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STATEMENT .FOR THE PRESS
St. 4159
Fed<Jral Reserve Board,
July 24, 1924.
Released for publication
Frid.a;y morning, July 25;
not earlier.
CONDITION OF .FEDERAL RESERVE B.AJ."\JKS
The consolidated statement of condition of the Federal reserve banks on July 23.
made public by the Federal Reserve Board, shows a further reduction of $9, 700,000 in
aggregate holdings of earning assets. Holdings of discou.nted. paper declined. by
$14,400,000 and of acceptances purchasred in open market by $5,900,000, Vlhile Government security hold.ings increased ey $10,600,000. Federal reserve note circulation
decreased by $}0, 100,000 and cash reserves increased. by $7,100,000.
A .decrease of $8,900,000 in hold.ings of discounted bills is reported by the
Fed.eral Reserve Bank of New York and of $2,800,000 by Philadelphia. The remaining
banks show relatively small changes in their holdings of discounted bills. Paper
secured ey u. s. Government obligaticns decreased by $12, o;:;o,ooo to $85,300,000. Of
the latter amount, $71,400,000 was secured by Liberty and other u. S. bonds,
$13,100,000 by Treasury notes, and $800,000 by certificates of indebtedness.
Holdings of acceptances purchased in open market show a furtl1er redu.cti en of
$5,900,000, all banks reporting decreases in tnis item except Atlanta which snows a
small increase. The New York reserve bank shows an increase of $10,6oo,OOO in its
holtHngs of Government securities, w:1ile the remaining banks report little or no
change in this item. Of the total increase in Government security holcl.ings,
$8,700,000 was in Treasury notes and $2,400,000 in certificates of indebtedness.
Holdings of U. S. Government bonds declined by $500,000.
All Federal reserve banks show a smaller voluine of Federal reserve notes in circulation, the principal decreases being as follows; Philadelphia $6,900,000, New York
$5,500,000, Cleveland $3,800,000, Chieago $3,600,000, and Bost~ $3,300,000. Gold
reserves increasetl by $7,000, :oo during the week and Reserves other t ~1an gold by
$100,000, while Non-reserve cas:1 cleclined by $1,900,000.
A summa:ry of changes in the principal assets and liabilities of the reserve·
banks during the week and the year ending July 23, 1924, follows:
Increase or decrease during
Week
Total reserves •
Gold. reserves
...
+
+
Total earning assets
.·
Bills discounted, total . • . . . . . • .
Secured by U. S. Government obligations
Other bills discounted , • .
. • .
Bills bought in open market
U,
Government securities, total • , ••
BaldS . . . " . . . . " . . . . . . . .
Treasury note13 • • . • . . . . . .
Certificates of indebtedness • .
c.
7,100,000
7 ,ooo, 000
+ $ 73,500,000
54,ooo,ooo
+
--
-
232,900,000
469,700, oco
379,100, ceo
190,600,000
5,900,000
145 ' 300' 000
+ 10, 6oo,ooo
500,000
+ 3, 700,000
+ 2,400,000
+ 38'0,900,000
4,800, coo
~ ---,
+ C::''93 1 600 1 ~._,·vv
+ 92,100,000
Federal Reserve notes in circulation
Total deposits • . • • • • • •
Members 1 reserve d.eposits
Government deposits
Other derosits . . . . . . .
iP
9, 700,000
14,4co,ooo
12,000,000
2,400,000
..
s.
,.
Year
+
+
+
30,100,000
-
800,000
10,600,000
5,600,000
5,800, 000
+ 248,300,000
+ 235,400,COO
+
5,300,0CO
7,600,000
+
412,200, QOO
St. 4159a
Released for publication Frid~ morning, July 25, 1924; not earlier..
RESOURCES AND LIABILITIES
OF THE Tw.EL VE FEDERAL EESERVE B.&"'T{S COMBINED
(In thousa.OOs of Giollars)
JulY 23. 1924 July 16. 1924 JulY 25,1923
RES
o·u
R CE S
105,864
2,0SS,246
60,539
2,118,785
662,477
332,289
3,113,551
86,454
3,266,414
57,312
3,200,005
74,025
85,271
205,561.
290,332·
31,530
97,235
208.,006
364,.413
396,126
305,243
37,428
'
]6o,539
20,303
353.531
103,377
417,211
1,250
800,823
20,752
610,495
56ci,613
58.371
27,661
655, C1)9
57.932
27,023
Gold with Fecleral reserve agents . . . ~ •
Gold. redemptim fund with U.S, Treasury •
2,100,4-26
36,684
Gold held exclusiveLy against F.R.notes
Gold settlement fund with F. R. Board • •
Gold and gold certificates held by banks •
2.,137,110
Total golQ. reserves "· • • . . • . •
.
