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STATEMENT FOR THE PRESS Released, for publication Friday morning, Oct-. l4; not earlier. S t . 2333. Federal Reserve Board October 1 3 , 1321* CONDITION OF FEDERAL RESERVE BAMS 7/ednesday, October 12 being observed as a legal holiday by most re serve banks and branches, the weekly bank statement was issued as of the day before, October 11. The statement indicates aggregate increases of $i3,o00,000 in the reserve banks' holdings of discounted and purchased $2S, o00,000 in deposit liabilities, as against reductions of $ b ,000,000 each in cash reserves and in Federal reserve note circulation. As a consequence, the reserve ratio shows a decline for the week from 69.0 to 68.5 Per cent. Federal reserve bank Holdings of bills secured by United States Government obligations show an increase for the week of $6,900,000, while 0--^irad^ r n ° ^ tS. 0n hand declined ^ $ 2 , 700, 000. A relatively large increase 01 ,000 is snown in the holdings of acceptances purchased in open market. U. S- bonds and notes on hand declined by $1,700,000, holdings of Pittman certificates used as cover for Federal reserve bank note circulation snow a further reduction for the week of $4,500,000, while other Treasury certificates, held largely under repurchase agreements by the New York re serve bank, increased by about $800,000. Total earning assets, as the result of the changes shown, were $ 1 2 , 100,000 larger than the week before. Of tne total holdings of $502,800,000 of bills secured by United States Government obligations, $3*41,000,000, or 67 . S per cent, were secured by Liberty and other United States bonds, $120,800,000, or 24.0 per cent ^pnVfinn°npnn° teS)’, f 20' 1100 >000 > or ^ Per cent, - by Treasury notes, and’ ff?’ °f 4.1_per cent - by Treasury certificates, compared with $342,3v;o,000, $ 125 , 500, 000, $ 7 , 500,000 and $22 , 600,000 reported the week before. A further decrease from $48,800,000 to $44,000,000 is shown in the amount of paper held under rediscount for other reserve banks by the Federal reserve banks of Boston, Nev. York and Cleveland. Rediscounts of the Ricnmond bank with the New York reserve bank show an increase for the week from $19,500,000 to $20,000,000, Atlanta reports a reduction in bills Boston and C leveland banks from $17,200,000 to $15,400,000, w h ile D allas reports a reduction of i t s red iscou n ts w ith the Boston reserve bank from $12,100,000 to $7,600,000. Government deposits are shown $4,700,000 smaller than the week before. Reserve deposits show an increase for the week of $33,000,000 while other* deposits, composed, largely of non-members' clearing accounts and cashier's checks, snow an increase of about $300, 000. n nennna\ f eserve n° te circulation shows a decline for the week of about i M ' 00; ,tn? October 11 total of $2,476,300,000 being about 26 per cent below the total reported about a year ago. in addition the banks show a decrease of $1 700,000 m their net liabilities on Federal reserve bank notes in circulation, the October 11 total of $97,900,000 being 54 per cent below tne corresponding figure of October 15 of last year, j* For the first time during the present year the weekly statement indi cates a slignt_decrease in gold reserves.of the system. The total loss in cash reserves is made up of a loss of $3 , 700,000 in gold and of $2 300 000 in silver and legal s. Total October 11 gold reserves - $2,728 900*000*ik?Wqno°onn