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Tha Bttllttin i8 istmed for the infnnnatfon of Member Banl,s an" tho Bw,i11e•a Intore,ta of thi8 District. If copy is rec,ived in advance, it sh.nuld b• un· deratood i! is intendtd as a ap,cial C?ttrt<8!/, and its contents arc confid<n!ial, Tl<ill copy is not to be rel.,asod for pttb!ication before JULY 25, 1919 FEDERAL RESERVE BANK OF KANSAS CITY ASA E. RAMSAY, C. K. BOARDMAN. CHA.CRMAN BOA.RC OF DIRECiOAS AND f'EOERAL RESERVE AGENT ASSISTANT l='EO ~RA.L RESERV 15: AGE:NT REPORT OF CONDITIONS IN DISTRI~T No. 10, FOR THE MONTH OF JULY, 1919. Kansas City, Mo., July 25, 1919. HE business and industrial activity in the Tenth Federal Reserve District which pre,·ai led in the month of June is e;,._'i:ending through July and there are n o indications of a slowing down of this act1v1ty for many weeksor months-to come. There is every evidence of plenty of money in the country and the realization of a wheat crop which, though it may not measure up to the optimistic anticipations of s i..-... weeks ago, is large enough, with bountiful y ields of other farm products in prospect. to make money easier in rural comnmnitie~. as weJl aB in the industrial and trade centers. Prices are constantly hardening and, while reluctant to accept present high levels as a basis for future operations, the public appears to be acquiesc.. ing to the e..xtent t hat it is uuying as it never bought before. Corre"pon<lence to the Bulletin discloses that this district is s haring in a large measure the prosperity· which h:is come with the ending of the great vVorlc.1 \Var. Some of the industries have found it difficult and slow to rea<ljnst to peace-time conditions, an~ <li~turbing factors have retarded progress in some localities, but these are regarded as merely temporary obstacle~. Aside from a strike of about 2,0ClO miner,in the lVlissouri-Kansas-Oklahoma coal mines, the onl_y factor which at this time is adversely affecting a portion of the cl istrict to a serious extent is the lack of rain on the mountain ranges and farms in parts of \Vyoming and Korthem Colorado. Reports as a whole, howe\·er, indicate that with the exceptions noted conditions in the district are better than they have been in many years-if ever they really were better than now. An era of pt1blic and private improvements has set in in nearly every community. Building is in greater acti\·ity this summer than it has been since the war first started 111 Europe. Manufacturing plants are busy am\ high prices are being paid for their products, thot1gh the difficulty of obtaining supplies of raw material.:; is still restricting their operations. Oil op· eration is now coming up. Something of a boom has struck the sih·er and gold mining regions in the mountains, and there is a tendency toward improved prices of lead and zinc which gives a more hopeful outlook for the future of that important industry. T Financial. Bank clearings at eighteen of the cities of the district so far this month are keeping close to the high record of June which showed transactions amounting to $1,484,707,804, or 25o/o in excess of the total transactions in Junc, 1918. Only three of eighteen cities reporting failed to record an increase in June over the same month last year-and June, 1918, was a month when America vvas exerting every energy and resource to ·win the war. The clearings for the first six months of 1919 have forged ahead of the high record of the six month& period in 1918. The tabulated reports of clearings in these eighteen cities appear elsewhere in this Bulletin. The total reported for the six months of this year is $8,764,798,788, compared v,rith $8,234,115,169 for the first six months of 1918. The increase of $530,683,619 for the six months period is 6.4%, Notwithstanding continued heavy demands for loam, ior crop harvesting, payments made by banks in thig district on Victory Loan subscriptions have been surprisingly large. Including the July 15th installment, banks in this district have made payments aggregating nearly 80% of the total district allotment of Victory Loan bonds. Payments