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Released, f o r p u b l i c a t i o n Sunday morning March 23, 1319; not e a r l i e r . St,280 STA'imrT? iron TIT? FRZnS l-iv/ch 22, 1533 Aggregate gains of 11.S m i l l i o n s i n r 3 s e r v e s , large7y gold, and cons i d e r a b l e gains i n Government deposits, r e p r e s e n t i n g c h i e f l y income tax c o l l e c t i o n s due on March 1$, a r e i n d i c a t e d i n the F e d e r a l Re serve B o a r d ' s weekly bank statement 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 March 21, 1919TTar paper on hand shows n e t l i q u i d a t i o n of 10.7 m i l l i o n s , while o t h e r d i s c o u n t s went up 5-8 m i l l i o n s . No a p p r e c i a b l e changes a r e shown i n the t o t a l h o l d i n g s of a c c e p t a n c e s or of United S t a t e s bonds, while Treasury c e r t i f i c a t e s on hand i n c r e a s e d 4 . 1 m i l l i o n s . To t a l e a r n i n g a s s e t s stand a t 2,5^3-2 m i l l i o n s , or about 1 m i l l i o n below the t o t a l f o r the week b e f o r e Government d e p o s i t s i n c r e a s e d 1)5 m i l l i o n s w h i l e members 1 r e s e r v e d e p o s i t s d e c l i n e d 70-3 m i l l i o n s . Net deposits, because of the l a r g e r " F l o a t " r e p o r t e d t h i s week, show a s l i g h t d e c l i n e . F e d e r a l Reserve n o t e s i n c i r c u l a t i o n i n c r e a s e d 7*6 m i l l i o n s , s u b s t a n t i a l g a i n s being r e p o r t e d by the Boston, Hew York, A t l a n t a and Chicago banks- The banks r e p o r t a l s o an i n c r e a s e of 3 m i l l i o n s i n t h e i r aggregate 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 51-6 per c e n t . Their r e s e r v e p e r c e n t a g e shows a r i s e from 51-4 to Released, f o r p u b l i c a t i o n Sunday morning March <%), I919i n o t e a r l i e r . St-280a STATEMENT OF COMBINED EE SOURCES AND LIABILITIES OF THE TWELVE FEDERAL EE SERVE BANKS AT CLOSE OF BUSINESS MARCH 21, 1919 March 22 1918 March 1 4 , I 9 I 9 March 21, 1919 RESOURCES $470,529 ,000 $332,7^9,000 Gold coin and. c e r t i f i c a t e s $329,7^1,000 379,866 coo 501,078,000 566,86*4- ,000 Gold Settlement Fund - F , p . B o a r d __52,-500 000 5.829.000 5.829.000 Gold w i t h f o r e i g n a g e n c i e s 902,595 ,000 839.656.COO 902,4314., 000 T o t a l gold h e l d b y banks 878,805 ,000 1,170,601,000 Gold w i t h F e d e r a l Reserve Agents 1,112,938,000 21.114 .000 119.277.000 125.^70.000 Gold Redemption Fund ,000 1,802,814 2 , 1 2 9 , 5 3 ^ 0 0 0 2 , l 4 0 , 8 4 2 , 0 0 0 Total gold r e s e r v e s .000 67 203.000 -59-^55£ 67.736.000 Legal tender n o t e s , s i l v e r , e t c • 1,862,372 ,000 2,196,737,000 2,208,578,000 Total reserves 282,962 ,000 1,702,35i,°oo 1,691,678,000 B i l l s d i s c o u n t e d ; ( S e c u r e d by Gov't.war o b l i g a t i o n s 260,157 ,000 184,012,000 (All other 189,861,000 328.880 .000 262,139,000 261,924.000 B i l l s bought i n open market 2,148,502,000 871,999 ,000 2,143,463,000 T o t a l b i l l s on