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STATEMENT FOH THE PEZSS, Released for publication Sunday morning, Feb.22, I32C: not earlier. St.945 Federal Reserve Board February 21, 1920. CONDITION OF FEDERAL RESERVE BANKS. Continued increases in discount operations and Federal Reserve note issues, accompanied by substantial reductions in gold and cash reserves and a slight decrease in net deposits are indicated by the Federal Reserve Board's weekly bank statement issued as at close of business on February 20* 1$20. .v'ar paper on hand at the several Reserve banks shows an increase for the week of 55,5 millions and other discounts - an increase of 9.5 millions. On tne o the .r^ hand holdings of acceptances purchased in the open market show a decline of 10.$ millions, while those of Treasury certificates, largely as the result of 1edemption by *he Government of the special temporary certificates outstanding, decreased 21,7 millions, Total earning assets increased during the week by about 3c_%$ millions, Of the total of 1,525*2 millions of war paper held, 706-9 millions or 4b.3 per cent were secured by Liberty bonds; 2^4,g millions, or 16.1 per cent . y ictory notes, and 573-5 millions, or 3 f«6 per cent by Treasury certificates as against 44.$, lo,l and 39 per cent of a total of 1,^6$.6 millions of war paper reported the week befor:. T- Discounted paper held by the Cleveland, Atlanta, Chicago, Minneapolis. Kansas City and Dallas banks includes 93.9 millions of bills discounted for the -^w + 01^, and Philadelphia banks, as against 97*7 millions the week before, while acceptance holdings of the Boston, Cleveland., Atlanta, Chicago, Kansas City and , an 1rancisco banks are inclusive of 30.4 millions purchased from the New York and Boston banks, as against 3S-9 millions shown-thd -previous week. Government deposits show an increase for the weak of 51,4 millions, while cambers' reserve deposits declined about 9 millions, and other deposits, including foreign government credits - l.J millions. On the other hand the "float" the Federal -reserve banks (treated as a deduction from gross depooito) iiivreassd 42.2 millions, with the result that net deposits work out at 1-5 -millions less than the week Dei'ore. federal .Reserve notes in circulation increased about 18 millions, while the banks' aggregate liabilities on Federal --3serve bank notes in circulation declined about 5 millions. Withdrawals of gold for export largely account for decreases cf IS.6 millions in gold reserves and cf 17-1 millions in total cash reserves. As a result of the above changes the banks' reserve ratio shows a decline for the week from 43-2 to 42.7 per°cent. Increases in capitalization of existing members and admission of new members in the Philadelphia, Cleveland and Fdehmond districts, account largely for an increase of $S57>000 in paid-in capital. Released, for publication Sunday morning, February 22, 1920; not earlier. St»$45a COMBINED RESOURCES AND "LIABILITIES OF TEE TWELVE FEDERAL RESERVE BANKS. February 20, 1920 February 13, 1920 February 20, 1919 R E S O U R C E S ^ Gold and gold certificates $ 200,973,000 $202,425,000 ^350,417,000 Gold settlement fund, F.R. Board 386,132,000 