The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOR fHE PRESS Released for publication F r i d a y morning, March 10; not earlier. St. 2634. Federal Reserve Board March 9 , 1922 . CONDITIOF OF FEDERAL RESERVE BARKS Further gains of $ l 4 ,500,000 of gold and of $1 3 ,2 00 ,0 0 0 of total cash reserves, accompanied by a decrease of $39>50C>CC0 in earning assets and a connensurate reduction of deposits, are indicated in the Federal Re serve Board's weekly hank statement issued as at close of business on March 8 , 1922. No material changes are shown in the figures of note circulation. The reserve ratio shows a rise for the week from 7°-7 to 77-8 per cent. Federal reserve bank holdings of b ills secured by United States Government obligations show a decrease of $ 4 6 , 900,000 for the week, other discounted bills on hand fell off $ 29 , 700, 000, while acceptances purchased in open market increased by $ 6 ,2 0 0 ,0 0 0 , largely at the New York, Chicago and San Francisco banks. Holdings of United States bonds and notes show a further increase for the week of $ 2 5 , 500 , 000, substantial incraases under this head being reported by the New York, Chicago, Kansas City and San Francisco banks. Pittman certificates on deposit with the Treasury to secure Federal reserve bank note circulation declined $ 1 ,5 0 0 ,0 0 0 , while other Treasury certificates held largely by the New York, Chicago,Boston and Cleveland banks shew a further increase of $ 6 , 900, 000. Since the beginning of the year the Feaeral reserve banks have increased their hold ings of U. S . securities, other than Pittman certificates, by $2 2 9,30 0 ,0 0 0, while their b il l holdings show a reduction of $ 556 , 600,000 for the same period. Total earning assets show a decrease fox’ the week of $39»5C0,000, and^on^March 8 stood at $ 1 , 17 6 , 900, 000, compared with $3 , 523 , 500',000 at the beginning of the year, and $ 2 , 796 , 600,000 about a year ago. Government paper on hand shows a decrease for the week from $285,400,000 to $2 38,500,000. Of the total held $ 2 0 4,40 0 ,0 0 0, or 85 .7 psr cent, was secured by Liberty and other U. S. bonds, $1 9 ,8 0 0 ,0 0 0 , or 8-3 per cent, - by Victory notes, $ 6 ,4 0 0 ,0 0 0 , or 2«7 per cent, - by Treasury notes, and $7»9C0,000, or 3 .3 P©r cent, - by Treasury certificates, compared with $ 227 , 800, 000, $ 2 3 ,3 0 0 ,0 0 0 , $2 0 ,0 00 ,0 0 0 and $1 4 ,3 00 ,0 0 0 reported the weak before. Government deposits show a decrease for the week of $ 3 6 , 600 , 000, members* reserve deposits - a decrease of $ 5 , 100 , 000, while other deposits, composed largely of non-members1 clearing accounts and cashier’ s checks, increased by $ 3 , 300, 000. Moderate changes in the distribution of gold reserves are reported for the week. Philadelphia reports the largest increase in gold holdings, v i z ,, $6 ,3 0 0,00 0 , St. Louis and Atlanta each show an increase of about $6,000,0C 0, while smaller increases for the week aggregating $ 1 2 , 100,000 are reported by the Boston, New York, Cleveland, Richmond and Chicago banks. The shift of gold reserves was away from Kansas City, which reports a decrease of $10,000,000, and from San Francisco, which parted with $ 6 , 700,000 of gold during the week. Since January 1 of the present year the banks gained a total of $90 ,9 00 ,0 0 0 of gold. The largest increase, v i z ., by $4 2 ,7 00 ,0 0 0 is shown for Atlanta, Chicago with an increase of $2 7 ,0 0 0 ,0 0 0 follows next in order, while increases of over $ 1 0 ,0 0 0 ,0 0 0 each are shown for Richmond, St. Louis and Cleveland. The only bank whose gold reserves are smaller than at the beginning of the year is Boston, for which a decline of $ 6 2 ,4 0 0 ,0 0 0 is noted. Released for publication Friday morning, March 10, 1922; not earlier. St,2534a. RESOURCES Aiffi LIABILITIES OP THE TWELVE FEDERAL EES3EVE BAluCS CGJJ3IHED. (In thousands of dollars) R E S O U R C E S •nifA'.'lcLa. « G , 1922 Gold and gold certificates . . . . . . Gold settlement fund - F. R. Board . . 