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STATFM2NT FOB THE PRESS Released, for publication Friday morning, Doc. 2 ; not earlier. S t .2447. Federal Eeserve Board, December 1 , 1921. CONDITION OF FED3RAL RESERVE BANKS Further gains of $14,200,000 of gold., offset in part by a loss of $3*300,000 of other reserve cash, are indicated in the Federal Reserve Board's weekly consolidated bank statement issued as at close of business on November 30, 1921. Deposit liabilitr.es cf the reserve banks show an increase of $14,300,000 for the wss.£. whi.lo Federal Reserve nct 3 circula tion decreased by $23,900,000. In consequence of these changes, the re serve ratio shows a further rise for the week from 72.3 to 72.7 per cent. Federal reserve bank holdings of bills secured by United States Government obligations show an increase of $9 , 200, COC, larger increases in the holdings of paper secured by Treasury notes and Treasury certificates being offset in part by reductions in the amounts of paper secured by U. S. bonds and Victory notes. Other discount's on hand show a decline of $32 , 100, 000, while holdings of acceptances pircliased in open market increased 'by $3,600,000. U. S, bonds and notes show a nominal decrease, PittEuan cer tificates used as cover for Federal reserve bank note circulation show a de crease of $5,000,000 for the week, while other Treasury certificates, largely held under repurchase agreements by the New York reserve bank, increased by $8 i 500, 000« j^Ehe statement for the first time during the present year shows reserve bank holdings of municipal warrants reported by the Philadelphia and JaakSv/ Total earning assets of the reserve banks are givsn about ti lico Aaa than the week tefore» and. at the close cf November stood at $ 1 , 459, 900, 000, a decline of over 57 per cent from the peak attained on October 15 of last year. Of the total holdings of $1+76,400,000 of bills secured by United States vernment obligations, $332,400,000, or 73.0 per cent, were secured by l l t t s t o m * S V bknd3s * 7 ,7 0 0 ,0 0 0 , or i.6.3 per cent, - by Victory notes, $30,400,000, or 6.4 per cent, - by Treasury notes, and $29,000*000, or 6*3 psr cent, - by Treasury certificates, ccnuired with ;;''7Un K-o non $ 81 , 600, 000, $ 19 , 600,000 and $ 16 , 900,000 reported the weok before. * * uniier rediscount for other reserve banks by the Boston, Cleveland banks show a decline frcm $19,700,000 to $14,800,000. r ? r tS, a redact4on from $10,ooo,ooo to $ 4 , 360,000 in the amount 01 paper held under rediscount with the New Yo-v ba>'<k \+V’nta shows a slight increase from $7 , 200,000 to $ 7 , 500,000 in its to til w\ i ' n n J ° n n ? . f d Cleveland banks, while Dallas increased frcm ' ? t $3,000,000 the amount of bills rediscounted with the Boston reserve Dante* c® iJ 01? Government deposits are given $13,700,000 larger than the week before chief Tv nfPr S> b0W f nr inal ieCrease- wMle other deposits, composed by $ 900, 000? °n"In clearing accounts and cashier's checks, increased With the exception of the San. Francisco bank, all Federal reserve haul™ report smaller figures of Federal reserve note circulation than last week the November 30 total of $ 2 , 366 , 000,000 representing a new low record for tne^year and a total lower than any published after September 27 , 1918 . As against this reduction in Federal reserve note circulation, the aggregate nvt liabilities cf the banks on Federal reserve bank notes in circulation show an increase of $ 1 , 100, 000, though the actual amount outstanding, according to Treasury records, shows an increase of less than $300,000 for the week under review. w*. **■ '« St. 2''^ 7a. Released for publication Friday morning, Docorabor 2, 1921; not earlier. RESOURCES M D LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS C0UBIN3D. (in thousands of dollars) R E S O U R C E S Nov. 30. 