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R e l e a s e d f o r p u b l i c a t i o n Sunday..morning May 18, 1919; not e a r l i e r , St.326 STATEMENT FOR THE PRESS. May 17, 1919 • I n c r e a s e s i n a l l c l a s s e s of i n v e s t m e n t s , m a i n l y i n war paper accompanied by s u b s t a n t i a l a d d i t i o n s to Government and member bank r e s e r v e d e p o s i t s are i n d i c a t e d by the F e d e r a l Reserve B o a r d ' s weekly bank statement i s s u e d as a t c l o s e of b u s i n e s s on May 16, I919. Of the t o t a l i n c r e a s e of about 75 m i l l i o n s i n earning a s s e t s 67-7 m i l l i o n s r e p r e s e n t s the n e t i n c r e a s e i n war paper, 2 . 9 m i l l i o n s - the i n c r e a s e i n other d i s c o u n t s , 2*7 m i l l i o n s - the i n c r e a s e i n a c c e p t a n c e s and 1*7 m i l l i o n s - the i n c r e a s e i n Treasury c e r t i f i c a t e s on hand. T o t a l earning a s s e t s show an i n c r e a s e of about 75 m i l l i o n s f o r the week and i n c l u d e about $19,000 of Victory n o t e s , r e p o r t e d by two banks. paper h e l d under r e d i s c o u n t f o r the F e d e r a l Reserve banks shows a decrease i n amount from 93 to 85<7 m i l l i o n s . Holdings of bankers' a c c e p t a n c e s i n c l u d e 3*6 m i l l i o n s bpught frcm o t h e r Reserve banks w i t h a l s o 27 .5 m i l l i o n s the l a t t e r ' s endorsement, bought from o t h e r r e s e r v e banks w i t h o u t such endorsement« Both Government d e p o s i t s , and members'* r e s e r v e d e p o s i t s show c o n s i d e r a b l e i n c r e a s e s , the former by 9 6 ' ! m i l l i o n s and the l a t t e r by 2 4 , 4 m i l l i o n s , while n e t d e p o s i t s are g i v e n a s about 100 m i l l i o n s more than the week b e f o r e . a g a i n s t the l a r g e i n c r e a s e i n d e p o s i t l i a b i l i t i e s , As the c i r c u l a t i o n of Federal Reserve n o t e s shows a r e d u c t i o n of 2 4 . 7 . m i l l i o n s , a l l the banks e x c e p t those a t P h i l a d e l p h i a , and S t , L o u i s r e p o r t i n g smaller f i g u r e s under t h i s head. The bank®'bank l i a b i l i t i e s on 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 show an i n c r e a s e of 3 *6 m i l l ions, To 0 tal c a s h r e s e r v e s show a gain of 3*1 m i l l i o n s , of which 1«5 m i l l i o n s i s gold. As the r e s u l t of the l a r g e i n c r e a s e i n d e p o s i t l i a b i l i t i e s the banks' r e s e r v e p e r c e n t a g e shows a d e c l i n e f o r the week from 51*9 to 5 p e r cent* R e l e a s e d , f o r " p u b l i c a t i o n Sunday m o r n i n g May 18, I 9 I 9 ; n o t e a r l i e r . . STATB5EMT OF CO!