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\ v 1 , * ' r . ( % Released, f o r p u b l i c a t i o n Sunday morning A p r i l 1 3 , 1919; n o t e a r l i e r . S t , 327 STATEMENT FOR THE PRESS A p r i l 3.2 , 1919 t D i s c o u n t i n g on a l a r g e s c a l e "by most of t h e Reserve "barks of "both war p a p e r a n d commercial b i l l s , i n c o n n e c t i o n w i t h h e a v y w i t h d r a w a l s of Gsmrnment d e p o s i t s f r o m s p e c i a l d e p o s i t a r i e s , i s i n d i c a t e d by t h e F e d e r a l ^Reserve B e a r d ' s weekly b a n k s t - t e n l e n t i s s u e d a s a t c l o s e of b u s i n e s s on A p r i l 11, 1919 . The s t a t e m e n t a l s o shows a d e c r e a s e of over 8 m i l l i o n s i n g e l d r e s e r v e s due l a r g e l y to t h e h e a v y r e d e m p t i o n d u r i n g t h e week of F e d e r a l R e s e r v e n o t e s . War p a p e r on hand i n c r e a s e d 9^ <5 m i l l i o n s , t h e Mew York b a n k a l o n e r e p o r t i n g an i n c r e a s e of a b o u t 64 m i l l i o n s u n d e r t h i s h e a d . 7*4 m i l l i o n s . O t h e r d i s c o u n t s went up Acceptances declined 22,2 m i l l i o n s , while Treasury c e r t i f i c a t e s on hand show a g a i n of over 7 m i l l i o n s , l a r g e l y a t t h e New York Bank. the f i r s t For time t h e s t a t e m e n t shows i n a f o o t n o t e the amounts of d i s c o u n t e d p a p e r and b a n k a c c e p t a n c e s a c q u i r e d f r o m o t h e r R e s e r v e t a n k s on hand a t t h e s e v e r a l F e d e r a l R e s e r v e B^jiks, As t h e r e s u l t of t h e c o n s i d e r a b l e i n c r e a s e i n d e p o s i t s show a g a i n f o r t h e Week of 7^>5 m i l l i o n s . Government d e p o s i t s , n e t Federal Reserve n o t e s in c i r c u l a t i o n in^.reased l e s s than a ' m i l l i o n , while t h e banks' a g g r e g a t e l i a b i l i t i e s on F e d e r a l R e s e r v e b a n k n o t e s i n c r e a s e d 2 , 1 m i l l i o n s . The b a r k s ' r e s e r v e p e r c e n t a g e , a s t h e r e s u l t of t h e l a r g e i n c r e a s e i n d e p o s i t l i a b i l i t i e s and t h e s i m u l t a n e o u s r e d u c t i o n of r e s e r v e s , per c e n t , * shows a d e c l i n e f r o m ^ 2 , 2 to $ 1 , 1 V Released, f o r p u b l i c a t i o n Sunday m o r n i n g A p r i l 13, 1919; n o t e a r l i e r . . St-327 STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS APRIL 11, I 9 I 9 . R E S O U R C E S A p r i l 11, I9I9 • M p r i l 4, I919 A p r i l 12,19I8 Gold c o i n and c e r t i f i c a t e s • $335,1-62,000 $333,334,000 $ 488,762,000 Gold S e t t l e m e n t Fund - F.R^B.oard 610,196,000 612,711,000 U07,9/1,000 Gold w i t h f o r e i g n a g e n c i e s _ . 5 2 , 5 00]000 T o t a l g o l d h e l d by b a n k s 9^5,353,000 91+6,095,000 9U9 ]?.