Federal Reserve Bulletin, 1929-01

FEDERAL RESERVE BULLETIN VOL. 15 . JANUARY, 1929 No. 1 REVIEW OF THE MONTH In the last part of 1927 manufacturing activity showed a pronounced recession, as is There was some recession in industrial ac- , . . . indicated by the accompanying T tivity during the last two months of 1928, but Industrial . ( F J & for the year as a whole the production chart, which shows the board s Business in volume of industrial produc- index of industrial production 1928 tion was larger than in anyfor the years 1924-1928. After the turn of the previous year. Distribution of commodities year industry became more active, and in the to consumers kept pace with production, and second half of 1928 production increased there was no evidence of a general accumula- INDUSTRIAL PRODUCTION tion of stocks at distributing points or of inventories at factories or commercial establishments. Factory employment and pay rolls, 120 120 which had declined in 1927, showed a slow improvement in the early part of 1928 and rose rapidly in the second half of the year. Agri- 100 100 cultural production was also larger in 1928 than in the preceding year, but the crops were marketed at somewhat lower prices, and total 80 80 returns from agriculture are expected to be approximately the same as last year. 60 60 In the money market the year was charac- 1924- 1925 1926 1927 1928 terized by steadily rising interest rates, par- Federal Reserve Board's index of industrial production, adjusted for seasonal variations. 1923-1925 = 100. ticularly for loans on securities. Credit extended by member banks expanded rapidly rapidly, reaching new high levels in October. during the year, reflecting both increased busi- In the last two months of the year a sharp ness activity and growth in the demand for decline in the output of motor cars and a credit to finance trading in securities. Gold decrease in steel production were reflected in a exports, which had begun in the autumn of reduction of industrial activity. Nevertheless, 1927, continued during the first half of 1928, at the end of the year the volume of production and the monetary stock of gold declined by was larger than at the same season of any $240,000,000 during the year. The effect on previous year. the demand for reserve bank credit of gold The advance for the year in the volume of withdrawals, though it was offset in part by production was not uniformly distributed a reduction in the demand for money in circu- among the various industries. It was lation, carried the volume of reserve bank especially marked in automobiles and related credit outstanding in December to a higher products, in iron and steel, and in copper, level than at any other time in the past seven while cotton textiles and bituminous coal years. were less active than in earlier years, although Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEIfcSRAL RESERVE BULLETIN JANUARY, 1929 both recovered somewhat in the fourth quarter. Demand for copper increased considerably The output of minerals was at a relatively low in 1928 in response to increased activity in level in the first half of thf year, but increased the automobile and electrical industries, and rapidly after midsummer. In the aggregate production by both mines and smelters was the output of manufactures for 1928, estimated the largest on record. In the last quarter on the basis of incomplete data, was approxi- of the year stocks were unusually low, and mately 5 per cent larger than in 1927, andprices were the highest since 1923. Tin mineral production was 'in about the same receipts were large, and zinc production was volume as in the preceding year. greater than in 1927, while the output of lead An important factor in the larger industrial was smaller. Iron-ore shipments were also in output in 1928 was the growth in the output large volume, reflecting steel mill activity. of automobiles, which was re-Coal production, which was curtailed during Developments ^ hases most of the year, increased considerably in the flected enl d purc in individual in- . * • i * • T autumn. Output was smaller throughout most dustries °* many kinds of materials. of 1928, in contrast to the comparatively large While in 1927 fewer automoshipments in the latter part of 1926 and the biles were produced in this country than in any early months of 1927, which were due to large other year since 1922, preliminary reports exports at the time of the British coal stoppage indicate that in 1928 the number produced and to heavy output prior to the strike in the will equal or exceed the output of 1926, the domestic bituminous fields. previous year of maximum output. Activ- Textile industries were in general somewhat ity in the industry, as indicated both by less active in 1928 than in 1927, when cotton output of cars and by employment in facconsumption exceeded previous records and tories, increased almost steadily from the wool consumption was the largest since 1923. beginning of the year until September, when The cotton industry showed a substantial stocks of new cars in the hands of dealers decline in activity during the first half of the became unusually large. In October and year, but later there was a considerable in- November there was a curtailment of operacrease in buying, and production schedules tions, somewhat larger than can be explained were enlarged. Silk and rayon industries by seasonal influences. For December reports continued the rapid growth of recent years. indicate some increase in output. Output of leather and shoes was in approxi- Other related industries benefited by the mately the same volume as in 1927, the year large production and distribution of autoof largest production since 1923. mobiles. Although production of gasoline Output of food products as a group continued again exceeded all previous records, stocks about the same as in 1926 and 1927. The were reduced owing to increased consumption. slaughter of hogs and sheep increased con- Output of automobile tires and inner tubes siderably, while that of cattle and calv s was also considerably larger than in previous declined. Production of flour was somewhat years. larger than in 1927; sugar refining, on the Production of steel in 1928 exceeded that other hand, was in smaller volume. of previous years, also reflecting in part the Contracts issued for new building in the activity of the automobile industry. Addi- United States as a whole during 1928 are estitional factors were continued large requiremated at about $7,000,000,000 ments for use in new construction and in Building in value, on the basis of figures the agricultural equipment and machine tool provided by the F. W. Dodge Corporation. industries, in which production in 1928 also This total exceeded that of 1927 by approxiexceeded that of recent years. Demand for mately $300,000,000 and that of 1926, the railroad equipment, especially rails, cars, and previous maximum, by about $200,000,000. locomotives, was somewhat smaller than the Awards were especially large during the first year before. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN half of the year. For the year as a whole there advanced, so that in December prices were were substantial increases in contracts for resi- approximately equal to those in the same dential building and for public works and pub- month of last year. The current crop was lic utilities, the most important types of con- 1,418,000 bales larger than that of last year, struction, but the largest percentage increase but the world carry-over was about 2,700,000 was in industrial building. Contracts for com- bales smaller than in 1927, indicating a net mercial buildings declined. Geographically, reduction in the world supply of American the largest increases in value of contracts oc- cotton of about 1,300,000 bales. In recent curred in the Central West and in the New months both domestic consumption and ex- York district, with the greatest proportional ports of cotton have been in larger volume growth in New England. Production of most than last year. building materials showed some increase in The production of dairy products was ap- 1928 over 1927. The increase was especially proximately equal to that in 1927, with slightly large in the case of cement, while lumber out- higher prices prevailing. Acreage of the prinput declined and was in smaller volume than cipal truck crops increased about 10 per cent, for any other recent year. and their estimated value was 3 per cent In agriculture the past year has been charac- higher. Contrasted with 1927, a year of terized by larger production as compared with reduced production, the yield of leading fruit 1927, increases being shown crops showed a material increase, but their Agriculture both for crop yields and for total value was not greatly different from last marketing of meat animals. The harvested year. area of crops was larger than in any other recent Distribution of commodities was in large year, exceeding that of 1927 by slightly more volume throughout the year, and inventories than 1 per cent. Yields per acre were also at the end of the year showed Trade larger, and the combined production of leading no general increase. Sales of crops showed an increase of 3 per cent over department stores throughout the country 1927. Number of cattle marketed decreased, averaged somewhat larger in the first 11 but sales of hogs and sheep were much larger, months of 1928 than in 1927, and early reports so that total receipts by meat-packing com- indicate that Christmas trade in 1928 companies of all groups of livestock showed an pared favorably with that of a year earlier. increase of 7 per cent as compared with last Stocks of goods held by department stores year. were generally smaller in 1928 than in 1927. Total farm income from 1928 operations is Wholesale distribution was in about the not expected to differ greatly from that of the same volume in 1928 as in the preceding year, preceding year, according to the Department of according to reports from representative firms Agriculture's estimates, but will be character- in nine lines. Sales of groceries and meats ized by a more even distribution between were somewhat larger during the past year different parts of the country. Smaller cash than in 1927, reflecting in part the influence of returns than in 1927 from hay, grain, tobacco, higher prices for food products during most of and potatoes have been offset by increases in the year. Sales of drugs also increased, and a the value of livestock and dairy products. considerably larger volume of agricultural im- A cotton crop of 14,373,000 bales for 1928 plements and of machine tools was sold in 1928 is estimated by the Department of Agricul- than in any other recent year. The largest ture. Although cotton prices in September decreases were in sales of dry goods, clothing, were substantially lower than those prevailing and shoes, but there were also declines in furin the same period in 1927, they have since niture and hardware. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BULLETIN JANUARY, 1929 Shipments of commodities by rail in 1928,which rose rapidly in the last half of 1927 and as indicated by freight-car loadings, were in were the principal factors in the rise in the about the same volume as in 1927 and slightly general index at that time. Farm products and below 1926. Shipments of coal, coke, live- foods continued in general to advance through stock, and forest products, and of merchandise September, 1928, reflecting increases chiefly in in less than carload lots were smaller during livestock, meats, and dairy products, but since the past year than in either of the two preced- that time have declined considerably. Prices ing years. The reduction in shipments in less of leather and its products have decreased than carload lots probably reflects in part the steadily since last April. In the nonagriculgrowing use of automobile trucks. Car load- tural group, prices of certain industrial prodings of miscellaneous commodities were larger ucts, notably iron, steel, copper, and building than in any previous year, reflecting the high materials, which in general declined during level of manufacturing activity. Shipments of 1927, were relatively steady during the early grain and grain products and of ore were also part of 1928 and in recent months have adlarger than in 1927, but smaller than in 1926. vanced somewhat. The price of petroleum, During most of the year wholesale commod- which declined sharply in 1926 and 1927, rose ity prices continued the advance which began steadily during 1928. Prices of textile prodin the summer of 1927, and in ucts showed little change during the year. prices*1 modity September the Bureau of Labor In most foreign countries, as in the United Statistics index, shown on the States, wholesale prices advanced during the accompanying chart, reached 100 per cent of latter part of 1927 and the early months of 1928, but since last spring the movement of PER CENT PER CENT prices abroad has been downward. The recent 1201 1120 WHOLESALE PRICES I ( 1926=100 ) declines have been due chiefly to decreases in agricultural commodities, while industrial com- - FFarm Products modities on the whole have been comparatively 110 V 110 firm. In England prices of both industrial All Comm. products and foods have declined since mid- •V\ summer, but by far the largest declines have 100 100 been in foods. In Austria, Germany, France, Nonagriculfural Commodities and Italy prices of industrial products advanced or showed little change in 1928, while 90 90 food prices declined considerably in the latter 1924- 1925 1926 1927 1928 part of the year. the 1926 average for the first time since June, Active plant operations and firm or ad- 1926, representing a rise of over 6 per cent vancing prices of certain industrial commodifrom the low point of May, 1927. In October, ties resulted in 1928 in increased Industrial industrial corpora- November, and December, however, the gen- fltg f profits f. *• eral average declined considerably, reaching tions. Compilations by the the lowest level since last spring. For the year Standard Statistics Co. of earnings reports as a whole prices averaged higher than in the show that net profits of 492 industrial, railroad, preceding year, but continued below the levels and public utility corporations in the first of 1926 and 1925. nine months of 1928 were 11 per cent larger The widest price fluctuations during the past than in the s&me period of 1927. The largest 18 months have occurred in farm products, gain was among industrial companies, which foods, and hide and leather products, all of reported a 20 per cent increase, while the earn- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BULLETIN JANUARY, 1929 ings of public utility corporations increased 13 tion in the early weeks of the year. In the per cent, and those of railroad companies in- first six months this increase was due chiefly creased 1 per cent during the period. The to exports of gold, principally to France, which largest gains in profits among the industrial was building up its reserves prior to stabilizagroups were reported by corporations pro- tion of its currency. In the latter part of the ducing apparel, copper and brass, automobile year the growth in reserve bank credit was due parts and accessories, leather and shoes, and in part to increased reserve requirements of oil. Next in order were mining and smelting, member banks, reflecting a growth in their theaters and motion pictures, automobiles and demand deposits, but principally to an increase trucks, and machinery and machine equipment. in the demand for currency which in the late Decreases were reported by corporations pro- autumn of 1928 was larger for the season than ducing railroad equipment, coal and coke, in the two preceding years. A chart showing building and real estate, and lead and zinc. The MILLIONS OF DOLLARS MILLIONS OF DOLLARS gain over 1927 was at an increasing rate dur- 5300 "15300 MONEY IN CIRCULATION ing the year, the increase in earnings of 195 ( Weekly averages of daily figures ) industrial corporations during the third quarter 5200 5200 of the year being 38 per cent above the corresponding period in 1927, in contrast to an increase of 2.5 per cent by these same companies 5100 5100 in the first quarter of the year. Bank credit, which had increased rapidly in 5000,8 5000 1927, continued to grow and at a more rapid rate during the first four months Bank credit of ig2g After that time the 4.900 A 4900 and money rates aggregate showed relatively little growth and fluctuated in volume chiefly in •— •-— -,4800 response to seasonal influences. The increase during the first part of the year consisted chiefly of a growth in loans on securities, but \klOO the volume of commercial loans and investments also increased. The growth of commeri4600 cial loans, reflecting a larger volume of indus- JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. trial activity at higher commodity prices, con- Averages for calendar week 7 days ending Saturday tinued throughout the year, but investments of money in circulation on the basis of weekly member banks declined during the latter half averages of daily figures for 1926, 1927, and of the year, while security loans showed wide 1928 is here presented. It shows that during fluctuations. The most active demand for the industrial recession at the close of 1927 credit in 1928, as in other recent years, arose money in circulation began to decline rapidly from the large volume of dealings in securities. and in the spring of 1928 was about $150,- This demand was reflected both in increased 000,000 smaller than in the corresponding bank loans on securities and in a rapid growth periods of the two preceding years. In the of loans made through the banks by corpora- second half of the year, however, increased intions and individuals. At the end of the year dustrial and trade activity resulted in a rapid more than half of the total borrowings of bro- growth in the demand for currency, and in kers on the New York Stock Exchange con- December the average decrease from the year sisted of loans from nonbanking sources. before had been reduced to about $40,000,000. Reserve bank credit outstanding increased During the period of heavy gold exports continuously in 1928 after the seasonal liquida- from January to June there was a further in- 26516—29 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6 FEDERAL RESERVE BULLETIN JANUARY, 1929 crease in the demand for reserve-bank funds exports and an unusual rate of growth in credit, due to the sale of United States securities by the general level of money rates was higher the reserve banks. These sales were made in than at any other time in the past seven years. pursuance of a policy of tightening money conditions in view of the rapid growth of credit INCREASE IN BILL RATES arising only in small part from the financial On January 4,1929, the buying rates on prime needs of trade and industry. Security sales, bankers' acceptances at the Federal Reserve which reduced the system's holdings in the Bank of New York were advanced as follows: summer to the lowest level since early in 1924, On maturities of 31 to 90 days, from 4% per resulted in a rapid growth of direct borrowing cent to 4% per cent; on maturities of 91 to 120 by member banks. Discounts for member days, from 4% per cent to 4% per cent. Buying rates on maturities of 1 to 30 days remained banks in July reached a total of $1,200,000,000, at 4/2 per cent and those on maturities of 121 the largest figure in nearly seven years. to 180 days remained unchanged at 5 per cent. This heavy indebtedness of member banks was an important factor in the rapid rise of CONDITION OF ALL BANKS IN THE UNITED open-market money rates, which character- STATES ON OCTOBER 3, 1928 ized the year, and discount rates at the reserve Bank loans and investments in the United banks, which had been reduced to a uniform States aggregated about $57,190,000,000 on level of 3}4 per cent at all the banks in 1927, October 3, 1928, as is shown by figures for all were gradually advanced to 5 per cent at eight banks in the country recently made available of the banks and to 4^ Per cent at the four and given in detail, by districts and by States, on pages 55-58 of this BULLETIN. The decline banks in the western agricultural districts. since the middle of the year, about $55,000,000, In the second half of the year security hold- reflects a decrease in investments of about ings of the reserve banks remained at a con- $250,000,000 and an increase in loans of about $195,000,000. These figures, compiled by the stant level, and the autumn demand for re- Federal Reserve Board, reflect the condition of serve-bank credit was met entirely by pur- 25,784 member and nonmember banks—includchases of acceptances. Total volume of ac- ing national banks, State commercial banks, ceptance financing in this country was larger trust companies, mutual and stock savings banks, during the autumn than at any previous time, and private banks under State supervision. and the bills carried relatively low rates which made them unattractive to investors. In REVISION OF MEMBER BANK REPORTING these circumstances a larger volume of bills SERVICE was sold to the reserve banks. The bill port- A revision has recently been made in the folio of these banks consequently increased, schedules used by all member banks for reporting their condition on call dates and by member and the funds thus released not only met the banks in leading cities for reporting their conadditional demand for reserve-bank credit, but dition weekly. The principal changes affectalso enabled the member banks to reduce their ing the figures of loans and investments relate indebtedness at the reserve banks in the au- to the handling of (1) " acceptances of other tumn. Bill holdings remained constant in De- banks and bills of exchange or drafts sold with indorsement of this bank" and (2) "real estate cember, and member banks met the holiday and loans, mortgages, deeds of trust, and other liens year-end demand for reserve bank credit through on real estate." additional borrowings at the reserve banks. Bills sold by a member bank with indorse- Advances in money rates during the year ment have generally been reported in the past were largest in loans on securities, consider- as part of their loans ("all other" loans), both on the quarterly call report and on the weekly ably smaller in other open-market rates and report. On the call report, however, they have still smaller in rates charged by banks to their been shown separately since May, 1917, but on commercial customers. At the close of the year, the weekly report they were not shown sephowever, which witnessed a large volume of gold arately until the middle of December, 1928. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN Y They will hereafter be consistently excluded reporting member banks has brought out the from loans, principally on the ground that fact that about 75 per cent of their total loans most of the bills sold with indorsement re- on real estate, as inclusively defined, were ported by one bank are included in the loans being reported, on the weekly schedule, in reported by other banks. Thus the new pro- "all other" loans. A small number of banks cedure eliminates duplication. The amount that were found to be following the practice of bills sold by member banks with indorse- of reporting a part or all their "mortgages7' ment on recent call dates was as follows: under "investments" instead of "loans" were 1927—June 30, $211,000,000; October 10, requested to report separately the amount of $265,000,000; December 31, $432,000,000; this item in weekly reports submitted during: 1928—February 28, $455,000,000; June 30, 1928. These figures have been used in pre- $436,000,000: October 3, $434,000,000. For paring the revised figures that appear on pages all member banks back figures of "all other" 59-91. The amount of "mortgages" thus loans, total loans, and total loans and invest- transferred from the one category to the other, ments, exclusive of bills sold with indorsement, for the entire group of weekly reporting memhave been published in the Annual Report of ber banks, did not change much during the the Federal Reserve Board for 1927 (Tables year; it was at its lowest point, about $450,- 33, 35, 39, 77-78, 81-82, 84-86, 91, 92) and in 000,000, in April, and at its highest point, the FEDERAL RESERVE BULLETIN (October, about $470,000,000, in December. The range 1928, pp. 730-732; December, 1928, pp. 882, of variation in individual Federal reserve dis- 887; January, 1929, pp. 55-58). The same re- tricts was less than $5,000,000, except in the vision, together with certain other revisions, New York district, where it was about has been applied to the figures for reporting $15,000,000. member banks in leading cities that are pub- It will be noted that both of the revisions lished on pages 59-91 of this BULLETIN. described affect the figures for "all other" Loans secured by real estate have been loans and for total loans—one revision by way reported separately by all member banks dur- of subtraction and the other by way of addition. ing recent years as part of the information Another revision in back figures, occasioned requested by the June call, but in reporting at the end of 1928 by the withdrawal from the this item on this call some of the member Federal reserve system (through merger with a banks, partly by reason of the conflict or ap- nonmember bank) of a large weekly reporting parent conflict between the instructions given member bank in Los Angeles, has been made to State banks by the Federal Reserve Board at the same time. This bank had about and by the State banking commissioners of $130,000,000 of loans and investments. certain States, have included their " mort- The weekly condition statement of reporting gages," or a part of them, in their investments member banks in leading cities that was issued instead of in their loans. The extent of this for January 9, contained a brief explanation of practice so far as call dates are concerned is the three revisions here discussed as applying not believed to have been considerable, partly especially to the figures then published for because there are but few States in which the that date, for the preceding week, and foi the item in question has been treated as a part of corresponding week of the preceding year. investments in reports made to the State bank- Comparable figures for the whole of 1927 and ing commissioner. Beginning with the call for 1928 are given in Tables 1-4 on pages 59-91 October 3, 1928, however, separate figures for of this issue of the BULLETIN.1 Comparable loans secured by real estate have been required revised figures for one or more earlier years from member banks on every call and new are in process of preparation and will be instructions have been issued by the board and published later. by the Comptroller of the Currency in such Since January 9, 1929, the weekly condition form as to require beyond all doubt that all statement has shown in one total—"loans on " mortgages" be included in this item. Corre- securities"—the figures heretofore shown sepasponding instructions have also been recently rately for "loans secured by United States issued to all weekly reporting member banks Government obligations" and "loans secured to the effect that hereafter all mortgages hy (other) stocks and bonds," and has also should be included in "all other" loans and shown in one total—"borrowings at Federal consequently in total loans, and excluded from investments. A special investigation made 1 One or more of the three revisions affects to some extent every Federal reserve district except one—the Kansas City district; the figures toward the end of 1927 covering all weekly published for this district, therefore, are the same as those published currently during 1927 and 1928. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8 FEDERAL RESERVE BULLETIN JANUARY, 1929 reserve bank"—the figures heretofore shown Cleveland—R. P. Wright, Erie, Pa. (reelected). separately under the captions "Secured hy Richmond—Edwin C. Graham, Washington, D. C. (reelected). United States Government obligations" and Atlanta—Luke Lea, Nashville, Tenn. (reelected). "All other." Both of these combinations have Chicago—S. T. Crapo, Detroit, Mich, (reelected). been made primarily in the interests of simpli- St. Louis—W. B. Plunkett, Little Rock, Ark. (reelected). fication. Minneapolis—Paul M. Myers, St. Paul, Minn, (reelected) . Kansas City—J. M. Bernardin, Kansas City, Mo. FOREIGN EXCHANGE RATES, 1922-1928 (reelected). Dallas—A. S. Cleveland, Houston, Tex. ^Retrospective tables of yearly and monthly San Francisco—E. H. Cox, Madera, Calif, (reelected). averages of foreign exchange rates as published in the FEDERAL RESERVE BULLETIN, January APPOINTMENT OF CLASS C DIRECTORS 1927 ; pages 56-62, are brought down to the The following Class C directors have been close of 1928 in the present issue of the BUL- reappointed for the 3-year term beginning Jan- LETIN. A table giving annual averages for the uary 1, 1929: period 1922-1928 will be found on page 35, Boston—Charles H. Manchester, Providence, R. I. and monthly averages for the years 1927-28 New York—Gates W. McGarrah, New York, N. Y. on pages 36 and 37. These figures are yearly Philadelphia—H. L. Cannon, Bridgeville, Del. and monthly averages of daily quotations, most Cleveland—L. B. Williams, Cleveland, Ohio. of them based upon quotations furnished by the Richmond—Robert Lassiter, Charlotte, N. C. Federal Reserve Bank of New York in accord- Atlanta—W. H. Kettig, Birmingham, Ala. Chicago—F. C. Ball, Muncie, Ind. ance with tariff legislation passed in May, 1921. St. Louis—Paul Dillard, Memphis, Tenn. The others are taken from unofficial sources. Minneapolis—George W. McCormick, Menominee, In connection with the table of annual Mich. Kansas City—William L. Petrikin, Denver, Colo. averages oa page 35, changes in monetary unit Dallas— C/C. Walsh, Dallas, Tex. and par value which have taken place during San Francisco—William Sproule, San Francisco, the period under review are indicated, with Calif. the date on which the new monetary unit begar to be quoted in New York. APPOINTMENT OF CHAIRMEN AND DEPUTY CHAIRMEN The following have been designated as Fed- ELECTION OF DIRECTORS eral reserve agents and chairmen of the board The following directors of Federal reserve of directors of the Federal reserve banks for banks have been elected for the 3-year term terms of one year, expiring December 31, 1929: beginning January 1, 1929: Boston—Frederic H. Curtiss. New York—Gates W. McGarrah. CLASS A DIRECTORS Philadelphia—Richard L. Austin. Boston-—Frederick S. Chamberlain, New Britain) Cleveland—George DeCamp. Conn, (reelected). Richmond—William W. Hoxton. New York—Charles E. Mitchell, New York, N. Y. Atlanta—Oscar Newton. Philadelphia—John C. Cosgrove, Johnstown, Pa. Chicago—W. A. Heath. (reelected). St. Louis—William McC. Martin. Cleveland—Chess Lamberton, Franklin, Pa. (re- Minneapolis—John R. Mitchell. elected) . Kansas City—M. L. McClure. Richmond—James C. Braswell, Rocky Mount, N. C. Dallas— C/C. Walsh. (reelected). San Francisco—Isaac B. Newton. Atlanta—E. C. Melvin, Selma, Ala. (reelected). The following have been designated as Chicago—Edward R. Estberg, Waukesha, Wis. St. Louis—John C. Martin, Salem, 111. (reelected). deputy chairmen of the Federal reserve banks Minneapolis—Paul J. Leeman, Minneapolis, Minn. for terms of one year, expiring December 31, (reelected). 1929: Kansas City—Frank W. Sponable, Paola, Kans. (reelected). Boston—Allen Hollis. Dallas—W. H. Patrick, Clarendon, Tex. (reelected). New York—Owen D. Young. San Francisco—C. K. Mclntosh, San Francisco, Philadelphia—Alba B. Johnson. Calif, (reelected). Cleveland—Lewis B. Williams. Richmond—Frederic A. Delano. CLASS B DIRECTORS Atlanta—W. H. Kettig. Boston—Albert C. Bowman, Springfield, Vt. (re- Chicago—James Simpson. elected) . St. Louis—John W. Boehne. New York—William H. Woodin, New York, N. Y. Minneapolis—Homer P. Clark. (reelected). Kansas City—W. L. Petriken. Philadelphia— C. F. C. Stout, Philadelphia, Pa. Dallas—Clarence E. Linz. (reelected). San Francisco—Walton N. Moore. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN NATIONAL SUMMARY OF BUSINESS CONDITIONS Industrial activity declined somewhat in during November and the early part of Decem- November, but continued above the level of a ber, but continued larger than in 1927. The year ago. Wholesale commodity prices de- decrease from October was especially marked in clined further, reflecting principally a con- loadings of miscellaneous freight. tinued decrease in the prices of farm products. Prices.—Wholesale commodity prices de- Security loans of member banks declined creased further in November and the first two sharply after the first week of December, while weeks of December. The largest price deother loans increased. clines during the six-week period were in farm Production.—Total output of manufacture? and food products and leather, while several was somewhat lower in November, reflectir^ groups of industrial products, notably iron and primarily a decrease in production of auto- steel, nonferrous metals, and cotton goods, were mobiles and steel, larger than is usual at this generally higher. Wholesale prices of gasoline season, but total output continued larger than and automobile tires declined. Among the a year ago. Production of pig iron and copper agricultural products, prices of raw silk, corn, continued to increase in November, textile livestock, and meats were lower during Novemmills remained active, and meat packing in- ber, while raw cotton and wool, wheat, and oats creased, while sugar refining declined seasonally increased somewhat. During the first two during the month, and the production of weeks of December, however, prices of all these building materials was smaller. Factory em- products, with the exception of raw silk, ployment and pay rolls were seasonally reduced, declined. Building materials were generally but were larger than in 1927. Mineral produc- higher in November, but declined somewhat in tion was in slightly smaller volume than in the middle of December. October, according to the Federal Reserve Bank credit.—Loans and investments of Board's index, which makes allowance for member banks in leading cities increased seasonal variations. Increases occurred in the $329,000,000 during the four-week period enddaily average production of copper, zinc, tin, and ing December 19. The advance during the first bituminous coal, while anthracite coal de- two weeks reflected chiefly a rapid increase in creased and the output of petroleum was some- security loans, which include loans to brokers what smaller. The value of building contracts and dealers in securities. Subsequently, a awarded in November and the early part of sharp decline in loans on securities was more December receded sharply from the record than offset by a rapid increase in all other loans figures of the two preceding months. The and in holdings of investments. The increase November total was slightly larger than in in all other loans, which include loans for comthe corresponding month in 1927, while the mercial purposes, was contrary to the usual volume of contracts for the first two weeks of movement at this season and carried the total December was smaller than a year ago. to the highest figure in eight years. The December forecast of the Department of Seasonal growth in the demand for currency Agriculture increased the estimated 1928 pro- in November and December, together with induction of cotton by 240,000 bales to a total of creases in member bank reserve requirements, 14,373,000 bales, which is nearly 11 per cent consequent upon an increase in their deposits, larger than a year ago. The total value of have been reflected in larger borrowings by the crops, based on December farm prices, is esti- member banks from the reserve banks. This mated at $8,456,052,000, as compared with recent growth, following upon demand caused $8,522,563,000 in 1927. by the loss of gold in earlier months, has Trade.—Department-store sales showed a sea- carried the total volume of reserve bank credit sonal increase in November, when allowance is to the highest level in seven years. made for the number of business days, and ap- The rates on call and time loans on security proximated those of a year ago, while inven- collateral increased during the last week in tories continued smaller than in 1927. Sales November and the first part of December, at wholesale declined seasonally, but were while rates for commercial paper were generally larger than in the same month of last year. steady. Rates on certain maturities of bankers' Railroad freight shipments decreased in volume bills increased somewhat. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

10 FEDERAL RESERVE BULLETIN RESERVE BANK CREDIT RESERVE BANK CREDIT OUTSTANDING AND PRINCIPAL FACTORS IN CHANGES MILLIONS OF DOLLARS M/LUONS OF DOLLARS 5400 5400 Member Bank Reserve Balances 192A- 1925 1926 1927 1928 Based on weekly averages of daily figures; latest figures are for week ending December 29 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11 JANUARY, 1929 FEDERAL RESERVE BULLETIN RESERVE BANK CREDIT OUTSTANDING AND PRINCIPAL FACTORS IN CHANGES [Averages of daily figures. In millions of dollars] Reserve bank credit outstanding Bills and securities held by Federal reserve banks Member Monetary Money in bank Month or week Total Bills dis- gold stock I circulation reserve volume 1 Total» co m u b e n a m t n e k b d s e f r o r ; bo B u il g ls ht se U S c n u ta i r t t i e e ti d s es balances 1927—December _ 1,568 1,513 529 378 4,416 5,049 2,399 1928—January 1,389 1,350 465 373 512 4,377 4,785 2,426 February _._ 1,264 1,237 471 360 406 4,373 4,709 2,368 March— 1,295 1,272 513 , 343 415 4,335 i 4,710 2,365 April. --- 1,405 1,371 661 358 351 4,287 ! 4,730 2,396 May _ - 1,472 ; 1,442 836 349 257 4,207 ! 4,722 2,388 June - 1,531 ! 1,495 1,019 244 232 4,119 ! 4,736 2,355 July. - 1,531 1,488 1,090 185 213; 4,113 ; 4,746 2,324 August 1,485 : 1,449 1,061 178 210 I 4,118 i 4,743 2,274 September ... _. 1,581 i 1,534 1,064 226 240 I 4,125 ! 4,804 2,314 October — 1,622 1,584 975 368 237 4,133 | 4,836 2,332 November... _ 1,653 1,610 897 471 238 4,151 I 4,860 2, 352 December __ _ 1,824 1,766 1,013 483 263 4,142 5,008 2,367 Week ending— Nov. 24 1,597 ! 1, 555 816 484 251 , 4, 160 4.835 2,346 Dec. 1 - 1,728 • 1, 698 970 482 ! 242 4,138 4,908 2,368 Dec. 8_ 1,790 1,752 1,024 490 i 233 4,131 4,947 2, 375 Dec. 15 - 1,794 1,743 978 484 ! 276 4,140 4.968 2,369 Dec. 22.. 1,818 i 1.728 930 462 i 326 4,149 5,060 2,332 Dec. 29 1,882 : 1,821 1,090 491 I 230 4,148 5,074 2, 366 Increase or decrease of week ending Dec. 29 compared with week ending- Dec. 22 +64 +93 +160 +29 -96 -1 +14 +34 Nov. 24 +284 +265 +274 +7 -21 ! -1-2 +239 +20 Dec. 31, 1927 +235 +229 +490 +105 -376 I -243 -1 -49 * Includes total bills and securities, amounts due from foreign banks, and reserve bank float (see p. 43). 2 Including "other securities." ANALYSIS OF CHANGES IN MONETARY GOLD STOCK GOLD MOVEMENTS TO AND FROM UNITED STATES [End of month basis. In millions of dollars] [In thousands of dollars] Increase (+) or decrease (—) during month Gold Month a s t t o o e c n f k d T n h et r o g u o g l h d 1 ! Th e r a o r u - ghT do h m ro e u s g ti h c 1928 month Total im o p r o rt I m o a p r e k ra in - g pr t o io d n u , c- From or to— December * November N Ja o n v u em ar b y e - r export tions etc.i 1927— F M J e a a b n r u r c u a h r a y ry-.. 4 4 4 , , , 5 5 5 6 9 8 4 7 6 + + + 7 2 1 2 1 1 . . . 3 3 1 I I ! + + + 1 1 4 9 0 4 . . . 9 8 5 + + - 1 1 3 9 . . 5 . 2 5 + + -1 1 8 . . . 8 8 3 p I o m rt - s p E o x rt - s p I o m rt - s p E o x rt - s p I o m rt - s p E o x rt - s April 4,610 +12.9 | +11.9 -1.0 +2.1 J J N A S D O M u u e o u c e n a l p t c g v y o e y t e u e e . b m m m s e t r b b b e e e r r r . - . . . 4 4 4 4 4 4 4 4 , , , , , , , , 5 5 4 3 5 5 6 5 7 4 5 7 8 8 0 8 1 1 1 9 7 0 8 8 - - - - - 8 7 3 + 2 1 - - 1 7 9 1 0 0 7 8 . . . . . . . . 4 5 7 7 9 5 1 5 I j, + + - - - 6 5 + + 1 - 1 3 8 7 3 1 8 6 2 1 . . . . . . . 6 . 4 2 5 9 4 8 7 » 3 2 - - - - - 2 4 - - - 3 3 2 8 9 2 5 0 6 5 3 . . . . . . 5 0 5 0 . 0 . 5 1 7 + + + + + + + + 3 6 4 4 3 3 3 2 . . . . . . . . 0 6 7 4 0 2 4 5 I N B E F G C C t r a n e a e e e a l l n g n t r g n y h m a l t i c a r e u d a a e n r m a n l l d a y A nd m s erica 23,000 24,9 3 5 5 7 0 3 0 5 22,1 2 2 6 1 0 3 78 7 , , 4 5 9 1 7 2 6 5 5 4 6 2 2 1 3 2 2 3 2 0 2 4 6 8 2 2 8 , , , , , , , 0 0 0 3 6 5 0 5 0 0 0 2 1 4 9 2 2 0 0 3 5 9 3 5 Total (12 mos.). -112.7 +6.2 -160.1 +41.2 M Ar e g x e ic n o tina. _ _ 2,5 4 0 2 0 9 81 4 4 , ,3 5 4 0 7 0 69 4 , , 4 4 0 7 0 5 1928— J J A D A N S F M O M u u J e e e u c p a o n l a a b p c t n y g r v r o y e e r t u i u c b e e l u m a h s . m e m a r t b y r r b e y b r e - e r r 3 _ . . - . . 4 4 4 4 4 4 4 4 4 4 4 4 , , , , , , , , , , , , 1 1 1 1 1 1 1 1 2 3 3 3 2 4 0 6 4 2 1 2 6 6 0 7 8 2 9 0 1 5 3 3 6 2 5 3 -1 + + - + - - - - 1 1 + 5 5 3 + - 0 1 1 1 6 1 4 7 1 8 5 3 2 2 7 0 . . . . . . . . . . . 0 . 2 6 7 0 7 0 4 1 9 3 3 + + - — - - - - - + 7 6 8 1 9 9 2 1 + + 1 9 3 1 4 3 1 5 2 3 1 . . . . . . . . . . . 9 9 9 7 8 2 . 7 5 7 6 3 1 + + + + - - - + + + 2 2 + 1 - 6 4 3 3 1 5 5 6 2 5 5 1 0 5 5 0 . . . . . . . . . . . 2 . 0 7 9 5 9 5 9 2 7 8 1 + + + - + + + + + + - + 3 1 1 6 2 6 2 3 5 2 6 2 . . . . . . . . . 0 . . . 2 5 4 8 5 3 7 8 0 3 8 B E U V C C P B J D C P a r e h c o h r e r h u K p a r i u u i l n i i z t t l o u a l n a o g e i c e i i m n s l p d z n a u h h u o p b a g E e i r i y I a n l a n a a e n s d t d i I a s I n l a d H n i d e o s s n g . . | 1 1 ' " 400 1 1 1 1 4 2 4 8 0 1 2 0 0 4 9 9 2 8 2 3 10 4 1 0 1 2 1 1 1 1 1 , , , 2 3 1 5 4 3 5 9 9 6 5 9 4 9 9 1 1 2 3 9 4 2 2 2 9 2 8 5 2 5 1, , , , , , , 4 0 0 6 5 0 3 1 7 1 0 7 7 5 3 8 2 2 0 0 3 0 0 7 Total (12 mos.). -238. 2 -393.7 +119.6 +35. 9 All other countries... 2 431 640 10,138 6,847 Total 23,000 831 29, 591 22,915 143,947 559,123 i For detailed explanation of this figure, which is derived from preceding columns, see BULLETIN for December, 1928, p. 831. »Includes effect of earmarking operations connected with gold held i December figures are preliminary—3 customs districts: New York, abroad by Federal reserve banks. St. Lawrence, and San Francisco. 3 December figuresp reliminary. * Includes all movements of unreported origin or destination. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

12 FEDERAL RESERVE BULLETIN JANUARY, 1929 MILLIONS OF DOLLARS MILLIONS OF DOLLARS 2000 2000 RESERVE BANK CREDIT 1500 1500 1000 1000 500 500 1924 1925 1926 1927 1928 This chart is based on weekly averages of daily figures; latest figures are for week ending December 29 DISCOUNTS FOR MEMBER BANKS [Monthly averages of weekly figures. In millions of dollars] MILLIONS OF DOLLARS MILLIONS OF DOLLARS 700f i i i r 700 DISCOUNTS FOR MEMBER BANKS Eeporting member banks in leading cities Member All banks Month m b e e m r - New I I * O the ci r t i l e e s ading o si u d t e banks Total York ! l i e n a g d- CUy i I T oTtoatla l i ! c ag ™ o cities 1927—January 476 299 76 223 l 177 February 392 233 60 173 ! 159 March 419 268 73 195 ; 151 April 421 270 78 192 151 May 459 302 90 212 '• 157 June 435 271 51 219 164 July 434 273 59 213 161 August 413 256 74 182 I 157 September.,. 417 267 90 177 150 October 428 283 75 208 145 November... 421 276 73 203 | 145 December... 532 388 127 261 143 1928—January 439 315 94 221 124 February 463 338 78 260 i 125 March 489 362 75 287 ! 127 April 637 488 145 343 149 100 100 May 826 644 222 422 182 June 1,012 796 271 525 i 216 July 1,079 854 274 580 225 August - 1,045 806 223 583 239 September . 1,063 823 266 557 i 240 October 960 736 202 534 i 224 1924 1925 1926 1927 1928 November... 901 681 157 524 220 December 1,039 799 221 578 ; 240 Based on monthly averages of weekly figures Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

13 JANUARY, 1929 FEDERAL RESERVE BULLETIN MONEY RATES IN NEW YORK CITY 1923 192*+ 1925 1926 1927 1928 FEDERAL RESERVE BANK RATES OPEN-MARKET RATES RATES IN NEW YORK CITY DISCOUNT RATES Prevailing rate on- '; Average_rate| Averagejrield [Rates on all classes and maturities of eligible papei] Bosto F n e . d eral re „ serve bank e R ff J a e a c t n e t . i 5 o 4 n n J D ul a y t e 1 9 e , s t 1 ab 92 li 8 sh .. ed ... Pre ra v t i e o 4 u H s Month or week m m p P 4 c o a r e o n t p i r o m m t c e h i r - f e a s , i l a a P b c n e a r c 9 c r i n e s m 0 e p k ' s t e - , - d l T o a i a 9 y m n 0 s s e 2 , N C e a w ll lo n a e R n w e ? a i l c T c n u e a a u r o r n e t r t t e i a y d s e f s s s l . - j | ( b T o r u n e d r a y s j- New York 5 July 13, 1928 VA days C Ph le i v la e d la e n lp d hia 5 5 J A u u ly g . 2 1 6 , , 1 1 9 9 2 2 8 8 4 4 M H month _ s l_ Richmond.. « 5 July 13, 1928 1927 Atlanta 5 July 14, 1928 A\A November 3.60 3.60 3.04i 3.39 Chicago 5 July 11, 1928 December 3k 4 4.43 4.38 4 3.17 3.34 D S S K M a t a a i n l n n l L s n a F a o s e r s u a a i p n C s o c i l i t i s s y c . o . . .. . 4 4 5 H M J J J A M u u u p l a n n y r y e e . 1 2 2 7 7 9 5 , , , , , 1 1 1 9 1 9 9 1 2 9 2 2 9 2 8 2 8 8 8 8 4 4 4 A 4 AA J M F a e n a b r u r c a u h r a 1 y r 9 y 28 4 -AH 3H 4 4 4 . . 4 3 l 8 f 3 i 4 4 4 . . . 2 3 4 4 8 7 <.« 3 3 3 3 . . . 3 3 2 3 1 3 3 0 ' ' i \ / 3 3 3 . . . 3 3 3 0 0 5 April 5.06 5.0V »3.62j 3 32 May ii 5 -, 5.69 5.70 «3.901 3.35 June 5H-5U 6.21 6.32 •3.92 3.40 BUYING RATES ON ACCEPTANCES July 5 -h 6 6.06 6.05 4 12 3.50 August 6 -6] 6 91 6.87 4.36 3.56 [Buying rates at the Federal Reserve Bank of New York] September 4K 7.40 7.26 < 4 4 . . 5 5 3.54 October 7~7H 7.12 6.98 4.70 3.55 Maturity e R ff a e t c e t \ o n n Date established Previous November 4H 6.86 6.67 3. 48 Jan. 4 rate December 8.86 8.60 Z 355!7 3. 53 Week ending— Dec. 1 8.39 7.38 4.16' 3.50 4 3 1 1 6 - 1 6 1 - - 6 5 3 4 0 0 5 d d d a d y a a a s y y y s s s . . . . . . 4 4 i 4 % M K H ! ' i J J u an ly . d d 4 2 o o , 6 , , 1 9 1 2 9 9 2 . 8 .. . . . f 4H t D D D D e e e e c c c c . . . . 8 2 2 1 2 9 5 4 4 M H 7 7 7 7K % % %1 9 7 7 0 . . . . 2 8 2 8 6 7 5 3 10 7 8 8 . . . . 0 2 8 0 0 0 0 0! 4 4 4 4 . . . . 2 3 4 2 7 9 9 4 ! 1 3 3 3 3 . . . . 5 5 5 5 3 1 5 5 61-90 days.. i%\ do 91-120 days. *H\ do i Stock exchange call loans; new and renewal rates. 121-180 days 5 July 26, 1928.. * Stock exchange 90-day time loans »3 issues—W\, 4, and \M per cent; yields calculated on basis of last redemption dates—1956, 1954, and 1952. NOTE.—Hates on prime bankers' acceptances. Higher rates may be * Change of issues on which yield is computed. charged for other classes of bills. 4 Maturities of 6 to 9 months. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

14 FEDERAL RESERVE BULLETIN JANUARY, 1929 PREVAILING RATES CHARGED CUSTOMERS BY BANKS IN PRINCIPAL CITIES The rates shown are those at which the bulk of the loans of each class were made by representative banks during the week ending with the 15th of the month. Rates reported by about 200 banks with loans exceeding $7,500,000,000. FEDERAL RESERVE BANK CITIES Month Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - St-1*™ ™X | Dallas San ci s F c r o an- Prime commercial loans 1927—December. 4%-4%: 434H 4 -5 4V£-5 5 4M-6 6 -6 1928—January 4 -5 4K-5 5 4M-6 434-5M February.. 4 -5 4^-5 5 4^-6 4H-5 March 4^-5 4H-5M 5 4}i-6 4K-5 April -5 434-5 434-5 5 4H-6 4^6 May_ -5 434-5 4H-5H 5 4^-6 June 5>i-534 5^-6 4H-5H &A-&A 5 4%-6 434-6 July 534; 5 -6 -53- 5 -VA 5 -6 5 -534 5 -6 434-53 A Se u p g t u e s m t ber. 534-5 5 % / ; 5 5 1 3 4 4 - -6 6 AA -534 5 -5l/2 5 5 M - - 6 5H 5 -5 5 ) % 4 4 5 % - - 6 6 4 4 3 H 4 - - 5 5 M H N D O o e c c v t e o e m b m e b b r e e . r . r . . . 5 5 5 * 3 3 6 4 4 - - - 6 6 6 5 5 53 * H 4 6 - - - 6 6 6 j 5 5 V M * A 4 - - 6 5 % % 5 5 5 3 ^ H 4 - - - 6 5 5 H % 5 5 5% 3 3 4 4 - - - G 5 6 % 5 5 5 3 V H 4 2- - 6 6 5 5 5 3 ^ H 4 - - - 6 6 6 4 4 3 ^ 4 - -5 5^ 3 4K5H Loans secured by prime stock-exchange collateral 1928—June 5 -5} 53^-6 ! 5M-6 5 -6 5M-6 5 -6 5 -6 6 -7 5^-6 July 5 -6 5 -6 ! 5M6 5 -6 534-6 5^-6 5 -6 5 -7 534-6 August 534~6 534-6 5^-6 534-6 5 -6 fi -8 5^-6 September. 534-6 5^-6 5K6H 5H-6 5 -6 6 -7 October... 5*6-6 5H6 0>W ^ 534-6 5 -fi 6 -7 53-2—6 November. 534-6 -6J4! 534-634 5M-6 5 -6 r>-8 534-6 December. 6 -634 5H-6 -7 1 6 5^-6 5 -6 6 -7 5H-6 Loans secured by warehouse receipts 1928—June H 5 -6 5 -6 4%-6 6 5 -6 5 -534 5 -6 4%-534 5 -6 5 -6 -6 July 534-6 5 -6 5 -6 6 6 5 -6 5 -6 4%-534 5 -6 5 -6 6 August 534-6 5*^-6 534-6 6 6 534-6 534-6 5 -6 5 -6 5 -6 6 September- 5*?6 6 6 6 534-6 534-6 534-6 5%-6 5%-6 534- October 5*6-6 6 6 6 5*6-6 5*6-6 5*6-6 5*6~6 November- 534-6 6 6 6 534-6 534~5% 534-6 6 -7 December . 5 -6 5%-6 6 6 6 534-6 5*^-6 6 534-5% 534-6 6 Interbank loans 1928—June 5 434-5 5 -5H 4%-534 5*i-534 5 -6 5 —534 5 -5M 534-6 6 5 5 -6 July 5 -6 5 -534 5H-6 5 -534 5H-5% 5 -6 5 -6 5 -534 5/4~6 5 5 -6 August 534 534 5%-534 534-5% 5*4.-6 5 ~5/^ 5K-5H 514-6 5^£-6 5 -6 5 -6 September. 534-6 534 5*4 534-5% 5 -534 534-6 5*4-6 5*^-6 5 5 -6 October... 5*6-5% 5M-6 5*<f6 5 -6 5*^-6 5*6-6 5 -5*6 5 -6 November- 5J4-6 5*4.-6 534-5% 534-6 * 534-6 5H 5J4-6 5H-6 534-6 5 -6 5 -6 December. 534-6 5 -6 534 534-6 53-2-5% 534-6 534-6 53f-6 5%-6 5H-6 5 -6 5 -6 FEDERAL RESERVE BRANCH CITIES Prime commercial loans s L to o c a k n - s e x se c c h u a r n e g d e b c y o l p la r t i e m ra e l City October, Novem- Decem- October, 1928 ber, 1928 b 19 e 2 r, 8 1928 Buffalo 5*6-6 5V-6 534-6 5 V C incinnati 6 6 6 6 P B i a tt l s t b im ur o g r h e.... . . 5V2-6 534-6 5 ft * *- Charlotte 5*6-6 534-6 534-6 Birmingham „ 5 -6 5 -6 5 -6 6 Jacksonville.. 5 -7 5 -7 5 -6 fi Nashville 6 6 6 New Orleans 5*6-6 534-6 6 -7 Detroit 534-6 Little Rock 5H-7 5H-7 Louisville 6 6 Helena 8 8 8 Denver. ... 534-6 Oklahoma City 5 -6 5 -6 5 2-6 Omaha. . 534-6 El Paso 8 6 -8 8 Houston 5*6-6 5 -6 San Antonio.. 5 -8 5 —8 5 -8 Los Angeles 6 6 -7 6 Portland 6 6 6 Salt Lake City 6 6 6 Seattle 6 -6*6 6 6 -7 Spokane 6 6 6 SO iOSO 4-fi 6-6 4-fi fi opoc Novem- ber, 1928 5*- 6 5* 53fi8 6 6 6 6-6 6 fi 8 5*6-7 6 -7 fi 6 -8 4-7 fi -8 6 -7 fi *6 -7 fi -7 6 -7 CO COCC <-fi -6*4 *-fi <-fi 6 COOC Decem- ber, 1928 6 5* 5* 6 6 -634 6 5* 6 fi 8 7 2 -s'" 5>4-6 fi -8 6 -7 fi -fiU 6 -7 6 -7 SOSOS3 Loans secured by warehouse receipts October, Novem- .1928 ber, 1928 6 fi 6 -7 6 -7 6 -7 *-6 6 6 3-6 fi 6 6 fi fi 6 6 -7 6 -7 -8 5*4-R 6 6 -6*6 5*6-6 6 -7 6 fi 8 6 -8 -634 6 -8 -8 6 -7 -7 fil fi -8 7 -8 ft -fi fi -7 6 -8 6 -8 6 -7 6 -7 6 -fii^ 6 -7 6 7 6 -7 6 -7 7 s,oso so SO SO SO 53 Interbank loans Dec October, Novem- Decem- be 1928 ber, 1928 ber, 1928 1928 fi 5*6-6 534-6 5K-6 6 5*6-6 5H~6 Ki/_g 6 6 6 6 6 5 -6 5 -6 fi 5V6-6 6 -7 5 -6 5 2-6 5 -6 5*4-8 6 6 6 4-6 5**-« 5*6-6 534-6 -634 6 5*6-6 534-6 534-6 6 534-6 534-6 534-6 -7 6 -7 6 5 -6 6 6 fi 534 -8 6 -8 6 -8 6 -8 6 -8 - - 8 7 6 6 - - 8 7 6 -6 6 *6 6 -6 6 */2 6 -6 6 34 -7 6 6 6 7 -8 -8 6 6 6 fi -7 6 5 —5*6 5 -534 5 -6 6 -8 6 -8 5 -6 5 -534 5 -6 6 -7 6 -7 6 6 6 6 —7 6 -7 6 6 6 7 7 6 6 6 6 -7 6 -7 6 6 6 7 7 6 6 6 * Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 15 MEMBER BANK CREDIT ALL MEMBER BANKS MILLIONS OF DOLLARS MILLIONS OF DOLLARS 10000 10000 [In millions of dollars] REPORTING MEMBER BANKS Reporting member banks in Mem- i- AH Other Loans . leading cities ber | ( Largely Commerci'a All banks mem- Other leading out- Month ber New cities side 8000 8000 banks Total York ... _. lead- City Total c C a h g i- o c i i n ti g es Borrowings at Federal reserve bank: 1027- December 532 388 127 261 21 143 1928— January 439 315 94 221 23 124 6000 6000 February 463 338 78 260 13 125 March 489 362 75 287 25 127 April 637 488 145 343 35 149 May 826 644 222 422 49 182 June 1,012 796 271 525 61 216 July 1,079 854 274 580 80 225 August— 1,045 806 223 583 80 239 September 1,063 823 266 557 41 240 4000 4000 October 960 736 202 534 58 224 November 901 681 157 524 67 220 December 1,039 799 221 578 91 240 Reserve balances: 1927— December 2,410 1,787 769 1,018 189 623 1928—January 2,436 1,805 781 1,024 193 631 February. 2,384 1,765 754 1,011 186 620 A M M p a a r y r i c l h 2 2 2, , , 3 3 4 9 5 1 5 1 1 1 1 1 . , , 7 7 7 7 8 3 8 9 3 7 7 7 6 7 3 7 7 8 1 1 , , 0 0 9 1 1 9 1 2 5 1 1 18 8 8 7 2 1 6 6 6 2 1 1 2 7 8 2000 1923 1924 1925 1926 1927 1928 2000 June 2,364 1,747 749 998 184 617 July.-- 2,344 1,730 730 1,000 190 614 REPORTING MEMBER BANKS August 2,289 1,679 705 974 180 610 September 2,325 1,707 716 991 184 618 [Monthly averages of weekly figures. In millions of dollars] October 2,343 1,714 720 994 179 629 November 2,350 1,721 721 1,000 184 629 December 2,382 1,750 752 998 190 632 Total Loans Net demand plus loans 1 1 9 9 2 t 2 i 8 7 m — — e J D d a e e n c p u e o a m s r i y b t e s r : 3 3 2 2 , , 6 2 4 6 7 3 2 20 0 , , 6 3 4 9 6 5 6 6 , , 6 7 0 3 4 2 1 1 3 3, , 9 7 1 9 4 1 1 1 , ,9 9 6 3 4 1 1 1 1 1 , , 8 9 3 1 2 1 Month a m n v d e e s n i t t n - s - Total O c t n u ie r s i s - e- o A th l e l r I m nv e e n s ts t- February 32,152 20,397 6,564 13,833 1,919 11,761 Ne 1 1 t 9 9 2 2 d 7 8 e — — m S N J J A A D M M F M O D u J a u e e o u p e c a a n n a a p e l b c t n g v r y r d r e y c o t i r e u u c e c e l e b u . m a h m h s . m m d e a r t b y r e b b r b y e p e e e r r r o r sits: 3 3 3 3 3 3 3 3 3 3 1 1 1 1 2 2 2 9 9 2 1 2 2 2 2 2 9 9 , , , , , , , , , , , , , , 0 6 6 1 5 1 1 2 6 5 2 7 7 5 5 0 5 5 6 6 7 1 1 1 4 3 1 8 9 6 1 0 2 5 8 1 3 5 1 5 9 6 2 2 1 2 2 2 2 2 2 1 1 1 1 1 0 0 9 0 3 3 0 0 0 9 0 0 3 4 , , , , , , , , , , , , , , 3 2 3 8 1 9 6 0 9 6 4 7 3 7 3 2 7 0 4 7 1 8 9 8 1 6 7 0 7 6 2 4 8 1 2 6 9 4 1 0 5 7 6 5 6 6 6 6 5 6 6 6 6 6 5 5 , , , , , , , , , , , , , , 4 4 2 2 7 7 3 4 6 5 5 5 5 4 7 6 6 2 5 7 4 5 2 8 4 3 0 7 2 7 7 2 8 0 7 9 7 9 7 3 3 1 1 1 1 1 1 1 1 1 1 1 3 8 3 8 8 8 3 3 3 3 3 3 4 3 , , , , , , , , , , , , , , 3 1 3 2 7 6 8 8 9 8 8 0 8 7 3 4 7 3 7 6 2 1 5 2 9 0 3 6 4 4 9 6 9 9 6 3 9 8 5 1 2 5 1 1 1 1 1 1 1 1 1 1 1 1 1 , , , , , , , , , , , , , 9 9 9 2 9 9 9 9 2 9 3 9 2 9 4 4 3 6 0 4 9 7 9 2 2 3 9 4 4 1 2 2 8 3 1 2 5 6 3 1 8 2 1 1 1 1 1 1 1 1 1 1 2 5 5 1 6 5 1 2 1 1 2 1 1 1 , , , , , , , , , , , , , , 6 4 4 6 8 1 8 1 9 9 8 9 9 2 2 5 7 7 1 2 9 1 3 7 0 3 2 4 7 5 6 4 1 4 4 4 8 1 0 3 1 9 Tota 1 1 l 9 9 : 2 2 7 8 — — N J J A S D M A M F O D J u u e e o e u p a c a n a l p e b c n y v r g t y r e c t o i r e u c u e e l e u b m a h m s m m a r e t b y r b b r b y . e e e e r r r r 2 2 2 2 2 2 2 2 2 2 2 2 22 2 2 2 1 2 1 1 1 2 2 2 2 , , , , , , , , , , , , , 3 4 4 7 5 9 7 9 2 4 3 2 7 6 9 2 2 6 1 3 2 3 7 8 8 6 6 4 7 8 8 7 7 2 0 8 6 8 7 1 1 1 1 1 1 1 1 1 1 1 1 1 5 5 5 5 5 5 5 5 5 5 6 6 5 , , , , , , , , , , , , , 9 3 3 7 8 8 1 3 7 1 3 9 8 0 3 9 7 5 1 4 2 2 6 4 6 3 6 2 5 7 8 6 2 3 7 6 5 1 4 ! ! | 6 6 6 6 6 6 6 6 6 6 6 6 7 , , , , , , , , , , , , , 5 5 5 7 8 9 7 7 9 8 8 7 0 9 2 0 3 2 0 4 9 7 4 6 7 9 4 7 2 1 9 4 1 1 3 5 8 3 5 8 8 8 8 8 8 9 8 8 9 9 9 9 , , , , , , , , , , , , , 6 7 1 9 9 6 9 8 1 9 0 1 2 6 3 9 5 1 1 5 0 2 4 6 9 5 4 9 7 4 7 5 0 5 1 3 1 3 0 6 6 6 6 6 6 6 6 6 6 6 6 6 , , , , , , , , , , , , , 3 3 6 5 5 5 4 6 4 4 5 6 4 6 9 1 5 9 0 2 7 2 6 8 6 6 7 6 6 4 9 8 2 0 2 0 8 2 1 Ti 1 1 m 9 9 e 2 2 7 8 d — — e J A S A M M N J F D O p D u J u e e o u p o e c a a a l n p e b n y c s t r g v y r c e o t i r i e u u c e e l e t u b m a h s m s m m e a r : t b y r b r b b y e e e e r r r r . 1 1 1 1 1 1 1 1 1 1 1 1 1 8 9 8 9 9 3 9 9 2 8 8 2 2 , , , , , , , , , , , , , 0 1 0 1 9 9 6 2 6 3 3 7 7 0 7 2 5 6 9 7 7 9 9 1 7 8 5 0 8 9 0 0 7 3 1 5 9 1 9 1 1 1 1 1 1 1 1 1 6 6 3 3 6 6 3 3 3 2 3 3 3 , , , , , , , , , , , , , 6 7 4 6 4 2 4 0 9 8 4 7 2 3 6 9 9 5 8 1 9 4 4 8 9 5 4 4 1 0 4 8 3 4 3 9 8 4 5 5 5 5 5 5 5 5 5 5 1 1 1 1 , , 2 , , , , , , , , , , , 0 1 3 0 6 5 0 2 3 0 0 0 6 9 5 3 0 0 6 6 7 9 7 9 8 2 2 5 7 6 4 1 9 3 9 4 3 0 8 8 8 7 8 8 8 5 5 8 5 5 8 , , , , , , , , , , , , , 1 2 1 2 4 5 6 1 8 5 0 1 0 4 4 4 5 9 2 8 3 0 0 8 0 1 9 9 2 7 7 8 4 5 3 2 2 9 5 1 1 1 1 1 1 1 1 1 , , , , , , , , , 2 2 2 2 2 2 2 2 2 6 6 6 6 6 6 6 5 4 5 8 5 3 4 3 3 6 6 8 6 8 2 7 5 8 1 1 3 0 1 5 6 5 5 5 5 6 6 5 5 5 5 6 , , , , , , , , , , , , , 4 3 4 2 5 4 4 6 3 4 3 6 2 9 5 7 8 5 8 8 5 9 0 4 1 0 4 1 2 6 9 5 2 3 3 0 5 1 5 New 1 1 9 9 Y 2 2 o 7 8 r — — k S N J J A M F A M O D D J u u C e e o a p u c e a a n l p e b i n y t v r g c y r c e t o t i r u c e y e e e u l u b a h m m : m m s e a r t y r b b r b . b y e e e e r r r r.. _ 7 7 7 7 7 7 7 7 7 7 7 7 7 , , , , , , , , , , , , , 1 2 1 3 5 4 2 1 4 1 3 2 3 8 7 2 1 0 4 5 7 4 0 9 8 4 8 7 4 4 0 1 3 4 8 3 9 3 3 5 5 5 5 5 5 5 5 5 5 5 5 5, , , , , , , , , , , , , 4 3 1 4 2 3 4 1 5 3 3 3 5 3 1 4 0 3 2 4 3 1 0 3 8 5 6 2 3 0 9 8 2 5 1 8 7 0 5 2 2 2 2 2 2 2 2 2 2 2 2 2 , , , , , , , , , , , , , 6 5 6 7 6 4 5 6 4 6 5 5 7 9 0 0 6 6 2 8 3 5 1 9 0 1 2 9 5 5 6 9 9 4 5 9 3 1 5 2 2 2 2 2 2 2 2 2 2 2 2 2 , , , , , , , , , , , , , 6 7 6 7 8 6 7 8 7 7 8 8 7 1 7 1 0 1 2 9 3 7 0 8 1 9 9 4 4 2 5 2 9 9 1 8 0 8 1 2 2 1 1 2 1 1 1 1 1 1 1 1 , , , , , , , , , , , , , 9 0 0 9 9 9 8 9 9 0 9 9 8 0 1 0 6 0 9 9 0 7 1 1 4 8 5 0 5 9 9 5 2 7 7 5 1 8 0 S J A J A M N D O u u e u p e o c n a l p g y c t r v y e t o i u e e e l b s m m m t e — b r b b e e e r r r j ; 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 , , , , , , , , , 4 4 5 3 4 4 2 3 4 2 4 1 6 7 1 5 6 2 0 3 1 2 8 8 9 8 2 6 6 6 6 6 6 6 6 6 , , , , , , , , , 9 9 9 9 8 9 9 9 9 0 6 3 3 2 9 1 0 1 5 6 8 7 3 6 6 5 8 1 1 1 1 1 1 1 1 1 , , , , , , , , , 1 2 1 1 2 2 1 1 1 7 2 0 1 6 9 0 7 9 4 0 6 0 1 3 8 5 8 5 5 5 5 5 5 5 5 5 , , , , , , , , , 7 7 7 7 7 7 7 7 7 1 4 6 1 8 3 1 7 2 7 4 4 0 6 0 5 3 0 6 6 7 6 7 6 6 6 6 8 1 7 7 8 8 2 8 7 9 4 4 8 1 9 5 4 7 6 6 6 6 6 6 6 6 6 , , , , , , , , , 4 4 5 5 4 4 4 4 5 9 5 3 7 8 6 6 4 1 0 6 5 8 0 3 1 1 3 Othe 1 1 r 9 9 2 2 l 7 e 8 — a — d A J A J M F M D i J u u n e u p a a n a l e g b n y r g y r c e i r u c u l e u c a h s m i a r t t y r i b y e e s r : 1 1 1 1 1 1 1 1 1 4 4 5 4 4 4 5 5 5 , , , , , , , , , 0 6 7 6 0 0 0 6 9 5 3 7 4 3 3 8 8 0 4 4 4 0 9 0 7 3 4 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 , , , , , , , , , 0 0 3 4 1 1 4 4 3 6 8 2 3 0 4 8 5 6 6 3 3 6 5 2 0 8 7 4 4 4 3 4 4 4 4 4 , , , , , , , , , 2 2 2 0 9 1 0 0 2 8 4 3 2 8 8 1 7 1 4 4 9 6 8 6 8 3 1 6 6 6 6 6 6 6 6 6 , , , , , , , , , 1 1 2 1 1 1 0 0 1 9 1 4 0 3 5 4 4 4 8 6 6 7 7 2 8 5 1 4 4 4 4 4 4 4 4 4 , , , , , , , , , 5 5 6 4 5 5 6 5 6 8 8 9 6 9 6 5 8 5 7 8 4 8 9 0 7 1 1 September 15,045 10,497 4,210 6,287 4,547 U E .— All figures in this table are monthly averages of weekly figures October 15,125 10, 619 4,234 6,385 4,505 except those for deposits of (1) all member banks, and (2) banks outside November 15,153 10, 691 4,307 6,384 4,462 leading cities; these are for a single date in the month. See BULLETIN December 15, 2S3 10, 790 4,380 6,411 4,503 for December. 1927. p. 828. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

16 FEDERAL RESERVE BULLETIN JANUARY, 1929 BANKERS' BALANCES OF REPORTING MEMBER BANKS IN LEADING CITIES [Monthly averages of weekly figures. In millions of dollars] Other leading cities New Total Y T o it r y k Total I Boston d P e h lp il h a i - a b P u i r tt g s h - C l l a e n v d e- c C a h g i o - L S ou t. is ne M ap i o n- lis K C a i n ty sas F c S i r s a a c n n o - o A th D er Due to banks: 1926—November 1, 052 | 128.3 165. 6 46.6 349.2 78.9 52.7 97.0 105. 8 December 1,078 ! 126.5 163.1 45.1 349.1 79.5 50.8 96.7 107. 6 1927—January . 107 136. 8 173.0 48.8 372.4 88.5 53.1 101.2 105.9 February. 3,302 1,090 2.212 J 135.8 173. 1 134.5 53.6 364. 5 88.3 55.5 95.3 127.1 983.8 March 3,304 1,118 2, 186 !134.6 172.5 128. 8 54.0 374.1 87.0 53.6 90.3 104.1 986.7 April.. 3,243 1.104 2, 139 j 142.2 170.6 128.8 55.6 364.8 86.1 50.9 86.7 94.9 958. 2 May 3,225 1,117 2. 108 i 137,3 169.1 124 3 55. 1 374.4 81.8 47.5 82.6 98.4 937.8 June 3,229 1,171 2,058 I 143. 1 164.2 121.3 56. 1 347.9 81.4 47.5 82.7 99.9 913.8 July 1,164 2,144 ! 160.7 169.1 125.0 60.3 363.4 81.9 46.5 91.8 108.4 930.6 August 3, 313 1,160 2, 154 !152. t 167.9 128. 5 60.4 363.9 78.6 45.5 91.2 107.4 958.2 September 3,379 1,177 j 2,202 ! 141.4 168.6 127.3 61.4 372.0 78.7 57.6 87.9 105.7 1, 001. 6 October 3,475 1,209 2,266 ! 146.8 172.9 130.8 61.2 376.8 78.9 63.8 83.8 110. 1 1,040. 8 November 3.653 1,324 2.330 i 156. 5 173.5 132.9 63.1 368.1 85.3 62.3 83.8 127.9 1.076.1 December 3,587 1,282 2,306 i 150.7 168.0 131. 2 59.6 370.0 86.4 58.4 88.1 126.3 1,066.9 1928—January 3,748 1,373 2,375 i 167 5 204 2 131.3 62.0 379.8 88.5 57.1 92.2 117.7 1, 074. 7 February 3,634 1,331 2.303 ! 148.9 192.4 132.2 62.9 375.0 85.9 58. 1 92.9 114.5 1.040.2 March 3,548 1,318 2,230 ! 141 3 188.2 118 4 61.2 378.6 77.9 61.8 89.4 117 1 996.1 April 3,463 1,281 2, 182 '•149.8 185. 8 118. 5 60.2 381. 7 77.5 58.5 84.5 114. 1 961.4 May.. 3,320 1,247 2,073 i 141.2 174.2 112. 2 59.1 357.7 78.6 55.1 82.2 96.6 916.1 June _ _. 3,153 1, 160 1,993 i 130.0 162.9 101.8 58.8 367.4 74.4 52.8 77.0 101.3 866.6 July 3,184 1, 175 2 009 I no 2 Ifi3 1 101. 1 59. 5 353. 5 74.0 50.9 90.0 100.8 879.9 N S D A O e o u c e p t c v g o t e u e e b m m s m e t r b b b e e e r r r .. _ 3 3 3 3 3 , , , , , 1 0 3 2 2 7 3 0 8 5 7 9 7 0 2 1 1 1 1 1 , , , , , 1 1 1 1 1 3 8 9 6 1 4 7 5 5 0 2 2 2 2 1 , . , , , 0 0 0 9 1 9 2 8 4 1 3 9 7 2 2 ! i 1 i i 1 1 1 1 1 3 3 2 3 3 0 2 6 1 8 . . . . . 7 8 8 1 9 1 1 1 1 1 6 6 5 6 6 3 4 8 2 6 . . . . . 0 2 2 8 7 1 1 1 1 9 0 0 0 1 9 8 4 0 2 . . . . . 9 7 2 5 3 6 6 5 6 5 1 4 8 3 8 . . . . . 5 5 3 0 0 3 3 3 3 3 5 5 3 3 4 2 2 5 9 4 . . . . . 2 2 0 3 6 7 7 7 7 7 8 5 8 7 3 . . . . . 0 7 6 2 0 6 5 5 4 5 0 6 7 4 3 . . . . . 4 2 2 2 1 9 8 8 8 8 3 5 0 8 1 . . . . . 0 6 5 3 3 1 1 1 9 0 0 0 0 2 2 1 1 . . . . . 1 4 5 6 8 I 9 8 9 9 0 5 4 7 3 6 9 7 . . . . 6 1 3 9 Dae from banks: 1926—November 103 41.0 56 8 27.1 154.6 29.5 22.8 50.5 50.6 !. December 97 37 8 55.1 24.3 161.8 28.4 22.2 43.7 54.4 1927—January _ 100 40.2 55.2 27 5 154 2 31.7 21.5 44.6 50. 8 i February.. _:.,. 1,177 93 1,083 39. 1 58.0 35.5 23.3 144.5 29.9 20.0 41.9 52. 1 I 639.2 March 1,194 100 1,094 41.0 55.4 43 2 22.3 154.9 29.9 19.8 40.6 54.4 ! 632.5 April 1, 175 107 1,068 48.2 64.4 36.8 22.9 151.8 I 28.2 19.8 38.6 50.8 616.7 May _ 1,166 102 1,064 42.8 53.4 38.4 22.7 173.9 ' 27.3 19.6 33.5 51.3 601.4 June 1, 152 95 1.057 45.8 56.4 40 9 24.5 150. 6 26.5 19.9 33.4 53.5 605.6 July 1,148 92 1,056 4ft. 9 50. f 36. 1 22 9 148. 3 i 25.6 21.7 36.0 52.3 616.1 August 1,129 85 1,044 44. 1 52.3 39 7 24.2 146.8 27.0 19.8 33 1 53.3 i 603.6 September 1,194 95 1.099 43. 1 51.2 i 38.3 26.4 152.2 ! 25.6 27.7 32.9 58.8 i 642.6 October 1,253 111 1,142 52.6 52.3 41.0 24.9 152.7 28.0 29.3 36.1 56.8 I 668.4 November 1,275 104 1.171 ! 45.7 60.9 37 3 24 3 158. 1 30.6 24.5 35.1 66.8 I 687.7 1928— D J e a c n e u m ar b y e .. r 1 1 , , 2 2 1 6 5 9 1 1 0 1 3 2 i 1 , , 1 1 5 1 7 3 ; ',4 5 2 2 . . 2 3 5 5 6 2 . . 7 6 3 3 3 6. . 7 3 2 23 2 .3 6 1 1 5 4 0 7 . . 4 7 3 3 3 6 . . 1 6 2 21 0 . . 0 5 3 3 6 5 . . 0 2 7 6 0 8 . . 8 5 ! ! 6 67 5 8 1 . . 4 9 February 1,189 105 1,084 ! 41.2 52.1 34.6 24.9 145.9 32.9 18.8 33.1 64.7 635.8 March 1,169 110 1,059 i 36.7 50 3 32.7 231 150.8 29.9 19.7 81.8 61 8 i 622.2 April 1,192 123 1,069 42.8 57.8 32 3 23 9 161.1 29.6 17.4 32.4 56 2 i 615.5 May 1,160 115 1,045 i 40.1 56.6 31.0 23.6 173.7 28.6 20.7 30.1 55.8 i 584 8 June 1,124 104 1,020 ; 37.1 53 5 29 3 22.7 169.0 27.2 19.8 30.5 58.5 ! 572 4 July 1,135 102 1,033 ' 41.9 53.3 ! 31.0 25 1 162.0 25.8 23.8 34.5 54.6 i 581.0 August 1,053 88 965 ; 34.6 50.7 I 33.2 23.6 151.4 25.3 19.1 33.5 49.0 544.6 September _ 1,150 102 1,048 34.5 51.5 | 37.0 i 24.1 165. 4 25.3 21.0 35.6 55.8 I 597.9 N O o ct v o e b m er ber 1 1 , ,1 2 7 0 7 8 1 1 0 0 8 0 * 1 1 , , 0 1 7 0 7 0 i i 3 3 7 8 . . 8 3 5 5 7 6 . . 0 5 ! 3 3 4 6 . . 9 6 2 2 4 2 . . 4 9 •1 1 6 6 2 1 . . 4 4 2 2 9 6 . . 3 8 2 2 5 4 . . 6 0 3 2 2 9 . . 8 8 5 5 3 4 . . 3 0 i | * 6 6 2 4 5 4 . . 0 0 December 1,201 110 1,091 36.9 55.2 35.7 24.6 155. 8 29.0 23.9 32.3 55.2 | 642.6 > Revised. BANKERS' ACCEPTANCES AND COMMERCIAL PAPER OUTSTANDING [In millions of dollars] Total outstanding Bankers' acceptances x Commercial paper 2 End of month i- 1925 1926 1927 1928 1925 1926 1927 1928 1925 1926 ! 1927 1928 January i 1,655 1,442 1,325 1.635 835 788 774 1,058 820 654 551 677 February ' 1,628 1,422 1,362 1,623 767 785 1,056 820 655 577 567 March _.: 1,613 1,414 1,415 1,655 800 746 809 1,085 813 606 570 April ! 1,558 1,384 1,410 1.642 757 721 811 1,071 801 599 571 May j 1,456 1,353 1,357 1,582 685 775 1,041 776 668 582 641 June ; 1,367 1,274 1,330 1,529 622 751 1,026 759 652 579 503 July I 1,296 1,255 1,310 1,461 569 600 741 978 727 655 669 483 August ! 1,277 1,221 1,373 1,410 555 583 782 952 722 638 591 458 September j 1,315 1,226 1,464 1,434 607 614 864 1,004 708 612 600 430 October | 1,358 1,275 1,586 1.550 674 682 975 1,123 611 427 November I 1,356 1,292 1,632 1,621 690 726 1,029 1,200 603 421 December i 1,395 1,281 1,636 774 765 1,081 621 526 555 1 Figures collected and compiled by American Acceptance Council. 2 Paper maturing within 7 months. Figures reported by about 25 dealers to the Federal Reserve Bank of New York. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

17 JANUARY, 1929 FEDERAL RESERVE BULLETIN BROKERS' LOANS BROKERS' BORROWINGS ON COLLATERAL, IN NEW YORK CITY, REPORTED BY THE NEW YORK STOCK EXCHANGE [Net borrowings. In millions of dollars] On demand and on time On demand On time From From From Date Total N b tr a e u p n F w s a k t r n s o c Y i m e o a o s m n r d k - a b b p g b f r a o r e a o n r i n n e k v k c k i e a i g i s n r t e n e s , g s , , Total 1 i '• • N b a e t p n r w F a u k n r s s o Y i t e m a c o s n o r d k m- a b b p g b f r a o r e a o n r i n n k e v k c i k e a g i i s r n t e n e , s g s , , Total | N b tr a e u p n F w s a k r t n o s c Y i m o a e o s m n r d k - a b b p f g b a r o r e a o n r i n n e k v k c i k e a i g i r s n t e n e s , g s , , etc. etc. etc. 1926—Nov. 30—. 3,129 2,636 493 2,330 1,932 397 800 i 704 95 Dec. 31.__. 3,293 2,804 2, 542 !i 2, 128 414 751 • 676 75.6 1627—Jan. 31..... 3,139 2,671 2,328 I 1,964 365 810 707 103.9 Feb. 28.... 3,256 2,758 499 2, 475 i 2,085 391 781 673 108.4 Mar. 31—. 3,290 2,791 500 2,505 ! 2,112 393 785 67< 106.6 Apr. 30.._ 3,341 2,865 476 2,541 1 2. 146 395 800 71b 81.4 May 31... 3,458 2,967 490 2,674 2, 254 420 784 71!l 70.5 June 30. _ . 3,065 504 2,757 2,316 441 812 749 63.o July 30..., 3,642 3,145 497 2,765 2,343 421 877 802 75.5 Aug. 31... 3,674 3,170 504 2,746 2,330 415 928 840 88.8 Sept. 30— 3,915 3,340 575 3,018 2,539 479 897 801 95.8 Oct. 31... 3,946 3,363 583 3,023 I 2,549 475 923 814 108.5 Nov. 30— 4,092 3,519 573 3,134 2,675 459 958 844 113.4 Dec. 31... 4,433 3,812 621 3,481 2 963 518 952 849 103.4 1928— F J e a b n . . 3 2 1 9 — .... 4 4 , , 3 4 2 2 3 0 3 3 , , 8 73 0 7 5 6 5 1 8 5 5 3 3, , 2 3 9 9 4 3 2 2 , fS 8 S 0 2 7 4 5 8 1 8 1 1 1 , ,0 0 2 2 7 8 9 9 2 31 3 1 9 0 7 4 . . 7 2 Mar. 31— 4,640 3,947 693 3,580 3,016 564 1,060 931 128.8 Apr. 30 4,908 4,246 662 3,739 3,201 537 1,169 1,045 124.2 May 31.... 5,274 4,568 707 4,070 3,455 616 1,204 1, 113 90.8 June 30 4,898 4,169 730 3,742 3,122 619 1,157 1,046 110.3 July 31_._. 4,837 4,150 687 3,768 3,183 585 : 1,070 967 102.5 Aug. 31.... 5,051 4,260 791 4,094 3,420 674 958 840 117.3 Sept. 29... 5,514 4,647 866 4,690 3,939 751 824 709 115.6 Oct.31._.. 5,880 4,994 886 5,116 4,360 756 764 634 129.9 Nov. 30___. 6,392 5,412 979 5,614 4,771 843 i 777 641 136.1 Dec. 31.... 6,440 5,401 1,039 5,722 4,810 913 717 • 591 126.2 LOANS TO BROKERS AND DEALERS IN SECURITIES MADE BY REPORTING MEMBER BANKS IN NEW YORK CITY [In millions of dollars. Monthly data are averages of weekly figures] Demand and time loans Demand loans Time loans I For ac- For ac- For ac- Month or date count of For ac- count of For ac- count of For ac- Total r or own out-of- count of Total .ror own out-of- count of Total r or own out-of- count of account town others account town others account town others banks banks banks 1926—No vember... 2.615 819 1,048 748 1.911 520 728 663 704 208 320 85.4 December 2.698 1 887 1,045 766 2,012 596 737 679 686 201 308 87.0 1927—January 2,778 933 1,104 741 2,094 639 799 656 685 205 305 84.8 February 2,733 841 1,127 765 2,069 i 548 843 678 664 293 284 87.1 March. 2,816 901 1,091 824 2,154 615 805 734 661 285 286 89.9 April 2,866 929 1.131 806 2, 190 642 830 718 677 287 301 88.4 May. 2.933 I 936 1. 191 805 2.219 639 861 719 714 207 330 86.4 June. . 3.116 i 1,077 1,180 858 2,386 772 861 762 730 | 306 328 06.8 July a. J96 1,032 1,188 877 2,336 705 857 774 760 I 327 330 102.9 August C181 1,048 1,225 908 2,360 726 840 701 816 ! 322 376 116. 4 September... 3.261 1,061 1,285 016 2,463 777 891 706 790 I 284 304 120.5 October 3,302 1,103 1,326 062 2,603 820 042 841 780 1 283 385 121.4 November 3,441 1,175 1,276 900 2,632 870 002 851 800 1 206 374 138.7 December 3,621 j 1,282 1,354 985 2,782 948 081 853 830 1 334 373 132.3 1028—January 3,802 ! 1,342 1,470 090 2,938 092 1,083 863 863 1 350 387 126.8 February 3,784 j 1. 167 1,500 1, 117 2,871 820 1,084 067 913 j 347 416 160.0 March 3,761 | 1,064 1,450 1,247 2,861 741 1,036 1,084 900 323 414 162 9 April 4,062 1,193 1,617 1,252 3. 122 843 1,204 1,076 040 350 413 177.3 May 4,414 1 1,272 1,628 1,514 3,368 885 1,198 1,285 1,046 386 431 229.1 June . 4,360 ; 1,048 1, 568 1,744 3,309 687 1,143 1,479 1,051 1 361 425 265.2 July 4,232 i 929 1,543 1,760 3,207 614 1,136 1,456 1,025 315 407 303.2 August 4,239 I 835 1^522 1,881 3,359 590 1, 178 1, 591 880 245 344 290.2 September... 4,417 i 887 1,607 1,924 3,684 675 1,332 1, 677 733 212 276 246.1 October 4,701 i 933 1,720 2,048 4,075 744 1,507 1,825 625 189 I 213 223.3 November 5,102 i 1,105 1,749 2,248 4,483 895 1,559 2,030 618 i 210 ' 190 218.0 December 5,193 1,114 1,760 2,319 4,623 901 1,586 2,136 570 ! 213 174 182.9 Dec. 7 5,395 1,271 1,838 2,285 4,804 1,054 1,660 2,089 591 217 i 178 196.1 Dec. 12 . 5,176 1,045 1,794 2,337 4,601 825 1,621 2,154 575 220 I 173 182.1 Dec. 19 5,111 1 1,030 1,750 2,331 4,551 820 1,576 2. 155 560 210 ! 174 176.2 Dec. 26 5,091 1,109 1, 660 2,322 4, 538 904 1,488 2,145 554 205 i 172 177.0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

18 FEDERAL RESERVE BULLETIN JANUARY, 1929 COMMODITY PRICES, SECURITY PRICES, AND SECURITY ISSUES WHOLESALE PRICES, BY COMMODITY GROUPS 1 (1926-100] Month m Al o l d c i o ti m es - pr F o a d r u m cts Foods i , p l r H e o a a i d n t d h u d e e c s r ts p T ro e d xt u i c le ts F li u g e h l t i a n n g d p M r m o a e e d n t t u d a a c l l s ts m Bu at il e d r i i n al g s c C a d l h r s e u m a g n s i- d in f H u g r o n g u o i s s o e h d - - s l M an i e sc o e u l s - i : c N c o u o m i l n t t i u m a e g r s o a r d i l - - 1927—September... 96.6 105.9 96.5 112.5 98.5 84.2 97.6 92.1 96.4 98.6 89.2 94.0 October _ _ _ 97.0 105.0 100.0 113.0 98.4 83.8 97.1 91.6 97.1 98.5 88.3 94.8 November. _, 96.7 104.3 101.5 114.3 97.5 82.9 97.0 90.2 97.4 98.9 88.3 94.6 December 96.8 104.4 100.7 116.9 97.2 82.5 98.4 90.4 97.2 98.8 89.0 94.8 96.3 106.1 98.5 121.0 96.7 80.8 98.1 90.8 96.3 98.6 89.0 93.7 February 96.4 104.6 98.7 ; 124.1 96.6 81.2 98.3 91.0 95.8 98.4 87.3 94.2 March 96.0 103.5 98.0 124.0 96.5 80.8 98.4 91.0 95.6 98.3 86.8 94.0 April 97.4 107.6 99.5 126.7 96.6 80.8 98.4 92.5 95.8 97.9 84.9 94.7 May . .- 98.6 109.8 101.2 126. 3 96.6 81.8 98.6 93.5 95.3 97.8 85.1 95.6 June 97.6 106.7 100.3 123.7 96.3 82.1 98.7 93.9 94.9 97.0 82.2 95.2 July 98.3 107.1 102.3 124.2 96.8 82.8 98.6 94.4 94.5 96.9 80.8 95.9 August—. . 98.9 107.0 104.1 121.0 96.3 84.6 100.4 94.6 94.7 97.2 79.3 96.7 September.. 100.1 108.8 106.9 120.7 95.6 85.1 100. 5 94.7 95.1 97.2 79.7 j 97.8 October.. 97.8 103.5 102.3 117.5 96.1 84.9 101.0 95.0 95.6 96.5 80.3 96.4 November... 96.7 101.6 100.1 115.5 96.1 84.4 101.7 96.0 96.0 96.4 80.0 ! 95.4 I » New index of Bureau of Labor Statistics. PRICES OF FARM PRODUCTS AT THE FARM > SECURITY PRICES August, 1909-July, 1914-100] Common stocks » (1926=100) ' Bonds: oc Average Month 3 m 0 it c o ie o d s m - ' Grains t F v a a e r b n g u l d e e i t - s 1 - , I . a M nim ea a t ls p D p o u a r a u n c o i l t d r d t s r y - y c C o s a o t e n t t e o t d d o n n - c f l U a ie n s d s - i- 19 M 27 o — nth S e o p r t e w m e b e e k r.. co s m t 3 o 1 b 9 c 2 2 i k n 7 s . e 7 d i t n r 3 d i 1 2 a u 2 4 l 8 s s . - 9 33 1 r 2 a 5 il . s 2 u p ti u l 6 i b i b 2 t l i i 4 e c s .i: 4 p 0 r i i c s 9 e s 8 u o . e 0 f s 0 October i 126.7 127.5 124.3 124.5 98.62 November., i 129.6 131.3 124.9 125.6 98.98 S O e c p to t 1 e b 9 m e 2 r b 7 er . 1 1 4 3 0 9 1 1 3 2 4 8 1 1 4 3 5 8 ! 1 1 4 4 5 2 1 14 3 6 7 1 1 7 6 9 9 8 8 7 3 1928— D M F J e a e a b n c r u r e c u a m h r a y b r y e r..-1 ' ' ' 1 1 1 13 3 3 3 7 4 3 2 . . . . 9 4 1 3 1 1 1 1 4 3 3 3 7 1 4 5 . . . . 4 5 1 8 1 1 1 1 2 2 2 2 5 1 5 6 . . . . 9 6 3 8 1 1 1 1 3 3 2 2 4 0 7 9 . . . . 4 9 2 5 9 9 9 9 9 9 9 9 . . . . 2 2 3 3 5 0 5 1 November- 137 120 136 ' 141 153 162 86 April ! 145.9 149.5 130.7 142.5 99.18 December.. 137 123 141 i 138 158 153 90 May ! 152.1 154.9 133.2 155.3 98.79 1928 i J J u u l n y e I i 1 14 4 4 5 . . 2 3 1 1 4 4 8 7 . . 2 8 1 1 2 2 6 4 . . 7 6 1 14 4 5 8 . . 3 1 9 9 6 7 . . 5 3 6 8 January 137 125 144 ! 138 154 152 91 August j 148.3 152.6 126.5 147.9 95.82 February... 135 128 153 139 144 141 90 September..! 156.1 161.6 129.7 155.2 96.47 March 137 136 174 139 137 147 89 October i 159.1 166.2 128.2 154.5 96.58 M A Ju p a n r y e i l . 1 1 1 4 4 4 8 5 0 1 1 1 5 6 4 2 0 4 1 1 1 8 6 7 1 8 9 ; ' 1 1 1 5 4 5 0 2 1 1 1 1 3 3 3 4 4 2 1 1 1 5 6 6 4 6 2 8 8 8 6 7 5 Week N D en e o d c v i e n e m g m — b b e e r— r.. ! ' j 1 1 6 7 9 2 . . 2 9 1 1 7 80 7 . . 0 1 1 1 3 3 3 5 . . 7 9 | | 1 1 6 7 5 4 . . 7 5 9 9 6 6 . .2 9 4 0 J A u u ly gust 1 1 4 3 5 9 1 12 4 0 2 1 13 5 7 6 • i 1 16 5 2 7 1 1 3 3 4 6 1 15 7 3 0 8 8 8 7 D D e e c c . . 8 1 1 1 7 6 8 6 . . 9 3 1 1 7 86 2 . . 4 5 1 1 3 3 9 2 . . 7 5 j l 1 1 8 6 0 8 . . 5 2 9 96 6 . . 3 6 7 8 September- 141 117 127 i 174 145 142 85 Dec. 15 168.5 174.9 134.4 i 170.5 96.06 October 137 116 114 160 150 147 83 Dec. 22 173.0 180.5 136.0 ! 173.7 96.04 November. 134 110 109 ' 150 155 146 86 Dec. 29 177.7 185.5 136.8 180.6 96.07 December.. 134 112 108 : 143 159 148 90 i 1 Index of common stock market values (revised series) computed by 1 Index numbers of Department of Agriculture. Standard Statistics Co. from closing prices on Friday. FOREIGN CAPITAL ISSUES DOMESTIC CAPITAL ISSUES [In millions of dollars] [In millions of dollars] January-November January-November November, Class of issue 1928 Class of issue 1928 1927 Re- Re- | Re- New fund- i New fund- New j funding I I ing • ing Total. Total 827. 3! 57. 3J5, 677. 2:1,513.6 5,483.61,704. 7 New issue Europe Corporate issues 645. 0 56. 3 4, 397. 7,1,492.1 4,084.11,586. 5 Canada and Newfound- F M a B S u rm t n o o n i c - c d L S l k i o p s h o s a a o n n a l r g n t - - i i d t s t s e e s s r r u u n m m e e o s s _ t _ _ . e _ _ s- _ 2 3 2 3 8 0 8 6 . . . 1 5 4 , ' i 4 8 1 1 6 . . . . 6 5 2 0 i , ! 1 ' 1 2 , , , 2 9 2 1 2 6 5 5 8 " 3 2 1 5 3 . . . . . 6 4 9 7 6 " ! ' | 9 4 8 4 6 2 1 9 1 1 . . . 0 . 2 9 5 ^ 1 ! 1 2 , , , 2 3 6 2 3 8 1 4 0 6 6 7 2 0 . . . . . 2 3 7 6 9 . 1,2 2 7 8 9 2 2 7 2 2 5 6 . . . . . 8 3 4 7 5 Refu L U M n a n d l p i a t s i i o i n t c n n s e e d g s d l e A l s a i m s s n i s e o S e u o n r t e i a u s c s t s a e .. s insular Total new and re- Total Government and funding __ 884.6 7,190. 8 7,188.4 corporate { 68.7 1, 528.1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