1921 Gold and gold certificates . . . . Gold settlement fund - F.R.Board . Gold with foreign agencies . . . . Total gold held by banks . . . . Gold with Federal Reserve Agents . . Gold redemption f u n d .......................... Total gold reserves ...................... tender notes, silver, etc. . . Total reserves .......................... Bills discounted: Sec. by U.S. Government obligations All o t h e r .................. ................... Bills bought in open market . . . . Total b i l l s on h a n d ...................... U. S. bonds and notes ...................... U. S. Certificates of indebtedness: 0ne-./ear certificates (Pittman Act) All o t h e r ...................... ... Municipal w a rra n ts............................. Total earning assets ............... Bank p r e m i s e s ..................................... 5>» Redemption firnd against F . R, Bank n o t e s .................. Uncollected items ............................. All other resources . . . . . . . . TOTAL RESOURCES ............................. Ivov. 2 5 , .921 Dec. 5 , 1920 US5.102 1+2 5 , S3 3 201,131 3 82, ^3 6 7 . SqH 910 , 9Ui 1 , 211,316 _ U 2 ,a .7 2 657,732 1 , 19 U , 20U „1J0JJ3 2 , 235.229 2 , 022,073 jja j a T 2 , 929 ,ite 1'42^S2. 2 , 972 , 22s .. 1.71,'120 1+76,360 705,9^1 1+67,163 733,007 1+23,9 U6 5 ,236 —----95'4,*5f l>779 ,605 _ _ i i ^ b ia , W 2 ,& 3 ,y $ C 1,255,255 32,253 62*315. 1,27*+,5H5 32 ,1+26 2 , 192,195 1 , 160,635 1 , 616,116 . 2H u m 3 , 019,356 26,926 , 126,000 '4 6,291 ________ 62 1 , 1+59,266 131,000 3 7 , 23U 22 259,375 1,1+75,227 3.333.792 33» 2^1 32 ,9^9 17,U56 7,9^1 53M 72 ___ 2S+ X & 5,OUU,39o 7,903 5HU,393 ___.12j.I35. 5 , 053,092 12,197 733. ^ 3 3.336 103 , 10U 213 .S 2U 103 , 21 b 2 13 , 221+ 99 , 11+0 16 U J U 5 5 5 ,H 9 55,131 - 1 , 670,362 ..... So,,222 ^5,913 32,155 1,670,717 25,625 l,7l+2,S30 1,722,1+97 25»742 1,350,252 2 , 366,006 2,329,916 3,312,039 75,362 1+62,795 2H .856 7M 65 U6 3 ,110 2U .633 2li+,939 55.1»529 111.235 5 , 053,092 6,303,379 27,635 - 6,303.279 l i a b i l i t i e s Capital paid i n ...................... ... , Surplus ............................................ Reserved for Gov’t, franchise tax Deposits: Government . . . .......................... Member bank - reserve account . All other ..................................... Total deposits ......................... F.R. notes in actiaal 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 . Ratio of gold reserves to F.R. notes in^circulation after setting aside 35/* against deposit liabilities . 5 , 01+U, 396 72*7# 72 . 3^ 100 . 6$ 99.3'^ bO,623 1 , 763,222 ♦U8.8# Calculated on basis of net deposits and F. R. notes ;es in circulation. circula'bion. kasasea for P l i c a t o n F r t^^ BOratej. Decesier d, 2 , 1 S2 1 ; not 1Mt earlier ^Ti5!snTn?prH J ’ 1UJj earlier earxier. P 3 «>tt. rr — __: __ ’ I'ydi; t-JssouuCEs M S l i a b i l i t i e s of teis n m u L a s m Federal Rs serve Bank of * Gold and gold certificates Geld settlement fund - F.R.Board Total gold held by banks Gold with F. R. Agents Gold redemption fund i "s it e w =-, i____ - & m ! R E S O U R C E S a - 01evs-, P“ u A o'°^ l6> -^ ---- ix---- l u & i— 7 ^ — 7 8 ' 3 0 7 i s j i 2 2 , 7 7 7 3 " ' ° 5 S St.244?o. 30, 1921. (in thousands of dollars) <v , Atlanta Chicago St.Louis Minn. Kans.Qy. Dallas San Fran/ Total/J® g ; 5 __ ±i , ?, *&n 16,012 Total gold reserves Legal tender notes, silver, etc. 4^ at close of bdsihess not. s m s 9 ^ 3J1S , 7 , 8 9 8 * 1 1 4 8 , 2 6 9 2 3 0 2 , 2 8 3 4^835 0 , 7 2 3 6 6 56 , s4l , 9 2 , i? f-. ws i ^ 24,885 1 3 .ISS 2 6 , 6 6 4 27^ 1 7 3 , 1 9 5 ? t77s 11,152 , 0 5 * 9 2.Usq ’5 : g ‘- °K : 20 0°1 9 municipal warrants n U ^ .i W S 6 . 