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 Corpo- 
ration 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.