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Released for public.ation
Friday morning, 00t. 3;
not ea1·lier.
St,4257
Fece:ta.l Reserve 3oard
Oc--~o~er 2, 1924
The c.onsolidaced statemer•t of c-ondition of the Federal reserve banks on Or.tobter 1, made public. by the Federal Reserve Boc..rd, shows an inc.rease of $l.J.6,4oo,ooo
in holdings of ar.r.eptanNls pur~ha3ed in open rnarl-~:et, of $6,900.000 in disc.ounted
bil:isg and of $1,400,000 in Government ser.,Jrities. As a result of these c.hanges,
total earning assets were $54,6oo,ooo above the amount reported a week ago. Federal
re.3erve note c-irc-ulation rose by $15,100,000 and total deposits by $18,100,000, while
~~sh reservas dec.lined by $25,ooo,coo.
The New York reserve bank reports an addition of $18,600 1000 to its holdings
?_f discounted bills, while Dallas shows a decline of $2,700,.000, Boston of
-~2,500,000• Bicr..xnond of $2,300,000, and Cleveland of $2,200,000.
The remaining banks
abow relatively small changes in this item for the week. Holdings of paper secured
by U. s. Government obligations went up by $15,300,000 to $lo4,8oo.ooo. Of the latter
amount, $77,900,000 was sec.ured by Liberty and other U. S, bonds, $25,400,000 by
~reasury notes, and $1,500,000 by c.ertifir.ates of indebtedness •
.An increa:;.<:: of $34,700,000 in holdings of ar~eptan~es purchased in open market
is reported by the Federal reserve bank of Nevv York, of. ~2 1 800,000 by Chicago, and of
$2,300,000 eac.h by the San Fran~is~o and Boston reserve banks. Holdings of U. s.
Govermnent bonds rose by $600,000 and of r.ertifir.ates of indebtedness by $800,000 ,;
while holdings of Treasury notes remained practic-ally unchanged.
~~1 Federal reserve ba~s report a larger volume of Federal reserve notes in
r.irculation, except Cleveland and Chicago whose note circulation fell off by
$1 ,4oo,ooo and $1,6co,ooo, respec·ti vely. The largest in~rease - $5,100 1 000 - in Feoeral reserve note ~il·C'.ulation is shovm for the PniJ.adelpbia bank·, :Boston reports an
inMease of ~3, 200:000, and Dallas an im""rease of $2 ,OCC ,OCO. Gold reserves dec-lined
by $23,900,000 dur:i.;ng the week, Be serves other than gold by $1,100,000, and Nonreserve r.ash by $3,400,000.
A surnrnary of '"ha.nges in the prindpal assets and liabilities of the reserve
ban.i::s during the week and the year ending Oc-tober 1, 1924, follows:
Inc.rease or decrease during
Total reserves • • •
Gold re serves , • .
VJeek
..
- $25,000,000
23,9CO,OOO
Total earning assets • •
. • • •
Bills di>1C'-ounted, total • • . . . . . . •
Secured by U, S. Government obligations,
Otl:ler bills di sc.ounted ••
Bills bought in open market
•
•
•
•
t
•
,.
U. S. Goverm,ent ser.u.ri ties, tote;il • ,
Fonds . . , . . . . . .,., • .
Tre£.sury notes
Certific.ates of inoeb-';.ed;.less
i
..
...
Federal Reserve notes in 0i rc-ula.t.ion
• • •
Total deposits • • . , . . . . . • • •
Merribars i reserve ceposi ts • • • ,
Gave rllmGr. t cepo sits • • • • . .
Other deposits • • • • . . . . .
,
w.
Year
..
..
it
..
.,
+
+
+
54,6001000
6,soo,ooo
151)00,000
8,4co,ooo
- $57,000,000
70,600,000
-
167,100j000
614,900,000
295, LIO!) j 0)0
319,500,000
+
46,4oo~ooo
+
+
1 ,1!00,000
6oo,ooo
+
800,000
+ 15,600,000
+ 330,200,000
+ 135,000,000
+
15,1CO,COO
- 527.300,000
+ :i8 I lCO 000
J
+
+
716(;'),0~0
+
9CO~COO
9 t (""'·)
l \...\ r, coo
.) •
34,6oo.ooo
+
4so,soo,ooo
+ 277,800,000
+
+
243,;100)000
25,500,000
+ 7,4oo,ooo
Released fo~ publieatian FT.iday morning, October.
3.
1924; not earlier.
