The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Released for p u b l i c a t i o n funday morning, Sept, 14, 1919', not e a r l i e r . STATW•-JT FOR THE FR';CS. St.590 Federal Reserve Board September 131 19^9 CONDITION OF FEDERAL RESERVE BANKS. Liquidation of 110.7 m i l l i o n s of war paper and a further gain of $1,1 m i l l i o n s in gold i n 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 are i n d i c a t e d in the Federal Reserve Board's weekly bank statement i s s u e d as at c l o s e of busi n e s s on September 12, 1919* As against the large reduction in the holdings of war paper the banks report increases of IS m i l l i o n s i n other discounts and of J«3 m i l l i o n s in acceptances, War paper holdings of the Cleveland, Chicago, St. Louis and Minneapolis banks include 4 5 . 4 m i l l i o n s of paper discounted f o r other Federal Reserve banks, while acceptance holdings of the Kansas City and San Francisco banks are i n c l u s i v e of 45.6 m i l l i o n s (as against $ 1 . 2 m i l l i o n s the week b e f o r e ) purchased from other Federal Reserve banks. Temporary advances to the Government by the New York and Chicago banks pending the r e c e i p t of funds from . depositary i n s t i t u t i o n s account mainly f o r a net increase of 9^»4 m i l l i o n s in the holdings of Treasury certificates. Government d e p o s i t s show a decline of 25.5 m i l l i o n s , while reserve d e p o s i t s went up 4 5 - 2 m i l l i o n s , and 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 35 m i l l i o n s . On the other hand the " f l o a t " c a r r i e d by the Federal Reserve banks and the gold h e l d in custody abroad - both of which items a r e treated as d e d u c t i o n s from gross d e p o s i t s - show i n c r e a s e s of 10,1 and $1.1 m i l l i o n s . decrease of 5*9 m i l l i o n s in n e t d e p o s i t s . The r e s u l t i s a Federal Reserve note c i r c u l a t i o n increased 9»5 m i l l i o n s , notwithstanding a s u b s t a n t i a l reduction in Federal Reserve note c i r c u l a t i o n r e p o r t e d by the New York Bank, The banks' aggregate l i a b i l i t i e s on Federal Reserve bank n o t e s in c i r c u l a t i o n increased by 4 , 6 m i l l i o n s . s e r v e s went up l . S m i l l i o n s and t o t a l cash r e s e r v e s - 1 . 6 m i l l i o n s . r e s e r v e r a t i o continues unchanged at 5 0 . 4 per c e n t . Gold r e - The D auks' St.590a Released f o r p u b l i c a t i o n Sunday morning September 14, I9I9; not e a r l i e r . 1 2 , 1919 STATEMENT OF COMB IKED RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER Sent ember 131938 September RESOURCES September 12.1919 $386,214,000 Gold coin and c e r t i f i c a t e s $ 2 4 3 , 2 3 8 , 0 0 0 $231,609,000 465,298,000 Gold Settlement Fund - F, R, Board 542,310,000 537,723,000 5.829.000 Gold with foreign agencies Total gold held by banks 8 5 7 ,3^1,000 7 8 5 , 5 ^ 8 , 0 0 0 769,332,000 1,123,132,000 Gold with Federal Reserve Agents 1,172,168.,000 1,190,769,000 44.086.000 Gold redemption fund 109.^6.000 10g.766,000 2,024,559.000 $2,067,052,000 Total gold r e s e r v e s $2,068,867,000 53.173.000 .69.818.000 Legal tender n o t e s , s i l v e r , e t c . 69.632.000 2,077,732,000" 2,136,870,000 Total re s er v e s 2,138,499,000 1,071,304,000 (Secured by Gov*t.war obligations 1,635,233,000 1,524,521,000 B i l l s discounted ( A l l other 541,943,000 212,185,000 230,317,000 239 J 50 .000 ! h 4 , . # 7 . 