sinc® Jamal^ 1 of $ 666, 100 , 000, compared with a loss of $42,900,000 m other cash reserves, i. e . , silver and legals. * S t. 2333a* Released, fo r publication Friday morning, October 14, 1921; not ea rlier- RESOURCES AND LIABILITIES Or THE TYtELVE EEIERAL RESERVE UAL3CS COHBIHED. (In thousands of dollars) R E S O U R C E S Gold and gold certificates . . . . . Sold settlement fund - F.R. Board Gold with foreign agencies . . . . Oct. 11, 1921 44b,9©2 426,993 373,980 Total sold held by hanks . . . . Gold with Federal Reserve Agents . Gold redemption fund ...................... Total gold reserves .................. . 1,732,113 122, 8^9 2,728,922 148,011 ...................... 2,376,933 Legal tender notes, silver, etc. Total reserves Bills discounted: Sec. by U.S. Government obligations. All o t h e r ............................. ... Bills bought in open m a r k e t ............... 502,793839 >615 6 l ,393 Total bills on h t o d ......................... 1,463,799 U. S* bonds and n o t e s ......................... 33,656 U. S. Certificates of indebtedness: One-year certificates (Pittman Act). lo2,875 All o t h e r ............................................ 1 9 .862 Total earning assets . . . . . . 1 , 630,192 Bank premises ........................................ 5/o Redemption fund against F. R. Bank notes . ............................. Uncollected items . . . . . . . . . . All other r e s o u r c e s .............. ... Oct. 5. 1921 443,472 Oct. 15, 1920 192,499 415,175 381,753 363,647 1,756,532 112,370 661,273 1,169,03s 161,iso 1,992,101 162,310 2 ,732,599 150,343 2 , 532,942 2 ,154,911 495,366 902,255 42,070 1 ,192,310 1 ,531,060 319^20 1,440,191 3 >053.390 26,925 35,433 259,375 42,236 167,375 19,05.4 1,662,053 3 .421,976 30,052 29,501 15,766 8,777 3,342 553,105 15,906 12,153 997,373 s,o66 567*681 1 6 , 69? TOTAL RESOURCES ..............................5,130,332 5.157,349 6,610,250 L I A B I L I T I E S 103,070 213,324 52,514 103,046 213,324 51,741 5^,270 1,646,099 24,49 6 1 , 613,149 . .......................... 1,724,365 1,696,332 1 ,915,731 F.R. notes in actual circulation . . . F.R. Bank notes in circulation net liability .................................... Deferred availability items . . . . . All other liabilities ......................... 2,476,311 2,432,313 3 .353.271 97,933 439,403 22,4l2 99,602 433,741 21,750 213,533 776,337 33,439 TOTAL L IA B ILIT IE S .................. 5,130,332 5 ,157,349 6,610,250 Capital paid i n ............................. S u r p l u s ................................................... Reserved for Govrt. franchise tax . . Deposits: Government ............................................ Member bank - reserve account . . . All o t n e r .................. ......................... Total deposits Ratio of total reserves to deposit and F.R. note liabilities combined . . . Ratio of gold reserves to F.R. notes in circulation after setting aside 35$ against deposit liabilities . . <0 'oZ,% 91*3$ 59,004 . . ...... 2.4*112 97,594 164,745 - 13.975 1 , 808,016 .......... 13-J40 69.05S *42. 7$ 92 *2$ *46.6$ ♦Calculated on basis of net deposits and F. R. notes in circulation. Released for publication Friday morning, October l4, 1921; not earlier. St.