required under the Gov- ernment installment plan v.rould be only 20'fo of the allotment. This indicates that as soon as returns from crops are received, a very large amount of loans will be liquidated and money will be plentiful. In the meantime, howevei-, the demand continues stro11g and the rates firm. General Business. Reports from representative business houses in the principal cities tell of a general expansion of business in all lines. In Denver, Colorado Springs and Pueblc, ~usiness is excellent and seems to be steadily increasmg. Denver, however, has been somewhat inconvenienced since July 7 by a street car strike and tie-up of the transportation lines. Omaha reports business good with all strike troubles at an end. In Lincoln business in every line seems to be above normal with an element of excitement in the merchandise market. 1'opeka bt1siness never ,vas better, according to the report, and \Vichita is having something of a boom. Oklahoma City, Tulsa and rviuskogee report increases in most lines, but greater iniprovement is promised as the farmers are beginning to get returns from their wheat crop. Santa Fe business conditions are highly favorable. Kansas City reports business good and st~ady ·with everyth~ng favorable to a great fall and wmter trade, co_n<l1boned, however, on the ability of manufacturers, Jobbers and merchants to obtain the goods with which to supply the largely increased demand. Joplin shows a satisfactory increase in spite of t he slow mining operations in that district. St. Joseph rep?rts show a stea~y tr?-de ~v\th prospects for big bus mess to come. Vv yommg c1t1es show a 1,ood business in the face of discouraging crop ;onditions. 11.Ioney from oil, live stock and wool are big helps to the trade in that state. An analysis of reports of thirty-seven wholesale and retail houses records busine:ss "improving" in sixtee11 report::, two "satisfactory," seventeen "steady" and "good," one "normal" and one "unsettled." Sales in June and in the first six months of 1919 are reported by twenty-eight houses as having increased, the increase varying from 5% to 55%, ,vith more in the 30 class· than in any other. Six houses report sales about the ,;;ame in volume as last year. Two report declines in business and one a "greatly decreased husiness,'' due to local conditions. Collections are rei;iortcd "good·' or "excellent" by all but five houses. and these report collections "fair." Department stores all report a good business. Mail order houses are reaping the benefit of their regular sales "flyers" which go out every year at this time covering the periods of J unc, July and August. A ~endency to buy better goods and to buy liberally IS apparent from most of the reports, but in some instances the volume of increase is in the money rather than in the number of sales. Mercantile Trade. Dry goods, including men's and women's clothing ant.I fnrnishings, are in good demand. .:Vlaterial adv~nces have been m~de in prices on practically every km<:1 of g:ood°', particularly t~xtiles. The millinery business 1s wonderful, accordmg to reports of large dealers, with indications of a good fall trade. \Vholesale shoe dealers are busy with future orders and retailers are having good ~Jes. Serious concern is felt among both dealers and manufacturers over the hio-h and constantly rising prices of raw skins and leathe;s. Je,velers are having a busy trade but have rrreal difficulty to obtain stocks. Drugs and drug sundrie, are in large demand. Furniture dealers are having trouble obtaining known. '!.'he condition of oats at the beginning of the harvest supplies, a nd t h e ir stocks on hand a re rapidly beingdepleted. T hese dealers r eport th at eastern factories was generally excellent, with indications pointing t0 are re turning orders saying that t hey are sold up for a greatly increased yield over last year's record. The a yea r. O ne of the large,;t deale rs in N el)ras ka writes July weather is regarded as very favorable to the mathat lie is going o ut of bus iness if he is no t able to get turing of the grain. Rye and barley are abo in goo<l condition