^~^000 Gold w i t h F e d e r a l R e s e r v e a g e n t s 1,082,444,000 1,100,173,000 857^92,000 Gold r e d e m p t i o n fund. 115,078.000 104.6S2.C00 .23,546.000 Total gold r e s e r v e s 2,142,880,000 2,150,950,000 1,830,271,000 Legal tender n o t e s , s i l v e r , etc69.109.000 67,678,000 64.724.000 Total reserves 2,211,989,000 2 , 2 1 8 , 6 2 8 , 0 0 0 1 , 8 9 4 , 9 9 5 000 -RiTK r n c r - ^ n t p f ( S e c u r e d by Government war o b l i g a t i o n s 1,767,4^,000 ./ 1,674,916,000 4^5,625,000 1 ^ (All other 200,49^7000"" U 193 ,066,000 247,182,000 B i l l s bought, i n open m a r k e t 218,59^,000 240.790.000 3J8.857,000 T o t a l b i l l s on hand " 2,186,514,000 2 , 1 0 8 , 7 7 2 , 0 0 0 1 , 0 3 1 ,"664,000 U.S.Government l o n g - t e r m s e c u r i t i e s 27,136,000 27,134,000 54,237,000 U,S,,Government s h o r t - t e n n s e c u r i t i e s 185,711,000 178,646,000 l42,143,000 All other earning a s s e t s 22.000 3,0C0 3,771.000 Toiax e a r n i n g a s s e t s 2,399,383,000 2 , 3 1 4 , 5 5 5 , 0 0 0 1,231,815,000 Bank p r e m i s e s 1 ° ,558,000 9,713,000 U n c o l l e c t e d i t e m s and o t h e r . d e d u c t i o n s from g r o s s d e p o s i t s •636,384,000 644,959,000 324,824,000 5°/° Redemption f u n d a g a i n s t y,R„ b a n k n o t e s 6,988,000 6,792,000 537 '000 All ether resources 7.332,000 7,738iooo 324'.000 TOTAL RESOURCES 5,2/2,634,000 5,202,385,000 3,512,495,000 L I A B I L I T I E S *5;: Capital paid-in 81,750,000 81,658,000 74,748,000 Surplus 49,466,000 49,466,000 1,134,000 Government d e p o s i t s 169,972,000 85-008,000 100,523,000 Due t o members - Reserve a c c o u n t 1,628 ,693 ,000 1,655,298,000 1 ^ 4 ,537 ,000 Deferred a v a i l a b i l i t y items 487.153,000 487,593,000 239,2/0,000 Other d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s 128.481,000 120 4 2 6 . 0 0 0 84.321.000 Total gross deposits 2,4l4,299,000 2 , 3 4 s ,325,000 1,918,651,000 F.R. notes in a c t u a l c i r c u l a t i o n 2,54s,588,000 2 , 5 4 7 , 6 7 0 , 0 0 0 1 , 4 9 9 ,377 ,000 F . R. b a n k n o t e s i n c i r c u l a t i o n - n e t l i a b i l i t y 1R1-,5^0,000 l 4 g ,44*9,000 8,000,000 All other l i a b i l i t i e s 26,971,000 25,517.000 10.S8S.000 TOTAL LIABILITIES 5,2/2,634,000 5,202,385,000 3,512,495,000 R a t i o of t o t a l r e s e r v e s t o n e t d e p o s i t and F . R . n o t e l i a b i l i t i e s combined ^l.lfo 52-2^ 62, j f , R a t i o of g o l d r e s e r v e s t o F.R- n o t e s i n c i r c u l a t i o n a f t e r s e t t i n g aside 35$ against n e t deposit l i a b i l i t i e s 62 Mf0 63.7% R e l e a s e d f o r p u b l i c a t i o n Sanday m o r n i n g A p r i l 13, 1 $ ! $ ; n o t e a r l i e r . WEEKLY STATEMENT OF BE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS APRIL 11, 1 9 1 9 ( i n t h o u s a n d s of d o l l a r s . ) B o s t o n Ne.w York 247,793 . 