[32 
BANKING STANDARDS 
in 1920, one in 1921, and two in 1922.2 In 1919, 1923, 1924, and 
1925, they were generally lower than their own seven-year levels. 
This is true of all districts in 1925, and of all except four districts 
in 1910, three in 1923,% and one in 1924. Generally speaking, 
therefore, years of relatively high and of relatively low net earn- 
ings, measured in terms of the respective district levels, were com- 
mon throughout the whole System, a condition similar to that 
observed for certain ratios analyzed in preceding chapters. 
But further analysis is needed in order to take account of the 
directions of change—plus or minus—{from year to year in the 
different district ratios. The nature and the percentage amounts 
of change are given in Table 83. Between 1919 and 1920 the 
TABLE 83 
PERCENTAGE CHANGE FROM YEAR TO YEAR OF YEARLY DISTRICT 
RATIOS OF NET EARNINGS TO EARNING Assets IN ALL MEM- 
sir BANKS BY YEARS AND FEDERAL RESERVE DisTRICTS 
Prom ans CHANGE FROM VAR TO Year 
FEDERAL RESERVE DISTRICTS 
— —————————— 
Average 
{All Districts) 
Boston. ....... ye dB EEE 
New York. .....coovenvecnnnns 
Philadelphia. ... - coo cen 
Cleveland...... ..covavienennn 
Richmond. .....oovveneeecnenn 
Atlanta. ..oveereocecernoroanes 
ThiCAEO. cv vvreniereenaeaen 
louis. viii 
finneapolis.....covvveercnenes 
{ansas City... ..oovvvvennenns 
dallas... viii 
aT Francis . oo oe vseens ones 
1919 
to 
1020 
410.42 | 
+ 9.45 
+rq.36° 
+13.33 
t12.00 
+. r.73 
Se. 
RN 
+ i 
> aL 
1920 | 1921 
to to 
1021 toa 
+ 6.13 
To 
+. 
1 
+ 
—~ A.00 
-8 
- 
1022 
to 
10922 
—X2.1! 
—10.26 
—r .82 
- 80 
eo 
0 
1923 
to 
1024 
rr 
3.23 
—- 4.00 
- 0.90 
f.38 
- 
$ 
fo) 
1024 
to 
1925 
- ~9 
1 9.40 
— 2.06 
— 4.42 
+ 3.22 
—- 5.90 
+ .6o 
~- 44 
5 «..50 
F.3.50 
= 0.00 
£ 0.00 
—_ 6.20 
ratios in all but three districts increased. Moreover, with the ex- 
ception of Dallas, all of the districts showing a rise between 1919 
and 1920 were low in 1919 relative to their own district level. 
Of the four districts with ratios in 1919 higher than these levels, 
the ratios in three decreased between 1919 and 1920. Between 
1920 and 1921 net earnings decreased in five and increased in 
seven districts. By 1921, however, a general downward move- 
ment set in and continued until the close of 1925, all districts, 
except three between 1921 and 1022, one between 1922 and 1923, 
three between 1923 and 1924, and four between 1924 and 1925, 
“3 Tn one district, Atlanta, the ratio was the same as the seven-year average.