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STATEMENT FOB TEE PRESS St $08 Released f o r p u b l i c a t i o n Sunday morning , J u l y 2 / , I 9 1 9 : n o t e a r l i e r F e d e r a l R e s e r v e Board.* J u l y 2A, ] o i g . CONDITION OF FEDERAL RESERVE 8A3KS* M o d e r a t e i n c r e a s e s in e a r n i n g a s s e t s and in n e t d e p o s i t s a n d f u r t h e r w i t h d r a w a l s of g o l d a r e i n d i c a t e d b y t h e Federa?. R e s e r v e Board 1 s weekly t a n k s t a t e m e n t i s s u e d a s a t c l o s e of "business on J u l y 1919* War p a p e r on h a n d shows a n i n c r e a s e f o r t h e week of 3 ^ - 5 " m i l l i o n s , other discounts—3 millions • A c c e p t a n c e s "bought i n open m a r k e t went up 3 - 2 m i l l i o n s , a n d T r e a s u r y c e r t i f i c a t e s — 2 .1 m i l l i o n s • War p a p e r on h a n d a t t h e Chicago , S t . L o u i s and M i n n e a p o l i s b a n k s i s i n c l u s i v e of 2% «9 m i l l i o n s d i s c o u n t e d f o r o t h e r F . R - b a n k s , w h i l e a c c e p t a n c e h o l d i n g s of t h e C l e v e l a n d and San F r a n c i s c o b a n k s i n c l u d e 4g ,6 m i l l i o n s of bankers* a c c e p t a n c e s t a k e n o v e r f r o m o t h e r F e d e r a l R e s e r v e banks« Government d e p o s i t s were 2 1 , 1 m i l l i o n s l e s s t h a n t h e week b e f o r e * Members 1 r e s e r v e d e p o s i t s a r e shown $ . 6 m i l l i o n s l a r g e r , w h i l e t h e " f l o a t " c a r r i e d b y t h e R e s e r v e b a n k s shows a d e c l i n e of ^ 0 . 1 m i l l i o n s * O t h e r 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 , f e l l o f f 7*6 m i l l i o n s * Net d e p o s i t s , a c c o r d i n g l y , work o u t 27 t h e week b e f o r e . m i l l i o n s more t h a n The b a n k s ' p a i d - i n c a p i t a l , a s t h e r e s u l t of payment f o r F e d e r a l R e s e r v e s t o c k by newly a d m i t t e d members , shews an i n c r e a s e of $ 3 5 9 , 0 0 0 , t h e San F r a n c i s c o 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 u n d e r t h i s h e a d of $ 1 9 ^ , 0 0 0 . The week saw a r e d u c t i o n of 7 *5 m i l l i o n s i n F e d e r a l R e s e r v e n o t e c i r c u l a t i o n a n d of 16*9 m i l l i o n s i n g o l d r e s e r v e s , The b a n k s ' r e s e r v e r a t i o shows a d e c l i n e f o r t h e week f r o m 5^*9 t o ^0*2 p e r c e n t # R e l e a s e d f o r p u b l i c a t i o n Sim day morning J u l y 1919; n o t e a r l i e r , st 509a STATEMENT OF COL'IBINED RESOURCES AND LIABILITIES 01 IHE TWELVE FEDERAL RESERVE BAHKS AT CLOSE OF BUSINESS J u l y 25, 1919. R E S O U R C E S J