424,S32,000 457,^29,000 Gold with foreign agencies 112,822,000 112, 222, 000 _—5- 220^000 Total gold held by banks 709>933>000 7^0,079,000 S14,xj^,000 Gold with Federal Reserve Agents 1,150,792,000 1,121,757>000 1,197,923,000 Gold redemption fund 109,023,000 12o, 544,000 112,,9-33000 Total gold reserves $ 1,969>214,000 $l,9#2,3^0,u00 2, ±2.3? v41,000 Legal tender notes, silver, etc. 65,626,000 &4,1^,000 jS6^49^000 Total reserves 2,035>440,000 2,052, 513>000 2,191)3^2,000 ^ , (Secured by Government war obligations 1,525*203,000 1,469,562,000 1,596,453,000 Bills discounted ^^her 833,321,000 223,873,000 221,996,000 Bills bought in open market 531*703,000 542,600,000 —269,9^0,000 To+al bills on hand 2,890,227>000 2,636,033>000 2,Go2,3/4,000U, S* Government bonds 26,775> 000 26,775>000 2o>095>000 U. S. Victory notes 63>000 63,000 II. S* certificates of indebtedness 268,blO,000 2^0,31/,00u 147,^3,0^0 All other earning assets — ~ " Total earning assets 3*125,675,000 3,153,190,000 2,2^3>5^->00w 11,144,000 11,103,000 2*969,000 Bank premises , , c ~r Uncollected items and other deductions from gross deposits 1,029,653,000 1,052,333,000 633,20b,000 5/d Redemption fund against F.R. ba,nk notes 12,724,000 12,11^,000 6,^09,000 3,851,000 4,122,000 2,480,000 All other resources 6,278,487,000 6,285,375,000 5,113,192:600 TOTAL RESOURCES Government deposits Due to members - Reserve account Deferred availrtility items Other deposits, including foreign government credits Total gross deposits " ?. E. notes in actual circulation F. R. bark notes in circulation - net liability All other liabilities TOTAL LIABILITIES Ratio of total reserves to net deposit and F.R. note liabilities combined Ratio of sold reserves to F.R. notes in circulation after setting'aside y$> against net deposit liabilities 75,527,000 1,828,891>000 815,606,000 95,3^6,000 2,815,450,000 2,977,124,000 240,858,000 34,404,000 5,278,427,000 42.7% ,. 47.4$ 24,21<d,000 1>S37$2o5>000 SSO.U5i.OOO 97,044,000 2,839,578,000 2,959,087,000 245,810,000 , .jHg6-??? 205,67^*^00 1>5^3*912,000 ^0,257,000 —114,750,000 2,364,602,000 2,466,248,000 Ip3,^o5,000 . 43.2f0 52.2^ 6,255,375.000 5,113,192,000 ' hr ^ 4o 2/b ' fill W iioa-ned :C<« publication Sunday morning, iVbroary 22, 1S)20, not oilier. St.945t RESOURCES AND L:LABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OE BUSINESS FEBRUARY 20, 1920. R E S O U R C E S (In thousands of dollars.) Federal Reserve Bank: of Boston New York Phila. Clsvel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran. Total Gold and %old certificates 9,722 112,66s 952 13.31^ 2,319 0,552 24,296 2,796 7,275 353 7,012 11,648 200,97 3 old settlement fund - F.R-Board 42,897 43,078 27,233 4l,044 28,356 21,581 73,988 13,309 20,253 31,865 16,044 30,440 396.. u s Gold with foreign agencies 8,236 4l,406 9,026 9,252 5,528 4,061 13,426 5,303 3,046 5,415 2,933 5,190 i-c., OC.C Total gold held by banks 66,921 197,152 37,261 63,610 36,203 34,194 111,710 21,408 30,574 37,633 25,989 47,278 . Gold ^vvi th F-R* Agents 88,895 304,712 84,252 123,859 33,350 5 5 , 6 4 3 208,537 58,463 33,668 38,825 31,057 89,507 l, 709,933 150,798 Gold redemption fund JL3L292 24.918 12,451 1,103 9.721 5.