19 JANUARY, 1929 FEDERAL RESERVE BULLETIN PRODUCTION, EMPLOYMENT, AND TRADE [Index numbers of the Federal Reserve Board] Building contracts Wholesale dis- Department- Department- Year and month p I r t n t i o r o d d i n a u u l s c i - - P t t m u i r o o f r a a n e d n c s u u - o c l - f - P t m i r a o o i l n n d s e u o r i c - f - e F m a m c p e t l o n o r t y y - Fa r p c o a t l o l y s ry Un a a w d- arded A 1 d- F i l r n o c e g a a i s d g r - h » t ! i Una tr d i - b u ! tio A n d- ! Un s a t d o - r e ! s ale A s d 1 - U s n to ad re - stock A s d * justed justed ! justed | justed j justed ! justed justed justed Mo. av. 1923-1925«100 Mo. av. 1919-100 Monthly average 1923-1925-100 ANNUAL INDEX i 1919__ 83 84 | 77 I 100 100 64 I 84 110 ,. 78 j.. 79 I. 1920.- 87 87 i 89 103 124 63 j 91 114 L. 94 . 105 L 1921- 67 67 i 70 82 84 57 I. 79 87 L. 87 .. 89 i. 1922 85 87 i 74 90 89 81 ! 86 89 I. 88 L. 88 L. 1 1 9 9 2 2 3 4 1 9 0 5 1 1 9 01 4 i i 1 9 0 6 5 1 9 0 5 4 1 1 1 0 3 4 8 9 4 5 I i 1 9 0 8 0 1 9 0 8 1 L i . . 9 9 9 8 I L . . i 9 o 8 i | L _ 1925. 104 105 | 99 95 107 122 I 103 101 . 103 I. 101 . 1926__ ! 108 108 i 107 I 96 109 j 129 107 98 !.. 106 i. 103 j. 1927 ..I 106 106 I 107 I 92 105 | 128 103 95 '. 106 i. 102 L MONTHLY INDEX I j 1924 i i J A u u ly g ust ! 8 8 9 3 8 8 8 2 ; l 9 9 2 2 8 89 9 ! I 9 9 2 6 8 89 7 I i 8 8 4 5 ; ! 9 9 2 5 1 8 0 6 5 ! I 9 9 3 5 7 7 4 2 ! | 9 95 6 I I 9 9 3 6 1 1 0 0 0 0 September 94 93; 97 91 ! 99 87 90 99 118 i 101 93 100 I 105 101 October-- 94 95 89 I 93 I 103 'SI 100 99 118 j 99 111 i 95 I 111 101 November 97 97 i 96 ! 92 ! 101 103 ! 99 97 i 99 111 ! 101 i 113 100 101 101 I 100 i 94 ! 106 94 ! 100 88 J ! 101 168 i loo i 94 100 1925 ! | I S3, January 105 ! 106 I 104 94 I 103 75 ! 101 103 93 ! 102 86 98 90 102 February 105 ; 106 ; 100 96 j 109 76 ! 104 103 97 101 so 103 ! 96 101 M J M J S A N A D O u u e u o e p c a a l n p c y g v t y r r e t o e c i u e e l m h b m s m , t e . 1 b - b b r 9 e e . e 2 - r r r 6 _ i ; j j | 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 6 4 3 5 2 3 3 8 3 2 I ! I 1 1 1 1 1 1 1 1 1 1T 0 0 0 1 0 0 0 0 0 ) 3 6 3 0 2 9 2 3 4 7 | I i i ' i I i ' , 1 1 1 1 9 9 9 9 9 9 0 0 0 0 4 8 6 0 1 3 4 1 4 8 j 9 9 9 9 9 9 9 9 9 9 6 4 4 6 5 3 5 7 7 7 ! ! I ! I ' j i ; 1 1 1 1 1 1 1 1 1 1 1 1 0 1 0 0 0 0 0 1 1 0 7 2 5 5 4 7 2 2 j I 1 1 1 1 1 1 1 1 1 1 1 2 3 2 2 3 2 3 4 3 6 0 8 4 9 8 9 3 9 7 ! ! I 1 1 1 1 1 1 1 1 1 1 0 1 1 2 3 2 3 2 2 3 7 2 5 9 8 5 5 8 7 5 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 4 5 1 0 5 2 4 5 0 1 1 1 1 9 9 9 9 9 8 0 2 1 1 4 8 0 1 9 9 9 4 3 7 • ! | | j | ; ! 1 1 1 1 1 1 1 1 9 9 0 0 0 0 0 0 0 0 9 8 0 0 0 1 0 5 2 0 1 1 1 1 1 9 9 9 7 7 0 0 2 1 7 5 9 5 5 8 6 0 9 4 8 2 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 2 3 1 0 0 2 6 0 4 I I j i ! ] 1 1 1 1 1 9 9 9 0 9 0 1 0 0 1 7 8 4 7 6 4 1 2 6 5 i I , i ! 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 2 3 0 2 2 January 109 ! 92 I 96 i 107 | 111 146 102 94 | 102 ; 89 ! 106 ' 93 105 February 107 108 i 96 j 97 ; 112 i 106 145 104 97 101 ! 81 ! 105 ! 98 103 March 107 ' 108 ; 106 i 97 , 113 i 140 128 105 107 ! 100 102 i 101 107 104 April 107 107 i 106 ! 96 . 110 139 120 107 94 ! 97 103 i 103 107 103 May 106 ; 107 ' 104 96 109 134 125 108 91 i 99 107 i 107 103 101 June 107 j 107 ! 106 ' 95 ' 109 133 125 109 91 i 99 101 ; 102 98 101 July... 107 107 : 107 i 93 i 104 ! 126 124 108 91 i 97 78 j 104 94 101 August 111 111 i 109 i 94 ; 108 j 148 131 ; 108 107 i 97 83 107 97 101 September 112 : 112 I 111 j 96 | 108 | 137 130 ! 109 117 j 100 i 101 109 107 103 October Ill 110 j 115 96 : 112 i 126 126 j 109 111 ! 94 i 124 i 110 114 103 November 108 , 106 ' 118 i 95 ; 109 I 119 130 I 108 97 ! 98 121 106 117 104 December 105 103 j 119 j 94 i 108 I 131 136 j 106 84 ; 95 ! 184 ; 110 96 102 1927 I January 107 ! 105 ! 116 j 92 ! 102 94 123 105 86 ! 94 89 I 106 92 103 February. _. 109 107 j 118 | 94 ! 109 96 131 109 91 95 83 ! 107 97 102 March 111 110 118 ! 94 , 110 151 131 109 103 i 96 100 : 105 106 103 April 108 i 109 ; 104 '' 93 , 108 147 128 108 90 , 93 111 ! 105 106 102 May 111 i 111 | 108 i 93 108 135 126 107 88 95 102 i 103 103 101 June 108 i 108 I 104 I 92 ' 100 154 144 I 104 87 : 93 101 ! 103 97 100 J A u u ly gust 1 10 0 7 6 : : 1 1 0 0 6 7 I i 1 1 0 0 6 0 ; i 9 9 1 1 ! i 1 1 0 0 1 4 1 13 3 5 0 1 11 2 9 8 ! | 1 1 0 0 1 4 1 8 1 8 1 1 9 0 5 0 ( ! 8 7 9 5 ! | 1 1 1 0 1 4 9 9 7 4 1 1 0 0 1 1 September- 105 ' 105 105; 92 ! 104 127 121 ! 104 112 96 | 100 i 108 107 103 October 103 102 105 ! 92 i 105 137 137 i 101 106 91 j 119 ! 106 113 ; 103 N D o ec v e e m m b b e e r r . . . . 9 9 9 9 , i 9 9 8 9 i 1 10 0 3 1 ! ; 9890 ji 1 10 0 1 2 1 11 1 6 4 1 1 2 2 1 5 ; ' 9 9 4 6 I ! 8 9 2 3 9 9 3 5 [ 1 18 2 6 2 i | 1 1 1 0 1 7 1 9 1 6 6 1 1 0 0 3 2 1928 ! i 94 I ! l J F M a e n a b r u r c a u h r a y ry... 1 1 1 0 0 0 9 6 9 • i 1 n 11 0 o 6 0 ; ' ! 1 1 1 0 0 0 3 5 3 ! ' 8 9 8 8 0 9 ; ! i 1 1 9 0 0 8 4 5 1 1 1 4 1 0 4 3 4 1 1 1 5 2 3 5 5 7 ' I i < 1 1 1 0 0 0 3 0 2 ! j i 8 9 99 3 7 9 9 7 3 1 8 8 0 8 5 3 ! | ' 1 1 0 0 5 5 | 1 9 9 0 7 1 3 ; - 1 1 1 0 0 0 2 2 0 April 109 110 : 103 ' 89 : 103 157 136; 104 i 86 89 | 102 104 j 104 100 J M un ay e 1 1 0 0 9 8 n n o o 1 9 0 9 5 ! i 8 9 9 0 i i 1 1 0 0 4 4 1 1 5 6 8 3 1 1 4 5 8 2 ! I 1 1 0 0 2 6 ! j 8 8 9 4 . 9 89 6 j 1 1 0 0 7 4 : [ 1 1 0 0 4 5 ! | 1 9 0 5 1 9 9 9 8 July 109: in • 101 ' 88 I 100 142 139 ! 102 ! 87 93 ! 78 108 92 99 August 112 ; 113 105 i 90 ! 104 126 Ill i 104 I 109 98 | 85 106 96 100 September- 114 116 108 : 91 ! 105 143 136 | 106 I 109 94 j 106 120 101 98 October 114 . 114 114 ' 92 ! 109 145 145 | 100 111 95 j 123 105 110 100 November.. 112 111 113 I 92 j 106 115 126 i 103 i 95 97 i 122 107 113 100 1 1 The indexes of production and car loadings are adjusted to allow for seasonal variation; the indexes of building contracts wholesale distributim, and department-store sales and stocks are shown both with and without seasonal adjustments. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

20 FEDERAL RESERVE BULLETIN JANUARY, 1929 INDUSTRIAL PRODUCTION INDEX OF INDUSTRIAL PRODUCTION PRODUCTION OF [Index numbers, adjusted for seasonal variations MANUFACTURES AND MINERALS 1923-1925 average—100] Month 1922 1923 1924 1925 1926 1927 1928 January 73 100 100 105 106 107 106 February . _ _ 76 100 102 105 107 109 109 March 80 103 100 104 107 111 109 April 77 107 95 103 107 109 109 May 81 107 89 103 106 111 109 June 86 105 85 102 107 108 108 July... 86 103 83 103 107 106 109 A Se u p g t u e s m t ber _ 8 8 4 8 1 10 0 0 2 8 9 9 4 1 1 0 0 2 3 1 11 1 2 1 1 1 0 0 7 5 1 11 12 4 80 October 94 99 94 105 111 103 114 November.. 97 97 97 106 108 99 112 December 100 98 101 108 105 99 Annual index 85 101 95 104 108 106 60 192A- 1925 1926 1927 1928 INDEX OF PRODUCTION OF MANUFACTURES. BY GROUPS Year and month Total s I a t r n e o d e n l Textiles p F u r o c o o t d s d - p P r a i a n n p d t e in r g Lumber m A o u b t i o le - s ; I L s e a h a n o t d e h s er a C n b d e r m i g c e l k a n , s t s , f m e N r e r o t o a n u l - s s re P l f e e i u n tr m i o n - g Ru ti b r b e e s r T f m a o a c b t n a u u c r - e c s o 1927 July._ 107 103 118 96 114 113 111 106 136 124 109 August 107 102 119 97 112 112 115 108 136 119 119 September 106 ! 118 93 113 113 113 107 139 113 123 October 102 I 113 94 112 108 108 106 142 116 121 November 99 i 112 94 110 97 107 106 140 117 122 December 105 95 113 105 111 137 110 113 1928 January 106 110 106 102 116 92 I 111 101 135 124 118 February 110 115 107 110 117 103 | 103 115 *109 139 139 118 March 110 114 106 105 118 114 j 102 109 107 141 135 119 April 110 125 101 97 119 110 j 97 108 110 147 131 119 May 110 117 107 96 121 108 I 96 113 111 150 134 120 June... 110 112 109 93 117 119 i 107 112 115 153 145 126 July _.. 111 121 100 89 117 120 ! 112 117 112 155 155 125 August 113 121 109 91 117 133 I 112 124 116 160 154 131 September.. . 116 127 108 97 118 139 i 111 126 118 162 165 129 October 114 125 *111 *100 *116 119 ! *105 119 120 160 166 127 November... 111 119 114 103 119 90 i 96 118 126 159 150 125 * Revised. INDEX OF PRODUCTION OF MINERALS, BY PRODUCTS Year and month Tl olt al i !| n B ou it s u m co i a - l Ant c h o r a a l cite C t r r u o d le e u m pe- sh I i r p o m n- e o n re ts Copper Zinc Lead Silver |j 1927 July 100 i! 87 74 124 99 101 109 116 94 August . . 106 •'• 92 106 123 99 101 114 112 94 September 104 i: 92 99 124 87 104 111 111 90 October. 105 !! 90 106 124 95 102 110 105 91 November. 101 !! 85 105 124 49 106 107 110 100 December 103 :: 87 91 124 105 109 109 95 i! 1928 January. . 103 ii 92 88 121 102 104 103 93 February. 103 i! 94 88 119 104 107 109 83 March 105 j! 99 79 121 102 112 109 94 April 103 !l 87 109 119 103 114 100 89 May . 105 1. 93 114 119 80 110 113 101 85 June 99 jl 89 74 117 107 110 117 99 93 July 101 ; 94 66 119 103 113 117 97 76 August.. _ . 105 ', 91 95 123 105 116 121 107 87 September 108 ! 94 95 125 109 121 114 115 79 October 114 i' 99 119 128 115 128 110 MS *79 November 113 j! 98 115 127 105 133 110 114 91 NOTE.—These tables contain, for certain months, index numbers of industrial production, together with group indexes for important components. The combined index of industrial production is computed from figures for 60 statistical series, 52 of manufactures, and 8 of minerals. Adjustments have been made in the different industries for the varying number of working days in each month and for customary seasonal variations, and the individual products and industries have been weighted in accordance with their relative importance. The sources of data and methods of construction were described and monthly indexes for the above groups were published in the BULLETIN for February and March, 1927. •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 21 PRODUCTION OF MANUFACTURES, BY INDIVIDUAL LINES Novem- October, Novem- Novem- October, November, 1928 , 1928 ber, 1927 ber, 1928 1928 ber, 1927 Iron and steel: Leather and products: Pig iron. | 112 j 111 90 Leather, tanning- Steel ingots i 119; 127 88 I Sole leather l *101 93 Textiles: I Upper leather- Cotton consumption I 115 114 118 Cattle 70 Wool— ! Calf and kip.. 77 103 j 108 Consumption ! 90 | Goat and kid_. 122 *129 : 126 Machinery activity » _ | 97 ! 92 l| Boots and shoes 100 107 | 97 Carpet and rug loom activity L. j 93 ! 91,; Stone, clay, and glass: Silk— j Cement 116 117 i 111 Deliveries \ 141 137 139 i Face brick 94 j 114 j 105 Loom activity l I 119 128 112 : Plate glass 134 j 123 ; 104 Food products: ! Nonferrous metals: Slaughtering and meat packing— i Copper.. 136 | 128 ! 106 Hogs _. _ ! 96 80 114 i *ios ; 110 Cattle. ; 86 100 Zinc— 110 | no ! 107 Calves _._ ! 95 91 104 Tin* 117 : 115 . 100 Sheep _ i 129 130 110 Chemicals and allied products: Flour ; 98 97 Petroleum refining— Sugar meltings __! 129 108 Gasoline l 186 i 160 Paper and printing: Kerosene 94 99 : 93 Wood pulp and paper— Fuel oil i 134 135 ! 123 Newsprint _ j 100 93 94 Lubricating oil i 119 124 ' 107 Book paper _ __! 123 124 108 Coke production- Fine paper ! 119 113 113 By-product - 331 134 : 111 Wrapping paper j 102 104 i 105 Beehive 37 39 ! 35 Paper board. ! 128 118 I 113 Rubber tires and tubes: Wood pulp, mechanical I 105 98 97 Tires, pneumatic 157 *174 ! 122 Wood pulp, chemical _ _.j 107 109 105 Inner tubes -- 110 ! 79 Paper boxes __ | 131 127 114 Tobacco products: Newsprint consumption.. j 127 ! 120 Cigars.. - 107 j 103 Lumber: j Cigarettes. 148 147 j 140 Lumber, cut _ _; 77 97 Manufactured tobacco and snuff 92 93 ! Flooring j 119 119 91 Transportation equipment: ! Automobiles • *119 47 Locomotives ._ . I 24 33 Shipbuilding... I 39 176 1 Without seasonal adjustment. *Revised. FACTORY EMPLOYMENT AND PAY ROLLS [Index numbers without seasonal adjustment. Monthly average, 1919=100] Metals and products Textiles and products L b u e m r - Rail- Paper Foods Leather Stone, To- C i h ca e l m s - Month Total Group s I a t r n e o e d n l Group Fabrics P u r c o t d s - p u a r n c o t d d s - v r c o e l a h e d s i- m A o u b t i o le - s p a r in n in g d t- p u a r c n o t d d s - p u a r c n o t d d s - c g a l l n a a d s y s , b p u a r c o c t c d s o - p u a r n c o d t d s - Employment: 1927—October... 91.7 84.5 84.0 94.5 97.0 91.4 92.5 75.5 109.9 108.6 89.2 86.5 116.2 85.3 77.8 November. 90.2 82.8 82.3 94.2 97.2 90.3 91.3 73.4 100.7 109.7 87.7 81.5 114.7 84.6 78.5 December. 89.1 81.9 81.4 93.6 96.4 89.9 88.2 72.0 105.0 110.1 86.7 79.8 109.0 80.3 77.2 1928—January... 87.9 80.9 80.7 92.9 95.1 89.9 84.9 70.5 114.0 108.6 83.8 83.2 101.6 73.8 75.1 February.. 89.4 83.0 82.7 93.8 95.1 92.3 85.0 70.4 124.8 108.1 84.8 84.6 101.9 77.1 77.2 March 89.9 84.3 84.0 92.9 93.6 92.0 86.0 71.3 130.2 107.0 84.4 84.1 105.7 77.9 76.9 April 89.3 84.6 84.2 90.0 91.0 88.7 87.0 72.0 133.6 105.9 82.8 79.8 109.1 76.0 76.7 May. 89.5 85.3 84.9 87 8 88.9 86. 3 87.0 72 5 141. 2 106. 3 83 0 77.7 113.8 76.8 74.5 June 89.6 85.5 85.0 87.4 88.6 85.9 87.7 72! 7 14L1 106.1 84! 2 77.6 114.9 77.5 75.1 July 88.5 84. 7 84. 6 84.5 86.2 82. 2 86.7 71. 7 141.0 106.1 84.4 81.2 112.8 73.4 73.9 August 90.0 86.0 86.0 85.3 86.3 84.1 89.1 71.6 149. 9 106.3 83.9 82.9 115.7 79.0 73.9 September 91.2 87.2 87.2 86.8 87.0 86.6 89.6 71.2 154.2 106.7 86.8 83.1 114.6 80.6 77.0 October.. 92.0 88.2 88.2 89.4 90.8 87.6 89.5 70.6 152.1 108.1 88.7 81.8 112.1 82.6 78.4 November 91.6 89.2 89.1 90.2 92.9 86.8 89.7 70.5 138.4 109.5 88.3 77.1 109.3 82.4 79.1 Pay rolls: 1927-October... 105.1 89.0 88.2 106.9 108.9 104.3 109.0 83.6 133.6 151.0 104.8 88.5 145.0 91.3 110.0 November. 101.0 86.0 85.2 101.6 104.5 98.1 106.3 82.2 117.6 149.0 103.0 76.8 140. 8 90.5 109.7 December. 101.9 87.5 86.6 103.6 106.1 100.6 103.1 80.2 127.8 152.7 102.2 77.8 133.6 87.0 112.4 1928—Januarv... 97.8 84.7 84.1 100.2 100.3 100.0 91.9 75.1 127.2 148.8 99.0 83.5 122.1 78.1 106.3 February.. 103.5 91.9 91.2 103.5 102.4 104.8 96.1 78.2 160.0 147.5 100.8 88.9 123.8 78.1 109.3 March 104.9 93.9 93.3 101.9 100. 3 103.9 98.1 80.4 168.9 147.7 100.4 87.5 128.7 79.4 110.2 April 102.6 92.9 92.2 94.7 95.5 93.8 98.3 81.2 171.8 146.7 96.5 75.3 134.6 73.8 108.8 May 103.7 i 95. 1 94.3 93.4 95.3 91.1 98.8 80.7 178.8 146.7 99.0 72.7 140.9 77.3 106.6 June. .. 103.6 94.5 93.7 93.5 94.2 92.6 99.9 81.3 169.5 146.7 101.3 76.3 141.3 82.5 106.1 July 100 1 90 0 89.3 88. 7 90.2 86.9 96.4 76 5 166.0 144.6 101 4 82.6 136. 1 78.1 103.4 August 103.9 94.1 93.3 91.7 91.4 92.0 100.3 77.0 184.9 144.5 100.1 88.0 143.3 81.6 104.0 September 105.0 94.3 93.5 94.4 93.3 95.7 102.6 75.7 185.8 146.8 103.4 87.2 139.6 85.4 105.7 October..,. 109.3 99.6 98.7 100. 5 100.5 100.6 105.5 80.2 193.3 149.6 105.6 84.0 140.8 87.6 112. 3 November. 105.9 99.2 98.4 97.9 100.7 94.3 104.2 79.7 165.0 149.6 104.3 70.2 135.4 86.5 111.5 NOTE.—This table contains for certain months general index numbers of employment and pay rolls, together with group indexes for important industrial components. The general index is a weighted average of relatives for 34 individual industries. The method of construction was described in detail and indexes for the above groups since January, 1919, were published in the BULLETIN for May, 1925. See also p. 668 of BULLETIN for September, 1925, for certain revisions. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

22 FEDERAL RESERVE BULLETIN JANUARY, 1929 BUILDING BUILDING CONTRACTS AWARDED PERCENT [Index numbers based on value of contracts. Monthly average, 200 200 1923-1925-1001 Without seasonal With seasonal \ adjustment adjustment 150 k A 150 bh Month 926 1927 1928 y v January 75 Ill 94 104 101 146 123 137 100 nAJ u 100 February... 76 106 96 113 104 145 131 155 March 120 146 151 144 107 128 131 125 April 138 139 147 157 112 120 128 136 May 124 134 135 163 115 125 126 152 June 137 133 154 158 125 125 144 148 Eft 50 July 133 126 130 142 128 124 128 139 August 149 148 135 126 135 131 119 111 BUILDING CONTRACTS AWARDED N S O e o c p t v o t e e b m m er b b e e r r . . . . 1 1 1 2 1 3 9 6 8 1 1 1 2 1 3 6 9 7 1 1 1 1 3 2 4 7 7 1 1 1 1 4 4 5 5 3 1 1 1 2 3 2 9 5 7 1 1 1 3 3 2 0 0 6 1 1 1 3 2 2 7 5 1 1 1 1 2 3 4 6 6 5 •—• W W / i t t / h r o S u e t a A s d o ju o s a t J m 'A e d n j t ustment December.. 129 131 116 105 138 136 121 110 0 I 1924- 1925 1926 1927 1928 BUILDING CONTRACTS AWARDED, BY FEDERAL RESERVE DISTRICTS [Value of contracts in thousands of dollars] Federal Reserve District Month Total Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago St. Louis M ap in ol n i e s - K C an it s y as Dallas 1927 October 562,816 27,486 169,299 34,211 i 49,315 29,553 26,023 141,523 41,405 9,305 I 19,317 I 15,379 November.. 466,393 40,070 132,481 30,138 39,136 24, 811 39,151 84,182 27,793 7,138 ! 16,516 j 24,977 December... 477,364 29, 407 130,346 28,634 ' 35,275 37,285 24,816 126, 841 33,352 4,473 | 12,316 j 14, 619 1928 I January 427,169 33, 410 133,271 35,765 26,403 27,607 27,696 77,806 29,187 4,428 13,318 18, 278 February... 465,331 21,826 140,227 34,980 37,841 22,301 23,376 108,789 35,294 3,968 13,793 22,936 March 592, 567 39,694 155,154 46,317 ' 66,821 42,061 29,826 40,626 8,339 33,174 22,463 April 643,137 42,957 154,369 60,982 70,184 66, 591 24, 371 128,643 43, 818 10,249 20,658 20,315 May 668,097 56,097 188,687 49,743 , 63,813 39,421 32, 497 139,784 36,360 13,178 20,199 28,318 June 650,466 38,519 178,448 48,698 69,605 46, 227 28,600 128,607 44,225 11,042 28,070 28,426 July 583,432 34,456 139,821 41,259 56,103 32,884 31,996 140,689 50, 557 11,088 23,807 20, 771 August 516,970 36, 370 129, 524 33,967 50,408 30,172 28, 548 108, 306 40, 706 12,944 26,177 19, 847 September.. 587,674 69,918 156, 588 45,634 67, 748 39,843 25,989 99,176 33,241 9,213 22,611 17,715 October 597,104 39, 521 189, 696 46,098 57,118 40,329 36,097 110, 795 32,409 12,645 15,699 16, 697 November . 471,482 29,154 136,525 28,017 i 56, 684 33,621 I 18,550 99,429 27,302 7,896 13, 908 20, 397 BUILDING CONTRACTS AWARDED, BY TYPES OF BUILDING BUILDING PERMITS ISSUED, BY FEDERAL RESERVE [Value of contracts in thousands of dollars] DISTRICTS [Value of permits in thousands of dollars] Public Month d R en e t s i i a - l In tr d i u al s- m C e o r m ci - al p w u a o n b r d l k i s c E ti d o u n c a a l - o A th l e l r Number Novem- October, Novemutilities Federal reserve district of cities ber, 1928 1928 ber 1927 Octobe 1 r 9 . 2 .. 7 . 243,562 50,712 79,720 108,210 30,170 50, 442 United States. 168 207,603 235, 548 251, 643 N D o ec v e e m m b b e e r r . . 2 2 1 0 4 7, , 2 9 8 6 1 3 5 29 2 , , 9 8 8 9 9 0 4 86 3 , , 9 5 3 2 3 1 9 7 2 6 , , 6 08 5 9 7 3 2 1 3 , , 7 2 4 4 1 8 4 37 7 , , 2 1 5 8 6 9 B N o ew st on York.... 2 1 2 4 7 1 0 0 , ,3 1 7 6 7 1 7 1 2 0 , , 4 7 5 3 7 7 9 14 2 , , 4 0 9 6 5 4 1928 Philadelphia.. 14 12,971 11,384 11, 265 January 193,189 37, 970 68,852 72,039 23,369 31,750 Cleveland 12 11,418 16, 738 14,230 February.. 238,985 34,881 57,695 59,980 18,651 I55,139 March 275,192 48,804 |73, 075 110,338 33,881 i51, 277 Richmond 15 13, 266 8,278 9,033 April 276, 586 85,093 j82, 758 117,401 32,885 •48,413 Atlanta 15 5,450 I 8,370 7,850 May 288,826 37,146 i 91,200 150,223 47,851 j52,851 Chicago 19 39, 597 54,157 42, 983 June. 258,084 63,537 i93,942 130,852I 46,135 57,917 St. Louis 5 7,514 6,631 8,960 July 228,703 31,400 !95,697 137,075 36,926 53, 632 August 213,705 42,607 58,911 118,890 35,713 !47,144 Minneapolis.. 3,651 5,269 2,427 September. 202,807 114,780 60,068 119,014 38,801 ,52, 205 Kansas City.. 6,486 9,122 6,572 October.... 239,692 62, 259 67, 330 148, 697 31,293 !47,833 Dallas.. 7,844 6,681 6,507 November. 200,226 38, 665 68, 309 93, 228 30,023 ;41, 032 San Francisco. 25, 724 35, 256 NOTE.—Figures for building contracts awarded are for 37 States east of the Rocky Mountains, as reported by the F W. Dodge Corporation. Adjusted indexes by months from 1910 to date given in the BULLETIN for August, 1927, p. 563. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 23 TRADE AND DISTRIBUTION FREIGHT-CAR LOADINGS, BY LINES [Index numbers, adjusted for seasonal variations. 1923-1925=100] Mer- Month Total G p g u a r r r c n o a a t d i d i s n n - s L t i o v c e k - Coal ! F p u o r c r o t e d s s - t m 1 c l . d a a h i s n c n i a c s . d e n e e - 1 - l- . ous 1927—November 96 94 87 91 ! 87 102 December 94 94 82 93 1 82 99 1928—January 100 102 91 94 | 90 lOfr February 102 108 01 96 | 93 106 March.. 103 116 196 96 ! 89 108 April 104 109 89 99 ! 85 108 75 75 May 106 102 88 101 | 90 110 June. 102 89 86 90 ! 88 107 July 102 109 80 88 I 89 109 August 104 102 82 96 , 92 111 RAILROAD FREIGHT CAR LOADINGS September 106 109 93 102 ! 91 111 Adjusted for Seasonal Variations, 1923-25=100 October 106 106 92 102 j 92 111 November 103 106 82 104 • 90 106 50 1924 1925 1926 1927 1928 For description and early figures see p. 562 of August, 1927, BULLETIN. INDEX OF WHOLESALE DISTRIBUTION—NINE LINES OF TRADE [1923-1925 average-100] Sales with seasonal adjustment Sales without seasonal adjustment Month i 1923 1924 1925 I 1926 1927 1928 1923 1924 1925 1926 1927 1928 January 102 103 102 i 102 94 94 93 94 93 94 86 87 February ._ 100 102 101 101 95 97 96 98 97 97 91 93 March 104 94 100 100 96 93 114 102 109 107 103 99 April 100 99 100 ! 97 93 89 97 96 98 94 90 86 May 103 95 99 99 95 96 94 87 90 91 88 89 June 102 91 100 ' 99 93 89 92 82 91 91 87 84 July 101 93 102 97 95 93 92 86 94 91 88 87 August -_ -- _ . 103 95 101 97 100 98 115 105 113 107 111 109 September 99 101 100 100 96 94 115 118 117 117 112 109 October 103 99 105 ' 94 91 95 123 118 124 111 106 111 November 100 99 100 98 95 97 100 97 99 97 93 95 December 95 101 98 95 93 82 88 89 84 82 Annual average 101 98 101 98 95 SALES IN INDIVIDUAL LINES OF WHOLESALE TRADE With seasonal adjustment Without seasonal adjustment Month c G e r r o i - es Meatsjg 1 ?oSs M cl i o e n t n g h 's - W c e l i o n n o t g ' m s h- - B s a h o n o o d e t s s H w a a r r d e - Drugs n F it u u r r - e c G e r r o i - es Meats g D oo ry ds M cl i o n e t g n h 's - W c e l i o n n o t g ' m s h- - B s a h o n o o d e t s s H w a a r r d e - Drugs F tu n u i r - r e i 1927 October 90 109 | 86 81 54 91 94 111 99 102 122 99 101 87 114 105 128 118 November.. 94 105 ! 89 86 67 105 100 112 100 100 101 88 61 45 110 98 113 105 December. . 92 109 j 87 93 61 101 97 106 89 90 103 70 48 39 82 90 99 83 1928 1 January 93 106 i 89 99 70 115 92 108 89 85 106 85 76 65 94 82 106 78 February... 98 113 1 88 99 70 110 93 110 96 85 108 89 128 88 87 82 101 96 March 97 109 ! 83 94 55 96 91 110 95 95 105 87 131 89 111 95 121 107 April 93 112 J 78 77 57 94 87 111 87 88 105 70 75 53 99 89 113 88 Mav 99 109 1 86 96 62 113 94 117 92 96 109 75 57 35 114 97 110 87 June 94 112 79 76 49 82 92 110 94 97 114 71 39 21 77 95 103 83 July 91 111 80 79 83 123 91 107 95 92 113 74 68 46 98 90 102 78 August 100 116 90 90 68 109 95 117 106 101 118 110 148 92 119 115 108 September.. 92 122 84 89 62 90 92 112 112 100 130 105 137 88 110 100 119 126 October 95 111 85 99 62 87 97 116 110 107 124 99 123 100 108 108 134 131 November— 94 123 91 95 55 100 101 113 105 99 118 90 65 38 105 99 114 111 NOTE.—The basic data used and the methods of construction of the index of wholesale distribution were described and monthly indexes from January 1919, to October, 1927, were published in the BULLETIN for December, 1927, pp. 817-828. Indexes of sales of furniture revised in May, 1928 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

24 FEDERAL RESERVE BULLETIN JAXUARY, 192 DEPARTMENT STORES: SALES AND STOCKS. BY FEDERAL RESERVE DISTRICTS [Index numbers Monthly average 1923-1925=* 100] Federal Reserve District Month U S n ta i t t e e s d B to os n - Y N o ew rk d P e h lp il h a i - a C l l a e n v d e- m Ri o c n h d - la A n t t - a c C a h g i- o L S ou t. is M ap in o n li e s - K C a i n t s y a i s D la a s l- F c B i r s a a c n n o gales (unadjusted): 1927—July . . .. 75 74 74 65 78 72 I 76 82 68 75 68 69 89 August . 89 84 84 73 93 80 86 99 90 92 83 80 114 September 100 99 106 83 95 91 97 114 97 i 93 96 105 111 October 119 115 128 109 113 121 128 119 127 109 106 125 119 November ._ . 122 120 134 120 112 125 119 125 120 100 110 120 121 1928—July 78 76 77 64 78 75 77 91 73 68 71 71 94 August 85 78 78 65 85 78 86 102 83 80 85 80 116 September .__ 106 97 110 88 101 96 98 135 107 96 102 112 113 October. . 123 119 135 114 112 125 123 133 119 88 110 125 129 November 122 119 134 113 110 127 120 136 119 89 111 126 118 Sales (adjusted): 1927—July 104 105 108 96 107 103 105 112 100 97 100 111 August 111 ! 112 119 100 110 111 110 120 117 103 110 116 September _ 108 ' 110 117 98 102 103 107 114 96 95 102 120 October 106 1 104 108 98 102 105 106 109 110 99 106 112 November 107 107 113 95 103 104 104 115 105 94 106 117 1928—July 108 108 112 95 106 107 106 124 108 89 103 118 August 106 1 104 111 89 101 109 110 123 108 89 110 119 September . 120 1 113 127 108 114 114 112 141 110 102 113 127 October. 105 103 110 99 97 104 98 116 99 77 102 116 November . 107 106 114 89 101 106 105 124 104 83 111 114 8tocks (unadjusted): 1927—July. _ 94 95 95 89 93 94 91 93 95 83 101 79 101 August ._ _ 97 95 99 91 97 93 96 99 97 87 116 88 103 September 107 106 109 101 107 107 107 108 108 94 123 96 108 October 113 113 116 111 112 118 112 114 112 97 129 97 113 November... 116 118 117 114 116 122 115 116 112 97 128 98 119 1928—July. 92 91 96 85 91 91 93 94 87 78 106 72 101 August... 96 91 100 86 95 92 95 102 93 80 118 83 104 September 101 98 106 92 100 102 104 109 98 84 123 88 106 October 110 107 117 101 108 116 109 120 104 87 129 92 112 November _ 113 113 122 104 111 118 110 122 104 86 128 92 116 Stocks (adjusted): * 1927—July 101 104 104 97 100 10 99 101 101 88 85 105 August.. 101 102 105 97 101 101 98 100 97 88 86 104 September 103 102 103 97 103 102 101 102 102 90 88 104 October . 103 102 104 100 102 104 101 103 101 88 88 105 November 103 102 103 100 104 105 105 104 101 88 89 109 1928—July 99 100 105 93 98 100 101 102 93 83 78 105 August 100 98 106 92 98 100 97 103 93 80 81 105 September ___ 98 94 101 88 96 97 98 102 93 80 81 102 October 100 97 106 92 98 101 98 108 94 79 83 104 November _ 100 97 107 91 100 102 100 109 94 78 83 106 » Monthly average in 1925=100. NOTE.—For description of indexes given in this table see BULLETIN for February, 1928. SALES OF CHAIN STORES AND MAIL-ORDER HOUSES » [Index numbers of sales. Monthly average 1923-1925=100] mber of stores Sales without seasonal adjustment Sales with seasonal adjustment Number of reb N c o r v , e 1 m 92 " 8 October, Novem- Novem- October, Novem- Novem- October, Novem- 1928 ber, 1927 ber, 1928 1928 ber, 1927 ber, 1928 1928 ber, 1927 Chains: Grocery 29, 929 29, 860 29, 269 218 228 188 214 216 185 5-and-10-cent. 3,198 3.164 2,933 158 163 146 151 148 140 Apparel 1,271 1.265 1,074 289 289 250 229 213 198 Drug 1,083 1,047 905 169 169 144 178 164 152 Cigar 3, 648 3. 634 3,467 107 107 105 111 102 109 Shoe 681 622 130 126 118 124 113 112 Candy 310 257 130 134 125 129 127 124 Mail-order houses 0) C1) 0) 2 176 2 183 »149 »141 »140 »119 1 It is to be noted that some of the reporting rniil-ordar houses hive been establishing thro ash out tha coaatry iiriag recent years an increasing number of branch stores in which sales are made "over the counter." Claims in th3 v>l.i n> of sitj* by tais3 arcni, therefore, ]no longer measure changes in sales through the mails. 2 Including sales made through branch stores. NOTE.—For description of indexes given in this table see BULLETIN for April, 1928. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

25 JANUARY, 1929 FEDERAL RESERVE BULLETIN BANK SUSPENSIONS AND COMMERCIAL FAILURES BANK SUSPENSIONS. BY CLASS OF BANK COMMERCIAL FAILURES. BY CLASS OF ENTERPRISE » [Amounts in thousands of dollars! [Amounts in thousands of dollars] Nonmember Number Liabilities AH banks Member banks banks Month i i N b u e m r -i p T o d o s e t i - a ts l N b u e m r - p T o d o s e t i a - t l s N b u e m r - p T o d o s e t i a - t l s Month Total f M a i c a n t n g u u r- -T i r n a g d- , ^& et e c n^ . s» Total f M ac i a n t n g u u r- - T i r n a g d- A br g e o t e k c n e . t r s s , , I 1927 1927 August 27 i 17,364 8,881 8,483 February. 2,035 411 1,508! 116 46,941 10,518 23.406 13,017 September 1,257 7,731 March 2.143 569 1,468i 106 57, 891 22,368 28,191 7,332 October 44 11,542 3,729 7,813 April 1,968 492 1,342 134 53,156 25,278 22. 308 5,570 November 43 11,210 3,105 8,105 May 1, 852 444 1,292! 116 37, 785 13, 802 19, 978 4,005 December 49 8,476 1,310 7,166 June 1,833 427 1,310 96 34,465 13, 587 17, 856 3,022 July 1,756 448 1, 187! 121 43,150 16, 743 16,832 9,675 Total, 12 months. 662 193,891 538 127, 555 August— 1,708 438 1,174! 96 39,196 14, 921 14, 702 9,573 September 1,573 389 1,083! 101 32, 786 15, 349 12,052 5,385 1928 October... 1,787 488 1,170' 129 36,236 17, 134 14, 657 4,445 January 53 , 12,721 8 3,456 45 9,265 November 1,864 478 1,276! 110 36,147 12, 786 16, 949 6,412 February 50 , 20, 767 11 10,082 39 | 10, 685 December. 2,162 597 1,430, 135 51,062 29,024 16, 733 5,305 March 65 ; 19,443 9 4,373 56 15,070 April 44 , 9,910 6 3,361 38 6,549 Total..-J23,146 5,68216,082i 1,382J520,105211,500 228,194 80,405 May 29 6,968 5 2,287 24 4,681 June 28 : 15,209 2 1,699 26 13,510 1928 July 24 : 6,076 2 468 22 5,608 January... 2,643 553 1,946 144 47,634 14,870 26,446 6,318 A Se u p g te u m st b .. e , r . 2 2 0 1 8 6 , , 8 9 4 2 9 7 4 4 2 3, , 8 4 0 9 6 3 1 1 6 7 4 5, , 0 4 4 3 3 4 M Fe a b r r c u h ary . 2 2 , , 2 1 3 7 6 6 5 4 4 6 6 8 1 l, , 5 5 8 66 1j 1 1 2 2 7 4 5 4 4 5 , , 8 0 1 7 4 1 2 12 0 , , 4 7 1 5 2 1 2 2 4 6 , , 1 9 8 5 6 2 8 7 ,3 2 6 1 8 6 October 41 9,134 3 1,154 38 7.980 April 1,818 432 1,276 110 37,985 16, 236 16,049 5,700 November 71 28,984 13,792 62 15,192 May 2,008! 470 1,407 131 36,117 14,230 18,900 2.987 June 1,947 513 1,325 109 29,827 12, 723 13, 781 3,324 Total, 11 months. 446 ; 144,988 I 63 | 46,971 383 J 98,017 July 1,723 450 1,161 112 29,587 12,932 12,899 3,755 August ! 1,852 493 1,241 118 58,202 16,877 19,096 22,229 September1 1,635 454 1,073 108 33,957 14, 727 13, 567 5,662 BANK SUSPENSIONSi IN NOVEMBER, 1928, BY DISTRICTS October...! 2,023 528 1,369 126 34,990 13,490 17, 268 4,232 November , 1,838 519 1,202 117 40, 601 15, 446 17, 224 7,932 [Amounts in thousands of dollars] Total, 11 months _21, 899 5,42a15,147: 1, 326448, 785164, 695206, 368 77, 722 All banks M ba em nk b s e ' r Non b m an e k m s ber COMMERCIAL FAILURES, BY DISTRICTS i Federal reserve district [Amounts in thousands of dollars] Num- Total Num- Total Num- Total ber deposits1 ber deposits1 ber deposits* Number Liabilities C R B N P l i o h e e c s w i v h l t e o a m l n d Y a o e n n o _ l d p d r _ k hi . a .. . 1 4 2 2 5 , ,5 8 2 6 4 3 4 1,493 4 8 2 4 , , 8 0 6 3 3 1 Fede d r i a s l t r r i e c s t erve v b N 1 e 9 e o m 2 r - , 8 - O b 1 c 9 e t 2 r o , 8 - v b 1 N e 9 e o m 2 r - , 7 - v b 1 N e 9 e o m 2 r - , 8 - O b 1 c 9 e 2 t r o , 8 - v b 1 N e 9 e o m 2 r - , 7 - Atlanta _ 11 12, 274 1 10. 239 10 2,035 Chicago... _ 12 3,665 2 1,199 10 2,466 St. Louis 4 943 4 943 Boston.. ... 207 217 185 3, 379 4. 592 5,590 Minneapolis 18 2, 22o • 18 2,225 New York 418 412 350 9, 818 9. 609 8,368 Kansas City . 9 1,279 2 861 7 418 Philadelphia 97 113 72 1, 793 2,713 1,487 Dallas 211 1 211 Cleveland _ 134 162 147 2,614 2,359 3,449 San Francisco i Richmond 104 106 137 4,851 1,634 2,556 Atlanta 69 131 99 1,550 1,966 1,205 Total «71 28,984 9 13, 792 62 15,192 Chicago 235 285 210 5, 625 6,113 3,183 St. Louis 125 93 93 5,740 1,075 3,477 Minneapolis __ 55 74 68 711 678 1,153 1 Banks closed to the public by order of supervisory authorities or by Kansas City_ _ 99 81 113 1,280 963 2,194 the directors of the banks on account of financial difficulties. Dallas 33 65 68 756 857 818 * Includes 8 national banks with deposits of $13,380,000 and 1 State San Francisco 262 284 322 2,485 2,431 2,668 member bank with deposits of $412,000. • Figures represent deposits for the latest available date prior to the Total _ 1,838 2,023 1,864 40, 601 34, 990 ! 36,147 suspensions and are subject to revision when information for the dates of 1 suspension becomes available. 4 Includes 4 banks for which deposit figures are not available. i Figures furnished by R. G. Dun & Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

26 FEDERAL RESERVE BULLETIN JANUARY, 1929 DECEMBER CROP REPORT, BY FEDERAL RESERVE DISTRICTS [District figures derived from revised estimates, by States, made by the Department of Agriculture] [In thousands of units] Corn Total wheat Spring wheat Winter wheat Federal reserve district Yield, Estimate, Yield, Estimate, Yield, Estimate, Yield, Estimate, 19271 Dec. 1,1928 1927 1 Dec. 1,1928 1927 1 Dec. 1,1928 19271 Dec. 1,1928 Bushels Bushels Bushels Bushels Bushels Bushels Bushels Bushels Boston 8,493 8,890 92 96 92 96 New York 26, 394 25, 884 7,216 5,506 222 173 6,994 5,333 Philadelphia- 45,929 45,500 18,761 16,140 110 85 18, 651 16,055 Cleveland 150, 299 174,381 33, 864 13,145 114 164 33,750 12,981 Richmond 163,442 139,573 25, 233 25,880 25, 233 25,880 Atlanta 181,821 137,350 4,528 4,392 4,528 4,392 Chicago 787,986 1,020, 605 65, 560 43,044 5,304 ! 6,479 60, 256 36, 565 St. Louis 338,829 359,940 42, 030 31, 398 509 i 724 41, 521 30, 674 Minneapolis— 304,986 282,101 277,970 279, 572 257,746 j 263,069 20, 224 16, 503 Kansas City__ 608,450 520, 235 246,159 334,956 12,541 I 14, 716 233, 618 320, 240 Dallas 134, 969 114, 742 18, 357 23,064 143 188 18, 214 22,876 San Francisco. 11,495 10, 758 138, 604 125, 556 48, 846 38,091 89, 758 87,465 Total— 2, 763, 093 2, 839,959 878, 374 902, 749 325,627 323, 785 552, 747 578,964 Oats Tobacco White potatoes Cotton Federal reserve district Yield, Estimate, Yield, Estimate, Yield, Estimate, Yield, Estimate, 19271 Dec. 1,1928 1927 1 Dec. 1,1928 1927 1 Dec. 1,1928 i 19271 Dec. 1,1928 Bushels Bushels Pounds Pounds Bushels Bushels Bales Bales Boston 9,030 7,921 37,378 38,915 45,351 46,132 New York- 36,636 35,050 1,250 1,317 33,152 36,991 Philadelphia— 24,844 21,770 46,240 49,580 25,998 30,208 Cleveland 78,328 106,377 81,287 119,120 21,490 23, 511 Richmond 25,968 22,865 719,966 695,918 48,361 1,622 1,609 Atlanta- 14, 282 10, 746 121,134 163,011 12,366 14,843 2,836 2,727 Chicago 454,805 627,537 32,840 49, 005 51,925 76,982 St. Louis 39,663 64,227 166,876 249,546 12,932 19,510 2 2,319 »2,675 Minneapolis. _ 285, 760 321,611 1,990 4,141 64, 738 75,449 Kansas City— 136,036 158,214 2,948 2,948 34,916 40,120 976 1,125 Dallas 43,807 37,983 3,127 3,747 5,029 5,961 San Francisco 33,435 35, 230 56,050 47,089 173 276 Total— 1,182,594 1,449,531 1,211,909 1,373,501 402,741 462,943 12,955 14,373 11927 data based on revised report. *Includes 7,000 bales grown in miscellaneous territory. > Includes 9,000 bales grown in miscellaneous territory. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

27 JANUARY, 1929 FEDERAL RESERVE BULLETIN FOREIGN BANKING AND BUSINESS CONDITIONS NEW WEEKLY STATEMENT OF THE BANK OF ENGLAND Important changes were made by the Bank securities." It is thus made evident that the of England in the weekly statement issued issue department holds other than Governafter the amalgamation of currencies in Great ment securities. Britain.1 For purposes of comparison the Other changes in the report of the issue statements of November 21 and November 28 department present certain essential facts more are given in full below: conveniently. The fiduciary issue is shown separately and for notes issued separate figures BANK OF ENGLAND are given for those notes still held by the bank and notes actually outside the bank in circu- November 21 lation. Notes held by the bank are all in the fin thousands of pounds] banking department, which makes it a prac- ISSUE DEPARTMENT tice to turn over all but a small fraction of Notes issued.. 180,964 Government debt 11,015 its gold to the issue department in exchange Other securities 8,735 Gold coin and bullion 161,214 for notes. These notes remain fully covered Silver bullion _ by gold and in effect constitute gold reserves 180,964 180, 964 in the banking department in the same way that gold certificates held by the Federal BANKING DEPARTMENT reserve banks constitute gold reserves. The Proprietors' capital 14, 553 Government securities 48,340 Rest 3,204 Other securities.. _ 34,757 notes in circulation outside the bank are to a Public deposits (including Notes 48,162 considerable extent in the vaults of the comexchequer, savingsbanks, Gold and silver coin 871 commissioners of na- mercial banks rather than in general circulational debt, and dividend accounts).— _ 14,898 tion. Exact figures of the amount in com- Other deposits 99,472 mercial bank vaults are not available, but at 7-day and other bills 3 the end of November the amount wag" probably 132,130 132,130 not less than one-third of the total notes in BANK OP ENGLAND circulation.2 November 28 It is in the report of the banking department that the most important changes have been [In thousands of pounds] made. The Bank of England differs from the ISSUE DEPARTMENT Federal reserve banks in that it holds the Notes issued: Government debt.-. 11,015 deposits not only of other banks and the In circulation 367,001 Other Government securi- In banking depart- ties 233, 569 Government but of private individuals as ment. O ther securities 10,176 Silver coin... 5,240 well. Previous to the new statement the only distinction made in deposits was that between Amount of fiduciary issue. 260, 000 Gold coin and bullion 159, 089 public and other. These other deposits have 419,089 419,089 now been divided into "bankers" and "other accounts." Under the heading "bankers" are BANKING DEPARTMENT shown the balances not only of the London R Pr e o s p t. r ietors' capital 1 3 4 , , 2 5 5 5 4 3 G O o th v e e r r n se m c e u n r t i ti s e e s c : urities 52,180 clearing banks, but of other banks in the United Public deposits (including Discounts and Kingdom of Great Britain and Northern Ireexchequer,savings banks, advances 13,586 commissioners of na- Securities 20,215 land which accept deposits payable on demand t d i e o n n d a l a c d c e o b u t n , ts a ). n d divi- 21,452 Notes... 5 3 2 3 , , 0 8 8 0 8 1 and the business of which is primarily domestic Other deposits: Gold and silver coin 757 in character. The "other accounts" include Bankers 62,379 Other accounts 37,185 deposits of private customers and foreign 99,565 7-day and other bills 3 banks and are relatively stable in character. 138,826 138,826 s The average "coin, notes, and balances with Bank of England" of the nine London clearing banks during November was £197,000,000. In the report of the issue department new On November 28 bankers' deposits at the Bank of England were information is made available through the £62,000,000. These bankers' deposits include accounts of other banks in England, Scotland, and Northern Ireland; hence the clearing banks must division of the item "other securities" into have had considerably more than £ 135,000,000 of cash in their own vaults. An unknown amount of this cash was in the form of coin; but it appears " other Government securities" and " other safe to say that some £125,000,000 represented Bank of England notes. This is slightly more than one-third of the £367,000,000 notes in circulation on November 28. In addition other English, Scotch, and Irish i See FEDERAL RESERVE BULLETIN for December, 1928, p. 847. banks held Bank of England notes in their vaults. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

28 FEDERAL RESERVE BULLETIN JANUARY, 1929 In the six reports now available on the new the initiative in borrowing from the bank. basis they have not varied by more than The figures for "securities,77 on the other hand £2,000,000. Bankers7 deposits, on the other taken in conjunction with the figures for hand, have fluctuated through a range of "Government securities,77 give some indication £18,000,000. The importance of these bankers' of the open-market operations of the bank— deposits lies in the fact that together with the that is, the extent to which on its own initiative cash in bank vaults they constitute the re- the bank has placed funds in the market serves of the commercial banking system of through the purchase of securities or with- Great Britain. In recent years the combined drawn funds by selling securities or allowing ratio maintained by the London clearing banks them to mature. of reserves to deposits has varied in the monthly It is worthy of note that of the total of averages between 11 and 12 per cent. £86,000,000 of "securities77 held on November The relation of the money market to the 28, 1928, about £72,000,000, or 84 per cent, Bank of England has been further clarified by were Government and other securities and only the division of the item "other securities77 into £14,000,000, or 16 per cent, were discounts and "discounts and advances'7 and "securities." advances. Open-market holdings on that date, The figures for "discounts and advances77 indi- therefore, constituted considerably more than cate the extent to which the market (including four-fifths of the total earning assets of the the bank's own individual customers) has taken banking department. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

29 JANUARY, 1929 FEDERAL RESERVE BULLETIN FINANCIAL STATISTICS FOR FOREIGN COUNTRIES CONDITION OF CENTRAL BANKS [Figures are for the last report date of month] I 1928 1927 :l 1928 1927 Xovein-I Octo- ! Sep- Is ovem- Novem- Octo- I Sep- ; No vein ber | her ; tember ber ber ber i tember j ber Bank of England (millions of pounds National Bank of Bulgaria (millions sterling): of leva): Issue department- Gold 1,319 1,317 1,312 1,274 Gold coin and bullion 159.1 163.5 170.6 148. 6 Foreign bills, etc 1, 390 i 1,092 969 648 Notes issued 419.1 183.2 190.3 168.3 Loans and discounts 1,205 ! 1,238 1,155 923 Banking department- Advances to State 4,421 ! 4,471 4,371 j 4,514 Gold and silver coin 1.5 2.6 1.3 Note circulation 4,379 j 4,610 4,501 3,902 Bank notes 52.1 ! 48.7 55.8 31.4 Deposits 3,149 ! 2,726 2,567 2,898 Government securities 52. 2 ' 42.6 31.7 41.3 O D t i h sc e o r u s n ec ts u r a i n t d ie s a dvances i 2 1 0 3 . . " 6 ! | 42.6 41.0 57. 4 Ce p n e t s r o a s l ) : Bank of Chile (millions of Public deposits 21.5 . 14.1 9.7 18.4 Gold at home O Ba th n e k r e r d s e p de o p si o t s s its G 37 2 . . 2 4 j 103.5 103.7 95.2 D Lo e a p n o s s i a ts n d ab d r i o s a c d o unts _. Reserve ratio J (per cent) 43.6 i 42.6 51.5 28.9 Note circulation _ Bank notes in circulation 2 367.0 : 78.3 78.2 80.7 j Deposits Currency notes and certificates __ 291.6 293.9 295. 8 Bank of France (millions of francs);3 Bank of the Republic of Colombia Gold 31, 600 30, 786 30, 623 (thousands of pesos): Sight balances abroad.... 13, 386 13,983 12,692 Gold at home 25,049 ! 24,950 j 24,651 20, 378 Foreign bills 18, 865 18, 525 18,473 Gold abroad 41,714 j 41,729 41,291 23, 687 Foreign exchange loaned. i 1, 300 1,720 3,455 Loans and discounts. 7,920 i 7,001 , 5,988 14,494 Loans and discounts 5, 535 6, 252 6,173 Note circulation 52,077 ! 51,091 \ 49,851 42, 077 Negotiable bonds - 5,930 5,930 5,930 Deposits 11,546 i 11,777 ! 11,903 8,000 Note circulation 62, 000 61, 327 62,654 Public deposits ! 12, 576 11,928 10,900 Czechoslovak National Bank (mil- Other deposits G, 119 6, 880 5,169 lions of Czechoslovak crowns): German Reichsbank (millions of ! Gold and silver.. 1,159 I 1,159 \ 1,159 i 1, 058 reichsmarks): j Foreign balances and currency.. 2, 339 ; 2,129 2,092 i 2, 235 Gold reserve 2,538 2,447 2,311 784 Loans and advances 392 | 491 • 473 ; 63 Gold abroad 80 86 86 73 Assets of banking office in liqui- Reserves in foreign exchange 173 163 179 282 dation.... 437 I 445 450 514 Bills of exchange and checks i 2,211 2,348 2,576 483 Note circulation _ 7,818 I 7,825 7,806 7,5G6 Miscellaneous assets 513 513 545 512 Deposits 777 ! 563 i 590 ' 1,016 Deposits 473 494 503 485 Reichsmarks in circulation I 4, 724 4,672 4,830 181 Bank of Danzig (thousands of Dan- Rentenmarks in circulation 537 558 577 798 zig gulden): Ban G kj o o l f d I a ta t l h y o ( m m e illions of lire ) :* 5,052 : 5,052 I B F L o o a r l a a e n n i s g c n a e s n b d w il l d i s t i , h s e c B t o c a u . n n .. k t s o . f England- 2 1 18 2 7 , , , 2 5 5 1 6 5 1 0 9 2 2 15 2 0 , , , 4 3 4 1 7 5 2 5 6 ; 2 2 1 2 5 2 , , , 0 9 3 8 8 7 6 7 2 3 1 1 6 7 8 , , , 3 3 0 7 3 4 6 8 3 Credits and balances abroad 6,125 j 6,594 Note circulation 38, 567 37,886 . 38,651 35, 967 Loans and discounts 5,198 i 4,414 Deposits.... 2,513 2,121 2, 659 2,396 Advances to treasury Total note circulation 17,236 I 17,476 j Public deposits 300; 300 Danish National Bank (millions of Other deposits 2,319 ! 2,561 ! kr G on o e ld r): 173 173 173 Bankgof Japan (millions of yen): j Foreign bills, etc 96 ! 105 Gold | 1,003 I 1,063 1,063 ,063 Loans and discounts 63 ! 74 85 81 Advances and discounts 813 I 826 838 913 Note circulation 354 I 361 360 346 Advances on foreign bills. 29 j 29 30 10 Deposits _ 26 I 33 32 21 Government bonds 192 | 190 188 153 Notes issued 1,258 1,306 1,308 1,237 National Bank of Egypt (thousands ! Total deposits 943 884 916 1,015 of Egyptian pounds sterling): Austrian]National Bank (millions of Gold 3,829 i 3,821 3,720 schillings): English Government securities— 28,960 I 24, 360 26, 505 Gold 169 169 134 84 Egyptian Government securities. 22,135 ' 22, 637 24, 507 Foreign bills of the reserve- 237 246 298 377 Note circulation 31,637 1 27,059 29, 208 Other foreign bills 327 323 327 251 Government deposits 19,618 : 17,972 20, 522 Domestic bills 145 147 120 71 Other deposits. 15,061 J13, 891 17, 239 Treasury bills 166 166 166 173 Note circulation 984 1,007 1,008 926 Bank of Estonia (thousands of Deposits 63 47 40 34 krones): Gold 6,414 10,015 I 10,045 5,124 National Bank of Belgium^(millions Net foreign exchange 26, 684 24,287 25,943 11,011 of F G b o o e r l l g d ei a g s n ): bills and balances in gold. S 5 2 3 9 9 8 5 1 4 3 4 8 50 0 5 7 4 6 3 9 8 9 N L D o o e a t p e n o s c s a i i r n t c s d u - l d at i i s o c n ounts 3 37 0 , , 1 7 8 0 6 9 2 38 8 , , 4 8 6 9 5 6 , 2 3 6 9 , , 5 5 2 6 2 4 i 5 22 5 , , 5 8 6 2 9 5 D L N D o o o e a p m te n o e s s c s i i t t t r o i s c c S u a t la n a t d t i e o f n oreign bills.. 2, 3 6 3 1 6 0 3 0 6 6 7 9 2, 6 3 3 8 7 1 25 1 1 7 2, 5 3 2 1 8 7 2 1 0 4 7 6 1, 4 5 9 1 0 0 7 0 5 0 9 3 G B O a o th n v e k e r e rn rs ment 1 4 1 7 , , , 0 5 1 6 1 8 1 8 2 1 3 7 1 , , , 5 1 6 9 0 8 2 9 8 : I ; 1 1 5 5 , , , 3 0 8 4 3 0 6 8 3 \ J 3 7 6 , i 2 c )h 1 o 6 4 ° - 1 Ratio of gold and notes in banking department to deposit liabilities. 3 New form of bank statement adopted in June. 2 Notes issued, less amounts held in banking department and in 4 New par. currency note account. 5 Not including 1,535 million lire of gold pledged abroad. 26516—29 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

30 FEDERAL RESERVE BULLETIN JANUARY, 1929 CONDITION OF CENTRAL BANKS—Continued [Figures are for the last report date of month] 1928 1927 i| 1928 Novem- Octo- Sep- ! Novem- Novem-j Oeto- | Sep- Novem- ! ber : ber tember j ber ; ber j ber ! tern ber ber Bank of Finland (millkms of Fin- Bank of Poland (millions of zlotys): nish marks): Gold at home.. ._ 426 408 ' 277 Gold 305 306 i 307 | 318 Gold abroad.. 182 195 195 j 231 Balances abroad and foreign Foreign exchange, etc.— ; credits 710 683 601 ! 1,390 Serving as note cover 508 482 462 '• 651 Foreign bills. 26 41 77 i 49 All other. 194 197 200 230 Domestic bills 1, 289 1,208 i,183 ; 611 Loans and discounts ; 709 727 744 465 State debts -- 122 Note circulation.. 1,270 1,313 1,261 940 Note circulation. __ 1,502 1,539 1,599 1,447 Current account of the treasury.. 286 249 302 398 Demand liabilities 410 182 651 Other current accounts. _ 247 227 136 ; 246 Bank of Portugal (millions of escu- " Bank of Greece (millions of drachdos): I ma N T G N G e o o o o e ) t t l t v : a d e f e i l o r c r f n i e o r m i r c g e u e n ig l n a n e t t x i o e o c b x n h l c a i h n g a g a n t e i g o i e n n s reserve. • . 4 3 3 5 , , , , 5 7 5 5 6 9 9 4 6 2 9 0 8 5 8 3 3 4 5 , , , , 7 7 5 5 4 5 8 4 4 9 9 0 0 3 0 3 4 3 6 . , , , 7 7 3 5 2 1 9 6 3 6 9 0 2 7 8 N D G B B i a o e o l l p l t l a d e s o n s c c i i e t r s s c u a l b a r t o io a n d 1,9 2 2 2 7 4 7 4 0 0 9 1,9 2 2 4 8 5 4 5 6 9 0 1,9 2 2 1 6 2 7 6 9 6 9 5 ! : | 1,8 2 1 0 9 1 7 7 1 9 9 7 Other sight liabilities 2,112 1,851 1,707 National Bank of Rumania (millions of lei): National Bank of Hungary (mil- Gold at home 156 156 155 150 lions of pengo): Loans and discounts 12,425 ! 12,388 13,732 11,447 Gold 201 201 197 197 Advances to State 10,679 10,679 10,679 10, 679 Foreign bills, etc 57 52 47 106 Note circulation 21,756 21,959 21,054 21,023 N D L O A o e o t d h a p t v e e n o a r s s n c i a c i a t r s s e n c s s d u e t l t d o a s t i . i s t _ o r c e n o a u s n u t r s y 4 3 2 1 1 7 5 8 1 0 6 9 4 1 4 4 2 5 1 1 1 9 1 4 0 0 1 3 3 2 4 7 3 2 1 5 1 1 9 2 2 2 0 0 8 3 9 6 0 4 i ! i 4 3 3 2 1 1 5 1 1 5 1 9 6 6 4 8 5 7 St d v a o e t G F e p n o a o t B s r r l e i d t a ) m i : n g k n e n c o t; u f rr R t e h n u o c s u s y s ia a n ( d n s o te o f i ss c u h in er g - 17 7 , ,9 8 1 1 0 9 15 8 , ,5 8 3 3 0 8 1 8 4 , , 4 8 3 10 2 18 7 , ,8 8 8 8 1 0 Miscellaneous liabilities Loans and discounts 82,490 83, 721 81,777 80, 900 Bank of Java (millions of florins): Bank notes 112,130 1112,328 109,010 ! 106,847 Gold 171 172 179 National Bank of the Kingdom of Foreign bills 38 33 33 24 Serbs, Croats, and Slovenes (mil- Loans and discounts Ill 109 104 ; 131 lions of dinars): Note circulation.. - 315 321 320 317 Gold 91 91 91 Deposits 65 61 52; 64 Foreign notes and credits 267 271 275 ! 369 Loans and discounts 1,660 I 1,710 1,698 I 1,580 Bank of Latvia (millions of lats): Advances to State 2,966 2,966 2,966 i 2,966 Gold 24 24 Note circulation 5,598 5,786 5,751 1 5,702 B N F L G O o i o o o t l r h l t a v e s e e n e i r g r c s n n d i . r . m e c e p u x e o l n c a s h t t i a i t d o s n e n g p e o s r i e t s s erve— 1 4 4 7 0 2 4 1 5 1 8 4 8 4 0 7 4 2 4 5 3 7 1 4 8 8 4 1 1 6 4 6 4 : i ! i So s u a t D D n G F h d o e o o s r p A l m e d o o i f e g s r f s i i n c p t t s i a o c b n u i b l n l R i s d ll e s s s s e t r e v r e l in B g a ) n : k (thou- 6 7 1 , , , 9 1 7 6 5 6 4 3 1 8 6 9 ! ! | 7 7 , , 2 7 6 6 9 2 9 4 9 0 5 3 8 7 , , 0 6 6 7 8 5 3 4 9 7 8 7 : 7 1 7 , , , 1 3 3 6 8 9 2 2 7 3 5 1 Bank of Lithuania (millions of litas): ! N D o e t p e o c s i i r t c s u - lation 9,283 I 7,980 9,011 | 7,713 Gold ! 34 ! Government 2,121 ! 1,703 1,190 ! 2,187 Foreign currency i 41 j Bankers 5,183 j 5,279 5,282 ! 4,965 Loans and discounts ! 86 Others 275 j 237 210 I 206 Note circulation Deposits Bank of Spain (millions of pesetas): Gold 2,559 I 2,609 2,609 : 2, 603 Ne in t s h G F L ): e o o o r r a l l e d a n i n s g d n a s n b d B il l d a s n is k c o ( u m n i t l s li . ons of flor- 4 2 1 3 0 7 5 7 2 4 1 1 3 8 9 5 7 9 4 1 1 3 9 5 5 3 4 3 2 1 8 9 4 3 0 5 N D S B L i o a e o l l a p t v a e n o e n s s c r c i . i a e t . r s s n . c . d u a l b d a r t i o i s o a c n d ounts 4 1 , , 3 9 9 1 2 3 9 6 7 3 1 I ! I 4 2 , , 3 0 9 8 5 4 3 1 8 6 9 • 2 4 , , 0 3 9 7 1 2 0 0 3 3 3 3 0 9 ! j I 4 1 1 , , , 1 6 6 0 6 2 3 8 3 6 9 3 " 5 i Note circulation.. 818 829 797 811 Bank of Sweden (millions of kronor): Deposits 39 34 67 Gold 237; 237 231 Foreign bills, etc 179 ! 156 119 232 Bank F G o o o r f l e d i N . g o n r w ba a l y a n ( c m e i s l l a io n n d s b o i f l l k s roner): 1 3 4 1 7 1 3 4 1 7 1 3 4 7 7 ! j 1 4 4 1 7 L N D o e o a p te n o s s c i i a t r s n c d u l d at i i s o c n ounts 5 1 3 1 8 2 ! i 5 1 1 1 7 6 4 5 1 0 6 2 1 5 1 2 5 1 1 2 0 9 8 4 Domestic credits 281 274 268 I 256 Swiss National Bank (millions of Note circulation 302 307 313 ! 318 francs): Foreign deposits 2 2 2 5 Gold 469 | 470 468 451 Total deposits... 105 95 85 101 Foreign balances and bills 263 i 238 211 2 52 Loans and discounts 197 234 343 Reserve Bank of Peru (thousands of Note circulation 878 885 892 841 libra): Demand deposits 109 92 64 3 96 Gold 4,105 4,091 4,128 i 4,156 Bank of the Republic of Uruguay Gold against demand deposits. _. 311 325 288 ! 260 (thousands of pesos): Foreign exchange reserve 1,463 1,185 1,220 758 Gold _ 66,075 I 55,423 Bills. 1,160 1,493 1,362 : 1,816 Loans and discounts 97,899 ; 101,644 Note circulation 6,059 5,994 6,028 i 5,894 Note circulation 64,088 65,138 Deposits 621 650 576 521 Deposits 81, 554 77, 522 * New form of bank statement adopted in May. 1 Foreign balances only. • Total deposits. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUAET, 1929 FEDERAL RESERVE BULLETIN 31 CONDITION OF COMMERCIAL BANKS [Figures are for the last report date of month except for London clearing banks, which are daily averages] 1928 1927 Octo- Sep- Au- Octobcr tember gust ber Nine London clearing banks (mil- Joint-stock banks of Denmark (millions of pounds sterling): lions of kroner): Money at call and short notice... Loans and discounts. .! 1,821 1,879 1,873 1,904 Advances and discounts Due from foreign banks ! 140 139 134 62 Investments Due to foreign banks I 91 92 95 92 Deposits Deposits and current accounts...} 1,928 1,975 1,972 2,090 Six Berlin banks (millions of reichs- Joint-stock banks of Finland (milmarks): lions of Finnish marks): Bills and treasury notes1 2,189 2 1, 509 Loans and discounts j 9,717 9,621 9,463 7,982 Due from other banks 1,013 2921 Due from abroad i 219 279 291 475 Miscellaneous loans 6,067 2 5,042 Due to abroad 463 460 432 357 Deposits 8, 636 I 2 6,872 Deposits 7,626 7,613 7,659 6,933 Acceptances1 410 i 2 410 Three commercial banks of France | Tokyo banks (millions of yen):3 (millions of francs): j Cash on hand Bills and national defense bonds.; 20,074 19, 908 14,819 Total loans Loans and advances ' . 8, 285 8,058 5,353 Total deposits Demand deposits I 31, 753 I 32,152 24,807 Total clearings.. Time deposits I 477 I 487 438 Four private banks of Italy (millions of lire): Cash 1,126 1,185 11,242 Bills discounted. 8,855 8,872 18,897 Due from correspondents 5,144 4,975 £5,454 Due to correspondents 13, 735 ! 13, 628 13,790 Deposits 2,925 I. 2,926 2,567 Banks of Buenos Aires, Argentina Joint-stock banks of Norway (mil- (millions of gold pesos): lions of kroner): Gold- Loans and discounts 1,393 1,394 1,410 1,633 Bank of the Nation Due from foreign banks 104 123 102 92 Other banks Due to foreign banks 94 110 98 170 Other cash- Rediscounts 137 137 146 138 Bank of the Nation Deposits 1,576 1,591 1,615 1,726 Other banks Loans and discounts- Joint-stock banks of Poland (mil- B O a th n e k r o b f a t n h k e s Nation lio L n o s a o n f s z a l n o d ty d s) is : counts 5 759 I 744 733 495 Deposits- Due from foreign banks 5 31 30 32 22 Bank of the Nation Due to foreign banks fi 142 131 137 63 Other banks Rediscounts 5 150 149 148 106 Deposits 476 466 324 Chartered banks of Canada (millions of dollars): Joint-stock banks of Sweden (mil- Gold coin and bullion 4 lions of kroner): Current loans and discounts Loans and discounts 4,145 ! 4,147 4,128 4,141 Money at call and short notice- Foreign bills and credits abroad- 319 323 303 278 Public and railway securities Due to foreign banks 136 i 135 125 129 Note circulation Rediscounts 165 231 215 71 Individual deposits . Deposits.. _ 3,574 I 3,562 3,547 3,575 Gold reserve against Dominion notes_ Dominion note circulation 1 Checks formerly included under "Acceptances" are included under "Bills and treasury notes" beginning with the March, 1928, statement 2 Figures are for October, 1927. 3 Beginning in November, 1927, figures have been included for 10 banks not previously covered by the reports. « Not including gold held abroad. 5 Preliminary. DISCOUNT RATES OF 33 CENTRAL BANKS [Prevailing rates, with date of last change] Country Rate I s n i nc e e ff — ect Country Rate I s n i nc e e ff — ec t | Country Rate I s n i nc e e ff — ect Country Rate I a n i n e o f e f — ect Austria July 17,1928 Estonia... Jan. 2,1928 Japan o.48 Oct. 10,1927 S Portugal 8 July 27,1926 B B e u l l g g i a u r m ia 9 J D u e n c e . 3 1 0 5 , , 1 1 9 9 2 2 8 8 F Fr i a n n la ce nd... m N Ja o n v . . 1 1 9 5 , , 1 1 9 9 2 2 8 8 J L a a v t a via 6 6 -7 A M p a r y . 3 1 , , 1 1 9 9 2 2 5 8 j R R u u m ss a ia nia 6 8 S M e a p r t . . 2 4 2 , , 1 1 9 9 2 2 0 7 Chile 6 Oct. 22,1928 Germany . Jan. 12,1929 Lithuania... k Feb. 1,1926 South Africa hM Jan. 9,1928 Colombia 7 May 15,1924 Greece 9 Nov. 30,1928 Netherlands Oct. 13,1927 Spain &A Dec. 19,1928 Czechoslovakia. 5 Mar. 8,1927 Hungary.. 7 Oct. 2,1928 .,Norway Mar. 27,1928 Sweden 4H Aug. 24,1928 Danzig 6 June 21,1927 India 7 Dec. 13,1928 Peru May 17,1928 Switzerland. 3M Oct. 22,1925 Denmark 5 June 24,1926 Italy 6 Jan. 7,1929 Poland 6 May 13,1927 Yugoslavia- 6 June 23,1923 England Apr. 21,1927 8 Changes: Bank of Greece from 10 to 9 per cent on November 30,1928; Imperial Bank of India from 6 to 7 per cent on December 13, 1928; National Bank of Bulgaria from 10 to 9 per cent on December 15, 1928; Bank of Spain from 5 to blA per cent on December 19,1928; Bank of Italy from 5% to 6 per cent on January 7, 1929; German Reichsbank from 7 to 6% per cent on January 12, 1929. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

32 FEDERAL RESERVE BULLETIN JANUARY, 1929 MONEY RATES IN FOREIGN COUNTRIES Netherlands (Am- England (London) Germany (Berlin) sterdam) B a m a n a c o n c c n e k e s t p e h , t r s - 3 s' T m b re i o l a l n s s t , u h 3 r s y Da m y- o t n o e - y day B d a a e a n l p n c lo o e k w s e o i r - t n s s ' d P is r r i c a v o t a e u t n e t d P is r r i c a v o t a e u t n e t M 1 o m ne o y n f t o h r d P i r s r i c a v o t a e u t n e t 1927 January 4.17 4.21 4.20 6.06 3.78 2.97 2.93 February 4.19 4.32 4.23 5.77 5.19 3.47 3.62 March 4.33 4.36 4.07 4.59 6.91 4.87 3.50 3.55 April 4.04 4.04 3.64 4.61 j 6.57 5.63 3.47 3.72 May 3.88 3.84 3.73 4.90 6.95 5.99 3.46 3.76 June. 4.34 4.36 3.43 5.39 7.73 5.79 3.67 3.87 July 4.33 4.33 3.50 5.90 8.49 7.06 3.53 3.25 August 4.33 4.35 3.61 5.82 8.38 6.81 3.45 3.40 September 4.32 4.33 3.55 5.90 8.30 6.00 3.58 3.82 October 4.32 4.33 3.67 6.69 8.72 7.19 4.11 4.29 November 4.33 4.34 3.62 6.76 8.72 6.03 4.50 4.73 December 4.31 4.31 3.44 6.87 9.10 7.24 4.49 4.85 1928 January 4.19 4.13 3.49 | 6.27 7.66 5.16 4.10 3.29 February 4.18 4.18 3.63 6.20 7.30 6.66 3.80 3.12 March 4.12 4.07 3.63 6.72 7.51 6.81 3.89 3.20 4.02 4.01 3.57 6.71 7.57 6.64 3.93 3.29 3.97 3.95 3.58 6.66 7.80 7.00 4.17 3.32 June 3.82 3.80 3.26 6.59 8.08 6.37 4.11 3.40 July. 3.99 3.97 3.27 6.74 8.18 7.74 3.84 3.44 August 4.27 4.26 3.50 6.68 8.19 6.12 3.90 3.41 September 4.23 4.19 3.55 6.65 8.58 6. 65 4.35 3.38 October 4.35 4.37 3.80 6.57 8.26 6.70 4.42 3.38 November 4.38 4.30 3.64 6.28 8.15 6.70 4.74 3.35 Belgium (Brussels) Private Private Private Private Loans up Call discount discount discount discount commer- to 3 money rate rate rate rate cialpaper months overnight 1926 November December 1927 January 4.99 9.25 6.39-8.76 February 4.45 9.25 6.21-8.03 March 3.89 9.25 5. 84-7.67 April 3.17 9.25 6.84-8.03 May 2.46 8.50 6.57-7.67 June 2.25 7.60 6.57-8. 76 July 2.13 7.00 6.21-8.40 August 2.04 7.00 5.48-8.03 September 2.01 6.81 5.11-7.67 October 1.82 6.50 4.76-7. November 2.75 6.27 5.11-7. December 2.95 6.00 648-7.67 1928 January... 4.08 2.81 6.00 4.38-7.67 1.64-5.11 February 3.00 2.75 5.89 4.38-6.21 1. 46-4 02 March 4.10 2.72 6.75 4.02-5.84 2.92-4.02 April 4.25 2.62 5.49 4.75-5.84 2.56-4.02 May 4.25 2.62 5.25 4.75-5.84 1.46-4. 02 June 4.27 2.90 5.25 4.38-5.84 1.46-4.02 July 4.02 3.12 5.25 4. 38-5. 84 1.46-4.02 August 4.00 3.23 5.25 4.38-5. S4 2. 92-4.02 September 3.96 3.26 5.25 4. 75-5. 84 2.37-4. 02 October 3.94 3.37 ! 5.25 4. 75-6. 21 2.92-4. 02 November 3.94 5.45 Nans.—For sources used, methods of quotation, and back figures, see the FEDEBAL RESERVE BULLETINS for November, 1926, and April, 1927. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

33 JANUARY, 1929 FEDERAL RESERVE BULLETIN GOLD MOVEMENTS [In thousands of dollars] United States Germany Great Britain Netherlands A So fr u ic th a India Month Net Net Net Net Net Net p I o m r - t s | p E o x rt - s im or p o e r x t - s p I o m r - ts p E o x rt - s im p or o p r o e t r x , t - s p I o m r - ts p E o x rt - s im o p r j p o e o r x t r - s ts p I o m r - ts p E or x t - s im o p r p o r o ex t r - s t s! ; im o p r o p e r o x t r s - ts im or p o e r x t - s () <) 1927 January 59,355! 14,890 44,465 14,088 525 13,563! 11,514 18,181-6,667 1,303 74 1,228! -18,899 2,518 February 22,309 2,414 19,895 6,231 659 5,572, 15, 742 15,480! 262 411 -15,036 6,543 March 16,382 5,625 10,757 6,578 840 5,736! 7,526 6,894 632 488 449 -16,924 10,041 April 14,503 2,592 11,911 935 666 269; 24,878 3,735i 20,943 281 1,334 -1,053 -21,785 4,941 May 34,212 2,510 31,702 705 673 32 16,464 26,580!-10,116 46 3,015 -2,969 -14,720 4,890 June 14,611 1,840 12,771! 711 662, 49: 8,435| 9,674!-1,239 2,653 5,190!-2,537 -16,923 7,123 July 10,738! 1,803 8,935 705 685! 20 13,071 6,061, 7,010 202 4,623 -4,421 -21,896 5,936 August 7,877! 1,524 6,3531 11,259 680 10,579! 21,469 5,782 15,687 103 2,477 -2,373 -12,053 2,860 September 12,979 24,444 -11,485; 1,483 876 607j 8,881 7,637! 744 125 47 78 -23,064 3,315 October 2,056 10,698 -8,642! 1,668 969 699 6,126| 4,726 1,400 189 35 154 -15,435 2,685 November 2,082: 55,286 -53,184! 1,627 975i 652 15,012 21,709i -6,696, 433 102 331 -16,456 4,408 December 10,431 77,849 -67,418; 1,635 925 710, 9,485 10, 546!-l,060! 4,264 2 4,262' -19,087 3,910 Total-—— 207,535 201,455 6,080. 47,622 9,135 38,487! 157,905 137,008' 20,896! 10,498 16,937 -6,439, -212,279 59,175 1928 January 38,320 52,086j -13.7661 1,113 704 409 20,042 10,875 9,167 12,725 12,716 -12,834 8,500 February 14,686 25,806| -11,120 6,074 844! 5,230 13,026 19,257, —6,231| 227 1,147 -920 -21,339 6,962 March 2,683 97,536! -94,853 9,018 L,008 8,010 6,289 78,605 -72,316 192j 7. 1S5 -18,303 9,544 April 5,319 96,4691 -91,150 29,834 822, 29,012 11,760 2,943 8,816 66 19 47 -17,923 8,250 May 1,968 83,689 —81,721: 1,175 688 487 18,746! 5,498 13,248| 157! 379 -222 -I7,33ti 8,664 June 20,000 99, 932! -79,932 11,278 707 10, 569 39, 672j 6,409 33,263i 51 -21,028 6,238 July 10,331 74,190j -63,859 28,024 632 27,392 23, 958| 9,436 14,522; 107! 31 76 -16,919 2,128 August 2,445 1, 698 747 14,058 765 13,293 24, 055. 20,180 3,875! 125; 22 103 -22,300 2,994 September -. 4,273 3,810! 463 37,084 783 36,301 19, 233! 28,247 -9,014' 389! 3 386 -15,315 1,680 N O o c v to e b m e b r e .. r *1 29 4 , ,3 5 3 9 1 1 22, 9 9 9 1 2 5; •13 6 , , 3 6 3 7 9 6 3 2 4 3 , , 1 26 4 1 6 8 94 4 3 4 ! 3 2 3 2 , , 3 3 0 1 2 8 1 2 5 2 , , S 2 2 6 4 1 i ' 4 4 5 1 , ,9 5 8 9 9 7 - - 2 1 9 9 , , 7 7 2 7 8 3 : 8 4 5 14 6 ! , 3 2 6 3 8 3 2 9 0 2 . _ 4,604 I * Revised. MOVEMENTS TO AND FROM GREAT BRITAIN MOVEMENTS TO AND..FROM BRITISH INDIA [In thousands of dollars} [In thousands of dollars] 1928 1928 1927 C o ou r n d t e r s y t i o na f t o io ri n gin November N J o a v n e u m ar b y e - r Calendar year Country of origin October J O a c n t u o a b r e y r - Calendar year or destination Im- Ex- Im- Ex- Im- Exports ports ports ports ports ports Im- Ex- Im- 1 Ex- Im- Exports ports ports ' ports ports ports France 39 I 373 163 96,881 627 4,718 Germany _..j 1 12,993 257 79, 232 190 17,034 England 8S7 9,319 13, 780 Netherlands ! 125 7,024 2,313 6,486 United States 4,074 ! 525 Russia i 49" 18, 513 1,049 7,732 Aden and depend- Spain and Canaries.j 9,733 9,733 191 7,445 encies 117 737 ! 1,288 Switzerland __i 742 12,944 6,213 Arabia . 98 5 629 ! 6 1,089 United States ! 12 20, 255 32,532 32,132 8,567 28,042 British Oceania 150 i 4, 126 2,224 South America I 1,141 1,074 2,017 6,959 Bahrein Islands 3 285 ' 730 British India _ 1,116 --- 10, 236 12,462 79 715 1 028 2 British Malaya ' _.._ 87 1,480 3,452 China 12 ' 127 186 Egypt ..-! 1,384 3,799 JVTesopotania 138 '• 1 171 1,160 Rhodesia— 457 4,896 i : 5,958 Straits Settlements _ 1 199 ! 42 375 91 Transvaal __J 9,715 130, 606 i 124, 348 Egypt 491 5 257 ; 7 361 West Africa ! 260 _ 3,027 ! 16 i 4,705 20 Natal _ 2,644 33,097 29,486 All other countries.., 1,995 5,927 13,801 26,442 ! 8,129 32,647 All other countries.. 1 44 49 II Total ! 22,261 41,989 214,866 269,037 ! 157,905 137,008 Total 4 6U - 59,736 ! 93 59, 280 104 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

34 FEDERAL RESERVE BULLETIN JANUARY, 1929 FOREIGN EXCHANGE RATES [Monthly averages of daily quotations.1 In cents per unit of foreign currency] EUROPE (s A ch u i s ll t i r n ia g) B (b el e g lg iu a m ) Bu (l l e g v a ) ria C ( z c v e r a c o k h w i o a n sl ) o- D ( e k n ro m n a e r ) k E (p n o g u la n n d d ) ( F m i a n r l k an k d a) F (f r r a a n n c c e ) G ( m e re r a i m c r h k a s ) n - y (d G ra r c e h ec m e a) H (p u e n n g g a o r ) y PIT value 14.07 13.90 0 72 (2) 26.80 ! 486.65 2.52 3.92 23.82 1.30 17.49 1927—December 14.0946 13. 9885 .7235 2.9G30 26.8192 488.2542 2. 5191 3.9396 23.8904 L.3294 17.4773 1928—May 14.0656 13.9597 .7191 2. 9624 26.8245 488.1594 2. 5174 3,9359 23.9292 1.3036 17.4589 June 14.0685 13.9615 .7199 2.9625 26.8173 488.0262 2. 5171 3. 9311 23.9009 L. 3023 17.4475 July 14.0852 13.9351 .7212 2.9624 26.7349 486.3571 2.5171 3.9163 23.8626 I. 2991 17.4350 August. 14.0860 13.9070 .7213 2.9623 26. 6890 485.3525 2. 5169 3. 9070 23.8327 L. 2952 17. 4273 September... 14. 0788 13. 8988 .7213 2. 9624 26.6662 485.0516 2. 5166 3. 9055 23. 8287 L 2937 17.4251 October 14. 6079 13.8959 .7203 2.9627 26. 6578 484.9500 2. 5167 3. 9061 23.8143 L. 2868 17. 4256 November 14.0602 13. 8966 .7193 2.9626 26. 6541 484.9213 2. 5173 3.9066 23. 8234 L. 2925 17.4220 December 14.0628 13.9073 . 7190 2.9624 26. 6868 485. 2442 2. 5170 3.9098 23.8325 L.2924 17.4185 I ( t li a r l a y ) N ( l f e a lo t n h r d i e n s r ) - N (k o r r o w ne a ) y P (z o l l o a t n y d ) P (e o s r c t u u d g o a ) l Ru ( m leu a ) nia ( R c n u h e s e s t r z i v a ) o 3 - (p S e p s a e i t n a) S (k w r e o d n e a n ) S ( w f l r a a i n t n z d c e ) r- ( Y s d l i u a n v g a i o r a - ) Par value 5.26 40.20 i 26.80 11.22 108.05 19.30 514.60 19.30 26.80 19.30 19.30 1927—December 5. 3800 40. 4381 26. 6169 11. 2204 4. 9550 .6188 < 515.0000 16.6623 27.0015 19.3150 L. 7615 1928—May 5.2688 40.3473 26.7829 11.2133 4.2207 .6194 * 515.0000 16.7309 26.8300 19.2724 1.7602 June 5. 2607 40.3331 26. 7845 11.2094 4.4258 .6152 * 515.0000 16.5681 26.8334 19.2754 L. 7605 July 5.2406 40.2479 26. 7270 11. 2011 4. 4565 .6136 « 515.0000 16.4759 26. 7843 19. 2612 L.7602 August 5.2334 40.1056 26. 6881 11. 2053 4. 5260 .6110 « 515.0000 16.6101 26.7619 19.2521 L.7598 September... 5. 2303 40.9646 26. 6656 11. 2032 4. 4966 .6098 « 515. 0000 16.5325 26. 7556 19. 2491 L 7596 October 5. 2365 40. 0908 26.6543 11.2012 4.4993 .6072 < 515.0000 16.1798 26. 7378 19.2447 L. 7591 November... 5. 2385 40.1374 26.6511 11.1985 4. 4708 .6042 * 515. 0000 16.1201 26. 7278 19. 2494 L. 7581 December 5.2369 40.1748 26.6728 11.1913 4.4082 .6005 i 515.0000 16.2348 26.7633 19.2729 :.7587 NORTH AMERICA SOUTH AMERICA Canada Cuba Mexico Argentina Bolivia 3 Brazil Chile Colombia3 Ecuador * Peru 3 Uruguay (dollar) (peso) (peso) (peso-gold)(boliviano) (milreis) (peso) (peso) (sucre) (libra) (peso) Par value 100.00 100.00 49.85 96.48 36 50 11.96 12.17 97.33 20.00 486.65 103.42 1927—December 99.8974 99. 9154 48.4506 97. 2304 34.8000 11.9677 12. 2062 97.7381 19.3750 389.8500 103. 8692 1928—May 99.9117 99.9615 48.5588 97.2008 34.8000 12.0327 12.1910 98.1923 20.0000 399.2692 102.9903 June 99.7605 99.9495 47.8267 96.9438 34.7615 11.9924 12.1980 98.1046 20.0000 399.5000 102. 2513 July 99. 7894 99.9344 47.2920 96.1408 34.8000 11.9385 12.1390 98.1024 20.0000 400.4800 102. 2849 August 99.9958 99.9667 47.4859 95.8955 35.3007 11. 9404 12. 0779 97.2604 20.0000 398.0000 102. 5100 September.._ 100. 0382 99.9441 47.8517 95.6642 36.4900 11.9293 12. 0860 97. 2596 20.0000 398.1250 102.1055 October. 99.9667 99.9270 47.5742 95.5933 36.4900 11.9477 12.0843 97. 5146 20.0000 399.0385 101. 8431 November..« 100.0043 99.9300 47.8901 95.8150 36.4900 11.9429 12.0603 97.1109 20.0000 400. 3043 102. 3049 December 99. 7872 99. 9332 47.9841 95.7504 36.4696 11.8900 12.0678 97.0900 20.0000 400.4000 102. 6068 SOUTH AMERICA— ASIA AFRICA continued Straits (b z V u o e e li n l v a e a 3 - r) ( d M C o e l h l x a i i n r c ) a a « n (S C t h a a h e n i l) n g a h 5 ai d ( C o Y l h l u a in a r) a n s (d H K o o o ll n n a g g r)« (r I u n p d e ia e) J ( a y p e a n n ) ( J f a lo v r a in 3 ) (Si S m n e g e t a t n l p e t o s - re ( T p T o u u u r r k k n e i d s y ) h (E p E g o g u y y n p p d t t i ) an dollar) Par value.. 19.30 45.29 62.92 44.80 44.96 36.50 49.85 40.20 56.78 439.65 494.31 1927—December 19.1700 45.9092 63. 7884 45.1877 50. 3085 36. 7369 46.1881 40. 5319 56. 7269 51. 7846 500. 5719 1928—May 19.2500 47.7899 66.4450 47. 2948 51.0168 36. 5913 46.6097 40.2446 66.1362 51.2023 500. 5540 June 19.2500 47.7930 66.2321 47.4815 50. 5411 36.4618 46. 6149 40.2327 56.1426 51.0877 500.4409 July.... 19. 2500 47.0840 65. 2332 46. 8483 49. 9917 36.2571 45.8476 40.1528 56.0416 50. 8384 498. 9014 August 19. 2500 46.9617 64.9965 46.8549 49.8974 36. 2501 45.0505 39. 9752 55.9815 51. 4607 497. 8298 September.. _ 19. 2500 46.1813 63. 6945 45. 9461 49. 7146 36.3312 45. 7832 40. 0300 56. 0731 51. 6896 497.4590 October 19. 2500 46. 5591 64.0374 46.1963 49. 9471 36.4541 46. 2019 40.1161 56.3404 50. 8354 497.4003 November. __ 19.2839 46. 5538 64.0020 46.1675 49.9763 36.4563 46. 3503 40.1226 56.4409 50.0867 497.2970 December 19.3800 46. 0455 63.5510 45. 6808 49. 7879 36.4653 45.8940 40.1396 56.2488 1 Based on noon buying rates for cable transfers in New York as certified to the Treasury by the Federal Reserve Bank of New York, in pursuance of the provisions of sec. 522 of the tariff act of 1922. For back figures see BULLETIN for January, 1928. pp. 56-62. 2 The National Bank of Czechoslovakia opened Apr. 1, 1926, under the obligation "to maintain the relation of the Czechoslovak crown to the undepreciated foreign gold currencies at the level of the last two years." During the period Apr., 1924, to Mar., 1926, inclusive, the range of the Czechoslovak crown was between 2.9193 cents and 3.0312 cents; the quotation on Mar. 31, 1926, was 2.9616 cents. s Averages based on daily quotations of closing rates as published by New York Journal of Commerce. 4 Nominal. 5 Silver currency. The figure given for parity represents gold value of unit in December, 1928, computed by multiplying silver content of unit by New York average price of silver for December, 1928, which was $0.57647 per fine ounce. On the same basis, parity in December, 1927, for the Chinese Mexican dollar was 45.78 cents; for the Shanghai tael, 03.60 cents;for the Yuan dollar, 45.28 cents; and for the Hong Kong dollar, 45.45 cents. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

