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I STATEMENT :roR THE PBESS CONDITION OF FEDERAl.· RESERVE BANKS The consolidated statement of condition of the Federal reserve bankS on March 5, 1924, made public by the Federal Reserve Board, shows a decrease of $43,300,000 in holdings of bills discounted and of $3,600,000 in·acceptances purchased in open market, partly offset by an increase of $26,300,000 in holdings of Governr~nt securities. Federal reserve note circulation declined qv $2,500,000, cash reserves by $6,900,000, and members' reserve deposits by $19,80C,OOO, while Go·1er:nment deposits increased by $21,000,000. A decline of $42,800,000 in holdings of bills discounted is reported. by the Federal Reserve Barik of New fork, of $6,100,000 by Cleveland, of $5,000,000 by St. Louis, of $4,300,000 by Philadelphia, and of $3,500,000 by Boston. The Chicago bank shows an increase of $9~700,000 in holdings of discounted bills, and San Fr~~ cisco ar~. Richmond show increases of $7,600,000 and $3,500,000, respectively. Of the total of $488,300,000 of discounted bills held on March 5, $211,900,000 represents paper secured by Government obligations, of which amount $138,200,000 was secured 'ey Liberty and other U. S4 bonds, $65,600,000 by TreasurJ notes, and $£,100,000 b,y certificates of indebtedness. Holdings of acceptances purchased in open market declined by $3,600,000 durir~ the week, while Government security holdings, mostly TreaPury notes, increased by $26,300,000,all Federal reserve banks except Philadelphia participating in this increase . ... I.- St. 3967 Federal Reserve Board, March 6, 1924. Released for publication Friday morning, Mar .. 1; not earlier. • . . I ' An increase of $4,400,000 in Federal reserve note circulation is reported by the Federal reserve bank of San Francisco, ar~ an aggregate increase of $8,200,000 by seven other banks. These increases were, however, more than offset by a decline of $6,300,000 shown by Chicago, $6,200,000 by Cleveland, ar~ $2,400,000 by Philadelphia. Gold reserves decreased by $6·,ooo, 000 during the y,eek, . ltaserves other than gold b,y $900,000, and non-reserve cash by $2,900,000. · ~- . .) . A summary of c:1an~es· in the principal assets ar..O liabilities bar.ks during the week and the year end in;; March 5, 1924, follows: Increase Total reserves . Gold reserves Total earning assets . .. Bills discounted, total Secured by U.S. Government obli:-rations Other bills discounted . Bills bou;ht in open market . u. s. Government securities, total . . ... . . . Bonds • .. Treasury notes Certificates of indebtedness .. . .. . .,, ' ~ . .. . .. ... . .. . .... Federal Reserve notes in c i:rculat ion ... . Total deposits . Iv!embers 1 reserve deposits Governrr.ent deposits . Other deposits . .. J c. .. . of the reserve or decrease during Year Week - $ 6,900,000 + $ 21,500,000 6,000,000 + 33,100, oco 205,0C0,000 2o,6oo,coo 83,200,000 43,300,000 118 1 200 1 000 51, 6oo,ooo 3,300,000 + 35,000,000 + 3,6oc,oco + 40,900,000 162,800.000 26,300,000 + 10,500,000 1,100,000 24,600,000 + + 1,700,000 153,4001000 + - + + - 236,500,000 2,500,000 200,000 + 43,200,000 19,80c;ooo + 27,000,0CO 21,000,000 + 20, 700,000 4,500,000 1,000,000 fl. P, . . I ,. ... ; ..... : .. ... ... ' " ·. M (((; ·3, ,. X < ........ _............... . . · St. 3967a Relasoo for ptlblication Friday morning, March ·-7, 1924. RESOURCES AND LIABILITIES OF THE TVI!ELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Mar. RESOURCES Gold with Federal reserve agents • Gold rederrption fund with U.S.Treasury. Gold held exclusively against F.R.notes Gold settlement fund with F. R. Board • Gold and gold certificates held by banks 1 f'J •• Tot_SlLg_q:t_~~J'~§~r~ • • • • • • ~ • Reserves other than gold • .. Ncn-reservetcash • • • . . Bills discounted: Sec. by U. S. Government obligations • Other bills discounted • Total bills discoun~ed • • ,. • • Bills bOUght in open market · • U. S. Government securities: k • • • • • I I I Bonds . • .. . .. -. .. .. . . . . • • .. . Treasury notes • • • • • • • • • • • • Certificates of indebtedness • • • • Total U. s_ Government securities All other earning assets • . • • • Total earnipg assets ' . r:' . 5P Redemption fund - F.R. Bank notes •• Uncollected. items • .. • • • • • Bank premises • • • .. • • • • • All other resources • • . • .. I • TOTAL RESOURCES . . . . . ') LIABILITIES F.. R. notes in actual circulation F.. R. Bank notes in circulation - net .. Deposits: Member batik - reserve account • Governnen t • • Other deposits -. •• •• •• •• • • . • ' . Total deposits • , • • Deferred avail~bility items • • • • Ca.pi tal paid in Surplus .. . ~ · · .. .. · · • · · · · · All other liabilitie~ : : : : : : : : • TOTAL LIABILITIES Ra~io of total. reserves to deposit and· • R. note 1labilities combined ••• Contingent liability on bills purchased for foreign correspondents • • • • · • 5~ 1924 Feb. 27.1924 Mar. 7. 1923 2,050,306 48,393 2,C<j8,699 644,584 373,480 3,116,763 106,059 3, 222,822 48,116 211,938 276,370 488,308 259,737 18,3~; 130, 2Wf" y.. 33,499 182,066 lCO 930,211 2,109,124 42,o69 2,151,193 6oo,085 371,469 3,122, 747 106,993 3, 229 J 740 51,091 263,512 266,078 531,590 263,310/ '1 / 18,3~7 l05,6U-1 31, 1n 155,801 100 950,601 330,093 241,394 571,487 218,88628,842 *129, 134 186,911 344,887 1,135, 260 28 55,197 22, ~·77 4,884, 655 561,438 55,169 21,623 4,889,890 311 613 t956 47,937 17,120 5,091,002 2,019' 773 2,022, 301 405 2, 256,302 1,926.514 1,879,697 38,773 1,906, 729 59,463 19,834 1,986, 026 532,998 110,831 220,915. 13,710 4,884,655 10,720 38,441 j ; 645,265 311,550 3..·:os3 J 641 . 117,633 3, 201,274 70,144 28 402 .} 2, 126,so6 6o6, 2o4 2, 788 20.876 1,985,331 535,818 110,880 220,915 13,740 4,8&9,890 5, 031,002 12,366 23,844 *Includ.if:€ Victory notes. · c. 2,074,043 52,763 24,392 1,942,862 549,513 lC£,852 218 J)·~69,.. 12,310 '' ·~ tor publication on Friday mornir.g, March 7, 1924; not earlier. RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANKS AS AT CLOSE OF BUStNESS, MARCH 5, 1924. (In thousands of dollars) St. 3967b RESOURCES Federal Reserve B~~k of Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total : Gold with Federal Reserve agents 172,498 583,041 181,794 203,829 59,256 94,447 343,840 67,524 58,900 52,780 18,118 214,279 2,050,306 i Gold redemption fund with u.S.Treas. 6,461 5,877 9,918 1,594 3,155 3,7~ 3, 743 ..3,385 2,4o5 2, 707 1,963 3,447 48,393 ' Gold held exclusively against [, F. R. notes· 178,959 588,918191,712 205,423 62,411 98,185 347,583 70,9C9 61,305 55,487 20,081217,726 2,098,699 , ~14 settlement fund with F.R .. Board 73,396 150,581 22,800 94,478 25,818 17,064 136,466 21,217 19,469 37,823 7,447 38,025 644,584 r Gold and gold certif. held by bal1ks 18,278 185,322 39.097 12,46L_i,988 7,193 51,824 4,566_..:!9.!.:,2:::5::..:::9_...::3~·..::::3::...34..;__.::1.::..2!..;:,2::8..::::3_2...::2_~·8_7:..::3:...._-:3;_;7...::;,3~·4_8_0 Total gold-reserves 270,633 924,821 253,609 312,}64 95,217 122,442 535,873 96,692 90.033 96,644 39.811 278.624 3,116,763 .8.;. .Pt. . .:68:.;. . .; . o__29~·--65:r_.4_-:3.....,;t_;.6~1!9'---__9LI.W::3L99.e._--'3lt.,:5~5.::..5-L9 5~3:.,:.1_....:1=1.L.,89=..t!..t!-3~1~3:J...!4..:..4.:..:1:___:1:.e..,.=10:.:::5~__4:.11...L72::..:1:___;6:::.J!!.....:44~7~3 ~ 106, 059 . lle serves other than gold Total reserves 279,313 954,475 257,258 321,763 98,772 131,973 547,766 110,133 91,138 101,365 46,258 282.608 3,222,822 !fen-reserve cash 3, 797 11,047 2,089 3,740 2,582 5,539 5,859 3,796 698 2,612 2,583 3, 774 48,116 · Bills discounted: · Sec. by tT. 5, Govt. obligations 18,218 59,601 30,379 17.299 21,503 9,223 27,538 9,334 2,805 3,224 1,303 11,511 211,938 other bills disco"Unted 13,477 21,059 9,635 15,862 34,342 34,941 37,562 24,24o 12,885 23,747 9,026 39,594 276,370 Total bills discounted 31,695 80,660 40,014 33,161 55.845 44,164 65,100 33.574 15,690 26,971 10,329 51,105 488,308 Bills bought in open market 22,504 56,862 ~8,389 31,456 2,754 9,963 36,583 4,865 5,147 10,527 }8, 764 21,923 259.737 u. S. Government securities: 544 1,:::02 549 919 1,191 146 4,426 1, 332 1, 780 Bonds 9,544 20,940 20,321 16,613 2, 703 3. 733 16,090 2,724 3,025( 8,775 9,527 16,252 130,~~ Treasury notes Certificates of indebtedness ~2~·~5~86~~~s~.3~1~3~~2~,o~6~6~-4~·~n~4~~l~·~e~~~_;1~,~4~~~-5~·~5~oo~~l,~o~7~8~~8~ 1,~4 1,~4 2,8~ 33.~9 Total U. s. Govt. securities 12,674 }0,455 22,936 21,866 5,125 5,357 26,016 3,802 11,099 10,681 13,001 19,054 182,066 100 100 All other earning assets L::' 2~ 18,3~~ 66,873 168,077 81,339 86,483 63,724 59,484 127,699 42,241 31,936 48,179 62,094 92,082 930,211 Total earning assets 28 28 5~ Redemption fund - F.R. Bank notes 52,999 125,643 50,898 56,748 51,495 25,310 90,857 32,400 13,287 38,735 28,97S 38,854 6o6,204 Uncollected items 4,312 13,982 1,111 9,-109 2,528 2,692 8,264 1,514 2,380 4,595 1,911 2,799 55,197 Bank premises 199 3,367 368 338 4o6 639 522 167 5,980 740 4,948 4,403 22,077 All other resources 407,493 1,276,591 393,063 478,181 219,507 225,637 780,967 190,251 145,419 196,226 146,soo 424,520 4,ee4,655 TOTAL RESOURCES c. • . ~ . __...... - r- _. St. 3967c ::leleaaed for publication Friday rwrning, March 7, 1924; not earlier. r-ESOURCES .AJ.'lD LIABILITIES OF THE FEDERAL BESERVE B.AN!CS AT CLOSE OF BUSINESS, MARCH 5, 1924. LIABILITIES (In thousands of dollars) Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. Total Federal Reserve Bank of F R notes in actual circulation ·F:n: Bank notes in circulation - net Deposits: Met:t.ber 1;)ank - raserv:a aceount Government Other d e:po sits Total depcsi ts Deferred availability items Capi ta.l paid in Surplus 204,105 372,537199,105 223,775 36,491 132,628 343,030 69,671 67,936 65,199 45,365 209,9312,019,773 4o2 4o2 124,669 697 .335 115,731 153, 74o 8,456 2,::02 5,913 5,313 10,074 220 319 1,145 130,202 715 865 11u ,252 165 798 96,445 45,123 51,387 48,518 29,728 10.127 12,488 7,919 16,390 59.929 19.,927 23,691 2,087 529 1,042 359 407,493 1,276,591 393,063 478,181 J All other liabilities TOT.~L LI"~BILITIES Ratio of total reserves to dapo sit and F. R. note liabilities combined, :r::er cent 87.7 Contingent liability on bills purchased for foreign c.orrespondents 3,120 1 81.1 1~04o 82.6 1,254 65,185 1,196 144 66,525 48,159 5,835 11,672 825 219,507 292,795 69,249 50,414 77,004 54,963 20,602 3,365 1,322 1,477 1,333 1,528 436 380 336 375 3141925 73,050 52,111 78,817 56,676 76,043 31,767 13,245 37,504 30,4 73 15,065 5,067 3.490 4,545 4,202 7,484 9,496 7.577 3~. tg§. ... lQ..O 72 b24 1,153 1,478 665 2,105 225,63 7 780,967 190,251 145,419 196,226 146,800 64.6 611 56,594 4,Eo2 136 61,332 16,961 4,465 8,950 1,301 68.0 472 83.3 1.597 77.2 525 70.4 75.9 386 493 45.3 144,050 1,906,729 ,,682 59,463 ,741 19,834 152,473 1,986,026 37,373 532,998 7,900 110,831 15,301 220,915 .. . 1,542 13,710 424,520 4,884,655 78.0 4o7 815 10,720 FEDERJ\L RESERVE IDTES OUTSTANDING AND I!iT ACTUAT.J CIRCULATION 224,685 20.580 204,105 F. R. notes outstanding F. R, notes held by oanks F. R notes in actual circulation Bills discounted Bills bought in open market U. S. Certificates of indebtedness w. • .... DISTHIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES From 91 days 16 to 30 days 31 to 60 days 61 to 90 days Over deys to 6 months 15 304,183 115,726 948 Within 677,482 230,762 248,651 96,310147,150 375,692 83,699 71,966 76,983 48,74o 255,083 2,537,203 304,945 31,657 24,876 9,819 14,522 32,662 14,028 4,030 11,784 3.375 45,152 517,430 372,537199,105 223,775 86,491 132,628 343,030 69,671 67,936 65,199 45,365 209,931 2,019,773 - 44,538 4o,416 10,304 66 751 6o .334 J 47,876 42,065 157 20,365 1,196 7' 703 6 months 4,595 14,387 Total 488,308 259,737 33,499 Released for publica-e ion Friday morning, March 7, 1924.; not earlier. FEDERAL RESERVE AGENTS• ACCOlnJTS AT CLOSE OF BUSINESS, MARCH 5, 1924. (In thousands of dollars) Cleve. Rich. Atlanta Chicago Boston New York Phil a. Federal Reserve Agent at RESOURCES so, 100 2B2,06o 54,16o 53,190 33,365 74,417 174,080 Federal Reserve notes on ha;1d 677,482 230,762 248,651 96,310 147,150 375,692 Federal Reserve notes outstanding 224,685 Collateral security for Federal Reserve notes outstanding: 2,400 8, 760 Gold. and gold certificates 235.531 14,000 35.300 1,961 6,047 7,195 14,198 31,510 10,905 13,049 Gold redemption fund 123,000 316,000 156,889 182,000 57,295 86,ooo 336,645 Gold fund - F. R. Board Eligible paper 94,441 48,968 '44,822 37,054 52,703 31,&52 52,15 7 Amount rey_uired 2,012 784 69,624 23,153 .1,603 16,920 19,925 Excess arnount held TOTf.L St.Louis Mir.n, Kans.Cy. Dallas San Fran. Total 27, 30J ~3,699 13,385 71,966 30,453 76,933 947,262 30,932 82,720 48,74o 255,083 2,537,203 11,430 4,094 52,000 13,052 1,848 44,000 3,420 49,360 7,6~31 328' 184 2,927 19,548 116,702 7. 500 194,731 1,605,420 16,175 20,746 13,066 6,652 24,203 12,882 30,622 17, 615 40,804 31,293 486,897 223,209 532,082 1,660,177 517,287 567,412 251,410 369,501 995,088 215,444 168,969 197.301 146,027 624,179 6,244, 877 LIABILITIES Net amount of Federal Reser-re notes ·received from Comptroller of the Currency 305,385 959,542 284-.922 301,841 135,175 221,567 549,772 110,999 90,351107,436 79,672 337,803 3,484,465 58},041 lb1' 794 203,829 117,594 50,571 61,742 58,900 19,718 18,118 214-279 2. 050, 3o6 48,237 72,097 710,106 Colla"-eral received from Federal Resarve Bank: · Gold Eligible paper TOTAL 172' 498 54,199 59,256 56,979 94,447 343,840 53.487 101,476 67,524 36,921 532,082 1,66o,177;.517,287 567,412 251,410 369,501 995,086 215,444 168,969 197,301 146,027 624,179 6,244,877 c. 52,780 37,085 •
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