Reserves other than gold • •
•
.... .
Total reserves • .
Non-reserve cash • . • . •
Bills discounted:
Sec. by U.S. Government obligations
Other bills cliscounted • •
. • . .
Total bills Q.isgounted •
Bills bought in open market
U. S. Government securities:
. ..
. . ·•
...
Bmd.s • • • . . . • . . . • • • • • • •
Tre·a.sury notes • • . • . . . , • • .
Certificates of indebtedness . • • •
Total U. S. Government securities
All other earning assets
.•
. • . . • •
Total earning assets . • , . . • •
5% Redemption fund - F~. R. Bank notes ..
Uncollected items . • . . . .
Bank premises . . • . . • . . . •
All other res~rces . . • • • •
• •
.
..
. ..
584~.488
445,929
3,167,527
106,015
3,273,542
55,456
2,111,173
37,657
2,146,830
574,339
437,381
3.16o,550
344.8~7
100,965
466,574
1,250
--
176,864
25,12£
59,886
11,268
96,264
10
1,033,697
193
578,566
53,JCB
12,967
4,, 776,466
4,874,275
4,952, 762
1,782,626
1,812, 712
2,194,871
2,074,636
1,839.2.62
Deferred availability items • • . . . • ..
Capital paid in • • • . . . ~· ,. • •
Btlrplus . . . ~ . . . . . . _. . ._. .
. •
All other liabilities • . . . • . . . • .
30,097
2,11.&-4-,851
504,6oo
1l1,4o9
220,915
12,065
2,085,203
34,514
24,288
2,144-,005
573.337
111,405
220,915
11.,901
TO!'AL LIABILITIES • • ,. . • . • •
4,776,466
4,£ 74,'275
TOTAL RESOORCES • , • •
LIABILITIES
F. R.nOtes in actual circulation • . •
F. R. Bank notes in ciraulat icn ... net ••
Deposits:
Member bank - reserve account
Goverrmtent ..
• . . . .
.
.. . . . •. . • •
Other deposits . . • •
~
•
Total d.eposits
. • • .
•
II';
..
4o,ll8
1,6o8.
J4~7S4
22,521
1,896,567
513, 767
109,629
216,3($
17,951
-~
4,952, 762
Ratio of total reserves to deposit and
F. R. note liabilities combined . . . •
83.3~
i. 2. b%
78.2%
Contingent liability on bills purchas~
for foreign correspQndents • . • . . • ,
38,334
)8,35S
34,.944
c.
rf
St. 4159b-
h· Jleleasad for publication Friday morning~ July 25, 1924; not earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, JULY 23, 1924.
RESOURCES
(In thousands of dollars)
Cleve. Rich. ~tlanta Chicago St.Lruis Minn. Kans. Cy. Dallas San Fran.
Total
Boston New York Phila.
Federal Reserve Bank of
212,472 620,122 192,890 215,512 40,012 125,803 259.626 fo,380 56,300 55,764 25,130 236,415 2,100,426
Gold with Federal Reserve Agents
2,126
2,~54
2,181 1,512 2 1 440
4,047
1 1 66o 1 1 149
3,922 9,119
3,015
2,259
36!684
Gold redemption fund with U.S.Treas.
· Gold held exc1us ive1z ~amst
F. R. notes
Gold settlement fund with F.R.Board
Gold and gold. certif. held by banks
Total gold reserves
Reserves other than gold
Total reserves
Non-reseJ"Ve cash
Bills discounted:
Sec. b.1 U. S. Govt. obligations
Other bills discounted
Total bills discounted
Bills bought in open market
U. S. Government securities:
Bonds
Treasury notes
Certificates of indebtedness
Total
All
othe~
u.s.
