Full text of Annual Report of the Federal Reserve Bank of Kansas City : Operation of Federal Reserve Bank of Kansas City, 1919 : Fifth Annual Report to the Federal Reserve Board

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OPERATION OF

Federal Reserve Bank
of Kansas City




1919

FIFTH ANNUAL REPORT
TO THE

FEDERAL RESERVE BOARD

ANNUAL REPORT
of the

Federal Reserve Agent
of the

Tenth Federal
Reserve District
to the

Federal Reserve Board

COVERING




THE

CALENDAR

1919

ASA E. RAMSAY.
Chairman and Federal Reserve Agent

YEAR

DIRECTORS AND OFFICERS
OF THE

Federal Reserve Bank of Kansas City
DISTRICT No. 10
DIRECTORS
CLASS A

CLASS B

C. E. BURNHAM (1920), Norfolk, Nebr.
I. C. MITCHELL (1921), Denver, Colo.
W. J. BAILEY (1922). Atchison, Kan.

H. W. GIBSON (1920), Muskogee, OkU.
THOMAS C. BYRNE (1921), Omaha, Nebr.
M. L. McCLURE (1922), Kansas City, Mo.

CLASS C
ASA E. RAMSAY (1920), Chairman, and Federal Reserve Agent
R. H. MALONE (1921), Denver. Colo.
FRED W. FLEMING (1922), Kansas City, Mo.

MEMBER ADVISORY COUNCIL
E. F. SWINNEY, Kansas City, Mo.

OFFICERS
J. Z. MILLER, Jr., Governor
C A. WORTHINGTON, Asst. to Governor
L. H. EARHART. Assistant Cashier
J. W. HELM, Acting Cashier
G. E. BARLEY, Assistant Cashier
JOHN PHILLIPS, Jr., Assistant Cashier
C. E. DANIEL, Assistant Cashier
E. P. TYNER, Assistant Cashier
M. W. E. PARK. Assistant Cashier
C. K. BOARDMAN, Assistant Federal Reserve Agent,
Secretary Board of Directors

OMAHA BRANCH
E. D. McALLISTER, Cashier
O. T. EASTMAN, Manager
G. A. GREGORY, Acting Assistant Cashier

DIRECTORS
J. C. McNISH, Omaha
O. T. EASTMAN. Omaha
R. O. MARNELL, Nebraska City

LUTHER DRAKE, Omaha
P. L. HALL, Lincoln

DENVER BRANCH
C. A. BURKI1ARDT, Manager

P. R. FREDMAN, Acting Cashier

DIRECTORS
A. C. FOSTER. Denver
C. C. PARKS, Denver
JOHN EVANS. Denver

C. A. BURKHARDT, Denver
ALVA ADAMS, Pueblo

AUDITORS
S. A. WARDELL, Auditor
A. E. BOLT, Assistant Auditor



T. GORDON SANDERS, Auditor Omaha
Branch
R. W. SMITH, Auditor Denver Brmnch




OPERATION OF THE
FEDERAL RESERVE BANK OF KANSAS CITY
IN 1919
Notwithstanding the war activities of 1918, viewed from the
volume of business transacted, service rendered to member
banks, and the financial result of operation, the year just closed
has been the most remarkable in the history of this Bank. Reference is made to Schedule "B," for detailed comparative statements of condition of the Federal Reserve Bank of Kansas City
and Branches, at the close of business December 31, 1915, 1916,
1917, 1918 and 1919.
Financial Results of Operation.
The gross earnings from operations for the year were
$4,961,481.91. The expenses were $1,186,069.34, leaving net
earnings of $3,775,412.57, in addition to which there was added
$147,949.58, which amount was withdrawn from the account
previously established for depreciation on United States Bonds.
The total net profits were therefore $3,923,362.15, or at the rate
of 102.8 per cent per annum on the average capital. The revenues received from discounts were $3,888,839.25; acceptances,
$340,875.06; interest on Government Securities, $405,399.83;
bank transfers, $198,748.86; penalties for deficient reserves,
$106,704.52. The large items making up the aggregate expenses
were: Officers' salaries, $91,604.11; clerical and other employes,
$479,379.52; rents, $31,819.50; telephone and telegraph, $15,967.63; postage and express, $81,236.62; printing and stationery,
$49,781.97. The total actual operating expenses for the year
were $891,544.61. The cost of issuing and redeeming Federal
Reserve currency was $131,339.12; tax and expenses on note
issues, $81,820.72; currency shipments, $27,075.04, while furniture, fixtures and equipment for the year cost $54,289.85.
Comparing the net earnings of $3,775,412.57 for 1919 operations with the earnings of previous years indicates in a very impressive way the enormous changes which have taken place, both
in sentiment of the Member Banks and necessity for accommodations during the year. The business for the year 1915, including the six weeks of 1914, showed a loss of $23,480.06; 1916
showed a net profit of $158,202.97; 1917, $717,684.67; 1918,
$2,762,708.02. The total gross earnings since organization have
been $9,840,046.68; total expenses, $2,412,512.90, leaving a net
profit from November 1, 1914, to the close of business December
1, 1919, of $7,427,533.78.




3

Dividends were paid during the year 1919 aggregating
$228,755.50; the balance, $3,694,606.65, was carried to surplus
account, which increased that item to $6,116,033.36. During the
five years the total dividends accrued and paid have been
$969,694.44.
Reference is made to Schedule "A," for the 1919 balance
sheet as of December 31, 1919, as compared to those for December 31, 1918, 1917, 1916 and 1915.
Discount Operations.
The loan transactions of the Federal Reserve Bank of Kansas
City for the year 1919 were practically double those of 1918 in
number and amount. A total of 16,024 transactions were handled for an aggregate amount of $1,555,596,621.30, compared
with 9,240 transactions for an aggregate of $833,520,562.37 for
the previous year. The aggregate amount of discount transactions for either the entire year of 1915 or 1916 is now frequently
exceeded in a single day, and the combined total of all discount
transactions since the organization of the bank in 1914 to the
close of business December 31, 1918, is nearly a half billion dollars less than the amount of transactions handled in 1919. The
detail of discount operations is exhibited by Schedule "C" of this
report, from which it will be observed that the heaviest increases
have been in paper secured by Government obligations. The
business activities of the district, however, are to a very large
extent reflected through this class of paper, since paper secured
by Government war obligations has been used as the most convenient method of borrowing.
Notwithstanding the efforts of the Federal Reserve Board
and this Bank to check credit expansion, the demand for loans
in this district has been heavier during the last half of the year
than during the first six months. There was a steady growth
in the volume of discount transactions culminating in October,
when the aggregate amount of loans handled was the highest of
any month during the year, although the daily average earning
assets of the bank were at their highest point during the month
of December. There was no month during the year when any
considerable amount of liquidation was apparent; in fact, the
continuing heavy demand at the close of the year is rather disturbing when consideration is given to the seasonal demand with
which we will undoubtedly be confronted early in the spring.
Trade Acceptances.
The use of trade acceptances has not grown to any considerable extent in this district, being confined mainly to the distribution of oil. The educational program of credit men and the
large wholesale concerns has not resulted in any noticeable
change in methods on the part of mercantile establishments.



4

Acceptances.
The volume of bankers' acceptances originating within the
Tenth District has been proportionately small, and the number
of transactions representing offerings of this class of paper by
local Member Banks has increased but slightly. The management of this Bank has continued its policy of participating from
time to time in open market acceptance transactions, both foreign and domestic, with the Federal Reserve Bank of New York.
Schedule "D" provides a record of open market transactions and
bankers' acceptances.
Reserve Position.
The average reserve maintained during the past year has
been in excess of the legal requirement, although considerably
below the average maintained during the preceding year as indicated by Schedule "H," the average for 1919 being 45%, as compared with 55% for 1918. The reduction is the natural consequence of increased operations and unprecedented demand for
accommodations on the part of Member Banks.
Movement of Membership.
During the past year there was a net increase of 42 Member
Banks in this district, 21 of which were National Banks and 21
State Banks and Trust Companies. This makes the total membership in this district 1,036, of which 635 are served by the
parent bank, 253 by the Omaha branch and 148 by the Denver
branch. Of the total membership, 988 are National Banks and
48 are State Banks and Trust Companies.
The legislatures of Colorado and Wyoming, at their 1919
sessions, failed to amend their banking laws in accordance with
a bill prepared by the Federal Reserve Board, which would give
State Banks becoming members of the Federal Reserve System
all the privileges enjoyed by National Banks, passing only that
part which removed the restrictions as to the amount of indebtedness a State Bank could create with the Federal Reserve Bank
upon becoming a member of the Federal Reserve System, and
rejecting that part which reduced the reserves to the amount
required by the Federal Reserve Act. By reason of the failure
of this part of the bill to pass the Colorado legislature, a great
many State Banks in Colorado are taking out National charters.
In Nebraska the legislature passed a bill which includes all
the provisions embodied in the bill prepared by the Federal Reserve Board. This has resulted in the nine additional memberships in that state, and several applications which are now
pending.



The bill was not considered by the Kansas legislature, as
there was an effort made by some of the leaders of the body to
pass a bill patterned very much after the Federal Reserve Act,
which, its sponsors claimed, would do for the State Banks of
Kansas what the Federal Reserve Act was doing for its members. The bill failed to pass, but so much interest was centered
in it as to render any other banking legislation impossible.
Since the Federal Reserve Board has directed that a branch
of the Federal Reserve Bank of Kansas City be established at
Oklahoma City, more than forty State Banks in Oklahoma have
signified their willingness to become members of the Federal
Reserve System, many of which have already filed their applications, and it is anticipated that in a very short while the
greater number of these will be members.
State banks and trust companies which were admitted to
the system in 1919 are listed in Schedule "P."
Fiduciary Powers.
Following the Phelan Amendment of the Federal Reserve
Act, approved September 26, 1918, a great deal of interest was
manifested by National Banks in this district, regarding the exercise of fiduciary powers. Under this amended act, permission
has been granted 54 National Banks to act in the various capacities, and in most instances the banks have applied and permits
have been issued for all of the powers, as authorized under this
amendment.
Section "Q" contains the complete list of all banks which
have obtained authority under this new act, and a large majority
of the applications were granted by the Federal Reserve Board,
Washington, during the past year.
Bank Examinations.
The policy of this Bank to accept examinations from the
state authorities, in lieu of examinations made by Federal Reserve Bank Examiners, has been continued throughout the year
for the reason that the states of this district have well organized
banking departments and competent examiners. The bank commissioners of Oklahoma, Nebraska and Wyoming are requiring
the state examiners to use the forms prepared by the Federal
Reserve Board in the examination of State Bank members.
On account of the increasing number of State Bank members
we have organized a staff of examiners who will, with the permission of State Bank commissioners, join the state examiners
in examining State Bank members, and it is believed this con


current examination will create a closer relationship with the
State Bank members and give them an opportunity to learn more
of the operations of the Federal Reserve Bank. We are receiving
effective co-operation from the banking departments of all the
states in this district.
Fiscal Agency Operations.
In this year's activities, the Fiscal Agency Department of
this Bank and the Government Loan and Savings organization
continued under the direct supervision of the Governor's office,
and successfully handled the Victory Liberty Loan, numerous
issues of loan and tax Treasury Certificates of Indebtedness, the
sale of War Savings and Thrift Stamps and Treasury Savings
Certificates, in addition to which the Fiscal Agency Department
operations have included exchanges and conversions in constantly
increasing volume and the handling of millions of coupons and
Government checks.
Treasury Certificates of Indebtedness anticipatory of the
Victory Loan were sold in this district in the amount of $187,745,000. Schedules "S" and "V" reflect the distribution. Treasury Certificates of Indebtedness, Series of 1920, were sold in the
amount of $66,238,500, and certificates of the Tax Series were
sold in the aggregate amount of $71,838,000. Schedules "T,"
"XT' and "W" reflect the distribution. The total sales of Treasury Certificates of Indebtedness, including certificates issued
in anticipation of the Victory Liberty Loan, aggregated
$325,821,500.
At the close of the year, 727 banks in this district were
qualified War Loan depositaries. These banks during the year
had War Loan deposits aggregating $306,450,555.54. The fact
that withdrawals had been made less frequently during the last
half of the year encouraged many banks which had not heretofore qualified to take advantage of the privilege of becoming
War Loan depositaries.
In the Victory Liberty Loan, the campaign was conducted
through a central organization under the direction of the Governor's office of the Federal Reserve Bank. State campaign organizations were formed, each state being subdivided into districts containing a number of counties varying as to conditions
and transportation facilities. Subscriptions to Victory notes aggregated $197,453,850, against quota assigned by the Treasury
Department of $196,928,250. The distribution is shown in
Schedule "X," appended hereto. There were 621,522 subscribers
in this district.
In addition to the accounting work and delivery of Victory
Loan notes aggregating $192,429,300, conversion transactions



