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Released f o r p u b l i c a t i o n Sunday m o r n i n g , O c t . 3 , 1920; n o t e a r l i e r , STATEI./[ENTFORTIiEPRF"S St.l464 F e d e r a l Reserve Board, O c t o b e r 2 , 1^20 CONDITION 0? FEDERAL RESERVE BANKS. Total g a i n s of 13,6 m i l l i o n s i n c a s h r e s e r v e s , l a r g e l y gold, r e d u c t i o n s of 1 2 . 6 m i l l i o n s i n n e t d e p o s i t s and i n c r e a s e s of 2 4 . 7 m i l l i o n s 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 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 1 s w e e k l y bar 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 O c t o b e r 1, 1 $ 2 0 . As a r e s u l t o f t h e above c h a n g e s i n r e s e r v e s and l i a b i l i t i e s t h e r e s e r v e r a t i o shows a r i s e f o r t h e week f r o m 4 3 , 6 t o 4 3 , 7 p e r c e n t . H o l d i n g s of p a p e r s e c u r e d by Government war o b l i g a t i o n s , i n c l u d i n g T r e a s u r y c e r t i f i c a t e s , show a r e d u c t i o n of 3 7 , 4 m i l l i o n s , t h o s e of o t h e r d i s c o u n t e d p a p e r i n c r e a s e d by 4 2 . 6 m i l l i o n s , w h i l e 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 d e c l i n e d by 6 * 1 m i l l i o n s . An i n c r e a s e of a b o u t 1 m i l l i o n i s shown i n 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 . Total earning assets, accordingly, show a n o m i n a l d e c l i n e • Of t h e t o t a l of 1,123 m i l l i o n s of p a p e r s e c u r e d by U n i t e d S t a t e s war o b l i g a t i o n s , 6 2 9 , 8 m i l l i o n s , or 5 3 ' 2 p e r c e n t , w e r e s e c u r e d by L i b e r t y b o n d s , 3 1 0 . 8 m i l l i o n s , or 2 b , 3 p e r c e n t , by V i c t o r y n o t e s , and 2 4 2 , 4 m i l l i o n s , o r 20*5 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 , compared w i t h 53 > 25 and 22 p e r c e n t of a c o r r e s p o n d i n g t o t a l of 1,220+4 m i l l i o n s r e p o r t e d t h e week b e f o r e . T o t a l s of d i s c o u n t e d p a p e r h e l d by t h e B o s t o n , New York, P h i l a d e l p h i a and C l e v e l a n d Banks a r e i n c l u s i v e of a b o u t 226 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 seven o t h e r R e s e r v e Banks i n t h e South and Middle P e s t , 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 P h i l a d e l p h i a , C l e v e l a n d and San F r a n c i s c o Banks a r e shown i n c l u s i v e of 19 *3 m i l l i o n s of bank a c c e p t a n c e s bought from t h e New York and Chicago R e s e r v e Banks, compared w i t h 23 <4 m i l l i o n s t h e week b e f o r e • Government d e p o s i t s show a n o m i n a l d e c l i n e of 0*1 m i l l i o n , members * r e s e r v e d e p o s i t s ~ f e l l o f f 2 4 , 4 m i l l i o n s , o t h e r d e p o s i t s , composed l a r g e l y of f o r e i g n government c r e d i t s and non-member b a n k s f c l e a r i n g a c c o u n t s , i n c r e a s e d by 0 . 