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Relapsed for publication Sunday morning, M%rch nob earlier. 5?AT?,:ENT FOE TEE PRESS St.979 Federal Reserve Board March 6, 1920, CONDITION 0? FEDERAL RESERVE BANKS. Net liquidation of about o2 #3 millions of discounted and purchased paper, accompanied by a reduction of $2,2 millions in net deposits is indicated by the Federal Reserve Board 1 s weekly bank statement issued as at close of business on March 5» 1920, Heavy export withdrawals of gold, mainly for shipment to South America, are largely responsible for the further depletion of the Reserve banks1 gold reserves by 29,8 millions. Total cash reserves, because of the gain of 1.2 millions in legale and silver show a decline of only 28 *6 millions. Federal Reserve note circulation increased by about 10 millions, while the banks* liabilities on Federal Reserve bank notes in circulation decreased by S millions. As a result of the above changes the banks'' reserve ratio shows a slight rise for the week from 42,5 to 42«6 per cent. War paper holdings of the several Federal Reserve banks declined by 52*5 millions, while those of other discounted paper increased by 1 m i l l i o n s » Acceptances on hand declined 17-5 millions, while holdings of Treasury certificates fell off about 1 million, Earning assets of the Reserve banks total about 3>2l6 millions, a decrease for the week of 63»3 millions. Of the total of 1,520*5 millions of war Liberty bonds; per cent, by Victory notes, and 534*1 millions, or 35.1 per cent by Treasury certificates, as against 48*1, 15*7 and 3b*2 per cent of a total of about 1,573 millions of war paper held the week before• Discounted paper held by the Boston* Cleveland, Atlanta, Chicago, Minneapolis, Kansas City and Dallas banks are inclusive ox 96,6 millions of paper discounted for the New York and Philadelphia banks, as against S&. 9 millions reported the week before by the six banks last named, while acceptance holdings of the Boston, Cleveland, Atlanta, Kansas City and San Francisco banks comprise 17*6 millions of bills purchased from the New York and Bos bon banks, compared with 22*5 millions reported the week before by the same banks. Government deposits show a decline for the week of about 50 millions, members* reserve deposits - a decline of 13 S millions, other deposits, including foreign government credits - a decline of 3*5 millions, while the "float" carried by the Reserve banks (treated as a deduction from gross deposits) increased 24.9 millions. The result is seen in a reduction of net deposits by 92*2 millions, this reduction outweighing the increase in Federal Reserve note circulation and the decrease in cash reserves• An increase of $264,000 in paid-in capital is due to admission of new. members and increases in capitalization, of existing members largely in the New York and Kansas City districts* D Released for publication Sunday morning, March 7. 