for the harvest. merchandise. The new wheat is now flowing into the market There is no indication of lower prices on groceries but the demand continues heavy. Small fruits and ber- channels with receipts at terminal points mounting ries, although plen tiful, ar e selling a t enonno us ly high daily. On account of the Government's guarantee, toprjccs, d ue, _it is r epor ted, to the gr eatly increased cosi gether with a transportation shortage, it is believed there will be a more even distribution of the 1919 crop of labor in picking and packing. The bt1ild ing boom is causing stro ng dema nd for and less probability of a grain blockade, as with fixed hardwar e, m echan ical t ools a nd all kinds of materials. minimum price assured many growers ·will be dispose<! Lumber, brick and cement are showing great activity to hold their ,vheat in the hope of getting a good premium. w ith no appr cc ial.>le red uction of prices in prospect. }1illing operations \vere conducted at about 25% of D ea lers r epor t a.n im proYem e-nt in sales of medium and low t:r pr iced automobiles. while the dem a nd is capacity in the first half of this month, as compared strong for t h e favorite rnakcs o[ the hig h er-priced car:: with about 40% of capacity in same period Inst year. with sales in excess o f deliv eries from the factories. l\Iillers arc buying rather freely of red wheat which is Automobile accessories arc haYing large sales and with practically on the GoYernment minimum basis. The the summer tourist travel over the numerous high- red ,vheat thus far is of fair to good quality and the ways t o the mount ains, t h is line of bus iness has r each- flour is fine. ed a hig h sta ge o f activity . Sales of trucks are in- Live Stock. creasing as, in a dd ition to commercial dem a nds, man} A marked increase in the price of hogs under liberai light trucks a r e being sold for farm u se. Tractor.; supplies, and an equally marked decline in the price and ha r vestin g machines have ueen in larg e demand of cattle under reduced supplies, are singular and strik 0 and the farm implem en t trade is good for t h e time ot ing features of the live stock sitttation this season at year. the six markets of this district. Reports of a shortage of fats in Europe ar_e having a stimulating influence Crop Conditions. "\Varm weather, with plenty of sunshine and light on hog prices, while surplus stocks of beef in storage sho'\vers this month, has been favorable to rapi<l and slow demand are said to have brought a lowering growth of corn in 1.he "corn belt." In many places of cattle prices. Government g·uarantee of foreign the fields ,vere in good condition for laying-by, while credits on export beef is expected to bring an upward in some of the low lands the growth was so vigorous tendency to cattle prices. \ Vhile the supply of hogs on these six markets in that-with the wheat harvest on their hands and demanding attention-corn was laid by in grassy ·shape. the fir:;t six months of 1919 was lOo/o larger than in Reports show the condition of corn at this time ,vell the corresponding h.alf-year period in 1918, the records above normal and great improvement has been made show an advance in hog prices each month this year. since the June estimates of the federal and state crop On July 14 hogs ,vere $5.20 per hundred pounds higher than on the same date last year. bureaus. \Vith respect to cattle, the records show prices in. Burlington railroad crop experts on July 12 estimated the condition of corn in Nebraska at 95% on creased from the beginning of the year up to and intwo divisions, 97% and 98% on the other two, indi- cluding April, and then began to slump. Top native cating a remarkable improvement since the state and ,;teers, ,vhich in January were $4.90 per hundred federal estimates. In Kansas, '\vherc the state estimale po unds hig her t han in the sam e month of last year, for June was 75.4%, an· improvement has been made. dropped 25 ceuts per hundr ed pounds below the 1918 In Missouri and Oklahoma the condition is said to price in .May. a nd on J uly 14 wer e $3.00 per hundred be slightly better than the June estimates of 78% in po unds lower _than on the corr esponding clay in 19 18. For illustration, the top prices of both hogs and the former and 87% in the latter state. All reports at this time indicate a good yield of corn this year cattle at Kansa:; City for the months of 1919, as com· as compared ,vith the scant crop of last year, but with pared with last year's prices, are here given: Hog Prices Cattle Prices a greatly reduced acreage. 