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STATEMENT FOE THE PRESS. 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 2 , 1920; n o t e a r l i e r . S t , 1124 F e d e r a l E e s e r v e Board# 1» 1920* CONDITION OF FEDERAL RESERVE BAMS Furth.Gr i n c r e a s e s of l 6 • 5 m i l l i o n s i n b i l l s s e c u r e d by Government war o b l i g a t i o n s and of 4 0 . 4 m i l l i o n s i n o t h e r d i s c o u n t e d b i l l s a r e i n d i c a t e d i n t h e F e d e r a l R e s e r v e B o a r d ' s weekly bank s t a t e m e n t , i s s u e d a s a t c l n s e of b u s i n e s s on A p r i l 3 0 , 1920. F e d e r a l R e s e r v e n o t e c i r c u l a t i o n , f o r t h e f i r s t t i m e s i n c e A p r i l 9 , shows a n i n c r e a s e of 6 - 3 m i l l i o n s , w h i l e t h e Banks' c a s h r e s e r v e s d e c l i n e d by 12«8 m i l l i o n s . As a consequence of t h e s e c h a n g e s , t h e r e s e r v e r a t i o shows a f u r t h e r d e c l i n e f r o m 43 t o 42.4 per cent. H o l d i n g s of a c c e p t a n c e s p u r c h a s e d i n t h e open m a r k e t show a n i n c r e a s e of 2 . 6 m i l l i o n s , w h i l e T r e a s u r y c e r t i f i c a t e h o l d i n g s show a nominal d e c l i n e of O.b m i l l i o n . T p t a l e a r n i n g a s s e t s were a b o u t 59 m i l l i o n s l a r g e r t h a n t h e weak b e f o r e # Of t h e t o t a l of 1,465.3 m i l l i o n s of l o a n s s e c u r e d by Government war o b l i g a t i o n s , 6 9 0 . 9 m i l l i o n s , o r 4 J . 1 p e r c e n t , were s e c u r e d by L i b e r t y bonds, 2 9 5 . 6 m i l l i o n s , o r 2 0 . 2 p e r c e n t , by V i c t o r y n o t e s , and 478-9 m i l l i o n s , or 3 2 . 7 p e r c e n t , by T r e a s u r y c e r t i f i c a t e s , a s a g a i n s t 4 b . 7 , do.d and 33*1 p e r c e n t of a t o t a l of 1 , 4 4 8 . 8 m i l l i o n s of l o a n s s e c u r y eminent o b l i g a t i o n s r e p o r t e d t h e week b e f o r e . D i s c o u n t e d p a p e r e y t h e B o s t o n , New York and C l e v e l a n d Banks i s i n c l u s i v e of 1 4 9 . b m i l l i o n s of p a p e r d i s c o u n t e d f o r t h e P h i l a d e l p h i a , Richmond, C h i c a g o , S t . ouis, M i n n e a p o l i s , Kansas C i t y and D a l l a s Banks, w h i l e a c c e p t a n c e s h e l d a t p r e s e n t by t h e New York, C l e v e l a n d , and San F r a n c i s c o Banks c o m p r i s e l o . l m i l l i o n s of b i l l s a c q u i r e d f r o m t h e New York, S t . L o u i s a n d San F r a n c i s c o a • Government d e p o s i t s d e c l i n e d by 5 m i l l i o n s , members r e s e r v e d e p o s i t s i n c r e a s e d by 3 - 8 m i l l i o n s , o t h e r d e p o s i t s , i n c l u d i n g 0 r e i g n government c r e d i t s , i n c r e a s e d by 2 . 1 m i l l i o n s , and t h e " f l o a carne by t h e R e s e r v e Banks a n d t r e a t e d as a d e d u c t i o n f r o m g r o s s d e p o s i s 3 8 . 