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srr ATEMENT .FOR THE PRESS
St. 4344
Beleased fJ~ publication
Fri0ay mo~ing, Dec, 5;
not earlier..
Fe0e~al
Reserve
Boa~,
Decembe:r 4, 1924.
CONDITION OF FEDERAl, RESERVE BANKS
The consoli<'lated statement of condition of the
FQ<'Ie~al
rese:rve banks on Decem-
be~ 3, made public by the F.3da~al Rese:rve Boa~d, shows increases of $73,600,000 in
hol0ings of acceptanc·es pu'~'chas->~ in open market ani of $27,500,000 in cHscountod
bills, together. with a d ec:reasa of $7,300,000 in Govemmo;:;r..t ~:;ecuri ties. Total ea"rr- ·
ing assets went up $99,400,000 du-ring the week, total c1epos i ~s ~102, 700,000, Fede:r-E':
~eserve note ci ~cul'at ion ·· $3, 700,000, an0 non-'~'eearv3 ca.:.-;h ~5~ 700,000, while cash
reserves d eclinecl by $16,100,000.
An inc~ease of $23,500,000 in holdings of d iscountecl bills \vas rapc~ted by the
Fetie~al Pese~ve Bank of New York, of $10,000,000 by the Chicago bank, an(! of
$1,700,000 and $1,300,000, ~espectively, b,r Cleveland an(! San F~ancisco. The
' Federal Rese~ve bank of nichmoncl shows a decline of $4,000,000 in its discount
polnings for the week, Phila.clelphia- of $1,900,000, and St. I,,ouis o,r $1,200,':00.
~he ~emaining banks show ~elatively small changes in tnis item.
Ho~dings of paper
secu~ecl by u. s. Gove~ment obligations inc~ease<'l by $2S, 4oO, 000 to $124,700,000,
All Fene~al "reserve banks ~eport la~ge~ hcldings of accepta~~~lpu~chased in
9pen ma~ket, with the a xc.eption of Minnaapolil which repc~ts a/ oeJC!lna, the pdncil>al inc~eases being as fellows: New Yo:rk $41,700,000, Boston $12,100,000, Clevelan.~
$5,400,000, Sar:t Francis_co t5,000,0JO, an(! Dallas $2,300,000. The System's hclCiingt.
Of T~eaeuey c 3rtificatea Of in:'lebtedness declinad by $6,500,000 du~ing the week,
while holfl in;;rs of T~easu"!'Y notes increased ey $800,000 aro those of U. s. bo:rx'l s by
$500,000. Du~in~; the week the Fsc'eral rese-rve banks loan~: $6,000,000 to a. fc:reig'i
bank fo~ a pe~ico of th~ee months against a d.eposit of geld. The amctmt of the loa,
appea:rs in the accompanying statement against the caption "Fo,..eign leans on gclCI,n
Inc~eased Feneral ~ese~ve note ci:rculaticn is ~sported by all Fede~al Rese~ve
banks except Clevelanc1, New Yo:r.k am Chicago, the bank fi:rst named showing a Cleclin.'
of i4,600,000. The Federal Rese:rve Bank of San Francisco shews an increase cf
$3,400,000 in its Federal Reserve ncte ci"rculation, Atlanta shews an inc~ease cf
$1,800,000, and Boston an increase of $1,700,000.
A summary of changes in the p:rincipal assets ani liabilities of the reserve
banks clu:ring the week an(! the yea:r ending December 3, 1924, fellows:
Incre~se
cr ilec:rease Clul'ing
Week ____
..
Total reserves • • •
Gol0 rese-rves
s.
U.
Gcve~nment
B c)'l{t s
o
•
•
•
~na~ket
••....
•
•
•
~
•
•
,
•
•
•
•
rr~e~:.:<:m:ry not ee • . . . . . . . • .
Ca.,..ti ""icates of inrlsbtedness . ;
B'e0aral Reserve notes in circulaticn ,
~'o-:;al
c:lepcS~i ts • .