1919 1918 1919 1918 Grov,ring cond_itions of cotton in the southern part $16.70 $18.40 $13.50 of the district were unfavorable up to the latter part January .......... $17.50 17.75 18.50 13.75 of June. Since then there has been some improvement, Februarv ......... 18.00 li.50 18.50 14.10 but nearly. all stands of cotton are reported below 1vfarch.· . ......... 1980 17.75 i9.50 1 7.35 normal in Oklahoma. The late June condition v.'as April . . . . .. . . .... 21.00 17.70 17.50 17.7~ placed at 67% as compared ,vith 86% at the same May . ....... . . . .. 2 L10 June . . . ... . ..... 21.35 17.00 16.00 18.00 time 'last year. 17.25 15.50 18.50 Alfalfa is in good to excellent condition ,vith first July 14 .... . .... . 21.45 The r ecords of receipts of live stock at t he six cuttings t111L1sually heavy in many sections. Sorghums, potatoes, gardens and sugar beet.s are making gener- markets for June and also for the first six months of ally satisfactory progress, with little damage from the year, with compari!'ons, are as follo·ws: June Six Months worms. Pastures are good and live stock is doing 1919 1918 1919 1918 well except in the mountain ranges of \Vyoming and :-Jorthern Colorado where rain is badlv needed for Cattle .. : ..... 352,565 453,150 2,630,751 2,903,224 Calves ....... 44,123 26,145 206,427 139,095 pastures and dry farming. • Hogs . · ...... 890,461 738,979 6,189,771 5,579,475 The 1919 Harvest: The wheat harvest has been practically' completed S heep . . . . . . . 446,249 349,957 2,723,752 2,606,262 5,159 62,214 91,402 and the han·esting of oats, rye and barley is well under Horses & 1[ules 8,604 · .Packing oper ations ior the 1919 six m onths period, way. Early reports on threshing are showi1i-g wheal yields considerably below the federal aud state esti- ,;lwwn by p ackers ' purc hases of a nimals for slaug hter mates made at the beginning of the harvest. Rust and at the markets of the db;trict, wer e, 1,130,465 cattle. bligl1 t, with excessive heat causing a too quick ripen- 114,608 calves, 4,247,886 hogs and 1,457,369 sheep. ing, are said to be responsible in many sections for There was a decrea~e of 2o/o in the number of cattle reduced yields. In parts of the 'Missouri valley states s la ug htered. bu t an increase of 20% in t he slaughter considerable trouble was caused by falling wheat, but of calves. 14% increase in the :;laughter of hog:; anci in all but a few case:; the wheat was harvested without 12o/c- increase in t he slaughter of sheep. l\Iarkcd r eductions in t he wholesale prices of beef were made in any great loss from this cause. \Vhile no new estimates have been made public upou the last s ixty day:;. :Pork prices, howeYer, remained. which to base calculations as to the extent of the.1919 3teady "· ith a tendency to go higher than the high wheat yield, the reports which hav·e coine fri £tom m-a"l'k that lrns been m a inta ined this• season . many sections would indicate that the hig li estimates Pefrcileuin, R eports of field o·p erations at this season indicate of June which placed the. probable yield of the district at 340,000,000 to 382,000,000 bushels, wi!I i10t be re~ grente r .:.effo r ts t ha n have pr evio usly been made. to inalized. However, it is safe to resern: a definite con- t n ;a_se p roduction oi oil, a n d v,,it h good prospects oi' clusion as to the vield of 1919 wheat until more of the :,;uccess. N ew fields a r e being p rospected and more wheat ha:; been thre:shed and resuhs are definitely ·wells a1'e heing drilled in the proven fields which have shown greatest production in the past. At the beg inning of lhe month of Ju ly, no fewer than 2.472 new wells w ere dr