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y * STATEMENT FOR THE PRESS Released for p u b l i c a t i o n 5-unlay morning, J m e 6, 1920; n o t e a r l i e r • S t . 1202 F e d e r a l Reserve Boar June 5# 1920 CONDITION OF FEDERAL RESERVE BANKS. F u r t h e r g a i n s of 7*7 m i l l i o n s i n gold r e s e r v e s , a s a g a i n s t t o t a l a d d i t i o n s of about )7 m i l l i o n s t o the h o l d i n g s of d i s c o u n t e d and p u r c h a s e d p a p e r , and measu r a b l e i n c r e a s e s i n d e p o s i t and n o t e l i a b i l i t i e s a r e i n d i c a t e d i n the F e d e r a l Reserve B o a r d ' s weekly bank s t a t e m e n t i s s u e d a s a t c l o s e of b u s i n e s s on Jione 4, 1920 * The Banks 1 r e s e r v e r a t i o shows a d e c l i n e from 42*7 to 42 * 5 P e r c^nt* Holdings of paper secured by U» St war o b l i g a t i o n s were l 4 * 5 m i l l i o n s l e s s than t h e week b e f o r e , w h i l e o t h e r d i s c o u n t s on hand show an i n c r e a s e of 59*4 millions« Acceptances purchased i n open market d e c l i n e d , ,9 m i l l i o n s , and T r e a s u r y c e r t i f i c a t e s , because of l i q u i d a t i o n by t h e New York B a n k , - 4 , 7 m i l l i o n s Of t h e t o t a l war p a p e r h o l d i n g s of 1,433 *4 m i l l i o n s , 626.7 m i l l i o n s * or 43 *7 p e r c e n t , were s e c u r e d by L i b e r t y bonds, 285 *3 m i l l i o n s , or 20 p e r c e n t , by V i c t o r y n o t e s , and 521,4 m i l l i o n s , or 36*3 P e r c e n t , by T r e a s u r y c e r t i f i c a t e s , ccmp a r e d w i t h 4 6 , 6 , 19 and 3 4 . 4 per c e n t of about 1,448 m i l l i o n s of war paper shown the week b e f o r e , T o t a l d i s c o u n t s h e l d by the Boston, New York and Cleveland banks are i n c l u s i v e of 1 3 2 , 8 m i l l i o n s of b i l l s d i s c o u n t e d f o r 7 Southern and Western banks, as a g a i n s t 144 + 7 m i l l i o n s the week b e f o r e + Acceptance h o l d i n g s ox the Cleveland and San F r a n c i s c o Banks comprise 5+4 m i l l i o n s of b i l l s a c q u i r e d from the New York and St* Louis Banks, compared w i t h 5»9 m i l l i o n s a week e a r l i e r , A l l c l a s s e s of d e p o s i t s show i n c r e a s e s over t h e p r e v i o u s w e e k ' s t o t a l s , government d e p o s i t s - by 0 J m i l l i o n , members 1 r e s e r v e d e p o s i t s - by 5 , 8 m i l l i o n s , and o t h e r d e p o s i t s , i n c l u d i n g f o r e i g n Government c r e d i t s and non-member banks c l e a r i n g a c c o u n t s - by 0*7 m i l l i o n » the " f l o a t c a r r i e d by the Reserve banks and t r e a t e d as a d e d u c t i o n from g r o s s d e p o s i t s shows a d e c r e a s e of 5*9 m i l l i o n s , with the consequence t h a t c a l c u l a t e d n e t d e p o s i t s a r e 12*7 m i l l i o n s l a r g e r than the week b e f o r e # F e d e r a l Reserve n o t e c i r c u l a t i o n shows an e x p a n s i o