numbering 1,887,795 for an aggregate amount of $141,800,700
were handled in the Fiscal Agency Department; 966,730 transactions were handled in denominational exchanges aggregating
$124,831,000, and 195,424 transfers and exchanges of registered
for coupon bonds, or coupon for registered bonds, were made for
an aggregate total of $111,183,100. There were also handled during the year in the Fiscal Agency Department 6,790,539 Government warrants, Government bond coupons and income tax checks
for a total of $209,591,783.61.
The selling campaign for War Savings and Thrift Stamps
and Treasury Savings Certificates was conducted through the
Government Savings Organization under direction of the Governor's office. The maturity value of such securities sold in this
District during the year aggregates $10,100,000. While this
amount is less than the value of such securities sold during 1918,
there was no active campaign conducted during the first half of
the year, due to the fact that the savings campaign was subordinated to the campaign for the sale of Victory Liberty Loan notes.
War Finance Corporation transactions were handled during
the year in the aggregate amount of $40,153,259.85, such transactions consisting principally of the sale of War Finance Corporation bonds and the purchase of Treasury Certificates of Indebtedness for account of the War Finance Corporation.
Note Issues.
The circulation of Federal Reserve notes, at the end of 1919,
was $104,089,255, a decrease of $8,356,035 from the amount outstanding at the end of 1918.
However, during this period bank notes have increased from
$11,448,481 to $19,532,700. Therefore, the total outstanding
note issues at the close of the last two years remained practically
unchanged.
The low tide of the year, as to outstanding Federal Reserve
notes, was reached on August 7, 1919, at which time the circulation had been reduced to $91,353,820.
During the year arrangements were completed for the issuance of Federal Reserve notes in $500 and $1,000 denominations.
Detailed statement with reference to Federal Reserve notes,
including the issuance, redemption and expense, are to be found
in Schedules "L," "M" and "N" of this report.
Position of Commercial Banks as a Result of War Financing.
Comparative statements at the close of this year and last,
as shown in schedules accompanying this report, reflect a show


ing of Member Banks' obligations which may be taken as a general index to extension of credits throughout the district incidental to war financing and accentuated by the increasing high
prices of commodities. It is impractical to obtain accurate information as to the amount of credits directly attributable to
war financing.
The amount of loans carried by the banks of this district is
far in excess of the amount of loans carried by them at the close
of 1918; in turn the Member Banks have leaned heavily on the
Federal Reserve Bank, as evidenced by the fact that on December
31, 1919, they had discounted bills and borrowed on their own
notes the sum of $93,380,730.66, as compared with $57,453,637.39
at the close of 1918.
Policy to Be Pursued in Restoring Liquidity of Banks.
The steady distribution to actual investors of Government
securities carried by the banks for their own account, and the
liquidation of indebtedness incurred by patrons with which to
purchase Liberty Bonds, together with the marketing of the
enormous quantity of agricultural products of District No. 10,
retarded by lack of transportation facilities, will, within the next
few months, enable the banks of this district to greatly contract
the loans carried by them. This liquidation and permanent contraction of loans will be greatly encouraged by the adoption of a
policy by the Federal Reserve Bank to gradually increase discount rates to a point where profit will be eliminated on discount
transactions with the Federal Reserve Bank.
Operation of Federal Reserve Bank Branches.
The volume of business transacted at the branches of the
Federal Reserve Bank of Kansas City at Omaha, Nebr., and Denver, Colo., indicates that the service provided for Member Banks
in the territory tributary to each has been of considerable value.
During the year the general operations of the branches have
been considerably extended, and as members have become more
familiar with the service rendered, they have been making correspondingly increased use of such service. The operation of the
branches is under the direct control and supervision of the Head
Office and the policies formulated by the management of the
Federal Reserve Bank of Kansas City are closely followed at
these branches, which have direct relations with the Member
Banks in their respective territories in all current and ordinary
transactions, with the exception of membership and fiscal agency
operations.
Omaha Branch.
The extension of the service rendered in the general operations of the Omaha Branch, together with the very greatly in


creased number of par points, has required that the number of
employes be nearly doubled and that additional floor space be
obtained. Discount transactions were at the maximum during
the month of December. The volume remained fairly steady the
first four months of the year; increased slightly over the period
of floating the Victory Liberty Loan; diminished to the low point
in August, then steadily arose to the high point in December.
In the clearing operations the average number of items
handled daily has increased from approximately 10,000 at the
beginning of the year to 22,000 at the close of the year.
The total membership tributary to the Omaha Branch, comprising the states of Nebraska and Wyoming, at the close of the
year is 253, including ten new State Bank members. The fact
that 199 out of the 253 Member Banks have had discount transactions with the branch is evidence of the increasing use of its
facilities.
There has been no change in either officers or directors during the year, the following having served the entire period: O. T.
Eastman, Manager; E. D. McAllister, Cashier; Luther Drake,
P. L. Hall, J. C. McNish and R. O. Marnell, Directors. The directors of the branch meet monthly; the executive committee,
having supervision of operations in the interim, meets daily.
Denver Branch.
The territory served by the Denver Branch is unchanged,
being the state of Colorado and that part of New Mexico within
the Tenth District. The total number of Member Banks at the
close of the year in the Denver zone is 148, including five State
Bank members. While the increase in State Bank membership
has been small, there have been additions to the system through
the nationalizing of State Banks, which course appears to be the
more popular one in this section.
The Member Banks in the Denver territory have not used
the facilities at the branch to as large an extent as have the
banks in the zone served by the Omaha Branch. The Discount
Department has accommodated, however, during the year 1919,
86 of the 146 members, and the other facilities of the branch
have been used in some degree by practically all members. The
banks in the territory of this branch have had a successful year;
deposits have increased and profits have shown corresponding
gains. The demand for accommodations from Member Banks,
as compared with the year 1918, was heavier during the first five
months, but lighter during the next five months. The demand
during November was approximately the same both years, but
decidedly stronger during December of 1919, with the result that
the amount of loans carried by the Denver Branch reached its
peak on December 31, 1919.



10

The clearing operations have continuously increased, and at
the close of the year the Denver Branch handled an average of
approximately 20,000 items per day, as compared with a daily
average of little more than 9,000 items during the latter part of
December, 1918.
The number of employes at the close of 1919 is 56, as compared with 38 in December, 1918. There has been no change in
the directorate or the official staff, the members thereof being
as follows: C. A. Burkhardt, Manager; P. R. Fredman, Acting
Cashier; Alva Adams, John Evans, A. C. Foster and C. C. Parks,
Directors. The regular meetings of the Board of Directors are
held monthly, the executive committee meeting daily to pass upon
offerings for discount and other important matters, its findings
being reviewed by the board.
Oklahoma City Branchv
(Authorized, but not opened for business.)
In December, 1919, the Federal Reserve Board authorized
and directed the establishment of a branch office at Oklahoma
City, to be operated along the lines governing the operations of
the branch banks at Cincinnati, Pittsburgh and Buffalo. This
branch will receive deposits from Member Banks, but will carry
no deposit accounts; all amounts received on deposit will be
transmitted daily to the Federal Reserve Bank of Kansas City
for credit to the accounts of the depositing banks. The branch
will carry no earning assets; applications for loans or discounts
from Member Banks will be transmitted to the Head Office for
final action. The principal functions to be exercised by the
branch will be the clearing and collection of checks and the
handling of shipments of currency to and from banks in its
territory.
The Oklahoma City Branch will commence operations as
soon as suitable quarters and equipment can be obtained.
Miscellaneous.
The personnel of the directorate is the same as in 1918.
Messrs. Bailey and McClure, Classes A and B directors, respectively, were re-elected to succeed themselves. Mr. E. F. Swinney
was reappointed as member of Advisory Council for this district.
There were several changes in the official staff during the year.
March 1, 1919, J. L. Cross, Deputy Governor, resigned to become
connected with an Eastern banking institution, and C. A. Worthington, formerly Assistant Cashier, was elected Assistant to
Governor. May 1, 1919, Arch W. Anderson, Secretary-Cashier,
resigned to engage in commercial business, and J. W. Helm, formerly Assistant Cashier, was elected Acting Cashier. C. K.



11

Boardman, in addition to serving as Assistant Federal Reserve
Agent, was elected Secretary. For the balance of the year the
official staff was constituted as follows:
OPERATING DEPARTMENT
J. Z. Miller, Jr., Governor
C. A. Worthington, Assistant to
Governor
J. W. Helm, Acting Cashier
John Philips, Jr., Assistant Cashier,
Manager Fiscal Agency Department
E. P. Tyner, Assistant Cashier,
Manager Transit Department
L. H. Earhart, Assistant Cashier,
Accounting and Analysis Departments
G. E. Barley, Assistant Cashier,
Manager Certificates^ of Indebtedness Division
C. E. Daniel, Assistant Cashier,
Discount Department
M. W. E. Park, Assistant Cashier,
Currency Department

FEDERAL RESERVE AGENT
DEPARTMENT
Asa E. Ramsay, F. R. Agent,
Chairman Board of Directors
C. K. Boardman, Asst. F. R. Agent,
Secretary Board of Directors

AUDITING DEPARTMENT
„ , . • « • , , ,, * ,..
s A
- - Wardell, Auditor
Alfred E. Bolt, Assistant Auditor

Although there has been a decrease in the number of employees in the Fiscal Agency Department since the activities
connected with the Victory Liberty Loan have terminated, the
increased activities of the Discount and Transit Departments, as
well as other departments of the Bank, have necessitated increases m the number of employees, the total number at the close
of the year being 571, of whom 433 are at the Head Office in
Kansas City, 82 at the Omaha Branch and 56 at the Denver
Branch.
A continuance of the practice of holding daily officers' conferences for the discussion of points of general interest has resulted in a closer co-operation between departments and a broader
general knowledge of the transactions of the Bank by all of its
officials. Notwithstanding the increase of operations, it is felt
that the work of the Bank has been conducted satisfactorily and
an increasing degree of efficiency is noticeable.
Clearing operations of the Bank have been conducted on an
ever increasing scale during the year. An active campaign for
par points was inaugurated in September, which has resulted in
the addition to the par list of all the non-par banks in the district, effective with the beginning of the year 1920. Approximately 1.000 banks have been added to the par list during the
year. From an average of less than 50,000 items daily at the
beginning of the year, during the latter part of December there
were handled in the Transit Department an average of approximately 120,000 items daily. These figures do not include Government checks and coupons which are handled in the Fiscal



12

Agency Department, nor items handled at the branches. The
increased volume of clearing business has been proportionate at
the Omaha and Denver branches, and, including the two branches,
this Bank is now handling transit items aggregating approximately 155,000 items per day. Schedule "R" of the appendix
provides in detail a classified record of the business handled, with
statistical data from the Head Office, and the two branches, separately and combined.
The collection facilities provided for maturing notes and bills
and items of like character have been used by Member Banks to
a considerably greater extent during the last few months of the
year, and approximately 100 of such items are now being handled
daily. Member Banks which have availed themselves of this
privilege are enthusiastic over the service, but, like all other extensions in our facilities, many Member Banks do not promptly
realize their benefits.
The daily settling of balances between Federal Reserve districts through the Gold Settlement Fund has continued to benefit
the banking and business interests of this district. The private
wire system connecting all Federal Reserve Banks, their branches
and the Federal Reserve Board, is of great value in this connection, and in addition affords facilites for the telegraphic
transfer of funds for Member Banks. The absorption of all expense connected with the telegraphic transfer of funds is a service to Member Banks which is constantly being availed of to a
greater extent and which is invaluable because of the ebb and
flow of funds between this district and Eastern districts, occasioned by seasonal demands.
Banking Quarters—New Building.
The building program of the Kansas City Bank has progressed to the point of the completion of the plans for the construction of a building adequate for the estimated requirements
of the Bank for at least the next ten years. While the plans are
finished to the last detail, the Bank has refrained from letting
contracts on the suggestion of the board because of the continued increasing prices of building material, and the present high
cost of labor. At the very earliest time, with the sanction of
the board, contracts will be let. At the present time the Bank
is operating at considerable inconvenience and loss of efficiency,
occupying as it does space on eleven floors in five buildings
widely separated in the city.




13

MOVEMENT OF PRINCIPAL EARNING ASSETS OF THE FEDERAL
RESERVE BANK OF KANSAS CITY DURING
THE CALENDAR YEAR 1919.
(In Thousands of Dollars.)