illing. Th is is an increase of 59 over the a mount of new work u nder w ay at the beginning o f June. Oklahoma reported a gain of 31 and vVyoming a gain of 29, Kansas reporting 1 less. Complctioll of wells in J une, w ith full retums in, did not come U]J to the high record of May, while new daily produc tion of oi l from. the wells broug ht in was 55,281 barrels as compared with 56,021 barrels in May. A remarkable gain of 8,799 barrels new daily production 1Yas reported by Kansas. Oklahoma and \Vyoming- both ~ho,ved a smaller volume of new daily production irom cornpktcd weJls. A summary of the Jttne operations and developments follqws: Number "\Vell,.; Barrels New Kew Rigs and Completed Daily Production Drillings Kansa.~ . . . . . . . 353 17,490 526 Oklahoma . . . . . 753 36,526 1,560 Wyoming . . . . . 30 1,265 387 Tota.I June . . . . 1,136 55,011 2,473 Total i\Iay . . . . 1,247 56,021 2,414 The production o i oil in Kan sas and O klahoma early in the pre~ent mont h reached 302,550 barrels daily, the highe~t record that has been made <luring t he present year \\' yoming is ma.king a b ig record with an increased output. other plants were operating with short forces. A similar situation was reported in the coal mines and also to some extent in the metal mines of Colorado. Building. A remarkable increase in building achv1ty is disclosed by returns from the leading cities of the Te.nth Federal Reserve District. For the month of June the estimated cost for \vhich permits were issued in fifteen cities was 239% larger than the estimated cost of buildings in the same cities in June, 1918. The returns for the first six months of 1919 shov,· an increase of 62% over the corresponding period in 1918, although little was done in the first three months except on repairs and necessary extensions. The following tabulated statement shows the relative increase in building permits issued and the estimated cost of construction as reported by the building departments of fifteen leading cities of the district for the month of June, with the totals for the first six months. Pct. Gain No. Permits Est. Cost or Loss $2,219,743 Tulsa, Okla. . . . . . . . . . . 258 +410 Kansas City, Mo.. . . . . 414 937,550 34 868,805 Oklahoma Citv, Okla.. 161 +241 \Vichita, Kans~ . . . . . . 116 801,340 91 634,320 Omaha, Nebr. . . . . . . . 224 + JS 521,650 Denver, Colo. . . . . . . . . 278 +131 Okmulgee, Okla. . . . . . . 67 +522 229,750 187,730 St. Joseph, :Mo.. . . . . . . 67 +732 170,276 Kansas City, Kas.... . . 47 + 74 161,380 Lincoln, Nebr. . . . . . . . 75 10 152,790 +452 Topeka, Kans. . . . . . . . 43 l\foskogee, Okla. . . . . . Li -24 53,350 43,200 Pueblo, Colo. . . . . . . . . 53 3 24,454 +354 Colorado Springs, Col.. 36 0.8 19,900 Joplin, Mo. . . . . . . . . . . 25 + + Mining. 'fhc coal mmmg situation is causing considerable co11ccrn on account of the certainty that, unless condition!' arc irnprm·cd at once, there w ill be a g reat shortage oi bituminous coal in the fall . a nd winter. The mine, ha,·c been operated (or some tune at about 50~i capacity and the coal output is far sh ort of the output to t he same dat e last year ; and now tha t demand~ are more pre:'sing operators a re finding it dif[icul t to get e..--.pericnccd miners. In addition t o t hb difficult\· a strike has shut down t he mines o f the Total June, 1919 .. . . 1,879 $7,026,238 +239 Ccatral 'coal and Coke Company in Southern Kansas, 1'otal June, 1918 . . . . 924 2,937,847 Missouri and Oklahoma. \Vhile it is difficult to foreSix months, 1919 . ... 8,945 23,007,070 + 62 ca~t. the lcn~th of the stri ke, it is realized th a t ever y Six months 1918 . ... 