35 JANUARY, 1929 FEDERAL RESERVE BULLETIN FOREIGN EXCHANGE RATES, 1922-1928 YEARLY AVERAGES [In cents per unit of foreign currency. For explanation see p. 8] Country Present monetary unit1 ex P c a h r a n o g f e 1922 1923 1924 1925 1926 1927 1928 Europe: Austria Schilling^ 14.07 0. 0097 0. 0014 0.0014 2 14.0612 14.0740 14. 0704 14.0743 Belgium Belga 1 13.90 7. 6829 5. 2190 4. 6438 4.7580 3 3.3721 13.9157 13. 9281 Bulgaria Lev l . . .72 . 6883 . 8837 .7281 .7317 .7210 .7235 .7207 Czechoslovakia . . Crown . 2. 4151 2.9550 2. 9542 2. 9656 2.9018 2. 9(122 2. 9625 Denmark Krone 20. 80 20. 9470 18.3043 16. 7228 21.1310 20. 2257 20. 7251 26. 7426 England Pound 480. 05 442. 9165 457.4825 441. 7064 482. 8944 485. 8235 4S0.1024 486. 6223 Finland Markka1 _. 2.52 2.1034 2. 0831 2. 5076 2.5218 2. 5209 2. 5197 2. 5173 France Franc 1 3.92 8. 2013 6.0811 5. 2308 4.7071 3. 2427 a.9240 3. 9210 Germanv. Reichsmark J . 23. 82 . 4323 .0020 5 22. 9980 23.8013 23.7990 23.7038 23.8614 Greece Drachma * 1.30 3.3059 1.7141 1.7900 1. 5014 1. 2579 1.3173 1. 3044 Hungary ._ Pengo ! . - -. 17. 49 . 0906 .0164 .0017 .0014 17. 5012 17.4741 17. 4443 Italy " " Lira 1 5.20 4. 7559 4. 0016 4. 3580 3. 9770 3.8894 5.1500 5 2571 Netherlands Florin 40.20 38. 4975 39.1005 38. 2109 40.1001 40. 0984 40.1065 40. 2238 Norwav ... Krone - 20. 80 17. 5016 16. 6710 13. 9403 17. 8836 22. 3347 26. 0477 26.6876 Poland Zlotv i 11.22 .0188 .0014 e 19. 2280 17.7432 11.1796 11.2881 11 2097 Portugal Escudo 108. 05 6. 0700 4. 2527 3.3850 5. 0397 5.1254 5. 0290 4. 4675 R Ru u s m si a a nia L C e h u ervonetz 5 1 1 9 4 . . 6 3 0 0 . 6969 . 4937 . 4982 .4832 7515. . 0 4 0 0 0 2 0 0 7 515. . 0 0 0 0 0 4 0 2 515 6 0 1 0 3 0 3 0 Spain Peseta . 19. 30 15.4828 14. 4529 13.3375 14.3443 14. 8959 17. 0592 16. 5942 Sweden Krona 26. 80 26.1661 20. 5548 20. 5223 20.8479 20. 7046 20.8148 26 8002 Switzerland Franc 19.30 19. 0652 18. 0000 18. 2228 10.3268 19.3130 19.2618 19. 2596 Yugoslavia Dinar 19.30 1.3524 1. 0722 1.2818 1. 7054 1.7647 1. 7598 1. 7598 North America: Canada Dollar 100 00 98. 4783 98. 0352 98. 7322 99.9615 99.9889 99.9720 99 9094 Cuba Peso 100. 00 99. 8516 99. 9508 99.9783 99. 9359 99.9310 99. 9675 99 9634 Mexico do - 49. 85 48. 7150 48. 5405 48. 5143 49.3926 48.3087 47. 2049 48 1067 South America: Argentina do 96.48 81. 8166 78. 5727 78.1308 91.3822 92.1497 90. 2950 96. 4801 Bolivia Boliviano * 36 50 34. 0941 34. 3913 35. 3911 Brazil Milreis * 11. 96 12. G4S6 10.2285 10. 9403 12.1962 14. 4357 11. 8383 11 9737 Chile Peso l 12 17 12 2159 12. 2423 10. 5448 11.6031 12. 0766 12, 0652 12.1451 Colombia do 97 33 98.4547 97. 0879 97 6937 Ecuador Sucre 1 . - 20.00 20. 0571 18.9724 19 9127 Peru Libra 486 65 374.0965 373.7739 397. 0488 Uruguay Peso 103.42 79.3966 79.0615 82. 2695 98.4009 101. 4740 101.3361 102. 6567 Venezuela . . Bolivar . 19.30 19. 2505 18.9835 19 2525 Asia: China Mexican dollar 8 45 95 54. 6337 52. 0153 52. 3642 55. 5471 49. 9159 45 0315 46 4716 China _ Shanghai tael8 63. 84 74. 9281 72. 0248 72. 6814 75. 7738 08. 4214 62. 0994 64. 3014 China Yuan dollar 8 45 45 55. 6073 52. 6223 52 6973 56. 9066 49. 9807 43 9414 46 1378 Hong Kong Dollars 45 62 55. 7126 52.8985 52. 4691 56. 5199 53.3290 49. 2085 50. 0717 India Rupee * 36.50 28. 7409 31.1103 31. 7835 36. 2642 36.3267 36.3117 36. 4663 Japan Yen 49.85 47.8037 48. 5845 41.1857 41.0362 47.1163 47.4113 46. 4096 Java Florin 40 20 40 2862 40 2377 40 2208 Straits Settlements Singapore dollar 56.78 50. 7753 53.4984 51. 2523 56.1546 56. 2705 56. 0476 56. 2838 Turkey Turkish pound 439 65 52 2549 51 3204 Africa: Egypt Egyptian pound 494 31 498. 0954 498.3123 1 In the following cases the present monetary unit with present par value was quoted for only a part of the period 1922-1928, and the averages given for earlier years are for the unit which has been superseded. Par Par Country Pr u i e n n s e i N t n f e t i w r m s t o Y q n u o e o t r a t k e r - d y mo P ne re ta v r i y o u u s nit m p v r o a e l n v u e i e o t a o u r f s y Country Pr u i e n n s e i N t n f e t i w r m s t o Y q n u o e o t r a t k e r - d y mo P n r e e ta v r i y o u u s nit I i p m v r a e o l v u n i e e o t o u a f s ry unit I unit Austria j Mar. 13, 1926 I Krone 20.26 j1 France \ Juno 25, 1928. Franc 19.30 Belgium Oct. 25, 1920 i Fianc ! 19.30 i Germany | Oct. 29, 1924. Mark. 23.82 Bolivia •• Aug. 20, 1928 i Boliviano < 38.93 ! Greece I May 14, 1928.. Drachma. 1 19.30 Brazil ! Dec. 18, 1926 | Milreis ! 32.44 ! Hungary , Jan. 2, 1920.. Kron< 20.26 Bulgaria ' Nov. 22, 1928 ! Lev 19.30 !; India .., Apr. 1, 192/ R upce 48.66 Chile Aug. 21, 1925 Peso j 30.50 I Italy Dec. 21, 1927-. Lira 19.30 Ecuador Mar. 19, 1927 Sucre 48. 66 • Poland Oct. 13, 1927... Zloty *__.. 19.30 Finland Doc. 21, 1925 • Markka 19.30 ;! * The zloty (par value 19.30 cents) superseded the Polish mark (par value 23.82 cents) May 26, 1924. 2 Average for schilling Mar. 13 to Dec. 31, inclusive. Average for krone, Jan. 2 to Mar. 12 was 0.0014 cent. 3 Average for franc Jan. 2 to Oct. 25, inclusive. Average for belga Oct. 26 to Dec. 31 was 13.9095 cents. 4 See note 2 on p. 34. * Average for 1,000,000,000,000 marks Jan. 2 to Oct. 28, inclusive. Average for rcichsmarks, Oct. 29 to Dec. 31 was 23.8008 cents. 6 Average for zloty May 26 to Dec. 31, inclusive. Average for Polish mark, Jan. 2 to May 24 was 0.0113 cent per thousand. 7 Nominal. 8 Silver currency. Par of exchange represents gold value of unit in 1928 computed by multiplying silver content of unit by New York average price of silver for 1928, which was $0.58488. Corresponding parities for the years 1922 to 1927 are as follows: i 1922 • 1923 : 1924 1925 t 1926 ; 1927 Mexican dollar --- : 53.37 : 51.25 • 52.72 54.53: 49.04; 44.53 Shanghai tael i 74.15. 71.21: 73.25 75.76 : 08.14! 01.87 Yuan dollar ' 52.79 50.70; 52.15 53.93, 48.51 j 44.05 Hong Kong dollar ! 52.99 50.89 52.35 54.14! 48.09 i 44.21 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

36 FEDERAL RESERVE BULLETIN JANUARY. 1929 FOREIGN EXCHANGE RATES, 1927-1928 MONTHLY AVERAGES [In cents per unit of foreign currency] j Austria Bulgaria i Denmark England Finland Greece Hungary 1927 January 14.0794 13.9072 0.7230 2.9618 • 26. 6488 485. 2648 2. 5208 3. 9584 23. 7216 1. 2895 17. 5332 February... 14.0841 13. 9023 .7242 2.9618 ! 26. 6495 485. 0282 2. 5208 3. 9232 23. 6977 1. 2979 17. 5314 March 14.0738 13.9000 .7246 2.9616 I 26. 6456 485. 4025 2. 5205 3. 9126 23.7137 1. 2898 17. 5074 April 14. 0736 13.9000 .7249 2.9616 ! 26. 6681 485. 6546 2. 5206 3. 9188 23.7011 1.3295 17. 4773 May 14.0674 13.8968 .7238 2.9615 ! 26.6784 485. 7020 2. 5201 3. 9168 23. 6924 1.3211 17. 4556 June 14.0625 13. 8900 .7218 2.9616 I 26. 7207 485. 6088 2. 5194 3. 9169 23.6923 1. 3430 17. 4438 July 14. 0695 13. 8980 .7232 2.9626 ! 26.7276 485. 5056 2. 5196 3.9112 23.7428 1.3232 17. 4376 August 14.0629 13. 9107 .7230 2.9627 i 26. 7785 486. 0233 2.5189 | 3. 9193 23.7859 1. 3083 17. 4363 September.. 14.0816 13. 9220 .7246 2.9626 26. 7680 486. 3528 2.5189 3. 9200 23.8004 1. 3243 17. 4688 October 14.0820 13.9260 .7229 2.9627 ! 26. 7932 486. 9676 2. 5187 3.9236 23.8624 1.3262 17. 4624 November. - 14. 0874 13.9467 .7230 2.9629 , 26. 7988 487.4012 2. 5191 3. 9288 23.8629 1. 3242 17. 4658 December._. 14.0946 13. 9885 .7235 2.9630 ! 26. 8192 488. 2542 2. 5191 3. 9396 23.890i 1. 3294 17. 4773 1928 January 14. 0936 13. 9444 .7234 2. 9628 26.7829 487. 5330 2. 5187 3.9308 23. 8264 1.3255 i 17. 4748 February 14.0823 13. 9232 .7214 2. 9625 26.7733 487.4840 2. 5179 3. 9304 23.8577 1. 3229 17. 4663 March 14. 0728 13. 9387 .7218 2. 9622 26. 7912 487. 9944 2. 5176 3.9343 23.9047 1. 3237 17. 4685 April 14. 0674 13. 9641 .7211 2.9624 26.8224 488. 2045 2. 5176 3. 9363 23. 9154 1. 3158 17. 4608 May 14. 0656 13.9597 .7191 2.9624 26. 8245 488.1594 2. 5174 3. 9359 23. 9292 1. 3036 17.4589 June 14. 0685 13.9615 .7199 2. 9625 26. 8173 488. 0262 2. 5171 3. 9311 23. 9009 1. 3023 17.4475 July 14.0852 ! 13.9351 .7212 2.9624 26. 7349 486. 3571 2. 5171 3. 9163 23. 8626 1. 2991 17. 4350 August 14.0860 i 13.9070 .7213 2. 9623 26. 6890 485. 3525 2. 5169 3.9070 23.8327 , 1. 2952 17.4273 September.. 14.0788 | 13.8988 .7213 2. 9624 26. 6662 485. 0516 2. 5166 3.9055 ' 23.8287 1. 2937 17.4251 October 14.0679 13.8959 .7203 2. 9627 26. 6578 484. 9500 2. 5167 3.9061 : 23.8143 1.2868 17. 4256 November.- 14.0602 13.8966 . 7193 2. 9626 20. 6541 484. 9213 2.5173 . 3. 9066 23.8234 1. 2925 17. 4220 December... 14.0628 13.9073 .7190 2. 9624 26. 6868 485. 2442 2.5170 1 3.9098 23.8325 1. 2924 17. 4185 I Italy N la e n th d e s r- Norway- Poland : Portugal | Rumania | Russia1 Spain I Sweden Sw l i a t n ze d r- Y sl u av g i o a - 1927 January 4.3448 39.9868 25.5700 11. 3076 5.1152 0. 5306 515. 0000 16.0340 26. 7056 19. 2740 1. 7635 February... 4.3182 40. 0041 25. 7759 11. 3391 5.1155 .5743 ! 515. 0000 16.7805 | 26. 6864 19. 2318 1. 7605 March 4. 5059 40. 0137 26. 0474 11. 3703 5.1170 .6128 ! 515.0000 17.4088 26. 7452 19. 2359 1. 7593 April 5.0204 40.0023 25. 8592 11.4226 5.1138 .6157 j 515. 0000 17.6385 26. 7788 19. 2323 1. 7581 May 5.4016 40. 0196 25. 8360 11.3816 5.1220 .6176 , 515. 0000 17.5912 26. 7480 19. 2324 1. 7579 June 5. 5819 40. 0515 25. 8896 11. 3065 5. 0419 .5964 515.0000 17.1988 26. 7792 19. 2365 1. 7577 July 5.4488 40. 0600 25. 8352 11. 2500 5. 0008 .6094 515.0000 17.0856 26. 7784 19.2528 1. 7585 August 5.4396 40. 0719 25.9374 11. 2240 4.9574 .6163 515.0000 16.9000 26.8203 19. 2759 1. 7596 September.. 5.4432 40. 0776 26. 3620 11. 2168 4.9288 .6181 ! 515.0000 17.1504 26. 8752 19. 2816 1. 7604 October 5.4616 40.1920 26. 3404 11. 2096 4.9456 .6193 515. 0000 17. 2540 26.9236 19. 2868 1. 7607 November.. 5.4458 40. 3612 26.4871 11. 2063 4. 9396 .6155 515. 0000 16. 9400 26. 9246 19. 2850 1. 7607 December... 5. 3800 40. 4381 26. 6169 11. 2204 4.9550 .6188 515. 0000 16. 6623 27. 0015 19. 3150 1. 7615 1928 January 5. 2881 40. 3334 26.5985 11. 2402 4.9285 .6177 515. 0000 17.0975 26. 8780 1. 7625 February 5. 2930 40. 2550 26.6098 11. 2312 4. 7573 .6145 I 515. 0000 16. 9782 26.8371 19. 2389 1. 7598 March 5. 2822 40. 2501 26. 6634 11. 2255 4. 2572 .6185 515. 0000 16. 8212 i 26. 8388 19.2561 1. 7596 April 5. 2764 40. 3091 26.7390 11.1968 4. 2101 .6273 515. 0000 16.7641 26. 8492 19.2713 1. 7599 May 5. 2688 40. 3473 26. 7829 11. 2133 4. 2207 .6194 515. 0000 16. 7309 ; 26. 8300 19.2724 1. 7602 June.. 5. 2607 40. 3331 26. 7845 11. 2094 4.4258 .6152 515. 0000 16.5681 ' 26. 8334 19. 2754 1. 7605 July 5. 2406 40. 2479 26. 7270 11. 2011 4. 4565 .6136 515. 0000 16.4759 ' 26. 7843 19. 2612 1. 7602 August 5. 2334 40.1056 26.6881 11. 2053 4. 5260 .6110 I 515. 0000 16.6101 ! 26.7619 19. 2521 1.75918 September.. 5. 2303 40.0946 26. 6656 i 11. 2032 4. 4966 .6098 I 515. 0000 16.5325 ' 26. 7556 19. 2491 1. 7596 October 5. 2365 40.0908 26.6543 11. 2012 4.4993 . 6072 515. 0000 | 16.1798 i 26. 7378 19.2447 1. 7585 November.. 5. 2385 40.1374 26.6511 i 11.1985 4. 4708 .6042 !515. 0000 I 16.1201 i.26. 7278 19. 2494 1. 7581 December... 5. 2369 40.1748 26.6728 i 11.1913 4. 40S2 .6005 !515.0000 [ 16. 234S 26.7633 19. 2729 1. 7587 1 Chervonetz quotations nominal. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 37 FOREIGN EXCHANGE RATES, 1927-1928—Continued MONTHLY AVERAGES—Continued Canada ' Cuba ! Mexico Argentina1 Bolivia Brazil Chile i Colombia i Ecuador Peru Uruguay | 1927 January 99.8393 99.9466 46.8267 I 33.7500 11.6752 12. 0236 98.0280 18. 3125 361.1200 101. 5220 February... 99.8382 100.0679 47.0737 I 94.7186 ; 33.9432 11. 8382 12. 0005 97.9468 I 18. 3096 366. 3636 101. 4623 March 99.9019 100. 0265 47.0084 ! 95.9811 ! 34. 0000 11. 8452 12. 0041 97.5663 I 18.3125 366. 5926 101. 2763 April 100. 0942 100. 0260 46. 8681 96.1738 ; 34. 0000 11.7965 12. 0327 97.3258 I 18. 3125 363. 3077 101. 9750 May 100. 0658 99.9606 46.5867 96.2008 : 34. 0000 11.8084; 12. 0204 97.4688 ! 18.3125 364. 6400 100. 7088 June 99.9360 99.9150 46. 4197 96.4373 | 34.4231 11.8050 i 12.0235 97.4196 I 19.6019 374. 4231 100. 3708 July 99.8520 99.9288 46. 5383 96.5540 '.34. 5950 11.7916 ! 12. 0224 97.5345 I 19.5750 374. 6000 99.1684 August 99. 9404 100.0073 47. 3931 96.8448 ' 34.7546 11.8237 ' 12.0292 98.2798 19.3750 374.9626 100.1381 September.. 100. 0497 99.9524 47. 7219 97.1248 | 34.8000 11.8596 j 12. 0736 97.9872 ! 19.3750 388. 5600 100. 4052 October 100.1099 99. 9387 47. 6667 97.1572 i 34. 8000 11.9172 12,1712 97.4736 : 19.3750 ;384.1600 101.8796 November.. 100.1369 99. 9289 47. 9125 97.0521 j 34.8000 11.9333 ! 12.1763 97.4950 I 19.3750 376.1458 103. 3658 December... 99. 8974 99.9154 48.4506 97.2304 : 34.8000 I 11.9677 | 12. 2062 97.73S1 | 19.3750 '•389. 8500 103.8692 i 1928 January 99. 8159 99.9157 I 48.6946 97.1136 34.8000 I 11.9977 12.2098 i 98.0036 I 19.3750 390. 3400 102. 7734 February... 99. 8126 100.0428 I 48.6710 97.1376 34.8000 12. 0088 12.2065 I 98.0400 i 19.5870 ! 390.1600 I 102. 9357 March 99. 9963 100.0644 | 48.7436 j 97. 2547 34.8000 12.0265 12.2115; 97.7944 | 19.9537 i 391.0925 103.6775 April 100.0290 99.9877 I 48.7387 , 97.1915 34. 8000 12. 0329 12.2038 I 98.2128 '. 20.0000 i 397.7600 | 103. 5345 May 99. 9117 99.9615 ! 48.5588 ! 97. 2008 34. 8000 12. 0327 12.1910 | 98.1923 ! 20.0000 399.2692 j 102. 9908 J J u u n l e y.. 9 9 9 9 . . 7 7 6 8 0 9 5 4 9 9 9 9 . . 9 9 4 3 9 4 5 4 ! i 4 4 7 7 . . 2 8 9 2 2 6 0 7 ' ; 9 9 6 6 . . 1 9 4 4 0 3 8 8 3 34 4 . . 8 8 0 0 0 0 0 0 1 11 1 , . 9 9 3 9 8 2 5 4 1 1 2 2 . . 1 1 3 9 9 8 0 0 ! ; 9 98 8 . . 1 1 0 0 2 4 4 6 : 2 2 0 0 . . 0 0 0 0 0 0 0 0 !3 4 9 0 9 0 . . 5 4 0 8 0 0 0 0 1 1 0 0 2 2 . . 2 2 S 5 4 1 9 3 A Se u p g t u e s m t ber.. 1 9 00 9. . 0 9 3 9 8 58 2 9 9 9 9 . . 9 9 4 6 4 6 1 7 j 4 4 7 7 . .4 8 8 5 5 1 9 7 ] 9 9 5 5 . . 6 8 6 9 4 5 2 5 3 3 5 6 . .4 3 9 0 0 0 0 7 1 11 1 . . 9 9 4 2 0 9 4 3 1 1 2 2 . . 0 0 7 8 7 6 9 0 i 9 9 7 7 . . 2 2 6 5 0 9 4 6 , 2 2 0 0 . . 0 0 0 0 0 0 0 0 ; !3 3 9 9 8 8 . . 0 1 0 2 0 5 0 0 1 10 0 2 2 . . 1 5 0 1 5 0 5 0 N Oc o t v o e b m er ber.. 1 9 0 9 0 . . 9 0 6 0 6 4 7 3 9 9 9 9 . . 9 9 2 3 7 0 0 0 ! i 4 47 7 . . 8 5 9 7 0 4 1 2 ! 9 9 5 5 . . 8 5 1 93 5 3 0 3 36 6 . . 4 4 9 9 0 0 0 0 1 1 1 1 . . 9 9 4 4 2 7 9 7 1 1 2 2 . . 0 0 8 6 4 0 3 3 i ! 9 9 7 7 . . 5 1 1 1 4 0 6 9 I 2 2 0 0 . . 0 0 0 0 0 0 0 0 I i 3 40 9 0 9 . . 0 3 3 0 8 4 5 3 1 1 0 0 1 2 . . 8 3 4 0 3 4 1 9 December.. 99. 7872 99.9332 ! 47.9841 95. 7504 36.4696 11.8900 12. 067! 97.0900 ; 20.0000 400. 4000 102. 6068 Venezuela (M dd C o e h ll x l i la i n ) c r aa ) a n (S t h C h t h la a h )e n i l n gg ) a h a a I i: j d ( C Y o h l u l i a n a r n a ) H K o o n n g g India Japan Java S S m t e e r t n a t i l t t e s s - Turkey , Egypt 1927 : J F a e n b u r a u r a y r y ! : 1 1 8 9 . .0 7 6 6 0 4 0 1 4 45 6 . . 2 5 0 2 6 7 8 3 6 6 1 3 . . 6 7 6 7 8 6 8 4 4 43 5 . . 1 9 1 1 8 9 6 6 4 5 9 0 . . 0 3 6 6 3 0 2 5 3 3 6 6 . . 2 4 9 1 6 6 8 4 ! j 4 4 8 8 . . 8 8 3 1 5 0 0 8 4 4 0 0 . . 2 1 3 7 7 5 5 6 : 5 55 5 . . 9 9 6 6 1 2 6 3 5 50 0 . . 8 4 8 4 9 5 1 2 : . 4 4 9 9 7 7 . . 2 4 8 8 7 6 7 8 A M p a r r i c l h \ ' 1 1 8 8 . . 7 7 5 5 0 0 0 0 4 45 4 . .1 5 3 3 4 8 1 8 6 6 0 2 . . 0 5 1 04 3 8 8 4 4 2 3 . . 8 9 9 0 5 6 6 2 4 49 8 . . 6 6 8 8 5 6 5 5 3 3 6 6 . . 3 1 0 4 0 2 4 3 ! ; 4 48 9 . . 1 3 4 7 1 3 1 8 4 40 0 . . 1 1 5 7 0 0 3 2; 5 5 5 5 . . 9 9 5 5 5 3 6 5 5 5 0 0 . . 3 90 1 3 2 5 2 ! 4 4 9 9 7 7 . . 6 8 6 9 7 8 0 1 May | 18.7500 45. 6136 62.1680 43. 6964 49. 2716 36.2332 47. 0832 40.1638 55. 9896 52.2232 | 497. 9792 June. 18.7620 45. 5077 62. 7362 44. 5215 49. 0742 36.1973 i 46. 6896 40.2079 55. 9807 51.9992 497. 8950 July I 19.1280 44. 6004 62. 2760 43. 5804 48. 9772 36.1108 ' 47.1312 40.1963 i 55. 9600 51.0544 497. 7768 August ! 19.1552 43. 3807 60. 3781 42. 6259 48.1600 36.1252 j 47. 3322 40.1740 55. 9711 49. 9774 498. 2844 September _l 19.1700 43. 9572 61. 2068 43. 2164 48. 4980 36.3356 ! 46. 8248 40.1675 ; 55. 9908 50. 9640 498. 6508 October ! 19.1700 44. 7376 , 61. 8328 44.0600 48. 8552 36.4092 ! 46. 5664 40. 2618 56. 0332 52.9624 499. 2900 November 19.1700 45. 5958 63. 2663 44. 8638 49. 7917 36.4504! 45. 9796 40.4090 56. 0687 52. 4871 499. 6888 December 19.1700 45. 9092 63. 7884 45.1877 50. 3085 36.7369 i 46.1881 40. 5319 56. 7269 51. 7846 500. 5719 i 1928 January 19.1700 45. 7410 63. 7548 45.1408 50. 4096 36. 7224 46. 8784 40.5596 ' 56. 7650 51. 5040 499. 8315 February. 19.1943 45. 3620 63.1137 44. 9818 49. 8564 36. 5189 46. 8740 40. 5243 56. 7038 50.4843 499. 7511 March. 19. 2500 45. 6106 63.0545 45. 3688 49. 8008 36. 5280 47.1463 40. 3498 56. 3469 50. 5000 500. 3780 April 19. 2500 45. 7972 63. 2502 45. 4958 49. 8658 36. 5647 47. 7136 40. 2228 56. 2508 51. 2023 500. 6343 May 19. 2500 47. 7899 66.4450 47. 2948 51.0168 36. 5913 46. 6097 40. 2446 56.1362 51. 2023 500. 5540 June 19. 2500 47. 7930 66. 2321 47.4815 50. 5411 36. 4618 46. 6149 40. 2327 56.1426 51. 0877 500. 4409 July... 19. 2500 47. 0840 65. 2332 46. 8483 49. 9917 36. 2571 45. 8476 40.1528 56.0416 50. 8384 498. 9014 August 19. 2500 46. 9617 64. 9965 46. 8549 49. 8974 36. 2501 45.0505 39.9752 55. 9815 51. 4607 497. 8298 September. 19. 2500 46.1813 63. 6945 45. 9461 49. 7146 36. 3312 45. 7832 40,0300 56. 0731 51. 6896 497. 4590 October 19. 2500 46. 5591 64. 0374 46.1963 49. 9471 36. 4541 46. 2019 40.1161 56. 3404 50. 8354 497. 4003 November . 19. 2839 46. 5538 64. 0020 46.1675 49. 9763 36. 4563 46. 3503 40.1226 56. 4409 50. 0867 497. 2970 December.. 19.3800 46.0455 63. 5510 45. 6808 49.7879 36.4653 | 45. 8940 40.1396 56. 2488 26516—29 4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

38 FEDERAL RESERVE BULLETIN JANUARY, 1929 PRICE MOVEMENTS IN PRINCIPAL COUNTRIES WHOLESALE PRICES ALL COMMODITIES EUBOPB United States France Ger- Month o ( S B f t L t i u a c a r t s b e i ) s a o » - u r b ( A t g a r u s o i i a s l s d - ) g B iu e m l- g B a u ri l a - C v z a s e k lo c i - h a o ' - m D a e r n k - T (B E l r a a o o n n d a g f d r e - d ) b ( l F g a a i s n o n i d l s - d ) S t t i a c t a i l s- R Fe e d se e r r v al e S c m ( a t e F a l a r t e B i a n d s l y u t - i - - b H f a g u s d i n s d - ) (B It a a c ly hi) N la e n th d e s r- ( N O w o s a l r y o - ) Bureau Board reau) 1927 March 05 133 858 2,649 076 153 141 143 641 600 135 128 545 144 160 April 04 135 846 2,502 070 152 140 143 636 610 135 130 521 143 159 May - - - 04 137 848 2,751 088 152 141 142 620 618 137 133 406 146 160 June. - 94 142 851 2,823 090 152 142 144 623 605 138 133 47S 148 159 July 04 140 845 2,775 002 152 141 144 617 500 138 133 467 160 160 August . 95 133 850 2,745 083 153 141 147 618 678 138 134 465 149 161 September 07 130 837 2,738 075 153 142 148 601 574 140 133 465 150 158 October ... 97 129 839 2.747 066 154 141 148 587 554 140 133 468 150 157 November.------ 97 127 838 2,707 067 154 141 140 505 545 140 133 466 152 157 07 127 841 2,739 075 154 140 148 604 567 140 135 463 152 156 1928 January .. « 120 851 2,782 982 153 141 144 607 569 139 135 463 154 157 February 96 128 848 2,826 985 152 140 143 609 569 138 134 461 151 157 March > .. . . 96 129 848 2,839 978 153 141 144 623 587 139 135 464 153 157 April 97 131 847 2,891 984 154 143 145 619 601 140 136 464 153 156 May 99 131 844 2,906 987 155 144 143 632 617 141 135 465 152 156 June -. 98 133 844 2,866 986 155 143 145 626 621 141 135 462 152 158 July 98 133 841 2,911 979 155 141 145 624 613 142 133 453 148 160 August 99 133 831 2,790 996 154 139 147 616 607 142 134 456 145 153 September 100 131 830 2,805 986 151 138 146 620 598 140 137 458 146 153 October 98 129 835 2,844 971 150 138 146 617 585 140 138 463 146 151 November ._ 97 128 847 957 151 138 145 626 580 140 137 148 150 December— 127 855 140 150 iTJBOPi—continued ASIA ANDOCEANIA AFRICA Month la P nd o - 3 4 Russia2 Spain Sweden S l w a i n tz d e 3 r- Canada Peru t A ra u l s i - a ( C S h h h a a i i n n ) a g- D I E n u d a t i s c e t h s c I ( u n C t d a t i a l a - ) J k ( a T y p o o a - ) n N l Z a e e n a w d - ( E C g a y ir p o t ) S A o fr u ic th a 1927 March ... . 98 179 179 145 141 149 206 150 175 154 140 171 147 124 April 101 177 177 143 140 149 201 151 173 154 145 170 147 122 126 May 102 175 172 145 142 152 207 152 171 155 146 171 145 124 June .... 102 174 171 146 141 154 206 155 169 155 149 173 146 123 July 102 173 168 146 141 152 205 161 171 153 150 170 148 118 120 August 101 171 168 146 143 152 204 165 171 154 151 167 146 117 September.. ... 101 170 169 148 144 151 205 170 172 153 150 160 146 120 October . •_, 101 170 169 147 145 152 200 173 160 152 147 170 146 118 122 November -_ - 102 170 168 148 147 152 200 166 * 166 151 148 168 147 115 December ... 101 170 169 148 146 152 199 162 164 150 148 168 148 114 1028 January 100 171 166 148 145 151 199 163 163 150 145 169 150 114 120 February . _ 99 171 166 147 144 151 195 160 164 149 144 169 147 114 March 102 171 165 149 145 153 193 160 163 149 144 169 147 116 April 105 171 166 151 146 153 197 162 163 150 146 170 147 120 121 May 103 171 164 152 145 153 195 159 165 151 147 171 148 117 June 103 172 164 151 145 150 195 158 160 150 145 169 148 117 July 102 172 164 150 144 150 193 157 159 150 148 169 148 117 119 August 100 173 *166 149 145 149 190 154 157 148 143 170 147 119 September 100 173 *168 146 145 150 188 153 156 149 i 142 174 148 : 120 October 104 17G *174 145 145 150 187 152 159 143 174 147 1 126 November 106 176 145 145 149 186 159 146 173 I 129 December 185 160 * Revised. 1 New index—1923»100. 1 First of month figures. 1 New official index. * 1927=100. NOTB.—These indexes are in most cases published here on their original bases, usually 1913 or 1914, as determined by the various foreign statistical offices which compile the index numbers and furnish them to the Federal Reserve Board. In several cases, however, viz, France, Netherlands, Japan, New Zealand, and South Africa, they have been recomputed from original bases (1901-1910; 1910-1910; October, 1900; 1909-191?; 1910) to a 1913 base. Index numbers of commodity groups for most of the countries are also available in the office of the Division of Research and Statistics and may be had upon request. Further information as to base periods, sources, numbers of commodities, and the period of the month to which the figures refer may be found on pages 769-770 of the BULLETIN for November, 1927. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

39 JANUARY, 1929 FEDERAL RESERVE BULLETIN WHOLESALE PRICES—Continued GROUPS OF COMMODITIES [Pre-war-100] ENGLAND—BOARD OF TRADE SWEDEN—BOARD OF TRADE 1928 1927 1928 1927 v N b e e o m r - - O b c e t r o- t S b e e e m p r - . g A u u s - t July | N b v o e e - r m- v N b e e m o r - - O b c e t r o- t S e b e m e p r - - g A u u s - t July v N b e e o m r - - All commodities 138 | 138 139 141 141 All commodities 145 145 146 149 150 148 Total food 149 I 148 148 151 153 152 Vegetable products 131 131 134 140 143 141 Cereals 143 ! 142 141 146 151 152 Animal products 147 144 145 143 142 146 Meat and fish 142 j 138 141 143 140 138 Fuels and oils 115 113 112 111 112 113 Other foods 159 ! 165 160 163 167 166 Raw materials for manu- Industrial products 132 : 132 132 133 135 135 facture in iron and metal Iron and steel 112 i 112 112 112 112 114 industry _ 116 ' 115 115 114 114 115 Ot m he e r t al m s. i . nerals and 114 l 113 112 110 110 i 114 R Pa a p w e r m p a u t l e p r i a a n ls d f p o a r p m er anu- 160 160 161 161 161 157 Cotton 161 ' 160 158 162 172 | 167 facture in leather indus- Other textiles..,.,.. 159 i 158 162 166 168 161 try 139 141 145 146 148 140 Miscellaneous 138 ; 141 141 143 143 ' 144 Raw and manufactured chemicals 166 165 164 164 165 166 Raw materials 140 139 139 147 147 142 Semifinished materials 144 : 145 147 149 154 149 FRANCE-STATISTICAL BUREAU Finished materials 148 : 148 149 149 149 150 Producers' goods 136 136 137 141 143 137 Consumers' goods 152 152 154 155 155 156 All commodities 626 617 | 620 616 624 595 All foods 608 595 j 603 589 610 543 Animal foods 604 ; 573 565 545 546 505 Vegetable foods 604 , 594 586 624 551 CANADA—DOMINION BUREAU OF STATISTICS Sugar, coffee, cocoa 610 ! 690 676 703 594 All industrial material 641 , G35 ', 634 639 636 636 T M e i x n t e il r e a s ls 8 5 0 5 7 1 - : 5 79 3 4 6 i | 5 7 3 8 5 4 5 8 2 1 5 2 8 5 1 2 3 5 5 77 3 3 5 T A o ll t a c l o r m aw m o m d a it t i e e r s i - a . ls. 1 1 4 4 9 8 *1 1 5 5 0 0 1 1 5 5 0 0 1 14 4 9 9 1 15 5 0 0 1 1 5 5 2 4 Sundries 620 ! 624 i 627 629 623 638 Total manufactured goods- 147 147 148 148 148 148 Vegetable products.. 143 *146 144 148 152 160 Animal products 156 159 161 152 147 147 Textiles 163 164 163 166 169 172 GERMANY-FEDERAL STATISTICAL BUREAU Wood and paper products. 155 •154 156 156 156 154 Iron and its products 141 139 139 139 138 141 Nonferrous metals 98 96 95 96 96 95 All commodities..- ! 140 N on metallic minerals 172 . 172 172 172 171 170 Total agricultural products ; 135 Chemicals 148 ; 149 149 149 149 151 Vegetable foods j 127 Cattle j 119 Animal products 164 Fodder 139 AUSTRALIA-BUREAU OF CENSUS AND STATISTICS Provisions.. 128 Total industrial raw mater p i r a I o C l r s d o o u a n a c l n ts d semi-finished I i ! 1 1 1 3 2 3 8 8 5 j j ! ; A M T A e l g e l x r t c t i a i c o l l u s e m l s t a m u n r o d a d l c it o p i a e r l o s ducts ! j L _ ! . . 1 1 1 1 5 7 5 5 2 4 8 2 , 1 1 1 5 7 5 5 3 4 7 2 1 1 1 1 5 7 5 5 4 4 5 7 1 1 1 1 7 5 6 6 4 7 6 2 1 ! 1 1 1 1 6 7 6 8 6 6 8 0 T N e o x n t f i e l r e r s o . u . s metals | 1 1 5 0 2 9 ! j D Gr a o ir c y e ri p e r s o a d n u d c t to s. b . acco __. L L 1 1 4 6 6 4 1 16 4 5 7 1 1 6 4 5 5 1 1 6 4 5 8 1 1 6 4 9 7 Hides and leather I 142 j Meat... L 112 116 117 122 148 C A h rt e if m ic i i c a a l l s f ertilizers— _ | 1 8 2 3 7 j ! B C u h i e l m di i n c g a ls m aterials | | . . 1 1 6 8 1 6 1 1 6 8 1 6 1 1 6 8 2 6 1 1 5 8 9 6 1 18 4 6 1 Technical oils and fats. I 129 ' Rubber ___J 25 , Paper materials and ! ! paper 152 i INDIA (CALCUTTA)-DEPARTMENT OF STATISTICS Building material 159 Total industrial finished I j products j 160 ! Producers'goods ! 139, Consumers'goods I 176 ITALY—CHAMBER OF COMMERCE OF MILAN All commodities ! 143 Cereals .1 135 All commodities 495 492 488 486 488 484 Pulses —J 164 Total food 563 563 549 543 549 525 Tea ! 133 Vegetable foods 581 587 577 576 584 549 Other foods ! 151 Animal foods 539 532 515 502 506 Oilseeds... I 148 All industrial products 469 465 464 464 465 Raw jute I 99 Textiles 447 450 446 447 462 441 Jute manufactures i 145 Chemicals. 448 435 435 435 438 446 Raw cotton i 159 Minerals and metals 438 432 428 428 426 441 Cotton manufactures i 161 Building materials 525 519 516 517 517 535 Other textiles , j 140 Other vegetable prod- Hides and skins ; 124 ucts 504 504 519 513 483 495 Metals- : 126 Sundries 554 556 556 556 556 553 Other articles I 130 * Re vised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

40 FEDERAL RESERVE BULLETIN JANUARY, 1929 RETAIL FOOD PRICES AND COST OF LIVING RETAIL FOOD PRICES [Pre-war = 100] EUROPEAN COUNTRIES OTHER COUNTRIES United Month ( S 51 ta t c e i s t- e A t ( n r V u n i s a i - a - ) g B iu e m l- i; ! g B a u r i i - a C Sl z o e v c a h k o i - a i 'l E a n n g d - 3 E i sto- F (P ra a n ri c s e ) m Ge a r n - y G ( r e A e n t s e h ) c - e ; ( I I M a t n i al ) - yN la e e n r t - d h s - N w o a r y - j ; R si u a s 2 - S l z a w e n r i d - t- a C d a a n - 2 A t l u r i s a a - - b ( I B a n o d y i m ) - a N l Ze a e a n w - d l A So fr u ic th a 1927 January... 156 119 207 2,586 914 167 119 592 151 2,002 625 147 180 208 158 153 155 148 116 February.. 153 119 210 2,569 914 164 120 585 152 1,995 642 146 177 208 158 151 152 146 117 March 151 118 201 2,533 915 162 118 581 151 1,997 635 146 173 205 157 149 152 146 118 April 151 119 200 2,478 923 155 118 580 150 2,021 617 145 169 203 156 146 151 145 119 May. 152 119 196 2,630 930 154 119 589 151 2,063 565 145 139 201 156 145 150 145 121 June 155 122 201 2,699 949 154 120 580 153 2,063 541 145 172 199 157 146 151 I 144 120 July.... 150 122 205 2,653 962 159 122 557 156 2,059 524 144 175 199 156 147 154 119 August 149 120 202 2,625 914 156 118 539 150 2,044 518 143 175 199 156 147 155 118 September. 151 119 206 2,615 910 157 111 532 151 2,070 509 143 174 198 158 147 151 117 October... 153 120 210 j 2,626 907 i 161 112 520 152 2,071 509 146 173 198 158 148 148 119 November- 153 119 211 ! 2,587 905 !163 113 500 152 2,086 510 148 171 199 159 149 147 116 December . 153 118 212 ; 2,618 913 i163 113 523 153 2,101 513 148 171 200 159 151 149 119 1928 January... 152 118 211 2,660 913 162 118 530 152 3 146 3 140 148 170 ;201 158 151 151 147 119 February.. 149 117 207 2,701 910 159 118 522 151 '3144 3 141 149 170 202 157 149 146 145 118 March 148 116 201 2,713 902 155 122 524 151 143 3 141 150 171 |203 156 147 142 ! 145 118 April 149 117 202 ! 2,766 905 155 126 532 152 144 U41 150 171 ! 203 156 146 140 119 May 151 117 197 j 2,778 908 156 126 546 151 145 3 140 j 150172 !205 156 146 140 120 June 150 122 200 ! 2,740 928 157 126 M13 152 144 » 142 I 150170 206 157 145 142 114 July 150 119 202 ! 2,783 943 156 130 Ull 154 ; 3 138 • 140 j 150173 211 157 146 143 118 August 151 120 205 I 2,667 943 156 « 111 156 ; 134 « 138 150 170 :211 156 149 142 115 September.' 155 120 210 | 2,682 928 156 3 110 153 i 132 3 140 148 164 i210 157 150 141 115 October i 153 215 2,719 907 157 3 115 152 |3 137 3 141 148 163 211 158 152 142 115 November-| 154 223 ! 3 119 152 148 161 j213 152 144 December. _ 153 161 : 145 COST OF LIVING [Pre-war—100] EUROPEANCOUNTBIES OTHER COUNTRIES Mas* sa- Month s ch e u tt - s g B lu e m l- ^s C lo z v e a ch k o ia - l E a n n g d - 1 l F a i n n- d F (P r a a r n i c s e )m G a e n r y - G ( e A r n e t s e h ) c - e H ga u r n y - I ( l t M a a n l i ) y - l N a e e n r t d - h s - N w o a r y - la P n o d - * Spain S d w en e- S l z a w e n r i d - t- a C d a a n » A tr u a s- - < In 5 d 3 i f aS A o fr u i t c h a 1927 January... 158 198 747 175 1,187 145 1,900 119 655 195 171 160 152 156 130 February.. 157 200 746 172 1,189 145 1,896 120 667 194 160 151 155 130 March 156 195 744 171 1,183 524 145 1,898 119 663 166 203 98 197 159 150 156 155 131 156 195 749 165 1,173 146 1,911 119 651 100 191 170" 158 148 153 181 May 157 193 756 164 1,166 147 1,938 119 612 101 186 160 148 ...... 152 132 June 156 196 761 163 1,184 525 148 1,951 121 586 167 201 101 185 160 149 155 154 132 July . 155 199 753 166 1,203 150 1,980 119 548 98 184 "l69" 160 149 156 132 August 155 198 739 164 1,237 147 1,951 119 543 99 192 160 149 ...... 157 131 September. 155 202 736 165 1,230 507 147 1,955 119 537 167 197 99 187 161 149 157 154 131 October 155 207 734 167 1,237 150 1,956 120 636 101 189 172~ 161 150 151 132 November. 157 208 735 169 1,251 151 1,964 120 536 103 188 162 150 150 132 December. 157 208 740 169 1,243 498 151 1,978 120 531 170 195 103 186 162 151 159 151 132 1928 January... 157 210 741 168 1,216 151 3 155 121 1145 102 178 171 161 151 154 132 February.. 156 207 739 166 1,206 151 3 154 120 1 145 100 175 161 150 148 131 M Ap a r r i c l h 1 1 5 5 5 5 2 2 0 0 5 4 7 74 3 1 7 1 1 6 6 4 4 1 1 , ,2 2 1 1 4 2 507 1 1 5 5 1 1 3 3 1 1 5 5 3 3 1 12 1 1 9 • 1 1 1 4 4 5 5 169 193 1 1 0 0 1 2 1 1 7 7 6 5 "In 1 1 6 6 0 0 1 1 4 4 9 9 157 1 1 4 4 4 5 1 1 3 3 2 3 May 156 202 743 165 1,207 »105 151 3 153 121 •144 103 171 160 149 147 133 June 155 204 741 165 1,219 151 3 152 121 •145 170 193 103 172 161 148 146 132 July 157 205 753 165 1,236 153 3 148 121 s 143 104 173 173 161 148 146 131 August 157 207 761 165 1,258 •105 154 3 146 126 • 142 104 174 161 150 146 131 September. 158 211 756 165 1,249 152 3 145 127 •143 169 185 104 178 161 151 145 131 October. _. 157 215 735 166 1,254 152 3 148 126 8 144 179 " 172* 162 152 146 131 November. 157 220 1,262 152 125 152 147 December. 153 183 148 U921-100. 2 First of month figures. 3 Revised on a gold basis. « 1927=100. NOTE.—Information as to the number of foods and items included, the original base periods, and sources may be found on page 276 of the April, 1925, issue of the BULLETIN. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

41 JANUARY, 1929 FEDERAL RESERVE BULLETIN Changes in State Bank Membership banks are permitted to act under the laws of the State in which the national bank is located. The following list shows the changes affecting State bank membership during the month ended December m 21 e , m 1 b 9 e 2 r 8 s , o o f n t h w e h s ic y h s te d m at : e 1,221 State institutions were Location t D N ri i o c s . - t Name of bank g P r o a w nt e e r d s ADMISSIONS None. West field, Mass 1 First National Bank 1 1 to 8. CHANGES Nashua, N. H _. 1 Indian Head National Bank. 4, 6, 7, and n i Portsmouth, N. H 1 First National Bank_. 1,2,4,6,7, and 9. Capital ! Surplus Total New York, N. Y 2 Straus National Bank & 1 to 9. Hampton Bays, N. Y. 2 Hampton Bays National- 1 to 9. Patton, Pa 3 First National Bank 5 to 9.1 District No. 2 Weatherly, Pa 3 First National Bank _. 1 to 9. Lafayette, La 6 Commercial National Bank. 2 to 9.1 Bank of Glendale, Glendale, New York, South Pittsburg, Tenn 6 First National Bank 1 to 9. N. Y., nonmember (absorbed by Rockford, 111 7 Commercial National Bank. 1 to 9. Globe Exchange Bank, Brooklyn, Pontiac, 111 7 National Bank of Pontiac 1 to 9. N. Y., member) $150,000 $86, 000 $2,156, 830 Detroit, Mich 7 Merchants National Bank.. 1 to 9. Seventh National Bank, New York, Wausau, Wis 7 First National Bank 2 to 9.1 N. Y. (merged with Municipal Bank Beaver Dam, Wis 7 Old National Bank _ 5 to 9.1 & Trust Co., Brooklyn, N. Y., mem- Petersburg, Ind 8 First National Bank___ 2, 3, and 5. ber) _ 1, 500,000 500, 000 15, 216, 530 Ironwood, Mich. 9 Qogebic National Bank 2,3,5, and 8. St. Paul, Minn 9 Midway National Bank 1 to 9. District No. 2 Norman, Okla _ 10 First National Bank Ito9. Shawnee, Okla . 10 State National Bank Ito9. Gloucester City Trust Co., Gloucester, N. J. (voluntary withdrawal) 100, 000 65, 000 1, 420, 000 i Indicates supplemental. District No. 7 Acceptances to 100 Per Cent Farmers State Bank, Fairfield, Iowa, nonmember (absorbed by Iowa State Savings Bank, Fairfield, Iowa, mem- The following member institution has been author- Fa b r e m r) ers Savings Bank, Sac City, Iowa 100,000 i 17,560 561,450 ized by the Federal Reserve Board to accept drafts and (closed) -._ 100, 000 598, 384 bills of exchange up to 100 per cent of its capital and State Savings Bank, Ute, Iowa (closed). 50,000 15, 000 322, 542 surplus: Nassau National Bank, Brooklyn, N. Y. Security Trust & Savings Bank, Cedar Falls, Iowa, member (merged with Citizens Savings Bank, Cedar Falls, Iowa, nonmember, under title of Citizens-Security Trust & Savings Changes in National Bank Membership Bank, Cedar Falls, Iowa) 50, 000 10,000 ! 435,635 Second Ward Savings Bank, Milwaukee, Wis. (consolidated with> and The Comptroller of the Currency reports the followunder charter of First-Wisconsin Na- ing increases and reductions in the number and capital tional Bank, Milwaukee, Wis.) 1,000,000 i 3,000, 00043, 710,000 of national banks during the period from November 24, District No. 8 to December 21, 1928, inclusive: South Side Trust Co., St. Louis, Mo. (converted into South Side National Bank of St. Louis) 200, 000 j 50, 000 3, 057, 673 N be u r m o - f Amount of District No. 9 banks capital State Savings Bank, Laurium, Mich, (absorbed by Merchants & Miners New charters issued $2,950,000 Bank, Calumet, Mich., nonmember.. 100,000 50,000 | 1,010,000 Restored to solvency 0 Increase of capital approved 1 4,623,000 District No. 12 Aggregate of new charters, banks, restored Fillmore Commercial & Savings Bank, to solvency, and banks increasing capital. 18 7, 573,000 Fillmore, Utah (consolidated with State Bank of Millard County, Fill- Liquidations 2,725,000 more, Utah, nonmember 50,000 12,000 313, 363 Reducing capital2 120,000 Total liquidations and reductions of capital 23 2,845,000 Fiduciary Powers Granted to National Banks Consolidation of national banks under act of Nov. 7, 1918 3,100,000 Consolidation of a national bank and a State During the month ended December 21, 1928, the bank under act of Feb. 25,1927 _ 9,000,000 Federal Reserve Board approved applications of the national banks listed below for permission to exercise Total consolidations- 12,100,000 one or more of the fiduciary powers named in section Aggregate increased capital for period 7,573,000 11 (k) of the Federal reserve act as amended, as Reduction of capital owing to liquidations, etc. 2,845,000 follows: (1) Trustee; (2) executor; (3) administrator; Net increase- 4, 728,000 (4) registrar of stocks and bonds; (5) guardian of estates; (6) assignee; (7) receiver; (8) committee of 1 Includes one increase in capital of $248,000 incident to a consolidation estates of lunatics; (9) in any other fiduciary capacity under act of Nov. 7,1918, and one increase in capital of $3,000,000 incident in which State banks, trust companies, or other corpo- to a consolidation of a State bank under act of Feb. 25, 1927. rations which come into competition with national 2 Includes one reduction in capital of $25,000 incident to a consolidation under act of Nov. 7, 1918. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

42 FEDEKAL RESERVE BULLETIN JANUARY, 1929 DETAILED BANKING STATISTICS FOR THE UNITED STATES FEDERAL RESERVE BANES BILLS DISCOUNTED, AND DEPOSITS BY CLASS OF DEPOSIT [Monthly averages of daily figures. In millions of dollars] Federal Reserve Bank Total Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - la A n t t - a Chicago L S o t uis M ap in o n li e s - K C an it s y as Dallas F S r a a n ncisco Bilteldisconnted: 1927 November 415.2 36.4 106.5 38.1 46.8 21.5 22.7 46.9 18.1 2.6 18.1 8.4 39.1 P December 528.6 40.2 171.1 47.9 58.6 24.4 36.1 65.0 19.3 3.0 15.2 5.4 42.4 2028—January .. .... 465.3 23.6 152.9 44.4 51.0 26.9 29.3 59.0 16.6 3.7 12.7 4.3 41.0 February.. 470.7 45.2 119.3 53.1 50.8 27.3 28.3 50.9 24.0 4.0 11.4 4.1 52.3 March 513.2 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 660.9 44.4 210.9 52.7 60.8 34.6 38.9 87.6 33.1 10.1 18 8 8.0 61.3 May 835.5 59.6 296.9 60.4 68.4 43.0 51.9 109.5 39.0 10.6 22.9 9.0 64.3 1,018. 7 84.8 376.1 80.2 89.3 48.0 59.8 136.1 52.9 8.5 22.4 11.3 49.4 July - - 1,089.6 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 1,060. 8 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 1,064. 3 50.9 352.3 106.5 77.8 57.2 82.9 113.8 65.0 17.8 24.0 29.6 86.5 October 975.2 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 897.3 50.6 238.1 79.3 S^.6 42.5 68.7 138.8 43.9 16.0 43.1 21.3 69.6 December 1,013. 0 65.0 298.7 91.3 108.0 40.8 57.8 178.9 39.6 10.4 44.2 17.9 60.3 Total deposits: 1927— November 2,430.0 161.7 946.3 142.3 192.8 76.7 70.4 345.7 87.9 57.8 94.2 69.2 184.9 December ..... 2,436.0 156.8 959.1 140 1 188.8 75 1 70.5 350 0 87.9 56.4 93.3 69.8 188.1 1028—January. - 2,472.4 158.4 974.4 143.8 192.0 76.0 72.6 355.8 87.6 55.1 94.3 70.6 191.9 February 2, 419.5 154.1 942.7 140.4 192.2 75.1 72.5 349.7 87.5 54.6 95.0 70.6 185.0 March . ..... 2,411. 7 153.7 948.8 140.7 189.5 72.9 71.2 349.7 84.5 55.3 94.4 68.5 182.5 April 2,450.2 159.0 972.8 142.3 190.3 73.4 72.4 353.5 84.3 53.9 94.1 67.0 187.3 May 2,438.8 155.7 965.1 140.8 191.8 71.8 70.9 358.2 84.1 53.1 92.8 66.3 188.0 2,394.9 150.6 942.1 137.8 188.9 70.2 67.8 355.9 81.6 54.0 91.8 65.2 189.0 July 2,372.6 151.4 919.4 137.2 190.1 70.1 66.5 355.4 81.6 53.3 93.7 65.6 188.3 August 2, 330. 2 149.6 889.8 134.4 189.3 69.7 66.4 350.6 80.8 52.6 94.8 64.8 187.4 SeDtember 2, 370.1 152.6 897.8 137.9 195.8 70.8 65.2 357.0 83.6 55.0 97.5 67.3 189.5 October 2,380.6 155.0 902.9 137.0 190.9 71.3 65.8 357.7 83.5 57.0 95.7 70.8 193.1 November. 2,401.6 154.7 920.9 136.4 188.9 71.5 67.1 357.7 83.8 57.5 94.8 73.1 195.1 December 2,415.1 150.7 939.1 136.8 186.2 71.7 69.6 357.2 85.3 56.4 94.4 73.7 194.0 Member bank reserve balances: 1927—November 2,373.0 157.4 922.5 139.8 188.5 74.1 68.6 342.5 85.3 56.3 91.0 67.7 179.3 December 2,399. 2 155.1 944.9 138.7 186.3 73.5 69.3 347.2 86.3 « 55.2 91.3 69.0 182.3 1028—January . 2,426.4 155.9 957.9 141.7 188.9 73.8 70.7 352.1 86.1 53.3 92.1 68.8 185.2 February 2,368.1 151.0 924.4 138.5 188.1 72.4 70.0 345.8 85.0 53.1 92.4 69.3 178.2 March 2, 365.0 151.2 931.6 138.6 186.0 70.6 69.4 345.7 82.8 53.9 92.4 67.1 175.8 April 2,396.5 156.3 955.5 139.3 186.7 69.9 69.1 348.1 82.5 52.4 91.9 65.4 179.5 May 2,387.6 153.6 946.8 138.5 188.7 69.0 68.3 353.2 82.3 51.6 90.6 64.9 180.3 June .. 2, 354. 5 149.3 925.9 136.2 185.9 68.5 66.6 352.0 80.3 52.9 90.3 64.1 182.6 July 2,323.5 149.9 902.4 134.7 186.8 67.2 64.7 351.0 79.7 52.0 91.7 63.7 179.9 August 2, 273. 9 147.1 872.0 132.0 185.8 66.2 63.7 344.8 78.5 50.7 92.4 62.5 178.2 September 2,314.3 149.6 883.2 134.9 190.3 67.6 62.7 352.3 80.1 53.0 92.8 65.5 182.4 October 2, 332.2 152.5 889.7 134.8 187.8 68.3 63.4 353.3 80.5 55.1 92.5 68.9 185.2 November 2,352.3 152.0 903.4 134.4 185. 4 69.1 64.8 354.0 81.5 56.1 93.0 71.4 187.3 December.. 2, 366. 8 148.6 923.4 134.5 1 183.4 69.6 67.5 353.0 83.4 55.1 93.0 72.2 183.2 Government deposits: 1927—November 12.8 .9 2.9 1.2 .. 1.3 .8 .9 .9 .7 .7 1.0 .8 December 10.0 .8 2.2 .6 .7 1.0 .7 .8 .6 .6 .6 .5 .8 1928—January 19.4 1.9 2.6 1.4 1.4 1.8 1.5 1.9 1.0 1.3 1.3 1.4 2.0 February 25.6 2.0 6.8 1.3 2,2 2.3 1.9 2.3 1.4 1.2 1.4 1.0 1.8 March 23.0 2,0 5.9 1.6 1 1.9 2.0 1.5 2.2 1.2 1.0 1.1 1.2 1.5 April 26.8 2.1 5.2 2.3 i 1.7 3.0 2.7 3.0 1.2 1.0 1.3 1.4 1.9 Mav 23.8 1.6 ! 5.3 1.6 > 1.6 2.3 2.0 2.8 1.3 1.1 1.4 1.1 1.9 June 12.8 .6 4.1 .8 .8 1.2 .8 1.1 .7 .6 .6 .7 .9 July . 19.5 .7 3.7 1.3 1.0 2.2 1.4 1.8 1.1 .9 1.2 1.5 2.7 August 27.9 1.6 ! 6.9 1.4 1.2 2.7 2.2 2.7 1.2 1.4 1.4 2.0 3.2 September 17.6 1.6 4.2 1.3 1.3 1.7 1.6 1.2 .8 .8 .7 1.2 1.1 October 18.7 1.7 3.3 1.2 .9 2.2 1.6 1.4 1.2 .9 1.1 1.6 1.6 November 17.5 1.4 2.9 1.3 1.2 1.9 1.8 1.4 1.2 .9 .9 1.4 1.3 December 18.8 1.4 4.6 1.6 1.2 1.7 1.7 1.5 .9 .8 .8 1.2 1.4 AH other deposits: 1027—Nov8mb8r 44.2 3.4 20.9 1.4 3.4 1.3 1.0 2.3 1.7 .8 2.6 .5 4.8 December. 26.8 .9 12.1 .8 1.9 .7 .4 2.0 1.0 .6 1.3 .3 4.9 1928—January . 26.6 .6 13.9 .7 1.8 .5 .3 1.8 .6 .4 1.0 .3 4.7 February 25.8 ! 1.2 11.5 .6 1.9 .4 .6 1.7 1.0 .3 1.2 .2 5.0 March 23.7 ! .5 11.3 .6 1.6 .3 .3 1.8 .5 .4 .9 .2 5.2 April . . 26.9 .6 12.1 .8 1.9 .5 .6 2.4 .6 .5 . S .3 5.9 May 27.3 .6 13.1 .8 1.6 .4 .6 2.3 .6 .4 .9 .3 5.9 June _. _ . 27.5 .7 12.1 .9 2.1 .5 .4 2.8 .7 .5 .9 .3 5.6 July 29.7 .9 13.4 1.1 2.3 .7 .5 2.7 .8 .5 .8 .4 5.7 August 28.4 : .9 10.8 1.0 2.3 . 7 .6 3.1 1.0 .5 1.0 .4 6.0 September 38.2 1.4 10.4 1.7 4.2 1.5 1.0 3.5 2.8 1.2 4.0 .5 6.1 October ... 29.7 . 7 9.9 1.0 2.1 .8 .8 3.0 1.7 1.0 2.1 .3 6.3 November 31.8 1.3 14.6 .8 2.4 .5 .5 2.3 1.1 .5 .9 .3 6.6 December 29.4 j .6 11.1 .8 l.C .5 .4 2 7 1.0 .5 .6 .3 9.4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDEEAL RESERVE BULLETIN 43 FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES AT END OF MONTH [In thousands of dollars] 1928 1927 Dec. 31 Nov. 30 Dec. 31 RESOURCES Total gold reserves 2, 584, 232 2, 556,131 2, 733,187 Reserves other than gold. 124, 608 111, 774 133, 964 Total reserves.. 2, 708, 840 2, 667, 905 2, 867,151 Nonreserve cash 79, 885 44, 335 76, 745 Bills discounted... 1,056,466 j 1,087,840 581, 503 Bills bought: Outright._ 439, 003 427, 481 310,415 Under resale agreement- 50, 066 58, 693 81, 624 Total bills bought. 489,069 .6,174 392,039 United States securities: Bought outright 199,410 205, 681 559, 957 Under resale agreement. 28,655 31, 344 56, 559 Total United States securities. 228,065 237, 025 616, 516 0ther securities 9,885 4,390 Total bills and securities. 1, 783,485 I 1, 815, 429 1, 590,938 Due from foreign banks. 728 ! 725 566 Reserve bank floati 24,468 20, 665 63,036 Total reserve bank credit outstanding... 1,808,681 1, 836, 819 1,654, 540 Federal reserve notes of other reserve banks... 28,706 20, 921 23, 504 Other uncollected items not included in float.. 659,500 665, 186 651,032 Bank premises 58591 60, 595 57,933 All other resources 7340 9, 686 14,681 Total resources.. 5,351,543 | 5,305,447 5, 345, 586 LIABILITIES Federal reserve notes: Held by other Federal reserve banks 28,706 I 20,921 ! 23,504 Outside Federal reserve banks 1,809,488 j 1,771,446 i 1,766,363 Total notes in circulation. 18,194 1, 792, 367 \ 1, 789, S Deposits: Member bank—reserve account. 2,388,964 | 2,372,564 ! 2,486,777 Government 23, 472 ! 31, 364 I 18, 357 Foreign bank 5,775 i 5,549 I 4,649 0 ther deposits 21,475 I 19,878 j 20,857 Total deposits j 2,439.686 i 2,429,355 ! 2,530.640 Deferred availability items ! 659, 500 i 665,186; 651,032 Capital paid in_. 146, 936 146,593 132, 481 Surplus '. J 254,398 | 233,319 233,319 All other liabilities j 12,829 ! 38,627 8,247 Total liabilities • 0.351.543 i 5,305,447 5,345,5Sfi Contingent liability on bills purchased for foreign correspondents ' 324.699 : 203.44 2 , 228,685 UrieoIIected items (exclusive of Federal reserve notes of other Federal reserve banks) in excess of deferred availability items. KINDS OF MONEY IN CIRCULATION [ F,nd of month figures. In thousands of dollars] Total G co o i l n d • , G ti o f l i d c a e ie e s r- d S s o t i a a l l r v l n d a e d r r s - c S c e i a r l t t v i e f e s i r - n T o 1 u r t 8 e e r 9 y a s 0 s- of i : i S s u i i a l b v r s y e i r d- M co in in or ! ; U S n n o ta i t l e t e e s s d F re n e s o d e t e r e r v s a e l r F e n b e s o a d e t n e r e k v r s a e l t n b i N o o a n t n a e - a k s l 1927—Dec. 31 5,002,956 402,087 j 1,073,735 48,775:400,269 1, 315 j 285,602 111,771:292,889 1,762,794 4,282 619,439 1928—Jan. 31 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 Feb. 29 4,690,430 385,856 I1,003, 880 46, 412! 368,938 1,311 275,101 109,640 286,187 1, 570,063 4,178 638,866 Mar. 31 4,748,934 383,116 ! 1,024,875 46,188 i 372,709 1,308 274, 544 109,922 290,046 1, 588, 391 4,138 653, 696 Apr. 30 4,748,458 381,203 i1,020,267 46,154 ! 377,946 1,306 276,089 110, 30f, 293,119 1,585,904 . 4,096 652,068 May 31 4,744,074 379,684 ;1,013,139 46, 228i 379,604 1,305 277,404 110,921 296,189 1,586,975 4,072 648,552 June 30 _ 4,796,621 377,017 1,019,149 46,223 ' 384,577 1,304 278,174 111,067 298,438 1,626,433 . 4, 029 650, 212 July 31 ' 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 Aug. 31 4,802,820 373,558 I 981,785 46, 2411 391,047 •• 1,300 280, 661 111,937 300,563 1,662,249 i 3,948 649,532 Sept. 29 4, 846,198 372,909 ! 977,673 •46,411 I 397,589 1, 298 283,296 112,431 303,110 1, 698, 908 3,916 648,656 Oct. 31.._ *4,806, 230 *373, 202 : 959,652 46, 298I 394,328 1,296 285,350 113,427 300,659 1,689,171 : 3,880 638,965 N'ov. 30 4,990, 114 374,306 j1,030,546 . 46, 342! 404, 860 1,295 288,002 114,641 306, 015 1,770,184 3,848 650, 077 nee. 31 - 4,973.321 395,711 i 991,019 46, 425; 410,334 1, 294 291,118 115,613 294,199 1,808,034 3,820 615,755 i Preliminary. * Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

44 FEDERAL RESERVE BULLETIN JANUARY, 1929 FEDERAL RESERVE BANKS—AVERAGE DAILY RESERVES AND DEMAND LIABILITIES IN DECEMBER AND NOVEMBER, 1928 [In thousands o! dollars] Total cash reserves Total deposits Federal reserve notes Reserve percentages in circulation Federal reserve bank December November December November December November December ] November Boston 207,161 217, 749 150,683 154, 707 164, 306 151,984 65.8 71.0 New York 830, 845 891, 345 939,104 920, 930 355,373 341,015 64.2 70.6 Philadelphia...., 188, 415 179, 527 136,830 136,423 153,237 135,783 65.0 66.0 Cleveland 237,123 254,915 186, 225 188, 930 221, 580 207,351 58.1 64.3 Richmond 94, 540 *86, 823 71,710 71,461 86, 648 *79, 576 59.7 57.5 Atlanta 119,840 *103,154 69,587 67,146 136, 689 130, 558 58.1 52.2 Chicago 443, 729 477,046 357, 218 357,688 315, 845 296,916 65.9 i 72.9 St. Louis 86, 459 80,312 85, 293 83,813 63, 701 61,110 58.0 i 55.4 Minneapolis 81, 870 77, 589 56,413 57,540 64, 845 62,464 67.5 , 64.7 Kansas City 105, 734 83,938 94,367 94, 791 69, 327 64,403 64.6 ' 52.7 Dallas 67, 842 64,307 73, 664 73,061 49, 039 47, 868 55.3 53.2 San Francisco.. 251,186 250,857 193,958 195,147 171,379 *166, 628 68.8 , 69.3 Total 2,714,744 j *2,767, 562 2, 415,052 2,401, 637 1, 851, 969 I *1, 745, 656 ! 63.6 ' 16.7 p Revised. FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES, BY WEEKS RESOURCES [In thousands of dollars] Federal Reserve Bank Total Boston Y N o ew rk d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta Chicago L S ou t. is M ap i o n l n is e- K C a i n ty sas Dallas F S r a a n ncisco Gold with Federal reserve agents: Dec. 5 1,150,080 121, 268 169,462 101,556 119,050 47,815 78,011 213, 590 30, 771 49,724 37,751 23, 752 157,330 Dec. 12.._ 1,172,296 118, 569 169,300 100,265 118,256 51,318 85, 769 213,476 33,409 48,523 23,184 171,178 Dec. 19.. 1,268,645 116,838 269,177 108,531 118, 581 50, 282 82,962 213,350 27, 836 48,761 43, 537 25, 601 163,189 Dec. 26._ 1,171, " 85, 258 198, 769 106,860 118, 597 49,343 83,597 213,350 22, 475 48,921 47, 728 24,988 171, 522 Gold redemption fund with United States Treasury: Dec. 5.__ _ 73,150 4,239 20,120 7,358 7,393 2,660 4,583 8,920 6,010 1,517 4,242 2,026 4,082 Dec. 12.. 77,666 6,214 18, 650 8,461 6,900 3,242 4,559 12, 757 5,846^ 2,473 2,617 2,420 3,527 Dec. 19._ 76,485 7,223 16, 831 8,720 7,128 3,235 4,570 11,377 6, 757. 1, 711 2,672 2,560 3,701 Dec. 26 83,171 8,1161 20,650 9,055 8,475 3,385 4,791 10,600 6, 510' 1,444 3,157 2,634 4,354 Gold held exclusively against Federal reserve notes: Dec. 5 1, 223, 230 125,507 189,582 108,914 126,443 50,475 82, 594 222, 510 36, 781 51, 241 41, 993 25, 778 161,412 Dec. 12.. 1, 249,962 124,783 187,950! 108,726 125,156 54, 560 90,328 226, 233 39, 255 50,996 41, 666 25,604 174, 705 Dec. 19._ 1,345,130 124,061 286,008' 117,251 125,709 53,517 87, 532 224, 727 34, 593 50,472 46,209 28,161 166, 890 Dec. 26 - 1, 254, 579 93,374 219,419 115,915 127,072 52, 728 88, 388 223, 950 50, 365 50,885 27, 622 175,876 Gold settlement fund with i Federal Reserve Board: Dec. 5 768, 422 226,648: 61, 737 72,240 29,575 17, 620 140, 245 29,924 25, 689 46,080 28, 927 45, 874 Dec. 12.. 730,827 42, 627 214,172: 52,115 43, 977 22,696 15,177 155, 523 27,470 26,630 54,424 32, 767 43, 249 Dec. 19.. 736,444 25, 274 271,921; 35,181 55, 783 26,358 11,838 151,939 24,813 21,901 46, 556 26,124 38, 756 Dec. 26._ 750,186 42, 023 209,555' 47,376 73, 257 27, 518 16,866 155,708 34,810 19,655 35, 559 39,170 Gold and gold certificates held by banks: Dec. 5 625,948 38,850 390,109 46, 467 10,643 5,398 51, 384 9,129j 5,112 5,985 7,127 28,751 Dec. 12 646,186 40, 273 404,428 26; 183 43,253 10, 711 5,377 58, 784 9, 376 4,909 6,232 7,228 29,432 Dec. 19.. 533,383 37,793; 300,858' 25,462 41, 207 10,203 5,610 56,395 8,827 4,953 6,022 7,145 28,908 Dec. 26 579,474 33, 7351 358,057: 23,804 37,742 10, 833 5,581 54,903 7,712 5,103 5,929 7,090 28, 985 Total gold reserves: Dec. 5. 2, 617,600 208, 220 806,339 197,644 245,150 90, 693 105,6121 414,139 75,834 82,042 94,058 61,832 236,037 Dec. 12 2,626,975 207,683! 806,550 187,024! 212,386 87,967 110,882] 440,540 76,101 82, 535 102, 322 65,599 247,386 Dec. 19 _ 2, 614,957 187,128' 858,7871 177,894i 222,699 90,078 104,980| 433,061 68,233 77, 326 98, 787 ei^O1 234,554 Dec. 26 2,584.239 169,132| 787,031 187,095 238,071 91, 079 110,835 434,561 71,507 75,123 105, 503 70,271; 244,031 Reserves other than gold: Dec. 5 119, 532 16,329] 19,412; 4, 271 11,084 6,180 11,159 11,377 15,138 2,034 5,471 5,452! 11,625 Dec. 12 118, 878 16,164 21,004; 4,055 9,455 6,059 10, 664 11,430 15, 531 2,098 5,303 5,418; 11,697 Dec. 19 108, 800 15,971! 19, 277i 3,068 8,792 5,598 9,533 9,796 14, 398 1,937 5,136 5,078:' 10, 216 Dec. 26 104, 588 15, 597' 18, 4761 3, 591 9,012 5,805 8,541 8,708 13,831 1,910 4,946 5, 099! 9, 072 Total reserves: Dec. 5 2,737,132 224, 549, 825,751: 201,915 256,234 96,873J 116,771 425, 516 90,972! 84,076 99, 529 67,284; 247,662 Dec. 12 2, 745,853 223,847i 827,554, 191,079 221,841 94,026 121,546 451,970 91,632! 84,633 107,625 71,017: 259,083 Dec. 19 2,723, 757 203,099' 878,064 180,962 231,491 95,676 114,513 442,857 82,6311 79,263 103, 923i 66,508 244,770 Dec. 26 2, 688, 827 184, 729i 805,507 190,686 247, 083 119,376 443,269 85,338! 77,033| 110,449i 75,370, 253.103 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 45 FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES, BY WEEKS—Continued RESOURCES—Continued [In thousands of dollars] Federal Reserve Bank Total I Boston Y N o e r w k d P e h lp il h a i - a C la le n v d e- m Ri o c n h d - Atlanta, I Chicago L S ou t. is M ap i o n l n is e- K C a i n ty sas Dallas F c S r is a a c n n o - I Nonroserve cash: Dec. 5__ _. 53,028 8,059 15, 818 860 3,990 4,173| 3,052 5,964 2,972 2,129 3,303 Dec. 12.. 60,046 10, 906 17, 874 1,003 3, 287i 3,930 3,401 6,914 2,921 1,117; 1,987! 2, 570! 4,136 Dec. 19 56,973' 9,213 18, 598 922 3,626 4,202J 2, 745 6, 687 2,515 1,0671 1, 729| 2,316] 3, 353 Dec. 26 _ 64, 093 10, 024 20,185 1,149 3,940i 4,891, 2,f'~ 7,980 3,051 1,011 1,884' 2,485| 4,547 Bills discounted: Secured by U. S. Government obligations- I Dec. 5 ..- 665,864 i | 25,762 271, 733 52, 740 61,619 12,026 17,979 126,585 20,199 6,001 18,835 12,227 40,158 Dec. 12 650,795, 29,647 245,151 65, 514 76, 982 18,552 16,603! 112,594 22,077 8,762 18, 514' 10,892 25, 507 Dec. 19 582,722' 32,776 170, 777 68,894 66,686 19,543 16,274! 111,446 25,895 4,378! 17, 902: 11,874 36,277 Dec. 26 713,759 42,169 253, 819 67, 828 75, 745 18,971 16,952J 134, 274 28,948 10, 689 23, 254 12, 539 28, 571 Other bills discounted: Dec. 5 346, 318 26, 544 58,158 23,533 26, 957 21, 541 j 41, 799, 64,431 16,069 2,632! 25,211! 7,708 31, 735 Dec. 12.... 377,557 28,812 81, 775 24, 745 42,241 20, 712 38,281! 61,293 15,442 2,591 25,, 34li 6,473 29,851 Dec. 19.. 32,231 62,016 28, 931 35, 314 20,451 41,997; 64, 505 15,126 2,970 2266,003399;; 5,649 28, 759 Dec. 26 -. 453,820i 49, 778 134, 022 28,476 36, 895 21, 546! 42, 930! 67, 495 14, 229 2,512 25, 279| 3,121 27, 537 Total bills discounted: Dec. 5 1,012,182 52,306 329,891 76,273 88, 576 33, 567j 59,7781 191,016 36,268 8,633 44,0461 19,935 71,893 Dec. 12 1,028,352! 58,459 326,926 90,259 119,223 39,264 i 54,884 173,887 37,519 11,353 43,855' 17, 365 55, 358 Dec. 19 946,710,, 65,007 232,793 97,825 102,000 39,994! 58,271 i 175,951 41,021 7,348 43,941] 17,523 65,036 Dec. 26 1,167,5791 91, 947 387,841 96,304 112,640 40, 517 59,882; 201,769 43,177 13, 201 48, 533J 15,660 56,108 Bills bought in open market: Dec. 5 477, 77011 46,465 146,274 17,816j 53,886 27,010 29,645J 42,615 10,214 20, 788 7,634 24,806 50,617 Dec. 12 494,323' 43, 500 171,176 15,0571 54,860 26,490 30,113, 40,468 11,097 20,018 5, 621 24,331 51, 592 Dec. 19 453,111) 47,116 126, 397 15,152j 53,359 25,877 30,368! 41,144 11,309 19,643 3,980 24,378 54, 388 Dec. 26 _ 489, 270 49. 284 159, 387 15,5021 51,699 25,130 30,645: 40,205 11, 653 21, 932 1, 209! 24, 539 58,085 U. S. Government securities: j Bonds— Dec. 5. .__ _.. 53, 499'| 689 1,384 585 548 1,152 3571 19,927 7,125 4,519 7, 755, 9,413 45 Dec. 12 53,497.' 689 1,384 585 548 1,152 345, 19,937 7,125 4,519 7, 755'. 9,413 45 Dec. 19 __. 53, 386! 689 1,384 585 548 1,152 367| 19, 937 7,125 4,519 8, 505! 8,513 62 Dec. 26. __ 52, 7171 1,384 585 548 1,152 19,937 7,125 4,518 8, 505 j 7,813 63 Treasury notes- Dec. 5. 117, 958; 2, 892| 32,155 10,135 28,338 l,063J 3, 5021 5,925 11,441 4,527 902' 4,185 12,893 Dec. 12 116,1731 2, 892 30, 280 10,135! 28,338 1,063' 3, 503 6,015 11,441 4,527 902! 4> 185 12, 892 Dec. 19 _ 105,318, 2,892 18,855 10,135! 28,338 1, 063! 3, 5031 6,585 11,441 4,526 902 4,185 12, 893 Dec. 26 104, 759: 3,073 19, 497 10,3071 28,530 1, 063> 3,561, 6,374 11, 562 4,619 902 2,175 13,096 Certificates of indebtedness- Dec. 5_- 55,325,1 3,295 16, 753 10, 352 4,400 1,209 1,213 7,048 2,210 1,660 1,075 2,410 3,700 D D e e c c . . 1 1 2 9 _ 13 6 1 5 , , 8 8 3 3 8 7 ; i ! | 4 3 , , 2 7 0 7 4 9 2 8 2 7 , , 2 5 9 8 3 6 1 1 0 0 , ,3 8 5 09 9 J ! 3 4 , , 6 9 6 3 4 1 1 1 , , 3 2 8 1 6 2 1 1 ,3 5 8 1 4 0 8 7 , , 7 7 6 9 1 9 3 2 , , 7 5 1 3 6 5 4 1, ,6 " 6 • 6 1 l , , 0 1 7 0 5 6 i ; 2 2 , , 3 7 0 3 6 6 3 4 , , 7 2 1 4 0 4 Dec. 26. 74, 852 | 4,41133,911 10, 555J 3, 884 1,212 1,326 10,379 2,355 1,770 1,106! 3,943 Total U. S. Government securities: Dec. 5 226, 782 6,876 50,29: 21,072 33,286 3, 424 5, 072 3,2, 800 20, 10, 706 9, 732 16, 008 16,638 Dec. 12... _ 235, 507 j 7,360 53,957 21,529 33,817 3,601: 5,232; 34,713 21,101 10,950 9,732: 16.334 17,181 Dec. 19 290, 542 7,785 107,825 21,079 32, 550 3,427: 5,380; 34,321 22, 282 13, 711 10,513| 15,004 16, 665 Dec. 26 232, 328 I 8,173 54, 792 21,447 32,962 3,427j 5,285 36,690 21, 042 10, 907 10,513! 9,988 17,102 Other securities: Dec. 5 4,390. 200 155. 535 3,500 Dec. 12 4,415 . 200 155L 560' 3,500! Dec. 19 10,360! L 125;. 1,985 1,500! 6,5001 250 Dec. 26 10,135:. 1, 885 1,500; 6,500 250 Total bills and securities: | Dec. 5 _ _... 1,721,124J 105,647 526, 657 115,316 175, 748 64,0011 94,495 266, 531 67, 258 40,662 61,412 64, 249 139,148 Dec. 12... 1,762, 597 109,319 552, 259 127,000 207,900 69,355 90, 229 i 249,068 69, 717 42, 881 59, 208' 61, 530 124,131 Dec. 19 _. 1, 700, 723 119, 908 467,015 134,181 187,909 69,298 94,019 i 251,416 74, 612 42,687 59, 934j 63,405 136,339 Dec. 26 1,899, 312 149,404 602,020 133,253 197,301 69,074 95,812| 278,664 75,872 47,925 61, 755; 56,687 131, 545 Due fron foreign banks: I Dec. 5 726 37 375 51 25' 20J 21 13 18! 17 35 Dec. 12 7261 37 375 46 51 25 20; 21 13 18 17 35 D De e c c . . 2 1 6 9 7 7 2 2 7 8 J | 5 5 4 4 2 2 0 0 5 6 6 6 9 9 7 7 6 6 37jl 3 3 1 1 1 1 0 0 1 1 3 3 1 1 2 2 0 0 2 2 6 6 ! 2 2 5 5 5 5 2 2 Uncollected items: Dec. 5 747,261 74,441 206,831 64,233 64,126 58, 570 27,362 83,079 35, 596 15,960 43,177 30, 723 43,163 Dec. 12 795, 957 77,426 225, 682 67,282 70,194 60,798 26, 935 94,316 34,475 16,693 43,984 33,474 44, 698 Dec. 19 867, 294 82, 674 238, 025 75,399 79,885 67,385 32,852! 112,162 35,886 18,150 45,976 33,418 45,482 Dec. 26._ _ 722,108| 68,903 184, 820 60, 218 71,812 61,454 25,862i 86,321 31,087 16,031 41, 631 29,053 44, 916 Bank premises: Dec. 5 60,601 3,824 16, 675 1,752 6,806 3,703 2,867 8, 7201 3,954 2,202 4,308i 1,962 3,828 Dec. 12 60, 606 3,824 16, 678 1,752 6,808 3,703 2,867, 8,7201 3,954 2,202 4,308 1,962 3,828 Dec. 19 60,630! 3,824 16,678 1,752 3,703 2,8671 8,720 3,978 2,202 4,3081 1,962 3,828 Dec. 26 60, 629 j 3,824 16, 661 1,752: 6,809 3,708 2,882, 8, 720 3, 978 2,202 4, 308, 1,962 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

46 FEDERAL RESERVE BULLETIN JANUARY, 1929 FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES, BY WEEKS—Continued RESOURCES—Continued [In thousands of dollars] j i Federal Reserve Bank Total Boston Y N o e r w k d P e h l i p l h a- ia C l l a e n v d e- m R o ic n h d - |AAtlanta Chicago L S ou t. i s i 1 a M po in li n s e-K C a i n ty sas Dallas F c S r is a a c n n o - I All other resources: Dec. 5 10,6991 162, 1,2251 189 1,407 1, 518! 2, 5431 842 513! 717 423i 505 655 Dec. 12 10,061 157i 1,590! 294 1,422 459 2,491 840 528: 7521 405 466 657 Dec. 19... 8,375' 1571 688 164 1,1001 457 2,294 817 4391 1,1071 263 408 481 Dec. 26 7,704;: 169 907 190| 1,116 469| 1,456 830 450' 950i 261 423 483 i Total resources: Dec. 5 J 5,330,571 416, 719 1,593,332! 384,311 508,362! 228,863! 247, lio! 790,720 201,286' 144,649 210, 556 437, 794 Dec. 12 . i 5, 435,846 , 425, 516 1,642,0121 388,456 511,503i 232,296! 247,489! 811,896] 203,248] 148,291 217, 535 171,036 436, 568 Dec. 19 J 5,418,479 418, 929 1,619,2731 393,449 510,895' 240,758' 249,321 822, 760! 200,092 144,496 216,159 168,042 434,305 Dec. 26 _| 5,443,401 i 417,107 1,630,3061 387,317 528,137| 236,512j 248,365; 825,885 199,807! 145,172 220, 314 166, 005 438,474 LIABILITIES Federal reserve notes in circulation: Dec. 5 1, 789, 845: 161, 510 339,816 146,025! 212,756, 83,048 135,103! 302,727 61, 723 64, 317i 66, 700 48,396 167,724 Dec. 12 1, 813, 720j 166, 819 340,658 151,952! 218,867 84,035 133,232; 306,594 62,116 64,295: 68,178 48,040 168,934 Dec. 19 1, 869,192' 166, 221 359,365 155,926 223,345 88,140 136, 5821 318,211 64, 533 65, 094! 70, 227 49,236 172,312 Dec. 26 1, 910, 838 167,041 364,133' 157,257 230,145 89,520 139,247 331,855 65, 747 66, 374! 72, 332 50,594 176,593 Deposits: Member bank — reserve account- Dec. 5 2, 382, 329, 150,110 932,318! 138,019 187, 869. 69,930 66,039 349,584 83,026 53, 748 91, 284 71, 365 189, 037 Dec. 12 2,408,967!' 150,071 960,5091 134,100 179,952 68,905 69,337 357,075 85,101 56,186 93,3001 74,326 180,105 Dec. 19._ 2,325,8791 144, 524 919,099, 132,481 172,159 68,098 65,368 349,371 79, 931 52,962! 90,638 70,541 180, 707 Dec. 26 2,409,195, 152, 061 957, 831! 136,328 186,171 69, 097 67,852, 356,753 84, 420 53, 901 93,446 71, 389 179, 946 Government— Dec. 5 25,876, 2,883 3, 046! 3, 538 2,158 1,841 2, 981! 2,' 1,068 1,056 511 2,317 1,679 Dec. 12 29,724 2,593 5,2711 1,437 2,142 1,524 2, 384 2, 544 1,661 1, 491 1, 758 2,300 4,619 Dec. 19 5, 489' 207 260 303 94 752 487 738 270 426' 453 81 1,418 Dec. 26 15, 782: 73 11,327 801 261 174 36; 127 74 1,052J 123 794 940 Foreign bank— Dec. 5 6,023' 416 2,039! 527 577 283 233: 771 239 150! 200 194 394 Dec. 12... 7,059,: 518 2,0991 656 718 352 290 960 297 187 j 249 242 491 Dec. 19.. .._ 5,744; 518 7831 656; 719 352 290 960 297 187: 249 242 491 Dec. 26 7,534 518i 2,573| 656; 719 352 290 960 2971 187i 249 242 491 Other deposits- Dec. 5 21,444 118 9,530 209 1,842 130 758j 282' 325 44 7,090 Dec. 12 20,217. 95 8,262 172 729 111 174 1,020 616] 246; 271 82jj 8,439 Dec. 19 19,314 120 7, 896 146 885 148 228 1,301 678j 267| 3651 81 7,199 Dec. 26 22, 582 148 7, 543 68 749 165 132 1,507 768 270! 4201 48 10,704 Total deposits: ' I ! "t Dec. 5 2, 435, 672 153, 527 946,933; 142, 293j 192,446 69,409 354,113 85,091 55236: 92, 320 73920198, 200 Defe D D D rr e e e e c c c d . . . 2 1 1 a 6 9 2 vailability items: 2 2 2 , , , 4 4 3 5 5 6 5 6 5 , , , 0 9 4 9 0 2 3 7 0 . . 1 1 15 5 4 2 3 5 , , , 3 2 8 6 7 0 9 7 0 9 9 97 7 2 9 6 8 , , , 2 0 1 7 3 4 4 8 1 1 : 1 1 1 3 3 3 3 6 7 , , , 5 3 8 8 6 5 6 5 3 1 ! ! 1 1 1 8 8 7 3 7 3 , , , 5 9 8 0 4 5 0 1 7 7 6 7 9 0 2 , , , 1 3 8 8 9 5 2 4 0 1 | 7 6 68 2 0 , , , 3 1 3 1 8 7 0 5 3 3 3 3 6 5 5 9 1 2 , , , 4 5 3 0 9 7 7 9 0 8 8 8 7 5 1 , , , 1 5 6 7 5 7 6 9 5! 5 5 5 3 5 8 , , 8 4 1 1 1 4 0 0 2 1 ' 9 9 9 4 1 5 , , , 2 5 7 3 0 7 8 5 8 7 7 7 2 6 0 , , , 4 9 9 7 4 5 3 5 0 1 1 1 9 8 9 2 9 3 , , , 8 6 0 1 5 8 5 4 1 Dec. 5 685, 663. 71,351 180, 799i 57, 0531 60, 875 69, 788| 24, 949 76, 550 36, 901 13, 648: 37, 033j 30,757! 42,379 Dec. 12 I 735, 000 74,983j 198, 7341 61, 098! 60, 600 53, 3681 24, 369 80,196 35,844 14,413 39,103 j 32,192] 44, 380 Dec. 19 . I 771, 548 76,8871 205, 035j 64, 808^ 71, 042 57, 082! 28, 650 94, 5If 36,732, 14, 103! 39, 721J 34, 018! 42, 514 Capi D ta e l c . p 2 a 6 id in: I | 654, 553, 66, 650 J 160, 030: 52, 946i 67, 3 43 5 62 6 , , 8 9 7 2 7 4 1 22, 935 70, 792 30, 792 11, 895 > 39', 201! 28.997 40,035 Dec. 5.. ! 146,801 10,1521 50, 078j 14, 522; 14, 421 6,103! 5,231 18, 473 5, 404 3,009 4,217 4, 321 10, 870 Dec. 12 j 146, 868 10,150! 50, 098 14, 536' 14, 422! 6,117| 5, 231 18,481 5, 403 3, 009: 4, 217 4, 329 10, 869 Dec. 19 146,876 10,1601 50, 098 j 14, 530! 14, 422j 6,119; 5, 231 18,4811 5, 407 3,009, 4,217 4, 329; 10, 867 Dec. 26 146, 808 10,160' 50, 098 14,422 6,114i 5, 231 18, -478! 5,407 3, 009' 4, 217 4, 329! 10, 867 Surplus: i Dec. 5 233,319 17, 893! 63007 21,662 24, 021 12, 324J 9, 990 32, 778| 10, 397 7, 039 9, 0401 8, 527^ 16, 629 Dec. 12 ! 233, 319 17, 893 i 63007 21,662 24,02l! 12, 32l! 9, 993 32, 778; 10, 3971 7, 039 9,040: 8, 527 i 10, G29 Dec. 19 I 233,319 17,893 63007 21,002 24,0211 12, 324J 9, 990 32, 778: 10, 397 7,039 9,040 8, 527i 16, 629 Dec. 26 ! 233, 319 17, 8931 63007 21,602 21,021! 12, 324! 9, 99G. 32, 778) 10, 39~ 7, 039: 9, 046 8, 527, 10, 629 All other liabilities: j i Dec. 5 ! 39, 271 2, 2861 12699 2756 3, 843: 1, 830' 2, 422 6, 079 1,770 1,,400;0: 1,240 948J 1, 992 D D e e c c . . 1 1 9 2 ! j 4 4 0 1 , , 1 9 1 7 8 2 2 2 , , 3 3 8 9 8 9 1 1 3 3 , , 1 3 2 7 9 4 2 2, 8 9 4 3 3 3 4 4 , , 2 0 0 4 8 0 ! . 1 1 , , 9 8 0 4 1 6: 2 2 , , 4 4 8 7 9 0 1 : 6 6 , , 4 2 0 4 5 8 1 1, , 8 8 4 1 7 3 I 1 , , 4 4 2 0 5 9 ! i 1, 243! 9 98 9 7 8 ! 2 2 , , 1 1 6 0 8 2 Dec. 2(5 i 42, 730 2, oG:i 13761 3,003 4,300' 1, 889i 2, 640 6,575, 1, 905! l,445j 1, 220! 1, 0851 2,209 Total liabilities: '•• Dec. 5 ! 5,330,571 410,719 1,593, 332: 3S4,31l| 50S, 302 228,803 247,110 790,720 201,280: 144,649- 210,55o! 100,869! 437,794 Dec. 12 i 5.4:55,846 425,510 1,042, 012: 388, 456j 511,503! 232,290: 247,489 811,895 203, 243j 148, 291^ 217, 535| 171,030; 430,508 Dec. 19 ! 5,418.479 418,929 1.619,273 393,4491 510,895' 240,758' 249,321 822,700 200,092 144,490 216,1591 108,042! 434,305 Dec. 26 i 5,443,401 417,107 1,030.305! 3S7, 317i 528,137; 230,512, 248,365. 825,88r)| 199, 807| 145,172!' 2~2~0", 3"1 4! 1"0"0", 0'0"5' ; 4~3~8 ,4~74 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