380,823 Total gold held by banks , . . . . . 1 1 , 1921 2 54-, 27 b a.r. 1 . 1922 3 20 ,40b 521,2.73, 528,21b 872,117 901,679 782 , 492 2 , 030,161 ___ 61,525. 2 , 965,273 1 ,982, Obi b7.b9^ 1,240,570 lbU.844 2,951,434 2,187,90b 1 2 8,0 87 129,359 210,018 Total reserves , ........................... 3 ,0 9 3 ,9 6 0 3,020,793 2,397,924- B ills discounted: Sec. by U.S. Government obligations. All other . . . . . . ....................... B ills bought in open market . . . . . 238,497 392,544 285,37b 422,175 101.931 Total bills on hand ........................... 732,972 ._ 2 U 3 _ 0 803,281 1,005,977 1 ,3 & 2 ,473 146,6 08 2,515,058 188,773 lb3,322 2 5 , 8bb 93,966 16 1,10 2 102 ?5,46b 9 254,375 154-,250 _______ 102 1,312 1 ,1 76,915 1 ,2 1 b ,421 2 , 79b ,b ll 3 7 ,3 94 37,232 20,193 8,173 8,362 12,728 505,782 605 ,ObS Gold with Federal Reserve Agants . , . Gold redemption fund . , . .................... Total gold r e s e r v e s ............... ... Legal tender notes, silver, etc. . . . U, S. bonds and notes . . . . . . . . U. S. Certificates of indebtedness: One-year certificates (Pittman Act) All other .............................................. Municipal warrants . . . , . ................ Total earning assets . . . . . . Bank p r e m i s e s ................... ...................... 5/S Redemption fund against F. R. Bank notes Gold abroad in custody or in transit . Uncollected items . . . . ................... All other resources TOTAL RESOURCES 3,300 9,885 __iad 53- 6 4 ,8 1 8 ,8 4 8 4 ,8 6 4 ,3 ^ 9 "/^ 5,845,709 L I A B I L I T I E S Capital paid in . ....................... Surplus . . . ............................... Reserved for Gov’ t, franchise ta: Deposits: Government................. . . . . I/fember bank - reserve account A ll other . . . . . . . . . . Total deposits P.R. notes in actual circulation . P. R. Bank notes in circulation net liability Deferred availability items . . , All other lia b ilities . . . . . . TOTAL LIABILITIES Ratio of total reserves to deposit and F, R. note lia b ilitie s combined . 101,003 202,036 1,530 103,73b 215,398 1,349 24,207 1 ,7 1 9 ,9 1 0 35,938 6 0 ,7 7 0 1 ,725.069 3 2 ,607 8 1,521 1,731,429 30,776 1 ,7 8 0,05 5 1,818,44b 1,843,72b 2 ,1 9 7 ,4 3 4 2 ,1 9 6,98 3 3 ,0 05,840 79,633 424,418 _ _ i6_o7S 432,241 4 ,8 1 8 ,8 4 8 4 , 864 , 4-40 103,802 215,398 7 7 .$ * Calculated on basis of net deposits and 80,095 18 2 ,087 Ub7 ,221 , ^79b 5 , 845,709 7b. 7^ notes in circulation Released, for publication Friday morning, March 10, 1922; not earlier* St. 2b3Uh. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS M'HCH 3, 1922. (In thousands of dollars) R E S O U R C E S Federal Reserve Bank; of Boston New York Phi la. Cleve. Rich. Atlanta Chicago St. Louis .iinn lans.Cy. Dallas San Fran. Total 2 ,113 12,585 g ,052 Gold and gold certificates 283,422 2,832 5,217 22,861 2,609 8,g94 19,270 3,639 9,329 380,823 Gold settleisent fund - F .R . Board 65,139 41x913. .J J l,3.S5 24,770 96,443 2 8 ,2 18 29,366 35.269 24,4 25 _ . 5 ^ 1 1 ? 17,395 4qi.2Q 3b. 853 ...■ -: .is----...... ^ ~s 4■ Total gold held by banks 339,540 67,252 56,498 36 ,2 17 29,987 119,304 31,357 38,695 3 7 , 87s 2b ,289 5b ,123 32,477 8 72 ,117 740,909 142,440 185,300 36,204 80,991 340 , 35 g 75,522 2 9 ,114 3 b ,447 10 ,bb 2 225,367 2 , 030,161 Gold with F. R. Agents 12b,g47 15,40b Gold redemption fund 10,000 7,234 6,349 5,612 2 ,3 1 5 6,909 1,400 1,547 1,775 1,89b 3,152 ■ *—*---is.