Aug. 13... 50, 356 29, 561 8,104 12, 691 133, 853 63, 299 58, 356 4,943 114, 356 Aug. 20-. 52, 299 30,026 ! 9,417 12, 856 128, 785 61,438 60,161 1,277 113,335 Aug. 27-_. 51, 894 29,558 ! 9,601 12, 735 127, 732 61, 579 58, 863 2,716 112, 210 Sept. 3—. 55, 028 32,141 10,187 I 12,700 130, 893 65, 008 62, 012 2,996 113,611 Sept. 10.. 55,106 30, 703 11,682 | 12,721 130, 532 67, 258 60, 934 6,324 112.180 S S e e p p t t . . 2 1 4 7 _ . . . 5 5 0 0 , , 1 4 7 6 3 4 2 2 4 4 , , 7 6 1 0 6 7 1 1 2 3 , ,0 6 4 6 5 0 ! I . 1 1 2 2 , , 7 9 0 0 3 6 1 1 3 2 0 9 , , 2 8 7 1 9 1 6 6 0 2 , , 9 7 0 3 9 4 5 60 9 , , 9 5 0 2 0 1 2, 8 3 3 8 4 8 1 1 1 1 2 0 , , 0 1 4 2 9 3 Oct. 1___. 51, 882 26,497 12,679 i 12,706 143, 935 60,950 58, 783 2,167 127, 850 Oct. 8___. 47,144 24, 203 10,215 ! 12,728 147,964 63,783 60,784 124, 572 Oct. 15__. 47, 443 24, 208 10,461 l._ 12,774 141, 523 62,074 59,476 2,598 120,822 Oct. 22__ 47, 098 24, 433 9,887 12,778 140, 855 62.473 60, 643 1,830 118, 715 Oct. 29_-, 45, 518 23, 618 9,131 12,769 137, 282 58,, 966 56, 606 2,360 117, 082 Nov. 5—. 46,964 23, 881 10, 233 12, 850 143,460 66,432 60, 004 6,428 118, 997 Nov. 12... 46, 041 22,412 10. 864 12, 765 142,175 59,713 56, 824 2,889 121, 832 Nov. 19... 45, 583 27,496 10, 363 7,724 145, 398 61, 632 58, 941 2,691 123,992 Nov. 26.. 47,188 29, 642 9 ; 853 7,693 142, 541 59, 654 56, 937 2,717 123, 403 Dec. 3—. 53, 567 32,985 12,795 7,787 141,108 63, 536 59,435 4,101 125,065 Dec. 10- 54, 880 32, 415 14,741 7,724 135, 293 60,509 60,108 401 123,935 Dec. 17... 51, 624 28,947 14, 896 7,781 142, 063 58,849 58, 356 493 126, 285 Dec. 24- 50, 016 28,814 13.430 7,772 151,959 61, 926 58, 461 3,465 135,983 Dec. 31 — 42, 301 18,069 15755 ',877 ; ! 159,425 62,911 61.014 1,897 133, 854 1 Includes "other securities." Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

147 EACH FEDERAL RESERVE BANK No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued CHICAGO (In thousands of dollars] Bills bought in United States I Deposits Total open market securities Federal bills Bills Total reserve Date s t e a i c e n u s d r i i- co d u i n s- ted B r o o i u g u g h t- t ht U r a m e g n s e r d a e n e l e t e r - B r o «o i u g „u g + h t- h t . t I U a r m " e g n™ s e r d a e n e l e * t e r - cash re- Total b b r e M e a r s l e a e b m n r a v c - n e e k s O po d t e s h - i e ts r n c o i t r t i e c o s u n l i a n - 1930 i J J J J a a a a n n n n . . . . 8 1 2 2 5 9 2 — . .. . . . 1 1 1 1 9 9 7 7 9 1 5 3 , , , , 1 1 8 2 1 2 5 1 9 7 6 2 9 8 7 77 3 6 6 , , , , 8 9 5 7 6 1 5 0 5 9 5 4 2 2 2 2 8 6 2 7 , , , , 3 4 5 5 1 5 5 7 6 0 0 8 5 3 2 1 , , , , 6 9 0 8 8 6 4 7 5 1 2 6 6 7 7 7 8 0 0 0 , , , , 4 3 3 3 0 7 7 7 0 6 6 6 ; | j 1 3 7 8 5 0 0 4 4 5 4 7 0 7 9 1 2 0 6 , , , , 9 6 6 1 5 2 1 1 4 8 5 1 3 3 3 3 4 4 4 3 0 7 9 3 , , , , 4 3 2 5 7 6 5 8 0 9 9 1 3 3 3 3 4 3 4 3 0 0 3 5 , , , , 1 1 6 0 5 6 6 3 1 6 4 4 3 4 4 3 , , , , 3 5 0 7 1 4 9 0 9 7 5 3 2 2 2 2 9 9 9 8 5 8 2 9 , , , , 6 3 5 8 0 3 3 3 7 7 1 2 Feb. 5... 176,042 74.799 25, 708 3,629 70,376 30 498,497 340, 056 333,935 6,121 294, 534 Feb. 12.. 166,410 65; 939 24,820 3,270 70,376 505 502,614 332,069 330,168 1,901 297,475 Feb. 19._ 156, 571 54, 079 28, 366 2, 652 71, 339 135 j 506,695 330,225 323, 692 6,533 295, 628 Feb. 26.. 152, 614 48,497 29, 873 2,510 71, 339 395 i 517,984 334,871 330, 659 4,212 295, 981 Mar. 5.... 149,187 49, 756 25,146 2,946 71, 339 531, 514 337,353 335, 593 1,760 305, 700 Mar. 12.. 139, 579 38,358 26, 364 3, 398 71, 339 120 543,116 345,458 343,909 1,549 298, 686 Mar. 19.. 123,026 24,179 24,143 2,185 71,339 1,180 534,126 332, 558 330, 963 1,595 290,632 Mar. 26.. 116, 599 22,685 19.163 4,112 70, 384 255 543, 637 340, 885 337, 580 3,305 285,399 Apr. 2... 121, 238 22,049 20, 382 7,883 70, 384 540 551,926 353,341 346, 250 7,091 280,896 Apr. 9... 114,696 19, 711 20,623 3,603 70, 384 375 540, 377 342, 316 339, 504 2,812 274,854 Apr. 16.. 121, 321 24, 879 20,819 5,139 70,384 100 539,832 356,767 353, 417 3,350 267,285 Apr. 23.. 115, 251 22, 206 18,653 3,818 70,384 190 539, 643 354, 352 350, 075 4,277 262, 636 Apr. 30.. 113,191 23,298 17,325 2,104 70, 384 80 545,197 364, 567 361, 241 3,326 254, 510 May 7... 106,886 21,900 11,944 2,428 70, 384 230 524,471 347, 954 343,478 4,476 246,716 May 14.. 106,009 17,967 15, 201 2,192 70,384 265 522, 507 352,896 350, 724 2,172 237,802 May 21.. 107,972 18, 779 16,187 1,997 70, 384 625 517,357 355,143 351, 894 3,249 231,434 May 28.. 107,423 17, 365 15, 665 3,689 70,384 320 498, 098 341, 257 333, 579 7,678 226,056 June 4... 108,978 18, 391 15,181 2,546 72,485 375 495,412 346, 541 344,415 2,126 219,253 June 11.. 111, 280 16, 492 13,021 3,955 77, 557 255 ! 491,043353, 331 348, 514 4,817 211,596 June 18__ 108, 578 15, 622 11,777 3,307 77, 557 315 483,693 348, 544 346,414 2,130 205, 910 June 25.. 113,693 19,034 13, 540 3,152 77, 557 410 470,161 343, 697 339, 879 3,818 201,438 July 2... 116,009 19,840 15, 982 2, 465 77,557 165 473,998 350,448 339, 313 11,135 199,460 July 9... 114,094 18, 756 14, 672 3,034 77, 557 75 489,900 371,034 367, 823 3,211 196, 259 July 10.. 119,574 18, 475 22.192 1,125 77, 557 225 468, 205 358, 396 354,470 3,926 191,910 July 23.. 117,838 17,321 21,629 1,281 77,557 50 454, 877 347, 394 344.134 3,260 187,158 July 30... 114,375 16,740 19,175 858 77, 557 45 455,497 350,969 346, 684 4,285 180, 507 Aug. 6... 106,617 15,817 12, 759 484 77, 557 473, 267 365, 345 361, 891 3, 454 177,106 Aug. 13.. 111,809 15, 243 13, 790 1,463 81,128 185 458, 667 357, 531 352, 520 5,011 174, 772 A A u u g g . . 2 2 7 0 . . . . 1 1 1 14 8 , , 7 4 0 3 0 1 1 1 5 5 , , 9 5 2 0 2 9 1 15 6 , . 9 1 1 6 9 4 5 1, , 7 5 3 4 1 0 8 8 1 1 , , 1 1 2 2 8 8 90 4 4 5 5 7 4 , , 0 3 0 8 7 2 3 3 6 6 5 1 , , 4 5 0 4 4 7 3 3 5 5 6 5 , , 7 4 9 7 8 7 8 5. , 7 9 4 2 9 7 1 1 7 6 2 9 , , 8 2 6 9 2 9 Sept. 3... 110, 589 15,762 12, 592 702 81,128 405 447,877 351,851 348, 268 3,583 168, 365 Sept. 10.. 113, 690 13,048 18,303 1,041 81,128 170 434,133 349,944 346, 603 3,341 165.172 S Se e p p t t . 1 2 7 4 . . . . 1 1 1 1 4 4 , , 0 5 6 0 9 3 1 11 1 , , 2 0 8 9 6 7 2 19 0 , , 8 5 7 9 7 8 1, 6 6 2 1 8 0 8 81 1 , , 1 7 2 7 8 8 4 1 2 5 0 0 4 42 4 4 2 , , 0 8 2 1 1 6 3 3 4 57 2 , , 8 5 5 0 6 4 3 3 5 3 6 8 , , 5 2 9 9 3 2 3 1 , ,5 9 6 1 4 1 1 15 6 9 2 , , 1 3 8 7 8 2 Oct. 1... 117, 502 16, 631 17, 601 1,302 81,128 840 413,003 337, 579 333, 243 4,336 155,900 Oct. 8... 114,139 15,096 16,451 1,314 81,128 150 430, 256 352,003 345, 082 6,921 154,183 Oct. 15.. 114, 715 13, 580 17,432 2,575 81,128 439, 289 361, 265 359.135 2,130 152,624 Oct. 22. _ 118,663 13, 945 20, 880 2,710 81,128 418,911 349.120 345, 540 3, 580 149, 893 Oct. 29.. 120, 840 17, 293 20. 571 1,848 81,128 408,061 342, 239 339, 289 2,950 146,920 Nov. 5... 120,173 18,370 18, 954 1,671 81,128 50 419, 509 348, 731 345,877 2,854 144,973 Nov. 12 118,413 15,902 20,073 1,310 81,128 425,114 354, 637 352, 542 2,095 143, 713 Nov. 19.. 120, 487 17,138 18, 752 1,244 83,353 403,426 343, Ifi2 339, 555 3,607 142,115 Nov. 26.. 122, 244 19,113 18.193 751 84,187 402, 924 342. 893 337,019 5,874 141.173 Dec. 3... 128, 291 21,159 22,927 852 83, 353 402, 252 349, 877 346,472 3, 405 141,040 Dec. 10._ 132, 332 22,410 24, 663 2,660 82, 599 395, 902 347,100 345, 318 1,782 141,937 Dec. 17.. 137,385 23,144 28, 043 2, 595 82, 603 396,854 351,992 349,832 2,160 141,347 Dec. 24... 146, 903 31,674 29, 853 1,742 82, 603 31 370, 420 348, 327 340, 513 7,814 141,453 Dec. 31._ 165, 777 22,804 49, 882 2, 488 82, 603 7,000 375,462 365,152 360,832 4,320 139,162 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. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued ST. LOUIS [In thousands of dollars] [ Bills bought in United States i open market securities Deposits Federal Bills Total reserve Date co d u i n s- ted I i B r o O i u g U g h t- h t t I U a r m e g n s r e d a e n e l e t e r - B r o o i u u g t g h - h t t I U a r m e g n s r e d a e n e l e t e r - c s a e s r h v r e e s - Total b b r e M e a r s l e a e b m n r a - v c n e e k s p O o d t e s h - i e ts r n c o i t t r i e c o s u n l i a n - 1930 Jan. 8__. 18,870 10,300 29,266 120.520 82,476 79,693 2,783 91,931 Jan. 15. _ 16,448 12,701 19, 128,622 81,696 79,666 2,030 90,283 Jan. 22._ 16,348 13,208 19,266 123,825 80,482 78,584 1,898 88, 750 Jan. 29. _ 15,067 13,006 19,266 124,554 80, 729 78,554 2,175 87,450 Feb. 5... 49,633 14,325 16,012 19,266 122,055 80,027 78,215 1,812 86, 598 Feb. 12,. 51,374 15,189 16,889 19,266 120,158 85,919 74,159 11, 760 84,644 Feb. 19.. 55,177 17,829 18,052 19,266 L 118,319 80,120 78,208 1,912 84,863 Feb. 26.. 56,167 16,449 20,422 19,266 L 114,099 79, 556 77,078 2,478 83, 658 Mar. 5... 51,062 14,574 17, 19,266 I 118,796 77,214 76,542 672 83.372 Mar. 12.. 48, 933 14,450 15, 19,266 L 120,348 78, 766 78,089 677 81,479 Mar. 19.. 45,293 12,341 13, 19,266 |. 126.521 80,665 80,073 592 81, 380 Mar. 26.. 41.070 12, 239 19,268 I- 126,253 80,239 79,528 711 79, 323 Apr. 2... 41,484 13,357 19,268 L 127,375 80,547 79,008 1,539 79,146 Apr. 9... 42,280 12,628 19,268 L 126,040 81,126 79,964 1,162 77,691 Apr. 16.. 44, 939 14,518 19,268 129,146 84,389 82, 749 1,640 78, 910 Apr. 23.. 45, 741 14,703 19,268 123,182 82,060 79, 708 2,352 76.193 Apr. 30.. 45,249 16,118 19,268 119,250 78,139 75,836 2,303 76,000 May 7—_ 42,354 13,606 I 9,480 19, 268 124,218 81, 741 79,511 2,230 76,698 May 14_. 44,211 14,506 10,437 19,268 119,433 78,351 77,012 1,339 75,990 May 21.. 45,398 16,932 i 9,198 19, 268 119,268 79,458 77,413 2,045 75, 764 May 28.. 45,877 19,258 ! 7,351 19,268 120,081 78, 845 2,048 74, 912 June 4... 48, 427 21,127 7,043 20,257 119,072 82,212 79, 637 2,575 74,409 June 11.. 44,359 15,478 6,238 22,643 116,527 78,913 77,131 1,782 72,474 June 18,. 46,421 18, 941 4,837 22, 643 118,082 80, 745 80,089 656 72,640 June 25.. 43,614 16, 863 4,108 L 22,643 118,462 81,093 78,422 2,671 71.194 July 2___ 45, 507 16,019 6,845 L 22,643 115,170 77, 771 75,645 2,126 73,323 July9.__ 45,195 16,556 5,996 L. 22,643 114,617 78,237 76,255 1,982 71, 953 July 16. _. 46,047 16,406 22, 643 112,181 78, 713 77,323 1,390 70,923 July 23... 45, 793 17,303 5,847 i 22,643 111,717 78,522 76,977 1,545 69,751 July 30... 41, 583 13,135 5,805 i 22,643 114,298 77,626 75,345 2,281 69,109 Aug. 6... 41,866 13,325 5,898 22, 643 112,956 72,642 70,761 1,881 68, 774 Aug. 13-. 46, 825 14, 950 7,976 23,899 104,954 76,376 74,912 1,464 66,913 Aug. 20.. 49,124 16,870 8,355 23,899 107,653 80,617 76,902 3,715 66,678 Aug. 27.. 46, 625 14,406 8,320 23,899 106,763 78,529 76, 781 1,748 65,674 Sept. 3... 49, 751 16,927 8,925 23,899 105,328 79, 790 78,169 1,621 66,078 Sept. 10.. 51,382 17,117 10,366 23,899 101.122 78,453 77,533 920 64,838 Sept. 17.. 52,146 17,858 10,389 23,899 101,553 77,662 76,962 700 64,423 Sept. 24.. 51.071 17,036 10,136 23,899 99,802 77,641 75,187 2,454 63,282 Oct. 1__. 52,162 19,064 9,199 23,899 98,503 77,136 75,322 1,814 63,249 Oct. 8___ 47,280 15,834 7,547 23,899 100,810 75,021 73,371 1,650 63,086 Oct. 15__ 47, 765 16,013 j7,853 23,899 103,261 79, 744 76,756 2,988 63,014 Oct. 22,. 50,289 18,161 8,229 23,899 98,434 75,845 73, 563 2,282 62,152 Oct. 29-. 47,183 16,370 I 6,914 23,899 98,565 74,833 73,312 1,521 61,120 Nov. 5... 45,130 13,717 i 7,514 23,899 105,466 76,475 74, 964 1,511 61, 920 Nov. 12.. 48,148 16,246 | 8,003 23,899 103.123 75,923 74,425 1,498 64, 795 Nov. 19.. 37,304 15,993 | 7,160 14,151 123,612 77,615 72,919 4,696 79,846 Nov. 26.. 30,247 14,708 i 6,914 8,625 135,873 79,866 71,899 7,967 83,929 Dec. 3... 36,270 13, 782 I 8,337 14,151 130,266 74,063 71,224 2,839 84.373 Dec. 10.. 41,580 13,251 I 9,178 19,151 119,964 71,606 70, 709 897 83,303 Dec. 17.. 49,431 15,205 ! 9,808 24,418 114,410 71,474 70,545 929 83,560 Dec. 24.. 47,421 14,352 ! 8,651 24,418 117,621 73,088 69, 739 3,349 85,928 Dec. 31.. 48,472 11,301 | 10,788 26,383 113,632 71,351 69,521 1,830 84,599 i Includes "other securities.' Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

149 EACH FEDERAL RESERVE BANK No, 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued MINNEAPOLIS [In thousands of dollars] Bills bought in United States Deposits Total open market securities Federal bills Bills Total I reserve Date s t e a i c e n u d s r i i- co d u i n s- ted B r o o i u u g t g h - h t t U a m g n r e d e n e e t r - B r o o i u u g t g h - t ht U a r m e g n s e r d a e n e l e t e r - c s a e s r h v r e e s - Total b b r e M a e r l s e a e b m n r a - v c n e e k s p O o d t e s h - i e ts r n c o i t r t i e c o s u n l i a n - 1930 Jan. 8____ 33,047 9,204 7,285 16,438 89,550 53,551 51, 866 I 1, 685 67, 283 Jan. 15... 28,423 4,238 7,414 16, 771 91,790 51, 530 50,132 | 1, 398 64,884 Jan. 22... 30,951 5,613 8,421 16,917 90,518 53,344 51,942 | 1,402 64, 038 Jan. 29... 30,012 5,217 8,032 16, 763 89,404 51,967 49,834 | 2,133 62, 74? Feb. 5... | 29,412 2,728 9,795 16,889 88, 561 50,065 48,895 ! 1,170 62, 585 Feb. 12.. ! 28,852 2,457 9,594 16,801 87,438 49,915 49,060 | 855 61, 756 Feb. 19.. ! 29,936 2,997 9,902 17, 037 87, 257 51, 561 49,996 i 1,565 CO, 874 Feb. 26.. I 31,034 2,571 11,005 17,458 85, 725 51, 624 50,396 ! 1,228 j59, 895 1 I Mar. 5_._ 29,982 2,583 10,383 17,016 89, 747 ! 54,193 53. 624 i 5'39 |60, 825 Mar. 12.. 33, 371 2,190 13,917 17, 264 83,079 51,819 51,199 ! 620 I59, 696 Mar. 19.. 33, 923 2,252 12,925 18, 746 82, 538 52, 589 51,889 | 700 |59, 663 Mar. 26.. 32, 635 2,211 11,995 18,429 82, 689 52, 061 51,483 ! 578 58, 720 Apr. 2... 32, 396 2,285 11, 633 18,478 84, 028 51,189 49,261 ! 1, 928 60,511 Apr. 9... 32, 285 2,373 11,335 18, 577 84,211 52, 042 50,493 i1, 549 CO, 108 Apr. 16.. 32, 542 2,474 11,617 18,451 85,128 54, 346 52,969 !1, 377 59, 578 Apr. 23.. 35,111 4,263 12, 306 18,542 82,701 54, 205 52,459 !1,740 59, 619 Apr. 30.. 30, 773 3,681 8,615 18,477 85,730 52, 578 51,113 |1,465 59, 616 May 7 29, 796 4,249 7,160 18, 387 88,285 54,467 52.855 I1,612 59,152 May 14.. 34,344 3,953 6,943 23, 448 79,215 I 51,152 50,210 j 942 57, 511 May 21— 33, 703 3,231 7,015 23,457 79,526 51,877 50,834 j 1,043 56, 928 May 28— 34,188 3,561 6,648 23,979 78,933 j 53,003 50, 664 |2,339 55, 283 June 4... 34,973 3,622 7,429 23,922 79,756 ! 54,520 52,740 I1,780 55, 554 June 11. _ 35, 621 3,434 25, 289 76, 073 52, 737 51,171 1,566 54, 748 June 18._ 35,104 3,750 6,090 25, 264 78,343 53,207 52,560 647 54,445 June 25._ 35,833 3,946 6,240 25, 647 74,619 52,381 ! 50, 401 1,980 53, 360 July 2... 37, 298 4,629 7,472 25,146 72, 541 50,188 48.856 1,332 54, 367 July 9... 35, 785 4,051 6,369 25, 314 74,023 51, 644 50,059 1,585 53,990 July 16.. 37, 306 4,118 8,056 25,081 73,454 52,837 51, 659 1,178 53, 269 July 23... 4,251 7,227 25, 248 71,954 51, 563 50, 205 1,357 51, 676 July 30... 35,888 4,335 6,265 25,215 67, 682 48,481 47,095 1,386 50,447 Aug. 6__. 34,953 4,423 5,382 25,126 71,487 51,012 49, 496 1,516 50,176 Aug. 13.- 36, 551 4,460 6,065 26,004 67, 089 49, 293 48,222 1,071 49,159 Aug. 20.. 37,119 4,420 25,979 67,117 50, 031 48,910 1,121 48,890 Aug. 27... 37,479 4,338 6,956 26,163 66, 707 50, 222 48,112 2,110 48, 552 Sept. 3... 37,428 4,082 7,400 25,924 71, 635 51,759 I 50,964 ! 795 50, 757 Sept. 10.. 37,814 4,141 7,723 25,928 70, 298 51,731 50,436 !1,295 50,958 Sept. 17.. 38,106 4,237 7,893 25,954 70,245 51,479 50,947 | 532 52,108 Sept. 24.. 37, 688 4,039 7,684 25,943 70,143 51,662 I 49,985 i1,677 51,434 Oct. 1____. 37, 773 4,012 7,615 26,124 70, 643 51,375 49, 504 1,871 51,137 Oct. 8—. 36,283 3,941 6,263 26,057 74,925 53, 749 52, 588 1,161 51,806 Oct. 15... 36, 634 4,299 26, 233 70,056 52,436 51, 695 741 51,105 Oct. 22... 36, 257 4,813 4,753 26, 644 71,997 53,054 51, 648 1,406 49, 781 Oct. 29... 35,071 4,148 4,788 26,063 72,026 j 53,115 51, 346 1,769 48, 695 Nov. 5... 34,852 3,710 5,068 26,027 75, 538 56,062 54, 595 1,467 48,930 Nov. 12.. 35,032 3,602 5,462 25,921 71, 563 53, 513 52, 731 782 48, 766 Nov. 19.. 35,173 3,843 4,776 26, 507 71,464 52, 582 51, 203 1,379 48,166 Nov. 26... 35,379 3,812 4,753 26, 716 70, 692 52,822 51,306 1,516 47,823 Dec. S.- 36,862 3,798 6,519 26,437 71,111 53,113 51, 690 1,423 49, 510 Dec. 10. _ 36,909 3,880 6,563 26,358 70,006 51,548 50,921 627 49,732 Dec. 17... 37,250 3,861 26, 239 72,467 52,971 52,431 540 51,353 Dec. 24... 37,275 4,162 6,621 26,25.9 72, 680 51,965 49,530 2,436 53, 925 Dec. 31... 39, 522 3,576 8,411 27,302 68,669 49,998 48,447 1,551 53, 558 J Includes "other securities.'1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

150 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued KANSAS CITY [In thousands of dollars] Bills bought in United States Total open market securities Deposits Federal bills Bills reserve Date se a t c i n e u d s ri- co d u i n s t - ed B r o o i u g u g h t- h t t U a r m e g n s r e d a e n e l e e t r - B r o o i u g u g h t- h t t U a m g n r e d e n e e t r - n c o i t r t i e c o u s n l i a n - 1930 39,759 33, 279 3,417 3,063 138,736 90, 375 88,944 1,431 87,675 J J J J a a a a n n n n . . . . 8 1 2 2 5 2 9 — — — 2 3 2 7 0 8 , , , 6 6 7 9 1 9 9 5 3 2 2 2 5 4 3 , , , 8 9 6 1 3 8 1 6 7 I 9 6 1 4 1 , 9 6 919 3 3 3 , , , 0 0 0 6 6 6 3 3 3 1 1 14 4 4 4 8 8 , , , 9 2 3 3 0 8 6 7 6 9 9 8 1 2 9 , , , 0 5 6 5 6 5 8 5 9 9 8 9 7 0 0 , , , 7 0 2 1 8 8 5 6 2 1 1 1 , , , 3 9 8 6 7 5 9 6 4 8 8 8 5 3 1 , , , 7 4 2 7 9 5 6 2 7 Feb. 5—. 30, 076 26, 552 461 3,063 140, 686 85,428 84,141 1,287 81,932 Feb. 12... 29, 377 26, 043 271 3,063 141,117 92,075 84,923 7,152 80,840 Feb. 19... 22,086 18,932 91 3,063 147, 054 86, 661 85,175 1,486 79, 664 Feb. 26... 31, 542 21, 009 7,470 3,063 138, 409 88,445 86,874 1,571 78,844 Mar. 5—. 33, 515 20, 743 9,709 3,063 132,998 84, 091 83, 677 414 80,383 Mar. 12... 28,101 14, 722 10, 316 3,063 143,031 89, 667 89,286 381 78,823 Mar. 19... 30, 957 13,274 11, 760 5,923 140,826 88,416 87,891 525 79,286 Mar. 26... 27, 759 9,136 5,925 141,133 87, 802 86,994 77,609 Apr. 2.... 27, 716 12,322 9,470 5,924 142, 361 88,153 85, 577 2,576 77,864 Apr. 9-... 29, 496 12, 308 11, 264 5,924 140, 309 88, 556 87,007 1,549 77, 626 Apr. 16... 30, 306 11, 880 12, 502 5,924 137, 642 90, 534 89,141 1,393 76, 301 Apr. 23-_. 31,982 13,178 12,880 5,924 140,139 89, 386 87, 786 1,600 75, 605 Apr. 30... 32, 726 15, 099 11, 703 5,924 134,192 89,097 87,285 1,812 74, 203 May 7.... 31, 392 13,825 i 11,143 5,924 500 134,474 87,997 86, 267 1,730 ! 74, 664 May 14... 42,821 14,718 ! 11,678 15, 925 500 123, 735 90, 794 89, 520 1,274 | 73, 040 M Ma a y y 2 2 8 1 — — 4 38 0 , , 6 7 8 2 5 0 1 1 6 5 , , 1 6 3 0 4 6 | ! 8, 6 7 , 5 2 4 61 1 15 5 , , 9 9 2 2 5 5 4 40 0 0 0 1 12 2 5 3 , ,1 8 0 5 9 3 8 87 9 , , 0 5 4 8 6 4 8 8 4 7 , , 8 9 2 9 3 0 2 1 , , 0 76 5 1 6 i 7 7 2 1 , , 1 5 3 8 9 0 ! June 4 38, 377 15,279 ! 6,049 16,749 ! 127, 675 89,977 88,376 I 1,601 |72, 262 June 11— 39,860 15,771 I 5,353 18,736 122, 725 87, 521 86, 039 ! 1, 482 7|1,464 June 18._. 36, 558 13,488 | 4,334 18,736 ' 131, 243 93, 021 92,724 i 297 170,364 June 25—. 45,488 12,591 4,161 28,736 ! 117, 071 90, 291 87,920 j 2,371 I69, 244 July 2 45, 932 11, 577 5,619 28,736 j 114,780 88,342 87,170 1,172 70,153 July 9 44, 609 11,178 4,695 28,736 ! 119,965 91,166 89, 265 1,901 70, 767 July 16.. . 44, 723 10,085 5,902 28,736 I 118, 741 91, 295 90,094 1,201 69, 578 July 23.. . 44,059 9,755 5,568 28,736 ! 120,824 92,696 91, 555 1,141 69, 235 July 30... 43, 750 9,441 5,573 28,736 j 121, 572 92,437 90,969 1,468 68,432 Aug. 6 43,829 9,370 5,723 28, 736 123,837 88,394 944 69,840 Aug. 13— 46,106 9,115 8,255 28, 736 118, 356 90,900 88, 265 2,635 69,445 Aug. 20— 47, 328 8,963 9,629 28. 736 118, 276 92,819 88, 747 4,072 69, 296 Aug. 27— 47,609 8,800 10,073 28, 736 114, 679 89, 978 87,113 2,865 68,566 Sept. 3—. 47, 734 8,703 10, 295 28, 736 120, 676 93,126 2,063 Sept. 10— 49, 406 8,510 12,160 28, 736 112, 665 89, 843 87, 444 2,399 69, 347 Sept. 17— 50,573 8,835 13, 002 28, 736 110,373 88,857 87, 731 1,126 68, 022 Sept. 24... 49, 905 9,004 12,165 28, 736 111, 020 89, 780 87, 230 2,550 67, 517 Oct. 1 47, 770 8,803 10, 231 28, 736 ! 112,422 89, 543 87, 745 1,798 Oct. 8 46, 679 9,214 8,729 28, 736 ! 114,194 89,013 87,064 1,949 67,989 O O O c c c t t t . . . 2 1 2 5 2 9 _ . . . _ _ . . . 4 4 4 8 7 7 , , , 0 4 0 1 5 8 7 0 5 1 1 1 2 0 0 , , , 0 8 1 3 5 3 5 4 0 8 7 7 , , , 2 4 5 9 4 8 5 6 4 2 2 28 8 8 , , , 7 7 7 3 3 3 6 6 6 ! ! | 1 1 1 1 1 0 4 0 7 , , , 4 8 5 9 9 5 7 2 1 8 8 9 7 8 2 , , , 6 0 9 4 4 9 9 5 0 8 8 9 7 0 6 , , , 4 6 4 4 6 9 0 8 2 1 1 , , 9 5 5 8 5 5 1 0 3 6 6 6 6 7 4 , , , 6 3 3 5 7 7 6 7 2 Nov. 5—. 50, 593 13, 541 8,316 28,736 ! 109,972 87, 260 86, 561 65,617 Nov. 12— 52, 224 14,159 9,329 28, 736 | 106, 425 86, 111 85,036 1,075 66,120 Nov. 19— 51, 386 12,832 8,912 29,642 i 108, 776 89,066 87, 258 1,808 68,711 Nov. 26— 52,990 14,819 8,189 29,982 102,933 85, 493 84, 344 1,149 66,430 Dec. 3 54, 222 16,372 8,208 29,642 102,915 85, 598 84,702 67, 765 Dec. 10... 54, 634 15,980 9,319 29, 335 102, 320 84, 624 84, 339 285 68,414 Dec. 17. _. 54,199 14, 720 10,142 29,337 106,921 87, 912 87,552 360 69,036 Dec. 24-.- 54, 224 15, 380 9,507 29, 337 104,408 87,877 85,482 2,395 70,887 Dec. 31.-- 59, 624 15, 042 12, 971 31,611 99, 571 89, 529 87, 705 1,824 68,424 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EACH FEDERAL RESERVE BANK 151 No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued DALLAS [In thousands of dollars] Bills bought in United States Total open rnarket secu]-ities Deposits Federal bills Bills _ Total reserve Date se a t c n ie u d s ri- co d u i n s- ted B r o o i u u g t g h - t ht U a r m e g n s e r d a e n e l e t e r - B r o o i u u g t g h - h t t U a r m e g n s r e d a e n e l e t e r - c s a e s r h v e re s - Total b b r e M a e r l e s a e b r n r a n c v n e e k sp O o d t e s h - i e ts r n c o i t t r i e c o s u n l i a n - 1930 Jan. 8 50,079 16,170 8,849 37 25, 023 68,194 67, 463 64,995 2,468 44,904 Jan. 15 48, 634 12, 945 9, 843 211 25, 635 64, 264 64, 802 63,470 1,332 42, 301 Jan. 22 .. 48, 339 11, 407 10, 967 330 25, 635 66, 467 66, 684 63, 837 2, 847 41, 023 Jan. 29 48, 605 12, 328 10, 254 3S8 25, 635 64,879 67, 742 64, 564 3,178 39,170 Feb. 5 50, 259 11, 896 12,425 303 25, 635 63,146 67, 095 63, 568 3,527 40, 351 Feb. 12.._. 49, 870 11,097 12, 843 295 25, 635 60, 804 64, 244 63,116 1,128 40, 367 Feb. 19 ... 50, 029 15, 265 13, 632 337 20, 795 69, 876 63, 980 63, 631 349 47, 670 Feb. 26 — 47, 601 11, 068 15, 646 252 20, 635 64, 896 65, 482 63,134 2, 348 40,670 Mar. 5 45, 832 11,105 13, 749 318 20, 660 67, 373 67, 442 454 39, 623 Mar. 12 _ 42, 860 i 9,634 12, 489 102 20, 635 65, 009 63.955 63, 653 302 37, 559 Mar. 19 .. 37,274 5,892 10, 585 162 20, 635 71,910 62; 684 62, 442 242 36, 706 Mar. 26— 39,759 5,579 8, 341 202 25, 637 70, 419 68, 956 68, 345 611 35,325 Apr. 2 40, 075 6, 579 7, 744 115 25, 637 65, 765 63,156 61, 207 1,949 34,873 Apr. 9 40, 941 7,190 8,061 53 25, 637 66, 253 65, 807 61,496 4,311 34, 4S3 Apr. 16.... 41, 334 7, 780 7,739 178 25, 637 64, 727 64, 938 61, 337 3,601 33,357 Apr. 23,,.. 41,136 7, 551 7. 784 164 25, 637 66, 040 66, 203 63,177 3,026 33,432 Apr. 30 40, 217 8,190 6, 189 231 25, 637 62, 322 62,987 61, 709 1,278 32, 409 May 7 40, 555 9,192 5,486 195 25, 682 63,618 64, 298 62, 015 2,283 32, 413 May 14____ 39, 825 7,776 6,314 98 25, 637 61, 477 62, 944 61, 520 1, 424 31, 338 May 21— 41,711 8,809 7,209 56 25,637 62, 733 65, 089 63,300 1, 789 31, 503 May 28 40, 040 8 596 5, 807 25 637 61, 633 63, 046 61, 232 1,814 30,460 June 4 40,814 9, 643 4, 792 26, 379 65,189 62, 290 60,190 2,100 32,190 June 11 42, 278 10, 358 3, 750 28,170 58, 683 61,454 59, 291 2,163 32,036 June 18 41, 397 9.896 3, 331 28,170 60, 343 59,575 59, 342 233 31,933 June 25. 41,050 9,986 2, 894 28,170 61,967 63, 679 59, 571 4,108 31, 398 July 2. 42, 742 10, 073 4,499 28,170 59, 647 61,540 59,815 1, 725 32, 374 Julv9 43,087 10,549 4, 368 28,170 58, 787 62,118 60,158 1,960 32, 491 July 16 44, 467 11,007 5 290 28 170 56, 140 61, 390 60, 622 768 31, 534 Julv 23 . 45, 785 ] 2. 224 5, 391 28,170 55, 283 61,154 59, 362 ],792 31, 557 July 30 45, 492 12, 815 4, 507 28,170 53,611 59, 352 57, 345 2,007 30,455 Aug. 6 45, 689 13, 253 4,266 28,170 ::::::: 53, 58! 59, 102 57, 678 ], 424 32, 069 Aug. 13.— 48, 948 14,098 5, 621 29. 229 51, 551 60, 281 58, 530 1,751 31,959 Aug. 20— 49,788 13,985 6, 574 29, 229 53,683 60, 070 58, 795 1, 275 33, 276 Aug. 27 50, 230 14,267 6,734 29, 229 53, 689 60, 836 58, 470 2, 366 33, 336 Sept. 3 50, 864 14, 406 7,229 29, 229 53, 900 62, 053 59, 334 2. 719 34, 584 Sept. 10._.. 52, 066 13,968 8.869 29, 229 52, 802 61,420 59, 834 1, 586 34, 863 Sept, 17 . 51,035 12, 786 9,020 29, 229 54. 887 61, 528 61, 043 485 34,633 Sept. 24.... 50, 320 11,961 9,130 29, 229 01,503 67, 528 61, 703 5, 825 34, 839 Oct. 1 48, 403 10, 633 8,541 29, 229 56.531 61,013 59,359 1, 654 34,901 Oct. 8 47,191 10,316 7, 646 29, 229 58, 559 61,685 58, 843 2, 842 35, 499 Oct. 15 47,577 10, 579 7,769 29, 229 60,617 65, 223 63,662 1,561 34, 550 Oct. 22_._. 45, 610 9. 984 6, 395 29, 231 60, 264 62, 510 59, 373 3,137 34,039 Oct. 29 44, 744 9, 449 6, 065 29, 230 58,217 61,650 59, 293 2,357 32, 732 Nov. 5 44, 868 8, 991 6, 648 29, 229 60, 225 60,777 57, 364 3,413 33, 517 Nov. 12... _ 44, 806 8,450 7,127 29, 229 59. 535 62, 980 59, 021 3, 959 33,097 Nov. 19_-__ 44, 297 7,949 5,960 30, 388 .59, 133 60, 881 57, 855 3,026 32, 565 Nov. 20 44, 528 8,286 6,107 30 135 5S,109 61,042 58, 820 2,222 31, 955 Dec. 3 43,984 7, 535 6, 561 29,888 60, 371 62, 085 59, 073 3,612 32,610 Dec. 10 44, 327 7,347 7,321 29, 659 54,834 57, 858 57, 499 359 32, 286 Dec. 17 44, 387 6, 586 8,139 29 662 57, 293 60, 226 59,940 280 32,154 Dec. 24 43, 440 6,688 7,090 29, 662 57. 228 59, 710 57. 641 2, 069 33,411 Dec. 31 14, 233 4, 342 8, 575 31.316 ------ 53, 528 58, 498 57, 533 965 31,901 1 i 33454—31- -11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

152 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 78.—PRINCIPAL RESOURCES AND LIABILITIES OF EACH FEDERAL RESERVE BANK, BY WEEKS—Continued SAN FRANCISCO [In thousands of dollars] I Total | i B o i p ll e s n b m ou a g r h k t e i t n Un s i e te c d u r S it t i a e te s s Deposits I bills Bills Total Date ! I I s a e ti n c e u d s ri- co d u i n s- ted Bo o u ut g - ht U re n s d a e le r Bo o u u g t- ht Under c s a e s r h v r e e s right ment right a m g e r n e t e - [ | 1930 Jan.8 80,899 : 35,698 25, 986 7,389 11,816 308,974 Jan. 15—. I 59,841 ! 15,935 30,093 1,997 11,816 314,725 Jan. 22J... 70,562 : 20,574 33,335 4,837 11, 816 309,439 Jan. 29___. i 64,423 I 18,889 31, 915 1,803 11,816 305, 781 Feb. 5 — . | 67,620 ii20,772 32,001 3,031 11,816 300,605 165, 746 Feb. 12.. 54,504 ii10, 004 29, 806 2.878 11,816 319,982 168,413 Feb. 19... 58,503 i|12, 927 32, 734 981 11,861 307,576 161,949 Feb. 26... 70,538 !|17,194 34, 674 6,809 11,861 292,441 160.159 Mar. 5-.. 77, 931 24, 298 ! 39,1892,583 11,861 279, 389 161,901 Mar. 12... 77, 584 17,389 I 34,209 1,750 24, 236 282,723 158, 261 Mar. 19... 79, 057 8,294 | 29,8344,193 36, 736 264, 541 155, 707 Mar. 26- 72,100 8, 379 25, 023 2,003 36, 695 279, 384 153,455 Apr. 2... | 86,853 20, 959 25, 655 3,544 36, 695 270, 740 9,689 157,192 Apr. 9.-.. 77,177 11, 228 27, 612 1,642 36, 695 287,331 9,018 157,935 Apr. 16... | 78.306 10, 583 29, 979 1,049 36, 695 280, 259 10,977 157,186 Apr. 23.. i 83,987 12,910 31,028 3,354 36, 695 276,038 12,224 154,407 Apr. 30—. I 83,. 700 17,178 27, 298 2,529 36, 695 263, 570 10,290 153, 637 May 7.-. | 71,547 10, 974 22,321 | 1,557 36, 695 290,483 175,437112, 754 154, 787 May 14. _ j 68,429 8,449 23,285 ! 36, 695 290,970 175, 848|l0, 703 152, 927 May 21- ; 70,713 8,751 22,656 ; 2.611 36, 695 284,960 172, 537i10, 289 152, 657 May 28- ! 77,894 11,331 21,667 I 8,201 36, 695 272, 333 167, 033! 9,807153,191 June 4 -i 68,064 | 8,888 19,590 ] 2,S?.l36,695 292,297 185,153 175, 810 9, 343 155,975 June 11_- -| 65,943 ! 8,51817,775 ! 2.95536, 695 294, 727 185, 320 176, 381 8, 939 156, 316. June 18— -i 70,634 12,15f 16,506 I 5.274 36, 695 279, 226 178,036 169,939 ! 8,097155, 245 June 25..-! 61,498 8,328 15,505 j 970 36, 695 293,170 180, 399 169.734 110, 665 155, 018 July 2... | 69,153 17, 819 14, 639 36, 695 296, 703 182,104 172,298 j 9,806 166.160 July 9... 57,984 8,392 12,897 36.695 313,611 189,100 177,493 11,607 165,345 July 16.. 60,446 7,937 15, 814 36, 695 298,245 182,442 173,279 I 9,163 160, 371 July 23.. 60, 624 8,406 15, 523 36, 695 295, 836 178.723 168,508 !lO,215 158,162 July 30.. 60,441 9,817 13, 929 36, 695 289, 764 177,947 166,230 |11, 717 153, 342 Aug. 6-... 58, 414 8,659 12,038 1,022 36, 695 298,613 179, 900 170,681 i 9,219 159,081 Aug. 13- 62,061 7,770 13,928 1,354 39,009 294,369 180,297 171,218 I 9,079 157,138 Aug. 20... 63, 510 7,628 16, 873 39, 009 299,366 186.124 176,564 I 9,560 157, 779 Aug. 27- 63, 821 7,518 17,294 I 39,009 304,485 189, 246 179,626 j 9,620 158,023 Sept. 3... 66, 767 7,925 17, 932 1,901 39, 009 296,027 180.114 170,441 I 9,673 163, 034 Sept. 10.. 64, 844 7,221 18, 614 39, 009 192,396 183,586 i 8,810 162, 340 Sept. 17.. 65,465 6,624 19,832 i 39,009 300,243 190, 552 180,608 1 9,944 |158,063 Sept. 24.. 69, 443 6,216 21,193 ~3,~625~I 39,009 282, 389 179, 677 169,374 110, 303 j154,194 Oct. 1... 70,112 j! 5,672 20, 795 4,636 39,009 289,122 184, 364 173,853 10,511 I155,085 Oct. 8... 63, 5,280 19, 699 • 39,009 301,100 188, 744 178,887 9,857 157, 583 Oct. 15.. 68, 601 5,327 21,005 ~3~260"i 39,009 289, 949 183,343 173,099 10,244 157,045 Oct. 22.. 71, 574 6,974 22,342 3,249i 39,009 285,220 184,748 174,433 110,315 \152,042 Oct. 29.. 66, 370 6,474 20, 887 I 39,009 286,146 181,721 170,290 11,431 149,954 Nov. 5... 75,006 7,165 24,759i 4,073 39, 009 287, 737 186,710 177,084 ! 9,626156, 607 Nov. 12.. 74, 652 6,137 26, 552 2,954 39,009 298, 777 197, 216 186,922 10,294 156,489 N N o o v v . . 2 19 6 . . . . 7 7 4 7 , , 8 3 4 6 3 6 | 5 7 , , 9 7 8 6 0 5 2 2 4 5 , , 4 5 2 7 5 8; 3 3 , , 9 0 8 3 7 2 4 4 0 0 , , 4 9 5 9 1 1 2 28 9 7 8 , , 8 2 2 2 4 8 2 1 0 9 1 0 . , 7 5 2 9 4 4 1 18 8 3 9 , , 5 4 7 4 5 2 1 i 2 , 7 1 , 4 1 9 52 1 1 5 5 2 4 , , 3 4 0 7 9 7 Dec. S.- 85, 356 13. 940 26, 620 4,345 40,451 i 287,615 198, 229 189,057 9,172 155, 505 Dec. 10— 79,107 5,994 27, 614 5,537 39,962 295,921 196,330 188, 657 7,673 157, 376 Dec. 17- 120,805 47, 949 27, 716 5,176 39,964 266,408 194.125 186, 275 7,850 175,057 Dec. 24._ 124, 448 54,150 25,474 4,860 39,964 ! 273, 220 193. 689 184, 505 9,184 188, 704 Dec. 31- 97, 588 15,483 26,154 4,869 51,082 ! 298, 747 191, 426 182, 583j 8,843 185,839' Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

VOLUME OF OPERATIONS OF EACH FEDERAL RESERVE BANK No. 79.-—VOLUME OF OPERATIONS IN PRINCIPAL DEPARTMENTS OF EACH FEDERAL RESERVE BANK, 1930 Federal reserve bank Total Boston New York Ph p il h a i d a el- Cleveland i 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 ci s F c r o an- NUMBER OF PIECES HANDLED: 1930 Bills discounted: Applications. _ 99,420 5,5471 14,002 14,714 13,444; 10, 0191 10,100 8,796 7,156! 2,158 4,883j 3,729i 4,872 > Notes discounted 415,268 38,541; 44,8411 51,235 20,906' 45, 279| 63,285 38,8471 21,944i 11,096 29, 742; 33,731 15,821 O Bills purchased in open market for own account 20S, 485 22,6131 96,173! 1,452 8,585j 4,4 8,660 17,728J 5,260; 4,372 4,427j 7,226; 27,500 Currency received and counted 2,441,989,000 258,983, OOO! 730,751,000 211,091,000 156,626, OOO! 122,353,000 125,991,000 409,291, OOO1II8,675,000 44,356, 000 66, 564,000J62, 353,000; 134,955,000 Coin received and counted.. 3, 325, 555,000355,855,000; 1,520,441,000 334,963,000 153,040,000ll69, 649,000 70,846,000 323,631,000 125,866,000 19,622,000 66,618,000|49,585,000 135,439,000 Checks handled.- 904,975,000 93,658,000! 187,951,000! 73,392,000 87,508,000! 54,109,000 31,496,000|128, 039. 000 49,465, 000 23,448,000 69,881,000138,848,000i 67,180,000 Collection items handled: I ' j ; ; I U. S. Government coupons paid 19,362, 000 1,275,000 5,310,000; 1,487,000! 2,861,000 568,000 412,000! 3,299,000! 1,104,000! 534,000 l,064,000| 312,000 1,136,000 Allother 6,388,000 394, OOOJ 2,531,0"000;! 570,OOO! "36"4' ,0"0"0"*' "2"7'1 ,"0"00 166,000j 753,000| 337,000 246,000 317,000! 139,000 300,000 U. S. securities, issues, re- § demptions, and exchanges-| 1,417,000 75,000| 515, OOo! 61,000 98,000^ 30, OOOi 35,000 318,000 78,000; 34, 000 87,000 35,000 51,000 Transfers of funds 1,868,000 57, OOO! 412,000^ 126,000! 127,000i 139, OOO! 85,000! 328,000; 133, 000 63,000 134,000 115,000 149,000 l AMOUNTS HANDLED: 1930 (in millions of dollars) i Bills discounted 14,067.1! 582.5 5,713.8 927.4 1,366.71 1,205. 5| 516.0 1,171. 3| 921.41 88.3| 290.6| 174.0 1,109. 6 Bills purchased in open market for own account _. 3,873.71 326.4 2,024.5| 28. 5l 151.9! 95.3! 124.3 359.3! 93.9! 66.2! 72.7; 83.9 446.8 2 Cu c r o r u e n n t c e y d received and 14,262.8 1,635.4j 1 4,949.2; 1,130.2i I 901.81 587.11 564.1 2,262. 7; 504.5 226.3 314.5 274.8 912.2 Coin received and counted.. 537.51 36.2! 261.51 47.4 15. 5j 15.7! 12.8 35. 5i 13.1 5.0 12.3! 7.6 74.9 Checks handled— 324,883.0! 19,925.9! 142,165.9! 30,426.9 26,768.91 12,795. Oi 10,428.1 30,271.3 14,409.7 4,169. 3 10,430.4; 7,769.6 15,322.0 Collection items handled: U. S. Government coupons paid 499.1! 31.8! 233.81 28.11 56.1! 10.5; 5.9 60.41 16. 5' 9.3! 17.1 5.7 23.9 Allother. 7, 528.0 905. 2| 2,862.3 475.8j 509.0: 231.1! 147.4 1,183.6| 291.9; 130.9 j 257.9 69.6 363.3 U. S. securities, issues, redemptions, and exchanges- 7,245.21 279.3J 4,165.6 352.5 262. 3i 124.9| 148.9 1,025.11 180.3 80.5 142.6 171.9 311.3 Transfers of funds. _ _ 10,118.4! 73,520. 5! 12,430. Oj 10, 730. 3! 6,725. lj 2,562.5 35,038.6i 6,773.4 2,346. 7 7,486.3 5,866.4| 25,282.7 Back figures.—See Annual Reports for 1929 (Table 73), 1928 (Table 77), 1927 (Table 60), and 1924-1926 (Part II, Table 6), Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

154 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 80.—VOLUME OF OPERATIONS OF BRANCHES OF FEDERAL RESERVE BANKS Noncash collec- Fiscal tion items agency handled issues, Currency Coin re- F a ed nd e ra d l i s r t e r s ic e t r v n e u b m r b an er c h | B co il u l n s t d e i d s- r c e o c a u e n n i d v te e d d r c e o c a u e n n iv d te e d d h C a h n e d c l k ed s G m ov en er t n- } ! o A th l e l r | c o a d t h f n i e a o U d m n n g . e s p S e x , - . s - T o r f a n fu s n fe d r s s coupons securities NUMBER OF PIECES HANDLED 1930 No. 2—Buffalo 3,156 47,422,000| 33,585,000 13, 857, 000 58,064i 24, 400 No. 4—Cincinnati 33,935, 0001 49, 880,00020,420,0001 842,000 20, 238 Pittsburgh 54,548, 000J 44, 590,00031,784,000! 524,000 25, 755 No. 5—Baltimore 7,531 55,300,000!132,747,000 20,201,000; 309,445 32, 719 Charlotte 14,160,000 7, 496,000 6, 206,000; 21, 648 25,496 No. 6—Birmingham.._ 11, 327,000 7, 827, 000 5,014,000 18,634 7,037 Jacksonville 19,618,000 13, 755,000 5, 968,000; 51, 820 10,022 Nashville 15,746, 000 5, 283,000 6, 210,000 43, 723S 7,668 New Orleans-_ 14, 208 29,596,000 25,441,000 4,191, 000 129, 432i 16,532 No. 7—Detroit 7,565 85,025, 000 98,091,000 24, 750,000; 321,183i 50, 391 No. 8—Little Rock.... 3,321 9,372, 000 6,676,000 4,600, OOOl 32, 976! 13,400 Louisville 2,362 23,394,000 20, 830,000 9, 874,000S 206, 606| 15,618 Memphis 5,270 21, 549,000 12,099,000 3, 263, OOOi 48,2751 15,128 No. 9—Helena 2,342 1, 551, 000! 1,566,000 2, 287,000: 46,407.; 8,994 No. 10—Denver 3,661 8, 589, 000 8, 280,000 9.113,000 206,425j 19,061 Oklahoma City 9,451,000i 8, 755,00017; 701,000 45, 2821 8,603 Omaha 7, 261 9,151,000! 5, 724,00012, 566,000 180,281 i 25,972 No. 11—El Paso 870 5,077, 000 3, 246,000 3,181, OOOi 24, 215! 8,807 Houston 1,4691 12, 506,000 15,900,000 6,903,000 65,791! 25, 546 San Antonio._. 2,352| 12, 513,000i 7,937,000 5, 794,000| 34, 687! 14,180 No. 12—Los Angeles 1, 472! 67, 674, 000J36, 318,000 24, 588,000i 285,0571 35, 630 Portland 3,1 6, 214, 000; 9,521,000 8,128,000! 154, 877! 15,095 Salt Lake City. 3,922 4,378,000 3,146,000 7, 626,000i 76,412! 19, 383 Seattle 666 12, 434, 000 11, 873, 000 6,711,000| 131,878! 16, 925 Spokane 4,517 2,434, 000 924, 000 4, 364,0001 69,407 8,603 Total . 75, 025 572, 964, 000'571, 490, 000 265, 300, 000:3, 929, 000; 1,181, 471, 000 AMOUNTS HANDLED: 1930 (in thousands of dollars) I No. 2—Buffalo 271, 798 261,902! 3,272 3, 043, 278 No. 4—Cincinnati.. 156,873! 5,837 3, 675,008 Pittsburgh | 358,887| 4,564 14,113,995 No. 5—Baltimore j 312, 566 284, 774! 10, 684 4,042,967 Charlotte j 59, 712 1,093 1,304,127 No. 6—Birmingham... 51,792i 934 1, 501,165 Jacksonville j 98, 577| 1,878 1,815,212 Nashville ] 67,621! 759 1, 561,681 New Orleans-.{ 233,8471 110,183: 3,189 2,022,850 No. 7—Detroit 524,373; 545,680: 8,209 7, 259, 577 No. 8—Little Rock 199,370| 36,400| 710 995, 569! Louisville. 272, 621 114, 595| 1,684 2,823,182 Memphis 181,800; 76, 982! 1,992 1, 081,057 No. 9—Helena 4,033 13, 394] 612 377,888 No. 10—Denver 47, 558 51,913! 2,181 2,007,180 Oklahoma City I 41, 309 1,408 2,064,489 Omaha 52,491 51,022 2, 548 1, 711, 937 No. 11—El Paso J 19,425 27,868 1,235 490, 671 Houston .. 19,409 53, 702! 1,571 1, 613, 072 San Antonio...' 25,077 53,713 1,571 1,022,696 No. 12—Los Angeles I 40,539 329, 225 14,582 4, 010,198 Portland ! 62,324 46,170 1,445, 260 Salt Lake City.i 39,093 35, 375j M29 Seattle I 102,294 96,010 6,421 1, 355, 551 Spokane 20,437 20, 001 363 549,450 Total 2,429,055 3,043,680 0, 62462,834,956 Back figures.—See Annual Reports for 1929 (Table 74), 1928 (Table 78), 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 and counted during 1930 by agencies of the Federal Reserve Bank of Atlanta;: Habana, Cuba, 5,518,000 pieces, amount $52,608,000; Savannah, Ga., 3,215,000 pieces, amount $10,428,000. Coin received and counted by Habana, Cuba, 320,000 pieces, amount $3,615,000; Savannah, Ga., 801,000 pieces, amount $155,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL BEPORT OF THE FEDEKAL RESERVE BOARD 155 GOLD SETTLEMENT FUND NO. 81. SUMMAKT OF TRANSACTIONS THROUGH THE FUND, BY DISTRICTS, 1930 [In millions of dollars] Daily settlements between Fed- Interreserve eral reserve banks bank transfers Balance 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 a i n n l o g r t e s e - W dr a a i l t w s h - - De i p ts os- i o a n t f b c fu l u o n s s d i e - Pay- Re- ness ments ceipts Dec. 31 Pay- ; Receipts Pay- ce R i e p - ts Boston 4.4 12,557.7 12,699.2 80.4 33.6 203.5 58.6 50.0 134. 6 18.7 New York 154.8 50, 367. 5! 50,496.8 77.3 202.9 462.4 775.8 813.3 225.5 135.4 Philadelphia 25. 2 13,622.5 13,804.5 78.5 51.3 170. 3 40.9 52.2 62.9 61.4 Cleveland.. 71.0 11,880.6 ''11, 976. 6 48.8 129.5 55.0 66.6 60.1 36.2 Richmond - 8.1 7,945.3 ! 8, 095.0 41.2 41.0 156.0 13.4 75.1 78.3 18.2 Atlanta 5.6 4,199. 0 4,172.5 41.2 47.3 59.0 34.2 187.8 238.2 10.8 Chicago 86.5 20,840.3 20,842.4 90. 5 92.4 174.5 230.9 434.1 336.9 49.7 St. Louis 21.0 7,080.1 : 6, 979. 4 43. 8 38.7 38.5 76.2 69.2 135.1 18.7 Minneapolis. 18.1 2,479.4 2,404.0 | 22.2 23.8 16.0 33.8 15.0 63.0 10.1 Kansas City 52.0 6.4 5, 729. 2 37.4 32.1 20.0 74.2 10.0 87.9 21.6 Dallas 15.8 4, 649.1 4, 626. 5 17.9 25.0 47.5 21.6 34.1 69.3 9.7 San Francisco 48.8 9, 930. 4 9, 632. 1 40.2 32.5 53.0 115. 6 256.5 478.2 27.1 Total 511.2 151, 458. 3 151, 458. 3 I 669. 4669.4 1, 530. 21,530. 2 2, 063. 81, 970. 0 417.4 Back figures—See Annual Reports for 1929 (Table 75), 1928 (Table 19), 1927 (Table 66), etc. FEDERAL RESERVE AGENTS' GOLD FUND No. 82.—SUMMARY OF TRANSACTIONS THROUGH THE FUND, BY DISTRICTS, 1930 [In millions of dollars] Federal reserve bank i B J a a l n a . n 1 ce d W raw ith a - ls T to ra b ns a f n e k rs Tr b a fr a n o n s m f k ers a b B t u a c s l l i a o n n s e e c s e s of Dec. 31 Boston i 189 6 115.0 40.0 114.6 New York . .. _ . -. ' S. 6 78.6 95.0 25.0 Philadelphia i 96 4 26.3 51.2 121.3 Cleveland 1 120 0 20.0 65. 0 165.0 Richmond . . . 60.0 47.0 65.0 78.0 Atlanta . - 119 4 181.5 184.5 122.4 Chicago - - 269 6 196.6 70.0 143.0 St. Louis 77 0 85.1 (8. 9 00.8 Minneapolis ' 52 0 30.5 15.0 36.5 Kansas City _ . _ > 70 0 18.0 10.0 62.0 Dallas 23.5 0.5 47.2 33.3 10.1 San Francisco i 176.8 256.0 | 2c0.0 170.8 Total 1. 262 9 .5 1,101. 7 j 947. 8 I 1,109. 4 Back figures—See Annual Report for 1929 (Table 76), 1928 (Table 20), 1927 (Table 68), etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

158 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD MEMBERSHIP IN PAR COLLECTION SYSTEM No. 83.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST, BY DISTRICTS Nonmember Nonmember Nonmember banks* banksi banksi Mem- Mem- Member ber ber End of month (1930) banks On par Not on banks On par Not on banks On par Not on list i par list list par list list par list Boston district New York district Philadelphia district January I 403 270 928 405 761 474 February 403 271 1 927 404 761 471 March 403i 269 ! 929 403 758 471 April ! 402 1 270 ; 929 404 758 472 Mav 402 270 925 402 757 468 June 401 270 1 923 400 756 467 July 400 268 1 923 401 755 463 August 398 267 i 921 401 756 461 Sppt.fvm bpr 398 266 ! 920 400 755 461 October 397 267 ! 919 401 754 458 November 397 263 917 402 754 455 December 396 260 914 395 753 451 i ! Cleveland district Richmond district Atlanta district January . .. ] 795 990 ' 9 512 571 533 425 250 917 February : 794 988 9 509 568 527 421 249 905 March 794 981 9 508 563 516 419 235 903 April. i 794 977 9 501 561 503 417 230 902 May 1 794 972 9 494 561 504 414 228 899 June i 781 963 ; 9 486 561 502 409 218 §91 July i 782 951 :' 9 484 560 501 408 216 S86 August i 780 948 i 9 485 554 499 408 211 893 September 779 945 •: 9 485 551 497 408 208 893 October 776 943 i 9 484 546 496 408 206 386 November __J 770 939 ' 9 481 542 480 404 196 881 December... ; 757 936 : 9 470 523 441 390 186 862 Chicago district St. Louis district Minneapolis district January... 3,173 i 3.458 230 5t>9 1.645 480 682 566 1, 088 February 1,167 3,435 230 565 1, 632 480 678 558 1,091 March.. i 1.153 3,413 229 560 1.613 485 670 549 1,076 April 1.151 3,379 22n 554 1.600 480 668 549 1,060 May 1. 145 3,354 231 553 1, 584 480 666 544 1,059 June 1,135 3.331 236 552 1, 571 480 664 542 1,053 July . 1.125 3,313 236 548 1, 563 48.1 661 530 1,055 August. 1,122 3,297 237 547 1, 543 483 658 526 1.053 September. 1.116 3,269 237 548 1, 537 481 656 522 1,051 October 1 l. in 3,254 238 548 1,523 483 656 514 1.035 November 1, 099 3,243 239 528 1,443 445 653 507 1,014 December 1,081 3,200 238 513 1, 404 417 642 497 1.007 Kansas City district Dallas district San Francisco district Januarv 892 2,080 199 740 602 210 606 632 62 February J 893 2,062 j 199 726 596 210 603 630 61 March 892 2,054 197 722 596 214 599 629 April 891 2,037 191 721 594 214 595 630 60 May 892 2,031 18.". 721 592 213 596 • 629 60 June . .. - 890 2,021 183 719 590 215 599 625 60 July 886 2.011 182 719 589 214 593 620 60 August. 886 1,996 '; 184 718 587 214 592 621 60 Rp.ptfiTnbpr S80 1,975 184 716 583 214 591 621 59 October 878 1, 955 187 708 583 213 589 619 60 November 874 1,942 189 698 578 215 584 619 60 December _ ... 871 1,917 191 684 572 211 581 615 61 1 Incorporated banks other than mutual savings banks. Back figures.—See Annual Reports for 1929 (Table 77), 1928 (Table 81), 1927 (Table 71), 1926 (Table 84), 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 157 No. 84.—NUMBER OF BANKS ON PAR LIST AND NOT ON PAR LIST IN EACH STATE ON DECEMBER 31, 1929 AND 1930 1929 1930 State Nonmember banks | Nonmember banks i Member 1 Member banks On par ! Not on | banks Not on list I par list 1 | par list1 New England: ', Maine.. i 55 47 ! 54 42 New Hampshire.. | 57 16; .I 57 15 Vermont _ i 46 45 ! ...j 45 43 Massachusetts 1 177 78 ! J 173 79 Rhode Island..- i 14 10 | ! 14 10 Connecticut. i 67 97 ; I 65 92 Middle Atlantic: i New York... _ I 666 268 L— ! 654 263 New Jersey _ 364 171 | I 358 166 Pennsylvania —.; 948 591 \ I 923 555 East North Central: ; Ohio ! 388 617 1 i 370 584 Indiana i 234 730 5 211 654 Illinois I 544 1,198 27 ! 495 1,073 25 Michigan... ; 273 575 2 i 262 543 1 Wisconsin J 172 556 235 | 166 534 233 West North Central: i Minnesota 276 226 552 I 265 199 543 Iowa - ! 291 977 87 ! 254 883 97 Missouri I 187 1,035 49 ; 179 896 55 North Dakota I 122 38 255 i 107 28 190 South Dakota j 101 117 166 ! 97 90 141 Nebraska 160 491 177 i 170 433 167 Kansas | 252 815 1 i 249 761 3 South Atlantic: \ Delaware \ 20 34 ; I 20 34 Maryland : 85 154 I | 78 150 District of Columbia I 12 31 L 12 29 Virginia j 172 192 ! 104 166 177 97 West Virginia ! 131 157 ! 9 ! 126 144 10 North Carolina-- | 72 53 294 i 61 37 224 South Carolina I 55 17 i 139 40 13 110 Georgia • 115 38 265 ! 102 26 248 Florida..- \ 61 60 106 57 38 99 East South Central: Kentucky j 145 394 i 23 132 357 27 Tennessee ; 104 156 232 ! 99 119 227 Alabama 1 119 20 205 ! 106 16 180 Mississippi j 38 15 | 259 32 11 217 West South Central: Arkansas J | 94 154 165 ! 73 , 96 127 Louisiana I 42 20 [ 164 j 35 I 23 161 Oklahoma j 294 324 ! 5 I 270 298 11 Texas ! 689 570 131 ! 635 533 136 Mountain: j Montana j 88 19 78 73 25 Idaho I 60 1 56 79 1 Wyoming { 28 53 5 29 50 4 Colorado I 123 149 119 141 6 New Mexico i 29 26 1 29 24 1 Arizona - I 17 26 3 15 23 3 Utah ! 42 38 61 Nevada \ 10 25 10 25 Pacific: i Washington _ i 146 154 40 140 149 40 Oregon ! 120 91 21 118 85 20 California | 217 208 208 202 Total I 8, 522 I 12,045 3,754 8,052 10,956 3,437 ^Incorporated banks other than Mutual Savings banks. Back figures—See Annual Reports for 1928 Table 82), 1926 (Table 65), and 1924 (Table 70). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

158 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD EARNINGS AND EXPENSES OF EACH RESERVE BANK No. 85.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK; AND DISPOSITION MADE OF NET EARNINGS, 1914-1930 Earnings Disposition of net earnings Franchise Profit (+) Federal reserve bank Gross Net Div p i a d i e d nds s f u T er r r r p a e l n d u s s t - o 1 t U e a . r x n S p m . a e i G n d o t t v o i - or f c o l a o r r s w r 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, 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 1929 70, 955,496 36,402,741 9, 583,913 22,535, 597 4,283, 231 1930 36, 424, 044 7, 988,182 10,268, 598 -2, 297, 724 17,308 Total 941,052,065 523, 204,165100, 941, 058 275,136, 225 147,126, 882 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 1929 5,160, 831 2, 766,134 634,112 2,132, 022 1930 2, 368, 086 253, 777 705, 949 -452,172 Total 64, 301,175 35, 929, 627 7, 519, 517 21, 298, 715 7, 111, 395 New York: 1914-15 345,035 -123,887 -123,887 1916 971, 026 414, 064 197 113 +286, 951 1917 4,929, 214 3, 078,481 , 942, 819 649, 363 649, 363 -163,064 1918. 25, 314, 736 21, 662, 917 t, 195, 026 20,467, 891 1919 35, 332, 412 27,959, 619 L, 291, 047 23,964, 678 2, 703,894 1920 _ 60, 525, 321 53,128,130 L, 477, 096 12, 332, 523 39,318, 511 1921 34, 710, 274 26, 093, 832 ,608,721 3, 782,671 20, 702,440 1922 11, 349, 279 3, 721, 593 , 652,138 -1,397,603 3,467,058 1923 11,413,183 3, 043, 679 , 749, 239 129,444 1,164,996 1924 8, 569, 350 616, 852 . 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 1929 19,314, 279 12, 263, 224 3, 544, 314 8, 718, 910 1930 10, 393,189 4, 588, 384 4, 013, 779 574, 605 TotaL 273,116, 241 178, 038, 968 29, 457, 289 80, 575,417 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 1929 6,076,048 3,801,988 938, 312 2,863,676 1930 2, 996, 243 1,102, 771 1, 002, 602 100,169 Total 70, 835,186 42,145, 654 9, 521, 764 27, 064, 989 5, 558, 901 Digitized for iF SReeA nSoEteR o n p. 161. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

159 EACH FEDERAL RESERVE BANK No. 85.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1930—Continued Earnings Disposition of net earnings Franchise Profit (+) Federal reserve bank Gross Net Div p i a d i e d nds s f u e T r r r r p a e l n d u s s t - o l t U a e x . r n S m p . a en id G t l o t v o - 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 j 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 I 2, 268, 688 692,436 861, 264 714, 988 1923 4,655,090 I 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 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 j 3,180,715 856,843 2,323,872 1929.. 3, 705,442 910,007 2, 795, 435 1930.. 3, 585, 202 | 783, 777 952,934 -169,157 Total- 81,781,907 ! 43,691.929 10, 710, 616 28, 971, 612 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 1929 3, 299, 609 1, 342,225 368, 601 97,362 876,262 1930 1, 641, 390 -28, 797 353,472 -382,269 Total I 45,280,078 23,219,115 4, 905, 337 12,113, 589 6,200,189 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 1929 4,116,049 1,428,518 321, 696 303,032 803,790 i 1930 1, 963, 724 323, 307 323, 307 Total 46,484,095 j 23,709,132 3,901,261 10, 857, 310 8, 950, 561 Chicago: 1914-15.. 268, 885 20,091 +20,091 1916 665, 937 403, 206 361, 319 +41,887 1917 2, 083,164 1, 231, 879 862,259 215, 799 215, 799 -61,978 1918 8,481, 747 6, 805, 081 604, 635 6, 200,446 1919 12, 012.078 8, 576, 204 700, 807 7, 875,397 1920 30, 303, 218 25,875, 749 792, 769 14, 688, 500 10, 394,480 1921 20,382,170 14, 505,117 853, 785 2,075, 323 11,576,009 1922 6, 748,863 1,405,215 876, 203 -657, 289 1,186, 301 1923 6,511,359 1,178, 355 904,371 27, 398 246, 586 1924 5, 202,169 909,123 909,123 1925 5,424,663 ] 1,121, 273 934,016 187, 257 1926 6,567,043 ! 2, 253, 923 985, 959 1, 267, 964 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 1929 9,889,451 ! 5,424,665 1,170, 363 3, 651,464 602,838 1930 4,834,153 ! 1, 054,328 1,211,418 -157,090 Total. _ ! 134,478,670 | 77,455.283 13, 296, 778 39, 936, 492 24, 222,013 Digitized for F1 SReAe SnoEteR o n p. 161. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

160 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 85.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OF NET EARNINGS, 1914-1930—Continued Earnings Disposition of net earnings Federal reserve bank Gross Net Div p i a d i e d nds s fe u T r r r r p e a l d n u s s t - o i 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 s i r t s i e ( ( d — +) ) ernment i forward St. Louis: ] 1914-15-.- $86,833 -$97,169 -$97,169 1916 297,948 141,017 $31,100 +109,917 1917 i 773,106 502,156 284,566 '; +217,590 1918. i 2,676,828 1,777,810 404,838 $1,603,310 ! -230,338 1919 -. 3,884,478 2,355,154 l 234,660 i 2,120,494 i 1920 ; 7,180,117 4,875,566 253,711 i 4,621,855 I 1921. 5,166,315 2, 951, 926 270,253 ! 1,042,564 I $1,639,109 i 1922 1 2,456,447 647, 572 283,166 I 276,450 I 87,956 i 1923...- „ -.-.! 2,753,435 1,182,163 296,810 407,070 ! 478,283 i 1924 _ 1, 688,143 203,937 304,976 -101,039 1925 ! 2, 055, 637 -93,540 306,753 -400,293 i 1926 .! 2,511,509 683,022 314,420 ! 368,602 i 1927 „ ! 2,228,079 775,681 ' 317,727 457,954 1928 l 2,901,925 785,159 : 321,855 ! 423,011 40,293 j. 1929 — - 3,247,936 885,884 319,231 ! 56,665 : 509,988 U 1930 1, 745, 685 1,114 315,839 j -314,725 ! Total ! 41,654,421 17,577,452 4, 259, 905 j 10,561,918! 2,755,629 Minneapolis: i 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 I 37,500 -44,542 1918.... , 2,049,954 ; 1,545,847 168,103 | 1,377,744 j 1919.. 3,007,041 2,333,943 180,186 | 2,153,757 • 1920 _ i 5,307,381 4,131,053 195,871 I 3,410,948 j 524,234 ! 1921. 4,966,311 3, 151,154 211,657 ! 488,530 i 2,450,967 i 1922.. 1,969,248 782, G95 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 j 1925.. 1,438,341 234,954 193,560 4,139 i 37,255 1926.. 1,622,333 448,033 187,609 26,043 i 234,381 1927.. 1,390,031 296,077 | 180,726 11,535 ! 103,816 I 1928.. 1, 710,304 614,704 j 181,203 43,350 ! 390,151 1929.. 1,926,031 794,762 1 184,030 l 61,073 549,659 1930.. 1,235,082 193,589 | 184,445 914 8,230 i Total . 31,008,468 15,677,983 2,918,340 j 7,643,902 5,115,741 Kansas City: 1914-15.... 102,474 -66,776 -66,776 1916 380,208 224,989 66,707 L. +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 i -157,432 664,813 1923.. 2,993,919 347,711 275,313 j 7,240 65,158 2,262,910 -253,182 265,697 I -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 I 16,198 145,775 1928.. 2,597,968 659, 760 253,254 j 40,651 365,855 1929.. 2,976,576 • 1,013, 586 256,549 75,704 681,333 1930.. lr~ """ -200,976 259, 397 -460,373 Total I 45,907,568 ! 19,486,555 3,845,794 8, 701, 661 6,939,100 j 1 See note on p. 161. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EACH FEDERAL RESERVE BANK 161 No. 85.—GROSS AND NET EARNINGS OF EACH FEDERAL RESERVE BANK, AND DISPOSITION MADE OP NET EARNINGS, 1914-1930—Continued Disposition of net earnings Federal reserve bank Trans- t F ax ra p n a c i h d is t e o s fe u r r r p e lu d s t l o U e . r n S m . e G nt o l v- 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 -205,736 1919 i 3,002,251 2,041,864 196,335 1,845,529 4, 904,522 3,228,231 225,424 3,002,807 4,239,574 1,613,564 252,211 1,361,353 2,085, 775 354,125 251,915 102, 210 % 356,436 332,282 251,429 80,853 2,157,964 249,789 15,235 1,813,626 255,239 22,896 2,127,049 257,502 599,709 1,741,922 256, 310 311,899 2,119,666 258,544 163,301 2,496,030 266,613 244,417 1.585,113 262,510 1,009 Total ! 33,972,462 San Francisco: 1914-15 115,961 -52,358 1916 316, 511 111,511 43,736 1917 : 885,802 456, 044 394, 776 1918 4,187,785 2, 809,164 497,675 I 2,448,174 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 i 1, 254,824 3,230,315 . 1922 1 4,821,202 1, 660,356 448,306 -185,721 1,397,771 I 1823 _ i 4, 615, 227 505T 426 467, 720 37,706 1924 3,487,931 250, 516 480,561 1925 ; 3,848,890 490,447 490,447 1926 4,554,860 1, 555, 506, 068 1, 055, 424 547, 062 1,974,258 625,75] 2, 205,922 670,085 -355, 689 682,946 Total i 72,231,794 3 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; K Ph a i n l s a a d s e l C ph it i y a , , $2 $ 0 3 8 6 , , 1 3 7 6 0 6 ; ; S R a i n c h F m r o an n c d i , s c $ o 2 , 0 $ ,4 30 5 G 9; f 9 A 26 tl ; a t n o t t a a , l , $ $ 2 3 1 ,1 3 2 ,6 9 2 ,6 9 7 ; 3 C . hicago, $710,190; Minneapolis, $52t423; Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 86.—EARNINGS AND EXPENSES OF FEDERAL RESERVE BANKS DURING 1930 O EARNINGS to Total New York i Ph p il h a i d a e l-1 ! C la le n v d e- m Ri o c n h d - I Atlanta | Chicago L S ou t. is M ap in o n li e s - K C an it s y as Dallas San c is F c r o anj Discounted bills [$10, 672, 215} $595,987 $1, 910, 378!$1, 217, 736i$l, 303,852 $877,181 f$l, 087, 248,'$1, 222,081: $660, 996 $172,441! $624, 945 $441, 337 $558,033 a Purchased bills j 6,081,187 i 438,264 1,917,937! 155,563 i 538,682 281,883; 417,294\ 629,854; 285,169 228,551! 204,411 229,821 753,758 United States securities 17,273,3311! 1,201,549 5,895,425! 1,521,8251 1,505,428 408, 503 315, 2, 503, 592i 753, 034 747,4841 530,153 873,178 1, 017,171 > Deficient reserve penalties j 225,748|| 9,054 27,066 11,401 i 28,690 28,235 24,139 35, 290j 17,431 7,644 11, 383 17,844 7,571 Miscellaneous _. 2,171,563 ! 123,232 642,383 89,718 208, 550 45, 588 119, 054 443, 336 j 29, 055 78, 962 296,775 22,933 71,977 g Total earnings j 36,424,044ij 2,368,086 10,393,189 2,996, 243 i 3,585,202 1, 641, 390! 1, 963, 724 4,834,153; 1, 745, 685 1,235,082 1,667,667 1,585,113 2,408,510 ! . ._ I!. ..... I CURRENT EXPENSES o Salaries: Bank officers $2,679,838| $116,250 $545, 649j $136, 333 $222, 300 $186,529 $237,239 $320,490 $170,659 $122,0671 $193,000 $175,356 $253, 966 C Sp le e r c i i c a a l l o s f t f a i f c f ers and watchmen 11,7 9 4 21 6 , ,8 4 4 2 9 4 } ! 90 3 4 6 , , 3 8 9 1 4 2 3, 2 1IT 2 7A 5 0 , , 8a 5 4 5 A 7 n j - 9 5 0 0 3 , , 9 19 4 9 3 1, 1 0 1 2 6 0 , , 1 3 7 8 1 0 60 65 2 , , 1 6 7 6 0 6 4- 4 17 5, *^ 8 7A U 4 4 2 8 ^ 1f*O, 6 1 A 3 3 O4 2 A, , t 6 8\ 4 9 1 9 j !ZA<~i 5f\1 4 4 2T 8 , , 5 0 0 1 2 7OOO flO3A 3 3 4 8 , , 9 6 n3 7 A 9 3 C% i AC%a 64 73 2 , r, n f» 5 4 9 2A 4 8f\*7 5 4 2 7 2 , , 4 7 9 94 7 9 9 9 7 1 , , 8 6 8 8 1 1 w Allother.__ 1,906,063 94,662 505, 399' 85, 767 269, 352j 99,738 35," 273,346! 86, 790 61, 568| 167, 432 82, 579 143,914 Governors' conferences 2,427 69 541 109 43 89 i 136 609; 341 360 442 Federal reserve agents' conferences 2, 880! 119 65' 36! 90 70 115J 462 317j 163 3151 1,006 Federal Advisory Council 12, 583,1 568 678 6301 780 683 1, 228] 1, 300 1,298) 1, 3001 1 374i 1,800 Directors' meetings 155, 502; 7.734 15,077 6, 887! 7,331 8,133 11,6371 13, 061 6, 529' 29, 3381 9,956 166,55996 Traveling expenses ! . 198, 373; 7,5411 31,520 13, 901 [ 18,772 12,989 18,666, 16, 507 12,920: 10, 3481 18,180 14, 353 Assessments for Federal Reserve Board's expenses. ___ - 809, 585! 00, 570 264, 862 78,901 81, 282 33,409 398i 108, 972! 29, 230 18,504 24,405 24,137 55, 915 F Legal fees 95,701; 3, 09' 5,411 3,319 4,768 731 222| 15, 220l 903 18,432! 13,130 10,734 11,734 Insurance (other than currency and security shipments) 426,6331 29, 6741 (if), 370 34, 249 33, 674 23,862 26,0l3i 44,663! 27,197 30,7211 43,082 26, 780 40, 348 Insurance on currency and security ship- GC ments 594, 102 74,0441 122, 940 81,820 60,714 31,042 46, 241! 64,654 17, 0061 13, 916 18, 262 23, 392 40, 071 Taxes on banking house 1,374, 36811 126, 420! 407, 865 40,484 140, 763 65, 394 62, 3281 166, 941 66,135J 69, 399 97, 888 39,070 91, 681 Light, heat, and power 338, 6221 21,756 75,119 18, 758 35, 067 14, 013 16,7 31, 944 20, 792 17, 202! 40, 062 21,029 26,112 Repairs and alterations, banking house. _ 176,880; 4,211 41, 060 18,726 13, 038 1,622 12,044 12,059 9,611 6,155; 28, 256 9,860 20,238 Rent 242,132 447 1,144 92, 648 13,559 5,351 12, 385 1,500 115,098 W Office and other supplies 391,148 20,084 101, 707 34,897 35,845 18,132 20, 275 45,228 17, 758 17, 5381 24, 597 16, 720 38, 367 Printing and stationery 426,186 36,4281 81, 432 28, 208 35,873 23, 217 28, 55: 67, 093 21,829 19,447 21, 499 21,905 40, 698 O Telephone _ 210,223i 20, 0021 60,269: 27, 7791 14, 371 7,537 8,015 20, 013 13, 592 5,166 8,457 9,612 15,410 Telegraph... 499, 392; 6, 373! 52,807 13, 520 35,104 33,130! 73,700 i 41,049 42, 991 18, 032 59,124 52, 544 71, 018 Postage 1,747,151; 193, 098 306, 628 i 162, 846 152,846 111,615 93,9981 231,868' 84, 661 64,933 133,703 86, 763 124,192 w Kxpressage 475, 409j 44,0551 105,447; 63,667 36,' 35, 356! 39,591| 58,546 15, 554 12, 230 18, 667 23, 234 22, 574 Miscellaneous expenses 733,725;: 47, 200 197,023 55,117! 51,502 32, 585' 38, 367j 83, 541 33, 731 29, 342 49, 216 44,418 71,683 Total, exclusive of cost of currency.; 26,167,196J 1,855,608 6,383,78e| 1,861,172; 2,479,2681 1,421,225; 1,292,31211 33,.384,902 1,292,809; 919,937 1,698,290 1,270,109 2,307,778 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Federal reserve currency, including shipping charges: Original cost ... _,.._.,._.. 2,039,726 210,793 411,313 167,540 159,401 140, 280: 71, 057 404,177 9, 941 i 52, 685 80, 828! 66,591 175,120 Cost of redemption 135,804 11, 391 31,465 12,915 10, 828 7, 5291 9,513 16,038 6,186; 4,245 5,491! 4,4531 15,750 -I— Total current expenses j 28,342,726i 2,077,792 6,826, 564 2,041,627 2,649,497 1,569,034 j 1,372,882 3, 805,117 1,398,936! 976,867 1,784,609! 1,341,153 2,498,648 I PROFIT AND LOSS ACCOUNT Earnings $36,424, 044 $2,368,086$10, 393,189$2, 996, 243$3,585,202$1, 641, 390$1,963,724$4,834,153$1,745,685$1, 235,082$1, 667,667$1,585,113$2,408,510 Current expenses 28,342,726 2,077, 792 6,826,564 2,041, 627 2, 649,497 1, 569, 034 1,372, 882 3, 805,117 1, 398, 936 976,867 1, 784, 609 1, 341,153 2,498,648 Current net earnings 8, 081, 318 290, 294 3, 566, 625 954, 616 935, 705 72, 356 590, 842 1, 029, 036 346, 749 258, 215 —116,942 243,960 —90,138 Additions to current net earnings: > Withdrawn from reserve for prob- o able losses 402,060 200,000 36,900 159,000 6,160 W Profit on United States securities sold 2, 849,567 180,927 1, 532,178 191,736 378,163 •59, 218 35, 993 255,952 57, 523 68,139 85, 439 97, 921 106, 378 Allother,- 222, 790 6,196 115,316 952 333 2,598 1,992 5,658 6,695 66,067 8,893 3,555 4,535 Total additions 3,474,417 187,123 1,647,494 192,688 378, 496 61, 816 37,985 298, 510 64,218 293, 206 94, 332 101,476 117, 073 Deductions from current net earnings: Bank premises—depreciation 1, 905, 689 122,048 389,688 274,387 129,151 85, 829 233,681 175,332 91,982 168,188 46, 562 188,841 Furniture and equipment 541, 385 9,130 128,923 31,752 42,317 27, 781 11, 934 38, 980 18 848 14,548 5,271 25, 592 186, 309 Reserve for probable losses 409, 865 194,990 214*875 Reserve for self-insurance _ 552, 264 101,055 188, 959 12, 250 256,666 Allother 158, 350 92,462 6,069 12, 781 24, 761 6,037 517 557 798 1,302 4,907 685 7,474 Total deductions ._ 3, 567, 553 223, 640 625,735 44, 533 530, 424 162, 969 305, 520 273, 218 409, 853 357, 832 178, 366 72,839 382,624 Net deductions from current net earnings. 93,136 36, 517 2 1, 021,759 2 148,155 151, 928 101,153 267, 535 2 25, 292 345,635 64,626 84,034 2 28,637 265,551 Net earnings available for dividends, surplus, and franchise tax 7, 988,182 253, 777 4, 588, 384 1,102, 771 783, 777 —28, 797 323, 307 1, 054, 328 1,114 193, 589 —200, 976 272, 597 —355, 689 Dividends paid 10 268 598 705, 949 4, 013, 779 1, 002, 602 952, 934 353, 472 323, 307 1,211,418 315,839 184, 445 259, 397 262,510 682,946 Transferred to surplus account —2 297 724 452,172 574, 605 100,169 —169,157 —382, 269 —157,090 —314, 725 914 —460, 373 1,009—1,038,635 Franchise tax paid United States Government 17, 308 8,230 9,078 REIMBURSABLE EXPENDITURES OF FISCAL AGENCY DEPARTMENT Salaries $123,309 $7,052 $14, 274 $9,805 $15,945 $5, 023 $5, 280 $6, 665 $10, 354 $14, 572 $17, 666 $8, 034 $8, 639 Allother. . 37,777 1,790 5,884 1,978 2,097 2,878 1,962 8,875 2,163 3,482 1,789 1,551 3,328 Total-. . 161, 086 8,842 20,158 11, 783 18,042 7,901 7,242 15, 540 12, 517 18, 054 19,455 9,585 11,967 i Other than those connected with governors' and agents' conferences and of the advisory council. 2 Net addition. 0 Back figures—See Annual Reports for 1929 (Table 80), 1928 (Table 84), 1927 (Table 75), 1926 (Table 68), and 1925 (Table 67 and Pt. II, Table 5). CO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

164 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF ALL BANKS IN EACH DISTRICT No. 87.—ALL BANKS—TOTAL LOANS AND INVESTMENTS, 1923-1930 [In millions of dollars] Date i ba A n l k l s M ba b e n e m k r s - b m N a b e o n e r n r k n - s - i j ' ba A n ll ks b M a b e n a m k r s - J b m N a b e n e o m k r n 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 - 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 I 1,232 Dec. 31... 4,989 2,017 2,972 i 12,280 7,494 4,786 3,224 1,969 1,255 1924—June 30... 5,139 2,052 3,087 13,187 8,071 : 5,116 3,334 2,031 i 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 3,289 ! 14,398 8,746 ' 5,652 3,652 2,249 1,403 Dec. 31-_. 5,705 2,362 3,343 i 14,925 ' 9,297 i 5,628 3,811 2,337 1,474 1926—June 30... 5,891 2,409 3,482 i 15,364 9,308 j 6,056 3,920 2,420 ! 1,500 Dec. 31..-. 5,940 2,428 3,512 ! 15,728 9,667 j 6,061 4,034 2,478 : 1,556 1927—June 30... 6,199 2,536 3,663 ! 16,693 10,126 ; 6,567 4,115 2,531 1,584 Dec. 3U... 6,367 2,583 3,784 I 17,502 10,947 i 6,555 4,241 2,588 i 1, 653 1928—June 30... 6,644 2,642 4,002 I 18,202 11,098 I 7,104 4,365 2,656 1,709 Dec. 31... 6,649 2,571 4,078 | 18. 776 11,593 | 7,183 4,395 2,666 I 1,730 1929—June 29— 6,818 2,613 4,205 i 11,775 i 7,122 4,460 2,710 i 1,750 Dec. 31... 6,782 2,561 4,221 19,494 ! 12,316 7,178 4,395 2,687 ! 1, 708 1930—June 30. . 6,862 2,592 4,270 19, 718 ' 12,385 ! 7,333 4,420 2,713 ! 1,706 Cleveland district Richmond district Atlanta district 1923—June 30 2,735 ! 1,163 2,200 1,182 1,018 1,410 ! 920 i 490 Dec. 31 3,910 2,725 1,185 2,224 1,204 1,020 1,490 I 978 ' 512 1924—June 30 4,050 2,827 1,223 2,237 1,193 1,044 1,454 j 934 i 520 Dec. 31 4,158 2,915 1,243 2,273 1,220 1,053 1,531 I 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 i 1,158 629 1927—June 30 | 4,635 3,267 1,368 2,423 1,311 1,112 1,720 | 1,141 585 Dec. 31 —I 4,""" 3,296 1,393 2,517 |i 1,362 1,155 1,754 ' 1.165 : 589 1928—June 30. 4,898 i 3,448 1,450 2,531 11 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 I 1,188 560 1929—June 29.. 4,927 ! 3,488 ; 1,439 2,501 j| 1,329 1,172 1,734 I 1,177 i 558 Dec. 31. 4,869 3,455 1,414 2,435 j 1,278 1,157 1, 629 i 1,115 ! 514 1930—June 30. 4,840 3,479 1,361 2,398 || 1,204 1,194 1,528 ! 1,059 I 469 Chicago district iis disirict Minneapolis district 1923—June 30- 6,174 2,268 1,883 ; 1,155 728 1,665 ii 896 I 769 Dec. 31- 6,190 2,291 1,907 1,182 725 1,604 '< 741 1924—June 30. 6,324 2,314 1,878 1,157 721 1,487 : 824 i 663 Dec. 31.. 6,562 2,352 1,937: 1,223 714 1,564 907 357 1925—June 30. 6,834 2,464 1,984 > 1,228 756 1,571 583 Dec. 31- 2,520 2,067 1,310 757 1,567 : 674 1926—June 30. 7,186 2,607 2,086 1,320 766 1,549 !; 881 i 668 Dec. 31.. 7,174 2,631 2,059 1,313 746 1,495 \' 862 ! 633 1927—June 30. 7,407 2,695 2,096 i 1,337 759 i,485j; 851 634 Dec. 31- 7,495 2, 636 2,128 ! 1,377 752 1,527 897 '. 630 1928—June 30. 7,826 2,709 2,141 ! 1,384 756 1,549 ; 909 640 Dec. 31.. 7,904 2,741 2,163 i 1,406 757 1,555 ! 933 ! 622 1929—June 29.. 7,958 2,906 2,099 1,341 757 1,539 ! 923 i 616 Dec. 31. 7,740 2,806 2,072 1,337 736 1,507 | 911 ; 597 1930—June 30- 7,655 2,721 2,013 1,289 724 1,455 ! 870 585 Kansas City district Dallas district San Francisco district 1923—June 30—. 735 953 745 208 3,296 2,331 965 Dec. 31.. 729 1,016 810 206 3,342 i 2,248 1,094 1924—June 30. 699 962 732 230 3,389 2,296 1,093 Dec. 31. 702 1,016 789 227 3,546 2,444 1,102 1925—June 30. 708 1,015 791 224 3,693 2,545 | 1,148 Dec. 31- - I 1,847 716 1,069 831 238 3,872 2,669 1,203 1926—June 30 691 1,044 808 236 3,937 2,688 1,249 Dec. 31 692 1,029 807 222 4,068 | 2,842 1,226 1927—June 30 678 1,064 831 233 4,077 j 2,961 1,116 Dec. 31 677 1,136 898 238 4,227 | 3,084 1,143 1928—June 30. 669 1,163 916 248 4,300 ! 3,149 1,151 Dec. 31 679 1,247 993 254 4,523 3,169 1,354 1929—June 29. 640 1,217 957 260 4,443 3,105 1,338 Dec. 31 630 1,179 936 243 4,472 ! 3,192 1,279 1930—June 30 1,105 870 235 4,375 3,109 1, 265 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 Digitized focr oFmRpAanSieEs,R m utual and stock savings banks, and private banks under State supervision. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

165 ALL BANKS IN EACH DISTRICT No. 88.—ALL BANKS—TOTAL LOANS, 1923-1930 [Iii millions of dollars] Date i 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 r ks - 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 - Boston district New York district Philadelphia district 1923—June 30. 3,064 1,444 1,620 5,017 1,806 1,174 632 Dec. 31- 3,115 1,440 1,675 5,066 1,879 1,190 1924—June 30.. 3,220 1,443 1,777 5,404 1,939 1,240 Dec. 31.. 3,333 1,504 1,829 5,720 2,037 1,283 754 i925—June 30.. 3,530 1,602 1,928 5,848 2,158 1,381 777 Dec. 31.. 3,682 1,692 1,990 6,511 2,364 1,485 879 1926—June 30.. 3,779 1,690 2,089 6,399 2,434 1,574 860 Dec. 31.. 3,817 1,708 2,109 6,861 2,547 1,616 931 1927—June 30.. 3,930 1,744 2,186 7,026 2,504 1,604 900 Dec. 31.. 4,021 1,765 2,256 7,789 2,592 1,616 976 1928—June 30.. 4,226 1,849 2,377 7,759 2,636 1,690 946 Dec. 31.. 4,271 1,824 2,446 8,404 2,747 1,745 1,002 1929—June 29.. 4,434 1,871 2,563 2,859 1,832 1,027 Dec. 31. 4,508 1,910 2,598 2,859 1,859 1,000 1930—June 30. 4,440 1,836 2,604 2,807 1,829 977 Cleveland district Richmond district Atlanta district 1923—June 30.. 2,594 i 1,838 756 1, 675 S 923 752 1,165 737 428 Dec. 31.. 2,621 | 1,842 779 1, 713 i 948 765 1,240 794 446 1924—June 30.. 2,680 | 1,877 803 1,740 I 952 788 1,221 764 457 Dec. 3L. 2,722 ! 1,898 826 1,745 i 957 788 1,281 813 468 1925—June 30.. 2,874 : 2,011 863 1,803 | 990 813 1,412 877 535 Dec. 31.. 2,060 899 1, 863 I 1,030 833 1,647 995 652 1926—June 30.. 3,037 2,135 902 1,865 1,016 849 1,518 939 579 Dec. 3L. 3,067 2,144 923 1, 865 1,011 854 1,458 927 531 1927—June 30.. 3,098 2,179 919 1,841 1,014 S27 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 ! 1,021 861 i 1,378 910 468 Dec. 31.. 3,279 2,291 988 1,879 ! 1,022 857 ' 1,346 895 451 1929—June 29.. 3,380 2,376 1,004 1,865 1,010 855 1,345 898 447 Dec. 31 . 3,413 2,410 1,004 1,813 ! 974 838 1,262 855 408 1930—June 30. 3,272 2,336 937 1,730 I 841 1,166 791 375 Chicago district St. Louis district Minneapolis district 1923—June 30.. 4,764 2,880 1,885 1,428 ! 819 ' 609 1,333 691 642 Dec. 31.. 4,798 2,870 1,928 1,463 i 853 610 1,265 656 1924—June 30.. 4,876 2,951 1,925 1,455 843 612 1,150 611 Dec. 31.. 4,935 3,031 1,904 1,475 i 8S4 j 591 1,139 630 508 1925—June 30.. 5,173 3,181 1,992 1,494 ! 877 i 617 1,106 597 ! 509 Dec. 31.. 5,319 3,276 2,043 1,563 i 950 613 1,078 586 ! 492 1926—June 30.. 5,452 3,374 2,077 1,575 : 952 623 1,039 I 568 ! 471 Dec. 31.. 5,497 3,388 2,109 1,541 946 j 595 995 554 I 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 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 1929—June 29.. 6,046 3,792 2,254 1,531 i 937 594 945 559 ! 387 Dec. 31. 5,953 3,770 2,183 1,526 ! 955 i 571 936 563 I 373 1930—June 30. 5,764 3,682 2,081 1,485 : 910 I 575 874 ! 516 358 Kansas City district Dallas district San Francisco district 1923—June 30.. 1,547 661 792 601 191 2,431 1 1,740 691 Dec. 31- 1,496 849 647 I 830 649 181 i 2,478 I 1,686 i 792 1924—June 30.. 1,423 800 623 801 597 204 i 2,527 I 1,722 I 805 Dec. 31- 1,421 801 620 ! 846 645 201 j 2,567 1,767 i 800 1925—June 30.. 1,429 805 624 I 837 638 199 I 2,692 1,848 I 844 Dec. 31.. 1,432 805 627 875 668 207 ! 2,821 1,937 I 884 1926—June 30.. 1,418 812 606 | 855 650 205 : 2,877 1,952 I 925 Dec. 31.. 1,374 777 597 ! 841 652 189 I 2,962 2, 067 895 1927—Juno 30.. 1,355 776 579 i 853 654 199 ; 2,949 2,134 ! 815 Dec. 31.. 1,353 783 570 i 891 694 197 |2, 959 2,141 ; 818 1928—June 30.. 1,336 547 895 692 i 203 | 2,977 2,144 I 833 Dec. 31.. 1,332 530 ! 938 736 ! 201 ;3,107 2,109 ! 998 1929—June 29.. 1,310 810 499 ! 914 705 I 209 ! 3,082 2,099 i 983 Dec. 31 . 1,293 804 489 907 714 | 193 i 3,177 2,239 I 938 1930—June 30. 1,209 750 459 ! 842 653 I 189 I 3,021 2,109 I 912 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

166 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 89.—ALL BANKS—TOTAL INVESTMENTS, 1923-1930 [In millions of dollars] Non- I Date ! ba A n l k l s ! i b M a b e n e m k r s - b m a b e n e m r k s - b A an ll ks Boston district New York district 1923—June 30 _ 1,884 588 1,296 4,458 2,480 1,978 1,389 I 789 800 Dec. 31 1,874 577 1.297 4,399 2,428 1,971 1,345 ! 779 566 1924—June 30 1,920 610 1,310 4,695 2,667 2,028 1,395 | 791 604 Dec. 31 1,952 630 1.322 j 5,084 2,946 2,138 1,469 ! 880 589 1925—June 30 1,993 632 1,361 i 5,041 2,898 2,143 1,494 868 626 Dec. 31. 2,023 670 1.353 I 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 -I 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 s 5, 336 3,158 2, 178 1, 650 972 678 1928—June 30. 2,418 793 1,626 i 5,598 3,340 2,258 1,729 966 763 Dec. 31 2,378 747 1,632 I 5,341 3,189 2,152 1,649 921 728 1929—June 29 2,384 742 1,642 I 5,097 3,006 2,091 1,601 878 723 Dec. 31 ! 2,273 650 1,623 ! 5,243 3,220 2,023 1,535 828 708 1930—June 30 j 2.422 756 1. 666 '. 5,709 3,472 2,237 1,613 884 729 Cleveland district Richmond district Atlanta district 1923—June 30 ! 1,304 897 407 525 259 i 266 i 244 | 182 62 Dec. 31.... | 1,290 884 406 512 257 i 255 ! 251 185 66 1924—June 30 ! 1,370 950 420 240 256 | 233 170 63 Dec. 31 1.436 1,019 417 528 11 263 ! 265 i 250 182 68 1925—June 30 1,436 1,010 426 530 i! 262 ; 268 | 284 204 I 80 Dec. 31 1,399 985 414 529 ii 260 ! 269 ! 347 247 I 100 1926—June 30 1,449 1,025 424 ! 536 i| 265 I 271 I 331 233 ! Dec.31 1,414 689 425 ; 530 ;j 264 ; 266 ! 329 231 ! 1927—June 30 1, 538 1,089 449 J 582 I! 297 ! 285 I 353 256 I 97 Dec. 31 I 1,588 1. 135 454 ! 646 ;! 334 ! 312 ! 384 276 I 108 1928—June 30 j 1,660 1,182 479 ! 650 ii 324 ! 326 ! 375 |! 263 I 112 Dec. 31 I 1,575 1,123 452 643 ii 317 ! 326 i 402 | 293 i 109 1929—June 29 ! 1, 547 1,112 435 636 i 319 i 317 i 389 I] 279 110 Dec. 31 ! 1,456 1,046 410 622 !' 303 : 319 ! 366 11 260 I 106 1930—June 30 I 1, 568 1, 144 425 316 ! 353 i 362 II 268 ! 93 Chicago district St. Louis district Minneapolis district 1923—June 30.... 1,4409 I 1,026 383 455 336 ! 119 333 206 127 Dec. 31 1,2391 ; 1,028 363 444 329 ' 115 340 208 132 1924—June 30 ___| 1,4448 ! 1,059 389 423 314 ! 109 337 213 124 Dec. 31.. 627 ! 1,179 448 462 339 123 424 276 148 1925—June 30.. 661 I 1,189 472 489 350 i 139 465 291 174 Dec. 31. 679 ! 1,202 477 503 359 ! 144 489 307 182 1926—June 30 I 1,735 ! 1,205 530 511 368 ! 143 509 313 197 -D ec. 3-1 • 676 j 1,154 522 517 366 i 151 499 308 192 1927—June 30. 832 ] 1,251 581 558 406 i 152 528 320 209 Dec. 31. 911 j 1,339 572 583 423 159 571 350 222 1928—June 30. 016 ! 1,420 596 605 442 ! 163 601 365 237 Dec. 31. 71 !i 1,350 620 617 452 ! 166 605 373 232 1929—June 29. 912 i 1,260 652 568 405 163 594 364 230 Dec. 31. 1,164 623 546 381 I 165 572 348 224 1930-June 30. 1,251 640 528 379 ; 149 582 354 227 Kansas City district 1923—June 30. 333 259 592 Dec. 31. 329i 247 562 ! 1924—June 30. 314 238 863 575 Dec. 31. 361 278 979 677 | 302 1925—June 30. 394 310 1,001 697 304 Dec. 31. 416 327 1,051 732 319 1926—June 30. 430 345 1,060 736 324 Dec. 31. 454 359 1,107 776 331 1927—June 30. 476 i 377 1,128 827 301 Dec. 31. 515 408 1,267 943 325 1928—June 30. 557 i 436 1, 1,005 318 Dec. 31. 596 447 1,416 1,060 356 1929—June 29. 571 430 1,361 1,007 355 Dec. 31. 549 408 1,295 953 342 1930—June 30. 531 401 1,353 1,001 353 1 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 Digitized focro FmRpaAnSieEs, Rm utual and stock savings banks, and private banks under State supervision. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

167 ALL BANKS IN EACH DISTRICT No. 90.—ALL BANKS—DEPOSITS (EXCLUSIVE OF INTERBANK DEPOSITS), 1923-1930 [In millions of dollars] Date i ba A n l k l s M ba b e n e m k r s - | J m N ba e o n m n k - b s eri ba A n l k l s ! M b b a e e n m r ks - m b N e a m o n n k b - s e r ! ; j ba A n l k l s ! I I b M b a e n e r m ks - m b N e a m o n n k b - s er Boston district New York district Philadelphia district 1923—June 30 4,581 1, 830 2, 751 11,415 6,800 4,615 1,657 1,119 Dec. 31 4,688 1,880 2,808 11,986 7,433 4,553 1,727 1,171 1924—June 30.._ 4.868 ; 1,9392,929 12,997 7,952 5,045 1,757 1,214 Dec. 31 5, 033 2. 051 2, 982 13,564 8,817 4,747 1,894 1,272 1925—June 30 5,220 2,114 3,108 14,362 8,866 5,496 1,960 1,319 Dec.31 5,402 2, 245 3,157 14,414 9,469 4,945 2, 077 1,374 1926—June 30 5,580 2,297 3,283 15, 000 9,206 5,794 2,094 1,385 Dec. 31 5, 594 2,286 3,308 15,168 9,701 5,467 2,166 1,436 1927—June 30 5,811 2, 359 3,452 16,264 10, 002 6,262 2,187 1,459 Dec. 31 6.009 2,444 3, 565 16,312 10,021 6,291 2,243 1,543 1928—June 30. 6,106 ; 2,351 3,755 16,614 9, 982 6,632 2,232 1,532 Dec. 31 6,225 2, 397 3,828 18,915 12,140 6,776 2,287 1,587 1929—June 29 6,209 i 2,297 3,912 17, 028 10,351 6,677 2,251 1,509 Dec. 31 6.298 1 2,391 3,907 18,490 !11,810 6,679 2,265 1,480 1930-June30 6, 351 2.355 3,996 18,809 11,981 6,829 2,301 1,476 Cleveland district Richmond district Atlanta district 1923—June 30. 3,596 2,447 1,149 1,927 988 939 1,305 818 I 487 Dec. 31. 3,662 2,494 1,168 2,041 1,044 997 1,411 880 i 531 1924—June 30 3,809 2,605 1,204 1,982 1,018 964 1,365 j 852 | 513 Dec. 31. 3,855 2, 637 1,218 2,103 1,092 1,011 1,553 ! 953 1 600 1925—June 30 4,043 2,782 1,261 2,0S3 1,090 993 1,704 i 1,027 677 Dec. 31. 4,079 2,805 1,274 2,217 1,157 1,060 2,107 i 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 1,092 i 1927—June 30. 4,332 3,035 1,297 2,244 1,193 1,051 1,074 j 1,066 Dec. 31. 4,355 3,029 1, 3i!6 2,378 1, 242 1,136 1,736 I 1,104 632 1928—June 30. 4,498 3,139 1,359 2,284 1,188 1,096 1, 640 j 1,072 568 Dec. 31. 4,526 3,165 1,361 2,351 1,214 1,137 1,673 1,093 580 1929—June 29. 4, 523 3,190 1,333 2,255 1,166 1,089 | 1,581 1,041 540 Dec. 31. 4,452 3,154 1,298 2,271 1,152 1,119 | 1,548 1,020 527 1930—June 30 4, 439 3,182 1,257 2,231 1,105 1.125 1,441 994 447 Chicago district St. Louis district Minneapolis district 1923—June 30.... 5,870 3,570 2,300 1,727 980 747 1,570 816 754 Dec. 31— 5,953 3,620 2,333 1,737 1,016 721 1,538 807 731 1924—June 30. _. 6,121 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 1,097 807 1,602 871 731 Dec. 31..-. 6.858 4,288 2,570 2,031 1,182 849 1,622 880 742 1926—June 30... 7,009 4,344 2,665 1,985 1,171 814 1,576 861 715 Dec. 31-... 6,972 ! 4,318 2,654 1,965 1,186 779 1,526 847 679 1927—June 30. _. 7,171 1 4,465 2,705 1,976 1,187 789 1,507 842 665 Dec. 31.... 7,327 i 4,649 2,679 2,053 1,250 803 1, 560 886 674 1928—June 30... 7,517 4,806 2,712 2,002 1,215 787 1,567 895 673 Dec. 31.... 7,667 4,914 2,752 2,045 1,256 788 1,596 929 666 1929—June 29... 7, 543 4,721 2,822 1,911 1,177 733 1,547 904 642 Dec. 31—. 7,381 4,617 2,764 1,962 1,213 750 1,519 892 626 1930—June 30... 7,287 4,615 2,672 1,879 1,172 706 1,482 876 606 | Kansas City district Dallas district San Francisco district 1923—June 30 | 1,814 851 645 206 ! 3,253 2,272 ! 981 Dec. 31- 1,059 779 280! 3,424 2,292 1,132 1924—June 30. 917 676 241 3,441 2,315 : 1,126 Dec. 31.. 1,075 795 280 | 3,667 2,511 1,156 1925—June 30. 1,006 764 242 i 3,747 2,568 1,179 Dec. 31.. 1,099 822 277 | 3,994 2,744 ! 1,250 1926—June 30. 1,008 761 247 I 3,973 2,716 ! 1,257 Dec. 31 ..J 1,924 1,053 800 253 | 4,116 2,883 1.233 1927—June 30 1,916 1,049 800 249 ! 4,073 2,974 ! 1,099 Dec. 31. 1,957 1,182 897 285 | 4,253 3,114 1,139 1928—June 30. 1,962 1,146 885 261 ! 4,297 3,160 1,137 Dec. 31. 2,028 1,290 989 301 I 4,576 3,200 ! 1,376 1929—June 29 _1,,_9_29_ 1,177 911 266 i 4,391 3,068 ! 1,323 Dec. 31 ! 1,909 1,186 913 272 ! 4,529 3,247 I 1, 282 1930—June 30 i 1,841 1,108 867 241 !, 4, 310 ! 3,056 ! 1,254 3 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 FRAS3E3R4 54—31- -12 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

168 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF ALL BANKS, BY STATES No. 91.—ALL BANKS—TOTAL LOANS AND INVESTMENTS, BY STATES, 1925-1930 [In millions of dollars] 1925 1926 1927 1928 1929 1930 State Dec. 31 June 30 Dec. 31 \ June 30 Dec. 31June 30 Dec. 31! June 291 Dec. 31 June 30 New England: Maine ! 371.8 389.2 394.6! 410.0 411.5 428.2 427.3| 437.0 432.51 434.8 New Hampshire.! 258.5 269.9 270.41 282.5] 283.6 301.0 302. 8! 312.5! 311.3 299.5 Vermont 219.8 227.2 227.9| 235.51 239.3 251.1 254. 01 256.6; 250.1 245.6 Massachusetts.. 3,569.3 3,683.9 3,699.7| 3,862.9 3,959.9 4,137.8 4,125.1! 4,256.8! 4,224.7 4,296.0 Rhode Island.-. 468.5 479.1 495.0; 513.51 525.1 537.4 537.2 533.6! 533.1 539.6 Connecticut ! 1,052.9 1,088.7 1,101.0' 1,159.1 1,224.6 1,282.1 1,302.5 1,334.4 1,336.3 1,355.0 Middle Atlantic: i ! New York 113,086,113,437. 5 13, 711. 6! 14, 581.115, 290. 4 15,880. 7 16,438. 0 16, 563. 217,222.117,422.3 New Jersey 1,979.8 2,073.1 2,175.5! 2,255.4 2,351.5 2,451.9 2,463.2! 2,449.5! 2,388.3 2,404.9 Pennsylvar ia.. J 5,052. 5 5,181.4 5,284.1! 5.406.5 5,557.2 5, 742.6 5,742.0, 5,794.6| 5,703.2 5,779.3 East North Central: I Ohio ! 2,379.1 2, 466.0 2.451.9! 2,552.1 2,562.6 2,684. 5 2,662.8J 2, 715.1 j 2,691.5 2,628.6 Indiana., 832.1 869.3 868. 7 880.9 875. 9 890.2 897. 3 i.3! 8.. 62.9, 810.7 Illinois I 3,444.1 3, 515.1 3,516.9! 3,657.2 3,710.4 3,885.5 3,918.3 3,918.5! 3,802.3 3,814.0 Michigan ! 1,659.3 1, 736. 2 1,761.0] 1,835.2 1,860.9 1,986.1 2,019. 5i 2,070.0! 2,020.6| 1,982.1 Wisconsin, '• 834.9 874.7| 876.3; 904.9 905.9 938.5 943. l! 953.0! 917.1 906.7 West North Central:! Minnesota ! 940.1 923.1 902. 6: 896.1 922.4 926. 915.3J 915.71 901.41 877.3 Iowa 856.6 836.4 791. lj 783. 3 786. 8 788.0 791. 4! 797.31 781.6! 756.3 Missouri.... ! 1,272.3* 1, 254. 3 1,237.7! 1,242.3 1,269.8 1, 267.0 1, 276.0 1,175.8| 1,199.3 1,183.0 North Dakota... 154.6! 148.0 135. 0 129.1 128.0 125.3 124.7 114.7J 111.6 101.5 South Dakota... 146. 91 144.5 123. 0 120.3 126.8 132.0 136.7 136.1! 137.5 131.2 Nebraska... \ 430.8' 419.1 412. 7i 404. 6 411.0 399.6 408.1 385.41 359.3! 333.6 Kansas | 409.1 408.4 404. 5; 400. 7 400.6 407.1 417.41 412.9 404.4| 376.5 South Atlantic: l Delaware- i 114.8 119. Oj 123.8 131.6 136. 3| 144.0 149. 5! 167.9 167.4! 166.3 M Di a s r t y ri l c a t n d o f Co- ! j 745.5 ! 749. 9| 769. 8: 788. 5! 837. 6| 820.4 834. 51 845. 1 837.4 846.7 lumbia I 230.8; 232. 2j 232. 8 241.5 236. 5 254.5 253. lj 256.0 244.5 242.8 Virginia | 536.9: 532. 5! 531. 3 536.5 560.0 562.7 563. 61 554.3 551.4 540.5 West Virginia...J 366.3 366.2 364. 0 365.4 364. 5 363.8 360.7 357. 345.1 333.5 North Carolina.! 383.9 397.4 392.9 387.8 408. 0 416.2 408. 21 390.4 369.51 354.1 South Care Una.. 205.7 201.1 181. 6: 180.8 190.2 195.9 184. 51 181.0 168.61 159.6 Georgia 367. Si 374. 2; 346. 2 352.2 360. 6 371. 6| 355. 71 352. 4 334.4 328.6 Florida..- 652.1 501. 7' 460. 6 401.9 376. 6| 357.91 334.9! 311.5 258.3 213.5 East South Central: I I I Kentucky i 453.4 461. % 465. 2 504. 4 514. 0| 533. 7i 546. 61 560.3 554.2 528.6 Tennessee. 390.61 391. 3! 393. 7 383.3 400. 5! 407. 6! 413.0; 432. Oj 429.8 429.5 Alabama 261.9 269. 2, 267. 3: 272.0 289. 71 301.7! 312.ll 30B.9 282.4! 262.2 Mississippi 207. 3i 217. 0| 206. 0 212.6 225.11 223. 7| 220. 21 222.3 212.4 210.8 West South Central: Arkansas... I 207.91 213. 8| 198. 6 198.8 199.4 204. 7! 202.4J 208.2 197.5 194.1 Louisiana.. \ 422.3i 405. 6! 417. 4! 397.4 413.1 402.0! 429.41 426.9 429.2 396.1 Oklahoma 348. 7i 367. 7! 356. 1 370.7 379. 6 395. 2| 404. 8 409.9 400.5 380.8 Texas 935. 5j 920. l! 904. 6: 942.8 1, 008. 0 1,032. 2! 1,105. 8| 1, 071. C 1,036.4 966.5 Mountain: Montana... 122.4 123. 9^ 129. 3^ 130.2 140.9 147. 6! 158. 9i 150.6 144.1 134.8 Idaho I 73.6 73. 3 76.7: 73. 78.3 79.0 82. 2| 77.2 80.7 76.1 Wyoming __| 51.4! 50.3 52. 4! 51. 54.6 55.3 59.7| 58.5 57.6! 54.8 Colorado I 258. 7! 256. 6| 262. 4 256.1 264.2 266.1 272. 6 265.4 262.3 241.5 New Mexico | 26. 8j 29.0 31.0 31.8 35.4! 37.5 41.01 40.7 40.6! 39.9 Arizona ! 56.7; 57.6 58.3; 61. 9| 66. 41 75. 4 81.3! 84.9 81.2! 75.3 Utah i 137. 5i 135. 5; 143. 4; 140. 8| 152.2', 152. 3 160. 2 158.0 161.7| 159.3 Nevada... 34. Oj 34.8 35. 2, 3o.7| 35.9 37.7 38.9! 40.5 38. Oi 36.9 Pacific: ! Washington 388. fii 398. 4 401. l! 406.6 423.1 439.8 448. 6j 447.3 459.8 455.1 Oregon 249. 5| 253. 1 254. 0: 253. 0 260. 262.2; 263.1; 260. 0 260.5| 249.4 California.. 2,953.2! 3,004.2 3,121.3; 3,128.2| 3,234.9 3,281.1 3,478.2 3,407.' 3,420.01 3,352.7 Back figures. —See Annual Report for 1927 (Table 81). NOTE.—For classes of banks included see note to Tables 87-90. 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