hand 61,039,) ,000 27 ,223,000 27,222,000 U.S.Government l o n g - t e r n s e c u r i t i e s ,CvO 226,036; 168,3^8,000 172,471,000 U* S-Government short- term s e c u r i t i e s ,000 4 24O_ 4.000 l 4,000 All other earning a s s e t s 1,163 ,"314,000 2,344,077,000 2,343,160,000 Total earning a s s e t s 9,720,000 9,711,000 Bank p r e m i s e s 376,622,000 683-017,000 U n c o l l e c t e d i t e m s & 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 797,303,000 537,000 6,745,000 6,901,000 5fa Redemption Fund a g a i n s t F.R.Bank n o t e s 550 .000 7.507.000 7,772,000 A l l other r e s o u r c e s 5,247,803,000 3 >03,39 5,000 TOTAL RESOURCES 5,373,425,000 L I A B I L I T I E S 7*+ .011,000 81,562,000 Capital paid-in 81,612,000 1 ,134,000 49,466,000 Surplus 49,466,000 ,505,000 15°»7S3,0C0 Government d e p o s i t s 91 285,785,000 ,025,000 1,480 Due to members - Reserve account 1,675,045,000 1,604,719^000/^3 ,115,000 229 509,112,000 D e f e r r e d a v a i l a b i l i t y items 555,pi|tOCo 117.522.000 S I 751 .000 120 ; 4g6 r ooo 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 g o v ' t . c r e d i t s 1,882 ,396,000 2,452,462,000 Total g r o s s d e p o s i t s 2,565,9^9,000 1,429 ,509,000 2,503,095,000 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 ok>v 2,510,687,000 139 > 7 9 , 0 0 0 142,442,000 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 7 ,973,000 367.000 21.739,000 8 21-26q.000 A l l other l i a b i l i t i e s 3 ^ 0 3 , 3 95,000 5,247,803,000 5,373,^25,000 SOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s to n e t d e p o s i t and F.R.note 63.4$ 51.4$ l i a b i l i t i e s combined 51.6$ R a t i o of gold 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 63.0^ 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 63.3 $ m Released f o r p u b l i c a t i o n Sunday morning March , lgig; not e a r l i e r . St - 280b WEEKLY STATEMENT OF EE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 21, I 9 I 9 . ( i n thousands of d o l l a r s . ) RESOURCES Boston New York Phi l a - C l e v e l , Richn. 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 F r a n . Total Co?<3 coin and c e r t i f i c a t e s 3.59s 244,721 205 21,7 l f 6 2.1B0 8,039 22,73 2 4,260 8,289 lOo 6,0Sj 7,720 329,741 Ovid 3-tvlement Fand - F.R.Board 3%,331 187,527 4 l J 7 7 66,222 4 l , 0Q_2 9,3*12 98,751 16,634 10,444 25,118 8, l40 30,866 566,864 Gold -tv.t h Foreign, a g e n c i e s 408 2,011 408 525 204 175 8l6 233 233 291 204 321 5,829 Tc'O'.l gold h e l d by banks 35,387 434,259 4i,950 88,493 43,476 17,526 122,299 21,127 18,966 25,515 l4%429 38,967 902,454 . Gold w i t h F e d e r a l Reserve Agents 55,6o4 269,230 59,059 132,OoO 4 g , l o 4 40,136 265,433 4-2,163 52,877 39,622 1 8 , 0 4 l 96,609 1,112,938 K #Gold Redemption Fund _llj>.6g 24.. 91% 27,071 1,755 9.'199 ^ , 4 : 8 22,356 5.084 6.067 3,359 2,173 682 125.470 1 T o t a l gold r e s e r v e s 102,359 728,407 128,120 222,308 9 s ? ? 9 63,100 415,088 68,374 77,910 6 8 > 9 6 3-4.64j 136,258 2, l4o, & 2 Legal t e n d e r n o t e s , s i l v e r , e t c . 6,42.4 52,429 356 1L101_ 453 877 1.421 2,198 102 1?4 2.327 2?4 67,7^6 Total reserves 108 693 780,836 128,476 223,409 05,2X2 63,977 417,509 7 0 , 5 ) 2 72,012 68,620 36,770 136,492 2,208,578 B i l l s )Sec.by Gov't.war o b l i g a t i o n s 136,864 676,608 163,255 l l 4 , 6 6 l 86,799 65,423 191,704 77,274 27,356 50,583 21,158 73,987 1,691,678 Disctd)/,11 o t h e r 5,085 32,052 13,620 3 , 6 5 4 i ] , S 9 8 12.621 14,903 8,627 i , 4 o 4 38,688 29,386 17 s 923 189,861 B i l l s bought i n open market _10.572 27.15 8 2. 29 1 47 . 231 6^932 7,22% 49.253 14.278 33,611 13.751 1-803 47.821 261,924 T o t a l b i l l s on hand 152,52:1 735,818 185,ibG 165,546 105,6^9 85.267 2 5 5 3 * 0 100.179 62,371 103,028 52, W f 139,731 2. A 3 , 4 6 3 U.S.GovU. l o n g - t e r m s e c u r i t i e s 538 1,390 1,365 1,083 1,2;4 37s 4,476 l) 153 117 S.SC-5 3,967 2,633 27,222 U.S.-Go\- ? i- short- term s e c u r i t i e s 3.4,4lo 6 4 , 4 ; 6 15,280 13,457 5,315 8 , 4 ) 4 16,612 9,068 9,338 6)068 % tGQ 5, 547 Y(2;kj} - All other earning a s s e t s 4 _ _ _ _ _ _ 4 ' Total earning a s s e t s 167,47 5 801,644 201,831 180,086 112,238 94,3 23 276,948 110,400 71,826 117,964 6 0 J 1 4 l 4 f , 9 1 1 2,343,160 Bank promises . 800 3,302 500 100 295 217 2,936 540 400 221 400 9,711 Uncollected, i t e m s and other deR u c t i o n s from grous d e p o s i t s 77,164 180,933 72,273 66,420 55,924 43,810 95,820 43,996 19,072 61,287 43,258 37,346 797.303 5/6 Redemption jjc.v.4 - F.R. bank n o t e s "JlS 1,819 TOO 623 315 42b 408 259 254 690 335 356 6,901 AH other r e s o u r c e s £§4 l,jpl 1.389 537 448 273 657 307 nh 405 709 1 COS 7*772 TOTAL ESSOTIEC^ 355,072 1,770,235 405,169 471,175 264,43 2 202,826 794,27 8 226,074 169,2/8 249,366 142,007 323 513 5,373:425 L I A B I L I T I E S ' 213^ rCapital paid-in 6J75 20,927 7,576 9 , 2.18 4 , u 4 3 , 1 8 0 11,372 3,825 2,969 3 , 7 3 8 3,19s 4,720 81,612 Surplus 2.9,50 21,117 2,b08 3 , 5 5 2 2,196 1,510 6 , 4 i 6 1,603 1,415 2,421 1.184(v< 2,448 4q>66 — Government d e p o s i t s 39,241 43,766 20,77'1 2 7 , 4 , 4 28,078 13,708 42,219 12,094 6,37 5 22,517 12,04o 17,502 285,785 Due to members - Reserve account 85,311 687,643 87,351 130,663 50,397 4 4 , 2 2 1 221,429 59,656 4-9,434 71.617 3 9 , 4 c 6 77,591 1,604,719 " - ' D e f e r r e d a v a i l a b i l i t y items 39,356 130,978 65,225 57,026 45,826 19,444 69,926 32,987 15)136 341252 28y©Si, 16,342 555 &±9 All other deposits HQ 107^14 64j 297' 9-0 . 82 \172 5in 4Is ' 6[6iq iro'.4gk Total gross deposits 164 : 578 970,101 173,990 215,460 124,391 77,455 336,746 105,247 71,364 128,56s 79)995 118.054 2,565,949* 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 165,338 71,5,5^9 205,885 229,590 127,441 112,269 4 l 8 , 9 3 2 107,025 87,662 100,435 50,279 I90' 26? 2 510 687 F.R.Bank n o t e s - r e t l i a b i l i t y 13,0)4 34,236 13,355 11,799 5,218 7,55b 18,711 7,536 5,243 12,918 6,396 6^440 ' 142'442 All other l i a b i l i t i e s 2j>51 8,285 1,255 ... 