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R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g June 8, 1919; n o t e a r l i e r . St .423 STATEtvIENT FOR THE PRESSJ u n e 7 , I919• Aggregate r e d u c t i o n s of 1 8 1 . 9 sail l i o n s i n war p a p e r h o l d i n g s , i n conn e c t i o n w i t h t h e r e d e m p t i o n of T r e a s u r y c e r t i f i c a t e s due J m e 3,a-re i n d i c a t e d i n t h e F e d e r a l R e s e r v e B o a r d ' s weekly "bank s t a t e m e n t 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 J u n e 6 , 193-9« Other d i s c o u n t s on hand i n c r e a s e d j> .6 m i l l i o n s , and a c c e p t a n c e h o l d i n g s 1U.7 m i l l i o n s , War p a p e r h e l d u n d e r r e d i s c o u n t f o r o t h e r F e d e r a l Reserve b a n k s i n c r e a s e d from 112 *9 t o 1 1 5 . 2 m i l l i o n s , w u i l e s i m i l a r h o l d i n g s of a c c e p t a n c e s i.e. bank a c c e p t a n c e s p u r c h a s e d f r o m o t h e r F e d e r a l R e s e r v e b a n k s , -,dtu t h e latter's e n d o r s e m e n t d e c l i n e d from $o$8,000 t o $ 100,000 - The t o t a l of a c c e p t a n c e s on h a n d i n c l u d e s a l s o 2 1 . 3 m i l l i o n s ox bank a c c e p t a n c e s p u r c h a s e d f r o m o t h e r F e d e r a l R e s e r v e b a n k s w i t h o u t t h e l a t t e r 1s e n a o r s e m e n t . of 2 5 . 8 m i l l i o n s i n An i n c r e a s e . T r e a s u r y c e r t i f i c a t e s on hand r e p r e s e n t s l a r g e l y t e m p o r a r y c e r t i f i c a t e s i s s u e d t o 5 R e s e r v e b a n k s t o cover a d v a n c e s to t h e Government p e n d i n g r e c e i p t of f u n d s f r o m d e p o s i t a r y i n s t i t u t i o n s and t o a l e s s e r e x t e n t one-year 2 per cent c e r t i f i c a t e s deposited w i t h the Reserve bank n o t e c i r c u l a t i o n . Treasury to secure Federal T o t a l i n v e s t m e n t s show a dec-ease f o r the week of 137 *6 m i l l i o n s . Heavy w i t h d r a w a l s of Government f u n d s r e d u c e d t h e b a l a n c e t o t h e c r e d i t of t h e Government by 115-4 m i l l i o n s , w n i l e members' r e servo do-posits show a g a i n f o r t h e week of 4g m i l l i o n s . Net d e p o s i t s show a decline of 11C .8 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 i r c u l a t i o n f e l l o f f 6 0 m i l l i o n s . On t h e o t h e r h a n d t h e b a n k s ' c a s h r e s e r v e s , owing l a r g e l y t o t h e c o n s i d e r a b l e d e p o s i t s of g o l d by the Government a n d the p u r c h a s e cf g o l d i m p o r t e d from Canada, i n c r e a s e d by 15«2 m i l l i o n s . As the r e s u l t t h e r e s e r v e p e r c e n t a g e of t h e banks shows a r i s e f o r t h e wee,, from 51-8 t o 5 ) . 7 p e r c e n t . St .423a R e l e a s e d f o r p u b l i c a t i o n Sunday i m r n i n g June 8 , 1919j n o t e a r l i e r . STATEMENT OF COMBIBED RESOURCES JED LIABILITIES OF THE TWELVE FEDERAL RESERVE EAL-JI: AT CLOSE OF BUSINESS JUHE 6, 1919-'. J u n e 7 . 191S May 29. 