Full text of Treasury Bulletin : April 1953
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LIBRARY ROOM 5030 JUN 2 3 1972 TREASURY DEPARTMENT ^miuiuLETm RPRIL-IB53 UNITED STATES TRERSURY DEPORTMENT OFFICE DF THE SECRETARY April mj Table of Contents Page Treasury financing operations A-l Summary of Federal fiscal operations 1 Budget receipts and expenditures 2 Tru'st account and other transactions £ Treasury cash Income and outgo 12 General Fund of the Treasury 15 Debt outstanding l6 Statutory debt limitation 21 Debt operations 22 United States savings bonds 27 Treasury savings notes 33 Ownership of Federal securities 3^ Treasury survey of ownership of Federal securities.. 36 Market quotations H-0 Yields of Treasury and corporate bonds kH- Internal revenue collections l Monetary statistics 50 Capital movements 5^ Corporations and certain other business-type loans and balance sheets activities — 6g Cumulative table of contents 73 Note: v6 In those tables in which figures have been rounded to a specified unit, all calculations (Including percentages) have been made from unrounded figures. Consequently the details may not check to the totals shown. Avril 195) A-i Treasury Financing Operations Treasury Bills Refunded Weekly maturities of 91-day Treasury bills In March totaled %h.<) billion. amounts. They were refunded in equivalent total and weekly The offering dated March 5 was for $1.3 billion and the offerings dated March 12, 19, and 26 were for $1.2 billion each. The average rates of discount on the new issues were 2.l6^ percent for March 5, 2.098 percent for March 12, 2.029 percent for March 19, and 2.036 percent for March 26. Note: Details of Treasury market financing operations are shown elsewhere in this Issue of the "Treasury Bulletin", in the tables on "Off erlngs" and "Disposition", respectively of marketable issues of bonds, notes, certificates of indebtedness, and in the table "Offerings Bills". and of Treasury April 195J SUMMARY OF FEDERAL FISCAL OPERATIONS ( Budget receipts and expenditures Net receipts 1/ Expendlturea g/ Surplus, or deficit C-)2/ In millions of dollars Net of truat account and other trans actions Clearing account y 2/2/ let Increase In public debt, or decrease Bet Increase in General Fund balance, or decrease (-) (-) Levels, end of period Debt outstanding General Fund balance Public debt Guaranteed securities Total Federal securities Fiscal years 19>&. 12,696 22,202 1*3. 19W. 1*5. 1*6. 1*7. 44,762 40,027 1946. 4-2,211 1*9. 38,246 37,045 48,143 62,129 1950. 1951. 1952. 1953 (Est.). 19* (Est.). Calendar years: 1942. 1*3. 19 *. 1 1945. 19W. 1*7. 1*8. 1*9. 1950. 1951. 1952. 1*3,892 1*0,04-3 34,1*7 79,622 95,315 98,703 60,703 -21,490 -57,420 -51,423 -53,941 -20,676 -1,613 -338 -2,222 791 -524 39,289 33,791 40,057 40,167 754 8,419 -1,811 -3,122 3,510 -4,017 -1,103 -294 -495 99 679 147 W,633 66,145 23,461 64,274 64,307 57,679 10,740 358 6,515 10,662 *,529 -10,460 555 -507 366 483 -214 -401 -11,136 -5.99 * -10,930 1,624 -1,462 2,047 1,839 -388 25 -5 4,795 9,900 50,232 57,707 64,753 47,484 -18,966 1 478 4,587 -2,135 3,883 2,991 9,507 20,169 24,698 14,238 72,422 136,696 201,003 258,682 269,422 4,568 4,100 1,623 433 476 76,991 140,796 202,626 259,115 269,898 3,308 90 73 3,470 5,517 7,357 6,969 258,286 252,292 252,770 257,357 255,222 259,105 27 20 29 46 258,376 252,366 252,798 257,377 255,251 259,151 -969 6,000 6,000 263,900 273,800 68 43 263,968 273,843 6,983 1,751 io,*3 12,2* 9,*2 3,767 -22,502 22,236 26,003 3,502 108,170 165,877 230,630 278,115 259,149 112,471 170,108 232,144 278,682 259,487 3,097 4,208 4,679 4,232 4,295 6,064 256,900 252,800 257,130 256,708 259,419 267,391 4,301 4,230 1,514 567 339 81 "1,932 68,697 68,665 *,593 78,587 -5,896 -9,922 108 26 16,290 34,483 43,531 43,928 38,810 57,751 90,174 97,181 87,522 41,322 -41,461 -55,691 -53,650 -43,594 -2,512 -1,788 -266 -1,161 -123 -1,386 362 41,010 41,450 38,122 37,834 38,576 36,209 41,714 38,255 56,846 71,366 2,434 5,241 -3,592 -240 199 234 87 -106 -319 -2,249 -4,100 -422 -3,358 -5,842 -350 -229 -502 311 815 -41 2,711 7,973 -405 1,111 471 -447 62 1,770 640 1,047 4,054 -1,381 -1,370 1,119 -83 247 -161 111 106 4,454 5,382 8,569 6,955 5,782 7,357 254,997 254,727 255,093 255,222 21 21 29 >>3 221 929 3,187 -1,614 -1,173 1,574 256,125 284 -583 -184 -944 -270 366 129 -2,168 -1,493 1,046 11 83 37 U35 988 709 -1,737 -525 1,822 5,620 5,095 6,916 255,657 256,644 257,353 28 945 1,306 -186 -2,042 -250 -329 4,8* 258,298 259,604 259,419 37 4,624 4,295 42 258,336 259,647 259,461 3,879 5,075 6,840 259,775 260,362 258,084 38 37 4l 259,813 260,399 258,124 5,393 44 258,337 259,951 259,151 ( 53A88 65,523 ">,331 -423 1951-Jsnuary. February March... April... 4,448 4,257 8,112 2,626 May June.... 3.1W 7,089 3,808 3,211 4,058 4,007 4,517 5,969 July... August. September 2,571 "t,739 3,5* 5,087 5,163 October. November December 2,635 3,521 5,279 5>83 5,178 5,627 -2,847 -1,658 -347 -55 82 196 -14 -103 30 -86 20 7 1952 -January. February March... 4,953 5,553 9,886 5,455 5,105 5,704 -501 448 4,182 -37k 186 106 103 -25 -245 357 587 -2,278 -415 1,196 1,765 April... May June... ^,323 3,809 9,796 6,016 5,659 6,930 -1,693 -1,850 2,865 -291 357 -192 329 -91 -326 209 1,613 -800 -1,447 July... August. September 3,316 4,050 6,585 6,742 5,018 6,070 -3,426 -968 515 -17 77 422 432 -195 -229 October. Nor ember December 3,099 4,151 6,003 6,383 5,l6l 7,124 -3,283 -1,009 -1,121 -252 316 201 -243 -145 1953 -January. February March. 5,061 5,479 10,502 5,737 5,595 6,187 -676 -116 -111 272 -197 6,209 "»,315 227 -34 -69 136 -265 -304 401 -2 -135 Source: Actual figures from Dally Treasury Statement; estimates based on 1954 Budget dooument, released January 9, 1953. More detailed Information with respect to the figures in this table is glTen in succeeding tables. 1/ Gross receipts lees appropriations to the Federal Old-Age and SurviTors Insurance Trust Fund and refunds of receipts. 2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 114 (f) of the Economic Cooperation Act of 1*8 lb 255,*1 55 30 24 42 54 18 18 29 32 33 1*3 28 5A21 1,548 6,969 258,292 259,905 259,105 3,968 957 113 -504 -973 204 7,925 6,952 7,156 263,073 263,186 262,682 2,238 2,513 -981 1,461 -1,572 6,175 7,636 6,064 264,919 267,432 267,391 1*5 -41 11 182 -3,099 -376 335 884 5,689 6,024 6,908 267,402 267,584 264,485 48 >t5 46 34 39 40 51 54 50 51 256,981 252,854 257,160 256,731 259,461 267,445 256,143 255,958 255,018 254,748 255,122 255,251 255,685 256,677 257,386 263,107 263,225 262,722 264,964 267,483 267,445 267,450 267,634 264,536 Beginning (62 Stat. 150), are consolidated with budget oxpendituree. with the fiscal year 1950, investments of wholly owned Government corporations in public debt securities are excluded from budget expenditures, and included with other such investments under "Trust account «nd other transactions" Excess of receipts, or expenditures (-). For outstanding checks and interest coupons, and telegraphic reports from Federal Reserve Banks; excess of receipts, or expenditures (-). Treasury Bulletin .BUDGET RECEIPTS AND EXPENDITURES Table I.- Receipts by Principal Sources (In millions of dollars) April 1957 -BUDGET RECEIPTS AND EXPENDITURES. Table 3.- Expenditures for National Defense and Related Activities (In millions of dollars) Fiscal year or month Total 191*5 191*6 90,501 191*7 1948 1949 16,812 11,500 12,158 1950 1951 1952 19,955 39,033 ii/ Air Force it/ 1*8,870 12,31*6 1953 (Est.).... 1954 (Est.).... 1952 -July AugUSt , . a September. October. November. December. . 1953 -January... February. 1953 to date. £7 Payments under Armed Forces Leave Act Havy tion Finance Corporation United States Maritime Conmission 18/ 50,337 27,800 6,911 30,01*7 1*72 ,227 15,161 4,998 328 138 691* 6,01*6 "*,171 1,690 5,"*17 1*,1*12 3,506 6,238 12,350 1*,058 4,110 5,757 9,961 U/ Beconstruc- 6,867 15,370 13V 1,986 270 10 271 277 136 Surplus property disposal 114 664 1,501 268 25 1 3 1 106 442 325 98 Strategic and critical materials 12/ Other 20/ 6,305 4,117 11 551* 99 299 44 71 439 656 847 225 1*35 503 15,385 17,510 15,865 15,200 10,900 12,000 1,070 900 1,227 820 3,89* 2,971 1,297 l*,008 1,31*1* 1,508 981 1,560 966 805 961 83 92 103 40 3,723 3,302 1,211 1,052 1,386 86 57 42 36 l*,08l 1,551* 3,632 3,501 1,285 1,088 1,211 1,315 1,020 29,102 9,703 10,898 7,523 1*1*, 1*4? 1*6,1*30 1,01*0 1,1*68 916 1,301 857 1.03 * 1 961* Source: See Table 2. Footnotes at end of Table 5. Table 4.- Expenditures for International Finance and Aid (In millions of dollars) 30 52 69 38 76 71 40 63 637 341 Treasury Bulletin -BUDGET RECEIPTS AND EXPENDITURES. Table 5.- "Other" Expenditures (In millions of dollars) Fiscal year or month Agriculture 28/ Commerce 22/ Housing and home finance Postal deficit 32/ 19>*5 1949 2,525 2,133 5,332 6,467 9,666 1950 1951 1952 1946 19*7 191*8 969 Public works 31/ 92 -307 1 -203 98 -21*6 161 1,226 782 ll*9 129 -68 -56 21*2 313 359 690 1,126 1,519 Eecone true t ion Finance Corporation 32/ -288 Social security program 33/ 807 -23 81*5 215 1,066 1,619 1,696 2,658 172 239 10,865 9,263 11,384 2,986 635 1,219 357 385 378 528 -270 593 1,575 l*6o 621* 1,1*58 6ll* 71*0 1,515 589 -71 -169 1,967 2,027 2,203 1953 (Est.)..., 195* (Est.).... 13,313 13,716 2,131 2,020 521 1*36 539 380 666 669 1,670 1,698 -56 -120 1952 -July August.... September 1,5*3 906 117 126 59 1*1 175 21 1*9 28 71 157 148 158 1*2 1*2 81*7 1,302 944 192 112 289 "*5 79 101 112 180 17* 1,11*0 -1 -11 -7 1,123 965 -80 19 160 285 October. . Nov amber. December. 1953-Jsnuary... February.. 1953 to date. 8,772 32 1*5 21* 1*0 1,527 315 J_ 363 Source: See Table 2. Footnotes 1 through 6 on page 2 and 7 through 8 on page 3 2/ For description of content, see Table 6 footnote 3. 10/ Beginning November 19*9, interest on the public debt la reported as an expenditure when such interest beccmee due and payable, as distinguished from the previous practice of showing the expenditure on the basis of interest paid by the Treasurer of the United States. 11/ Includes public works undertaken by the Veterans* Administration. 12/ Includes transactions relating to the Foreign Economic Cooperation Trust Fund (see page 1). 13/ Net transactions by the Departments of the Air Force and the Army relating to "Deposit Fund Accounts" are Included under "Trust Account and Other Transactions" Instead of "Budget Receipts and Expenditures" beginning 1952. 