u l y 1 8 , 1919 J u l y 25, 1919. J u l y 26,1918 Gold c o i n and c e r t i f i c a t e s $ 270,601,000 $ 273,810,000 $ 418,012,000 Gold s e t t l e m e n t f u n d R, Board 591,532,000 591,190,000 593,777,000 Gold w i t h f o r e i g n a g e n c i e s 11 .628 .000 T o t a l g o l d h e l d by banks S62,133,000 865,000,000 1,028,417,000 Gold w i t h F e d e r a l Reserve Agents 1, 10s, 051,000 1,134,173, coo 910,450,000 Gold Redemption Fund 124,967.000 112,927,000 35,363,000 Total gold r e s e r v e s $2,095,151,000 $2,112,100,000 1 , 9 7 4 , 2 0 0 , 0 0 0 Legal tender n o t e s , s i l v e r , e t c . Gf,F72,000 65,381,000 55,129,000 Total reserves 2,161,023 ,000 2,177,481,000 2,029,329,000 1,616,210,000 B i l l s d i s c o u n t e d ( S e c u r e d by G o v ' t , w a r o b l i g a t i o n s 1,579,728,000 673,231,000 (All other 251,392,000 24S,347,OOO 628 ,920,000 17S.SR6,000 B i l l s bought i n open m a r k e t —372,355 ,°o° 205,274.000 T o t a l b i l l s on hand 2,243,158,000 2,200,428,000 1 , 5 0 7 ,425,000 U. 5+ Government bends 27,086 ,000 27 ,084,000 4o ,090,000 2:: 6,000 U- S. V i c t o r y n o t e s 363,000 . 212,om,000 S . c e r t i f i c a t e s of i n d e b t e d n e s s 209,941,000 * 16,922,000 All other earning assets 103,000 Total earning a s s e t s 27482,558,000 2,437,816,000 1 , 5 6 4 ,540,000 Bank p r e m i s e s 11,784,000 11,737,000 690,495,000 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 857,194,000 558,392,000 10,613,000 5% Redemption f u n d a g a i n s t F . R_ bank n o t e s 10,077,000 701,000 All other rosorrces 9,898,000 10,100,000 12,44l,000 TOTAL RECOURSES 5,366 ,371,000 5,504,405,000 4,165,403,000 L I A B I L I T I E S Capital paid-in 83 ,317,000 82,958 ,000 76,441,000 Surplus 81,087,000 81,087,000 1,134,000 Government d e p o s i t s 116,038,000 137,090,000 233 ,o4o,ooo Due to members - R e s e r v e a c c o u n t 1,71S ,396,000 1,712,796,000 1,435,196,000 Deferred a v a i l a b i l i t y items 535,178,000 651,735,000 4oi ,186,000 O t h e r 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 i2s.o6q.ooo 117.UU4.000 111 .840.000 Total gross deposits 2,4^7,056,000 2,626,690,000 2,181,262,000 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 2,504,497,000 2,512,048,000 1,870,835,000 F - R* bank 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 193,349,000 186,911,000 11 ,084 ,000 All Sther l i a b i l i t i e s 16,565,000 14,711,000 24,647 ,000 TOTAL LIABILITIES 5,366,371,000 5,504,405,000 4,1657403,000 E 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 50 Z % 50.9 i 58.1 $ * I n c l u d e s one y e a r R a t i o of g o l d r e s e r v e s to F - R , n o t e s in c i r c u l a t i o n Treasury notes a f t e r s e t t