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l 1 --- S L.ls. t<-~·7·: t ...... Releasea for publication Saturday morning, Dec. 27 not earlier. ! •. Feder'll Reserve Board, Dec3rribcr 26, 192L+. B~~S CONDITION OF FEDERAL RFSBPVE Ti.:e consolidated statelnent of concHtion of t>e Feder.<1l reserve banks on December 24, made public ·by the Federal Reserve Board, s ·cws &;.'l incre.<1se of $ll2,600,000 in noldings of discounted bills and of $52,700 1 000 in acceptances purchased in open market, together with a reduction of $26 ,300)000 in Governrr.ent security holdings, Total earning assets went up $139,100,000 to $1,331,900,000, Federal reser·ve note circulation went up $70,300,000, and total deposits · $54,900,000, while cash reserves want dcwn $51,100,000 and non-reserve cash $2,800,000. An increase of $81,100,000 in discount holdings is reported by the Federal Reserve Bank of New York, Boston reports an increase of $12,700 1 000, PhilaCelpr~a of $12,300,000, San Fr::moisco of $5,500,000 anc1 Ricl:mond of $3,000,000. The Cleveland bank shows a decline of $5,200 1 000 in its discount holdings, wh~le the remaining banks show relatively smaller changes for t::-.e week. Holdings of pa(?er · secured by Uo~. S. Govermlent obligations increasee by $60 ,SOO,OOO to $239,200 ,000o Larger holdings o:f acceptances purchased in open :market are shown by all Fed.era1 reserve banlcs, except Phi laL~elpr,ia and lv!inneapoli s which report a total decline of $700,000. The largest increases in acceptance holdings :for the week are as follows: New York $11,300,000, San Francisco $9,500)000 1 Chicago $7,4oO,OOO, Dallas $5,500,000, and St. Louis $5,4oO,OOO. Tl~ System 1 s holdings of Treasury certificates declined $37,500,000, while holdings of U. s. bonos went up $10,200,000 and those of Treasury notes $1,100,000, All FeC!eral reserve banks show the usual holiday ex:oansion in Federal reserve note circulation, the increase aggregating $70,300~000 for the System as a whole. T:.1e principal incre':t.ses in this item were as :follovvs: New York $1S,6oo,ooo, Cleveland $l0,900,000, Boston $3,300,000, P~~laoelp~ia $8,500,000, San Frarcisco $5,600,000, Atlanta $4$800,000, and Richmond $4,500,000. A summary of changes in t~e principal assets and liabilities of the reserve banks during t 1'e weak ano t:t-Je year ending Becember 24, 1924, follows: Increase or decre"lse during Yes.r Week -$Sl,J.OO,OOO - 41,300 ,000 Total reserves •. Gold reserves •• +139 ,100,000 Total earr.ing asse.ts • • . +112 ,6oo ;OOO Bills discounted, total Secured by U.S.Government obligations + 60,3001000 Other bills discounted , • • • • + 31,800,000 Ei lls bought in open market U. ... . s. Government securities, total Bonds • • • . . . . . . . Treasury notes • . • . Certificates of indebtedness • .. Federal reserve notes in circulation • Tot;al deposits • • • Me:rribers 1 reserve deposits Government deposits •. Otner deposits •••. -$14o,ooo,ooo 158,300,000 - + 34,200,000 46o~7oo,ooo - 202,600,000 - 2)8,100,000 + 52,700,000 + 53,200,000 - 26,300~000 + 10 • r~~ lO , 000 + l,lDO,OOO - 37,50U 1 00C + 433, 700 ,000 . • + 70,300,000 . . . . . + ,:; 4 (100 . 