0 0 0 362,005,000 B i l l s bought i n epen market 2*202,085,000 1,552,997,000 2,116,843,000 Total b i l l s en hand . .29,563,000 27,096,000 27,096,00c U. S. Government bonds 197 ,000 192,000 U. S. Victory notes * 33,777,000 290,2^,000 341,655,000 U. S. C e r t i f i c a t e s of indebtedness 81,000 A l l other earning a s s e t s i,9i6,4i8,ooo 2,479,601,000 1,485,786,000 Total earning a s s e t s 12,315,000 13,143,000 Bank premises 107,119,000 Gold in t r a n s i t or in custody in f o r e i g n countries 15o,232,000 697,225,000 934,964,000 827.845.000 1,031,298 ,000 Uncollected items and other deductions from gross deposits 371.066.000 1,405,oop 11,160,000 11,343,000 9$ Redemption fund against F. R. bank notes 11.013 .000 9,511.000 11.007.000 A l l other resources 5,584,921,000 4 , 7 0 5,793,000 5,691,076,000 TOTAL RESOURCES L I A B I L I T I E S SU,996,000 78,553,000 85,140,000 Capital p a i d - i n 1,134,000 SI,OS?,000 81,087,000 Surplus 206,733,000 59,110,000 33,58^,000 Government deposits 1,469,603,000 I,757,64I,OOO 1,802,791,000 Due to members - reserve account 527,752,000 643,194,000 679,043,000 Deferred a v a i l a b i l i t y items 115.302.000 99.136.000 134.096,000 Other deposits, including f o r e i g n government credits 2,319,390,000 2,599,Q$afflQp 2,649,51U,000 Total gross deposits 2,245,429,000 2 , 6 1 1 , 6 9 7 , 0 0 0 2 . 6 2 1 , 2 2 8 , 0 0 0 F. R. n o t e s in actual c i r c u l a t i o n 27,672,000 223,565,000 228,169,000 F. R. bank 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 24.495.000 J 3,615,000 25,93c,000 A l l other l i a b i l i t i e s ^,7^.5,793,000 5 , 5 ^ , 5 ^ 1 , 0 6 0 5,691>076,000 TOTAL LIABILITIES _ ^ ^ j Ratio of t o t a l r e s e r v e s to n e t deposit and F. R, note 50.4 $ 53 -7 % 50.4 $ •Includes one-year l i a b i l i t i e s combined Treasury n o t e s Ratio of gold reserve 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 67.2 $ 6 0 . 1 56. 60.0 $ s e t t i n g aside 35$ against n e t deposit 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, September 1 4 , 1919; n o t e a r l i e r . St.590b WEEKLY STATEMENT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS SEPTEMBER 12, 1 9 1 9 . R E S O U R C E S ( I n thousands of d o l l a r s . ) B o s t o n New York P h i 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. Kans.Cy. D a l l a s San Fran. T o t a l 6,070 148,884 645 1 0 , 5 0 4 2,371 7,856 23,868 2,524 8,340 153 8,452 11,942 231,609 Gold c o i n and c e r t i f i c a t e s 7,779 38.593 537.723 128,740 40,565 66,183 30,982 9,366 95,383 11,979 30,052 16,217 Gold s e t t l e m e n t f u n d - F . R . B o a r d 6 1 , 8 8 4 577955 277,624 41,210 70,687 33,353 1 7 , 2 2 2 1 1 9 , 2 5 1 14,503 38,392 16,370 16,231 50,535 769,332 T o t a l g o l d h e l d by banks 289,854 74,071 133,835 34,008 41,485 291,945 54,721 31,967 40,227 17,405 102,933 1 , 1 9 0 , 7 6 9 Gold w i t h F e d e r a l R e s e r v e A g e n t s 7 3 , 3 1 8 13,218 25,000 13,025 1,182 5,480 5,746 27,957 5,743 1,750 5,088 2,887 .1,690 108.766 Gold redemption f u n d 154,490 Total gold reserves 592,47s 128,306 216,704 72,841 64,453 439,153 74,967 72,109 61,685 3 6 , 5 2 3 155,153 2 . 0 6 8 , 8 6 7 2<o 61 220 69,63; 8 5 2^ 474 1,255 1,099 5,272 L e g a l tender n o t e s , s i l v e r , e t c . 