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Released for publication Sunday morning March 2, 1$19, not earlier- St *235 STATB'ENT FOR THE PRESS * March 1 , 1319 * Substantial increases in the holdings of war paper, only p artly offset by liquidation of other discounts, and corresponding increases in net de p osits are indicated in the Federal Reserve Board1s weekly bank statement f. issued as at clos.e of business' on February 2g 9 1919 • ^a r paper on hand shows an increase for the week of 73 *2 m illions while other discounted b i l l s decreased 1 1 *9 Bullions*. show a gain of about 7 m illions* Holdings of acceptances Inter-bank rediscounting accounts also for C hicago, some changes in the holdings by they Kansas City and San Francisco banks of both war paper and acceptances* U* S* bonds'on hand fe ll off 1 m illion, w hile U . S- short-term securities show an increase of 8*6 m illio n s, largely ‘ due to temporary investments in U-l/'2$ Treasury c e rtific a te s by the.New York Tank. Total earning assets were 2 ,3 3 9 * 5 m illio n s , or 75*9 bullions larger than the week before* Government deposits show an increase for the week of U *9 m illions, re serve deposits - an increase of 57*1 millions,- and net deposits - an increase of 65*9 m illions^ Gold reserves declined about 2 m illions and total cash reserves about 2 .3 millions- Federal Reserve notes in circulation show an increase for the week of over 6 m illions, larger increase* The banks1 * reserve percentage, largely because of the con siderable increase in deposit l i a b i l i t i e s , per c e n t, the New York Bank reporting an even shows a decline from ^2*2 to 5^*3 St .235a Released, for publication Sunday morning March 2, 1919; not earlier. AT CLOSE OF BUSINESS FEBRUARY 28, 1919 STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAM Mar oh' ^1918 February 20, 1919 February-28, 1919 R E S O U R C E S $U6l,6l5,000 $350 ^ 17,000 $ 345 , 762,000 Gold coin and certificates 357.299.000 1+57,889,000 H63 ,UsU,coo Guld Settlement Fund - F.R.Board 52.500.000 829,COO 5,829,000 Gold with foreign agencies S7i,UiU,ooo SlU ,135' 000 815,075,000 Total gold held by banks 385,3U6,000 1,197,933,000 1,187,760,000 Gold with Federa;. Reserve Agents 2 0. 56q.000 112,923,000 120 .163 .000 Gold Redemption -und 1.777.329.000 2 ,I25,OUl,000 2 , 122,998 ,000 Total gold reserves 6orUUUrooo 66.Uq1.000 65,725,000 Legs! tender notes, silver, etc. 1.337.773.000 2,191,532,000 2 , 188 , 723,000 -7 f h>J Total reserves 2U9,195,000 1 , 596,^ 58,000 1 , 66 ^ 68^,000 Bills discounted (Secured by Government war obligations 253.330.000 221,996,000 2jJ&;3r36 ,000 (All other __29a,2l3.^000 , 920,000 269 276 .qiQ.COO Bills bought in open market 801.733.000 2,0S8,37U,000 2,156,739;000 Total bills on hand 77.705.000 28 , 095,000 27 ,09'4 ,000 U.S.Government long-term securities 157 .U 82.000 1U7,123,000 155,688,000 U.S.Government short-term securities _______ U.000 ________ U.ooo All other earning assets 2,263,596,000 i,oUo,605,000 2,339,525>000 Total earning assets 8.969.000 9 , 713,000 Bank premises 331,067,000 633,806,000 *653 ,^65.000 Uncollected items & other deductions -frciu gross deposits 537,000 6.809.000 6, S13 i^00 5$ Redemption fund against F.R- bank notes 796,000. 8.U80.000 8.U97 ,000 All other resources 5,113,192,00c 3,260,773,000 5,206,736.000 TOTAL RESOURCES L I A 3 I L I T I E S si,Uo6,ooo 81 ^+52,000 73, U01,000 Capital paid-in 22.733.000 22 , 738 ,000 1, 13U, 000 Surplus 150, 781,000 205, 675,000 210,5^7,000 Government deposits 020,000 1,383, 1 , 563,9 12,000 1,620 ,972,000 Due to members - Reserve account 031.000 21s, 1+50,257,000 1*94,653,000 Deferred availability items 122^000 ___ £Uk nu.7qs.000 12U .032 ,000 Other deposits,including foreign gov't, credits 1,320, 95U,coo 2,36U,602,000 2 ,'450 )2£>k ,000 / Total gross deposits 2 ,U66,2U8,000 1,351, 091.000 2 ,1+75 ^ 7 , 0OO F. R. notes in actual circulation 133,^65,000 13!+ , 01 + 2,000 7, 999.000 F. R. bank notes in circulation - net liability UU.733,000 —1+S7993,000 199. 000 All other liabilities 5 ,206 , 736,000 5,113., 192,000 3,260,772,000 TOTAL LIABILITIES oOj Ratio of total reserves to net deposit and F,R. note H'to. 52.2$ 65 51-3$ liabilities combined Ratio of gold reserves to F-R.notes in circulation after 6U.3$ 63 .1$ setting aside 35$ against net deposit liaoilities if V -i 3^; 7 \ ReleaSe4 S y Ps S T H ^ T n0F^RlS0UECE^ M J D L i I b IL IT IES OF EACH OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS ^BRUARY ^ 8 , 1919* (In thousands of dollars.) \ I Total Boston-New York -Phi la. .Clevel. - Bich. -Atlanta-Chicago-St.Louis Minn. .Kpis-Cy. .Dallas-San Fran R E S O U R C E S X- _ --------^ i \ 1 -7 ^ o O U U f lu l O OKQ 345 J 62I 6,013 162 12 ,259 3,232 4,300 S,322 23,024 260,524 2S0 2,265 2, SOS 17,529 Gold coin and certificates 463,4 s4| 7,464 26,535 139,645 ..39 22,59*+ 23,793 51,026 ^3,S70 4l, 112 70,291 16 , 1+39 17,756 97,959 Gold Settlement Fund - F.R.Board 204 -121 — 5^29 -221Sl6 204 40S . 