The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Released f o r p u b l i c a t i o n Sunday morning F e b . l S , 19^-9 > n o ^ e a r l i e r * STATEMENT %R THE PRESS . St-210 February 1$; 1Q19' Continued i n c r e a s e s in t h e h o l d i n g s of war paper i n connection vdt..i the p l a c i n g of the b t h i s s u e of Treasury c e r t i f i c a t e s , a c c o m p a n i e d by c o n s i d e r a b l e i n c r e a s e s i n Government and n e t d e p o s i t s and a s u b s t a n t i a l g a i n in gold r e s e r v e s a r e i n d i c a t e d i n 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 F r i d a y , February l 4 ? 1919 # For the f i r s t time t h e volume of war p a p e r h e l d by t h e Reserve banks i s shown i n e x c e s s of 1,600 m i l l i o n s with an i n c r e a s e f o r t h e week of 151 e 9 millions. Other d i s c o u n t s f e l l o f f 9 ^ b u l l i o n s and a c c e p t a n c e s bought i n open market - 7 . 6 m i l l i o n s , while Government s h o r t - t e r m s e c u r i t i e s , i . e . , Treasury c e r t i f i c a t e s , i n c r e a s e d 1*7 m i l l i o n s . Government d e p o s i t s show an i n c r e a s e f o r the week of 96 ^ m i l l i o n s which a c c o u n t s i n p a r t f o r t h e l a r g e borrowings by t h e member banks ~ members r r e s e r v e d e p o s i t s went up 3^*7 m i l l i o n s and n e t d e p o s i t s - 130*5 m i l l i o n s , or only s l i g h t l y l e s s than t h e i n c r e a s e i n t o t a l e a r n i n g a s s e t s . The week saw i n c r e a s e s of l 4 »2 m i l l i o n s i n F e d e r a l Reserve n o t e c i r c u l a t i o n , and of 1 m i l l i o n in t h e a g g r e g a t e l i a b i l i t i e s of t h e banks on Fede r a l Reserve bank n o t e s in c i r c u l a t i o n . This t o g e t h e r w i t h t h e much l a r g e r i n c r e a s e i n n e t d e p o s i t s a c c o u n t s f o r a d e c l i n e of t h e banks 1 r e s e r v e p e r centage from 53*5 to 51 *9 p e r c e n t , n o t w i t h s t a n d i n g a g a i n of 11-2 m i l l i o n s i n gold and of 9-7 m i l l i o n s i n t o t a l cash r e s e r v e s » St-210 . c . o , S ^ - h y m i n i n g February 16, 1919; n e t e a r l i e : MllS AT CLOSE OF BUSINESS FEBRUARY l 4 , I919. ;debal eeseeve OF CGzlBliiED ESSOUriCES AInD LIABILITIES OF THE TWELVE K February 7, 1919 February 1.5, 1918 February l4, 1919 E E S 0 U P. C S S $342,605,000 $446,378,000 347,764,000 Gold c o i n and c e r t i f i c a t e s 419,050,000 386,966,000 437 , 272,000 QcId Settlement Fond - F.E.Board 5.829.000 52.500,000 5,829,000 GvId w i t h f o r e i g n a g e n c i e s 773,484,000 885,844,000 790,871,000 T o t a l gold h e l d by oanks 1,231,166,000 8^2,375,000 1,217,363,000 Cold vrlth F e d e r a l Esserve Agents 103.533.000 20,323,000 111,113,000 Gold 3ademotion Fund 2,108,183,000 1,752,5^2,000 2,119,3^7,000 T o t a l gold r e s e r v e s 67.431.000 60,194.000 65,971,000 Legal tender n o t e s , s i l v e r , e t c . 