*—^----b3,595 sf y Total gold reserves 174,730 1 , 090,449 216,926 2 4 S , 147 78,033 113,293 466,571 108,926 69,209 76,100 38,847 284,642 2 , 965,873 Lejal tender notes, silver, etc. Total reservesB ills discounted: Secured by U .S.Govt, obligations A ll other 3 ills bought in open market Total b il l s on hand U. S. bonds and notes 2 1 ,9 2 5 35,128 41,279 49,100 2 7,152 13,048 ,____ 34 , 17 .9. l b ,592 102,610 78,740 53,85b 4,8b2 63,024 14,724 12,373 2 8 ,8 80 1 2 x 6 0 3 31,400 7 9 .9 S 4 Municipal warrants Bank premises 5/o Redemption fund against F. R. Bank notes Uncollected items All other resources 7,523 196,655 1 , 125,577 225,319 255,670 U. S. Certificates of indebtedness: One-year certificates (Pittman Act)1 8 ,450 A ll other 25,337 Total earning assets 8,393 8 ,000 27 20,990 3 s ,296 3 ,9 8 0 6 ,g55 4,731 14,452 609 84,888 118,024 478,642 123,378 69,818 30,416 40,067 11,4136 34,398 2x533 1,009 12 ,0 71 27,154 57,34b 19,570 22,379 1,287 46,893 104,070 33,322 b3,2bb 73 , 07b 18,3gO 1,233 114 6 ,0 0 0 17,173 3 ,5 6 0 7,36b l 7,713 29,359 3b 5,091 31,947 15 19,528 41,579 10,067 ----------1 v . 238,497 39 2,54 4 101,931 3 1 .804 1,9 14 3 7 ,1 08 37,053 2,81b 7 1 ,1 7 4 732,972 14,870 188,773 4,350 1,234 4 ,8 2 0 132 1,900 5.882 15 16 1,10 2 9,656 31,197 5,255 g,bb7 3 ,5 7 1 30 ,b 0b b,5gg 5 ,2 5 4 1. 6,1 2...1 . . . 5,025 128,087 f—— s *, ,X-} < 81,354 44,3b8 289,667 3 , 093,960 3 ,7 H 2 g , 0 9 3 3 0 ,3 8 4 102 32,505 9 3 ,9bb I C iO 277,018 101,593 104,824 77,869 39,302 72,4 44 41,769 643 881 4 ,7 4 0 2,105 g44 665 2,023 316 916 136 394 8,173 13,784 35,5b5 22,827 33,935 486,190 1,100 638 2,0b7 5 ,1 8 4 16,216 4,972 7,375 600 422 l,40b 700 539 188 43 ,S2b 91,979 3 9 ,3 1 s U2,4l4b 42,072 *1,247 59,451 ^9,740 bOb 3 ,8 4 7 2 lfb .....753 203 10b 1,043 423 4 ,3 9 7 2,569 1,125 7,143 4b8 9 1 ,9 4 1 1 :,17b ,915 3 7 ,3 9 4 338 , 98b 1 , 507.202 3b7,77b 408,629 207,789 195,344 731,484 204,943 125,201 195,657 113,872 421,965 4 , gig, g4g Released for publication Friday morning Mar. 10, 1522 ; not earlier RESOURCES AND LIABILITIES Of THE Federal Reserve Bank Capital paid in Surplus Reserved for Govt, franchise tax Deposits: Government Member bank - reserve account A ll other Total deposits F. R. notes in actual circulation F. R. Bank notes in circulation net liability Deferred availability items A ll other lia b ilitie s TOTAL LIABILITIES Bos ton New York 7,969 16,483 123 27,062 60,197 323 2,269 111,098 862 114,229 155,152 6,049 1,9 0 1 521 582 17,092 72,888 918 3,286 7,878 37,753 731 5,778 38,676 76.5 77.7 438 1,825 2,901 44,533■245,505 463 2,528 55,784 249,858 5 4,7 64 698,074 10 7,159 132,388 628,280 187,346 196,839 8,208 35,904 94,199 1,096 Contingent lia bility on b ills purchased for foreign correspondents 2,336 11,79 6 2,560 2,624 2,073 70,884 1,082 74,039 83,328 369,533 952 42,554 470 1,467 71,055 683 73,205 47,162 52,590 61,960 29,015 2,887 5,757 15,928 675 8,301 3,339 3,775 5 6 ,240 29,524 655 12,632 961 8,981 36,4 30 728 56.6 74.1 7 7.3 72.4 72.3 60.2 1,568 1,15 2 4,043 3,808 864 1,504 ' Total 103,802 215,392 1 ,5 3 0 1,980 1 ,687 24,207 44,225 Lis,666 : ,7 1 9 ,9 10 957 15*891 35,938 44,016 3,118 37,211 682 338,986 84.9 St.2 d 34c. (In thousands of dollars) L I A B I L I T IE; s Phila, Clev^. Rich, At!lanta Chicago S t .Louis Minn, Kans.Cy. Dallas 1 San Fran. 8,854 11,343 5,488 4,223. 14,484 3 ,5 6 4 4,105 4,601 7,380 4,639 17,9 4 5 22,509 11,030 9,1141 29,025 9,388 7,468 9 ,646 7,394 15 ,19 9 110 277 365 106 31 195 681,233 104,242 131,111 io., 792 1,0 16 756 Ratio of total reserves to deposit and F. R, note lia bilitie s combined, per cent 7 3 ,0 F, R* notes outstanding F, R, notes held by banks :: !AL RESERVE BANKS AT CLOSE OF BUSINESS MAR. 8, 1922. 21,669 1,550 59.0 1,536 4,519 29,563 1,253 79,633 424,418 16,578 79.6 832 7 7 .S 1 , 1+72 32,052 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION l 6 l ,184 6,032 B " T i l ^ I S 1 : 99 | 3 f $ 5 2 f ^ F, R, notes in actual circulation 155,152 B ills discounted B ills 'bought in open market U* 3* Certificates of indebtedness Municipal warrants 628,280 187,316 196,839 94.199 m . 