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STATEMENT FOE THE PEES3 st. 72 b Released, for publication Federal Reserve Board Sunday morning, Nov. 30, 1919; Nov, 29, 1919' not earlier. CONDITION OF FEUDAL RESERVE BMKS. Increased loan activity of the Federal Reserve banks, through the discount of war paper and ordinary commercial bills, accompanied ty a further reduction in gold reserves and substantial addition to note circulation, is indicated in the Federal Reserve Board's weekly bank statement issued as at close of business on Nov«28,1919* War paper on hand went up 62-1 millions, other discounts 27*4 millions, and acceptances - 15-6 millions. Total discounts held by the Chicago and St- Louis banks include 23*5 millions of paper discounted for other Federal Reserve banks, as compared with 20»U millions the week before, while total acceptance holdings of. 7 banks were inclusive of 136-9 millions of acceptances purchased from the New York and Boston Reserve banks* Treasury certificates on hand went up 2.7 millions and total earning assets are shown 107 *8 millions larger than the week before. Government deposits show a decrease of 4*6 millions for the week, while mem bers1 reserve deposits went up 6 . 9 millions; all other deposits,including foreign government' credits, increased 3*3 millions and the "float" carried by the banks was about 37 millions less than last week's figure. Net deposits accordingly figure out 42.6 millions larger than for the preceding week. A reduction of 25»7 millions in gold reserves is noted, 6*5 millions of the total decrease representing sales of gold held with the Bank of England. Total cash reserves declined 27.3 millions. Federal Reserve note circulation shows an expansion for the week of 35*1 millions. As a result of the increases in deposit and note liabilities and the decrease in reserves, the banksT reserve ratio shows a decline for the week from 46.9 to U5 *5 per cent* St.724a Released for publication Sunday morning, November 30> 1919 > no^ earlier. COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS. November 29, 1918 November 21, 1919 November 2S> 1919 RESOURCES $370, 933.000 $248,012,000 $-235,342,000 Gold coin and certificates 444.547.000 440.286.000 395. 252 .000 Gold settlement fund ~ F. R. Board 142,195>000 135.696.000 *Gold with foreign agencies -JJL829 -000 V.z, 0-J9 , 000 534.754. 000 811.330.000 Total gold held by banks 1,21b, ;/l 000 Gold with Federal Reserve Agents 1,166,086,000 1,148,724,000 ' Gold redemption fund 118.475.000 -- Lki 613.000 133.587.000 $2 , 119, 315,000 2 ,Ob5,2x3,000 Total gold reserves $2,093,641,000 Legal tender notes, silver, etc. 67,6 57,000 66,025-000 -55*1 ^ 0 0 0 Total reserves 2 , 120 , 371,000 2,186,972,000 2,159,666,000 f)ll,000 1,412, 1 , 673 , 890,000 1.736,033,000 Bills discounted Goverament War obligations 402, Gsh.ooo 450.747.000 (All other 478.176.000 3U1 .000 375,________ Bills bought in open market 480.043.000 495.595.000 2,190, 53o',000 2 . 604. 680.000 2 . 709. 804.000 Total bills on hand 29,132,000 26 . 847.000 26 . 