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Released f o r publication Friday morning, Aug. 2; not e a r l i e r . STATEMENT FOR THE PRESS St. 6275 Federal Reserve Board August 1, 1929. CONDITION OF FEDERAL RESERVE BAMKS The consolidated statement of condition of the Federal reserve "banks on July 31« made public by the f e d e r a l Reserve Board, slfows increases for the week of $11,800,000 in holdings of discounted b i l l s , of $5,700,000 in b i l l s bought in open market and of $1,600,000 in Government s e c u r i t i e s . Cash reserves increased $16,300,000, while member bank reserve deposits declined $1,600,000, Government deposits $2,800,000 and Federal reserve note circulation $1,000,000. Total b i l l s and s e c u r i t i e s were $19,300,000 above the amount held on July 24. Holdings of discounted b i l l s declined $12,200,000 a t the Federal Reserve Bank of Hew York, and increased $12,300,000 at Chicago, $5,300,000 a t St. Louis, $4,900,000 at Kansas City, and $11,800,000 a t a l l Federal reserve banks. The System's holdings of b i l l s bought in open market increased $5,700,000 and of . Treasury c e r t i f i c a t e s $2,000,000, while holdings of U. S. bonds and Treasury notes were p r a c t i c a l l y unchanged. Federal reserve note c i r c u l a t i o n increased $2,600,000 a t Boston, and decreased $4,200,000 at Cleveland, $3,600,000 at Chicago and $1,000,000 at a l l Federal reserve banks. A summary of the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the reserve banks, together with changes during the week and the year ending July 31, 1929, follows; Increase or decrease since July 31,1929 July 24. 1929 Aug. 1,1928 (in thousands of d o l l a r s ) Total reserves Gold reserves 3,109,419 2,924,063 Total b i l l s and s e c u r i t i e s . . . . . B i l l s discounted, t o t a l Secured by U.S.Govt, obligations Other b i l l s discounted B i l l s bought in open market . . . U.S.Government s e c u r i t i e s , t o t a l . Bonds Treasury notes . C e r t i f i c a t e s of indebtedness . . - 16,324 19,669 + + 353,854 324,525 I,308,oi4 + 19,266 - 155,794 1,075,714 592,783 482,931 + + + 11,758 8,047 3,711 74,567 + 5,725 + 1,583 37 376 1,996 — 64,380 12,473 6,898 45,009 1,015 + 166,698 4,564 1,633 2,789 + 4,631 11,780 15,502 147,283 42,626 80,779 23,878 Federal reserve notes i n c i r c u l a t i o n . 1,779,388 Total deposits Members' reserve deposits Government deposits 2,397,563 2,355,284 14,468 C . . . . . — - + - - + - - - 10,062 62,717 52,655 91,312 Released f o r p u b l i c a t i o n Friday morning, August 2,1929; not e a r l i e r . St. 6275a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) July 31,1929 J u l y 24.1929 Aug. 1. 1928 RESOURCES Gold with Federal reserve agents . . . . Gold redemption fund with U.S.Treasury . Gold held exclusively against F.R.notos Gold settlement fund with F. R. Board . Gold and gold c e r t i f i c a t e s held by banks Total gold r e s e r v e s Reserves other than gold 1,479,499 73,580 1,553,079 566,970 704,0l4 2,924,063 185,356 1.504,983 88,842 1,593,825 608,264 741,643 2,943,732 182,011 1,117,466 63,309 1,180,775 690,048 728,715 2,599,538 156,027 Total reserves 2Ton-reserve cash B i l l s discounted: Sec. by U.S.Government obligations . . Other b i l l s discounted 3.109,419 66,66l 3,125,7^3 75.S04 2,755,565 60,172 592,783 482,931 584,736 479»220 655,500 430,276 Total b i l l s discounted . . . . B i l l s bought in open market U. S. Government s e c u r i t i e s : Bonds . Treasury notes . . C e r t i f i c a t e s of indebtedness . . . . Total U.S. Government s e c u r i t i e s . Other s e c u r i t i e s 1,075,714 