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STATEMENT FOR THE PRESS. Released f o r p u b l i c a t i o n Sunday morning, August 17, 1919* F e d e r a l Reserve Board August l 6 , 1919 CONDITION OF FEDERAL RESERVE BANKS. Net l i q u i d a t i o n of n e a r l y 100 m i l l i o n s of d i s c o u n t e d and p u r c h a s e d b i l l s , accompanied by a s u b s t a n t i a l r e d u c t i o n i n Government d e p o s i t s i s i n d i c a t e d ty the Federal Reserve B o a r d ' s weekly bank statement i s s u e d as a t c l o s e of business on August 15, 1919, War paper on hand shows a d e c l i n e of 85*6 m i l l i o n s , other d i s c o u n t s on hand a decline of 5 . 2 m i l l i o n s , and a c c e p t a n c e s - a d e c l i n e of 6 . 9 m i l l i o n s . The i n - crease of 66 m i l l i o n s i n Treasury c e r t i f i c a t e h o l d i n g s r e p r e s e n t s l a r g e l y the amount of temporary c e r t i f i c a t e s i s s u e d to the Chicago and New York banks t o cover advances to the Government pending c o l l e c t i o n of funds from d e p o s i t a r y i n s t i t u t i o n s . Total war paper holdings of the Chicago, S t . Louis and Minneapolis banks include 71.U m i l l i o n s discounted for other Federal Reserve banks, as against 85»2 m i l l i o n s shown the week before. Acceptance holdings of the Cleveland and San Fran- cisco banks include 42«5 m i l l i o n s ( a s . a g a i n s t 4 4 . 4 m i l l i o n s ) purchased from other Federal Reserve banks. Government d e p o s i t s d e c l i n e d 5 0 . 1 m i l l i o n s , w h i l e member's r e s e r v e d e p o s i t s went up 21.6 m i l l i o n s and the " f l o a t " c a r r i e d the Reserve banks - 15.2 m i l l i o n s . Net d e p o s i t s show a r e d u c t i o n of 42-5 m i l l i o n s , w h i l e F e d e r a l Reserve n o t e s i n c r e a s e d by 8,8 m i l l i o n s . o f f s e t to Gold reserves declined 2 . 2 m i l l i o n s , larger export withdrawals being sogto e x t e n t through g o l d d e p o s i t s ty the Treasury. Cash r e s e r v e s show reserve but a s l i g h t d e c r e a s e . The b a n k s ^ r a t i o shows, a r i s e from 50.4 to 50-9 per c e n t . An i n c r e a s e of $593>000 i s i n d i c a t e d i n c a p i t a l account, t h i s amount r e p r e s e n t - - ing l a r g e l y a d d i t i o n a l stock of the New York F e d e r a l Reserve bank i s s u e d to members in consequense of i n c r e a s e s o f t h e i r c a p i t a l and s u r p l u s a c c o u n t s , Ralsacad f o r - p u b l i c a t i o n Sunday morning, August 17, 1919; n o t e a r l i e r . STATMENT OF RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSI OF BUSINESS AUGUST 1 5 , I 9 I 9 . RESOURCES August I S . 1919 August 8 . 1919 Gold c o i n and c e r t i f i c a t e s $250,651,000 $ 2b2_,745,000 Gold Settlement f u n d - F-R« Board 591,206,000 618,636,000 Geld w i t h f o r e i g n a g e n c i e s T o ta l gold h e l d by banks SUl,S57,OCO 881,381,000 Gold w i t h F e d e r a l Reserve Agents 1,118,894,000 I,os4,o47,ooo Gold redemption f u n d 121.536.000 119.32g.000 T o t a l Gold Reserves $2,082,527,000 $2,084,756,000 Legal tender n o t e s , s i l v e r , e t c . 