3 l . 7 3 * 1 0 9 , 1 4 6 S 6 1 0 0 , 5 7 3 9 7 , 2 9 5 1 0 , 3 7 7 I 8 M 3 0 36,400 41,299 ^ 1* 12,500 5 1 , 2 9 ,o 4o 192 3 3 4 , 5 3 7 o S.S 05 19 ,bb 3 & « . k j 2 4 j o j o ' „ , s U 4 , 6 i 3 U .1 9 S n 5 6 s 8,564 1 18,167 2,607 7,069 243 4,950 146 5,320 19 110,439 119,234 105,566 i i 6,'237 978 210,091 76,799 22 6 7 , 4S7 93,911 5 . 7 S0 62S 734 4.196 6 422 1 , 2 3,76o 87 _____ 45 97,093 Bank premises 1,566 335 3 >611 700 539 lg g ___ ^57 ^ 2xJ 25 — 5 ' 461 S l.o o s -------- - o V kn mi t a .335 1,5*3,822 3S2.7S2 430 i9 65^ ^ 8,93s 45,937 -190 55,065 25,010 476,360 4s,261 705,941 10,833 72.-V.U s 4 ,io 4 1,255,255 2,643 209 32,253 1,900 7,880 126,000 46 ,291 67 59,608 92,193 1,459,866 2 ,i 4 i 759 33,241 156 39U 7 , gill 24,450 38,899 534,872 - 2,911 6.037 iq.X-U 556 48,569 TOTAL RESOURCES ^ 707 U. S. Certificates of indebtedness One-year certificates (Pittman Act) 10,450 AUctner ^ (aj Include^ bixls discounted for other F. R. Banks, viz: fx7 Zm » < * U. S. bonds and notes 611 other resources __ 6 1 -L1 J51.SiQ <f f ^ ,5 t 2 2 * -L v )M 25,579 2 7 7 , ^ 2 , s49,3$ T ^ I s I f S:f S:“ 88 * * « S .«8 S-S l’% * » “Osal bills on hand Uncollected items 95M f e -A sU2___ L J 19 139, 7^5 32,424 281/11!+ 2 ,989,142 Bixls discounted: (a) Secured by U.S. Govt, obligations All other Bills bought in open market 5/^3ederupt ion fund against F. R. Baric notes ^88,9/7 465.236^ 12,731 209,777 1 , 779,605 ---------- > T V ~ xOtal reserves Total earning assets s >265 1 7 , 7^9 — L j g U ^g57 33,758 C7« 66,528 1 579— ii£p g _ _ Jig _ _ _ 925 5; 065 m \m 2 1 7 ,0 a ^ o t^ 3S.6S1 584 S 121,690 419,396 5 , 044,396 10,246 4,324 - 242 14,312 Released to r p S t .24^70. a i / i j ABI^I Tj gs qF ^HE FEDERAL RESERVE BAMS AT CLOSE 01' BUSINESS NOV. 30, 1921. (In thousands of d o lla rs ) L I A B I L I T I E S Minn. Kans.Cy. D allas San Fran. Total Cleve. Rich. A tla n ta Chicago St.L o u is New York P h ila . Boston 3 , 561 * 4 , 56 * + M 9 7 7.376 103,104 Federal Reserve Bank 4,587 4,182 14,289 5»*+i8 27,l*+0 8,727 11,124 7.936 7,303 9.330 7.113 15.207 213,824 C a p ita l paid in 9,114 30,536 8,708 59.31S 1 7 . 5 ^ 22,263 11,026 l6,3*+2 2 271 1,860 2,829 5 5 .U 9 Surplus 4,200 l,*+*+3 3,045 9,739 20,408 2,915 3.639 2,770 Reserved fo r Govt, francio.se tax 1 , 68b 2,826 2,489 6,872 *+5.913 D eposits: 2,770 3,390 2,631 4,609 3,321 _____ 1.730 4,518 9,071 41,209 67,006 *+3,oi9 119,832 1,6 70 362 GoveiTUient 675,225 100,9*+5 128,295 50,975 39,550 229,806 61,186 1 13 ,31*+ Member hank - reserve account 441 652 307 3.692__________ 26,55^ 77*+ *+29 2,375 r000 423 — 14,866 1i.xvu ,108 725 763 -537336 7o;*+s5 45,815 130,39b i ,T * z tW A ll eth e r ■ 699.T 62 103,783 132,341 56, 007_ 1 +3,3,69 23M 12 64,730 56,352 68,791 36 , 6 38 223 , 8 7 6 2 , 366,006 118,595 Total deposits 631,590 197,873 213,^92 106,659 119,799 *+01,583 99,9*+° 209,413 F . R. n otes in a ctu a l c ir c u la tio n 75 .S 62 P. R. fyfc notes in c ir c u la tio n 3.814 3,735 12.086 .2,464 6,771 3.