-533°• RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCT. 11, 1S21. (in thousands of dollars} Federal Reserve Bank of Gold and gold certificates Gold settlement fund - F.R. Board Total gold held by banks Boston 8,324 48,004 Gold With F. R. Agents Gold redemption fund Total gold reserves Legal tender notes, silver,etc. 181,623 Total reserves Bills discounted: (a) Secured by U .S. Govt, obligations All other Bills bought in oven market 56,328 21,705 259,654 16,505 New York 355,275 Hi, 855 397,730 RESOURCES Phila. Cleve. 1,894 12,385 65,671 42,863 67,565 55,248 545,684 149,144 178,524 30,193 48,487 302,550 62,591 1.8,390 34,150 W o ? ’ *Uq 15)000 U,U67 ^ 9 1 0 11,405 ^>715 57 >595 3 »6UU 2,272--- H, f,5.x—.— ? f1I-- — 2—.. 958,4l4 221,176 238,682 65,388 65,865 448,617 93,1°4 42,575 71,320 27,464 236,663 2,728,922 ,592--1 8j Oi l— 56,339 6,395 5,770 5,379 7.861 20,031 14,520_______ 372--4 »_695-- 6 >552-- 3 .> 276,159 1,014,753 227,571 244,452 24,379 47,789 S. <T7S 139,337 171,299 33.332 27,156 T otal b i l l s on hand 77,746 U. S* bonds and n o te s 567 U* S. C e r tific a te s o f in deb ted n ess: O ne-year c e r t if ic a t e s (Pittm an A ct) 14,936 A ll o th er 536 T o tal earning a s s e ts 93,785 Bank prem ises 4,295 5fo Redemption fund a g a in st 422 F* R. Bank n o te s U n co llected item s 49,649 446 A ll'o th e r resou rces 424,756 TOTAL RESOURCES (a) In clu d es b i l l s d iscou n ted fo r 16,894 o th er F. R. Banks, v iz ; 343,96s 97,811 137,220 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy* Dallas San Eran. 2,892 U,955 22,050 3,193 8,880 2,303 6,250 x7,9ol 44b,9o2 20,900 7,708 86,424 23,676 13.033 30, H I , ------------- 42° >2<S— 23,792 12,663 108,474 26,869 21,913 32,4l4 11,824 59,l4o 873,960 68,264 2.391 41,500 93,511 2.209 70,767 . , 25,529 73,726 468,648 107,624 _ , 33,345 ,_ .„ 64,748 62,827 146,275 5,463 3,709 69,364 3 .686 98,579 101,640 214,732 42,947 76,015 CA_ -.m 10,305 9 * ^ 3 4 2 ,l g 502,791 4 i j 6 6 58,404 53,889 ^0,903 70 ,432 s^9,6l5 _ 247____ -__________----- 170-- ±l° L ---b l >3?2— 25,601 67,614 68,709 4,497 1,300 117 25,112 873 409,524 117,697 154,571 103,572 120,604 245,214 9,06s 119 78,101 4,980 5,820 .... 30 73,806 87,837 1,526 46,276 17.754 l , 44s 18,280 15S 844 16,299 20S 1,233 3,760 10,399 8,564 l 34,016 240,255 2 , 876,933 73, H 9 8, S6S 60,206 122,455 1 ,463,799 2,643 214 33,656 1,900 '7,880 183 162,875 1 9 ,S62 64,749 130,732 1,680,192 5,777 533 3,108 2,576 876 5,295 627 690 3.545 2,057 673 30,052 1,770 700 1,239 188 545 1,665 523 209 916 156 444 8,777 116,462 47,182 47,829 46,833 23,370 69,965 36,565 17,147 43,429 30,619 38,631 567,681 3,303 458 1,030 385 801 1,919 869 657 425 1,947 4,457 16.697 1,551,589 3 94 , i 4i 452,229 224,321 219,922 792,706 224,309 135,456 212,167 133,544 415,192 5,180,332 20,000 7,133 _ — — — - - 44,027 Released for p u blication Friday morning, Oct. 14, 1921; not e a r lie r , RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCT. 1 1 , 1921. st. 2333c. (In thousands of dollars) L I A B I L I T I E S Federal Reserve Bank Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy* Dallas San Fran, Total Capital paid in 27,087 8,684 11,104 5,409 7,935 4,i46 14,358 4,567 3,556 k,5 & - 4,314 7,322 103,070 Surplus 16,342 59,318 17,564 22,263 11,026 8,708 30,536 9,114 7,303 9,330 7,113 15,207 213,824 Reserved for Govt, franchise tax 20,087 3,M<0 2,677 2,659 3,703 9,364 1,3 77 1,970 1,863 2,539 ."52,514 2,835 Deposits: Government 2,831 6,206 14,774 2,561 2,236 7,674 2,384 3,516 2,713 2,948 3,398 3,029 54,270 Member bank - reserve account 107,911 653,161 132,775 51,377 43,264 235,384 6i,osi 1*0,795 65,693 43,695 112,742 1 , 646,099 All other 937 11,148 1^681 1,405 422 -150- 2,508 850 611 -641______ 313-.