~.1an.l:Jer~: ~ess~ve
99,400,000
27, 500,COO
28,400,000
900,000
+
50,400,000
497' 300,000
234,400,000
262,900,000
+
73,SOO,OOO
+
56,roo,ooo
+
7,300,000
500,000
+
..
. . • . . . . . ..
0eposits • . . . . . .
Gov ernrnen t c1 ep cs its • • . . . . . . . . •
Other c'leposits • • . . . . . . . . . . .
+
$79,820,000
90,200,000
+
+
secul'ities, tctal . . .
•
---
$16,100,:JOO
18, }JO, 000
Total earnin; assets
Bill~ Cliscounten, total
Secure0 by U. S. Gove~ment obli~ations
Othe~ bills disccuntec1 • . . . . . . .
Bills ':Jt:)U£ht in open
Yea~
+
+
3, :.1:.:o} ooo
ooo
463,600,000
26,200,0JO
+ 339' 100,
·!·
llb 1 400 1 000
); 700,000
403,600,000
.::o ~-~o
j
+
oc:o
+ 1 f)f: 1 "7(,0 1 000
+ 369,9CO,OOO
+ 104,300,000
3,800,000
+
2,200,000
+
+
368,500,000
7,200,000
8,600,000
Re1easeci for publication F'ric'iay morning, December 5, 19,~4.
RESOURCES A~ID LIABIJ.I'T'HS
OF THE '1TET.-VE FEDERAl- BESJ'~P.V.'i2 BAlTf{S CO:.ffiiNED
(In thousanc1 s of c1 cl1:1rs)
Dac. 3, 1924
Nov. 26, 1924
Dec. 5, 1923
R E S 0 U P. C E S
1,905, 730
45,783
1,926, 215
42,136
2, 0551625
56,009
1,951,518
588,036
488,376
1,968,35i
2,111,634
591,026
486,873
647,658
358,847
3,027,930
3,046,250
89,963
87' 701
3,118,139
79,516
3,117,893
40,023
3,133,951
3,197,655
34,307
68,460
124,656
124,272
96,204
125,201
359,093
387,170
248,928
354,606
221,405
746,263
281,001
298,370
44,785
390,876
139,282
44,320
390,079
147,816
18,612
51,772
20,911
57+,943
582,215
91,295
6,000
2., 050
2,550
154
1,087,171
1, 136,082
66},892
61,555
27' 299
615,240
61,553
27' 363
28
643,289
56,715
14,602
5,097,189
4,959,585
5,116,831
L I A. B I L I T I E S
F. R. notes in actual circulation
1, 849,006
1,845,308
F. F. Bank notes in circulation - net
Deposi+s:
Member bank - reserve account
Government
Other oepos its . .
2,252,598
489
2, 252,475
22,911
30,007
2, 148,137
26,723
27,856
1' 884,010
30,065
21,429
2,305,393
595,581
112,159
22C,915
14,135
2,202,716
1,935,504
564,340
112,169
220,915
14,137
574, 347
110,ll4
218' 369
25,410
5,097,189
4,959,585
5,116,831
Golc1 with Fe0eral :reserve agents.
.
Gold redemption fund with U.S.Treasury •
Gold held exclusively against F.R.notes
Golc1 settlement fum'l with F. R. Boa.,..d
Golc'l and golc'l certificates held by banks
!_9._~_gold
reserves • .
Reserves other than gold
Total reserves •
Non-reserve cash . .
.
Bills c'liscounted:
Sec. by U. S. Government obligations
Other bills discounted •
Total bills c'liscounteo
Bills bought in open market
U. S. Government securities:
Bonci s • • • •
Treasury notes
. . .
Certificates of inciebtedness
Total U.S. Government securities
Foreign loans on golc'l •
. •
All other earning assets
Total earning assets
5% Reciernption fund - F. R. Bank notes
Uncollectecl i terns .
. •
Bank premises • .
All othe.,.. :resources . • •
IJ"O'J'AT. RESOURCES
Total c1 epos its
De ferreil avail abi 1 i ty it ems
Capita1 paid in • • •
Surplus .
