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STATEMENT FOE THE PEESS Released, f o r p u b l i c a t i o n Sunday morning, Bo combo r l4, 1919) not e a r l i e r « ' St.758 F e d e r a l Reserve Board, December 13, 19^9• CONDITION OF FEDERAL RESERVE BANKS. Aggregate i n c r e a s e s of about 4 8 m i l l i o n s in e a r n i n g a s s e t s and a corresponding i n c r e a s e i n combined, d e p o s i t and n o t e l i a b i l i t i e s a r e i n d i c a t e d , i n the F e d e r a l Reserve B o a r d ' 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 December 12, 1919. ct As a g a i n s t./r e d u e t i o n of l4»9 m i l l i o n s i n war p a p e r on hand the banks r e p o r t i n - c r e a s e s of 4 6 , 2 m i l l i o n s i n o t h e r b i l l s d i s c o u n t e d , of 27.3 m i l l i o n s i n acceptances p u r c h a s e d i n open m a r k e t , and l i q u i d a t i o n of 10*6 m i l l i o n s of T r e a s u r y c e r t i f i c a t e s h o l d l a r g e l y f o r t h e accommodation of non-member b a n k s . Of the t o t a l war paper h o l d by t h e Chicago and D a l l a s banks I 5 . 9 m i l l i o n s r e p r e s e n t p a p e r d i s c o u n t e d f o r other F e d e r a l Reserve banks, w h i l e t o t a l acceptance h o l d i n g s of t h e s e two and f i v e other Reserve banks i n c l u d e 113*4 m i l l i o n s , as a g a i n s t 124.3 m i l l i o n s t h e week b e f o r e , of b i l l s p u r c h a s e d from o t h e r Reserve b a n k s . Government d e p o s i t s show a g a i n of 49*7 m i l l i o n s , w h i l e members' r e s e r v e dep o s i t s d e c l i n e d 12 «6 m i l l i o n s f o r the week. 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 gov- ernment c r e d i t s , went up 9*4 m i l l i o n s , the " f l o a t " c a r r i e d by the banks i n c r e a s e d about 22 m i l l i o n s , w h i l e tho amount due f r a a f o r e i g n banks d e c r e a s e d about 0 . 5 m i l lion. As a r e s u l t n e t d e p o s i t s work out a t 24.5 m i l l i o n s more t h a n the week b e f o r e . F e d e r a l Reserve n o t e s i n c i r c u l a t i o n show a f u r t h e r i n c r e a s e of 2 6 . 1 m i l l i o n s , while F e d e r a l Reserve bank n o t e c i r c u l a t i o n i n c r e a s e d about 1 m i l l i o n . Gold r e s e r v e s show a gain f o r the week of 9 m i l l i o n s , of which about S m i l l i o n s r e p r e s e n t s a not a d d i t i o n t o t h e amount h o l d w i t h f o r e i g n a g e n c i e s , f o l l o w i n g tho f i n a l a d j u s t m e n t of t h i s a c c o u n t . Aggregate cash r e s e r v e s , i n c r e a s e d 6 . 3 m i l l i o n s , while tho banks' r e s e r v e r a t i o , as the r e s u l t of the i n c r e a s e i n d e p o s i t and note l i a b i l i t i e s n o t e d , shows a d e c l i n e from 4 6 . 4 to 46 p e r c e n t . S t . 758a not e a r l i e r . CLOSE OF BUSINESS DECEMBER 12, 19*9 • THE TWELVE FEDERAL RESERVE BANKS AT STATEr/EEITT OF COE/LBIEED RESOURCES AND LIABILITIES OF December 5 1919 December 13. 1918 T December 12. 