2,175,614,000 1,818,736,000 2,185,318,000 Total reserves 1,451,147,000 249,603,000 1,603,052,000 B i l l s d i s c o u n t e d : Secured by G o v ' t , war o b l i g a t i o n s 243,254,000 252,313,000 233,84s,000 All other 222.702.000 287.263.000 275,068,000 B i l l s bought i n open market 1,977,103,000 729,179,000 , vvv 000 2,111 t T o t a l b i l j s on hand 28,250,000 52,3^3,000 28,101,000 U.S.Government long-term s e c u r i t i e s 139,501,000 105,981,000 141,204,000 U.S.Government s h o r t - t e r n s e c u r i t i e s 4,000 4,486.000 4,000 All ether earring a s s e t s 2,144,858,000 951,929,000 2,281,278,000 Total earning a s s e t s 8,672,000 8,967,000 Bank p r e m i s e s U n c o l l e c t e d items end other d e d u c t i o n s frcta g r o s s 624,261,000 374,327,000 701,4^5,000 deposits 6,222,000 537,000 6, S42, 000 5f0 Redemption Fund a g a i n s t F . E . bank n o t e s 9.782.000 582. 000 10,658,000 A l l other resources 4,970,615,000 3,146,171,000 5,194,528,000 TOTAL RESOURCES L I A B I L I T I E S 81,061,000 73,229,000 81,211,000 Capital paid-in 22,733,000 1,134,000 22,73S,000 Surplus 96,809,000 87,643,000 192,970,000 Government d e p o s i t s 1,590,441,000 1,409,71^,000 1,623,158,000 Due to members - Be serve account 439,221,000 228,289,000 . 517,726,000 D e f e r r e d a v a i l a b i l i t y items 112.551.000 52.315,000 112,273,000 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 g o v ' t . c r e d i t s 2,239,1*22,000 1,777,961,000 2,446,127,000 T o t a l gross d e p o s i t s 2 , 4 5 4 , 1 6 5 , 000 1,281,045,000 2,468,388,000 F,R. notes i n actual c i r c u l a t i o n 131,315,000 7,999,000 132,291,000 F . E , 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 42.314. COO 4,803.000 43,773,000 A l l other l i a b i l i t i e s 4,970,615,000 3,146,171,000 5 7 # , 528,000 . TOTAL LIABILITIES 67 B a t i o of t o t a l r e s e r v e s t o n e t deposit» and jj.R. 53.0$ 51.9$ n o t e l i a b i l i t i e s combined R a t i o of gold r e s e r v e s to F . E . n o t e s i n c i r c u l a t i o n 65 - Sfo 63 .8$ aa ff tt #® s e t t i n g a s i d e 35$ a g a i n s t n e t d e p o s i t l x a o i l i t i Released f c r p u b l i c a t i o n Sunday morning February 16, i g i g ; not e a r l i e r . St.210b WiSEZLY S'lATSOvT 07 BE SOURCES .WD LIABILITIES 07 EACH OF THE FEDERAL EE SERVE DISKS.,AT CLOSE OF BUSINESS FEBRUARY l 4 , I919. ( i n thousands of d o l l a r s . ) Boston New York P h i l a . Clave1. 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 Fran. Total RESOURCES 3,U36 261,630 1U5 21,172 2,311 8,252 22,560 4,244 8,296 162 5,946 3,550 347,764 Gold, coin and c e r t i f i c a t e s 41,673 21,300 44,815; ' 58,013 20,088 15,9^9 120,662 29,082 22,589 31,996 7,993 23,118 437,278 Gold Settlement- Fund - F-R.Board 204 321 5,829 408 2,011 408 525 204 175 816 233 233 291 Gold w i t h f o r e i g n a g e n c i e s "W517 285,001 45,368 79,710 22,603 24,376 144,038 33,559 31,US 32,449 14,143 32,989 790,871 T o t a l gold h e l d by banks 51,343 258,669 72,702 130,996 50,246 41,243 299,327 70,475 55,918 48,797 20,540 117,107 1,217,363 Gold w i t h F e d e r a l Reserve Agents 12,424 25.000 14,301 2.570 6.634 4,378 24.397 3.523 4.108 5.704 2,208 5,866 m . 