1919 R E S O U R C E S . . . Jirne 6, 1919 $463,622,000 $346,618,000 Gold c o i n and c e r t i f i c a t e s > $35^,965,000 417,675,000 586,742,000 Gold S e t t l e m e n t Fund - F . R. Board 581,055,000 51,280,000 Gold w i t h f o r e i g n a g e n c i e s 932,577,000 93b ,024,000 933,360,000 T o t a l g o l d h e l d "by "banks 955,255,000 1,131,725,000 Gold w i t h F e d e r a l R e s e r v e Agents 1,139,503,000 28,431,000 122,658,000 126,272,000 Gold Redemption Fund 1,919,263,000 2,187,7^3,000 2,201,804,000 Total gold reserves 5 8 , 4 6 i ,000 . - 67,363,000 Legal tender n o t e s , s i l v e r , e t c . 62,539,000 1,977,72^,000 2,255,106,000 2,270,343,000 Total reserves 627,025,000 1,802,893,000 ( S e c u r e d by Govt. war o b l i g a t i o n s 1,620,994,000 B i l l s discounted ( M 1 o t h e r 357,467,000 186 ,499,000 190,130,000 248,542,000 183,650,000 B i l l s "bought i n open market 192,307,000 1 , 2 3^,p34,000 2,173,042,000 2,009,431,000 T o t a l " b i l l s on h a n d 64,484,000 27,131,000 27,129,000 U. S . Government "bonds 83,000 U . S. V i c t o r y n o t e s 333,000 *32,601,000 201,800,000 U. S . 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 227,5.53,000 694,000 A l l o t h e r earning a s s e t s 1 , 3 3 0 , 8 13,000 2 , 4 0 2 , 0 5 6 , 0 0 0 272£T,imC000 Total earning a s s e t s 10,986,000 10,986,000 Bank p r e m i s e s 402,529,000 34,639,000 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 650,757,000 637,000 8,963,000 8,S6S,000 5fo Redemption Fund a g a i n s t F . R. bank n o t e s 10,035,000 10,042,000 All other resources 5,321,725,000 3,711,703,000 5,215,442,000 TOTAL RESOURCES L I A B I L I T I E S 75,662,000 82,589,000 Capital paid in 52,652,000 1,134,000 49,466,000 Surplus 49,466,000 175 ,376 >000 141,479,000 Government d e p o s i t s 26,058,000 1,449,486,000 1,656,118,000 Due t o members - r e s e r v e account 1,705,104,000 239,971,000 517,638,000 Deferred a v a i l a b i l i t y items 497,349,000 109.560,000 150,324,000 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 134,364,000 1,978,893,000 2,465,559,000 Total gross deposits 2,362,875,000 1,639,579,000 2,515,292,000 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 2,513,037,000 9,580,000 16s,427,000 165,246,000 F . R. b a n k 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 6,855,000 36,452,000 38,166,000 All other l i a b i l i t i e s 3 , 7 1 1 ,703,000 5 , 3 2 1 , 7 2 5 , 0 0 0 5 , 2 1 5 , 4 4 2 , 0 0 0 TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o n e t d e p o s i t and F . R. 61.5$ 51 n o t e l i a b i l i t i e s combined 53 - I f * R a t i o of g o l d 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 6 4 . 1% a f t e r 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 i a b i l i t i e s 6 6 . 5 I^ fl '"Includes one-year Treasury n o t e s s St .423 b R e l e a s e d f o r p u b l i c a t i o n Sunday morning June 8, I 9 I 9 ; n o t e a r l i e r . WEEKLY STATEMENT OF EE SOURCES Jllffi LIABILITIES OF THE FEDERAL RESERVE BAEKS AT CLOSE OF BUSI1IESS JUHE 6, 19 2-9 • R E S O U R C E S ( i n t h o u s a n d s of d o l l a r s . ) Boston Mew York p h i la* C l e v e l * 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 7,269 9,599 3 5 4 , 9 6 9 Gold c o i n and c e r t i f i c a t e s 3 , SSI 263., 578 502 2 4 , 5 1 0 2,124 7,927 23,253 3,859 5,321 106 581,055 19,920 6,256 Gold s e t t l e m e n t Fund - F . R . B o a r d 3 7 , 5 9 2 192,4?4 4 7 , 0 4 ] 5 5 , 4 l 4 21,626 6,977 112,260 18,158 25,17% 3 8 , l 6 l 936,024 T o t a l g o l d h o l d by b a n k s 41,4?) 4 5 6 , 0 5 2 4 7 , 5 4 5 7 9 , 9 2 4 2 3 , 7 5 0 1 ^ 9 0 4 135,553 22,01? 