69.136.000 67.362.000 Total reserves 2,151,723,000 2 , 1 5 a , 118,000 (Secured by Gov't.war o b l i g a t i o n s 1,605/533,000 1,521,99^,000 B i l l s discounted (All other 220 j k j ,000 • 225,535,000 B i l l s bought i n open market 37U.37S.000 381.241^000 T o t a l b i l l s on hand 2,117,714,000 2.215,359,000 U, S* Government bonds 27,093,000 .... ^ 27,095,000 Uv. S. V i c t o r y n o t e s 274,000 , ago,000 U. S, c e r t i f i c a t e s of indebtedness 295,727,000 : 229,724,000 A l l o t h e r earning a s s e t s Total earning a s s e t s 2,440,813,000 2,472,458,000 Bank premises 11,806,000 11,so5,000 Gold i n t r a n s i t or i n custody i n f o r e i g n c o u n t r i e s gg,631*000 . 35,252,000 U n c o l l e c t e d items and o t h e r deductions from g r o s s d e p o s i t s 833,399,000 92s,030,000 708.043.000 793,301,000 5$ Redemption f u n d a g a i n s t F.R. bank n o t e s 11,313,000 10,503,000 All other resources 9.503.000 9.816.000 TOTAL RESOURCES 5,553,188,000 5,450,301,000 L I A B I L I T I E S Capital paid-in 84,400,000 83,807,000 Surplus 81,087,000 fO 81,057,000 Government d e p o s i t s 5'g, 564,000 108,686,000 Due t o members - r e s e r v e account 1,756,807,000 1 , 7 7 s , 3 6 5 , 0 0 0 . ?? D e f e r r e d a v a i l a b i l i t y items 670,54^)00 555 > 8 5 , 0 0 0 Other d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s 107 .882.000 109/210.000 T o t a l gross d e p o s i t s 2,616,704,000 2;, 523,860,000 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 2,540,904,000 2,532,057,000 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 209,709,000 205,318,000 A l l other l i a b i l i t i e s 20.354.000 19,172,000 TOTAL LIABILITIES 5,553,188,000 5,450,301,000 R a t i o of t o t a l r e s e r v e s to n e t d e p o s i t and F-R. n o t e * I n c l u d e s one y e a r l i a b i l i t i e s combined Treasury n o t e s . ** 5 0 . 4 ^ 50.9 $ R a t i o of gold r e s e r v e s to F-R. n o t e s i n c i r c u l a t i o n a f t e r •* Amended f i g u r e s . „ 6 l _ Q f 61.4 $ s e t t i n g a s i d e 35f° 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 St.54la August l 6 . 1915 $ 385,017,000 600,083,000 5.829.000 990,929,000 961,495,000 40,116.000 1,992,543,000 52,980.000 2,045,523,000 752,115,000 533,253,000 212,204,000 1,497,572,000 31,497,000 * 32,546,000 82,000 1,561,697,000 623,495,000 866,000 . 10,803.000 4,242,384,000 76,960,000 1,134,000 , 25,555,000 1,464,011,000 461,202,000 115.234.000 2,136,002,000 I,985>19,OOO 15,167,000 27.702,000 4,242,384,000 58.5 $ 7 6 . 3 *% a f o r p u b l i c a t i o n Sunday morning August 1%, 1919; not e a r l i e r . : ' WEEKLY. STATEMENT OF RESOURCES M ) LIABILITIES OF THE FEHERAL BESERVE BANKS AT CLOSE OF BUSINESS AUGUST 15, 1919, r e s o u r c e s ••• ' ais sa «;a s-s a . IS SS™ « fS jSj:g_Jg_gg (In thousands of d o l l a r s . ) Boston New York Phi l a . Clevel. Richa. A t l a n t a Chicago St.Louis Minn. Kans-Cy. Dallas San Fran, v ^ o t a l gold held by banks /Total-SQld. r e s e r v e s . 