*+80 3,743 7,206 4,896 *+.677 17,8 31 5.159 *+62,795 net lia b i lit y 36,971 23,*+95 33.850 S3,681 45,247 42,287 39,350 16,385 55,482 32,398 14,001 39,6*+S 24,856 1,968 2,048^ D eferred a v a i l a b i l i t y items 1,446 1,882 4,519 1,372 1,462 1,2 16 1,272 *+,692 1,517 1,462 All other l i a b i l i t i e s 132,008 205,968 121,690 419,396 5 .oi+1+,396 401)325 1,543,822 382,782 430,965 226,580 205,065 757,731 217 , 06*+ TOTAL LIABILITIES Ratio^of^tofcai~reserves to deposit and F ^ ^ ^ g ^ ^ ^ 47.3 *+8.6 39*3 79*3 72*7 note l i a b i l i t i e s combined, per cent 76.3 u j i l w Contingent l i a b i l i t y a s endorser on discounted paper rediscounted w ith other F . R. Banks 4,324 Contingent l i a b i l i t y on b i i i s purchased 2,336 f o r fo re ig n correspondents F. R~ notes outstanding F . R„ notes held by banks F . R„ notes in actu a l c irc u la tio n B ills discounted B ills bought in open market U< S, C e r t ific a t e s of indebtedness Mani cip a l -warrants 7 , *+88 14,812 3,000 t>' 1 , 53b 12,061 2,560 2,624 1,568 1 , 152^ / 3,808 1 , 50*+ 864 FEDERAL RESERVE NOTES OUTSTANDING/MID IN ACTUAL CIRCULATION 832 l ,*+72 32,317 » 227 , 5*+o 18,127 209,413 n Within t il ’ 590 197*873 213*492 10 b !'659 m 15 days 699,318 34,582 33,409 S S l 16 119)799 4 0 1 ^ 3 99,940 56.352 b S , 7y i 36,638 223,87 s - c m r c F i L i j J « b b 5 M M mmiciim, w arm ® Total Over 90 days 61 to 90 days to 30 days 31 to 6 0 d a y s 1,182,301 56,203 122,039 133,32*+ 171,^17 16 72,95*+ 9,895 11,526 172,291 114,566 4 ,656 4,000 10,660 67 57 v w u w m ia a l* Belaa.se! for publication Friday morning, Dec- 2, 1921; not earlier. St.2447d. FEDERAL HESERVE AGENT'S1 ACCOUNTS AT CLOSE OF BUSINESS NOV- 30, 1521 . Federal Reserve Agent at • Bosucn New York (in thousands of dollars) Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total R E S O U R C E S Federal Reserve notes on hand Federal Reserve notes outstanding Collateral security for Federal Rejserve notes outstanding: Gold and gold certificates Gold redemption fund Gold fund - F- R. Board Eligible paper Amount required Excess amount held TOTAL 103,360 227 , 5I+0 5,600 16,313 140,000 6 5 , 6 2 7 18,612 319,930 27,220 39,200 28,719 77,368 766,799 217,^73 233.022 115,885 12 ^ , 6^ 396,925 26,109 171,000 - „ ll,6lb I S ,375 12,189 4,010 3,400 3,5S8 161,720 439,698 121,305 25.660 12,950 59,396 6,110 13,052 4,380 56,431 1,943 14,639 172,765 54,384 13,835 33,220 2,200 7.700 76,486 19,749 34,560 858,136 40,131 276,301 2,698,6?3- 6,701 3,796 3,229 27,360 42,201 45,697 18,150 -33x775 " 19,690 450,163 121,502 2,234 190,037 l ; 207,940 27,400 27,4$! 66,524 16,97 5 7 919 , 07^ 2 85 ,7 2 ^ ’ 577.052 1,886,748 469,246 546,746 274,959 342,949 1,088,431 282,105 149,892 194,447 127,502 604,137 6 544 214 ----------------------- -— — -----------------------------------------— — ..... .............................................................................. :------------- ------ L u L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of the Currency Collateral reeeived frcm Federal Reserve Bank: Gold Eligible paper TOTAL 330.900 1,086,729 161,913 84,239 2^,693 272,222 lltU,6 * 202, oer 594,034 142,005 165,564 32,605 43,988 205,985 97.750 96,954 82,548 108,960 601, 1*18 Ht6,965 72,3 W 84,136 59,880 310,651 3 , 556, 81/ 302,283 184,730 17,195 30,589 79.672 12,731 209,777 1 . 77 S -.605 54,891 83,499 1 , 207,798 66,921 68,219 60,351 577,052 1,886,748 469,246 546,746 274,959 342,949 1 , 088,431 282,105 149,892 194,447 127,502 604,137 6,544 21^ - # ■ -T------- --________^ = — — = ______________ 1 * 1 STATEMEOT FDB ®EE PRESS Belo&sed fo r p u b lic a tio n S t .2435. Friday morning, Bee, 9; Federal Reserve Board, not e a r lie r , December 8 , 1921, CONDITION OF FE8SBBAL RESERVE BANKS * Aggregate in creases of $7,400,000 in Federal reserve note circu la tio n , as again st a reduction of $24,500,000 in deposit l i a b i l i t i e s and