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L IB E R T Y BONDS
V I C T O R Y N O T E S A N D C E R T I F I C A T E S O F IN D E B T E IN E S S OW NED B Y R E P O R T IN G M EM B ER i;A N iv S ,
^
1JJ£Q ^ M S O F S U C H S A N K S S E C U R E D B Y E A C H C L A S S O F U . S . T O O B L I G A T I O N S .
(In
th o u s a n d s
of
S t.
,b 3
d o lla r s * )
---------------------1.
G o v e r n m e n t w a r o b l i g a t i o n s o w n e d .Iff. r e p o r t i n g m e a l i e r b a n k s , i n o a c h F . R . D i s t r i c t :
---------------------------------------------------------------- •
L ib e r t y Bonds
1
V i c t o r y .n o t e s . ____ __ ______ » _ C e r U i x c a t e s o f
-- --- --- —£
—-— --- - ■"“:v:
i
„ io imn
, ' ' T ' T ~ -------------------- 1------------------------T ^ T
In d e b t o c m e ^
_ ^
t rv>r._ s IQiQ
1
7)r*n.- iP
Q1
7,870
15,041
7,74^
14,336
Boston
32U 93I+
362,972
703,506
7^5,033
105,922
103,132
275,4^0
276,139
Now Yorlj:
43,531
50,411
35,017
93,039
12,930
13,112
29,5i'j
29,556
Phi1adoIphia
Gb.zT*Sc..51£
150,542
157.373
2bj
.223
26,937
62,632
63,232
Cleveland
2 8 ,U S
28* S09
77,964
79,340
13,128
12,904
’37,403
36,341
Eicnnond
3S,
185
37,549
75,927
9,045
9,33S
23,796
23,697
Atlanta.
117,332
126,229
216,361
226,456
47,118
45,930
53,109
53,099
Chicago
13,034
13,779
33,176
33,397
5,34s
i4,o6s
5,550
14,794
St t, Louis
17
,q
46
.21,647
3
1,
b44
35,926
3,777
3:376
10,502
10,322
llinnoapolis
20,46s
20,684
53 ,12 1
53,9S3*
7,546
7,990’
25,309*
25,107
Kansas City
21,331
21,810
46,119
46,331
4,100
4,153
20,36 s
20,6s3
Dallas
G
l.028__________63.
02/
________
11)0.
G
76____
_
1
1
2 aSQ2
12. 234
12,582
53,491
57.066
San Francisco
____
792,722
862,017
256,465=
251 ,624
631,374*
623,723
Total
Losns of all re~oortin" mopcer banks in each Federal Reserve District secured by..
Liberty 'o 'd s ______ ’_____ Victory notes_______ 1 Certificates of Indebtedness__ ------------------------F , R . District
» Dec.i2,/iqi9"V I)ec^J919 1 Dae.. 12, 19191 Dec,.% lgi^-- Dec 12/ I'M ' D e c „ 5 ± J m -- *
191^
S I ^ I
&
S £ £ T
Richmond
Atlanta
Chi cr.Do
St. louis
iU:'.-■.j-r.clis
Kansas City
Dallas
San Francisco
totSr"’
g
■ * $
30,037
18,393
.
$6,673
22 ,5^5
13,512
16,353
5,137
'i
_________ 23. 37
690,394
&
? f:|r
30,2o3
. lS,bl6
70,593
23,56^
13,3 s16,239*
5 ,29^
.& £
FEDERAL RESERVE BOARD
DIVISION OF REPORTS M D STATISTICS
DECEMBER 20, I919.
* .&
W
7,33-*5,799
S
20,005
7,053
21,037
6,257
°31
3 ,277*
1,623
°^C
3.30S
1,70 *
23- 034______ b.310
705,746*
305 ,650"
♦Revised figures.
g
f f
7 ,‘
+2e
5,o49
>3 , i
I
lSe
32^
9
345
*,»e
S19
700
562
625
'*•55 °
793
7
50o
12a
5 :
?I*si5
2_,5g
93.3*0
30 . W 7
- >
20,22;
7. M
S10 2;
^,i~.
*>,.>*
^o'o22*
^>,022
7,045
6.343___________383____________ 21^------ 10*012-----24,030
23,173*
1 ,020,574 ^ __
299,133*
c-9,
...................................................................
C O N T I B S N i l
A I
Nott - " - o u b r * c 5 t io r >
* A °*
1
CONFIDENTIAL
Not for publication
St- 7o3a
LIBERTY 30NDS, VICTORY NOTES AND CERTIFICATES OF INDEBTEDNESS OWNED BY REPORTING LUMBER B M S
ALSO LOANS OF SUCH BANKS SECURED BY EACH CLASS OF U. S« V/AR OBLIGATIONS.
(In thousands of dollars.)
__ _________________ 4
3.
Government war obligations owned by re-porting member banks in each Federal Rcsorvo Bank city.:__________________ .
F.R. Bank
*
Libortv bonds
%
Victory Notes_
^ H ficates of Indebtedness 1______________ Total_______________ ^
Cities
' Dec. 12, 19.19aDoc-5.19198 Doc. 1 2 . 1919 1 Dec,5. 1919*~Itec ,12. 1919 3 Dsc. 5. 1919 1 Dec. 12. 1919___!__ Pqc.. 5,-191.932,464
3 7,6 9 6
Boston
6 j222
7,130
953
1,0 12
30,455
30,322
677,523
64.1,462
New York
245,327
245,917
90,903
93,183
305,172
332,423
77,023
71,053
PhiladslpMa
22,219
22,226
9,425
9,793
39,3^9
44,464
33,432
3 2 ,2 12
Cleveland
9,555
9,759
6,053
b,2o2
lbs6l0
17,411
7,004
7,576
Richmond
5,160
5*713
627
756
1,157
1,107
20
,279
20,027
Atlanta
l,4l4
1,393
724
747
17,229
18,139
10
2,0
52
92,008
Chicago
12,256
IS, 239
21,213
22,244
52,539
61,575
12,465
19,453
St. Louis
5,916
5,897
2,000
2,132
10,553
ll,4o4
2. 241
9,4l4
Minneapolis
1,592
1,455
°30
( 921
64Q13
7,032
;yol±7
1
7
,
3^5
Kansas City
2,346
2,4q4
4,017
4,3^4
4,922
5,179
13,224
12,425
Dallas
5,220
5,070
969
i,ool
6,236
7,153
69,034
67
917 ___
San Francisco____36-29.6_____ 37f471________ 120________ 6.aJ31_______ 25^,441------ _JSi312_
1,03
>25,925 ___ ______ i»
Total
3o5m7»i5
3 69,274
143, Sl4
l 4s, 612
516,396
567 ,647
__1,025,925
2? 55,533
i 5:3
4.
Loans of reporting member banks in Federal Reserve bank cities secured bv
F. R. Bank
1_____ Liberty bonds_____ 1______ Victory Notes_____ 8 Certificates
of Indebtedness ...*_____ --------- -----Cities
1 Dec. 12. 1919 5 Doc.5.1919: Doc.12. 1919 1 Doc»5.1919 7 Dec.12. 1919
* Dsc.. .5.., 1919 ?____ Dec2_.12s__121S— !— Dec— i^lSLlS.
Boston
21,322
22,519
4,033
5,6o4
632
932
2b?053
i S ’X J
227,234
293,531
192,126
.
192,090
12,901
12,752
492,321
New York
70.192
74,221*
22,524
26.251*
1 ,1 2 1
274*
99,237
101,34c*
Philadelphia
Pi
!
031
21
,
0
j
4
4,200
4
,
2.54
229
175
25.460
25,493
Cleveland
____
10,615
10 ;535
3,359
3,515
-13,974
14,050
Ri chmond
Atlanta
3,279
3,831
2,237
2,297
105
, 105
f6,22l
o,2cj>
Chicago
47,209
49,363
15,351
15,525
4,112
4so4o
66,b72
02,922
St. W s
15 329
I5l 184
5,264
4,294
649
623
21,302
21 701
Minneapolis
7,460
7,694
367
342
427
444
2,254
0,420
Kansas City
4,97 2
5,040
657
666
329
320
6,024
u,02e
Dallas
1,142
1,421
366
204
525
25
2,033
1,710
San Francisco
13. 343
13.029 ,3,711,.... _.4.016__________22Q__________ 223_------- --------------- J r l ^ z
503,354
512,522*
266,255
259, 712*
21,326
20, 549*
791,435
792,249*
Total
♦Revised figures.
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER 20, 19 19•
STATEMENT FOR THE PRESS
Re leased, for publication
Sunday looming, December 21, 1919;
not earlier.
C O N D IT IO N
St- 7S0
Federal Reserve Board
December 20, 1919*
OF F E D E R A L R ESER VE BAN KS
Large reduction in the holdings of war paper in connection with the redemption
of tax certificates due on December 15 , accompanied by a commensurate decrease in
net deposits, also the usual Christmas expansion of Federal Reserve note circulation
are indicated in the Federal Reserve Boardts woskly bank statement issued as at
close of business on December 19, 1919*
war paper holdings declined 173*5 millions, while other discounts on hand went
iip 29.2 millions. Acceptance holdings show an increase for the week of Zk.7 mil. lions, the total on hand - 5^6*3 millions ** setting a nsw high record* War paper
holdings of the Chicago and Dallas banks include 22.1 millions of paper discounted .
for other F. R. banks, as against 15*9 millions the week before, while acceptances
hold by these two and six other banks arc inclusive of 136.2 millions of bankers*
bills purchased from the New York and Boston banks. .An increase of 30*3 nillions
in Treasury certificate holdings represents almost altogether the amount of tempo
rary certificates issued to the New York Bank to cover advances to the Government
pending collection of funds from depositary institutions.
GovOiTXijnt deposits fell off about 25 millions, and members* reserve deposits —
gU.U millions, while other deposits, including foreign government credits, increased
1-5 millions*
The "float" carried by the banks, apparently as the result of large
check payments received on Government account, shows a growth for the week of 67.7
millions, while net deposits show a decline of 175*5 millions. Federal Reserve note
circulation went up SI.5 millions, and F* R. bank note circulation - 1.5 millions.
Gold reserves show a nominal decline, while total cash reserves show a reduction of
5-5 millions.
Owing to the largo decline in deposit liabilities the banks’ re-
Bt. 720a
Released for publication Sunday morning Decemoer <^1, lyl^; noc earlier.
STATEMENT OF COMBINED RESOURCES AuD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAUKSDecember 20, 1918
December 12, 1919
December 19, 1919RESOURCES
$335,141,000
$24371427000
, 325,000
Gold coin and certificates
461 .369.000
4o4,d66,ooo
399.935.000
Gold settlement fund - F. R. Board
5.229.000
i
4
c
T
qio;occ
Gold with foreisn agencies
-131.>.717,>.QQQ
202
.339.000
7
2
2
.
124.000
.
772,977,000
Total gold held by banks
1.194.222.000
1 ,1 2 2 ,343,000
1 ,2 0 1 ,654,000
Gold with Federal Reserve Argents
22.421.000
119.221.000
115.122.000
Gold redemption fund
2
.
072
.922.000
$
2
,
0
96
,
222,000
$
2
,
0
95
,
213,000
Total gold reserves
54.636.000
6
4
.
117,0
0
0
~
5
9
.
OQS.OOO
Legal te^aer notes, silver, etc.
2.133.624.000
2 ,16 0 ,405,006
2 ,1 5 4 ,9 11,0 0 0
Total reserves
1 ,299,5?-*+,000
1,522,417,000
1 ,4 1 4 ,950,000
(Secured by Government war obligations
Bills discounted (An Qther
3o§,77S,000
550.999.000
520 ,162,000
540.765.000
... 56 6 ,266,000
541.551.000
Bills bought in open market
1
.
947
.067.000
2
.
620
.
967.000
2
.
5
6
1
.
372.000
Total bills on hand
22
.250.000
26
.
247.000
26
.
246.000
U. S. Government bonds
54,000
54,000
U. S. Victory notes
*325 ,073,000
2 73 .219.000
30 3 ,552,000
U. S. Certificates of Indebtedness
______
16,000
All other earning assets
2
.
301
.
006.000
2
.
9
2
1
.
027.000
2 .2 9 1 .236.000
Total earning, assets
1 2 .925.000
1 2 .926.000
Bank premises
226.231.000
9
2 3 .527.000
1.140.224.000
Uncollected items and ocher deductions from gross deposits
5 .220.000
1
2
.
961.000
13.333.000
5fo Redemption fund against F„ R, bank notes
2
,
276,000
20.793.000
11.314.000
All ether resources
5.222.134.000
6.159.241.000
6.224.604.000
TOTAL RESOURCES
LIABILITIES
20,525,000
2 7 .002.000
27.049.000
Capital paid-in
2
1
,
027,000
1 ,134.000
2
1
.
027.000
Surplus
693.000
32,
2
9
,
503,000
64
,
459,000
Government deposits
1,642,
4^4,000
1,217,406,000
1
,
73
3
,
013,000
Due to members,- Reserve account
5
2
2
,
755,000
759.554.000
542 .607.000
Deferred availability items
10
6
,
^
59,000
105.425.000
1 0 5 .069.000
Other deposits, including foreign government credits
521,000
2
.
7
6
9
.
951.000
2,37b,
2 ,7 51 ,1^ ,0 0 0
Total gross deposits
2 ,663 ,701.000
2 .9 0 7 .435.000
2.928.294.000
F. R. notes in actual circulation
1 1 1 ,909.000
252,444,000
259,975,000
F. R. bank notes in circulation - net liability
5 5 ,322,000
__ 54, 224.000
56,451,000
All other liabilities
6 ,1 5 9 ,241,000
5,222,134,000
6.224.604.000
TOTAL LIABILITIES
Ratio of total reserves to net deposit and F. R. note
50.6 fo
46.0 f>
*Includes 1-year
46.2 $
liabilities combined
Treasury notes.
Ratio of gold reserves to F.R. notes in circulation after
59-7 fo
53-2 f
setting aside 55fo against net deposit liabilities
Released for publication Sunday morning, December 2 1 , 1919; not earlierSt.ftSGb
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS DECEMBER 19, 1919RESOURCES
(in thousands of dollars.)
Dallas San Fran. Total
Boston Ifew York Phila. Clevel. Richm. Atlanta Chicago St-Louis Minn. Kans-Cjr. '
Federal Reserve bank of
8,203
Gold coin and certificates
156,21+9
2l+,070
8,285
166
8,288
2,853
2,1+03
$.679 12,550
1,192 10,387
21+1,325
Gold Settlement Fund-F.R.Board
87,692 30,396 29,939 31.987 23,002 6 s,11s 13,909
6,183 20,1+30 15.397 3 M 15
38,567
399.935
Gold with foreign agencies
6,610
50.5U2 11.017 _11.293
3.718
1+.958 16,388
3.581
10,053
6.335
6 , 1+73
6 ,71+9
137,717
56,823
Total gold held by banks
29*+, *+83 1+2,605 51.619 1+1,139 36,21+s 108,576 23,235 18,186 27,206 25.657 53.200
77S , 977
Gold with F. R. Agents
71,930
288,751 79,^58 116,925 1+2,031 60,585 251,202 65,258 31+,275 39.977 26,1+51 I 2l+,811 1,201,651+
2,SSI S,l62 115,182
Gold redemption fund
3,961
574 10,065
1,671
23.317
. 2M 73 15.030
6,559 13 , *+73 l+,6l6
152,070
Total gold reserves
60s,107 137,093 169,11s 93,235 103,392 373,251 93.109 5^.132 71 , 1^
5^ . 9S9 186,173 2 , 095,813
Legal tender notes, silver,etc.