®IKED RESOURCES AMD LIABILITIES OF THE THELVE FEDERAL RESERVE BAI3ICS AT CLOSE OF BUSINESS MAY 16, I 9 I 9 . ESlllbr" Total gold r e s e r v e s Legal tender n o t e s , s i l v e r , e t c . Total reserves • B i l l s bought i n open market B a t ^ ^ S v e s 1,863 > 7 5 , 0 0 0 2, ^45,°57'°vC 18^.717.000 U. S . V i c t o r y N o t e s U*.S- c e r t i f i c a t e s of i n d e o t e d n e s s All other earning a s s e t s Total earning assets Bank p r e m i s e s U n c o l l e c t e d i t e m s and 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 5fo Redemption f u n d a g a i n s t F . R . bank n o t e s A l l other, r e s o u r c e s TOTAL RESOURCES L I A B I L I T I E S Capital paid-in Surplus Government d e p o s i t s Due t o members - R e s e r v e a c c o u n t Deferred a v a i l a b i l i t y items O t h e r d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s Total g r o w deposits :: I: A l l other l i a b i l i t i e s -_12^271,CCO 2,175,837,000 70,020,000 0 b l i g a t i 0 n s F.B. 2 - c 4 2 ' 7 ° 4 '0uC l^:o36:oGC 19,000 82,397,000 45,466,000 82,228,000 49,466,000 2,574,670,000 W.tel.KO 5,440,243,000 51.1$ * Ar-.m-')ed f i g u r e ? 62.9f0 202 363 000 89,761,COO 1,688,506,000 4 8 3 , 5 0 1 000 129 1 7 5 ' c o o 1 ' ^ 6 ' , 1 ^ 3 ',000 l&wtlooc. 2,379,846,000 10,574,000 626,034,000 7,'? ! ~V0G0 q'.227 1000 5,275,723,000 n o t e l i a b i l i t i e s combined R a t i o of g o l d r e s e r v e s t o 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 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 * 1,755,735,000 204,082.000 __ 2,454,889,000 10,976,000 7°9,355,000 8^924,'000 10.,242'.000 5,440,243,000 1S5.S41.C00 1,713,3^1,000 540,702,000 123 7So 000 _ 27^.000 1,854,404,000 38,308,000 2,174,348,000 ^JfJb^OOO " net l i a b i l i t y t o n e t d e p o s i t and * .SS:S feS „l40,75o,000 GoVlt,War B i l l s discounted S t . 186a ** 73 043 000 1 4c,2 000 1,237^727]000 382,509,000 '$30^000 77 1000 3,573,555,000 75,315,000 1,134,000 2,»l,3»3,06O 4 s 753 000 1,461,138,000 282 4 7 5 000 114*506000 T ^ S ^ S O O v'AV.000 12 3 2 l ' c t o 5,276,723,000 3 , 5 7 3 ! S^.OOO 51 9 ' J 5^ ^ **Includes One-year Treasury Notes. 63 r " R e l e a s e d f o r p u b l i c a t i o n Sunday morning May 18, 191$; n o t e a r l i e r . qt.