II. BANKERS’ DEPOSITS AS A FACTOR IN THE CHICAGO 
MONEY MARKET 
The funds of banks on deposit in Chicago banks constitute a large 
part of the supply of the money in this market. Something of the 
significance of this may be seen in the fact that the volume of bankers’ 
deposits on June 30, 1927, as reported by Chicago banks was 357% 
millions. It is the aim of this section of the present study to make an 
analysis of these deposits in order to show the movements of this fac- 
tor in the money market. 
The period selected for study is 1900 to 1925 inclusive. This 
period is of sufficient length to reveal whatever of secular trend, sea- 
sonal variation, and cyclical movement the data may possess. The 
source of the data for national banks and state banks are the Reports 
of the Comptroller of the Currency and the State Auditor of Public 
Accounts of Illinois respectively. The study falls into the following 
divisions : 
(a) Central Reserve City Banks 
(b) All National Banks 
fc) State Banks 
rd) All Chicago Banks 
Each of these divisions will receive consideration in turn. 
A. CENTRAL RESERVE CITY BANKS 
The central reserve city banks of Chicago number 12.3® Out of a 
total of 220 banks these 12 largest of the national banks hold approxi- 
mately 70 per cent of the bankers’ balances. This same group of banks 
represents about one-third of the total bank resources of the city. Since 
this relatively small class of banks holds so large a proportion of out- 
side bank funds and may therefore be quite properly spoken of as 
bankers’ banks, considerable space will be devoted to an analysis of 
their data. 
By the term bankers’ deposits is to be understood those funds on 
deposit which are owing to other banks. The figures covering the 
volume of these deposits are found in the “Due to Banks” item as 
reported by the Chicago banks.»* No attempt is made to subtract from 
the item “Due to Banks” the amounts which banks have on deposit 
with other banks—“Due from Banks”—in order to arrive at net bank- 
ers’ balances; a separate analysis is made of “Due from Banks.” 
“There are 35 national banks in Chicago. 
“Due to” or “Due from” Federal reserve banks is not included in bankers’ 
deposits or “Due from Banks.”