1 1 3 Gold Redemption Fund 109,284 568,670 132,371 213,276 79,483 69,997 467,762 107,557 91,144 86,950 36,891 155,962 2,119,347 T o t a l gold r e s e r v e s j4o 65,971 160 277 1.822 L§49 ,5!,657 299 1.351 23 1 878 , 1,3 96 2,311 Legal tender n o t e s , s i l v e r , e t c . 2,185,318 156,302 87 , 227 38,713 "1^533 620,327 132,670 214,627 79,714 70,875 469,158 109,868 91,304 Total r e s e r v e s B i l l s } Sec.by Gov't .war O b l i g a t i o n s 146,403 731,071 177,622 97,060 81,019 58,542 131,878 43,025 15,999 33,000 21,393 66,o4o 1,603,052 233,849 51,449 14,291 6,745 12,008 17,929 20,812 7,279 1,337 39,363 32,099 22,619 7,318 Di3ctd)All other 215,068 12.242 11.213 2,2l4_ _6l,Z50_ JjdS- A 5 5 Q - J4*XQ9_ 15,268 _26^5%0_ 2.535. h i l l s bought i n open market 54,927 126,010 2,111,969 56,087 T o t a l b i l l s on hand 164,934 837,447 194,187 165,555 100,646 85,021 187,399 65,572 44,506 84,605 28,101 U . S . G o v ' t , long-term s e c u r i t i e s 538 1,393 1,385 1,084 1,234 378 4,510 1,154 119 8,868 3,970 3,468 l 4 i , 204 U.S.Gov't.short-term securities io,4i6 48,033 11,280 11,066 5,299 6,964 16,612 7,068 9,300 5,4l6 4,399 5,351 4 All other earning a s s e t s . Total earning a s s e t s 175,888 886,873 206,852 177,705 107,179 92,367 208,521 73,794 53,925 98,889 64,45b 134,829 2,281,278 4oo 221 4oo 8,967 Bank p r e m i s e s 800 2,658 500 295 217 2,936 540 U n c o l l e c t e d i t e m s and other ded u c t i o n s from g r o s s d e p o s i t s 53,671 199,761 78,876 49,018 44,083 31,598 72,470 43,328 16,973 49,975 19,666 37,046 701,465 5fo Redemption Fund a g a i n s t F.R. 6,842 298 bank n o t e s 244 511 1,833 904 364 534 575 748 10,623 1.110 All otner resources J O I 2,948 4 # -3-33: -3-92 350,736 1,714;nob 420,471443,309 232,014 196,12s 755,099 228,275 162,579 237,536 124,102 329,879 5,194,528 TOTAL RESOURCES L I A B I L I T I E S 81,211 Cap i t a l p a i d- i n 6,773 20,925 7,473 9,204 4,o64 3,7-96 11,295 3,801 2,948 3,659 3,194 4,67 22,738 726 1,211 592 1,22' 801 1,535 8,322 1,304 1,776 1,156 775 3,3l6 Surplus 27,920 43,132 18,950 19,155 5,121 7,599 25,892 11,100 8,023 10,020 3,756 12,302 192,970 Government d e p o s i t s 98,880 673,336 98,697 130,188 53,256 45,517 224,556 59,501 48,033 72,094 38,105 80,995 1,623,158 Due to members - Reserve account 45,084 147,206 65,533 35,852 30,64s 20,407 57,517 35,573 7,626 32,026 17,752 22,502 517,726 D e f e r r e d a v a i l a b i l i t y items All other deposits, including 190 346 73 6,091 112,273 218 64 1,517 101.583 L P n 251 J6_ f o r e i g n government c r e d i t s _E51 63,872 114,486 59,6s6 121,890 2,446,127 173,401 965,257 184,191 185,446 89,101 73,587 3 08,818 106,392 Total gross deposits 89,051 103,467 53,239 193,515 2,468,388 155,884 664,613 214,301 233,874 130,958 110,320 409,884 109,282 F-R.notes in actual c i r c u l a t i o n F.R. bank n o t e s i n c i r c u l a t i o n 9,577 36,524 10,670 10,102 4,965 6,878 17,281 