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statement fqe the p r ess R«1 for putli flat ion Friday morning, June 3; not earlier. S t , 2012 . Federal Reserve Board June 2, 1921. CONDITION OF FEDERAL RESERVE BANKS. Aggregate gains of $15,800,000 of gold and of $10,600,000 of total cash reserves, as against increases of $ l4 ,4-00,000 in deposits and of $16,500,000 in Federal Reserve note circulation, are indicated in the Federal Reserve Board's weekly bank statement issued as at close of "business on June 1 , 1921, The banks' reserve ratio shows a slight decline for the week from 57*6 to 57*4 per cent. Reserve bank holdings of paper secured by U. S, Government obli gations show a reduction of $ 20, 100 , 000, largely of paper secured by Liberty bonds, while other discounts on hand increased by $76,100,000. Acceptances purchased in open market aggregated about $10,000,000 less than on the previous Wednesday, Pittman certificates on deposit with the Treasury to secure Federal Reserve bank note circulation show a reduction of $6,500,000, while other Treasury certificates, largely special certificates and certificates held under repurchase agreement by the New York Reserve Bank, fell off $40,200,000. An increase of $7,300,000 in U , S, bond holdings represents largely the temporary taking over by the Reserve bank of Atlanta under repurchase agree ments of Liberty bonds heretofore pledged with the bank as col lateral for Government paper. Total earning assets of the banks, as the result of the above changes, showed an increase for the week of $6,600,000 and on June 1 stood at $2,269,700,000, compared with ^3,276,600,000 about a year ago. Of the total holdings of $773,900,000 of paper secured by U .S. Government obligations, $498,400,000, or 64.4 per cent, were secured by Liberty.and other U. S. bonds; $222,900,000, or 28.8 per cent, by Victory notes, and $52,600,000, or 6,8 per cent, - by Treasury, certificates, compared with $ 516 , 800, 000, $ 223, 700, 000, and $53,400,000 shown the week before. Discounted paper held by the Boston and New York banks includes $31,800,000 of bills discounted for the Richmond, Minneapolis and Dallas banks, compared with about $30,000,000 held under discount the week before by the Boston, New York and Cleveland Reserve banks. Of the larger total, $26,300,000, as against $25,300,000 the week before, is carried by New York for the Richmond and Minneapolis banks. Government deposits show an increase for the week of about $1 5 , 000,000, reserve deposits increased by about $ 1 , 000, 000, while other deposits, composed largely of non-members' clearing accounts and cashier's checks, fell off about $1 , 600, 000. Federal Reserve note circulation, for the first time since the weekly report of February 25, shows an increase for the week, though the June 1 total of $2,751,300,000 is still $653,600,000, or 19 per cent, below the peak on December 23, 1920, and about $376,000,000, 12 per cent ,below the total reported on June 4 of last year. Net liabilities of the banks on Federal Reserve bank notes in circulation show a further reduction for the week of $1 , 300,000 to $14 3 , 500, 000, compared with $1 8 1 , 300,000 about a year ago. Released for publication Friday morning, June 3, 1921; not e a r lie r . St.2012a. RESOURCES AND LIABILITIES OF TEE T’TLVE FEDERAL RESERVE BANKS COMBINED. (In thousands of dollars) R E S O U R C E S June 1. 1921 Gold and gold certificates . . . . . . . . 