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STM&StT FOB tiS: fBBSS S t . 5952 F e d e r a l Reserve Board, October 25, 1928. Released f o r p u b l i c a t i o n Friday morning, Oct. 26; not e a r l i e r . CONDITION OF J3SHEU1 22SSRV3 BANKS TI:e c o n s o l i d a t e d s t itement of c o n d i t i o n of t h e F e d e r a l r e s e r v e "banks on October 24, made p u b l i c "by the F e d e r a l Reserve Board, shows a decrease f o r t h e week of $23,900,000 in h o l d i n g s of " b i l l s d i s c o u n t e d , l a r g e l y o f f s e t "by an i n c r e a s e of $22,100,000 i n h o l d i n g s of b i l l s bought i n open market, d e c r e a s e s of $37,000,000 i n member bank r e s e r v e d e p o s i t s and of $o,o00,000 i n 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 2nd an i n c r e a s e of $8,500,000 i n cash r e s e r v e s . Tot a l " b i l l s and s e c u r i t i e s y/ere $3,700,000 below t h e amount h e l d on October 17. The p r i n c i p a l changes i n h o l d i n g s of d i s c o u n t e d b i l l s f o r t n e week were d e c l i n e s of $51,100,000 a t t h e F e d e r a l Reserve Bulk of New York and of $4,300,000 a t S t . Louis, and i n c r e a s e s of #17,700,000 a t Chicago, $0,800,000 a t Kansas C i t y , and $3,400,000 at Cleveland. The System's h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $22,100,000, of Treasury n o t e s $1,300,000, and of United S t a t e s bonds $300,000, while h o l d i n g s of Treasury c e r t i f i c a t e s d e c l i n e d $2,000,000. Federal r e s e r v e n o t e c i r c u l a t i o n d e c l i n e d $5,300,000 a t t n e F e a e r a l Reserve Bonk of New York and $4,300,000 a t Son F r a n c i s c o , and i n c r e a s e d $3,100,000 a t t h e Cleveland bank. A StiBteajpy of changes i n t h e p r i n c i p a l a s s e t s and l i a b i l i t i e s of t h e r e serve bciltefl d u r i n g the week and t h e year ending October 24, 1928, f o l l o w s . Increase or decrease during Year Week Total reserves . Gold r e s e r v e s + $8,900,000 + 10,100,000 - $314,600,000 - 310,800,000 T o t a l b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l Secured by U.S.Govt, o b l i g a t i o n s . Other b i l l s d i s c o u n t e d - 3,700,000 - 23,900,000 - 16,500,000 - 7,300,000 + 333,^00,000 + + + 509,500,000 317,000,000 192,600,000 B i l l s bought i n open market + 22,100,000 + 100,400,000 U. S. Government s e c u r i t i e s , t o t a l . . Bonds Treasury n o t e 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 . . . 300,000 + 300,000 + 1,300,000 - 2,000,000 + 279,600,000 208,500,000 700,000 71,800,000 - + 7,400,000 + 29,500,000 30,000,000 5,400,000 Federal reserve notes in c i r c u l a t i o n Tbta% d e p o s i t s . . . . . . keaWrs* r e s e r v e d e p o s i t s Government d e p o s i t s . . . . 6,600,000 - 20,600,000 - 37,000,000 + 19,000,000 Released, f o p u b l i c a t i o n F r i d a y morning, October 2o, 1928; n o t e a r l i e r . S t . 