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STATEMENT FOR TFE PREf,S
St. 3919
Federal Reserve Board,
January 31, 1924.
Released for publication
Friday morning, Feb. 1;
not earlier.
CONDITION OF FEDERAL RESERVE BANKS
Further declines in Federnl reserve note circulation and in total earning
nssets, amounting to $27,300,000 and $22 1 800,000 1 respectively, nlso decreases of
$8,700,000 in cash reserves and of $27,200,000 in deposit liabilities, are·shown in
the Federal Reser7e Board's weekly consolidated statement of condition of the
Fe~eral reserve banks at close of business January 30, 1924. The reserve ratio rose
from SO. 4 to S 1. 3 per cent.
Holdings of bills dis counted declined by $18,500,000 during the week, the New
York bank showing a reduct ion of $20,400,000, and Cleveland and Atlanta declines of
$4,500,000 and $4,300,000, respectively. An increase of $11, 100,000 in dis counted
bills is shown for Boston, of $4,300,000 for San Francisco, and of $3,700,000 for
Philadelphia. Paper secured by U. s. Government obligations declined during the
week from $272,900,000 to $259,300,000. Of the latter total, $147,900,000 was secured by Liberty and other tJ. s. bonds, $101,6oo,ooo by Treasury notes, and
$9,.800,000 by certificates of indebtedness.
Acceptances purchased in open market show a reduction of $4,200,000 and Government security holdings - a. nominal decrease of $100,000. The New York bank reports
an increase of $10,900,000 in holdings of acceptances, but 'this was mbre th:>.n offset
by substantial decreases shown for Chicago, San Francisco, Cleveland and Phili.delphia.
Declines in Federal reserve note circulation are reported by all Federal reserve
banks, except Phil~delphia, which reports m1 increase of $1, 6oo,ooo, the first in...
crease in Federal reserve note circulation reported since the statement of December
26 last year. The Chicago bank shows a reduction of $9,000,000 in its note circulation, New York- a reduction of $5,900,000, and San Francisco a reduction of
$5,000, ooo.
Gold reserves declined by $8,900,000 during the week, reserves other than gold
increased by $300,000, and non-reserve cash declined by $3,700,000.
A surrmary of chmges in the principal assets and liabilities of the resene
banks during the week and the year ending January 30, 1924, follows:
Increase or decrease during
Total reserves
Gold reserves
...
..
'
Total earning assets .
. , ..
Bills discounted, total • . . .
. . . .
Secured by U. s. Government o'bligations
Other bills discounted • • .
- $ 8,700,000 + $ 35,800,000
S,9CO,OOO +
66,900,000
22,800,000
224,700,000
18,500,000
74,900,000
13,700,000
118 1 2001 000
4,800,000 +
43,}JO,OOO
-
Bills bought in open market
U, S, Government securities, total •
Bonds • . " • , .. , . • .. . .
4' 200,000
.
.
Treasury notes • • • • . . •
Certificates of indebtedness . •
+
+
Federal Reserve notes in circulaticn
Total deposits • • • . . .
Members 1 reserve deposits
Government deposits ••
Other deposits • • • . •
.,
c.
100,000
1,400,000
900,000
4C0,000
-
-
83,200,000
2331 0001000
11,300,000
55,700,000
166,000,000
-
181,200,000
27,200,000
7,200,000 +
20,200,000 200,000
+
14,200,000
5,100,000
91100,000
27,3CO, 000
...
+
-
Released for :publication Friday morning, February l, 1924.
OF THE
St. 3919a
RESOURCES AND LIABILITIES
FEDERAL, RESERVE BANKS COMBINED
. (In thousands of doll<:.rs)
~~ 30, 1924 Jan. 23, 192~ Jan. 31,192,1
T"~SET.NE
RESOURCES
Gold with Federal reser·Je agents • • . • .
Gold redemption fund with U. S. Tre.:.sury •
Q:_ol_l)__ h_e.J,d exclusively against F.R.notes
2,174,677
2,127,175
50,931
2,178,106
2,103,477
_52, 63g
2,156,109
_---.:...u.,
47 ____
573,226
oG6
2,221, 7l~3
Gold and gold cert ific,::.tes held 1Jy banks
__221,3678~/
537,327
408,226
561,403
292,664
Total _gold reserves . •
Reserves other than gold , • • •
3, 142-;--tl-Tl.t;J 3, 151,662
3,075,810
Gold settlement fund with F • R. Board
• ,
• • • •
• • • •
Total reserves •
Non-reserve cash . .
..
Bills discounted:
Secured by U, S. Gc.·ernment obligations •
Other bills discounted • • , • • • • •
..