31+S 1,242 ___ 327 ...... 59,098
66S
3 , 725_ __46,269
is6 1.038
2,11+0 2,559
5W
52
Total reserves
65^,376 137.637 169,786 93, tel i0i+,i+30 375.391 95,66s 5l+,18l+ 71,^92 56,231 186,500 2,15l +,911
155,795
Bills discounted:
Secured by Government war
obligations (a)
13*+, 32*+ 515,035 177,655 112,251+ 89,1+06 61,81+3 135,715 1+3.501 23,20l+ 39,321 1+1,107 1+1,535 1,1+11+, 950
All other
5SO,i62
**9.559 143,537 27,154 43,951 19,179 31,173 101, SSk 27,621 ul+,1+65 ^5.998 11,308 28,233
Bills bought in open market (is) l b M z
179.382
U,70l+ 56,867. 1M9I+ _ 17. 12S 105,917 37.112 15, 381+ 20,297 . . 8,277 . 92,392
566,266
Total bills on hanc£837. 95^ 209,513 213,072 122,979 110,11+1+ 31+9,616 108,231+ S3,053 105,616 60,692 162,210 2,561,37s
198,295
U.S. Government bonds*
S1+1+ 1,235
116
2,632
3.966
1,257
26,31+6
539
8,867
1,385
1^77
1,153
375
U. S. Victory notes
•
1+
50
&
U.S.certificates of indebtedness
21.598
303,558
97,493 31, 13^ 25.131 12,260 15.666 39,885 17.309
8,575 13,899 . 9,1^5 11,1+63
Total earning assets
220,5+32 936,754 21+2,032 239 ,01+7 136 ,1+7*4 126,189 393,978 126,696 91,7!+!+ 128,382 73,803 176,305 2 ,391,836
Bank premises
500
1,091
890
50s
600
1+62
1+00
12,986
691
3,99*+
399
515 2,936
*
Uncollected items and other de
ductions from gross deposits
25^,786 90,192 96,071 91,538 5 1,9 11 1 5 1 ,291+ 78,915 28,521 89,306 55.856 55.837 1,1^+9,221+
95.697
5/& Redemption fund against F.R.
bank notes
2,922
551+
1,072
518
1+76
665
587
957
1,1+75 1 ,201+
939 1 , 961+
13.333
All other resources
296
1x281..
62S ...5.95
51+0
...3P3„
1+11+ - 1 1 ,31 ^
11+8 __ m .
382
126
TOTAL RESOURCES
i+7I+,3S3 1,85^.119 ^77^32 507,626 323.123 28^,132 926,356 302,821 175,993 291,139 187,1^6 >+20,121
(a) Includes bills discounted
for other F-R.bariks,viz:
(b) Includes bankers' acceptances
bought from other F.R.banks:
With their endorsement
.Without their endorsement
-
-
-
-
-
-
lU,900
5,080
-
5 ,0 6 5
-
8,100
25,307
23,008
19 ,9 3 8
9,883
-
10 ,0 0 5
o,22k,&Qk
20,000
-
28,100
5,0 6 5
1 ,3 0 1
10,081
7 0 ,5 3 6
65,663
6 ,5 6 6
St. 7S0c
Released for publication Sunday morning, December 21, 1919 ; not earlier.
™ C3!™ lq iqia
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANiffi AT CLOSb. Ofl HJSIi^SS DoCILBER 13, Jjlj
(in thousands of dollars.)
LIABILITIES
Total
Dallas San Fran.
PhilaClevel.. -Bicita- Atlanta ChicagoSt .Louis iJinn. l^ns.Oy.
Federal Be serve bank of
Boston New York 7 S75 9,432 4-,392 3,^lg 12,347 4-,060 3,074
37,049
3,-17
5,4-37
4-,007
22,386
31,087
Capital paid-in
2,029 4,573
5
!
3
11
5
,
Sob
3
,
8
oo
2,305
9,710
2,5S3
?«320
3,957
32,922
64,459
Surplus
5»?Q°
m
o
5 qo4
"5 400
5 991 8,705
2,735 2,932 2,OSS 7,9^3 2,44-9 1,4-30
-630
Goverment deposits
^u,xo6si 610 q4-’ 930 12 ^ 907 5 9*95 4 5 6,97 S 240,563
65,909 50,690 /7,202 53,961 112,^79 1,733,013
Dae to members — Reserve acccunt 111^030
lfs,8% 90:7 7 1 ^ 1 7 3 S3;610 33,057 104,328 53:368 l9 ,OS5 69,390 34,039 26,600
348,0)7
62,312
Deferred availability items
Other deposits including
6.^36 3.622 2.891 11,322
3,984___2,700 _5.,I3.2----- 2, 09) 11 , 9^3,
foreign government credits
.5 , 90-1
igokl!
8bb
ITT 106 631
9^8 13X
Tj
l & W
Total gross deposits
*
1
1U7
J
J
*
7
,
7
C
f
c
108,
It,* * 2k2 ,o'-*
F.R.notes in actual circulation
a.&Z
5 5 ,^ 5
F.R.bank notes in circulation net liability
56.4-51
6.'459 1.902
1.779
2. cSo l,4l4- 4-roio
2, 251 . 2.152
TjTS06
21.772 4.202, 4-.010
All other liabilities
4-7^,333 1,354-, 119 4-77 ,633 507*626 323,123 2S4-,i32 926,356 302,323 175,353 231,133 137,i46 U20.121 o,224-,6q4TOTAL LIABILITIES
11 E M 0 R A N D A
Contingent liability as endorser on Discounted paper rediscounted
_
7,000
“
23,100
- 21,100
with other F.B. banks
Bankers1 acceptances sold to
70,536
other F.B. banks
70,536
1HEBAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
909,363 £4-3,606 272,'433 153,^7 159,650 523,257 163,952 87,621 103,344 75,625 2Ti ’ S
3’
245,517
F,B.notes outstanding
-ljbi1*221
-3,2^3
-231.
,,abb.
?
.
0
^
.
?
4
S
10^65 12.^05
6.000
5.730
25,033
7,10b,
F.B .notes held ty bank
9
i
g
'
a
?
1 ^
S 0
6
9
’
9
9
6 1 5
i g
s
2 ^
P.P..notes in actol circulation 238,211
Bills discounted
Bills bought in open market
U. S. certificates of indebtedness
' o
a
s
2 0 5
a
2 3 3
9 1 1
S
3
1 5 3
S
’
2
l M
2
0
t a
1 2
) 0
6
7
1 5 3
3
x
^
3 £ 0
i o
S
5
8
1 3 3
' 4 9 8 , 1 7 * *
^
7
1
8
1 5
, 3
®
9
5 < ? 3
S
S
8
. I S
, 0
9
*
3
7
,
5
5
2
1
5
2
,
3
0
2
2
,
0
2
> 9
1
,
1
^
S O T
1
9
, 3
1
5
1
0
, 2
3
2
u
, 7
0
;
, 3
7
5
806,615 233,2 M 260,188 1U7.U27 153,320 k3S, if* I'il.lOk $6,ifc 102,807 72,to2 Zte.OW 2,988,89H
DISTRIBUTION OF BILLS AND U.S. CERTIFICATES OF INDEBTEDNESS BY liATURITIES
Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 90 days
18, 354151,465
362,091
134,643
1,323,059
147,969
183,330
106,219
123,243
237,653
9,029
2,072
6,221
>+8,578
Total
1 ,995,112
566,266
303,553
P©leased fcr publication. Sunday Tuornin^, Decedber 21, 1919;
nQt earlier.
St.
JSQd.
FEDERAL EESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS DECEMBER 19, 1919(In thousands of dollars.)
Eederal Reserve Agent at
Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy.
Dallas San Fran. Total
FEDERAL RESERVE NOTES:
Received from Comptroller
475,980 1 , 9 ^9 , 420 510,7SO 4bS, 44a 300,400 294,000 823,080 293,000 149,480 201, 1.60 135,780 395,740 6,000,260
Returned to Comptroller
189,483
Chargeable to F.R.Afeent
In hands of F, R, Agent
Issued to F.R. bank less
auo'ont returned to F.R.
Agent for redemption
933,557 238,034 171,407 127,735 ’90,895 252,023 109,748
286,497 1,015,863
40,980
106,000
245,517
909,863
-
183,740
272,746 297,033 172,665 203,105 5^1,057 183,252
29,140
24 , 54o
19,23s
43,455
17,800
14,300
243,606 272,493 153,427 159,650 523,257 168,952
S5 »3^b
47,860 123,925 2 ,454,972
94,581 115,814
90,920 271,755 3 , 5* 5,258
54,899
6,960
5,370
15,295
1,150
324,72s
87,621 109,94-4 75,625 270,605 3,220,560
COLLATERAL SECURITY FOR
JTSIANBIITG NOTES:
Gold coin and certificates
on hand
— . 32,525
2,500
Gold redemption fund
16,930
15,011
13,069
14,400
Gold Settlement Fund -F.R.
Board
55,000
90,000
66,339
70,000 40,000
173, 5S7
Eligible paper, miniimm.
required
Total
AMOUNT OF ELIGIBLE PAPER
DELIVERED TO F.R .AGENT
2,031
3,085
9,058
4,000
13,052
-
8,831
5,327
1,423
3,617
5,136
244,648
20,913
110,000
847,006
55,000 242,144 55,931
19 ,800 36,360
12,4s4 103 ,89^
621,112
l64,148 155 ,56s 111,396 99,065 272,055 103,694
53,3^6 69,967
49,17.4 145,794 2 ,018,906
245,517
909,8.63
Z43 ,606
198,295
*36,153
178 ,544,210,807 116,906 109,634 349,436 108 ,234. 70,606 105,561
272,493 153 ,427159,650 523,257 16 s,952
87,621 109 ,944- 75,625 270 ,605 3 ,220,560
60,693 149,165
2,494,031
STATEMENT FOB TEE PRESS.
Released for publication
Monday morning, Doc* 22,
1913; not earlier.
St- 731
Federal Reserve Board,
Deo. 20, 1919*
CONDITION OF MEMBER BANKS.
Large accumulation of demand deposits preparatory to the payment of income
and excess profits taxes due on Deccubsr 15; also reduction in the banks1 net hold*
ings of Government securities and war paper, chiefly of Treasury certificates,
are indicated ty the Federal Reserve Board's weekly statement of condition on
\
December 12 of 796 member banks in leading cities.
Other loans and investments,
including loans secured toy stocks and bonds, show a more than commensurate increase*
United States bonds on hand declined 2.2 millions and Victory Notes - 4.9 mil
lions, while the reduction in Treasury certificates was 69*3 millions.
Liquidation
for the week of 7*5 millions of war paper (exclusive of rediscounts), is reported,
practically the entire amount being shown for banks outside of New York City. On
the other hand, loan’
s secured ty stocks and bonds went up 44*3 millions, of which
35*9 millions was in New York, and all other loans and investments increased about
60 millions.
Net withdrawals of 119*1 millions of Government deposits and additions of 200.3
millions' to other demand deposits .(net) are shown for the week, while time deposits
went up about 13 millions.
Reserve balances with Federal Reserve banks show a de
cline of 3-8 millions for all reporting banks and of 17*5 millions for New York City
banks alone, while cash in vault decreased 2«4 millions.
Accommodation ty the Federal Reserve banks, as measured by the total of the re
porting banks' collateral notes and rediscounted paper, shows an increase of 36«1
millions fcr the week. Rediscounts, largely of ordinary commercial paper, continue
to increase, while collateral notes show a decline, the reason apparently being
that inmost banks 15 -day paper no longer carries a preferential rate.
The state
ment shows for the first time a classification of bills payable and of rediscounts
or not
war
according to whether/they are secured ’
ey Government/obligations . All but 5*3 mil
lions of the collateral notes are secured ty Government war obligations, while of
the rediscounts only 322.2 millions are war paper and 46l,6 millions are ordinary
commercial paper . The gross amount of war paper held by the reporting banks or
rediscounted with the F. R. banks was 1342.8 millions, as compared with 1348.3 mil
lions the week before.
Released for publication ilonday morning, December 22, 1919. not. earlier.
PRINCIPAL RESOURCE 'I© LIABILITY ITSL-IS OF REPORTING !.®GEu DANIS HI LEADING CITIES.
Dec.12, 1919
796
Number of reporting banks
Dec.5 , 1919
St.'/Sla
Sept.12,1919
796
June 13, 1919
774
771
U. S. bonds to secure circulation - - - - - - - - - - - - - - - - - - - - - -
269 >S50
269,425
269,551
260,566
Other U. S. bonds including Liberty bonds
622 ,72c
631,374
632,065
636,292
U. S. Victory notes - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
251,624
256,465
312,622
424,665
u. S. Certificates of indebtedness
792,722
262,017
1 ,111,250
1,422,736
1,942,924
2 ,019,221
2,326,034
2,752,253
1,020,574
3,243,062
9,246,637
1,022,107
3,204,245
9 ,126,627
-‘-.309,370
3 ,011,413
■ S,492,379
l,4oo, 052
1,402,429
1 ,406,193
1,323,421
1,257,523
Cash in vault - - - - - - - - - - - - - - - -
393,552
395.9S7
368,649
374,450
Net demand deposits - - - - - - - - - - - - -
11,4o4,28'9
1 1 ,203,394
1 1 ,220,361
10 ,527,030
_____
2 ,223,673
2 ,270,672
1,922,472
1,729,575
Government deposits - - - - - - - - - - - - - -
295,962
415,063
505,296
945,738
Bills payable with Federal Reserve bank:
Secured by U. S. war obligations - - - _ _
All other - - - - - - - - - - - - - - - -
9 71,714
920,126
1 ,119,496
5,340
)
)
1,037,142
4,942
Bills rediscounted with Federal Reserve bank:
Secured by U. S. war obligations - - - - All other
322,204
320,170
419,422
)
)
312,449
274 ,127
22.2
26.0
Total U. S. securities - - - - - - - - - - - - - - - - - - - - - - - - - Loans and investments, excl. of bills rediscounted with F*R. and other banks:
Loans secured by U. S. war obligations — Loans secured by stocks and bonds other than U.S. securities - - - - - - All other loans and investments
Time deposits - - - - - - - - - - -
Ratio of U- S. war securities and war paper to total loans and investments,
- per cent - - - - - - - — _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
461,599
18.0
{
/
10,729,472
iso. ys lb
Released fo r D uplication Monday morning, December 22, 19 19 ; not e a r lie r .
BUS
HIES
S
DEC-12,
1
AS
AT
CLOSE
OF
DISTRICT
1919PRINCIPAL lESOURCE ASP LIABILITY I ISIS 03• ALL E3P0ETISG lO.IBSH BA1CC5 III EACH FEDEEAL 3ESEEVE
(Amounts in thousands of d o lla r s .)
Bes ton Hew York P h ila . C le v e l. Sichm. A tlan ta Chicago St-Louis —inn. 2Kins. Oy. D allas San Fran. Total
Federal Reserve D is t r ic t
No. rep o rtin g banks
46
112
56
•so
82
47
107
35
22
43
61
796
U^S.bonds to secure c ir c u la tio n
13,536
1+0, o87
11,037
1+1 , 24l
2b,271
14,015
20,873
17,153
7,120
14,467
19,573
35,017
269,250
Other U. S . , in c l.L ib e r ty bonds
14,336
275.44c
29,556
63,222
36,3^1
22,637
53,099
14,734
10,322
25,107
20,683
57,066
622,723
7.744
103,132
12,930
26,327
12 , 901+
9, 01+5
45,930
5,348
3.376
7,546
4,100
12,582
251,624
U .S .c e r t if ic a t e s of indebtedness .*4*5»9^
- --324,934
Z.TZ-—
. j 7 j *1—
1+3.531
60,273
22,719
117,332 , 13,034
17,946
20,462
21,331
6 1,023
792,722
237,234
32,764
67,522
65,632 165,633
1,942,924
Loans and investments exclu siv e
of b i l l s rediscounted with
F.R. and other banks:
7,463 30,072
93,340 30,417 15,052 20,233
33, 1+5!+ 523,199 105, 16s 39 ,111 37,554 24,515
Loans sec.b y U.S.war oblig*
128,281
154,142
23,237
30,223
72,563
468,290
Loans sec.by stocks <* bonds 200, 95c 1 ,^30,330 215,032 350,165 1 1 5 , 66s 52,321
210,544
729,061
249,601
463,262
309/416
1
,
361,089
A ll other loans & investments 666,797 3 ,282,980 486,520 794,301 3^1,332 351.794
1,020,574
3 , 249,062
9, 246,697
U.S. V icto ry notes
Total U. S. s e c u r itie s
21,557
752,393
38,125
3 7 ,114 192.3S3 lQl+,235. 29,9^2
50,323
He serve balances w ith F.R. bank
g'4,696
677,355
62, 027
91,741
1+0,902
35,365
192,257
43,322
23,600
43,202
22,216
73,020
1,402,429
Cash in va u lt
26.520
132,605
19,576
35.632
17,361
14,032
72,093
12,322
9.10 1
16,103
11,763
26,372
393,552
Met deimnd deposits
206, 62s 5, 099,590 674,581 237,166 3 71. 22S 297,969 1 , 415,244 352,307 244,222 474,487 234,160 596, c47 1 1 ,404,229
Time deposits
122,364
393.292
22,231+ 326, U53
Government deposits
22 ,o40
l l U ,60b
17,100
22,211
10,251
14,304
B i l l s payable with F.R. Bank:
Sec*by U.S.war o b lig a tio n s
. A ll other
34,3SG
1+52,05!+ 20,929
90,959
52,637
56>7b7
33,is5
ll|l;,U43
135,906
9,677
39,290
10,252
11,5 5 1
B i l l s re d is c , w ith F.R. Bank:
Sec. by U*S. war o b lig a tio n s
A ll other
76,730
12 ,177
35.127 352,641
2 , 223,673
12,335
15.759
295,962
28,043
3,670
13 ,175
215
41,030
ICO
971,714
4,127
31,612
73
4,252
2,642
322,204
IS.765
461,599
553,391 110,757
59.597
23,632
32,427
10,437
1,169
2,263
45,240
505
94,303
12,506
750
13,352
100
3,150
28,192
7,265
8 6,624
4,230
24,152
2 ,12 S
34,227
96,687 120,172
5,340
Released for publication Monday morning, December 22, 19 19 ; not earlier.
