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STATE-•?,*!? ?0R THE PRESS Released, f o r p u b l i c a t i o n F r i d a y morning, June not e a r l i e r . S t . 5390 F e d e r a l P e s e r v e Board, June 2, 1927. COHDITI017 OF FEDERAL RE SERVE BAIXS The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e F e d e r a l r e s e r v e b a n k s on June 1, made p u b l i c "by t h e F e d e r a l Reserve B o a r d , shows i n c r e a s e s f o r t h e week of $101,300,000 i n b i l l and s e c u r i t y h o l d i n g s , of $4o,400 s C00 i n member bank r e s e r v e d e p o s i t s and of $ 3 4 , o 0 0 , 0 0 0 i n F e d e r a l r e s e r v e n o t e c i r c u l a t i o n , and d e c l i n e s of $ 2 4 , 0 0 0 , 0 0 0 i n cash r e s e r v e s a n d $7,000,000 i n n o n - r e s e r v e c a s h . Holdings of d i s c o u n t e d b i l l s were $67,900,000 above t h e p r e c e d i n g w e e k ' s t o t a l and of Government s e c u r i t i e s $ 4 0 , o 0 0 , 0 0 0 . above, w h i l a open-market a c c e p t a n c e holdings declined $7,200,000. The F e d e r a l Reserve Bank of How York r e p o r t s an i n c r e a s e of $24,000,000 i n d i s c o u n t s f o r t h e week, t h e Chicago bank an i n c r e a s e of $ 2 3 , 1 0 0 , 0 0 0 , P h i l a d e l p h i a $ 1 0 , 6 0 0 , 0 0 0 , S t . L o u i s $ 8 , 9 0 0 , 0 0 0 , and Boston $ 5 , 1 0 0 , 0 0 0 , w h i l e the C l e v e l a n d b a n k r e p o r t s a d e c l i n e of $ 5 , 2 0 0 , 0 0 0 i n d i s c o u n t s . The S y s t e m ' s h o l d i n g s of T r e a s u r y n o t e s i n c r e a s e d $ 2 7 , 0 0 0 , 0 0 0 , of U n i t e d S t a t e s b o n d s $ 1 1 , 7 0 0 , 0 0 0 , and of T r e a s u r y c e r t i f i c a t e s $ 1 , 9 0 0 , 0 0 0 . Most of the F e d e r a l r e s e r v e banks r e p o r t a l a r g e r volume of F e d e r a l r e s e r v e n o t e s i n c i r c u l a t i o n than a week ago, t h e p r i n c i p a l i n c r e a s e s b e i n g : Hew York $ 1 9 , 0 0 0 , 0 0 0 , Chicago $ 5 , 1 0 0 , 0 0 0 , and Boston 1. nd P h i l a d e l p h i a $ 4 , $ 0 0 , 0 0 0 e a c h . A summary of changes i n the p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e s e r v e b a n k s d u r i n g the week and t h e y e a r e n d i n g June 1, 1927, f o l l o w s : I n c r e a s e or d e c r e a s e d u r i n g Week Year Total r e s e r v e s Gold r e s e r v e s - $24,000,000 18,900,000 + $207,300,000 + 195,800,000 T o t a l b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l Secured by U . S . G o v t , o b l i g a t i o n s Other b i l l s d i s c o u n t e d + 101,300,000 + 33,800,000 96,200,000 28,500,000 22,000,000 6,500,000 7,200,000 15,200,000 B i l l s bought i n open market U. S. Government Bonds . . . . . Treasury notes C e r t i f i c a t e s of + + . . securities, total 4 . indebtedness . . 