i n g a s i d e 35% a g a i n s t n e t d e p o s i t l i a b i l i t i e s 61.2 % 62 JO $ & 78-1 % R e l e a s e d f o r p u b l i c a t i o n Sunday a o r n i n g J u l y 27, 19IS; n o t e a r l i e r . WEEKLY STATEi/SSNT OF RESOURCES AIjB L I A B I L I T I E S OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS J U L Y 2 5 , 1 9 1 9 St.510B R E S O U R C E S ( I n t h o u s a n d s of d o l l a r s -) Boston liew York P h i l a . C l e v e l - Ricbm. A t l a n t a Chicago S t . L o u i s - Minn.Kans-Cy - D a l l a s San F r a n Total Gold c o i n and c e r t i f i c a t e s 4,480 l68,481 624 33,336 2,239 7,903 23,911 3,106 8,4o4 l68 9,312 8,637 270,601 Gold S e t t l e m e n t Fund - F . R . B o a r d _5„2^212 l 6 0 . 9 3 2 4 8 . 5 2 7 4 6 , 8 7 8 2 5 , 5 5 0 1 6 , 9 9 8 101, 5 9 0 25,153 29,696 _. .15.973 §,840 3-5^3 5SV5-32T o t a l g o l d h e l d by banks 56,692 329,413 4 9 , 1 5 1 80,214 27,789 2 4 , 9 0 1 125,501 2 8 , 2 5 9 3 8 , 1 0 0 3 9 , l 4 l 1 9 , 1 5 2 4 ) , 8 2 0 862,133 Gold w i t h F e d e r a l R e s e r v e Agents 5 9 , 1 6 3 287,952 70,576 119,522 3 0 , 8 6 3 4 4 , 1 9 9 2 6 6 , 0 3 1 6 1 , 0 6 9 3 3 , 6 6 0 3 0 , 7 7 0 1 5 , 7 8 0 88,466 1 , 1 0 8 , 0 5 1 Gold r e d e m p t i o n f u n d l4r 4gl 2 4 f 829 11,578 2,117 6,664 5 , 6 o o 15,29b 3 ,971 6,401 10,202 2,926_ 8% 1?4,9o7 Total gold reserves 130,336 642,194 1 3 1 , 3 0 5 2 0 1 , 8 7 3 6 5 , 3 1 6 74,700 4 2 6 , 8 2 8 9 3 , 2 9 9 7 8 , 1 6 3 80,113 Jl, 8 5 8 1 3 3 , 1 6 6 2 , 0 9 5 , 1 5 1 Legal t e n d e r n o t e s , s i l v e r , e t c . 7.505 47.691 156 898 524 1. }?4 951 4, 218 hi 304 1,892 3-4.6 _&5- r S.72 Total reserves 137,g4i 6 8 9 , 8 8 5 1 3 1 , 4 6 l 2 0 2 , 7 7 1 6 5 , 8 4 o 76,024 4 2 7 , 7 8 1 97,517 78,224 2 o , 4 i 7 3 9 , 7 5 0 133,512 2 , 1 6 1 , 0 2 3 B i l l s discounted: S e c u r e d by Government war o b l i g a t i o n s (a) 134,001 64g, 147 170,366 1 0 3 , 0 6 3 8 2 , 0 5 3 78,916 191,632 49,858 35,168 38,893 37,595 45,518 1,616,210 A l l Other 6,570 68,746 1 9 , 8 8 1 11,463 1 3 , 9 1 6 12,579 24,313 1 0 , 9 5 0 4,095 44,930 20,978 12,971 251,392 B i l l s b o u g h t i n o p e n m a r k e t .(b) - . 2 6 , 9 7 - 1 91-MJ 719—5M33 7,868 6 , 9 9 2 56 016 8,873 ? 4 , 0 5 8 2 38? 96,033 T o t a l b i l l s on hand 167,5^2 809,390 190,966 1 7 0 , 6 6 5 103,237 98,487 2 7 1 , 9 6 1 6 9 , 6 8 ! 