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STAT:EIYIENT FOP. THE P:i.ESS
St. 42l.!j
Federal Reserve Board,
Se}Jternber 25, 1924,
Release~ for publicaticn
Friday morning, Sept·~ 26;
not earlier.
CONDITION OF FEDERAL RESERVE BANKS
The consoliclated statement of c cncl it ion of the Fcideral reserve banks on September 2l+, macle public by the Fe0e:ral Reserve Boa:rd 1 shows an increase of $1,900,000
in holdings of 0.iscountecl bills, together with decreases of $7,300,000 in holclings
of acceptances pl1"Chased in open market, of $44,100, OOD in Government securities, and
of $5, COO, 000 in all other earning assets. As a result of these changes, total eaming assets were $54,500,000 below the level rep·orted a week ago. Fe(leral reserve
note circulation declined by $4,800,000, cash reserves by $9,400 1 000, and total deposits by $101,300,000.
Increases of $2,200,000 each in holdings of discounted bills are reported by
the Boston and San .Francisco banks and of $1,800,000 by New York. The Federal
Resarve Bank of Dallas shows a decrease of $2,800,000 in its holdings of discounted
bills, while the :remaining banks report relatively small changes in this item.
Holdings of paper secured by U. S. Govern~nt obligations increased by $5,900,000
to $89,500,000. Of the latter amount,$77,600,000 was secured by Liberty ar.Cl other
U.s. bonds• $lO,lOO,COO by Treasurynotes, and ~1,800 1 000 by certificates of inde btednas s.
Holdings of acceptances purchased in open market by the Fecleral :reserve banks
of New York end Chicago were $6 1 000,000 and $1,300,000 respectively smaller than a
week ago, Holdings of U, s. bends inc:reaeed qy $1,100,000 1 while those of T:reasury
notes decreased by $100,000 and of ce:rtificates of i~debtedness by $45 1 10C,OOO, the
reduction in the latter item :representing fo:r the most part special certificates
issued by the Government to the New York and. Boston :r.est:J:rve banks en the pr<:lceding
report elate to provi(le funds pending collection of the September 15 installment of
income taxes.
An increase of $4,000,000 in Federal reserve note circulation is shownfor the
Federal reserve Bank of Cleve+.ancl~; while the Philadelphia bank shews a d.ec:r.ease of
$3,40o,OOO and Chicago a d.ecr0ase of $2,300,000. Gol<'l resa:rves declined by
$12,300,000 during the week, B.eserves othex- than golcl incraased by $2,900,000, and
Non-reserve cash declined by $1,400,000.
A sumnary of changes in the principal assets and liabilitias of tha reserve
banks <luring the week and the yea.r ending September 24, 1924, follows:
Inc:rease
or
decrease
Week
Total reserves • .
Gold reserves • •
.... ..
..
. .. ... ..
Total earning as sets • • , •
. ,
Bills discounted, total
• • • • . . ,
Secured by U. s. Gove:r.nrnent obligations
Other bills cliscountall • .
...
Bills bought in open market
U.
s.
Government securities, total
B ond.s . . , • • . . • . • .
Treasury notes . • . . . . . . .
Certificates of indebtedness . •
..
Federal Reserve notes in circulation •
Total deposits • • • • • • .
Mernbe:t·s' reserve deposits
Gove rrunen t d ep os its • • •
Other cleposits • • . . • .
...
..
...
.....
Year
- $9,400,000
- 12, 300, 000
$36,700,000
47,400, oco
- 54, 500, coo
4,000,000
193' 000' oco
602,100,0CO
312,600,000
289 1 5001 000
7,,300, 000
80,200,000
- 44, 100 J 000
+ 1,100,000
lCD, 000
- 45,100,000
+ 432, 700,0CO
-. 4,800,000
513,000,000
- 101,300,000
- 140,900,000
+ 4o,6oo,ooo
1,000,000
+ 265, 800, coc
+ 263' 500, ooc
9,300,000
+
6,6oo,ooo
+ 1,900,000
+ 5,900s000
+
15,600,00J
+ 331,500,000
+ 135,600,000
c.
during -
I
26, 1924j not earlier.
