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STATEMENT FOR THE PRESS
c,.t 4205
>J •
.I
Federal Re:::;erve Bo:1r-0,
00tcber 30, 1924.
Released for public.ation
Fridaymorning, Oc.t. 31;
not earlier.
CONDITION OF FEDERAL RESEHVE BANKS
The C"-onsolidated staten.ent of c.ondi tion of the Federal reserve banks on Ortober
29, made publiC'· by the Federal Reserve Board, shows in,~reases of $45,700,000 in
holdings of aC'r.eptanC':es p~rC':hased in open market and of $l)f00t000 in Government se~urities, together with a dec.line of $700,000 in disC':ounted bills.
As a result of
these c-hanges, total earning assets went up $46,600,000 to $l,024,100,0CO. Federal
reserve notes in rir0ulation in0reased by $14,900,000 and total deposits by .
$15,900,000, 09.sh reserves remained unchanged, and Non-reserve l~ash in,·reased ·by
$300 ,ooo.
Increases of $4,100,000 and $4,000,000, respGc.tively, in holdings of dis0ounted
bills are reported by the Federal reserve banks of Chi0ago 8nd New York, while the
Ric.bmond bank shows a dec.line of $3,300,000 and Clevehnd and San Fran0i sr.o show
det~lines of $3,000,000 eal~h.
Relatively sms.ller r.hanges in di sr.ount holdings are reported by the remaining reserve banks.
All Federal reserve banks show larger holdings of ::,.('c.ept9.nC'es pun~-hased in open
market, With the exC'eption of Minneapolis and Ri~~hmond. The Fecler::l-1 reserve bantc of
New York reports the gre~ter part of the in0re~se - $24,6co,ooo, Boston shows an inl~rease of $4,ooo ,000, San Fram•.isco of $3,700,000, Cleve land of ~:3, 500 ,000, and
Chi0ago and Dallas eac.h ::m increase of $2,700,000. The System's holdings of U. S.
bonds inr.reased by $900,000 and of 'l'reasury notes by $500,000. Holdings of ('.ertifi('ates of indebtedness remained unchanged.
An increase of $20,4oO,OOO in Federal reserve note ('-irculi1.tion is shownfor the
New York reserve bank and of $1,700,000 for Cleveland. The Fedar:,l reserve b::mi.r of
ChiC'ago shows a Cler.line of $3,100 ;000 in Federal reserve note ci n~l.:cb.tion, Sm Franl~tsC':O a dec-line of $2,800,000, and Boston of $2,300,000.
A surr.mary of r.hanges in the principal assets :1nd li::1bili ties of the reserve
b :mks Cl uring the week and the year ending October 29, 1924, follows:
Ye<:>.r
_W0ek
To tal re serves .
Gold reserves
- $ 4oo,ooo
67,300,000
Total earning assets . .
Bills di sC':o-unt.ad , to tal • . .
Se0ured by U.S. Government obligations
Other bills dist~ounted . .
+ 46,400,000
700,000
500,000
200,000
156 '500 ,000
661,200,000
3 50 ' 200 '000
3ll' 000, coo
- $ 59 , 6oo, ooo
Bills bought in open rrn.rket
+ 45,700,000
+
10,700,000
U. S. Government ser.urities, total
Bonds • . . . . . . . . . .
Treasury notes . . . . . . .
Certifir.ates of indebtedness . .
+
+
+
1, 4oo ,oco
900,000
500,000
+
+
+
+
492,400,000
23,500,000
339' 100,000
129 '800 ,000
Federal Reserve notes in c.irr.ulation
+ 14, 9oo·,ooo
Total deposits
......... .
Members' reserve deposits . • .
Goverm1ent deposits
Otherdeposits . . . . . .
+ 15,900,000
+ 12,300,000
+ 5,100,000
l, 500,000
c.
45£ ' 200. coo
+
+
+
259,3CO,OOO
267,100,000
12,100,000
4,300,000
I! •
St. 4295a
Released for publi('la.tion Friday rr:orning, Oc-.tobcr 31, 1924.
RESOURCES AND LIABILITIES
OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
Or.t. 29, 1924 0\"'t. 22, 1924 Qr.t. 31,1923.
RESOURCES
Gold with Federal reserve agents • .
. .