Govt. securities
as~
Uncollected items
:; · Bank premises
All other resources
TOTAL RESOURCES
624,044 202,009 218,060 4~971 127,929 262,641 62,561 57,812 58,204 26,790 237.564 2,137,110
164,718 28,977 78,&15 }2,822 6,903 113,276 Cj,855 5,841 37,738 5,d:J7 26,373 584,488
210,038 30,044 1£,627 10,141 6,598 63,449
8,645 9, 734
3,802 8,695 34,407 445,929
22>9,~6 .. 998,850 261,030 315,508
9,468
28.728
2,534
85,934 143,435 459,366 101,061 73,387 99,744 41,162 298,344 3,167,527
6,283 4,656 12,372 15,071 11,467 2,035 3.597 6,434 3.310 1o6.015
299,154 1,027,578 263,504 321,131 90,590 155,e07 474,437 112,528
16,054 1,458 3,277
2,562 4. ::so 8,816 4,721
4,431
75,%2 103,341 47,616 301,654 3,273,542
1,043
2,806
2,300 3,708
55,456
15,471 10,733 12,180 3,228 9.540 3,959
731 1,004 2,013 4,113
7,830 ·-g
17,820 18,321
- ..!..154
__ .. 33,251 ~.472 29,,28 14,_2e>; 14,015 15,236
4,939
4,371
17,360
14,459
9,310
2,961
31,819 23 .. 301
10,444 l,l.i-36
541
25,823
&.223
1,202
549
123,510 24,578
,34,597
160,575
46,868
·48,167
4,312
202,838 55,661 68,322 50, ~8 33.973 106,239 28,6o6 41,082 45,529 47.928 72,989
800,823
130,852 51,891 57,666 47,216 ''22,203 70,579 28,879 12,906 35.127 19,988 35,119 56o,613
15,932 1,110 9,129
2,528
2,854 4,595
1,912 2,&80
2, 739 8,264 2,116
58.371
254
293
1.cn5
9.~1
451
231
l!m 5. 503 _]••J59. 3.113 4, 231. ___...2.1,661
earning assets
Total earning
c.
216,519
53,468
19,699
86
2~.862
18,887 45,431 31,700 38,968 18,163 14,746
124
2,175
232 1,465 1,901
715
2,915
33,520
4:t241 10.825
1.191
3,030
904
141 4,426
518- 47,296
14<} 13,648
29,674 47,260
1,250
5,125
80S
85,271
205,561
16,240 19,833 22,434
l,l.J.52 5,802
2,823
'-90,832
31,5.30
12
7,389
703 . 1,234
8,527 14,532 21,215 16,328 34,654
1,19Z 3,100
4,131 13,066
5,919
20,303
353,531
65,370 10,319
25,621
27,837
22,293
47,732
103,311
477,211
1,250
403,038 1,4o2,657 313,936 460,4S3 193.921 220,917 666,792 176,990 138,875 192,757 123,517 420,581 4, 776,466
!klea.Se3 for publica:.ion Frid~ morning, July 25, 1924; not earlier~
RESOURCES AND LIABILITIES OF THE FEDERAL RESE:RVE BANKS AT CLOSE OF :SUSH:ESS, JULY 23, 1924.
LIADILIT!ES
(In thousands of dollars)
.Federal Reserve Bank of
r. R. notes in actu.al circulation
Der•Osits:
;~ember ba.Ylk - reserve account
Governnent
Other deposits
Total d.eposits
Deferred availability items
Capital paid in
Surplus
.Ul other liahilities
TOTAL LIABILITIES
Boston
194,586
135,053
1,997
171
137,221
46,656
7,972
16,390
213
40J,O}e
New York
Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis Minn. Kans.C:;. Dallas San Fran. Total
329,484 172,909 205,733 69,083 134,996 241,789
59,183 66,504 63,594 4o,048 204,717 1,732,626
849,842 122,698 16},262 59,470 53,420 308 J 468 69,493 44,404 74, 6(9 46,277147,615 2,074,636
~ 079
7,767
946 3,o6o 2,556 1,285 10,021 2, 752 1,319
),
3,0£4
lt 752
40,118
181 1,114
431 1,167
714
16!691
241 5,068
.194
3. 786
339
30,097
874,300 124.075 167,4£9 62,220 54,836 319,603 72,964 46,562 81,494 48,270 155,767 2,144,e51
107,621 46,359 50,021 44,166 16,050 60,473 29,216 13,625 33,139 21,725 35,549 504,600
29,980 10,229 12,655 5,344 4,583 15.167 5.053 3.377 4,391 4,137 8,021 111, 4C9
59.929 19,927 23,691 11,672 8,950 30,426 10,072 7,484 9,496
7,577 15,301 220,915
894
1,343
439
936 1,452 1,334
643 1, 7&:>
1,226
502 1.323
12,065
1,40e,657 373,938 460,433 193,921 220,917 66s,792 176,990 138,675 192,757 12},517 420,581 4, 776,466
Jtatio of total reserves to clepos it
aD} . .F. R. note liabilities
combined, per cent
'
&6.2
!