‘
St-TSic
PRINCIPAL RESOURCE AND H I A B I L I T Y ITEMS OF MEMBER B A M !S III F. R . EANK AND B R A N C H CITIES AMD A L L OTHER R E P O R T IN G BANKS.
______________________________________________ (Amounts in thousands of dollars.)_______________ ________ ;
_______________
Isew York City
City of Chicago
All F.R.bank cities F.R.branch cities
Ail other
reporting banks
Bee.12-- -Bee. 5
Dec. 12— -— Dec. 5
Dec-12—— Dec. 5
Dec. 12— •— Dec. 5
-iumber of reporting banks
50
50
178
3^2
71
276
276
178
342
71
U.S. bonds to secure circulation
39,190
39,062
1,438
1 ,43s
102,036
102,009
66,611
66,413
101,203
101,003
Other U.S. bonds, including Liberty bonds 245,387
245,917
18,256
18,239
365,715
369,274
13^,733
132,557
123,275
129,5^3
93,123
21,213
22,244
143,814
l4s,612
56,093
55,244
51,717
52,609
305,172
333,423 ..52,539
61,575
516,396
567,647
164,024
174,906
112,302
119,464
680,652
7l6,5S5
93,446
103,496 1,127,961 1 ,187 ,5^2
421,466
429,120
393,^97
402,619
66,672
782,600
68,988
791,435 798,849 118,445 119,9^7 110,694
109,311
420,838 417,228 413,467- 419,723
369,595 2,414,757 2 ,367,889
770,445 5,842,846 5,800,927 1,690,131 1,630,319 1,713,720 1,705,441
129,277 1 ,036,069 1 ,056,660
186,452
178,225
179,903
171,308
232,160
66,301
68,228
93,674
95,599
U. S. Victory notes
U. S. certificates of indebtedness
Total U. S. securities
90,903
Loans and investments, exclusive of cills
rediscount3d with P.P.. and other banks:
Loans secured by U-S..var obligations 498,321 498,373
Loans secured by stocks and bonds
1,292,134 1 ,256,169
All ether loans and investments
2,922,888 2 ,503,600
373,458
Reserve balances v/ith F.R. bank
637,966
655,^73
132,118
Cash in vault
.118,772
119,883
42,917
-Tet demand deposits
4.,659,045 4 ,573,006
42,737
233,5S3
355M s
944,723 8 ,032,007 ■7 ,918,022 1 ,606,613 1,559,323 1 ,765,669 1,726,149
250,855 1 ,125,621 1 ,116,456
607,512
604,279
550,540
549,943
Ti™e deposits
310*148
305,433
251,940
Government deposits
107,757
163,046
2 1,15 5
31,925
215,836
309,917
42,340
52,296
37,786
52,850
416,234
43,o4i ' 49,959
64s,441
647,480
215,192
115,144
750
750
208,129
4,085
3,2 5 2
505
117,514
940
5,030
57,147
282,462
335,133
278,141
293,912
20,033
21,391
75,134
76 ,8 56
19,709
51,277
20 ,63s
48,660
13.0
17-9
18.6
17-9
18.2
15*3
15 * 6
Bills payable with F, R, Bank:
S3cured by U. S.. war obligations
*+15,069
All other
Bills rediscounted with F.R, Bank:
Secured by U.S. war obligations
13 s, 605
All other
124,155
Ratio cf U.S. war securities and war paper
"to total loans and investments,per cent
2 1 .1
140,348
100 ,37 s
21-9
3,447
75,131
1 2 .1
C O N F I D E N T I A L
Not for publication
Earn
ings
AVERAGE NUMBER AND MOUNT
OPERATING EXPENSES
OF ITEMS HANDLED DAILY (a).
Per cent
Per cent
Sal
of total
of total
aries
Total for all Number for all
Aipount
branches
branches
Buffalo
$2,677$! 5 >'^9
Cincinnati
7 ,29s 11,423
Pittsburgh
10,051 17,045
Baltimore
S.97S 12,129
New Orleans :;109,567
6,034 13.202
Birmin^^am
2,372
4,ioo
Jacksonville
2,525
4,376
Nashville (c)
1,339 .1,933
Detroit
94,425
7,152 (d)IS,944
Louisville
^9.067
M O3
6,592
Llernphis
73,7’42
5,625 10,311
Little Rock
3 1 ,^03
3.339
5,157
Denver
.23,435 5,57^
o,930
Omana
s,266 11,376
119,355
El Paso
4,72b
23,277
6,749
Houston
61,076
6,376 11,027
Seattle
24,101
M76
7,215
Portland
10,651
5,222
3,237
Cto
COO
Spokane
24,003 4,ss4 c
\jy
Salt Lake Cit,y 37,366
6.339 10,250
TOTAL
Savannah agency
s .09
5 -9S
5 -92
6 .3s
6-91
2 .15
2.29
1.0 1
9-92
3.45
5- 4o
2-70
4-70
5-96
3*53
5-77
3-72
2-77
4.61
c
C<
y-O
'?
O
736 ,46s 112 ,6 71 191,016 100 .
r_______409
FEDERAL RESERVE BOARD
DI1rISI0?r OF EFFORTS AITD STATISTICS
D5CT3JBER 22, 1 9 1 9 .
st-723%
OPERATIONS OF BRANCHES OF FEDERAL RESERVE BANKS FOR THE MONTH OF OCTOBER, 1919-
20.US5
25,326
32,123
29,^56
5,096
6,553
5 ,SCO
6,534
10,226
5.S70
6,012
12,210
17,^92
7 ,6si
6,202
2,929
6 ,s u
7,225
16,613
Received
94 ,222,095
1,712.000
Volume
of
paper
discounted
and
bought
(b) $90,175 ,SOI
$^,243,175
24,739,699 $29,6 15 .73*+ 66 ,706,413
40,695,655
1 4 ,967,213
10 ,327,134
26 ,757,250
1 3 ,372 ,22c
19,79^,31S
6,959,664 I2,l4l J 12
20 ,160,525
5,504,044
2 7 ,073,199 29,517,295
6 ,707,224
5>353>S12
1 2 ,100,931 1 2 ,277,012
5 ,226,435
1 2 ,406,037
12 ,043,310
2,415,240
10,431,327 5,360,774
14,059,327 21,402,644
91,255,273 113>762,609 150,723,225 234,272,
600,500
(a)
(b)
(c)
(d)
Shipped
Other
deposits
Average
gross
daily
(Average of (Average of
bill
Friday
Friday
holdings
night
nightfigure;?)
ficure's)
Due to
Head. Office
8.30 $ 6,92 ,326 $5,53T»3S7 $9,423,000
10 .2S 8,934,767
7,671,466 5,399,092
1 5 .44 .1 7 ,330,424 17,265,955 19 ,052,390
7 ,716,232
11.93 1 5 ,041,296
7,31+9,35C
3-22 4,377,964
4 .296.000
2 .300.100 $lS,Cc7,213
2.65 3 , 266 , 6s4
1 ,225,390
5.935,595
2 ,627,443
1 ,262,122
2-35 1 ,341,952
461,500
1 ,614,950
£ •05 5 ,o4o,ooo 12 .770.200 22 ,233,500
4.14 3 ,216,056
4,664,90s 2 .294.100 10 ,114,034
2.3S 2,040,900 3,111,647 1 1 ,424,350 2 3 ,392,124
2.43 1 ,474,226
925,515
3,791,719
9,696,149
4.94 2 ,913,156
2,466,631
1 .154.600
7*09 5 ,306,193
2 .097.000
1 ,207,000 1 6 ,415,172
3*11 1,^70,593
4 ,922,071
1,51S,321 1 ,033,520
1 ,096,226
3 ,565,150
2 ,93^,676
2-75 2 ,643,230
3.62 3,9S7,lo6
3,55^.294 3 ,299,565
130,095
2.76 2 ,615,042
2 ,273.600
2 .322.600
3-17 2 ,415,322
356,242 1 ;022,200
1 ,576,032
639,150 16,694,664
-6^73 4,541,19S 1 .055.200
246,910 100 .
700__ -
CURRENCY
7 7 ,^27,072
69,231,270
3 1 ,33s , 162
1 1 ,000,337
9 ,001,500
59,700,700
4,642,172
25,3S0,909
16 ,426,500
3,272,624
5-571,209
32,295,672
125,405,096 509,^30,953
__
Period September 16 to October 1 5 , 1919 .
Transferred to bocks of head office on day following discount or purchase.
Opened for business October 2 1 , 1919 .
Increase over preceding month due to a charge of $9,1'44 against all other expenses.
CONFIDENTIAL
Not for publication.
GOLD WITHDRAWN FROM THE FEDERAL RESERVE SYSTEM,
During the period from September 27 to October
(In thousands of dollars.)
' Paid to
Federal Reserve Bank ' the U. S.
'Government
1
’ Withdrawn ' Sale of
'
for
'gold with
1 export ’ foreign
1
'agoncios
1 Withdrawn for
* use in the
f industrial
1
arts
Boston
1,150
-
762
110
New York
7,231
8,900
3,236
7,083
Philadelphia
5,125
-
835
Cleveland
4,200
Richmond
2 ,828
Atlanta
St. 798
1919 , inclusive-
'Witndrawn for'Miscellaneous 1
' reserves of 1
or not
1
1
banks
' specified
'
1
1
Total
1
-
2,022
6 ,60*
1,15 8
3*,812
100
-
86
6,206
857
-
-
-
5,057
-
512
-
-
-
3,3*0
7,799
-
376
-
52
-
8,233
Chicago
*,992
-
1 ,2**
-
11
-
6 ,2*7
St. Louis
*,3*8
-
*90
-
11*
-
*,952
282
-
28
-
927
—
Minneapolis
617
Kansas City
669
-
502
w
-
-
1,171
Dallas
816
171
273
-
52
13
1,325
San Francisco
3*2
6*
36.703
1,321
110,995
Total
*0,177
35J51P_...
**, 887
FEDERAL RESERVE BOARD
DIVISION OF REPOSTS AND STATISTICS
DECEMBER 2*, 1919.
*81
10,*50
7,293
6,867
st. 796
GOLD RECEIPTS AND DISBURSEMENTS OF EACH FEDERAL RESERVE BiOSK HIRING viEEK ENDING DECEMBER 5, 1919 .
(Figures do not include gold received from or paid to another Federal Reserve Bank.)
(In thousands of dollars.)
RECEIPTS
All
r Credits to deposit accounts
% '
In exchange for F. R. notes
other
Total
foreign
l
U„S
.Government1
Member
1
Other
banks,
F
r
o
i
.
1 From U» S.
N,
S,
agencies
receipts
'
Goneral
account'
banks
1
Total
Total
—
— —
14,261
14,000
lb9000
26l
150
92
Boston
19
is, 129
S
92
15,000
17,231
2,231
6
—
3
New York
3
4b
_
11
11
35
35
P M ladolphia
222
121
121
101
3S
63
Cleveland
12
12
19
7
V
7
Richmond*
US
1,462
65
65
1,3*9
j^tianta
1,3*9
446
423
4
21
*23
17
Chicago
so
SO
so
—
—
—
St - Louis
4
29
70
b
29
37
31
Minneapolis
1,028
1,023
1,000
23
5
5
Kansas City
1
—
—
—
31
32
31
Dallas
2
—
1
X
xJf-ijia.Prancisco
ilCiiiw*.OUy
San
36,050
30,000
9*7
88
1 ,800
33,303
3,303
212
Total for system
1,500
!
D I S S U S S E l ;i:E it t s
r
1
All
1
T
r Debits to deposit account
In exchange for F . R. notes
%
T
i
1
Total
1
other
foreign
1 To U. S* 1
1 1,
1cmber
1
U. S.
1 Other banks, 1
To
1
N.
S.
1
Disbursauents
1 Government* neuters 1individuals,etc. 1 Total
agencies
’
Total
1
1
banks
1 Government
3 S6
202
—
ISO
ISO
4
k
Boston
lb,S
3S
1,013
2
,107
12 ,177
12,177
1,5*1
3
New York
15
1,523
w
1
,
111
221
44s
51
391
51
44s
Philadelphia
1,256
469
226
561
561
Cleveland
2
2
369
219
135
13
219
Richmond
1,73
4
6
6
1,629
1,629
99
Atlanta
__
520
—
1,263
4i4
329
4i4
Chicago
1,296
164
130
1,002
164
St♦ Louis
3.41
66
75
6*
2
Minneapolis
24o
—
16
132
- .
92
92 •
ICansas City
114
—
617
366
72
366
65
30
35
Dallas
6 .6s6
7 .6 11
7.611
. .17,176 ...
127
s
2.721
... _2 ,7.2.2....
23
San Prancisco
42^*27
2
J
61
60
2
,
72
*
20,392.
20,393 _
iiai§_ __
1,955
5,i71 _
—
30,000
12,910
152
Excess receipts
2
.7
6
1
.6,317
.
...
..
2,656
.
.
17,.090.,
10 ,3 .
71_
E-roess payments ...
iv6l l ._
. 6ti&5...
CONFIDENTIAL
Not for publication.
FEDERAL RESERVE BOARD
DIVISION
OF REPORTS AND STATISTICS,
2^ 1919.
s t .792
CONFIDENT IAL
Not for publication
Federal Reserve
Bank:
RATIO OF TOTAL RESERVES TO COMBINED FEDERAL RESERVE NOTE AND NET DEPOSIT LIABILITIES,
RATIO OF GOLD RESERVES TO F.R. NOTES IN ACTUAL CIRCULATION
AND OF GOLD AND LAWUL MONEY RESERVES TO NET DEPOSIT LIABILITIES OF
ALL FEDERAL RESERVE P A N I C S . ____________ December 19, 1919
Ratio c-f gold reserves
Ratio of gold and
Ratic of total reserves to Ratio of gold reserves to F.R. notes in
to F. R. nctes in
lawful
money
treserves
actual circulation after setting aside
net deposit and F. R. note
actual
circulation
to
net
deposits
3 5 against net deposit liabilities
liabilities combined
Dec.12-—
-Dec. 19___
December
12—
Dec.
19
December 12— — December 19_________ „
December 12— -December 19
4o.o
Boston
42.3
45.6
46.0
50.1
45.2
58.4
40.8
New York
41.3
44.6
47.2
52*5
42.1
51.6
40.5
3S -9
Philadelphia
1+0.0
40.3
42.4
42-8
39.0
4o.o
40.5
40.5
Cleveland
46.6
45.9
52.4
50.5
46.8
47-6
46.5
45.2
Richmond
44.4
44.7
48.5
48.7
62.7
67.0
36.6
35-3
Atlanta
49.5
50.1
54.6
55-4
73-9
68.1
40.9
43.6
Chicago
54.s
53*2
64.6
60.8
54.6
53-3
54.9
53.1
St- Louis
53*5
47.s
61.6
52.3
47.5
49-3
56.2
47.3
Minneapolis
44.4
41 .1
49.5
44.3
47.6
39*9
42.6
U l .7
Kansas City
40-6
41.6
44.7
46-0
37-0
39*9
43.2
42.7
Dallas
51.4
49.3
62.3
57*5
66.3
64.4
41.4
40.5
San Francisco
53-1
55.1
6 1.s
6^.1
61.0
55.5
50.0
54, 9.
46.0
46.8
52.s
53.2
47.7
52.0
45.O
44.1
ToSal
FEDERAL RESERVE BOARD
" DIVISION OF REPORTS AND STATISTICS
DECEMBER 24, 1919.