000 .. + . . . . . . . + 49,t001000 . . . . . . . 2,600,000 ./ J .I 1 8~100,000 + 51,200,000 + 277 1300,000 l l + 105,200,000 :l - 1 39s,6oo,ooo + 373,300,000 .,. 3 46 , 4oo, ooo I .j. + 15,300,000 9,6oo,ooo ! l l l :1 l l l l• 1 Relaa.eed- .tor.-publ-ication...Satwda;y. morning, ll!ecember St. 4}71a.. 27, 1924. DESOURCES AND LIABILITIES O.F TBE T!TELVE .FEJ::J;RA1 P.ZSERVE BANKS CO:-nBINED (In thousal')(ls ·of C! ollar.s) Dec. RES O·U R C E S :}old with Fer e:t:al :reserve agent a • • . • 1-olC! 1:reci ompt ion Lu1Cl with U.S. Treasury Gold held exclusively Bese:r.ves othe:r. than golcl . Total rese:rVt13 .. .. . bi~ls discounted Bille bought i.r: '-"!- m market U. S. Gove:r.mner!t sscuri ties: .. ... ..... Bond.s • • • • .. . • • • • • • •c T:r.easu:r.y notes • . • • • • . Certificate~ of indebtedness • ... ... Total U. S. C!.ovornment securities •• Foreign 1 oans on gold. • • . All other earnb,; assate • . . Total ear.·n:.ng assetr. 5% Redemption fund - • • ·F. R. Bank notes Uncollected iterM • Bank premia es • • • • • All other resources • • .. .. .. TOTAL RESOURCES L I AB I L I ~ 1, 792,974 637,240 482,605 2,912,819 84,694 2, 997' 513 37,668 1,869,472 589~ 390 495,256 2, 951+1118 94,467 3,048, 585 4o,418 2,176,092 553,604 341,401 239,230 157,199 396,429 389,574 158i413 125,398 441,842 415,309 283,811 336,827 857,151 336,415 74,756 342,552 120,571 23,555 65,280 15,323 104,158 6,000 21050 1,331,932 64,578 341,485 158,099 564,162 6,000 2,050 1, 192,850 674,514 61,819 23,827 :;31,419 61,766 23,458 1,297.775 28 591,608 57,105 5,127' 273 5,198,498 5,169,377 1,871,453 2,340,375 470 4"' Non-rese:rve caab • • • . Bill& discounter: Sec. by U. S. Government obligations Other bills cl i~counted • • • • • . • Total 2,109,814 66,278 r.;6 7 ...- I I -' }old settlement fund with .F. ll. Boa-rei G·olcl and golc1 cer.t i fica tee helc1 by banks Dec_.:._!I.L-1924 Dec. 26, 192} 1, 822,424 1, 7lJ.7, 218 agai~st __lf!R.nctes Total golcl -rus s·r·":T c; • • 21~, _ _1921~ 537,879 ~1_~_48 I ES F'. R. notes irl actual cir.cdation F. n. ]arik notes in circulation - net • • Deposits: Member bank - :reserve account • Government • • • Othe:r. ci epos i te . . . . . Total deposits ••.• I?efe-r-red availability items .. Capital paid in • • • • • • . $urpl us . • . . . . . . . . . . . . • All other liabilities· • • • • • . TOTAL LIABILITIES • . . 2, 222,879.---- 7 2,214,744 8, 542 56 J om_ 33,022. 