3 3 , 4 9 5 32,267 13,525 29,519 Gold w i t h F e d e r a l R e s e r v e Agonts 5^,279 285,268 75,259 132,, W 3 2 , 9 6 0 49,597 245,326 58,573 3 8,617 2 8 , 5 6 1 16,264 118,957 1 , 1 3 9 , 5 0 8 126.272 961 2.648 Gold r e d e m p t i o n f u n d 16,645 24,829 8.43 5 243 I 0 , l 4 4 6 . 5 8 4 31.436 4.558 6 . 6 2 6 13.163 2 , 2 01,804 149,437 32,437 T o t a l gold r e s e r v e s 112,397 7 6 6 , 1 % 131,239 213,0l4 66,854 71,085 415,315 85, i 4 s 78,738 7 9 , 9 9 1 381 2,043, £&h53-9 Legal tender n o t e s , s i l v e r , e t c . 7.084 51. SAP 275 1.104 399 1,438 . 1.325 2,3^7 94 l4q Total reserves 119,481 818,039 131,51% 214,118 6 7 , 2 5 3 72,523 4 l 6 , 6 4 o 8 7 , 5 0 5 7 8 , 8 3 2 80, l40 3 4 , 4 8 0 149,818 2 , 2 7 0 , 3 4 3 B i l l s discounted: Secured by Government war o b l i g a t i o n s (a) 133,197 63.4,66l 160,810 118,393 7 6 , 1 3 2 6 4 , 6 4 ? 195,120 5 3 , 9 5 6 4 4 , 0 3 0 4 7 , 7 0 4 27,074 6 5 , 2 7 0 l , 620,99% 190,130 All other 4,992 3 8 , 9 ^ 9 13,900 6 , l l 4 12,138 13,174 16,197 9,567 3 , 3 5 9 34,343. 25,353 11,544 , , 6 1 3 49.156 B i l l s bought i n open m a r k e t ( b ) - „ I j M l 51.779 972 2 0 . 1 3 2 7,393 5 . 3 8 2 32.77b 5.360 7.l4? ' • l6q T o t a l b i l l s on h a n d 155,622 725,389 175,682 144,639 9 5 , 6 6 3 83 , 2 0 3 ^ 4 4 ^ 0 9 3 6 8 , 8 8 3 " 5 5 , 0 3 1 82,21b 5 3 , 0 4 0 125,970 27,129 2,633 3,966 U» S. Government bonds 539 1,302 1,385 1,083 1,234 375 4,476 1,153 116 8,867 333 U. S. V i c t o r y n o t e s 29 50 8 246 227,553 4,900 12,845 U . S . 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 17,916 6 6 , 1 4 0 25,680 16,976 9 , 1 6 0 10,549 22,612 1 9 , 1 8 2 9 , 7 1 0 11.883, Total earning a s s e t s 17^166 7 9 2 , 8 2 1 202,7^7 162,b98 106,057 9 4 , 1 3 5 2 7 1 , 1 8 1 8 9 , 2 1 8 6 5 , 1 0 3 102,966" 6 1 , 9 0 6 141,448 2,264,445 10,986 400 221 Bank p r e m i s e s 800 3,782 500 875 3 12 218 2,936 54l 401 U n c o l l e c t e d i t e m s and o t h e r d e 650,757 ductions from g r o s s deposits— 53,b99 162,255 61,674 48,462 60,073 33,868 71,351 46,052 12,633 %9,S%7 2 3 , 6 4 s 27,095 % Redemption f u n d a g a i n s t F . R . 8,668 4os banknotes 844 1,752 1,025 774 l64 1,480 575 289 707 579 10,042 74o 755 All other resources 421 2,911 913 822 755 351 1,331 441 244 358 TOTAL RESOURCES 349,351 1,781,620 398,373 427,7^9 234,614 201,5,65 764,919 224,332 157,101 234,519 121,374 3 1 9 , 9 2 5 5 , 2 1 5 , 4 4 2 MEMORANDA (a) I n c l u d e s b i l l s d i s c o u n t e d for other F.R.banks,viz - - (b) i n c l u d e s b a n k e r s * a c c e p t a n c e s bought f r a n o t h e r F . R . b a n k s With t h e i r endorsement Without t h e i r endorsement— - - 29,781 100 - - - - - - 49,45s - 12,000 - 24,000 - 115,239 21,91b 100 21,916 St.423 R e l e a s e d f o r p u b l i c a t i o n Sunday m q r n i n g June 8, 1$!$; n o t e a r l i e r . TEEKLY STATEMENT OF RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUHE 6 , 1919' ( i n t h o u s a n d s of d o l l a r s * ) L I A B I L I T I E S Boston New York p M i a c l a v e 1. Richn* A t l a n t a Capital paid-in 6,877 21,3^ 7 ,&32 9 ? 225 4, 209 3,244 Surplus 2,95b 21,117 2,600 3*J)$2 2,19b 1,310 Goverment deposits 6l 5,195 440 3,506 1,572 562 Due t o m e n o s r s - R e s e r v e a c c o u n t 101,557 730,129 l C 6 , 2 l 4 130,763 5?, 2C4 4 6 , 6 3 6 r e f e r r e d a v a i l a b i l i t y items 43,4^7 116,959 5 1 , 1 2 2 44,217 50,900 2 3 , 1 5 8 All oiher deposits , 1.