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STATEMENT ]OR THE PRESS

Released for pubUcation
Saturday morning, De~. 1;
not earlier.

St.3S20.
Federal Reserve Board
Noveumer 30, 1923,

OONDITION OF FEDERAL RESERVE BANKS
Increases in all classes of ea.rning assets, including $48,200,000 in die~~o\lllt~
bills, $4,500,000 in aec.eptan~es purchased in open market, and $~1,100,000 iri u. s~.
Government securities, together with an increase of $23,200,000 1n Federal reserve
note circulation and a decline of $15,600,000 in cash reserves, are shown in the
Federal Reserve :Board's weekly r.onsolioated statement of condition of the Federal.
reserve banks as at close of bu.siness on November 28, 1923. The reserve ratio 0.~
clined from 77.1 to 76.4 per "ent, the latter ratio being identical with that repQ~
ed a year earlier.
The Federal Reserve Bank of Chicago reports the largest in~1rease in holdings
of diselounted bills- $21,300,000, Bosto~ reports an increase of $19,500,000, New
York- an increase of $6,200,000, ano Philadelphia, Atlanta and San Francisco each
an increase of $4,4oo,ooo. Declines of $3,700,000 are shown for Bicl:mond, $3,600,000
for St. Louis, $3,500,000 for Minneapolis, and an aggregate decline of $1,200,000
fpr Cleveland, Kansas City and Dallas. Holdings of paper se~~ured by U. s. Government
obligations increased by $41,000,000 and on November 28 aggregated $38~,600,000. Of
this a.u1ount, $248,900.000 was secured by Liberty and other U. S. bonds, $llS.,500,000
by Treasury notes, and $15,200,000 by certificates of indebtedness.
·
The largest increase .~n . ·Federal reserve note cir~1u1ation- viz., by $9,900,000,
is repor:ted by the Federal Reserve Bank of Philadelphia, Cleveland reports an in,.
crease of $7,900,000, Boston- an increase of $4,100,000, and Chicago - an inar.ase
of $3,200,000, while St. LoJli,s, Ricbnond and Kansas City show smaller increaaes
totaling $4,6oo,ooo. D9creases of $3,300,000 and $l,SOO,OOO, respectively, are
shown fof New York a.nd San Francisco, and a total decrease of $1,300,000 for the
three rel)laining banks.
Gold reserves declined by $2J,OOO,OOO during the week. Decreases of
$26,100,000, $16,200,000 and $11,300,000 are reported by New York, Chi~ago, and
Boston, respectively, while Cleveland shows a.n increase of $11,000,000 1 Bichrr1ond an
inal'ease of $10,500,000, and Philadelphia and St. Louis each an increase of
$9,200,000. Reserves other than gold inCireased by $7,4oO,COO, and non-reserve aash
declined by $13,100,000.
A summary of c-hanges in the principal assets and liabilities of the reserve
banks, as compared with a week and a year ago, follows':
Increase or
~arease
In millions of dollars
s;.m~e

...

Total reserves .
Gold reserves
To tal earning as sets . . .
. . . .
Discounted bills, total . . . . . . . .
Secured by U. S. Government obligations
Other bills disCiounted . .
Purchased bills

. . . . . . . .

Uhited States securities, total
Bonds and notes . . . . . . .
U. s. Certificates of indebtedness .
Total oeposi te . . . . . . .
Merr~ers1 reserve deposits
Gover:nmen t deposits
Other deposits
• . . . .
F~Qeral reserve



notes in cirCiulation .

..

...
..

Nov. 21, 1923

- 15.6
- 23.0

!i>v. 29 .~ ·

.;. 5. 5
+39.6

.,. ,·,·:·_,,.

Released for publication Saturday morning, DJcember 1, 1923; not earlier.
RESOURCES AND LIABILITIES
OF THE TY'ELVE FEDEPAL RESERVE BANKS cm.1BINED
(In thcusands of d cllars)

RE S 0 UR CE S
Gold and gold certificates • , • . . . . .
Gold settlemmt fund - F. R. Board • . • •

...

I

I

·~

f.

r

!•

I

..

976,957
2,098, 784
___22.Jl5

948,178
2, 048, OS4
76,596

...
. .. ... . ..
. . . . .. ..