5 m i l l i o n s l e s s t h a n t h e week b e f o r e . Net d e p o s i t s f i g u r e ou a 103 m i l l i o n s above l a s t w e e k ' s f i g u r e . The b a n k s ' a g g r e g a t e l i a 1 F e d e r a l R e s e r v e Bank n o t e s shrw a f u r t h e r d e c l i n e of 2 . S m i l l i o n s . Gold r e s e r v e s , a s a r e s u l t of f u r t h e r w i t h d r a w a l s f o r e x p o r t , show a d e c l i n e of a b o u t 13 m l l i o n s , w h i l e o t h e r c a s h r e s e r v e s i n c r e a s e d by t h e nominal amount of 0*2 m i l l i o n . An i n c r e a s e of $275»000 i n c a p i t a l a c c o u n t i s due l a r g e l y t o i n c r e a s e s i n c a p i t a l and s u r p l u s of rrember banks i n s e v e r a l of t h e F e d e r a l R e s e r v e d i s t r i c t s . S t . 112% ••Released f o r Pp u b l i c a t i o n Sunday morning, May 2, 1920; n o t e a r l i e r . T STATEMENT 0? COMBINED RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS. s • $ : 0UUaU0ns ^ ^ indebtoinoss ^toi]jir:;s:L U n c o l l o c t o d itoL.s and o t h . r d e d u c t i o n s froi.-. g r o s s d e p o s i t s 5# A d e m p t i o n f u n d , ; , i „ s t F . R . B=nk n o t e s A 1 1 O t " «fn sn " « SI ~ -i:lE « 4113 498! 4$:E $ 0 ^ r S E S l=£S™r™> . .. -13%=:::: " * !i tlon wt uv HE5Er " ^ -- F . T?- 713.353.OCO l|,0g.0C0 ; s e r v e s t o n s t d e p o s i t and F . R. n o t e 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 ; 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 ^I'ufs'ooo 636'000 s'.oioiom 6,100,325,ooo 5,302,226,000 i l l " " "111 ms W& JSS citing 42.4f0 43.0f» 51-7^ 46.7/o 47.7^ 63.4fo R e l e a s e d , f o r p u b l i c a t i o n S u n d a y m o r n i n g , May 2, 1920; n o t e a r l i e r . St.1124b RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS APRIL JO, 1920. R E S O U R C E S ( I n t h o u s a n d s of d o l l a r s . ) F ° d e r ~1 R e s e r v e Bank; of B o s t o n New York P h i l a . Clove 1 . R i c h m . A t l a n t a C h i c a g o S t . L o u i s Minn . K a n s . C y . D a l l a s San F r a n . Total GoldW"cold certificates 11,5SS 53 , 532 1,0^9 i o , 3 3 i 2,299 6 , 9 5 9 2 4 , 3 4 6 3 , 9 4 0 7,262 566 5, 196 1 2 , 4 6 3 174,561 Gold s e t t l e m e n t funo. - F . R . B o .rd 34,72? 6 3 , 5 4 5 29,365 5 9 , 7 7 2 1 9 , 5 4 6 5,521 70,550 9,762 5,749 25,652 6,52b jo,&54 3,6,003 Gold w i t h f o r e i g n a g e n c i e s 5,233 41,390 2J223 9,242 5,526 4,060 13,421 5^01 \4l3 2,933 -5,1S| l l g j g T o t a l s o l d h e l d by banks 54,6os 155,46? 3 9 , 4 ) 7 7 9 , 3 5 7 27,671 2 1 , 5 7 0 105,347 19,003 10,056 34,667 17,657 56,505 063,^45 Gold w i t h F . R . A g e n t s 119,0?2 3 1 7 , 2 1 ? 5 7 , 5 0 3 142,213 4o,9l4 5 4 , 5 2 1 160,315 ^ , 3 9 9 3 3 , 4 5 ? 34,646 2 7 , 5 4 1 7 5 , 5 0 0 1,137,926 Go l a r e d e m p t i o n f u n d 19,215 26,956 11,529 1,439 6 ^ 9 5 , ? 6 ? 35, 104 5^10 6l0 5,352 f , 195 1 0 , 2 7 o l & J m Tot .1 g o l d r e s e r v e s 192,595 532,670 1 3 2 , 4 6 9 223,609 7 5 , 4 5 4 8 1 , 5 5 5 303,766 71,472 50,153 7^,665 49,393 1 4 2 , 2 o 3 1 , 9 3 6 , 7 2 0 Legal tender n o t e s , s i l v e r , e t c . 6,9^9 106,325 104 l j ^ 4]1 1 ^ 4 ojGG 5JL25 JO SMl_b21^i±^5 Total reserves 199,54? 635,995 139,l?3 2 2 5 , 0 3 3 75,915 5 3 / 4 9 2 312,532 76,597 50,223 75,534 50,237 1 4 2 , c c 4 2 , 0 7 0 , 7 b 5 B i l l s d i s c o u n t e d : (a) S e c u r e d by Government ^ ~ ^ \r ^ obligations 28,551 634,721 1 5 1 , 5 2 2 1 1 1 , 0 2 1 5 5 , 9 5 4 60,592 1 3 7 , 4 9 1 5 7 , 5 5 9 1 5 , 7 5 5 26,536 4 1 , 6 2 4 52,2^1 1,465,3^-0 A l l other 68,204 2 2 1 , 9 9 5 2 ? , 3 ? 4 6 4 , 6 2 2 3 5 , 5 ? 