47 JANUARY, 1929 FEDERAL RESERVE BULLETIN FEDERAL RESERVE BANKS—RESOURCES AND LIABILITIES, BY WEEKS—Continued LIABILITIES—Continued [In thousands of dollars] Federal Reserve Bank Boston l i Y N o ew rk ! j d P e h lp i h la i - a C l l a e n v d e- m Ri o c n h d - Atlanta'Chicago L S ou t. i s j j M ap in o n li e s - 1 i K C an it s y as F c S i r s a a c n n o - MEMORANDA Ratio of total reserves to Federal reserve note and deposit liabilities combined (per cent): I Dec. 5 64. Si 71.31 64.2 70.0 63.2 62.4 57. l| 64.8 62.0 70.3 62.6 55.0 67.7 Dec. 12.. 64.2! 69.9: 62.81 66.3 55.1 60.7 59. 2j 67.6! 61.2 69.11 65.7 56.8 71.5 Dec. 19 64. 5j 65.2 68. 2, 62. 5 58.3 60.8 56.4! 66.0 56.7 64.2 55.3 Dec. 26 61. 6- 57.81 60.0 64.6 59.1 60.8 57.5 64.11 56.4 63.3 66.3 61.2 6S.7 Contingent liability on bills j | purchased for foreign corre- i spondents: I Dec. 5 279,488! 19, 758: 90,337i 25,027 27,398 13,436 11,0651 36,618 13,3281 7,113, 9,484 9,220 18, 704 Dec. 12 284,014i 21,165! 81,398 26,809 29, 348 14,392 11,852! 39,225i 12,134 7,619' 10,159 9,877 20,036 Dec. 19 321,010,' 23,7181 93, 949| 30,043 32,889 16,128 13,282| 43,958! 13,598 8, 539j 11,385 11,068 22,453 Dec. 26 327,315!j 24,606.i 91,753 31,168 34,120 16, 732 13,779 45,603 14,108 8,858 11,811 11,483 23, 294 Own Federal reserve notes held by Federal reserve bank: Dec. 5 391,474! 3r».3o5 107.158 25, 931 34,457 17,166 31,468 44,349| 11,422 9, 624 8,066 56,190 Dec. 12 429,105;| 31,547 140,171: 26,713 30,352 17,082 36, 557 44, 726| 12,868! 8,445! 10,408 10,368 59, 868 Dec. 19 418,250 34,414 140,192| 30,405 27, 599 15,851 34, 339 42,397 10,077! 7,044: 10, 997 ', 474 55,461 Dec. 26 413,9991 38,814 140,829 33,603 23, 714 14, 980 34, 250 40,383! 11,003 7,204! 8,183 8,523 52,513 FEDERAL RESERVE NOTES—FEDERAL RESERVE AGENTS' ACCOUNTS, BY WEEKS [In thousands of dollars] Federal Reserve Bank Total ! Boston Y N o e r w k d P e h l i p l h a- ia C la le n v d e- m Ri o c n h d - Atlanta Chicago St. M ap in ol n i e s - K C an it s y a s I | i | I F ci r s a c n o - Federal reserve notes received from comptroller: r Dec. 5 741, 794 225,356 280,843 123, 793 222,031 454, 646 90, 715 85,830! 106,348! 70,864; 321,114 Dec. 12 2,965,449|| 242,115 756, 929 223,265 280,849 124, 696 224, 689 455, 490 91, 434 88,709' 107,746: 70,295! 323,602 Dec. 19 2,989,1201 241,416 771. 337 223, 23l| 281,374 125, 360 224, 761 457, 978 89, 860 88,107' 110,7341 69,737' 322,573 Dec. 26 3,007, 737;! 242,685 776, 742 222,160! 280,489 124,921 224, 237 460, 758 90,500 88,107! 110,925; 69,124, 320,906 Federal reserve notes held by 3,009,974.' 241,105 I Federal reserve agent: Dec. 5 784,130! 44,250 294,820 53,400! 33,630 23,579 55,460 107, 570 17, 570 11,889' 30,360! 14,402! 97,200 Dec. 12 746,295': 43,050 276,100, 44,6001 31,630 23,579 54,900 104,170 16, 450 15,969; 29,160! 11,887 94,800 Dec. 19 720,295! 42,050 271,780 36,900! 30,430! 21,369j 53,840 97, 370 15, 250 15,969' 29,510: 11,027' 94,800 Dec. 26 085, 137 35,250! 271,780 31.3(X)! 26,0301 20,4211 50,740 88, 520 13,750 14,529! 30,410 10,007 91.800 Federal reserve notes issued to Federal reserve bank: | Dec. 5 12,181,319! 197,865 446,974 171,956, 247,213' 100, 214i 166,571 347, 076 73,145 73,941- 75,988 56,462 223,914 Dec. 12. . _ . i 2,242,82,-) 198, 366j 480,829 178,0651 249,219; 101,117! 169,789 351, 320 74,984! 72,740: 78,586, 58,408 228,802 Dec. 19 ; 2, 287, 442! 200,635,499,557 186, 331i 250,944' 103, 991; 170,921 360, 608 74,610! 72,138: 81,224' 58,710 227,773 Dec. 26 2,324. S37| 205,855' 504,962 190,800; 253,859 104,500 173,497 372, 23S 76,750! 73,578. 80,515, 59,117 229,103 Collateral held as security for Federal reserve notes issued to Federal reserve bank: Gold and trold certificates- Dec. 5 341,208!! 35,300! 148,408. 50,000: 6,090j 26,750 7, GOO! 14,167 17,293 35.000 Dec. 12 I 341,20; 35,3001 148,407'. 50, 000: 6, 690 26,750,-.. 7,600! 14,167 17,293- 35,000 Dec. 19. _ _ _ ! 441,021 35,300 248,406:- 50, 000. 6, 69 J' 26, 750 ', OOOi 14, 007 17, 268! 35. 000 Dec. 20 j 370,673,; 35,300 177,998f 50, 000 6, 690j 20,750 7, 500! 14,167; 17, 2G8| 35, 000 Gold redemption fund— I \' Dec. 5 ! 104, 047ji 17,968 16,054 8,579 14,050 7,1251 8, 2611 2, 590 1.1711 3,557| 2,391 4,459i 3 7, S42 Dee. 12 | 101,890,! 15,269 15,893 11,488 13,256 5, 6281 7, 519; 2, 470 2. 8091 2, 356; 3, 689 3,891 17,610 Dec. 19 ! «1.7S5'I 13,538 15. 771: 10,354. 13,581 4, 592 5, 712' 2, 350 1.236! 2,7541 3,1 4,333J 17,387 Dec. 26 ! 90,905ji 11,958 15, 771: 14, 283 13, 597' 3, 653. 4, 347; 2, 350 2.975, 2,754. 4.368 3,720, 17,129 (Jold fund- | ' ! Dec. 5 ! 704,S2o'! 68,000, 5,000 92,977 55,000' 34, 000: 43,000 211,000 22,000; 32,000: 35,300 2.000^ 104.488 .Dec. 12 i 729.199M 68,000! 5,000: 88, 777 55, 000 39,000: 51,500 211,000' 23. 000! 32, 000i 35. 300 2,000' US, 562 Dec. 19 ; 732,839': 68,0001 5, 000 98,177 55, 000 39,0001 50,500 211,000 19.000, 32,000: 40,300 4,000, 110,802 Dec. 20 ! 703, 830! | 38, 000J 5, 000 92,577. 55,000 39, 000. 52,500 211,000 12,000; 32,000i 43,360 4, 0001 119.393 Kligible paper— j j; Dec. 5 ! 1.444,684'i 98,750 451,308 83,241 140,898: 56,166; 89,382 233,42o| 40.469 27,180! 51,231 44, 692; 121,942 Dec. 12 j 1,443,842;; 101,939 446, 607' 92,953 171,930 57, 225 84, 931 214,171! 48,601! 29,009. 48,983 41,073: 105,700 Dec. 19-. ! 1,350,8021 112.047 334,537 99,089 153,933 61.1941 88,538; 216,821! 52. 282, _24.,, 995|, .4.7,, .3._8 4 4411,,885533 ! 1818,,129 Dec. 26 | 1.588, lOSij 141,154 518,705 86,502 161,387: 60, 332 90,420 2-11, OS61 54. 772| 33,014 49,159! 40, UUC' >'. 1101 0S. Total collateral: I \> ' , : I Dec. 5 - i 2,591,764'! 220.018 020,770 184,797 259,948 103,981' 167.393 447.015. 77. 2401 76, 904, 88, 982 68,444 279.272 Dec. 12 • 2,016,138ii 220,508 615,907 193,218 290,180 108,543 170.700 427,047 82. 010! 77, 592; 88, 032 64,857 270,938 Dec. 19 - i 2,019,447! 228,885 003,714 207,020 272,514 111,470 171,500 430,171: 80.118! 73,750! 90,921 67,454 281.318 Dec. 20 . - I 2,759,570'! 22(5,412i 717,474 19:3.302 279,984 109,075; 174,023 455,030. 77. 2471 81, 935; 98, 887 65, 134: 282, 407 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

48 FEDERAL RESERVE BULLETIN JANUARY, 1929 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS, AND MUNICIPAL WARRANTS HELD BY FEDERAL RESERVE BANKS [In thousands of dollars] Total Within 16 to 30 31 to 60 61 to 90 91 days to Over 6 15 days days days days 6 months months Bills discounted: Dec. 5 1, 012,182 866,112 40,413 54,820 30,928 19,041 868 Dec. 12. 1, 028, 352 886,179 38, 723 54, 253 31,328 16,874 995 Dec. 19.._ 946, 710 797,249 39, 031 58, 914 33,383 17, 043 1,090 Dec. 26 1,167, 579 1, 012, 581 38, 749 59, 509 38,616 16, 993 1,131 Bills bought in open market: Dec 5 477, 770 149, 250 98,639 151,971 73,340 4 570 Dec. 12 494,323 175,007 95, 793 147, 077 72,446 4,000 1 Dec. 19 . 453, 111 139, 251 94, 713 143, 448 71,311 4,388 Dec. 26... _ __ __ 489, 270 166, 325 93, 021 131, 901 93, 531 4,492 Certificates of indebtedness: Dec 5 55, 325 13, 546 39,125 2,654 Dec. 12 65,837 10,126 52,908 2,803 Dec. 19.. . . . 131, 838 80, 690 j 22,873 7,296 20,979 Dec. 26... _ ._ 74, 852 21, 790 24, 203 8,063 20, 796 Municipal warrants: Dec 5 190 155 35 Dec. 12 215 125 90 Dec. 19. . .. . 185 125 60 Dec. 26 _ 60 60 GOLD SETTLEMENT FUND—INTERBANK TRANSACTIONS FROM NOVEMBER 22 TO DECEMBER 19, 1928, INCLUSIVE [In thousands of dollars] I Changes in ownership Transit clearing Federa c l l e r a e r s i e n r g ve note o tr f a nsf g e o rs ld and th r c o le u a g r h - J Balance Federal reserve bank ings I ! in c f lo u s n e d o a f t " period Debits Credits Debits Credits Decrease Increase i_ Boston 908,355 928, 775 3,901 ; 3,566 815 25, 274 New York 3,728,407 3, 592,025 8,887 ; 8,848 17,621 271,921 Philadelphia. 949,326 976, 513 4,697 . 4,449 6,539 • 35,181 Cleveland 819,151 831,943 ! 6,747 ! 3,883 8,072 55,784 Kichmond 907, 298 927,294 I 2,121 i 4,087 11,462 , 26,358 Atlanta 352, 219 378,915 I 2,406 1 2,657 12,647 , 11,838 Chicago. 1, 513, 52,3 1,500,156 8,073 i 6,366 26,074 151,939 St. Louis. 612, 435 604, 831 2,218 ! 3,473 1,349 24,813 Minneapolis 191, 506 194,492 1,681 . 1,508 2,013 21,900 Kansas City 443,393 464,624 2,084 i 2,740 22,387 46, 557 Dallas 399,141 1,094 ! 1,667 5,386 ' 26,124 San Francisco. 467, 031 480, 863 2, 243 ! 2,908 6,503 38, 756 Total 4 weeks ending- Dec. 19,1928 131,700 j 11,279,572 11, 279, 572 46,152 ! 46,152 60, 434 60,434 : 736, 445 Nov. 21,1928 22,500 1 10,551,714 10, 551,714 59,444! 59,444 796,380 Dec. 21,1927 290,000 ! 10,033,190 10,033,190 53,571 ! 53,571 554,359 Nov. 23,1927 225,650 j 10,527,337 10,527,337 49,514 , 49, 514 588, 008 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

49 JANUARY, 1929 FEDERAL RESERVE BULLETIN ALL MEMBER BANKS1 BORROWINGS FROM FEDERAL RESERVE BANES, BY STATES (End of month figures. In thousands of dollars] 1928 State Novem- March April May June July August October ber United States 477,025 598,6811 834,2231,021,352 1,095,423il, 030,980 1,107,512 1,070,759 932,2711,087,840 New England: Maine 909, 1,072 2,123 2,672 1,901 1,309 l,378i 2,204 2,1S4 New Hampshire 2, 746; 1,332 2,334 2,584 1,340 1,675! 1,738! 1,502 1,446 Vermont ; 992i 954 1,029 1,711 1,358 1, 204 937! 980 794 Massachusetts ! 44,350! 36,340 69,264 62, 703 48, 727 39,314 34,270 19,144 58, 729 Rhode Island 1,225! 593 5,918 4,291 8,310 7,368 8,923 6,113 7,907 Connecticut 1,809! 1,759 5,203 7,619 6,713 6,246; 7,092; 4,436 5,632 Middle Atlantic: New York 128,001! 262,280 328,125 415, 561 273,071^ 247,904! 324,420l 218, 675 304,468 New Jersey 23,051' 32,784 35,636 44, 111 52,0001 49,245 51, 620! 48, 685 50, 341 Pennsylvania 80,029! 82, 553103, 524 143,416 123,920| 149,496 135, 274; 104,113 112,818 East North Central: i Ohio 33,392 28, 779 42,039 43, 741 50,436! 44,7381 39,432) 41,622 53, 206 Indiana 4,825' 5,491 4,361 5,191 8,940 9,992! 7, 628| 10,128 6, 282 Illinois 66,447 63, 390 64,288 74,320 77, 243• 99,335 j 49,009i 88, 353 96, 613 Michigan.._ 23,152; 33.599 52,692 59,147 50, 501: 42, 281 i 47,418 j 46, 584 45, 746 Wisconsin 16, 557' 14, 781 13,837 15,555 12, 528| 17,025! 17,161 21, 020 18,906 West North Central: Minnesota 2,375 2, 696| 12,814 8,371 5,696 11,674; 17,550J 12,3911 12, 479 14, 094 Iowa .. 6,870 3,887, 3,599 4,015 2,927 2,833: 4, 61S1 6,835 9,487 Missouri 11,837 24,168 20,753 45,216 4^ 707 39,304! 52,773! 34,464i 23, 849 29,146 North Dakota 312 543' 575 734 688 1,050! l,475j 972: 395 523 South Dakota 695 381 391 421 511 558: 547| 436i 414 587 Nebraska 9,119 4,4291 5,990 4,992 2,329 3,723, 2,523! 4,C44i 11,066 16, 354 Kansas 2,980 l,052| 1,452 1,""" 963; 1,722, 4,026! 11, 799 15, 023 South Atlantic- Delaware ! 783 474 597! 979 1,977 3,063 1, 283! 1,4311 1,295! 1,494 1,969 Maryland j 7, 5,498 3,747 9,547 11,214 8,323 5,894 8,161' 7, 652i 6,775 13, 727 District of Columbia- 500 920 650; 245 1,520 3,770 1,470j 1,320; 2,121 2,447 Virginia I 5,877 11,894 13,347. 14,25' 15,394 19,755j 20, 703 22,832, 20,461 j 16,458 14,408 West Virginia ; 1,631 5,363 3,543' 3,497 3,951 5,847 5,665; 6,225{ 4,052 5,386 4,186 North Carolina j 2,429 1,998 7,4491 10,043 10,105 12,563 18,4071 21,614! 18,310 11, 738 8,065 South Carolina 1,671 1,425 3,471' 4,358 3, 739 2,812 5,101 4,496; 4, 066! 4,169 Georgia j 6,575 3,582 7,041j 20.600 23,114 14,191 22, 523 19,3061 20,242j 15, 652 15, 528 Florida. ' 3,502 2,619 lf345; 1, 2,643 985 3,353j 4,512; 3,903 8,281 8,961 East South Central: Kentucky 8,27^ 14, 597 14,783 13,935 15,242; 19,1751 17,460 17,468 16, 855 Tennessee 1,900! 4,540 4,378 5,444 7,3491 9,148! 14, 607 8,039 5,736 Alabama 6,412 10.412 8,632 11,075 13,879 i 19,019 19,136 19, 330 15, 874 Mississippi 3,456; 4,103 5,464 5,180 5,846| 6,814; 6,815 4,705 3,218 West South Central: Arkansas 1,606 2,529 2,077 2,680 4,973i 7,559 7,788 6,934 2, 543 Louisiana 9,014 13,8S9 20,703 15,688 21, 788' 28,900 30,972 25,162 14, 371 Oklahoma 2,287 3,656 5,006 4,646, 4,618| 4,248 1,406 1,199 Texas 3,991 9,302 9,938 8,192! 24,133j 27,780 26,156 21,850 20, 616 Mountain: Montana 33 126 250 231 j 275| 505 218 100 Idaho 2411 339 405 554; 664! 658 2511 150 101 Wyoming 2 103 129 96 i 151] 212 222! 139 35 Colorado 2,527 3,407 3,773 1,305 2,792 3,541 2, 766 i 5,360 3,630 New Mexico 187 175 77 178i 176 242| 242j 152 (2) Arizona 1981 184 180 187: 205! 193 170; 147 140 Utah 86C; 2,163 1,644 1,278 i 1,657 1,912 998 897 1,718 Pacific- Washington 1,788 1,566! 3,540 3,720 2,492! 6,104 5,079 2,0111 7,506 6,043 Oregon 247 2,203, 3,463 3,077 1,886: 1,890! 1,948 1,763; 1,849 1,718 California 38,490 48,191 81,553 56,068 9,873 55,984! 83,607 65,784! 59, 767 70,207 1 Figures given include borrowings by Federal intermediate credit banks as follows: 1927 1928 No- De- i Janu- Febru-' Au- Sep- i Octo- November cemberj ary ary March April May June July gust tember i ber vember 1 United States ___.| 1,123 2,273 723 252 572 107 412 962 2,826 ; 6,136 1 11,700 11, 872 Minnesota ! 1,846 ; 1,627 I 1,298 6S3 Missouri 123 123 "l23" Nebraska _. ' I 745 481 : 1,318 j 1,378 1,672 Kansas. : _.. 499 ; 2,160 ! 7,495 7,495 South Carolina 245 100 "60" - j 244 506 Louisiana J 200 400 Washington 831 : 1,285 '• 1,116 California, _ __i 1,000 2,150 600 405 150 . Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

50 FEDERAL RESERVE BULLETIN JANUARY. 1929 ALL MEMBER BANKS AND MEMBER BANKS IN SMALL CENTERS NET DEMAND AND TIME DEPOSITS, BY DISTRICTS AND BY STATES [In thousands of dollars] Member banks in centers having a population under All member banks 15,000 Net demand deposits Time deposits Net demand deposits Time deposits Federal reserve district or State 1928 1927 1928 1927 1928 Dec. 12 Nov. 7 Dec. 7 Dec. 12 Nov. 7 Dec. 7 Dec. 12 Nov. 7 Dec. 7 Dec. 12 Nov. 7 Dec. 7 United States.. 19,100, 203; 19, 004, 754,19, 586, 270 13, 418,178jl3, 510, 52Q12, 676, 664J2, 914,028 2,957, 5372,934, 2373, 346, 564 3, 378, 571 3,182, 539 DISTRICT Boston 1,4.08, 654 1, 447, 1,467,-674' 960, 072 968,126) 973,136 131, 29< 136, 54' 134, 178,152 179, 263 166, 682 New York 6, 835, 754. 6, 709, 7,125,738 3,117, 637 3,156, 649! 2, 827, 823 359, 783 362, 587 349, 556 635, 699 644, 890 584,555 Philadelphia 1,169, 928: 1,170, 1, 224, 542: 1,076,107 1, 096, 9271 1,034, 759 225,864 227, 317 223,912 459, 420 467, 885 433, 784 Cleveland 1,509,413 1,506, 1, 568,189 1,632,852 1, 646,135: 1, 545, 596 260, 581 259, 613 269,938 387, 002 390,895 378,000 R ichmond 616, 288 604, 662, 800' 588, 924 596, 846^ 592, 229 164, 571 165,188 178, 086 254, 546 256, 393 251, 968 Atlanta 593,643 569, 622,4341 463,047 466, 62o| 465,326; 148, 245 145, 614 160,439 138, 786 139,910 131,526 Chicago 2, 080, 334 2, 660,852; 2,607,900 2, 260, 776 2,264,057! 2,132,438| 315, 085 324, 601 312, 603 460, 865 461, 942 444, 359 St. Louis 748, 920 721, 7711 780, 947; 533, 299 544, 917: 520,033i 177, 009! 175,704 180, 677 159, 694 159,233 149, 587 Minneapolis 473, 060 498, 644' 480, 563' 475, 589 474, 9271 448, 714! 197, 053; 205,327 195, 763] 273, 248! 273,540 260,242 Kansas City 903, 891 896, 230; 890,9671 372, 032 376,152' 344,765j 339, 598! 343,65" 342,033 163, 686, 166, 352 158, 903 Dallas 759, 008! 748, 140 729,213: 215, 360 214, 999 186,104| 352, 266 353, 994 334,427 55, 145! 56,099 48, 631 San Francisco 1,460,110 1,471, 1, 425, 303-1 1,722, 483 1, 704,169 1, 605,741 242, 677' 257, 388 252,715 180, 321 i182,169 174, 302 ! STATE Maine 36, 893 38,182! 46, 330! 100, 304 100,178 110,143 17, 602 19, 034 19, 059 66, 393' 65, 780 62, 680 New Hampshire 40, 935 40. 543, 42, 684, 22, 242j 23, 290; 20,231 22, 6101 22, 665 23, 213! 14, 038; 14, 672 12,443 Vermont 19, 212 19, 079. 19,812 41, 407 40, 998 i 37, 795 16,959 16, 17,117J 38, 985 i 38, 571 35, 897 Massachusetts 1, 029, 695 1,072,718 1,073, 348! 544, 360 548,879J 546, 238 52, 5S0> 56, 346 52,690 43,421, 44, 937 41,183 Rhode Island 129,734 127, 240i 133,259i 177, 0671 178,850: 186,761' 980 l,000| 1,198 53 37 C onnecticut 183, 867 178,687j 180, 686, 104, 353| 106, 374i 99, 765J 23, 453 23, 326j 23, 616 18,221! 18, 271 17,419 New York 6, 264, 2666,170, 3011 6,559,247| 2, 456, 0312,477,231! 2,205, 541 j 227, 262J 240,058 223, 609 442, 962! 445,697 410, 081 New Jersey 652, 465 619, 502. 661,736 752, 779 774, 332; 715, 372 179, 990! 169, 3551 173, 077 254, 302; 263, 275 230, 646 Pennsyl vania___ 1,634,721;1, 651, 644' 1,715,161! 1, 471,1471,491,498' 1,401,409 282, 789 j285, 972 283, 457 605,9811 613, 501 582, 552 Ohio... 827, 584 815, 934! 852, 360 1, 042, 8061,050,874^ 986, 841 115,166 115, 014 121, 086 131, 607, 133, 044 129, 542 Indiana 227, 403 226, 548i 221, 604, 183, 120 184, 232! 171,816! 63,241' 64, 927 65, 5511 57,907 57, 822 55, 308 Illinois 1,621,274 1, 609, 942 1, 648, 040' 1, 007, 417 998, 577, 927, 330 149, 260, 151, 202 149, 087 170, 714! 171,395 162,992 Michigan.. __ 582, 448 572, 822 499, 557. 857, 327 864, 727: 818,063 76, 700' 80, 005 72, 445 194, 648, 194, 423 183,167 Wisconsin __ 224, 129 224, 512; 215,635j 241, 090 245,168' 233,860 43, 872' 40, 559 44, 294 90, 830 j 97, 291 91, 870 Minnesota 283, 847 301, 795' 300, 353j 252, 604 251, 303 249, 787| 62, 882! 64, 866 63, 957 111, 2831 111.659 109, 714 Iowa 176, 647 180,403 172,403: 185, D 185, 784 182,118! 76, 877! 78, 895 76, 609| 90,123! 89; 923 90, 437 Missouri 583, 70S1 574, 639: 602, 810' 270, 459 280, 245! 265, 264! 41,375: 42,425 40, 234 28, 018| 27, 868 26, 272 North Dakota 39, 057 40, 533: 40, 972 41, 362| 40, 884 33, 058' 34,999 34,314 34, 374: 34, 861 34, 903 South Dakota 39, 387 41*817j 38, 6731 32, 599 32, 2811 28, 942 32, 2771 35, 022 32,182 30,2311 29, 839 26, 755 Nebraska 121, 227 122, 009 117,089, 53, 955 55, 085 52, 009 44, 680 45, 422'i 40, 842 34, 802; 35, 733! 34, 189 Kansas 140, 180 147, 036 142, 175; 58, 523 60, 307! 57, 802 88, 622 89, 980 86, 356 38, 753| 40,147] 40, 318 Delaware 42, 221! 40, 697' 30, 381! 15,173 15, 559! 14, 066| 3,345 3, 600 3, 594j 10, 183 i 10, 529 9,662 Maryland 132, 500 130, 948! 142, 938: 149,874 150, 383! 150,140! 22, 468 24,028 24,110 60, 740 61, 216 57,834 District of Columbia 82, 978 78, 955, 81,151 42, 669 44, 990j 41,216! Virginia 171,066 165,747, 185, 048 170, 256 173, 600 170, 576| 46, 4271 46, 721 45, 640 79, 556: 79, 66' 75, 938 "West Virginia 87, 200 83, 916! 90, 944 95, 008 97,02o| 91, 682j 39,214 37, 034 44,463 49, 918: 50, 838 47, 707 North Carolina 113,694 109, 082, 122, 991 89, 625 88,9151 89, 615 45, 552 45, 713 48, 648 46,381' 45, 816 47, 438 South Carolina 42, 358 43, 502, 47, 932 . 59, 588 60,456! 66, 581 15. 560 15,834 19,648 24, 394! 25, 406 29,126 Georgia 130, 894 129, 902' 133, 288 105, 658 ' 108,589) 105, 080 29', 214! 28, 997 32, 790 24, 349 24, 744 24, 393 Florida... 96, 207 91,524i 118,234: 98, 420 99,2921 103, 906 33, 009: 31, 538 40, 563 34, 754i 34, 21" 31, 652 Kentucky 145, 905 139,087! 162,134 120, 812 124,641j 115,829 51,431! 49,450 54,8251 47, 634! 48, 613 43,061 Tennessee 135, 685 135,624. 135, 399 117, 028 118, 509! 119,353 28,951, 29, 689 28, 972! 31,237; 31, 944 28,147 Alabama 116,606 113,1931 123,166: 79, 6991 79, 979! 74,865 34,710! 34, 635 37,445 28, 0991 28, 733 26, 644 Mississippi 40, 152 38,258! 39, 955. 33, 478j 33,834 i 34,417 25, 464! 24, 383: 25, 708J 19, 549! 19, 688 20,117 Arkansas 78,198! 71,981: 76, 578 51, 684i 50,843! 48, 969 38, 549 36,92oi 38,2321 23, 666! 23, 542 22, 568 Louisiana 168, 314 150, 754' 100, 677; 79, 815! 78, 3051 79, 296 20,157! 18,7141 19, 111! 12,142! 12,008 11,782 Oklahoma 260, 560 256,886! 259, 021 i 104, 049J 104,249! 89, 369 126,154 126, 924! 132, 872 39, 357' 39, 5581 37,119 Texas _ 703, 748 694, 554, 678, 565! 193, 295J 193,219, 166,065 322,414! 325, 776 307, 451 46, 347! 47, 546! 40,472 Montana 74, 541 73, 4671 66, 529' 63, 056| 62, 5201 49, 787 42, 438 42, 511 40, 400 31,452' 31,06o| 27, 358 I W da y h o o ming 3 2 6 5 , . 1 1 9 3 7 0 : ; 3 2 7 5 , , 4 6 9 4 6 8 j 3 2 6 3 , , 9 9 2 7 8 5 2 1 2 5 , , 8 9 1 2 2 9 ! ; 2 1 2 5 , , 6 91 5 3 4 ] : 2 1 1 4 , , 6 85 5 1 4 2 25 5 , , 1 9 9 7 7 4 1 2 2 7 5 , , 0 6 4 4 8 8 2 2 3 7, , 0 9 5 2 6 8 | 1 1 4 5 , , . 2 8 4 1 3 2 ; 1 1 4 5 , , 3 6 0 5 5 4 j 1 14 3 . , 8 6 5 8 1 9 N C e o w l or M ad e o xico 15 2 3 6 . , 4 5 2 3 6 5 : : 14 2 4 5 , , 0 7 3 8 4 0 ; 14 2 9 4 , , 8 9 7 1 9 5 100 8 , , 6 3 2 1 6 9 | ! 100 8 , ,17 38 8 7! 94 6 , , 9 6 6 5 4 " 2 4 0 4, , 5 5 5 5 0 5 : '< 4 1 5 9 , , 3 33 3 l 8 | 4 1 6 9 , , 0 9 1 5 0 7 1 29 4 , , 8 8 8 1 1 1 , i 30 4 , , 56 08 8 9 j ! 27 3 , , 9 8 5 5 7 2 Arizona 35, 338 32, 825 24,130 17, 345; 16, 704! 12, 550 7,331, 7,142 6, 502! 4,314' 4,162! 4, 086 Utah 58, 495 51, 240 58, 659 33,612i 33, 692; 30, 087 13, 707' 11,133 13,140, 11,668 11,648, 10, 804 Nevada 9, 453 9,421, 9,143 8,411) " 8, 288! 7, 333 9, 453. 9,4211 9,143! 8, 411' 8, 288| 7,333 Washington 201,367! 192, 868 141,002 140, 928:, 137,107 48, 602: 49. 949 48, 210J 37, 3961 37,1171 35, 994_ Oregon 122, 409 127, 464 102,457 102, 778 101,422 56, 309 60, 632 58, 051 i 35, 721 36, 023^ 35, 345 California 1 1,004,286. 981, 877 i1,402, 3391, 384, 464 1, 300, 590 85,052 95,491 93,175j 70, 843 72, 846' 69, 235 1 Includes $51,742,000 of net demand deposits and $73,195,000 of time deposits of a bank which withdrew from the Federal reserve system early in December. NOTE.—For back figures and explanatory notes, especially as regards California, see BULLETIN for December, 1927, pp. 828, 873, and 886-925* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

51 JANUARY, ^29 FEDERAL RESERVE BULLETIN WEEKLY REPORTING MEMBER BANKS REPORTING MEMBER BANKS IN LEADING CITIES PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS [Amounts in thousands of dollars] Federal Reserve District Total ' I l T io W st n o n n ' j Y N o CW rk ! • d P e h l i p l h a" ia Rich- Atlanta1 I Chicago i Minne- K C an it s y as I Dallas F c S i r s a a c n n o - Loans and investmentstotal: Dec. 5 22, 747, 348; 1,509, 583 8, 764, 342 1, 230, 834 2,193, 464779, 845' 648,176-3, 368, 863!715,355 396,916 681,501! 482,352 2,078,132 Dec. 12 122,646,654, I)514, 939 8, 613, 792 1, 232, 088'2, 211, 638926, 387, 642, 963 j3, 376, 625, 722,344 399,576! 687, 399! 480, 730!2, 082,415 Dec. 19 122,817,757: 1,528,2608,665,202 1,241, 794'2,211, 758682,996 655,070 3,383,629' 727,509. 397,066! 687, 951! 505,064;,2,131,458 Dec. 26 ;22,856, 719;i,524,405 8, 782,269 1,243,235 2,196,087680,410' 649,387 3,346,411: 715,592 395,895 691,804' 500,366>2,130, 858 Loans and discounts—total:1. !, ! Dec. 5 !l6, 367,470' 1,089, 515 6, 421, 723' 849, 271II, 476, 980 523, 213, 517, 865 i 2, 503, 015! 508,363 262,277 438,812: 362,4701,413,966 Dec 12. --..\16, 278, 789: 1,096, 215 6, 279, 976: 852, 828; 1, 496, 463 527, 644 513,239 2,516,"" 512,607 264,474 444,561' 361, 780!l, 412, 205 Dec. 19 il6. 345,213' 1,097,493 6,317,990 857, 65811,489, 714 524,028! 515,492 2, 517,832! 515,868 263,856 446,761; 366,1801,432,341 Dec. 26 •16,388,458;'],093,001 6,430,134: 857, 636:1,472,003 524,054 512,160 2,482,6"5"4'. 503,42*! 262,830 448,645; 366,5901,435,323 Secured by U. S. Gov- I •; ernment obligations— : i Dec. 5 j 111,641 12, 029 40,102i 4, 822' 12,348 2,939! 2,656 20,453 4,097 2,498 3,054| 2,346 4,297 Dec. 12 109,940, 8, 368: 40, 578' 5,161 12, 695 3, 084. 2, 574| 20,127 4,020| 2,473: 3,17o! 3,339 4,346 Dec. 19 '• 113,006 8,624 42,810' 5,471] 12, 901 3,237! 2,606i 21,439 4,061; 2,434; 3,156! 2,050 4,217 Dec. 20. : 104,281 8,087 35,080 5, 652 13,427 3,192! 2,650i 20,364 4,035;' 2,429 3,196i 1,959 4,210 Secured by stocks and bonds—' ! ; Dec. 5 ! 7,0(37,227; 421, 730 3,193, 7321 460,148i 657, 645 187,227] 136,197 1,108,860 211,623| 77,417! 108,364 88,200 416,084 Dec. 12 j 6,937,464! 433, 822.3,026, 545• 461, 9241 071,191 189, 525 136, 222; 1,114, 819:215,863! 76,204:' 112,050' 88,553 410,746 Dec. 19 : 6, 913, 392 j 440,370 3,008,867! 466,401 660,039 187,310! 137,506 1,102,621 212,186: 75,330] 114,424! 93,109 415,229 Dec. 26 7,023,48V1! 438,906 3,125,008. 468,018| 653, 885185,241 137,0701,100,622' 216,535' 76,130' 113,276 94,886 413,910 All other loans ond I | I discounts— ; Dec. 5 i 9,188,602 655, 756 3,187, 889 384,301! •800,987 333,047, 379,012' 1, 373, 702 292, 643! 182,362 327,3941 271, 9241 993, 585 Dec. 12 9,231,385' 654, 025! 3, 212, 853: 385, 7431 812, 577| 335,035 374,4431,381,851 292, 724! 185,797: 329,336' 269, 8881 997,113 Dec. 19 ; 9j 318, 815 i 648,499 3,266,313' 385, 786, 816,774 333,481) 375. 38011,393, 772- 299, 62l! 186,092' 329,181! 271,02l!l,012,895 Dec. 26 9. 260, 690!I 646,008 3,270,046j 383, 96cn 804,691 335,621' 372,440.1,361,608 282,8531 184,271! 332,173! 269, 745|l, 017,203 Investments—total: ! Dec. 5 : 6,79, 87811 420, 0682, 342, 619, 381, 563J 716,469 154,632' 130,311; 865,848' 206, 992! 134,639] 242. 689; 119,882! 664,166 Dec. 12 ! 6,367, 865 j 418, 724,2, 333, 816 379, 260 714, 933J 154,743, 129,724,' 859,828' 209, 737! 135,1021 242,838; 118,950 670,210 Dec. 19 ! 6472, 544^ 430, 767 2,347, 2121 384,136 722,044/ 158,968 139,578i 865,797 211,641; 133,210i 241.190! 138,884! 699,117 Dec. 20 ; 6, 4x68W,,2^6x1,,1j 431,404 2,352,135! 385,599 724,084| 156,356' 137,227^ 863,757- 212,164! 133,065! 243,159' 133,776 695, 535 U. S. Government Se- ! ! curities— i i| Dec. 5 ' 2,982,6891 159,2091,178,392] 108,055 332,634! 69,764' 54,814, 366,557' 75,48S: 75,760i 120,18l! 81,626 360,209 Dec. 12 : 2,966,381. 153, 207 1,177,154^ 104, 019 331,384' 69,737 54,576' 359,347 75,884| 75,996j 120,8681 80,893 363,316 Dec. 19 j 3,064,358! 157,367 1,193,311] 111,905' 337,763 73, 265] 65,120j 359,8; 77,354: 73,663! 119,456j 100.707! 394,570 Dec. 26 • 3,056,299: 157,116 1,193, 1111 113,572 337,531 71,957; 63,007; 359, 775; 78,258j 74,078' 120,287! 94,7141 392,893 Other bonds, stocks, . ' I and securities— Dec. 5 397,189 260, 859 1,164, 2271 273, 508 383, 835 84,868, 75,497' 499, 291 131, 504i 58, 871 122, 508 38, 256| 303, 957 Dec. 12 401,484'! 265, 517'1,156, 662| 275,241 383, 549 85,006! 75,148: 500,481: 133,8531 59,106 121,970: 38,057 306,894 Dec. 19 i 3,408,186J 273,400 1,153, 901 '• 272,231 384,281 85, 7031 74,458! 505, 920: 134,287! 59,547! 121,734! 38,177 304,547 Dec. 26 ; 3,4411,962'' 274,288 1,159,024 272,027 386,553 84,399, 74,220i 503,982 133,906! 58, 987' 122,872| 39,062 302,642 Reserve balances with ! i Federal reserve bank: ! Dec. 5 : 1,729,381! 100,816, 787,323 80, 073 132, 432 42,011, 38, 529 262, 247 47,999! 24, 977 56,130! 35, 005 121, 839 Dec. 12 ' 1,783,450; 101,319! 839,738| 77,857 124, 615 42, 054' 42, 3581 268, 506 49, 7911 27, 7651 59,049; 37,619 112, 779 Dec. 19 i 1,709,287 97, 963; 801,337' 77,153 116,768 41,8321 39, 591 i 262,560 45, 984] 23,745 55,437] 34,714 112,203 Dec. 26 ' 1,775, 824i 100, 924: 830,177' 79,683 129,180 41,108j 42,339' 269, 111! 48, 996 26,367 58,288] 35,772 113,879 Cash in vault: i Dec. 5 I 270,402] 20, 695j 71,374' 16, 893' 32,834 13, 250! 13,689! 43,397' 8,861 6, 235; 11,341 9,112 22, 721 Dec. 12 | 289,998.' 21, 4491 79, 092, 18, 889j 35, 548 13, 925i 12,803! 45,857' 9,454 6,847' 12, 345, 9, 840^ 23,949 Dec. 19. ' 314,417] 22,613] 91,866 20, 599 39, 603 14, 6301 12,422; 48,746i 9,979 6, 597: 12,196 9, 944 25,222 Dec. 26. ; 328,101 24,942| 94,692i 19,792, 37,018 15, 268| 13,C0i: 52,398'. 10,4611 7, 222' 13,999| 11,301 27,407 Net demand deposits: I ! ; I Dec. 5 '13, 561, 670 918,9725,983,437 728,117:1,034,3 is| 377,478; 402,955! 238,247, 498,031! 318,652 863, 548 Dec. 12 13, 549, 422' 919, 652 5, 883, 616! 723, 684 1,031, 586 377, 563' 326,110 1,871,805! 418,018; 238,370; 509.103 i 323, 699! 868, 878 Dec. 19 :13,3S1,389! 917, 581 '5, 826, 693 714,081)1,020,038 364, 845! 338,895 1,916,358' 409,2S3| 229,947; 498', 026! 316,705 864,243 Dec. 26 ;13, 323, 952.| 901,168 5, 863, 747 717, 715!1,014, 933 363, 713! 337,556.1,882,441, 405,097; 225,051' 501, 8111 316,909 854,098 Time deposits: ! ! 331,758jl,827,952! Dec. 5 ;, 6,905,907; 474,935 1,727,715! 292,703 959,151 240,522 238,458 1,264,723 230,219J 137,006! 179,5711 132,435 1,028,469 D D e e c c . . 1 1 9 2 .,. i ; 6 6 , , 9 9 0 22 5 , , 2 3 3 8 7 8 ' 4 47 7 5 3 , ,8 55 4 9 9 1 1 , , 7 7 2 2 2 5, , 4 5 5 0 8 7 ' 2 2 < 8 J 8 2 , , 2 2 0 3 9 3 | 9 9 5 48 2 , , 7 6 9 9 3 0 1 j 2 2 3 4 9 3 , , 3 6 6 6 6 3 237, , 694! ! 1 , 2 2, 7 7, 2,213 2 2 3 3 1 0 , , 8 6 0 4 1 5 : ; 1 1 3 3 7 5 , , 3 4 9 3 8 1 ! ! 1 1 7 7 9 9 , ,8 5 2 0 2 8! ! 1 1 3 3 8 3 , , 8 4 4 7 8 3 1 1 , , 0 0 3 37 8 , , 3 0 8 3 7 1 Dec. 26 6,642,053 477,3071,735,682 295,006; 950,192 240,961 236,948 1,275,439; 230, 916! 137,207 178, 953'• 139,510 1,047,253 Government deposits: 236,3081,272,578 Dec. 5. 18,398 1,443! 5,913 1,427 1,6141 1, 507 1,6C0 503! iso 422! 1,346 1,696 Dec. 12 • 3,631 ! 299: 1, 159: 287 320| 135! 314: 311 lull 15: 82' 270 338 Dec. 19 : 249,179 ' 5. 954 74, 7<?0: 14, 488 24, 0381 6,312. 14,314: 12,228 6,4'.0i 1,328 3, 4S2! 23, 228 61, 921 Dec. 26 i 197,895! 4,689 58.871. 11,512; 19, 044] 4, C19j 11, U0 5,Ct^ 1,044 2. 741! 18,280 48,703 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

52 FEDERAL RESERVE BULLETIN JANUARY, 1929 REPORTING MEMBER BANKS IN LEADING CITIES—Continued PRINCIPAL RESOURCES AND LIABILITIES, BY WEEKS-Continued [Amounts in thousands of dollars] Federal Reserve District Total Rich- San Boston mond Atlanta' Chicago Francisco Due from banks: Dec. 5 _ 197, 584! 52, 938 142, 326 61, 826 93,521 57,808 84,407 239, 840 58, 714 60,039 127,461 72,982 145, 722 Dec. 12.... 185, 094! 48,481 138,701! 58,556 92.140 51, 810 79, 845 236, 610 60,457 j 58,033! 131,688 65,761 163,012 Dec. 19 233,32o: 44,320 158,923 63,639 102, 447 51, 459! 83, 455 234, 588 61, 68l! 54,538i 129,133 69,478 179,664 Dec. 26. 50, 533 146, 233: 59, 737 103, 970 52, 202 84, 555 233,120 57, 532! 50,384: 121,448 63,328 163,906 Due to banks: D D e e c c . . 5 12 _ _ _ _ 3 3 i ! ,, ., 3 2 3 3 0 7 , , 2 2 2 6 2 4 i ; 1 1 5 3 1 7 , ,0 34 7 8 2 1 1 , , 2 2 2 4 5 7 , , 5 7 5 6 1 3 : ! 1 1 6 7 5 6 , , 5 3 9 2 5 8 2 21 2 0 1 , , 2 3 7 6 9 2 1 11 2 1 0 . , 0 1 0 3 0 9 1 1 2 2 0 2 , , 7 2 6 81 3 ; . 4 4 6 8 9 5 , , 6 2 1 6 3 21 13 4 7 0 , , 0 4 7 5 8 0 ; 1 9 9 4 4 , , 9 0 8 1 2 0 : : 2 2 2 2 3 3 , , 5 7 8 1 8 8 1 1 2 3 8 4 , , 7 0 6 5 0 4 2 21 1 3 2 , , 9 5 9 0 0 0 Dec. 19.. 3! 144,0201,211,770 165,451 208,, 661Hi; ; 558 122,,441: 465, 685141, 698! 92,616' 220,555 122,527 202, 665 Dec. 26 3, 230, 963 131, 8011, 209, 292! 172, 472; 216,609: 112,371 125,72991 478, 308143,492 93,055 220,227 124,410 203,197 Borrowings from Federal reserve banks—total: ; j Dec. 5 785,498 29, 868 287, 3001 45, 817 74, 280 19, 486 34, 201 159, 887 23, 636 5,084 23,811 16,532- 65,596 Dec. 12.... 792,737 33,121 283,363; 56,301 104,025; 24,602. 30,315 140, 703 24, 356 7,802, 24,448 13,531 50,170 Dec. 19 _. 700,171 j 38,900 185, 556! 60,786 83. 0351 23, 5351 34, 358 144, 814; 27, 415 3,809 24,142 14,733 ] 59,088 Dec. 26 918,123|! 63, 675 342, 946 57, 511 97,668 24,074 35,848 166, 568 27, 494 10,161' 29,387 13,492 49,299 Secured by U. S. Government o b 1 i g a tions— Dec. 5 548, 024 12,025! 243,094; 31, 52, 222 7, 461 10, 967 104,879: 12,339 2,880 14, 788 10, 213 45, 796 Dec. 12..._ 526, 239 15,060! 216,427! 40, 66,307 13,157 9,737 88, 502 12, 843 5,495! 15,433 8,348 34, 050 Dec. 19 -. 449, 401 16,970; 137,207' 43", 584 53,453 12,932 11,273 90, 434' 16, 556 1,355 13, 954 10, 240 41,443 Dec. 26 567,153 24,145 222, 402; 41, 584! 66,190 12, 429 10, 220 107, 091 19, 223 7,970! 20,449, 11,355 24,095 All other- Dec. 5.__ _. 237, 474J 17, 843 44, 206! 14, 457 22, 0581 12,025 23, 234 55,008 11,29' 2, 204. 9, 023i 6,319 19, 800 Dec. 12.. 266,498' 18, 061 66,936! 15,421i 37,718 11,445 20,578 52,201 11,513 2, 307! 9,015| 5,183 16,120 Dec. 19 250, 770 21,930 48,349! 17, 202 29,582 10,603; 23,085 54,380 10, 859 2,454 10,1881 4,493 17, 645 Dec. 26 350,970 39, 530 120, 544 i 15, 927 31,473 11,645 25,628 59, 477 8, 271 2,191! 8, 938; 2,137| 25, 204 Number of reporting banks: Dec. 5 _ 630 35 76 46 64: 92 29 24! 64i 44! 55 Dec. 12 629 34 64 92 29 24j 64 44, 55 Dec. 19 628| 34 46 64| 91 29 24 64 44 55 Dec. 26.. 626' 34 64; 91 29 24! 64 43 55 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 53 REPORTING MEMBER BANKS IN FEDERAL RESERVE BANK CITIES PRINCIPAL RESOURCES AND LIABILITIES BY WEEKS [In thousands of dollars] City Total i Boston Y N o ew rk d P e h lp il h a i - a | C l l a e n v d e- m Ri o c n h d - la A n t t - a Chicago L S ou t. is M ap i o n l n is e- K C s a i a t n s y - • | ! Dallas F c S i r s a a c n n o - Loans and investments: Dec. 5 14, 446, 812 !1,014, 2477, 535, 639 1, 045,1311 807, 741110,019 100, 517 2,100, 944 432,350 192,044| 184,324! 144,266 779,590 D D e e c c . . 1 1 9 2 ; i 1 l4 4 , , 3 2 9 8 5 1f , 8 7 1 7 5 l! ! ' ; l l , , 0 0 2 1 6 6 , , 1 9 3 5 7 1 7 7 , , 4 3 3 7 3 6 , , 9 2 6 2 9 2 1 1 1 , , 0 04 5 4 4 , , 6 2 5 0 0 0 . 1 8 8 1 1 5 1 , , 0 1 1 6 1 2 1 11 0 1 9 , , 0 28 3 2 5 J 1 9 0 9 1 , , 3 6 9 3 0 9 2 2 , , 0 0 9 9 0 7 , , 5 26 6 1 1 4 4 4 3 0 5 , , 7 8 3 5 7 3 | 1 19 9 0 1 , , 4 O 9 oO 5 l 1 1 8 8 4 3 , , 3 6 7 7 6 5 , 1 1 5 4 8 1 , , 1 0 2 8 5 7 7 7 9 6 5 9 , , 0 6 8 3 2 6 Dec. 26. il4, 475, 289 1,023, 887 7, 549, 792 1,053,147: 798, 772109,962 100, 542 2,079, 814 429,926 192,84o| 183,732; 151,084 801,785 Loans: ! | Dec. 5 _.-|10,807, 791 i 822,1865,614,645 727,998: 637,514 74,1471,636,014 311,413 127,937 117,601: 108,966 539,708 Dec. 12 10,672,104; 825, 731 5, 465, 852 729,393! 644,339 90, 960 73,291|1,637,447 313,211 125,906 118,336: 108,334 539,304 Dec. 19 J10,729,740 828, 233 5, 513, 472 734,057' 635,636! 88,120| 74,1771,634,278 316,296 126,785 119,186 107,884 551,616 Dec. 26. 110, 804,851 825,452 5,624,257 731,576 622,725 89, 505; 72,919|1, 621,794 304,638! 127,789; 118,254: 105,332 560,610 On securities— j Dec. 5...- ! 5,067,874 308, 464^2, 819, 910 389,942, 242,3481 26, 756i 24,866! 841,885 153,204 32,958 29,440, 24,213 173, 888 D- ec. l•: - 4,915,031 316,0102,653,392 390,050 247,2941 26, 599i 23,296j 840,990 155,416 33, ISO; 31,136i 24,188 173,480 Dec. 19. 4, 900,949! 322, 891 2, 639,043 395,357: 241,220! 25, 778^ 23,322 837,791! 151,874 32,586 32,571 24,673 173, 843 Dec. 26. 5, 006,332| 322,366I2,747,936, 394,9501 232,747J 26, 715i 23,612 839,074! 154,424: 32,961 31,916i 24,575 175,056 All other— i Dec. 5 ! 5,739,917 513,722'2,794,735! 338,056' 395,166 62,906' 49,281 794,129! 158,209' 94,979 88,161 84,753 365,820 Dec. 12 i 5,757,073 509, 721 2, 812, 460! 339,343| 397,045 64,361; 49,995; 796,457 157,7951 92,726 87,200 84,146 365,824 Dec. 19.- i 5,828,79lj 505,342 2, 874, 429; 338,700 394,416 62,342! 50,855! 796,487i 164,422' 94,199 86,615 83, 2111 377,773 Dec. 26 ! 5,798,519' 503,086 2,876,3211 336, 626| 389,978 62,790! 49,307; 782,720 150,214 94,828 86,338 80,757 385,554 Investments: ! j Dec. 5 I 3,639,0211 192,0611,920,994' 317,1331 170,227 20,3571 26,370! 464,930! 120,937 64,107 66,723 35,300 239,882 Dec. 12 3,609,711, 191, 220! 1,911,117 315,257! 170,672 20,322 26,099i 459,814 122,642! 64,144 65,339, 32,753j 230,332 Dec. 19 3, 666,03li 197,9041,919,750! 320,143| 175,526 20,915! 27,462! 456,283! 124,441, 64,710 65,190! 50,241 243,466 Dec. 26 - 3,670,438 198, 435 1,925, 535, 321,571 176,047 20,457; 27,623 458,020 125,238 65,057 65,478 45,752 241,175 Reserve with Federal reserve ! bank: I Dec. 5 1,226,500 77, 310 725, 618 72,246; 43,410 7, 2091 6,355 183,434 30,190 i 11,519 16, 689: 10, 427 42,093 Dec. 12 1,284,814 76, 282: 778, 501 70,142J 42, 566 7, 654! 7,351 188,1961 32,108: 13,502 17, 529 10,3011 40,682 Dec. 19 _ i 1,232,376 77, 740' 741,972 68,954 34,417 7,408 7,068 187.644i 29,336| 10,919 17, 594| 9, 408 39,916 Cash D e in c. v 2 a 6 u lt: ! j 1,263,771 74,681; 761,207 71, 208 42, 967 6,631 7,912 189,862 30,014 13,693 15, 447' 9, 527 40, 622 D D e e c c . . 5 1 2 ---i | 1 1 2 3 4 6 , , 3 7 3 9 1 0! 9 8, , 0 8 5 0 6 5 ! 6 5 2 5 , , 9 69 1 8 0 J 1 1 5 3 , , 6 96 9 3 8 10 9 , , 3 4 8 4 4 3 1,0 9 1 9 8 6; l 1 , , 3 2 6 1 1 8 i ! 1 19 8 , , 8 8 4 9 6 4 ; ; 4 4, , 6 3 4 4 6 6 i 2 1 , , 1 9 9 2 6 9 2 2, , 3 2 7 1 8 7- 1 1 , , 5 3 2 8 1 0 j ! 5 5 , , 4 7 7 3 9 9 Dec. 19 i 153,712 10,104, 73, 599 17, 089 11, 266 1, 204| 1,356! 21, 537i 5, 044: 2,136 2, 497| 1, 596 6, 284 Dec. 26 160,938 11,8591 76, 400 16, 277 11, 548 1,064j 1, 532: 23,374i 5,051 2,347 2,838j 2,037 6,611 Net demand deposits: Dec. 5 9,333,117 682,3845,395,135 638,269! 285,642 62, 699! 52, 3001, 266, 8451 264,773 117, 253156, 5541 91,095 320,168 Dec. 12 i 9,241,428 680,486:5,294,245 633,773 283,673 63, 348 54, 4991,281,768! 272,3431 115,018 158,131; 92,574 311,570 Dec. 19 -I 9,133,681 682, 615:5, 247, 296 o62o2o , 7T77A4 n2n6n 9,1-l3o5t 59,014 57,014|l,258,327! 270,100; 115,411 156,418 87,892; 307, 685 Dec. 26____ ' 9, 111, 563 668, 708 5, 283, 250 626,346 272, 695 60, 401 54,3871,225,927; 260,610; 110, 609154,156 87,993! 306,481 Time deposits: Dec. 5.. - 3,485,387 253,0901,197,244 235,3971 499,886 32,320 38,402 673,590' 130,009! 58,586 29,286 317, 071 Dec. 12 3,483,606 253,258,1,192,050 231,175! 496, 626 31,8051 38,836 684,224: 128,011: 58,637 29, 786 318,947 Dec. 19 3,488, 426 250,97911,195,990 232,820! 495,307 31, 596i 38, 775 689,660 127,537, 59,011 29, 781 316, 425 Dec. 26 3, 509,778 252,835,1,206, 681 233, 633. 497, 553 31, 664! 38, 893 689,602 127,607: 59, 716 30, 859 320, 597 Government deposits: Dec. 5 12,987 1, 295! 5, 572J l,381j 335 99 1,079^ 465' 78 903 1,063 Dec. 12.._ 2,591 265; 1,101 277 67 19 110 211 03 11 182 213 Dec. 19 182,750 4,882i 67,953! 14, 204 8,183 1, 3, 542! 7, 505 6,153! 1,184 18, 059 Dec. 26 _ 143,763 3,845 53,487i 11,369 6,440 1,183 2,789 5,903 4,842; 932 14, 216 38, 285 Due from banks: Dec. 5 554,767 39,790 102,787; 54,946 22,047 6,481 12,766 157,978; 27,947 24,938 21, 778 52, 693 Dec. 12 539,676 36,138i 101, 242 53,175) 23,794 13,054! 153,139 28,160 24,869 19,725 49,894 Dec. 19 591,662 33,990 123,650 58, 679 24,588 6,508 13, 564! 156, 679 30,341; 23,725 20, 901 64, 606 Dec. 26__ 565,463 37,851 110,635; 54,017 28,079 7,390| 13,3911 155,518 29,355, 22,129 19, 713 53,523 Due to banks: Dec. 5.... 2,307,782 140,5851,185,060 169,912! 58,567 30, 528! 17,828j 347,942 78,187: 55, 743 98, 739 Dec. 12 2,242,459 126,984 1,166,371 159,755! 57,785 28,5371 16,138 334,469; 76,702! 53,478 38,684 101,610 Dec. 19 2,241,114 136,392 1,155,343 159,714 57,133 27, 820! 19, 047 332, 299! 81,142 53, 682 36, 216 99, 566 Dec. 26 _ I 2,242,074 123,372 1,153, 819 166, 418 58,387 27, C 18, 759 342,155! 78, 299 53, 600 37, 516 99, 291 Borrowings from Federal re serve banks: Dec. o._ 513,057 21, 540 243,938, 34,885; 14,007 3,07: 6,384[ 101,939 7,350! 2,530 11,287! 57,267 Dec. 12 477,975 22,895 220,235 45,642 27,401 4, 553| 5,307! 83,795 7,465' 5,155 9, 6531 6,742 39,132 Dec. 19 29, 420 138, 600 50,866 18, 582 3,588 3,023' 75,493 7,975i 990 12, 035! 8, 713 49, 579 Dec. 26 579, 049 46, 745 280, 675 49, 509 17, 741 4,916 3,216 101,125 9,700, 7,775 12, 378 5,877] 39,392 Number of reporting banks: I Dec. 5 203:! 16 44 34 8 43 11 13 ,1! Dec. 12 202, 15 44: 34 43 11. 13! Dec. 19 ' 202 15 44; 34 43 ! 13 Dec.26 -: 20l' 15 43 34. 43 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

54 FEDERAL RESERVE BULLETIN JANUARY. 1929 LAND BANKS AND INTERMEDIATE CREDIT BANKS LOANS OF FEDERAL AND JOINT-STOCK LAND BANES LOANS OP INTERMEDIATE CREDIT BANKS fin thousands of dollars] [In thousands of dollars! i Net amount of loans outstanding 1928 1927 Date Federal i Class of loan Nov. Oct. Sept. Aug. Nov. TotaI 30 31 30 31 26 1927 Direct loans outstanding Jan. 31 ; 1,724,821 1,085,170 639,651 on- Feb. 28 1,745,404 1,097,642 647,762 Cotton 19, 549 16,684 4,172 192 12,983 Mar. 31 i 1,765,365 1,109,354 656,011 Tobacco 1,676 1,768 1,955 2,230 4,827 Apr. 30. L. 732,395 1,117,914 614,481 Wheat ... 2,519 2,517 2,123 1,734 2,522 May 31. ,, 741, 275 1,124,055 617, 220 Canned fruits and vege- June 30. _. 1,738,165 1.130, 648 607, 517 tables 2,370 2,723 2,983 2,157 1,290 July 31... 742,575 1,134,896 607, 679 Raisins 4, 696 4,627 5,039 5,555 5,300 Aug. 31... 749,393 1,139,502 609,891 Wool 663 769 946 951 663 Sept. 30.. 752,665 i 1,143,130 609, 535 Rice 1,397 650 415 569 1,438 Oct. 31._. ,757,185 ! 1,147,135 610,050 All other 259 205 108 89 471 Nov. 30... ,758,834 1,150 943 607,891 Dec. 31... Lf 765,121 1,155,644 609,477 Total 33,129 29, 943 17, 741 13,477 29, 494 1928 Rediscounts outstanding Jan.31... ., 767,515 1,158,717 608,798 for- Feb. 29.... 1,778,338 1,168,354 609,984 Agricultural credit cor- Mar. 31.... "., 786,862 1,175,858 611,004 porations 23, 745 27,112 30, 461 32, 201 23, 751 Apr. 30..- 1,791,341 1,180,420 610,921 National banks 3 3 3 2 12 May 31... , 793,035 1,183, 672 609, 363 State banks 195 192 305 331 172 June 30___. [, 794,236 1,184,656 609, 580 Livestock loan compa- July31___. 1, 793,610 1,185, 714 607,896 nies . . .. 21, 482 19,198 19,992 20,846 17, 953 Aug. 31.... ., 796,591 1,187, 365 609,226 Savings banks and trust Sept. 30... , 797, 796 1,189,345 608,451 companies 131 99 117 121 32 Oct. 31.... :, 797,910 1,190, 278 607, 632 Nov. 30— ., 797,319 1,191, 724 605, 595 Total 45, 556 46, 604 50, 878 53, 501 41, 920 * Number of banks, 1927: January-March, 55; April-May, 54; June- August, 53; September-November, 52; December, 51 1928: January- PAR COLLECTION SYSTEM April, 51; May to date, 50. BANK DEBITS MEMBERSHIP, BY FEDERAL RESERVE DISTRICTS DEBITS TO INDIVIDUAL ACCOUNTS, BY FEDERAL [Number of banks end of November] RESERVE DISTRICTS [In thousands of dollars] Nonmember banks Member banks c S en ^ t f e rs I I N ov 1 e 9 m 28 b er,! I Oc 1 t 9 o 2 b 8 er, Nov 1 e 9 m 27 ber, Federal t r r i e c s t erve dis- On par list jNot on par list ] 1928 1927 i 1928 1927 1928 1927 New York City 1 i 45,469,235 i 45,189, 470 33, 281, 668 Outside New York City 141 : 25,879,883 27, 704, 646 23,803, 363 Federal reserve district: United States 8,882 9,067 12,713 13,306 ! 3,913 3,913 A N B P C R h o i l e t c e l i w s a l h v t a n o m e d Y t n l a e a o o l n n p r d d h k - . i _ a _. 46 2 2 2 1 , , , , , 4 9 7 7 6 3 5 2 3 5 5 7 0 0 7 7 8 , 5 , , , , , 6 9 2 0 1 3 7 9 4 7 3 5 3 1 0 4 5 0 46 3 3 2 1 , , , , , 8 0 0 2 7 2 0 6 4 0 5 4 9 5 5 2 6 2 , , , , , , 3 0 9 6 8 7 7 6 6 3 5 3 6 0 9 7 1 3 3 3 2 2 4 1 , , , , , 0 0 1 7 2 4 1 9 2 9 6 6 9 5 8 6 4 6 , , , , , , 1 5 4 8 6 7 6 3 1 8 4 4 8 4 5 1 2 8 A N P C B R h l o i t e e c l i w s a l v h t a n o e m d Y n t l a a e o o n l n r p d k d hia 4 8 9 4 7 5 2 0 3 5 7 5 0 8 7 4 9 0 8 9 4 4 7 5 3 6 3 7 6 1 7 4 5 9 8 3 I 1,0 4 4 3 6 2 1 0 9 1 3 5 2 9 6 4 1 1 1,0 4 4 3 2 6 2 9 1 5 1 4 9 7 3 9 1 8 ; ! j j i • 9 5 6 7 9 9 0 1,0 6 1 0 1 9 1 0 S M S K D C a t h a a . i n l n i n L l c s a n F a o a s e r g u s a a i o n s C p . _ c - o i i _ t s l y c is o .... 6 3 1 1 , , , , 8 7 2 6 7 3 5 3 1 9 7 1 8 9 2 5 9 6 , , , , , , 3 4 5 7 5 6 6 7 0 2 0 3 2 2 6 3 5 7 7 3 1 1 1 , , , , , 8 0 9 4 0 5 5 3 3 1 1 2 1 3 4 9 , 0 1 , , , , 4 , 9 0 9 3 9 5 6 5 3 5 7 8 3 7 9 4 1 5 3 1 1 , , , , 4 8 7 7 2 2 3 5 2 1 8 9 9 0 8 9 2 4 , , , , , , 1 1 0 6 3 3 1 8 9 1 2 1 1 0 4 4 6 8 S C M D S K t a h a a . i n l n i n L l c n s a F a o a s e r g s u a a o p i n C s - o c - . i l i - t i s y s co. _. 1,2 5 9 7 6 7 5 8 3 4 2 8 5 9 6 4 3 7 1,2 5 8 9 6 7 9 9 0 6 7 4 1 6 5 7 1 1 , i 2 3 1 , , , 2 5 7 6 6 6 4 8 6 9 3 8 1 3 7 2 2 5 3 2 1 , , ,8 7 3 6 7 7 9 0 9 7 1 7 3 1 5 4 5 1 : : j ' i 1,1 4 2 2 2 1 8 1 1 8 5 7 6 1 0 6 5 1,1 4 2 2 1 4 0 5 3 8 5 4 C 4 9 8 8 Total 141 • 71, 349,118 72, 894,116 57, 085, 031 I 1 Incorporated banks other than mutual savings banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 00 CONDITION OF ALL BANKS IN THE UNITED STATES Table 1.—ALL BANKS IN THE UNITED STATES1—PRINCIPAL RESOURCES AND LIABILITIES, ON CALL DATES, BY FEDERAL RESERVE DISTRICTS [In millions of dollars. Figures are for the dates indicated or nearest dates thereto for which figures are available] Total loa m ns e n a t n s d invest- Loans 2 a Investments Dep b o a si n t k s , d e e x p c o lu s s i i t v s4 e of Re b d il i l s s c o p u ay n a ts b a le nd Federal reserve district and call date All i Mem- Non- All 1 Mem- Non- All Mem- Non- All Mem- Non- All Mem--Xonbanks i ber mem- banks ber mem- banks ber mem- banks ber mem- banks ber ;-mber ber ber ber All districts: 1926—Dec. 31. _. 52,018 31,642 20, 376 36, 759 ' 22,652 14,106 15,260 8,990 6,269 50,029 . 30,474 19, 555 1,084 : 760 ! 324 1927—June 30. __ 53, 750 i 32,756 20,994 37, 360 22, 938 14,421 16, 391 9,818 6,573 51, 662 31, 269 20,393 816 ! 541 •• 275 Dec. 31... 55,450 | 34,247 21, 204 38,407 23, 886 14, 521 17, 043 10, 361 6, 683 52, 909 32,063 20, 846 894 : 663 : 230 1928—June 30—*57, 241 i 35,061 *22,180 *39,454 24, 303 *15,151 17, 787 10, 758 7,029 *53,378 • 32,133 *21, 245 *1, 560 , 1,209 *351 Oct. 3 57,187 I 34,929 22, 258 39,650 24, 325 15,325 17, 537 10, 604 6,933 53, 683 32,138 21, 544 1,501 . 1,154 : 347 Boston: i 1926—Dec. 31 — 5,940 : 2,428 3,512 3, 817 1,708 2,109 2,123 720 1,403 5,594 1 2,286 3,308 91 : 84 i 7 1927—June 30— 6,199 | 2,536 3, 663 3,930 1,744 2,186 2, 269 792 1,477 5,811 ; 2,359 3,452 70 60 ; 10 Dec. 31... 6, 367 ' 2,583 3, 784 4,021 1,765 2,256 2,345 817 1,528 6,009 2,444 3, 565 40 ' 32 i 8 1928—June 30... 6, 64.4 2,642 4,002 4, 226 1,849 2,377 2,418 793 1,62) 6,106 ; 2,351 3,755 108 92 16 Oct. 3 6, 628 2,587 4,041 4,208 1, 806 2,401 2,420 781 1,639 6,185 2,396 3,789 74 52 ; 22 New York: 1926—Dec. 31... 15, 728 ! 9,667 6,061 10, 793 '' 6,861 3,932 4,935 ! 2,806 2,129 15,168 i 9,701 5,467 253 212 , 41 1927—June 30— 16, 693 j 10,126 6,567 11, 388 7,026 4, 362 5,305 3,100 2,205 16, 264 , 10,002 6,262 136 113 ' 23 Dec. 31... 17, 502 i 10,947 6, 555 12,166 7,789 4,377 5,336 i 3,158 2,178 16, 312 10,021 6,291 328 314 14 1928—June 30— 18, 201 11,098 7,102 12, 604 7, 759 4,845 5,597 | 3,340 2, 257 16, 613 9,983 6,630 523 481 i 42 Oct. 3 17, 894 10, 827 7,067 12,486 . 7,590 4,896 5,408 3,236 2,171 16, 658 9,922 6,737 428 391 : 37 Philadelphia: 1926—Dec. 31... 4,034 2,478 1, 556 2,547 1,616 931 3,487 862 625 3,602 : 2,166 1.436 111 75 ! 36 1927—June 30-.. 4,115 2,531 1, 584 2,504 1,604 900 1, 611 927 684 3, 646 . 2,187 i;459 93 66 i 27 Dec. 31... 4,241 2,588 1, 653 2, 592 1,616 976 1, 650 972 678 3,787 2,243 1,543 101 ; 73 : 29 1928—June 30— 4, 365 2, 656 1, 709 2,636 1,690 946 1, 729 966 763 3,764 2,232 1,532 160 113 : 47 Oct. 3 4,401 2,693 1,708 2,728 1,730 998 1,673 964 709 3,806 2,256 1.550 170 1 114 ! 57 Cleveland: 1926—Dec. 31 — 4,481 3,133 1,348 3,067 2,144 923 1,414 989 425 4,146 2,883 1, 263 120 l 91 : 29 1927—June 30.-_ 4, 635 3,267 1,368 3,098 2,179 919 1,538 1,089 449 4,332 3.035 1,297 69 | 49 ! 20 Dec. 31 — 4,689 3, 296 1,393 3,100 2,162 939 1,588 1,135 454 4. 355 3,029 1,326 93 ! 68 ! 24 1928—June 30— 4,887 3,448 1,440 3,231 2,266 966 1,656 1,182 474 4; 490 ! 3,139 1,351 140 111 i 29 Oct. 3_... 4, 859 3,427 1,432 3,247 2,274 973 1,612 1,153 459 4,501 3,138 1,363 109 78 i 30 Richmond: 1926—Dec. 31... 2,395 1,275 1,120 1,865 1,011 854 530 264 266 2,222 1,164 1,058 73 37 ! 36 1927—June 30... 2,423 1,311 1,112 1,841 1,014 827 582 297 285 2,244 1,193 1,051 67 ' 35 i 32 Dec. 31... 2,517 1,362 1,155 1,871 1,028 843 646 334 312 2,378 1, 242 1,136 47 31 ! 16 1928—June 30-.. *2, 531 1,344 *1,187 *1, 881 1,021 *861 650 324 326 *2, 284 • 1,188 *1,096 *107 69 i *38 Oct. 3 2,546 1,339 1,207 1,902 1,023 879 644 316 328 2,303 1,193 1,110 112 ; 63 I 49 Atlanta: 1 1926—Dec. 31... 1,787 1,158 629 1,458 927 531 329 231 98 1, 741 1, 092 649 89 •. 53 36 . 1927—June 30_._ 1,726 1,141 585 1,373 885 488 353 256 97 1,674 1,066 608 69 ! 42 ! 27 i • < Dec. 31— 1,751 1,165 589 1,369 888 481 384 276 108 1,736 1,104 632 56 ; 34 : 22 I 1928—June 30— 1,753 1,173 579 1,378 910 468 375 263 112 1,640 1,072 568 94 51 ; 39 t Oct. 3.... 1,760 1,188 573 1,366 901 465 395 286 108 1,611 1,027 584 130 ! 111 ! 19 Chicago: 1926—Dec. 31 — 7,174 4,543 2,631 5,497 3,388 2,109 1,676 1,154 522 6,972 4,318 2,654 182 108 ; 74 1927—June 30... 7,407 4,712 2,695 5,575 3,461 2,114 1,832 1,251 581 7,171 4,466 2,705 131 68 : 63 Dec. 31 — 7,495 4,859 2,636 5,583 3,519 2,064 1,911 1,339 572 7,327 4,649 2,679 123 68 i 55 1928—June 30... 7,826 5,118 2,709 5,810 3,698 2,113 2,016 1 1,420 596 7,517 4,806 2,712 225 165 ! 60 Oct. 3 7,866 5,137 2,729 5,887 3,772 2,115 1, 979 1 1,365 613 7,505 4,776 2,730 190 | 133 j 57 St. Louis: 1 [ 1926-Dec. 31... 2,059 1,313 746 1,541 946 595 517 366 151 1,965 1,186 779 67 36 l 31 1927—June 30. _. 2,096 1,337 759 1,537 930 607 558 406 152 1,976 1,187 789 63 38 1 25 Dec. 31 — 2,128 1,377 752 1,546 953 592 583 423 159 2,053 1,250 803 47 21 •' 26 1928—June 30... 2,129 1,384 744 1,532 942 590 597 442 155 1,992 1,215 777 100 ! 65 : 35 Oct. 3 2,149 1,401 748 1,554 973 581 595 1 428 168 1,992 1, 215 111 104 ' 70 ; 34 Minneapolis: 1 ] 926—Dec. 31 — 1,495 862 633 995 554 441 499 308 192 1,526 847 679 19 i 5 i 14 1927—June 30. _. 1,485 851 634 956 531 425 528 320 209 1,507 842 665 18 1 5 i 13 Dec. 31... 1,527 897 630 955 547 408 571 350 222 1,560 . 886 674 12 ; 3 '' 9 1928—June 30— 1, 549 909 640 947 544 403 601 365 237 1, 567 895 673 19 I 8 1 11 Oct. 3 1,562 928 634 957 558 399 605 ! 370 235 1,595 918 678 22 | 14 j S Kansas City: 1926-Dec. 31... 1,828 1,136 692 1,374 in 597 454 359 95 1,924 1,148 776 21 ! 7 ! 14 1927—June 30... 1,832 1,154 678 1,355 776 579 476 377 99 1,916 1,158 758 27 '• 12 ; 15 Dec. 31 — 1,868 1,191 677 1,353 783 570 515 408 107 1,957 1,185 773 22 i 10 ; 12 1928—June 30... 1,893 1,224 669 1,336 789 547 557 436 122 1,962 1,208 755 29 , 19 9 Oct. 3 1,932 1,242 690 1,363 806 557 569 i 436 133 2, 013 1,228 785 29 ; 21 ! 8 1926—Dec. 31 — 1,029 807 222 841 652 189 189 \ 156 33 1,053 800 253 is! 10! 0 1927—June 30— 1,064 831 233 853 654 199 211 177 34 1,049 800 249 19 12 7 Dec. 31... 1,136 898 238 891 694 197 245 204 41 1,182 897 285 4 : 2 ' 2 1928-June 30— 1,163 916 248 895 692 203 268 224 44 1,146 885 261 18 11 ! 6 Oct. 3 1,211 960 251 930 725 205 281 i 235 46 1,204 919 284 37 30 ; 7 San Francisco: 1926—Dec. 31... 4,068 i 2,842 1,226 2,962 2,067 895 1,107 776 331 4,116 2,883 L, 233 43 42 1 1927—June 30.._ 4,077 2,961 1,116 2,949 2,134 815 1,128 i 827 301 4, 073 2, 974 L, 099 54 , 41 . 13 Dec. 31... 4,227 3, 084 1,143 2,959 2,141 818 1, 267 943 325 4. 253 3,114 ,139 20 7 ! 13 1928—June 30_._ 4,300 3,149 1,151 2,977 2,144 833 1,323 1, 005 318 4,297 3,160 ,137 37 19 I 17 Oct. 3 4,378 : 3,200 1,178 3,021 ! 2,165 856 1,357 1, 035 322 4, 308 3.151 ,157 95 77 IS 1 Includes all national and State banks and all private banks under State supervision. 2 Figures for loans exclude acceptances of other banks and bills of exchange sold with indorsement; for back figures see Tables 33, 31, and 77-80. annual report of Federal Reserve Board for 1927. a Includes overdrafts. 4 Figures for "All banks" and for "Member banks" have been revised to include letters of credit and travelers1 checks sold for cash and outstanding, which were not included in deposits in statements issued prior to October 3, 1928. * Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

56 FEDERAL RESERVE BULLETIN JANUARY, 1929 Table 2.—ALL BANKS IN THE UNITED STATES i—PRINCIPAL RESOURCES AND LIABILITIES ON OCTOBER 3, 1928, AND JUNE 30, 1928, BY STATES [Amounts in thousands of dollars] Loans and investments Deposits, exclusive Rediscounts and Number of reof bank deposits 4 bills payable porting banks Total Loans 2 3 Investments State October October June October June October June October ! June O b c e t r o- June New England: Maine. 437,651 428,161 218,896 209,846 218,755 218,315, 406,424 392, 705 7,912! 9,508 138 140 New Hampshire. 303,219 300,951 149,251 147, 721 153,968 153, 230' 276,364 270,514 1, 759, 5 3,852 123 123 Vermont 252,081 251,131 157,864 156,108 94,217 95, 023! 239,135 236,909 2,766! 3,947 105 105 Massachusetts. -. 4,113,271 4,137, 793 2,800,179 !, 831,8491,313, 09211,305,944; 3,844,359 3, 795, 285 35,260! 70,346 449 446 Rhode Island 537,403 284,399 285,131 249, 290 252, 2721 504,447 504, 728 «13,988' 4,280 36 37 Connecticut 1, 283, 0991, 282,064 743,041 738,557 540,058 543,507! 1,191,017 1,176,926 14, 603 i 20, 530 232 234 Middle Atlantic: New York.. _ 15, 580,395 1i5,, 880,65311, 020, 560 11,148, 5454, 559, 835 4,732,108:14,522,90214,:, 466, 840, 457,191 1,144 1,146 New Jersey 2, 443, 5602,450,198 1,613,939! 1,606, 573 829, 621! 843, 6251 2,248,548 2, 262, 772' 78', 681 i 76,100 568 567 Pennsylvania 5, 734, 4635, 742, 6013,390,747; 3,309, 6012, 343, 716 2,433,000' 4,977,987 4, 949,195! 191, 679! 205, 518, 1, 622 1,628 East North Central: Ohio 2, 686,4532, 684, 5161,982,812! 1,968, 784 703, 641 715,732 2,561,574 2, 551, 8201 68,470' 71, 453! 1,048 Indiana.. 892, 583 890,194 662, 091; 662, 539 230,492; 227, 655; 841, 326! 843> 792 51,138! 48, 4131 1,026 1,028 Illinois-.. 3,882,119 3, 885, 4822,874,770 2,831, 8271,007, 349! 1,053,6551 3,633,096 3,685,817! 65, 269; 89, 324j 1,811 1,816 Michigan.._ 2, 001, 7841, 986,148 1,433,844, 1,424,269 567,940 561,879 1,912,439! 1,890,397; 55, 690! 73, 5591 748 748 Wisconsin 944, 212 938, 502 651, 413J 642, 752 292, 799: 295, 750| 929, 340 926,050! 21,193 20, 280 967 967 West North Central: Minnesota 930,114 926,679 544, 719J 539,018 387,6611 890,117 897,384i 18,165 14, 731 1,120 1,134 Iowa 809, 216 787, 990 686, 884; 670, 403 122, 3321 117, 587' 845,018 827,515, 10,075 5,780 1,316 1,326 Missouri 1,274,928 1,266,972 893, 017 885, 447 381,911' 381,525, 1,186,1341 1,180,050 48, 900 5 61,120! 1, 364 1, 388 North Dakota 126,970; 125, 279 92,924| 91,114| 34,046 34,165! 148, 779 135,5671 1, 778! 1, 762i 486 489 South Dakota 138,031! 131,979 97, 577i 94, 278| 40,454! 37,701! 157,772 150,046: 1,120| l,295j 411 412 Nebraska 413, 351! 399, 619 315, 054! 308, 305; 98, 297i 91, 314| 427, 761! 416, 659! 4, 724' 4, 20l! 898 904 Kansas 419,963 407,106 305, 398! 298, 383; 114, 565 108,723; 441, 735 427,3371 3,641 6, 111! 1,112 1,114 South Atlantic: Delaware.- 157, 713 144, 039 105,864 92,609 51,849 51,430 136, 921 124,454! 1, 4,346 48 48 Maryland 836,061 820,443 503, 768 484, 364 332,2931 336,079 769, 701 763,086 i 13,468 15, 631 238 238 District of Columbia. _. 253,566! 254,495 188, 738 190, 389 64,828 64,1061 256,120 248, 582 j 1,314 4,540 42 42 Virginia 570,2891 562, 738 474,499 467, 581 95,790l 95,157! 469,002 461,588; 33,260 32,160! 494 494 West Virginia 359, 493; 363, 794 291, 161 294,911 68, 332! 332, 595 331,708! 12, 626 15,4311 329 330 North Carolina 420, 541' 416,181 363,965 56, 576 57, 312, 370, 373 367, 245 44,477 34, 850! 444 445 South Carolina _ 188,465! 195,947 143,412 147, 569 45,0531 48,378| 182,204 188,381) 7,877 6,1021 259 262 Georgia 364, 170, 371, 584 299,312 312,789 64,858: 58, 795: 327, 445 326,218: 22, 576 25,170 451 454 Florida _ 346, 562! 357,923 221, 677 235,451: 124,8851 122,472 351,144 369, 364 6,558 4,713 301 302 East South Central: Kentucky 515,2731 . 511,263 400,995 395, 266! 114,278 115,9971 423,080 426,561 21,481 18,347 586 586 Tennessee 411,691! 407,630 347, 263 343,764| 64,428' 63, 866 402, 360 408, 363! 17, 788 8,322 506 507 Alabama 305, 762; 301,651! 245, 560 243,694] 60,202; 57,95' 278, 624 271,1741 24, 012 18, 399! 357 357 Wes M t S is o s u is t s h i p C p e i ntral: 223, 911 i 1 223,68 I 41 174, 576j 172,169j 49, 335 j 51, 515 215,067 215,967 22,320 17,092 326 325 Arkansas 209,408 204, 749! 171,488! 167,6231 37,9201 37,126 203, 351 202, 392i 16, 991 8,615 440 437 Louisiana 425, 072 402, 048; 343,633! 330, 648! 81,4391 71,400 364, 880 371,0421 60,074 36, 368 227 229 Oklahoma 398, 880 395, 219 256,614 255,1111 142,266 140,108 437, 242 425.911J 5,419 6,631 667 668 Texas 1,075,642! 1,032,156'' 825,751; 793,632, 249,891 238, 524 1, 064, 558 1,013,431! 29, 530 13,408 1,365 1,372 Mountain: i Montana 148,681 147,615! 93,932' 94, 536 54,749 53, 079 172, 828 160, 598 362 569 201 202 Idaho _ 80,140 79,015! 48, 842! 48,000 31,298 31,015 91, 722 87,122 530 885 140 140 Wyoming 57, 309 55, 333 I 40.305, 39,011 \ 17,004i 16,322 63, 794 59,941 608 605 86 86 Colorado 273, 657 266,070'! 176, 673 165,824, 96,984 100, 246 295, 276 285, 837 5,867 2,120 284 285 New Mexico 38,123 37, 513 24,908! 23,849' 13, 215 13. 664 41, 351 40,334 589 374 58 58 Arizona 75, 355 75,403! 49,238 51,184, 26,117! 24,219 85, 302 86,147 784 785 46 45 Utah.... 155, 054 152, 349 121, 588l 119,427' 33,466 32,922 134,181 129,245 1,889 2,154 106 105 Nevada.. 38,109 37,734' 29,266, 28, 740; 8,843, 41, 970 40,159 35 35 Pacific: Washington 443, 737 439,803 1 280,144: 275, 843 163,593 163,960 456,744 451,483! 2,287; 4, 354 352 Oregon 266,443 262,197! 149,323 147,571 117,120 114, 626 280,965 273,635| 1.113! 3,968 243 243 California 3, 346, 5883,281,119 I 2,358,286 2,322,639 988, 302 958,480} 3,247,812 3,259,911 88,278; 24,299 494 496 Total 57,186, 847,57. 241,116 ;39, 650,160 39, 454, 113 17, 536, 687 17, 787, 003i53,682, 886 53, 378,1871, 500, 8341, 559, 681 25,784 25,943 1 Includes all National and State banks and all private banks under State supervision. Figures for State institutions are taken from Table 4 and represent in some cases the condition of banks as of dates other than Oct. 3, 1928, and June 30, 1928. 2 Figures for loans exclude acceptances of other banks and bills of exchange sold with indorsement; for back figures see Tables 81-83, annual report of Federal Reserve Board for 1927. 3 Includes overdrafts. * Includes cash letters of credit and travelers' checks of member banks. The June figures of deposits given in this table exceed, in the case of a few States, those given in Tables 3 and 4, chiefly by reason of technical differences between reports to the board and reports to State banking authorities as regards letters of credit, etc. 5 Excess over figures shown in Tables 3 and 4 is chiefly due to technical differences between reports to the board and reports to State banking authorities. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 57 Table 3.—NATIONAL BANKS—PRINCIPAL RESOURCES AND LIABILITIES ON OCTOBER 3,1928, AND JUNE 30, 1928, BY STATES [Amounts in thousands of dollars] Loans and investments I Deposits, exclusive Rediscounts andi Number of re- I of bank deposits 3 bills payable porting banks Total Loans 12 Investments October June October June ! October i June4 October^ June 'October June New England: Maine __. 148,339 144, 773 ! 79, 909 75, 984 68, 430 68, 7891 137, 595 129, 233 1, 926; 4,315 55 New Hampshire _ _ i 72, 553 70,285, 43, 219 41, 689 29, 334: 28, 5961 63, 235, 57, 385 1, 7591 3,804 55 55 Vermont I 69,155 68,206; 40, 545! 39,412 28, 6101 28, 794: 61, 460 58,123 1,075! 2, 321 i 46 46 M assachusetts I 1,166, 4881,200,550, 837,021! 861, 381 329,467! 339,169! 1,071, 909 1,038, 717 16, 766! 51, OOSi 154 152 Khode Island I 55, 481 58,141 i 33, 653! 34, 311 21,828' 23, 830, 43, 807 43, 697 1, 563; 2, 6001 11 13 Connecticut ' 274,448 277,719, 194, 459 194, 510 79, 989' 83,209, 249, 398 245, 329 7, 6381 11,191] 64 Go Middle Atlantic: New York ' 4, 784,9345, 000, 670 3,180,492 3,373, 7211, 604,442: 1, 626,949j 4,284,465! 4, 244,43 195,837| 281,939! 561 562 New Jersey ' 891, 286 872, 631| 569, 792 549, 794 321,4941 322, 837j 827, 997 813,947 30, 669j 30,303! 299 299 Pennsylvania 2, 647,9132, 654,022| 1, 595,006 1, 579, 7451, 052, 907; 1, 074, 277; 2, 270, 644 2, 245,192 79,025 111,965! 868 871 East North Central: I Ohio 734, 473 726,136| 488, 604 477,142 245,869J 248,994! 675, 825 662,187 22, 667 23,746' 329 331 Indiana 364, 422 362,033, 243,397 243,845 121,025! 118,188; 333,943 336,409 7,848 5,123 j 225 227 Illinois 1,639,230 1,596,824 1, 217, 694 1,173,396 421, 536i 423,428' 1, 455, 780 1,456,199 46, 059 54, 310 486 484 Michigan 512,844 508,169, 347, 901 343, 791 164, 943! 164. 378! 491, 709: 483,872 20,403 29, 584i 133 133 Wisconsin 396, 7f • 392,822; 268, 006 262, 054 128, 792| 130, 76S| 370,101 371,408 13,497! 11, 026J 157 157 West North Central: , Minnesota 535,495 524,971, 328,414 317,795 207,081' 207,176! 493, 228 496, 54! 11,969| 6, 099! 279 279 Iowa 283, 427 274,946 187, 564 182,386! 95,8631 92, 5601 271,321' 263,928 4, 232J 1,364 270 270 Missouri ! 518,842' 384, 709 375, 952 139,075i 142, 890! 424, 779 411,611 20,975] 28, 374; 133 134 North Dakota ^336 73, 722: 46, 299 46,636 27,0371 27,086i 82, 612 76,044 809: 783! 134 136 : N So eb ut r h a s D ka a kota j ' 1 6 8 3 7 , , 2 8 4 0 6 1 1 6 8 1 1 , ,9 7 2 8 2 4 , ! 1 3 3 7 2 , , 4 12 5 4 1 1 3 2 6 8 , , 6 7 0 6 9 9 5 2 5 6 , , 1 3 2 5 2 0 * ! 2 5 5 3 , , 1 1 7 5 5 3 ; ! 16 0 8 8 , , 3 93 0 3 8 1 6 6 5 5 , , 4 4 3 1 3 6 3,4 3 4 2 9 0 ! ! 2,3 4 5 2 7 2 : | 1 9 5 6 9 1 9 5 7 8 Kansas : 205, 503 199,840, 135, 617 132, 929 69,886; 66,911! 206,187 203,002 1,847; 2, 2471 249 250 South Atlantic: Delaware i 23, 737 22,657i 12,953 12, 561 10, 784 10,096 20,468 19,100 201! 75l! IS 18 Maryland 243, 319 237,321 j 161, 5851 152,861 81,734; 84,460| 213,478 211, 550 6,436 10,173: 83 84 District of Columbia... 127,580 130,434; 92, 644j 96,275 34, 936! 34,159' 128, 911 124,414 7911 4,095 13 13 Virginia _ _.. 339, 991 332,440! 275, 932 269,014 64, 059! 63, 426! 288,169 280, 752 17,060; 15,960' 166 166 West Virginia._ ' 163, 975 165,410! 325,461 127,198 38, 514! 38,212! 148,113 146,282 4,831I 6,820; 119 119 North Carolina 100,401 162,415] 132,498 132,400 27, 903, 30,015! 135,433 138, 240 16,095! 12, 983' 77 77 S G o e u o t r h g ia Carolina... ; 2 1 1 0 2 3 , , 3 5 8 1 9 8 2 10 2 9 0 , ,5 8 4 8 1 0 1 , 16 7 9 6 , , 0 3 3 1 0 4 1 7 7 8 9 , ,7 5 5 7 1 4 4 2 3 7 , , 2 3 0 5 4 9 1 1 4 3 0 1 , ,30 79 6 01 ; 1 9 9 5 8 , , 3 2 6 0 1 5 1 10 9 2 8 , , 1 7 6 2 8 2 4 8 , , 6 3 5 7 5 7 1 i 1 2 1 , ,9 7 1 6 6 9 , ' 5 8 8 2 8 5 1 8 r" Florida 187, 566 198, 927j 109, 824 123, 598 77, 742; 75, 329j 176, 504 194, 724 4,090! 2,245| 62 East South Central: i Kentucky 257, 380 253, 370 185, 200 179,47l| 72,180, 73,899| 207, 830: 211,311 16, 712! 13, 578! 140 140 Tennessee. 213, 650 209, 589j 174,870 171,371 38, 780' 38,218} 187, 942 193, 945 13,259i 3, 793 102 103 Alabama • 197,547 192,0381 149,290 145, 508! 48, 257j 46, 530! 169,574 170,197 17,429! 10,297! 107 107 Mississippi , 77,432 76, 718! 58, 627 56,418j 18,805'. 20, 300; 69,099 70,240 8,261 6,280; 36 36 West South Central: Arkansas.. . 82,721 79, 821! 59, 880 57,8181 22, 8411 22,003! 75,453 76,640 4,116 1, 6451 79 Louisiana 100,995 95, 425: 84,094 80,229| 16, 9011 15,196| 84,087, 85,268 13, 045: 5,924! 33 33 Oklahoma 329, 920 327, 750, 207, 753 206, 642! 122,1671 121, lOSi 352,451 346,232 4, 266! 4,938 330 333 Texas ! 852, 503 812, 422i 639, 658 609,641; 212,845! 202,7S1 807,755 780,111 25, 944! 8,893; 636 638 Mountain: Montana ; SO. 185 76,1871 50, 997 48, 8811 29,188! 27, 306 91, 558 81, 939 58! 224 70 70 Idaho ' 42,369' 41.416'i 27,417 26, 979; 14, 952. 14, 43 46, 333 43,951 268 i 589, 46 46 Wyoming i 33, 545j 32,303 ! 21, 737| 20, 888 11,808^ 11,415 35,811 34,042 1961 94: 26 26 Colorado 212,944 207,152'| 132, 400 123,743! 80, 544! 83,409 229,107 222, 204 4,463! 1,458, 123 123 New Mexico i 27, 477! 27,200,! 17,741 17, 008j 9, 736, 10,192 29, 600 29, 214 295; 276. 29 29 Arizona 25, 790 26.123 j 15, 768 16,376 10, 022: 9, 74' 28, 645 29, 496 483 i 494' 15, 15 Utah ; 45, 395 45.386:1 31, 082 31,836; 14,313; 13, 550 40, 389 39, 667 587 324; 20 20 Nevada . 16, 534 16,586 i 11,426 11,217, 5,108! 5,369 17,087 16,040 10! 10 Pacific: ' , Washington ' 2(54. 962 265,948 162.073 160, 613: 102, 889! 105, 335 270, 924; 271, 271 723. 2,260 Ill 109 Oregon : 180, 093 176,809 91, HO1 90,156! 88,983 86, 653 186,095 182,583 35, 1,4431 93: 93 California 1, 779, 567 1,751,294 1,234,436! 1.222,295 545,131! 528. 9991,712,768 1,739,870 44, 572, 6, 082 223 222 Total 22, 014, 441 22, 062. 570:14, 903, 67614, 921,173 7,110, 765 7,141, 397:20,100, 386 19. 90S, 2911 707, 581 801,185; 7, ',6 67805, 1 Figures for loans exclude acceptances of other banks and bills of exchange sold with indorsement. 2 Includes overdrafts. 3 Includes letters of credit and travelers' checks sold for cash and outstanding, which were not included in deposits prior to Oct. 3, 1928. * June figures revised to include letters of credit and travelers' checks sold for cash and outstanding. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