169 ALL BANKS, BY STATES No. 93.—ALL BANKS—TOTAL LOANS, BY STATES, 1925-1930 [In millions of dollars] 1925 1928 1927 1928 1929 1930 | Dec. 311 June 30 Dec. 31 j June 301 Dec. 31 June 30 j Dec. 31 June 29 | Dec. 311 June30 United States 35, G40.0|36,157.4|36,758.8J 37,36O.o| 38,407.1;39,464. l[40,762.7;41,511.8J41,898.4 40,618.1 New England: ! Maine ! 179.8: 183.8| 187.6! 19fi. 2 194.5 209.8! 214.0 230.3! 230.6| 231.5 New Hampshire ! 127.9| 131.1 131.5| 140.0! 140.0 147.7! 149.3i 157.7! 157.5 150.8 Vermont I 148.4; 152.4 151.4| 155. 0i 151.6 156.1 158.8! 162.1 158.4 155.2 Massachusetts-.! 2,501.7i 2,560. 6| 2, 581.2 2,637.3! 2,691.0 2,831.8 2,844.7! 2,947.5 3,007.5 2,954.8 Rhode Island...i 246.7 258.81 265.8 274. 3! 276.5 285.1 290.0i 308.6 310.7 303.9 Connecticut ! 595.5 615.5 620.1 658.1 702.5 738.6; 764.4| 794.8 806.9 803.7 Middle Atlantic: j I New York I 8,942.6| 9,146.1 9, 549. 2 10,081.0!l0, 787. 7 11,148.6111,931.6|l2, 281.7 12,754.7 12,570.8 New Jersey 1,232.9| 1,315.6 -1I , 4A1-\2e\. 8Q1| I1 ,4AD6A4 .o8l! •1», 5K3O5K. 8O 11, 6ai0X7l .4A! \ 11, 6fi5K0rt .11 11, 6U5K4A. 2O 11, 6C3O3O. 71 11, 5K6C6a.5 K Pennsylvania... 2,994.2! 3,068.9 3,193.8! 3,136.41 3.206.7 3,309.6| 3,433. l| 3, 568. 2 3,574.7 3,483.8 East North Central: j Ohio I 1,804.9! 1,857.6 1,857.5 1,895.8] 1,906.2 1,968.8! 1,985.6 2,030.2 2,057.4 1,981.6 Indiana | 641.0| 676.1 676.2 673.8 i 658.7 662.5i 664.5 670.5 648.5 605.3 Illinois I 2,560.1 2,606.8 2, 651.4 2,694.2! 2,714.3 2,831.8! 2,902.8 2, 951. 6 2,888.1 2,822.1 Michigan : 1,177.3 1,248.0 1,279.71. _1.,,3_2_8 .41 1,, 330.7 1,424.3i 1,455.7 1,515.1 1,514.1 1,452.9 Wisconsin ; 606. li 625.8 625.2| 633.4 618.31 642.8^ 657.3| 676.3 654.7 631.3 West North Central: Minnesota J 622.4 i 589.9 580.3 j 546. 6 549.9! 539.0; 538.3 541. 5! 505.8 Iowa : 761.8! 733. 695.51 676. 0 678. 2| 670.4i 670.8! 668. 4| 646.0 Missouri ; 949.21 921.4 906. 5] 891.1 902. 9 885. 4i 881.4! 835. li 850.1 North Dakota. _ 114. 51 113.0 103.0 99.9 93.3 91. li 88.6! 83.2! 72.8 South Dakota... 123. l! 114.7 94.31 91.0 93.3' 94.3! 95.8; 95.4! 91.6 Nebraska ! 371.7! 360.5 351.0! 338. 7 335.3 308. 3! 312.9 291. 8; 241.5 Kansas ! 328.8| 331.6 318.4! 311.5 303.0 298.4; 298.3! 295. 61 276.9 South Atlantic: Delaware j 67.6, 69.5 73.2! 78.4 83.2 92.6! 98.2 119.3 114.6 Maryland ! 462.31 465.3 488.6; 476.4 493. 0 484. 4i 502.6| 515.9! 495.8 District of Co- ! lumbia I 169.8 j 171.3 174.41 181.8 176.7 190.4 190.8 194. 31 176.7 Virginia ! 465.6' 457. 9 455, 9| 457. 2 469.8 467.6! 466.8 453. 1! 438.1 West Virginia...! 309.2j 305.5 306. 51 299. 9 299.9 294.91 294.4 288. 61 263.8 North Carolina.! 348.2' 357.2 353.0! 342.4; 348. 6 358. 9i 349.4 335. 5' 298.9 South Carolina..! 170.5! 169.71 148.5J 144.1| 144.4 147. 6j 138.8| 138. 9 117.0 Georgia | 324.5! 326. 61 298.8! 297.8! 295.3 312.81 287.9 295. 8! 266.5 Florida. 509.81 379.8| 343.31 278.4 252.0 235. 5| 213.0 190.1: 109.0 East South Central: i Kentucky ; 364.11 371. lj 371.8j 392. 2| 395. 5 404.4i 416.5 434. 6: 414.6 Tennessee j 344. li 344.2 345.6 334. 2! 344.7 343. 8 348.31 356.8; 354.6 Alabama i 213.41 223.5 219.2 221.7 231. 7 243.7i 251.2! 249. 4! 210.8 Mississippi 163.4| 173.3 160.91 163.1 172.3 172. 2j 166.8| 170.1! 161.9 West South Central: | Arkansas. 182.2 186. 91 173.8J 170.5 166. 7 167.6; 160.2\ 164. 4^ 157.4 Louisiana 360.6 341.4! 354.0 331.4 336.1 330. 6l 340. li 345.7: 319.2 Oklahoma 244.9 255. 71 245.4 246. 0 255.1! 255.4| 262. 2! 247.0 Texas I 766.5| 754.1! 740. 5; 756. 2 793. 4 793.61 831.4| 803. 4| 739.0 Mountain: : | Montana 78.3! 80.6 81. 3| 83.8| 88.1 94.5! 100.1J 94.2 87.7! 79.9 Idaho 50.6 49.4 49.81 47.8 48.6 48.0i 49.5 48.5 50.0! 47.1 Wyoming 38.7 37.4 38.11 37.4; 38.4 39. Ol 40.3 40.3: 40.0! 39.3 Colorado..- 169. 4! 162. 9 166.11 159.4! 164.3: 165.8i 173.6 171.4! 173.5i 153.0 New Mexico 19.5; 20.4 20.7! 20.3 i 22.8 23.8! 26.2 25.9! 25.7j 24.8 Arizona 43.2j 42.9 40. 2| 42. 51 44.2 51.2 51.8! 54.3i 49.9' 46.5 Utah 108.91 106.5 111.5J 122.5 119.4 123.5i 122. 0 126.01 121.4 Nevada 26.9! 27.1 27! 5| 27.9! 27.8 28. 71 29.8! 30.8! 29.2! 28.2 Pacific: j Washington 257. el 264.51 260. 0 261.1 262. 5 275.81 278 5 286.3 303.6! 296.7 Oregon.. 163.9 168.0! 162. 4 160.9 149. 6 147.61 145. 7 145.4! 148.01 140.4 California j 2,185.6 2,232.5 2,321.7 2,312. 7 2, 318. 6 2, 322. 6 2, 444 1 U13.61 2,487.1 2,356.9 JBocA figures.—See Annual Report for 1927 (Table 82). NOTE,—For classes of banks included see note to Tables 87-90. 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

170 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 93.—ALL BANKS—INVESTMENTS, BY STATES, 1925-1930 fin millions of dollars] 1925 1926 1927 1928 : 1929 1930 Stale Dec. 31June 30 Dec. 31 June 30 Dec. 31June 30 Dec. 31 iJune 29 \Dec. 31June 30 14,963.315 404.515,259.5 16,390.7: 17,043.417,801.217, 503. 7 16, 962. 2 16, 518.617,493. 2 New England: Maine 192.0 205.4 207.0 213. 8 217.0 218. b 213. 3; 206. 7^ 201.9 203.3 New Hampshire; 130.6 138.8 138.9 142.5 143.6 153.2 153. 5 154. 8' 153.9 148.7 Vermont 71.4 74.8 76.5 80.5 87.7 95.0 95.2 94.6! 91.6 90.4 Massachusetts.. 1,067.6 1 123.3 1,118.5 1, 225. 6 1,268.9 1, 305. 9 1, 280. 4 1,309. 3! 1, 217.2 1,341.2 Rhode Island-.-! 221.8 220.3 229.2 239. 2 248.6 252.3 247. 2 226. 9! 222.4 235.7 Connecticut 457.4 473.2 480.9 501.0 522.1 543.5 538. 2: 539. 5! 529.4 551.3 Middle Atlantic: New York......_i 4,143. 5 4 291.4 4,162. 4 4,500.1 4,502. 7 4, 732.1 4, 506.4^ 4, 281. 4i4, 467. 5 4,851. 5 New Jersey...__ 746.9 757.5 762.7 790. 6 815.7 844.5 813.1! 795.3! 754.7 838.4 Pennsylvania.._ 2,058. 3 2 112.5 2,090. 3 2,270.1 2,350. 5 2,433.0 2, 308. 9!2, 226. 4!2,128.5 2, 295. 6 East North Central: Ohio 574.2 608.4 594.4 656.3; 656.4 715.7 677. 2 684. 9! 634.1 647.0 Indiana 191.1 193.2 192.5 207.1! 217.2 227.7 232.8 225.8 214.4 205.3 Illinois 884.0 908.3 865.5 963. o; 996.1 1,053. 7 1,015.5! 967. 0; 914.1 991.9 Michigan . 481.9 488.2 481.3 506. 9 530.2 561.9 563.8i 554.9; 506.5 529.1 Wisconsin 228.8 248.9 251.1 271. 5 287.6 295.8 285. 9' 276. 7j 262.4 275. 4 West North Central: Minnesota 317.7 333. 2 322.3 349.5 372.5 387.7 377.0i 374. 2i 355.8 371.5 Iowa 94.8 102.5 95.6 107.3 108.6 117.6 120. 6| 128. 9; 119.2 110.3 Missouri 323.1 332.9 331.2 351. 2 366.9 381.5 394.6! 340. 6i 331.2 332.9 North Dakota... 40.1; 35.0 32.0 29.2; 34.7 34.2 36.1! 31.5 32.6 28.7 South Dakota—. 23.8! 29.8 28.7 29.3 33.5 37.7 40.9! 40. 8i 41.1 39.6 Nebraska 59.1 58.6 61.7 65.9 75.7 91.3 95.1| 93.6 87.2 92.1 Kansas 80.3 76.8 86.1 89.2 97.6 108.7 119. i; 117.3 111.8 99.6 South Atlantic: Delaware 47.2: 49.5 50.6 53.2 53.1 51.4 51.2! 48.5^ 48.4 51.8 Maryland 283.2 284.6 281.2 312.1 344.6 336.1 331.9! 329.2 319.1 350.9 District of Columbia ' 61.0 60.9 58. 4 59.7 59. 8 64.1 62.3; 61. 6 59.8! 66.1 Virginia. 71.3 74.6 75.4 79.3 90.2 95.2! 96.8 98.2 95.4 102.4 West Virginia...; 57.1 60.7 57. 5 65.5 64.6 68.91 66.3, 69.0 65.0 69.6 North Carolina. 35.7 40.2 39-9; 45.4 59. 4 57.31 58.8s 54.8; 57.4, 55.2 South Carolina..: 35. 2 31.4 33.1; 36.7 45.8s 48.4 45.7J 42. 1; 42.7 42.6 Georgia 43.3 47.6! 47.4! 54. 4! 65.3! 58.8 67.8! 56.7: 57.2 62.0 Florida 142.3 121.9; 117.3; 123. 5) 124.6; 122.5 121.9; 121. 4! 108. 5 104.5 East South Central: Kentucky ..„_; 89. 3! 90.1; 93. 4! 112. 2| 118.4! 129.3 130. lj 125. 7! 116.0! 114*0 Tennessee 46.5 47.1 48.1; 49. li 56.0' 63.9 64.7 75.1! 69.3 75.0 Alabama. _ 48.5 45.7 48.1; 50.3 57. 9! 58.0 60.9i 57.5| 53.4! 51.4 Mississippi 43.9 43.7 45.1! 49.5; 52.8! 51.5 53.4! 52. 2! 54.4i 48.9 West South Central: Arkansas 25.7 26. 91 24.8! 28.3^ 32.7; 37.1 42.2| 43. 8i 42.3 36.7 Louisiana \ 61.7 64.2 63. 4j 66.0! 77.0; 71.4 89.3 81. 2> 81-7! 77.0 Oklahoma 103. 8i 112.0; 119.6| 125.3! 133. 6| 140.1 149.4| 147.7: 147. l! 133.8 Texas 169. 0i 166.0; 164.1! 186. 6| 214. 6i 238.5 274. 41 268. 2; 237.8l 227.5 Mountain: i Montana 44.1' 43.3! 48. 0i 46.4! 52. 8' 53.1 58.81 56.4! 56.4! 54.8 Idaho ...... 23.0 23:9: 26. 9| 25. 41 29.7i 31.0 32.7! 28.7! 30.8; 29.0 Wyoming... 12.7 12.9; 14.3 I4.4i 16.2; 16.3 19.4! 18.2i 17. 61 15.5 Colorado... 89. 3; 93.7! 96.3! 96. 7i 99.9! 100.2 99.0! 94.0! 88.9| 88.5 New Mexico 7.3 8.6 10.3 11. 51 12.6 13.7 14. 9: 14.81 14.8 15.1 Arizona 13.5 14.7' 18.11 19.4! 22.2 24.2! 29. 5| 30. 61 31.3 28.8 Utah 28.6; 29. 0! 29.1! 29.3! 29.7; 32.9! 36 6\ 36.0! 35.7 37.9 Nevada ..... 7.1 7.7; 7.7; 7.8| 8.1! 9.0 9 1! 8.7 Pacific: Washington..... 131.0! 133. 9J 141.1! 145. 5' 160. 6 164.0 170.1! 161.0! 156. 2 158.3 Oregon 85.6 85.1 91. 6j 92.11 111.1 114.61 117. li 114.6' 112. 5! 109.0 California... 767. 7 i 771. 7 799. 6: 815.5! 916.3 958.5 1,034.11 994. li 932.9! 995.8 Back noures.—See Annual Report for 1927 (Table 83). NOTE.—For classes of banks included see note to Tables 87-90. Figures for member banks are 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

CONDITION OF ALL MEMBER BANKS IN EACH DISTRICT No. LT, MEMRER BANKS PRINCIPAL RESOURCES AND LIARIUTTRR ON CAT,TJ DATES, 1922 1930 BOSTON DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86J Loans and investments Call date Total Loansi In r v u e T stm sT en T ts o 'th^r I | b D an u k e s 2 Capital, de T p o o t s a i l ts D p e o d m s e it a - s n d * ! ! p T o d i s m e i - t e s s I ! S p U J o i t d n ? a s e i t : i - t e t + e s s d e! j !| | bU D ai4 u nB e kK sS t o 6 " d d de e e N pp m oo e a ss t n iitt d ss de t p N m im lu e a t s e nd R e s w r F e e a s e r i l e d v t r h r - e v e e - p r a B e a y d n i a l i d l b s s - le N b be a u r n m k o - s f Total It securi- securi- profits3 deposits banks counts li ties ties ; 1922—Dec. 29 1, 940,910 360,707 580, 203 !252, 241 327, 962! 85, 972; 341,189 1,923,6931L234, 774; 510,1 25,124 152,8341,255,210 1, 766,171129,027 59,859 429 1923—Apr. 3 1, 969, 736 395,154 574, 582 247,503: 327,079 83, 864; 341, 830 1, 929, 943 1198, 935 551, 328 26, 303 153,377 1,223, 726 1, 775, 054123,011 63,903 427 June 30 2,031, 548 443. 972 587, 576! 257, 4591 330,117 79,175; 343, 218 1,962,709 1217, 221 574, 781 38,182| 132,525 1,234,101 1, 808, 882125, 773 71,377 427 feJ Sept. 14 2, 046, 991 466,144 580, 847! 253,106; 327, 741 79, 873! 340, 726 1,976,910 1,228, 530 593,934 20,803! 133,643 il,247, 569 1, 841, 503122,910 80,249 424 Dec. 31 2,017, 467 440, 407 577,060| 249,397! 327, 663 92, 943 [ 335, 621 2,023,190 1256, 9601 599, 437 23, 552 143,24111,262,1261 1, 861, 563124,243 74, 200 424 1924—Mar. 31 2,008, 342 il.441,4091 560,933M 237, 550! 329,383 73, 729 340,304 1,990, 907il196, 287! 633, 558 21, 555 139, 507 1,213,113! 1, 846, 671121, 920 40,896 421 June 30 2,052,373 -'442, 6601 609,713i 249,332! 360,381) 102,6311 341, 710 2,103, 255 1256, 930! 657, 438! 25,119! 163, 76811,281,509! 1, 938,947 130,161 20,886 421 > Oct. 10 2,159, 930 524, 2961 635, 634^ 243,543! 392,091!102, 7401 347, 779 2, 220, 595 l!297, 2191 702,701; 41,814| 178,861 j 1, 2, 043,467 136,458 9,842 419 Dec. 31 2,133, 539 503, 9331 629,606) 243, 009; 386, 597!102,551! 338,921 2, 226,423 13,29,125| 685, 8751 36,150| 175, 273! 1,349, 294 2,035,169 140, 840J 39, 777 419 1925—Apr. 6 2,174, 362 547, 736; 626, 626 !|239,983! 386, 643 84,469! 361, 307 2,193,088 1.254,916! 733,041j 35, 902! 169, 22911,294,81812,027,859 132,902 41,082 420 June 30 2,233, 551 601, 878 631,6731, 232, 736 88,607! 363,459 2,, 272,117. l3!42,065! 758, 742j 12,9131 158, 397 1,352, 242 2,110, 984 141, 042 55,649 420 Sept. 28 2, 304,449 670,070! 634,379i! 232, 530 401, 849 87,157! 359,046 2,303,432! 1,365,614' 762,858! 19,656| 155. 304 1,382,824 2,145, 682 141, 545 46, 249 420 Dec. 31 2, 361, 779 692, 247 669,532j| 247,490 422,042 104, 9441 357.928 2,411,894jl434,657! 782.875!. 27,916 166, 446 1,427, 788i2, 210,663 141,116 71,910 420 1926—Apr. 12 2,373,498 668,643 704,855; 274, 757 430,098 90, 542! 368,659 2,396,760|l, 362,354! 812, 4611 53, 727 168, 218 1,386, 713;2,199,174 143, 796 31, 261 418 June 30 2,409, 270 690, 063? 719,207!; 256, 848 462, 359 93, 797! 361, 503 2,459,050(1,422,959! 844,070! 30, 211 161,810 1,407, 21912, 251,289 145,607 48,321 416 Dec. 31 2, 428,155 708,281! 719,874! 237,182 482, 692| 92, 3821 365,463 2,447,47611404, 878; 858,168; 22, 566! 161,86411,404, 289|2, 262,457 147, 755 83,467 416 1927—Mar. 23 2,436, 708 116.87,125! 749, 5831! 255, 739 493,844! 84,9941 379,172 2, 432,82911.330,989! 890, 9631 39,132J 171,745H,361,16912, 252,132 142, 872 37, 821 415 June 30 2, 535,667 743, 948i 791,719! 254,097 537,622 103,185 j 389,942 2,553.87111403,3481 932,343 23,936! 194, 24411,419,891!2,352,234! 149, 723 60,484 414 Oct. 10 2, 597,011 785, 651 811,360! 250, 600 560, 760 94, 307| 397, 255 2,614, 75511421,146J 964, 529! 39, 269; 189,811|1.455. 932|2,420,461! 148,087 37, 781 i 414 Dec. 31 2, 582, 622 765,143 817,479! 267, 616 549,863;119,993! 394,661 2,651,44411448,088 973,967; 21,577 2O7,812J1,480, 026 2,453,993 155, 948 31,975 413 1928— Feb. 28 2, 565,655 742, 626 823,029;; 267, 776 555, 253 82,106! 400,829 2,530,462!! 364, 539 975,0871 5, 729! 185,10? 411,270!2,386,357 149,208! 62,089 413 June 30 2,641,830 849, 278 792,552) 245,492 547,060 85,376! 415, 764 2,526,299!! 344,158 13, 808J 175, 236 1,383, 589 2,376,686 140,412 92,444 410 Oct. 3 2, 587,156 806. 4951 780, 6611: 269,057 511,604; 92, 218 424,207 2, 590, 58811407, 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! 235,373 511,376! 106,184; 429, 459| 2, 580, 809 1435,056 953,438; 183, 32911,427, 987|2,381,425 145,171 76,144 408 1929--M Ju a n r e . 2 2 9 7 ..._. 2 2 , , 6 6 0 1 0 2 , , 0 9 3 4 5 4 8 82 7 3 0 , , 8 3 4 4 9 0 7 7 7 4 0 2 , , 6 0 9 9 5 5 ! M ! 2 26 8 6 5 , , 1 2 9 9 5 9 4 4 9 7 1 5 , , 7 5 9 0 6 0 ! ! 8 8 4 4 , , 8 92 7 5 3 ! i 4 43 3 8 4 , , 8 2 3 5 0 1 2 2 , , 4 4 6 85 1 , ,1 7 4 2 6 6 l!3 33 2 1 8 , , 3 7 9 9 4 5 9 97 5 0 0 , ,3 5 4 6 9 3 ! ! 2 1 0 8 , ,61 22 0 3 1 1 1 16 6 3 3 , , 1 7 4 93 5 1 1 , ,3 3 3 4 7 7 , , 4 9 7 9 4 0 1 !2 2 , , 2 3 9 08 7 , , 8 5 2 5 3 3 1 1 4 4 2 0 , , 4 3 0 96 0 ! ! 7 8 9 5 , , 6 7 3 9 0 2 4 4 0 0 7 8 Oct. 4_ 2, 634,401 919, 834 714,567!; 265,004j 449,563! 101, 612; 459, 2972, 544,171 401, 910 945,129! 20,463! 176, 669 1,394, 56612, 339, 695 151, 226 79,837 407 1930— J D S D M u e e e n p c a c e . t r . . . 3 3 3 2 2 1 1 0 4 7 _ . - ._ . - . 2 2 2 2 2 , , , , , 5 5 5 5 5 6 8 9 1 7 0 3 1 0 0 , , , , , 7 4 6 8 9 5 5 3 7 0 8 9 8 " 4 * 1 9 8 8 8 7 1 6 3 0 4 8 5 9 0 8 , , , , , 4 1 9 7 7 9 6 4 8 7 9 2 5 4 9 6 7 7 7 7 5 5 0 6 7 5 0 1 1 5 , , , , , 8 2 1 9 2 5 5 0 5 9 4 9 0 9 7 ' ! ! " ! ! I I 2 2 2 2 2 4 3 1 3 4 5 1 5 7 4 , , , , , 4 9 4 5 5 0 1 7 8 0 9 5 1 2 4 ! 4 4 5 5 5 5 3 2 1 3 4 9 6 1 7 , , , , , 8 3 3 5 3 9 4 8 7 9 2 0 3 7 6 : ! ! 1 1 1 1 8 4 5 0 1 2 3 0 2 7 , , , , , 4 6 1 1 5 4 1 8 4 2 6 3 6 8 4 ! ] ; | ; 4 4 4 4 4 5 5 5 6 6 6 9 3 4 9 , , , , , 7 7 6 8 6 8 8 2 3 3 9 1 5 4 8 ; ! 2 2 2 2 , 2 5 , , , , 5 5 4 5 3 5 7 6 3 2 7 6 , 5 5 , 2 , , , 0 9 4 3 4 0 3 2 7 0 0 8 5 9 i ! ; 1 1 l ! ! 4 3 2 3 2 9 3 5 0 7 8 3 0 0 8 , , , , , 8 0 6 0 9 9 6 0 7 5 5 4 6 3 8 1, 9 9 9 9 0 3 9 6 2 9 2 6 5 8 8 , , , , , 1 8 1 1 4 8 5 7 3 3 8 2 9 9 4 1 ! ! ; ! 2 2 2 23 3 7 3 2 , , , , , 8 8 3 7 7 8 8 3 7 8 8 2 4 3 8 ) ! 2 2 1 1 1 0 1 8 7 9 1 5 6 2 7 , , , , , 2 5 2 5 7 6 9 4 4 2 3 1 6 9 2 1 1 l 1 , 1 . ! ,4 3 3 3 3 2 3 0 5 2 6 6 9 1 1 , , , , , 0 0 5 6 7 2 6 0 4 0 7 5 1 0 5 j ! 2 2 2 2 2 , , , , , 3 3 3 3 3 5 0 4 0 4 9 8 4 5 7 , , , , , 4 6 8 6 7 C 1 2 4 6 4 6 4 7 4 1 1 1 1 1 4 4 4 4 4 7 6 2 6 1 , , , , , 4 7 2 0 7 9 9 5 5 0 9 8 2 3 7 ! : i 4 3 2 1 1 8 9 1 9 6 , , , , , 2 2 7 5 r 3 2 4 3 " 0 8 2 1 ! 4 4 4 3 3 0 0 0 9 9 1 3 4 6 8 For footnotes see p. 173, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 04.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930—Continued NEW YORK DISTRICT to [In thousands of dollars. For back figures se8 Annual Report for 1927, Table 86] Loans and investments Call date Total Loansl 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 l , , I j 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 ! | I p T d os i e m i - ts e 6 S po t d a s e t - i e ts s r>rm tn ?! | \ d d e e N m po e a t s n it d I s ! de p N t p i l m u o et s s e its ! ! e R b s r a e F e a n r s l e v e k r r e d e s v - - e! 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 ; | I j j i b b s a e iu r n m k o s - f d t-1 ties ties d 1922—Dec. 29 | 7,466, 608J4,932, 801 2, 533, 8071,339,197 1,194,610 169,438 1,185,280 8,591,88615,720,830 1,438,246218,392 1,214,418|5,681,802i 7,120, 048J 756,020 167,268] 803 O 1923—Apr. 3.-. J 7,454,083!4,980,882 2,473,2011,323,6221. 149,579 155,347 1,189,347 8,023,814 5,079, 498 1, 578, 708163,6211,201,98715,431,859 7, 010, 567; 717, 537 238,334! 813 Ed June 30.. -i 7,497,4515,017,444 2,480,007 1, 314,491 i;165, 516 153,136 1,192,425 8,017,195 5,108,106 1,610,560 81,8061,216,723)5,521,324 7,131,884 j 700,431 203,963 821 Sept. 14.. 1 7,293,2534,902,895 2,390,358 1,219,196 1,11771,162 i,**.,, vvi 7, 769,874 4,993,407 1,639, 550 31, 687 1,105, 230 5, 315, 74916, 955, 299: 682,911} 209,2071 827 Dec. 31.. -i 7,494,0105,066,154 2, 427,8561,228,164 1, 1"99, 692 190', 096 1,208,144J 8,747,80215, 703,986 1,666,420 62,6661,314, 730J5, 040,308 7, 306, 728 713,147] 166.190; 835 1924—Mar. 31.. 7,590,730 5,179,101 2,411,62$1,172,822 1;238,807 155,082 1,234,431' 8,809,424',5,622, 719Jl, 744,610 74,2481,367,847 5,606,831 7, 351, 441! 738, 616! 107,153; 843 June 30.. 8,070,9665,404,044 2,666, 922 (1, 226,982 4139, 940 189,547 1, 239,667| 9,535,373J6,128,8841, 786, 274 36,4721,583, 743.6,184, 92817, 971, 202) 756, 5061 61, 985: 840 Oct. 10.. 8,471,2465, 544,211 2, 927,035 jl, 366, 7915 l60|, 244 190,055 1,267,110| 9,454, 508J5, 794,88811,978,009 62, 615! 1,618, 996 6, 444, 058!8,422, 067! 831,948 47,1571 845 Dec. 31-. 8, 666, 6835, 720, 312 2,946,371 1,321,606 1,624,765 203,212 1,267,123J10,481, 558J6,754,878,2, Oil, 599| 50,5381,664,543 6,700,924! 8, 772, 523; 885,556 100,152 855 1925—Apr. 6... 8,499, 4105, 634,028|2,865,382 1,252,9411,612,441! 169,194 1,322,7711 9, 433, 563 5, 845, 209(2,082,315 84,7991,421. 240 6,178, 514 8,260,829! 777,110! 168, 780; 857 June 30.. -I 8,745,7485, 848,14812,897, 600 X 243, 957|1,653,643; 207, 783 1, 339,54110,419, 292-6, 740, 915 2,099, 725 25,85111, 552, 801! 6, 629, 782 8,729,507! 848,817! 138,950 866 Sept. 28.. - 8,833,166!5,982,39412,850,772i! 1,202, 51711,648,255! 178,142 1,343,249! 9,697, 3156,186, 688 2, 111, 813 66,1151, 332, 699 6, 351,193 8.463,006; 801, 882j 231,187) 874 Dec. 31.. -| 9,296,598 6, fill, 49612, 785,1021 1,186, 237 1, 205, 724 1,367, 649,11, 052, 855:7, 216,381 2,178, 484 74, 3521, 583, 638 6, 960,131 9,138,6151 868,685j 258,133 s 880 1926—Apr. 12.. ! 9,039,6546,207,46812,832,186:1,171,41411,660,772 187, 772 1,431, 456J10,062,890^6,323, 716 2, 253,128 71,0371, 415, 009 6,444, 716 8,697,844! 781,876] 156,512 885 June 30. . J 9,308,4386, 398, 775 2, 909, 663 II,196,774'1,712,889: 202, 914 1,432,738 10,772,48816, 852,192 2,312,027 42^ 021]lI 566^ 248'6,836', 535J 9,148,562! 864,614} 110,458: 896 Dec. 31. . -! 9,666,981 6,861,318 2,805, 663J 1,060,4041,745,259 230, 7091,499,733 11,263, 683(7,194, 385 2,445,925 6~0~, 0"3"7—1, 563, 336 6, 93"5-, 6-5 6 9, 381, —581 840,895 211,854 913 1927—Mar. 23.. .1 9,595,9246,601,14612,994,778! 11,183,807il,810,971 i182,240|l, 559,062 10,490,336 6,428, 938 2, 527,820| 112,072J1,421,506 6, 662, 934 9,190, 754 929,202] 161,514 924 June 30. _ -110,125,804 7,026,078|3,099,726|!l 176,808! 1,922,918 227,7651,602,008 11,722,453 7, 314,105 2, 654, 557| 32,922j 1,720,869 7, 235, 629 9,890,186 918,169} 112,560 927 fe! Oct. 10... .110,135,0107,111,070 3,023,940 "' 162,683| 1,861,257! 198,737 1,652,65311,206,035 6,704,641 2,748,230j 152,0371,601,127 6,858,140 9, 606, 370 901,892 185,495^ 933 Dec. 31.. .,10,946,991 7, 788, 539|3,158,452 212,650! 1,945,802; 248,865J1, 702,548J11, 943, 780 7,108, 056 2,837, 085! 75,808.1,922.831 7, 629,367 10, 466,452 1,037,883 314, 259 937 § 1928—Feb. 28.. .|10,427,642 7,167,80i!3, 259,838 341,4301,918,408* 188, 780!l, 742,07111, 259, 540 6, 708,895 2,902, i™ 17,5421,630,907 7,067,895 9,970,091 933,218 142,917! 934 June 30.. .11,098,295 7, 758, 512 3,339,783 372,2481,967, 535! 207,414! 1,863,66511,683, 615 6,875,421 3,037, 691! 1,0771, 701, 426 7,197,614 10, 235, 305 943,631 481,048; 934 Oct. 3... .,10,826,917 7, 590,497 3, 236, 420 399, 687 '1,836,733 191,928 2,005,088! 11, 440, 606 6,817,686 3,069, 337! 34,6361,518,947 6,741,434 9, 810, 771 891,999! 391,150! 934 Dec. 31.. .111,592,9088,404, 303 3,188, 605 353,4381,835,167 234,068 2, 064, 23313,939, 287 8,930, 673 3,145,434! 63,493.1, 799, 687 7, 612, 549 10, 757,983 —98 0, 6"4•4•• 499,445 W 1929— J M un a e r . 2 2 9 7 . _ _ . . . .1 1 1 1 1 1 , , 7 3 7 1 5 7 , , 3 1 4 8 5 3 8 8 , , 1 7 3 6 9 9 , , 4 4 5 9 6 6 3 3 , , 1 0 7 0 7 5 , , 8 6 8 8 9 7 3 2 9 6 3 3 , ,4 0 6 9 9 5 1 1 , , 7 7 4 8 2 4, , 4 5 2 9 0 2! 2 2 5 2 2 0, , 1 4 5 8 7 3 2 2 , , 3 2 6 39 8 , , 2 76 5 6 4 1 j 1 1 2 ,8 ,7 6 4 7 3 , , 0 8 4 3 4 58 7 , ,1 0 5 2 3 1 , . 1 3 1 0 5 2 3 3 , , 1 1 5 0 1 4 , , 0 8 8 4 0 0; 1 9 5 2 1 , , 4 0 6 4 5 0 1 1, , 4 5 1 16 4 , , 6 4 0 3 0 7 6 7, , 9 2 7 79 3 , , 2 2 5 11 2 I 1 1 0 0 , ,1 38 3 4 0 , ,3 0 3 5 2 1 9 95 3 3 0 , , 3 0 4 4 7 1 j 3 45 4 3 2 , , 6 2 5 3 1 5! O > Oct. 4___ Jll, 763,448 8, 813, 46G 2, 949, 982 235, 794 1, 714,188 22997 , 388 22, 6005 , 77774!1 22, 500771,1551 7,, 7 72211., 250 13,,252.1411 82,747 1,451.0137,003,104 10, 255, 245 897.455! 255,340 933 Dec. 31.. -|l2, 316, 203 lJ, 096, 589 3, 219, 614 342,844 1,876,770 294,98912, 658, 308; 13, 606, 551 8, 588!,, 004! 3,, 196,14126, 219 1, 796^ 1877,830, 36111,026,502 984, 256! 257,911 931 1930 Mar. 27.. .•11,782,558 8,541,437|3,241,121 417,3991,823,722 219,566|2, 670,93lil2,210,785 7, 264,702 3, 357, 316:109, 321:1, 479,44616,970,221110, 327, 537) 949,841 82,851 927 June 30-. 112,385,202 8,913,656 3,471,546 405, 299 2, 066, 247 304,895 2, 662,34413, 901, 873)8, 404,794 3,481, 780! 93,937 1,921, 362J7, 569,465J11,051, 245J 985,488! 166,061 923 •Sept. 24 _. 12, 092, 719 81i,596,139 3,497, 580 367,087 2,130,493 254,417 2,724,21912,150, 654! 6, 854,598 3,433,075) '0, 328 1", 792, 653 7, 231, 340 10, 664,4151,022,510 69,445 922 Dec. 31.. j 12,023, 389 8",299,878 3, 723, 511 493,680 2,229,831^ 296,202 2,600,335113,050, 337J7,811,998 3,171,518 .01,637 015,184|7, 746, 316110,917, 834 1,062,054; 88,14 ft 914 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PHILADELPHIA DISTRICT 1922—Dec. 29 l,831,634j!l,075,741 755,893 262,794 493,099 109,103! 383,421 1,775, 7821,019, 587j 521,677! 30,622 203,896 1,066, 597 l,588,274j 116,132 53, 701 716 1923—Apr. 3... 1,913,64O|1,134, 757 778,883 279,312 499,571 108,467! 387,467 1,841,9321[,027,471! 575,226i 32,597! 206, 638 1,071,449 1,646,6751 116,272 70,502 717 June 30-. 1,963,141|1,173,858 789,283 281,681 507,602 97, 850! 390,655 1,842,476 1,018,886! 613,728 24, 776 185,086 I, 057,052 1,670,7801 116,108 86,022 720 Sept. 14._ 1,968,196 i1,193,908 774,288 269,162 505,126 97,357! 398,264 1,861,07011,026,379! 628,4411 14,018 192,2321., 072,889 1,701,330 114,275 64,331 722 Dec. 31.. 1,969,009 j1,189,753 779,256 262,763 516,493 113,505; 400,928 1,940i,, 235 11.,063,120! 645,2521 18,769 213,094 1,075,482 1,720,734 118,960 68,468 722 1924—Mar. 31.. 1,988,084 1,214,437 773,647 251,066 522,581 98,310| 410,062 1,897, 466 985,701 679,593! 33,448, 198, T24 1L, 033, 5441, 713,137 114,381 51,173 724 ^ June 30-. 2,031,362 1, 240, 407 790,955 236,3001 554, 655 132, 372! 425,265 1,987,313 ,030,686l 705,706} 20,906! 280, 015 1L, 080,153 1, 785,859 121,313 32, 632 730 £ Oct. 10-_ 2,137,583 1,285,853 851,730 i244,0841 607, 646 160, 5121 443,186 2,110,5911,063, 780| 742,770| 42,937 261,1041:, 135,386 1,878,156 124,297 23,099 736 M Dec. 31.. 2,162,974 1,283,288 879,686 257,384! 622,302 119,997; 441, 738 2,137, 279 1" .—S, Q75t 774,356 25, 549 243,399 1:, 154,183 1,928, 539 129,361 42, 386 738 1925—Apr. 6... 2, 229, 64111,350,269 879,372 I254,8281 624, 544 122,145! 454,274 2,145,079 1,082,756 782,7091 49, 749 229,1,865 1,143,679 1,926,388 119,790 40,180 740 | June30.. 2,248,606|1,380,644 867,962 233,020! 634,942 108, 951 460,206 2,178,883 1,131,811 809,2561 18,917 218,899 1,180,408 1,989,664 139,752 54,793 749 £ Sept. 28.. 2,307,840!1,446,386 861,454 225,886 635,568 109,1121 463,378 2,193,043 1,131,363 829,146! 26, 712 205,822 1,181,373 2,010,519 129,518) 54,980 753 gj Dec. 31._ 2,336,92911,484,944 851,985 224,8771 627,108 126,8911 467,109 2, 300, 3171,198,146 28,906 223,347 1,220,887! 2,070,805 139,8011 61,698 751 2 1926—Apr. 12.. 2,404,477!1, 545, 600: 858,877 ' 244,189 614,688 118, 6561 2,292,189 1,152,987 880,283 47,298 211,621 1,192, 583 2,072,866 131,9io! 65,059 756 JuneSO.. i 2,419,615!1,574,278! 845, 337 213,342 631,995 117,493! 488,052 2,318,643 1,169,421 897,7451 27,070 224,407 1,210, 594 2,108,339 135,378! 66,680 760 Dec. 31.. 2,478,12111,615,7011 862,420 205,786 656,634 122, 531j 507,067 2, 385, 649 I., 194,027 942,801 29,388 219,I , 4"3"3 1, 219,381 2,162,182 139,754! 75,116 1927—Mar. 23_. 2,518,2691 1.., 593, 8401 924,429 247,1731 677,256 105,424! 516, 626 2,369,542 1,141,824 975,913 45, 592 206,213 1,202,784 2,178, 697 138,39l| 52,640 770 June 30-. 2,531, 080 .1, 604,480i 926, 600 233,691! 692, 909 112,284! 520,155 2,395,978 1,160, 679J1,000,432! 25,778 209,089 1,198,405 2,198,837 140,900: 65,731 773 P^ Oct. 10__ 2,589,323]1,619, 5991 969,724 248, 6421 721,082 105,960! 543, 528 2, 443, 61511,163, 603|l, 025,9941 41, 613 212, 405 1,225,298 2, 251,292 141,789 39,513 776 » Dec. 31.. I 2,588,373 1, 616, 325! 972,048 233,553 738,495] 130,785 542,259 2, 468,8671,167,963 1,054,625 21,013 225,266|l,200,390 2,255,015] 142,118! 72,839 777 w 1928—Feb. 28...... 2,574,616 |l,597,468! 977,148 241,3251 735,823: 99,071! 550, 082 2,387,9921,115,7091, 070,330 4,1 197,120 1,176, 753 2, 247,083! 141,136! 66,396 779 June 30 i 2,655,802 1,690,219 965,583 226,496| 739,087; 115,888 563,490 2,419,7781,114,L 254 1,'104,008 13,208 188,308 1,149,187 2,253,195! 137,420; 112,785 786 Oct. 3_ I 2,693,461 1,729,944 963,517 249, 5981 713,919| 119,703 582. 059 2,467,617.1,140,456 1,106,901! 8,499 211,7611,177,6 2,284,5871 142,4381 113,808 784 Dec. 31. ' 2,665,755 1,7-•4•4 ,5—65 921,190 230,977 i 690,213! 126,280! 578, 972 2,487,654:1,179,855 1,091,091 j 15,572 201,136 1,171, 440 2,262,531! 136,047: 99,244 778 O i 1929—Mar. 27.. 2,713,684! 1,813,353 900, 331 227, 898 i 672,4331 98,940 601,140 2, 423, 843:1,139,98311, 087,755 22,243 173,,862 1,,151,602 2,239,3571 136,094 125,933 777 June 29.. 2, 710, 020| 1,832, 438 877, 582 221, 220i 656,362 113,037 624, 773 2, 434, 8691,146, 20711, 075, 299 29, 840 183, 5231,164,842 2,240,141 138,878 105,055 776 Oct, 4___ 2, 754, 9271|1,889,6511 865, 276 217,173! 648,103 107,137 651, 832 2,441,824 1,140,9121, 084,492 29, 694 186, 726 11,171, 097 2,255,589 136,598 101, 593 771 Dec. 31.. 2, 686, 721|jl, 859, 014 827, 707 193, 436! 834, 271; 118,092 649,169 2,468,444!!, 185,0391,069, 359 10,130 203,,916 1,176, 799 2,246,158 137,069 94,311 764 ! 1930-Mar. 27- 2,670,612. 1,833,980! 836,632 189, 544! 647,088 105,969 657,887 2,410,795! 1, 095, 903|l, 108, 362 22,887 183, 643 1L,, 136, 032 2,244,394 135,21i; 48, 705 759 June30... 2, 713,218 11,829,346! 883,872 195, 507J 688,365 131,774 655,023 2,518,979 1,144,17411,132,217| 24,259 218,329 1L,, 171,732 2,303,949 139, 989! 44,961 756 Sept. 24.. 2,736,570:11,814,241! 922,329 I 195, 564! 726,765i 161,814! 660, 545 2, 540,895i 1,101,074j 1,161,258 18,129 200,434 1[, 182,753 2,344,011 142,720! 26,856 755 Dec. 31.. 2,733,204; 1,767,136 966,068 I 219,250' 748,818 148,079! 651,161 2, 577, 5001,144,318 1,173, 585 21, 525 238,072 1[,, 187,035 2,360, 620 145,098 40, 774 753 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. * Includes postal-savings deposits. • Includes amounts due to Federal reserve banks, foreign banks, and other banks; also amounts due to own foreign branches. 7 Due to banks revised (for New York district only) to include amounts due to own foreign branches beginning Mar, 23,1927. co Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 94.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930—Continued CLEVELAND DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Total Loans1 Total Inve s s U e t c . m u S r e i . - nts s O ec th u e ri r - i : b D a fr n o u k m e s2 ! s p C u v u r a a o r i n p n p d f d d i i l e t i t u d s - a s J l , , i de T p o o t s a i l ts I i i D p d o e s e m i - ts a n * d p T os d i i e m t - s e s S p t o d a s e t i - t e s s b D a u n e k s to 6 1 d d e e p N m o e s a t i n ts d d de e t p p N m i o m lu e s a i e t s n ts d ; ! : R e b s r e w F e a a s r l n i e e v t r r k h e d e v s - e -p c r a B o e a y ' u d i n a l n i d l b s s t - l s e I I i ! ; N b b a e o n r u k o i s - f ties ties I 1922—Dec. 29. : 2, 566, 545 J, 674, 543: 892, 002' j 368,59l| 523,411 i 159,714, 479, 440'2, 532,153J1, 265, 529 1, 005, 547! 35,701| 225,376|1,368,1301 2,373,677 153,239 56, 797J c 1923—Apr. 3._. 2, 635, 721 1, 735, 66 li 900, 060, 389, 7711 510, 289 165,4G9j 482, 034!2, 628, 373:1, 340, 85811,024, 774; 28, 6901 234,0511,407,058| 2,431,8321 159,367 41, 373; 878 June 30.. 2, 735,101 1,838, 266! 896, 835; 378, 219 518,616 153,032i 484, 360|2, 655, 422J1, 359, 759J1, 068, 268! 18,9191 208.476 1,415,2161 2,483,4841 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, 608! 222,8701,421,416| 2, 525, 764! 159,162 64,120 881 Dec. 31. 2, 725,468 1,841, 586| 883, 882| 337, 937| 545,945| 147,0S8j 492, 5862, 697, 972! 1, 331, 249 1,135,752; 27, 205 203,766 1,358,515j 2,494, 267! 152,093 57,9141 877 924—Mar. 31- 2, 785,473 1, 862, 522 922, 9511 364, 992! 557, 9591!159,5801 501, 837|2, 747, 624)1, 330, 507 1, 172, 043: 34,566 210,508 1,383,494 2, 555, 537 156,029 46, 290 876 June30- 2,827, 379 1,877,0611 950, 318' 380,895' 569,423 178,200; 504, 602'2, 833, 901!], 352, 41lil, 233, 441 19,129! 228, 920 1,411,454 2, 644, 895 158,172 31,671 873 Oct. 10.. 2, 927, 572 1,896,77711030, 795 446, 091 584, 704 202,198! 519, 340:2, 951, 279:i, 374,189! 1, 252. 237j 33,165! 291, 688 1,488,136 2, 740, 373! 168,858 28,647 872 Dec. 31.. 2, 915,147 1,896,063 1019,0841 426, 795; 592, 289; 169,935J 513,341:2, 917,911 1,367, 064|l, 246, 764 22, 816J 281,267 1,453,9511 2, 700, 715 163, 593 55,626 871 925—Apr. 6__. 2, 990, 76S 1,969,49411,021,274. 423, 828! 597,446; 169,015! 525,296! 2,997, 555! 1, 383. 080! 1, 298, 976: 48, 567; 266, 932 1,479, 878! 2, 778,854 177, 348 40,069' 869 June 30. 3, 021, 365 2,011,473 1,009,892 407, 929 601,963 158,871i 523, 686! 3, 034, 500'1,429,178; 1, 32S, 000 24, 696; 252, 626 1,504, 378! 2, 832, 378! 175, 224 47, 997i 865 Sept. 28. 3, 082,835 2, 063, 815 1,019, 020 415,174' 603, 846, 161,9471 520, 333! 3, 052,19211,429, 260jl, 342, 045i 35, 393! 245,48811,502,967,! 2, 845, 0121 176, 535 65,761! 864 Dec. 31.. 3,044, 613 2,059, 826 984, 787 377,444, 607, 343 170,7641 516,112; 3, 052, 565J1, 438, 295! 1, 338, 656: 27, 7511 247,863jl,473,218| 2,811,874j 172,340 76,722 863 26—Apr. 12.. 3,114, 603 2,110,503|1,004,1001 404,163 599, 937 161,630; 527,090l 3, 096, 756! 1, 426,150 1, 388,458: 41, 796J 240,3521,477,901! 2, 866, 3591 177,825 65,634 860 June 30-. 3,160, 748 2,135,31111,025,437 402,385: 623, 052 177, 936! 526,1681 3,169, 922; 1, 478, 616|l, 426, 613! 25,181 239, 512 1,529, 8531 2,956,466! 179,455 58,821 860 Dec. 31-. 3,132, 525 2,143,838j 988, 687 353, 932 634, 755 170,647J 529, 783| 3,129,859; 1,439, 708J1,423, 674; 20,495 245,982)1,471,472! 2,895,146 j 179,490 91,355 856 tr1 1927—Mar. 23. 3, 232, 279 2,159,73411,072,545 411, 282 661, 263 185,496| 540, 208| 3, 270,117jl, 495,113,1,479,320j 30. 294! 265,39011,570,390 3,049,710 194,278 44.937 846 June 30.. 3, 267, 065 2; 178, 525! 1,088, 540 398, 760' 689, 780 168,759 539,565! 3, 290,464jl, 490,171 1, 523,854 21, 243! 255,1961.559,309! 3,083,163 180,034 48, 511 841 D O e c c t . . 1 3 0 1 . . . . 3 3, , 3 2 2 9 5 6 , , 4 3 3 0 3 0 ; 2 2, , 1 2 6 0 1 0 , , 7 7 3 6 9 5 1 1 1 1 , ,1 1 3 2 4 4 , , 5 f" 61 ~ 4 41 2 1 5 , , 1 7 4 0 8 8 i ; 6 72 9 2 9 , , 4 9 1 6 3 0 1 1 8 8 5 4 , , 8 19 5 6 5 5 55 4 1 99 , ,, 9' 2 2 9 1 4 1 J 3 3 , , 3 3 0 3 3 5 , , 1 7 8 5 4 6 1 1 1 , , 4 4 6 5 0 8 , , 3 3 4 8 8 7 1 1 , , 5 5 4 6 4 8 , , 2 6 0 2 4 7j 3 24 1 , , 4 2 0 4 1 3 1 ! 2 2 7 7 6 4 , , 9 8 2 0 7 3 | | l l , , 5 5 2 4 3 9, , 1 1 4 2 3 6 1 | 3 3 , , 1 0 1 6 7 7 , , 3 77 3 0 0 J ! 1 18 9 0 3 , , 8 9 9 1 1 7 6 6 0 8 , , 7 3 2 7 1 2| i 8 8 3 3 6 5 r f p t! 1928—Feb. 28.. 3, 347,123 2,187, 6271,159, 49G 434, 356' 725,140; 179,299 533.163! 3,356.766 1., 458,127 1., 610,1-141 9, 267! 279, 2222i8 .1, 534, 9571 3,145,101 196, 926 74, 224J 834 June 30.. 3,447, 585 265,7981,181, 78" 429,473| 752,314^ 159,780 560,096J 3, 366, ~ 1,477, 849 1.., 643. 809| 17, 629 227, 0011, 521,844 i3,165, 653 181, 671 111,464! 823 Oct. 3__. 3, 426, 978 2, 274, 4651,152,513 447, 786! 704, 727i 182, 543 569,882 3,413,370 1.. 479>,, 885 .1, ,645, 637; 12,773 275, 0—75 1,553,7121 3,199, 349 191,919 78,368j 818 Dec. 31.. 3, 414, 291 2,291, 19'6 1,123, 095 423, 961 699,134, 181,140 570,421! 3,401, ,497, 765 1., 642, 632 24,153 236,562 1, 490,257 3,132, 889 185, 295 105, 201 j 816 w 1929—Mar. 27. 3, 477, 587 2, 352, 3271,125,260 450, 671 674, 589! 149, 644 581,977! 3,386,308 1, 465, 5671, 670, 439 30, 8331 219, 469 1L., 504, 0343,174, 473 184, 871 101, 605 811 o J O u c n t e . 4 2 _ 9 _ .. . 3 3 , , 4 4 8 9 7 8 , , 2 7 6 8 5 0 2 2 , , 3 4 7 1 5 8 , , 8 3 0 6 7 2 1 L , , 1 0 1 7 1 9 , , 9 7 9 3 03 i 4 4 2 3 8 5 , , 1 8 0 0 1 2 1 1 6 6 7 5 6 1 7 , 1 8 0 7 1 2 | i1 1 5 4 6 9 , , 9 97 0 4 0 6 6 0 2 4 1 , , 2 4 5 7 9 8 3 3 , , 3 4 9 02 4 , ,7 03 1 8 1 1. , ,. 4 4 9 7 0 9 , , 8 4 8 2 4 21 1, , 6 6 3 7 9 7 , ,1 0 8 7 6 5 3 3 3 4 , , 2 3 2 3 2 0 2 2 1 3 2 0 i l , ,, , 4 2 2 08 8 L1 .1, , 5 5 0 2 4 9 , , 0 6 2 4 5 03 3, , 1 1 8 6 1 8 , , 2 7 1 1 1 5 1 19 9 2 2 , , 9 6 1 4 1 9 1 9 0 7 3 , , 6 5 3 1 7 2 i 8 80 0 4 7 > Dec. 31.. 3,455,405 2, 409, 5"3"7 11, 045, 868 ! 405, 738! 640,130; 156,348 618,487 3,376, 48'6" 1., 519, 2711, 620, 642 13,814 222,7591'., 511, 793 3,132, 435 180,470 100,499; 795 1930—Mar. 27. 3,454, 3032, 374,125 1,080.178 444,159 636,019 163,521 627,239 3,394,2471,435,i, 149 .1, 679, 379 25,113! 254:,, 606 11,506,413 3,185, 792 189,145 35, 9161 789 J D S u e e n c p . e t. 3 3 2 0 1 4 - . . . 3 3 3 ' , , , 4 5 4 1 2 7 8 9 9 , , , 7 7 0 5 8 3 7 3 32 2 2 , , , 2 2 3 9 6 3 9 2 5 , , , 8 3 5 6 0 0 4 9 4 1 1 1 , , , 1 1 2 5 4 2 6 3 9 , ; , 5 3 9 2 9 7 9 3 4 j 4 4 5 4 4 1 5 4 8 , , , 2 5 9 7 2 7 4 5 3 6 7 71 9 1 0 5 5 , , , 2 0 8 5 0 6 5 1 8 : i : 2 2 1 0 2 94 6 3 , , , 8 0 7 5 6 2 3 2 3 6 6 6 1 2 2 8 8 5 , , , 5 2 4 5 0 2 7 3 5 ! ! 3 3 3 . , , 5 5 4 6 0 2 1 3 7 , , , 9 55 9 3 7 1 1. . , , , 4 4 4 3 8 0 2 3 9 , !, , , 8 2 4 0 9 8 6 1 3 1 1 1. ., , , , 7 6 6 2 5 7 4 2 3 , , , 5 8 8 4 0 1 3 4 2 2 2 2 8 4 5 , , , 5 5 4 0 2 9 0 5 6 1 ! | 4 3 3 0 2 1 1 2 3 , , , , 8 4 7 7 4 7 9 0 0 1 1 1I I .,, , , 5 5 5 9 1 7 3 2 3 , , , 0 4 5 6 5 3 6 2 6 3 3 3 , , , 1 2 3 6 4 1 5 7 7 , , , 2 3 6 4 6 0 0 4 9 ! ! | 1 1 1 8 9 9 5 8 0 , , , 7 7 6 4 4 3 7 5 3 2 5 3 2 0 9 , , . 8 4 9 4 8 3 2 8 8 i ! 7 7 7 8 6 5 1 7 7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RICHMOND DISTRICT 1922—Dec. 29 1,147,755 893,543 254,212| 142,681 111,531! 86,156 223,193 1,089>,, 1191 543,219 399,175 13,095 133,630| 573,281 972,456! 61,123 64,328 630 1923—Apr. 3-.. ,168,867 910, 300 258,567 147,561 111,0061 90,3351 222,836: 1,1161, 113838 552, 363 422, 732 14, 702 126,3411 576, 244 998, 976 61,395 61,853 June30.. ,181,802 922,863 258, 939 145, 510 113,429! 80,5101 222,392 1,095,204 540, 503 432, 936 14,090 107, 675! 553, 972) 986,908! 59,493 83,340 629 Sept. 14.. ,194,326 932,180 262,146 147,139 115,007! 80,302i 226,592; 1,101,106 546, 525: 432,629 8,775 113,177" 559,966 j 992,595 60,947 92,951 626 Dec. 31 — , 204,445 947, 604 256,841 141,937 114,904 102, 3311 222,481| 1,193,361 592, 546 441, 388 10,494 148, 9331 617,517 l,058,905! 66,378 63,393 627 1924—Mar. 31.. , 212,007 958,139 253,8681 132, 974 120,894! 81,830| 230,271! 1,141,728 556,141! 455, 391 14, 257| 115, 939! 571, 757 1,027,148: 61,505 72,649! 626 June 30.. ., 192, 837 952,353 240,484 124,328 116,156 87,187 229,001! 1,141,676 541,144! 466,110 10,635 123, 787 552,623 1,018,7331, 61,079 67,596 624 Oct. 10.. 1,215,112 957,002 258,110; 132, 989 125.121 107,074| 234,0731 1,193,038 551, 704! 479,437 20, 641 141,256 576,343 1, 055, 780!64, 699 51,434 620 Dec. 31. . 1, 220,335 957, 330| 263,005| 132,612 130,393! 109,057! 229, 014! 1, 241,166 596, 804; 483, 072 12,472 148,818 614,340 1,097,412; 69,632 47,745 617 | \ j 1925—Apr. 6... 1, 243, ( 975, 772 267,3141 138, 29' 129,017 98, 2361 235,0341 1,224,377 566,497^ 494,553 22,934 140,393 592,666 1,087,219! 65,060 48,083 595 H June 30. _ 1,251, 624 989, 566 262,058! 131,765 130,293 91,496 234,199 1,213,2581 567, 657! 510,542 12, 088 122, 971 577, 037 1,087, 579 62, 745 66, 7 607 Sept. 28. _ 1, 275,4811, 016, 936 258,545! 129,071 129,474 104,110 234,103 1,248, 596 583, 238! 507, 871 13,877 143, 610 604, 262 1,112,133! 68,417 606 Dec. 31.. 1,289, 9551,030, 047I 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 • | I 1926—Apr. 12.. 1, 292, 9901, 028,153 264,837j 132,506 132,33li 94,614! 234,457 1, 275,337 598, 0411 517,887! 21,124 138,2851 617,119 1,135,006 66,746 53,065; 592 June30_. 1, 281,068,1,016,044 265,024 126,264| 138,7601 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 Dec. 31.. 1,274,867)1, 011, 253| 263,614! 120,744! 142,870| 111,896! 233, 269 1,313,711 626, 016| 526,2671 12,489 148,939 643,917 1.170,184 71,890 36,895! 583 > j 1927—Mar. 23.. 1,288, 676!1, 007, 986! 280, 690! 131,424! 149,266! 102, 0551 238,412 1,299,956 593, 218! 538,140! 21, 906 146,692 620, 7501,158,! 70, 751 27,457! 571 June 30.. 1,310,826 1,013,6101 297, 216! 132,422j 164,794! 104,877 237,349 1,331,522 613,5961 566,449! 12,9221 138,555 630,919 1,197,368 73, 254 35, 479 569 Oct. 10- 1,358, 2611, 033,609 324,652! 143,394! 181,2581 120,437! 243,6241 1,396,3041 627, 914! 580,490| 24,059! 163, 841 655,550 1, 236,040 74,167 34, 572! 568 Dec. 31 — 1, 362, 0941,028, 354 333, 740| 139,1411 194,599j 124,0771 239,425j 1,414,728 626,750; 599,094! 16,416! 172,468 654,181 1, 253,275 76,460 31,557| 564 1928—Feb. 28.. 1,341,648 1,012, 275 329,37311 135,934: 193,439} 97,880 242,136 1,336,705| 587,171! 599, 9281 8, 5251 141,081 622,355 1, 222, 283 71, 705 34,039! 561 June 30 _. 1, 344,4871, 020, 535 323,952 130,587: 193,365; 90,184 240,848 l,303,39li 571, 878! 606,060! 10,655! 114,798 580,900 1,186, 960 69,881 69,150: 557 D O e c c t . . 3 31 .. — . 1 1 , , 3 3 3 3 8 8 , , 9 2 8 6 1 3 1 1 , , 0 0 2 2 1 3 , ,1 5 3 1 7 8 3 31 1 6 5 , , 7 8 4 4 5 4 1 ! 1 1 2 3 9 1 , , 8 46 0 0 0 ; ! 1 1 8 8 4 6 , , 3 9 8 4 4 5 ! 1 1 0 0 3 4 , , 5 6 7 6 5 8 ! 2 2 3 3 8 7 , , 4 7 0 2 6 4 i 1 1 , , 3 3 2 5 6 5 , , 0 4 5 5 2 5 ! 5 60 8 2 2 , , 1 1 5 0 8 9 1 ! 5 5 9 9 9 6 , , 6 3 7 8 8 7 ! ! 1 1 0 5 , , 7 79 2 8 7 ! ; 1 1 3 4 3 1 , , 1 4 8 6 3 7 5 6 9 1 8 3 , , 3 5 1 7 6 0 1 1 , , 1 2 9 0 7 9 , , 9 9 9 5 4 7 7 6 0 7 , , 995 6 4 3 8, , 1 7 6 2 5 3 5 5 5 4 4 7 a 1929—Mar. 27_. 1,351,229 1,023, 816 327,4131 143, 695! 183, 718 84,581 241,135! 1,313,731 572,875! 596,201! 27,122! 117, 533 586, 5271,182, 728 66, 9061 55,183! 541 J O u c n t e . 4 2 _ 9 . . _ . 1 l, , 2 3 9 28 8 , , 9 r 0 " 31,0 9 1 89 0 , , 2 7 1 4 2 5! 3 3 1 0 8 9 , , 6 1 9 4 1 3 ; j 1 1 3 3 7 2 , , 4 3 3 8 7 7 1 ! 1 1 8 7 1 6 , , 7 2 5 5 6 4 8 9 8 3 , , 1 2 1 9 6 1! 2 2 4 3 0 7 , , 3 0 2 5 9 0 1 ! 1 1 , , 2 2 8 6 0 3 , , 4 4 6 80 1 5 5 5 5 7 1 , , 8 5 3 7 8 8 i i 5 5 8 7 6 4 , ,3 7 2 5 6 3 ! ! 2 16 1 , , 1 3 8 4 9 9 J ! 1 1 2 1 1 4 , , 2 68 2 1 7 5 56 6 3 3 , , 4 2 8 6 5 71 1, , 1 1 3 5 7 0 , , 8 0 1 2 1 0 6 67 7 , , 6 9 6 1 1 2 7 64 0 . , 0 5 3 2 1 6 ! 1 5 5 3 2 7 4 g O j Dec. 31._ 1,277,559 974,1731 303, 386 124,446J 178,940 100,586 235, 7211 1,288,540 577.939! 562,064i 12,513! 136, 024 583, 5561,145, 620 68, 293 47, 8111 514 ,_a 1930—Mar. 27.. I, 223, 245 928. 736 294, 509! 123,601: 170,908j 86,133; 231,059! 1.219,974 524, 000; 553, 6191 27,899! I 114,456 546,135 1,099,754 65,915) 21, 1221 504 2 June30__ 1, 204,480 888,456 316,024 130,574; 185,450! 104.047 227, 3221 1,221,564 519,525! 564, 034 j 21, 807! 116,198 525, 0761,089,110 65 085; 28, 706' 486 O Sept, 24__ 1,205,717|| 881,573| 324, 144: 126.7031 197.44!! 110,915 228. 119! 1,230,344 514, 470! 567,161 i 22,655! 126. 053 530, 281 1,097,442 65, 07tij 25, 603! 485 H Dec. 31. _ 1,153, 803 I 842,172} 311,631 109. 825 201, 806! 9R, 169 221, 7441'1,192, 332 517,499! 538,3831 18,105! 118,345 520,162 1,058,545 63, 153! 31,584! 470 For footnotes, see p. 173. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 94.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930—Continued ATLANTA DISTRICT {In thousands of dollars. For back figures see Annual Report for 1927, Table 86] i Capital, I !li; I United I ! Net ! Bills ! Tof.al | Loans Total I J n | v s e e U s u . t u m S ri e . - nt I I s s O ec t u h r e i r - Due profits 3 j de T P o os ta it l s i I posits « p T o d i s e m i - ts e 6 I | | S p t o d a s t e i e t - s s I ! | b D a u n e k s t o « d d e e N m po e a s t n i d ts ! I j I d d e e t p m p i l m o u a s s e n it d s ! i ! p r a a ed y n i a d s" b le ' l b b e N r a n u o k f i * nties ties 1. d 1922—Dec. 29. 882 540| 714,1601 168, 380 100, 228; 68,152 115,426! 927,000| 499,465! 281,241 13,395! 132,899! 519,55ll 800,792 55,669 39,587j 536 O 168, 360; 1923— J D S A u e e p n p c r e t . . . 3 3 3 1 0 1 . 4 . . . . 9 9 9 9 7 0 2 1 8 7 2 9 , , , , 1 2 3 5 3 5 6 5 0 7 5 6 ! 1 i J 7 7 7 7 3 3 3 9 9 0 7 3 , , , , 6 5 3 4 4 6 8 1 6 5 8 2 ! i 1 1 1 18 8 8 7 4 2 3 6 , , , , 5 0 0 6 6 6 4 2 5 7 5 0 1 1 1 1 0 0 0 0 6 4 1 6 , , , , 4 8 2 6 3 7 4 3 2 7 2 8 ! j 6 8 7 7 8 5 9 2 , , , , 6 9 6 8 8 8 3 0 8 2 5 3 1 1 9 9 2 1 1 0 6 9 , , , , 6 6 7 5 0 3 0 7 6 3 4 3 1 ! ! ; 1 1 1 1 6 6 7 7 8 3 9 0 , , , , 9 7 1 2 8 9 7 7 8 5 8 8 !1, 9 9 9 0 6 0 2 1 3 1 6 4 , , , , 2 0 1 8 8 5 1 8 9 0 1 0 ! ! ! | 5 4 4 5 8 7 0 4 6 6 5 2 , , , , 0 6 8 2 4 1 4 8 3 0 2 5 ; ! | 3 3 3 3 0 2 1 1 6 3 7 6 , , , , 9 1 2 9 4 5 3 5 7 1 4 2 j 1 1 1 3 8 4 3 , , , , 4 6 4 0 2 4 3 2 1 6 2 1 ; j ! ' 1 1 1 1 3 0 3 0 7 0 4 8 , , , . 3 0 7 2 8 1 5 2 8 5 8 5 ! i 5 4 5 5 8 2 0 5 5 5 7 3 , , , , 3 6 0 2 1 4 0 8 0 6 3 9 ! 1 ! j 8 8 8 8 3 0 7 2 3 1 7 3 , , , , 5 0 3 5 6 3 5 8 2 6 4 0 ' ; 1 ; 5 5 5 5 3 5 7 1 , , , , 0 0 4 8 2 3 3 1 9 7 8 4 ! 2 4 6 64 3 9 7 , , , , 4 7 9 2 4 2 8 3 5 1 7 2 J 1 ! 5 5 5 5 3 2 3 2 3 5 0 8 O 1924—Mar. 31. 963, 919 784, 4991 179, 420 94, 421 84,999 106,991! 173, 570! 980, 9111 513, 5191 334,010| 8,964 124,418 531,2051 865, 215! 55,143 59, 592 519 June 30. 934,134 764,146! 169, 988 80, 497 89,49l! 116, 989 175,148 966, 022! 490, 845! 353, 746! 7,113 114, 318 501, 765 855, 511' 56,482 46, 248 518 Oct. 10.. 950,287 778,419 171,868 78, 776 93,092J 144,634 177,989!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, 079i 182,077 80, 359 101, 718 161, 860 172,972 1,125, 180| 585, 68o! 359, 3731 7,904 172,218| 607,089 966,462, 63,489 510 1925—Apr. 6... 1, 056, 772 860, 245 196, 527 91,181 105,346! 186, 971! 178, 3801,204, 801 j 603, 787| 382,1081 18,188 200, 7is| 642, 390 1, 024, 498163, 983 25, 254 505 June 30. 1, 080, 744 877,181 203, 563 90, 891 112, 672! 168, 938 i 178,489 1, 208, 026J 617, 406 398, 360j 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, 7291,371,168 700, 987 407,425! 18, 521 244, 235 755,671 1,163, 096!77. 372 37, 247 j 500 Dec. 31.. 1, 241,844 995, 262| 246, 582 106,137 140,445! 210, 957! 177, 718|1,447, 965j 777, 929| 425, 613j 16,176 228, 247 808,949 1, 234, 562!79, 311 32,135| 495 1926—Apr. 12.. 1, 235,196 989, 4741 245, 722 108,152 137, 570! 172, 755, 188, 24511, 356, 323 715, 043 432,954 20, 542 187, 784 748, 555 1,181, 509:77, 529 52,124j 492 June 30.. 1,171,995 938, 7721 233, 223 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 Dec. 31. 927,0021 231,181 87,187 143,994 161, 285! 187, 212:1, 266, 229| 645, 5111 431, 328 15, 471 173, 919( 660, 973 1, 092, 301!68, 292 52, 551 1927—Mar. 23. 1,154,415 902,85l| 251, 564 113,807 137,757 143, 649; 191, 831!1, 235, 743! 601,435! 447,148] 25,170 161, 990; 629, 897 1, 077,045*69, 360 47, 029 471 J O u c n t. e 3 10 0. .. 1 1 , ,1 1 5 4 9 1 , , 0 7 9 3 6 1 8 89 8 9 5 , , 4 5 8 0 2 5 j 1 2 26 5 0 5 , , 6 2 1 2 4 6 1 11 1 2 8 , , 1 9 9 6 2 3 1 14 4 2 2 , , 0 6 3 5 4 1 ! 1 1 3 6 6 0 , , 4 7 9 0 8 2 ! . 1 1 9 9 2 5 , , 1 2 8 3 0 71 1, , 2 2 6 1 9 7 , , 1 4 0 2 6 8 5 5 9 8 6 7 , , 8 8 2 1 4 0 4 4 6 5 1 4 , , 6 99 4 3 2 1 2 1 4 6 , , 8 3 4 5 4 7 1 19 5 3 0 , , 6 4 1 4 9 5 ; ( 6 63 1 5 1 , , 9 3 1 4 9 5 1 1 , , 0 0 7 8 3 9 , , 9 9 8 12 7 i6 67 5 , , 8 3 2 0 0 7! 4 36 2 , , 4 7 9 8 5 11 4 4 6 6 9 5 1 Dec. 31. 1,164,625 888, 206j 276,419 124, 664! 151,755| 158, 654| 192, 7031,288,011: 623,504| 462, 740J 17, 330 184, 437, 650,431 1,113,171 73, 2151 34,421; 464 1928—Feb. 28. 1,139, 0611 880, 600! 258,461 113,431' 145, 030' 141, 847! 196,841 1, 227, 296 594, 333| 458, 559J 5,000 169,404; 630, 232 1, 088, 791!70, 5831 33, 578^ 460 June 30. 1,173,465! 910,22l! 263, 244 113,83l| 149, 4131124,169! 198,004 1, 205,667! 577, 566 476, 523 18,165 133, 713| 595,928 1, 072,451 65, 7951 54, 288; 457 i D O e c c t. . 3 3 - 1 _ . 1 1 . . 1 1 8 88 7 , , 3 51 9 3 0 ! 9 8 0 9 1 5 , , 1 2 4 0 0 1 i 2 28 9 6 3 , , 1 3 8 7 9 3 ! , 1 13 3 4 4 , ,0 7 0 7 3 9; 1 15 5 2 8 , , 4 3 1 7 0 0| 1 1 2 4 7 4 , , 0 2 3 5 5 8 2 1 0 9 1 9 , , 9 8 1 7 2 7 , ;1 1, , 1 2 6 5 5 4 , , 1 0 4 3 9 2 ! | 6 5 0 4 9 8 , , 1 2 6 5 5 2 4 4 6 6 6 6 , , 8 6 2 0 3 2| 1 17 2 , , 1 0 8 2 6 2 1 1 3 6 7 1 , , 9 1 7 5 5 6 | | 6 5 2 6 5 4 , , 5 3 6 9 6 7 1 !1 1 , , 0 0 3 9 1 2 , , 1 2 6 2 8 0 6 6 4 3 , , 3 8 5 5 1 2 1 5 1 2 0 , , 1 9 3 0 9 3 j s 4 4 5 5 4 3 w o 1929—Mar. 27. 1,191, 275 906, 887 284, 388 1.32, 450; 151, 938 125, 248 207,159'1, 206, 6781 581, 634 457, 469 26,144 141,431; 607,415;1,064,884 68, 951 60,800 444 > June 29. 1,176, 597 897,985 278, 612 122,667j 155,945 112,477 204,891!1,158,873' 543, 341 471, 495 26, 274 117, 763! 554, 699!1, 026,194 64,202 72,078 436 Oct. 4__. 1,148,656 889,106 259, 550 116,596) 142, 954 131. 260 204,017;1,138, 705 538, 060 441,190 24, 813 134, 642! 549, 930; 991,120 62, 475 90, 766 431 Dec. 31. 1,114, 730 854, 781 259, 949 115, 228 j 144, 721 131, 722 199,144|1,167, 244 573,943 431,846 14, 631 146,824; 586, 606!1,018,452 64,132 42,323 428 1930—Mar. 27. 1,107,362 844, 621 262, 741 120, 0131 142, 728 134,143 204, 075;1, ]60,825i 551,112 445, 273 29, 317 135,12a! 506,865 1,012.138 65.236 26, 5761 419 June30- 1, 059,199 791, 083 268,116 117,470] 150,646 134, 558 200,821';1,112,1831 523,687 445, 648 24, 759 118, 0891 530, 534; 976,182 62,122 32, 0141 409 Sept. 24. 1, 052, 537 768, 264 284, 273 133,542 150,73l! 132,270 200,892!1,088,932 495,338 434,962 SI. 660 126,972; 508,334| 943,296 60,519 33,836 407 Dec. 31. 989,419 725, 754 263,665 112,276 151,389! 134,760 184,316!1,068,251 505,807 410,425 27,770 124,249! 509,161| 919,586 62, 543 26,409; 390 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHICAGO DISTRICT || i i : i j \| 1922-Dec. 29 3, 749,072 2, 751, 210 997,850! 463,450| 534,397.296,525 (V08,6271 3,938, 631 1,949,008; 1., 433,100 49,121 507,402 2,108,478! 3,541,578; 277, 731 i 106, 724J 1,440 1923—Apr. 3_. I 3,875,1402,857,54611, 464,8111 552,,j783j 323,115i 603, 560; 4,045,088',l, 956,60111,483,743 39,014- 565,730 2,158, 605| 3, 642,348! 269, 689j 123,996 1,437 June 30. 3,905,944 2,880,0421,025, 902 j 474, 862! 555511,004400 306,254' 605, 630 4,091, 564i2, 001,3941,530, 721 37,941 521, 508 2,178, 847| 3, 709, 568!273,134| 89,375 1,434 Sept. 14. , , , 2., 885.,975! 1,010,881 i 475,597! 535,284 300, 297| 615, 238^4,074,409'l,986,751|l, 535,188 17,458! 535,012 2,173,344! 3, 708, 532| 282, 042 92, 722 1,432 Dec. 31 | 3,898,506 2,870,0741,028,432 ; 457, 5451 570,887 299, 879; 608,381 4,123,464|2,022,700|l, 572, 311 25,441 503, 012 2,153, 042; 3,725,353! 270,698 109,317 1,427 1924—Mar. 31.. .1 3,935,047 2, 919, 5391,015,508 ! 466, 7411 548,767 295,9351 617, 2704,116,023 1, 941,527!l,589,791 38, 552' 546,153i 2,149, 297 3,739,088! 261,675 70,9 1,423 June 30.. J 4,009,954 2,950,86311,059,091 i 493,4141 565,677 372,892! 619,066 4,385,733 2,096, 774; 1,645, 284 22, 736: 620,939!2,287,485 3, 932, 769| 298,035 51,190| 1,422 Oct. 10.. J 4,220,466 3, 074, 9781,145,488 I 522,8741 622, 6141 400,150! 633,161 4,571,553 2,168.534!l,678,438 28,753i 695, 828 % 443,302 4,121. 740 308, 679 35,0941 1,419 Dec. 31.. „! 4,209,7253,031,120J1,178,605 | 523,3651 655,2401 365,987. 617,035 4, 630,437 2,238,495; 1,732,371 35, 548? 624,023|2,423,364| 4,155,735! 314,698 44, 245i 1,408 1925—Apr. 6— J 4,263,294 3,058,0621,205,232|l 532,802; 672,430 357,2151 630, 730j 4, 600,403 2,168, 798; 1, 761, 612 56,497; 613,4962,389,382i 4,150, 994J 312,949i 60,618| 1,407 June 30_, . 4,370,4473,181,23611,189, 211 j: 509, 219 679,9921 375,695| 630, 078! 4, 798, 702 2,324,424 1,833, 638 29, 852! 610, 788:2,480, S53;4, 314,491! 322, 224i 71, 238 1,404 Sept. 28.. .! 4,433,495 3, 245, 976)1,187, 519 496, 6731 690,846! 334.589! 626,355 4,742,329 2,300,409|l, 837, 642 31,319! 572, 959!2, 493, 037i4,330, 679 319,513! 66,770 1,408 Dec. 31.. -| 4,478,729 3, 276, 272 1,202,457 495, 2861 707,1711 341,102| 617,2'"8"9 4, 873, 893 2, 369, 67711, 881, 042 37, 088J 586,106J2, 535, 71914,416, 761 305,336| 93,857 1,398 I ! 1926—Apr. 12.. . 4,490,0623, 286,195 1, 203, 867 481, 677 722,190 337,713 629,089 4,831,961 2, 292,078 1,898,341 35, 324j 606, 218;2, 519, 704! 4,418,045 321,0711 80,919 1,379 June 30. _ J 4,579,409 3,374,232 1,205,177! 496, 670 708,5071 368,451 644,846 4, 957, 253 2, 388,376 1, 935, 044 20,975 612,85812,558,731 4,493,775 342,157 98,965! 1,366 Dec. 31.. ..! 4,542,539 3,388,470| 1,154,069 414,941 739,128; 333,944 653, 259 4, 887, 284 2,358, 79011, 935, 865 23,380 569, 249!2, 512,156 4,448,021 310,644; 108, 289j 1,335 i i 1927—Mar, 23.. . 4,589,9073, 328, 215 [ 1, 261, 692 493, 243 768,449 i 314,242 668,841 4, 844, 751 2, 273, 46411,932, 931 42,309! 596, 047! 2, 508, 605 4,441, 538 316,516 71,693! 1.319 w June 30.. ..i 4,711,934 3,460,58811,251,346 497, 669 753,677! 336,691 679,468 5,038, 300 2, 411,98212, 029, 289 23,968! 573,06112,587,617 4, 616, 906 310,885 68.414! 1,308 Oct. 10.. . 4,748,"" 3, 486, 4171, 262, 392 489, 950 772,442! 329,073 694,979 5, 092, 939 2,410, 072!2, 054, 586 42,100! 586,18112,612,648 4,667,234 339,688 34; 196! 1,300 Dec. 31.. ... 4,858,646 3,519,37311,339,273 503,452 835,821! 328,559 709,876 5, 212, 830 2,483,882J2,140, 008 24,823| 564,11712,642,263 4, 782, 271 348,638j 67,714! 1,290 t—( 1928—Feb. 28- . 4,849,2123,462,236! 1,386,976 542, 576 j 844,400| 318,925 713, 227 5,120, 664 2, 380, 803J2,138,482 7, 795| 593, 58412, 597, 111 4, 735, 593 335, 785; 63,815! 1,274 June 30.. -! 5,117,598 3,697,574 1,420,024 563, 600 856,424' 341,938 724,958 5,334, 624 2, 512,358 2, 275,300 18,278 528,68S!2,643,333 4,918, 633 330,451 164,798j 1,264 fed Oct. 3... .J 5,137,348 3,772,110| 1,365,238 559, 2991 805,939i 335,282; 748,0661 5,350,410 2, 502, 605 2, 256, 640 16,454 574, 71112,665,947 4, 922, 587 344, 880 132,964! 1,260 Dec. 31.. .J 5,162,585 3,812,187|1,350,398 535,597 814,8011 345,051; 755,061 5,458,419|2, 637, 746J2, 257,163 19,4211 544,089 2, 680, 742 4,937,905 343,073 163, 576| 1,252 a 1929—Mar. 27.. -i 5,072,146 3,776, 730J1,295,416 527, 261 768,155! 258,538! 774,650| 5,134,952!2,445,84112,117, 596 48,1J6: 523, 399 2, 610. 579 4, 728,175 340,3391201,0921 1,237 W ^ June 29.. J 5,052,312 3,792,1231,260,189 512,036 748,1531 327,786! 780,677! 5, 234, 017J2,535,149)2,147, 604i 38, 204 513,060 2, 622, 659 4, 770, 263 345,481j 142,555! 1,229 Oct. 4... ..; 5,116,56413,900,567 1,215,997 490,151 725,846 323,468! 792,854 5, 281, 54112, 572, 529|2,148, 220 35, 864 524, 928 2, 688,038 4,836, 258 353,366 146,8211 1,206 Dec. 31.. J 4,934,486|3,770,1011,164,385 408,055 756, 330J 330,241! 790, 510 5,140, 01212, 521,829|2, 076,814 18, 092 523, 277 2, 575, 778 4, 652, 592 331, 335 147,750| 1,186 3 1 1930—Mar. 27- 4,836,531 13,645,785! 1,190,746 466,433 724,313J 329,382! 796, 5005,029,77912,374,1212,0741,-,416; 21,446 559, 796 2, 569,630 4,644,046 344,344 43,807 1,156 S June30._ I 4,933,407 [3,682, 206! 1, 251,201 474,851 776,350 379,340 787,050 5,205, 262!2,439,984 2,157, I 17,219 590,513 2,595,960 4,753, 506 347,273 26,817 1,135 o Sept. 24.. i 4,966, 505 |3,642,179J1,324,326 837,637 409,499 798,872 5,193,191J2, 342,508 2,232*, 621 18,989 599,073 2,520, 233 4, 752,854 335,532 49,762 1,118 3 Dec. 31- | 4, 809,422 13,405,95611,403,466 538,463 865,003 427,163 780,602 5,148, 216|2, 381,814 2,134, 998! 40,767 590,637 2,491,270 4,626,268 361, 773 31,327 1,081 I! For footnotes, see p. 173. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 94,-—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1030—Continued ST. LOUIS DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments Total Loans i Total Inv s e U e s c . t u S m ri . e - n t | j s s O ec th u e ri r - i I i D b f a r u o n m k e s C s p v u u a r a i r n o p d p n d f i e l d i t i u t d a - s s l ^ , . Tota i l posits*: p T o d i s m e i - t e s ! j j I S U p t d o n a s i t e i t e t - e s s d I ! Due to , 6 d d e N e p m o e a s t i n t d s d de e t p p N m i l m o e u a s t e s n - it d s iR b e a s n e k rv s e; p c a r o R e a y u i d n a l d n i b I s s ts l - e ! ! ! ; b N b e a u r n o m f ks ties I ties i o 1922— Dec. 29. |1,118, 350| 802,437 315,913 153, 365 j 162,548 !2,4201 190,9851 1,166, 601 616,833; 340,447! 14,731 194, 675, 376j 1, 015, 823!69. 732: 37, 073; 608 1923—Apr. 3 J' 1,151,916(1 820,105 331,811 163, 357] 168,454 110,407 j 192, 375 i1,182, 334 620,410| 362,1861 13, 977; 185,761 685, 67811.047,8641 75,621! 34,084 618 June 30 .- 1,154,982 818,861 336,121 164,800 171, 321 90,164| 193, 78311,133, 448 597,800! 367,882 i 14,196 153,570 652,449 1,020,331! 68,782! 50,2201 621 Sept. 14 . 1,171,327 843,535 327,792 157, 718 170. 074 197,612 1,124, 062 595,760j 381,404 3,823' 143,075 640,4751 1,021, 879!65, 053| 70, 875 i 622 Dec. 31 . 1,182,166 852, 844 329, 322 153, 3251 175;997 102,964 194,054j 1,181,238 622,4331 384, 646 9,028 165,131; 663, 726! 1,048, 3721 70, 058 63,914! 624 1924—Mar. 3L. . 1,175,542 855,217 320, 325 139,818 180,507 87,826 196,445 1,152,961 408,703 9,417. 148, 007! 638,255; 1, 046, 958!68, 304 46, 967! 628 June 30.. .• 1,157,068 843,421 313, 647 130, 447 183,200 117,085 197,101 1,175,581 600, 7761 407, 587 5,945. 161,273 643,954j 1,051,541' 63, 3761 31, 4601 627 Oct. 10 _. -i 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 i75, 346! 36, 232' 625 Dec. 3U- _! 1,223,248 884,240 339, 008 133, 431 205,577 153, 630 196,176| 1,343,832 676,122! 431,261 13, 823 222,626 733,571; 1,164,832; SO, 758 j 13, 912: 624 1925- Apr. 6_._ . 1,246,141 890,838 355,303 148,704 206,599 133,538 198,8301 1,319,398 660,267! 434,778 26, 881 197,472 720,347! 1,155,125! 78,523; 17,531 624 J une 30.. . 1,227,649 877,430 350,219 129,769 220,450 117,784 198,454! 1,272,211: 647,306! 441, 922 7,621 175, 362 698,112| 1,140,034 73, 343 j 24,160 621 Sept. 28_. J 1,280,843 929,520 351,323 130, 817 220,506 126,163 198,054i 1,303,544! 650,955: 452, 819 10,168 189,602 708,163i 1,160,982 j75,114; 48,272 629 Dec. 31. . -I 1,309,595 950,498 359,097 136,193 222,904 127,239 197,4561 1,387,086 717,570 452,196 12, 590; 204, 730! 776,927; 1,229,123) 81,912! 28, 786 j 628 1926—Apr. 12.. -I 1/331,924 971,770 360,154 139,267 220, 887 114,311 203,567; 1,374,746 700,582l 479,134 16,123 178,907! 751,311 1,230,445 i82, 611 30,631) 622 June 30. . . 1,320,071 951,830 368,241 135,854 232,387 110. 096 202,920! 1,343,4301 684,784! 476, 569 9,865. 172, 212 740,5751 1,217,1441 76,904 i 35,107! 619 Dec. 31-. -i 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; S3,017[• 35,985! 1927—Mar. 23.. .I 1,331,123 932,548 398,5751 146, 861 251,714! 125, 568 207,018 1,381,426 668, 643| 513,973 14,205' 184, 605: 727,4711 .,241,444! 80,965; 18, 8091 602 June30_- . 1,336,751 930, 367 406,384! 148,543 257,841! 111,535 205,417 1,358,778' 670,557| 509,282 6,981! 171,958! 723,990 ,233,272! 77, 050! 38,453! 599 Oct. 10__ -I 1,358,406 948, 412 409,994| 146,142 263, 8521121,761 210,769! 1,416,481 694,111) 521,318 13,980 187, 072 748,984 ,270,302! 81,813! 20,272! 596 w Dec. 31_. -j 1,376,531 953, 365 423,166; 146, 241 276,9251 129,113 209,206' 1,451,096 715,913| 525, 641 8,885! 200, 657 775,833 .,301,4741 88, 517] 20, 877 594 1928— J F u e n b e . 3 2 0 8 _ . - . -I 1 1 , , 3 3 8 7 4 3 , , 3 4 2 4 2 1 9 9 3 4 5 2, , 2 7 2 7 1 9 4 4 4 3 2 7 , , 6 1 6 01 2 H ! 1 14 5 7 4 , , 2 6 9 5 8 1 2 29 8 4 3 , , 3 4 6 5 4 0 1 10 1 5 0 , , 7 3 2 8 6 1 1 2 2 0 0 8 9 , , 3 9 1 8 0 4 ! | 1 1 , , 3 4 6 1 7 2 , , 3 7 1 3 8 0 6 6 8 6 1 0 , , 2 2 4 0 9 1 5 5 3 4 7 3 , , 7 6 7 0 5 5 1 4 1, , 3 3 5 7 9 0 1 1 8 5 9 2 , , 1 3 5 3 3 6 7 69 4 9 7 , , 1 9 7 8 6 2 ! ] . . , , 2 2 8 4 5 2 , , 7 7 5 8 7 1 1 ! 8 7 2 8 , , 8 5 2 5 2 2 ! ' 2 6 8 4 , , 8 9 0 5 6 8 ) | 5 5 9 9 3 3 % Oct. 3-_. 1,400,512 972,723 427, 78911 149, 654 278,135 116,803 211,668 1,394,849 664, 964 544,774 5,517' 179, 594 712,637 ,257,411l 81,855* 70,1351 590 Dec. 31.- 1,405,799 954,105 451, 694; I 161,431 290,263 118,481 212, 829| 1,441,124 711, 206 537, 601 7, 549 184, 768 756, 987 ,294, £88! 84,641 39, 363j 587 1929— Mar. 27.. 1,377,349 944,686 432,6631! 159, 269 273,394 92,185 211,913| 1,337,019: 641,17.11 533, 554 5, 800= 153,490 690,134 1,223,688! 78, 333 58. 460! 585 June 29.. 1,341,452 93G, 071 404,781! 138, 777 26(5, 004 92, 388 202,977! 1,311,209 'J44, 882i 521,158 11, 250 133,919 675,256 1.196,414! 75,096; 58; 758' 580 Oct. 4-.. 1, 375, 210 983, 720 391,490)! 128, 907 •262, 583 118, 827 208, 527! 1,360,607- (.55, 332 535, 751 7,641 161,883 682,267; 1,218,018; 78, 256! 82,361; 572 Dec, 31.. 1,336,880 955.428 381, 452|I 114,777 266, 675 113,421 208/614| 1,380,297 689, 686 520,903 2,001 167, 707 723,267) 1,244,170; SO, 055 31, 967' 571 1930 Mar. 27 _ 1,315, ISylj929,387 385,802Jj 113,828 271,974 104,699 208,750J 1,329,386 635, 273 537, U0t> (3,749! 15U,358 680,0911 1,217,097 78,407; 18,986: 562 June 30.- 1,288,5771! 910,055 378,522,j 102,266 276,256 121, T 205,371! 1,324,788 639,427 525, 763; 7,159! 152, 439 669,377 1,195,140! 79,528! 24,937 552 Sept. 24— 1,288, 578 I899.433 389,1451 106, 049 283,096 124, 674 206, 705| 1,303,356 611, 537 534,976 4,61Qi 152, 233 644, 669 1,179, 645! 74,418! 28,759; 549 Dec. 31.- 1,153, 702 i787.429 366,273! 94, 265 272, 008 122, 559 187,928 1,210,785! 597, 571 470,353 4,3931 138,468; 616,2291 1,086,582! 69, 644 j 20, 755; 513 • Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

MINNEAPOLIS DISTRICT 1922—Dec. 29, . 884,167 694,312 189,8551 102,217 87.6381] 13,987' 140,995 923,070! 400,397 390,583' 9,002 123,088 427,4211 818,004! 49,024 38, 226! 1.000 1923 Apr. 3... 899,193 696,161 203, 032 111,028 92,004 108,539 135,421 944,127| 393,011 408,234 9,6111 133,271 440, 539| 848,773! 51,805> 31, 833 June 30.- 896,406 690, 681 205,725 114,761 90,964 97,236i 134,341 916, 088! 392,112 416, 088; 8, 394| 99, 494 411, 603 827,691; 46,937; 43.100 989 iSept. 14.. 888, 949' 684,105 204,844 112,993 91,851i 97,195i 134,939 913,062J 386,445 417, 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 "411Q3 ,OOftl 5,413| 107, 741 410,581 824,507; 46, 652J 26,978 940 1924—Mar. 31.. 853,424; 639,177 214,247 120, 890 93,357 i 106,3921 126, 691 913, 8531 386,117 404,271! 9,521 113,944 418, 757 823, 028! 46, 235J 17, 702 903 June 30.. 824,333? 610, 944 213, 389 ! 116, 699 96,690 123,7071 123, 376 909,020! 395, 763 403, 578! 5, 692! 103, 987 404, 538 808,116! 47, 410 18, 984 895 Oct. 10 __ 867, 582 629, 480 238,102 I 123,301: 114,8011 157,181! 125, 202 1, 005, 093! 422,371 412,826i 6, 9031 162, 993 465. 671 878,497' 53, 559 12,061 890 Dec. 31._ 906, 616' 630,474 276,142 143, 677' 132,465J 151, 229| 125, 050 1,044, 751 j 439, 041 430, 315! 6,321 169, 074 502; 738 933,053 55, 513; 6,384 885 1925-Apr. 6... 906, 691 611,861 294,830 149, 018 145,8121 122,753! 122,137 1, 016,127! 424, 363 441,834s 8, 5621 141,368 471, 763 913,597: 54,1721 5, 526! 872 J S u e n p e t. 3 2 0 8 _ _ _ . 8 8 8 9 8 5 , ,4 2 3 2 0 7 5 5 9 9 9 6 , , 4 8 7 9 4 8 2 29 9 5 1 , ,3 9 2 5 9 6 1 14 4 0 0 , , 9 7 6 9 1 2 1 15 5 5 0 , , 1 3 6 6 4 8 1 1 1 1 0 2 , , 1 9 9 1 0 3 1 1 11 2 8 0 , , 4 4 1 4 4 4 9 9 8 9 8 5 , , 7 4 4 6 3 3 4 4 3 2 0 6 , , 3 5 5 0 8 9 4 4 3 3 5 3 , , 9 2 0 8 6 1 1 1 8 5 , ,1 1 8 61 8! 1 1 1 2 7 7 , ,3 4 1 8 8 5 4 4 6 6 3 6, , 1 2 3 0 6 1 S 90 9 0 8 , , 0 4 4 8 2 2; 5 53 4 , , 1 7 7 8 5 9 7 7 , , 2 6 6 5 0 2 8 8 5 4 9 8 3 Dec. 31__ 893,181 586,117 307, 064 146,370 160, 694| 127,243 116,395 1, 011, 569 435, 382 437, 717! i 7,429 131,041 467,865 905, 5821 52,192 4, 6391 829 1926—Apr. 12. _ 889, 722 575, 372 314, 350 i 147, 729: 166,621 104,869 115, 870! 983,324! 420,472 438,964 j 9,499 114, 389 450,935 53, 592 5, 6701 817 June 30_. 880, 562 567, 763 312. 799 142, 334 170, 465 101, 544 114, 627| 965, 833 419,864 435,449! 6,009! 104, 511 444,447 879,896! 48, 457 5, 226; 804 w Dec. 31.. 861,998 554,196 307,802 133,351: 174, 451 116, 230 114, 625 j 962, 635 406, 037 435,897! 4, 667; 116, 034 432, 083 867, 980! 50, 606 5,277; 764 ! 1927—Mar. 23.. 862,142 540, 495 321, 64711 134, 337! 187,310 99,188 113,260i' 938,043! 389,382 430,377J 7,272 ]ll,012J 425, 526| 855,903; 50, 717 6, 838: 743 June 30.. 851, 382 531,054 320, 328 129,820 190, 508 105, 616 112, 3671 940, 303 i 401,123 434, 987; 5,6931 98, 500 417,583 852, 570! 47, 781 5,066i 740 Oct. 10.. 881,950 552, 992 328, 958 i 131,275 197, 683 140,198 115,882 1,016,515! 444, 405 435,139; 5, 4211 131, 550 468.971! 904,110! 51, 261 3,428 742 Dec. 31. - 896, 998 547,075 349, 923 ! 137, 006 212,917 127, 025| 115,323| 1,011, 277[ 428, 942|i 451, 6071 5, 7431 124,985 460', 0371 911, 644! 54, 217 2, 654 j 735 j 1928—Feb. 28.. 904, 662 544, 744 359,918 137,347 222, 571 114, 5591 115,5081 l,001,684| 416, 759! 460, 308! 3,274! 121, 343 454, 430! 914,738 53, 499 3,847! 731 June 30_. 908, 660 543, 940 364, 720 136, 480 228, 240 110, 549j 115, 966 996. 752j 427, 884 461, 3631 5, 578! 101,927 446, 544i 907,9071 53, 926 8, 290i 728 O De c c t . . 3 3 . 1 . . . . 9 9 3 2 2 7 , , 8 98 5 6 2 5 5 6 5 0 7 , , 0 5 4 2 3 2 3 3 7 7 0 2 , , 8 4 0 6 9 4 j 1 1 4 4 6 6 , , 7 5 2 7 9 9 f : 2 2 2 2 6 3 , , 2 7 3 3 0 5 1 1 1 2 6 1 , ,4 7 3 7 8 5 1 11 1 7 6 ; .5 9 9 71 2 1 1 1 , , 0 0 3 4 7 2 , , 2 1 9 4 0 8 1 j 4 4 4 4 4 3 , , 8 5 0 1 5 2 4 4 6 8 8 0 , ,0 5 5 0 4 9 4 5 , , 5 5 7 5 9 0 ; ; 1 1 1 1 9 2 , ,7 6 3 9 9 0 ! ! 4 4 7 6 2 5 , , 2 4 0 0 4 2 1 ! 9 94 4 5 0 , ,7 4 1 5 3 6 ; ! 5 5 5 5 , , 4 3 6 2 7 3 1 5 3 , . 9 2 5 7 1 9 i 7 71 2 9 2 1929—Mar. 27.. 937, 754 563, 858 373, 896 149,447 224,449 88,927 117, 676! 996, 573 416,153 470,838 6,903! 102,679J 451, 6011 922,439! 54,923 15.101 i 712 June 29 __ 922, 693 558, 567 364,126 i 147,348 216, 778102,036 116, 316| 994,146 426, 529 470,4251 7, 379! 89,813! 438, 587! 909, 012! 50, 219 12, 330; 700 Oct. 4 957, 073 597, 307 359, 766 I 141,868 217,898 108.813 119, 666 j 1,010,088 441,676 458, 620! 5, 790! 104,002! 457,337 j 915, 957: 50,044 39, 816! 689 Dec. 31. _ 910, 924 563, 0241 347,900 I 134,771 213,129 105,999 119,8711 995,051 432,555| 457,9321 1,967| 102, 597 j- 453,015! 910,947! 56,998 12, 253! 683 ! 1930 Mar. 27- 896,183 548,4341 347,749 130,824 216,925 97,257 119,366! 963, 362 404,277 456,978! 3, 404; 98, 703 431, 730! 888, 708! 50,249 2, 785: 671 June 30.. 870, 411 516, 070! 354, 341 134, 289 220,052 i 131,558 118,417 977,386 424,017 449,190j 2,400 101,779! 426, 699J 875,889; 4,641 664 Sept. 24... 872, 344 514, 557 357, 787 130, 712 227,075 141,755 120. 209; 982,035 417, 526! 455,760! 2, 239 106, 510! 425, 680| 881,440: 49,4331 4, 785, 657 3 Dec. 31.. 851,130 494, 52" 356, 603 122, 434 234,169 142,016 117, 727 i 968, 307 401, 002 459, 853; 2, 480 104, 972; 397, 715! 857, 568j 48,364 j 4.868: 642 I For footnotes, see p, 173. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 94.—ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930-—Continued KANSAS CITY DISTRICT [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] Loans and investments I Call date Total Loans ! Total Inv s e U e s c . t m u S ri e . - nts s O ec th u e ri r - b f a D r n o u k m e s' p v u r a o i n d n f d i e d t i s d - » de T p o o t s a i l ts D p e o d m s e i a t - s n 4 d ! ! ! po T d s i i m e ts - e * ! ! U S n ta i t t e e s d I j Due to d de e N p m o e a s t n it d s I | j ! d d e e t p m i p l m o u a s s e n i d ts R e b s r w e F a e a s e r n l i e t d v k r r h - e v e s - e; p c r a B o e a y u d n i a l d n i l b s s t - l s e, ! ! N b b e a u r n m o k f - s ties ties 1922—Dec. 29 1,115,378 866,655 248, 72311 148,269! 100,454 206,544 179,4371 1,288,845 751,291' 273,0401 12,542j 251,972! 803,2041 1, 076, 244 81,143 35,840 1,142 no 1923—Apr. 3 1,133,839 876, 757 257,082 i 158, 559' 98, 523 202.278 i 174.377! 1,309.043 759.627; 285, 648j 12,864 250,904 823,9861 1,109,634 85,040 32,564 1,145 June 30 1,145,159 886,108 259,05111 160, 367 98, 684 173,949 172, 90S! 1, 259,218 736,154 300,687! 9,209! 213,168 787,834! "., 088,52181,198! 58,649 1,145 Sept. 14 1,127,800 872,614 255,186!! 157,510, 97, 676 172,014 173,860! 1,256,380 735,072: 299, 566 6,652! 215,090 786, 720 ,086,286 82,152 48.862 1.142 Dec. 31 1,096,091 849,063 247,02811 141,17l! 105,857 179.835 165,727! 1,234,717 722,247' 291,930! 6,764; 213, 776 759, 435; , 051,365 76, 579| 53, 396 1,122 1924—Mar. 31 1,056,702 822,704 233,998 i' 135, 584; 98/414 168, 733 165,666 1,197, 704 694, 796.' 293,8501 8,404 200,654 745,699 , 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 j 708,368j 298,607! 6,504 215,477 747,807 , 046,414 78,241 22,815 1,087 w Oct. 10 1,057, 681 795,133 262, 548 ! 147,575' 114,973' 306,566 163,859 1,381,434 745,421 297, 288| 7,665 331,060 812,291 , 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, 441,426 779,782j 295,985! 6,538 359,121 876,091 , 172,076 93,892; 6.256 1,066 1925—Apr. 6 1,115,184 811,588! 303, 5961 i 133, 6981240.836 159,361 1, 387,051 772,474 j 305,237! 13,561 295, 779 868,714 ,173,951 89,453! 6, 959i 1,056 June 30 1,114,620 804,929| 309,691M 173, 670 136,021 231,461 159,643 1. 384, 705 793,938! 312,102 7,120 271,5451 863,783 , 175,885 91,446! 8, 753! 1,048 Sept. 28 1,135,728 817, 277i 318,45l! 177,337! 141,1141 197,240 158, HSi 1, 364, 381 795, 356i 309, 748i 7,965 251,312 871, 428 , 181,176 87, 775! 10,896 1,038 Dec. 31 1,131,484 804,9481 326,536;! 181, 677| 144,859! 229,406 154,037: 1,408, 528 836, 7321 294, 962! 8,330 268,504 891,887 :, 186,84992,986; 16,858; 1,027 1926—Apr. 12. 1,137,826 794,2261 343,600! 198,072J 145,528 188,641 156,055 1. 349, 052 794, 59oi 315,685| 15,808 222,969 845,448 , 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, 656 818,4301 323,494 11, 509 238,223 871,245 , 194, 739 88,973 16,503 1,011 Dec. 31 1,135,968 777,411 358, 557;| 182,962J 175,595 218,763 152,3891 1,403,513 822, 221! 317,771! 7,856 255, 665 874, 880 , 192,651 86,1021 7,387! 992 1927—Mar. 23 1,159,449 786,494 372,955 I 194,040! 178,915| 199,661 156,146! 1,387,912 800,740! 330, 719! 10,033 246,420 872,9601 ,203, 679 89,173; 11, 579i 984 June 30 1,153, 509 776,100 377,409 183, 255! 194,1541 200,021 155,302! 1,394,004 819,882! 331,110! 7,038 235, 9741 868,642! , 199, 752 90. 771 i 11,892 972 H Oct. 10 1,167,923 776,398! 391, 525 183, 435j 208,090 206,774 158,872! 1,407,018! 815,969] 340,449! 9,844 240,756 869,300 , 209, 749 86,813; 14,757 972 w Dec. 31 : 1,191,491 783, 062J 408,429 183, 534 j 224,895 223,608 156,841! 1,456,3381 837, 111 338,815| 8,718| 271,694| 907,363 , 246,178;95, 3361 10, 292 968 1928—Feb. 28 1,196, 758 787,4191 409, 339 ! 189,019| 220,320 217,308 158,370 1,447, 630! 814,687| 355,4641 5,219 272, 260! 885,470 ,240,934! 92, 1381 9, 773 961 <I June 30 1,224,395 788, 794) 435,601 ; 241,643 194,403 157,315; 1,438,933! 826,745 j 372,402! 8,531 231, 255! , 258, 592!94,149! 19,468 945 Oct. 3 i 1,241,707 806,155 435, 552j! 206,458! 229,094 220,264 161, 046! 1,496,063 j 846,154) 374,313! 7,737 267,859 i , , 281, l«5i94,2861 20, 613 941 Dec. 31. ! 1,250,019 802, 632 447,387! 212,331| 235,056 224,876j 160,297; 1,505,060; 866,873! 364, 5991 9,926 263, 662! 906, 882 , 281, 292j 90,950! 22,443 932 W 1929—Mar. 27 ! 1,242,207 799, 5031 442, 704, 214, 282; 228,422 185,640J 163, 738! 1,438, 225J 828,825J 372, 899! 9,137 227, 3641 9 87 1 8 6 , ,6 5 9 1 3 7| , 251, 416192, 6211 22,953 919 O June 29 1,240,550 810,223 j 430, 327! 202,027! 228,300 186,1151 160, 730 1,420,108 826,186j 372, 520! 8,062 213, 340! 863, 6481 ,236,168! 90,758: 39,240 912 j> Oct. 4 1,246,554 822, 513 424,041! I 198,413! 225,628 195,334i 163,646 1,439,112! 824,185: 370, 918! 6,692 237, 317 <869, 009 i ,239,9871 90,027! 45, 382 902 Dec. 31 1,211,892 804,011! 407, 8811; 180,676 227, 205 209, 416 162,374 l,428,618i 836,911* 350, 359| 3,179 238,169! 873, 653| ,224,012! 87, 748i 34,690 893 1930—Mar. 27 1,164,! 768, 724: 396,274!) 174,125; 222,149 203,621! 166,347 1,373,117 785,830^ 364, 428! 5,255! 217,604: 827,546 j ,191,974! 88,980 12,958| 1,151, 266 749.875 401,391!! 172,654 228,737 253,877! 164,616 1,413,945! 804,008i 377,995! 4, 550 227,392 825,0101 ., 203, 005!91 731; 12,80tij Sept. 24.. 1,160,338 741,322! 419,0161: 173,047 245,969 285,269 167,780 1,446,613 398,0471 4,885 254, 7781 809, 735! , 207, 781':87,649! 9, 345! Dec. 3K 1,147,050 716, 688 430,362, 172,848: 257,514 232,075 165,065 1,384,900 781;623: 372,1251 4, 306i 226, 846; 801,709 ,173,834! S8, 29S! 16, 455! Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DALLAS DISTRICT 1922—Dec. 29 749,295 | 609,481! 139, S14j| 111, 502| 28,312 130, 690J 161,749 816,2161 553,220 120,460| 14,648 127,888 573,351 693,811 54,457 20,000 855 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 j 106, 312 557,673 691,4491 51,077 26, 335 June 30.. 745,119 601,128 143,991 ii 117,288 26,703 81,491! 158, 084 719,951! 500,307; 136, 750! 8,2781 74, 616 505,926' 642, 676 48, 288| 47,065 857 Sept. 14.. 780, 557 636, 701 143,8561| 112,706 31,150 129,188! 159, 606 818,915 550,485l 137,250 5, 886! 125,294 562,566 699,816 52, 759 54,754 858 Dec. 31.. 810,155 648.797 161,358! i 126,154 j 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, 535J 157,950| 836,043| 555,706 149,971 13,192! 117,174 578,018 727,989 52,319 16,782 835 June 30.. 732,301 596, 881 135,420; j 103,975 31, 445 105,145j 156,502| 768,294 517,041 152,454 6,452 92,34' 524,251 676,705 49,293 24,316 837 Oct. 10._ 765,113 625,135 139,978: 101, 834 38,144 198,3611 159,418| 931,7251 590,447! 154,713 9,084 177,481 762,804 55, 895 15,168 838 Dec. 31 _. 789,329 645,115 144,214i! 100,578 43, 636] 214,390| 153,452! 1,004,243 637,826 150,856 6,332 209,179 683,038 833,894] 65,70S 6,094 828 1925- -Apr. 6... 812,534 650, 719 161,8151 120,2841 41,531 179, 81l| 160,130 966, 613! 616,774 163,632 16,230 j 169,977 658,243^ 821, 875J 62,061 3,721] 824 .Tune 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, 4101 57,174 12, 684! 847 Sept. 28.. 821,844 664,1451 157, 699 :j 113,439! 44,260 163,817! 161,567 951,509 612,231: 164, 640 13,917i 160, 721 642,249! 806,889 59,010 15,926 854 Dec. 31.. 830,918 667,782J 163,136 114, 026] 49,110 152,668! 156, 760 980,534 649, 6721 158, 382 14, 0651 158, 415 680, 728! 839,110 66, 062 5,878[ 852 ! 1926—Apr. 12.. 831,859 667,758 164, lOl! 119,757] 44, 344 135, 3431 165,120 929,1711 623,1121 169,465 12, 496J 124,098 636,496! 805,961! 58,172 12,220 850 J D u e n c. e 3 3 0 1 . . . . 8 8 0 0 7 7 , ,2 69 9 7 1 | I 6 64 5 9 1 , ,5 7 8 5 3 7 1 15 5 7 5 , ,7 9 0 4 8 0 ; 1 1 1 0 3 5 , ,14 32 5 3 1 | 4 5 4 0 , ,5 6 6 1 3 7 1 1 2 4 1 6 , ,4 0 0 89 3 j 1 1 6 5 2 8 , , 4 5 9 6 5 2 9 8 4 7 0 1, , 4 3 7 7 9 0 5 6 9 3 0 1 , ,3 3 8 3 2 5 1 1 1 1 6 6 3 0 , , 8 3 9 7 7 7 7 8 , ,5 3 7 72 l! 1 1 0 4 9 0 , , 8 0 7 4 5 0 5 6 9 4 9 1 , , 0 9 6 1 4 3 1 8 7 0 6 2 2 , , 2 9 9 61 0 | j 5 6 7 4 , , 3 4 4 2 2 3 25 9 , , 7 3 2 5 1 9 8 82 4 7 3 W ! 1927- -Mar. 23.. 841, 697 ! 668, 338 173, 359! 123, 319' 50, 040 143, 791! 162, 710 948, 3451 624, 466J 175, 663 15, 049! 133,167 647,887 j 823.550j 62, 783 7,829 817 June 30.. 830, 856 I 654, 072 176, 784 121, 634! 55,150 130, 524| 161, 355! 918,194j 608,564! 180,830 10,972 i 117,828 623,023 803, 853 62, 028 11,513 815 Oct. 10... 876, 888 688,449 188, 439 126,4391 62, 000 168,244! 165,245 1,024,493 663, 643! 182, 373 15, 8231 162, 654 689,9881 872, 361 65,538 8, 725 816 Dec. 31,. 898,228 694, 344 203, 884 131, 898; 71,"" 170, 7321 160,040 1,068,016 699,1611 184,032 13,789' 171,034 732,147j 916,179 73,133 1,404 799 I 1928—Feb. 28.. 904, 469 701,202 203,267 136,835! 66, 432 152,3111 163,2571 1,027,194 683,85l| 195,227 s 4,122! 143,994 712,409 907,6361 67,861 4,156 June30__ 915, 653 691,939' 223, 714 149,822! 73,892 129,968! 163,982] 1,005,100 654,947| 212, 836! 17,2631 120,054 665,916 878,752! 65,532 11,480 791 Oct. 3___ 960, 054| 725,4851 234,569 156,541! 78,028 161,291' 166,562 1,081,380! 695,270! 214, 6651 9,463! 161,9821 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| 1,154,849j 743, 439 j 222,906| 22,190| 166,314 762,961 985, 867| i 73, 685 11, 648J 780 o 1929— Mar. 27.. 999,532 730,030; 269,502 190,314 79,188 129,928 172,087 1,084,798| 700,8061 236, 512 26, 324j 121,156 711,313 947,825! 69,381 13, 093 765 June 29.. 956,940 705,445 251,495 169,494 82,001 118,279 173,588 1,012,170! 653,847! 237,444 19,902 100,977 652,702 890,146| 63,680 19, 658 766 Oct. 4... 987,088 748,767 238,321 153,066 85, 255 148, 091 176, 344 1,073,331 680,780! 231,867! 22,154i 138, 530 701,941 933,808! 65,999 34,666 761 Dec. 31.. 936,158 713, 786; 222, 372 131, 631 90, 741 148,127 171, 564 1,048,407 677,733 224,511; 11,150 135,013 675, 238 899, 749 65, 016 16, 502 746 ) 1930—Mar. 27... 907,193! 637,836J 219, 35711 137, 074 82,283 141,676 172,495', 994,946 626, 007 233,998 19,220i 115,721 630,952 864,950 65, 343 7,815 722 $ J S u e n p e t. 3 2 0 4 .. - 8 86 6 8 9 , , 0 7 8 0 9 2 ; ! ! | 6 64 5 « 2 , , 8 4 7 57 3 ! ! 22 2 11 1 88 6 ,. ,9 fU 1 2 9! 1 12 2 7 9 , ,2 3 0 3 0 7 8 89 9 , ,4 5 3 8 2 2 1 16 9 9 0 , ,4 7 8 4 8 3 1 17 7 1 3 , , 5 8 5 1 6 6 1 ! 9 9 9 8 2 2 , , 9 4 5 1 1 5 6 5 1 9 0 3 , , 9 9 3 1 4 3 2 2 4 3 1 5 , , 2 7 0 6 7 5 2 1 0 4 , ,6 4 5 6 4 3 ! 1 1 1 4 5 2 , , 6 8 2 0 0 5 6 5 0 9 9 9 , , 6 02 8 3 5 ! ! 8 83 5 4 0 , ,8 7 9 8 2 8 5 62 9 , ,7 5 4 9 4 4 1 1 3 7 , , 8 2 7 0 9 2 7 7 1 1 9 6 a Dec.31.. 822,436 ! 600,957j 221,479j 117,699 103,780 184,127 165,944! 961,727 573,135i 233,608! 13,574 143,410| 573,978 •807,586 58,104 5,958 684 1 For footnotes, see p. 173. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 94.- -ALL MEMBER BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON CALL DATES, 1922-1930—Continued 00 SAN FRANCISCO DISTRICT to [In thousands of dollars. For back figures see Annual Report for 1927, Table 86] is and investments Reserve Hills Investments Due surplus, Total Net i demand j payable) Num- Call date Total Loans l *> Total s U ec . u S r . i- s O ec th u e ri r - b f a ro n m k s2 i : ! p u v r n i o d d f e i i d t - s3 deposits po d s e i - ts s posits b ba a n n k k s s' deposits de p t p i l m o u s s e its I : e b r s a a e l n r v r k e e s - c r o e a u d n n i d s t - s b b a er n k o s f ties ties g 1922—Dec. 29 2. 127f852| 1,554, 357 573,495 309,218 264,277 209,604! 301,2381 2,314,4361,134,216 930,404 25,426 224,3901,150,211 2,080,615 135, 731 47,290 820 1923-Apr. 3 2. -Jr»2. 529 ll, *i(>l, 246 601, 283 333,722 267,561:198,523! 298,60712,417,146 1,172,488 1,009, 967 28,214 206,4771,181, 769,2.191, 736 140, 735 66,497 806 June 30 2, :m, 250 11,7:19, 729 591, 521 319, 410 272,111 186, 813! 299,104 2,467, 693 1,236, 709 1,007,863 27, 270 195,851 1,241,877 2,249, 740 145,844 82,929 803 Sept. 14 2,1:91,651 '1,731,7181 559,933 I 301,289 258,644 210,971! 304,972,2^,,'4iu51i,, u5a9i1j1-,^2in4j3i,tJ4A92 9~8~0,~42 6"1"3, 313 214,360 1,244, 013 2, 224,439 147, 212 93,687 804 Dee. 31 2,247,952 1,686,175 561, 777: j 289, 266 272,511 206,645! 292,91912,488, 541 1,237, 580 1, 032, 364 22,007 196, 590 1,223, 234 2,255, 598 145, 714], 47, 395 802 1924—Mar. 31. 2, 317, 292 11,739,015' 577, 677 302, 675 275, 002189, 796' 313,857'2,485,894,1,2391,,279 11, 024,132' 25, 643 196,840 1,242,162! 2,266, 294, 142,176J 59,027! 785 June 30. 2,290,222 1,721,530 574,692 298,587j 276,105 213,363 312, 64412,530,478,1,209I,, 388 L1, 093, 320! 12,243 215,527!1,217, 75l! 2,311,071 145, 385! 33, 220 776 Oct. 10.. 2, 355, 433 1, 728, 349 627,084] 336,531 290,553 321, 506; 323,46012,710,6511,266, 2411L;, 122,197} 29,017 293,1961,294, 598J 2,416, 795 158,081i 17, 700 774 Dec. 31 2,444,0381, 766,978; 677,060, 361, 300! 315, 760274, 380 318, 247j2, 789,156J1,289I,, 381 L1, 202, 911118,441 278,423:1,309,245 2, 512,156} 164, 529' 18,818 1925—Apr. 6... 2, 507, 708:1,815,310 692, 398 !J 372, 486! 319,912 226,571! 320, 789;2,760,630|l,249,785 1.,, 246,185| 29, 749 234,911 1,267, 396 2,513,58l| 153,194! 28, 613 749 June 30.. 2, 545,159!1,847,940 697,219! 374,161; 323,058 223,855' 321, 81312,804,68211,268,6941,286, 613j 12, 225 237,1501,276,64.2! 2, 563, 255 154, 521' 39,5111 751 Sept. 28.. 2, 607, 78111,886,381; 721,400^ 390,497! 330,903 240,799; 324, 44112, 851, 55911,269/3 9"0 "I.,, 307, 324 26,407 248,438 !l,298,8841 2, 606, 208 156, 641 57, 972| 749 Dec. 31.. 2, 668, 572 1.936, 858! 731,714J| 386, 3951 345,319 246,305! 319,792 3,006,607 1,366,8P•6 1., 342,867 34,005 262,859;!,365,162 2, 708,029j 168,461 26,959 740 1926—Apr. 12.. 2, 677, 238;1,939, 856! 737, 382; 383, 784 i353,598 226,665! 320,376!2,944,97411300, 755 1367,987 34, 676 241, 556! 1,320,467 2, 688,454 156, 830| 46,473! 724 June 30.. 2, 687, 5S3i1,951,713 735,870! 377,996J 357,874 232,588! 324,646!2,977,76111.302, 567 I]392, 22o! 20,908 262. 06111,327, 266! 2, 719. 491 162,902! 38,139 725 Dec. 31.. 2,842,494 2,066, 559! 775,935 367,400J 408,535 245,121 j337,894!3,169,415 I!379,68] , 482,196 20, 636 286J902J1,391, 564! 2, 873, 760 167,180] 41,969 721 1927—Mar. 23_. 2, 938,375! 2, USS,, 265) 820,110 400,119 419,991 210,075 352,69413,157,199 1,296, 034 1,,574, 727 43,816 242,622; 1,311,191 2,885,918J 176,406 58,287 682 June 30.. 2, 960,51112,133, 903 826,608 I 406,685 419,923 230,367 352, 233!3, 236, 603 1359,714 ',584. 708 29,325 262, 856ll,372,8101 2,957, 5181 164,024 40,650 672 Oct. 10. 2,987,16912,123, 6721 863,497 430,249 433,248; 245,597 365, 257 \ 259, 281 ' 378,160 1., 582,871 35, 729 262, 521 !l,400,997' 2,983,8681 167,490 51,974 669 Dec. 31. - 3, 083,880| 2,140,842j 943,038 486,094 456,944; 264,224 368,477|3, 398, 959 1,431, 619; l\652,980 28, 478; 285,882| 1,449,3211 3,102,3011 188,083! 7, 111; 658 1928—Feb. 28. _ 3,064,10l! 2,079,156; 984, 945 521,495 463, 450;237,807 360,02113,266,186 1375,6021, 619,138!10,356 261,0901,394, 392!3,013,530 171, 724! 57,1001 649 June 30.. 3,149,081 i2,143,756| 1,005, 325 515,092 490, 233i232,181 410,852 3,411,761 1394,250-1.,711,891! 53,130' 252,490 1,420, 73313,132,624 180, 625! 19,416 641 2 Oct. 3... 3, 200,375!2,165,34011,035,035 535, 558 499,477 i253,477 417, 6063,411, 204 1.440,865! 1.. 688,837!21,183! 260,319 1,440,1131 3,128,950| 183,393 77,099; 644 Dec. 31. _ 3,168,538 2,108,74311,059, 795 574,015 485, 780258,486 409,169 3,454, 61111.453,096 ili, 695,404 51,916; 254,1951,419,429 3,114,833? 182, 5561 38, 973; 627 iy29—Mar. 27_. 3,113, 045 2,070,615 1,042, 430 580, 376 462,0541 222, 817 424,328: 3, 247, 658|l.329,832 1.657,806 33, 982- 226, 038!l,330,197! 2,988,003! 173,713! 76, 372^ 618 Jun.e29_. 3,105, 42.' 2,098,71511,006, 710 539,054 467, 656 252, 551 432,876: 3,316,75011,316,308 1,709,9931 41, 570! 248,87911,310, 842! 3,020,835! 170,193: 42,284! 617 Oct. 4... 3, 132. (397 2,191,79l! 940, 906 513, 475 427, 431 227,817 434,960! 3, 239,431 ll,351,441iL635, 920| 28, 942| 223,128 !l,341,126! 2, 977,046 176, 050 105,153; 616 Dec. 31-. 3,192, 234 2,239,1181 953,116 495, 447 457,669| 315, 369 440, 929! 3,537,14711.434,7991;790,471; 21, 625 290.252J1,380, 93513,171, 406| 175,681 43, 974! 607 1930 —Mar. 27.. 3, J20, 61112, 146,7731 979, 846 522, 424 457,4221 233, 026 445, 29s! 3,283. 515|l 241,738 a, 739, 074 30, 394 272, 259 1, 286, 289i 3, 025. 363 178,314 13,842i 601 Juno 30. . 3, 109, 4;j,6|2, 108, S62! 1,000, 574 508,40a 492,1711 319, 718 443, 075! 3, 420, 23011268,81211.764, 635 22,195 364, 588 1, 321, 678; 3, 086, 313 191, 479 11, 653; 599 Sept. 24_. 3, 115, 61J 2, 123,875! 991, 736 494.299 497,437 511,516 447, 818! 3, 347, 695 1.229, ]66|1., 739, 916 14, 924 363, 689 1,291, 084] 3, 031, 000 169, 291: 10,126 592 Dec. 31.- 3,246,320 2,217,84811,028,472 467,007 561,465 325,462 443,0331 3, 593, 350 1,300,6411,933, 428 30, 570 328, 7111, 303, 852j 3, 237, 280 182,435! 18, 724 581 For footnotes, see p. 173. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

