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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 S m d a y morning March 16, 1$19> n o t e a r l i e r # St *2:64 STATEMENT FOR TH3 PRESS. 1^, S u b s t a n t i a l w i t h d r a w a l s of Government d e p o s i t s , more Uian o f f s e t by a d d i t i o n s t o members 1 r e s e r v e d e p o s i t s , and f u r t h e r i n c r e a s e s in n e t e c i r c u l a t i o n a r e i n d i c a t e d by t h e F e d e r a l Reserve Board 1 s weekly bank s t a t e m e n t i s s u e d as a t c l o s e of b u s i n e s s on March l 4 , 1919• But l i t t l e change i s r e p o r t e d in t h e t o t a l of war paper h e l d . Other d i s - c o u n t s on hand show a r e d u c t i o n of 2*2 m i l l i o n s , while a c c e p t a n c e h o l d i n g s i n d i c a t e a n e t l i q u i d a t i o n of 11 *4 m i l l i o n s * Interbank discounting accounts f o r most of t h e changes in t h e h o l d i n g s of a c c e p t a n c e s and d i s c o u n t s r e p o r t e d by t h e Chicago, Minneapolis , St * Louis and Kansas City b a n k s • The g a i n of 8*5 m i l l i o n s i n U• S. s h o r t - t e r m s e c u r i t i e s r e p r e s e n t s i n p a r t i n v e s t m e n t s i n oneyear T r e a s u r y c e r t i f i c a t e s to s e c u r e F e d e r a l Reserve bank n o t e s , p a r t l y tempora r y p u r c h a s e s of o t h e r T r e a s u r y c e r t i f i c a t e s from member and non-member banks# Total e a r n i n g a s s e t s show a decrease of about 4 m i l l i o n s » Government d e p o s i t s show a d e c r e a s e f o r t h e week of 4 4 . # m i l l i o n s , w h i l e members 1 r e s e r v e d e p o s i t s show an i n c r e a s e of 4g m i l l i o n s * Net d e p o s i t s , be- cause of t h e l a r g e r " f l o a t 1 1 r e p o r t e d t h i s week, show a d e c l i n e of 32*6 m i l l i o n s * The banks 1 n o t e c i r c u l a t i o n went up by 17*5 m i l l i o n s , of which l4.G m i l l i o n s r e p r e s e n t s an i n c r e a s e 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 r e p o r t e d by t h e Boston, Hew York and Chicago banks, and 2 -Q m i l l i o n s - an i n c r e a s e i n l i a b i l i t i e s on F e d e r a l Reserve bank n o t e c i r c u l a t i o n « As t h e r e s u l t of t h e c o n s i d e r - a b l e d e c r e a s e i n d e p o s i t l i a b i l i t i e s t h e banks 1 r e s e r v e p e r c e n t a g e remains unchanged a t 5 1 ^ p a r c e n t , n o t w i t h s t a n d i n g a d e c r e a s e of 8*7 m i l l i o n s i n cash r e s e r v e s and an i n c r e a s e of l4»6 m i l l i o n s i n F e d e r a l Reserve n o t e l i a b i l i t i e s # R e l e a s e d f o r p u b l i c a t i o n Sunday morning March 16, 19195 n o t e a r l i e r . STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS March l 4 , 1919 RESOURCES $332,7^9,coo Gold c o i n and c e r t i f i c a t e s 501 ;.07g50C0 Gold Settlement Fund - F^R,Board s.sgq.oco Gold w i t h f o r e i g n a g e n c i e s 839,656,000 T o t a l gold h e l d "by banks 1,170,601,000 Geld w i t h f e d e r a l Reserve Agents 119.277.000 Gold Redemption Fund 2,129,534,000 T o t a l gold r e s e r v e s 67.203,000 Legal tender n o t e s , s i l v e r , e t c . 