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STATSffiie .FOE THE PBSSS Released for publication Friday uerning, July 15; not earlier. S t. 2121- 'Federal R eserve Board July l4, 1921* CONDITION OF FEDERAL RESERVE BA.'KS Retirement of over $6S,000,000 of Federal reserve notes and reduction of $ 1 9 , 200,000 of deposit liabilities, as against a gain of $16,400,000 in cash reserves, are indicated in tne Federal Reserve Board1s weekly bark statement issued as at close of business on July 13, 1921*,. *£e banks* reserve ratio shows a rise for the week from 60 to 61 .b.per cent. Federal reserve bank holdings of paper secured by Govern ment obligations show a decrease for the week of $55,^00,0^0, other discounts - a decrease of J41,800,000, &nd acceptances bought in open market - a decrease of 4>° jOu^ shown in the total of Pittman certificates held, e o Treasury certificates on hand enow an increase of ^r-»> *1,000,000 of which represents a special “ r u fic a te * 1 ^ , ■ New York Bank. In consequence of -tne ci^nfees notea, to a ing assets of the Federal reserve banks on July 13 snowed de crease of $ 9 5 , 900,000 for the week, and stood at s U b* *ly $2,000,000,000 for the first time since oeptember cx>, Xj Of the total holdings of *618,*00,000 of paper United States Government obligations $397, i f ,000,or 0 4 .j. per cent, were secured by Liberty and other Unitea $158 '700,000, or 25.6 P « cent, - by Victory or ,5 per cent, - by Treasury notes, and '0 00Q per cent, - by Treasury certificates, compared with $ 4 2 3 , > 0 ,COO, $16 6 , 500,000, $ 4 , 600,000 and $20,100,000 shown tne weeic De Discounted bills held by the Boston *»? N«* - ^ a ^ r . e - ' elude ftf.soo.ooo of bills * ♦ * « .. apolis and Dallas banks, compared wx $ *5 * about ^600 000 ■The two former bank* report S wiile rf tv-^r combined accommodation at t^e New Y^r tJe llilas b 4 snows » increase i n its rediscounts M * •.osr.cn bank from $ 1 0 , 500,000 to $16,400,000. tne i S o s e J 'l a r g e l J of non-members- clearing accounts and cashier^ r»: S - { - j r t h d e ^ d fo r ^ r r e n c y r S r ^ ^ f S ^ .S 'i n ^ d e r a l the reserve ba.it note circulation. ■ cc tnA 4nn non in was due The increase of $lb,400,uuu m cash wsj* reserves * . additions of $14,700,000 to ffrld ^ i T e ^ l $ 1 ’7° ° ’W ° other cash reserves, i . e . , silver and lebals. Released for publication Friday morning, July 15. 1921; not earlier. St. 2121a. RESOURCES AND LIABILITIES OF TSE TWELVE FEDERAL RESERVE BAMS COMBINED. (In thousands of dollars) R E S O U R C E S Gold and gold certificates . . , Gold settlement fund - F.R.Board Gold with foreign agencies . . . Total gold held by "banks . . Gold with Federal Reserve Agents Gold redemption fund Total gold reserves . . , , . Legal tender notes, silver, etc. Total reserves Bills discounted: Sec. by U .S . Government obligations All o t h e r ............................................... Bills bought in open market . . . . . . Total bills on hand . . . . ... . . . U.S. bonds and notes . . . . . . . . . . U .S . Certificates of indebtednessOne-year certificates (Pittman A ct). . All other . . . . . . . . . . . . . . Total earning assets . . .............. Bank premises. . . . . . .......................... 