D.srounted
paper
secured
Other
by U.S.
diswar ob- counted
ligations pr.per

September
September
September
September

Bills
bought
in open
market

$26,472 $37,361 $ 63,833
38,509
68,534
30,025
66,939
27,582 39,357
38,248
68,599
30,351
63,536
24,907 38,629

41.5
43.8
41.2
44.2
39.2

Total
bills discounted
and
bought

v. s.
securities

Total
earning
assets

$18,966 $ 82,799 $13,302 $ 96,101
101,664
14,409
87,255
18,721
99,360
14,299
85,061
18,122
14,319
85,284
99,603
16,685
14,284
78,615
92,899
15,079

27,313
33,000
32,324
32,421

40,795
39,363
37,990
35,851

68,108
72,363
70,314
68,272

40.1
45.6
46.0
47.5

14,197
12,242
10,864
14,741

82,305
84,605
81,178
83,013

14,350
14,284
14,284
14,384

96,655
98,889
95,462
97,397

37,445
40,886
50,589
50,173

36,018
38,348
38,688
41,050

73,463
79,234
89,277
91,223

S1.0
51.6
56.7
55.0

14,136
14,143
13,751
8,366

87,599
93,377
103.028
99,589

14,904
14,988
14,936
14,882

102,503
108,365
117,964
114,471

40.559
43,405
45,370
42,369

41,812
42,643
43,471
42,855

82,371
86,048
88,841
85,224

49.2
50.4
51.1
49.7

8,846
7,394
5,479
4,273

91,217
93,442
94,320
89,497

14,801
15,137
14,880
15,346

106,018
108,579
109,200
104,843

53,836
54,083
54,572
51,720
53,028

39,363
34,700
29,588
31,339
36,312

57.8
93,199
88,783 ! 60.9
64.8
84,160
62,3
83,059
59.4
89,340

3,153
2,327
1,762
1,061
577

96,352
96,110
85,922
84,120
89,917

15,311
15,399
15,363
15,321
15,323

111,663
106,509
101,285
99,441
105,240

47,704
48,116
48,132
44,662

34,343
34,142
42,444
48,985

82,047
82,258
90,576
93,647

58.1
58.5
53.1
47.7

169
10
12
8

82,216
82,268
90,588
93.655

20,750
15,750
15,753
15,748

102,966
98,018
106,341
109,403

36,126
38,604
38,770
38,893

48,698
46,994
44.958
44,930

84,824
85.598
83,728
83,823

42.6
45.1
46.3
46.4

8
2
2
2

84,832
85,600
83,730
83,825

15,763
16,263
16,212
16,209

100,595
101,863
99,942
100,034

40,707
41,725
35,326
35,704
36,537

41,730
38,565
33.719
29,253
28,194

82,437
80,290
69,045
64,957
64,731

49.4
52.0
51.1
55.0
56.4

2
2
23
23
10,036

82,439
80,292
69,068
64,980
74,767

16,210
21,356
21,682
21,640
21,594

98,649
101,648
90,750
86.620
96,361

36,917
44,960
41,456
44,485

23,784
27,595
34,530
43,686

60,701
72,555
75,986
88,171

60.8
62.0
54.6
50.4

25,046
25,244
18,591
15,346

85,747
97,799
94,577
103,517

22,136
20,670
21,476
20,029

107,883
118.469
116,053
123,546

48,838
51,814
53,524
52,280
56,917

45,480
45,307
48,645
49,998
50,313

94,318
97,121
102,169
102,278
107,230

51.8
53.3
52.4
51.153.0

621
621
521
471
471

94,939
97,742
102,690
102,749
107,701

20,991
20,771
21,234
21,212
21,702

115,930
118,513
123,924
123,961
129,403

14
21
28

53,482
49,743
49,535
47,750

49,370
52,520
49,027
47,531

102,852
102,263
98.562
95,281

52.0
48.6
50.3
50.1

471
450
450
10,305

103,323
102,713
99,012
105,586

21,699
21,696
23,688
23,688

125,022
124,409
122,700
129,274

12
19
26

43,330
43,204
39,321
36,897

46.669
47,623
45,998
50,536

89,999
88,827
85,319
87,433

48.1
48.6
46.1
42.2

10,205
19,993
20,297
19,981

100,204
108,820
105,616
107,414

24,679
22.784
22,766
24.116

124,883
131,604
128,382
131,530

5....
12.
19..
26..




14

i

FEDERAL RESERVEBANK OF KANSAS CITY
MOVEMENTOFEARNINGASSETS
OUR/NO CALENDAR YEAR 1919. I,

UNITED STATES SECURITIES.

ACCEPTANCES BOUGHT

w
\

PERCENTAGE OF MR

pit

60
60
40
30

«.
—

*

>

PAPER TO TOTAL DISCOUNTS

TOTAL BILLS DISCOUNTED, -D; AND WAR PAPER;W".
150

50

25

25
TOTAL EARN ING ASSETS

JAn\FEB\MCtr\APRL\MAr\/UnE\JULr\AU6\SEPT\ OCT. \MOfifiEC.




15

MOVEMENT OF GOLD AND CASH RESERVES, FEDERAL RESERVE
NOTE AND NET DEPOSIT LIABILITIES, AND THE RESERVE
PERCENTAGE OF THE FEDERAL RESERVE BANK
OF KANSAS CITY DURING THE CALENDAR YEAR 1919.
(In Thousands of Dollars; i. e., 000 omitted.)

Oold
eserves

Cash
reserves

F. R. notes i
in actual i
•irculation

Net
deposits

(3 + 4)

Ratio of cash
reserves to net
deposit and F.
B. note liabilities combLied

Jan.
Jan.
Jan.
Jan.
Jan.

3..
10..
17..
24..
31..

$ 78,197
77,319
82,037
87,651
90,387

$ 78,319
77.522
82,314
87,919
90,717

$112,047
110,035
107,882
107,467
105,593

$45,699
51,785
56,214
62,343
60,246

$157,746
161,820
164,096
169,810
165,839

49.6
47.9
50.2
51.8
54.7

Feb.
Feb.
Feb.
Feb.

7...
14..
20..
28..

79,064
86,950
91,766
91,891

79,357
87,227
92,032
92,079

104,569
103,467
102,908
101,609

53,376
64,511
66,339
69,451

157,945
167,978
169,247
171,060

50.2
51.9
54.4
53.8

81,719
78,172
68,496
68,737

81,867
78,404
68,620
68,849

101,269
100,856
100,435
99,615

64,608
67,350
67,281
64,731

165,877
168,206
167,716
164,346

49.4
46.6
40.9
41.9

4...
11.
18..
25.

73,077
73,970
72,528
75,976

73,191
74,094
72,608
76,113

99,520
98,740
98,063
98,420

60,509
64,692
64,401
63,118

160,029
163.432
162,464
161,538

45.7
45.3
44.7
47.1

2
9
16...
23.
29...

70,266
76,585
81,991
80,878
81,827

70,393
76,716
82,134
81,011
82,019

97,668
97,037
95,835
94,767
95,585

64,741
66,369
67,633
66,000
72,103

162,409
163,406
163,468
160,767
167,688

43.3
46.9
50.2
50.4
48.9

June 6...
June 13..
June 20.
June 27..

79,991
78,577
68,582
71,069

80,140
78,783
68,770
71,306

97,102
95,993
94,623
93,677

66,171
61,486
61,132
67,639

163,273
157,479
155,755
161,316

49.1
50.0
44.2
44.2

July 3...
July 11.
July 18.
July 25.

81,460
78,054
76,576
80,113

81,780
78,350
76,805
80,417

94,044
93,081
94,086
92,148

68,604
67,059
62,303
67,378

162,648
160,140
156,389
159,526

50.3
48.9
49.1
50.4

76,896
84,872
101,356
98,859
90,816

77,067
85,086
101,540
98,983
91,024

91.498
91,646
92,356
92,966
92.533

62,792
73,073
77,399
69.412
70,905

154,290
164,719
169,755
162,378
163,438

49.9
51.7
59.8
61.0
55.7

Sept. 5...
Sept 12..
Sept. 19.
Sept. 26..

83,964
61,685
69,428
68,429

84,114
61.905
69.748
68,819

93,724
93,486
94.683
95,262

74,017
62,220
66.270
72,704

167,741
155,706
160,953
167,966

50.1
39.8
43.3
41.0

Oct. 3
Oct. 10..
Oct. 17...
Oct. 24...
Oct. 31....

71,136
78,472
76,800
71,155
73,801

71,572
73,744
77,180
71,415
74,192

96,927
97,085
96.490
96,275
95,571

65,966
75,058
79.206
73,412
81,894

162,893
172,143
175,696
169,687
177,465

43.9
45.7
43.9
42.1
41.8

Nov.
Nov.
Nov.
Nov.

74,036
85,478
93.531
95,192

74.364
85,772
93,781
95.503

97.369
98,959
99,114
101.749

75.316
83,999
89,908
95,850

172,685
182,958
189,022
197,599

43.1
46.9
49.6
48.3

87.945
70,775
71,144

88.222
71.063
71,492
78.031

102.342
101.884
102,807
105,100

83.240
72,947
69.061
76,104

185,582
174,831
171,868
181,204

47.5
40.6
41.6
43.1

March
March
March
March
April
April
April
April
May
May
May
May
May

Aug.
Aug.
Aug.
Aug.
Aug.

7'....
14..
21..
28..

1...
8...
15..
22.
29.

7...
14..
21.
28.

Dec. 5...
Dec. 12.
Dec. 19.
Dec. 26..




16

I
60
SO
40
30
20
!0

FEPERALRESERVEBANKOFKAMSASCITY
MET DEPOSIT LIABILITY.
F.R. NOTE CIRCULATION.
CASH RESERVES. AIJD RESERVE RATI0.I919.

\

RESERVE RATIO,




(PERCEHTA6E0FC+LJ

17

s
60
SO
40
30
20
10
0

Schedule "A."

INCOME—PROFIT AND LOSS ACCOUNT.
At Close of Business December 31, 1919; December 31, 1918; December 31, 1917; December 30, 1916, and December 31, 1915.

^

EARNINGS FROM
Bills discounted for member banks
Bills bought, acceptance
United States bonds
Municipal warrants
Profits on United States securities sold
Transfers bought and sold
Sundry profits
Deficient reserve penalties (including interest).
Service charges, net
Appreciation profit, United States bonds
Total earnings




December
31,1919

December
31,1918

December
31,1917

December
30,1916

December
31,1915

13,888,839.25
340,875.06
405,399.83

$2,643,990.71
157,982.45
312,442.84

$438,831.43
171,112.15
256,792.18
5,136.63

$ 64,648.69
7,831.51
20,630.85
9,575.48

198,748.86
20,914.39
106,704.52

202,521.45
11,576.59
99,928.66
23,493.43

45,569.84
1,111.99
37,395.78

$ 84,571.71
29,601.03
186,411.19
14,366.41
14,407.50
1,144.87

673.76

$4,961,481.91

$3,451,936.13

$955,950.00

34,463.96
$364,966.67

$103,360.29

Schedule "A"—Continued.

INCOME—PROFIT AND LOSS ACCOUNT.
December
31,1919

EXPENSES
Federal Reserve Board assessments
Federal Advisory Council
Governors' Conferences
Federal Reserve Agents' Conferences
Salaries:
Bank officers
Clerical staff
Special officers and watchmen
All others
Directors' fees
Per diem allowance
Traveling expenses
Officers' traveling expenses
Legal fees
Rent
Taxes and fire insurance
Telephone
Telegraph
Postage
Postage and insurance on gold concentration ....
Postage and insurance on silver concentration
Currency shipments
Expressage
Fidelity bond premiums
Light, heat and power
Printing and stationery
Repairs and alterations
All other expenses not specified herein

Operating expenses


_

December
31,1918

December
31,1917

December
30,1916

December
31,1915

17,998.37
270.00
430.09
327.87

$ 13,118.24
370.00
665.23

$ 10,574 64
305.85
1,244.74
423.08

$ 5,928.48
357.10
924.13
717.20

91.604.11
453,258.48
14,423.07
11,697.97
6,735.00
6,438.25
5,101.83
13,959.06
1,825.00
31,819.50
645.62
3,734.18
12,233.45
78,769.04
17,804.26
2,789.41
27,075.04
2,467.58
20,805.92
4,546.41
49,781.97
11,508.67
20,287.03

68,045.47
188,679.56
5,609.11
784.50
8,260.00
3,675.00
6,553.24
2,425.80
1,225.00
21,262.71
169.04
2,481.04
4,454.90
60,973.84
35,800.81
1,076.30
1,412.27
466.38
6,004.52
2,522.58
25,369.88
5,020.04
15,660.13

37,781.97
39,684.21

25,972.81
32,231.06
805.00
1,599.42
3,705.00
2,385.00
3,628.04
633.31
600.00
7,949.96

28,820.82
34,915.95
2,591.83

810.40
565.11
4,971.74
9,283.80

495.29
351.55
6,457.19

607.18
572.17
10,347.01

1,233.64
1,626.28
1,184.56
5,658.42
286.74
7,216.69

824.85
1,226.52
979.50
3,136.34
213.36
4,108.18

103.24
1,354.28
1,241.00
9,171.34
86.63
4,227.68

$ 918,619.65

$ 486,958.45

$148,682.78

$109,850.69

$125,979.32

28,150.57
300.00
497.74
360.49

$

'T,570"65
3,975.00
3,660.00
4,192.65
1,203.09
775.00
8,849.96

3,480'bd
4,316 00
4,662.51
514.72
1.501.20
9,538.85

Schedule "A"—Continued.