233, _ 2 3 3 _ 525 40S 2,031 Gold with Foreign Agencies \ U 0 , 09 S 13,631 39,115 S15.075 306,^05 41,300 00,345 is , 90S 26,253 121,799 27,127 3 7 , 30 s Total gold helcl by banks 257,256 6s, 566 135,94? 47,374 4o,590 296,529 6s, 316 54,563 !4s, 101 19,765 101,739 l, lS7 , 76o Us, 954 Gold with Federa: Reserve Agents 3 , 6q2 1.330 4.421 120^163 4,333___ 4,153 623 5.964 5.246 29, 3 5 ° 2U,627 19.032 15,567 Gold Redemption Fund 533, 23S 129?44S 224,920 72,246 72,039 443,346 99,752 96,630 / 9 i,S 9i 35,326 145,275 2, 122, 99s U S, 757 Total gold reserves 171 f 133 j 1.930 ... 319 65.125 50,930 ' 303 1.032 25 j 9S3 1,3.76 2^ 205. 5, SSO Legal tender notes, silver, etc. 37,30b 145,594 2 , loo, 723j 96,301 \92,079 '639,*263 129,75 1 225,002 7 2,499 73,077 449,722 101,337 124,637” Total reserves 24,332 70,955 1 , 66; 741,979 176,990 101,209 39,636 62,303 l62,70S 49.2S2 15,724 Bills ) Sec-by Gov't.wax obligations 139. s4i 32,206 22,460 21G 1,776 3-M52 15,361 9,215 45,059 13 , 0 3 1 ' 6,320 10,913 12,752 6)361 DisctdjAH other .,1.75a 49,g4l___ 216.^19 __9,241_ 43,325 1 . 9S7 60,797 7t 13JL 7,603 3? Bills bought in open market ■ 330 , 363 ” 192 , 05 s lb3, 326 ” 10776 S3 "337163 211 , 2*5 75,9152 ^7,s6l 53,013 '53.346 143,236 2,156,739 .155^43 Total bills on hand 27,094 2,46£ 1,154 117 S,s63 3,967 37S 4,510 1,391 1,355 1 , 0S4 1,234 533 U.S,Gov't. long tenn securities 155 , 6ss 3,900 5,329 7,464 16,612 , 06s 9,139 5,516 12,4i 6 53,747 11,751 11,341 5,375 U„S.Gcv't. short-term securities ______ 4 4 All other earning assets S90,5 01 205,224 130,751 114,292 91,009 232,367 55,174 57,H7 97,397 66,213 151,033 2 , 339,525 Total earning assets 165,397 4oo 221 4oo 9,713 541 296 217 2,936 100 3,302 5C0 300 Bank premises Uncollected items and other deductions 653,465 163,406 76,917 52,447 43.3S7 31,917 74,327 42,317 15,196 5 7 ,c is 19,549 24,23 s 52.246 from gross deposits 324 6,313 241 . 356 655 * 190 600 572 775 . 309 5fo Redemption Fund — F.R*bank notes 375 1,330 556 7 5 6 ...4 4 .4 -^497 274 -s§9■4-50-93k ______5H9_ qHt \)Q( i ____ v s * jOb cL {______ja -2^231 -35-5 -KmAll other resources 365 347,001 1 , 700,604 413 , SS 6 46o,46i 230 , 938 . 196,930 761,136 231 , 27 s 169,450 243,023 124,399 322,530 5 , 206,736 TOTAL RESOURCES L I A B I L I T I E S 3 , 200 4,679 51,452 2,94s 3,735 3,177 11,290 3,523 Capital paid-in 9,215 4,1.10 20,925 7,577 6,773 592 1,224 22,735 i 1,211 726 301 1,304 1,776 1,156 775 3,316 3 ,3 2 2 Surplus 1,535 15,259 7,563 14,246 210,547 l4,043 13,953 27,102 5,943 9,237 25,530 Government deposits 26,124 33,543 17.674 671,S1S 92;912 129,957 52.671 44,S39 233,097 55.635 45,792 75s37l 35,715 75,362 1 , 620,972 Due to members - Reserve account 95,750 494, 653/45,534 31,3 15 19,3 15 53 , 236^ 36i 497 .S,3S4 35,707 15,129 17,355 Deferred availability items 42,S44 120’ 541 63,763 66 — 6 ^ 23 — ie479 K w1 102 ---------------M tyy -----------— w c _ -----------v y < 15554 22 Q___ ^6551 321I B , 744 All other deposits 106 .ww * __ ^ 59,933 73,664 313 , 40 p iO 9 , 4 i 4 7 l , 4 o 4 126,469 61,773 Il6,4l6 2 , 4503 a#J. 139,646 130,200 202,914 164,324 Total gross deposits ss) 159 101)609 51,167 191,340 2 , 472)307 ^ , 1 ^ -r.w,5C6 105,835 77)619 210)763 233)069 123,595 110,755 4io F.R- notes in actual circulation 159,552 5,036 12, 6S5 6,212 6,334 134,042 34 , 62s 11,311 10,422 5,204 7,165 17,547.u 6,925 F.R.bank notes - net liability 10,573 l ^ z — 2 ,3^4— 3^§§— 1 sqo i ,4i4___ 5 , / h M _____ M W d% (cX> _ t ) T uop ______ ± , oyy ___ --------------------------pr-TO * t ^ * 7 £ 19.464 2. 726 3.065 All other liabilities i J l 347,001 1,700, 6 o 4 ^+13,336 46 o , 46 l 230,93s 196,930 761,136 231,27s 169,450 243,023 124,399 322,530/5,206,736 TOTAL LIABILITIES Contingent liability as endorser 0X1 oOi bills discounted with or sold to IS, 176 73,717 10-,GU 19>700 25, S4l other Federal Reserve banks I yh --m ‘ - - Released for publication Sunday morning / March 2, 1919; not earlier, STATEMENT OF FEDERAL EE SERVE AGENTSJ ACCOUNTS AT CLOSE OF BUSINESS February 28, 1919 . (in thousands of dollars-) Boston New York Phi la. Clevel. Richm. Atlanta Chicago St*Louis Minn. Kans^Cy. FEDERAL RESERVE NOTES: Received from Comptroller 262,000 -1,30,680 335,420 333 ,SUo 204,820 204,5b0 563,160 171,420 124, 4so 152,700 Returned to Comptroller -- !