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ST.AT»lElfr FOR THE PRESS St.l()54 Released for publieation Friday rnorning, Mq 9; not earlier. Federal Reserve :Board, May 8, 1924. OONDITION OF FEDmAL RESERVE BANKS The r.onsolidated statement of ~ondition of the Federal Reserve 'Banks on May t made public by the Federal Reserve l!oaa-d shows a. net red'lr.tioncf $)4,900,000 ln i earning assets, decreases of $37.200,000 in holdings of a.eeeptanees purehased in open market and of $6,900,000 in discounted bUls being partl7 offset by a.n increase of $9,200,000 in Governrnent seeurities. Federal reserve note cireulaUon inr.rea.sed by $1,000,000 and r.ash reserves by $9,500,000, Yhile deposit li.a'bil' ties declined bf $11 '000, 000. The New York reserve bank reports a.n inr.rease of $19,100,000 in holdings of dis<-.omted bills, Cbieago an irr.rease of $9,ltoo,ooo, and Minneepol:Ls an increase of $900,000. The reliiSining banks report smaller hold~ngs of discounted bills than the week before, the largest reductions being as follows: San Francisco $lO,l()O,OOO, Atlanta $6,JOO,OOO, Boston $5,6o0,000, St~ Louis $4,SOO,OCO, and Philadelphia. . $4,300,000. Paper ser.ur.ed by U. s. Goverm.l8nt obligations ~nr.reased by $6,400,000 and on May 1 aggregated $167 ,6oo.ooo. Of this aJIJOunt $99,4oO,OOO was se~ured ) f Liberty and other U. s. bonds, $57,900,000 by Treasury notes, and $10,200,000 ~~ certificates of indebtedness. All Federal reserve banks report smaller holdings of ae~eptances purcha.se4 in open market, e.xr.apt Atlanta WC'.h shows an increase of $200,000. 1'he New York reaene bank reports a reduction of $16,6oo,ooo in its holdings of acceptan~es. Government security holdings increased by $9,200,000 duri.ng the week, an' inr.reaee of $10,300,000 . in Treasury notes being partly offset by an aggregate redUction of $1,100,000 in holdings of bonds and Treasury dertifiea.tes. An increase of $6,700,000 in Federal reserve note circulation ls shown by the Federal Reserve Bank of Dallas, of $5,800,000 by Minne<¥'lolis, and of $4,700,000 by San Francisco. The Chicago bank shows a decline of $5,6oo,OOO in its federal reserve rote circulation. and Philadelphia a decline of $4.soo,ooo, Y.h1le the tysteu1 as a Yhole shows a net increase of $1,000,.000. Gold reserves increased b)' $9,200 1 000 during the week. The San Francisco bank shows a net in~rease of $19,6o0,000 in golcl reserves, Atlanta a net increase of $10,4oo,OOO, and St.. Louis of $8,100,000, vmile New York reports a decrease of $43,500,000 and Qacago a decrease of $141 500,000. Reserves other than gold increased. by $)00,000 during the week ancl Non-reserve cash br $1 ,4oo,ooo. A Sllll'JIDa.ry of changes 1n the principal assets and liabilities of the rese"e banks during the week and the year ending May 7, 1924, follows: ln"rease or de~rea.e Year Week Total reserves • • • • • Gold reserves • ~ • • • . . .. .. .. .. .. .. .. .. ' ~otal earning assets •• ~ • • • . Ilills disc.ounteo, total • • • • • • • • • • Secured by u. s. Governwsnt obligations • Other b1lls discounted • • • • • • • , • • Bills bought in open market . . ....... . .. • • • • • • • . . .. • . • U. s. Government aeeufities, total •• Bonds • • • • • • • • • • • ~ • • • Treasury notes • • • • • • :. • Cer,ificates of inde'bteduess .. • Federal Reserve notes in r.irculation •• Total deposits • • • • • • • Members• reserve deposits Government deposits ••• Other deposits • • • • • • . • .. .. .. . . .. .. .. ... ... • • • • • • • • • • • • dWi-JlS + $9.500.000 . + 9,200,000 + $50,700,000 + l.aO .soo ,ooo • 34,9;)0,QOO - 6,900,000 .. 