Released for publication FJ.oiday morning, ScrtdrdL,:r
RESOUBCES AliD I.,I A'3IJ..JITIICS
OF THE T1tELYE FE'Di:~RAL 2..::3E:hVE .flfu..fFS COl;lB UFD
(In thousam~s of 0ol1a:rc~)
Se_}2t_ 2LJ:.s._]S_g!J.
~!-'llt- 1924 .§~.t_d_§_,___l<)_g}
RE S 0 URCE S
Go lei with Fecte :r.al :r as tol'VC ~en t s • . • •
Golc'l redempticn funcl Viii th U.S, T:r:Jasu:ry •
Go10_h~ld
exclusively ar:[\inst _y. R! not.~..!!.
Gold settlement fund with F. R. 3oa:r.d
Golc'l and. gold certificates held by br:t.nks
Total gol<'l :r.ese:rves . , . • . . . • .
Rose:rves ot:1er ·than gold . .
Total :reser.v0s
•
•
1
.
1
•
f
1
•
I
I
f
I
I
•
'
Non-reserve cas:1 . • . . . • • . • . . •
Bills discounted:
Sec. by U. S. Gov~:r.nment obl igaticns •
Other bills.discount.:Jd ••
Total bills d iscounte(l
Bills bought in open rna:rket
U, S. Governm:.mt securit ids:
Boncls . . . . . _ . . . . . .
Treasury r.otes • . . . . . . •
Certificates of indebtedness
...
'
•
I
-: - o·q 4o6
Y-l-. 686
----··) o6 1o, 09')c.
c.,
'-1·.1'
259 ~ 863
257,967
99,212
9~
37,061
397,753
139 7'02
----574,59S
•'
R.
BI
371S·2~
74~~48
402, 11.a
_.3_9,Sb7
8u2,003
172,124
,,! . 2
c:~·1 ; '+0
-
35:951
39 7:563
661275
4,148
18~_915
----·-
6us. Tc3
91,885
_ _)17
___6,9_2~
1,126,334
28
616' 211
55,023
13,717
598,345
..
-~~~11
4,812, 1t~3
775,917
59' 672
26,464
---··5,054, e66
...
1, 729,8 59
1,734,666
2, 2l+-7' 8}0
492
2,120,331
46,926
2,261,255
6,339
1,&51, 790
56,279
23.625
--~2L233
2, 195~b82
~)40 . 929
2,297' 177
676,050
112,032
220,915
~ ') 026
.lc,
Bank notes ,
L I T I E S
698
982,858
60~026
TOTAL RESOURCES •
L I A
.
928,355
_._._assets
Total earning
55; Redempticn fund - F,
Uncollected items ,
Bank p:r.emises • , • .
All other. r.esou:r.ces • .
6',
... . ' ..)7 04
___1_?.:~_~_9 j 9
3,061,493
83>601
_!]4,3_66
1 .9-97
------
___
270
89,515
- 170! 348
1J-0
All other earning assets
~2, 075'
- 53,919
3,165,lll2
44,543
j
Total U. ~.Qye:rn_~:Ls<:Jg_~:r:it_h,s .
___36, ~33
60};448
_d,__
_____
7 99,623
3, o£)9, 163
36,852
3, 156,015
43,191
0., I '-fh
2,0Sl,')b5
__ 531_p3
2,115,293
6'tJ. '0'h7•
__l~~ ~-"h4_
3,116: Go4
_ _76
_L:::_:...._
OCJ4
2 I Q78
.) . I 67'.)
J,._
.F'. R. notes in actual ci:r.culation
F. R. 3ank notes in circulation - net •
Deposits:
Member. bank - :reserve account .
Gove:rnm<:;nt . . .
Oth 3 :r d 8'f OS its • .
..
. ..
Deferred a'Tallabil'l ty itcr,:s
Capital paicl in . • . , . .
Surplus . • . . . . . .
All other. 1 iab il it ie s . . . . . .