n d u r i n g the week of 20*3 m i l l i o n s , w h i l e t h e Reserve Banks * combined l i a b i l i t i e s on F e d e r a l Reserve bank n o t e s show an a d d i t i o n of 2*1 m i l l i o n s , An i n c r e a s e of $108,000 i n p a i d - i n c a p i - t a l r e f l e c t s l a r g e l y i n c r e a s e s i n c a p i t a l i z a t i o n r e p o r t e d by member banks i n t h e Richmond, Cleveland* S t , Louis and D a l l a s d i s t r i c t s . R e l e a s e d f o r p u b l i c a t i o n Sunday morning, June 6, 1920; n o t e a r l i e r . STATEMENT OF COMBINED RESOURCES AIID LIABILITIES OF THE FEDERAL RESERVE BA1-HCS R E S O U R C E S June 4, 1920 May 28, 1920 $164,519,-000 $167,135.COO Gold. 2-nd g o l d c e r t i f i c a t e s Gold s e t t l e m e n t fund. - F . R. Board 431,227,000 424,452,000 Gold w i t h f o r e i g n a g e n c i e s 111.531.000 111,530,000 T o t a l g o l d h e l d by banks 707,277,000 703,117,000 Gold w i t h F e d e r a l Reserve Agents 1,110,864,000 . 1,112,040,000 Gold r e d e m p t i o n f u n d 142.712. 000 137 > 94b,000 Total gold r e s e r v e s $1,960,853,000 $1,953,103,000 Legal t e n d e r n o t e s , s i l v e r , e t c . 138.087,000 139,393,000 Total r e s e r v e s 2,098,940,000 ^ 2,092,496,000 , (Secured by Government war o b l i g a t i o n s 1,433,415,000 1,447,962,000 n B i l l s discounted ( m ^ther 1,1)0,843,000 1,071,469,000 B i l l s bought i n open market 410.688.000 4lS,60v,000 T o t a l b i l l s on hand 2,97^,9^6,000 2,932,031,000 U. S. Government bonds 26,795,000 26,794,000 U. S . V i c t o r y n o t e s 69,000 69,000 U. S. C e r t i f i c a t e s of I n d e b t e d n e s s 274.Slo.000 279*531>000 Total earning a s s e t s 3,276,626,000 3,244,425,000 Bank p r e m i s e s 12,942,000 12,60S,000 U n c o l l e c t e d iten'is and o t h e r d e d u c t i o n s from g r o s s d e p o s i t s 789,bl6,000 747,190,000 5$ Redemption f u n d a g a i n s t F . R . B a n k n o t e s 11,745,000 11,862,000 All other resources 5,64p,000 5,699,000 TOTAL RESOURCES 6,195,509.000 6,114,340,000 L I A B I L I T I E S Capital paid-in 94,108,000 54,000,000 Surplus 6.7/T 120,120,000 120,120,000 Government d e p o s i t s 37,113,000 36,433,000 Due t o rrevbers - Reserve a c c o u n t 1 , 8 5 8 , 7 7 ^ , 000 __ .... 1,852,916,000 Deferred a v a i l a b i l i t y items SoiyG^^OOO 553,703,000 O t h e r d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s 99t£&5, 000 9",578,COO 2,541,630,000 Total gross deposits /.%76 2,59&, 791,000 F. P. notes i n actual circulation 3,127,291,000 3,107,021,000 F , R. Bank n o t e s i n c i r c u l a t i o n - n e t l i a b i l i t y 181,252,000 179,185,000 All other l i a b i l i t i e s 75.947.000 72,384,000 •TOTAL LIABILITIES 6,195,509,000 6,114,340,000 R a t i o of t o t a l r e s e r v e s t o n e t d e p o s i t and F . E. n o t e l i a b i l i t i e s combined 42.5/? 