14/ Department of the Air Force expenditures, excluding those made on behalf of this department out of appropriations to the Department of the Army. 15/ Department of the Army expenditures, excluding the following: those Included elsewhere in Table 3; international finance and aid, shown in Table 4; river and harbor works and flood control, Included In Table 5 under "Public works"; and Panama Canal. Defense expenditures of the Panama Canal prior to 1947 are Included in Table 3 under "Other" ; nondef ense expenditures are included in Table 5 under "Miscellaneous" . Figures Include certain expenditures on behalf of the Department of the Air Force (see footnote 14 ) 16/ Department of the Navy expenditures, excluding those included elsewhere in Table 3 and those for international fianance and aid shown in Table 4. 17/ After 1947, expenditures for national defense and related activities were not segregated from other expenditures of the Corporation and its affiliates, which are included In Table 5. 18/ Excludes expenditures included elsewhere In Table 3 . Beginning 1950, expenditures of the Commission until It was abolished are Included In Table 5 under "Department of Commerce" (see footnote 29). 19/ Not classified separately prior to 1947. 20/ Through 1947, includes "war" and "national defense" expenditures of various departments and agencies; administrative expenses of the Selective Service System; expenditures of the War Shipping Administration not included elsewhere in Table 3, until the Administration was transferred to the U. S. Maritime Administration for liquidation, September 1, 1946; aid to China; and beginning 1947, the National Advisory Committee for Aeronautics. From July 19*7 through February 1948, consists of expenditures of that Committee and the Selective Service System. Thereafter, Includes also expenditures of the Office of the Secretary of Defense, including retired pay for the military services beginning September 1949. 21/ Excludes Bank expenditures under the Mutual Security Act and the preceding Economic Cooperation Act of 1948, as amended. 310 521* 11*0 138 515 89 70 1,075 1*38 311* -3 9 Atomic Energy Commies ion Miscellaneous at/ 937 159 1,11*2 1,!*56 1*56 1,633 6U7 2,121* 52I* 908 1.6U8 2,515 2,8M. 3,086 2,285 2,311 2,000 2,700 3,556 3,623 212 195 170 160 150 127 269 212 275 158 151 239 223 201* 208 162 -16 193 -21* 200 1,544 11*0 601 11*4 231* 155 207 1,185 2,258 22/ Under the Financial Agreement of December 6, 1945. First repayment became due on December 31, 1951, when payments were made of $44 million principal and $75 million interest. Payments on December 31, 1952, were $45 million principal and $74 million interest. 23/ Public Law 165, approved October 10, 1951. 24/ Prior to July 1951, consists of expendlturee under the Economic Cooperation Act. 25/ Prior to July 1951, consists of expenditures for mutual defense assistance. 26/ Includes principally relief to countries devastated by war, various other foreign relief programs, international children's emergency funds, and loan for construction and furnishing of United Nations Headquarters 27/ Total under Mutual Security Act; breakdown not available. 28/ Department of Agriculture expenditures, excluding those included in Tables 3 and 4 and those for forest roads and trails, included In Table 5 under "Public works" 29/ Department of Commerce expenditures, exludlng those included in Tables 3 and 4 and those for public roads included in Table 5 under "Public worke"; includes U. S. Maritime Commission for eleven months of 1950, until it was abolished and its functions were transferred into the Department of Commerce by Reorganization Plan No. 21 of 1950. 30/ Excludes expenditures included in Table 3; beginning September 1950, includes Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation by Reorganization Plans Nos. 22 and 23 of 1950. 31/ Consists of expenditures for the following: public roads, except assistance to Greece and Turkey; public buildings, consisting of construction only, beginning 1950; Bureau of Community Facilities through 1950, when it was abolished and its functions were dletribtributed; other Federal Works Agency expenditures except those included in Table 3 until the Agency was abolished by the act of June 30, 1949 (63 Stat. 380); Bureau of Reclamation; Tennesse Valley Authority; river and harbor works and flood control under the Department of the Army; and forest roads and trails under the Department of Agriculture. 32/ Excludes expenditures Included in Table 3. See also footnote 30. 33/ For more detail of those expenditures, see Tables 7, 8, and 9. 31*/ Includes expenditures for executive departments and other agencies not included elsewhere and for legislative and Judicial functions. 35/ Beginning 1952, borrowings and other transactions of the Federal intermediate oredit bankB are reflected In the Dally Treasury Statement, even though funds received and disbursed under certain of these transactions do not clear through accounts of the Treasurer of the United States. * Less than $500,000. -BUDGET RECEIPTS AND EXPEHDITURES Table 6.- Summary of Budget Results by Months and Years Treasury Bulletin -BUDGET RECEIPTS AND EXPENDITURES Table 7.- Social Security Act - Budget Receipts and Expenditures (In millions of dollars) April my BUDGET RECEIPTS AND EXPENDITURES Table 8.- Railroad Retirement Act - Budget Receipts and Expenditures (In millions of dollars) Receipts Fiscal year ox south 19*5 19*6 19*7 19*8 19*9 1950 1951 1952 , , Excess of net reoeipts, or expenditures (-) Taxes on carriers and their employees -26.3 -12.8 77.3 -206.5 -15.5 Administrative expenses let reoelpta u 285.0 282.6 380.1 557.1 563.8 550.2 577.5 735.0 -3*.l -30.5 -35.9 Expenditures Deduction: Refunds of taxes on carriers and their employees .2 9 28*. 311.1 281.7 380.O 557.0 29*. 5 .5 563. .5 5*9.6 577-5 73*. 302.8 763.5 578.9 583.7 608.0 770.7 Transfers to Railroad Retirement Account (trust aooount) 2.3 2.6 *.3 5.0 *.* 308.8 291.9 298.5 758.5 .9 582.8 608.0 770.7 57*. 1952-july August. . September. -32.9 16.5 89.2 5*.3 16.5 89.2 .5 October. November December.. 1.5 *.* -6.1 13.9 88.5 52.9 13-9 88.5 52.2 12. 12.lt 8*.0 58.3 8*.0 58.2 1953 -January. February.. .7 -1.2 Ik .2 89.U 1*.2 89.* 13.4 90.6 13.* 90.6 . . . . 3.1 5*.3 *9-3 86.1 53.9 *9.3 86.1 53.9 for administrative expenses relating to the Railroad Retirement Act through 1951, and interest on refunds of taxes (see footnote 2). Less than $50,000. Source: Dally Treasury Statement. 1/ Excess of expenditures Is covered by appropriations by Congress. 2/ Interest an refunds Is Included under "Administrative expenses" 2/ Consists of expenditures from appropriations made specifically Table 9.- Railroad Unemployment Insurance Act —'- Budget Receipts and Expenditures (In millions of dollars) Expenditures Receipts Fiscal year or month Excess of receipts, or expenditures (-) 2/ 19*5 19*6 19*7 19*8 19*9 Railroad unemployment insurance contributions \j .6 -.2 .5 -.6 -5-1 1950 1951 1952 1952 -July August September. . October.. November. December. 1953 -January . February.. . Source: 13.2 12.9 1*.2 1*.5 9.7 -3.2 *.o 9.1 9.8 .6 10.3 Administrative expenses */ 12.6 13.1 13.7 15.1 1*.8 3.7 3.5 *.5 5.5 5.9 12.3 5.8 9.7 6.9 5.8 5.* 5-3 *.* *.9 5.5 .6 -.3 .1 .* .* 2.0 2.* .5 .5 -5-5 -.* -.6 1.8 .* .7 .6 .1 2.* -.1 -.6 Operated, as Railroad Unemployment Insurance Administration Fund, for t administrative expenses of the Railroad Retirement Board in administering the act (1*5 U.S.C. 361). Excess of expenditures is covered by appropriations by Congress. Through 19^8 represented 10$ of contributions under the Railroad Unemployment Insurance Act of 1938; the remaining 90$ **s deposited In the Railroad Unemployment Insurance Aooount in the Unemployment Trust Fund. Beginning 19^9. represents contributions equal to 0.2$ • 8.9 9.6 9.2 9.7 9.0 * 7 .6 .1 .8 Dally Treasury Statement. 1/ Transfers to Railroad Unemployment Insurance Aooount, Unemployment Trust Fund 5_/ hj 2/ * of the taxable pay roll; the remaining contributions are deposited in the Railroad Unemployment Insurance Aooount (U5 U.S.C. 3?8 (f)). (See "Trust Aooount and Other Transactions'', Table 7) Consists of expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act. Represents excess funds of the Railroad. Unemployment Insurance Administration Tund, under act of Oct 10, 19^0 (^ Stat. 1099). Leas than $30,000. Treasury Bulletin .TRUST ACCOUNT AND OTHER TRANSACTIONS- Table I.- Summary of Trust Account and Other Transactions (In mil ions of dollars) Trust accounts, etc. Fiscal year or month Hat of trust acoount and other transactions 1/ Ret receipts, or expenditures (-) , Expend It urea (other than net Investments Receipts -1.95 7,544 3,238 2,619 2,658 1,89c 7,086 7,712 6,244 6,515 1/ 5,714 -458 4,474 3,625 3,857 3,824 37 1952 99 679 147 -281 3,852 3,855 6,669 7,796 8,807 6,950 3,945 4,952 1953 (Estimated) 1954 (Estimated) 107 27 3,543 3,259 .084 1952 Vulv AugUBt September . -17 77 422 266 403 500 . -252 . 201 . -265 1945 1946 1947 1948 1949 791 -524 -1,103 1950 1951 -29I1 October. November. December. . -111 272 1953 -January.... February... Het redemptions or sales ( of securities of Government Net Investments of agencies in the market 2/ Government agencies In public debt securities 2/ Guaranteed Hot guaranteed 277 5,200 3,668 3,362 3,060 2,311 ,276 160 -402 8 3,557 3,636 -10 -16 5,541 6,287 3,446 3,344 -22 13 25 -137 738 959 427 473 308 397 11 556 -73 44 -5 -1 -37 -66 34 -186 608 131 401 975 747 587 367 617 21 481 349 -5 -6 50 -68 -3 50 -10 286 920 296 346 130 170 6 -35 -2 134 ,547 574 Source: Actual figures from Dally Treasury statement; estimates based on 1954 Budget document, released January 9, 1953. 1/ Excess of receipts, or expenditures (-). 2/ Consists of transactions which clear through accounts of the Treasurer of the United States, except as noted In footnote 4. H -66 -28 -123 387 16 46 28 14 -374 88 4/ Excludes Foreign Economic Cooperation Trust Fund (see page l). Beginning 1952, net transactions in Federal Intermediate Credit Bank issues are included even though certain of these transactions do not clear through the accounts of the Treasurer of the United States. Table 2.