58 FEDERAL RESERVE BULLETIN JANUARY, 1929 Table 4.—STATE BANKS i—PRINCIPAL RESOURCES AND LIABILITIES ON OCTOBER 3, 1928, AND JUNE 30, 1928, BY STATES [Amounts in thousands of dollars] Loans and investments Rediscounts Number of State Total Loans 2 Investments D o e f p b o a s n it k s , d e e x p c o lu s s it i s ve a p n a d y a b b il l l e s re b p a o n rt k i s ng I . October June October June i October I June October I June ; October! Juni October; June I New England: ! Maine 289, 312 283,388 138,987 133, 862! 150, 325: 149, 526 268,829 263,472; 5,9 5,193 83 New Hampshire 230, 666 230, 666 106,032 106, 032' 124, 634: 124, 634 213,129! 213,129 68! 68 V M e a r s m sa o c n h t usetts 9 1 4 8 6 2, , 9 7 2 8 6 3' 2,9 1 3 8 7 2 , , 9 2 2 4 5 3 1, 9 1 6 17 3 , ,1 3 5 1 8 9 1, 9 1 7 1 0 6 , , 6 4 9 6 6 8 ! | 98 65 3 , , 6 6 0 2 7 5 ! ! 96 6 6 6, , 2 7 2 7 9 52,7 1 7 7 2 7 , , 4 6 5 7 0 5 : 2,7 1 5 78 6 , , 5 7 6 8 3 6- 18 1, , 6 4 9 9 1 4 19 1 , , 6 3 2 3 6 8 29 59 5 , i 29 5 4 9 Rhode Island 478, 208 479, 262. 250, 746| 250, 820i 227, 462^ 228,442 460, 640i 461,030 6, 775 1, "" 25 24 C onnecticut 008, 651 j 1,004, 345 | 548, 5821 544,047j 460,069 460, 298 941,619, 931,597 6, 965 9,339 168 169 Middle Atlantic: New York 795, 461' 10,879, 983 ;7,840,068 7,774,824 2,955,393 3,105,15>!9 1)0,, 238,437 10,199,042 164,425 175, 25: 583 584 New Jersey 552,2741 1,577, 567 :1,044,147 1,056,779! 508,127 520, 788 1,420,551 1,448,606 48, 012 45, 797 269 268 Pennsylvania 086,550 3,088,579 [1,795,741 1,729,856! 1,290,809 1, 358, 7232,707,3431 2,703,617 112,654 93, 553 754 757 East North Central: Ohio._._ 951,980 958, 380 :1, 494, 2081, 491, 642 457, 772 466, 738 1,885.749, 1,889, 3 45,8033 47, 707 652 717 Indiana 528,161: 528,161 ! 418, 694 418,694 109,467 109, 467 507, 383J 507, 383 43, 290 43, 290 801 801 Illinois 2,242,889 288, 658.1, 657, 0761, 658,431 585,813 630, 227 2,177,316! 2,229,403 19, 210 35, 014 1,325 1,332 Michigan 1,488,940! 14,77,979 1,085, 9431,080,478 402,997 397, 501 1,420,730, 1,406,368 35, 287 43,975 615 615 Wisconsin 547, 414 545, 680.: 383,407 380, 698 164, 007 164, 982 559, 239! 554,642 7,r~" 9,254 810 810 West North Central: Minnesota 394, 619! 401,708 216, 305 221, 223 178,314 180, 485 396, 889! 400,835 6,196 8,632 841 855 Iowa_ 525, 789; 513,044 : 499, 320 488,017 26,469 25, 027 * 573,697| 4 563, 542 5,843 4,416 1,046 1,056 Missouri.._ 751,144! 748,130! 508, 308 509,495 242,836 238, 635 « 761, 3551 4 768, 350 27, 925 18,058 1,231 1,254 ' North Dakota 53, 634' 51,557! 46, 625 44, 478 7,009 7,079 66,167 59, 523 969 979 352 353 South Dakota... __ 74, 230! 70,195 60,126 57,669 14,104 12, 526 89,464, 84, 613 800 873 315 315 . Nebraska 226,105| 217, 697'j 182, 930 179, 536 43,175 38,161 258,828; 251, 243 1, 275 1,844 5 739 5 746 ." Kansas 214, 460 207, 266 i 169, 781 165, 454 44, 679 41,812 « 235, 548! « 224, 335 1,794 3,864 863 864 South Atlantic: Delaware .. 133, 976 121,382: 92,911 80,048 41,065 41,334 116, 453| 105, 336 3,595 30 Maryland 592, 742! 583,122 i 342,183 331, 503 250,559 251,619 556, 223 551,503 7,032 5,458 155 154 District of Columbia- _ _ 125, 986! 124,061 •< 96,094 94,114 29,892 29, 947 127, 209| 124,168 523 445 29 29 Virginia 230,298! 230,298' 198,567 198, 567 31,731 31,731 180,833! 180,833 16, 200 16,200 328 328 Wrest Virginia 195,5181 198,384^ 165,700 167,713 29,818 30,671 184,482J 185,426 7,795 8,611 210 211 North Carolina 260,140l 253,766i 231,467 226,469 28,673 27,297 234,940 229,005 28,382 21, 867 367 368 South Carolina ... 85,0761 86,067; 67, 382 68,995 17,694 17,072 86,843| 85,659 3,222 3,333 201 204 Georgia 151,652, 151,043 129,998 133,038 21,654 18,005 129,240 128,050 14,199 13, 254 369 373 Florida 158,996' 158,9961' 111,853 111,853 47,143 47,143 174,640 174,640 2,468 2,468 239 239 East South Central: Kentucky 257, 893 257,893! 215, 795 215, 795 42.098 42,098 215,2.50 215, 250 4,769 4,769 446 446 Tennessee 198,041 198,041 172,393 172,393 25,648 25, 648 * 214,418 4 214,418 4,529 4,529 404! 404 Alabama 108,215! 109,613 : 96,270 98,186 11,945| 11,427 4 109,050! MOO, 930 6,583 8,102 250! 250 Mississippi 146, 47 146,966,; 115, 949 115, 751 30,530 31, 215 145,968 145, 727 14,059 10,812 290i 289 West South Central: Arkansas 126,687j 124,928:| 111,608 109,805 15,079 15,123 127, 898j 125, 752 12,875 6,970 361 358 Louisiana 324,077! 306,623 i 259, 539 250,419 64,538 56, 204 280, 793j 285, 766 47,029 30, 444 194 196 Oklahoma 68, 960j 67, 469 : 48, 861 48,469 20.099 19, 000 84, 791 [ 79, 679 1,153 1, 337,' 335 Texas 223,139j 219,734,: 186,093 183,991 37,046 35,743 256, 803j 233,320 3, 586 4,515 729i 734 Mountain: Montana 68, 496, 71, 428: i 42, 935 45, 655 25, 561 25, 773; 81, 270 78, 657 304 345 132 Idaho 37, 771 '• 37, 599 ' 21, 425 21, 021 16, 346 16, 578; 45, 389 43,171 262| 296 94 Wyoming 23, 764| 23,030 ! 18, 56S 18,1231 5,196 4,907 27, 983j 25, 899 412! 511 60, 60 C olorado 60, 713! 58, 918 ' 44, 273 42,0811 16, 440 16,8371 66,169 63, 633 1, 404! 662 161 j 162 New Mexico 10, 646! 10, 313 i 7,167 6, 841 3,479 3, 4721 11, Toll 11,120 294| 98 29 29 Arizona 49, 565, 49, 280 ; 33,470 34, 8081 16,095 14, 472'' * 56, 657' * 56, 651 «291 31 30 Utah.. 109, 6591 106, 963 90, 506 87, 5911 19,153 19, 372; 93, 792i 89, 578 1, 302J 1,830 86! Nevada 21, 57oj 21,148 •• 17, 840 17, 523 3,735 3. 625. 24, 883 i 24,119! 251 Pacific: Washington 178, 775; 173, 855 118,071 115, 230 60, 704 58, 625! 185, 820' 180, 212 1,564 2,236 243j 243 Oregon 86, 350 85,388. 58, 213 57,415 28,137 27,973 94,870i 91,052 1,078 2,525 150! 150 California __ ,567,021 1,529, 825 1,123, 8501,100, 344 443,171 429, 4811 1,535,044' 1,519,523 43, 706 18,217 271! 274 Total. 35,172,406|35,178, 546,'24, 746,484 24, 532,940 10, 425,922 10, 645, 606:33, 582, 500 33, 444,7 68573,603! 743,760 18,114; 18, 258 1 Includes all State banks and all private banks under State supervision. Figures relate to dates given or dates nearest thereto for which figures are available. 2 Includes overdrafts; excludes acceptances of other banks and bills of exchange sold with indorsement. 3 Includes bonds borrowed. * Includes due to banks. 5 Exclusive of banks operated by the Guaranty Fund Commission. 6 Includes all other liabilities. NOTE.—All figures in the October columns are as of Oct. 3 except as follows: Maine, Sept. 29; New Hampshire, June 30; Massachusetts, savings banks, June 30; Rhode Island, State banks, Sept. 20, savings banks, June 30; Connecticut, savings banks, June 30; New York, state banks, Sept. 28, savings banks, June 30; Pennsylvania, Oct. 2; Indiana, June 30; Minnesota, Oct. 29; Missouri, Aug. 16; Nebraska, Sept. 20; Kansas, Sept. 15; Maryland, state banks, Sept. 29, savings banks, June 30; Virginia, June 30; Georgia, Oct. 1; Florida, June 30; Kentucky, June 30,1927; Tennessee, Apr. 24; Alabama, Nov. 16; Colorado, Nov. 9; Utah, Sept. 29. All figures in the June columns are as of June 30, except as follows: Minnesota, June 25; Missouri, Apr. 12; Kentucky, June 30, 1927; Tennessee, Apr. 24; Alabama, June 29; Louisiana, July 6; Colorado, July 10. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 59 REVISED FIGURES FOR CONDITION OF REPORTING MEMBER BANKS, 1927, 1928 [See explanation on p. 6] No. 1.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY MONTHS, 1927, 1928 [Monthly averages of weekly figures. In millions of dollars] Loans and investments Loans Investments Reserve Borrow- Month U. S. Fe w d i e th ral C i a n sh de N m e a t nd de T p i o m s e its G m o V e 6 n r t ri~ Federal Total ! On Govern- Other reserve vault deposits deposits reserve Total . securi- All Total ment securi- banks banks ties other securi- ties ties Total: 1927—January... 19,686 ! 14, 538 5,813 8,725 5,148 ! 2,339 2,809 1, 672 284 13, 067 5,854 129 299 February. _ 19,558 • 14,347 5,679 8. 667 5,212 2,374 2, 838 1, 639 265 12, 883 5,888 107 233 March 19,989 I 14,536 , 5, 765 8; 772 5,453 2, 518 2,935 1,665 260 13,034 5,989 231 268 April 20,068 i 14, 564 5, 829 8,735 5,504 2, 565 2,939 1,653 263 13,033 6,021 221 270 Mav 20,273 14,666 5,916 8,750 5,608 2, 637 2,971 1,691 260 13,179 6,113 118 302 June 20, 506 14,849 6,121 8,727 5,658 2,591 3,067 1,744 261 13, 414 6,163 138 268 July 20,404 l 14,781 ' 6,093 8,688 5,623 2,553 3,069 1,690 265 13, 306 6,177 108 272 August 20,357 i 14,825 : 6,102 8,723 5,531 2,502 3,029 1,702 252 13, 276 6,228 52 256 September. 20, 653 15,066 . 6,199 8, 867 5,587 2,546 3,041 1,703 264 13, 340 6, 269 180 267 October. __ 20,918 15,258 6,304 8,954 5, 660- 2, 617 3,043 1,719 265 13,412 6,345 280 283 November. 21,112 15.308 ; 6,392 8,916 5,804 2,710 3,094 1,761 272 13, 703 6,409 147 276 December. 21, 328 15,396 ; 6,576 8,820 5,932 2,820 3,111 1,781 314 13, 872 6,419 99 388 1928—January... 21,493 15,441 6,694 8,748 6,052 2,933 3,119 1,799 270 13,982 6,560 115 314 February. . 21,315 i 15,223 6,489 8,734 6,091 2,991 3,100 1,758 246 13, 673 6,613 45 338 March 21, 502 15,370 : 6,465 8,905 6,133 2,969 3,164 1,726 245 13, 579 6, 689 146 .362 April 21,944 15, 805 6,803 9,001 6,140 2,988 3,152 1,783 244 13,814 6, 762 198 488 May 22,148 15,960 6,951 9,008 6,188 3,016 3,172 1,771 243 13, 760 6,892 61 644 June 22,063 15,871 ' 6,834 9,037 6,193 3,020 3,173 1,740 248 13,450 6,923 103 •796 Julv . 22,006 15,892 : 6,827 9, 065 6,114 2,986 3,129 1, 723 248 13, 246 6,861 113 854 August 21,809 15,825 ! 6,687 9,138 5,984 2,940 3,044 1, 672 241 12,902 6,831 178 806 September- 21,871 15,898 i 6,709 9,190 5,973 2,981 2,991 1,699 248 13,049 6,831 133 822 October. __ 21,938 16,003 , 6,742 9,262 5,934 3,024 2,910 1,707 253 13,216 6,843 126 736 November. 21, 983 16,096 , 6,945 9,151 5,888 2,988 2,900 1,714 264 13, 369 6, 848 73 681 December. 22,189 16, 253 7,057 9,196 5,936 3,013 2,924 1,748 299 13, 399 6,842 117 799 New York City: 1927—January ___ 6, 205 4, 552 2,168 2,384 1,654 848 806 717 62 5,127 918 36 76 February.. 6, 067 4,407 2,047 2,360 1,659 857 803 682 59 4,935 929 30 60 March 6,240 4,508 2,097 2,411 1,732 909 823 710 56 5,068 929 66 73 April. 6, 313 4,556 2,156 2,399 1,758 922 835 688 57 5,066 950 64 78 Mav 6, 423 4,612 2,201 2,411 1,812 968 844 720 58 5,179 956 34 90 June 6, 576 4,747 2, 326 2,422 1.829 943 886 776 57 5, 390 1,010 22 51 July 6,481 4,696 2, 281 2,414 1,785 893 892 728 58 5,265 992 12 59 August 6,453 4,718 2,275 2,442 1, 735 887 848 724 55 5,213 1,010 6 74 September. 6, 575 4,875 2,313 2, 562 1,700 887 813 726 58 5,224 1,004 64 90 October 6, 642 4, 966 2,370 2, 596 1,676 886 790 728 59 5, 255 1,015 103 75 November. 6,775 5,039 2, 465 2,574 1,736 935 801 768 62 5,430 1, 055 43 73 December. 6.906 5,114 2, 605 2,509 1,792 986 807 769 73 5,570 1,034 29 127 1928—January... 7.040 5,180 2,692 2,488 1,860 1,048 813 781 58 5,633 1,099 34 94 February.. 6, 871 4,983 2,509 2,474 1,888 1,089 799 754 52 5,471 1, 093 14 78 March 6, 918 5, 014 2, 429 2,585 1,904 1, 081 823 738 51 5,467 1,080 44 75 April. . . 7,152 5, 303 2, 655 2, 648 1,849 1,056 793 777 51 5,607 1,120 59 145 Mav 7, 282 5, 408 2, 765 2,643 1,874 1,075 799 767 51 5, 566 1,193 18 222 June 7,166 5, 248 2, 588 2, 660 1,918 \ 1,103 814 749 53 5,379 1,210 30 271 Julv 7,170 5, 270 2,601 2, 669 1,900 1,105 795 730 55 5, 273 1,174 32 274 August 6, 962 5,186 2, 493 2,693 1,777 1, 015 762 705 52 5,061 1,161 32 223 September. 7,022 5, 221 2,519 2,703 1,801 1,053 748 716 53 5,092 1,175 32 266 October___ 7,013 5,209 2, 534 2,675 1,803 1,092 711 720 54 5.152 1,206 37 202 November. 7, 056 5, 255 2, 666 2,590 1,800 1, 085 715 721 58 5, 264 1,208 22 157 December . 7,152 5,339 2,715 2,624 1,812 1,091 721 752 67 5,305 1,198 32 221 Other leading cities: j 1927—January... 13,481 9,987 3,645 6,342 3,494 1,490 2,004 954 222 7,940 4,936 93 223 February._ 13,492 i 9,940 3,632 6,307 3,552 1,517 2,035 957 206 7,948 4,959 77 173 March 13,749 >• 10,028 3, 667 6, 361 3,721 1, 609 2,112 955 203 7,966 5,060 165 195 April 13,754 ! 10,008 3,673 6,335 3,746 1,643 2,103 965 206 7,967 5,071 157 192 Mav 13,850 ' 10, 054 3,715 6, 339 3,796 1,669 2,127 970 202 8,000 5,157 84 212 June 13, 930 10,101 3,796 6,305 3,829 1,648 2,181 968 204 8,024 5,153 116 217 July 13, 923 10,086 3,812 6,274 3,838 1, 661 2,177 961 207 8,041 5,185 96 212 August 13, 904 10,107 3,827 6,281 3,796 1, 616 2,181 978 197 8,063 5,218 47 182 September. 14,079 10,191 3,885 6,306 3,887 1,659 2,229 977 206 8,115 5,266 116 176 October 14, 276 10, 292 3, 935 6,358 3,984 1, 730 2, 253 991 206 8,157 5, 330 177 208 November. 14, 337 10. 269 3,928 6,342 4,068 1,775 2,293 993 211 8,272 5,354 105 203 December. 14, 422 10, 282 3,971 6,312 4,140 1,835 2,305 1,012 240 8,301 5,385 70 261 1928—January. __ 14, 452 10, 261 4,001 6,260 4,191 1,885 2,306 1,018 212 8,349 5,460 80 220 February.. 14,443 10, 240 3,980 6, 260 4,203 1,902 2,301 1,004 194 8,202 5, 519 31 260 March 14, 584 10, 356 4,036 6, 320 4,229 1,887 2,341 988 194 8,111 5,609 102 287 April 14,793 10, 502 4,148 6,353 4,291 1,932 2,359 1,006 193 8,207 5,642 139 343 May 14, 865 10, 552 4,186 6,365 4,313 1,941 2,373 1,004 192 8,194 5, 699 43 422 June 14, 897 10, 623 4,246 6,377 4,275 1,917 2,358 991 196 8,071 5,713 74 525 Julv 14, 837 10, 622 4,227 6,396 4,214 1,881 2,334 993 194 7,973 5,687 80 580 August 14, 846 10, 639 4,194 6,445 4,207 1,925 2,283 967 189 7,840 5, 670 146 583 September. 14, 849 10, 677 4,190 6,487 4,172 1,929 2,244 984 195 7,957 5, 656 101 556 October. __ 14, 925 10, 794 4,207 6, 587 4,131 1,932 2,199 987 199 8,064 5, 636 89 534 November. 14,928 10, 840 4,279 6,561 4,087 1,902 2,185 993 205 8,105 5,640 51 524 December. 15, 037 10,913 4,341 6, 572 4,124 1,921 2,202 996 232 8,094 5,644 85 578 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

60 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927, 1928 [In thousands of dollars] Loans and investments Bor- Loans Investments Reserve i Gov- rowwith Cash Net ings at Date United F re e s d e e r r v a e l va in ult d de e p m o a s n it d s de T p i o m s e its F a e l d r e e- r- Total Total secu O ri n ties All other Total G S m o t v a e t e n e r t n s - se O cu th ri e t r ie - s banks ! posits b s a er n v k e s securities Total 1927 Jan.5__. 19, 864, 749 14,750,446 5,984,002 8,766,444 5,114,303 2,308,639 2,805,664 1,744,015; 306,422 13, 209, 746 5,845,045!155,853 445,510 Jan.12__ 19, 753, 759 14,587,588 5,830,759 8, 756, 829 5,166,171M 2,329,603 2,836,568 1,676,703' 294, 806 13,175,468 5,863,767119,595 305,249 Jan.19._ 19, 586,179 14,441,591 5, 738,848 8, 702,743 5,144,588, 2,349,773 2,794,815 1,666,095 269, 700 13, 015,427 5, 848, 216! 119, 527 247, 747 Jan.26._ 19, 540, 956 14,373,941 5, 698, 710 8,675, 231 5,167,015 2,366,192 2, 800, 8231 1,600, 246;266, 564 12, 866, 665 5, 857, 8871119, 588 196, 704 i ! Feb. 2... 19, 591, 795 14,410, 535' 5, 747,910 8,662, 62515,181,260' 2,361,836 2,819,424, 1,646,297 256, 884!12, 957, 949 5, 860, 006 119, 734 222, 398 Feb. 9___ 19, 527, 756 14,333,338 5, 656, 720 8, 676, 618 5,194,418! 2,370,320 2,824,0981 1,630,223' 269, 578J12, 844,458 5,874,996,101,787 223,390 Feb. 16._ 19, 537, 581 14, 309, 258 5, 650, 051 8, 659, 207 5,228,323 1 2,382,909 2,845,414! 1,695,322 252, 766| 12, 924, 086 5,882,373,101,790 242,429 Feb. 23__ 19, 575,849 14,333,813, 5, 663,172 8, 670,641 5, 242, 036 I 2, 379,697 2,862,339! 1,582,618 281,139112, 804,348 5,936,297:103,569 242,979 Mar. 2.__. 19, 779, 203 14,489,091 5, 756, 286 8, 732, 8O01 5, 290,112 ! 2,396, 2372, 893,875 \ 1,635,555' 254,516 12,965,229 5, 994, 502*103, 469 278, 825 Mar. 9—. 19, 774, 770 14, 476,842 5, 715,102 8, 761, 740' 5, 297,928!' 2,393,793 2,904,135; 1,629,323: 268, 202J 12,923,190 6,007,748' 91,831266,137 Mar. 16... 20,170,892 14, 584,356 5, 785, 554 8, 798, 802 5, 586, 536! I 2,657,994 2,928,542; 1,675,820 252,146 13,224,162 5, 977, 414 343, 771!189, 568 Mar. 23._ 20,115, 692 14, 567, 287 5, 758,1321 8,809,155 5, 548,405'i 2,587,764 2,960,641! 1,705,664 260,006 13, 061, 5335, 978, 252 312, 924 309, 239 Mar. 30... 20,105,165 14, 564, 752; 5, 807, 678! 8, 757, 074 5,540, 413|| 2,555,""" 2,985,314; 1,679,883 262,87r 12, 996,1485, 986,870 302, 861'296. 47s 1 ! A A A A p p p p r r r r . . . . 2 1 2 6 7 3 0 - . . . . . 2 2 2 2 0 0 0 0 , , , , 1 1 0 0 1 0 1 3 3 5 6 5 , , , , 0 4 6 6 5 7 7 2 0 5 7 9 1 1 1 1 4 4 4 4 , , , , 6 5 5 5 0 2 5 6 7 5 6 4 , , , , 3 3 9 3 6 6 8 6 4 3 5 7 ! ; 1 1 5 5 5 5 , , , 7 8 8 ,8 1 8 7 3 7 9 6 1 , , , 0 9 7 ,0 9 9 6 1 4 2 4 4 ! 8 8 8 8 , , , 7 6 7 ,7 6 8 0 7 6 7 8 6 , , , 3 5 8 ,3 7 9 9 5 5 9 1J 0 ! ! ! 5 "5 5 5 , , , 4 5 4 , '" 5 7 4 8 0 9 2 9 6 , , , 2 1 0 , 6 1 6 3 2 2 5 1 , 3 |! ' | | ! ~ 2 2 2 2 , , , 5 5 , 5 4 9 5 5 6 4 6 4 , , 5 , 5 8 1 , 6 8 1 7 6 3 0 9 ' ' ! 8 ~ i 2 2 2 , , , 2 ~ 9 9 9 , 3 4 "3 9 ' 2 7 4 4 , , , 0 ~ 6 2 9 , 9 2 5 5 6 9 5 1 , : 5 " ; 1 1 1 , , , 1 6 6 6 , 7 6 4 6 2 9 6 2 , , , 3 9 9 3 , 9 6 7 8 3 4 4 7 ; 3 2 2 2 6 6 5 2 8 3 8 0 , , , 1 5 1 9 , 2 2 6 9 7 3 1 12 1 1 1 1 3 3 3 3 , , , , 0 0 0 0 2 3 4 3 1 4 8 0 , , , , 4 0 1 2 4 8 0 3 1 3 8 4 6 6 6 5 , , , , 0 9 0 0 6 9 1 1 7 2 5 1 , , , , 4 0 3 0 9 3 7 2 7 8 7 0 , 1 2 2 1 6 8 6 7 6 1 0 6 , , , , 0 1 1 8 8 6 7 2 3 7 9 0 2 2 2 2 8 8 5 6 1 0 6 2 , , , , 0 4 7 9 3 8 8 5 7 8 3 9 May 4... 20, 244,957 14, 695,435 I 5,942,975 8,752,460! 5,549,522' 2,610,121 2, 939,4011 1,717,607 260,042 13,147,257 6, 080, 717156,086 355, 513 May 11.. 20, 234,082| 14,659,037.' 5,880,376 8, 778, 661i 5,575,0451' 2, 639, 0411 2,936,004: 1,669,077 265, 276' 13,185,270 6,102, 227,129, 4731287,707 May 18.. 20, 316,493! 14,669,410! 5,938,361 8,731,049'; 5,647,083,; 2, 658, 728j 2, 988, 355! 1,695,210 256,908! 13,203,444 6,143,130' 94,650;304, 808 May 25.. 20,298,355 14,638,782 j 5,902,157 8,736,625| 5,659,573! 2,639,949 3,019,624! 1,681,113 258,973 13,180,084 6,127, 556 90, 619 259, 677 June 1... 20, 432, 299ii 14,838,151: j 6,105,384 8,732, 7671 5, 594,148 2,532,775 3,061,373; 1,719,697 258,773 13,407,294 6,134,305 73, 537328, 821 June 8.. 20, 364, 76GU 14,791,618 6,080,227; 8,711,39l! 5,573,148 2,537,712; 3,035,436; 1,730,015 268, 036j 13,336,296 6,174,3931 44,283.240,546 June 15_ 20, 642,163!I 14,852,890 I 6,130,880j 8, 722,010 5, 789, 273 2,713,446 3,075,827j 1,810,371: 254,022 13,714,650 6,151,475 209,100197,828 June 22_ 20, 503,123!14,828,699,| 6,111,118! 8,717, 581 j 5,674,4242, 598,728| 3,075,096: 1,712,053. 256,660, 13,242,977 6,166,081200,306 269,325 June 29. 20, 589,454 14,931,374,1 6,179,7 8,751,598, 5, 658,080!i 2,570,440 3,087, 640J 1,745,598: 268,858! 13,369,239 6,191,130.162,021305,915 July 6... 20, 584, 000 14, 924, 696 i6,192,998 8,731,698; 5,659,3041, 2, 560, 884j 3,098,420' 1,686,420 276,001 13,387,133 6,181, 342132, 256 342,184 July 13.. 20, 369, 727 14, 741, 741 i6, 053, 6888,688,053! 5,627,986-. 2,552,209, 3,075,777! 1,703,880 271,068 13,345,543 6.167, 807,107,183 264, 755 July 20_ _ 20, 331, 734 14,733,539'6, 050, 4228,683,117| 5,598,195!: 2,550,903j 3,047,292: 1,698,943 253,674 13,264,457 6.168, 787| 95,452 246,442 July 27.. 20, 330, 680 14, 725, 926j6, 076, 7838,649,143; 5, 604, 754| j 2,549,038! 3,055,716, 1,671,138; 258,1501 13,225,204 6,190, 744i 95, 518 233, 310 i i Aug. 3__. 20,345, 674 14,794,075!|6,113, 5498,680,526 5,551,599H 2,516,240! 3,035,359: 1,739,536 251,663 13,278,258 6, 210, 0111 88, 232 285, 044 Aug. 10. _ 20, 383,868 14,835,167|j6,102, 8548,732,313! 5,548,701 2,510,256!, 3,038,445! 1,707,953; 257,296 13,331,859 6,231, 264 52,750 260, 644 Aug. 17__ 20,347,002 14,830,718;;6,106, 766 5, 723, 952! 5, 516,284|| 2,493,6171 3,022,667 1,662,492; 247,8001 13,270,236 6,228,624 40,399 236,043 Aug. 24.. 20, 270,676 14,762,506, 6, 057, 8948,704,612 5,508,170 2,492,1711 3,015,999 1,708,003; 253,140J 13,153,213 6,230,851 40,377 257, 353 Aug. 31._ 20,435, 508 14,903,052' 6,129, 6088,773,444; 5,532,456 2,499,875 3,032,581 1,691,297: 251,925 13,346,357 6,240,761 40,311240,376 Sept. 7.._. 1 20,426,156 14,902,320,' 6,109,275 8,793,045 5,523,836 2,485,011 3,038,825 1,699,070 268,187 13,326,433 6,247,592i 8,490 295, 354 Sept. 14_. ! 20,613,746 15,071,451 •! 6,215,6598,855,792) 5,542,295 2,494,888! 3,047,407' 1,698,843' 270,127 13,553,745 6,263,540; 8,162 224,164 Sept. 21__ ! 20,760,989 15,121,357'; 6,201,357 8,920,000 5,639,632 2,596,214| 3,043,418 1,698,907? 258,562, 13,233,118 6, 268,192:351,753i269, 716 Sept. 28... ! 20,811,962 15,168,894:1 6,268,446 8,900,448] 5,643,068 2,607,285 3,035,783 1,716,902 259,092 13,244,880 6, 298, 524;352,250,277, 781 Oct. 5.. 20,951,924 15,302,236,! 6,358,075 8,944,161; 5,649,688 2,609,629 3,040,059! l,706,755! 262,467 13,407,415 6, 335,121336, 287(319, 507 Oct. 12. 20,912,378 15, 251,404, j 6,275,6988,975,706! 5,660,974 2,616,923! 3,044,051 1,698,834' 266,805, 13,400,964 6,353, 800337, 232286,452 Oct. 19_ .; 20,936,126 15,261,749! 6,281,914 8,979,835i 5,674,377 2,626,919 3,047,458 1,748,229! 263,322! 13,444,235 6, 346, 7061252,093 270, 936 Oct. 26_ .[ 20,871,263 15,217,503! 6,301,759 8,915,7441 5,653,760 2,613,954 3,039,806i 1,723,663: 265,729 13,395,787 6, 342, 794 193, 692(254, 452 |l Nov. 2___. J 20,885,676 15,233,257.1 6,318,294 8, 914,963j 5,652,419 2,589,979 3,062,440; 1,727,496; 257,439 13,473,229 6,334,073 178,505i232,011 Nov. 9.... .1 20,963, 272j 15,287,912,1 6,322,499 8,965,413, 5,675,360 2,584, 536| 3,090,824, 1,750,405' 286,173: 13,547,826 6, 391, 477! 120,034'310, 438 Nov. 16— J 21, 203,837j 15, 323, 566'! 6,427,770 8,895,796 5,880,271 2,778,932i 3,101,3391 1,819,248; 262,371, 13,778,758 6,410,348 315,296i232,568 Nov. 23... .! 21,207,6011 15, 309,065 !i 6,407,255 8,901,810 5,898,536 2, 796, 702J 3,101,834: 1, 753, 380! 279, 20li 13,743,052 6,453,593110,973!274,081 Nov. 30... -J 21,298,148 15, 386,296 i 6,485,101 8,901,195 5,911,852 2, 799, 686, 3,112,166 1, 754, 806; 275, 701 13,970,475 6,457, 869 11,133 330, 525 Dec. 7__ 21, 249, 674 I 15, 349, 683 \ 6, 480,156 8,869,527 5,899,991 2,803,405? 3,096,586 1,763,089 288,393! 13,919,372 6, 400, 527 5, 594 304, 394 Dec. 14.. 21,266,834 15, 352, 666' j 6,521,380 8,831,286 5,914,168! 2,811,257 3,102,911 1,780,099 313,074'; 14,000,301 6, 399,194 6, 700,353, 308 Dec. 21.. 21,386,774! 15,407,676| 6,604,703 8,802,973i 5,979,098|| 2, 865, 571' 3,113, 527i 1,773,976 338,010' 13,809,097 6,432, 080 191, 770,432, 061 Dec. 28 1 21,409,352' '15, 475, 639 ! 6,698,358 8,777,281! 5,933,713) 2,801,524: 3,132,189: 1,808,164' 315,886! 13,757,274 6, 443, 589J192, 020i463,112 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

61 JANUARY, 1929 FEDERAL RESERVE BULLETIN No.2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars] Loans and investments I Bor- Loans Investments Reserve Gov- I row- Date United ! F re e w s d e i e t r h r v a e l v C a i a n u s l h t d d e e N p m o e a s t n it d s de T p i o m s e its m e d r e e n n - - t i I | F a in l e g d r s e e - a r- t Total Total I 'j ; sec O ur n ities All other j Total G S m o t v a e e t n e r t s n - i : ; se O cu th ri e ti r es banks posits .b s a e n rv k e s securities Total 1928 Jan.4 21, 628, 875 15, 674, 024' 6, 905,135 8, 768,889 5,95.4,851! 2,823,770; 3,131,081 1,845,875! 294,040 14,176, 471 6, 537, 771164,169 392,293 Jan. 11 21, 548, 405 15,487,251 6,688, 626 8, 798, 625 6-, 061,154 2,922, 8711 3,138,283 1,825,877! 281,883 14, 077,442 6, 553, 734124,036 313, 302 Jan. 18._.. 21,446, 694 15,372,173 6, 624, 798 8, 747, 375 6, 074, 521 2, 964, 577' 3,109, 944 1,798,168: 254, r 13,923,595 6, 560,193 89,272 290,635 Jan. 25 21, 347, 563 15, 232,054| 6, 555, 806 8, 676, 248 6,115, 509 3,020,566 3,094,943! 1,727,91l| 248,000 13, 749,449 6, 587, 329 80, 766 260, 602 Feb.*?-.... 21,419,405! 15, 316, 014 ! 6, 651, 8118, 664, 203 6,103, 39111 3,018,477 3,084,914 1,777,362; 238,319 13,855,194 6, 594,189 76, 752 298, 648 Feb. 8 21, 333, 076| 15, 247,436 j 6, 516, 627 88 , 773300 , 880099 6, 085, 640- 3, 010, 200,3, 075, 440 1,772,868, 251," 13, 654, 529 6, 625, 984 42, 790 339,340 Feb. 15.... 21,291,997; 15, 207, 567 6, 448, 514 8, 759,053 6,084,430 2" ,9'•9"7-, 8"9 4•:' 3,086, 536 1, 754,908; 254,445 13, 691, 555 6, 620, 6531 34, 770 360, 418 Feb. 21.... 21, 200,165' 15,124, 673 ! 6, 392, 962 8, 731, 7116, 075,492 2, 984, 57513, 090, 917 i1,736,714,' 245,439 13, 470, 215 6,605,719 34,761335,618 Feb. 29.... 21, 327,863, 15,221,251!! 6,437,098', 8,784,153 6,106,612j 2,945,432' 3,161,180! 1,749,221| 242,484 13,692,594' 6, 617, 401 34, 4151355,475 i r M M M M a a a a r r r r . . . . 7 1 2 2 4 1 8 . 2 2 2 2 1 1 1 1 , , , , 3 4 6 5 0 5 5 9 8 4 1 4 , , , , 6 4 2 8 2 4 7 3 7 1 6 4 1 ; ' 1 1 1 1 1 5 5 5 5 , , , , 4 4 3 2 0 9 3 4 6 0 0 9 , , , 7 , 8 9 7 0 3 0 9 0 8 1 6 1 ' ! , I i i6 6 6 6 , , , , 4 3 5 4 9 8 5 2 3 8 4 3 , , , , 0 5 3 5 8 6 5 5 9 3 3 6 1 | ! 8 8 8 8 , , , , 8 9 9 9 4 1 3 2 2 3 6 6 , , , , 6 2 4 3 1 3 7 5 1 3 8 2 6 6 6 6 , , , , 1 0 2 0 6 8 0 7 0 7 4 7 , , , , 4 7 8 9 4 4 2 3 0 6 6 l ! ' ! ! ' 3 2 2 2 , , , , 9 0 9 9 2 2 8 3 9 4 4 5 , , , , 1 8 6 7 3 0 4 4 9 6 0 5 . 3 3 3 3 , , , , 1 1 1 1 7 6 7 4 4 3 5 3 , , , , 1 0 6 8 2 8 0 0 0 6 0 7 ! ! | j 1 1 1 1, , , , 7 7 7 7 0 3 3 2 1 6 7 9 , , , , 4 7 5 5 2 8 6 7 7 5 6 2 1 ! 2 2 2 2 4 4 4 4 8 2 2 7 , , , , 1 0 4 5 2 7 2 6 5 3 4 0 1 ; 1 1 1 1 3 3 3 3 , , , , 4 4 6 7 9 1 3 7 8 1 3 0 , , , , 6 8 4 0 2 3 6 8 2 3 6 l| : 6 6 6 6 , , , , 7 6 6 7 4 6 1 3 2 2 2 8 , , , , 0 1 5 9 7 3 9 3 8 7 5 9 2 "2~ 8 8 1 1 01 1 0 0 ,^ , , , 7 4 3 3 9 4 4 4 3 6 3 2 ! 3 3 3 3 8 5 5 5 2 3 9 1 , , , , 8 2 8 8 0 0 5 9 0 1 4 5 Apr. 4... 21,972, 330 15, 831,218ij 6,832,098' 8,999,120 6,141,112! 2,971,529' 734 273,178 467, 660 Apr. 11.. 21,930, 036 15,808,063:! 6,754,054! 9,054,009 6,121,973, 2,980,0311 148', 2651234,825 469,654 Apr. 18.. 21,957, 798: 15,808,318!i 6,799,4451 9,008,873 6,149,480! 3,001,052 .,___,.__. _,.„,__„ _„, _ ,__.,„„_ ... 765, 5221168, 506 469,465 Apr. 25.. 21,917,809 15,770,930!! 6,827,860 8,943,070 6,146, 879 j 2,998,961;3,147,918! 1,797,106; 242,0871 13,707,307: 6,803,344 117,100 545,007 May 2,.. 22,162, 352^ 15,996,589- 6,968,275! 9,028,3141 6,165,763!] 3,020,953! 3,144,8io! 1,809,297! 239,8651 13,910,244 6, 834, 533 108, 692 5S4, 748 May 9... 22,121, 625 15,947,2741, 6, 924,159i 9,023,115 6,174,351!| 3,022,403 3,151,948; 1,7977!,484: 248,308; 13,807,720' 6,887,362) 72,055 607,956 May 16.. 22,171, 394 15, 990,133 6, .981, 511 j 9, 008, 622 6,181,261i I 3,014,024; 3,167,2371 1,754', 076; 234,999! 13,839^835 6,898,477 49, 959 629, 284 May 23.. 22,123, 945 15,911,242]! 6,910, 682! 9,000,560 6,212,703'! 3,028,849 3,183,854! 1,752,454' 244,988! 13,644,395 6,911,336 37, 790 658, 824 May 29.. 22,159, 703 15, 954,129 | 6, 972, 645: 8, 981, 4846,205,5741 2,993,667: 3,211,907j 1,741,669 245,558 13,597,832 0,929,598 37, 073 737, 475 June 6... 22,084, 845 15, 910,187); 6, 923, 618« 8, 986, 569 6,174, 65813,010,351 3,164,307! 1, 755, 835 246, 752! 13, 625, 239:6, 917, 389 14773, 454 June 13.. 22,115, 377 15, 933, 302! i 6,869,002! 9,064,300 6,182,075 3, 011, 294:3,170,781 1,758,476| 254,183! 13,680,863 6,927,623 '834,445 June 20 _. 22, 048,994 15,833,669- 6,783,222, 9,050,447' 6,215,325' 3, 045, 096! 3,170,229! 1,714,289. 243, 307j 13,290,096' 6, 915, 634 210, 935 773, 776 June 27_. 22, 004, 609; 15, 806, 053!! 6, 759, 718, 9, 046, 335 6,198, 556 3, 013, 78913,184,767 l,731,644j 249,1211 13,203,6611 6, 930, 042 202, 683 803, 218 July 3... 22,313, 601 16,143,157!| 7, 022, 675| 9,120,482 6,170,444! 3, 006, 53813,163,906 1,780,1051 249, 873j 13,534,382!6, 904,126 162, 535 959, 673 July ll_. 22, 031, 680 15,891,882., 6, 874, 671j 9, 017, 21ll 6,139, 798 3,005, 036 3,134, 762j 1,741,079! 260,561) 13,297,409 6, 886,4171122, 396 869, 584 July 18. _ 21, 890,173 15,796,382!! 6,725,501: 9,070,881 6,093,791! 2, 980, 031' 3,113,760 1,686,961 243,396] 13,146, 328: 6,830,490! 93, 410 787, 412 July 25.. 21, 790,409 15,736,857;! 6, 686, 9321 9, 049, 925 6, 053, 5522, 951, 877.3,101, 675 1, 682, 535 239,865J 13, 000, 641;6,824,201 71,692 798,532 i Aug. 1... J 22,029,609 15,916,607': 6, 824, 743i 9, 091, 864 6,113,002 3,036,400: 3, 076, 602 1, 731, 426' 234,16L 13,145, 23316, 840, 359 244, 690 853,966 Aug. 8... _; 21,845,717, 15,862, 983 >\6, 731, 210; 9,131, 773 5, 982, 734; 2, 935, 273;3,047,461 1,650,441: 243,224' 12,838,463, 6,823,774 194,016 827,297 Aug. 15.. J 21,764,902! 15,796,941''; 6, 651, 749 9,145,192 5,967,961 2,918,916. 3,049,045 1,664,586 235,631 12,909,752 6, 831, 013! 184, 787 764, 946 Aug. 22._ .. 21,686,448 15,756,188ii 6, 616, 260 9,139, 928! 5, 930, 260!2, 904,118; 3,026,142! 1,660,908; 244,748 12,785,397 6, 823,430! 148,179 797,691 Aug. 29._ J 21,716,161;! 15,790,682! 6, 610, 528,9, 180, 154j 5,925,479: 2, 903, 470!3,022,009| 1,653,541 215,548 12,828,910 6,838,711117,866 786,566 Sept. 5... J 21,833, 454 j 15, 905, 971 |l6, 729, 075'9,176,896; 5,927,483'• 2,920,592' 3,006,89l' 1,659,158! 247,418 13,019,245' 6,827,544,1 94,254 825,197 Sept. 12. _ 21,787,341; 15, 879, 010 6, 683, 463; i, 195, 5475,908, 3311 j2,922,138; 2,986,193' 1,722,496; 252,746 13,150,970'. 6,817,1801 66,940 824,986 Sept. 19. _ 21,979,987 15, 940, 530; 6, 743, 313'9,197, 217 6,039,457; 3,055, 599: 2,983,858 1,730,459: 245,329 13,045,396 6, 831, 35l|206, 560 861,314 Sept. 26_. J 21,883,838'i 15, 868, 234 6, 679, 697.9,188,537 6,015,604:: 3,026,852: 2,988,752' 1, 685,191j 247, 537 12,980,587 6, 849,1561:165, 079,778, 275 Oct. 3_._ 21, 925, 727 I 16,011,327 6,732,629! 9, 278,698! 5,914,400!: 2,987,158: 2,927,242! 1, 708, 365! 248,237. 13,182,226! 6, 823, 667! 98, 583 800, 525 Oct. 10.. 21,837,829! 15,966,930 6,674, 518: 9,292,412| 5,870,899,1 2,974,510' 2,896,389' 1,681,804! 266,793 13,157,930i 6,832, 938J 64, 934 770,121 Oct. 17.. 21,972,027!! 15,989,238 6, 723, 943! 9, 265, 295 5,982,789! 3,076,240; 2,906,549; 1,717,087! 247,790, 13, 251,6961 6, 847, 5241190,4311720,010 Oct. 24.. 21,924,419! 15,971,657; 6,750,401! 9,221,256| 5, 952, 762: j 3, 054, 524' 2, 898, 238' 1, 689, 336; 252, 142 13,164, 70116,844,8751141, 523 688,174 Oct. 31.. 22,028,231;! 16,077,412; 0, 826, 333; 9, 251, 079;5, 950, 819' | 3,027,073J 2, 923, 746j 1,738,386; 248, 532j 13, 325, 398j6, 865, 007 134, 733 i ,702, 518 Nov. 7... 21, 991, OSS1; 16,096,022' 6, 894, 314' 9, 201, 708 5,895,063'i 3,008,861' 2,886,202; 1,699,123! 269,167^ 13,304,879J 6,845,743 91, 767 736, 268 Nov. 14.. 21,874, 6141! 15,989,612; 6,809,958! 9,179,654 5,885,002,! 2,993,004! 2,891,998! l,715,02l! 265,312, 13,366,529, 6,851,636 72, 504641, 240 Nov. 21.. 21, 973, 309: j 16,097,183 6,967, 224, 9,129,959j 5,876,126i 2,971,794! 2,904,332! 1, 716,512| 252, 536; 13,396,48716. 848, 568j 72, 816 584, 566 Nov. 28., 22, 094,020! j 16,199,706; 7,108, 563! 9, 091,143 5, 894, 314ji 2,976,927! 2.917,387! 1,725,183 268,018] 13,407,761 6,846,101; 54, 333 761, 996 ! i Dec. 5... 22,190,0191 16,291,164! 7,141,155! 9,150, 009J 5,898,855' 2, 977, 747| 2,921,108 1,721,512 269,030' 13,510,913! 6,830,674 18,398 785,498 Dec. 12.. 22,068,142-: I 16, 187,896 7, 008, 617i 9,179, 279i5,880,246; 2,961,487! 2,918,759, 1,783,450! 288', 546;13,497,680: 6,827,042 3, 631'792,737 Dec. 19. _ • 22,232,592 16,247,529 6,987,557| 9,259,972 5,985, 063;! 3,059,362! 2.925,70l| 1,709,287! 312,852 13,322, 030i 6, 845, 239j249,179 700,171 Dec. 26.. 22, 264, 064 16, 284,138: 7, 088, 877= 9,195, 261 5, 979, 926 l 3, 051, 408i 2,928, 518' 1, 775,824| 326, 324,13, 265,880' 6,863, 654197,895 918,123 26516—29- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

62 FEDERAL RESERVE BULLETIN JANUARY, 1929 NO. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars] Loans and investments Borrow- Loans Investments Reserve! Gov- ings Date Total se O cu n r s i e t - ies ot A h l e l r Total G U S o n t v a i e t t e e r s d n - i I se O cu th ri e ti r es F s a b w e e l a d i r r n t v e e h k e r - - C v a a s u h l t in d N m e e p a t o n s d d i e ts - de T p i o m s e its p m e o d r e s e n n i - t - t s F s a b e e l a a r d n r t v e e k e r - ment securities New York City 1927 Jan. 5_ 6, 358, 570 4,714,469 2,307,080 2,407,389 1, 644,101 854,055 790,046 775,837i 67,130 5, 274, 855 921,757 43,356130,450 Jan. 12__ 6, 256,200 4, 585, 689 2,189, 0782, 396, 611 1, 670, 511 842, 693 827, 818 722, 509! 64,460 5,191,145 922, 559 33,518! 88,838 Jan.19.. 6,116, 619 4,471,940 2,102,247 2,369, 693 1,644, 679 843,800 800,879 712, 280 58, 782 5, 066, 949 911,633 33,518! 56,018 Jan.26_- 6,090,066 4, 434,419 2,073,031 2, 361,388 1,655, 647 852,128 803, 519 658,613 59,142 4, 976, 284 914,482 33,518: 28,269 Feb. 2... 6,143, 217 4,481, 410 2,113, 3402, 368,070 1, 661,807 854, 353 807,454 667, 348; 57,052 5,031, 796 925,687 33,518! 44,540 Feb. 9— 6,047, 945 4, 390, 844 2,014,942 2,375,902 1, 657,101 854, 603 802, 498 686,106: 60,467 4,929,816 927,171 28, 791 70, 232 Feb. 16- 6, 030, 541 4, 377, 315 2,025, 6752, 351, 640 1, 653, 226 855, 525 797, 701 715,936j 56,182 4,920,464 934,590 28,791 70,900 Feb. 23.. 6,044, 505 4,379,076 2, 035, 5402,343, 536 1,665,429 861, 540' 803, 889 658, 714 60, 854 4, 857,947 930, 54728, 791 53,954 Mar. 2... 6,169, 667i 4,492, 539 2, 096,137 2, 396,402 1, 677,128 864, 217 812, 911 672, 238 55, 541 5, 018,921 915,464 28,793 73,826 Mar. 9__ 6,135, 645 4,458, 338 2,061, 0692, 397,269 1,677,307 871,871 805,436 680, 559 57, 729 4,982,435 919,983 25,642 81, 590 Mar. 16.. 6, 308, 717 4, 508, 6512, 095,292 2,413, 359 1, 800, 066 811,612 689,905 53,964 5,128,805 939,832 100,153 20, 311 Mar. 23_ 6, 299, 916 4, 541,868 2,087,432 2,454,436 1, 758,048 916,846 841,202 751,479 56,454 5,101,837 927, 688 90', 138 106,081 Mar. 30- 6, 286, 560 4, 539, 9302,145,966 2, 393,964 1, 746, 630 904,099 842, 531 755,084 58, 615 5,109,408 942, 547 87, 208 83,780 Apr. 6-_. 6, 346, 296 4, 596, 565 2,188, 5222,408, 043 1, 749, 731 914, 205 835, 526 643,413 57.471 5, 059, 5941 936, 201 81, 367 71,848 Apr. 13- 6, 271,928 4,526,312 2,113, 6572.412, 655 1,745,616 914,393 831,223 725, 347 57,913 5,035,736! 960,211 74, 9"7"9 107,144 Apr. 20- 6, 301, 548 4. 542,801 2,146, 5492, 396, 252 1, 758, 747 914, 830 843, 91 674, 650 55.472 5, 062, 450i 954,138.50,764 57, 816 Apr. 27- 6, 333,888 4,556,437 2,175, 7582, 380, 679 1,777,451 946, 319 831,132 708,476 58, 554 5,106, 5431 949, 629 47, 863 77,027 May 4— 6,433,122 4,646,227 2, 244,191 2,402,036 1, 786,895' 956,931 829,964 741, 388 58,243 5,171, 922; 951,033 44,810 125,859 May 11- 6,406,148 4, 599,151 2,176,405 2,422, 746 1, 806, 997! 979,098 827, 899 708,197 58,993 5,154,341! 949,614 37,427 1103, 724 May 18- 6, 434, 689 4,607,333 2,203, 3792,403,954 1, 827,3561 972,093 855, 263 729, 5281 56,414! 5,196,938! 967,688 27, 760 77,850 May 25- 6,419, 570 4, 593, 557 2,178, 2522,415, 305 1,826,013^ 964,120 861,893 701, 906; 58,424 5,193,1661 26,370 53, 234 June 1... 6, 578, Oil' 4, 788, 660 2, 355, 9332, 432, 727 1,789, 351! 920, 808 868, 543 757, 996' 56, 4985,414, 640; 970,813 21, 357 83,670 June 8... 6, 527, 528 4, 695, 2842, 274, 2642,421,020 1, 832, 244 960,863 871, 381 761, 364J 59,156 5,292,156 1,040,349 12, 805 52, 213 June 15_. 6, 637, 646 4,717, 962 2, 304, 6142.413, 348 1, 919, 684, 1, 018, 227 901, 45r 814, 989! 54, 515 5,535,228: 1,010,197 29,161 24, 533 June 22.. 6, 546, 280 4, 737, 4232, 322, 5182,414,905 1, 808,857 916, 770 892, 087 745,419. 55, 594 5, 288, 034! 1,017,70326, 784 50,162 June 29_. 6, 592, 749 4, 797, 4782,371,210 2, 426, 268 1,795, 271 i 898,429 896,842 799,73l! I 59,295 5,418,642, 1,010,935 17,986 46,848 July 6.-. 6, 627. 714 4,821,061 2, 381, 5772,439,484 1.806,653; 895,894 910, 759 715,975; 60,964 5,347,713 1,006," 139 14.632 85,492 July 13.. 6,451,455 4,648,548 2, 248,703 2,399,845 l,802.907| 896,104 906,803 735, 78r 58,755 5,254.891: 975.060 11,904 77,124 July 20. . 6,409,410 4, 646, 228 2, 228, 2992,417,929 1,763,182 891,734 871,44r 741,485 54,872 5,230,314; 987,822 10, 593 37,620 July 27.. 6,433, 783 4,666, 717 2, 266, 5062,400,211 1,767,066 720, 722, 56,638! 5.225,254 1,000,460 10, 593 37, 295 Aug. 3— 6,489,104 4,732, 817 2, 313, 938?, 418,879 1, 756. 287 882, 674 873,613i 753,227! 55,868 5,260,568 1,012,884 9,749 78, 714 Aug. 10- 6,460,026 4, 713, 7722, 280,144;2,433,628 1, 746,254 883,469i 862,785! 751,599 56,566 5,245,809 1,017,981; 5,846 81, 742 Aug. 17-. 6,425, 374 4,694, 819 2, 260, 0652,434, 754 1, 730, 555, 886,848 843,707, 682,306 54,340 5,174,597: 1,012,573 4,467 67,618 Aug. 24.. 6, 382, 566; 4,663,912 2, 227, 5552,436, 357 1, 718, 654 889,976 828,678 725,901; 54,723j 5,121,828: 1,006,896 4,467 86, 652 Aug. 31.. 6, 506, 232| 4, 782,941 2, 295,096 2,487, 845 1,723,291 890,434 832,857 708,166; 55,384 5,263,372 1,001,872 4,467 54, 600 I Sept. 7 6, 504, 9671 4.801,020 2,269,681 2, 531, 339 1, 703, 947 878, 643 825,304 726,734! 59. 255 5,209,161 1,003,120 886 132,096 Sept. 14 6,571,784! 4,872,757! 2,329,510 2,543,247 1, 699,027 879,085 819,942; 714,225 59, 782 5,324,866, l,002,300J 886 59,420 Sept. 21 6, 603, 802, 4,899, 303 i 2,305,902; 2, 593,401 1, 704,499 | 894,807 809,692; 716,086 56, 987 5,177,275 998, 849! 126, 934 74,110 Sept. 28 6, 618,125: 4,926, C90 i 2,348,211 2,578,479 1,691,4351 896,133 795,302 748,004 56,966 5,184,920 1,011,384'126,934 96,055 li Oct. 5_ 6, 707,666i 5,035,024 ! 2,447,612 2,587,412 1,672,642 I 882,025 790, 617 715,091. 59,745 5,268,975' 1,008,167,123, 521124,t, 476 Oct. 12 6,625, 267 4,947,408 2,351,739 2,595,669 1, 677,859 ! 883, 736! 794,123 694,140! 59,853 5, 203, 021 1,018, 620 123, 521'0, 732 O Ow c c^ t t. . . *1 2 „ 6 9_ _ _ _ _ : I 6 6 , , 6 6 2 1 2 3 , , 0 0 2 5 0 5 4 4 , , 9 9 4 3 4 6, , 1 6 4 5 2 1 ; 2 2 , , 3 3 3 4 7 1 , , 6 5 0 7 4 0 ! , 2 2 , , 6 5 0 9 6 5 , , 5 0 3 8 8 1 1 1 , , 6 6 7 7 7 6 , , 8 4 7 0 8 4 ! 8 8 9 8 2 7 , , 4 2 9 6 6 2 7 7 9 8 0 4 , , 3 1 8 4 2 2 7 7 5 5 1 1 , , 4 9 6 9 3 1 , j 5 59 6 , , 8 5 6 1 1 8 5 5, , 2 2 6 8 0 5 , , 6 9 6 2 7 2 ; 1 1 , , 0 0 1 1 1 9 , , 3 9 1 2 7 4 9 7 2 0 , , 3 8 3 8 9 5 4 5 6 6 , , 1 6 4 5 9 1 Nov. 2 j 6,649,332 4,967,412; 2,386,336 2,581,076 1, 681,920 892,405 789, 515 737,190 57, 731 5,285,678' 1,034,543 65, 422 27, 578 Nov. 9 _! 6,705,965 5,009,478 I 2,408, 5501, 2,600,928 1,696,487! 900,090i 796,397 780,489: 65,113 5,336,050| 1,049,663 43,984 106,890 Nov. 16.. 6, 808, 762; 5,061, 473 2, 491, 202j 2, 570, 271 1, 747, 289 943, 202! 804,087 791,877i 58,038 5,461,548 1,057,203 "74', 5'"8"1" 64,818 Nov. 23.. 6,792, 798 5.023,290 2,462,9771 2,560,313 1, 769, 508': 969, 837 799, 671 776, 674! 66, 833 5,452,294; 1,068,821 26, Hi 68,130 Nov. 30.. 6,916, 218 5,131,483 2,573,511; 2,557,972 1, 784, 735,' 970, 963! 813, 772 754, 737| 59,961 5,613,683! l,065,386| 2,658 97,199 Dec. 7- ! 6,856,585.! 5,063,424 2,517,508 2,545,916 1,793,16l'! 982, 243 810, 918 756,480; 63,052 5,562,639 1,027,419 1,35 84,649 Dec. 14 6,836,007'i 5,042,364 2,538,139 2,504,225 1, 793,643 : 992,088 801, 555 756, 6181 74, 201 5,596,212 1,021,657 1,35 79,189 Dec. 21 6,938,898; 5,141,221: 2,641,9591 2,499,262 1,797,677,! 994,184 803,493 777, 375| 85,103 5, 578,195 1,042,45956,841 140i, 273 Dec. 28 16,993,552] 5,209,106 2, 723, 679 2,485,427 1,784,446; 974, 245 8-10, 201 786, 284 71,252 5,543,763 1,045,587 56,841 203!,288 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

63 JANUARY, 1929 FEDERAL RESERVE BULLETIN NO. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927,1928—Continued [In thousands of dollars] Loans and investments Borrow- Loans j Investments Reserve Gov- ings Date Total Total secu O ri n ti es I i o A th l e l r Total m G U S e o n t n v a i t e t t e e r s n s d e - - sec O u t r h i e t r ies F r e e b w d s a i e e t n r r h k v a e l C v a a s u h l t in Net de- Time I I p m d e o r e e s n n - i - t t s F b s a e e a l a r d n r v t e e k e r - curities New York City i |; | 1928 || i| Jan. 4 I 7,199,051 j 5,403,626;! 2,896,544 2,507,082 1,795,425 979, 317! 816,108 822,884 65, 595 o,822,300! 1,102,790 48,929 122,950 Jan. 11 i 7,048,444! 5,174,560!! 2, 667, 234; 2,507,326 1,873,884 1,047,615: 826, 269 796, 641 60,145 6,635,993: 1,095,383 36,989 117r,,4-0"0" Jan. 18 ! 6,947,424! 5,080, 622|| 2,590,916; 2,489,706 1,866,802 1,060,038! 806, 764 783,179] 52, 549 5,577,226' 1,096,911 26, 627 51, ?00 Jan. 25 ; 6,966,773'j 5,061,215' 2, 613, 782i 2,447,433 1,905,558 1,103, 545| 802.013 722, 753 51,824 5,497,155J 1,102,154 24,442 84,000 Feb. 1 6,988,043 5,091,581;i 2,672,601' 2,418,980 1,896,462 1,098,405 798, 057 778, 017 48,468 5,607,377? 1,097,260 23, 218 74, 758 Feb. 8 6,869,008: 4,985, 283 ! 2,519,219: 2,466,064 1,883,725 1,096,615 787,110 767, 719 52,489 5,436,040! 1,109,941 13,051 94,008 Feb. 15 6,837,634! 4,959,246;' 2,479,877! 2,479,369 1,878,388 1,087,322i 791,066 750,931 52, 691 5,421,775! 1,095,117 10, 567 122,823 Feb. 21 6,755,574' 4, 895,448!: 2,410,3561 2,485,092: 1, 860,126! 1, 084, 590' 775, 536 727, 654 55, 817 5,328,144' 1,083,101 10, 567 55,025 Feb. 29. ! 6,905,377jl 4,984,023! 2,462,720 2,521,303: 1,921,354! 1,078,978 842,376 745, 659 51,489 5,563,025! 1,081,473! 10,567 42, 300 Mar. 7 ; 6,836,087 4,921,570! 2,382,268 2,539,302 1,914,517 1, 085, 788 828, 729 747, 254 51, 833 5,481,802 1,061,567 3,161 79,625 Mar. 14 ; 6,954,130 5,031,7471, 2,454,976! 2,576,771! 1,922,383 1, 087, 501 834, 882 729, 592 52.006 5,576,679| 1,060,160 3,161 66, 685 Mar. 21 6,880,373 4,980,643! 2,375,4071 2,605,176! 1,899,730 1, 085, 326 814,404 717,451 49,955 5,358,916; 1,084,050 84,855 44, 300 Mar. 28 7,000,740 5,120,633! 2, 503, 514! 2, 617,119! 1, 880,107 1, 067,028 813,079 757, 352 50,182 5,451,253 1,114,310 84, 855 108,079 Apr. 4 ; 7,234,8001 5,374,444J 2,713,461! 2,660,983 1,860,356 1, 059, 890 800,466 767, 291 50, 7635,635,672 1,116,411 81,457162,414 Apr. 11.__ _._! 7,107,731j! 5,262,061i 2,586, 740i2,675,321 1,845,670 1,056, 247 789,423 800, 845 51, 5035,609,072 1,109,369 69, 677155,001 Apr. 18 ! 7,120,045(1 5,269,555 2, 623, 285 2,646,2701 1,850,491 1, 059, 320 791,171 757, 562 49, 0495,625,960 1,117,365 50,163 91,491 Apr. 25 ' 7,144,682;! 5,304,599 2, 695, 996 2,608,603 1,840,083 1,048, 299 791, 784 781,134 50, 6945,559,005 1,138,060 34,761171, 572 May 2 ..J 7,319,1321 5,469,754 2, 828, 590' 2,641,158! 1,849,378 1,063,984 785,394 797, 279 49, 227 5, 694, 6511,164, 58532,325 179, 806 May 9 ; 7,277,4361 5,401,689! 2,760,384 2,641,305 1,875,747 1,081,992 793, 755 778, 856 51, 8725, 574,9671,185, 23821,187 229, 292 May 16 , 7, 301,439j| 5,424,951|! 2,790,493 2,634,4581 1,876,488 1.079, 762 796, 726 756, 269 49,473 5, 573,0481,195,943 14, 842 233,198 May 23 j 7,249,1101 5,363,456!; 2,704,289! 2, 659,167| *> %$5> 654 1,076,960 808, 694 758, 538 51,662 5,493, 7191, 209, 56110,415 230,351 May 29 ; 7, 265,04l!| 5,379,933jj 2,741,17012,638,763: 1,885,108 1,074, 540 810, 568 742, 607 53,809 5,495,305 1, 209, 66410,415 237, 393 June 6 i 7,215,106; 5,329,267! 2,682,415 2, 646,852 1, 885, 839 1,077,419 808, 420 760, 893 52, 3455,488,856 1,200,182! ..263,233 June 13_ I 7,188,870:! 5,289,055, 2,613,262 2, 675, 793 1, 899, 815 1,088,056 811,759 747, 724 53, 231 5,457, 571 1,198,625! 296,793 June 20 .__! 7,153,784!! 5, 208, 634!| 2,546,278 2,662,356 1,945,150 1,131,412 813, 738 735, 501 51,022 5, 299,9681, 216, 776! 60,855 268, 750 June 27 ! 7,105,261:| 5,166,038|j 2,511,504 2, 654, 5341 1,939, 223 1,116, 317 822,906 751, 888 53,809 5, 270, 7511, 224, 766' 58,415 255, 813 1 ii J J J J u u u u l l l l y y y y 3 2 1 1 5 8 1 ; : 7 7 7 7 , , , , 4 0 0 1 1 5 2 9 0 0 4 3 , , , , 8 1 8 7 4 3 1 0 1 2 3 8 , 1 : i j ! | : 5 5 5 5 , , , , 4 2 1 1 9 7 5 6 3 0 4 0 , , . , 9 7 6 3 6 1 1 2 1 3 5 5 1 ,! ; ! | 2 2 2 2 , , , , 7 5 6 4 6 0 4 9 3 8 0 1 , , , , 1 4 8 0 3 7 5 3 8 5 2 2 2 2 2 2 , , , , 6 6 6 7 6 2 5 3 3 9 2 0 , , , ,8 2 2 7 8 2 4 7 1 3 0 3 1 1 1 1 , , , , 9 8 9 8 1 7 2 8 6 0 3 9 , , , , ! 1 4 3 8 1 9 8 " 5 1 1 1 1 , , , , 1 0 1 0 1 9 1 8 5 9 6 8 , , , , 4 6 4 6 6 2 1 4 1 9 5 8 8 8 7 7 0 9 0 8 3 0 1 3 , , , , 4 9 5 7 1 8 5 6 9 0 9 9 7 7 7 7 4 5 0 1 5 1 8 3 , , , , 3 0 6 6 5 7 6 8 9 1 4 8 5 5 5 51 7 5 3 , , , . 4 9 0 5 7 5 0 7 6 8 7 4 5 5 5 5 , , , , 1 1 5 2 8 4 1 5 1 3 2 6 , , , , 0 1 4 6 3 6 5 6 6 2 4 7 1 1 1 1 , , , , 1 1 1 1 6 9 8 5 1 1 5 8 , , , , 3 2 3 9 4 1 7 7 2 1 7 6 ! ; 4 2 3 2 6 0 5 6 , , , , 2 9 5 7 0 4 4 4 4 0 2 9 2 2 3 3 2 1 1 4 3 3 1 5i , , , , , , 5 4 3 6 9 0 7 3 6 0 6 3 A Au u g g . . 8 1 . _ ' 6 7 , ,1 9 3 9 5 2 , , 6 1 5 6 3 8 ^ - ! 5 5 , , 2 2 2 8 6 3 , , 9 42 8 7 8 ! i ! i 2 2 , , 5 6 2 2 2 0 , , 6 5 8 0 5 9 ; !2 2 , , 7 6 0 6 3 3 , ,4 7 7 4 9 i 1 1, , 8 7 5 6 1 5 , , 6 7 6 4 5 1 1 1 . , 0 0 8 0 0 1 , ,2 5 1 3 1 8 7 7 6 7 4 1 , , 1 5 2 3 7 0:6 75 8 9 8 , , 0 7 2 4 6 7 4 5 9 2 , , 1 8 5 4 9 3 5 5 , , 0 2 2 5 2 2 , , 155!1 1 , , 1 1 5 5 6 8 , , 1 5 1 5 5 7 ; ; 4 3 9 5 , , 1 5 1 04 7 2 2 5 4 4 4 t ,215 Aug. 15 ! 6,887,471j: 5,129,007! 2,446,441 2, 682, 566 1, 758, 464 994, 939 763, 525169% 290 51, 3785,013,390 1,172,151! 32,035187,610 Aug. 22 i 6,882,620!' 5,133,614] 2,445.211 2, 688, 403 1, 749,006 995, 797 753, 209|692, 257 51,861 4, 985, 9671,158, 087i 24, 568 229, 040 Aug. 29_ _J 6,914,3131 5,156,689! 2,429,186 2, 727, 503 1, 757, 624 1,001, 914 755, 710j690, 825 52,377 5, 032, 9801,161,977i 19, 631 197,824 J ! i Sept. 5 ! 7,037,913!! 5,265,546! 2,551,027 2,714,519 1,772,367 1,025,049 747, 318!685. 552 53,429 5,109, 7331,171,794! 15, 700 260,205 Sept. 12 ! 6,991,2361 5,203,393|i 2, 494, 745!2,708,648 1,787,843 1,042, 334 745, 509'728, 700 53,814 5,129,234 1,164, 711, 11,184 269, 584 Sept. 19 ! 7,063,144) 5,246,6751; 2,552,361- 2,694,314! 1,816,469 1,071,482 744,987!742,880 51, 923 5,078,121 1,180.114' 55,659 305,336 Sept. 26 j 6, 994, 786 j 5,169,312! 2,476,578 2,692,734! 1,825,474 1,071,811 753, 663 j705, 399 53,145 5,049, 5831,185, 342j 44, 528 228,852 Oct. 3 J 7,038.636! 5,258,526! 2,547,307! 2,711,219! 1,780.110 1.068, 946 711,164J 719,408 52,280 5,122, 7171,183,792! 26,511255,989 Oct. 10 ! 6,965,791!, 5,198,1561! 2,475,661 2,722,495 1,767,635 1.069, 472 698,163|697, 417 61, 981 5,104, 5731,192,630' 17, 392 236, 319 Oct. 17 _ _ _j 7,009,881! 5,185,672^! 2,525,517 2,660,155 1,824,209 1,114.669 709, 540723, 312 50,822 5,121, 5421,219,015 57, 792 201,323 Oct. 24 ! 6,998,689 5.184,677]j 2,541,525; 2,643,152 1,814,012 1,107,203 706,809|700, 779 52,654 5,138,311 1,219,241 43,154 156, 535 Oct. 31 I 7,050,395;! 5,219,92411 2,581,400, 2,638,524 1,830,471 1,100, 574 729,897 758, 505 53,161 5, 273,1881,216,949 40,991 160, T" N N "N N " o o o o v v v v . . . . 7 2 1 21 8 4 _ . . . . . _J ' 7 66 77 , , , ,, 9 0 , 1 9 0 4 5 6 4 5 8 7 66 0 , . , , 3 3 5 4 30 8 0 5 0 5 3 8 2 8 J ; ' 1 ' | 5 5 55 5 , , ., ,1 , 2 2 1 3 4 5 6 4 5 6 4 6 4 3 , , ,1 1 ,8 1 8 1 0 2 1 4 1 4 4 1 0 j 2 2 2 2 . , , , 6 6 5 7 4 4 8 8 3 6 8 4 , , , , 1 3 3 5 0 4 7 6 5 9 4 2 ; ! 2 2 2 2 , . , , 6 6 5 5 0 0 7 6 8 1 9 9 , , , , 0 7 2 4 0 5 5 7 6 5 0 8 i 1 1 1 1 , , , , 8 8 7 8 0 0 8 1 2 2 3 3 , , , , 3 1 6 5 9 9 2 4 9 7 8 5 1 1 1 1 , , , , 0 0 0 0 8 9 8 7 8 2 4 4 , , , , 4 9 5 5 6 3 4 5 7 1 4 7 7 7 7 7 1 0 3 0 7 8 1 3 , , . , 4 0 7 9 5 1 7 4 5 4 1 0 7 7 7 72 4 0 1 1 4 7 2 , , , , 8 0 1 5 2 1 3 8 9 6 8 7 6 6 5 5 0 3 6 3 , , , , 5 5 2 3 8 6 3 3 6 1 0 5 5 5 5 5 , , , , 2 3 1 2 0 5 9 9 9 4 8 3 , , , , 8 3 7 6 1 5 7 1 2 0 8 0 1 1 1 1 , , , , 2 2 2 2 1 0 0 0 5 4 6 5 , , , , 8 3 2 3 1 1 8 0 7 1 0 4 2 2 2 1 7 2 2 6 , , , , 0 0 5 5 4 4 3 61 7 7 0 2 2 1 2 9 0 0 3 1 8 2 , , , , 7 9 3 8 8 4 4 1 5 5 3 3 Dec. 5... 7,225,639; 5,410.392 2,819,910 2,590,482 1,815.247 1, 086, 514 728, 733 725,618 55,698 5, 395,1351,197,244 5, 572 243,! Dec. 12.. 7, 056 969 5, 251, 629 2,653,392 2,598,237 1, 805, 340 1,085, 346 719,994 778, 501 62,910 5,294,245 1,192,050 1,101 220,235 Dec. 19.. 7,108,424 5, 296,490 2,639,043! 2,657,447 1,811,934 1,096,160 715, 774741,972 73, 599 5, 247,2961,195.990 67, 953 138, 600 Dec. 26.. 7,216,3161! 5,399,385 2,747,936 2,651,449 1,816,931 1. 097. 334 719, 597761, 207 76,400 5, 283, 2501,206,681 53,487280, 675 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

64 FEDERAL RESERVE BULLETIN JANUARY, 1929 No.2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES. BY WEEKS, 1927, 1928—Continued [In thousands of dollars] Loans and investments Bor- "Loans Investments Reserve Gov- rowwith Cash Net ern- ings at Date Federal in demand Time ment Feder- United I reserve vault deposits de- al re- Total Total :secu O r n ities All other Total s G e S n c o t u i v a e r e t n i e t r t i s n e s ;1 ! .se O cu th ri e ti r es banks posits b s a e n rv k e s Other leading cities 1927 Jan. 5- 13,506,179 10,035,977 3,676, 922 6,359,055 3,470,202! 1,454,584! 2,015,6181 968,178 239,292i 7,934,891' 4,923,288112!,, 497 315,060 Jan. 12 13,497, 559 I10,001,899 3, 641, 681 6,360,218 3,495,660 1,486,910, 2,008, 750 954,194 230,346 7,984,323! 4,941,208 "8"6,077 216,411 Jan. 19 13,469, 560; 9,969,651 3, 636,601 6,333,050 3,499,909 1, 505,973 i1, 993,936 953,815 210,918i 7,948,478; 4,936,583 86,0091191.729 Jan. 26. 13,450,890 i 9,939, 522,3,625,679 6,313,843 3,511,368 1, 514, 064| 1,997,304 941,633 207,422, 7,890,381; 4,943,405 86,070168,435 Feb. 2 13,448, 578 9,929,125 3.634, 570 6, 294, 555 3, 519,453: 1, 507,483!2,011, 970 978, 949 199, 832 7,926,153! 4,934,319 86,216177,858 Feb. 9 13,479,811 9, 942,4943, 641, 778 6,300,716 3,537,317 1,515,717 2,021, 600 944,117 209, 111 7,914,642! 4,947,825 72,996 153,158 Feb. 16 _ 13, 507,040 | 9,931,943 3, 624, 376 6, 307, 567 3, 575,097, 1, 527, 384!2,047, 713 979, 386 196, 584 8,003.622! 4,947,783 72,999 171, 529 Feb. 23 13, 531,344 9,954,737: 3,627,632 6, 327,105 3, 576, 607i 1, 518,15712,058,450 923,904 220, 285| 7,946,4011 5,005,750 74, 778! 189, 025 II Mar. 2 13. 609, 536 9,996, 552; 3,660,1491 6,336,403 3,612, 984! 1, 532,020 2, 080. 964 963, 317| 198,975^ 7,946,308! 5,079,038 74,676 204,999 Mar. 9 13,639,125|| 10,018,504i 3,654,033 i6,364.471 3,620,621 1,521.922 2,098,699 948,764; 210,473i 7,940,755': 5,087,765 66,189184,547 Mar. 16 13,862,175; i 10,075,705^ 3, 690, 262i 6. 385,443 3, 786,470| 1,669. 540 2,116,930 985, 915 198,182 8, 095, 357| 5,037, 582 243,, 618 169,257 Mar. 23 13,815,776 i 10,025,419: 3,670, 700! 6,354,719 3, 790,3571 1, 670, 918 2,119,439 954,185 203, 552! 7, 959, 696, 5,050, 564 222222 , 778862120033,158 Mar. 30 13,818,605; | 10,024,822, 3, 661, 712, 6, 363,110 3, 793, 783j 1, 651, 000 2,142, 783 924, 799 204,264 7,886,740 5,044,323 215,653 212,698 Apr. 6 .- 13, 767,38111 10,010,799' 3,642,492! 6,368,307 3, 756, 582 1,651,593 2,104,989 980.400 204,441 7,974.847! 5, 056,176 2.„0 J0,, 453 179,935 Apr. 13 13,763, 701 10, 030, 055!3,676, 335, 6, 353,720 3, 733, 640 1,032,173 2,101, 473! 944,6171 210,614 8,012,347! 5,050,827185,1881.173,344 Apr. 20 13,713, 502 ' 9,983,184 3. 670, 545': 6,312, 639 3, 730, 318 1, 639, 280 2,091,038j 971,724! 203,489! 7,958,784! 5,000,882125, 415 205,143 Apr. 27 _ 13, 772, 587 ! 10, 007,926' 3,701,006; 6,306,920 3, 764, 661 1, 648,564 2,116, 097 964,517; 204,569; 7,923, 565i 5,117,888 118,220 2091,,010 May 4 13,811,835 10,049,208, 3,698.784 6,350,424 3, 762,627 1,653,190 2,109, 437 976,219| 201,799| 7, 975, 335 5,129, 684 111,276 229, 654 May 11 13,827,934 10, 059, 886; 3, 703, 9711 6,355,915 3, 768, 048 1, 059, 943 2,108,105 900,880 206,283; 8, 030,929 5,152,613 92,040 183,983 May 18 I 13,881,804 10, 062, 077 3,734,982! 6,327,095 3,819,727 1, 680, 635 2,133, 092! 905,082! 200,4941 8, 000, 500 5,175,442 06,890 226.958 May 25 13,878,785! 10,045, 225, 3,723,905; 6,321,320 3,833, 560 1. 675,829 2,157, 731i 979,207i 200,549 7. 986,918 5,170, 557 64, 249 206,443 Junel .1 13,854,288! 10,049,491| 3,749,451 6,300,040 3, 804, 797 1,611,967 2,192, 83o! 901,7011 202,275 7,992, 654 5,103,492 52,180 245,151 June 8 ' 13.837,238i 10, 096, 334; 3. 805,963 6, 290, 3713, 740, 904 1, 576, 849 2,104,055! 968,65l| 8,044,140 5,134,044 31,478 188,333 June 15 I 14,004,517 10,134, 928| 3,826, 266!6, 308, 6623,869, 589! 1, 095, 219 2,174, 370i 995. 3821199, 507! 8,179, 422 5,141, 278 17" 9,939 173,295 June 22 13, 950,843 10, 091, 276 3, 788, 600' 6, 302, 6763,865,567 1,681,958! 2,183, 009 966, 634i 201,0001 7,954,943 5,148, 378 173, 5i2:2 219,163 June 29 13,996,705 10,133,896, 3,808, 566i 6,325,330 3,862,809 1,672,011 2,190,798' 945,867; 209,563! 7, 950, 597 5,180,1951144, ~035 259, 067 11 July 6.. 13,956, 286 10,103,635- 3,811,42l| 6, 292, 2143, 852, 651 1,004,990 2,187,601 970,445i 215,037! 8,039,42o! 5,175,203117,624 256,692 July 13. 13,918, 272 10, 093,193 ! 3, 804, 985!6, 288, 2083, 825,079 1,656,105' 2,168,974 968, 099i 212,313] 8,090, 652| 5,192,747J 95, 279! 187, 631 July 20. 13, 922, 324 10,087,311: 3,822,123| 6, 265,1883,835,013 1,659,1691 2,175,844 j 957,458J 198,802' 8,034,143 5,180,9051 84, 859,208, 822 July 27. 13, 896,897 10, 059, 209; 3,810, 277 6, 248, 9323, 837, 688 1,662, 354j 2,175, 334j 950,416 201, 512! 7,999, 950 5,190,284| 84,925! 196,015 Aug. 3 13, 856, 57010,061,258 3,799,611 6,261,647 3,795,312 1, 633, 500!2,161, 740 980,309! 195,795 8,017,090 5,197,127; 78,483 206,330 Aug. 10 13,923,842 10,121,395i 3,822,710 6,298,685 3,802,447 1, 020, 787i2,175, 000 950,354; 200,730 8,086,050i 5,213,283! 46,904 178,902 Aug. 17 13,921, 628 10,135,899!| 3,846, 7011 6, 289,198 3, 785,729 1,006,769J 2,178,900 980,186; 193,460 8,095,039 5,210,051!' 3 5,932; 108,'4"25" Aug. 24 13,888,110 10,098, 594:i 3,830,339 6, 268, 255; 3,789,516 1, 002,195 2,187, 321 982,102! 198,417 8,031,385 5, 223, 955 35,910 170, 701 Aug. 31 13,929, 276 10,120, llli| 3,834, 512 6, 285, 599. 3, 809,165 1, 609,441 2,199,724 983,131 190,541 8, 082, 9855, 238,889, 35,844 185, 776 Sept. 7 13,921,189 6,261,706; 3,819,889 1, 000, 3082,213, 521! 972,330' 208,932 8,117, 2725, 244,472; 7, 004 163, 258 Sept. 14 14, 041,962i 10,198,6941 3,886,149 6,312,545; 3,843,208 1,015,803 2, 227, 405! 984,618- 210, 345 8,228,879 5,261,240; 7,276,, 104,744 Sept. 21 14,157,187] 10,222,054:j 3,895,455 6, 320, 599 3, 935,133 1, 701,4072, 233, 720! 982,82li 201,575 8,055, 8435, 209, 343 22244, 881199 119955 , 660066 Sept. 28 14,193,837i 10, 242, 204 I 3, 920, 235 6,321,969, 3,951, 633 1,711,152 2,240,481: 908,898' 202,120 8, 059,9605,287,140 225,310 181,726 Oct. 5... 14, 244,258 10,267,212! 3,910,403 6,350,749, 3,977,040 1,727,604 2,249,442; 991,664; 202, 722: 8,138,440 5, 326,954!212, 766:195, 031 Oct. 12_ 14,287,111 10, 303,990 3,923,959 6,380,037, 3,983,115 1,733,187 2,249,928' 1,004,694' 206,952 8,197,943 5,335,180 213, 71l'215,720 Oct. 19 _ 14,314,106 10, 317, 607i 3,944,310 6,373, 297i 3,990,499 1,739,423; 2,257,070 990,700: 200,401 8,158, 313 5, 335, 389159, 754i224,285 Oct. 26_ 14,258, 208 10,280,852 3,960,189 6,320,663: 3,977,350 1,721,692 2,255,664 971,672: 200,211; 8,135,120 5, 322,870 122, 807 198, 303 Nov. 2. 14,236,344 10, 205,845 3,931,958 6,333,8871 3,970,499 1, 697, 574 2, 272, 925: 990,300! 199,708 8,187, 551 5,299,530113,083 204,,433 Nov 14, 257, 307 10, 278,434 3, 913, 949 6,304,485: 3,978,"" 1684 "-' '"' 969,9161 221,0601 8,211,776 5,341, 814j 76,050 2031,,548 Nov 16 14, 395,075 10, 202,093 3, 936, 568 0,325,525! 4,132, 1,835,730! 2,297,252 1,002277, 337711)i 220044,333333' 8, 317, 210 5, 353,1451240, 715 167,,750 Nov 23 14,414,803 10,285, 775 3,944, 278 6,341.4971 4,129,028 1,826,8651 2,302,163: 976, 706: 212, 368] 8, 290, 758 5, 384, 772i 8844?; 800 205, 951 Nov 30 14, 381,930 10, 254, 813, 3,911,590 6,343,223 4,127, IV 1,828,723 2,298,394; 1,000, 069j 215,740j 8,350, 792 5,392,483 8,475233, 326 Dec. 7.... 14, 393,089! 10, 286, 259! 3,962, 648 6,323, 611 4,100,830 1,821,162 2,285,068' 1,006,609- 225,3411 8,356, 733 5,373,108 4, 242 219, 745 Dec. 14 14,430, 827! 10, 310, 302 3,983,241 6, 327, 061 4,120, 525 1,819,169 2,301,356: 1,023,481; 238,873J 8,404,089 5, 377, 537 5, 348 274,119 Dec. 21 14,447,876 10, 266,455 3,902,744 6,303,711 4,181, 421 1,871,387 2,310,034 990,601 252,907! 8, 230, 902 5, 389, 621 1341, 929|291, 788 Dec. 28 14, 415, 800j 10, 200, 533 3, 974, 679 6, 291, 854 4,149, -" 1,827,279! 2,321,988 1,021,880^ 244,634j 8, 213, 511 5,398,002 135'i., 179:259, 824 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

65 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 2.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1827, 1928—Continued [In thousands of dollars] Loans and investments ! Bor- Loans : Investments j Reserve Gov- row- Date ; United ~j I I F re e w s d e i e t r h v ra e l v C a i a n u s l h t d de e N p m o e a t s n it d s de T p i o m s e its m e d r e e n - n - t I 1 i F n a e l g d s r e e a r - t - Total Total On i | G S m o t v a e e t n e r t s n- ! j se O cu th ri e ti r e si j banks positsj i b se a r n v k e s , securities : Other lead-; ing cities ! 1928 • I Jan. 4 ! 14,429,824j: 10, 270, 398: 4,008,591- 6, 261, 807: 4,159, 426 ! 1,844,453 2, 314. 973; 1,022,991 228,445 8,354,171, 5,434,981115,240 269,343 Jan. 11 ! 14,499,9611 10,312,691' 4, 021, 392 6, 291, 299i 4,187, 270 1, 875, 256 2, 312, 014; 1, 029, 236J 221, 7388,441,449 5,458,351' 87,047,195,902 Jan 18 ! 14,499,270! 10,291,551. 4, 033, 882 6,257,669i 4,207,719 1,904,539 2,303,180 1,014,989! 202,412 8, 346, 369 5, 463, 2821 62, 645 239,435 Jan. 25 ! 14,380,790! 10.170, 839: 3,942, 024, 6,228,815! 4,209,951 1,917,021! 2,292,930 1,005,158 196,17i" 8, 252, 294 5,485,175 56,324.176,602 Feb. 1 j 14,431,362'; 10,224,433! 3,079,210 6, 245, 223; 4, 206, 929 1, 920, 072 2, 286, 8571 999, 345 189,851 8, 247, 817! 5, 496, 929; 53, 534 223,890 Feb. 8 I 14,464,068!' 10, 262,1531 3, 997,408:6,264,745! 4,201,915 1, 913, 585 2, 288, 3301, 005,149! 198, 580 8, 218,489 5,516,043! 29,739 245,332 Feb. 15 i 14,454,36311 10,248,321; 3,968,637 6, 279, 6841 4, 206,042 1, 910, 572 2, 295,470 1, 003, 977j201, 754 8, 269, 780 5. 525, 536; 24, 203 237, 595 Feb. 21._. J 14, 444, 5911! 10,229,225:1 3,982,606 6, 246, 619' 4, 215, 366 1, 899, 985 2, 315, 3811,009,060 189, 622 8,142,071 5, 522, 618! 24,194 280, 593 Feb. 29 ' 14,422,486!! 10, 237, 228: | 3,974,378: 6,262,850 4,185,258 1, 866,454, 2, 318, 8041, 003, 562!190, 99ol 8,129, 569 5,535,928 23,848 313,175 Mar. 7— 14,472,540;! 10,309,2261 4, 006, 295 6, 302,931 4,163,314 l,848,957i 2,314,357 989, 5311 195, 727 8,136,281 5,576,568 7,181280,229 Mar. 14.. 14, 540, 316: j 10, 374, 953: 4,038,113: 6, 336, 840 4,165,363 1,836, 638' 2, 328, 725 999,980: 196,067 8,196, 787 5, 602, 779| 7,182 285, 210 Mar. 21.. 14, 674,401 | 10,369, 265! 4, 048,089! 6, 321,176 4, 305,196 1,944,480 2, 360, 716 983,976i 192,170 8, 071, 915 5, 628, 027jl9fi, 591 308, 901 Mar. 28_. 14, 650,531! j 10,370,198 4, 050, 839; 6, 319, 359 4, 280, 333 1,918, 612!2, 361, 721 980, 214; 192, 242 8, 040,369 5, 628, 286 195, 938 274, 721 Apr. 4__ 14,737,530!, 10,456, 774! 4,118, 637 6, 338,137 4, 280, 750 1,911,639:2, 369,117 1,006,017! 193, 085 8,188, 939 5, 614, 323 191, 721 305, 246 Apr. 11. 14,822,305!! 10,546.002 4,167, 314 6, 378, 688 4, 276, 303| 1,923,784 2, 352, 5191,000,182! 197, 223 8, 261, 882 5, 638, 896 165,148 314, 653 Apr. 18. 14, 837, 752! j 10,538,763 4,176,160 6, 362, 603 4, 298, 989i 1, 941, 732:2, 357, 2571,002, 738: 190,437 8, 228, 603 5, 648.157| 118, 403 377, 974 Apr. 25. 14,773,127;: 10,466,331 4,131, 864. 6, 334,467 4, 306, 796j 1, 950, 6622,356,134 1,015,972 191,393j 8,148, 302 5, 665, 284] 82, 339 373,435 May 2... 14,843,220': 10,526,835' 4,139,679, 6,387,156 4,316,385! 1,956,969; 2,359,416 1,012,018 190,638 8, 215, 593 5, 669,948 76, 367 404,942 May 9... 14,844,189-! 10,545,585: 4,163,775 6,381,810 4,298,6041 1,940,411; 2,358,193 1,018,628! 196,436 8,232,753 5,702,124 50,868 378, 664 May 16.. 14,869,955:1 10,565.182' 4,191, 018, 6, 374,164 4, 304, 7731! 1,934,262' 2,370,511 997,8071 185,526 8, 266, 787 5, 702, 534 35,117 396,086 May 23 I 14, 874, 835,- 10,547,786; 4,206,393 0,341,393 4, 327, 049| I 1,951,889. 2,375,160 993,916, 193,326 8,150,676 5,701,775 27,375 428,473 May 2-9 J 14,894,662! 10,574,19*:' 4' ,2"3"*1 ,4"7"5";' 6" ,3"4'"2 ,7"2~1 4,320,4661! 1,919,127: 2,401,339 999,062 191,749 8,102,526 5,719,934j 26,658 500,082 June 6.. 14,869,739! 10,580,920: 4, 241, 203 6, 339, 71714.288,8191! 1,932,932 2,355,887 994,942j 194,407 8,136,383 5,717, 207 J 14 510,221 June 13_. 14,926,507^1 10,644,247. 4, 255, 740, 6, 388, 507 4,282,260!; 1, 923, 238 2,359,022! 1,010,752; 200,952 8, 223, 292 5, 728, 993; 537, 652 June 20_. 14,895,210!! 10, 625, 035! 4, 236, 944 6, 388, 091 4,270,175] I1,913, 684' 2,356,4911 978,788; 192,285 7, 990,128 5, 698, 858i 150, 080 505, 026 June 27.. 14,899, 348; j 10.. 640,015; 4, 248, 214: 6, 391, 801 4, 259, 333j j1, 897, 472 2, 361, 861 j 979,756: 195,312 7, 932, 910 5, 705, 276 144, 268 547, 405 July 3... 14, 902, 760 I 10, 649,196: 4, 259, 537^6, 389, 65914, 253, 564'i1, 891, 077!2,362,487! 1, 028, 434! 192,397 8, 021.728 5, 718, 849115, 595 644. 040 July 11.. 14, 837, 867 !| 10,621,257 4, 233, 819 6, 387. 43814, 216,610! j1,885,407. 2,331,203 996,015 204,603 8,041,042 5, 695,075! 87,192 527,988 July 18.- 14,840,041:: 10,635,667 4, 217, 026 6,418,641 4, 204, 3741 1,881,383 2, 322, 9911 973.602 190,389i 7,965,282 5,668,514; 66,661574,012 July 25.. 14, 765, 701'" 10,582,544 4,195, 900| 6, 386, 644|4,183,157| 1,865, 462 2,317,695, 973,847 188,291 7,863,479 5,665,890 51.150 575,156 Aug. 1 14,893,956: 10,632,619 4, 204, 234 6, 428, 385!4,261,337J| 1,955,862 2. 305,475! 972,400 184.318 7, 892, 845 5, 681,802 195,186 599,180 Aug. 8 ' 14, 853, 549! 10, 636, 556 1, 208, 525 6, 428, 03 lj4, 216, 993, 1, 934, 062 2,282,931! 961.694 191,065 7,816,30S! 5, 667, 659 158, 899 583, 082 Aug. 15 j 11,877,431: 10,667,934 4, 205, 308 6, 462, 62614, 209, 497i 1,923,977. 2, 285, 520! 969,296! 184,253i 7, 896, 362 5, 658, 862 152, 752 577, 336 Aug. 22 i 14,803,828! 10,622,574, 4,171. 049 6, 451. 52514.181,254'! 1, 908, 321 2. 272, 933! 968,651! 192,887! 7, 799, 430 5, 665, 343123, 611 568, 651 Aug. 29 ! 14,801,848'! 10,633,993-1 4,181, 342 6, 452, 651 4,167, 855: j1,901, 556 2, 266, 299 962,716i 193,17ll 7,795,930 5,676,734; 98,235 588,742 Sept. 5-_ 14,795, 541'I 10, 640,425: 4,178,048 6, 462, 377 4,155,1161,895, 543 2, 259,573 973, 606; 193, 989! 7,909,512| 5,655,750; 78,554564,992 Sept. 12.. 14,796,105=1 10,675,617 4,188, 718 6, 486, 899 4,120, 4881,879, 804 2, 240, 6841 993, 796! 198, 932; 8,021,736| 5,652,469-' 55,756 555,402 S S e e p p t t . . 2 1 6 9 . . . . 1 14 4 , ,9 88 1 9 6 , , 8 05 4 2 3 ' i 1 1 0 0 , , 6 6 9 9 3 8 , , 8 0 5 2 5 2, 4 4 , , 2 1 0 9 3 0 , , 1 9 1 5 9 2 6 6 , , 49 5 5 0 , 2 8 , 0 3 90 3 4 ! , 1 4 9 , 0 2 , 2 1 2 3 , 0 9881 1 , , 9 9 5 8 5 4 , , 0 1 4 1 1 7 1 1 2 2 , , 2 2 3 3 8 5 , , 8 0 7 8 1 9 1 j 9 9 7 8 9 7 , , 5 7 7 9 9 2 ! | 1 19 9 4 3 , ,40 39 6 2 1 ! 7 7 , , 9 93 6 1 7 , , 0 2 0 7 4 5 5 5 , , 6 65 6 1 3 , , 2 81 3 4 7 . 1 1 5 2 0 0 , , 9 5 0 5 1 1 : 5 5 5 4 5 9 , , 9 4 7 2 8 3 I Oct. 3___ 14,887,091;!10, 752, 801:!4,185, 3226,567,479 4,134,290 1, 918, 212 2, 216, 0781 988, 957! 195, 957' 8,059,509 5,639,875! 72,072544,536 Oct. 10__ ! 14, 872,038! I10, 768, 774! I4,198, 8576, 569, 917 4,103, 264 1, 905,038: 2,198, 226! 984, 387 204,812; 8,053,357 5,640,308! 47,542 533,802 Oct. 17__ 14,962,146: i10,803,566 4,198, 4266, 605, 1401 4,158, 580 1,961,571: 2,197, 0091 993, 775 196,965J 8,130,154 5, 628, 509132, 639 518, 687 Oct. 24__ I 14,925,730.110,786,980 14, 208, 8766, 578,104' 4,138, 750 1,947,321 2,191, 4291 988,557 199,488: 8,026,390 5,625,634j 98,369531,639 Oct. 31__ 14,977, 836i|10, 857, 488;4, 244, 9336, 612, 555, 4, 120, 348 1, 926,499, 2,193,849 979, 881 195,371' 8,052, 210 5, 648,058 93, 742*542,130 Nov. 7... I 14, 932, 582 j10, 839, 918'4, 247,965 6, 591,953i 4,092, 664 1,909,917; 2,182,747 986,985! 208,606 8,095,101 5,639,432 64, 206 533,455 Nov. 14.. ! 14, 928, 306 110,845,501! 4, 266, 8536, 578, 0481 4, 082,805 1, 908, 547. 2,174, 258 1,008,005! 209,082! 8,168,179 5,636,332| 50, 457; 532,897 Nov. 21.. ! 14, 922, 857! |10, 830, 359'4, 278,850 6, 551, 509| 4, 092, 498 1,897,137! 2,195,361 994,925! 199, 2011 8,102,877 5,643,2881 50, 769J492,621 Nov. 28.. 1 14,926,635'!10, 845, 866!4,324,001 6,521,865 4,080,769 1, 894, 396.. 2,186,373 980,354 204,432'i 8,052,949 5,641,284 37, 803j538, 211 Dec. 5._. 14,964,3S0!i 10,880,772!' 4,321,245 6,559,527 4, 083, 608 1,891,233' 2,192,375 995,894 213,332 8,115,778 5,633,430 12,826 541,560 Dec. 12.. 15, 011,173! 10, 936, 267;I 4, 355, 225 6, 581, 0424,074,906 1,876,141 2,198,765 1,004,949, 225,636 8,203,435' 5,634,992 2, 530.572, 502 Dec. 19 I '"1 5',~1' 24,* 1-6'-8 '10, 951,039 I 4, 34S, 514 6, 602, 525 4,173,129 1,963,202 2,209,927 967,315 239,253] 8, 074, 7341, 5, 649, 249; 181, 226'561, 571 Dec. 26 ! 15,047,748'10,8 ,753;I 4,340,941; 6,543,812 4,162,995 1,954,074 2,208,921 1,014,617 249,9241 7, 982, 030j 5, 656, 973J144, 408 637, 448 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

