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STATEMENT FOB THE PRESS. Released f o r p u b l i c a t i o n F e d e r a l Reserve Board Sunday n a m i n g , August 24; August 23, 1919 • 1919; not e a r l i e r f CONDITION OF FEDEPA1 RESERVE BANKS« S u b s t a n t i a l r e d u c t i o n s in r e s e r v e d e p o s i t s , t o g e t h e r w i t h a c o n s i d e r a b l e i n c r e a s e in t h e h o l d i n g s of war p a p e r , a r e i n d i c a t e d in t h e F e d e r a l Reserve Board's weekly bank statement i s s u e d a s a t c l o s e of b u s i n e s s on August 22, 1919• During t h e week the war paper h o l d i n g s of t h e Reserve banks i n c r e a s e d by 40 ,1 m i l l i o n s , while o t h e r d i s c o u n t s on hand d e c l i n e d 9 *1 m i l l i o n s . Acceptance h o l d i n g s , owing to t h e renewed demand f o r t h i s c l a s s of paper by banks a l l over t h e c o u n t r y , f e l l o f f 11 .5 m i l l i o n s . Holdings of war paper by t h e Chicago, S t . Louis and Minneapolis banks i n c l u d e 69 m i l l i o n s of war paper discounted f o r o t h e r Federal Reserve banks, a s a g a i n s t ^ 1 , 4 m i l l i o n s the week b e f o r e , and acceptance h o l d i n g s of t h e Cleveland and San F r a n c i s c o banks " a r e i n c l u s i v e of 41 .4 m i l l i o n s ( a s a g a i n s t 42*5 m i l l i o n s ) a c q u i r e d f r o m o t h e r Reserve banks, Redemption by t h e Government of temporary 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 , i s s u e d to ' the week b e f o r e the Kew York and Chicago banks, a c c o u n t s f o r t h e c o n s i d e r a b l e decrease under t h i s h e a d . Aggregate earning a s s e t s show a d e c l i n e f o r t h e week of 33.4 m i l l i o n s , C-overnment d e p o s i t s i n c r e a s e d 44 .7 m i l l i o n s , r e s e r v e d e p o s i t s d e c l i n e d 9° <5 m i l l i o n s , l a r g e l y a t t h e New York Bank, and 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 decreased 11.1 m i l l i o n s . l e s s than the week b e f o r e , Neo d e p o s i t s work out 67»5 m i l l i o n s F e d e r a l Reserve n o t e c i r c u l a t i o n i n c r e a s e d 12.6 millions, while the Reserve banks' a g g r e g a t e n e t l i a b i l i t i e s on account of Federal Reserve b a n k n o t e c i r c u l a t i o n i s given a s 215.8 m i l l i o n s , or 6 . 1 m i l l i o n s more than the week b e f o r e . Export withdrawals of g o l d were p a r t l y o f f s e t by :;old d e p o s i t s and account f o r a d e c l i n e of o , 3 - m i l l i o n s i n t h e g o l d r e s e r v e s , d e c l i n e d about 9 m i l l i o n s . Total cash r e s e r v e s The banks' r e s e r v e r.:.vio, l a r g e l y because of the reduction i n d e p o s i t L i a b i l i t i e s , shows a r i s e f r o - > ,9 to )1 O P e r Cent ' •St»5o0a Be l e a s e d f o r p u b l i c a t i o n