1 Gold settlement fund - F.R.Board . . . . Gold with foreign agencies . .................. Total ,~old held by banks . . . . . . j. Gold with Federal Reserve Agents . . . . I Gold redemption f u n d .......................... ... . Total gold r e s e r v e s ......................... ... Legal tender notes, silver, etc. . . . . Total reserves . . .......................... Bills discounted: Sec. by U .S . Government obligations All other ............................................ . Bills bought in open m a r k e t .................. Total bills on h a n d ...................... ... . U. S. Government b o n d s ............................. U. S. Victory notes ................................. U. S. Certificates of indebtedness: One-year certificates (Pittman Act) All other ............................. Total earning assets ...................... Bank p r e m i s e s ...................... ... .................. 5fo Redemption fund against F. R» Bank n o t e s .................................... U^ollected i t e m s .................. ... All other resources ................................. TOTAL RESOURCES ............................. L I A B I L I T I E S Capital paid i n ........................................ S u r p l u s ....................................................... Reserved for Gov't, franchise tax . , . Deposits: Government ............................................ Member bank - reserve account . . . . All o t h e r ........................................ ... . Hay 25. 1921 279 , 261 474,952 June 4. 1920 754,213 1,505,229 113,,.5P5. 2,392,947 _ 1.6^.285 .2,553,232 707,277 1,110,864 142.712 l,9bO,853 138,082 2,098,940 773,263 1 , 152,370 _ 22*012 2 , 003,305 32,915 23 793,951 1,076,305 SZJJS 1,957,394 25,574 1,433,415 1,130,843 410,688 2 , 974,946 226,275 281,098 504, 7*+6 785,84* 1 , 477,665 145 , 14 m 2,403,653 160,172 2 , 563,825 23 164,519 431,227 111,531 26,795 69 6,6l4 2,269,732 233,375 _46^254 259,375 2 , 263,120 3 , 276,626 23,497 23,396 12,942 10,427 547,094 15,114 11,174 510,175 i!uo63„ 5,379,760 11,745 788,503 6x252 6,195,509 102,173 202,036 120,120 5 , 434,629 102,216 202,036 36,223 15.441 94,108 35,271 32,353 17,323 1 , 656,521 31,456 1 ,720,390 1 , 655,609 .....33,024 36,745 1,858,774 91.876 1 , 705,956 1,387,395 2,751,299 2,734,804 3,127,291 143,493 443,087 _ ...30,885 5,434,689 1*4-4,S34 181,252 609,396 £9jl252 5,379,760 6, 195,509 Ratio of total reserves to deposit and F.R. note liabilities combined . . . . 57 . 4< 57*6$ *42.5> Ratio of gold reserves to F«R. notes in circulation after setting aside 35$ against deposit liabilities . . , 71.5^ 7 1 . 7$ *46-9 $ Total d e p o s i t s ................................. F. R, notes in actual circulation . . . F. R. Bank notes in circulation net liability ........................................ Deferred availability items ............... . All other liabilities . .......................... TOTAL LIABILITIES .......................... 424,929 ...15x3.41 ♦Calculated on basis of net depo sits and F.Jx. notes in circulation. Released for publication Friday morning, June 3, 1921; .not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 1 , 1921. St.2012b R E S O U R C E S (In thousands of dollars.) Federal Reserve Bank of Boston New York Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran, Total Gold and gold certificates 7,789 192,543 1,906 5.839 2,9+1 4,290 19,712. 