5 m i l l i o n , w h i l e t h e M f l o a t n 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 as a d e d u c t i o n from g r o s s d e p o s i t s shows a d e c r e a s e f o r t h e week of 11,4 m i l l i o n s . As a c o n s e q u e n c e , n e t d e p o s i t s a r e shown 12-6 m i l l i o n s l e s s than on t h e p r e c e d i n g F r i d a y , 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 shows an a d d i t i o n of 2 4 , 7 m i l l i o n s , l a r g e l y i n t n e Few York and B o s t o n d i s t r i c t s , w h i l e F e d e r a l R e s e r v e Bank n o t e c i r c u l a t i o n d e c l i n e d by 0 . 8 m i l l i o n * A r e d u c t i o n by $ 8 5 , 0 0 0 i n t h e p a i d - i n c a p i t a l of t h e New York R e s e r v e Bank i s due a p p a r e n t l y t o t h e c o n s o l i d a t i o n o f two member banks i n B u f f a l o and t h e s u r r e n d e r o f F e d e r a l Reserve s t o c k , c o r r e s p o n d i n g t o t h e r e d u c t i o n i n c a p i t a l i z a t i o n of t h e consolidated i n s t i t u t i o n . R e l e a s e d f o r p u b l i c a t i o n Sunday m o r n i n g , O c t o b e r 3 , 1920; n o t e a r l i e r . STATEMENT OF COEBINED R E S O U R C E S Gold and g o l d c e r t i f i c a t e s Gold s e t t l e m e n t f u n d - F . R . Board Gold w i t h f o r e i g n a g e n c i e s EESOOBCES A ® St.1463a LIABILITIES OF THE FEDERAL RESERVE BANKS . O c t o b e r 1. 1920 $201,046,000 362,468,000 111,455,000 S e p t . 24, 1920 $183,826,000 3^1,303,000 111,455,000 ^ :H=B=r" HE-* a . S. V i c t o r y n o t e s — ^ss 'tis "=*=• H i «*** ### I ? 000 U n c o l l e c t e d i t e m s and o t h e r d e d u c t i o n s f r o m g r o s s d e p o s i t s 5 i Redemption f u n d a g a i n s t F . R. Bank n o t e s A U iatss — O c t . 3, 1 9 i ; nnn 51°, 3 ^ 5 , 0 0 0 ^ . c ggO 2 8 0 , 0 0 0 ll!856]000 6 ?'000 818,958,000 ^'ohVnnn S H c , 908,310,000 iri'oUA nnn " I S f S S S S * S p S Paid"in Government d e p o s i t s Due t o members - R e s e r v e a c c o u n t % Deferred a v a i l a b i l i t y items O t h e r d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s Total gross deposits F . R. n o t e s i n a c t u a l c i r c u l a t i o n F . R. Bank n o t e s i n c i r c u l a t i o n - n e t l i a b i l i t y All other l i a b i l i t i e s TOTAL LIABILITIES R a t i o 01 t o t a l r e s e r v e s t o n e t d e p o s i t and F . R . n o t e l i a b i l i t i e s combined Rat 11 VF g o l d r e s e r v e s t o F.R. n o t e s i n c i r c u l a t i o n a f t e r s e a t i n g a s i d e 35^ a g a i n s t n e t d e p o s i t l i a b i l i t i e s iGk%fo°o 4 5 4^4. qqq 776*243 000 608,056,000 QOO 35,363,000 2,466,116,000 3,304,690,000 213,412,000. 81,396,000 6,327,717,000 43.7^ 48»i$ 46,493,000 *1,800,677,000 *595,3^2,000 34,910,000 2,477,422,000 3,279,996,000 214,180,000 -=—7%, 5 3 1 , 0 0 0 6,312,275,000 . . ' 4 3 -6% ) of . 7 -9% •Revised f i g u r e s . %:%7:ooo ' firf , 0 0 ° 1,765,863,000 691,9^8,000 — >^3,,000 2,634,576,000 2,708,186,000 241,937,000 30,995,000 5,782,131,000 \ a 4 9 -7» a! 59-l-0 a o e d f o r p u b l i c a t i o n Sunday morniizg, O c t o b e r 3 S 1920; n o t e a r n e r . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE" BAHKS AT CLOSE OF BUSINESS OCTOBER 1 , i g 3 X R E S O U R C E S F - : d e r a l R e s e r v e Bank o f Gold and gold c e r t i f i c a t e s GcJ.i s e t t l e m e n t f u n d - F'.R. B o a r d Gc.'i. 1 w i t h f o r e i g n a g e n c i e s T o t a l g o l d h e l d by "banks Gold w i t h F , B . A g e n t s G e l d redeiT.ption f u n d Total gold r e s e r v e s Legal tender n o t e s , s i l v e r , e t c . Total reserves B i l l s discounted: (a) Secured by Govt.war o b l i g a t i o n s All other B i l l s bought i n open market (b) T o t a l b i l l s on h a n d U. S . Government b o n d s U. S , V i c t o r y n o t e 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 Total earning a s s e t s Bank p r e m i s e s U n c o l l e c t e d items and o t h e r deductions from g r o s s d e p o s i t s 5fo Redemption f u n d a g a i n s t F . R , Bank n o t e s All other resources TOTAL RESOURCES (a) Includes b i l l s rediscounted for other F. R. Banks, v i z : (b) Includes bankers' acceptances bought from o t h e r F.R.Banks: Without t h e i r endorsement Boston 7,660 46,199 8,1)6 New York 110,897 Pbila, Clevel. 1,417 10,44-3 ( I n t h o u s a n d s of d o l l a r s ) Richm, A t l a n t a C h i c a g o S t . L o u i s 2,40 2 St„l«-oJb 7,434 24,492 M i n n . X a n s . C y . D a l l a s San F r a n . 3,205 7,210 652 42,729 45,243 80,863 23,863 7,447 41,466 6,745 8,52b 24,875 40,905 8,916 9,139 5.46l 4,013 1 3 . 263 5.236 3,009 5.350 35,982 9,275 Total 4,901 20^3 20?,^ 2 . 8 y 8_ _ _ h a ; I'll 3,936 30,5 61,995 134,993 18.440 215,434 6.564 194,531 55,576 100,445 31,726" 18,894 79,221 15,188 18,745 30,877 11,735 56,03b 671T9E3 266,519 121,610 142,238 44,403 52,647 188,930 47,580 27,569 39,959 29,613 84,326 i,iso,393 10b,750 490,677 123,844 53,013 36,537 64,294 147,384 38,978 383,453 62,049 148,350 73,342 57,379 325,364 80,034 96.465 8.255 49,586 6.932 1.886 39,786 1.880 9 70,595 194,148 250,949 116,811 123,559 512,534 1 20,892 1,462 1,434 834 1,233 113 4,490 1,153 221,998 77,462 30.038 214,250 555 5 12,408 7,572 6.656 25,106 6,224 3,2:5 4,105. 5,030 13.677 147.710 497,032 186,461 255,091 83,701 78,197 293,257 68,992 49,5*49 74,941 46,378 154,039 2,003,072 31 2,642 402 1.245 9.188 7 . 6 2 2 138 1.915 2,900 583 162.123 127,993 625,025 187,392 257,733, 84,103 50 10 79,442 302,445 76,614 49,687 3 76,856 49,278 154,622 2,165,195 I?1 a n 11,043 35,238 21,551 5 3 , ^ 1 , 1 8 3 , 4 0 7 ^ " 73,691 71,866 52,752 1 2 0 , 8 ^ 1 , 5 2 6 , 5 9 4 1.498 3.534 585 61.065 301.510 86,232 110,638 74,888 235,615 3,011,111 116 8,867 1 3,966 — 2,632 — 26,855 69 V3 43,815" 820,280 21.578 69,513 31.458 25.299 12,262 15.666 39,728 17,297 8.481 12.826 8,300 11.074 271.482 236,388 1,041,620 227,040 275,092 130,306 139,341 556,752 139,342 94,829 132,332 87,154 @49,321 3,309,517 1,877 4,026 652 1,172 1,206 620 2,123 866 603 84s 1,230 232 15,455 61,915 1,072 394 175,194 69,142 2,481 7o8 1,300 545 79,494 56,350 1,139 251 451 J82_ 28,785 113,953 44,147 23,402 1,745 464 573 429 499 _2H 582 69,162 54,923 916 306 586 665 11,856 ttQqm 