183 ALL MEMBER BANKS IN EACH DISTRICT No. 95.—ALL MEMBER BANKS—NET DEMAND AND TIME DEPOSITS, BY MONTHS [Average of daily figures. In millions of dollars] Netdile- Net de- mand Net demand Triime ' plus mand Time deposits i time depositsdeposits jdeposits Boston district New York district Philadelphia district January... 2,345 1,394 951 10,321 7,080 3,241 2,225 1,145 1,080 February. 2,297 1,342 956 10,031 6,821 3,210 2,227 1,130 1,097 March 2,295 1,334 961 10,212 6,912 3,300 2,241 1,136 1,106 April 2,332 1,363 970 10,421 7,067 3,355 2,259 1,147 1,112 May 2,312 1,312 970 10, 523 7,134 3,389 2,258 1,137 1,121 June 2,329 1,340 988 10, 758 7,305 3,454 2,293 1,164 1,129 July 2,370 1,366 1,004 10,691 7,247 3,444 2,321 1,175 1,145 August 2,348 1,335 1,014 10,695 7,262 3,434 2,338 1,177 1,161 September 2,359 1,334 1,025 10, 687 7,241 3,446 2,343 1,176 1,167 October. __ 2,382 1,353 1,029 10,853 7,344 3,509 2,358 1,173 1,185 November. 2,397 1,385 1,013 11,012 7,535 3,477 2,355 1,159 1,196 December- 2,308 1,295 1,013 10,708 7,478 3,231 2,357 1,178 1,179 Cleveland district Richmond district Atlanta district January... 3,096 1,473 1,623 1,131 569 562 1,004 571 434 February.. 3,107 1,471 1,636 1,123 559 564 1,018 575 443 March 3,141 1,486 1,656 1,096 546 550 1,013 570 443 April 3,174 1,509 1,666 1,098 543 554 1,004i 564 440 May 3,184 1,520 1,663 1,091 535 556 1,000 550 450 June 3,233 1,563 1,670 1,083 524 559 966 519 447 July 3,299 1,616 1,683 1,084 526 558 954 513 440 August 3,318 1,617 1,701 1,090 528 562 943 504 439 September 3,333 1,612 1,720 1,096 530 566 952 511 441 October.. _ 3,263 1,556 1, 707 1,098 531 567 949 511 438 November 3,222 1,524 1,698 1,097 533 564 947 512 435 December. 3,167 1,497 1, 670 1,057 517 540 913 499 414 Chicago district St. Louis district Minneapolis district January... 4,588 2,535 2,053 1,236 699 537 879 433 446 February. 4,543 2,494 2,049 1,213 682 531 880 423 457 March 4,618 2,553 2.065 1,217 681 536 889 434 455 April 4,679 2,604 2,076 1,220 685 535 884 428 455 May 4,696 2,604 2,092 1,208 676 532 874 423 451 June 4,713 2,599 2,114 1,189 668 521 882 433 449 July 4,806 2,590 2,216 1,193 659 533 867 420 447 August 4,773 2,574 2,200 1,191 653 538 860 413 448 September 4,765 2,543 2,221 1,186 649 537 871 423 449 October... 4,721 2,506 2,214 1,171 635 536 884 428 456 November. 4,723 2,521 2,202 1,130 614 516 891 432 459 December. 4,656 2,497 2,159 1,070 595 476 878 415 Kansas City district Dallas district San Francisco district January- 1,204 850 354 885 659 225 3,067 1,312 j 1,756 February. 1,192 833 359 888 655 233 3,012 1,277 1,735 March 1,204 842 361 869 640 229 2,997 1,257 1,740 April _ 1,193 831 362 867 630 237 3,027 1,283 1,744 May 1,197 829 368 865 623 241 3,019 1,269 1,750 June 1,189 821 369 847 603 244 3,023 1,274 1,748 July 1,207 829 378 833 592 241 3,039 1,287 1,753 August 1,200 823 376 820 579 241 3,003 1,281 1,722 September 1,211 817 394 830 593 238 3,011 1,278 1,733 October... 1,203 820 383 831 593 238 3,014 1,276 1,738 November. 1,185 802 383 828 589 239 3,226 1,352 1,874 December. 1,164 786 377 810 575 235 3,227 1,329 1,898 Back figures.—See Annual Reports for 1929 (Table 89), 1928 (Table 93), and 1927 (Table 87). 3345^-31 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

184 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 96.—ALL MEMBER BANKS—RESERVE BALANCES, BY MONTHS, 1927-193D [Monthly averages of daily figures. In millions of dollars] Federal Reserve District Month Boston 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 -! i 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 i a a t n s y - I Dallas F S ra a n n * 1927 January __. 146.1 139.0 178.6 i 70.1 70.5 324.6 81.4 50.6 60.7 168.1 February 144.5 838.3 136.7 179.9 i 69.4 69.8 324.6 81.2 49.2 $9.1 62.4 167.1 March 144.1 856.6 136.9 185.7 ! 68.9 69.5 325.1 81.4 50.3 62.2 169.7 April 145.6 863.3 137.4 184.7 ! 68.3 69.4 328.0 81.6 48.9 1.0 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 1928 January 155.9 957.9 141.7 188.9 i 73.8 70.7 352.1 86.1 53.3 92.1 68. S 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 I 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 69.1 348.1 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. & 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 I 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 I 923.4 134.5 183.4 69.6 67.5 353.0 83.4 55.1 93.0 72.2 183.2 1929 January 150.5 936,. 3 137. 2 187.0 69.7 67.2 354.3 84. 2 53.9 93.9 71.8 180.7 February 146. 7 928. 5 133.5 185.7 68.6 67.6 352.8 82. 9 52. 5 91.9 70.7 176.0 March 144. 3 924.6 133.4 185.6 67.6 67.7 346.5 78. 7 53.1 91.8 70.0 173.1 April 144.1 j 915. 2 133.2 183.4 67.2 66.2 341.6 77.8 51.6 89.2 66.8 171.7 May 141.9 I 914.7 133.8 184.1 65.6 64.5 340.8 76.6 50. 2 87.5 65.1 171.6 June 142.4 931.9 134. 7 I 184. 2 65.5 63.4 341.0 75.9 51.3 | 88.6 63.3 172.0 July.. ! 147.6 930.9 135. 3 187. 2 65.7 61.9 347.2 77.0 52.4 92.0 62.5 173.9 August 146.2 919.9 134. 2 188. 5 65.4 60.2 352.7 76.7 52.5 92.8 61.2 172.1 September 147. 5 930.5 134.6 187.1 64.5 61.1 351.2 76.7 53.3 91.2 62.8 174.1 October 151.1 134.7 I 185.5 64.9 62.4 356.6 78.1 53.2 90.2 65.8 174.7 November 154.1 1,107.7 133.8 182. 9 64.8 61.5 353.6 78.7 53.4 89.7 65.2 175.8 December 150.1 999.6 133. 5 180.1 65.4 62.6 342.7 79.3 53.3 89.0 64.4 175.2 1930 January 149.9 956.6 133.8 182.2 66.2 64.5 337.0 79.3 51.3 I 88.7 63.1 176.7 February.. 145.3 930.1 133.1 182.9 65.4 64.4 332.5 78.0 50.5 | 87.1 63.6 172.4 March 144.6 944.0 134.7 185.2 64.2 65.0 340.1 77.7 51.8 88.3 63.2 171. a April 147.1 952.8 135.5 188.0 63.9 65.4 345.8 78.6 51.3 87.8 61.7 172.3 May 145.2 962.7 134.8 189.9 63.9 63.0 346.9 77.5 50.9 87.4 61.4 172. & June 145.8 990.2 137.8 195.1 63.2 61.3 348.8 76.6 51.8 88.0 59.9 173.1 July 149.3 1,000.8 139.4 200.6 63.5 60.6 351.2 77.0 50.4 88.9 59.0 176. & August.. 146.4 3 3 140.9 200.7 63.4 59.2 350.8 76.2 49.7 88.4 57.6 175. 7 September 146.8 141. 2 200. 8 63.4 59,9 348.5 75.7 51.3 88.2 58.5 173.4 October 149.1 1,008.3 141.1 196. 0 63.3 59.6 342.6 74.4 51.6 88.1 59.1 173.4 November 150.7 1,026.3 140. 5 191. 8 63.1 59.1 344.8 73.6 52.3 86.6 58.8 185.1 December _ 144.5 1,031.6 140. 6 187.1 61.3 58.1 343.4 70.2 50.2 85.4 57.7 184.9 Back figures.—See Annual Report for 1927 (Table 89). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

185 ALL MEMBER BANKS IN EACH DISTRICT No. 97.—ALL MEMBER BANKS—BORROWINGS * AT FEDERAL RESERVE BANKS, BY MONTHS, 1929 AND 1930 [Monthly averages of daily figures. In millions of dollars] Federal Reserve District Mouth New Rich- At- Chi- Min- Kan- ! I San I Boston York phia land mond lanta cago C sa it s y i Dallas! j F ci r s a c n o - 1929 | January __j 60.4 245. 9 i 73.1 i 79. 7 40. 7 58.5 I 142.7 37.4 ! 12.033.3 20.6 | 55.0 February _' 61.9 216.3 j 85. 5 i 84.7 j 41.0 55.8 • 165.9 37.8 ! 12.832.5 19.2 | 75.8 March : 58.6 231.5 i 101.6 I 76.0 i 43.4 51.7 210.6 48.1 I 15. 6 31.8 14.8 i 85.0 April ! 75.8 2C4.6 110.0 ; 96.6 | 52.6 63. 6 133. 4 51.8 I 19.3 38.8 18.6 ; 79.3 May i 96.5 234.5 86. 7 1 93.8 i 58.1 73.4 109. S I 48.7 j 18.1 49.1 23.1 ! 64.4 June ! 99.4 251.2 84.7 90.9 i 56.6 65.9 i 135.9 I 49.9 I 15.2 48.3 22.3 ! 57.7 July ! 78.4 | 408.6 77.3 i 84.0 ; 57.5 69.0 122.1 | 55.8 17.4 35. 3 j 30. 2 i 60.1 August i 79.5 i 303.3 92.8 j 79.7 | 59.6 75.1 120.0 i 67.2 21. 3 33. 7 j 43. 4 | 64.9 September 71. 3 230. 9 90. 6 ! 78.8 I 00.1 69.6 i 103. 9 | 72.7 | 34.4 38.8 j 41.3 76.4 October. CO. 7 ' 160. 0 78. 7 j 95. 2 i 53.1 57.6 ! 120. 2 I54. 7 |41.2 44.6 ! 31.6 86.9 November 46.9 I 154.7 I 106.8 I124.4 i 51.9 59.1 \139.3 47.1 i 28.6 57.7 | 30.2106.0 December 40.4 ! 188.3 80.2 1 98.4 ; 41.8 43.0 i 133.0 30.9 ! 17.4 45. 9 I 19.1 65.0 1930 ! I January _ 23.9 I 111.8 53.7 J 72.8 | 30.8 31. 7 I 87.4 i 17.7 i 7.0 28.1 13. 3 s 22.5 February 23. 2 ! 70. 5 50.5 ! 53.3 i 22.2 25.3 ; 63. 0 ; 16. 7 i 3.0 23.0 11.9 i 15.1 March 21.1 I 54. 3 36.7 i 31.1 ! 16.8 21.6 ; 35.2 ! 14.0 I 2.4 16. 2 I 8.3 ! 15.8. April 15. 6 i 53. 7 28.3 | 25.7 I 16.0 18.8 i 22. 7 i 13. 9 3.1 12. 8 I 7.5 I 13.1 May i 17.7 58.0 29.8 i 21.0 17.2 27.6 i 20.6 15.5 j 3.8 15.2 8.7 11.8 June I 17.3 57.1 28.1 | 23.6 19.7 30.4 I 18.1 18.1 I 3. 14.2 10.2 i 10.6 July _| 12.6 44.0 24.4 | 24.9 19.8 j 28.9 1 19. 0 16. 3 ! 4. 2 10.4 11.5 [ 10.0 August i 12.6 47.6 18.2 | 15.7 21. 4 29. 9 ! 16. 5 15. 1 4.4 ; 9.2 13. 9 ! 9.5 i September | 11. 6 | 32. 2 ! 16.4 ' 14. 6 | 20. 0 I 28. 2 | 14. 4 17. 7 j 4. 1 8j.8 13.2 7.6 October ] 8. 9 I 36. 7 i 17.5 25.0 i 18.9 I 24.8 ! 15.8 17.3 ! 4.3 i 10.3 10.2 6.7 November j 12. 3 42. 6 ! 19.6 27.1 i 21. 7 i 26. 6 I 18. 5 ! 17. 4 i 3. 8 1I4.0 8.4 8.9 December ' 17.3 I 90.3 27.5 37.9 I 33.1 I 30. 4 I 26. 4 i 14. 2 ! 3. 9 !16.0 6.9 33.7 1 Includes small amounts of borrowing by intermediate credit banks, etc., see Table 97. Back figures.—Bee Annual Reports for 1929 (Table 91) and 1927 (Tables 90 and 55). No. 98.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RESERVE BANKS, BY FEDERAL RESERVE DISTRICTS, 1923-1930 District 1923 1924 1925 1926 1927 1928 1929 1930 Boston 313 | 317 297 261 265 306 280 New York 590 ! 593 600 603 602 623 651 658 Philadelphia . 532 j 525 450 558 552 562 594 613 Cleveland 470 | 485 466 430 421 475 459 Richmond. 453 i 463 428 430 386 384 345 Atlanta 351 j 390 320 333 300 I 315 352 311 Chicago 973 i 922 825 814 746 J 685 708 656 St. Louis... 362 I 391 339 330 309 | 292 338 343 i Minneapolis.... 559 I 476 290 270 275 ! 224 249 234 Kansas City... 653 ! 586 410 453 377 | 381 417 447 Dallas 617 i 492 361 453 318 j 296 359 375 San Francisco.. 460 ! 420 380 347 316 ! 268 280 270 Total.. 6,333 J 6,060 5,183 5,343 4,869 4, 718 5,113 4, 991 i 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

o/99.—ALL MEMBER BANKS—CLASSIFICATION OF LOANS AND INVESTMENTS ON CALL DATES 00 [In millions of dollars. For back figures see Annual Report for 1929 (Table 93)] Loans to banks Loans to customers (exclusive of banks) Open-market loans Investments d F is e t d r e ic r t a l a n re d s e d r a v t e e i m T n lo a v o e a n e t n n d a s t s l t s - Total S s e b t d e a o o c n n c b u d d k y r s s - o A th l e l r Total o b Y u N r C T s o t s o e s i e k t o t w r i o c y e b k d u c r e o k s r I n e s d d t o a o s c b n t T m u h y d o s - e e - r r s j F la S a r n e e r d m a c l u r e e s d t e O a r s b t e t t e h y a a e t l e r s O e c u w c a u t n u h n i r s s r d e e e e e d r - d - Total in p A S a a c U n t y c a c a n e t e b e P p i s t l s t u e e - d rch e c a t o a f c s B u o b . i e r n l , l d e t e l i r p s i g i p a , n n e a y s p - ; e } { r p m e a C r p c e o i r m al -l S o t a r n e s e t 1 | i Total G s m U e o t c v i . e e u e n S s r r t i . n - - i s O e t c t i h e u s r e i r - Boston: 1929—Oct. 4_. 2,634 20 1,751 130 577 266 770 149 4 106 715 265 450 Dec. 31.. 2,561 25 1,702 102 597 270 727 183 4 97 050 216 434 1930—Mar. 27.. 2,571 22 9 1,615 96 537 272 703 232 4 123 702 246 456 June 30.. 2,592 27 14 1,616 102 553 270 683 193 3 95 755 244 511 Sept. 24.. 2,583 26 15 1,556 88 546 273 640 226 23 2 112 775 237 538 Dec. 31- 2,511 27 14 1,534 78 641 265 642 189 74 3 54 761 232 530 New York: 1929—Oct. 4.. 11,763 309 7,132 92 2,666 547 3,814 1,373 60 34 1,255 2,950 236 1,714 Dec. 31.. 12,316 328 7,231 84 2,955 539 3,640 1,538 129 47 1,322 3,220 343 1,877 1930—Mar. 27.. 11,783 208 95 113 6,502 80 2,667 532 3,220 1,830 92 41 l,C09 3,241 417 1,824 June 30.. 12,385 200 80 120 6,511 94 2,759 545 3,100 2,202 144 30 1,959 3,471 405 2,066 Sept. 24.. 12,093 172 54 118 6,392 104 2,723 543 3,008 2,031 149 28 1,795 3,497 367 2,130 Dec. 31- 12,023 288 134 154 6,428 121 2,796 530 2,967 1,584 191 23 1,311 3,724 494 2,230 Philadelphia: i! 1929—Oct. 4.. 2,755 51 1,774 100 583 208 870 64 2 42 865 217 648 Dec. 31.. 2,687 65 1, 750 81 607 216 833 44 1 25 828 193 635 1930-Mar. 27.. 2,671 52 35 17 1,697 78 592 224 789 84 3 43 837 160 647 June 30. 2,713 49 33 16 1,716 89 615 226 772 64 1 15 884 196 688 S D e e p c t . 2 3 4 1 _ - _ 2 2 , , 7 73 3 7 3 5 2 6 7 4 1 4 4 1 1 2 3 1 1 , , 6 6 5 7 4 2 6 7 0 8 6 6 0 0 9 1 2 2 2 2 8 7 7 7 4 5 4 2 1 5 1 7 5 3 2 j j 4 1 9 6 9 9 6 2 6 3 2 1 1 9 9 6 7 7 4 2 7 7 Cieveland: 1929—Oct. 4.. 3,498 34 (2) 2,255 79 785 468 897 129 1 1,080 429 1930- D M e a c r . . 3 2 1 7 . . . . 3 3, , 4 4 5 5 4 5 4 3 9 5 (2)24 (2)n 2 2 , , 2 2 9 0 6 9 7 6 4 9 8 8 5 0 2 9 4 4 6 6 5 0 8 8 7 3 7 8 13 6 0 5 18 1 5 0 7 1 1 1 , , 0 0 4 8 6 0 4 4 4 0 4 6 6 63 4 6 0 June 30.. 3,479 31 19 12 2,216 78 824 460 823 88 18 70 1,143 448 695 Sept. 24.. 3,530 28 17 11 2,153 65 826 467 764 118 30 86 1,230 515 715 Dec. 31.. 3,419 43 29 13 2,182 57 851 486 758 37 14 14 1,156 446 711 Richmond: 1929—Oct. 4.. 1,299 25 (2) (2) 920 22 231 50 598 45 37 309 132 177 Dec. 31. 1,278 18 (2) 920 17 253 52 580 36 12 23 303 124 179 1930-Mar. 27. 1,223 19 15 850 17 | 223 51 541 59 16 43 295 124 171 June 30. 1,204 24 5 19 835 18 i 228 51 521 28 15 I 13 316 131 185 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Sept. 24.. 1,206 24 i K 19 824 1 14 233 18 51 508 33 22 11 324 127 1 197 Dec. 3lII 1,154 24 i 7 17 801 13 233 17 51 486 17 16 1 312 110 202 Atlanta: i 1929-~Oct. 4.. 1,149 30 (2) (2) 810 23 168 24 58 537 49 1 3 5 40 260 117 143 Dec. 31- 1,115 22 ! (2) (2) 796 i 18 165 23 58 532 37 2 2 11 22 260 115 145 1930—Mar. 27__ 1,107 27 1 3 24 746 ! 16 154 24 54 498 71 1 3 17 50 263 120 ! 143 June 30. _ 1,059 32 4 28 725 i 18 162 25 53 467 33 2 12 19 268 117 151 Sept. 24.. 1,053 33 5 28 704 | 15 154 25 53 457 32 1 2 10 19 285 134 151 Dec. 31- 989 27 i 4 23 678 14 150 27 51 437 20 1 2 8 10 264 112 151 Chicago: ! 1929—Oct. 4.. 5,117 93 j (2) (2) 3,640 326 1,062 81 489 1,683 167 5 4 45 113 1,216 490 726 Dec. 31.. 4,934 132 (2) (2) 3, 555 288 1,100 82 501 1,583 83 11 6 39 27 1,164 408 756 1930~Mar. 27— 4,837 95 67 28 3,265 i 239 1,014 83 485 1,444 286 7 11 82 186 1,190 466 724 June 30.. 4,933 81 57 24 3,351 ! 278 1,065 80 475 1, 453 250 3 20 109 119 1,251 475 776 Sept. 24_. 4,967 69 49 20 3,206 288 990 79 472 1,377 368 8 14 94 252 1,325 487 838 Dec. 31-. 4,809 90 61 28 3,182 ! 235 1,042 77 468 1,360 134 18 14 53 49 1,403 538 865 St. Louis: 1929—Oct. 4— 1,375 31 (2) (2) 926 33 281 28 103 481 27 2 1 14 n 391 129 263 Dec. 31- 1,337 26 (2) (2) 883 35 283 27 99 439 47 2 1 30 14 381 115 266 1930—Mar. 27_. 1,315 23 10 13 831 27 251 27 103 423 76 4 1 50 22 386 114 272 June 30.. 1,289 33 9 24 810 32 245 26 100 407 66 1 44 21 378 102 276 Sept. 24.. 1,289 38 10 28 796 28 237 26 102 403 65 1 48 17 389 106 283 Dec. 31— 1,153 28 10 19 708 22 213 21 95 357 51 3 31 16 366 94 272 Minneapolis: 1929—Oct. 4 957 7 (2) 542 11 113 30 21 366 49 1 18 30 360 142 218 Dec. 31.. 912 7 (2) 515 9 115 28 21 341 41 1 24 17 348 135 213 1930—Mar. 27— 896 6 1 1 483 8 107 28 21 319 59 30 27 348 131 217 June 30— 870 8 |l 1 7 475 [ 9 111 26 21 308 32 21 11 354 134 220 Sept. 24.. 872 7 i 6 475 ' 7 113 25 20 310 30 23 7 358 131 227 Dec. 31.. 851 7 i 6 461 6 114 24 20 297 26 I— 21 4 357 122 234 Kansas City: 1929—Oct. 4 1,247 19 (2) 748 12 144 21 23 548 55 1 1 26 28 424 198 226 Dec. 31 1,212 23 2) 735 8 150 22 22 533 45 1 27 17 408 181 227 1930—Mar. 27.. 1,165 22 3 19 683 9 130 22 21 501 64 1 2 33 29 396 174 222 June 30 1,151 28 4 24 681 1 9 129 21 22 500 41 1 29 11 402 173 229 Sept. 24_. 1,160 22 4 18 658 ! 8 126 21 22 481 60 1 33 26 419 173 246 Dec. 31__ 1,147 | 23 5 19 667 7 130 22 23 485 26 1 1 22 3 430 173 258 Dallas: 1929—Oct. 4- 987 : 8 (2) (2) 673 3 118 17 24 510 68 I 13 1 10 44 238 153 85 Dec. 31_. 936 5 (2) (2) 651 2 127 17 23 482 58 i 20 1 16 20 222 132 90 1930—Mar. 27._ 807 7 1 6 613 6 106 18 21 462 70 I 15 1 13 41 219 137 82 June 30— 870 12 1 11 615 6 111 18 22 458 26 i 4 1 8 13 217 127 90 Sept. 24. _ 868 : 10 1 9 617 6 108 18 23 462 23 1 2 1 10 10 218 129 89 Dec. 31 ._ 822 8 2 6 575 4 115 17 24 416 17 A 1 10 2 221 118 104 San Francisco: 1929—Oct. 4.. 3,133 12 (2) 8 2,078 I 108 i 442 112 503 914 101 5 17 19 61 941 513 427 Dec. 31- 3,192 13 (2) 2,162 i 84 i 480 110 537 950 65 i 6 13 26 20 953 495 458 1980—Mar. 27.. 3,127 12 4 8 2,000 i 60 i 445 108 531 857 135 14 13 39 69 979 522 457 June 30— 3,109 10 4 ; 6 2,014 i 86 i 439 107 525 857 84 ! 15 9 42 18 1,000 508 492 Sept. 24— 3,116 ! 7 3 i 4 1,956 71 ! 432 108 524 821 159 I 20 1 9 42 88 991 494 497 Dec. 31.. 3,246 : 8 ! 4I 4 2,135 |l 59 i 472 115 607 882 75 • 15 1 7 37 16 1,028 467 561 00 1 Loans to brokers and dealers in securities in New York- City. i Not available Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

188 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD CONDITION OF ALL MEMBER BANKS, BY STATES No. 100.—ALL MEMBER BANKS—TOTAL LOANS AND INVESTMENTS, BY STATES 1928-1930 [In millions of dollars] 1928 1929 1930 June 30 Dec. 31 jM ar. 27 June 29 Oct. 4 Dec. 31 Mar. 27 June 30 Sept. 24 Dec. 31 United StE,tes. 35, 061. 2 35, 683.9; '>:•, 393. 0i35, 711.0 35,913.8 35,934.0 35,055. 7 35, 655. 7135,472. 3 34, 859. 5 New England: Maine 170.0 loi.l- 152.4: 146. 1 149.1! 144.7^ 143.9' 147. 2 149. 0 144. 7 New Hampshire. 71. oi 73. 4i 73.2 73.8 76. 3: 72. 6j 73.0i 76. 7 75. 3 72.8 Vermont 68. 2 70. 7l 69.7! 71.4 72.0i 70.5! 69.11 68. 31 67. 9 67.3 Massachusetts... 1, 738. 6| 1,680.311, 714. Oi , 741.6 1, 747.0! 1, 691. ll 1,703.0| 1,714.81 1,708.8 1, 656. 5 Rhode Island 335. 6 335. 0! 331. 81 325.2 328.5! 328.0! 325.2! 330.1 335. 5 329.3 Connecticut 321.1 318. 71 323. 7, 320. t 315. 2' 305. o! 305. 9i 304. 8 296. 3 288.6 Middle Atlantic- New York 9,7O8.o|lO,238.2 9, 981. 3"1j0,426.0 10,444. eill, 004. 6! 10,494. 8jll, 075. 2;10,832.1 10, 785. 2 New Jersey 1,528.41 1,548.6 1, 520. 3;1, 549. 2 1,533.2 1,524.8! 1, £01. 5| 1,526.2] 1,471.8 1,452.4 Pennsylvan: a ... | 3.693.0J 3, 651. f. 3, 728. 213, 742.1 3,778.71 3,705.1! 3,708.2! 3,799.81 3.868.1 3,811.1 East North Central: ! ! i I I I I W M O l n l h d i i i c s i n i o c h o a o i n i g n s a a . s - . i n n _ _ .- - . - . . ; j 2 1 1 , , , 4 9 4 4 7 5 4 9 2 6 9 6 0 2 2 . . . . . 3 0 2 2 5 'j ) i 1 J 2 1 1 , , , 9 4 4 4 7 4 9 3 7 7 9 4 6 6 2 . . . . 0 . 6 0 3 1 2 ! 2 1 1 ' , , , 9 4 6 5 4 9 9 5 0 3 3 5 6 4 3 . . . . . 6 3 7 5 s 8 ! i i ! 1 2 1 , , , 9 6 5 4 4 2 7 1 9 3 5 2 7 3 8 . . . . . 0 7 2 4 7 2 1 1 , , , , 6 9 55 4 4 8 6 33 3 8 9 4 44 6 9 . . . . . 3 . 2 4 33 0 1 1 ? !! ; 1 2 1 1 , ,, , 5 44 9 4 4 7 55 5 8 3 4 99 8 6 0 . .. . . . 6 88 0 2 3 1 !! ! ! ! 2 11 1 , , , , 4 4 9 4 4 4 9 4 4 4 9 1 9 7 6 1 7 4 . . . . . . 5 2 4 5 3 7 ! ! 1 | 2 1 1 , , , 9 4 6 4 1 3 1 2 9 2 6 3 . . . 6 . " s ] i 1,9 4 2 0 9 8 . . 6 4 West North Cer tral: Minnesota 535. 9 537. 5! 544. 2; 537. 9 572. 41 535.4; 508. 4| Iowa 359. 4| 363. 8 3C9. 3: 361. 4 368. 6i 350. 4! 332. 6| Missouri 922. 2| 916. 4 903. 3 874. 7! 870. 2! 855. 9! 830. 9! North Dakota... 73.8| 75.1 74.9 69. 7 73.0! 71. 4 67. 4| South Dakota... 66.8| 68. 4j 68. 8i 68. 7, 70.9! 68.8 68.31 Nebraska 183. 2\ 190. 8i 189. 3! 193.4 194. li 189. 81 194. 91 Kansas 204. 31 209.3 208. 01 209.7 209. Ol 202. 6J 186.3 South Atlantic: i Delaware 69.51 85.9 75.5! 82. 1 83. 8: 80. 2l Maryland 308. 3; 312. 81 331. 1 313.0 321.1! 321. 7j District of Co- I lumbia j 130. 41 129. 2J 130. 9| 133. 9j 126. 5| Virginia •, 392. 4! 397. 4! 133. 3; 391. 3| 390.1! 391. l! West Virgi:n'a._.! 200. 2 200. 7 j 2C0.9 204. 6| 201. 5! 202. 0 North Carolina .1 227. 1 222. 2! 227. 4 214. 61 183. 0; 174. 2; South Care Una J 121.4, 112. li 114. 6| 109. 7l 104. 2j 97.21 Georgia J 266. 4! 260. 41 262. 51 256. 4 259.1 244. 8| Florida | 220. 4; 203. 1! 208. 9; 189. 6 163. 9 164. 4 East South Central: I Kentucky j 318. 5: 342. 2! 337. 3 336. 4 340. 4 328. 0 Tennessee | 271. 6! 274. 51 200.2 265. 3 296. 8 285.3 Alabama.. _ J 218. 3! 231. 71 225. 5 223.7 221. 0| 211.1 Mississippi 79. 2j 77. 61 79.5 78.5 80. lj 76. 7} West South Central:' I Arkansas | 125. 0; 120. 2 128. 9 130. 3 132. 9j 125.4 Louisiana i 261. 8; 287. 8! 281.1 285. 8! 287. 51 283.3 Oklahoma ; 328. 4: 337. 2! 332.1 335.4 336. 8j 330.9 Texas I 848. li 917. 7i 923. 7 880.5 911.2; 860. 6i Mountain: j Montana ! 107. 4, 128. 2 119.3 118. 114.7 112.9 Idaho j 52. 8j 54. 0; 51.2 50.2 52.9 53.8 Wyoming ; 34. 61 37.7; 36.0 34.4 33. 6! 34.0 Colorado j 224. 0: 228. 2| 235.1 222 2j 227. 2i 218. 5 New Mexico j 28. li 30. 9i 30.5 30!3 30.1 30.41 Arizona i 41. 4! 43.7! 44.6 43.5 41.4 42. 4| Utah -J 82. 5| 87.0' 84.0 83.3 85.7 85. 7! Nevada.. \ 16. 6] 17. 0; 16.8 17.3 17.7 17. 5! Pacific: j Washington j 314.9 319.5 322. 318.2 324.4J 316.9 298.1 Oregon 206. 209.9 207.5 212.7 215. 2! 213.8 195. 2 California 2,444. 2,448. 2, 398. 4 2, 393.4 2,407.41 2,474.2 2,424.3 2,418.0! 2,436.7 2,582.8 Back figures .—See Annual Reports for 1928 (Table 98), and 1927 (Table 91). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALL MEMBER BANKS, BY STATES 189 No. 101.—ALL MEMBER BANKS—TOTAL LOANS, BY STATES, 1928-1930 [In millions of dollars] ! 1928 1929 ! 1930 State June Dec. Mar. June Oct. Dec. Mar. June Sept. Dec* 30 31 27 29 4 31 27 30 24 31 United States.24,302.825,155. 324,944. 625,658.526,164. 826,150.125,118.825, 213. 824,738.023,870. 5 New England: ! Maine 91.3! 80.8 83.4 79.7 83.0 78.5 77.7 79.6 80.0 77.6 NewHampshire. 42.6| 44.2 43.8 46.1 48.4 45.8 45.4 47.6 46.4 44.4 Vermont 39.4 41.7 41.1 42.8 43.4 42.3 40.7 40.2 38.9 37.8 Massachusetts.. 1,291.1 1, 265. 91, 252. 71,297. 2 1, 325. 71, 327. 61, 292. 31, 266.4 1,250. 7 1,212.4 Rhode Island... 189.4 193.5 200.1 204.8 211.1 212.7 208.2 203.2 200.0 192.2 Connecticut 232.7 237.7 243.3 243. 0 244.1 237.6 235.9 230.5 224.0 216.7 Middle Atlantic: New York 6, 914.1 7, 511. 77, 253. 37, 859. 77,912. 9 8, 202. 27, 691. 78, 079.1 7, 797. 77, 525. 9 New Jersey 985.0 1, 030. 51, 023. 01, 050. 71, 050. 91, 048. 21,003. 4 986.6 940.1 918.5 Pennsylvania. __ 2, 207. 32, 242. 62, 351.0 2, 382. 02,448. 2 2,421. 9 2,374. 6 2, 362. 32,328.8 2,277. 5 East North Central: Ohio 1,421. 5 1,445. 6 1,477. 0 1, 475. 71, 506. 21, 492. 21,488. 3 1,460. 9 1,452. 5 1,416. 5 Indiana 284.1 294.2 294.0 302.3 301. 5 306.0 288.9 289.1 275.1 266.2 Illinois 2, 009. 22, 063. 32,002. 4 1, 988. 22, 061.1 1, 976. 01, 899. 51, 971. 91, 983. 61, 763.1 Michigan 1,027. 9 1, 062.1 1, 081. 61,108. 7 1,139. 9 1,101. 0 1,068. 3 1,051.6 1,016. 7 1,010.3 Wisconsin 333.9 348. 7 360.0 361.4 356. 7 351.2 353. 3 343.8 338.2 335.8 West North Central: Minnesota 325.9 333.1 339.7 336.4 374.5 347.0 336.0 310.4 318.6 307.8 Iowa 250.4 251.7 253.2 247.8 254. 4 243.2 240.0 227.0 220.3 203.9 Missouri 615.9 613.7 618.7 610.4 616.9 607.1 598. 0 572.3 567.3 556. 5 North Dakota... 46.7 46.3 45.9 43.8 45.5 44.7 44.1 42.8 41.9 39.8 South Dakota... 40.3 39.8 40.3 40.9 42.6 40.9 40.2 .41.0 39.7 37.7 Nebraska 129.8 133.2 133.4 136.3 139.0 136.5 137.7 132.5 130.3 127.7 Kansas 136.0 135.0 134. 3 138.2 136. 2 135.7 126.1 127.0 123.6 117.7 South Atlantic: Delaware 50.3 67.7 58.0 65.5 67.1 64.4 «su .1.7 63.3 63.2 Maryland 202.7 211.3 208.1 214.5 222.9 223.6 205.6 196.9 192. 5 186.7 District of Columbia __ 96.3 95.4 97.8 95.2 99.0 91.8 91.5 88.7 88.8 89.4 Viriginia 317.6 319.5 321.7 312.4 312.5 314.6 303.0 294.8 294.9 284.8 West Virginia... 155.3 157.5 154.8 158.4 156.4 158.0 153.7 148.4 145. 8 146.6 North Carolina. 187.5 181.9 181.0 173.5 147.8 141.5 139.3 131.0 131.5 111.8 South Carolina.. 86.4 82.2 85.5 81.6 76.5 71.2 60.2 53.5 52.3 48.8 Georgia 217.8 203.7 208.0 210.1 215.9 197.6 197.4 192.1 183.8 178.0 Florida 139.6 121.4 128.8 109.7 90.8 90.8 101.8 70.8 65 2 59 3 East South Central: Kentucky 230.2 254.4 251.9 253.7 258.0 256.3 240.9 236.1 231.4 189.0 Tennessee 225.2 225.1 213.8 213.8 249.9 240.6 238.3 232.0 233.4 207.0 Alabama 169.5 179.5 176.5 175.0 173.5 366.8 159 0 155.9 152 7 146 7 Mississippi 58.5 57.0 58.0 58.5 60.5 54.9 57.7 57.8 57.1 45.6 West South Central: Arkansas 95.8 93.4 94.6 96. 3 100.4 93 1 90 5 92.0 90 7 65 6 Louisiana 215.6 224.2 221.3 228.1 231.5 228.7 208.7 199.8 193.6 187.3 Oklahoma... .. 207.1 209.7 203.3 209. 8 213. 5 206.4 191.0 199.0 196.2 187.7 Texas 641.5 680.9 674.6 649.0 691.9 657.8 636 5 602 3 601 4 559 8 Mountain: Montana 67.9 78.3 71.7 72.7 69.6 67.2 63.3 59.6 55.8 51.5 Idaho 33.7 34.5 33.7 33.4 36.0 35 0 32 8 32 0 31 5 30 6 Wyoming i 22.6 23.2 22.0 21.5 21.6 22.0 21.5 21.3 20.8 20 0 Colorado.. ' 134.4 140.7 146.2 139.1 146.6 140.6 134.0 122.8 127.0 118. 2 New Mexico ' 17.4 19.4 18.6 18.6 18.7 18.7 19.5 17.7 17.1 15.7 Arizona 26.3 25.3 25.8 24.9 23.0 23.2 24.9 22.4 20.7 19.0 Utah 61.9 64.5 62.2 61.8 64.0 64 8 64 2 61 8 58 7 55 8 Nevada.. ! 11.2 11.7 11.4 11.9 12.1 11.8 11.0 11.1 11.1 10.8 Pacific- Washington 194.6 195.7 197.4 202.6 215.7 205.4 198. 7 198. 6 186.5 181.6 Oregon 109.5 109.7 107.6 113.4 116.9 116.6 111.9 111.2 109.4 99.6 California i 1, 712. 01,672.5| 1, 638.4 1,657. 6 1,730.3 1, 788.1 1, 709.2 1,676.8 1,710.8 1,824. 6 1 Back figures—See Annual Reports for 1928 (Table 99), and 1927 (Table 92). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

190 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 102.—ALL MEMBER BANKS—LOANS TO CUSTOMERS, OPEN-MARKET LOANS [Exclusive of loans to banks. In millions of dollars. For explanation see Table 99] Loans to customers State 1928 1929 1930 Oct. 3 Dec. 31Mar. 27 June 29 Oct. 4 Dec. 31 Mar. 27June 30 Sept.24 Dec. 31 United States. 21,240 21,460 21,903 22, 517 23,249 23,193 21,494 21,565 21, 010 21,007 New England: Maine 78 78 80 77 79 76 75 77 78 76 New Hampshire 42 42 43 45 46 44 43 46 44 43 Vermont 38 39 40 42 42 42 40 40 38 38 Massachusetts.. 1,088 1,114 1,105 1,165 1,173 1,144 1,069 1,070 1,021 1,010 Rhode Island... 184 193 200 208 200 192 191 187 187 Connecticut 221 226 232 237 235 230 224 223 218 212 Middle Atlantic: New York 5,261 5,319 5,637 5,937 6,294 6,402 5,725 5,727 5,643 5,686 New Jersey 933 954 964 987 984 977 922 933 891 885 Pennsylvania. _. 2,009 2,060 2,163 2,224 2,295 2,287 2,217 2,236 2,150 2,148 East North Central: Ohio 1, 350 1,361 1,390 1,399 1,397 1,421 1, 366 1,367 1,348 1,361 Indiana 266 276 277 285 287 294 274 273 260 256 Illinois - 1,814 1,889 1,850 1,818 1,876 1,825 1,612 1,707 1,613 1,588 Michigan 1,000 1,020 1,039 1,074 1,107 1,069 1,027 1,024 999 992 Wisconsin 318 327 336 342 339 335 321 325 321 319 West North Central: Minnesota 288 283 301 308 354 328 301 291 298 290 Iowa _- 236 231 230 227 230 227 220 211 194 193 Missouri 529 520 537 544 569 539 501 477 471 475 North Dakota- 43 41 41 42 42 41 40 41 40 37 South Dakota... 35 35 35 36 37 37 37 38 37 36 Nebraska 111 119 118 119 121 121 117 113 109 114 Kansas 118 120 118 125 122 123 114 115 109 110 South Atlantic: Delaware 42 48 53 58 60 56 55 55 59 59 Maryland 191 188 188 190 204 209 186 185 181 180 District of Columbia 82 84 87 88 88 85 80 81 82 86 Virginia 290 300 297 291 288 294 276 273 267 264 West Virginia... 150 153 149 153 152 155 148 146 143 143 North Carolina. 180 172 173 166 141 135 127 125 125 107 South Carolina. . 78 77 77 76 72 67 56 50 50 46 Georgia 189 186 192 193 189 182 166 169 164 163 Florida. 104 108 101 90 70 72 71 60 56 56 East South Central: Kentucky. 234 246 242 244 249 248 232 228 223 182 Tennessee 212 214 203 203 237 231 220 216 216 196 Alabama 165 168 166 165 164 160 146 145 139 136 Mississippi 59 54 55 55 58 52 55 56 55 45 West South Central: Arkansas 89 83 83 88 93 86 84 86 84 63 Louisiana 208 210 204 209 217 217 196 187 180 176 Oklahoma 190 183 179 195 199 195 181 191 187 184 Texas 582 574 571 579 621 600 565 567 570 537 Mountain: Montana _ 51 49 47 53 51 50 48 49 46 43 Idaho 30 30 30 31 31 32 30 30 29 29 Wyoming 20 19 20 21 21 20 21 21 20 19 Colorado 124 129 130 130 138 135 123 116 113 113 New Mexi30 17 14 15 18 18 16 16 17 17 15 Arizona 19 20 19 18 19 20 20 21 20 19 Utah . . .. 57 57 56 59 60 60 56 58 56 53 Nevada 10 10 ,0 10 10 11 10 10 11 10 Pacific: Washington 169 171 171 185 193 187 176 183 175 171 Oregon 98 96 95 104 105 106 101 102 97 90 California _ 1,640 1,578 1,561 1,613 1,664 1,750 1,613 1,615 1,574 1,766 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALL MEMBER BANKS, BT STATES 191 No. 102.—ALL MEMBER BANKS—LOANS TO CUSTOMERS, OPEN-MARKET LOANS—Continued [Exclusive of loans to banks. In millions of dollars. For explanation see Table 99] Open-market loans State 1928 1929 Oct. 3 Dec. 31 Mar. 27June 29 Oct. 4 United States. 2,537 3,158 2,493 2,471 2,275 New England: Maine 5 3 2 4 New Hampshire. 2 2 1 2 Vermont 2 \ 1 1 Massachusetts.. 152 137 128 108 Rhode Island... 11 10 7 5 Connecticut 11 10 6 Middle Atlantic: New York 1,174 1,900 1,358 1,602 New Jersey 67 74 57 61 Pennsylvania 173 137 130 100 East North Central: Ohio 87 65 64 53 Indiana _. 18 14 11 12 Illinois 196 131 87 99 Michigan 31 26 32 22 Wisconsin 22 17 20 15 West North Central: Minnesota.. 39 43 32 22 Iowa 15 13 16 15 Missouri. ._ 76 82 67 43 North Dakota... 3 5 4 1 South Dakota... 6 4 4 Nebraska... 18 7 10 10 Kansas. 18 12 14 8 South Atlantic- Delaware . 14 20 5 8 Maryland 20 21 17 19 District of Columbia 10 11 10 6 Virginia 15 14 17 9 West Virginia... 2 3 4 4 North Carolina. 2 6 5 South Carolina.. 2 4 8 4 Georgia. . 13 13 11 10 Florida 17 10 25 17 East South Central: Kentucky __ . 10 6 8 5 Tennessee 4 5 6 Alabama 6 10 7 Mississippi 1 2 3 2 West South Central: Arkansas 7 9 11 6 Louisiana 5 7 8 6 Oklahoma 17 26 23 12 Texas. . 85 104 100 63 Mountain: Montana.. .. . 21 29 24 19 Idaho 4 4 4 2 Wyoming 4 4 2 Colorado 18 9 14 8 New Mexico. . 5 3 1 Arizona 5 6 7 7 Utah 5 7 5 2 Nevada I 2 2 2 Pacific: Washington 26 22 25 16 Oregon 12 13 11 8 California .. . 84 92 71 38 OCOCOO *H 1930 Dec. 31Mar. 27 2,242 3,097 3 2 2 2 1 161 202 13 16 7 11 1,473 1,760 65 69 76 94 53 99 84 41 101 9 5 7 113 59 225 24 8 26 13 10 28 15 13 30 19 10 13 27 47 77 4 3 6 3 11 6 11 9 7 8 15 12 10 6 12 12 3 1 1 4 4 2 21 13 18 16 3 2 3 4 5 5 2 2 5 4 4 13 10 64 53 18 17 5 3 1 2 7 4 1 3 4 3 2 4 2 1 20 16 11 10 59 30 OC OC !71 J une 30 Sept.24 3,113 3,262 2 2 2 2 171 205 12 13 7 6 2,154 1,983 51 48 67 143 75 86 9 8 209 324 15 7 14 14 14 15 9 19 69 73 1 3 13 8 7 7 6 17 7 11 7 16 9 4 1 9 2 3 2 27 17 28 8 5 4 13 4 5 4 2 1 4 1 4 2 8 5 65 25 15 10 2 10 5 3 1 5 2 7 2 1 20 13 10 8 90 58 ototS Dec. 31 2,233 1 1 178 5 3 1,553 31 65 25 4 115 4 11 12 4 58 2 1 6 11 4 4 4 8 6 3 16 9 1 2 2 2 1 14 10 7 2 4 2 2 7 5 2 1 2 6 1 22 16 9 o 2 1 12 4 1 I 2 10 9 12 9 133 54 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

192 ANNUAL REPOET OF THE FEDERAL RESERVE BOARD No, 103.—ALL MEMBER BANKS—INVESTMENTS, BY STATES, 1928-1930 [In millions of dollars] 1928 1929 1930 Stale June 30 Dec. 31Mar. 27June 29 Oct. 4 Dec. 31 June 30 j Sept. 24Dec. 31 United States. 10, 758. 4 10, 528. 7 10,448.4 10,052. 59.748.9J 9,783.9 i, 936. 9 10,441. 9 10, 734. 2:10.9S9. 0 New England: j Maine _| 78. 70.3 69.1 66.5 66.3 66.2 67. 61 68. 9 67.1 New Hampshire! 28.9 29.2 29.5 27.7 27. 9! 26.8 27.6 29.1 28.9 28.4 Vermont __| 28.8 29.0 28.6 28. 6j 28. 6 28.1 28.4 28. ll 29. 0 29.5 Massachusetts _ - 447.4 420.41 461.3 444. 5| 421.3 363. i 410.6 448.4| 458.1 444.0 Rhode Island... 146.2 141. 5 131. 120.4! 117.5 115.3 117.0 126.9| 135. 6 137.1 Connecticut 81.0 80.4 77.5 71.1 67. 70.0 74.3 72.3 71.9 Middle Atlantic- New York _i 2,853. 92,726.5 2,728.0 2,566.3 2,531.7 2,802.4 2,803.2 2,996.1! 3,034.4 3,259.3 New Jersey j 543. 5 518.11 506.3, 498.6! 482.3 476.6 498. it 539.71 531.7 533.9 Pennsylvania j 1,485.7 1,408.91 1,377.2! 1,360.1! 1,330.5 1,283. 2| ],333. 5i 1,437.5! 1 539. 2J 1,533.6 East North Central: Ohio j 524.8 503. 31 516. 7 497. 0! 483.1 465.9 457.9 458. 7! 477.2 455. 5 Indiana j 137.9 141.8| 139. 8 136. 4| 134. 9 130.2 125. 3 127. 4| 133.3 130.0 Illinois ! 753.3 712.9! 653.9 636.8! 603.1 598.6 600.1 652. II 697. 0 799.5 Michigan j 431.3 410. 2 414. lj 404. 5! 394. 5 358.7 379.2 380. 5! 399. 3 369.7 Wisconsin. j 156.3 145. 91 144. 5| 136. Oj 132.2 128.9 138.1 141. 5j 141. (> 149.7 West North Central:! Minnesota i 210.1| 2U4.4 204. 5! 201. 0! 197.9 188.4 188.3 197.9i 197. b 199. 5 Iowa _! 109.0 112.1 116. lj 113. 7\ 114. 21 107.3 107. 8! 105. 5 109. 5! 101.9 Missouri.. j 306.3 302.7 284. 6 264. 31 253.3 248. 8 250. 9 258. 6 275.1 282.4 North Dakota I 27.1 28.8 29.1 26.0! 27.5 26.7 26.2! 24. 6! 24.8 24.7 South Dakoi;a___| 26. 5 28.6| 28.5 27.8! 28.3 27.9 27. 5j 27.3; 27.6 25.4 Sout N K h e a A n b s r tl a a a s s n k t a i . c : - j I 5 68 3 . . 2 4 ! 5 74 7 . . 5 3 ! j 5 73 5 . . 9 7 ! | 1 5 71 7 . . 1 5 ! 1 5 7 5 2 . . 2 8 5 6 3 6 . . 4 9 5 62 7 . . 0 4 : 1 6 5 2 9 . . 4 3 j J 6 61 4 . .7 3 6 6 4 3 . . 4 1 Delaware. _. 19.3 18.2 17. ei 16.61 16.6 15.8 15.9J 17.0 19.2 18.6 Maryland 105.7 101.1 103. 0| 98.5s 98.2 98.1! 93.8 110.51 113.4 108.2 Dist. Columbia. 34.2 33.: 35. 5i 35.7; 34.9 34. 7| 36. 3! 36. 6 42.11 43.9 Virginia 74.9 77.81 77.2! 78.9! 77.6 76. 6 76. Oj 81.6 81. 5 74.3 West Virgin-a...! 44.9 43. 2; 46.1) 46.2 44.0 45.21 47.3 47.4 44.9 North Carolina.[ 39.7 40.3: 4G.4 41.1 35.2 32.7 34.0 31. 0i 29.6 28.4 South Carolina._! 35.0 29.9; 29.2 28.1 27.8 26.4 18.1 18. lj 19.1 19.7 Georgia j 48.6 56.81 54.5 46.3! 43.2 47.1 49.1 53.4 67.3 50.1 Florida I 80.8 81.7; 80.1 79.9J 73.1 73.6 79.4 79.1 78.4 76.0 East South Central: | Kentucky J 88.3 87.8! 85.4 82.8| 82.4 71.7 73.1 73.0 72.0 57.2 Tennessee _J 46.3 49.4i 46.41 51.1 46.9 44.6 45.6 47.2 46.4 45.8 Alabama ] 48.8 52. 3i 49.0; 48.7! 47.5 44.3 42.8 44.1 45. 5 45.6 Mississippi j 20.7 20. 7| 21.6! 20.0; 19.6 21.8 20.7 19.5 18.2 16.8 West South Central: Arkansas 29.1 32.9! 34.3 33.9 32. 5 32.3 30.1 28.0 25.9 22.8 Louisiana 46.2 63. 61 59.8 57.7 55.9 54.5 50.5 50.8 53.8 53.4 Oklahoma- 121.3 127. 5j 128.8 125. 5! 123.2 124.6 115.6 112.3 108.4 111.7 Texas I 206.6 236.8| 249.1 231. 6 219.3 202.8 199.7 195. 9 198.3 198.4 Mountain: Montana. 39.5 47.8J 47.6 46.1 45.1 45.7 45.3 44.2 47.1 48.1 Idaho 19.1 19. 5j 17.5 16.9 16.9 18.8 16.7 16.9 16.6 17.0 Wyoming. 12.0 14. 4i 14.0 12.9 12.0 12.0 11.5 10.8 10.6 10.9 Colorado.. 89. 87.4! 88.9 83.1 80.6 77.9 80.8 78.1 93. 95.3 New Mexico | 10. 11.51 11.8 11.6 11.4 11.6 11.6 12.0 11.1 10.8 Arizona _i 15.1 18.5! 18.9 18.6 18.4 19.2 15.7 17.0 15.5 18.8 Utah... ! 20.6 22.5! 21.8 21.5 21.7 20.9 21.7 23.3 25.2 25.4 Nevada | 5.4 5.3; 5.4 5.5 5.6 5.7 5.8 5.8 5.8 5.9 Pacific: | Washington | 120.3 123. 8! 125.4 115.6 108.7 111.4 116.2 110.0 115.6 116.5 Oregon I 97. 100.21 99.9 99.3 98.3 97.2 95.2 93.6 93.6 95.7 California.. j 732.8 776. 31 760.1 735.7 677.1 686.1 715.2 741.2 725.9 758.2 Back figures.—See Annual Reports for 1928 (Table 100), and 1927 (Table 93). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALL MEMBER BANKS, BY STATES 193 No. 104.—ALL MEMBER BANKS—BORROWINGS FROM FEDERAL RESERVE BANKS, BY STATES, 1930 [End of month figures. In thousands of dollars] 1930 1 State Jan. ! Feb. Mar. Apr. i May June July Aug. Sept. Oct. Nov. Dec. Maine 1,038j 975 751 886| 975 1,437 815 913! 787; 1,0791,378 1,560 New Hampshire 2,001) 1, 2, 673 1,635. 1 2,791 2,312| 1,342 771! 785 1,130 892 904 Vermont 1, 402 1,405 1,405 1, 342J 1, 773 1, 3201 901 1,019 775: 951 939 836 Massachusetts - 17,369 19,526 11,304 7,523i 11,475; 9, 8881 4,889 9,927 6, 508; 4,883 9,487 7,179 Rhode Island-- 973 644 8391 1,018! 564| 125J 200 150 400 76 531 209 Connecticut 4,126] 3,371 3,493 1,953! 3,9311 3,963 3,746 3,78l| 3,036 2, 956] 3, 762 4,188 New York 31,476! 34,316 82,219 29,357 101,564! 71,538 21,853 25, 928; 96, 224 26, 687 44,139 50, 716 New Jersey 20,152 19,520 14,502 17,904 17,280! 16,631 13,856 10,041 8,764! 11,932! 17, 660 14, 689 Pennsylvania.. 64,942 53,861 38,440! 29,698 32,762 34,922| 25,831 23,697 21,042; 24,961 29,999 36, 698 Ohio 35,413 30,356 17,413i 11,842 10, 536 14, 501 8,500 7, 360] 12, 454! 15,305 19,327 17, 528 Indiana 10,003 12,301 6, 509 4, 639 2,966 3,305 4,091 4,461 3,919 4,117 3,308 3,591 Illinois 17, 675 9, 54517,468 6,494] 5, 566 5,463 5, 77710,196! 6,0691 5,719 5,464 Michigan 45,773j 31,568 12,888! 9,076i 6,262 7, 307 5,997 4,258' 7,393 5, 993 6,758 7,281 Wisconsin 6,081' 5, 756 2,877 4,633j 2,802 3,136 2,087 2,072! 1, 685j 2,476j 2, 750[ 7,853 Minnesota 3,645 794 574 631 524! 1, 245j 1, 736! 1,327 712 Iowa 4,428 4,557 1,689 1, 811 1, 680| 1,234 2, 738] 4,253 2,138 Missouri 8,831 9,930 4,945 2,770 2,690| 2,656 2, 758; 4,756 5,287 North Dakota- 561 726 852 1,058 1,124! 748 728| 777 767 South Dakota.. 584 861 972 1,129 1,187| 1, 087: 1,151! 1,225J 1,295 Nebraska 5, 307 2,982 2,167 1,366 1, 042| 1,793! 4, 904| 6,852| 4,874 Kansas -- 2,777 5,612 3,308 2,040 1,970| 2, 071! 3,200] 4, 941 j 2,964 Delaware 680 748 344 509J 23o! 679' 1, 3561 483 Maryland 6,421 1,095 980 833! 828! 1,468! 5,405] 1,728 District of Columbia 728 200 200j 54lj 850 1,149 Virginia 8,986 9,102 7,959 6, 6731 7, 332| 10, 694] 8,730 West Virginia. _ 4,681 4,615 4,271 3,670; 3, 697! 4,837 6, 558| North Carolina. 4,947 5,896 6,119 7,868! 6, 708, 3,748 5, 7691 5,363 South Carolina. 1, 1,357 1,677 2, 664; 1,408! 706 1, 236! 375 G Fl e o o r r i g d i a a 2 4 , , 1 4 6 8 3 0 5,1 7 4 72 5 J 5 1 , ,3 8 8 9 0 1 5 1 , , 4 3 9 2 3 3 ! ; 4 1 , , 0 5 0 0 1 8 ; i 3 2 , , 2 1 0 5 9 3 4,r 2 1 , , 8 5 3 3 4 5 Kentucky 2,159 2, 678[ 2,171 1, 923! 2,279 4,446 5,689 2,774 Tennessee 1,364 7,435 8,971 9, 339 12,197 10, 570 12,114 6,237 Alabama 6,484 7,405 8,033 i 6, 009 4,729 5.344 3,626 Mississippi 6,211 7,066 7,150] 6,212 4,921 3,652 1,712 Arkansas 3,137 4,079 2,790 5, 386, 5,967 3,703 2, 601 1,436 Louisiana 6,059 3,202 4,059 7,098: 2,973 3,477 7,923 2,819 Oklahoma 2,275 2,246 2,349 2, 839! 2,602 1,641 1,973 6,085 Texas 8,556 7,767 11, 542 13,465| 10,152 8,585 7,169 4,012 Montana 1,061 1,146 1,234 1,217, 983 579 437 373 Idaho 522 588 742 670 446 239 138 267 Wyoming 731 411 596 641: 154 178 151 261 Colorado 1,279 1,663 2,904 2,424 2,408 2,183 744 845 New Mexico ... 268 445 533 562, 515 596 293 116 Arizona 20 83 98 58 Utah 1,709 1,399 2,186 1, 857] 1, 532 1,635 954 540 Nevada 87 70 10 Washington 2,461 2,007 2,794 2, 627 1,958 2,635 2, 571 825 Oregon 2,541 2,424 2,228 2, 585 1,262 1,211 1,030 1,262 California 1, 857 2,288 1,715 1, 619 5,955 5,187 12, 968 12,531 1 Figures given include borrowings by Federal intermediate credit banks as follows: Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. i Nebraska.. 365 176 365 116 75! Kansas 600 900 900 i South Caro- -.- . . . lina 250 501 Louisiana.. 100 Washington 443 306 124 California- 644 250 j 296 h 036 737 i Back, figures— See Annual Reports for 1929 (Table 97), and 1928 (Table 101). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

194 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 105.—NUMBER OF MEMBER BANKS DISCOUNTING PAPER AT FEDERAL RESERVE BANKS, BY STATES, 1923-1930 State 1923 1924 1925 1926 1927 1928 1929 1930 I New England: Maine 40 42 37 i 33 i 31 29 ! 32 31 New Hampshire 42 42 39 39 ! 37 j 40 42 Vermont 29 36 28 : 30 ! 22 ! 43 32 Massachusetts 153 | 148 146 : 135 ! 126 j 133 ! 142 128 Rhode Island 13 ! 13 14 ! 12 I 6 j 11 I 11 8 Connecticut 46 I 45 | 41 ; 46 ; 44 | 43 ; 51 50 Middle Atlantic I New York 433 I 436 438 ! 429 ' 418 ! 437 1 455 459 New Jersey i 220 221 235 247 ! 261 i 264 i 264 282 East P N en o n r s th y lv C a e n n i t a r al: I I 587 | 592 509 ! 613 ; 596 j 610 ! ! 673 | 671 Ohio j 282 | 281 285 , 276 i 251 ! 241 262 I 252 Indiana I 176 169 149 ! 141 i 135 | 131 143 | 130 Illinois.- .... 335 342 311 : 321 ! 286 i 267 311 ! 287 Michigan 185 177 161 : 174 j 182 ! 166 i 183 ! 139 Wisconsin 107 | 95 73 ' 68 | 71 | 85 | 89 West North Cer.tral: Minnesota 161 139 99 ! 91 j So j 80 78 j 67 Iowa 333 303 265 ! 230 | 190 I 153 | 131 162 Missouri 121 123 110 I 108 i 124 i 116 | 121 123 North Dakota-- 118 106 53 66 i 61 '• 59 47 South Dakota 105 95 52 i 36 j 40 49 Nebraska 149 133 108 I 109 ! 97 ! 102 101 Kansas 128 118 74 ; 95 | 87; 105 ! 108 120 South Atlantic: Delaware 17 15 15 ! 14 i 16 ! 16 14 Maryland,. 62 58 54 ; 54 ! 53 .50 46 Dist.of Columbia. 12 11 9 : 10 j 9 ! 9 8 Virginia..- 146 155 146 I 143 ! 124 132 139 ! 125 West Virginia.... 75 92 82 ! 83 I 74 ; 77 81 ; 78 North Carolina_ 87 80 78 i 75 ! 72 ! 78 61 61 South Carolina..- 81 78 69 ! 74 ! 59 48 49 35 Georgia. 143 156 131 ! 121 j 104 108 115 I 96 Florida 48 42 17 j 41 | 35 36 49; 35 East South Central: Kentucky 71 75 67 ! 60 I 52 51 72 T A e la n b n a e m ss a e e I ! 62 8 9 0 0 63 6 88 5 j | 7 5 9 6 9 5 2 3 1 6 0 2 3 6 9 7 1 Mississippi | 32 31 ! 32 33 33 33 West South Central: | Arkansas i 77 i 74 | 59 55 50 I 61 Louisiana | 35 i 28 i 29 30 30 ! 27 Oklahoma ! 146 167 | 100 102 113 I 127 Texas ! 523 415 309 417 I 290 267 323 | 346 Mou I M W N U C A N n d o r e t t e a o y i a a w l v h z n o o h i o o a n t r m n M a a : d a d i n a n e o a . g x . ico I ' 1 8 8 3 2 4 2 3 1 3 9 2 7 1 2 8 1 6 0 2 7 2 3 1 1 6 2 7 6 7 4 9 5 6 7 3 1 2 6 0 8 2 6 1 1 1 ' 4 3 6 3 1 8 8 9 7 8 3 4 I 4 3 6 3 1 1 5 8 6 0 3 0 0 2 2 5 3 1 1 5 8 3 5 8 2 i I 4 2 6 1 3 1 5 3 4 3 3 8 6 1 j I I ! | 4 2 1 6 3 1 0 7 4 4 8 1 2 1 Pacif C W O i a c r l a : e i s g f h o o i n r n n g i t a on _ 1 1 0 6 6 1 3 1 1 8 5 6 7 9 1 1 8 6 3 2 0 8 1 5 3 7 4 1 7 5 1 3 6 1 | i 8 2 0 5 ! | 8 7 5 1 5 1 Total . i, 333 6,060 5,183 5,343 4,S 4,718 5,113 4,991 Bick 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

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 195 REPORTING MEMBER BANKS IN EACH DISTRICT No. 106.—REPORTING MEMBER BANKS—TOTAL LOANS AND INVESTMENTS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District Apr. 2_. Apr. 9.. Apr. 16_. Apr. 23.. Apr. 30.. May 7. 610 3,241 May 14. 607 3,248 May 21- 601 3,267 May 28. 607 I 3,248 June 4_. June 11. June 18.. June 25-. July 2_. July 9_. July 16 July 23.. July 30- Aug. 6 1,516 1, 266 2, 280 Aug. 13 ! 1,511 1, 276 2, 275 Aug. 20 | 1,511 1, 278 | 2, 273 Aug. 27 1 1,518 1,275 ! 2,277 Sept. 3. Sept. 10 Sept. 17 | ljoll Sept. 24 | 1,514 Oct. 1 | 1,546 Oct. 8 I 1,521 Oct. 15 ! 1,513 Oct. 22. i 1,516 Oct. 29- —| 1,516 Nov. 5 | 1,543 Nov. 12 ! 1,524 Nov. 19 1,517 368 658 ! Nov. 26 1,506 368 655 | Dec. 3 1,502 369 657 1 448 ! 1,996 Dec. 10 1,495 365 656 444 ! 2,002 Dec. 17 1, 495 371 653 449; 2,011 Dec. 24.... 1,485 364 650 449 ; 1,987 Dec. 31 1,492 364 662 j 444 j 1,954 Average: January 1,527 8,899 1, 206 2,136 653 620 3,193 676 370 664 ! 467 < 1, 957 February.. 1, 496 8,755 1,203 2,128 646 618 3,150 666 364 655 462 ! 1,939 March 1,501 8,929 1,201 2,149 651 621 3,204 665 373 647 460 l 1,951 April 1, 521 9,117 1,212 2,176 653 620 3, 232 666 369 654 466 i 1,971 May. 1,498 9,163 1,209 2,174 643 606 3,251 675 361 659 j 457 I 1,966 June 1,512 9,420 1,238 2, 213 648 600 3,302 660 363 655 | 448 ; 1,965 July 1,530 9,358 1,256 2,277 647 593 3,379 667 353 652 440 ! 1,951 August 1,514 9,357 1,273 2,276 652 588 3,392 668 355 652 I 436 : 1,965 September. 1,515 9,349 1,289 2,297 654 596 3,400 665 369 659 445 1,981 October 1,522 9,551 1,296 2,283 658 600 3,376 655 372 659 ' 457 1, 980 November. 1,523 9,652 1,296 2, 246 655 595 3,368 648 370 659 454 i 1,991 December. 1,494 9,391 1,307 2,229 643 594 3,358 643 367 656 447 ' 1,990 Back figures—See Annual Report for 1929 (Table 100) and,,Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

196 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 107.—REPORTING MEMBER BANKS—TOTAL LOANS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District Bos- New Phila- Cleve- Rich- At- Chi- St. Min Kan- "Hal San ton York i! QHA6I1- land mond lanta cago Louis ne- sas Ual' Fran- ! phia apolis City 12.3 cisco i 1,202 6,788 931 1,537 508 499 2,559 533 260 461 370 1,393 1,222 6,652j 915 1,536 498 493 2,541 535 255 452 364 1,396 1,205 6,572 ' 929 1,531 499 493 2,518 520 251 451 359 1,380 1,202 6,570| 919 1,532 492 500 2,517 519 248 443 359 1,374 6,586 ! 924 1,523 495 497 2,502 516 248 441 362 1,368 6,559 922 1,523 495 493 2,486 520 247 441 360 1,365 6,496 914 1,515 486 494 2,511 517 248 443 353 1,371 6,422 909 1,518 487 494 2,510 512 253 443 352 1,368 1,163 6,525 914 1,513 493 495 2,533 511 253 440 345 1,363 1,168 6,651 907 1,509 497 493 2,550 515 259 439 346 1,372 1,185 6,737 915 1,524 495 499 2,569 516 259 437 355 1,355 1,192 6,752 920 1,556 496 499 2,555 511 256 431 353 1,364 Apr. 2... 1,183 6,829 923 1,535 496 497 2,543 510 253 433 355 1,356 Apr. 9... 1,182 6,712 922 1,534 500 495 2,568 513 251 441 356 1,353 Apr. 16- 1,193 6,721 913 1,521 492 489 2,590 516 252 441 356 1,361 Apr. 23- 1,181 6,868 917 1,529 492 489 2,579 511 249 440 351 1,350 Apr. 30- 1,166 6,926 908 1,519 489 483 2,558 509 254 438 352 1,363 May 7... 1,153 6,836 912 1,518 485 479 2,571 507 250 440 352 1,350 May 14.. 1,142 6,815 907 1,519 482 478 2,570 505 249 442 348 1,350 May 21.. 1,153 6,802 904 1,529 480 470 2,592 496 240 441 347 1,352 May 28.. 1,152 6,873 904 1,519 479 469 2,578 492 241 438 344 1,347 1,146 7,067 915 1,529 479 468 2,588 489 239 435 341 1,343 1,156 6,933 926 1,520 483 466 2,609 496 243 442 338 1,354 ],148 7,069 928 1,525 479 465 2,649 501 242 435 335 1,351 1,153 7,078 926 1,529 473 466 2,588 504 239 434 331 1,337 July 2— 1,160 6,987 921 1,534 473 462 2,597 506 231 420 330 1,337 July 9— 1,162 6,837 932 1,529 472 459 2,640 516 229 431 329 1,333 July 16... 1,149 6,865 938 1,524 468 458 2,655 515 229 440 328 1,336 July 23— 1,139 6,860 931 1,510 464 455 2,664 512 225 433 328 1,332 July 30— 1,148 6,951 925 1,510 466 456 2,658 517 228 430 328 1,329 Aug. 6.,.. 1,144 6,929 932 1,508 469 454 2,633 518 230 431 328 1,329 Aug. 13... 1,138 6,896 937 1,499 467 449 2,617 519 234 430 329 1,342 Aug. 20-. 1,130 6,859 933 1,495 469 454 2,596 509 235 432 328 1,356 Aug. 27... 1,143 6,891 926 1,492 464 449 2,595 506 232 417 328 1,351 Sept. 3-_. 6,930 920 1,502 462 450 2,596 503 237 418 331 1,341 Sept. 10.. 6,828 944 1,508 467 451 2,607 513 246 427 332 1,345 Sept. 17- 6,862 941 1,507 467 452 2,630 511 247 424 337 1,365 Sept. 24.. 6,904 932 1,501 468 451 2,639 503 241 423 340 1,373 Oct. 1.— 7,090 908 1,498 468 453 2,588 498 242 419 340 1,339 Oct. 8.... 6,970 895 1,487 468 450 2,565 494 242 417 338 1,341 Oct. 15-. 7,018 882 1,492 468 451 2,591 492 242 414 340 1,342 Oct. 22... 6,893 882 1,496 467 450 2,570 492 244 410 341 1,339 Oct. 29... 6,959 888 1,486 467 446 2,564 490 244 408 342 1,336 6,980 887 1,484 469 450 2,552 485 245 410 339 1,345 6,863 892 1,485 467 449 2,550 485 243 414 337 1,345 6,910 887 1,489 466 451 2,553 484 240 411 336 1,337 6,828 888 1,484 465 452 2,494 478 237 410 334 1,336 6,812 895 1,487 463 452 2,496 476 237 412 332 1,332 6,737 891 1,493 461 448 2,499 472 233 412 330 1,339 6,545 878 1,503 464 452 2,518 477 240 412 327 1,340 6,581 884 1,482 461 451 2,466 480 233 408 329 1,326 6,687 883 1,475 450 436 2,444 483 233 409 329 1,320 Average: January 1,207 6,645 923 1,534 499 496 2,534 527 254 452 363 1,386 February.. 1,170 6,516 917 1,520 491 495 2,502 516 249 442 357 1,368 March 1,177 6,666 914 1,525 495 496 2,552 513 257 437 350 1,363 April 1,181 6,811 917 1,528 494 490 2,568 512 252 439 354 1,357 May 1,150 6,832 907 1,521 482 474 2,578 500 245 440 348 1,350 June 1,151 7,037 924 1,526 479 466 2,608 498 241 437 336 1,346 July 1,152 6,900 929 1,521 468 458 2,643 513 228 431 329 1,334 August 1,139 6,894 932 1,499 467 451 2,611 513 233 427 328 1,345 September. 1,140 6,881 934 1,504 466 451 2,618 507 243 423 335 1,356 October 1,143 6,986 891 1,492 468 450 2,576 493 243 414 340 1,340 November. 1,136 6,895 888 1,486 467 450 2,537 483 241 411 336 1,341 December - 1,109 6,673 886 1,488 460 448 2,485 477 235 411 329 1,331 Back figuresSee Annual Report for 1929 (Table 101) and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EEPORTING MEMBER BANKS IN EACH DISTRICT 197 No. 108.—REPORTING MEMBER BANKS—LOANS ON SECURITIES, BT 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 p d h h e i l i 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 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 r is a a c n n o - 1930 Jan. 8_ 533 3,508 505 740 189 152 1 247 251 86 127 113 455 Jan.15- 562 3,432 492 744 189 151 1,248 251 85 130 112 457 Jan 22 543 3.353 505 739 192 153 1,232 239 85 135 111 447 Jan. 29.. 530 3,322 494 734 188 162 1,242 235 85 132 110 447 Feb. 5 503 3.378 492 728 192 158 1,237 230 86 133 108 446 Feb. 12 504 3.380 488 727 192 159 1.220 233 89 136 109 446 Feb. 19 504 3,359 483 723 185 159 1,247 232 85 136 106 449 Feb. 26 498 3.343 477 723 188 162 1,244 233 86 138 106 444 Mar. 5 505 3.428 481 719 192 159 1,254 230 83 135 106 445 Mar. 12.- 504 3,543 473 717 196 164 1,274 233 89 136 108 446 Mar. 19.. 518 3,638 484 727 197 167 1,301 233 90 135 118 445 Mar. 26.. 526 3,755 482 759 200 164 1,288 229 87 130 116 447 Apr. 2 530 3,858 488 734 199 162 1,268 228 85 135 116 440 Apr. 9 533 3,743 485 737 201 161 1,283 232 82 147 121 437 Apr. 16 552 3,779 479 728 196 160 1,304 234 85 146 124 450 Apr. 23 551 3,894 484 740 197 158 1,274 230 85 143 119 450 Apr. 30 531 3,998 478 731 201 155 1, 253 231 91 140 119 453 May 7__ ._ 520 3,903 486 728 198 153 1,252 230 91 142 119 438 May 14 _ 513 3,887 478 732 197 155 1,257 228 94 145 116 444 Mar 21 518 3,943 472 744 193 152 1,285 220 88 142 117 451 May 28_ _ 530 4,045 472 732 194 152 1,282 220 89 140 116 449 June 4 519 4,232 475 743 195 151 1,296 206 88 138 114 441 June 11 523 4,109 485 752 202 150 1,314 216 90 147 112 457 June 18 510 4,196 487 742 196 148 1,322 220 89 136 108 453 June 25 513 4,149 480 747 185 144 1,279 225 87 132 102 436 July 2 525 4,116 479 745 184 148 1,280 229 80 119 98 430 July 9 531 3,962 489 744 185 147 1,322 240 79 130 99 432 July 16 524 3,977 487 754 186 148 1,316 240 81 140 99 445 July 23 512 3.986 489 738 185 146 1,333 234 78 132 100 440 July 30 510 4,032 486 734 181 149 1,324 236 80 127 98 433 Aug. 6 508 4,075 486 746 181 150 1 288 236 79 131 98 431 Aug. 13_- 503 4,021 481 737 177 151 1,282 234 78 133 99 452 Aug. 20- 498 3,965 479 738 178 153 1,278 225 79 136 98 461 Aug. 27 506 4,040 475 734 176 150 1,285 224 78 124 96 462 Sept. 3. 499 4,078 476 732 174 150 1,285 221 79 126 96 442 Sept. 10 502 3,966 492 743 178 151 1,306 229 79 133 99 446 Sept. 17 508 3,987 489 745 179 149 1,334 227 79 130 101 467 Sept. 24. 507 4,045 487 744 179 148 1,341 220 78 129 98 477 Oct. 1 509 4,197 460 736 175 145 1,276 215 79 124 95. 463 Oct. 8 494 4,060 456 725 175 143 1 250 212 79 122 95 451 Oct. 15.._ 486 4,037 451 723 174 146 1,281 211 78 117 95 452 Oct. 22 474 3,954 447 727 174 143 1,273 211 78 111 93 448 Oct. 29 476 3,901 447 718 173 142 1,271 209 79 112 93 444 Nov. 5-. 469 3,934 447 720 174 145 1,261 207 78 110 93 447 Nov 12 459 3,777 448 722 174 142 1,251 208 75 112 92 444 Nov. 19 451 3,748 442 721 174 140 1,244 203 77 110 92 437 Nov. 26-. 450 3,734 445 720 172 141 1,195 193 77 110 91 434 Dec. 3 451 3,734 450 723 171 140 1,197 193 77 111 93 429 Dec. 10 451 3,708 450 724 171 135 1,219 192 78 112 94 436 Dec. 17 450 3,644 452 735 175 137 1,231 198 84 111 95 436 Dec. 24 440 3,756 463 720 173 136 1,193 198 78 107 95 420 Dec. 31 454 3,828 476 706 171 130 1,150 206 79 108 95 412 Average: January 542 3,404 499 739 189 154 1,242 244 85 131 112 452 February.. 502 3,365 485 725 189 160 1,237 232 87 136 107 446 March 513 3,591 480 730 196 164 1,279 231 87 134 112 445 April _. 540 3,854 483 734 199 159 1,277 231 86 142 120 446 May- 520 3,945 477 734 196 153 1,269 224 90 142 117 445 June 516 4,171 482 746 195 148 1,303 217 88 138 109 447 July . 520 4,015 486 743 184 148 1,315 236 80 130 99 436 August 504 4,025 480 739 178 151 1,283 230 78 131 98 452 September- 504 4,019 486 741 177 149 1,317 224 79 130 99 458 October 488 4,030 452 726 174 144 1,270 212 78 117 94 452 November- 457 3,798 445 721 174 142 1,238 203 77 110 92 440 December.. 449 3,734 458 721 172 135 1,198 197 79 110 94 427 Back figures—See Annual Report for 1929 (Table 102) and Federal Reserve Bulletins for March and January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

198 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 109.—REPORTING MEMBER BANKS—"ALL OTHER" LOANS, BY WEEKS, WITH MONTHLY AVERAGES OP 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 l i 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 Ch g i o ca- L S ou t. is a M p n o i e n l - i - s K C s a i a t n s y - D la a s l- F c S r is a a c n n o - 1930 Jan 8 668 3,280 426 798 319 347 1,312 282 174 334 257 938 Jan 15 660 3,220 422 792 310 342 1,293 284 170 322 252 938 Jan 22 662 3,219 424 792 307 340 1,286 282 166 316 247 933 Jan. 29 672 3,248 425 798 305 339 1,275 284 163 311 249 927 Feb 5 666 3,207 432 795 303 339 1,265 285 162 308 254 922 Feb 12 677 3,179 434 796 302 335 1,266 288 158 306 251 919 Feb. 19 666 3,137 431 792 301 335 1,264 284 163 307 247 922 Feb 26 663 3,079 432 795 299 332 1,266 280 167 304 246 924 Mar 5 658 3,097 434 794 301 336 1,279 280 170 304 239 918 Mar 12 664 3,108 434 792 301 328 1,276 282 170 303 238 926 Mar 19 667 3,099 430 796 298 332 1,268 283 169 302 237 910 Mar 26 666 2,997 439 797 295 335 1,266 283 169 300 237 917 \pr 2 653 2,971 435 801 296 335 1,274 282 168 298 239 916 Apr. 9 648 2,969 437 798 298 334 1,285 282 170 294 235 916 Apr 16 641 2,942 434 793 296 329 1,286 282 166 296 232 910 Apr. 23 630 2,974 433 789 295 331 1,305 281 163 297 232 900 Apr. 30 635 2,928 430 787 288 329 1,305 278 163 297 233 910 May 7 633 2,933 427 790 287 326 1,319 277 159 298 233 912 May 14 628 2,928 429 787 285 322 1,314 276 155 297 231 906 May 21 636 2,859 432 786 287 319 1,308 276 152 299 230 901 May 28 622 2,828 432 787 285 317 1,295 272 152 298 228 898 June 4 627 2,835 440 786 283 317 1.292 283 151 297 227 902 June 11 633 2,824 441 768 281 316 1, 295 280 153 295 225 898 June 18 638 2,874 440 783 283 317 1,327 281 152 300 227 898 June 25 641 2,929 446 782 288 322 1,308 280 153 302 228 901 July 2 635 2,870 442 789 289 314 1,317 277 151 301 232 908 July 9 631 2,875 443 785 288 312 1,318 276 150 301 230 901 July 16 625 2,887 451 771 281 310 1,339 275 148 300 230 892 July 23 628 2,874 441 772 278 308 1,331 278 147 301 229 892 July 30.. 638 2,918 439 in 284 307 1,334 281 148 303 229 896 Aug. 6 636 2,855 445 762 288 303 1,346 282 151 300 230 898 Aug. 13 634 2,875 457 761 290 298 1,335 284 155 297 230 890 Aug. 20 632 2,893 454 757 291 301 1,318 284 156 296 230 895 Aug. 27. . . 637 2,851 451 758 288 299 1,311 281 154 293 232 889 Sept. 3 _ 639 2,852 444 770 289 300 1,311 282 158 292 235 899 Sept. 10 - 643 2,862 453 765 289 300 1,300 283 166 293 233 899 Sept. 17 631 2.876 451 702 287 302 1,296 283 167 294 236 898 Sept. 24 632 2,859 444 756 289 302 1,298 283 163 295 242 897 Oct. 1 662 2,893 448 762 293 308 1,312 282 163 295 245 876 Oct. 8 651 2,911 439 762 293 307 1,316 282 163 295 244 890 Oct. 15 647 2,981 430 770 294 305 1,310 281 164 297 245 890 Oct. 22 _. 659 2,939 434 769 293 307 1,297 280 166 299 247 891 Oct. 29 657 3,058 441 768 293 305 1,294 281 165 296 249 893 Nov. 5 692 3,046 440 763 295 305 1,291 278 166 300 246 898 Nov. 12 . 679 3,086 444 763 293 307 1,299 277 167 302 245 901 Nov. 19 676 3,162 445 768 293 310 1,309 281 164 301 243 899 Nov. 26-- 670 3,093 443 765 293 310 1,300 285 161 301 243 902 Dec. 3 . . 669 3,078 446 765 292 312 1,299 283 160 302 239 903 Dec. 10 662 3,029 440 769 289 313 1,280 280 155 301 236 903 Dec. 17 651 2,901 426 768 289 315 1,288 279 156 302 233 904 Dec. 24 658 2,826 422 761 288 315 1,272 282 155 301 234 906 Dec. 31 661 2,859 407 769 280 307 1,294 277 154 301 234 908 Average: January 665 3,242 424 795 310 342 1,291 283 168 321 251 934 February... 668 3,151 432 794 202 335 1,265 284 162 306 250 922 March 663 3,075 434 795 299 333 1,272 282 170 302 238 918 April 641 2,957 434 794 295 332 1,291 281 166 296 234 911 May 630 2,887 430 788 286 321 1,309 275 155 298 231 904 June 635 2,866 442 780 284 318 1,306 281 152 298 227 900 July 631 2,885 443 779 284 310 1,328 277 149 301 230 898 August 635 2,868 452 759 289 300 1,327 283 154 296 231 893 September.. 636 2,862 448 763 289 301 1,301 283 164 293 237 898 October 655 2,956 439 766 293 306 1,306 281 164 296 246 888 November. 679 3,097 443 765 293 308 1,300 280 165 301 244 900 December.. 660 2,938 428 766 288 312 1,287 280 156 301 235 905 Back figures.—See Annual Report for 1929 (Table 103) and Federal Reserve Bulletins for March antf Digitized foJra FnuRaAryS, E19R29 . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

199 REPORTING MEMBER BANKS IN EACH DISTRICT No. 110.—REPORTING MEMBER BANKS—INVESTMENTS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District Cleve- i Rii o cc n hh d -- Atl t a a n-Ch g ic o a- 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 - D l a a l s - F c S r i a s a c n n o - 601 154 124 662 149 116 213 104 570 602 153 125 660 148 116 213 104 572 602 154 124 657 149 116 211 104 570 606 155 124 658 150 116 211 104 571 607 154 125 649 150 114 214 104 571 605 155 124 646 149 116 212 105 569 610 156 123 649 149 116 213 106 573 611 155 124 648 149 116 213 106 571 155 122 659 148 117 212 106 562 152 122 656 150 116 214 106 582 162 129 644 154 117 208 115 605 156 126 650 154 117 208 113 602 Apr. 2 162 129 655 153 120 209 113 607 Apr. 9 159 130 662 154 119 215 113 612 Apr. 16 158 130 667 153 118 216 111 613 Apr. 23 159 129 670 153 118 221 110 61& Apr. 30 157 129 670 155 110 217 111 622 May 7 157 131 670 156 113 217 110 618 May 14 161 130 678 160 116 219 109 615 May 21 162 131 675 182 118 218 110 615 May 28 164 138 670 204 119 218 109 616 June 4 164 132 680 177 123 220 109 61& June 11 162 131 689 161 122 219 109 616 June 18 176 136 697 157 122 218 114 621 June 25 177 136 709 155 122 217 115 621 July 2. 326 180 135 731 152 125 220 113 615 July 9 325 177 134 722 155 126 220 112 616- July 16. 325 176 135 745 154 124 220 110 627 July 23. 325 | 179 135 738 155 125 222 110 616 July 30 330 ! 182 135 744 152 124 222 109 613 Aug. 6 185 136 760 153 124 222 108 619 Aug. 13 183 135 773 154 121 220 108 619 Aug. 20. 184 138 799 157 121 227 107 624 Aug. 27 186 137 791 157 121 229 107 622 Sept. 3 186 137 793 156 126 233 105 621 Sept. 10. 183 139 787 159 127 236 105 623 Sept. 17. 193 152 769 158 125 238 115 623 Sept. 24 191 151 780 159 127 238 115 633 Oct. 1 191 150 794 160 130 239 116 633 Oct. 8 187 150 787 160 130 242 117 63g Oct. 15 191 150 797 161 130 246 118 636 Oct. 22. 193 149 810 165 129 249 118 644 Oct. 29. 190 149 812 165 130 250 118 651 Nov. 5 188 146 807 164 129 249 118 637 Nov. 12 189 145 834 166 126 250 117 649 Nov. 19 188 144 835 162 127 246 118 652 Nov. 26 186 144 848 166 131 245 117 662 Dec. 3 185 141 853 166 131 244 116 664 Dec. 10. 182 144 863 166 132 244 114 662 Dec. 17. 184 153 897 163 131 241 122 671 Dec. 24. 183 151 884 166 131 242 120 660 Dec. 31. 179 140 868 167 131 253 115 634 Average: January.... 603 154 124 659 149 116 212 104 571 February- 608 155 124 648 149 115 213 105 571 March 623 156 125 652 152 117 211 110 588 April. 649 159 130 665 154 117 216 112 614 May 653 161 132 673 176 116 218 109 616 June 687 170 134 694 163 122 218 112 619 July.. 755 179 135 736 154 125 221 111 617 August 778 185 136 781 155 122 225 107 621 September. 793 188 145 782 158 126 236 110 625 October 791 191 149 800 162 130 245 117 640 November. 760 188 145 831 165 128 248 117 650- December. 741 183 146! 873 166 131 245 117 658 Back figures—See Annual Report for 1929 (Table 104) and Federal Reserve Bulletin for January, 1929. 33454—31 14 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

200 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 111.—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 p d h h e i l i l - a a- C l l a e n v d e- m Ri o c n h d - l A an t- ta c C a h g i o - L S ou t. is a M p n o e in l - i - s K C s a a it n s y - D la a s l- F c S r is a a c n n o - 1930 -Jan 8 951 6,058 726 1,006 353 330 1,837 388 223 485 291 772 Jan.15 952 6,033 714 1,008 353 334 1,823 391 221 494 291 778 Jan. 22 911 5,886 701 1,003 360 334 1,811 378 215 489 286 760 Jan 29 900 5,794 693 1,003 347 335 1,789 374 212 474 286 743 Feb 5 901 5,871 704 1,002 351 332 1,775 370 208 471 287 739 Feb. 12 916 5,802 703 998 353 330 1,766 373 210 476 286 766 Feb 19 901 5,785 699 1,002 345 330 1,797 370 211 479 280 757 Feb. 26 . .. 879 5,816 686 998 346 330 1,795 372 216 482 284 740 Mar. 5 887 5,787 714 1,009 354 327 1,812 367 225 474 281 701 Mar 12 893 5,871 706 1,015 353 331 1,849 379 230 489 282 753 Mar. 19 897 5,877 701 1,015 347 319 1,835 378 225 479 284 719 Mar 26 891 5,920 700 1,043 351 324 1,835 378 222 479 333 727 Apr. 2 917 6,029 725 1,040 351 328 1,851 377 222 480 286 723 Apr. 9 899 5,896 723 1,036 354 328 1,867 380 222 486 289 728 Apr 16 919 5,979 711 1,042 347 337 1,906 386 222 498 295 742 Apr. 23 908 6,120 711 1,042 346 328 1,899 375 218 490 289 729 A or 30 924 6,252 705 1,036 342 327 1, 900 372 223 484 287 728 May 7 892 6,014 715 1,041 344 331 1,897 378 222 485 287 723 May 14 890 6,070 715 1,052 347 326 1,927 382 223 497 .289 751 May 21 887 6,050 701 1,070 342 318 1,940 366 215 485 290 726 May 28 877 6,118 702 1,069 340 313 1,911 363 219 480 283 714 June 4 879 6,263 729 1,093 349 316 1,920 366 227 483 285 722 June 11 894 6,201 744 1,112 348 317 1,955 376 229 488 280 741 June 18 877 6,221 740 1,098 339 308 1,955 375 226 489 274 738 June 25 874 6,262 726 1,104 340 308 1,873 374 225 477 274 729 July 2 . . 914 6,298 740 1,136 343 316 1,913 369 217 480 278 735 July 9 . 896 6,095 745 1,141 344 315 1,955 380 218 483 276 739 July 16 918 6,176 766 1,170 352 312 1,942 376 221 499 280 771 July 23 ._ 900 6,224 747 1,147 347 311 1,924 371 217 488 274 742 July 30 890 6,310 747 1,161 348 309 1,942 373 217 495 268 736 Aug. 6 895 6,185 751 1,138 356 311 1,932 375 216 492 266 749 Aug. 13 878 6,181 754 1,147 352 313 1,933 378 221 506 274 769 Aug. 20 881 6,145 752 1,144 350 311 1,941 371 218 491 273 750 Aug. 27 878 6,214 743 1,143 351 311 1,906 369 215 479 269 730 Sept. 3 _. 889 6,199 743 1,147 352 315 1,912 369 225 484 272 723 Sept. 10 887 6,153 776 1,158 353 315 1,929 377 234 488 279 751 Sept 17 871 6,131 763 1,145 348 311 1,917 371 232 487 285 757 Sept. 24._. 868 6,160 744 1,133 348 312 1,876 366 227 479 279 748 Oct. 1 917 6,366 759 1,133 352 313 1,873 360 227 489 280 743 Oct. 8 882 6,197 757 1,111 348 313 1,852 355 231 493 279 738 Oct. 15 909 6,251 744 1,125 352 317 1,920 361 232 510 289 757 Oct. 22.. .. 894 6,315 745 1,113 349 310 1,889 355 232 490 280 739 Oct. 29 886 6,498 738 1,089 342 306 1,880 359 234 484 277 737 Nov. 5.. 929 6,395 745 1,097 348 315 1,898 359 236 477 282 748 Nov. 12 933 6,498 752 1,105 354 316 1,937 363 234 495 283 779 Nov. 19 912 6,579 737 1,086 344 310 1,901 355 233 475 282 759 Nov. 26 881 6,558 737 1,082 344 306 1,878 356 235 464 279 762 Dec. 3_ 891 6,504 764 1,082 344 306 1,807 365 228 467 281 767 Dec. 10 883 6,515 764 1,080 345 305 1,922 369 224 466 277 765 Dec. 17 870 6,438 756 1,066 339 299 1,911 374 221 468 276 752 Dec. 24 857 6,398 750 1,062 329 299 1,855 376 215 463 271 729 Dec. 31 8S6 6,663 767 1,070 332 303 1,872 393 207 476 269 751 Average: January 928 5,943 709 1,005 353 333 1,815 383 218 486 289 763 February... 899 5,818 698 1,000 349 331 1,783 371 211 477 287 750 March 892 5,864 705 1,021 351 326 1,833 376 226 480 295 725 April 913 6,055 715 1,039 348 329 1,885 378 221 488 289 730 May 886 6,063 708 1,058 343 322 1,919 372 220 487 287 729 June 881 6,237 735 1,102 344 312 1,926 373 227 485 278 733 July . .. 904 6,221 749 1,151 347 313 1,935 374 218 489 275 745 August 883 6,181 750 1,143 352 311 1,928 373 217 492 270 749 September. 879 6,161 756 1,146 350 313 i 1,909 371 230 484 279 745 October 898 6,325 749 1,114 349 312 1,883 358 231 493 281 743 November.. 914 6,508 743 1,092 347 312 1,904 358 235 478 282 762 December.. 879 6,504 760 1,072 338 303 i 1,893 375 219 468 275 753 Back figures.—Sse Annual Report for 1929 (Table 105) and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REPORTING MEMBER BANKS IN EACH DISTRICT 201 No, 112.—REPORTING MEMBER BANKS—TIME DEPOSITS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollarsl Federal Reserve District B t o o s n - Y N o e r w k ™ p ' h a i - a |Cl l e a v n e d - m Ri o c n h d - lanta C ca h g i- o Louis a M p n i o e l n - i - s K C s a i a t n s y - al- F c S r i a a sc n n o - 1930 Jan. 8 461 1,822 274 936 235 227 1,172 229 132 170 136 1,014 Jan. 15 491 1,828 280 932 235 226 1,174 227 132 170 137 1,022 Jan. 22 493 1,847 294 I 942 235 235 1,178 227 133 172 137 1,021 Jan. 29 492 1,829 293 945 239 240 1,180 231 133 173 139 1,020 Feb. 5... 478 1,799 295 942 239 242 1,177 229 133 174 145 1,010 Feb. 12 477 1,787 296 948 240 240 1,177 229 134 173 146 1,008 Feb. 19 478 1,790 297 946 239 241 1,174 229 134 174 144 1,006 Feb. 26 479 1,796 297 950 239 241 1,183 229 134 175 143 1,009 Mar. 5 474 1,810 285 946 240 243 1,196 230 130 176 143 1,015 Mar. 12 475 1,867 287 940 240 243 1,200 230 131 176 143 1,015 Mar. 19 478 1,876 293 948 241 241 1, 201 231 132 177 144 1,014 Mar. 26 488 1,921 292 982 241 244 1,209 231 133 180 145 1,020 Apr. 2 477 1, 933 286 981 245 243 1,210 231 133 178 146 1,024 Apr. 9 492 1,929 286 | 983 243 242 1, 208 231 131 178 148 1,027 Apr. 16 .... 491 1,904 297 ! 966 246 244 1,210 229 131 177 146 1,025 Apr. 23 491 1,891 299 965 247 244 1,188 230 131 178 146 1,025 Apr. 30 477 1, 909 302 ! 241 243 1,193 231 131 178 150 1,030 May 7 479 1,947 298 966 j 242 242 1,195 230 129 179 149 1,023 May 14,_ 482 1, 950 297 966 247 243 1,202 229 129 180 150 1,024 May 21 492 1,947 304 968 250 243 1,207 232 129 180 149 1,032 May 28 502 1,966 304 969 j 250 244 1, 206 231 128 180 151 1,027 June 4 500 1,951 307 971 j 249 244 1,219 227 128 180 152 1,033 June 11 501 1,974 309 253 244 1,219 226 128 182 152 1,024 June 18 506 2,033 309 250 245 1,214 226 129 185 153 1,011 June 25 506 2,035 310 969 251 245 1,242 227 128 193 151 1,016 July 2 510 1,988 317 985 249 244 1,304 229 128 192 151 1,016 July 9 513 1,986 318 988 251 242 1,310 234 129 192 151 1,011 July 16 512 2,007 319 988 245 243 1,373 235 129 193 152 1,005 July 23.— 513 1,999 322 998 248 242 1,354 244 129 193 152 1,007 July 30 515 1, 992 328 1,001 247 244 1,317 238 129 186 151 1,005 Aug. 6_ 515 1,975 330 1,008 251 243 1,325 237 130 188 151 1,004 Aug. 13. 518 2,004 332 1,016 253 242 1,319 238 131 189 151 1,001 Aug. 20 520 2,001 334 1,015 253 244 1,314 238 131 190 151 1, 019 Aug. 27 526 2,010 335 1,015 253 242 1,322 239 130 192 151 1,023 Sept. 3 525 1,997 335 1,021 255 242 1,344 240 132 208 150 1,022 Sept. 10 527 2,005 334 1,027 256 241 1,341 239 133 209 149 1,016 Sept. 17 531 1,969 341 1,037 256 241 1,336 239 133 210 148 1,007 Sept. 24 531 1,982 341 1,037 256 241 1,345 235 139 210 148 1,024 Oct. 1 526 2,016 353 1,034 257 241 1,346 236 141 207 148 1,029 Oct. 8 534 2,045 350 1,023 257 241 1,343 235 140 197 149 1,026 Oct. 15 534 2,052 349 1,022 256 240 1,341 236 141 195 153 1,016 Oct«22 532 2,095 350 1,021 257 239 1,325 236 141 195 153 1,016 Oct. 29 538 2,082 361 1,022 257 239 1,333 236 141 196 152 1,020 Nov. 5 _ 541 2,053 362 1,018 257 239 1,323 236 142 199 152 1,025 Nov. 12 536 2,046 369 1,025 257 245 1,318 235 143 199 153 1,027 Nov. 19 540 2,000 369 1,021 254 237 1,318 233 146 199 153 1,015 Nov. 26 537 1,997 373 1,013 252 235 1,315 241 146 198 151 1,028 Dec. 3 535 1,927 366 1,010 248 234 1,297 233 152 197 150 1,023 Dec. 10 530 1,911 365 1,010 245 234 1,300 232 151 197 150 1,030 Dec. 17..._ 523 1,763 361 1,005 243 230 1,300 229 151 195 148 1,032 Dec. 24 520 1,756 356 241 230 1,284 227 150 195 147 1,027 Dec. 31 509 1,741 351 241 229 1,265 226 148 190 147 1,037 Averages: January 484 1,831 285 236 232 1,176 229 132 171 137 1,019 February._ 478 1,793 296 946 239 241 1,178 229 133 174 145 1,008 March 479 1,868 289 954 240 243 1,201 230 132 177 144 1,016 April 486 1,913 294 973 245 243 1,202 230 131 178 147 1,026 May 488 1,953 301 967 247 243 1,202 231 129 180 150 1,026 June 503 1,998 309 970 251 244 1,224 226 128 185 152 1,021 July 512 1,994 321 992 248 243 1,332 236 129 191 151 1,009 August 520 1,998 333 1,,013 253 243 1,320 238 131 190 151 1,012 September . 528 1,988 338 1,,031 256 241 1,342 238 134 209 149 1,017 October 533 2,058 353 1,,024 257 240 1,338 236 141 198 151 1,021 November- 539 2,024 368 1,,019 255 239 1,319 236 144 199 152 1,024 December.- 524 1,820 360 1,000 244 232 1,289 229 150 195 148 1,030 Back figures.—See Annual Report for 1929 (Table 106) and Federal Reserve Bulletin for January. 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

202 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 113.—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 ew rk P p h d h i e i l la - a - Cl l e a v n e d - m Ri o c n h d - At t l a an-Ch g i o c a- Lo St ui . s a M p n i o e n l - i - s K C s a i a n t s - y D l a a l s - F c S r i a a s n c n o - 1930 Jan. 8-... 106 79 128 40 251 ! 45 26 33 114 Jan. 15...- 102 826 79 124 41 246 46 23 33 107 Jan. 22 101 807 77 128 43 257 45 27 33 112 Jan. 29 792 77 126 40 249 45 25 34 108 Feb. 5 809 78 129 40 245 23 33 108 Feb. 12 101 800 76 127 39 243 24 32 114 Feb. 19 98 805 77 131 i 40 239 25 34 110 Feb. 26 97 845 75 124 ! 39 246 25 33 109 Mar. 5 97 788 81 129 | 40 249 27 37 102 Mar. 12 101 818 77 130 I 40 257 26 34 108 Mar. 19 97 778 79 121 40 244 26 33 > 97 Mar. 26 814 77 130 40 251 j 26 39 103 Apr. 2 826 81 133 39 259 24 33 105 Apr. 9 813 78 129 40 253 ! 25 33 105 Apr. 16 99 824 77 i 132 38 ! 40 263 27 33 105 Apr. 23 811 80 120 38 40 269 27 34 106 Apr. 30 849 78 130 40 j 41 281 26 34 99 May 7. 805 79 135 41 43 260 27 34 107 May 14 - 101 825 82 128 41 41 270 25 33 108 May 21-_ 96 828 78 138 42 39 271 25 35 105 May 28 - 92 848 72 137 38 39 256 26 34 101 June4 95 845 83 138 42 40 264 27 33 106 June 11 859 82 136 40 39 266 26 32 108 Junel8__ 851 83 141 39 40 267 27 31 104 June 25 94 857 81 142 40 39 261 i 25 33 104 July 2 105 864 j 83 141 40 ! 39 | 260 I 44 23 I 56 33 104 July 9 98 829 j 82 146 42 | 41 ' 288 ; 43 24 I 57 33 107 July 16. 100 878 ! 90 145 42 ! 40 274 45 26 j 58 34 107 July 23 98 81 142 40 j 39 266 26 I 60 34 105 July 30.— 96 82 144 40 i 38 268 23 60 32 102 Aug. 6- - 98 814 80 141 43 ! 36 282 25 32 105 Aug. 13 - 100 852 83 141 41 ' 38 273 24 32 104 Aug. 20_ - 98 847 85 147 42 ; 40 279 25 34 110 Aug. 27 95 870 82 143 39 | 39 278 24; 33 109 Sept. 3 97 831 84 147 42 | 41 271 27 34 104 Sept. 10 98 363 86 147 41 ! 39 268 26 35 113. Sept. 17 99 877 87 144 41 ! 39 275 26 35 Ill Sept. 24 97 886 84 141 40 j 40 262 26 36 105 Oct. 1 99 863 85 138 42 j 38 255 44 25 33 108 Oct. 8 100 859 84 141 40 ! 40 269 ! 41 28 33 111 Oct. 15- 102 860 83 147 41 i 38 279 ! 45 27 37 110 Oct. 22 — 101 886 85 144 40 ! 39 267 I 42 27 33 106 Oct. 29 .- 98 942 | 84 146 40 | 36 43 29 34 105 Nov. 5. 99 857 | 85 141 40 ! 39 269 43 28 32 102 Nov. 12 105 , 930 88 136 39 i 36 277 44 28 33 110 Nov. 19 107 I 85 139 40 ! 39 264 42 27 33 110 Nov. 26 98 1 82 138 40 : 37 263 ! 43 27 34 109 Dec. 3 99 I 867 88 139 41 I 39 272 | 45 I 27 34 111 Dec. 10 99 905 89 139 38 i 39 270 46 ! 26 32 112 Dec. 17 --- 100 I 904 86 136 40 i 38 275 46 i 28 35 110 Dec. 24 97 | 848 82 136 38 j 39 265 45 ; 25 33 108 Dec. 31 107 i 921 134 39 \ 40 287 ! 45 ; 24 32 107 I Ave J r a ag n e u s a : ry 102 j 808 78 127 41 ! 41 i 251 | 45 : 25 ! 33 110 J J N A D A M S F M O u u e e u o e p c n l a a p b c t y g r v y r e o t i e r u c e e l b u m h m s m e a t r b b r b e y e e r . r r . _ . - _ 1 1 1 1 9 9 9 0 0 0 0 8 6 8 0 0 2 0 I | 8 8 8 8 8 8 8 8 8 8 5 2 2 0 4 1 6 7 9 8 3 6 5 0 6 5 4 0 2 2 8 8 8 8 7 7 7 8 8 7 2 5 4 5 6 8 8 2 4 9 ' ! 1 1 1 1 1 1 1 1 1 1 1 3 2 3 4 4 4 4 3 3 2 2 9 9 4 3 4 5 3 7 8 8 8 4 4 4 4 3 4 4 4 3 4 3 0 0 0 0 9 1 1 1 9 1 9 i i I ! i : i : 4 3 4 4 3 3 3 3 3 3 3 0 9 0 9 9 8 9 8 8 9 0 , ! i | | ! ! i 2 2 2 2 2 2 2 2 2 2 2 7 6 5 6 6 4 6 7 7 6 69 1 4 0 8 5 3 4 8 4 7 I ! I ! j 4 4 4 4 4 4 4 4 4 4 4 6 5 4 5 4 6 3 5 3 3 5 ! • ; ! ! ! 2 2 2 2 2 2 2 2 2 2 2 4 6 6 4 6 6 5 6 7 8 6 | j I i 1 i ! i j 3 3 3 3 3 3 3 3 3 3 3 3 4 3 3 6 2 3 5 3 3 4 1 1 1 1 1 1 1 1 1 1 0 0 1 0 0 0 0 0 0 0 3 8 0 8 8 5 4 7 5 6 Back figures.—See Annual Report for 1929 (Table 107) and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