72,202 — 159,326 273,227 46,905 70,655 32, 842 21,587 117,705 34, 7i6 44,oo6 582,503 131,430 192,026 66,933 72,365 415,588 96,787 82,924 101,356 pisS g i l l s disco-anted: -•Secured by Government war obligations W — : i l l , 748 All . O t h e r . - , T— 8,433 Sills i n -open market (b)— Total b i l l s on hand 145,365 U. S. Government bonds * 539 U* S* Victory no t e s — — l4 U#5* / c e r t i f i c a t e s of indebtedness 21,4)6 Total earfliag a s s e t s iiari- p r . - u l s ; , Gold i n t r a n s i t or i n custody i n foreign countries 167,354 800 - 615,433 176,779 n o , 0 8 2 49,853 16,044 10,810 &I3—5^^513 776,94o 193,496 175,465 1,257 1,385 1,094 50 — — 76^644 2 ^ 805 13>359 89,631 ^•SESOURCES — - - - - - - — 214,339 73,583 ™:U lU 7*5 ^,526 841,857 33,715 147,634 2,082,587 ^ 2,vbh _ _ - 90,775 691 - 61,453 - - 90,750 402 - 6 3 , 4 4 9 1 6 2 , 2 9 1 2 , 4 4 0 , S13 308 . 400 11,806 - ~ , 9, 3 g a a .-a as a a a a ta 67,993 76,24) 33,729 98,114 51,030 13,714 68,362 33,617 3 2,334 838,399 408,125 1,798,333 428,538 460,286 253,964 213,412 840,778.245,155 163,624 262,396 134,327 344,24o 5,553,178 : !?). Includes bankers' acceptances JSE.booght f r a n o t h e r F.R.banks: t h e i r endorsement v'^ ?.Without t h e i r endorsement— - 6o, 701 . . iotai m . 78,939 72,794 158,584 53,513 27,496 35,326 32,362 4 9 , 9 3 6 1 , 5 2 2 , 9 9 2 12,585 l 4 , 6 4 i 24,576 9,224 3,548 33,719 20,150 16,764 220,347 lj±13 5j±2-2— %S2J—223-44— I . ^7 ,115 7 98,997 92,Sb7 233,103 72,554 53,688 69,068 53,183 152,988 2,117,714 7,098 1,234 376 4,477 1,153 116 8, 868 3,966 2,633 •* 6 — — 204 — ~^ «. 3.Jk35.—-11,479—Sl^£l2—17»,Q$5— 7 , % 5 — 1 2 . ^ 6 . 1 4 — — . 6 # b X Q 8 5 4 , 8 9 1 2 2 0 , 6 8 6 1 9 6 , 5 1 s 108,726 104, 728 3 1 9 . 1 9 2 3,994 500 875 437 463 2,936 5Ex==:: -a »s 70,341 St.541b - - - . 10,012 - - - " - 39,97/15,000 - . ~ 16,463 - - ~ - ~ - - - ~ 32,508 ,433 ~ 42,520 Released f c r p u b l i c a t i o n Sunday morning, August 17, 1919; n o t e a r l i e r . ato^c WEEKLY STATEMENT OP RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 15, 1919* (In thousands of d o l l a r s - ) L I A B I L I T I E S Boston New York Phi l a - C l e v e l . Richn. 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 . T o t a l Capital paid-in 6,537 22,013 7,65.5 9,336 U,22lt 3,278 11,901 3,943 3,023 3,809 3,299 4,982 sU.Uoo 3 p| I'M ^ j'M ^ I:p | | j:g ».&* s i - S S r S m E i l i s S311 IS IS IIIIII IS-tl" l\% i t s " " — - - - "IKL7955—^77f74TZI748'r^5T0-r3^5r_ffi^IB-3"5H^"lT57r^^3T277"lT5r761—72,9"E K 5 T 7 # % 5 E 7 W 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 191,077 F.R* bank n o t e s i n c i r c u l a t i o n - net l i a b i l i t y All other l i a b i l i t i e s — TOTAL LIABILITIES 21,376. 1.592 7^8, l66 208,136 222 , 903 104,489 115,7^2 4 2 9 , l 4 o 106,387 *+0,453 24,515 .18,223 7-.305 1.434 1.4o4 7,687 913 10,605 31, 53b 764 2.246 16^05 Ag 77,582 92,356 6, 830 15,395 586 1,118 46,585 198,3^1 2,5^-0,904 , 8, 702 8Q0 . 8 . 