3,112,436
84,846
3,197,282
58,754

3,135,456
77 I 425
3,212,£81
'71,881

3,072,853
____!?3 l 9~g_
3,202,s1o

382,643
411,738
289.004
1,083,385
71,341
13,119
_ _154

341,635
404,553
284,554

..

I.

NovJ.L_12Sl Nov. 29,1922
376,216
303,219
6001 741
6441959

946,647
2,104,845
60,944

Total gold held by banks •
Gold with Federal Reserve Agents , ••
Gold redemption fund • .
• , .
Total gold reserves • , . • .
Reserves other than gold • , • • ••
..
,
Total reserves
.
Non-reserve cash • .
Bills discounted:
Sec. by U.S. Government obligations , •
Other bills discounted . • • . •
·Bills bought in open market • • , • , , •

i

Nov. 28. !923
359,568
5871079

St. 3820a

Total bills on hand • • • •
U. S, bonds and not.;s • • • , • •
U. S. Certificates of indebtedness
Municipal warrants • • , . • , ,
Total earning assets
Bank premises • , , • • ,
5% Redemption fund against
F. R. Bank notes , , , • . • , •
Uncollected i terns • • • • , , , ,
All other resources , • • • • . •
•

TOTAL RESOURCES

i

•

•

r

t

•

t

• • • •
, •
•

...

,
• .
• • , ,

. ........

*
315,280
334,816
.l_59, 22§_

56,649

1,030, 742
68,332
5,031
51
1,104,156
56,559

1,213,307
46,282

28
603,579
13,987

28
680,640
13,828

3,130
599,826
15,050

5,098, 278

5,139,973

5,080, 905

110,095
218.369

110,103
215,369

107,207
215,398

26,072
24,380

33,449
1,807,631
19,143

1,941,479
2, 223,074

. 1,860,223
2,329,814

559,044
__25,379

502
621,692
24,754

20,863
520,497

5,098,278

5' 139.973

24,655

25,045

1, 167,999

909' 322
162,336
142,125
24

L I ABI L I T I E S
Capital paid in • • • • • • , • • , ,
Surplus , , • • •
'
Deposits:
Government • • • , • . , , , • ,
Member bank·- reserve account
Other deposits • • • • • , ,

.

.

.. .. ..

.. .. .. . .

Total de:E.Qsits , • ,
F. R, notes in actual circulation • • • •
F, R. Bank notes in circulation net liability , • , • • • •
• •
Deferred availability items • • • • , •
All other liabilities , • • • • ,
TOTAL LIABILITIES • • • • •
Ratio of total reserves to deposit and
F. R. note liabilities combined • • •

1-

Contingent liability en bills purchased
for foreign correspondents , , • • • ,

34,803
1,881,025
_E, 765
1,938,593
2, 246,300

49S

1, 891,027

*Not shown separately prior to January 1923.

c.
..

.




26,098

31,512

Released for pu0:;.il.:a.tion Saturday morning, December 1, 1923; not earlier.
RESOURCES Al'ID LIABILITIES OF THE FEDERAL RESERVE BANKS AS .AT CLOSE

~t.3820b

OF BUSINESS, NOVEMBER 23, 1923.
(In thousands of dollars)