^SGb 1EEKLY STATEMENT OF EE SOURCES AI'TB LIABILITIES OF 'THE FEDERAL EE SERVE BANKS AT CLOSEOF BUSINESS MAY l£>, 1919 • R E S O U R C E S (In t h o u s a n d s of d o l l a r s . ) Boston Hew York p h i l a , C l e v e l . R i c h n . A t l a n t a Chicago S t . L o u i s I,linn. Kans.Cy- D a l l a s Ran F r a n . Total, Gold c o i n and c e r t i f i c a t e s 3,117 254,301 543 1 5 , 4 3 1 2, l 6 l 7 , 7 9 5 23,164 3,9/4 8,34% 104 • 7 , 2 0 4 5,053 335,224 Gold S e t t l e m e n t F u n d - F . R , B o a r d 49_ L 998_ 80,95b 4 6 , 7 1 4 6 9 , 5 2 0 2 2 , 0 2 8 12,400 120,431 3 4 . 9 7 5 3 0 , 9 5 4 3 9 , 8 2 9 5,147 3o,vC2 548,954 T o t a l gold h e l d by b a n k s 5 3 , 5 5 75J5, zk, 3 9 , 3 0 1 3 9 , 9 3 3 12.'351 4 5 , 0 8 5 6b4,178 Gold w i t h F e d e r a l R e s e r v e Agents 52,327 289,339 65,300 142,853 3 0 , 3 3 1 "42.665 270/178 ' g 6 T " 3 l ' : % 7 17,157 108,023 1,150 9~>3 Gold Redemption JV.nd . 12JL£J 25,000 18.018 1,3-43 15,815 6.666 30,164 4,465 4^987 1 0 j 6 l 2,008 2,9:6 l40J56 Total, gold r e s e r v e s — 124,615 649,596 130,575 228,9^7 7 0 , 3 3 5 " 6 9 , 5 2 ( T # 3 , 8 3 7 I 0 1 , b S 4 87",1-51 8 1 , 9 9 1 31,516 I56,054^27175, 837 Legal tender n o t e s , s i l v e r , e t c . 7,4.57 52,679 392 1,187 324 1.660 1,286 2.227 ' 71 1U3 2,245 369 70,020 Total reserves 132,05 2 7 02,275 130,967 230,134 70,659 7 1 , 1 8 ^ + 5 , 1 2 3 103 * 911 87 , 222 8 2 , 1 3 4 ^ 3 3 , 7 6 1 156,433 2 , 2 4 5 , 8 5 7 B i l l s discounted; S e c u r e d by Government war 152,150 7 9 2,953 182,468 115,743 85,677 74,017 202,39 1 5 6 , 3 8 4 4 3 , 1 9 1 5 4 , 5 7 2 2b, 133 7 7 , 7 9 5 1 , 8 6 3 , 4 7 6 obligations (a) All other 4,966 32,618 13,408 4,923 11,54-7 11,636 13s 184 8.241 4 , 0 8 8 29,588 26.951 14,314 173,u64 B i l l s bought i n open m a r k e t (b) 15,204 42,69 1 922 2 0 , 4 6 4 JJUO 5,64l 24,4l2 3^668 10,417 1,762 1,073 5 0 , 7 2 ) 15 k. 717 T o t a l b i l l s on h a n d 172,320 8b8,2b2 196,798 141,130 104,964 S l t ~ 2 & T & 9 , 9 S ' r " 6 ' O ^ ^ T 7 b ^ ^ 5 7 9 2 2 _ 3 4 7 l 5 9 ~ l ^ Z " S 3 2 " 1 , 2 2 3 7 ^ T ~ TI-.S.Govsrrment b o n d s — 530 1,303 1,385 1,083 1,234 . 376 4,4?6 1,153 116 8,268 3,966 2,632 27,131 U.S . V i c t o r y n o t e s — g 1 1 19 U . S . c a r t i f i c a t e s of i n d e b t e d n e s s _ j £ ^ 6 1 5 , 4 1 0 18,690 l 6 r 0 0 4 RT4bO 9 , 6 3 4 20.612 14.682 9.279 6.495 4,900 6,000 204,082 T o t e l -earning a s s e t s 189,775 944,975 216,873 158,217 111,658 1 0 s , 3 1 2 2 6 5 , 0 / 5 8 4 , 1 2 8 6 7 , 1 0 2 101,285 6 3 , 0 2 5 151,464 2 , 4 5 4 , 8 5 9 Ban,c p r e m i s e s 800 3,77 2 500 875 312 218 2 , 93b 541 401 22 1 400 10,976 U n c o l l e c t e d i t e m s and o t h e r ded u c t i o n s from g r o s s d e p o s i t s — 64,726 175,832 6 3 , 2 7 0 6 3 , 0 2 8 4 5 , 3 0 1 3 7 , 0 8 2 81,079 48,067 16,227 54,413 24,354 35,976 709,355 5/j Redemption Fund a g a i n s t F.R. bank n