*4

BANKING STANDARDS

TABLE 351

PERCENTAGE DIFFERENCE FROM DISTRICT AVERAGE, 1019-1925, OF
RATIOS OF GROSS EARNINGS TO EARNING ASSETS FOR ALL MEM-BER
 BANKS, BY YEARS AND FEDERAL RESERVE DISTRICTS

FEDERAL RESERVE
DISTRICTS

d0stown..... oe
New York...... ....
Philadelphia.... -....
Cleveland. ...........
Richmond............
Atlanta. ....cc000-0i0
Chicago. ...ooeeene. on
St.Louis. ...ooo0en.s
Minneapolis. .....
Kansas City....
Dallas. .......
San Francisco.....

PERCENTAGE DIFFERENCE FROM DISTRICT AVERAGE, 1910-1925
raz 1923 | 1024 1925

eI
- ,.02
-~XI.55
~10.1]
yc not
Lf

«3
+ .4
-2.7
-

+ 6.4
t17.5
+ 5.0
+ 2.4
+ ” 3
+ <a

= .49
—6.80
+ .08
+2.58
+1.57
-3.13
4.7%
a;
9.C
X.73
-4.55
4+ .43

LL

equal, to be attracted to regions where rates are high and to be
deflected from those where rates are low. In spite of this fact,
however, district differences in the ratios of gross earnings to
earning assets, as will be seen later, tend to persist over a series
of years. Yet the years in which rates are relatively high or low
in one district tend also to be high or low in others.
From Table 50 it was seen that for all districts combined, the
rates were higher in 1920 than in 1919, and in 1921 than in 1920.
[n 1921, a recession began, lasting through 1925, except for a
slight revival in 1924. Accordingly, it is well to observe the
nature and amounts by which the ratios in the different districts
changed from year to year in order to determine the similarities,
if any, which obtain. A summary of such changes, expressed on a
percentage basis, is given in Table 52.
How nearly are the directions of change, true for the country
as a whole, duplicated in the respective districts? This table
shows that in all of the districts, except Minneapolis, the rates
were higher in 1920 than in 1919, and in all except Richmond,
higher in 1921 than 1920. Contrariwise, all of the districts except
 three (Philadelphia, Cleveland, and Richmond) followed the
downward trend experienced by the combined districts between
1921 and 1922. A decrease—by unequal percentages—between
1922 and 1923 occurred in every district. Complete uniformity
in the direction of change does not obtain among the various districts
 between 1923 and 1924 and between 1924 and 19235, although
 between the latter years, in all but three of the districts,