TOTAL LIABILITIES •
-----111,9-16
220,315
12 . 562
--·----·4 ,812,14-3
-----·5, 078' 259
_ _22
_.!_
_
004
.
1 I q30 I
~
073
550,527
109 '657
21& '369
21,311
-N--~-·-·~--
-··-----
5 ,054,Sb6
5;078, 259
Ratio of total :rese:rvc:s to deposit and
F. R. note liabilities combined • . ,
SO. 4C';a
7S •57:;
76. 45;
Contingent 1 iabil ity en bills purchased.
for. foreign c orre sp ond Gnt s . . . . .
19,692
20,959
33,794
c.
PeJ.ease~ fo:r. pnblicaticn Friday rno:r.ning, September 26, 1924; not earlier.
RESOURCES AND LIA3ILITIES OF THE .FEDERAL RESERVE BANKS AT CLOSE OF BUSH1ESS, SEPTEiviBER 24, 1924.
St. 424jb
RESOURCES
(In thousands of dollars)
Federal Reserve Bank of
Boston New York Phila.
Cleve.
Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total
Gold with Feneral Reserve Agents 211,431
569,354 183,267 216,939 51,473 123,861
226,}45 54,308 56,098 61,595 43,303 227,932 2,031,406
Gold. rec1emption f'..lnd with U.S.T:r.eas. 2,234
6,054
5,994
1,967
1,810
2, 793
3,647
3,789
781
2,704
1,624
1,309
34,686
Gol2 hald exclusivel:£ §gainst
E~notes
213,665
Golc.i settlement fun<l with F.R.Board. 52,104
GolCI ancl golcl certif. helcl by banks 21,665
Total gol<'l r;;;sarv;.;s
FLa s ,;;rv·e s
oU1ar than gold
Total ras.-3rves
Non-reserve cash
Bills Cl iscountec1:
Sec. by U. s. Gcvt. obligat icn s
Othe:r. bills discounted
Total bills 0 iscmmterl
575,908 189,261 218,906 53,283 131,654 229,992 58,077
129,336 16,617
156,782 31,220 72,862 33,603 18,065
72,125 9, 730
177,740 27,126 17,930 13,348
1, 563
431,503 84,474 78,535 100, 623
10,120 14t2J9
1,261
2270
295.,563
927,948 250,331 314,483 104,508 166,167
1,246
2,261
2,595
3,550
13,799
441,623 99,413
5,111
2, 774
3,999
5,778
4,751
10,529
17,621
17 ,4ol
11,227
6,~7
35,222 17,524
2,6o2
22,994
8,657 4,3):1
20,240 18,932
303
10,851
625
8,990
1,336
11,451
5,385
12,814
89,515
170, }48
28,683 38,414
25,596
28,897
23,243
11, 154
9,615
12,737
13,199
259,863
2,3o4
8,889
3.633
1, t>74
3,626
3,862
9,291
Total U. S. Govt. securities
All other earning assets
38,864
187,316
8,376
S. Governrrent s<:;cu.rit ies:
Total
earni~ass0ts
~
57' 769
262,867
.1
Uncollected items
Bank premises
All other resources
50,676
4,312
146
"'
TOTAL RESOURCES ·
c.
31,452
1,750
990
9,645
53,143
17 ,}ff:j
600
12,715
3,454
8, 246
1,625
15,033 24,_305
5 263' 8,407
--'--·
1,834
19,469
6,492
1,119
42,05.6
17' lt>3
37,061
397,753
139,782
4,993
2,886
30,557
16,769
2E,547
27' 795
60,333
574,596
34,337
!'?S"'•- ~
43,407
54~i65 54.~~- 26,767
1,112 9,130 '2,528
2,f.75
.~
246
I'-/ (t,
996
1,375
515
1,191
2,~12
118,343 43,705
8,325
9~
.2.,
30,786
55t259
1.6,_71~
6o, 742
52,527 97.726
1J} 1 JJO
79,796 103,093 70,751 302,339 3,156,015
605
1,679
43,191
2,543
3,029
9,475
28,939
21,995
&688
•
1,039
26,796
11,02]
in open u1arket
62,271 299,072 3,069,163
8,480
86,852
3, 267
910,430 247,607 309,698 100,234 157' 232
2,724 _4, 785 4,274
17,518
8l885
'Bonds
Treasury notes
Cartificatas of indebtedness
u.