5fo Redemption fund against F. R. Baric notes • Uncollected items .......................... . . . All other resources ................................. TOTAL RESOURCES ............................. L I A B I L I T I E S Capital paid i n .................. Surplus .......................... ... Reserved for Gov’ t, franchise tax . . . Deposits: Government . . . . . . ...................... « Member bank - reserve account . . . . All o t h e r .................. ... . . '............... F.R. notes in actual circulation . . . . F.R. Bark notes in circulation net l i a b i l i t y ........................................ Deferred availability items .................. All other liabilities .......................... « TOTAL LIABILITIES . . . . . . . . Ratio of. total reserves to deposit and F.R. note liabilities combined . . . . July 13. 1921 352 , j5l 402,248 July 6 ,.1921 33S,957 403,14s 75^.5£9 742,103 1 , 623, 32^ 1 , 598,265 137,438 7 2 , 477,806 2,^92 15i:M 5 0 2 , 61+7,594 612 ,784 1 , 085,196 ’ 153.405 2 , 631,211 674', 3.77' 1 , 126,986 l6£,7&7 393.905 111,5 ,1 674,203 1,152,275 144,343. 1,971.421 147,626 2 , 119,047 1 , 256 , 25s 1,233,290 356.471 2 , 846,619 25,135 31,116 1,729,115 1 , 232,499 36,610 215,2 75 ... .12.514 1,999,622 1,999.622 215,875 10,551 25^,375 2,095,535 2 4, s 6i 3 , 167,661 14.698 9,679 557,162 13,088 5 , 288,360 5,331,536 12,400 889,440 ..... 5x185 6,208,017 102,090 102,103 213,824 43,1+19 213,824 42,065 10,942 1,655,303 27,746 34 ,024 1,651,757 27 , H i 1 , 713,152 2 , 671,916 1,868,428 50.585 1,930,713 3,135,293 133,303 438,455 16.712 5 , 331,536 189.375 645,782 45,7.7.a 6,208,017 36,052 25,519 10,033 590,294 1,693,991 2 , S03 .S 33 130,556 483,901 -11,146 5 , 288,360 Sl/dfo 60 .0fo 26,860 34.807 14,084 94,730 164,745 11,700 * 43 ,9$ Ratio of gold reserves to F.R« notes in circulation after setting aside *4 8 . 7# 76 .0# 78 •$$ 3 5 against deposit liabilities . . . ♦Calculated on basis of net deposits and F. R. notes in circulation. Released for publication Friday morning, July 15, IS 21; not earlier, RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS JULY 13, 1921. S t . 2121b. R E S O U R C E S ^ (in thousands of dollars) Federal Reserve Bank of Boston New York Phila. Clevel. Ricnm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Gold and gold certificates 7,877 266, 2l6 1,926 6,182 2,721 4,621 20,565 2,831 8,462 2,184 8,400 20,056 352 , 34l Gold settlement fund - F.R. Board 46,744 35,332 54,251 56,555 20.224 5,812 90,178 1p,552 7,676 32,326 4,090 32,528 402.248 Total geld held by banks 54,621 301,54s 56,157 62,737 22,945 10,433/111,043 19,383 16,138 34,510 12,490 52,584 754,589 Gold With f . R. Agents Gold redemption fund 190,824 508,950 l4 *+,876 183,545 35,223 _ I 5 J Q i ____ 20_,p00___ 5,532 5,885 10,295 Total gold reserves Legal tender notes, silver, etc. 260,752 15,575 . ____ 74,102 Total reserves 276,327 Bills discounted: (a) Secured by U .S .G o v 't, obligations 36,101 All other 43,808 