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STATSVIENT FOR THE PRESS St. F e d e r a l Reserve Board October 4, 1919- Released, f o r p u b l i c a t i o n Sunday morning, October 5, 1919 i not earlier# CONDITION OF FEDERAL RESERVE BANKS Continued i n c r e a s e s i n the h o l d i n g s of war p a p e r and of o t h e r d i s c o u n t s and c o r r e s p o n d i n g i n c r e a s e s i n d e p o s i t s are i n d i c a t e d i n the F e d e r a l Reserve Board's weekly bank 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 October 3 , 1919* Further t r a n s f e r s of g o l d from the c o n t i n e n t t o the Bank o f England v a u l t s a r e r e f l e c t e d i n a d e c r e a s e i n the amount o f g o l d i n c u s t o d y i n f o r e i g n c o u n t r i e s and the a d d i t i o n of 29-5 m i l - l i o n s t o the amount of g o l d r e s e r v e s . H o l d i n g s of war p a p e r went up SI*7 m i l l i o n s , t h o s e o f o t h e r d i s c o u n t s about 5 2 m i l l i o n s , w h i l e a c c e p t a n c e s an hand show a f u r t h e r d e c l i n e of 15*8 m i l l i o n s - War pa* p e r h o l d i n g s of t h e Chicago and M i n n e a p o l i s banks i n c l u d e 63*8 m i l l i o n s of paper d i s counted f o r o t h e r F . R. banks, as a g a i n s t 7 0 * 2 m i l l i o n s the week b e f o r e , w h i l e a c ceptance h o l d i n g s of the San F r a n c i s c o bank are i n c l u s i v e of 1 2 . 6 m i l l i o n s of a c c e p t a n c e s bought from o t h e r F . R. banks. c r e a s e of 1 2 . 1 m i l l i o n s , Treasury c e r t i f i c a t e s on hand show an i n - the i n c r e a s e r e p r e s e n t i n g i n p a r t new i n v e s t m e n t s i n 1 - y e a r 2 per c e n t c e r t i f i c a t e s t o s e c u r e F . R. bank n o t e c i r c u l a t i o n , i n p a r t a l s o tempo- r a r y p u r c h a s e s of c e r t i f i c a t e s from non-member banks. The week saw i n c r e a s e s of 1 7 - 6 m i l l i o n s i n government d e p o s i t s , i n members* r e s e r v e d e p o s i t s , and of 92*3 m i l l i o n s i n n e t d e p o s i t s . n o t e c i r c u l a t i o n shows an i n c r e a s e f o r t h e week of 5 2 - 8 m i l l i o n s , of 2 , 7 0 8 . 2 m i l l i o n s b e i n g the l a r g e s t on r e c o r d . of 3^*5 m i l l i o n s F e d e r a l Reserve the p r e s e n t t o t a l Gold r e s e r v e s show a n e t g a i n f o r the week of 17.U m i l l i o n s , w h i l e , t o t a l c a s h r e s e r v e s w e n t up about IS m i l l i o n s . banks 1 r e s e r v e r a t i o , liabilities, The b e c a u s e of the c o n s i d e r a b l e i n c r e a s e i n b o t h d e p o s i t and n o t e shows a d e c l i n e from 5 1 t o U9.7 p e r c e n t . Ite 1333b d f o r p u b l i c a t i o n Sunday morning, October 5, 1919; n o t e a r l i e r . STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER 3 , October 1 . 1 9 1 9 September 2 6 . 