INCOME—PROFIT AND LOSS ACCOUNT.
December

December
31,1918

31,1919

EXTRAORDINARY EXPENSES
$
Commissions paid
Cost of Federal Reserve notes issued
131,339.12
Cost of Federal Reserve notes issued and unissued
Cost of Federal Reserve bank notes (including taxes
81,820.72
and miscellaneous charges on note issues)
Amortization organization Federal Reserve notes
Amortization organization expenses
54,289.85
Depreciation furniture and equipment

$

December
31,1917

$

48,679.35

98,542.01

December
30,1916

$

20,436.16

57,017.18

20,885.26

46,710.47

887.35
19,130.59

5,790.54
5,523.16
26,484.44
3,900.00

December
31,1915

$

861.03

861.03

Total extraordinary expenses

$ 267,449.69

$ 202.269.66

$ 89,582.55

$ 62,134.30

$

Total all chargeable expenses

$1,186,069.34

$ 689,228.11

$238,265.33

$171,984.99

$126,840.35




Schedule "A"—Continued.

INCOME—PROFIT AND LOSS ACCOUNT.

EXTRAORDINARY EXPENSES—Continued.
Net earnings
Profit and loss account
Total earnings for distribution
Less dividends paid
Less organization expenses
Less transit department disbursements, net deficiency
Less Premiums on United States bonds
Less cost of unissued Federal Reserve Notes
Less depreciation of furniture and fixtures
Less other deferred charges
Less depreciation on bank premises
Less amount transferred to account reserved for
depreciation on United States bonds

December
31,1919

December
31,1918

December
31,1917

December
30,1916

December
31,1915

$3,775,412.57

$2,762,708.02
293,407.40
§2,351.68

$717,684,67
91,381.23

$192,981.68

t$23,480.06

$3,775,412.57

$3,058,467.10

$809,065.90

$192,981.68

$ 228,755.50

$ 309,729.25

$364,502.73

$ 66,706.06
t34.768.71

8,196.09

6.577.14
100,000 00
•220,734.00
$ 228,755.50

Total deductions

637.040.39

75,462.42
42,507.74
19,222.63
5,766.89

$515,658.50

$101,475.67
$ 91,504.01

Net credit to profit and loss account during year
1919 (Transferred from the account previously established for depreciation on United
States bonds)
Net earnings to profit and loss account.
Carried to surplus

tDeficlt.
tlncludin* deficit—1915.


122.78

$ 147,949.58
3,546,657.07
3,694,606.65

5 Adjustment-earnings—1917.

$2,421,426.71
2,421,426.71

$293,407.40

$ 91,381.23

|| Adjustment-operating expenses—1916.

Sehednle "AA/

EARNINGS AND EXPENSES FOR CALENDAR YEARS 1918 AND 1919, ALSO PROFIT AND LOSS ON
DECEMBER 31, 1918, AND DECEMBER 31, 1919.

December 31,1919
Earnings as shown on Form 95
Expense of operation of bank proper
Cost of Federal Reserve currency issued (including expressage,
insurance, etc.)
Miscellaneous charges account note issues (including taxes)
Depreciation on furniture and equipment
Total
Net earnings for year
Profit and loss (undistributed from previous year)
Profit added to profit and loss account (correction entries during
the year 1918)
Net credit to profit and loss account during year 1919
(1) Including cost of unissued Federal Reserve currency.




$4,961,481.91

December 31,1918

$ 918,619.65

$ 486,958.45

131,339.12
81,820.72
54,289.85

(1)98,542.01
57,017.18
46,710.47

$3,451,936.13

1,186,069.34

689,228.11

$3,775,412.57

$2,762,708.02
293,407.40

147,949.58
$3,923,362.15

2,351.68
$3,058,467.10

Schedule "AA"—Continued.

EARNINGS AND EXPENSES FOR CALENDAR YEARS 1918 AND 1919
ALSO PROFIT AND LOSS ON DECEMBER 31, 1918, AND DECEMBER 31, 1919
December 31,1919

8

Less dividends paid:
June 30, 1918, for period July 1, 1917, to June 30, 1918.
Dec. 31, 1918, for period June 30, 1918, to Dec. 31, 1918
June 30, 1919, for period Jan. 1, 1919, to June 30, 1919..
Dec. 31, 1919, for period June 30, 1919, to Dec. 31, 1919
Depreciation bank premises
Depreciation on United States bonds
Other deferred charges

Profit and loss Jan. 1, 1920
Carried to surplus fund
Balance of surplus account Dec. 31, 1918
Total surplus
(2)

„

January 1, 1919.




$ 201,795.20
107,934.05

$ 111,811.73
116,943.77

Total deductions
$3,694,606.65
2,421,426.71

December 31,1918

100,000.00
220,734.00
6,577.14
228,755.50

637,040.39

$3,694,606.65

(2) $2,421,426.71
$2,421,426.71

$6,116,033.36

$2,421,426.71

Schedule "IV

STATEMENT OF CONDITION
FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
At Close of Business Dec. 31, 1915, 1916, 1917, 1918 and 1919.
1919
Dec. 31

ASSETS

1918
Dec. 31

1917
Dec. 31

1916
Dec. 30

1915
Dec. 31

1. Cash:
Federal Reserve Bank (Gold)
$ 32,427,577.16 $ 23,683,147.78 $ 41,598,900.00 $ 27,400,285.00 $ 10,933,010.00
150,095.00
58,073,732.20
42,532,215.00
107,000.00
Federal Reserve Agent (Gold)
43,783,832.20
145,280.00
119,570.00
101,461.00
58,000.00
Silver Coin, Certificates and Legal Tender...
364,699.60
1.07
9.75
514.43
3.63
Nickels and Cents
40,143.08
$ 76,616,252.04 $ 81,858,855.41 $ 84,189,118.63 $ 27,695,669.75 $ 11,159,581.07
2. Other Currency:
Due from U. S. Treas. 5% Fund
National Bank Notes and Notes of other
Federal Reserve Banks
Unassorted Currency

$

$
3. Loans and Discounts:
Rediscounts and Loans, Member Bank
Rediscounts for other Federal Res. Banks
Acceptances Bought in Open Market

957,460.00 $

565,600.00 $

400,000.00 $

300,000.00

1,136,100.00
2,739,301.00

1,839,565.00

216,300.00

107,645.00

348,318.00

4,832,861.00 $

2,405,165.00 $

616,300.00 $

407,645.00 $

348,318.00

514,888.46 $
428,872.29
$ 93,380,730.66 $ 57,453,637.39 $ 30,051,150.34 $
5,003,293.86
3,945,180.94
1,337,928.75
3,580,463.35
14,203,695.36
18,691,464.20
$112,072,194.86 $ 71,657,332.75 $ 36,392,372.95 ?

4. Investments:
U. S. Bonds and Certificates of Indebtedness $ 23,934,750.00 $ 13,245,450.00 $ 10,633,090.00 $
Municipal Warrants



$ 23,934,750.00 $ 13,245,450.00 $ 10,633,090.00 $

4,460,069.40 $ 4,009,335.64
9,455,850.00 $
163,813.65

2,151650.00
288,015.84

9,619,663.65 $ 2,439,665.84

Schedule "B"—Continued.

STATEMENT OF CONDITION
FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
At Close of Business Dec. 31, 1915, 1916, 1917, 1918 and 1919.
ASSETS
I.

Due from Banks and Bankers:
F. R. Banks—Transfers Bought
Transit Items
Exchange for Clearing House and Other
Cash Items
Overdrafts

1918
Dec. 31

1919
Dec. 31

$ 77,800,762.51

1917
Dec. 31

$ 22,262,948.23 $ 15,969,937.00
38,956,172.95
11,431,493.33

1,753,203.02
42,856.28

1,826,049.50
119,854.93

233,681.16

1916
Dec. 30

1915
Dec. 31

17,584,498.46 $ 1,849,365.44
17,315.52
17,688.57

5,363.85
11,783.74

$ 79,596,821.81 $ 63,165,025.61 $ 27,635,111.49 $ 17,619,502.55 * 1,866,513.03
B. Sundries:
Furniture and Fixtures Recoverable
Bank Premises
War Loan Expense Reimbursable
Accrued Interest Receivable, U. S.
Securities
Due from Employes—L. L. Subscriptions
Deferred Charges
Expense—Organization
Premium and Discount, U. S. Bonds

$

164,385.32
5,772.50




$

6,875.00
400,000.00
449,452.85

13,750.00 $
"86i449i96

62,257.78
16,749.50

60,504.90
13,071.00

25,978.29

15,000.00

53,978.18

8,862.18

46,648.91

52,960.85
52,984.44

85,887.20
212,487.58

129,807.47

$298,091,900.47 $233,267,163.90 $159,639,768.93 $ 60,015,037.93

19,953,221.05

$
TOTAL ASSETS.

461,686.76
407,176.18

1,039,020.76

935,335.13 $

173,775.86

STATEMENT OF CONDITION
FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
At Close of Business Dec. 31, 1915, 1916, 1917, 1918 and 1919.

Schedule "B"—Continued

LIABILITIES

1919
Dec. 31

1918
Dec. 31

3,659,450.00 % 3,396,750.00 $

Capital

$

4,015,550.00 $

2.

Surplus:
Profit and Loss

*

6,116,033.36 $ 2,421,426.71

8.

Deposits:
Reserve Balances
Deferred Credits—
Member and Non-Members
Cashier's Checks, etc
Foreign Government Credits

1.

% 6,116,033.36 $

1917
Dec. 31

1916
Dec. 30

1915
Dec. 31

3,073,950.00 $

3,037,800.00

$

293,407.40 $

91,506.02

2,421,426.71 $

293,407.40 $

91,506.02

$ 90,406,431.51 $ 67,317,512.25 $ 72,976,491.13 $ 44,191,246.07 $ 14,930,086.68
40,017,982.37
253,701.00
3,470,114.70

17,434,374.47
691,028.79

4,751,489.87
970,542.14 $

2,137.68 $

2,767.76

$134,148,229.58 $ 85,442,915.51 $ 78,698,523.14 % 44,193,383.75 $ 14,932,854.44
4. Government Deposits

$ 1,789,829.90 % 5,450,293.54 % 7,860,957.17 |

5. Due to Other Federal Reserve Banks:
Gold Settlement Suspense
Other Items

$ 11,249,008.19
16,490,713.98 $ 11,786,394.31 $

5,897,622.17 $ 10,336,961.54 %

492,750.72

$ 27,739,722.17 $ 11,786,394.31 $

5,897,622.17 $ 10,336,961.54 $

492,750.72

$ 19,980,000.00 $ 12,172,000.00 $
723,519.00
447,300.00

8,000,000.00 $

* 19,532,700.00 $ 11,448,481.00 $

8,000,000.00

6. Federal Reserve Bank Notes:
Outstanding .
Less* On Hand
In Circulation



275,778 80

6000,000.00
6,000,000.00

Schedule "B"—Continued.

STATEMENT OF CONDITION
FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
At Close of Business Dec. 31, 1915, 1916, 1917, 1918,and 1919.
1919
Dec. 31

LIABILITIES
7. Federal Reserve Notes:
Outstanding
Less: On Hand

8. Discount and Interest:
Unearned
9.

Reserve for Depreciation:
U. S. Securities

10. Sundries
TOTAL LIABILITIES




1918
Dec. 31

1917
Dec. 31

1916
Dec. 30

1915
Dec. 31

$110,555,755.00 $120,317,330.00 $ 58,023,420.00 $
7,872,040.00
2,650,710.00
6,466,500.00

2,540,000.00 $ 2,000,000.00
564,850.00
517,120.00

$104,089,255.00 $112,445,290.00 $ 55,372,710.00 $

2,022,880.00 $ 1,435,150.00

$

549,091.77 $

$

72,887.40

$

38,601.29

612,912.83 $

119,799.05 $

20,577.82 $

54,665.89

$298,091,900.47 $233,267,163.90 $159,639,768.93 $• 60,015,037.98 $ 19,953,221.05

Schedul • "C"

DISCOUNT OPERATIONS FOR THE YEAR 1919.
REDISCOUNTS FOR MEMBER BANKS, DISTRIBUTED BY STATES.

State

Colorado
Kansas....
Missouri
Nebraska
New Mexico.
Oklahoma ....
Wyoming
Total

Number of
member
banks
Dec. 31

Number of
banks
accommodated

Number
of
transactions

133
254
61
208
13
322
45

79
124
35
173
7
235
26

1,590
2,813
1,883
3,886
168
5,588
96

1,036

679

16,024

Volume by Months.
January
February
March
April
May
June
July
August
September
October
November
December
Total




Nature of Paper Discounted.
Total

$

89,303,883.58
98,168,830.76
632,952,516.62
436,358,614.13
7,045,882.22
286,724,555.43
5,042,338.56

$
7,486,313.21
Balance on Trade acceptances
357,336.33
hand Dec. 31 Bankers' acceptances....
Agricultural paper
17,420,820.59
Live stock paper
85,727,605.17
Commercial and industrial paper secured
$10,836,344.95 by U. S. war obliga5,980,037.49 tions
19,955,571.20
26,437,860.15
Otherwise secured.... 107,715,984.22
41.692,505.65 Member banks' collat600,485.01 eral loans: Secured
7,623,653.29 by U. S. war obliga209,944.05 tions
1,168,325,485.85
Otherwise secured.... 148,607,504,73

(1,555,596,621.30 $93,380,730.66

Total

$1,555,596,621.30

56171 notes rediscounted,
average amount
$
4,260.71
13267 collateral loans
made, average amount
99,640.68
Maximum amount held.. 114,786,255.46
Offerings rejected:
In part—7784 offerings, 27,951,303.89
notes.
In whole—904 offerings, 2,199,010.51
notes.
Total—$30,150,314.40.