Bills bought in open market c ar~ 86,718 Total bills on hand U, S, bonds and notes 555 U« S. Certificates of indebtedness: One-year certificates (Pittman Act) 18,936 262 All other Total earning assets 106,471 Bank premises 5$ Redemption fund against F. R, Bark notes Uncollect-sd items All other resources TOTAL RESOURCES (a) Includes bills discounted for other F. R. Banks, viz: 830, 498206 , 565252,167 3,019 6.108 5 9, 007) 231,869 51,233 4.75b 32 , 76q 3.918 21,105 2.lfe 33,330 12,799 150.,560 1 , 623,3 a ^ 5.258 5.580 7,187 l l 4 .6 ? T 6 8 ,46l iJ k j. 76 3 75,681 7^,53^ 39,^12 71,098 4.454 7.342 l 6 . 86g 12,752 760 4,227 904,600 209,584 258,275 72,915^81,518 392,549 4o,l72 174,221 250,179 28,904 72,136 7,4l5 24,020 63,233 54,326 55,122 33,055 9^,136 " ~ 83,388 87,286 > 34,770 100,4l4 31,133 65 , 103197,398 50,339 432,108 118,981 150,562 102,429 100,821 299 , 730 2,722 843 4,490 1,574 1,233 10,140 52,776 17, 741 26 , 780 103 21,799 28 7,260 5,376 529 2,245 772 1,870 700 56,826 1,239 53,^07 794 1,353 133 5,480 - 36,112 11,568 l 109 288 2,129 363 44,817 70,64s 14,564 505,3^7 1^7 ,*+38 173,232 110,922 125,526 34o, 44i 3,792 81,608 757 M 75 645 2,000 21, S4i 815 72,423 la2o6 9 ^ , 81 7 76,261 627 656 75,325 28 ,809 210,331 2 ,4 92 ,f$4 7 6,471 3,372 35,340 213,703 2,647,594 5,2l4 38,082 618,784 52,631 108,852 1,085^196 ' *’ -- ---------- fr 78,366 57,981 149,163 1,729,115 8,868 208 36,098 3,979 2,400 9,880 215,875 1 ---1 . ----- =--- 18.53*+ 95,555 64 ,360 159,252 1 ,999,622 8,320 2,889 1,884 560 25,519 916 236 494 275 10,033 1 6 , 259. 42,452 24,156 4 i , 202 590,894 602 ..-,.263 492 499,,,, -ioH*tl.... 1,529, 465 1 .^ 8 444,371 1 , 550,446 415,340 489,192 231,748 231,102 813,394 214,384 134,088 217,636 127,919 418,740 5 , 288,360 130,254 2.999 ....391 „ 56,618 16,445 30,485 - _ _ _ _ 523 30,639 _ _ _ _ _ 46,930 Released for publication Friday morning, July 1 5 , 1921; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JULY 13, 1921. St.2121c. (In thousands of dollars) L I A B I L I T I E S Federal Reserve Bank Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Capital paid in Total 26,872 7,911 8,613 11 , 04 ? 5.331 4,097 14,259 4,512 3,543 4% uliq 7 S ' Surplus 102,090 l6,3>+2 59,318 17,561+ 22,263 11,026 2 ,70S 30,536 9*11^ 7,303 9,330 7*113 15*207 Reserved for Govt, franchise tax 213, 821+ 2,301 17,529 2,799 1.761 U 735 2,680 8,323 1,046 i.js i i .l j j ^ 225 Deposits: *+3.Ul9 Government 538 276 1,200 1,3^7 37S 1,026 91+5 1,316 Member bank - reserve account 110,389 650,310 All other 1 . 0U6 11.515 Total deposits ,973 662,101 10U.2^0 l^q. 7QK kc 7KQ 070 7C), ZvTT^;— r.'v. — y~?-—— rv- ‘ -- 2«°16-- 27,7^6 111,973 F. R. notes in actual circulation 251 , 11+1 65i+,26o F. R. Bank notes in circulation net liability 9,0ll+ 28,326 9,3^5 15,593 5,352 9,167 16,912 6,259 5,35S 1>+,391+ ^.301 Deferred availability items 6,535 ^ ,7 7 1 130,556 98,693 i+S,l+87 1+5,711 37,572 16,709 56,213 2 8 ,6Us. 13,000 39,88*+ 23,705 30, 50s All other liabilities 918 *+83 ,901 61+9 3,3i+7 93! 