848.000 'U* S. Government bonds 57,000 57,000 U* S«. Victory notes * -92 ,664.000 285, 341,000 288,032,000 U* S* Certificates of indebtedness ______27,000 All other earning assets 2,312,359.000 2.916.925.000 3 . 024. 741.000 * Total earning assets 1 2 . 278.000 12 .878.000 Bank premises 736,328,000 1 , 000, 288,000 1.013.426.000 Uncollected items and other deductions from gross deposits 1 3 , 038,000 u , 621,000 12,671,000 5fo Redemption fund against F*R. bank notes 2 1 '3Q9,000 8 , 040,000 __________ All other resources 6.659.000 6 . 137. 541.000 5 , 194, 988, 000' 6.230.041.000 TOTAL RESOURCES LIABILITIES 86,885,000 80,072,000 87 .001.000 Capital paid-in 81,087,000 1 , 134,000 8 1 ,087,000 P Surplus 207 . 157.000 102 , 805,000 98 . 157.000 Government deposits 1 . 488 . 893.000 1 , 837 , 540,000 1 , 844, 434,000 Due to members - Reserve account 602 .667.000 811 , 204,000 861, 436,000 Deferred availability items 105,894,000 95,539,000 98.798.000 P^Other deposits, including foreign government credits 2 . 404. 611.000 2 . 847 . 088.000 2 ,902,825,000 Total gross deposits 2 .568.676.000 2 . 817 . 173.000 2 ,852 ,277,000 F- R„ notes in actual circulation 86 ,003,000 257 , 680,000 256 ,‘ 793.000 F* R* bank notes in circulation - net liability ___________ 54,492,000 47.628,000 All ier liabilities 50,058,000 6 , 137 , 541,000 5 , 194 , 988,000 TOTAL LIABILITIES 6,230,041,000 Ratio of total reserves to net deposit and F* R* note 56 .0$ 46-9$ * Includes 1-year 1iabi 1iti es coirfoined 45 .5/0 Treasury notes. Ratio of gold reserves to F«R. notes in circulation after 59,*8$ setting aside 3 5 against net deposit liabilities 54 .7$ 52 .5/0 St.724b Released for publication Sunday morning, November 30, 1919i not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS NOVEMBER 2S, 1919RESOURCES (In thousands of dollars.) Federal Reserve Bank of Boston New York Phila. Clevel* Richm. Atlanta Chicago St.Louis Minn. .ua.ns.Cy. -i^llas San Fran. Total 6,615 13»3 8,280 239 348 130 S,6UH 137,374 S,136 24,150 3 .3 12 i,24i 21,797 2,303 Gold coin and certificates 440,286 44,348 19,555 27,7 4 c 11,956 58,766 15,7 ’ + 0 22, 662 115,902 25 ,939 23,996 31,355 Gold Settlement Fund - F~R. Board 42,327 3 ,528 6 , 2 h 2 ?64 335,636 i 6 , jl 4 s 63378 4,685 6,513 49,800 10. ,256 1 1 , 1 27 6,649 9*906 Gold with foreign agencies 47 ',3 4.8 6 ±J.tjjO Bo, 877 303,076 38.036 56,920 140,307 35,683 99,Ob4 25,430 23, 300 50,331 29,03^ Total gold held "by banks 1,148.724 62,090 282., 877 73,522105,502 46,923 53,553247,491 69,100 34,334 33,917 24,996 104,399 Gold with F. R* Agents IC.,7' v7 1331587 ' 54__ 25,000__11,664 1.531 12-440 6.8Q6 20.927 6,418 2/579 5,284 3 , 4b1 ^ Gold redemption fund 149,821 616,9 5 3 12 8 ,222163,953 99,670 96 ,1323677482100,942 60,633 95,192 53 ,1 5 5 1 6 2 ,4S0 2>053,641 Total gold reserves 766,025 311 1 ,3 7 5 199 49,586 '477 J 27 211 1.217 2.389 4,800 !J Legal tender notes,silver,etc* 4,550 2,i59r66F 60,706 95,503 59 , 5^0 162,679 99,881 97,3^9 369,371 105 , 74 s 660,539 128,699 165,790 Total reserves 154371 Bills discounted: it Secured by Government war S 3?560 65,650176,503 49,151 30,999 47,750 29.681 56,873 i , 736.