RESOURCES

Cleve, Rich. Atlanta Chicago St.Louis Minn. Kana,Cy, Dallas San Fran.
Total
'Boston New York Phil a.
Federal Reserve Bank of
3,170
4,709
6,795
11,935
21,195
51,678
6,
595
13,439
5,235
359,568
21.213 171,972 39,632
Gold and gold certific.ates
567,079
Gold settlement fund - F.R.Tioard 50,345 125,!!47 32,686 83,012 43,166 14,071 79,627 38,254 27,745 36,54o 15,311 36 .. 475.
946,647
71,556 297,819 72,318 96,451 48,401 20,666 131,305 42,963 36,54o 41 '710 27.246 59,670
Total gold held by banks
168,430 633,978 175,701 219,4o3 63,4o5 64,598 4oo,493 36,892 46,714 31,869 27 ,354t 236,008 2,104,845
Gold vvith F. R• .Agents
6,170 13,562 1, 750 4,410 5,938 4,387 4,046 1,992 5, 709 1,930 3,798
7,252
6o ,944
Gold redemption fund
247 ,24o 937,967 261,581 317,604116,216 91,202 5.36,185 83,901 85,246 79,288 56,530 299,476 3,112,436
Total gold reserves
26,180 8,127 .5, 663 3,36o 6,600 6,789 9,009 1,010 3,861 6,262 2,464
64,646
5,521
Reserves other than gold
252,761 964,147 269,708 323,267119,576 97,8b2 542,974 92,910 86,256 83,149 62,792 301,94o 3,197,282
Total reserves
12,009
7,372 2,259 2,94o 1,336 7,953 5,425 5,460 1,316 3,449 2,218 7,017
No1~reserve cash
581754
Bills disoounted:
Secured by U.S.Govt.obligations25,695 102,644 39,869 34,645 21,914 24,931 62,968 20,885 2,613 23,593 3,030 19,656 382,643
29,199 15,817 25,622 32,925 62,136 51,057 45,539 18,632 35,899 11,989 38,583 411,738
44,34o
Other bills discounted
522
710 43,982 18,032 289,004
Bills bought in open market
51
31,910
87,993 23,119 29,944 2,628 11,006 39,107
102,145 219,836 78,605 90,211 57,467 98,073 153,132 66,946 21,296 60,202 59,001 76,271 1,083,385
Total bills on hand
226 6,913
4,028
7,865 6,675 6,280 9,185
U. S. bonds and notes
6,310 12,565 9,953 1,341
7l ,341
2 2,102
310
U. S.Certifi~ates of indebtedness 587
9,294
236
33
50
13,119
Muni~ipal warrants
103
51
154
Total earning assets
106,760 235,44o 91,511 100,974 53,308 98,352 162,147 66,946 29,211 67,113 65,281 85,456 1,167,999
Bank premises
4,434
14,153
745 9,853 2,617 2,923 8,715 1,269 1,935 4,970 1, 953 3,082
56,649
5% Rederr~tion fund against
F. R. Bank notes
28
28
Uncollected items
52,615 128,011 53,151 58,551 60,852 26,076 72,720 34,136 14,978 37,043 28,721 36,725 603,579
All other resources
1,160
66o
140
38 2,716
760 3,299 3,636
257
511
435
375
13,987
TOTAL RESOURCES

w.



428,719 1,350,283 417,631 495,960 24},624 233,766 792,492 200,759136,412 196,434164,292 437,856 5,098 ,t:ns

St.3520c
Saturday morning, E'e~ember 1, 192,3; no·G earlier,
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE B~r.KS AT CLOSE OF BUSINESS NOVEMBER 25, 1923,
L I AB I L I T I E S
(In thousands of dollars)
Total
Phila,
New
York
Cleve,
Boston
Bich. Atlanta Chicago St.Louis ~llirm. Kans . Cy. Ialla s San Fran.
Federal Reserve Bank of
4,196
7,852 110,095
4,545
29,413 9,936 12,345
3.498
7,890
Capital paid in
5, 756 4,426 15,224 5,005
218,369
15,263
7,496
16,312
59,500 15,749 23.495 11,285 8,942 30,398 9,665 7,473 9,455
Surplus
Deposits:
34,503
2,456 3,654
1,129 2,791
2,545
Government
6,305 1,955 2,480 3,595 1,989 3,624 2,247
Member bank- reserve account 125,791 701,151 113,791 156,430 63,277 54,278 269,285 68,076 46,707 72,996 59,716 149,497 1.881,025
518
4,3 74
22 '765
Other deposits
166
425
12,533
169
170
738
394- 1,195
1.4o3
377
To tal d epo sits
128,508 720,319 116,14o 16o,l08 67,035 56,437 274,312 70,748 48,213 76,525 62,720 157,525 1,938,593.
F,R.notQs in actual circulation 224,516 429,997 222,613 244,680 102,809 142,695 4o5,059 77,14o 60,973 64,336 56,596 214,853 2,246,300
F,R. Bank notes in circulation. 498
495
net liability
Deferred availability items
50,272 105,674 45,180 53,100 55,203 19,468 64,956 36,687 14,787 4o,277 30,305 4o,l35 559,044
All other liabilities
1,221
5,050 2,013 2,229 1,530 1,795 2,513 1,511 1,468 1,310 2,481
2,228
25,379
TOTAL LIABILITIES
425,719 1,350,253 417,631 495,960 243,624 233,766 792,492 200,759136,412 196,454164,292 437,556 5,095,275
Batio of total reserves to deposit
and F. R. note liabilities
combined, per cent
71.6
76.4
81.1
70.4
62.8
52,6
79.6 79.9
79.0 59.0
79.9
Contingent 1iabili ty on bills
purchased for foreign
correspondents
8,457
2,130
2,675 1,285 1,015 3,443 1,090
842 1,065
24,655
892 1,758
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. notes outstanding
702,607 24o,809 265,596 112,334 154,681 445,232 91,267 64,539 76,853 6o.6o4 262,832 2,719,721
F. R. no.tes held by banks
272,610 18,196 20,916
9,525 11,983 43,143 14,127
37566 12,517
4,008 47,979 473,421
F.R.notes in actual circulation 224,516 429,997 222,613 244,680 102,509 142,698 4o5,089 77,140 60,973 64,336 56,596 214,853 2,246,300
DISTRIBUTION OF BILLS, U. S, CERTIFICATES OF INDEBTEDNESS .AND MUNICIPAL WARRANTS BY MATURITIES
From 91 days
Within 15 days 16 to 30 days
31 to 60 days 61 to 90 days
to 6 months
Over 6 months Total
104,881
Bills discounted
48,237
24,024
946
794,381
542,731
73,512
Bills bought in open market
35,172
38,265
63,376
6,760
289,004
45,431
1
U. S. Certificates of indebtedness
679
9,881
13,119
2,555
Municipal warrants
10
31
154
113