- Trust Account Receipts (In millions of dollars) Federal Old -Age and Survivors Insurance Trust Fund Fiscal year or month Railroad Retirement Account Unemployment Trust Fund National Service Life Insurance Fund Goveramsnt Life Insurance Fund 1,076 684 786 87 86 87 912 403 545 597 631 86 582 84 970 1,080 634 631 55 53 3 328 19 41 40 3 363 34 36 28 4 112 40 36 37 34 34 39 41 17 29 28 213 41 44 4 44 3 26 37 51 324 312 323 797 625 1,508 1,280 1,289 1.313 1,173 2,127 2,351 1,504 740 690 90 1950 1951 1952 6,669 7,796 8,807 2,367 3,411 3,932 645 678 850 1,281 1,542 1,643 1953 (Estimated) 1954 (Estimated) 9,084 9,547 4,435 4,780 773 794 1,553 1,596 1952 -July August September.. 738 959 427 184 439 249 49 86 54 Ootober .... November December. 401 975 747 222 538 469 48 263 286 920 118 492 . . 1953 -January February... 85 59 14 91 Souroe: See Table 1. 1/ Consists of Civil Service and Foreign Service Retirement funds. 2/ Includes Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, Island possessions, Increment resulting from reduction In the weight of the gold dollar, and through June 195° 3/ 8/ 92 1.434 1,386 1,623 1,807 1,924 . funds and accounts 1,038 1,666 792 1.174 529 7,036 7,715 6,244 6,515 37 5,714 . Other trust 557 614 578 594 680 1945 1946 1947 1948 1949 13 Government employees retirement funds l/ 97 103 134 1 2 2 ) ; 31 29 seigniorage on silver under the Silver Purchase Act of 1934. Thereafter such seigniorage is Included with other seigniorage under budget receipts Excludes Foreign Economic Cooperation Trust Fund (see page 1). - . . ' April 195) -TRUST ACCOUNT AND OTHER TRANSACTIONS. Table 3.- Trust Account Expenditures Other Than Net Investments (In millions of dollars; negative figures are excess of credits) Federal Old -Age aad Survivors Insuranoe Trust Fund Fiscal year or sooth -J.58 267 358 Railroad Retirement Aoaount 128 280 282 302 3*8 25 50 67 30lt 2,026 900 1,0*9 2,988 6l* 996 11* *82 926 977 179 169 208 39 38 37 587 367 617 221 220 262 38 38 296 3*6 230 237 39 38 1950 1951 1952 6,950 3,9*5 *,952 2,067 ,5*1 ,287 2,651 3,169 >>66 *73 556 -73 Ootober. Nov ember. December . . . . . . . 1953 -January .... February. . Government Life Insurance Fund 71 1,1*6 869 859 1,31* *,*7* 3,685 3,857 3,82* */ 1952 -July August September. Rational Service Life Insuranoe Fund 1*1 152 173 222 278 19*5 19*6 19*7 19*8 19*9 1953 (Estimated) 195* (Estimated) Unemploy ment Trust Fund 1.66 559 661 78* 1,569 321 391 39 Government employees retirement Other trust funds and accounts funds 1/ 8/3/ 70 61 151 267 323 2k* 222 *28 1,57* 1,073 1,23* 526 */ Deposit fund accounts (net) 37 -1,669 6*7 372 367 *1* 268 271 300 370 387 *13 -19* -3*6 57 705 629 367 38* 70* 670 -360 -106 92 116 71 6k *8 *9 27 26 28 71 2* 18 129 -*90 5* *9 *1 18 31 30 31 23 1* *3 ** 30 *1 29 32 *9 77 100 9* Sourcet See Table 1. 1/ Consists of Civil Servioe and Foreign Service Retirement funds. 2/ Includes Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, expenditures chargeable against increment on gold, and beginning 1930, Mutual Defense Assistance Trust Fund. 2/ kj 5/ 77 82 *1 96 -8 166 -31 11* -192 -136 Exoludee net investments in public debt securities beginning 1951 (see Table h, footnotes 3 and U). Excludes Foreign Economic Cooperation Trust Fund (see page 1). Includes transactions by the Air Force and the Army beginning 1952. Table 4.- Net Investments of Government Agencies in Public Debt Securities^ (In millions of dollars; negative figures are excess of redemptions) Treasury Bulletin 10 .TRUST ACCOUNT AHD OTHER TRANSACTIONS ' Table 5.- Federal Old-Age and Survivors Insurance Trust Fund (In millions of dollars) - lj April mj 11 .TRUST ACCOUNT AND OTEKR TRANSACTIONS. Table 7.- Unemployment Trust Fund Treasury Bulletin 12 .TREASURY CASH INCOME AND OUTGO. Table 1*- Stannary of Cash Transactions (In millions of dollars) Cash operations other than borrowing Cash operating outgo Oaah operating Income Fiscal year or month Cash trust Cash budget account expendi- expendi- Cash trust Cash budget account receipts receipts turea 1945 19*7 1948 1949 95,952 -768 57,!*22 "*,316 43,591 33,190 3,270 1,026 4l,8o4 1*5,1*00 32,1*82 2,91*4 563 38,11*5 3,1*83 1*1,628 37,517 3,328 98 -555 507 -366 36,925 l*,0l*6 6,868 3,807 -1*83 43,155 5,552 5,102 -13 9 211* 1*5,801* 68,093 36,977 41,795 62,599 -207 1*7,887 1*0,970 53,"*39 1*01 67,956 6,W*1 6,769 74,953 75,228 71,313 75,505 5,5"*? 11 -25 76,81*3 5 81,801 300 831 316 3,593 6,211 1*68 -Ik -1*32 11,878 l*,8l*8 551* 25 6,898 5,911 -7". 6,21*2 l*,950 61,991 1953 (Est.)... 1954 (Eat.)... 1952 -July August. 68,512 68,1*60 3,292 . l*,01*7 l*,529 78 7,1.39 -10,1*60 302 60 37 -19,389 -7,280 -2,513 -10,930 3j 1,621. -1,1*62 1*6 25 1,839 -388 "*3 -1,891 -6,57» 921 6,57* -969 -2,61*0 3,597 957 195 229 6,233 5,622 6,066 -744 -229 -628 -973 5 5 201* 5 589 -316 6,51"* 21*3 -1,01*1* 2,116 2,022 -527 -981 361* -3,097 -561 -1,572 5 3 5 -I78 -376 335 2 6,000 6,292 322 388 3,4i8 4,997 6,320 6,620 59U 5,018 5,239 6,267 5,555 5,1*75 221 792 5,1.27 287 344 37,591 I»,0l8 1*1,609 k5,765 3,127 1953 to date. 1.9,1.71. -5,795 -525 l*,9l*7 3,096 4,149 5,932 February. Memorandum! Net reoelpte from exercise of monetary authority 2/ 2,01*7 October.. November Deo ember. . 36,1*96 1*0,576 9*5 -17,899 6,659 8,903 1,051 -1*1*, Increase, or decrease (-), In General Fund balance 1*,231 6,583 81*8 95,19* 61,738 36,931 Net cash borrowing, or repayment of borrowing (-) -2,185 7,635 137 September 1953 -January Income, or outgo (-) 50,21*0 1*3,839 39,881* 1950 1951 1952 tures Clearing account for outstanding checks, etc. 4,937 3,707 3,595 519 38,902 fc5 # 19>t6 l*,721 Exchange Stabilization Fund 1/ Net cash operating 5 1*5 5,558 7,364 -1*01 5,1*1.2 2 5,75"* -203 513 48,554 -6,91.5 -19 -3 Source: Actual figures based on Dally Treasury Statement; estimates based on 1951* Budget document, released January 9, 19531/ The U. S. subscription to the capital of the International Monetary Fund vas paid in part from the Exchange Stabilization Fund (see "Treasury Bulletin" for September 1947, page 17). 2/ consists of seigniorage on silver and Increment resulting from reduction 832 -335 68 55 73 1,1*61 -91.5 It 3"* This Item is part of the oaah budget' receipts shown in these tables, but Is excluded from the Budget figures for "Receipts from the publlo". In addition to this decrease in the General Fund balance, the Exchange Stabilization Fund was drawn down by $1,800 million for subscription to the capital of the International Monetary Fund. in weight of the gold dollar. Table 2.- Derivation of Cash Budget Receipts (In millions of dollars) April 195) 13 .TREASURY CASH INCOME AND OUTGO. Table 3.- Derivation of Cash Budget Expenditures Treasury Bulletin 114- .TREASURY CASH INCOME AND OUTGO. Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing (In Billions of dollars) . . . April m> 15 .GENERAL FUND OF THE TREASURY. Table 1.- Status of the General Fund (la million* of dollar*) Assets Bullion, coin, currency End of f ieoal /ear or month Other 191*5 191*6 25,119 19>*7 3,730 5,370 3,862 1"*,708 19*8 19"*9 150 160 1,023 1,073 1,022 558 21*3 232 191 219 1950 1951 1952 5,927 7,871 1,052 1,01*6 191 176 7,1*81 1,009 1951 -December. l*,8l6 1952 -July August. September 8,520 7A39 1,001* 7,557 1,001 6,7*3 8,155 6,582 6,278 . Ootober II or ember Deo ember . 1953 -January February., . 6,561* Deposits in Federal Reserve Banks Available funds 1,500 1,006 1,202 1,928 1*38 In process of collection 123 103 Deposits In special depositaries depoe 1/ In LlaMlltlea the General Fund 22,622 12,993 962 1,773 1,771 289 305 310 283 309 1*21 21*, 698 1*70 lll,238 1.22 3,308 1*38 ">,932 392 3,1*70 323 380 1*10 1*81* 51* 512 5,517 7,357 6,969 1*3 250 19"* 950 338 333 355 3,268 5,680 5,106 1,033 173 321 11*6 2,693 **9 521 l*,295 1,010 181 175 179 638 181* *79 591. 1*96 106 161 6,027 5,190 5,217 1*68 1*87 1*91 *01 7,925 6,952 7,156 1,006 999 1,007 163 162 171* 6,175 7,636 160 770 396 389 1,002 989 19 1* 186 811 351 1$ 508 *,1*5 1*85 103 5,981* 511 176 I*, 368 1*83 568 519 518 3 3,318 1,376 603 589 1*88 51*0 5? IT1* Source: Daily Treasury Statement. 1/ On account of withheld taxes and sales of OoTaraaent securities. Table 2.- General Fund Balance by Months (End of month. In millions of dollars) Year Otter depoelte and collections 6,061. Treasury Bulletin 16 .DEBT OUTSTANDING. Table 1.- Summary of Federal Securities (In millions of dollars) Total outstanding of fiscal year or month Interest-bearing debt Matured debt and debt bearing no interest Rnri Public debt Guaranteed securi- Publlo debt ties 1/ 19*5 1946 258,682 433 269,1*22 1*76 258,286 252,292 252,770 90 W»9 259,115 269,898 258,376 252,366 252,798 1950 1951 1952 257,377 255,251 259,151 257,357 255,222 259,105 20 29 1953 (Est.)... 195k (Est.)... 263,968 273,843 263,900 273,800 68 Debt peak: fob. 1946... 279,764 279,21"* 551 1951 -Dec amber. 259,461 259,419 1952 -July August. September 263,107 863,225 262,722 263,073 263,186 262,682 1*0 261,098 260,615 October. November December. 26k, 96* 26k, 919 1*5 262,861* 267,1183 267,1*32 267,391 51 5k 265,39k 267,445 267,1*50 267,631* 267,1*02 267,581* 1*8 265,370 265,538 19"t 7 1948 . 1953 -January . February. Source: I95I* 73 27 1*6 256,766 268,578 255,197 250,132 250,785 256,357 268,111 255,113 250,063 250,762 255,226 252,879 256,907 255,209 252,852 256,863 Guaran- Public debt teed securities 1/ International Bank 2/ 1*09 1*67 83 69 si* 17 27 i»i* 2,350 1,321 3,179 2,23k 2,012 2,326 1,311 3,173 2,229 2,009 269 376 231 280 2,150 2,372 2,244 2,11*8 265 512 kl9 2,370 2,21*2 n.a. n.a. 43 34 39 n.a. n.a. 66 1.1 n.a. n.a. 1,72k 1,161 1,063 Other 1/ 2,057 935 802 722 660 Guaranteed securities 1/ (matured) 21* 10 6 5 3 1,270 1,283 1,27k 613 575 2 2 550 1 n.a. n.a. n.a. n.a. 278,1*51 277,912 539 1,313 1,301 238 1,063 12 257,111 257,070 1*0 2,350 2,31*8 1*92 1,296 560 2 260,91*0 260,908 261,060 260,577 33 2,166 2,127 2,106 2,165 2,125 2,105 331 319 300 1,288 1,263 1,263 5k6 54k 2 51*2 1,263 1,263 1,258 539 539 536 1 1,258 1,277 535 533 1 265,31*6 50 21*5 1.16 Monetary Fund 2/ 38 39 262,820 265, 3k5 265,293 k3 2,100 2,089 2,100 2,099 2,087 2,098 297 286 53 265,323 k7 k9 2,080 2,096 2,079 2,09k 286 1*9 265,1*89 Actual figures from Dally Treasury Statement; estimates baaed on Budget document, released January 9, 1953. 