203 REPORTING MEMBER BANKS IN EACH DISTRICT Ho. 114.—REPORTING MEMBER BANKS—BORROWINGS AT FEDERAL RESERVB BANKS, BY WEEKS, WITH MONTHLY AVERAGES OF WEEKLY FIGURES [In millions of dollars] Federal Reserve District ! B to o n s- Y Ne o w rk - 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 - At t l a an- Ch g i o ca- L S o t u . is a M p n o i e n - l - is 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 - 1930 Jan. 8 6 94 17 50 18 25 59 8 7 21 12 2" Jan. 15 4 35 11 51 14 23 53 5 2 14 9 Jan. 22 5 55 13 42 8 19 42 5 3 12 7 1( Jan. 29 . .. 9 32 12 36 8 16 46 3 2 13 8 i Feb 5 5 17 11 33 9 15 45 4 14 7 1 Feb.12 5 47 14 34 7 14 36 4 15 6 I Feb. 19 _ 6 58 12 31 9 12 28 6 1 8 10 Feb. 26 8 25 16 30 8 12 24 5 10 6 I Mar. 5 6 9 8 23 7 14 26 3 10 6 It Mar 12 7 6 9 20 6 12 17 3 5 5 Mar 19 4 4 5 12 5 7 6 3 3 2 Mar. 26 4 9 4 14 4 3 3 2 3 1 1 Apr. 2 5 27 5 15 4 4 3 2 2 1 1C Apr. 9 4 38 4 13 3 2 2 2 2 1 Apr. 16 3 22 4 13 5 3 8 3 2 2 ] Apr. 23 2 12 4 10 4 8 6 3 1 2 1 Apr. 30 3 17 4 7 7 10 7 4 1 4 1 t May 7 4 32 4 9 6 9 7 1 1 3 2 May 14 6 5 4 9 4 8 4 3 4 1 May 21 2 4 4 4 9 5 5 4 1 May 28 4 22 5 8 2 11 4 4 4 1 June 4 3 23 3 4 5 14 5 5 3 1 1 June 11 4 g 3 7 4 11 3 3 4 2 ] June 18 4 1 2 7 4 9 2 6 2 1 1 June 25 4 8 3 14 6 7 4 4 2 2 J July 2 4 18 5 16 8 11 6 3 1 2 2 1( July 9 4 20 4 13 5 10 4 3 2 2 July 16 3 8 2 9 3 10 4 3 1 2 July 23 1 5 1 3 4 7 3 4 1 3 July 30 1 10 1 5 3 7 3 1 3 ] Aug 6 1 24 1 4 6 7 3 1 3 1 Aug. 13 2 12 1 4 4 8 2 2 3 ] Aug. 20 2 12 1 3 7 9 2 4 3 ] Aug. 27 4 9 1 5 5 8 3 1 3 Sept. 3 3 42 1 5 5 11 3 4 3 1 Sept. 10 1 5 3 3 4 11 1 4 2 1 Sept. 17 2 3 1 2 4 7 1 5 2 Sept. 24 .. 3 5 4 4 8 1 5 2 1 Oct. 1 . 2 3 1 7 4 10 7 7 1 1 1 Oct. 8 2 4 1 8 4 8 4 5 2 Oct.il5 1 36 1 11 5 9 3 5 1 3 Oct. 22 .. 1 11 2 13 6 9 2 7 1 2 2 2 Oct. 29 2 16 3 11 6 8 4 5 2 3 1 Nov. 5 1 33 3 10 6 9 5 3 4 3 2 Nov. 12 1 12 3 11 6 10 3 6 4 2 2 Nov. 19... . 2 10 2 10 10 14 3 5 4 2 1 Nov. 26 3 13 2 15 16 15 4 3 a 3 3 Dec. 3 . . 2 21 2 18 12 18 5 2 7 2 Dec. 10 2 37 3 16 14 17 5 1 7 2 2 Dec. 17 3 38 2 25 16 15 7 3 5 1 44 Dec. 24 .. 8 89 13 29 20 16 14 3 6 2 49 Dec. 31 . . 2 17 5 19 8 12 8 1 7 1 11 Averages: January 6 54 13 45 12 21 50 5 4 15 9 13 February.. 6 37 13 32 8 13 33 5 12 7 7 March 5 7 6 17 5 9 13 3 5 3 6 April _. 4 23 4 12 4 6 5 3 2 1 6 May 5 15 4 7 4 9 5 3 4 1 2 June 4 9 3 8 5 10 4 4 3 1 2 July 3 12 2 9 5 9 4 3 1 2 2 August 2 14 1 4 5 8 2 2 3 1 September. 2 14 1 4 5 9 2 5 2 1 October 2 14 2 10 5 9 4 6 1 1 2 1 November. 2 17 3 11 10 12 4 4 5 2 2 December.. 3 40 5 22 14 16 8 2 6 2 23 .Bacfc figures.—See Annual Report for 1929 (Table 108) and Federal Reserve Bulletin for January, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

204 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD BANKERS' BALANCES OF REPORTING MEMBER BANKS, BY DISTRICTS No. 115.—REPORTING MEMBER BANKS—DUE TO BANKS, BY MONTHS, 1929 1930 (1929-30 BASIS) [Monthly averages of weekly figures. In millions of dollars] Federal Reserve District Month B t o o s n - Y N o ew rk P p h h i i 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 - TL ^a o +: m ,_ s ! n M e U ap i s n o - - i | ! C K sa i a t s y n- las ! Cisco 1929 January •_ 120 1,071 178 223 108 ! 123 471 148 89 i 224 117 ! 202 February 110 1,008 163 214 ' 103 ; 117 459 143 85 i 220 108 j 190 March 106 971 153 207 100 I 119 477 130 90 | 210 99 i 198 April 110 930 155 201 ! 97 | 108 448 118 78 i 190 86 j 186 May 107 869 153 194 I 90 ! 96 429 109 70 ! 178 78 | na J J A S N D O u u e o e c u n l p c t v y g e o t e e e . u b m m m s e t b r b b . e e e r r r __ 1 1 1 1 1 1 1 1 0 0 4 2 1 2 5 6 8 0 9 7 8 1 1 1, , , 1 0 8 8 9 9 0 8 8 4 5 8 9 3 8 1 4 1 2 2 6 1 1 1 1 1 1 1 5 6 7 5 7 5 6 8 2 0 5 1 3 0 2 1 1 1 1 1 1 9 8 0 8 9 9 8 7 9 2 8 8 9 9 I ! I ' 1 1 1 9 8 9 9 0 0 0 1 3 9 2 1 3 3 ! ! ! I i 1 1 1 8 8 9 9 1 1 1 7 8 9 4 1 1 0 4 4 4 4 4 4 4 1 2 3 3 3 4 3 7 3 4 2 3 0 2 1 1 1 1 1 1 1 0 0 0 0 2 2 2 6 6 6 2 5 5 4 8 8 7 7 7 7 7 3 2 0 9 7 4 7 i ! ; : ! | I 2 2 2 2 2 1 2 0 0 0 0 1 2 8 1 9 2 4 5 0 2 1 1 1 8 7 0 7 7 0 0 7 6 6 1 5 1 0 i I i | i i i 1 1 1 1 1 2 1 8 8 8 8 8 0 8 8 1 8 7 8 7 3 - 1930 January— 125 992 167 197 99 119 422 134 76 - 203 92 i 202 February 122 963 171 208 96 113 431 131 75 : 203 98 ! 206 March _ 117 1,013 169 217 97 111 462 123 81 : 199 91 j 219 April 130 1,049 173 232 98 109 459 121 78; 190 89 | 215 May 118 164 246 96 100 456 117 73 j 186 86 j 229 June 125 176 277 98 97 482 121" 80 195 87 I 243 July 138 .,186 208 335 110 99 512 129 80 | 231 91 ! 285 August 129 ,082 220 343 108 97 518 126 82 : 246 92 292 September 130 .,159 227 371 i 113 104 528 125 89 ! 244 109 306 October. _ 141 ,235 234 357 119 108 502 126 85; 223 119 297 November 147 .,279 222 330 119 104 494 123 90 j 218 118 28ft December 134 ,254 225 299 106 490 117 84 ; 209 114 262 No. 116.—REPORTING MEMBER BANKS—DUE FROM BANKS, BY MONTHS, 19291 AND 1930 (1929-30 BASIS) [Monthly averages of weekly figures. In millions of dollars] Federal Reserve District Month 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 t nt - a c C a h g i o - L s o t uis n M ea li i p s n o - - K C s a i a t n s y - U la tt s l* F c S i r s a a c n n o - 1929 January 162 66 106 54 86 235 59 51 » 67 149 February 148 59 107 51 82 234 54 49 118 64 142 March __ 161 57 103 50 81 232 57 47 118 64 143 April. 154 62 98 48 77 242 56 46 109 58 13d May 136 62 92 46 70 210 54 46 105 55 135 June - 151 59 93 47 71 204 52 49 108 53 149 July ._ 154 59 96 49 67 209 51 53 119 52 153 August.— 129 55 90 46 65 205 45 51 119 50 145 September 147 59 93 48 74 212 52 54 117 59 156 October... 178 60 96 52 79 219 64 54 123 63 155 November 172 60 95 53 82 219 62 54 126 59 156 December _ 139 62 91 i 53 I 78 204 61 52 127 62 177 1930 January... 52 117 60 92 i 191 119 58 | 168 February - 45 115 57 91 ! 220 59 | 119 63 I 167 March 50 136 61 97 213 56 i 127 79 | 164 April 61 165 63 104 203 56 i 122 70 162 May 54 157 64 110 197 54 121 73 I 175 June 61 159 75 117 215 62 : 144 82 j 183 July 67 170 99 141 295 70 ! 183 93 223 August 66 150 97 131 253 65 ! 200 90 I 228 September 73 157 92 142 281 70 S 211 105 | 235 October.. 86 174 95 134 271 81 | 195 108 ! 220 November 113 161 105 140 273 82 j 179 101 i 211 December 87 164 90 115 257 85 ! 162 103 204 Digitized for FBaRcAk fSigEuRre s.—See Annual Report for 1929 (Tables 109 and 110). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 205 BANK SUSPENSIONS No. 117.—BANKS SUSPENDED AND REOPENED, BY DISTRICTS, 1930 Banks suspended Banks reopened Class of bank and Federal reserve district Number Capital i Deposits Number Capital 2 Deposits All banks, total 1,345 i$lll,643,000 $864,715,000 147 2$6,802,000 $61, 599,000 Boston 112 2, 290,000 36,158,000 21 4, 867,000 New York 11 28 488,000 187, 299,000 Philadelphia 10 6,605,000 43,421,000 Cleveland 41 3,900,000 41,866,000 2 150,666 1,344,000 Richmond 152 9,633,000 85, 640,000 12 667,000 5,416,000 Atlanta 140 10,402,000 91,151,000 16 907,000 4, 534,000 Chicago 266 15,088,000 111,279,000 27 1,730,000 17, 271,000 St. Louis 358 23, 591,000 182,236,000 52 2, 249,000 16,140,000 Minneapolis 156 3,457,000 24,109,000 7 270,000 2,851,000 Kansas City 137 3, 762,000 28,926,000 25 699,000 7, 824,000 Dallas . 41 2,131,000 16,485,000 4 115,000 1,094,000 San Francisco 21 2,296,000 16,145,000 1 15,000 258,000 Member banks, total 187 50,410,000 380,440,000 7 450,000 3, 538,000 Boston I 100,000 852,000 New York 25, 580,000 162,437,000 Philadelphia 150,000 352,000 Cleveland 9 850,000 10,940,000 I" Richmond 22 2, 770,000 21, 584,000 25,000 397,000 Atlanta 22 3,300,000 31,883,000 1 50,000 133,000 Chicago 32 3, 270,000 26, 666,000 2 190,000 1,439,000 St. Louis 43 10, 985,000 96,024,000 2 85,000 559,000 Minneapolis ,. _. 16 445,000 3, 515,000 1 100,000 1,010,000 Kansas City 15 795,000 7,912,000 Dallas 17 1,415,000 12,158,000 San Francisco 5 750,000 6,117,000 National bank members, total 161 19, 675,000 173, 290,000 5 310,000 1,872,000 Boston 1 100,000 852,000 New York 2 230,000 1,158,000 Philadelphia 1 150,000 352,000 Cleveland 8 800,000 10,423,000 Richmond _ 21 2, 670,000 21, 012,000 1 25.666 397,000 Atlanta 17 3,030,000 30,511,000 1 50,000 133,000 Chicago 28 2, 770,000 21,241,000 1 150,000 783,000 St. Louis _. 34 6, 795, 000 59,458, 000 2 85, 000 559,000 Minneapolis 15 420,000 3,134, 000 Kansas City 15 795, 000 7, 912, 000 Dallas 16 1, 390, 000 12,136, 000 San Francisco .. 3 525,000 5,101, 000 State bank members, total 26~ 30, 735, 000 207,150,000 2 140.000 1, 666, 000 Boston New York 2 25, 350, 000 161, 279, 000 Philadelphia Cleveland I 50, 000 517, 666 Richmond 1 100, 000 572, 000 Atlanta _. 5 270, 000 1,372,000 Chicago I 500, 000 5, 425, 000 1 40,000 656, 000 St. Louis 4,190, 000 36, 566, 000 Minneapolis _ _ _ 1 25,000 381,000 1 100,000 1,010,000 Kansas City Dallas 1 25, 666 22, 666 San Francisco 2 225,000 1,016,000 Nonmember banks, total 1,158 61, 233, 000 484, 275, 000 140 6,352, 000 IB, 061,000 Boston i 11 2 190 000 35,306 000 2 1 4 867 000 New York 7 2, 908, 000 24,862,000 Philadelphia 9 6, 455, 000 43, 069, 000 Cleveland 32 3,050, 000 30, 926,000 2 150, 000 1, 344, 000 Richmond 130 6,863,000 64, 056,000 11 642,000 5, 019, 000 Atlanta 118 7,102, 000 59, 268, 000 15 857,000 4,401,000 Chicago 234 11,818, 000 84, 613, 000 SI 1,540,000 15,832, 000 St. Louis 315 12, 606, 000 86, 212, 000 2,164,000 15, 581,000 Minneapolis _ _ . 140 3, 012, 000 20, 594,000 £ 170,000 1,841,000 Kansas City ._ •_ 122 2, 967, 000 21, 014, 000 699, 000 7,824, 000 Dallas 24 716. 000 4, 327, 000 4 115, 000 1, 094, 000 San Francisco 16 1, 546, 000 10,028,000 •1 15,000 258,000 1 Includes 2 mutual savings banks (without capital stock) and 8 private banks for which capital figures are not available. 2 Includes 1 mutual savings bank (without capital stock). Back figures.—See Annual Reports for 1929 (Table 111), 1928 (Table 115), 1927 (Table 111), and 1926 (Table 98). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

206 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 118.—BANKS SUSPENDED AND REOPENED, BY STATES, 1930 [Figures are for member and nonmember banks] Banks suspended Banks reopened State i Number Capital i Deposits Number Capital * Deposits I United States. _. 1,345 i $111,643,000 $864,715,000 147 2 $6,802,000 1,599,000 New England: New Hampshire.. 11,400,000 Vermont.-. 150,000 1,768,000 Massachusetts 300,000 10,010,000 4,867,000 Connecticut 2,040,000 15,663,000 Middle Atlantic: New York 27,988,000 183,600,000 New Jersey. 3 400,000 2, 566,000 Pennsylvania 19 | 7,405,000 51, 607, 000 East North Central: Ohio _ 25 2,760,000 29,302,000 150, 000 1,344,000 Indiana.. 90 4,992,000 38,108, 000 1,205,000 10, 261,000 Illinois 126 9,344,000 63, 098, 000 880,000 7, 631,000 Michigan 21 961,000 6,535,000 40,000 656,000 Wisconsin 24 772,000 8,904,000 470,000 5, 557,000 West North Central: Minnesota 22 370,000 3,268,000 125, 000 1,320,000 Iowa 86 4,029,000 30,062,000 Missouri _. 104 3,033,000 19,356, 000 20,000 98,000 North Dakota 60 1,115,000 5,167,000 20,000 136,000 South Dakota 54 1,362,000 11,409,000 20,000 263,000 Nebraska 44 1,216,000 9,810,000 639,000 7,304,000 Kansas 43 1, 241,000 10, 545,000 45,000 447,000 South Atlantic: V M i a r r g y i l n a i n a d ... 20 2 ! I 9 1 2 0 5 0 , , 0 0 0 0 0 0 4 5 , ,8 6 3 5 5 0 , , 0 0 0 0 00 200,000 967,000 West Virginia 10 1,025,000 10, 274,000 2 75,000 660,000 North Carolina._. 93 I 6,173,000 57,402,000 7 345,000 3,321,000 South Carolina.... 27 i 1,410,000 7,479,000 2 i 47,000 468,000 Georgia 31 I 1,453,000 6,478,000 2 ! 75,000 202,000 Florida 39 4,838,000 44,427,000 680,000 3, 577,000 East South Central: Kentucky 29 7,677,000 63,190,000 350,000 2,459, 000 Tennessee 28 2,197,000 27,740, 000 187,000 1,167,000 Alabama 34 1,850,000 I 9,375,000 85,000 205,000 Mississippi 52 2,913,000 I 27,428,000 50,000 263,000 West South Central: Arkansas 135 5,902,000 47,297,000 909,000 6,540,000 Louisiana 9 540,000 5,993,000 70,000 801,000 Oklahoma 23 685,000 ! 4, 507,000 15,000 73,000 Texas 34 1,661,000 j 11,451,000 85,000 754,000 Mountain: Montana 11 405,000 2,367,000 Idaho 1 25,000 i 46,000 Colorado 5 115,000 499,000 Arizona 5 415,000 3,064,000 15,000 258,000 Utah 3 275,000 1,969,000 Pacific: Washington 120,000 1,066,000 Oregon... 45,000 174,000 California 1,416, 000 9,826,000 1 Includes 2 mutual savings banks (without capital stock) and 8 private banks for which capital figures are not available. 2 Includes 1 mutual savings bank (without capital stock). Back figures.—See Annual Reports for 1929 (Table 112), 1928 (Table 116), 1927 (Table 112), 1926 (Table 100), and 1925 (Tables 97 and 1928). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 207 EARNINGS, EXPENSES, AND DIVIDENDS OF MEMBER BANKS No. 119.—MEMBER BANKS—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1926-1930 [In thousands of dollars] District and year ending June 30 I ea G rn ro in ss gs ex T p o e t n a s l es ea T r n n o e i t t n a g l s ch lo N a s r e s g e t e s d d N p it e r i o o t f n i a t d s t - o d d e D c e i l n v a d r i e - s d off Boston: 1926 138,040 100,017 38,023 9,850 28,173 18,641 1927 148,413 107,527 40,886 15,337 25,549 20,145 1928 159, 629 114,499 45,130 13,309 31,821 20,859 1929 168,442 116,254 52,188 24, 371 27,817 22,333 1930 171,324 119, 246 52, 078 26, 596 25,482 30, 760 New York: 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 1929 766,914 499,151 267, 763 42,177 225, 586 124,797 809, 381 533,002 276,379 79, 580 196,799 152, 510 Philadelphia: 1926 148,480 96,326 52,154 6, 519 45,635 24,533 1927 155,340 102,921 52,419 6,702 45,717 26,493 1928 161, 382 108,009 53,373 8,375 44,998 26,807 1929 170,503 114,916 55,587 12,096 43,491 29,314 1930 175,940 116.957 58,983 13,875 45,108 34, 225 Cleveland: 1926 204,532 149,059 55,473 12, 512 42,961 28,416 1927 213,798 155,507 58, 291 16,031 42, 260 27,636 1928. 220,115 162, 218 57,897 13,713 44.184 28,737 1929 230,196 167,874 62,322 14,016 48,306 29,751 1930 231,889 166.958 64,931 20,287 44,644 31,513 Richmond: 1926 83,082 59,692 23,390 6,609 16, 781 15,618 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 1929 86,8£0 64,126 22,764 7,499 15,265 13,782 1930. 80, 222 59,240 8,561 12,421 12, 712 Atlanta: 1926 89,091 61,743 27,348 7,793 19, 555 11,908 1927 83, 277 60,993 22, 284 9,225 13,059 12,208 1928 83,018 61,537 21,481 8,599 12,882 11,247 1929 85,202 63,487 21,715 8,887 12,828 12,575 1930-. 79, 391 59,153 20, 238 17,358 2,880 11,178 Chicago: 1926 284,142 209,295 74, 847 15,684 59,163 35, 291 1927 296,084 218,617 77,467 18, 282 59.185 35, 317 1928 311, 247 232,407 78,840 19,602 59,238 45,198 1929 339,690 235,179 104,511 25,549 78,962 49,882 1930 _ 331, 264 237, 378 93,886 33, 995 59,891 49, 796 St. Louis: 1926.. 85,605 62,372 I 23,233 6,165 i 17,068 11,685 1927 86, 541 64,488 , 22,053 6,842 15,211 13, 746 1928. 87,894 64,601 23,293 5,786 17, 507 12,988 1929_. 91,146 65,668 I 25,478 6,093 19,385 13,321 1930 88,424 64,599 | 23, 825 7,654 16,171 15, 736 Minneapolis: 1926 56,983 44,785 j 12,198 5,635 6,563 5,544 1927. 55, 750 43,063 12, 687 6,506 6,181 5,699 1928 57,354 43,724 13, 630 5,729 7,901 5,780 1929 60,654 44,030 16,624 9,488 7,136 7,326 1930 63,198 45,958 ! 17, 240 6,556 10,684 7,717 Kansas City: I 1926.. 81,780 62,224 I 19, 556 11,899 7,657 8,031 1927 83,067 61,401 I 21,666 13,063 8,603 8,347 1928 84, 241 63,034 21, 207 9,671 11, 536 9,821 1929 88,814 63,609 25,205 9,009 16,196 12,049 1930. 88, 360 62,999 25,361 9,848 15,513 12,445 Dallas: 1926. 63,193 43, 215 19,978 7,674 12, 304 9,467 1927.. 61, 370 43,872 17,498 8,480 9,018 8,289, 1928 64, 591 44,939 19,652 9,044 10, 608 9,156 1929 71, 746 48, 281 23,465 8,287 15,178 10,233 1930 70,979 ' 49,007 21,972 9.777 12,195 10, 201 San Francisco: 1926 183, 684 140, 208 43,476 14, 449 29, 027 21, 077 1927 193, 529 146,504 47,025 16,968 30,057 22,231 1928 208, 721 160,441 48, 280 20, 323 27,957 33, 713 1929 211,449 159,199 52,250 17,018 35, 232 38,981 1930.. _ 2J 8,160 162,820 55, 340 17,122 38, 218 28,901 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, Digitized foprp .F R88A3-S88E4R; 1 929—December, pp. 872-873. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

208 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 120.—NATIONAL BANKS1—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1926-1930 [In thousands of dollars] Net ad- Divi- District and year ending June 30 dition to dends profits declared Boston: 1926.. 92, 214 65,676 26, 538 19, 641 13, 642 1927. 98,200 69,154 29,046 16, 330 14, 243 1928.. 106,268 74,620 31,648 20, 809 14,654 1929.. 111, 799 75,539 36, 260 17,552 15,854 1930. 117.455 80,141 37, 314 15, 233 22, 710 New York: 1926_. 290,138 71,556 1927. 302, 553 ,151 1928.. 326, 641 82,943 1929.. 343, 545 90,467 1930. 351, 352 63. 728 Philadelphia: 1926.. 105,882 68,117 37, 765 31, 990 16,105 1927.. 109,098 72, 713 ,385 30, 982 17, 842 1928.. 110, 689 73,915 36,774 30, 353 17,168 1929. 114, 627 77, 789 36,838 28,673 19,443 1930. 114, 76, 608 38, 060 28, 052 22, 603 Cleveland: 1926-. 110,461 79,730 30,731 6,953 23, 778 16,744 1927. . 112, 423 81, 023 31,400 11, 049 20, 351 15,286 1928_, 113,341 82, 202 31,139 8, 061 23, 078 15,121 1929_. 116,059 84,103 31,956 8,797 23,159 15, 072 1930. 116.353 82, 688 33,665 i 12, 695 20,970 16, 001 Bichmond: 1926- 68,353 48, 801 19,552 5,602 13, 950 1927. 68, 658 49, 559 19,099 ,077 13,022 1928. 70, 610 51, 366 19, 244 5,860 13, 384 1929. 69,466 51,117 18,349 6,018 12, 331 1930.. 63, 613 46,506 i 17,107 6,209 10, 898 Atlanta: 1926. 59,757 41,152 18, 605 4, 508 14, 097 8,388 1927. 58,473 42,919 15, 554 ,077 9,477 8,819 1928. 62, 438 46, 224 16, 214 6,486 9,728 8,392 1929. 63, 968 47, 395 16, 573 6,831 9,742 9,946 1930.. 61, 567 45, 568 15,999 I 10, 863 5,136 8,999 Chicago: 1926. . 143,770 106, 111 26, 434 19, 653 1927. 149,420 109,604 28,813 19,574 1928. 160, 244 118,428 27,886 27,679 1929. 185, 001 122, 012 44, 27, 530 1930.. 167,679 119,935 24, 670 23, 483 St. Louis: 1926_. 49,459 35,875 13, 584 7,537 1927. 51, 376 38,863 12, 513 8,752 9,394 1928.. 53,184 39, 094 14,090 10,538 8,722 1929-. 55,801 40,083 15, 718 11,834 8,815 1930.__ 51,377 37, 253 14,124 9,189 10. 070 Minneapolis: 1926.. 52,128 40, 961 6,305 5,183 1927. 51,711 39,915 6,030 5,379 1928-. 53,376 40, 761 7, 5,461 1929.. 56,263 40,933 6,244 6,936 1930. 59,131 43,114 10, 059 7,267 Kansas City: 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 1929-. 80,532 57,300 23, 232 8,607 14,625 11,104 1930-. 80. 243 56, 782 23, 461 9,451 14. 010 11,434 Dallas: 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 8,806 1929. 67, 506 45,477 22,029 7, 566 14,463 9,719 1930.. 65, 527 45, 278 20, 249 8, 636 11,613 9, 595 San Francisco: 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 1929. 158,891 118,458 40,433 13,000 27,433 34,003 1930.. 175, 776 129, 244 46, 532 14, 445 32,087 25, 739 1 Member banks only, i. e., exclusive of national banks in Alaska and Hawaii. Back figures.—-tieeA nnual Report for 1927 (Table 119). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

209 EARNINGS AND EXPENSES OF MEMBER BANKS LVO. 121.—STATE BANK MEMBERS—EARNINGS, EXPENSES, AND DIVIDENDS, BY FEDERAL RESERVE DISTRICTS, 1926-1930 [In thousands of dollars] District and year ending June 30 ! ea G rn ro in s g s s ex T pe o n ta s l es ea T r n o n e i t t n al gs ch lo N a o s r f s e g f e t e s d d N p it r e i o t o f n a i t d s t - o de d D c e l i n a v d r i e - s d Boston: 1926. 45,826 I 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 1929_ 56,643 I 40,715 15,928 5,663 10,265 6,479 1930 53. 869 39,105 14, 764 4, 515 10, 249 8,050 New York: 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 1928 341,361 !227, 317 114,044 11,428 102, 616 54, 730 1929 — 423,369 i '273,073 150,296 15,177 135,119 72,212 1930 458,029 | 298,915 159.114 26, 043 133,071 84, 266 Philadelphia 1926 42,598 ! 28, 209 14,389 744 13,645 8,428 L927. 46,242 I 30, 208 16,034 1,299 14, 735 8,651 1928. 50,693 ; 34,094 16, 599 1,954 14, 645 9,639 1929. 55,876 ; 37,127 18,749 3,931 14,818 9,871 1930__ 61,272 i 40, 349 20,923 3,867 17, 056 11, 622 Cleveland: 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 1929 114,137 i 83, 771 30,366 5,219 25,147 14,679 1930 115,536 ] 84, 270 31,266 7, 592 23, 674 15, 512 Richmond: 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 1 1 1 9 9 9 2 3 2 9 0 8 1 1 1 6 6 7 , , , 4 6 6 2 0 2 4 9 3 1 1 12 1 3 , , , 8 0 7 6 0 3 1 9 4 4 4 3 , , , 4 7 8 1 6 7 5 2 5 2 1 1 . , , 3 9 4 8 5 8 2 7 1 2 2 1 , , , 7 5 9 2 7 3 3 5 4 2 2 2 , , , 5 2 1 1 6 3 4 1 3 Atlanta: 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 1929 21, 234 16,092 5,142 2,056 3,086 2,629 1930-. 17,824 13, 585 4.239 6.495 i 2, 256 2,179 Chicago: 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 1929 154, 689 113,167 41, 522 7,545 33,977 22,352 1930 163, 585 117.443 46,142 10, 921 35, 221 26, 313 St. Louis: 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 6,969 4,266 1929 35,345 25, 585 9,760 2,209 7,551 4,506 1930 37, 047 27, 346 9,701 2, 719 j 6,982 5, 666 Minneapolis: 1926. 4,855 3,824 1,031 773 ! 258 361 1927__. 4,039 3,148 891 740 i 151 320 1928 3,978 2,963 1,015 603 412 319 1929 4,391 3,097 1,294 402 892 390 1930 4,067 2,844 1. 223 598 j 625 450 Kansas City: 1926 8,500 6, 765 1,735 584 i 1,151 973 1927. 8,834 6,586 2,248 1,241 1,007 950 1928. 8,605 6,481 2,124 1,141 983 954 1929 8,282 6,309 1,973 402 1,571 945 1930 8,117 6, 217 1, 900 397 1, 503 1,011 Dallas: 1926. 4,187 | 1,298 875 423 344 1927. 3,317 2,517 800 617 j 183 267 1928 3,480 2,404 1,076 998 j 78 350 1929. 4,240 2,804 1,436 721 ! 715 514 1930 5, 452 3,729 1.723 1,141 j 582 606 San Francisco: 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 6,489 1929 52, 558 40, 741 11,817 4,018 7,799 4,978 1930 42. 384 33, 576 2,677 | 6,131 3,162 1 Net loss. Back figures,—Sue Annual Report for 1927 (Table 120). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUSINESS CONDITIONS 211 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUSINESS CONDITIONS No. 122.—CAPITAL. ISSUES [Exclusive of refunding issues. In millions of dollars Domestic issues * Corporate Total, Year and quarter dom an e d stic G m ov e e n r t n- Bonds and notes F is o s r u e e i s g n 2 foreign Total« (municipal) Stocks Long Short Total term term YEAR 1922 4,395 3,631 1,072 1,645 1,540 104 570 764 1923 4,440 4,019 1,043 1,989 1,846 144 659 421 1924_ 5,557 4,588 1,380 2,200 1,924 276 829 969 1925 6,205 5,129 1, 356 2,452 2, 231 221 1,152 1,076 1926 6,282 5,157 1,312 2,667 2,418 249 1,087 1,125 1927 7,489 6,152 1,423 3,182 2,961 221 1,460 1,337 1928 7,979 6,728 1,387 2, 378 2,168 210 2,900 1,251 1929 10, 005 9,334 1,398 2,068 1,863 205 5,868 671 1930 6,918 6,013 1,441 2.980 2,460 520 1,503 905 QUARTER I 1922 First 1,160 876 285 ! 393 343 i 50 92 284 Second 1,540 1,253 358 ! 597 ! 39 155 287 Third 940 860 253 I 292 287 5 213 80 Fourth 755 642 176 ! 323 313 i 10 110 113 1923 First 1,398 1,253 240 41 212 145 Second 1,109 1,052 333 448 374 i 74 164 57 Third 644 563 177 | 314 303 I 11 65 81 Fourth 1,290 1,152 293 i 559 541 i 18 218 138 1924 First 1,276 1,120 293 574 491 ; 83 178 156 Second 1,601 1,488 489 624 542 82 322 113 Third 1,135 899 420 375 i 45 111 236 Fourth 1,546 1,082 255 582 516 I 66 219 4(34 1925 First 1,585 1,357 319 737 654 83 244 228 Second 1,585 1,373 416 623 587 36 290 212 Third. 1, 353 1,061 324 496 459 37 232 292 Fourth. 1,682 1,338 297 597 532 65 386 344 1926 First . 1,797 1,603 331 692 96 446 194 Second- 1,755 1,420 378 744 672 72 263 335 Third __ 1,255 988 296 515 483 32 165 267 Fourth. 1,476 1,146 307 620 571 49 214 330 1927 First. 2,020 1,687 327 871 834 37 458 333 Second _ 2,067 1,718 489 824 I 69 318 349 Third... 1,343 1,108 282 563 508 I 55 258 235 Fourth. 2,059 1,640 326 856 796 ! 60 425 419 1928 First.. 1,707 1,404 357 54 359 303 Second. 2,350 1,806 399 607 569 I 38 770 544 Third... 1,128 989 204 402 335 j 67 381 139 Fourth. 2,795 2,529 427 636 ' 52 1,390 266 1929 First.. 2,727 2,463 236 625 I 37 1,565 264 Second. 2,535 2,341 415 616 539 i 77 1,313 194 Third... 3,045 2,965 253 413 382 | 31 2,301 80 Fourth. 1,698 1,565 494 318 I 61 690 133 1930 First.. 2,110 1,841 304 1,115 87 399 269 Second. 2,677 2,247 431 985 782 I 203 820 430 Third... 1,117 1,017 267 563 454 I 109 172 100 Fourth. 1,014 908 440 316 195 I 121 111 106 1 Source: Commercial and Financial Chronicle. 2 Compiled by Department of Commerce. 3 Includes issues of Federal land banks and Federal intermediate credit banks not shown separately. Digitized for FRASER 213 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

214 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 123.—SECURITY PRICES [Index numbers of the Standard Statistics Co. Monthly data are averages of weekly figures] Common stocks (1926=100)3 o Year and to month -3 § 1919 88.3 110.9 70.7 72.6 70.1 60.3 1926 1920.... 80.8 103.2 64.2 66.1 63.9 54.5 January 96.2 120. 0j 1921 81,8 103.0 55.2 51.6 61.8 57.8 February... 96.6! 120.6 1922 92.4 114.0 67.7 64.7 72.7 70.9 March 96.61 120.1 1923 91.8 114.4 69. 0i 66.6 71.9 73.8 April 96.9 120.6! 1924 93. 5 115.2 72.8J 69.6 76.7 78.9 May 97.3 121.4 1925 95.3 118.6 89. 71 88.4 89.5 94.9 June 97.3 121.3 1926 97.0 121.0 100.0 100.0 100.0 100.0 July 97.0| 121.2! 1927 98.9 127.1 118.3 118.5 119.1 116.0 August 97.2 121.9! 1928 98.7 130.9 149.9 154. 128.5 148.9 September.. 97.01 120.5 1929 95.7 127.4 190.3! 189.4 147.3 234.6 October 97.0 120.2 1930 98.3 126.4 149.8 140.6 124.9 214.6 November. 97.6 121.1 December.. 97.8 123.6 1922 January 89.3 109.8 58.7 55.6 63.4! 63.6 1927 February... 89.7 110.9 60.1 56.7 65. 0| 65. 2 January 97. 124.0 March 90.6 112.1 62.3[ 58.9 67.5| 67.6 February... 98.1 125.0 April 91.9 111.9 66.11 63.1 71. 01 69. 3 March 98.4 125. May 92.3 113.2 68.6 66.3 72. 5 70. 7 April 99.0 126.4 June 92.4 113.6 68.0 65.8 7711 .3O in0 .A4 May 99.1 127.6 July 93.3 114.4 68.51 65.4 74.1! 70.6 June 98.4 127.2 A N S D O e o u e c p t c v g o t e e u e b m m s m e t r b b b e e e r r r . - . . . . 0 9 0 0 0 3 4 2 3 4 . . . . . 9 6 8 3 1 1 1 1 1 1 1 1 1 1 1 5 6 6 7 7 . . . . . 6 4 4 1 1 7 7 7 7 7 1 0 3 4 0 . . . . . 0 9 5 0 0 1 ! 6 7 6 6 6 8 9 1 7 7 . . . . . 4 5 5 9 1 8 7 7 7 7 8 9 3 0 5 . . . . . 2 2 7 7 3 1 i 7 7 7 7 7 5 3 5 3 4 . . . . . 7 7 8 9 3 J A S N D O u e u o c e l p t y g c v o t e u e e b m m s m e t r b b b e e e r r r . , . . . . 1 9 9 9 9 9 0 9 8 9 8 9 0 . . . . . . 6 7 4 8 3 0 1 1 1 1 1 2 2 2 2 2 8 7 6 8 8 . . . . . 6 7 5 5 1923 January 03.4 116.4 71.6! 69.9 73.6 73.9 1928 February __. 03.0 117.0 74.8 73.4 76.6 76.0 January 100.3 131.3 March 01.9 116.3 75.8 75.3 76.4 76.1 February... 100.3 131.1 April 01.5 114.2 73.2 72.0 74.4 74.9 March 100.5 132.8 May 01.8 114.2 69.8 67.5 72.7 73.7 April.. 100.3 135.3 June _. 01.8 113.7 67.2 63.7 72.3 72.7 May 99.7 134.2 July 01.4 113.8 64.9 61.2 69.6 71.9 June 98.5 131.5 August 01.6 114.0 65.2 61.8 69.0 72.8 July 97.9 129.6 September. 01.2 113. 6 65.7 62.2 69.3 73.7 August 97.2 128.8 October.... 01. 2 113.4 64.6 61.0 68.7 72.7 September- 97.5 129. 3 November. 01.4 113.8 66.6 63.6 70.0 73.4 October 97.5 128.8 December. U.4 113.4 68.9 67.1 74.0 November.. 97.8 129. 3 December.. 97.2 128.9 1924 January £2 2 114.1 71.1 69.7 71.2 76.4 1929 February... S2.2 114.9 71.4 70.0 71.8 76.6 January 97.0 129.2 March S2.0 114.2 70.0 67.9 71.4 76.0 February... 96.3 128.8 April S2.2 113.3 68.4 65.3 72.0 75.0 March 95.8 128.7 May S2.8 113.7 68.2 64.7 72.7 75.2 April 95.8 128.6 June S3. 7 114.6 69.4 65. 74.3 76.7 May 95.7 128.6 July 64.2 115.5 68.9 78.3 78.3 June 95.3 127.7 August S4.2 116.5 75] 2! 71.7 80.3 80.0 July 95.2 127.0 September. S4.5 116.0 74.4! 70.7 79.3 81.3 August 95.0 126.3 October 94.6 116.0 73. 5i 69.7 78.1 81.0 September.. 94.8 126.8 November. 94.8 116.9 •77.6| 73.6 83.6i 83.2 October 95.1 126.4 December.. 94.5 117.1 81.7| 78.0 87. 5i 86.5 November.. 95.7 123.9 December.. 96.5 126.4 1925 January 94.5 117.5 85.1 82.7 88.6 87.8 1930 February... 94.8 118.0 85.9 83. 88.8 88.2 January 96.5 126.5 March 94.8 116.0 83.6 80.9 86.8 88.7 February... 96.4 126.9 April 95.3 117.6 82.8 80.4 84.8 89.2 March 97.7 127.8 May 96.0 118.7 85.4 83.0 86.2 93.6 April 97.8 128.2 June 96.2 119.0 86.9 85.1 86.3 95. 5 May 98.0 127.6 July 95.8 119.6 89.3 88.2 87.4 97.2 June 98.2 126.8 August 95.3 118.8 90.5j 89.0 89.91 97.5 July.. 98.7 125. September. 95.3 119.2 92. 6j 91.8 91.11 98.4 August 99.6 126.5 October 95.2 119. 3 95.6 96.0 91.5 100.6 September.. 100.0 127.9 November. 95.1 120.1 98.7 99.6 94. 4| 101.2 October 99.9 126.8 December.. 95.6 119.8 100.3! 100.4 98.6 101.1 November.. 99. 1 124.7 December.. 97.8 121. latoT 101.8 101.8 95.8 92.9 93.2 97.2 100.0 102.9 104.3 101.6 103.1 105.4. 105.6 107.9 109.1 111.1 114.2 115.4 117.2 122.0 127.7 126.7 129.6 133.1 134.4 132.3 137.9 145.9 152.1 145.3 144.2 148.3 156.6 159.1 171.1 171.4 185. 2 186. 5 189.1 186.6 187.8 190.7 207.3 218.1 225.2 201.7 151.1 153.8 156.3 165. 5 172.4 181.0 170.5 152.8 149.3 147.6 148.8 127.6 116.7 109.4 lair la 11 1 "3 102.2 98.6 103.2 102.4 97.1 103.8 96.3 94.7 94.9 92.6 93.6 93.3 92.6 94.7 94.3 96.9 98.4 97.7 99.9 100.2 100.2 103.1 103.1 102.0 104.2 105.9 103.1 101.5 102.7 100.9 102.9 104.2 103.1 105.4 106.4 104.0 105.6 107.1 104.4 107.5 111.6 105.3 108.6 112.2 107.3 110.0 115.7 110.5 113.1 118.1 114.2 114.4 119.2 115.6 116.7 120.7 114.9 122.3 123.1 118.5 128.9 125. 2 124.1 127.5 124.3 124.5 131. 3 124.9 125.6 135. 5 126.8 127.2 137.4 125. 3 129.5 134.8 121.6 130.9 141.1 125.9 134.4 149.5 130.7 142.5 154.9 133.2 155.3 148 2 126.7 148.1 147.8 124.6 145.3 152. 6 126.5 147.9 162.2 129.6 155.8 166.2 128.2 154.4 178.9 134.9 168.6 178.4 134.9 173.4 192. 5 141.8 192.7 192.3 141.6 202.4 196.0 140.4 203.7 193. 4 138. 3 201.4 192.6 138.7 212.3 191.0 144. 8 233.0 202.7 160.0 272.8 210.3 165.4 304.3 216.1 168. 1321.0 194.4 157.0 276.6 144.8 135.1 194.4 146.9 136.3 200.9 148.8 136.5 208.7 155.9 142.5 230.5 163.0 143.2 241.6 170.8 141.7 263.7 160.1 136.0 250.0 143.1 124.5 223.5 139.8 124.2 215.4 138.7 121.2 212.7 139.3 122.6 216.4 117.8 110.9 187.0 10S.5 102.1 167.4 101.9 93.5 157.9 ; 2 1 2 A 0 v h e ig ra h g - e g r p a r d i e c e i n o d f u 6 s 0 t r h ia ig ls h ; - g av ra e d ra e g b e o p n r d i s c e a . djusted for differences in coupon rate and maturity. L 3 About 404 issues: 337 industrial, 33 railroad, and 34 public utility. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUSINESS CONDITIONS 215 No. 124,—INDEXES OP PRODUCTION, EMPLOYMENT, AND TRADE [Index Numbers of the Federal Reserve Board .1 1923-1925=100] Industrial production Total Year and month 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1919 January February March April May June July. _ . August September October November December 1920 January February March April May_ June July. _ August September October November December 1921 January February March April May_ June July August September October November December— detsujdanU 83 87 67 85 101 95 104 108 106 111 119 97 80 78 76 78 SO 84 87 89 89 88 86 81 92 93 93 87 92 92 87 89 88 85 78 68 66 65 64 64 67 68 64 67 69 73 72 66 detsujdA 82 79 76 78 78 83 87 89 87 86 85 85 94 94 93 87 90 90 88 S9 oooot^ Manu- factures 71 67 66 64 64 66 65 65 67 67 71 71 70 detsujdanU 84 87 67 87 101 94 105 108 106 112 119 96 82 80 78 80 80 85 87 90 89 87 90 82 94 96 95 89 93 91 86 88 87 83 74 64 64 64 63 64 66 65 63 66 68 72 72 66 detsujdA Minerals 82 81 78 79 78 84 88 91 87 86 89 87 96 96 94 88 91 91 88 88 86 81 73 68 65 64 63 63 64 64 64 67 67 71 71 70 detsujdanU 77 89 70 74 105 96 99 108 107 106 115 99 74 63 61 65 75 82 88 83 94 95 63 70 82 78 80 73 86 95 94 98 94 100 97 87 77 72 67 65 73 73 70 71 72 78 71 64 detsujdA 79 70 66 71 74 76 81 78 85 87 63 77 86 84 87 82 85 88 88 91 85 91 94 94 81 77 72 72 73 71 68 69 67 71 68 69 -nu ,dedrawa stcartnoc gnidliuB detsujda Factory employment and pay rolls Employ- ment 62 62 56 78 84 94 122 129 128 134 117 92 16 29 35 55 68 83 92 85 66 89 64 66 65 59 87 88 77 75 59 59 53 52 38 29 32 30 47 64 68 64 60 62 69 63 54 56 detsujdanU 107 108 82 90 104 96 100 101 99 97 101 88 105 102 102 102 103 104 107 109 111 110 112 113 114 113 115 114 112 111 108 109 107 104 98 90 81 83 83 82 82 81 80 81 83 84 84 83 detsujdA Pay rolls 108 103 102 102 103 104 107 108 109 108 111 114 117 115 115 114 112 111 109 108 105 102 97 90 83 84 83 82 82 81 80 81 82 83 84 83 detsujdanU Freight-car loadings Total 98 118 77 81 103 96 101 104 102 102 108 87 97 91 91 90 91 93 96 101 105 102 107 114 117 116 124 122 123 125 120 123 117 108 100 84 82 8?, 80 78 76 72 74 74 73 ! 72 74 detsujdanU 84 91 79 87 100 97 103 106 103 103 106 92 75 72 71 73 80 83 90 91 102 99 86 82 84 81 87 76 88 95 96 99 103 103 94 82 72 72 71 72 78 80 83 80 89 95 81 72 detsujdA '84 r83 '78 ••80 OO OC Merchandise in less than car lots '85 '88 '91 '87 '83 '90 94 91 95 84 88 92 91 94 91 90 91 90 79 79 75 77 79 80 81 77 80 83 77 77 detsujdanU 87 94 96 99 105 105 105 104 105 97 72 82 86 85 82 78 72 78 85 87 88 89 90 85 94 95 Q? 88 ! detsujdA Departmentstore sales 72 83 82 81 80 80 79 83 84 85 88 88 90 86 90 92 90 90 , detsujdanU 78 94 87 88 98 99 103 106 107 108 111 102 60 59 65 77 73 76 59 60 76 89 101 137 82 74 90 91 101 96 73 73 88 102 112 146 83 76 88 87 91 86 64 63 75 95 97 135 detsujdA 66 71 72 72 69 76 80 80 83 81 86 86 90 89 93 93 96 96 98 97 95 99, 96 92 92 89 89 87 87 87 84 8? 86 83 84 1 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, February, 1931); indexes of factory employment and factory payrolls, November, 1929, November, 1930; indexes of building contracts awarded, August 1927 (latest revisions given here); indexes of freight-car loadings, August, 1927 (certain revisions, February, 1931); indexes of department-store sales and department-store stocks, February, 1928 (certain revisions, November, 1930). ' Revised* 33454r-31- -15 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

216 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 124.—INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE—Continued Factory em- Industrial production ployment and Freight-car loadings pay rolls Department- Merchan- store sales dise in Total less than Year and month car lots 83 83 84 87 8? 86 86 88 88 95 9i 89 92 93 95 94 92 96 88 1923 January 99 86 91 February 97 87 93. March 101 93 05 April 104 96 100 May 102 99 08 June 102 99 101 July 102 98 08 August 101 97 101 September 99 102 100 October 91 105 98 102 101 November 80 103 99 102 100 December 76 101 97 94 98 99 100 j 103 99 91 99 100 ! 105 102 96 101 93 100 101 99 93 101 96 101 98 96 | 97 94 101 97 94 92 91 97 100 92 I 85 93 96 96 92 95 98 96 93 99 104 10* 94 100 104 96 95 99 103 100 97 101 97 1925 Januarj 106 103 95 102 February 105 I 102 101 104 105 March 106 ' 101 105 104 103 April 103 103 105 104 102 May 102 102 106 104 102 June 102 100 104 104 102 July 103 102 103 104 101 August 102 106 105 105 101 September 104 102 111 105 101 October 107 102 109 106 111 November 109 105 109 106 104 December 112 107 101 106 104 1926 January. 109 104 98 106 106 February. 108 103 102 105 105 March 107 105 107 106 101 April 107 105 106 105 105, May 106 ! 108106 i 103 105 107 105 109 June 108 106 107 106 106 105 July 107 102 107 104 105 106 August. 110 ' 108 107 105 105 108 September 111 i 112 108 110 106 104 106 October. 111 i 112 108 109 104 120 109 November 109 : 108 109 108 106 124 106 Digitized forD FeRceAmSbeEr.R 106 108 101 105 184 108 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUSINESS CONDITIONS 217 No. 124.—INDEXES OF PRODUCTION, EMPLOYMENT, AND TRADE—Continued Industrial production Total Year and month 1927 January.. February March.. April May June July August . September October November December 1928 January. February _. March April May. June July... . August September.. _. October November. December 1929 January February March April May June July August September _ October November December 1930 January February March April... May June.. July. ...! August I September j October November December detsujdanU 105 111 113 110 112 107 102 105 107 105 101 96 105 111 112 110 110 108 105 110 116 118 115 109 117 121 122 124 126 125 120 122 124 121 ]08 96 104 110 107 108 106 99 91 90 1 93 1 90 86 ! 78 ! detsujdA Manu- factures 106 108 111 108 111 108 106 106 105 103 100 101 106 108 109 109 109 109 109 111 114 116 116 117 118 118 119 122 124 126 124 123 122 118 108 101 104 107 104 107 104 100 95 91 91 87 86 82 detsujdanU 104 110 113 112 113 107 102 104 106 104 100 95 106 113 114 113 111 109 105 110 116 117 115 110 117 122 126 128 128 127 120 122 123 119 107 93 103 111 110 111 106 99 90 89 91 88 84 76 detsujdA Minerals 104 107 109 109 111 109 107 106 105 102 100 100 106 109 109 110 no 111 111 113 115 116 116 117 118 117 120 123 126 129 126 124 122 118 108 98 103 107 106 107 105 100 94 91 90 85 84 80 detsujdanU 112 113 111 96 108 108 103 111 111 112 105 97 100 99 98 94 104 104 103 111 115 123 117 106 114 116 101 103 116 116 118 121 127 127 114 110 108 104 91 93 102 103 100 101 100 104 95 89 detsujdA 116 117 118 107 109 105 100 106 104 105 101 103 103 103 103 105 105 101 101 105 107 114 113 112 118 120 107 115 116 112 114 115 118 118 110 116 112 109 96 104 103 100 97 96 94 98 92 94 rawa stcartiLOC gnidliuB detsujda Factory employment and pay rolls Employ- ment 94 96 151 147 134 154 130 134 127 137 114 116 104 113 144 156 162 158 142 126 142 145 115 105 99 88 118 156 143 129 159 119 108 108 95 77 79 77 111 118 111 146 89 84 81 82 62 61 detsujdanU 98 100 100 100 99 99 98 99 101 99 97 95 94 96 97 96 96 96 96 98 100 100 99 98 97 100 101 102 102 102 102 104 105 103 99 95 93 93 93 93 91 89 86 85 86 84 81 79 detsujdA Pay rolls 100 100 100 99 99 100 99 99 98 98 97 97 96 96 96 96 96 97 97 97 98 98 99 100 100 100 101 102 102 103 103 103 102 101 99 97 96 94 93 92 91 90 87 84 83 82 81 80 detsujdanU Freight-car loadings Total 99 105 106 105 104 102 99 102 102 103 98 99 96 101 103 100 101 101 98 103 104 107 104 104 101 108 111 111 111 110 106 111 112 111 103 99 94 98 98 97 94 91 83 82 83 81 75 74 detsujdanU 96 99 102 99 105 105 104 109 116 114 101 88 92 94 97 96 105 101 105 109 119 119 109 94 95 99 98 102 109 110 111 115 121 118 102 89 89 92 90 93 97 95 95 96 99 97 86 74 detsujdA Merchandise in less than car lots 106 107 109 10 103 104 102 104 103 101 98 98 102 102 103 101 103 100 102 103 105 106 107 106 108 107 105 108 107 108 107 107 106 104 102 102 100 99 96 97 96 93 92 89 87 86 84 84 detsujdanU 98 102 106 106 106 105 104 105 110 109 106 98 98 101 105 105 108 103 104 104 109 109 107 99 97 101 106 107 107 105 105 106 110 109 106 96 94 98 101 101 101 98 94 95 99 97 94 86 detsujdA Departmentstore sales 105 104 105 104 104 105 105 105 105 104 104 104 105 104 104 103 104 103 105 104 105 104 105 105 104 104 105 104 104 105 106 106 106 104 104 103 101 101 100 98 98 98 95 95 95 93 92 92 detsujdanU 91 89 95 109 105 101 76 85 103 117 126 182 91 88 97 105 107 102 80 81 113 118 125 192 90 91 107 103 109 108 79 84 117 122 125 I 191 88 89 93 110 105 98 71 77 103 112 j 113 165 detsujdA 107 108 106 106 105 106 105 111 104 107 108 106 108 106 107 106 107 107 110 107 112 108 108 111 110 111 112 110 109 113 109 111 114 112 108 108 107 108 107 107 105 103 100 10? 99 102 98 94 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

218 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 1SJ5.—INDEX OP PRODUCTION OP MANUFACTURES, BY GROUPS [Monthly series adjusted for seasonal variation. 1923-1925=100] Year and month m tu A a r l e n l s - Iro d n ! | FoodP p a r a i i n p n n d e g t r - b m A t i o u o l - e - - s Le s a a h n t o d e he s r N m r f a o e o e l t n u r s - - - s P l r e i e e t n f u r i g o m n - - R t b u i e r b e r - s m b t u T u f a a o a r c n c e - c - - s o 1919. 84 82 92 94 76 50 104 67 54 82 1920. 87 99 84 84 87 58 97 78 64 87 1921.. 67 46 87 83 70 41 90 39 64 55 85 1922.. 87 82 99 94 85 66 102 69 74 77 89 1923- 101 105 105 99 94 102 110 94 86 86 96 1024.. 94 89 91 103 99 91 94 99 99 98 99 1925- 105 106 104 98 107 107 96 107 115 116 105 1926- 108 113 104 97 114 108 98 112 127 116 112 1927- 106 104 113 96 112 86 103 109 136 120 118 1928- 112 119 107 98 118 110 103 115 152 144 124 1929- 119 130 115 97 125 135 105 125 168 135 134 1930.. 96 95 91 93 113 85 94 98 164 100 131 1027 January 104 103 108 96 112 90 100 115 135 115 114 February... 107 112 108 94 114 95 102 111 134 112 115 March 109 115 115 100 110 94 99 109 135 122 116 April 109 114 113 100 114 95 103 111 134 134 123 May 111 116 116 103 113 99 104 110 132 127 122 June 109 108 119 102 113 87 105 108 133 130 115 July 107 105 118 96 114 81 107 107 136 119 117 August 106 102 118 96 112 80 107 109 136 117 118 September . 105 98 118 91 114 75 106 106 138 114 122 October 102 94 114 93 111 73 105 107 139 117 120 November. 100 89 112 93 110 64 100 106 140 116 121 December.. 100 94 105 96 112 70 102 111 138 113 114 1328 January 106 107 107 103 114 86 103 100 135 124 118 February _._ 109 113 108 108 116 95 104 108 140 135 119 March 109 114 107 105 119 97 104 108 141 134 120 April. 110 122 101 98 120 98 102 111 147 133 120 May _. 110 116 107 96 121 100 101 111 149 133 120 June 111 115 108 93 119 107 106 115 153 143 125 July....... 111 124 100 89 118 116 106 113 155 149 125 August 113 121 107 90 118 119 105 117 160 151 129 September. 115 128 107 94 119 126 104 117 162 169 128 October 116 126 111 98 117 126 102 121 160 167 126 November- 116 120 113 102 121 129 99 126 159 154 124 December.- 117 123 111 104 122 138 99 127 158 144 127 J929 January 118 118 116 103 123 142 99 126 159 148 131 February.. 117 126 113 101 123 143 99 125 161 152 129 March 120 133 116 96 126 143 100 129 161 152 126 April 123 136 120 103 124 143 103 136 165 161 142 May. 126 145 121 97 127 142 106 138 167 158 142 June 129 155 121 96 128 153 110 126 170 162 139 July 126 152 118 96 125 141 108 128 171 141 131 August 124 143 120 100 125 131 108 124 176 119 133 September. 122 140 116 98 130 122 110 126 174 116 136 October 118 124 118 96 126 123 111 123 178 114 135 November. 108 100 108 96 123 113 108 119 171 94 130 December.. 90 96 95 118 65 100 113 167 80 133 :.930 January.. 99 103 96 120 97 100 105 163 106 131 February. 119 94 122 102 97 102 168 107 133 March—. 113 90 120 98 99 104 168 105 128 April 114 97 121 102 103 106 174 123 136 May... ! 105 111 98 119 101 98 101 173 121 134 June— _ I 100 110 ' 93 116 90 97 96 170 119 141 July— 94 93 94 111 75 95 97 166 93 137 August I 91 93 91 109 62 95 96 164 96 130 September. 86 96 109 62 95 97 165 84 125 October-_. 85 75 94 107 49 89 95 160 88 129 November. 65 94 103 74 81 87 151 77 119 December . 59 i 89 98 85 81 85 149 73 128 Back figures of monthly series.—For years 1919-1922 (general index and all component groups) see Federal Beserve Bulletin for March, 1927. For years 1923-1926 (all component groups except (1) automobiles and (2) leather and shoes) see Bulletin for March, 1929; latest revision of general index given (with revised series for automobiles, leather, and shoes) in Bulletin for February, 1931, p. 107. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

219 BUSINESS CONDITIONS No. 126.—INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS [Monthly series adjusted for seasonal variations. 1923-1925=100] All Bitu- Anthra- Crude Iron-ore Year and month miner- minous cite petro- ship- Copper Zinc Lead Silver als coal coal leum ments 1919 77 89 109 52 91 81 1920 89 109 110 61 113 85 87 1921 70 79 112 64 36 30 39 66 84 1922 74 78 65 75 82 62 68 77 87 1923 105 108 115 99 114 93 96 88 104 1924 96 93 109 97 82 100 97 102 100 1925 99 99 76 104 104 106 107 111 96 1926 . 108 110 104 105 113 110 116 116 95 1927 107 99 99 122 95 105 111 112 93 1928 106 96 93 122 104 115 112 106 88 1929 115 102 91 137 121 127 114 113 94 1930 99 88 86 122 90 87 91 100 79 1927 January -. . 116 118 102 120 113 114 113 97 February 117 123 96 123 111 113 112 95 March- .... . 118 132 87 122 100 114 115 90 April 107 94 106 121 106 109 121 90 May _ 109 94 115 122 120 107 108 112 90 June 105 91 102 122 101 105 114 114 93 July 100 85 74 124 99 101 109 114 94 August 106 92 106 124 98 101 112 112 94 September. 104 91 99 122 88 104 111 111 90 October 105 90 106 123 94 103 110 105 91 November . 101 85 104 124 50 106 108 110 98 December 103 88 91 124 104 109 108 95 1928 January 103 94 87 121 102 105 104 93 February 103 93 87 120 104 107 110 83 March. . . - _ 103 97 78 120 102 112 109 95 April 105 92 105 119 104 113 101 89 May 105 95 110 119 80 110 113 101 85 June. 101 93 74 118 107 110 117 100 93 July 101 95 66 118 104 113 117 98 76 August 105 93 92 122 104 116 120 107 87 September. ., . ... 107 95 93 123 110 123 114 115 79 October 114 101 117 126 114 129 110 109 79 November 113 101 111 127 106 133 111 111 93 December . 112 98 97 131 133 106 109 100 1929 January __ _. _ 118 105 106 137 129 102 120 94 February 120 111 106 136 136 106 115 91 March 107 90 74 133 135 110 115 93 April 115 102 91 133 142 116 116 103 May 116 105 83 134 143 139 121 125 95 June __ -. 112 102 73 135 126 124 128 114 94 July . . 114 103 70 143 119 122 124 118 88 August 115 09 78 145 121 119 127 117 91 September 118 103 102 140 121 125 120 122 89 October 118 103 112 140 107 123 119 121 94 November . 110 98 88 132 98 118 106 117 114 December 116 104 117 133 115 98 105 87 1930 January 112 100 106 133 101 104 95 88 February 109 92 100 135 95 98 112 98 March . 96 81 68 125 88 96 107 89 April 104 97 73 128 90 94 111 88 May 103 92 81 127 104 90 94 104 80 June . - . 100 89 78 124 108 86 99 99 75 July.. 97 86 82 120 95 83 91 103 69 August 96 82 88 117 96 84 94 106 70 September.. . 94 85 80 114 79 89 93 101 73 October 98 87 105 115 74 83 90 94 70 November . 92 86 83 114 51 83 70 83 73 December 94 85 93 111 76 68 92 71 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. 127.—INDEX OP FACTORY EMPLOYMENT, BY GROUPS J to [1923-1926-100] o Transportation All Paper Lum- equipment Chemicals Year and month d m f in u a g c s a t t n r u i i u n r e - - - s s I a r t n e o e d n l Ma e c ry hin- Textiles p F u r o c o o t d s d - and I ber and Group m A o u b t i o le - s I ! L) p u a r c n o t d d s - i c g a l l n a as y d s , f m e N r e r o t o n a u l - s s Group P le e u tr m o- p u r c o t d s - iG p u u r c n o C t d s C - G refining 1919. 106.7 99.7 117.2 97.8 109.0 96.3 85.2 107.5 84.7 114.6 108.3 112.9 1920. 107.9 107.0 128.9 98.3 103.8 104.2 88.2 98.5 I 89.1 121.3 97.1 111.7 1921. 82.4 65.4 77.0 93.0 94.8 71.7 52.9 87. 8 i 73.6 74.5 70.8 110.5 1922. 90.1 83.9 82.2 97.3 95.5 78.3 72.0 97.6 ! 88.1 90.1 81.0 107.2 1923. 104.2 104.4 107.7 105.3 102.0 106.9 100.6 106.2 ! 100.8 107.1 101.5 102.9 102.5 105.8 1924. 96.2 97.2 93.6 95.2 100.0 94.9 93.5 96.3 ! 99.0 95.1 95.9 96.5 91.8 98.8 1925. 99.6 98.4 98.7 99.6 98.0 98.3 105.8 97.5 ! 100.2 97.9 102.6 100.6 105.7 95.4 1926. 101.4 101.3 107.9 97.9 98.5 98.3 104.8 96.8 ! 101.9 99.5 108.8 110.2 104.6 90.8 1927. 98.8 96.8 100.0 100.8 99.1 88.4 91.6 97.3 ! 97.5 97.4 107.9 110.2 104.0 93.6 1928. 97.2 95.4 98.7 95.1 98.6 90.6 108.8 93.5 ! 92.3 96.6 105.3 102.4 108.6 93.8 1929. 101.1 98.9 116.1 96.9 99.7 94.6 114.3 93.7 89.6 101.1 112.3 116.4 108.3 91.6 1930. 87.8 87.1 97.4 84.7 94.7 76.1 81.8 85.9 I 75.6 78.1 104.5 111.9 82.7 87.4 j Without seasonal adjustment 1928—January... 94.2 91.0 92.8 99.7 96.8 103.0 85.3 83.0 89.7 96.2 85.9 89.8 103.3 101.1 105.1 88.5 February.. 95.7 94.0 94.1 100.7 97.8 102.4 85.4 86.1 98.3 97.9 86.5 93.6 106.5 100.8 107.6 92.4 March 96.6 95.4 95.5 100.3 97.4 101.4 86.7 88.2 102.6 97.3 89.4 94.6 110.4 101.0 106.0 93.5 April 96.0 95.3 95.9 97.0 95.6 100.3 87.5 89.7 105.2 92.4 91.8 95.9 109.9 99.4 105.7 91.1 May 95.7 95.7 97.4 93.4 96.1 100.6 87.4 92.4 111.3 89.8 95.3 95.9 101.5 99.2 105.4 92.2 June 96.2 95.5 98.2 91.8 97.6 100.5 88.3 92.4 111.3 89.7 96.2 96.0 101.0 101.5 105.4 93.0 July 95.7 93.6 97.9 87.8 97.9 100.5 87.5 91.6 111.2 94.0 94.6 95.3 100.4 102.6 110.7 88.0 August 98.3 95.9 99.5 89.4 97.4 100.8 89.5 94.2 118.1 95.9 96.6 96.0 101.3 103.9 111.6 94.7 September 100.3 96.4 101.4 92.6 100.5 101.1 90.4 95.4 121.5 96.1 96.0 97.6 106.8 105.8 113.4 96.7 October.., 100.2 96.9 102.8 95.7 102.6 102.4 90.6 94.4 119.8 94.6 94.1 100.0 107.4 104.3 113.2 99.1 November. 98.8 97.7 103.8 96.2 101.9 103.7 90.5 90.2 109.1 89.3 91.8 102.2 107.3 104.0 109.8 98.9 December. 98.1 97.1 105.2 97.0 102.0 103.6 88.2 89.9 107.7 88.6 89.5 102.4 107.8 104.7 109.6 95.7 1929—January... 97.4 97.1 106.7 95.9 98.6 102.5 85.5 94.0 118.3 91.9 84.3 102.4 107.6 104.0 112.2 84.1 February- 99.8 98.3 110.4 98.0 98.8 103.4 85.8 99.0 129.5 94.1 84.5 106.1 110.9 106.7 112.3 92.0 March 101.4 99.3 113.8 101.1 97.6 103.1 86.6 100.5 131.1 92.7 86.8 107.9 115.5 109.2 113.3 92.0 April 102.1 99.7 116.7 99.3 96.2 102.5 88.2 101.7 131.4 90.6 90.5 107.7 119.0 111.9 114.3 91.3 May 101.9 100.7 119.1 97.3 97.3 102.8 89.2 101.5 130.0 90.3 93.1 105.3 110.3 114.4 115.3 90.3 June 102.0 100.8 120.8 96.3 99.2 103.2 90.0 97.6 120.6 89.4 93.8 102.9 107.9 116.4 115.0 91.4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

My....... 102.1 99.8 121.5 91.5 99.8 103. 6 ! 90.5 96.4 117.8 94.6 91.2 100.5 108.9 120.0 114.2 90.5 August 104.0 101.0 119.4 94.2 99.7 104.1 92.2 95.5 115.0 98.1 93.8 99.8 111.2 121.9 111.5 93.0 September. 105.4 101.0 119.5 98.4 102.4 106.0 91.8 94.8 113.1 99.5 93.6 98.6 114.5 124.0 108.3 93.7 October... 103.3 99.4 118.7 99.8 104.2 106.1 I 90.1 90.2 101.3 99.3 91.9 98.5 116.1 124.6 102.7 95.0 November. 98.9 97.0 115. 0 97.1 101.6 106.7 86.7 82.9 83.7 94.4 88.9 93.6 113.8 123.7 91.2 96.1 December. 95.2 92.2 112.1 94.3 100.4 106:9 j 81.6 81.3 79.6 90.0 82.3 89.9 111. 8 120.9 89.2 89.2 ! 1930—January. _. 93.2 91.7 109. 9 97.4 105.1 76.8 83, 2 85.7 91.4 74.7 85.9 110.6 120.8 89.7 84.2 February.. 93.3 93.5 109. 3 92.9 9d7 104.0 75.0 83. 9 89.7 92.4 75.3 84.6 110.2 120. 9 87.9 88.9 March 93.1 92:8 108. 5 92.9 95.0 103. 7 75,0 83.2 91, 0 91.5 78.4 84.3 112.5 118.5 87.2 89.6 April 92.6 9&0 10&9 90.3 94.0 102.® 74 2 84.0 93,9 89.8 81.2 82.9 111.7 116,1 88. 6 88.0 May 90.9 92.7 103.6 86.8 94.5 102.4 73.4 84.0 95.3 86; 8 81.7 81.2 104.6 114.1 88.3 89.4 June 88.8 90. & 100.1 83.6 95.6 101.5 71.7 80.2 88.8 84.5 80.4 80.2 101.8 114.0 88.0 89.2 July 85.5 86.1 95.2 76.6 95.0 100.5 68.2 74.8 81.0 86.6 75.8 77.7 101.0 113.6 82.7 88.2 August 85.1 83.6 90.9 77.9 92.9 99.7 66.5 72.1 76.3 87.4 74.8 75.1 101.5 112.2 81.0 84.0 September. 86.4 82.3 89.8 82.2 95.2 98.6 64.5 70.3 73.2 86.1 74.5 72.5 102.7 108.5 77.4 87.7 October.._ 84.3 81.6 87.4 82.4 94.7 98.8 64.3 67.0 69.6 83.1 73.2 71.6 101.4 104.1 75.3 88.0 November. 81.0 79.8 84.7 80.1 93.6 98.4 61.6 64.9 67.9 76.9 70.4 70.9 98.6 99.8 72.6 87.1 December. 78.8 78.0 83.3 78.1 92.3 98.4 58.4 65.3 69.0 74.5 66.4 70.2 97.8 99.6 73.2 84.9 Adjusted for seasonal variation 1928—January 96.1 92.8 93.8 98.6 98.2 102.2 88.0 85.4 94.4 95.5 93.6 90.9 103. 6 103.1 105.4 94.6 February... 96.1 93.2 93.4 98.0 98.8 102.2 87.9 85.9 96.9 95.4 93.3 91.7 104.9 102.2 106.4 93.3 March 96.1 94.0 94.1 96.7 99.4 101.1 88.6 86.3 98.1 95.3 92.7 91.4 105.1 102.1 105.0 93.7 April 95.7 94.0 94.7 95.2 99.2 100.8 88.3 86.6 99.0 94.2 91.2 93.6 103.8 99.4 104.7 93.7 May 96.1 94.6 96.7 94.2 98.9 101.4 87.8 88.7 103.0 93.6 92.4 94.7 103.4 99.4 104.7 93.7 June.. 96.7 95.4 97.6 94.0 97.8 101.4 88.0 91.1 108.9 94.0 92.2 96.0 105.0 100.5 105.0 93.6 July 96.6 95.1 97.9 92.8 98.2 101.6 87.1 91.7 111.7 94.7 92.4 96.6 104.9 100.4 I 110.7 89.9 August 97.3 96.2 99.7 92.8 97.6 102.1 88.0 93.2 115.4 93.3 92.5 97.4 104. 4 102.0 ! 110.8 95.7 September- 97.7 95.7 101.9 93.3 98.0 101.4 87.9 94.5 119.2 92.7 92.3 99.1 106.3 103.9 I 111.0 93.8 October 98.3 96.6 103.6 94.0 98.2 102.0 88.1 94.4 119.8 91.8 91.9 101.4 107.1 104.5 j 113.8 93.9 November.. 99.3 98.2 105.2 95.2 99.4 102.3 89.0 95.4 121.2 90.1 91.2 103.4 107.0 105.1 114.4 93.8 December-. 99.8 98.5 106.4 96.0 100.2 101.7 88.7 95.6 121.7 91.1 92.4 103.9 108.0 106.0 112.3 93.8 1929—January 99.8 99.0 107.8 95.2 99.9 101.7 88.4 96.9 124.6 91.4 91.9 103.6 108.0 106.0 113.2 90.8 February... 100.3 97.6 109.8 95.4 99.8 103.2 88.4 98.6 127.6 91.7 90.9 104.0 109.5 108.1 111.4 92.9 March 100.9 97.8 112.0 97.4 99.5 102.8 88.5 98.0 125.3 91.5 90.0 104.2 110.4 110. 3 112.6 92.6 April 101.7 98.5 115.2 97.5 99.6 103.0 89.3 98.0 123.6 92.4 89.9 105.1 112.0 111.9 113.3 93.3 May 102.4 99.5 118.3 98.1 100.0 103.6 89.7 97.0 119.8 94.1 90.2 104.0 112.2 114.6 114.6 91.9 June 102.7 100.8 120.1 98.6 99.4 104.2 89.8 96.2 118.0 94.1 89.9 102.9 111.8 115.3 114.7 92.0 July... 102.8 101.3 121.5 96.6 100.1 104.8 90.1 96.4 118.2 94.9 89.6 101.9 113.4 117.4 113.8 92.6 August 102.7 101.4 119.6 97.8 99.9 105.4 90.5 94.5 112.2 95.4 89.7 101.2 114.4 119.7 110.3 93.6 September- 102.4 100.2 120.1 98.7 99.9 106.3 89.1 93.7 109.8 95.6 89.9 100.1 114.0 121.8 105.6 90.9 October 101.3 99.1 119.5 97.9 99.8 105.6 87.2 90.4 101.3 96.0 89.7 99.9 115.8 124.9 102.9 89.9 November.. 99.3 97.4 116.4 96.2 99.1 105.2 ! 85.0 87.3 93.8 95.1 88.4 94.8 113.4 124.9 94.4 90.9 December.. 96.9 93.6 113.3 93.4 98.7 105.0 82.1 86.0 91.0 92.6 85. 0 91.1 111.9 122.4 90.8 87.4 i Back figures.—See Federal Reserve Bulletin for November, 1929, and November, 1930, for monthly data back to January, 1919. to Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 127.—INDEX OF FACTORY EMPLOYMENT, BY GROUPS—Continued to [1923-1925=100] Transportation Chemicals Year and month d f i m u n a g c s a t t n u r in i u r e - - - s s I a t r n e o d e n l Ma e c r h y in- Textiles p F u r o c o o t d s d - r p a r i a n n i y n g d e t i - b . p e u u r r u c o L a t d s u n - - d Gr e o a u u p ipm m A e o n u b t t i o le - s p u a r n c o t d d s - jc c a i l n n a d c y n , i f m e JN r e r t o o a u n ls s - Group P le e u tr m o- Jt p t u u r c o b t d b s e - r l p u o r c u o t a d s i - xo refining 1930—January... 95.6 93.6 111.0 92.2 98.7 104.3 79.6 85.6 90.7 90.9 81.2 86.8 111.1 123.1 90.4 90.8 February.. 93.9 92.8 108.6 90.3 97.6 103.8 77.4 83.6 88.4 90.2 80.7 82.9 109.0 122.4 87.3 90.1 i March 92.9 91.6 106.9 89.4 96.9 103.4 76.8 81.4 87.0 90.4 81.1 81.6 107.5 119.7 86.8 90.2 April 92.4 91.9 105.6 88.6 97.5 103.1 75.2 81.0 87.9 91.5 80.7 81.0 105.6 116.1 88.0 90.1 May 91.4 91.6 102.8 87.4 97.1 103.2 73.9 80.4 87.4 90.4 79.3 SO. 2 106.5 114.3 88.0 90.9 June.. 89.7 90.0 99.5 85.7 95.8 102. 4 71.6 78.9 86.5 88.9 77.1 80.3 105.7 113.0 88.0 89.7 July 86.6 87.3 95. 2 81.0 95.2 101.7 67.8 74.9 81.4 86.8 74.3 78.7 105.4 111, 1 82.4 90.4 August 84.4 83.9 90.8 81.0 93.0 101.1 65.1 71.7 74.8 85.1 71.4 76.1 104.4 110.1 80.0 84.1 September 83.4 81.7 90.2 82.4 92.9 99.0 62.4 69.7 71.1 82.7 71.7 73.6 102.3 106.6 75.3 85.1 October 82.2 81.3 88.0 80.7 90.9 98.4 62.1 67.2 69.6 80.2 71.4 72.6 101.1 104.3 75.4 83.5 November. 81. 1 80.2 85.7 79.4 91.4 97.0 60.4 68.6 76.4 77.4 70.0 71.8 98.3 100.8 75.2 82.0 H December- 80.1 79.1 84.2 77.4 90.8 96.7 58.8 69.4 78.-9 76.6 68.6 71.2 97.9 100.8 74.7 83.5 1 W O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

No. 128.—INDEX OF FACTORY PAY ROLLS, BY GROUPS [Without seasonal adjustment. 1923-1925=100] I Transportation Year and month d f i m u n a A c s g a t t n l r u i l i u n r e - - - s s I a t r n e o e d n l ch M in a e - ry Textiles p F u r o c o o t d s d - P p a r i a n i n p n g d e t r - b L p e u r r u c o m a t d s n - - d Gr e o q u u p ipm m A e o n u b t t i o le - s L p e u a r a c n o t t d h d s e - r m c a C l e n a e n d y - t , , f m e N r e r o t o a n u l - s s Gro C u h p emi r c e P l a f e e i l u n t s r m i o n - g R p u u r c b o t b d s e - r b p u T a r c o c o t c d - s o - 1919 98.1 98.0 104.1 90.0 98.0 74.2 89.2 88.8 74.9 99.0 72.6 99.3 100.1 107.2 1920. - 118.1 123.8 135.6 107.8 109.2 100.3 109.2 111.5 90.4 105.9 93.6 130.4 113.7 124.6 1921-__ 76.8 55.8 69.6 89.2 93.3 83.3 68.0 72.7 48.7 87.0 67.4 66.7 66.9 104.6 1922 81.1 69.9 72.8 91.0 90.2 86.1 82.1 76.4 66.2 96.0 73.2 82.3 73.7 99.2 1923 103.4 103.8 107.0 105.8 100.1 96.1 100.0 107.1 100.8 106.8 98.9 105.3 99.8 102.1 101.5 104.2 1924 95.7 96.7 92.6 94.4 100.5 99.7 98.4 93.2 90.2 95.5 100.7 94.8 96.3 95.2 92.7 99.4 1925 100.9 99.4 100.4 99.8 99.4 104.2 101.6 99.7 109.1 97.8 100.3 99.9 103.9 102.7 105.8 96.3 1926-- 104.3 104.2 111.9 98.4 101.2 110.4 102.0 99.1 105.2 98.1 101.5 103.0 111.0 111.4 106.2 92.1 1927. 102.0 98.5 103.5 104.1 102.4 110.1 95.1 91.3 93.5 98.6 96.2 100.3 109.7 112.2 108.5 91.1 1928-. 101.8 99.9 104.7 96.4 102.5 109.8 90.5 97.2 117.6 92.4 90.4 107.1 106.0 105.7 114.8 88.4 1929 107.7 106.0 125.6 99.6 104.4 114.5 90.6 103.4 122.0 93.1 87.0 115.2 113.4 120.2 111.0 87.7 1930 87.4 84.4 96.7 81.9 99.6 110.0 65.8 76.4 76.7 75.5 68.7 79.6 103.9 116.4 80.6 79.4 1929—January. _. 100.8 101.3 112.3 97.0 102.2 111.4 83.4 93.6 114.5 90.2 79.0 117.4 106.3 105.3 111.7 76.3 February- 108.1 107.2 120.7 103.6 102.5 113.0 86.5 111.4 147.4 94.5 81.0 124.1 111.3 110.2 123.3 82.3 March 110.8 108.5 126.5 108.8 101.2 114.9 88.4 113.9 148.2 91.4 84.8 127.6 113.6 112.1 123.6 84.4 April 111.4 110.5 129.5 103.2 100.4 113.3 90.9 117.0 152.0 87.9 89.3 127.0 117.8 117.1 124.4 86.1 May 111.4 111.6 131.9 99.3 103.1 114.3 92.8 116.0 147.1 88.1 91.8 123.1 113.1 118.9 125.7 86.1 June 109.7 109.9 131.6 97.8 105.6 113.6 92.2 107.9 130.9 89.8 92.5 117.0 111.2 120.0 120.6 88.5 July 105.7 103.5 128.2 90.4 105.6 111.4 93.5 97.1 110.2 97.8 86.1 112.6 111.2 123.3 115.1 87.9 August 110.6 109.3 127.5 97.4 105.0 112.8 94.7 106.8 128.0 105.0 91.2 113.2 113.0 125.1 110.9 90.6 September. 111.9 108.9 127.9 103.0 108.1 116.3 96.6 103.3 120.3 104.3 91.3 112.1 116.0 129.3 104.9 93.4 October. _. 110.9 107.9 129.0 104.8 108.8 117.8 96.8 99.8 108.0 100.0 90.6 112.5 118.2 129.4 100.9 94.2 November. 102.5 100.0 121.6 96.2 105.5 117.2 89.2 89.4 84.3 83.9 86.4 99.6 115.6 126.3 85.9 94.3 December. 99.1 93.5 119.9 93.8 105.5 118.2 82.7 85.6 72.9 84.1 80.2 96.1 114.0 124.8 85.0 88.8 1930—January... 94.4 90.5 113.8 92.2 102.5 114.9 72.8 80.9 74.0 85.4 67.3 91.5 109.3 121.1 88.9 77.0 February.. 97.7 98.1 115.2 94.1 101.6 114.9 72.6 89.8 92.7 86.2 70.2 91.7 110.0 125.0 92.1 80.0 March 98.2 97.1 115.1 96.6 99.7 115.0 74.6 90.6 97.3 85.2 73.4 91.0 111.6 123.1 90.0 81.0 April 97.1 97.7 113.4 89.3 99.7 113.5 73.8 92.0 100.8 81.6 77.1 88.3 110.9 122.1 94.5 77.1 May 94.4 95.5 108.3 82.7 100.7 113.3 73.2 91.1 101.7 75.6 76.9 84.4 106.6 120. 5 95.4 82.1 June 90.7 90.8 102.7 77.8 102.3 111.9 70.9 83.8 89.2 73.8 76.1 85.0 105.3 121.7 88.3 84.4 July 82.6 78.6 90.9 69.2 100.2 107.3 63.0 71.7 72.4 78.6 66.4 76.0 100.8 118.1 80.8 81.9 August 81.7 77.5 85.8 73.2 97.6 106.9 61.6 66.3 58.1 80.0 66.4 72.0 100.7 117.2 77.6 77.2 September. 83.0 75.4 84.2 81.2 100.8 106.3 60.9 66.0 62.4 76.2 66.4 70.7 101.3 113.8 71.8 80.0 October. _. 80.8 75.8 81.4 80.3 98.4 105.4 60.4 62.8 58.4 69.7 66.4 69.4 99.9 109.3 65.9 78.0 November. 75.1 68.9 75.1 73.4 96.5 105.0 54.7 60.8 57.4 55.0 60.9 67.3 96.1 103.2 58.7 76.8 December. 73.7 66.7 75.0 72.2 94.9 105.7 50.4 60.8 55.5 58.1 56.3 67.9 94.7 101.4 62.6 77.7 Back figures.-—See Federal Reserve Bulletin for November, 1929, for monthly data back to January, 1919. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

224 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD No. 129.—INDEX NUMBERS OF WHOLESALE COMMODITY PRICES IN THE UNITED STATES 1 [Indet of the U. S. Bureau of Labor Statistics; 1926=100, base adopted by bureau] Other commodities Y m ea o r n a th nd m < t A i i o o e m l d s l i - - F p u r a c o r t d m s - Foods Total l H e p u a a r i c n o t d h t d d e s e - s r p T t r i e o l x e d - - m l F r i a i g i a n u n a h t g e l d e t s l - - M m p u a r e e c n o t t t d a d a s l - l s B m r u i i n a a il t g l d e s - - d C i a c r h n u a e d g l m s s -H g n f o o i i u n s u o r g h d s - - e s - c M el i l s a - - 1913.. 71.5 64.2 70.0 68. 1 57.3 61.3 90.8 56.7 80.2 56.3 93.1 1914 68. 1 71.2 64.7 66.4 70.9 54.6 56.6 80.2 52.7 81.4 56.8 89.9 1915 69.5 71.5 65.4 68.0 75.5 54.1 51.8 86.3 53.5 112.0 56.0 86.9 1916 85. 5 84.4 75.7 88.3 93.4 70.4 74.3 116.5 67.6 160.7 61.4 100. 6 1917 :.i7. 5 129. 0 104. 5 114.2 123.8 98.7 105. 4 150.6 88.2 165.0 74.2 122.1 1918 .31. 3 148.0 119. 1 124.6 125.7 137.2 109. 2 136.5 98.6 182.3 93.3 134.4 1919 138. 6 157.6 129.5 128.8 174. 1 135.3 104.3 130.9 115. 6 157.0 105. 9 139. 1 1 1 9 9 2 2 0 1 ._.. :L 9 5 7 4. . 6 4 1 8 5 8 0 . . 4 7 1 9 3 0 7 . . 6 4 1 10 6 4 1 . . 9 3 1 1 7 0 1 9 . . 3 2 1 9 6 4 4 . . 5 8 1 9 6 6 3 . . 8 7 1 1 4 1 9 7 . . 4 5 1 9 5 7 0 . . 4 1 1 1 6 1 4 5 . . 7 0 1 11 4 3 1 . . 0 8 1 1 0 6 9 7 . . 2 5 1922 -_- 96.7 93.8 87.6 102.4 , 104.6 100.2 107.3 102.9 97.3 100,3 103,5 92.8 1923 L00. 6 98.6 92.7 104.3 104.2 111.3 97.3 109.3 108.7 101.1 108.9 99.7 1924 98.1 100.0 91.0 99.7 101.5 106.7 92.0 106.3 102.3 98.9 104.9 93.6 1925 L03. 5 109.8 100.2 102.6 105.3 108.3 96.5 103.2 101.7 101.8 103.1 109.0 1926 (base).... L00. 0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 19 9 2 2 8 7... 9 9 7 5 . . 7 4 1 9 0 9 5 . . 4 9 1 9 0 6 1 . . 5 0 9 9 3 3 . . 7 2 1 1 0 2 7 1 . . 9 7 9 9 5 6 . . 7 3 8 8 6 2 . . 5 8 9 9 8 9 . . 2 8 9 9 3 3. . 7 3 9 9 6 5 . . 5 6 9 9 8 7 . . 2 4 8 8 9 3 . . 9 0 1 1 9 9 3 2 0 9 9 8 6 6 . . 5 3 1 8 0 8 4. . 9 3 9 9 9 0 . . 7 1 9 8 2 5 . . 6 1 1 9 0 9 9 . . 9 2 9 8 3 0 . . 7 7 8 7 1 6 . . 6 1 1 9 0 5 4. . 4 3 9 9 7 0 . . 1 3 9 8 4 8 . . 4 7 9 9 6 5 . . 9 7 8 7 0 3. . 4 5 1928 January 96.3 106.1 98.5 92.8 121.0 80.8 98.1 90.8 96.3 98.6 89.0 February 96.4 104.5 98.7 92.9 124.1 96.6 81.2 98.3 91.0 95.8 98.4 87.3 March 96.0 103.5 98.0 92.7 124.0 96.5 98.4 91.0 95.6 98. 3 86.8 April 97.4 107.6 99.5 92.9 126.7 96.5 98.4 92.5 95.8 97.9 84.9 May 98.6 109.8 101.2 93.3 126.3 96.6 81.8 93.5 95.3 97.8 85.1 June 97.6 106.7 100.3 92.8 123.7 96.3 82.1 98.7 93.9 94.9 97.0 82.2 July.. 98.3 107.1 102.3 93.0 124.2 96.8 82.8 98.6 94.4 94.5 96.9 80.8 August 98.9 107.0 104.1 93.5 121.0 96.3 84.6 100.4 94.6 94.7 97.2 79.3 September 100.1 108.8 106.9 93.6 120.7 95.6 85.1 100.5 94.7 95.1 97,2 79.7 October 97.8 103.5 102.3 93.6 117.5 96.1 84.9 101.0 95.0 95.6 96.5 80.3 November 96.7 101.6 100.1 93.5 115.5 96.1 84.4 101.7 96.0 96.0 96.4 80.0 December 96.7 103.6 98.0 93.6 115.7 96.1 83.5 102.9 96.8 96.1 96.4 80.1 1929 January 97.2 105.9 93.4 113.6 96.4 82.5 103.6 j 96.6 95.9 96.6 80.5 February 96.7 105. 4 98.1 93.0 109.0 96.1 81.3 104.4 i 97.5 96.1 96.6 80.4 March 97.5 107.1 98.1 ! 93.2 108.3 96.1 80.6 106.4 98.8 95.6 96.5 80.0 April 96.8 104.9 97.7 j 92.9 107.9 95.5 80.6 106.4 ! 97.9 94.9 96.7 79.2 May 95.8 102.2 97.7 92.5 106.8 94.2 81.1 105.2 i 96.8 94.2 96.7 79.6 June 96.4 103.3 98.9 ! 93.1 108.0 93.3 83.3 105.1 96.4 93.4 96.6 80.4 July.. 98.0 107.6 102.8 92.9 109.2 92.8 82.0 105.0 I 96.7 93.4 97.2 81.3 August 97.7 107.1 103.1 ! 92.5 109.7 93.1 80.9 104.3 96.7 93.7 97.1 81.3 September 97.5 106.6 103.2 ! 92.7 110.8 93.1 81.1 104.1 97.5 93.9 97.1 81.7 October _ 96.3 103.9 101.2 ! 92.7 110.5 92.7 81.7 103. 6 97.8 94.2 97.1 81.3 November 94.4 101.1 91.7 108.4 91.5 81.7 102.3 96.0 94.0 97.1 80.1 December 94.2 101.9 91.4 107.4 90.4 81.3 102.1 96.2 97.3 79.8 1930 I January 93.4 101.0 97.2 90.3 105.1 j 89.4 79.9 101.2 96.2 93.0 97.3 78.7 February 92.1 98.0 95.5 89.6 103.9 88.3 78.8 100.9 95.7 92.3 97.0 78.5 March _ 90.8 94.7 93.9 88.7 103.2 86.5 77.4 100.6 95.4 91.2 96.5 78.2 April 90.7 95.8 94.6 88.3 102.7 85.5 77.9 98.8 94.7 91.0 96.2 78.5 May... 89.1 93.0 92.0 87.5 102.6 84.6 78.0 96.8 92.9 89.9 96.2 77.5 June 86.8 88.9 90.5 85.7 102.4 82.2 76.4 95.4 90.0 88.9 96.2 74.5 July 84.0 83.1 86.3 84.3 100.7 80.0 75.4 94.3 88.9 87.8 96.2 71.7 August 84.0 84.9 87.1 : 83.3 98.9 77.7 75.4 92.7 87.4 87.3 95.9 71.2 September.. 84.2 85.3 89.2 82.8 99.1 75.5 76.3 91.8 86.4 86.6 95.4 69.7 October 82.6 82.6 88.6 i 81.5 96.5 73.8 75.1 90.4 85.8 86.0 95.3 68.8 November 80.4 79.3 85.7 j 80.1 94.0 73.3 71.8 90.2 85.6 85.2 95.2 67.8 December 78.4 75.2 81.8 i 79.0 91.2 72.4 70.5 90.0 84.4 84.8 91.3 66.9 • i For a description of this index see Bulletins of the U. S. Bureau of Labor Statistics, Numbers 473 and 493, the Federal Reserve Bulletin for October, 1927, and Monthly Labor Review for June, 1930, page 256* Back figures.—See Bulletin of the U. S. Bureau of Labor Statistics No. 473 and Monthly Labor Review for February, 1931, pp. 208 and 209. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

APPENDIX 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 ANDiMEMBERS OF THE FEDERAL ADVISORY COUNCIL FOR THE YEAR 1930 OFFICERS President, B. A. MCKINNEY. Vice President, WALTER W. SMITH. Secretary, WALTER LICHTENSTEIN. EXECUTIVE COMMITTEE B. A. MCKINNEY. HOWARD A. LOEB. WALTER W. SMITH. HARRIS CREECH. WM. C. POTTER. MELVIN A. TRAYLOR. MEMBERS HERBERT K. HALLETT, Federal Reserve District No. 1. WILLIAM C. POTTER, Federal Reserve District No. 2. HOWARD A. LOEB, Federal Reserve District No. 3. HARRIS CREECH, Federal Reserve District No. 4. JOHN POOLE, Federal Reserve District No. 5. J. P. BUTLER, Federal Reserve District No. 6. MELVIN A, TRAYLOR, Federal Reserve District No. 7. WALTER W. SMITH, Federal Reserve District No. 8. GEORGE H. PRINCE, Federal Reserve District No. 9. WALTER S. MCLUCAS, Federal Reserve District No. 10. B. A. MCKINNEY, Federal Reserve District No. 11. F. L. LIPMAN, Federal Reserve District No. 12. NOTE.—The above list is correct as of December 31,1930. In the earlier part of the year Mr. F. 0. Wetnore was president of the council and representative of the seventh Federal reserve district, but he died >n Aug. 26, 1930, and this necessitated changes. Before Mr. Wetmore's death Mr. McKinney was vice resident of the council, and the executive committee was composed of Messrs. F. O. Westmore, B. A. VIcKmney, W. C. Potter, L. L. Rue, Harris Creech, and W. W. Smith. Another change was due to the act that Mr. Rue, representative of the third Federal reserve district, resigned during the year and his ilace was taken by Mr. Loeb. RECOMMENDATIONS OF THE FEDERAL ADVISORY COUNCIL FEBRUARY 18, 1930 TOPIC—H. R. 7966 (McFadden bill). Recommendation.—The Federal Advisory Council having been •equested by the Federal Reserve Board to give consideration to EL R. 7966 begs to report that it is opposed to most of the provisions )f this bill. (1) The council sees no value in giving the Comptroller of the Cur- •ency authority to examine Federal reserve banks. It believes that his authority should continue to reside in the Federal Reserve Board, is provided for in the Federal reserve act. The board has a staff pecially trained to perform this function and it has been able thereby o harmonize the operations of the Federal reserve banks under its upervision. (2) The council believes there is decided objection to the examinaion of State banks and trust companies by the Comptroller of the Digitized for FRASER 227 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

228 ANNUAL EEPOBT OP THE FEDERAL RESERVE BOARD Currency. The result of such activity would be an unnecessary multiplicity of examinations and probable resentment on the part of State banking departments. The present system of examinations by State officials, supplemented when necessary by an examination by the Federal reserve authorities, has resulted in satisfactory cooperation between the State and Federal reserve examiners. (3) The suggestion that the expenses of the examination shall be borne by the Federal reserve banks would, if carried out, result in one more compelling reason for more active participation on the part of the Federal reserve banks in the money market for the purpose of increasing their earnings to meet the burden of this additional expense. (4) The council deems it unnecessary to provide for a special examination of the condition of any Federal reserve bank, and, in any event, would consider it desirable to have an application to do so supported by more than 10 member banks. (5) In the opinion of the council the officers and board of directors of the seveTal Federal reserve banks by reason of their intimate contact with member banks are better qualified to judge the desirability of a given bank acting in a fiduciary capacity than is the Comptroller of the Currency. Consequently it can find no merit in the proposal to transfer from the Federal Reserve Board to the Comptroller of the Currency the power to grant permission to a national bank to act in a fiduciary capacity. (6) The council objects to the proposed division of earnings of the Federal reserve banks since this would be discriminating unfairly in favor of one class of member banks. In this connection, the council calls attention to its approval at its last meeting of S. R. 5723 with a suggested amendment. (7) The council does view with sympathy the purpose of the proposed bill in authorizing examinations of corporations affiliated with member banks. But the council believes this is part of a larger problem connected with the development of chain or group banking. It believes that before legislative action is decided upon it would be well if the Federal Reserve Board undertook to study this question and related topics as recommended by the council at its last meeting. NOVEMBER 18, 1930 TOPIC NO. 1.—Open-market operations and rediscount rates. Recommendation.—In the opinion of the Federal Advisory Council the present situation will be best served if the natural flow of credit is unhampered by open-market operations or changes in the rediscount rates. The seasonal demands during the balance of the year should be met by rediscounting on the part of member banks. TOPIC NO. 2.—Eligibility for rediscount of notes of finance companies. Recommendation.—The Federal Advisory Council has had brought to its attention by the secretary of the National Association of Finance Companies the wish of the members of that association that "the notes of finance companies, given to the banks for funds to be used in financing the sale of merchandise/' be made eligible for rediscount by the Federal reserve banks. The council does not believe the rules of eligibility should be extended to make such notes eligible for rediscount,. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDEKAL RESERVE BOARD 229 AMENDMENTS TO FEDERAL RESERVE ACT AMENDMENT AS TO REDISCOUNT OF PAPER OF ONE BORROWER [PUBLIC—No. 120—71ST CONGRESS] [H. R. 9046] An Act To amend the fourth paragraph of section 13 of the Federal Reserve Act, as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the fourth paragraph of section 13 of the Federal Reserve Act, as amended (United States Code, title 12, section 345), be further amended to read as follows: "The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or guarantor, rediscounted for any member bank, shall at no time exceed the amount for which such person, copartnership, association, or corporation may lawfully become liable to a national banking association under the terms of section 5200 of the Revised Statutes, as amended: Provided, however, That nothing in this paragraph shall be construed to change the character or class of paper now eligible for rediscount by Federal reserve banks." Approved, April 12, 1930. AMENDMENT PERMITTING WAIVER OF NOTICE REQUIRED OF WITHDRAWING MEMBER BANKS [PUBLIC—No. 134—71ST CONGRESS] [H. R. 8877] An Act To amend section 9 of the Federal Reserve Act, as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the ninth paragraph of section 9 of the Federal Reserve Act (United States Code, title 12, section 328), as amended, be further amended by inserting therein, immediately before the proviso now contained therein, the following: "Provided, That the Federal Reserve Board, in its discretion and subject to such conditions as it may prescribe, may waive such six months' notice in individual cases and may permit any such State bank or trust company to withdraw from membership in a Federal reserve bank prior to the expiration of six months from the date of the written notice of its intention to withdraw." Approved, April 17, 1930. AMENDMENT WITH REGARD TO CANCELLATION OF FEDERAL RESERVE BANK STOCK HELD BY BANKS WHICH HAVE DISCON- TINUED BANKING OPERATIONS [PUBLIC—No. 163—71ST CONGRESS] [H. R. 6604] An Act To amend sections 6 and 9 of the Federal Reserve Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 6 of the Act of December 23, 1913, known as the Federal Reserve Act (United States Code, title 12, section 288), be amended and reenacted to read as follows: "SEC. 6. If any member bank shall be declared insolvent and a receiver appointed therefor, the stock held by it in said Federal reserve bank shall be canceled, without impairment of its liability, and all cash-paid subscriptions on said stock, with one-half of 1 per centum per month from the period of last dividend, if earned, not to exceed the book value thereof, shall be first applied to all debts of the insolvent member bank to the Federal reserve bank, and the balance, if any, shall be paid to the receiver of the insolvent bank. "If any national bank which has not gone into liquidation as provided in section 5220 of the Revised Statutes (United States Code, title 12, section 181) and for which a receiver has not already been appointed for other lawful cause, shall discontinue its banking operations for a period of sixty days the Comptroller of the Currency may, if he deems it advisable, appoint a receiver for Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

230 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD such bank. The stock held by the said national bank in the Federal reserve bank of its district shall thereupon be canceled and said national bank shall receive in payment therefor, under regulations to be prescribed by the Federal Reserve Board, a sum equal to its cash-paid subscriptions on the shares canceled and one-half of 1 per centum a month from the period of the last dividend, if earned, not fco exceed the book value thereof, less any liability of such national bank to the Federal reserve bank. " Whenever the capital stock of a Federal reserve bank is reduced either on accpunt of a reduction in capital stock of any member bank or of the liquidation or insolvency of such bank or on account of the appointment of a receiver for a national bank following discontinuance of its banking operations as provided in this section, the board of directors shall cause to be executed a certificate to the Comptroller of the Currency showing such reduction of capital stock and the amount repaid to such bank." SEC. 2. That the eighth paragraph of section 9 of the Federal Reserve Act as amended (United States Code, title 12, section 327), be amended and reenacted to read as follows: "If at any time it shall appear to the Federal Reserve Board that a member bank has failed to comply with the provisions of this section or the regulations of the Federal Reserve Board made pursuant thereto, or has ceased to exercise banking functions without a receiver or liquidating agent having been appointed therefor, it shall be within the power of the board after hearing to require such bank to surrender its stock in the Federal reserve bank and to forfeit all rights and privileges of membership. The Federal Reserve Board may restore membership upon due proof of compliance with the conditions imposed by this section." Approved, April 23, 1930. AMENDMENT WITH REGARD TO THE EXPENSE OF EXAMINATIONS OF MEMBER BANKS [PUBLIC—No. 434—71ST CONGRESS] [S. 485] An Act To amend section 9 of the Federal Reserve Act and section 5240 of the Revised Statutes of the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the seventh paragraph of section 9 of the Federal Reserve Act, as amended (U. S. C, title 12, sec. 326), is further amended by striking out the last sentence thereof and inserting the following: "The expenses of all examinations, other than those made by State authorities, may, in the discretion of the Federal Reserve Board, be assessed against the banks examined and, when so assessed, shall be paid bv the banks examined. Copies of .the reports of such examinations may, in the discretion of the Federal Reserve Board, be furnished to the State authorities having supervision of such banks, to officers, directors, or receivers of such banks, and to any other proper persons." SEC. 2. That section 5240, United States Revised Statutes, as amended by section 21 of the Federal Reserve Act, is further amended in the third paragraph thereof (U. S. C, title 12, sec. 483), by striking out the second sentence of such paragraph and inserting in lieu thereof the following: "The expense of such examinations may, in the discretion of the Federal Reserve Board, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined." Approved, June 26, 1930. AMENDMENT AUTHORIZING NATIONAL BANKS TO SURRENDER TRUST POWERS [PUBLIC—No. 435—7IST CONGRESS] [S. 3627] An Act To amend the Federal Reserve Act so as to enable national banks voluntarily to surrender the right to exercise trust powers and to relieve themselves of the necessity of complying with the laws governing banks exercising such powers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (k) of section 11 of the Federal Digitized foRr FeRseArSveE RA cb (subsection (k) of section 248, United States Code, title 12), as http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

AMENDMENTS TO FEDERAL RESERVE ACT 231 amended, be further amended by adding at the end thereof a new paragraph reading as follows: "Any national banking association desiring to surrender its right to exercise the # powers granted under this subsection, in order to relieve itself from the necessity of complying with the requirements of this subsection, or to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts, or for any other purpose, may file with the Federal Reserve Board a certified copy of a resolution of its board of directors signifying such desire. Upon receipt of such a resolution, the Federal Reserve Board, after satisfying itself that such bank has been relieved in accordance with State law of all duties as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics or other fiduciary, under court, private, or other appointments previously accepted under authority of this subsection, may, in its discretion, issue to such bank a certificate certifying that such bank is no longer authorized to exercise the powers granted by this subsection. Upon the issuance of such a certificate by the Federal Reserve Board, such bank (1) shall no longer be subject to the provisions of this subsection or the regulations of the Federa] Reserve Board made pursuant thereto, (2) shall be entitled to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts, and (3) shall not exercise thereafter any of the powers granted by this subsection without first applying for and obtaining a new permit to exercise such powers pursuant to the provisions of this subsection. The Federal Reserve Board is authorized and empowered to promulgate such regulations as it may deem necessary to enforce compliance with the provisions of this subsection and the proper exercise of the powers granted therein." Approved, June 26, 1930. AMENDMENT WITH REGARD TO PROCEDURE IN ELECTIONS OF FEDERAL RESERVE BANK DIRECTORATES [PUBLIC—No. 437—71ST CONGRESS] [S. 4096] An Act To amend section 4 of the Federal Keserve Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 4 of the Federal Reserve Act, as amended (U. S. C, title 12, sec. 304), be further amended by striking out that paragraph thereof which reads as follows: "Any candidate having a majority of all votes cast in the column of first choice shall be declared elected. If no candidate have a majority of all the votes in the first column, then there shall be added together the votes cast by the electors for such candidates in the second column and the votes cast for the several candidates in the first column. If any candidate then have a majority of the electors voting, by adding together the first and second choices, he shall be declared elected. If no candidate have a majority of electors voting when the first and second choices shall have been added, then the votes cast in the third column for other choices shall be added together in like manner, and the candidate then having the highest number of votes shall be declared elected. An immediate report of election shall be declared." and by inserting in lieu thereof the following: "Any candidate having a majority of all votes cast in the column of first choice shall be declared elected. If no candidate have a majority of all the votes in the first column, then there shall be added together the votes cast by the electors for such candidates in the second column and the votes cast for the several candidates in the first column. The candidate then having a majority of the electors voting and the highest number of combined votes shall be declared elected. If no candidate have a majority of electors voting and the highest number of votes when the first and second choices shall have been added, then the votes cast in the third column for other choices shall be added together in like manner, and the candidate then having the highest number of votes shall be declared elected. An immediate report of election shall be declared." Approved, June 26, 1930. 33454—31 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

232 ANNUAL EEPORT OF THE FEDERAL RESERVE BOARD REGULATIONS OF THE FEDERAL RESERVE BOARD [As they existed on December 31, 1930] REGULATION A, SERIES OF 1930 (Superseding Regulation A of 1928) DISCOUNTS UNDER SECTIONS 13 AND 13a ARTICLE A—NOTES, DRAFTS, AND BILLS OF EXCHANGE SECTION I. GENERAL STATUTORY PROVISIONS Any Federal reserve bank may discount for any of its member banks any note, draft, or bill of exchange: Provided— (a) It has a definite maturity at the time of discount of not more than 90 days, .exclusive of days of grace; except that (1) if drawn or issued for an agricultural purpose or based on livestock, it may have a maturity at the time of discount of not more than nine months, exclusive of days of grace, and (2) certain bills of exchange payable at sight or on demand are eligible even though they have no definite maturity (see Section VII, below); (6) It has been issued or drawn for an agricultural, industrial, or commercial purpose, or the proceeds have been used or are to be used for such a purpose, or it is a note, draft, or bill of exchange of a factor issued as such making advances .exclusively to producers of staple agricultural products in their raw state; (c) It was not issued or drawn for the purpose of carrying or trading in stocks, bonds, or other investment securities, except obligations of the Government of the United States;l (d) The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or guarantor, lediscounted for any member bank, shall at no time exceed the amount for which such person, copartnership, association, or corporation may lawfully become liable to a national banking association under the terms of section 5200 of the Revised Statutes, as amended; (e) It is indorsed by a member bank; and (/) It conforms to all applicable provisions of this regulation. No Federal reserve bank may discount for any member State bank or trust •company any of the notes, drafts, or bills of exchange of any one borrower who is liable for borrowed money to such State bank or trust company in an amount greater than that which could be borrowed lawfully from such State bank or trust company were it a national banking association. Any Federal reserve bank may make advances to its member banks on their promissory notes for a period not exceeding 15 days, provided that they are secured by ilotes, drafts, bills of exchange, or bankers' acceptances which are eligible for discount or for purchase by Federal reserve banks, or by the deposit or pledge of obligations of the Government of the United States. SECTION II. 3ENERAL CHARACTER OF NOTES, DRAFTS, AND BILLS OF EXCHANGE ELIGIBLE The Federal Reserve Board, exercising is statutory right to define the character of a note, draft, or bill of exchange eligible for discount at a Federal reserve bank has determined that— (a) It mujst be a negotiable note, draft, or bill of exchange which has been issued or drawn, or the proceeds of which have been used or are to be used in the first instance, in producing, purchasing, carrying, or marketing goods2 in one or more of the steps of the process of production, manufacture, or distribution, or for the purpose of carrying or trading in obligations of the Government of the United States, and the name of a party to such transaction must appear upon it as maker, drawer, acceptor, or indorser. (6) It must not be a note, draft, or bill of exchange the proceeds of which have been or are to be advanced or loaned to some other borrower, except as to paper described below under Sections VI (b) and VIIL 1 When used in this regulation, the words "obligations of the Government of the United States" shall be construed to include only bonds, notes, certificates of indebtedness and Treasury bills of the Government of the United States. 2 When used in this regulation the word "goods" shall be construed to include goods, wares, merchandise, or agricultural products, including livestock. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 233 (c) It must not be a note, draft, or bill of exchange the proceeds of which have been used or are to be used for permanent or fixed investments of any kind, such as land, buildings, or machinery, or for any other capital purpose. (d) It must not be a note, draft, or bill of exchange the proceeds of which have been used or are to be used for investments of a purely speculative character. (e) It may be secured by the pledge of goods or collateral of any nature, including paper which is ineligible for discount, provided it (the note, draft, or bill of exchange) is otherwise eligible. SECTION III. APPLICATIONS FOR DISCOUNT Every application for the discount of notes, drafts, or bills of exchange must contain a certificate of the member bank, in form to be prescribed by the Federal reserve bank, that— (1) To the best of its knowledge and belief, such notes, drafts, or bills of exchange have been issued or drawn, or the proceeds thereof have been or are to be used, for such a purpose as to render them eligible for discount under the terms of this regulation, and (2) That such notes, drafts, or bills of exchange have not been acquired from a nonmember bank, or, if so acquired, that the applying member bank has received permission from the Federal Reserve Board to discount with the Federal reserve bank paper acquired from nonmember banks. In the case of a member State bank or trust company, every such application must contain a certificate or guaranty to the effect that the borrower is not liable, and will not be permitted to become liable during the time his paper is held by the Federal reserve bank, to such bank or trust company for borrowed money in an amount greater than that which could be borrowed lawfully from such State bank or trust company were it a national banking association. SECTION IV. PROMISSORY NOTES (a) Definition.—A promissory note, within the meaning of this regulation, is defined as an unconditional promise, in writing, signed by the maker, to pay, in the United States, at a fixed or determinable future time, a sum certain in dollars to order or to bearer. (b) Evidence of eligibility and requirement of statements.—A Federal reserve bank must be satisfied by reference to the note or otherwise that it is eligible for discount, and the member bank shall certify in its application whether a financial statement of the borrower is on file with it. A recent financial statement of the borrower must be on file with the member bank if it has discounted the note for a nondepositor or a nonmember bank, and in all other cases unless— (1) It is secured by a warehouse, terminal, or other similar receipt covering goods in storage, by a valid prior lien on livestock which is being marketed or fattened for market, or by obligations of the Government of the United States; or (2) The aggregate of obligations of the borrower discounted and offered for discount at the Federal reserve bank by the member bank is less than a sum equal to 10 per cent of the paid-in capital of the member bank and is less than $5,000. Whenever the borrower has closely affiliated or subsidiary corporations or firms, the borrower's financial statement shall be accompanied by separate financial statements of such affiliated or subsidiary corporations or firms, unless the statement of the borrower clearly indicates that such note is both eligible from a legal standpoint and acceptable from a credit standpoint or unless financial statements of such affiliated or subsidiary corporations or firms are on file with the Federal reserve bank. A Federal reserve bank shall use its discretion in taking the steps necessary to satisfy itself as to eligibility. Compliance of a note with Section II (c) may be evidenced by a statement of the borrower showing a reasonable excess of quick assets over current liabilities. A Federal reserve bank may, in any case, require the financial statement of the borrower to be filed with it, SECTION V. DRAFTS, BILLS OF EXCHANGE, AND TRADE ACCEPTANCES (a) Definition.—A draft or bill of exchange, within the meaning of this regulation, is defined as an unconditional order in writing, addressed by one person ijo another, signed by the person giving it, requiring the person to whom it is addressed to pay in the United States, at a fixed or determinable future time, a sum certain in dollars to the order of a specified person; and a trade acceptance Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