30,213- y 2,256,308 2, 311,184 723,943 526,992 112,036 112,026 220,915 220,915 13,843 14,409 --- 5,127,273 5,198,498 3,071,097 66,419 3,137.516 69',661 51 ~,684 1,874,:'~6 42,C.ll 20 1 572 1, 937' £69 535,490 110,103 218,369 26,701 5,169,377 Ratio of total.:r.eservea to de-posit and F. R. note liabilities combined. • • • • 70.5% 73-9% 73·3% Contingent liability on bills pu:r.cha.secl • fo:r. foreign co:rr.espon:lents • . • . 41,754 42,725 17,608 I Re1easec1 for publication Saturday morning, Dec~.:ioer 27, 1924; not earlier. St. 43/lb RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT 'CJ,OSE OF BDSHTESS,. DECE:r'\E:R 24, 1924. RESOURCES (In thcusa.nd.s of c'l o11ars) Boston New York Phil a. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total FeC!e:ral Rese:rva Bank of Gold with Fe~eral Bese~e Agents 167,370 384,374 170,262 172,090 80,115 145,082 190,922 56,767 73,854 62,040 40,794 203,548 1,747,218 Golc'l :redemption fund with U.S.Treas. 10,700 7,744 7, 762 1,377 1,971 1,673 3, 264 2, 555 351 4,448 1,908 2,003 45!756 Gclc'l relcl exc1usive~~l~•'l?. F". R. nctcs 178,070 Gclcl settlement fund with F.R.Boa:r.O 36,481 Gclc:l anc1 golc'l cart if. halc1 by banks 17,938 ----Tc tal gclci ...2:_es a-r_y~~ "Reserves other than geld Tctal ress:rvee 232,489 9,553 242,042 3.375 Non-reserve cash ·Bills r:i isccuntecl: Secured by U.S.Gcvt. obligations . 18,723 11,207 Otha:r bills discounted Total bills dj sccunted. 29,930 Bills bought in cpen m:1rket 59 ,65~ U. S. Gcva~nment secu~ities: 2,472 Bcn0s 22,360 Treas ""..lry net es 10,577 Ce:rtificatas of in0ebtodness Tcta1_U~~c v~ sec~_!i ties Foreign 1 ca.na C.'l gel r:i All oth::r ca:r·ning asssh Total 3a:rning asse+,s Uncollect3c1 items Bank premises All other resou~ces c TO'J'AJJ RESCURCES 392,118 178,0~ 173,467 82,086 146,755 194,186 59.322 74,205 66,488 42,702 205,551 1, 792,974 273,031 22,227 63,41~ 27,491 16,697 83,081 16,575 17,71' 32,210 •10, 293 36,106 637 t 24o 265,781 24,817 18,39 11- 18,954 7,928 76,923 7, 784 5,64 2, 712 8,645 26,885 482,605 930,930 225,063 255,280 12Z,531 171,330 354,190 83, 6Sl 97, 568 101 '410 61,750 270,542 2,912,819 18,6oO 3,316 6,~56 3,508 6,617 l0,6g9 9,220 1,320 3,249 8,222 3,544 84,694 949,530 2a:',3S4 262,136 132,039 177,997 364,879 92,901 98,CS8 104,659 69,972 274,086 2,997,513 11,545 1,03S 2,006 1,680 2,643 588 2,033 1,453 2,865 37,668 6,135 2,307 103,105 37,601 31,052 9,746 134,157 47,347 1o4:;b43 18,7:22 202 881 467 7, 715 27,579 11,474 1,666 24,456 5,361 18,454 21,910 18,149 20,705 6,506 . 4,173 4,623 3,480 7,194 46,033 33,384 19,815 45,161 11,867 4,375 5,5o4 3,947 14,909 •4l,o r~ · · 1,361 9,978 35,760 21,078 26,083 54,346 16,165 15 12,385 1,345 11 '12:> ll"l, 793 23,988 33,357 39,166 4,556 15,567 1,340 2,427 844- 1,584 19,022 1, 264 8,918 8,903 3,220 3,177 1,335 45,852 11,086 12,993 17,935 16,734 36,772 886 15,024 2,818 3,988 6,534 5,420 15,191 239,230 157,199 396,429 389,574 74,756. 