301* 281* 2 1 1 1 1 Footnotes at end of Table 2 Table 2.- Net Change in Federal Securities (Increase, or decrease (-), In millions of dollars) Total outstanding Fiscal year or month Public debt GuaranPublic debt ties 1/ 19k5 19k6 19k7 19k8 19k9 10,783 -11,523 -6,010 1*32 57,679 10,740 -11,136 -5,99k 478 1950 1951 1952 k,579 -2,126 3,900 4,587 -2,135 3,883 16 1953 (Est.)... 195k (Est.)... k,8l7 9,875 4,795 9,900 -25 1952 -July August. 3,956 118 3,968 113 56,1*89 . September -503 -504 October. Kovember December. 2,21*3 2,238 2,519 -38 2,513 -41 5 184 11 182 1953 -January . February. 1/ 2/ Matured debt and debt bearing no interest Interest-bearing debt Guaranteed securi- -1,190 43 -387 -16 -46 10 28 -11 5 1 Guaran- Public debt teed securities International Bank 2/ Monetary Fund 2/ 782 -1,029 1,858 866 -1,014 1,862 -91*6 -91*1* -221 17 138 222 -128 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 4,045 -12 152 5 1 -77 -39 -21 -78 -39 -20 -88 -12 -19 -6 -12 11 -11 18 -5 -18 -2 19 55,707 11,812 -13,381 -5,065 653 56,813 11,754 -12,997 -5,050 698 -1,107 58 4,1*1*1 4,1*1*8 -2,347 4,028 -2,358 4,011 -7 10 n.a. n.a. 4,034 157 -383 -14 -45 -2 -1 -220 49 -35 -350 -25 139 222 20 -41 207 -47 247 -128 -93 13 -9 -38 -26 n.a. n.a. n.a. n.a. -483 -481* 2,244 2,525 3 -49 -52 3 -6 -12 11 -6 2 24 168 30 166 -6 -19 -19 2 16 16 Excludes guaranteed securities held by the Treasury. The Interest-bearing debt shown here consists of F. H. A. debentures and C. C. C. demand obligations; details bv Issues appeared In the "Treasury Bulletin" for August 1951 and In previous Issues; currently the amounts outstanding are shown each month in the "Treasury Survey of Ownership", Tables 3 and 4. Special notes of the united States Issued to the International Bank and the International Monetary Fund In payment of part of the United States subscriptions to these Institutions, pursuant to provisions of the Bretton Woods -83 -14 -133 -80 -62 1,724 -563 -98 n.a. n.a. 14 -1. -25 -2 -2 -I* teed securities 1/ ( matured 798 -1,122 416 2,249 2,530 6 i/ -145 5 6 5 68 108 Other -3 -1 -1 n.a. n.a. -2 -1 -2 -2 -1 Agreements Act. The notes bear no interest, are nonnegotlable, and are payable on demand Includes savings stamps, excess profits tax refund bonds, and currency Items. For current-month details, see "Statutory Debt Limitation", Table 2. * Less than $500,000. n.a. Not available. 3_/ April m> 17 JJKHT OUTSTAKDHC. Table 3.- Interest-Bearing Public Debt (In millions of dollar*) treasury Bulletin IS .DEBT OOTSTANDHC. Table 5.- Special Issues to United States Government Investment Accounts (In millions of dollars) End of fiscal year or month April 1955 19 .DEBT OUTSTANDING. Table 7.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies 1/ Treasury Bulletin 20 DEBT OITTSrAHDIlC. Table 8.- Public Debt and Guaranteed Securities Outstanding by Months (End of m on th, In millions of dollars) Apr. May July Public debt 193* 1935 1936 Aug. Sept. Oct. Not. : . : 21 April 195) STATUTORY DEBT LIMITATION and the face amount of under authority of that act, obligations guaranteed as to principal and Interest by aggregate J275 billion outstanding at any Obligations Issued on a discount basis, and redemption prior to maturity at the option of are Included In the statutory debt limitation the United States (except guaranteed obligations held by redemption values. The Second Liberty Bond Act, as amended, ( Jl U.3.C. provides that the face amount of obligations Issued 757 b), the Secretary of the Treasury), one time. subject to the owner, at current shall not exceed In the Table 1.- Status under Limitation, February 28, 1953 (In millions of dollars ) MHTirmrm amount of securities which nay be outstanding at any one time, under limitation Imposed by the act of June 26, 191*6 (31 U.S.O. 757 b) 275,000 Amount of securities outstanding subject to such statutory debt limitation: 266,973 U. S. Government securities Issued under the Second Liberty Bond Act, as amended Guaranteed securities (excluding those held by the Treasury) • 267,023 Total amount of securities outstanding eubjeot to statutory debt limitation Balance issuable under limitation Source: • • 7 ' 977 7 • • Bureau of the Public Debt. Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding February 28, 1953 (In millions of dollars) Subject to statutory debt limitation Class of security Hot subject to statutory debt limitation Total outstanding Public debt: Interest-bearing securities: Marketable Treasury bills Certificates of Indebtedness Treasury notes Treasury bonds - bank sllgible Treasury bonds - bank restricted l/... Postal savings and Panama Canal bonds. 21,710 15,958 30,282 59,359 21,012 21,710 15,958 30,282 59,359 21,012 11*8,321 Total marketabls. Nonmarketable U. S. savings bonds (current redemption valus) Treasury savings notes Depositary bonds Treasury bonds, investment series... 12U 121* 12U 11*8,1*1*5 399 58,268 5,6U2 399 13A33 13A33 77,71*2 77,7*2 58,268 5,61*2 Total nonmarketable 39,302 39,302 Special issues to Government sgencles and trust funds. 265,365 Total Interest-bearing securities 121* 265,1*89 2&T 280 Matured securities an which Interest has ceased Debt bearing no Interest: United States savings stamps Exoeee profits tax refund bonds Special notes of the United States: International Monetary Fund Series United States notes (less gold reserve) Deposits for retirement of national bank and Federal Reserve Bank notes. Other debt bearing no interest. Total dsbt bearing no interest. Total public debt. 50 2 50 2 1,277 191 286 1,277 191 286 6 6 1,328 1*82 1,810 266,973 611 267,581. Guaranteed securities: Interest-bearing Matured ^9 1 >*9 Total guaranteed securities 50 50 267,023 Total public debt and guaranteed securities. Source: Bureau of the Public Debt. 1/ Issues which commercial banks may not acquire prior to opacified dates 2/ 1 611 (with minor exceptions). See "Debt Outstsndlng" , Table Excludes guaranteed sscuritlss held by the Treasury. 267,631* 3, footnote 1. Treasury Bulletin .DEBT OPERATIONS. Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding February 28, 1053 ^ (In millions of dollars) Amount of maturities Description of security 2/ Ptred maturity UeuM Bills Bills (Tax Anticipation Series).. Callable Issues classified by year of: First call Final maturity Amount of maturities Date bank restricted issues became bank eligible 3/ Year and month lBBuea 1956 Mar. "*,901 Bills 6,901 5,"*03 2,003 I*, 963 725 2$ Certificate - 8/15/53-c 2* Bond k/ - 9/15/51-53 7,986 - 10,51*2 - 12/1/53-A 12/15/51-55 - 6/15/52-51* - 6/15/52-55 - 12/15/52-51* 2)6 2)6 2-lA$ 2)6 Bond Bond Bond Bond 57 57 57 5/ Total 3/15/56-58 Apr. 1-1/2* Note - U/I/56-EA June. 2-lA$ Bond - 6/15/5U-56 Bond Bond - 9/15/56-59 9/15/56-59 Sept 2-1/8)6 Koto 2-1/2)6 Bond - Oct.. 2-3A* 2-lA$ - 1-1/2$ Note IO/1/56-EO Total 2,882 510 5,825 1,501 8,662 1*8,807 1957 Mar.. 16A99 3/15M-A 6/15/52-5"* 2-1 A* 2)6 Bond 32/15/52-5"* 550 3/15/57-59 l*/l/57-EA 531 Oct. 1-1/2$ Note IO/1/57-EO 758 - 6,253 681 927 1,289 2-1/2)6 Bond - 3/15/56-58 2-3/8)6 Bond 6/15/58 6/15/58-63 1*,2"*5 12/15/58 620 927 1,1*1*9 919 8,111* - "*,675 Total 2)6 982 3,822 1-1/2)6 Note - 2-1/2$ Bond Bond Bond 681 Apr. 2-3A* Bond 1-3/8)6 Note Final maturity 1,1*1*9 2-3/8)6 Bond - 1958 Mar. 2/15M-A First call 1,007 1,557 Total 2-lA$ Certificate Callable Issues classified by year of: 2,502 Bills Bills (Tax Anticipation Series).. 1-1/8% Certificate 6/1/53-B 2 Bond 6/15/53-55 Description of security 2/ Filed maturity "•,865 919 1,1*1*9 5,825 681 6/15M-56 8,662 1959 Total 12,789 681 11*, 1*87 Mar.. 2-3/8)6 Bond - 3/15/57-59 June. 2-lA$ Bond - 6/15/59-62 Sept. 2-3A$ Bond 2-lA$ Bond - 9/15/56-59 9/15/56-59 2-lA$ Bond - 12/15/59-62 Dec.. Total 1-1/2)6 Note 2-7/8)6 Bond 3/15/55-A 3/15/55-60 2-lA$ Bond 6/15/52-55 Bond Note 12/15/51-55 12/15/55-B 1-3A$ 8,7"*8 5,731 2,611 1,501 I960 2-7/8$ Bond - 3/15/55-60 2-3A$ Bond - 12/15/60-65 2,6ll 510 6,85". 12,219 Footnotes at end of table. 3,822 3,"*68 5,365 Mar.. 2)6 927 5,280 2,611 2,011 Total (Continued on folloving page) 1,"*85 1,1*85 2,611 April 195) 23 .DEBT OPERATIONS. Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding February 28, 19531/- (Continued) Treasury Bulletin 24 DEBT OPERATIONS. Table 2.- Offerings of Treasury Bills (Dollar amounts In millions) Description of nev Issue days to Amount of bids maturity tendered. Number of Maturity date Amount of bids accepted Total amount On competitive basis On nonoompetltlTS basis jj In exchange Amount maturing on Issue date of new offering Total unmatured Issues outstanding after nev Issues Regular Series: 1952-Hov. 6.. Hot. 13.., Hot. 20.. Hot. 28.., Peb. 5. Feb. 13. Feb. 19. Feb. 26. Deo . I* Sec. 11.., Deo. 18.. Dec. 26.., 1953-Jan. 2.. Jan. 8.. Jan. 15.. Jan. 22.. Jan. 29.. 1,300.1 1,500.8 1,300.3 1,299.9 17,210.7 17,210.8 17,211.0 17,211.1 .0 1,300.3 1,200.9 1,202.8 38.3 1,200.1* 17,211.6 17,211.0 17,208.1 17,208.0 1,301.0 1,500.9 1,300.5 1,300.0 1,083.0 1,261.2 1,069.0 1,109.6 218.0 239.6 231.5 63.2 123.7 75.8 190.1* 1*8.6 1,300.7 1,200.3 1,200.0 1,200.3 1,118.1* 182.1. 231*. W..0 56.0 21*0.7 1.1. 223.2 39.0 1,200.0 136.1* 1,1*00.1 1,1*01.2 1,1*01.5 1,501.1* 91 92 91 90 2,116.3 2,222.9 Mar. 5. Mar. 12. Mar. 19. Mar. 26. 91 91 91 90 1,836. It Apr. 2. Apr. 9. Apr. 16. Apr. 23. Apr. 30. 90 91 91 91 91 2,098.2 2,057.8 2,036.0 2,127.1 2,383.8 1,200.7 991.1* 1,399.1* 1,1*00.2 1,166.3 1,1*00.1* 1,160.5 1,237.6 209.3 233.1 257.1 239.9 262.9 Feb. 5 .. Peb. 13 .. Feb. 19 .. Peb. 26 .. May May May May 2,133.0 2,386.0 2,291-5 1,993.1 1,300.1* 1,083.1* 217.0 1W..3 1,500.5 1,301.2 1,300.7 1,259.9 1,059.2 21*0.5 21.2.0 151.. 21. 28. 91 90 91 91 1, 10it.it 196.3 76.5 63.5 Mar. 5 p Mar. 12 p Mar. 19 p Mar. 26 p June 1*. June 11. June 18. June 25. 91 91 91 91 1,997.5 1,301.1* 2,1*1*2.1 2,388.0 2,229.6 1,201.9 1,200.5 1,200.7 1,102.7 971.8 925.5 959.8 198.7 230.1 275.0 39.9 71.2 57.7 2lf0.9 1*3.9 3,279.1 3,923-3 2,501.9 2,002.7 2,300.7 1,776.3 201.2 . 7. H. l,90l>.9 1,862.6 1,91*3.7 1,713.1 1,775.2 1,500.1* 966.1 959.3 977.1 1,11*3.1 227.5 11*5.7 53.1* 1,301.0 1,500.9 1,300.5 1,300.0 1,300.7 1,200.3 1,200.0 1,200.3 17,208.7 17,208.0 17,207.0 17,205-9 17,201*. 17,20l*.2 17,203.9 17, 201*. 