BANKING STANDARDS
TABLE 203
DIRECTION OF THE YEAR-TO-YEAR CHANGES IN THE PROPORTIONS OF
DirreERENT TvPES OF SECURITIES TO ToTAL BONDS AND
SeEcUurITIES HELD BY NATIONAL BANKSX

LY

YEARS
(Ending
June 30)

DirectIoN oF CHANGE, BY CITIES
AND CLASSES OF NATIONAL BANKS

TYPES OF SECURITIES

United
States

Central
Reserve
Citipa

Other |
Reserve [Country
Cities

1919-1920
1920-1921
1021-1022
1922-1023
1923-1024
1024-1025

Railroad Bonds...........

3
+
J

+
+

-+
+
+
+
+

1910-1020
1920-1921
1921-1922
1922-1923
1023-1024
1024—10Q2F%

+
+
+
+

Other Public Service Corporation
 Bonds. ..

+
- +
- J +
- +
do

Stock Other than Federal
Reserve Bank Stock... ...

1919-1920
1920-1921
1921-1922
1922-1923
1923-1924
1024—~10Q2°%

+

1

+
+
+
==ie



Collateral Trust and Other
Corporation Notes. . . ....

1919-1920
1920-1921
1921-1922
1922-1923
1023-1024
1024—102¢%

+
+

*Data taken from the Reports of the Comptroller of the Currency.

own median rates, in the same years, the median amounts in 26
of the 34 cities being those for 1924. That is to say, in general,
that what is true by districts for gross earnings ratios tends to
be true by geographical areas and by cities for discount rates
on prime commercial loans.
There is another way in which district and city differentials
in interest rates, the similarity of their changes from period to
period, and their regression tendencies may be measured. From
data showing the average rates charged by member banks on
customers’ paper rediscounted with Federal Reserve banks,!?
“19 Te Thirteenth Annual Rebort of the Federal Reserve Board, 1926, pp. 97-99.