• • .
.
All other 1 iabil it ies
...
TOTAL LtABII:rrrrES .
Patio of total reserves to c'leposit arul
F. R. n·ote liabilities ccmbinec1 ••
~ontingent
liability on bills purchasec'l for foreign correspomients •
c.
1,186,527
---
75.1%
77.4%
76. l.j.f:.
31,229
27,179
18,373
..
publi~ation
-
Friday mo~ing, December-5, 1924; not earlier.
'SESOUFCES AND LIABUITIES OF TEE F~DEPAJ. PESEPVE BANKS AT CT.OSE OF BUS T1~SS, DECE'.1BE'? 3, 1924.
FE S 0 UR CE S
(In thcusanns of C!o1lars)
Boston N<3W York Phila.
Fenaral Reserve Bank of
Cleva.
tich. Atlanta Chicago St.Louis Minn. Kans.Cy.
1oln with Fenera1 Reserve Agents
519,582 165,360 200,903 73,441 129,979 191,038 56,156 72,364 62,056
177 '927
Gold redemption funn with U.S.Treas. 12,732
2,888 1,688
7,152 6,835
1, 772
1,908
2,861
3,690
589
Gold helc1 exlusive1y against
F. R. niltes
190,659 526,734 172,195 203,791 75,129 131,751 192,946 591017 72,953 65,746
Gold settlarnent funii with F.R.Board 25,885
172,709 40,839 54,015 39,786 16,835 106,884 25,055 18' 523 35,919
4,417
249,630 27' 675 22,713 17 '963
86,058 9,144
5,687
Gold and golc'l certif. held by banks 20,926
8,079
----------·
bcllaasan for
Total gold reserves
Reserves other than gold
'fo~~~~
Non-reserve cash
'Btlls 0 isccunteo:
Securen by U.S.Govt. obligations
f:tber bills c'l iscountec1
Total bills discounted
Bill~ bought in open market
U. S. Government securities:
Eq.ril s
'7',.easury notes
~ert i ficates of inc1e btenness
•
Total U.S.Govt. securities
Fo~ign loans on gold
All other aa rning assets
Total earning assets
l.Jn.cd.lecten items:
Bar~ premises
All other resources
,.
TOTAl- FESOUPCES
Digitized
h.for FRASER
237,470
9,623
247,093
3,34~
7 I 32i
8,144
15,46;
53,012
949,073 24o,709 280,519 132,878 156,665 385,888 93,216 97' 163
6,666
4,143
1,404
7,581
10,827 11·, 395
19,652 4,364
968,725 245,073 287,185 137,021 164,246 396,715 104,611 98,567
12,941
1,263
3,090 1,833
5,123
2,347
3,532
567
49,544 15,149
9,661
6,373
59,205 21,522
123,732 20,429
15,067 5, 678
12,854' 19,276
27' 921 24,954
31,267
1,408
21,546
22,954
8, 825
21,655 4,114
8,4 76
20,371
42,026 12, 590
27,396 14,678
600
4,902
5,ll5 1,191 1, 536 15,807
749
2,750 1, 456
51,980 12,442
134,123 25,200 37,684
13,247 31232
948
43,508
5,085 20,734
939
4,880
3, 940
182,533 31 '034 63,533
86' 034 16,274
702
342
264
894
294
1, 746
582
1,550
---....-106,271
367,216 75' 117 123 '423 30,176 35,983 156,350 4 3, 836
156,807 64,759 52,133 58,133 28,831
57,809
77' 755 35,066
8,264 3,026
1,112 9,-129
2,528
2,875
4,312
17 '434
10,801
1,089
183
286
234
1,932
386
20C
1, 03C
26, 21C
10, 55C
37,79)
419,029 1,533,924 387,710 475,246 229,925 237,399 645,296
St. 4344b
Dallas San Fran. To+a1
42,808 214,116 1,905,730
45,788
1' 730 1,943
44,538 216' 059 1,951,518
588,036
12' 974 38' 612
8,492 27' 592 · -438,376
----66,004
282,263
3,027,930
106' 082
8,420
2,906
2,982
---~9 '963
108,988 74,424 285,245 3,117,893
1,841
1,345
40,023
2, 797
122 1,092
566
2,934
4,571
4,902
2,272 5,828
4,693
2,838 8,762
5,994
368 13,734 20,458 40, 707
124,656
124,272
248,928
354,606
l, 124
1,975
19,033 41,212
6,186 16 '475
27,194 53,811
228
456
44,785
390, 87 6
139,282
574,943
6,000
2,050
1,186,527
663,392
61,555
27' 299
8,063
2,693
14,699 24,087
8,842
4,536
27,298 35,622
216
276
500
32,575 56,126
16,4 73 42,607
3,168
4,597
839
3,891
.50, 718 108,736
32,570 40,949
1,912 3,198
3,094 4,364
189,069 155,241 214,998 164,063 445,289 5,097,189
£,.;;;.i.c,a:;,;:;0
St. 4.}-+i..i-c
for pllblic3.tion FriCiay n:orning, December 5, 19.24j not earlia:r.