1 9 1 9 R E S O U R C E S $ 2 ^ 2 , 4 0 5 , 0 0 0 $239,168,000 Gold c o i n and c e r t i f i c a t e s 516,335,000 502,506,000 O k - i d s e t t l e m e n t f u n d - F . R« Board C-olu 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 e d e r a l R e s e r v e Agents Gold redemption f u n d Total gold reserves Legal teudsr n o t e s , s i l v e r , e t c . 2,205,511,000 2,187,505,000 Total reserves , , ( S e c u r e d by Government war o b l i g a t i o n s Mils d i s c o m t e a ( A n c t h e r i H . l l s bought i n open m a r k e t T o t a l t i l l s on hand •J* S. Cover, m o n t bands Uo S" "Victory n o t e s U, S . C e r t i f i c a t e s o f I n d e b t e d n e s s A l l other earning a s s e t s Total earning a s s e t s Bank p r e c i s e s Gold i n t r a n s i t or i n c u s t o d y i n f o r e i g n c o u n t r i e s U n c o l l e c t e d i t e m s and o t h e r deductions f r e e g r o s s d e p o s i t s •yl Redemption f u n d a g a i n s t F» R. bank n o t e s A l l other resources TOTAL RESOURCES L I A B I L I T I E S Capital p a i d - i n S'urp] us Government d e p o s i t s Dae to members,- Reserve account Deferred a v a i l a b i l i t y items 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 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 A l l other l i a b i l i t i e s TOTAL LIABILITIES R a t i o o f 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 Ratio^of^gold. 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 t 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 2SS 46,355,000 2,632,983,000 27,097,000 137,000 251,081,000 • 2,503,088,000 13,184,000 13,146,000 908,310,000 11,897,000 80,246,000 907,650,000 11,503,000 827.4Q4.000 10.246.000 5,782,131,000 • Ul9,6o5,000 IwM'M 2,077,371,000 81,087,000 2,634,576,000 * 56,514,000 202.000 2,102,028,000 704,046,000 2,679,000 1?, 2 6 2 , 0 0 5 4,899,386,000 85,296,000 78,903,000 81,087,000 61,276,000 'IK 28,289,000 8.998.000 5,631,890,000 85,350,000 78,832,000 1919* October 4, 1918 $373 , 2 5 5 , 0 0 0 S 27,095,000 136,000 263,148,000 861,955.000 St.628a 2,541,724,000 1,134,000 197,359,000 JISI 2,310,308,000 2,708,186,000 2,655,354,000 2,431,004,000 30.995.000 5,782,131,000 28.978.000 5,631,890,000 37,732,000 4,899,386,000 241,937,000 49.7 5 9 - 1 fo 239,^51,000 *Includes one-year Treasury n o t e s 51*0 $ 60.8 $ 40,305,000 5 1 - 5 i3 62-3 $ Released, f o r p u b l i c a t i o n Sunday morning, October 5, 1919; n a t e a r l i e r . St.628b WEEKLY STATEMENT OF BESOUBCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER 3 , 1 9 1 9 R E S O U R C E S ( I n thousands o f d o l l a r s . ) B o s t o n New York P h i l a . C l e v e l . Ricbm. A t l a n t a Chicago S t , L o u i s Minn. K a n s . C y . D a l l a s San F r a n . T o t a l 7,003 153,957 1,152 15,229 2.319 7,880 24,054 3,465 8,310 87 6,987 11,962 242,405 Gold c o i n and c e r t i f i c a t e s 45,160 127,380 31,142 52,423 30,070 $,864 109,391 12,912 26,469 25,782 5,171 %1,571 516,335 Gold S e t t l e m e n t Fund - F.R.Board Gold 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 4 : 1 2 « 74,166 287,654 73,946 134,536 34,096 45,576 272,036 49,553 34,506 35,961 19,918 104,450 1,166,398 Gold w i t h F . R. Agents 11,794 25,000 13,539 825 5.165 6,436 21,118 5,693 5.693 3,936 4,0ffi 2,524 1,143 101,252 Gold redemption fund 37,431 164,135 2,135,282 Total gold reserves 146,072 633,955 128,490 211,942 76,986 72,676 439,557 76,741 76,161 7 1 1,802 192 70,229 66 ' 4 3 6 5,988 5,942 52,260 241 893 238 1.111 1,060 L e g a l tender n o t e s , s i l v e r , e t c . 