St. 4257a
BESC!URCES AND LIA:3ILITIES
OF THE TWELVE FEDERAJ" RESERVE BANKS COMJINED
(In thou.san~s of dollars)
pet.
l, 1g24 Sept. 24.~24
RESOURCES
Gold with Fede:r.al :r.eser.ve agents , • • •
Gold r.edcmpticn fund with U.S.T~easur.y
Gol~
held
exclusively_~ainst F.R.note~
· Golo settlement fund with F. R, Board •
Gold md gold ce;..tificates hcild by banks
TO!§c.L.KQ~Q
r.e se:r.ve s , • . . . . . . .
Reserves other than gold • . . . . . •
Total
Non-reserve cas~~. , .
c1 isccunted:
. Sec. by U. S. Gcvernment obligations
Other bills discounted .
Bill~
Total bi Us c'l isccunted
-
• • •
4
•
.Bills bought in open market •
U. S. Governm~nt securities:
Bcnc'ls . . . . . . . . . . .
Treasury notes • , . . . . . . . .
Ca:rtificatds of inclebtcdni.3SS . . .
Gove:r.n~ent
Total U. S.
2,027,304
34,772
2,062, 076
588,384
394,779
2,031,406
34,686
(' 2,055,ob3
59, lOS
2,066, C92
603,448
399,623
2,114,771
643,874
357,185
3,045,239
3, 069, 163
86,852
3,115,830
72,160
85,786
sec~~ities
All other earning assets •
Total earning assets •
5'1
Redemption funcl. - F. R. Bank notes
Uncollected items. • . . . . . . . .
Bank p:r emises • . . • . . • . , • •
All other resources , • . .
TCT AL RESOURCES •
F. R. notes in actual ci-rculation.
F, R, Bank notes in circulaticn - net
Deposits:
Member bank - rase:r.ve accou.nt • . .
Government . . . .
. . .
Other <'leposits . . . . . . . . . ,.
Total de12_os its
Defe:r.:red availability items .
Capital paid in . . .
Surplus . • . . . . . . . .
All other. liabilities . . .
TOTAL LIABILITIES
-----
3,156,015
43,191
3,187,990
72,354
89,515
170,343
400,158
481,503
259,863
,'-{{.. 881,661
172,902
37,663
3~7, 762
1 0,532
37,061
397,753
139' 782
22,067
67,561
5,514
575,957 -0
1,99§.7l -
95,142
574,596 ~o
1,99'5- 7J _ _ 317_
982,969
928,355
1,150, 022
593,345
60,026
23
663,548
55,173
13, 11.8
3,131,025
:r.es~r.ves
Oct. 3. 1923
39,776
104,785
161,971
266, 756 £'0 b
138,~
-
621,403
60,040
261211
4,861, 730
1, 744,974
2,127,949
56,542
29,511
2, 21~, 002
557,664
111,964
220,915
___!2,21!_:
4,861, 730
~ J,
26,211
4,812,143
l, 729,859
5,142,233
2,272,308
485
'
1,8s4,o4.G
·3o,o65
22,12b
2,120,33'1
.'46 ~6
2s: 25
2,195,f82
5l.j.0,9C3
111,976
220,915
12, 582
1,936,237
583,742
109,bb9
218,369
21,42.3
4,812,143
5,142,2.33
Ratio of total :r.eserves to deposit and
F. R. note liabilities combined . •
79.1%
80.4~
75.8%
Contingent liability on bills purchaso.d
for foreign cor:r.;:spondents • . . • .
18,727
19,692
34,311
4257blitelaasecl f'or puoli0aticn Friday morning, Octooe:r 3, 1924; not aa:r.litlr.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE 3A.l.JKS AT CLOSE OF BUSINESS, OCTOBER 1, 1924.
RESOURCES
(In thcusands of c'l ollars)
Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Total
:nos ten New York Phila.
Federal Raserve 3ank of
569,839 182,316 215,476 50,542 129,645 221,289 53,350 59,036 60,552 46,597 230,412 2,027,304
G-old with Federal Reserve Agents
207,750
4,231
7,170
1,938
1,668
2,341
2,500
3,630
1,020
3,186
1,125
980___1.4,772
Gold reclemption fund. with U~S.Treas. 4,983
held exclusively against
212,733 574,070 189,486 217,414
R. nctos
Gold set+,lement fund v'!i.th F.R.Boar.d 51,794
147,583 33.099 64,964
Gold c..a5 geld cer.tif. hald by banks 21, 312
168,~4~?457 13,265
Go1d
t7'
~-.
.'f2!E::~_gs>lcl reserve_~
Reserves other than gold
Total :reserves
Non-J~as~::n·ve cash
Bills dis~cunted:
St>c. by "J. s. Govt. obligat icns
Oth:;:r bills discounted
Total
bi~
ls discounted
B:L 11 s b o-o..e;~·rt i..'l cpen rr:a:r.l-cet
c:
u. .....