o t e s 843 1,851 925 797 196 44g 1,566 571 267 729 371 359 5,924 All other resources 361 2,255 1,006 571 1,942 315 1,109 425 195 427 701 933 10,242 TOTAL RESOURCES 308,557 1 , 8 3 0 , 9 6 0 4 i j , 5 4 i 453,622 230,068 2 r 0 ~ ^ ^ 7 S ^ 8 " 8 ^ J 7 ^ ^ 4 3 _ l 7 T 7 0 i ~ 2 J 9 7 J 8 " 9 ~ T 2 2 ^ ^ 3 4 5 , 5 6 / 5,44(1;243— , x . (a) I n c l u d e s b i l l s d i s c o u n t e d . f o r other F.R.banks,viz (b) I n c l u d e s b a n k e r s ' a c c e p t a n c e s bought f r o m o t h e r F . R . banks F i t h t h e i r endorsement Hithout t h e i r endorsement 1.1 E II 0 R A N D A - - 3,597 - - - 9,965 - - - - - - 60,688 254 - - 15,000 - 1,617 - - - - - 25,622 85,653 3,597 27,%3 St-3Coc Be l e a s e d f o r p u b l i c a t i o n Sunday morning May 18. lQig; n o t e a r l i e r . TIL-mOA SlAmiEiiT OF EUSOUBCES Al-iD LIABILITIES OF THE FEDERAL EE SERVE BANKS AT CLOSE OF BUSINESS MAY l 6 , I 9 I 9 . ( I n t h o u s a n d s of d o l l a r s . ) Boston New York p h i l a Cap i t a l . p a i d, - i n — —-— 6, 84s 21,343 7,597 21.117 2,6og 2,996 Government d e p o s i t s 2*,5S1 is,c4o 29y,o37 ' Due to Members - Reserve Acccunb io4 562 7 3 1 , 4 3 4 90,420 r e f e r r e d a v a i l a b i l i t y items 131, b SB 6 2 , 5 7 1 5?,245 _A.l 1 c t r clcp cox v s ——— — — — 67J I L 113. S2S Total gross deposits 187 , 3 993,349 177,710 F.R.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 17J 595 742,067 204,912 F . E* bank n o t e s i n c i i c u l a t-ion - n e t l i a b i l i t y — 16,592 3 5 , 9 2 9 17,920 AH other l i a b i l i t i e s 12, I I 5 9,7o-i. 2,57 5 TOTAL LIABILITIES — — 332,557 1,8;>o,3°o 4 i 3 , | > 4 i L I A B I L I T I E S C l e v e l . R i c h n . A t l a n t a Chi cago S t ; L o u i s 9,200 4,193 3 , 2 4 1 11,434 3,833 6,4J6 2.196 3,552 1,510 1,603 17, 155 3 , 1 6 5 10,055 27, 010 12,184 150.503 52,847 50,33-3 41,267 2 ^ 4 6 3 3'6s,676 61 2'S5_ 111 4oi 198,266 97,940 82,533 3 3 0 , 7 8 1 112,436 2 2 5 , 1 7 1 118,754 113,171 422,396 1 0 5 , 4 9 1 %:U Minn. Kans-Oy. D a l l a s San F r a n . Total 2., 982 4,703 3,773 3,235 82,397 1,4.15 1,134 2,-"21 2,448 43 466 3,4,2 12,217 18r>, 841 8,809 17„466 4Q,642 75 : 5 r ; 3 39 ?K O 86,003 1, 7 1 3 : 3 4 1 L4 11,231 3 5 , 9 5 5 20,6K2 549,702 4.12 _ 2 J 1 1 _ l?.!Z:.7g6 l4i _5_@i 73>502 122,046 b3. llU 130,002 2, 5 7 4 , 6 7 0 36,5 95,835 ,532,039 15,129 5,304 8,829 22,590 13,094 5,671 13,465 6,79s 6,724 16 s, o': 5 1,671 2JC4 1,27s 3 , 2 7 1 1, 544 _i,„2y„i 1,131 938 334 3L626_ 2,^9 453,6; 230,068 210,502 756, 888 237 , 643 171,013 239,339 122,433 # 5 , 5 6 7 5, "440 243 MEMORANDA C o n t i n g e n t l i a b i l i t y a s e n d o r s e r on