5,137 14,170,830 ,Jay the men a rc out only increases the gravity of the \Vhile it is evident that the anticipated building ~iti.1atio11. Repeated warnings have · been given the boom has come, the official reports indicate that the puulic 10 lay in their "vinter s upply of coal in the greater activity is in construction of long delayed comsummer ,· anti whik a great many haYe heeded the mercial buildings, schools and public buildings, an<l warning, there a re thou~ands of families w h ich have that the effort to meet the housing demands has barely ne~l..:cteJ the opportunity. started. In fact, the growth of the cities and to,vns of The metal m ining s ituation in Colorado s ho,,·s little this district is hampered by lack of houses for homes. ehange so far as production is concerned. Little new The high cost of building, together with a shortage work has been in itiated except in the case of silver of mechanics, is holding the building of many thousmining. SeYeral large deals have been reported i11- ands of d\vellings in check. In several cities there i_s volv ing extensive proper ties producing that metal a great scarcity of rental houses which has· stimulateµ ,\·hich fhould result in an increase in p roduc tion in a activity in sales of residi:ntial property, many new few month~. On the basis of present prices of silver comers being forced to buy in order to house their greater p roductiYe activity ma) be looked for from families. In some of the cities, particularly in the di! now 011. Tile lifting of the ban on gold exports s hould and mining districts, newly arrived families are issued also haYe an influence tO\Yard br ingi ng back the old- permits to erect tents on public grounds to house their time pro!<perily in mining. It is reported in D e nver families. The commercial needs are equally pressing, that the large tungsten m ines in Bou lder Co unty will while many public buildings are held back until the be reopened if Congress passes t h e pro posed protective situation eases up. tariff on this metal. Labor. There was a decided change in the trend of prices Reports from all ~sections of the distr:i.ct.. an th~t of zinc ores in the month of June at the Joplin market. Blende ore:; in that month cn-eraged $42.28 per toll labor is more fully employed at this time_than _at any as compared w ith $37.80 per ton for 1\11ay . Calamine pre,·ious time for many months, and there is no indiores a\·eragecl $26.56 per ton as compa red with $24.80 cation of reductions in wages,. The \1arvest fields in l\.lay. The upward t rend of p rices is said t o have have taken about all the surplus labor frorri the cit.ies been due in part to the dimin ished output and in- and towns and a shortag~ of unskilled labor has ·recreasing demand, and also to t h e £act t hat the surplu:: sulted. Increased building and industrial _activity also stock in the district is held in strong ba nds w hich have caused a scarcity of skilled mechanics, while in have set a price on their product at a level higher some cases the reports shov,· a scarcity of competent help in offices, banks and stores. than the prevailing market. Numerous strikes and demands for new wage scales The lead ore market has shown a decided improvement in p r ice. From the level of $57.00 per t on for anu new \.vorking conditions have occurred during the 80% leatl the market price has r isen to $60.00 per t on , · summer season. Generally these have been adjusted wh ich preYailed for thn:c weeks in J une. Prices av- and an easier feeling with re-'?ect to labor conditions eraged $59.52 per ton in J une as compa red w ith is now felt. Omaha reports the strike troubles of last month ended and Muskogee's street railway strike is $57.15 in Mav. in process of arbitration and cars are being operated. Shipments in June averaged 8,500 tons per week 1n Denver a street car strike was inaugurated July uf zinc ores, 233 tons per week of calamine and 1,191 7th, the question of wages being the issue. tOt15 per week of lead ores. A shortage o f production A strike of men in the mines of the Central Coal 111 the Joplin district was d ue 1.0 large numbers o f miners wor king in the ban-est at the hig h wag es of- and Coke Company, inaugurated July 17th, has result~ fered by farmers. Operators in t rying to open their ed in the closing of operations in the company's explants fot1ncl it impossible to obtain labore rs, while tensive mines. Upwards of 2,000 men are out. + + TRANSACTIONS REPORTED BY EIGHTEEN CLEARING HOUSES OF THE TENTH FEDERAL RESERVE DISTRICT FOR THE MONTH OF JUNE, 1919 and FOR SIX MONTHS OF 1919, WITH COMPARISONS JUNE 1919 Kansas City, Mo ....... $ 845,199,349 Omaha, Nebr. ....... . 