17,205-3 17,205.9 17,207.5 17,208.0 17,208.3 Tax Anticipation Series: 1952-Oot. 8. Hot. 21. 1953-Mar. 18.. June 19.. 161 210 226.1. 2,002.7 J 25 April 195 DEBT OPERATIONS. Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness Period fron Issue date to - Issue late Description of security Maturity First call Amount of subscriptions tendered Cash 1/ Exchange Amount Issued Tor cash 1/ In exchange for other securities (In millions of dollars) 2/lA7 3/lAT VlA7 6AA7 7AA7 8/1A7 9AA7 9/15A7 10/1A7 U/1A7 12/1A7 1/lAS 2/1A8 3/1A8 U/1A8 6/1A8 7/1A8 9/15 A8 10/1A8 12/15A8 1/1A9 2/1A9 3/1A9 U/1A9 6/1A9 7/1A9 9/15A9 10/1A9 12/15A9 1/1/50 2/1/50 3/1/50 3/15/50 Vl/50 6/1/50 7/1/50 9/15/50 10/1/50 12/15/50 yi/51 6/15/51 8/1/51 9/15/51 10 A/51 10/15/51 10/1/51 12/15/51 3/1/52 3/1/52 k/i/pe 7/1/52 7/1/52 8/15/52 10/1/52 10/1/52 8/15/52 2/15/53 2/15/53 7/8* Allotment ratio Treasury Bulletin 26 .DEBT OPERATIONS. Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness and Securities Guaranteed by the United States Government April 195J 27 .UNITED STATES SAVINGS BONDS. United States savings bonds were first offered In March 1935 an<3 began to mature In March 19^5. Series A-D were sold between March 1935 and the end of April 19>U, were first offered in May 1941. and Series E, F, and When Series E began to mature on May 1, To redeem the bonds In cash In accordance with the original terms; to retain them with an extended maturity of 10 years at specified rates of Interest aocrual; or to exchange them for Series (J bonds. A number of changes became effective 1, 1952. The principal ones were: The rate of Interest accrual on Series E was Increased, especially for the near term, with corresponding changes In extended Series E; and Series F and (J A new current -Income similar In Interest return to Series E, was offered beginning Junel. For details of these changes Series H, see "Treasury Bulletin" for May 1952, cage A-l. 1951, owners of the matured bonds were offered three options: May and K, also at higher Interest rates. bond, were replaced by two new issues, In the tables which follow, Series A-F and J sales are shown at Issue price and total redemptions and amounts outstanding at current redemption values. Series 0, H and K are shown at face value throughout. Matured bonds which , have been redeemed are Included In redemptions. Data by denomlnatlone and sales by States are published on a monthly basis but not In each Issue of the "Treasury Bulletin". Series J Table 1.- Salee and Redemptions by Series, Cumulative through February 28, 1953 (Dollar amounts In millions) Series Treasury Bulletin 2S .UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions by Periods, Series E through K (Dollar amounts in millions) Accrued discount Period Redemptions Sales plus accrued discount Sales price 3_/ Accrued discount Amount outstanding (Interestbearing debt) Monthly redemptions as percent of amount outstanding Series £ and B combined Fiacal years: 12,001 11,820 11,553 6,739 1941-1943 1944 19*5 1946 19*7 19*8 1949 1950 1951 1952 1,287 35 118 265 434 536 4,026 It, 278 3,993 3,272 3,296 633 753 895 1,035 1,111 17, 1*78 80 182 353 12,035 11,938 11,818 7,173 4,824 4,659 5,032 It, 887 It, 307 lt,lt07 7"t9 2,100 3,846 5,912 li,391 3,825 3,530 3,521 4,295 It, 008 3,583 136 162 195 307 425 11,287 21,125 29,097 30,358 30,791 31,625 33,127 34,494 34,506 3*, 905 1,598 2,993 4,925 5,330 3,813 3,575 3,274 3,667 3,688 3,622 p 2 11 38 93 116 154 174 245 348 475 P 15,957 25,515 30,727 30,263 30,997 32,188 33,766 34,493 34,727 35,324 748 2,095 3,825 5,843 4,288 3,689 3,368 3,326 3,987 1 5 20 69 103 Calendar years: 1941-194 3 1944 19*5 19*6 1947 12,380 9,822 4,466 *,085 4,224 1(93 17,558 12,562 10,175 4,959 4, 66k 3,668 3,190 3,575 579 696 818 971 1,080 1,120 Months 1952 -July August. September 316 309 290 107 78 83 Il22 October November December. 310 271 33* 76 91 123 386 44i 108 1*8 li,208 19*9 1950 1951 1952 . . 1953 -January . February. 362 4,920 5,025 t, 639 4,270 It, 6olt 1,601 3,005 4,963 5,423 3,930 3,728 3,448 3,912 4,036 4,098 377 319 337 33* 279 299 44 40 38 34,950 35,019 35,055 35, U6 33 35,206 35,324 442 361 296 284 239 299 P 320 p 251 P 41 456 325 272 338 387 373 362 39 P 41 p 45 P 35,511 35,657 1.08 91 • .96 93 .77 • • 96 1.02 .83 .. April 1957 29 .UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued) (In Billions of dollars) Accrued discount Redemptions Sales plus accrued discount 2_/ Sales price $J Accrued discount Amount outstanding (lntareBtbearlng debt) Fiscal years: 1941 and 19k2. 19*3 19kk 19*5 19k6 19k7 19k8 19*9 1950 1951 1952 3,729 8,271 11,820 11,553 6,739 4,287 It, 026 k,278 3,993 3,272 3,266 1 33 118 265 434 536 633 753 895 1,035 1,111 3,731 8,30k 11,938 11,818 7,173 4,824 4,659 5,032 4,887 4,307 4,377 60 689 2,100 3,846 5,912 k,391 3,825 3,530 3,521 k,295 k,O08 60 688 2,095 3,825 5,8»3 20 69 lt,288 103 3,689 3,368 3,326 3,987 3,583 136 162 195 307 k25 7,144 220 1,380 3,005 220 1,378 2,993 k,925 5,330 3,813 3,575 3,27k 3,667 3,688 3,622 p 1 5 3,671 11,287 21,125 29,097 30,358 30,791 31,625 33,127 34,494 3k, 506 3k, 875 Calendar years: 19k 1 and 19k2. 19*3 19kk 19*5 19*6 19*7 19*8 19*9 1950 1951 1952 7,13k 10, 344 12,380 9,822 4,466 4,085 4,224 4, 208 3,668 3,190 3,393 Months: 1952 -July August September 280 282 267 107 78 286 310 76 91 123 397 329 108 80 — October. November December 1953 -January . February. 253 10 70 182 353 493 579 696 818 971 ,080 83 10, 414 12,562 10,175 4,959 4,664 4,920 5,025 4,639 4,270 k,513 11,098 386 360 350 377 319 337 363 325 272 338 33k 279 299 28k 239 299 P 361 295 319 P 251 P 31* k33 505 U08 Series H 4/ Flaoal year: 963 5,k23 3,930 3,728 3,kk8 3,912 It, 036 It, 116 15k 17k 2k5 3k8 k75 P 6,923 15,957 25,515 30,727 30,263 30,997 32,188 33,766 3k,k93 3k, 727 35,lk3 44 40 38 3k, 926 3k,939 111 3k, 976 33 35,Ok8 35,lk3 2 11 38 93 39 P kl p k5 P 34,881. 35,287 35,kOO Treasury Bulletin 30 .UNITED STATES SAVINGS BONDS. Table 3«- Sales and Redemptions by Periods, Series E through K - (Continued) (In millions of dollars) Accrued discount Sales plus accrued discount Series F £/ Fiscal years: Red empt Ions Sales price Accrued discount Amount outstanding (interestbearing debt) April my 31 .UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued) (In millions of dollars) Sales 2/ Acorued discount Sale a plus accrued discount Series G 5/ Fisoal years: Redemptions Sales prloe Accrued discount Amount outstanding (interestbearing debt) Treasury Bulletin 32 .UNITED STATES SAVINGS BONDS. Table 4.- Redemptions of Matured and Unmatured Savings Bonds (In wmirmw of dollars) Matured bonds 8/ Unmatured bonds 9_/ Series I Period 1/ Total nut tared Fl8oal jears: 1951 1952 Series A-D 6,137 5,109 817 792 779 90 5,910 5,651 987 987 522 5,0711 772 1,015 *68 399 90 83 1(17 lor cash In exchange for Series O of K Total unmatured Sales price Acorued disoount 38 702 37 69* 5,320 317 H.996 "t, 32k 271 2U5 962 *,853 It, 879 t, 059 l»,583 250 968 3,806 270 308 253 78 86 80 76 79 75 378 316 338 35k 295 317 2» 21 21 398 3U6 88 85 71 1(22 88 69 87 &* 69 86 311 275 289 258 315 21 17 *35 369 101 112 98 109 98 33"> 109 257 Calendar years 1930 1951 1952 - 1.7 "•,571 Months: 1952 -July August September October. November December. . . 1953 -January.. February. . Source: Dally Treasury Statement. 1/ Details by series on a cumulative basis and by periods for Series A-D combined will be found In the February 1952 and previous Issues of the "Treasury Bulletin" 2/ Includes exohangee of matured Series 2 bonds for Serlee 0- bonds beginning May 1951 and for Series E bonds beginning May 1952. 3/ Includes both matured and unmatured bonds; see Table It. \l Sales began June 1, 1952. 333 19 18 236 19 Sales were discontinued after April 30, 1952. Sales began May 1, 1952. Comparable data are not available prior to January 1950. Of the total maturity value, 75f, Is Issue prloe and 25£ la acorued discount. Includes redemptions not yet classified. Lees than $500,000. Preliminary. . April 195) 33 TKEASUKY SAVJJKJS NOTES Treasury tax and Barings notes have been Issued In Tax Series A from August 1, 194l, through Issue. For details concerning terms and conditions, Invest- five series: ment yields, June 22, 1943; Tax Series B from August 1, 194l, through September 12, 1942; Savings Series C (originally designated Series A and see "Annual Report of the Secretary of the Treasury" for 1942, pages 207 and 220, and for sales and Tax Series C) from September l4, 1942, through August 31 1943; 3avlngs Series D from September 1,1948, through May 14, 1951; redemptions by flsoal years and months, see "Treasury Bulletin" for February 1946, pages 42 and 43. , and Savings Series A beginning on May 15, Details 195L concerning terms and conditions for purchase and redemption and Investment yields of Savings Series A appear in the June 1951 Issue of the "Treasury Bulletin", page A-l. and tax payment or redemption values of B, Similar Information with reepect to Savings Series D In the following tables sales and redemptions of Treasury savings notes are shown at par value. Matured notes redeemed (either for oash or for tax payment are lnoluded In the figures on redemptions. Matured notes ) outstanding are refleoted In the. Interest-bearing debt will be found In the October 194g and September 1949 Issues, until all notes of the series have matured, when they are and with respect to Savings Series C In the October 1945 transferred to matured debt upon which Interest has ceased. Table 1.- Sales and Redemptions by Series, Cumulative through February 1953 (In millions of dollars) 3* Treasury Bulletin .OWNERSHIP OF FEDERAL SECURITIES. Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues (In millions of dollars) . . ... . . . 9 8 . 6 5 9 . 5 7 3 6 9 9 April 195) 35 .OWNERSHIP OF FEDERAL SECURITIES. Table 3.- Estimated Ownership of Federal Securities (Par values 1/ - in bllllone of dollars) Held by banks Total Federal securities outs tend 1*6 2/ End of month Held by private nonbank investors U. S. Commercial banks 3/ Federal Reserve Banks Individuals 5/ Government Investment accounts kj Savings bonds Insurance companies Mutual savings banks 1939-Dec amber. 1*7.6 18.1* 15.9 2.5 6.5 22.7 10.1 1.9 8.2 6.3 3.1 19^0-June December. 