.
..
Total bills discou.ntad
Bills bought in open m~1.rket • • •
U. S. Government securities:
Bonds . • • .
. . . . . ,
Treasury notes • • • • • •
Certificates of indebtedness
..
...
.. .
Total U. S. Go1ernment securities
MUnicipal warrants
a
,..
..
•
,.
'
Total earning assets • •
5% Redemption fund - F. R. B~k
Uncollected items •
, • • •
Bank premises • • • • •
All other resaurces • •
TOTAL RESOURCES • • .
•
. • . •
notes •
, •
• • . .
.. .
.,
}9411.7~C
120,
--3,262,911
119,923
----3,271,585
59,661
63,331
259,280
263,027
272,927
267,851
219,769
522,307
540,773
597,251
271' 792
275,997
183,566
18 '554
77,355
~m
1201772
20,014
76,455
24,457
29,898
*133,054
_!.90,78J.
353,735
10
120; 926
10
914,831
28
531,163
54,594
19,027
9371711
28
591,436
54,578
17,120
1,139, 552
311
530,431
46,471
15,180
4,842,265
---5,013,540
4,935, 7G9
2,022,514
434
2,049,834
439
2, 203,701
3,105
1, 927,714
40,941
22,430
1,934,949
1,913,~~65
61,134
46,014
22,163.
31,583
1,991,085
484,338 •
110,043'
220,915
12,93~
2,013,296
1, 991,0G2
523,511
110,035
220,915
12, 759
479,551
107,703
~,049
4, 842,265
4, 935,789
5,013,540
16,843
17' 010
34,390
151,322
3,227,132
54,463,
377,4E:~:
LI ABI DI TI ES
F. R. notes in actual circulation • , •
F. R. Bank notes in circulation - nat ,
Deposits:
Member bank - reser'ie account ••
Government • • • . . •
Other deposits •• , •.
. . .. . .
Total deposits • • .
Deferred availability
Capital paid. in • • .
Surplus , . . . . .. .
All other liabilities
. ..
items ,
•
. . .
••••
.
..
.
• , ••••
. . , .
. . . .
,
TOTAL LIABILITIES • • •
...
218,369
Ratio of total reserves to deposit and
F. R. note liabilities combined • • • •
Contingent liability on bills purci1ased
for foreign correspondents • • • • . . •
c.
*Incluoing Victory notes.
Released f.:>r publication on Friday Lcrr~~- :, '5c cru.ary 1, 1924; not aarlier.
St. 3919b.
RESOU?C~S JUID LIABILITIES OF THE FEDERAL ltESERVE :BANKS Af3 AT CLOSE OF BUSUi'ESS, JANUARY )0, 1924.
{In thouscmds of j olL,rs)
~
f
.
r
RESOURCES
Cleve. Rich. Atlanta
3oston New York Phil a.
Federal Reserve Bank of
643,310 168,511 198,334 63,052 93,287
176,168
GoV with FeJeral Peser·.re ~ents
3,6o8
1,946
4!635
GoV redemption fund wit:1 U.S.Tre:;.s •
6,547
7 !690
5,937
Gold heLl exclusi <te1;.y :::tgainst
'"_ F. R. notes
. Go1J settlement fund with7F.R._.3oard
tfou and i:!:old cert if .A held by banks
Total P;;olj reserves
I)aser -es other than go1i
Tot.:U reserves
Non-reser7e cash
Bills JiscQUlted:
Sec. by u. SA G07t. ob1 igat ions
Other bills discounted
Total oi11s discounted
Bills bousht in open m~rket
u,. S. Go7e:rnment securities:
. Bonds
Tre.·-..sury notes
Certificates of indebtedness
Total U. S4 Gmrt .. securities
182,715
57,991
21,136
2fil,842
- e,953
270,800
3,968
19' 613
17,314
651,000 174,,443 200,830
107,830 24,549 95,530
204,677 36,669 13,050
963,507 235,666 309,710
:22,206
5,567 11,772
995.713 241,233 321,482
13,046
1,990
4,195
91,002 32,493
14,244 10,840
36,927
27 ,0_38
105,246
544
5,947
2,005
1,202
6,303
6,058
s,496
14,063
50, 6o3
67,687 96,895
39,320 12,414
6,802
7,292
114,309 116,601
4,524 9,900
118,833 126,501
6,942
3,149
17,201 19,;_E.G
14,231 26, CJ37
5% Redemption Fund - F.R.Bar..k notes
Uncollected itens
Bank premises
All other resources
TOTAL
c.
