28

BANKING STANDARDS

from year to year in the ratios with respect to their positions in a
given year relative to the average for the period 1919-1923, it does
not indicate the percentage amounts. The latter are summarized
In Table 15. Not only did ratios which were high in a given year,
relative to the average for the period 1919-1923, tend to decrease
in the following year, and those which were low (similarly determined)
 tend to increase, but the net amounts of percentage fall
and rise, respectively, varied directly with the percentage variations
 from the seven-year district levels. Ratios of investments,
as of loans and discounts to earning assets, tend to revert to type
—the type in this case being the average for the period 1919-1925
for all member banks in each district.
The percentage amounts and signs by which the ratios of investments
 to earning assets by districts and by years differ from
the yearly averages for the twelve districts combined are presented
in Table 16. The signs in this table are the opposite of those in
Table 10 for ratios of loans and discounts to earning assets; the
amounts of divergence are peculiar to the investment ratios.
Summary Table 11 shows certain of the districts to have relatively
 low, and certain of them to have relatively high ratios of
loans and discounts to earning assets during the seven years; the
opposite tendency with respect to ratios of investments to earning
 assets characterizes these same districts. If the caption headings
 of this table are interchanged, the tenacity of position of the

TABLE 16

PERCENTAGE DIFFERENCES OF DISTRICT AVERAGES OF RATIOS OF
INVESTMENTS TO EARNING ASSETS FOR ALL MEMBER
BANKS, FEDERAL RESERVE SYSTEM, FROM AVERAGES
FOR THE COUNTRY AS A WHOLE

FEDERAL
RESERVE
DISTRICTS

»oston......
New York...
“hiladelphia.
Meveland....
ichmond. ..
itlanta. .....
hicago.....
t. Louis. . .
‘finneapolis.
{ansas City.
Jallas.......
>an Francisco

Average
1010-25)

~ 4.39
+ 6.46
‘41.39
120.14
-16.903
—2 22
— Cc rr
~32.06
- 7.03

PERCFNTAGE DIFFERENCES ¥*ROM THE COUNTRY’S AVERAGES

gre

1019

1920

1021

1022

1023 | 1024 | 1035

I~ u
+4 “aq
1

Q

— 6 go
:

+ 3
dey omy
»

St

— 0.0%
+12. 50
+46.4°
+7.9,

= IL.4¢
+11.0
+

— I.
410.8
+36.8
+74.62
- a

— 4.84
+ 9.51
431.64
+1x4.37
—20.18
—26.31
- 8

- 2.03

+ 1.12

+ 0.20

-_ uy.

sa.I7

—12.07

88
. 67
~10.0!