2,696 8,265 1.952 9,009 1 2 ,456 281,098 Gold settlement fund - F. R. Board 30,704 112,89 5 49.39.2 75,846 18.030 10.592 112,550 14.792 10.577 33.642 4.515 31.211 504.746 Total gold held by banks 38,493 311,438 51,298 81,685 20,671 14,882 132,262 17,488 18,842 35,594 13,524 49,667 785,844 Gold with F. r . Agents 171,060 410 , 8 9 2 10 7 , 758194,989 43,894 69 , 115228 ,0 0 1 59,277 19,897 31,147 1 1 . 3 4 5 13 0 , 2 9 0 1 , 477,665 Gold redemption fund 28,798 36,000 12,000 4,915 5.752 4.971 a . 579 3.721 5.805 6.545 7.286 9.974 l45.l44 Total gold reserves 238,351 758,330 171.056 281,589 70,317 88,968 381,842 80,486 42,542 73,086 32,155 189,931 2,408,653 2.208 4,828 3.860 6.404 16.651___ 11,407_____ 874 5.285 6.005 2.566 l60.I72 Legal tender notes, silver, etc, l6 ,l4 7___ 85>957 Total reserves 254,498 844,287 173,264 286,417 74,177 95,372 398,473 91,893 43,416 76,371 38,i&0 192,497 2 , 568,825 Bills discounted: (a) Secured by u .s .G o v H obligations 4*+,199 251 ,364 1 1 4 . H 7 51,446 37.127 39,255 n o , 324 31,761 7,119 24,421 8,834 53,896 773,863 All Other 66,914 293,341 4i,574 86,833 68,503 63,331 199,893 50,489 58,872 58,072 53 , 9 6 1 1 1 0 , 5 8 7 1 , 152,370 Bills bought in open market 11.507 54.484 11.182 6.561 2.051 928 4,557 528 25 171 5.498 77.072 Total b ills on hand 122,4a) 579.189 166,873 144,640 1 0 7 ,6 6 1 1 0 3 ,5 1 ^ 3 1 4 ,7 7 4 82,77? 65,991 '8 2 ,5 1 8 62, 9 6 6 16 9 , 9 8 1 2 , 003,305 U . S. Government bonds 550 1,005 1,4 34 833 1,233 8,581 4,490 1,153 ll6 8,867 3.975 678 32,915 U . S . Victory notes 5 _ _ 1 0 3 _ _ _ 1 4 _ 23 U , S. Certificates of indebtedness: One year certificates (Pittman Act) 18,936 55,276 2o,780 21,799 9,260 l4,5o4 36,112 12,068 8,480 9,320 3,400 10,880 226,875 _____ 688 3,740___ 1 .158 54 _____ 1 _ ______ 1___ ;___ 74______ 4 _____ ___________ 87 -7726 All other Total earning assets142,599 ~ 639,210 196,225 167,316 118 ,155 126,663 355,450 967003 74 , 662 X 00 ,"793“ 70,345 182,311 2 , 269,732 Bank premises 3.494 5,125 527 2,044 1,904 744 3.593 627 599 2,446 1,835 559 23,497 5$ Redemption fund against F.R.Bk.notes 772 2,108 700 1,239 601 467 1,910 523286 916 361 Uncollected items 46,950 125,047 48,200 49,178 1*1,19 2 17,9°5 75,914 29, 856 14,891 39,831 23,522 34,548 547,094 All other resources 569 3,155 648 862 1,151 722 2.501 64l 215 514 2.086 2,272 15.114 TOTAL RESOURCES448 ,882 1 , 618,912 419,564 507,056 237,180 241,933 8 }7,64l 219,543 134,067 220,871 136,309 412,731 5 , 434,689 (a) Includes bills discounted for other F. R. Banks, v iz .: 5,500 26,3“+8 - - - - - - - _ _ _ 31,848 xtexeased for publication Friday morning, June 3, 1921; not earlierRESDURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 1, i g a . st.ao iac. (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 Fran. To tal Capital paid in 8 , 6lfa 11,04-6 5,4o6 7,901 26,887 4,090 14,228 4,499 4,499 4 ,222 7,289 102,216 3,533 56,414 17,010 20,305 10,5bl Surplus 8,346 1 5 ,7 11 3,343 28,980 6,980 202,036 9,159 6,033 14,194 Reserved for Govt- franchise tax 1,089 2,294 2,310 6,891 1,977 15,351 1,352 1,224 598 1,334 1.863 36,283 Depp sit s: Government 2,463 4,660 2,608 4,635 234 1,510 2,332 911 1,712 6,367 3,394 1,527 32,353 Member bank ~ reserve account 664,213 9s , 131 135,647 5 1 ,083 44,931 237,048 58,831 39,540 69,707 44,843 104,674 3. , 656,581 107,933 All other 431 ..... .371 2.280 4q6 14 jl232_. JLJgSfL .. 135. 482 l *022.. 31.456 791 373 8.827 Total deposits 683,180 100,341 l4 l,0 42 54,122 46,812 245,695 61,954 4 l ,563 71,901 45,450 116,895 ]-,720,390 111,435 F* R* notes in actual circulation 257,700 715,951 230,413 267,955 126,730 157,110 459,808 107,875 61,230 82,784 50,044 233,699 I-,751,299 F. R. Bank notes in circulation net liability 25,093 1 1 ,96s 18,294 12,253 4,898 7,608 6,173 10,422 21,197 6,875 6,179 12,533 143,493 Deferred availability items 40,122 88,322 47,124 44,180 31,417 11,840 56,474 27,599 11,990 37,034 23,543 28,442 448,087 All other liabilities 7,714 ..1J82- 1*1.45..... 