1*8.5 18.6 19.5 16.1 17.3 2.5 2.2 7.1 7.6 22.8 23.9 10.1 10.6 2.6 2.8 7.5 7.8 6.5 6.9 3.1 21.8 23.7 19.7 2.2 2.3 8.5 9.5 25.0 31.0 11.2 13.6 3.6 21.lt 7.6 8.2 7.1 8.2 2.6 6.2 10.6 12.2 37.7 53.0 17.8 23.7 9.1 8.7 10.3 7.2 lit 67.O 81.7 30.9 37.6 50.9 1941- June December. 61*.3 19U2-June December. 77.0 112.5 28.7 26.0 1*7.3 ltl.1 19>t3-June 11*0.8 52.2 59.9 83.3 55.3 December. 170.1 59.4 71.5 19^4-June December. 202.6 232.1 96.5 68.U 77.7 19^5-June December. 259.1 278.7 106.0 115.0 19lt6-February (Peak) 279.8 269.9 259.5 IJ.6.7 93.8 108.2 97.9 81* 258.1* .3 Corporations 6/ State and Miscellocal laneous governinvestors ments 2/ 2.1 2.0 .1* 3.2 .5 .7 .7 .7 3."t 2.0 .6 3.7 1*.0 .7 .9 9.2 11.3 3.9 it. .9 l*.5 10.1 1.0 1.1 2.3 13.1 15.1 5.3 12.9 6.1 l6.lt 1.5 2.1 3.1* 21*. 11.7 12.9 15.1 17.1 17.3 19.6 7.3 8.3 20.0 3.2 21. It l*.3 6.1 7.0 9.6 10.7 22.9 22.0 5.3 8.3 6.5 9.1 11.1 11.5 11.8 19.9 17.7 15.3 6.7 6.5 6.3 8.9 8.6 8.1 12.1 12.0 13.9 14.1 7.1 7.3 9.6 12.0 11.5 13.6 1U.8 7.8 7.9 8.7 8.9 5.1* 13.1* 19.2 l*.l* 11.5 16.9 lit 19.1 21.7 100.2 1*6.3 18.8 lll*.0 53.3 31.2 36.2 .2 21.8 21*. 1*0.7 18.9 22.7 21* .3 27.0 128.2 136.6 59.5 90.8 61*. 1*2.9 21.1* 21*. 28.0 29.1 30.9 135.1 132.6 130.7 61*. 1 1*3.3 63.lt 1*3.5 S* .2 1*1*. 2 20.8 20.0 20.1 2lt.lt 71*. 22.9 23.8 23.3 91.9 91.3 70.0 68.7 21.9 22.6 32.8 133.7 131.3 66. 1* 21*. 65.7 1*5.5 1*6.2 20.9 31* .1* 19A 23.9 85.9 85.8 61*. 21.1* 23.3 35.8 37.3 130.7 129.7 65.8 65.5 1*7.1 1*7.8 18.6 17.6 22.8 62.5 252.8 257.2 82.1* 63.O 66.8 19.3 18.9 J8.3 1*8.8 ll.lt 15.7 17.0 9.6 1*9.3 20.5 20.1 8.0 66.1 17.9 16.8 11.6 39.1* 132.2 132.1 66.7 85.7 8.1 9.1* 1950 -June December. 257.1* 83.9 82.6 65.6 61.8 18.3 37.8 135.6 66.8 1*9.9 13"*.9 '65.2 1*9.6 11.6 10.9 19.0 20.8 8.7 39.2 17.0 15.6 19.8 20.8 9.7 10.5 1951-March June September. December. 255.0 255.3 257. * 259.5 39.8 13**. 65.3 1*9.3 61t.lt 1*2.3 63.7 1*9.1 1*9.0 I19.I 17.9 17.1 16.8 1>*.7 lo.it 10.5 10.2 10.1 9.8 21.1 21.2 21.6 9.1 9A 9.5 9.6 10.lt 132.9 132.2 131.8 1P.0 15.3 15.0 21.3 1*1.0 1952 -January.. February. March. ... 259.8 81*. 1*2.7 132.3 63.7 1*9.1 ll*.6 16.1* 260.lt 1*2.9 1*3.0 133.8 132.5 61*. 3 1*9.1 1*9.1 15.2 r 258.1 16.3 16.3 9.8 9.8 9.8 21.9 22.6 21.2 9.9 10.0 10.1 10.5 10.8 10.6 April. May... June. 258.3 260.0 259.2 132.3 132.9 130.8 61*. 1*9. Or 63.9 63.6 1*9.0 15. lr 11* .9r lU.6r 9.8 9.8 9.6 20.7 21.6 20.0 10.2 10.2 1*9. Or 16.2 16.0 15.7 10.1* 11.3 11.5 11.6 July August. . September. 263.1 263.2 262.7 6U .1 1*9. Or 15.1 63.8 63.7 1*9 1*9. Or 11*. 16.0 16.1 16.1 9.8 9.7 9.7 20.8 1*5.1 132.9 133.3 132.5 10.7 10.8 10.9 11.5 11.5 11.3 October. November December. 265.0 267.5 1*5.1 133.3 1*9. Or ll*.8r 11*. 8r 11*. 16.0 16.1 16.0 9.6 9.5 9.5 21.0 lx 1*9.2 10.9 10.9 11.0 12.0 12.2 11.7 1*9.3 lit 16.2 9.5 21.8 June December. .. 191*7- June December. 19l*8-June 252.1* December. 191+9-June December. . 1953 -January 1/ 2/ }J It/ 5y 257.0 .p 252.9 256.7 81* .k .9 80.7 57.8 81.1* 58.lt 83.2 59.5 61.6 22.9 23.0 23.7 23.8 83.8 82.6 62.1 61.2 60.1 22.7 22.5 22.5 60.5 6l.O 61.1 22.lt 1*3.2 83.3 8U.0 22.3 22.9 1*3.7 22.9 23.1 23.7 1*1*. 85.2 62.7 61.8 61.5 63.O 61*. 1 63.3 23.6 23.8 2U.7 1*5.5 131* .0 63.8 63.9 267.1* 86.5 87.9 88.0 1*5.9 133.6 61*. 267.5 86.6 62.6 23.9 1*6.0 131*. 9 61* 1 85.lt 85.5 81*. 1*2.0 Wt.3 6 1*5.0 United States savings bonds, Series A-F and J, are Included at current redemption values Securities issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury. Consists of commercial banks, trust companies, and Btock savings banks In the United States and In Territories and Island possessions. Figures exclude securities held In trust departments Holdings by Federal land bankB are included under "Miscellaneous Investors" instead of "U. S. Government Investment accounts" beginning June 30, 191*7, since the proprietary Interest of the United States in these bankB ended June 26, 191*7. Includes partnerships and personal trust accounts. Nonprofit Institutions and corporate pension trust funds are included under "Miscellaneous investors" 61* 61* 6/ 1/ 8/ .0 .5 1 .2 .Or 1*9. 15.1* llt.Sr Tr .9 2>t.9 21*. 9 21.2 18.7 21.3 20.8 21.1* 21.3 8.1* 10.7 10.6 10.6 12.1 Exclusive of banks and insurance companies. Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territories and island possessions. Includes savings and loan associations, nonprofit Institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances attH international accounts in this country. Beginning December 19^6, includes inveetaente by the International Bank for Eecons true t ion and Development and the International Monetary Fund In special nonlntereet-bearing notes issued by the U. S. Government. Preliminary. Revised. Treasury Bulletin 36 .TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1953 The Treasury Survey of Ownership covers securities Issued by the United States Government and by Federal agencies. The banks and Insurance oompanles Included In the Survey account for approximately 95 peroent of such securities held by all banks and Insurance oompanles Data were first published for the United States. March 31, 19ll, In the May 19^1 "Treasury Bulletin". In Section I - Information on the distribution of ownership by types of banks and Insurance companies is published each month. Additional Information showing the holdings of commercial banks distributed according to Federal Reserve member - bank olasses and nonmember banks Is published for June 30 and December 31. Securities Issued or Guaranteed by the United States Government Table 1.- Summary of All Securities ( Par values - ill millions of dollars April 195J 37 .TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1953 Section I - Securities Issued or Guaranteed by the United States Government Table 3.- Interest -Bearing Public Marketable Securities by Issues (Par values - In millions of dollars) Treasury Bulletin 3S .TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1953 Section I - Securities Issued or Guaranteed by the United States Government Table 3.- Interest-Bearing Public Marketable Securities by Issues (Far values - in willinnw of dollars) - (Continued) April 195} 39 .TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1953 Section II - Interest-Bearing Securities Issued by Federal Agencies but not Guaranteed by the United States Government (Par values - in millions of dollars) Treasury Bulletin 1+0 .MARKET QUOTATIONS, FEBRUARY 27, 1953Current market quotations shown here are over-thecounter closing quotations In the New York market for the last trading day of the month, as reported to the debentures. Treasury by the Federal Reserve Bank of New York. issued by Federal agencies but not guaranteed by the United States Government. Daily quotations have been published each month in the Treasury Department state- The securities listed in Section I Include all public marketable securities Issued or guaranteed by the United States Government except those not regularly quoted In the market. The issues excluded are postal savlnge bonds and Federal Housing Administration Section I - The latter are the only public marketable interest-bearing guaranteed securities outstanding. Section II lists the public marketable securities ment, "Prices and Yields of Public Marketable Securities Issued by the United States Government and by Federal Agencies" Securities Issued or Guaranteed by the United States Government Table 1.- Treasury Bills (Taxable) Amount J M April 195 .MARKET QUOTATIONS, FEBRUARY 27, 1953- Section I - Securities Issued or Guaranteed by the United States Government Table 3.- Other Taxable Issues - (Continued) (Price decimals are 32nds) Treasury Bulletin 1*2 .MAKKET QUOTATIONS, FEHRUAEY 27, 1953. Section II - Securities Issued by Federal Agencies but not Guaranteed by the United States Government Table 2.- Other Issues (Taxable) (Price decimals are 32nds) Price Price range 2/ Amount outstanding (millions) Change in Description mean from last month Central Bank for Cooperatives debentures $ltO 30 2-1/8* 2-1/2 2-5/8 - - 6/1/53 2/l/5» 6/1/5* 99.30 99.28 99.28 To first call Change from last men til Issue date Since first traded In 1952-53 High High Price Date Price Date Price Date ! 100.00 100.00 100.00 99.31 99.30 99.30 100.02 100.02 100.02 100.01 .'.a 99.12 99.30 99.30 95.2* 99 .2* 99.02 99.08 99.27 99.27 95.20 99.20 98.30 + .01 2.22)6 .11* + .02 2.57 2.68 .06 .07 1.99 2.11 2.2U .19 .13 .07 + .03 6/2/52 100.00 10/1/51 100.13 2/2/53 99.31 5/28/52 99.27 5/8/52 99.2* 2/26/53 99.27 12/26/52 100.00 12/28/51 100.13 2A/53 99.31 5/28/52 99.27 5/8/52 99.26 2/26/53 99.27 12/26/52 1/27/53 2A/53 Federal Home Loan Bank notes: 76 90 ll»0 2.30* 2.20 2.30 100.00 99.31 99.31 «/l5/53-C 5/15/53 -D 8/17/53 -B Federal Land Bank bonds: 11* 72 100 215 230 131 I it/ If 2-1 A* 2-1/2 2-1/2 - 1-3A - 2-5/8 - 2-3A - 2/1/53-55 11/1/5* 11/1/5* 10/1/55-57 5/1/56 5/1/58 lit/ 100.' .00i .00 +.ooj 100 .00} + .0OJ 8/15/52 100.02 11/10/52 11/17/52 100.01 2/25/53 11/17/52 100.01 2/25/53 1/27/53 100.02 11/10/52 1/2/53 100.01 2/25/53 1/26/53 100.01 2/25/53 1/27/53 1/2/53 1/26/53 13/ 99 .Oil 99.2* 99.2* 95.16 99.16 98.26 .0* .00 .00 + .06 .00 + -.07 2.65 6/ 2.60 2.60 2.77 6/ 2.75 2.97 Tax Anticipation Series. Quoted on a price basis beginning February 2, 1953. Prices are the mean of closing bid and ask quotations in the over-thecounter market, except that prices of Treasury bonds for the period prior to October 1, 1939, are closing prices on the New York Stock Exchange. "When Issued" prices are included In history beginning October 1, 1939* Dates of highs and lows, in case of recurrence are the latest dates Not called for redemption on March 15, 1953 Will mature on September 15, 1953. Callable on h months • notice on December 15, 1953* Yield to maturity. Market convention treats the yield to earliest call date as more significant when an issue is selling above par; the yield to • 2/1A5 105.31 3/12 A6 99.00 11/1/51 100. 2k lt/2l/52 99.21 1/2/53 99.31 12/23/52 99.25 10/1A9 100.12 9/22A9 9* .26 5/1/52 100.17 5/19/52 99.17 1/2/53 99.16 12/11/52 98.30 .05 .01 .01 .03 .00 .05 i/ 2/ 12/ 12/ 137 lit/ 12/26/52 100 .Ok 5/28/52 99.00 12/28/51 100.21* «/2l/52 99.2* 1/27/53 99.31 12/23/52 99.25 12/28/51 97.05 5/27/52 9*. 