3 « 5 369,533 83,328 52,590 61.960 29.015 2277«07 2 , 19 7 ,431* DISTRIBUTION OF B U I S , 0 . S. CEHTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARBANTS BY 'MATURITIES Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 90 cLys 345,054 76,492 102,340 69,709 37,446 43,171 14,427 23,186 1 6 ,64o 44,998 4,507 13,909 10,587 500 185,074 /£ K Total 631,041 10 1,9 3 1 2 5 5 , 06s 102 Helens el for publication Friaa* tu>rnin6 , Mar. 10 , 15 ^ , not earlier. federal reserve agents' accounts at close of eusiness m ar. s t . 2634 a. s, 1922 . (In thousands of dollars) Federal Reserve Agent at Boston New York Phi la. Cleve. Rich, Atlanta % Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. R E S O U R C E S Federal fieserve notes on hand Federal Reserve notes outstandir Collateral security for Federal Reserve notes outstanding; Gold and gold certificates Gold redemption fund Gold fund - F. R. Board Eligible paper Amount required Excess amount held TOTAL 131,050 161,184 352,020 5,600 296,924 11,247 32,985 411,000 110,000 34,337 19 .519 24,260 805,391 i00->307 13.375 2 ,400 3 .4 0 9 32,795 5,960 4,591 14,713 74,000 525,645 65,100 62,355 24,785 8,537 64,482 22,348 41,711 472,937 1 .9 8 ? .1 5 0 462,542 495,686 234,595 316,465 4-, 462 11.230 7,395 55,^50 69.953 13,052 2,862 13,200 2,087 34,360 26,336 33.506 4,422 3,602 Total 883,101 6 ,7 0 1 344,012 2,477 18,807 121,616 1 ,4 8 4 206,5o0 1,564,533 ), 2.4/ " 975.317 233,411 122,717 154,738 100 , 48,824 2 2 , o4o 510,282 j 606,922 6 , 160 ? L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of the Currency Collateral received from Federal Reserve Eank: Gold Eligible paper 292,234 1 , 15 7 ,4 1 1 248,308 247,637 125,782 188,910 -^>847 _ 5 3 r85o 7 40,909 142,440 185,300 86,830 71,79 4 6 2 4749 3 6 ,2 0 4 80,991 72,609 46,564 TOTAL * 23^,595 3 ^ T 530,893 124,567 62,345 81,183 340,358 104,066 2 9 ,114 30,758 36 , 41+7 3 7 , 10 s 53.083 310,691 3 , 423,544 2S-? 3 75,522 33,322 1 0 , 662} 225 *3^7 2 , 030 , 1 6 1 ] 36-t478 70,86 4 7 oG~S32,J 975.317 233,t o i s . 717 15H.73S loo.eej, STATEMENT F0~ THE PPSS3 St.2bUS Federal 3e serve Boarc Released for publication Friday "o m in g , 'Tarci 17; not earlier. larch lb, 1922. cq :~ i t i o : t o f f e d e r a l h e s e h v e ^a k l s Aggregate reductions of $ 53 ,500,000 in the h o l i ii.s os discov^ted and purchased b il l s , as against an increase of *128,200,000 i... tr.e olc.ir..:.s o_ ‘.Treasury c e iui-icates, acco:vrpanied by an increase of $133 , 400,000 in 'ootal c.eposits .and a xedue^io... of $8 ,8 0 0,00 0 in Federal reserve note circulation are inc.icatsa. m tne jeaerai :wserve Board's weekly bank statement issued as at close of Business 01 ;-.arc.:. 15> lS1^—Gold reserves show a gain of $ 1 0 , 100 , 000, while total cash reserves increased by $ 7 , 400 , 000. The reserve ratio, in consequence of the above c.ranges. snows a decline for the -reek from 77*8 to 75 . b per cent. Government operations during the week included besides the redemption ox t:ae ou.;. of about $ 530 , 000,000 of tax certificates maturing on I.ferch 1 5 , payment of semi-annual interest 011 about $ 3 ,b 0 0 ,0 0 0 ,0 00 of Third Liberty bonds and $ 350 , 700,000 of Treasury notes, also the handling of the first installment of income tax payments and the issuance on the same date of over $b00,000,000 of new Treasury notes and of $2 b b , 250 , 0-0 of tar: certificates. Dis'cou_.