The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-01-21


from BOB member banks in Il
The week saw a large return flow
TO the banks of the Federal Reserve
notes and other currency concurrently
with considerable liquidation of out
standing loans and discounts. Cur
rency thus received apparently was
used by the member banks to reduce
their own Indebtedness at the reserve
banks.
Reductions In Loans.
All classes of loans show substan-
tial reductions for the week. Loans
secured by Government obligations
by $23.000,000. loans secured by cor
porate obligations-by $32. 000, 900, and
all other loans and discounts, COM
prising largely commercial and indus.
trial loans--by $45,OOO,006. Core
spending changes for member banks
In New. York city include reductions
OF $12,000,000 in loans secured by
Government obligations, of $31, zoo. 900
In loans secured by corporate obliga-
tons, and of about 81 100000 in COM
mercial loans proper.
Investments Of the reporting banks
In United States bonds, largely Lib
erty bonds, show an increase of $11,.
100000 for the week and of 100000
. WV oAhASO JohudEy II VI idSI year.
! Holdings Of Victory notes increased
during the week by about $4,000, 900
and those Of Treasury notes show a
decrease of 100000. Member banks
IN New York city report nearly the
same changes during the week in
their holdings Of these three classes
\ Of Government securities. Holdings
Why the reporting institutions Of Treas.
ury certificates show a reduction Of
37.000,000. while like holdings of men,
Der banks in New York city show an
increase Sof 100000 for the week.
Investments OF the reporting insti-
tutions In corporate and other securi-
ties show practically no change. while
the member banks in New York city
report q reduction for the week Of
$a,000,000 under this head. Total loans
ana Investments, in consequence of the
changes noted. are shown 800. 000, 900
less than the week before. the CORE
spending reduction for member banks
in New York city being $23,o00,000.
g.. Accommodation.
Accommodation Of the reporting
member banks at Federal reserve
banks, in connection with the substan-
tial return flow Of currency during the
week, shows a reduction from $647 ,000,-
900 to 1891 zoo, 900, or from a. to 3.6
per cent Of the banks total loans and
Investments. For member banks In
New York city a decrease from $685.
10000 to $s7.000,00 in total borrow
ings from the local reserve bank and
from 2.6 to per cent In the ratio Of
accommodation is noted.
Deposits.
Government deposits with the re-
Aporting institutions decreased about
1880 900 during the week. Net de-
mand deposits show an increase Of
81 200, 900 and time deposits an in
crease Of 5000 900. Member banks in
New York city report a reduction Of
$4,000, 900 in Government deposits, a
decrease Of $22, 1000, 900 in other demand
deposits met, due in part to moderate
Withdrawals of balances by out-of-
town banks, and a gain Of $4,000, 900
In time depositsa.
Reserve balances of the reporting
institutions with the Federal reserve
banks show an increase of $11 100000,
while cash in vault, composed largely
| of Federal reserve notes, declined about
H Si1 900, 900. Member banks in New
York city report a reduction Of $S,000.-
900 in their reserve balances and no
change in their cash holdings.
Citizens Savings Dinner.
The officers, directors and employees
\ of the Citizens Savings Bank and
\ those connected with the institutions
new mutual savings and insurance de.
partment were entertained by l.. E.
Breuninger, president Of the institu-
ton, at the City Club Thursday night.
Mp. Breuninger presided and during
the evening William Mather Lewis
smoke of thrift activities now being
\ conducted throughout the country.
MI. Lewis referred to the splendid
having proclivities Of the American
people during the recent war, out
aid IL was evident from present con-
ditions that the majority only de-
nriyed themselves because they were
working for q purpose. He attributed
hsrd times to the extravaganza OF
many OF those who were 80 frugal
when forced to be, and declared that
q was the duty Of every loyal Ameri.
ran to appreciate the necessity OF
,ayins at this time. when the coun.
Nv returns to the same frugality 1t
iisplayed during the war;" he said,
sthen. and not until then, will pros
bsrity come back"
other speakers on the new savings
nsnrance- plan inaugurated by the
sitixens' Bank were Judge John w.
prioe. counsel, and Roy Neuhauser,
strector of the company; Ed Callow,
s,nnorary head Of the new insurance
Hna rtment;. Fernand Petit, cashier
Ssthe hank, and Vincent A. Hughes,
= the Hughes Financial Corporation.
m were enthusiastic over the success
q the movement.
.Rolfe e. Boiling, until recently
,rss,dent of the Commercial National
Rank and now vice president OF the
yhatham Phoenix Bank, OF New
Sork city, was visiting in the finan.
TAI district yesterday.
James Cahill formerly vice
aank Yesterday sailed for Miami,
SIa. for several months vacation,