1919 RESOURCES $336,516,000 $234,622,000 $2^3,1^8,000 Gold coin and c e r t i f i c a t e s 487,568,000 428,812,000 UoU, 066,000Gold s e t t l e m e n t f u n d — F . R» Board 5.329.000 132.935.000 l4o.9IQ.000 Gold with, f o r e i g n a g e n c i e s 829,913,000 796,369,000 788,124,000 T o t a l gold h e l d by banks 1,167,771,000 1,172,191,000 1,188,3*43,000 Gold w i t h F e d e r a l Reserve Agents 30.821.000 118.704.000 119,821.000 Gold redemption f u n d 2,078,505,000 $2,087,264,000 $2,096,288,000 T o t a l gold r e s e r v e s 55.758.000 66.811.000 64.117.000 Legal tender n o t e s , s i l v e r , e t c , 2,134,263,000 2,154,095,000 2,160,405,000 Total reserves 1,453,349,000 1,603,313,000 1,588,417,000 B i l l s d i s c o u n t e d P o u r e d by Government war o b l i g a t i o n s 365,614,000 504,795,000 550,999,000 (All other 366,394,000 514.219.000 541.551.000 B i l l s bought i n open market 2,216,057,000 2,622,327,000 2,680,967,000 T o t a l b i l l s on hand 29,189,000 26,848,000 26,847,000 U* S, Government bonds 54,000 54,000 U. S, Victory n o t e s *111,477,000 253,853,000 273,219,000 U* S» C e r t i f i c a t e s of Indebtedness 27,000 All other earning a s s e t s 2,356,750,000 2,933,032,000 2,981,087,000 Total earning a s s e t s 12,396,000 12,985,000 Bank premises 719,591,000 920,299,000 933,527,000 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 5,506,000 12,696,000 12,961.000 5/o Redemption f u n d a g a i n s t F . R» bank n o t e s 18.824.000 8.128.000 g. 276X00 All other resources 6,041,396,000 5, 234,9J)4,000 6,159,241,000 TOTAL RESOURCES L I A B I L I T I E S 80,492,000 36,973,000 87,002,000 Capital paid-in 1,134,000 81,037,000 81,087,000 Surplus l 6 l ,6l4,000 3 9.T9S, 000 89,503,000 Government d e p o s i t s 1 , 5 6 7 ,927,000 1,330,037,000 1,817,406,000 Due t o members,- Reserve account 556,764,000 717,852,000 759,554,ooo D e f e r r e d a v a i l a b i l i t y items 106.012.GOO 94.133.000 10 V488. 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 2,681,820,000 2 , 3 9 2 , 3 1 7 , 0 0 0 2,769,951,000 Total gross deposits 2,881,359,000 2 , 6 0 4 , 5 8 0 , 0 0 0 2,907,435,000 F . R« n o t e s i n a c t u a l c i r c u l a t i o n 102,202,000 257,480,000 2<SS, 444,000 F . R» bank n o t e s i n c i r c u l a t i o n - not l i a b i l i t y 54.209.000 52.677.000 55,322,000 All o t h e r . l i a b i l i t i e s 6,041,396,000 5,234,934,000 6,159,241,000 TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o n o t d e p o s i t and F . R. n o t e 49.9 1° 46.4 io 46-0 i° *Inc lude s 1-yc a r l i a b i l i t i e s combined Treasury n o t e s • Ratio 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 59.5 $ 53*7 i 52.8 $ s o 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 Ho l e a s e d f o r p u b l i c a t i o n Sunday morning, December In-, 1919; X St.758b Released f o r p u b l i c a t i o n ^ L I A B I L I T I E S OF TEE FEDSPu^RSSERVE^Al^S^T CLOSE OF BUSIitoSS^DECEMB^ ll'lilll51lll'l£lGI F e d e r a l Reserve Bank of Gold coin and r c e r t i f i c a t e s Gold Settlement F u n d - F.R.Board Gold with f o r e i g n a g e n c i e s Total gold h e l d by banks Gold w i t h F . R . Agents 21.922 24.930 Gold redemption f u n d 140,845 577,407 Total gold r e s e r v e s 3.915 49,503 Legal tender n o t e s , s i l v e r , e t c . 