66 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928 [In thousands of dollars. For total for all districts see Table No. 2] BOSTON DISTRICT Loans and investments I Borrow- Loans Investments ! Reserve Gov- ings Date Fe w d i e th ral C i a n s h j de N m e a t nd : Time ; m er e n n - t F a e t d- United reserve vault deposits de- eral Total On secu- States Other bank posits re- Total rities All other Total Go m v e e n r t n- securities s b e a r n v k e ! securities 1927 Jan. 5_. 1,355,178 1,028,942 360,614 668, 328 326, 236 j 128, 489 197,747 92, 851 23, 080! 914,485 423,947: 16, 7941 24,275 Jan. 12.. 1, 339, 7531, 009, 747 344, 680 665,067 330,006. 133, 728 196,278 94,4601 22, 078 j 905, 235: 422,421 12,271; 17,648 Jan. 19_. 1, 344, 5171, 014,172 353,490 660, 682 330, 345! 135, 056 195, 289 i90,417! 21, 2821 910, 028 423,147': 12W272| 5,891 Jan. 26. 1, 346, 7731, 021, 076 351, 02: 670, 054 325, 697! 134, 688 191, 009J 98,831" 20, 646 j 907,042: 424,842. 12,270j 9,244 Feb. 2... 1,352,185 1,023,395 350,914 672,481 328,790' 135, 235 193,555! 101,290 19, 542 916, 638: 423,784 12, 270 i 11,840 Feb. 9... 1, 349, 9501, 021,163 347, 010 674,153 328, 787. 135,140! 193, 647i 97,005 19, 628 906, 814; 422,068: 10,096! 10,384 Feb. 16.. 1, 348, 043 1, 017, 797 340, 669 677,128 330, 246: j 134, 687! 195, 559 95,102 18.818 912, 619, 420,157! 10,095| 9,468 Feb. 23.. 1, 339, 0781, 007, 393 337,822 669, 571 331,685,| 134, 656j 197, 029 90, 614 19, 022 887, 573' 421,226' 10,095 18,983 i Mar. 2... 1, 352, 750 1, 020, 367 344, 248 676,119 332,383- 134,482 197,901 94,116 18, 470 904, 4681 422,999 10,096 19,098 Mar. 9... 1, 353,145 1, 017, 017 341, 608 675,409 336,1281; 134,434 201, 694 97, 240 18, 609 901,408; 425,631! 8,637| 21,146 Mar. 16.. 1,388,98- 1, 034,808 349,802 685, 006 354,176;! 154,129 2ZU0U0,, U044/7 9y4%,< 7Z2L1 18, 208 911,134: 428,772 34,9381 12,576 Mar. 23.. 1, 383,94' 1, 028, 501 348,016 680, 485 355, 446 i 153, 847 201, 5991 95, 631 18, 398 885, 345; 430,870 31,442! 17,367 Mar. 30.. 1, 396,135 1,041,032 357,461 683, 571 355.103 | 142, 041 213, 062 99, 390 18, 249 883,124j 430, 240, 30, 499! 32,142 Apr. 6... 1, 380,410 1,025, 924 349,292 676, 632 354,486 152,319 202,167 98,248 18,695 902,0761 428,451] 18,403* 9,553 Apr. 13.. 1,375,884 1,023,902 353,996 669,906 351,982 148,657 203, 325 98, 788 19,008 906,893! 429,245 16,174; 12,441 Apr. 20.. 1, 349, 789 1,000,240 337,174 663, 066 349, 549 147, 606 201, 943 95,010 18, 986 892,131j 429,829; 27,776| 10,174 Apr. 27.. 1,364,05: 1,006,302 337,559 668, 743 357, 755 147,916 209,839! 99,156 19, 378 901, 557i 430,341! 26,710 3,821 May 4... 1,361,607 1,002, 973 336, 558 666,41 358, 634 148,177 210,457 97,498 18,996 899,989! 434,745' 15,704 17,288 May 11.. 1, 373,151 1.005, 921 331, 204 674, 717 367,230 151, 786 215,444 98, 235 19, 320 906,429' 434,239; 13,065 22,482 May 18.. 1,379,154 1,007,118 336,156 670,962 372,036 151,859 220,177 96, 673 18, 781 895, 601.1 435,845, 9,699 28,200 May 25_. 1, 395,128 1,021,168 341,831 679, 33" 373,960 152,029 221, 931 102, 041 19,108 909, 5151 436, 544! 9,214 30, 372 June 1__. 1.407,205 1, 036, 508 350, 071 686,437 370, 697 148, 561 222,136 99, 730 19,102 921,402J 436,177' 7,465 33, 569 June8__. 1,396, 559 1,034, 098 355,946 678,15f 362,461 136,496 225,965 96,446 19, 781 903, 914 J 437,368, 4,486 14,995 June 15_. 1.424,778 1,038,6tt 354, 553 684,114 386, 111 158,834 227, 277 100,140 19.819 923, 262 441,597 27,691 9,829 June 22.. 1,417,929 1,033, 501 350, 935 682,566 384,428 155,893 228, 535 98,440 19, 246 906. 538 444,972 26,880 14,031 June 29.. 1,446,814 1,053,833 375,071 678, 762 392, 981 155, 902 237,079 98.910 18, 381 906, 512| 451,671; 22,373 33, 053 July 6... 1,452,275 1,064,470 382, 565 681,905 387,805 156. 683 231,122i 94,153 19, 364 928, 040 461,0191 18,448 15, 851 July 13.. 1, 441, 758 1, 053,042 362.387 690,655 388, 716 156, 407 232,309|101,786 20, 001 942,885 462,291! 14,813 10, 548 July20_. 1,450,128 1, 050,460 361,464 688,996 399, 668 166,128 233, 540 101,966 18, 733 932, 372 461.777: 13,187 21, 676 July 27.. 1,440,825 1, 045,839 362, 546 683.293 394,986 162, 289 232, 697 95, 902 18, 934 922,456 462,548 13,188 14,682 Aug. 3... 1,430,722 1,040,861 357, 552 683,309 389, 861 156, 552 233, 309 98, 948 17, 620 936, 319 466,058' 12,131 12, 206 Aug. 10.. 1,435, 610 1,040,994 358,493 682, 501 394,616 155, 298 239, 318 97, 375 17,925 930,461 464,169i 7, 283 22, 022 Aug. 17.. 1,425, 802 1, 038.698 360, 977 677, 721 387.104 149, 048 238, 056 96, 359 17,847 927,000 465, 868' 5, 573 17,417 Aug. 24.. 1,413,747 1, 038,082 362, 537 675, 545 375, 665 137, 582 100,414 17, 712 915,930 466,107! 5,573 15,974 Aug. 31.. 1,416,973 1,037,654 365,905 671,749 379, 319 137, 588 241, 731 101,480 17, 386 919, 688 469, 020! 5, 573 24, 661 Sept. 7... 1,416, 67J 1, 036,173 366, 344 669,829 380, 502 136,947 243, 555 99, 707 18, 623 915,657 480, 504| 1,120 14, 752 Sept. 14.. 1,438, 67J 1, 058,142 386, 382 671, 760 380, 533 137,484 243, 049 103, 676 19,842 932,405 4S0, 799 i 1,120 17,172 Sept. 21.. 1,459, 56 1, 086, 715 387, 747 678, 968 392,846 153, 749 239, 097 98, 757 18, 593 918, 875 483.197! 33,430 21, 722 Sept. 28.. 1.477, 69: 1, 076,058 394,085 681,973 401,633 158, 077 243, 556 101, 803 17, 922 921, 405 483,519 33,431 22, 957 Oct. 5... 1,481, 564 397,811 687,458 396, 295 153, 344 242, 951 100, 962 18, 273 958,965 480,489! 31,669 20, 288 Oct. 12.. 1.478, 770 1,086', 550J 392,007 694, 543 392, 220 152, 004 240, 216 103,867 17,946 940, 742 479,472 31,669 20,966 Oct. 19.. 1,492,846 1,091,186 395,157 696,029 401, 660 163, 572 238, 088 104, 269 19, 075 959, 825 476,085 23,656 17, 715 Oct. 26.. 1,496,213 1,100, 623 400, 730 699,893 395, 590 157, 622 237, 968 104, 284 19, 065 952,890 475,490: 18,006 29, 216 Nov. 2... 1, 510, 292 1, 405, 602 411,824 162, 966! 248, 858 105, 401 18,412 986, 619 477,967! 16, 777 19, 381 Nov. 9... 1, 505,965 1,100,8141 397,862 702, 952 405,151 160, 923 j 244, 228 100, 666 18, 773 962, 971 486, 693 11, 288 20,126 Nov. 16.. 1, 517,345 1,090,815 388,029 702,786 426, 530 180, 686 245,844 104, 664 18,854 973, 695 488, 856 36, 745 11,355 Nov. 23.. 1, 506, 7491,081, 778 378,451 703,327 424,971 183,433 241, 538 101, 577 17,400 955,120 489, 504 12,864 24, 510 Nov. 30_. 1, 501, 756 1,080.662 378, 263 702, 399 421,094 178,859 242, 235 103, 204 19,096 967, 684 494, 538: 1,300 23, 882 I Dec. 7— 1,498,431 1,083,057) 386,380 696, 677 415, 374 179, 065! 236, 309 102, 992 19, 240 961,123 493, 335i 653 21, 595 Dec. 14. 1,504,159 1, 088, 396 385, 7821 702, 614 415, 763 183, 327 232,436 107, 986 20, 646 972,112 492, 296| 653 30, 375 Dec. 21. 1,493, 030 1, 083, 5551 383, 749 699,806 409,475 178, 705 230, 770 102, 735 24,190 953,052 492, 060 16, 845 23, 833 Dec. 28. 1, 505, 3631, 089, 733| 391, 576 698,157 415, 630 182,915i 232, 715 103,864 25,141 953,449 498,525! 16,845 23, 797 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

67 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928-Continued [In thousands of dollars. For total for all districts see Table No. 2] BOSTON DISTRICT—Continued Loans and investments Borrow- Loans Investments i Reserve Gov- ings Date United | l I r F e w e s d e it r e h v r e al v C a i a n u s l h t I d d e e p N m o e a s t n it d s i ] dape T nPn0 i < m S ,: lt e t<s , m e d r e e n n - - t F e a e ra t d l - States ! bank i posits re- Total °^e e c s u-|Allother! Total Govern- oth serve ment bank securities | 1928 Jan.4 1,494,835 1, 082, 77' 397, 567 685, 2101 412,058 180,519! 231,539, 105.702 22, 567! 977, 649! 496,175! 14,287 5,929 Jan.11 1, 502, 007 1, 097, 946 411,918 686, 0281 404, 061 175,462| 228,5991 106,036 21, 660! 983, 251! 489,496! 10,798 6,946 Jan. 18 1, 499, 571 1, 091, 438 409,251; 682,187 408,133 177,501! 230,632! 104,562 20, 089! 975, 862! 483, 440! 7, 777 9,384 Jan. 25 1, 470, 930 1, 066, 342 388, 402! 677, 940 404, 588 176, 098! 228,490J 100,596 19, 318| 958, 748; 485,203^ 6,998j 3,855 *Feb. 1 1, 490, 644 1,085,379 396, 928! 688, 451 405, 265 177, 317| 227,948! 18, 830 18,322! 964, 672' 483, 521 j6, 6501 21,970 Feb. 8 1,494,169 1, 089, 987 402, 456; 687, 531 404,182 174,371: 229,811 101. 252 19, 741, 945,721! 487, 873! 3, 747| 35,147 Feb. 15 1,479,943 1, 078, 247 388,1261 690, 1.211 401, 696 169, 955j 231, 741 99, 93S 18, 924! 949, 959; 488, 543 j 3,034! 20,871 Feb. 21 1,476,583 1,071,056 381, 320| 689, 7301 405, 527 172,335; 233,192: 101,170 18, 059 926, 682 488, 862; 3,034! 29,250 Feb. 29_... 1, 474, 805 1, 068, 641 381, 487j 687,154; 406,164 171,087! 235, 077; 99, 703 18, 877; 925, 3371 490, 468 3,034 40,151 ! Mar. 7 1, 485,138 1, 083, 047 397,691! 685, 356' 402, 091 170,161! 231,930, 99,616 18, 920' 933,047! 493, 242 915 31,959 Mar. 14.... 1, 518, 782 1,117,218 422, 733J 694, 485! 401. 564 163, 988! 237,576 106,419 15, 9G7| 937,396; 520, 419 915! 34,435 Mar. 21.... 1, 545, 582 1,124, 362 429, 888 694, 474' 421, 220 182, 5551 238,665! 105,850 18, 784; 935, 785, 524, 250 21,033 30,674 Mar. 28.... 1, 545, 897 1,126, ( 430, 311 695, 783; 419,803 182, 085, 237,718 100,673 18, 873; 926, 507; 531, 276 21,033 40,282 Apr. 4 1, 552, 482 1,136,116) 452, 516 683, 600! 416. 366 179, 442! 230, 9241 108,135 18, 319; 979, 9321 503, 614 20,189 24, 586 Apr. 11.... 1, 560, 353 1,144,462 455, 824 688, 638! 415, 891 178, 939j 236,952i 106,590 18, 926 982, 415' 502, 962 17, 273 31, 289 Apr. 18.... 1, 569, 501 1,142, 608 449,100 693, 5081 426, 893 192, 534j 234,359! 105,813 18, 557; 984,979: 503,446 12,442 41,110 Apr. 25.... 1, 549, 763 1,123,191 431, 315 691, 876J 426, 572 190, 948j 235,624; 104,947 18,154; 964, 238; 505, 710 8,624 26, 474 j May 2 1, 558, 693 1,129, 536 439,105 690,431! 429,157 ] 95, 240! 233,917! 105,017 18,513| 974, 530; 503, 996 8,021 29,477 May 9 1, 542. 332 1,110,222! 426, 373 683, 849i 432,110 195 726j 236,384| 102,545 18, 574i 951, 098 505, 867 5,267 40,868 May 16 1, 538, 620 1,111,093! 427. 624 683, 469j 427, 527 191, 384j 236,143] 100,505 18,029! 956, 395; 505, 599 3,692 42,070 May 23.... 1, 544,106 1,119,077! 434, 450 684, 627 425, 029 187, 997, 237.032! 105.637 18,1881 946, 455 503, 006 2,585 51,224 May 29 1, 531, 522 1,111,174jj 437, 019 674,1551 420, 348 187, 747 j 232,601; 100,499 16, 630! 924, 093 510, 098 2,585 56,949 I I June 6 1, 501, 233 1, 089, 844i 423, 3241 666, 520J 411, 389 185,1091 226, 280l 101,742 18, 615! 927,453! 501,757 53, 606 June 13 1, 521, 433 1,108.392! 439, 771 j 668, 621 i 413, 041 185, 986! 227,0551 100,4071 18, 363' 926, 064: 499,499 58, 378 June 20 1, 510,007 1,114,096 443,483' 670, 6131 395,911 168, 6541 227,257 98,812 17, 725 894,985 496, 769 9,775 63,460 June 27 1, 513, 662 1,121,S07| 444, 773 677,034 391,855| j1 164,886; 226,969! 97,993 17, 508; 895, 873; 496, 617 9,381 58, 386 July3 1, 511, 464 1,126,128 j 441, 5401 684, 588J 385,336 157,991 227, 345 j100,632 16, 880 921, 965 497,884 7,543 52, 444 July 11 1,497,! 1,116,495 L 430,960 685, 535! 381,481 156,944 224, 537; 99,178 18, 844 919, 518: 498, 085 5,663 34, 275 July 18 1,498, 585 1,111,675 1 422, 347 689, 328, 386, 910 165, 400 221,510' 99,121 18,008 922, 449 494,404 4,317 38,118 July 25 1,488,161 1,103, 765 I 418,987 684, 778! 384, 396 163, 783 220, 613 97,160 18, 048 897, 599; 492,425 3,312 42,129 Aug. 1 1, 508, 788 1,110, 624 i 426, 511 684, H3! 398,164! 178, 786| 219, 378 96, 312; 17, 381 911,273: 488,982 42,193 Aug. 8 1, 505, 522 1,119,980! 428,153 691, 827) 385, 542; 170, 595 214,947; 100,000! 18, 285 896, 551 i 489,998 35,731 41,178 Aug. 15 1,501,873 1,116,923 416, 265 700, 658' 384,9501 170, 265 214, 685! 99,106! 17, 949 894, 208; 489, 575 35,236 44,941 Aug. 22.... 1, 478, 984 1, 096, 255 398, 832 697, 4231 382, 729! 169, 714 213,015j 97,102 18, 522 887, 460; 489, 532 29,473, 37.875 Aug. 29— 1, 469, 651 1,090,730 388, 746 701, 984: 378,921! 166, 080 212, 841| 98, 249J 18, 945: 885, 324| 491, 323 23,650 34,406 i i Sept. 5 1, 467, 846 1,086,132 389,711 696, 42l! 381, 7141 166, 981 214, 733j 100,8151 19, 041 i 895, 592; 487, 924 18,8321 33,871 Sept. 12 1, 473, 624' 1,094,7511 392, 870 701,881! 378,873: 165,993 212, 880j 97,353 20, 783: 912,16S! 488,155 13,427 26,497 Sept. 19. __ 1, 483, 262; 1, 084, 321! 389, 853 694,468; 398, 94l! 187, 361 211, 580; 97, 279 19,926' 908, 675! 485, 402 20,917 31,925 Sept. 26. __ 1, 481, 971 1, 087,146' 394, 258 692, 888! 394, 825! 184, 499; 210, 326| 99, 627 19,361 902, 828; 487,065 16,553 28,184 i! Oct. 3 1,485,144 l,109,649i; 397, 684 711,965| 375, 495! j 168,420; 207, 075! 103, 296 19, 514' 935, 274! 480, 366 9,971! 29,691 Oct. 10 1, 469, 777 1,101,242! 400, 373 700, 869i 368, 535 163, 910; 204, 625| 101, 874 20, 552 922,150 477,114 6,546, 39,549 Oct. 17 1, 484, 764: 1,116, 58311 410,613 705,970j 368,181 i 167, 601! 200, 580j 102, 679! 19,953 944,6761 477, 241 15,006! 19,343 Oct. 24 1, 479, 857i 1,115,937!! 422, 240 693, 697 363,9201 162,011! 201, 9091 102,090 19, 670 939,084; 474, 442 10,654! 16,996 Oct. 31 1,492,078 1,133,041^ 435, 910 697,131 359,037! 157,0831 201, 954; 102, 226 19, 523 950, 819| 472, 298 10,465! 18,186 i Nov. 7 1,490,250:! 1,126,144! i 440,! 685, 245 364,106i 162, 532! 201, 574' 99,689 19,828 945,944' 470, 700 7,1681 18,264 Nov. 14. __ 1,479, 056 i 1,115,335'; 431, 642 683, 693! 363, 72l| 162,449' 201, 272! 102, 392 20, 217 947, 539' 469,117 5,637^ 32,565 Nov. 21. __ 1,476, 243 i 1, 1.16, 85lJ 443, 873' 672, 978! 359, 392! 160, 806i 198, 5861 100,456 19,409 939,863: 471,974 5,726! 32,844 Nov. 28.-_ 1,477,583! 1,118,126! 448, 569 669, 557! 359,457|| 160, 599 198,858j 97, 317) 17, 658 909, 208; 474, 850 4, 325| 41,316 Dec. 5 1,452, 583 1,099, 241' 433, 759 665, .i^-. 353, 342 159, 209 194,1331100,816| 20, 695 918,972! 474,935 1,443 29,868 Dec. 12.... 1, 455, 939' 1.103, 820' 442, 190 661, 630 352,119 153, 207! 198,912i 101. 319! 21, 449 919, 652^ 473, 849 299! 33,121 Dec. 19 1,466,901 1.104, 99l! 448,994 655,997 361,910 157, 367! 204, 5431 97; 963 22, 613 917,581i 475, 559 5,954! 38,900 Dec. 26— 1,468,051' 1.105, 666 446,993 658, 673 362, 385 157,116i 205, r~ 100, 924 24, 942 901,168: 477, 367 4,689| 63,675 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

68 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] NEW YORK DISTRICT Loans and investments I Borrow- Loans Investments Reserve Gov- ings Date Total Total ;; i O r n it i s e e s c u- ! i All other i Total u •: G U S m o n t v a e i e t t r e e r i s d t n - i ; j se O cu th ri e ti r es F re b e w s d a e i n e t r h v k ra e l v C a i a n u s l h t | d d e e N p m o e a s t n it d s de T p i o m s e its j i I p m e d o r e e s n n - i - t t s s b F e e r a a e r e r t n a d v - l k - e securities 1927 • ;i ;| j Jan. 5-_v I 7,416,529:1 5,448,762^1 2,608,387! 2,840,375 1,967,767: 940,660, 1,027,107 840, 296 84,197 5, 855, 5961,361, 386 47, 010 148, 222 Jan. 12. _.J 7,315, 849;j 5,320,376i| 2,487,9l7i 2,832,459 1,995,473 932,774i 1,062,699 785, 918 5, 764,1331,373,108 36, 206 104. 417 Jan. 19 ! 7,180, 9881' 5,213,490:1 2,410,689' 2,802,801 1,967, 498 933,113! 1,034,385 773, 832 73, 095 5,641, 4051,362,397! 36,206 6^031 Jan. 20 | 7,149,919;! 5,169,967|! 2,376,063 2,793,904 1,979,952; 941,090 1,038,862 718.397 72, 764 5, 544,9171,365,977 36,206 37,148 Feb. 2 • 7,202,515^! 5, 212, 977 i 2,419,344 2,793,033 1,989, 538 | 943,810' 1,045,728 733,249 71,131 5,608,017 1,376,707 36,206 52, 623 Feb. 9 ; 7,108,646l! 5,120.663:' 2,323,582, 2,797,081 1,987,983 ! 946,262! 1,041,721 748.398 75,304 5,496,944 1,383,837| 31,111 76,136 Feb. 16 I 7,104,124 j 5,113,870'i 2,340,0571 2,773,813 1,990,254": 947,357 1,042,897 778,341 69, 928 5, 505, 0221,392,230! 31,111 77, 719 Feb. 23 ' 7,113,95r; 5,111,336 i 2,347,509 2,763,827 2,002,615; 953,396 1,049,219 719, 846 76, 246 5, 434, 6851,387,893 31,111 64, 015 Mar. 2 ! 7,247,529^1 5,237,643! 2,418,782 2,818,861 2, 009, 886 956,740 1,053,146 738, 666 69, 632 5, 601, 2971,372,613 31,116 Mar. 9 i 7,220,395] 5,211,820! 2,390,1831 2, 821, 637 2,008,575 957, 5091 1, 051, 066 742, 294 72, 489 5, 569, 5251,379,156! 27,672 Mar. 16 i 7,409,296,1 5,280,053!' 2. 437.380l 2,842, 673 2,129,243 1,075,4591 1,053,784 755, 414) 67,129 5,721,353 1, 403, 033! 106,118 25,752 Mar. 23 \ 7,389,137;! 5,303,316i! 2,420,215 2,883,101 2, 085, 821 1,004,682 1,081,139 814, 294i 70,062 5,680,700 1,391,321 95,507 115,157 Mar. 30 ! 7,370, 515 j 5,294,411; 2,471,619 2, 822, 792|2, 076,104 991,902 1,084,202 815,863; 72, 030 5,677,235; 1,405,644 92,277 91,801 i Apr. 6 • 7, 438,870 s 5,357, 806: 2, 520, 528 2, 837, 278 2, 081, 070 1,003, 8111 1,077,259 702,176: 71, 375 5,640,780. 1,396,831 86,212 78,356 Apr. 13.. .__; 7,370,037,1 5,291,947' 2,450.389 2, 841, 558 2,078,090 1,005,344' 1,072,746 789, 404' 72,369 5, 627, 502 1, 422, 4061 79, 439 120, 841 Apr. 20 : 7,402,393! 5,309,547 1 2,480,859 2,828, 688 2,092,846 l,007,602J 1,085,244 738, 292; 69, 473 5,664,193 1,416,407 53,793 65,189 Apr. 27 • 7,442,123 1 5, 322,863'; 2,510,1072, 812, 756 2,119, 260' 1,043,9491 1,075,311 782,921! 71,923 5,712,221': 1,412,538 50,709 90,786 ! May 4 i 7,540,557^ 5, 411, 905 ! 2, 573, 865 2, 838,040 2,128, 652! i 1,057,1441 1,071,508 803,378 72,322 5, 775, 348' 1,402,305 47, 486 141,916 May 11 j 7,510,487 5,363,158 j 2,505,475 2, 857, 683 2,147,3291) 1,076,1321 1,071,197 770,543' 73, 087 5,765,188 1,401,0821 39. 6451115, 569 May 18 ! 7,560,470 5,381, 552 i 2, 542, 504 2*,,8 O3o9»,, 0u4*8o 2,178,918'; 1,074,349 1,104,569 792, 794! 69, 983 5,813,813; 1,420,109 29311; 93,954 May 25 ! 7,539,280 5,362,631 ! 2,514,4631 2,848,168 2,176,649|) 1,065,323 1,111,326 768, 488 i 72,187 5,812,070! 1,410,453 27, 9371 63,073 Junel. _._.! 7,681,677 5, 546,957 2,679,0841 2,867,873 2,134, 720|! 1,016,702 1,118,018 819,334 70, 247 6,031,810. 1,424,131 22,6261 88,951 June 8 ! 7,636,192 5,455,149. 2,603,238 2, 851, 911 2,181, 043 ii 1,056,211 1,12^8321 822, 52? 73, 483 5,897,255 1,495,214 13,565! 60,627 June 15 7,752,982 5, 478, 532 j 2, 632, 270 2, 846, 262 2, 274, 450)! 1,115,356 1,159,094! 881,080, 67,556 6,154,754; 1,467,731 35,162 33,312 June 22 7,658,189, 5, 495, 204 z, t>4Y, 4/v 2, 847, 7272,162,985: 1,015,847! 1,147,138 809, 776: 69, 609 5,882,354! 1,476,489 32,647 66,260 June 29 I 7,721,416 5,578,097. 2,706,955| 2,871,142 2,143,319 ' 996,333!' 1",146,986 865, 271: 73,753 6, 011,368: 1,471,696 22,980! 73,483 ! i July 6 i 7,749,255: 5, 585,296: 2,712,893! 2,872,403 2,163,959 ! 999,703 1,164,256 776,149 76,151 5, 944,461! 1,466,106 18, 694 117,996 July 13 i 7,563,598' 5,408, 299 2,507,428 2,840,871 2.155,299!! 999.476 1,155,823 800,897. 73, 270 5,847,300 1,436,670 15,211108, 777 July 20 7,514,250 5, 397,440 2,554,209 2,843,231 2,116,8lO|i 991,303 1,125,507, 801,843 68,175 5,815,395 1,451,049 13,534 64,076 July 27 7,533,812 5, 413,112 2,588,573] 2,824,539 2,120, 700! j 987, 595 1,133,105i 783,593; 09,905 5,804,473 1,464,918' 13,534 65, 602 i Aug. 3 _. 7,578,354! 5,470,153 2,628,807j 2,841,346 2,108,201!; 980,207J 1,127 994!810,082: 09,231 5,827,635 1,483,622; 12,456 98,323 Aug. 10. 7, 543,469; 5,447,174 j 2, 587, 309' 2,859^ 865 2,096, 295 ' 979,047 1,117,248; 810, 600 j 70,443 5,807,459! 1,490,637' 7,469i 100,142 Aug. 17 7, 514, 661 ! 5,435,686. 2,575,437 2,860,249 2,078, 975 979,990 1,098, 985 742,154: 67,181 5,744,935 1,485,012J 5, 708( 82,399 Aug. 24 7,469,324'! 5,403,057 2,549,986 2,853,671 2, 065, 667 981, 7711,083,896, 784,207: 68, 066 5,681,300' 1,479,755! 5,708 102,024 Aug. 31 7, 593,049'| 5,510,952 22,660044,335566 2,912,596 2,076,097 988,290 1,087,807! 772,0981. 68, 425 5,827,404! 1,477,790! 5,708 76,066 i Sept. 7 7,595,924! 5,538,859 2,581,032 2,957,827 2,057,065 976,125 1.080, 940i 780,227! 73, 673 5, 778, 987: 1,478,49o! 1,131 147, 729 Sept. 14 I 7,676,806!| 5,622,698' 2,649,082 2,973,616: 2, 054, lOSj 970, 8191, 077, 289, 770, 794; 73,510 5,906,685! 1,476,805! 1,131 81,503 Sept. 21 ! 7,717,018:! 5,651,076: 2,625,386! 3,025,690) 2,066,542, 995, 6551, 070, 887;770,440 70, 294 5,754,086: 1,475, 868!134, 258 95,253 Sept. 28 I 7,734,516] 5,680,966; 2,667,152 3,013,814 2,053,550 990, 5811, 050, 909;809, 562 70,103 5, 763, 510! 1.490,108:134,258 114, 768 Oct. 5 7,835,705! 5,797,092 2,767,170 3,029,922 2,038,613! 984,287 1,054,326 778,326; 73, 664 5,853, 9971 1,499,721:130,491143,1,118 Oct. 12 7, 757, 286 I 5, 716,440' 2, 677, 629 3, 038, 811! 2, 040, 89486,4!,9l54 1,055,8921 757,123 73,801 5,790,150 1, 518, 973 130, 491 88, 684 Oct. 19. 7, 767,184 | 5, 720, 980 2, 670, 617; 3, 050, 363! 2,046,20949'2!,0181 l,054,18(-i| 813,807 70,719 5,872, 909; 1,512,531; 97,548 67,152 Oct. 26 7, 755, 905 i 5, 714, 222 2, 676, 230 3, 037, 9921 2, 041, 969843,'830 1,046,847! 811,069. 73,303 5, 838,489^ 1,522,159 74,896 77, 770 ! Nov. 2. 7, 787, 018 ! 5, 743, !, 717, 3333,026,6521 2,043,033! 989,017| 1,054,010 798,409 70, S22 5, 870, 502' 1,535,604 69,112 44,587 Nov, 7,843,914'! 5,785,091 2, 738, 325 3,046, 766j 2,058,823| 993, 538 1,065,285" 839,170 81,219 5 923 191 1,556,056; 40, 403'123,120 Nov, 16 7, 959,4431: 5,845,179 2,826,944 3.,, 0. 18,, _23.5..! 2,,1..1.4,,_ 2.6_4, 1,037, 552 1,076,712! 856,450 71,009 G, 0h',827\ 1,564,617; 81,02879,531 Nov. 23 7, 943, ISO,, 5, 80(1, 039 2, 798,499| 3, 007, 540! 2,137, 111 1, 003, 849 1,073,262! 839,349; 81,309 6,036,574! 1,579,652; 28,308 85,173 Nov. 30 8, 067, 835ji 5, 918, 779 2, 912, 693; 3,006,086) 2,149,056j 1, 065, 201 1,083,855! 816,333; 73,864 6, 205, 991! 1,574,075! 2,879118,991 I Dec. 7 8,012, 557i! 5,854,370 2, 85>88,,521 2.995,849| 2,158,187; 1,076,730 l,081,4f)7; 821,192' 79, 880 6,153,137! 1, 542,090; 1,400 104,446 Dec. 14 8,000,120!' 5,841,302 _2,,_J7,335 2,953,967) 2,158,81s1 1, 089, 72(i 1,069,092' 819,835 91,243 6,189,207, 1,537,357! 1,460J101, 398 Dec. 21 _ 8,110,207)1 5,947,443 2,998,374! 2,949,069! 2,162,764' 1,092, 676 1,070, 088, 836, 345,104,118 0,173,029' 1,559,678: 62,752164,103 Dec. 28 8,173,90511 6,026,300: 3, 090, 626| 2, 935, 674' 2,147,605! 1,073,114 1,074,491] 856,038' 88, 821 6,144,203i 1,563,665' 62, 752!233, 946 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 69 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928 [In thousands of dollars. For total for all districts see Table No. 2] NEW YORK DISTRICT—Continued Loans and investments Borrow- Loans Investments i Reserve Gov- ings Date United ! IF r e e w s d e i e t r r h v a e l I ; ! v C i a a n u sh lt d d e e N m po e a s t n it d s de T p i o m si e ts m e d r e e n n - - t F e a e ra t d l j Total Total O r n it i s e e s cu- All other Total G S m o t v a e t e n e r t s n- se O cu th ri e ti r e s ! ! bank ' I posits s b e a re r n v - k e securities 1928 I J J J J a a a a n n n n . . . 4 1 2 1 8 5 1 . , .. _.| 8 8 8 8 , , , 1 2 1 ,3 2 3 2 7 1 8 3 3 , , , 2 4 6 ,8 0 2 3 4 8 2 8 4 ! | ! 6 5 5 5 , , , , 9 8 9 2 0 9 7 1 2 5 6 9 , , , , 8 3 2 3 7 8 1 6 2 3 3 2 2 , , , , 0 2 9 9 4 7 9 7 2 0 3 7 , , , , 3 9 0 4 2 7 0 7 9 2 9 7 2 2 2 2 , , , , 8 9 9 9 8 4 2 5 3 8 4 3 , , , , 3 3 6 5 6 1 2 0 7 0 1 2 2 2 2 2 , , , , 1 2 2 2 5 6 1 2 4 2 9 7 , , , , 0 8 1 5 4 6 0 1 6 2 7 0 j 1 1 1 1, , , , 1 1 0 2 5 3 7 0 6 3 9 7 , , , , 9 1 7 0 2 8 9 5 8 8 4 3 1 1 1 1 , , , , 0 0 0 0 6 8 7 5 2 7 7 8 , , , , 3 8 3 9 7 1 7 9 9 6 4 3 J : | | 8 8 8 7 4 5 9 8 8 9 5 7 , , , , 8 7 5 5 5 1 2 7 1 6 4 4 ) ; ! | 8 7 6 6 6 5 2 5 , , , , 0 9 2 5 6 6 8 9 0 9 6 1 6 6 6 6 , , , , 1 4 0 2 7 3 8 5 9 0 4 0 , , , , 0 3 7 7 0 8 5 1 7 2 8 0 1 1 1 1 , , , , 6 6 6 6 2 2 2 2 2 2 1 8 , , , ,1 9 7 2 1 9 0 5 6 4 8 9 4 2 2 5 " 6 0 9 4 , , , , 8 4 0 9 • 5 0 4 4 " 5 9 1 5 " 1 1 2 9 5 6 2 7 5 4 , , , , 0 0 2 7 5 2 2 3 0 3 5 9 Feb. 1 i 8,167,9241, 5,915,254 3,054,928 2,860,326 2,252,670 1,197, 249 1,055,421! 838, 024i 60,918 6,204,656 1, 624, 392 25, 594 92, 359 Feb. 8 j 8,044,067J 5,806,180 2,896,749 2,909,431 2,237,887 1,193,145 1, 044, 742!836, 355j 66,9051 6,037,569 1,639,584 14, 384 103,022 Feb. 15 j 8,013,3251' 5,781,515 2,859,9381 2,921,577 2,231,810 1,183, 275 1,048, 5351817,333 66,125 6,031,864 1,622,949 11,647 129,683 Feb. 21 i 7,928,471!' 5,712,071 2,785,9021 2,926,169 2,216,400 1,179,863 1, 036, 537' 797,039! 69,731 5,933,585 1,608,945 11,647 62, 705 Feb. 29 1 8,074,046', 5,795,123 2,830,960| 2,964,163 2,278,923 1,175,837 1,103, 086 815, 311 65,189 6,159,9031 1,608,949 11,647; 53,053 I Mar. 7 8,019,171] 5, 740, 510 2,754,679 2,985,831 2, 278, 6611,188, 790 1,089, 871 814, 382* 66,236 6,079,431! 1,586,451 3,482101,303 Mar. 14 8,138,534! 5,853, 087 2,829,098 3,023,989 2, 285,447 1,187, 463 1,097, 984 797,487: 65, 664 6,187, 725! 1, 584, 036 3,482 88,115 Mar. 21 8,077,2891 5, 805,313 2,750,843 3,054,470 2,271,976 1,191, 352 1, 080, 624 781, 704! 63, 773 5,963, 586| 1, 612, 872 94,436 60,109 Mar. 28 8,198,6561 5, 947,182 2,877,759 3,069,423 2, 251,474 1,172, 200 1,079,274 821,310; 63, 745 6,044,862| 1,643,960 94, 436 129, 227 Apr. 4... 8,429, 209 6,195,944 3, 082, 603 3,113,341 2, 233, 2651,165,173 1,068, 092 831, 022| 65, 42o 6, 233, 460! 1, 647,958 90,652183,082 Apr. 11.. 8, 315,409 6, 098, 794 2, 967, 211 3,131,583 2, 216, 6151,159,149 1,057,466 864,960; 65, 798 6, 217,444! 1, 641, 796 77, 541177, 520 Apr. 18.. 8,339,969 6,117,130 3, 015, 569 3.101, 561 2, 222,839 1,164,064 1,058, 775 821,401 62,602 6, 238, 367! 1, 650, 472 55, 823 123, 573 Apr. 25.. 8,374, 669 6,159,410 3, 094, 777 3, 064,633 2, 215, 2591,154, 674 1,060, 585 849, 692; 64, 337 6,175, 484; 1, 672, 613 38, 682 207,468 I May 2... 8, 548, 6346, 330, 2863, 229,340 3,100,946 2, 218, 3481,169, 794 1, 048, 554 864,611: 62,397 6,324,334i 1, 696,179 35,971211,061 May 9._. 8, 508,146 6, 267, 4673,164, 786 3.102, 681 2, 240, 6791,182,8331 1,057,846 846,132' 66, 374 6, 214,850, 1, 715, 798 23, 579 251, 674 May 16-. 8, 519, 5426, 284,6103,188, 507 3,096,103 2, 234, 9321,180, 772! 1, 054,160 822,049: 62, 254 6,204,8911 1,726,434 16, 512 254,483 May 23.. 8, 461, 2596, 216, 3383,096,448 3,119,890 2, 244,921 1,177, 215] 1,067,7' 827, 789i 65,85r 6,103,1471 1, 740, 772 11,583 264,413 May 29.. 8,486,935 6, 241, 7653,136, 566 3,105,199 2, 245,170 1,174,--' 1, 070,190 813,251' 66,910 6,116,099, 1, 738, 972 11, 583 276,162 i June 6__. 8,456, 226 6, 202, 2993, 078, 961 3,123, 338 2, 253,927 1,180, 692 1,073, 235 827, 725' 66, 58o 6,115,412^ 1,723,398 315,931 June 13-. 8,425, 2626,157, 5683,001, 587 3,155,981 2, 267,694 1.191, 250 1,076,444 817, 6411 67,431 6,081,905! 1,722,759 348,241 June 20_. 8,397, 429 6.089, 5042,944,411 3,145, 093 2, 307,925 1, 233, 847 1, 074, 078 802, 293| 64, 751 5,913,050: 1,739,914 64,664 328, 974 June27_. 8,335, 091 6, 030, 6592,891, 335 3,139, 324 2, 304,432 1, 221, 583 1,082, 849 820, 5001 67, 749 5,871,049| 1,748,367 62,071 319,038 July 3... 8,637, 5176, 360, 7963,144, 550 3, 216, 246 2, 276,721 1,218, 521 1,058, 200 817, 497! 71, 535 6,118,547! 1,698,544 49, 876 384,100 July 11. . 8, 403, 7286,130,878 3,019, 747 3,111,131 2, 272,850 1, 221', 049 1,051, 801 809, 590i 70, 650 5,847,768! 1,704,679 37,402 404,118 July 18. . 8, 245, 6056,014,105 2, 883, 422 3,130, 683 2, 231. 5001.192, 295 1,039, 205 777,024| 66, 329 5,757,381! 1,683,383 28,420 259, 564 July 25.. 8, 214,315 6,005,036 2, 864, 559 3,140,477 2, 209, 2791,178, 353 j 1,030,926 769,179! 65, 259 5, 710,126| 1, 682, 565 21,822 268,212 Aug. 1 8,342,240 6,147, 5623,003, 778 3,143, 784 2,194, 678 1,176,933J 1,017, 745 818, 2681 62,935 5,823,954! 1.695,397 55,276 300,708 Aug. 8 8,196,329 6.090, 9272,911,076 3,179, 851 2,105,402 1,094.364 1,011,038 747, HOj 66, 230 5,576,167! 1,697,854 39, 742 288, 243 Aug. 15 8,101,110 6, 003,1242, 845, 781 3,157,343 2, 097, 9861, 088, 240 1,009, 746 757, 669 64, 228 5,579,956! 1,715,003 36, 717 230, 729 Aug. 22 8,094,035 6, 007, 04S2, 841, 225 3. 165, 824 2, 086,986 1,088, 995 997,991 753, 495 65,373 5,550,427| 1,700,003 28,378 270, 591 Aug. 29 8,125,303 6,031, 009 2, 826,420 3, 204, 589 2, 094, 2941,095,111 999,183 756, 471 66, 093 5, 591, 622| 1, 705, 272 22, 673 246, 233 Sept. 5... 8. 248, 090 6,142, 5362, 953, 81' 3,188, 719 2,105,554; 1,117,923! 987.631 747,962 67.691 5,679,816: 1,714,686 18,134 302, 079 Sept. 12.. 8, 202, 768 6,082. 946 2,893, 957 3,188,989 2,119, 822 1,134, 323 j 985,499! 795,119 68, 695 5,709,819:' 1.707,432 12, 917 307, 949 Sept. 19-. 8, 282, 384 6,130,902 2,956,116 3,174, 7862,151,482' 1,166,515! 984, 9671 803, 765 66, 047 5, 640,204; 1, 726, 333 59,624 348, 737 Sept. 26- 8, 220, 337 6, 062, 3902,885,718: 3,176,672 2,157,947 1,166,393 i 991,554| 767,784 67,170 5,607,096i 1,731,506 48,017 283,165 Oct. 3__ 8, 255, 239 6,149, 706 2,955.020i 3,194, 6862,105,533 1,161, 784: 943,7491 780,993 66, 587 5, 695, 27311, 719,334 28,346 306,583 Oct. 10- 8,181, 924 6, 090, 8832, 880, 7051 3, 210.1782,091, 041 1,161, 902: 929,139! 760,027 78, 304 5, 669, 74911,727, ' 18,731 291,962 Oct. 17 _ 8, 230,955 6, 082,1632,934,344 3,147,819 2,148. 792 1, 210,467' 938,32o| 785,946 65, 331 5,691,015!1, 754, 232 61, 392 254, 394 Oct. 24_ 8, 209, 627 6, 073,0882,943,914 3,129,174 2.136, 539 1, 201, 345: 935,1941 762,491 66, 818 5, 690, 7771, 760, 345 45,839 202, 731 Oct. 31. 8, 267, 578' 6,114, 041 2,989,683 3,124,358 2,153, 537 1,196, 019! 957,5181 821,257 65,991 5,826,481 1,758, 856 43, 541 213,749 I Nov. 7— „ 8,272,248 6,146, 8843,047,145 3,099,739 2,125, 364 1,194, 583! 930, 781 773,425 75, 8135, 769, 294! 1, 748, 831 29,273 249, 665 Nov. 14 8,159,049 6, 035,3132, 946, 124 3, 089,189 2,123, 736 1,178,099! 945, 637 771,395 70, 7915, 764, 657 \1,756,873 23,416 151,531 Nov. 21 8, 255, 624 6,151, 7643, 085, 675! 3, 066,089 2,103, 860 1,168,031 935, 829 781,084 67,108 5. 851,182' 1, 746,852 23,416 128,485 Nov. 28—. -J 8,381,322; 6, 246, 4603,192,419j 3,054,041 2,134, 862 1,174, 392! 960,470| 807,034 78, 2875, 919, 937 1, 743,464 17,470 271, 528 Dec. 5-_ 8,454,342j 6, 316, 5493,233,8341 3,082,715 2.137, 793 1,178, 392 959, 4011 787,323 71,374'i 5,983,4371 1,727,715 5,913 287,300 Dec. 12 I 8,293,792i 6,164,883 3,067,1231 3,097,760 2,128,909 1,177,154 951,755 839,738: 79,092; 5, 883, 616i 1,722,458 1.159 283,363 Dec. 19 8,340,180] 6, 201,0133,051,677 3,149,336 2,139,167 1,193,311 945,856 801,337. 91,866 5,826,693| 1,725,507 74,796 185,556 Dec. 26... 8,448,597 6, 305, 5593,160,088 3,145,471 2,143,038 1,193, 1111 949,927! 830,177 94,692 5,863,7471 1,735,682 58,871,342,946 26516—29- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

70 FEDERAL RESERVE BULLETIN JANUARY, J929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] PHILADELPHIA DISTRICT Loans and investments Borrow- Loans Investments Reserve Gov- ings with Cash Net Time ern- at Date Federal in demand deposits ment Fed- United reserve vault deposits de- eral Total i On ri t s i e e c s u- All other Total G S m o t v a e t e n e r t s n- se O cu th ri e ti r es bank posits s b e r a e r n v - k e securities 1927 Jan.5. 1,172,349 843,865', 454,95: 328,484 84, 224 244, 260 85, 85: 17,133! 779,043! 252,082 21,768 24,878 Jan.12.. 1,186,839 855,993! I 451,721 404, 272 330,846 85, 516 245, 330 86, 01< 17,028| 806, 7011 252, 616 17,034 9,474 Jan.19.. 1,174, 630 840,868 440,064 400,804 333, 762 89,199 244,563 87, 208 15, 552 794, 295, 251, 505 17, 036 10, 356 Jan. 26.. 1,165, 966 831,95L 429,959 401,992 334,015| 88,430 245, 585 78, 939 15,916 778, 520j 251, 246 17,036! 7,914 Feb. 2__ 1,163, 072 828, 52l! 428, 319 400,202 334, 551 88,323; 246, 228 84, 844 15,187 775, 4541 250,039! 17,036! 9,411 Feb. 9.. 1,163,006 826,198! 424,468 401,730 336,808 88, 327| 248, 481 81, 307i 16,165i 773, 820 248,009! 14,760 9,065 Feb. 16. 1,157,488 816,954i 422,438 394, 516 340,534 88,399 252,135 81,156 15, 521! 769, 853, 252, 742| 14,759 10, 503 Feb. 23. 1,162, 508 821,833; 427,186 394, 647 340,675| 86,953 253,722 82, 899 16,988: 778,126| 253,216 14,759 8,446 Mar. 2... 1,159,918 819,020! I 421,400 397, 620 340, 898! 86,5l 254, 353 80,192 15, 296, 770,9321: 252, 273 14, 7..',8 9,187 Mar. 9... 1,162, 599 820,90111 416,016 404,885 341, 698^ 254,789 82, 558 16, 285! 780, 421 j 252, 219 13,162 8,355 Mar. 16.. 1,192, 286! 822,060:! 416,305 405, 755 370, 2261 110, 391 i 259,835 82,991 14, 8931 783,018; 252, 038 39, 740 9,775 Mar. 23.. 1,192,075 819, 531 i 409, 576 409, 955 372, 544; 112,291 260,253 80,178 15,159; 765,694; 255,4691 35,766 19, 595 Mar. 30.. 1,193,028 818, 647 1 410,05: 408, 596 374,381, 115,951 258,430 72, 551 14,580! 758, 746, 256,636 35,373 23, 345 I Apr. 6... 1,192,028 825,062 411, 582 413, 480! 115, 070 251, 896 88, 422 14,472i 777,404; 263, 56832,938 10,731 Apr. 13.. 1,190, 779 827,617 411,796 415,821] 363,162: 111,739 251, 423 82, 349 17, 511| 776, 286: 261, 561 30,356 11,011 Apr. 20.. 1.178, 222 813,911 404, 251 409, 660: 364,31l| 112,509 251,802 84, 336 16,2511 771,814' 262,050 20,653 13,374 Apr. 27.. 1.179, 76r 815, 507. 405, 512 409,995| 364, 256: 109,852 254,404 78, 804 15, 386 766,867; 262,044 19,366 19,257 I May 4... 1,174, 597 813,175 404,820 408, 355 361, 422 109, 517 251, 905 85, 538 15, 228| 767, 481! 263,928 18,2071 11,502 May 11.. 1,177,539 815,978 399,689 416, 289 361, 56l!l 109,163 252, 398 78, 640 15, 7371 774, 080: 264,553 15,110| 11,611 May 18.. 1,173, 932 814,902 401, 597 413, 305! 359,030' 108,054 250, 976 82, 372 15, 3431 768, 432! 262, 111 11,219! 20,920 May 25.. 1,172, 835 812,895 402,428 410,467 359.940 107,114 252, 826 81, 360 15,194! 762, 553! 260, 921 10,677 16,993 June I... 1,171,983 817,410; 405,898 411, 512 354,573 100, 779 253, 794 78, 638 14, 848 757, 895! 259, 731 8, 64527, 845 June8__. 1,168, 569 828,021 417,166 410,855 340, 548 87, 7471 252, 801 86,101 15, 611j 774, 881i 259,915 5,186 13,894 June 15. 1,187, 2341 411, 78oi 414,508! 360.941 107,154 253, 787 84, 705 14,810 768, 544 260,827 2M19, 14,570 June22_ 1,179,927 817,031, 404, 686i 412,345| 362,896 107,802 255,094 79, 247 14,991 751, 663 261, 021 25,849 19,995 June 29. 1,189, 656 826, 348 413, 756 412, 592j 363,308 103,832 259,476 80, 866 15,496 758,434; 262, 799 21,094 29,478 July 6 1,190,092 831, 271 416,305 414,96oi 358,821 102,926 255,895 82,904 15,440j 777,349! 263,947 17,165; 20,447 July 13 1,176,873! 818,839 401,102 417, 737| 358, 034 102,834 255, 200 82, 548 15,454; 767, 213 263, 674 13,969; 17, 488 July 20 1,184,249: 820, 522 404, 555 415,967 363, 727 101, 209 262, 518 83,835 14,797 769, 831 262, 679 12,432! 15, 742 July 27 j 1,178,047] 816, 210; 395,909 420, 301 361, 837 99, 343 262,494i 78,103 15,2831 752, 622: 264,643! 12,432| 17,175 Aug. 3 1 1,178,468! 821, 314 399, 3351 421,979 357,154 94, 868 262, 286 82, 051 15,085 764,8001 264,709! 11,435! 18,398 Aug. 10 ! 1,195,330' 840, 241 419, 630; 420, 611 355,089j 91,055 264,034j 8C, 580 15,9971 786,037> 264,309! 6,859! 14,743 Aug. 17 ! 1,193,856li 839, 305 414,400 424,905 354, 551 89, 647 264,904i 83,967 15,394! 784, 879 265, 672! 5,247 15,375 Aug. 24 ! 1,179,873H 824, 209 403,680 420, 529 355, 664 87,023 268, 64H 83, 662 15, 587) 769, 678 261, 03l! 5,247 16,268 Aug. 31 ; 1,183,383!! 828,131 408,634! 419,497 355, 252! 86, 551 268, 7011 83, 748 15,960J 778, 5711 263,186! 5,247J 14,655 Sept. 7 | 1,189, 636 i 838,846 422,499! 416,347 350,790 84,164 266, 626 •84,476 16,403 785, 7901 261,008 j 1,046 i I 18,133 Sept. 14 I 1,197, 389 | 841, 748 422, 858| 418,890 355,641 88,410 267,231 j 82, 705 16.443 790,4311 264, 305; 1,0461 17, 354 Sept. 21 1,219,6531 842, 656 422, 265| 420,391 376,997 108,616 268, 381! 83,971 15, 615! 779, 699 266,174! 35, 632i 14,481 Sept. 28 1,220,881 842, 664 428,474J 414,190 378,217 109,128| 269,089: 82,090 15,740! 784, 704| 271,456' 35, 632! 14, 820 I I Oct. 5 j 1,226,384! 840, 777 424,828j 415,949 385, 607 117,0241 268, 583i 84, 303 15,410; 790,434: 273,472! 33,878; 12,211 Oct. 12 1,227,512 838, 361 417,515i 420,846 [ 389,151 117, 225i 271,926 85, 544 16.444 783, 799 273,685; 33,879; 15,244 Oct. 19 i 1,220,677; 836, 397 415,040| 421, 357j 384, 280;i 112, 685! 271, 595' 81, 857 16, 545 779, 362 272,791! 25,327i 16,749 Oct. 26 ! 1,216,088 832,986: 411, 636; 421, 350| 383,102 I 111, 562 271, 540: 16,663J 782,938 272,863; 19,504! 16,873 i Nov. 2-._ ! 1,209,113!! 829,892! 413, 640 416, 252; 379, 2211 103, 674 275, 547 80,670 15,679! 782,383 273,450i 17,927| 14,041 Nov. 9._._ l,198,221j! 822, 511 410, 988! 411,523! 375, 710! 97, 556: 278,154 78, 773 19,667i 778, 511 272,180, 11,965! 13,431 Nov. 16 1,216, 669! [ 822, 319 411,117j 411,202; 394, 250! 114, 518i 279, 732 89,154 17,401 784,968 293,569; 25,982, 13,568 Nov.. 23 i 1,210,746" 821, 357: 405,969' 415, 388! 389, 389! 110,558! 278, 831! 82, 097 19, 543 781,845 297,468; 9,761! 12,224 Nov. 30 1 1,216,721 828,497 417, 469| 411,028" 388,224| 107, 702' 280, 522 86,358 17, 910! 794,090 295,0811 974 17,973 Dec. 7 j 1,200,1 819, 850: 423, 365; 396,485! 380,958:1 107,186 273, 772 79,453 18,9121 783, 202 278,8971 489 12,751 Dec. 14 1 1,203,573!! 816,819 422,097i 394, 722! 386, 76411 108,197J 278, 557 80, 837 21,496j 781,922 282,603; 487i 20,129 Dec. 21.__ j l,203,605j! 806, 226! 419,827| 386,399; 397,379,! 118, 885 j 278,494 80,433 21, 536| 752,995 284,516 16,607; 26,230 Dec. 28 1 1,223,675)1 826,05oi 437,8421 388, 213i 397, 620JS 118, 772! 278, 848 84,851 19,"832i 773, 567 286,040| 16,607! 31,825 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

71 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] PHILADELPHIA DISTRICT—Continued Loans and investments Borrow- Loans Investments Reserve Gov- ings with Cash Net ern- at Date Federal in demand Time ment Fed- United reserve vault deposits deposits de- eral Total Total O r n it s ie ec s u- All other Total G S o m t v e a e n t r e t n s - se O c t ur h i e t r i - es bank I posits s b e r a e r n - v k e securities 1928 j i Jan. 4 ! 1,232,1101 840,759 i 445, 532 395, 227 391, 351 117,932 273,419 82,971 17,333 784, 510 295, 591 14, 21437,497 Jan. 11 | 1, 242,973J 837,198! 442, 421 394, 777 405, 775 128, 793 276,982 86, 674 16,502 807,925 293,193 10, 74921,182 Jan. 18.. I 1,231,848; 828, 738! 437.137 391, 601 403,110 128, 252 274, 858 85, 565 15,065 794,927 295,067 7,736 17,006 Jan. 25 ! 1,204,205 417, 042 389,954 397, 209 127, 668 269, 541 83,662 14,601 770,190 299,124 6,962 9,583 Feb. 1 i 1,214,757 814, 838; 431, 928 382,911 399, 919 130, 612 269, 307 82, 200 14,344 767, 443 300,119 6, 608 26, 260 Feb. 8 I 1,223,294 823,073 433,033 390,040! 400, 221 130, 211 270,010 80,473 14,130 772,449 297,927 3, 720 25,876 Feb. 15 I 1,211,178 812, 769 i 418,922 393, 847 398,409 128, 745 269,664 81,488 14,460 756,483 294,687| 3,016 38, 724 Feb. 21 ; 1.210,322 812,014 418, 351 393, 663 128,436 269, 872 83,016 14, 766 757,455 296,0481 3,016 32, 598 Feb. 29 1,211,4581 814, 470: 421. 956 392, 514 396,988| 126, 363 270,625 81, 283 14, 286 758,114 291,717! 3,016 39, 213 Mar. 7— 1, 209, 8101 818, 673! 419, 017 399, 656 391,137| 120, 375 270, 762 81,394 13, 973 771,892 289,666 904 22,603 Mar. 14.. 1,211,119i 825, 628 425,141 400, 487 385,491, 115, 250 270, 241 81, 209 14, 508 763,430 287,983 903 31,731 M M a a r r . . 2 21 8 . - . 1 1 , , 2 2 1 2 7 1 , , 1 22 1 6 1 ; ! 8 8 3 3 0 5 , , 8 4 7 4 5 5 ; : 4 4 2 3 9 8 , , 1 0 0 5 2 6 4 3 0 9 1 7 , , 7 3 7 8 3 9 3 38 8 5 6, , 7 2 8 3 1 6 1 1 11 1 5 5 , , 1 5 0 5 2 2 2 2 6 7 9 1 , , 6 6 8 7 4 9 84,162 1 1 4 4 , , 2 6 8 7 0 4 7 78 6 6 2 , , 1 2 8 6 9 4 2 2 9 8 5 7 , , 1 9 4 7 0 " 0 ] I 1 1 5 5 , , 7 7 7 7 2 2 2 2 3 5 , , 3 4 7 9 6 7 Apr. 4._. 1,231,952i 847, 283 444, 579 402, 704 384, 669 114,860 269,809 83,893 15, 245 779,178 292,978 15,139 25,200 A A A p p p r r r . . . 1 2 1 1 5 8 . . . . . . 1 1 1 , , , 2 2 2 4 4 1 6 0 9 , , , 9 1 7 8 7 5 1 9 5 8 8 8 5 5 3 9 2 2 , , , 8 8 79 5 3 7 3 4 i | 1 4 4 4 4 4 2 9 5 8 , , , 0 9 5 0 6 0 7 9 2 4 4 4 0 0 0 9 4 7 , , , 8 3 8 4 3 2 6 2 8 3 3 3 8 8 8 6 6 8, , , 1 3 9 4 2 5 7 6 8 ! 1 ! 1 1 1 1 1 1 6 5 6 , , , 0 4 0 1 5 1 7 1 4 2 2 2 7 7 7 0 0 2 , , , 1 8 9 3 7 4 0 5 4 8 8 82 5 4 , , , 1 4 9 2 6 4 8 7 0 1 1 13 4 5 , , , 5 9 2 7 7 1 5 1 4 7 7 7 8 8 6 6 5 4 , , , 2 2 7 3 8 3 6 6 6 2 2 29 9 9 3 6 6 , , , 3 8 7 7 4 6 3 9 2 1 ! 1 9 6 2 , , , 3 4 9 2 6 5 6 3 1 2 3 2 8 2 5 , , , 9 6 9 6 0 4 9 7 9 May 2... 1, 226, 616! 844, 498! 422, 889 421,609 382,118! 113,051 269,067 85, 983 13,317 772, 518 299, 980 5, 917 32, 729 May9... 1, 233, 368, 850, 582 428,964 421,618 382, 786| 113,855 268,931 83, 342 14,418 778,062 299,872! 3,945 23,916 May 16.. 1, 234,928 856, 726' 437,491 419, 235 378, 202j 109, 388 268, 814 82, 286 14, 231 776,105 302,5761 2,724 31,320 May 23.. 1,240,04li 862, 686: 447,113 415, 573 377,355; 109, 245 268,110 80, 792 14, 370 769,051 308, 206! 1,930 29, 314 May 29.. 1, 244, 594| 867, 2071 449, 989 417, 218 377, 387 109,160 268, 227 84,476 14,463 759, 591 309,208 l,r~ 53, 649 June 6___ 1, 244. 333, 870,0641 454, 286 415,778 374. 269 109,857 264,412 85,236 13,865 769,481 3J0,927j 33,964 June 13— 1, 247, 8441 876, 590 455,317 421,273 371,254 107,955 263, 299 82, 748 14,200 763, 419 320, 744j 34,616 June 20_- 1, 245, 373 871,110 450, 524 420, 586 374,263 109,766 264, 497 78,417 13,673 726,999 312,039 9,361 53,825 June27_. 1,244, 601 876,057| 457,757 418,300 368,544 107,606 260,938 78,587 13,574 723,217 313,842 8,984 65,170 July3._ 1, 251, 821! 883, 217' 461, 392 421,825 368,604 112, 917 255,687 83, 784 13,815 741,960 313,767 7,222 72,868 July 11. 1, 254,666, 883, 230 456, 947 426, 283 371,4361 113, 270 258,166 82,676 14, 599 751, 506 312, 325 5,418 53, 523 July 18. 1, 241, 814| 876, 086! 456, 084 420,002 365,728 112,080 253,648 80,857 13,910 732,290 304,603 4,270 62,384 July 25. 1, 226,112! 866,619 447, 790 418,829 359,493 107, 787 251,706 77,697 13,833 721,602 306,305 3,160 55,708 Aug. 1 1, 248,950 872,867 454,425 418,442 376,083! 124, 563 251, 520 76,883 12,619 716,137 308,787) 24,242 64,475 Aug. 8. ..- 1, 251,453| 456, 231 422,463 372, 759| 122, 537 250,222 77,295 13,627 715, 583 306,2601 22,092 60,425 Aug. 15 1, 248,954 i 877, 305, 453, 541 423, 764 371,649 121, 208 250,441 78,765 13,426 710, 225 306,657' 21,617 68, 301 Aug. 22 1, 245, 2861 874, 672 453, 777 420, 895 370, 614 120,464 250,150 78,360 13,624 705, 641 305,7071 17,993 68,808 Aug. 29 1, 243, 705 873, 5831 452, 432 421,151 370,122! 122,097 248, 025 76,438 13, 230 707,202 302,883! 14,374 74,029 Sept. 5_. 1, 245,922' 878, 736*1 453, 558 425,1781 367,186! 121,008 246,178 77, 539 13, 574 717,954 301,450i 11,521 74,089 Sept. 12_ 1, 245, 988i 881,067i 450, 629 430, 438! 364, 921! 119, 722 245,199 77,855 13, 779 721, 555 299,880l 8,194 74,172 Sept. 19. 1, 247, 2031 878,176' 455,154 423, 022i 369,027i 121, 006 248, 021 75, 561 13,655 714,668 296,324! 10,790 75,843 Sept. 26.. 1, 242, 399j 876,709,1 450, 532 426,177) 365, 690, 119, 282 246,408 76, 374 13, 081 707,040 294,044J 8,641" 78,154 Oct. 3 i 1,242,524! 879,6l4Ji 450, 931 428,683^ 362, 910! 119, 341 243, 569 80, 604 13, 875 723,198 296,819' 4,814 75,472 O O O O c c c c t t t t . . . . 3 2 1 1 4 0 7 1 _ _ _ - __ _ _ . _ I i | I 1 1 1 1 , , , , 2 2 2 2 3 2 3 3 3 4 7 4 , , , , 5 2 7 4 0 3 8 5 3 5 0 7 8 8 8 8 7 7 6 7 6 7 2 7 , , , , 6 1 2 7 0 1 9 5 l 8 6 3 i ! | I j I 4 4 4 4 5 4 5 5 2 6 0 3 , , . , 1 4 8 3 3 1 3 9 8 2 3 4 4 4 4 4 2 2 2 2 4 2 0 3 , , , , 4 6 2 7 2 5 0 0 0 8 6 7 1 | 3 3 3 3 6 5 6 5 1 6 0 7 , , , , 6 3 5 6 6 2 8 3 1 7 5 4 , ; 1 1 1 1 1 1 1 1 9 5 7 6 , , , , 9 1 2 4 1 0 2 8 1 6 6 8 2 2 2 2 4 4 4 4 1 2 2 0 , , , , 6 8 4 5 1 9 3 2 . 6 7 8 c 7 7 7 7 8 8 8 7 , , , , 4 7 4 0 5 2 4 0 2 7 6 6 1 1 1 1 4 4 5 4 , , , , 1 8 5 8 1 6 8 6 5 7 3 3 7 7 7 7 1 2 2 1 5 4 1 8 , , , , 4 7 6 5 9 0 7 1 5 9 0 0 2 2 2 2 9 9 9 9 3 1 5 5 , , , , 6 3 9 0 1 7 1 1 0 5 4 1 ; ' 1 1 1 3 1 4 0 , , , , 1 7 0 4 8 7 3 8 9 9 8 6 7 5 5 5 7 3 6 0 , , , , 3 8 5 5 1 7 6 4 0 8 3 1 Nov. 7 ; 1,228,586 876,652 1 449,123 427, 529 351, 934 113, 629 238,305 78, 670 15,403 729, 268 294,484| 7,04" 51,276 Nov. 14. _ I 1,229,387 879,086; I 449, 681 429,405 350,301 112, 352 237,949 79, 030 17,113 726,073 292,340 5, 639 60,475 Nov. 21 1,217,888, 870,862i 449, 601 421, 261 347, 0261 108, 626 238, 400 78,546 15,467 729, 239 296, 234 5,640 42,129 Nov. 28 1,225,966 877,331! I 459, 948 417, 383j 348,635 108, 394 240,241 77,862 18,122 723, 368 297, 2651 4, 231 45,515 Dec. 5 1,225,834 877,827'! 464,970 412, 857 348,007 108,055 239,952 80,073 16,893 728,117 292,703, 1,427 45,817 Dec. 12 j 1,227,088 881,580! 467,085 414,495! 345, 508J 104,019 241,489 77, 857 18,889 723,684 288,209! 287 56, 301 Dec. 19 I 1,236,814! 885,982 1 471, 872 414,110 350,832; 111,905 238,92' 77,153 20, 599 714,081 292,233! 14,48£ 60,786 Dec. 26. -._i 1,237,938; 885,334!; 473, 670 411,664 352,604 113, 572 239,032 79,683 19, 792 717, 715 295,066 11,592 57, 511 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

72- FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] CLEVELAND DISTRICT Loans and investments Borrow- Loans Investments I Reserve; Gov- ings with ! Cash Net ern- at Date I r F e e s d e e rv ra e l ! ! vau in lts d de e p m o a s n it d s de T p i o m s e its m d e e n - t F e e ra d l - Total bank posits re- Total U- Allother Total Other serve rities securities bank 1927 Jan. 5. 1,981,800 1, 373, 744 583,192 790, 552 608, 056 i! 254,735; 353,321 120,181 33,665 1, 010,946 824,644 12,508 52, 619 Jan. 12-. 1, 975,942 1,364,307! 573, 223 791,084 611,635! 259,915 351,720 125,754 32,622 1,008,773 822, 441 9, 681 51,111 Jan. 19.. 1, 973,758 1,363,085! 575, 024 788, 061 610, 673 ; 260, 280 350,393 125, 223 30,924 1, 015,856 818,910! 9, 610 40,580 Jan. 26.. 1,974,756 1,364, 646 578,024 786, 622 610,110 j 259,620 350,490! 125,551 29, 269 1,025, 293 823, 245 9, 675 34,708 Feb. 2_. 1,954,833 1,342,949 571,867 771, 082 611,884!^ 260,314 351,570 152, 402 29,411 1,032,306 833, 232 10,176 36,921 Feb. 9__ 1,972,1771 1,355,968 581, 515 774,4'53 616,2091; 261,952 354, 257 131,3081 31,202 1,023,622 830, 285 8,314 33, 622 Feb.16. 1,965,235 1,348,898! 561,65" 787, 241 616,337!! 262,934 353. 403 127,453! 29,041:' 1,024,402 827,983 8,314 Feb.23. 1,973,250 1, 355, 532' 573,387 782,145 617,718|! 262,446 355, 272: 126,173 32,869; 1,028,861 825,348 8,302 29.857 Mar. 2 1,994,349 1,357, 282 578,823 778, 459 637, 067j: 269, 590 367, 4771147, 478' 28,121! 1,019,539! 892,028 7,854 22, 707 Mar. 9 2,015,8081 1,371, 517i 592,461 779,056 644,291'' 271, 237 373,054| 129,3141 31,286! 1, 016,380j 898,931 7,355 17, 737 Mar. 16 2,050,257 l,380,449i 602, 884 777, 565 669,808:! 287, 757 382,051! 140, 222! 28,805! 1,086,086 845,435 27,442 25,436 Mar. 23 I 2.052,3581 1,379,1"- 597,953 781,127 673,278' 287, 401 385, 877! 137,241! 30,421' 1,087,736! 848, 675 25, 398 24, 555 Mar. 30. 2,074,989 1, 402, 612 601, 996 800, 616 672,377! • 287,4111 384,966i 132,839i 29, 558| 1,102,365j 852,187 23,948 21,313 Apr. 6... 2,074,724 1,413,721 603,740 809,981 661,003 282,739| 378,264! 136,182 28,369} 1,093,164; 852, 504 22, 290 32, 545 Apr. 13 _. 2,028,306 1,383,.°'" 601, 935! 781, 910 644, 461 276, 899 367,5621 120,406 30,205! 1,049,637! 841,307 20,499 37.858 Apr. 20.. 2, 026, 281 ! 1,386, 607,759| 778, 671 639, 851 i: 274,175! 365,676! 126,077! 29, 927J 1,046,745 846, 503 13, 256 38, 984 Apr. 27.. 2,061,474! 1,417,550 637, 03 2i 780, 518 643,924| 272,684 371,240 130,392j 29,181 • 1,033,070; 901, 254 13, 082 36,137 May 4-. 2,070,593 M 1,425,736 786, 547 644, 8571 i 271,132| 373,725j 139,550 29,117. 1,051,681: 906, 897 12,317 34, 803 May 11.. 2,071, 686|| 1,427,125 637,331 789, 794 644,561; 271, 405i 373,156; 131,547 29,550 1,049,810 803,316 10, 204 32,236 M M a a y y 1 2 8 5 _ . . . 2 2, , 0 0 8 8 1 1, , 4 7 4 86 0 1 !j j 1 1 , , 4 4 3 3 3 1 , , 4 8 8 6 7 8 6 6 4 4 2 2 , , 9 9 5 1 3 9 7 7 9 8 0 8 , , 9 5 4 3 9 4 6 64 4 7 9 , , 9 9 1 5 8 3 ' ji 2 26 7 9 0 , , 6 0 2 0 2 5 J j 3 38 7 0 7 , , 9 2 4 9 8 6 ! | 1 1 3 3 7 2 , , 8 5 1 48 6 J s 2 2 9 8 , , 6 3 2 3 7 2 ! : 1 1 , , 0 0 5 4 1 8 , , 4 4 5 6 5 0 : ; 9 9 1 1 0 0 , , 4 54 3 0 5 6 7 , , 1 6 3 3 2 0 3 4 8 0 , , 5 7 2 0 1 4 June l-_. 2,090,1011; 1,430,757 643, 544j 787, 213 659,344! 265, 501 393,843! 131,132; 28, 742; 1,066,451; 913, 679 5,803 36, 738 June 8... 2,080,606M 1,432,205 643, 772 788,433 648, 401 j' 261, 703 386,698! 138,287i 31,470; 1,090, 225 i 865, 781 3,474 48, 250 June 15_. 2, 092,953 !i 1,423,689 641, 257| 782, 432 669,264' 279, 428 389,836 140,785 29, 372' 1,109, 982 868, 010 21, 985 47, 043 June 22.. 2, 080,361 j I 1,417,269 638, 910! 778.359 663,092! 276, 855 386,237 133,077! 30, 433 i1,089,057; 866, 844 21,17 21, 644 June 29_. 2, 053, 735 j 1,389,356 608, 836 780, 520 664, 379•! 285,147 379,232 128,947! 30, 00411, 040, 390 871, 759 17, 766 33,328 I July 6... 2,043,1781 1,380,243 598, 094; 782,149 662, 93o! 279,611 383, 324136, 740! 30, 5601 1, 054, 036 867, 617 14, 504 33, 595 July 13.. 2,056.10511 1,394,555 618,187 776, 368 661,550, 280, 962 380, 588132, 642, 31,082! 1, 051, 018 890, 059 11, 800 28, 617 July 20-. 2,071, 6941 i 1,409,720 621, 347 788, 373 661,974;; 282, 273 379,701 127,169! 29,952! 1, 064, 362i 888, 302 10, 512 20,049 July 27.. 2,084, 605, i 1,408,065 608, 644j 799, 421 676, 540j, 295, 746 380, 794127, 985; 29, 596j 1, 068, 062; 896, 993 10, 536 21, 954 Aug. 3__ .I 2,075,436! 1,412,728 606, 9771 805, 751 662, 70S; 287, 846 374, 862136, 591 27, 752, 1, 057,095! 900, 7071 9, 68330, 799 Aug. 10.. 079, 395 1,409,137 603, 2091 805,928 670, 258' i 293, 329| 376,929 130, 558| 28, 976! 1, 062, 223: 902, 537 5, 83425,127 Aug. 17.. 2,087, 296 1, 416, 766 609, 650| 807,116 670,530; 292,404 378,126 132, 229! 29,118! 1,068, 274; 905, 800 4,506 18, 520 Aug. 24.. 2, 083, 669 1, 414,020 613,185 800, 835 669,649!, 292, 279| 377,370! 133,140! 30, 365! l,061,985: 909,138 4,506 19, 617 Aug. 31-. 2,080,119 1,408, 7" " 606, 537 802, 249 671,333. 291, 527 379,806 128,602' 28, 342, 1,058, 814 909, 811 4,491 19, 374 Sept. 7— 2,075,418j 1,409,252 611, 659 797, 593 666,166; i 289, 859 376, 307 120, 378! 31,426 1,054,9721 912, 564 900 19,979 Sept. 14.. 2,083, 840 1,418,283 615,952! 802, 331 665, 557! 289,396 376,161 131, 294' 31,241; 1,053,142, 925, 527 900 30,793 Sept. 21.. 2,109, 317 1,429, 855 629, 869| 799,986 679,462^ 301, 353 378,109 134, 316 30,216 1,037,728! 926,408 25,473| 33,627 Sept. 28.. 2,117,228 1,426, 268 625, 799| 800,469 690,9601 308,070 382,890 126,171: 30,155! l,039,977i 924, 70425,460! 26,297 Oct. 5__. 2,110,377!' 1,415,560 617,465: 798,095 694,817;, 310, 850 383,967 130,473 29,829! 1,026,467s 920, 22823,147| 32,758 Oct. 12_ _ 2,116,084 j 1,419,516 619,976 799, 540 696, 568.; 314,090 382,478! 131,532, 30,117' l,042,573i 917,439 24,083! 43,538 Oct. 19-_ 2,116,60!" 1',420, 245 617,135 803,110 696, 363' 311,3561 385,007! 127,099 31,663, 1,040,879: 918,106 17,988| 31,838 Oct. 26. _ 2,091,96! 1,407,337 631,850, 775,487 684,625;; 309,081 375,544j 119,177, 30, 42ll l,035,446| 911,490 13,872i 18,940 Nov. 2... 2,070,155!! 1,377,670 603,896 773, 774 692,485!i 308,956'i 383,529' 125,120 29,957! 1,032,411! 879,100 12,777 31,322 Nov. 9— 2,075, 668! j 1,381,471 608,137 773, 334 694,197, 307,3261 386,8711 127, 380^ 33,064! 1,037,135! 888,417 8,617] 42,801 Nov. 16- 2,085,267!: 1,374,875: 599, 840i 775, 035 710,392'! 324, 902! 385,490: 143,736: 30,576 1,052,867! 893, 77224,997 38, 608 Nov. 23.. 2,092,514:! 1,386,584 615,083J 771, 501 705,930: 319, 554J 386,376| 125,425 32,459 l,069,820: 896, 632 9,063 25, 872 Nov. 30- 2,087, 630 | 1,381,341 608, 570 772, 771 706, 289;; 318,986| 387,3031 132, 647, 32, 674| 1,078,281! 894,167 875 28, 725 Dec. 7- 2,093,237| 1,395,418 618, 757 776, 661 697,819'! 310, 7931 387,026, 138,0561 35,374! 1,075,919! 445 33,838 Dec. 14. 2,091, 668 j 1,397, 271! 623, 677 773, 594 694,397!! 305, 774! 388,623! 134,442 37, 406j 1,079,204; 887,839 445) 45,356 Dec. 21. 2,105,9521: 1,397,838: 630,983 766, 855 708,114!' 315, 671j 392,443; 123,787: 39,637! 1,051,3861 880, 572 19, 216| 62,959 Dec. 28. 2, 090, 043!! 1,382,596 618, 610 763, 986 707,447;i 312, 587i 394,860! 128,526: 36,7631 l,039,063! 882,4391 19, 216; 58,018 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

73 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued ^ [In thousands of dollars. For total for all districts see Table No. 2] CLEVELAND DISTRICT—Continued Loans and investments i Borrow- Loans ; Investments Reserve Gov- ings Date United F re e w s d e i e t r h r v a e l ! jv C a i a n u s l h t d d e e N p m o e a s t n it d s de T p im os e its m e d r e e n n - - t F e a e ra t d l - Total j! Total j O r n i t s ie e s cu- All other Total G S o t v a e te rn s - Other bank j i posits se re rv - e ment securitie; bank securities 1928 Jan. 4_. 2,094,6831 l,38G,011| 623,822 762,189 708,672'! 311,592; 397,080 122,204 33,200; 1,046,611 890,395! 16,556; 56,315 Jan. 11. 2,097,765 1,389,622. 627,4941 762,128 708,143| 314,258! 393,885 131,935 33,112' 1,064,641 891,155 12,519; 41,222 J„a n. 18.. 2,097,792 1,394, 9771 635,699 759, 278J 702,8151 313,344j 389,471 129, 951 30,120; 1,062,254 893,169 9,011! 40,391 Jan. 25 2,090,955: 1,388,259 631,552| 756, 707; 702,696; 317,065- 385,631 130, 763 30,174j 1,072,520 900,410 8,109, 25,253 I Feb. 1_. 2,107,633M1 1,404,043,! 646,339 757, 704! 703,590 318, 679; 384, 911 130,429; 28,212; 1,074,402 908,654 7,702' 24,766 Feb. 8 2,129,317j! 1,425,323;! 657, 570 767, 753! 703,99411 317, 776 386,218 127,942 29,952j 1,065,327 918,218 4,329! 35,838 F F F Tre e e t'b b b K. . . 2 2 11T 9 1 5. i I I O 2 2 2 , , , 1 1 1T 3 O 3 3O 7 5 2 , , , 1 O2 3 8 H 7 91 5 3 1 j ' ' ; i ,i | 11 1 1 , , , 4 4 4 A2C 2 3 \6i 9 0 \ , , , 4 0 A 2 3 7 3 O5 3 6 ci ' ii j ' 1 6 6 6 6 6 6 2 5 1 . , , . 5 2 2 4 6 4 6 4 2 7 7 7 6 6 6 3 7 5 , , , 8 1 6 3 8 7 1 9 2 j ! | 7 7 7 0 0 0 5 6 7 , , , 8 1 1 5 3 1 6 2 7 ! ! ! ! I 3 3 3 1 1 2 9 6 0 , , . 4 3 8 1 2 4 6 0 5 ) ; 3 3 3 9 8 8 0 6 5 , , , 7 0 7 2 1 9 1 1 2 1 1 1 3 2 2 5 5 9 , , , 4 7 0 3 4 6 3 6 3 1 2 2 2 7 8 8, , , 7 9 2 9 9 8 4 4 2 1 ! : 1 1 1 , , , 0 0 0 4 5 6 1 3 7 , , , 2 4 3 8 8 3 4 9 8 9 9 9 4 2 2 0 8 4 , , , 1 2 5 1 2 4 7 2 8 3 3 3 , , , 4 4 4 9 9 9 9 9 9 ; ; ' 3 4 5 7 5 6 , , , 3 6 9 0 2 2 4 3 9 Mar. 7... 2,137,235 i l,438,34fj! 661, 331 777,015! 698,889! I 309, 388 389,501 128,880 30,000! 1,038,185 947, 537 1,046! 45,030 Mar. 14.. 2,133,623,! 1,431,744! 652,971 778, 773| 701,879!i, 309, 682 392,197! 125,7171 29,730 1,032,273 953,102 1,056. 43,833 Mar. 21.. 2,165, 967; | l,434,077:! 656,683 777,394 731,890!! 323,454 408,436 127,138! 30,063 1,025,850 967, 502 20,682i 46,447 Mar. 28.. 2,171,602j 1,432,806,, 655,910 776,896! 738, 796 333,031 405,765 129,385 28,604, 1,032,036 966, 751 20,682 41,998 Apr. 4__. 2,189,1821! 1,455, 690'i 668,225 787,465'> 733,492 330,189i 403,303 130,180 28,248 1,067,335 19,864 39,466 Apr. 11 _. 2,184,826'! 1,463, 017, i 675,913 787,1041 721,809 326,233! 395,576! 131,594 29,776 1,059,329 16,996 53,775 Apr. 18.. 2,177, 521 jj 1,457,309 I 675,407 781, 932 720,152! 325,626! 394,520 135,231 28,625 1,057,942 12,174| 46,484 Apr. 25.. 2,176, 535|i 1,451,126;! 675,033 776,093 725,409 326,621 398,788 134,225 29,286 1,059,263 8,475 45,585 May 2... 2,186,628!' 1,455,961 jl 669,105 786, 856 730, 667 328,443 28,647 1,059,858 964,401 7,881 51,701 May 9... 2,187,772'! 1,453,918! 670,009 783, 9091 733,854 327,045 30, 833 1,082,146 965, 983 5,164; 55,417 May 16.. 2,196,31211 1,459, 995'i 675,818 784,1771 736, 317 329,465 28,199 1,079,826 964,828 3,622 47,410 May 23.. 2,198,030:! 1,467,309 i 683, 970 783,3391 730, 721 323, 816 30,249 1,077,755 962,998 2, 531 57,634 May 29.. 2,190,224| I 1,455, 245 i 675,021 780,224 734,979 325,251 134,060 28,540 1,070,379 957,909 2,531 58, 773 June6__. 2,207,199;: 1,468,356! 683, 761 784, 595 738,843 326.846 411,997 131,467} 956, 939 June 13.. 2,194,243:! 1,459,353 ' 671, 992 787, 3611 734,890 323,493 411,397 130, 585 958, 974 June 20.. 2,192,4731, 1,462, 682'! 679, 474 783, 208 729, 791 319,658 410,133 129, 925 958,044 13, 327 June 27.. 2,197,185j! 1,471,101 j; 686, 315 784, 786 726,084 316,0301 410,054 127,663 958, 641 12, 796 July 3... 2,226,9041' 1,485,235' 704,440 780, 795, 741,669 317,196 1, 039. 747 978, 359 10, 293 July 11.. 2,219,964;! 1,483, 097; i 692, 576 790,52l! 736, 867 318, 2001 1,039, 531 980,632 July 18. . 2,207,648!i 1,476,190l! 686, 382 789,808| 731,458 316, 767 1, 039,442 975, 243 July 25.. 2, 211,328! j 1,483,596! 691, 330 792, 266; 727, 732 316,4261 1, 036, 363 976,789! 4,4 Aug. 1... 2, 225,435! | 1,483, 202'j 685, 942 797, 260! 742, 233 411,008 130,362 1, 045, 303] 979,518 24,271 72, 061 Aug. 8... 2,198, 732 i 1,468,744'! 672, 089 796,6551 729,988 404,4271 125,176 1, 022, 960 975, 844 20, 723 69,962 Aug. 15.. 2, 200, 954 : 1, 469, 367i' 670, 359 799, 008i 731, 587 406, 603 127, 614 1, 033,160 980, 385 20, 724 63,460 Aug. 22.. 2, 193, 915 i 1,461, 419'' 665, 735 795. 684 732,496 408,614 1, 036, 929 979, 327 17, 002 52, 854 Aug. 29.. 2,198,985: 1,472,076 679,127 792, 949| 726, 909 403, 372 1, 034, 324 977,473 13, 588 j64, 984 Sept. 5_. 2,186,482I: 1,469, 3491. 667,493 801, 85o! 717,133 321, 820 395, 313 129,653 1, 044, 424 961, 00l!10, 872!59, 860 Sept. 12.. 2,184,349.' 1,473,6481! 670,086 803, 562| 710, 701 319, 871 390,830 130, 743 ,013,795 961,947! 7, 749!71, 067 Sept. 19.. 2,188,702! 1,467,499! 660,015 807, 484 i 721, 203 332,114 389, 089 133, 575) L, 046, 734 964, 430!17,00l!55, 471 Sept. 26.. 2,182,272; 1,463, 382! i 665,120 798, 2G2j 718, 890 330, 593 388, 297 133, 082 ., 051, 053 964, 098!13, 604 56, 007 Oct. 3__ 2,193, 727 I1,480,660;! 660, 984 819,676! 713, 067 382, 372 063,479 962,187 8,077 56,119 Oct. 10. 2,190,208'! 1,480,296! 659,496 820,800: 709, 912 379, 564 056, 685 956, 523 5,299 63,115 Oct. 17. 2,194,699!' 1, 469, 803! 650,146 819, 657| 724,896 382, 960 058, 749 955, 588 16, 454 61, 262 Oct. 24. 2,186, 798: 1,469,282|! 652, 262 817,020 717, 516 377,305 038,949 953, 538 12,112 63,106 Oct. 31. 2,196,973! 1,479,882! | 656,840 823,042| 717,091 376,184 047, 910 962,569 11,513 56,283 Nov. 7— 2,185,506'! 1,478,231! 659,097 819,134| 707, 275. 334,124 373,151 130,160! 31,034 ., 031,875 958,018 7,836 70,042 Nov. 14.. 2,186,070 1,477,967! 654,859 823,108J 708,103 334,887 373, 216 131,291; 31,511 ., 041,494 956, 287 6,265 79,422 Nov. 21.. 2,188, 403; 1 1,483,4381 665,973 817,465! 705,025 333,106 371,919 125,912) 30,238 , 041,094 957,379 6,184 66,496 Nov. 28-. 2,189,145!! 1,484,616 678,477 806,139! 704, 529 333,433 371,096 124, 590| 31,419 , 031,641 957, 958 4,701 80,157 Dec. 5. 2,181,449, 1,475,811 805,8181 705, 638 332,634 373,004 132,432! 32, 834 034, 318 959,151 1,614 74, 280 Dec. 12.. 2,198,396' 1, 494,494 810, 608] 703,902 331, 384 372, 518 124,615 35. 548 031, 586 952,690 320 104,025 Dec. 19.. , 2,198,636, 1,487,6251 672,940 814,685! 711,011 337, 763 373, 248 116, 7681 39,603 020, 038 948. 793 24. 63883, 035 Dec. 26 2,183,573! 1,470, 5461 667,312 803,2341 713,027! 337, 531 375,496 129,180' 37, 018 014, 933 950,192 19,044 97, 668 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