±1^ 15_ ^ 01426__ 52, 13.0 4s, 393 33,493 73.156 33,639 23.311 35.223 Chargeable to F«R* Agent 183,5*2 929,765 24*4,994 281,710 156,427 171 ,o6T4s ^ 004 132,731 101,169 123,477 In hands of F*R<. Agent 2^,320 157,400 22,100 32,770 23,565 55,726 Ug,260 11,365 11 , 60C 14,520 Issued to F.Rc bank less amount returned to F,R« Agent for redemption 163,221 772,365 222,894 248, o4o 132,862 115 , 343. 436,724 121,366 39,569 103,957 St. 235c Dallas San F ran . To tal 101,960 251.720 4 , 956,760 24, 99$ 27*057 940.24? 76,964 224,663 3 , 116,513 24,260 11 ,CG0 437,907 52,704 213,663 2, 673,606 COLLATERAL SECURITY FOB OtfTSTiKDifTG- NOTES: Gold coin and certificates on hand Gold rbde^ption fund 9,95*+ Gold Settlement Fund - F*R*Board 39,000 Eligible paper, -minimum required 114.267 Total 163,221 AMOUNT OF ELIGIBLE PAPER Ii2LIV£RED TO F*R* AGENT 2,503 - 13,052 12T532 229,147 1,817 4,925 2,336 3,011 3,7^1 2,999 13,361 37,438 46,000 36 , 270291,664 65, 43.0 33,500 44,360 4,134 37,873 371,175 -3J5,.j;P9 134.323.112.993 35.488 74.7^1 l4o. 135 53.050 35.006 60,856 32.939 111.924 l,4qo,846 772,365 222, 394" 243,940 132,862 11^341 436 j 2 4 l21,366 89^569 103^957 52,704 213,663 2, 673,606 173,740 27,270 13,516 15,677 13,677 70,000 52.SS9 95,000 - 1,374 & 155,441 330,363 156,559 167,619 102, 96s 30,334 211,245 64,259 83,013 53,346 142,-426 2 , 099-959 39,569 108,957 1.410__ 7 ,348 52,704 213,663 2, 673,606 1,537 22,323 206,299 51^167 IQ1 ^ 0 46,924 MEMORANDA FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R- notes outstanding lbb i r i 11 222>s9i+ 248,940 132,362 115,341 436,724 121,366 F* R* notes held by bank 4,267 4,556 25. 913 12,528 -3J>o2-- 3 ± .J ^ 12,126 15,371 F.R, notes in actual circulation 159,552 677,619 210,76 S 23j>,069 128,595 110,785 Ul0,S06 108*83S 88^159 101^309 DISTRIBUTION OF BILLS, U-S*GOVERNMENT SHORT-TERM SECURITIES AND Y/ASRANTS BY MATURITIES* 7/ithin 15 days Bills discounted Bills bought in open market U*S,Government short-tern securities Municipal warrants 0 1 1 ,3 5 5 82,025 18,714 l6 to 30 days 57,333 76,479 3 3- to 60 days 202,040 93,343 6 l to 90 days 36,221 25,067 35° Ovsr 90 days 22J21 136 , 62.4 To tal 1,379,320 276,919 155 ,68 g 4 Released for publication Monday morning March3> 1919! na^ earlier* st • 23^ CONDITION OF MMBFE BANKS* March 1, 39 -S 4 Reductions of over 2*5 millions in the aggregate of Liberty bonds and of 13 *3 millions in the amo'unts of Treasury certificates on hand9 together with liquidation of 11*5 millions of war paper are indicated in the Federal Reserve Board* s weekly statement of condition on February 21 of 77^ member banks in about 100 leading cities# Reductions in certificate and war paper holdings are confined practi cally to member banks in New York City which report decreased of 31*5 A l l iens in certificates and of lU *3 millions in war paper on hand* Combined holdings of U# S« war securities and paper supported by such securities were 3? 5^6*2 millions, a decrease for the week of 50*5 millions, of which ^5*3 millions constituted the decrease at the member banks in New York City# Other loans and investments show a decline of 110.2 millions for all reporting banks and an even larger decline for banks in the 12 Federal Re serve cities* Of the total loans and investments of all reporting banks the share of war paper remains ■unchanged at 26 per cent, while for the New York banks this share shows a decline' from 30*6 to 30*5 P 31* cent* Government deposits fell off 91 <9 millioiis* while other demand deposits show an increase of 3^*9 millions, and time deposits - an increase of 3*9 millions % Reserve balances with the Federal Reserve banks declined 30*1 millions, and cash in vault - 24*6 millions- leLra * vjbl.1 cation Monday morning March 3, i9 19: not earlier. fs£i. ,j,> 7T SHOTTING PRINCIPAL RESOURCE AND LIABILITY ITS/IS OF MELIBER BANKS IH LEADING- CITIES, INCLUDING- MEMBER BJKS LOCATED b t .^ b a " ITTEPAL PRESERVE BANK CITIES AND IN FEDERAL RESERVE BRANCH CITIES, AS AT CLOSE OF BUSINESS FEBRUARY 21', lg lg. 1. Data. for all resorting banks in each district.______ (_In thousands, of dollar sJ --- --------- ---- r_-- --- --- -_.............——;--- ■ ■■ i_ Boston New York Phila. Clovel. Riclm. Atlanta Cnicago St.Louis I/iinn. iCans.Cy* Dallas can Elan. Total T“rbai’rs 4-5 106 56 90 S2 “+7 101 36 35 76 44 , 53 771 1“ ,“02 “ 6 ,col 11,“ 97 H0 .9 S8 2“ .9S9 W .265 19 ,s 6 i 1 6 ,9 0 3 - 6 ,“ 66 13,605 17 -979 J * « 5 262,760 11ClUdlrg U R,certificates of indebtedness T;*-l u sVsecurities L^n s soured v.y U.S. bonds, etc. Jill other loans & investments balances with F.R.lank S T S v S T * " ilh F 'S 'b“ “k S f , “a S L o s i t s 19,012 a *;S T S “o> 5 6 75 , 53 0 5 2,570 51*,552 67 , u7^ 26,3“ 5 111 778 25,55“ 20, “ 56 3 5,935 692,571 105,3&5 7o9,“ ;>3 109,553 151,35° 55,l“0 55 , “ 27 219,3*w 55,“95 3 5 , 0}0 39,“ l9 20,597 92,777 1,729,17S 13 s 679 1 . 