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STATE.®!! FOR THE PRESS.

CONDITION OF FEDERAL RESERVE BANKS,
S u b s t a n t i a l a d d i t i o n s to b i l l h o l d i n g s , including both discounted and purcha.sed paper, accompanied by continued i n c r e a s e s in government and reserve deposit
and i n n o t e c i r c u l a t i o n , are i n d i c a t e d by t h e F e d e r a l Reserve Board's weekly bank
statement issued as a t close of business on Octooer 17, 1919'
War paper holdings show an i n c r e a s e f o r the week of 2 6 . 1 m i l l i o n s , other d i s counts on hand went up 21.S m i l l i o n s , and acceptances — l 6 » l m i l l i o n s .

Total war

paper holdings of the Chicago and Minneapolis banks include 93*7 m i l l i o n s of paper
discounted f o r other Federal Reserve banks, as against 50*3 m i l l i o n s the week
before, while of the t o t a l acceptance holdings of the San

Francisco bank 13-7

m i l l i o n s , as a g a i n s t about 11 m i l l i o n s the week b e f o r e , were b i l l s taken over irom
other Federal Reserve banks.

Treasury c e r t i f i c a t e s on hand i n c r e a s e d 1.9 m i l l i o n s ,

or 0-6 m i l l i o n l e s s than the increase in the banks' aggregate l i a b i l i t i e s on
Federal Reserve bank: note c i r c u l a t i o n *
Government d e p o s i t s show an increase f o r the week of 53

m i l l i o n s , members

reserve deposits - an increase of 63.2 m i l l i o n s , other d e p o s i t s including f o r e i g n
government c r e d i t s - an i n c r e a s e of ^»2 m i l l i o n s , and t h e " f l o a t
Federal Reserve banks — an increase of.6S«7 m i l l i o n s .

c a r r i e d by the

Net d e p o s i t s f i g u r e out 5^*3

m i l l i o n s l a r g e r than t h e week before, and Federal Reserve note c i r c u l a t i o n shows a
f u r t h e r growth of 10.9 m i l l i o n s .

No m a t e r i a l changes are shown i n t h e d i s t r i b u t i o n

of the gold h e l d abroad, while n e t gold withdrawals t o t a l e d
aggregate cash r e s e r v e s declined by about the same amount.

2.9 m i l l i o n s , and
As a r e s u l t , the banks'