•
fr:
FEDERAL RESERVE BOARD
G O L D S E T T L E M E NT F U N
ending December 2U.IS1S_______ ___________ _
Summary of tran sa ctio n s f:
A g g re g a te
F e d e ra l
R e s e rv e
Bank o f—
B c s to n
N ew Y o r k
P h ila d e lp h ia
C le v e la n d
R i chm ond
A tla n ta
C h ic a g o
3 t-Loui s
M in n e a p o lis
hansas C it y
D a lla s
S an F r a n c is c o
T o ta l
Federal
Re serve
Bank o fSoston
New York
P h ilad elp hia
Cleveland
Richmond
A tlan ta
Chicago
St,L ou is
Minneapolis
Kansas C ity
D allas
San Francisco
Total
B a la n c e
la s t
Gold
G o ld
s ta te m e n t
D ecem ber
w it h d r a w a ls
xnd
lo ,
.15.1:5b.___
25 ,845, 407.73
31,^33, 321.73
3,1,5,37, 025.62
54,34b, 662.15
35,530, 264.03
25 .622,035ol
33 ,5 ^6 ,502.33
13 ,461 ,1o4»25
7 .UU2 ,506.71
1 7 ,3 7 1 ,525.51
15 ,652 ,755-14
SlxblS,.113. ].4
332,653, 503.10
Withdrawals.
D e p o s it s .
to
tra n s fe rs
Agent fs
Fund.
22 ,000.00
10 ,000,000.00
1,407,530.00
6 , 400.00
4 . 500. 000.00
15,000.00
265,600.00
3,100.00
125,000.00
1 .000.000.00
134, 300.00
1 .000'000.00
3, 453 , 300.00
1 ,^00 .000.00
13 , 540 , 030.00
5 ,000,000.00
20,022,000.00.
6.500.000.00
6, 4oo.oo
5.000.000.00
15,000.00
3.265.600.00
2 .000.000 00
2.134.100.00
12 ,000,000.00
106 ,2 7 5 ,032.62
7 ,627 ,3 2 2 .7 6
1 1 3 ,906 ,355-33
A g g re g a te
d e p o s it s and
D e b it s
A g e n t’ s
Fund,
5 4 .0 0 0 ,
10 ,000,000.00
1,407,530.00
4.500.000.00
3,100.00
125,000.00
5.000.000.00
11,193.000,00
Balance in
Fniid at close
of business
Total
Net
December 2U,
Total
Credits
Deb its
C red its
ISIS ■
13 6 ,03 ",330.03
10 7 ,1 7 2 ,136-55
2 3 ,9 1 3 ,743.45
30,010,lg7.775 5 ,390 ,636.49
454s472(37Wll ; 343 ,1 5 1 ,3^1.4 5
12 5 ,3 5 4 ,560.71 ,
2lk,36l,540.62
137,522,733-47
100,053,271.44
125,033,661.13
36,215,643.13
24,530,335.65
1 3 6 ,503 ,776 .50
5,114,657-39
131,354,075.01
25>155,052.17
43.105,553.26
1 0 ,750 ,150.33
23,357,655-01
53,360,143.55
132,127,030.34
155,3U6 ,002.07
1 3 ,2 1 3 ,921.23
7 3 ,435 ,3 12 .5 5
107,35$, 335-20
110,315,565.60
3,416,634.40
16,771,513.33
3 ,702 ,320 .6s
1 6 7 ,734.44
25,143,515.45
25,3l6>653.53
80 ,2 7 1 ,766.0 7
35,042,571.60
4 ,7 7 0 ,305-5 3 . 20 ,805 ,323.93
46,312,114.03
1 2 ,739 ,318.03
53,935,663.74
7,177,549.66
13,400.174.20
15,156.133.72
12,725.547.55
43.121,716.67
364,S93,6S3.10
1 ,452.205 ,36 6.51 1,452,209,366.51 113,906,855.3S
M. .
TRANSFERS
tra n s fe rs
fro m
5 5 ,5 5 3 ,3 0 0
Settlem ents from December 13 , 19 19 .-to December 24,19X9
both in clu siv e .
Net
D ebits
X -1 7 0 0
( C O IIF ID E N T IA L )
oou-00
6,150, 732.25
437,06
4 5 . 000, 000.00
20, 200, 000.00
1 2 ,100,000.00
15,
2 3 ,^ 0 0 ,
000.00
7 ,000 ,000.00
2 ,000,000.00
35. 000 000.00
2^,'oco!000.00
14,963
-iMi Q
C.t
CL-t-e.
j?
O. '3.54
C r e d it s
30,243 ,036.50
150,263 ,625.63
22,771 ,320.32
273 ,6l6.34
l66 ,450.25
,315.37
,005.03
j , Obb,0
1,155 ,654.73
51 ,735.53
13,163 ,052.45
12,143 ,273*23
9 ,±5b 25b. 57.
244,633,353.54
S u g a ry of changes in owner
ship of gold by banks through
tra n sfe rs ana settlem ents.
Decrease
5 7 5 ,439.00
Increase
5,16 1 ,773*5-5
37 ,838,814.76
1 5 ,740 ,593.97
14,513,311.86
1 ,227 ,450.30
lo,ei2 ,iS5 -74
2 /423,670.37
1 ,740,526.03
2,933,353.02
4 ,679,177.06
55,518,343.83
9.581,856.06
55,518,348.83
F E D E R A L R E S E R V E AGENTS.' F U N D
X-lJib a
Surrjrary of transactions for week ending Deceriber 24, 1919-_________________________________ _____ __COl^IDEKTLAL— ---Federal
Reserve
Agent
at
: Balance last
: stateirent
: Decerriber 18,
:
1919
Gold
:
Withdrawals :
Total
: Withdrawals
Total
Deposits
: Balance at
close of
: business
:Dec. 24,1919
: 5=010,000
: .
5 ,000,000
: 59 ,000,000
Gold
Deposits
: Withdrawals
:
for
: transfers
to bank
:
:
:
:
Deposits
through
transfers
from bank
Boston
5*+,000,000
:
—
;
—
:
New York
90 ,000,000
:
—
:
—
:
—
: 20 ,000,000
:
20 ,000,000
:110 ,000,000
Philadelphia
64 ,389,260
:
—
:
•
-
: 6 ,500,000
:
6 ,500,000
*
• 7 1 ,389,260
Cleveland
7 0 ,000,000
:
—
:
—
Richmond
40,000,000
:
—
:
—
Atlanta
55 ,000,000
: 2 ,000,000
:
—
: —
: 5 ,000,000
Chicago
243 , 144,500
: 2 ,000,000
:
—
: —
:
3 ,000,000
: 8 ,000*000
• 3 ,000,000
8 ,000,000
3 ,oco,ooo
: 58,930,600
:
• 2 ,000,000
:
2 ,000.000
2,000,000
: 19,800,000
:
:
2,000,000
> 36,360,000
:
: 2 ,000,000
:
2,000,000
: 14,484,000
: 1 1 ,6^8,000
: 9 ,000,000
: 1 1 ,698,000
9 ,000,000
:111,200 ,00,
0..
: 19 , 698,000
: 52 ,500,000
: 2 5 ,698,000
54 , 500,000
St.Louis
63, 93o , 6oo
:
—
:
Minneapolis
19 , 800,000
: 2 ,000,000
:
Krnsas City
34 , 360,000
:
Dallas
12,484,000
:
Ban 'Kcsncisco
113,898,000
Total
861,506,360
—
2 ,000,000
—
: 6,000,000
:
--
: 2 ,000,000
:
—
—
:
—
.
:
~
:
:
2 ,000,000
—
: 70 ,000,000
—
: 40,000,000
5 ,000,000
—
: 58 , 000,000
:241,144,500
•890,308,360
30NFIDEN1IAL
Not for publication
Discounted or
purchased by
F.R- bank of
Chicago
Minneapolis
Chicago
Chicago
San Francisco
Chicago
Chicago
Chicago
Minneapolis
Chicago
Chicago
San Francisco
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
St. Lcuis
Cleveland
Chicago
Chicago
New York
San Francisco
TOTAL
Date
Oct.
REDISCOUNTS AND SALES OF DISCOUNTED AND PURCHASED PAPER BETWEEN FEDERAL
RESERVE BANES.
St. 699
DURING THE CALENDAR YEAR 1919REVISED
________ Chronological Table - October, 1919REDISCOUNTED OR SOLD BY FEDERAL RESERVE BANK OF
NEW YORK
IPHILADELPHIA I RICIHOIiD
ATLANTA
MINNEAPOLIS
DALLAS
CHICAGO
Pur. Bills
Disct'd.Bills[Disct1d.Bills Disct1d-Bills Pur.Bills
Pur. Bills Disct'd.3ills
1
$4,000,000
5 , 000,000
3
3
$3 ,000,000
1+
6
$3,176,075
7
9
6 . 000.000
3 , 500,000
11
13
14
15
15
3 . 000.000
20
21
22
1 ,000,000
10 ,000,000
5 , 000,000
5 , 000,000
2 , 500,000
2 , 500,000
3 . 500.000
4 .500.000
17
is
5 , 000,000
1 , 500,000
2 , 500,000
3 . 000.000
4.000.000
4.000.000
1 , 500,000
3 . 000.000
2 .000.000
5 . 000.000
8 .000.000
20 , 032,021
5,014,052
10,042,517
1 ,000,000
4 ,000,000
4,000,000
2 , 500,000
1 , 500,000
5,052.618
46.474,325
FEDERAL RESERVE BOARD •
DIVISION OF REPORTS AND STATISTICS
DECEMBER 24, I919.
5 ,000,000
5 ,000,000
3.177,042
16
23
27
28
29
29
29
30
31
31
^ 2__
^ 1 ,000,000
2 ,000,000
2 , 500,000
48,000.000
25,000,000
19.500.000
24,083
$ 9,824
24,083
9,824
34 .000,000
CONF IDENT IAL
Not for publication
Discounted or
purchased by
F.R. bank of BOSTON
•St. 69s'
REDISCOUNTS AND SALES OF DISCOUNTED AND PURCHASED PAPER BETWEEN FEDERAL RESEriVE BANKS
R
E
V
I
SED
•DURING THE CALENDAR YEAR 1919Monthly Surrmary - October, 1919*
(In thousands c-f dollars; i.e., OOO omitted.)-SINCE JANUARY 1, 1919
TOTAL
Rediscounted by Federal Reserve bank of
PUR.
DISCED.
FOR
| SAN
KANSAS
ST.
NEW
BILLS
BILLS
TOTAL
PKILA. CLEVEL- RICHM- ATLANTA CHICAGO LOUIS MINN. CITY DALLAS !FRAN. MONTH
YORK
Boston
^24-
New York
a10
3U
55.312 15,312
4-c.ooo
10,04-3
269,295 4o,27S
229,017
Philadelphia
Cleveland
al0 ,0^3
Richmond
Atlanta
Chicago
St. Louis
-
c i 5,000 :19 .500
a20,032 C4S,000
136,532 1,269,502
|C3U,000
5 >oiU
a5,Ol4
10,000
■'10,000
Minneapolis
Kansas City
4-5,16s 1,224-,33*+
141,794- io,os5
131,709
19,222
422.613
4-0,093 35>-°93
5,00c
447,595
Dallas
San Francisco
TOTAL
25,000
46,475 Us,000
Since Jan. 1,
6o ,3S2 lb7 .642 629.017
Total
4-0,34-3]24-7,642
Fur- bills
20'04^i
- I629.017
Disced, bills
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEL\BEE L'4: J919
11,326
hi, 326
19,500
232,94-6 21,690]
2k
12 U
124
-
1232,94-6 81.6901
10
34-,000
72 30,000 4-04,975
72
30,000 ^,975!
122,969 122,969
173.009
-
2,346,260
222 ,12 ?
-
(a) Acceptances purchased in open market.
(c) Ifember banks1 collateral notes secured by Government war obligations.
i2jL.Qi.S_,673 .
.■REDISCOUNTS AND SALES OF DISCOUNTED AND PURCHASED PAPER
BETWEEN FEDERAL RESERVE BANKS v
DURING THE CALENDAR YEAR 1919*
St. 735
Chronological Table - November, 1919*
C O N F I D E N T I A L
Net for publication
Discounted, or
purchased by
F.R. bank of
Cleveland
S t. Louis
Chicago
ti
n
Date
Nov.
3
3
3
1+
10
ii
ii
12
13
13
14
ii
S t. Louis
D allas
Chicage
«
Richmond
S t. Louis
D allas
Chicago
Kansas C ity
Chicago
S t. Louis
TOTAL
$1 5 ,022,249
101056,322
25 ,002,073
$10,164,346
10 ,021 ,0U0
5,012,134
U,000,000
3 . 000.000
5 . 000.000
5.045,296
5.079.273
5.036,679
5.065,649
2 , 500,000
10 , 005,496
5 , 000,000
U.000.000
40,473,423
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER 24, 1919
1 . 500.000
5 . 000.000
4 . 500.000
IT
17
19
20
*1
22
24
2b
2b
2b
26
26
28
22
$1 ,000,000
$10, 000,000
10 , 000,000
2 . 500.000
6
ti
S t. Louis
Chicago
EOSSGST
Pur* B il ls
REDISCOUNTED OR SOLD BY FEDERAL
RESERVE BANK OF______
ATLANTA
PHILADELPHIA
NEW YORK
D
is
c t'd B il l s
D
is
c
t
•d
B
i
l
l
s
Pur- B i l l s
65,092,334
57, 000,000
1 ,000,000
C O N F I D E N T I A L
Not for publication
Discounted or
purchased by
F.R. bank of BOSTON
Boston
REDISCOUNTS AND SALES OF DISCOUNTED AND PURCHASED PAPER BETWEEN FEDERAL RESERVE BANKS
DURING THE CALENDAR YEAR 1919st-797
Monthly Summary - November, 1519 i., uuu cmT/tea. j
KLn tnousanas 01 aoiiax
SINCE JANUARY ]L, 1919
TOTAL
Rediscounted by Federal Reserve Baai cj
DISCTD.
PUR.
FOR
SAN
KANSAS
ST.
NEW
BILLS
bills
TOTAL
YORK
PHILA. CLEVEL. richm * ATLANTA CHICAGO LOUIS MINN. CITY DALLAS FRAN* MONTH
#
- ‘-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,022
284,317
55,300
-
-
-
-
*-
-
-
5,020
5,080
5,080
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
■-
-
-
-
Philadelphia
-
-
-
-
-
-
Cleveland
-
-
-
-
-
Richmond
a5 ,oso
-
-
-
-
Atlanta
-
-
-
-
|
-
° 1,000
1
Chicago
a15,210 a2 5,002 c4g,500
-
St* Louis
ai5 ,ns ai0,056
cs ,500
-
-
-
-
-
-
-
-
! -
-
-
-
Minneapolis
-
-
-
-
-
-
Kansas City
-
aio,oo6 !
--
-
-
-
-
-
-
-
-
_
—„
1,000
-
Dallas
a5>o65 a5,012
San«
*
>Francisco
•**XJ<iAV-*» w
TOTAL
4o,473
65 ,09s
57,ooo
Since Jan.l,
100,861 312.740 746.017
Total
go,si6 312.740
Pur- bills
746.017
Disctd- bills ■20,045
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER 24, igi5
-
232 ,9^6
Uo,ooo
-
-
a15,022
55,312 15,312
-
New York
32.690
12 U
124
232,9^6 22.690
-
72
! -
33>67^
-
-
-
-
-
- . •10,006
-
-
-
—
-
-
-
-
30,000 404.975
-
229,017
29,712 1,359,214 85,320 1 ,273,834
-
-
-
-
10,077
-
175,468 35,259
140,209
•447,895
19,282
428,613
50,099
45,099
5,000
10,077 10,077
-
122 ,363.122,969
-
163,571
2 ,510,431
393.752
72
30,000 404.975
(a) Acceptances purchased in open market.
(c) Member banks' collateral notes secured by Government war obligations.
2,116,673
C O N F I D E N T I A L
C U R R E N C Y R E C E IV E D FR O M A N D D E L I V E R E D O R S H IP P E D
Not for publication
(In
NEW Y O R K
BO STO N
D e liv e re d
1D e l i v -
f
o r’R e ^d
s h ip p e d *
to
fro m
* e re d
1
o r ! R e crd
f s h ip p e d 1 fr o m
*
1
\
T
to
T O M EM B E R A N D N O N -M E M B E R B A N K S D U R IN G - T H E
1
1
i.e*,
1 P H IL A D E L P H IA
’ D e liv - 1
! e re d o r ! R e c! d
S h ip p e d 1 fro m
1
to
1
t
S t . SOO
19 19 .