12“ 333 161 ,ooS 267 ,870 132,699 IQ*.. 2““ 306,679 9s,7“ s 53,29“ TS,77« 59 , 06 2 16 3,317 2 . 690,509 ’ b l O ^ K lW-,5Rl 95,893 3 9 ,’ SO ir,,6 S9 86, 2 0 2 10,2^7 ,11,232 JO.JOO 20,321 1,158,167 7“3,f-9 3,S?G>35 6lO,9oi 970,559 36} ,00S 30J,fcS 1>?§5>9$} 37|,pfe 221,S^d *3g,5ol 1 ° " , ^ 3 5 W ,o M 9 , 9^2,70 60:292 ' 6 i 2, 7 * 65,51? 9 1 ,^ 9 5 * , W 2S.yff J50, / 2 i “ l ,“?“ 21.5x3 « ,0 9 , 18,0+9 50, xoo 1 . 22J. 3 U a w i t «5 % 'M 3 K 00 . & 5I 0 £ 5 7 1 MlosS V & ^ 36 “ < 1 0 9 is. 5* 6s?/, W i “ ,5S-,652 651,956 319,399 * 0 , 3 1 1,187,“ 6? 30“ ,370 209, “ * 356,757 153,687 “ 20,517 9,9“3,569 ip7 oHG fnS PO.oUE 254.^12 70,502 102. 2S3 Ul2,^33 32,755 52 . 2/7 06 ?f19 2 ^ 9 0 1 135,760 1,022,370 L « r S ; r i : 9o_sits__________________v*:s>i9 56> i5 13 . 22° ! ? . , & e 22, 599 7,?«>— =— §52^ 2 Drt^ ?o'r ba^ks in Federal Reserve^, cities, Federal Pieserve branch cities, and other reporting oaiiks. ^ ^ New York Chicago All F.P."bank cities F.H.branch cities Tctal^ Feb.?:■)*•___Feb.14- Feb.21-- Feb.lU Feb.21--Feb . lH Feb.2*---Feb.lU Feb.cl----'-ieo.W Feb.21-— neb.lM152 152 3.5S 771 771 /3.5S No. reporting banks 65 ^ ^55 <?-55 U^S.bonds to secure cir1Q2, 522 262,,7 60 105,403 263 ,111 dilation 35,933 35»9S3 1, 1}9 1, H 9 99.6SS, 99,860 , 54,669 , 54,729 Other U.S.bonds including , , , > *•, 201,473 127,74-9 125,643 692,571 723,713 192,392 Liberty bonds 246,216 246,2o2 25,3^5 26,55S .330 »53394, ^-3^ U. S.. certificates of in„ rr. n_, . .. “ s: . ^ ; J ! ; ; lca 0i in‘ 733,691 765,179 127,511 1 1 9 ,3 7 1 1 , 122,0911 266, q4i 262,627 1,729,17S ........................... “ 210,931 274,146 1,742,993 269,325 451,263 572,622 2,690,509 454,452 lo tirrsllecu ru aes l,o iS ,“=S l,o“7 ,“““ 15“ ,015 l“7 ,5 “S 1,663,315 1,705,332 2,729,S17 567,736 562,069 522,392 bonds7 etc. All other loans and invu^tments 3 ,%95,^5 3 , 577,771 Reserve- balances with P.R* 57s, 6U1 596,269 ba<iV 307,222 Cash in vault 103, 59^ Net deniand deposits U, 125, 17% !4, i 1+5,539 200,472 Tiine de^os^ts 200, 09 5 Government deposits 2^7,631 307,356 Ratio of U*S*.war securities and war *paner to total loans and investments, per cent 30.6 30-5 XSS.W 62,550 62, 120 927, i l l 941,295 103,697 103,716 127,659 125,020 1,152,46? 1, r/c.O p S3>4, 034 2^7,726 6 , 531, 712 6,64-5/123 1 , 492,267 3,509,290 i,93S, 125 1,912,225 9,962,704 10,072,93S 154,643 170,136 171,560 1 , 225,311 1,255.43S 142,231 110,309 109, 207 906, 944 929,235 361,132 5 . 4,270 59',217 3 3 6,^5 4 '202.920 54,173 92,941 192; O il 36, 212 39,227 1,267,020 1,620,596 1 , 620,220 9 , 911 , 60? 9 , 943,569 205,959 799, Uic 7 , 002,464 6,963, 167 1 , 260,509 1 , 624j 454 471 , 220 4 9 9 ,S 5 o 494,632 1,622,370 473 ; 126 655,326 65 s ,596 157,372 157,450 552,634 644,536 70,246 70,704 70,659 95,260 l+U,62S 39,054 4 i i ,271 472,430 20.5 19.7 27-3 27-4 24.5 24.3 22-3 22-5 26.0 26.0 C 0 N F I D1 N T I A L Wot for publication St.24-0 PERCENTAGES OF GOLD AND LA.WFUL MONEY RESERVES AGAINST NET DEPOSITS, PERCENTAGES OF GOLD RESERVES AGAINST FEDERAL RESERVE NOTES IN ACTUAL CIRCULATION AND OF TOTAL RESERVES AGAINST COMBINED FEDERAL RESERVE NOTE AND NET DEPOSIT LIABILITIES OF ALL FEDERAL RESERVE BjmS. Ratio of gold and lawful money reserve to net deposits Feb ,20-—-Feb *28 Ratio of gold reserves to F* R- notes in actual circulation Feb *20—— Feb. 28 Ratio of total reserves to net deposit and F-R. note li abili ti e s combi ne d Feb. 20-- Feb. 28 February 47 .s 53 *4 40.9 4o.4 U3.7 45 .s 49.5 53.4 New York. 48.0 46.0 42.4 4i.6 45.3 44.0 56.9 54.2 Philadelphia 42.3 4o.S 4q .7 4i.6 41.2 Ul-3 44,2 44.4 Cleveland 52.0 59.4 57 .s 5 G .6 57 -9 58-9 71*5 74.4 Richmond 51.0 4 i.i 4.1.2 4 i .5 43-7 41.4 46.6 43 *7 Atlanta 69 . 8 65.3 40.9 4 i .4 4r.6 4 7 . 9. 53-5 52-8 Chicago 54.2 51.5 78 . s 79*5 69 .s 69.2 89*9 89 .I St* Louis 49 „g 44.0 67.7 66 . 60,9 58.1 76.8 72.3 Minneapolis 5S.7 66.7 67-5 67 -3 64.2 67.1 81-7 87-5 Kansas City 56-7 5S .0 52-9 51.0 54.4 53.8 66.9 66-7 Dallas 4S.9 37.1 4i.6 42.3 44.7 39-9 52*0 44.0 San Francisco 52.6 42.s 57-8 55*5 56-1 51.4 66.5 59*2 . 