67,900,000 34,100,000 + 40,600,000 + 27,000,000 1,900,000 - Federal reserve notes i n c i r c u l a t i o n . + Total deposits Members' r e s e r v e d e p o s i t s . . Government d e p o s i t s . . . . C. + 11,700,000 - 41,700,000 + 13,700,000 - 48,900,000 34,600,000 + 36,300,000 + + 41,000,000 40,400,000 + + 105,400,000 82,900,000 + 1,700,000 + 10,100,000 + 6,500,000 R e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, -June 3 . 1927! n o t e a r l i e r . S t . 5390a RESOURCES ASD LI ABILITIES OF THE TWELW FEDERAL HHS3HVE BAHS COMBINED ( i n t h o u s a n d s of d o l l a r s ) June 1,1927 May 25,1927 June 2, 192S R E S O U R C E S Gold w i t h F e d e r a l r e s e r v e a g e n t s Gold r e d e m p t i o n f u n d w i t h U.S. T r e a s u r y . Gold h e l d e x c l u s i v e l y a g a i n s t P . R . n o t e s Gold s e t t l e m e n t f u n d w i t h J . R. Board . . Gold and g o l d c e r t i f i c a t e s h e l d by b a n k s . Total sold reserves Reserves o t h e r than gold Total reserves ^on-reserve cash B i l l s discounted: Sec. by U.S. Government o b l i g a t i o n s . . Other b i l l s d i s c o u n t e d . . . . 1,6l0,437 54,326 1,351,245 47,130 1,450,150 52,511 l,oo5>0S3 1,598,376 1,502,Sol 501,472 726,503 552,216 751,385 632,400 632,169 2,993,038 1oO,747 3,011,977 165,848 2,797,230 149,250 3,153,785 3,177,825 2,946,480 53,222 60,197 47,134 2o2,319 233,oS8 228,715 199,905 284,841 24q,11o Total b i l l s discounted B i l l s bought i n open market U. S. Government s e c u r i t i e s : Bonds Treasury notes C e r t i f i c a t e s of i n d e b t e d n e s s 496,507 225,993 428,620 236,170 524,957 244,143 115,862 120,953 124,582 105,173 93,978 122,769 103,106 169,846 131,200 T o t a l U.S. Government s e c u r i t i e s . Other s e c u r i t i e s F o r e i g n l o a n s on g o l d 362,497 1,800 - 321,920 1,300 - 4o4,152 3,o8$ 8,900 T o t a l b i l l s and s e c u r i t i e s . . . 1,039 , 79 7 938,510 1,186,037 Gold h e l d abroad Due from f o r e i g n b a n k s Uncollected items Bank p r e m i s e s All other resources 59 t ^lig 550 702,734 52,252 13,293 TOTAL RESOURCES 59,548 60O 639,383 58,882 13,509 691 693,424 59,655 17,828 5,132,526 4,993,514 4,951,259 1,740,432 .1,705,804 1,704,136 2,30S,l4o 25,895 4,587 27,857 2,2^7,762 24,185 5,757 27,858 2,225,270 15,792 4,295 15,833 2,356,579 2,325,56-2 2,261,190 653,589 129,036 228,775 14,015 595,189 129,030 228,775 14,154 625,602 122,570 220,310 17,351 5,132,526 4,998,514 4,951,259 L I A B I L I T I E S F. R. n o t e s i n a c t u a l c i r c u l a t i o n . . . . Deposits: Member bank - r e s e r v e account Government F o r e i g n bank Other d e p o s i t s Total deposits Deferred a v a i l a b i l i t y items Capital paid Surplus All other l i a b i l i t i e s . . . . TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined . . . . C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d f o r f o r e i g n correspondents C. fS.Zx f&.Syo 74.3)6 159,777 159,574 62,o47 „EV5 SOURCES AH) U T I L I T I E S OF THE FliBSRtt, HSSSRVB BAMS OH JU3E 1, 1927. ( i n thousands of d o l l a r s ) T o t a l Boston Zo'v York Phi l a . Clove. Rich. A t l a n t a Chicago S t . L o u i s Minn. Gold w i t h F e d e r a l Reserve i g e n t s 1,310,437 114,899 372,027 112,211 197,040 5 6 , 6 0 0 157,071 244,078 12,289 55.591 Gold redemption f u n d with U . S . T r o a s . 