2"145,010 47 , 782 51,ly6 392,808 53 „ 77'S 279,939 25,000 lfc,4si 121,455 697,747 ._JL_ri£2_ 751,406 127,53/ R E S O U R C E S P h i l a . C l e v e l . Richm. A t l a n t a C h i c a g o S t . L o u . i s 2b3 IS,690 2 . 2 0 b 8 , 1 8 7 23,209 3,994 S t .3 27b # Total M i n n . K a n s . C y * D a l l a s San F r a n . 8,328 92 7 , 0 9 1 1 0 , 8 9 0 3 3 5 , 1 6 2 Gold c o i n a n d c e r t i f i c a t e s - - 46,281 6.2,945 27,382 17,095 125,561 27,190 32,468 31,332 7,269 39,821 610,196 Gold s e t t l e m e n t f u n d - 5'.R.Board T o t a l g o l d h e l d by b a n k s - - 46,544 82,635 29.58S 25,282 148,770 31,184 40,796 31,424 14,360 50,771 945,358 Gold w i t h F e d e r a l R e s e r v e A g e n t s 70,073 133,975 35,944 4i,291 242,786 41,704 30,139 36,877 17,89s 9S,O4O 1,082,444 5.727 25,509 5,750 %J02 5.^662. 2,029 3+264 115.^18. 13,363 1,671 Gold r e d e m p t i o n f u n d - - - - - Total gold reserves - - - - 129,yso 218,281 73,775 72300 417,065 78,63% 73:307 73,970 34,287 152,07 5 2,1.42,880 232 69+lQ9_ Legal tender n o t e s , s i l v e r , e t c . 2/6 1, 068 547 1,185 1,370 2.22b 119- -22L 2,219 130,256 219343 74,322 73,"485 418,43 5 80,866 73,426 74,094 36,506 152,307 2 . 2 11,989 Total reserves - - - - - - - - B i l l s discounted: H3> S e c u r e d b y Government war 2 3 , 2 4 0 76,719 1 J 6 7 , 4 } 2 - ^ 4 3 , ^ 8 67,952 202,o4o 73,o68 42,O4O 692,682 174,204 131,219 89,157 o b l i g a t i o n s ( a ) - - - - - - - 151,733 18,346 200,49 4 2 , 6 7 0 ' 28,84c All other - - - - - - - - - 5,564 31,507 13,186 7.269 11,112 1 2 , 8 0 5 1 6 , 1 3 4 9 , 6 2 0 3 , 4 3 1 212*590— -3k,5CZ. B i l l s "bought i n open m a r k e t ( b ) 2,0-3-2- - 5 M H Z — 2 9 - ^ 1 - 9 — W J O lr-923-Tiki—^iVO-52—-2-3 • h4l J - r 3 # 2,186,514 5 4 , 0 1 1 129,572 T o t a l b i l l s on h a n d - - - - — l65> 329 7Sl!206 188,411 168,207 107>39 86,4qs 249,347 93,74o 69,312 93,44% 27,136 2,632 116 U, SvC-o^1t< l o n g - t e r m s e c u r i t i e s Rbg 377 4,476 1,1s 1,306 1,355 1,083 1,234 l:U 185,711 7 , 0 8 3 8,809 8,474 17,612 12,068 69,5^4 16,281 i4,4i6 5,360 U.S.G-TvH. s h o r t - t a n a s e c u r i t i e s - 1 5 , 4 l 6 22 22 All other earning a s s e t s - - - ~ 139,237 2,399,383 62,37S 108,579 852,056 206,077 183,706 114,033' 95,3 49 271,435 106,961 78,237 'Total e a r n i n g a s s e t s - - - - 181,235 400 10,55s 4oo 221 217 2,936 541 3,372 500 875 296 Bank p r e m i s e s - - - - - - - - 800 U n c o l l e c t e d i t e m s and o t h e r 162,866 61,377 43,026 4 l j 12 3 1 , 8 4 4 80,795 4 4 , 0 7 9 18,727 4 9 , 4 o s 18,560 28,07s 636,3.84 deductions from gross d e p o s i t s 55,912 5$ redemption f u n d a g a i n s t F,R, 6,988 35s 689 334 474 162 435 226 1,800 233 825 727 bank n o t e s - - - - - - - - - 745 828 654 7,332_ 122 456 247 U51 506 205 570 1,992 1, 089 All other resources - - - - - 212 TOTAL RESOURCES 366,4gi 1,773,492 400,124 44s, <34 231,031 201,515 77 4,397 233,168 170,745 233,626 118,653 321,258 5,272,634 ME M 0 R A N D A ( a ) Incluc-Os b i l l s d i s c o u n t e d f o r other F.R. banks,viz-- (b) I n c l u d e s b a n k e r s ' a c c e p t ances bought from other F.R. banks • • ' With t h e i r endorsement Without t h e i r endorsement 15,950 29,930 io,o4s 1,753 1,050 & c K- ^ 15,000 >0,562 136 2©^ ,7. - 11,190 101,492 6,529 J• . n,9S7 ca.