236 -iL3SZ 1 6 1 , 0 0 T 643,875 128,542 217,556 73,315 65,70S 440,252 80,239 72,170 6 1 ^ 0 5 3S,479 155,394 2 , 1 3 8 , 4 9 9 Total reserves B i l l s discounted: Secured by Government war 108,671 6 1 1 , 4 4 2 1 7 9 , 1 9 9 1 1 0 , 4 3 5 7 3 , 2 4 6 7 5 , 9 4 6 1 3 7 , 2 3 3 6 0 , t o o 3 6 , 4 6 3 4 4 , 9 6 0 3 4 , 3 1 2 51,614 1,524,521 obligations (a) 49,692 15,985 9,549 16.647 20,208 27,925 14,230 4,576 27,595 21,496 14,906 7 , 5 0 8 A l l other 7 ho Lj. 87,8:.' 7 6 ? . . GO 70,955 l.Ool 39-242 7,212 3,Q04 4 4 , 0 9 7 14,918_ 2 2 , 1 1 0 44,951 B i l l s bought i n open market ( b ) p 1 i f l b l , 1 3 0 7 3 2 , 0 8 9 1 9 6 , 2 4 5 1 5 9 , 2 2 6 9 7 , 1 0 5 1 0 0 , 0 5 8 2 0 9 , 8 5 5 8 9 , 5 4 s 6 3 , 1 5 9 9 7 , 7 9 9 5 6 , 3 0 T o t a l b i l l s on hand 27,096 3'j6 4,477 1,153 ll6 8,868 3,9b6 1,234 1,257 1,385 1,093 U. S. Government bonds 539 192 5 128 50 9 U. S. V i c t o r y n o t e s 3 4 1 , 6 55 7 , 2 0 0 1 2 , 9 6 4 1 0 3 , 6 4 2 1 7 , 0 6 8 8 , 0 1 3 1 1 , 8 0 2 2 1 , 4 7 1 2 1 , 4 0 2 2 7 , 2 3 1 92,752 9,695 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 lj T o t a l earning a s s e t s 8 2 6 , 1 4 8 224, Sol 1 8 1 , 7 2 1 1 0 8 , 0 3 4 l i 3 , 0 3 3 1 7 , 9 7 4 1 0 7 , 7 6 9 7 1 , 4 0 6 1 1 8 , 4 6 9 6 7 , 4 6 3 165,3.:,':• 2, 4 8 5 , 7 8 6 MOO 402 13,143 Bank p r e m i s e s 340 444 2,089 691 500 472 2,936 3,994 875 Gold i n t r a n s i t or i n c u s t o d y in foreign countries — — 158,232 — 158,232 U n c o l l e c t e d items and o t h e r 873,066 d e d u c t i o n s from g r o s s d e p o s i t s 206,934 82,646 62,320 52,748 3 7 , 0 2 4 109,915 51,559 19,807 79,131 39,785 47.793 77,404 5fo Redemption fund a g a i n s t F . R . 11.343 500 483 660 89 2 428 bank n o t e s 1,072 628 1,417 2,530 330 1,350 1,053 Si-'O 11,007 * 283 498 419 2,312 1.143 508 A l l other resources 6 7 2 563 1 . 5 2 2 1 . 4 5 2 795 • . TOTAl RESOURCES (a) Includes b i l l s discounted for other F . R . b a n k s , v i z . - 425,197 1 , 8 4 4 , 0 2 5 439,042 464,320 235,641 218,757 873,946 247,481 163,996 261,307 147,053 3 7 0 , 3 1 1 5 , 6 9 1 , 0 7 6 - - - 3,000 - 22,410 ( b ) I n c l u d e s bankers' a c c e p t a n c e s bought from o t h e r F . R . b a n k s : Without t h e i r endorsement 5,000 15,000 - 25,023 * I n c l u d e s Government o v e r d r a f t of $ 1 6 2 , 0 0 0 - - 20,534 45,410 45,557 Released for p u b l i c a t i o n Sunday morning September l 4 , I919; not e a r l i e r . WEEKLY STATEfffiMT OF RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE (In thousands of d o l l a r s . ) L I A B I L I T I E S Boston Hew York Phi l a . C l e v e l . Richm. Atlanta Chicago Capital p a i d - i n 7,034 22,060 7,757 9,3ol 4,225 3,373 12,059 Surplus 5,207 32,922 5,311 5,260 3,800 2,505 9,710 Government deposits . 5,503 163 2,219 1,693 2,70b 4,690 2,130 Due to members - reserve account 113,122 7^1.b'S) 102,Q1Q 127,127 57,257 4 4 , / S / 266,971 Deferred a v a i l a b i l i t y items 59,295 152,1.74 72,840 55,086 45,278 30,265 86,830 A l l other deposits including f o r e i g n government c r e d i t s 5,845 76,891 7,051 6,548 3.784 3 , 0 4 2 10,339 Total gross deposits F.R,notes in actual c i r c u l a t i o n F.R.barik notes in c i r c u l a t i o n net l i a b i l i t y A l l other l i a b i l i t i e s TOTAL LIABILITIES 184,065 205»316 21,376 2,199 981,111 185,025 190,454 109,025 - 25,915 1,931 7,000 ' E.R*no tea in a c t u a l c i r c u l a t i o n 82,784 366,270 115,584 19,821 1,807 8,754 1,191 12,402 1,026 35,815 2,827 16,278 980 70,882 141,351 82,927 140,036 2 , 6 4 9 , 5 1 4 79,742 48,982 210,372 2,b21,22i5 93,48o 7,297 1 7 , 2 4 l 132—. ^>368 8,909 885 8,319 1.9,9 223,1.