5952a RESOURCES JED LIABILITIES OF THE T17ELVE FEDERAL RESERVE 3A1IKS COMB DIED ( I n thousands of d o l l a r s ) Oct. 2%.1928 Oct. 17.1928 Oct. 26.1Q2J RESOURCES Gold -?ith F e d e r a l r e s e r v e agents Sold redemption rund c i t h U.S. Treasury . . Gold h e l d e x c l u s i v e l y a g a i n s t F . R . n o t e s . Gold s e t t l e m e n t fund v.lth F. R. Board . . . Gold and gold c e r t i f i c a t e s h e l d by "o^jnks . • 1,180,352 • 68,558 1,248,910 1,207,44s 72,282 1,279,730 1,623,253 42,028 1,665,281 677,753 590,373 2,646,230 132,064 678,629 634,885 656,886 2,636,112 2,957,052 133,275 135,793 Total reserves ITon-reserve cash B i l l s discounted: Sec. by U.S.Government o b l i g a t i o n s . . . . Other b i l l s d i s c o u n t e d 2,778,294 2,769,387 57,487 56,192 3,092,345 61,137 553.393 358,534 569,9S4 236,428 365,826 165,970 Total b i l l s discounted . . . . . . . 2111s bought i n oxiea market U. S. Govern iont s e c u r i t i e s ; Bonds Treasury n o t e 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 . $11,927 935,810 379 >09 402,398 53,071 124,339 53,955 231,365 261,876 124,941 Total sold reserves Reserves o t h e r than gold . . . . . . . . . . 706,947 401,478 53,412 125,667 51,96s 231,047 T o t a l U. S. Government s e c u r i t i e s Other s e c u r i t i e s 5,280 301,111 123,813 510,630 620 3,730 1,548,182 732 734,235 60,513 o,449 1,551,864 574 975,181 1,214,759 5,187,892 5,424,164 5,130,515 F. R. n o t e s i n a c t u a l c i r c u l a t i o n . . . . . .Deposits: '..'ember bank - r e s e r v e account Government . . * Foreign bank Other d e p o s i t s 1,710,409 1,717,050 1,702,999 2,321,838 2,358,874 20,709 6,945 23,085 2,351,870 19,794 8,359 23,928 Total deposits Deferred a v a i l a b i l i t y i t e m s Capital paid in Surplus All other l i a b i l i t i e s 2,374,473 689,914 145,926 233,319 33,851 2,395,114 900,479 145,677 233,319 32,525 2,403,951 646,615 131,293 228,775 16,882 5,187,892 5,424,164 5,130,515 T o tal b i l l s and s e c u r i t i e s Due from f o r e i g n banks Uncollected i t e m s Bank premises A l l other r e s o u r c e s . . . TOTAL RESOURCES 60,493 10,473 564 688,277 59,774 13,159 L I A B I L I T I E S TOTAL LIABILITIES R a t i o of t o t a l r e s e r v e s t o d e p o s i t and F. R. n o t e l i a b i l i t i e s combined . . . . Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents C. , . 25,240 6,686 6,210 68.0$ 67.3% 75.3^ 262,421 258,979 194,886 RESOURCES AUD LIABILITIES OETHE FEBERAI,'RESERVE' "BABES1 OT'OSTOBER 24; ig2S St. RESOURCES ( I n thousands of d o l l a r s ) Total Boston Hevr York Phi l a . Clove. • Rich. A t l a n t a Chicago S t . Louis Minn. ICans.Cy. D a l l a s San Fran. Gold v;ith Federal Roservo Agents 1 , 1 8 0 , 3 5 2 123,446 174,800 8 2 , 6 5 4 153,363 34,293 6 2 , 7 6 2 253,934 22,896 4 4 , 5 8 6 4 l , 9 3 0 24,376 l 6 l , 3 1 2 Go:'., redemption fund w i t h U . S . T r o a s . 