5 53,615 2 5 7 , 4 0 6 53,174 59,601 8 4 , 0 5 9 31,5oS 75,919 1,069,751 B i l l s b o u g h t i n open m a r k e t ( b ) 25.523 lbO.431 2 , 5 4 2 56.312 11.502 7.33 0 54,150 2,695 6^231 4bl 1^6£_j4,_p0 401^1 T o t a l b i l l s on h m d 1 5 5 , 6 6 5 1 , 0 1 7 , 2 0 ? 2 1 2 , 0 3 2 232,021 1 0 6 , 3 7 0 121,537 4 7 9 , 0 4 7 1 1 3 , 7 5 5 2 1 , 5 9 6 1 1 1 , 0 5 6 7 5 , 5 2 0 2 0 6 , 4 7 0 2 , 9 4 2 , 3 1 c U . S . Government b o n d s b6l 1,^57 1,3So 1,235 ^,^77 1,153 H5 u> °°7 3,9^6 2,632 25,797 U,s. Victory notes 5 50 10 3 ~ ^ ~ ^ ,,S 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 21.564 6 5 . 3 5 9 3 0 . 7 3 9 23.36 5 1 2 . 2 6 0 1 5 . 6 6 6 3 9 . 6 3 7 1 7 . 2 2 9 8,490 13,120 5,300 1 0 , 8 o l 260,649 207,792 1 , 0 2 4 , 1 0 3 244,163 256,233 119,865 1 3 7 , 3 2 0 523,161 132,1U0 90,207 133,073 87,780 2 1 9 , 9 5 3 3 , 2 3 5 , ^ 3 2 T o t a li e a r n i n g a s s e t s 1,202 3,268 500 1,156 640 564 2,116 866 530 522 774 231 12,369 Bank p r e m i s e s U n c o l l e c t e d items ;Jia o t h e r d e __ a u c t i o n s from g r o s s d e p o s i t s 54,483 143 , 251 56,611 63,697 50,26o 30,652 100,165 4 4 , 1 0 2 2l,3t>3 59,5^6 5 1 , 9 8 2 3 5 , 9 ^ 9 713,353 5io Redemption f u n d a g a i n s t 1,140 3,072 1,300 53 1 451 495 1,420 523 576 9 96 562 665 12,091 Bank n o t e s 375 550 466 "S20 320 171 2.206 3 50 112 285 210 352 6,05? All other resources TOTAL RESOURCES ( a ) I n c l u d e s b i l l s discounted for o t h s r F . R . B:\nks, v i z : (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*B^nks: With their — e n d o r s e- m e n t — Without t h e i r endorsement 464,842 1,274,172 442,213 547,270 242,051 252,700 941,660 254,584 22,126 - 54,996 10,075 ' 42,526 - 5,749 - - - - - - - - - 163,011 270,296 191,551 4 0 0 , 1 1 1 - - - ~ - , df}(L 6,050,4b? ^ . 149,b4g Mil ±d9 o 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 2, 1920; n o t e a r l i e r . S t . 1124c RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS APRIL JO, 1920. ( i n t h o u s a n d s of d o l l a r s ) L I A B I L I T I E S F e d e r a l R e s e r v e Bank of Boston New York P h i l a . C l c v e l . Richnu A t l a n t a Chicago S t > L o u i s Minn* ICans- Cy » D a l l a s San F r a n . T o t a l Capital paid-in 7.229 23,762 8,19S 9,91+7 4,778 3,685 12,754 4,169 3,243 4,214 3,622 6,038 91,639 Surplus 2,359 4-5.082 8,805 9,089 5,820 4^695 14,292 3,724 3,569 6,116 3,030 7,539 1 2 0 , 1 2 0 Government d e p o s i t s 1,665 1^,571 3,027 3,322 2,367 1,718 835 2,308 719 2,161 1,994 2,845 37,592 Due t o members - R e s e r v e a c c o u n t 113,926 7^8,555 103,559 1^0,830 57,934 53,845 268,862 64,499 49,746 82,828 61,296 113,914 1,859,844 Deferred a v a i l a b i l i t y items 43,563 97,748 43,605 53,339 38>220 26,734 70,421 33,l6o 15,HS 54,373 30,734 tivi4l Other deposits including foreign -.1)3 government c r e d i t s 5,54s 47,139 6,258 6,088 3,589 2,714 9,892 3,681 2,225 3,563 1,954 H-rSlg l o t ' i o V Total gross d e p o s i t s 164,702 908,013 203,639 102,160 85,011 350,010 - - 156,449 ^ , ~ 103,648 67,808 142,925 96,008 ,— 145,712 - v,.