Gold rederr~tion fund with U.S. Treasury .
Gold held exl"'-lusi vely against F. R. notes
Gold settlement fund with F, R. Board , •
Gold and gold c.ertifi<'-ates held by banks .
Total gold reserves .
Reserves other than gold
Total reserves . .
Non-reserve ('.ash . .
Bills disc-.ounted:
Sec., by U. S, Government obligations
Other bills disc.ounted .
Bi 11 s bought in open market
U. S, Government ser.urities:
Bonds . . . .
Treasury notes
Certific.ates of indebtednass .
.
Total U. S, Government seC'Uri ties
All other earning assets .
Total earning assets
5% Rederr~tion fund - F.R. Bank notes •
Unc.oller.ted items .
Bank premi se s . . . . .
All other resourres
4
••
TOTAL RESOURCES . .
L I .A B I L I T I E S
F, R. notes in a~tual c.irc.ulation
F. R, Bank notes in c.irc.ulation - net
Deposits:
Member bank - reserve al~l~Ount .
Government .
Other deposits .
•
f.
41
'
2,006,200
29,905
2,085,682
2,o4o,466
2,036,105
2,147,153
580,869
422,491
607,378
400,735
609,186
354,739
3,043,826
87,768
3,044,218
~,4o3
3 ,111,078
80,067
3,131,594
42,300
3,131,621
3,191,145
42,037
39,152
75,471
147,094
75,945
147,295
425,650
-----
Total bills dis0ounted
•
2,004,220
36,246
II
Total deposits
Deferred availability items
Capital paid in .
,
Surplus . • .
.
.
.;Ul other liabilities . . .
TOTAL LIABILITIES
----
c.
458,150
222,565
215,404
223,24o
883,800
169,659
204,698
41,702
398,429
144,069
4o,854
397,931
144,042
18,213
59,361
14,263
91,837
2,007
582,827
2,007
1,024,176
977,733
1,180,652
611,709
60,724
26,766
669,125
6C,322
26,450
28
611,271
55,943
_13,_<2_76
4,897,269
4,907,288
5,091,267
1, 766,622
1,751,701
2,224,865
523
2,162,347
28,266
27,351
2,149,992
23,197
28 ,859
1,895,265
40,334
23,061
2,217,964
2,202,048
1, 958 ,66o
566,510
111 '953
220,915
13,305
6071786
111,911
220,915
12,927
555,914
109 '726
218,369
23,210
4,897,269
4,907,288
5,091,267
584,200
----
Ratio of total reserves to deposit and
F. R. note liabilities r.ombined
Contingent liability on bills purc.hased
for foreign rorrespondents .
. ,
.
61,~71
317
76.3%
24,070
20,566
44,102
.,
R::laased
St. 4295b
for publi\"•ation f.riday morning, 0<-.tober 31, 1924; not earlier.
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, OC'IDBER 29, 1924.
RE S 0 UR CE S
Federal Reserve Bank of
Gold with Federal Reserve Agents
Gold redemption fund with U.S.Treas.