234 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD is defined as a draft or bill of exchange, drawn by the seller on the purchaser of goods sold,3 and accepted by such purchaser. (b) Evidence of eligibility and requirement of statements.—A Federal reserve bank shall take such steps as it deems necessary to satisfy itself as to the eligibility of the draft, bill, or trade acceptance offered for discount and may require a recent financial statement of one or more parties to the instrument. The draft, bill, or trade acceptance should be drawn so as to evidence the character of the underlying transaction, but if it is not so drawn evidence of eligibility may consist of a stamp or certificate affixed by the acceptor or drawer in a form satisfactory to the Federal reserve bank. SECTION VI. AGRICULTURAL PAPER (a) Definition.—Agricultural paper, within the meaning of this regulation, is denned as a negotiable note, draft, or bill of exchange issued or drawn, or the proceeds of which have been or are to be used, for agricultural purposes, including the productiDn of agricultural products, the marketing of agricultural products by the growers thereof, or the carrying of agricultural products by the growers thereof pending orderly marketing, and the breeding, raising, fattening, or marketing of livestock, and which has a maturity at the time of discount of not more than nine months, exclusive of days of grace. (b) Paper of cooperative marketing associations.—Under the express terms of section 13a, notes, drafts, bills of exchange, or acceptances issued or drawn by cooperative marketing associations composed of producers of agricultural products are deemed to have been issued or drawn for an agricultural purpose, if the proceeds thereof have been or are to be— (1) Advanced by such association to any members thereof for an agricultural purpose; or (2) Used by such association in making payments to any members thereof on account of agricultural products delivered by such members to the association; or (3) Used by such association to meet expenditures incurred or to be incurred by the association in connection with the grading, processing, packing, preparation for market, or marketing of any agricultural product handled by such association for any of its members. These are not the only classes of paper of such associations which are eligible for discount, however, and any other paper of such associations which complies with the applicable requirements of this regulation may be discounted on the same terms and conditions as the paper of any other person or corporation. Paper of cooperative marketing associations the proceeds of which have been or are to be used (1) to defray the expenses of organizing such associations, or (2) for the acquisition of warehouses, for the purchase or improvement of real estate, or for any other permanent or fixed investment of any kind, are not eligible for discount, even though such warehouses or other property are to be used exclusively in connection with the ordinary operations of the association. (c) Eligibility.—To be eligible for discount, agricultural paper, whether a note, draft, bill of exchange, or trade acceptance, must comply with the respective sections of this regulation which would apply to it if its maturity were 90 days or less. (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 oank any such paper which bears the indorsement of 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. 2 A consignment of goods or a conditional sale of goods can not be considered "goods sold" within the meaning of this clause. The purchase price of goods plus the cost of labor in effecting their installation may be included in th3 amount for which the trade acceptance is drawn. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 235 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 shall at no time exceed an amount equal to the paid-up and unimpaired capital and surplus of such Federal intermediate credit bank. (e) Limitations.—The Federal Reserve Board prescribes no limitation on the aggregate amount of notes, drafts, bills of exchange, and acceptances with maturities in excess of three months, but not exceeding six months, exclusive of days of grace, which may be discounted by any Federal reserve bank; but the aggregate amount of notes, drafts, bills of exchange, and acceptances with maturities in excess of six months, but not exceeding nine months, which may be discounted by any Federal reserve bank shall not exceed 10 per cent of its total assets. SECTION VII. SIGHT DRAFTS SECURED BY BILLS OF LADING A Federal reserve bank may discount for any of its member banks bills of exchange payable at sight or on demand which— (a) Grow out of the domestic shipment or the exportation of nonperishable, readily marketable staples; and (6) Are secured by bills of lading or other shipping documents conveying or securing title to such staples. All such bills of exchange shall be forwarded promptly for collection, and demand for payment shall be made promptly, unless the drawer instructs that they be held until arrival of car, in which event they must be presented for payment within a reasonable time after notice of arrival of such staples at their destination has been received. In no event shall any such bill be held by or for the account of a Federal reserve bank for a period in excess of 90 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 amount thus deducted after payment of such bills to conform to the actual life thereof. SECTION VIII. FACTORS* PAPER Notes, drafts, and bills of exchange of factors issued as such for the purpose of making advances exclusively to producers of staple agricultural products in their raw state are eligible for discount with maturities not in excess of 90 days, exclusive of days of grace, irrespective of the requirements of Sections II (a) and II (6). SECTION IX. PAPER ACQUIRED FROM NONMEMBER BANKS (a) Except with the permission of the Federal Reserve Board, no Federal reserve bank shall discount any paper acquired by a member bank from a nonmember bank or bearing the signature or indorsement of a nonmember bank; except that Federal reserve banks may discount bankers' acceptances and other eligible paper bearing the signature or indorsement of a nonmember bank, if such paper was bought by the offering bank in good faith on the open market from some party other than the nonmember bank. (b) Applications for permission to rediscount paper acquired from nonmember banks shall be made in writing by the member banks which desire to offer such paper for rediscount and shall state fully the facts which gave rise to each application and the reasons why the applying member banks feel justified in seeking such permission. Such applications shall be addressed to the Federal Reserve Board, but shall be filed with the Federal reserve agent, who shall forward them promptly to the Federal Reserve Board with his recommendations. (c) The Federal Reserve Board hereby grants its permission for Federal reserve banks to discount for member banks paper bearing the signature or indorsement of Federal intermediate credit banks, if such paper is otherwise eligible under the law and this regulation. ARTICLE B—BANKERS' ACCEPTANCES 4 SECTION X. DEFINITION A banker's acceptance within the meaning of this regulation is defined as a draft or bill of exchange, whether payable in the United States or abroad and whether payable in dollars or some other money, of which the acceptor is a bank or trust * For regulations governing the acceptance by member banks of drafts and bills of exchange drawn on them, see Regulation C. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

236 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD company, 01 a firm, person, company, or corporation engaged generally in the business of granting bankers' acceptance credits. 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 an}7 of its dependencies or insular possession, 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,5 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 regularl}- 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 isecured 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. SECTION XII. MATURITIES (a) Legal requirements.—No such acceptance is eligible for discount which has a maturity at the time of discount in excess of 90 days' sight, exclusive of days of grace, except that acceptances drawn for agricultural purposes and secured at the time of acceptance by warehouse receipts or other such documentsconveying or securing title covering readily marketable staples may be discounted with maturities at the time of discount of not more than six months' sight,, exclusive of days of grace. (6) General conditions as to maturity of domestic acceptances.—Although a Federal reserve bank may legally discount an acceptance having a maturity at 4 A readily mark stable staple within the meaning of these regulations may be denned as an article of com merce, agriculture, or industry of such uses as to make it the subject of constant dealings in ready markets with such frequeni; quotations of price as to make (a) the price easily and definitely ascertainable and (6> the staple itself easy to realize upon by sale at any time. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 237 the time of discount not greater than that prescribed under (a), it may decline to discount any acceptance the maturity of which is in excess of the usual or customary period of credit required to finance the underlying transaction or which is in excess of that period reasonably necessary to finance such transaction. Since the purpose of permitting the acceptance of drafts secured by warehouse receipts or other such documents is to permit of the temporary holding of readily marketable staples in storage pending a reasonably prompt sale, shipment, or distribution, no such acceptance should have a maturity in excess of the time ordinarily necessary to effect a reasonably prompt sale, shipment, or distribution into the process of manufacture or consumption. SECTION XIII. EVIDENCE OF ELIGIBILITY A Federal reserve bank must be satisfied, either by reference to the acceptance itself or otherwise, that the acceptance is eligible for discount under the terms of the law and the provisions of this regulation. The bill itself should be drawn so as to evidence the character of the underlying transaction, but if it is not so drawn evidence of eligibility may consist of a stamp or certificate affixed by the acceptor in form satisfactory to the Federal reserve bank. REGULATION B, SERIES OF 1928 (Superseding Regulation B of 1924) OPEN MARKET PURCHASES OF BILLS OF EXCHANGE, TRADE ACCEPTANCES, AND BANKERS' ACCEPTANCES UNDER SECTION 14 SECTION I. GENERAL STATUTORY PROVISIONS Section 14 of the Federal reserve act provides that, under rules and regulations to be prescribed by the Federal Reserve Board, Federal reserve banks may purchase and sell in the open market, at home or abroad, from or to domestic or foreign banks, firms, corporations, or individuals, bills of exchange of the kinds and maturities made eligible by the act for discount and bankers' acceptances, with or without the indorsement of a member bank. SECTION II. GENERAL CHARACTER OF BILLS AND ACCEPTANCES ELIGIBLE The Federal Reserve Board, exercising it statutory right to regulate the purchase of bills of exchange and acceptances, prescribes that— (a) Any banker's acceptance or bill of exchange which is eligible for discount under the terms of Regulation A is eligible for purchase by Federal reserve banks in the open market, with or without the indorsement of a member bank, if— (1) It has been accepted by the drawee prior to purchase; or (2) It is accompanied or secured by shipping documents or by warehouse, terminal, or other similar receipts conveying security title; or (3) It bears a satisfactory bank indorsement; (6) A banker's acceptance growing out of a transaction involving the importation or exportation of goods may be purchased if it has a maturity not in excess of six months, exclusive of days of grace, provided that it conforms in other respects to the applicable requirements of Regulation A; and (c) A banker's acceptance growing out of a transaction involving the' storage within the United States of goods actually under contract for sale and not yet delivered or paid for may be purchased, provided that the acceptor is secured by the pledge of such goods, and provided further, that the acceptance conforms in other respects to the applicable requirements of Regulation A. SECTION III. STATEMENTS A bill of exchange, unless indorsed by a member bank, is not eligible for purchase until a satisfactory statement has been furnished of the financial condition of one or more of the parties thereto. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

238 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD A banker's acceptance, unless accepted or indorsed by a member bank, is not eligible for purchase until the acceptor has furnished a satisfactory statement of its financial condition in form to be approved by the Federal reserve bank and has agreed in writing with a Federal reserve bank to inform it upon request concerning the transaction underlying the acceptance. REGULATION C, SERIES OF 1928 (Superseding Regulation C of 1924) ACCEPTANCE BY MEMBER BANKS OF DRAFTS AND BILLS OF EXCHANGE l ARTICLE A.—ACCEPTANCE OF DRAFTS OR BILLS OF EXCHANGE DRAWN AGAINST DOMESTIC OR FOREIGN SHIPMENTS OF GOODS OR SECURED BY WAREHOUSE RECEIPTS COVERING READILY MARKETABLE STAPLES SECTION I. STATUTORY PROVISIONS Under the provisions of the sixth paragraph of section 13 of the Federal reserve act, as amended, any member bank may accept drafts or bills of exchange drawn upon it, having not more than six months' sight to run, exclusive of days of grace, which grow out of transactions involving the importation or exportation of goods; or which grow out of transactions involving the domestic shipment of goods, provided shipping documents conveying or securing title are attached at the time of acceptance; or which are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples.2 This paragraph limits the amount which any bank shall accept for any one person, company, firm, or corporation, whether in a foreign or domestic transaction, to an amount not exceeding at any time, in the aggregate, more than 10 per cent of its paid-up and unimpaired capital stock and surplus. This limit, however, does not apply in any case where the accepting bank remains secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance. A trust receipt which permits the customer to have access to or control over the goods will not be considered by Federal reserve banks to be "actual security" within the meaning of section 13. A bill of lading draft, however, is "actual security" even after the documents have been released, provided that the draft is accepted by the drawee upon or before the surrender of the documents. The law also provides that any bank may accept such bills up to an amount not exceeding at any time, in the aggregate, more than one-half of its paid-up and unimpaired capital stock and surplus; or, with the approval of the Federal Reserve Board, up to an amount not exceeding at any time, in the aggregate, more than 100 per cent of its paid-up and unimpaired capital stock and surplus. In no event, however, shall the aggregate amount of acceptances growing out of domestic transactions exceed 50 per cent of such capital stock and surplus. SECTION II. REGULATIONS (1) Under the provisions of the law referred to above the Federal Reserve Board has determined that any member bank, having an unimpaired surplus equal to at least 20 per cent of its paid-up capital, which desires to accept drafts or bills of exchange drawn for the purposes described above, up to an amount not exceeding at any time, in the aggregate, 100 per cent of its paid-up and unimpaired capital stock and surplus, may file an application for that purpose with the Federal Reserve Board. Such application must be forwarded through the Federal reserve bank of the district in which the applying bank is located. (2) The Federal reserve bank shall report to the Federal Reserve Board upon the standing of the applying bank, stating whether the business and banking conditions prevailing in its district warrant the granting of such application. (3) The approval of any such application may be rescinded upon 90 days' notice to the bank affected. 1 For regulations governing the rediscount of bankers' acceptances by Federal reserve banks, see Regulation A, Article B. 2 A readily marketable staple within the meaning of these regulations may be defined as an article of commerce, agriculture, or industry of such uses as to make it the subject of constant dealings in ready markets with such frequent quotations of price as to make (a) the price easily and definitely ascertainable, Digitized foarn dF R(6A) SthEe Rsta ple itself easy to realize upon by sale at any time. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 239 ARTICLE B.—ACCEPTANCE OF DRAFTS OR BILLS OF EXCHANGE DRAWN FOR THE PURPOSE OF CREATING DOLLAR EXCHANGE SECTION III. STATUTORY PROVISIONS Section 13 of the Federal reserve act also provides that any member bank may accept drafts or bills of exchange drawn upon it having not more than three months' sight to run, exclusive of days of grace, drawn, under regulations to be prescribed by the Federal Reserve Board, by banks or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange as required by the usages of trade in the respective countries, dependencies, or insular possessions. No member bank shall accept such drafts or bills of exchange for any one bank to an amount exceeding in the aggregate 10 per cent of the paid-up and unimpaired capital and surplus of the accepting bank unless the draft or bill of exchange is accompanied by documents conveying or securing title or by some other adequate security. No member bank shall accept such drafts or bills in an amount exceeding at any time in the aggregate one-half of its paid-up and unimpaired capital and surplus. This 50 per cent limit is separate and distinct from and not included in the limits placed upon the acceptance of drafts and bills of exchange as described under Article A of this regulation. SECTION IV. REGULATIONS Any member bank desiring to accept drafts drawn by banks or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange shall first make an application to the Federal Reserve Board setting forth the usages of trade in the respective countries, dependencies, or insular possessions in which such banks or bankers are located. If the Federal Reserve Board should determine that the usages of trade in such countries, dependencies, or possessions require the granting of the acceptance facilities applied for, it will notify the applying bank of its approval and will also publish in the Federal Reserve Bulletin the name or names of those countries, dependencies, or possessions in which banks or bankers are authorized to draw on member banks whose applications have been approved for the purpose of furnishing dollar exchange. The Federal Reserve Board reserves the right to modify or on 90 days' notice to revoke its approval either as to any particular member bank or as to any foreign country or dependency or insular possession of the United States in which it has authorized banks or bankers to draw on member banks for the purpose of furnishing dollar exchange. REGULATION D, SERIES OF 1930 (Superseding Regulation D of 1928) RESERVES OF MEMBER BANKS SECTION I. STATUTORY PROVISIONS Section 19 of the Federal reserve act provides, in part, as follows: BANK RESERVES SEC. 19. Demand deposits within the meaning of this act shall comprise all deposits payable within thirty days, and time deposits shall comprise all deposits payable after thirty days, all savings accounts and certificates of deposit which are subject to not less than thirty days' notice before payment, and all postal savings deposits. Every bank, banking association, or trust company which is or which becomes a member of any Federal reserve bank shall establish and maintain reserve balances with its Federal reserve bank as follows: (a) If not in a reserve or central reserve city, as now or hereafter defined, it shall hold and maintain with the Federal reserve bank of its district an actual net balance equal to not less than seven per centum of the aggregate amount of its demand deposits and three per centum of its time deposits. (6) If in a reserve city, as now or hereafter denned, it shall hold and maintain with the Federal reserve bank of its district an actual net balance equal to not less than ten per centum of the aggregate amount of its demand deposits and three per centum of its time deposits: Provided, however, That if located in the outlying districts of a reserve city or in territory added to^such a city by the extension of its corporate charter, it may, upon the affirmative vote of five members of the Federal Reserve Board, hold and maintain the reserve balances specified in paragraph (a) hereof. (c) If in a central reserve city, as now or hereafter denned, it shall hold and maintain with the Federal reserve bank of its district an actual net balance equal to not less than thirteen per centum of the aggregate amount of its demand deposits and three per centum of its time deposits: Provided, however, That if located in the outlying districts of a central reserve city or in territory added to such city by the extension Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

240 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD of its corporate charter, it may, upon the affirmative vote of five members of the Federal Reserve Board* hold and maintain the reserve balances specified in paragraphs (a) or (6) thereof. * * * * * * * The required balance carried by a member bank with a Federal reserve bank may, under the regulations and subject to such penalties as may be prescribed by the Federal Reserve Board, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities: Provided, however, That no bank sr all at any time make new loans or shall pay any dividends unless and until the total balance required by law is fully restored. In estimating the balances required by this act, the net difference of amounts due to and from other banks shall be taken :is the basis for ascertaining the deposits against which required balances with Federal reserve banks shall be determined. The various Liberty bond acts (act of April 24, 1917, sec. 7; act of September 24, 1917, sec. 8; act of April 4, 1918, sec. 8) provide, in part, as follows: That the provisions * * * with reference to the reserves required to be kept by national banking associations and other member banks of the Federal reserve system, shall not apply to deposits of public moneys by the United States in designated depositaries. SECTION II. DEFINITIONS (a) Demand deposits.—The term "demand deposits" shall include all deposits which are payable within 30 days except "savings accounts," "time certificates of deposit," and "postal savings deposits/' as defined below. (b) Time deposits.—The term "time deposits" shall include all "time deposits, open accounts," all "savings accounts," all "time certificates of deposit," and all "postal savings deposits," as defined below. (c) Time deposits, open accounts.—The term "time deposits, open accounts" shall mean deposits not evidenced by certificates of deposit or savings pass books, in respect to which a written contract is entered into with the depositor at the time the deposit is made that neither the whole nor any part of such deposit may be withdrawn, by check or otherwise, except on a given date, not less than 30 days after the date of the deposit, or on written notice which must be given by the: depositor a certain specified number of days in advance, in no case less than 30 days. (d) Savings accounts.—The term "savings accounts" shall mean those deposits <in respect to which— (1) The pass book, certificate, or other similar form of receipt must be presented to the bank whenever a withdrawal is made. (2) The depositor may at any time be required by the bank to give notice of an intended withdrawal not less than 30 days before a withdrawal is made, and (3) The bank's printed regulations, accepted by the depositor at the time the account is opened, include the above requirements. (e) Time certificates of deposit.—A "time certificate of deposit" is defined as an instrument evidencing the deposit with a bank, either with or without interest, of a certain sum specified on the face of the certificate payable in whole or in part to the depositor or on his order— (1) On a certain date, specified on the certificate, not less than 30 days •after the date of the deposit, or (2) After the lapse of a certain specified time subsequent to the date of the certificate, in no case less than 30 days, or (3) Upon written notice, which the bank may at its option require to be given a certain specified number of days, not less than 30 days, before the date of repayment, and (4) In all cases only upon presentation of the certificate at each withdrawal for proper indorsement or surrender. (/) Postal savings deposits.—The term "postal savings deposits" shall mean deposits of postal savings funds in banks under the terms of the postal savings act, approved June 25, 1910, as amended. (g) Government deposits.—The term "Government deposits" shall mean deposits of public moneys by the United States in designated depositaries.1 1 Deposits made by United States postmasters of Government funds, other than postal savings deposits, received by them in their official capacity, constitute "Government deposits" within the meaning of this regulation and, when made in designated depositaries, are exempt from the reserve requirements of section 19. The following classes of deposits, however, are not "Government deposits" within such meaning and are not exempt from reserve requirements: (1) Deposits o) Philippine funds made by the Philippine Government and carried under the title, " Treasurer of the Philippine Islands currency reserve fund account." (2) Deposits o:? Porto Rican funds made by the Porto Rican Government. (3) Deposits o' Indian funds under the control of the Department of the Interior. (4) Deposits o:? States, counties, or municipalities. (5) Deposits or the United States Shipping Board and the Emergency Fleet Corporation. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD SECTION III. COMPUTATION OF RESERVES (a) Amounts of reserves to be maintained.—Every member bank of the Federal reserve system is required by law to maintain on deposit with the Federal reserve bank of its district an actual net balance equal to 3 per cent of its time deposits plus— Seven per cent of its demand deposits if not in a reserve or central reserve city. Ten per cent of its demand deposits if in a reserve city, except that if located in an outlying district2 of a reserve city or in territory added to such city by the extension of the city's corporate limits such bank may, upon the affirmative vote of five members of the Federal Reserve Board, be permitted to maintain 7 per cent reserves against its demand deposits. Thirteen per cent of its demand deposits if located in a central reserve city, except that if located in an outlying district2 of a central reserve city or in territory added to such city by the extension of the city's corporate limits, such bank may, upon the affirmative vote of five members of the Federal Reserve Board, be permitted to maintain 7 per cent or 10 per cent reserves against its demand deposits. No reserves are reported to be maintained against Government deposits as defined above. A member bank exercising trust powers need not maintain reserves against trust funds which it keeps segregated and apart from its general assets or which it deposits in another institution to the credit of itself as trustee or other fiduciary. If, however, such funds are mingled with the general assets of the bank, as permitted to national banks under authority of Section 11 (k) of the Federal reserve act, a deposit liability thereby arises against which reserves must be maintained. In computing reserve requirements, trust funds deposited in a member bank by another bank to the credit of such other bank as trustee or other fiduciary must be classified by the member bank as individual deposits rather than bank deposits. (6) Deductions allowed in computing reserves.—Member banks in determining the amount against which reserves must be carried may deduct: (1) From gross demand deposits, all Government deposits as defined above. (2) From the amount oi balances due to other batiks, the amount of balances due from other banks (except Federal reserve banks and foreign banks), including in the amount due to other banks certified, cashiers', and treasurers' checks outstanding, and including in the amount due from other banks out of town items placed in the mail and charged to the account of correspondent banks, items with a Federal reserve bank in process of collection, checks drawn on banks located in the same city, and exchanges for clearing houses. (c) Availability of checks as reserve.—Checks forwarded to a Federal reserve bank for collection or credit can not be counted as part of the minimum reserve balance to be carried by a member bank with its Federal reserve bank until such time as may be specified in the appropriate time schedule referred to in Section IV of Regulation J. If a member bank draw against checks before such time, the draft will be charged against its reserve balance if such balance be sufficient in amount to pay it; but any resulting impairment of reserve balances will be subject to all the penalties provided by the act and by this regulation. SECTION IV. PENALTIES FOR DEFICIENCIES IN RESERVES Inasmuch as it is essential that the law with respect to the maintenance by member banks of the required minimum reserve balances be strictly complied with, the Federal Reserve Board, under authority vested in it by section 19 of the Federal reserve act, hereby prescribes the following rules governing penalties for deficiencies in reserves: (a) Basic penalty. (1) Deficiencies in reserve balances of member banks in cities where Federal reserve banks or branches thereof are located and in such other reserve cities as the Federal Reserve Board may designate from time to time will be computed on the basis of average daily net deposit balances covering semiweekly periods. Deficiencies in reserve balances of member banks in all other reserve cities will -be computed on the basis of average daily net deposit balances covering weekly > The term "outlying district" is construed to mean that portion of a city which is located outside of, and at a considerable distance from, the recognized business and financial center of such city, and includes, all suburban districts within the corporate limits of such city. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

242 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD periods. Deficiencies in reserve balances of other member banks will be computed on the basis of average daily net deposit balances covering semimonthly periods. (2) In computing such deficiencies the required reserve balance of each member bank at the close of business each day shall be based upon its net deposit balances at the opening of business on the same day; and the semiweekly, weekly, and semimonthly periods referred to in paragraph (1) hereof shall end at the close of business on days to be fixed by the Federal reserve banks with the approval of the Federal Reserve Board. (3) Penalties for such deficiencies will be assessed monthly on the basis of average daily deficiencies during each of the reserve computation periods ending in the preceding calendar month. (4) Such penalties shall be assessed at a basic rate of 2 per cent per annum above the Federal reserve bank discount rate on 90-day commercial paper, in effect on the first day of the calendar month in which the deficiencies occurred. (6) Notice to directors of banks deficient in reserves.—Whenever it shall appear that a bank is not paying due regard to the maintenance of its reserves, the Federal reserve agent will address a letter to each director of such bank calling attention to i;he situation and advising him of the requirements of the law and of this regulation regarding the maintenance of reserves and the personal liability of the directors permitting violations of the law. (c) Progressive penalty.—-The Federal Reserve Board will also prescribe for any Federal reserve district, upon the application of the Federal reserve bank of that district, an additional progressive penalty for continued deficiencies in reserves, in accordance with the following rules: (1) When a member bank which is required to compute its reserve* on a semiweekly basis has an average deficiency in reserves for twelve consecutive semiweekly periods, there shall be assessed, in addition to the penalty at the basic rate, a progressive penalty on semiweekly deficiencies occurring thereafter, until such member bank has maintained the required average reserve for eight consecutive semiweekly periods. (2) When a member bank which is required to compute its reserves on a weekly basis has an average deficiency in reserves for six consecutive weekly periods,, there shall be assessed, in addition to the penalty at the basic rate, a progressive penalty on weekly deficiencies occurring thereafter, until such member bank has maintained the required average reserve for four consecutive weekly periods. (3) When any other member bank has an average deficiency in reserves for three consecutive semimonthly periods, there shall be assessed, in addition to the penalty at the basic rate, a progressive penalty on semimonthly deficiencies occurring thereafter, until such member bank has maintained the required average reserve for two consecutive semimonthly periods. (4) Such progressive penalty shall be at the rate of 1 per cent per annum for the first calen dar month in wThich same is effective and shall increase at the rate of 1 per cent per annum for each consecutive calendar month thereafter in which the bank's reserve deficiencies are subject to the progressive penalty; provided that the maximum penalty charged shall not exceed 10 per cent per annum. (d) Continued deficiencies.—Whenever any member bank has an average deficiency in reserves for each reserve computation period during six consecutive months, the Federal reserve agent shall promptly report the fact to the Federal Reserve Board with a recommendation as to whether or not the board should: (1) In the case of a national bank, direct the Comptroller of the Currency to bring suit to forfeit the charter of such national bank pursuant to section 2 of the Federal reserve act; or (2) In the case of a State member bank, institute proceedings to require such bank to surrender its stock in the Federal reserve bank and to forfeit all rights and privileges of membership pursuant to section 9 of the Federal reserve act; or (3) In either case, take such other action as the Federal reserve agent may recommend or the Federal Reserve Board may consider advisable. SECTION V. LOANS AND DIVIDENDS WHILE RESERVES ARE DEFICIENT It is unlawful for any member bank the reserves of which are at any time deficient to make any new loans or p&y any dividends unless and until the total reserves required by law are fully restored, and the payment of penalties for deficiencies in reserves does not exempt member banks from this prohibition of law. As provided above, penalties for deficiencies in reserves are computed on the basis of the average reserve balances for semiweekly, weekly, or semimonthly periods; but i}his prohibition of law applies whenever the reserves are deficient for one day or more, regardless of whether or not the average reserve balances for the semiweekly, weekly, or semimonthly period are deficient. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 243 REGULATION E, SERIES OF 1928 (Superseding Regulation E of 1924) PURCHASE OF WARRANTS SECTION I. STATUTORY REQUIREMENTS Section 14 of the Federal reserve act reads in part as follows: Every Federal reserve bank shall have power— (6) To buy and sell, at home or abroad, bonds and notes of the United States, and bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts, such purchases to be made in accordance with rules and regulations prescribed by the Federal Reserve Board. SECTION II. DEFINITIONS Within the meaning of this regulation— The term "warrant" shall be construed to mean "bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months.1' The term "municipality" shall be construed to mean "State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage, and reclamation districts.7' The term "net funded indebtedness" shall be construed to mean the legal gross indebtedness of the municipality (including the amount of any school district or other bonds which depend for their redemption upon taxes levied upon property within the municipality) less the aggregate of the following items: (1) The amount of outstanding bonds or other debt obligations made payable from current revenues; (2) The amount of outstanding bonds issued for the purpose of providing the inhabitants of a municipality with public utilities, such as waterworks, docks, electric plants, transportation facilities, etc.: Provided, That evidence is submitted showing that the income from such utilities is sufficient for maintenance, for payment of interest on such bonds, and for the accumulation of a sinking fund sufficient for their redemption at maturity; (3) The amount of outstanding improvement bonds, issued under laws which provide for the levying of special assessments against abutting property in amounts sufficient to insure the payment of interest on the bonds and the redemption thereof at maturity: Provided, That such bonds are direct obligations of the municipality and included in the gross indebtedness of the municipality; and (4) The total of all sinking funds accumulated for the redemption of the gross indebtedness of the municipality, except sinking funds applicable to bonds described in (1), (2), and (3) above. SECTION III. CLASS OF WARRANTS ELIGIBLE FOR PURCHASE Any Federal reserve bank may purchase warrants issued by a muncipality in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues, provided— (a) They are the general obligations of the entire municipality; it being intended to exclude as ineligible for purchase all such obligations as are payable from "local benefit" and "special assessment" taxes when the municipality at large is not directly or ultimately liable; (6) They are issued in anticipation of taxes or revenues which are due and payable on or before the date of maturity of such warrants; but the Federal Reserve Board may waive this condition in specific cases. For the purposes of this regulation, taxes shall be considered as due and payable on the last day on which they may ^e paid without penalty; (c) They are issued by a municipality— (1) Which has been in existence for a period of 10 years; (2) Which for a period of 10 years previous to the purchase has not defaulted for longer than 15 days in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it; (3) Whose net funded indebtedness does not exceed 10 per centum of the valuation of its taxable property, to be ascertained by the last preceding valuation of property for the assessment of taxes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

244 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SECTION IV. "EXISTENCE" AND "NONDEFAULT" Warrants will be construed to comply with that part of Section III (c) relative* to term of existence and nondefault, under the following conditions: (1) Warrants issued by or in behalf of any municipality which was, subsequent to the issuance of such warrants, consolidated with or merged into an existing political division which meets the requirements of these regulations, will be deemed to be the warrants of such political division: Provided, That such warrants were assumed by such political division under statutes and appropriate proceedings the effect of which is to make such warrants general obligations of such assuming political division and payable, either directly or ultimately, without limitation to a special fund from the proceeds of taxes levied upon all the taxable real and personal property within its territorial limits. (2) Warrants issued by or in behalf of any municipality which was, subsequentto the issuance of such warrants, wholly succeeded by a newly organized political division whose term of existence, added to that of such original political division or of any other political division so succeeded, is equal to a period of 10 years will be deemed to be warrants of such succeeding political division: Provided, That during such period none of such political divisions shall have defaulted for a period exceeding 15 days in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it: And provided further, That such warrants were assumed by such new political division under statutes and appropriate proceedings the effect of which is to make such warrants generaL obligations of such assuming political division and payable, either directly or ultimately, without limitation to a special fund from the proceeds of taxes levied upon all the taxable real and personal property within its territorial limits. (3) Warrants issued by or in behalf of any municipality which, prior to such issuance, became the successor of one or more, or was formed by the consolidation or merger of two or more, preexisting political divisions, the term of existence of one or more of which, added to that of such succeeding or consolidated political division, is equal to a period of 10 years, will be deemed to be warrants of a political division which has been in existence for a period of 10 years: Provided, That during such period none of such original, succeeding, or consolidated political divisions shall have defaulted for a period exceeding 15 days in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it. SECTION V. LIMITATIONS (a) Except with the approval of the Federal Reserve Board, no Federal' reserve bank shall purchase and hold an amount in excess of 25 per cent of the total amount of warrants outstanding at any time'and issued in conformity with provisions of section 14 (6), above quoted, and actually sold by a municipality. (b) Except with the approval of the Federal Reserve Board, the aggregate amount invented by any Federal reserve bank in warrants of all kinds shall not exceed at the time of purchase a sum equal to 10 per cent of the deposits kept by its member banks with such Federal reserve bank. (c) Except with the approval of the Federal Reserve Board, the maximum amount which may be invested at the time of purchase by any Federal reserve bank in warrants of any single municipality shall be limited to the following percentages of the deposits kept in such Federal reserve bank by its member banks: Five per cent of such deposits in warrants of a municipality of 50,000 population or over; Three per cent of such deposits in warrants of a municipality of over 30,000 population, but less than 50,000; One per cent of such deposits in warrants of a municipality of over 10,000 population, but less than 30,000. (d) Any Federal reserve bank may purchase from any of its member banks warrants of any municipality, indorsed by such member bank, with waiver of demand, notice, and protest if such warrants comply with Sections III and V (b) of these regulations, except that where a period of 10 years is mentioned in III (c) hereof a period of 5 years shall be substituted for the purposes of this clause. SECTION VI. WARRANTS OF SMALL MUNICIPALITIES Warrants of a municipality of 10,000 population or less shall be purchased only with the special approval of the Federal Reserve Board. The population of a municipality shall be determined by the last Federal or State census. Where it can not be exactly determined the Federal Reserve Digitized foBr FoRarAdS EwRil l make special rulings. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 245 SECTION VII. OPINION OF COUNSEL Opinion of recognized counsel on municipal issues or of the regularly appointed counsel of the municipality as to the legality of the issue shall be secured anct approved in each case by counsel for the Federal reserve bank. REGULATION F, SERIES OF 1930 (Superseding Regulation F of 1928) TRUST POWERS OF NATIONAL BANKS SECTION I. STATUTORY PROVISIONS The Federal reserve act as amended by the act of September 26, 1918, and by the act of June 26, 1930, provides in part: SEC. 11. The Federal Reserve Board shall be authorized and empowered: (k) To grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in 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. Whenever the laws of such State authorize or permit the exercise of any or all of the foregoing powers by State banks, trust companies, or other corporations which compete with national banks, the granting to, and the exercise of such powers by national banks shall not be deemed to be in contravention of State or local law within the meaning of this act. National banks exercising any or all of the powers enumerated in this subsection shall segregate all assets, held in any fiduciary capacity from the general assets of the bank and shall keep a separate set of books and records showing in proper detail all transactions engaged in under authority of this subsection. Such books and records shall be open to inspection by the State authorities to the same extent as the books and records of corporations organized under State law which exercise fiduciary powers, but nothing in this act shall be construed as authorizing the State authorities to examine the books, records, and assets of the national bank which are not held in trust under authority of this subsection. No national bank shall receive in its trust department deposits of current funds subject to check or the deposit of checks, drafts, bills of exchange, or other items for collection or exchange purposes. Funds deposited or held in trust by the bank awaiting investment shall be carried in a separate account and shall not be used by the bank in the conduct of its business unless it shall first set aside in the trust department United States bonds or other securities approved by the Federal Reserve Board. In the event of the failure of such bank the owners of the funds held in trust for investment shall have a lien on the bonds or other securities so set apart in addition to their claim against the estate of the bank. Whenever the laws of a State require corporations acting in a fiduciary capacity, to deposit securities with, the State authorities for the protection of private or court trusts, national banks so acting shall be required to make similar deposits and securities so deposited shall be held for the protection of private or court trusts,, as provided by the State law. National banks in such cases shall not be required to execute the bond usually required of individuals if State corporations under similar circumstances are exempt from this requirement. National banks shall have power to execute such bond when so required by the laws of the State. In any case in which the laws of a State require that a corporation acting as trustee, executor, administrator, or in any capacity specified in this section, shall take an oath or make an affidavit, the president, vica president, cashier, or trust officer of such national bank may take the necessary oath or execute the necessary affidavit. It shall be unlawful for any national banking association to lend any officer, director, or employee any funds held in trust under the powers conferred by this section. Any officer, director, or employee making such loan, or to whom such loan is made, may be fined not more than $5,000, or imprisoned not more than five years, or may be both fined and imprisoned, in the discretion of the court. In passing upon applications for permission to exercise the powers enumerated in this subsection, the Federal Reserve Board may take into consideration the amount of capital and surplus of the applying bank, whether or not such capital and surplus is sufficient under the circumstances of the case, the needs of the community to be served, and any other facts and circumstances that seem to it proper, and may grant or refuse the application accordingly: Provided, That no permit shall be issued to any national banking association having a capital and surplus less than the capital and surplus required by State law of Stat& banks, trust companies, and corporations exercising such powers. Any national banking association desiring to surrender its right to exercise the powers granted under this subsection, in order to relieve itself from the necessity of complying with the requirements of this, subsection, or to have returned to it any securities which it may have deposited with the State authorities for the protection of private or court trusts, or for any other purpose, may file with the Federal Reserve- Board a certified copy of a resolution of its board of directors signifying such desire. Upon receipt of such a resolution, the Federal Reserve Board, after satisfying itself that such bank has been relieved in accordance with State law of all duties as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, leceiyer, committee of estates of lunatics or other fiduciary, under court, private, or other appointments previously accepted under authority of this subsection, may, in its discretion, issue to. such bank a certificate certifying that such bank is no longer authorized to exercise the powers granted by this subsection. Upon the issuance of such a certificate by the Federal Reserve Board, such bank (1) shall no longer be subject to the provisions of this subsection or the regulations of the Federal Reserve Board made pursuant thereto, (2) shall be entitled to have returned to it any securities which it may have de^ posited with the State authorities for the protection of private or court trusts, and (3) shall not exercisethereafter any of the powers granted by this subsection without first applying for and obtaining a new permit to exercise such powers pursuant to the provisions of this subsection. The Federal Reserve Board is authorized and empowered to promulgate such regulations as it may deem necessary to enforce conn pliance with the provisions of this subsection and the proper exercise of the powers granted therein. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

246 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SECTION II. APPLICATIONS A national bank desiring to exercise any or all of the powers authorized by by section 11 (k) of the Federal reserve act, as amended by the act of September 26, 1918, shall make application to the Federal Reserve Board, on a form approved by said board, for a special permit authorizing it to exercise such powers. In the case of an original application—that is, where the applying bank has never been granted the right to exercise any of the powers authorized by section 11 (k)—the application should be made on F. R. B. Form 61. In the case of a supplemental application—that is, where the applying bank has already been granted the right to exercise one or more of the powers authorized by section 11 (k)—the application should be made on F. R. B. Form 61-6. Both forms are made a part of this regulation any may be obtained from the Federal Reserve Board or any Federal reserve bank. In the case of the organization of a new national bank, the conversion of a State bank or trust company into a national bank, the consolidation of two national banks, or the consolidation of a State bank or trust company with a national bank under the charter of the latter, application for such a permit may be made in advance on behalf of the new, converted, or consolidated national bank, and the permit may be issued simultaneously with the consummation of such organi5;ation, conversion, or consolidation. In the case of the organization of a new national bank, the application may be made on behalf of the new national bank by the organizers thereof. In the case of the conversion of a State bank or trust company into a national bank, the application may be made by the State bank or trust company on behalf of the national bank into which it is to be converted. In the case of the consolidation of two or more national banks or the consolidation of a State bank or trust company with a national bank under the charter of the latter, the application may be made by the national bank the charter of which is to be retained. SECTION III. CONSOLIDATION OF TWO OR MORE NATIONAL BANKS Where two or more national banks consolidate under the provisions of the act of November 7, 1918, and any one of such banks has, prior to such consolidation, received a permit from the Federal Reserve Board to act in fiduciary capacities, the rights existing under such permit pass by operation of law to the consolidated bank and the consolidated bank may exercise such fiduciary powers in the same manner and to the same extent as the bank to which such permit was originally issued. In order that the consolidated bank's records may be complete and its right to exercise such fiduciary powers may not be questioned, however, it is advisable for the consolidated bank to obtain from the Federal Reserve Board a permit to exercise fiduciary powers in its own name. Such a permit may be applied for in advance of the consolidation and may be issued in the name of the consolidated bank effective when the consolidation is consummated. SECTEON IV. CONSOLIDATION OF STATE BANK WITH NATIONAL BANK Section 3 of the act November 7, 1918, as amended by section 1 of the act of February 2&, 1927, which authorizes any bank, trust company, savings bank, or other banking institution incorporated under the laws of any State or of the ^District of Columbia to be consolidated directly with a national bank located in the same county, city, town, or village under the charter of such national bank, provides in part that when such consolidation is effected— * * * all the rights, franchises, and interests of such State or district bank so consolidated with a national bankir g association in and to every species of property, real, personal, and mixed, and choses in action thereto belonging, shall be deemed to be transferred to and vested in such national banking association into which it is consolidated without any deed or other transfer, and the said consolidated national banking association shall hold and enjoy the same and all rights of property, franchises, and interests including the right of succession as trustee, executor, or in any other fiduciary capacity in the same manner and to the same extent us was held and enjoyed by such State or district bank so consolidated with such national banking association. * * * * * * * The words estate bank," "State banks," "bank," or "banks," as used in this section, shall be held to include trust companies, savings banks, or other such corporations or institutions carrying on the banking business under the authority of State laws. The purpose of this provision is to make clear the right of such a consolidated national ba:ik to succeed to the specific trusteeships, executorships, and other fiduciary appointments under which the State institution was acting prior to the consolidation or in which it had been appointed or designated to act under Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KEGULATIONS OF THE FEDERAL RESERVE BOARD 247 wills or other instruments which had not become effective at the time of consolidation through the death of a testator, the probate of a will or otherwise; but it does not confer upon such national banks the right to act generally in fiduciary capacities or to undertake any new trust business. It is necessary for the consolidated national bank to have a permit from the Federal Reserve Board to act in fiduciary capacities, therefore, before undertaking to act generally in fiduciary capacities or to accept any new trust business. If the national bank does not desire to act generally in fiduciary capacities or to accept any new trust business, but desires merely to continue to execute the specific trusteeships, executorships, and other fiduciary affairs which were actually being executed by the State institution at the time of the consolidation or which the State institution had been designated to execute under wills or other instruments which had not yet become effective through the death of the testator, the probate of the will or otherwise, it is not technically necessary for the national bank to have a permit from the Federal Reserve Board in order to execute such specific trusts; but it is advisable for the national bank to have such a permit, in order that its right to continue to execute these trusts may not be questioned. In all cases involving the consolidation of a State institution having a trust business with a national bank under the provisions of the above-mentioned act, therefore, the national bank should obtain from the Federal Reserve Board a permit to act in fiduciary capacities before the consolidation becomes effective, unless such national bank already has such a permit. SECTION V. SEPARATE TRUST DEPARTMENTS Every national bank which obtains from the Federal Reserve Board a permit to act in fiduciary capacities shall establish a separate trust department. Such department shall be established before such bank undertakes to act in any fiduciary capacity and shall be- placed under the management of an officer or officers whose duties shall be prescribed by the board of directors of the bank, either by an amendment to the by-laws of the bank or by a resolution duly entered in the minutes of the board of directors. SECTION VI. DEPOSIT OF SECURITIES WITH STATE AUTHORITIES Whenever the laws of a State require corporations acting in a fiduciary capacity to deposit securities with the State authorities for the protection of private or court trusts, every national bank in such State which obtains a permit from the Federal Reserve Board to act in fiduciary capacities shall, before undertaking to act in such capacities, make a similar deposit of securities. Such securities shall be deposited with the State authorities, unless the State authorities refuse to accept them. If the State authorities refuse to accept such securities, they shall be deposited with the Federal reserve agent of the district in which such national bank is located. Securities so deposited shall be held for the protection of private or court trusts, as provided by the State law. SECTION VII. CUSTODY OF TRUST SECURITIES AND INVESTMENTS The securities and investments held in each trust shall be kept separate and distinct from the securities owned by the bank and separate and distinct one from another. Trust securities and investments shall be placed in the joint custody of two or more officers or other employees designated by the board of directors of the bank and all such officers and employees shall be bonded. SECTION VIII. FUNDS AWAITING INVESTMENT OR DISTRIBUTION (a) In general.—Funds received or held in the trust department of a national bank awaiting investment or distribution shall be invested or distributed as soon as practicable and shall not be held uninvested by the bank any longer than is reasonably necessary. (6) Deposits in commercial or savings department of trustee bank.—Funds received or held in the trust department of a national bank awaiting investment or distribution may be deposited in the commercial department or savings department of the bank to the credit of the trust department; provided that the bank first delivers to the trust department, as collateral security— (1) Bonds, notes, or certificates of indebtedness of the United States; or (2) Other readily marketable securities of the classes in which State trust companies or State banks exercising trust powers are authorized or per- 33454r—31—17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

248 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD mittecl to invest trust funds under the laws of the State in which such bank is located; or (3) Other readily marketable securities of the classes defined as "investment securities" pursuant to section 5136 of the Revised Statutes of the United States as amended by the act of February 25, 1927. The United States bonds or other securities so deposited as collateral shall be owned by the bank and shall at all times be at least equal in market value to the amount of trust funds so deposited in the commercial department.1 SECTION IX. INVESTMENT OF TRUST FUNDS (a) Private trusts.—Funds held in trust must be invested as soon as practicable in strict accordance with the terms of the will, deed, or other instrument creating the trust. Where the instrument creating the trust contains provisions authorizing the bank, its officers, or its directors to exercise their discretion in the matter of investments, funds held in trust may be invested only in those classes of securities which are approved by the directors of the bank or a committee of directors appointed for that purpose. Where the instrument creating the trust does not specify the character or class of investments to be made and does not expressly vest in the bank, its officers, or its directors a discretion in the matter of investments, funds held in trust shall be invested in any securities in which corporate or individual fiduciaries in the State in which the bank is located ms,y lawfully invest. (6) Court trusts.—Except as hereinafter provided, a national bank acting as executor, administrator, or in any other fiduciary capacity, under appointment by a court of competent jurisdiction, shall make all investments under an order of that court, and copies of all such orders shall be filed and preserved with the records of the trust department of the bank. If the court by general order vests a discretion in the national bank to invest funds held in trust, or if under the laws of the State in which the bank is located corporate fiduciaries appointed by the court are permitted to exercise such discretion, the national bank so appointed may invest such funds in any securities in which corporate or individual fiduciaries in the State in which the bank is located may lawfully invest. SECTION X. COMPENSATION OF BANK A national bank acting in a fiduciary capacity is entitled to receive for its services such fee or compensation as may be allowed by State law or provided for in the will, deed, court order, or other instrument creating the trust. If the amount of such fee or compensation is not regulated by State law or stipulated or provided for in the instrument creating the trust, the national bank may charge or deduct not more than a reasonable fee or compensation. Where the bank is acting in a fiduciary capacity under appointment by a court, it may receive such fee or compensation as shall be allowed or approved by that court. After the deduction of a proper fee or compensation, determined in the manner prescribed above, all income derived from the investment of the funds of a trust shall be paid over to, or credited to the account of, such trust. SECTION XI. BOOKS AND ACCOUNTS All books and records of the trust department shall be kept separate and distinct from other books and records of the bank. All accounts opened shall be so kept as to enable the national bank at any time to furnish information or reports required by the Federal or State authorities, and such books and records shall be open to the inspection of such authorities. SECTION XII. EXAMINATIONS Examiners appointed by the Comptroller of the Currency or designated by the Federal Reserve Board will be instructed to make thorough and complete examinations of the cash, securities, accounts, and investments of the trust department of the bank at the same time that examination is made of the banking department, and may make such examinations at any other time. 1 The act requires that the bank shall set aside in the trust department "United States bonds or other securities approved by the Federal Reserve Board." This provision of the regulations is intended as a general approval by the Federal Reserve Board of all securities which comply with the requirements thereof and specific approval by the Federal Reserve Board is unnecessary as to such securities. The board will not approve any securities which do not comply with these requirements. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 249 SECTION XIII. INSOLVENCY OR VOLUNTARY LIQUIDATION OF BANK (a) Insolvency.—Whenever a national bank exercising fiduciary powers becomes insolvent and a receiver is appointed therefor by the Comptroller of the Currency, such receiver will, pursuant to the instructions of the Comptroller of the Currency and to the orders of the court or courts of appropriate jurisdiction, proceed to close such trusts and estates as can be closed promptly and transfer to substitute fiduciaries all trusts and estates which can not be closed promptly. (b) Voluntary liquidation.—Whenever a national bank exercising fiduciary powers is placed in voluntary liquidation, the liquidating agent shall, in accordance with the laws of the State in which such national bank is located, proceed at once to liquidate the affairs of the trust department as follows: 1. All voluntary trusts which can be canceled shall be canceled as soon as possible and all assets and papers thereof shall be delivered to the rightful owner or owners. 2. All court trusts and estates under the jurisdiction of a court shall be closed or disposed of as soon as possible in accordance with the orders or instructions of the court having jurisdiction. 3. All other trusts which can be closed promptly shall be closed as soon as possible and final accounting made therefor. 4. All other trusts which can not be closed promptly shall be transferred by appropriate legal proceedings to substitute trustees or other fiduciaries. SECTION XIV. SURRENDER OF TRUST POWERS (a) Procedure.—Any national bank which has been granted the right by the Federal Reserve Board, pursuant to section 11 (k) of the Federal reserve act, to act in any fiduciary capacity or capacities and which desires to surrender such right, shall signify such desire through a resolution adopted by its board of directors. A properly certified copy of such resolution of its board of directors should be filed with the Federal Reserve Agent of the district in which such national bank is located and should be accompanied by (1) a letter stating the reason why, or the purpose for which, such national bank wishes to surrender its right to exercise trust powers, unless such reason or purpose shall have been amply stated in the resolution itself; and (2) the permit or permits previously granted by the Federal Reserve Board to such national bank granting it the right to act in any fiduciary capacity, except that in case any such permit shall have been lost or destroyed an affidavit by any officer of such national bank as to such loss or destruction may be filed in lieu of such lost or destroyed permit. All such documents filed with the Federal Reserve Agent shall be promptly forwarded by him to the Federal Reserve Board with a recommendation as to the action to be taken by the Federal Reserve Board. (b) Examination.—Upon receipt of such documents, the Federal Reserve Board will request the Comptroller of the Currency, upon the occasion of the next regular examination of such national bank, to have the examiner make a special investigation of the trust department of the bank in order to determine whether the bank has actually accepted or undertaken the exercise of any trust, whether under court, private, or other appointment, pursuant to authority granted under section 11 (k) of the Federal reserve act; and if so, whether it appears from the records of the trust department in the case of each trust so accepted or undertaken: (1) That the duties of the bank as fiduciary have been completely performed or that a substitute fiduciary has been appointed in accordance with the State law; (2) That a final account has been filed bj7 the bank, and that such account has been approved by the court or other proper authority where this is required by State law; (3) That all assets and papers belonging to the trust estate have been delivered by the bank to the person or persons entitled to receive them; and (4) That the bank has been discharged or otherwise properly relieved of its duties as fiduciary. In exceptional cases, the Federal Reserve Board may make a special examination or may request the Comptroller of the Currency to make a special examination of such national bank in order to obtain the information above set forth. (c) Certificate of Federal Reserve Board.—If upon receiving a copy of the report of such examination of such national bank the Federal Reserve Board shall be satisfied that such bank has been relieved in accordance with State law of all its duties as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or other Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

250 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD fiduciary, under court, private, or other appointments previously accepted by such bank under a permit granted by the Federal Reserve Board pursuant to the provisions of section 11 (k) of the Federal reserve act, the board may in its discretion issue to such national bank a certificate certifying that such bank is no longer authorized to exercise the powers conferred upon it by such permit of the Federal Reserve Board. Such bank thereupon (1) shall no longer be subject to the provisions of section 11 (k) of the Federal reserve act or the regulations of the Federal Reserve Board made pursuant thereto, (2) shall be entitled to have returned to it any securities which it may have deposited with the State authorities or with the Federal Reserve Agent for the protection of private or court trusts, and (3) shall not exercise thereafter any of the powers granted by section 11 (k) of the Federal reserve act without first applying for and obtaining a new permit from the Federal Reserve Board to exercise such powers. SECTION XV. CONFORMITY WITH STATE LAWS Nothing in these regulations shall be construed to give a national bank exercising the powers permitted under the provisions of section 11 (k) of the Federal reserve act, as amended, any rights or privileges in contravention of the laws of the State in. which the bank is located within the meaning of that act. SECTION XVI. CHANGES IN REGULATIONS These regulations are subject to change by the Federal Reserve Board; provided, howtiver, that no such change shall prejudice any obligation undertaken in good faith under regulations in effect at the time the obligation was assumed. REGULATION G, SERIES OF 1928 (Superseding Regulation M of 1926) KEDISCOUNT OF NOTES SECURED BY ADJUSTED SERVICE CERTIFICATES SECTION I. STATUTORY PROVISIONS Under the terms of the World War adjusted compensation act as amended, loans may lawfully be made to veterans upon their adjusted service certificates only in accordance with the provisions of section 502 thereof. Any national bank, or any bank or trust company incorporated under the Jaws of any State, Territory, possession, or the District of Columbia is authorized, after the expiration of two years after the date of the certificate, to loan to any veteran upon his promissory note secured by his adjusted service certificate any amount not. in excess of the loan value of the certificate, which is stated on the face of the certificate. The law provides that the rate of interest charged upon the loan by the lending bank shall not exceed by more than 2 per cent per annum the rate charged at the date of the loan for the discount of 90-day commercial paper by the Federal reserve bank of the Federal reserve district in which the lending bank is located. Upon the indorsement of any bank, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, and subject to regulations to be prescribed by the Federal Reserve Board, any such note secured by an adjusted service certificate and held by a bank is made eligible for rediscount with the Federal reserve bank of the Federal reserve district in which such bank is located, whether or not the bank offering the note for rediscount is a member of the Federal reserve system and whether or not it acquired the note in the first instance from the veteran or acquired it by transfer upon the indorsement of any other bank; provided that at the time of rediscount such note has a maturity not in excess of nine months, exclusive of days of grace, and complies in all other respects with the provisions of the law, the regulations of the United States Veterans' Bureau, and the regulations of the Federal Reserve Board. SECTION II. DEFINITIONS Within the meaning of this regulation— (a) The term "the act" shall mean the World War adjusted compensation act as amended; (6) The term "director" shall mean the Director of the United States Veterans' Bureau; Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 251 (c) The term "certificate" shall mean an adjusted service certificate issued under the provisions of section 501 of the World War adjusted compensation act as amended; (d) The term "veteran" shall mean any person to whom an adjusted service certificate has been issued by the director under the provisions of the World War adjusted compensation act as amended; (e) The term "bank" shall mean any national bank or any bank or trust company incorporated under the laws of any State, Territory, possession, or the District of Columbia; (/) The term "note" shall mean a promissory note, negotiable in form, secured by an adjusted service certificate, and evidencing a loan made by a bank on the security of such certificate in full compliance with the provisions of the World War adjusted compensation act as amended and the regulations of the United States Veterans' Bureau. SECTION III. ELIGIBILITY In order to be eligible for rediscount at a Federal reserve bank, any such note must— (a) Arise out of a loan made by a bank to a veteran in full compliance with the provisions of the act and of any regulation which the director may prescribe; (6) Be secured by the certificate issued to the maker, which certificate must accompany the note; (c) Be held by the offering bank in its own right at the time it is offered for rediscount; (d) Be negotiable in form and otherwise in the form approved by the director; (e) Have a maturity at the time of rediscount not in excess of nine months, exclusive of days of grace; (/) Evidence a loan the amount of which does not exceed the loan value of the certificate for the year in which such loan was made; (g) Be payable with interest accruing after the date of the note at a rate stated in the face of the note, which rate must not exceed by more than 2 per cent per annum the rate charged at the date of the loan for the discount of 90-day commercial paper by the Federal reserve bank of the Federal reserve district in which the lending bank is located; (h) Bear the indorsement of the bank offering it for rediscount, which indorsement shall be deemed a waiver of demand, notice, and protest by such bank as to its own indorsement exclusively; (i) Be accompanied by the evidence of eligibility required by this regulation and such other evidence of eligibility as may be required by the Federal reserve bank to which it is offered for rediscount; and (j) Comply in all other respects with the requirements of the law and of this regulation. SECTION IV. EVIDENCE OF ELIGIBILITY (a) General.—The Federal reserve bank to which a note is offered for rediscount must be satisfied either by reference to the note itself or otherwise that the loan evidenced by the note, or any sale, discount, or rediscount thereof complies in all respects with the provisions of section 502 of the act and that the note is eligible for rediscount by a Federal reserve bank under the terms of the law and the provisions of this regulation. (b) Affidavit of lending bank.—Any note offered to a Federal reserve bank for rediscount must be accompanied by the affidavit required by section 502 (h) of the act and the regulations of the director, in form approved by the director, made by an officer of the bank which made the loan, before a notary public or other officer designated for the purpose by regulation of the director, stating that— (1) Such bank has not charged or collected, or attempted to charge or collect, directly or indirectly, any fee or other compensation in respect of any loan, made by such bank to any veteran under section 502 of the act, except the interest authorized by such section; (2) The person who obtained the loan evidenced by such note is known s to be the veteran named in the certificate securing such note; (3) Such bank has notified the director that it has made a loan to the veteran named in the certificate, as required by the regulations of the director; and Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

252 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD (4) Such bank has notified the veteran by mail at his last known postoffice address of any sale, discount, or rediscount of such note by such bank, as required by section 502 (b) of the act. (c) Affidavit of other banks.—If such note is offered for rediscount by a bank other than the bank which made the loan thereon, it must also be accompanied by an affidavit of an officer of the offering bank and an affidavit of an officer of each other bank which has sold, discounted, or rediscounted such note, which affidavit shall be in form approved by the director and shall state that the bank of which the affiant is an officer has promptly notified the veteran by mail at his last known post-office address of the sale, discount, or rediscount of such note by such bank, as required by section 502(b) of the act. SECTION V. APPLICATION FOR REDISCOUNT Every application for the rediscount of such notes shall be made on a form approved by the Federal reserve bank to which such note is offered and shall contain a certificate of the offering bank to the effect that, to the best of its knowledge and belief, such note arose out of a loan made in full compliance with the provisions of the act and the regulations of the director and is eligible for rediscount under the provisions of section 502 of the act and of this regulation. SECTION VI. PROPER BANK FOR REDISCOUNT No such npte shall be rediscounted by any Federal reserve bank for any bank not located in its own Federal reserve district, except that such notes may be rediscounted by any Federal reserve bank for any other Federal reserve bank. SECTION VII. RATE OF REDISCOUNT The rate of interest charged by any Federal reserve bank on any such note rediscounted by it shall be the same as that charged by it for the rediscount of 90-day notes drawn for a commercial purpose, except that when such notes are rediscounted for another Federal reserve bank the rate shall be that fixed by the Federal Reserve Board. SECTION VIII. REDISCOUNTS FOR NONMEMBER BANKS No Federal reserve bank shall rediscount such notes for any nonmember bank until such bank has furnished to the Federal reserve bank such information as it may request in order to satisfy itself as to the condition of such bank and the advisability of making the rediscount for it. REGULATION H, SERIES OF 1930 (Superseding Regulation H of 1928) MEMBERSHIP OF STATE BANKS AND TRUST COMPANIES SECTION I. BANKS ELIGIBLE FOR MEMBERSHIP 1. Incorporation.—In order to be eligible for membership in a Federal reserve bank a Si;ate bank or trust company must have been incorporated under a special or general law of the State or district in which it is located. 2. Capital stock.—Under the terms of section 9 of the Federal reserve act as amended, no applying bank can be admitted to membership in a Federal reserve bank unless— (a) It possesses a paid-up, unimpaired capital sufficient to entitle it to become a national banking association in the place where it is situated, under the provisions of the national bank act; or (b) It possesses a paid-up, unimpaired capital of at least 60 per cent of such amount, and, under penalty of loss of membership, complies with the rules £,nd regulations herein prescribed by the Federal Reserve Board fixing the time within whi'ch, and the method by which, the unimpaired capital of such bank shall be increased out of net income to equal the capital required under (a). In order to become a member of the Federal reserve system, therefore, any State bank or trust company must have a minimum paid-up capital stock at the time it becomes a member, as follows: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OP THE FEDERAL RESERVE BOARD 253 Minimum Minimum capital if capital if If located in a city or town with a population- admitted admitted under under clause (a) clause (6) Not exceeding 3,000 inhabitants _ _ $25,000 $15, 000 Exceeding 3,000 but not exceeding 6,000 inhabitants _ __. 50,000 30,000 Exceeding 6,000 but not exceeding 50,000 inhabitants 100,000 60,000 Exceeding 50,000 inhabitants (except as stated below) __ 200, 000 120,000 In an outlying district1 of a city with a population exceeding 50,000 inhabitants; provided State law permits organization of State banks in such location with a capital of $100,000 or less. ___ _. 100,000 60, 000 i The term "outlying district" is construed to mean that portion of a city which is located outside of, and at a considerable distance from, the recognized business and financial center of such city, and includes all suburban districts within the corporate limits of such city. Any bank admitted to membership under clause, (b) must also, as a condition of membership—the violation of which will subject it to expulsion from the Federal reserve system—increase its paid-up and unimpaired capital within five years after the approval of its application by the Federal Reserve Board to the amount required under (a). For the purpose of providing for such increase, every such bank shall set aside each year in a fund exclusively applicable to such capital increase not less than 50 per cent of its net earnings for the preceding year prior to the payment of dividends, and if such net earnings exceed 12 per cent of the paid-up capital of such bank, then all net earnings in excess of 6 per cent of the paid-up capital shall be carried to such fund, until such fund is large enough to provide for the necessary increase in capital. Whenever such fund shall be large enough to provide for the necessary increase in capital, or at such other time as the Federal Reserve Board may require, such fund or as much thereof as may be necessary shall be converted into capital by a stock dividend or used in any other manner permitted by State law to increase the capital of such bank to the amount required under (a): Provided, however, That such bank may be excused in whole or in part from compliance with the terms of this paragraph if it increases its capital through the sale of additional stock: Provided further, That nothing herein contained shall be construed as requiring any such bank to violate any provision of State law, and in any case in which the requirements of this paragraph are inconsistent with the requirements of State law the requirements of this paragraph may be waived and the subject covered by a special condition of membership to be prescribed by the Federal Reserve Board. 3. Branches.—In order to be eligible for membership in a Federal reserve bank, a State bank or trust company must relinquish any branch or branches established by it after February 25, 1927, beyond the corporate limits of the city, town, or village in which the parent bank is situated. SECTION II. APPLICATION FOR MEMBERSHIP Any eligible State bank or trust company may make application on F. R. B. Form 83a, made a part of this regulation, to the Federal Reserve Board for an amount of capital stock in the Federal reserve bank of its district equal to 6 per cent of the paid-up capital stock and surplus of such State bank or trust company. This application must be forwarded direct to the Federal reserve agent of the district in which the applying bank or trust company is located and must be accompanied by Exhibits I, II, and III, referred to on page 1 of the application blank. SECTION III. APPROVAL OP APPLICATION In passing upon an application the Federal Reserve Board will consider especially— (1) The financial condition of the applying bank or trust company and the general character of its management; (2) Whether the corporate powers exercised by the applying bank or trust company are consistent with the purposes of the Federal reserve act; and (3) Whether the laws of the State or district in which the applying bank or trust company is located contain provisions likely to prevent proper compliance with the provisions of the Federal reserve act and the regulations of the Federal Reserve Board made in conformity therewith. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

254 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD If, in the judgment of the Federal Reserve Board, an applying bank or trust company conforms to all the requirements of the Federal reserve act and these regulations, and is otherwise qualified for membership, the board will approve the application subject to such conditions as it may prescribe pursuant to the provisions of the Federal reserve act. When the conditions imposed by the board^ have been accepted by the applying bank or trust company and the applying bank or trust company has made a payment to the Federal reserve bank of its district of one-half of the amount of its subscription, i. e., 3 per cent of the amount of its paid-up capital and surlpus, the appropriate certificate of stpck will be issued by the Federal reserve bank and a certificate of membership will be issued by the Federal Reserve Board. The remaining half of its subscription shall be subject to call when deemed necessary by the Federal Reserve Board. SECTION IV. CONDITIONS OP MEMBERSHIP Pursuant to the authority contained in the first paragraph of section 9 of the Federal ressrve act, which provides that the Federal Reserve Board may permit applying banks to become members of the Federal reserve system "subject to the provisions of this act and to such conditions as it may prescribe pursuant thereto/' the Federal Reserve Board will prescribe the following conditions of membership for each bank or trust company hereafter applying for admission to the Federal reserve system, in addition to such other conditions as the board may consider necessary or advisable in the particular case— (1) Except with the permission of the Federal Reserve Board, such bank or trust company shall not cause or permit any change to be made in the general character of its business or in the scope of the corporate powers exercised by it at the time of admission to membership. (2) Such bank or trust company shall at all times conduct its business and exercise its powers with due regard to the safety of its depositors. (3) Except after applying for and receiving the permission of the Federal Reserve Board, such bank or trust company shall not acquire an interest in any other bank or trust company, through the purchase of stock in such other bank or trust company. (4) Such bank or trust company shall maintain its loans within the limitsprescribed by the laws of the State in which it is located. (5) Such bank or trust company shall reduce to an amount equal to 10 per cent of its capital and surplus all balances in excess thereof, if any, which are carried with banks or trust companies which are not members of the Federal reserve system, and shall at all times maintain such balances within such limits. (6) Such bank or trust company may accept drafts and bills of exchange drawn upon it of any character permitted by the laws of the State of its incorporation; but the aggregate amount of all acceptances outstanding at any one time shall not exceed the limitations imposed by section 13 of the Federal reserve act, that is, the aggregate amount of acceptances outstanding at any one time which are drawn for the purpose of furnishing dollar exchange in countries specified by the Federal Reserve Board shall not exceed 50 per cent of its capital and surplus, and the aggregate amount of all other acceptances, whether domestic or foreign, outstanding at any one time shall not exceed 50 per cent of its capital and surplus* except that the Federal Reserve Board, upon the application of such bank or trust company, may increase this limit from 50 per cent to 100 per cent of its capital and surplus: Provided, however, That in no event shall the aggregate amount of domestic acceptances outstanding at any one time exceed 50 per cent of the capital and surplus of such bank or trust company. (7) The board of directors of said bank or trust company shall adopt a resolution authorizing the interchange of reports and information between the Federal reserve bank of the district in which such bank or trust company is located and the banking authorities of the State in which such bank is located. SECTION V. ESTABLISHMENT OR MAINTENANCE OF BRANCHES Every State bank which is, or hereafter becomes, a member of the Federal reserve system will be required to comply strictly with the following provision of section 9 of the Federal reserve act as amended by the act of February 25, 1927: Any such State bank which, at the date of the approval of this act, has established and is operating a branch or branches in conformity with the State law, may retain and operate the same while remaining or upon becoming a stockholder of such Federal reserve bank; but no such State bank may retain or acquire stock in a Federal reserve bank except upon relinquishment of any branch or branches established after the date of the approval of this act beyond the limits of the city, town, or village in which the parent bank is Digitized fosri tFuaRteAdS.ER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 255 This has been interpreted to mean that— 1. Any State member bank which, on February 25, 1927, had established and WSLS actually operating a branch or branches in conformity with the State law is permitted to retain and operate the same while remaining a member of the Federal reserve system, regardless of the location of such branch or branches. 2. Any nonmember State bank which, on February 25, 1927, had established and was actually operating a branch or branches in conformity with State law may, if otherwise eligible, become a member of the Federal reserve system and retain and operate such branches, regardless of their location. 3. In order to remain a member of the Federal reserve system, every State member bank must relinquish any branch or branches established after February 25, 1927, beyond the corporate limits of the city, town, or village in which the parent bank is situated. 4. Any State member bank which establishes any branch or branches after February 25, 1927, beyond the corporate limits of the city, town, or village in which the parent bank is situated must either (a) relinquish such branch or branches or (6) forfeit all rights and privileges of membership and surrender its stock in the Federal reserve bank. 5. No State bank which has established any branches subsequent to February 25, 1927, beyond the corporate limits of the city, town, or village in which the parent bank is situated may become a member of the Federal reserve system except upon relinquishment of every such branch. 6. State member banks may establish branches within the corporate limits of the city, town, or village in which the parent bank is situated without obtaining permission of the Federal Reserve Board. SECTION VI. POWERS AND RESTRICTIONS Every State bank or trust company while a member of the Federal reserve system— (1) Shall retain its full charter and statutory rights as a State bank or trust company, subject to the provisions of the Federal reserve act, to the regulations of the Federal Reserve Board, and to the conditions prescribed by the Federal Reserve Board and agreed to by such State bank or trust company prior to its admission; (2) Shall enjoy all the privileges and observe all those requirements of the Federal reserve act and of the regulations of the Federal Reserve Board made in conformity therewith which are applicable to State banks and trust companies which have become member banks; and (3) Shall comply at all times with any and all conditions of membership prescribed by the Federal Reserve Board at the time of the admission of such member bank to the Federal reserve system. SECTION VII. EXAMINATIONS AND REPORTS Every State bank or trust company, while a member of the Federal reserve system, shall be subject to examinations made by direction of the Federal Reserve Board or of the Federal reserve bank by examiners selected or approved by the Federal Reserve Board. In order to avoid duplication, examinations of State banks and trust companies made by State authorities will be accepted in lieu of examinations by examiners selected or approved by the board wherever these are satisfactory to the directors of the Federal reserve bank, and examiners from the staff of the board or of the Federal reserve banks will, whenever desirable, be designated by the board to act with the examination staff of the State in order that uniformity in the standard of examination may be assured. Every State bank or trust company, while a member of the Federal reserve system, shall be required to make in each year not less than three reports of condition on F. R. B. Form 105. Such reports shall be made to the Federal reserve bank of its district on call of such bank, on dates to be fixed by the Federal Reserve Board. They shall also make semiannual reports of earnings and dividends on F. R. B. Form 107. F. R. B. Forms 105 and 107 are made a part of this regulation. SECTION VIII. VOLUNTARY WITHDRAWAL FROM FEDERAL RESERVE SYSTEM 1. General.—Any State bank or trust company desiring to withdraw from membership in a Federal reserve bank may do so after six months' written notice lias been filed with the Federal Reserve Board; and the Federal Reserve Board, in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

256 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD its discretion and subject to such conditions as it may prescribe, may waive such six months' notice in individual cases and may permit such bank or trust company to withdraw from membership in a Federal reserve bank prior to the expiration of six months from the date of the written notice of its intention to withdraw. The law provides, however, that no Federal reserve bank shall, except upon express authority of the Federal Reserve Board, cancel within the same calendar year more than 25 per cent of its capital stock for the purpose of effecting voluntary withdrawals during that year. All applications for voluntary withdrawals are required by law to be dealt with in the order in which they are filed with the board. 2. Resolution of board of directors.—Every notice of intention of a State bank or trust company to withdraw from membership in the Federal reserve system and every application for the waiver of such notice should be accompanied by a certified copy of a resolution duly adopted by the board of directors of such bank authorizing the withdrawal of such bank from membership in the Federal reserve system and authorizing a certain officer or certain officers of such bank to file such notice or application, to surrender for cancellation the Federal reserve bank stock held by such bank, to receive and receipt for any moneys or other property due to such bank from the Federal reserve bank and to do such other things as may be necessary to effect the withdrawal of such bank from membership in the Federal reserve system. 3. Notice of intention to withdraw.—Any State bank or trust company desiring to withdraw from membership in a Federal reserve bank after six months' written notice should signify its intention to do so in a letter addressed to the Federal Reserve Board and mailed to the Federal reserve agent at the Federal reserve bank of which such State bank or trust company is a member. Such letter should state clearly the reason for the bank's desire to withdraw from membership, and should inclose a certified copy of the resolution of the board of directors of such bank required by subsection 2 hereof. The Federal reserve agent shall immediately forward such notice to the Federal Reserve Board; and the bank giving notice will be permitted to withdraw from membership by surrendering its stock in the Federal reserve bank for cancellation six months after the date on which such notice was received by the Federal reserve agent, unless other such notices previously received during the same year would result in the cancellation of more than 25 per cent of the capital stock of such Federal reserve bank during that calendar year. 4. Application for waiver of notice.—Any State bank or trust company desiring to withdraw from membership in a Federal reserve bank without awaiting the expiration of six months from the date of its written notice of intention to do so shall address a letter to the Federal Reserve Board applying for permission to withdraw from membership prior to the expiration of six months and requesting the Federal Reserve Board to waive the six months' notice usually required. Such letter shall be accompanied by the certified copy of a resolution of the board of directors of such bank required by subsection 2 hereof, and shall be forwarded to the Federal reserve agent at the Federal reserve bank of which the applying bank is a member. The Federal reserve agent shall forward such application to the Federal Reserve Board with a definite recommendation that the application be approved or disapproved and with a full statement of his reasons for such recommendation. Unless there are exceptional circumstances justifying it, the Federal Reserve Board will not be disposed to waive such notice; and no such application will be approved by the Federal Reserve Board if the banks owning more than 10 per cent of the capital stock of such Federal reserve bank have previously filed notice of their intention to withdraw from membership during the same calendar year. 5. Time and method of effecting actual withdrawal.—A bank's withdrawal from membership in the Federal reserve system is effective on the date on which the Federal reserve bank stock held by it is duly canceled. Until such stock has been eancelad, such bank remains a member of the Federal reserve system, is entitled to all the privileges of membership, and is required to comply with all provisions of law and all regulations of the Federal Reserve Board pertaining to member banks and with all conditions of membership applicable to it. Upon the cancellation of such stock all rights and privileges of such State bank or trust company as a member bank cease and determine. Upon the expiration of six months after notice of intention to withdraw from membership was received by the Federal reserve agent, or upon the waiving of such six months' notice by the Federal Reserve Board, therefore, such bank or trust company should surrender its stock and its certificate of membership to the Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KEGULATIONS OF THE FEDERAL RESERVE BOARD 257 Federal reserve bank and request that same be canceled and that all amounts due to it from the Federal reserve bank be refunded. Unless this is done within two months after the expiration of such six months' notice or after the waiver of such notice by the Federal Reserve Board, or unless the bank requests and the board grants, an extension of time before the expiration of such two months, such bank will be presumed to have abandoned its intention of withdrawing from membership and will not be permitted to withdraw without again giving six months' written notice or obtaining the waiver of such notice. Upon the cancellation of such stock and, after due provision has been made for any indebtedness due or to become due to the Federal reserve bank, such bank shall be entitled to a refund of its cash paid subscription with interest at the rate of one-half of 1 per cent per month from the date of last dividend, if earned, the amount refunded in no event to exceed the book value of the stock at that time, and shall likewise be entitled to the repayment of deposits and of any other balance due from the Federal reserve bank. 6. Withdrawal of notice.—Any bank or trust company which has given notice of its intention to withdraw from membership in a Federal reserve bank may withdraw such notice at any time before its stock has been canceled and upon doing so may remain a member of the Federal reserve system. REGULATION I, SERIES OF 1930 (Superseding Regulation I of 1928) INCREASE OR DECREASE OF CAPITAL STOCK OF FEDERAL RESERVE BANKS AND CANCELLATION OF OLD AND ISSUE OF NEW STOCK CERTIFICATES SECTION I. INCREASE OF CAPITAL STOCK (a) New national banks.—Each new national bank, while in process of organization (including each nonmember State bank converting into a national bank,1 while in process of such conversion) shall file with the Federal reserve bank of its district an application to the Federal Reserve Board on F. R. B. Form 30 (or as to a nonmember State bank converting into a national bank, on F. R. B. Form 30a), made a part of this regulation, for an amount of capital stock of the Federal reserve bank of its district equal to 6 per cent of the paid-up capital stock and surplus of such new national bank. Such application shall be forwarded promptly to the Federal Reserve Board, and if it is found to be in proper form the Federal Reserve Board will grant its approval effective if and when the Comptroller of the Currency issues to such bank his certificate of authority to commence business. If its application is approved, the applying bank shall thereupon make a payment to the Federal reserve bank of its district of one-half of the amount of its subscription, i. e., 3 per cent of the amouxit of its paid-up capital and surplus; and upon receipt of this payment the Federal reserve bank will issue a receipt therefor, place the amount in a suspense account, and notify the Federal Reserve Board that it has been received. When the Comptroller of the Currency issues to such applying bank his certificate of authority to commence business the Federal reserve bank shall issue a stock certificate to the applying bank, and the capital stock of the Federal reserve bank represented by such certificate shall be considered as issued as of the date upon which the Comptroller of the Currency issues his certificate of authority to commence business. The remaining half of the subscription of the applying bank shall be subject to call when deemed necessary by the Federal Reserve Board. (b) State banks becoming members.—Any State bank or trust company desiring to become a member of the Federal reserve system shall make application as provided in Regulation H, and when such application has been approved by i Whenever any State member bank is converted into a national bank under sec. 5154 of the Revised Statutes, as amended by sec. 8 of the Federal reserve act, it may continue to hold as a national bank its shares of Federal reserve bank stock previously held as a State bank, and need not file any application for Federal reserve bank stock, unless the aggregate amount of its capital and surplus is increased, in which event it should file an application for additional stock, as provided in Section I (c). The certificate of stock issued in the old name of the member bank, however, should be surrendered and canceled, and a new certificate should be issued in lieu thereof, in the new name of the member bank, as provided in Section III. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

258 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD the Federal Reserve Board and all requirements of Regulation H have been complied with the Federal reserve bank shall issue an appropriate certificate of stock as provided in Regulation H. (c) Increase of capital or surplus by member banks.—Whenever any member bank shall increase the aggregate amount of its paid-up capital stock and surplus, it shall file with the Federal reserve bank of which it is a member an application on F. R. B. Form 56, made a part of this regulation, for such additional amount of the capital stock of the Federal reserve bank of its district as may be necessary to make its total subscription to stock of the Federal reserve bank equal to 6 per cent of its combined capital and surplus. After such application has been approved by the Federal reserve agent and by the Federal Reserve Board, the applying member bank shall pay to the Federal reserve bank of its district onehalf of the amount of its additional subscription, and when this amount has been paid the appropriate certificate of stock shall be issued h>y the Federal reserve bank. The remaining half of such additional subscription shall be subject to call when deemed necessary by the Federal Reserve Board. (d) Consolidation of member banks.—Whenever two or more member banks consolidate and such consolidation results in the consolidated bank acquiring by operation of law 2 the Federal reserve bank stock owned by the other consolidating bank or banks, and which also results in the consolidated bank having an aggregate capital and surplus in excess of the aggregate capital and surplus of the consolidating member banks, such consolidated bank shall file an application for such additional amount of the capital stock of the Federal reserve bank of its district as may be necessary to make its total subscription to the stock of the Federal reserve bank equal to 6 per cent of its combined capital and surplus, as provided in Section I (c). (e) Certifying increases of Federal reserve bank stock.—Whenever the capital stock of any Federal reserve bank shall be increased the board of directors of such Federal reserve bank shall certify such increase to the Comptroller of the Currer.cy on F. R. B. Form 58, which is made a part of this regulation. Such certifications shall be made as of the last days of June and December of each year. A duplicate copy of each certificate shall be forwarded to the Federal Reserve Board. SECTION II. DECREASE OF CAPITAL STOCK (a) Reduction of capital or surplus by member bank.—Whenever a member bank reduces the amount of its paid-up capital stock and, in the case of reduction of the paid-up capital of a national bank, such reduction has been approved by the Comptroller of the Currency and by the Federal Reserve Board in accordance with the provisions, of section 28 of the Federal reserve apt, it shall file with the Federal reserve bank of which it is a member an application for the surrender and cancellation of stock on F. R. B. Form 60, which is made a part of this regulation. When a member bank reduces the amount of its surplus, it is not required to, but may at its option, file with the Federal reserve bank of which it is a member an application for the surrender and cancellation of stock on said F. R. B. Form 60. Wnen an application so filed as the result of a reduction in a member bank's paid-up capital stock or surplus has been approved by the Federal reserve agent and the Federal Reserve Board, the Federal reserve bank shall accept and cancel the stock which the applying bank is entitled to surrender and shall refund to the member bank the proportionate amount due such bank on account of the stock canceled. (b) Insolvency of member bank.—Whenever a member bank shall be declared insolvent and a receiver appointed by the proper authorities, such 2 Sec. 5 of the Federal reserve act provides that "Shares of the capital stock of Federal reserve banks owned by member banks shall not be transferred or hypothecated." This provision prevents a transfer of Federal reserve bank stock by purchase, but does not prevent a transfer by operation of law. When there is a merger of member banks involving the liquidation of one of such banks and the purchasing of the assets of the liquidating bank by the bank continuing in existence, it is necessary for the liquidating bank to surrender its Federal reserve bank stock and for the purchasing bank to apply for new stock. On the other hand, if member banks consolidate, under a statute which does not require the liquidation of any of the cor solidating banks, and the assets and obligations of the consolidating banks are transferred to the consolidated bank by operation of law, the consolidated bank becomes the owner of the Federal reserve bank ;jtock of the consolidating banks as soon as the consolidation takes effect and such stock technically need not be surrendered. The certificates of stock issued in the names of the consolidating banks, however, should be surrendered and canceled, and a new certificate should be issued in lieu thereof, in the new name of the consolidated bank, as provided in Sec. III. A consolidation of national banks under the act of Congress entitled "An act to provide for the consolidation of national banking associations," approved Nov. 7, 1918, meets all of these conditions. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

[REGULATIONS OF THE FEDERAL RESERVE BOARD 259 receiver shall, within six months from the date of his appointment, file with the Federal reserve bank of which the insolvent bank is a member an application on F. R. B. Form 87, which is made a part of this regulation, for the surrender and cancellation of the stock held by such insolvent member bank, and for the refund of all balances due to it. If the receiver shall fail to make such application within the time specified, the Federal reserve agent shall report the facts to the Federal Reserve Board with a recommendation as to the action to be taken, whereupon the Federal Reserve Board will either issue an prder to cancel such stock or, if the circumstances warrant it, grant the receiver additional time in which to file such an application. Upon approval of such an application by the Federal reserve agent and the Federal Reserve Board, or upon the issuance of such an order by the Federal Reserve Board, the Federal reserve bank shall cancel such stock and shall adjust accounts between the member bank and the Federal reserve bank by applying to any indebtedness of the insolvent member bank to such Federal reserve bank all cash-paid subscriptions made by it on the stock canceled with one-half of 1 per cent per month from the period of last dividend, not to exceed the book value thereof, and the balance, if any, shall be paid to the duly authorized receiver of such insolvent member bank. (c) Voluntary liquidation of member bank.—Whenever a member bank goes into voluntary liquidation, the liquidating agent or some other person duly authorized by the stockholders or board of directors to act on behalf of such bank shall, within six months from the date of the vote to place such bank in voluntary liquidation, file with the Federal reserve bank of which the liquidating bank is a member an application on F. R. B. Form 86, if a national bank, and on F. R. B. Form 143, if a State bank, which forms are made a part of this regulation, for the surrender and cancellation of the stock held by it and for the refund of all balances due to such liquidating member bank. If such application is not filed within the time specified, the Federal reserve agent shall report the facts to the Federal Reserve Board with a recommendation as to the action to be taken, whereupon the Federal Reserve Board will either issue an order to cancel such stock, or, if the circumstances warrant it, grant additional time in which to file such an application. Upon approval of such an application by the Federal reserve agent and the Federal Reserve Board, or upon the issuance of such an order by the Federal Reserve Board, the Federal reserve bank shall cancel such stock and shall adjust accounts between the liquidating member bank and the Federal reserve bank by applying to the indebtedness of the liquidating member bank to such Federal reserve bank all cash-paid subscriptions made by it on the stock canceled with one-half of 1 per cent per month from the period of last dividend, not to exceed the book value thereof, and the balance, if any, shall be paid to the duly authorized liquidating agent of such liquidating member bank. (d) Other closed member banks.—Whenever a national bank which has not gone into liquidation as provided in section 5220 of the Revised Statutes of the United States and for which a receiver has not been appointed for other lawful cause shall discontinue its banking operations for a period of 60 days, the Federal reserve agent of the Federal reserve district in which such national bank is located shall furnish the Federal Reserve Board with full information with reference to the facts involved in the case and with a definite recommendation as to whether the Comptroller of the Currency should appoint a receiver for the national bank. Upon receipt of this advice the Federal Reserve Board will, if the circumstances warrant it, request the Comptroller of the Currency to appoint a receiver for the national bank. If such receiver is appointed, the Federal reserve bank stock held by the national bank should be surrendered and canceled in the manner described in subdivision (6) of this section. Whenever a State member bank shall cease to exercise banking functions without being placed in liquidation in accordance with the laws of the State in which it is located and without a receiver having been appointed for it, the Federal reserve agent of the Federal reserve district in which such State member bank is located shall furnish the Federal Reserve Board with full information with reference to the facts involved in the case and with a definite recommendation as to whether the Federal Reserve Board should require the State member bank to surrender its stock in the Federal reserve bank and to forfeit all rights and privileges of membership in the Federal reserve system. Upon receipt of this advice the Federal Reserve Board will, if termination of the membership of the State member bank appears desirable, give the member bank notice of the date upon which a hearing will be held to determine whether its membership should be forfeited. If, after such hearing, the membership of a State member bank is Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

260 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD forfeited the board will direct the Federal reserve agent of the Federal reserve district in which the member bank is located to cancel the Federal reserve bank stock it holds and make appropriate refund thereon. (e) Consolidation of member banks.—Whenever there is a consolidation of two or more member banks which results in the consolidated bank acquiring by operation of law (see note 2 on p. 258) the Federal reserve bank stock owned by the other consolidating banks, and which also results in the consolidated bank having a paid-up capital less than the aggregate paid-up capital of the consolidating member banks, the consolidated bank shall file with the Federal reserve bank of which it is a member an application for the surrender and cancellation of stock on F. R. B. Form 60a, which is made a part of this regulation. Upon the approval of this application by the Federal reserve agent and the Federal Reserve Board, the Federal reserve bank shall accept and cancel the stock which the applying bank is entitled to surrender, and shall refund to the applying bank the proportionate amount due such bank on account of the stock canceled. (/) Certifying reductions of Federal reserve bank stock.—All reductions of the capital stock of a Federal reserve bank shall, in accordance with the provisions of section 6 cf the Federal reserve act, be certified to the Comptroller of the Currency by the board of directors of such Federal reserve bank on F. R. B. Form 59, which is made a part of this regulation. Such certifications shall be made as of the last days of June and December of each year. A duplicate copy of each certificate shall be fcrwarded to the Federal Reserve Board. SECTION III. CANCELLATION OF OLD AND ISSUE OF NEW STOCK CERTIFICATES Whenever a member bank changes its name or, by consolidation with another member bank, acquires by operation of law (see note 2 on p. 258) the Federal reserve bank stock previously held by such other member bank, it shall surrender to the Federal reserve bank the certificate of Federal reserve bank stock which was issued to it under its old name, or which was issued to such other member bank. The certif cate so surrendered shall be indorsed by the member bank surrendering it or by the member bank to which it was originally issued and shall be accompanied by proper proof of the change of name or consolidation. Upon receipt of such certiiicate of stock so indorsed, together with such proof, the Federal reserve bank shall cancel the certificate so surrendered and shall issue in Jieu thereof to and in th3 name of the member bank surrendering it a new certificate for the number oir shares represented by the certificate so surrendered, or if the member bank is entitled to surrender some of the stock which is represented bv the surrendered certificate, and an application for the surrender and cancellation of such stock is at the same time made in accordance with this regulation, the new certificate shall be for the number of shares represented by the surrendered certificate less the number of shares canceled pursuant to such application. All cases where certificates of stock are surrendered and new certificates issued in lieu thereof and in a different name shall be reported to the Federal Reserve Board by the Federal reserve agent. REGULATION J, SERIES OF 1930 (Superseding Regulation J of 1929) CHECK CLEARING AND COLLECTION SECTION I. STATUTORY PROVISIONS Section 16 of the Federal reserve act authorizes the Federal Reserve Board to require each Federal reserve bank to exercise the function of a clearing house foi its member banks, and section 13 of the Federal reserve act, as amended by the act approved June 21, 1917, authorizes each Federal reserve bank to receive from any nonmember bank or trust company, solely for the purposes of exchange or of collection, deposits of current funds in lawful money, national-bank notes, Federal reserve notes, checks and drafts payable upon presentation, or maturing notes and bills, provided such nonmember bank or trust company maintains with its Federal reserve bank a balance sufficient to offset the items in transit held for its account by the Federal reserve bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KEGULATIONS OF THE FEDERAL RESERVE BOARD 261 SECTION II. GENERAL REQUIREMENTS In pursuance of the authority vested in it under these provisions of law, the Federal Reserve Board, desiring to afford both to the public and to the various banks of the country a direct, expeditious, and economical system of check collection and settlement of balances, has arranged to have each Federal reserve bank exercise the functions of a clearing house and collect checks for such of its member banks as desire to avail themselves of its privileges and for such nonmember State banks and trust companies as may maintain with the Federal reserve bank balances sufficient to qualify them under the provisions of section 13 to send items to Federal reserve banks for purposes of exchange or of collection. Such nonmember State banks and trust companies will hereinafter be referred to as nonmember clearing banks. Each Federal reserve bank shall exercise the functions of a clearing house and collect checks under the general terms and conditions hereinafter set forth, and each member bank and nonmember clearing bank shall cooperate fully in the system of check clearance and collection for which provision is herein made. SECTION III. CHECKS RECEIVED FOR COLLECTION (1) Each Federal reserve bank will receive at par from its member banks and from nonmember clearing banks in its district, checks 1 drawn on all member and nonmember clearing banks, and checks drawn on all other nonmember banks which are collectible at par in funds acceptable to the collecting Federal reserve bank. (2) Each Federal reserve bank will receive at par from other Federal reserve banks, and from all member and nonmember clearing banks in other Federal reserve districts which are authorized to route direct for the credit of their respective Federal reserve banks, checks drawn on all member and nonmember clearing banks of its district, and checks drawn on all other nonmember banks of its district which are collectible at par in funds acceptable to the collecting Federal reserve bank. (3) No Federal reserve bank shall receive on deposit or for collection any check drawn on any nonmember bank which can not be collected at par in funds acceptable to the collecting Federal reserve bank. SECTION IV. TIME SCHEDULE AND AVAILABILITY IF CREDITS (1) Each Federal reserve bank will publish a time schedule showing the time at whichjany item sent to it will be counted as reserve and become available for withdrawal or other use by the sending bank. For all checks received, the sending bank will be given immediate credit, or deferred credit, in accordance with such time schedule, and as provided below. (2) For all such checks as are received for immediate credit in accordance with such time schedule, immediate credit, subject to final payment, will be given upon the books of the Federal reserve bank at full face value in the reserve account or clearing account upon day of receipt, and the proceeds will at once be counted as reserve and become available for withdrawal or other use by the sending bank, provided, however, that the Federal reserve bank may in its discretion refuse at any time to permit the withdrawal or other use of credit given for any item for which the Federal reserve bank has not yet received payment in actually and finally collected funds. (3) For all such checks as are received for deferred credit in accordance with such time schedule, deferred credit, subject to final payment, will be entered upon the books of the Federal reserve bank at full face value, but the proceeds will not be counted as reserve nor become available for withdrawal or other use by the sending bank until such time as may be specified in such time schedule,2 at which time credit will be transferred from the deferred account to the reserve account or clearing account subject to final payment and will then be counted as reserve and become available for withdrawal or other use by the sending bank, provided, 1 A check is generally defined as a draft or order upon a bank or banking house, purporting to be drawn upon a deposit of funds, for the payment at all events of a certain sum of money to the order of a certain person therein named, or to him or his order, or to bearer, and payable on demand. 2 For rules for computation of reserves and penalties for deficiencies in reserves, see Regulation D, Sees. Ill and IV. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

262 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD however, that the Federal reserve bank may in its discretion refuse at any time to permit the withdrawal or other use of credit given for any item for which the Federal reserve bank has not yet received payment in actually and finally collected funds. SECTION V. TERMS OF COLLECTION The Federal Reserve Board hereby authorizes the Federal reserve banks to handle such checks subject to the following terms and conditions; and each member and nonmember clearing bank which sends checks to any Federal reserve bank for deposit or collection shall by such action be deemed (a) to authorize the Federal reserve banks to handle such checks subject to the following terms and conditions, (b) to warrant its own authority to give the Federal reserve banks such authority, and (c) to agree to indemnify any Federal reserve bank for any loss resulting from the failure of such sending bank to have such authority. (1) A Federal reserve bank will act only as agent of the bank from which it receives such checks and will assume no liability except for its own negligence and its guaranty of prior indorsements. (2) A Federal reserve bank may present suph checks for payment or send such checks for collection direct to the bank on which they are drawn or at which they are payable, or in its discretion may forward them to another agent with authority to present them for payment or send them for collection direct to the bank on which they are drawn or at which they are payable. (3) A Federal reserve bank may, in its discretion and at its option, either directly or through or from an agent, accept in payment of or in remittance for such checks, cash, bank drafts, transfers of funds or bank credits, or other forms of payment or remittance, acceptable to the collecting Federal reserve bank. The Federal reserve bank shall not be liable for the failure of the drawee bank or any agent to pay or remit for such checks, nor for any lpss resulting from the acceptance from the drawee bank or any collecting agent, in lieu of cash, of any other form of payment or remittance authorized herein, nor for the nonpayment of, or failure to realize upon, any bank draft or other medium of payment or remittance which may be accepted from the drawee bank or any collecting agent. (4) Checks received by a Federal reserve bank which are payable in its own district will ordinarily be forwarded or presented direct to the banks on which they are drs.wn, and such banks will be required to remit or pay therefor at par in such one or more of the forms of payment or remittance authorized under paragraph (3) hereof as may be acceptable to the Federal reserve bank. (5) Checks received by a Federal reserve bank payable in other districts will ordinarily be forwarded for collection to the Federal reserve bank of the district in which such checks are payable; provided, however, that, where arrangements can be made satisfactory to the collecting bank or agent and to the Federal reserve bank of the district in which such checks are payable, any such checks may be forwarded for collection direct to the bank on which they are drawn or at which they are payable, or may be forwarded for collection to another agent with authority to present them for payment direct to the bank on which they are drawn or at which they are payable. All such checks shall be handled subject to all the terms and conditions of this regulation. (6) Bank drafts received by a Federal reserve bank in payment of or in remittance for checks handled under the terms of this regulation shall likewise be handled for collection subject to all the terms and conditions of this regulation. (7) The amount of any check for which payment in actually and finally collected funds is not received shall be charged back to the forwarding bank, regardless of whether or not the check itself can be returned. In such event, neither the owner or holder of any such check, nor the bank which sent such check to the Federal reserve bank for collection shall have any right of recourse upon, interest in, or right of payment from, any reserve balance, clearing account, deposit account, or other such fund of the drawee bank or of any bank to which such checks have been sent for collection, in the possession of the Federal reserve bank. No draft, authorization to charge, or other order, upon any reserve balance, clearing account, deposit account, or other such funds of a paying, remitting, or collecting bank in the possession of a Federal reserve bank, issued for the purpose of settling items handled under the terms of this regulation will be paid, acted upon, or honored after receipt by such Federal reserve bank of notice of suspension or closing of such paying, remitting, or collecting bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 263 SECTION VI. OTHER RULES AND REGULATIONS Each Federal reserve bank shall also promulgate rules and regulations not inconsistent with the terms of the law or of this regulation, governing the details of its check clearing and collection operations. Such rules and regulations shall be set forth by the Federal reserve banks in their letters of instruction to their member and nonmember clearing banks and shall be binding upon any member or nonmember clearing bank which sends any check to such Federal reserve bank for collection or to any other Federal reserve bank for the account of such Federal reserve bank for collection. REGULATION K, SERIES OF 1930 (Superseding Regulation K of 1928) BANKING CORPORATIONS AUTHORIZED TO DO FOREIGN BANKING BUSINESS UNDER THE TERMS OF SECTION 25 (a) OF THE FED- ERAL RESERVE ACT SECTION I. ORGANIZATION Any number of natural persons, not less in any case than five, may form a Corporation * under the provisions of section 25 (a) for the purpose of engaging in international or foreign banking or other international or foreign financial operations or in banking or other financial operations in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries or in such dependencies or insular possessions. SECTION II. ARTICLES OF ASSOCIATION Any persons desiring to organize a corporation for any of the purposes defined in section 25 (a) shall enter into articles of association (see F. R. B. Form 151, which is suggested as a satisfactory form of articles of association) which shall specify in general terms the objects for which the Corporation is formed, and may contain any other provisions not inconsistent with law which the Corporation may see fit to adopt for the regulation of its business and the conduct of its affairs. The articles of association shall be signed by each person intending to participate in the organization of the Corporation and when signed shall be forwarded to the Federal Reserve Board in whose office they shall be filed. SECTION III. ORGANIZATION CERTIFICATE All of the persons signing the articles of association shall under their handsmake an organization certificate on F. R. B. Form 152, which is made a part of this regulation, and which shall state specifically: First. The name assumed by the Corporation. Second. The place or places where its operations are to be carried on. Third. The place in the United States where its home office is to be located. Fourth. The amount of its capital stock and the number of shares into which it shall be divided. Fifth. The names and places of business or residences of persons executing the organization certificate and the number of shares to which each has subscribed. Sixth. The fact that the certificate is made to enable the persons subscribing the same and all other persons, firms, companies, and corporations who or which may thereafter subscribe to or purchase shares of the capital stock of such Corporation to avail themselves of the advantages of this section. The persons signing the organization certificate shall acknowledge the execution thereof before a judge of some court of record or notary public who shall certify thereto under the seal of such court or notary. Thereafter the certificate shall be forwarded to the Federal Reserve Board to be filed in its office. 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 1 Whenever these regulations refer to a corporation spelled with a capital^C, they relate to a corporation organized under section 25 (a) of the Federal reserve act. 33454—31 18 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

264 ANNUAL BEPORT OF THE FEDERAL RESERVE BOARD 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. 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. The title of every such Corporation shall include the word "foreign" or the word "international/' and no such Corporation will be permitted to have the word "bank" as part of its title: Provided, however, That with the permission of the Federal Reserve Board, which may be granted or withheld in the board's discretion, any corporation which is closely affiliated with one or more banks and which is organized or operated for the purpose of transacting the foreign banking buisness of such bank or banks may include the work "bank" in its corporate title and need not include the word "foreign" or the word "international." SECTION V. AUTHORITY TO COMMENCE BUSINESS After the articles of association and organization certificate have been made and filed with the Federal Reserve Board, and after they have been approved by the Federal Reserve Board and a preliminary permit to begin business has been issued by the Federal Reserve Board, the association shall become and be a body corporate, but none of its powers except such as are incidental and preliminary to its organization shall be exercised until it has been formally authorized by the Federal Reserve Board by a final permit generally to commence business. Before the Federal Reserve Board will issue its final permit to commence business, the president or cashier, together with at least three of the directors, must certify (a) that each director elected is a citizen of the United States; (b) that a majority of the shares of stock is owned by citizens of the United States, by corporation!? the controlling interest in which is owned by citizens of the United States, chartered under the laws of the United States, or by firms or companies the controlling interest in which is owned by citizens of the United States; and (c) that of i;he authorized capital stock specified in the articles of association at least 25 per cent has been paid in in cash and that each shareholder has individually paid in in cash at least 25 per cent of his stock subscription. Thereafter the cashier £;hall certify to the payment of the remaining installments as and when each is paid in, in accordance with law. SECTION VI. CAPITAL STOCK No Corporation may be organized under the terms of section 25(a) with a capital stock of less than $2,000,000. The par value of each share of stock shall be specified in the articles of association, and no Corporation will be permitted to issue stock of no par value. If there is more than one class of stock, the name and amount of each class and the obligations, rights, and privileges attaching thereto shall be set forth fully in the articles of association. Each class of stock shall be so named as to indicate to the investor as nearly as possible what is its character and to put him on notice of any unusual attributes. SECTION VII. TRANSFERS OF STOCK Section 2,5 (a) provides in part that— A majority oi the shares of the capital stock of any such corporation shall at all times be held and owned by the citizens af the United States, by corporations the controlling interest in which is owned by citizens of the United States, chartered under the laws of the United States or of a State of the United States, or by firms or companies the controlling interest in which is owned by citizens of the United States. In order to insure compliance at all times with the requirements of this provision after the organization of the Corporation, shares of stock shall be issuable and transferable only on the books of the Corporation. Every application for the issue or transfer of stock shall be accompanied by an affidavit of the party to whom it is desired to issue or transfer stock, or by his or its duly authorized agent, statmg— In the ca.se of an individual.—(a) Whether he is or is not a citizen of the United States and, if a citizen of the United States, whether he is a natural-born citizen or a citizen by naturalization, and if naturalized, whether he remains for any purpose in the allegiance of any foreign sovereign or State; (b) whether there is or is not any arrangement under which he is to hold the shares or any of the shares which he desires to have isssued or transferred to him, in trust for or in Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

KEGULATIONS OF THE FEDERAL RESERVE BOARD 265 any way under the control of any foreign State or any foreigner, foreign corporation, or any corporation under foreign control; and if so, the nature thereof. In the case of a corporation.—(a) Whether such corporation is or is not •chartered under the laws of the United States or of a State of the United States. If it is not, no further declaration is necessary, but if it is, it must also be stated (b) whether the controlling interest in such corporation is or is not owned by citizens of the United States, and (c) whether there is or is not any arrangement under which such corporation will hold the shares or any of the shares if issued •or transferred to such corporation in trust for or in any way under the control of any foreign State or any foreigner, or foreign corporation, or any corporation under foreign control; and if so, the nature thereof. In the case of a firm or company.—(a) Whether the controlling interest in such firm or company is or is not owned by citizens of the United States; and if so, (6) whether there is or is not any arrangement under which such firm or company will hold the shares or any of the shares if issued or transferred to such firm or company in trust for or in any way under the control of any foreign State •or any foreigner, or foreign corporation, or any corporation under foreign control; and if so, the nature thereof. The board of directors of the Corporation, whether acting directly or through an agent, may, before making any issue or transfer of stock, require such further •evidence as in their discretion they may think necessary in order to determine whether or not the issue or transfer of the stock would result in a violation of the law. No issue or transfer of stock which would cause 50 per cent or more of the total amount of stock issued or outstanding to be held contrary to the provisions of the law or these regulations shall be made upon the books of the Corporation. The decision of the board of directors in each case shall be final and conclusive and not subject to any question by any person, firm, or corporation on any ground whatsoever. If at any time by reason of the fact that the holder of any shares of the Corporation ceases to be a citizen of the United States, or, in the opinion of the board of directors, becomes subject to the control of any foreign State or foreigner or foreign corporation or corporation under foreign control, 50 per cent or more of the total amount of capital stock issued or outstanding is held contrary to the provisions of the law or these regulations, the board of directors may, when apprised of that fact, forthwith serve on the holder of the shares in question a notice in writing requiring such holder within two months to transfer such shares to a citizen of the United States, or to a firm, company, or corporation approved by the board of directors as an eligible stockholder. When such notice has been given by the board of directors the shares of stock so held shall •cease to confer any vote until they have been transferred as required above and if on the expiration of two months after such notice the shares shall not have been so transferred, the shares shall be forfeited to the Corporation. The board of directors shall prescribe in the by-laws of the Corporation appropriate regulations for the registration of the shares of stock in accordance with the terms of the law and these regulations. The by-laws must also provide that the certificates of stock issued by the Corporation shall contain provisions sufficient to put the holder on notice of the terms of the law and the regulations of the Federal Reserve Board defining the limitations upon the rights of transfer. SECTION VIII. OPERATIONS IN THE UNITED STATES No Corporation shall carry on any part of its business in the United States except such as shall be incidental to its international or foreign business. Agencies may be established in the United States with the approval of the Federal Reserve Board for specific purposes, but not generally to carry on the business of the •Corporation. SECTION IX. INVESTMENTS IN THE STOCK OP OTHER CORPORATIONS It is contemplated by the law that a Corporation shall conduct its business abroad either directly or indirectly through the ownership or control of corporations, and accordingly the Federal Reserve Board hereby consents that a Corporation may invest in the stock, or certificates of ownership, of any other -corporation organized— (a) Under the provisions of section 25(a) of the Federal reserve act; (6) Under the laws of any foreign country or a colony or dependency thereof; (c) Under the laws of any State, dependency, or insular possession of the United States; Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

266 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Provided, first, That such other corporation is not engaged in the general business of buying or selling goods, wares, merchandise, or commodities in the United States; and second, that it is not transacting any business in the United States except such as is incidental to its international or foreign business. Except with the approval of the Federal Reserve Board, no Corporation shall invest an amount in excess of 15 per cent of its capital and surplus in the stock of any corporation engaged in the business of banking, or an amount in excess of 10 per cent of its capital and surplus in the stock of any other kind of corporation. No Corporation shall purchase any stock in any other corporation organized under the terms of section 25(a) or under the laws of any State, which is in substantial competition therewith, or which holds stock or certificates of ownership in corporations which are in substantial competition with the purchasing Corporation. This restriction, however, does not apply to corporations organized under foreign laws. SECTION X. BRANCHES No Corporation shall establish any branches except with the approval of the Federal Reserve Board, and in no case shall any branch be established in the United States. SECTION XI. ISSUE OF DEBENTURES, BONDS, AND PROMISSORY NOTES A Corporation is not required by law or by this regulation to make application to or obtain the approval of the Federal Reserve Board before making an issue of its debentures, bonds, notes, or other obligations, but Corporations issuing their debentures, bonds, notes, or other obligations must comply with the rules, regulations, and conditions hereinafter set forth. (a) General conditions.—All debentures, bonds, notes, or other such obligations issued by a Corporation (except notes payable to banks or bankers within one year) shall— (1) Be payable only in gold coin of the United States of the standard of weight and fineness existing at the time of issue; (2) Be payable not more than 20 years after the date of issue; (3) Be secured by collateral which shall— (i) Consist of lawful money of the United States and/or securities,, note:?, drafts, bills of exchange, acceptances, including bankers' acceptances, and other evidences of indebtedness and/or shares of stock in which the Corporation is authorized by law to invest its funds; (ii) Have an aggregate market value equal at all times to not lessthan 110 per cent of the aggregate principal amount of the obligationsissued or to be issued against such securities; and (Hi) Be transferred and delivered free of any prior lien, charge, or encumbrance thereon of any kind whatsoever, to a financially responsible bank or trust company, which is a member of the Federal reserve system, as trustee under a trust indenture executed by the Corporation: as security for the obligations of the Corporation issued or to be issued thereunder, which trust indenture shall prescribe the general form of such obligations and shall require that every such obligation shall be authenticated by the certificate of the trustee noted thereon. (b) Requirements after issuance.—Within 10 days after the issuance of any such debentures, bonds, notes, or other obligations (other than promissory notes; payable to banks or bankers within one year) the Corporation issuing the same shall file with the Federal Reserve Board— (1) A statement verified by the affidavit of its president or a vice president and its treasurer, cashier, or comptroller setting fprth— (i) That the requirements of this regulation in respect of the issue of debentures, bonds, notes, or other obligations have been complied with in all respects; (ii) The aggregate amount of the debentures, bonds, notes, or obligations issued under the trust indenture and the net price received by the Corporation therefor; (ii!) The various items of the collateral security pledged under the trust indenture and the market value, at the time of the issue of such obligations, of each and every item thereof; and (iv) The financial condition of the Corporation and, in detail, all its: assets and liabilities (fixed and contingent) as of the day immediately following such issue. (2) A copy of the trust indenture pursuant to which such obligations of the Corporation were issued, certified as correct by the trustee therein Digitized for FRASnaEmR ed. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 267 (3) A certificate of the trustee under such trust indenture setting forth— (i) That it has accepted the trust created by such trust indenture and is acting as trustee thereunder; (it) The securities and/or cash which have been delivered to it and which it holds as trustee under the trust indenture; and (Hi) The name and address of the counsel for the trustee. (4) The latest published balance sheet of the Corporation, certified as correct by the president or a vice president and by the treasurer, an assistant treasurer, the cashier or assistant cashier or the comptroller of the Corporation. (5) An opinion of the counsel for the trustee under the trust indenture to the effect that— (i) The trust indenture has been validly executed in pursuance of due corporate action; (it) That all necessary legal formalities have been complied with to make such obligations, when executed by the Corporation and authenticated by the trustee, valid and enforcible obligations of the Corporation entitled to the benefits afforded by the trust indenture; and (Hi) That the transfers executed to the trustee of the collateral security held by it under the trust indenture are in appropriate and sufficient form. (6) Copies of all prospectuses and other literature issued by the Corporation or its officers or bankers describing or affecting such issue. In case there shall be any substitution of or change in the securities at any time held under any such trust indenture securing an issue of debentures, bonds, notes, or other obligations the Corporation, each time it makes a report to the Federal Reserve Board pursuant to the provisions of Section XVI, shall file with the Federal Reserve Board a statement, verified by the affidavit of the president or a vice president and the treasurer, cashier, or comptroller of the Corporation— (1) Giving the details of such substitution or change; and (2) Certifying that such substitution or change has not resulted in a reduction of the aggregate market value of the collateral to an amount below 110 per cent of the aggregate principal amount of the obligations issued or to be issued against such securities. Such statement shall be accompanied by an acknowledgment by the trustee under the trust indenture that there has been delivered to it and that it holds as such trustee the additional collateral specified in such statement. The Federal Reserve Board reserves the right to make public whenever it believes it to be necessary in the public interest any documents filed with it under this subsection. (c) Advertisements.—No circular, prospectus, letter, advertisement, or other statement published or issued in any form or manner by a Corporation shall contain any matter to indicate that any issue of debentures, bonds, notes, or other obligations by such Corporation or the collateral securing same has in any way received the approval of the Federal Reserve Board or that the collateral securing same has been appraised or approved in any way by the Federal Reserve Board. This requirement will be strictly enforced in order that there may be no possibility of the public obtaining the impression that the Federal Reserve Board has approved in any way any such issue of debentures, bonds, notes, or other such obligations or the collateral securing same. SECTION XII. SALE OF SECURITIES WITH GUARANTY OR INDORSEMENT Whenever a Corporation sells, discounts, or negotiates with its indorsement or guaranty any securities, notes, drafts, bills of exchange, acceptances, bankers' acceptances, or other evidence of indebtedness, it shall enter on its books a proper record thereof, describing in detail each such evidence of indebtedness so sold, discounted, or negotiated, the amount thereof, the parties thereto, the maturity thereof, and the nature of the Corporation's liability thereon. Every financial statement of the Corporation submitted to the Federal Reserve Board or made public in any way shall show the aggregate amount of all such liabilities outstanding as of the date on which such statement purports to show the financial condition of the Corporation. SECTION XIII. ACCEPTANCES Kinds.—Any Corporation may accept (1) drafts and bills of exchange drawn upon it which grow out of transactions involving the importation or exportation of goods, and (2) drafts and bills of exchange which are drawn by banks or bankers Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

268 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD located in foreign countries or dependencies or insular possessions of the United States for the: purpose of furnishing dollar exchange as required by the usages of trade in such countries, dependencies, and possessions, provided, however, that no Corporation shall exercise its power to accept drafts or bills of exchange if at the time such drafts or bills are presented for acceptance it has outstanding any debentures, bonds, notes, or other such obligations issued by it. Maturity.—No Corporation shall accept any draft or bill of exchange which grows out of a transaction involving the importation or exportation of goods with a maturity ir. excess ol six months, or shall accept any draft or bill of exchange drawn for the purpose of furnishing dollar exchange with a maturity in excess of three months. Limitations.—(1) Individual drawers: No acceptances shall be made for the account of any one drawer in an amount aggregating at any time in excess of 10 per cent of the subscribed capital and surplus of the Corporation, unless the transaction be fully secured or represents an exportation or importation of commodities and is guaranteed by a bank or banker of undoubted solvency. (2) Aggregates: Whenever the aggregate of acceptances outstanding at any time (a) exceeds the amount of the subscribed capital and surplus, 50 per cent of all the acceptances in excess of the amount shall be fully secured; or (b) exceeds twice the amount of the subscribed capital and surplus, all the acceptances outstanding in excess of such amount shall be fully secured. (The Corporation shall elect whichever requirement (a) or (6) calls for the smaller amount of secured acceptances.) In no event shall any Corporation have outstanding at any one time acceptances drawn for the purpose of furnishing dollar exchange in an amount aggregating more than 50 per cent of its subscribed capital and surplus. Reserves.—Against all acceptances outstanding which mature in 30 days or less a reserve of at least 15 per cent shall be maintained, and against all acceptances outstanding which mature in more than 30 days a reserve of at least 3 per cent shall be maintained. Reserves against acceptances must be in liquid assets of any or all of the following kinds: (1) Cash; (2) balances with other banks; (3) acceptances of other banks or bankers; and (4) obligations of the Government of the United States. SECTION XIV. DEPOSITS In the United States.—No Corporation shall receive in the United States any deposits except such as are incidental to or for the purpose of carrying out transactions in foreign countries or dependencies of the United States where the Corporation has established agencies, branches, correspondents, or where it operates through the ownership or control of subsidiary corporations. Deposits of this character m^y be made by individuals, firms, banks, or other corporations, whether foreign or domestic, and may be time deposits or on demand. Outside the United States.—Outside the United States a Corporation may receive deposits of any kind from individuals, firms, banks, or other corporations: Provided, however, That if such Corporation has any of its bonds, debentures, or other such obligations outstanding it may receive abroad only such deposits as are incidental to the conduct of its exchange, discount, or loan operations. Reserves.—Against all deposits received in the United States a reserve of not less than 13 per cent must be maintained. This reserve may consist of cash in vault, a balance with the Federal reserve bank of the district in which the head office of the Corporation is located, or a balance with any member bank. Against all deposits received abroad the Corporation shall maintain such reserves as may be required by local laws and by the dictates of sound business judgment and banking principles. SECTION XV. GENERAL LIMITATIONS AND RESTRICTIONS Liabilities of one borrower.—The total liabilities to a Corporation of any preson, compan3r, firm, or corporation for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed i.O per cent of the amount of its subscribed capital and surplus: Provided, however, That the discount of bills of exchange drawn in good faith against actually existing values, the discount of commercial or business paper actually owned by the person negotiating the same, and the purchase of readily marketable bonds, notes, and other investment securities offered for sale in the open market, shall not be considered as money borrowed within the meaning of this paragraph. The liability of a customer on account of an acceptance made by the Corporation for his account is not a liability for money borrowed within the Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 269 meaning of this paragraph unless aiid until he fails to place the Corporation in funds to cover the payment of the acceptance at maturity or unless the Corporation itself holds the acceptance. Aggregate liabilities of the Corporation.—The aggregate of the Corporation's liabilities outstanding on account of acceptances, average domestic and foreign deposits, debentures, bonds, notes, guaranties, indorsements, and other such obligations shall not exceed at any one time ten times the amount of the Corporation's subscribed capital and surplus. In determining the amount of the liabilities within the meaning of this paragraph, indorsements of bills of exchange having not more than six months to run, drawn and accepted by others than the Corporation, shall not be included. Operations abroad.—Except as otherwise provided in the law and these regulations, a Corporation may exercise abroad not only the powers specifically set forth in the law but also such incidental powers as may be usual in the determination of the Federal Reserve Board in connection with the transaction of the business of banking or other financial operations in the countries in which it shall transact business. In the exercise of any of these powers abroad a Corporation must be guided by the laws of the country in which it is operating and by sound business judgment and banking principles. SECTION XVI. KEPORTS AND EXAMINATIONS Reports.—Each Corporation shall make at least two reports annually to the Federal Reserve Board at such times and in such form as it may require. Examinations.—Each Corporation shall be examined at least once a year by examiners appointed by the Federal Reserve Board. The cost of examinations shall be paid by the Corporation examined. SECTION XVII. AMENDMENTS TO REGULATIONS These regulations are subject to amendment by the Federal Reserve Board from time to time: Provided, however, That no such amendment shall prejudice obligations undertaken in good faith under regulations in effect at the time they were assumed. REGULATION L, SERIES OF 1930 (Superseding Regulation L, Second Series 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