REDISCOUNT RELATIONS WITH OTHER FEDERAL RESERVE BANKS
DURING 1919

Rediscounted With
96,339,671.95 Federal
Reserve Bank of New York, New York City
87,500,062.41
124,905,788.86
144,148,460.78
147,379,967.52 Federal Reserve Bank of Dallas, Dallas, Texas
137,089,761.78
109,922,796.92
104,078,484.72
139,961,556.64
171,179,043.50
145,934,891.37
Grand Total
147,156,134.71
Rediscounted for
$1,555,596,621.30 Federal Reserve Bank of Richmond, Richmond, Virginia

$

Miscellaneous.

Date
4-3
4-12
4-22

Amount
$10,000,000.00
10,000,000.00
10,000,000.00

12-19
12-24
12-29
12-31

$ 7,000,000.00
6,000,000.00
6,000,000.00
7,500,000.00

$30,000,0M.0«

26,500,000.00
$56,500,000.00
3-4
3-14

$ 2,500,000.00
2,500,000.00

5,000,000.01

Schedule "C"—Continued

SCHEDULE OF DISCOUNT RATES IN EFFECT DURING THE YEAR 1919.

Member Banks' 15 Dayi Notes:
Secured by Treas. Certificates of Indebtedness..
Series T-9
Other than Series T-9
Issues bearing 4^4%
Issues bearing 4%%
Member Banks' 15 Days Notes:
Secured by Liberty Bonds or Victory Notes
Member Banks' 15 Days Notes:
Secured by Eligible Paper
Rediscounts:
Secured by Liberty Bonds or Victory Notes
Secured by Treasury Certificates of Indebtedness, Series T-9
Secured by Treasury Certificates of Indebtedness other than T-9
Secured by Treasury Certificates
of Indebtedness issues bearing 4lA%
Secured by Treasury Certificates of Indebtedness issues bearing 4%%
Rediscounts:
Commercial Paper maturing 15 days or less
Commercial Paper maturing 16 to 90 days
Agricultural or Live Stock Paper maturing
15 days or less
Agricultural or Live Stock Paper maturing
16 to 90 days
Agricultural or Live Stock Paper maturing
91 days to 6 months
Trade Acceptances maturing 15 days or less

Trade Acceptances maturing 16 to 90 days


RATES IN EFFECT
Jan. 1 Apr. 26 June 19 Sept. 3 Nov. 3

Nov. 12 Nov. 29 Dec. 15 Dec. 31

4%%
4%%

4%
4%

4%%
4%%

4%%

5%

5%

5%

5%

5%

5%

4%%

4%%

5%

5%

5%
5%

5%
5%

5%
5%

5%

5%
5%

5%

5%

5%

5%
4%%

414%

4%

4%%

4%

5%

5%

5%

5%

4%%

4%%

6%

5%

5%

5%
5%
5%

5%
5%

5%
5%

5%
5%

5%
5%

5%
5%

5%
5%

Schedule "D.*

OPEN MARKET TRANSACTIONS FOR THE YEAR 1919.
Bills Discounted—Bought (Bankers' Acceptances.)
2,444 items purchased in above period, total
At the following discount rates:
4^ff
4A
4ft
4ft
4U
413
4%
4*1

per
per
per
per
per
per
per
per

cent
cent
cent
cent
cent
cent
cent
cent

By maturities
tJp to 30
30 to 60
60 to 90

$71,184,448.70
Amounts
$ 6,015,236.91
51,741.12
992,276.85
350,000.00
40,021.44
387,908.34
3,872,482.17
407,120.00

4
4%
4%
4%
4%
47/8
4%
5

per
per
per
per
per
per
per
per

cent
cent
cent
cent
cent
cent
cent
cent

Amounts
$ 7,126,903.11
30,806,403.04
7,569,789.19
2,111.004.65
6,054,392.63
7,697.13
4,541,650.87
849,821.25

Total

$71,184,448.70

at date of purchase:
days
days
days

v

$ 5,168,354.98
38,266,078.40
27,750,015.32
$71,184,448.70

Classification:
Domestic
Export or import




:

$16,888,372.23
54,296,076.47
$71,184,448.70

Schedule "E."

OPEN MARKET TRANSACTIONS FOR THE YEAR 1919.
Warrants.
Purchases

None

Schedule "F."

OPEN MARKET TRANSACTIONS FOR THE YEAR 1919—UNITED STATES SECURITIES.
3%
4
21
4 /i
4%
4%
4y2
5

PURCHASES.
per cent United States Liberty Loan Bonds (1st issue), 1947
per cent United States Liberty Loan Bonds (2d issue), 1942
per cent United States Special Certificates of Indebtedness
per cent United States Liberty Loan Bonds (4th issue), 1938
per cent United States Victory Loan Bonds (5th issue), 1923
United States Certificates of Indebtedness (Sundry Issues)
United States Certificates of Indebtedness (Sundry Issues)
per cent War Finance Corporation Bonds, 1920
Total

SALES.
United States Liberty Loan Bonds to secure Participation Certificates....
War Finance Corporation Bonds
4>4 per cent United States Certificates of Indebtedness (Sundry Issues)
4% per cent United States Certificates of Indebtedness (Sundry Issues)
Total



None
None
$16,821,000 00
400.00
450 00
3,769,500.00
11,201,000 00
22,000.00
$31,814,350.00
$

550.00
22,000.00
2,701,500.00
8,789,000.00

$11,513,050.00

Schedule "F"—Continued.
3 per
3 per
4 per
2 per
2 per
3V2 per
iV*
per
4J,4 per
4% per
Liberty
2 per
4M per
V-k. per

CONVERSIONS
UNITED STATES SECURITIES ON HAND DECEMBER 31, 1919.
cent United States Conversion Bonds, 1916-1946
cent United States Conversion Bonds, 1917-1947
cent United States Bonds, 1925
cent Panamas, 1936
cent Consuls, 1930
cent United States Liberty Loan Bonds (1st Issue), 1947
cent Converted United States Liberty Loan Bonds (2d Issue), 1942
cent United States Liberty Loan Bonds (4th Issue), 1938
cent United States Victory Loan Bonds (5th Issue), 1923
Loan Bonds to secure Participation Certificates :
'.
•.
cent United States One-Year Certificates of Indebtedness
cent United States Certificates of Indebtedness (Sundry Issues)
cent United States Certificates of Indebtedness (Sundry Issues)

$

16,600.00
82l[9Oo!oO
825^000.00
2oiooo!oo
I"""""""" 7,155,OOo!oO
20,000.00
8,000 00
400.00
450 00
400.00
12,820 000 00
1,070,000.00
1,177,000.00

Total

$23,934,750.00

Schedule "G."

DISCOUNT AND INVESTMENT OPERATIONS FOR THE YEAR 1919—AVERAGE OF EACH CLASS OF
EARNING ASSETS HELD, TOTAL EARNINGS AND AVERAGE ANNUAL RATES THEREON.

Bills discounted, members....
Bills bought in open market
United States securities

Total



Average
Holdings

Earnings

Average
Rate

$ 83,002,885.00
7,810,736.00
17,960,085.00

$3,883,283.69
340,875.06
405,399.83
5,555.56

4.679
4.364
2.257
4.055

$108,773,706.00

$4,635,114.14

4.261

Schedule "H."

RESERVE POSITION.
(Monthly Averages.)

Month
January
February
March
April
May

June
July
Auerust
September
October
November
December
Yearly averages




Percentage Carried
1919
1918

Percentage
Required

Percentage Excess
Over Requirements
1919
1918

35
35
35

15.6
17.4
12.5
7.9
8.3
8.4
9.1

54

35
35
35
35
35

58
52.7
49.3
63.9

35
35

11.7
9.9
6.2

35
35

7.8
7.8

17.7
14.3
28.9

55.4

35

10.2

20.4

50.6
52.4
47.5
42.9
43.5
43.4
44.1
46.7
44.9
41.2
42.8
42.8

58.1
60.5
64.9
48.3
52.9
51.7
51.1

45.2

23.1
25.5
29.9
13.3
17.9
16.7
16.1
19
23

Schedule "I."

MEMBERSHIP—ADDITIONS AND WITHDRAWALS AND
EFFECT ON THE TOTAL CAPITAL STOCK.
Additions.

State
Colorado
Kansas
Missouri
Nebraska
New Mexico
Oklahoma
Wyoming

Total

Number
of Banks

Capital Subscription
Federal Reserve
Bank of Kansas City

Capital and Surplus
of Member Banks

6
11
6
10
1
15
6

$ 12,700.00
38,400.00
319,700.00
35,600 00
3,600.00
50,600.00
24,600.00

$ 210,500.00
634,479.54
5,327,50000
590,100.00
60,000 00
834,200 00
410,000.00

55

$485,200.00

$8,066,779.54

Withdrawals.

State
Colorado
Kansas
Missouri
Nebraska
New Mexico
Oklahoma
Wyoming
Total

Number
of Banks

Capital
Surrendered

Capital and Surplus
of Member Banks

2
2

$228,000.00
7,800.00

$3,800,00000
128,700.00

9

17,500.00

283,200 00

13

$253,300.00

$4,211,900.00




34

Schedule "J/

MEMBER-BANK DEPOSITS.
(Net daily reserve balance for the year 1919.)
Month

Amount

January
February
March
April
May
June
July
August
September
October
November
December

$71,457,651.86
70,886,654.02
71,126,038.44
71,531,192.78
73,889,353.60
74,995,217.58
76,649,162.89
81,430,023.89
80,966,841.17
81,492,816.22
85,929,495.07
85,447,183.82
DEFICIENT RESERVES.
(Daily averages for the year 1919.)

Period

January ..
February
March
April
May
June
July
August ....
September
October ....
November
December
Total




Number
of Banks

Daily Average
Deficiency

Amount of
Penalties

183
166
182
151
159
163
140
184
220
227
197
199

749,595.00
1,251,948.00
830,018.00
1,236,670.00
1,211,345.00
1,167,165.00
913,267.00
1,164,795.00
1,156,445.00
2,284,107.00
1,885,292 00
1,218,114.00

6,599.65
7,509.04
4,677.21
7,929.35
7,388.73
8,057.64
6,474.35
8,187.83
8.591.34
16.870.32
14,842.34
9,576.72

2,171

115,068,761.00

$106,704.52

35

Sthedule "K.»

GOVERNMENT ACCOUNT FROM JANUARY 1, 1919, TO DECEMBER 31, 1919.
(Including balance to credit of United States Treasurer, December 31, 1918.)
Balance to credit of United States Treasurer, December 31, 1918
Total amount of transfers from other Federal Reserve Banks
Receipts from sale of Liberty Bonds
Receipts from sale of Treasury Certificates
Receipts from sale of War Finance Bonds
Total amount of other net credits to United States Treasurer
Total
Total amount of warrants paid
Total amount of certificates of indebtedness paid
Total amount transferred by order of United States Treasurer
Balances to credit of United States Treasurer, December 31, 1919
Total amount of other net debits to United States Treasurer
Total....




.

•

$

5,207,176.41
21,000j000 00
234,139,992.43
283,928 000.00
2,863,000 00
544,728,765.92

$1,091,866,934.76
$ 104,751,594.63
263,932,000.00
323,539,000.00
1,283,251.75
398,361,088.38
$1,091,866,934.76

Schedul.

M

L"

FEDERAL RESERVE AGENTS STATEMENT OF FEDERAL RESERVE NOTES ON HAND, OUTSTANDING, RECEIVED FROM COMPTROLLER OF THE CURRENCY, CANCELLED, AND
COVERAGE OF TOTAL ISSUE AS OF DECEMBER 31, 1919.
RESOURCES.