74 FEDERAL RESERVE BULLETIN JANUARY, 192 9 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] RICHMOND DISTRICT Loans and investments Bor- I row- Loans Investments Reserve Gov- ings with I Cash Net ern- at Date Total Total O r n i t s i e e c s u- All other Total G U S m o n t v a e i t e t n e e r t s n d - se O cu th ri e t r i - es F re e b s d a e n e rv k ra e l va in ult d de e p m o a s n it d s i | ^ doe T Prk i n° m Qs1l e- tsfQ p m o d e s e n i - t t s s b F e e r a e r r e n a d v - l k - e securities 1927 Jan. 5_. 641,415 507, 750; 156,811 350.939 133,665! 64,798 68,867 43,929 15,154 384,000 210,143 4,326 10,288 Jan. 12-. 650.125' 517, 291 158,524 358, 767, 132, 834: 63,037; 69,797 41, 373 i 14,844 392,966 211.895J 3,443 6,310 J J a a n n . . 2 1 6 9. . . . 6 6 5 6 0 1 , , 3 4 0 5 0 3 5 5 2 1 5 6 , , 9 8 2 4 7 9 1 1 5 6 5 1 , , 8 7 6 8 4 2 3 3 6 6 4 1 , , 0 0 6 6 7 3 1 1 3 3 3 5 , , 6 3 0 7 4 3 ; ; 6 6 5 6 , , 0 2 7 10 8 ; ! 6 69 8 , ,3 2 9 9 4 5 4 41 1 , , 9 0 9 77 0. 1 1 4 3 , , 4 81 5 0 0 3 3 9 9 2 2 , , 9 4 5 9 4 8 2 21 1 4 2 , ,1 6 4 6 3 21 3 3, , 4 4 6 4 1 3 6 8 , , 2 1 1 0 7 6 i Feb. 2._ 654.331; 518, 860 159, 668 359,192 135, 471 65,646; 69, 825 43, 246! 13, 271 384,916 212, 125 3,443 9,736 Feb. 9__ 656, 292 518,674 155,776 362, 898 137, 618j 67,658: 69, 960 39,374| 13,686 384, 988 219,122 3,024 9,748 Feb. 16. 654, 665 515, 7781 157, 111 358,667| 138,887' 67,853; 71, 034 44,160 12, 793 388,316 213, 944| 3,028 13,109 Feb. 23. 658,403 520, 736 157,131 363,605| 137,667 i 65,3371 72,330 42,156 15,720 384, 269 214,114; 2,875 10,680 Mar. 2... 656,877 515,967 156,825 359,142! 140,910, 68,552: 72,358 42,400! 12,829 386, 459 213,948* 3,201 11, 891 Mar. 9— 655, 528 514, 929: 156, 327 358, 602j 140, 599 68, 353! 72, 246 41, 847j 13,839 379,938 214, 489' 2,653 10,844 Mar. 16_. 664, 262 517,4361 157, 974 359, 462i 146, 826! 74, 772 72. 054 42, 4431 13,121 384. 327 214, 288 12, 265 7,966 Mar. 23.. 659,483 516, 359| 157, 575| 358, 784 143,124 71, 056 72, 068 41, 732: 13, 685 377, 886 214, 904' 11,749 8,512 Mar. 30.. 658,383 • 515,400 156,897 358, 503 142,983 71,071 71,912 41,499i 13, 618 376, 671 216, 013| 11, 395 7,971 Apr. 6... 662.2111 517,060 157, 520 359,540 145,151 72,160 72,991 42, 956! 15,059 381, 548 217,197 10, 608 7,320 A A A p p p r r r . . . 2 2 1 7 0 3 . . . . . . 6 6 6 6 5 5 0 8 9 , , , 5 4 9 4 6 7 3 9 4 ; ! 5 5 5 1 1 1 8 4 3 , , , 3 3 2 0 7 9 0 7 9 1 1 1 5 6 5 7 2 6 , , , 4 3 3 1 4 1 7 4 0 J ; 3 3 35 6 5 6 0 2 , , , 8 0 9 8 6 5 2 7 6 1 ) 1 1 1 1 4 4 4 2 5 5 , , , 6 0 2 7 4 9 4 4 2 7 7 71 0 1 , , , 4 4 5 8 4 9 4 1 4 ; | ; 7 7 7 3 3 2 , , ,1 4 8 9 9 0 0 8 3 4 4 40 1 0 , , , 9 4 4 7 7 6 7 8 0 1 1 ; 1 1 1 3 4 4 , , , 1 0 6 4 9 7 3 8 8 3 3 3 8 7 7 1 6 3 . , , 4 0 3 4 8 1 0 2 6 2 2 22 1 1 1 7 9 , , , 3 5 6 2 2 7 1 2 0 6 9 6 , , , 1 8 5 9 0 9 5 9 4 13 8 7 , , , 6 2 3 2 7 0 8 7 7 May 4__. 657,790 512, 253 156, 402 355, 8511 145, 537 71, 897i 73, 640 45,109; 13, 356 377,130 220,942i 5,823 9,733 May 11.. 657, 056 511,136 156,142 354, 994! 145,920 71, 636, 74, 284 40,821! 13, 958 381,159 221,992, 4, 785 6,993 May 18_. 662,188 514,879 161, 262 353,6171 147,309 72,197J 75,112 41,519; 13, 626 374,069 223,397, 3,548 10,186 May 25.. 659, 223 513, 222 160, 556 352, 666, 146,001 71,308! 74,693 39, 661' 13, 624 374, 903 223, 607 3, 413 6,132 June 1__. 658, 693 514, 612 160,098 354, 514! 144,081 68,138' 75, 41,839i 13, 296 377,397 224,975 2,763 7,250 June 8... 660,988' 520,013 161, 759 358, 254! 140, 975 65, 336 75, 639 41, 749! 13, 628 384, 290 225,319; 1,653 4, 331 June 15.. 665,073 519,040 163, 513 355, 5271 146, 033 69, 856' 76,177 42, 520: 13,038 385, 965 225, 567! 5,839 4,774 June 22.. 667, 757! 520, 697 159, 330 361,3671 147,060' 69, 812; 77, 248 41,741| 13, 396 379, 276 227, 202! 5,398 9,803 June 29.. 669, 051 519,088 157,967 361,121 149,963, 71,754; 78,209 40, 858' 13, 545 382, 913 230, 214' 4,524 7,608 July6... 667, 389 516, 34' 159,291 357,056 151, 042 71, 503J 79, 539 44, 372] 13,977 390,166 229,134' 3,738 10, 209 July 13.. 675,704 522,984 160,119 362, 865J 152,720 72,157 80, 563 42, 476 13,962 394,027 229, 229 2, 958 9,809 July 20.. 674, 5541 520, 882 160,197 360, 685! 153, 672 72, 6021 81,070 43, 4581 13,370' 394, 246 230,712| 2,590 5,884 July 27.. 678,877 524, 24^ 161,067 363,180 154, 630 72,766! 81, 864 43, 3351 13, 245; 400, 619 233, 526 2, 634 4, 319 Aug. 3__- 684, 925 526, 523 165,937 360,586 158,4021 73,432! 84,970 46, 857 13,178] 404,164 235,105 2,78C 4,815 Aug. 10- 687, 7321 529, 568 163, 625 365, 943 158,164 76, 5471 81,61" 44,648 13, 328!, 402, 460 235.443 1,45C 2,991 A A A u u u g g g . . . 1 2 31 7 4 - - .. 6 6 6 7 8 8 7 2 0 , , , 9 6 2 3 8 3 1 4 3: 5 5 5 2 2 2 0 2 0 , , , 3 6 4 9 6 6 3 1 4 1 1 1 5 5 5 8 8 8 , , , 6 5 5 6 3 3 0 4 3 3 3 3 6 6 6 1 4 1 , , , 9 8 0 2 3 3 7 0 4 1 1 1 5 6 5 6 0 9 , , , 9 8 4 6 9 7 9 1 0 7 7 7 2 2 3 , , ,1 4 2 9 3 8 5 6 9 1 8 8 8 4 7 7 , , , 3 3 6 9 3 8 6 4 0 4 4 4 4 3 7 , , , 0 3 5 9 8 9 8 8 8 1 ' 1 1 1 2 3 2 , , ,7 6 0 8 3 5 4 8 6 1 | ; 3 3 39 9 9 5 2 4 , , , 8 8 8 1 1 1 7 3 4 2 2 2 3 3 3 6 5 9 , , , 0 5 9 2 9 8 8 0 2 1 1 1 , , , 1 1 1 3 3 3 f 2 2 6 5 , , 6 2 0 4 1 7 Sept. 7— 683, 634 521,556 159,808 361, 748 162,078 73,855 88,223 45, 386 14, 034| 401,407 238, 501 23S 7,561 Sept. 14. 688, 618 525,853 159,089 366, 764 162, 7651 74, 2691 88, 496 44, 288 13, 725; 397, 788 236, 414 23S 9,012 Sept. 21. 696,860: 528, 584 159,980 368,604 168, 276 79,4031 88,873 43,013 13, 296 233,747 12,17- 13,425 Sept. 28. 695, 387j 529, 254 162, 320 366, 934 166,133 79, 279 86,854 42,021 13,955 394,903 235,352 11, 56? 12, 286 Oct. 5-. 699,879 530,134 162, 509 367,625 169, 745 80,411 89, 334 43, 321 13,753 395, 281 238, 75511, 25c 15,637 Oct. 12. 703, 709J 533,452 163, 540 369,912 170, 257 80, 583 89, 674 42,179 14, 244 395, 299 241,835 11,268 15,664 Oct. 19. 527,046 163,021 364,025 169,940 80,365 89, 575 43, 233 13, 420! 386, 370 242, 296 8,51, 19, 827 Oct. 26. 692, 441 523,13C 159,849 363,287 78,875 90, 430 42, 647 13, 816j 387, 420 242, 380 6,508 14,695 Nov. 2.. 688,990 521, 378 160, 332 361,046 167, 612 73, 888 93, 724 45, 344 12, 893J 392,900 242, 742 5,961 12,179 Nov. 9-. 692,377 519, 774 160, 994 358, 780 172, 603 75, 699 96, 904 44,159 15, 213 394, 648 248, 866 4,01 13,171 Nov. 16. 697,014 519, 619 164, 492 355,127 177, 395 82, 241 95,154 45, 469 13,939 399,439 243,88" 6,78< 9,499 Nov. 23- 698,974 525,002 164, 584 360,419 173, 971 76, 865 97,106 43,912 14, 480 398,045 244,880 2,370 11,321 Nov. 30- 696,309 526,162 166,036 360,127 170,146 74, 323 95, 823 41, 585 14,166 403, 582 244, 510 244 10, 077 Dec. 7-_. 689,311 520, 636 166, 099 354, 537 168,675 73, 515 95,160 44,330 14,977 403, 391 242, 060 11,921 Dec. 14.. 694,195 522, 482 167,084 355, 398 171,713 73,847 97, 866 44, 548 15, 563 403, 442 243, 763 13, 375 Dec. 21.. 698, 727 524, 054 166,842 357, 212 174, 673; 77, 909 96, 764 41,518 15,986 391, 266 243,145 6,58C 20, 659 Dec. 28.. 701,480 526, 55: 168,813 357, 738 174, 929 78, 2G3 96, 666 44, 2881 14,916 387,812 243.444 6,58C 20, 507 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 75 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] RICHMOND DISTRICT—Continued Loans and investments Borrow- Loans Investments Reserve Gov- ings with Cash ; Net ern- at Date Total United | F re e s d e e rv ra e l va in u lt i : d d e e p m o a s n it d s j , d a e T oPr i, ° m_ scl :e tfso m d e e n - t F e e ra d l - Total O r n i t s i e e c s u- All other I Total G S m o t v a e e t n e r t s n - I se O cu th ri e ti r es bank posits s b e a r r e n v - k e securities 1928 Jan. 4.. 701,422; 525,631 171,234 354,397 175, 791! 78, 721 97,070 44, 763 '>14,263: 390, 998! 248, 867 5, 693 18,086 Jan. 11.. 698,221j 523,253 170, 744j 352, 509 174,968! 78, 629 96, 339 44,921; 13, 748! 391,495! 244, 54," 4, 305 14,127 Jan. 18.. 695, 518| 519, 908 166,707 353,201' 175,610 78,043 97, 567 45,106! 13, 294! 387,359 246,039 3,r~~ 18,815 Jan. 25.. 699, 9321 522, 532 167,9641 354,568' 177,400 79,117 44, 200 12,492: 395,096: 244, 960 2,797 15,094 Feb. 1.. 688, 754; 511,929 162,213! 349, 716J 176,825' 77, 998 41, 879 11,828 383, 825i 243, 509 2, 655 20,045 Feb. 8__ 687,515! 510,402 163,492 346, 910! 177,113' 78, 610i 98, 503 43,488, 12,661 384,513! 243, 847 1,497 17,427 Feb. 15. 686,030| 511,471 162,331 349,140; 174, 559! 75,156 99.403 43,137J 11,784 380, 873, 246, 687 1,207 15,499 Feb. 21. 686,417= 509, 634 166, 367 343, 2671 176,783! 72, 926 103', 857 43, 625! 12, 213, 375, 048i 247,449 1, 207 17, 574 Feb. 29. 685,008 512,216 165, 757 316,459| 172, 792: 74, 663 98,129! 42,452; 11,908' 375, 261! 246, 728 1,200 18,611 Mar. 7__. 681,479 510,957 164, 883 346, 074i 170, 522 72, 564 97,958 42,758: 13,069: 371,723!' 247, 322 366| 13, 654 Mar. 14.. 684,037 512,327 164, 713j 347, 614 171, 710: 73,443 98,267; 42,111.1 11,8911 373,280: 246,274 360 17, 590 Mar. 21.. 686, 707 508, 942 163,051! 345, 891 177, 765; 78, 233 99,532 41,447: 11,8101 365,273' 246, 681 9, 585 16,529 Mar. 28.. 685,403 508, 922 163,025| 345,897 176,481: 78,019 98,462! 41,594! 12,138; 365,912 247, 361 9, 585j 14,108 j A A A A p p p p r r r r . . . . 1 4 2 1 _ 1 5 8 _ . . . . . . . 6 6 6 6 9 9 9 8 3 1 1 9 , , , , 2 1 0 9 8 2 0 4 3 4 0 7 5 5 5 5 1 1 1 1 4 9 8 4 , , , , 8 4 0 2 8 5 9 1 6 2 3 1 1 1 1 1 7 7 7 6 9 3 2 9 , , , , 0 6 9 7 4 8 4 9 2 5 1 3 ! ; ' ! i 3 3 3 3 4 3 4 4 5 1 9 5 , , , , 1 2 4 4 5 0 1 1 1 0 2 8 | 1 1 1 1 7 7 7 7 4 6 1 5 , , , , 3 4 9 9 9 9 1 0 5 7 3 7 : ' ! : 7 7 7 7 7 7 5 5 , , , , 8 9 7 6 3 2 6 8 7 6 6 3 9 9 9 98 6 9 7 , , , , 1 0 8 4 4 7 1 7 1 6 2 1 4 4 4 4 0 2 1 2 , , , , 0 1 2 4 8 9 3 9 0 5 5 8 ; ! ! : 1 1 1 12 2 2 2 , , , , 1 1 1 4 8 9 1 1 6 6 2 6 ! : ! 3 3 3 3 6 6 6 7 5 9 9 3 , , , , 4 3 3 6 4 9 4 1 4 1 6 8 ! , J ! 2 2 2 2 4 4 4 4 8 7 7 6 , , , , 7 6 7 6 7 8 1 6 7 2 2 6 4 8 9 5 , , , , 0 4 5 8 6 6 3 5 4 3 7 6 1 1 1 1 9 8 8 6 , , , , 8 4 5 9 1 0 6 1 0 0 0 8 May 2... 690,124 515, 793 180,392, 335,401 174,331! 76,0: 98, 254 40, 916' 11,853 364, 778! 249,423 3,774 23,621 May 9__. 692,130 517,892 179,8611 338,031 174,238, 78,077 96,161 41, 014i 11, 997 367, 826! 249, 983 2,439 21,532 M M M a a a y y y 2 1 2 9 3 6 _ . - . . 6 6 6 8 8 8 7 8 9 , , , 2 4 2 7 8 6 2 0 9 5 5 5 1 1 1 5 3 5 , , , 0 1 8 9 7 6 6 7 6 1 1 1 8 8 8 0 1 0 , , , 0 2 9 2 2 7 1 0 9 : i ! 3 3 3 3 3 3 5 2 3 , , , 8 1 8 7 8 5 6 7 6 1 1 1 7 7 7 4 4 2 , , , 4 1 3 0 7 0 3 3 6 ' | ; 7 7 7 7 8 8 , , , 1 5 7 9 7 9 3 7 7 ! 9 9 9 5 5 4 , , , 6 7 9 2 0 8 6 9 0 4 4 3 2 1 9 , , , 1 3 5 7 1 1 0 9 3 ; : 1 1 1 2 2 1 , , , 6 2 2 8 1 3 4 4 5 3 3 3 6 6 6 0 0 2 , , , 3 2 0 3 3 2 7 3 7 : ! j 2 2 24 5 5 9 0 0 , , , 1 0 6 5 2 7 5 3 9 1 1 1 , , , 7 1 3 3 9 7 6 8 0 1 2 2 2 8 3 4 , , , 0 6 8 9 0 7 6 9 5 June 6__. 688,138 513,190 181, 316! 331,874 174, 948! 78,192 96, 756 41,86Q! 12,490 362,989: 250,695 7 25,092 June 13.. 688, 532 517,430 183, 966, 333,464 171,102 74, 779 96,323 44, 273! 12,385 369,117; 251.564' 23,580 June 20.. 684, 685 515,014 182,2341 332, 780 169,671 74, 983 94, 688 40,468': 11, 994 357,017i 248,943 2,492 26,028 June 27.. 689, 979 519,929 185, 974J 333, 955 170,050! 75, 222 94,828 41,053' 12, 346 355,413| 249,069 2,3311 29,373 ! July 3... 676,105 516, 724 188,166! 328, 558 159, 381 70,4041 88,977 43, 285! 11,539, 360,311| 250, 955 1,847' 29,273 July 11.. 678, 983 518, 518 188,459, 330, 059 160,465 70, 390 90,075 41, 865, 12,809 359,792 247, 798 1,331 31,337 July 18. . 675,076 515, 58;" 187, 430! 328,155 159,491 71, 059 88, 432 41,324' 11,854 357, 718! 246, 344 1,075 28,536 July 25.. 674, 370 515, 023 189, 030| 325, 993 159, 347: 71,112 88, 235 38, 8911 11,611 351, 917; 245, 209 819 32,573 A A u u g g . . 1 8 _ — _. 6 6 7 7 6 4 , , 6 3 9 0 2 4 5 5 1 1 4 2 , , 7 37 3 3 0 1 18 8 5 7 , , 4 8O 6 4 1 . i i 3 3 2 2 8 5 , , 2 5 6 6 9 9 1, 1 1 6 6 1 2 , , 5 3 7 19 4 ! ' 7 7 4 2 , , 9 6 5 4 0 0 8 8 8 7 , , 6 67 2 9 4 4 3 1 9 , , 2 37 8 4 0: i 1 11 1 , , 2 6 3 6 1 4 3 3 5 5 3 4 , , 0 2 4 2 9 0 i ; 2 2 4 4 7 5 , , 585 6 5 , , 4 6 4 2 5 8 3 28 0 , , 0 3 6 9 6 6 A A u u g g . . 2 1 2 5. . . . 6 6 7 74 7 , , G 8 3 1 4 3 5 5 1 1 7 7 , , 3 8 3 4 2 4 1 1 8 8 7 5 , ,1 5 2 6 0 0 ! ! 3 3 3 3 0 2 , , 2 2 8 1 4 2 ; | 1 1 5 5 9 7 , , 4 7 8 9 1 0| 7 7 1 0 , ,4 0 1 3 6 0 8 8 7 8 , , 0 7 6 6 5 0 4 38 0 , , 8 2 3 85 0! 1 1 11 1 , , 1 5 2 8 9 2 3 34 5 8 4 , ,8 3 0 7 5 2' 2 24 4 7 7 , , 3 5 6 0 ' 3 4 5 , , 6 5 7 1 8 2 1 | 2 2 7 6 , , 2 8 9 4 5 2 Aug. 29- 678, 990 520, 552 186, 244' 334, 308 158, 438 70, 779 87, 659 40, 337! 11,706 349, 465 246, 971 3, 675| 30,607 i i S S S S e e e e p p p p t t t t . . . . 1 1 5 2 2 9 . 6 . . . _ 6 6 6 6 7 8 7 8 7 3 7 1 , , , , 8 2 4 3 5 2 9 6 1 2 8 5 : : ;. 5 5 5 5 2 2 2 2 0 1 0 5 , , , , 0 6 2 7 6 8 6 1 5 9 2 7 1 1 1 1 8 8 8 8 9 6 9 9 , , , ,1 1 9 2 1 0 9 8 9 6 2 8 ! ' 3 3 3 3 3 3 3 3 2 3 1 6 , , , , 1 5 0 4 4 6 8 3 6 4 3 5 1 1 1 1 5 5 5 5 6 9 7 8 , , , , 2 6 7 50 3 7 9 4 1 6 0 1 7 7 7 7 0 0 2 2 , , , , 9 0 8 3 7 5 5 2 4 4 7 3 ! 8 8 8 8 5 6 6 7 , , , , 4 6 6 2 6 5 2 4 7 7 2 7 4 4 3 4 1 1 1 9 , , , , 8 9 4 6 3 9 2 9 9 6 2 2 ; 1 : ! 1 1 1 1 2 2 2 1 , , , , 4 8 4 0 1 7 7 3 6 2 1 5 ; 3 3 3 3 6 5 5 5 0 8 8 3 , , , , 8 5 8 6 0 6 8 7 0 4 0 7 2 2 2 2 4 4 4 4 5 5 6 5 , , , , 1 4 3 2 3 0 8 3 6 5 7 2 4 2 2 5 , , , , 9 1 0 5 3 3 8 6 9 6 8 5 i 2 2 2 3 8 5 6 0 , , , , 0 6 3 5 5 4 8 4 4 4 4 9 i Oct. 3.. 675, 687' 519,170 185, 394 333, 782 156, 511 71, 7921 84,719 39, 740: 14, 789 363, 915: 246, 352 2,503 21, 877 Oct. 10. 672,331 515,947 182,179 333, 768i 156, 384 70, 892| 85,492 40, 832 12, 759 359, 350, 247,445 2,275 22,490 Oct. 17. 676,317! 518, 703 182, 623 336,080i 157, 614 73,192! 84,422 41,103 12, 276 367,082: 245, 684 7,143 20, 666 Oct. 24. 676, 969 •' 520, 732 186, 715 334, 017: 156, 2371 72,173 84, 064 39,889 12,311 360,166 245, 928 5, 3S0 24, 295 Oct. 31. 675, 900:; 519, 413 185, 990 333, 423 156,487 71,914 84, 573 41,058 12, 020 360,441; 244,746 5,055 22,794 Nov. 7-. 675,907!: 520,952 185, 793! 335,159 154,955J 70, 597 84, 358 41,946i 13.289 367,9041' 244,211 3,437! 23,832 Nov. 14. 674,158 520,211 189,018; 331,193 153,947 69, 631 84, 316 42, 4561 12, 599 365, 764; 243,460 2,7161 26,311 Nov. 21. 678, 6561 i 519,125 189,492! 329, 633 159,531 69,413 90,118 42, 213 12, 636 366, 675 242, 579 2,716 20,661 Nov. 28. 675,352 , 521,170 189, 733| 331,437 154,1821 69, 541 84, 641 41,413 13, 070 366,146; 241, 092 2,014; 25,114 Dec. 5— 674,845; 520, 213 190,166i 330,047 154, 632' 69, 764 84, 868 42, 011 j 13, 250 377, 4781 240, 522 19,486 Dec. 12- 679,387 524, 644 192, 6091 332, 035 154,743 69, 737 85,006 42,054i 13, 925 377, 563, 239,366 135 24,602 Dec. 19.- 679,689 520, 721 190, 547i 330,174 158,968 73, 265 85, 703 41.832J 14,630 364, 845! 243, 6631 6,312 23,535 Dec. 26- 676,881' 520, 525 188,433: 332,092 156, 356 71,957 84, 399 41,108! 15, 268 363, 713: 240, 961j 4,919 24,074 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

76 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] ATLANTA DISTRICT Loans and investments Bor- 1 row- Loans Investments Reserve I Gov- ings Date Total Fe w d i e th ral C i a n sh de N m e a t nd de T p i o m s e its ! ;I dm e e r e: n n - t F a e t d- |j United reserve vault deposits eral Total i O r n i t s ie e s cu- All other j Total I | i | ; G S m o t v a e e t n e r t s n- se O c t ur h i e t r i - es bank ! posits b se a re r n v - k e |! securities I 1927 Jan. 5 607,463; 510,958;' 114, 297 396, 661 96,505 36, 362 60,143; 44,044 12,780 342, 343 219,663 9,329 23,315 Jan. 12 608,176! 510, 6171] 116,126 394,491 97, 559 37,081 60,478J 39, 210 12, 079 346,654 223,234 7,614: 15,979 Jan. 19 596,807! 500,866,! 113,971 95,94111 36, 614 59, 327 43, 681 10,933 344,668 225, 5261 7,6141 14,270 Jan. 26 596, 574 499,912i j 114,438 385,474 96, 662 37, 676 40,434 11, 366 340, 642 225,491: 7,614: H,571 Feb. 2 593, 634! 497,135 !i 114,023 383,112^ 38,090 58,409! 40,506 10,735 341, 985 229, 247, 7,61lj 11,423 Feb 9 595, 858. 499,146! 115, 454 383,692! 96, 712 38,299 58,413| 38,370 10,904 339,317 227, 965i 6,724 8,979 Feb. 16 599,115| 500,300;! 116,046 384,254! 98, 815 39, 509 59,306! 44,608 10,943 344, 463 230, 033| 6,724 10, 467 Feb 23 598, 323| 496,465|| 115,361 381,104| 101, 858 40,604 61,254 41,492 12, 370 341,552 232,448! 6,724 10, 727 Mar. 2 604, 353 500, 390' 115, 391 384,999! 103,963 41,193 62,770 41,112 11, 994 341, 073 233,740 6,725 14,932 Mar. 9- 600,501 499, 953; 116,081 383,872: 100, 548 41,267 59, 281 42, 837 12, 321 343, 584 233,631! 6,158! 13,508 Mar. 16 618, 451 499, 764! 114,309 385,4551 118,687 i 55,637 63,050 40, 203 11, 259 338, 543 234,453! 18,5081 17,607 Mar.23 611,055! 494, 372! 114, 614 379, 758] 116,683 ; 56,456 60, 2271 39, 914 11,478 329, 029 235,505! 16,6821 17,541 Mar 30 614, 546; 496, 7841 115, 714 381,070: 117,762|: 58,409 59, 353 11,153 332, 640 235,437 15,953 15,644 Apr. 6. 616,996i 501,413! 116,975! 384,438j 115, 583 ; 56, 617 58, 966! 40,398 10,950 338, 776 235,508 14,614 15,494 Apr. 13.. 616, 337 503, 568i 115,038 388, 530: 112,769I| 54, 281 39,102 12,015 341, 710 237,038! 13,796 13,997 Apr. 20.. 612,523: 497,966; 111, 438! 386, 528 114,557 i 54, 325 60, 232 41,145 11,403 334, 652 234.745J 9,674: 16,576 Apr. 27- 609,897 496,6191 Ill, 288 385,331 113,278; 53, 576 59, 702 40,900 11, 908 335, 303 235,845! 8,774; 19,540 May 4... 611, 378 499,174| 110, 72l| 388,453 112, 204 ! 52,484 59, 72o! 39, 739 10,96 328,760 237, 757 8,513' 18,578 May 11.. 608,802 499,111! 111, 1201 387,9911 109,691|; 51,478 58,213! 40,690 11, 59: 337,489 237, 213 6,731! 19,416 May 18.. 611,052 496,109, 109,602! 386, 507 114,943|! 55, 354 59, 589 40,139 10, 68C 334,134 238,465| 5,040: 19,086 May 25.. 602,797; 492, 003; 107, 994 384, 009 110,794j; 51, 267| 59, 527 37, 453 10, 86' 327,019 239, 794j 4,814i 15,640 June 1... 609,709: 492,9511 114,926, 378,025 116,7581! 56, 521 60, 237 39,981 11, 326 332, 224 236, 6691 3,925* 15,575 June 8... 597, 042 489, 279 111, 143 378,136 107, 763|! 48, 721 59,042 39, 659 11, 279 328, 41f 241, 665 2,394l 14,930 June 15.. 610, 805; 489, 784! 111, 568,' 378, 216 121,021|: 59,968 61,053 37,948 10,64f 327, 912 239,008 15,272i 15,753 June 22.. 607, 729 489,646, 111,265! 378, 381 118, 0831 i 57,103 60,980 40,169 10, 867 324,609 238, 818 14,808 15,744 June 29.. 611,890! 492, 217 112, 095 380,122 119, 673 ! 58, 079 61, 594! 37, 509 11,207 325,263 240,043 12,374; 15,298 ! July 6-.. 607,028 113,174| 375, 210 118, 644 j 57, 573 61,071] 40,181 11,84! 330, 719 241,396 10,076, 16,588 July 13.. 600,222 485. 356 114,932: 370,424 114,866i! 55,428 59,438! 41, 557 11,17; 330,493 240,692; 8,144! 14,119 July 20.. 597,078 480,881 113,86lj 367,020 116,19' 55, 545 60,652j 39,146< 10, 668 328, 513 239,513 7,2371 20,328 July 27.. 594, 262 479,437 114,408 365,029 114,825 55,116 59,709 37,034i 10, 788; 317,178 239,679 7,235; 17,615 i Aug. 3— 595, 564 480, 710 116, 527; 364,183 114,854 54,926 59,928 41,393; 10, 275 320,338 239,837 6,714] 16,340 Aug. 10- 597,976; 486,077 117, 673 368,404 111,899 52, 691 59, 208 36, 640; 10, 883 324,915 243, 262 4,027 15,290 Aug. 17.. 591,432 481,467 115,171 366, 296 109,965 50, 298 59, 667 39, 083i 10,150 322,441 238,119 3,055 15,445 Aug. 24.. 591,829 479, 291 115, 721 363, 570 112, 538 50,013! 62, 525 37,033! 10, 54S; 321,617 238,133 3,055 15, 612 Aug. 31.. 595, 370 483,191 116.386 366,805 112,179; 49, 745! 62,434| 39,196: 10, 641 i 331,036 233, 970 3,055 14, 314 Sept. 7. _ 597, 037 116, 224 370,166 110,647! 49, 227 61,420 41,647 11,116 337, 236 238, 836 666 10, 940 Sept. 14. 602, 286 490, 789 118, 580 372, 209 lll,497j 49, 632 61,865 39, 297 10,915 339,46. 237,854 666 13, 598 Sept. 21. 613,894 493,849 121,423 372,426 120,045i 57,162 62,883 40,854 j 10,863. 327,578 236, 288 17,323 16,105 Sept. 28_ 618,615 501, 855 124,679 377,176 116,760! 57,196 59, 564 38,877: 10,911 329, 253 237,369 18,463; 11,640 Oct. 5__ 618,937 500, 967 124,034 376,933 117,970! j 56,768 61,202 40,814 11,427; 336, 323 240, 330 17, 242 11,496 Oct. 12.. 623,402 503, 628 118,840 384, 788 119,774! 58, 501 61, 273j 39,105! 12,361 i 343,42' 240, 216 17, 2421 9,539 Oct. 19_ 618,694 500, 260 122, 282 377,978 118,434! 56,371 62,063 38,935; 11, 746; 336,62! 241,956 12, 864i 11, 717 Oct. 26_ 615,413 497, 260| 122,910 374,350 118,153| 55, 259 62,894! 37,844: 11,527: 332,031 243,334 9,887| 9,389 I Nov. 2... 615,049 500,198 123.387 376, 811 114,851i 53,357 61,494! 40,332! 11,507, 333, 541 245,386 9,140! 13,927 Nov. 9— 614,294 501,167 119,443 381,724 113,127' 51,877 61, 250 37, 273 12, 032 335, 522 243,410 6,137 13,029 Nov. 16.. 624, 346 498,853 121,534 377, 319 125,4931 64,116 61,377 40,915! 11,180: 337,955 245, 282 19,688 17,007 Nov. 23_. 621,172j| 493, 855 119, 275 374,580 127,317! 62,193] 65,124 40,133; 11,316; 332, 603 244, 980 23,116 Nov. 30- 619, 78111 494,161 118, 356 375,805 125, 620; 61, 279j 64,341 39,624! 11,729; 334,297 245, 029 681 26,084 Dec. 7.. 499,165 123,884 375, 281 124,891 60,547| 64,344] 41,149 ll,805! 344,296 244,895 343 20,734 Dec. 14_ 504, 055| 123, 654 380,401 123, 649 59, 333 64,316| 40,373! 12,688! 352,050 243,861 346 20,347 Dec. 21. 499,620 121, 789 377,831 131,775 65,810 65,965 40,859| 12, 465! 342,496 244,058 10,497i 22,732 Dec. 28. 501,717 121,272 380,445 130,973]' 64,86l| 66,1121 42,6221 12, 272; 344, 564 243,139 10,496i 21,198 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 77 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] ATLANTA DISTRICT—Continued ! Loans and investments J Bori row- Loans Investments Reserve Gov- ings Date Total Total 1 ;| 1 O r n it i s e e s cu- I All other; Total i : i ! i ! j G U S m o n t v a i e t e t n e e r t d s n - i se O cu th ri e ti r es : F r b e e w s a d e n i e r t k r v h a e l v C a i a n u s l h t ! j d d e e N p m o e a s t n it d s de T p i o m s e its p m e o d r e s e n n i - - t t s i | s b F e e r a a e r e r n a v t d - l k e securities 1928 Jan. 4_ 625,224 i! 495,040 121,600i 373,440 130,18411 64,1951 65, 989: 45, 554 12,677 354,198 243,381 8,943 21,2S0 Jan.11_. 621,473; i 493,402! 119,175 374,227i 128.0711! 62, 707 65,364! 42,674 12,298| 351,110 241,427! 6,780, 18,690 Jan.18_. 621, 589| j 492,275' 122, 907 369, 368! 129; 314!| 63,24l! 66,073 41, 732 11,114! 238,076' 4,872! 18,110 Jan.25_. 617,726|| 490,122; 124,056 366,066: 127,6041 i 61, 697 65,907: 42, 968 10, 917j 344,281; 240,692j 4,382 18,640 i li Feb. 1... 611,722M 485,433 123, 921! 361, 512! 126,289'; 60,850 65,433! 45, 536 11,020 343,893 241,9361 4,167 15,093 Feb. 8__ 614,397lj 490,377 125, 962| 364,415 124,020:! 58, 9371 65,083 41,680 11,147: 344, 928, 240, 750i 2,327; 16,672 Feb. 15.. 613, 725j| 493, 210' 125,8581 367,352 120,515J| 55.403; 65,112! 40, 520 10,886: 351,807 239, 375' 1,862; 14,270 Feb. 21. 610,50711 489,843 126,082' 363,761 120,664'! 56,069i 64, 595' 42,282 10,497' 343,306i 239, 3011 1,853 18,502 Feb. 29. 604,643;' 486,452] 127,279! 359,173; 118,191;; 53,039 64, 552| 40.338 11, 220 338,805: 239, G92.: 1,741 15,359 Mar. 7... 603,171 483,806 126, 244| 357, 5021 119,365:: 53, 735! 65, 630, 42, 544 11,085 340,0S0 239,5961 531 15,419 Mar. 14- 607,235' 488,368: 127, 709; 300,659 118,867:; 54,061! 64,800! 41,684 11, 510 347,806 23S, 507| 531: 11,441 Mar. 21.. 616,802; 486,879 125,254! 361, 625, 129,933! I 63, 974] 66,009 40,465 10, 985 332,894, 239,209. 21,234! 10,594 Mar. 28_. 621,11 492,278 i 127,208! 365,070| 128,839:1 63,466; 65,373! 40,328 11, 302[ 334.160 239,062 21, 234! 10,851 ji Apr. 4__. 619,412 490.772 ! 128,488; 362,284- 128,640 1 63, 302J 65, 278: 41, 529 11,0281 335,901' 240, 688 20,365! 16,049 Apr. 11-. 027,380 500,640,1 129,8911 370, 749; 126, 740! I 62, 526! 64, 2141 40, 078 11,199: 338,216 238, 561! 17,497; 13,734 Apr. 18.. 625,186 499,906!.' 130, 904; 369,0021 125,280; 61, 986 63, 294: 41,809 10,713! 334, 912 240, 020 12, 577 j 27,871 Apr. 25-. 626, 645 502,169; 131,275j 370,894; 124,4761 j 61, 5091 62, 967! 41, 253 10, 758 331, 288 239,235| 8,771 30,595 May 2___ 632, 558 505, 585!: 131, 515| 374,070 126,973 M 61,682 i 65,2911 43,152 11,010 341, 529! 241,006: 8,135J 31,422 May 9_- 630,154 504,073! 133,094! 370,979, 126,081 j| 61,300! 64, 721• 41, 558 10, 895| 330,400: 243,025 5,304! 30,896 May 16- 627,875 501, 785, • 131,329: 370,456 [ 126,090:! 60,536i 65, 554, 41,919 10,233! 341,067. 243,174 3,793: 28,399 May 23- 628, 479 501, 383 ! 131,278' 370,105 127,096!! GO, 705! 66,391! 41, 053 10, 837 334,403 243,092: 3, 236! 35,255 May 29— 633,444 504,315^ 131, 398; 372, 917J 129,129; j 61, 190; 67, 939, 40, 692 10, 7771 333, 625 242,180 2,679' 37,262 i June 6-_. 632,251 503,409 134, 914^ 368,495j 128,842!! 61,098! 67, 744: 41,109 10,433! 332,130! 243,687*. 44,195 June 13_. 637, 633 508, 281: 138, 349: 369, 932; 129,352! 62,187' 67,165' 40, 274 11, 253i 337, 387: 242,453. 48,498 June 20.. 639, 970 510,075 136, 358! 373, 717, 129,901!! 64, 6421 65, 259! 38,217| 10,403! 320,171 245,837 14,205 40,309 June 27_. 639, 530 511,716 138, 824| 372, 892| 127,820;! 63,065! 64, 755j 39,118; 10, 590! 324,825; 244,581; 13, 633 37,434 1 Ij JulyS 634, 563 504, 7751 138,074! 366, 701 129,788Ji 61,050 68, 738i 38, 073 ll,lll! 330, 347: 244,447' 10, 848' 44,397 July 11 637, 522 505, 587 ' 144, 456! 361,131 131,935,! 60, 5991 71, 336; 39, 831 11, 424 i 324, 865 245, 704 8, 219 46,094 July 18 638, 233 505, 069 j 138,063i 367,006 133, 164 I 61, 255! 71,909 38,924 10, 390! 315, 538 244,039 6, 243 53, 891 July 25 631, 207 498,779 : 135, 816| 362,903! 132,428u 59, 689! 72, 739: 38,989: 10,1771 314, 738 242, 622 4,801, 47, 213 I j Aug. l._. 641,633 500,163 • 135,984: 364,1791 141,470' 69,095i 72, 3751 38, 717: 11,057 319, 630 241,408! 14, 918^ 45,101 Aug. 8— 642, 404 502,151 ; 136,455, 365, 696! 140, 313 69, 229i 71,084! 39,946 10, 501 316, 296 237, 858 11, 550' 48, 783 Aug. 15.. 644, 367 502, 833 134, 339 j 141, 534! 69, 541 j 71,993i 38, 4911 9,849 318,163 238,164 11,300' 50, 218 Aug. 22.. 638, 348 502, 956. 137, 957 364, 999 135, 392' 63,1451 72, 247! 39, 048: 10,042 313.161 238, 530, 8, 592, 46, 295 Aug. 29-. 637,454 502, 758 137,909 364,849j 134, 696; 61,919; 72, 777i 38,196 9,921 309,924 238,440 6,870! 47, 509 Sept. 5__ 637,413 503,062 143,602 359,460j 134,35li! 61,914! 72,437: I 37, 639 9,850 313, 654 236,3211 5, 530i 49,712 Sept. 12. 636, 360 I 504,430 146, 0341 358, 396| 131, 930| 59,988; 71, 942J 37,442 10,540 314, 403 236, 770 3,748| 52,496 S S e e p p t t . . 2 1 6 9 . . 6 6 4 4 8 3 , , 7 3 3 0 6 7: 5 50 0 3 1 , , 4 9 8 2 0 3 1 1 —3 4 6 5 , , 4 1 7 6 -~8 1 Qi 3 35 6 8 5 , ,4 3 4 1 5 9 ! 1 1 4 3 0 9 , , 8 8 2 1 7 3 J j | I 7 6 4 7 , , 7 3 8 4 1 2 : i 7 7 2 2 , , 4 0 7 4 1 6 ! 3 3 8 7 , ,9 3 8 9 4 9: 9 9 , , 7 9 8 0 7 2 3 3 0 0 3 5 , , 8 8 7 8 8 2 2 23 3 6 6 , ,3 6 6 8 6 5 1 10 3 , , 7 7 3 10 3 ! 5 5 7 6 , , 3 7 8 9 1 5 Oct. 3__ 638.901! 502, 835 140, 873j 361.962 136.066M 63,929 72,137- 38, 234 10, 223 309,437 237,163! 7,001: 53,484 Oct. 10_ 637, 833 502,154, 143,0381 359,116 135, 679 ! 63, 758. 71,921 j 39,141: 10,812 317,020 234, 230 4, 301; 47, 541 Oct. 17. 649,274 508,118! 143,190! 364,928 141,156! 68,928' 72, 228! 39,344 10, 576 318,387 234,100j 16,139j 48,448 Oct. 24. 643,938 506,690; 141, 727: 364, 963 137, 248j 64, 320 72, 928, 39,106 10,177 310, 801 235,935 12,068; 48, 296 Oct. 31. 642, 634 507,222: 135,745 371,477 135,412 59, 680( 75, 732: 1 40,163; 10, 693 311,705 235,309, ll,451j I 47, 229 Nov. 7__ 643,040 508,742! 136,548 372,194! 134, 298 59,0711 75, 227| 39,186: 10, 618 318, 577 234,736; 8, 601: 45,497 Nov. 14. 638, 350: 504,992 138,029 366.963 133, 358 58, 631! 74, 727i 40, 246 11, 285! 323, 549 234,304! 6,144j 42,205 Nov. 21. 637,081 504,109j 135,013 369,096 132,972 57,076| 75, 896 40, 861; 11,220 322, 706 237, 201! 6,145 38,177 Nov. 28. 636, 702: 505,896: 138, 673 367, 223 130,806 55,793 75,013 40,391! 11,415 325, 632 235,099 4,569 34, 624 Dec. 5.-. 647,176 516,865! 138, 853 378,012 130,311 54,814 75,497) 38, 529! 13. 6891 326,110 238,458 1,507 34, 201 Dec. 12.. 641,963 512,239: 138, 796 373,443 129, 724 54, 576 75,148 42. 3581 12, 803 237, 694 314 30, 315 Dec. 19.. 654,041: 514,463i 140,112 374,351 139, 578 65,120 74,458 39, 59li 12,422 337, 556 236,948 14,314 34, 358 Dec. 26.. 648,143| 510,916! i 139, 720 371,196 137, 227 63,007 74, 220 42.339 i 13,601 331,758 236,308. 11,257 35,848 I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

78 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] CHICAGO DISTRICT Loans and investments Borrow- Loans Investments Reserve Gov- ings Date United j j I | . F re e w s d i e e t r h r v a e l! ! v C a i a n u s l h t ! j d d e e N p m o e a s t n it d s de T p i o m s e its m e d r e e n n - - t F e a e ra t d l - Total Onsecu- All other Total States 1 bank posits se re rv - e ' rities bank securities! 1927 Jan.5 2,981,303 2,321,665! 931,333 1,390,332 659,638! 280,878i 378, 76o| 254,883! 58,597 1,783,919 1,114,462 16,089! 88,633 Jan.12 2, 974, 663 2,302,881:! 925, 801 1, 377, 080 671,782 ! 299,433! 372,349, 239,95o! 56,045! 1,794,037 1,113,105 11, 645| 46,284 Jan. 19 2,968, 230! 2, 291,957 ; 922, 210 1, 369,747 676,273! 304,641: 371,632; 244,433! 47,682! 1,769,954 1,111,970 11,645 61,457 Jan. 26 2,953, 503 2, 269, 796 I 914, 960 1, 354, 836 683, 707 i 309,004J 374,703! 237,993; 47,003| 1,747,252 1.104, 567 11,645 54,932 Feb. 2___ 2,989,338 2,296, 358'i 938,305 1,358,053 692,980 i 309,065' 383,915: 238,074! 44,0891 1, 782, 741 1,115,764 11,645 49,731 Feb. 9 2, 976, 7941 2, 286, 269 , 933,491 1, 352, 778 690,5251 306, 603! 383,922! 235,495 44, 823! 1, 776, 098 1,120, 891 9,442! 42,596 Feb. 16 2,980,1451 2,281,526!! 930,669 1,350,857 698, 619 I 307,646] 390,973! 257,266! 42, 647| 1,805, 261 1,116, 672i 9,442! 55,165 Feb. 23. 2,984,153 2, 283,132 : 916,732 1,366,400 701,021 j 307, 245. 393,776j 216,096 47, 531: 1, 781, 789 1,113, 413 9,442! 45,511 Mar. 2 2,988, 607 2, 292,487. 932, 052 1, 360,435 696,120 I 306,9071 389,2131 233,724J 44, 430 1, 796, 324 1,109, 982! 9,442 51,002 Mar. 9 2, 995, 923: 2, 291,747 926,405 1, 365, 342 704,176;| 308, 586! 395,5901 237,6041 46, 7521 1, 794,194 1.105, 8511 7,974! 57,982 Mar. 16 3,023,751] 2, 298,727; 928, 822 1, 369,905 725,024l! 326,847! 398,177! 250,724! 44, 692 1, 817, 897 1,107,889! 36,598; 43,097 Mar. 23 3,015, 298 2, 289,619: 926, 746 1, 362,873 725,679'! 333,362! 392, 317| 233,766' 45, 317: 1, 807, 070 1,117,053 32, 967; 41,609 Mar. 30 2,994,183 2, 275,059: 914, 650| 1, 360,409 719,124| 315,933| 403,19l! 222,183! 45, 204 1, 750, 637 1, 094, 294!31,945! 54,961 Apr. 6 2,984,079 2, 267,241 901,124 1, 366,117 716, 838 320, 327J 396, 511251,485 47,952 1, 779, 032 l,116,127j 29, 41, 379 Apr. 13 3, 004, 666 2, 284,250 914, 374 1, 369, 876 720, 416 315,693; 404, 723 243, 887 46, 711 1, 818, 487 1,115,976! 27,334 20, 469 Apr. 20 3, 004,163 2, 289,155| 926, 523 1, 362, 632 715, 008 318,581! 396, 427255,568! 44, 609 1, 797, 639 1,120, 914: 18, 676 41, 327 Apr. 27 3,014,908 2, 286,212: 936, 093 1,350,119 728, 696 325,7281 402, 968244, 885j 45, 608 1, 795, 277 1,125,575; 17,484 44,195 May 4 3,049,860 2, 325,688! 936,942 1,388,746j 724,172 328,70l| 395,471 247, 858] 46,908 1,833,146 1,133,109' 16,365 52, 793 May 11 3, 046,128 2, 325,9911 943,960 1,382,031 720,137 j 330, 378J 389,759 225500,, 55442211 46, 036 1,840,233! 1,134,750: 13,645 28,805 May 18.... 3, 051, 327 2, 320, 333 953, 403 1, 366,930 730,994 ! 330,280J 400, 714225500, 336644|| 44,977 1,851,311 1,141,861! 9,567 27,133 May 25 3,064,505 22 ,331199 ,553355 948,""" 1, 370, 6681 744, 970 330,222! 414,7 " 253, 411| 43, 786 1,851,317 l,139,537j 9,418 36,137 I June 1. 3,050, 678 2, 319,851 965, 753 1, 354, 09sj 730, 827 326, 216! 404,611'! 251, 5231 45, 971 1,818,601 1,144,541! 7,792 57, 799 June 8 3, 067,101! 2, 343, 732 993, 542 1, 350,190 723,369 317, 224J 406,145J 247, 022 46, 609 1,843,036 1,152,482: 4,817 27,475 June 15 3,091,542!! 2,356, 793: 1,003, 290 1, 353, 503 734, 749 331,317'; 403, 432! 261,976 45, 075 l,880,384! 1,155,188' 24,368 24, 313 June 22 3,085,640H 2, 347, 473 999, 563 1,347,910 738,167 | 328,906! 409,261! 251, 808 44, 059 1,809,2071 1,1(1,179! 23,322 55, 486 June 29 3,104, 986 ! 2,360, 932! 1, 000, 573 1, 360, 359 744,054 | 328, 604 415,450 235, 351 49,037 1,838,522 1,160,245 19,159 52, 251 July 6 3,116, 566 2, 373, 876j 1, 004,481 1, 369, 395 742, 690 i 327, 269 415,421 251,775 49, 538 1,860,111 1,165,943: 15,615 54, 757 July 13 3, 091, 586 2, 362, 3051 1, 015, 831j1, 346,474 729, 28111 320, 925; 408,356 242,682' 47, 637 1,872,294 1,162,513 12,630 23, 92S J J u u l l y y 2 2 7 0 3 3 , , 0 0 8 9 0 3 , , 7 5 6 9 3 7 2 2 , , 3 3 5 70 8 , , 7 7 5 1 0 9 ! ! 1 1 , , 0 0 3 3 2 6 , , 1 7 2 6 0 5!1 1 , , 3 3 3 2 7 2 , , 9 6 5 3 4 0 7 7 2 2 2 2 , ,0 8 1 7 3 8! 3 3 1 1 6 5 , , 7 8 1 3 7 0 4 4 0 0 6 6 , , 1 1 6 8 1 3 2 2 3 4 9 9 , , 7 7 1 1 0 2 4 4 4 4 , , 9 6 5 6 2 0 1 1 , , 8 8 4 4 7 8 , , 8 1 4 9 9 5 ; ! 1 1 , , 1 1 6 64 5 , , 2 2 1 7 5 9 1 1 1 1 , , 3 3 4 4 6 6 3 3 5 3 , , 6 6 4 1 5 7 Aug. 3 3,088,431 2, 376, 042; 1, 042, 044 1, 333, 998 712, 3891 314, 202, 398,187 257,539 45,566 1,860,0931 1,161,589 10, 39539,411 Aug. 10 ._ 3,113,690 2, 402, 228 11 , 0(\A4 5K, 7T6«/4«j 1, 356, 464 711,462! 309, 910 401,552 251,836 45,685 1,878,913' 1,168,902 6, 25032, 010 Aug. 17 3,119, 477 ! 2,411, 378J11, 071,148 1, 340, 230 708, 099! 304, 919 403, 180| 258, 343 43,592! 1,892,702 1,176,539 4,781 22, 420 Aug. 24 3,113, 201 2, 390, 898 1,054,464! 1,336,434 722, 303! 317, 661 404,642 263,279 44,535 1,881,969' 1,176,955 4,765 21, 523 Aug. 31 3.132, 214 2, 408, 240; 1, 069, "3—77' 1,338,863,1 723, 974 !| 318, 523 405,451 264,886 44,710 l,899,783i 1,181,471 4,721 18, 808 Sept. 7 3,122, 613 2, 392, 809 1, 045, 946 1, 346,863 729, 804! j 326, 728 403,076! 262,998 46, 760 1,901,072 1,180,846 933 15,750 Sept. 14 3,144,171 2, 410, 498 1, 046, 499 1, 363,999i 733,673! 329, 996 403, 677j 262,468 45, 845 1,930,244! 1,173,557 933 23,520 Sept. 21 3,129,177 2, 405, 059| 1,047,9' 1, 357,060 724,118! 320, 781 403,337. 256,449 44, 978 1,865,859 1,172,091 34,837, 19,871 Sept. 28 3.133, 772 2, 403, 672| 1, 054, 845 1, 348, 827; 730,100 I 320, 886 409,214; 257,497 44, 069 1,868,655 1,173,171 34,837! 21,204 Oct. 5 3,132, 623 2,402,328!; 1, 044, 908 1, 357, 420 730,295' 325, 203 405,092: 266,994 44,436 1,876,029 1,185,003 33,283; 24,691 Oct. 12 3,142, 897 2,410, 379111, 061, 562 1, 348, 817 732,518 327,024 405,494: 266,068 45,290 1,902,926! 1,183,788 33,283! 18,337 Oct. 19 3,154,143 2, 419, 423: 1, 075, 862 1, 343, 561 734, 720 328, 755 405,965! 274,660 43,518 1,887,631 1,192,109 24,847i 33,938 Oct. 26 3,156,961 2, 415, 088| 1, 080, 479 1, 334, 609 741, 873; 327, 414 414,459| 254,315 43,923 1,886,124 1,192,107 19,054: 27,096 I Nov. 2..__ 3,136, 591 2,408,6931: 1,037,126 1, 341, 567 727,898 322, 955 404, 9431 264,769 44, 204 1,882,641 1,184,457 17,575; 33.746 Nov. 9 3,148, 441 2,415,185!! 1, 056, 556 1, 358. 629 733, 256 322. 960 410.296! 247,803 48. 970 1,884,896 1,189,883 11,838 31,609 Nov. 16 3,176,614 2, 412, 21 Or1,073, 184 1, 339,026 764, 404 356, 624 407,780' 254>999 44, 396 l,896,990! 1,194,021 43,122, 18, 401 Nov. 23 3, 186. 632 2, 426, 908 1, 080, 591 1,346,317 759, 724 356,468 403. 256 243, 564 45,934 1,896,776 1,195,672 15,078| 31,601 Nov. 30 3,162,059 2, 393, 896 1,043,461 1, 350,435 768,163! 364, 656 403, 507 260, 252 48, 673 1,905,383 1,193,977 1,496! 40, 399 Dec. 7. 3,162.290 2. 391, 205 1, 047. 709 1, 343, 496 771,085 364.147 406, 938 255,198 49, 048 1,895,639 1,192,036 749 39, 351 Dec. 14.. _. 3,163, 221 2, 385, 608 1.046,410 1, 339,198 777, 613 365, 337 412, 276 265, 546 51, 090 1, 889, 2851 1,199, 222 749 61,128 Dec. 21 3,138,122 2, 355,094 1,019, 590 1, 335, 504 783,028 366, 789 416, 239 270,770 54, 931 1,860.423 1,209,625 16, 764 48, 390 Dec. 28 3,109, 734 2,354,925 1,019,468 1, 335,457 754,809 334, 502 420,307 265,156! 54, 560 1,845,068] 1,200,026 16, 764 41, 724 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

79 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] CHICAGO DISTRICT—Continued Loans and investments ! Borrow- Loans Investments I Reserve ings i with at Date " -'Federal Fed- Total Total i j| | O r n i s ti e e c s u- All other Total I I | ' ! ; G U S m o n t v a e it e t n e e r t d s n- se O ^ c u th , r i e t r i es i ! j ! r b es a e n r k ve s b e e r a r r e n a v - l k e i I securities 1928 Jan. 4_. 3,140, 9C0i! 2, 367, 044 |1,029,980| 1, 337, 064 773,916 352,062| 421,854j 272,541 1,192, 311 Jan. 11.. 3,186,397!'! 2,394,4051 1, 032, 942!1, 361, 463 791,992,: 372, 3001 419,692! 269,001 1, 200,062 Jan. 18.. 3,176, 557!' 2,381,511!] 1, 023, 71611, 357, 795 795, 046 374, 873j 420,173i 269,559! 1, 203, 416 Jan. 25.. 3,139, 929i i 2,333,739|! 993,412 1, 340, 327 806,190 387, 3081 418,882: 283, 274| 1, 203,444 Feb. 1 3,130,494j: 2, 334,087j| 985, 274 1, 348, 813 796, 407: 384,948i 411,459j 262,448| 41, 292 1, 865,467 Feb. 8... ! 3,119, 158i! 2, 324,852;, 982,412 1, 342,440 794, 308 383, 606! 410,700, 260,913 41, 612 1, 842, 923 Feb. 15.... -J 3,120,728|j 2,324,155N 970,929 1, 353, 226 796, 573 382,616. 413,957' 263,821! 48, 757 1, 862, 589 Feb. 21 _J 3,116, 382 i 2,323,250,1 992, 474 1, 330, 776 793,132 376, 829| 416,303, 263,217: 38, 710i 1, 836, 708 Feb. 29 j 3,126,700!: 2,339,183! 998, 321 1, 340, 862 787, 517 I 365,1211 422,396; 257,441; 38, 799! 1, 845, 963 Mar. 7 i 3,154,121! 2,363,228: 1,017,261 1, 345, 96: 790, 893! 367, 089; 423,804: 259,157! 39, 907 1, 864,841 1,224,269 902 44,685 Mar. 14 I 3,163.688!! 2, 376,660|i 1,011,935 1, 364, 725 787, 028 361,852' 425,176 261. 409! 40, 077 1.874,351 1,227.5621 9021 35,704 Mar. 21 j 3,184, 704|i 2,375,8001; 1,020,811 1, 354, 989 808,904 383, 203! 425,701 254,064! 39,338 1,820,169 1,236,887 32,650 69,663 Mar. 28 ! 3,165, 507 ! 2,375, f' 3i 238| 1,352,722 789, 547 356, 559: 432,988 251,796! 39,311 1, 821, 726 1,224, 381' 32,650! 53,189 Apr. 4. 3,197,044 s; 2,399,927 l,033,062j 1,366,865 797,117' 356, 050 441,06' 260,144 40, 034 1, 837, 670 1,249,491] 34,101 72,907 Apr. 11 3,218,221!- 2,415,079 1, 041, 095! 1, 373, 984 803,142 372, 634 430, 508 253, 717 40,112 1, 859,456 1, 262, 835! 29,183j 51, 733 Apr. 18_ ___.| 3,225, 279;! 2,410.812 l,040,641j 1,370,171 814,467! 379,832 434, 635 252, 901 40,107 1,851, 390 1,264,418, 20,826! 55,820 Apr. 25 j 3,213,3361; 2,396,565 1,030,264 j 1,366,301: 816,771, 380, 365; 436, 406 268, 794 39, 546 1,832,439 1,263,703 14, 552j 77,784 May 2 3,261,162,' 2,434,152 1, 034, 029' 1,400,1231 827,010 388,499! 438,511 264,869 40,782 1,860,73' 1, 272, 79713,506! 75,256 May 9 3,277,582!.! 2,468, 307 1, 068,1791 1,400,128i 809, 275| 381,201; 428.074 271,439 40,307! 1,874,935 1, 287,474 8,885! 85,926 May 16 3,29fi,029li 2, 487, 643 1, 087, 259|1, 400, 3841 808, 3861' 378. 932 429,454 266,745 38,465 1,880,158 1, 289, 893 6,198 94, 241 May 23 3, 284, 956ji 2,467, 288 1,074,7441 1, 392, 544 817, 6G8l' 378. 662! 439,000 256,005 39,117 1,866,782 1, 286, 517 6,198 77,362 May 29 3,305,989j| 2, 501, 705 1, 097, 560( 1,404,145 804, 284J 367, 718! 436,566 258,7641 40, 827 1, 860,676 1,301, 333 6,198 101, 781 June 6_ 3, 302, 836 li2, 501,353 j 1, 094, 2861;1,407, 0671 801,483J| 376. 989 424, 494 257, 830 41,482 1,864,291 1,308,752 99, 903 June 13 3,340,119,: 2,533,757|j 1,110,398 1,423, 359 806, 362|i 381, 9951 424, 367 267,102| 41,509! 1,910,581 1,312, ]32i 118, 721 June 20. _ 3, 300, 349 2, 503, 814 1,087,538: 1,416, 2761 796, 535! 376,876, 419, 659 257, 712 39,886J 1,844,746 1, 306,188!13. 229 105, 594 June 27__ 3, 309,294H 2, 508,413 1, 098, 039 1,410,3741 800,881 375, 556| 425, 325! 256, 230J 40,0o4i 1,830,076 1, 295, 986!12, 682 133,123 J Ju u l l y y 3 1 1 i 3 3 , , 3 2 0 7 6 9 . , 3 2 3 8 4 7 2 2 , , 4 5 8 0 6 8 , , 1 9 0 2 6 4 1 1 i1 1, , 0 0 7 9 8 4 , , 9 6 5 0 9 0 1 1, , 4 4 1 0 3 7, , 9 5 6 0 5 8: 7 7 9 9 3 7 , , 1 4 8 1 1 0 ; 3 3 8 8 2 2 , , 5 3 2 4 7 3 i : 4 4 1 14 0 , , 8 8 8 38 3! 2 2 6 9 6 1 , , 4 0 1 5 8 5 1 1 4 4 0 3 , , 2 6 9 4 3 6' 1 1 , , 8 8 6 6 0, 4 5 ,^ 24 1,283,959!' I1 7 0 , , 6 1 4 89 8 1 1 1 5 4 6 , , 9 0 9 1 0 2 J Ju u l l y y 2 1 5 8 i I 3 3 , , 2 2 8 7 8 2 , , 1 9 5 8 2 0 ! 2 2, , 4 5 9 0 4 2, , 6 8 4 8 5 2 :! 1 1 , , 0 0 6 6 9 5 , , 9 4 3 2 0 0 j 1 1. , 4 4 2 3 9 2 , , 2 9 2 5 5 2 ' 7 77 8 8 5 , , 2 3 7 3 0 5, 3 3 6 7 5 2 , 5 ; , , , 7 " 7 4 06 4 11 9 1| 4 4 1 1 2 2 , , 5 8 0 8 9 6 2 25 5 8 5 , , 2 3 8 3 9 3 4 3 0 9 , , 4 1 1 7 9 0 ; | 1 1 , , 8 8 2 4 3 1 , ,3 2 2 7 6 0 1 1 1 , , , 2 2 2 5 6 7 8 2 0 , , , 0 5 5 7 5 6 5 0 4 5 4, , 4 8 5 0 8 5 1 2 1 8 3 , 0 9 , 1 1 1 40 Aug. 1 3,314,884' 2, 528,480'J 1, 075, 900l 1,452,580 786, 404 383, 312; 403, 092 263,427J 39,912| 1,828,974 1,263,632 28,487158,122 Aug. 8._ 3,302.115! 2,520,587, 1,074,566] 1,446,021 781, 528j 382,973 398, 555 258,199j 40,183! 1,821,418 1, 256, 40725, 595 136, 819 Aug. 15 3,305,922; 2,525,240! 1,075,513 1,449,727 780, 682 382, 307j 398, 375 257, 644j 39, 295: 1,851, 842 1,245, 73124.944 125,280 Aug. 22 3,286,434 2,517,424 1,072,111' 1,445,313 769,010 377, 502 391, 508 256, 829 42,9761 1, 816, 279 1, 258, 59320,610 124,080 Aug. 29 3,284,917 2,517,4181 l,073,37o| 1,444,043 767,4991 378,332| 389,167 246,9011 39,4S8| 1, 812, 262 1, 258, 54616,479 113,040 I i li I S S S S e e e e p p p p t t t t . . . . 2 5 1 1 6 2 9 | ! I 3 3 3 3 , , , , 2 2 3 2 7 1 8 6 5 0 6 7 , , , , 4 8 3 5 2 0 9 7 6 9 5 1 ; , | ! 2 2 2 2 , , , , 5 5 5 5 0 2 4 0 9 4 4 7 , , , , 8 3 4 2 3 3 2 4 4 4 9 0 ; , ' ' ' 1 j 1 1 1 1 , , , , 0 0 0 0 7 9 8 7 1 1 3 3 , , , , 9 0 2 1 4 1 7 6 6 1 4 6 ; 1 ! 1 1 1 1 , , , 4 4 , 4 4 3 4 5 3 7 1 3 4 , , , , 8 1 3 0 8 6 5 2 8 8 5 9. 7 7 7 7 6 6 6 6 5 6 2 0 , , , , 3 0 3 5 8 6 3 9 0 1 1 2 ' . ] ' 3 3 3 3 7 6 7 7 6 9 1 1 , , , , 0 3 7 7 9 4 1 2 6 9 3 8 ' , : 3 3 3 3 9 8 9 9 0 9 0 4 , , , ,4 7 6 6 9 1 0 6 3 ^ 5 3 2 2 2 2 5 6 6 6 7 5 0 7 , . , , 4 0 2 0 6 3 7 1 4 8 8 3 ; ; 4 4 4 4 0 2 0 1 , , , , 1 0 3 6 3 3 4 8 8 6 0 6 j 1 1 1 1 , , , , 8 8 8 8 5 5 7 7 2 9 4 9 , , , , 3 2 9 5 8 6 9 9 5 7 8 2 1 1 1 1 , , , , 2 2 2 2 5 6 5 6 4 6 7 5 , , , , 1 5 9 6 5 8 4 5 5 2 1 12 1 1 0 9 6 3 , , , , 3 3 1 5 6 8 7 6 6 7 9 1 ; ' 8 9 7 • 6 8 4 , , , 9 9 8 6 2 8 6 1 , 4 5 4 903 Oct. 3 3,300,673 2, 542, 571 1,082,0931 1,460,478 758,1021 366,87l! 391, 231 256,046j 40,273 1,868,450 1,263,237 9, 868 102, 308 Oct. 10 ! 3,298,102' 2, 550, 679! 1,078,966 1,471,713: 747, 423' 362, 70S! 384, 715 257, 255! 41, 80li 1,871,772 1, 269, 674 6,348 89,154 Oct. 17 I 3,328,2061 2, 567, 542 1,079,367 1,488,175 760,664 372,456 388, 208 259, 7551 39,873! 1,894,696 1, 262,86017, 343 105, 230 Oct. 24 ! 3,333,152 2, 573,107 1, 090,158 1,482,949^ 760,045 371,184! 388, 861 261. 342, 40,633, 1,884,056 1, 259,18712, 934 121, 565 Oct. 31 3,343.198 2,582,598! 1,095, 866 1,486, 732! 760,600, 368, 205 392, 395 253, 470; 42,149, 1,856,520 1, 265,92912, 294 143,166 Nov. 7~. 3, 329,163 2,573,809 1,102,961 1,470,848| 755,354 368,180 387,174 259,088| 44.729! 1,881,814 1, 266,414 8, 262 128, 579 Nov. 14.. 3, 322, 274! 2,569,490| 1,105, 271 1,464, 225 752,778, 367,850] 384,928 267,159! 43.206J 1,899,613 1, 268,063 6, 588 104,132 Nov. 21.. 3,341,114j 2,573,889; 1,102, 608 1,471, 281 767,225 365,927) 401,298 268, 279 40,445: 1,899,860 1, 268, 105 6,588 113,810 Nov. 28.. 3,323,165 2, 565,4981 1,108, 216 1,457, 282 757, 667; 367,4821 390,185 261, 631 41,714| 1,868,750 1,270,490 4,952 119,224 I Dec. 5.__- 3,358, 863! 2, 602, 976 1,129, 313 1,473, 663: 755, 887 - 366, 557 389,330 262, 247 43,397; 1,871, 1, 264, 723 1, 660 159,887 Dec. 12 3, 366, 625; 2, 616,820 1,134, 946 1,481,874' 749,8051 359, 347 390,458 268, 506 45,857: 1,916,358 1, 272, 213 311 140,703 Dec. 19 3, 372, 308 2, 616, 703 1,124,060 1,492, 643 755, 605 1 359, 877 395, 728 262, 560 48,746 1,882,441 1, 275,43912,228 144,814 Dec. 26__ j 3,334,997 2, 581, 6631 1,120,9861 1,460,677, 753, 334 j 359, 775 393,559 269,111 52,398 1,827,952 1, 272, 57811,680 166,568 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

80 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] ST. LOUIS DISTRICT Loans and investments Borrow- Loans Investments ! Reserve GOV- ; ings _ j with Cash Net Time ern- 1 at Dat© ^Federal in demand deposits ment i Fed- Ji United ; reserve vault deposits de- 1 eral Total Total O r n i t s i e e c s u- All other Total j ! i ! i j G S m o ta v e t e n e r t s n- se O cu th ri e t r ie s ! bank posits | s b e r a e r n v - k e i'securities 1927 i Jan. 5.. 686,401 513,806 199,392 314,414 172,5951, 64, 778 107, 817i 49, 396' 8,458: 406,0341 220,661; 3,750, 14,565 Jan. 12... 695,165, 519, 673 199, 504 320,169} 175,492;! 65,9611 109,531! 47,602, 8, 348; 409,056; 225,362 3,082^ 10,846 Jan. 19... 692,181! 516, 542 195, 371 321,171' 175, 639: 65, 723 109, 916! 47,087; 7, 750; 409,161! 226,375! 3,082i 6,316 Jan. 26... 690,857; 516,219 197,850 318,369j 174,638: 65, 502 109,136; 46,400 7,601; 405, 686; 226, 980' 3,082; 2,571 i Feb. 2... 689, 535; 515,317, 192, 757 322, 560 174,218! 67, 858 100, 360, 44.138 7, 332J 401,205 231,504 3,082 2,062 Feb. 9— 692,643 515,894 193, 709 322,185: 176, 749: 69, 603 107,146: 47,482 7, 588; 407, 010: 231, 858! 2,763 2,749 Feb. 16.. 694,210 511,824; 191,421 320,403! 182,386: 72, 392; 109, 994' 49,890 7,239; 411,872! 232,4151 2, 763 5, 368 Feb. 23- 689, 982, 507, 539 191,875 315,664| 182.443! 72,323 110,120i 48,514 8,067, 403,851: 233,857: 2,763 7, 665 i Mar. 2... 696, 589 513,287 195,028 318,259! 183,302 72, 958 110,344; 45, 992 7,424: 405,252i 234, 583 j 2, 759 8,435 Mar. 9__. 696, 555 513,616 194,810j 318,8001 182, 939: 73, 227i 109, 712, 48,151 7,311 408,190 235,192| 2, 552; 4,774 Mar. 16_. 699, 390 512,002 193, 6511 318,411 187, 328; 76, 5671 110,701' 51, 803: 7,314 408,071 i 236,406! 9,709; 6,620 Mar. 23.. 697,386 509,532 196,2991 313,233 18-7,854! 76,8811 110, 973 47,498 7,144 393,943; 236,440! 8, 738! 8, 565 Mar. 30-. 693,488 506,131 195, 6611 310,470 187,357: 77,203; 110,1541 47, 246 7,898: 395,865! 234,408! 8, 4691 8,440 Apr. 6—. 696,623 510,342 196, 546 313, 796i 186,2811 77,688' 108, 593 47, 661: 7, 680! 405. 712 232, 992 7,892 3, 650 Apr. 13.. 697, 330 508, 782 198,926 309,856 188, 548 i 79,025, 109, 523: 48, 037. 7,819 405^ 470 233, 829 7, 272 5,817 Apr. 20.. 697, 255 509,043 310,135 188,212: 78, 766, 109,4461 45,464' 7, 615j 402.451 235,608 4,937, 6,151 Apr. 27.. 698,460 505,3631 197,725 j 307,638! 191, 097' 81,074| 110,023; 47,176, 7,413 399,670; 235,493 4, 639; 9,210 i May 4... 700,542! 500.927 199,405! 307, 522: 193,615-1 81,640' 111,975; 47,866: 7,594 404,318! 235,053: 4, 360 9,750 May 11.. 701,049 j 506,259 200,0041 306,195! 194; 790 82,934. lll,850! 47, 609: 7,945 406,655, 230,377 3, 6211 10,475 May 18- 711,812! 501,533 196, 571 i 304,902 i 210,279,1 97,619. 112,6601 44, 225, 7,891 398, 914; 238,306 2,688] 15,185 May 25.. 711,487 ! 496,133 192,827, 303, 306; 215,354'. I 99,898'• 114j 7,934 395,1581 240,269: 2,552; 13,354 June 1_,. 699,215 ! i 491,711 194,435! 297,2701 207, 504ji 61,327' 146,177: 42, 597 8,227 380.02l! 233, 763 2,071j I 21,990 June8._ . 689, 359 ! 495,430 195,029: 300,401! 193, 929! 79,489; 114,440! 47,773 8,325 402,013' 230,869 1,242; 12,910 June 15.. 697,015!: 505,803 ' 198, 016 307, 787; 191, 212 ! 77, 536! 113,070| 52, 037 8,012; 423,010! 230,801; 3,634; 7,429 June 22.. 699,270 ! 503,187 I 199,112 309, 075! 191,083! 77, 349: 113, 734: 47, 538 7,373 403,229; 231,138 3,301! 16,850 June 29.. 701,665ii 513,069 I 204,134 308, 935; 188, 596 i 76, 8671 111, 729] 48, 577i 7,718: 401, 509J 230, 968; 2,480,' 25,016 July 6... 698,807!! 512.477 ' 206, 552 305, 925j 76, 918* 109,412' 48, 804| S, 186' 399, 604] 231, 747! 2,026 24,989 July 13.. 702,693 ! 515,091 209, 734 305, 357; 76, 2541 111,348; 46, 092! 7, 881 i 400,271 231,9.57i 1,649 15,721 July 20. . 701, 212 ! 513,112 207,402: 305, 710 76, 398; 111,702' 48,328i 7, 354! 400,360! 231,459, 1,465: 22,243 July 27-. 698, 874 j 511,646 209, 954| 301,692 74, 5061 112, 722, 48, 6461 8, 554 402,926| 234,429; 1,465; 16,411 A A u u g g . . 1 3 0 — .. 6 69 9 9 7 , , 9 4 0 5 3 5 ' j 5 5 1 1 4 6 , , 1 1 6 7 8 7 • ! 1 I 2 2 1 0 0 9 , , 5 5 2 36 9 ! 3 3 0 06 3 , , 6 6 3 4 2 8! ' 1 18 8 3 3 , , 2 7 8 2 7 6 7 7 1 1 , , 3 6 0 8 5 7 : | 1 1 1 1 1 2 , , 6 4 0 2 0 1 = 4 45 7 , , 4 0 7 5 4 6 ! ! 7 7 , , 4 2 7 8 6 9 - ; 4 4 0 02 1 , , 8 6 7 9 1 6 2 2 3 3 3 5 , , 8 9 9 90 1 ; ; I 1,3 8 4 0 2 6 1 1 1 4 2 , , 1 1 6 6 2 4 Aug. 17.. 698.410'i 516, 535 207,250, 309, 285! 181, 875 70,942 110,933i 46,1951 7, 224: 398, 333 230, 385i 620, 14,456 A Au u g g . . 3 2 1 4 - - 6 7 9 0 9 1 , , 4 7 3 6 9 6 :; i 5 5 1 1 7 9 , , 8 8 0 6 4 6 2 2 0 0 8 8 , , 1 3 5 2 9 2 ; ! 3 31 0 1 9 , , 4 7 8 0 2 7! ' 1 18 8 1 1 , , 9 5 6 7 2 3 1 1 7 70 0 , , 4 4 4 1 7 2 ; : 1 1 1 1 1 1 , , 5 1 5 2 0 6 ' ; 4 4 6 4 , , 8 0 8 7 3 7 ! | 7 7 , , 1 3 7 6 4 3: 3 3 9 9 8 6 , , 0 7 8 1 3 4! 2 2 3 3 6 7 , , 0 5 7 7 8 6 ; 6 6 1 20 2 ! ; 1 1 8 6 , , 4 5 8 0 7 6 Sept. 7._ 700, 286'! 521,148 212,146J 309, 002 68, 514; 110, 624; 48, 635' 7,777[ 397,408 235, 661 i 124! 15,104 Sept. 14. 702,991j| 523, 734 212, 076J 311, 658; 68, 473 110, 784^ 46, 782, 7, 827: 408,700 235,469: 124 12,812 Sept. 21- 707,06111 521,715 210,322: 311, 393; 73, 916; 111,430 46, 740, 7, 687: 394, 305 235, 618, 8,277; 19,595 Sept. 28. 709, 840: i 525, 210 209, 039! 316,171: 74,612! 110,018j 45,913: 7,772; 395,125 8,277 18,519 \- i Oct. 5__ 712, 340; j 526, 416 211,7231 314, 693 185,924! 74, 726 111, i98i 48,096j 7, 711' 410,153 238, 622 7,989^ 11,874 Oct. 12. 716,40Sl! 528, 076 211,9741 316,102: 188, 332| 75,195 113,137' 46, 653! 8,108: 415,4401 237,988 7,989: 9, 955 Oct. 19. 715, 953:; 527, 319 211,889; 315, 430; 188, 634! 75, 585 113, 049, 48, 613 7, 7151 407,177 237, 689 5,968! 16,227 Oct. 26- 713, 325 ; 524.928 212, OO81 312, 920j 188, 397| 75, 790; 112, 607! 51,317 7, 689; 408, 802 237,943 4, 790- 13,129 Nov. 2... 715, 30lii 529.478 213, 236 316, 2421 385,823' 73,400 112,423 48,849 7,740l 414,627 236,411 4,230 11,693 Nov. 9,- 717, 606j i 530, 572 213, 833^ 316, 739 187, 034, 73,461 113, 573 50,102 8,053; 420, 717 237, 541 2,841! 9,040 Nov. 16- 718,643:! 528,712 212,4681 316, 244; 189,931' 76, 515 113,416 52, 793 7,941! 430, 232 238, 360; 6,413; 3,909 Nov. 23- 727,070 536,187 214.978 321, 209 190, 883! 77,456 113,427; 51, 785 8,080 432,182 237,703 2,245: 10,603 Nov. 30.. 729, 5911 537,878 215, 234| 322, 6441 191, 713 77, 789 113,924 49.866 8, 313: 433,958 239,1951 221! 9,922 I i Dec. 7_. 731, 507i 539, 285 217, 360' 321,925; 192, 222 78,116 114,106 52,077 8,1771 446,726 234, 6191 109! 4,577 Dec. 14. 731,227j 537.302 218,133 319,169, 193,925! 78,152 115. 773 50, 898| 9,417| 448,994 234,414 374! 6,858 Dec. 21. 735,490 539, 664 217, 852 321, 812; 195, 826: 78,417. 117,409, 49, 270! 9, 870 J 430, 393 240,0651 3,626; 15,149 Dec. 28. 728,177|; 535, 531 213,418 322,1131 192,646; 72, 651 i 119,995i 50, 6941 8, 716' 426,367 241,016| 3,877! 12,127- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

81 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] ST. LOUIS DISTRICT—Continued Loans and investments Borrow- Loans Investments Reservej Gov- ings Date United F re e w s d e i e t r h r v a e l 1 ! i v C i a a n u sh lt d d e e N p m o e a s t n it d s j de T p i o m s e its m e d r e e n - n - t F e a e ra t d l - Total Total O r n i t s i e e c s u- All other Total G S m o t v a e e t n e r t s n- se O cu th ri e t r ie s! j bank ! posits s b e a re r n - v k e securities 1928 Jan. 4.. 726,158, 532,911:! 212, 845 320, 066 193,247i 76, 305 116,942 49, 881 i 8, 264! 433,834i 239, 755! 3,081 12,668 Jan. 11.. 730, 753: 529, 428! 213,435! 315,993 201,325 84, 547 116,778; 50,971: 8, 835! 442, 250 238, 237 2,314 5,775 Jan. 18.. 733,7471! 532,838M 216,413; 316, 425 200,909 85,129 115, 780! 50, 627i 7,517 430, 509 245,935 1,665 9,771 Jan. 25.. 729, 952! 528,347;! 213, 664J 314, 683 j 201, 605 85, 755 115,850^ 51,453: 7,099 431,636 246,919 1,500 8,158 il Feb. 1 i 732,280! 529,609 213, 404j 316, 205 202,6711 84,408 118,263 51, 799' 7,162 431,788 245, 586 1,426 12,466 Feb. 8 ! 738,265! 534, 095! 214,177 319,918 204,170 83, 644 120, 526 49,902 7,271 431,432 246,440 799 11,897 Feb. 15 I 733,823.1 528, 290 i 213, 826 314,464 205, 533 83, 790 121, 743 50,983: 6,958 429,215 246, 485J 648 15,409 Feb. 21 ; 730,727! 525,094!; 208,148! 316, 946 205, 633 84,166 121,467 48, 308 7,093 415, 345 246,865: 648 21,462 Feb. 29 i 726,496:i 524,284.! 208, 611 315, 673 202, 212 83, 231 118, 981! 48, 519 7,219 414, 721 244, 783: 648 20,137 Mar. 7—. 723, 515 : 520, 679 i 205,971 314, 708 202, 836 83, 689 119,147 48, 615 7,277 411, 578 247, 994! 195 16, 987 Mar. 14.. 723,510! 520,471! 203,429 317,042 203, 039 84,015 119,024! 50, 090j 7,375 414, 501 248, 354; 195 17, 555 Mar. 21.. 724, 022: i 518,150 203, 282 314, 868 205,872 86,149 119, 723! 47, 847! 7,092 398, 801 249, II5' 7,159 20,904 Mar. 28.. 719, 552 ! 513,156; 200, 363j 312, 793 206,396: 85,916 120,480| 47, 283 7,038 400, 885 248, 799- 7,159 13, 761 Apr. 4 ! 724,870! 515,942 ! 202,7341 313, 208 208,928 86,019 122,909i 48, 007; 1 7,409 400, 399 248,846! 6,874 16,633 Apr. 11 ! 728,3421 519, 622 ! 205, 669| 313,953 208, 720| 86,372 122, 348 48,133 7,323 414, 727 248, 316 5,889! 15,322 Apr. 18 : 732,403 523, 245 ! 210, 235! 313,010 209,158! 86, 281 122,877 48,050 6, 404, 332 247, 265 4,234| 28,957 Apr. 25 720,368 513,153:! 206,861! 306, 292 207, 215! 86, 304 120, 911 49,480 401, 64l| 248,069 2,9441 21,939 May 2... 723,010 515,462:; 209,066 306, 396 207, 548 86, 340 121, 208i 48,196! 7,400 400,088 247,335J 2,727 25, 703 May9__. 720, 904 513,599! 208, 963 304, 636 207, 305 86, 255 121,0501 48, 818 7, 318 405.033 249, 297j 1,798 19,484 May 16.. 721, 749 512, 817 I 208, 572; 304, 245 208,932 80, 729 128, 203j 47, 868 6, 946 405, 548 246, 267 1, 250 22, 789 May 23.. 740, 645 511, 900! 210, 247! 301, 653 228, 745 100,393 128, 352| 47, 578 7,143 392, 809 245,507 877 31,592 May 29.. 747,952 510,178'! 213, 880 296, 298 237, 774 76, 910 160, 864 45, 500 7,651 390,011 245,638 877! 34,046 June 6 ; 712,225 507, 703 ! 216, 582! 291,121 204,522!! 78, 809 125,713 45, 755 7,605 384, 219 244,794!. 34, 846 June 13 '•• 722,381, 514,644! 216, 794! 297,850 207,737;| 79,347 128, 390; 46, 328 7,792 392, 864 243.055:_ 35, 044 June 20 721,934! 515,627! 217, 836| 297, 791 206,307;! 78, 729 127, 578 44,950 6,861 376, 519 242', 725, 6,844 39,199 June 27 ; 723,858! 518,645,! 218, 872 299, 773 205, 213! 77,450 127, 763: 45,881, 7,030 381, 772i 244,141! 6,868| 34,461 July 3 i 722,133 518,307! 220, 927 297,380 203,826! 76, 826 127,000 42, 894 7,799 376, 660 243,495| 5,280 39, 245 July 11 723, 339:: 520,933: 219, 252 301, 681 202,406 76,118 126, 288 47, 619. 7, 946 388, 273 242,484 4,548 31, 225 July 18 ! 726,877 ' 525, 645 j 223, 385 302, 260 201, 232 75, 617 125, 615j 44, 003 7,179 375, 476 242, 664) 3, 546 43, 547 July 25 : 721,258,: 520,804, 222, 479 298, 325 200,4541 74,892 125, 562: 46,409! 6,887 378, 800| 241,412J 2, 812| 36,642 Aug. 1 719,542 519, 240 ! 220, 015 299,225 200, 302; 75, 734 124, 568| 45,319: 7,107 378,682 240, 780! 6,4111 36,604 Aug. 8 ! 717, 699 521, 583 ! 224, 466! 297,117 196.116! 73, 317 122, 799i 45, 453! 7, 426 376, 525 241, 572! 4, 535| 36,768 Aug. 15 _„._• 716,769 521, 697 ; 222, 841 i 298, 856 195, 0721 73, 278 121, 794i 44, 788! 6, 658[ 377,972 240, 484; 4,190! 36,309 Aug. 22 720,473 525, 315 i 221, 234 304, 081 195,158! 73, 301 121,857 43,3211 6, 526 367,911 241, 030! 3,265j 46,746 Aug. 29 719,436 524, 290 I 219, 667 304, 623 195,146; 73,420 121, 726 45, 684; 7,260 373.034 240, 9091 2,607! 43,635 Sept. 5__ 724, 587• 529, 846 ; 218, 374 311,472 194,741! 72, 957 121, 784! 45, 275^ 7,278 377, 781 240,938 2,086 46,738 Sept. 12. 721,597: 530, 216 i 217, 981 312, 235 191, 38l! 72, 224 119,1571 46,116, 7,380 380, 506, 239, 5881 1,487 46,143 Sept. 19. 727, 007 j 532,071 I 216,931 315,140 194, 936j 76,446 118,490 45, 530] 7, no! 379,910; 239,3671 7,238J 41,946 Sept. 26. 728,196, i 534,131 ; 217,821,' 316, 310 194, 065 76, 061 118, 004 46, 202| 7,132] 383, 670 240,813 5, 785] 40,210 I Oct. 3 ' 728,463! 536,881! 219, 242J 317, 639 191, 582 76, 036 115, 546 46,172j 7,318 386,974 241,088 3,422; 39,326 Oct. 10 ! 722,483! 531, 673 ! 214, 047 317, 626 190, 810 75, 693 115,117 48, 035! 7,174 397, 658 240,915! 2,107! 28,615 Oct. 17 ; 724,215, 532, 023 214,4861 317, 537 192,1921 78,182 114, 010' 46, 825j 7, 388i 392, 322! 240, 296; 5,234! 33,256 Oct. 24 I 715,812 1 524,763,' 212,9831 311,780 191,049! 77, 344 113,705 45, 557 7, 359'i 383,413i 240,053 3,907 30,754 Oct. 31 ! 719,551! 529,967:! 213, 798| 316,169| 189, 584 77,003 112, 581 45, 361 7, 853! 388, 007 j 240,813! 3,713 34,893 = 1 Nov. 7 I 714,499'; 525,0511 212,109 312, 942 189,448 74,811 114,637; 47, 843 8, 988J 396,161 239, 914; 2,496 28,208 Nov. 14 : 715,264! 526,161 !j 217, 335 308, 826 189,103 75, 5561 113, 547| 47, 203; 8, 706! 392,598 239, 387; 1,999; 33,574 Nov. 21. __.! 710,806! 519, 042! j 216,437 302, 605 191, 764 75, 540 116, 224! 46, 687| 7,916 389,901 238,069! 1,999; 29,167 Nov. 28 i 716, 516 ', 522, 816!! 218,836 303, 980 193, 700 75,173 118, 527 47, 376 8, 521 399,371 238,1991 1,498 23,792 Dec. 5 I 715,355 521,874: 215, 720! 306,154 193, 481 75,488 117,993 47, 999 8,861 402,955! 230, 219; 503 23,636 D De e c c . . 1 1 2 9 I ' 7 7 2 2 2 6 , , 3 7 4 6 4 9 ; ! 5 52 2 6 8 , , 1 9 4 8 0 3 1 !' 2 2 1 1 6 9 , , 8 2 8 4 3 7! ; 3 31 0 2 6 , , 7 2 3 5 6 7 1 1 9 9 6 7, , 7 2 8 0 6 4 7 7 5 7 , , 8 35 8 4 4 1 12 2 0 0, , 3 3 2 2 0 0 49, , , 7191 j , ,9 , ,454 4 4 1 0 8 9 , , 0 2 1 3 8 3 2 2 3 3 1 0 , ,8 6 6 45 1 J : 6,4 10 9 1 0 ! 2 2 4 7 , , 3 4 5 1 6 5 Dec. 26 j 714,843;! 516,2901: 220, 570! 295, 720 198, 553 78, 258 112200,, 249352! 4 4 4 8 85 ,, 99 9 89 9 46 6 1j 1 1 0 90 4 ,,94 6 67 1 19 405, 097 ! 230, 916' 5,069 27,494 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