1920; not earlier. STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF 'I'tiE FEDERAL RESERVE BANKS. R E S O U R C E S Gold and gold certificates Gold settlement fund - F. R- Board Gold with foreign agencies Total gold held by banks Gold with Federal Reserve Agents Gold redemption fund Total gold reserves Legal tender notes, silver, etc. Total reserves ^ , (Secured by Government war obligations Bills discounted ( 4 1 1 other Bills bought in open market Total bills on hand U. S. Government bonds U. S. Victory notes U. S. Certificates of indebtedness All other earning assets Total earning ^assets Bank premises , Uncollected items and other deductions from gross deposits 5$ Redemption fund against F,R, bank notes All other resources TOTAL RESOURCES L I A B I L I T I E S Harch__5^_1220 180,162,000 389,332,000 112,822,000 682,316,000 1,133,690,000 116,071,000^ $ 1,937,077,000 117,555.000 2,054,630'000 1,520>494,000 888,194,000 51,5,8^4, QOp 2,922,542,000 2a,775,000 68,000 266,567,000 " 3,215,952,000 11,77^00859t^©*M300 16,226,000 4.174.000 . 6,16^+57,000 $ February 27, 1920 $206,877,000 ' 385,594,000 112,822,000 705,293,000 1,145,479,000 116,064,000 . $1,966,836,000 116,379.000 2,083,215,000 1,572,980,000 880,531,000 531,367,000 2,984,878,000 26,775,000 6^000 267,511',000 . 3,279,232,000 11,226,000 ' 1,026.726,000 12,276^000 3,681.000 6,4l6,356,000 Capital paid-in 90,966,000 Surplus 120,120,000 Government deposits 83,879,000 133,913,000 Due to members - Ressrve account 1,858,184,000 M f . - r 1,871,961,000 Deferred availability items 6 l & T 5 © 9 r 7 0 0 0 — 8 1 0 , 4 0 2 , 0 0 0 Other deposits, including foreign government credits Qi,R?R,nnn 95,026,000 Total gross deposits ^ ^ 2,653709?,000 F. R. notes in actual circulation 3,030,010,000 F. R. bank notes in circulation - net liability 229,167,000 All other liabilities 4o.oq7.nnn TOTAL LIABILITIES .*,,•=.» * 6, 16Bt45Y,000 Ratio of total reserves to net deposit and F.R. note ?,Lo2 liabilities combined hz.Qfo Ratio of total reserves to F. R. notes in circulation after setting side 35$ against net deposit liabilities 47.1$ 90,702,000 120,120,000 t-y79a March 7. iqiq $341,070 000 m i ppv'nnn 5*829'oon 858126000 1,163 8 4 0 0 0 0 ' 117' 5} •*' 000 27139^7^000 65i98l'000 2,20s!4^000 1 70*?'^fy'nnn '185^240^000 273-4Qi!oOO 2,l6l JPO^OOO 27'osf'ooo ' 1 59 835 000 ' u'nnn 273^"7lT67000 9,720,000 599,197 000 7*42°'000 S^loiooo 5,178,134,000 2,311,302,000 3,019,984,000 237,131,000 37,117.000 6,4l6,35^,000 81,490,000 49,466,000 1°5,55° 000 1,626!07&!000 456,289 000 123/363]c00 2,40l[287|000 2,488,537,000 136,591,000 20.761.000 5,178,13^000 42-5# 51.4% 47,1% 63.3% Released for publication .Sunday morning, March 7> 1 5 ^ > n o " -2rlier. J* RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 5," 1920. *T R E S O U R C E S (In thousands of dollars.) Boston New York Phila* Clevel, Richm. Atlanta Chicago St.Louis Minn- Kans.Cy, Dallas San Fran. Total Federal Reserve Bank of 10,173 97,809 829 5,102 2,346 8,667 24,20s 3,616 7,233 399 7,oo4 12,725 ISO,162 Gold and gold certificates 51,402 25,625 30,070 48,422 31,433 23,729 59,369 9,167 23,715 32,716 18,303 29.376 389,332 Gold settlement fund - F. H.Board 8.216 41.406 9,026 9,251 5,5?8 4,062 13,426 5,303 3,046 5,415 2,9^ 5,190 112,822 Gold with foreign agencies 6 ^ , ' m ~ l b i r 8 4 o ~ 3 9 " . 5 ~ 6 2 ? r 7 5 39,312 36,45s 97,063 18,086 33,994 44,521 28,25o 47,291 5827315 Total gold held "by banks 88,136 308,798 84,598 132,208 30,360 53,296 198,695 50,608 33,751 38,577 31,419 87,644 1,138,690 Gold with F. R. Agents 17,330 27,000 13,369 422 5,713 7,446 22,784 5,677 4 4,019 3,079 9,223 116,071 •*6old redemption fund I757W7 505753^137,9^2 195,405 75,390 97,800 318,482 74,371 67,749 87.117 62,738 144,158 1,937,077 ^ Total gold reserves 6,409 100,225 179 814 435 -1,689 2,371 3,702 59 699 710 261 117,551 Legal tender notes,silver,etc. 1817685—6007863 138,131 196,219 75.825 99,489 320,853 7 8 , 0 7 3 b/,808 87.81b 63,41+8 144,4iy 2,054,b50 Total reserves Bills discounted:(a) Secured "by Government war 117,509 581,680 166,009 106,727 79,565 57,501 184,607 57,863 30,876 40,211 46,596 51,350 1,520,494 obligations ' 1 ^ - ? C r - r 1,7 the in? one? )L7 n)iO 77 OOl OX& 91 S*CT7 91 A XZZ TOk All other Bills bought in open market (b) Total bills on hand 116 8,868 3,966 2,632 26,775 1,457 1,335 833 1,235 114 4,477 1,153 tL S. Government bonds 68 50 10 3 U. S. Victory notes 8,300 10,881 266,567 8,480 15,940 6l.°2A 10,965 23,426 12,260 15,665 39,697 17,203 "^tLS- certificates of indebtedness 226,167 1,102,018 245,640 250,003 129,453 130,441 4s9.4l3 133,850 81,578 132,805 32,459 212,120 3,215,952 - Total earning assets 231 11*771 598 l,l4i 3,094 500 1,156 563 529 2,116 866 515 4-62 Bank premises i <7 ±~i , , w i Uncollected items and other 8 5 9 ^ 141,035 58,627 72,765 49,212 25T^64 175,049 61,032 28,290 95,304 61,298 4&r9is 50,616 deductions from gross deposits tjfo Redemption fund against F. R1,465 16,226 562 2,168 996 322 2,199 1,029 727 1,300 779 3,607 1,072 bank notes 254 4,174 120 265 291 1,059 77 332 269 732. All other resources Jil M . (*°3 TOTAL RESOURCES (a) Includes bills discounted •r for other F.H-banks, viz: (b) Includes bankers1 acceptances bought from other F.R* banks: With their endorsement Without their endorsement 461,029 1,851,349 444,467 521,509 256,115 2 5 ^ 5 20,000 2joi6 9,715 9,500 3,868 3,283 990,689 276,280 172,590 317,64s 208,485 399T401 6 , l 6 2 ^ T 28,535 8,734 4,470 5,050 96,619 15,665 3,408 12,201 5,424 Released for publication Sunday morning, March J, 1920; not earlierSt.979c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 5, 1920(in thousands of dollars.) L I A B I L I T I E S Boston Sew York Phila. Clevel. Eichm. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Federal Reserve Bank of 7,203 24,002 3,195 9,9^0 4,547 3,533 12,64$ 4,124 3,139 4,160 Capital paid-in 3,4g4 5,994 90,96b 8,359 45,082 5,505 9,089 5,320 4,695 14,292 3,724 3,56q 6 116 Surplus 3,030 7,539 120,120 4l,738 7KK 4R ?qfi 7 9 Rllll 1 AlA X Z-Z-7 i i nCn 1 :\4 4 S4o 0 2^4 45,296 3,53 1 2,544 1,616 3,337 4,060 Government deposits 3,971 4,372 33,079 Due to members - Reserve account « % : : 2 : g'6,76s ^ ^ , g = -S.S1B g ; j 1 3 ? 7 , * } 6 5 3 6 Deferred availability items 39,234 2 8 - ^ 5 olrt^-OS 4 ,i?,o Other deposits including F UipQj>_ 2 275 1 >94 —5,4gs 19.:31^ 6,350 5,964 3.581 2.667/ 9.679 foreign government credits 2,043 5^- c 7 91:525 165,675 834,510 157,336 200,924 104,723 8 ? ^ i # 4 o s , 735115.454" 184,' Total gross dposits F.B. notes in actual circulation 260,275 531,694 242,607 279,676 123,523 146,717 514,122 133:307 82,141 103,190 %295/224;455 3*;o35!OS LCT F.R.bank notes in circulation 16,970 49,744 24,134 19,163 11,223 13,626 35,364 13,220 7,163 13,265 net liability 3,263 11,032 229,lo7 2.5^7 16,317 2.34c 2.717 1,274 1.1Q 1,45.1 All other liabilities 1.042 1.552 9^6 L^.037 Vo 3./to , 461,029 1,851,349 444,467 521,509 256,115 256-695- 990,639 276,230 173,5 TOTAL LIABILITIES ,v90 317,64s 203,435, 3f5r*0i o, 16£7^57^ 9. afa M Contingent liability as endorser on Discounted paper rediscounts! with other F- R- banks Bankers' acceptances sold to 12,201 other F-R. banks E M 0 R A N D IS tSoU A ^ i-V J 67,950 25,669 96,019 C-'JL FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. F. R. notes outstanding F-R. notesrheld by bank 268,623 \R. notes in actual circulation 2o0, l-7d 930,758 255,006 295,655 I33,6oo 151,451 543,710 156,863 4 , 7 3 4 2Q.533 18. 5.132 99.064 12,399 15.979 83,256 109,204 531,694 242,607 279,676 128,523 146,717 514,122 133,307 82,l4l 103,190 1.115 6.014 80,998 261,537 3,270,721 2,700 17,022 240., 711 73,29s 224,455 3,030,010 DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES. Within 15 days Bills discounted Bills bought in open market U.S.certificates of indebtedness 1,523,738 126,422 13,143 Over 90 days 16 to 30 days 31 to 60 days 6l to 90 days 194,746 121,935 2,600 433,193 170,589 6,500 241,654 94,358 15,357 4,c4o 240,284 Total 2,403,688 513,854 266,567 Released for publication Sunday morning, March 7> '1920; not earlierFEDERAL RESERVE AGENTS* ACCOUNTS AT CLOSE OF BUSINESS MARCH 5, 1920. (In thousands of dollars.) Boston FErFBAI, RFSERVE NOTES: Received from Comptroller Eeturned to Comptroller Chargeable to F»R. Agent In hands of F.R, Agent Issued to F.R.osnk less amount returned to F,E~ Agent for redeinotion New York 64,524 100,246 56,392 154,135 2,c4i,gio 304,283 1,055,15s 279,366 326,515 162,214 202,456 570,670 174,803 90,256 114,274 93,328 269,647 3,643,030 35,660 268,623 124,400 30,260 28,554 51,005 26,960 17,940 7,000 5,070 12,390 8,110 372,309 83,256 109,204 139,743 4,000 13*052 8,551 3,178 1,399 2,717 5,604 17,500 97,788 48,000 190,144 43,430 19,300 35,860 16,984 70,144 785,751 97,555 345,015 106,255 49,505 70,627 4Q,579 173,893 14,055 Gold Settlement Fund - F.R.Board 73,000 105,000 24,360 930,75s 255,006 295,655 133,660 151,451 543,710 156,863 15,13^ .'AMOUNT OF ELIGIBLE PAPER DELIVEEEI1 TO F.P,. AGENT Total 216,277 1,029,582 270,394 203,625 149,405 111,584 349,530 135,^97 Gold redemption fund Total Richm. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. 5 2 0 , 5 6 c 2,084,?lto 540,760 530,140 311,620 314,c4o 320,200 310,700 155,080 214,520 149,750 423,800 6,484,940 COLLITEEAL SECURITY F^F OUTSTANDING X'TSS: Gold and gold certificates on hand Eligible paper, minimum required Phila. Clevel. - 37,025 ~ 2,500 10,709 15,183 360 73,889' 80,000 30,000 3,396 - - 80,938 261,537 3,270,721 8,831 - 255,151 180,487 621,960 170,408 163,447 103,300 268,623 930,758 255,006 295,655 133,660 151,451 543,710 156,863 83,256 109,204 £0,998 261,537 3»270,7^1 203,802 1,036,687 186,800 224,057 112,746 113,341 445,197 115,494 58,910 107,970 70,193 185,257 2,860,454
@FedFRASER