50-9 49.0 53-2 52.9 52.2 51.3 64.3 63.1 To tal DIVISION OF REPORTS AND STATISTICS FEDERAL RESERVE BOARD ' March 4 , 1919* I 9 I9 Ratio of gold reserves to F.R. notes in actual circulation after setting .aside 35$ against net deposit liabilities Feb. 20-- Feb.2S Boston s 28, I) E i’ T 1 A. L c o i; s' liot for puolication RATIO OF "FLOAT" CF EACH FEDEEAL EE SERVE BANK TO II^MEDIATELY AVAILABLE DEPOSITS. (in thousands cf dollars.) St239 Corroc.tau co.:^ February 28, 1915 " ”'V10~+<| after adding net debit -.''Float" after deducting National and F. R. to ; »et r V n notes .XV /i~ U k WWW ... .. .......... . Sa t’ ur dayY s s 3 1 t leiuen t immediately: settlement - *ers’ irCT" — ------■ : Ratio to inmediately availRatio to immediate1y : available able deposits _____ .Amount deposits : Amount : availab le deposits— z_ "FLOATS : Deferred Unc clie c te d:avallab ili ty items ; items Federal Re serve Sank 42,844 9 ,U02 7-7 9,651 7 -9 9,-403 7*7 52 ; 2U6 120,541 38,662 4.7 47,061 5*7 32,383 4.0 159,203 68,763 8,154 7*3 7,062 6*3 6.3 76.917 7,062 Philadelphia . 6,913 4i, 576 2.9 3,809 Clove land 45,534 4.4 2.4 5 2 ,^ 7 12, 072. 20-6 11 ,683 19-9 11,653 Ri ohricnd 31,315 19.9 43,327 12,599 23.2 10,605 19*5 9,626 Atlanta 19,318 17.7 31.917 Onicago 21,091 8.1 13,644 5.2 5-0 53 , 236 13,082 74327 6,320 8-7 7,58b 10.4 6,219 St. Louis 36,497 8.5 U?.,E17 8,384 6,812 10,8 5,954 9.4 5,871 9*3 21,311 17,650 19 .4 9,186 Kansas City 35,707 23.5 10*1 57 . 01 S 9-5 9,371 20.1 5,635 Dallas 15,129 4,420 12*1 19?549 y* 4 ,198 Son Francisco 17.38S 6, gj; 4.2 2.4,23 8 494,653 118 ,127 6*0 649,262 Bo s ten Few York Mlnaca^o -is Total D IV IS IO N OF REPORTS AJTD STATISTICS IEDEEAL RESERVE BOARD March 6 , 1919 154,609 Jj 7-9 [66 . 154,609 7*9 COMPOSITION OF UNCOLLECTED ITEMS AND DEFERRED AVAILABILITY ITEMS, y T I A L Not* for publication. St •239a February (in thousands of dollars.) Bank UNCOLLECTED ITEMS * * Checks :National Bank: * 0 and : notes and : other :bank notes of: Transfers All other : : Clearing: cash. : 0 ther : bought uncollected: ■Total : liruse Exchange s: items : F. R» Banks : itemd : 1919 DEFERRED AVAILABILITY ITEMS Gold Settlement Suspense Other transit. : items Total - 25,293 42,844 - 59,929 120,541 : Transfers : Government : sold : transit : items 4,713 19 24S - 47,266 52,246 17,551 17,905 6,664 14,678 - 119,956 159,203 : 60,612 - Philadelphia 6,110 15.S15 - - 54,992 76,917 19,374 - 13J13 35,676 68,763 Cleveland 4,200 23 407 360 47,452 52,447 13,944 - 2,434 29,156 ^5,534 Richmond 4,121 217 30 - 39,019 ^3,337 8,809 H rt 22 , 506 31,315 Atlanta 2,55^ 84 979 - 23,300 31,917 3,076 773: 15,469 19,318 Chicago 6,034 562 - 67,731 74,327 20,449 - ■ 22,737 53,236 St. Louis 1,727 651 1,025 39,347 42,317 16 ,.13 6 309 1,135 13,917 36,497 Minneapolis 1 , 142 61 22 13,971 15,196 2,509 - 93 5,752 S,3S4 Kansas City 770 932 232 3,232 46 ,852 57,018 3,310 - 27,397 35,707 Dallas 246 402 981 2,770 15,150 19, 545, 7,672 6 , 332 15,129 1,554 28 238 5,232 17,036 24,238 51,076 24,256 19,H 7 17,691 537,122 549,262 So ston New York San Francisco Total 67 - DIVISION OF REPORTS AND STATISTICS FEDERAL RESERVE BOARD March 4 , 1919 . 6 ,5 6 5 .... 185,007 - 15 560 2 ........27 326 18,735 . 10.791 ___1U-35... 290,585 494,653 X-1412 F E D E R A L R E S E R V E BOARD GOLD SETTLEMENT FUND Sun.ir.ary of transactions for week ending March 6 ,1919. (In thousands of dollars) Balance Aggregate Aggregate Federal last Gold Gold withdrawals deposits and TRANS FE RS statement Reserve with deposits and transfers transfers Rank of Feb.27,1919 drawals to Agent’ s froit Agent’ s fund fund Debit Credit Eoston 47,353 1,302 2,000 1,302 10,000 New York 44,983 70,500 Philadelphia 45,969 2,204 2,204 Cleveland 60,763 3*899 3,899 25,003 Richmond 18,619 100 955 100 955 12,000 18,657 Atlanta 3,474 2,000 3,474 Chi cago 101,078 13.086 3,680 13.086 20.500 St. Louis 24,485 73 1,600 73 4'600 9,500 Minneapolis 23,049 50 598 50 1,098 10,000 KansasCity 39,352 331 331 12.500 Dalias 9,179 200 200 10,000 SanFrancisco Total 22" 455,607 225 33,012 7,905 FEDERAL RESERVE AGE]NTS* FUND Balance Gold Withdrawals Federal last with Gold for Reserve statement drawals deposits transfers Agent at Feb.27.1919 to bank Boston 40,000 3,000 Ne/V York 70,000 Philadelphi 57,889 5,000 Cleveland 9 5, 000 Richmond 46,000 4,000 Atlanta 36,2 70 1,000 Chicago 292,664 4,000 St. Louis 65,431 1,500 3,000 Minneapolis 39,000 500 KansasCity 44,360 4,184 Dallas 500 SanFran 92,879 13,000 Total * 883,677 19,000 16,500 49,512 Deposits th rough transfers frorr bank 2,000 — 92,500: 92,500 Total : Total with:deposits drawals 3,000 : 2,000 — - 5,000 ? — • 2,000 3*680 — - T 4,000 : 1,000 4,000 4,500 : 500 : — 2,000 3,680 7,680 500 * 13,000 : 35,500 7,680 Confidential Settlements from Fen.28 to March 6, 1919, both inclusive. Net Debits 56,492 3,228 3 , 508 587 Total Debits 83,341 326,035 116,132 72,941 55,446 29,455 121,813 82,051 15,743 53,82426,055 Total Cred its 90,265 269,543 112,904 99,395 51,938 31,297 148,804 81,464 28,314 55,423 17,892 Balance in fund at closs of Net business Credits Iv'arch 6,1919, 6,924 43,579 58,991 