74,567 1,063,956 68,842 1,085,776 165,879 42,626 80,779 23,878 147,283 10,450 42,663 81,155 21,882 145,700 10,250 55,099 87,677 68,887 211,663 4g0 Total b i l l s and s e c u r i t i e s . . . Due from foreign banks Uncollected items Bank premises All other resources 1,308,014 726 678,772 52,795 10,285 1,288,748 728 718,180 58,725 10,454 1,463,808 573 651,501 60,115 8,463 5,232,672 5,278,382 5,000,197 F. R. notes in actual c i r c u l a t i o n . . . Deposits: Member bank - reserve account . . . . Government Foreign bank Other deposits 1,779,388 1,780,403 1,612,690 2,355,284 l4,46S 5,796 22,015 2,356,917 17,257 7,376 20,577 2,343,504 29,970 9,523 19,197 Total deposits . . . . . . . Deferred a v a i l a b i l i t y items Capital paid in . All other l i a b i l i t i e s 2,397,563 611,362 161,565 254,398 28,396 2,402,127 651,948 l6l,406 254,398 28,100 2,402,194 587,799 143,009 233,319 21,186 5,232,672 5,278,382 5,000,197 TOTAL RESOURCES TOTAL LIABILITIES . . . Ratio of t o t a l reserves to deposit and F. R. note l i a b i l i t i e s combined . . . 74.4# 74.7# 68.6# Contingent l i a b i l i t y on t i l l s purchased f o r foreign correspondents 458,477 446,980 306,285 C. ' RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH JULY 31, (in thousands of d o l l a r s ) Total Boston New York Phi l a . CI eve. Rich. Atlanta Chicago Gold with Federal Reserve Agents 1,479,499 127,339 223,264 128,592 160,671 47,301 99,794 329,611 Gold redemption fund with U.S.Treas. 73,580 6,956 19,260 6,442 3,771 4,096 3,510 4,571 Gold held exclusively against F. R. notes 1,553,079 134,295 242,524 135,034 1 6 4 M 2 51,397 103,304 334,182 Gold settlement fund with F.R.Board 666,970 64,636 156,832 52,067 96,068 27,024 18,128 109,295 Gold and gold c e r t i f . held by "banks 704,014 26,373 432,372 29,456 40,024 6,485 4,102 103,127 Total gold reserves 2,924,063 225,304 831,728 216,557 300,534 84,906 125,534 546,6o4 Reserves other than gold 76,204 9,932 . 9,660 6,562 185,356 11,673 7,440 26,450 Total reserves 3,109,419 236,977 907,932 226,489 310,194 91,468 132,974 573,054 Non-reserve cash 66,661 8,944 18,855 1,723 5,622 7,261 4,533 3,759 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s 282,650 45,053 45,527 21,162 12,773 51,968 592,783 37,637 Other b i l l s discounted 482,931 34,907 103,299 30,794 27,626 38,385 59,559 62,237 Total b i l l s discounted 1,075,714 72,544 385»949 75,847 73,153 59,547 72,332 114,205 B i l l s bought in open market 74,567 10,254 21,105 2,036 5,568 9,482 3,691 2,597 U. S. Government s e c u r i t i e s : 42,626 Bonds 689 54s 155 1,152 585 17 19,937 Treasury notes 80,779 1,592 8,835 26,816 H,927 657 3,038 3,097 C e r t i f i c a t e s of indebtedness 23,878 1,055 13,445 1 2,264 1 7,038 Total U.S.Govt, s e c u r i t i e s 147,283 3,266 25,527 16,458 27,365 1,809 3,056 25,298 Other s e c u r i t i e s 10,450 2,600 — 300 Total b i l l s and s e c u r i t i e s 1,308,014 86,o64 435,181 95,202 104,209 63,392 80,956 148,985 Due from foreign banks 726 , 218 54 70 28 100 74 34 Uncollected items 678,772 69,256 209,795 51,058 63,046 145,266 19,781 82,047 Bank premises 16,087 1,762 58,795 3,702 2,744 8,529 6,535 3,395 66 All other resources 10,285 580 7O4 465 4,894 1,173 279 S t . 