a gain o f $1,500,000 in cash reserv e s, are in d ica ted in the Federal Reserve Board's weekly consolidated bank statement iss-ued as at close of business on December 7, 1921. Tha reserve r a tio shows a fu rth e r r is e fo r the week from 72.7 to 7 3 .1 per cent. As again st a reduction of $18,700,000 in the reserve bank holdings of b i l l s secured by United States Government o b lig a tio n s, holdings o f other discounted b i l l s show an increase of $7,100,000, and holdings of acceptances purchased in open market - an in crease of $8,800,000. The New York reserve bank shows a la rg e r in crea se, v i z . , by $14,700,000, in acceptances held mainly under repurchase agreements, w hile most o f the other reserve banks report moderate reductions under th is head. U. S. bonds and notes on hand show an. in crease o f $2,500,000, Pittman . c e r t if ic a t e s on deposit with, the Treasury to secure Federal reserve bank note c ir c u la tio n d eclin ed $1,500,000, while other Treasury c e r t i f i c a t e s , la r g e ly h eld under repurchase agreements by the New York reserve bank, decreased by $3,100,000. Holdings o f municipal warrants, to ta lin g $227,000, are reported by the Federal reserve banks o f P h ilad elp h ia, Minneapolis and Kansas C ity. T otal earning a sse ts of the reserve banks, as the re s u lt o f the changes in d icated , show a red uction o f $4,800,000 fo r the week, the December 7 t o t a l of $1,455,100,000 marking a decline of 56 per cent from the t o t a l reported on the corresponding date la s t year. Of the t o ta l holdings o f $457,600,000 of b i l l s secured by United States Government o b lig a tio n s, $333,500,000, or 72.9 per cent, were se cured by L ib erty and other U. S. bon is, $72,400,000, or 15.8 per cent, - by V icto ry notes, $23,200,000, or 5 .1 per cent - by Treasury notes and $28,500,000, or 6 .2 per cent, - by Treasury c e r t i f i c a t e s , compared with $333,400,000, $77,700,000, $30,400,000 and $29,900,000 reported the week before. B i l l s h eld under rediscount fo r other reserve banks are reported by the Boston bank only, the t o t a l of $6,200,000 c o n s titu tin g a low record fo r the year. During the week Richmond was ab le to redeem a l l i t s outstanding paper under rediscount w ith the Ne*v York reserve bank. A tlanta redeemed a l l the paper rediscounted w ith the Cleveland bank and reduced from $7,200,000 to $4,300,000 the amount o f b i l l s h eld under re discount w ith the Boston bank, while Dallas reports a reduction from $3,000,000 to $1,900,000 in the amount o f b i l l s rediscounted w ith that bark. Government deposits are given $6,400,000 la rg e r than the week >3- . fore. Reserve deposits show a decline of $29,900,000 and a la rg er decline a t the New York reserve bark. Other deposits, composed c h ie fly of non members,' c le a rin g accounts and c a s h ie r 's checks, show a decrease o f $1 ,000,000. Moderate changes in Federal reserve note c ir c u la tio n are reported by a l l Federal reserve banks, except by the New York bank, w?-ich shows an increase fo r the week o f $10 , 100 , 000 , as ag a in st an in crease fo r the system of $7,400,000. In a d d itio n , the re s e rv e banks rep ort an increase of $1,100,000 in th e ir aggregate net l i a b i l i t i e s on Federal reserve bank notes in c ir c u la tio n , though the a c tu a l amount outstanding, according to Treasury records, shows a decrease of $2,100,000 fo r the week under review. Released for publication Friday morning, Ibc. 9, 1931; not earlier. [RESOURCES AID LIABILITIES OF THE T’-TELVE FEDERAL RESERVE BAKES COMBINED. (In thousands of dollars) R E S O U R C E S Dec. 7, 1921 484,043 437,202 Gold and gold certificates .................. Gold settlement fund - F.R.Board . . , Gold -vith. foreign agencies.................. 