270 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 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, rsgardless of its location. (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 i3uch 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 i'rom the date of his election or employment. SECTION III. EXCEPTIONS The provisions of section 8 the Clayton Act— (1) Do not apply to mutual savings banks not having a capital stock represented by shares. (2) Do not apply to joint-stock land banks organized under the provisions of the Federal farm loan act. (3) Do not apply to banking institutions which do no commercial banking business. (4) 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. (5) 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. (6) 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. (7) 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. (8) 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. (9) 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. (10) 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, Digitized for FRAoSr EeRm ployee of a State bank, even though either or both of such banks have http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

REGULATIONS OF THE FEDERAL RESERVE BOARD 271 resources aggregating over $5,000,000, provided both banks are not located in the same city of over 200,000 inhabitants. (11) 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. 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 employeeof 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. (b) 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 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 tjie 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; Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

272 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD 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. 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 taanks or corporations involved. Such applications should be sent^directly^tojthe Federal Reserve Board. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 273 DIRECTORY OF THE FEDERAL RESERVE BOARD (December 31,1930) EX OFFICIO MEMBERS EUGENE MEYER, Governor. Vice Governor. A. W. MELLON, CHARLES S. HAMLIN. Secretary of the Treasury, Chairman. ADOLPH C. MILLER. JOHN W. POLE, GEORGE R. JAMES. Comptroller of the Currency. WALTER L. EDDY, Secretary. W. M. IMLAY, Fiscal Agent. E. M. MCCLELLAND, Assistant Secre- E. A. GOLDENWEISER, Director Division tary. of Research and Statistics. J. C. NOELL, Assistant Secretary. CARL E. PARRY, Assistant Director , Chief, Division of Ex- Division of Research and Statistics. amination and Chief Federal Reserve EDWARD L. SMEAD, Chief Division Examiner. Bank Operations. WALTER WYATT, General Counsel. SALARIES OF OFFICERS AND EMPLOYEES OF THE FEDERAL RESERVE BOARD (December 31,1930) OFFICE OF SECRETARY Walter L. Eddy, secretary $14, 000. 00 E. M. McClelland, assistant secretary 9, 000. 00 J. C. Noell, assistant secretary 7, 000. 00 Staff: 2 at $4,800 9, 600. 00 1 at $4,000 4,000. 00 1 at $3,800 3, 800. 00 1 at $3,700 3, 700. 00 1 at $3,300 3,300. 00 1 at $3,200 3,200.00 1 at $3,000 3,000. 00 •2 at $2,900 5, 800. 00 2 at $2,800 5, 600. 00 1 at $2,600 2, 600. 00 •2 at $2,500 5,000.00 1 at $2,400 2,400. 00 2 at $2,200 4,400. 00 2 at $2,100 4, 200. 00 3at$2,000___ ___ 6,000.00 2 at $1,800 3, 600. 00 1 at $1,740 1, 740. 00 3 at $1,600 4, 800. 00 1 at $1,500 1, 500. 00 1 at $1,400 1, 400. 00 1 at $1,000 1,000. 00 1 at $840 840. 00 10 part-time employees 3, 001. 00 Total 114,481.00 OFFICE OF GENERAL COUNSEL Walter Wyatt, general counsel 12, 000. 00 George B. Vest, assistant counsel 7, 000. 00 B. M. Wingfield, assistant counsel 6, 000. 00 Staff: 1 at $3,000 3,000.00 2 at $2,800 5, 600. 00 1 at $1,920 1, 920. 00 1 at $1,800 ., 1,800.00 1 at $1,380 1, 380. 00 Total 38, 700. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

274 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD OFFICE OF FISCAL AGENT W. M. Imls.y, fiscal agent $5, 000. 00 Oliver E. Foulk, deputy fiscal agent 4, 200. 00 Staff: 1 at $2,100 2, 100. 00 11, 300. 00 OFFICES OF MEMBERS OF THE BOARD Staff: 1 at $3,600 3, 600. 00 2 at $3,000 6, 000. 00 1 at $2,900 2, 900. 00 1 at $2,300 2, 300. 00 1 at $2,000 2, 000. 00 1 at $1,600 1, 600. 00 Total 18, 400. 00 DIVISION OF BANK OPERATIONS Edward L. Smead, chief of division 12, 000. 00 John R. Van Fossen, assistant chief 6, 700. 00 Staff: 1 at $5.000 5, 000. 00 1 at $3^600 3, 600. 00 3 at $2^00 . 8, 700. 00 1 at $2,800 2, 800. 00 1 at $2,700 2, 700. 00 1 at $2.500 2, 500. 00 1 at $2.100 2, 100. 00 1 at $l!900 1, 900. 00 6 at $l!800 10, 800. 00 4 at $1.700 6, 800. 00 2 at $1.600 3, 200. 00 1 at $L560 1, 560. 00 2 at $l'.44O 2, 880. 00 Total 73, 240. 00 DIVISION OF EXAMINATION , chief of division and chief Federal reserve examiner. Examiners: Frank J. Drinnen 9, 000. 00 Rolfe E. Brett 7, 000. 00 L. A. A. Siems 6, 000. 00 R. F. Leonard 5, 700. 00 M. R. Wilkes 5, 400. 00 Assistant examiners: 2 at $5,200 10, 400. 00 1 at $4,800 4, 800. 00 1 at $4,500 4, 500. 00 2 at $4,200 8, 400. 00 1 at $4,000 4, 000. 00 1 at $3,800 3, 800. 00 1 at $3,600 3, 600. 00 1 at $3,500 3, 500. 00 2 at $2,700 5, 400. 00 Staff: 1 at $2,400 2, 400. 00 Total 83, 900. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOARD SALARIES 275 DIVISION OF RESEARCH AND STATISTICS E. A. Goldenweiser, director of division $12, 000. 00 Carl E. Parry, assistant director 8, 500. 00 Staff: 1 at $6,000 6, 000. 00 2 at $5,000 10, 000. 00 1 at $3,800 3, 800. 00 2 at $3,600 7, 200. 00 1 at $3,500 3, 500. 00 2 at $3,400 6, 800. 00 1 at $3,160 3, 160. 00 1 at $2,800 2, 800. 00 1 at $2,600 2, 600. 00 1 at $2,500 2, 500. 00 1 at $2,200 2, 200. 00 2 at $2,100 4, 200. 00 8 at $2,000 16, 000. 00 2 at $1,900 3, 800. 00 1 at $1,860 1, 860. 00 2 at $1,800 3, 600. 00 5 at $1,680 8, 400. 00 1 at $1,620 1, 620. 00 1 at $1,560 1, 560. 00 3 at $1,440 4, 320. 00 1 at $1,200 1, 200. 00 Total 117, 620. 00 DIVISION OF FEDERAL RESERVE ISSUE AND REDEMPTION L. G. Copeland, chief of division 4, 500. 00 W. J. Tucker, assistant chief 2, 920. 00 Staff: 1 at $2,500 2, 500. 00 2 at $2,000 4, 000. 00 1 at $1,920 1, 920. 00 2 at $1,860 3, 720. 00 2 at $1,680 3, 360. 00 2 at $1,620 3, 240. 00 I5jat $1,500 22,500.00 8 at $1,380 11, 040. 00 1 at $1,320 1, 320. 00 TotaL-_ 61, 020. 00 MESSENGERS 1 at $1,800 1, 800. 00 1 at $1,600 1, 600. 00 2 at $1,560 3, 120. 00 8 at $1,320 10, 560. 00 1 at $1,250 1, 250. 00 1 at $1,200 1, 200. 00 1 at $1,100 1, 100. 00 1 at $1,000 1, 000. 00 Total 21, 630. 00 CHARWOMEN $ at 50 cents per hour 2, 887. 00 Grand total 543, 178. 00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

276 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 1930 Balance Jan. 1, 1930: Available for general expenses of the board... _ $85,814.96 Available for expenses chargeable to Federal reserve banks 121,691.56 Total-. _ $207,506.52 RECEIPTS Available for general expenses of the board: Assessments on Federal reserve banks for estimated general expense of the board ___ _. $809,585.34 Reimbursement of expenditures during 1929. _ 127. 57 Subscriptions to Federal Reserve Bulletin 5,069.95 Miscellaneous receipts, refunds, and reimbursements _.. 1,641. 57 Reimbursement on account of bank examinations. _ 5,046.43 Total receipts available for general expenses of the board 821,470.86 Available for expenses chargeable to Federal reserve banks: Assessments on Federal reserve banks for— Cost of preparing Federal reserve notes._ 2,020,415.41 Expenses of leased wire system _._ 208,856.85 Expenses of private telephone lines 27, 582. 72 Miscellaneous expenses _ 11, 269. 24 Total receipts available for expenses chargeable to Federal reserve banks 2,268,124.22 Total receipts __ _ 3,089,595. OS Total available for disbursement 3,297,101. DISBURSEMENTS For general expanses of the board: Expenses for 1929 paid in 1930 _._ __ $16,924.05 Expenses for 1930 (per detailed statement) $778, 759. 94 Less accounts unpaid Dec. 31, 1930 (estimated)-.. 13, 731.14 765, 028. 80 M iscellanec us expenses reimbursable _ 62. 79 Refunds on account of subscriptions to Federal Reserve Bulletin. 9.10 Total disbursements for general expenses of the board 782,024. 74 For expenses chargeable to Federal reserve banks: Cost of preparing Federal reserve notes 1,984,854.51 Expenses oi leased wire system 205,269.82 Expenses oi private telephone lines _ 27,582. 72 Miscellaneous expenses _ 5,940.59 Total disbursements for expenses chargeable to Federal reserve banks 2,223,647.64 Total disbursements..- - 3,005,672.38 Balance Dec. 31, 1930: Available for general expenses of the board, 1931, and accounts unpaid Dec. 31, 1930 - 125,261.08 Available for expenses chargeable to Federal reserve banks unpaid Dec. 31, 1930 166,168.14 Total balance... 291,429.22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DETAILED STATEMENT OF EXPENSES OF THE FEDERAL RESERVE BOARD, 1930 Total January February March April May June July August Se b p e te r m- October No b v e e r m- De b c e e r m- PERSONAL SERVICES Board members and their staff $97,064.99 $8, 656. 63 $8, 656.67 $8, 656, 70 $8, 656. 63 $8, 656, 67 $8,656. 70 $8,591. 63 $8, 550. 01 $7, 300. 03 $7, 358. 30 $7,208. 34 $6,116. 68 Office of the secretary.__ 110,312.46 9,063.40 9.024.49 8,999. 44 8, 917. 57 9,069. 49 9,191. 75 9,187. 90 9,161. 88 9, 505.04 9,301. 73 9, 346.15 9,543. 62 Office of general counsel _ 38, 700. 00 3, 224.99 3,224.99 3, 225.02 3, 224.99 3, 224.99 3,225.02 3, 224.99 3, 224.99 3, 225. 02 3,224.99 3,224.99 3,225.02 Office of fiscal agent _ 11, 300. 00 941. 66 941.67 941. 67 941. 66 941.67 941. 67 941. 66 941. 67 941. 67 941.66 941. 67 941.67 Division of examination 85, 526. 03 7, 267. 67 7, 241.66 7, 241. 70 7, 241.64 7,241. 66 7, 240. 87 7,092. 47 6,991. 66 6,991. 70 6,991.64 6,991. 66 6, 991.70 Division of bank operations 73,192.49 6,078.25 6,111.67 6, 111. 74 6,116. 59 6,103. 34 6,103.40 6,103. 26 6,103.34 6,103.40 6, 050. 76 6,103. 34 6,103.40 Division of research and statistics 114, 554.80 9,105.12 9,328.68 9, 680. 77 9, 259.89 9,085.01 9, 266. 77 9,972. 72 10, 589.18 10,494.10 9,427.11 9, 218. 68 9,126. 77 Division of issue and redemption 71, 673.14' 7, 763. 34 7, 720.01 7,713. 38 7,006. 68 5,246. 67 5, 250.02 5, 249. 98 5,163.33 5, 210.02 5,209.98 5,085.00 5,054. 73 Messengers _ ___ _ 21,604.00 1, 802.48 1.802.50 1,802. 52 1, 802.48 1,802.50 1,802. 52 1,802.48 1, 776. 50 1,802. 52 1, 802.48 1,802.50 1,802.52 Charwomen 2,887.00 234.00 207.00 234. 00 234. 00 225.00 225.00 258.00 260.00 250.00 270.00 240.00 250.00 General _ 4,055. 33 633. 3; 1,000.00 384.00 1,182.00 416.00 400.00 40.00 Total 630,870. 24j 54,137. 54 54, 259.34 55, 240. 27 54,402.13 51, 597.00 52,287. 72 53, 607. 09 53,178. 56 52, 223. 50 50, 618. 65 50,162. 33 49,156.11 NONPERSONAL SERVICES Transportation and subsistence: Board members and their staff 2,484. 79 440. 70 87.55 232. 56 551.65 124. 65 130. 161. 73 430. 32 31.30 42.03 207.15 45.03 Office of the secretary _ 374. 35 359.40 14.95 Office of general counsel 37.53 11.89 25.64 Division of examination 56,395.45 4, 578.99 9,922.19 4, 805. 73 4, 734.08 6, 589.22 4, 226.05 4,606.85 1,164. 95 3, 842. 31 4,289.00 4,495. 04 3,141.04 Division of research and statistics 2,406.77 53.91 30.59 90.56 797. 86 103.11 32.55 61.46 726. 95 80.74 314. 5T 114.47 All other divisions, including local car fare 208.88 114.78 296. 52 276. 78 326.90 244.28 199. 73 62.58 261. 88 269.98 141.03 205.54 Communication service: Telephone __ 8,109.97 679.42 622.32 701.88 642.54 659.80 629. 85 722.46 711.11 712.26 675. 00 725. 00 Telegraph 3,355.58 340. 01 277.39 383.64 267.46 312.93 387. 52 169.42 135. 21 387. 00 135. 00 175.00 385.00 Postage 711.65 65.60 30.00 31.00 98.40 84.00 30.00 68.65 43.50 74.00 27.00 71.50 88.00 Printing, binding, etc 38, 371.40 6, 313.69 2,182.61 4,196.93 2, 614. 22, 3,316.92 2, 665.84 1, 812.41 3,087. 76 2,363. 71 3, 973.62 3,168. 89 2, 674.80 Repairs 541.09 36.46 131.72 18.40 21.881 59.04 31.55 61.10 28.28 72.11 44.41 8.73 27.41 Heat, light, and power 855.46 81.51 81.52 81.53 81. 54 81.54 39.82 40.00 40.00 82.00 82.00 82.00 82.00 Miscellaneous, unclassified 1, 547. 31 187.54 175.79 140.19 42. 74 123.03 96.25 64.48 127. 62 133. 27 177.40 154. 00 125.00 Equipment rental _ 54.00 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 Supplies, stationery and office 4, 996.81 111.20 246.4: 1,112.89 25.43 112.83 760.13 348. 92 77.24 910. 64 239. 78 141. 00 910. 34 Equipment, furniture and office 5,462.90 938.40 224.81 361. 59 61.70 114.05 688.95 304.45 365. 58 633. 75 192.16 687. 68 889. 78 Books and periodicals 3, 360.17 1,475.67 1,009.30 174. 91 75.00 68.84 39.08 52.53 111.00 58.00 17.00 239.84 39.00 Rent._ 16, 215.59 1,333.33 1, 333.33 1,333. 34 1, 333. 33 1,500.00 1, 500. 00 1, 313. 71 1, 313.71 1, 313. 71 1,313.71 1, 313. 71 1, 313.71 Total 147,889. 70 16,849.81 16,834.2: 13, 892. 62 11, 703. 40 13, 564.10 11, 536. 44 9,911. 68 8,467.30 10,879. 29 11,600. 59 11,879.64 10, 770. 62 Grand total. 778, 759. 94 70,987.35 71,093.55 19,132. 8S 66,105. 53 65,161.10 63,824.16 63, 518. 77 61,645. 86 63,102. 79 62, 219.24 62,041.97 59, 926. 73 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

278 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD SALARIES OF NATIONAL BANK EXAMINERS (As of December 31, 1930) DISTRICT NO. 1—BOSTON F. D. Williams, chief examiner $13,000 1 examiner, at $7,000; 1 examiner, at $5,300; 1 examiner, $5,100; 3 examiners, at $4,500; 1 examiner, at $4,200; 1 examiner, at $3,300. Total, 8 examiners 38, 000 DISTRICT NO. 2—NEW YORK L. K. Roberts, chief examiner 20, 000 1 examiner, at $9,500; 1 examiner, at $7,200; 2 examiners, at $7,000; 1 examiner, at $6,600; 3 examiners, at $6,000; 1 examiner, at $5,500; 1 examine*, at $5,400; 1 examiner, at $5,200; 1 examiner, at $5,000; 1 examiner, at $4,800; 1 examiner, at $4,500; 3 examiners, at $4,200; 2 examinesrs, at $4,000, 2 examiners, at $3,900; 3 examiners, at $3,600; 3 examiners, at $3,300; 5 examiners, at $3,000; 1 examiner, at $2,700. Total, 33 examiners 152, 500 DISTRICT NO. 3—PHILADELPHIA ,13. L. Newnham, chief examiner 15, 000 1 examiner, at $7,000; 1 examiner, at $6,200; 1 examiner, at $5,800; 2 examiners!, at $4,800; 2 examiners, at $4,500; 3 examiners, at $4,200; 2 examine:rs, at $3,900; 1 examiner, at $3,000. Total, 13 examiners-_ 61, 000 DISTRICT NO. 4—CLEVELAND William Taylor, chief examiner 12, 000 1 examiner, at $6,800; 1 examiner, at $6,000; 1 examiner, at $5,300; 4 examiners, at $4,500; 1 examiner, at $4,300; 2 examiners, at $3,900; 1 examiner, at $3,800; 1 examiner, at $3,600; 2 examiners, at $3,300; 2 examiners, at $3,000. Total, 16 examiners 68, 200 DISTRICT NO. 5—RICHMOND I. I. Chorptsning, chief examiner 10, 000 1 examiner, at $5,000; 1 examiner, at $4,800; 4 examiners, at $4,500; 3 examiners, at $4,200; 1 examiner, at $3,800; 1 examiner, at $3,600; 1 examiner, at $3,000; 1 examiner, at $2,700. Total, 13 examiners._ 53, 500 DISTRICT NO. 6—ATLANTA E. D. Robb, chief examiner 12, 000 1 examiner, at $5,200; 1 examiner, at $5,000; 1 examiner, at $4,800; 1 examiner, at $4,700; 2 examiners, at $3,900; 1 examiner, at $3,000; 1 examiner, at $2,700. Total, 8 examiners 33, 200 DISTRICT NO. 7—CHICAGO A. P. Leyburn, chief examiner j.^, uuJ 1 examiner, at $7,000; 1 examiner, at $6,200; 2 examiners, at $6,000; 1 examiner at $5,700; 2 examiners, at $4,800; 2 examiners, at $4,200; 1 examiner, at $4,100; 1 examiner, at $4,000; 3 examiners, at $3,900; 2 examiners, at $3,600; 2 examiners, at $3,300; 2 examiners, at $3,000; 1 examiner, at $2,700. Total, 21 examiners 91, 200 DISTRICT NO. 8—ST. LOUIS Robert Neill, chief examiner 10, 000 2 examiners, at $6,000; 1 examiner, at $4,500; 2 examiners, at $4,200; 2 examiners, at $3,600; 1 examiner, at $3,300; 1 examiner, at $2,700. Total, 9 examiners . 38, 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SALARIES OF NATIONAL BANK EXAMINERS 279 DISTRICT NO. 9—MINNEAPOLIS L, L. Madland, chief examiner __. $10,000 1 examiner, at $5,300; 1 examiner, at $5,000; 2 examiners, at $4 500; y 1 examiner, at $4,200; 1 examiner, at $3,900; 1 examiner, at $3,600; 1 examiner, at $3,300; 2 examiners, at $3,000; 2 examiners, at $2,700. Total, 12 examiners 45, 700 DISTRICT NO. 10—KANSAS CITY I. D. Wngnt» chief examiner 13, 000 1 examiner, at $5,000; 3 examiners, at $4,500; 1 examiner, at $4,000; 1 examiner, at $3,900; 2 examiners, at $3,600; 4 examiners, at $3,300; 4>xaminers, at $3,000. Total, 16 examiners 58, 800 DISTRICT NO. 11—DALLAS R. H. Collier, chief examiner 14, 000 2 examiners, at $6,300; 1 examiner, at $6,000; 1 examiner, at $5,000; 1 examiner, at $4,700; 2 examiners, at $4,500; 1 examiner, at $4,000; 3 examiners, at $3,600, 3 examiners, at $3,300. Total, 14 examiners. - 62, 000 DISTRICT NO. 12—SAN FRANCISCO T. E. Harris, chief examiner 15, 000 1 examiner, at $6,000; 1 examiner, at $5,700; 1 examiner, at $5,300; 1 examiner, at $5,200; 2 examiners, at $4,500; 1 examiner, at $4,300; 1 examiner, at $4,000; 2 examiners, at $3,900; 8 examiners, at $3,600; 1 examiner, at $3,300; 2 examiners, at $3,000; 2 examiners, at $2,700; 1 examiner, at $2,500. Total, 24 examiners 93, 300 Total, 187 examiners __ _ 795, 900 RECAPITULATION Examining staff, Office of Comptroller of the Currency: Chief examiner, at $11,000 1 Assistant chief examiners— At $9,000 3 At $7,000 1 At $6,500 1 National bank examiner, at $5,500 1 Total 7 $57,000 Chief examiners of districts— At $20,000 1 At $15,000 2 At $14,000 1 At $13,000 2 At $12,000 3 At $10,000 3 Total 12 156, 000 Other examiners— At $9,500 . 1 At $7,200 1 At $7,000 5 At $6,800 1 At $6,600 1 At $6,400 2 At $6,300 2 At $6,000 10 At $5,800 1 At $5,700 2 At $5,500 1 At $5,400 1 33454^-31 19 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

280 ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD Examining staff, Office of Comptroller of the Currency—Continued. Other €jxaminers—Continued. At $5,300 4 At $5,200 3 At $5,100 1 At $5,000 ... 6 At $4,800 7 At $4,700 2 At $4,500 24 At $4,300 2 At $4,200 15 At $4,100 1 At $4,000 6 At $3,900 15 At $3,800 2 At $3,600 23 At $3,300 18 At $3,000 20 At $2,700 9 At $2,500 1 Total 187 $795, 900 Total examining staff * 206 Total salary ... 1, 008, 900 DIRECTORY OF THE FEDERAL ADVISORY COUNCIL (December 31, 1930) District No. 1.—HERBERT K. HALLETT, chairman Atlantic National Bank, Boston, Mass. District No. 2.—WILLIAM C. POTTER, president Guaranty Trust Co., New York, N. Y. District No. 3.—HOWARD A. LOEB. chairman Tradesmens National Bank & Trust Co., Philadelphia, Pa. District No. 4.—HARRIS CREECH, president Cleveland Trust Co., Cleveland, Ohio. District No. 5.—JOHN POOLE, president Federal American National Bank, Washington, I). C. District No. 6.—J. P. BUTLER, president Canal Bank & Trust Co., New Orleans, La. District No. 7.—MELVIN A. TRAYLOR, president First National Bank, Chicago, 111. District No. 8.—WALTER W. SMITH, president First National Bank, St. Louis, Mo. District No. 9.—GEORGE H. PRINCE, chairman First National Bank, St Paul, Minn. District No. 10.—WALTER S. MCLUCAS, chairman Commerce Trust Co., Kansas City, Mo. District No. 11.—B. A. MCKINNEY, v'ce president First National Bank, Dallas, Tex. District No. 12.—F. L. LIPMAN, president Wells Fargo Bank & Union Trust Co., San Francisco, Calif. 1 In addition there are 11 national-bank examiners not receiving salaries who are acting as receivers, or are unassigned. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL KEPORT OF THE FEDERAL RESERVE BOARD 281 GOVERNORS AND DIRECTORS OF FEDERAL RESERVE BANKS J DISTRICT NO. 1.—FEDERAL RESERVE BANE OF BOSTON FREDERIC H. CURTISS, Chairman and Federal Reserve Agent. ALLEN HOLLIS, Deputy Chairman. R. A. YOUNG, Governor Term Director Residence expires Dec. 31 Class A: Edward S| Kennard _. Rumford, Me 1930 Frederick S. Chamberlain ... New Britain, Conn 1931 Alfred L. Ripley Boston, Mass 1932 Class B: A. F. Bemis do.._ 1930 Albert C. Bowman Springfield, Vt~ - 1931 Philip R. Allen East Walpole, Mass...... 1932 Class C.- Allen Hollis Concord, N. II 19301 Chas. H. Merrinian Providence, R. I -. . - 1931 Frederic H. Curtiss Boston, Mass. _ 1932 DISTRICT NO. 2.—FEDERAL RESERVE BANK OF NEW YORK J. H. CASE, Chairman and Federal Reserve Agent. OWEN D. YOUNG, Deputy Chairman. GEORGE L. HARRISON, Governor Class A: Delmer Runkle... Hoosick Falls, N. Y. 1930 Chas. E. Mitchell New York, N. Y 1931 Thos. W. Stephens Montclair, N. J 1932 Class B: Samuel W. Reyburn New York, N. Y_. 1930 Wm. H. Woodin do. 1931 Theodore F. Whitmarsh. do. 1932 Class C: Clarence M. Woolley Greenwich, Conn. 1930 J. H. Case New York, N. Y 1931 Owen D. Young do 1932 BUFFALO BRANCH R. M. O'HARA, Managing Director R. M. O'Hara Buffalo, N. Y- 1930 Arthur G. Hough Batavia, N. Y. 1930 George F. Rand. Buffalo, N. Y. 1930 George G. Kleindinst_. do 1931 John T. Symes Lockport, N. Y. 1931 F. B. Cooley Buffalo, N. Y... 1932 Lewis G. Harriman.__ do 1932 DISTRICT NO. 3.—FEDERAL RESERVE BANK OF PHILADELPHIA RICHARD L. AUSTIN, Chairman and Federal Reserve Agent. ALBA B. JOHNSON, Deputy Chairman. GEORGE W. NORRIS, Governor Class A: George W. Reily.... : Harrisburg, Pa 1930 John C. Cosgrove Johnstown, Pa 1931 Joseph Wayne, jr _ Philadelphia, Pa 1932 Class B: Arthur C. Dorrance Camden, N. J... 1930. C. F. C. Stout..- Philadelphia, Pa 1931 Arthur W. Sewall do 1932 Class C: Alba B. Johnson . .. . do 1930 Harry L. Cannon.. Bridgeville, Del. 1931 Richard L. Austin Philadelphia, Pa 1932 1 For directors elected in December, 1930, for the 3-year term beginning Jan. 1, 1931, see Federal Reserve Bulletin for February, 1931. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

282 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 4.—FEDERAL RESERVE BANK OF CLEVELAND GEORGE DECAMP, Chairman and Federal Reserve Agent. L. B. WILLIAMS, Deputy Chairman. E. R. FANCHEB, Governor Term Director Residence expires Dec. 31 Class A: O. N. Sams... Hillsboro, Ohio.. 1930 Chess Lamberton.. Franklin, Pa.. 1931 Robert Warclrop Pittsburgh, Pa... 1932 Class B: S. P. Bush. Columbus, Ohio. 1930 R. P. Wrigh;.. Erie, Pa 1931 George D. C:abbs.. Cincinnati, Ohio.. 1932 Class C: W. W. Knight Toledo Ohio 1930 L. B. Williams Cleveland, Ohio,. 1931 George DeCamp do 1932 CINCINNATI BRANCH C. F. MCCOMBS, Managing, Director C. F. McCombs Cincinnati, Ohio.-. 1930 George M. Verity Middletown, Ohio. 1930 B. H. Kroger - ----- Cincinnati, Ohio... 1930 Fred A. Geier. - .do_. 1931 E. S. Lee... - Covington, Ky 1931 John Omwake.. - - - Cincinnati, Ohio_._ 1932 T. J. Davis - do 1932 PITTSBURGH BRANCH J. C. NEVIN, Managing Director J. C. Nevin - Pittsburgh, Pa 1930 Jos. R. Naylor Wheeling, W. Va~ 1930 R. B. Mellon- - - Pittsburgh, Pa 1930 A. E. Braun— do 1931 James Rae —.do- --._ 1931 A. L. Humphrey _ do 1932 Jos. R. Eisamar.. - — - Greensburg, Pa. 1932 DISTRICT NO. 5.—FEDERAL RESERVE BANE OF RICHMOND WILLIAM W. HCXTON, Chairman and Federal Reserve Agent. FREDERIC A. DELANO, Deputy Chairman. GEORGE J. SEAT, Governor Class A: Charles E. Rienian... Baltimore, Md 1930 James C. Braswell... Rocky Mount, N. C. 1931 L. E. JohnsDn Alderson, W. Va 1932 Class B: J. P. Fishburn. Roanoke, Va 1930 Edwin C. Graham.-. Washington, D. C... 1931 D. R. Coker Hartsville, S. C 1932 Class C: Frederic A. Delano... Washington, D. C. 1930 Robert Lassiter Charlotte N. C. 1931 William W. Hoxton.. Richmond, Va _ 1932 BALTIMORE BRANCH ALBERT H. DUDLEY, Managing Director Albert H. Dudley Baltimore, Md_. 1930 Norman James do 1930 H. B. Wilcox. do 1930 William H. M&tthai. do . 1931 Levi B. Phillips Cambridge, Md_. 1931 JE. P. Cohill... Hancock, Md 1932 h. S. Zimmerman Baltimore, Md._. 1932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOVEENOES AND DIRECTORS 283 DISTRICT NO. 5.—FEDERAL RESERVE BANK OF RICHMOND—Continued CHARLOTTE BRANCH HUGH LEACH, Managing Director Term Director Residence expires Dec. 31 Hugh Leach Charlotte, N. C_... 1930 John A. Law Spartanburg, S. C. 1930 Robert Gage Chester, S. C 1930 John L. Morehead. Charlotte, N. C 1931 W. H. Wood .do.. 1931 Chas. A. Cannon.. Kannapolis, N. C_. 1932 C. L. Cobb Rockhill, S. C 1932 DISTRICT NO. 6—FEDERAL RESERVE BANE OF ATLANTA OSCAR NEWTON, Chairman and Federal Reserve Agent. W. H. KETTIG, Deputy Chairman. E. R. BLACK, Governor Class A: H. Lane Young Atlanta, Ga... 1930 E. C. Melvin Selma, Ala 1931 G. G. Ware Leesburg, Fla.. 1932 Class B: J. A. McCrary uDeeucaaitmur,, VGJ»a. 1930 Luke Lea Nashville, Tenn_ 1931 Leon C. Simon New Orleans, La. 1932 Class C: I George S. Harris I Atlanta, Ga 1930 W. H. Kettig Birmingham, Ala 1931 Oscar Newton Atlanta, Ga 1932 NEW ORLEANS BRANCH MARCUS WALKER, Managing Director Marcus Walker. New Orleans, La- 1930 Albert P. Bush.. Mobile, Ala 1930 J. D. O'Keefe.— New Orleans, La.. 1930 P. H. Saunders.. .do 1931 R. S. Hecht .do.. 1931 L. C. Simon ..do.. 1932 F. W. Foote Hattiesburg, Miss.. 1932 BIRMINGHAM BRANCH A. E. WALKER, Managing Director A. E. Walker Birmingham, Ala- 1930 E. F. Allison Bellamy, Ala 1930 W. E. Henley Birmingham, Ala. 1930 W. H. Kettig .do 1931 John H. Frye .do.. 1931 Oscar Wells ..do., 1932 W. W. Crawford.. -do.. 1932 JACKSONVILLE BRANCH W. S. MCLARIN, Jr., Managing Director W. S. McLarin, jr. Jacksonville, Fla_. 1930 S. O. Chase Sanford, Fla 1930 A. F. Perry Jacksonville, Fla.. 1930 J. C. Cooper .do.. 1931 G. G. Ware Leesburg, Fla 1931 Fulton Saussy Jacksonville, Fla. 1932 Edw. W. Lane do 1932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

284 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 6.—FEDERAL RESERVE BANK OF ATLANTA—Continued NASHVILLE BRANCH JOEL B. FORT, Jr., Managing Director Term Director Residence expires Dec. 31 Joel B. Fort, jr Nashville, Tenn.. 1930 William P. Ridley. Columbia, Tenn. 1930 J. E. Caldwell Nashville, Tenn.. 1930 Luke Lea .do_. 1931 J. B. Ramsey Knoxville, Tenn. 1931 P. M. Davis Nashville, Tenn.. 1932 E. A. Lindsey ..—do 1932 DISTRICT NO. 7—FEDERAL RESERVE BANK OF CHICAGO WILLIAM A. HEATH, Chairman and Federal Reserve Agent. JAMES SIMPSON, Deputy Chairman. JAME3 B. MCDOUGAL, Governor Class A: George M. Reynolds.. Chicago, 111 1930 Edward R. Estberg... Waukesha, Wis.... 1931 George J. Sehaller Storm Lake, Iowa.. 1932 Class B: Max W. Babb Milwaukee, Wis_. 1930 S. T. Crapo-.. Detroit, Mich 1931 Robert M. iFeustel.... Fort Wayne, Ind. 1932 Class C: William A. Heath.... Chicago, 111.. 1930 F. C. Ball Muncie, Ind. 1931 James Simpson Chicago, 111.. 1932 DETROIT BRANCH W. R. CATION, Managing Director W. R. Cation Detroit, Mich 1930 David McMorran Bay City, Mich... 1930 George B. Morlsy... j Saginaw, Mich 1930 James Inglis i Detroit, Mich 1931 William J. Gray ! do 1931 N. P. Hull I Lansing, Mich 1932 Julius H. Haass I Detroit, Mich 1932 DISTRICT NO. 8—FEDERAL RESERVE BANK OF ST. LOUIS JOHN S. WOOD, Chairman and Federal Reserve Agent. JOHN W. BOEHNE, Deputy Chairman. WILLIAM MCC. MARTIN, Governor Class A: Max B. Nahm Bowling Green, Ky 1930 John C. Martin Salem, 111 1931 St. Louis, Mo... . 1932 Class B: J W Harris do . 1930 W. B. Plunkett. Little Rock, Ark 1931 M P Sturclivant Glendora, Miss 1932 Class C: John S Wood St. Louis, Mo 1930 Paul Dillard . . - Memphis, Tenn 1931 John W Bcehne Evansville, Ind 1932 LOUISVILLE BRANCH W. P. KINCHELOE, Managing Director W. P. Kincheloa 1930 E. H. Woods. 1930 T. D. Seales - Boonville, Ind. 1930 E. L. Swearingen Louisville, Ky._ 1931 John T. Reynolds Greenville, Ky.. 1931 E W u r g R en . e C E o . l e H . ogo L Fr o a u n is k v fo il r l t e , , K K y y. . _ _ 1 1 9 9 3 3 2 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GOVERNORS AND DIRECTORS 285 DISTRICT NO. 8.—FEDERAL RESERVE BANK OF ST. LOUIS—Continued MEMPHIS BRANCH W. H. GLASGOW, Managing Director Term Director Residence expires Dec. 31 W.JH. Glasgow... Memphis, Tenn.. 1930 E.IL. Anderson.. Clarksdale, Miss.. 1930 R.fB. Snowden_- Memphis, Tenn-. 1930 S. E. Ragland .do. 1931 J. W. Alderson— Forrest City, Ark- 1931 William Orgill Memphis, Tenn._. 1932 J. M. Tarrant Dyersburg, Tenn_. 1932 LITTLE ROCK BRANCH A. F. BAILEY, Managing Director A. F. Bailey Little Rock, Ark... 1930 Hamp Williams.... Hot Springs, Ark_. 1930 JohnM. Davis Little Rock, Ark.. 1930 Moorhead Wright.. .do. 1931 JoNichol Pine Bluff, Ark... 1931 G. H. Campbell-_. Little Rock, Ark.. 1932 Stuart Wilson Texarkana, Ark... 1932 DISTRICT NO. 9—FEDERAL RESERVE BANK OF MINNEAPOLIS JOHN R. MITCHELL, Chairman and Federal Reserve Agent. HJOMER P. CLARK, Deputy Chairman. W. B. GEERY, Governor Class A: Karl J. Farup Park River, N. Dak 1930 Paul J. Leeman Minneapolis, Minn 1931 J. C. Bassett Aberdeen, S. Dak 1932 Class B: John S. Owen Eau Claire, Wis 1930 W. O. Washburn St. Paul, Minn 1931 N. B. Hotter Helena, Mont 1932 Class C: Homer P. Clark St. Paul, Minn.. 1930 George W. McCormick Menominee, Mich 1931 John R. Mitchell Minneapolis, Minn 1932 HELENA BRANCH R. E. TOWLE, Managing Director R. E. Towle Helena, Mont . . 1930 C. J. Kelly Butte, Mont 1930 Samuel McKennan Helena, Mont 1930 T. A. Marlow — do 1931 Henry Sieben do 1931 DISTRICT NO. 10—FEDERAL RESERVE BANK OF KANSAS CITY M. L. MCCLURE, Chairman and Federal Reserve Agent. WM. L. PETRIKIN, Deputy Chairman. W. J. BATLEY, Governor Class A: C. C. Parks Denver, Colo. 1930 Frank W. Sponable I Paola, Kans 1931 E. E. Mullaney j Hill City, Kans Class B: | W. D. Hosford Omaha, Nebr 1930 J. M. Bernardin I Kansas City, Mo.. 1931 L' . E. Phillips ' Bartlesville, Okla.. 1932 Class C: W. W. Magee Bennington, Nebr. 1930 William L. Petrikin.— Denver, Colo 1931 M. L. McClure Kansas City, Mo.. 1932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

286 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 10.—FEDERAL RESERVE BANK OF KANSAS CITY—Continued DENVER BRANCH J. E. OLSON, Managing Director Term Director Residence expires Dec. 31 J. E. Olson Denver, Colo 1030 Merrit W. Gano_. do 1930 Harold KountzD do 1930 Murdo MacKenzie ... .. .do 1931 Harry W. Farr - Qreeley, Colo 1931 R.H.Davis Denver, Colo . 1932 Henry Swan .. do 1932 OMAHA BRANCH L. H. EARHART, Managing Director L. H. Earhart Omaha, Nebr 1930 D. M. Hildebrand Seward, Nebr 1930 R. O. Marnell Nebraska City, Nebr 1930 William Diesinj;.. Omaha, Nebr 1931 A. H. Marble Cheyenne, Wyo 1931 William E. Haidy. Lincoln, Nebr 1932 T. L. Davis Omaha, Nebr 1932 OKLAHOMA CITY BRANCH C. E. DANIEL, Managing Director C. E.Daniel--. Oklahoma City, Okla. 1930 J. B. Doolin.... Alva, Okla.. 1930 William Mee... Oklahoma City, Okla.. 1930 W. F. Nichols- Tulsa, Okla 1931 Ned Holman do 1931 Austin Miller- Oklahoma City, Okla. 1932 H. H. Ogden Muskogee, Okla 1932 DISTRICT NO. 11—FEDERAL RESERVE BANK OF DALLAS C. C. WALSH, Chairman and Federal Reserve Agent. S. B. PERKINS, Deputy Chairman. LYNN P. TALLEY, Governor Class A: J. H. Frost San Antonio, Tex 1930 W. H. Patrick Clarendon, Tex __ 1931 J. P. Williams — Mineral Wells, Tex _ 1932 Class B: J. R. Milam Waco, Tex _ _ . 1930 A. S. Cleveland Houston, Tex._ _ __ _. 1931 J J Culbertson Paris, Tex 1932 Class C: S. B. Perkins .. . Dallas, Tex 1930 C. C. Walsh - do -. 1931 E R. Brow a do 1932 EL PASO BRANCH J. L. HERMANN, Managing Director J. L Hermann - - ElPaso,Tex 1930 A. J. Crawford .. . - - - Carlsbad, N. Mex _._ 1930 George D. Florv. _ El Paso, Tex... _ _ __ 1930 C M Newman - - - do 1931 E. M. Hurd -- ._._.. .-_ do 1931 A. P. Coles _- --- ... .do — 1932 A. F. Jones Portales, N. Mex 1932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

287 GOVERNORS AND DIRECTORS DISTRICT NO. 11.—FEDERAL RESERVE BANK OF DALLAS—Continued HOUSTON BRANCH W. D. GENTRY, Managing Director Term Director Residence expires Dec. 31 W. D. Gentry ---. Houston, Tex 1930 E. A. Peden - do 1930 Fred W. Catterall Galveston, Tex 1930 Guy M. Bryan _ Houston, Tex 1931 R. M. Farrar - do 1931 N. E. Meador do — 1932 J. Cooke Wilson Beaumont, Tex _ 1932 SAN ANTONIO BRANCH M. CRUMP, Managing Director M. Crump San Antonio, Tex_. 1930 John M. Bennett. do- 1930 R. T. Hunnicutt.. Del Rio, Tex 1930 Reagan Houston.. San Antonio, Tex. 1931 W.P.Napier do 1931 Frank G. Crow... McAllen, Tex 1932 Franz C. Groos... San Antonio, Tex. 1932 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: Vacancy 1930 C. K. Mclntosh - San Francisco, Calif.. 1931 T. H. Ramsay do 1932 ClassB: Malcolm McNaghten. Los Angeles, Calif 1930 E. H. Cox _- Madera, Calif 1931 A. B. C. Dohrmann... San Francisco, Calif.. 1932 Class C: Walton N. Moore .do.. 1930 William Sproule _do.. 1931 Isaac B. Newton ..do.. 1932 PORTLAND BRANCH R. B. WEST, Managing Director R.B.West Portland, Oreg _ | 1930 Edward C. Pease - The Dalles, Oreg I 1930 John F. Daly Portland, Oreg | 1930 Nathan Strauss... do I 1931 J. C. Ainsworth... do _ l 1931 SEATTLE BRANCH C. R. SHAW, Managing Director C. R. Shaw Seattle, Wash... 1930 Henry A. Rhodes. Tacoma, Wash.. 1930 M. F. Backus Seattle, Wash... 1930 Chas. H. Clarke. .do 1931 M. A. Arnold... I I "III_III_III_I do. 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

288 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 12.—FEDERAL RESERVE BANK OF SAN FRANCISCO—Continued SPOKANE BRANCH D. L. DAVIS, Managing Director Term Director Residence expires Dec. 31 D.L.Davis Spokane, Wash 1930 Peter McGrego: Hooper, Wash . 1930 R. L. Rutter .. . Spokane, Wash 1930 G. I. Toevs do 1931 D. W. Twohy do 1931 SALT LAKE CITY BRANCH W. L. PARTNER, Managing Director W. L. Partner.- Salt Lake City, Utah. 1930 G. G. Wright do 1930 E. O. Howard do 1930 Lafayette Hanaiett. do 1931 H. E. Hemingway.. Ogden, Utah.. 1931 LOS ANGELES BRANCH W. N. AMBROSE, Managing Director W.N.Ambrose - - Los Angeles, Calif. 1930 J.B.Alexander ... do 1930 Henry M. Robinson - do 1930 C. B. Voorhis- | Pasadena, Calif. 1931 F. J. Belcher, jr ..I San Diego, Calif. 1931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 289 SALARIES OF OFFICERS AND EMPLOYEES OF FEDERAL RESERVE BANKS ALL FEDERAL RESERVE BANKS AND BRANCHES COMBINED Number Annual salaries 1930 1929 1930 1929 Officers: Chairman and Federal reserve agent 12 12 $278,000 $278,000 Governor 12 12 355,000 355,000 Other officers _ 247 241 2,070,840 2,006,350 Employees, by departments: Banking department 8,623. 5 i, 978. 713,112,875 13,212,434 Federal reserve agent's department.. 293.4 278.9 691, 833 664,674 Auditing department 192.5 194.5 439,400 439,886 Fiscal agency department 228.6 268.9 453, 942 509, 888 Total. 9,609 17,401,890 17,466,232 FEDERAL RESERVE BANK OF BOSTON Officers: Chairman and Federal reserve agent 1 $20,000 $20,000 Governor. _ 1 30,000 30,000 Other officers .... 8 78, 750 78, 750 Employees, by departments: Banking department 648 707 896, 940 931,050 Federal reserve agent's department.. 29 29 71,560 69,310 Auditing department 10 10 24, 760 24,400 Fiscal agency department 17 23 38,260 47, 700 Total 714 779 1,160, 270 1,201,210 FEDERAL RESERVE BANK OF NEW YORK (INCLUDING BUFFALO BRANCH) Officers: Chairman and Federal reserve agent 1 1 $50,000 $50,000 Governor 1 1 50,000 50,000 Other officers. _ 34 29 459,150 426,100 Employees, by departments: Banking department 2,240 2,282 3,627,064 3, 556, 932 Federal reserve agent's department.. 69 64 170,380 149,100 Auditing department.. 40 39 85, 500 84,190 Fiscal agency department 30 35 66,270 74, 710 Total,. _ 2,415 2,451 4,508,364 4,391,032 FEDERAL RESERVE BANK OF PHILADELPHIA Officers: Chairman and Federal reserve agent 1 1 $20,000 $20, 000 Governor- ... 1 1 30,000 30, 000 Other officers 9 10 85, 000 93,000 Employees, by departments: Banking department 610 627 878,110 901, ioe Federal reserve agent's department.. 37 31 80,836 70,852 Auditing department 25 25 55, 330 54, 550 Fiscal agency department 13 17 23,496 29, 64& Total 712 1,172,772 j 1,199,154 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

290 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE BANK OF CLEVELAND (INCLUDING CINCINNATI AND PITTSBURGH BRANCHES) Number Annual salaries 1930 1929 1930 1929 Officers: Chairman and Federal reserve agent 1 1 $20,000 $20,000 Governor 1 1 30,000 30,000 Other officers.. 19 19 172,300 167,800 Employees, by departments: Banking department 805.5 822.5 1, 288,444 1, 264,582 Federal reserve agent's department.. 24 25 54,912 62,242 Auditing department 20.5 20.5 59,300 58,036 Fiscal agency department 20 25 40,982 48,260 Total 891 914 1,665,938 1, 650,920 FEDERAL RESERVE BANK OF RICHMOND (INCLUDING BALTIMORE AND CHARLOTTE BRANCHES) Officers: Chairman and Federal reserve agent 1 1 $20,000 $20,000 Governor. _ 1 25,000 25,000 Other officers.. 17 j 17 141, 300 135,200 Employees, by departments: Banking department 512 I 528 702,802 713, 558 Federal reserve agent's department.. 9 26,810 25,820 Auditing department. _ 6 14,820 14,460 Fiscal agency department.. 12 12 16, 770 16,560 Total 558 ! 574 947, 502 950, 598 FEDERAL RESERVE BANK OF ATLANTA (INCLUDING BIRMINGHAM, JACKSONVILLE, NASHVILLE, AND NEW ORLEANS BRANCHES AND HAVANA AND SAVANNAH AGENCIES) Officers: Chairman and Federal reserve agent. 1 1 $20,000 $20,000 Governor. 1 1 25,000 25,000 Other officers. 31 30 184,940 181,800 Employees, by departments: Banking department. 364.4 373.1 479,475 483,800 Federal reserve agent's department.. 6.9 6.9 15,675 18,150 Auditing department 10 10 21,610 22,410 Fiscal agency department 8.7 12 15, 290 15,150 Total. 423 434 761,990 766,310 "I 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 29 257, 000 253,200 Employees, by departments: Banking depsxtment 1,202 1,314 1,857, 582 1,945,722 Federal reserve agent's department 36 33 74,230 69,620 Auditing department 21 22 48,020 49,240 Fiscal agency department 43 48 86,640 94,900 Total 1,334 1,448 2, 382,472 2,471, 682 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK SALARIES 291 FEDERAL RESERVE BANK OF ST. LOUIS (INCLUDING LITTLE ROCK, LOUISVILLE, AND MEMPHIS BRANCHES) Annual salaries Officers: Chairman and Federal reserve agent Governor Other officers Employees, by departments: Banking department Federal reserve agent's department. Auditing department Fiscal agency department Total FEDERAL RESERVE BANK OF MINNEAPOLIS (INCLUDING HELENA BRANCH) Officers: Chairman and Federal reserve agent 1 1 $20,000 $20,000' Governor.. _ 1 1 25,000 25,000 Other officers. __. 12 12 79,100 73,300 Employees, by departments: Banking department _ 230.5 241 361,078 365,812' Federal reserve agent's department . 11.5 11 27,830 24,360 Auditing department 11 10 25, 200 22,5001 Fiscal agency department 12 13 23, 800 24,090 Total _ 279 289 562,008 555,062 FEDERAL RESERVE BANK OF KANSAS 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 20 20 148,000 145,200 Employees, by departments: Banking department.- _ 523.1 536.1 i 777, 744 784,158 Federal reserve agent's department _. 11 12 i 23,500 27,140 Auditing department 17 17 ( 37,080 36,360 Fiscal agency department 25.9 26.9 48, 994 49,682' Total. 599 614 1,080,318 1,087,540 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 19 18 130,900 124, 500' Employees, by departments: Banking department 349 359 550, 800 546,090 Federal reserve agent's department. _ 17 14 46,080 37,140 Auditing department _. 13 14 31, 260 32, 660 Fiscal agency department 14 18 31,060 37,540: Total. 414 425 ! 835,100 822,840 FEDERAL RESERVE BANK OF SAN FRANCISCO (INCLUDING LOS ANGELES, PORTLAND, SALT LAKE CITY, SEATTLE AND SPOKANE BRANCHES) Officers: Chairman and Federal reserve agent 1 $24, 000 $24,000' Governor 1 30, 000 30,000 Other officers 29 196, 800 194, 600 Employees, by departments: Banking department 691 728 1.107,540 1,122, 450' Federal reserve agent's department.. 27 29 62,160 70,920 Auditing department 7 8 16,020 18,720 Fiscal agency department - 13 18 27,540 34,830 Total 768 1,464, 060 1,495,520 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

292 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD STATE BANK AND TRUST COMPANY MEMBERS The following is a list of 1,019 State bank and trust companyactive members of the Federal reserve system on December 31, 1930, with their loans, investments, deposits, capital, and surplus: [Figures of "loaas" include overdrafts and rediscounts, but exclude acceptances of other banks and bill of exchange sold with indorsement] [In thousands of dollars] Invest- Total ments deposits Capital Surplus DISTRICT NO. 1 CONNECTICUT Bristol—Bristol-American Bank & Trust Co 3,962 442 3,743 300 300 Hartford—Phoenix State Bank & Trust Co 21,500 774 27,705 1,600 2,400 South Manchest3r—Manchester Trust Co 1,676 104 1,583 200 100 Waterbury—Colonial Trust Co 1,656 7,530 1,000 2,500 MAINE Ellsworth—Unicn Trust Co 1,814 1,792 3,562 100 100 Sanford—Sanford Trust Co 1,232 2,044 100 100 MASSACHUSETTS Arlington—Menotomy Trust Co__ 3,531 954 4,518 200 200 Boston- Bank of Commerce & Trust Co.- 6,344 1,221 7,325 1,000 380 Day Trust Co 2,230 4,197 4,848 2,500 265 Exchange Trust Co 13,050 5,783 17,814 1,500 1,500 New England Trust Co 21,192 7,527 31,830 1,200 2,800 Old Colony Trust Co.._ 13,887 5,770 10,300 5,000 5,000 State Street Trust Co 54,953 3,321 66,789 3,000 3,500 United States Trust Co 10,220 10,724 16, 565 2,500 3,000 Cambridge- Harvard Trust Co 14,069 4,933 18,480 1,000 1,050 Inman Trust Co 3,184 773 3,864 200 150 Fall River—B. M. C. Durfee Trust Co.__ 7,477 2,752 10,219 1,200 800 Gloucester—Gloucester Safe Deposit & Trust Co. 4,214 748 4,910 200 200 Greenfield—Fraaklin County Trust Co 5,067 729 5,198 400 200 Lawrence—Merchants Trust Co 5,471 1,699 7,927 300 300 Lynn- Sagamore T::ust Co 1,910 2,623 200 100 Security Trust Co 6,359 1,205 7,461 200 300 Newton—Newton Trust Co _ 10,975 5,465 14, 725 1,000 1,000 Norwood—Norwood Trust Co 3,427 2,512 5,554 300 300 Quincy—Quincj' Trust Co.__ _. 4,465 1,336 5,714 300 300 Salem—Naumkoag Trust Co 3,725 1,948 5,682 250 350 Waltham—Wall ham Trust Co 6,638 1,606 8,086 400 400 Winchester—Winchester Trust Co 1,150 I 1,194 2,079 100 |100 Worcester—Worcester Bank & Trust Co 21,194 ! 17,202 34,291 3,800 3,800 NEW HAMPSHIRE Conway—Carroll County Trust Co 837 I 1,176 75 25 RHODE ISLAND Providence- Columbus Exchange Bank 1,811 1,271 2,948 200 Industrial Trust Co. 83,799 55,091 137,956 4,000 7,500 Rhode Island Hospital Trust Co. 55,397 52,506 100,650 5,000 10,000 Union Trust Co 17,957 7,581 26,473 1,000 1,000 DISTRICT NO. 2 NEW JERSEY (See also District No. 3) Asbury Park—Neacoast Trust Co.. 4,217 1,497 5,636 500 500 Bayonne—Bayonne Trust Co 7,445 1,860 10,048 400 600 Bloomfield— Bloomfield Bank & Trust Co.. 8,267 5,806 14, 591 1,250 850 Community Trust Co 863 235 1,102 100 50 Watsessing Bank 2,381 993 3,515 200 100 Bogota—Bank of Bogota 817 737 1,567 100 75 Boonton—Boon ton Trust Co 1.350 454 1,680 100 100 Carteret—Carteret Trust Co 681 605 1,209 100 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 293 [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 2—Continued NEW JERSEY—continued Cranford—Cranford Trust Co 2,010 1,007 3,144 200 200 Dunellen—Peoples Trust Co 450 196 631 100 50 East Orange— East Orange Trust Co 1,122 267 1,511 200 50 Savings Investment & Trust Co 16,567 6,128 23,644 1,500 1,800 Elizabeth- Central Home Trust Co.- - 3,145 2,112 5,156 500 250 Elizabethport Banking Co 6,112 1,570 6,701 500 500 Peoples Banking & Trust Co— 4,072 2,820 7,256 350 250 Fort Lee—Fort Lee Trust Co _ 813 249 1,125 100 60 Franklin—Sussex County Trust Co — 1,066 1,615 2,685 100 100 Glen Ridge—Glen Ridge Trust Co 1,636 1,093 2,860 200 50 Hackensack— Peoples Trust & Guaranty Co... 10,961 4,264 11,825 1,000 650 State Bank & Trust Co -- 130 240 288 100 50 Hasbrouck Heights—Bank of Hasbrouck Heights.. 685 337 1,019 75 75 Hoboken—Jefferson Trust Co 1,101 7,185 800 400 Jersey City- Commercial Trust Co _ -- 42,860 23,283 70,550 3,400 6,600 New Jersey Title Guarantee & Trust Co 28,740 7,209 23,865 2,000 2,000 Linden—Linden Trust Co - 838 481 1,350 200 50 Montclair— Bank of Montclair. 3,740 3,746 6,414 500 300 Montclair Trust Co 9,045 3,541 12,023 1,250 750 Morristown—Morristown Trust Co 3,963 5,356 10,148 1,000 800 Newark- Clinton Trust Co 6,503 2,258 8,115 700 1,000 Columbus Trust Co - 832 428 1,442 400 200 Federal Trust Co - -. 29,129 9,106 44,441 4,056 3,000 Fidelity Union Trust Co 66,444 64,565 143,069 6,667 7,000 Franklin-Washington Trust Co 10,311 1,744 12,623 1,200 500 Merchants & Newark Trust Co 15, 998 7,688 21, 771 2,500 2,500 United States Trust Co 2,638 882 2,686 600 820 Nutley—Bank of Nutley 1,934 723 2,972 200 125 Orange—Trust Co. of Orange 1,573 772 1,545 700 250 Passaic—Peoples Bank & Trust Co 9,439 3,070 11,388 850 1,000 Paterson—Hamilton Trust Co 6,206 4,857 11,839 750 750 Perth Amboy— Perth Amboy Trust Co 5,535 2,526 9,843 300 500 Raritan Trust Co 1,277 232 1,961 200 150 Plainfield— Guaranty Trust Co _ 1,032 269 1,354 250 50 Mid-City Trust Co 1,049 449 1,277 200 80 Plainfield Trust Co _ — 15,067 5,754 21,462 650 1,000 Rahway—Rahway Trust Co --. 854 649 1,153 200 100 Ridgefield Park— Overpeck Trust Co 1,068 371 1,447 150 50 Ridgefleld Park Trust Co__ 1,606 829 2,477 100 100 Rochelle Park—Rochelle Park Bank 85 349 360 50 28 Rutherford—Rutherford Trust Co 2,277 1,594 3,128 250 550 South Orange—South Orange Trust Co 1,048 361 1,252 225 113 Westfield- Peoples Bank & Trust Co 4,117 4,761 200 300 Westfield Trust Co 3,508 1,310 4,885 300 200 West Orange—West Orange Trust Co 843 396 250 75 Westwood—Westwood Trust Co _ 1,057 361 200 125 NEW YORK Adams—Citizens Trust Co 1,396 275 1,515 150 75 Albany—First Trust Co 19,051 8,922 37,454 1,000 1,000 Albion—Orleans County Trust Co 891 295 1,134 100 100 Amsterdam—Montgomery County Trust Co.. 3,845 1,888 4,621 200 600 Avoca—Bank of Avoca _ _. 276 372 573 50 50 Batavia—Genesee Trust Co__ 1,711 939 2,499 100 100 Belmont—State Bank of Belmont 415 105 493 50 100 Binghamton—Peoples Trust Co 7,089 2,821 9,884 500 500 Blasdell—Bank of Blasdell 275 15 294 30 11 Brooklyn- Brooklyn Trust Co... 72 398 47,461 131,883 8,200 18,000 Globe Bank & Trust Co Mil 2, 655 8,118 1, 525 875 Midwood Trust Co 8,138 1,311 10,851 1,000 400 Buffalo- Liberty Bank of Buffalo 64,400 29,443 95,101 5,500 10,000 M. & T. Trust Co 42, 069 126,144 6,000 20,000 Marine Trust Co 159, 509 64, 735 229,466 10,000 10, 000 Canisteo—First State Bank.. 421 109 486 50 36 Chatham—State Bank of Chatham 1,224 1,607 2,685 100 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

294 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 2—Continued NEW YOKK—continued Cohocton—Cohocton State Bank 347 156 551 50 25 Depew—Bank of Depew _ 830 864 1,466 100 100 Dunkirk—Dunkirk Trust Co 1,454 974 2,422 250 125 East Aurora—Bank of East Aurora 2,682 532 3,246 175 75 Elmira— Chemung Canal Trust Co 7,252 5,221 11, 756 800 1,700 Endicott— Endicott Trust Co _ 2,805 1,334 4,052 100 100 Union Trust Co... - 761 974 1,558 100 100 Farmingdale—Bank of Farmingdale 635 415 1,088 75 65 Floral Park—Floral Park Bank _ 2,090 766 2,668 100 50 Fredonia—Citizens Trust Co 1,374 752 2,062 200 150 Geneva—Geneva Trust Co 3,092 1,466 4,676 250 200 Gloversville—Trust Co. of Fulton County 2,276 451 2,137 350 250 Hamburg—Peoples Bank of Hamburg 1,635 838 2,493 100 170 Hammondsport—Bank of Hammondsport 703 381 1,017 50 100 Hicksville—Bank of Hicksville 1,918 932 2,963 100 250 Ithaca—Ithaca Trust Co - 5,229 2,714 7,654 400 400 Johnson City—Workers Trust Co 2,681 2,326 4,757 200 200 Katonah—Northern Westchester Bank 632 831 1,386 100 50 Kingston—Kir gston Trust Co 5,478 4,441 9,284 250 700 Lackawanna—American Bank _., 920 900 1,861 100 80 Little Falls—Eerkimer County Trust Co 2,357 3,491 5,438 350 350 Lowville—Lewis County Trust Co 1,456 1,265 2,724 200 100 Malone—Peoples Trust Co ._ 2,939 1,168 3,747 300 200 Mayville—State Bank of Mayville 511 644 1,158 50 100 Middleport—Community Trust Co 455 242 585 100 25 Millbrook—Bank of Millbrook 839 1,394 2,384 100 50 Mineola—Nassau County Trust Co 2,560 2,075 5,063 300 200 Mount Kisco—Trust Co. of Northern Westchester_. 825 326 1,117 100 25 Mount Vernorj—Fleetwood Bank 551 323 817 200 90 New York- Amalgamated Bank 4,963 5,392 10,358 650 350 American Jnion Bank- 10,122 1,698 8,620 2,000 1,000 Bankers Trust Co 451,324 104,871 583,080 25,000 50,000 Bank of Europe Trust Co 6,817 13,836 1,000 500 Bank of Manhattan Trust Co 248,832 93,610 469,094 22,250 40,000 Bank of Naw York & Trust Co 56,812 25,524 103,462 6,000 8,000 Bank of Yorktown 4,902 739 5,201 1,500 500 Broadway & Plaza Trust Co 5,933 2,059 7,218 1,350 1,800 Central Hanover Bank & Trust Co ._ 377,000 179,379 659,517 21,000 60,000 Chemical IBank & Trust Co 240,969 63,190 357, 251 21,000 40,000 Continental Bank & Trust Co 18,639 9,812 24,904 6,000 10,000 Corn Exchange Bank Trust Co - 127,067 85,477 243,215 15,000 30,000 Federation Bank & Trust Co 9,232 6,503 15,847 750 750 Fifth Avenue Bank 22,481 5,362 31,053 500 2,000 Fulton Trust Co__ - 13, 648 5,822 18,258 2,000 2,000 Guaranty Trust Co - 867,421 293,533 1,198,738 90,000 170,000 Harbor State Bank 525 1,447 1,806 200 300 International Madison Bank & Trust Co 8,244 1,650 7,511 1,750 1,450 International Trust Co 7,954 1,984 10,194 3,200 1,600 Irving Trust Co 367, 746 155,946 618,804 50,000 65,000 Manufacturers Trust Co ..- 184,365 42,520 212, 720 27,500 5,500 Marine Midland Trust Co. _ 42,493 21,042 62,455 10,000 8,000 Merchants Bank 1,143 563 1,684 400 150 New York Trust Co - 146,000 96,635 325,011 12,500 30,000 J. Henry Schroder Trust Co 809 3,177 3,509 700 350 Times Square Trust Co 4,300 591 2,166 1,000 1,000 Trade Bank of New York 4,844 1,028 5,106 660 360 United States Trust Co — 48,006 20, 606 57,777 2,000 20,000 Niagara Falls—Power City Trust Co 22,696 10,751 31,533 4,000 1,800 Nyack—Rockland County Trust Co 2,707 936 3,525 200 200 Olean—Olean Trust Co 982 462 1,247 100 50 Oneida—Madison County Trust & Deposit Co 1,969 1,252 3,229 200 120 Orchard Park—Bank of Orchard Park _ 785 492 1,188 60 60 Oriskany Falls—First Trust & Deposit Co 594 524 914 100 50 Pearl River—State Bank of Pearl River 168 197 347 100 25 Perry—Citizens Bank _ — 734 270 1,122 50 100 Pleasant ville—Mount Pleasant Bank & Trust Co— 2,720 611 3,256 200 100 Port Chester—Mutual Trust Co. of Westchester Co. 4,408 1,133 4,992 300 200 Rochester—Li ncoln-Alliance Bank & Trust Co 46, 611 11,054 64,514 2,000 3,000 Rome—Rome Trust Co 4,058 2,413 6,889 300 300 Scarsdale—Ca eb Heathcote Trust Co 1,029 1,096 1,944 200 200 Schenectady— Schenectady Trust Co..- 12, 694 5,578 18,826 750 1,000 Smithtown Branch—Bank of Smithtown. 803 532 1,398 50 50 Spring Valley—Ramapo Trust Co 969 494 1,132 200 75 Stony Brook-Bank of Suffolk County 537 276 783 | 50 25 Syracuse- First Trust & Deposit Co 74,804 12,879 i 81,625 ! 5,400 5,400 Syracuse Trust Co... - 25,909 14,304 ' 37,034 i 2,500 2, 750 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 295 [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 Surplus DISTRICT NO. 2—Continued NEW YORK—continued Utica— Citizens Trust Co... 18,816 6,841 23,856 1,625 1,625 First Bank & Trust Co. of Utica 18,841 7,402 22,492 1,500 1,500 Utica Trust & Deposit Co — 12,821 2,954 14,219 500 500 Warsaw—Trust Co. of Wyoming County 715 507 1,150 100 50 Watertown—Northern New York Trust Co 7,241 2,591 9,242 500 500 Westbury—Bank of Westbury Trust Co 1,134 865 2,232 100 50 White Plains—County Trust Co ___ 9,348 1,660 10, 256 500 1,500 Williamsville—Amherst Bank 820 1,019 1,653 100 30 DISTRICT NO. 3 DELAWARE Wilmington- Equitable Trust Co - 11,193 1,312 10,170 1,500 2,100 Industrial Trust Co - 3,265 1,582 3,082 1,250 400 Security Trust Co - 8,576 2,931 10,178 1,121 1,500 Wilmington Trust Co 28,258 3,570 24,609 4,000 10,000 NEW JERSEY (See also District No. 2) Atlantic City- Atlantic Safe Deposit & Trust Co 4,065 2,073 5,570 300 600 Equitable Trust Co 3,003 1,437 4,194 200 400 Burlington—Burlington City Loan & Trust Co 971 1,426 2,262 100 300 Camden— Camden Safe Deposit & Trust Co __. 17,232 11, 397 27, 775 1,200 3, 600 Hightstown—Hightstown Trust Co 867 260 1,007 100 50 Princeton—Princeton Bank & Trust Co... 3,475 812 4,676 300 300 Riverside—Riverside Trust Co... _ 1,259 226 2,161 100 185 Swedesboro—Swedesboro Trust Co _. 623 273 880 100 65 Wild wood—Wild wood Title & Trust Co 795 619 915 100 150 PENNSYLVANIA (See also District No. 4) Allentown— Dime Savings & Trust Co.. 1,760 821 2,006 500 450 Liberty Trust Co 4,561 1,193 1,430 653 806 Penn Trust Co 2,531 801 2,907 400 550 Auburn—Bank of Auburn 104 551 609 50 50 Bloomsburg—Bloomsburg Bank-Columbia Trust Co. 1,578 960 2,529 375 125 Carlisle—Carlisle Trust Co 2,598 664 1,993 250 250 Chester—Chester-Cambridge Bank & Trust Co 7,862 3,169 9,779 1,050 1,850 Danville—Montour County Trust Co 261 377 577 125 35 Du Bois—Union Banking & Trust Co 1,490 1,067 1,832 250 600 Easton—Easton Trust Co - 6,385 1,728 7,058 250 1,100 East Petersburg—East Petersburg State Bank 199 82 222 50 25 Egypt—Farmers Bank of Egypt _ _ 431 275 585 60 100 Frackville—Peoples Trust Co 311 237 506 125 65 Glenside—Glenside Bank & Trust Co 2,502 370 2,785 300 200 Harrisburg— Central Trust Co 5,920 1,511 3,556 400 800 Dauphin Deposit Trust Co 3,210 1,467 5,204 300 600 Hazleton— American Bank & Trust Co 3,490 1,792 5,246 400 500 Markle Banking & Trust Co 4,702 3,136 6,912 600 1,500 Peoples Savings & Trust Co 2,389 2,518 250 500 Honesdale—Wayne County Savings Bank 1,897 3,153 4,305 250 1,000 Houtzdale—Houtzdale Trust Co _ 281 534 607 125 100 Huntingdon—Grange Trust Co 579 448 909 125 90 Jenkintown—Jenkintown Bank & Trust Co__ 4,825 5,248 8,220 375 2,000 Kulpmont—Dime Deposit Bank & Trust Co 562 364 777 125 125 Lansdale—Lansdale Title & Trust Co 367 207 539 125 33 Lemoyne—Lemoyne Trust Co 2,651 535 1,098 200 200 Le wisto wn—Le wisto wn TrustCo 750 229 663 125 75 Lock Haven—Lock Haven Trust Co 1,814 1,013 2,435 250 500 Luzerne—Merchants & Miners State Bank 260 83 414 50 12 Lykens—Miners Deposit Bank & Trust Co 712 749 1,338 135 135 Mahanoy City—Merchants Banking Trust Co 1,050 720 1,534 200 250 Middletown—Citizens Bank & Trust Co 589 279 650 125 125 Mount Carmel—Liberty State Bank & Trust Co.... 791 777 1,355 150 200 Myerstown—Myerstown Trust Co 711 401 784 125 150 Nanticoke— Miners Trust Co 1,590 1,554 2,537 300 750 Peoples Savings & Trust Co 424 552 880 180 36 New Oxford—Farmers & Merchants Bank__ 474 416 774 50 100 33454—31 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

296 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD [In thousands of dollars] I m nv e e n s ts t- de T p o o t s a i l ts Capital Surplus DISTRICT NO. 3-Continued PENNSYLVANIA—continued Norristown— Montgomery Trust Co 4,077 2,764 5,959 1,000 1,000 Norristown-Penn Trust Co 7,166 3,929 8,619 1,250 1,500 Olyphant— Miners Savings Bank & Trust Co_ 1,803 2,261 3,589 350 350 Olyphant Bank 1,424 1,662 2,813 100 300 Orrstown—Orrstown Bank 254 57 229 35 55 P P a h o i l l i a — de P l a p o h li i a B - ^nk & Trust Co 374 280 503 125 75 Fidelity Philadelphia Trust Co 63,904 58, 206 109, 536 6,700 21,000 Girard Trust Co... 35,120 44,084 75,194 4,000 16,000 Integrity Trust Co 50,991 18, 265 60, 767 2,988 14,000 Ninth Bank & Trust Co 17, 201 22, 937 1, 375 2,700 North City Trust Co 1,263 996 500 210 Pennsylvar ia Co. for Insurances on Lives, etc- 154, 513 56,169 228, 678 8,232 34,000 Provident Trust Co... 21,611 20, 535 27, 241 3,200 12, 260 Prospect Park—Interboro Bank & Trust Co 741 336 929 125 88 Quakertown—Quakertown Trust Co 601 715 1,121 125 275 Reading—Berks County Trust Co 5,704 1,917 5,701 1,000 1,250 Schnecksville—Schnecksville State Bank 49 131 180 25 15 Schuylkill Havijn—Schuylkill Haven Trust Co.-. 1,272 1,042 2,205 125 350 Scranton—Dime Bank-Lincoln Trust Co 12, 667 4,375 16, 607 1,500 1,500 Shamokin— Dime Trusi; & Safe Deposit Co _ 1,319 672 1,908 125 300 Shamokin Banking & Trust Co.- 650 651 1,117 125 125 Steelton—Steelton Bank & Trust Co 1,253 1,229 2,078 350 350 Tamaqua—Peoples Trust Co _ 930 556 1,243 150 225 Temple—Temple State Bank 192 251 377 75 15 Wilkes-Barre— Dime Bank Title & Trust Co.-_ 3,523 765 3,068 500 1,000 Union Saviags Bank & Trust Co 1,320 1,189 1,941 500 375 Wilkes-Barre Deposit & Savings Bank 3,480 2,479 5,239 499 1,693 Williamsport— Lycoming Trust Co 7,886 3,428 11, 078 2,000 500 Susquehanna Trust Co ... _ 2,759 1,606 3,334 500 700 Williamstown—Williams Valley Bank ... 539 321 857 50 75 Wyomissing—Peoples Trust Co __. 3,534 1,335 3,180 500 400 York- Guardian Trust Co __ 2,113 1,862 3,197 500 700 North York State Bank. 199 252 398 40 20 York Trust Co 6,247 2,050 7,353 750 1,500 DISTRICT NO. 4 KENTUCKY (3ee also District No. 8) Lexington—Security Trust Co 1,784 1,005 3,198 500 150 Richmond—State Bank & Trust Co 1,017 1,005 150 55 OHIO Akron- Central Depositors Bank & Trust Co 2,136 26, 516 2,750 2,250 Firestone Park Trust & Savings Bank... 4,129 1,502 5,929 200 300 First-City Trust & Savings Bank.. 32, 875 7,056 39, 285 3,500 3,000 Alliance—City Savings Bank & Trust Co 2,640 779 3,590 250 125 Apple Creek—Apple Creek Banking Co 148 21 146 25 19 Atwator—Atwater Savings Bank Co 164 64 241 25 8 Barberton—Peoples Savings & Banking Co 1,520 204 2,008 100 85 Bellevue—Union Bank & Savings Co 1,403 530 1,860 150 100 Bowling Green—State Bank of Bowling Green 592 118 594 100 24 Canton—Dime Savings Bank Co 5,625 3,408 9,649 500 250 Chagrin Falls—Chagrin Falls Banking Co 1,888 1,072 2,806 100 200 •Cincinnati- Central Trust Co _ 47, 745 12, 743 63, 219 4,000 3,650 Fifty-Third Union Trust Co._ 55, 936 27, 395 85, 612 5,000 5,000 Provident Savings Bank & Trust Co. 22, 684 8,289 36,499 1,700 2,300 Western Benk & Trust Co 10,691 3,315 14,110 1,250 1,250 Cleveland- Cleveland Trust Co _ 221,987 35, 217 280,606 13,800 9,200 Guardian Trust Co - 111,548 39, 600 157,190 7,000 9,000 Midland Bank.. 27, 731 12,405 41,158 4,000 2,000 Union Trust Co 205,154 50, 037 301,636 22,850 12,150 Columbiana—Union Banking Co 462 144 657 50 60 €olunibus—First-Citizens Trust Co 20,461 8,074 33, 277 2,500 1,500 Conneaut— Citizens Banking & Trust Co. ,~. 570 397 967 125 22 Conneaut Mutual Loan & Trust Co 1,392 1,191 2.750 125 125 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 297 [In thousands of dollars! Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 4—Continued OHIO—continued I Danville—Commercial & Savings Bank Co 302 32 307 25 36 Dayton—Union Trust Co 23,278 3,412 30,785 1,500 1,700 Delphos—Peoples Bank 408 159 609 50 25 Delta—Peoples Savings Bank Co 452 222 598 25 45 Geneva—Geneva Savings & Trust Co 806 1,253 125 LOO Gibsonburg— Gibsonburg Banking Co 551 144 647 50 25 Home Banking Co 492 122 635 25 25 Hills'ooro—Hillsboro Bank & Savings Co 93 509 50 50 Hubbard—Hubbard Banking Co.. 134 871 50 50 Lyons—Farmers State Bank 222 13 220 25 8 Mansfield—Farmers Savings & Trust Co 1,938 758 i 2,657 225 283 Massillon—Ohio-Merchants Trust Co 3,519 703 | 3,926 1,000 250 McCutchenville—Farmers Bank 115 8 ; 101 30 4 Middlefleld—Middlefield Banking Co 356 48 486 25 30 Middletown—American Trust & Savings Bank 1,795 736 ; 2,734 150 Minerva- Minerva Banking Co 524 170 ! 658 I 50 32 Minerva Savings & Trust Co 770 239 993 ! 125 51 Minster—Minster State Bank 374 54 567 25 55 Napoleon—Napoleon State Bank. 2,183 169 | 2,335 100 50 Newark- Newark Trust Co 3,911 225 ! 4,082 200 200 Union Trust Co _ 4,836 1,341 ! 6,959 300 71 New Philadelphia- Merchants State Bank 521 502 150 42 Ohio Savings & Trust Co.. 1,228 509 I 1, 519 150 150 Newton Falls—First State Bank _._ 1,343 229 ! 1,276 125 65 Orrville—Orrville Savings Bank 510 213 I 706 50 52 Pomeroy—Farmers Bank & Savings Co 306 196 \ 568 50 29 Rittman—Rittman Savings Bank 161 I 570 60 St. Marys- American State Bank 92 I 408 50 10 Home Banking Co 784 1,171 100 42 Shelby—Citizens Bank.._ 745 1,383 100 60 Shiloh—Shiloh Savings Bank Co 280 37 | 294 25 40 Steubenville— Steubenville Bank & Trust Co.._ 2,721 881 j 3,528 650 204 Union Savings Bank & Trust Co 826 | 350 350 Toledo- Commerce Guardian Trust & Savings Bank 19,276 4,584 ! 26,417 1,400 1,200 Toledo Trust Co 29,653 13,790 | 44,937 5,000 3,000 Upper Sandusky—Citizens Savings Bank 424 145 I 507 50 50 Vermilion—Erie County Banking Co 482 165 i 653 50 25 Wakeman—Wakeman Bank Co 219 61 ! 279 25 15 Warren—Union Savings & Trust Co 2,818 528 | 3,790 550 350 Wellington—First Wellington Bank 946 119 950 100 100 Wooster—Commercial Banking & Trust Co 546 280 1,113 150 65 Youngstown— City Trust & Savings Bank... 15,737 1,487 16,586 1,000 1,150 Dollar Savings & Trust Co 20,340 2,115 22,264 2,500 1,250 PENNSYLVANIA (See also District No. 3) Aliquippa—Woodlawn Trust Co 1,570 521 I 1,972 125 200 Ambridge—Ambridge Savings & Trust Co 1,741 2,407 3,641 125 250 Beaver—Beaver Trust Co 1,473 447 I 1,467 300 200 Beaver Falls—Federal Title & Trust Co 1,060 248 ! 1,190 200 75 East Pittsburgh—East Pittsburgh Savings & Trust Co 2,082 2,575 5,204 300 300 Erie—Security-Peoples Trust Co 10,037 2,697 14,005 300 900 Greensburg— Merchants Trust Co _ 2,030 1,004 2,811 300 325 Union Trust Co.._ _ 1,969 421 2,401 400 100 Meadville—Crawford County Trust Co 1,569 930 2,500 250 250 New Brighton—Beaver County Trust Co 1,099 359 894 400 250 New Castle—Lawrence Savings & Trust Co 2,675 1,505 4,277 300 500 Paint Borough—Merchants & Miners Bank 199 228 30 40 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

298 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Total de- Capital Surplus posits DISTRICT NO. 4—Continued PENNSYLVANIA—continued Pittsburgh- Allegheny Trust Co 4,134 3,100 6,405 700 1,000 City Deposit Bank & Trust Co 12.069 5,007 16,356 1,000 1,000 Colonial Trust Co 19,105 8,148 26,032 2,600 3,000 Commonwealth Trust Co 10,598 4,076 13,830 1,500 1,700 Peoples-Pittsburgh Trust Co 50,866 36,780 80,002 5,456 15,000 Potter Title & Trust Co 5,546 3,914 9,403 500 '- 900 Union Trust Co 92,887 114,468 165,638 1,500 61,500 Washington— First Bank & Trust Co 5,287 868 5,370 600 I 600 Windber—Wmdber Trust Co 1,624 1,965 2,970 250 550 WEST VIRGINIA | (See also District No. 5) | Sistersville—First Tyler Bank & Trust Co | 1,863 49 1,649 200 100 Wheeling— I Security Trust Co -..j 3,059 1,227 3,679 300 300 Wheeling Bank & Trust Co j 6,439 728 7,108 500 500 DISTRICT NO. 5 \ MARYLAND Baltimore— B altimore 0 ommercial B ank 8,087 2,801 11, 581 1,000 350 Baltimore Trust Co___ 45,652 20,687 76,488 6,250 4,250 Maryland Trust Co 22,110 . 10,705 37, 581 2,500 2,00 Forest Hill—Forest Hill State Bank 225 105 323 25 25 Salisbury—Farmers & Merchants Bank. 1,352 152 1,436 100 100 NORTH CAROLINA Charlotte- American Trust Co 11,917 1,108 17, 553 l,2U0 800 Independence Trust Co 3,805 969 6,129 1,000 500 Edenton—Bank of Edenton 757 53 635 100 100 Washington—Bank of Washington 612 89 810 100 91 Winston-Salem—Wachovia Bank & Trust Co. 25,345 8,970 45, 328 2,500 2,000 SOUTH CAROLINA Bishopville— Peoples Bank 108 67 176 25 75 Charleston—Carolina Savings Bank. 1,563 1,569 3,223 200 150 Chester— Commercial Bank 604 189 921 100 100 Hartsville—Bank of Hartsville 586 68 973 75 43 Westminster— Westminster Bank_.. 324 32 375 50 5 Woodruff—Baiik of Woodruff 295 287 78 18 Blackstone— C Itizens Bank & Trust Co 668 66 677 100 70 Chase City—Peoples Bank & Trust Co 525 20 431 100 50 Galax—Peoples State Bank (Inc.) _ 439 7 399 50 31 Kenbridge—Bank of Lunenburg (Inc.).. _ 551 70 526 65 110 Petersburg—Petersburg Savings & American Trust Co. 2,731 1,079 3,120 750 250 Richmond- American Bank & Trust Co 16,519 4,129 17,466 3,500 1,000 Bank of Commerce & Trusts 4,602 455 4,336 600 600 Broadway Bank & Trust Co 976 574 1,772 300 30 State-Plam;ers Bank & Trust Co.. 20,287 8,072 32,558 2,500 1,500 Union BaEk & Federal Trust Co_ 2,468 607 2,443 750 150 Rural Retreat—Peoples Bank 134 2 116 35 WEST VIRGINIA (See also district No. 4) Berwind—Berwind Bank 1,074 397 1,562 100 100 Charleston— Kanawha Banking & Trust Co 3,012 562 2,871 500 250 Kanawha Valley Bank 7,941 3,250 11,810 1,000 1,200 Franklin— Farmers Bank of Pendleton 612 3 581 50 30 Franklin Bank 299 4 288 40 10 Grafton— Grafton Banking & Trust Co.. 678 151 911 100 30 Harpers Ferry—Bank of Harpers Ferry.. 126 53 198 25 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 299 [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 5—Continued WEST VIRGINIA—continued Hurricane—Putnam County Bank 387 23 353 50 20 Martinsburg— Peoples Trust Co 2,086 115 2,366 250 150 Moorefleld—Hardy County Bank 111 2 r89 50 Petersburg—Potomac Valley Bank 249 18 210 50 8 St. Marys—Pleasants County Bank 399 29 75 30 DISTRICT NO. 6 ALABAMA Birmingham- Birmingham Trust & Savings Co 14,041 1,845 18,735 1,000 1,200 Southern Bank & Trust Co 1,853 50 1,198 500 55 Clayton—Bank of Commerce 169 13 182 50 30 Evergreen—Peoples Bank 995 43 758 200 100 •Guin—-Marion County Banking Co 261 12 292 25 50 Marion—Marion Central Bank 413 102 455 50 100 Monroeville—Monroe County Bank 445 85 557 100 50 Roanoke—Merchants & Farmers Bank *._.. 519 3 391 75 15 Selma—Peoples Bank & Trust Co 910 10 906 10 100 FLORIDA Leesburg—Leesburg State Bank & Trust Co... 417 363 821 ioo ! 50 T M a a ll r a i h an as n s a e — e— Ci E ti x z c e h n a s n g S e ta B te a B nk ank 2 1 2 5 0 5 1 4 3 9 8 187 3500 50 West Palm Beach—Florida Bank & Trust Co. 65 263 294 100 50 GEORGIA Atlanta- Georgia Savings Bank & Trust Co 2,817 1,523 4,396 500 500 Trust Company of Georgia 9,855 180 6,094 2,000 2,000 Bainbridge—Citizens Bank & Trust Co 628 44 646 100 20 Brunswick—Brunswick Bank & Trust Co._. 918 315 1,156 230 117 •Carrollton—Peoples Bank.. 330 3 724 60 12 Claxton—Citizens Bank 93 1 108 30 6 Columbus—Columbus Bank & Trust Co 5,698 1,007 6,618 850 650 Commerce—Northeastern Banking Co 246 58 318 100 65 Dawson—Bank of Dawson 318 31 229 100 50 Eastman- Bank of Eastman 280 63 202 60 11 Citizens Banking Co... 267 25 118 100 Eatonton—Farmers & Merchants Bank _ 32 1 43 25 I. Greenville—Greenville Banking Co 335 14 318 95 ! 36 Jackson—Jackson Banking Co 93 36 125 50 ! 10 Jefferson—Citizens Bank & Trust Co 228 29 122 96 | 17 La Grange—La Grange Banking & Trust Co. 1,650 275 1,419 250 I 330 Lawrenceville—Brand Banking Co 342 131 643 50 i 50 Lincolnton—Farmers State Bank 117 16 129 25 | 15 Millen—Bank of Millen 254 13 391 50 I 50 Monroe— Bank of Monroe 342 120 358 150 I 75 Farmers Bank 176 177 393 100 | 30 Felham—Farmers Bank 282 40 359 100 I 50 Reynolds—Citizens State Bank 46 1 41 25 ! 5 Rhine—Rhine Banking Co 58 1 96 25 ! 6 Sasser—Bank of Sasser 2 63 25 I Savannah- I Citizens Bank & Trust Co 1,172 31 1,089 300 ! 75 Savannah Bank & Trust Co 2,631 64 2,428 700 I 200 Soperton—Bank of Soperton 179 5 219 25 ! 18 Statesboro—Bank of Statesboro 534 60 571 100 ! 75 Swainsboro—Central Bank.. 89 2 110 25 i 15 Wadley—Bank of Wadley 67 2 65 25 ! 25 LOUISIANA New Orleans- American Bank & Trust Co 9,215 3,062 13,823 1,000 500 Canal Bank & Trust Co 50,105 17,969 80,223 6,750 2,250 Hibernia Bank & Trust Co 31,709 11,153 56,031 2,500 3,000 Interstate Trust & Banking Co... 16,232 3,467 19,887 750 1,150 Opelousas—Parish Bank & Trust Co. 490 26 623 50 15 Figures as of Sept. 24, 1930. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

300 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD [ID thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 7 [See also district No. 8) Argenta—Gerber State Bank 164 2 175 25 11 Auburn—Auburn State Bank 407 122 563 50 21 Barrington—First State Bank 643 105 727 100 50 Chicago- Adams State Bank 660 1,183 2,127 200 75 Central Tnst Co 109,165 22,081 139, 713 12,000 8,000 Continental Illinois Bank & Trust Co 641, 276 269,576 924,088 75,000 65,000 Depositors State Bank 2,911 1,428 4,689 400 250* Drexel State Bank 4,039 1,436 6,167 500 350 Harris Trust & Savings Bank 57,497 40, 634 101,405 6,000 5,000 Kaspar American State Bank 4,757 7,526 12, 545 1,600 400 Mercantile Trust & Savings Bank 7,666 1,827 11, 823 600 400 Noel State Bank 6,524 552 7,530 1,000 400 Northern Trust Co _. 34,377 22,420 63, 216 3,000 6,000 Northwestern Trust & Savings Bank 10,087 5,154 15,991 1,250 600 Security Bunk of Chicago 5,727 2,533 8,226 700 600 Twenty-sixth Street State Bank 373 1,213 1,821 200 60 Woodlawn Trust & Savings Bank 5, 271 1,990 7,769 600 300 Cowden—State Bank of Cowden 211 1 211 25 10 Des Plaines—Des Plaines State Bank 1,055 463 1,579 200 125 Eureka—Farmers State Bank__ 254 508 50 30 Evanston— Evanston Trust & Savings Bank 1,717 1,038 3,019 200 150 State Bank & Trust Co 7,194 2,263 11, 848 500 500 Geneva—State Bank of Geneva _ 906 577 1,469 100 50 Hinsdale—Himsdale State Bank 702 395 1,103 100 25 Joliet—Joliet Trust & Savings Bank 1,510 845 2,490 100 100 Kewanee—Union State Savings Bank & Trust Co.. 796 321 1,154 150 26 Matteson—Finst State Bank of Mattesqn 157 3 127 25 25 Mattoon—Central Illinois Trust & Savings Bank.. 736 179 100 100 Oak Park- Oak Park Trust & Savings Bank 5,134 2,157 7,183 1,000 500 Suburban Trust & Savings Bank 1,150 1,475 2,563 200 200 Oswego—Oswego State Bank 190 17 158 25 21 P0I9—Polo State Bank 458 87 549 60 30 Springfield—Ridgely-Farmers State Bank 4,187 1,853 7,705 600 150 Stockland—Sumner State Bank 126 25 134 50 10 Wenona—First State Bank 373 480 839 50 50 Wheaton—Whiiaton Trust & Savings Bank 210 389 fOO 100 40 "Wilmette—Wilmette State Bank 1,483 1,314 2,929 200 200, [See also district No. S) Connersville—Fayette Bank & Trust Co 1,168 280 1,436 250 55- Elkhart—St. Joseph Valley Bank 2,776 1,476 4,366 250 200' Hammond—First Trust & Savings Bank 4,976 1,703 5,737 1,000 1,000 Indianapolis—Fletcher Savings & Trust Co._ 9,784 10,237 23, 946 1,500 1,500 Jamestown—Citizens State Bank 265 16 305 30 20 Richmond—Dickinson Trust Co 3,572 775 2,009 300 20a Rochester—United States Bank & Trust Co.. 457 143 656 75 25 South Bend- American Trust Co 5,015 476 4,961 500 160 St. Joseph Loan & Trust Co 3,370 1,611 3.865 800 200 Terre Haute—Terre Haute Trust Co 4,491 2,185 7,060 500 500- Tipton— Farmers Loan & Trust Co 591 4 597 50 50 IOWA Algona—Iowa kState Bank 440 404 1,024 50 35 Ames—Story County Trust & Savings Bank 515 91 646 50 22 Bennett—Bennett Savings Bank 271 106 376 50 5 Burlington—First Iowa State Trust & Savings Bank. 5,267 2,080 8,008 600 450 Chariton—State Savings Bank 623 138 819 50 50 Charter Oak—Farmers State Bank 369 37 409 40 12 Cherokee—Cherokee State Bank 954 266 1,473 75 75 Clinton—Peoples Trust & Savings Bank 3,128 999 4,437 300 200 Davenport—American Commercial & Savings Bank. 25,073 2,439 31, 254 1,500 1,000 Des Moines—E ankers Trust Co 5,448 1,691 1,000 200 Fairbank—Fairbank State Bank. 323 148 26 24 Fairfield—Iowa State Savings Bank 1,736 84 1,702 200 78 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

301 STATE BANK MEMBERSHIP [In thousands of dollars] Invest- Total Capital Surplus ments deposits DISTRICT NO. 7—Continued IOWA—continued Farragut—Commercial Sayings Bank 109 3 117 40 Fort Madison—Fort Madison Savings Bank 1,068 1,105 2,730 100 80 Gilbert—Gilbert Savings Bank 175 6 146 25 7 Gilman—Citizens Savings Bank 293 32 272 50 12 Greenfield—Greenfield Savings Bank 281 76 390 30 12 Low den—Lowden Savings Bank 231 94 342 25 15 Mechanicsville—Mechanicsville Trust & Savings Bank _ 240 211 493 50 25 Missouri Valley—State Savings Bank 197 27 250 50 10 Monticello—Monticello State Bank 2,442 401 2,741 200 200 Moorhead—Moorhead State Bank -. 269 2 289 30 30 Moville—Moville State Bank. 282 2 261 35 26 Newton—Jasper County Savings Bank 1,091 977 2,551 100 50 Osage—Home Trust & Sayings Bank 544 336 919 50 30 Ottumwa—Ottumwa Savings Bank 954 543 1,635 100 100 Riceville—Riceville State Bank _._ 116 1 123 25 15 Royal—Home State Bank 212 48 201 25 13 Shenadoah—Security Trust & Savings Bank 475 279 820 60 28 Solon—Ulch Brothers State Bank.. _ 497 91 620 50 15 Storm Lake—Security Trust & Savings Bank 287 104 435 50 13 MICHIGAN (See also District No. 9) Adrian- Adrian State Sayings Bank 776 1,032 1,925 150 100 Commercial Savings Bank__ 1,094 635 1,710 110 40 Lenawee County Savings Bank 1,259 823 2,257 150 Albion- Albion State Bank _ 373 295 629 50 17 Commercial & Savings Bank 679 344 982 100 55 Alpena—Alpena Trust & Savings Bank 2,212 1,507 3,533 200 200 Ann Arbor- Farmers & Mechanics Bank. 3,199 744 4,587 250 250 State Savings Bank 3,349 1,610 4,502 400 400 Armada- Armada State Bank _ 463 110 567 25 25 Farmers State Bank ___ 289 49 326 25 13 Bay City- Bay City Bank ___ 2,636 3,169 5,923 400 200 Peoples Commercial & Savings Bank 4,914 4,957 9,139 500 1,200 Bellevue—Farmers State Bank 68 71 134 25 5 Big Rapids- Big Rapids Savings Bank. 614 379 984 50 50 Citizens State Bank.__ __ 876 820 1,773 50 50 Birmingham—First State Savings Bank 2,188 586 2,537 200 150 Blanchard—Blanchard State Bank 139 139 300 25 7 Blissfield—Blissfield State Bank 550 256 878 50 30 Britton—Peoples State Savings Bank__ 139 89 225 25 5 Brown City—Brown City Savings Bank 254 111 434 25 6 Caledonia—State Bank of Caledonia 367 267 603 50 19 Caro—State Savings Bank__ 669 251 968 75 25 Carson City—Farmers & Merchants State Bank 150 87 220 25 11 Cass City— Cass City State Bank 348 211 544 40 20 Pinney State Bank 387 422 797 50 25 Cassopolis—Cass County State Bank 345 94 426 40 18 Center Line—Center Line State Savings Bank 728 272 895 60 60 Charlotte—Eaton County Savings Bank__ 385 475 858 100 50 Chelsea- Farmers & Merchants Bank 508 379 839 50 50 Kempf Commercial & Savings Bank. 493 188 657 60 40 Chesaning—Chesaning State Bank 1,151 519 1,704 75 75 Coopersville—Peoples Savings Bank 408 233 644 25 13 Croswell—State Bank of Croswell__ 565 922 1,481 90 31 Davison—Davison State Bank. 431 84 466 50 25 Dearborn- Bank of Dearborn. _ 607 1,305 2,410 200 52 Dearborn State Bank _ 2,407 2,477 5,199 300 200 Detroit- American State Bank _ 39,088 3,998 43,771 2,500 2,500 Detroit Savings Bank 30,382 9.678 41, 689 1,500 2,500 Guardian Detroit Bank _ 68,919 35,040 124, 098 5,000 6,000 Peoples Wayne County Bank 273,061 80, 790 345, 511 15,000 30,000 United Savings Bank 13,124 4,813 17, 253 1,000 900 Dundee—Monroe County Bank 470 190 598 25 25 Eaton Rapids—Michigan State Bank 311 251 606 75 15 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

302 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Investvoans ments de^osfts | ! DISTRICT NO. 7—Continued MICHIGAN—continued Edmore—Edmore State Bank 203 184 371 30 13 Elk Rapids—Elk Rapids State Bank 289 74 320 35 18 Farmington—FE.rmington State Savings Bank.... 847 216 1,003 40 30 Fennvillo—Old State Bank 260 308 591 50 17 Fenton— Commercial State Savings Bank 441 98 559 50 27 Fenton Stat? Savings Bank 560 115 705 25 25 Flint- Citizens Commercial & Savings Bank 7,449 1,477 8,056 500 500 Genesee County Savings Bank 9,017 2, 935 11,396 1,000 800 Union Industrial Trust & Savings Bank... 14,305 5, 877 20,866 2,000 1,000 Flushing—Peoples State Bank 289 57 340 25 25 Frankenmuth— American State Bank _ 462 347 835 35 30 Frankenmai;h State Bank ___ 1,538 216 1,832 10C 100 Fremont- Fremont State Bank 322 174 520 50 | 25 Old State Bunk 795 329 1,153 75 28 Grand Haven— Grand Haven State Bank 1,416 637 2,032 100 100 Peoples Savng Bank _ 933 250 1,123 50 | 50 Grand Rapids- Grand Rapiis Savings Bank __ 16,056 1,631 20,193 1,000 ! 1,000 Home State Bank for Savings 5,381 1,422 7,121 400 | 147 Old Kent Bunk 25, 688 2,094 29,674 2, 000 2,000 Greenville—Commercial State Savings Bank 858 391 1, 256 50 ! 50 Hart—Oceana County Savings Bank _. 338 160 509 40 | 25 Highland Park- American Slate Bank 3,254 966 4,151 300 j 150 Highland Park State Bank _ 14,150 9,196 23, 535 1,000 ! 2,000 Hillsdale—Hillsdale Savings Bank 553 1,005 1,850 100 | 35 Holland- First State Bank 2,989 549 3,825 200 100 Holland City State Bank 2,168 750 3,320 100 100 Holly—First State & Savings Bank 1,155 514 1,552 100 50 Howell—First State and Savings Bank 368 415 944 75 40 Imlay City— Lapeer County Bank 746 216 1,019 50 15 Peoples State Bank.. 457 201 662 50 14 Ionia—State Savings Bank 1,230 84 1,298 100 50 . Jonesville—Grojivenor Savings Bank 446 194 655 50 25 Kalamazoo—Bank of Kalamazoo 7,218 2,831 10,578 600 200 Lake Odessa—Lake Odessa State Savings Bank 372 139 550 25 25 Lakeview— Commercial State Savings Bank. 205 148 357 25 Farmers & Merchants State Bank. 234 155 366 40 10 Lansing—Ameri can State Savings Bank _ _ 7,023 2,163 9,083 750 400 Lapeer—Lapeer Savings Bank 795 336 1,128 75 32 Lenox & Richmond—Macomb County Savings Bank 756 292 1,137 50 25 Lowell—City State Bank 405 219 643 25 25 Ludington—Ludington State Bank. 807 ' 800 1,919 100 50 Manchester- Peoples Bark.. 301 178 517 25 25 Union Savings Bank 206 430 641 25 50 Manistee—Manistee County Savings Bank 1,382 1,856 3,223 100 100 Marcellus—G. W. Jones Exchange Bank 437 124 570 40 40 Marshall—Commercial Savings Bank... 703 347 1,047 100 28 TMason— Farmers Baak _ 414 98 527 50 18 First State <fc Savings Bank. 408 96 545 25 15 Midland—Chemical State Savings Bank.. 1,146 426 1,719 50 25 Milan—Milan State Savings Bank _ 364 37 406 25 25 Milford— Farmers State Savings Bank- 231 86 323 25 13 First State 3ank-.. _ 714 71 830 25 25 Monroe—Dansard State Bank 1,692 375 2,180 200 60 Montague—Farmers State Bank 308 106 395 25 13 Mount Clemen?—Citizens Savings Bank 4,732 1, 535 5,711 500 250 Mount Pleasant- Exchange Savings Bank 471 668 1,231 50 33 Isabella County State Bank 887 579 1,682 60 34 New Baltimore—Citizens State Savings Bank 366 241 616 25 25 New Haven—New Haven Savings Bank 288 166 460 25 30 Northville—Lapham State Savings Bank 1,124 145 1,227 i 50 55 Onsted—Onsted State Bank 230 41 269 25 12 Petoskey—Firsi; State Bank 732 354 1,217 75 25 Pigeon—Pigeon State Bank 434 181 623 25 13 Pinconning—Pinconning State Bank 250 136 400 30 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

303 STATE BANK MEMBERSHIP [In thousands of dollars] Invest- Loans ments Surplus DISTRICT NO. 7—Continued MICHIGAN—continued Pontiac— Pontiac Commercial & Savings Bank 13,170 1,219 15,737 800 400 Rogers City—Presque Isle County Savings Bank._ 771 662 1,504 35 20 Romeo—Romeo Savings Bank 1,204 351 1,613 100 100 Saginaw— American State Bank _ 3,616 1,516 4,688 400 325 Bank of Saginaw _ 11,820 2,716 16,396 1,250 1,000 St. Charles—St. Charles State Bank.. 313 659 969 25 25 St. Clair—Commercial & Savings Bank 887 842 2,036 75 38 Saugatuck—Fruit Growers State Bank 743 270 812 100 50 Sebewaing—Farmers & Merchants State Bank 617 587 1,388 50 20 South Haven—Citizens State Bank _ 1,014 535 1,419 100 175 Sparta—Sparta State Bank 333 221 600 30 15 Spring Lake—Spring Lake State Bank 356 139 534 25 50 Tecumseh— Lilley State Bank 388 240 674 40 20 Tecumseh State Savings Bank 640 318 869 50 30 Traverse City—Traverse City State Bank 2,090 1,656 3,813 200 200 Utica—Utica State Savings Bank 596 247 924 25 25 Vicksburg— Farmers State Bank _ 239 162 400 25 7 First State Bank _ 222 71 295 30 1 Warren—State Savings Bank _ 854 201 1,065 50 50 Washington—Washington Savings Bank 194 53 233 25 15 Wayne—Wayne Savings Bank 1,374 360 1,946 50 100 Williamston— Crossman & Williams State Bank 366 162 403 40 20 Williamston State Bank 397 259 577 50 25 WISCONSIN (See also District No. 9) Baraboo—Bank of Baraboo 1,146 1,124 2,572 100 50 Burlington—Bank of Burlington 1,109 341 1,517 125 25 Kewaunee—State Bank of Kewaunee 797 365 1,131 80 40 Madison—State Bank of Wisconsin 6,638 1,015 7,500 1,000 555 Milwaukee- Badger State Bank 5,699 1,482 7,265 400 200 Marshall & Ilsley Bank 23,999 5,811 31,490 1,500 1,500 P S P e l la y n t m e t c e o a v u — il t l h e F — — ar S m S t t e a a r t t s e e & B B a a M n n k k e r o o c f f h a P P n l l y t a s m t t S e o v t u a i t l t h e le Bank 4 Co 6 U 2 f 9 tQ 5 0 o 2 1lo 0 1 Ho 9 8 R 1, 4 8 0 3 8 8 5 5 9 1 3 5 0 5 0 0 2 5 1 5 0 8 Sheboygan—Citizens State Bank 3,864 1,118 4,812 500 400 Sturgeon Bay—Bank of Sturgeon Bay 1,733 1,339 3,253 200 50 DISTRICT NO. 8 ARKANSAS Batesville—Citizens Bank & Trust Co 457 131 749 50 20 Blythville—Farmers Bank & Trust Co 390 9 639 200 40 Brinkley—Monroe County Bank _ _ 255 35 271 35 20 Conway—Farmers State Bank 814 52 605 60 20 Forrest City—Bank of Eastern Arkansas 889 131 1,311 50 50 Hot Springs—Community Bank & Trust Co_ 698 183 827 100 50 Jonesboro—Bank of Jonesboro 1,188 348 1,101 200 100 Little Rock- Bankers Trust Co , 6,626 641 10,881 600 110 Federal Bank & Trust Co___ 2,005 88 2,152 200 25 Peoples Trust Co. 3,535 403 4,881 350 150 Union Trust Co 7,577 1,143 11,034 500 250 W. B. Worthen Co., Bankers- 2,800 415 4,273 200 300 Marvell—Bank of Marvell1 328 4 232 50 10 North Little Rock—Twin City Bank __.. 808 46 1,201 100 50 Russell ville— Bank of Russellville _._ 457 110 548 75 Peoples Exchange Bank 612 85 571 100 100 Siloam Springs—Producers State Bank... 147 10 118 25 5 Waldron—Bank of Waldron 223 47 239 60 20 Walnut Ridge—Lawrence County Bank- 399 10 333 100 31 ILLINOIS (See also District No. 7) Belleville—Belleville Savings Bank._ 2,352 1,351 3,441 300 300 Collinsville—State Bank of Collinsville 652 295 838 100 50 East St. Louis—Union Trust Co.. 2,191 2,106 4,314 600 200 Emingham—Effingham State Bank 657 228 947 110 25 Granite City—Granite City Trust & Savings Bank. 914 293 1,174 150 Digitized for 1F FRiAguSreEs Ra s of Sept. 24, 1930. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

304 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Capital | Surplus ments deposits DISTRICT NO. 8—Continued ILLINOIS—continued Greenville—State Bank of Hoiles & Sons 1,018 127 1,197 120 ! 40 Harrisburg—First Trust & Savings Bank.. 804 381 1,396 150 75 Hillsboro—Montgomery County Loan & Trust Co. 389 131 438 100 | 50 Litchfield—Litchfield Bank & Trust Co 374 252 648 100 ! 33 Madison—Union Trust Co 252 171 357 50 j 20 Mount Olive—Mount Olive State Bank 163 203 349 50 ! 10 New Athens—Farmers State Bank 111 100 206 25 ; 13 O'Fallon—First State Bank 180 32 190 25 Palmyra—First State Bank... 139 10 139 25 KENTUCKY (See also District No. 4) Louisville- Kentucky Title Trust Co_. 12, 963 3,702 4,044 1,000 1, 250 Liberty B:ink & Trust Co. 23, 246 3,775 21,453 1,000 i 2,000 Lincoln Bank & Trust Co 8,860 1,315 7,635 750 450 Owensboro—Central Trust Co.. 2,603 63 2,561 400 150 MISSISSIPPI Pontotoc—Bank of Pontotoc1 497 206 445 100 i MISSOURI (See also District No. 10) Festus—Citizens Bank.. __ 430 129 480 35 25 Iberia—Farmers & Traders Bank _ 153 1 145 25 5 La Plata—Bark of La Plata _ 205 60 281 50 10 Lebanon—Stale Savings Bank _ 250 34 376 25 ! 18 Linn Creek—Camden County Bank__ 85 173 371 25 ; 25 Luxemburg— Lemay Ferry Bank.. 774 457 1,275 50 ; 40 Maplewood— Bank of Maplewood & Trust Co_. 800 807 1,554 100 S 25 Peoples State Bank 293 95 339 100 20 Marshall—Wood & Huston Bank 1,329 51 l,3fO 100 200 Normandy—Normandy State Bank 84 95 204 i 30 7 Pine Lawn—Pine Lawn Bank __ 187 70 277 | 30 ; 15 Richmond He:ghts—Park Savings Trust Co 417 217 550 : 100 20 St. Louis- Baden Bank 1,687 1,210 2,725 200 150 Bremen Bank & Trust Co... _ 2,071 4,042 5,923 400 i 500 Cass Bank & Trust Co 2,919 2,743 5,154 300 400 Chippewa Trust Co 1,295 402 1,760 200 50 Easton-Taylor Trust Co 1,115 566 1,657 200 100 Fidelity Bank & Trust Co 1,182 554 1,282 200 40 Franklin-American Trust Co | 29, 242 5, 385 38, 631 2,600 ! 1400 Grant State Bank 649 1,109 1,726 200 I 100 Guaranty Bank & Trust Co 730 985 2,122 200 60 Jefferson E ank 1,989 1,820 3, 587 200 200 Jefferson-G-ravois Bank of St. Louis 3,378 1,448 4, 581 500 100 Laclede Tiust Co 1,367 1,010 1,895 300 100 Lafayette-South Side Bank & Trust Co 16, 554 10, 331 25, 686 2,150 ! 1,450 Lindell Trust Co 1,420 1.083 2.612 300 | 100 Lowell Bank 1,447 2,442 3,848 200 100 Manchester Bank 3,687 1,627 5,198 500 200 Mercantile-Commerce Bank & Trust Co... 65, 914 39, 294 123, 822 10,000 5000 Mississippi Valley Trust Co 49, 515 17,815 77,107 6,000 2500 Mound City Trust Co 1,155 547 1,798 200 . 50 Natural Bridge Trust Co 1,017 569 1, 257 200 50 North St. Louis Trust Co 1,484 889 2,360 200 140 Northwestern Trust Co 4, 533 4,950 8,249 500 1000 Sarah-Olive Bank 241 158 308 120 i 24 The Savings Trust Co 2,000 1,650 3,300 200 50 Scruggs, Vandervoort & Barney Bank 1,808 1, 035 3,199 200 i 100 Shaw Baric & Trust Co 712 480 1,174 200 i 80 Southern Commercial & Savings Bank I 2.301 939 3, 259 200 ! 100 Southwest Bank of St. Louis 1,015 1,111 2, 143 200 50 Tower Grcve Bank & Trust Co 8,037 2,283 10, 214 500 I 300 United Bank & Trust Co 5,345 3,334 8,813 1,000 j 500 Water Tower Bank 1,199 581 1,663 200 100 West St. Louis Trust Co 1,055 1,508 2,428 200 ; 100 St. Louis County— Gravois Bank... 497 402 893 50 50 Midland Savings Bank 46 70 93 30 I 2 North Sidt) Bank... 65 138 193 25 | 6 Sedalia—Sedal:a Trust Co 210 250 484 100 25 Digitized for Fi RFAigSurEesR a s of Sept. 24, 1930. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 305 [In thousands of dollars] Invest- I Total Surplus ments j deposits DISTRICT NO* 8-Continued MISSOURI—continued University City- University City Bank & Trust Co 566 220 742 100 30 West End Bank 454 396 883 100 26 Versailles—Bank of Versailles... _ 176 74 ! 451 40 15 Washington—Franklin County Bank 406 117 ! 496 50 25 Webster Groves—Webster Groves Trust Co. 481 949 1,572 100 100 TENNESSEE Brownsville—First State Bank _ 832 70 ! 714 200 15 Greenfield—Greenfield Bank._ 310 27 I 315 30 30 Halls—Peoples Savings Bank & Trust Co... 131 10 116 25 10 JBenning—Bank of Henning — 292 7 157 100 Memphis—Bank of Commerce & Trust Co. 23,801 3,228 30,147 3,000 1,500 DISTRICT NO. 9 (See also District No. 7) Ewen—State Bank of Ewen 243 109 350 25 •Gladstone—Gladstone State Savings Bank. 896 447 1,359 50 50 Iron Mountain—Commercial Bank 1,479 636 • 2,314 100 100 Menominee—Commercial Bank 689 452 : 1,291 100 50 Sault Ste. Marie- Central Savings Bank _.. 752 576 '< 1,469 100 50 Sault Savings Bank 701 1,176 1,876 100 60 South Range—South Range State Bank 170 582 847 30 30 MINNESOTA <31in ton—Clinton State Bank 248 41 320 25 6 Excelsior—Minnetonka State Bank... 238 242 i 533 25 25 Madelia—State Bank of Madelia 554 30 ! 532 50 10 Plainview—Peoples State Bank 173 233 489 20 5 Kevere—State Bank of Revere 179 28 160 30 25 ••South St. Paul—Drovers State Bank. 890 280 1, 245 100 10 Westbrook—Citizens State Bank 175 31 240 25 10 MONTANA Anaconda—Daly Bank Trust Co 2,296 1,484 i 4,365 100 150 Belgrade—Belgrade State Bank 275 66 i 278 50 15 Billings—Security Trust & Savings Bank 1,163 819 2,724 100 100 Bozeman— Gallatin Trust & Savings Bank 348 258 I 100 40 Security Bank & Trust Co -.-_-.- 379 124 485 100 25 Broadus—Powder River County Bank 218 84 | 309 25 20 Butte— Metals Bank & Trust Co 6,428 9,735 ! 19, 641 600 400 Miners Savings Bank & Trust Co 547 399 I 1,069 200 51 East Helena—East Helena State Bank 135 57 ! 167 50 14 Ennis—Southern Montana Bank* _.. 206 2 ; 237 25 25 Fromberg—darks Fork Valley Bank 96 8 ! 120 25 5 Hamilton—Ravalli County Bank 362 171 i 582 50 18 Helena—Union Bank & Trust Co 1,986 582 ; 3,683 250 150 Opheim—First State Bank 88 14 25 Park City—Park City State Bank 118 132 308 25 8 Richey—First State Bank 189 27 199 25 17 Townsend—State Bank of Townsend 384 194 550 100 25 White Sulphur Springs—Central State Bank. 55 38 I 108 30 Worden—Farmers' State Bank _ 47 32 ! 170 25 SOUTH DAKOTA Belle Fourche—Butte County Bank 750 165 1,072 75 25 Buffalo—First State Bank 208 30 185 25 10 Camp Crook—Little Missouri Bank 278 12 318 25 10 Mitchell—Commercial Trust & Savings Bank. 924 884 2083 100 60 Newell—Reclamation State Bank 297 38 463 25 15 WISCONSIN (See also District No. 7) Boyceville—Bank of Boyceville 151 93 332 30 •Glenwood City—Firs£ State Bank 214 54 322 30 7 Hurley—Iron Exchange Bank. 526 524 1078 75 40 Digitized for F1 RFiAguSrEesR a s of Sept. 24, 1930. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