0 7 6 , .293,709 1,480 20,384 4-08,125 1,798,333 428,538 460, 296 253,964 213,412 840,778 245,155 163,624 262,396 13^,327 3 ^ , 2 4 o 5 , 5 5 3 , 1 8 8 MEMO R A N D A Contingent l i a b i l i t y .as endorser on Discounted paper r e d i s c o u n t e d w i t h o t h e r F e d e r a l Reserve banks — Bankers 1 a c c e p t a n c e s s o l d to o t h e r F . R* banks —————— — 17,970 - 50,000 - - - - - 3,^63 71,^33 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F . R. n o t e s o u t s t a n d i n g F. R. n o t e s h e l d by bank 200,058 8,981 822,123 217,150 234,364 108,601 120,229 4 5 g , 2 4 2 123,595 73,957 9,01% l l , 4 6 l 4,112 4,487 29,102 17,208 SO,l64 2,582 98,557 6,201 5 0 , 4 l 7 220 75^ 2 , 7 3 ^ , 2 5 4 -3,832 2 2 , 4 1 ] 193,3)0 F*R,notes i n a c t u a l c i r c u l a t i o n 151,077 7^8,l66 208,136 222,903 104,429 115,7^2 4 2 9 , l 4 o 106,387 77,582 92,356 46,585 198,3^1 2 , 5 ^ 0 , 9 0 4 B i l l s discounted B i l l s bought i n open market U-iS. c e r t i f i c a t e s of indebtedness DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES. Within 15 days l6 t o 30 days 3 1 t o 60 days 6 l t o 90 days 1,439,073 63,535 99,24l 129,709 ^3,764 87,5^9 154,529 38,533 87^338 6,l46 _ 23,497 23,606 Over 90 days 11,781 ~ 155, l4o Total 1,7^3,339 374,375 295, 727 Bvleased f o r p u b l i c a t i o n Sunday morning, August 17, 191$; n o t e a r l i e r . Stolid. STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS AUGUST 15, 1919* (In thousands bf d o l l a r s . ) FEDERAL RESERVE NOTES: litiubivsd frcrn Comptroller Boston Phila- Clevel. Richm- 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 . 227,078 I11 hands of F . R. Agent - - - - - 27,020 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 r e demption 200,058 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 - 742,657 183.250 120.836 96,962 4q,356 61,983 3 7.513 81,906 1,831,709 67,247 227,95% 3,1%1,071 133,600 18,4l0 l6,S6o 11,380 16,830 822,123 217,150 234,364 108,601 120,229 458,242 123,595 80,164 98,557 50,417 220,754 2,73%,25% 183,740 13,052 - 32,380 - 28,380 18,125 31,117 - 10,647 12,853 12,971 1,305 Gold S e t t l e m e n t f u n d , F-R»Board - 58,000 90,000 58,889 90,000 E l i g i b l e p a p e r , minim vm r e q u i r e d - 126,287 537.736 l45.408 113.268 200,058 80,115 97,024 109,937 15,771 AMOUNT OF ELIGIBLE PAPER DELIVERED TO P . R, AGENT 145,365 6 2 . 9 7 1 187.518 955,723 2^9,530 262, 744 139,718 120,029 482,082 142,005 Gold redemption f u n d Total Total 362,720 1,698,380 '432,780 383,580 236,680 243,000 669,600 222,120 137,380 171,920 104,760 309,Sb0 4,972,780 Returned to Comptroller - - = - - 1 ^ , 6 4 2 Chargeable to F . E . Agent New York 59,800 2,500 - - 9,831 7,200 - 406,817 . 227,248 8,562 2,960 966 2,980 2,483 12,855 87,962 2b,500 38,000 252,985 53,930 20,800 30,36b -4,184 80,036 803,684 80.796 76.120 196,695 66,705 45,346 65,217 33,919 127,863 1,615,3^0 822,123217,150234,364108,601120,229458,242123,595 80,164 98,557 5 0 , 4 l 7 220,75% 2, 73%, 25% 776,g4o 156,955 173,9%% 51,765 69,068 53,183 81,831 3,609 23,840 87,419 233,o4o 72,338 135,605 2,037,453
@FedFRASER