30 12/12/52 100.17 5/19/52 99.17 2/27/53 99.16 12/11/52 98.30 12/26/52 12/10/52 1/27/53 1/2/52 12/12/52 2/27/53 maturity as more significant when an issue is selling at or below par. Included In the average yield of long-term taxable Treasury bonds as shown under "Yields of Treasury and Corporate Bonds". For definition, see "Debt Outstanding", Table 3, footnote 1. All partially tax-exempt except Panama Canal bonds, which are wholly tax-exempt. Called on February 13, 1953, for redemption on June 15, 1953. Not quoted on February 27, 1953. Amount issued on March 2, 1953, was $9*t million. Excludes issues completely held by Farm Credit Administration agencies. The proprietary interest of the United States in the Federal land banks ended on June 26, 19^7. Callable on 15 days' notice on August 1, 1953. April m> *3 .MARKET QUOTATIONS, FEBRUARY 27, 1953. YIELDS OF TAXABLE TREASURY SECURITIES, FEB. Based on Mean PERCE of Closing Bid and Ask Quotations 27, 1953 Treasury Bulletin kk -YIELDS OF TREASURY AND CORPORATE BONDS. Table 1.- Average Yields of Long-Term Bonds by Periods (Percent per annum) Treasury bands Partially Taxable tax-exempt 1/ 1/ Treasury bondB Highgrade corporate bonds Partially tax-exempt i/ Annual series 2.79 2.69 2.74 2.61 2.41 2.26 1935 1936 1937 1938 1939 19*0 - Taxable Highgrade corporate 1/ bonds Treasury bonds Partially tax-exempt Taxable i/ Highgrade corporate bonds calendar year averages of monthly series 2.05 2.09 1.98 1.92 1.66 1/ 3.46 3.19 3.27 3.12 2.92 2.77 1941. 1942. 1943. 1944. 1945. 1946. 2.85 2.84 2.81 1950 -JSB.. Feb.. Mar.. 2.20 2.24 2.27 Monthly series - 2.46 2.47 2.48 2.37 2.19 1947. 1948. 1949. 1950. 1951. 1952. 2.25 2.44 2.31 2.32 2.57 2.68 2.57 2.81 2.65 2.60 2.86 2.96 2.54 2.54 2.55 1952 -Jan.. Feb.. Mar.. 2.74 2.71 2.70 2.96 2.89 2.96 2.67 2.75 2.64 2.60 2.54 2.44 averages of dslly series 1948-Jan.. Feb.. Mar.. 2.45 2.45 2.44 Apr. May.. June. 2.44 2.42 2.41 Apr. May.. June. 2.30 2.31 2.33 2.57 2.57 2.59 Apr. May.. June. 2.64 4/ 2.57 2.61 2.92 2-93 2.95 July. Aug.. Sept. 2.44 2.45 2.45 July. Aug.. Sept. 2.34 2.33 2.36 2.61 2.58 2.62 2.61 Oct.. Nov. 2.45 2.44 2.44 Oct.. Nov.. Dec. 2.38 2.38 2.39 2.65 37 2.66 2.66 July. Aug. Sept. Oct.. Nov. Dec 2.71 2.74 2.71 2.75 2.96 2.97 2.98 3.04 2.98 2.99 2.39 2.40 2.47 2.64 2.66 2.78 1953 -Jan. Feb. 2.80 2.83 3.06 3.11 Dec. Feb.. Max.. 2.42 2.39 2.38 2.73 2.73 2.71 1951 -Jan. Feb.. Mar.. Apr.. May.. June 2.38 2.38 2.38 2.70 2.71 2.72 Apr. May.. June. 2.56 2.63 2.65 2.88 2.89 July. Aug.. Sept. 2.27 2.24 2.22 2.66 2.60 2.59 July. Aug.. Sept. 2.63 2.57 2.56 2.93 2.86 2.85 Oct.. Nov.. Dec 2.22 2.20 2.19 2.59 2.56 2.55 2/ Oct.. Nov. 2.61 2.66 2.70 2.92 2.98 3.03 191*9 -Jan.. . Dec. 2 95 2. 70 April *5 m> YIELDS OF TREASURY AND CORPORATE BONDS- S ©j Treasury Bulletin he .INTERNAL REVENUE COLLECTIONS. Table 1.- Summary by Principal Sources 1/ (In thousands of dollars) Total receipts from Fiscal year or month interna] revenue (Daily Treasury Statement Individual income tax and employment taxes Adjustment of collections to Daily Treasury Statement Total internal revenue collections Corporation income flT^ profits tales 2/ Individual income tax not withheld 2/ Individual income tax vithheld 4/ Old-age insurance taxes 4/ Railroad retirement Unemployment Insurance 1942 1943 1944 1945 1946 12,993,118 22,143,969 41,684,987 43,902,002 40,310,333 -36,797 -224,755 +1,565,477 +101,664 -361,589 13,029,915 22,368,724 40,119,510 43,800,338 40,671,922 4,744,083 9,668,956 14,766,796 16,027,213 12,553,602 4,448,162 8,128,637 19,999,378 20,813,491 20,405,364 3,262,800 5,943,917 10,437,570 8,770,094 8,846,947 686,015 7,823,435 10,264,219 9,857,5&9 895,336 1,131,546 1,290,025 1,307,931 1,237,825 170,409 211,151 265,011 284,758 284,258 119,617 156,008 183,337 186,489 178,745 1947 1948 1949 1950 1951 1952 39,379,409 41,853,485 40,307,285 39,448,607 51,106,095 65,634,894 +271,136 -11,051 -155,834 +491,482 +660,409 +625,502 39,108,273 41,864,536 40,463,119 38,957,126 50,445,686 65,009,393 9,676,757 10,174,410 11,553,669 10,854,351 14,387,569 21,466,910 21,367,662 23,379,123 20,527,935 19,797,883 26,624,788 33,738,370 9,501,015 9,464,204 7,996,320 7,264,332 9,907,539 u, 345, 060 9,842,282 11,533,577 10,055,502 9,888,976 13,089,769 17,929,047 1,458,934 1,612,721 1,687,151 1,873,401 2,810,750 3,584,026 379,555 560,113 562,734 548,038 579,778 620,622 185,876 208,508 226,228 223,135 236,952 259,616 September 3,413,233 4,408,351 6,710,598 -430,755 -988,280 +1,432,218 3,843,988 5,396,631 5,278,380 957,770 356,938 2,441,771 1,939,176 4,190,037 1,969,674 393,125 93,368 1,652,593 1,538,781 4,012,275 231,744 3,026 69,755 84,574 4,243 14,639 763 October. November. December. 3,150,106 4,512,766 5,962,982 -550,741 -833,043 +1,595,082 3,700,847 5,345,808 4,367,900 927,471 352,262 2,785,165 1,805,486 4,148,417 642,652 164,390 108,607 357,574 1,633,657 3,967,879 190,064 3,290 58,282 94,209 4,147 13,649 195 3- January.. 4,972,366 -405,912 5,378,278 501,195 4,039,683 2,854,566 1,144,150 4,288 36,679 1952 -July August. . 806 April 195J *7 IMTEKNAL REVENUE COLLECTIONS. INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES 1938 40 '42 '44 Treasury Bulletin hS -INTERNAL REVENUE COLLECTIONS. Table 2.- Detail of Collections by Type of Tax _l/ (In thousands of dollars) Type of tar . April 195 J h3 -INTERNAL REVENUE. COLLECTIONS. Table 2.- Detail of Collections by Type of Tax J±J - (Continued) (In thousands of dollars) First 7 months of fiscal year Fiscal year Type of tax 1951 Miscellaneous Internal revenue (continued) 1952 1952 Seventh month of flsoal year 1952 (January 1952) 1953 1953 (January 1953) r Retailers 1 excise taxes: Purs Jewelry Luggage Toilet preparations Total retailers • excise taxes Miscellaneous taxes: Sugar Act of 1937 Telephone, telegraph, radio, and cable facilities Local telephone' service • Transportation of oil by pipe line. Transportation of persons , etc Transportation of property Leases of safe-deposit boxes Admissions to theaters, concerts, etc Admissions to cabarets, roof gardens, etc Club dues and initiation fees... Bowling alleys, pool tables, etc.. Coin operated devices Adulterated and process or renovated butter, and filled cheese Narcotics, including marihuana and special taxes Coconut and other vegetable oils processed National Firearms Act Diesel oil jj Wagering taxes 6/ All other, Including repealed taxes not shown separately 29,097 122,577 50,776 65,657 28,486 131,152 55,360 66,604 8,487 27,174 10,131 11,548 29,008 11,618 "•57,013 475,530 268,106 281,602 57,339 61, 413 80,192 354,660 290,320 24,946 237,617 381,342 9,569 78,473 395,434 310,337 26,881 275,174 388,589 10,211 330,782 45,489 33,592 3,597 18,823 48,198 236,931 178,895 15,611 164,159 231,155 5,676 212,227 27,060 16,930 3,073 16,981 47,475 244,288 206,784 16,272 173,925 244,478 6,156 196,120 27,387 19,097 2,968 14,791 5,440 41,439 33,532 2,686 21,896 32,595 772 23,002 3,633 1,863 56 330 3,874 28,290 24,350 2,090 21,573 32,902 847 22,291 3,491 2,016 46 248 4 2 915 15,205 461 9,012 2 465 10,646 61 1,184 51 51,1*36 30,120 3,610 20,731 11 866 19,088 Total miscellaneous taxes Total Internal revenue collections Total receipts from internal revenue (Daily Treasury Statement) 220,403 90,799 112,892 346,1(92 1*2,646 Total miscellaneous internal revenue Adjustment to Daily Treasury Statement 57,6C* 210,239 8e,831 106,339 , 7,664 13,123 » 981 847 9 29 4 5 381 7,138 5,345 1,261 1,161 1,431 166 8,821 6,516 3,477 1,842,598 1,947,276 1,171,133 1,229,673 170,350 147,825 827,791 837,400 5,378,278 9,1*33,328 9,804,112 5,641,717 50,445,686 65,009,393 29,253,500 33,311,833 4,813,105 4660,409 4625,502 +159,567 -181,431 -•3,595 51,106,095 65,634,894 29,413,067 33,130,401 4,769,509 y 5/ 793 2,996 34_ 6,254,136 Source: Dally Treasury Statement for total receipts from Internal revenue: reports by the Bureau of Internal Revenue for collections by type of tax. Detail by type of tax is available only on a collection basis. Receipts on the Daily Treasury Statement basis are compiled from the latest dally reports from Government depositaries; they do not coincide with amounts reported by the Bureau because of the lag in deposits of collections and because certain taxes are paid directly into the depositaries. l/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation Income tax on Alaska Railroad (repealed by Public Law 386, approved June 10, 1952, for taxable years ending after that date). 2/ Includes excess profits taxes on Army and Navy contracts Imposed by the Vinson Act as amended (34 U.S.C. 496), and Income tax on business income of exempt organizations, imposed by the Revenue Act of 1951, approved October 20, 1951. Includes old-age insurance tax on self -employment income, imposed by 3_/ 1,096 -405,912 *,972,366 l the Social Security Act Amendments of 1950 (Public Law 73*0, approved August 28, 1950. The tax is levied and collected as part of the individual income tax beginning with the taxable year 1951- For estimated fiscal year breakdown, see Table 1. Beginning January 1951, withheld income tax and social security employment taxes on employers and employees are paid into the Treasury in combined, amounts without separation as to type of tax, pursuant to the Social Security Act Amendments of 1950. For estimated fiscal year breakdown, see Table 1. Repealed, effective November 1, 1951, by Revenue Act of 1951. Beginning July 1952, included with other repealed taxes under "Miscellaneous taxes" Effective November 1, 1951, under Revenue Act of 1951. Applies to diesel oil used in highway vehicles; effective November 1, 1951, under Revenue Act of 1951. Less than $500. Treasury Bulletin 50 .MOHETARY STATISTICS. Table 1.- Money in Circulation (In millions of dollars except as noted) Paper money aid of fiscal year or month Total money In circulation 1/ Gold Total paper certificates Silver certif- 2/ icates 21*, 605 274 243 221 86 81 77 2,079 316 24,807 232 79 2,063 2,080 2,095 315 316 318 24,580 24,870 24,971 218 217 215 77 77 76 37 37 37 2,093 2,105 317 322 31* 25,184 25,733 25,941 214 212 210 76 76 75 37 37 2,006 2,026 305 312 25,337 25,405 208 207 75 75 26,034 1*3 1950 1951 1952 27,156 27,809 29,026 25,661 26,231 27,348 1*1 1951 -Deo ember. 29,206 1952 -July 28,978 29,293 29, M9 27, 71 * 29,644 30,236 27,922 30A33 29,691 29,787 1953 -January,.. February p 1,651 2,025 2,061 2,061 2,061 323 38 2,177 2,092 2,088 27,552 38 27,292 27,598 38 38 37 28,683 27,970 28,063 28,1*97 y 22,760 1*8 . National bank notes 321 318 318 19V7 19*8 1949 26,91*5 26,91*2 26,1*82 1 Federal Reeerve Bank notes 4/ 120 114 25.5 *! 