Released for

publi~ation

w.




~----

--.~

-

.L

J

l\eleased for publication,

Saturd~ ~::ren:ing,

t

December 1, 1923, not earlier

St. ~Od

FEDERAL RESERVE AGENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, NOVEMBER 28, 1923.
(In thousands of dollars)
Boston New York Phila.

Federal Reserve .Agent at
RESOURCES
Federal Reserve notes on hand
Federal Reserve notes outstanding
Collateral security for Federal
Reserve notes outstanding: .
Gold and gold certificates
Gold redeffiptian fund
Gold fund - F. R. Board
Eligible paper .Amcunt required
Excess amount held

TOT.At

35,300
10,130
123,000

Cleve.

Rich.

Atlanta Chicago

St.Louis Minn. Kans,Cy. Dallas San Fran.

Total

313,260 38,360 49,820 31,010 76,337
702,&::l7 240,809 265,5961.12,3314 154,681

128,440 24,390
448,232 91,267

9,965 31,753 24,644 62,700 S82,429
76,553 6o,6o4 262,832 2,719,721

235,531 7,000 8,780
2,400
27,447 12,312 13,6~3 3,610 5,198
371,000 156,389 197,000 59,795 57,000

ll, 080 13,052
7,391
320,534
8,849 1,812 1,662 2,5C9 3,463 16,033 106,648
391,644 24,000 32,000 29,36o 16,500 219.975 1,617,663

~.539

~

70,937
68,6~::: 65,108 46,193 48,929 90,083
47,739 54,375 17,&~:5 44,984/33,250 26"324
. -3::..;1;;;..::'. . ;2.. .;08_ __;;,12_:3:,.:,~5_6_6__1.:..,4...::9:..::::5_4_2.:...:,_434 7t 549 7. 754 105,184 12,551 1, 495 14, 76'i 24,482 49,006
601.692 1,842,040 521,473 623,446 263,227 393,433 1,130,088 219,475 140,533 200,22, 170,334 ·637,370

614,876~.2..

421,5}8/

6,743,~

v

1
L I AB I L I T I E S
Net amount of Federal Reserve notes
received from Comptroller of th.::l Curr:mcy
Collateral received from
Federal Reserve Bank:
Gold
Eligible paper

TOTAL

c.



331,117 1,015,867 279,169 315,416 143,344 2}1,018

576,672 115,657 74;5o4 108,6o6 85,248 325,532 3,602,150
£'~

168,430
102,145

633,978 175,701 219,403 63,405 64,593
192,195 66,6o3 88,627 56,478 97,867

400,493 36,892 46,714 31,869/27,354 236,oos 2,lo4,845 1
152,923 66,926 19,320 59, 7~ 57.732 75,830 1,036,394/

601,692 1,842,040 521,473 623,446 263,227 393,433 1,130,088 219,475 140,538 200,22/ 170,334 637,370

,

{

7

6,743,3~

v