1,419 .... 1,022 4.368 U ZS3 1,368 2.741 1.797 2.119 1.627 30.885 TOTAL LIABILITIES 448,882 1,018,912 ^19,564 507,056 237,180 24l ,933 337,64-1 219,543 134,067 220,871 136,309 412,731 s5,434,689 ME M0 RAND A Ratio of total reserves toieposit and F .R . F.R. note liabilities combined, per cent 68.9 60 .3 52.4 70.0 4i_o 46,8 49.4 54.1 42.2 40.0 54.9 57-4 56-5 Contingent liability as endorser on discounted paper rediscounted with other F„ R. Banks - - - 15,000 - - - 11,348 - 5,500 - 31,848 sd for foreign correspondents F. R. notes outstanding F. R. notes held by banks F. R. notes in actual circulation B i l l s discounted B i l l s bought in open market U.S. C e r tific a te s of indebtedness 2,336 2,624 2,560 1,568 1,504 37,977 3,808 864 1,152 832 1,472 1,536 58,233 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 272,517 2 43,625 289,306 131,599 165,603 501,216 128,680 63,723 91,883 52,768 286,6i4 l>,080,993 853,459 ■ 1.31,508 13a 21.2 21,351 1^817. 4.869 8.493 4 i .408 20,805 2.724 52,915 329.694 2,493 9.099 257,700 230,413 267,955 126,730 157,110 459,808 107.875 61,230 82,784 50,044 233,699 J2,751,299 715,951 : DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES Within 15 days l6 to 30 days 6l to 90 days Over 90 days Total 31 to 60 days 1,183,810 75,083 283,352 192,155 191,g33 1,926,233 ^7,069 12,806 15,279 77,071 1,917 6,430 *+,500 10,629 233,489 189,812 22,118 Released for publication Friday morning, June 3, 15 2 1 ; not earlier. 't .20 1 -d.. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JUNE 1, 1921 (In thousands cf dollars) Federal Reserve Agent at Federal Reserve notes on hand Utederal Reserve notes outstanding Collateral security for Federal Reserve notes outstanding: Gold and gold certificates Gold redemption fund Gold settlement fund-E.H.Board Eligible paper: Amount required Excess amount held TOTAL Boston -92,530 272,517 5 , 6CC 15,460 Mew York Phila- Cleve1 « Riclm.. Atlanta 263,000 21,420 4 i , o 4o 21,545 71,132 353,459 243,625 235,306 131,599 165,603 286,524 23 , 775 16 ,214 2,294 3,500 4,615 90,389 155,000 4l,000 61,000 15,357 212 ,644 87,705 17,845 96,433 273,215 150,000 22,563 101,000 101,457 20,963 442,567 135,867 99,342 Minn. Kans-Cy. 4,380 12,025 63,723 91,833 17,363 4,753 94,317 49,363 7,006 6,110 Ui,3S2 3,136 13,052 1,645 50,031 2,787 5,200 28,360 65,403 13 >255 43 ,326 20,360 21,723 652,527 2 , 074,260 513,423 669,520 302,992 409,344 : Collateral received from Federal Reserve Bank: Gold Eligible paper TOTAL 4, z :i 4,220 2,234 4i,U23 20, 679 Total 79S, 273 343, 252 19,335 126,000 11,207 32S.3SS 159, S3l 209,874 154,252 622,375 7,289,257 L I A B I L I T I E S llet anount of Federal Reserve notes received frcm Comp troller of the Currency 60,736 Dallas 23,037 52, 763 365,047 1 , 1 ^ 1,459 265,045 330,346 153,548 236, 73.5 666,956 157,360 75,742 96,263 80,805 330,554 3 , 879,366 1 7 1 . 0S0 122,420 222,001 314,607 19,897 64,126 3 1 ,1 V 32,464 62,102 167,531 1 , 931,726 4io, S92 107,758 194,939 43,894 69,115 5^1,909 l4o , 620 144,135 105,550 103,434 59,277 32,658 11,345 130 , 290 1,477,665 658,527 2 , 074,260 513,423 669, 52c 302,992 409,344 1 , 209,564 299,295 159,231 209,874 154,252 628,375 7 , 289,257
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