-9 425,19? 1,84^,025 439,042 464,320 235,641 218,757 873,946 24;?,481 163,996 261,307 147,053 370,311 5 , 6 9 1 , 0 7 6 Contingent l i a b i l i t y a s endorser on Discounted, paper r e d i s c o u n t e d with other "banks _ F+R. n o t e s o u t s t a n d i n g EVR. notes held by bank St.uouis Minn. Kans.Cy. D a l l a s San Fran.^ I s i a l 4.03" 3,026 3,904 3,321 5,015 S5,l4o 2.5SQ 2,320 3,957 2,029 4,^7% 81,OS/ 2,542 4,198 2,745 4,699 33,^34 62,441 53,7-17 78,275 44,275 100,017 1 , 8 0 2 , 7 9 1 46,089 14,184 54,632 33,813 28,357 679,043 . . . . , 4,512 2,981 4,24o 2,094 6,763 134,096 752,893 213,103 237,017 108,646 116,367 447,265 108,039 46,042 8,997 St.590c OF BUSINESS SEPTEMBER 12, I919. - 25,000 8,4l0 - ~ - - 5>000 - 45* 4 l 0 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 2X2,505 7.189 841,085 223,079 248,142 113,924 121,196 478,640 128,186 88.792 9.976 11,125 5,27 8 4.829 31,375 20,14? 81,79^ 2,056 99>384 5,8^8 52*029 229,57^ 2 , 8 3 0 , — o 3,047 19^206 208,^9. 205> 3l6 752,89^ 213,103 237 >017 108,646 116,367 447,265 108*039 79 >7^2 93,^6 48, 9^2 210,372 2 ^ 6 d ^ 2<_8 DISTRIBUTION 0? BILLS AND U . S . CERTIFICATES OF INDEBTEDNESS BY MATURITIES, Within 15 days 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 1,^3,535 99 , 259 121,321 l 6 to >0 days 49,019 108,054 11,659 31 to oO days 166,970 111,087 19,676 6 l to 90 days 88,579 43,605 18,032 Over 90 days 6,735 - . 170,967 Total 3- ,°55 Released for p u b l i c a t i o n Sunday morning September 14, 1919; not e a r l i e r . St.590d STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS SEPTEMBER 12, 1919". (In thousands of d o l l a r s . ) Boston FEDERAL RESERVE NOTES: Received from Comptroller Returned to Comptroller Chargeable to F. R. Agent In hands of F. R. Agent Issued to F,R. bank l e s s amount returned to F.R, Agent for redemption New York P h i l a . C l e v e l . •- Richm. A t l a n t a Chicago St.Louis Minn. Xans.Cy. D a l l a s San. Fran. Total ,•355,300 1,753,000 444,750 405,660 246,640 250,000 718,720 236,100 138,380 179,120 109,200 328,140 5,195,640 146,095 180,315-194,921 I33^59g_l03.758 239,805 27,300 212,505 COLLATERAL SECURITY FOR OUTSTANDING- NOTES: Gold coin and c e r t i f i c a t e s on hand 67,096 40.^^-91^62.1,962,997 972,685 249,859 274,962 142,882 180,405 511,560 148,816 95,173 112,024 6 9 , 0 9 4 236,278 3 , 2 3 2 , 6 4 3 131,000 20,630 13,375 12,640 17,065 841,685 223,079 248,142 113,924 121,196 478,640 128,186 81,798 99,384 52,029 229,57% 2 , g ^ o , i 4 6 26,780 183,740 25,920 28,958 69^595 207,l6o__2%^4__43,207 59,209 32,920 2,500 35,125 13,052 8,831 6,700 - 402,407 243,248 Gold redemption fund 13,318 16,114 11,182 13,710 3,008 Gold Settlement Fund - F.R,Board 60,000 90,000 62,889 90,000 139,187 551,831 149,008 109,307 212,505 841,685 223,079 248,142 113,924 121,196 478,640 128,186 81,798 99,384 52,029 229,578 2 , 8 3 0 , 1 4 6 161,130 731,681 150,449 157,358 92,112 57,339 97,799 56,302 142,024 2 , 0 2 5 , 9 9 4 E l i g i b l e paper,minimum required Total AMOUNT OF ELIGIBLE PAPER DELIVERED TO F. R, AGENT 8,921 3,791 2,115 3,867 3,390 11,689 93,090 31,000 37,000 283,024 50 „930 16,800 36,360 5,184 91,244 854,431 79,916 79/711 186,695 7 3 , 4 6 5 , "49.831 59.157 1,985 87,494 209 J 2 4 82,582 34,624 126.645 1.639.377
@FedFRASER