306 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. 10 COLORADO Denver- Central Savings Bank & Trust Co - - 2,326 386 3,508 500 Internatio nal Trust Co 5,669 6,389 13,151 500 500 La Junta—Colorado Savings & Trust Co 376 112 499 75 43 KANSAS Hiawatha—Morrill& Janes Bank 513 63 574 100 4 Liberal—Citizens State Bank 271 67 484 50 25 Sedan—Sedan State Bank . _ 272 74 336 30 30 Topeka— Fidelity Savings State Bank 733 565 1,797 200 51 Winfleld—State Bank of Winfield 599 138 1,090 125 63' MISSOURI (See also District No. 8) Kansas City—Commerce Trust Co 38,628 33,520 100,020 6,000 2,000 King City—First Trust Co 202 22 196 50 3 St. Joseph—Empire Trust Co 1,041 860 1,970 200 100 South St. Joseph—St. Joseph Stock Yards Bank 1,932 388 3,107 350 150 NEBRASKA Aurora—Fide ity State Bank 437 50 453 50 Oakland— Oakland State Bank 274 78 283 25 10 Western—Saline County Bank 208 19 207 30 30 NEW MEXICO (See also District No. 11) Aztec—Citizeis Bank 200 70 278 30 15, OKLAHOMA (See also District No. 11) Okarche—Firist Bank of Okarche 201 85 322 50 16"- WYOMING Evanston—Stockgrowers Bank . 463 83 482 50 4& Mountain View—Uinta County State Bank 89 16 72 40 10 Newcastle—First State Bank 458 180 568 25 25 Powell—Park County Bank _ _ 61 61 164 25 8- DISTRICT NO. 11 NEW MEXICO (See also District No. 10) Deming—Mimbres Valley Bank ._ 232 280 537 50 25 OKLAHOMA (See also District No. 10) Valliant—Farmers State Guaranty Bank . . 93 53 139 25 11 T;EXAS Abernathy—First State Bank _ 150 10 157 25 12 Ballinger—Bellinger State Bank 167 8 176 40 5 Beaumont—Security State Bank & Trust Co 734 236 1,134 125 12 Bedias—First State Bank 27 1 52 25 6 Beeville—Beeville Bank & Trust Co . 326 33 522 50 33 Bishop—Firsi; State Bank ._ 113 1 153 25 5 Brady—Farmers & Merchants State Bank 167 2 156 50 7 Bremond—First State Bank . 193 29 315 50 21 Brownfleld—3rownfield State Bank 106 3 399 25 25 Brownsville—Texas Bank & Trust Co 698 4 691 100 30 Bryan—First State Bank & Trust Co 702 7 1, 158 100 100 Canyon—Fin;t State Bank 230 2 246 40 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE BANK MEMBERSHIP 307 [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 11—Continued TEXAS—continued Clarendon—Farmers State Bank _ 167 28 184 50 5 Clifton—Farmers State Bank 327 28 396 50 25 Coahoma—First State Bank 87 1 78 25 2 Copperas Cove—First State Bank 77 1 87 25 3 Corsicana—First State Bank _ 786 224 1,072 200 55 Cross Plains—First State Bank 176 4 195 j 30 15 Dallas- Dallas Bank & Trust Co. 6,306 2,749 10, 916 1,000 500 Mercantile Bank & Trust Co. of Texas 10,265 3,470 16,095 2,000 200 Del Rio—Del Rio Bank & Trust Co _„. 256 228 100 Ferris—Farmers & Merchants State Bank 258 3 302 50 "50 Forney—Forney State Bank _ 142 3 112 25 25 Franklin—First State Bank 118 22 147 30 15 Frost—Citizens State Bank 182 2 141 25 50 Gatesville—Guaranty Bank & Trust Co 283 54 373 50 22 Greenville—Citizens State Bank _ 293 499 859 100 14 Hallsville—Farmers State Bank _ 68 1 58 25 1 Hamilton—Hamilton Bank & Trust Co 134 3 172 50 30 Hedley—Security State Bank 167 6 164 35 16 Hillsboro—First State Bank 497 4 574 100 lola—Iola State Bank _ 58 3 57 25 '""13 Jacksonville—First State Bank 527 374 916 63 63 Junction—Junction State Bank _ 376 36 410 100 50 Killeen—First State Bank 147 3 234 35 15 Kirkland—First State Bank _ 98 1 45 35 Kosse—First State Bank 55 1 83 25 Leakey—First State Bank 80 22 77 25 Loraine—First State Bank 162 32 178 I 30 12 Lorenzo—First State Bank _ 174 9 169 I 25 25 Luling—Lipscomb Bank & Trust Co__- 500 200 718 75 80 Madison ville—Farmers State B ank __ 113 13 219 | 25 15 Matador—First State Bank__ --- 282 8 423 | 38 25 Mathis—First State Bank 129 2 184 ! 30 20 McGregor—First State Bank _._ 123 2 162 I 50 11 McKinney—Central State Bank 412 104 703 I 75 9 Memphis—Citizens State Bank__ _ , 419 17 430 75 30 Mertens—First State Bank _ 73 5 53 25 13 Mount Pleasant—Guaranty Bond State Bank. 288 37 342 j 60 Munday—First State Bank__ 109 1 104 i 35 Murchison—First State Bank 79 4 85 ! 25 5 Nacogdoches—Commercial State Bank 605 171 809 i 100 50 Rails—Security State Bank & Trust Co 181 2 156 I 60 Richardson—Citizens State Bank 98 1 77 ! 35 Roaring Springs—First State Bank 83 8 113 j 25 Roby—First State Bank 157 7 121 I 40 Rochester—First State Bank 104 1 114 25 Hoyse City—First State Bank .. 107 181 | 50 25 Rusk—Farmers & Merchants State Bank & Trust Co_ 150 15 265 | 50 San Antonio—City Central Bank and Trust Co 7,953 2,541 13,402 1,300 500 Seymour—First State Bank 154 8 161 ! 35 5 Shiro—Farmers State Bank__ 97 1 102 25 15 Sinton—Commercial State Bank _ 338 23 556 1 50 50 Slaton— First State Bank 96 2 94! 40 1 Slaton State Bank__ 160 34 271 25 3 Spearman—First State Bank 116 1 132 25 7 Stamford- First State Bank 197 63 242 100 5 Stamford State Bank 91 33 191 50 18 Sweetwater—Texas Bank & Trust Co 446 30 718 150 100 Taft—First State Bank 131 3 122 50 11 Tahoka—Security State Bank 50 1 62 25 Wellington—Wellington State Bank 120 17 225 50 "Wharton— Security Bank & Trust Co 202 50 50 Wharton Bank & Trust Co 572 52 824 100 100 'Wortham—First State Bank 160 68 179 50 10 DISTRICT NO. 12 Buckeye—Buckeye Valley Bank 102 70 211 25 10 Phoenix—Valley Bank & Trust Co.. 6,662 4,762 14, 053 1,050 550 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

308 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD [In thousands of dollars] Invest- Total Loans ments deposits Capital Surplus DISTRICT NO. 12—Continued CALIFORNIA Chico—Peoples Savings & Commercial Bank 413 1,090 100 25 Downey—Los Nietos Valley Bank 906 524 1,362 75 104 Holtville—Holtville Bank 217 94 255 75 3 Kingsburg—Kiagsburg Bank. 475 174 891 110 60 Long Beach—Farmers & Merchants Bank... 7,785 2,020 12,168 1,000 25Q Los Angeles—Union Bank & Trust Co 17, 737 25,505 5,000 2,000 Pasadena—Citizens Commercial Trust & Bank 1,930 1,643 3,706 300 75 San Francisco- American Trust Co 146,639 68, 271 240,620 10,000 10,000 Anglo-California Trust Co 47,094 21, 092 78, 094 1,500 2,250 Bank of Montreal (San Francisco) 3,922 310 3,351 1,000 170 Wells Fargo Bank & Union Trust Co.. 74,940 53.340 139, 248 9,000 5, 000 IDAHO Arco—Biitte County Bank 100 103 225 35 Boise—First Security Bank 2,837 4,691 150 100 Eagle—Bank ol" Eagle 130 129 25 5 Grangeville—Bank of Camas Prairie 350 137 518 50 25 Hazelton—Hazelton State Bank 142 75 206 25 7 Idaho Falls— Anderson Brothers Bank 2,025 888 3,144 150 75 Kimberly—Bank of Kimberly 156 77 270 25 a Malad City—J N. Ireland & Co., Bankers.. 237 181 431 40 Orofino—Bank of Orofino 184 185 447 25 20 Pocatello— 13 Citizens Benk & Trust Co 419 541 978 100 25 First Security Bank 1,188 1,375 3,273 100 50 Richfield—First State Bank 77 41 111 25 5 Soda Springs—Largilliere Co., Bankers 335 160 609 25 13 Sugar City—Fremont County Bank 115 42 156 25 Twin Falls—Twin Falls Bank & Trust Co.. 1,044 541 2,026 100 ~~20 OREGON Albany—Albany State Bank 572 1,015 50 25 Aurora—Aurora, State Bank.. 237 353 25 5 Beaverton—Bank of Beaverton 402 148 607 25 25 Central Point—Central Point State Bank 125 91 248 25 4 Dallas—Dallas City Bank 241 72 419 50 20 Enterprise—Enterprise State Bank. 210 86 271 50 10 Fossil—Steiwer & Carpenter Bank 352 85 329 100 12 Grants Pass—Grants Pass & Josephine Bank 517 396 1,023 100 50 Gresham—First State Bank 109 639 775 30 25 Haines—Bank of Haines 113 27 161 25 a Hood River—Butler Banking Co 786 93 1,085 125 Marshfield—Bank of Southwestern Oregon 308 325 671 100 35 Medford—Jackson County Bank._ _ 842 457 1,474 100 20 Multnomah—Multnomah Commercial & Savings 20 Bank - 146 192 25 5 Myrtle Point-Bank of Myrtle Point 114 102 237 25 9 North Portland—Live Stock State Bank 234 117 364 50 8 Oakland—E. G. Young & Co. Bank 221 297 595 50 15 Oregon City- Bank of Commerce 493 591 1,082 200 40 Bank of Oregon City 380 791 1,481 150 30 Pendleton—Inland-Empire Bank _ 1,565 166 1,452 250 50 Portland—Hib'irnia Commercial & Savings Bank... 3,771 2,156 7,270 500 100 Reedsport—First Bank of Reedsport 62 56 180 25 5 Shaniko—Eastorn Oregon Banking Co 207 68 231 25 15 Wasco—Bank of Commerce _ 321 10 306 55 11 Woodburn—Bank of Woodburn 314 334 50 10 UTAH Cedar City—Bank of Southern Utah 763 35 576 100 85 Ephraim—Bank of Ephraim __ 545 8 476 50 55 Fountain Greea—Bank of Fountain Green. 218 49 252 25 35 Gunnison—Gunnison Valley Bank 225 7 270 25 13 Helper—Helper State Bank..._ 578 168 905 50 50 Kaysville—Barnes Banking Co. 546 14 404 50 100 Logan—Cache Valley Banking Co 1,107 382 1,671 100 50 Ogden—Commercial Security Bank 3,289 519 4,614 300 100 Parowan—Bank of Iron County 255 3 235 35 21 Payson—State Bank of Payson 324 2 356 50 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

309 STATE BANK MEMBERSHIP [In thousands of dollars] Loans I m nv e e n s t t s - de T p o o t s a i l ts Capital Surplus DISTRICT NO. 12—Continued UTAH—continued Price- Carbon County Bank _ 355 70 483 50 60 Price Commercial & Savings Bank 617 179 858 50 70 Provo— Farmers & Merchants Bank... 792 206 1,020 100 44 Knight Trust & Savings Bank ___ 928 259 1,205 300 81 Richfield—James M. Peterson Bank _ _-- 650 17 536 50 50 Salina—First State Bank 4 781 25 100 Salt Lake City- Tracy Loan & Trust Co 945 212 938 250 ' 200 Utah Savings & Trust Co - 1,301 508 1,965 300 150 Walker Brothers, Bankers.. 12, 574 6,523 24, 378 1,500 625 Spanish Fork—Commercial Bank 654 3 631 50 50 Vernal—Bank of Vernal 247 17 260 60 19 WASHINGTON Almira—Almira State Bank 172 31 146 50 13 Buena—Buena State Bank __ 75 16 62 25 2 Chehalis—Coffman-Dobson Bank & Trust Co 1,311 512 1,986 150 100 Colfax—First Savings & Trust Bank of Whitman Co. 457 52 499 75 15 Coulee City—Security State Bank _ 50 20 59 25 Davenport—Lincoln County State Bank 377 72 361 50 20 Ellensburg—Farmers Bank 521 527 1,150 100 50 Hoquiam—Bank of Hoquiam _ 1,101 609 1,866 100 50 Kelso—Cowlitz Valley Bank 189 265 454 30 30 LaCrosse—First State Bank _. 412 61 410 60 20 Odessa—Security State Bank _ 739 159 635 50 10 Okanogan—Commercial Bank 215 82 245 50 10 Pine City—Pine* Gity State Bank 110 i 78 25 4 Pomeroy—Pomeroy State Bank 620 142 646 50 150 Pullman—Pullman State Bank 536 690 50 25 Puyallup— Citizens State Bank__ 367 192 604 50 15 Puyallup State Bank 288 318 632 50 14 Ritzville—Ritzville State Bank _ 109 177 294 25 15 Rockford—Farmers & Merchants Bank 150 50 188 25 3 Rosalia—Bank of Rosalia 206 43 226 25 15 St. John—Farmers State Bank 370 56 302 40 12 Seattle—Peoples Bank & Trust Co 5,437 3,859 12, 592 600 200 Selah—Selah State Bank _ 255 100 423 30 6 South Bend—Pacific State Bank 194 493 50 30 Spokane- Spokane & Eastern Trust Co 9,676 1,146 13,700 1,000 250 Washington Trust Co 1,652 463 2,542 200 100 Tekoa— Citizens State Bank 179 57 215 25 7 Tekoa State Bank 248 162 462 30 | 16 Toppenish— i Central Bank _ _ 165 121 255 50 10 Traders Bank 181 154 363 25 15 Uniontown—Farmers State Bank 127 16 144 25 5 Walla Walla- Peoples State Bank _ 1,429 160 1,701 100 50 Union Bank & Trust Co.1 _ 1,012 490 1,816 200 30 Wenatchee— Columbia Valley Bank 1,138 454 2,000 100 60 Commercial Bank & Trust Co 1,255 409 1,890 100 40 Wilbur—State Bank of Wilbur _ 321 103 395 50 10 Yakima—Yakima Valley Bank & Trust Co 1,721 612 2,643 275 55 J Figures as of Sept. 24, 1930. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

310 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD STATE BANK MEMBERS—SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK, DECEMBER, 31, 1930. Number of banks with a capital stock of— s State il I ©€«• New England: Maine New Hampshire- Massachusotts..- Rhode Islaid Connecticut Middle Atlantic: New York.. - 101 17 New Jersey 1 Pennsylvania 3 East North Central: Ohio 10 Indiana 11 Illinois 51 Michigan... 137 Wisconsin 14 West North Central: Minnesota.. 7 Iowa 31 Missouri.., 57 South Dakota 5 Nebraska... 3 Kansas 5 South Atlantic: Delaware.. 4 Maryland 5 Virginia 11 West Virginia 15 North Carolina __ 5 South Carolina... 6 Georgia 31 Florida 4 East South Central: Kentucky Tennessee. Alabama..., Mississippi _ West South Central: Arkansas Louisiana Oklahoma Texas Mountain: Montana Idaho Wyoming Colorado .. New Mexico Arizona Utah Pacific: Washington Oregon California Total. 1,019 139 71 144 51 143 55 177 79 119 41 * Includes 1 bank in Minnesota with capital of $20,000 and deposits of $489,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

311 STATE BANK MEMBERSHIP STATE BANK MEMBERS—SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK, DECEMBER 31, 1930—Continued [In thousands of dollars] Aggregate capital of banks with a capital stock of— s State II §1 New England: Maine 200 200 N M e a w ss a H c a h m us p e s t h t i s r . e _ _ . 26,7 7 5 5 0 75 "166' 2,950 18,700 5,000 Rhode Island 10,200 200 5,000 5,000 Connecticut 3,100 500 2,600 Middle Atlantic: New York 87,700 30 450 135 2,000 325 5,650 6,810 30,950 1341,350 New Jersey _ 41,473 50 75 1,400 150 5,725 7,050 20,356 6,667 Pennsylvania 65,959 105 250 135 100 2,740 8,949 7,303 25,963 20,389 East North Central: Ohio 86,940 250 30 550 60 700 1,375 1,525 1,700 27,100 53,650 Indiana 5,255 30 50 75 800 1,800 2,500 Illinois 175 300 60 900 680 1,900 4,100 7,850 93,~666 W Mi i c sc h o ig n a s n in 46 4 , , 2 3 2 3 5 0 775 "57 9 5 5 "1,3 5 5 0 0 8 1 7 5 0 5 1, 2 80 00 0 4 1 1 2 0 5 3,6 6 5 00 0 3,6 5 5 00 0 13 2 , , 5 2 0 5 0 0 20,000 West North Central: Minnesota 275 30 50 100 Iowa 5,036 201 500 135 300 700 600 2,500 Missouri 36, 635 165 250 800 120 5,450 2,000 5,750 22,000 South Dakota 250 75 100 Nebraska 105 Kansas 505 100 125 200 South Atlantic: Delaware 7,871 7,871 Maryland 9,875 100 3,500 6,250 Virginia- 8,750 50 200 300 2,100 6,000 W No e r s t t h V C ir a g ro in li i n a— a. _ . 3 4, , 9 2 0 9 0 0 200 2 2 0 0 0 0 750 1,000 4 1 , ,0 7 0 0 0 0 South Carolina—. 528 25 50 153 j 100 200 Georgia 6,371 200 150 311 700 150 780 2,050 2,000 Florida 50 200 East South Central: Kentucky 3,800 150 400 1,250 2,000 Tennessee 3,355 30 100 200 3,000 Alabama 2,100 100 200 200 "566 1,000 M ississippi 100 100 West South Central: Arkansas 3,055 25 35 150 195 400 1,150 1,100 Louisiana 11, 050 50 750 3,500 6,750 Oklahoma 75 25 50 Texas 8,011 550 528 850 408 900 275 200 4,300 Mountain: MMoonttana .. 1,905 175 30 150 500 450 600 Idaho 900 175 75 50 300 300 Wyoming 140 50 40 50 Colorado 1,075 75 i,"ooo" New Mexico 80 50 A U r t i a z h o . n . a 3 1 , ,0 5 7 2 5 0 "466" 60 300 1,150 1 1 , , 0 5 5 0 0 0 Pacific: Washington 3,965 225 130 550 135 500 150 675 600 1,000 Oregon 2,210 200 30 300 55 400 275 450 500 California 28,160 150 100 110 300 3,500 24,000 Total. 946,419 3,470 2,419 7,200 3,607 14, 300 7,460 46,004 46,963 210,940 604,056 1 Includes 1 bank in Minnesota with a capital of $20,000, and deposits of $489,000. 33454—31 21 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

312 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD STATE BANK MEMBERS—SUMMARY CLASSIFICATION ACCORDING TO CAPITAL STOCK, DECEMBER 31, 1930—Continued [In thousands of dollars] Total deposits of banks with a capital stock of— State Total 82 New England: Maine- __. 5,606 5,606 New Ham pshire 1,176 -! 1,176 Massachusetts— | 296,802 2,079 61, 537 222, 886 10,300 Rhode Island _-- 268, 027 2,948 164,429 100,650 Connecticut 40, 561 5,326 35,235- Middle Atlantic: New York 6,168, 524 204; 7,581i 2f276 36,394 4,761 83,859!140,056 366, 633 5, 526,670 New Jersey 607,666' 360 1,019 19,989; 1,447 80,3991 88,127 273, 256 143,069 Pennsylvania... 1,077,019 180 855! 2,876 ~- 2,813 24, 2"2'4106,560 54,595 465, 738 418,216 East North Central: Ohio 1,305,017 3,773 101 6,793 570 11,24714,967 26,576 16,967 354,042 869,981 Indiana 54,938! 305| 597! 656 7.811J 15,886 29,683 Illinois..-.. 1,371,185 1,206 1 2,750; 549 9,121 5,868 22,1681 57,852 106,465:1,165,206 Michigan 909, 369 15,078 9,667 26,39914,471 30, 707 5,892 54,469! 58,304 224, 7731 469,609 Wisconsin 63,681! l,089j l,089| 2,209 3,457 1,517 10, 518 4,812 38,9901.- West North Central: I Minnesota, 3, 519; 1,582| 160 532 1, 245L Iowa 73,171 812s1,9461 5,854 2,293 6,9161 8,008 38,462 Missouri 477,823' 1,085! 1,505 3,141L 7,514! 308 61,949 28,242 73,130 300,949 South Dakota... 4,12l! j 1,072 2,083 Nebraska 943) 207 453L- Kansas 4, 2811 336! 484.- 574 1,090 1,797 South Atlantic: | Delaware J 48,039 j Maryland I 127,409 j 323 49,162! 76,488 Virginia.. ! 63,844 Il6! 399i 526 ,| 1,772 50,024 West Virginia- 34,009 2881 l,233i 334 2,473 7,694 9,979 11,810 North Carolina. 70, 455 i 1,445 69, Oio! South Carolina . 5, 955! 176 3751 1,260 921 3,223 Georgia 29, 5831 766 108 1,159j 1,366 2,634 358 13,434 6,094 Florida.-. lf 187 396L_. 1,115 East South Central: Kentucky 39,896 1,005 2,561 10,833 25, 497 Tennessee 31,449 116 315 157 714 30,147 Alabama.._ 23,474 292 6371 391 1,463 758 1,198 18, 735 Mississippi 445! 445 West South C Mitral: Arkansas 41,956 118 271 2,282! 1,392 2,932 13,046 21,915 Louisiana._ 170,587 623 19,887 69,854 80,223 Oklahoma 461 139 322 Texas 63,003 2,773 2~549 5,284 3,265 5,795 1,852 1,072 40,413 Mountain: 4 Montana 35,965 1,420 108 1,027 9,017 4,752 19,641! Idaho 17,215 1,928 656 518 6,277 Wyoming 1,286 732 72 482 Colorado 17,158 499 16,659 New Mexico 815 "278 ""537 Arizona 14,264 211 14, 053 Utah 42,814 1,303 235 4,~649 260 3,267 8,722 24,378 Pacific: Washington 53,362 1,629 1,641 5,297 8,607 7,001 12,592 13, 700 Oregon 22,520 2,209 775 3,363 306 3,497 2,566 2,534 7,270 California 506,290 1,617 1,090 891 3,706 93,613 405,373 Total. 14,197,381 39,29824,06487,49239,378 193,424 76,568596,016616,156!2,958,251 9,566,734 1 Includes 1 bank in Minnesota with capital of $20,000 and deposits of $489,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ANNUAL REPORT OF THE FEDERAL RESERVE BOARD 313 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 MAINS CONNECTICUT (See also District No. 2) Au B b a u n r k n . —National Shoe & Leather Ito7. Ansonia—Ansonia National Bank itoG. Augusta—First National Granite Ito9. Canaan—Canaan National Bank Ito9. Bank. Derby—Birmingham National Bank- ltoQ. Bangor— Hartford— Merchants National Bank Ito9. Capitol National Bank & Trust I to ft. Bar Harbor—First National Bank... Ito4. Co. Bath- First National Bank lto& Bath National Bank Ito8. Hartford National Bank & Trust Ito9. First National Bank Ito8. Co. Belfast—City National Bank. 1 to 8. Meriden—Home National Bank 1 to9 Biddeford—First National Bank of Ito9. Middletown— Biddeford, Central National Bank Ito9. Camden—Camden National Bank... Ito9. First National Bank Ito9. Damariscotta—First National Bank 1,2,3,5, and Middletown National Bank & 1 to 9. of Damariscotta. 6. Trust Co. Ellsworth—Liberty National Bank.. Ito9. Naugatuck—Naugafcuck National 1 to 9. Farmington— Bank. First National Bank.. _ Ito9. New Britain- Peoples National Bank _ 1 to 3, and 5. City National Bank 1 to 8. Fort Fairfleld—Fort Fairfield Na- Ito9. New Britain National Bank Ito9. tional bank. New Haven- Fort Kent—First National Bank 1 to 3, 5 to & First National Bank & Trust Co. 1 to 8. Houlton—First National Bank 1 to 5, and 9. Mcrchants National Bank... Ito8. Lewiston— National Tradesmens Bank & Itoft. First National Bank Ito9. Trust Co. Manufacturers National Bank... 1 to 5, and 9* New Haven Bank, N. B. A lto«. Norway—Norway National Bank Ito8. Second National Bank Ito9. Pittsfield—Pittsfield National Bank . Ito9. New London- Portland - National Bank of Commerce ltofi. Canal National Bank Ito9. National Whaling Bank Ito9. First National Bank 1, 2, and 4. New London City National Bank 1, 2, 3, 5, 7, Portland National Bank Ito9. o» a no v. Roekiand— New Milford—First National Bank. 1 to 9. North National Bank Ito9. Norwich—Uncas-Merchants National 1 to 8. Roekiand National Bank Ito9. Bank. Rumford—Rumford National Bank.. 1 to 9. Putnam—Citizens National Bank I to 9. Saco—York National Bank Ito9. Rockville—Rockviile National Bank. Ito9. Sanford—Sanford National Bank Ito9. Torrington—Torrington National Ito9. Skowhegan—First National Bank lto». Bank & Trust Co. Springvale— Springvale National Ito9. Wallingford—First National Bank..- Itoft Bank. Water bury— Thomaston— Citizens and Manufacturers Na- Ito9. Georges National Bank 1 to 3, 5, and ti lkO f\ nO na 1l |X J >r\8 *Di IFX'. 1 toO. Thomaston National Bank 1 to 3, 5, 8, Waterbury National Bank Willimantic—Windham National Ito9. and 9. Digitized forW F B iRn a s n Ate k Sd . —ERH urlbut National Bank... Ito9. Van Buren—First National Bank 1 a to n c 3 i , 9 5 . to 7P http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

314 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 1—Continued DISTRICT NO. 1-Continued MAINE—continued Waldoboro—Medomak National Bank. Ito3,5to7, MASSACHUSETTS—continued Waterville— and 9. Nantucket—Pacific National Bank... 1 to 9. T Pe ic o o p n le ic 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 1 t t o o 4 9 . . N Ne ee w d h B am ed — fo N rd e - edham National Bank- Ito9. MASSACHUSETTS First National Bank.. 1 to 9. Abington—Abington National Bank. 1. Merchants National Bank 1 to 9. Adams- Safe Deposit National Bank 1 to 9. First National Bank Ito8. Newburyport— Graylock National Bank 1 to 7 and 9. First and Ocean National Bank.. 1 to 9. Amherst—First National Bank 1 to 9. Merchants National Bank Ito8. Andover—Andover National Bank._. Ito9. Newton— Athol— First National Bank 1 to 9. Atliol National Bank _. 1 to 3, 5 to 8. Newton National Bank 1 to 9. Millers Rivsr National Bank 1 to 7 and 9. North Adams—North Adams Na- 1 to 9. Attleboro—First National Bank 1 to 9. tional Bank. Beverly—Beveily National Bank 1 to 4. North Attleboro—Manufacturers Na- 1 to 9. Bost A on tl — antic National Bank 1 to 9. flliOAnnoal 1 "DijOaTUIITK. Boston Continental NationalBank. 1 to 9. NorFthirasmt Nptaotino-nal Bank 1 to 9. Federal National Bank Ito9. Northampton National Bank & 1 to 9. First Natioaal Bank 1 to 9. Trust Co. Merchants National Bank Ito9. Orange—Orange National Bank Ito9. National Rockland Bank. 1 to 9. Palmer—Palmer National Bank 1 to 9. National Shawmut Bank Ito9. Peabody—Warren National Bank Ito9. Second National Bank 1 to 9. Pittsfield— Webster & Atlas National Bank. Ito9. Agricultural National Bank 1 to 9. Brockton- Pittsfield-Third National Bank 1 to 7 and 9. Brockton National Bank 1 to 9. & Trust Co. Home National Bank 1 to 9. Plymouth- Cohasset—Cob.asset National Bank.. Ito9. Old Colony National Bank Ito5. Dedham—Dediiam National Bank... 1 to 9. Plymouth National Bank 1 to 4. Edgartown—Edgartown National 1 to 3. Provincetown—First National Bank. 1 to 9. Bank. Quincy—National Mount Wollaston Ito9. Everett—Everest National Bank 1 to 9. Bank of Quincy. Fall River- Reading—First National Bank Ito4. Fall River National Bank 1 to 9. Salem—Merchants National Bank... 1 to 9. Falmouth—Falmouth National Bank 1 to 9. Shelburne Falls—Shelburne Falls 1 to 7 and 9 Fitchburg—Safety Fund National 1 to 9. National Bank. Bank. Somerville—Somerville National Ito9. Foxboro—Foxtoro National Bank... 1 to 9. Bank. Framingham—Framingham National 1 to 9. Southbridge—Southbridge National 1 to 9. Bank. Bank. Gardner—Firsi; National Bank Ito9. Springfield- Gloucester- Springfield-Chap in National Ito9. Cape Ann National Bank... Ito9. Bank & Trust Co. Gloucester National Bank Ito9. Third National Bank & Trust Co. 1 to 9. Great Barrin?ton—National Ma- 1 to 9. Tisbury—Martha's Vineyard Na- Ito8. naiwe .oanK. tional Bank. Greenfield—Fi:-st National Bank & Ito9. Townsend—Townsend National Bank Ito3. Trust Co. Turners Falls—Crocker National 1 to 7 and 9. Haverhill— Bank. Essex National Bank___ 1 to 7 and 9. Uxbridge—Blackstone National Bank 1 to 4. First National Bank 1 to 4. Waltham—Waltham National Bank. 1 to 7 and 9. Haverhill National Bank Ito9. Wareham—National Bank of Ware- Ito9. Merrimacf: National Bank Ito4. ham. Holyoke—Holyoke National Bank... 1 to 9. Watertown—Union Market National 1 to 9. Hudson—Hudson National Bank 1 to 9. Bank. Ipswich—First National Bank 1 to 9. Webster—First National Bank Ito9. Lawrence—Bay State National Bank. 1 to 9, Wellesley—Wellesley National Bank, 1 to 9. Leominster— Westfield— Leominster National Bank 1 to 4. First National Bank Ito8. Merchants National Bank 1 to 7 and 9. Hampden National Bank 1 to 7 and 9. Lowell— Winchendon—First National Bank., 1 to 9. Appleton National Bank 1 to 9. Winchester—Winchester National Ito9. Union Old Lowell National Bank. 1 to 9. Bank. Lynn- Woburn—Woburn National Bank... 1, 2, 3, 6, 7, Central National Bank 1 to 8. and 9. Manufacturers National Bank 1 to 9. Worcester- National City Bank 1 to 5 and 7. Mechanics National Bank_ Ito9. State National Bank Ito9. Worcester County National Bank 1 to 9. Maiden- Yarmouthport—First National Bank 1 to 9. First National Bank Ito9. of Yarmouth. Second National Bank Ito9. Marblehead—National Grand Bank. Ito9. NEW HAMPSHIRE Marlboro- Berlin- First National Bank Ito4. Berlin National Bank 1, 2, 4, 6, Peoples National Bank 1 to 9, and 7. Medford—Firut National Bank 1,2,3, and 5. City National Bank 1. Methuen—Mothuen National Bank. Ito8. Charleston—Connecticut River Na- 1 and 4. Milford— tional Bank. Home National Bank Ito4. Claremont— Milford National Bank & Trust Ito9. Claremont National Bank 1 to 4. Digitized for FRACSoE.R Peoples National Bank 1. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 315 Powers Powers granted granted DISTRICT NO. 1-Continued DISTRICT NO. 1-Continued NEW HAMPSHIRE—continued VERMONT—continued Concord— F M N i a r e t s c i t o h N n an a a i l t c i S k o t s n a a N te l a B C ti a o a n p n k i a t l a l B B an a k nk I 1 1 t , , o 2 2 9 , , . a a n n d d 4 4 . . N R Po o u B u r t a l t l t h n a n f k e n i . e y d l — - d— Ci N tiz o e r n th s f i N el a d t ion N al a B ti a o n n k a . l .. 1 It t o o 4 9 . , Deny—Derry National Bank 1. Central National Bank 1 to 7 and 9. D Ex o e v t M S e e r tr — r e a - r f c f R o h r o a d c n k t N s in N a g t h a io a ti n m o a n l N a B l a a B ti n o a k n n a k l Ban _ k . . 1 1 1 , t t 2 o o , 3 4 a . . nd 4. S S t t . . A J R C o l h u l b e n a t m l n s a b s e n — u n d r t y W C N — e o a l u t d i n o e t n n y a N l N a B a t t a i i o n o n k n a a l l B B a a n n k k . . . I I I t t t o o o 3 4 9 . . ,5to7. H Fr a a n n o k v l e in r— — D Fr a a r n tm kl o in u th N a N ti a o ti n o a n l a B l B an an k k .. 1 1. ,2,4, and 9. M Fir e s r t c h N a a n t t i s o n N a a l ti B o a n n a k l Bank _ 1 1 t t o o 8 6 . and 9* Keen A K e s e — h e u n e e l o N t- a C ti i o ti n z a e l n s B a N n a k tional Bank_ 1 1 t a o n d 4. 4. S W p i r n in d g s f o i r e — ld— Sta F t i e r s N t a N ti a o t n io a n l a B l a B nk ank I 1 t o to 5 . 3,5 to 7. Laco L n a ia c — onia National Bank 1, 2, and 4. DISTRICT NO. 2 Peoples National Bank 1 and 4. CONNECTICUT L Le a n b n o a c n n a . s o t n e — r— N L a a t n io c n a a s l t er B N an at k i on o a f l L B e a b n a k - . 1 1, , 2 a 2 , n 4 , d , 4 a 9 , n . 6 d , 9 7 . , Br T id r g u e s p t ( S o C e r e o t— . al F so ir s D t is N tr a ic ti t o n N a o l . B 1) ank & 1 to 9. Man A F c i h 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, Dan D C bu i a t r n y y b — N ur a y ti o N n a a t l i o B n a a n l k B & an k Trust Co. 1 1 t t o o 9 9 . . Manchester National Bank 1. Greenwich—First National Bank in.. 1 to 9. Merchants National Bank 1, 4, and 9. New Canaan—First National Bank 1 to 9. Milford—Souhegan National Bank... 1 and 4. & Trust Co. Nashua- Norwalk—National Bank of Norwalk 1 to 9. Indian Head National Bank 1, a 2 n ,3 d , 4 9 , . 6,7, Ri T dg ru e s fi t e l C d o — . First National Bank & 1 to 9. Second National Bank 1, 2, and 4. South Norwalk—City National Bank. 1 to 9. Newport—Citizens National Bank... 1, a 2 n , d 4 9 , . 6, 7, Stam F fo ir r s d t — Stamford National Bank & 1 to 9. Peterboro—First National Bank 1, 4, and 9. Trust Co. Plymouth—Pemigewasset National 1 and 4. Peoples National Bank 1 to 9. Bank. NEW JERSEY Portsmouth— (See also District No. 3) First National Bank 1, 2, 4, 6, 7, Allendale—First National Bank 1 to 9. and 9. Roc N he e s w te r H — a P m u p b s l h ic ir e N N at a io ti n o a n l a l B B a a n n k k .. , . . 1 1 , a 2 n , d 4 9 , . 6, 7, A A l l B l l e e a n n n t h o k u w r & s n t — — Tr F A u a s l r l t e m n C e h o r u s . r s N t ati N on a a t l io B n an al k. 1 It o to 9 . 9. T W il i t l o to n n — — C W iti i z lt e o n n ' s N N a a ti t o io n n a a l l B B a a n n k k 1 1 , a a 2 n n , d d 4 9 2 , . . 6, 7, A A t s B l b a a u n n r t k y ic P & H a r T i k g r — h u l s a A t n s C d b s o u — . ry A P tl a a r n k t i N c a H tio ig n h a - l 1 to 9. Wolfeboro—Wolfeboro National Bank 1 a a n n d d 4 9 . . Ba la y n o d n s n e N — at M io e n c a h l a B ni a c n s' k N . ational Bank 1 to 9. RHODE ISLAND Belleville—Peoples National Bank & 1 to 9. Newport— Trust Co. Aquidneck National Exchange 1 to 9. Belvidere—Belvidere National Bank. I to 8. Bank & Savings Co. Bergenfield—Bergenfieid National 1 to 9. Newport National Bank 1 to 9. Bank & Trust Co. Providence— Bernardsville—Bernardsville Nation- 1 to 9. Blackstone Canal National Bank. 1 to 9. al Bank. National Bank of Commerce 1 to 9. Boonton—Boonton National Bank__. 1 to 9. Providence National Bank 1 to 9. Boundbrook—First National Bank... 1 to 9. Butler—First National Bank 1 to 9. VERMONT Caldwell— Barre—Peoples National Bank Ito9. Caldwell National Bank 1 to 9. Bellows Falls—National Bank of Bel- 1 to 9. Citizens National Bank & Trust 1 to 8. lows Falls. Co. Bennington— Carlstadt—Carlstadt National Bank. 1 to 9. County National Bank Ito9. Carteret—First National Bank 1 to 9. First National Bank _ 1 to 9. Clifton- Bethel—National White River Bank. Ito9. Clifton National Bank 1 to 9. Brandon—First National Bank Ito4. First National Bank 1 to 9. Brattleboro—Vermont Peoples Na- 1 to 9. Closter— tional Bank. Closter National Bank & Trust Ito9. Burlington—Howard National Bank. 1 to 8. Co. Chelsea—National Bank of Orange 1 to 8. Cranbury—First National Bank 1 to 9. County. Cranford—First National Bank 1 to 9. Chester—National Bank of Chester.. 1, 2,3, and 5. Dover—National Union Bank Ito9. Danville—Caledonia National Bank._ 1 to 9. Dunellen—First National Bank 1 to 9. Derby Line—National Bank of Derby 1 to 3,5 and 9. East Orange—First National Bank... 1 to 9. Line. Elizabeth—National State Bank 1 to 7 and 9. Enosburg Falls—First National Bank Ito9. Englewood—Citizens National Bank 1 to 9. Manchester Center—Factory Point 1 to 9. & Trust Co. National Bank. Flemington—Flemington National 1 to 9. Middlebury—National Bank of Mid- Ito9. Bank & Trust Co. dlebury. Freehold- Montpelier— Central National Bank 1 to 9. First National Bank _ Ito4. First National Bank _. 1 to 9. Montpelier National Bank Ito9. National Freehold Banking Co... Ito9. Digitized forN FewRpAoSrt—ERN ational Bank of Newport 1 to 7 and 9. Frenchtown—Union National Bank.. 1 and 4. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

316 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW JERSEY—continued NEW JERSEY—continued Garfield—First National Bank Ito9. Paterson—Continued. Glen Rock—Gl3n Rock National Ito9. Paterson National Bank 1 to 9. Bank. Second National Bank 1 to 9. Hackensack—Ci iy National Bank & Ito9. Perth Amboy— Trust Co. First National Bank _ 1 to 9. Hackettstown— Perth Amboy National Bank 1 to 9. Hackettstown National Bank 1 to 9. Phillipsburg— Peoples National Bank Ito9. Phillipsburg National Bank & 1 to 8. Hamburg—Hard yston National 1 to 8. Trust Co. Bank. Second National Bank 1 to 9. Highland Park—First National Bank. Ito9. Plainfield—First National Bank 1 to 9. Hillside—Hillside National Bank 1 to 9. Pompton Lakes—First National 1 to 8. Hoboken—First National Bank Ito4. Bank & Trust Co. Irvington— Prospect Park—Prospect Park Na- 1 to 9. Irvington National Bank 1 to 9. tional Bank. Peoples National Bank & Trust 1 to 9. Rahway— Co. Citizens National Bank 1 to 9. Jersey City- Rahway National Bank 1 to 9. First National Bank Ito9. Ramsey—First National Bank & 1 to 9. Franklin National Bank 1 to 7 and 9. Trust Co. Hudson County National Bank- Ito9. Red Bank- Journal Square National Bank.. 1 to f. Broad Street National Bank 1 to 9. Kearny—First National Bank & Ito9. Second National Bank & Trust 1 to 9. Trust Co. Lambert ville— Ridgewood— Amwell National Bank Ito9. Citizens National Bank & Trust 1 to 9. Lambert villo, National Bank Ito9. Co. Linden—Linden National Bank & Ito9. First National Bank & Trust Co. Ito9. Trust Co. Rockaway—First National Bank Ito9. Little Falls-Little Falls National Ito9. Roselle—First National Bank 1 to 9. Bank. Rutherford—Rutherford National 1 to 9. Long Branch—Citizens National 1 to 9. Bank. Bank. Sayreville—First National Bank 1 to 8. Lyndhurst—First National Bank Ito9. Somerville—Second National Bank.. 1 to 4. Madison—First National Bank 1 to 9. South Amboy—First National Bank. 1 to 9. Manasquan—Manasquan National Ito9. South River—First National Bank... 1 to 9. Bank. Summit—First National Bank & 1 to 9. Metuchen—Metuchen National Bank. Ito9. Trust Co. Milburn—First National Bank Ito9. Sussex—Farmers National Bank 1 to 4. Milltown—First; National Bank 1 to 9* Tenafly—Northern Valley National 1 to 9. Montclair— Bank First National Bank & Trust 1 to 9. Union City—First National Bank 1 to 9. Co. Washington—First National Bank... 1 to 9. Montclair National Bank Ito9. Weehawken—Hamilton National Ito9. Morrist own— First National Bank Ito9. West New York—First National Ito9. National Ircn Bank Ito9. Bank. Newark- West Orange—First National Bank.. 1 to 9. Lincoln National Bank Ito9. Westwood—First National Bank 1 to 9. Mount Prospect National Bank.. Ito9. Woodbridge— First National Bank 1 to 9. National Newark & Essex Bank- Ito9. & Trust Co. Na in ti g o n C a o l . State Bank Ito9. NEW YORK New Jersey National Bank & Ito9. Adams—Farmers National Bank 1 to 9. lrusi uo. Albany— South Side National Bank & I to 9. National Commercial Bank & 1 to 8. Trust Co. Trust Co. Union National Bank Ito9. New York State National Bank.. 1 to 9. New Brunswick- Amityville—First National Bank & 1 to 9. National Bsnk of New Jersey Ito9. Trust Co. Peoples National Bank Ito9. Amsterdam— Newton—Sussex & Merchants Na- I to 9. Amsterdam City National Bank. 1 to3,5to8 tional Bank. Farmers National Bank 1 to 9. Nutley— First National Bank 1 to 9. First National Bank... Ito9. Auburn— Franklin National Bank 1 to 9. Cayuga County National Bank.. 1 to 9. Ocean Grove—Ocean Grove National 1 to 9. National Bank of Auburn 1 to 9. Bank. Babylon—Babylon National Bank 1 to 9. Orange- i & Trust Co. Orange National Bank. 1 to 8. i Baldwin— Second National Bank Ito9. ; Baldv7in National Bank & Trust 1 to 9. Palisades Park—Palisades Park Na- Ito9. Co. tional Bank 6: Trust Co. ! Sunrise National Bank & Trust 1 to 9. Passaic— ! Co. American National Bank 1 to 9. Bald wins ville—First National Bank Ito9. Lincoln National Bank.. 1 to 9. & Trust Co. Passaic National Bank & Trust 1 to 9. Ballston Spa— Co. Ballston Spa National Bank Ho 9. Paterson— 1 First National Bank 1 to 6. Columbus National Bank 1 to 9. Batavia—First National Bank 1 to 9. First Natioaal Bank 1 to 9. Bath—Bath National Bank 1 to 9. Labor National Bank 1 to 9. 1 Bay Shore—First National Bank <fe 1 to 9. Digitized for FRNAaStiEonRal Bank of America 1 to 9. Trust Co. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 317 Powers Powers granted granted DISTRICT NO. 2-Continued DISTRICT NO. 2—Continued NEW YOEK—continued NEW YORK—continued Beacon— Freeport— Fishkill National Bank 1 to 9. Citizens National Bank 1 to 9. Matteawan National Bank of 1 to 9. First National Bank & Trust Co. 1 to 9. Beacon. Fulton—Citizens National Bank & Ito9. Binghamt on- Trust Co. City National Bank Ito9. Geneseo—Genesee Valley National 1 to 9. First National Bank 1 to 9. Bank & Trust Co. Bridgehampton— Bridgehampton 1 to 9. Glens Falls- National Bank. First National Bank 1 to 9. Bronxville—Gramatan National 1 to 9. National Bank of Glens Falls 1 to 9. Bank & Trust Co. Gloversville— Callicoon—Callicoon National Bank. Ito9. City National Bank & Trust Co._ Ito9. Camden—first National Bank & 1 to 9. Fulton County National Bank & Ito9. Canajoharie— Goshen—National Bank of Orange 1 to 9. Canajoharie National Bank Ito9. County. National Spraker Bank Ito9. Granville— Canandaigua—Canandaigua Na- 1 to 9. Farmers National Bank 1 and 4. tional Bank & Trust Co. Washington County National Ito5. \jaIll F O i u rs .— t National Bank 1 to 9. Hamp B to a n n k. Bays—Hampton Bays Ito9. St. Lawrence County National 1 to 3,5 to 8 National Bank. Bank. Hancock—First National Bank 1 to 9. Carmel—Putnam County National Ito9. Haverstraw—National B a n k <fc 1 to 9. "rRsao-nnlKr . Carthage- Hempstead—First National Bank 1 to 9. Carthage National Bank 1 to 9. Herkimer—Herkimer National Bank. 1 to 8. National Exchange Bank & Trust Ito9. Highland Falls—First National Bank Ito9. Catskill—Catskill National Bank____ 1 to 8. tx. 1 ruoI v^O. Cazenovia—Cazenovia National Ito9. HooFsiicrks t FNaaltliso-nal Bank 1 to 9. Bank. Peoples National Bank 1 to 8. Cedarhurst—Peninsula National 1 to 9. Hornell— Bank, Citizens National Bank & Trust 1 to 9. Central Square—First National Bank. 1 to 9. Co. Central Valley—Central Valley Na- Ito9. First National Bank Ito9. tional Bank. Hudson— Chester—Chester National Bank 1 to 9. Farmers National Bank 1 to 9. Clayton—First National Exchange Ito9. First National Bank & Trust Co_ Ito9. xi_iIU 11Q s3S Qo on~n -TLi *aQi 1i1b o— Clyde—Briggs National Bank & Ito9 Peoples National Bank 1 to 9. Trust Co. Sandy Hill National Bank 1 to 9. Cohoes—National Bank of Cohoes.-. 1 to 8. Huntington—First National Bank & Ito9. Cooperstown— Trust Co. First National Bank 1 to 9. Ilion- Second National Bank 1 to 8. Ilion National Bank & Trust Co. 1 to 9. Corning—First National Bank & 1 to 8. Manufacturers National Bank 1 to 9. Trust Co. Irvington—Irvington National Bank Ito9. Cortland— & Trust Co. National Bank of Cortland 1 to 9. Islip—First National Bank 1 to 9. Second National Bank & Trust Ito9. Ithaca—First National Bank Ito9. Co. Jamestown- Cuba- American National Bank Ito9. Cuba National Bank 1 to 9. National Chautauqua County 1 to 8. First National Bank.. 1 to 9. Bank. Delhi—Delaware National Bank 1 to 9. Kenmore—First National Bank 1 to 9. Dolgeville—First National Bank 1 to 9. Kingston- Dover Plains—Dover Plains Na- 1 to 9. First National Bank of Rondout. Ito9. tional Bank. National Ulster County Bank & 1 to 9. D unk irk— rl"rr>«ui-is (7t,4 - ft*yo *.\ Lake Shore National Bank 1 to 9. Rondout National Bank Ito9. Merchants National Bank 1 to 8. Stateof New York National Bank. 1 to 9. East Rockaway—East Rockaway Ito9. Lackawanna—Lackawanna National 1 to 9. National Bank & Trust Co. Bank. Edwards—Edwards National Bank.. 4. Larchmont—Larchmont National Ito9. Ellenville—First National Bank & 1 to 9. Bank & Trust Co. Trust Co. Liberty—Sullivan County National 1 to 9. Elmira—First National Bank & Trust Ito9. Bank. Co. Little Falls—Little Falls National 1 to 9. Fairport—Fairport National Bank & 1 to 9. Bank. Trust Co. Livonia—Stewart National Bank & Ito9. Farmingdale—First National Bank _. 1 to 9. Trust Co. Far Rockaway—National Bank of 4. Lockport—Niagara County National 1 to 9. Far Rockaway. Bank & Trust Co. Floral Park—First National Bank 1 to 9. Lowville—Black River National 1 to 9. AoTt ^xP frnuosf t (u~o^. f\ Bank. Fonda—National Mohawk River 1 to 8. Lyn brook— Bank. Lynbrook National Bank & 1 to 9. Fort Plain—Fort Plain National 1 to 9. Trust Co. Bank. Peoples National Bank & Trust 1 to 9. Frankfort—Citizens First National 1 to 9. Co. Bank. Malone—Farmers National Bank.__ 1 to 9. Fredonia—National Bank of Fre- 1 to 9. Mamaroneck—First National Bank 1 to 9. Digitized for dFoRnAiaS.ER & Trust Co. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

318 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 2—Continued NEW YOIIK—continued NEW YORK—continued Manhasset—First National Bank & Ito9. Ovid—First National Bank 4. Trust Co. Owego— Massena—First National Bank & 1 to 9. First National Bank 1 to 9. Trust Co. Owego National Bank 1 to 9. Mattituck—Muttituck National 1 to 9. Patchogue—Peoples National Bank. 1 to 9. Bank & Trust Co. Pearl River—First National Bank & I to 9. Merrick—First National Bank _ Ito9. Trust Co. Middletown— Peekskill— First National Bank & Trust Co. Ito9 Peekskill National Bank „. 1 to 9. Merchants National Bank 1 to 9 Westchester County National 1 to 9. Mineola—First National Bank 1 to 9 Bank. Monticello—National Union Bank of 1 to 9. Pelham—Pelham National Bank 1 to 9. Monticello. Perry—First National Bank I to 9. Morristown—Frontier National 4. Plattsburg— Bank. Merchants National Bank 1 to 9. Mount Kisco—Mount Kisco Na- 1 to 9. Plattsburg National Bank & 1 to 5, 7 to$] tional Bank <!fc Trust Co. Trust Co. Mount Morris— Genesee River Na- Ito9. Pleasantville—First National Bank__ 1 to 9. tional Bank <fc Trust Co. Port Chester—First National Bank 1 to 9. Mount Vernon—First National Bank. Ito8. & Trust Co. Newburgh— Highland Quassaick National 1 to 9. Port Henry—Citizens National Bank. 1 to 9. & Trust (Do. Port Jervis— National Bank of Newburgh Ito9. First National Bank... 1 to 9. New Rochelle— National Bank & Trust Co. of 1 to 9. Central National Bank 1 to 9. Port Jervis. National City Bank 1 to 9. Port Richmond—Staten Island Na- 1 to 9. New York- tional Bank & Trust Co. Bank of America National Asso- Ito9. Port Washington—Port Washington 1 to 9. ciation. National Bank & Trust Co. Brooklyn National Bank of New Ito9. Potsdam—Citizens National Bank... 1 to 9. York. Poughkeepsie— Chase National Bank Ito9. Fallkill National Bank & Trust 1 to 9. Chatham & Phenix National 1 to 9. Co. Bank & Trust Co. Farmers & Manufacturers Na- 1 to 9. Commercial National Bank & Ito9. tional Bank. Trust Co. First National Bank 1 to 9. Dunbar NE.tional Bank 1 to 9. Merchants National Bank & I to 9. First National Bank _ 1 to 9. Trust Co. Fort Greene National Bank 1 to 9. Red Hook—First National Bank 1,2, and & Grace National Bank Ito9. Richfield Springs—First National 1 to 9. Harriman National Bank & Ito9. Bank. Trust Co. Riverhead—Suffolk County National 1 to 9. Industrial National Bank 1 to 9. Bank. I Kingsboro National Bank of 1 to 9. Rochester—First National Bank & i 1 to 9. Brooklyr. in New York. Trust Co. ! Lafayette National Bank of Ito9. Rockville Center— Brooklyr, in New York. First National Bank 1. Liberty National Bank & Trust 1 to 9. Nassau County National Bank__ 1 to 9. Co. Rome—Farmers National Bank & 1 to 9. National City Bank_ Ito9. Trust Co. National E xchange Bank & Trust Ito9. Roscoe—First National Bank & 1 to 9. Co. Trust Co. National Safety Bank & Trust Co.1 to 9. Roslyn—Roslyn National Bank & 1 to 9. Public National Bank & Trust 1 to 9. Trust Co. Co. Rye—Rye National Bank 1 to 9. Seward National Bank & Trust Ito9. St. Johnsville—First National Bank— 1 to 9. Co. Salamanca—First National Bank 1 to 9. Sterling National Bank & Trust Ito9. Saranac Lake—Adirondack National 1 to 9. Co. Bank & Trust Co. Straus National Bank & Trust Ito9. Saratoga Springs—Saratoga National 1 to 9. Co. Bank. Northport—First National Bank & 1 to 9. Saugerties—First National Bank & 1 to 9. Trust Co. Trust Co. Norwich— Sayville—Oystermens National Bank 1 to 9. Chenango County National Bank 1 to 8. Scarsdale—Scarsdale National Bank 1 to 9. & Trust Co. & Trust Co. National Eank & Trust Co Ito9. Schenectady— Nyack—Nyack National Bank 1 to 9. Mohawk National B ank 1 to 9. Olean— Union National Bank. Ito9. Exchange National Bank 1 to 9. Sidney—Sidney National Bank 1 to 9. First National Bank.__ Ito9. Silver Creek—Silver Creek National 1 to 9. Oneida—Oneida Valley National Ito9. Bank Bank. Skaneateles—National Bank & Trust 1 to 9. Oneonta— Co. Citizens National Bank & Trust Ito9. Southampton—First National Bank- 1 to 8. Co. Spring Valley—First National Bank. 1 to 9. Wilber National Bank Ito9. Springville—Citizens National Bank. 1 to 9. Ossining—First National Bank & Ito9. Stamford—National Bank of Stam- 1 to 9. Trust Co. ford. Oswego—First & Second National Ito9. Suffern—Suffern National Bank & 1 to 9. Digitized for FBRaAnkS E&R T rust Co. Trust Co. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 319 Powers Powers granted granted DISTRICT NO. 2—Continued DISTRICT NO. 3—Continued NEW YORK—continued NEW JERSEY—continued Syra L c in u c s o e l - n National Bank & Trust 1 to 9. Be ti a o c n h a l H B a a v n e k n — & B T e r a u c s h t C H o a . ven Na- Ito9. M C er o c . hants National Bank & 1 to 9. Be T v r e u r s ly t — Co F . irst National Bank & Ito9. Sa T lt r u S s p t r i C n o g . s National Bank Ito9. Bl T ac r k u w st o o C d o — . First National Bank & Ito9. Ta B rr a y n t k o . wn—Tarrytown National Ito3,5to9. B B r o id rd g e e n to to n w — n—First National Bank._ Ito9. Ticonderoga—Ticonderoga National Ito9. Bridgeton National Bank Ito9. Tr B o a M y n - k an . ufacturers National Bank... Ito9. Burl F in a t g r io t m o n n e a — r l s B M a a e n n c k d h . an M ics e rch N an a t t s i on N a a l - 1 It o to 9 9 . . Tuck N U a n a h t i o i o o e n n — a N l F a C i t r i s i o t t n y a N B l a a B t n i a o k n n k al Bank & I I I t t t o o o 9 9 9 . . . Ca B m a A d n e m k n . e — rican National Bank 1 to 9. Trust Co. First Camden National Bank & Ito9. T U u ti x c e a d — o— On T e u id x a e do N N at a i t o i n o a n l a l B B a a n n k k & 1 1 t t o o 9 9 . . Th T i r r u d s N t C at o io . nal Bank & Trust Co.Ito9. Trust Co. Cape May—Merchants National 4. Valley Stream—Valley Stream Na- ltoS. Bank. tional Bank & Trust Co. Collingswood — Collingswood Na- Ito9. Walden—First National Bank & Ito9. tional Bank. W T al r t u o s n t — C F o i . rst National Bank & Ito9. E G l l m as e s r b — oro F — irs F t i N rs a t ti N o a n t a io l n B a a l n B k ank I I t t o o 9 9 . . W T ar r r u e s n t s C bu o r . g—Emerson National Ito9. Ha B d a d n o k n . field—Haddonfield National Ito9. Bank. Hightstown—First National Bank... Ito9. Warsaw—Wyoming County Na- 1 to 9. Hopewell—Hopewell National Bank. Ito9. tional Bank. Lakewood—Peoples National Bank.. 1 to 9. Warwick—First National Bank Ito9. Medford—Burlington County Na- Ito9. Watertown— tional Bank. Jefferson County National Bank Ito9. Merchant ville—First National Bank Ito9. Watertown National Bank Ito8. Watervliet—National Bank of Water- Ito9. M & ill v T i r l u le st - Co. W W v a e l v l i C F l e e s i r t i v r l t . y i i s l z t l — e e N — ns a C t N i i o t a i n z ti a e o l n n s B a N l a B n at k a io n .. n k . al Bank.. 1 I I t t o o to 9 9 . . 9. Mou M M M U n n e t i o l i c u o l H h v n n a i o t l n l l N H e i l c y a o N s t - l i l N a o y t n i a N o t a i n l o a a t n B i l o a B a l n n a a B k n l a k B n & a k n . T _ k rust _. 1 I I I t t t o o o to 9 9 9 . . . 8. Westbury—Wheatley Hills National Ito9. W B es a t n fl k el . d—National Bank of West- Ito9. Ne T w ru E s C t g o y C . p o t— . First National Bank & Ito9. W f h ie it l e d h . all—Merchants National Ito9. Ocea F n ir s C t i N ty a - tional Bank 1 to 7 and 9. W B hi a t n e k . Plains—Peoples National Ito9. Paul O sb c o ea ro n — C F it i y rs N t a N ti a o t n io a n l a B l a B nk ank & Ito9. Yo B n a C k n e e k r n s — t & ra l T N ru a s ti t o C na o l . Bank Ito9. Pe T m ru be s r t to C n o — . Peoples National Bank. Ito9. First National Bank & Trust Co. 1 to 9. & Trust Co. Ito9. Yonkers National Bank & Trust Ito9. Penns Grove—Penns Grove National Co. Bank & Trust Co. 1 to 9. Pitman—Pitman National Bank & DISTRICT NO. 3 Trust Co. Ito9. Pleasantville—Pleasantville National DELAWARE Bank. Ito9. Delmar—First National Bank 1 to 8 Point Pleasant Beach- Dover—First National Bank Ito9 Ocean County National Bank. Ito8. Harrington—First National Bank Ito9. Point Pleasant Beach National 1 to 9. Laurel—Peoples National Bank 1 to8. Bank & Trust Co. Milford—First National Bank & 1 to 9. Princeton—First National Bank 1 to 9. Trust Co. Roebling—First National Bank & 1 to 9. Seaford—First National Bank 1 to 8. Trust Co. Smyrna- Salem— Fruit Growers National Bank & Ito9. City National Bank & Trust Co. Ito9. Trust Co. Saiem National Bank & Trust Ito9. National Bank of Smyrna Ito9. Co. Wilmington- Swedesboro—Swedesboro National Ito9. Central National Bank 1 to 9. Bank. Union National Bank Ito9. Toms River—First National Bank.. Ito9. Trenton- NEW JERSEY Broad Street National Bank Ito9. First-Mechanics National Bank_. 1 to 9. (See also District No. 2) Prospect National Bank 1 to 9. Absecon—First National Bank 1 to 9. Ventnor City—Ventnor City Na- Ito9. Atlantic City— tional Bank. Atlantic City National Bank 1 to 4. Vineland—Vineland National Bank Ito9. Chelsea National Bank Ito9. & Trust Co. Pacific Avenue National Bank._. Ito9. Wildwood—Marine National Bank. Ito9. Second National Bank Ito9. Woodbury—First National Bank & Ito9. Union National Bank Ito3. Trust Co. Audubon—Audubon National Bank. Ito9. Woodstown—Woodstown National Ito9. Digitized forB FaRrnAegSatE—RF irst National Bank Ito9. Bank & Trust Co. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

320 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 3-Continued DISTRICT NO. 3—Continued PENNSYLVANIA PENNSYLVANIA—continued (See also District No. 4) Ebensburg—First National Bank Ito9. Allentown— Edwardsville—Peoples National 1 to 9. Allentown National Bank 1 to 9. Bank. Merchants Citizens National 1 to 9. Elizabethtown—First National Bank 1 to 9. Bank & Trust Co. & Trust Co. Second National Bank 1 to 9. Emaus—Emaus National Bank Ito9. Altoona— Emporium—First National Bank 1 to 9. First National Bank Ito9. Ephrata— Second National Bank Ito9. Ephrata National Bank—_ 1 to 9. Ambler—First National Bank 1 to 9. Farmers National Bank 1 to 9. Annville—Annville National Bank.. Ito9. Fleetwood—First National Bank & Ito9. Ashland—The Ashland National Ito9. Trust Co. Bank. Frackville—First National Bank & 1 to 9. Ashley—First National Bank Ito9. Trust Co. Atglen—Atglei National Bank Ito3. Gap—Gap National Bank & Trust Co.Ito9. Avoca—First National Bank _. 1 to 9. Gettysburg— Bangor— First National Bank... Ito9. First NatiDnal Bank Ito9. Gettysburg National Bank 1 to 9. Merchants National Bank 1 to 9. Greencastle—First National Bank... Ito9. Bedford- Hamburg—First National Bank & Ito9. Farmers National Bank & Trust Ito9. Trust Co. Co- Harrisburg—Harrisburg National Ito9. First National Bank & Trust Co.. 1 to 9. Bank. Bellefonte—First National Bank Ito9. Hatfield—Hatfield National Bank & Ito9. Belleville—Belleville National Bank. Ito9. TruwtCo. Berwick- Hazleton— Berwick National Bank Ito9. First National Bank Ito9. First National Bank 1 to 9. Hazleton National Bank Ito9. Berwyn—Bervyn National Bank 1 to 9. Honesdale—Honesdale National Ito9. T.DReofihn B lioeV e ni t oe h mm le — h • em National Bank 1 to 9. Ho "JOR n ft e tlDn y lKr b . rook—First National Bank— 1 to 9. First National Bank & Trust Co. 1 to 9. Houtzdale—First National Bank 1 to 9. Lehigh Valley National Bank 1 to 8. Hummelstown—Hummelstown Na- 1 to 9. Blossburg—Citizens National Bank Ito9. tional Bank. & Trust Co. Huntingdon- Boyertown— First National Bank Ito9. Farmers National Bank & Trust Ito9. Union National Bank & Trust Co. 1 to 8. Co. Jenkintown—Citizens National 1 to 7 and 9. National Bank & Trust Co Ito9. Bank. Brad ford—C c mmercial National 1 to 9. Johnstown- Bank. First National Bank 1 to 8. Bridgeport—Bridgeport National Ito9. Moxham National Bank 1 to 9. Bank. Kane—First National Bank. __ 1 to 9. Bristol—Farmers National Bank of 1 to 9. Kennett Square—National Bank & 1 to 9. Bucks County. Trust Co. of Kennett Square. Catasauqua— Kutztown—Kutztown National Ito9. Lehigh National Bank Ito9. Bank. National Bank of Catasauqua 1 to 9. Lancaster— Chambersbui g— Conestoga National Bank _ 1 to 9. National Bank of Chambersburg. 1 to 9. Fulton National Bank 1 to 9. Valley National Bank Ito9. Lancaster County National Bank- 1 to 9. Chester— Langhorne—Peoples National Bank 1 to 9. Delaware County National Bank. Ito9. & Trust Co. First National Bank Ito9. Lansdale—First National Bank 1 to 9. Clearfield— Lansdowne—National Bank of Lans- Ito9. Clearfield National Bank Ito9. downe. County National Bank Ito9. Lebanon- Ooatesville— First National Bank 1 to 9. National Bank of Chester Valley.. Ito9. Lebanon National Bank 1 to 9. National Bank of Coatesville.. Ito9. Peoples National Bank 1 to 9. ooju C m e D nt ia r — al National Bank.. 1 to 9. Lj6iii C gi i i t c i o z ii e — ns " National Bank & Trust Ito9. First Columbia National Bank._ Ito9. Co. Conshohocken—First National Bank- 1 to 9. First National Bank Ito9. Dallastown- First National Bank & 1 to 9. Lewisburg— Trust Co. Lewisburg National Bank Ito9. Danville- Union National Bank _ Ito9. Danville National Bank 1 to 9. Lewistown— First National Bank 1 to 9. Citizens National Bank Ito9. Darby—Firs; National Bank _ I to 9. Miffiin County National Bank___ Ito9. Doylestown—Doylestown National 1 to 9. Russell National Bank Ito9. Bank & Tiust Co. Lititz—Farmers National Bank. Ito9. Du Bois— Littlestown—Littlestown National 1 to 9. Deposit National Bank 1 to 9. Bank. Du Bois National Bank _ 1 to 9. Lock Haven—First National Bank— Ito9. East Strouduburg—Monroe County 1 to 9. Luzerne—Luzerne National Bank 1 to 9. National Eank & Trust Co. Mahanoy City- Easton— First National Bank 1 to 9. Easton National Bank 1 to 9. Union National Bank Ito8. First National Bank & Trust Co. Ito9. Malvern—National Bank of Malvern. 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

321 FIDUCIARY POWERS Powers Powers granted granted DISTRICT NO. 3—Continued DISTRICT NO. 3—Continued PENNSYLVANIA—continued PENNSYLVANIA—continued Manheim— Philadelphia—Continued. Keystone National Bank Ito9. Tradesmens National Bank & Ito9. Manheim National 1 Bank 1 to 9. Trust Co. Marietta—Exchange National Bank— Ito4. Tulpehocken National Bank & Ito9. Mauch Chunk—Mauch Chunk Na- Ito9. Trust Co. M i a io y n to ai w r n sa — iiK M . aytown National Bank Ito4. r nii F ip ir s s D t u N rg a — tional Bank 1 to 9. Mechanicsburg—Second National Ito9. Moshannon National Bank 1 to 9. "HRuaTnllKr. Ito9. Farmers and Mechanics Na- ltoS. MMeildlhiae—imF—irsFta rNmaetrios naNl aBtiaonnkal Bank Ito9. tional Bank. & Trust Co. National Bank of Phoenixville... 1 to 9. Milton—First Milton National Bank. 1 to 9. Pine Grove—Pine Grove National Ito9. Montoursville — First National 1 to 9. Bank. Bank. Pittston—First National Bank Ito9. Montrose—First and Farmers Na- 1 to 9. Liberty National Bank Ito9. tional Bank & Trust Co. Plymouth—First National Bank 1 to 9. Mount Carmel— Port Allegany—First National Bank_ 1 to 9. First National Bank Ito9. Pottstown— Union National Bank 1 to 9. Citizens National Bank & Trust Ito9. Amount Jov— First National Bank & Trust Co. Ito9. National Bank of Pottstown 1 to 9. Union National Mount Joy Bank. 1 to 9. National Iron Bank 1 to 9. Mountville—Mountville National 1 to 4. x oit M sv e ii r i c e h — ants National Bank Ito9. Bank. Miners National Bank 1 to 9. Myerstown—Myerstown National Ito9. Pennsylvania National Bank & 1 to 9. Bank. Trust Co. Nanticoke— Reading- First National Bank... 1 to 9. Farmers National Bank & Trust Ito9. Nanticoke National Bank 1 to 9. Co. Nazareth—Nazareth National Bank Ito9. Penn National Bank & Trust Co.1 to 9. & Trust Co. Reading National Bank & Trust 1 to 9. New Holland- Co. Farmers National Bank & Trust Ito9. Red Lion- Co. Farmers & Merchants National Ito9. New Holland National Bank 1 to 5 and 9. Bank. Newtown—First National Bank & 1 to 7 and 9. First National Bank & Trust Co. 1 to 9. Trust Co. Ridgway—Ridgway National Bank.. 1 to 9. Newville—First National Bank Ito9. Sayre—First National Bank 1 to 9. Norristown— Schuylkill Haven—First National 1 to 9. Montgomery National Bank Ito9. Bank & Trust Co. Peoples National Bank Ito9. Schwenksville—National Bank of 1 to 9. Northampton—Cement National 1 to 8. Scranton— Bank of Siegfried. First National Bank.. 1 to 9. Northumberland—Northumberland 1 to 9. Third National Bank & Trust Co.1 to 9. National Bank. Union National Bank 1 to 9 Oley—First National Bank. _ 1 to 9. Selinsgrove—First National Bank 1 to 9 Orwigsburg—First National Bank Ito9. Shamokin— & Trust Co. Market Street National Bank t toO. Oxford—National Bank of Oxford 1 to 9. National Bank of Shamokin 1 to 9. Palmerton—First National Bank 1 to 9. Shenandoah—Merchants National Ito9. Patton—First National Bank 1 to 9. Bank. Pen Argyl—First National Bank Ito9. Shickshinny—First National Bank... 1 to 3, 5 to 8. Philadelphia- Shippensburg— Central Penn National Bank 1 to 9. First National Bank 1 to 9. City National Bank & Trust Co 1 to 9. Peoples National Bank 1 to 9. Commercial National Bank & 1 to 9. Smethport—Grange National Bank 1 to 9. Trust Co. of McKean County. Corn Exchange National Bank 1 to 9. Souderton—Union National Bank & 1 to 9. Er o i p_ e c r N pi— r a -u.- t lo i st o -t n Ou a rok l . Bank.. Ito9. Sp i r r in u g st C u it o y . —National Bank & Trust 1 to 9. First National Bank 1 to 9. Co. Kensington National Bank 1 to 3, 5 to 9. State College- Market Street National Bank 1 to 7 and 9. First National Bank _ 1 to 9. Mount Airy National Bank & 1 to 9. Peoples National Bank 1 to 9. Trust Co. Stroudsburg— National Bank of Germantown 1 to 8. First National Bank 1 to 9. & Trust Co. Stroudsburg National Bank 1 to 9. National Bank of Olney in Phila- 1 to 9. Sunbury—First National Bank 1 to 9. delphia. Swarthmore—Swarthmore National 1 to 9. North Broad National Bank 1 to 9. Bank & Trust Co. Northeast National Bank & Ito9. Tamaqua— Trust Co. First National Bank 1 to 9. Northwestern National Bank & Ito9. Tamaqua National Bank Ito9. Trust Co. Tioga—Grange National Bank 1 to 4. Over brook National Bank _ Ito9. Topton—National Bank of Topton... Ito4. Philadelphia National Bank 1 to 9. Towanda—Citizens National Bank.. 1 to 9. Second National Bank Ito9. Tyrone- Sixth National Bank 1 to 9. Blair County National Bank & Ito9. Southwestern National Bank 1 to 8. Trust Co. Digitized for FRTAioSgEa RN ational Bank & Trust Co.Ito9. First National Bank 1 to 9. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

322 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 3—Continued DISTRICT NO. 4—Continued BENNSYLVA NiA—continued KENTUCKY—continued Watsontown—-F irmers National 1 to 9. Williamsburg—First National Bank.. Ito4. Bank. Winchester—Clark County National 1 to5, 7 to9. Way C n i e t s iz D e o n r s o N ~~ ational Bank & Trust Ito9. Bank OHIO to. First National Bank & Trust Co. 1 to 9. Alliance—Alliance First National Ito9. Weatherly—First National Bank 1 to 9. Ashtabula— Wernersville—Wernersville National 1 to 9. Farmers National Bank 1 to 9. Bank & Trust Co. National Bank of Ashtabula 1 to 7 and 9. West Chester- Athens- First National Bank Ito9. Athens National Bank. 1 to 7 and 9. National Bank of Chester County 1 to 9. Bank of Athens, N. B. A 1 to 7 and 9. & Trust Co. Bellaire—First National Bank 1, 3,4,5, and West Grove—National Bank & Trust 1 to 9. 9. Co. Bradford—First National Bank 1 to 7 and 9. Wilkes-Barre— Cadiz—Fourth National Bank 1 to 7 and 9. Second National Bank 1 to 9. Cambridge—Central National Bank- 1 to 7 and 9. Wyoming National Bank 1 to 9. Canton—First National Bank. 1 to 7 and 9. Williamsport— Cincinnati- First Natior.al Bank Ito9. Atlas National Bank.. 1 to 9. Williamsport National Bank 1 to 9. First National Bank 1 to 7 and 9. Wrightsville—First National Bank... 1 to 9. Lincoln National Bank 1 to 9. York- Second National Bank 1 to 7 and 9. Central National Bank 1 to<>. Circleville—First National Bank. .. 1 to 7 and 9 Drovers and Mechanics National 1 to 9. Cleveland- t Bank. Central United National Bank... 1 to 7 and 9. First National Bank 1 to 9. National City Bank 1 to 7 and 9. Industrial National Bank of 1 to 9. Columbus- West York. City National Bank & Trust Co. 1 to 7 and 9. Western National Bank 1 to 9. Huntington National Bank 1 to 7 and 9. York County National Bank 1 to 9. Ohio National Bank 1 to 7 and 9. York National Bank & Trust Co. Ito9. Coshocton— Commercial National Bank 1 to 7 and 9. DISTRICT NO. 4 Coshocton National Bank Ito9. KENTUCKY Day M ton e — rchants National Bank & 1 to 9. (See also District No. 8) Trust Co. Ashland— Third National Bank & Trust 1 to 7 and 9 Ashland National Bank. 1 to 5,7 to 9. Co. Second National Bank 1 to 5, 7 to 9. Winters National Bank & Trust Ito9. Third National Bank 1 to 5, 7 to 9. Co. Brooksville—First National Bank..., 1 to 4. East Liverpool—First- National Bank 1 to 7 and 9. Covington—First National Bank & 1 to 9. Findlay—First National Bank & 1 to 7 and 9. Cy l n r t u h s i t a n v a . — o. Fo i s t r o u r s i e a — K^O U . nion National Bank 1 to 7 and 9. Farmers National Bank _. Ito9. Greenville—Second National Bank... 1 to 7 and 9. National Bunk of Cynthiana 1 to 5. 7 to 9. Hamilton— Georgetown- First National Bank & Trust 1 to 7 and 9. First National Bank Ito9. Co. Georgetowr National Bank 1 to 5, 7 to 9. Second National Bank.. Ito9. Harian— Hillsboro—Merchants National Bank 1 to 7 and 9. Citizens National Bank Ito9. Lancaster—Fairfield National Bank.. 1 to 7 and 9. Harian National Bank 1 to 5, 7 to 9.Lebanon—Lebanon-Citizens National 1 to 7 and 9 Lexington— Bank & Trust Co. Fayette National Bank 1 to 8. Lima—Old National City Bank 1 to 9. First National Bank & Trust Co. Ito9. Lorain—National Bank of Commerce. 1 to 7 and 9. Ludlow—First National Bank. Ito9. Mansfield—Citizens National Bank 1 to 4 and 9. Middlesboro—National Bank of Ito5, 7 to 9. & Trust Co. Middlesboro. Marietta- Mount Sterling — Citizens National Bank 1 to 7 and 9. Montgomery National Bank Ito8. First National Bank 1 to 7 and 9. Mount Sterling National Bank... 1 to 9. Marion—National City Bank & 1 to 7 and 9. Traders National Bank Ito5, 7 to 9. Trust Co. Newport— Mount Vernon—The Knox National 1 to 7 and 9. American National Bank 1 to 5, 7 to 9. Bank. Newport National Bank 1 to 5, 7 to 9.Newark—Park National Bank _ 1 to 7 and 9. Paintsville— New Philadelphia—Citizens National 1 to 7 and 9. Paintsville National Bank 1 to 5,7 to 9. Bank. Second National Bank 1 to 8. Painesville — Painesville National Ito7. Paris—First National Bank 1 to 5, 7 to 9. Bank & Trust Co. Pike ville—First National Bank 1 to 8. Piqua— Pineville—Bell National Bank 1 to 5, 7 to 9. Citizens National Bank & Trust Ito9. Richmond—Madison Southern Na- Ito9. Co. tional Bank <k Trust Co. Piqua National Bank & Trust 1 to 7 and 9. Saylersville—Saylersville National 2 to 8. Co Bank. Portsmouth— Somerset— Security Central National Bank. 1 to 7 and 9 Farmers National Bank , 1 to 5, 7 to 9. First National Bank 1 to 7 and 9. First Nationnl Bank 1 to 9. Ravenna—Second National Bank 1,4, and 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

323 FIDUCIARY POWERS Powers Powers granted granted DISTRICT NO. 4—Continued DISTRICT NO. 4—Continued OHIO—continued PENNSYLVANIA—continued St. Olairsville—First National Bank._ 1 to 7 and 9. New Kensington—First National ltoS. Sandusky—Third National Exchange Ito9. Bank. Bank. Oakmont—First National Bank 1. Springfield— Oil City- First National Bank & Trust Co._Ito9. First National Bank Ito9. Lagonda-Citizens National Bank. Oil City National Bank Ito9. Steuben ville— 1 to 7 and 9*Pittsburgh— National Exchange Bank & Trust Bank of Pittsburgh, N. A Ito9. Co. 1 to 7 and 9. Diamond National Bank Ito9. Peoples National Bank.. Duquesne National Bank Ito9. Tiffin- 1 to 7 and 9. Exchange National Bank of Pitts- Ito9. Coinmercial National Bank 1 to 7 and 9. burgh. Tiffin National Bank 1 to 7 and 9. Farmers' Deposit National Bank. 4 and 9. Toledo—First National Bank 1 to 7 and 9. First National Bank Ito9. Troy—First Troy National Bank & 1 to 7 and 9. Forbes National Bank Ito9. Trust Co. Highland National Bank Ito9. Urbana—Champaign National Bank- 1 to 7 and 9. Mellon National Bank __ I to 9. Warren—Second National Bank Ito9. Monongahela National Bank Ito8. Wilmington—Clinton County Na- 1 to 7 and 9. National Bank of America at Ito9. tional Bank & Trust Co. Pittsburgh. Wooster—Wayne County National 1 to 9. Second National Bank 1 to 9. Bank. Third National Bank 1 to 9. Youngstown— Union National Bank Ito9. Commercial National Bank 1 to 7 and 9. Punxsutawney—Punxsutawney Na- Ito9. First National Bank tional Bank. Mahoning National Bank 4. Sharon- Zane C sy it i i l z le e — ns National Bank in Zanes- Ito9. F M ir c s D t o N w a e t l i l o n N a a l t i B o a n n a k l Bank I I t t o o 9 8 . . Fi v rs il t l e N . ational Bank 1 to 7 and 9. M N er a c t h io a n n a ts l B a a n n d k . Manufacturers Ito9. 1,4, and 9. Tarentum—First National Bank & 1 to 9. PENNSYLVANIA Trust Co. <See also District No. 3) Titusville—Second National Bank... Ito9. Ar A n r o n ld o — ld. National Deposit Bank of Ito9. Unio N n a to ti w o n n — al Bank of Fayette Ito9. Beaver Falls—First National Bank— Ito9. County Brook ville—Jefferson County Na- Ito9. Second National Bank Ito9. tional Bank. Vandergrift— Citizens National Bank. Ito9. Butler—Butler County National Ito9. Warren- Bank & Trust Co. Citizens National Bank Ito9. Canonsburg—First National Bank__. Ito9. Warren National Bank Ito9. Co T n r n u e s l t l s C vi o ll . e o — f N Co at n io n n e a ll l s vill B e a . nk & Ito9. Washington—Citizens National Bank. 1 7 to , a 3 n , d 5 9 t . o Donora—First National Bank 1 to 9. Waynesburg—First National Bank Ito5,7to9. Eliwood City—First National Bank.. Ito9. <fe Trust Co. Erie- Zelienople—Peoples National Bank Ito4. First National Bank 1 to 9. M Se a co ri n n d e N N a a t t i i o o n n a a l l B B a a n n k k I I t t o o 9 9 . . WEST VIRGINIA Ford City—First National Bank & 1 to9. (See also District No. 5) Trust Co. Franklin—Lamberton National Bank Ito9. Elm Grove—First National Bank Ito9. Greensburg—First National Bank Ito9. Sistersville—Union National Bank... Ito9. Greenville- Wheeling- First National Bank Ito9. National Bank of West Virginia- Ito9. Greenville National Bank Ito9. National Exchange Bank Ito9. Grove City- First National Bank Ito9. DISTRICT NO. 5 Grove City National Bank Ito9. Kn B o a x n — k C o l f a r E io d n e nb C ur o g u . nty National Ito9. DISTBICT OF COLUMBIA Leechburg—First National Bank Ito9. Washington— McKeesport—First National Bank... 1 to 9. Commercial National Bank „ Ito8. Meadville— District National Bank Ito8. First National Bank Ito5,7to9. Federal-American National Bank Ito8. M T er r c u h s a t n C ts o . National Bank & Ito9. Fr & an k T l r i u n s N t C at o io . nal Bank Ito8. Meyersdale—Citizens National Bank- 1 to 9. Liberty National Bank __ Ito8. Monessen— Lincoln National Bank _. Ito8. First National Bank & Trust Co._Ito9. National Bank of Washington Ito8. Peoples National Bank & Trust Ito8. National Capital Bank _ 4. Co. National Metropolitan Bank Ito8. New Bethlehem—First National 1 to 9. Riggs National Bank „_ Ito8. Bank. Second National Bank Ito8. New Brighton—Union National Bank lt0 9. New Castle— Citizens National Bank Ito9. Baltimore- MARYLAND First National Bank of Lawrence lt0 9. First National Bank Ito9. County. Western National Bank I 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

324 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted JDISTRICT NO. 5—Continued DISTRICT NO. 5—Continued M AR YL AN D—con Untied SOUTH CAROLINA—continued Cumberland- Gaffney—Merchants & Planters Na- Ito9. First National Bank Ito9. tional Bank. Second National Bank.. Ito9. Greenville- Denton—Dentor National Bank Ito9, First National Bank __. Ito9. Easton—Easton National Bank Ito9. Peoples National Bank 1 to 9. Frederick- Holly Hill—First National Bank 1 to 3, 5 to 9. Farmers & Mechanics National 1 to 9. Orangeburg—Edisto National Bank._ 1 to 9. Bank. Rock Hill—Peoples National Bank._ Ito9. Frederick County National Bank. Ito9. Spartanburg— Hagerstown— Central National Bank Ito9. First National Bank Ito9. First National Bank Ito9. Nicodemus National Bank Ito9. Sumter—National Bank of South 1 to 9. Second National Bank 1 to 9. Carolina. New Windsor— First National Bank. Ito4. VIRGINIA Pocomoke City—Citizens National Ito9. Bank. A A b le in x g a d n o d n r — ia- First National Bank 1 to 9. Rising Sun—Nat ional Bank of Rising Ito9. Alexandria National Bank Ito9. Sun. Citizens National Bank Ito9. S S T R n a o o t l o i w c i o w s k s n b v o a u H i n l l r — l y i e B l — — l T — an o S M w F k a . l o i s i r n o s s b t n ; g u N o N r m y a a t e i t N o i r o y n a n t a C i a l o l o n B B u a a n l a n t n k B y k a N n a k - . 1 I 1 I t t t o o t o o 9 9 9 . . 3 . . A B B B e l r p a i d p s c f F t a k o o l i s r l a r d — t s c o — t h n D i N e a P o — — a e m o ti F F p o in i l i n r e r i s a s o s t t l n N N N B N a a a a t a t n t i i i o t k o o i n o n n a n a a l l a l l B B B a B a a _ n n n a k k k nk... I 1 I I I t t t t . o o o o 9 9 9 9 . . . . Westminster- Charlottes ville— Farmers & Mechanics National Ito9. National Bank & Trust Co. at Ito9. Fi B rs a t n N k. ational Bank _ Ito9. Pe C op h l a e r s lo N tt a e t s i v o i n ll a e l . Bank Ito9. Williamsport—Washington County 1 to 9. Chase City—First National Bank.... Ito9. National Bank. Clifton Forge- Clifton Forge National Bank Ito9. NORTH CAROLINA First National Bank 1 to 6 and 9 Covington— Asheboro—First National Bank Ito9. Citizens National Bank 1 to 9. As m h e e r v c il e l . e—National Bank of Com- Ito9. Covington National Bank Ito4. Charlotte- Crewe—First National Bank Ito9. D E C l o u i n z rh M C C U c a o a b o h n B e r m e m a d i r o t a r — c — h m n l n h o k C a e F t N . t r C n i o e c a r t n i i s s t t N a c t i y l o o < — a N n r N & t d i a a F o a l t F t n N i i i B r o a a o s a n r l a t n t m a n i a B o l k e l & n B r a B s a n a l a k n C N n B k . k i a _ t a t i _ z i n o e . k . n n . . a . s . l . I I 1 I I 1 1 t t t t t t t o o o o o o o 9 9 9 9 9 9 9 . . . . . D C E Fa m u a i l n r p p A f v F F C e o a i i i p m r x i l T r r t i l e — s s i a e r e z r t t — - u — r e 7 N i N N s n c t S a s a a a t e n t t i N C i i c o o o o o a n n n n N t a . a a i d l o l l a n t B B N B i a o a a l a a n n n n t B i a k k k o l a _ n o n a f k l B F B a a n a ir k n f a k x & I I I 1 I 1 t t t t t t o o o o o o 9 9 9 9 9 9 . . . . . . National Bank. Farm ville— Fayetteville—C imberland National Ito9. First National Bank Ito9. Bank. Peoples National Bank Ito9. Q G o ra ld h s a b m o — ro— Na W tio ay n n a e l N B a a ti n o k n al o B f a A nk la . - .. I I t t o o 9 9 . . Fr B ed a e n r k ic . ksburg—Planters National Ito9. Hi m gh a ne P e o . int—Commercial National Ito9. Ha B m a p n t k o . n—Merchants National Ito9. Bank. Harrisonburg— Mooresville—First National Bank.. Ito9. First National Bank _ Ito9. M Ox o f u o n rd t — A F ir ir y s — t Fi N rs a t ti N on a a ti l o na B l a n B k a n o k. f . I 1 t t o o 9 9 . . N Ro at c i k o i n n a g l h B am an k N a o t f i o H n a a r l r i B so an n k burg. _ I I t t o o 9 9 . . Granville at Oxford. Leesburg— Raleigh—Commercial National Bank. Ito9. Loudoun National Bank. Ito9. R R o ei c d k s y v ille M — o F u i n r t s — it P N l a a t n io te n r a s l B N a a n t k ional I 1 t t o o 9 9 . . Lex P in e g op to le n s - National Bank Ito9. Bank & Trus: Co. First National Bank 1 to 9. Salisbury—First National Bank Ito9. Peoples National Bank 1 to 9. Snow Hill—National Bank of Snow 7. Rockbridge National Bank... Ito9. Hill. Lovingston—First National Bank of Ito9. Thomasville— First National Bank.. Ito9. Nelson County. Wadesboro—First National Bank... Ito9. Lynchburg— W W B i i l n s a s o n t n o k — n - & S F a T ir le s r t u m s N t — a C t F i o o a . n rm al e B rs a nk National 1 It o to 9 9 . . L Fi y T r n s r t c u h N s b t a u C t r i g o o . na N l a B ti a o n n k al . .. Bank & I 1 t t o o 9 9 . . Marion—Marion National Bank Ito9. SOUTH CAROLINA Marshall—Marshall National Bank 1 to 9. Anderson—Carolina National Bank Ito9. & Trust Co* Camden—First National Bank Ito9. Martinsville— Charleston- First National Bank Ito9. Atlantic National Bank Ito9. Peoples National Bank 1 to 4. South Carolina National Bank.. Ito9. Narrows—First National Bank Ito9. Chester—Peoples National Bank Ito9. Newport News—First National Bank Ito9. Columbia—National Loan & Ex- 1 to 9. Norfolkchange Bank Norfolk National Bank of Com- Ito9. Elloree—First National Bank Ito9. merce and Trusts. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

325 FIDUCIARY POWERS Powers Powers granted granted DISTRICT NO. 5—Continued DISTRICT NO. 5—Continued VIRGINIA—continued WEST VIRGINIA—continued Norfolk—C ontinued. Huntington—First Huntington Na- Ito9. Seaboard Citizens National Bank_ Ito9. tional Bank. Virginia National Bank 1 to 9. Logan—First National Bank I to 9. Norton- Madison—Boone National Bank Ito4. First National Bank Ito9. Martinsburg—Old National Bank 1 to 9. National Bank of Norton to 9. Montgomery—Montgomery National Ito9. Orange- Bank. Citizens National Bank 1 to 9. Moorefleld—South Branch Valley 1 to 3, 5 to 9. National Bank of Orange Ito9. National Bank. Petersburg- Morgan town—Second National Ito9. National Bank of Petersburg 1 to 9. Bank. Virginia National Bank 1 to 9. Parkersburg— Phoebus—Old Point National Bank. 1 to 9. First National Bank Ito9. Portsmouth—American National 1. Parkersburg National Bank 1 to 9. Bank. St. Marys—First National Bank Ito9. Pulaski— Welch—McDowell County National Ito9. Peoples National Bank Ito9. Bank. Pulaski National Bank 1 to 9. Williamson— Radford—Farmers and Merchants 1 to 9. First National Bank 1 to 9. National Bank. National Bank of Commerce Ito9. Richmond- Central National Bank Ito9. DISTRICT NO. 6 First & Merchants National 1 to 9. Bank. ALABAMA Roanoke— Colonial American National Bank Ito9. Albertville—Albertville National Ito9. First National Exchange Bank.... Ito9. Bank. Rocky Mount—Peoples National Ito9. Andalusia—Andalusia National 1,2,3, and 5. Bank. Bank. Salem—Farmers National Bank Ito9. Anniston— South Boston- Anniston National Bank 1 to 7, and 9. Boston National Bank Ito9. Commercial National Bank 1 to 5, 7 Planters & Merchants First Ito9. and 9. National Bank. First National Bank 1 to 8. Stanley—Farmers & Merchants Na- Ito9. Bessemer—First National Bank in 1 to 8. tional Bank. Bessemer. Staunton— Birmingham—First National Bank_. 1 to 9. Augusta National Bank Ito9. Cullman—Leeth National Bank 1 to 4. National Valley Bank 1 to 9, Deeatur—Morgan County National 1,2,3, and 5. Staunton National Bank & Trust-1 to 9. Bank. Co. Dothan— Strasburg— First National Bank 1 to 8. First National Bank .__ 1 to 9. Houston National Bank 1 to 9. Massanutten National Bank Ito9. Fayette—First National Bank Ito9. Suffolk—National Bank of Suffolk. _.1 to 9. Florence—First National Bank 1 to 8. Warrenton—Fauquier National 1 to 9. Fort Payne—First National Bank.__ 1. Bank. Gadsden— Waynesboro—First National Bank Ito9. First National Bank 1 to 3. Winchester- Gadsden National Bank 1 to 8. Farmers & Merchants National 1 to 9. Greenville—First National Bank I Bank & Trust Co. Mobile- Shenandoah Valley National Ito9. American National Bank & Trus tIto9. Bank. Co. Wytheville—First National Farmers Ito9. First National Bank 1 to 9 Bank. Merchants National Bank 1 to 9. Mobile National Bank Ito9. WEST VIRGINIA Montgomery- Alabama National Bank 1 to 9. (See also District No. 4) First National Bank 1 to 9. Oneonto—First National Bank 1 to 3, 5 to 9. Beckley— Opelika— Beckley National Bank _. Ito9. Farmers National Bank __ Ito9. National Exchange Bank. 1 to 9, First National Bank 1 to 7. Bluefield— Opp—First National Bank 1 to 9. Bluefield National Bank 1 to 9. Oxford—First National Bank 1 to 8. First National Bank 1 to 9. Piedmont—First National Bank Ito3. Flat Top National Bank 1 to 9. Selma—City National Bank 1 to 8. Charleston—Charleston National 1 to 9. Sylacauga—Merchants & Planters Ito9. Bank. National Bank. Clarksburg- Talladega— Empire National Bank 1 to 9. Isbell National Bank 1 to 3, 5 to Merchants National Bank 1 to 9. 7, and 9. Union National Bank. 1 toP Talladega National Bank 1 to 9. Fairmont—National Bank of Fair- Ito9. Troymont. Farmers and Merchants Na- 1 to 7 and 9. Fairview—First National Bank Ito4. tional Bank. Graf ton—First National Bank 1 to 9. First National Bank 1. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

326 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 6-Continued DISTRICT NO. 6—Continued AL ABA MA—continued GEORGIA—continued Tuscaloosa— Statesboro—First National Bank Ito9. City National Bank 1 to 8, Thomasville—First National Bank... Ito9. First National Bank 1 to 8. Winder—Winder National Bank Ito9. Wetumpka—First National Bank 1 to 9. LOUISIANA FLORIDA (See also District No. 11) Bradenton—First National Bank Ito4. Da ti y o t n o a n l a B B an e k a . ch- First Atlantic Na- Ito9. H La am F m ay o e n tt d e — — Citizens National Bank. Ito9. De Funiak Springs—First National 1 to 8. Commercial National Bank Ito9. Fo B rt a n M k y . ers—First National Bank... 1 to 9. Lake F i C rs h t a r N le a s t — ional Bank Ito9. J L M a a c i k a k A e B F m s l o a t C i o l — r n a r i n i t n v d y e F t i — a t i l i t c l r e s N N F N t - a i a N r a t t s i t i o a i t o o t n n N i n o a a a a l n l l t a B i B o B l a n a B a n n a n k a k l k n B k a .. n _ k 1 1 1 I 1 t t t t t o o o o o 9 9 9 9 9 . . . . . Ne B w a F C n i O a k C r l s c . r h t l a e a s N a r i n l e a e s u t s — i . o N n W a a t l i h o i B t n n a a e n l y k B a N nk a a t t i o L n ak a e l I I I t t t o o o 9 9 9 . . . Miami Beach—Miami Beach First 1 to 9. MISSISSIPPI National Bank. (See also District No. 8) Ocala—Munroe & Chambliss Na- Ito9. Or t T i la o r n u n d s a t o l — C B o a F . n ir k s . t National Bank & Ito9. B C i a l n o t x o i— n— F F irs ir t s t N N at a io ti n o a n l a l B B an a k nk I I t t o o 5 4 . . Palatka—Putnam National Bank... Ito9. H G a u t lf ti p e o s r b t— urg — First National Bank Ito9. P Pe a n n s a a m co a l a C — ity C — itiz F e i n rs s t N & a t P io e n o a p l le B s a N nk a- .. 4. Commercial National Bank Ito9. tional Bank. Ito9. Jack F s i o rs n t - National Bank Ito9. S S t t t . . i o A n P a u e l t g e B u rs s a t b n i u n k e r . g — — S C t. e n A tr u a g l ust N in a e ti o N n a a - l 1 to 9. F C i a r p st i ta N l a N tio at n io al n a B l a B nk ank I It t o o 9 9 . . Sa B B nf a a o n n rd k k — . & S a T n r f u o s rd t C A o t . lantic National 1 It t o o 9 9 . Lau J C r a e o c T l m k - r s u m o s n t e r C S ci o t a a . l t e 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 9 7 . and 9. T S W a a T i r i n m a n r E F s u t W o e p i x s r r t c t a a s i h H n - — t C a t a N e o n v P r g . a e a n t e H l i m — o a N n ^ e u a r 3 e t l n i n N o B e . n l a a l a t n i N l o k B a n t a a io l n n k B a a l n B k a n & k 1 1 I I t t t a t o o o o n 8 9 d 3 9 . . , . 9 5 . to 7 M N M a t c e i t o C c r F C F h n i o i i d e i a r r m t z i l s i s z — a t t b B e n N N n B a C - s n a a r i t t i t k N t i y i r o o . — t a o n n t n a a i F o l l i n r B B a s & a a t l n n N B k k K a a t n o i k o o n n a tz l B N an a k - . 1 I I 1 1 t t , , 2 t o o o 6 , 8 9 , 9 a . . a . n n d d 3 7 . . Vicksburg— GEORGIA First National Bank & Trust Co. Ito9. Albany—City National Bank Ito9. Merchants National Bank & Ito9. Athens—National Bank of Athens. _. 1 to 4. Trust Co. Atlanta- Yazoo City—Delta National Bank... Ito9. First National Bank Ito9. Fulton National Bank 1 to 9. TENNESSEE Augusta—National Exchange Bank.. Ito9. Barnesville—First National Bank 1 to 8. (See also District No. 8) Brunswick—Nationa 1 Bank of Ito9. Brunswick. Bristol—First National Bank Ito9. Carrollton—First National Bank Ito9. Chattanooga- Cartersville— First National Bank... Ito9. First National Bank Ito9. Columbus— Hamilton National Bank Ito9. First National Bank Ito9. Clarksville—First National Bank.... 1. Fourth National Bank Ito9. Copperhill—First National Bank of Dalton—First National Bank Ito5. Polk County. 1 to 3, 5 to 8. Dawson—Dawson National Bank 1 to 3, 5 to 9. Decherd—First National Bank of Elberton—First National Bank. Ito9. Franklin County. 1, 3 to 9. Fitzgerald- Dickson—Citizen National Bank Exchange National Bank Ito4. Fayetteville— Ito8. First National Bank 1 to 4, 6, 7, Elk National Bank 1 to 3 and 5. and 9. First National Bank 1 to 3, 5 to 9. La Grange—L£, Grange National Ito8. Gallatin—First & Peoples National Ito9. Bank. Bank. Louisville—Firsi; National Bank Ito9. Greenville—First National Bank Ito9. Macon- First National Bank & Trust Ito9. Harriman—Harriman National Bank. Ito9. Co. Johnson City- Moultrie— Moultrie National Bank.. Ito9. Tennessee National Bank Ito9. Quitman—First National Bank Ito8. Unaka and City National Bank.. Ito9. Rome- Kingsport—First National Bank 1 to 7 and 9. First National Bank Ito9. Knoxville— National City Bank Ito9. City National Bank 1, 4, and 9. Savannah- East Tennessee National Bank Ito9. Citizens & Southern National Ito9. Lewisbur?— First National Bank.._ Ito8. Bank. McMinnville — Peoples National 1 to 3, 5 to 8. LibertyNational Bank& Trust Co. Ito9. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 327 Powers granted DISTRICT NO. 6—Continued DISTRICT NO. 7—Continued TENNESSEE—continued ILLINOIS—continued Morristown—First National Bank l. Decatur— Nashville- Citizens National Bank 1 to 9. American National Bank Ito9. Milliken National Bank 1 to 9. Broadway National Bank. __ 1 to 7 and 9. National Bank of Decatur Ito9. Fourth & First National Bank__.1 to 9. Des Plaines—First National Bank... 1 to 9. Third National Bank Ito9. Dixon—Dixon National Bank Ito9. Shelbyville—Peoples National Bank. 1 to 3, 5 to 9. Dundee—First National Bank Ito9. South Pittsburg—First National 1 to 9. Elmhurst—First National Bank ltok Bank. El Paso— Springfield—First National Bank 2, 3, 5 to 7, First National Bank 1 to 9. and 9. Woodford County National Ito9. Tullahoma—Traders National Bank. Ito9. Bank. Winchester—Farmers National Bank. 1 to 3, 5 to 9 Evanston—City National Bank & Ito9. Trust Co. DISTRICT NO. 7 Freeport—First National Bank Ito9. ILLINOIS Galesburg—First Galesburg National Ito9. (See also District No. 8) Ha B rv an ey k — & F i T rs r t u s N t a C ti o o . nal Bank Ito9. Amboy—First National Bank Ito9. Havana—Havana National Bank Ito9. Aurora- Henry—First National Bank Ito7. Aurora National Bank.. Ito9. Joliet— First National Bank 1 to 9. First National Bank Ito9. Merchants National Bank Ito9. Joliet National Bank Ito9. Old -Second National Bank I to 9. Will County National Bank Ito9. Batavia— Kankakee—City National Bank Ito4. Batavia National Bank Ito9. Kewanee—First National Bank. Ito9. First National Bank 1 to 8. Knoxville—Farmers National Bank.. Ito9. Belvidere— Lake Forest—First National Bank... Ito9. First National Bank 1 to 8. La Salle—La Salle National Bank Ito9. Second National Bank Ito4. & Trust Co. Berwyn—First American National Ito9. Libertyville— Bank & Trust Co. First National Bank Ito9. Bloomington—First National Bank Ito9. Lake County National Bank Ito9. & Trust Co. Lincoln—Lincoln National Bank Ito9. Blue Island—First National Bank... 1 to 9. Macomb—Union National Bank Ito9. Bushnell—First National Bank Ito9. Marengo—First National Bank Ito9. Cambridge—Farmers National Bank Ito9. Marseilles—First National Bank 1 to 4. Canton- Mattoon—National Bank of Mattoon Ito9. Canton National Bank 1 to 9. Monticello—First National Bank 1 to 9. First National Bank Ito8. Morris— Grundy County National Ito9. Casey—First National Bank Ito4. Bank. Charleston- Naperville—First National Bank Ito9. First National Bank Ito9. Ottawa- National Trust Bank Ito9. First National Bank Ito9. Chicago— National City Bank 1 to 9. Albany Park National Bank & 1 to 9. Paris—First National Bank & Trust Ito9. Trust Co. Co. Austin National Bank 1 to 9. Pekin—American National Bank 1 to 9. Calumet National Bank 1 to 9. Peoria— Continental National Bank & 1 to 9. Central National Bank & Trust 1 to i. Trust Co. Co. First National Bank of Engle- Ito4. Commercial Merchants National Ito9. wood. Bank & Trust Co. Guardian National Bank ... Ito9. First National Bank ltoO. Hyde Park-Kenwood National Ito9. Peru—Peru National Bank__ Ito9. Bank. Pontiac—National Bank of Pontiac Ito9. Irving Park National Bank 1 to 9. Princeton—Citizens National Bank.. 1 to 3, 5 to 8. Jackson Park National Bank 1 to 9. Riverside—First National Bank Ito9. Jefferson Park National Bank... 1 to 9. Rockford— Lawndale National Bank 1 to 9. Commercial National Bank Ito9, Mutual National Bank 1 to 9. Forest City National Bank Ito9. National Bank of the Republic- 1 to 9. Manufacturers National Bank & Ito9. National Builders Bank 1 to 9. Trust Co. Peoples National Bank & Trust Ito9. Rockford National Bank Ito4. Co. Security National Bank Ito9. Portage Park National Bank Ito9. Swedish-American National Bank Ito9. Roseland National Bank 1 to 9. Third National Bank Ito8. Straus National Bank & Trust 1 to 9. St. Charles—St. Charles National Ito9. Co. Bank. Terminal National Bank 1 to 9. Savanna—First National Bank. Ito8. Washington Park National Bank 1 to 9. Springfield—Illinois National Bank.. Ito9. Chicago Heights—First National 1 to 9. Sterling— First Sterling National Ito9. Bank & Trust Co. Bank. Chillicothe—First National Bank.... Ito9. Streator—Union National Bank 1 to 9. Danville- Sycamore—First National Bank 1 to 9. First National Bank Ito9. Waukegan— Palmer National Bank 1 to 9. First National Bank Ito9. Second National Bank Ito8. Waukegan National Bank Ito9. 33454—31 22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

328 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued ILLINOIS- -continued INDIANA—continued Wilmette—First National Bank Ito9. Lebanon-^-First National Bank Ito9. Woodstock—Ainorican National 1 to 9. Liberty—Union County National Ito3. Bank. Bank. Logansport— INDIANA City & State National Bank & 1 to 8. (See also E istrict No. 8) Trust Co. First National Bank Ito8. Attica—Central National Bank & Ito9. Lowell—Lowell National Bank ltoS. Trust Co. Marion- Auburn—City National Bank. 1 to 9. First National Bank Ito9. Aurora- First National Bank 1 to 9. Marion National Bank Ito9. Batesville—First National Bank Ito9. Martinsville—First National Bank__ Ito7. Bloomington—First National Bank.. 1 to 7 and 9. Michigan City- Bluffton— First National Bank Ito9. First National Bank Ito9. Merchants National Bank.. 1 to 9. Old National Bank 1 to 9. Mishawaka—First National Bank__. Ito9. Brazil- Monrovia—First National Bank 1 to 4. Citizens National Bank Ito7. Monterey—First National Bank...». 1 to 3, 5 to 0. First National Bank Ito4. Montezuma—First National Bank... 1 to 8. Hiddell National Bank _ Ito9. Montpelier—First National Bank 1 to 9. Brookville— Mulberry—Citizens National Bank.. Ito9. Franklin County National Bank. 1 to 4. Muncie—Delaware County National Ito9. National Brookville Bank Ito9. Bank. Cambridge City—First National 1 to 8. New Carlisle—First National Bank.. Ito9. Bank & Trust Co. New Castle—Farmers & First Na- Ito9. Clay City—First National Bank 1 to 9. tional Bank. Clinton—First National Bank._ Ito9. Noblesville—American National Ito9. Cloverdale—First National Bank Ito9. Bank. Columbus—First National Bank 1 to 9. Peru—First National Bank Ito9. Craw fords ville— Plainfield—First National Bank & Ito9. Citizens National Bank 1 to 4. Trust Co. First National Bank Ito9. Plymouth—First National Bank of 1 and 4. Dana—First National Bank Ito3. Marshall County. Delphi—Citizens National Bank Ito9. Remington—Farmers National Bank. 1 to 3, 5 to 8. Dublin—First National Bank Ito3. Richmond- Dyer—First National Bank Ito4. First National Bank Ito9. East Chicago- Second National Bank 1 to 9. First National Bank & Trust Co.1 to 9. Rising Sun—National Bank of Rising 1 to 9. Indiana Harbor National Bank.. Ito9. Sun. United States National Bank of ltoQ. Rochester—First National Bank 1 to 5, 7, and Indiana Harbor. 9. Elkhart—First National Bank 1 to 9. Rockville—Rockville National Bank. Ito9. Elwood—First National Bank Ito8. Rushville— Fort Wayne- American National Bank |Ito9. First & Tri-S1;ate National Bank 1 to 9. Rush County National Bank I Ito4. & Trust Co. Rushville National Bank Ito4. Lincoln National Bank & Trust Ito9. Russiaville—First National Bank 1 to 3,5 to 9. Co. Shelbyville— Old National Bank Ito9. Farmers National Bank _ Ito9. Franklin—Citizens National Bank._. Ito8. First National Bank _. Ito9. Gary- Shelby National Bank Ito9. First National Bank Ito9. South Bend- National Bank of America....,—_ Ito9. First National Bank...... — Ito4. Goodland—First National Bank 1 to 3, 5 to 9. Merchants National Bank Ito9. Goshen—City National Bank... Ito9. Swayzee—First National Bank Ito9. Greencastle—First National Bank Ito9. Terre Haute— Greensburg— Citizens National Bank & Trust Ito9. Citizens Thir I National Bank & Ito9. Co Trust Co. First-McKeen National Bank & \Ito9. Greenwood— First National Bank Ito9. Trust Co. Hammond—Hammond National Ito9. Terre Haute National Bank & Ito9. Bank & Trust Co. Trust Co. Hartford City—First National Bank. Ito9. Thorntown—Home National Bank.. Ito8, Huntington—Firiit National Bank... Ito9. Tipton—Citizens National Bank 1 to 9. Indianapolis- Wabash—Farmers & Wabash Na- Ito7. Continental 1 •rational Bank Ito9. tional Bank. Fletcher American National Bank 1 to 7 and 9. Whiteland—Whiteland National Ito4. Indiana National Bank Ito9. Bank. Merchants National Bank 1 to 9. Whiting—First National Bank Ito7. Kendall ville—Citizens National Bank Ito9. Winamac—First National Bank Ito8. Knightstown—Citizens National 1 to 3, 5 to 7, Bank. and 9. IOWA Kokomo—Citizens National Bank... Ito9. La Fayette— Akron—First National Bank 1 to 9. First-Merchaats National Bank.. Ito8. Arlington—American National Bank.| 1 to 3. National Fowler Bank 1 to 8. Aurelia—First National Bank 1 to 9. La Porte—First National Bank & 1 to9. Belle Plaine—Citizens National Bank 1 to 3, 5 to 9 Trust Co. Boone— First National Bank I 1 to 7 and 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIABY POWERS 329 Powers Powers granted granted DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued IOWA—continued IOWA—continued Buffalo Center—First National Bank. Ito9. Rockwell City—Rockwell City Na- 1 to 9. Cedar Falls—Cedar Falls National 1 to 7 and 9. tional Bank. Bank. Sheffield—First National Bank 1 to 9. Cedar Rapids- Sibley—First National Bank 1 to 3. Cedar Rapids National Bank Ito9. Sidney—National Bank of Sidney.... 1 to 9. Merchants National Bank 1 to 4. Sioux City- Charles City- Live Stock National Bank Ito9. Citizens National Bank .._, 1 to 9. Security National Bank 1 to 9. Commercial National Bank. Ito9. Toy National Bank Ito9. Charter Oak—First National Bank.. 1,2,3, and 5. Spencer—Clav County National 1 to 9. Clarence—First National Bank 1 to 4. Bank. Clinton— Stanton—First National Bank Ito8. Citv National Bank „ Ito9. Storm Lake—Citizens First National Ito9. Merchants National Bank Ito5. Bank. Colfax—First National Bank 1 to 3,5 to 9. Story City—First National Bank 1 to 9. Columbus Junction—Louisa County 1,2,3, and 5. Thornton—First National Bank Ito9. National Bank. Tipton—Tipton National Bank Ito9. Coon Rapids—First National Bank.. 1 to 9. Washington—Washington National 1 to 8. Council Bluffs- Bank. City National Bank._ Ito8. Waterloo- First National Bank 1 to 9. Commercial National Bank Ito9. Cresco—First National Bank Ito9. First National Bank.-.__ Ito7. Creston—First National Bank Ito9. Pioneer National Bank Ito9. Davenport—First National Bank 1 to 9. Waverly—First National Bank Ito4. Decorah—National Bank of Decorah.Ito9. Webster City- Des Moines— Farmers National Bank Ito9. Central National Bank & Trust Ito9. First National Bank... Ito9. Co. Iowa-Des Moines National Bank Ito9. MICHIGAN & Trust Co. Dubuque— (See also District No. 9) Consolidated National Bank Ito9. First National Bank 1 to 9. Adrian—National Bank of Com- 2,3,5, and 8. Dysart—Dysart National Bank Ito9. merce. Eldon—First National Bank Ito9. Alpena—Alpena National Bank 2,3,5, and 8. Eldora—First National Bank Ito9. Ann Arbor—First National Bank & Ito9. Elkader—First National Bank Ito9. Trust Co. Everly—First National Bank Ito7. Battle Creek- Fairfield—First National Bank Ito8. Central National Bank 1 to 9. Fonda—First National Bank Ito4. City National Bank & Trust Co. Ito8. Fort Dodge—Fort Dodge National 1 to 8. Old Merchants National Bank Ito9. Gl B ad a b n r k o . ok—First National Bank 1 to 3. Bay C QJ i ttr t y 'J" — LP rrn F iloS i f r l/ s fL t ^ ^/ N O\- ational Bank Ito9. Graettinger—First National Bank 1 to 9. Benton Harbor- Grinnell— P oweshiek County 1 to 9. American National Bank & Trust Ito9. Gr r i v s a w ii o o ld n — ai G JL r > is ai w iiv o . ld National Bank— 1 to 7 and 9. Farmers & Merchants National Ito9. Hampton—Citizens National Bank.. 1 to 9. Bank & Trust Co. Harlan—Harlan National Bank 1 to 8. 1 Birmingham—First National Bank..1 to 5. Hawarden—First National Bank 1,2, 3, 5 to 8.i Boyne City—First National Bank... Ito3. Humboldt—First National Bank Ito4. ! Charlotte—First National Bank 2,3,5, and 8. Indianola—First National Bank 1 to 3. Coldwater— Jewell Junction—First National 1 to 9. Coldwater National Bank 2,3,5, and 8. Bank. Southern Michigan National Ito9. Kanawha—First National Bank Ito3. Bank. Keokuk—Keokuk National Bank 1 to 9. Detroit—National Bank of Com- Ito8. Kingsley—Farmers National Bank._ 1 to 9. merce. Knoxville—Knoxville National Bank 1 to 9. Flint—First National Bank & Trust Ito9. & Trust Co. Co. LeMars—First National Bank 1 to 3, 5 to 9. Grand Rapids- Mason City—First National Bank... Ito9. American National Bank _. Ito9. Muscatine—First National Bank Ito8. Grand Rapids National Bank Ito9. Newell—First National Bank.. Ito9. Hillsdale—First National Bank 1 to 5 and 8. Odebolt—First National Bank Ito4. Ionia—National Bank of Ionia Ito9. Oelwein—First National Bank Ito7. Jackson—Union & Peoples National Ito9. Orange City—Orange City National Ito9. Bank. Bank. Kalamazoo—First National Bank & Ito9. Oskaloosa—Oskaloosa National Ito3. Trust Co. Bank. Lansing— Ottumwa— Capital National Bank. Ito4. First National Bank Ito9. City National Bank Ito9. Iowa National Bank ltoOi Lapeer—First National Bank 2,3,5, and 8. Paullina—First National Bank .,.. 1 to 7 and 9. Ludington—First National Bank & 2,3,5, and 8. Perry—First National Bank Ito9. Trust Co. Peterson—First National Bank Ito4. 1 Monroe—First National Bank Ito9. Primghar—First National Bank Ito9. Muskegon—Hackley Union National Ito9. Red Oak—First National Bank 1 to 9. i Bank. Remsen—First National Bank 1 to 8. ! Niles—City National Bank & Trust Ito9. Rippey—First National Bank 1,2,3, 5 to 8.! Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