reserve r a t i o shows a f u r t h e r decline from U9«l to 48.3 P 6 r cent*




Relf

October
, i c a t i o n SiLi.
IQl^; not e c i r i i - r „
. „ 4a
STATEViEI^T OF COMBlim) RESOURCES MD LIABILITIES OF TEE TWELVE FEDEE; L RESERVE BASICS AT CLOSE OF BUSINESS OCTOBER 17 , 1919.
October 17, 1919
RESOURCES
October 10, 1919
October 18*1918Gold coin and c e r t i f i c a t e s
$245,485,000
$382,160,000
$251,93^,000
Gold s e t t l e m e n t f u n d - F„R. Board - - - - - - - - - - - - 496,904,000
4 i 6-,413,000
461,193,01-0
Gold w i t h f o r e i g n agencies - - - - - - - - - - - - - - - - 108,123,000
io6.qi7.ooo
5,829,000
Total gold h e l d by banks - - - - - - - - - - - - - - - 850,512,000
520,0b4,000
804,402,000
Gold w i t h Federal Reserve Agents - - - - - - - - - - - - 1,186,697,000
1,201,302,000
1,173,521,000
Gold redemption f u n d - - - - - - - - - - - - - - - - - - q4,nq.ooo
107.077.000
57,390,000
Total gold r e s e r v e s - - - - - - - - - - - - - - - - - - $2,128,443,000
$2,131,328,000
2,035,313,000
Legal tender n o t e s , s i l v e r , e t c . - - - - - - - - - - - - 70.742.000
70,772,000
52,372,000
Total r e s e r v e s - - - - - - - - - - - - - - - - - - - - 2,202,100,000
2,087,685,000
2,199,185,000
(Secured by Government war o b l i g a t i o n s - 1,698,885,000
1,672,797,000
1,262,757,000
Sills d i s c o u n t e d
(All other - - - - - - - - - - - - 422,842,000
401,058,000
425,799,000
B i l l s bought i n open market - - - - - - - - - - - - - - - 342,938.000
326,852,000
370,136,000
Total b i l l s on hand - - - - - - - - - - - - - - - 2,464,665,000
2,058,692,000
2,400,707,000
U. S. Government bonds - - - - - - - - - - - - - - - - - 28,205,000
27,096,000
27,097,000
tL S. V ic to ry n o t e s - - - - - - - - - - - - - - - - - - - 87,ooo
133,000
U. S * C e r t i f i c a t e s of i nde ote one s s - — — _ — —
— — — 26g,4i4 000
* 67,733,000
267,551,000
A l l other earning a s s e t s - - - - - - - - - - - - - - - - 197,000
2,761,263,000
T o t a l earning a s s e t s - - - - - - - - - - - - - - - - - 2,154,832,000
2^95,437,000
Bank premises - - - - - - - - - - - - - - - - - - - - - - 13,336,000
13,319,000
Gold in 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 - - - 46,355,000
46,355,000
1.115.812.000
1,162,167,000
U n c o l l e c t e d items and other d e d u c t i o n s from gross d e p o s i t s
853,658,000
803,517,000
900,013,000
12,331,000
3,425,000
5fo Redemption f u n d a g a i n s t F.E. bank n o t e s - - - - - - - 12,636,000
x 7
. <v
1J*» -r-7 I
13.530.000
8,494,000
A l l other r e s o u r c e s - - - - - - - - - - - - - - - - - 6,161,812,0
uuv
5,832,049,000
5,063,2x1.uOu
TOTAL RESOURCES
L I A B I L I T I E S
85,54o,ooo
79,057,000
Capital paid-in - - - - - - - - - - - - - - - - - - - - 95,391,000
81,087,000
1,134,000
81,037,000
Surplus - - - - - - - - - - - 133,639,000
179,862,000
Government d e p o s i t s - - - - - - - - - - - - - - - - - - - - 80,067,000
i,s4i, 101,000
1,506,727,000
Due to members - r e s e r v e account
1 J 77,859,ooo
882,156,000
585,090,000
D e f e r r e d a v a i l a b i l i t y items - - - - - - - - - - - - - - 683,734,000
101.430.000
112,634,000
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 government c r e d i t s - 97,203,000
2^4-319,000
2,958,326,000
T o t a l gross d e p o s i t s - - - - - - - - - - - - - - - - 2,643,863,000
2,502,488,000
2,752,569,000
2,741,684,000
* R * no Oo-S i n a c t u a l c i r c u l a t i o n - — —
- — — — —
249,675,000
55,666,000
2^7,176,000
F. R. bank n o t e s in c i r c u l a t i o n - n e t l i a b i l i t y
- - - 34,61S ,000
40,552,000
32,848.000
All other l i a b i l i t i e s - - - - - - - - - - - - - - - - - 6,161,812,000
5,063,216,000
5,832,049,000
TOTAL LIABILITIES
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. note
48-31=
5143s
l i a b i l i t i e s combined - - - - - - - - - - - - - - - - 49.1$
Includes 1-year TreasR a t i o of gold reserves
to F-R. n o t e s in c i r c u l a t i o n a f t e r
61.3%
57.1#
53-1'/.sett
ury n o t e s .
 i n g a s i d e J3F 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