342,552 120,571 169,344 29,889 60,050 4,611 3,805 79,898 15,088 25,899 33,372 25,374 55,140 537,879 1 t 71'.6 228 6,000 702 342 264 894 216 456 276 562 294 2,050 500 1 5~0 --··-·--·-··· -··- ---·----~-------124,994 4o9, j<)O 98,090 148,453 39,698 33,862 161,713 48,327 30,505 55,817 55,632 124,851 1,931,932 55,467 146,322 58,967 62,173 57,595 32,227 ss,ss4 42,3o4 16,252 44,085 30,965 39,273 674,514 61,819 2,528 2,875 8,264 3,170 3, 206 4,597 1,912 3,260 4,312 17,452 1,114 9,129 8,462 201 226 2~,827 769 1,836 4,177 333 3,586 358 355 2,252 1,272 35,409 I 430,391 1,543,301 387,819 484,255 233,895 251,856 631,147 189,342 153,025 211,960 161,770 448,512 5,127,273 !::2lc;''·'-'c:o.:l for l;ullicstion Su.tucday morning, Decomber. 27, 1924; not ei;:l.:rli8r. RESOTJRCES AND LIABILI'l'IES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSIN"ESS, DECEMBER 24, 1924. L I ABI L I TI E S Fad e:ra1 Reserve Bank of F. R. notes in actual ci:rcdation ·Deposits: Member bank - :reserve account Gove:r~m:::nt. Othar c1 apes ito Tot_§:.1 Ci~_cs_:l_~s Dafe:rrecl n:,railat i l i ty i t.:m:s Gapi tal p:: icl in Su. :r.p 1 us All otbar. liabili tias Boston 215,824 (In thouscmd s of cloll a.:rs) Naw York Phila. Clove. Rich. Atlc.nta Chicago St.Louis Minn. 394,825 182,315 217,541 94,058 147,823 201,598 59,113 73,574 Kans.Cy. Dallas San .B'ran. 74,681 Total 58,357 222,038 1,941,747 1 137,028 903,165 122,882175,196 65,??0 5,641 16l609 3,320 5,561 5,445 _.....:2=.:1:..:0_·_.....:2=--0, 71? 3JO .?'59 _ _152 65,620 315,207 76,857 5,169 5,390 3,268 _ _Dj__l 1 1U9_ _ 624 53,591 89,373) 59,795159,096 2,222,8~7 1,232 . . .z~.:3 2,601 2.·,933 5S,OiH _·_44l+_. __ l,.Q(:4 __ . __ 209.. __~JJ_z.l___30, 2~ 9l;C,~36 126,512 l~1~61G 70,660 115,109 47,964 47,196 50,710 30,149 10,513 12,756 5,30:> 59,929 19,927 23,691 11,672 2,g03 583 1,455 E95 70,908 321,746 80~769 15,250 60,317 33,725 4,554 15~1€'6 5,129 8,950 30,426 10,0-{2 1 1 361 1~6-{4 534 55,267 12;013 3,270 7,4S4 1,417 142,679 46,717 7,9130 16,390 601 91,286 62,605 166,450 2,311,164 23,1[~0 35,302 4,130 B,lC6 9,436 7,577 15,301 650___ 92l_.l:...t..315 3l,"10Q 4,33S 526,992 112,026 220,915 1~~~29__ 430,331 1,543,301 357,819 464,255 233,895 251,356 631,147 189,342 153,025 211,960 161,770 44£,512 5,127,273 Ratio of tote.l :reserves to c1 eposit a~0 F. R, n<t9 liabilities c cmbineC'· , per c e:-:tt CcntingAnt liability en bills purcb~s x'l for foreign cor:responc1 ents 67:. 5 71.1 63.1 70.6 F. R. notes in actual ci :rcul at ion 215,S24 4,999 76.8 F. s.. not.:;s O'L",tstar.cl ing F. R. notes held by banks c. 4,144 66.4 916 6,366 2,094 1,538 1,965 1,624 3,247 41,754 F?'D:PPJ~ RESERVE NOTES OUTSTANDING· Mill IN AC'YUAI, CIRCULATION 239,506 523,794 217,690 2)3,133 102,149 167,132 215,040 65,936 76,927 31,003 64,331 260,5J3 2,253,234 ~_!