-417 17.443 4.76s 142 i.qqi J-i-679 1 1 A 5 6 109.083 Total gold reserves 169,80s 526,752 133,964 188,572 79,304 95,254 337,690 84,639 64,384 80,451 60,725 148,241 1. 960,814 Legal tender notes,silver,etc. 48.620 i4q so? 309 1,735 2,478 3.511 6? 645 -1^9.6 -134. -£L£?£ Total reserves 175,843 575,402 134,113 139,374 79,613 96,979 340,168 88,150 64,446 81,096 61,821 143,435 2, 035,440 Bills discounted:(a) Secured by Government war obligations 100,581 616,710 154,329 112,845 78,271 61,081 175fSI? 49,686 28,473 45,838 50,523 51=351 1,525,303 All other 202,684 45,454 49,635' 26,036 38,157 178,654 52,595 41,699 54,663 17,304 77,417 49,023 833,521 Bills bought in open market (b) _livki7_ -217,314r7y 8 — 4 § — 7 . 5 ^ 0 8 8 — ^ 8 0 2 - ^-012—1-0^-5 1-.-76S—53^-703. W ' 2 5 Total bills on hand 194,415 1,036,70s 206,877 232,091 114,045 116,087 429,257 112,083 73,184 110,816 69;59 5 1 9 ^ 6 3 2,890,227 U. S. Government bonds 1,457 1,385 539 1,235 114 833 4,477 1,153 116 8,868 3,966 2,632 26,775 U* S* Victory notes 10 50 3 , 63 U.S-.certificatesof indebtedness -23 ,584 ^ l f -12^-2.60—1-9 ,-065 -Ucr32.8—]^-r475 8T4so_l5y4-l.l S^OO— °-bS^6lO Total earning assets 216,53s 1,100,386 239,183 256,370 127,540 132,469 474,062 IIO.715 81,780 1%,095 Sl;S6l 208,676 3,185,675 Bank premises 1,117 3,094 500 64l 506 2,116 s6S 563 462 515 231 11,144 533 Uncollected items and other deductions from gross deposits 79,175 234,05s 92,312 87,794 70,459 42,806 129,046 73,675 21,184 83,590 58..704 56,850 2.029,653 5fo Redemption fund against F.R. bank notes 1,072 2,556 1,475 1,095 503 S55 2,079 322 570 970 562 66s 12.724 All other resources 33-9 §4s 2§£ ago 356 13a. §7-5 284—-—63 -232 131 224- - -4r8£L TOTAL RESOURCES 474,084 1,916,444 467,839 535.573 279,034 273,753 948,046 294,012 (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 - 3>250 4,915 5,036 3,455 11,500 40,390 5,087 5,090 168,558 302,451 203,612 415,081 6,278,487 4,274 9,950 22,390 5,050 93,919 3,408 20,263 10,113 Released for publication Sunday morning, February22,, 1920; not earlierRESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE (In thousands of dollars.) L I A B I L I T I E S Boston Now York Phila. Clevel. Eichm. Atlanta Federal Reserve Bank of 7,210 23,796 8,190 9,894 4,540 3,504 Capital paid-in Surplus 45,082 8,805 9,089 2,359 5,820 4,695 Government deposits 2,71s 33,035 2,6lk 6,968 1,516 2,799 Due to members - Reserve account 115.353 707,113 91,309 139,438 60,297 58,952 Deferred availability items 59,440 179,458 83,115 71,473 60,906 38,9^5 Other deposits including foreign government credits 5,497 42,16s 6,796 6.116 3,620 2,766 Total gross deposits 183,008 966,771 183,834 223,995 126,339 103,462 F.R.notes in actual circulation 254,247 817,411 238,059 270,050 129,632 146,262 F.R» bank notes in circulation net liability 19,096 49,09s 26,402 20,289 11,645 14,698 All other liabilities 2,164 -14.226 2^549 2^256 1^052 U1J2 TOTAL LIABILITIES 474,084 1,916,444 467,839 535.573 279,034 273,753 St.945c OF BUSINESS FEBRUARY 20, 1920. Chicago St.Louis Minn. Kans.Cy. 12,637 4,122 3,133 4,047 6,116 Dallas San Fran, Total 3,484 5,974 90,531 14,292 3,724 3,569 3,030 7,539 120,120 4,254 1,685 3,208 2,020 6,578 3,192 75,587 259,363 69,403 