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s t a t e : rssrr f o r t h e p r u s s Released, f o r p u b l i c a t i o n F r i d a y morning, S e p t . 9 ; not e a r l i e r . CONDITION 0 ? mm&L S0.5U93 F e d e r a l Reserve Board September 8, 1$2J RESERVE BATES The c o n s o l i d a t e d s t a t e m e n t of c o n d i t i o n of t h e Federal r e s e r v e brnks on September J, me.de - n i b l i c "by t h e F e d e r a l Reserve Board, shows i n c r e a s e s f o r the week of $ 8 7 , 8 0 0 , 0 0 0 i n b i l l and s e c u r i t y h o l d i n g s , of $ 4 4 , 3 0 0 , 0 0 0 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 , gnd of $ 1 9 , 5 0 0 , 0 0 0 i n member bank r e s e r v e d e p o s i t s , and s d e c r e a s e of $ 2 0 , 5 0 0 , 0 0 0 i n c.*.sh r e s e r v e s . H o l d i n g s of d i s c o u n t e d b i l l s i n c r e a s e d $ 4 9 , 0 0 0 , 0 0 0 , of Government s e c u r i t i e s $ 2 6 , 7 0 0 , 0 0 0 , and of a c c e p t a n c e s p u r c h a s e d i n open market $ 1 2 , 2 0 0 , 0 0 0 . D i s c o u n t h o l d i n g s of the New York bank i n c r e a s e d $ 7 0 , 5 0 0 , 0 0 0 d u r i n g the week, w h i l e the B o s t o n bank r e p o r t s a d e c l i n e i n d i s c o u n t s of $ 1 1 , 1 0 0 , 0 0 0 , Open-market a c c e p t a n c e A t l a n t a of $ 4 , 6 0 0 , 0 0 0 , and S t . L o u i s of $ 3 , 8 0 0 , 0 0 0 . h o l d i n g s i n c r e a s e d a t a l l but one of the r e s e r v e banks, the p r i n c i p a l i n c r e a s e s b e i n g $ 3 , 0 0 0 , 0 0 0 ea,ch a t P h i l a d e l p h i a , and Richmond. The S y s t e m ' s h o l d i n g s of U. S. "bonds i n c r e a s e d $ 2 5 , 6 0 0 , 0 0 0 and of Treasury n o t e s $ 9 , 0 0 0 , 0 0 0 , w h i l e h o l d i n g s of Treasury c e r t i f i c a t e s d e c l i n e d $ 7 , 9 0 0 , 0 0 0 . A l l o f t h e F e d e r a l r e s e r v e banks r e p o r t a l a r g e r volume of F e d e r a l r e s e r v e n o t e s i n c i r c u l a t i o n than a week ago, the p r i n c i p a l i n c r e a s e s b e i n g a s f o l l o w s : Chicago $ 1 0 , 8 0 0 , 0 0 0 , San F r a n c i s c o $ 7 , 5 0 0 , 0 0 0 , A t l a n t a $ 4 , 7 0 0 , 0 0 0 , B o s t o n $ 4 , 0 0 0 , 0 0 0 , D a l l a s $ 3 , 8 0 0 , 0 0 0 , and P h i l a d e l p h i a $ 3 , 3 0 0 , 0 0 0 . A summary of c h a n g e s i n the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the r e s e r v e banks d u r i n g the week and t h e y e a r e n d i n g September 7, 1 9 2 7 , f o l l o w s : I n c r e a s e or d e c r e a s e during Week Total r e s e r v e s Gold r e s e r v e s Year -$20,500,000 8,200,000 + $163,300,000 + 158,200,000 + + + + 87,800,000 4o,000,000 24,100,000 24,800,000 - 4°,700,000 164,800,000 82,900,000 81,900,000 B i l l s bought i n open market + 12,200,000 - 68,700,000 U. S. Government s e c u r i t i e s , t o t a l Bonds Treasury n o t e 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 + 26,700,000 + 25,600,000 + 9,000,000 - 7,900,000 + + + 187,200,000 192,200,000 111,800,000 106,800,000 Federal reserve n o t e s i n c i r c u l a t i o n + 44,300,000 - 25,800,000 Total d e p o s i t s ^embers' r e s e r v e d e p o s i t s Government d e p o s i t s + 26,500,000 + 19,500,000 + 8,100,000 + + + 125,400,000 111,200,000 15,200,000 Total b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l Secured by U.S. Government o b l i g a t i o n s Other b i l l s d i s c o u n t e d W, . . . - — ; " r — w '—r — R e l e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , September 9 , 1 9 2 7 ; n o t e a r l i e r . S t . 