44,945 26,458 66,120 27,966 1*842 21,973 26,991 116,9 75 18,925 12,571 26,668 1,599 28,782 .11,214 8,163 t .w i : iu, our : . ai,uvt> 76,385:1,013,443 1,013,443 : 76,385 ; 49 7,214 Balance at closs of business Mar.6.1919 39,000 70,000 52,889 95,000 42,000 37,270 292,344 60,931 38,500 44,360 3,684 79,879 855,857 Summary of changes in ownership of gold by banks through trans fers and settlements. Decrease 3,076 In VI VUirQU 14,008 3,228 _ w 1,458 8,492 1,842 6,491 10,087 2,571 10,901 1,837 9,407 36,699 36,699 Tffi&Kr.X REPORT SHOY-'TNG GOLD RECEIPTS AM) DISBURSEMENTS OF EACH FEDERAL RESERVE BANK DURING YJEEK ENDING COMB'IiffiNllAL* (Figures do not insluds gold received from or paid tc another Federal Reserve Bank.) Fo t f or jpn.h n cati on * • Boston Novv XGi/k phi.lad^lT)lua Cleveland Pi— LG'PAix'j*iCju JManta, Chicago Miniaeapol;* « Kansas On ty Da A.t.ci'c San Franoisoo ToUJ., f oi vSyctem 1)0 0 •>•*1 Yqv Y. Jin lauelphia (Ue ve’iancl R',cl::,o.ad JriX•*•cxj.i Chios,"*? ci , y,V1; ^ Minneapolis Kan-an r,Sty Da a. a5 San iTrailed soo To =:al for System Excess receipts > ~ h!xo0 *-»3 pa^ai6/.* Digitized for_FRASER A E C H 1, I 9 1 9 . St.279 (1 a thousands of dollar 8 j i-e*% 000 emitted*) REGS Heceived in exchange for F*R» notes E;ram Fxoji U,B, r * fevemnent : idembers IQs 1?. 88 1,703 4~ \IZ c-0 & U66 is. il s 2vlbH “ T*l-0 M : Fran non-* : ; members * Total 199 OK • 10 -29 feo ■ 'Si . • 11 Ul 148 ~ 1-703 36 2 t V T S : Credits to deposit accounts : lUS.Gov H . : Member and non- : : G-en?l-aoct, ; member banks : 2,502 ) *** cI5 3. 856 182 2 , 61 s 71 3,056 U2 ■u 16 1 Uss 5,167 67 10 71 S?3 Z1B 12 66 - 1 9 _____ 12? _ _ _ _ 2 f736__ too - 157 9?‘5 J^ - 5 2 _ 3H 17 S 11,392 Total 2,502 615 U,03S 771 3,056 2 660 All other N. S. 312 S? 7 5 1 167 1 , 1U7 68 S^l.l 3 s-v i-9'J. 1 ,151 217^ D I S B U R SEME N T S : In : Debits to deposit accounts : ej.chan.ge :------ -w-— —-------- --- ----: for : TJ\. So : Member and non- : :F,-R,-notes -Goverrrnent : member "banks ; To bal 803 1 , 0 '*8 l.OSS " 2U & 900 — 7-1-3 — 2,015 Hsv — 153 94 153 610 • — — 11s HU 15 59 2 65 65 IS? J .1 9 2 1,389 10,800 9,255 20,055 3>05H - 23 26 _____________ l l^o jj^ All other N, S. ~ 1, 02S ^71 I17 * 157 81 — 6 335 2,12.5 522 Total receipts 2,701 952 M 79 1,006 3,056 • ^,370 5 , 203 . 1. 2 U 1,352 i!-f;5 2X7 1 , uSx 25 «7 &3 Total disbursements SO1} 2 sn 6 I;95 <400 7 ss 2,063 6 :0* 328 610 118 65 U-02 9.3 0*4 16 >79 - Released for publication. Sunday rorBing St - 2k% March 9» 1919* not earlier. STATEMENT FOE THE PRESS- March 8 . 1919 . Aggregate gains of 16.7 millions in cash reserves, mainly gold, as against increases of 5"^ millions in net deposits and of l6.2 Millions in Federal Re serve note circulation are indicated in the Federal Reserve Board's weekly bank statement issued as at close of business oil March 7> 1919 War paper on hand shows an increase for the week of 33*5 millions, holdings of other discounted paper fell off 25-6 millions, and those of acceptances 3 millions* As the result of rediscounting with other Federal Reserve banks four Reserve banks report aggregate contingent liabilities of 69*2 millions, as against 73 *7 millions the week before* U. S. short-term securities, chiefly 1-year 'Treasury certificates to secure Federal Reserve banknote circulation, went up U.l millions. Total earning assets show an increase for the week of 8.6 millions. Government deposits show a decline of 15 millions, members* reserve de posits increased 5-1 millions, while net deposits because of the reduced "float” show an increase of millions. Shipments of Federal Reserve notes for the use of American troops in France, also to the West Indies, account for some of the increase in circulation abo ve noted, especially the increase reported by the New York Bank. Following the enactment of amendmsit to Section J of the Act, the Federal Reserve banks transferred to Surplus account 26.7 millions which had been re served at the close of the year to pay the franchise tax to the Government, in creasing thereby the Stxplus fund to over 60 per cent of the paid-in capital of the Reserve banks. 1 Released for publication Sunday morning March $> 1919j no earlier S t.249* STATQViENT OF COMBINED RESOURCES AND LIABILITIES OF THE UvELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 7 , 1919 . RE S O U R C E S March 7, 19!9 February 28,1919 ’ March 8,1918 $ 3 ^ 1, 070,000 $3 ^5 ,762,000 $464,144,000 Gold coin and certificates 513 , ?27 ,000 463 , 4 s4 ,ooo 3 5*+, 585 , 000 , Gold Settlement Fund - F-R.Board 5 ,829, 000 5,829 ,000 52,500,000 Gold with Forsiga a^enc.ios 8^8 , i 2S,obo 815 , 075,000 871 , 229,000 Total gold held by banks i ,i 63 , 8Ho,ooo 1 , 187 , 760,000 896, 702,000 Geld with Federal Reserve Agents 117 . 