-a

Federal reserve notes on hand
Federal reserve notes outstanding
Rediscounts to secure Federal reserve notes
Credit balance in gold-redemption fund
Credit balance with Federal Reserve Board

»

Federal reserve notes sent to Comptroller of Currency for cancellation and destruction.
Total
LIABILITIES.
Federal reserve notes from Comptroller of Currency—gross amount
Collateral received from Federal Reserve Bank: EHeible paper
Gold
Total




$ 2,048,970.00
37,360,000.00

$ 5,790,000 00
110,555,755.00
112,020,344.86
39,408,970 00
86,914,245.00
$354,689,314.86
$203.260 000 00
112,020 344 86
39,408,970.00
$354,689,314.86

Schedule "M"

FEDERAL RESERVE NOTES RECEIVED AND RETURNED.
(Amounts of Federal Reserve Notes of the several denominations received from and returned to other Federal Reserve
Banks for redemption or credit by the Federal Reserve Bank of Kansas City during the period since January 1, 1919.)
Exchanged with Federal Reserve
Bank of—
M

oo

Boston
New York
Philadelphia....
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Dallas
San Francisco
Total

•




FIVES
Received
from
800,200
2,210,500
510,500
706,000
445,500
476,685
4,279,500
2,747,885
606,000
663,150
991,910

Returned
to
63,000
606,000
89,500
187,000
111,500
222,500
1,907,500
1,382,500
656,000
752,500
918,500

TENS
Received
Returned
from
to
349,700
1,869,000
387,500
613,000
683,000
602,190
4,661,000
2,788,810
755,000
1,118,250
1,458,540

208,000
1,662,000
228,000
475,000
254,000
479,000
3,418,000
2,145,000
898,000
1,270,000
1,082,000

TWENTIES
Received
from
392,900
2,753,000
530,000
658,000
980,500
876,550
5,124,000
3,180,680
1,047,000
1,246,750
2,526,640

Returned
to
150,000
1,566,000
330,000
780,000
388,000
802,000
4,300,000
3,584,000
754,000
1,576,000
1,760,000

FIFTIES
Received
Returned
from
to
34,450
243,900
31,500
53,750
16,500
45,400
300,000
160,150
46,500
119,100
155,850

63,300
559,300
96,000
225,600
191,900
70,000
423,450
822,700
36,750
262,350
200,050

$14,437,830 $ 6,896,500 $15,285,990 $12,119,000 $19,316,020 $15,990,000 $ 1,207,100 $ 2,951,400

Schedule "M"—Continued

FEDERAL RESERVE NOTES RECEIVED AND RETURNED.
(Amounts of Federal Reserve Notes of the several denominations received from and returned to other Federal Reserve
Banks for redemption or credit by the Federal Reserve Bank of Kansas City during the period since January 1, 1919.)
Exchanged with Federal Reserve
Bank of—
Boston
New York
Philadelphia....
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Dallas
San Francisco
Total




HUNDREDS
Received
from
41,200
366,800
44,000
46,100
21,000
38,400
270 000
134,900
63,000
57,000
208,800

Returned
to

FIVE HUNDREDS
Received
from

38,100
468,400
114,700
51,600
73,100
44,000
258,300
257,700
52,300
147,800
227,000

500
1,500 $
500
2,000
1,000
500
1,500
8,500
500
500
2,000

$ 1,291,200 $ 1,733,000

19,000 $

Returned
to
11,000

6,000
500
1,000
500
5,000
24,000 $

THOUSANDS
Received
from

Returned
to

6,000 $
2,000
1,000
1,000
1,000
33,000
4,000
2,000
50,000 $

36,000
2,000
1,000
22,000
8,000
4,000
6,000
9,000

TOTAL AMOUNTS
Received
from

Returned
to

$ 1,618,950
522.400
7,450,700
4,908,700
1,504,000
858 200
2,080,850
1,721.200
2,148,500
1.019,500
2,040,725
1,617,500
14,637,000 10,335,250
9,053,925
8200,400
2,518,000
2,402,050
3,208,750
4,015,150
5,345,740
4.201,550

88,000 $51,607,140 $39,801,900

Schedule "N"

FEDERAL RESERVE NOTES—FEDERAL RESERVE AGENT
Issued to bank, 1919
$55,900,000.00
Received by comptroller for cancellation and destruction
59,051,575.00
Federal Reserve Notes on hand, now, unissued
5,790,000.00
Cost of issued and unissued notes for the year
131,339.12
The cost of issued notes was made on the following basis:
DENOMINATIONS.
Cost per 1,000
2.28
1.26
.758
385
257
.147
.135

Fives
Tens
Twenties
Fifties
Hundreds
Five Hundreds
Thousands

Federal Reserve Notes of the Federal Reserve Bank of Kansas City
received from other districts amounted to $51,607,140.00. Shipment cost
averaged approximately 38c per $1,000 on $27,000,000.00 received during
first six months of the year, and averaged approximately l i e per $1,000
on $24,000,000.00 for last six months of year.




40

Schedule "O"

OFFICIAL AND CLERICAL STAFF.
1919
17
566

Number of Officers..
Number of employees in various departments

1918
14
466

MONTHLY PAY ROLL EMPLOYEES.
1918

1919
Department
Number
Federal Reserve Agent's office and credit bureau
General Clerical force, including discount, auditing and all other departments except
transit
Transit Department
Fiscal Agency Department (recoverable through U. S. Treasurer)
Total




Monthly
Salaries
$

Number

Monthly
Salaries
$

758.34

510.00

204
199
157

22,160.00
17,180.00
16,240.84

121
139
201

9.300.00
10,000.00
17,800.00

566

$56,339.18

466

$37,610.00

Schedule " F

STATE BANKS AND TRUST COMPANIES ADMITTED TO MEMBERSHIP IN FEDERAL RESERVE BANK
OF KANSAS CITY DURING 1919.
State
ColoradoKansas....
Missouri..
ft

Nebraska

City
Ft. Lupton....
Anthony
Liberal
Wichita
Joplin
Kansas City.
Allen
Broken Bow.
Gozad
jenoa

New Mexico.
Oklahoma
Wyoming.




Kilgore
North Bend.
Ord
Sidney
Western
Santa Fe
Clinton
Hordell
loltry
Pawhuska
Dheyenne

Name of Bank
Ft. Lupton State Bank
The Home State Bank
Citizens State Bank
State Savings & Mercantile Bank.
Conqueror Trust Company
Live Stock State Bank
Farmers State Bank
Custer State Bank
Farmers State Bank
Farmers State Bank
Kilgore State Bank
First State Bank
Nebraska State Bank
American Bank
Saline County Bank
Capitol City Bank
First State Bank
Cordell State Bank
Bank of Goltry
Stockgrowers State Bank
Cheyenne State Bank

Date Admitted
to System
1 18-19
9 • 8-19
10 24-19
12 6-19
2 24-19
11 25-19
11 10-19
11 21-19
10 7-19
8 13-19
12 • 6-19
10 25-19
8 • 4-19
7 •10-19
7 •11-19
4 • 7-19
4 21-19
10 -16-19
5 -12-19
12 - 8-19
10 20-19

Schedule "Q"

BANKS GRANTED FIDUCIARY POWERS UNDER SECTION
11 (k) OF THE FEDERAL RESERVE ACT, AS
AMENDED BY THE ACT OF SEPT. 26, 1918.
(Listed by states in order in which applications were approved by the
Federal Reserve Board, Washington)
State
Colorado

Kania.

Milloml

Nebraska
New Mexico
Oklahoma

Wyoming

City
Greeley
Longmont
Boulder
Denver
Sterling
Denver
Denver
DenvC!r
Colorado Spring.
Loveland
Walsenburg
Greeley
Colorado Spring.
Fort Collins
Grand Junction
Loveland
Las Animal
Center
Topeka
Pittsburg
Coffeyville
Lawrence
Salina
Winfield
Independence
Fort Scott
Kansas City
St. Joseph
Kansa. City
Kansal City
KansaaCity
Neosho
Kansas City
Omaha
Santa Fe
Las Vega.
Raton
TUlsa
Oklahoma City
Oklahoma City
Tulsa
Ada
Oklahoma City
Powell
Basin
Cheyenne
Rawlins
Shoshoni
Cheyenne
Cheyenne
Rock Springs
Laramie
Rock Spring.
Sheridan




Name of Bank
First National Bank
American National Bank
Citizens National Bank
United States National Bank
Farmers National Bank
First National Bank
Denver National Bank
Colorado National Bank ·
Exchange National Bank
First National Bank
First National Bank
Greeley National Bank
First National Bank
Poudre Valley National Bank
Grand Valley National Bank
Loveland National Bank
First National Bank
First National Bank
Farmers National Bank
National Bank of Commerce
First National Bank
Lawrence National Bank
National Bank of America
First National Bank
Commercial National Bank
Citizens National Bank
The Inter-State National Bank
Tootle-Lacy National Bank
Commonwealth National Bank
Fidelity National Bank & Trust Co.
New England National Bank
First National Bank
Midwest National Bank & Trust Co.
First National Bank
First National Bank
San Miguel National Bank
First National Bank
Exchange National Bank
Security National Bank
Liberty National Bank
Central National Bank
First National Bank
American National Bank
First National Bank
First National Bank
Citizens National Bank
First National Bank
First National Bank
Stock Growers National Bank
First National Bank
Rock Springs National Bank
First National Bank
First National Bank
First National Bank

43

Sehedule "R."

CLEARINGS-FEDERAL RESE RVE BANK OF KANSAS CITY
Items on Own District.
JANUARY 2 TO DECEMBER 31, 1919. ·
COUNTRY

CITY

TOTAL

Items

Amount

Items

Amount

Items

Amount

January ................
February
March ....................
April ......................
May ........................
June ........................
July ........................
August ..... _---- ..__ ....
September
October ..................
November ..............
December ..............

105448
112675
181217
173391
160213
144356
143384
147710
168696
196078
201485
268294

$ 261,458,195.13
200,722,252.00
261,131,697.67
239,998,227.53
269,380,640.77
264,921,001. 77
269,565,920.4 7
309,114,99003
334,695,485.29
332,323,155.44
311,742,376.16
337,221,762.46

637625
556595
789661
721764
702698
698635
679105
717570
804984
913552
965729
985372

$ 190,930,408.53
153,605,201.56
180,154,161.04
157,828,513.46
181,688,317.80
179,798,175.44
163,364,337.99
181,354,449.31
192,092,712.13
223,682,819.09
199,721,995.55
207,571,041.83

743073
669 270
970878
89 5155
862911
842991
822489
865280
973680
1109630
1167214
1253666

$ 452,388,603.66
354,327,453.56
441,295,858.71
397,826 ,740.99
451,068,958.57
444,719,177 .21
432,930,258.46
490,469 ,439 .34
526,788 .197.42
556,005 ,974.53
511,464,371. 71
544,792,804.29

Total ..............

20029'7

$3,392,275,704.72

9173290

$2,211,792,133.73

11176237

$5,604,067,838.45




Schedule "R"-Continued.

CLEARINGS-FEDERAL RESERVE BANK OF KANSAS CITY
Items on Other Districts.
JANUARY 2 TO DECEMBER 31, 1919.
COUNTRY

CITY

Items

January ................
February
March ....................
April ......................
May ........................
June ........................
July ........................
August --_. __ ............
Sept ember
October ..................
November
December ..............

10153
9682
13461
12523
13064
13594
13765
14424
15131
21484
18087
24247

Total ..............

179615




Amount

72,118,539.29
69.264,695.84
95,301,446 .62
88,801,232.67
85,164,907.95
108,101,996.32
123,673,953.72
112,617,337.45
153,366,743.23
95,757,522.48
. 62,305,053.13
70,341,573.14

91491
87223
121252
112818
117690
122426
123980
129930
136280
175213
151314
194633

$1,136,815,001.84

1564250

$

Amount

Items

TOTAL

Items

11,838,424.84
12,507,320.72
16,554,500.30
12,711,981.08
15,204,876.43
14,708,563.11
15,642,362.05
17,260,157.75
19,992,953 .93
23,679,771.61
23,291,282.90
26,216,038.81

101644
96905
134713
125341
130754
136020
137745
14435 4
151411
196697
169401
218880

$ 209,608,233.53

1743865

$

Amount

$

83,956,964.13
81,772,016.56
111,855 .94692
101,513,213.75
100,369,784.38
122,810,559.43
139,316,315.77
129,877,49 5.20
173,3 5~ , 697.16

119,437,294.09
85,596,336.03
96,557,611.95
$1,346,423,235.37

Sehedule "R"-Continued.

CLEARINGS- FEDERAL RESERVE BANK OF KANSAS CITY
JANUARY 2 TO DECEMBER 31, 1919.
"Daily Average."
ITEMS ON OUR DISTRICT.
CITY

STATE BANK ITEMS

January ................
February ..............
March ....................
April ......................
May ........................
June ........................
July ........................
August ...................
September ............
October ..................
November ..............
December ..............

383580
346112
481766
472421
492664
508206
570358
620941
789342
881847
1180179
11457511

Total ..............

7(73175




Items

Amount

Items

,

,

3905
4899
6969
6669
6162
5774
5515
5681
6748
7225
8760
10319

22,375,155.95
20,458,235.52
28,631,541.12
25,476,978.10
27,684,208.90
28,162,149.28
31,333,179.27
42,525,340.52
47,513,110.51
51,799,031.49
55,958,884.00
63,297,555.54
445,215,370.20

Y'rly daily aver...