2zJ11
St.Louis Mim .. Kans .Cy. D:;.1l~"\.S s.~n .Fr;w.. Total
66,624 55,082 48,734 20,294 208,835 2,127,175
4,066
1, 750 ~5. 122
50,9jl
2, 782
3_, 5:27
~dO'(
337,655 70,161
105,174 24,143
4,736
49,972
542,601 99,040
14,856 13,785
557,657 112,825
4,842
9,308
11,173
34,614
24,196
35,253
59,449 39' 179
746
34,514
13,949
25,230
43,333 31,432
30,032 41,415
45,525
45,78 7
2,313
11,740
9l.8
Il,514
3,523
1,191
1,183
920
251
1,213
1,077
4,426
6,323
3, 776
882
21,423 15,955
3,294
2,541
14,530
747
18,859
1,817
Municipal warrants
Total earning-assets
Chicago
384,344
57,864 52,800
16,881 43,474
9,042
3,279
83,787 99,553
1,408
5,323
85,195 104,876
[Bo
3,044
22,044 214,007 2,178 ,1cb
9,336
12,162
43,542
6
2
35,78
573,~f~
2 '
74.l"391,
272,~3,14&,~i:7
't,
II
50,434 277~362 3,262,911
59,661
3,841 , 4, 646
~~"7
19,270
34,406
259,280
263,027
16,213 36,197
9,343 53,676
2,391
75 42,427 27,948
522,307
271,792
1,372
14,341
7,875
28,222
1, 708
7,635
332
6,9S7
1,290
5,231
785
7,194
930
626
914
11,478
2,042
18,584
77,355
24,8i33
1,667
3,750
8,609
7,924
13,520
120.772
1, 779
10
3f, ,802
72,461
1(:)9, 912
48,168
4,313
128
111,380 48,020 49,748 48, 6o1
13,641
1,111
2,528
9,CI37
2,011
262
411
309
94;838
51,132
60,078
25,684
2,6i9
447
399,838 1,306,203 387,454 473,633 224,654 222,331
"15"
10
108,493
67,328
8,264
343
41,592
27,854
28,429 11,220
1,410 2,272
4, 734
175
59' 694
95,144
914,881
28
23,881
31,676
1,911
4,595
626
5,420
36,528
2, 773
4,161
531,163
54,594
19,027
44,831
28
751,393 189,273 131,965 189,698 145,209 420,614 4,842,265
r····.
j
k
9'
}4ZL
.
Q
- ~ .•~
•.
• ;;::
r:.
~-:Released
·
•
tf
tr·.
for publieation Friday nJOrning, February 1, 1924; not earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL BESERVE BANKS
: Federal Reserve Bank o~
iJ'.R. notes in actual ~ir~ulation
1F.R.Bank notes in circulation- net
t .u::l)O
n....·
•t
SJ.
i'!eraber bank"! - reserve account
t
f
Other deposits
Govex·nmen t
Total d epo sits
Chil~ago
JANUARY 30, 1924.
St.Louis Minn. Kans. Cy. Dallas San Fran. Total
199,937
383,563 192,606 219,341 89,430 1}0,584 362,642 70,468 61,920 62,753 46,086 203,184 2,022,514
434
434
125,681
2,576
16o
722,689 115,700 165,693
Ll-,?.65 4,370 5,204
280
11,766
974
737,720 120,350 171,871
93,504 44,216 45,324
29,454 9,941 12,338
59,929 19,927 23,691
lu4 1,068
2,033
1~8,417
46,886
7,901
16.390
307
TOTAL LIABILlTIES
399,838
~·
CLOSE OF EUSI NESS
L I ABI L r·T-I ES
(In thousands of dollars)
Boston New York Phila. Cleve. Bic.h. Atlanta
f; Deferred avai lability items
paid in
t Surplus
fAll other liabilities
f Capi "val
1
AT
.