IContingent liability on bills
purchased for foreign
correspondents
82.1
6£).0
71.2
53.7
53·9
33-3
I
11,162
3, 717
4,484
FEDERAL REBE:RVE
2,135
NO'f~S
1,686
5,110
l,S?S
1,3cJ
1,763
1,456
2,913
38,334
OUTSTANDING AND IN ACTUAL CIRCULATION
P. R.
notes outstanding
F. R. notes held by bankS
215,559
20,973
6}1,039 213,038 233,154 79,l£1 148,238 259,256 i0,04o 69,921
301,555 40,129 27,421 10,093 13,242 17,467 10,857 3,417
.r.
194, 5f)6
329,434172,909 205,733 69,083 134,996 241,789 59,183 66,504 63,594 4C,O% 2o4,717 1,782,626
R. notes in actual circulation
70,36s 48,006 252,960 2,290, 76o
6,774 7,95e 48,243 5Qg,l}4
DISTRIBUTION OF DILLS AND U. S. CERTIFICATES OF INDEBTEDl'JESS 13Y MATURITIES
Frcm 91 days
61 to 90 days
16 to 30 days 31 to 60 days
Within 15 claJrs
Over
Bills discounted
Bills bought in open market
Certificates of indebtedness
127, 0;38
14,075
30,065
6,075
51,432
6,e9o
47,726
2,223
to 6 mont1:ls
33,463
-----~-~---
Total
"'32
'>9~"'
v,o
~
261
98~' 164
2
5,213
c.
6 months
~
31,530
103,377
Released for pliblicat iol"l Friday
morni~,
July 25, 1924; not earlier.
!'EDE'ML RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS .. JULY 23, 1924.
(In thousands of dollars)
Jederal
Res~rve
Agent at
Boston
New York Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis Minn.
Kans.Cy. Dallas San Fran. Total
k
~
~·
R E S 0 U R C E S
P:
Jf.'
J'e:'eral Reserve notes on hand
•i· Collateral
!ederal Reserve notes outstanding
security for Fac1eral
Reserve notes ou.tstancling:
r
'
Gold and gold certificates
Gold redenption fund
Gold fund - F. R. Board
Eligible paper:
.Amount required
Excess amount held
TOTAL
26,100 2.1, 750 33.753 21,937 68,500 948,105
70,01+0 69,921 70,368 48,oo6 252,96o 2,290,76o
90,2.00
215,559
2.41,120 53,000 54,3?0 38, 15C 74,985 224,24o
631,039 213,038 233,154 79,181 148,238 259,256
35,300
19,172
158,000
2.,400
12,631
9,985 13,052
238,531 16,000 8, 7BO
336,679
30,591 11,501 11,732 3,717 6,403 5,982
115,993
3.395 1,248 4,404 2,999 14,849
351,000 165,389 195,000 36,295 117 ,oco 253,644 47,000 42,000 51,36o 9,500 221,566 1,647,754
3,087
9,184
10,9_17 20,148 17,b42 39,169 22,1+35
28,000 1,265 3,403 6,21+0 10,704 40,_686
9,660 13.621 14,6o4 22,876 16,545
8,618 1,636 2,898 2, 785 6,998
190, 704
123,017
5}0,502 1,531,138 480,341 524,081 202,752 382,165 783,808 174,798 163,228 1TI,387 120,734 581,418 5,653,012
LIABILITIES
Net amount of .Federal Reserve notes
received from C(.mptroller
of·the Currency
305,759
872,159 266,038 287,S24 117,331 223,223 483,496
Collateral received :from
Federal reserve bank:
Gold
E1igi b1e paper
620,122 192,890 215,512 40,012 125,803 259,626 60,J50 56,300 55,764 25,130 236,415 2,100,426
39 , 511 21,413 21, o45 45, 40J 33, 139 4_o:.z.,~6s:...;6:_...;18.;.;...L.;,2::.:'7i~S--=1;.,::5;!..,2=::5~7--=1;..!7..t..,50::::.;:..;;:2;_....,;25~,6,;;_6;;.,.;;;1:_2=.:=3~,~54.:.:3'---_.::3~1~3.!..,7!..:2.=1-
TOTAL
c.
212,472.
12, 211
530,502 1,531,798 480,341 524,081 202,752 382,165 783,806
96,140 91,b7l 104,121 69,943 321,460 3,238,865
174,798 163,228 177,387 120,734 581,418 5,653,012
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