_6_G_2___ 134,969 35,375 15,592 e, 091 19,309 13, 4l.!.2 6, 623 3i 353 6. 322 5, 9{~.__)6,__255 _3.!1.?~H5L Bills c1 isco'Lmted Bills bought in open market Certificetes of indebtedn~es 12,426 74.0 2)435 394,325 1s2,315 217,541 94,o5s 147,C23 201,591; 59,113 73,574 74,6r1 5f:,357 222,03s 1,941,747 DISTRIBUTION OF BILIS AND U. S. CERTI FICAT:<;S OF INDEBTEDNESS BY MATURITIES F:r.cm 91 Clays V:ithin 15 days Over kv rr'Jnths Total 16 to 30 days 61 tc 90 days 31 to 60 clays to 6 :mont:1.s 22,923 30, ll6 313,715 18,939 9,841 730 ,~06 . ,- .,,/ ' )•--3 -rc .,., 114,154 70, :)48 1Cl,937 )0,046 l1-:; u:"1Q 574 ---·' 341 lS, 012 3,022 120,571 S9~ 156 ~.-9 ,..;· R:3le:-.sea for pub1icaticn Saturday morning, D0cember i::./, 1924i not earlier. FEDERAL RESERVE AGENTS' ACC00~TS AT CLOSE OF BUSINESS, DECEW~ER 24, 1924. (In thcusanrls of c:1ol1a:rs) Fere:ral Reserve Agent at Boston New Ycrk Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dn.lle.s San Fran. Total R E S 0 UR CE S Fec:1 eral Reserve .nctes en ha.nc.'l Fac'leral Reserve notes cutsta.n:ling Collateral security for Fer1e;ral Reserve nctes cutstanCl ing: G~lc.'l ann gold certificates Gclc:1 :ce<'l empti en f,.m1 Gclc'l fun0 - F. R. Bc:1rc.'l Eligible paper Amnmt req_uire0 Excess amount helCl TOTAL 26,953 81,003 942,488 15,152 62,300 64,331 260,593 2,253,234 13,052 3 '9~'2 1,302 44,000 59,500 3, 600 58,360 273,494 14,556 ll6, 771 4,733 16' 733 21,500 186,765 1,351,953 9,169 23 '745 18,963 2,650 23,537 6, 213 49,750 239,506 334,940 32,000 48,270 24,984 57,570 252,020 25,500 13,049 529,794 217,690 233,133102,149 167,132 215,040 65,936 76,927 35,})0 14,070 118,000 6,000 8,700 188,531 29,843 11,873 13' 310 166,000 152,339 150,000 3,500 2,320 9,582 5,27f5 77,795 132,000 185,644 145,_420 75,607 22,034 10,9S6 72,136 17,449 47,423 3,168 61,043 20,323 22,050 7,580 24,118 56,556 8, 775 3,073 501 57,045 12,006 506,016 236,649 546,211 1' 470,135 )t70, 548 534,659 240,268 399,414 738,656 lol,ll7 167,404 191,609 150,092 595,492 5,6s·5,305 L I ABI L I T I ES Net amcunt of Fe<'i e:ral :Reserve nct.-Js roc0ivccl frcm Comptrcllor of tbe Currency 239,256 864,734 249,690 261,403 127,133 224,702 467,060 91,436 167,HO s9_:5-:j5 3L:l~,374 170,262172,090 22!., 021 50,596 61,366 56,767 73,854 32,914 3, 574 Ccllato:r[ll :r;;ceivec:1 frC>m Fad a :reel :reserve bank: Gel~ Eligible paper TOTAL ... v. 60,115145,0r$2 190,922 33,020 29,630 ~o, 674 69,976 107,956 62,040 21,613 79,4&3 322,693 3,195, 722 40,794 203,543 1,747,21S 23,615 69,051 742,~65 546,211 1,470,135 470,548 534,~59 240,268 399,414 733,656 181,117 167,404 191,609 150,092 595,492 5,635,805