54,626 9,270 13,009 11,089 3,598 2,963 2,209 2,633 1,932 1,867 Gold h e l d e x c l u s i v e l y a g a i n s t F. R. n o t e s 1,565,063 124,169 57,453 3 8 5 , 0 3 6 1 2 3 , 3 0 0 200,638' • 5 9 , 5 6 3 1 5 9 , 2 8 0 246,711 14,221 Gold s e t t l e m e n t f u n d w i t h . . 3 . B o a r d oOl,472 39,076 8,809 6,032 40,113 27,409 8,078 102,242 36,162 251,929 Gold and gold c e r t i f . h e l d by banks 726,503 27,800 8,172 1 6 , 2 7 6 4 , 3 8 1 5 1 , 2 1 9 477,442 26,819 59,548 5,202 ' S t . 5390b RESOURCES T o t a l gold r e s e r v e s Reserves o t h e r than gold 2,993,038 191,045 1,114,407 186,281 300,304 lS0,747 20,239 33,175 5,597 10,392 Total r e s e r v e s 3,153,785 211,284 1 , 1 4 7 , 5 8 2 191,978 ITon-reserve cash 12,404 5,660 53,222 1,531 B i l l s discounted: Secured by U.S.Govt, o b l i g a t i o n s i 2 6 2 , 8 1 9 32,982 79,622 35,332 Other b i l l s d i s c o u n t e d 233,688 16,943 18,937 37,505 Total b i l l s discounted S i l l s bought i n open market U„ S. Government s e c u r i t i e s : Bonds Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s T o t a l U.S. Govt, s e c u r i t i e s Other s e c u r i t i e s 496,507 228,993 120,953 124,682 3,934 4,585 5,oMo 362,497 13,559 116,862 1,200 T o t a l b i l l s and s e c u r i t i e s 1,089,797 Gold h e l d abroad 59,548 060 Due from f o r e i g n banks Uncollected items 702,734 55,882 Bank p r e m i s e s 13,898 All other resources TOTAL RESOURCES C. 49,925 23,374 5,132,526 — 117,127 75,302 74,773 - 67,808 3,945 31 380,053 267,202 16,495 660 190,628 16,276 3,617 1,654,864 25,015 1,500 65,634 1,737 134 25,132 211,192 25,551 7,751 17,895 9,093 91,565 5,324 52,120 282,163 7,985 9,877 33,171 32.800 36,529 17,888 74,439 3,932 423,280 4,454 7,285 54,417 3,321 78,371 1,344 96,989 60,105 292,o4o 2,015 2,495 3,257 3,705 5,751 34,970 11,966 7,004 15,244 2,130 28,838 37,359 40,674 10,059 23,043 3,853 3,721 5,187 11,626 2,279 3,930 12,042 21,256 45,936 18,330 22,243 30,968 78,033 8,655 26,801 7,574 7,491 16,813 3,761 6,209 8,139 33,107 11,908 33,298 15,323 2,023 29,261 7,057 3,549 11,363 2,508 1,374 9,352 5,310 13,449 9,071 3,472 6,968 6,101 4,012 27,491 17,081 44,68? — 93,127 109,953 6,312 5,717 — 58,363 171,739 4 0 0 , 1 7 2 8,849 14,231 23,108 92,174 310,696 101,023 186,020 19,116 3,757 14,532 6,819 13,943 25,003 30,654 14,439 11,157 — 86,858 4,466 54,269 12,343 Xans.Cy. D a l l a s San Fran. 56,199 23,288 209,144 2,l64 1,844 2,048 - 63,092 7,118 1,226 9,529 — 39,916 3,097 - 53,983 2,302 299 359,90-5 5 0 7 , 1 0 2 2 0 6 , 3 7 1 9,207 300 52,552 — 49,130 157,395 2,441 — 23,9^2 2,893 1,640 8,213 — 86,930 8,176 1,499 72,506 2,561 - - 32,146 1,786 - 32,618 11,850 3,957 970 2,774 1,854 12,566 6,567 6,991 13,057 6,510 10,079 1 7 , 8 1 1 7,Ob9 12,051 3,458 28,02§ - 24,139 — 53,599 2,203 42,914 2,034 — — 38,6l4 4,459 922 36,4g9 - 85,050 4,168 - 24,423 . 