5.414 523,644 1,849,114 4s6,07l 6i4,88l 273,005 248,920 977,482 261,924 169,o4o 280,420 194,154 449,062 6,327,717 52,641 19,003 31,485 122,906 4,911 10,000 226,035 4,951 19,862 ; i o n Sim day m o r n i n g , O c t o o e r j , 1Q20; n o t e a r l i e r . Sti„l4o3c. BESOURCES MD LIABILITIES OF'THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS OCTOBER; 1 , 1 9 3 0 . ( 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 tiew o r k P h i l a * C l e v e l . i i c m . A t l a n t a Chicago F 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 . F e d e r a l R e s e r v e Bank Boston - Q 6,867 3,926 13,720 4,304 3,334 4,439 ),968 5,214 8,417 10,253 -5,272 Capital paid-in 7,644 $7,358 8,067 7,050 23,917 5,884 5,178 8,395 •,152 11,662 1 6 4 , 7 4 5 5 1 , 3 0 8 13,069 13,712 Surplus 1 2 , 3 51 16,082 6,190 3,350 3,715 1,621 2,389 1,492 1,241 2,153 1,939 3,099 46,454 Government d e p o s i t s 3>183 685,654 109,370 151,567 56,032 49,147 253,824 61,165 44,120 79,312 49,493 117,353 1,776,243 Du3 t o members - r e s e r v e a c c o u n t 119,201 110,84-6 51,4-83 61,93s 44,4-20 23,925 78,306 39,410 22,281 58,057 34,552 33,216 608,056 Deferred a v a i l a b i l i t y items 40,622 Other d e p o s i t s , i n c l u d i n g f o r e i g n 666 _6]0_ 468 2.285 881 431 8,707 35,363 1.097 16,7^5 1,4-25 1.4-27 .601 government c r e d i t s 173,103 829,327 168,468 218,282 104,770 75,l6l 336,802 102,94s 68,272 140,188 36,415 162,380 2,466,u6 Total gross deposits 309,586 866,091 270,892 345,751 141,463 147,538 55^,238 135,888 81,964 108,823 89,94c 252,516 3,304,690 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 F . R . Bank n o t e s i n c i r c u l a t i o n 16,64s 40,219 21,333 21,916 11,233 12,764 36,545 10,321 8,096 15,651 7,724 10,962 213,412 net l i a b i l i t y 36.89 7 3,89 2 4.q67- 2.258 2i_481_ 12.260 2,579 2.196 2.924 1,955 4.675 _ 81.396 4.312 All other l i a b i l i t i e s 523,644 1,849,114 486,071 6i4,881 273,005 248,920 977,482 261,924 169,040 280,420 194,154 449,062 6,327,717 TOTAL LIABILITIES 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 a n d i ' . R . 4i.O 38.9 39.4 39.2 42.7 4o.6 41.7 43.7 4i.l 50.6 53.2 44.3 n o t e l i a b i l i t i e s combined, p e r c e n t 52.8 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 226,035 25,000 48,856 18,550 35,051 18,631 41,986 ,37,961 o t h e r F . R, Banks Bankers' acceptances sold to other 10,coo 19,862 9,862 F.R,Banks w i t h o u t endorsement 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 c h a s e d 16,204 4i6 768 432 736 784 576 1,904 1,168 6,076 1 , 2 8 0 1,312 752 for foreign correspondents FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION 323,686 974.483 284,618 367,726 146,998 152,142 624,505 153,564 82,960 114,026 93,252 285,189 3,603,149 F . R. n o t e s o u t s t a n d i n g 108.39-2 13.726 21.975 5.535 4,6o4 70.26? 