50,072 91,6-13 67,171 118,807 1,828,891 104,099 56,872 17,158 72,261 38,452 33,427 815;606 9,741 1,831 2,234 3.665 2.111 6.804 377,457 133,298 71,149 170,747 109,774 165,616 2,815,450 501,228 137,133 82,141 101,563 76,782 222,616 2,977,1: 7,692 37,908 14,515 4Lu524- _1,22jQ_ 18,684 _o7l4_ j u a g k 1,727 11.104 -215- -2+2.3-2 240,858 948,046 294,012 168,558 302,451 203,612 415,081 6,278,487 M E M 0 R A N D A Contingent liability as endorser on Discounted paper rodiscounted with other F. R. banks Bankers' acceptances sold to other F. R. banks 48,100 45,819 93,919 20,263 20,263 FEDERAJj RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F.R. notes outstanding F.S. notes held by bank 262,182 7,9315 = 910,635 249,499 283,846 134,780 151,858 540,602 154,27s 83,274 107,952 79,622 263,261 3,221,789 93,224 11,440 13,796 5,148 5,596 39,374 17,145 1,133 6,389 2.840 40,645 244.665 F,R,notcs in actual circulation 254,247 817,411 238,059 270,050 129,632 146,262 501,228 137,133 82,l4l 101,563 76,782 222,6l6 2,977,124 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF . INDEBTEDNESS BY MATURITIES. Bills discounted Bills bou rht in open market U.S. certificates of indebtedness Within 15 days 16 to 30 days 1,511,016 139,153 5,772 219,421 117,033 11,570 31 to 60 days 425,383 197,367 19,337 6l. to 90 days 188,067 78,150 4,000 Over 90 days 14,637 227,931 Total 2,358,524 531,703 268,610 ^ Bel a as ed for publication Sunday morning, February 22, 1920; nou earner. bt.Zv-4jd FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS FEBRUARY 20, 192u. (in thousands of dollars.) Soften CoSLiicr Eaturned to Comptroller Chargeable to F, R* Agent In hands of F- R* Agent Hew York Phila. Clevel. Rick,. Atlanta Chicago St.Iouis liim. Kans.Cy. Dallas San Fran, total 511,960 2.052,940 532,330 513,cuo 3 0 5 , 3 6 0 3 H , o o o , 9 6 . 4 4 0 3 0 2 , 5 0 0 155,0,0 2 1 0 , 3 2 0 1 4 9 , 7 ® 4 2 2 , 0 0 0 6 , 3 7 2 , 9 0 0 ?1 P, *12 1 - 0 2 ^ 0 5 2 6 5 . 7 4 1 1 9 2 , 9 7 4 299,442 1 , 0 2 9 , 6 3 5 2 7 2 , 6 3 9 3 1 4 , 2 6 6 1 6 1 , 9 7 4 2 0 3 , 1 6 3 556,752 171,85® 17.260 119,000 23.140 31,020 27.194 51,305 lS.l'SO 91.674 1 1 2 , 3 2 2 S*.5CT 272,711 3 , 5 2 0 , 3 6 3 16,9C0__ C . ^ Issued to F.R» "bank less A^ent^for^redemption'^" COLLATERAL SECURITY. FOR OUTSTANDING- NOTES: Gold and silver certificates on hand *old redemption fund 262,122 ^ 14,295 rfq2rerer' „ AI.I0UNT OF ELIGIBLE PAPER DELIVERED TO F. R. AGENT 23,274 107,9)2 1S3,?U0 4,000 13,052 9,393 3,533 1.316 2,965 4,742 13,35% 102,290 76,153 806,760 15,972 - - 2,500 3,119 - - 2,231 - 241>142 3.3SO go,000 30,000 50,ooo 1 9 9 , 1 4 4 50,930 19,300 35.-60 17,454 171.227 605.923 165.247 159,987 101.400 96,215332.065 95,215 4s,6o6 69,127 4 2 , 5 6 5 173,754 2 , 0 7 ^ 9 1 . 262,122 910,635 249,499 2 2 3 , 5 4 6 134,720 151,25= 5^0,602 154.275 5 3 , 2 7 4 107, 952 79.622 2 6 3 , 2 6 1 3 , 2 2 1 , 7 8 9 194,415 1 , 0 3 4 , 8 6 5 121,469 2 2 9 , 7 5 0 110,727 115,654 4 2 9 , 1 6 3 112,023 62,493 110,792 69,595 123,092 2,034,15s te|359 15,363 29,025 7 9 . 6 8 *3,8Sl J.881.7S9 14,234 o . w . » w i r a B t hmd, F . b . E 1 910,635 24 9 ,4 9 9 253,246 1 3 4,720 1-51,552 540,602 154,27=
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