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j , — * : .. I .> ' , 1 # t J STATEMENT FOR 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 30, 1920; n o t earlier, St.1184 F e d e r a l R e s e r v e Board May 29 > 19^0 CONDITION 0 ? FEDERAL RESERVE BANKS. An i n c r e a s e of 13*4 m i l l i o n s i n g o l d r e s e r v e s , l a r g e l y i n consequence of t h e a c q u i s i t i o n by t h e New York Bank of g o l d i m p o r t e d f r o m t h e F a r E a s t , i s i n d i c a t e d i n t h e F e d e r a l Reserve B o a r d ' s weekly s t a t e m e n t i s s u e d a s a t c l o s e of b u s i n e s s on May 28, 1 9 2 0 , Net d e p o s i t s , a s t h e r e s u l t of i n c r e a s e d b o r r o w i n g s by member b a n k s , show an i n c r e a s e of 10*1 m i l l i o n s , F e d e r a l Reserve note c i r c u l a t i o n increased 21.8 m i l l i o n s , while t o t a l cash reserves a t 42*7 p e r c e n t , 1 show a g a i n of 1 2 . 9 m i l l i o n s , The banks r e s e r v e r a t i o c o n t i n u e s u n c h a n g e d / H o l d i n g s of p a p e r , s e c u r e d by U* S. war o b l i g a t i o n s (war p a p e r ) i n c r e a s e d 1*2 m i l l i o n s > o t h e r d i s c o u n t s - 17*8 m i l l i o n s , and a c c e p t ances, p u r c h a s e d i n open market * 1*2 m i l l i o n s , Treasury c e r t i f i c a t e hold- i n g s i n c r e a s e d 2*8 m i l l i o n s , l a r g e l y a t t h e New York R e s e r v e Bank, w h i l e t o t a l e a r n i n g a s s e t s went up a b o u t 23 m i l l i o n s . Of t h e t o t a l war p a p e r h o l d i n g s of a b o u t 1 , 4 4 8 m i l l i o n s , 6 7 4 . 1 m i l l i o n s , or 46*6 p e r c e n t , were s e c u r e d by L i b e r t y bonds, 275*^ m i l l i o n s , cent, or 19 P e r by V i c t o r y n o t e s , and over 498 m i l l i o n s , or 34*4 p e r c e n t , by T r e a s u r y certificates, a s a g a i n s t 46*3* 19 an & 34*7 P e r m i l l i o n s of war p a p e r h e l d t h e week b e f o r e . cen ^ a total 1>4^6*7 T o t a l d i s c o u n t s h e l d by the Boston, New York a n d C l e v e l a n d Banks a r e i n c l u s i v e of 144*7 m i l l i o n s of p a p ^ r d i s c o u n t e d f o r 7 S o u t h e r n and Western b a n k s , a s a g a i n s t l 4 6 , l m i l l i o n s t h e week b e f o r e > w h i l e a c c e p t a n c e h o l d i n g s of t h e C l e v e l a n d and San F r a n c i s c o Barks comprise 5 , 9 m i l l i o n s of b i l l s p u r c h a s e d f r o m t h e S t . L o u i s and New York Banks, Government d e p o s i t s show an i n c r e a s e of 1 2 . 1 m i l l i o n s , member banks r e s e r v e d e p o s i t s - a n i n c r e a s e of 19*3 m i l l i o n s , w h i l e o t h e r d e p o s i t s , i n ^ l u d i n g f o r e i g n government c r e d i t s and non-member banks * c l e a r i n g a c c o u n t o d i n e d 4.4 millions, The " f l o a t " c a r r i e d by t h e R e s e r v e Banks and t r e a t e d a s 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 t s shows a n i n c r e a s e of a b o u t 17 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 c a l c u l a t e d t o t a l of n e t d e p o s i t s shows a n i n c r e a s e of 10* 1 m i l l i o n s . P a i d - i n c a p i t a l of the R e s e r v e Banks h a s r e a c h e d a t o t a l of 94 m i l l i o n ^ , an i n c r e a s e f o r t h e week of $2l4,CC0, S u b s t a n t i a l a d d i t i o n s to p a i d - i n capi- t a l a r e r e p o r t e d by t h e New York, P h i l a d e l p h i a and S t , L o u i s Banks, l a r g e l y a s t h e r e s u l t of i n c r e a s e