R e l e a s e d f o r p u b l i c a t i o n Sunday morning, October JQ , 1919; n o t e a r l i e r .
S t . 6^4b
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSIIJESS OCTOBER 17, I 9 1 9 .
RESOURCES
Boston New York E h i l a . C l e v e l . Richm. A t l a n t a Chicago St.Louis.Minn. Kans.Cy. Dallas San F r a n . T o t a l
Gold c o i n and c e r t i f i c a t e s
7,489
160,809
1,018 15,321
2,2)2
7 , 8 0 1 24,213
3,050
8,275
l4g
7,o4l l4 556
2 5 1 954
Gold s e t t l e m e n t f u n d - F.R.Board
57,884
43,171 35,346 52,375 27,758
8,505 120,408 l 6 , 2 8 3 14,290 3 1 , 6 9 8
5 , 1 3 3 48,342
46l|193
12,[d)
Gold w i t h f o r e i g n a g e n c i e s
~
" ~,r"
* FBF
"""
"
*
"
%02^ . ~
c.887 .. 5,132
UWO
2,780
4.918
106.917
243,219 44,917 76,463 35,229 2 0 , 1 5 5 1 5 7 , 3 4 4 24,358 25,452 36,979 14,954 67,816
T o t a l g o l d h e l d by banks
73,17 S
820,064
284,4o6 78,795 133,120 40,786 4 9 , 6 1 9 2 8 2 , 1 2 8 66,857 37,823 35,233 21,497 100,656 1,201,302
Gold w i t h F e d e r a l Reserve Agents
70,352
24,872 10,007
. 737
7t6OO
6.139 19,836
6,080
17_. 281
5,520
Gold redemption f u n d
4,588
3,338
1.079
107.077
160,84l
T o t a l gold r e s e r v e s
552,497 133,719 210,320 : 83,615 75,913 459,308 97,295 68,795 76, 800 39,789 169,551 2,125,443
191
53.374
239
903
Legal t e n d e r n o t e s , s i l v e r , e t c .
5,501
1.097
1.254
1.751
255
7Q.742
380
5,734
63.
Total reserves
166,342
6 0 5 , 8 7 1 133,955 211,223 83,806 77,010 460,562 103,029 68,858 7 7,180 4 l , 5 4 o ^69,806 2,199,185
B i l l s discounted:
Secured bv Government war
o b l i g a t i o n s (a)
121,104
698,653 181,508 122,463 83,17s 71,530 179,599 5 6 , 9 6 6 37,203 53,524 38,129 55,028 1,695,885
All other
12,877
116,668 2 5 , o 6 l 24,960 18,013 35,923 46,155 2 6 , 0 5 9 21,823 48,645 2 3 , 6 7 7 22,981
422,842
B i l l s bought i n open market (b)
_ L 5.07.5
85,315
618 36.24q
5.577
8.564 42.006
7.444 19.270
521
1.100 90! 203
142, ^18
T o t a l b i l l s on hand
180,059
900,636 207,187 183,663 l O o J b S 116,017 2o7,7b0 90,469 7 8 , 2 9 6 102,690 62,90b 168,2^4 2 , 4 6 4 , 6 b j
U. S. Government bonds
539
1,257
1,355
1,094
1,234
375
4,477
1,153
116
8,868
3,966
2,633
27,097
w
w
U* S• Victory n o t e s
5
50
*
—
5
~
2"jf
—
w
3*7
U. S. C e r t i f i c a t e s of indebtedness 21.670
72.465 29.182 24.714 11.360 14.464 39.872 17.099
8.914 12.36b
8.200
9.108
269.4l4
Total earning assets
202,273
974,4o8 237,754 209,471 1 1 9 , 3 6 2 1 3 0 , 8 6 1 3 1 2 , 1 0 9 108,721 87,353 1 2 3 , 9 2 4 75,07 2 179 , 955 2 , 7 6 1 , 2 6 3
Bank premises
2,211
3,99%500
890
463
4go
2,936
691
402
359
4oo
13,336
Gold i n t r a n s i t or i n custody in
foreign countries
^6,355
—
45,355
U n c o l l e c t e d items and o t h e r
deductions from gross d e p o s i t s
98,011
287,801 100,822 87,240 87,816 45,330 136,17 1 72,03 4 20,5^8 76,154 55,710 48,175 1.115,812
5% redemption f u n d a g a i n s t F,R.
bank n o t e s
1,071
2jb9
1,450
1,086
375
699
1,944
635
334
892
511
563
12,331
All o t h e r r e s o u r c e s
318
5,286
1.37 1
749
939
911
1.220
624
162
51?.
5-12
927
13.530
-

ri—T

r

TOTAL RESOURCES
4 7 0 , 2 2 6 1,926,484 475,855 510,659 2 9 2 , 7 6 1 2 5 5 , 3 0 1 914,942 285,734- 177,255 2 7 9 , 0 6 3 173,704 3 9 9 , 8 2 8 6 , 1 6 1 , 8 1 2
(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 .
- 43,720
5,000
53,720
(b) I n c l u d e s bankers 1 acceptances
bought from, o t h e r F.R.banks:
Without t h e i r endorsement
- 13 , 668
13 , 665




Released f o r p u b l i c a t i o n Sunday morning, October 19, I919; not e a r l i e r .
WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS OCTOBER 17, I 9 I 9 .
(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 . Eichm. A t l a n t a Chicago St.Louis Minn. Kans.Cy. Dallas
Capital paid-in
7,034
22,o4s
7,774 '9,419.. 4,317
3,436 12,07s
4,032
3,950
3,906
3,325
Surplus
5,206
32,922
5,311
5> 860
3,800
2,805
9,710
2,589
2,320
3,957
2,029
Government deposits
12,285
45,907 10,251 13,322
1, l 4 s
5 , 4 l 2 12,974
6,123
4j4l
7,159
4,250
Due t o members - r e s e r v e account 122,372
752,519 i-04,546 133,838 56,784 47,366 258,688 63,970 53,755 85,45 2 51,400
Deferred a v a i l a b i l i t y items
78,773
205,982 91,929 73,784 72,965 4 l J 1 5 102,967 59,308 18,409 5 9 , H I 38,570
All o t h e r deposits i n c l u d i n g
f o r e i g n government c r e d i t s
5,682
43.878
6.275
6.153
3.63 6
2.7 18 11.350
3 . 651
2.197
1,638
2.128
T o t a l gross deposits
F.R.notes i n a c t u a l c i r c u l a t i o n
F.R.bahk n o t e s in 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

219,112 1,048,286 213,601 227,097 140,533
215,092
21,270
2,512

97,211 325,979 133,05 2

758,191 219,271 243,718 131,791 137,215 462,597 128,315
52,675 27,251 22,088 10,723 13,202 40,847 16,439
12.362