2 , 1 9 6,737,000 Total reserves 1,702,351 000 ; (Secured by Gov't.war o b l i g a t i o n s 184 ,012 ,000 B i l l s discounts 3 d : (AH o t h e r 262.139,000 B i l l s bought i n open market 2,143,502,000 T o t a l b i l l s on hand 27,223,000 U.S.Government long-term s e c u r i t i e s 162,34s,000 U.S,Government s h o r t - t e r m s e c u r i t i e s 4,000 All other earning a s s e t s 23W7077.0C0 Total earning a s s e t s 9,720,000 Bank p r e m i s e s 633,017,000 U n c o l l e c t e d i t e m s & o t h e r d e d u c t i o n s from gross d e p o s i t s 6,745,000 5$ Redemption f u n d a g a i n s t F . R. bank n o t e s 7,507,000 All other resources 5^7,203,000 TOTAL RESOURCES L I A B I L I T I E S 81,562,000 C a p i t a l paid- i n 49 ,466,000 Surplus 150,783,000 Government d e p o s i t s 1,675,045,000 Due to members - Reserve account 509,112,000 D e f e r r e d a v a i l a b i l i t y items 117,522.600 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 . 2,452,462,000 Total gross deposits 2,503,055,000 F. E. notes in actual c i r c u l a t i o n 139 > 7 9 ,ooo F,.E,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 21.739.000 All other l i a b i l i t i e s 5,247,803,000 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. n o t e 5l,U£ 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 , R . n o t e s i n c i r c u l a t i o n a f t e r 63 «0^e 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 St.264a AT CLOSE OF BUSINESS MARCH l 4 , 1919. March 15, 1918 March 7, 1919 $477 ,521,000 $341,070,000 3 7 2 ,508 ,000 - 5 2 . _5QQjLoa 511,227,000 gj.82q.000 858,126,000 1,163 ,840,000 117 .513.000 2,139^79,000 6s.q83.ooo 2,205,462,000 1,701,487,000 186,240,000 273,493,000 2,161,220,000 27,057,000 159,835,000 _ 3 2 3 ,24s,0)0 s4o ..732,000 68 ,383,000 4,000 ,980,000 ^ ,o4o,000 1,107,135,000 599,197,000 7,429,000 368,756,000 537,000 5,178,134,000 3,330,073,000 81,490,000 73,886,00c 27348,1167000 9,720,000 8,210,000 49,466,000 195,559,000 19 1.452.000 1,134,00c 72.023,000 1,448,047,000 1 ,626,076,000 456,289,000 _12J_a6^000 902 ,529,000 869 ,628 ,000 21 086.000 1,793 ,243 ,000 5£_,950,000 1,852 ,193,000 257 ,621,000 259 ,s63,CGu 232,157,000 2,401,287,000 2,488,537,000 136,591,000 20 . 763.000 5,178,134,000 51 *4$ 63 >y]o 81.048.000 1,833,275.000 1,406,228,000 8,000,000 1+550*000 3,330,073,000 64.5$ R e l e a s e d , f :>r r u b I t c a t ! or. Sunday racr r a n g March 16, 1$ 1-9; n o t e a r l i e r S t *264b maCu-Y^ SlAlEi/IGNT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANES AT CLOSE OF BUSINESS MARCH l 4 , i g i g . ( I n t h o u s a n d s of d o l l a r s . ) R E S O U R C E S B o s t o n New York P h i l a , C l e v e l . Riclm* A t l a n t a C h i c a g o S t - L o u i s l.linn« Kans «Cy* D a l l a s San. F r a n Total 245,713 132 2 1 , 4 4 4 2,144 8,092 22,539 4,201 8,276 115 6,047 10,774 332,74$ Gold c o i n a n d c e r t i f i c a t e s 3,272 Gold S e t t l e m e n t 3 \ m d - F - R . B o a r d 37,625 106,615 4 ) , 2 6 3 5 5 . ^ - 5 3 3 , 7 4 9 16,512 101,502 16,109 17,033 26,202 1 1 , 6 8 / 35,656 501,078 Gold w i t h f o r e i g n a g e n c i e s 408 2.011 4pg 525 204 175 8l6 233 233 291 204 321 5,829 T o t a l - o l d h e l d by banks 4lJ05 3 54,339 43 , 303 77,094 3 ^ 0 9 7 ^ 2 4 , 7 7 9 124,857 20,543 2 5 , 5 4 2 2 6 7 6 0 s 11,93 8 4677 5 1 839,656 Gold x t i t h F e d e r a l Reserve Agents 5-5.681 269,783 61,533 130,781 43,32% 39,846 296,878 62,425 5 3 , 1 9 2 45,359 18,4o6 9 2 , 3 9 0 1 , 1 7 0 , 6 0 1 Gold Redaction Fund 9,459 25,000 25,021 727 8,44o 5,570 130.357 208,602 87,864 70,195 Total goid r e s e r v e s 107,445 659,122 Legal tender notes, s i l v e r , e t c . 