-03r 126,192 753,334 185,583 130,272 obligations (a) 478, o (3 Q 4* 88,956 24,150 29,455 47',531 15,507 23.,742 107,06s 12 ,6 84 32,966 l4l 340 36 ,5All other 39,236 495,595 9q “Z7 Uk 37.021 3,135 64,63^ ii.sio 11.9 12 99.323 33.638 20,I83 10 .7'0t 12 Bills bought in open market (b) 2, 709,804 153-443 '80,637 105.536 QT7 GpT 57 , 93 ‘ i 114,033 365.3S2 100,939 20 ],'402 227/932 109 j 10 Total bills on hand 193,775 jj »>-/-j 26, g4g 3 *3^6 116 8, 8bS 2,633 844 4,477 1,153 U. S. Government bonds 375 1,235 1,257 1,335 539 57 4 3 50 U. S. Victory notes 28£,x)32 3„3 SO 14,820 11,22.5 1 0 .sso 77,684 31.471 25.383 11.860 15,665 4o„ 236 17,366 U. 3- Certificates of indebtedness; 22.,562 221,877 1, 036,314 234,258 2540659 122,305 130,127 4x0,095 125,45s 89,136 129, 2/4 73,122 19b, 950 3 >024,/41 •Total earning assets 4oo 1 2 ,S7 3 402 394 600 691 491 503 2,936 Bank premises 1,07s 3*994 500 SS9 Uncollected items and other de ductions from gross deposits 249,903 88,495 7 8 , 112 85,648 4i ,665 111,150 70,776 22,96S 77 , 44s 60,341 48,085 1, 013,426 73,335 5$ Redemption fund against F,R. 12,671 655 206 559 822 1,856 bank notes 957 696 330 1,450 1.112 1,072 858 6,659 ... 2 b i. 505 147 281 180 1.087 227 All other resources 751 697 317 !■.$! , , TOTAL RESOURCES (a) Includes bills discounted for other F»R.banks,viz. (b) Includes bankers' acceptances bought from other F.R.banks With their endorsement Without their endorsement 457,550 1, 355,586 ^53,683 500,253 310,272 270, 61(6 336,995 303,230 173,763 304,089 194,27 5 409,633 6,230,041 - - - - - - - - 5,080 23,269 - - 19,500 4,000 15,210 33,161 15, 118 13 ,446 - - - 10,005 5,066 5,012 - - 23,500 11,547 40,474 S6, 44o cm Blindly morning, November 30* 1919> not earlier. H E G O U iiC ^ S A O T L I A B I L I T I E S Federal Reserve Bank of Boston New York Capital paid-in 22 ,44s 7,103 Surplus 5,206 32,922 12.692 37,272 Government deposits Due to members - Reserve account 10s,25U •787,739 Deferred availability items 188, 922 72,753 Other deposits including - 5,942 44,065 foreign government credits Total gross deposits 199, 64i 1, 057,998 F* R. notes in actual circulation 220.828 767,39s F.R.bank notes in circulation 21*169 5b, 150 net liability AS1 other liabilities 03___ 18r 670 TOTAL LIABILITIES St.724c OF TH E FED ERAL RESER VE B A M S AT C L O S E O F B U S IN E S S NOVEM BER 2 8 , 1919. (In thousands of dollars.) l i a : I L I T I E S Phila. Clevel* St.Louis Minn* Kans.Cy« Dallas San Fran, Total 4,386 3 ,4o6 12, 30S 4,057 7,873 9,469 3,060 3,996 S7, 0ui 5,458 3,437 3, sco 5,311 5 , s 6o 2 ,S05 2,029 9,710 2,589 2,320 81,057 4, 57 s 3,957 7,015 2,470 3,238 3,043 2,564 4,025 6,971 5 , 3 is 4,050 9,499 98,157 s i, 472 132,261 66,273 52,853 246, S55 62,016 50,508 s 4,455 59 ,4s6 i l l , 662 l, s44-?'