6 3 , 3 2 1 8 3 , 8 2 5 5 8 , 9 5 5 15^,528 2 , 2 4 3 , 1 5 8 U. S. Governuent bonds 539 1,257 1,385 1 , 0 8 3 1,234 376 4,477 1,153 ll6 8,867 3,966 2,633 27,086 U. S . V i c t o r y n o t e s IS 5 0 1 6 211 286 U,S.certificates o f i n d e b t e d n e s s 2l.4l6 5 9 , 0 0 2 24,812 18,158 7;4l0 10 4 7 9 2 b , 6 l 2 1 7 r 0 6 8 *6,969 7,14-2 5,900 6,64o 212,028 Total earning assets 189,535 8 6 9 , 6 9 9 217,164 1 9 0 , 1 0 6 112,4-81 109,348 303,050 87,902 70,617 100,034 6 8 , 8 2 1 1 6 3 , 8 0 1 2 , 4 8 2 , 5 5 8 Bank p r e m i s e s 800 3,999 500 875 4l6 %9 2,936 691 401 307 %00 11,784 Uncollected items and other d e d u c t i o n s iron, g r o s s d e p o s i t s 5 7 , 1 7 1 1 7 1 , 8 9 9 oO, 5 0 2 5 5 , 9 8 0 5 1 , 7 8 1 3 0 , 9 4 4 8 1 , 7 4 9 4 8 , 0 4 6 1 2 , 8 8 5 5 9 , 8 8 8 % 7 2 6 3 9 , 9 2 4 690,495 51° R e d e m p t i o n f u n d a g a i n s t F- R. bank n o t e s 1,015 2,038 1,200 897 448 52O 1,682 803 394 ?30 436 450 10,613 All o t h e r r e s o u r c e s 34l 2.351 7 55 936 1,025 3 79 1.455 501 196 44 7 5 81 "929 9.898 TOTAL RESOURCES (a) Includes bills discounted for other F,R-banks, v i z 386,703 1 , 7 3 9 , 8 7 1 4 n , 5 8 2 4 5 1 , 5 6 5 2 3 1 , 9 9 1 2 1 7 , 6 7 4 8 1 8 , 6 5 3 235,460 1 6 2 , 3 1 6 2 4 1 , 9 1 7 1 2 9 , 6 2 3 3 3 9 , 0 1 6 5 , 3 6 6 , 3 7 1 15 E M O R A N D A - ( b ) Includes bankers1 acceptances bought from o t h e r F.R.Banks With t h e i r endorsement — Without their endorsement - _ - _ - _ 10,012 - - _ - - _ 54,900 _ - 5,000 _ - 25,000 _ - - _ - - _ - - 84,900 38,567 48,579 _ R e l e a s e d f o r p u b l i c a t i o n Sunday morning J u l y 27,, 1919; n o t e a r l i e r . WEEKLY STATEMENT OF RESOURCES ML LIABILITIES 0? THE FEDERAL RESERVE BASKS AT CLOSE OF BUSINESS JULY 25, 1919' ( l a t h o u s a n d s of d o l l a r s . ) St.510c L I A B I L I T I E S Boston New Yprk E h i l a . C l e v e l . Capital p a i d - i n 6,27' 21,$77 7,653 3,255 Surplus 5,2# 32,922 5,311 5,560 Government d e p o s i t s 7,1% 28,872 8,902 7,530 Due t o members - R e s e r v e a c c o u n t 107,39^ 694,244 101,330 133,510 Deferred a v a i l a b i l i t y items 52,8=5 128,628 53,9^4 50,378 — Total gross deposits F.R.notes in circulation F.R.Bank n o t e s i n c i r c u l a t i o n net liability All other l i a b i l i t i e s TOTAL LIABILITIES 7,071 50,^2 8,l7o Ri-chm. 4,227 3,800 6,270 5^,682 4-5,049 7.96U A t l a n t a Chicago S t . L o u i s Minn - Kans.Qy. D a l l a s San F r a n . T o t a l 3 , W 11,^ 3, SJO 3,020 3,802 3,277 4,921 83,317 2,805 9,710 2,589 2,320 3,957 2,029 4,578 81,027 10,02^ 1 7 , 7 9 2 ^,733 ^,212 6,606 7,19& b, 55 4S,.3U? 2 4 7 , 9 0 5 : '63,235. ".52,7&3 7 8 , 0 7 2 4 5 , 0 2 3 9 1 , 2 3 2 1 , 7 1 8 , 3 9 ° 22,285 6 5 , 7 9 1 3 4 , 2 1 4 1 0 , 4 4 4 3 7 , 9 ^ 5 14,003 19,598 535,17% 4,563 3,773 12,860 4,842 174,513 902,156 172,366 199,382 110 , 564 84,427 3 1 4 4 J 4 8 107,739 180,48; . 739,1^5 201,693 218,794 105,735 116,835 4 2 3 , 3 9 3 i o 4 , 7 2 9 18,209 1,417 38,53$ 5.615 23,476 1.083 17,147 1.127 6,936 729 9,760. 