626',910 144,760 Total r e s e r v e s B i l l s discounted: Secured by Government war 654,401 128,055 o b l i g a t i o n s (a) 144^924 38,889 All other . 147.030 42,707 B i l l s bought i n open market (b) 209^651 946,355 Total b i l l s on hand 539 1,257 U.S. Government bonds 50 U. S. Victory n o t e s 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 Total e a r n i n g l a s s e t s 1,091 3,99% Bank premises Uncollected' items and o t h e r de234,567 83,7^7 ductions from g r o s s d e p o s i t s 5$ Redemption f u n d a g a i n s t F-B. 2,886 1,072 bank notes 1,353 286 All o t h e r r e s o u r c e s 462,898 1,885,526 TOTAL RESOURCES (a) Includes b i l l s d i s c o u n t e d f o r other F . R . b a n k s , v i z : (b) Includes b a n k e r s ' acceptances bought from o t h e r F.R.banks: With t h e i r endorsement Without t h e i r endorsement * Includes Government o v e r d r a f t of $1,634,000. 13,907 _ _ 134,186 178,324 706 91,083 179 99.256 395,255 106,099 1,162 2.885 3,367 193,337 n s . 4 6 ? 91,54s 63.S79 143,316 32,390 105,052 134,734 179,030 91,262 101*018 398,140 109^466 14,673 4.705 41,245 58.118 16,280 13,241 1,385 - 844 1,235 - 375 4 4 507 515 2,936 12.187 97,736 212]715 217,832 121,069 108,456 3^6,104 - 500 290 81,244 74,347 1,475 933 1,162 443 > 4 77 - 53,308 70,775 288 52, 58,367 71,063 36,126 f 600 43,|04 31,270 38,752 45,623 31,971 99>3b7 1 7 , 7 6 } 19.993 78,715 108,820 116 1,153 - ~ 8,808 r D a l l a s San F r a n . T o t a l 243,148 6,512 12,655 4o4,o66 20,065 46,853 lUo.qio 3.664 6,482 788,124 188,343 59,622 184,528 2 , 0 9 6 , 2 8 8 1.270 235 64,117 60,892 184,763 2,160,405 3S 4S 3 54.999 l . W 550,999 12,653 29,248 541,551 9,279 87,221 60,415 171,468 2 , 6 8 0 , 9 6 7 3,966 2,632 26,847 54 Q.2P0 10.839 273,219 399 76,519 42,846 119,733 68,236 25,609 81,232 51,365 44,077 983,527 1,847 *2.524 _111 576 290 322 957 515 498 246 655 811 12,961 8,276 679 628 832 128 463,904 499,684 304,159 269,830 915,607 296,917 172,237 285,833 187,001 415,645 6 , 1 5 9 , 2 4 1 5,080 16,757 15,210 25,553 15,900 10,900 5,000 14,927 10,408 10,005 5,065 1,667 8,722 40,282 73 >112 St.758c Released f o r F e d e r a l Reserve bank of Capital p a i d - i n Surplus Government d e p o s i t s Dae to members— Reserve account Deferred a v a i l a b i l i t y items 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 Total gross d e p o s i t s F.R.notes in actual c i r c u l a t i o n F.R.barik n o t e s i n 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 A. CLOSE OF BVSIKBSS m ( I n thousands of d o l l a r s . ) Boston 7,104 5,206 8,846 119,614 63,l4l 7,713 199,314 226,737 20,554 3,983 m 13. 1919- 5 i^^Kans-CyNew York %h±U* C l a v e l . Richin. A t l a n t a Chicago S t 4. L, 0o6u0i s M3,073 4,008 12,315 9,U6l 4,392 3,415 7,8jb 22,382 2,320 3.957 2.5S9 9.710 5,311 5,860 3,800 2,805 32,922 2,306 7,817 5,676 9,621 3.282 4,52? 