Sunday morning August 24, I9I9; not e a r l i e r . TWELVE FEDERAL RESERVE BAHKS AT CLOSE OF BUSINESS AIKSJST 22, 1919' STATEMENT OF COLtBIHED RESOUREES AHD LIABILITIES OF TEE August 23, 1918 August 15, 1919 August 22, 1919 RESOURCES $250,651,000 $260,507,000 Gold coin and c e r t i f i c a t e s 5 5 } 060,000 591,206,000 579,480,000 Gold settlement fund - F. R» Board 5,829.000 Gold with foreign agencies 943,961,000 841,857,000 839,927,000 Total gold h e l d ty banks 1,018,767,000 1,118,894,000 1,127,028,000 Gold w i t h Federal Reserve Agents 40.323.000 121.836.000 107.270.000 Gold redemption fund $2,082,587,000 2,00} 051,000 $2,07%,285,000 Total g o l d r e s e r v e s 6a. 136.000 52,215,000 68.416.000 l e g a l tender n o t e s , s i l v e r , e t c . 2,151,723,000 2,055,2b6,000 2,142,701,000 Total reserves 853,508,000 1,522,992,000 1,563,048,000 (Secured ty Gov*t. war o b l i g a t i o n s B i l l s discounted ( A U o t h e r 540,247,000 220,347,000 211,262,000 - 236,565,000 374,375,000 362,911„oqo B i l l s bought i n open market 2 , 1 1 7 , 7 1 4 , 0 0 0 1,630,321,000 2,137,221,000 Total b i l l s on hand 27,098,000 30,624,000 27,098,000 U. S. Government bonds 274,000 209,000 U. S. Victory n o t e s 295,727,000 * 2 3 ^ 9 , 0 0 0 237,847,000 U. S. C e r t i f i c a t e s of indebtedness 62.000 A l l other earning a s s e t s 2,4%), 813,000 1,684,486,000 2,402,375,000 Total earning a s s e t s 11,806,000 11,806,000 Bank premises 89,631,000 102,7^8,000 Gold i n t r a n s i t or i n custody in f o r e i g i countries 928,030,000 601,983,000 838,399,000 763.179.000 865,927,000 t&icollected items and other deductions frcm gross deposits 958,000 11,313,000 11,382,000 5^ Redemption fund against F» R» bank notes 11.294.000 9.503.000 ,,9,905,000 A l l other resources 5,553,188,000 4,353,987,000 5,444,096,000 TOTAL RESOURCES L I A B I L I T I E S 84,4oo,ooo 77,750,000 84,730,000 Capital p a i d - i n 81,087,000 1,134,000 81,087,000 Surplus 173,027,000 ** 58,590,000 103,330,000 Government deposits 1,459,480,000 1,778,365,000 1,679,83%,000 Due to members — reserve account 450,947,000 ** 670,539,000 605,812,000 Deferred a v a i l a b i l i t y items 112.597.000 log.210.000 qg.D98.000 Other deposits, including foreign Gov't, c r e d i t s . 2,616,704,000 2,196,051,000 2,487,074,000 Total gross deposits 2,5%), 904,000 2,032,837,000 2,553,534,000 F- S . n o t e s i n actual c i r c u l a t i o n 209,709,000 16,864,000 215,795,000 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 20.384.000 . 