-3,616 24,496 Total deposits 111,679 679,083 10 6,114 136,741 54,512 45,850 245,566 64,315 44,924 69,288 47,1406 119,387 1 724 865 F. R . notes in actual circulation 234,173 638,752 207,445 223, 8 7 2 10 9 , 4 2 6 13 0 , 30 9423 , 688103,120 58,160 73 1248 4 i ;433 23^685 2 ^ 76,311 F. R . Bank notes in circulation net liability 8,761 25,664 9,852 5,979 3,567 7,749 9,998 5,215 3,409 11,4 2 7 3,037 3,275 97,933 Deferred availability items 4l,850 96,785 43,855 44,4x5 36,537 18,431 55,086 35,4o4 i4,s66 4 i , U 2 28,501 32,561 489 ,403 _ 4 j 813_ 1.060 _ l _ J 23_ - 1 ^ 0 1 - 1 *026-— 4^110--1j122___ 1,268 ___ 1,371 All other liabilities 1,339 1,740 1 . 86q 22 , 4i 2 TOTAL LIABILITIES 424,756 1,551,589 394 ,l4l 452,229 2 2 4 ,3 a 219,922 792,706 224,209 135,456 212,167 133,544 415,192 5 , 180,332 Ratio of total reserves to deposit and. F* R. note liabilities combined, per cent 79*8 77*0 72.6 67.8 43,2 41.9 70.0 64.3 41,7 53*3 38,3 68,2 98,221 68,5 Contingent liability as endorser on discounted paper rediscounted with other F. R. Banks 20,000 Contingent liability on bills purchased for foreign correspondents 2,442 F. R, notes outstanding F. R . notes held by banks F, R. notes in actual circulation Bills discounted Bills bought in open market U , S . Certificates of indebtedness 4 1 6 , 37 s - _ _ 7,649 44,027 2,676 2,743 1,639 1,204 3,981 1,5 7 2 903 1,606 870 1,539 33,2*49 FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 248,110 745,045 226,611 241,822 118,078 135,932 467,765 127,715 60,246 80,067 45.063 283,735 2 , 780,189 8,652 5.623 44,07 7 24.595 • 2.086 6 .8TQ 3jl630 51,050 - 1^311___ 106^293. . 1 9 ,166 ...17,950 303,878 •— g j^g— U p 234,173 638 J 52:_207a 445 223,872 109,^26 130,309 423,§88 103,120 58,160 73 , 248 ^ DISTRIBUTION OF BILLS ANDU. S, CERTIFICATES OF INDEBTEDNESS BY MATURITIES1 ' ^ ^ Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 90 days Total 835,108 158,144 219,236 156 ,114 33,804 1 , 402,406 34,554 10,178 io,o64 6,527 70 61,393 22,083 2,500 16,799 18,824 122,531 182,737 12,074 Released for publication Friday morning, Oct. lU, 192 I ; not earlier. FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS OCT. 11, 1921. n . . Federal Reserve Agent at Boston (iii thousands of dollars) Phila. Cleve. Ei=I, Atlanta CMcago St .Louis I«nn. Kans. » . New York ot.c.333d. Sallas San Fran. Total R E S O U R C E S z t n ^ d i n g Collateral security for Federal Reserve notes outstandingSS2 “ t S u S ^ r o 3 ^ 10ateS P; P: ; ? — 3? 7'?60 160 ’ 000 n i- s s oil <>41,822 118,078 l ^ , 932 13-755 >3 1 : 00013 ^ S S T i i d T° ™ ‘ ^ l if - J S u-x« J ’S S ^ 4o tl, 05 12 /, 71^ W 1^ M 10 60, 2U6 ^ ^ l L i l l L S I & 80,067 - !:U S ^ » .* > ^ , 323 - U50.163 ^ ,0 6 3 283,735 2,780,189 6.701 2 :1 $ M 606,979 1.925.274 H78.086 600,090 265,080 365,969 1 , 11(3,926 286,053 157,680 191,755 132,536 607, 931, 6 , 76U ,362 L I A B I L I T I E S ‘ == ============:============== Net amount of Federal Reserve notes received from Comptro llero f the Currency Collateral received from Federal Reserve Bank: S ^ iilep a p er 10* tt * 3^7,610 1 , 060,625 2X6,831 28U.802 1J8,087 212,845 626,965 155,975 72,361 S ifr g ? g l l 606,979 y f r g i % % ! g°.’C T i o f : 6?? g - ii* SU,5 0 7 S5 .51 5 317,995 3 SlU 118 J-m o x ) _>,o i *+,i i s ’* ■*78.086 600,090 265,080 352,969 1 , 1 X3,926 286,053 157,680 131,755 138,536 607 , 931* 6 . 76K J 62
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