6,606 4,872 12,516 6,007 6,293 132,291 net l i a b i l i t y 43,773 3,566 18,759 2,532 2,9P7_.. l,7J0 1,3.72.,4,505 „ _ i , m 1,110 2,197 1,384 2,27 s All c i ^ r l i a b i l i t i e s 162,579 237,536~ 12T102 329,879 5,134,528 350,736 i,7l4,4oo 420,471 %3,309 232,014 196,128 755,099 228,275 TOSAL LIABILITIES ill .iuO C p u b l i c a t i o n Sunday morning February 16, I9I9; n o t e a r l i e r . St.210c STATH/ENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS FEBRUARY l 4 , I 9 I 9 . ( i n thousands of d o l l a r s . ) FEDERAL RESERVE NOTES: Received from Comptroller Re t u r n e d to Comptroller Chargeable to F.R.Agent In hands of F.R.Agent 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 redemption Boston New York p h i l a . C l e v e l . Richm. A t l a n t a Chicago St.Lords Minn. ICans .Cy. D a l l a s San Fran. T o t a l 254,560 1,326,620 330,420 327,sUo 202,820 200,560 559,UUo 164,540 124,480 157,700 101,960 250,520 4,001, 520 70.070 388,920 85,290 4 7 , 0 8 1 45,84q 31. g4l 71,698 36.53 1 22.456 33,6l6 2 4 , 2 2 1 25.689 883.253 184,490 24,380 937,760 245,130 280,759 156,980 168,719 487,742 128,009 102,024 124,084 77,73 9 224,831 3,118,267 158,000 23,045 30,265 22,405 53,945 48,280 7 , 4 l 5 11,700 l4,020 23,110 11,000 427,5c 5 160,110 779,760 222,085 250,494 134,575 114,774 439,462 120,594 90,324 110,064 54,629 213,831 2,690,702 OUTSTANDING- NOTES: Gold coin and c e r t i f i c a t e s on hand Gold Redemption Fund Gold Settlement Fund - F.R. Board E l i g i b l e paper, minimum r e q u i r e d Total 173,740 42,000 108.767 150,110 23,270 2,504 13,052 12,581 225,147 15,813 12,726 2,246 2,469 6,382 2,544 1,866 2,437 2,775 10,228 83,758 70,000 56,889 95,000 4s,000 36,270 292,945 67,931 41,000 46,360 5,184 106,879 90s,458 521,091 149.323 119.498 84.329 7 3 . 5 5 1 l4o. 135 50.1-19 34.4q6 61.267 34.089 96.724 1.473.339 779,760 222,085 250,494 134,575 114,774 439,462 120,594 90,324 110,064 54,629 213,831 2,690,702 AHCUITT OF EUGI3IF PAPER DELIVERED TO F . R. AGENT 164,934 837,447 151,538 164,772 98,455 76,396 9,343 14,929 187,399 6 5,57 2 84,605 56,087 106,317 2,037,506 43,984 MEMORANDA FEDERAL RESERVE NOTES OUTSTANDING- AND IN ACTUAL CIRCULATION F . R. Notes o u t s t a n d i n g F. R. Notes h e l d by bank 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 160,110 \ 226 155,884 779,760 222,085 250,494 134,575 114,774 439,462 120,594 90,324 110,064 54,629 213,831 2,690,702 115.147 7.784 16.620 3.617 4.454 29.578 11.312 1.273 6. 597 1,390 20,316 222,314 664,613 214,301 233,874 130,958 110,320 409,884 109,282 89,051 103,467 53,239 193,515 2,468,388 DISTRIBUTION OF BILLS, U.S.GOVERNMENT SHORT-TERM SECURITIES AND ITARRilTTS BY MATURITIES. B i l l s discounted B i l l s bought i n open market TT.ELGov*t. s h o r t - t e r m s e c u r i t i e s ^ T/Tunicipal w a r r a n t s Within 15 days 1,450,476 22,689 7,869 16 t o 30 davs 57,683 63,84s 724 3 1 t o 60 days 87,037 103,967 13 2 6 l t o 90 days 218,152 24,564 217 Over 90 days 23,503 132,264 Total 1,836,901 275,068 l 4 i , 204 4
@FedFRASER