M O N TH O F N O V E M B E R ,
th o u s a n d s o f d o l l a r s ;
OOO o m i t t e d - )
*
1D e l i v - 1
1e r e d o r ^ e c M
C H IC A G O
P JC H M O N D
CLEVELAN D
*D e l i v - i
1e r e d o ^ R e ^ d
1D e l i v *e r e d
1
o r 1R e c 1d
1D e l i v
e re d
or
Rec*d
fro m
S h ip p e d 1 fro m
S h ip p e d 1 fro m
S h ip p e d 1 fro m
1s h ip p e d
1
1
1
T
1
t
to
to
1
to
1
to
*
26,298
33,352'
19 ,809* lo,114*139 ,005' 89,771' 22,644' 18,221* 5.S391 5,533’ 3,5S9T 2,389’ 3,323’ 3 ,750 '
*
1
1
1
1
»
r
t
1
B anks in F e d e ra l R e s e rv e b ra n c h
1 7 ,SSI
5,874* 6,079’ I2';l4i’ 8 ,581 * 13,073'
5 ,7 17 ' 4 ,549*
-!16 ,575 ’ 15.405
c it ie s - - - - - - - - - - - j
t
I
1
'
1
t
I
I
!
1
1
*
B an ks o u t s id e F e d e r a l R e s e rv e
1 9 ,269' 20 ,617 ' 26 ,182 ' 32,819' 14,66s1 1 1 ,544 *1 3 ,228' 6,942' 8 ,225 ' 3.S83' 4,6lS'. 5,292* 16,447* ....1 1 .,271
and R e s e rv e b ra n c h c it ie s - 1
T
t
I
I
I
I
*
56,150
39, 072' 36 , 731 *170 , 904' 12 7 , 139 * 43 , 312 ' 30 , 065* 36 , 242 ' 2 7 , 880* 1 7 , 688' 12,351’ 20 , 022' 1 7 , 623' 62,872
Total------- ----------571,399
Total since January 1 , 1918 - ~ 340, 787 ' 450, 760' 1603529*14751 47*339 , 691 ’ 400, 710 *306, 2251343, 563*15 5 , 815 ’' 1 5 1 , 674' 153 , 026*190 ,710 .533,2o3
Banks
in
F e d e ra l
R e s e rv e
C it ie s
M IN N E A P O L IS
L O U IS
D e liv - 1
e re d o r 1
s h ip p e d T
to
1
Banks
in
Banks in
c it ie s
Banks
F e d e ra l
R e s e rv e
1D e l i v - 1
1e r e d o r 1 R e c M
1s h i p p e d 1 f r o m
1
1 3 ,109’ 14,953'
C it ie s
F e d e ra l R e s e rv e b ra n c h
- - - - - - - - - - - -
o u ts id e
RecM
fro m
12,303'
7,179’
F e d e ra l R e s e rv e
b ra n c h
c it ie s -
-
-
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER 2k, 1919.
C AN S AS
D ALLAS
C IT Y
*D e l i v - 1
1 e r e d o r* R e c * d
1s h i p p e d 1 f r o m
to
1
i
!
t
2 ,610 * 1,941' 3.633'
1
t
1
to
4,129’ 2 ,523': 3,339’
t
Total - - - - - - - - - -- - 29,541' 24,655' 5 , 949*
Total since January 1, 1919 ~ ~ I76,9l3r255,997’ 45,142*
and R e s e rv e
f
* D e liv ?e re d o r
1s h ip p e d
*
to
R e c Td
fro m
1 S A N F R A N C IS C O
1T O T A L F O R M O N T H 1T O T A L S I N C E
1D e l i v - 1
1e r e d o r 1 R e c M
1s h i p p e d 1 f r o m
1
to
1
1D e l i v - 1
1___
19!9~._
! e r e d o r 1 R e c ! d *D e l i v e r e d 1R e c e i v e d
S h ip p e d 1 fro m
*o r s h i j j e d 1
fro m
to
1_____________
1
to
T___________ 1
JA N .
1,
794 * 13,990* S,5S9,269,130'193-S34*2,433 ,230*2 ,303 ,309
2,227
t
i
i
'
»
*
I
1 , 781 * 6 ,iso* 4 , 602' 76 , 274 * 68 , 430' 571 , 906'' 719,251
2 , 65s ’ 2,3735 1,753
f
i
l
l
*
»
t
9 ,678* 2,427’136,518*105,593' 996,257’1.254,612 2,317’ 6,644* 2,416* 9,491 2,542*
1
?
1
I
*
I
r
«
I
5 , 1 1 7 ' 29 ,s 4s* 1 5 , 618 '481,922'367,357'
4 , 25s* 12,935’ 10 , 270 * 13,471
-*
-'4,001,393*4,277,172
53,232' S9.4751 118 , 637 ' 82,502 65 , 070*185 , 025*200, 273 *
5 ,4 6 1 '
STATEMENT FOR THE PRESS.
Released for publication
Sunday morning, December 28, 1919;
not earlier.
St.S03
d a
Federal Beserve Board,
December 27, 1919
FEDERAL RESERVE BALING IN 1919*
During the calendar year 1919 activities of the Federal Reserve banks continued in
undiminished scope and volume. Cessation of actual hostilities did not end the war
work of the banks, and loan operations for the Government in close harmony with the
Treasury, involving the flotation of the last popular war loan and the placing of the
several issues of loan and tax certificates, continued to be one of thfe leading, if
not the leading function of the Reserve banks. This task involved collection, con
centration and disbursement oil government account of 15,659 million dollars, of which
4,U91.5 millions represents the total of the Victory Loan allotted; 6,75^*^ millions the combined amounts of eight series of Certificates issued during the year in antici
pation of the Victory Loan and of four series of the so-called loan certificates; and
4,413.6 millions - the total of eleven series of certificates issued in anticipation
of income and excess profits taxes due in 1919 and 1920 .
The success of these issues was due in part to the accommodation accorded to mem
ber banks through the discount at preferential rates of so-called war paper, i.e.,
member banks' own notes and customers' paper secured by United States war bonds and
Certificates. Reported holdings of war paper which totaled slightly over 1,400
millions at the close of 1918 and reached a maximum of 1,863*5 on
a^ou^ ^e
time of the consummation of the Victory loan, when war paper constituted 91*^ Per cen^
of the total discounts held by the Federal Reserve banks, gradually declined to
1,383.9 millions, or 84.1 per cent of the total discounts held by these banks on Sep
tember 19 . Between that date and the middle of November these totals followed an
upward course. Since then, as the result of rate revision, the amount of war paper
has gone down to 1 ,510.4 millions or 68.8 per cent of the total discounts held on
December 26 . Of this total* 732*4 millions, or 48.5 .per cent, were secured by Liberty
bonds, 337.7 millions, or 22.3 per cent,- by Victory notes and 440*3 millions, or 29-2
per cent,by Treasury certificates. Other discount^ which aggregated 302«5 millions
at the close of 1918 , continued at a comparatively low level during the greater part
of the year. It was only at about the close of September that the discounts of
ordinary commercial paper began to show material increases. On Decsmbdr 26 holdings
of this class of paper aggregated 6s4.5 millions, and constituted
per cent of
the Reserve banks' total holdings of discounted bills, as against less than 18 per
cent the year before. Acceptances on hand, which totaled 303*7 millions on December
27 » 191 S| moved within moderate limits during the first part of the present year;
about the end of June the total for the first time in the year was in excess of 300
millions. During the last two months of the year, however, the accumulation of
acceptances in the portfolios of the Reserve banks proceeded at a rapid pace, the
total held on the last Friday of the present year, 585*2 millions, being over 21
per cent of the total bills held by the Reserve banks, compared with 15 per cent the
year before.
During the year the Banks' holdings of U.S. bonds show a reduction from 28 . 9 to
26.8 millions, the present holdings comprising largely circulation bonds and 3 P0r
cent conversion bonds and,, only to a very small extent, Liberty bonds. An irjcrease^
since January 3 of 14S.4 millions in Treasury certificate holdings represents
additional investments of the Banks in 1-year 2 per cent certificates to secure
bank note circulation. Total earning assets increased during the year from 2 , 318.2
to 3 , 080.5 millions, or nearly 33 Per cent.
the
During the earlier part of the year while/gold embargo was still in force, and
between August and November, the banks' gold reserves were increased through net
imports of gold and through the acquisition of German gold and its transfer to
London. These gains were practically offset, however, by the amount of gold
withdrawn for foreign shipments, largely to Spain, Argentina and the -tar East,
with the result that gold reserves at the close of the present year, 2,078.4 mil
lions, are 11*9 millions less than a year ago. Total cash reserves show a similar
decline from 2,146.2 to 2,135*5 millions.
As against moderate changes in the banks* reserve holdings, their net depos
its, because of the increase in membership and in consequence of the general credit
expansion, show an increase during the year from 1 ,552*3 to 1 ,70 -1 .5 millions. Fed
eral Beserve note circulation on the last Friday in 1912 totaled 2,6S5*2 millions.
During the early part of the px-esent year there was considerable contraction of the
note circulation, followed by moderate expansion up to the close of September, when
it reached a total of 2,655*3 millions. Since then the volume of -circulating notes
has increased by over 400 millions, or at an average weekly rate of over 30 millions.
In addition there has been an increase during the year of 1^3>9 millions of Federal
Resef$g/notes in circulation, issued largely to take the place of silver dollars
melted and silver certificates withdrawn from circulation under the Pittman Act.
Some indication of the growth of the system is afforded by the comparative
figures of paid-in capital, which show an increase during the year from SO.7 to
about 87-3 millions, or 6.6 millions, corresponding to an increase in the aggregate
capital and surplus of member banks of 221.9 millions, as the result of accession
of fiew members and increase in the capitalization of existing member banks.
The
largest relative gains in paid-in capital are shown for the San Francisco, Chicago
and Kansas City banks, while the largest increases in the number of banks admitted
to membership during the year are reported for the San Francisco, Chicago and Cleve
land districts.
Bel eased for publication Sunday morning, December 22, 1919 not earlier*
RESERVE BANKS AT CLOSE OF BUSINESS DECEMBER 2 b.
STATEMENT OF COMBINED RESOURCES AjD LIABILITIES Oj THE TWELVE FEDERAL
December 191 1919
December 26, 1919
$2417325,000
r e s o u r c e s
$229,4*57000
399.935.ooo
Gold coin and certificates
352,785)00°
Gold settlement fund - F.R. Board
1^7,717.000
lj4^20,000
7 7 8 ,9 7 7 ,0 0 0
Gold with foreign agencies
716 ,55° ' 000
1 ,2 0 1 ,6 5 4 ,0 0 0
Total gold held by banks
1 ,240,032,000
Gold with Federal Reserve Agents
__ 1 1 5 .1 8 2 , 0 0 0
121.850.000
$2,095,813,000
Gold redemption fund
$2 , 078, 432,000
59.098>000
Total gold reserves
5 7 ,1 0 4 ,0 0 0
2,154,911,000
Legal tender notes, silver, etc.
2,135.536,000
1,414,950.000
Total reserves
1,510,364,000
j. j (SecTired by Government war obligations
580,162,000
Bills discount (A11-otSer
634.514.000
: 566.266;000
585.212.000
2 .561 .372.000
Bills bought in open market
!,780,090,000
26.846.000
Total bills on hand
26,234,000
54.000
U. 3. Government bonds
64,000
303,
552,000
TJ- S« Victory notes
273,507,000
U- S. Certificates of indebtedness
2 ,2917236 ,
.000
All other earning assets
3 , ObO, '+35 »000
1
2
.
926.000
Total earning assets
1 3 . 002.000
1.140.224.000
Bank: premises
,
1 . 075. 100.000
Uncollected items and other deductions from gross deposits
13,3^3,000
13.237.000
5^ Redemption f'md against F.R- bank notes
1 1 .314.000
__ 8 .062,000
6,224,b04,000
All other resources
6.325.432.000
TOTAL RESOURCES
l i a b i l i t i e s
87.049.000
8T.339.ooo
8 1 .087.000
Capital paid-in
81.087.000
64,459,000
Surplus
72.357.000
Government deposits
1,733.013,000
1,786:874,000
Due to membersReserve account
848.607.000
822,680,000
Deferred availability items
105.069.000
97.659.000
Other deposits, including foreign government credits
2.751.148.000
2.779.570.000
2.988.894.000
Total gross deposits
3.057.646.000
259.975.ooo
F.R. notes in actual circulation
261',039,000
F-R- bank notes in circulation - net liability
56 .451,000
58,751,000
6 .224 .604 .000
All other liabilities
6,325.*32.000
TOTAL LIABILITIES
#
Ratio of total reserves to net deposit and i»K. note
46.8$
44.8$ *Includes 1 -year
liabilities combined
_
Treasury notes.
Ratio of gold reserves to F.R- notes in circulation
5 3 .2/0
50-3$
after setting aside 35 $ against net deposit liabilities
St.SOjJa
1919$331, i s: ,oco
374:758 ,,000
5.829 ■000
717..932,.000
1,288; 309 ,,000
84..01V.000
2-,090 ,.274,,000 .
55 945;,000
■
1.400.371.000
302.567.000
303,673 >P_00
2,006 .*6X1"OOO
28,869,000
*282,677 ..000
_____ 13,000
2 .318 .170.000
759 .60.
3.000
5,988,000
22-005:000
5,251,990,0G0
80, 621.000
1,134.000
6 3 ,367.000
1.527, 318.000
554. 823,000
io6. -■92,000
2,312, 500.000
2 ,685 ,244.000
117, 122.000
309,000
5,251,990,000
50 .6$
59-7$
St.803b
Released for publication Sunday morning, December 28, 1 9 1 9 not earlier.
RESOURCES Aim LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSI2JESS DECEffiEK 26 , I919.
RESOURCES
(In thousands of dollars. )
Total
Atlanta
Chicago
St.Louis Minn. Kans.Cy Dallas San Fran.
Boston New York Phila- Clevel. Richm.
Federal Reserve Bank of
6,617 i o , 4o6 229,41+5
16s
8,261
2,738
1,18 2 10,220
2 ,40g 8,350 24,o6o
7,gV* 1^7,197
Gold coin and certificates
14,772
36,286
352,785
27.192
1,338
68,
856
13
,
37
*
+
41,560 2 8 ,3 ^ 33.966 25,152 25 . 73*+
Gold Settlement Fund - F.R.Board 36,211
3,492
6,179
134,320
6,447
3
,
i
2
L
6,311
1+9,296 10.746 11,0146,582 4 , 835, . 1 5 >981
Gold with foreign agencies
_M95_
24
-,
881
52,871
716
, 55c)
13,226
33,807
22,425
53,860
238,053 40,272 55,200 34,136 33,919 108,900
Total gold held by banks
27,878
130
,
1
+
4
7
1
,
240,032
39,858
65,920
35.570
73.782
307 .385 82,491 125 , 04s 4-1,036 64,734 245,883
Gold with F. R. Agents
^.422
8 , 304- 121.850
5.922. 2,371- 4,023
1,005 6,371 7,053_17 ,..512----25,000 15,578
Gold redemption fund
25.?gl
56,181
131,622
2,078,432
77,688
51.173
jLTc.ouy
- 38,3^1 181,253 81,543 110,706 372,355 94,267
Total gold reserves
1,166
381
+
57, 101+
343
3,238
1+5,602
539
533
188
97Q___ 1 >822--2 t240. ___ 22.
Legal tender notes,silver, etc.
78,031
57.3^7
192,006
2,135,536
5 1 , 21+5
156,103
616,040 138,880 181,786 81,731 111,676 37*+, IS 1* 96,50?
Total reserves
Bills discounted:
Secured by Government war
138,206
58U,588 178,61+8 120,536 87,901 61,379 l46,sUo 44,142 22,465 36,897 4-2,63I+ 46,128 1,510,361+
obligations (a)
681+,53.I1.
26,065
50,536 11,427
56,630
203,606 29,492 1+7,01+1 20,760 28,843 128,429 3^.093 47,592
All other
585,212
. 96,107
iMi.vLiH
..OMO 56,923
TO.^ 1 l6,031 16 .231 108,352 36,936_„l 4 >401 19,981
.,.=-----7_, 734
---------------------------191.312
*+,698
Bills bought in open market (b) 16,506
979
506
212
838
2
^
500
iaH
692
io
fi.U
g
383
6
a
115.171
sit.45s
107,W
61
,795
l
b
s
.
g
o
a.7S0,090
211,342
Total bills on hand
3 ,1,257
0
■- 1,235
- -- 375
k ,k j6
1,153
116
8,867
3,966
2,632
2 6 ,S jk
833
1,385
539
U.S. Government bonds
h.