Discounted pacer r e d i s c c u n t e d w i t h o t h e r $•„£, banks B a n k e i s ' accupiiaiives s o l d to o t h e r FUR- banks 3,597 25,315 35,000 25,338 85,653 3,597 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 179,630 F . R, n o t e s h e l d by bank 8,035 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 171,595 832,290 215,007 233,500 122,695 116,544 456,773 120,044 87,729 101,894 48,672 221.487 2,741 265 90,223 10,095 13,329 3,931 3,373 34,377 14,553 1,224 ' 6,059 1,531 22] 196 209,226 742,067 204,912 225,171 118,764 113,171 422,396 105,491 86,505 95,335 46,8^1 199,291 2,532,039 DISTRIBUTION OF BILLS AND U.S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES, Within 15 days B i l l s discounted B i l l s bought i n open m a r k e t — U . S . c e r t i f i c a t e s of i n d e b t e d n e s s - 1,765,491 57,255 34,655 l6 t o ) 0 days to 60 days 64,850 4o, 139 3,392 70,024 60,787 3,971 6 l t o go days 119,991 26,536 109 Over 90 days 18,584 161,955 Total 2,038,940 184,717 204,082 st.3s6a R e l e a s e d , f o r p u b l i c a t i o n Sunday m o r n i n g May I S , I 9 1 9 ; n o t e a r l i e r . STATEMENT OF FEDERAL RESERVE AGENTST ACCOUNTS AT CLOSE OF BUSINESS MAY 1 6 , 1 9 1 9 , ( I n t h o u s a n d s of d o l l a r s . ) B o s t o n FEDERAL RESERVE! NOTES,: ' ' ' . Received f r u n Comptroller Returned to Comptroller C h a r g e a b l e t o F . R* Agent I n h a n d s of F . R. Agent I s s u e d t o F,R„ b a n k l e s s amo -, mt r e t u r n e d t o F . E , A g e n t f o r "redemption New York p h i l a . C l e v e l . 3C6,4qo 1,533,380 352,820 3^9,800 R i c h n , A t l a n t a Chicago S t . L o u i s Minn, E a n s . C y - D a l l a s 602,280 195,860 1; 0 . 8 8 0 162.300 101, Q60 .99,050 207,350 27,720 5 5 / / A O 128,693 7 9 , 5 8 0 7 0 , 4 3 5 4 5 , Q l 6 136,227 9 / 5 , 9 ) 0 224,12% 2 7 0 , 2 2 0 1 5 2 , 2 8 5 1 7 b " , 0 3 4 ^ 6 , 0 ^ 3 143,600 9,120 31,720 29,590 59,540 29,280 56,236 lo'cu k6'. &G 30,6C3 19,580 13, l 4 o 13 ] 780 22,685 179,630 832,29O' 215,007 238,500 222,7 20 122,695 222,000 116,544 456,773 1 2 0 , o 4 4 87,729 101,894 San F r a n . 275.260 Total 4,455,660 5 0 J 7 3 X,y,l 3,000 640 402J55 48,672 221,487 2 , 7 4 1 , 2 6 5 COLLATERAL SECURITY FOR OUrSI/JIDlNG- NOTES: Gold c o i n a n d c e r t i f i c a t e s on II Total — - II 179,630 832,290 215,007 238,500 AMOUNT OF ELIGIBLE PAPER DELI vEPiED TO F . R. AGENT — 1 7 2 , 3 2 0 868,262 150,542 l4o,o4i 9 6 , 1 4 4 A I I I I .11 m 1 2 2 , 6 9 5 1 1 6 , 5 4 4 456,773 120,044 80,535 239,987 67,646 87,729 1C51,S94 57,109 85,922 48,672 SE JU520^3b 221,4s7 2j4l2.65 54, 159 1 2 2 , 8 7 4 2 , 1 3 5 , 5 ^ 1
@FedFRASER