(In thousands of dollars)
Boston New York Phila. Cleve. Rich. Atlanta Chic.agp St.Louis Minn. Kans. Cy. Dallas San Fran. Total
544,786 177,628 216,802 62,177 127,973 211,193 55,376 66,079 63,245 48.350 225,189 2,004.220
205,422
36,246
1,504 1,719
4,116
4,294 2,901
2,008
1,916 2,075 3,447
9,127
589 2, 550
Gold held ex<--lusi vely against
F. R. notes
Gold settlement fund with F.R.Board
Gold and gold <'ertif. held by banks
209,538 . 553,913 181,922 219,703 64,093 130,04S 214,64o
51,362 163,600 31,864
59,743 31,094 17,228 99,493
21,118
189,071 27,605 20,145 15,971 7 794 82,371
57,384 66,668 65,795 49,854 226,908 2,04o,466
26,545 16,612 37,266 11,658 34,4o4 580,869
422,491
4,072
7,853 30,536
9,364 6, 591
Total gold re~£rves
Reserves other ~. an gold
282,018
9,755
906,584 241,391 299,591 111,158 155,070 396.504
2,467
20,459
7,947 11,201
4,933
5. 746
93.293 89,871 107,133
2,808
1,127
9,541
69,365 291,848 3,043,826
87,768
8,215 3.569
Total reserves
Non- reserve ~ash
Bills discoilnted~
Secured by U. S. Govt. obligations
Other bills dis~ounted
291,773
3.666
927,043 243,858 305,337 116,091 163,017 407,705 102,8345 90,998 109,9Ul
1,819 3,799
14,368
2,082
5,528
581
3,155
1,953
571
77,580 295,417 3,131,594
3,144
42,300
1,634
Totd bills disc-:ounted
Bills bought in open market
U. S. Government securities+
Bonds
Treasury notes
Certifi~ate s of indebtedness
J
4,356
2,333
6,689
20,396
7,645
26,886
3,022 10,664 4,816
21,012 2l ,390 14,783
176
6,692
808
6,160
761
6,811
1,515
9,447
75,471
147,094
19,284 20,786 34,531
8,120 18,247
24,034 32,054 19,599
6,249 22,840 9,037
6,868
1,860
6,968
8,532
7.572
11,209
10,962
21,934
222,565
215,4o4
1,834 1,122
1,653
24,466 19,469 42,056
6,492 17,163
9,107
41,702
398,429
144,069
60,341
584,200
2,007
14,981 12,921
18,237
6,363
33,218
86,980
13,806
6,980
1,037
26,796
11,029
4,902
749 . 5,115
136,394 25,426 38.229
46,020
5.277 21,410
1,190
2,811
991
1,311 14,192
6oo 7,997
1,391 53,143 12.715 15,533
3,454 4,788
590 17,748
Total U.S. Govt. securities
All other earning assets
38,862
187,316 31,452
1, 750
4,992
3,292
Total earning assets
Un~ol1ec.ted items
Bank premises
All other resources
65,947
53,626
4,312
191
307,514 6o ,6o6 103,787 39,523
136.931 55.962 50.979 53.570
17,043 1,112 9,129
2,528
222
254
9,890
328
TOTAL RESOURCES
c.
64,754
85,083
16,769 28,318
35,226 27,795
250
7
33,575 139.977 45,4o5 37,053
26,303 79,136 33,989 15,390
2,875 8,264 2,742 3.0~6
2,011
14o 4;415
637
50.976
41 ,4o8
4,596
829
46,576 93,237 1,024,176
29,430 34,985 611 t 709
1,912 3,165
6o ,724
26,766
3.335 4,514
419,515 1,412,789 362,447 472,641 213,753 231,580 641,247 187,063 151,473 209,832 160,467 434,462 4,897,269
Released for publh""ation Friday morning, Oc-.tober 31, 1924; not earlier. ·
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS, OCTOBER 29, 1924.
L I AB I L I T I E S
st. 4295r-.
(In thousands of dollars)
Federal Reserve Bank of
F. R. notes in a~tua1 ~ir~u1ation
Deposits:
Member bank - reserve G.l""e-ount
Government
Other deposits
Boston New York Phila. Cleve.
Ri~h.
Atlanta Chi~ago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
198,164 327,393 152,619 211,672 77,654 135,167 206,596 56,307 70,389 68,500 56,303 205,858 1,766,622
1l~2,
857,562 127,466 170,614 63,738 59,550 310 '957
1,627
3,610 1, 594 1,595 1,368
5,982
113 . 1,139
144
1,294
16,042
477
To tal deposits
Deferred avai1abili ty
Capital paid in
Surplus
All other liabilities
143,714
879.586 129,570 175,518 65,476 61,258
113,612 49,539 47,963 52,148 20,234
30,196 10,403 12,705 5,883 4,532
59,929 19,927 23,691 11,672 8,950
1,092
920 1,339
2,073
389
i
terns