~ed b ills show a decline for the week of $3 5 ,3 0 0 ,0 0 0 , while acceptances purchased in open market fo il off about $ 1 4 ,6 00 ,0 0 0 . United States bonds and notes increased by $2 b ,2 0 0,0 00 . Pittman certificates on deposit with the Treasury to se cure Federal reserve bahk note circulation show a reduction of $2 ,0 0 0 ,0 0 0 , while other Treasury certificates show an increase of $13 0,20 0 ,0 0 0. At the close of the .day seven of the Federal reserve banks held a total of £1d7,0-0,000 of special cer tificates to cover advances to the Government pending collection of income tax checks and funds from depositary institutions. In consequence of the changes noted total earning assets increased by $100,b00,000 and on March 15 stood at $ 1,277,500,1 000 compared with $2 , 658 , 500 , 000/ the corresponding date of last year. Government paper on hand shows a further decrease for the week fro.:'. $ 238 , 500,000 to $225,100,000. Of the total held $158,500,000, or 3b.7 per cent, m s secured by Liberty and other U. S. bonds, $lb ,b 00 ,0 0 0 , or 7*2 per cert,- by Victory notes, $7 ,1 0 0,00 0 , or 3 *1 per cent,- by Treasury notes, and $ 6 ,9 0 0 ,0 0 0 , or 3»0 per cent,by Treasury certificates, compared with $2 04,400,000, $ 1 5 ,8 0 0 ,0 0 0 , $b,U00,000 and $7 , 500,000 reported the week before* As against a decrease of $7,4-00,000 in Government deposits, members1 -reserve de posits show an increase of $ 12 5 , 600,000 and other deposits, composed largely of cashier's checks and non-members * clearing accounts - an increase of $ 1 5 , 200 , 000* These increases represent mainly payments to the credit of the bariis for matured cer tificates and w ill largely be wiped out during the following days as income tax checks drawn on the banks are cleared. A movement of gold in some volume from Hew York, mainly towards Chicago, Phila delphia and Cleveland is shown for the week. Gold reserves of the Hew York bank show a decrease for the week of $ 3 U , 000, 000, while smaller decreases aggregating $10,500,000 are shown for the St. Louis, San Francisco and Richmond banks. The largest accession of gold for the week,by $24,400,000, is reported by the Chicago bank. Philadelphia and Cleveland report increases in their gold reserves of over $ 10 , 000,000 each, while five other reserve banks report aggregate increases in their gold reserves of $1 0 ,3 00 ,0 0 0 . Since January 1 of the present year the reserve banks have gained a total of $101,000,000 of gold. The largest increase, v i z ., by $51,400,000 is shown for Chicago, Atlanta with an increase of <§43,900,000, and Cleveland with an increase of $2 2,300,000 follow next in order. Increases of over $10,000,000 each since the beginning of the year are also shovm for Minneapolis, Kansas City and Dallas. Boston and Hew York show smaller gold reserves than at the beginning of the year, the first reporting a decline of $ 60 , 500,000 and the latter a decline of $ 24 , 700 , 000. Released for publication Friday morning, March 17, 1922; not earlier. St.2649a. RESOURCES AM) LIABILITIES OF THE 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 . Total gold held by hanks ............... Gold with Federal Reserve Agents „ Gold redemption f.jii „■....................... 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 Eills bought in open market . . . * Mar. 15, 1922 321,233 us.u.iso Mar. 2, 1922 380,823 491,294 Mar. 18, 19 266,431 513.572 805,463 2 ,090,124 SO, 435 872,117 2 ,030,161 63,595 780,003 1,257,807 167,729 2,976 , 022 2,965,273 1 2 S , 087 3 ,093,960 2,205,539 2,414,789 238,497 392,5^4 1 , 000,386 1 ,224,533 125,375 3,101,397 229,06s 362 ,662 209,250 ... S 7 .3 H 679,041 101,911 122,720 732,972 215,093 122,773 2,3^7,699 25,864 92,000 291,274 102 93,966 16 1,10 2 254,375 30,576 . , . . . 1,277,510 1,176,915 2 ,658,514 Bank precises 5$ Rsdamption fund against F„ R. Bank notes - r . . . . . . . Gold abroad in custody or in transit. Uncollected items ............................... A ll othsr resources r 33,005 37,394 2C.465 8,173 Total earning assets TOTAL RESOURCES ........................... 102 - 15^310 . 