6 8 , 5 5 8 6,008 16,959 7,442 4,949 2,527 5,334 6,337 6,082 4,122 2,705 2,097 3,996 Sold h o l d e x c l u s i v e l y a g a i n s t ? . R. n o t e s 1 , 2 4 8 , 9 1 0 129,454 191,759 90,096 158,312 36,820 68,096 260,271 28,978 48,708 44,635 26,473 1 6 5 , 3 0 s 214,795 44g,447 50,066 27,914 55,637 46,444 27,576 8,189 11,885 142,255 4,466 60,47s 22,606 8,982 20,481 5,520 33,089 6,150 27,608 7,123 2 , 6 4 6 , 2 3 0 225,4o4 132,064 15,071 855,001 l 6 s , 0 7 6 26o,393 22,586 7 , 3 5 2 11,959 72,585 8,4p6 84,447 463,004 13,213 l 6 , o 6 2 60,566 7 4 , 7 0 9 8 3 , 8 7 4 61,264 236,907 15,502 1,854 5,482 5,646 8,931 Total r e s e r v e s 2 , 7 7 8 , 2 9 4 24o,475 1?on-reserve c a s h 57,487 7,331 B i l l s discounted: Secured "by U.S.Govt, o b l i g a t i o n s 553,393 17,867 other b i l l s discounted 358,534 15,132 877,587 175,428 272,352 17,074 945 3,233 80,9 91 3,718 97,660 479,066 4,134 8,296 76,06s 3,355 76,563 1,113 89,356 2,102 6 6 , 9 1 0 245,838 2,541 3,645 155,646 91,607 63,644 14,822 47,659 29,367 21,880 &,756 23,o4s 101,311 53,827 42,206 23,932 22,931 13,506 7,055 18,032 21,400 14,783 10,057 52,085 9,374 78,466 46,636 19,112 76,875 143,517 21,553 29,336 46,863 9,465 20,561 16,522 39,^32 22,806 24,84o 20,366 77,459 39,84a Gold s e t t l e m e n t fund r d t h P.R.Board 706,947 Gold and g o l d c o r t i f . h e l d by banks 6 9 0 , 3 7 3 Total g o l d r o s e r v o s R e s e r v e s other than g o l d 60,4-36 35,514 40,453 31,l4o Total b i l l s discounted B i l l s b o u g h t i n open market U._ S. Government s e c u r i t i e s ; Bonds Treasury notes 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 911,927 401,478 4 32,999 44,23s 247,253 121,454 19,131 77,02637,647 53,412 125,667 51,968 702 3,809 2,488 1,384 29,966 19,182 585 11,003 9,4S4 54s 29,347 3,956 1,152 l,4oo 872 270 3,816 1,261 19,927 8,630 5,663 7,125 12,057 1,594 4,519 4,989 1,198 8,505 1,902 1,075 8, 653 4,824 2,526 42 13,924 2,669 T o t a l U . S . Govt, s e c u r i t i e s Other s c c u r i t i c s 231,047 3,730 6,999 50,532 200 21,072 30 33,851 3,424 5,347 34,220 20,776 10,706 500 11,482 16,003 3,000 16,635 T o t a l b i l l s and s e c u r i t i e s 1 , 5 4 8 , 1 8 2 84,236 419,439 118,699 148,524 6 9 , 1 7 2 103,775 207,073 77,104 48,289 73,720 37 70,731 3,824 171 376 199,289 16,675 1,294 25 59,680 3,661 378 21 27,181 2,367 1,701 21 34,004 3,931 465 l4 16,917 2,202 so4 18 17 41,824 30,63s 4 , 3 0 8 . 1,939 419 367 'Dv.o f r o m f o r e i g n b a n k s uncollected items B^nk p r e m i s e s 111 o t h e r r e s o u r c e s TOTAL RESOURCES 732 734,235 60,513 8,449 - 47 57,625 1,752 153 - 52 67,405 6,806 1,346 - 69 88,062 8,720 723 - - — 64,209 1 3 3 , 9 4 2 35 40,879 3,828 628 5 . 1 8 7 , 8 9 2 4 o 6 , s o 5 1 , 5 3 1 , 7 3 4 354,649 4 9 9 , 7 1 s 217,625 237,339 792,009 194,94s 1 4 5 , 9 0 2 211,695 166,673 4 2 8 , 7 9 5 L I A B I L I T I E S RESOURCE'S A2TD m S l M T l S S ' OF"THE'ITORSE-'SBSSRVETMS OH OCTOBER 24, 192s. ( i n thousands of d o l l a r s ) T o t a l Boston How York P h i l a . Clove. Rich. Atlanta Chicago St.Louis 1,710,409 149,23s 332,304 126,218 205,175 71,503 128,922 297,737 60,718 F.R.notes in actual circulation Deposits: Member bank - r e s e r v e account 2,321,838 Government 25,24o F o r e i g n "bank 6,686. Other d e p o s i t s 20,709 Total deposits 2,374,473 D e f e r r e d a v a i l a b i l i