3 8 , 2 1 2 3,487 1,752 1,241 415 270,525 692,784 170,350 130,125 198,801 134,188 427,455 L I A B I L I T I E S j . R . n o t e s i n a c t u a l c i r c u l a t i o n i , 7 4 o , 4 3 2 139»533 hank - r e s e r v e account Government Total deposits 2 , 3 0 8 ' , i 4 o 147,028 v ^ other 149,025 95^,933 64,2^8 17^,6(53 x?;g| (per 14,015 502 5,132,526 330,053 cent) 76.8 W 6h-as^0for1foroign,/correspondents .l oH.notes Oti jficmd. (no b .l e v * dF.R.Agent less notes in 159,777 213,576 £ 226,153 4i,&78 60,729 °3,319 35.392 1 7 9 . 9 ° 3 68,9.78 76,170 2,030 45,995 86,l43 57, M 756 552 1,697 7,482 67,305 2,230 333>25 3',9*33 136,401 139,958 ^2'CS9 # j.,481 512 73,238 69,819 335,280 78,64s 47,060 86,995 59,647 184,975 64,502 49,889 20,2-48 79,2o5 33,510 10*805 3^,53^ 2o,lo7 ^o,pl9 2 $ g & £ 9 I f %'% IjOoS liOOl 103 692,734 170,350 130,125 198,801 510 1,471 J83 _o4l 1,654,864 359,908 507,102 206,371 270,525 73 •6 :: 2,o04 83.4 72.2 77-0 11,995 44,150 15,353 16,952 8,316 6,557 22,070 113,289 34,386 25,057 1^,731 30,352 5 3 > 8 21,353 173,385 59,315 73 • 2 c i r c u l a t i o n ^ , 3 4 2 . Mian. Kans.Cy. D a l l a s San F r a n . 6 4 , 0 5 4 165,031 1^894 i',I47 M ratio 129,425 931,79% 133,720 186,428 653,629 liabilities TOTAL L I A B I L I T I E S Reserve , u ^ 421,326 2,366,579 Deferred a v a i l a b i l i t y items All °' u - JuisOuRC.30 .ilTjD LiABlLin.SS OF xttti FS0ERAL KJiSr^vS xsAhtvS OlI J u S 1, 19^7( I n t h o u s a n d s of d o l l a r s ) T o t a l Boston How York P h i l a . Glove. R i c h . A t l a n t a Chicago S t . L o u i s 79 • 2 75*3 4-2-1 ^ 72.7 & o4.5 6,877 4,798 3,326 5,d7d ,—7,^ & ill 1 134,188 63-2 427,455 60.0 5,917 5,597 9,8)7 -*,<33 ), ooti 11,195 lili rwH "+4,08 > wrfSTPAL RESERVE ivOTE ACCOUNTS OF UT.DEB.AL EESSEVE AGEITS : : : k ? rar M ^ n o t e s i s s u e d t o - . R r Bank 2 , 1 0 5 , 7 7 4 161,336 J o l l a i o r a l hold as security f o r FAR, n o t e s i s s u e d t o F.R. Bank: : : : M L " ^ 1 6 * 6 ' Total c o l l a t e r a l B i l l s discountsri B i l l s bought i n open market C e r t i f i c a t e s of i n d e b t e d n e s s C.FRASER Digitized for 1 ; ! 2,313,647 Total . 436,50? 228,993 124,682 188,198 ^ 539,615 163,311 238,633 W 78,835 1 9 5 > 3 3 279,641 45,204 66,305 73,176 , U43U x3:So 1 : 5 I S h w 381,o4o 129,924 50,186 l o t o 30 days 31 t o 60 days 6 l t o 90 days g months 26,053 43,438 3^,021 - 26,563 18,687 50,7d7 6,810 11,379 ~ (, n | « g 558,391 l 6 6 , 7 4 2 260,428 86,039 196,469 343,399 5 7 , 0 7 2 70,586 8 1 , 6 o 7 MATURITY DISTRIBUTION OF BILLS AHD CERTIFICATES OF IIlEBTEMtiSS Within 15 days 39,688 224,047 O 42,043 *57,613 Over 6 montns 726 linf-i7 '°
@FedFRASER