TOTAL LIABILITIES
Ratio of total reserves to deposit
and F. R. note li'l.bilities
~ombined, per ~ent
333
1,185
196
52,909
3,011
16,390
327
75,221 52,258
2,824 1,677
1,504
332
36,258
2,094
800
55,827 160,563" 2,162,347
23,266
2,201
2, 509
4,911
27,351
399
79.549 54,267 39,152 58,427 167,983 2,217,964
566,510
73,938 35.506 14,647 3 7 I 727 32,174 36,063
15,181
4,344 4,152 8,056
111,953
3,307
5,133
30,426 10,072 7,484 9,496 7,577 15,301
220,915
1,201
496
613 1,834
1,592
13,305
1,379
313,464
419,515 1,412,739 362,447 472,641 213,753 231,580 641,247 187,063 151,473 209,832 160,467 434,462 4,897,269
76.8
Contingent liability on bills
pur~hased for foreign
C'\orrespondents
86.4
78.9
81.1
78.4
75.7
73.0
79.0
78.6
6,318
2,429
2,929
1,427
1,102 3,731
1,227
901
1,152
951
1,903
24,070
FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTU.AL CI RCUL.ATION
614,665 197,116 232,345 86,811 153,298 224,881 63,337 73,287 75,009 63,571 249,773 2,256,452
287,272 . 44,497 20,673
9,157 18,131 18,285 7,030
2,898 6,509 7,268 4},915 489,830
F. R. notes outstanding
F. R. notes held by banks
222,359
24,195
F. R, notes in
198,164 327,393 152,619 211,672 77,654 135,167 206,596 56,307 70,389 68,500 56,303 205,858 1,766,622
DISTRIBUTION OF BILLS, MUNICIPAL WARRANTS AND U. S. CER'tiFI CATES OF INDEBTEDNESS BY MATURITIES
Within 15 days
16 to 30 days 31. to 60 days 61 to 90 deys
From 9 1 days
Over 6 months
Total
to 6 months
27,271
124,903
42,266
19,695
7,993
222,565
42,114
52,503
36,66o
5,69s
78,429
215,4o4
68,266
1,416
18,591
144,069
55.796
7
7
a~tual
~ir~ulation
Bills dise'\ounted
Bills bought in open market
u. s. Cartifi~::~.tes of indedtedness
Munir-ipa1 W'-lrran ts
c.
st. 4295d.
Rale::1.sad for public.ation Friday morning, October 31, 1924; not earlier.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, OCTOBER 29, 1924.
(In thousgnds of dollars)
Federal Reserve Agent at
RESOURCES
Faderal Reserve notes on hand
Federal Reserve notes outstanding
Co11~ter~l security for Federal
Reserve notes outstanding:
Gold and gold ~~rtificates
Gold redemption fund
Gold fund - F. R. Board
Eligible paper.AJnount required
Excess amount held
TOTAL
Boston
New York
Phila.. Cleve.
Rich. Atlanta Chicago St.Louis Minn. Kans. Cy .. Dallas San Fran.
Tot9.1
67,150
222,359
233.760 46,16o 50,870 32,565 69,715 238,920 25,500 16,774 27,493 20,667 69,500 899,074
614,665 197.116 232,345 86,811 153.298 224,881 63,337 73,287 75,009 63,571 249,773 2,256,452
35.300
12,122
158,000
213,531
7,800 8,780
3,500
9,985 13,052
14,556
306,504
4,382 4,473
5.548 4,391 1,027 3,885 3',294 19,418
30,255 11,939 13,022
113,756
301,000 157,889 195,000 57.795 120,000 205,6~5 41,000 52,000 59.360 30,500 205,771 1,583,960
16,937
10,148
69,879 19,488 15,543 24,634 25,325
41,045 3,ijo9 19,71~ 9,740 4,805
13,688 7,961
41,053 20,649
7,208 11,764 15,221 24,584
513 3,695 3,348 7,549
252,232
165,672
522,016 1,504,135 443,801 535,278 215,927 381,116 729,735172,823 163,861181,206 151,157 576,595 5.577,650
LIABILITIES
Net amount of Federal Reserve notes
received from Comptroller
of the Currency
289,509
received from
Federal reserve bank:
Gold
Eligible paper
548,425 243,?76 283,215 119.376 223,013 463,801 88,837 90,061 102,502 84,238 319,273 3,155,526
Col1~tera1
TOTAL
c.
205,422
27,085
544,786 177,628 216,802 62,177 127,973 211,193 55.376 66,079 63,245 48,350 225,189 2,004,2~
110,924 22,897 35,261 34,374· 30,130 54,741 28,610 7,721 15,459 18,569 32,133 417,90~
5~,016 1,504,135 443,801 535,278 215,927 381,116 729.735 172,823 163,861 181,206 151,157 576,595 5.577.6~
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