29,351,000 21.876,000 A l l other l i a b i l i t i e s 5,553,138,000 4 , 3 5 3 , 9 8 7 , 0 0 0 5,444,096,000 TOTAL LIABILITIES • I n c l u d e s one year Ratio of t o t a l reserves t o net deposit and F. R« note 50.0 56.7# Treasury notes 51.3$ l i a b i l i t i e s combined Ratio 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 61.4$ 73.7^ ** Amended f i g u r e s 61.7$ s e t t i n g aside 35/* a g a i n s t n e t deposit l i a b i l i t i e s > Released f o r p u b l i c a t i o n Sunday morning August 24, I919; n o t e a r l i e r . • - •• WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 22,-1919St.SouL, RESOURCES (In tlionsancis of dollai^s.) Boston New York Phi l a - Clevel* Bichm* A t l a n t a Chicago S t . L o u i s Minn- Kans vCv. Dallas San Frarv B i l l s discounted: : • .aiellliin 3i! SI; -as la T o t a l b i l l s on hand U* S. Government "bonds — !?3S U* S* Victory n o t e s 1^ U . S . c e r t i f i c a t e s of indebtedness 21.4)6 Total earning a s s e t s 173,^25 Bank premises 800 Gold i n t r a n s i t or i n custody i n foreign countries U n c o l l e c t e d items and o t h e r deduct ions from g r o s s d e p o s i t s — 59,291 * 5% Redemption f u n d a g a i n s t F- R. banknotes 1.0J2 A l l other resources 241 TOTAL RESOURCES 772,182 198,289 157,951 95,070 96,402 254,157 l* 2j7 1, 3^5 1>09^ 1 , 3 7 6 ^,^77 50 ~ 5 ™ 65.170 25.902 21,923 8,495 11.979 3 2 . 6 l 2 838,659 225,576 180,968 104,799 108,762 291,286 3,99^ 500 875 %7 463 2,936 78,053 1^53 ~ 17.068 96,2?4 691 55,695 64,980 ll6 Sr8bS 140 — Z,ji5S—12,772 63,401 86,620 ^02 59,371 153,095 ^ 137,22a 3,9^6 2,633 27,09 ~ s r 9.300 o. JkO §37>•& 1 70,137 162,466 2,402,375 308 400 11,80b , 102,748 102,7^-8 18b, 5^3 71*669 66,83 6 62,417 29,454 85,299 ^7,776 15,970 67,53.9 28,823 41,562 2,249 2,306 1,293 752 96b 997 448 1,052 579 12A 1,799 1,547 S4o 609 37^ .S3 852 5^3 4b0 ^6 450 §50 763,179 11,382 9*-9Q5_ 4o2,673 1,742,769 427,776 452,991 234,881 209,015 831,021 243,204 161,294 254,939.136,719 3 ^ 6 , 8 1 4 5 , 4 4 4 , 0 9 6 (a) I n c l u d e s b i l l s d i s c o u n t e d f o r o t h e r F.R- banks, v i z - - (b) Includes b a n k e r s ' acceptances bought from o t h e r F-R>. banks: %Lth t h e i r endorsement — Without t h e i r endorsement - S2 II IS S§ *1 11 " - - - 5,484 - 38,990 - - - - 15,000 - 15,000 - - - " - - ~ - 35,879 68,990 . " , ^l,3o3 B s l e a s a d f o r p u b l i c a t i o n Sunday morning August 24, 1919; not e a r l i e r . St.^'oUc WEEKLY STATELIEST OF RESOURCES /2H> LIABILITIES OF THE EEBERAL RESERVE BANKS AT CLOSE OF BUSINESS AUGUST 22, 19.19(In thousands of d o l l a r s . ) L I A B I L I T I E S Boston Now York Phi l a . Cleve 1. Richm- A t l a n t a Chicago S t . Louis A inn- Kan s - Cv- © a l i a s San IV ar» T o t a l I l l l l i l I I I 1 111 I I 1 1 1 I ' l l * 1 : . s i T o t a l gross d e p o s i t s 6 , 171,739 a 6 A P. P- „ , t * i n a c t u a l c i r c u l a t i o n 195,600 F> l A t ^rk n o t e s i n c i r c u l a t i o n - TOTAL LIABILITIES 7 0 2 3,797 388,0)8 179,5% 192,046 113,492 ^ ^ ^ ^ ^ 77,967 339,165 115,100 -71,150 136,951 2 i:°% *'S% 749,975 208,527 225,448 104,455 112,991 4)4,786 106,260 ., i6 -ii 77,231 . 92,966 r 74,942 128,965 2,487,074 ^ ^ v.