PESOUFCES A~ID t.IABTII'T'IES OF THE FEDERAL RESEFVE BA~,JKS AT CLOSE OF B:JSIN'ESS, DECE!VGEB
3, 1924.
L I A B I L I T I E S
Boston
Fe~eral Reserve Bank of
F. R. notes in actual ci:rculaticn 200,152
(In thousan0s of dollars)
Yo:rk Phil a. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans. Cy. Dallas San Fran. Total
381,021 164,955 205,000 86,076 139,618 199,230 57,199 72,662 72,?)1 57',66::.. 212,841 1,849,006
New
Deposits:
~rr.be:r
bank - :reserve account
Government
Othe:r clepos its
136,346
1,371
93
913,432 133,230 179,871 69,404
2,1+94.
4,420
474
1, 796
1,170
125
19,532
349
68,085
1,646
659
59' 005 160, 147 2,252,475
1,524
1,525
22; 911
21C
4,91+5
30,007
138,310
937,384 135,375 163,535 70,003 62,063 327,090 78,781 55,106 90,390
122, 91~0 56,1..!·40 49,041 55,383 20,804 71,635 37,396 15,310 37,555
'1..'"1 br;6
.,.,,.,.,
10,518 12~ 757
4,341
5,1bl
5,895
4,579 15)133
3, 2£7
7,484
9,496
59,S29 19,9?.7 2),691 11,672 e-,950 30,426 10,072
2, !;!~4
l,Ll2
g96
460
1,222
1,n2
1,385
625
495
60,739 166,617 2,305,393
32,138 41,185
595,581
4,132
8,140
112,159
220,915
7,577 15,301
1,816
1,205
14,135
..
Total c1 epos its
DeferreCI availability items
Capi .. a1.. pa..iCI in
Su 7'1J u c
All othe:r liabilities
TOTAL TJIABHITIES
Ratio of total :reserves to c1 eposi t
. an~l F. F.. n~te liabilities
ccnibined, per cent
Contin~ent liability on bills
pu:rcbasecl fo:r foreign
correspondents
55,754
7,St~
16,3'-90
443
60,251 323,622 75,403
1,686
2,276
2,179
1,102
126
1,269
----·-----·-------------------
~
.~
'
-·
419,029 1,533,924 387,710 475,246 229,925 237,399 645,296 139,069 155,241 214,998 164,063 445,289 5,097,189
73.0
73·5
9,088
81.6
3,029
73·9
3;654
31.4
87.8
1,780
1,374
75·4
4,653
FEm'FAT, :RFSE'RVE NOTES OU'fSTAND TNG
224,064 604,363 203,387
F. B. notes outstanding
23,912 22),347 38,432
F. R. notes held qy banks
F. R. notes in actual circulation 200,152 381,021 164,955
DIST:RIJ3UriON OF
---"~---'
Within 15 clays
]3 ills
cl i sc aunt eel
Bills bought in open rna:rket
Certificates of inelebteclness
c.