82 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] MINNEAPOLIS DISTRICT Loans and investments Borrow- Loans Investments |Keserve: Gov- ings Date United I jF re e w s d e i e t r h r v a e l ; J j v C a i a n u s l h t d de e N p m e o a t s n it d s de T p i o m s e its m e d r e e n n - - t F e a e ra t d l - Total On secu- States Other bank I posits re- Total rities All other j Total G m ov e e n r t n- securities s b e a r n v k e securities 1927 Jan. 5 357,199 245,708 75,768] 169, 940 111,491 63, 685: 47, 806! 24, 632 6,342 215, 070; 123, 699 828 1,650 Jan.12 356,399 244, 845 79, 292| 165, 553| 111,554 63, 713; 47,84l| 23, 852 6,278 215,281; 124, 594! 628 500 Jan.19 355, 284 242, 776 80,002! 162, 774; 112, 508 63, 928; 48, 580; 25, 283 5,665 211,180! 126, 350; 628 1,175 Jan. 26_._ 355, 631 241,083 80, 6611 160, 422( 114,548 65,3831 49,165: 23, 944' 5,f~~ 212, 240| 125, 366 j 628 1,345 Feb. 2 357, 574 242,437 84, 339! 158, 098: 115,137 65,316; 49, 821 j 20, 513 5,487 211,82l! 123, 294! 661 1,061 Feb. 9. 355,946 239, 995 83, 3411 156, 654! 115,951 65, 656 50, 295 i 24, 689 5,756 214, 314; 122,731; 5331 1,058 Feb. 16 358,434 241, 784 84, 4121 157,372! 116, 650 65, 228: 51, 422| 23, 638 5,592 216, 648] 122, 925; 533 1,600 Feb. 23 358, 302 239, 681 83, 600 156,081; 118,621, 65, 285! 53, 336! 25, 073! 6, 519 216, 944: 124, 538 5331 1,154 Mar. 2 362, 792 242,487 82,431 160, 056; 120, 305 65, 306; 54, 999! 23, 885 5,327 221,188: 125, 498; 533 632 Mar. 9 365, 523 243, 278 82, 571 160, 707! 122, 245 65,331| 56, 914| 21, 384! 5, 645 220, 5861 125, 600! 471 430 Mar. 16 364, 556 244, 344 79, 855 164, 489' 120,212:' 63, 744: 56, 468' 24, 865 5,384 219, 292: 125, 263! 471 900 Mar. 23 362, 752 240, 463 79, 222 161, 241 122, 2891 64, 537! 57, 752J 26, 330, 5, 581| 216, 419 125, 042 2,494 3,632 Mar. 30 365, 568 240, 986 80, 086 160,900 124, 582; 67,930| 56, 652 23,641 5, 957! 213, 992: 125,171 2,415 3,407 I I Apr. 6 360, 698 240, 443 78,196 162, 24 120,255,1 64, 414| 55, 841 25,904! 5, 844! 215, 569| 125, 622 2,238 2,363 Apr. 13 362.046 240, 825 79, 602 161, 223 64, 4111 56, 810 22,102 6,024: 212,221! 126, 634 2,057 2,279 Apr. 20 354, 718 233, 778 77, 972 155, 806 120* 9401 64,3711 56, 569 25,038: 5,8611 206, 795: 126,430 1,406 3,704 Apr. 27 351, 791 231, 046 J 79, 6851 151, 361 120, 745, j 64,251! 56, 494 23, 373 6, 009| 205, 492 ] 125, 631 1,406 3,364 May 4_ 347, 234 227, 075 j 79,811 147, 264 120,159ii 64,399! 55, 760 24,153 5, 598i 200, 316: 125,059 1,237 3,808 May 11 349, 775 228, 304 80, 529 147, 775 121,4711! 65, 2951 56,1761 22, 866 5, 9001 204,077 i 126, 424 1,026 2,615 M M a a y y 2 1 5 8 3 3 4 4 9 7 , , 8 8 4 1 2 7 2 2 2 2 7 6 , , 1 6 0 3 2 1 7 7 9 7 , , 9 7 4 4 0 0 ; 1 1 4 4 7 8 , , 3 6 6 9 2 1 1 12 2 1 2 , ,2 7 1 1 1 5 ' 6 6 5 3 , , 5 3 8 1 2 0 5 5 6 8, , 1 9 3 0 3 1 1 2 2 3 3 , , 4 8 9 5 6 0 ; 5 5 , , 8 7 5 2 0 4 ; ' 2 20 0 1 2 , ,8 8 2 0 7 4 ! ' 1 1 2 2 6 6 , , 8 3 7 7 5 3 7 7 5 5 9 9 4 2 , , 5 8 3 5 4 8 June 1 354,105 232, 317 79, 581 152. 736 121, 788 | 63, 646 58,142! 21,619 5,914 209, 996 127, 018 538 3,559 June 8 353,327 232, 848 79,013 153,835 120,479' 63,402 57,077 26, 337i 5,599 209, 525 127,166 321 3,667 June 15 357, 613 236, 051 79, 511 156, 540 121, 562. 64, 911 56, 651 24, 267: 5, 6021 210, 748 127, 337 2,555 2,286 June 22 356, 055 234, 023 77, 564 156, 459 122,032 65, 007 57, 025 22, 807 5, 612' 205,155 127, 222 2,487 2,960 June 29 354, 400 234,830 79,347 155,483 119, 570J 62,840 56, 730 23, 092 5,739 205, 252 128,908 2,072 500 July 6 356.047 236, 356 79, 638 156, 718 119, 691 ' 63, 280 56,411 24, 629 5,962 209, 338 126,549 1,720 5, 250 July 13 353, 385 234,335 78, 589 j 155, 746 119,050 63,035 56, 015 23,493 6,134| 209, 480 128, 370 1,379 275 July 20 353, 044 233,469 79,087! 154, 382 119, 57511 63, 968 55, 607 23, 784 5, 958 j 207, 316, 128, 235! 1,227 1,265 July 27 348, 606 230, 752 81,128J 149, 624 117, 854jj 62, 947 54, 907 22, 017 6,127J 206,043: 124, 831 1,226 700 I Aug. 3 347, 624 229, 704 81, 027j 148, 67 117, 920J 62, 899 55, 0211 24, 475 5, 59o! 20S, 738 125, 386 1,128 800 Aug. 10 351, 512 231,121 82, 3471 148, 774 120,391 64, 663 55, 728 23, 583 5, 955i 211,025 125, 822 673 250 Aug. 17 349,024 228, 744 77,485J 151, 259 120,280; 64, 361! 55, 919 24, 690 5, 597 j 205,461 126, 998 518 1,925 Aug. 24 349, 248 229, 0391 77, 9501 151, •— 120, 2091 64,1311 56, 078 21, 991 5, 8631 205, 639i 126,105 514 2,200 Aug. 31 352, 944 232, 735| 76, 815| 155, 920 120, 209| 63, 880, 56, 329 24, 598 5, 827] 213, 552 124, 919 513 2,585 Sept. 7 353, 310 233,436 74, 827 158, 609 119, 874! 63,156! 56, 718i 23, 538 6, 254 213, 737; 125, 399 80 500 Sept. 14 ___ 360, 312 241, 605 75, 712 165, 893 118, 707 62, 59l! 56, 116! 25, 090 5, 946 224, 860 125, 014 152 Sept. 21 365,686 246, 486 78, 361 168,125 119,200 63,108; 56, 092 24, 754 5, 786 226, 533 125, 551 1,631 1,500 Sept. 28 367, 787 249, 229 80, 560: 168, 669 118, 558j 63, 045 55, 513 25, 261 5,969 230, 8681 125,403 1, 631 400 Oct. 5 370,17' 250, 714 82, 411 168, 303 119,463' 63, 85' 55, 606 26,180 5, 8991 234, 598| 125,416 1,420 275 Oct. 12 373,452 254, 362' 86, 475 167, """• 119,090 63, 630 55, 460 28, 864 6.112| 240, 983! 125,872 1,420 4,150 Oct. 19 376,152 255, 635; 85, 330 170,305 120, 517. 64,338 56,179 26, 743 5, 709i 238,009; 130,196 1,057 Oct. 26 380, 501 258, 865 84, 008| 174, 857 121, 636; 65, 265 56, 371 27, 719 6,0021 239,777' 130, 558 744 j j Nov. 2 391, 665 269, 064 i 88,163 i 180, 901 122, 601 65, 673 56, 928! 28,198 5, 73o! 254, 058J 131, 042 675 Nov. 9 394,181 270, 582 89,4621 181,120 123, 599 65, 562 58, 037 28, 270 6, 093! 256,3011 132, 529 523 Nov. 16 394, 216 267, 028 93,926! 173,102 127,188 68,423 58, 765 29,960; 5, 838i 253,059 132, 755 2,937 Nov. 23 394, 276 266, 571 95,176! 171, 395 127, 705 68,175 59. 530| 27,423' 5, 688J 248, 7751 134, 535 1,026 Nov. 30 391, 937 263, 609| 93,158 170,451 128, 328 68,434 59,894 28, 950] 248,825 134, 085 99 1,000 Dec. 7— 391, 931 262,696'! 168, 716 129, 235 67, 425 61,810; 31,122 6,126! 249,864 135,071 49 Dec. 14 392,660 263,167JI 95,1541 168,013 129,493 67, 366 62,127! 30, 079 6, 692! 247, 743 133, 679 49 1,250 Dec. 21 387,194 256, 8461! 91, 338; 165, 508 130,348 68,464 61,884 27, 804 7, 346! 236,657 135, 554 1,696 1,300 Dec. 28 383,073 252, 340i' 87, 8951 164,445 130, 733: 61,8701 29,194, 6, 561' 234,9131 134,259 1,696 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 83 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] MINNEAPOLIS DISTRICT—Continued Loans and investments Borrow- Loans Investments Reserve Gov- ings Date United F re e w s d e i e t r h r v a e l I v C a i a n u s l h t d de e N p m o e a s t n it d s de T p i o m s e its m e d r e e n n - - t F e a e ra t d l - Total bank posits re- Total I Onsecu- All other Total serve j rities bank securities I 1928 Jan. 4_. 381, 927 249,257: j 82, 723 1.66, 534. 132,670' 69, 780 i 62, 890 24, 8981 6,436 228,576 135,638 1,451! 1,500 Jan. 11.. 382, 550 250,084': 81, 35l! 168, 7331 132,466 i 69, 808 62, 658j 26, 73l| 6,3981 228, 927 136,875 1,057 1,000 Jan. 18.. 383,019J! 249, 634'I 83,801 165, 833 133, 3851 69, 754 i 63,631 25,082' 5,813' 223, 320 138, 295 762 2,250 Jan. 25.. 378,880! | 246,147. 80,070 166,077 132, 733 69, 557; 63,176 25,400 i 5, 766 220, 737 138,420 695; 1,520 Feb. 1 ! 378,164 ! 245,278;i 81, C65i 163.613: 132, 886! 09,885! 63,0011 25, 333 5, 370 221, 554 137, 858 655 1, 690 Feb. 8 i 381,897 249,802 ! 82,035^ 167', 767 132,095 69, 340! 62, 7551 25, 907 5, 588 222, 718 138,265 367 635 Feb. 15 ' 381, 796j 248, 234 ;| 82, 3751 105, 859 133, 5621 70,2831 63, 279; 25, 232 5, 7611 226, 881 137, 575 296 1, 500 Feb. 21 | 379,661 246, 366 ! 81, 031! 165, 335 133, 295 i 69,3641 63,931 28,70l! 5, 680! 224, 573 137,811 296 i 3,250 Feb. 29 .J 382, 735 I 249, 010|| 81,831i 167,179J 133, 725 69, 357j 64, 368; 26, 725 5, 529 235,034 133,065 210 1,850 Mar. 7... 382,205 j' 250, 782! 77, 890! 172,892! 131,423 69, 348 62, 075! 26, 957 5,488 235,075 133,473 67| Mar. 14.. 385, 682! 253, 094 j 78, 532j 174, 5621 132,588 69,284 63, 304 25, 0751 5,621! 235,073 133,433 65 Mar. 21.. 388, 230 I 254, 237 ! 78, 225! 176,0121 133, 993! 70,465 i 63, 528 25, 7781 5, 500j 229, 6441 133, 590 3,456! 3, 500 Mar. 28.. 386,144 , 251,948: 76, 218 175, 730 134,196! 70, 218| 63, 978 26,157 5, 679! 230, 539; 133, 707 2,803 2, 354 Apr. 4... 386,086 : 252,180: 76,108 176, 072 133, 906; 69, 9951 63, 911 26,0521 5,53l| 227, 934; 134, 059 3, 314 4, 597 Apr. 11.. 387, 668 252, 671 '• 75,168i 177,503; 134, 9971 69,898; 65, 099 26,902 5,805 228, 836! 134, 578 2,815 5,636 Apr. 18.. 384,578), 251,417 74,475! 176, 9421 133,161; 68, 624! 64, 537 28,U6,! 5, 678! 222, 2171 134,470 2,036| 11,978 Apr. 25.. 382,0481 249,150. 72, 942; 176, 208 132,898; 68,388j 64, 510j 26,155: 5, 512| 218,146; 133, 687 l,410| 11,530 J M M a a y y 2 9_ . . . _ . 3 3 7 7 5 4 , ,1 6 2 25 8 , : 2 2 4 42 4 , , 1 0 5 3 1 5 : - 7 7 0 1 , , 4 0 8 8 3 3 ! ; 1 17 7 3 1 , , 0 5 6 5 8 2 : 1 1 3 3 1 1 , , 9 5 7 9 7 0 6 6 7 8 , , 6 9 6 1 7 6 , ! 6 63 3 , , 3 6 1 7 0 4 2 2 5 5 , , 2 1 1 2 3 0 ! ! 5 5 , , 7 3 0 2 4 9: 2 2 1 1 4 7 , , 4 5 3 8 9 1 ' : 1 13 3 2 3 , , 1 6 9 2 1 2 1 1 , , 3 5 1 4 1 0 1 7 2, , 1 8 4 0 7 7 May 16.. 3C9, 432 : 236,410: 75,23lj 161,179; 133, 022 69,159| 63,863! 25,2501 5, 596 215,725; 132,099 596 6, 756 May 23.. 369, 664; 235,573 75,056 1(50, 517| 134,091 69,255: 64, 836| 24, 505! 5,813 214, 305: 130, 959 596 8,227 May 29.. 371,494| 238,341( 78,102| 160,239, 133,153; 69,8031 63, 350| 23, HOj 6,07^ 216, 2001 130,197 596 8,340 June 6... 375, 278! 242, 3601 83,293' 159,0671 132, 918: 69,860: 63,058 27, 726' 5, 734 225, 505 130, 590 6,503 June 13.. 376,402] 243,143 83, 878; 159, 265: 133,259 69,876 63/3S3; 27, 799; 5,998 228,299 129.937 5,925 June 20.. 377,6991: 246,245^ 84,408; 161.837! 131,454 67,863 63, 591 24, 349! 5,835 i 225,267 129,4041 2,485 4,973 June 27.. 369,491 j 237,164! 77, 7241 159,440' 132, 327: 68,397: 63,930 26,154; 6,290| 219,065: 128,043 2,346 5,030 July 3... 368.856M 235, 721h 78,141! 157, 580! 133,135 68, 9661 64,169 24,450| 5,857! 218,403: 128,229 1,912 5,658 July 11.. 371,532' 240, 534!! 81, 725 158,809 130,998 68, 593! 62,405 23, 657: 6, 352; 221, 847, 129, 505! 1,433 4,743 July 18-. 376,1271: 243,6O1N 82, 893 i 160, 708: 132,526 70, Hi; 62,415 23,8881 5, 917; 223,391 128, 803' 1,087 6,831 July 25.. 373, 773 j I 240, 858 |i 83, 309| 157, 549; 132, 915 70,812; 62,103 23,934; 6,103; 217,801; 129, 587 830 9,679 Aug. 1__. 369. 837 233, 999 : 76, 940 157,059 ^ 135,838 73, 210: 62, 628? 23, 727; 5, 632; 210, 708 128,963! 3,209 11,488 Aug. 8... 367, 998 232,407 77, 002 155, 405 135, 591 73, 483! 62,108; 22,107 6,020! 208, 263 128,771; 2, 658 10, 266 Aug. 15.. 367, 669 233, 352 76, 846 156,506: 134,317 73,154! 61,163 23,155 5,850! 207,731 128, 3941 2,494 12, 598 Aug. 22.. 368, 741 235,408 76,231' 159, 237 j 133,273 ! 72,165, 61,108 24,056 5, 787! 207, 848 129,0171 2,031 13, 268 Aug. 29. . 373,015 238, 266 76, 3561 161, 910 134, 749 I 73,464| 61,285 23,140! 6, 36li 210,828 129, 965; 1,599 12,835 I Sept. 5... 372, 377 239, 794 75, 416,' 164, 378 132, 583 i 72, 7191 59, 864! 23, 898! 6, 082' 214,164 130,184: 1,284 13, 075 Sept. 12_. 377, 693 246, 871 77,165! 169, 706' 130, 822 ' 70, 994 59,828: 26, 312| 6,074 219, 809 130,096; 905 13,968 S S e e p pt t . . 2 1 6 9 . . . . 3 3 7 7 8 8 , ,1 5 4 6 6 8 2 2 4 4 5 4 , ,3 4 6 6 9 0 7 7 5 6 , , 6 9 4 7 4 6! 1 1 6 6 8 8 , ,3 8 9 1 3 6: 1 1 3 3 3 3 , , 1 7 0 7 8 7 ! 7 7 3 3 , , 5 5 3 2 4 0; : 5 60 9 , , 2 5 5 7 7 4 : ; 2 2 4 6 , , 1 5 9 8 3 5 ! ; 5 6 , , 1 9 5 5 3 8: 2 2 2 1 0 8 , , 8 8 6 1 5 4 ; 1 13 3 0 0 , ,6 2 1 0 1 5 ! ! 1 1 , , 6 6 " 5 ~ 1 1 2 2 , , 3 1 0 1 8 7 Oct. 3__ l 382,010| 249, 357 76,832 172,525 132, 653 I 73,422! 59,231; 26, 3151 227, 700 130, 726 1,010 10,099 Oct. 10.. 390,773 257, 622 80, 526 177,096 133,151 ! 73, 495 j 59, 656' 25, 456 6,146! 234. 2381 133,967; 662 10,965 Oct. 17. 394, 992 262,118 82. 991 179,127; 132, 874 1 73,043' 59,831; 27,811j 6,166| 235,023: 134, 284 1,104 16, 237 Oct. 24. 397,1091 262, 999 85; 921 177,078 134,110 , 74, 252i 59, 858) 27, 349: 6,137i 232,694! 134, 606 823 15, 740 Oct. 31. 400, 020 267, 792 • 86,812j 180, 980; 132, 228 j 72,952j 59, 276 27, 622: 6, 072| 244, 656; 134,894: 787 8,725 Nov. 7.... 403, 745 272, 809 88, 602! 184, 207; 130,936! 72, 356 58, 580| 25, 546! 6,486! 243,637 135, 584 525 9,941 Nov. 14.. 404, 993 274, 697 : 92, 276: 182, 42i; 130, 296 ! 71,992 58, 304! 26,891! 6, 635! 239, 505 137,465 419 14,142 Nov. 21.. 400, 784 265, 379 •' 83, 770: 181, 609 135,405 1 76, 614 58, 791 j 25, 9201 6,118! 237, 714 137, 214 721 9,701 Nov. 28.. 400,498 265, 818 83,881; 181, 937j 134,680 I 75, 830; 58,850! 26, 485; 6,412, 237, 021; 137,195 313 10,122 Dec. 5... 396,916 262, 277 79, 915! 182, 362- 134, 639 ' 75, 76o' 58,879] 24, 977i 6, 235' 238,247; 137,006' 180 5,084 Dec. 12.. 399, 576 264, 474 : 78, 677! 185, 797 135,102 75, 996! 59,106! 27, 765. 6, 847| 238, 370 135, 431' 15 7,802 Dec. 19.. 396, 348 263,138 i 77, 764 185, 374 133,210 i 73, 663 59, 547! 23, 745; 6,597 229, 947: 137,398 1,328 3,809 Dec. 26_. 394, 319 261, 254 78, 559 182, 695; 133,065 ! 74,078; 26, 367j 7,222 225,051! 137,267, 1,044 10,161 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

84 FEDERAL RESERVE BULLETIN JANUARY, 192g No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] KANSAS CITY DISTRICT Loans and investments Borrow- Loans Investments i Reserve Gov- ings Date ! F e w d i e th ral Ca i s n h de N m e a t n d Tilime m er e n n t F a e t d- Total Total I [ O r n i t s i e e c s u- All other | Total G U S m o n t v a e i e t t n e e r t s d n- se O cu th ri e ti r es j re b s a e n r k ve vault deposits po d s e i - ts s b e e r a r e r n a v - l k e securities 1927 Jan. 5. 610,807 418,147^ 115,474 302,673 192,660! 96,698 95,962 55,392 13,183 489, 941 144, 536 2,218 8,823 Jan. 12. 612,873 419, 252! 116,044 303,208 193, 621! 97, 625 95,996 54,772 13, 265 492,367 145, 424 1,697 4,712 Jan. 19. 615,909 421,845, 119, 242 302, 6031 194,064: 98,847 95, 217 53,331 12, 288 489, 789 146, 238 1,697 4,643 Jan. 26. 617,644 420,964, 120,952 300,012 196, 6801 101,150 95, 530 j55,138 12,383 492,019 146, 734 1,697 4,560 Feb. 2.- 615, 471 418,161 115, 550| 302, 611 197,310 102, 538 94, 772 57,055 11, 730 493, 572 147, 205 1,697 4,339 Feb. 9_. 623, 758 425, 5891 120,645! 304, 944 198,169 102, 245 95,924' 51, 599 12,886 493,908 147,153 1,447 2,532 Feb. 16. 627,135 427, 204' 118,869! 308,335 199,931] 103, 295 96,636: 56, 757 11,775 503, 741 147, 817 1,447 4,166 Feb. 23. 624,168 424,184' 116,002; 308,182 199,984! 102, 664 97,320: 58,460 12, 987 501, 973 147, 754 1,447 4,657 i Mar. 2... 629, 575; 427, 790' 119, 6931 308,097 201, 785! 103, 717 98,068! 53, 578 11,490 502,816 148, 541 1,447 1,903 Mar. 9... 628,085; 427, 272' 119,726! 307, 546 200,813| 103, 552 97, 261 i 54, 252 12, 678 500.182 148, 797 1,283 1,586 Mar. 16.. 637, 612 j 431,916 117,469! 314, 447 205,696! 107, 712 97,984! 56, 497 11, 622 507, 568 149,129 4,656 3,873 Mar. 23.. 637,988 431, 981 119,758 312, 223 206, 0071 107, 561 98, 446! 54,353 12,318 499, 838 149,459 4,189 4,675 Mar. 30.. 633,504 | 426,949; 115, 955; 310,994 206, 555 j 106, 796 99, 7591 52, 865 12,313 497,120 150,144 4,067 3,362 Apr. 6... 624, 332 I 417, 336! 111, 640' 305, 696 206,9961 107,390 99, 6061 54,337 12, 209 497, 660 147, 798 3,786 5,184 Apr. 13.. 632, 811! I 426,156 118,066, 308, 090 206,655' 107, 447 99, 2081 51, 968 12, 555 498,630 147, 699 3,487 5,101 Apr. 20.. 632, 770! i 426,876: 118,848; 308, 028 205,894!i 107, 736 98,158; 56, 976 11, 858 498,239 148,959 2,366 6,273 Apr. 27.. 632,042 | 424, 812 117,098! 307, 714 207,230!; 109, 495 97, 735: 53, 93G 12, 485 488,677 150,159 2,224 9,170 ii May 4... 626, 597 418,140; Ill, 7l0i 306, 430 208,4571! 110, 865 97, 592! 53,707 11, 840! 484, 285 151,114 2,108 9,024 May 11-. 424,646 118,405; 306, 241 207,442 j j 109, 88^ 97, 555i 54, 013 12,315! 489,584 151,193 1,750 9,642 May 18.. 630,101 421, 260 1177987! 303,273 208,841 i 111,419 97,422: 56, 023 11,840 486,1911 151, 421 1,299 12,958 May 25.. 627,066; 418,411: | 117,971! 300,440 208,65511 108,239 100,416; 51, 777 12, 645 481, 2661 151, 529 647 11,703 June I... 623,489; 413,781! | 118,132' 295, 649 209,7081 107, 481 102,227 53, 753 11.571 482,996 151, 457 524 10, 283 June 8.-. 627,6171: 420, 720 | 123,448; 297, 272 206,897 ii 105,077 101,820' 53, 584 12, 588 483,1241 151,917 315 11,305 June 15_. 635,694! 429,102 134, 013 295, 089 206, 5921| 103, 852 102, 740! 53, 884 11,718 494, 854 151, 574 2,706 8,689 June 22.. 628,1921 422,999! 126, 930 296,069 205,193,; 101,142 104,051! 54,981 12, 061 486, 945 j 151, 679 2,644 10, 762 June 29. 629,656 i 423,706, 127,8011 295,905 205,950( ! 99,096 106, 854: 53.920 12, 550| 490,314] 151, 648 2,271 6,412 ! July6... 629,211 423, 348 131, 756i 291, 592 205, 863! I 97, 529 108, 264; 58,006 12, 3161 497, 597 152,087 1,850 7,940 July 13.. 637,674! 431,866 140,150! 291, 716 205,808!! 97,168 108,640: 55, 726 12,7131 501.044 153, 779 1,504 7,477 July 20.. 630, 218: 424, 775 130,958! 293, 817 205,443J 97,183 108, 260' 55; 474 11,836 494, 570 153, 439 1,339 4,288 July 27.. 635,417, 429,457; 135, 7 . 77 i 293, 680 205.960:; 96,428 109, 532! 53, 955 12, 354{ 495,169; I 153, 354 1,339 4,715 Aug. 3... 626,949! 423, 579' 125, 784 '••297, 795 203, 370!; 96,053 107, 317J 57,01 11,301 495, 521 152, 724 1,232 3,927 Aug. 10.. 637,638;| 432,893 134,133i 298, 760 204,745" 96, 310 108,435! 55192i 12,150 504, 736 155, 474 737 1,359 Aug. 17.. 644,362! 438, 814 137,104i 301, 710 205,548 1 95,810 109, 738| 57,250| 11, 484 504,900 155, 659 563 4,997 Aug. 24_. 640,427|J 435, 754, 135,856! 299,898 204,673 ! 97, 577 107,096; 56, 500 12,050 503,850 156,034 563 3,543 Aug. 31.. 637,8011! 431, 341 132, 289J 299,052 206,460; | 97, 983 108,477! 55, 901 11, 738 501, 513 156,087 563 2,363 Sept. 7™ 637, 960' 431, 334; 135, 392i 295,942 206,626!' 96,195 110,431 i56,453 12, 050 503,074 156, 364 113 2,112 Sept. 14.. 642,495. 431. 296; 138,071! 293, 225 211,1991! 98, 633 112, 566^ 54,946 12,443 504.183 156,813 113 3,640 Sept. 21.. 634,320 422,345: 129,050 293, 295 211.975i I 100,885 111,090: 56, 773 11,794 489,475 157,421 4,407 7,338 Sept. 28.. 628, 909| 419,475; 127, 656 291,819 209,434|; 100,442 108, 992; 52, 246 12, 749 484,144 158,373 4,382 5,414 O O c c t t . . 5 12 .. . 6 63 3 4 0 , ,8 3 4 9 8 5 ! ; | 4 4 1 1 8 9 , , 4 4 9 2 1 7 ' | 1 1 2 2 4 6 , , 3 9 3 9 5 7 2 2 9 9 4 2 , , 1 4 5 3 6 0 2 2 1 1 2 4 , , 3 9 5 6 7 8 ! 1; ! | 1 1 0 00 0, . 0 8 4 8 : 9 1 1 1 14 2 , , 0 3 7 1 9 5 j ) 5 53 3 , , 7 7 4 9 0 2 , 1 12 2 , , 2 5 9 7 1 71 4 49 8 2 6 , , 3 0 1 2 0 5! 1 15 5 7 7 , , 9 9 4 5 4 4 4 4 , , 1 1 8 8 3 3 6 6, , 3 3 4 4 6 0 Oct. 19. 638, 111' 423,435 127, 515 295,920 214,67611 100, 346 114, 330! 51,156 12, 255 478,824 158, 276 3,129 14, 766 Oct. 26. 630,768 419,695 j 125,972 293,723 211.073 I 95, 631 115, 442; 53, 532 i3,oor 482, 748 158,331 2.408 9,725 Nov. 2__. 631,801 421, 591 I 124,917 296, 674 210, 210 I 94,438 115, 772' 53, 771J 481, 255 160, 708 2, 216, 9,222 Nov. 9... 635, 258; 422, 553 i 122, 656: 299, 89" 212,7051' 94,858 117,847| 54, 680! 487,968 158, 924 1,490 8,763 Nov. 16.. 639, 572 423,427:, 126,077 297, 350 216,145 100,032 116,113! 58, 613! 496, 718 159, 989 5,322 11,838 Nov. 23.. 641, 991 ! 425, 000 ! 124,496 300, 504 216,99l! 100, 615j 116,376; 60,175i 500,973 160, 295 1,863 9,083 Nov. 30_. 641,829.| 423,474 1 124,029| 299, 445 218, 355J 102,406 115, 949; 55,4231 493,131 161,148 185 11,882 Dec. 7... 642, 716! I 427,023! | 126, 385! 300, 638 215, 693 ; 102, 344 113, 349J 55,4811 496, b96 160,809 90 7,436 Dec. 14.. 648, 634 | 429,506: 128,497J 301,009 219,128 102, 308 116,820 55, 8221 501, 684 161, 323 90 Dec. 21.. 649,011| 427, 937 i 127, 246 300, 691 221.074 ! 104, 436! 116, 638 57, 618| 496, 325 161,493 4,092 9,333 Dec. 28.. 646, 256 •. 422,4451 122,341, 300,104 223, 8111 106, 454! 117, 357| 56, 569! 495, 743! 160,310 4,092 9,082 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1029 FEDERAL RESERVE BULLETIN 85 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] KANSAS CITY DISTRICT—Continued Loans and investments Bor- "I row- Loans Investments i Reserve: Gov- ings i with Cash Net j ern- at Date iFederal in demand ment Fed- !: United I reserve vault deposits i de- eral Total Total - |All other | Total u i \ \ G S m o t v a e e t r e i r t s n- se O cu th ri e t r ies bank : posits ! s b e r a e r n - v k e [securities ji T 1928 Jan.4. 643,905; 420,190 123, 765' 296,425 223,715 ' 102, 224 121,491! 56, 755. 12,905! 498, 719; 159,844 3,526! 6,759 Jan. 11.. 645,687! 422,222 124,985| 297,237! 223,465, 103,836 119, 629; 56,802: 13, 205: 498,950! 161,616 2,668! 6,056 Jan. 18.. 648,151! 426,022' 131,634! 294, 388' 222,129! i 104,3581 117, 771 55, 730! 11, 939 491, 734i 163,047 1,918: 10,175 Jan. 25.. 645,080; 422,620: 128, 283j 294, 337| 222,460;: 104, 682 117, 778 56, 386; 11,949 491,061! 163, 767 1, 729 7, 219 I Feb. 1.. 649,7001 426,865 < 130, 2951 296, 570 222,835 ''105,455 117, 380 54, 783^ 11, 235! 493,480i 164,463 1,640 7,855 Feb. 8.. 657,680;! 435,835 137, 633' 298,202i 221,845i: 105,096 116, 749 57, 326' 12, OOG: 505, 566! 164,586 922; 7,295 Feb. 15. 659, 594 i! 438,666' 139, 378! 299, 288 220.928 M' 105,162 115,766 56,117; ll,460| 506,937! 164, 573 749; 5,541 Feb. 21. 656,276!! 434, 803 136,431' 298, 372! 221,473 j! 104,802 116,671 56,40i: 11,383 504,174 j 164, 913 749! 2,842 Feb. 29. 655, 202 | 435, 509 133,448: 302, 0611 219, 6931; 105,119 114, 5741 57, 676 11, 525 506,081; 166, 057 749 5,394 Mar. 7-. 662, 093 440, 346 135, 204 305,142; 221,747p 104,968 116, 779i 57, 783! 11,3511 512,1411 168,076 225 3,104 Mar. 14. 665,883 443,485 138,571; 304, 914' 222, 398;! 105, 290; 117,108| 58, 796 11, 885! 511, 296j 168,090 225! 6,400 Mar. 21. 669,229!' 440, 273 138, 7371 301, 536- 228,956|; 109, 345! 119,611! 57,051 11,150 504, 2841 168,089 7,0041 7,495 Mar. 28. 666, 736 j 439,5211 137,458! 302, 063! 227,215:; 106,040j 121.175 58, 902: 11. 722 503, 3911 169,062 7, 004! 7, 354 i A A A A p p p p r r r r . . . . 4 2 1 1 5 1 8 1 I i 6 6 6 6 7 8 8 7 3 2 2 5 , , , , 4 5 3 2 3 0 1 8 9 9 1 3 J 1 ' | 4 4 4 4 4 3 4 4 4 8 8 6 , , , , 1 4 1 4 8 0 5 5 4 7 9 3 l ; : ! , ' 1 1 1 13 3 2 3 6 9 9 9 , , , , 2 8 8 7 4 2 8 9 7 6 0 6 ! ; ; ; 3 3 3 3 0 0 0 0 8 9 8 4 . , , ,9 5 6 2 3 8 5 7 7 1 7 9 i j ! j 2 2 2 2 2 3 3 3 9 4 5 6 , , , , 8 3 2 8 7 2 8 5 6 5 0 8 ; : ! ! 1 1 1 1 0 1 1 1 0 7 0 0 , , , ,0 2 1 2 0 7 5 4 0 7 9 5 ; i ! ; 1 1 1 1 2 2 2 2 6 2 5 4 , , , , 0 8 0 6 3 7 4 9 5 6 8 9 [ 5 5 5 5 8 6 8 8 , , , , 4 9 9 0 5 2 7 4 5 5 3 5 1 1 1 1 1 1 1 1 , , , , 9 1 9 2 0 4 2 6 7 1 8 4 ; 5 5 5 5 0 1 1 0 0 0 3 2 , , , ,9 6 4 3 9 1 5 8 2 7 2 7 1 ! | | 1 1 1 1 7 6 7 7 6 7 7 7 , , , , 9 6 0 7 6 0 1 5 4 3 1 5 6 2 3 5 , , , , 9 7 7 5 9 6 2 5 6 9 2 2 ; : .1 1 1 1 4 4 3 8 , , , , 8 0 3 5 2 4 3 7 3 4 4 6 i | May 2__. 678,410'! 441,786; 132, 332 309,454! 236, 624 ! 109,806; 126, 818| 56,162 11,023 498,1931 177, 505 2, 576! 20,131 May 9... 675, 550: i 440,343! 129, 314; 311,029! 235, 207 ! 109,083 126,124 56, 690 11, 364 501, 612; 178,026 1, 692: 14, 544 May 16.. 678,185"! 441, 371 127, 863; 313, 508! 236,8141 111, 6381 125.176 55, 554 11,143 502,198| 178,418 1,184' 16, 827 May 23_. 675, 551 • 435,461 ; 127,115| 308, 346! 240, 090 ! 112, 296! 127, 794 55, 532 11, 786 498,9721, 178,376 827; 16, 712 May 29.. 672,976,! 433,387;! 126, 022; 307, 3651 239, 589 j 110, 952! 128,637 55,122 11,844 491,: ; 178, 642 827, 17, 581 i June 6... 666,277! 427,203; 121,826! 305, 377i 239, 074 ! 111, 278; 127,796 55,100 11,421 492,3081 178,485 16,522 June 13.. 667, 791 'j 427, 645 : 123, 457! 304,188! 240,146 110,775! 129, 3711 55, 666 12,170 499,162! 178,642! j 16,448 June 20_. 672,466 429,418 ; 126,041! 303, 377 243, 048 Ill, 305: 131, 743 54, 368 11.476 491, 725 j 178, 4581 3,914! 17,991 June 27^. 673, 657. 431,377:: 127, 238! 304,139: 242,280 j 110, 206; 132,074 56, 337 11,870 503,194) 176, 749 3,758; 12,253 i July 3-. 671,144!! 429,937 : 118,639^ 311,298: 241,2071 109,423^ 131, 784 60,107 10,425 502, 319! 176,900 3,022'j 18,182 July 11. 674,088 !i 434, 604 i 129, 261! 305, 343 239, 484 i 110, 392 129, 092 56, 219 12, 268 501.916! 177, 9901 2,264: 14,876 July 18. 684,088!: 445, 644 135, 705. 309, 939 238. 444 j 110, 425 128, 019 54, 454 11,303 502, 667| 178, 210! 1,722; 21,732 July 25. 680,745:; 442, 111,j 129, 882, 312, 229 238, 634 j 111,388, 127, 246, 56, 495 11,523 499,3511 179,082. 1,319! 19,034 j Aug. l._. 680,167!' 439,940 126, 502! 313, 438 240,227'! 114,604! 125, 623' 57, 917 10, 504 505, 672: 177,320! 5,387: 16, 336 Aug. 8__. 686, 035 445, 073, 129,153| 315, 920 240, 962 j 115, 281 125,681' 53, 314 11, 475 502, 685; 174, 487: 4,463 J17, 538 Aug. 15__ 687, 939 446, 234 130,440; 315, 794 241, 705 ! 115,319: 126, 386 57, 470 10,903 510, 247i 176, 469 4, 265! 15, 971 Aug. 22. . 680,9201 439, 409, 120, 4901 312,919 241,511 ! 115,971 125, 540 58, 432 11, 253 501, 989! 173, 576' 3, 452 15, 731 Aug. 29__ 684, 236 443, 440 133, 082; 310, 358 240, 796 114, 966 125, 830 57,146 11, 747 499, 494; 176, 634; 2, 700. 20,311 i Sept. 5... 680, 864; 437,93' 128,975 i 308, 962 242, 927 116, 225: 126, 702 56, 891 11,172 499,435: 177, 782 2, 207; 15, 074 S S e e p pt t . . 1 1 2 9. . . . 6 6 8 8 2 3 , , 4 4 5 9 8 4 ; : 4 43 4 8 1 , , 1 1 1 5 6 2 1 12 3 6 1 , , 3 2 9 0 7 2; 3 3 0 1 9 1 , ,7 9 1 5 9 0 2 2 4 4 1 5 , , 3 3 0 7 6 8 1 1 1 1 4 9 , . 5 3 3 8 0 0 1 1 2 2 5 0 , , 9 77 9 6 8 : 5 5 5 6 , , 9 2 6 4 0 2 1 1 1 1 , , 2 9 9 2 1 7 4 5 9 0 4 1 , , 5 9 0 6 8 6 : ! 1 1 7 7 8 8 , , 9 9 0 9 6 2 ! : 4 1 , , 0 5 0 7 6 2 ; ; 2 1 0 8 , ,7 5 7 1 0 6 Sept. 20.. 685,462.: 441, 332 126, 616 314, 716 244,130) 117, 294. 126, 836 53, 929 11, 752 500,878; 179, 684J 3, 202! 16,414 f Oct. 3__ 678, 322! 438,198 121, 933 i 316,265 240,124 I 117,419! 122, 705' 57,867 11,147 508, 769; 179,103' 1, eor>! 14, 327 Oct. 10. 684, 530: 444, 105! 124, 638 319, 467 240,425 i 118, 4201 122, 005 54,433 11, 955 506, 505; 179, 307 1, 254! 13,198 Oct. 17_ 685,144 440, 989| 120, 881 320, 108 244,155 ! 121, 832 122,323 56, 542 11,174 499, 396; 180, 72S; 4, 364, 19, 420 Oct. 24. 685,107, 439, 932: 117,142 322, 790 245,175 121,991 123,184 56, 610 12, 063 498, 387i 179. 741: 3, 262; 23, 280 Oct. 31_ 686,411; 442, 975^ 116, 867| 326,108 243, 436 121, 290 122,146 54,165 11,271. 503, 620; 182, 448' 3, 097J 20,114 Nov. 7... 682,188:1 439, 2981 113, 200J 326, 098 242, 890 121, 092 121, 798' 56, 838 11, 929 499,325J 180, 546'' 2, 0S4; 22, 622 Nov. 14.. 686, 954' 441,965; 115,8181 326,147 244,989 121,126' 123, 863 56, 202 11,823 506, 041 j 181,160 1, 667: 21,915 N No o v v . . 2 2 8 1 _ .. . 6 6 8 8 8 3 , , 3 7 4 9 5 81 4 44 4 0 5 , ,1 2 2 8 3 2 ; : ' 1 11 1 3 8 , ,4 5 2 0 4 9 ; i 3 3 2 2 6 6 , , 6 7 9 7 9 3 2 2 4 4 3 3 , , 2 5 2 1 2 6 1 1 2 2 0 0 , , 4 6 6 4 9 0 1 1 2 2 2 2 , , 8 7 7 5 6 3 ^ 5 5 4 5 , , 4 9 1 6 8 4 1 1 1 1 , , 4 4 9 0 2 3 4 5 9 0 5 0 , ,0 6 5 4 8 5 ! : I 1 S 8 O 0, , 6 0 4 7 0 3: 1 l , 2 5 66 l 7 ! ! 2 28 7 , . 5 0 9 1 7 2 Dec. 5... 681,5011 438, 812 111,418 327, 394 242, 689 120,181; 122, 508: 56,130 498,0311 179,57l! 422 23,811 Dec. 12.. 687,399' 444,561 115, 225 329, 336 242, 838 120,868! 121, 970 59,049 12, 345 509,103 179, 822 82! 24,448 Dec. 19. 687,951 446, 761 117,580 329,181 241,190 119, 456 121, 734 55, 437 12,196 498,026: 179, 508 3,482' 24,142 Dec. 26. 691, 804 448, 645 116, 472; 332,173 243,159 120, 287, 122, 872 58, 288 13, 999, 501,811 178, 953 2,7411 29,387 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

86 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] DALLAS DISTRICT Loans and investments Borj row- Loans Investments Reserve1 Gov- ings with ! Cash Net Time ern- at Date Federalj in demand deposits ment Fed- Total Total O r n i t s i e e c s u- All other Total G U S m o n t v a e i t e t n e e r t s n d - se O cu th ri e t r ies re b s a e n r k ve I vault deposits po d s e i - ts s b e e r a r e r n a v - l k e securities 1927 Jan. 5 386,249 313, 465 74,519 238, 946 72,784, 48, 560 24, 224 29, 945 i 11, 7331 271,353; 101,486 5,400 3,952 Jan.12 386,803 312, 961 74, 013 238, 948 73,8421 49,513 24,329 29,482 10, 950j 270,845; 102,601 3,997i 4,600 Jan.19 388, 681 316,487 75, 610 240,877 72,194": 48,712 23, 482 29, 847 10, 247! 271,749! 102,986 3,C97j 3, 656 Jan.26 384,177 312,165 75, 758 236, 407 72, 012 j 49, 030 22, 982 27, 871 9, 8801 270,195; 101,781! 3,977' 2,295 Feb.2 389,749 318,641 76,834 241,8071 71,108 48,412 22,696 28,720' 10, 018 270, 221! 103,223j 3,977! 2,213 Feb. 9 399, 686 326, 584 79, 014 247, 570! 73,102 50,322 22, 780 30,850! 10, 539 278,529; 109,381! 3,311| 1,018 Feb. 16.... 406, 592 331,841 82, 610 249, 231! 74, 751 51,533 23, 218 31,6791 9,858 287,8841 108,662! 3,3l2j 955 Feb. 23 405,393 329, 670, 81,125 248, 545; 75,723; 52,189 23, 534 31, 369' 11,357| 285, 245 j 108,479! 3,312! 1,738 Mar. 2 402,382 326,858: 77, 568 249, 290 i 75,524; 51,563 23,961 32,702; 9,33l! 281,466: 106,696, 3,3321 866 Mar. 9 404, 939 327, 228; 76, 730 250, 498j 77,7111 52,879 24, 832 30, 927! 10, 582 i 288,350; 106,357: 2,880! 679 Mar. 16.... 415,825 328, 524 79, 760 248,764| 87,30l| 62,489 24,812 31,859, 10,1981 292,055: 106,347 11,410! 1,653 M M a a r r . . 2 3 3 0 __ . _ .. _ . 4 40 1 8 5 , , 7 6 5 7 9 6 3 32 2 1 5 , ,8 0 9 7 0 5 8 8 1 0 , , 2 5 6 7 3 0 2 24 4 0 4 , , 6 5 2 0 7 5 8 8 7 9 , , 8 6 6 0 9 1 ! j i ! 6 6 1 1 , , 7 6 9 0 7 9 2 25 8 , , 0 9 7 9 2 2 3 31 2 , , 8 2 9 82 6 J ! 1 10 0 , , 4 3 5 6 0 9 j f 2 2 8 8 0 7 , , 9 3 6 9 5 9 , ! 1 10 0 7 7 , , 5 1 6 8 3 5 ! , 10 9 , , 2 9 6 6 6 0 j 1 1 , , 4 6 6 2 3 1 Apr. 6 407,592 321, 788 81,340 240,448 85,804ij 59,689 26,115 31,244! 9,636! 280,994; 107,189: 9,275; 1,866 Apr. 13 406,891 322,824 81, 734 241, 090 84,0671! 58,241 25,826 30,487! 9, 938J 286,509! 106,434 i 8,545: 1,870 Apr. 20 407, 210 321, 905 82,195 239,710 85,3051 59,426 25,879; 31,4361" 9, 614 283,3801 107,132: 5,73l! 2,315 Apr. 27 403,964 317, 718 81,105 236,613 86, 246j! 58, 256 27,9901 30,61l| 10,038 282,116| 106, 531 i 5,453I 2,705 I May 4 407,130 320, 759 83, 769 236,990 86,371! 59, 047 27,3241 29,923| 9,1841 280,505 i 107,132 j 5,1271 2,025 May 11 401,661 315,477 84,590 230,887 86,184j! 58,660 27, 524 29,237| 9,950 279, 723 i 107, 844! 4,256! 1,320 May 18 402,107 315, 751 83, 946 231, 805 86,356:i 59, 589 26,767! 29,592 j 9,206 274,988! 108,149 3,162. 1,565 May 25 402, 081 315, 569 84,315 231, 254 861^ 59, 657 26, 855 j29,321 j 9, 756! 270, 4001 108, 097 3,007: 1,980 June 1 401,167 312,168 83,124 229, 044 88,999 61,309 27, 690 30,1141 9, 5021 273,468! 108,178! 2,436! 2,825 June 8 399,313 311, 739 83,372 228, 367 87,574. 59, 727 27,847 29,067: 9,737! 272, 257j 108,668! 1,461: 2,545 June 15 411,315 316, 200 84,881 231,319 95,115 66, 564 28,551 29, 081 i 9,434 278,343; 109, 059: 10,598 1, 545 June 22 409, 259 314,129 82, 9] 6 231, 213 95,130 66, 477 28, 653 30,367 9,346 272. 2251 109,937; 10,329! 1,724 June 29 406,166 314, 232 81.457 232, 775 91, 934 64,073 27,861 28,883; 10, 160 269,952 109,734! 8,758 2,074 July 6 402, 708 310,915 78, 996 231, 919 91, 793 63, 763 28, 025 29, 879: 9, 655 267, 753 i 109, 396 7,125 2,179 July 13 404, 705 312,148 79,132 233, 016 92, 557! 65, 217 27, 340 29, 626 9,462 271, 723 109, 913! 5, 798 1,868 J J u u l l y y 2 2 7 0.... 4 40 0 2 5 , , 3 5 6 7 8 2 3 3 1 1 1 3, , 1 9 7 1 3 2 7 7 9 8 , , 8 7 7 7 5 5 2 2 3 3 3 3 , , 1 2 3 9 7 8 9 90 2 , , 1 6 9 6 5 0 6 6 3 4 , , 0 7 0 3 3 3 2 2 7 7 , , 4 65 6 7 2 2 29 9 , , 0 S 3 8 4 0! 8 8, , 7 3 4 3 8 0 2 26 7 7 0 , , 3 56 8 6 8 1 1 0 0 9 9 , , 3 4 7 83 6! 1 5 5 , , 1 1 6 6 1 1 3 2 , , 1 4 3 5 0 1 Aug. 3 399, 809 308, 707 78, 474 230,233 91,102 62, 868 28. 234 29, 575 265, 703J 110,025| 4,748 6,104 Aug. 10.... 399, f 309,506 79,472 230,034 90,402: 61, 553 28, 849 28, 606 9,123 268, 825 109,950| 2,849 5,532 Aug. 17 402, 698 312, 248 77, 529 234, 719 90,450, 61, 867 28, 583 30,127j 8,565 269, 828 109, 303- 2,180 5,942 Aug. 24 405,076 315, 5801 79.458 236,122 89,496! 60, 634 28, 862 30, 2291 9,077 268, 719 109, 732, 2,180 7,872 Aug. 31.... 409,165 319, 637 79.594 240, 043 89, 528 60, 5S5 28, 943 30, 942: 8, 727j 273, 366| 110,626i 2,182 7. 788 Sept. 7 409,290 321, 591 81,814 239, 777 87, 699 58, 337 29, 362 30, 346i 9, 788J 275, 563 110,982; 836 7,822 Sept. 14.... 413,907 325,109 81,988 243,121 88, 798 59,479 29, 319 29,140 10,370l 284,174! 110,422i 436 5, 623 Sept. 21.... 421,436 325, 520 82,017 243, 503 95, 916 65,953 29,963 30,811 9, 444! 281, 913: 110,033| 12,182 3,315 Sept. 28.... 422,845 327,432 83,579 243, 853 95,413 64,859 30, 554 29, 943 9,334 287,402 109,583| 12,182 1,454 Oct. 5 423, 726 328,150 85, 709 242,441 95, 576 64, 859 30, 717 31,832 9, 6671 290, 510 110,113 11,514 Oct. 12 423,233 328,199 84, 710 243,489 95, 034 63, 290 31, 744 34, 227 9, 7581 296, 296 109,937 11,513 O O c c t t . . 2 1 6 9 4 4 3 3 2 1 , ,1 4 4 9 4 3 3 3 3 3 5 6 , , 8 0 0 6 9 1 8 8 3 4 , , 8 7 1 0 1 1 2 2 5 5 1 2 , , 1 2 0 5 8 0 9 9 5 6 , , 4 3 3 3 2 5 6 65 3 , , 0 58 5 3 8 3 3 1 1 , , 3 7 7 5 4 2 3 33 1 , , 9 9 2 0 8 2 1 10 0 , , 4 22 0 9 7 2 29 9 5 6 , , 3 9 1 1 0 9 1 1 1 1 1 0 , ,5 3 3 7 7 2 : i 8 6 , , 6 6 0 2 4 8 1 Nov. 2 434,803! 339, 058 85, 893 253,165 95, 745 30, 856 32, 956 297,384 112,171; 6,104 Nov. 9 438,427 343, 340 87,198 256,142 95, 087 64,105 30, 982 33.922 306,197 112, 743| 4,099 Nov. 16— 446,151 343, 080 87, 230 255, 850 103, 0711 72, 044 31, 027 33, 565? 308, 506 113,0871 13,944 Nov. 23.... 440,153! 338, 680 84, 579 254,101 101,473^ 70, 041 31,432 33, 304i 306,812 113,226! 4,567 Nov. 30.... 437, 967 338, 087 85,687 252,400 99, 880j 68,465 31,415 33,857 305,618 113,457 488 I ! Dec. 7 438, 2861 339,476 87,929 251, 547 98, 810 67. 547 31, 263j 33, 313 10, 017 309, 359| 113, 266! Dec. 14.... 442, 804 343, 389 89, 738 253,651 99,415 67,862 31, 553 33,816 9,917 316,025 113,526 Dec. 21 447, 875 341, 672 89. 429 252, 243 106, 203 74,119 32, 084 33, 350 10, 312 311,420 114,218 10,51 Dec. 28.__. 444, 310 339, 626 88, 066 251, 5601 104, 684 72,414 32, 270! 34,005 10, 927i 309,8451 114,094 10,5H Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

87 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] DALLAS DISTRICT—-Continued Loans and investments Borrow- Loans Investments Reserve Gov- ings with ern- at Date Federal ment Fed- Total United reserve de- eral On secu- States Other bank posits re- Total rities All other Total Govern- securities serve ment bank securities 1928 Jan.4 434,566; 332, 847 ! 87,600 245,247 101, 719 70, 706 31,013 32,893 9, 952i 305,028; 114,599 9,054 3,350 J Ja a n n . . ,1 1 8 1 4 4 3 3 3 6 , , 5 1 7 4 6 7 1 li 3 3 3 3 0 2 , , 7 2 0 8 6 5: ; ! : 8 89 7 , , 0 7 0 35 4 ! 2 2 4 4 2 3 , , 2 9 8 7 1 1 1 10 0 3 2 , , 8 8 6 7 2 0 ! , 7 7 1 3 , ,0 7 3 32 6 J ! 3 30 1 , , 1 8 3 2 8 6 3 3 4 3 , , 4 8 4 9 3 5 9 9 , , 8 6 5 2 0 9 1 | 3 3 0 0 4 7 , ,0 7 6 8 3 4 , : 1 11 1 6 5 , , 2 5 9 4 8 1 6 4 r , 8 8 4 4 3 2 ! ; 4 2 , , 4 32 0 5 0 Jan. 25 436,543 | 334,532^ 90,167 244,365 102,011 71,1921 30, 819 33, 200 9,3151 302,298; 116,400! 4,435J 3, 692 Feb. 1 443,018l; 341,093; 92,464J 248, 629| 101,925- 71, 773 30,152 35, 544 9,44e[ 312,576; 115, 386' 4,143 3,445 Feb. 8 443,452, 341, 916 I 95,437| 246,479 101, 536 71, 742 29, 794 35,447 9, 250i 314, 0871 117,671! 2,370 1,693 Feb. 15.... 445,3461 343,043' 93, 971 249,072! 102,303 72, 962 29, 341 36,829 9, 380 317, 055 117, 877| 1,920 2,606 Feb. 21.... 441,768! 339, 73111 93, 571 246,160i 102,037; 72,835 29, 202 35,186 8,896 309,592 117, 546| 1,920 2,726 Feb. 29— 434,718 j 334,833 J 91,009 243, 824 70.892 28,993 35, 026 306,345 116, 705| 1,920 1,159 i Mar. 7 435,013'; 335,391!| 91,075 244, 316 99,622 70,104 29,518 34, 660 9,199 307,697 117,393 575 2,028 Mar. 14.... 435,680! 336,021; 92,123 243,898 99,659 70, 055 29,604 35,037 8,916 308,186 117,409 575 2,206 Mar. 21.... 445,600' 336,787! 89,882 246,905 108,813 78,492 30, 321 31, 950 8,643 299,622 118, 343 12,098 1,459 Mar. 28.... 443,569.; 335,509' 89,138 246,371 108, 060 77, 398 30, 662i 34, 022 8,781 298,295 118, 225 12,098 2,226 Apr. 4 445, 7631 337,958! 87,639 250, 319 107,805 77, 521 30, 284! 34,852 8, 700 302,222 118,179' 11,521 2,730 Apr. 11 447,400 340,195i| 89,520 250,675 107, 205 76, 623 30, 582 32, 953 9,062 302,425 120,421 4,783 Apr. 18 446,022! 338,593' 90,237 248, 356 107,429 77,113 30, 316 34, 224 8,616 299, 786 120, 781 7,152 6,045 Apr. 25.... 442,772 i 334, 279; j 89,652 244,627 108,493 77,149 31, 344 31, 945 8, 523 292, 283 121,183 4,958 6,695 May 2 444,072! 334,773'! 89, 667 245,106 109,299 77,132 32,167i 32, 837 8,586 297,419 120,942 4,612 6,932 May 9 444, 583 i 336,5361! 90,663 245,873 108,047 75, 785 32, 262| 34,196 8, 581 301,896 122,040! 3, 025 3,902 May 16.... 442,168 ! 333,905, 90,180 243, 725 108, 263 75,556 32, 7071 33, 845 8, 036 301, 527 122,075J 2,101 4,062 May 23.... 440,425 j 332,073;| 91,233! 240, 840! 108, 352 75, 892 32,460! 33,366 8,879 294, 384 122,413| 1,472 5,705 May 29 437,567 328,273; 88,433 239,840 109,294 76,516 32, 778' 33,108 8,337 289, 794 122,753 1,484 7,517 I June 6 437,5281 328,072! I 87,879; 240,193 109,456 76,130 33,326| 32, 638 8,709 289, 664 125,784.... 7,606 June 13 437,997 i 328,8311 86,610 242, 221 109,166 76,151 33,015 32,553 8,630 291, 582 125,883; 7,016 June 20 449,171j 330,263'! 87,057 243,206 118,908 85,033 33,875: 33,169 8,394 287, 775 125,514; 17,134 6,787 June 27 455, 496 i 333,843;; 88, 964 244,879 121, 653 83, 357 38,296' 33, 444 9,264 288,460 130,480 16,467 5,832 i July 3 451,224 1 331, 677|! 90,170 241,507 119, 547 81, 222 38, 325i 32, 256 8, 653 286, 709 130,748 13,220 6,935 July 11 454, 241 i 335,191 ii 90, 708 244,483 119, 050 80,184 38,866i 33, 979 10, 042 293, 457 133, 662 9, 798 6,121 J J u u l l y y 2 1 5 8 4 45 5 5 9 , ,1 0 1 2 9 6 ! I 3 33 3 2 8 , , 9 5 5 8 7 0 ; ! ; 9 89 1 , , 9 2 9 9 5 2 2 24 4 3 6 , ,5 6 8 6 5 5 1 1 2 2 0 2 , , 5 0 3 6 9 9 8 8 1 2 , , 6 34 6 9 5 3 39 8, , 8 7 7 2 4 0 ! ; 3 33 4 , , 6 32 0 5 4 8 8, , 8 6 1 3 7 2 2 29 8 2 6 , ,9 3 7 1 6 4 1 1 3 3 3 1 , , 5 8 2 6 0 9 1 5 7 , , 5 7 3 90 5 1 1 2 5 , , 7 2 3 3 0 2 Aug. 1 458, 664'j 332, 756 ! 89,788 242,968 125,908 85, 786 40,122j 33,425 8,811 281,086j 131,934; 11,543 19,513 Aug. 8 459,5611 335,530 i 92,183! 243,347 124,031 86,184 37,847j 32, 277 9,187 283,489 129, 660; V" 22,978 Aug. 15.. _. 456, 776 333, 560 i 90, 339| 243, 221 123, 216 85,149 38, 067| 32,101 8,544 287, 695 129, 411} 6,622 20,981 Aug. 22.... 450, 735 331,298; 89,909j 241, 389 119, 437 81, 652 37, 785 i 32,834 9,041 281,749 128,470! 4, 885 20,159 Aug. 29 450, 758 332, 501M 88,468 244, 033 118, 255 80,122 38,133; 32, 932 9,319 283,166 128, 218 3,900 20,076 Sept. 5 453, 784 334,514!! 87, 848 246, 666 119, 270 80, 778 38,492- 32,533 9,124 291,179 128, 358J 3,121 19,833 Sept. 12. __ 458, 621 340,974 91,819 249,155 117,647 79,575 38, 072; 36,131i 9,429 303, 299 s 129,028! 2,222 19,820 S S e e p p t t . . 2 1 6 9. . . _ - _ 4 4 7 7 4 8 , , 6 2 0 7 4 3 3 3 4 5 8 1 . ^ 6 7 0 3 1 3 ! 9 90 3 , , 5 2 3 9 4 4 ; i 2 26 5 1 5 , ,1 3 9 0 9 7 1 12 2 7 5 , , 5 0 4 0 0 3 8 8 6 8 , , 9 6 8 4 5 9 3 38 8 , , 3 5 5 5 4 5 ' ' . 3 33 2 , , 8 3 9 2 5 5 j 9 9, , 4 0 3 9 7 1 3 30 0 3 1 , , 5 6 8 5 5 8 ! ! 1 1 3 3 0 1 , , 2 9 6 2 3 8 ; 1 1 3 0 , , 4 0 4 5 1 5 2 1 2 7 , , 2 2 8 1 1 7 I Oct. 3 473,193'! 349, 681'I 88,117J 261,564J 123,512 81, 700 41,812 33,804 8,863 304,178.' 130, 750l 6,217 21, 023 Oct. 10 474,219' 351,3131 95, 010 256, 303; 122,906 82,851 40,055; 35,3451 9, 4461 311,435 131,494; 4,083 17, 512 Oct. 17 480,047. 354,991! 92,593: 262,398; 125,056; 86, 607 38,449! 37, 310 8,928 314,163 129, 677j 13,921 16,986 Oct. 24 481, 242 : 358,835! 90, 268: 268,597| 122, 407| 84,925 j 37,482> 35,518 9, 953 313, 407 130.052: 10,397 19, 411 Oct. 31 482,169; 1 361,478 i 90, 834: 270, 644; 120, 691 82,964 37, 727: 34, 755j 9,080 312, 893 130,641; 9,875 16, 797 Nov. 7 477, 244'j 356,568;l 91,800: 264, 768! 120, 676 82,907! 37, 769' 35,514;' 10, 213 312, 687 131,115 6, 661 19, 250 Nov. 14. __ 479,210; 358,978!l 93, 520: 285, 458; 120, 232 83,050: 37,1S2 34, 253! 9,479j 320, 382! 131,408 5, 313 14, 291 Nov. 21.._ 478, 759:! 359,581i 94,410' 265,1711 119,178 81,553! 37, 625 36, 3151 9, 5081 311,984! 131,520 5, 313 14,918 Nov. 28.... 482,621; 363, 090; 93,183 269, 907; i 119,531 81,531; 38, 000 36,5411 8, 921: 316, 666| 132,143; 3,984 15,602 Dec. 5 479, 352 : 359,470;! 90, 546! 268,924| 119,882; 81, 626; 38, 256 35, 005: 318, 652 132,435| 1, 346 16, 532 Dec. 12 477, 730 358,780|; 91, 892 266,888; 118,950 80.893 38, 057 37, 619i 9,840: 323, 6991 133,473; 270 13,531 Dec. 19.-.. 501,934 363,0501! 95,159; 267,8911 138,884 100, 707 38,177 34. 714j 9,944i 316, 705J 138,848; 23,228 14, 733 Dec. 26.... 497,473 363,697'i 96, 845: 266,852! 133, 776 94, 714 39, 062 35; 772! ll30l! 316,909! 139,510! 18,286 13,492 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

88 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] SAN FRANCISCO DISTRICT Loans and investments Loans Investments '; Reserve ! with Cash i Net Date Federal; in I demand United : reserve vault I deposits Total Total On ri t s i e e c s u- All other Total G S o t v a e te r s n - I 'se O cu th ri e t r i es : bank . merit i securities I 1927 !| Jan. 5 1,668,056! 1,223,634 309, 263 914,371 444, 422' 244, 772i 199, 650i 102,615' 22,1001 Jan. 12 1, 651,172, 1,209, 645 303, 914 905. 731 441, 527 241, 307 200,220 108, 31l| 21,2301 Jan 19 1,644, 7411 1,202,654 297,393 905, 261 442,087 248,450! 193,6371 104,6761 19,832! Jan. 28 -- ~ - 1,643,856, 1,200, 235 297,159 903,076 443, 621; 248, 541; 195,080| 104,758; 20, 260 Fob 2. l,629,558;l 1,195,784 295,990 899, 794 433, 774 237, 229' 196,545 102,260 18,951; Feb 9 1,633, 000 i 1,197,195 298, 715 898,480 435,8051 238, 253 197,552 104,340 21, 097: Fpb 16. ._ . 1,642,3951 1,201,482 304,092 897, 390 440,913 242, 076 198.837J 105,272 18,611! Feb. 23 1,668,338 1,236,312 315,442 920,870J 432, 026 236, 599 195, 427: 99, 926 21, 463' i Mir . 2 1, 683,482 1, 235, 513 314,045 921,468 447,969 238, 684' 209,285! 101,710 20,172i 734, 12,206 49,824 Mar. 9 1,675, 769 1,237, 564 302,1841 935,380 438, 205 230, 509 207,6961 100,935 20,405 720,332 881,894 11,034 39.412 Mar. 16..._ 1,706, 222 1, 234,213 307,343! 926,870! 472,009 262, 490 209,519 104,018 19,521; 754,818 874,361 41,916 34,313 Mar 23 1,698,454 1, 228, 643 921, 748! 469, 811 i 257, 893: 211,918 101,831 20, 074 730,474 866,329 37,726 46,568 Mar 30 1,702,150 1,225,666 307,018 i 918,648 476,484 | 258,843 217,641; 102,155 21,869| 726, 788, S79,133| 36,560, 32,471 Apr. 6 ! 1,675,108, 1, 209,228 302,531! 906,697 465,880 I 253, 574 212,306! 104,860 19, 671 721,726 868,590 34,078 43,342 Apr. 13 ! 1,689,568 1,224,351 i 306, 792 917. 559; 465, 217 254, 345 210,872; 102,964 20, 229 743, 656 871,588] 31,399 41,520 A A p p r r . . 2 2 0 7 __ J j 1 1 , , 6 6 9 9 0 1 , , 2 4 5 5 7 3 1 l, , 2 2 2 2 7 2 , , 0 7 7 5 2 7 ! 1 ! | 3 3 0 0 8 7 , ,1 8 4 5 3 7 9 91 1 9 3 , , 9 9 0 2 0 9, 4 46 6 4 7 , , 5 3 0 8 0 1 I j I I 2 2 5 5 7 6 , , 6 4 6 1 1 9 2 2 1 0 0 7 , ,7 0 2 81 0 1 ! 1 1 0 0 0 5 , , 3 0 6 5 8 5 2 1 0 9 , , 1 26 1 0 8 7 73 4 6 6 , , 4 8 1 7 8 9 , 8 8 0 6 6 0, , 4 9 1 2 6 1 : 2 2 1 0 , , 3 0 1 4 7 1 4 3 5 9, , 2 5 2 8 5 5 May 4 ! 1,697,072 1,231,630 I 309, 783 921,847: 465,4421 255,118 210,324! 103,288 18, 938 744, 298 802,676' 18,839 44,293 May 11. 1,704,660 1,235,931 i! 311,867 924, 064; 468,729.1 260,287 208,4421 104,274 19,887 750,843 883,244! 15,635 26,543 May 18., 1,703, 068 1,234,8551S 312,440 922,415; 468,213 I 262,693 205,520! 105,197 19,230 751, 709 886,553; 11,628 32,566 May 25.. 1, 694, 350 1,229,245! 310,246 465,105 I 201. 688 203.417; 107,800 19, 693 745,619 879,495; 11,049; 20,731 Junel 1,684,277 1,229,128:; 310, 738 918,390; 455,149 | 256, 594 198,555; 109,433 20,027 755,033' 873,986J 8,949 22,437 June 8.._ 1,688,093 1 1,228, 384!| 312, 799| 915, 585, 459, 709 ! 250, 579 203,130! 101,405 19,926 747, 358 878,029, 5,369 25,617 J J J u u u n n n e e e 2 2 1 9 2 5 ! 1 1 1 , , , 7 7 7 1 0 1 5 0 2 , , , 1 0 8 5 1 1 9 9 5 1 I 1 1 1 , , , 2 2 2 2 2 3 5 8 2 , , , 6 5 9 0 4 3 6 0 6 , ! ! ! 3 3 3 1 1 1 2 6 1 . , , 7 4 2 8 2 3 4 3 0 ) 9 9 9 1 1 1 6 6 3 , , , 1 8 7 1 8 1 0 2 3 ! , 1 4 4 4 8 8 7 4 2 4 , , , 3 2 2 5 2 7 3 3 5 | 2 2 2 7 7 6 8 0 7 , , , 9 6 5 1 7 3 3 0 5 2 2 2 0 0 0 7 3 0 , , , 5 4 7 5 4 4 3 0 0 ! | ! 1 1 1 0 0 0 3 1 2 , , , 4 9 1 1 4 0 4 8 2 2 1 1 1 9 8 , , , 2 6 94 6 6 4 8 7 7 7 7 3 5 3 2 6 8 , , ,8 8 7 1 1 6 0 9 2 , 8 8 8 7 6 8 4 9 1 . , , 7 5 4 7 8 4 0 0 5 : 3 2 3 1 6 2 , , , 4 1 4 0 7 7 4 0 r 2 3 2 8 4 7 , , , 0 2 4 6 8 1 6 5 4 July 6 j 1,671,444 1,201,713:1 309, 253 892,460 469,731 204, 0511 205, 080 98,828; 23, 003 727, 959' 866,401 21,295' 32,383 July 13 1,605,424 1,202,921;' 306, 09^ 896, 824J 462, 503 202, 340 200,157 103,755: 22, 299 748, 795 85S, 654 17, 328i 20, 128 July 20 ; 1, 656, 342 | 1, 198, 388 I 304, 7021 893, 6S4j 457, 956 202, 8441 195,112; 104, 350: 19, 549 739, 255| 847, 924 15,422! 32,795 July 27 1, 654,020 1,196,499 303,882 892, 617j 457,521 263, 409 194,052; 101,8221 19, 956 739, 895| 841,168' 15,422] 33,390 Aug. 3— 1,641,937 1.189, 586: 300, 549 889,037! 452, 351 200, 700 191,65ll 101,539: 19, 907 735,98li 836, ?,58: 14,188 39, 759 Aug. 10- 1, 641, 705 1.190, 051 j 301, 670 888, 381 j 451, 654 258, 548 193, lOfij 102,491; 19,542 752,109! 834,769 8,513 29, 014 A A A u u u g g g . . . 3 2 1 4 7 1 . . - . . 1 1 1 , , , 6 6 6 4 4 5 2 1 2 , , ,1 8 7 2 8 0 0 3 0 1 1 1 , , , 1 1 1 9 9 9 0 6 1 , , , 5 6 0 0 8 5 8 4 8 3 2 3 0 0 9 2 3 8 , , , 1 0 0 0 5 2 5 2 2 8 8 8 8 9 9 8 3 3 , , , 6 4 0 3 0 3 2 3 6 ! ' ; 4 4 4 5 5 5 6 2 0 , , , 0 0 3 1 0 7 6 2 5 ! ! ; 2 2 2 0 0 0 1 1 0 , , , 8 0 7 3 2 9 0 0 9 1 1 1 9 9 8 0 4 9 , , , 1 4 5 8 4 7 0 2 0 ; 1 1 1 0 0 0 6 2 4 , , , 1 9 2 9 7 7 7 7 1 1 . | 1 1 19 8 9 , , , 9 4 7 1 7 5 0 9 0 7 7 7 5 4 5 8 8 0 , , , 8 9 6 3 9 0 3 3 0 1 , ! i 8 8 8 3 3 2 7 5 7 , , , 1 2 2 8 7 9 7 5 5 . , ; 6 6 6 , , , 5 5 5 1 1 1 3 3 3 3 3 3 0 5 0 , , , 9 5 5 6 4 8 7 6 6 Sept. 7— 1,644,373 1,170,926 301, 584 869, 342:' 473,447i| 201, 904 211,543! 99.279: 761, 530! 828,437, 1,302 34, 972 Sept. 14.. 1,662,256 1,181,696! 309, 370 872, 326 480, 560 259, 700 220, 854: 102, 303 22,020 781, 008! 840, 501 1, 302 9,137 Sept. 21_. l,686,406i! 1,187,497] 306,938 880, 559 498, 909 . 275, 633 223,276: 100,023 19,990 764, 078! 845,796 32,129 23, 484 Sept. 28.. 1, 684,491.:' 1,186, 811 ! 310, 258 870, 553, 497,680j; 275,110 222,5701 105,518 20, 413' 744, 934! 852,500 32,129 28, 022 i Oct. 5_._. 1, 709, 364 : 1, 206, 338 I 315,172 891,166- 503.020!: 278, 2.58 224,708 101,714 20,107 748,348' 865,028! 30,212 38, 863 Oct. 12__ 1,715,230 1, 213,014 •'• 314,473 898, 5411 502,216!i 279, 538 222,678 109,880 20, 047! 757, 304! 800,641 30,212 52,095 Oct. 19... 1,707,628:: 1,204,014! 314, 365 889, 649' 503,014:' 277, 945 225,009, 105,895 20, 7281 700, 642| 854,134 22,587 35, 286 Oct. 26— 1,689,193 1,187,302! 311, 276 876, 026 501, 891 i[ 277, 561 224,330 103,935! 19,911 i 752, 804.! 844,767: 17,395 30,047 I I Nov. 2... 1,694,898! 1.193,7821 314,769 879, 013: 501,116!! 270, 700 224,350 103,677: 18,930 744, 909: 855,035 16,000 32, 813 Nov. 9... 1,698,920 1,194,852; 317,045 877, 807 504,068ij 270, 071 227,397! 108,202. 20,014 759, 769; 864,235 10,759 27,891 Nov. 16.. 1,728,657:: 1,197, 449 | 322,929 874, 520: 531, 208 i 301, 279 229,929; 108,930 19,912 784, 5021 842,153 48,329 24, 524 Nov. 23.. 1,744,174 'I 1,201,103- 325, 574 875, 529 543,071: 307, 495 235,576; 104,636 20, 670 783,527i 859,046 16,880 34, 423 Nov. 30.. 1,744,733 1,199,749; 322,145 877, 604 544, 984 ii 311, 580 233,398| 106,707 21, 374! 799, 635 868, 607 1, 69135, 713 Dec. 7... 1.764,544: 1,217, 502 i 329, 787 887, 715 547, 012 I 315,990 231.052 108, 726^ 21,978! 799,820! 874,586 842 42,892 Dec. 14.. 1.766,869 1,223,369! 333,819 889, 550 543, 500 , 310, 028 233,472 115,917 23,197: 818, 633| 869,311' 842 39,254 Dec. 21.. 1,786,166 1,227, 727 i 337, 684 890, 043 558, 439 , 323, 690 234,749! 109,487: 24,04li 809, 655 867,096 22,585 33,213 Dec. 28.. 1,770,646. 1,217,8201; 338, 431 879,389; 552,820 i 316,128 236,698! 112,357; 23, 654; 802, 680 876,632; 22,5S5| Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

89 JANUARY, 1929 FEDERAL RESERVE BULLETIN No. 3.—PRINCIPAL RESOURCES AND LIABILITIES OF REPORTING MEMBER BANKS IN LEADING CITIES, BY FEDERAL RESERVE DISTRICTS: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars. For total for all districts see Table No. 2] SAN FRANCISCO DISTRICT—Continued I Loans and investments Borj row- Loans j Investments iReserve; Gov- ings ; with I Cash Net ern- at Date ;Feder:,lj in Ti ment Fed- Total United ! re b se a r n v k ee! vault po d s e i - ts e r r e a - l Total ; On r it s i e e c s u- All other Total G S m o t v a e e t n e r t s n- I se°cJu5r?it[i£es I s b e a r n v k e securities 1928 i Jan. 4 1,779,241! 1,222,275:- 337,495 884,780 556, 966 322, 546 234,420; 111,997 22, 843 812, 9451 898,956 19,175 27,883 Jan. 11__ 1,783,365: 1, 223,154 334, 097 889, 057 560,211: 320, 871 239,340: 116,165: 22,163: 820,128; 919, 593 14, 495 22, 288 Jan. 18 , 1,801,547: 1, 220,449 331,052 889, 397 581, 098 340, 252 240,8401 107,785' 20,193 814,497 914, 703 10,436 49,189 Jan. 25 ! 1,795,009 1,216, 042 i 328,185 887,857 578,967; 337, 374j 241, 593; 108,152; 19, 445 798, 546j 919,874 9,395 46,990 Feb. 1 i 1,804,315; 1,222, 206: 332,452 889, 754| 582,109 339, 29?! 242, 8121 110,557^ 19,170 791, 438! 918, 085 8,924 49,305 Feb. 8 : 1,799,865' 1,215,594 325, 671 889,923 j 584, 271 343, 722 240,549: 112,177! 20, 80G 787, 29(>! 923, 238 4,672 50,078 Feb. 15 1,814,21S; 1,221,532 331,614 889, 918! 592, 686 349, 702 242,984 114,077 21,156 810, 554j 932, 359 3,786 47,383 Feb. 21 i 1,827,678; 1,231,575 337,715 893, 860i 596,103 347, 534 248,569, 108,023 20, 4.17. 790,198! 921, 749 3,786 53,778 Feb. 29 I 1,814, 867 j 1,231,457 334,197 897, 260! 583,410 333, 803 249, 607! 109, 684j 20, 66o 785, 746; 933, 07ll 3, 7! 61, 678 i '•• Mar. 7 ; 1,815,676'! 1,245, 031 •'• 337,317 907, 714 570, 645' 324, 534| 246, 111! 100,039! 21,055! 752, 387: 943,116! 1»134 63, 082 Mar. 14 i 1,826, 673 I 1, 248, 597 | 346,134 902, 463 578, 076 329, 756! 248,320! 104,538! 21,929 788,149: 937, 7701 1,134 62, 885 Mar. 21 i 1,833, 416 I 1, 234, 643 i 337, 844 896, 799 598, 773 347, 482j 251,291; 103, 971: 20, 313' 768, 659! 927, 569! 36, 337 60, 330 Mar. 28 | 1,825, 977 i 1,231,580! 335, 623 895, 957 594, 397. 345,156 249,241 107,129, 20,951; 771,114| 924,872 36,337 44,074 Apr. 4 i 1,831,538 1,240,3361 347, 212 893,124 591,202. 343, 7151 247,487! 108,844! 20,447: 777, 3451 923,384 34,900 52,448 Apr. 11 1,837,296 1,247,175! 350, 872 896, 303 590,121 343,715 246, 406i 109, 435' 21,110 798, 442j 926,852; 30,730 46,530 Apr. 18 1,845,047 1,253,858;; 357.638 896,220 591,1891 343, OoOi 248,139! 110,096: 19,827, 802, 020! 926, 0761 22,124 61, 724 Apr. 25 j 1,846,087 1,251,4161 358,115 S93, 301 594,6711 351,7151 242,956! 108,988 21, 045; 801,991; 933,924 15,388 60,144 il ; May 2 j 1,836,820 1,244,722! | 360,352 884, 370 592,098 346,9731 245,125; 110,847 21, 008; 801, 821j 928, 347 14, 261 64,568 May 9 i 1,834,976 1,242,184.! 352, 870 889,314 592,792 342, 516 250, 276! HO, 630; 21,9431 796, 275 936, 806 9,357 51, 990 May 16 ! 1,858,274"] 1,247,901;! 351,616! 896,285 610, 373 | 348, 688 261,6851 107,702 20,183 814,158 937,435 6,551 56,052 May 23 ; 1,853, 520 | 1,219,058:; 358, 808J 890,250 604, 462 355,180! 249,282 110,190' 20, 535! 7S5,939 939, 335 4, 585 57, 777 May 29 | 1,847, 534 j 1,247,373; 356, 676 890, 697 600,161 354, 843J 245,318i 110,574' 21, 267| 785, 617 j 942, 645 4, 585 57, 319 June 6 | 1,861, 3211 1.256,334:1 363,190 893,144 604. 987 355,491 249,496 107,647! 20, 547! 790, 835; 941,581 63,120 June 13 i 1,855,740! l,257,668ii 356,883 900, ~" 598,072 347, 5001 250,572; 113,100: 23, 652: 820, 347' 941,981 60,867 June 20 1,857,432 1,245, 821'' 343. 8581 901,963 611,611 353, 740! 257, 871! 111,609' 23, 713! 804, 078; 931, 799 53,505 21,547 June 27 1,852,759! 1, 245, 342 ] 343, 903! 901, 439 607,417 350, 431| 2£6,986| 108, G84- 24,170; 774, 874; 943, 526 51,366! 25,170 July 3 1,855,536 1,241,716.1 341,6771 900,039 613,820 349, 495 264, 325* 112,411! 25,185 776,890! 956, 839 41,283| 50,719 July 11 1,836,354 1,236, 709i 341,980i 894, 729 599, 645 I 346,954 252,691 111,970! 22,667: 784,869 942,989 30,961! 43,438 July 18 1,848,849 1,241,320' 347,865 893,455 607,529 350,596 256,933 110,817! 20,669, 786,336! 936, 727 23,531| 53,861 July25 ! 1,841,134 1,232,664, 349, 038 883,626 608,470 i 349, 837| 258,633! 110,605; 20,416; 768,098| 938, 261 18,071; 60,759 I : Aug. l._ | 1,842,777 1,233,401! 343,154; 890,247 609,376 j 348, 512! 260,864 107,695' 20,126! 770, 594 938,273 26,462! 56,969 Aug. 8 ' 1,843,505 1, 234, 577: 342,375| 892,202 608,928 348, 7G9 260,129 108,284! 20,451! 764,477j 937,478 13,810; 66,271 Aug. 15 • 1,854,935 11, 249,4621 347,925! 901,537 605,4731 344, 441 261,032 107,498 19, 860 783, 748 933,237 11,100' 69,316 Aug. 22 I 1,853, 764 i 1,247,591; 347.639 899, 952 606,1731 346, 911 259,262! 108,415: 19,889; 767,631j 932,278 7,820 73,989 Aug. 29 j 1,849,713! 1, 244, 059; 348, 702 895,357 605,654; 343, 643 262,011| 107,265! 21,492! 772, 265, 942, 077 5,691! 78,901 Sept. 5 l,862,81lji 1,254,169; 351, 337 902,832 608, 6421 346,845 261, 797 109,953 20,696 772, 415| 946,474 4,55l! 93,238 Sept. 12 1,858,947!! 1,255,026! 349,403 905, 623 603,921 j 345,136 258, 785 112, 553 21,605; 805, 716 942, 236 3,242: 93,436 Sept. 19 ! 1,874, 328!i1,247,183; 351, 835 895, 348 627,145 368,346 258, 799J 112,490! 20, 426; 800,283: 931,997 32,428! 81,518 Sept. 26 | 1,873,2531 1, 254, 095 355, 916; 898,179 619,158 358, 460i 260, 698| 109,999; 20, 587 j 786, 356 943, 824 25,942| 57,699 Oct. 3 ! 1,871,844'! 1,252,999 ! 353, 526! 899,473! 618,845 355, 749! 263,096^ 113,424J 20,162' 795,579! 936, 542 15,449: 70,216 Oct. 10 ! l,877,869j 1,263, 763 ! 362, 707 901, 056 614,106 | 352, 622J 261, 484: 109,457| 21,114' 795,659] 943,204 10,139! 68,142 Oct. 17__ ..._! 1,888,957; 1,263,409 ; 362, 571 900,838; 625,548 362,770! 262,778: 112,876 20,264! 811,677 939,224 17,552 71,205 Oct. 24- ___! 1,890,573 1,259,691 i 360, 707j 630, 882 368,662! 262,220' 111,419! 20,539 794,472 935,137 13,109! 71,690 Oct. 31 ! 1,888,216 1,261,885 i 364, 576| 897,' 309, 626, 331 363,568i 262, 763; 111,327; j 20,265| 800,676 941,490 12,456| 64,041 Nov. 7 j 1,888,7091 1,270,882! 367,037 903,845! 617,827 354, 979 262, 848| 111,218! 20, 8371 808,393: 941,190 8,375 69,092 Nov. 14 1,899, 849'j 1,285,4111 376, 385 909, 026 614,438 357, 381 257,057| 116, 503 21,947! 839, 314j 941, 772 6,701 60,677 Nov. 21. _ ! 1,899,546 1,288,020 i 381, 948 906,072! 611,526 354,633 256, 893: 115,2751 21,0681 810,624! 940,801 6,701 60, 581 Nov. 28-_ __J 1,901,352 I 1,288,603 j 383,1191 905, 484! 612, 749 I 354,119 258,630, 109,125 20,987| 809, 963| 938, 273 5,025 66, 990 i Dec. 5 i 1,921,803 I 1,299,249 | 382, u_. 916,581! 622, 554 i 355, 267 267,287 113.970 21, 349 812, 791 953,236 1,696; 65,596 Dec. 12.__ ! 1,917,903 i 1,295,461 376, 305J 919,156 622,442 ! 358,422 264,020 112, 779! 22,497 817,136 960,192 338j 50,170 Dec. 19 ! 1,971,0211 1,314,099 1 380,605 933,494 656, 922! 389, 574 267, 348 112,203 23,657 804,884 960,482 61,92l! 59,088 Dec. 26 ! 1,967,445 | 1,314,043 379,229 934,814 653,402 | 388,002 265,400! 113, 879 25, 630 796,026- 968,854' 48,703! 49,299 I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

90 FEDERAL RESERVE BULLETIN JANUARY, 1929 No. 4.—BANKERS' BALANCES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927, 1928 [In thousands of dollars] Due to banks Due from banks Date New C i Y t o y rk i j le O c a i t t d h i i e e n s r g Dis S t a r n ic F t rancis C c i o ty Total Y N C o e i w r t - k y l O e c a i t t d h i i e e n r s g Dis S t a r n ic F t ra j n c C is i c t o y 1927 Feb. 2.. 3, 324, 975 1,100, 362 2, 224, 613 241.175 130, 244 1,196, 878 96,690 , 100,188 121,652 47, 486 Feb. 9- 3, 273, 714 1,046,887 2, 226, 827 255, 839 141, 504 1,125,449 89, 371 , 036,078 134, 640 47, 603 Feb. 16. 3,329,146 1,108, 408 2, 220, 738 240, 223 125, 609 1,188, 071 99, 769 , 088, 302 131, 492 49, 218 Feb. 23. 3, 247, 440 1,106, 089 2,141,351 230, 083 110,916 1,169, 948 88, 086 , 081, 862 154, 709 64,139 Mar. 2 3,368, 774 1,126, 765 2, 242, 009 230, 914 113,373 1, 243, 792 100, 576 ,143,216 137, 354 55, 645 Mar. 9 3, 326,323 1,122, 445 2, 203, 878 227, 933 113,291 1,181, 717 90, 065 , 091, 652 141,396 53, 275 Mar. 16 3,375,819 1,153,112 2, 222, 707 219, 421 106, 569 1, 250,106 116,196 ,133,910 162, 885 63, 777 Mar. 23 3, 216, 056 1, 083,518 2,132, 538 198, 659 90, 826 1.131, 501 98, 219 1, 033, 282 127, 695 49, 469 Mar. 30 3,190, 908 1,105, 661 2, 085, 247 205, 864 96,215 1.122, 603 96,117 1, 026, 486 135, 375 49, 689 Apr. 6 -- --- 3,323,484 1,136,136: 2,187, 348 210, 244 94,134 1,179, 273 96,322 1, 082, 951 140, 403 51, 589 Apr. 13 3,241,882 1.072,769 !2,169,113 218. 638 98, 581 1, 201, 052 110,449 1,090,603 146, 631 51, 754 Apr. 20 __-! 3,202,388 1,098,048 i2,104, 340 208, 613 94,007 1,156,524 109, 775 1,046,749 140, 056 50, 771 Apr. 27 3,177, 004 1.110.512 i2, 066, 492 204, 052 92, 941 1,137,121 109, 751 1,027,370 133, 557 49, 212 i May 4—. 3,339,134 1,167,828 !2,171, 306 219, 319 100, 382 1, 204,025 111,197 1, 092,828 140,903 50, 931 May 11- 3, 230, 231 1,103,584 i2,126,647 216,379 96, 615 1,173, 782 101, 691 1, 072, 091 146,445 49, 892 May 18.. 3, 208, 586 1,114,832 !2, 093, 754 219,162 100. 957 1,168, 475 103,856 1,064, 619 143, 080 53, 203 May 25.. 3, 093,188 1,080,881 i2,012, 307 201, 019 95, 595 1, 092, 330 S9, 976 1, 002, 354 130, 833 51, 275 June l-_. 3, 291, 998 1,211,289 l 2, 080, 709 211, 570 99,920 1, 204, 238 105,945 1, 098,293 151,105 57,625 June 8... 3,163, 362 1,100,279 ;2, 063, 083 206, 543 98, 245 1.123, 727 93,481 1, 030, 246 143, 439 50, 931 June 15_. 3, 350, 868 1,271,782 2,079, 086 201, 532 95, 288 1, 215, 690 97, 915 1,117, 775 142,186 51,167 June 22_. 3,111,905 1,113,675 '1,998, 230 201, 201 99,598 1,102, 767 90,611 1, 012,156 138, 356 55, 358 June 29.. 3,191,923 1,156,532 !2,035, 391 214. 004 106 336 1,086,474 86, 399 1,000,075 137,924 52,492 July 6... 3,443, 675 1, 234,100 2, 209, 575 219,085 106, 392 1,185, 765 110, 371 1,075,394 j141, 433 54,477 July 13.. 3, 350,143 1,174, 929 i2,175, 214 228, 334 113,356 1,192,129 90, 295 1,101, 834 151,127 52,138 July 20.. 3, 253, 514 1,153, 324 !2,100. 190 218, 489 109, 2S8 1,118,179 85, 415 1, 032, 764 141, 322 52,180 July 27.. 3,150, 931 1,094,025 :2,056, 906 209,154 104, 652 1, 071, 719 83, 838 987.881 134,951 50, 279 Aug. 3___ 3, 321, 811 1,164,218 !2,157, 593 208, 303 99, 856 1,133, 218 87,138 1,046,080 j138, 327 49,112 Aug. 10- 3, 305, 080 1,152,186 i2,152,894 218, 670 106, 588 1.132, 982 83,056 1,049,926 S 151, 538 51, 742 Aug. 17- 3, 317, 204 1,165,229 !2,151, 975 223, 742 113,901 1,141,440 90, 689 1,050,751 |152, 746 56, 634 Aug. 24- 3, 256, 372 1,124, 782 i2,131, 590 223, 962 110, 005 1, 087, 275 79, 279 1,007,996 144,062 54,826 Aug. 31- 3, 331, 945 1.191,485 j2,140, 460 219, 207 106, 648 1,119, 246 86.487 1,032,759 I144, 053 54, 249 Sept. 7— 3, 416,741 1,174,269 2,242, 472 213, 017 104,067 1,154,980 83,967 1,071,013 '145,156 54, 377 Sept. 14.. 3, 408, 567 1,182, 085 2, 226, 502 219,431 109,183 1, 244,120 87,294 1,156, 826 157,199 60, 529 Sept. 21_. 3, 337, 335 1,181,112 2,156, 223 207, 579 103, 355 1,183, 085 108,934 1, 074,151 154, 525 62, 843 Sept. 28- 3, 327, 377 1,170,918 2,156, 459 215,571 106, 339 1,164, 921 101, 097 1, 063, 824 151, 983 £7, 634 Oct. 5 -._ 3, 582, 843 1, 261, 800 2, 321, 043 223,611 109,444 1, 286, 693 115,340 1,171, 353 155, 312 58, 645 Oct. 12 3, 442, 622 1,168, 034 2, 274, 583 226,022 I 108, 779 1, 278, 045 118,372 ,1,159, 673 156, 850 55, 971 Oct. 19 3,473, 578 1, 224,125 2, 219, 453 222,590 '112, 628 1, 229,138 106,501 1,122,637 151,095 57, 077 Oct. 26 3, 372, 381 1,181, 876 2,190, 505 212,798 ;109, 371 1,191, 487 102,648 1. 088, 839 141, 538 55, 576 Nov. 2_. 3, 608, 964 1, 327, 555 2, 279, 409 223, 601 116, 672 1, 254, 605 112,215 1,142, 390 143, 702 56, 305 Nov. 9- 3, 565, 508 1, 272, 217 2, 293. 291 254.176 138, 480 1,222,781 102,960 1,119,821 165, 143 63, 338 Nov, 3, 710,143 1, 325, 368 2, 384, 775 247,221 !127,773 1, 342, 856 105,769 1, 237, 087 166,716 69, 204 Nov 3. 589. 983 1. 256, 384 2, 333, 599 251,240 128, 516 1, 257, 669 97.488 1,160,181 172.196 69, 997 Nov 3, 758,114 1, 437, 069 2, 321, 045 244,501 128, 044 1, 262, 593 101,688 1.160,905 168, 251 75,146 Dec. 7-_ 3, 662, 482 1. 288, 603 2, 373, 879 256,946 134, 834 1,199, 440 96,532 1,102, 908 i165, 501 70, 723 Dec. 14. 3, 575, 746 1, 291, 317 2, 284,429 250,285 130, 649 1, 231, 285 96,915 1,134, 370 |167,173 70,112 Dec. 21. 3, 522, 647 1.281.513 j 2, 241,134 228,804 118, 691 1,194, 835 106,348 1,088,487 |161, 736 71, 871 Dec. 28- 3, 560, 038 1,265,637 | 2, 294, 401 234, 554 120, 948 1, 210, 260 110, 233 1,100,027 !164, 679 69, 277 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JANUARY, 1929 FEDERAL RESERVE BULLETIN 91 No. 4.—BANKERS' BALANCES OF REPORTING MEMBER BANKS IN LEADING CITIES: REVISED FIGURES, BY WEEKS, 1927, 1928—Continued [In thousands of dollars] Due to banks Due from banks Date Total New C i Y ty ork le O a t d h i e n r g San Francisco Total Y N o ew rk le O a t d h i e n r g San Francisco cities City cities District City District City 1928 Jan. 4... 3,940,062 1, 473, 639 242,763 ! 1, 383,181 1, 249, 620 170,773 73, 004 Jan. 11_. 3, 754, 837 1, 383,721 242,592 ! 1,247,926 1,141, 798 174,335 64,660 Jan. 18.. 3, 654,850 1,316,469 227,228 | 1, 237,129 1,126, 505 170, 799 70,164 Jan. 25_. 3, 610, 465 1,316, 944 220,601 | 1,180, 050 1,081,034 163, 083 67, 218 Feb. 1... 3, 779, 025 1,435,240 2, 343, 785 220,739 I 1, 216, 945 110,746 155, 293 64, 071 Feb. 8... 3, 603,076 1,272,469 2,330, 607 221,310 ! 1,147, 984 96,955 158,285 65, 035 Feb. 15.. 3,647,700 1, 309, 520 2, 338,180 224,250 ; 1, 243, 934 106, S96 170, 805 69,303 Feb. 22. 3, 476, 942 1,240,813 2, 236,129 215.414 1,132,270 107, 500 151,435 63,338 Feb. 29.. 3, 625, 050 1, 394, 904 2, 230,146 216, 584 1,166, 477 102, 408 158,194 61,777 Mar. 7 3,647,356 1,326,879 2, 320, 477 238,145 129,636 1,141, 258 98,845 163, 249 61, 825 Mar. 14 3,610,641 1, 357,391 2, 253, 250 219, 547 116,460 1,191,875 ji 100,087 155,673 59, 557 Mar. 21 3,448,699 1, 283, 237 2,165, 462 204, 954 110,408 1,169,420 ! 120, 797 168, 546 67, 068 Mar. 28 i 3,447,668 1,303,108 2,144, 560 214, 291 112,005 1,140,578 |j 120,342 154, 040 58, 897 Apr. 4 ! 3,646,820 1,378, 738 2, 268, 082 215,417 114,015 1,248,423 !| 160, 238 60,856 Apr. 11 i 3,461,864 1,271,886 2,189, 9.78 220,360 117,623 1,182,706 ;' 149, 919 55,166 Apr. 18 I 3,416,532 1, 252, 834 2,163. 698 218,431 119,096 1,179, 581 146, 918 55,131 Apr. 25 i 3,291,910 1, 219, 859 2,072, 051 200, 885 105, 587 1,123, 403 138, 737 53, 708 May 2 ! 3,508,037 1,333,695 2,174,342 203,252 j 1,229, 665 1,106,026 151,440 58, 055 May 9 i 3,363,400 1,239,899 2,123, 501 200,211 1,152, 761 1, 038,389 152,860 57, 726 May 16.. 3,336,699 1,251,361 2, 085, 338 196,496 1,188, 429 1, 076,236 147, 610 56. 947 May 23 3,186,742 1. 203, 293 1,983, 449 185.826 I 1,098,405 986, 442 138, 741 54, 556 May 29... 3,165,380 1, 208,191 1,957,189 182,485 ' 1, 092,202 980, 938 131, 956 52, 211 June 6 j 3,202,228 1,167, 476 2,034,752 188,043 1,108, 727 1, 008,189 137,093 53, 996 June 13 i 3,178,231 1,157,107 2, 021,124 201,173 1,148,402 1,044, 083 151,196 58, 574 June 20. ! 3,118,662 1,155,711 1, 962, 951 199, 574 1,129, 748 1, 018,828 158, 685 66,865 June 27 j 3,083,969 1,157, 845 1,926,124 195,106 1, 077, 903 978,125 137, 787 54, 523 I July 3 I 3,385,008 1,305,176 2, 079,832 105, 929 1,098,399 148, 749 58,393 July 11._ | 3,187,833 1,149,749 2, 038, 084 104,710 1,041,898 149, 928 56,198 July 18 I 3,078,058 1,098,422 1, 979, 636 100, 790 1, 005, 287 143, 297 52,862 July 25 j 3,051,396 1,144, 825 1, 900, 571 91, 923 963, 249 132,867 50,804 Aug. 1... 3,175, 248 1, 228,197 947, 051 185,105 89, 781 102,859 1, 007,335 136,300 49, 565 Aug. 8_._ 3,042, 710 1, 088, 655 954, 055 193, 662 92,840 85, 741 937, 737 131,868 48, 965 Aug. 15.. 3, 027,766 1, 093,400 934,366 185, 763 91,420 85, 062 972, 926 134,644 44,613 Aug. 22- 2, 952, 722 1, 061, 208 891,514 177,993 88, 651 86,275 950, 564 134,934 51. 782 Aug. 29- 2, 956, 698 1,080,871 875,827 176, 628 87, 652 77, 695 924,079 125,136 50, 229 Sept. 5... 3,128, 653 1,135,353 993,300 194, 732 94,432 1,023,238 137, 915 53, 306 Sept. 12_. 3.133, 764 1,134, 987 998, 777 202,844 98, 723 1,048,398 147, 821 53,094 Sept. 19.. 3, 228, 614 1,132,405 096,209 213,910 112.269 I 1,061,369 158, 858 63, 538 Sept. 26.. 3,184,421 1,134,793 049, 628 205,070 104,396 1,026, 622 140,144 53, 293 Oct. 3 3,398,617 1,184, 827 2,213,790 210, 663 104,937 I1,196,299 ! 143,135 53,894 Oct. 10 3,255,650 1,116,224 2,139, 426 213,760 105,457 1,138,254 ; 140,028 49, 942 Oct. 17 3,374,533 1, 246,184 2,128,349 206, 773 1,230,854 | 149,156 56, 462 Oct. 24 3,161,269 1,156,536 2, 004, 733 190,274 1,128,776 ! 134, 724 51, 613 Oct. 31 3,299,946 1, 272,192 2, 027, 754 198, 744 1,153,982 | 138, 552 54, 789 Nov. 7 i 3,311,442 1,193,185 2,118,257 206,427 101, 849 1,193,410 98,495 1,094,915 141,674 53,473 Nov. 14 3,347,765 1,191,886 2,155,879 213,495 104,635 1, 266, 204 111,263 1,154,941 154, 972 57,088 Nov. 21 3,229,170 1,181,009 2,048,161 208, 061 104, 838 1,192, 238 114,705 1,077,533 143, 993 54,373 Nov. 28 I 3,189,465 1,183,288 ! 2,006,177 197, 999 98,278 1,149, 344 105, 668 1,043, 676 137,434 50, 915 Dec. 5_. 3, 321, 603 "1,185,060 2,136,543 204,371 98, 739 1,191,322 102, 787 1,088, 535 139,460 52, 693 Dec. 12. 3,228, 578 1,166,371 2, 062, 207 204,814 101, 610 1,163,066 101,242 1,061,824 140,984 49,894 Dec. 19. 3,201,990 1,155,343 2, 046, 647 195,008 99, 566 1, 206, 547 123, 650 1,082,897 152,886 64,606 Dec. 26. 3,223,873 1,153,819 2,070, 054 196,107 99, 291 1,160,170 110,635 1,049, 535 137,128 53, 523 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE DISTRICTS — BOUNDARIES OF FEDERAL RESERVE DISTRICTS -—BOUNDARIES OF FEDERAL Rt-SERVE. BRANCH T^RRITORSES ® FEDERAL RESERVE BANK CiTIES 9 FEDERAL RESERVE BRANCH CITIES O FEDERAL RESERVE. BANK AGENCY Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis