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STATEMENT FOB THE PEESS Released for publication Friday morning, ftlarch 3, not earlier, St.2b24« Federal Reserve Board, March. 2 , 1922. CONDITION OF FEDERAL RESERVE 3ANKS. Aggregate increases of about $ 5 8 ,0 0 0 ,0 0 0 in the holdings of Govern ment securities and a slightly smaller increase in total earning assets, accompanied by increases of $ 4 b ,200,000 in total deposits and of £ 23,5 0 0 ,0 0 0 in Federal reserve note circulation, are indicated "by the FecUoral Reserve Board's weekly bank statement issued as at close of business on L'larch 1, 1922. For the first time during the present year the state ment discloses no increase in the total cash reserves of the banks, a gain of $ 4 ,b 0 0 ,0 0 0 in gold for the week being offset by an equal loss of other reserve cash, i, e, , legals and silver. The reserve ratio shows a decline for the week from 7 8 .1 to 7 6 .7 cent. Federal reserve bank holdings of bills secured by U. S. Government obligations were § 3 ,4 0 0 ,0 0 0 larger than the week before, other discounted b ills on hand show a decline of $ 1 7 »100 , 000, while acceptances purchased in open market increased by $ 1 3 ,2 0 0 ,0 0 0 , largely at the Hew York and San Francisco batiks. Holdings of United States bonds and notes show an increase for the week of $ 3 9 ,0 0 0 ,0 0 0 , the Hew York, Cleveland, Chicago and Kansas City banks reporting the largest increases •under this head. Since the be ginning of the year the Federal reserve banks have increased their holdings of TJ. S. bonds and notes from $5 0 ,0 0 0 ,0 0 0 to $ 1 5 3 ,3 0 0 ,0 0 0 , largely through the purchase of Victory and Treasury notes. Their holdings of Pittman cer tificates show a/re (Action, while those of Treasury certificates held largely under repurchase agreements by the Boston, New York and Chicago banks show an increase of $ 20 , 500,000 for the week and of $8 3 ,8 0 0 ,0 0 0 since the beginning of the year. Total earning assets, in consequence of the changes indicated, show an increase for the week of $ 5 7 ,4 0 0 ,0 0 0 and on March 1' stood at $ 1 ,2 1 b ,4 0 0 ,0 0 0 , compared with $ 1 ,5 2 3 ,5 0 0 ,0 0 0 at the begin ning of the year and $ 2 ,7 8 9 ,1 0 0 ,0 0 0 about a year ago. Government paper held under rediscount shows an increase for the week from $ 2 8 2 ,0 0 0 ,0 0 0 to $2 8 5,30 0 ,0 0 0. Of the total held $2 2 7 ,7 0 0 ,0 0 0 or 7 9 .8 per cent, were secured by Liberty and other U. S. bonds, $ 2 3 ,2 0 0 ,0 0 0 , or 8.2 per cent, - by Victory notes, $ 2 0 ,0 0 0 ,0 0 0 , or 7*0 per cent, - by Treastiry notes and $ 1 4 ,3 0 0 ,0 0 0 , or 5*0 per cent, - by Treasury certificates, compared with $ 226 , 100 , 000 , $2 4 ,5 0 0 ,0 0 0 , $ 7 , 900,000 and $2 3 ,4 0 0 ,0 0 0 reported the week before. As against a reduction of $ 3 ,1 0 0 ,0 0 0 in Government deposits, reserve deposits show an increase of $4 8 ,0 0 0 ,0 0 0 and other deposits, composed large ly of cashier's checks and non-members* clearing accounts - an increase of $ 1 ,3 0 0 ,0 0 0 . Federal reserve note circulation shows a further increase for the week of $ 2 3 ,5 0 0 ,0 0 0 . An increase of $ l b ,100,000 is reported by the Federal Reserve Bank of San Francisco, and smaller increases are shown fo r ' the Philadelphia, Cleveland, Chicago and St. Louis banks, A movement of gold away from New York, largely towards Philadelphia and San Francisco is shown for the week. . Gold reserves of the New York bank show a decrease of $ 2 l,1 0 0 ,0 0 Q while smaller decreases of the Boston, Cleveland, Kansas City, Dallas, Atlanta and St. Louis banks totaled $ 1 3 ,b 0 0,0 00 . The largest accession of gold for the week, $ 1 4 ,3 0 0 ,0 0 0 , is reported by San Francisco. Philadelphia with an accession of $1 3 ,9 0 0 ,0 0 0 is next in order, while smaller accessions aggregating $ 1 1 ,1 0 0 ,0 0 0 are shown for the Chicago, Richmond, and Minneapolis banks. St,262^a. Released, for publication Friday morning, March 3, 1522; not earlier, RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED, (In thousands of dollars) RESO. U R C E S m *?, 1 , 1922 Feb, 21, 1Q22 521>273 381,673 _ 52Q . r a r “ / . , . 901,679 902 , 386- Gold with Federal Reserve Agents . Gold redemption fund . . . . . . . 1 , 982,061 Gold and gold certificates , . . , Gold settlement fund - F. R, Board Total gold held by banks Total gold reserves . . . . . . Legal tender notes, silver, etc. . Total reserves . . . . . . . Bills discounted: Sec. by U .S . Government obligations All other » , , , , Bills bought in open market Total b ills on hand . . U, S. bonds and notes ....................... U, S, Certificates of indebtedness: One-year certificates (Pittman Act) All other Municipal warrants , . , , Total earning; assets Bank premises 5/fc Redemption fund against F. R, Bank n o t e s ............................... Gold abroad in custody or in transit Uncollected items All other resources TOTAL RESOURCES . . , 380,406 6 7 ,6 94 2 ,9 5 1 ,4 3 4 • 234,353 526,499 760,852 1 , 977,602 6 6 .847 1 , 236,560 2,946,8-35' 2 , 163,090 134.006 12 9.j 359 Mar. 4 . 1921 165.678 212,673 3 ,o s o , 8 *flr 1 2 , 375,763 3 ,0 8 0,79 3 285,3 ^ T '?^ 422,aee-,/> 95 ,.I3Q 281,994- 981,840 439,289 1,359,665 82.564 164.004 8 0 3 ,2 ? T ^ 803,847 2,505,505 163,322 124,299 25,867 95,466 ' 96,966 13.3,743 _____ 121 254,375 3.31S l , 2 i 6 , 4 i T ‘2./ 1,153,046 2 , 789,069 37,232 3^ 154,250 102 9,339 8.362 505,782 Hggtajfr-&' so ___ 4 ,86 4 , t7 19.733 12,199 3,3oo 631,268 _1*263 4,78 8,98 7 5 , 840,601 103,736 2 1 5 , 39 s 1,349 103,685 215,39S 1,317 100,865 202,036 60,770 1 , 725,065 32,607 63,910 1 ,677,011 31,260 56,941 1 ,7 05,364 24.064 1,818,442'"' 1 , 772,181 1 , 786,369 2 ,1 9 6 ,9 8 3 2 ,1 7 3 ,5 1 4 3,042/611 81,165 425,437 16.290 482,385 , 41,226 4,788,987 5 ,840,601 L I A B I L I T I E S Capital paid in Surplus ............................... ... . Reserved for Gov't, franchise tax Deposits; Government Member bank - reserve account All other ....................... Total deposits ....................... F.R. notes in actual circulation F.R, Eank notes in circulation net lia bility . . . . . . . . Deferred availability items . . All other liabilities . . . . , TOTAL LIABILITIES . . . . Ratio of total.reserves to deposit and F.R. note liabilities combined 80,095 432,241 16-rlOl' ' 4 ,8 6 4 , £ 4 5 " ' 7 < 76 7 8.1$ 185,109 * 50 . 8$ ♦Calculated on basis of net deposits and F. R. notes in circulation. Released, for publication Friday morning, March 3 , 1922; not earlier. RESOURCES A11D LIABILITIES OF THE FEDERAL RESERVE BAHKS AT CLOSE OF BUSINESS ^Federal Reserve Bank of Gold and gold certificates Gold settlement fund - F.R. Board Total gold held by banks Gold w ith F. R. Agents Gold redemption fund Total gold reserves Legal tender notes, silver, etc. Total reselves■ B ill s discounted: Secured by U.S.Govt, obligations A ll other B ills bought in open maricet Total b ills on hand U. S. bonds and notes U. S. Certificates of indebtedness: One-year certificates (Pittman Ac A ll other Municipal warrants R E S 0 U R C E S Phi la. Cleve. Rich. Atlanta Chicago St. Louis 7 , 9814- 283,461 2 ,0 8 6 1 2 ,5 1 1 2,910 5,193 22,729 3 ,608 20[084 — g..,b89 -73,420 -42, ,504 34,827 -,27,79b 9 b ,349 21,983 28,0bS 33 b , 150 75,50b 55,015 37,737 32,989 1 1 9 , 07$ 25,591 12 S , 53S 741,164 130,913 184,038 32,897 70,82b 337,407 74,722 10.000 -13,753 4.218 7,b7b - 4,263 -3,51b 10,004 2,3b0 170,359 1,087,314 2l0,b 37 246,729 74,897 107,331 466,489 Boston New York -22,323 ___ 15,131 - _g,587 5*fo Redemption fund against F- R. Bank notes Uncollected items A ll other resources TOTAL RESOURCES 8.029 19 2 ,b 82 1,122,445 2 1 9 , 2 2 4 2 5 4 ,75 8 12,279 3 5 ,4 70 61,530 55.S33 28,793 19 ,12 5 w ^J J 40,954 Minn. I-Cans.Cy. Dallas San Fran. Total 9 ,3 1 4 34.43 5 2,6 00 8,782 19,228 44 .9 45 lb. 77b 55.465 380,40b 521.271 43,749 47,545 2 5 , 55 s 74,693 901,679 22,762 2.7 b l 3 4 ,6 47 3 .9 1 4 11,253 212,894 l , 9 S2 ,Obl 1,379 3 ,8 5 0 . b7,b94 102,673 69,272 86,106 38,190 291,437 2 ,9 51,434 14,152 80,988 1 1 1 ,9 1 5 479,53b 116,225 570 5.b57 69,842 91,763 6,091 J ,CD/ 40,937 --- 4 .5 8 4 13,047 5.143 129,159 fO 1 fa *7O 4 ,4 6 1 " 8 ,23 1 29 , 2 9 ,5 17 2b 5 ,4 b 5 ) 2 1,7 6 1 2 8 5 ,34T7 ......... 1 5 ^ 3,332 95,730 34,429 34,078 3 7 ,7 7 4 3 7 ,9 5 6 ' 68,472 33,925 6 5 , 90s 17,393 10,504 22,796 53,411 117,226 13,272 3 3 ,2 1 s J .,921 6,045 44,235 296 , 5S0 3,0 8 0,79 3 1,129 6 0 ,5 5 1 122,357 91,457 69,575 75,991 4,477 53,571 14,724 18,380 1,233 113 29,412 4,678 291 2 1 ,5 6 1 2,630 12,252 163,322 8,450 2 5 , 34 s 31,900 7b ,715 8,000 6,000 14 ,2 3 1 3 ,5 6 0 7,366 l 8,667 3,571 6 ,2 4 0 4,350 1,063 5 ,3 2 0 117 1,900 30,4 94 6,382 14 154,250 27 102 Total earning assets Bark premises St.2524b. MARCH 1, 1922. (In thousands of dollars) 4,9bO 422 7,353 1,50b / 46,207 555 343,652 3 ,W 700 4° 108,18b 80,784 4,30b 2,569 1,089 539 18S 4b 8 47,081 42,470 470 210 _____ 5 I L 60,891 185,799 S03,2Xg-| 95,466 102 48,918 39.7S2 6 4 ,7 7 a 42,486 7,142 643 881 4 ,7 4 0 2 ,10 5 844 3 7 ,232 b55 2,023 405 916 13b 354 8,362 2 1 ,1 1 5 58,308 29,473 12,492 34,993 2 1 ,1 8 4 36 , 822 109 954 .. 3 S3 __ 1,076 ps~ 87,120 1., 2 l b ,U T S 505,782 _ 469 -2..0 » 7»2** -fR.180 ✓?.W..-C 415,40 1 207 ,4b9 195,587 742,404 198,270 124,478 157,653 112,218 426,540 4 , s 64,345 v / C* 3s Released, for publication Friday morning Mcir. 3 , 1922; not earlier. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAR. 1 , 1922 St.2b24c. (In thousands of dollars) L I A B I L I T I E S Boston New York Phila. Clave, Rich, Atlanta Chicago St.Louis 1Minn. Kans.Cy, Dallas San FranFederal Reserve Bank Total 27,062 8 ,8 5 4 11,343 4,224 14,474 4,623 3 ,5 6 4 4 ,6 0 4 Capital paid in 7 ,9 6 9 5,463 4 ,19 4 7,362 103,736 16,483 29,025 60,197 17,9^5 22,509 11,0 30 9,388 7,468 9,646 Surplus 9 ,H 4 215,398 7,39 4 15 ,19 9 281 — 82 280 Reserved for Govt, franchise tax 185 73 61 330 57 1,3^9 . Deposits: 1 1,412 2 3 ,116 2 ,5 6 4 2 ,3 2 9 3 ,4 3 0 Government 5,702 1,662 1 . 366 /" 6 ,4 6 6 3,627 6,353 2,743 6 0 ,7 7 0 / 674,043 108,521 134,797 53.426 43,970 ;25^,191 62,496 44,022 73.449 4 3 ,8 1 ^ 118 ,8 3 1 I,7 2 5 ,0 o 5 / 113 ,50 4 Member bank - reserve account 10,788 1,011 424 768 887 382 768 A ll other 541 701 2,316 3 2 ,6 0 7 4 939 1 1 3 ,0 8 2 Total deposits F. R. notes in actual circulation F . R, Bank notes in circulation net lia b ility Deferred availability items A ll other lia b ilitie s TOTAL LIABILITIES 117,821 707,947 110,944 138,129 56,179 50,705 262,209 66,891 46,225 76,893 46,120 138,379 1,818,442^ 155,898 626,673 188,463 195,931 94,544 109,277 369,180 85,180 52,1 34 61,881 29J-3S7 228,435 2 , 196,983 3 ,0 3 4 36,317 622 3,232 28,298 3.627 10,297 978 9,447 34,335 736 2 ,7 0 8 20,893 3 1,4 19 432,241 1,5 2 2 1,187 ^iC Tiei 8 ,2 4 6 36,266 896 17,361 0, 7,863 79,445,( 43,215 704 3 ,2 3 f 5,761 40,723 1,005 5 ,650 15,613 674 8,207 5 5 ,3 70 3 ,939 601 4 ,9 5 9 343,652 i , 522 ,aej 378,070 415,401 207,469 19 5 ,587 742,404 198,270 124,478 197,653 1 1 2 , 2 »J 426,940 ** Ratio of total reserves to deposit and F . R. note lia b ilit ie s combined, per cent 7 0 .4 84 ,1 Contingent lia b ility on b ills purchased for foreign correspondents 2,336 12,002 7 3 ,2 76.3 53*7 70.0 7 5 .9 2,560 2,624 1,568 1 ,1 5 2 3 , 80 8 . 1,50 4 7 6 ,8 6 6 .1 7 1 .0 864 1,536 5 S .6 832 80,095 f,S6 4 , 54^ 171- 8O .9 1,4 72 764 32,258 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION F. R . notes outstanding F. R. notes held by banks 163,475 7,577 797,540 205,821 212,276 100,776 113,885 404,763 100,907 170,867 17,358 16,345 6,232 4,608 35,583 15,727 5 4,968 F. R. notes in actual circulation 15 5 , 89s 626,673 188,463 135.931 94,544 109,277 369,180 85,180 2,834 69,694 7,8 13 32,317 270,238 2 ,5 2 6,66 0 329,677 2,930 41,803 5 2,13 4 61,881 29,387 2^ 8,435 2 , 196,983 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES Within 15 days B ills discounted B ills bought in open market U . S. Certificates of indebtedness Municipal warrants 4l3,81«-oi> 45,3 48 44,086 l6 to 30 days 75,111 15,855 2 ,12 5 31 to 60 days 106 ,SBi- 1 1 16,991 15,458 102 6 l to 90 days 69,5 38 16,795 1,000 Over 90 days 42,459 7^1 187,147 Totals/ 7 0 7 ,5 4 / 95,730 249,816 102 Released for publication Friday morning, Mar. 3 , 1922 ; not earlier. St.2624d. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MAH. 1 , 1922 . (In thousands of dollars) Federal Reserve Agent at R ES New York P h ila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total O U R C E S Federal Reserve notes on hand Federal Reserve notes outstandii 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 130,450 163,475 5,600 12,938 110,000 34,937 2 5 ,6 1 4 369,010 3 9 ,9 6 0 38,000 2 6 ,gOO 73,861 t -✓# v * 797,540 205,821 212,276 100 , lie 113,885 296,925 13,375 33,239 1 0 ,5 2 4 10,663 411,000 120,389 160,000 56,376 49,267 74,908 1 ,2 6 4 28,238 ^1,312 2 ,102 30,795 Si.s is 5,783 2 ,4 0 0 5,426 -/ I ' V 63,000 43,059 10,001 ^S,715 8 ’ 175 8,525 54,968 12,690 69,694 13,052 1,5 10 3,287 8 ,2 0 0 31,360 32,206 608 35,047 2 ,7 2 5 21,355 40,900 32,317 270,238 6,701 3,068 344,013 13 ,2 19 1 ,484 199,675 21,064 16,892 57,3 44 10,783 483,014 2 , 013,357 452,866 503,864 233,535 3 11,6 3 2 991,221 234,849 119,069 154,803 102,881 592,159 6 ,1 9 3 ,2 5 0 293,925 1 , 166,550 2 4 5,78 12 50 ,2 76 12 6 ,9 76 187,746 536,743125,767 L I A B I L I T I E S Net amount of Federal Reserve notes received from Comp troller of the Currency 63,493 S2,384 53.672 3 1 1 ,1 3 s 3.444,451 Collateral reesived from Federal Reserve Bank: Gold E ligible paper TOTAL 991,221 234,849 119,069 1 5 M 0 3 102,881 5 92,159 6 ,1 9 3 ,2 5 0
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