6589

COUNTRY

Amount

,

,

Items

9 ,683,636.85
. 8,729,054.40
10,043,526.83
9,230,701.06
10,360,793.87
10,596,840.07
10,367,920.02
11,889 ,038.08
13,387,819.41
12,308,635.39
13,554,016.35
12,970,067.78

41587
43461
54082
50751
51004
53704
49507
57033
72554
73781
91969
82693

11,158,801.69

60494

Amount

$

,

11,009,723.25
11,123,280.60
12,332,371.12
10,954,565.59
11,913,165.81
13,230.835.36
12,846,635 99
13,606,049.42
17,817,963.69
14,626 ,634.98
14,838,139.81
14,131,776.51
13,169,180.06

CO

H

og

•
u

Q
c
O
c
c
en

g

H
O
H

H
O

o

H
O

o

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g

s
9

a

S

a
<

|

09

•M

^^ to ^—i cx) oi oo O3 O3 io oo ^* a
CO t > 0 ] ^ 0 0 0 ) 0 1 ^ l H OJ t^
oiT-tooi—iojoo^t*oiioiao>c<i
t>» t ~ C^ ^5 ^ * 00 CO ^ * CO T-H LO »-H
O t ~ O O i O> O 00 H OOOi W O

"COOO^OOC^^OOOTOISOT

iO 00 00 »"* C i *•"* CO ?^ O3 t** CO CO
00 O4 CO CD ^? 00 L"~ ^ * CQ O«l C^ 00

•*

SSSoooocoooc2oooo^

HHCHOOMNTfrtOi-IN

oo »~H ^^ o^ c~" ^3 co c~" t*™

ocoeoo-^ot-ooooorft-

T-H CNI C J

THIMIN-^OOOJOOTllcOC-OlCO
cooc-coTi<t-i«ooir50ocoi-i
CTHoooio^foioeoMw^1

*" 1 'COSCO 0 SO?5S5'MS

ocooooSo55c2c5^5

eoc-ooooocotoooooooo
co^t^oi IO^TJ^OJ c^eo e o o c ^ ' *
00 1^5 C" Ol 00 C5 TH 00 C^J 0 i O^ Oi
co co ^5 co t"" i—i co ^* O3 ^^ io 10
00 O> O IO CO 00 Ci lO "^1* 04 itO O
-TjnofN-^iooo^comcooafM

cococoococjoioamooci

c
o
g

a

^ * CO 00 lO t™ CO ^O C"" CO 00 t*" C i

CO
00

o
at
co

00
00

io
•"*
00

en
•»

o»

00

T-l

°t

o
o
m
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H

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CO

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So
CO
t-

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00

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eo
00




^SSa^<OT§§SoOCOQoS

Total

B
4>
M

47

January
February
March
April
May
June
July
August
September
October
November
December

PQ <

I

Ite

Schedule "R"—Continued.

CLEARINGS—OMAHA BRANCH, FEDERAL RESERVE BANK OF KANSAS CITY
JANUARY 2 TO DECEMBER 31, 1919.
Items on Other Districts.

Items

January
February
March
April
May
June
July
August
September
October
November
December
Total




14279
13527
13832
11081
11368
11103
10197
9615
11226
12913
12098
14922
146161

TOTAL

COUNTRY

CITY

Amount

Items

Amount

19,760,669.65
12,743,302.27
21,212,873.70
14,166,983.30
18,665,413.81
19,270 214.87
15,520,232.13
18,822,804.47
14,901,166.12
23.068,428.65
13,302,564.96
13,019,988.53

35467
29779
31320
28920
30507
27649
36515
28588
32813
30561
32645
44511

$

10,602,699.20
6,851,936.81
8,959,551.33
6,986,917.35
7,109,011.66
6,742,627.60
7,315,398.95
7,608,438.41
8,919,464.09
8,837,555.29
7,623,837.45
8,813,792.16

49746
43306
45152
40001
41875
38752
46712
38203
44039
43474
44743
59433

$ 204,454,642.46

389275

$

96,371,230.30

535436

$

Amount

Items

$

30,363,368.85
19,595,239.08
30,172,425.03
21,153,900 65
25,774,425.47
26,012,842.47
22,835,631.08
26,431,242.88
23,820 63021
31,905,983.94
20,926,402.41
21,833,780.69

$ 300,825,872.76

Schedule "R"—Continued.

CLEARINGS—OMAHA BRANCH, FEDERAL RESERVE BANK OF KANSAS CITY
JANUARY 2 TO DECEMBER 31, 1919.
"Daily Average.M

ITEMS ON OUR DISTRICT.
CITY

STATE BANK ITEMS

Items

January
February
March
April
May
June
July
August
September
October
November
December

:

Total



89105
75640
114899
104119
105793
107354
110264
122100
135002
154003
163930
198730
1480939

$

6,357,573.83
5,282,441.93
10,768,803.28
7,901,439.20
7,802,810.82
8,207,410.62
7,907,912.69
9,380,118.39
11,077,803.11
12,772,780.37
12,393.410.96
13,382,399.93

% 113,234,905.13

Amount

Items

Amount

Y'rly daily aver...

COUNTRY

Items

Amount

1658
1672
3182
2191
3059
2677
2692
2756
2746
3319
3403
3527

$

2,031,050.64
2,041,989.12
2,386,845.22
2,191,303.47
2,526,095.34
2,352,438.34
2,228,126.79
2,444,166.45
3,016,892.08
2,815,734.15
2,719,966.08
2,771,518.41

9010
9251
11421
10705
10643
10912
10986
11002
12740
13535
15688
16654

$

2,064,205.73
1,747,769.69
2,394,997.33
1,805,426.19
1,999,719.20
2,128,999.30
1,867,042.77
2,103,160.59
2,308,078.67
2,644,138.13
2,382,397.95
2,230,396.71

2743

$

2,459,256.02

11867

$

2,141,499.46

Schedule "R"—Continued.

CLEARINGS—DENVER BRANCH, FEDERAL RESERVE BANK OF KANSAS CITY
Items on Own District.
JANUARY 2 TO DECEMBER 31, 1919.
COUNTRY

CITY

Amount

Item •

35,473,194.99
25,806,553.03
37,885,757.89
31,126.554.96
39,174,211.99
39,581,158.69
33,950,596.72
35,346,765.95
48,852.456.02
46,214.958.92
50,101,973.15
57,963,493.83

105966
88454
130181
114218
120198
118267
115873
117128
127070
144044
130244
169512

% 481,477,676.14

1481155

Items

January
February
March
April
May
June
July
August
September
October
November
December
Total




41185
38996
67987
49487
53323
54811
54715
54079
58233
60807
55296
69135
658054

$

TOTAL

Amount

Items

11,859,139.78
9,240,060.92
14,011,656.41
11,085,043.02
12,531,098.43
13,801,378.43
10,898,547.99
11,971,146.15
15,909,896.57
16,377,117.45
17,917,101.64
17,109,178.43

147151
127450
198168
163705
173521
173078
170588
171207
185303
204851
185540
238647

$ 162,711,365.22

2139209

$

Amount

$

47,332,334.77
35,046.613.95
51,897.414.30
42,211,597.98
51,705,310.42
53,382,537.12
44,849,144.71
47,317,912.10
64,762,352.59
62,592,076.37
68,019,074.79
75,072,672.26

$ 644,189,041.36

Schedule uR"-Continued.

CLEARINGS-DENVER BRANCH, FEDERAL RESERVE BANK OF KANSAS CITY
Items on Other Districts.

JANUARY 2 TO DECEMBER 31, 1919.
COUNTRY

CITY

Items

January ...............
February ..............
March ....................
April ................... ._May ........................
June ........................
July ........................
August ..................
September
October ..................
November ..............
December ..............

7358
5896
8937
8100
7748
7590
8050
8077
8133
8097
30976
41942

Total... ......... ..

150904




Item.

Amount

$

24,655,817.25
20,404.852.48
28,889,651.14
23,867,462.57
29,804,032.16
28,270,711.58
24,098,923.74
25,374,186.68
32,755,218.08
27,427,087.18
30,182 ,876.46
22,504,557.09

$ 318,235,376.'1

-

TOTAL

Amount

Items

Amount

19342
20819
25056
23938
23170
24516
28169
30317
27960
34215
51365
62329

$

1,841,400.54
1,392,381.52
3,486,620.55
3,948,744.21
4,100,070.56
3,276,762.48
3,450,573.04
3,855,002.18
4,297,457.89
5,082,316.65
7,753,993.52
8,282,410.90

26700
26715
33993
32038
30918
32106
36219
38394
36093
42312
82341
104271

$

3711116

$

50,767,734.0'

522100

$ 369,003 ,110.45

26,497,217.79
21,797,234.00
32,376,271 .69
27,816,206.78
33,904,102.72
31,547,474.06
27,549,496.78
29,229 ,188.86
37,052675.97
32,509 ,403.83
37,936,869.98
30,786,967.99

Schedule "R"-Continued.

CLEARINGS-FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
Items on 0 wn District.
JANUARY 2 TO DECEMBER 31, 1919.
CITY

COUNTRY

TOTAL

Items

Items

Amount

Items

Amount

January ................
February ..............
March ....................
April ......................
May ........................
June ........................
July ........................
August ..................
September
October ..................
November ..............
December ..............

191397
190138
331939
277650
293074
266094
268092
273413
295587
343187
335086
429128

$ 351,769,757.47
273;494,554.77
361,075,431.41
325,657,369.34
374,233,331.77
363,313,119.07
361,447,813.79
408,010,083.98
458,970,243.28
451,747,202.36
424,403,569.20
467,244,735.14

847998
738883
1056729
959486
951948
943603
923627
960438
1072027
1212024
1248149
1330727

$ 221,802,160.27
178,166,284.50
215,494,519.81
184,993,871.21
212,634,879.31
212,604,283.34
192,062,454.30
212,196,409.68
230,806,142.18
264,128,763.72
239,114,436.54
247,454,354.20

1039395
929021
1388668
1237136
1245022
1209697
1191719
1233851
1367614
1555211
1583235
1759855

$ 573,571,917.74
451,660,839.27
576,569,951.22
510,651,240.55
586,868,211.08
575,917,402.41
553,510,268.09
620,206,493.66
589,776,385.46
715,875,966.08
663,518,005.74
714,699,089.34

Total ..............

3494785

$4,621,367,211.58

12245639

$2,611,458,659.06

16740424

$7,232,825,770.64




Amount

Schedule "R"-Continued.

CLEARINGS...:....DENVER BRANCH, FEDE~AL RESERVE BANK OF KANSAS CITY
JANUARY 2 TO DECEMBER 31, 1919.
"Daily Average."

ITEMS ON OUR DISTRICT.
STATE BANK ITEMS

Items

January ................
February ..............
March ....................
April ......................
May ........................
June ........................
July ........................
August ..................
September
October ..................
November ..............
December ..............

53418
49206
65216
61759
67193
65749
65387
69824
81656
85009
86658
123820

Total ..............

874895




CITY

Items

Amount

,

,

2,794,514.18
2,393,116.29
3,168,804.86
3,035,502.62
3,525,712.13
3,268,442.66
3,236,595.96
3,781,822.13
4,498,910.12
5,358,550.88
6,359,955.18
7,817,110.82
49,239,037.83

1525
1691
2719
1979
2051
2192
2104
2163
2329
2252
2513
2659

Y'rly daily aver...

2164

COUNTRY

Amount

,

,

Items

1,303,822.04
1,122,024.04
1,515,430.32
1,245,062.20
1,506,700.46
1,583,246.35
1,305,792.18
1,413,870.64
1,954,098.24
1,711,665.15
2,2J7,362.42
2,229,365.15 ·

6892
7147
9176
8321
8396
8645
8364
9014
9793
10051
13602
15292

1,583,808.12

9468

Amount

$

,

1,524,106.36
1,453,496.14
1,982,269.32
1,677,470.10
1,921,573.59
1,944,691.81
1,603,255.41
1,799,286.30
2,298,459 .31
2,009,076.75
2,827,937.58
2,142,817.59
1,911,031.30

Schedule "R"-Continued.

CLEARINGS-FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES

Items on Other Districts.
JANUARY 2 TO DECEMBER 31, 1919.
CITY

Amount

Items

January ................
February .. -...........
March ....................
April ......................
May ........................
June ........................
July ........... .............
August .............. ....
September
October .............. ....
November ....... .......
December ..............

31790
29105
36230
31704
32180
32287
32012
32116
34490
42494
61161
81111

Total ..............