42.7^ R a t i o of g o l d r e s e r v e s to F . R . n o t e s i n c i r c u l a t i o n a f t e r ^ s e t t i n g a s i d e 35$ a g a i n s t n e t d e p o s i t l i a b i l i t i e s 46.9% 47-1^ S t - 1202a June b, 1919 $354,969,000 581,055,000 936,024,000 1,139»505,000 126,272,000 2,201,804,000 68,539.OCC 2,270,343,000 1,620,994,000 190,130,000 198,307,000 2,009,431,000 27,129,000 333>COO 227,553>000 2,264,446,000 10,986,000 650,757,000 8,868,000 10,042,000 5,215,442,000 82,652,000 4$,466,000 26,058,000 1,70 5,104,000 497,349,000 13^,364,000 2,362,875,000 2,513,037,000 169,246,000 38,166,000 5,215,442,000 53-7% 66.5% R e l e a s e f o r p u b l i c a t i o n Sunday morning, June 6, 132C; n o t e a r l i e r . St.1202b RESOURCES Aim LIABILITIES OF THE FEDERAL RESERVE BASKS AT CLOSE OF BUSINESS R E S O U R C E S F e d e r a l R e s e r v e Bank of Boston Mew York Ph.Ha.- C l e v e l - Richin. Atlanta. Chicago Gold and g o l d c e r t i f i c a t e s 11,143 73,215 1,0^0 10,06$ 2,399 ' "8,311 24,337 Gold S e t t e l e m e n t Fund - F.R.Board 38,857 103,300 3 3 , 9 2 3 69,399 13,807 8,615 7 0 , 5 3 6 Gold w i t h f o r e i g n a g e n c i e s 5,142 40,932 5,322 9>l46 5*465 4 , 0 1 5 13,272 T o t a l gold h e l d by banks 58,172 223,44? 4 3 , 9 3 5 88,610 2 1 , 6 7 1 2 0 , 9 4 1 1 0 8 , 1 4 5 Gold With F . R . Agents 115,850 285,182 87,705 144,059 35.492 50,889 166,944 Gold r e d e m p t i o n f u n d 13,278 33,993 13,330 4,150 11,590 7 , 8 6 s 25,815 Total gold reserves 193,300 542,622 144,970 236,819 68,753 79,698 300,907 Legal t e n d e r n o t e s , s i l v e r , e t c . 8,472 105,366 417 1,683 193 1,3&9 10,032 Total r e s e r v e s 201,772 647,988 145,387 238,502 68,946' 81,067 310,939 B i l l s d i s c o u n t e d : (a) S e c u r e d by Govt, war o b l i g a t i o n s 1 0 0 , 3 3 1 5 6 l , l 4 b 186,209 104,376 / 59,2bS 5 5 , 3 5 1 158,780 All o t h e r 68,035 279,189 28,749 55,419 ' 41,560 58,196 279,154 B i l l s bought i n open market (b) 32,253 179,007 2 , 2 2 7 57,304 9,619 5,739 54,943 T o t a l b i l l s on hand 200,61*9 1 , 0 1 9 , 3 4 2 2 1 7 , 1 8 5 217,099 110,447 119,286 492,877 U. S . Government bonds 560 1,457 1,386 833 1,235 ll4 4,477 V-4 S* V i c t o r y n o t e s 5 56 10 3 U. 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 21,750 72,876 30,829 2 3 , 3 5 ^ 12,260 15,666 3 9 , ^ 3 5 Total earning a s s e t s 222,334 1 , 0 9 3 , 7 2 5 249,400 2417298 123,942 135,069 536,989 Bank p r e m i s e s ' 1,293 3,500 50C 1,155 716 57 5 2,116 U n c o l l e c t e d i t e m s and o t h e r d a ^ „ „ , auctions from gross deposits 64,885 167,015 64,892 75>24o 61,369 2 3 , 9 3 5 112,373 % Redemption f u n d a g a i n s t F» R. Bank n o t e s 1,273 2,830 1,300 731 451 519 1,455 All other resources 44l 975 581 390 382 3 53 7 59 TOTAL RESOURCES 492,538 1,916,093 4-62,060 557,316 255,806 241,578 964,631 (a) Includes b i l l s discounted f o r o t h e r F . R. Banks, v i z : 17,402 (b) I n c l u d e s b a n k e r s ' a c c e p t a n c e s bought f r o m o t h e r F- R. Banks: W i t h t h e i r endorsement Without t h e i r endorsement - 78,544 - - - - 36,575 - - 2,988 - - JUNE 4, 