Govermnent securiti8s:
285,839
7,811
293,650
3,420
4,977
3,090
0,o67
10,649
52,210 131,936 223,789 57,480 6o, 056 63, 738
37,531 17,427 126,966 14,106 15,031 35,811
-(,490 76,313 10,010
3,182
13,623
81089
890,599 250,c42 300,643 103,364 156,903 427,073 81,596
17,262
3, 570
4,921
3,835
10,021
10,835
13,09 7
47,722 231,392 2,062,076
588,384
12,289 31, 783
394,779
7,079 33,C98
83,176 102,731 67,090 296,183 3,045,239
1,026
2,084
907,861 253,612 305,564 107,249 166,9;;_'4 437,953 94,693 84,202 lo4,815
12,524
2,136
1,912
1,958
4, 787
3,070
1,735
3,633
530
3,067
3,157
85,786
75,157 299.340 3,1}1,025
2,646
1,425
39,776
11,448
7,013
19 '771
6,667
8, 730
27,361
2,642 9,593
22,876 19!931
4,463
1~, 764
178
9,430
4go
7,668
1,103
3,958
4,507
12,277
104, 785
161,971
53,£14 18,461
74,ffl-- 1,347
26,438
Q
71 645
36, C91
25,518
3,059
24,227
4,378
9,608
2,254
3,158
4,427
10,061
4,478
16,784
11,567
266,756
36;8 73
16,936
qqL{
29.529
11,718
138,~
So~
1,038
26,796
11,029
4,902
136,394
46,020
749
25,426
5,277
5,115
38,229
18,398
1,191
2,811
991
1,090
1,_384
535
Goo 7,9CS
10,458
53,142 12,715 15,033
4,813
17,948
3,454
1,6}6
21..!' 307
8,407
1,121
1,834
19,469 42,056
6,492 17,163
37,663
397 J 762
140,532
!9 t 9.1 _jJ..:.___§. Govt. securities 38,863
187,316
31,452
61,742
4,993
3,009
81,548
34,350
27, 795
60,340
575,957
~
1, 750
Bonds
notes
Certificates of inc1ebtedness
Tr-e:::tsu~:y
All othe:r earning csset s
':r'otal earning assets
Unco1leotad items.
Bank p r-emi sa s
All other resources
TOTAL RESOURCES
57; 579
57,261
4,312
167
316,114
142,930
16,718
3,492
53,010 97,825
58,590 54,822
1,112
9,129
263
219
16,769
27,780
1,~
41,084
52,2 76
2,528
484
31,586 122,795 45,314 39,642 46,935
26,657 78,103 }4,030 14,458 38,651
8,264
2,875
2,527 2,989 4,595
744
1,879
1,017
5,001
138
42,334
88,691
27,003
1, 912
3,485
36,628
3,079
4,622
982,963
621,409
6o, o4c
26,511
416, 3f9 1;4041639 368,545 470,629 •205,356 233,554 652,651 173,898 146,822 197.925 151,316 4-35,0CG 4,8-61,730
St. 4257c
Released for publication Friday morning, October 3, 1924; not earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSI1"'ESS, OCTOBER 1,
1924.
L I A B I L I T I E S.
F0Cieral Reserve Bank of
F., R. notes in actual circulation
(In thousands of dollars)
Boston
New York Phila.
Cleve.
Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
201,267 3o4, 341 156,078 209,435 . 72,406 134,633 215,109 56,915 66,494 65,593 53,217 209,436 1, 744,974
Deposits:
n11embe1~
reserve account
bank -
Other Ctepcsit s
Tot§:_]_ deposits
D2farrcd availability items
Ca;Jj_ tal paid in
SDrpJ_-,ls
All
ct~~e:~
liabilities
'lWPii.IJ LIABILITIES
Ratic of total res0:rves to deposit
&:."lc F. R. note liabilities
cu;::J.bL.led, per cent
137,521
1,973
206
139.705
50,791
7,996
16,390
21w
s5s,z99 127,320 170, 16s 62,101 59,907 303,4o3 691243 49,'+69 791670 53,340 156,242 2,127,949
10,435 3 1 0\.:1}.