590 27,833 1,808 15,874 599 2,848 4,623 2,520 '7,799 117.444 7 0 , 2 6 7 127,266 fcS 1W 1 2 5 , 2o4 2 , 4 8 7 , 0 5 b 79,639 9 2 , l 4 8 4 6 , 5 5 7 1 9 5 , 3 2 8 2 , 5 0 4 , 4 9 7 6 , 582 ^88 13,069 1,075 8,278 _J3>8 7,5^9 1,J9o 193,849 lo .5o5 386,703 1 , 7 3 9 , 8 7 1 411, 5 8 2 4 51, 5 6 5 231,991 2 1 7 , 6 7 4 8 1 8 , 6 5 3 235,460 1 6 2 , 3 1 6 2 4 1 , 9 1 7 1 2 9 , 6 2 3 3 3 9 , 0 1 6 5 , 3 6 6 , 3 7 1 U E M0 R AN DA Contingent l i a b i l i t y a s e n d o r s e r on Discounted p a p e r r e d i s c o u n t e d w i t h o t h e r F . R. banks Bankers' acceptances sold to o t h e r F« R. banks - - 34,900 - 50,000 - - • ~ ~ ~ ~ ~ ann FEDERAL RESERVE NOTES OUTSTANDING- AND IN ACTUAL CIRCULATION. lg ^"circulation g-gg 180,481 1 : : ^ W t i 739,165 2 0 1 , 6 9 3 212,79% 105,735 116,835 k23,393 104,729 t 79,639 92,148 4 6 , 5 5 7 195,328 2 , 5 0 4 , 4 9 7 DISTRIBUTION OF BILLS AND U, S . CERTIFICATES OF INDEBTEDNESS BY MATURITIES. Bills amounted ^ ^ 8 i;^t " " M . T " " ^ £ : & " ^ 7 , 6 0 2 R e l e a s e d f o r p u b l i c a t i o n Sunday morning J u l y 27, 1919; riot e a r l i e r . STATEiViENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JULY 25, 1919. ( i n t h o u s a n d s of d o l l a r s -) FEDERAL RESERVE NOTES: R e c e i v e d from C o m p t r o l l e r Returned t o Comptroller Boston New York P h i l a - C l e v e l . Ricbm. A t l a n t a Chicago S t . L o u i s M i n n . Kans.Cy. D a l l a s San , , ., , , , 34l,360. 1 , 6 6 0 , 8 8 0 408,780 370,000 227,120 241,500 655,320 210,44o 134,380 170,920 104, 760 30% 126 , 250 697,631 1 7 1 , 4 l 6 109,91% 9Q,4q3 58,882 169,154 73,937 37,5%4 57,553 35,73% Tc Chargeable t o F . R . Agent 215,110 I n hands of F» R. Agent 26,160 I s s u e d t o F . R. bank l e s s amount r e t u r n e d t o F . R . Agent f o r redemption 188,950 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on hand 963,249 237,364 260,089 136,717 182,618 486,166 136,503 139,600 21,480 29,900 2 6 , 2 8 8 60,284 28,440 15,210 96,866 113,367 69,029 232 l4,o6o 20,175 13,350 K 823,649 215,884 230,189 110,429 122,334 457,726 121,293 82,806 100,017 4 8 , 8 5 4 22] 183,740 13,052 - 12,125 2, 500 1,863 '- 9,831 1,410 2,765 1] 18,800 29,360 3,184 H Gold r e d e m p t i o n f u n d 10,163 14,212 Gold S e t t l e m e n t Fund, F-R.Board- 49,000 90,000 55,889 95,000 29,000 4 o , o o o 257,105 5 7 , 9 3 1 E l i g i b l e paper,minimum r e q u i r e d - 129,787 535,697 145,308 110,667 188,950 823,649 215,884 230,189 110,429 122,334 457,726 121,293 82,806 100,017 4 8 , 8 5 4 22: 167,542 , 809,390 147,127 168,720 100,549 58,889 83,824 ,58,955 141 TOTAL AMOUNT OF ELIGIBLE PAPER DELIVERED TO F.R» AGENT - 14,687 12,397 79,566 1,699 8,926 7 8 , 1 3 5 191,695 95,073 271,855 3,13S 60,224 „ , 65,433 1,808 49,146 69,247 3 3 , 0 7 4 13:
@FedFRASER