712 3,0CU , ' 1,213 1,21S 1 , 6c 16 , 71+6 TOTAL LIABILITIES :ls " I S »■;! >i:i .,j:g j m 1 22 444,371 1 , 550.446 415,340 489,192 231^ 3 1 , 1 0 2 813,394 2i 4 ,384 1 3 4 W 2 17^ 3 6 127.919 t ME MO R A N D A Ratio of total reserves to deposit and F.R note liabilities combined, per cent 76.1 6S .7 63.9 65.9 U3.0 I+3.I 57.1+ 53-2 39-3 51*3 U0.5 Contingent liability as endorser on discounted paper rediscounted with other F. R. 3anks 20,000 10,1+85 16 , 1+1+5 Contingent liability on bills purchased for foreign correspondents 2,336 1+0,176 2,560 2,621+ 1,56s 1,152 3,808 1,501+ 861+ 1,536 S32 „ 7k RESERVE NOTES OUTSTAYING AMD i n ACTUAL CIRCULATION ,F. R, notes outstanding 268,581 F. R . notes held by banks 1 7 ,^ 0 * s * a ^ ■ ^ ^ F* R, notes in actual circulation 251,141 byt.ibo 223,653 252,054 iib,8b4 i43 ,b70 444,363 101,750 58.152 II,h 43,331 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days l6 to 30 days 31 to 6C days 6l to 90 days Over 50 days Bills discounted 981+, 52} l 60,ll+0 265,996 215,803 77, 5eO Bills bought in open market 17,225 3,243 2,827 1,830 10 U* S, Certificates of indebtedness 10,065 Moo 28,002 ^ ,3 7 6 1 ^+7,268 o . f e ijH s 60.2 61.6 ^6,930 1,1+72 60,1+32 3 . - 3 3 . 000.507 S z .t o i ’s S Total 1, 703,980 25,135 23i+,4o9 Released fo r p ublication Friday morning, July 15 , 1921; not e a r lie r . FEDERAL RESERVE AGENTS* ACCOUNTS a t CLOSE OF BUSINESS JULY 1 3 , 1921 Federal Reserve Agent at - Boston New York Phila. (In thousands of dollars) Clevel. Hi dm . Atlanta Chicago St.Louis S t. 2121 d. Minn. Kans.Cy. Dallas San Fraa. Total R E S O U R C E S Federal Reserve notes on hand 90,630 Federal Reserve notes outstanding 268,581 Collateral security for Federal Reserve notes outstanding: Gold and gold certificates 5,600 Gold redemption fund 15,221+ Gold settlement fund-F.R.Board 170,000 Eligible paper Amount required 77,757 Excess amount held 8,960 TOTAL 259*200 21,420 43,800 21,009 7*+, 154 534,572 21+3,744 273,162 124,787 151,572 171,800 25,120 12,785 60,211 5,180 85,267 26,212 33,360 725 , 1+70 • 286,924 23,775 21,026 16,1+87 ii+,770 201,000 128,389 145,000 - 2,223 33,000 3 , 1+00 4,607 51,000 6,110 1 5 . 221+ 3,292 216 , 61+5 1+1,831 13,052 2,253 2,970 5,200 30,360 3 ^ ,9 9 2 15,984 119 , 091+ 2 , 231+ 134,576 1 , 159,235 6,131 98 , 868 89,617 89, 561+ 92,565 39,106 51,937 35,007 142,1+63 1 , 377,186 1,968 60,945 11.139 8 , 21+2 il,0 3 7 26,423 -22^808 4,527 iqq .676 636,752 2.005.533 510.376 651,069 282,522 335 , 51.0 1 , 197,310 zsi.ggp X 2 ’A 37 J325,622 -77,188 L I A B I L I T I E S Net amount of Federal Reserve notes received frcsr. Comp troller of the Currency Collateral received frcm Federal Reserve Bank: Gold Eligible paper TOTAL 359.211 1,093,772 265 , 161* 316.962 1 ^ 6,596 225,726 190,824__ 502. 9 5 0 14 4 , 8 76183,545 35,223 59,007 jfi.,717__ _ 402,810 100,836 150,562 100,703 100,807 665, 76H lUg,93S 72,996 90,1*7 7U.01S 326,383 3 , 785,977 231,869 51,233 21,105 33,330 12,799 150,560 1,623,321 ^ , ( iq o i,409 70,143 78.360299,710 57.815 81,409 i 46 qqo 70,143 1 676 78,360 57,815 1^6,990 1,676.862 636,752 2 ,005,532 510,876 651,069 282,522 385, 5^ 1,197>3^3 281,580 164,244 202,137 144,632 623I933 7 I086I160 7 -/ ------i w , w i