5^95s, EE SOURCES M D LIABILITIES OF THE TWELVE FEIEBA1 BZSSRVE B A H S C0MBIZ5D ( i n t h o u s a n d s of d o l l a r s ) Sept. 7.1327 HE S O U R C E Ms. 31,1927 Sept. 8,1926 S Sold with F e d e r a l r e s e r v e a g e n t s . . . . Gold r e d e m p t i o n f u n d w i t h U . S . T r e a s u r y . Gold h e l d e x c l u s i v e l y a g a i n s t F . R . n o t e s Gold s e t t l e m e n t f u n d w i t h F . R . B o a r d . . Gold a n d g o l d c e r t i f i c a t e s h e l d b y h a n k s Total gold reserves Reserves other than gold Total reserves 1,579,526 43,238 i,64o,26o 1,622,764 36,670 1,676,930 694,143 672,786 689,502 1,408,431 53,954 1,462,385 631,491 734,727 634,353 2,989,693 2,997,923 2,831,465 135.549 147,813 130,501 3,125,242 3,145,736 2,961,966 45,596 48,050 45,483 ITon-re s e r v e c a s h B i l l s discounted: S e c . "by U. S.Government o b l i g a t i o n s . . Other b i l l s discounted . 241,953 207,531 217,817-3 1 8 2 , 7 0 f '1 324,331 239,436 Total b i l l s discounted 445,484 400,524 614,267 197,306 185,128 265,934 237,700 212,077 B i l l s b o u g h t i n open m a r k e t U. S. Government s e c u r i t i e s : Bonds Treasury notes 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 . . . . . . . . T o t a l U.S.Government s e c u r i t i e s 99,642 153,166 161,095 45,459 220,418 46,407 499,469 472,814 312,284 320 3,700 1,196,235 669 108,603 320 Other s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s 1,146,579 12,267 Due f r o m f o r e i g n b a n k s Uncollected items Bank p r o m i s e s All other resources 689,215 59,579 19,512 TOTAL RESOURCES 1,058.786 12,248 603,366 59,455 667,549 59.938 16,754 5,097.990 17.747 4,945.388 4,948,594 1,720,715 1,676,440 1,746,524 2,318,415 20,803 2,298,880 L I A B I L I T I E S 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 . . Deposits: Member b a n k - r e s e r v e a c c o u n t . . Government Foreign bank Other d e p o s i t s Total deposits 5,487 23,054 12,699 5,536 24,168 2,207,185 5,565 11,339 is.235 2,367,759 2,341,283 2,242,324 555,002 Deferred a v a i l a b i l i t y items Capital paid i n 130,668 130.727 All other l i a b i l i t i e s 228,775 13,670 228,775 13,161 596,902 123,711 220,310 18,823 5,097,990 4,945,388 4,948,594 TOTAL LIABILITIES 636,403 . . . R a t i o of t o t a l r e s e r v e s t o d e p o s i t a n d F . R. n o t e l i a b i l i t i e s c o m b i n e d . . . 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 for foreign correspondents C. 76.4$ 78.3$ 7 4 . 3 f> 174,107 165,746 44,824 EE SOURCES AND LIABILITIES OF THE FEDERAL"!® SERVE BMKStW SEPTEMBER'?, 1927. ( i n t h o u s a n d s of d o l l a r s ) S t . 5493b R E S O U R C E S Total Boston Gold w i t h F e d e r a l R e s e r v e A g e n t s 1 , 5 7 9 , 5 2 6 1 4 3 , 2 6 5 Gold r e d e m p t i o n f u n d w i t h U . S . T r e a s . 