6.566 52.. 0 9 1 Total reserves 114,011 701,213 Bills )Sec -by G o v ' t . w a r o b l i g a t i o n s 144,517 761,365 Disc id)All other 5,245 29,234 B i l l s b o u g h t i n open m a r k e t 9.816 16.897 T o t a l b u l l s on h a n d 1-59,578 807,496 U « 3 . G o v t , long-1era. s e c u r i t i e s 538 1,390 U.S.Gov't.short"tern securities l4.4l6 63,462 All ether earning assets Total earning assets 174,53 2 872,348 Bank p r e m i s e s 800 3,302 U n c o l l e c t e d items and other ded.uctj ons from g r o s s d e p o s i t s 56,891 172,196 5/5 R e d e m p t i o n Fund - F . R . b a n k n o t e s bl6. 1,836 A l l oAihcr r e s o u r c e s , 255 1.771 TOTAL RESOURCES 347,105 1,752,666 Carioa^paiLin1 T 1 E S Snryir^ Go/erment deposits Due t o members - R e s e r v e a c c o u n t Deferred a v a i l a b i l i t y items All other deposits Total gross deposits F,R.,notes in a c t u a l c i r c u l a t i o n F->R<bank n o t e s - n e t l i a b i l i t y All other l i a b i l i t i e s TOTAD LIABILITIES C o n t i n g e n t l i a b i l i t y a s e n d o r s e r on b i l l s discounted w i t h or sold to o t h e r Federal Reserve banks 6,775 2,996 20,927 21,117 18,217 15,063 95,186 715,361 46,608 122,338 6l6 105,704 159,62? 958,466 163,l42 710,002 12,251 34,371 2jl4 7^-183 347,105 1,752,666 13,744 - 308 1,083 130,665 209,6^5 1 7 8 , 1 7 1 110„b74 11,536 4,503 1.33 2 51.183 19-1,039 166,360 1,385 1,083 13,780 12,842 206,204 180,285 500 100 6 l , ' 5 4 l 57,000 700 . 576 892 55o 400,502 448,086 7,577 2,6u8 10,663 102,767 54,907 744 3.69,081 206,956 12,653 1Jd27 4oo,502 15,000 9,218 3,552 25,31? 3,950 4,114 2,196 3,180 11,350 1,510 6,4i6 3,805 1,603 15,295 4,213 11,77 8 2 3 , 6 7 5 9,9^2 132,499 5 4 , 0 0 1 4 2 , 9 0 0 232 , 80 1 5 9 , 3 8 3 44,856 36,007 20s121 70,630 35,079 313 82 5% 1,928 512 1 9 2 J 6 3 9 5 , 3 0 3 74,850 3 2 9 , 0 8 4 104,916 2 2 9 , 7 6 1 1 2 7 , 6 7 9 110,087 4 l 7 , 6 l l 1 0 7 , 7 0 8 11,1/8 5,151 7,440 18,315 7,4l3 1.4l4 980 791 .1,901 ?4l 4 4 8 , 0 8 6 2 3 4 , 4 2 3 197,858 7 8 4 , 6 7 7 226,188 - 5,937 6,205 2,606 1,055 4 4 7 , 0 5 2 86,908 84,671 78,172 38,950 140,196 159 '883 1.2l4 2.310 112 232 2.056 189 8 8 , 0 2 3 7 1 , 0 7 8 4 4 8 , 2 6 6 8 9 , 2 1 8 8 4 , 7 8 3 7S74o5 4 1 , 0 0 b ~ l 4 0 , 3 8 5 7 7 , 3 4 8 6 4 , 9 0 5 1 5 2 , 1 6 5 5 7 , 9 3 1 21, l 4 4 4 o , 8 S 6 2 0 , 9 2 1 7 2 , 3 2 4 8,197 1 , 4 0 0 3 8 , 3 4 8 29,798 1 9 , 4 4 8 1 0 , 6 4 9 1 2 , 3 1 8 13,336 6.610 7 . 3 9 8 51.802 17,366 3 6,332 l4,143 1,55 8 47,702 94,607 8 4 , 6 2 1 217,303 8 3 , 5 9 4 5 8 , 8 7 6 9 3 , 3 7 7 52,277 139,474 1,2)4 373 4,477 1,153 117 3,868 3,967 2,633 5,375 7,964 16,612 8,068 9,595 6,120 4,400 5,714 _4 1 0 1 , 2 1 6 9 2 , 9 6 7 2 3 8 , 3 9 2 9 2 , 7 1 5 68,588 1 0 8 , 3 6 5 6 0 , 6 4 4 1 4 7 , 8 2 1 295 217 2,944 541 400 2 2 1 . 400 .. . 