& 46,807 198,488 2 , 5 5 3 , # _ nt - 402,673 i , 742,769 427,776 452,991 234, SSI 209,015 531,021 243,204 161,294 254,939 136,719 346, Si4 5,444,096 ME MO S J J D A Contingent l i a b i l i t y as endorser on Discounted paper r s d i s c o u n t o d w i t h o t h e r F. R • banks Bankers 1 a c c e p t a n c e s s o l d to o t n e r F.R. banks I: lo,99® - - 2,uOO ~ Q i990 9 % F . R - n o t e s in a c t u a l c i r c u l a t i o n 195,600 5^*000 EEDSEAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. %:::: B i l l s discounted BilJis bought i n open market U-S. c e r t i f i c a t e s of indebtedness - 749,975 205,527 225,44s 104,455 112,991 434,7S6 106,260 Within 15 d ^ s 1 4gg Xl4 ' 94] 9I5 22,839 % 77,231 ';g 92,966 46,207 1 9 s , 4 s s 2,553 ; 534 DISTRIBUTION OF BILLS AND U, S- CERTIFICATES OF INDEBTEDNESS BY MATURITIES. l 6 to 30 days 31 to oO days 6 l to 90 days <Srer' 90 days Total 47,316 l44,035 ^4,993 9,652 "'"'IIo'ot"? 72,696 l45,246 ^9'9^ ~ f 11,75)1 13>&75 2^o0d 152,77^ o77° 7 Released, f o r p u b l i c a t i o n Sunday morning, August 24, 1919; n o t e a r l i e r . St.560& STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS AUGUST 22, 1919. ( i n thousands of d o l l a r s -) Boston New York Phi l a . Clave 1. Richrav A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy, Dallas San Fran, % ) t a l , f** r ) 6 9 , ) 2 0 1,717,420 4 ) 2 , 7 % )3&r5€o 236,080 244,000 6SC,S40 224,120 137,3% 172,720 105, l60 ) 1 2 , 0 6 0 5,O19,W0- FEDERAL RESERVE NOTES: Received from Comptroller ;d .to Comptroller 139,161 753,452 186,427 124,271 95,9^ 65,074 194,24] 83,115 C h a r g e Die to F." R . Agent 230,159 96), 96s 246,353 2 6 l r % 137,756 175,926 486,597 141,005 40,913 63,203 38,522 96,457 109,517 66,63s 226,455 3,1467*55- 16,710 l6,)60 9,860 17,120 828,968 216,973 237,569 109,282 118,316 462,157 124,295 80,107 99,657 18), 740 13,052 - 3~bo0 In hands of F . R- Agent 28,020 I s s u e d to F,R; bank l e s s amount r e t u r n e d to F . R . Agent f o r r e .en - - - - - - - - - - - 202,139 85,6071,572,902 1)5,000 29,380 2^29 28,478 60,6l0 24,44o $.27 & r 6,700 393y^9& 4-9,518 219,75) 2,748,740 COLLATERAL SECURITY FOR OUTSTANDING Gold coin and c e r t i f i c a t e s on hand - - - 18,125 - Gold redemption f u n d - - - - - - - 12,252 19,539 19,677 12,537 1,352 Gold s e t t l e m e n t f u n d - F-R. Board - 58,000 £0,000 57,889 90,000 S4S,68Q l7iQ1 407 116,107 E l i g i b l e paper, minimum r e q u i r e d Total - 1)1,887 202,1)9 AmOUHT OF ELIGIBLE PAPER DELIVERED TO F . R. AGENT 151,4)6 2,500 4,506 - - - 0\lr, 2^6, 24g 8,8)7 1»960 2,409 3»T60 2,4%) 15,048 104,350 24,500 37,000 256,625 51,931 18,800 )7,)60 5,124 79»l4l 796,4)0 83,4^6 74, 310 . 196,..6^5 7Q*4Q4 £4o 828,958 216,97) 2)7,559 109,288 118,316 462,157 124,295 80,107 771,993 l 4 l , 7 2 4 156,981 3,8)1 91,111 88,819 2)4,188 76,329 50,90s )8,5)7—33|O^P. l,6claJ12 99,557 49,51s 219,753 2,748,740 64,980 59,571 1^0,925 2,059,265
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