4 3 , 2 3 8 5,5$4 Gold h e l d e x c l u s i v e l y a g a i n s t 1 , 6 2 2 , 7 6 4 148,829 F . R. n o t e s Gold s e t t l e m e n t f u n d w i t h F . R . B o a r d 6 9 4 , 1 4 3 54,356 Gold and g o l d c e r t i f . h e l d "by h a n k s 672,786 27,006 Total gold reserves Reserves other than gold Total reserves Eon-reserve cash B i l l s discounted: ,1scured b y U. S. Govt, o b l i g a t i o n s Other b i l l s d i s c o u n t e d Total b i l l s discounted B i l l s b o u g h t i n open market J. 3. Government s e c u r i t i e s : B r ;nds Treasury notes 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 T o t a l U . S . Govt, s e c u r i t i e s Other s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s Due f r o m f o r e i g n b a n k s Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES 2,989,693 230,191 Hew York P h i l a . C l e v e . R i c h . A t l a n t a Chicago S t . L o u i s 2 6 1 , 3 1 2 134,210 2 1 5 , 7 8 ? 4-5,617 1 5 1 , 4 3 2 273,621 2 1 , 5 3 2 13,l4g 10,46? 2,884 1,184 1,779 702 1,759 218,671 46,801 153,211 274,323 23,291 5 6 , 9 7 3 6 4 , 1 4 3 3 2 , 0 1 8 185,367 68,861 20,390 10,001 146,663 20,261 1 2 , 4 1 1 29,149 12,190 44,516 28,299 33,078 4,173 7 , 6 4 1 50,992 12,325 7 , 4 6 s 7 , 3 7 7 9 , 0 1 4 29,900 964,81? 213,477 320,610 7 1 , 3 6 4 1 7 0 , 8 5 3 471,978 5 5 , 8 7 7 76,852 100,669 5 3 , 2 2 2 259,783 8,428 4,254 5 , 8 6 4 12,64o 22,205 1 3 , 9 9 8 8,469 23,815 5,28? 9,277 7,797 988,632 221,905 329,887 77,228 1 8 3 , 4 9 3 494,183 69,875 8 1 , 1 0 6 1 0 5 , 9 5 6 61,019 268,252 872 2 , 3 8 1 2,151 2 , 7 8 ? 10,894 1 , 0 4 2 3,029 3 , 5 9 9 3 , 8 8 0 6 , 8 9 7 3 , 1 9 0 274,46o 234,844 455,513 135,5^9 13,515 3,125,242 243,706 45,596 4,874 241,953 207,531 15,41? 10,386 449, 4 s 4 25,803 176,688 197,306 18,624 237,700 9,726 108,603 110,545 66,143 78,844 39,901 22,805 144,677 4o,50i 23,266 15,713 20,414 7,786 7,577 16,543 2,919 26,034 18,64o 11,930 38,979 6,088 28,200 24,120 29,003 13,241 15,509 7,439 31,304 12,382 10,82? 6,294 12,369 153,166 5,4l4 8,556 37,699 8,688 15,020 499,469 23,696 100,405 36,077 320 - 68,123 12,267 902 689,215 59,36o 1,146,579 59,579 19,512 3,946 65 Minn. Kans.Cy. D a l l a s San F r a n . 56,296 6 2 , 6 6 6 3 0 , 5 8 5 183,203 677 1,477 1,433 2,l64 - 355,937 3,573 193,850 16,276 8,585 5 , 0 9 7 , 9 9 0 380,976 1 , 5 7 7 , 7 4 7 - 81,144 1,154 54,651 1,749 354 6,261 10,922 9,876 54,608 26,964 - 96,049 1,275 62,853 16,356 8,576 914 4,668 1,044 7,308 10,470 3,829 28,812 14,744 30,570 22,042 24,932 4,982 8,352 14,299 4,944 5,045 6,171 6,969 43,556 12,390 2,6I4 6,364 40,250 12,665 19,129 17,348 8,142 2,725 10,301 18,316 16,363 6,636 7 , 0 9 0 6 , 0 9 4 15,272 72,044 34,275 300 - 66,593 52,014 51,734 2,465 481 28,462 625 493 - - 124,656 64,151 1,659 80,923 2,901 8 , 5 7 7 7,118 1,560 1 , 4 4 2 1,456 361,999 501,667 202,725 272,803 718,337 517 33,718 3,957 977 5,288 '=9-592 .8,143 24,701 9,812 13,792 22,225 34,993 30,600 48,305 20 32,272 361 13,657 2,774 2,310 176,385 133,352 - 49,521 445 43,572 4,470 586 - - 51,868 104,251 421 842 27,449 38,986 1,827 3,519 603 1,093 206,931 1 4 5 , 3 3 8 419,730 HE SOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAHKS ON SEPTEMBER 7, 1 9 2 J . ( I n t h o u s a n d s of d o l l a r s ) Clove. R i c h . A t l a n t a Chicago S t . L o u i s Minn. T o t a l B o s t o n Hew York P h i l a . 