53,179
1,520
407
170,178
107,856
53,346
t,},TD
76·9
1,530
77·1
1,124
66.9
1,437
62.9
75.2
1,187
2,373
75.1
31,229
IN ACTTJAJJ CIPCTITJA'J'I ON
228;846 93,075 156,573 215,152 64,716
23,846
6,999
16,955 15,922 7,517
205,000 86,076 139)618 199,230 57:199
75:421 80,320 63,694 253,280 2,262,896
2,759
7,729
6,033 40:439
41..3,890
72,662 72,591 57,661 212,841 1,849,006
BILLS AND U. s. CERTIFICATES OF INDEBTEDNESS BY MATURITIES
16 to 30 clays
23,750
58,458
31 to 60 clays
28,674
96,668
61 to 90 clays
17,018
78,322
From 91 clays
to 6 months
8,785
13,302
23,265
Over
6 months
523
62,671
Total
248,928
354,.606.
139,232
!
I
Ealeasa0 fo,.. publication Fl"iCiay mol"ning, Decen:be,.. 5, 1924; not earl ie,..~
FEDERAT, RESERVE AGENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, DECEMBER
l2
4)44cr
3, 1924:...
(In thousancls cf dollar$)
~
~:·
st.~
Fe~e:ral
Boston
Reserve Agent at
New York
Phil a ..
Cleve.
Rich. Atlanta Chicago St.J,ouis Mirm. Kans.Cy. Dallas. SC!ll. Jt-ran. Total
BE S 0 UR CE S
Federal Rasa,..ve notes on hand
.F.adc:n:·al Reserve notes outstanding
Collater-al secu,..i ty for Fa0era.l
Resdl"Va notes outstanaing:
Gold and gold certificates
Gold reCI emption fund
GolCI funcl - F. B. Boa-r<'l·
Eligible paper Amount required
Excess amount held
63,350
22_4,064
35,3~0
14,6.!7
128,000
<•
46,157
22,344
274~380 44,320 51,.670 z;J,065 65,345 244 '720 24,800 14,,884 26,05J: 17 -002" ' 66. 700. -922, 73g··
" 253,280
'
604,3-68 203,.3S7 228.846 93. 075-_156, ~73 215,152 64,716 75,.421 80,320 . 63,694
2,262,896
.
6,400 8, 780
188,531
30,051 10,571 12,123 2,646
301,000 148,389 180,000 70,795
84,786
76,506
3,500
7,.479
llg,_ooo
8,985 13,052
14,556
279,104
1,312 3,696 3, 752 17,806 113,627
5,393 4,171
185,.645 43,_000 58,000 58,.360 24,.500 196,310 1, 512899
38,027 Z{,943 19,634 26,594 24,114. 8,560
875 25'"784 5,240 5,060 45,128 18,690
3,057 18,264
1,053 1,416
20,836 39,164
2,168 .10,190
357,166
214,_~_!±
533,822 1,560,122 451,969 535,146 220,455 383,551 7.20,152 172,922 166,779 188,109 !46,558 583,!+50 5,663,.035
Ff'QTAL
L I ABI L I T I E S
Net amount of FeCI eral Reserve notes
-recaiveCI from Comptroller
of the CU1"1"8ncy
Collateral :received from
Feoe,..a1 ,..ese,..ve bank:
Go10
Eligible pape,..
'T'OTAL
c.
89~516
287,414
879,248 247,707 280,516122,140 221,918 459,872.c
90,305 106,3.73 80.696 319,980 3,185,685
177,927
68,481
519,582 165,360 200,903 73,441 129,979 191,038 56-,156 72,:364 62,056 42,608 214,116 1,905,730
161,z;J2 38,902 53,727 24,874 31,654 69,242 27,250 4,110 19,680 23,054 49,354 571,620
533,8221,560,122 451,969 535,146 220,455 383,551 120,152112,922166,779 188,109 146,558 5e3,450 5,663,035
@FedFRASER