t y items 689,914 C a p i t a l p a i d in 145,926 Surplus 233,319 All o t h e r l i a b i l i t i e s 33,851 TOTAL LIABILITIES 5,187,892 Reserve r a t i o (per c e n t ) 08.0 Contingent 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 262,421 J . K . n o t e s on hand ( n o t e s r e e ' d from F.R,Agent l e s s n o t e s in c i r c u l a t i o n ) 4q4,073 F . R . n o t e s r e e ' d from Comptroller F . R . n o t e s h e l d by F. R. Agents F . R . n o t e s i s s u e d to F.R.Bonk Collateral held as security f o r F. R . n o t e s i s s u e d to F.R.Bank: Gold and g o l d c e r t i f i c a t e s Gold redemption f u n d Gold f u n d - F. R. Board E l i g i b l e paper Total c o l l a t e r a l B i l l s discounted B i l l s bought i n open market 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 Municipal --/arrants C. 153,180 881,428 134,719 186,755 4,450 1,091 1,239 219 158,319 7,557 221 1,086 896,340 136,531 189,628 179,811 53,290 63,273 4,525 395 69,316 10,122 500 548 269 267 221 24i 732 2,531 70.516 55.517 67,393 355,699 23,749 82,282 10,877 35,998 79,125 1,427 226 693 81,471 35,363 5,239 18,449 5,413 9,996 32,778 10,397 2,O4O 5,o64 1,586 Minn. Kans.Cy. D a l l a s San F r a n . 62,103 63,603 48,581 164,307 55,899 92,479 70,566 917 1,318 1,929 142 190 184 464. 855 96 94,842 57,^22 72,775 15,011 38,841 31,653 4,200 4,316 3,014 9,046 7,039 8,527 1,313 1,163 821 185,284 i,4oo 374 6,479 193,537 41,808 10,899 17,893 16,629 1,917 1,1 1,615 406,805 1,531,734 354,649 499,71s 217,625 237,339 792,009 194,948 145,902 211,695 166,673 428^795 78.2 78.2 71.4 66.8 69.0 57.0 49.7 73.3 53.5 64.1 56.4 55.1 68.7 19,424 33,045 2,912,632 242,893 798,150 60,6l0 2,114,482 182,283 346,567 92,470 741,315 1,257,740 2,905 67,351 64,296 350,756 2,629 2,635 1,680 tit. 5952c 35,300 49,191 63,007 11,081 14,579 21,662 2,369 I4,4O2 24,021 3,219 6,102 12,324 76,474 24,603 26,934 13,208 11,136 9,323 9,064 18,388 115,196 32,436 28,551 15,729 31,290 45,006 13,233 6,810 10,363 FEDERAL RESERVE HOTE ACCOUNTS OF FEDERAL RESERVE AGEFTS 722,280 204,454 271,756 113,151 220,972 460™,313' 90,o81 84,652 102,626 274,780 45,300 38,030 25,919 60,760 117,570 16,930 15,739 28,660 4 4 7 , 5 0 0 1 5 8 , 6 5 4 233,726 8 7 , 2 3 2 1 6 0 , 2 1 2 342,743 73,951 68,913 73,966 9,345 63,059 153,407 - 50,000 6,690 27,100 7,600 3,603 5,162 2,934 2,296 , 5 , 0 0 0 73,777 90,000 24,ooo 30,500 251,000 13,000 345,414. 76,635 112,486 59,949 98,356 172,651 56,292 2, 3d,092 200,654 520,214 159,229 265,s4g 94,242 1 6 1 , l i s 426,555 79,138 l-jATURIx'Y DISTRIBUTION OF BILLS, CERTIFICATES OF IHDEBTED-IESS Total within 15 days 16 t o 30 days 31 to 60 days 6 l to 90 days 91 6 911,927 770,689 38,516 57,780 29,251 401,478 119,115 39,703 123,392 114,293 4,461 51,968 11,596 30 30 10,146 78,000 77,218 6,992 16,393 8,877 13,363 74,478 324,176 16,552 96,800 57^926227^376 14,167 17,303 35,000 2,419 4,070 3,573 19,634 ,vw w 28,000 37,860 3,500 106,678 34,878 62,oo4 45,181 116,676 79,464 103,934 69,557 277,988 AITD MUNICIPAL WABRAxTTS days t o Over 6 months months 15,055 636 4,975 34,673 1.23C
@FedFRASER