309,4oo,ooo • 254,800 .coo ... 191,100,000 + 6,lfoo,ooo - 13,)00,000 - • .. 179.700~000 37,200,000 + 9,200,000 ... 900,000 + 10,3()0,000 200,000 63,700,000 + 125,100,000 11,200,000 + il2,7C'lO,CCC --r + 23,600~000 + 1,000,000 ... 314,soo,ooo ... 11,000,000 + 56,700,oCO + 6~,100,000 + s,6oo,ooo - 14,100,000 5,500,000 • 4,200,000 6,200,000 St. 4054a. Relea&ed f'Or public at ion Friday morning, Ma.v 9, 1924. RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) May 7. 1924 R·.E S 0 U R C E S Apr. 30. 192~ Ma.v 9. 1923 (a)610,622 370,701 2,005,066 -~4.5_'-'2,059 ,501 706,261 32),062 3, 120,389 102,220 3,088,824 92,557 3,232,1.0S 51,243 3, 222,609 49,811 3, 181,381 167,556 272,729 161,164 286,021 353,637 336.380 4l.io I 28'5 87,287 447,185 124,485 695,017 266,992 18,353 232,091 6o,438 19,269 221,771 _ _6o_,620 29,573 *119 ,387 36,854 310,882 301,660 185,814 51 51 4o . . . • 838,505 873.381 1,147,863 Redemption fund - F. R. Bank notes • Uncollected items . . . Bank premises • • • . . All other resources • . • • • . 28 28 566,511 56,540 23 130 586,350 56,494 22,530 6o0,834 50,155 13,811 4,766,665 4,811, 203 5,o61,961 1,927,027 333 1,926,013 343 2,241,780 2,o65 ,953 '532 18,381 22,439 1,944, 952 32,503 27,926 l,cb6,455 1.994,352 2,005, 381 1,937,670 500,211 111,231 220,915 14.591 533,466 110,927 220,915 14,158 536,222 109, 02'9 4, 768,665 4,811, 203 5,061,961 20, 5:>5 33,615 Gold with Federal reserve agents . • • • Gold rede~tion 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 Total ~old reserves . • • Reserves other than gold " . . . . . .. Total reserves Non-reserve cash . • • • Bills discounted: Sec. by U. S. Government obligations . Other bills discounted . 2,110,776 39.755 2,150, 531 601,766 377,309 3,129,606 102,502 (a)2, 139,0b6 Total bills dis counted • • Bills bought in open market U. S. Government securities: Bonds . . . • • . . . . • Treasury notes . . . . Certificates of indebtedness Total U. S. Government securities All other earning assets Total earning assets 5'% TOTAL RESOURCES • • . . F. R. notes in actual circulation • • F. R. Bank notes in circulation- net Deposits: · Member bank - reserve account . . . Government . . . . Other deposits • • • Total deposits • . Deferred availability Capital paid in • . • Surplus . • • . . All other liabilities items . . . . . . . TOTAL LIABILITIES 2,083,317 (a}50, 74'2_ I l Ratio of total reserves to deposit and F. R. note liabilities comoined • . . 82.4~ Contingent liability on bills purchased for foreign correspondents • . . . . 21,388 * Inc1ud ing Victory notes. (a) Revised figures .. c. - 67,726 191 j 1 I 22,616 28,599 21813613 16,826 I l 1 l Released fer publicaticn Frid~ morning, ~ 9, 1924; net aarlier. St. 4o54o. RESOURCES AND LIABILITIES OF TEE FEDERAL RESERVE BANKS AS AT CLOSE OF BUSINESS, TJ!AY RESOURCES 7, 1924. (In thousands of dollars) Jlederal 'Reserve Bank of Boston New. York Phila. Cleve. Rich. Atlanta Chicago St, Louis Minn. Kans. Cy. Dallas San Fran. Total ~ld with Federal Reserve Agents 204,302 635,580 192,971 202,767 39.4o4 115,264 300,153 63,940 61,460 53,875 41,437 199,623 2,110,776 Gold redempticn fund with. U.S. Treas • 7,062 5,6o4 2, }58 1,802 2,192 3,324 4, 720 2, 784 1,939 2,415 1,938 3. 