1-iov. 30. 1921 • Dec. 10. r! 194,859 488,937 410,917 455,236 57.745 Total ftpld held by b a n k s ............... 541,250 954,203 573,531 Go 11 with Foie ral Reserve Agents . . , Gold redemption f u n d ............................. 1 ,787,724 122,053 1 ,779,605 115.639 1 ,210,563 151,177 Total gold reserves , , .................. Legal tender notes, silver, etc. . . , 2 ,8 5 1 ,0 2 7 2 ,8 4 9,44 7 2 ,0 3 5,27 1 139.606 139.695 177,136 Total reserves........................... Bills discounted: Sec. by U.S. Government obligations. All other ............................................ Bills bought in open m a r k e t ............... Total bills on hand ......................... U, S. bonds and notes ......................... U. S. Certificates of indebtedness: One-year certificates (Pittman Act). All other ...................... Municipal warrants................................. 2 ,9 9 0 ,6 3 3 2 ,9 3 9 ,1 4 2 2 ,2 1 2,40 7 457,618 713,041 81.784 476,350 705,941 72.954 1 ,159,244 1,547,595 244.690 1 ,2 5 2,44 3 1,255,255 2 ,9 5 1,52 9 34,731 32,253 26,926 124,500 4 3 ,1 68 227 125,000 46,291 67 259,375 68,919 Total earning assets .................. 1,455,069 1 ,459,866 3,316,749 Bank promises . , ................................. 5£ Redemption fund against F. R. Bank n o t e s ................................. Uncollected items . . . . . . . . . . All other resources ............................. 33,384 33,241 17,658 7 ,941 534,872 19.334 11,387 665,385 9.452 5 ,0 4 4 ,3 9 6 5,233,038 TOTAL RESOURCES ......................... L I A B I L I T I E S 7 ,8 5 4 512^222 o fiM ___ 19,476 5 ,0 1 8 t 538— 1.311 Capital paid in .................................... S u r p l u s ............................................... ... Reserved for Gov't, franchise tax . , Deposits: Government ........................................... Member bank - reserve -account , . . All other ........................................... 103,089 213,824 55,566 103,104 213,824 55,119 99,174 164,745 52,337 1 ,640,445 25.501 45,913 1,370,362 26.555 28,394 1,758,967 24.511 Total deposits ................................. 1,7 1 8,23 3 1,742,830 1,811,872 F.R/-'notes in actual circulation . . . F.R. Bank notes in circulation net liability ., .................. ... Deferred availability i t e u i s .............. All other liabilities ......................... 2 ,3 7 3 ,3 5 5 2 ,3 5 6 ,0 0 6 3,311,842 77,014 75,862 462,795 24.3 56 214,523 515,934 113.948 5 ,0 4 4,39 6 6,2 3 3,03 8 72. 7<~ *44. 5fo TOTAL LIABILITIES 25,454 s.oi&r&ae1 .3 7 1 Ratio of total reserves to deposit and F.R. note liabilities combined . . . Ratio of gold reserves to F.R. notes in circulation after settinf aside 35^ arainst deposit liabilities 73. If® . 1 0 0 .7?c 100. *49. 2$ *Calculated on basis of net deposits and F. R. notes in circulation. Heleased for publication Friday morning, December S, 1921; not earlier. BESCUTiCES AND LIABILITIES OF THE FEDEIiAI, RESERVE BANKS AT CLOSE OF DUSIxISSS DEC. 7 , Federal Heserve Bank ofGold and jold certificates Gold settlement fund - F.R.Board Total gold lieId by "banks Gold with F. R. Agents Gold redemption fund Total gold reserves Le-^al tender notes, silver, etc. Total reservesB ills discounted: (a) Secured "by U .S . Govt, obligations All other >B ills "bought in open market R E S O U R C E S Phila. Cleve. Rich. ' 1921. (In thousands of 390,172 29.9 