17,676 996 5.203 3.312 3 2,673 298,459 14.100 F . R« n o t e s h e l d by b a n k s 309,586 866,091 270,892 345,751 141,463 147,538 554,238 135,888 81,964 108,823 89,940 252,516 3,304,690 F, P . n o t e s i n a c t u a l c i r c u l a t i o n DISTRIBUTION OF BILLS AND U„ S , CERTIFICATES OF INDEBTEDNESS BY MATURITIES W i t h i n 15 days l o t o 30 days 31 t o 60 days 6 l t o 90 days Over 90 days Total 1,515,472 307,789 514,192 346,73425,4I4 2,709,601 B i l l s discounted 106.484 92,432 85,555 17,039 301,510 B i l l s b o u g h t i n open m a r k e t 23,74s 13,500 18,870 23,260 192,104 271,482 of i n d e b t e d n e s s U. S s C e r t i f i e s Released for public lie l e a s e d for p u b l i c a t i o n Sunday morning, October 3, 1920; n o t e a r l i e r . FEDERAL EESERVE AG-EFTS• ACCOLINTS AT CLOSE OF BUSINESS OCTOBEE I, 1920 st.iU63a ( I n t h o u s a n d s of d o l l a r s . ) F e d e r a l R e s e r v e Agent a t Boston E E S 0 U E CES F e d e r a l Reserve n o t s s on hand 64,600 F e d e r a l Reserve n o t e s o u t s t a n d i n g ' 323,686 Collateral security for Federal Reserve n o t e s o u t s t a n d i n g : Gold and g o l d c e r t i f i c a t e s 5,900 Gold r e d e m p t i o n fund 18,099 Gold s e t t l e m e n t f u n d F.B.Board 111,000 E l i g i b l e parper M o u n t r e q uuiirreedd 188,687 Excess an our. t h e l d 25^63 TOTAL Few York Phi l a . Clevel. Eichm. A t l a n t a Chicago S t . L o u i s Minn« Kans. Cy. D a l l a s San F r a n • Total 143,000 3 5 , 8 8 0 27,680 2 6 , 3 9 ? 71,675 974,483 284,618 367,726 1 4 6 , 9 9 8 152,142 6 o , 6 4 o 20,1+80 624,505 153,564 7,0^0 6 , 2 7 0 iSM.C, 5,320 485,523 8 2 , 9 6 0 114,026 ; 93 , 252 285,189 3,603,14% 209,607 11,912 15,221 45,000 106,389 32,025 20,213 90,000 1,903 42,500 2,500 U.lU? 46,000 8,786 180,l44 3,810 3,739 4o,031 13,052 1,317 13,200 3,599 36,3&0 12,331 5,^8 11. 7",H 12,7l4 71,6x2 279,225 107,195 795.9/0 707,964 163,008 225,488 102,595 23l!Q46 9 : 3 5 3 22^519 10.270 9^95 2%:015 ^ 3 5 , 5 7 5 105,9fJ* 76:117 l 4 j 8 6 4 55,39} 16:966 74,067 34^051 63,639 2 : 0 , 8 6 3 2,422,756 ll",2^ 737,535 2,323,912 6i4,469 785,651 330,664 3 99,974 1,335,767 3 4 2 , 4 7 2 189,926 268,373 214,233 597,208 8'; 19c, 184 L I A B I L I T I E S F e d e r a l Reserve n o t e s r e c e i v e d from C o m p t r o l l e r - g r o s s Less amounts r e t u r n e d f o r destruction 675,600 2 , 2 7 9 , 5 2 0 651,380 675,500 3 7 1 , 2 6 0 382,000 2 8 7 . 3 l 4 1 . 1 6 2 . 0 3 7 330. 882 280.094 197.864 158.181 455.295 199, 836 F e t amount of F e d e r a l R e s e r v e n o t e s r e c e i v e d f r o m Compt r o l l e r of t h e Currency* C o l l a t e r a l r e c e i v e d from F e d e r a l Reserve Bank: 388,286 1 , 1 1 7 , 4 8 3 3 20,49 8 3 95,4o6 173,396 223,817 685,145 174,044 9 0 , 0 0 0 120,296 109,732 290, 569 4,088,672 Gold E l i g i b l e paper TOTAL * * ' 134,999 214.250 ' 266,519 121,610 ~ 142,238 44,403 52,647 939.910 172.361 248,007 112,865 121.510 737,535 2,323,912 6l4,469 785,651 i,l4o,44o 188,930 3 7 3 , 8 8 0 176,680 253,660 194,180 5 0 9 , 5 4 0 7 , 6 8 3 , 6 4 o 86.680 131.364 84,448 2 1 8 . 9 7 1 3 . 5 9 4 . 9 6 8 47,580 27,569 39,959 29,613 84,326 l, 180,393 511,692 120,848 7 2 , 3 5 7 108.118 7 4 . 8 8 8 222.313 2 . 9 2 1 . 1 1 9 3 3 0 , 6 6 4 399,974 1,325,767 3 ^ 2 , 4 7 2 189,926 268,373 214,233 597,208 8 , 1 9 0 , 1 8 4
@FedFRASER