617 39,755 h}d held exclusivel;y: ggainst F. R. notes Gold settlement fund with F. R.Board Geld and gold certif. held by banks T2ta1·.gold reserves Reserves other than gold 'l'eta1 reserves Bm-resene cash Bills discounted: Sec. by U. s. Govt. obligations Other bills discounted 'rota). bills discounted Bills bought in open market U. S. GO'ternm:mt securities: Bonds Treasury notes Certificates of indebtedness Total U, S. Govt. securities 211,364 57 J 734 18,452 287,550 11,551 299.101 3,s~n 8,803 71889 16,692 7,657 542 19,117 4,969 24,628 641,184 195' 329 157,993 35,715 176,226 37' 767 975,403 268,811 24,072 2,639 204,569 41,596 118,588 304,873 66,724 63,399 56,290 43,375 gg' 135 31,757 16,712 84,531 22,181 11,078 33,248 6,o68 12,528 6,152 7,228 62,048 7,652 9.629 3, 732 6,570 305,232 79.505 142,528 451,452 96,557 84,106 93,270 56,01} 6,184 4~596 10,433 11,598 15,091 1,259 4,428 6,441 999,4 75 271,450 311,416 84,101 152,961 463,050 111,648 85.365 97' fl:;8 12,889 1,684 3,286 2,856 4,94o 7,580 4,278 789 3,023 20},240 2,150,531 56,614 601,766 29.325 377,3CIJ 289.-119 3,129,606 4,210 102,502 62,454 293,389- 3,23g,10S 2,895 3,180 5;1.,243 51,738 ro, 658 23,734 15,427 4,405 23,46o 6,680 1,202 2,566 1,285 7,598 12,202 1lt022 19,658 42 090 33,111 41,746 19,427 1},367 22,408 11,527 35,249 66,943 31,710 43,392 s-, ,517 37,516 65,206 26,107 14,569 24,974 12,812 42.347 10,527 4,811 12,376 1,025 7,299 17.032 3,836 3.399 4,104 5,303 9~918 1 1,202 549 917 51,799 24,675 27,726 16.010 21200 1r111 69,011 27,424 36,354 51 1,191 2,962 972 5,125 4,426 33,026 2l~ 103 47,081 103 4S3 1, 780 7,155 5 26,641 16,751 14,589 ~,669 , 125 4,313 3.285 5,394 6,966 20,949 19.385 21,816 32,04o 5,136 1,830 167 ,·556 272, 7~ 440.285 87,2157 18.353 232,091 60,438 -- 310,882 51 All other earning assets Total earning assets 48,977 146,481 63.996 92,122 63,667 44,918 129.319 36,909 38,917 48,463 39,931 84,805 8381505 28 28 5~ Redemption fund - F.R.Bank notes 34,135 11,676 33,512 27,374 35,064- 566,511 49,170 121,593 50,876 53,004 50,935 25,873 73.299 Uncollected items 14,696 1,113 9,117 2,528 2, 718 8,264 1,821 2,631 4,595 1,912 2,833 4,312 56,54o Bank premises 1, 708 430 5,214 324 320 139 5,592 l,04o 4,455 4,110 319 23,730 19 All other resources 405,480 1,300,348 389,443 469,265 204,408 233,118 681,942 188,930 144,970 188,331 139,049 423,381 4,768,665 TOTAL RESOURCES c. for publication Frid~ moming 1 Mey 9, 1924; not earlier. St. 4054c. RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, MAY 7, 1921+. LIABILITIES (In thousands of dollars) ·Federal Reserve Bank of Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mirm. Kans.Cy. Dallas San Fran. Total , I'.L notes in actual circulation 204,427 ~.757 192.755 219.42} 76,959 11+0,293 284,852 65,4oo 71,263 63,6o4 50,357 207,937 1,927,027 . 338 338 l'.tt. Bank notes in circulation - net _Deposita: 126,872 743.~ 119,041 163,952 6o.605 57.472 286,4o3 74,6o2 47,447 75,211 ~.764 1~,114 1,953,532 Member bank - reserve account 2,226 1,587 1,560 841 5o4 1,295 1,698 1,641 1,694 1,155 850 2,730 18,381 ·Government 162 13,218 268 1,154 86 121 1,170 ~1 l4o8 393 159 4,859 22,439 Other deposits Tot§Ll deposits Defe:rTed availability items Capital paid :fn . Surplus _ ·_All other liabilities TOTAL LIABILITIES ·• Ba\io of total reserves to deposit ed F. R. note 1 iabil it ies ccmbined, per cent · Catt ingent liability en bills purchased for foreign correspondents •• R. notes outstanding 7. R. notes held by banks 1. It. notes in actual circtilation •111s discounted :::.Bills bought in open market .