4 4 , 2 9 2 3 2 , 9 7 0 9 3 , 5 ^ 6 4 ^ , 0 6 6 lj>,22o $2, 822 21, 33,79® 98 ' 377 621 337 199 694 335 356 4°9 249 888 311 IS—, 592 —(J0_ 80J 2347523.I97.85S 784,677 226,188 166,919 241,247 124,567 3 2 3 , 5 6 5 20,000 - - 2,959 1,515 3,738 2,421 3,198 1,184 4,72.1 2,44s 9 , 5 3 0 10,64.5 9,023 12,739 4g,255 73,131 39,563 79,298 9,703 3 5 , 7 7 8 13,846 19,189 323 678 62 6,509 6 8 , 8 1 1 120,232 62,395 117,735 87,972 100,856 5 0 , 5 5 1 190,770 5,183 12,787 6,316 6,421 S79 1.216 924 1.470 166,919 2 4 1 , 2 4 7 124,567 323,565 - -• 22^,1^0- - 119,277 2,129,534 67,203 2,19b,737 1,702,351 184,012 262,139 2,148,502 27,223 168,348 .4 2,344,077 9,720 . 683,017 5,745 7,507 5,247,803 562 49,466 81 150,783 1,675,045 509,112 117,522 2,552,562 2,503,095 139,579 21,739 5,247,803 %0,8%4 R e l e a s e d i o r p u b l i c a t i o n Sunday morning March l 6 , 2919; not e a r l i e r st.264c STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MARCH l 4 , 1919 • (In t h o u s a n d s of d o l l a r s . ) Boston New York Phi l a . C l e v e l . Richn . A t l a n t a Chicago S t . Louis Minn, FEDERAL RESERVE NOTES 269,040 1,380,480 341,420 334,060 212,520 204,g60 563,560 171,800 124,880 Received from Comptroller 77.732 456,929 97,459 57.296 52.440 36.238 84,547 4 l , 5 8 1 24,682 Re;vri.ed tc Comptroller 191,308 923,551 243,961 276,764 i6o,oso 168,722 479,013 130,219 100,198 Cnargeable t o F,R.Agent 23,360 143,600 24,6oo 32,490 29,310 54,965 42,oco 9,905 10,900 In hands of F . R . Agent I s s u e d bo F . R . t a n k l e s s amount r e t u r n e d t o F . R . Agent f o r 167.948 779.951 219.361 244.274 130.770 111.757 437.013 120.314 89.298 redemption COLLA'IEHAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on hand GoId redemption f u n d „ 9 > 681 47,000 Gold S e t t l e m e n t Fund - F.R.Board 111,267 E l i g i b l e p a p e r , minimum r e q u i r e d Total 161,948 779,951 2 1 3 , 2 # / # AMOUNT 07 ELIGIBLE PAPER DELIVERED TO F . R. A®NT 807,496 160,433; 165,453. 159,57 8 188,740 11,043 13,644 Kans-Cy. D a l l a s San F r a n . T o t a l 159,700 101,960 253,220 4 , 1 1 7 , 6 0 0 ^?.q64 26,35.5 _I&4o6 1,023,623, 121,736 75,605 222,814 3 , 0 9 3 , 9 7 1 6,000 414,950 13,820 24,000 107,916 51.605 214, gl4_2 < 6l9^Q£l 24O, 146 12,581 12,132 78,718 2,64l 80,258 851,737 3,184 33,199 124,424 1,508,420 51,605 21$, 83-4 2 , 6 7 9 , 0 2 1 52,277 127,924 2,080,990 5,533 3,494 73,911 140,135 57,889 13,052 l,64o 38,500 36,106 13,0^70 113,757 4>7,013 320,314 89,298 2,999 42,360 62,557 16 58,714 93,377 23,270 12,511 1,327 510,168 157 , 828 113,493 87,443 2,503 2,073 70,000 47,889 95,000 42,000 35,270 291,345 58,931 89,491 78,352 217,303 70,092 MEMORANDA FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R. n o t e s outstanding 167,948 4,806 F. R. n o t e s h e l d by bank F.R.notes in actual circulation i S T T ^ 779,951 219,361 244,274 130,770 113,757 437,013 120,314 69,949 12.405 l4.513 3.091 3 . 6 7 0 19.402 I2.606. 710,002 206,956 229,761 127,679 110,087 4 1 7 , 6 1 1 107,708 89,29s 107,916 1,326 L060 87,972 100,856 51,605 216,814 2 , 6 7 9 , 0 2 1 1,054 26,044 175,926 5 0 , 5 5 1 190,770 2,503,095 DISTRIBUTION OF BILLS, U*S» GOVERNMENT SHORT-TEm SECURITIES AND WARRANTS BY MATURITIES, Within 15 days l6 t o 30 days 3 1 to 60 days 6 l t o 90 days Over 90 days Total B i l l s discounted B i l l s bought i n open m a r k e t U , S - Government s h o r t - t e r m s e c u r i t i e s Municipkl w a r r a n t s 1,525,076 99,651 23,503 1 55,292 68,850 3 225,629 76,312 202 59,319 17,326 2,815 21,047 141,828 1,886,363 262,139 168,348 4
@FedFRASER