~o~gh~
32,111
3,613
oo,092
44,927 229,241 2, o'c
603,448
10,392 36,174
6,952 33,657
399,623
64,299
2S7 ,434
8,129
40,GBtt
1,801 8,301
36L't
4,902
5,115
749
136,394 25,426 38,229
46,020
5,277 17,398
Bills
56,879
13,532
8,124
219
188
1,878
412,465 1,362,983 360,721 419,018 207,857 232,043
-
75rl29
S,264
698
41,375 4 7, 578
44 ,444 87,323
9c£,355
...........
14)"78J.': }6~92?. 27 tl® fS&~089;..r-:;-598 '345
' ~_:9 5
3,067
6ov026
4)
1~912
2,524
2,993
5,,.,.\
3'11
4e-l;
..-5-~1
155--2-~~.i_ ____1o~o
L-2_ _ _
, ::~ ________
!_ -~-~--~~
30,12~.
649,168 17b,69~+ 144, 679 l95s 731 149, {1{ 4)9, 017 4, 812,143
,.·..
Re1easc,cl for pu.oli~"ktia . .Friday morning, September
RESCURCES
AND LIABILITIES
26, 1924,;
not earlier.
24, 1924.
OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINE:SS, SEPTEMBER
L I A3 I L I T I E S
(In thousands of dolla~s)
Fede~al
Reser:e Eank of
Boston
New York
Phila.
Rich.
Cleve.
Atlanta Chicago St.Louis
~linn.
Kans.Cy. Dallas San Fran .. Total
51,199 2C8,196 1, 7~,8fjj
198,035
302,733 150,934 210,792
Dep•)sits:Mernb3r bank - reser'V'e acccunt
Gover:r>..ment
Othe:r.· c1 epo sits
138,458
2,172
249
Total cl eposi ts
140,379
327,463 125,818 176,819 63,077 59,496 313,005 72,728 50,130 30,923 51,973 160,441 2,120,331
46,,926
10,816 3,045 3,106 3,397 5,118
3,826
2,950 2,256 2,243 3,613 4,324
13,132
374 __~,362 ___186 _ _20._0_ _1,533 _ _8_13
327
773
234
4,474
23~625
856,411 129,237 181,290 66,oOo 64,714 31£,369
76 , 4oG
52,713 5},944 55,930 ltfJ,239 2,195,332
:J
~ferred
availability items
Capital paid in
Su:-r:lus
.All other liabilites
TOTAL LIABILITIES
43,396 111~992
E,005
30,201
16,390
59;929
258
1) 717
412,1165 1,362,983
~~----~
71,434 133,955 216,8)2 "55,960 65,C97
~64~782
F. R. r:otes in actual c i~cu1at icn
49,795 49s578 51,261 18,457 67,072 30,5rr 14,674 32,575 C-9,053 37,057 540,929
10,392 12,705 5,883 4,579 15,197
5,118 3,324 4,361 4,147 3,064 111.976
19,927 23,b91 11,672 8,950 30,426 10,072 7, 1t84 9,496 7,577 15,301 220,915
336
962
947 i,3S3
1,412
531 1, 33 7
o23
1,811 1, 16o
12, 5E 2
360,721 479,018 207,857 232,04-} b49,16S 176,6<)4 144,679 195,781 149,717 439,017 4,312,143
-~~----~~
Ratio of total reserves to deposit
and F. R. note liabilities
c orr. binecl, per c ent
66.0
75·7
Contingent liability on bills
pur·c 11ased. for foreign
cor:r-esr:onderts
5,181
1,985
2,394
1,1b7
90i
.