16,216 12,422 3,300 716,882 — SU.891 5,042,022 4,812,848 5,836,269 103,94s 215,39 s 1,570 103,802 215,398 1,530 202,036 16,729 1,245,493 51,121 24,207 1,719,910 35.938 58,729 1,677,774 .38,072 1,913,463 2 , 122,593 1,780,0^5 2,197.434 1 , 774,635 2 ,962,250 72,029 529,9 12 424,412 79,633 ...J i_lQ 2 _ 16^78 179.250 570,347 46,063 4,818,242 5 ,836,269 0 0 U„ S* bonds and notes ....................... U. S, Certificates of indebtednessOr*c-year certificates (Pittman A c t). A ll other Municipal warrants 01 . . . . . . . 03 Total bills on hand _ 607,795 42 6,19 0 L I A B I L I T I E S Capital paid i n . . . . . . . . . . . Surplus .......................................... . . . Reserved for Gov't, franchise tax « . Deposits: G o v e rn m e n t...................................... ... Member bank - reserve account . . . A ll other . , . . ............................... Total deposits . . . . . . . . . F.R. notes in actual circulation . "c. F .R . Bank notes in circulation net liability . . . . . . . . . . . Deferred availability items . . . . . All other liabilities TOTAL LIABILITIES ................... . Ratio of total reserves to deposit and F . R. note liabilities combined . . 5,01+2,022 75. 77-8$ 101,058 51-056 Released for publication Friday morning, Itxrch 1 7 , 1922 ; not earlier. xuloOJRCES Federal Reserve Bank of St. 2bty^b* LIABILITIES OF THE EEDEB.L RESERVE BAIKS AT CLOSE OF BUSINESS MARCH 15, 1922. (In thousands of dollars) R E S O U R C E S Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St. Louis Minn. llans.Cy, Dallas San Fran. Total Gold and gold certificates Gold settlement fund - F. R. Board Total sold lieId "by hanks Geld with F. R. Agents Gold redemption fund Total gold reserves Legal tender notes, silver, etc. Total reserves B ills discounted: S j cored by U.S.Govt, obligations A ll other B ills bought in open market 'Total b ills on hand U. S. bonds and notes U. b. Certificates of indebtedness: One-year certificates (Pittaan Act) A ll other ’.'tunic ipal ’warrants Total earning assets Barjk premises % Redemption fund against F. R. 3ailk notes Uncollected items A ll other resoxirces TOTAL RESOURCES 2 ^ ’ r?k 2 R?'inQ c?’?37 2,855 ---51*^09— ^7 , 59g— 24,^33__ 3°,SS2 34,051 275, 7 ^9,725 b o ,370 5 ’2 3 ? 80,874 23,300 11,891 I S ,652 35,2b5 321,223 434.130 33,737 31,224- 103,350 27,349 41,240 39,157 27,346 53,917 305, 1+63 25,9Sb 22> ^ U ' 0^ 9-34-9 2 ,6 4 3 3b, 509 9,039 13,307 3U’353 80’7°9 374,293 74,577 23,379 37, 5^4 10, 287221, 7052, 090,124 7,077 2 , 5bO 12.364 _______ 2 rU77_______ 2,1 2 3 2 ,7 .7 0 05 5 2,2?r>« * 2 2 03 5,357 3 0 ,U35 17b,b 05 1 , 050,470 227,007 253,1+37 75,lb 7 114,493 491,007 104,403 71,747 79.366 40, 3U1 230,975 2 , 576,022 -ifLbSS---2.4,021— jjJ_53., 7,273 6,674 4.671 12.293 15,060 612 5.102 5 . 33S 4,353 125,175 l ^ , d 63 ■ ‘•,^ 50,951 23j , 7&0 205,710 31,341 115, lb6 503,305 115,463 72,359 34, 46s 46,179 235,332 3 , 101,397 ^IM S 'I n ’nnn 1S? ’ 59U 10 i0 0 0 _ J ;0 i IfiS___ 4 ,5 73 14,435 2 1 ,5 5 4 IP-.3 57. 46,440 2 o ,323 4,477 S,450 S,450 25, 76s - 32,b 01 11,231 32,535 2j(.3c9 . 1.7o3 75,332 45,579 40,422 21,223 55,254 23,423 15, 69b 52,726 75,30s 77,343 14,725 1,233 114 33,559 30,400 3,000 5,02b 3,5bO — 7,199 l 29,941 177,297' - S5,135 377,771 4,523 7,57b 422 1,331 55.14S 123,S14 459 2 ,330 ,603,423 102 103,161 110,071 600 4,675 700 539 - - 93,155 8,667 29,319 30,bS 0 1,905 b,l30 3,571 3,312 - lb5,322 2 ,5 70 52,893 1,126 138 46 s bb5 30,125 .7,187 91,471 1,444 769,394 3',-b53 7,419 - 47,232 . 