2.647

2.477

1.537

1.432

3,731

1.307

S t . 6$Uc

San F r a n . T o t a l
5,121
85,540
4,578
81,027
10,067
133,639
1 1 0 , 4 l l 1,841,101
32,643
882,156
9.524

101.430

79,102 155,360

96,34s 162,645 2,958,326

83,979
7,758

96,490
17,578

61,143 214,767 2,752,569
9,731 10,053
^
£75

I.0U6

1.772

1.128

2.664

34.615

470,226 1,926,484 475,855 510,659 292,761 255,301 914,942 285,734 177,255 279,063 173,704 399,828 6,161,212

Contingent l i a b i l i t y as endorser onDiscounted paper r e d i s c o u n t e d
with other F . R. banks

-

-

19,410

-

10,000

9,060

-

-

-

15,250

-

53,720

INDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. n o t e s outstanding
F . R. notes h e l d by bank

227,569
12,477

842,682 232,002 258,068 136,692 l 4 l , 2 4 4 490,903 14-9,062
84.491 12.731 14.350
4.901
4.029 28.306 20.74?

25,499 102,740
1.520
6.250

63,591 240,080 2 $ 970,132
2>1|8 25 313
217.563

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 2 1 ^ 0 9 2

752,191 219,271 243,718 131,791 137,215 462,597 128,315

23,979

b l , l 4 3 2l4,767 2,752,569

96, 490

DISTRIBUTION OF BII-LS AND U.S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES.
B i l l s discounted
B i l l s bought in open market
U* S . C e r t i f i c a t e s of Indebtedness




Within 15 days
1,777,863
95,063
32,290 .

l 6 to 30 days
109,132
59,44*3
4,999

3 1 t o 60 days
162,437
131,462
18,227

6 l t o 90 days
63,4-95
56,248
19,769

Over 90 days
8,800
722
194,129 ,

Total
2*121,727
342,938
269,4l4

Released f o r p u b l i c a t i o n Sunday morning, October 19, 1919,

n

° t earlier«

S t . 654d

STATS/IENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS OCTOBER 17, 1919.
(In thousands of d o l l a r s . )
Boston

New York

Phi l a . C l e v e l . " Richm. A t l a n t a Chicago S t . L o u i s Minn. Kansas Cy . D a l l a s San F r a n . T o t a l

ScS'ved^fram^Comptr011 er

432,900 1,512,440 466, 860 4)4,060 271,260 263,960 759,080 264,120 l4$,4g0 186,020 126,820 348,620 5,511,620

Returned to Comptroller

l6l.0"U

S4q.758 2 1 2 , 6 9 8 . H l j ^ 1 2 _ 1 U ^ , 3 5 1

271,869

966,682 254,162 287,248 1*9,280 186,599 5 23,103 168,972- 98,129 H I 930

84,00b 245,480 3,357,460

124,000

20,415

Chargeable t o F . R. Agent
In hands of F . R. Agent

44,300

22,l60

29,180

22,588

45,355

32,200

19,910

12,630

7 ^ 0 ^ ^ l l i ^ L ^ J ^ l 6 0

9,190

5,400

387,328

I s s u e d t o F . R. bank l e s s amount
redemption° ^

227,569

842,632 232,002 258,068 1 3 6 , 6 9 2 l 4 l } 244 490,903 1 u 9 , o 6 2

85,499 102,740

6 3 , 5 9 1 240,080 2,970,132

COLLATERAL SECURITY FOR
OUTSTANDING NOTES;

certificates

-

183,7^

li,3S2

• 10,666

13,^)6

Gold Settlement fund - F.R.Boaxd 59,000

90,000

65,389

Gold redemption f u n d

E l i g i b l e p a p e r , minimun r e q j i i r e 1 "57. 187

Total
DELIVERED TO**F«'R. AGENT

i

r




-30,125

j3^..gl6_T33,i 207,

-

2,500

-

4,000 13,052

12,995

1,786

3,119

9,103

3,927

90,000

39,000

44,000 273,025

58,930

-

8,831

-

242,248

3,971

2,873

3, 182

15,539

91.949

20,800

32,360

9>S4

85,117

867,105

—2X556—91,625 208,775—82,205—k7,676—&±J:SR—

227,569

842,682 2 3 2 , 0 0 2 258,068 1 3 6 , ' 6 9 2

l 4 l f 2 ^ 490,903 1 ^ , 0 6 2

180,059

9 0 0 , 0 5 9 154,645 1 8 0 , 4 8 8 1 0 0 , 9 6 6

105,793 267,399 90,399 7 0 , 5 1 6 1 0 2 , 6 9 0

85,499 102,740

6 3 , 5 9 1 240,080 2,970,132
62,906 155,127

2,,.1,047


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102