*t.JTC,£. R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g A p r i l 13, 1A19; n o t e a r l i e r . WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS APRIL 11, 1919( i n t h o u s a n d s of d o l l a r s . ) L I A B I L I T I E S B o s t o n New York P h i l a . C l e v e l . R i c l m . A t l a n t a 3,1°2 6,784 20,956 Capital paid-in - - - - - - - 9,210 4 ; 165 7,585 2,60s 3,552 2 , 1 9 6 1 , 5 1 0 21,117 S u r p l u s —— — — — — — — — — - —2 , 9 9 6 28,661 Government d e p o s i t s - - - - - 6,820 2 4 , 7 7 2 23,7?d 1,307 5,544 BUST t o members - R e s e r v e a c c o u n t 96,905 685,637 9 9 , 6 7 9 12^,603 5 3 , 5 6 1 4 5 , 8 5 0 Deferred a v a i l a b i l i t y items - 124,228 58,684 3 7 , 5 0 3 3 5 , 6 5 1 2 2 , 2 4 2 40,938 116.119 All other deposits - - - - - - 48 83 I88_ J70_ L23JL T o t a l g r o s s d e p o s i t s - - - - - l68,?.4o 9 4 9 , 7 6 0 1 6 5 , 9 7 1 187,548 9 0 , 5 6 7 7 3 , 7 1 9 n o t e s i n a c t u a l c i r c u l a t i o n - 171,265 738,122 206,336 2 3 3 , 0 4 2 1 2 7 , 6 0 4 1 1 4 , 0 / 8 IMUbank n o t e s i n c i r c u l a t i o n 14,710 net l i a b i l i t y - - - - - - - 8,017 3 3 , 9 2 0 15,526 12,981 5,217 2 k&6 All other l i a b i l i t i e s - - - - 2,098 1. 8 0 1 9,611 1.282 399 366,491 1,773,492 400,124 448^134 231,031 201,515 TOTAL LIABILITIES s t .327c Total C h i c a g o S t . L o u i s M i n n . K a n s . C y . D a l l a s San F r a n 81,750 3,200 4 , 6 9 8 3,742 11,418 2,974 3,826 4 9,466 2 , 4 4 8 1 , 1 8 4 2 , 4 2 1 1,415 6,416 1,603 1 6 9,972 9 , 2 0 5 3,661 3 0 , 4 8 3 12,606 12,899 10,23s 1,628,693 8 3 , 8 6 9 223,680 5 9 , 6 6 5 5 0 , 4 9 8 67,322 3 7 , 4 2 1 52,444 3 6 , 2 6 4 3 , 9 3 3 36,230 16,456 1 7 , 2 8 0 4 8 7 , 1 5 3 -85- . _ 3 » J - 4 4 216 iio 648 2.J34 5 7 , 6 2 3 116,09s 2 , 4 1 4 , 2 9 9 3 0 8 , 9 4 1 109,136 7 2 , 5 4 6 n 4 , i o o 4 2 5 , 2 7 9 107,763 87,692 9 8 , 7 4 0 49,011 1 8 9 , 6 5 0 2 , 5 4 3 , 5 3 8 19,860 9,805 5 , 3 7 7 J4-L 92-52>4si 774,"397 233,168 1 7 0 , 7 4 5 233T626 6,555 6,537 -VS2Z 151,560 2&r9&L 118,653 3 21,258 5,272,634 25,542 101,492 MEMORANDA Contingent l i a b i l i t y a s endorser on Discounted paper rediscounted w i t h o t h e r FVR. b a n k s - - Bankers1 acceptances sold to o t h e r F» S - b a n k s - - - - - 45,950 - - 10,000 20,000 11,987 11,987 FEDERAL RESERVE NOTES OUTSTANDING- AND IN ACTUAL CIRCULATION F . R. n o t e s o u t s t a n d i n g - - - - 1 7 8 , 5 4 5 7,280 F . R, n o t e s h e l d b y b a n k - - - F . R , n o t e s i n a c t u a l c i r c u l a t i o n 171,265 B i l l s discounted - - - - - - - - - - B i l l s b o u g h t i n open m a r k e t - - - - U.S.Government s h o r t - t e r m s e c u r i t i e s - 810,386 215,400 242,718 131,057 72,258 9,064 9,676 3,453 117,487 449,881 122,378 3.409 24,602 14,615 7 3 8 , 1 2 8 2 0 6 , 3 3 6 2 3 3 , 0 4 2 127^604 1 1 4 , 0 7 8 4 2 5 , 2 7 9 1 0 7 , 7 6 3 89,255 1.563 87,692 104,674 5,934 9S,740 211,864 2 , 7 2 4 , 0 9 7 l,44l 22J^i4 175,509. 