11 1,990 68,536 12,392 55.472 2, S ±5 21.325 4 ,9 7 5 22,401 7 .151 100.493 3 ,235 22,3 97 3,092 23,906 2 ,3 8 8 2 7 .0 21 8,421 5.027 13,132 44,956 484,048 457.202 58,912 42 0,08 3 70,526 67,864 24,270 12,126 122,894 25,632 32,998' 29,409 13,448 63,038 941,250 593,784 137,327 177,492 6.937 15.000 5.26S 30,175 11.873 44,0 78 293,408 4,645 45.560 66,121 3.966 16,442 3 .512 29,976 2.650 11,900 214,396 ]1,787,724 122.053 2.429 4 ,356 246,785 1,028,867 214,790 250,522 66,319 60,849 461,862 95,719 52,952 62,035 27,777 2 82,450 25,851,027 12,823 555 8,085 17.579 4 6 .5 43 6.915 72,3 91 68,104 477,619 108,542 53,507 70,120 34,479 28 6,26 1 2!,990,633 19,023 56,854 1.526 9,010 44,7 94 190 21,147 46,897 11.713 77,4 03 53,994 79,757 ]L,252 ,443 8,868 2 ,6 4 3 209 34,731 4 ,950 22 5,320 17 1,900 - 124,500 4 3 ,1 68 32 150 7 ,8 8 0 500 — 71,980' ■66,067 9 1 ,7 5 8 58,537 15,757 26,926 54.759 65,666 127,250 3.887 4.536 22,0 08 41,170 396 9 ,103 51,844 Total b ills on hand 64,355 26 5,58 4 97,615 106,944 ,99,246 96,479 186,545 63,574 60,947 U. S. bonds and notes 1,241 U. S. Certificates of indebtedness: One-year certificates (Pittman Ac1 1 10,450 1,797 A ll other A ll other resources TOTAL RESOURCES (a) Includes bills discounted for other F, R. Banks, v iz: 139,606 264,364 1 ,0 7 5 ,4 1 0 221,705 258,131 7.255 38,253 57,184 3.809 Uncollected items 3,811 6 .072 38,149 66,347 2 .4 4 8 5 $ Redemption fund against F. IL Bank notes 6.702 7 .5 0 9 67,160 21,485 8.970 Bank premises Total 7 ,9 0 5 51,007 124,722 102,331 38.531 Total earning assets .ns.Cy. Dallas San Fran. Hew York 27,358 31,219 5 .7 7 8 Municipal vjarrants io llars) Boston 172,624 15.249 Atlanta Chicago St. Louis I.'inn. St.24£ — - 1,434 1,906 1 ,2 3 3 11,293 4 ,627 1 ,161 36,400 38,398 12,500 87 9,040 184 3,760 — 8,564 1 16,667 1,986 7 ,0 6 9 176 — 77,8 43 45 340,382 111,681 118,074 104,239 116,337 209,825 4 ,6 3 6 6,370 535 3,619 2 ,9 2 2 422 1,580 700 539 188 46,229 105,405 43,3 33 4 7,1 52 46,567 458 3.549 428 1 .015 — 116. 457,618 713,041 81.784 227 88,346 :L,455,069 990 5 ,838 628 740 4 ,1 9 6 2 ,1 4 1 769 33,384 536 J 1,665 523 235 916 156 394 2&rS^ 61,373 31,6 72 15,798 34,872 24,091 35,395 7 ,8 5 4 0,<?(./ 51&74S3 453 722 1^22 777 994 521 2.795 6 ,0 4 2 19,476 383,952 1 ,5 3 2,69 6 378,382 428,530 226,760 206788^ 6,175 758,042 214,122 137,341 202,383 122,199 417,207 5,018r5586 ,1 7 6 fieleased for publication Fri:.ay morning, Dec. 9 , 1921; not earlier. ^SOURCES AND-LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS DEC- 7, 19*1. (In thousands of dollars) L I A B I L I T I E S Federal Reserve Bank Boston New York Phila- Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.. Capital-paid in 7,936 27,110 8,727 11,124 5,k2k k, I 78 lk ,293 k,l97 k*59i 3,563 7,373 *>513 Surplus 16 ,342 59,318 1 7 , 56k 22,263 11,026 8,708 30,536 9 ,n k 7,303 9,330 15,207 7,113 Reserved for Govt, franchise tax 2,799 20,408 3,666 3,088 k>296 9,806 l,k70 2,971 2,856 2 ,3 H 1,895 Deposits: Government Member bank - reserve account All other Total deposits F. B. notes in actual circulation P. R« Bank notes in circulation net liability Deferred availability items All other liabilities 4,325 109,702 784 114,811” 208,261 5»k40 36,903 l»k;;,5 21,789 64o,o45 14,686 2,166 2 , 7k8 99,1*86 126,839 1,247 676,520„ 102,899 . . . 