-'•34 90,160 67,506 71,595 33,575 91,131 62,591 19,199 82, lb3 43,298 32,543 86: 1,436 6,976 6,019 3 ,5 94 2,706 7,312 2 j156 659 3,747 3,637 2,935 98,798 _________ 185.623 208,S56 146J S 0 99s 159 354,616 1377853 75,101 173, 2.98 xcc. 333 15 3,567 2 OQ?,?25 223,051 25.1,011 141,556 l 4s, 567 473^062 l4l'0Q9 S3,7S4 101?749 69.176 229- GoO 2, 852,277 27;33s 21'490 11,702 14,703 39, 15,996 8,006 18, D6o 9, 992 1-065 256>793 L. 3,887 3,573 2r04S 2,006 5J 05_ AJSjS. -2 3 j1 __ 1^08__ \J52SL__ 50j_Q5_s 457,550 1,955,586 453,683 500,259 310,272 270,646 296,995 303,290 173,763 304,089 194,275 1*09,633 6,230,041 Contingent liability as endorser on Discounted paper rediscounted with other F. R. banks Bankers’ acceptances sold to 40,474 other F. R. banks MEMOS A N DA * 23,500 23,500 40,474 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. notes outstanding F. R. notes held by bank F~R»notes in actual circulation 228,196 7,368 845 s49 233,830 264,509 146,779 153-207 499,786 161.494 _ 78,451 10,779 13,498 5,223 4, 640 24,724 20,485 85,550 107.443 72,436 260,573 v o * g 652 i[iS 6 5163^ 3>2£o 31,487 " 207^375 220,828 76T ,398 223,051 251,011 14.1,556 l 4s, 567 475,062 141,009 83,784 101,749 69,176 229,086 2,852,277 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES, Bills discounted Bills bought in open market U.S. certificates of indebtedness Within 15 days 16 to 30 days 1,582,690 135,642 89,003 85 ,690**7 30,235 13,012 31 to 60 days 6l to 90 days 183/440 293,789 20V397 i,037 117,339 1 4 ,15s 17,324 Over 90 days 1 8 , 64o 2^-2&6-rf3213,303 Total 2, 214, 209 495,595 28S, 032 St-72Ud Released for publication Sunday morning, November 30, 1919; n°t earlierFEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS NOVEMBER 28, 1919* (In thousands of dollars.) Federal Reserve Agent at Boston Mew York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total FEDERAL RESERVE NOTES: Received from Comptroller 196,160 131,740 382,120 51,810,500 458,800. 1 ,ssh, SfaQ 492,780 451,760 292,640 289,000 797,880 286,280 146,480 : Returned to Comptroller 182 ,324t 276,476 'Chargeable to F. R. Agent In hands of F. R. Agent Issued to F.R. bank less amount returned to F.R. Agent for redemption 48,280 228,196 916,011 230,970 163,431 122 ,5*3 Sb,92S 269,734 10_ ^ Q 6 52,820 82,407 4D./514 117,^97 £-.379,085 966,849 261,810 2S&,329 169,797 202,072 528,146, ISO,3.71*- 93,660 : 113,751 85,426 264,723 j>,431.415 121,000 27,980 23,820 23 ,01a 4S,S6'er 28,360 18,880 8,110 6,310 845,849 233,230 264-,509 146,779 153,207 499,786 l6l,494 85,550 107,443 12,990 4,150 371,763' 72,436 260,573 ]5,059,652 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold coin and certificates on hand 2,500- 24-,125 183,740 4,,000 13,052 3,169 1,502 2,557 47,000 23S,l44r 61,931 19,800 36 ,3.60 51,196 68,526 236 ,24s 8,831 14,492 99,461 1 1 ,484- S9,907 813,015 4,681 Gold redemption fund 13,090 14,137 15,133 16,377 Gold Settlement Fund,-F«R.Board 49,000 85,000 Eligible paper,minimum required 166,106 562,972 155,308 159,007 528,196 845,849 233,S30 264,509 146,779 153,207 459,786 1 6 1 ,49^ 65,550 107,443 72,436 260,573 ;5,059,652 TOTAL AMOUNT OF ELIGIBLE PAPER DELIVERED TO F. R. AGENT « » 63,389 923 65 ,00a 46,ooo 95,856 4,053 9,34? 99,654. 252.295 198,776 956,361 159,400 227,862 100,780 102,356 364 ,95s. 106,739 66,115 105,586 . 156 ,174 :L,210*228 2,616,530 57 ,991^ 171,606 i
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