330 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD Powers granted DISTRICT NO. 7—Continued DISTRICT NO. 7—Continued MICHIGAN—continued WISCONSIN—continued Petoskey—First National Bank Ito4. Waupun—National Bank of Waupun. 1 to 9. Pontiac—First National Bank & 1 to 9. Wausau— Trust Co. American National Bank 1 to 9. Port Huron—First National Trust & Ito9. First National Bank... 1 to 9. Savings Bank. West Bend—First National Bank 1 to 9. Quincy—First National Bank 2,3,5, and 8. Wisconsin Rapids—First National 1 to 9. Rochester—First National Bank 1 to 4. Bank. St. Johns—St. Johns National Bank.. 2,3,5, and 8. St. Joseph—Commercial National Ito9. | DISTRICT NO. 8 Bank & Trust Co. Saginaw—Second National Bank & Ito8. I Trust Co. | ARKANSAS T U r n a i v o e n r se C i C ty it — y— U F ri i o rs n t N C a it t y io n N al a t B io a n n a k l - I 2 t ,3 o , 3 5 , , a a n n d d 5 8 . . B El e n D to o n ra v d il o le — — F F ir i s r t s t N N a a ti t o io n n a a l l B B an a k nk__. 1 It o to 9 . 9. W B ya a n n d k o . tte—First National Bank Ito9. F F a o y rd e y tt c e e v — ill F e— irs F t i N rs a t ti N on at a i l o n B a a l n B k ank... 1 1 t t o o 9 9 . . Fort Smith- WISCONSIN City National Bank 1 to 9. First National Bank... 1 to 9. (See also District No. 9) Merchants National Bank 1 to 9. Hot Springs—Arkansas National Ito9. Antig F L o i a r — n s g t l N ad a e ti o N n a a ti l o B na an l k Bank 1 lt o to S . 3,5 to 8. La B k a e n V k. illage—First National Bank... 1 to 9. Appleton—Citizens National Bank... Ito9. Marianna—Lee County National Ito9, Baraboo—First National Bank & Ito9. Bank. Trust Co. Newport—First National Bank to 8. Beaver Dam- Paris—First National Bank to 9. American Netional Bank Ito9. Pine Bluff—Simmons National Bank to 9. Belo O jt— ld S N ec a o ti n o d n a N l a B ti a o n n k al . . Bank.. 1 1 t t o o 9 9 . . V Te a x n a r B k u a r n e a n — — S F ta ir t s e t N N a a t t i i o o n n a a l l B B a a n n k k t t o o 9 9 . . Berlin—First National Bank Ito9. Brillion—First National Bank Ito8. ILLINOIS Chilton—Chiltor: National Bank Ito9. Clintonville—First National Bank... 1 to 4. (See also District No. 7) Darlington—First National Bank Ito8. Edgerton—First National Bank 1 to 8. Alton—First National Bank& Trust ltoQ. Fond du Lac— Co. in Alton. Commercial National Bank 1 to 8. Anna—First National Bank Ito9. First Fond d a Lac National Bank Ito8. Belleville- Green Bay—Kellogg Citizens Na- Ito9. Belleville National Bank Ito9. tional Bank. First National Bank.._ 1 to 9. Hartford—First National Bank 1 to 7 and 9. St. Clair National Bank 1 to 9. Janesville—First National Bank Ito9. Benld—First National Bank of Benld.1 to 3,5 to 8. Kenosha—United States National Ito9. Breese—First National Bank 1 to 9. Bank & Trust Co. Bridgeport—First National Bank 1 to 9. Lake Geneva—First National Bank.. Ito9. Bunker Hill—First National Bank... 1 to 9. Madison—Commercial National 1 to 9. Carlinville—Carlinville National Ito9. Bank. Bank. Manitowoc— First National Bank in Ito9. Carlyle—First National Bank _„_ Ito9. Manitowoc. Carmi—National Bank of Carmi Ito9. Marinette—First National Bank Ito9. Centralia—Old National Bank 1 to 9. Marshfield—American National Ito9. E d wards ville—E dw ardsville Nation- 1 to 3, 5 to 7, Bank. al Bank & Trust Co. and 9. Menasha—First National Bank 1 and 4. Effingham—First National Bank Ito9. Milwaukee- Highland—First National Bank 1 to 9. Marine National Exchange Bank. 1 to 9. Jacksonville—Ayers National Bank.. 1 to 4. National Bank of Commerce Ito9. Jonesboro—First National Bank Ito9. Monroe—First National Bank Ito9. Lawrenceville—First National Bank- Ito9. Neenah—National Manufacturers Ito3. Lebanon—First National Bank Ito9. Bank. Mascoutah—First National Bank 1 to 9. Neillsville—Firsi; National Bank 1 to 9. Metropolis—City National Bank 1 to 4. Oconomowoc—First National Bank.. Ito9. Millstadt—First National Bank 1 to 9. Oshkosh—City National Bank Ito9. Mount Carmel—American National 1 to 9. Platteville—First National Bank 1 to 9. Bank. Racine—First National Bank & Ito9. Murphysboro—First National Bank- Ito8. Trust Co. Nashville— Ripon—First National Bank Ito9. Farmers & Merchants National 1 to 9. Shawano—Wisconsin National Bank. Ito8. Bank. Sheboygan—Security National Bank- Ito9. First National Bank Ito9. Sparta— Farmers National Bank Ito9. National Stock Yards—National Stevens Point- Stock Yards National Bank of Na- Citizens National Bank 1 to 9. tional City. First National Bank 1 to 8. Nokomis—Nokomis National Bank.. 1 to 3. Viroqua—First National Bank Ito9. O'Fallon—First National Bank Ito9. Waukesha— Pittsfield—First National Bank 1 to 9. National Exchange Bank Ito4. Sparta—First National Bank 1 to 3, 5 to 7. Waukesha National Bank Ito8. Vandalia—First National Bank Ito8. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY PRESS 331 Powers Powers granted granted DISTRICT NO. 8—Continued DISTRICT NO. 8—Continued INDIANA KENTUCKY—continued (See also District No. 7) Louisville- B B B B i e o r c o d o k w f n o n v n r e d i s l l l — t l — o e— w B F n e F i d — r i s f r o t s F r t N i d r N s a t N t a i t o N a io n t a i n a o t l i a n o l B a n l B a a n l a B k n B a k n a k n . k .. .. 1 1 I I t t a o o t t o o n 9 9 d 3 . . 3 , , 9 5 5 . t o to 9 7 . , M M B a a y d a F C n i n s i i e r k o t l i s . n d z t e — v N n il s F l a e t i U — i r o s n n t F i a o N a l n r a B m t N i a e o a n r n t s k i a o l n N B al a a n t B k i a o n n k a . l .. 1 1 1 It o t t t o o o 9 . 9 9 9 . . . Cannelton—Cannelton National 1 to 3,5 to 8. M B or a g n a k n . field—Morganfield National 1 to 4. Bank. Murray—First National Bank Ito9. E Fo v r a t N O n B s l a v d r t a i i o N n l n i c a e a h t - l i — o C n F i a t a l y r B m B a e a n r n s k k & Merchants 1 1 1 t t t o o o 9 9 9 . . . P O a o w d f e u C n O e i s a w t b h y o e — r N n o s a — b t o i N o ro n a . a ti l o n B a a l n k Deposit Bank 1 1 t t o o 9 9 . . J M L M M e i f N i a n o f t e d t c u a o r i h n t s s n i e o t o o — l n n n V l— — v a F e l i r i l F F n r l B e s i o i r t — r a n s s n — N t t F k N a N i . O r t a s i a l o t t d t i i n o N o a n F n l a a i a t r B l i l s o a B t B n n a a a k N n n l k a k B ti a o n n k a _ . l _ . 1 1 1 1 1 t t t t t o o o o o 9 8 9 7 5 . . . . . Prin F P F F ce e a i i t r r o r o s s m p t n t l — e e N N r s s a a N t t N i io o a a n n t t i a a i o o l l n n B B a a l a a l B n n B k a k a n . n k . k . I I 1 1 t t o o t to o 9 9 . . 3 9 , . 5 to9 Bank. New Albany—New Albany National Ito9. MISSISSIPPI Or B le a a n n k s . —National Bank of Orleans. _ 1. (See also District No. 6) P Pe ri te n P F r c s e a e b o r t u m p o r l e e n g r s - — s A N F m i a r e t s i r t o i c N n a a n a l t N i B o a n a t a n io l k n . B a a l n B k ank. 2 1 It , o t a 3 o n 8 , d 3 . a , n 9 5 d t 5 o . 7, W C G o r B e e l s u a e t n n m P v k b i o . l u i l s e n — — t— F F F i i r r i s s r t t s t C N N o a l a t u i t o m io n b n a u l a s l B N B a a n a t k n io k n . a .. l . I 1 1 t o t t o o 9 . 9 4 . . Rockport—First National Bank 1 to 9. Seymour- MISSOURI First National Bank Ito9. Seymour National Bank.- Ito9. (See also District No. 10) T Su e T l ll l r i C u v C i a s t t n i i z t — C e y n o - P s . e N op a l t e i s o n N a a l t B io a n n a k l Bank & 1 It t o o 9 . 7 and 9. B C C o h ar o il r n l q i v c ll i o t ll o t e h n — e — — B F F o i o r ir s n s t v t N i N ll a e a t t i N i o o n a n t a a i l o l n B B a a l a n n B k k ank. 1 1 lt o t t o o .9 8 9 . . . V Vi e n v c A T a e y n e m — l n l e e r F C s i — i c i r t a s y n t N N N a a a t t t i i i o o o n n n a a a l l l B B B a a a n n n k k k.. I I 1 t t o o to 9 9 . . 9. C H o a l n u B E n m i x o b b c o a i h n a l a e — — n C g H e o a u N n n n a t i y t b i o a N n l a a N t l i a o B t n i a o a n l n k a B l a B nk ank _ . . I 1 1 t o t t o o 9 . 4 9 . . Wad F e i s r v s i t l l N e— ati F o a n r a m l e B rs a N nk at . i . o . nal Bank. I 1 t o to 9 . 9. Jeffe E F rs i x o r c s n h t a N C ng a i t e t i y o N - n a a t l i o B n a a n l k Bank I 1 t o to 9 . 9. Was P h e C i o n o p g . le to s n N - ational Bank & Trust Ito9. L K u ir x k e s m vi b ll u e r — g— C L iti a z f e a n y s e t N te a t N ion a a t l i o B n an al k.. I 1 t o to 8 . 9 Washington National Bank Ito9. M B on a e n t k t— & F T ir r s u t s N t a C t o io . nal Bank ._ 1 to 9. KENTUCKY Pierce City—First National Bank 1 to 9. (See also District No. 4) St. Charles—First National Bank 1 to 9. St. Louis- Bowling Green—American National 1 and 4. Boatmen's National Bank Ito9. Bank. First National Bank 1 to 4. Carrollton— Mercantile Commerce National 1 to 9. Carrollton National Bank Ito9. Bank in St. Louis. First National Bank Ito9. Plaza National Bank... Ito9. Clay—Farmers National Bank 1 to 9. St. Louis National Bank. _ Ito9. Clinton—First National Bank Ito9. Security National Bank, Savings 1 to 9. Columbia—First National Bank & 1 to 3, 5 to 8. & Trust Co. Trust Co. South Side National Bank Ito9. Danville- Vandeventer National Bank 1. Citizens National Bank 1 to 9. Sedalia— Farmers National Bank _ Ito8. Citizens National Bank 1 to 4. Elizabethtown— Third National Bank... 1 to 3, 5 to 7« First-Hardin National Bank Ito9. Sedalia National Bank 1 to 9. Union National Bank.. 1 to 3,5,6,8, Springfield— and 9. McDaniel National Bank Ito9. Frankfort—State National Bank 1 to 9. Union National Bank 1 to 4. Glasgow—Farmers National Bank... Ito5. Trenton—Trenton National Bank 1 to 9. Harrodsburg—First-Mercer National Ito9. Unionville—Marshall National Bank. 1 to 3, 5 to 7. Bank. Henderson—Henderson National Ito9. TENNESSEE Bank. Lawrenceburg— (See also District No. 6) Anderson National Bank 1 to 3, 5 to 9 Lawrenceburg National Bank Ito8. Dyersburg—First-Citizens National 1 to 9. Lebanon- Bank. Citizens National Bank 1 to 9. Jackson— J Farmers National Bank Ito9. National Bank of Commerce I 1 to 9. Marion National Bank Ito6. Security National Bank ...I 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

332 ANNUAL REPOBT OF THE FEDEKAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 8-Continued DISTRICT NO. 9— Continued TENNESSEE—continued MINNESOTA—continued Memphis- Proctor—First National Bank Ito9. First National Bank Ito9. Red Wing- Union-Plani ers National Bank & Ito9. First National Bank Ito9. Trust Co. Goodhue County National Bank- 1 to 9. Union City—OH National Bank Ito9. Red Wing National Bank & Ito9. l rust uo, DISTRICT NO. 9 Rochester—First National Bank Ito9. St. Paul- MICHIGAN American National Bank._ Ito9. (See also District No. 7) F E i m rs p t i N re a N tio a n ti a o l n B al a n B k ank I I t t o o9 9 . . Calumet—First National Bank Ito9. Midway National Bank Ito9. Hancock—First National Bank 2,3,5, and 8. Twin Cities National Bank 1 to 9. Houghton— St. Peter—First National Bank Ito8. Citizens National Bank 2,3,5, and 8. Spring Valley—First National Bank. 1 to 9. Houghton National Bank Ito9. Stewartsville—First National Bank__ 1. Iron Mountain—United States Na- 2,3,5, and 8. Still water—First National Bank Ito9. tional Bank. Truman—Truman National Bank... Ito9. Ironwood— Virginia—American Exchange Na- Ito3, 5toS Gogebic National Bank 2,3,5, and 8. tional Bank. Iron National Bank 2,3,5, and 8. Waseca—Farmers National Bank Ito9. Ishpeming—Miners National Bank_. 2, 3,5, and 8. Welcome—Welcome National Bank.. Ito8. Lake Linden—First National Bank.. 2,3, 5, and 8. West Concord—First National Bank. 1 to 9. Laurium—First National Bank 2,3,5, and 8. Windom—First National Bank Ito9. Marquette— Winona— First National Bank & Trust Co. Ito9. First National Bank Ito9. Union National Bank Ito9. Winona National & Savings Ito9. Menominee— Bank. First National Bank 1 to 9. Lumbermen's National Bank 2,3,5, and 8. MONTANA Munising—Firs; National Bank of 2,3,5, and 8. Billings- Alger County, Midland National Bank Ito9. Negaunee— Montana National Bank Ito9. First National Bank 2,3,5, and 8. Bozeman—Commercial National Ito4. Negaunee National Bank 1 to 3. Bank. Deer Lodge—United States National 1 to 5, 7, MINNESOTA Bank. and 8. Dillon—First National Bank. 1 to 7 and 9; Albert Lea- Great Falls- First National Bank Ito8. First National Bank... Ito9. Freeborn County National Bank Ito9. Great Falls National Bank 1 to 4. & Trust Co. Helena—National bank of Montana. _Ito9. Austin— Kalispell—First National Bank Ito4. Austin National Bank 1 to 9. Lewistown—National Bank of Ito9. First National Bank Ito8. Livingston—National Park Bank in Ito9. Bemidji—First National Bank Ito9. Livingston. Blooming Prairie—First National 1,2,3, and 5. Miles City—First National Bank Ito9. Bank. Missoula— Chatfield—First National Bank Ito5. First National Bank 1 to 7 and 9» Dulutb— Western Montana National Ito8. City National Bank Ito9 Bank. First & American National Bank. Ito9. Minnesota National Bank Ito9. NORTH DAKOTA Northern National Bank Ito9. Eveleth—First National Bank 1 to 3,5 to 9. Bismarck- Fairmont- Dakota National Bank & Trust Ito9. First National Bank _ Ito9. Co. Martin County National Bank__ Ito9. First National Bank 1 and 9; Faribault—Security National Bank Ito9. Ellendale—First National Bank Ito4. & Trust Co. Fargo— Fergus Falls— First National Bank & Trust Co. Ito9. Fergus Falls National Bank Ito8. Merchants National Bank & Ito9. First National Bank_ Ito9. Trust Co. Hastings—First National Bank Ito9. Grafton—Grafton National Bank Ito9. Hutchinson—Farmers National Ito9. Grand Forks- Bank. First National Bank _ Ito9. Little Falls— Fiist National Bank.... 1, 2, 3, 5, 6, Red River National Bank & Ito9. 8, and 9. Trust Co. Mankato—First National Bank Ito9. Jamestown- Minneapolis- James River National Bank & 1 to 0;. First National Bank Ito9. Trust Co. Metropolitan National Bank Ito9. National Bank & Trust Co Ito9. Midland National Bank & Trust 1 to 8. Minot— Co. First National Bank 1 to 9. Northwestern National Bank... 4. Union National Bank & Trust Co Ito9i Northfield—Northfield National 1 to 9 Valley City- Bank & Trust Co. American National Bank & Trust 1 to 9. Owatonna— First National Bank- 1 to 9. Co. Park Rapids—First National Ban' ltOO. National Bank of Valley City.— ltoft. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 333 SOUTH DAKOTA COLOEADO—continued Aberdeen- Glenwood Springs—First National 1 to 3, 5 to 7. Ab C e o rd . een National Bank & Trust Ito9. Go B ld a e n n k — . Rubey National Bank 1 to 9. First National Bank & Trust Co_1 to 9. Grand Junction—Grand Valley Na- 1 to 9. Arlington—First National Bank 1 to 4. tional Bank. Canton—First National Bank 1 to 9. Greeley— Chamberlain—First National Bank Ito9. First National Bank 1 to 9. & Trust Co. Greeley Union National Bank 1 to 9. Clear Lake—Deuel County National Ito9. Gunnison—First National Bank 1 to 9. Bank. Hugo—First National Bank.... Ito3. Deadwood—First National Bank Ito9. Idaho Springs—First National Bank. 1 to 4. Flandreau—First National Bank 1 to 3. Lamar—Lamar National Bank Ito9. Huron—National Bank of Huron 1 to 9. Las Animas—First National Bank... Ito9. Lake Norden—First National Bank 1 to 3, 5 to 8 Longmont— ! & Trust Co. First National Bank !1 to 9. Lead—First National Bank 1 to 9. Longmont National Bank ....!Ito9. Miller—First National Bank Ito9. I Loveland—First National Bank 1 to 4, Rapid City—First National Bank. 1 to 7 and 9. and 7. Sioux Falls- Mancos—First National Bank Ito9. Citizens National Bank & Trust Ito9. Montrose—Montrose National Bank. Ito9. Co. Ordway—First National Bank 1. First National Bank & Trust Co. Ito8. Trinidad- Security National Bank & Trust Ito9. First National Bank 1 to 3. Co. Trinidad National Bank...- Ito9. Vennilion—First National Bank & Ito9. Walsenburg—First National Bank... Ito9. W T at r e u r s to t w C n o — . Anthony- KANSAS Ci C tiz o e . ns National Bank & Trust Ito9. F C i i r t s iz t e N ns a t N io a n t a io l n B a a l n B k a nk 1 1 t t o o 8 4 . . First National Bank & Trust Co.Ito9. Arkansas City—Home National 1 to 9. Yankton—First National Bank & Ito9. Bank. Trust Co. Atchison—City National Bank 1 to 9. Chanute— First National Bank Ito9. "WISCONSIN Coffeyville— (See also District No. 7) Condon National Bank 1 to 3,5 to 9. Ashland— First National Bank 1 to 3 and 5. Ashland National Bank Ito9. Dodge City—First National Bank... 1 to 9. Northern National Bank 1 to 7 and 9. Emporia— Barron—First National Bank Ito3. Ci tizens National Bank Ito9. Chippewa Falls- Commercial National Bank & 1 to 9. First National Bank 1 to 9. Trust Co. Lumbermens National Bank 1 to 9. Fort Scott—Citizens National Bank.. 1 to 7 and 9.. M Ea e u n o C m la o ir n e i — e— U F n i i r o s n t N N a a t t i i o o n n a a l l B B a a n n k k . . . . t t o o 9 9 . . H G o re r a to t n B — en F d ir — st F N ir a s t t i o N n a a t l i o B n a a n l k B ank... ! 1 1 t t o o 4 9 . . Superior- Hutchinson— First National Bank to 7. American National Bank _. 1 to 9. National Bank of Commerce to 9. Exchange National Bank 1 to 8. United States National Bank to 9. First National Bank lto4. Independence- DISTRICT NO. 10 Citizens First National _ 1 to 9. Security National Bank 1 to 9. Boulder- COLORADO Jewel City—First National Bank I 1 to 3. Boulder National Bank 1 to 4. Kansas City—Peoples National I 1 to 9. Citizens National Bank 1 to 7. Bank. National State Bank. I Ito9. Lawrence— Brighton—First National Bank |1 to 4. First National Bank _. 1 to 8. Brush—First National Bank j1 to 3, 5 to 8. Lawrence National Bank 1 to 8. Canon City— ! Leavenworth—First National Bank.. 1. First National Bank _ |Ito9. Luray—First National Bank 1 to 3. Fremont County National Bank.!Ito4. Manhattan- Center—First National Bank _|1 to 4. First National Bank 1 to 9. Colorado Springs- Union National Bank I 1 to 9. Colorado Springs National Bank 1 to 9. Ottawa—Peoples National Bank I 1 to 4. Exchange National Bank Ito9. Paola—Miami County National I 1 to 9. First National Bank... 1 to 9. Bank. Craig—Craig National Bank Ito9. Pratt—First National Bank 1 to 9. Denver— Sabetha—National Bank of Sabetha.. 1 to 4. American National Bank Ito7. Salina— Colorado National Bank 1 to 9. Farmers National Bank 1 to 5 and 8^ Denver National Bank Ito9. National Bank of America Ito9. First National Bank Ito9. Topeka— Stock Yards National Bank Ito9. Farmers National Bank 1 to 4. United States National Bank Ito9. National Bank of Topeka 1 to 9. Durango—Burns National Bank Ito7. Troy—First National Bank 1 to 3. Eagle—First National Bank of Eagle Ito4. Wellington—First National Bank 1 to 9. County. Wichita- Englewood—First National Bank 1 to 4. First National Bank 1 to 9. Florence—First National Bank Ito9. Fourth National Bank. 1 to 9. Fort Collins- Southwest National Bank 1 to 9. First National Bank... Ito4. Union National Bank 1 to 9. Fort Collins National Bank Ito9. Winfield— Poudre Valley National Bank.... 1 to 7 and 9. First National Bank 1 to 9. Digitized forF ForRt AMSoErgRan —First National Bank. J Ito4. Winfield National Bank 1 to 9.. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

334 ANNUAL REPORT OP THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 10—Continued DISTRICT NO. 10—Continued MI3SOURI OKLAHOMA—continued (See also District No. 8) Bristow—American National Bank.. Ito9. Broken Arrow—First National Bank- 1 to 4. 6 to 9. Cameron—First National Bank Ito3. Cleveland—First National Bank 1 to 9. Carthage—Central National Bank.__ Ito3. Dewey—First National Bank 1 to 9. Independence—First National Bank. 1 to 9 Enid- Joplin—Joplin National Bank & Ito9. Central National Bank Ito9. Trust Co. 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- — Ito9. & Drovers Natonal Bank Ito9. Hominv— Fidelity Nat ional Bank & Trust Ito9. First National Bank 1 to 3, 5 to 9. Co. National Bank of Commerce 1 to 9. First National Bank Ito9. Hooker—First National Bank 1 to 3 and 5. Interstate National Bank Ito9. Lawton—City National Bank 1 to 3, 5 to 7 Stockyards National Bank. Ito9. and 9. Traders Gate City National 1 to 9. MeAlester—First National Bank 1 to 3, 5 to 7. Bank. Miami—First National Bank 1 to 9. Maryville—First National Bank 1 to 5. Muskogee— Neosho—First National Bank Ito9. Commercial National Bank Ito8. Plattsburg—Firsi; National Bank Ito9. First National Bank & Trust Co. Ito9. American National Bank Ito4. First National Bank..- Ito9. Burns National Bank Ito4. Security National Bank Ito9. Tootle-Lacey National Bank 1 to 8. Okemah— First National Bank 1 to 8. NEBRASKA Okemah National Bank Ito9. Oklahoma City- Alliance—First National Bank Ito9. City National Bank & Trust Co_ Ito4. Belden—First National Bank 1 to 3, 5 to 9. Fidelity National Bank 1 to 9. Butte—First National Bank 1 to 3. First National Bank & Trust Co.. 1 to 9. David City—First National Bank... Ito9. Libertv National Bank Ito9. Decatur—First National Bank Ito3. Tradesmens National Bank 1 to 7 and 9. Emerson—First National Bank 1 to 8. Okmulgee— Genoa—Genoa National Bank Ito9. Central National Bank Ito9. Grand Island—First National Bank.. 1 to 9. Citizens National Bank Ito9. Lincoln- Pond Creek—First National Bank... Ito4. Continental National Bank Ito9. Shawnee— First National Bank _ I to 9. Federal National Bank Ito9. 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- Ito9. Stillwater— tional Bank. First National Bank Ito9. Norfolk—Norfolk National Bank 1 to 3. Stillwater National Bank Ito9. First National Bank Ito9. Exchange National Bank. 1 and 4. Omaha National Bank.. 1 to 9. First National Bank & Trust Co. 1 to 9. United State;} National Bank Ito9. National Bank of Commerce 1 to 3, 5 to 9. Ord—First National Bank Ito4. Woodward—First National Bank 2 and 3. Osmond—First National Bank Ito9. Pender—First National Bank 1, and 3 to 7. WYOMING Randolph—First National Bank Ito9. fSouth Omaha— Buffalo—First National Bank Ito4. Packers National Bank 1 to 9. Casper- Stock Yards National Bank 4. Casper National Bank Ito5. Utica—First National Bank 2 and 3. Wyoming National Bank Ito9. Wahoo—First National Bank 1 to 3, 5 to 9. Cheyenne— Wayne—First National Bank Ito9. American National Bank 1 to 9. Stock Growers National Bank... 1 to 9. NEW MEXICO Cody- First National Bank 1 to 9. r(See also District No. 11) Shoshone National Bank 1 and 4. Evanston—First National Bank.-... Ito3. Albuquerque- Kemmerer—First National Bank.—. 1 to 4. Albuquerque National^Trust & 1 to 9. Laramie—First National Bank_ Ito3. Savings Bank. Powell—First National Bank Ito8. First National Bank 1 to 7 and 9.1 Rawlins— Farmington—First National Bank... 2 and 3. First National Bank 1 to 9. Gallup—First National Bank in Gal- 2 and 3. Rawlins National Bank 1 to 3. lup. Rock Springs—Rock Springs Na- 1 to 9. Raton—First Nat ional Bank in Raton- 1 to 7. tional Bank. Santa Fe—First National Bank 1 to 9. Sheridan—First National Bank 1 to 9. Thermopolis—First National Bank.. 1 to 9. OKLAHOMA DISTRICT NO. 11 Ada—First National Bank 1 to 9. Anadarko—First National Bank Ito9. ARIZONA Ardmore—First National Bank 1 to 8. Bartlesville— (See also District No. 12) First National Bank Ito8. Union National Bank 4. Nogales—First National Bank 1 to 8. Black well—First National Bank Ito9. Tucson—Consolidated National Bank Ito4. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FIDUCIARY POWERS 335 Powers 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. Homer—Homer National Bank Ito8. South Texas Commercial Na- 1 to 9. Shreveport— tional Bank. Commercial National Bank Ito9. State National Bank 1 to 9. First National Bank Ito4. Union National Bank 1 to 9. Italy—First National Bank Ito9. NEW MEXICO Kingsville—First National Bank Ito9. (See also District No. 10) L Lo a n G gv ra ie n w ge — — 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 1 1 . to 3, 5, Roswell—First National Bank Ito3. and 8. Silver City—American National Bank 2 and 3. Lubbock—First National Bank Ito9. McKinney—Collin County National 1 to 9. TEXAS Bank. Abilene— Marfa—Mar fa National Bank 1 to 9. Citizens National Bank Ito9. Marshall- Farmers & Merchants National Ito9. First National Bank 1 to 3 and 5. Bank. Marshall National Bank 1 to 5. Albany—Albany National Bank 4. Midland—Midland National Bank__ Ito9. Amarillo—First National Bank 1 to 9. Orange— Austin- First National Bank 1 to 9, American National Bank 1 to 0. Orange National Bank 1 to 9. Austin National Bank 1 to 9. Palestine^-Royall National Bank Ito4. Beaumont— Paris—First National Bank Ito9. American National Bank 1 to 9. Plainview—Plainview National Bank- Ito9. City National Bank, 1 to 9. Port Arthur- First National Bank , Ito9. First National Bank 1 to 4. Texas National Bank 1 to 9. Merchants National Bank 1 to 9. Bonham— First National Bank 1 to 3, 5 to 7. San Angelo— Brady—Brady National Bank 1 to 3 and 5. Central National Bank Ito4. Brenham—First National Bank 1 to 7 and 9. First National Bank Ito9. Brownsville- San Angelo National Bank Ito3. First National Bank 1. San Antonio- Merchants National Bank Ito9. Alamo National Bank Ito9. State National Bank Ito9. Frost National Bank. 1 to 9. Brownwood—Citizens National Bank 1 to 9. Groos National Bank 1 to 9. Cameron—Citizens National Bank 1 to 9. National Bank of Commerce 1 to 9. Childress—First National Bank Ito9. Sherman—Merchants & Planters Na- 1 to 9. Clartsville—First National Bank Ito3,5to8. tional Bank. Colorado- Smith ville—First National Bank 1 to 9. City National Bank. Ito4. Stanton—First National Bank 1 to 3. Colorado National Bank 1 to 3, 5 to 7. Stephenville—Farmers-First National Ito9. Corpus Christi— Bank. City National Bank & Trust Co. 1 to 9. Terrell—American National Bank 1 to 8. Corpus Christi National Bank 1 to 7. Texarkana — Texarkana National 1 to 9. Corsicana— Bank. Corsicana National Bank Ito4. Troup—First National Bank First National Bank Ito9. Tyler- Dallas- Citizens National Bank First National Bank _ Ito9. Peoples National Bank 1 to 9. National Bank of Commerce Ito4. Victoria—Victoria National Bank 1 to 4. Eepublic National Bank & Trust 1 to 9. Waco- Co. Citizens National Bank 1 to 9. Del Rio—Del Rio National Bank Ito9. First National Bank 1 to 8. Denison— Waxahachie—Citizens National Bank Ito9. Citizens National Bank... 1 to 9. Wichita Falls- State National Bank Ito9. City National Bank.. 1 to 9. El Paso— First National Bank 1 to 9. El Paso National Bank Ito9. First National Bank 1 to 7 and 9. DISTRICT NO. 12 State National Bank Ito9. Floresville—City National Bank 1 to 9. ALASKA Fort Worth- Continental National Bank jltoQ. Fairbanks—First National Bank 1 to 9. First National Bank I 1, 2, and 4. Fort Worth National Bank I1 to 9. Stockyards National Bank.. I 1 to 4. Gainesville—Lindsay National Bank.!1 to 9. Phoenix—First National Bank.. 1 to 9. Galveston— j Winslow—First National Bank. 1. City National Bank i Ito9. First National Bank Ito9. Hutchings-Sealy National Bank.J 1 to 9. United States National Bank !1 to 9. Alhambra—First National Bank 1 to 9. G Gr r e a e n n g v e i r l — le— Fi G rs r t e N en a v ti il o l n e a N l B at a io n n k a l Ex- j | I 1 t a o n 4 d . 2. Berkeley—First National Bank 1 a to n d 3 r 9 5 . to 7,. change Bank. I Beverly Hills- Haskell—Haskell National Bank \1 to 3, 5 to 8. Beverly Hills National Bank & Ito9. Houston— | Trust Co. First National Bank _ Ito9. First National Bank 1 to 9. National Bank of Commerce 1 to 7 and 9. Chico—First National Trust .& Sav- 1 to 8. Public National Bank & Trust Co.1 to 9. ings Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

336 ANNUAL KEPORT OP THE FEDERAL RESERVE BOARD Powers Powers granted granted DISTRICT NO. 12—Continued DISTRICT NO. 12—Continued CALIFORNIA—continued OREGON Fullerton—First National Trust & Ito9. Ashland—First National Bank Ito9. Savings Bank. Athena—First National Bank Ito9. Long Beach—California First Na- Ito9. Cor vail is—First National Bank Ito9. tional Bank. Eugene—First National Bank 1 to 5. Los Angeles- Grants Pass—First National Bank of 1 to 3, 5 to 7, Citizens National Trust & Sav- 1 to 9. Southern Oregon. and 9. ings Bank. Harrisburg—First National Bank Ito3. Farmers & Merchants National Ito9. Hood River—First National Bank 1 to 9. Bank. Junction City—First National Bank. 1 to 3, 5 to 7, Seaboard National Bank 1 to 9. and 9. Security-First National Bank Ito9. Klamath Falls- The United states National Bank 1 to 7 and 9. American National Bank.. Ito8. of Los Angeles. First National Bank Ito9. Mountain View—First National 4. McMinnville—United States Na- 1 to 9. Bank. tional Bank. Oakland- Marshfield— Central National Bank__ 1 to 9. Coos Bay National Bank. 1 to 9. First National Bank . 1 to 9. First National Bank of Coos Bay.1 to 9. Orange—First National Bank 1 to 9. Medford— Orland—First National Bank 4. First National Bank Ito9. Pasadena—Security National Bank_. Ito9. Medford National Bank. Ito9. Pleasanton—First National Bank 4. Milton—First National Bank., 1 to 4. Pomona—First National Bank__ 1 to 3, 5 to 7. Newberg—United States National 1 to 9. Redwood City—First National Bank 1 to 3, 5, 7. Bank of Newburg. of Mateo County. to 9. Ontario—First National Bank 2 and 3. Riverside—Citizens National Trust Ito9. Pendleton—First National Bank 1 to 9. & Savings Bark. Portland- Sacramento—Capital National Bank. 1 to 9. First National Bank Ito9. Salinas—Salinas National Bank 4. Peninsula National Bank 1 to 9. San Bernardino—American National 1 to 9. United States National Bank 1 to 9. Bank. West Coast National Bank. 1 to 9. San F L D i a B r i e s J a g t o n o l N k l — a . a t N io a n ti a o l n a T l r u B s a t n & k Savings I I t t o o 9 9 . . T Sa h le e m U F D i — n r a s i l t t l e e N d s — a S ti t F o a i t n r e s a s t l N B N a a a t n t i i o k o n n i a n a l l S B a B l a e a n m n k k.... I 1 I t t o o to 9 9 . . 9. San Francisco- UTAH Anglo & Loadon Paris National 1 to 9. Bank. Logan—First National Bank 1 to 9. Bank of America National Trust 1 to 9. Ogden—First National Bank 1. & Savings Association. Salt Lake City- Bank of California, N. A 1 to 9. Continental National Bank 1 to 7 and 0 Crocker First National Bank 1 to 9. Deseret National Bank 1 to 4. Pacific National Bank.. Ito8. WASHINGTON Santa Ana—First National Bank Ito9. Santa Barbara- Aberdeen—Grays Harbor National 1 to 9. County National Bank & Trust Ito9. Bank. Co. Bellingham— Ito9. American National Bank 1 to 3 and 9. FiBrsat nNk.ational Trust & Savings Bellingham National Bank 1 to 9. Stockton—First National Bank 1 to 9. First National Bank 1 to 5 and 9. Ventura—Union National Bank Ito5. Northwestern National Bank Ito9. Whittier—Whittier National Bank Ito9. Burlington—First National Bank 1 to 7 and 9 & Trust Co. Chechalis—First National Bank ... Ito9. Woodland—Bank of Woodland, N. A.Ito3,5to7. Colfax—Farmers National Bank 1 to 5. Dayton—Columbia National Bank... Ito3. IDAHO Ellensburg—Washington National 1 to 9. rJoise— ; Bank. Boise City National Bank 1 to 3, 5 to 9. Everett- First National Bank of Idaho Ito5. Citizens Security National Bank. Ito9. Hagerman—First National Bank 1. First National Bank 1 to 9. Hailoy—Hailey National Bank 1 to 3. Hoquiam—First National Bank 1 to 9. Lewiston—Lewiston National Bank.. 1 to 9. Longview—First National Bank 1 to 9. Moscow—First National Bank 1 to 4. Mount Vernon— First National Bank 1 to 9. NEVADA Skagit National Bank 1 to 4. Okanogan—First National Bank 1 to 9. Reno—First National Bank in Reno. 1 to 7 and 9. Olympia— Tonopah—Nevada First National 4 and 9. 1 Capital National Bank 1 to 9. Bank. 1 Olympia National Bank 1 to 9. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

337 FIDUCIARY POWERS Powers Powers granted granted DISTRICT NO. 12—Continued DISTRICT NO. 12—Continued WASHiNGTON—continued WASHiNGTON—continued Port Angeles—First National Bank__ 1 to 9. Tacoma— Pullman—First National Bank_ Ito7. National Bank of Tauoma Ito9. Raymond—First National Bank 1 to 9. Puget Sound National Bank Ito9. Rosalia—Whitman County National Ito9. Toppenish—First National Bank Ito9. Bank. Vancouver—Vancouver National Ito4. Seattle- Bank. First Seattle Dexter Horton Na- Ito9. Waitsburg—First National Bank Ito9. tional Bank. Walla Walla— Metropolitan National Bank 1 to 7 and 9. Baker-Boyer National Bank Ito9. National Bank of Commerce 1 to 9. First National Bank ___ 1 to 9. Pacific National Bank.. 1 to 9. Wenatchee—First National Bank 1 to 9. University National Bank 1 to 9. Yakima—Yakima First National Ito9. Spokane- First National Trust & Savings Ito9. HAWAIIAN ISLANDS Ol " d R a N nt ational Bank & Union 1 to 9. Honolulu—Bishop First National Ito8. Trust Co. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKS AUTHORIZED TO ACCEPT BILLS UP TO 100 PER CENT OF CAPITAL AND SURPLUS The following banks have been granted authority by the Federal Reserve Board to accept drafts and bills of exchange up to 100 per cent of their capital stock and surplus: DISTRICT NO. 1 Connecticut: Massachusetts—Continued. Hartford—Hartford National Bank & Trust Boston—Continued. Co. Webster & Atlas National Bank. New Haver —First National Bank & Trust Co. Dedham—Dedham National Bank. Maine: Fitchburg—Safety Fund National Bank. Portland- New Bedford- Canal National Bank. First National Bank. Portland National Bank. Safe Deposit National Bank. Massachusetts: Springfield — Springfield - Chapin National Boston— Bank. Atlantic National Bank. Worcester—Worcester County National Bank, First National Bank. Rhode Island: Merchants National Bank. Providence— National Shawmut Bank. Blackstone Canal National Bank. Old Coony Trust Co. Industrial Trust Co. Second National Bank. National Bank of Commerce & Trust Co. State S;;reet Trust Co. Providence National Bank. Rhode Island Hospital Trust Co. DISTRICT NO. 2 Connecticut: New York—Continued. Bridgeport—First National Bank & Trust Co. New York City—Continued. New Jersey: Chemical Bank & Trust Co. Hoboken—First National Bank. Commercial National Bank & Trust Co. Newark—National Newark & Essex Banking Corn Exchange Bank Trust Co. Co. Fifth Avenue Bank. New Brunswick—National Bank of New Jer- First National Bank. sey. Grace National Bank. Paterson— Guaranty Trust Co. Hamilton Trust Co. Harriman National Bank & Trust Co. Paterscn National Bank. International Trust Co. New York: Irving Trust Co. New York City- Marine Midland Trust Co. Bank of America, N. A. National City Bank. Bank of New York & Trust Co. New York Trust Co. Bankers Trust Co. Public National Bank & Trust Co. Chase National Bank. Utica—Utica Trust & Deposit Co. Chatham Phenix National Bank & Trust Co. DISTRICT NO. 3 Pennsylvania: Pennsylvania—Continued. Philadelphia- Philadelphia—Continued. Corn Exchange National Bank & Trust Co. Philadelphia National Bank. First National Bank. Tradesmen's National Bank & Trust Co. Markei; Street National Bank. DISTRICT NO. 4 Ohio: Pennsylvania: Cincinnati— Braddock—First National Bank. Fifth-Third Union Trust Co. Greensburg—First National Bank. Cleveland— Pittsburgh- Central United National Bank. Bank of Pittsburgh, N. A. Cleveland Trust Co. First National Bank. Guardian Trust Co. Mellon National Bank. Union Trust Co. Peoples-Pittsburgh Trust Co. Columbus- Union National Bank. City National Bank & Trust Co. Union Trust Co. Ohio National Bank. West Virginia: Toledo—C ammerce Guardian Trust & Savings Wheeling—Wheeling Bank & Trust Co. Bank. 338 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANKS AUTHORIZED TO ACCEPT BILLS UP TO 100 PER CENT 339 DISTRICT NO. 5 Maryland: Virginia: Baltimore- Danville—First National Bank. Baltimore Commercial Bank. Hampton—Merchants National Bank. Baltimore Trust Co. Norfolk- First National Bank. Norfolk National Bank of Commerce & Maryland Trust Co. Trusts. National Marine Bank. Seaboard-Citizens National Bank. Western National Bank. Virginia National Bank. South Carolina: Richmond- Charleston—South Carolina National Bank. Bank of Commerce & Trusts. Orangeburg—Edisto National Bank. Central National Bank. Rock Hill—Peoples National Bank. First-Merchants National Bank. DISTRICT NO. 6 Alabama: Georgia—Continued. Decatur—First National Bank in Decatur. Valdosta—First National Bank. Huntsville—Henderson National Bank. Louisiana: Mobile- Lake Charles—First National Bank, First National Bank. New Orleans- Merchants National Bank. American Bank & Trust Co. Montgomery—First National Bank. Canal Bank & Trust Co. Troy—Farmers & Merchants National Bank. Hibernia Bank & Trust Co. Florida: Interstate Trust & Banking Co. Jacksonville—Atlantic National Bank. Whitney-Central National Bank. Pensacola—Citizens & Peoples National Bank. Mississippi: Georgia: Laurel—First National Bank. Albany—Albany Exchange National Bank. Vicksburg—Merchants National Bank Atlanta—First National Bank, Trust Co. Macon—First National Bank & Trust Co. Tennessee: Savannah- Chattanooga- Citizens & Southern National Bank. First National Bank. Citizens Bank & Trust Co. Hamilton National Bank. Savannah Bank & Trust Co. Clarksville—First National Bank. DISTRICT NO. 7 Dlinois: Indiana: Chicago- Brazil—Riddell National Bank. Continental National Bank & Trust Co. Indianapolis—Fletcher- American National Drovers National Bank. Bank. First National Bank. Michigan: Foreman-State National Bank. Detroit- Harris Trust & Savings Bank. First National Bank in Detroit, National Bank of the Republic. National Bank of Commerce. Peoria—Commercial Merchants National Bank Wisconsin: & Trust Co. Milwaukee—First Wisconsin National Bank. DISTRICT NO. 8 Missouri: Tennessee: St. Louis- Memphis- First National Bank in St. Louis. First National Bank. Mississippi Valley Trust Co. Union Planters National Bank & Trust Co. DISTRICT NO. 9 Minnesota: Minnesota—C on tinued. Minneapolis- Minneapolis—Contined- First National Bank in Minneapolis. Northwestern National Bank. Midland National Bank & Trust Co. St. Paul—First National Bank. DISTRICT NO. 10 Colorado: Missouri—C on tinued. 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—First National Bank & Trust Commerce Trust Co. Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

340 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD DISTRICT NO. 11 Arizona: Texas—Continued. Nogales—F irst National Bank. Galveston— Texas: Hutchings-Sealy National Bank. Austin—American National Bank. United States National Bank. Brownwooc—First National Bank in Brown- Hillsboro—Citizens National Bank:. wood. Houston- Corpus Christi—State National Bank. First National Bank. Dallas- Houston National Bank. First National Bank in Dallas. National Bank of Commerce. Republic National Bank & Trust Co. Second National Bank. Eagle Pass—First National Bank. South Texas Commercial Nation .1 Baru El Paso—First National Bank. Union National Bank. Fort Worth— Navasota—First National Bank. Fort Worth National Bank. San Angelo—First National Bank. Stockyerds National Bank. Terrell—American National Bank. Gainesville—First National Bank. Waco—First National Bank. DISTRICT NO. 12 California: Oregon: Los Angeles- Portland- Citizens National Trust & Savings Bank. First National Bank. Security-First National Bank. United States National Bank. San Francisco- Washington: American Trust Co. Seattle- Anglo &: London-Paris National Bank. First Seattle Dexter Horton National Bank* Bank oi California, N. A. National Bank of Commerce. Crocker-First National Bank. Spokane- Pacific National Bank. Old National Bank & Union Trust Co. Wells Fargo Bank & Union Trust Co. Spokane & Eastern Trust Co. Santa Barbara—First National Trust & Savings Tacoraa—National Bank of Tacoma. Bank. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DESCRIPTION OF FEDERAL RESERVE DISTRICTS Land area Population Federal reserve district ( m sq il u e a s r ) e Apr. 1,1930 No. 1—Boston 61,345 7,779,639 No. 2—New York 51, 890 16,118,197 No. 3—Philadelphia.— 36, 842 7,556,155 No. 4—Cleveland- 73,424 11,307,895 No. 5—Richmond 152, 316 10,978,291 No. 6—Atlanta __. 248,226 11,238,049 No. 7—Chicago 190,513 18,406,863 No. 8—St. Louis 194, 810 9,615,046 No. 9—Minneapolis 414, 004 5,340,897 No. 10—Kansas City.._ 480,438 7,905,553 No. 11—Dallas 386,116 6,9.81,135 No. 12—San Francisco. 683,852 9,547,326 Total 2, 973, 776 122,775,046 FEDERAL RESERVE DISTRICTS DISTRICT NO. 1—BOSTON _ _ 61, 345 7,779,63& Connecticut (excluding Fairfield County) 4 189 1,220,201 Maine 29,895 797,423 Massachusetts 8,039 4,249,614 New Hampshire- 9,031 465,293 Rhode Island 1,067 687,497 Vermont _ - 9,124 359,611 DISTRICT NO. 2—NEW YORK 51,890 16,118,197 Connecticut (Fairfield County) 631 386,702 New Jersey - 3,605 3,143,429 Counties of— Bergen. Hunterdon. Morris. Sussex. Essex. Middlesex. Passaic. Union. Hudson. Monmouth. Somerset. Warren. New York 47, 654 12,588,066 DISTRICT NO. 3—PHILADELPHIA _ 36,842 7,556,155 Delaware _ 1,965 238,380 New Jersey _ _ _ „„ 897,905 Counties of— Atlantic. Cape May. Gloucester. Ocean. Burlington. Cumberland. Mercer. Salem. Camden. Pennsylvania __ 30, 968 6,419,870 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, 341 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

342 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Federal reserve district ( m sq il u e a s r ) e A P p o r p . u 1 l , a 1 t 9 io 3 n 0 DISTRICT NO. 4—CLEVELAND 73,424 11,307,895 Kentucky (eastern part) 17,614 1,249,517 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. Campbel.,. 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 6,646,697 Pennsylvania (western part) 13,864 3,211,480 Coun ties of— Allegheny. Crawford. Indiana. Venango. Armstrong. Erie. Jefferson. Warren. Beaver. Fayette. Lawrence. Washington. Butler. Forest. Mercer. Westmoreland. Clarion. Greene. Somerset. West Virginia (northern part) 1,206 200,201 Coun ;ies of— Brooke. Marshall. Tyler. Hancock. Ohio. Wetzel. DISTRICT NO. 5—RICHMOND.... 152,316 10,978,291 District of Columbia 62 486,869 Maryland 9,941 1,631,526 North Carolina 48,740 3,170,276 South Carolina 30,495 1,738,765 Virginia 40,262 2,421,851 West Virginia (southern part) 22,816 1,529,004 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. Doddridgi. Logan. Pocahontas. Wirt. Fayette. McDowell. Preston. Wood. Gilmer. Marion. Putnam. Wyoming. Grant. Mason. Raleigh. Greenbrier. Mercer. Randolph. Hampshiie. Mineral. Ritchie. DISTRICT NO. 6—ATLANTA 248,226 11,238,049 Alabama 51, 279 2,646,248 Florida . . 54,861 1,468,211 Georgia .58,725 2 908 50G Louisiana (southernpart) 26,891 1,423, 594 Parist es 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. Beauregari. Lafayette. St. John the Bap- West Baton Calcasieu. La Fourche. tist. Rouge. Cameron. Livingston. St. Landry. West Feliciana. East B iton Orleans. St. Martin. Rouge. Plaquemines. St. Mary. East Feliciana. Pointe Coupee. St. Tammany. Mississippi (southern part) 25, SI 9 962,931 Counties of— Adams. Harrison. Lawrence. Scott. Amite. Hinds. Leake. Sharkcy. Claiborne. Issaquena. Lincoln. Simpson, Clarke. Jackson. Madison. Smith. Copiah. Jasper. Marion. Stone. Covington. Jefferson. Neshoba. Walthall. Forrest. Jefferson Davis. Newton. Warren. Franklin. Jones. Pearl Riven Wayne. George. Kemper. Perry. Wilkinson. Greene. Lamar. Pike. Yazoo. Hancock. Lauderdale. Rankin. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

DESCRIPTION OF FEDERAL RESERVE DISTRICTS 343 FEDERAL RESERVE DISTRICTS—Continued Land area Population Federal reserve district ( m sq i u le a s r ) e Apr. 1,1930 DISTRICT NO. 6.—ATLANTA—Continued. Tennessee (eastern part).. 30,951 1,828,559 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 18,406,863 Illinois (northern part) - 35,448 6,390,122 Counties of— Boone. Ford. Livingston. Rock Island. Bureau. Fulton. Logan. Sangamon. Carroll. Grundy. McDonough. Schuyler. Cass. Hancock. McHenry. Shelby. Champaign. Henderson. McLean. Stark. Christian. Henry. Macon. Stephenson. Clark. Iroquois. Marshall. Tazewell. Coles. Jo Daviess. Mason. Vermilion. Cook. Kane. Menard. Warren. Cumberland. Kankakee. Mercer. Whiteside, De Kalb. Kendall. Moultrie. Will. De Witt. Knox. Ogle. Winnebago. Douglas. Lake. Peoria. Woodford. Du Page. La Salle. Piatt. Edgar. Lee. Putnam. Indiana (northern part) 26,707 2,630,115 Counties of—• Adams. Fountain. La Porte. Ripley. Allen. Franklin. Madison. Rush. Bartholomew. Fulton. Marion. St. Joseph. Benton. Grant. Marshall. Shelby. Blackford. Hamilton. Miami. Starke. Boone. Hancock. Monroe. Steuben. Brown. Hendricks. Montgomery. Tippecanoe. Carroll. Henry. Morgan. Tipton. Cass. Howard. Newton. Union. Clay. Huntington. Noble. Vermilion. Clinton. Jasper. Ohio. Vigo. Dearborn. Jay. Owen. Wabash. Decatur. Jennings. Parke. Warren. De Kalb. Johnson. Porter. Wayne. Delaware. Kosciusko. Pulaski. Wells. Elkhart Lagrange. Putnam. White. Fayette. Lake. Randolph. Whitley. Iowa 55,586 2,470,939 Michigan (southern part) 40,789 4,523,649 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. Oeeana. Weiford. Digitized for FRASE3R34 54—31- -23 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

344 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Federal reserve district (square Population miles) Apr. 1,1930' DISTRICT NO. 7.—CHICAGO—Continued Wisconsin (southernnarti 31,983 2,392,038 Counties of— Adams. Green Lake. Marquette. Sheboygan. Brown. Iowa. Milwaukee. Vernon. Calumei.. Jackson. Monroe. Walworth. Clark. Jefferson. Oconto. Washington. Columbia. Juneau. Outagamie. Waukesha. Crawford. Kenosha. Ozaukee. Waupaca. Dane. Kewaunee. Portage. Waushara. Dodge. Lafayette. Racine. Winnebago. Door, Langlade. Richland. Wood. Fond du Lac. Manitowoc. Rock. Grant. Marathon. Sauk. Green. Marinette. Shawano. DISTRICT NO. 3—ST. LOUIS 194,810 9,615,046 Arkansas 52,525 1,854,482 Illinois (southern part) 20,595 1 240 532 Counties of— Adams. Franklin. Macoupin. Randolph. Alexander. Gallatin. Madison. Richland. Bond, Greene. Marion. St. Clair. Browa. Hamilton. Massac. Saline. Calhcun. Hardin. Monroe. Scott. Clay. Jackson. Montgomery. Union. Clinton. Jasper. Morgan. Wabash. Craw ford. Jefferson. Perry. Washington. Edwirds. Jersey. Pike. Wavne. Effingham. Johnson. Pope. White. Fayette. Lawrence. Pulaski. Williamson. 9,338 608,388 Counties of- Clark. Greene. Martin. Spencer. Crawford. Harrison. Orange. Sullivan. Daviess. Jackson. Perry. Switzerland. Dubois. Jefferson. Pike. Vanderburg. Floyd. Knox. Posey. Warrick. Gibson. Lawrence. Scott. Washington. Kentucky (western part) 22, 567 1,365,072 Counties of— Adiir. Crittenden. Hopkins. Ohio. AlUn. Cumberland. Jefferson. Oldham. Anderson. Daviess. Larue. Owen. Ballard, Edmonson. Livingston. Russell. Barren. Franklin. Logan. Shelby. Be yle. Fulton. Lyon. Simpson. Breckenridge. Gallatin. McCracken. Spencer. Bullitt. Graves. McLean. Taylor. Butler. Grayson. Marion. Todd. Culdwell. Green. Marshall. Trigg. Cilloway. Hancock. Meade. Trimble. Carlisle. Hardin. Mercer. Union. Carroll. Hart. Metcalfe. Warren. Casey. Henderson. Monroe. Washington. Christian. Henry. Muhlenberg. Wayne. Clinton. Hickman. Nelson. Webster. Miss ssiDDi (norther*1 r>art.^ 20, 843 1 046 890 Alcorn. De Soto. Monroe. Tate. Attala. Grenada. Montgomery. Tippah. Benton. Holmes. Noxubee. Tishomingo. Bolivar. Humphreys. Oktibbeha. Tunica. Dalhoun. Itawamba. Panola. Union. Caroll. Lafayette. Pontotoc. Washington. Chicasaw. Lee. Prentiss. Webster. Choctaw. Leflore. Quitman. Winston. Clay. Lowndes. Sunflower. Yalobusha. Coahoma. Marshall. Tallahatchie. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

345 DESCRIPTION OF FEDERAL RESERVE DISTRICTS FEDERAL RESERVE DISTRICTS—Continued i Land area Federal reserve district ! i ( m sq il u e a s r ) e A P p o r p . u 1 l , a 1 t 9 i 3 on 0 DISTBICT No. 8.—ST. Louis—Continued. i Missouri (eastern part) i 58,206 2,711,685 Counties of— Adair. Douglas. Maries. Reynolds. Audrain. Dunklin. Marion. Ripley. Barry. Franklin. Mercer. St. Charles. Benton. Uasconade. Miller. St. Clair. Bollinger. Greene. Mississippi. St. Francois. Boone. Grundy. Moniteau. St. Louis. Butler. Harrison. Monroe. St. Louis City. Caldwell. Henry. Montgomery. Ste. Genevieve. C alia way. Hickory. Morgan. Saline. Camden. Howard. New Madrid. Schuyler. Cape Girardtjau. Ho well. Oregon. Scotland. Carroll. Iron. Osage. Scott. Carter. Jefferson. Ozark. Shannon. Cedar. Johnson. Peiniscot. 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. I Daviess. Macon. Randolph. WTebster. Dent, Madison. Ray. Wright. Tennessee (western part) 10,736 787, 997 Counties of— Benton. Fayette. Henry. Shelby. Carroll. Gibson. Lake. Tipton. Chester. Hardeman. Lauderdale. Weak ley. Crockett. Hardin. McNairy. Decatur. Hay wood. Madison. Dyer. Henderson. Obion. DlSTLICT NO. 9-MlNNEAPOLIS • 414,004 5,340,897 Michigan (northern part) . 1 16,691 318,676 Counties of— Alger. Dickinson. Keweenaw. Menominee. Baraga. Gogebic. Luce. Ontonagon. Chippewa. Houghton. Mackinac. Schoolcraft. Delta. Iron. Marquette. Minnesota,. . .. 1 80, 858 2. 553, 953 M^ ontana i 146 131 537,606 North Dakota. 1 70,183 680' 845 South Dakota 76,868 692,849 Wisconsin (northern part) 23, 273 546, 968 Counties of— Ashland. Dunn. Oneida. Sawyer. Barron. Eau Claire. Pepin. Taylor. Bayfleld. 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 7,905,553 Colorado ] 103,658 1,035, 791 Kansas. ; 81,774 1.880,999 Missouri (western part) 10,521 917, 682 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 1,377,96 3 New Me C xi o c u o n t ( i n e o s r o t f h — ern part) 48,359 227,59 7 Bernalillo. Mora. San Juan. Taos. Colfax. Rio Arriba. San Miguel. Union. McKinley. Sandoval. Santa Fe. Valencia. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

346 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD FEDERAL RESERVE DISTRICTS—Continued Land area Federal reserve district (square Population miles) Apr. 1,1930 DISTRICT NO. 1C—KANSAS CITY—Continued. Oklahoma (northwestern part) 61,770 2,239,956 Counties of— Adair. Ellis. Logan. Pontotoc. Alfalfa. Garfleld. Love. Pottawatomie. Beaver. Garvin. McClain. Roger Mills. BeckhaiQ. Grady. Mclntosh. Rogers. Blaine. Grant. Major. Seminole. Caddo. Greer. Mayes. Sequoyah. Canadian. Harmon. Murray. Stephens. Carter. Harper. Muskogee. Texas. Cherokee. Haskell. Noble. Tillman. Ciinarron. 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.... 97,548 225,565 DISTRICT NO. 11—DALLAS 386,116 6,981,135 Arizona (southeastern part) 23,412 126,617 Counties of— Coehise. Qreenlee. Pima. Santa Cruz. Graham. Louisiana (northern part) 18,518 677,999 Parishes of— Bien villa. 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. Concorciia. Lincoln. Sabine. New Mexico (southern part) 74,144 195,720 Counties of— Catron. Eddy. Lincoln. Sierra. C haves. Grant. Luna. Socorro. Curry. Guadalupe. Otero. Torrence. De Baca. Hidalgo. Quay. Dona Ana. Lea. Roosevelt. Oklahoma (southeastern part). 7,644 156,084 Counties of— Atoka. Choctaw. Johnston. Marshall. Bryan. Coal. McCurtain. Pushmataha. Texas 262,398 5,824,715 DISTRICT NO. i:i—SAN FRANCISCO 683,852 9,547,326 Arizona (northwestern part) 90,398 308,956 Counties of— Apache. Maricopa, Navajo. Yavapai. Coconino. Mohave. Pinal. Yuma. ruia villa. 155,652 5,677,251 Idaho 83,354 445,032 109,821 91,058 Oregon 95,607 953,786 Utah 82,184 507,847 Washington 66,836 1,563,396 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BRANCH TERRITORIES [December 31,1930] BUFFALO BRANCH (District No. 2).—The 10 most westerly counties of New York State, as follows: Monroe Orleans Allegany Wyoming Chautauqua Genesee Erie Cattaraugus Livingston Niagara CINCINNATI BRANCH (District No. 4).—That part of Kentucky in Federal reserve district No. 4, and the following 25 counties in southern Ohio: Adams Clermont Greene Meigs Ross Athens Clinton Hamilton Miami Scioto Brown Darke Highland Montgomery Vinton Butler Fayette Jackson Pike Warren Clark Gallia Lawrence Preble Washington PITTSBURGH BRANCH (District No. 4).—Those portions of the States of Pennsylvania and West Virginia included in Federal reserve district No. 4. BALTIMORE BRANCH (District No. 5).—The State of Maryland and the following 30 counties of West Virginia: Barbour Grant Lewis Pendleton Taylor Berkeley Hampshire Marion Pleasants Tucker Braxton Hardy Mineral Preston Upshur Calhoun Harrison Monongalia Randolph Webster Doddridge Jackson Morgan Ritchie Wirt Gilmer Jefferson Nicholas Roane Wood CHARLOTTE BRANCH (District No. 5).—The following counties in the States of North Carolina and South Carolina: NORTH CAROLINA Alexander Caldwell Haywood McDowell Swain Alleghany Catawba Henderson Mecklenburg Transylvania Ashe Cherokee Iredell Mitchell Union A very Clay Jackson Polk Watauga Buncombe Cleveland Lincoln Rowan Wilkes Burke Gaston Macon Rutherford Yancey Cabarrus Graham Madison Stanly SOUTH CAROLINA Abbeville Edgefield Lancaster Newberry Saluda Aiken Fairfield Lauren s Oconee Spartanburg Anderson Greenville Lexington Pickens Union Cherokee Greenwood McCormick Richland York Chester BIRMINGHAM BRANCH (District No. 6).—The State of Alabama except the following counties: Mobile, Baldwin, Russell, Pike, Barbour, Coffee, Dale, Henry, Covington, Geneva, and Houston, and towns and cities in Lee and Chambers counties located on or south of the Atlanta & West Point Railroad and the Western Railway of Alabama. JACKSONVILLE BRANCH (District No. 6).—The entire State of Florida. NASHVILLE BRANCH (District No. 6).—That part of the State of Tennessee included in Federal reserve district No. 6 with the exception of the city of Chattanooga. NEW ORLEANS BRANCH (District No. 6).—Those parts of the States of Louisiana and Mississippi located in Federal reserve district No. 6, and the counties of Mobile and Baldwin in Alabama. DETROIT BRANCH (District No. 7).—The following 19 counties in the State of Michigan: Bay Ingham Livingston Saginaw Tuscola Genesee Jackson Macomb Sanilac Washtenaw Hillsdale Lapeer Monroe St. Clair Wayne Huron Lenawee Oakland Shiawassee LITTLE ROCK BRANCH (District No. 8).—Territory is not determined by State or county lines. Branch territory consists of all cities in Arkansas except those assigned to the head office and to the Memphis branch. (For names of cities see Federal Reserve Interdistrict Collection System list.) LOUISVILLE BRANCH (District No. 8) .—Territory is not determined by State or county lines. Branch territory consists of all cities in Kentucky and Indiana, included in Federal reserve district No. 8, except those assigned to the head office. (For names of cities see Federal Reserve Interdistrict Collection System list.) MEMPHIS BRANCH (District No. 8) .—Territory is not determined by State or county lines. Branch territory consists of all cities in Mississippi included in Federal 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.) 347 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

348 ANNUAL REPORT OF THE FEDERAL RESERVE BOARD HELENA BRANCH (District No. 9).—The entire State of Montana. DENVER BRANCH (District No. 10).—The entire State of Colorado and that part of the State of New Mexico included in Federal reserve district No. 10. OKLAHOMA CITY BRANCH (District No. 10).—That part of the State of Oklahoma located in Federal reserve district No. 10. OMAHA BRANCH (District No. 10).—The entire States of Nebraska and Wyoming. EL PASO BRANCH (District No. 11).—That part of the States of Arizona and New Mexico located in Federal reserve district No. 11, and the following 14 counties in the State of Texas: Andrews Ector Jeff Davis Midland Ward Crane El Paso Loving Fecos Winkler Culberson Hudspeth Martin Reeves HOUSTON BRANCH (District No. 11).—The following 41 counties in the southeast part of the State of Texas: Anderson Colorado Jackson Montgomery Shelby Angelina Favette Jasper Nacogdoches Trinity Austin Fort Bend Jefterson Newton Tyler Bastrop Galveston Lavaca Orange Victoria Brazoria Grimes Lee Polk Walker Brazos Hardin Liberty Sabine Waller Burleson Harris Madison San Augustine WashingU Chambers Houston Matagorda San Jacinto Wharton Cherokee ANTONIO BRANCH (District No. 11).—The following 54 counties in the State of Texas: Aransas Comal Hidalgo Llano Starr Atascosa De Witt Jim Hogg Live Oak Terrell Bandera Dimmit Jim Wells Mason Travis Bee Duval Karnes Maverick Uvalde Bexar Edwards Kendall Me Mull en Val Verde Blanco Frio Kenedy Medina Webb Brewster Gillespie Kerr N ueces Willacy Brooks Goliad Kimble Presidio Wilson Caldwell Gonzales Kinney Real Zapata Calhoun Guadalupe Kleburg Refugio Za valla Cameron Hays La Salle San Patricio Los ANGELES BRANCH (District No. 12).—That part of the State of Arizona located in Federal reserve district No. VI, and the following counties in California: Imperial Los Angeles Riverside San Diego Ventura Inyo Orange San Bernardino Santa Barbara PORTLAND BRANCH (District No. 12).—The entire State of Oregon, except the towns of Klamath Falls, Lakeview, and Merrill, which are affiliated with the head office, and the following five counties in the State of Washington: Clarke Cowlitz Klickitat Skamania Wahkiakum and the town of Ilwaco, Wash. SALT LAKE CITY BRANCH (District No. 12).—The entire State of Utah and the following counties in Idaho and Nevada: IDAHO Ada Bonneville Custer Jerome Payette Adams Butte El more Lemhi Power Bannock Cam as Franklin Lincoln Teton Bear Lake Canyon Fremont Madison Twin Falls Bingham Carribou Gem Minidoka Valley Blaine Cassia Gooding Oneida Washington Boise Clark Jefferson Owyhee NEVADA Clark Elko Lincoln White Pine SEATTLE BRANCH (District No. 12).—The following 16 counties in the State of Washington, except the town of Ilwaco, Wash. Clallam King Lewis Pierce Snohomish Grays Harbor Ki,tsap Mason San Juan Thurston Island Kittitas Pacific i Skagit Whatcom Jefferson SPOKANE BRANCH (District No. 12).—The following counties in the States of Washington and Idaho: WASHINGTON Adams Columbia Garfield Pend Oreille Walla Walla Asotin Douglas Grant Spokane Whitman Benton Ferry Lincoln Stevens Yakima Chelan Franklin Okanogan IDAHO Benewah Boundary Idaho Latah Nez Perce Bonner Clearwater Kootenai Lewis Shoshone i Except the town of Ilwaco (see Portland branch). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE DISTRICTS , DALLAS® =5-J Jii ^ TEXAS •—BOUNDARIES OF FEDERAL RESERVE DISTRICTS -—BOUNDARIES OF FEDERAL RESERVE BRANCH TERRITORIES ® FEDERAL RESERVE BANK CITIES • FEDERAL RESERVE BRANCH CITIES O FEDERAL RESERVE BANK AGENCY Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

I N D EX Acceptances: Bankers'— Held by accepting banks 129 Held by Federal reserve banks 49, 129, 140 Held by member banks on call dates 129 Outstanding 128 Distribution of 129 Open-market discount rates 80, 81 Banks, list of, authorized to accept bills up to 100 per cent of capital and surplus 338-340 Held by Federal reserve banks 49, 140 Maturity of bills purchased and held by Federal reserve banks 50, 140 Number of pieces handled by Federal reserve banks 14, 59, 153, 154 Outstanding 128, 129 Purchased by member banks 93, 129, 186 Rates, discount and open-market— Average rates earned on bills bought by Federal reserve banks 13, 79 Buying rates of Federal reserve banks 77 Changes in Federal reserve bank rates 3, 75, 76 Chart showing 4 Open-market rates in New York City 80, 81 Trade, held by Federal reserve banks 49, 140 (See also Bills bought; Bills discounted.) Adjusted-service certificates, discount of paper secured by 49 Administrator, list of national banks authorized to act as 313-337 Advisory council, Federal. (See Federal advisory council.) Agencies of Federal reserve banks. (See Branches and agencies.) Agricultural paper: Discount rates 75 Held by Federal reserve banks 49, 140 Amendments to Federal reserve act. (See Federal reserve act.) Amendments to regulations of the Federal Reserve Board. (See Regulations.) Area of Federal reserve districts 341-346 Assessment for expenses of Federal Reserve Board 28, 162 Assets and liabilities. (See Resources and liabilities.) Assignee, list of national banks authorized to act as 313-337 Automobiles: Factory employement index 220 Factory pay-roll index 223 Production index 218 Balance sheets. (See Condition of banks.) Bank debits 130 Bank failures: By Federal reserve districts 205 By months 132 By size of city or town_ 133 By States 206 By years 131 Discussion of 17 Number, classified according to capital stock 133 Bank mergers 21,134 Bank premises, Federal reserve 15, 43, 44-47, 62, 163 Book value 62 Cost of 62 Date occupied 62 Depreciation charges 163 Repairs, cost of 162 351 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

352 INDEX Bank suspensions: By Federal reserve districts 205 By months 132 By size of city or town 133 By States 206 By years 131 Discuss ion of 17 Number, classified according to capital stock 133 Bankers' acceptances. (See Acceptances.) Bankers' balances of member banks 94, 124, 171-182, 204 By Federal reserve districts 204 In New York City and other leading cities 124 On call dates 94 171-182 Banking, branch and chain, discussion of 18 Banking corporations authorized to do foreign banking business: Amendment to Regulation K 25, 263 Examination of 17 Banks, list of, granted authority to accept bills up to 100 per cent of capital and surplus 338-340 Bills bought by Federal reserve banks 2, 31-39, 41-47, 141-152 Discussion of 2 Earnings on 12, 63, 162 Rates of 13,79 Holdings— By classes 49 By maturities 50 Outright 41, 42, 44, 141-152 Under resale agreement 41, 42, 44, 141-152 Volume of— Federal reserve banks 14, 59, 15S Federal reserve branch banks 154 Bills discounted by Federal reserve banks 31-39, 41-47, 141-152 Earnings on 12, 63, 162 Rates of 13, 79 Holdings— By classes 49, 140 By maturities 50, 140 By months 139 Outright 42, 44 Under resale agreement 42, 44 Volume of— Federal reserve banks 14, 59, 153 Federal reserve branch banks 154 Bills payable and rediscounts, member banks on call dates 94, 171-182 Bonds: Capital issues 213 Index of prices 214 Held by member banks 93, 186 United States. (See United States securities.) Book value, Federal reserve bank premises 62 Borrowings of member banks at Federal reserve banks: All banks— By Federal reserve districts 185 By months 96,97 By States 193 Reporting member banks— By Federal reserve districts 203 By months 98 By weeks 101-107 Iii New York City 109-115 Outside New York City 117-123 Branch banking, discussion of 18 Branches and agencies of Federal reserve banks: Bank premises— Ccst of 62 ~Diite occupied 62 Book value 62 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 353 Branches and agencies of Federal reserve banks—Continued. Page Building for Los Angeles branch 15 Building for Pittsburgh branch 15 Clearing operations 15, 154 Counties comprising territory 347, 348 Directors of 281-282 Expenses of 16 Managers of 281-288 Number of 15 Territory 347, 348 Volume of operations 15, 154 Brokers, loans to: As reported by New York Stock Exchange 126 By member banks 93, 125, 126, 127, 186 In New York City— By weeks 125 On call dates 127 Outside New York City 127 Building contracts awarded, index of 215 Building materials, wholesale prices, index of 224 Buildings, Federal reserve banks 15, 62, 162, 163 Cost of bank premises 62 Book value 62 Date occupied 62 Depreciation charges 163 Repairs, cost of 162 Call loans: In New York City 125, 126 Money rates in New York City 3, 80, 81 Cancellation of Federal reserve bank stock held by discontinued banks, amendment to Federal reserve act regarding 229 Capital: Banks suspended 131, 205, 206 Federal reserve banks 14, 43, 44r-47 Member banks 91, 92, 94, 171-182 State bank members 292-309 Capital issues 213 Capital stock of State member banks, classification according to 310-312 Car loadings, index of 215 Cash in vault, member banks: By weeks 101-107 In New York City 109-115 Outside New York City 117-123 Cash reserves of Federal reserve banks 40, 41, 42, 44, 46, 141-152 Cement, clay, and glass: Factory employment index 220 Factory pay-roll index 223 Central banks, foreign: Discount rates 84 Due to Federal reserve banks from 42, 44, 46 Open-market rates 85 Central reserve city banks: Condition of 92 Deposits, reserves, and borrowings at Federal reserve banks 96 Loans and investments 93 Certificates of indebtedness, Treasury: Held by Federal reserve banks 42, 51, 52, 54, 58 Temporary 1-day, held by Federal reserve banks 52, 54, 58 Yield on 80,81 Chain banking, discussion of 18 Chairmen of board of directors of Federal reserve banks. (See Federal reserve agents.) Changes in discount rates of Federal reserve banks 3, 4, 75 Changes in membership in Federal reserve system: B}^ class of member 134 By years 134 Discussion of 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

354 INDEX Chart: Page Federal reserve bank credit 2 Factory employ merit 9 Industrial production 9 Money in circulation 8 Money rates in New York City 4 Check clearing and collection: Amendment to Regulation J 25, 260 Gold settlement fund transactions 60, 155 Operations, volume of— Federal reserve banks 14, 59, 153 Federal reserve branch banks 15, 154 Par list, number of banks on 22, 61, 156, 157 Chemicals: Factory employment index 220 Factory pay-roll index 223 Prices, wholesale, index of 224 Circulation, money. (See Currency; Federal reserve notes; Money.) Classification according to capital stock, State bank members 310—312 Classification of loans and investments of member banks on call dates 93, 186 Clayton Antitrust Act: Adminis tration of, by Federal Reserve Board 27 Amendment to regulation L 25, 269 Coal, index of production 219 Coin: Circulation 71 Held by Federal reserve banks 42, 44 Received and counted— At Federal reserve banks 14, 59, 153 At Federal reserve branch banks 15, 154 Collateral held by Federal reserve agents as security for Federal reserve notes 64 Collateral notes held by Federal reserve banks 49, 140 Collection of checks. (See Check clearing and collection.) Commercial paper: Held by Federal reserve banks 49, 140 Money" rates in New York City 3, 80, 81 Outstanding 1 128 Purchased by member banks 93, 186 Commodity prices, wholesale, index of 224 Comptroller of the Currency, examination of banks by, recommendations of Federal advisory council relative to bill H. R. 7966*1 227 Condition o:: banks: All banks in the United States— Deposits, exclusive of interbank deposits 90, 167 I n vestments— By Federal reserve districts 166 By States 170 Loans and investments 89, 164-166, 168-170 By Federal reserve districts 164-166 By States 168-170 Countr y banks 92 Federal reserve banks— At end of each month 44 Bills bought, holdings of— By classes 49 By maturities 50 Bills discounted, holdings of— By classes 49, 140 By months 139 By maturities 50, 140 By weeks 41 Deposits, reserves, note circulation, and reserve percentages 40 Each bank 46, 47, 141-152 In detail 42 United States securities, holdings of._ 31-39, 41-47, 51, 52, 54, 141-152 By classes 51 In system investment account 52, 54 Digitized for FRASER Temporary 1-day certificates of indebtedness 52, 54, 58 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 355 Condition of banks—Continued. Member banks— All banks— Page By Federal reserve districts 171-182 Combined 94 National and State banks 91 Reserve city and country banks 92 Bankers' balances 94, 124, 204 By Federal reserve districts 204 In New York City and other leading cities 124 Borrowings at Federal reserve banks— All banks— By Federal reserve districts 185 By months 96, 97 By States , 193 Reporting banks— By Federal reserve districts 203 By months 98 By weeks __ 101-107 In New York City 109-115 Outside New York City 117-123 Deposits, time and demand— All banks 94, 96, 171-182, 183 By months 183 On call dates 94, 171-182 Reporting banks— By Federal reserve districts 200, 201 By months 98 By weeks 101-107 In New York City__ 109-115 Net demand, by weeks 200 Outside New York City •__• 117-123 Time, by weeks 201 Deposits subject to reserves, reserves required, reserves held, and borrowings at Federal reserve banks 96 Investments— All banks 171-182, 192 By States 192 Reporting banks 100, 108, 116, 199 By weeks 199 Loans and investments— All banks 93, 94, 171-182, 186, 188-192 By States 188-192 Classification, on call dates 93, 186 Discussion of 9 Reporting banks 98, 100, 122, 195 Total, by weeks 195 Loans, all other, by weeks 198 Loans, investments, deposits, reserves, and borrowings at Federal reserve banks 98 Loans on securities 197 Loans to customers and open-market loans 191 Loans, total, by weeks 196 Reserve balances... 31-37, 40-47, 94, 97, 99, 101-123, 141-152, 184, 202 All banks 94, 97, 184 By Federal reserve districts 184 By months 97 On call dates 94 Reporting banks 99, 101-123, 202 By Federal reserve districts 202 By months . « 99 By weeks 101-107 In New York City 109-115 Outside New York City 117-123 National banks 91 Reserve city banks 92 State bank members 91 Congress, recommendation of advisory council relative to McFadden bill. _ 227 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

356 INDEX Page Copper, index of production 219 Cost of Federal reserve bank premises -62 Counties in Federal reserve districts 341-346 Counties in Federal reserve branch territories 347, 348 Consolidations, bank 21, 134 Country bank members: Condition of 92 Deposits, reserves required, reserves held, and borrowings at Federal reserve banks 96 Loans and investments, classification of, on call dates 93 Credit: Federal reserve bank. (See Federal reserve bank credit.) Member bank 87 Cunningham, Edward H., member of Federal Reserve Board, death of 28 Currency: Amounts received and counted— At Federal reserve banks 14,59, 153 At Federal reserve branch banks 15, 154 Circulation 7, 8, 31-37, 40, 41, 70, 71 By months 70 By kinds 71 Chart showing 8 Discussion of » 7 Federal reserve, cost of 13, 163, 276 Debits to individual account 130 Deferred availability items of Federal reserve banks 43, 44-47 Deficient reserve penalties imposed by Federal reserve banks 63, 162 Demand deposits. (See Deposits.) Department-store sales, index of 215 Deposits: All bants in the United States, exclusive of interbank deposits 90, 167 Banks suspended— By years 131 By months 132 By Federal reserve districts 205 By States 206 Federal reserve banks 40, 41, 43, 44^47, 141-152 All banks combined 41 By months 40 By weeks 41 Each bank., 46, 141-152 Foreign bank 40, 43, 44, 46 Government— Held by Federal reserve banks 40, 43-47 Held by member banks 94, 101-123, 171-182 By weeks 101-107 In New York City 109-115 On call dates 94, 171-182 Outside New York City 117-123 Member banks, time and demand— All banks 94, 96, 171-182, 183 By months 183 On call dates 94, 171-182 Reporting banks— By Federal reserve districts 200, 201 By months 98 By weeks 101-107 In New York City 109-115 Net demand, by weeks 200 Outside New York City 117-123 Time, by weeks 201 Net demand, reporting member banks 200 Net demand and time, all banks 183 State bank members 292-309 Time, reporting member banks 201 Deputy chairmen of board of directors of Federal reserve banks, list of. 281-288 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 357 Directors of Federal reserve banks: Election of, amendment to Federal reserve act regarding 231 List of 281-288 Meetings, expenses of 162 Discount and open-market operations of Federal reserve banks: Acceptances. {See Acceptances.) Bills bought 2, 31-39, 41-47, 141-152 Discussion of 2 Earnings on . 12, 63, 162 Rates of 13, 79 Holdings— By classes 49 By maturities 50 Outright 41, 42, 44, 141-152 Under resale agreement 41, 42, 44, 141-152 Volume of— Federal reserve banks , 14, 59, 153 Federal reserve branch banks 154 Bills discounted . 31-39,41-47, 141-152 Earnings on 12, 63, 162 Rates of 13, 79 Holdings— By classes 49, 140 By maturities. 50, 140 By months 139 Discussion of 2 Outright 42,44 Under resale agreement 42, 44 Volume of— Federal reserve banks 14, 59, 153 Federal reserve branch banks 154 Collateral notes of member banks discounted and held 49, 140 Commercial and agricultural paper discounted 49, 140 Dollar exchange bills discounted or purchased 49 Finance companies, eligibility of notes of, recommendations of advisory council relative to 228 Maturity of bills purchased or held 50, 140 Number of member banks discounting paper— By Federal reserve districts 185 By months 48 By States 194 Number of pieces handled 14, 59, 153 One borrower, limitation on discount of paper of— Amendment to Federal reserve act 25, 229 Amendment to Regulation A 23, 232 Rates charged and rates of earnings on bills discounted 13, 79 Recommendations of Federal advisory council relative to 828 United States securities— Earnings and rates of earnings 13, 63, 79, 162 Paper secured by, purchased and held 2, 42, 49, 140 Purchased and held 2, 31-39, 41-47, 51, 52, 54, 58, 141-152 Volume of operations 14, 59, 153, 154 Discount and open-market rates: Average rates earned by Federal reserve banks on— Acceptances 79 Bills discounted 13, 79 Bills bought 13, 79 United States securities 13, 79 Buying rates on acceptances 77, 78 Central banks in foreign countries— Changes in 84 Open-market rates, by months 85 Changes in Federal reserve bank rates 4, 75 Recommendations of Federal advisory council relative to 228 Open-market rates in New York City— By months 80 By weeks 81 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX Discount and open-market rates—Continued. Page Rates charged customers— In New York City 82 In principal cities 83 Discounts. (See Discount and open-market operations.) Districts, Federal reserve. (See Federal reserve districts.) Dividends: Federal reserve banks 12, 15, 63, 158, 163 Member banks 136, 207 National banks 208 State bank members 209 Dollar exchange bills: Held by Federal reserve banks 49 Outstanding 128 Drafts, demand and sight, held by Federal reserve banks 49, 140 Due from fc reign banks to Federal reserve banks 38, 42, 44, 46 Due to and from banks (bankers' balances) 94, 124, 171-182, 204 By Federal reserve districts 204 In New York City and other leading cities 124 On call dates 94, 171-182 Earmarked ?old for foreign account 68 Earning assets of member banks 135 Earnings and expenses: Federal reserve banks— Discussion of 12 Each bank during year 1930 162 Earnings, by sources 63 Rates of earnings 13, 79 Recommendations of Federal advisory council relative to division of earnings, as proposed in bill H. R. 7966 227 Years 1914-1930 63, 158-161 Each bank 158-161 Member banks 135, 136, 207 National banks 208 State bank members 209 Election of directors, amendment to Federal reserve act regarding 231 Eligible paper held by Federal reserve agents as security for Federal reserve notes 64 Employees: Federal reserve banks, number and salaries 13, 289-291 Federal Reserve Board, salaries 273-275 Employment, factory: Chart showing 9 Index of . 215, 220 England: Discount rates of Bank of 84 • Open-market money rates 85 Examination of Federal reserve banks: Federal advisorv council recommendations on provisions contained in bill H. R. 7966 227 Number of 17 Examination of member banks, amendment to Federal reserve act regarding 230 Examiners: Federal reserve banks, salaries 274 National banks, number and salaries 278-280 Executor, list of national banks authorized to act as 313-337 Expenses: Branches and agencies of Federal reserve banks 16 Federal reserve banks 12, 63, 158-162 Fiscal agency departments of Federal reserve banks 163 Federal Reserve Board 28, 276-277 Membe r banks 207 National banks 208 State bank members 209 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 359' Exports and imports: Acceptances based on— Page Outstanding 128 Purchased and held by Federal reserve banks 49 Gold— By countries 68 By months 69 Discussion of 6 Expressage, cost of, at Federal reserve banks 162 Factory employment and payrolls 7, 9, 215, 220, 223. Failures, bank: By Federal reserve districts 205 By months 132 By size of city or town 133 By States 206 By years 131 Discussion of 17 Number, classified according to capital stock 133 Farm products, prices of, index of 224 Farm land, loans on, by member banks 93, 186 Federal advisory council: Meetings of 28 Expenses of 162 Members of 227,28a Recommendations of, to Federal Reserve Board— Eligibility for rediscount of notes of finance companies 228 Examination of banks by Comptroller of the Currency as proposed in bill H. R. 7966 1 227 Open-market operations and rediscount rates 228 Federal intermediate credit banks: Bills discounted for 49 Borrowings from Federal reserve banks 49, 97, 193 Debentures purchased by Federal reserve banks 42 Federal land bank bonds purchased by Federal reserve banks 42 Federal reserve act, amendments to: Authorizing national banks to surrender trust powers 26, 230- Cancellation of Federal reserve bank stock held by discontinued banks 26, 229 Election of directors of Federal reserve banks 27, 231 Expense of examinations of member banks 26, 230 Rediscount of paper of one borrower 25, 229 Waiver of notice required of withdrawing member banks 26,229 Federal reserve agents: Conferences of 28 Expenses of 162 Federal reserve note accounts 64 Gold fund, summary of transactions 60, 155 Gold held by 42,44 List of 281-288 Salaries of 289-291 Federal reserve bank credit: Chart showing 2 Discussion of 1-10 Factors of increase or decrease in— Annual averages 31 By weeks 36 Chart showing 5 Monthly averages 32-34 Weekly averages -_ 35 Outstanding 38- (See also Federal reserve banks.) Federal reserve bank examiners, salaries 274 Federal reserve bank float 38, 44 Federal reserve bank notes: Circulation 71 Held by Federal reserve banks 42 33454—31 24 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

360 FNTDEX Federal reserve bank stock, cancellation of, by discontinued banks: Page Amendment to Federal reserve act regarding 26, 229 Amendment to Regulation I 24, 257 Federal reserve banks: Acceptances purchased or discounted by. (See Acceptances.) Bank premises 15, 43, 44r-47, 62, 163 Branches; and agencies of— Bank premises-^- Cost of 62 Date occupied 62 Book value 62 Building for Los Angeles branch 15 Building for Pittsburgh branch 15 Clearing operations 15, 154 Counties comprising territory _ 347,348 Directors of 281-288 Expenses of 16 Managers of 281-288 Number of 15 Territory 347,348 Volume of operations 15, 154 Building operations 15, 62 Capital 14, 43, 44-47 Chairmen of board of directors, list of 281-288 Clearing operations 14, 59, 153 Condition of. (See Condition of banks.) Deposits. (See Deposits.) Director,1?— Election of, amendment to Federal reserve act regarding 27, 231 List of 281-288 Discount rates. (See Discount and open-market rates.) Discounts. (See Discount and open-market operations.) Dividends paid 12, 15, 63, 158, 163 Earnings; and expenses— Discussion of 12 Each bank during year 1930 162 Earnings, by sources 63 Rates of earnings 13, 79 Years 1914-1930 63, 158-161 Each bank 158-161 Employees, number and salaries 289-291 Examinations of— Number 17 Recommendations of Federal advisory council relative to bill H. R. 7966 227 Federal reserve notes. (See Federal reserve notes.) Fiscal agency operations 163 Franchise tax paid to Government 15, 63, 158, 163 Gold held by 42, 44, 46 Gold redemption fund 42, 44, 46 Gold reserves 42, 44, 46 Gold settlement fund 42, 44, 60, 155 Government deposits held by 40, 43-47 Governors— Conferences of 28 Expenses of 162 List of 281-288 Salaries of 289-291 Number of member banks discounting paper at 48, 185, 194 Officers and directors, list of 281-288 Officers, salaries of 289-291 Profit and loss account 158, 163 Reserve percentages 40 Reserves 40, 41-47, 141-152 Resources and liabilities— All banks combined 41 At :he end of each month 44 Each bank 46, 141-152 Digitized for FRASEWR eekly statement and balance sheet items 42 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 361 Federal reserve banks—Continued. Salaries— Pase Bank examiners 247 Officers and employees 289-291 r Stock, cancellation of, by discontinued bank— Amendment to Federal reserve act regarding 26, 229 Amendment to Regulation I 24, 257 Surplus, accounts transferred to 15, 63, 158, 163 Tax, franchise, paid to Government 15, 63, 158, 163 United States Government securities— Bills discounted secured by, holdings of 2, 42, 49, 140 Bonds bought by 42,51 Certificates of indebtedness, holdings of 42, 51, 52, 54, 58 Temporary 1-day certificates 52, 54, 58 Earnings and rates of earnings on purchases 13, 63, 79, 162 Holdings of 2, 31-39, 41-47, 51, 52, 54, 141-152 By classes 51 Bought outright 41, 42, 51, 141-152 Bought under resale agreement 41, 42, 51, 141-152 In system investment account 52, 54 Temporary 1-day certificates 52, 54, 58 Issues, redemptions, and exchanges, handled by fiscal agency departments 14, 59, 153, 154 Liberty bonds, holdings of 42, 51 Paper secured by, holdings of 2, 42, 49, 140 Rates of earnings on purchases 13, 79 Treasury bills, holdings of 42, 51 Treasury bonds, holdings of 42, 51 Treasury notes, holdings of 42, 51 Volume handled 14, 59, 153, 154 Volume of operations 14, 59, 153 All banks 14, 59 Each bank 153 Branches 15, 154 Federal Reserve Board: Assessment for expenses of 28, 162, 276 Clayton Act, administration of 27 Conferences with advisory council, governors, and agents 28 Cunningham, Edward H., member, death of 28 Directory 273 Employees, number and salaries 273-275 Expenses of 28, 276-277 Members of 273 Meyer, Eugene, appointed governor 28 Officers, number and salaries 273-275 Platt, Edmund, vice governor, resignation of 28 Receipts and disbursements 276-277 Regulations of. (See Regulations of Federal Reserve Board.) Salaries of officers and employees 273-275 Young, Roy A., governor, resignation of 28 Federal reserve branch banks: Bank premises— Cost of 62 Date occupied 62 Book value 62 Building for Los Angeles branch 15 Building for Pittsburgh branch 15 Clearing operations 15, 154 Counties comprising territory 347, 348 Directors of I 281-288 Expenses of 16 Managers of 281-288 Number of 15 Territory 347, 348 Volume of operations 15, 154 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

362 INDEX Federal reserve districts: Page Area, square miles 341-346 Counties comprising branch territories 347, 348 Counties in divided States 341-346 Map shewing outline 349 Population 341-346 Federal reserve inter district collection system. (See Check clearing and collection.) Federal reserve notes: Circulation 40-47, 71, 141-152 By months 40 Each Federal reserve bank 141-152 • Cost of 13, 163,276 Eligible paper held as collateral against 64 Federal reserve agents' accounts 64 Gold and gold certificates held as collateral against 42, 44, 46, 64 Held by Federal reserve agents 42, 44, 64 Held by Federal reserve banks ' 42, 44, 46, 64 Fiduciary powers of national banks: Amendment to Regulation F 24, 245 Amendment to Federal reserve act 26, 230 List of rational banks authorized to exercise 313-337 Number of permits issued 23 Recommendations of Federal advisory council relative to granting permits, proposed in bill H. R. 7966 227 Surrender of, amendment to Federal reserve act regarding 230 Finance companies, eligibility of notes of, recommendations of advisory council relative to 228 Fiscal agency operations of Federal reserve banks 163 Float, reserve bank 38, 44 Food products: Production index 218 Factory employment index 220 Factory pay-roll index 223 Food prices, wholesale, index of 224 Foreign bank deposits held by Federal reserve banks 40, 43, 44, 46 Foreign banking, corporations authorized to engage in: Amendment to Regulation K, regarding 25, 263 Examination of 17 Foreign banks: Deposits of, held by Federal reserve banks 40, 43, 44, 46 Due to [Federal reserve banks from 38, 42, 44, 46 Foreign caphal issues 213 Foreign central banks, money rates: Changes in 84 Open-market rates, by months 85 Foreign loans on gold 38 Foreign securities held by member banks 93, 186 France: Discount rates of Bank of 84 Open-market money rates 85 Franchise tax paid by Federal reserve banks to Government__ 12, 15, 63, 158, 163 Freight-car loadings, index of 215 Fuel, index of wholesale prices 224 Germany: Discount rates of Reichsbank 84 Open-market monej^ rates 85 Gold: Circulat ion 71 Earmarked by Federal reserve banks for foreign account 68 Federal reserve agents' gold fund 60, 155 Foreign loans on, held by Federal reserve banks 38 Held as collateral against Federal reserve notes 42, 44, 46, 64 Held by Federal reserve agents 42, 44, 64 Held by Federal reserve banks 42, 44, 46 Imports and exports— By countries 68 By months 69 Digitized for FRASERD iscussion of 6 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 363 Gold—Continued. Page Reserves of Federal reserve banks 42, 44, 46 Stock, monetary, in United States 5, 31-37, 67 Discussion of 5 Years 1914-1930 67 Gold redemption fund 42, 44, 64 Gold settlement fund 42, 44, 60, 155 Summary of transactions 60, 155 Government bonds. (See United States Government securities.) Government deposits: Held by Federal reserve banks 40, 43-47 Held by member banks 94, 101-123, 171 By weeks 101-107 In New York City 109-115 On call dates____" 94, 171-182 Outside New York City 117-123 Government securities. (See United States Government securities.) Governors of Federal reserve banks: Conferences of 28 Expenses of 162 List of 281-288 Salaries of 289-291 Great Britain. (See England.) Group banking 18 Guardian of estates, list of national banks authorized to act as 313-337 Housefurnishing goods, wholesale prices, index of 224 Imports and exports: Bankers' acceptances based on— Held by Federal reserve banks 49 Outstanding 128 Gold— By countries 68 By months 69 Discussion of 6 Index numbers: Factory employment 220 Factory pay rolls 223 Manufactures 218 Minerals 219 Production, employment, and trade 215 Security prices 214 Industrial production, chart showing 9 Insurance, Federal reserve banks 162, 163 Interlocking bank directorates, amendment to Regulation L 25,269 Investments: All banks in United States 89, 164, 166, 170 By Federal reserve districts 166 By States 170 Member banks 94, 108, 116, 171-182, 192, 199 All banks 94, 171-182, 192 By States 192 Reporting banks 98, 100, 108, 116, 199 By weeks 199 In New York City 108 Outside New York City 116 Investments and loans: All banks in the United States 89, 164-166, 168-170 By Federal reserve districts 164-166 By States 168-170 Member banks— All banks 93, 94, 171-182, 186, 188-192 By States 188-192 Classification, on call dates 93, 186 Discussion of 9 On call dates 171-182 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

364 INDEX Investments and loans—Continued. Member banks—Continued. Reporting banks 98, 100-122, 194-198 By months 98 By weeks 100-106, 195 In New York City 108-114 Outside New York City 116-122 Sta'be bank members 292-309 Iron and steel: Production index 218 Factory employment index 220 Factory pay-roll index 223 Iron-ore shipments 219 Italy: Discount rates of Bank of 84 Open-market money rates 85 Japan: Discount rates of Bank of 84 Open-market money rates 85 Land area of Federal reserve districts 341-346 Lead production, index of 219 Leased-wire system, cost of 276 Leather: Factory employment index 220 Factory pay-roll index 223 Production index 218 Products, wholesale prices, index of 224 Legal fees, Federal reserve banks 162 Liberty loan bonds: Average yield on 80 Held by Federal reserve banks 42, 51 Livestock paper: Discount rates 75 Held by Federal reserve banks 49, 140 Loans: All banks in the United States 89, 165, 169 By Federal reserve districts 165 By States 169 "All other" of reporting member banks 198 Member banks— All banks 94, 171-182, 189, 190 By Federal reserve districts 171-182 By States 189 Classification of . 93, 186 To customers; open market 190, 191 Reporting banks 98, 100, 108, 116, 196, 197, 198 All other loans 198 In New York City 108 On securities 197 Outside New York City 116 Total 196 On securities, made by reporting member banks 197 Open-market, by member banks 191 Secured by stocks and bonds— Made by member banks on call dates 93, 186 Money rates in New York City 82 To brokers-— As reported by New York Stock Exchange 126 By member banks 93, 186 In New York City— By weeks 125 On call dates 127 Outside New York City 127 To customers, by member banks 190 To one borrower— Amendment to Federal reserve act regarding 25, 229 Amendment to Regulation A 23, 232 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 365 Loans and investments: AU banks in the United States 89, 164-166, 168-170 By Federal reserve districts 164-166 By States 168-170 Member banks— Ml banks 93, 94, 171-182, 186, 188-192 By States 188-192 Classification, on call dates 93, 186 Discussion of 9 On call dates 171-182 Reporting banks 98, 100-122, 194-198 By months 98 By weeks __ _ 100-106,195 In New York City 108-114 Outside New York City 116-122 State bank members 292-309 Losses, reserve for, at Federal reserve banks 163 Lumber: Factory employment index 220 Factory pay-roll index 223 Machinery: Factory employment index 220 Factory pay-roll index 223 Managers of branches of Federal reserve banks, list of 281-288 Manufactures, index of production 215, 218 Map outlining Federal reserve districts 349 Maturities, bills discounted and bought by Federal reserve banks 50, 140 McFadden bill, recommendations of advisory council relative to provisions of 227 Member and nonmember bank credit 8, 87 Member banks: Acceptances held 93, 129, 186 Bank suspensions— By Federal reserve districts 205 By months 132 By years 131 Number, classified according to capital stock 133 Bankers balances 94, 124, 171-182, 204 Borrowings at Federal reserve banks— All banks— By Federal reserve districts 185 By months 96, 97 By States 193 Reporting member banks— By Federal reserve districts 203 By months 98 By weeks 101-107 In New York City 109-115 Outside New York City 117-123 Brokers' loans 93, 125, 126, 127, 186 Cancellation of Federal reserve bank stock held by discontinued banks, amendment to Federal reserve act regarding 229 Capital 91, 92, 94, 171-182 Changes in membership 16, 134 Condition of. (See Condition of banks.) Deposits— Government 94, 101-123, 171-182 Net demand 200 Net demand and time 183 Time and demand— All banks 94,96, 171-182, 183 Reporting banks 98, 101-123, 200, 201 Deposits subject to reserve, reserve required, reserves held, and borrowings at Federal reserve banks 96 Dividends declared 136, 207-209 Dividends paid to, by Federal reserve banks 12, 15, 63, 158, 163 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

366 INDEX Member banks—Continued. Earnings, expenses, and dividends 135, 136, 207-209 Nati onal banks 208 State banks 209 Examination of, amendment to Federal reserve act regarding 26, 230 Failures 17, 131, 132, 133, 205, 206 Investments— All banks 94, 171-182, 192 Reporting banks 100, 108, 116, 199 List of, with loans, investments, deposits, capital, and surplus 292-309 Loans— All banks 94, 171-182, 189, 190 Classification of 93, 186 Reporting banks 100, 108, 116, 196, 197, 198 All other loans 198 On securities 197 Total 196 Loans and investments— All banks 93, 94, 171-182, 186, 188-192 By States 188-192 Classification, on call dates 93, 186 Discussion of 9 On call dates 171-182 Reporting banks 98, 100-122, 194-198 By months 98 By weeks 100-106, 195 In New York City 108-114 Outside New York City 116-122 Loans, investments, deposits, reserves, and borrowings at Federal reserve} banks > 98 Loans on securities 197 Loans to brokers 93, 125, 126, 127, 186 Loans to customers and open-market loans 191 Mergers 22 National banks— Additions and withdrawals from system 16, 134 Condition of 91 Earnings, expenses, and dividends 135, 136, 208 Examiners, number and salaries 278-280 Mergers 22 Number 17, 134 Suspensions 131, 132, 133, 205 Trust powers— Amendment to Federal reserve act 26, 230 Amendment to Regulation F 24, 245 List of banks authorized to exercise 313-337 Number of permits issued 23 Number of 94, 171-182 Number of, discounting paper at Federal reserve banks 48, 185, 194 Number of, on par list 23, 61, 156, 157 Reserve balances 31-37, 40-47, 94, 97, 99, 101-123, 141-152, 184, 202 All banks 94, 97, 184 By months 97, 184 On call dates 94 Reporting banks 99, 101-123, 202 By Federal reserve districts 202 By months 99 By weeks 101-107, 202 In New York City 109-115 Outside New York City 117-123 State banks— Capital 103,292 Changes in membership 16, 134 Classification according to capital stock 310-312 Condition of 91 Earnings, expenses, and dividends 135, 136, 209 Examination of, recommendations of Federal advisory council relative to bill H. R. 7966 227 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 367 Member banks—-Continued. State banks—Continued. Pae« Lkt of, with loans, investments, deposits, capital, and surplus. _ 292-309 Mergers 22 Number of 17, 134, 292 Suspensions 131, 132, 133, 205 Withdrawals from system 16, 134 Amendment to Regulation H 24, 252 Amendment to Federal reserve act 26, 229 Waiver of notice required, amendment to Federal reserve act regarding 26, 229 Membership in Federal reserve system: Changes in— By years 134 By class of member 134 Discussion of 16 State banks and trust companies, list of 292-309 Withdrawals, waiver of notice, amendment to Federal reserve act regarding 26,229 Membership in par collection system 61, 156, 157 Mergers, bank 21, 134 Metals, wholesale price index of 224 Meyer, Eugene, appointed governor of Federal Reserve Board 28 Mineral production, index of 219 Monetary gold stock of United States 31-37, 67 Discussion of • ; 5 Years 1914-1930 67 Money in circulation .. 7, 8, 31-37, 70, 71 By kinds 71 By months 70 Chart showing 8 Discussion of 7 Money rates: In foreign countries 84, 85 In New York City 4,82 In principal cities 83 Municipal warrants purchased by Federal reserve banks 42 National bank notes: Circulation 71 Held by Federal reserve banks 42 National banks: Additions and withdrawals from system 16, 134 Condition of 91 Earnings, expenses, and dividends 135, 136, 208 Examiners, number and salaries 278-280 Mergers 22 Number 17, 134 Suspensions— By Federal reserve districts 205 By months 132 By years 131 Number, classified according to capital stock 133 Trust powers— Amendment to Federal reserve act 26, 230 Amendment to Regulation F 24, 245 List of banks authorized to exercise 313-337 Number of permits issued 23 Surrender of, amendment to Federal reserve act regarding 24, 230 Netherlands: Discount rates of Bank of 84 Open-market money rates 85 New York Stock Exchange, brokers' borrowings as reported by 126 Nonferrous metals: Production index 218 Factory employment index 220 Factory pay-roll index 223 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

368 INDEX Nonmember banks: Bank suspensions— Page By Federal reserve districts 205 By months 132 By years 131 Number, classified according to capital stock 133 Deposits, exclusive of interbank deposits 90, 167 Loans and investments 89, 164-166 Mergers 22 Number on par list 23, 61, 156, 157 Suspensions- 17, 131, 132. 133, 205 Number of member banks discounting paper at Federal reserve banks: By Federal reserve districts 185 By States 194 Officers and directors of Federal reserve bank, list of 281-288 Officers and employees: Federal reserve banks, number and salaries 13, 289-291 Federal Reserve Board, salaries 273-275 One borrower, limitations on discount of paper of: Amendment to Federal reserve act 25, 229 Amendment to Regulation A 23, 232 One hundred per cent of capital and surplus, list of banks authorized to accept bills up to 338-340 Open-market loans by member banks 191 Open-market operations of Federal reserve banks. (See Discount and open-market operations.) Open-market rates. (See Discount and open-market rates.) Paper and printing: Production index 218 Factory employment index 220 Factory pay-roll index 223 Par collections. (See Check clearing and collections.) Par list, number of banks on 22, 61, 156, 157 Pay rolls, factory, index of 7, 215, 223 Penalties for deficient reserves imposed by Federal reserve banks 63, 162 Petroleum refining: Production index 218 Factory employment index 220 Factory pay-roll index 223 Platt, Edmund, vice governor of Federal Reserve Board, resignation of 28 Population of Federal reserve districts 341-346 Postage, Federal reserve banks, cost of 162 Premises, Federal reserve banks 15, 43, 44-47, 62, 163 Book value 62 Cost of 62 Date occupied 62 Depreciation charges 163 Prices: Security 214 Wholesale commodity, index of 224 Printing and stationery, Federal reserve banks, cost of 162 Production, index of 215-217 Profit and loss account of Federal reserve banks 63, 158, 163 Public-utility stocks, prices of, index of 214 Railroad car loadings, index of 215 Railroad stocks, prices of, index of 214 Rates, discount and open-market. (See Discount rates.) Real estate, loans secured by, made by member banks 93, 186 Receipts ami disbursements of the Federal Reserve Board 276, 277 Receiver, list of national banks authorized to act as 313-337 Recommendations of Federal advisory council. (See Federal advisory council.) Registrar of stocks and bonds, list of national banks authorized to act as_ 313 Regulations of the Federal Reserve Board: Regulation A—Discounts under sections 13 and 13a 23, 232 Regulation B—Open-market purchases of bills of exchange, trade acceptances, and bankers' acceptances under section 14 237 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 369 Regulations of the Federal Reserve Board—Continued. Page Regulation C—Acceptance by member banks of drafts and bills of exchange 238 Regulation D—Reserves of member banks 24, 239 Regulation E—Purchase of warrants 243 Regulation F—Trust powers of national banks 24, 245 Regulation G—Rediscount of notes secured by adjusted-service certificates !___'_ 250 Regulation H—Membership of State banks and trust companies 24, 252 Regulation I—Increase or decrease of capital stock of Federal reserve banks and cancellation of old and issue of new stock certificates- _ 24, 257 Regulation J—Check clearing and collection 25, 260 Regulation K—Banking corporations authorized to do foreign banking business under terms of section 25a of Federal reserve act 25, 263 Regulation L—Interlocking bank directorates under the Clavton Act 25,269 Rent paid by Federal reserve banks 162 Reporting member banks. (See Member banks.) Reserve balances of member banks 31-37, 40-47, 94, 97, 99, 101-123, 141-152, 184, 202 All banks 1 94, 97, 184 By months 97, 184 On call dates 94 Reporting banks 99, 101-123, 202 By Federal reserve districts 202 By months 99 By weeks 101-107 In New York City 109-115 Outside New York City 117-123 Reserve bank float 38, 44 Reserve city member banks: Condition of 92 Deposits, reserves required, reserves held, and borrowings at Federal reserve banks 96 Loans and investments, classification of, on call dates 93 Reserve percentages of Federal reserve banks 40 Reserves: Deficiencies in-^— Amendment to Regulation D 24, 239 Penalties 63, 162 Excess, of member banks 96 Federal reserve banks 40, 41, 42, 44, 46, 141-152 Cash, each bank 141-152 Gold 42-47 Member banks 40, 41, 43, 44, 91, 92, 94, 96, 97, 99, 101, 109, 117, 171, 184, 202 All banks 91, 92, 94, 96, 97, 171, 184 Reporting banks 99, 101, 109, 117, 202 Resources and liabilities: Federal reserve banks-— At end of each month 44 Combined statement 41 Each bank 46, 141-152 Weekly statement and balance sheet items 42 Member banks— By Federal reserve districts 171-182 Country banks 92 National and State banks 91 On call dates___. 94 Reserve city and country banks 92 Reporting banks— By weeks 100-107 In New York City 108-115 Outside New York City 116-123 National banks 91 Reserve city bank members 92 State bank members 91 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

370 INDEX Rubber products: Production index 218 Factory employment index 220 Factory pay-roll index 223 Salaries: Federal reserve bank examiners 274 Federal reserve banks 13, 162, 289-291 Federal Reserve Board 273-275 National bank examiners . 278-280 Securities: Held by Federal reserve banks 31-38 Held by member banks 93, 186 Loans on, by member banks 93, 186, 197 United States Government— Average yield on 80, 81 Bills discounted, secured by, held by Federal reserve banks- 2, 42, 49, 140 Bonds bought by Federal reserve banks 42, 51 Certificates of indebtedness— Held by Federal reserve banks 42, 51, 52, 54, 58 Temporary 1-day certificates 52, 54, 58 Yield on 80, 81 Earnings and rates of earnings on purchases by Federal reserve banks 13,63,79, 162 Held by Federal reserve banks 31-39, 41-47, 51, 52, 54, 141-152 By classes 51 Bought outright 41, 42, 51, 141-152 Bought under resale agreement 41, 42, 51, 141-152 In system investment account 52, 54 Temporary 1-day certificates 52, 54, 58 Held by member banks 93, 94, 171-182, 186 Issues, redemptions, and exchanges handled by fiscal agency departments 14, 59, 153, 154 Liberty bonds— Held by Federal reserve banks 42, 51 Yield on 80 Paper secured by, held by Federal reserve banks 2, 42, 49, 140 Rates of earnings on purchases by Federal reserve banks 13, 79 Treasury bills held by Federal reserve banks 42, 51 Treasury bonds— Held by Federal reserve banks 42, 51 Yield on 80,81 Treasury notes— Held by Federal reserve banks 42, 51 Yield on 80, 81 Volume handled by Federal reserve banks 14, 59, 153, 154 Security prices 214 Silver: Circulation 71 Held b}r Federal reserve banks 42 Production index 219 State bank members: Capital 103,292 Changes in membership 16, 134 Classification according to capital stock 310-312 Condition of 91 Earnings, expenses, and dividends 135, 136, 209 Examination of, recommendations of Federal advisory council relative to bill H. R. 7966 227 List of, with loans, investments, deposits, capital, and surplus 292-309 Merger*? 22 Numberof 17, 134, 292 Suspensions— By Federal reserve districts 205 By months - 132 By years 131 Number, classified according to capital stock 133 Stock, Federal reserve bank, held by member banks, amendment to Regulation I 24, 257 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDEX 371 Stocks and bonds, loans secured by: Made by member banks— Pase In New York City 125, 127 Outside New York City 127 On call dates 93, 186 Money rates in New York City 82 Stocks, common and preferred, prices of, index of 214 Street loans made by member banks 93, 186 Surplus: Federal reserve banks 12, 15, 43-47, 63, 158, 163 Member banks 91, 92, 94, 171 State bank members 292-309 Suspensions, bank: By Federal reserve districts 205 By months 132 By size of city or town 133 By States 206 By years 131 Discussion of 17 Number, classified according to capital stock 133 Sweden, Bank of, discount rates 84 Switzerland: Discount rates of Bank of 84 Open-market money rates 85 Tax, franchise, paid by Federal reserve banks to Government 15, 63, 158, 163 Tax on premises, Federal reserve banks 162 Telegraph, leased-wire system, cost of 276 Telephone and telegraph expenses: Federal reserve banks 162 Federal Reserve Board 276 Textiles: Factory employment index 220 Factory pay-roll index 223 Prices, wholesale 224 Production index . 218 Time and demand deposits. (See Deposits.) Tobacco manufactures: Factory employment index 220 Factory pay-roll index 223 Production index 218 Trade acceptances held by Federal reserve banks 49, 140 Trade, wholesale, index of 215 Traveling expenses, Federal reserve banks 162 Treasury bills held by Federal reserve banks 42, 51 Treasury bonds: Held by Federal reserve banks 42, 51 Yield on 80, 81 Treasury certificates of indebtedness: Held by Federal reserve banks 42, 51, 52, 54, 58 Temporary 1-day certificates 52, 54, 58 Yield on 80, 81 Treasury notes: Circulation 71 Held by Federal reserve banks 42, 51 Yield on 80, 81 Trust companies. (See State banks.) Trust powers of national banks: Amendment to Regulation F 24, 245 Amendment to Federal reserve act 26, 230 List of banks authorized to exercise 313-337 Number of permits issued 23 Recommendations of Federal advisory council relative to granting permits, proposed in bill H. R. 7966 227 Surrender of, amendment to Federal reserve act regarding 230 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

372 INDEX United States Government deposits: Held by Federal reserve banks 40, 43-47 Held by member banks— By weeks 101-107 In New York City 109-115 On call dates 94, 171-182 Outside New York City 117-123 United States Government securities: Average yield on 80, 81 Bills discounted secured by, held by Federal reserve banks 2, 42, 49, 140 Bonds bought by Federal reserve banks 42, 51 Certificates of indebtedness— Hold by Federal reserve banks 42. 51, 52, 54, 58 Temporary 1-day certificates 52, 54, 58 Yield on 1 80, 81 Earnings and rates of earnings on purchases by Federal reserve banks 13, 63, 79, 162 Held by Federal reserve banks 2, 31-39, 41-47, 51, 52, 54, 141-152 By classes 51 Bought outright 41,42, 51, 141-152 Bought under resale agreement 41, 42, 51, 141-152 In system investment account 52, 54 Temporaiy 1-day certificates 52, 54, 58 Held by member banks 93, 94, 171-182, 186 Issues, redemptions, and exchanges handled by fiscal agency department of banks 1 ____" 14, 59. 153, 154 Liberty bonds— Held by Federal reserve banks 42, 51 Yield on 80 Paper secured by, held by Federal reserve banks 2, 42. 49, 140 Rates of earnings on purchases by Federal reserve banks 13, 79 Treasuiy bills held by Federal reserve banks 42, 51 Treasury bonds— Held by Federal reserve banks 42, 51 Yield on 80, 81 Treasury notes— Held by Federal reserve banks 42, 51 Yield on 80,81 Volume handled by Federal reserve banks 14, 59, 153, 154 United States notes in circulation 71 Volume of operations of Federal reserve banks 14, 59, 153 All banks 14, 59 Each batik 153 Branche s 15, 154 Warehouse receipts: Bankers acceptances based on, outstanding 128 Loans secured by, money rates in New York City 82 Warrants, municipal, held by Federal reserve banks 42 Wholesale commodity prices, index of 224 Wholesale trade, index of 215 Withdrawals from Federal reserve system: Amendment to Federal reserve act regarding 26, 229 Amendment to Regulation H 24 252 5 Young, Roy A., governor of Federal Reserve Board, resignation of 28 Zinc, index of production 219 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis