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Released f o r p u b l i c a t i o n Sunday morning S t . 2^9 March 9, 1919# not e a r l i e r « STATEMENT FOR THE PRESS March 8, %919« Aggregate g a i n s of 16*7 m i l l i o n s in cash r e s e r v e s , mainly g o l d , as a g a i n s t i n c r e a s e s of 5*4 m i l l i o n s in n e t deposits and of 16-2 m i l l i o n s in Federal Reserve n o t e c i r c u l a t i o n are i n d i c a t e d in tho Federal Reserve Board* s weekly bank statement i s s u e d as a t c l o s e of business on March 7* 1919War paper on hand shows an i n c r e a s e f o r the week of 33 -5 m i l l i o n s , holdings of o t h e r discounted paper f e l l off 2$.6 m i l l i o n s , and those of acceptances 3 -4 m i l l i o n s * As the r e s u l t of r e d i scounting w i t h other Federal Reserve banks f o u r Reserve banks r e p o r t aggregate contingent l i a b i l i t i e s of 69 *2 m i l l i o n s , a s a g a i n s t 73 *7 m i l l i o n s the week before + U- S* s h o r t - t e r m s e c u r i t i e s , c h i e f l y 1 - y e a r Treasury c e r t i f i c a t e s to secure Federal Reserve b a n k n o t e c i r c u l a t i o n , went up 4 , 1 m i l l i o n s - Total earning a s s e t s show an i n c r e a s e f o r t h e week of 8*6 m i l l i o n s . Government d e p o s i t s show a d e c l i n e of 15 m i l l i o n s , members1 r e s e r v e dep o s i t s increased 5 - 1 m i l l i o n s , while n e t d e p o s i t s because of t h e reduced " f l o a t n show an i n c r e a s e of 5 ^ m i l l i o n s • Shipments of Federal Reserve n o t e s f o r the use of American troops in France, also to the West I n d i e s , account f o r some of the i n c r e a s e in c i r c u l a t i o n abo ve n o t e d , e s p e c i a l l y the i n c r e a s e r e p o r t e d by t h e New York Bank. Following the enactment of amendmmt to Section 7 of the Act, the Federal Reserve banks t r a n s f e r r e d to Surplus account 26,7 m i l l i o n s which had been r e served a t t h e c l o s e of t h e year to pay the f r a n c h i s e t a x to the Government, i n c r e a s i n g thereby the Surplus f u n d to over 60 per c e n t of t h e p a i d - i n c a p i t a l of the Reserve banks * Released f o r p u b l i c a t i o n Sim day morning March $> 3-919, no e a r l i e r St.S^ga STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TV.ELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH J , 1919 , March 8, I9I8 March 7, 1919 February 28,1919 ' RE S O U R C E S $ 3^1,070,000 $345,762,000 $4-64,144,000 Gold coin and c e r t i f i c a t e s 513,227,000 463,484,000 354,535,000 Gold Settlement Fund. - F-R.Board 5,829,000 5,829,000 52,500,000 Cold with F o r s i g i a g e n d o s 858,126,000 815,075,000 871,229,000 Total gold held by banks i,i63,g4o,ooo 1,127,760,000 896,702,000 Geld with Federal Reserve Agents 117,513.000 120,163,000 20,267,000 Gold Redemption Fund 2,139,479,000 2,122,998,000 1,788,198,000 Total gold r e s e r v e s 65,93^,000 65,725,000 59,685,000 Legal tsr.dsr n o t e s , s i l v e r , e t c . 2 , 2 0 5 , 4 6 2 , 0 0 0 2 , 1 8 8 , 7 2 3 , 0 0 0 1 ^ 7 ,883,000 'focal r e s e r v e s Secured by 1,701,487,000 *1,667,965,000 264,501,000 B i l l s discounted:5 Government war o b l i g a t i o n s ( A l l other 186,240,000 * 211,855,000 255,839,000 273,4j3,QOO 276.919,000 517.952.000 Bi l l s bought in open market 2,161,220,000 2,156,739,000 838,292,000 Total b i l l s on hand 27,057,000 27,094,000 72,154,000 U.S.Government long-term s e c u r i t i e s 159,835,000 155,688,000 182,822,000 U--S•»Government short—term s e c u r i t i e s 4,000 4.000 4.064,000 A l l other earning a z e e t s Total earning a s s e t s 2,348,116,000 2,33.9,525,000 1,097,33 2,000 Bank premises 9,720,000 9,713,000 Uncollected i turns and other deductions from gross deposits 599,197,000 653,465,000 343,396,000 5/o Redemption Fund a g a i n s t F»R. bank notes 7,429,000 6,813,000 537,000 8,210.000 8,497.000 761,000 A l l other r e s o u r c e s TOIAL EESuLxOS 5,178,134,000 5,206,736,000 3,289,909,000 L I A B I L I T I E S 81,490,000 81,452,000 73,624,000 Capital paid-in 49,466,000 22,738,000 1,134,000 Surplus 195,559,000 210,547,000 56,208,000 Government d e p o s i t s 1,626,076,000 1,620,972,000 1,465,504,000 Due to memberu -serve account 456,289,000 494,653,000 216,986,000 Deferred a v a i l a b i l i t y items 123,363,000 124.012.000 zf 77.137.000 Other deposits including foreign government c r e d i t s 1 2,401,287,000 2,450,264.000 1,815,835,000 Total gross deposits 2,488,537,000 > 2,472,307,000 1,383,990,000 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 136,591,000 134,042,000 8,000,000 F. R, bank n o t e s in c i r c u l a t i o n - net l i a b i l i t y 20,763,000 !&2&°oo LJgi.oro A l l other l i a b i l i t i e s 5,178,134,000 5,206,736,000 3,229,909,000 TOTAL LIABILITIES Ratio* of t o t a l reserves to net deposit and F.R, note 51.4$ 51.35S 64.7^ l i a b i l i t i e s combined "Ratio of gold reserves to F.R. notks in circulation after 63.3% 63.155 setting aside 35$ against net deposit l i a b i l i t i e s * Amended f i g u r e s . Released f o r p u b l i c a t i o n Sunday morning March 9, 193-9* St.2U9b WEEKLY STATEMENT OF EE SOURCES AND LIABILITIES OF EACH OF THE FEDERAL RESERVE BAMKS AT CLOSE OF BUSINESS MARCH 7, 1919> (in thousands of d o l l a r s . ) ip t - i RESOURCES Boston New York Phi l a , Clevel. Riclxa. Atlanta Chicago S t . Louis Minn- Kans-Cy- Dal la. s San Fran. o a Gold coin and c e r t i f i c a t e s 3, 104 260,43 U 2X4 l4,44o ?59 8,293 22,555 4,325 2,268 92 , Wq4l 511 227 Gold Settlement l a n d - F-R.Board 43,537 53,226 46,862 66,152 29,341 21,435 121,461 22,919 26,372 29,654 14,325 35,9 3 5 , 7 S3I3EISL,, iStfitilfctitlisi all SiiltflRi>51 lawsss. m &MMM i e f - ' a sa ££i s ^mT.s e^ i9,toeI:o1! nW >i» ^3 ^''lotafeamin^LIet^" Bank premises Uncollected items and other deauctions from g r o s s deposits % Redeaption Fond - F.R.bank notes A l l other resources 'TOTAL RESOURCES "i73,3^ 800 905,915 2 0 3 7 1 ^ 7 ^ 7 9 7 ^ 1 0 3 , 6 0 9 3,302 500 100 296 9%.977 217 224,437 90,476 61,30s 102,503 2,944 5^0 - 400 r r 64 »^21 154,322 221 , c 4%,706 145,811 60,109 47,784 40,862 26,302 74,657 42,155 12,273 5 < 59 9, 1,269 1,812 6 25 544 16?. 393 731 305 227 690 315 188 2,113 852 5-28 621 §13 965 3 l l _ l ^ 4^—790 342,4o6 1,706,467 400,076 441,986 230,241 195,550 769,449 231,112 168,198 242,522 128,448 c 400 ),7X '-zcC 356 959 $ 2,343,116 c QQ 1 Q 7 j'kpq 7,429 ^10 321,619 5,17s, 3 I l i a ^ iSifM 111di111 111 I f I I I I so:! M M ^ 8:23 :## F.R.bank notes - n e t l i a b i l i t y " m ™ S E s 11,552 34,248 11,816 10,708 5,189 7,327 18,043 7,181 5,098 12, 6,279 e S 6>07 136,^1 32ll6l9l7r78,yU Contingent l i a b i l i t y as endorser on b i l l s d i s c o u n t e d w i t h W ©old t o Reserve banks other Federal 17,000 - 11,$00 - 20,000 - - ~ ~ * r 0 pz 7 Released f c r p u b l i c a t i o n Sunday morning March 9, 1919? no St.249c * earlier, STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE 01' BUSINESS MARCH 7, 1919(In thousands of d o l l a r s -) Boston New York p h i l a . Clevel. B i s k s . Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San FranFEDERAL EESFRVE FOTSS: Bece r , 3 d f r o n Ccx:p trc H e r Returned to Comptroller Chargeable to Acoat In hard.; of P.R.Agent Issued to F,R« bsr^. l e s s amount r e s u m e d to P.P.-Agent f o r r e demption COTJ-ATERAL SECURITY FOB OUTSTANDING N0:1B Gold coin and c e r t i f i c a t e s on hand Geld Pd amotion ?u-d Gold S u t h l ^ e n t Fund - F.R-Board_ Eli£,>hie paper, Minimum. r e q u i r e d Tc t a l AMCUFT OF ELIGIBIE PAPER DELIVERED TO P. R. AGiBTT Total 262 880 1,355 680 335,^20 333,240 205,220 2.04,960 563 560 171 720 124,880 158,700 1 0 1 , 9 6 0 252,920 4 , 0 7 1 , 7 4 0 75/765 18^,115 21 200 437,829 52__^ c kG?L_35iC^ 82!331 39.570 23.839 36,564 917,83! 241,501 279,388 154,5)3 169,522 "481,™229 132,150 101,041 122,13.6 152,400 20,500 32,770 23,075 54,325 45',000 10',635 n',500 l4'020 165,915 765,451 221,00 1 246,613 131,458 115,197 436,228 121,515 ^,670,903 29,541 108, 116 52,527__217133>o 2, 173,740 13,052 9.648 39',000 - 30,270 - 2,503 - 5,749 3,505 2,483 2,399 290,345 60,931 33,500 4U,36o 70,000 52,889 95,000 42,000 3^,270 12,441 12,184 11,355 3,079 273 25,70s 29,584 ,28x686 76,252 223,336 3,086,054 23,725 12,581 6,000 - , 2,787 1 2 , 9 5 ^ 3,684 78,258 415,150 232,146 79,^57 852,237 117 ^267 165,915 509 ^ 0 _ 3 5 ^ a ^ o ^ c ^ _ g 6 ^ H . a _ j 4 , j 5 i . 1U0 134 57.079 765,451 221,001 24b,618 131,45s 115,19/ "436^228 121,515 35. SOfa 61.357 89,541 108,116 33 • 475 JL26^124_1^Q7^0D1 52,527 217,336 2,670,903 160,4oo 844,819 159,098 152,365 9^,97^ 72,630 203,349 50,615 53,796. 133,867 2,101,419 75,907 87,599 M EM O S A N D A FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 165,915 7 jf% : M F. R. n o t e s outstanding F. R. notes held by bank F.R. notes i n a c t u a l c i r c u l a t i o n .5,03° 160, 876 B i l l s discounted B i l l s bought i n open market U.S.Golernuant short-terra s e c u r i t i e s Municipal warrants DISTRIBUTION OF BILLS, U.S. GOVERNMENT SHORT-TERM SECURITIES AND WARRANTS -Y MATURITIES Total Over 90 day; 6 l to 90 days 31 to 60 days l6 to 30 days Ui thin 15 days ,887,727 21,130 74,323 207,151 54,691 1,530,432 273 , 493 16,913 90,833 81,948 83,799 159,835 137,072 2,816 2.02 19,745 4 4 689, 212 210^99 230,950 128,544 111,823 415,139 108,431 88, lOo 101,2br: ; 1,200 192,888 2,428,537
@FedFRASER