· U~ s. Certificates of indebtedness ~icipa1 warrants 128,594 758,~3 47,682 100,153 29.909 7,975 16,390 59,929 412 2,107 405,4801,300.348 120,896 45,058 10,156 19,927 651 389,41+3 89.8 165,947 61,195 58,888 289,271 76,684 ~.549 77.359 50,773 46,410 47.681 18,867 6o,667 30,892 11,989 32,710 24,183 12,512 5,f42 . 4,567 15,163 5,071 3,427 4,•Ja ¥,176 23,691 11,672 8.950 30,426 10,072 7,484 9,496 7,577 1,~ 1,059 1,553 1,563 811 1,258 730 1,645 469,265 204,408 233.118 681,942168,930 141+,970 188.331 139,049 61.8 78.6 80.8 156,703 1,994,352 33,919 500,211 8,001 111,231 15,301 220,915 1,520 14,591 1+23.~1 4,768,665 S18 1,635 21,388 990 2,087 2,517 1, 226 947 3, 206 1,~ 775 FEDERAL RESERVE NOT!SOUTSTANDING AND IN ACTUAL CIRCULATION 225,539 654,369 222,179 243,545 88,522 151,887 311+,460 78,499 77,491 75,699 57.386 250,728 2,440,3o6 21,112 304,612 29,424 24,122 11,563 11,594 29,608 13,099 6,228 12,095~7.031 42,791 513,279 204,427 349,757 192,755 219,423 76,959 140,293 284,852 65,400 71,263 6},604 50,357 207,937 1,927,027 DISTRIBUTION OF BILLS, U. S. CERTIFICATES OF INDEBTEDNESS AND MJNICIPAL WARRANTS BY MATURITIES Within 15 da;ys 16 to 30 days 31 to 60 days . 61 to 90 days From 91 davs Over 6 months Total to 6 months 45,882 72,862 ~.369 32,284 2~.328 4,56o 4lfo ,235 24,895 19~685 5,098 300 87,287 37.309 12.059 -· 94j 6o,4}8 51 51 6,133 ---- ~-~ - ---'----~ ~- . - - ·-:.·-..-:.........:...., ----~- ~---· ---'-~-~ Released for publicati<n FridaJ morning, May 9, 1924; not earlier. St. J.ro54d. FEDERAL RESERVE AGJNTS' ACCOUNTS AT CLOSE OF BUSINESS, MAY 7, 1924. (In thousands of dollars) Fede_:ral Reserve Agent at RESOURCES I'~ erai Reserve notes on hand l'ederal Reserve notes outstanding Collateral security for Federal Reserve notes outstand.ing: Gold and gold certificates Gold red emp t i en fund Gold fund - F. R. Board Eligible paper Amount required Excess amodnt held Boston New York Phila. Cleve. Rich. Atlanta Chicago St.L0\11& Minn. Kans.Cy. Dallas San Fran. Total ,1 ~ 108,050 225,539 255,o60 46,720 40,935 37,820 75,157 197,140 26,500 19,24o 28,993 17,477 78,~ 931,352 654,369 222,179 243,545 88,522151,887314,46o 78,1499 77.491 75,699 57.388 250.728 2,44o,306 35,300 16,002 153,000 2)8,531 14,000 8, 780 2,4oo 9,985 13,052 1},816 335,864 31,049 15,082 11,987 2,109 6.864 6,509 3,455 1,4o8 3,515 1.1.,121 12,296 114,397 366,000 163,889 182,000 37,295 106,000 293,644 50,500 47,000 50,36o 2},500 187,327 1,66o,515 21,2}7 3,112 18,789 29,208 4o, 178 49,118 36,623 14,}07 14,559 16,031 21.821.1. 15,951 51,105 ll 49,620 },207 14,440 7,953 7,}62 67,494 1},46; 1,432 6, 798 1,805 329,530 176,699 562,240 1,613,418 494,285 542,465 222,817 386,293 693,5~196,963 175,654 187,189 1}4,058 579.7 7 5,988,6~3 L I AB I L I T I E S '7 Net amount of Federal Reserve notes received from Comptroller of the Currency 333,589 909,429 268,899 284.480 126,;42 227,044 511,600 }.o4,999 96,731104,692 74,865 323T9S8 .3,371,658 Collateral received from Jedera1 reserve barik: Gold E1 igi ble paper 635,580 192,971202,767 )9,404 115,264 }00,153 63,940 61,46o 53,875 41,437 199.623 2,110,776 68,409 32,415 55,218 57,071 4),985 81,801 28,024 17,463 28,622 17,756 51,116 5o6,229 TOTAL 2o4,302 24,349 Cf6v / 562,240 1,613,418 494.285 542.465 222,817 386,293 893,554 196,963 175,654 187,189 134,058 579,77 5,988,6i 3 c. ~---------- - - - · - - - >
@FedFRASER