3,050
1, 003
737
778
80.1
1, 555
19 '692
FEDERftJ, RESERVE NOTES OUTSTM DING AND IN ACTUAL CIRCUI.ATIOH
.F. R. notes outstanding
.F. R. nct;;;;s held by banks
220,063 616,353 193,714 231,232 7S,711 150,820 231,278
22,033 313,625 47,730 20,440 7,277 16,365 14,58b
-~~-.:...._;_:___
63,963 6S,022 72,113 57,734 247,396 2,2~6,419
8,008 2,925
7,336 6,535 39,200
506!560
-------
F. R. notes in actual ci:rcu1at icn
198,035
55,960 65,097 64,732 51,199 203,196 1,729,359
302,733 150,934 210,792
71.434 133,955 216,692
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEINESS BY MATURITIES
15 days
143,331
20,064
Within
Bills discounted
Bills bought in open market
Certificates of indebtedness
c.
16
30 da;vs
30,569
13,593
to
I
31
6o da.ys 61 to 90 days From 91 clays
to six months
€,266
48,359
23,417
2~~~~v~.!:J
6,o64
24,270
76,232
19,980
3
to
.->
Over.
6 months
421
43,517
Total
259,3b3
"1";}}<-/b ~
.
139 t 732
Released for publicaticn Friday tnorning, S:-ptember 2b, 1924; not ~a.rlier.
St. 424jct.
FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS, SEPTEiVBER 24, 1924.
(In thousands of dollars)
Fe<'iel"c;,l Reserve Agent at
R
E
New Yo:r.k
Phila. Cleve.
Rich.
Atlanta C11icago St.Louis
Minn.
Kans.Cy. Dallas
SaD F:ran.
Total
S 0 URCE S
Fsc" e:-:-al. R.::cc:;T"'Je notes on ~Pn(!.
Ft-cl~.:;ra1 :Rd2e:rve notes outstandin;~
Collate.'):ta1 security for Fetiera1
Pese-y··,·e n·:Jt.ss outste..n0 ing:
Gc·1Cl a~;:1 gol<'l certificates
Golct :recie~npt ion fund
GcJ 0 f1nd - F. P. Board
EHgi ble paper:
.AnlL"nJl: t
Boston
l'·~3c_ru.irecl
:Sxc; "; s amoD_r.t he lc1
'I'O'TJlJ.,
76,450
220, Ob£.
235,440 43,400 54,820 }6,400 70,760 239,520 26,100 20,467 29,733 17,457 67,500 923,047
616,358 l9b,714 231,232 73,711 150,320 231,273 63,968 63,022 72,118 57,734 24 7,396 2, 236,419
35.300
18' 131
158,000
238,531
71 '600 3, 780
3,500
14,556
331,504
9,985 13,052
2,678 5,361 5,701 3,323 1,546 4,235 4,247 14,387
30,323 11,578 13' 159
114.669
301,000 lb3,389 195,000 48,795 120,000 220,644 41,000 41,500 57,360 24,500 213 : ;.45 1 ; 58 5' 23 3
8,637
10,268
46,504 15,447 14,293 27,236 21,959
4,933 9,b6o 11,924 10,523
23,084 1,798 22,540 11,014 5,338 32,669 17,259
409
2,540
526,3541,491,240 447,b2b 539,824
20l.~,836
14,431
2, 193
19, lJ.64
6, 605
_..;.._;:_.,._
205,013
136,267
378;288 734,745 171,295 156,920 176,509 135,118
L I A3 I L I T I E S
Net arnoc.1~t of Fec1e:ral Roserve notes
rece )_v ~'"c1 f:r. em Cc;nptroll~r
of the C\lrrency
296,513
851,798 247,114 286,052 115,111 221,580 470,798 90,068 88,489 101,851
75,191 314,396 3,159,466
Collateral received from
Fec1,;ral Reserve bank:
Gold
El igib1CJ ps..per
'l'OTAL
c.
211,431
18,905
569,854 18},267 216,939 51,473 128,861 226,345 54,308 56,098 61,595 43,303 227,932 2,031,406
69,583 17,245 36,833 33,252 27,847 Jt~602 26,919 12,333 13,063 16,624 26,069
341,280
526,854 1,491,240 447,626 539,324 2d+,836 378,288 734,745171,295 156,920 176,509 135,118 568,897 5,532,152
@FedFRASER