374,708 135,202 2 i 4 , 4 o i 6 2 , 1 5 7 160,913 245,866 42,855 5%,530 PH.notes in actual circulation 1 , 7 2 0 , 7 1 5 142,977 DcpvLits: 904,180 138,766 137,659 72,087 68,270 345,399 81,755 48,418 2 , 3 1 8 , 4 1 5 151,020 Member b a n k - r e s e r v e a c c o u n t 1,176 2,489 896 1 , 2 9 9 1,169 2,785 1,012 1,911 20,803 2,294 Government 151 207 695 217 1 , 8 4 5 483 534 262 5,487 373 F o r e i g n bank 126 58 900 339 16,231 44 1,124 n4 23,054 98 Other d e p o s i t s Total deposits 2 , 3 6 7 , 7 5 9 153,790 9 2 3 , 4 2 5 142,078 190,329 74,374 69,711 349,483 83,207 4 9 , 9 9 4 636,403 5 6 , 7 0 1 175,566 49,803 57,885 46,975 26,661 71,257 33,897 1 3 , 3 2 5 Deferred a v a i l a b i l i t y items 130,66s 9,466 39,362 13,202 13,91s 6,239 5,143 1 7 , 3 2 5 5 , 2 9 1 3,003 Capital paid in 228,775 17,606 61,614 21,267 23,746 12,198 9,632 31,881 9,939 7,527 973 782 743 2,525 1,196 13,670 43b 3,07 2 447 l,3S8 LU e t h e r l i a b i l i t i e s L I A B I L I T I E S 5,097,990 TOTAL LIABILITIES 76.4 Reserve r a t i o (per c e n t ) 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 chased f o r f o r e i g n correspondents 174,107 v.P.. n o t e s on hand ( n o t e s r e e ' d f r o m F.R,Agent l e s s n o t e s i n c i r c u l a t i o n ^ 54,930 F-R.notes r e e ' d from Comptroller 3' H . n o t e s h e l d by F . R. Agent P R . n o t e s i s s u e d t o F.R.Bank Collateral hold as security f o r F . R . n o t e s i s s u e d t o F.R.Bank: Gold and g o l d c e r t i f i c a t e s Gold r e d e m p t i o n f u n d Gold f u n d - F . R. Board E l i g i b l e paper Total c o l l a t e r a l B i l l s discounted B i l l s bought i n open market 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 ' v M ~; vr-,.1 w a r r a n t s . 330,976 82.1 12,431 25,975 2 , 8 8 9 , 8 6 0 239,152 814.215 70.200 2,075,645 163,952 1 , 5 7 7 , 7 4 7 361,999 501,667 202,725 272,303 718,337 176,385 133,352 79-b 83.0 55.4 74.7 76.2 880.0 0.0 81.5 56.6 54,272 15,912 17,569 8,619 6,796 22,873 7,127 4,972 S t . 5493c Kans.Cy. D a l l a s San F r a n . 64,187 4 4 , 0 4 3 174,876 39,725 613 186 217 90,741 33,050 4,220 9,029 704 59,245 1,012 4,147 353 3,76i 6 0 , 4 7 5 180,152 27,770 3 8 , 5 1 3 4,270 9,229 176 42 8,215 16,121 565 839 206,931 145,338 68.4 6,133 110,442 32,608 31,848 12,245 26,281 46,849 4,542 5 , 0 8 3 9 , 6 7 6 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS 777,230 204,610 272,039 97,686 250,684 442,515 65,197 8 5 , 8 2 2 111,163 292.080 36.800 25,790 23.284 63.490 149,800 17,800 22,209 37,300 171,391 58.4 419,730 75-6 5,801 11,602 6,231 43,150 62,536 281,226 12,262 63,200 435,150 167,810 246,249 74,402 187,194 292,715 47,397 63,613 73,863 50,274 218,026 1,055,644 89,000 215,150 38,600 36,469 17,217 21,162 8 , 7 3 3 12,187 6 , 3 9 8 5,715 1,621 25,000 125,477 165,000 2,750 128,500 272,000 8,500 3,032 10,000 29,234 1 2,267 1,029 43,000 9,530 2,196,015 187,692 506,357 108,791 254,847 83,683 187,234 324,506 50,766 65,826 76,631 5l,4l4 238,268 421,876 35,300 102,006 18,965 616.439 44.427 245.045 34,581 39.060 38.066 15.802 50,885 4,806 57,360 13,965 18,373 3,212 40,000 15,146 9,000 123,057 20.829 55.065 MATURITY DISTRIBUTION OF BILLS, CERTIFICATES OF INDEBTEDNESS AND MUNICIPAL WARRANTS BY MATURITIES 91 days t o Over 6 months Total W i t h i n 15 days 31 t o 60 days b l t o 90 days l 6 t o 30 days 6 months 126 4,109 37,927 18,647 26,909 361,766 449,484 2,560 17,029 33,759 113,661 30,297 197,306 66,584 93 4,429 82,055 153,166 20 20
@FedFRASER