513.000 120, 163,000 20, 267,000 Go jG-R3 cteijipuiou Fund 2 , 139 , 479, 000 2 , 122 , 993,000 1 , 788 , 198,000 ! Total gold reserves 65 , 93^,000 65 , 725,000 59 , 685,000 ! Legal ter:.dsr notes, silver, etc. 2 , 205 ,U 62,000 2 , 188 , 723 , 000 1 ^ 7 , 883,000 Tocal reserves 1 , 701 , 437,000 * 1 , 667 , 965,000 264, 501,000 j Bills discounted:; Secnred ^ Government war obligations 1 ( All other 186.240.000 * 211 , 855,000 255, 839,000 273 >93, ooo 276.919,000 317.952,000 I Ba lls bought in open market 2 , 161 , 220,000 2 , 156 , 739,000 838 , 292,000 1 Total bills on hand 27 , 057,000 27 . 09U.000 72 , 15^,000 1 U.S.Government long-term securities 159, 835,000 155 , 688,000 182,822,000 U--S•»Government short-term securities 4., 000 4 .OCO 4.064,000 All other earning assets 2 ,3 ^ 8 , 116,000 2 ,339 , 525,000 1 , 097, 332,000 Total earning assets 9.720.000 9,713,000 Bank premises Uncollected itarns and other deductions from gross deposits 599.197.000 653 ,^ 65,000 3U3,396,000 7 .429.000 6 , 813,000 537,000 5/o Rede:Tfption Fund against F.R. bank notes 8.210.000 8 rUq7-000 76lT000 All other re courts3 5 . 178 . 134.000 5 , 206, 736,000 3 , 289, 909,000 TOTAjj i-fcdCUr.C^S L I A B I L I T I E S 81 , 1*90,000 81 ,^ 52,000 73 , 62^,000 Capital paid-in 49. 466.000 22, 738,000 1 , 134,000 * SU'^plTiS 195. 559.000 210, 547,000 56 , 208,000 Government deposits 1 , 626, 076,000 1 , 620, 972,000 i,U 65, 5o4 ,ooo “ Due to membertj •- Reserve account 456 . 289.000 494 , 653,000 216, 986,000 Deferred availability items 4 Other deposits including foreign government credits 123.363.000 124.012.000 11 77.137.000 2.401.287.000 2,450,204,000 1 , 815 , 835,000 Total gross deposits 2. 488. 537.000 > 2 , 472 , 307,000 1 , 383 , 990,000 F.R* notes in actual circulation 136. 591.000 134,042,000 8, 000,000 F. R-, bank notes in circulation - net liability 20.763.000 . 45,993,000 7,326,000 All other liabilities 5 . 178 . 134.000 n ' — 5 , 206, 736,000 3 , 229, 909,000 TOTAL LIABILITIES i Ratio* of total reserves to net deposit and F.R. note 51-4$ 51.356 64.7$ i liabilities combined “ "Ratio of gold reserves to F.R. notks in circulation after 63 -3 $ 63.155 setting aside 35f° against net deposit liabilities * Amended figures. 1 a St.24<3b Released for publication Sunday morning March 9, 1919* W S L T S?A1!EME¥T OF RESOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE EAHKS AT CLOSE OF BUSINESS MARCH 7, 1919' (in thousands of dollars.) R E S O U R C E S Boston New York phi la. Clevel. Riehn. Atlanta Chicago St. Louis Minn- Kans-CyDallas San® ^ Gold coin and certificates 3, 104 260,434 2X4 l4,44o 2., ?59 8,293 22 555 4,325 8,268 92 6,018 11,0b? . .3*1,070 5 , 7 Gold Settlement land - F-R.Board 43,537 53,226 46,862 66,152 29,341 21,435 121,461 22,919 26,372 29,654 14 ,32.5 35,9 3 Gold with fcreisn agencies _ _ . 4 0 S _____ 2,011 _____ 40S_______________ 204_____l7jj 816______ 23? gg .g * ^ ■ .? j * ■ j A jg Total gold held by banks 47,049 315,671 47,5+84 31,117 3'1(30H ?o,903 144,S32 27,477 34,873 £U,Q37 20,5 7 7,33^ Gold with Federal Reserve Agents 48,648 256,131 65,073 1^6,625 45,07 9 4o,b46 295,094 64,436 54,035 46,759 19,<b2 91,2 2 *» ■>» Gvld R a t i o n For.d 17.064___ g^627 22.104 1 . 0X9 . 7 . 5 7 2 ...3, l64 5 ,* $ 4,9ff 2,0^8 Tooal gold reserves 112,761 536,479 134,661213,791 84,455 75,426 464,602 95,017 94,073 81,719 Ui ’ qUs 9 , 26l 65I 983 Legal tender note s, silver, etc. 6 .3 23____ 5 JJPI5 ____ 2 U __lJ ? p 3 ___ 236_____ lUn TOO 3 posfc? Total reserves 119,039 647,494 13U 872 220,054 S ^ o i 76 ,388 465 J 15 97,322 $b,2b6 81,867 ^ ,5 9 5 i ^ . l ^ 2,2 5, Bills ) Sec.by Gov’ t.war obligations 143 , 30 1 775 , 574 173,463 96, 96.3 73,761 64,722 155,54+ 54,968 16 235 37,445 23,053 75,397 , 7 , 7 Disctd)All other ....6,206 ..29,157 9,331. 4.934 01,671 11,905 15,219 8f343 ^ 1^86 36,018 30,738 21,232 lSb^o Bil.ve t o ^ r i u .opea market U & 3 2 S ____ 40*028___ I M S .. 57,,648___ 6,568 J -.5 0 4 ^ - ^ g L - J ^ ^ j g 'g g 2 Total bills on hand 160,400 844,319 189,452 159,551 97,000 84,13 1 20 3 ,3 % 81,254 5V J82 37,599 ^ , 7 5 4 146,429 2 22 U . S-Government long term securities 533 1,339 1,385 1,033 1,234 37 8 4,476 1,154 117 8,868 3,967 2,4bS 27, 5/ 533 1,389 u ,s . Government short-tona " 12,4i6 59,707 12,281 12,34 2 5,37 5 7*464 16,612 8 ,o 6 S 9,709 6,036 4^400 5^ 25 59,335 12 ,4 i.6 59,707 A‘ 'iotireax-ningnL i e t s to Bank premises Uncollected items and other deauctions from gross deposits % Redemption Fond - F.R.bank notes All other re scarce s 138 TOTAL RESOURCES CapitalVaid-inL Surplus Government deposits Due to msm'bers ~ Reserve account Deferred availability items A H other deposits271 3.12,562 Total gross deposits F.R.notes in actual circulation F.R.bank notes - net liability All other liabilities TOTAL LIABILITIES ' 173,354 173 , 3 ?