1920. ( i n t h o u s a n d s of d o l l a r s ) S t . L o u i s h i n n . Kans-Cy- D a l l a s 2,830 7,204 442 5,284 11,534 8 , 3 7 7 2 7 , 8 6 5 6,890 5,242 3,011 5»353 2,300 19>6o6 1 5 , 5 9 2 33,660 1 5 , 0 7 4 45,931 32,695 3 7 , 2 0 7 27,539 5,797 165 3,693 6,431 71,334 5 1 , 4 5 5 7 4 , 5 6 0 4 9 , 0 4 4 7,064 195 1,417 1,335 78,398 51,650 75.977 50,379 61,89 5 13,409 3 1 , 6 4 6 4 2 , 5 0 1 55,203 1 , 4 3 3 , 4 1 5 7 5 , 0 9 1 35,409 9 7 , 7 3 3 1,130,843 4,266 1,396 1 , 0 2 5 59,787 410,oSS S C , 6 l 5 108,133 7 3 , 2 3 5 215,723 2 , 9 7 4 , 9 4 6 115 8,567 3 , 9 o 6 2 , o 3 2 26,795 1 ~ 69 8,468 12,380 8,300 11,526 274,816 8 9 , 2 1 8 1 2 3 , 9 8 1 91,501 2 2 3 , 8 8 1 3 , 2 7 6 , 6 2 6 548 660 7 82 231 12,942 , . . , , 2 3 , 8 0 4 68,451 4 5 , 4 b 6 34,717 7o9,616 49,368 62,940 3,122 114,385 1,153 17,150 132,688 866 , 47,403 523 46o 46l 916 287 201 260,345 165,881 276,272 - - - - San F r a n . T o t a l 12,199 164,519 35,094 431,227 5»131 111,531 55,424 707,277 81,3bS 1 , 1 1 0 , 8 6 4 10,599 142,712 147,391 l,SoO,853 544 13o,087 147,935 2 , 0 9 8 , 9 4 0 - 562 - - - - - 665 3 57 453 189,047 413,582 - 2,371 11,745 5,640 6,195,509 132,821 2,958 2,371 R e l e a s e d f o r p u b l i c a t i o n Sunday morning, June 6, 1920; n o t e a r l i e r . • S t . 1202c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS JUNE 4 , 1A20. ( In thousands of d o l l a r s ) L I A B I L I T I E S Boston New York P h i l a . Clevel» Richm. A t l a n t a Chicago S t . L o u i s Minn, Kans,Cy. D a l l a s San Fran Federal Reserve Bank of Total Capital paid-in 7,532 24,668 2,313 10,06s 94,102 3,251 4,310 3,694 6,370 4,798 3,737 13,127 M4o Surplus 6,116 3,030 7,539 120,190 8,359 45,032- 8,805 9,089 5,820 4,695 14,292 3,724 3,569 Government d e p o s i t s 1,344 1,564 1,371 3 , 1 7 6 3,4-55 9,322 3,221 2,876 1,459 2,328 3,99 2 2,037 3633 Due to members - Reserve account 120,127 753,272 103,593 141,792 59,862 53,076 263,033 62,585 49,421 20,139 53,162 118,646 1,855,774 Sc ^Deferred a v a i l a b i l i t y items 49,977 114,945 57,602 62,170 47,623 15,901 20,127 42,910 18,155 62,922 32,935 1-6,67^ d<*3 Other d e p o s i t s , i n c l u d i n g f o r e i g n /1. government c r e d i t s . 4,9 65 43.503 6.240 5.546 3,293 2,4q4 2.605 3,430 2,095 3.314 1,280 l & A w 99Total gross d e p o s i t s i?s,524 921,042 171,25b 212,384 112,243 73, 355,217 110,962 71,015 147,945 29,342" 152,396" 2,5967791 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 261,507 249,225 306,057 121,247 i46 275,353 539,895 129,301 79,165 99,029 23,677 233,311 3,127,291 F . R, Bank n o t e s i n c i r c u l a t i o n net liability 14,210 37,440 19,121 14,063 2,920 10,257 29 , 33 8 9,132 6,574 15,443 7,343 5,745 121,252 3 A l l other l i a b i l i t i e s M60 26.054 5.34o ....5,655 2.718 2.926 12.162 2.920 2,307 3,369 1,955 5,521 75,947 %M TOTAL LIABILITIES 492,595 1,916,093 462,060 557,316 255,206 241,572 964,631 260,345 165,221 276,272 129,047 413,222 6,195,509 MEMORANDA Contingent l i a b i l i t y as