6275b RESOURCES «"» TOTAL RESOURCES St.Louis Minn. Kans.Cy. Dallas San Fran. 16,866 60,682 6l,642 20,769 202,968 5,335 2,64g 9,704 3,0^9 4,237 22,201 63,331 71,346 28,884 15,326 50,343 7,042 5,186 9,243 60,328 85,699 126,875 2,806 4,278 10,205 70,533 4,776 88,505 131,153 1,762 1,476 28,735 10,288 35,483 9,952 64,218 20,240 1,664 106 7,125 6,500 - •13,625 ~ 77,949 29 26,678 3,988 395 4,540 3,827 65 8,432 3,600 23,818 16,970 11,439 52,227 5,425 57,652 3,115 207,205 31,397 29,165 267,767 14,721 282,488 4,835 14,192 13,665 29,133 22,254 24,308 34,127 36,446 37,973 63,260 883 6,509 10,672 — - 1,500 7,813 65 3,223 11,337 9 11,045 11,402 1,200 1,250 33,936 38,829 56,777 86,534 24 24 18 53 13,388 42,861 22,131 33,465 2,110 4,i4o 3,881 1,922 448 409 193 679 5,232,672 4o5,o63 1,588,648 376,583 488,990 208,553 246,999 820,680 184,34s i 4 o , l i 2 218,962 142,069 411,665 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH JULY 31, I929 (In thousands of dollars) St. 6275c Total Boston New York P h i l a . Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,779,388 156,935 308,008 151,644 194,72s 76,300 149,748 330,798 61,150 64,332 74,295 43,039 168,411 Deposits: Member bank - reserve account 2,355,284 145,220 958,870 135,766 187.825 65,853 59,944 350,012 77,078 51,958 91,755 61,752 169,251 Government 14,468 2,117 1,330 274 1,313 2,010 98 1,750 l,o4i 945 1,509 217 1,864 Foreign "bank 5,796 415 1,887 539 572 258 219 768 224 i4o 185 I85 4o4 Other deposits 22,015 105 8,809 42 1,084 107 270 1,786 284 208 164 43 9,113 Total deposits 2,397,563 147,857 970,896 136,621 199,794 68,228 60,531 354,316 78,627 53,251 93,613 62,197 180,632 Deferred a v a i l a b i l i t y items 611,362 68,117 171,058 46,733 58,978 43,913 18,491 74,235 26,866 11,328 36,684 22,897 32,062 Capital paid in 161,565 10,549 60,132 15,662 15,434 6,177 5,403 19,868 5,185 3,084 4,292 4,464 11,315 Surplus 254,398 19,619 71,282 24,101 26,345 12,399 10,554 36,442 10,820 7,082 9,086 8,690 17,978 All other l i a b i l i t i e s 28,396 1,986 , 7,272 1,822 2,711 1,536 2,272 5,021 1,700 1,035 992 782 1,267 TOTAL LIABILITIES 5,232,672 405,063 1,588,648 376,583 488,990 208,553 246,999 820,680 184,348 1*10,112 218,962 142,069 411,665 Reserve r a t i o (per cent) 74.4 77.8 71-0 78.6 80.5 63.3 63.2 83.6 50.5 75.3 78.1 54.8 80.9 Contingent l i a b i l i t y on b i l l s purchased f o r foreign correspondents 458,477 34,153 136,792 44,307 47,076 a , 2 3 0 17,999 63,229 18,461 11,538 15,231 15,231 33,230 F.R.notes on hand (notes r e c ' d from F.R.Agent l e s s notes in circulation) 560,523 46,756 230,937 34,327 27,846 15,166 27,716 44,598 13,430 9,957 9,054 13,655 87,081 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes r e c ' d from Comptroller 3,763,896 271,186 921,690 259,512 305,344 184,420 313,623 618,576 120,930 152,928 142,659 79,136 393,912 F.R.notes held by F.R. Agent 1,423,985 67,495 382,745 73,541 82,770 92,954 136,159 243,180 46,350 78,639 59,290 22,442 138,420 F.R.notes issued to F.R.Bank 2,339,911 203,691 538,945 185,971 222,574 91,466 177,464 375,396 74,580 74,289 83,349 56,694 255,492 Collateral held as security f o r F.R.notes issued to F.R.Bank: Gold and gold c e r t i f i c a t e s 371,153 35,300 169,63s 30,000 38,800 16,190 9,500 7,800 14,167 14,758 35,000 Gold redemption fund 100,136 19,039 13.626 11,735 H,87l 9,111 3,894 2,611 2,066 3,515 4,282 4,011 14,375 Gold fund - F. R. Board 40,000 86,857 110,000 22,000 86,4oo 327,000 1,008,210 73,000 7,000 43,000 57,360 2,000 153,593 E l i g i b l e paper 1,102,295 82,644 380,298 63,919 76,610 56,518 77,793 123,315 64,170 21,834 37,195 44,364 73,635 Total c o l l a t e r a l 2,581,794 209,983 603,562 192,511 237,281 103,819 177,587 452,926 81,036 82,516 98,837 65,133 276,603 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 3 \ Over 6 months B i l l s discounted 1,075,714 #,787 U7,tei 87,375 75,010 20™j? 197 74,567 B i l l s bought in open market 47,368 10,457 9,432 6,672 638 23,878 C e r t i f i c a t e s of indebtedness 12,965 9,242 1,278 393 300 Municipal warrants 300 L I A B I L I T I E S
@FedFRASER