+ 800 91.977 224, 4 3 7 . 90,476 61,308 102,503 64,121 154,322 2 , 348,116 217 2,944 5^0 400 221 400 9,720 r r, c _ KQQ 1Q7 l 4 5 ,g n 60,109 47,706 145,811 60,109 47,734 40,862 26,302 74,657 42,155 ^>^73 5 >59 ’-icC 7*430 47,706 1,269 1,312 6 25 544 162 393 731 305 227 690 315 35b 7,429 1,269 l, SI2 625 2 ,.133________________ 138 3,52_____ 523_____ 621_____ 2j3 , „ 965--- 3J-4 ^ , ^ | ^ . -790 959 352 2.133 342,4o6 1,706,467 400,076 441,936 230,241 195,550 769,449 231,112 168,198 242,532 128,44s 321,619 5,178, 3 6,772 2,996 905,915 203,113 2037^ 500 500 3,302 7 2 7 7 ^ 103,609 100 296 20,927 21,117 9,220 3,552 7,577 2,603 4, ll4 3,177 11,278 3,324 2,950 3,737 2,196 1,510 6,4l6 1,603 1,415 2,421 21,169 2,048 9>(95 28,203 ^ > 9 ^ ; 3,202 1,134 bills discounted with, dt ©old to Reserve banks 2,4+8 81,490 £9,4bb 23,062 32,05** Cc’ Jnn 7£*Uoi 1 G?C*OlG 98,517 673,210 96,460 128,111 55,171 4? 634 230,740 61,630 48,781 69 ,100 ^ , 4 0 1 1 , 620,076 36,073 110,762 52.235 36,751 31,979 13,4-88 55,234 34,225 S, 887 ,733 • *7 » 56.2 163__________________________________ 19______ J & ...JLQCg______ 4_02--- 180 ^ 73| M 6,325 157,923 933,588 166, 4o6 is6,l94 39,277 70,975 316;7S0 109,355 7 0 , 092121,267 65,676 1.3,754 2 , 4 o .,2^7 160,876 689,212 210,099 230,950 128,544 111,823 415,139 108,43 1 38,106 101,269 51,200 19|,.g88 2 .4SS,537 11,552 34,24* 11,816 10,70S 5,189 7,327 18,043 . 7,181 5,098 12,7^3 6,279 6,407 136,>91 2, 287 _.__JL3lL5-- 1,570 ,.1,36.2--- 3 Z L ---133— 1 J 3 3 — — 7-18537 » 5 ... -3y7 _, ■ — 3 4 2 ,4o6 1,706,467 400,076 441,986 230,241 195,550 769,449 231,112 168,198 242,582 128,442 .,21,619 5,1?8,134 Contingent l i a b i l i t y as endorser on other Federal 4,712 n 17,000 - 11,5^0 - rQ *7.7 20,000 - - - - > *>1 St.249c Released for publication Sunday morning March 9, 1919? not earlier. STATEMENT OF IEBEHAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MARCH 7 , 1919 * (In thousands of dollars-) Boston New York P M la. Clevjl. Ricks« Atlanta Chicago S t . Louis Minn. ICans-Cy. Dallas San FranISESRAL KESFRVB NOTES: Rece r, 3 d frca Ccup trc liar Returned to Ccdptroxler C-hj.r-sal'lR to F,R„Acont In hai:do oi. l!,*R*A^^it Iss-ec5- to J\R» ba nic less eoount re-,n:n^d to F .E .A s ^ n t for re demption 262 280 1,355 680 335,420 333,240 205,220 2.04,960 563 560 171 720 75!765 ___% 7 1S29 ?3.919 54,452 50,6.37__35^433. 8?'331 39.’570 18^,115 917,831 241,501 279,328 15^,533 169,522“481,229 132,150 21,200 152,400 20,500 32,770 23,075 5^,325 45’ 000 10*635 165,915 765,451 221,001 246,6 is _ i3 iI j52_ 115,197 436,222 121,515 Total 124,280 158,700 101,960 252,920 4,071,7^0 23.839 36,564 25 , 70 S 29,524__ Jjjfr,686 101,041 122,13.6 76,252 223,336 3,086,054 11*500 14*020 89,541 108,116 23,725 6,000 415,150 52,527 217 ,33>o 2^ , 670,903 C0LI-ArT51RAL SECURITY FOR OUTSTANDING Gold coin and certificates on hand Geld P^xvrvtior. TV’cl Geld S^ULaueut Fund - F.R.Board_ Eligible paper, Minimuca required To tal 13,052 5,749 3,505 2,483 2,399 9 . 64s 12,124 3,079 poo 345 60,931 3'8,500 44,360 39‘ oco 70,000 52,289 95,000 42,000 3^,270 140 ’f] -54__ 5 7 . 07 q 3 5 . SOfa 61.357 117 ^267___ 503 ..270155.925 109.993___ 8.6*319__ 1^ 551. 43C228 121,515 89,541 108,116 165,915 765,451 221,001 246,618 131,458 115,197 ittlCUFT OF EIIGI3IE PAPER DELIVERED TO F. R- ACVfCm 160,4oo 173,740 12,441 - 30,270 11.355 844,819 159,092 152,365 - 94,974 2,503 _ 873 78,630 203,349 75,907 50,615 87,599 12,581 2,727 3,684 12,954 78,252 232,146 79,457 852,237 3 3 .4 7 5 1 2 6 ,1 24..1JsOZJ^ol 52,527 217,336 2,670,903 53, 796- 133 , 867 2,101,419 ME M 0 R A N DA FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R- notes outstanding F. R. notes held by bank F-R- notes in actual circulation Bills discounted Bills bought in open market U.S.Go^ernuent short-tens securities Municipal warrants 765 451 221 001 246 613 131 , 45 s 115,197 436,228 121,515 8 9 ,5 4 i 108,116 7 i % I o m \ r;M x ? QiU v A 21,081 13.Q8H ....6 > $ 3 - ^ l Z L 160, 876 ' 689,’212 2107099 230,950 122,544 111,823 415, 1)9 108,431 88,106 101,2b< 165,915 5,0.39 52,527 2 l7 ,3 3 o -,670,903 >1,200 192,288 2,4ss,537 DISTRIBUTION OF BILLS, U.S. GOVERNMENT SHORT-TERM SECURITIES AND \-ARRANTS JY MATURITIES Total 31 to 60 days 6 l to 90 days Over 90 day: l6 to 30 days T7ithin 15 days , 887,727 21 ,130 74,323 54,691 207,151 1, 530,432 273 , 493 16,913 21 , 94s 90,233 83,799 159,235 137,072 2,216 2.02 19,745 4 4