s i n c a p i t a l i z a t i o n e f f e c t e d by member banks i n t h e respective d i s t r i c t s . - R e l e a s e d f o r p u b l i c a t i o n Sunday morning, May 30, 1920; n o t e a r l i e r _ STATE/TIT OF COMBINED RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS- a i s r Legal t e n a e r n o t e , , • " t S " ^ F E ' - s f f l s « silver, etc. JJ. S . Gcwerriaent bonds 2,938,071,000 26 , 7 l - .000 " p E i r E ; ^ " - i f g A U °1 ™ — E — S d " s S f t L I ^ E f E E ^ " " # S w ; | " t c r e d l t s ^ R a t i o of t o t a l r e s e r v e s t o n e t d e p o s i t and F . R. n o t e l i a b i l i t i e s combined R a t i o of g o l d r e s e r v e s t o F . R . n o t e s i n c i r c u l a t i o n a f t e r s e t t i n g a s i d e 35^> a g a i n s t n e t d e p o s i t l i a b i l i t i e s 4 E : l b2.~$ 4J . 1 ^ i 1 2 i i E 6.062.161,000 « « . » " i d - U S 63,000 4 S S . g^/oco E ^ o t o o o « , , » : H E E E E : : : : ; : r ° ~ g f. - xiSUa, » : S : M , g ^ '° , I • 7° H E 5,331,785,000 ™ , - | l l # 1 R1 /0 a i° 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 30, 1920; n o t e a r l i e r . • g """ " St.1184b RESOURCES Aim LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAY 28, 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 ) r & H m . C S 3 4 S I F • 3ilver etc ' - " s H t E F - ' " ? . ; , r s ; , ' r c / — •" W , 'c. S . Govornmant bonds ?'T!^e:!1rS2tL:Llndel>teto6SS Bank premises U n c o l l e c t e d i t e m s and o t h e r deductions from gross deposits H * i : r " " " TOTAL RESOURCES s i i I ! I I ^ %5i a B a s a s a y i t | | i f l &£ | | 1,457 S3 1,235 2£26,69o 1,08:7# jiS'Jg 25o:^ i i : l » 1,27 8 57,656 - a 3,285 171,630 500 59,6s6 1,155 75,153 713 54,304 - B 482,855 | | s a 1,916,972 451,150 555,726 247,890 s i i t M - s s w s ? »,% a.K » . a 1,386 i f 3 ^ m 560 1 -(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 ^ o t h e r F . R. Banks, v i z : *(b) Includes bankers' acceptances v bought f r o m o t h e r F . R. Banks: With t h e i r endorsement Without t h e i r endorsement f i ~ ^ m 575 28,876 a 4,477 1,153 i M 2,116 866 99,185 44,385 - s s 248,379 939,556 - 3 | » g R S S t S U3 i 7 1 | «S.t£ 5«8 22,311 f | | | l 4 1 4 E ».]*> * 5 »:« ,a*. < a _U5 m 8,867 I S ,# 3,966 619 782 58,275 ,. ,, 44,066 a g 254,303 163,720 269,614 a 20,366 84,125 I I a g 1:«:| 2,632 26,794 223,g 3,l%g 231 Cl--, 31,003 a • 40,1# • - - - 3,568 - - - ~ - - - ~ ~ ~ M|°I 4 E S 183,111 4oi,o64 . l p~vi ' 12,6bS inn 7 7,9 y s 6, J.14,34O -jhh /Zeh , ,-^g 2*371 ' St.1184c j;Released f o r p u b l i c a t i o n Sunday m o r n i n g , May 30, 1920; n o t e a r l i e r . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MAY 2 3 , 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 Kans.Cy. Dallas 5 Boston New York P h i l a . C l e v e l . Richm. A t l a n t a Chicago StqLo F e d e r a l R e s e r v e Bank of % W ' 9 4S, o0t0a 0l m i Capital paid-in 7,532 24,666 8,313 10,044 4,789 3,730 Surplus 45,082 8,805 9,089 5,820 4,695 l4,292 3,724 3,569 6,116 3,030 120,120 8,359 Govemxent d e p o s i t s 2 ..2 5.4 799 2,187 3 6 ; 433 1,099 l , ' p 7 19,359 252 1,543 1,882 2,542 1 , 3 4 8 1,221 Due to members - R e s e r v e a c c o u n t 259,943 61,746 50,647 83,O4i 55,588 113,339 1,852,916 119,811 760,577 100,955 139,535 55,586 52,I4S 1 Def 3-.