71,572 39,233 164,327 2,205,511 152,014 686,215 128,731 212,835 77,224 73,787 440,617 82,729 7 6 , 2 2 7 Total reserves' B i l l s discounted: S e c u r e d by Government war obligations (a) 122,745 6 7 4 , 0 1 0 1 7 5 , 2 4 3 1 1 9 , 2 6 3 75,099 73,667 181,605 59,685 35,042 48,8)8 34,924 54,045 1,654,166 9,080 72,578 21,290 21,464 20,312 31,110 52,749 32,473 12,572 45,480 24,118 18,545 361,771 A l l other 621 766 80,07? 326,667 B i l l s bought i n open market ( b ) 41.675 87,682 645 35,588 6.022 5.982 38,557 9.106 19,944 173,500 834,270 197,178 176,315 101,433 110,759,272,911 101,264 67,558 94,939 59,808 152,669 2,342,604 T o t a l b i l l s on hand 1,257 1,385 1,094 1,234 375 4,477 1,153 116 8,867 3,966 2,632 27,095 U. S . Government bonds 539 w 8 50 ~ 5 — 73 ~ ~ ^36 U. S , V i c t o r y n o t e s 21,731 69,471 28,682 24,704 10,560 13,464 4o,84o 17,068 8,265 12.124 7,700 8,539 263,148 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 195,778 905,048 227,245 202,113 113,227 124,603 318,226 119,485 7b,012 115,930 71,474 163,840 2,632,983 Total earning a s s e t s 13,184 400 402 2,089 476 2,936 691 447 359 500 890 Bank p r e m i s e s 3,994 Gold i n t r a n s i t or i n c u s t o d y i n 46,355 foreign countries 46,355 U n c o l l e c t e d i t e m s and other 73,687 201,352 76,938 66,326 68,879 37,374 105,062 57,873 21,324 75,421 37,613 &0,106 861,955 d e d u c t i o n s from g r o s s d e p o s i t s 5$ Redemption f u n d a g a i n s t F . R . 11,897 485 892 525 688 1 , 4 9 6 4o4 740 378 1,072 2,703 1,400 1,114 bank n o t e s 10,246 758 _ 8 6 l 1.444 1,016 241 578 2,216 A l l other resources 313 1,237 JSL % TOTAL RESOURCES (a) Includes b i l l s discounted f o r other F.R.bariks, v i z . (b) I n c l u d e s b a n k e r s ' a c c e p t a n c e s bought from o t h e r F . R . b a n k s ; Without t h e i r endorsement 424,953 1,847,983 436,151 483,973 261,197 237,169 869,783 262,096 174,079 264,762 149,922 370,063 5,782,131 56,790 63,790 7,000 12,607 12,607 JcL&C . Capital p a i d - i n Surplus Government d e p o s i t s Due t o members - R e s e r v e account Deferred a v a i l a b i l i t y items 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 government c r e d i t s Boston 7,034 5,206 9,436 107,305 55,359 Total gross deposits F.R.notes in actual circulation R.barik n o t e s i n c i r c u l a t i o n net l i a b i l i t y A l l other l i a b i l i t i e s 5,672 177,772 211,341 21,248 2,352 - i s • i U f l » ' 5:307 i s % % 5:911 i : ™ wiSs 3:92s M j S 43,819 6,912 6,104 t S F " S i 2,539 14.55S 34:^ M:*! 3.662 2,814 968,698 180,278 2 0 3 , 9 5 4 120,065 6,188 61,348 46,103 9,739—.. 2? 7 ?