476680




COUNTRY

,

Iteml

116,535,026.19
102,412,850.59
145,403,971.46
126,835,678.54
133,634,353.92
155,642,922.77
163,293,109.59
156,814,328.60
201,023,127.43
146,253,038.31
105,790,494.55
105,866,118.76

146300
137821
177628
165676
171367
174591
188664
188835
197053
239989
235324
301473

$1,659,505,020.71

2324721

Amount

TOTAL

Items

Amount

24,282,524.58
20,751,639.05
29,000,672.18
23,647,642.64
26,413,958.65
24,727,953.19
26,408,334.04
28,723,598.34
33,209,875.91
37,599,643.55
38,669,113.87
43,312,241.87

178090
166926
213858
197380
203547
206878
220676
220951
231543
282483
296485
382584

$ 140,817,550.77
123,164,489.64
174,404,643.64
150,483,321.18
160,048,312.57
180,370,875.96
189,701,443.63
185,537,926.94
234,233,003.34
183,852,681.86
144,459,608.42
149,178,360.63

$ 356,747,197.87

2801401

$2,016,252,218.58

$

Schedule "R"-Continued.

CLEARINGS-FEDERAL RESERVE BANK OF KANSAS CITY AND BRANCHES
JANUARY 2 TO DECEMBER 31, 1919.
"Daily Average."

ITEMS ON OUR DISTRICT.

CITY

STATE BANK ITEMS

Items

January ................
February
March ....................
April ......................
May ........................
June ........................
July ........................
August -_ ..-........ -...September
October ..................
November ..............
December ..............

526103
470958
661881
638299
665650
681309
746009
812865
1006000
1120859
1230767
1268309

Total ..............

9829009




Item.

Amount

,

,

31,527,243.96
28,133,793.74
42,569,149.26
36,413,919 .92
39,012 ,731.85
39,638,002.56
42,477,687.92
55.687,281.04
63,089,823.74
69,930 .362.74
74,712.250.14
84,497,066.29
607,689,313.16

Y'rly daily aver...

COUNTRY

Amount

Items

Amount

7088
8262
12870
10839
11272
10643
10311
10600
11823
12796
14676
16505

$

13,018,509.54
11,893,067.56
13,945,802.37
12,667,066.73
14,393,589.67
14,532,524.76
13,901,838.99
15,747,075.18
18.358,809.73
16,836,034.69
18,551,344.85
17,970,951.34

57489
59859
74679
69777
70043
73261
68857
77049
95087
97367
121259
114639

$

14,598,035.34
14,324,546.43
16,709,637.77
14,437,461.88
15,834,458.60
17,304,526.47
16,316,934.17
17,508.496.31
22,421,501.67
19,279,849 .86
20,048,475.34
18,504,990.81

11496

$

15,201,865.83

81829

$

17,221,710.82

Schedule "S."

CERTIFICATES OF INDEBTEDNESS ANTICIPATORY OF VICTORY LIBERTY LOAN.
Total
820
1,974
52
24

subscription for District
National Banks subscribed
State Banks subscribed
Trust Companies subscribed
Individuals subscribed

$126,837,500.00
44,753,500.00
15,345,000.00
809,000.00

$187,745,000.00

187,745,000.00
Per Cent
84.44
61.61
72.22

820 National Banks subscribed out of total of 971
1,974 State Banks subscribed out of total of 3,204
52 Trust Companies subscribed out of total of 72

s

Schedule "T."

CERTIFICATES OF INDEBTEDNESS, SERIES OF 1920.
Total
477
595
27
36

subscription for District
National Banks subscribed
State Banks subscribed
Trust Companies subscribed
Individuals subscribed

$ 47,141,000.00
10,411,500.00
8,066,000.00
620,000.00

$ 66,238,500.00

66,238,500.00
477 National Banks subscribed out of total of 971
595 State Banks subscribed out of total of 3,204
27 Trust Companies subscribed out of total of 72




Per Cent
49.12
18.57
37.50

Schedule "U."

CERTIFICATES OF INDEBTEDNESS, SERIES OF 1920.

Date

August 1, 1919
August 15, 1919
September 2, 1919
December 1, 1919
Totals




Due

January 2, 1920
January 15, 1920
February 2, 1920
February 16, 1920

Rate

4Ms%
4%%
4%%
4%%

Number of
Subscribers

•

Paid by
Credit

Total
Subscription

658
621
626
339

$ 13,195,000.00
16,778,000.00
11,910,000.00
5,273,000.00

$ 20,000,000.00
20,238,500.00
16,000,000.00
10,000,000.00

2,244

$ 47,156,000.00

$ 66,238,500.00

Schedule "V."

CERTIFICATES OF INDEBTEDNESS ANTICIPATORY OF VICTORY LIBERTY LOAN.
Date

December 5, 1918.
December 19, 1918.
January 2, 1919
January 16, 1919
January 30, 1919
February 13, 1919.
February 27, 1919.
March 13, 1919
April 10, 1919
May 1, 1919

Totals.




Due

May 6, 1919
May 20, 1919
June 3, 1919
June 17, 1919
July 1, 1919
July 15, 1919
July 29, 1919
August 12, 1919
September 9, 1919.
October 7, 1919

Rate

4%%
4y2%

4%%
4%%

Number of
Subscribers

Paid by
Credit

Total
Subscription

1,145
1,137
1,378
1,365
1,435
1,338
1,024
859
675
516

$ 14,825,793.61
15,695,493.74
12,934,988.64
12,474,718.23
13,847,191.34
• 13,845,997.96
16,641,103.35
11,400,294.05
8,992,966.73
17,372,699.28

$ 21,115,000.00
20,778,500.00
19,050,500.00
18,403,500.00
20,000,000.00
18,500,000 00
20,040,000.00
16,750,000.00
13,000.000.00
20,107,500.00

10,872

$138,031,246.93

$187,745,000.00

Schedule "W."

CERTIFICATES OF INDEBTEDNESS, TAX SERIES.

Date

January 16, 1919
March 15, 1919
June 3, 1919
June 3, 1919
July 1, 1919
July 1, 1919
July 15, 1919
September 15, 1919
September 15, 1919
December 1, 1919....
December 15, 1919....
Totals




Due

June 17, 1919
June 16, 1919
September 15, 1919
December 15, 1919
September 15, 1919
December 15, 1919
March 15 1920
March 15, 1920
September 15, 1920
March 15, 1920
June 15, 1920

Rate

4V 2 %
41/2%
41/2%
41/2%
41/2%
41/2%
41/2%

4%%
41/2%
414^0
41/2%

Number of
Subscribers

Total
Subscription

Paid by
Credit

228
84
186
139
255
310
255
235
416
484
733

$ 2,239,435.26
823,617.73
3,994,887.74
1,157,530.71
4,579,624.95
4,355,456.18
5,828,366.49
1,567,675.08
2,593,036.38
3,350,652.61
9,359,748.21

$

4,101.000.00
1,820,00000
7,681.500 00
2,502,500 00
8,222,000.00
6,551,500.00
7,670,000.00
2,835,000.00
4.165,000.00
6,264.500.00
20,025,000.00

3,325

$ 39,850,031.34

$ 71,838,000.00

Schedule "X.

VICTORY LIBERTY LOAN NOTES.

Colorado
Kansas .
Missouri
Nebraska
New Mexico
Oklahoma
Wyoming
Total




Number of
Subscribers

Quota

Subscription

Scale

Allotment

118,829
157,435
91,214
139,685
5,789
79,959
28,611

$ 28,385,350.00
49,442,750.00
31,695,150.00
51,907,900.00
700,000.00
28,382,550.00
6,414,550.00

$ 29,779,650.00
51,613,250.00
32,412,850.00
43,921,450.00
1,042,400.00
31,505,850.00
7,178,400.00

$1,198,500.00
405,000.00
949,000.00
835,350.00
1,320,550.00
316,150.00

$ 28,581,150.00
51,208,250.00
31,463,850.00
43,086,100.00
1,042,400.00
30,185,300.00
6,862,250.00

621,522

$196,928,250.00

$197,453,850.00

$5,024,550.00

$192,429,300.00

Schedule "Y/

CLASSIFICATION OF SUBSCRIPTIONS, VICTORY LIBERTY LOAN NOTES.

Size of Subscriptions

$

50
10,050
50,050
100,050
200,050

to $ 10,000
to
50,000
to 100,000
to 200,000
and over

Totals




Number of
Subscribers

Amount

620,353
1,033
97
29
10

$153,990,000
23,707,000
8,815,300
4,839,550
6,102,000

621,522

$197,453,850

Class

National Banks
State Banks
Trust Companies
Corporations and Individuals

Total

Amount

$ 97,784,150
84,369,300
8,508,750
6,791,650

$197,453,850

Schedule "Z."

CHARACTER OF PAYMENTS, FOURTH LIBERTY LOAN.
By Cash

1918 Installments
Installment, January 16, 1919
Installment, January 30, 1919

:

Total

Schedule "ZZ."

$ 79,973,755.86
7,774,316 26
8,316,715.81
$ 96,064,787.93

10 per cent payment and cash sales to May 20
Completion of payment, June 3
Installment, July 15
Installment, August 12
Installment, September 9
Installment, October 7
Installment, November 11




By Cert, of
Indebt.

Total
Principal

Accrued
Interest

$102,093,279.14 $ 73,502,500.00 $255,569,535.00 $
706,000.00
12,369,683.74
20,850,000.00
485,000.00
10,728,589.19
19,530,305.00

135,349.54
117,424.52
465,243.00

$125,191,552.07 $ 74,693,500.00 $295,949,840.00 $

718,017.06

CHARACTER OF PAYMENTS, VICTORY LIBERTY LOAN.
By Cash

Total

By Credit War
Loan Account

31,381,745.18
3,300,113.78
9,231,054.49
6,166,060.55
4,122,760.81
3,691,565.98
2,252,184.21
$ 60,145,485.00

By Credit War
Loan Account

By Cert, of
Indebt.

$ 39,179,769.82
10,570,516.22
13,469,845.51
10,134,314.45
5,205,124.19
4,565,849.02
3,227,275.79

41,001,000.00 $111,562,515.00
4,069,000.00
17,939,630.00
515,500.00
23,216,400.00
20.9,500.00
16,509,875.00
9,438,385.00
110,500.00
8,257,415.00
5,479,460.00

Total
Principal

$ 86,352,695.00 $ 45,905,500.00 $192,403,680.00 $

Accrued
Interest

477.08
31,842.73
109,756.22
117,694.63
62206.27
106.271.45
345,292.53
773,540.91

INDEX
Text:
Directors and Officers
Introduction
Financial Results of Operation
Earnings
Comparative Statement
Dividends
Discount Operations
Trade Acceptances
Bankers' Acceptances
Reserve Position
Movement of Membership
National Banks
State Banks
Fiduciary Powers
Bank Examinations
Fiscal Agency Operations
Treasury Certificates of Indebtedness
War Loan Depositories
Victory Liberty Loan
Conversions
Government Savings Organization
War Finance Corporation
Note Issues
Federal Reserve Notes
Federal Reserve Bank Notes
Position of Commercial Banks as a Result of W a r Financing
Policy to be Pursued in Liquidity of Banks
Operation of Federal Reserve Bank Branches
Omaha Branch
Denver Branch
Oklahoma City Branch
_
Miscellaneous—
Directorate
Internal Organization
Clearing Operations
Collection Facilities
Private Wire System
Banking Quarters—New Building
Exhibits!
1. Movement of Earning Assets During Calendar Year
2. Movement of Cash Reserves, Net Deposits, Etc
Schedules:
A. Comparative Earnings, Expenses & Dividends
AA. Profit & Loss Account
B. Comparative Statement of Resources & Liabilities
C. Discount Operations for the Tear 1919
Discount Rates in Effect During the Year 1919
D. Open Market Transactions
E. W a r r a n t s
F. United States Securities
Purchases—Sales—Conversions
G. Average Discount Holdings
Earnings—Rates
H. Reserve Position
I. Membership
J. Member Bank Deposits—Deficient Reserves
K. Government Account




PAGE
2
3
3

4
4
5
5
5
6
6
7

8

i

8
9
9
9
10
11
11
12
12
13
13
13
14-15
16-17
18-21
22-23
24-27
28
29
30
31
31-32
32
33
34
35
3g

INDEX—Continued
L.
M.
N.
O.
P.
Q.
R.
Fiscal
S.

Balance Statement Federal Reserve Notes
37
Federal Reserve Notes Received & Returned
38-39
Expense Federal Reserve Notes
40
Monthly Payroll
41
Additional State Bank Members
42
National Banks Granted Fiduciary Powers
43
Clearing-s
44-5o
Agency Transactions—
Subscriptions to Certificates of Indebtedness
56
(Victory Liberty Loan)
T. Certificates of Indebtedness—Series of 1920
56
(Bank Subscriptions)
U. Certificate of Indebtedness—Series of 1920, classified by i s s u e s . .
57
V. Issues of Certificates of Indebtedness (Victory Liberty L o a n ) . . . .
58
W. Certificates of Indebtedness—Tax Series
59
X. Victory Liberty Loan Notes
CO
Y. Classification of Subscriptions, Victory L i b e r t y Loan N o t e s . . . .
61
Z. C h a r a c t e r of P a y m e n t s , F o u r t h L i b e r t y Loan
62
ZZ. C h a r a c t e r of P a y m e n t s , Victory L i b e r t y Loan
62