641,710 198 , 01k 18,327 84,392 4,90 s '4,547 2,192 5 , *+85 2,023 k2 , 36k 231,180 61,631 720 338___ 2,203 681 130,307 . . . . "55,5^5 44,89JT23S,868 6k ,335 212,707 107,169 119 ,17 5 401,812 98,196 5.603 1,454 53,665 k26 1,935 3,126 47,869 70,533 1+5 , Uso 66,867 U5U 540 56,955 68,499 S t. 2465c. Total 103,089 213,824 55 .566 1,968 3,126 52,337 43,017 12 c , 169 1,640,445 313 3,109 25,501 45 , 29s 126,404 1 , 718,223 36,302 224,549 2,373,355 •77,014 3,570 4,083 3,797 11,686 2,655 3i,k49 14,065 33,95k 24,613 34 ,664 451t5 » ^ 1,4?8 2,021 25,45k 1.397 1,913 2,071 TOTAL LIABILITIES 393,952 1 , 532 , 69b 378,382 428,530 226,760 206-T924 758,042 214,122 137,341 202,383 122,199 417,207 5,0lSr53gfiatio of total reserves to deposit and a E. •5/7fc? 7. S'7? note liabilities combined, per cent 81-8 81,6 73-7 75-3 44.5 41*5 74-5 66-8 51.0 50.4 42.3 81.6 73-1 Contingent liability as endorse:? on discounted paper rediscounted with other F. E- Banks Bills discounted Bills bought in open market U. S. Certificates of indebtedness Municipal warrants 41,900 1,538 3,723 39,413 1,489 7,670 J 5,513 l6 r f€ f 52,580 1.239 k,6^4 4,298 Contingent liability on bills purchased for foreigi correspondents 2,336 F- R. notes outstanding F. E. notes held by banks F- E. notes in actual circulation 41,251 1,877 6,175 2,560 2,624 1,568 1,15 2 3,808 1,504 864 1,536 832 1,472 32,313 FEDERAL EESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 225,451 763,940 215 , 79k 233,050 114,956 124,574 437,103 118,436 6o,l4s 74,872 39,645 283,720 2 , 691,689 17,190 122,224 17,760 20,343 7,787 5.399 35.291 20,240 3,193 6,373 3,343 59,171 318,334 208,261 641,716 198,014 212,707 107,169 119 , 1 7 5 '401,812 98,196 56,955 68, 499“ 36,302 224,549 2,373.355 DISTRIBUTION OF BILLS, -U, S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Within 15 days lb to 30 days 31 to- 60 days 6l to 90 days Over 90 days Total 691,836 57,864 161,582 120,592 138,785 1,170,659 45.982 13,252 15.332 81,784 7.187 31 37,500 2,000 5,4oo 116,181 167,668 6,587 168 227 59 12,057 •Released for publication Friday morning, Dec. 9, 15 2 1 ; not earlier S t-2465a- FEDERAL RESERVE AC-EtfTS' ACCOUNTS AT CLOSE OF BUSINESS DEC* 7, 1921. Federal Reserve Agent at s on ew7 or. (l*1 thousands of dollars) hi la. Cleve. Rich. Atlanta Chicago S t. Louis Minn. Kans-Cy- Dallas San Fran. Total R E S O U R C E S Federal Reserve notes on hand Federal Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold arid gold certificates Gold redemption fund Gold fund - F. R. Board Eligible paper Amount required Excess amount held TOTAL 101, 160 225, 451 330, 310 30, 220 763, 940 215, 794 5, 600 12, 024 155. 000 396, 924 25, 3 60 11, 933 171. 000 125, 389 14,117 4,531 25,595 3,400 1.978 38,700 170, 156 68, 055 55,558 51 >02b 84,780 12,291 80,496 15.768 52, 327 11, 528 78, 46? 1, 780 39.ooo 28,679 75.823 114,956 124,574 is, 375 161,440 25,660 437.103 118,436 11,445 6c , 14s 7.700 74,372 19,405 30,860 861,702 39,645 283,720 2,691,689 15.764 277.644 6,110 3,511 56,500 13,052 1,190 2,200 1.616 28,360 450,132 6,701 112,651 17,107 2.965 2,234 197,289 1,224,911 143,695 42,482 52.315 1C,996 43,706 14,309 44,896 32,435 27,745 25,909 69.324 9.557 903,965 296,636 563.590 1,926,245 463,588 556,126 270,332 3^0,739 1,073,128 273,52s 146,550 139,379 124, 6o4 607,857 6,541,716 L I A B I L I T I E S let amount of Federal Reserve notes received from Comp troller of the Currency Collateral received, from Federal Reserve Bank: Gold Eligible paper TOTAL 326, 6 1 1 1 , 094, 250246 , 0 14 2 7 2 , 0 5 0 14 3 , 635200,397 533, 543144,096 71,553 32,572 5S .050 314,580 3 , 553,391 172,624 64,355 293,408 186,177 16,442 58,515 29,976 77,331 11,900 214,396 1,787,724 53,654 73,881 1,200,601 593,734137,327177,452 2j>8,211 80,247 106,584 30i176 97,071 44,078 96,264 66,121 63,311 563,590 1 , 926,245 463,533 556,126 270,882 340,739 1 , 078,128 273 , 52s 146,550 189,879 124,604 607,857 6 , 541,716
@FedFRASER