_
6410
50
U.S. Victory notes
273,507
Ol*’)L+t
LJJL---- <7
U.S.certificates of indebtedness cLJLjDux
3
,
080,435
7
M
5
1
182,370
131.530
33,054
233, 5^ l , o 4s , l 6o 21+4,752 250,160 138,187 122,4-98 427,851 133,5^0
Total earning assets
399
4
oo
13.002
1+62
600
3,991+
500
895
519
515
2,936
691
1,091
Bank premises
Uncollected items and other de
62,236 1+7,758 1,075.100
81,682
235.OS9 86,294 91, 23^ 90,283 50,072 139, 83^ 70,669 29,285 90, 664ductions from gross deposits
5^ Redemption fund against F.R.
560
13,237
665
428
958
647
2,116
41+3
798
1,072
2,929
1 , 4-75 1 , 14-6
bank notes
424
8,062
261
1+81
ll+l
.157
3.16
3I+1+ . 1.506.
1.785
1,061
1,306
280
All other resources
,
TOTAL RESOURCES
^73,770 1,907,518 472,362 525,565 312,669 285,700 9^8,706 302,370 174-,769 302,126 195»651+ 423,623 6,325,1+32
(a) Includes bills discounted
for other F.R.Banks,viz:
(b) Includes bankers' acceptances
bought from other F. R.
banks:
With their endorsement
Without their endorsement
14-, 670
5,080
12,265
5,065
25,307
20,113
1+0 ,6 15
25.9^5
19,301
9.721
9,805
5,065
1,113
10,081
5 ,is u
69,899
58,201
st.803c
Released, for publication Sunday morning, December 22, 1919i n°t earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS DECEMBER 26, 1919*
(In thousands of dollars.)
LIABILITIES
Total
Richm. Atlanta Chicago St.Lou Minn. Kans*Cy, D&llas San Fran.
Clevel.
New
York
Phila.
Bostoh
Federal Reserve Bank of
5,748
4,012 3,^17
3,424 12,347
4,063 3,074
27,339
Capital paid-in
7,224 9,482 4,392
22,388
7*108
2
,
029
81,027
2,320
4
,57s
3
,goo
2,205
3,710
2,529
3.957
5,260
Surplus
5,206
32,922
5-311
7,667
2,721
5.377
8,319
5,105
1,646
3,872
6,959
72,357
12,641 2,966
6,746
Government deposits
2,338
61,081 253,864 67,092 51,532 77,723 58,423 116,357 1,786,874
706,254 95,505 127,627 61,081
Dae to members - Reserve account 110,335
822,680
36,129 103,130 55,155 15,459 72,441 37,607 25,467
188,383 80,832 70,420 68,364
Deferred availability items
63,293
Other deposits including foreign
_.._2 ,.q£6-___ §+££5 -97,659
2 .6 8 i__LP-jri6__ 3-^SS- 2*?,2l6_
8,28842.685 6,832 .6JL4L 3.610
government credits
190,254
Total gross deposits
824,944 240,273 272,884 148,693 156,599 510,018 148,452 87,475 105,100 74,886 241,867 3 ,0 5 7 ,64b
F,R. notes in actual circulation 246,455
F.R.bank notes in circulation 261,039
8,157 19 , 5^6 10,41
net liability
54,624 29,028 22,197 12,051 15,663 41,109 15,610
11,895
20,744
-1^-15— 2-r743-- IM. -JVI79- -5S051
All other liabilities
??,fi 77
4,331 ___ 4^202— 2,359— 2-,2x 5.— 6 ^ 4 6 —
.4 ..0-C.3TOTAL LIABILITIES
473,770 1 , 907, 51s 472,962 525,565 312,669 285,700 948,706 302,370 174,769 302,126 195,654 423,623 6, 325,432
Contingent liability as endorser
on Discounted bills rediscounted
with other F.R. banks
Bankers’ acceptances sold to
other F. R. banks
27,615
-
-
-
-
-
13,000
-
-
40,615
69,899
69,299
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION
F. R. notes outstanding
F. R. notes held by bank
253,669
F.R.notes in actual circulation 246,455
929,663 249,438 284,335 155,232 162,809 533,73^ 167,515 28,916 111,00 5 77,977 277,801 3 ,292 ,09s
' 11.4 51
6.539
6 T2-10 23,720 1 Q.Q63__ ------ 5^905— 3.,.
091 . 35 ^ — ZJkJi&L.
824,944 240,273 272,884 148,693 156,599 510, 01s l 4s ,452
87,475 105,100
74,886 241,867 3 , 057,646
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES.
Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days
Over 90 days
Total
Bills discowited
Bills bought in open rnarket
U* S. certificates of indebtedness
1,424,790
123,727
15,7^5
244,890
100,060
4,865
292,715
209, 27s
3,9^
152,125
152,147
10,715
20,352
238,242
2,194,878
525,212
273 , 507
St.©03d
,.
.
Released for publication Sunday morning, December 22, 1919; n0^ earlxer.
FEDERAL EESEL1VE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS DECEMBER 26, 1919(In thousands of dollars»)
Boston New York Phila. Clevel.
Kioto. Alianta Chicago St.Louis Elm. ®r.s.Cy.
IMlas San Fran.
Total,|
jf
FEDERAL RESERVE NOTES:
^Y5 >98.0 1,975,560 510,720 474,740 302,900 235,000 226,400 293,600 152,020 202,160 132,720 4o6,300 b,o6o,2so
Received from Comptroller
Returned to Comptroller
Chargeable to F. R. Agent
In hands of F . R. Agent
Issued to F.R. bank less amount
returned to F.R. Agent for
redemption
1 0 1 ,^ 1
QXQ.2Q7 ?4q.cq? U_\.J■cL5_1?.S->
.73Q__91
28.7.,3^2-J.12*085— 5§^.bGk—
224,343 1,035,663 270,773 300,955 174,170 203,254 539,058 1ST,515
30,620
253,663
106,000
21,340
16,620
12,933
40,445
5,320
,Ofij..
S6»4t 6 115.635
20,000
323,663 249,432 22U.335 155,232 162,209 533. 73S 167.515
7.560
4,690
90,347 2 /S 351- 3. .7;-211
12,370
22.916 111,005
1,150
285, 113-;
7/',977 277 , SOx 3 , 232,092
COLLATERAL SECURITY FOR
OUTSTANDING NOTES:
Cold coin and*Certificates on
hand
Gold redemption fund
—
14,722
Gold settlement fund - F.R.Board 53,000
179.227
253, 669
Total
AMOUNT OF ELIGIBLE PAPER DELIVERED
211,342
TO F. R. AGENT
123.740
-
-
13.023
1,036
66,390 80,000
40,000
13.645 16,101
110,000
32,025
-
4,000
13,052
2,73S
2,990
2 ,7 1 s
2 ,U9S
58,000 237.145
52,930
19,200
37,360
2,500
4,234
-
2,231
-
244,i4g
19,247
103,575
l4,4s4 111,200
£92,309
4,563
2.,.C52.,-Q£&.
622.272 166.947 159,2_2X n4.iq6 _-32_,.QZ5-£SL-fi55- 101 ,.53-5--53^ 3^ - 71+147—
000 , Ano
3 , 232
09.8
2
(f,oOX
929,663 249,432 224,335 155,232 162, 203 533.73S 167,515 88,916 111,005 77,97/
159,315 2 , 711 , ^32
977>365 176,867 222,792 120,967 106,172 383,3 70 115 , 09s 69,456 107,359 61,795
STATEMENT FOE THE PRESS.
Beleased for publication
Sunday morning, December 28, 1 9 1 9 ;
not earlier.
St.S03
d
a
Federal Reserve Board,
December 27, 1919
FEDERAL RESERVE BANKING IN 1919*
During the calendar year 1919 activities of the Federal Reserve banks continued in
undiminished scope and volume. Cessation of actual hostilities did not end the war
work of the banks, and loan operations for the Government in close harmony with the
Treasury, involving the flotation of the last popular war loan and the placing of the
several issues of loan and tax certificates, continued to be one of the leading, if
not the leading function of the Reserve banks. This tsi.sk involved collection, con
centration and disbursement oil government account of 151659 million dollars, of which
4.491.5 millions represents the total of the Victory Loan allotted; 6,75^'*^' millions~
the combined amounts of eight series of Certificates issued during the year in anticipation of the Victory Loan and of four series of the so-called loan certificates; and
4.413.6 millions - the total of eleven series of certificates issued in anticipation
of income and excess profits taxes due in 1919 and- 19 2 0 .
The success of these issues was due in part to the accommodation accorded to mem*
ber banks through the discount at preferential rates Of so-called war paper, i.e.,
member banks' own notes and customers' paper secured by United States war bonds and
Certificates. Reported holdings of war paper which totaled slightly over 1,400
millions at the close of 1 9 1 S and reached a maximum of 1 ,S63*5 on
1^, a**out the
time of the consummation of the Victory loan, when war paper constituted 91*^ P®1* cent
of the total discounts held by the Federal Reserve banks, gradually declined to
1,3S3.9 millions, or S4.1 per cent of the total discounts held by these banks on Sep
tember 1 9 * Between that date and the middle of November these totals followed an
upward course. Since then, as the result of rate revision, the amount of war paper
has gone down to 1,510.4 millions, or 6S .8 per cent of the total discounts held on
December 2 6 . Of this total, 732.4 millions, or 4g.5 per cent, were secured by Liberty
bonds, 3 3 7.7 millions, or 22.3 per cent,- by Victory notes and 440-3 millions, or 29.2
per cent,by Treasury certificates. Other discount^ which aggregated 302*5 millions
at the close of 1 9 1 8 , continued at a comparatively low level during the greater part
of the year. It was only at about the close of September that the discounts of
ordinary commercial paper began to show material increases. On December 26 holdings
of this class of paper aggregated 6s4»5 millions, and constituted 31*2 per cent of
the Reserve banks' total holdings of discounted bills, as against less than 18 per
cent the year before. Acceptances on hand, which totaled 303*7 millions on December
27, 191S, moved within moderate limits during the first part of the present year;
about the end of June the total for the first time in the year was in excess of 300
millions. During the last two months of the year, however, the accumulation of
acceptances in the portfolios of the Reserve banks proceeded at a rapid pace, the
total held on the last Friday of the present year, 5S5*2 millions, being over 21
per cent of the total bills held by the Reserve banks, compared with 15 per cent the
year before.
During the year the Banks' holdings of U.S. bonds show a reduction from 28.9 .to
26.8 millions, the present holdings comprising largely circulation bonds and 3 Per
cent conversion bonds and, only to a very small extent, Liberty bonds. An increase
since January 3 of l4S.4 millions in Treasury certificate holdings represents largely
additional investments of the Banks in 1-year 2 per cent certificates to secure F.R.
bank note circulation. Total earning assets increased during the year from 2,312'.2
to 3,080.5 millions, or nearly 33 per cent.
the
During the earlier part of the year while/gold embargo was still in force, and
between August and November, the banks' gold reserves were increased through net
imports of gold and through the acquisition of German gold and its transfer to
London. These gains were practically offset, however, by the amount of gold
withdrawn for foreign shipments, largely to Spain, Argentina and the Far East,
with the result that gold reserves at the close of the present year, 2,078.4 mil
lions, are 11.9 millions less than a year ago. Total cash reserves show a similar
decline from 2,146.2 to 2,135*5 millions.
- 2 -
St. S03I
As against moderate changes in the banks* reserve holdings, their net depos
its, "because of the increase in membership and in consequence of the general credit
expansion, show an increase during the year from 1 ,552*3 to 1,704*5 millions. Fed
eral Reserve note circulation on the last Friday'in 191 S totaled 2 ,6S5»2 millions.
During the early part of the present year there was considerable contraction of the
note circulation, followed by moderate expansion up to the close of September, when
it reached a total of 2 ,655.3 millions. Since then the volume of circulating notes
has increased by over 400 millions, or at an average weekly rate of over 30 millions.
In addition there has been an increase during the year of 1^3•9 millions of Federal
Rese?$f/notes in circulation, issued largely to take the place of silver dollars
melted and silver certificates withdrawn from circulation under the Pittman Act.
Some indication of the growth of the system is afforded by the comparative
figures of paid-in capital, which show an increase during the year from SO.7 to
about S7.3 millions, or 6.6 millions, corresponding to an increase in the aggregate
capital and surplus of member banks of 221»9 millions, as the result o£ accession
of new members and increase in the capitalization of existing member banks.
The
largest relative gains in paid-in capital are shown for the San Francisco, Chicago
and Kansas City banks, while the largest increases in the number of banks admitted
to membership during the year are reported for the San Francisco, Chicago and Cleve
land districts,
St.8C3a
leased for publication Sunday morning, .December 28,:IS 9L ? 0^ m ^ iFEi)EEAL RESERVE BAMS AT CLOSE OF BUSINESS DECEMBER 26, 1919STATW/FFNT OF COMBINED RESOURCES AND LIABILITIES OF TL*. TWELVE F
December 19, 1919
December 27, 1918
RESOURCES
$241,325,000 ^
$337,365,000
Gold coin and certificates
^29, 5>
399.935. 000
374,758,000
Gold settlement tod - P-H- Board
rl^OOO
Gold with foreign agencies
qqq
778,977,000
717,952,000
Total gold held by banks
X n ’o ^ ’ooo
1 ,201 ,654,000
1,288,309,000
-- 84,013,000
G o l d w i t h Federal Reserve Agents
^oi’eicn’ooo
115.182.000
, Gold redenption fund
---- 8—
■
Qjg
000
$2 ,095,813,000
2,090,274,000
Total gold reserves
’ (57*104 '000
59,098,000
55,945,000
Legal tender notes, silver, etc.
qqq
2 ,15 *+,9^*000
2,146,219,000
‘ Total reserves
' t ^ i j n i /
1,414,950,000
1,400,371,000
P
j s - “
Bills bought in open market
“■ £ ; » '
s - i S 'S i
— — -- 1
p -yen 0Q0 000
2 ,561 ,378,000
Total bills on hand
U. S. Government bonds
* gLf.*qqq
5^*000
U. S. Victory notes
?7, ^ 7 ’000
303*558,000
________ _____-____
U. S. Certificates of indebtedness
_ ’
All other earning assets
0g0 14.9c 000
2 ,891 ,836,000
Total earning assets
’ n-r’nop'ooo
12 ,986,000
Bank premises
'
1 075 10q’000
1 ,140,224,900
Uncollected items and other deductions from gross deposits
ix’p ^ ’ooo
13,333.000
5$ Redemption fund against F.R- bank notes
«’rip 000
ll.U4,000
All other resources
6 ^2 ^*4^2*000
6,224,604,000
TOTAL RESOURCES
*
LIABILITIES
q _qq
gyf049,000
Capital paid-in
81 ’
,087,
’000
81,087,000
Surplus
7P tc7 000
64,459,000
Government deposits
»35»
1,733,013,000
Due to members,- Reserve account
’Ipp’filo’ooo
848,607,000
Deferred availability items
cr/Vca'finn
105,069,000
Other deposits, including foreign government credits
.
-- 9 7 , ^ 0 00
--- ------- 2,751,1^8,000
Total gross deposits
x*057*646*000
2,988,89^,000
F.R, notes in actual circulation
?6l’oWoOO
259,975.000
F.R. bank notes in circulation - net liability
^ ’7 5 1 ’000
56.4*51.000
All other liabilities
6 w 4V 000
6 ,224 ,604,000
TOTAL LIABILITIES
.
b,325><±3 ,
_
Ratio of total reserves to net deposit and F.R. note
44.g$ ^Includes 1-year
46*Sfo
liabilities combined
^
Treasiary notes*
Eatio of cold reserves to F.R- notes in circulation
53-2^
after sitting aside 35^ against net deposit liabilities
50-3/
»
2,006,611,000
*222,677,000
_____ 13»000
2,318,170,000
759 .6OS.OOO
5,988,000
22,005,QQQ
5,251,990,000
80,681,COO
cVS-/’nnn
63,367»000
1,587,3*8,000
554,823,000
_106,992,000
2,312,500,000
2,685,244,000
117,122,000
55,309,QQQ
5 ,2 5 1 ,990,000
50-6%
.
53-7*
St.803b
Released for publication Sunday morning, December 22, 1919; not earlier.