3.602 30,467 735,659 166,058 43,263 7.03S 6,*9 3,62= 2,639 15.5« 3.S55 14,631 2,l4< 40,777 6,311 15,692 1,918 D a l l a s San F r a n . T o t a l 5,478 871002 3M o 4,578 81,087 2,029 8,952 89,503 4,407 108,568 1 , 8 1 7 , 4 0 6 29,688 759,55 s * 5,466 103,488 152,674 2,769,951 237,507 2 , 9 0 7 , 4 3 5 975,447 778,170 55,3^7 21,258 28,688 4,036 19,173 2,632 10,186 1,40] 462,898 , 2 8 5 , $ 2 6 463,904 499,684 304,159 269,830 915.607 296,917 172,237 285,833 187,001 462,898 l1,885,^26 TOTAL LIABILITIES MFMORANDA Contingent l i a b i l i t y a s e n d o r s e r on Discounted p a p e r r e d i s c o u n t e d 15,900 w i t h o t h e r F . R . banks Bankers' a c c e p t a n c e s s o l d t o o t h e r F-R- banks ,821 258,444 55,322 415,645 6,159,241 15,900 40,282 40,282 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F.R.notes outstanding F . R . n o t e s h e l d by bank i l l c i r c u l a t i o n 22 6 ',737 77S.170 F.R.notes i n B i l l s discounted B i l l s bought i n open market 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 11,587 i'.224 22 9 ',077 255.337 * 3 . 7 7 4 1 5 0 , S 3 1 4=5,203 142,710 DISTRIBUTION OF BILLS AND U. Within 15 days l 6 to 30 days 1,490,897 116,113 78,472 128,987 22,158 9,221 S 710^2 3,444 =5,169 101.SSU 71,036 CERTIFICATES OF INDEBTEDNESS BY mTURITIES. % 1 to 60 days 61 t o 90 days Over 90 days 18,827 322,128 191,^51 187,068 147,024 226,659 6,551 8,630 267,979 3 , 1 4 8 , 7 ^ 0 30,472 241,305 237,507 2 , 9 0 7 , 4 3 5 Total 2,139 > 1 6 5^1,551 273,219 Released f o r p u b l i c a t i o n Sunday morning, December 14, 1919; n o t e a r l i e r . St-758d FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS DECEMBER 12, 1919. ( I n thousands of d o l l a r s . ) F e d e r a l Reserve Agent a t Boston New York P h i l a . Clavel- 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 F r a n . T o t a l FEDERAL RESERVE NOTES: Received from Comptroller 461,800 1,927,120 504,780 463,740 299,400 293,000 816,960 289,600 146,480 1 9 9 , l 6 0 136,500 391,240 5.929,780 Returned to Comptroller 187,792 928,422 235,620 169,483 126,171 274,008 998,698 269,160 294,257 173,229 203,542 538,817 180,789 Chargeable to F.R.Agent In hands of F . R- Agent I s s u e d to F.R, bank l e s s amount r e t u r n e d to F.R. Agent f o r redemption 37,300 236,708 89,458 278,143 108,811 113,000 31,540 24,040 24,878 48,090 25,440 17,240 885,698 237,620 270,217 148,351 155,452 513,377 163,5^9 54,177 84.184 47,295 122,111 2.431.667 92,303 114,976 89,205 269,129 3,t+98,113 5,910 6,060 14,725 1,150 3^9,373 86,393 108,916 74,480 267,979 3.1^8,740 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on hand 183,740 - 32,725 - 2,500 - 4,000 13,052 4,264 2,145 2,779 Gold redemption fund 13,621 11,330 10,483 14,325 Gold S e t t l e m e n t Fund - F.R. Board 57,000 95,000 68,389 70,000 42,000 50,000 241,144 65,931 19,800 166,087 595.628 158,748 153,167 104.756 99,430 264.295 89,354 E l i g i b l e paper, minimum required Total AMOUNT OF ELIGIBLE PAPER DELIVERED TO F-R-AGENT 1,595 3,522 7,938 8,831 244,848 12,787 90,489 36,360 11,484 95,898 853,006 69,777 48,465 159,294 l.Q6o.3g7 236,708 885,698 237,620 270,217 148,351 155,452 513,377 163,5^9 86,393 108,916 74,480 267,979 3,i4s,74o 209,651 944,892 179,503 2i4,64o 115,852 108,170 345,929 60,415 159,909 2,615,646 99,292 51,396 68,573 108,820 5,700 -