— 2,526,085 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 266,568 838,600 245,443 305,875 124,644 147,466 527,633 131.087 80,954 98,850 79,906 227,529 3,074,555 F . R . Bank n o t e s i n c i r c u l a t i o n 14,050 net l i a b i l i t y 38,122 18,910 14,186 8,463 9,524 27,380 9, 2,605 5,66c 15,535 7,489 8,897 177,881 All other l i a b i l i t i e s 3,940 4,408 4,534 2,186 2,259 9,591 2,351 1,777 2,656 1,4q6 4,396 20,593 60,187 TOTAL LIABILITIES 464,848 1,874,172 442,213 547,270 248,051 252,700 94l,66o 254,584 163,011 270,296 191,551 Uco.lll 6,050,467 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 paper rediscounted with o t h e r F . R. Banks Bankers' acceptances sold to other F . R . Banks C o n t i n g e n t l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n correspondents F . R, n o t e s o u t s t a n d i n g F . R . n o t e s h e l d by bank 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 20,709 24,850 38,471 35,636 11,111 15,871 3,00c 149,64s 5,749 5,749 16,188 275,059 8,491 266,562 16,188 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 943,954 256,831 320,470 130,503 152,646 566,73c 149,423 82,518 104,333 83,455 260,234 3,326,186 105,354 11,388 14,595 5,859 5,180 39,097 18,336 1,564 5,483 3,579 32,705 251,631 838,600 245,443 305,875 124,644 147,466 527,633 131,087 80,954 98,850 79,906 227,529 3,074,555 DISTRIBUTION OF BILLS AND U. S . CERTIFICATES OF INDEBTEDNESS BY MATURITIES ^ i t h i n 15 days B i l l s discounted B i l l s bought i n open m a r k e t U* 5 . 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 1,496,952 90,73S 5.537 16 t o 30 days 262,99g^1 82,262 1,500 31 t o 60 days 423,922 171,523 6,998 6l to % days 312,619/ i 6l,2&4 12,772 tver % 32,595 239,242 r/s Total I X. 2,5351071 407/047 266,649 S t . 1124d 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 2 , 1920; n o t , e a r l i e r . FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS APRIL 30, 1920. ( I n t h o u s a n d s of d o l l a r s ) Boston FEDERAL RESERVE NOTES: Received from 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 . II. Agent I s s u e d t o F . R. Bank l e s s amount r e t u r n e d t o F . R. Agent- f o r r e d e m p t i o n COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold a n d g o l d c e r t i f i c a t e s on hand Gold r e d e m p t i o n f u n d Pliila* C l c v e l . Tdchnw A t l a n t a Chicago S t . L o u i s Liinn. ICaiis. <>. D a l l a s San F r a n . 233,241 1,062,526 256.489 225,020 1 6 1 , 8 5 3 124,959 380,910 154,197 331,659 1,074,954 296,711 3 4 5 , 3 8 0 159,957 213,o4i 594,570 164,663 56,600 131,000 39,850 275,059 943,954 900 195,734 14,172 11,483 24,910 29,484 60,395 27,84o I5,24q 256,831 320,470 130,503 152,646 566,73c l4,6l4 32,025 15,758 2,914 2,500 4,021 - 10,171 145,423 7 0 , 7 3 7 109,177 89,343 6,525 110,563 94,260 265,124 6,530 5 2 , 5 1 5 104,333 2,590 13,052 2,375 1,135 63,520 171,796 3,044,425 1.7S6 10,77$—4,590 7,531 4,476 14,479 110,000 72,889 95,000 38,000 48,000 150,144 39,031 19,300 32,860 15,234 61,021 E l i g i b l e p a p e r , minimum r e q u i r e d 155,987 626,737 169,328 275,059 543,954 PAPEH DELIVERE1) 177 , 657 59,589 225,303 100,619 414,369 255,032 97,417 785,479 95,125 406,415 105,024 49,031 69,687—55,9^ 154,734 2,155,255 256,831 320,470 130,503 152,646 566,730 149,423 82,51s 104,333 185,668 1,014,607 176,719 3,740,555 53,455 260,234 3,326,186 104,0CC T?'F.01™1TLE Total 564,900 2,137,4-80 583,200 570,400 321,840 338,000 575,480 318,560 160,080 220,04c 157,780 436,520 6,784,980 Gold S e t t l e m e n t Fund - F , R. Board Total A, How Yen 115,533 4 7 9 , 0 3 6 53,485 113,683 64,254 111,05 6 75,520 260,234 3,326,186 185,647 2,553,705
@FedFRASER