RESOURCES A\TD LIABILITIES OF THE FEDERAL RESERVE BASICS AT CLOSE OF BUSINESS DECE/1BER 26, 1919RESOURCES
(In thousands of d o lla r s . )
Total
New
York
P
h
ila
.
C
le
v
e
l.
Richm.
A
tlan
ta
Chicago
St.L ou is iviinn. i^ans.Cy. Dallas San Fran.
Bos ton
Federal Reserve Bank of
6,617 10,*06
229,**5
1 * 7,197
1,182 10,220
2,*0 g 8 , 35° 2*,060
2,732
2,261
168
7,8**
Gold coin and c e r t i f i c a t e s
i*
,7
7
2
36,286
352,785
* 1,560 28 , 3** 33,966 25,152 25 , 73* 68,856 13.37*
1.338 27.192
Gold Settlem ent Fund - F.R.Board 36,211
3, *92
6,179__ 13*i320
1+9.296
10
.
7*6
11,01*
6,522
*.835
15,98*___
6,313—
L
621
--6
,**!
9,805
Gold w ith fo re ig n agencies
___________
716,550
33.807 2 *,SSI 52,871
' Total gold held by hanks
53>860
238,053 1+0,272 55,200 3*,136 38,919 108,900 22,*25 13.226
27,878 130,**7 1 , 2* 0,032
39.858
*
1,036
6*,73*
2*
5,283
65,920
35.570
Gold w ith F . R. Agents
73.782
307 .3 S5 82,*91 125,0*8
3,*22
8 ,30*__ 12 1 ,850
*,023
7,053 17,572
5,922__
15,578
1,005_ 6.371
Gold redemption fund
25,223__,25? PQQ
56,181
191,622
2 , 07s , *32
77.688
570,*38 138, 3*1 181,253 81,5*3 110,706 372,355 9*.267 51.173
152,865
Total gold reserves
1.16
6
38*
57,10 *
72
3*3.
* 5.602
539
533
188
970
1,829__ 2 >2*0.
Legal tender n o t e s ,s ilv e r , e tc .
3,23s
57,
3*7
192,006
2,135,536
616 ,0*0 132,880 181,786 81,731 111.676 37*,18* 96,507 51,2*5 72,031
156,103
Total reserves
B il l s discounted:
Secured by Government war
5S*,5S8 178,6*s 120,536 87,901 61,379 1*6,8*0 **,1*2 22,*65 36,897 ^2,63* |j6 ,i|8 /
138,206
o b lig a tio n s (a)
203,606
29,*92 *7,0*1 20,760 22,2*3 122,*29 3*,093 *7,592
50,53611**27
2 6 ,0 g
6s*,51|_x
56,630
A ll other
191
312
*
698
56.923
16.031
16
.2
11
108,352
36.936
1*,*0
1
19.,981___
7
.73*
_
_
585, 21?
16,506
B i l l s bought in open market (b) ______
979*506
212
83s
22M-,500
I2u]692
106,^53
383,621
115,171
Sl+,452
107,*1*
61,795
^
’
JOO
2,7
1
? 2S
Total b i l l s on hand
211,3*2
—
-----—
11,1+76
1,153
116
2,867
3,966
2,632
26,831*
1,235
1,325
833
U.S. Government bonds
539
1,257
6*
372
10
U.S. V icto ry notes
5°
273,507
2
.
*80
15,2*9
9,090
11
,.*38.
U .S .c e r tific a te s of indebtedness 2 1 ,66l ___ 67>3*7 30,529 2*,217
5*+0 93,05* 131,530 7**251
Total earning a s s e ts
233.5*2 l , 0* S , l 60
U00
13,002
*62
600
399
691
515
2,936
500
519
295
Bank premises
1,091
3.99*
U ncollected items and other de
669 29,285 90, 66* 62,236
ductions from gross deposits
SI,682 235.089 86, 29* 91,23* 90,223 50,072 139.83*
5$ Redemption fund a g a in st F.R.
560
13,237
952
665
*28
6*7
2 ,116
1 , 1*6
*U3
798
1,* 7 5
bank notes
1,072
2,929
8,062
U
2
*
261
*21
,157_
1*1
316
1,785
1.506
. 3**
A ll other resources
___ 280____ 1 <39,2. 1,061
TOTAL RESOURCES
* 73,770 1 , 907,512 *72,962 525,565 312,669 225,700 9*8,706 302,370 17*,769 302,126 195, 65* *23.623 6 , 325,432
(a) Includes b i l l s discounted
fo r other F .R .B an ks,vizi
(b) Includes bankers* acceptances
bought from other F. R.
banks:
With th e ir endorsement
Without th e ir endorsement
25, 9*5
l*,670
5,080
12,265
5.065
25,307
20,113
19.301
9,721
9,805
5,065
1 ,1 1 3
-
10,021
5 . 18*
*0 ,6 15
69,293
58,201
St.S03c
Released, for publication Sunday morning, December 22, 1919i n°t earlier.
RESOURCES AND L IA B IL IT IE S
OF THE FED ER AL RESERVE B A M S
AT
C L O S E O F B U S IN E S S
D ECEM BER
26, 1919*
(In thousands of dollars.)
L I A
Federal Reserve Bank of
Capital paid-in
Surplus
Government deposits
Dae to members - Reserve account
Deferred availability items
Other deposits including foreign
government credits
Total gross deposits
F.R. notes in actual circulation
F.R.bahk notes in circulation net liability
All other liabilities
TO TAL L IA B IL IT IE S
Boston New York Phila.
7,824
22,328
7 -,lOS
5,206
32,922
5,3H
12,641
2 ,3 6 6
2,332
110,335 706,254 95,505
122,383 20,232
63,293
2,228
190,254
246,455
20,744
4.003
B
I L
I T
I E
S
Total
Clevel. Richm* Atlanta Chicago St*Louis Minn. Kans.Cy. Dallas San Fran.
4,012
3,424 12,347
5 .7^2
9,482
4,392
4,063
3 .07 ^
3,417
27,339
2,023
3,710 2 ,539
2,320
3,800 2,80 5
5 ,26 c
4,572
3.957
21,037
1 ,646
3,372
7,6 6 7
6,746
5,105
2 ,7 2 1
5,377
6,359
2 ,3 19
72,357
127,627 6 1,0 2 1 6 1,0 2 1 253,264 67,092 5 1.5 3 2 77,723 52,423 116,357 1.736,874
70,420 6s,364 3 6 ,12 9 10 3 ,13 0 5 5 .1 5 5 15 .^ 5 9 72,441 37,607 25.467
222,6SC
6.147
42.6s5 6,232
3*6l£ 2.J&L 1Q*£36 3-^ES .. 2,.2l6._ 3-h64s _ -.2.,.0.66. 5^si>5— -£k£§S9^9.363 136,135 210,9-40 141,37* 104,996 362,676 129,707 71,922 lb6,762 103,473 155 ,3^5 2 ,779 ,570
224,344 240,273 272,224 142,693 156,599 510,012 142,452 27,475 105,100 74,286 241,367 3,057,646
54,62!+ 29,022 £2,197 12.051 15,663 41,109 15,610
■22.^677 -4 ,-331 .__ 4,-202__ 2,359__ 2.,213-- 6^846 —
63,299
69,239
O U T S T A N D IN G A N D I N
ACTUAL
C IR C U L A T IO N
253.669 929,663 249,43s 284,335 155,232 162,209 533.732 167,515 22,916 111,005 77,977 277,201 3,292,092
.7.,.2l4_ a o4^ ia _ ....a a £ 5---i-i-.lL51---^*539__ 6,230 23,720 19, 06-3__ U-443__ ^§05— 3 ,-091- 3-5*-934— Z3lUi52_
F.R.notes in actual circulation 246,455
224,944 240,273 272,224 l4g,693 156,599 510,012 142,452 27,475 105,100 74,226 241,867 3.057,646
D IS T R IB U T IO N
O F B IL L S
Y/ithin 15 days l6 to 30 days
d is c o u n te d .
b o u g h t in op en m a rk e t
c e r t i f i c a t e s o f in d e b te d n e s s
261,039
4o ,S i 5
13,000
27.615
FED ER AL R ESER VE NOTES
B ills
B ills
U* S .
11,295
473,770 1 ,907,512 *+72,962 525,565 312,669 225,700 942,706 302,370 174,769 302,126 195,654 423,623 6 ,325,>+32
Contingent liability as endorser
on Discounted bills rediscounted
with other F . R . banks
Bankers’ acceptances sold to
other F . R . banks
F. R. notes outstanding
F. R. notes held by bank
2,157 19,5^6 10,415
-l-pgi-5— 2^ 43 -—
1,484,790
123,727
15,745
244,290
100,060
4,265
AND U .
S.
C E R T IF IC A T E S
31 to 60 days
292,715
209,272
3 , 91+o
OF
IN D E B T E D N E S S
6l to 90 days
152,125
152,147
10,715
B Y M A T U R IT IE S .
Over 90 days
Total
20,353
2,194,272
525,212
273 ,507
23 2,242
St.S03d
Released for publication Sunday morning, December 28, 1919; not earlier.
7
FEDERAL KESEKVE AGENTS* ACCOUHTS AT CLOSE OF BUSISESS EECMBEi 26, 1919-
(In thousands of dollars*)
Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Loms Minn. ^ ns.Cy. Bellas San Fran.
5KERAL RESERVE NOTES:
V
'Received from Comptroller
*75,980 1,975.560 510,780 blk,lkO 302,900 295,000 326,400 299,600 152,080 202,160 13S.7SO 1+06,300 6,060,280
Q^Q.£Q7 2UO.QOE 173.785.122+7-30
Returned to Comptroller
^
Chargeable to F. R. Agent
| Issued to F.R. bank less amount
I returned to F.R. Agent for
r redemption
\
COLLATERAL SECURITY FOR
OUTSTANDING NOTES:
* Cold coin and certificates on
hand
253,669
«■»
59,000
•
W
A
J
,
* ---- --------- —
~
T70 G!T7
t
Total
AMOUNT OF ELIGIBLE PAPER DELIVERED 21i,3>*2
TO F» R. AGENT
21,340
16,620
18,93s
40,445
5,320
20,000
929,663 249,438 2S4-.335 155,232 162,609 533 ,73S 167,515
123,740
—
-
4,000 13,052
2,500
2,990
2,71S
66,390 80,000 40,000 58,000 237,145
52,930
19,800
1 fifi.qU7
13,023
1,036
4,234
4,690
22,916 111,005
8,738
13,645 16,101
110,000
32,025
7,560
-
12,370
1,150
285,113
77,977 277,201 3,2?-,092
244,14-8
2,231
19,247
103,575
37,360 l4,4s4 111,200
292,309
2,498
J..Q1 1 595--53,34.6- 71,147-
977,365176.867 222,792 120,967 106,172 383,370 115 ,09s
90,347 272,951 3,577,211
<A
V
O <
<
0.
tf*(
O C
C\J 1
14,782
106,000
96,476 115,695
4 ;
Gold redemption fund
91 , 746..2£ 7, 3)l? n ? ,n *5
284,349 1,035,663 270,772 300,955 17^,170 203,254 539 ,05S 1S7»515
30,620
In hands of F. R. Agent
Total
69,l*56l07,359
4,563
61,795 159,315 2 ,7 1 1 ,&3S
STATEMENT FOR THE PRESS.
Released for publication
Monday morning, Dec 29,
193.9; not earlier.
St. SOU
Federal Reserve Boaxd,
Dec. 27, 1919*
CONDITION OF MEMBER BANKS.
Seduction of 209.2 millions in net demand deposits, due to payment of the
Decanter 15 installment of income and excess profits taxes, and an increase of
351.9-millions in Government deposits, also an addition of 155*2 millions to total
loans and investments, (less rediscounts), are indicated ty tho Federal Reserve
Boardls weekly statement of condition on December 19 , of 796 member banks in lead
ing cities*
Holdings of U. S. bonds declined 3.1 millions and of Victory notes - 9«7 m il
lions, while Treasury certificates on hand, as the result of the new issues placed
on December 15, went up 51*6 millions, of 'which only about 6 millions represents
the increase for the New York City banks. The amount of war paper held (exclus
ive of rediscounts) was about 2 millions larger than the week before, notwith
standing a decrease of 5*2 millions reported ty the Ne<« York banks.
Loans secured by stocks and bonds show an increase for the week of 21.1 mil
lions for all reporting banks and of 30.1 millions for the New York City banks
alone, while all other loans and investments were 93.3 millions larger than the
week "before*
The ratio of war securities and war paper to the ‘
b&riks1 total loans and
investments increased from 17 .U to 17 *5 per cent for all reporting banks, but de
clined from 21.1 to 20.6 per cent for the New York City banks,
Reserve balances with the Federal Reserve Banks show a decline of 35*5 millions
for the week, while cash in vault increased by about 10 millions.
were 9.7 millions larger than the week before.
Time deposits
The banks report a liquidation of
122.U millions in their aggregate accommodation with the Federal Reserve Banks,
bills payable totaling 130.9 millions less than the week before, while' customers’
paper rediscounted with the Federal Reserve Banks was 9*5 millions in excess of
the previous week’s total.
banks
Of the banks’ own notes discounted with the F. R.
gating 8U6.1 millions, all but 4*7 millions was secured by U. S. War
o b lig atio n s, while of the total customers’ paper rediscounted with the Reserve
banks less than Ho per cent was thus secured.
The gross total of war paper mid
;:Oi*'iing member banks or rediscounted by them
witn. i b a n k s was l,32o»9
millions, compared with 1 ,3^2.3 millions tho week before.
*
Released, for publication
« n
4
.
T
St.SOW
BAUXS IK LEADING CITIES.
(%»mUJ-n
Becaa.-iglS
Sept.i9 .i9i9
Jmi 20 , i'919
796
796
776
771
269,1 SS
269,250
270,365
2bS, 540
626,297
622,728
624,434
63SJS 1
241,910
251,624
312,726
388,738
S44. 309
792,722
1 .125.677
1.040.664
1 ,981,704
.1,942,324
2,333,202
2,336,723
Loans and investments, excl. of bills rediscounted with F.R. and other^banks^
Loans secured by U.S. war obligations
Loans secured by stocks and bonds other than U-S- securities
All other loans and investments--------- --- ---- - - - - -
1 ,022,633
3 ,270,511
1 ,343,049
3 ,026,16 s )
s,603,216 )
1,411,950
9,339,958
1,020,574
3 ,249,062
9,246,697
Reserve balances with F. R* bank - - - - - -
1,316,937
1,402,429
1,249,379
403,55*+
393,558
358,276
358,588
11,195,085
ll,4o4, 289
10,973,284
10 ,321 ,405
2,293,384
2,283,673
1 ,978,118
1,736,134
647, S9 S
295,962
770 ,S64
823,236
s4i,36s
925,339
1 ,062,494
4,735
971,714 )
5,340 )
306,274
322,204 )
335,917
300,522
486,037
461,599 )
17.5
17-4
Number of reporting banks - - - - - - - - - - - - - - - - - ~ - - - ~ ~ * ' U. S. bonds to secure circulation---------------------
“
Other U.S. bonds including Liberty bonds
---- - -- - - - - - - - - - - - -
U- S. Victory notes - - - - - - - - -
------
U. S. Certificates of indebtedness
—
- --------- ------ -
“
Total U. S. securities
----------
Cash in vault - - - - -
-- - -
Net demand deposits - - - - - - - - - - - - - - - Tine deposits - - - - - - - - - - - - - - - - - - - - - - - - Government deposits - - - - - - - - - - -Bills payable with Federal Reserve Bank:
Secured by U. S* war obligations - - - - - -- -- - - -All other
-
Bills rediscounted with Federal Reserve Bank*
Secured by U • S% war obligations — — — — — — — — — — — — —
All other - - - - - - - - - - - - -----------------Ratio of U* S* war securities and war paper to total loans and investments,
per cent - - - - - - - - - - - - -
22.3
10,733,113
1 ,26 s,9S9
24.0
Heleased for publication Monday morning, December 29, 1919* not earlier.
St.S04b
PRINCIPAL RESOURCE AND LIABILITY ITOTS OF ALL REPORTING MEMBER BANKS IN EACH FEDERAL RESERVE DISTRICT AS AT CLOSE OF BUSINESS DEC,19, I919 .
____________________________________________ (Amounts in thousands of dollars.) ___________________
Boston New York Phila♦ Clevel. Richm. Atlanta Chicago St.Louis Minn* Xans%Cy* Dallas San Fran.