-556 118.557 730 *c6 304 293 T o t a l g r o s s demo s i t s 14b", 6 6 1 954,446 158,506 178,992 105,586 7 0 , 6 4 9 F.R«note3 i n a c t u a l c i r c u l a t i o n - 173,771 736,674 207,352 2 1 8 , 0 9 4 114,780 115,569 IMLBaaii: n o t e s i n c i r c u l a t i o n net liability 16.208 34,317 1 9 , 1 0 1 15,237 5>564 9,13 0 All other l i a b i l i t i e s 2*515 13.688 3 , 3 ? 4 . 2.64? J.,87? 1,462 TOTAL LIABILITIES 3 4 9 , 3 5 1 1 , 7 3 1 , 6 2 0 395,373 4 2 7 , 7 4 9 234,614 2 0 1 , 5 6 5 Chicago s t * L o u i s 11,442 3,^5 6,416 l,bu) 5>01 1,458 235,7 ^0 6 0 , 3 5 9 55,349 3 6 , 8 8 8 2.6*7 882 299,137 99,557 421,o4b 103 , 909 Minn* Kans*Cy* D a l l a s San Fran«. T o t a l 3,00o 3,7^1 3,237 4, f y 0 82 -1,415 2,421 1,124 2,448 4$,46b 6?S 1,339 1,510 . ^0 26,058 53,576 7 8 , 0 3 8 43,15"- 5 5 , 7 3 4 1,70$, 104 7 , 7 2 3 3 5 , 1 3 4 1 7 , 5 - 5 14,897 497,349 1,170 l,bQ7 239 5,573 134,3o4 6 3 , 1 2 7 116,118 6 2 , 4 i S 107,254 2 , 3 6 2 , 8 / 5 82,629 9 7 , 1 0 2 4 6 , 1 2 2 195,959 2 , 5 1 3 , 0 3 7 2 2 , 9 9 0 14.03 2 5,833 1 3 , 0 2 1 7,030 6,753 169,246 1,§88 Wl6__l^ai. 2,096 LIS 2,651 38, 166 7 6 4 , 9 1 9 224,332 157,101 234,519 121,374 3 1 9 , 9 2 5 5 , 2 1 5 , 4 4 2 ME M 0 R AN DA Contingent l i a b i l i t y as endorser on Discounted paper r e d i scorn t a d with, o t h e r F . R. banks Bankers" a c c e p t a n c e s sold to o t h e r F . R- banlcs ————— - ICO 35, 281 — — — 50,000 — - - — — ~ 29,95s ~ — - - H5,239 ~ luo 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 F.R»notes in a c t u a l c i r c u l a t i o n 181,545 7.774 524,619 219,667 2 3 2 , 4 g 4 117,856 1 1 9 , 4 9 1 4 5 5 , 0 2 1 118,147 87.945 12,515 l 4 . 4 o p 3.076 3 . 9 2 2 3 3 . 9 7 5 14,238 54,78^ 103,25s 2,15? 6,156 48,064 217,461 2,722,606 1 , 9 4 2 21,472 209,569 173,771 736,674 207,352 2 1 8 , 0 9 4 114,780 115,569 421,046 103,909 52,629 4 6 , 1 2 2 195,959 2 , 5 1 3 , 0 3 7 W i t h i n 15 days B i l l s discounted B i l l s bought i n open m a r k e t U-S. 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 97,102 DISTRIBUTION OF BILLS AND U» S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES. l6 t o 30 days 3 1 t o 60 days 6 l to 90 days Over 90 days Total 1,542,468 • 57,726 53,579 37,495 42,542 4ll 144,953 71,657 '3-91 61,39s 26,352 7/121 24,810 166,051 1,511,124 195,307 227,553 St-U23d R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g J u n e S, 1919; n o t e a r l i e r « STATEMENT OF FEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS JUNE 6 , 1919- ( i n t h o u s a n d s of d o l l a r s . ) Boston New Y o r k p h i la. Clevel. R i c h n . Atlanta Chicago St. L o u i s M i n n . Kans-Cy. D a l l a s San F r a n . Total ESfiESE?:-:::::: K1: '-SI* SH: t'S IIS 'S:S S:S S?ig « %% -86 8SIS"S*5:5"2:S'S:SS 'Mi'S:» B*ISNSS I s s u e d to "bank l e s s amount ------ COLLATERAL SECURITY FOR OUTSTANDING- NOTES: Gold c o i n and c e r t i f i c a t e s j m 1S1,»5 _ 8 2 4 , 6 1 9 319,567 2 3 2 , » 9 U » - 7 , S 5 6 1 1 9 , ^ 1 4 5 5 , 0 2 1 11S.XU7 * , 7 0 . _ gO 6 2 5 - 2,500 - - 13,052 103. 25S - _ ts,o6'4 g i 7 , t 6 l 2,752,606 11,581 " EBE5 5 5 = IS iSlllii &S SSiE If IIIIIH Total ^delivemd^fS/Smt 231,492 JI 151,545 S2U.619 219,867 2 3 2 , 1 # 117,856 119,491 455,021 l i s , 1 ^ 7 84,783 103,258 4s,o64 217,461 2,722,606 155,622 725,389 157,947 143,626 52,803 53,o4o 107,629 1,955,496 89,244 78,414 g44,o64 65,502 82,216
@FedFRASER