-red av3 i 1 a b i 11 t y i terns 46,497 107,551 53,5^5 59,325 44,293 24,876 66,695 38,784 15,536 54,612 ,26,655 Other deyotiius, i n c l u d i n g f o r e i g n W government c r e d i t s 5.J7J 3,382 2.597 9,109 3.510 2,066 3,421 1,905 3 M 7 2 9 5,247 42,129 6,067 337,095 105,261 69,0118 143,261 8 5 , 2 4 7 143,992 2,54l7630 Total gross d e p o s i t s 173,809 929,616 160,319 205,176 105,143 82,163 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 273,944 854,227 249,091 310,964 120,752 145,080 535,230 129,084 79,183 97,572 82,008 229,286 3,107,021 F . R. Bank n o t e s i n c i r c u l a t i o n net l i a b i l i t y l4,468 37,969 18,970 14,025 8,794 9,879 28,375 9,157 6,455 15,088 7,313 8,692 1 7 9 , 1 8 5 All other l i a b i l i t i e s 1,856 5,188 2.851 2.214 3.272 4,743 24,812 5.152 5.428 2,592 2 , 8 3 2 11.444 72,384 5 ^r TOTAL LIABILITIES 482,855 1,916,972 451,150 555,726 247,890 248,379 939,556 254,303 163,720 269,614 183,111 4oi,o64 6,n4,34o 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 Bankers1 acceptances sold to o t h e r 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 T.r R» n o t e s o u t s t a n d i n g F , Rw 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 B i l \ s di scounted B i l l s bought i n open m a r k e t U. J . 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 25,000 144,684 8,500 18,995 46,192 19,132 13,865 13,000 J) # 5 t)S — * 3,568 16,213 — ^6,213 281,140 273,9% FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 963,366 257,911 323,186 124,700 1^,413 579,961 146,447 81,115 102,736 86,048 263,470 3,359,493 108.539 8,820 12,222 3.948 4,313 44.711 17.363 1 9^2 5.164 4,o4o 34,124 252,472 854,827 249,091 310,9o5 120,752 145,060 535,230 129,084 79,183 97,572 82,008 2^,286 3,107,021 DISTRIBUTION OF BILLS AND U. S.'CERTIFICATES OF INDEBTEDNESS BY MATURITIES W i t h i n 15 days 16 t o 30 days 31 t o 60 days 6 l t o 90 days Over 90 days 1,460,744 117,630 18,098 259,574 72,806 3,962 473,116 182,153 13,385 264,006 46,011 13,106 61,991 230,980 Total 2,519,431 4ig,6oo 279,531 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 30, 1920; n o t e a r l i e r . St.llSUd. FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS MY 28, 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 hands o f . F -. R. Agent w I s s u e d to 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 New York Phila. Clevel. 573.900 2,167,64o 583,200 587,800 243,860 1,077,274 293.609 234,934 330,o4o 48,900 281,140 Richm. A t l a n t a 168,306 132,047 32,594 63,o4o 963.366 257,911 323,186 124,700 149,413 633,121 160,287 53,160 11,725 579,961 146,447 81,115 102,736 s6,04s 263,470 431,334 3,359,493 3.330 4,838 16,822 106,675 38,631 18,600 30,860 11,234 61,154 747,013 410,135 101,864 48,281 68,546 59,645 185,494 2,247,453 579,961 146,447 81,115 102,736 86,048 263,470 3,359,493 482,837 H 3 , 5 4 o 67,154 113,253 19,873 1,460 3,434 8,681 s e t t l e m e n t fund - F-R,Board 102,000 73,000 74,889 95,000 35,500 45,000 l6l,l45 — E l i g i b l e p a p e r , minimum r e q u i r e d 162,687 677,767 1 7 0 , 5 2 7 176,288 87,740 98,479 281.140 963,366 257,911 323,186 124,700 149,413 204,576 9 8 1 , 7 9 4 184,213 223,725 105,945 122,202 10,5753.950 1,182 12,495 2,500 5,190 2,142 16,865 AMOUNT OF ELIGIBLE PAPER DELIVERED TO F . R- AGENT ^ - 107,926 96,623 267,420 3,790,827 13,052 15.553 TOTAL Total 3,810 195.734 Gold 32,025 92,84o 13,840 900 Gold r e d e m p t i o n f u n d - San F r a n - 394,399 163,433 73,740 113,634 67,157 179,320 3,141,713 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold and g o l d c e r t i f i c a t e s on hand Minn. ICans.Cy. D a l l a s 325,600 344,500 1,027,520 323,720 166,580 221,560 163,780 446,740 6,932,540 1,090,366 289,591 352,866 157,294 212,453 127,000 31,680 29,680 Chicago S t . L o u i s - - 10,331 75,046 - 190,819 258,352 2,865,104
@FedFRASER