Federal Reserve District
Total
No. reporting banks
46
112
56
90
82
47
107
35
35
82
43
6l
796
U.S.bonds to secure circulation
13,536
48,887
11,097
4i , s 4i
2b, 271
l 4ro i 5
20,873
17,153
7,120
14,217
13,573
34,605
269,18S
Other U.S.,incl. Liberty bonds
14, 4io
271. 07S
29,670
62,737
36,919
28,l 4o
54,561
l 4, 650
10, 6o4
24,570
20,717
58,241
626,297
7,767
95,472
12,325
25,926
12,608
8,286
*+5,133
5,515
2,996
7,221
4,050
14,6 11
241,910
112*307. 23,089
17,773
24, 565
36.585
52. 975
844.309
60, 4o7 38,493
70,573
s o ,325 160,432
1, 581,704
522,164 104,527 91,107 37,904 24,566
*+3,790
93,478 31,292 14,782 20,368
7,423 31,232
197,266 1, 462,037 201,504 351,281 114,151 54,474
467,834 153,949 31,454 73, 80b 31,107 126, 64s
671,609 3 , 3^2,708 486,197 794,059 339,859 353,591 1, 368,797 305,726 253,984 463,232 211,635 742,501
1,022,633
3 , 270,511
9, 339,958
U. S. Victory notes
U.S.certificates of indebtedness _ JtM 3.S...
Total U. S. securities
Loans and investments exclusive
of bills rediscounted with
F. E. and other banks:
Loans sec.by U.S.war oblig.
Loans sec.by stocks & bonds
All other loans& investments
S3,749
2Q,602 .. *±kS35.
747,940 111,15 1 197,3S4 105,400
92,376
232,874
Reserve balances with F.R. bank
77,189
629,951
64,043
86,901
37,378
35,777
183,027
40,503
21,091
43,723
25,524
71,830
1, 316,937
Cash in vault
28,431
136,195
20,549
37,760
18,456
l 4 ,646
71,978
13,054
9,137
15,1X0
10,735
27, 44o
403,554
Net demand deposits
767,447 5,066,722 638,432 816,544 360,777 302,283 1, 364,373 354,045 241,705 456,149 235,763
530,233 11, 195,085
Time deposits
128,032
397, 76s
22,172 330,219
Government deposits
42,433
283,506
**1,199
53,701
15,829
24,663
Bills payable with F.R. Bank:
Sec. by U.S-war obligations
All other
^3,761
339, S53
73,757
89,923
50,189
175
45,07s
46o
54,188
42,961
127,784
131,529
78,696
9,271
24, 283 38,083
10,746
14,388
3,105
26,870
Bills redisc, with F.R. Bank:
Sec. by U.S. war obligations
A1>1. other
96,900 119,729
555,033 110,727
59,884
85,612
35,551 351,757
2, 293,384
27,102
9,992
15,229
34,890
31, *442
647,89s
25,627
13,343
100
31,549
3,588
9,770
77
28,751
335
84i , 36 s
K 715
6,^77
18, 45s
2,423
39,554
3,800
32,304
2, 4S2
23,110
306,274
486,037
67,912
89,767 .
6,67s
89,917
124
4, 580
St.S04c
a w > bbahch cities and ail oieek hzportihg sms.
(Amounts in thousands of dollars.)____________________________
City of Chicago
Dec.19--- Dec.12
New York City
Dec.19-- -Dec-12
>
Number of reporting banks
U. S. bonds to secure circulation
>
Other U.S.bonds, including Liberty bonds
U. S. Victory notes
71
50
71
50
All F.R.bank cities F.R.branch cities
Dec.19--- Dec.12
Dec-19-- -Dec.12
276
276
178
178
All other
reporting banks
Dec. 19--- Dec. 12
342
342
39.190
39,190
1,439
1 ,43s
102,037
102,036
65.9^9
66 ,6ll
101,202
101,203
24l,l47
245,387
21,159
IS,2 56
365,^07
365,715
133.35^
l31+»738
127,536
128,275
34,287
90,903
20,490
21,213
136,382
143 ,.814
54,829
56,093
50,699
51,717
RP.
fi.jjffc*.■-— j
* • f^Q
jj j -
.q46
172,906 .
1 64,o?4
,108*457
427.038
421,466
387.894
7i i
112 ^.302.
101
Tntr 1 7 0
675.815
680,652
94,660
Loans and investments,exclusive of bills
rediscounted with F.R.and other banks:
Loans secured by U.S.war obligations 493.081
498,321
K.
Loans secured by stocks and bonds
1,322,225 1,292,134
All other loans and investments
2,982,667 2 ,922,888
371.480
788,779
66,672
791,123 791>35 120,267
118,445 111,243 110,694
417,820 420,838 418,035 413.467
313 M s 2 *434,656 2,414,757
782,600 5 ,917,006 5 ,842,846 1,698,932 1 ,690,131 1,724,020 1.713,720
U. S. certificates of indebtedness
*
Total U. S. securities
66,258
93r^46 1 ,166,772 1 ,127,961
968,170 1 ,-036,069
. .,
393.^97
178,863
186,452
169,904
179.908
69,408
66,301
93,795
93.674
Reserve balances with F.R. bank
592.798
637,966
129,821
132,118
Cash in vault
122,080
118,772
43,480
42,917
4,624,791 4 ,659,045
935.975
955,428 7 ,876,894 8 ,032,007 1,575.^5 1 ,606,613 1,742,746 1 .765.669
313.7^9
310,148
253.695
251,940 1 ,136,409 1 ,125,621
606,099
607,512
550,876
550,540
•271,499
107,797
45,798
2 1,15 5
501 ,19 s
215,836
81,094
42,340
65 *606
37.786
415,069
45,962
43,o4l
544,691
648,441
193,^36
4,015
208,129
4,085
103,241
720
115,144
505
2 1,112
20,033
68,315
75,184
20,057
51,745
19,709
51.277
18-1
17*9
15.-1
15*3
V Net demand deposits
Time .deposits
'*
.
Government deposits
Bills payable with F. R. Bank:
Secured by U» S. war obligations
298,806
V
All other
Bills rediscounted with Ft R. Bank:
122,446
Secured by U. S. war obligations
122,882
All other
Ratio of U.S.war securities and war paper
20.6
ta total loans and investments,per cent
4.FRASER
Digitized for
240,351
233.583
750
138,605
3.^7
75.131
265,105
124,155
2,467
75,874
365,977
282,462
335.13S
21-1
12 .1
1 2 .1
IS-O
17*9
St.S07
Hot for publication
Federal Reserve
J->dlIUc4.
ABILITIES,
RATIO OF TOTAL RESERVES TO COMBINED FEDERAL RESERVE NOTE ABD ijet DEPOSIT LI
tCULATION
RATIO OF GOLD RESERVES TO F. R- NOTES IN ACTUAL CI1
AND OF GOLD A!® LAWFUL MONEY RESERVES TO NET DEPOSIT ILIABILITIES OF
Vijcember 26 , 1919
ALL FEDERAL RESERVE BANKS.
Ratio of gold re
Ratio
cf
gold
and
Ratio of total reserves to Ratio of gold reserves to F.R. notes in
serves to F.R.notes
actual circulation after setting aside lawful money reserves
net deposit and F- R. note
inactual circulation
to net deposits
35$ against net deposit liabilities
liabilities combined
Dec.19--Dec.26
Dec.19“—
Dec.26
December 19---December 26
Dp.r.ffTnbpr IQ--December 26
45.6
44.0
50,1
47.9
5S.4
52.6
40.0
40.2
Boston
New York
1+4.6
40.0
52'.5
44.3
51.6
39-7
3S-9
40.3
Philadelphia
40.3
. 4o.s
42.S
43.3
40.0
40.9
' 40.5
40.S
Cleveland
45.9
46-3
5O.5
51*3
47.6
46.6
45.2
46-2
Richmond
44.7
40.9
4s. 7
42.9
67.0
67.2
35*3
31-9
Atlanta
50.1
52.8
55.4
59.0
6s.1
72.6
43.6
4 5 .s
Chicago
53*2
50.6
60.S
57-7
53*3
4s.4
53-1
5i*7
St. Louis
47,2
46-5
52.3
5 1.1
49.3
4l.S
47.3
4s.4
Minneapolis
4i.l
39-4
44.3
4 1.5
39*9
31-2
4 1.7
43.4
Kansas City
4l.6
43.1
46.0
4s. 9
39*9
44.9
42.7
41.7
Ifellas
49.3
49.4
57*5
57-3
64.4
63.2
40-5
4l-S
55*1
_—_Z
_Z———--
54.9
63.1
63 -S
55*5... .. 4 9 .5 __
54.9_
57-4
46.S
44.S
53-2
50.3
52 .O
44.1
44.5
UCLL1> XdiiwXwV/V
Total
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER 29, 1919
45»4
T
0
if
St. 206
LIBERTY BONDS, VICTORY NOTES AND CERTIFICATES OF INDEBTEDNESS OWNED BY REPOSTING MEMBER BANKS,
ALSO LOANS OF SUCH BANKS SECURED BY EACH CLASS OF U. S. YIAR OBLIGATIONS.
(in thousands of dollars.)
1. Government war obligations o^vned by reporting member banks in e-^-ch F. R. District
Total
Certificates of indebtedness
Victory notes
Liberty bonds
F R.
Dec.12 , 1919
1919
Dec.19,
Dec.19,1919 1 Bee.1 2 , 1919"
Dec.19,1919 Dec.12, 1919 Dac.19,1919 Dec.12,1919
District
62,021
45,941
70,213
42,036
7,744
14,410
14,336
7,767
Boston
703,506
324,934
699.053
275,440
332,503
95,472
103,132
New York
271,072
100.054
26,017
43»531
■
5S.053
12.930
29,670
12,325
Philadelphia
29,556
150,542
66
?
2
S
0
155,543
60,273
63,222
25,926
26,987
Cleveland
62,737
77,964
29,oC2
79,129
12,904
22,719
12,602
36,341
Richmond
36,919
72,361
75,927
9,045
32,125
2,226
41,935
28,140
2S,697
Atlanta
216,361
212,001
117,332
112,307
45.930
Chicago
54,361
53,099
45,133
43,254
33,176
13,034
23,029
5 .34s
14,650
14,794
St. Louis
5,515
31,644
17,946
31,373
3,376
10,604
17,773
10,322
2,996
Minneapolis
20,462
56,356
53.121
24.565
7,221
7, 5^6
24,570
Kansas City
25,107
46,113
61,352
4,100
4,050
21,331
20,622
36,525
Dallas
20,717
130,676
61.022
1
,
673,074
1,712
,516
792,722
244,309
251,624
241,910
628,722
Total
626,297
CON F I D E N T I A L
Not for publication
2* Loans of all reporting member banks in each Federal Rescsrve District se3cured by Total
Certificates of indebtedness
Victory Hotes
Liberty Bonds
F,
Dec.
19
,
1919
L3c.12. 1919
Dec.
12,
1919
Dec,19,1919
1
Dec12
,
1919
Dec-12,
1919
District
Dac.19,1919 !
Dec*19,1919 1
' 39»454
650
43,790
6,229
32,426
6,37
s
36,562
933
Boston
522,164
ie ,9 S i
522,199
209,211
205,742
2,229
309,476
New York
303,524
104
,527
1,121
IO5,
l62
272
27,264
29,416
74,631
Philadelphia
75,791
1,015
91,107
11,764
2
9
,11
1
1,917
1
1
,
617
Cleveland
76,332
77,573
37,904
186
37 s554
30,320
253
Richmond
30,037
7,331
7,331
24,515
24,566
323
305
Atlanta
5,909
5,799
12,352
I S , 393
93.472
93.340
,4,662
3»?30
20,005
20;617
Chicago
69,031
62,673
^0.417
219
31,292
&6l
22,545
23,210
6,221
St- Louis
7,053
14,722
700
629
15.052
240
8 50
Minneapolis
13,512
13,303
20,362
20,223
562
565
3,302
1 6 , 6o4
Kansas City
3,199
16,353
7,423
7,469
622
642
1,704
1.594
Dallas
5.137
5.1S7
30,072
31,232
6,310
605
24, 570
. 323_
23,379
6,057
San Francisco
1 /022,633
24,030
20,041
1,020,574
690,294
305,650
Total
694,633
307.959
FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
DECEMBER ^9, 1919,
c o n f i d e n t i a l
St.S06a
LIBERTY BONDS, VICTORY NOTES AND CERTIFICATES OF INDEBTEDNESS O’TNED BY REPORTING MEMBER BANKS
ALSO LOANS OF SUCH BANKS SECURED BY EACH CLASS OF U.S. WAR OBLIGATIONS.
(in thousands of dollars.)
Government
war
obiis^ations
owned
by
reporting;
member
banks
in each Federal Reserve Bank::city:
ii.
Certificates of indebtedness
Victory Notes
Total
Liberty bonds
F.R. Bank
Dec.19, 1919 I Dec.12,191
Dec-19, 1919T Eec •12,1919
Sec.19, 1919 Dec.12,1919 1)3 1 9 , 1 9 19 I D a e - 1 2 ,1 9 1 9
_Cities
31.706
30,*55
6,238
6 ,5 2 2
39 . 1S1
37,696
953
953
Boston
636,625 .
90,903
305.172
8*,287
6*1,1+62
New York
2*1 ,1*7
2*5,3S7
311.191
9 ,*S 5
S , 92S
35,323
22,272
22,219
71,053
Philadelphia
5*.123
39. 3*9
16,610
5, *65
32,21s
Cleveland
6.053
9.6S5
16,355
9.555
31,505
1,690
5 ,1+52
5.160
607
7 . 001+
Richmond
6S7
1.157
7 , 7*9
721+
1,500
i,*i*
20,027
Atlanta
19, 99S
723
17,775
17.SS9
20,1+90
21,213
18,256
51.572
93.221
92,00s
Chicago
21,159
52,539
2,000
10,553
5 ,8 2 *
5,916
2 ,1**
20,30*
28,272
St. Louis
i s . *69
1,59s
630
6,013
6,176
8,065
1,630
259
Minneapolis
8,2*1
*,
9
S
2
3,21s
8 ,3*6
17,661+
*,017
5.667
Kansas City
3.779
17, 3*5
5 .2S0
23,00*
29,210
S65
6,236
Dallas
12 ,US5
969
5>3*1
36,296
6 ,iso
61,322
_
_
7 ,SS2
........25,41+1
San Francisco
36,657
.. 23,323
67,917
562,9*6
136,382
1*3 ,s i*
1 , 025,925
Total
365,*07
516,396
365,715
1 ,064,735
Not for publication
1+. Loans of reporting member banks in Federal. lieserve bank cities secured by Certificates c.f ir.j.ebtedness
To t.i.1
Liberty bonds
Victory-Notes
F. R. Bank
:.5c.. 1 2 1919 ' Lee-19) 19IS. *
Cities
Dec-1211919 ' Dec.19, 1919
! Declc, 1919 1 Dec.12,1919
923
*,C 33
21,382
63s
Boston
29 , 5'^
-■*.39*
*.151
8 , 82*
287, 23*
12,901
*93,081
202,*90
19 s,is6
New York
281,767
1,121
70,192
28,52*
26,966
Philadelphia
7 1 .*90
827
99. 2S3
25,*00
21,031
*,200
229
20,606
911
Cleveland
3,883
10,615
l*,056
Richmond
10, 1+87
3,569
3.359
1+,01+S
Atlanta
2,217
2,237
6.365
105
3 .S 79
100
66,25s
Chicago
* 7,209
15,197
*,112
* 7, 7*5
15.351
3.316
22,211
16,668
5.26*
St* Louis
5,052
15. 3S9
*91
6*9
8,282
3*3
Minneapolis
7,*60
7 , 5*S
367
*27
391
Xansas City
* , 97S
5,129
6,077
559
657
389
389
1,280
1,1*2
238
2,057
■Balias
366
539
525
San Francisco
18,5*5
230
.2x7.57 ..... .
233
_ ____ i*x555.__ . . 13x3*3 ....
....3x2.11
503,35*
Total
268,462
266,255
5C5>717
16 ,9**
21,326
791.123
FEDERAL RESERVE BOARD
DIVISION OF REPORTS 'FD STATISTICS
DECIDER 29, 19 19 .
1 1919
26,053
* 98,321
89 .S 37
25,*60
13,971
6,221
66,672
21,302
8 , 25*
6,02*
2,033
1 7 ,28*
791. *35
•
@FedFRASER