1,556 1,072 856 2,101 83 8 625 1.286 955 l\g9 23'269 TOTAL LIABILITIES 355,072 1,770,235 4O5,i69 471,175 264,432 202,826 794,278 226,074 169,278 249,366 142,007 323[513 5,373)425. Contingent l i a b i l w i t iyt ^h a s endorser on ' b i l l s discounted^or sold to o t h e r F e d e r a l Reserve Banks 10,913 — 30,000 20,000 22,777 83,690 r Released, f o r p u b l i c a t i o n Sunday morning March 23, 1-919; n o t e a r l i e r . STATEMENT OF FEDERAL BE SERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MABCIi 21, I 9 I 9 . (In thousands of d o l l a r s . ) Boston New York P h i l a . C l e v e l . Richn. A t l a n t a Chicago S t . L o u i s Minn. FEDERAL RESERVE NOTES: 271, 360 1,393,080 3^1,420 335,o6o 213,020 206,960 564,280 174,920 124,880 Received f r c n Comptroller 79,809 462,702 99,933 59,018 53,662 36,948 87,952 42,843 24,997 Returned to Comptroller 191,551 930,378 241,,^7 27b,042 159,358 170,01^4767328- "132T077™39! 883 Chargeable t o F-R.-Agent In hands of F-R-Agent 22,680 131,600 23,200 31,860 28,740 54,505 40,760 12,370 10,390 I s s u e d to F'.R. Bank l e s s amount r e t u r n e d to F.R. Agent f o r redemption 168,871 798,77 8 218,287 244,182 130,618 115,507 435,568 119,707 89,493 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold c o i n and c e r t i f i c a t e s on hand Gold redemption f u n d Gold Settlement Fund - F.R.Board E l i g i b l e p a p e r , minimum r e q u i r e d Total MOUNT OF ELIGIBLE PAPER DELIVERED TO F . R, AGENT 8,604 St.280c Kans.Cy-Dallas San F r a n , Total 159,700 101,960 254,420 4, l 4 l , o 6 o 3 8 , 7 0 1 26,719 31,047 1,044,331 1207959 -7572^1-^23731J1709BT729 14,380 23,700 6,000 400,185 106,619 51,541 217,373 2,696,544 188,740 23,270 2,503 13,052 10,490 11,170 13,790 2,104 2,633 5,129 2,232 3,325 4,262 70,000 47,889 95,000 4o,ooo 35,000 260,304 39,93 1 36,500 35,360 12,581 2,860 2,776 11,490 243,006 78,005 47,000 113,267 168,871 798,778 218,287 244, 182 130,618 115,507 435,568 119,707 89,493 106,619 5 1 , 5 ^ 1 217,373 2,696,544 152,521 735,818 164,274 164,804 102,53s 77,007 255,860 93,100 6c,c47 103,028 52,347 123,369 2 , 0 8 4 , 7 0 8 529.548 159.228 112,122 88,514 7 5.371 170.135 77.544 36,616 66,997 2,684 82,259 791,927 33,500 120,764 1,583,606 MEM0.BiB:M FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F, R, n o t e s o u t s t a n d i n g 168,871 F.R. n o t e s h e l d by bank 3.533 F.R„not&s i n a c t u a l c i r c u l a t i o n 165,338 798,778 218,287 244,182 130,618 115,507 435,568 119,707 89,493 106,619 51,541 217,373 2,696,544 83.209 12.402 14.59 2 3.177 3 . 238 16.636 12.682 1.83 1 6.184 1,262 27.111 185.857 715,569 205,885 229,590 127,441 112,269 418,932 107,025 87,662 100,435 50,279 190,262 2,510,637 DISTRIBUTION OF BILLS, U.S.GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS BY MATURITIES. Bills' discounted B i l l s bought i n open market U»S.Government s h o r t - t e r m s e c u r i t i e s Municipal w a r r a n t s Within 15 days 1,529,079 87,157 24,242 1 16 to 30 days 58,574 72,289 31 to 60 days 221,949 81,343 221 6 l to 90 days 50,922 21,135 6,466 Over 90 days 21,015 l 4 l , 542 Total 1,881,539 261,924 172,471 4
@FedFRASER