endorser on Discounted paper r e d i s c o u n t e d with other F, R. Banks Bankers' acceptances s o l d to other F. R, Banks Contingent l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n c o r r e s p o n d e n t s F. R» n o t e s o u t s t a n d i n g F . R. n o t e s h e l d by bank 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 B i l l s discounted B i ' j l s bought in open market U. C e r t i f i c a t e s of indebtedness 24,223 — 2,000 — 19,000 43,232 13,670 15,430 2,000 2 # ^SS 16,216 287,337 2,924 275,353 132,221 2,92s 16,216 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 967,069 262,633 322,447 125,952 150,042 579,619 145,996 80,729 103,4i4 86,224 265,121 3,377,189 105,262 13,408 l6,390 4,705 3,224 39.724 16,695 1,564 4.325 3,147 31.210 24q,2Qg 561,207 249,225 306,057 121,247 146,164 539,895 1 29,301 79,165 99,059 23,677 2 3 3 , 3 U 3,127,291 DISTRIBUTION OF BILLS AND U. 5, CERTIFICATES OF INDEBTEDNESS BY MATURITIES V i t h i n 15 days l 6 to 30 days 31 to 60 days 6l t o QO days Over 90 days Total 1,420,231 426,222 245,573 62,706 229', 520 2,564,252 112,306 163,403 43,200 410,628 91,779 8,300 , 4,796 11,560 214,291 . 274,216 35,569 Released, f o r p u b l i c a t i o n Sunday morning, June 6, 1920; not e a r l i e r . FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS JUNE 4, 1920( i n thousands of d o l l a r s ) Boston FEDERAL RESERVE NOTES: ,Received from Comptroller Returned to Comptroller Chargeable to F- R» Agent In hands of F . R. Agent I s s u e d to F . E. Bank l e s s amount r e t u r n e d to F . R. Agent f o r redemption New York Phila. Claval. Bichm. A t l a n t a Chicago St-Louis 246,463 1,080,171 295,287 397,251 165,334 74,376 114,616 6b,021 180,929 3,163,167 330,037 1,094,069 287,913 353,227 156,826 212,445 636,479 162,936 92,204 107,904 96,759 268,471 3,799,273 42,700 287,337 127,000 25,280 30,780 62,4oo 56,860 16,940 967,069 262,633 322,447 125,952 150,048 579,619 145,996 195,734 Gold redemption f u n d 17,950 16,448 Gold s e t t l e m e n t f u n d - F.R.Board 97,000 73,000 E l i g i b l e paper, rranimu : r e q u i r e d 171,487 681,887 174,928 178,388 287,337 TOTAL TO r " e S ™ BI ' T8SB Total 169,774 133,092 237,773 900 Gold and zold c e r t i f i c a t e s on hand San F r a n , 576,500 2,174,240 583,200 591,000 326,600 345,540 1,033,760 322,320 166,580 222,520 164,780 449,400 6,962,44c 30,874 SOLLiTERAL SECURITY FOR OUTSTANDING NOTES: Minn. Ivans.Cy. D a l l a s - 32,025 - 11,475 80,729 I03»4l4 4,010 13,052 2 , 500 - 9,935—M52 86,824 265,121 10,331 422,084 3,377,1^9 258,552 l,o46 2,347 5,974 15,712 108,698 46,oco 158,145 39,730 18,600 34,060 11,234 65,656 743,614 99,159 412,675 100,065 48,031 66,207 59,285 967,069 262,633 322,447 125,952 150,048 579,619 145,996 80,729 492,S63 114,349 67 , 557 MS.CTO 200,619 1,016,753 15,816 71,289 17,034 2,992 2,329 95,000 32,500 90,460 186,7S6 214,030 ICS,456 115,286 8,799 2,191 4,490 183,753 2,266,325 103,414 86,824 265,121 3,377,189 75,235 198,659 * 9 0 8 , 6 7 5
@FedFRASER