2,606 3,}~Li
5,557 14,872 3~764 2,961 2,610 1,975 3,339
56,542
J8,676
1,L~~L _ ___! 1 2:53_ _ .2:~? ___ 104
11029
481
320
354
235 4, 734
29,51~
833,060 131,348 1741007 66,223 b5,568 319,304 73,483 52,750 83,134 55.600164,315 2,214,002
120,446 1~,921
30,201 10,Ll·D2
59,929 19,927
1,662
369
49,859 48)260 18,460 71,272 32)800 15,}33 34,734 23,992 36,736
12,705 5;f>31 4~579 15j186 5,113 3,323 4,362 4,147 8,064
23,G91 11,672 c;9:JO 30,4,?6 10,072 /,434 9,496 7-,577 15,301
932
914 1,)6Ltl,zA
505 J,378
606 1,783 1,104
416,389 1,404,639 368,545 470,629
86.1
76.1
Contingent liability en bills
ptur.;hased for foreign
cm.·re sponCient s
5,053
8S.l
1,871
79-7
2,256
205,356 233,554 652,651 178,398 146,822 197,925 151,316 435,006 4,361,730
32.0
77.4
1,099
349
72.6
7C.S
2,874
.F.
R. notes
in
actual circulation
80.1
£87
FEDERAL RESERVE NOTES OUTST.ANDTI-;G .A1ID nJ ACTUAL CIRCULATION
F. R. notes out star..ding
F. R. notes held by b~lks
733
1,466
18,727
_.,l!
218,987
17,720
612,438 198,763 229$668
306,097 42,685 2-0,233
79,261 151,2':'4 .229,255 b3,5lQ 68,975. 71,;96
6,355 16,6ln 14,146 6,595 2,4b1 6,203
201,267
301+,341156,073 20~)~l.fJ5
72,406134,633 215,109
·----
557,664
111,964
220,915
1?,211
53~179
249,357 2,2}2,463
5,962 39,871 487,489
56,915 66,494 65,593 53,217 209,486 1,744,974
DISTRIBUTIOH O.F' 3ILLSAND U. S. CEHTIFICATES OF INDEBTEDNESS BY MATURITIES
Bills discounted
Bills bought i."l open ma1'ket
Certificates of incleoteciness
Within 15 Clays
16 to 30 days
31 to 60 days
155,256
52,103
26,276
18;333
48,200
34,949
61 to 90 days Ftrom.9l
dayths
o s~.x: mon s
29s043
7,630
25,~
-,(,472
72,760
24,505
Over
6
mcnths
Total
266,756
1)8,~1%
140,532
... ,;:;J.eased for publication Friday morning, Octooer ),
1924;
St.
not earlier.
4257c1 •
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, O~TOBER 1, 1924.
(In thousands of Ciolla:r.s)
Federal Reserve Agent at
Basten
New York
Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
RESOURCES
Fe~eral
Rese:rve notes on hand
Federal Reserve notes outstand.ing
Collateral security for Faoeral
Reserve notes outstanding:
Gol.:l a,.'1.d gold certificates
Gold reCiempticn fund.
C-ol:1 :fu..."ld -
Jr.
73,850
218.987
239,760 46,400 56,220
612,438 198,763 229,668
34,920 69,C90 238,420 26,100 18,952 29,013 15,307 65,500 913,532
79,261 151,274 229,255 63,510 68,975 71,796 59,179 249,357 2,232,463
35.300
14,450
158,000
238,532 7,800 8, 780
30,307 14,627 11,696
301,000 159,889 195. oco
14,556
331,505
3,500
9,985 13,052
+15,62:6
1,484
4,
541
13,927
2,865
3,192
4,747 8,145 5,645
1,
580,173
118,000
215,
644
41,000
44,500
27'
500
216,485
57,360
45,795
11,237
7,479
42,599 16,447 14,192
72,557
74 20,734
R. Boa:r.d
E:::.i.:;1.b::.e }:apex-:
.Amount required
Excess amctint held
TOTAL
28,719 21,629 7,966 9,660
7,338 6, 799 33,177 18,833
9.939 11,244 12,582 18,945
785 1,174 1,683 8,095
205,159
178,728
519,303 1,537,193 444,000 536,290 200,780 378,437 730,107 171,953 157,687 173,779 135,348 572,309 5.557,186
LIABILITIES
Net amcunt of Federal Reserve notes
raceived frcm Comptroller
cf the Currency
Collater.al rece ivec:l from
FaCieral reserve ba~k:
Gold
Elie;i ble paper
TOTAL
292,837
852,198 245,163 285,888 114,181 220,364 467,675 89,610 87,927 100,809
207,750
18,716
569,839 182,316 215,476
115,156 16,521 34,926
74,486 314,857 3,145,995
50,542 129,645 221,289 53,850 59,036 60,552 46,597 230,412 2,027,304
36,057 28,428 41,143 2$,493 10,724 12,418 14,265 27,040 383,887
519,303 1,537,193 444,000 536,290 -200,780 378,437 730,107 171,953 157,687 173,779 135,348 572,309 5,557,186
@FedFRASER