4,350 3,532 643 20,017 229, 06s 362,662 29 4,139 31,199 15 3 3 ,992 35,353 2,318 65,172 30,422 2,81b 23,799 215,093 4 ,3 2 1 49 1,900 1,250 5,522 10,005 52,000 251,274 102 : 1,247 - 5b , 3SO 47 , 437 27,397 27b 626 . -...131 146 352,640 :433,005 212,252 ;201,196 54,143 16,673 2,406 20, lob 27,027 2b , 5 50 - 3 b ,843 - - 40,467 63,350 41,315 104,564 259 4 ,743 2,155 244 2,023 223 51b 136 32,066 14,091 40, 33s 24,0bb 414 676 ,—--J 2,059 1,125 .202,441 129,164 159,991 115,914 37,311 679,041 L,277,510 32,005 394 8,005 41,444 607,795 5,514 J* 1^ 110 ________ - - 438,112 |5,043,022 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 m o R E S O U R C E S r n i n A N D g s t a L I A r . B 1 7 I L I T , 1 9 2 2 , I E S O F n o t T H E e a r l i e r F E D E R A L . R E S E R V E ( I n t h L Boston B o s t o n Capital paid in Surplus R e D s e e r v p o e s d f o i t s M e m b e r b a n A l l o e r o t h t a d t e s n o F , R . B a n k e t l i b f e r r e l l o a d t h a e r a t i o n C o o n o t i n f o r i a e n f o - r r e p o n c h i s e t a 7 , 0 3 3 6 0 P h i l a 8 , 8 5 5 1 1 , 4 , 1 9 7 1 7 , 9 4 5 2 1 2 1 , R . n o a n o s l i i v t e t a s e r v e a c c o u n 1 0 t 9 , 5 i l a b B i l i i t t l e i g c t u a l c c i r i n b l I L l 1 1 2 i r c c u u l a l a t i o t i o 1 5 n n t e i l i t i t I T r e i e i a b n c o s o . R . n o t e F . R , n o t e s i i e s r v 8 2 7 , 8 1 4 8 , 3 6 5 7 , 5 5 3 1 4 , 1 5 1 4 e s t o y o n r r e s p o d e b i n e d , b n d i e n l l p p s o s i t e r p a n c e n u r c h a 4 d t 7 l l s d i l l s b U M . S u n . d T I B s I L I Rich, 5 6 , 5 0 9 o O F l l a E r s B U S I N E S S 1 5 , S 8 9 4 , 2 3 1 1 4 1 1 , 0 3 0 9 , 1 1 4 2 9 , 0 3 5 4 - 2 9 0 s t . 2649c . 1 9 2 2 . Kans.Cy* Dallas San Fran, Atlanta Chicago St.Louis Minn. , 4 5 M A R . ) , 4 8 3 4 , 6 3 9 9 , 3 8 2 5 3 7 4 1 1 4 , 2 0 2 7 8 9 , 6 4 6 7 , 3 4 1 5 1 8 9 7 2 , 5 6 7 , 4 8 * 3 6 , 6 9 , 3 8 4 , 1 9 9 T o 1 0 3 2 t a 8 , 3 9 8 1 , 5 7 0 1 5 — l , 9 4 :L 1 0 3 4 . 5 3 3 1 , 7 6 4 s u h t s t a e l d i n a n b c d i n y t u 1 5 g b a n a l k s c i r c u l a i s c o o u g h C e r i c i p a l u n t 5 t i o n a d a r r a o p e n t n e s t s o m f a r k e t i n d e b t e d 8 , 4 0 0 1 , 8 0 0 5 5 , 1 7 :1 1 3 , 7 3 1 1 5 0 , 9 5 5 5 6 , 8 6 :1 8 8 , 1 6 7 1 9 5 , 7 2 9 7 , 9 1 5 , 8 1 2 2 6 , 5 0 1 1 5 , 8 5 1 4 1 6 , 5 7 2 7 1 , 2 1 4 9 , 5 8 9 8 6 9 3 4 , 7 5 9 9 5 , ^ 5 0 F R . 5 . 0 2 , 2 1 5 S 1 3 , 6 0 7 , 9 0 2 5 , 0 8 8 3 , 8 i t h 3 i n t i f i c w t e 7 2 7 5 5 1 4 -2 6 3 U , 5 1 , 7 0 , 9 ^ 6 9 7 3 2 6 6 2 , 3 6 0 6 8 , 5 7 0 6 8 3 6 9 , 5 8 2 , 4 5 7 8 , 3 5 8 1 , 4 7 5 2 4 3 , 4 3 3 , 4 7 9 ' 4 , 6 5 0 9 7 1 , 3 8 0 4 , 9 2 7 6 2 5 5 3 8 6 3 1 + 1 2 6 4 , 7 5 9 7 , 7 2 5 2 , 4 3 0 4 0 3 2 , 7 5 7 1 0 2 7 8 , 7 7 7 6 2 , 1 2 8 , 6 8 3 3 6 9 7 1 1 2 2 , 9 3 0 1 , 1 6 7 4 7 , 4 2 7 1 4 4 , 8 7 6 2 8 , 6 8 9 2 5 , 5 0 4 2 , 8 2 9 4 , 3 2 2 2 0 2 1 6 1 2 , 2 1 , 8 , 9 9 3 , 7 8 9 4 5 , 4 9 3 5 1 , 1 8 1 1 3 , 4 6 3 , 5 9 3 7 8 , 0 2 9 2 , 9 1 2 1 , 9 2 , 1 8 8 7 , 6 2 6 3 , 7 1 1 3 , 4 2 3 7 8 . 0 1 0 , 9 5 5 7 , 1 3 7 5 0 1 , 0 7 1 3 3 9 2 , 6 4 7 7 . 4 2 , 4 n e s s , ^ 0 4 3 8 , 0 7 6 . 6 2 , 5 3 , 0 4 7 3 1 , 9 8 2 5 , 6 9 1 8 6 9 4 7 3 0 2 5 2 1 2 , 2 5 ^ . 6 9 5 3 7 5 , 8 4 5 2 0 1 , 1 9 6 , 1 0 5 9 , 3 4 7 8 , 9 3 , 6 7 6 7 3 ' * + 3 7 8 4 6 7 9 2 , 2 9 3 ,8 2 0 3 , 3 3 8 3 , 1 8 2 1 2 , 9 8 9 3 8 6 3 5 2 0 7 2 9 3 5 , i + l 6 3 , 4 4 i 1 2 . 0 9 7 2 , 1 6 2 7 3 0 4 1 9 9 . 9 6 0 . 0 1 , 4 , 2 9 1 H , 6 9 1 3 9 , 5 9 3 1 , 6 8 2 1 , 2 4 3 5 6 , 9 0 l ^ 4 . 7 3 8 3 5 9 1 7 , 1 1 2 5 , 1 0 9 , 0 4 8 , 0 2 2 7 7 - 0 7 5 * 6 s e d t s W i f 7 7 2 , 0 9 1 5 c o m i t s 3 S e i t e m 5 7 3 s I E s l y , 0 1 , 4 3 8 9 5 2 1 7 9 m . 4 ' 6 9 , 4 2 2 , 9 1 +1 4 6 4 i n 1 5 d a y s 2 0 0 , 5 0 D I S T R I B U T I O N B C L O S E o d - y t a b F B 2 A T - 5 2 F E D E R A L F A C 1 2 3 8 2 I e Clleve . . 