233,979,757 128,146,450 Denver, Colo........ . 67,274,414 St. Joseph, Mo....... . 50,046,474 VVichita, Kans. . . . .. . 44,897,443 Oklahoma City, Okla .. . 41,941,989 Tulsa, Okla. . . . ..... . 20,487,459 Lincoln, Nebr....... . 12,098,390 Topeka, Kans. . . . .. . . 12,982,071 Muskogee, Okla. . . . .. 5,933,000 Joplin, Mo........ .. . 4,219,821 Colo. Springs, Colo.. .. . 3,255,628 Fremont, Nebr. . . . . . . 3,430,458 Pueblo, Colo........ . 2,673,602 Kansas City, Kans... . . 2,760,420 Hastings, Nebr.... .. . 1,688,786 La\vrence, Kans .... .. . 3,692,283 Okmulgee, Okla . . . . . . 1918 Inc. or Dec. $ 667,174,145 +26.7 203,481,636 +15 80,284,778 +59.6 62,771,846 + 7.2 +52.9 32,723,988 30,097,785 +49.2 47,082,045 -10.9 18,706,125 +9.5 13,421,788 - 9.9 8,312,063 +56.2 7,197,583 -17.6 2,474,099 +41.8 2,552,386 +27.5 2,768,961 +23.9 2,191,179 +22.0 2,375,091 + 16.2 1,484,018 +13.7 Total clearings . . . .. . $1,484,707,804 $1,185,099,516 +25.2 SIX MONTHS 1919 1918 Inc. or Dec. $4,752,811,182 4.2 $4,950,530,476 1,442,509,155 1,380,701,713 + 4.5 548,090,403 +32.5 726, J25,251 454,043,908 464,893,521 - 2.J 259,516,255 216,961,343 +19.6 256,364,979 216,920,092 +18.2 243,301,964 243,809,928 - 0.2 125,284,924 116,620,818 + 7.4 80,227,761 86,948,948 - 7.7 i0,856,641 60,990,375 +16.2 39,394,000 47,623,791 -17.J 22,254,153 19,876,575 +11.5 19,739,513 21,859,590 - 9.7 19,369,461 17,799,094 + 8.8 18,454,169 13,485,810 +36.'.J 14,735,769 14,950,313 - 1.4 10,245,S56 + 4.8 9,771,673 *11,844,861 -------- + 4.8 + $8,764.798,788 $8,234,115,169 + 6.'i *Clearings April, May and June; no previous record. Statement of Condition of FEDERAL RESERVE BANK OF KANSAS CITY INCLUDING BRANCHES RESOURCES · At Close of Business July 11, 1919 July 18, 1919 Gold Coin and Certificates ..... $ Gold Settlement Fund F. R. Bd. Crtild with Fed. Res. Agent. . . . Gold Redemption Fund. . . . . . . Legal Tender Notes, Silver, etc. Bills Discounted: Seou:i-ed by Govt. War Obligations .............. . All Other . . ............ . Bills Bought in Open Market. U. S. Govt. Bonds ........... . U. S. Cert. of Indebtedness ... . Bank Premises . . . .......... . Uncollected Items and other Deductions from Gross Dep.. 5% Redemption Fund Against F. R. Bank Notes ......... . All Other Resources ......... . 98,725.00 $ 153,465.00 36,774,512.14 35,315,335.86 32 816,935.00 31,460,535 00 8,362,897.20 9,646,297.20 296,962.00 229,065.00 38,606,139.78 46,991,533.32 1,998.79 8,867,650 00 7,396,500.00 4Q0,538.25 38,770,101.20 44,957,431.56 1,998.79 8,867,600.00 7,344,500.00 400,538.25 55,747,903.90 68,941,420.37 728,500.00 487,866.74 729,700.00 477,117.47 Total Resources .. ... .. .. $237,578,662.12 $247,295,105.70 LIABILITIES Capital Paid In .. ............ $ 3,768,300.00 $ 3,769,200 OU Surplus . . . . . . . .. . . .. . . . . . .. 3,957,137.55 3,957,137.55 Government Deposits . . . . . . . . 6,165,535.23 6,964,535.38 Due to MembJrs, Res. Account 76,664,025.08 75,417.872.94 Other Deposits . . . . . . . . . . . . . . 711,892.87 5,021,928.08 Deferred Availability Items... 39,265,104.91 43,839,318.00 F. R. Notes in Actual Circulation . . . . . . . . . . . . . . . . . . . . . . 93,081,055.00 94,086,640.00 F'. R. Bk. Notes in Actual Cfrculation . . . . . . . . . . . . . . . . . . 12,964,780.00 13,224,955.00 All Other Liabilities..... . . . . . 1,000,830.48 1,013,518.75 Total Liabilities . . ...... $237,578,662.12 $247,295,105.70 OTHER TOTALS Total G0ld ~~serves .......... $ 78,053,069.34 $ 76,575,633.06 Total Earnmg Ass2ts. . . . . . . . 101,863,821.89 99,941,631.55 Total Gross Deposits. . . . . . . . . 122,806,559.09 131,243,654.40 Ratio of Total R2serves to Net Deposit and F. R. N otcs Lia48.9% 49.1% bilities combined . . ...... . Ratio of Gold Res:irve to F. R. Notes in Actual Circulation after setting aside 35% against Net Deposit Liabili58.4% 58.9% ties ..................... . CLEARINGS Total Clearings for Week ..... $173,429,524.90 $199,121,532.85 Total Number of Items handled 558,499 523,449
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