_• 88,521 3 4 8 , 4 7 3 1 1 7 , 3 6 7 3,037 4,205 54,793 15,564 3,901 3,957 5,268 77,004 55,500 2.241 3,615 2,320 76,803 141,387 3,324 5,059 Total 85.350 " •2,029 "• - 4,578 28,099 19,898 691,968 2,141 7,466 17,913 81,087 78,832 2,515 5,450 144,678 101,011 1 , 7 6 5 , 8 6 3 77,433 133,525 2,634,576 56,79s 215,429 2,708,186 761,705 213,801 241,221 121,695 128,384 457,059 120,420 83,406 96,927 241,937 8,850 16,510 7,602 16,980 9 , 3 2 4 39,030 12,818 9 , 9 0 9 2 1 , 3 3 5 26,631 30,995 2,322 51,700 1,610 1 , 0 1 4 911 1,261 3,433 1,200 l,4l4 10,913 2,368 2 , 1 9 7 4 3 6 , 1 5 1 4 ^ w " 2 6 1 , 1 9 7 3 3 7 . 1 6 9 S69.7S3 262,096 1 7 4 . 0 7 9 = 6 4 , 7 6 2 149,922 370,063 5,782,131 TOTAL LIABILITIES M E M O R A N D A 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 D i s c o u n t e d paper r e d i s c o u n t e d w i t h o t h e r F , R* banks 19,905 17,625 63,790 17,340 8,920 FEDERAL RESERVE BOTES OUTSTANDING AND IN ACTUAL CIRCULATION. E . R. n o t e s o u t s t a n d i n g EJEl. n o t e s h e l d b^ bank 8 f 7 - ^ 1 3 V . 3 i 7 " a i r e rtr-'sqc B » U , " ^ o p = n market 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 4 i 20, S50 : 1|; 7 8 | " 9 : ^ 3 . ^ 1 8 7 -^ 4 % 7 r . e l e a s e d f o r p u b l i c a t i o n Sunday morning, October 5, 1513- no t earlier St,62Sd STATEMENT OF FEDERAL RESERVE AGENTS*'ACCOUNTS AT CLOSE OF BUSINESS OCTOBER 3, I 9 I 9 . (In thousands of d o l l a r s , ) FEDERAL RESERVE NOTES.: Received from Comptroller Returned to Comptroller Chargeable t o Jr. R, Agent In hands of F, R, Agent I s s u e d to F,R« bank l e s s amount r e t u r n e d to F,R, Agent for redemption Boston New York Phila> C l e v e l . 419,800 1,789,460 466,860 423,680 259,600 257,140 740,800 24s,750 142,280 181,720 111,240 33S,760 5,380,120 155x241—S24^ggo_205,i46_i4q^82Z_iQ8,67i 74,904 225.269 92,453 45,668 71,362 41.892 99,346 2,085,335 264,553 42,500 222,053 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold coin and c e r t i f i c a t e s on hand 965,380 261,314 282,783 150,929 182,236 515,531 156,327 96,612 110,358 69,34s 239,414 3,294,785 126,000 34,860 28,820 24,528 $0,535 34,720 18,310 11,530 7,890 9,770 6,200 395,663 839,380 226,454 253,963 126,401 131,701 480,811 138,017 85,082 102,468 59,578 233,214 2,899,122 183,740 4,000 13,052 2,622 2,654 30,125 Gold redemption fund 14,166 13,914 15,557 14,411 Gold Set tlement Fund - F.R,Board 60,000 90,000 58,389 90,000 E l i g i b l e paper, minimum required Total AMOUNT OF ELIGIBLE PAPER DELIVERED TO F.R, AGENT Richm, A t l a n t a Chicago S t , L o u i s Minn* Kansas C y . D a l l a s San Fran. T o t a l 2,500 2,096 2,076 8,812 8,831 1,601 3,103 242,248 12,596 93,608 32,000 4i,ooo 263,224 42,931 18,500 34,360 ..7,984 91,854 830,542 147,887 551,726 152,508 119.427 222,053 839,380 226,454 253.963 126,401 131,701 480,811 138,017 85,082 102,468 59,578 233,214 2,899.122 173,500 833,652156,749 173,964 95,037 102,791 272,793 101,264 60,952 94,939 59,808 139,194 2,264,643 92,305 86,125 208,775 88,464 50,576 66,507 39.660 128,764 1,,732,724
@FedFRASER