6 1 1 9 x s i t s i n t o l g e L I A f t e f r a 2 6 1 7 k l i a T O T A L R v t , 9 1 , 8 l 3 . e o 6 , 4 e n t , n 1 6 Y o r k York e w B A N K S s a n : o v e r n m F A G G T D r 7 , 9 N o u CTv e M O R 3 1 5 1 O F 1 8 B 8 I L , 6 , 5 R E S E R V E 9 1 2 4 , 1 6 7 L 1 3 S , 1 6 2 1 3 , 8 1 8 U 3 1 4 , 7 7 5 . S . t o N O T E S , 1 0 1 9 2 1 , 5 9 9 9 0 2 1 , 1 0 O U T S T A N D I N G , 3 1 2 1 1 3 0 8 2 7 3 , 1 7 2 7 , 7 2 3 1 8 1 6 7 , 3 6 2 1 4 d a y s 6 , 1 6 3 6 , ^ 6 6 5 , 5 5 2 , 9 4 6 1 1 0 , 6 1 3 C E R T I F I C A T E S 1 7 , 4 3 OF 3 1 4 A N D 4 0 0 3 6 , 3 7 I N 8 1 , 4 6 , 8 6 9 , 5 7 5 8 9 9 , 0 1 3 1 6 t o 9 , 7 0 7 2 , 7 6 3 6 0 7 , 7 0 3 , 8 3 , 7 0 d a y s 5 1 3 0 102 8 2 8 6 2 , 6 0 5 4 , 9 9 5 2 5 2 A N D 6 M l 7 1 1 1 7 9 7 1 , 4 1 0 3 0 , 3 4 3 C I R C U L A T I O N 2 , 4 5 7 I N D E B T E D N E S S 5 1 A C T U A L 6 3 4 , 4 , 5 5 7 7 6 U N I C I P A L t o 6 9 0 7 , 2 1 2 2 3 , 1 0 1 0 , 5 8 , 3 6 8 , 1 2 3 3 2 8 W A R R A N T S d a y s 2 5 0 0 7 1 8 O , 1 , ^ , 6 8 B Y 6 0 7 1 8 9 2 7 2 , 8 6 9 2 , 5 2 7 , 7 7 2 3 3 9 * + 7 , 3 6 5 2 M v e r 3 1 9 2 3 2 5 , 5 0 4 2 , 1 8 8 , 1 7 , 5 9 3 o t a A T U R I T I E S 9 0 , 1 4 5 4 , 9 7 , 9 4 6 9 T d a y s 6 5 3 9 1 , 7 3 l 0 8 7 , 3 1 1 8 3 , 2 7 4 102 9 1 R eleased fo r p u b lic a tio n Friday morning, focir, 1 7 , 1922, not e a r l i e r . F E D E R A L R E S E R V E A G E N T S ' ( I n F e d e r a R E l R S e s e r v O U R e A C g e n E t a on hand F e d e r a l R e s e r v e n o t e s o n e d e r a l R e s e r v e n o t e s o o l l a R e t e s e O G r a r v e d d l a o l d G o E l i g s e n o t e n i g r e d l a f u i b n c u s - F e r e u o u n t r c e a m s s t i o a p E q f o e n . r u r t s t a c p A m x u l d p d i t y o o e m l e r B h F n e d i n g : a t n R . B n e t i f i c f u d a n d t s t a N C e t I a m n o t e t r o o l l a F A e d J E B o u n t s r l l e r t e r a r a l e o I i r e e I o f F e c e i v e d r a e i n g o f l r e R e c e I e r a f r o m t h e C i v e s e r v e p a p e r i d l i g l e T 0 T A L 14 » Y o r k P 5 0 346,770 3 4 6 , 7 7 0 , 9 0 2 7 9 5 . 9 4 1 0 3 5 6 , 9 2 5 8 , 9 6 6 3 2 1 5 8 s 1 , 0 5 . 3 d o a r d e l d 1 1 0 , 0 3 4 , 6 1 1 , 8 u d B E h i l a . C l e v e . R i c h s . o A f d o t l a n t a l l a r s C h B U S I N E S S M A R . 1 5 , 1 9 2 2 . ) i c a g o S t . L o u i s M i n n . K a n s . C y . D a l l a s S a n F r a n . T o t a l 46,960 2 4 6 , 9 6 0 0 1 3 , 6 9 33,300 2 3 3 . 3 0 0 1 3 , 8 3 1 1 3 . 3 7 5 24,620 2 9 4 9 , 6 . 3 2 70,966 0 7 0 1 2 1 1 6 118,440 , 9 6 6 1 1 8 , 1 6 3 4 0 6 , 3 8 8 , 4 4 24,C60 0 2 4 , 0 9 ,7 15 6 0 - 9 9 1 . 0 6 2 9 , 7 1 0 1 5 5 4 , 9 9 5 2 , 7 3 0 70:511 7 0 , 5 1 1 3 , 1 4 4 4 , 3 6 0 3 3 . 0 0 7 32i107 272,869.2,527[772 0 0 0 3 8 3 6 2 0 , 7 4 - 8 1 3 . 3 9 5 1 3 , 2 1 9 3 . 3 8 9 1 6 0 , 0 0 0 3 7 1 , 0 0 0 9 6 8 5 6 , 9 0 7 2 7 , 2 5 0 . 0 8 8 7 , 1 1 1 2 8 1 3 - 2 , 4 0 0 4 , 5 5 8 2 , 8 0 9 2 9 , 7 9 5 0 6 4 , 9 9 — 1 5 , 6 3 5 8 4 $ 7 5 . 5 0 , 6 4 4 3 , 4 5 4 3 2 , 0 9 , 7 8 8 6l,o4o 5 , 9 6 0 1 3 3 1 7 2 , 0 6 5 , 6 0 0 , 0 5 , 1 2 1 3 , 2 0 2 ? 0 3 6,701 40^,713 2,102 16,583 118,317 1 ,434 205,122 1,568,094 l 4 4 6 0 , 6 5 8 1 2 8 , 9 5 2 1 , 9 9 6 , 2 , 0 9 7 , 7 4 0 4 6 1 , 4 5 3 4 8 9 , 0 , 7 1 1 2 5 0 5 2 7 , 1 3 , 5 9 8 0 5 . 3 7 , 5 5 9 5 8 5 2 3 0 , 8 2 9 3 1 2 , 9 3 1 8 5 1 3 , 0 2 4 , 4 8 5 9 5 5 8 0 9 9 2 , 2 5 6 2 2 7 , 1 2 9 5 2 4 , 8 2 8 1 2 , 3 3 6 , 6 1 6 3 , ? - 3 1 2 2 , 0 4 8 1 5 6 4 , 7 1 0 8 1 , 2 2 2 21,820 551 o q x 4 7 , 5 1 8 2 , 7 4 437 64s 51,164 13,803 13,533 3 9 8 , 3 4 7 6 0 2 1 5 2 , 7 0 3 1 5 , o 4 i 2 12,4 17 6 , 1 4 7 , 6 7 2 S R e s e r v C o m r r e n e p * c y 9 , 1 4 6 , 6 1 4 1 3 2 3 , 1 2 2 7 , 5 0 4 7 , 3 6 9 , 9 6 7 3 , 4 0 7 , 4 8 3 6 5 f r o m a n k : 7 7 0 i b N e w d O F l d h T d n s a n C L O S E - o u n t L s t o 131.050 1 3 d T 0 T A L L o t h o u A T S F C t S t 264Qd A C C O U N T S , 6 7 3 1 4 6 , 7 8 4 4 6 , 4 4 0 4 6 0 , 6 5 8 1 , 9 1 8 6 7 9 . 3 5 6 9 6 , 7 4 0 4 4 3 4 6 4 , 0 , 3 1 8 5 3 5 6 1 , 4 5 3 4 8 , 7 0 9 , 0 3 4 5 9 9 3 7 4 , 2 9 3 2 , 5 4 2 3 0 , 8 2 9 7 4 3 7 4 , 5 7 7 4 5 , 2 4 2 1 3 8 0 , 0 2 9 3 8 , 3 , 1 3 7 9 3 5 9 9 2 , 2 5 6 2 , 8 4 1 0 , 2 8 2 9 1 9 2 9 , 8 5 9 2 7 , 5 1 8 1 2 2 , 9 4 8 7 1 , 7 0 3 3 , 9 9 8 1 5 2 , 7 4 3 5 2 , 0 3 5 , 3 9 8 9 0 5 , 1 2 3 , 3 4 7 4 6 6 0 4 2 , 0 4 l 6 5 0 6 , 1 4 , 0 7 , 6 7 2
@FedFRASER