4 9 , 0 1 1 189,650 2,548,588 50,452 DISTRIBUTION OF BILLS.&'TTT S . GO VERT: ZNT SHORT-TERM SECURITIES^BY MATURITIES Over 9 0 d a y s 6 l t o 90 days W i t h i n 15 d a y s l b t.ch 3 0 d a y s 3 1 t o 60 days 22, 264 5 2 , 7 4 2 1,731,817 1 0 3 , 6 3 4 57,467 1 0 , 3 9 S 78,832 7 8 , 5 0 1 50,859 147,352 1,611 3,624 3,749 29,375 Total 1,967,924 218,590 185,711 R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g A p r i l 15, 1919J n o t e a r l i e r . S t .3 27 d STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS APRIL 11, I 9 I 9 . ( i n t h o u s a n d s of d o l l a r s . ) Boston New York phi l a . Clevel- Richca- A t l a n t a Chicago S t . L o u i s Minn. K a n s . Cy • D a l l a s San F r a n . Total FEDERAL CRAL RESERVE NOTES: • . ^ -286,)WO 1 . 4 4 6 , 9 8 0 347 , 220 3 ^ 1 , 7 ^ 0 220,820 213,360 579,'i00 1 8 4 , 3 2 0 12o,880 1 5 9 , 7 0 0 101, 960 2 5 9 , 6 2 0 4 , 2 o S , 4 0 0 R e c e•i \v e d f r o m C o m p t r o l l e r xrned to Comptroller 85,6)5 4 g 7 , 5 9 4 110,920 6 6 , 7 0 2 59,823 39,793 97,279 4 7 . 3 0 2 26,735 4 1 , 4 4 6 28.363 4 1 , 7 5 6 1 143,348 3R.0 "Itcl"' 'i Chargeable " t o ^ F ' . B r A g e n t - 2 0 0 j 5 B 236,300 2 7 5 ^ 3 8 160,997 137',01S lOQ'ffilSC&^lTdSl Zlf^^TT^BToSz I n h a n d s of F . R- Agent 22,220 139,000 20,900 3 2 , 3 2 0 2 9 , 9 ^ 0 5 6 , 0 8 0 3 2 , 2 ^ 0 l 4 , 6 4 o 10,890 13,580 2 3 , 1 4 5 6,000 400,955 I s s u e d t o F.R- bank l e s s amount r d t u r n e d t o F- R• Agent f o r r e d e m p t i o n — — 178,5-45 810,386 215.400 2 4 2 . 7 1 8 131,057 ^ , 4 8 1 4 4 q , g g l 122.37 8 89,255 104,674 50.452 211,864 2.724,097 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on h a n d Geld r e d e m p t i o n f u n d 9,778 1 183,740/ 1 1 , 1 9 * 15,183 24,870 14,106 1,9# 2,5o4 2,787 95,000 34,000 36,000 530.44-£ 145.328 1 0 8 , 7 4 2 810,386 215,400 2 4 2 , 7 1 8 131,057 Gold S e t t l e m e n t Fund - F-R. Board E l i g i b l e p a p e r , minimum r e q.uired Total 124,767 AMOUNT OF ELIGIBLE PAPER DELIVERED TO F . R . AGENT— 165,329 781,206 44,000 178,545 85,000 / 54,889 i4g,625 166,890 95. XI? IOI,34O 13,052 1,557 3,517 11,581 3,133 236,985 37,931 15,500 33,360 3,184 5,801 - 3,773 76.196 2 0 7 . 0 9 5 8 0 , 6 7 4 117,487 4 4 9 , 8 8 1 1 2 2 , 3 7 8 81,278 249,34-7 59.116 67,797 83,255 1 0 4 , 6 7 4 85,628 66,075 86,309 762,158 3 2 , 5 5 4 113,8?>4 l , 6 4 l , 6 q » f 50,452 211,864 2,724,097 ch 93,442 235,7^7 z 7 11,731 84,53K 5 ' 011 118,43 9 2,111,610 ?
@FedFRASER