S•
[
''
~:
St. 3919t~
Ratio of total reserves to deposit
and F. R~ note liabilities
C'.Ombined, per cent
82.5
67,146 55,466 279,011
4,137 3,569 2,788
122
141 1,977
71,405 59 176 283 '776
45,642 18,018 58,129
5.-791 4,430 15,046
11,672 8,950 30,426
. 714 1,173 :t,374
71,139
2,975
803
•74,917
28,232
5,011
10,072
573
1,306,203 387,454 473.633 224,654 222,331 751,393 189,273
88.8
77 .. 1
t
82.2
66.7
86.3
77 .. 6
44,759 77 ,14o 57 ,287 147 ,003 1 9271 711+
1,442 2,576 2,402 4,637
4o,941
4so
327 4,805
22~430
595
46,681 80,311 60,016 156,445 1,991,085
11,235 31,950 25,006 36,196 484,338
3,494 4,532 4,215 7,890 110,043
7,484 9,496 7,577 15,301 220,915
1,151
12,936
656 1,875 1,598
131,965189,698 145,209 420,614 4,842,265
t
78.. 4
Contingent liability on bills
purchased for foreign
~orrespondents
885
748
578
17.1
73-3
731
612
i,208
81.3
16,843
OUTSTANDING AND IN ACTUAL CIRCULATION
219,355 704,594 231,038 246,726 101,766 146,020 420,327 86,398 67,588 73,478 50,045 257,909 2,6o5,244
19,418 321,031 38,432 27,385 12•336 15,436 57,685 15,930 5,668 10,725 3,959 54,1.25 582,730
199,937 383,563 192,6o6 219,341 89,430 1}0,584 362,642 70,468 61,920 62,753 46,086 203,184 2,022,514
DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND lmiCIPAL WAHRANTS BY MATURITIES
From 91 days
Total
Within 15 days
16 to 30 days 31 to 6o days 61 to 90 days
to 6 months
Over 6 months
25,669
2,290
341,181
44,-481
. 522,307
4o,764
67 ,922
2,652
103,186
271.792
31,278
62,372
72,304
24 8 7 3
3,034
10,915
120
120
10,644
10
lO
FEDERAL llESERVE IDTES
F. R. notes outstanding
F. R. notes held by banks
F. R. notes in actual circulation
· Bills discounted
, 'Bills bought in open market
: U. S. Certifi~ates of indebtedness
. ;Munic.ipal warrants
. w.
"
.
..)
14_.,
3t.
for pub1 ici.l.tion Frid::zy morning, February 1, 1924, not earlier •
Jj 19d.
.FEDERAL RESERVE AGENTS 1 ACCOUNTS AT CLOSE OF BUSINESS, JANUARY 30, 1924.
(In thousands of dollars)
Cle7e. Rich. Atlanta
Boston New York Phila.
Federal Reserve Agent at
RESOURCES
28 2, o6o 53, 640 6 3, 9 10 37,145 73,687
!Federal Reserre notes on hand
99,700
704,594 231,038 246,726 101,766 146,020
poedera1 Reser7e notes outstanding 219,355
~ollater~l security for Fe]eral
i
Reser-re notes outs tanS ing:
f
2,400
8,780
35,300
235,531 14,000
Gold and ;old certific:ites
f''
12
622
,
6,387
7,863
13,104
2,
757
fund
redemption
GoB
31'
779
I
..,..
376,000 141,289 177' 000 60,235 ~4,000
133,000
.r. R. 3.o-~rd
i.
Gold fund
Eligible paper 61,234 62,527 47,842 33' 714 52, 733
43,15 7
.A.?.cunt required
4,56,2
20,773
3!216 24!52~
Excess arr:ount heLl
7!311
73 !~~2
-
I
TOTAL
Gold
Eligible paper
TOTAL
c.
149,500
420,327
St. Louis Minn. K2.lls. Cy.
Dallas Sm Fran.
Total
24,300
86,398
12,945
67,588
33,033
73,473
31,102 72,320
943,402
50,045 257,909 2,605,244
u, 130
13,052
1,030
41,000
4,374
44,360
7,391
327' 534
3,403 19 ,025
114,542
9,500 139,860 1,635,049
12,506
5,155
24,744
11,232
7 J!39
376,645
3.994
51,500
35,933
57,8~6
19,774
1~,~10
29,751
21,371
49,024
31,920
1_qs,o6g
236,363
559,180 1, T/0,240 523,932 531,961 247,988 375, C)O 1,047,930 217,006 153,276 191.271 152,563 620,058 6,440, 753
Net amount of Feder.-::.1 Res~r :e notes
recai7eJ from Comptroller of the Currency
319,055
.Col12.ter;).l recei7ad from
Fejer.':l.l Reser';e Bank:
C~1icago
176,1~8
b},9b5
.
986,654 239,673 310,696 1}6,911 224,707
569,827 110,698
80,533 106,511
&1,147 330,229 3,543,646
643,310 168,511 198,884
140,276 65,743 72,3~1
}34,344
93,809
55,032
17,ob1
20,294 208,&5 2,127,175
)1,122 80,944
764,932
63,052
46,025
93,237
57,296
u6,624
39,684
--~~~----~~--~~~~~~----~~~~~----~~~~~-
4£,734
36,026
~59,183 1, T70,240 523,932 581,961 247,933 375.290 1,047,930 217,006 153,276 191,271 152,563 620,053 6,440, 753
@FedFRASER