28,245 28,297 27,903 27,493 1 Federal Reserve notes 527 464 406 353 309 26,71*6 19W Ootober.. Horember December. a/ United States notes 22,867 23,973 23,999 23,600 23,209 19*5 August .... September Treasury notes of 1890 52 50 1*5 39 2,U5 317 320 321 319 23,1*56 106 99 93 .. 3 k 1 . 82 6 . . 8 . April 195) 51 .MDHZTAPY STATISTICS Table 2.- Monetary Stocks of Gold and Silver (Dollar amounts In mllllono) Gold End of fiscal year or month 19"t5 19<t6 20,213.0 20,269.9 21,266.5 23,532.5 , 19*7 19U8 , , Ratio of silver to gold and silver In monetary stocks ( In percent) Silver ($1.29+ per fine ounce) (*35 par fine ounce) 3,685.8 15.>> 3, 508.lt Hi. Ik .2 3,525.7 3,571.0 3,618.3 13.2 12.9 19"t9 2lt,lt66.3 1950 1951 1952 211,230.7 3,671.5 3,718.5 3,768.5 13.2 23,3>t6.5 1951 -December... 22,695.5 3,7"tl.3 1U.2 1952 -July 23,350.5 3,773.3 3,777.8 3,781.2 13.9 13.9 13-9 23,339.3 23,337.5 23,187.1 3,785.1i 11* 3,789.1 1U.0 1U.1 22,985.8 22,662.0 3,797.7 3,799.7 21,755.9 August September October. November December. 23, 3M1.lt 23,3it2.o . . . . . . 1953 -January.... February p. Source: Circulation Statement of U. S. Money; Daily Treasury Statement for preliminary figures. For detail of silver monetary stock, see Table 1*. p Ik. 13.9 3,79*1.1 .0 lit. lU.lt Preliminary. Table 3.- Gold Assets and Liabilities of the Treasury (In millions of dollars) Liabilities Sad of calendar year or month Gold assets Gold certificates 1/ 19*5 20,061t.9 19>t6 19"t7 20,529.0 22,753.9 19U8 2lt,2lt3.9 19"t9 21l,lt27.1 1950 1951 1952 , , 1952 -July August September. October.... November . . December. . 1953 -January. . . February p. 17, 91k. 18,1*30.5 21,51*4.0 23,010.0 23,217.9 156.0 156.0 156.0 156.0 156.0 Exchange Stabilization Fund 37 1,800.0 1,800.0 Gold in General Fund 19k. lll2.ll 1,053.9 1,077.9 1,053.2 22,706.1 22,695.5 23,187.1 21,1*97.5 21,506.5 22,022.8 156.0 156.0 156.0 1,052.6 1,032.9 1,008.2 23,350.5 22,1811.0 22,l81t.3 22 ,16*. 156.0 156.0 156.0 1,010. It 22,176.8 22,182.3 22,022.8 156.0 156.0 156.0 156.0 156.0 1,006.5 999.2 1,008.2 23, 3W1 .•* 23,3lt2.0 23,339.3 23,337.5 23,187.1 22,985.8 22,662.0 Circulation Statement of U. S. Money; Dally Treasury Statement for preliminary figures Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the gold certificate fund - 21, 827. 21,517.0 Source: l/ Gold reserve against U. S. notes, etc. 2/ 2/ 3_/ p l,00lt.l 1,001.7 1, 002.lt 989.O Board of Governors, Federal Reserve System, and (b) the redemption fund - Federal Reserve notes Reserve against United States notes and Treasury notes of I890. Excludes gold In active portion of Exchange Stabilization Fund Preliminary. Treasury Bulletin 52 . MONET ARY STATISTICS. Table 4.- Components of Silver Monetary Stock (In millions or dollars) Silver held In Treasury End of calendar year or month Silver bullion 2/ Sliver dollars Silver outside Treasury Subsidiary coin 2/ Bullion at cost 2/ Bullion for recoinage hf 10.2 11* 2,073.5 2,109.7 ihi.k 337.2 328.1 321.9 312.8 301.0 289.3 1952 -July August September . 2,095.2 2,098.5 2,101.8 295.5 293.6 292.7 6.6 11.9 9.2 October. November December 1953 -January February 2,10l».3 291.7 290.0 289.3 289.1 288.9 it. 51.1 3.7 3.9 8.9 lt-8.7 ltl.9 10.2 Itl.o 19>*7 1948 191*9 1950 1951 1952 , . . . . . . . p. 2,01*0.7 2,107.1 2,109.7 2,113.3 2,116.3 .0 13.1 5.9 11 .U 9lt.lt 3.6 1.7 3.9 95.1 82.0 >t5.3 a .5 58.1 53.8 1*5.3 Circulation Statement of U. S. Honey; Dally Treasury Statement for certain preliminary figures Valued at $1.29+ per fine ounce. Includes silver held by certain agencies of the Federal Government (see Daily Treasury Statement for amount). Does not Include Bllver lendleased to foreign governments (these transactions all took place during the fiscal years 19**2 through 191*6; see 191*6 Annual Report of the Source: H, Silver dollars 1/ 185.6 93.1 91.1 89.3 356.1* 1,703.9 1,911.2 1,937.6 1,971.5 2,003.2 19"*5 191*6 Total silver at $1.29+ per fine ounce In General Fund Securing silver certificates 1/ % Secretary of the Treasury Valued at $1.38+ per fine Valued at $1.38+ per fine to whether the bullion is coins or for recoinage of Preliminary. Less than $50 thousand. Subsidiary coin 2/ 137.5 150.1 156.3 165.0 171.0 8U6.7 901.1 928.7 971.5 982.2 3,512.8 3,5H*.2 179.8 ,022.2 ,083.1 3,697.1 191.3 202.5 3,51*7.9 3,596.7 3,61*3.1 3,71*1.3 3,79l*.l 1,158.1 196. it 198.3 199.2 1,119.1* l,13l*. 5 3,773.3 3,777.8 3,781.2 200.2 201.9 202.5 202.6 202.8 1,11*5.2 3,785.1* 1,150.6 1,158.1 1,158.6 1,158.7 3,789.1 1,125.1 3,79l*.l 3,797-7 3,799.7 for amounts). ounce. ounce or at $1.29+ per fine ounce according held for recoinage of subsidiary silver standard silver dollars. Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Offices 2J (In millions of ounces or dollars) Calendar year or month 191*7 29.0 21.1 38.6 191*8 39.2 19+9 1950 1951 1952 191*5 19l»6 Silver acquisitions by mints and assay offices Silver production in United States Newly mined domestic silver 2/ 1952 -July August.... September. October. . November. December. 1953~January. Source: . li.l* y 31*. 33.3 29.9 1*2.3 H.3 37. 1*0.0 3.6.1 1*1.2 32.7 37.3 2/ 1 2.1* 3.7 3.0 3.1 3.0 2.6 3.5 3.1* 2.6 Annual figures from the Bureau of the Mint. y * 3.3 2.3 3.2 3.<* 3.2 Monthly figures on Metal U. S. silver production from releases of the American Bureau of 1/ 27.1* 36.8 33.0 1*0.2 3_/ .6 .9 <*.9 30.3 Foreign silver Statistics; these will not agree with the annual figures. For information on silver production in other countries, see ennual reports of the Director of the Mint. Data from 1933 through 19*H are summarized in the "Treasury Bulletin" for August 19^3, page 7^. Acquired at 71.11 cents per fine ounce from July 1, 1939 to July 2, 191*6"; 3/ and at 90.5 cents per fine ounce since July 2, I9A6. No foreign silver has been purchased under the Silver Purchase Act of 193 * since May 19^2, Includes 0.2 million ounces valued at 71.11 cents per fine ounce totaling $0.2 million, and 30.I million ounces valued at 90.5 cents per fine ounce totaling $27.2 million. 1 k/ April 195) 53 .MOHETARY STATISTICS. Table 6.- Seigniorage on Silver (Cumulative from January 1, 1935 - In millions of dollars) Treasury Bulletin 5^ .CAPITAL M07B4EHTS. Data relating to clalme on foreigners and liabilities to foreigners, and capital movements between the United States and foreign oountrlee, have been collected since 1935. pursuant to Executive Order 6560 of January 15, 1934, and Treasury regulations thereunder. Information covering the principal types of data and the principal countries Is reported each month by banks and bankers and securities brokere and dealers In the United States. the data for January 1950. Attention le called to the fact that although the grand total figures on the revised reporting basis are reasonably comparable with those for preceding months, data for Individual countries In some Instances are not comparable beoauee of certain changes In coverage and geographloal classification. This The supplementary Information, oontalned In Section IV, Information le published regularly In the "Treasury Is presented In three tables appearing at different times. Bulletin". Table 1 gives data by oountrlee on short-term claims on and Supplementary Information le published at lees frequent Intervale. All reports are made Initially to the liabilities to foreigners as reported quarterly by exporters, Federal Reserve Banks, which forward consolidated figures Importers, and Industrial and commercial conoerns In the United States. This Information was published for the first to the Treasury. time In the October 19^9 leeue of the "Treasury Bulletin" The term "foreigners" as used In these reports covers all Institutions and Individuals (including United and begins with data for September 30, 19^6. Table 2 States supplies Information by oountrlee on long-term claims on citizens) domiciled outside the United States, as well as and liabilities to foreigners as reported by banks and International organizations, wherever domiciled, created by bankers In the United States. treaty or convention between sovereign states. "Short-term" flret time In the December 19^9 Issue. refers to original maturities of one year or less, and "long-term" refers to all other maturities. A detailed gives Information on ehort-term llabllltlee to countries dlsoueslon of the reporting coverage, This table appeared for the Data are for the end of the oalendar year beginning with 1942. Table 3 basis of reporting, not regularly reported separately by banks and bankers. and derivation of capital movemente figures appeared In the April 1950 Issue of the "Treasury Bulletin", pages 50-52. This table appeared for the first time In the April 1950 Issue. The data have been requested at Irregular Intervale, Revised report forme and regulations became effective -with the earliest date being Ootober 19^3. Section I - Summary by Periods Table 1.- Net Capital Movement between the United States and Foreign Countries (In thousand* of dollars 1 osgatlTs figures Indicate a nat outflow of capital from the Oil tad states) Analysis of nat oapltal Calendar year or month 1935-41 19ll2 , 19*3 1944 1945 1946 li*7 19*8 19»9 1950 1951 Brokerage balances 5,354,071 626,121 1,286,893 461,354 1,074,375 3,770,922 583,373 1,168,058 148,594 1,216,303 100,870 3,513 13,372 8,529 17,794 626,731 46,599 27,767 210,735 -113,105 -793,324 334,163 -733,90? 9,661 -11,318 -19,313 610 7,992 -6,1*1 -1,800 -33* ,203 -89,055 -192,215 75,203 -3,738 -4,102 2,023 22,924 32,893 -6,126 225,1*17 1952. p . Ootober . . lor ember. December p. . . 1953 -January p.. See Table 2, footnote 1. : Short-taxm banking funds 194,458 1,757,618 -380, »71 1,212,981 r 1952 -J»U August September 1/ Hat capital moreavnt 355,416 189,905 228,593 r 82,611. 129,0*7 -212,919 r 3,228 395,52"* 531,777 90,8*5 950,583 1/ 586,9*8 1,124,886 317,340 130,036 223,373 -lilt ,497 88,019 -197,139 r -15,593 p r Preliminary. HcTlsed. In foreign securities 91*4,430 -584,289 311,010 r 855,548 -7,364 77,696 93,496 -46,617 265,127 39,012 -94,832 27,800 -145,387 -376,989 -881,575 r 18,890 31,078 9,323 r 316 -7,810 3,692 r 185,794 41,783 28,249 11,001 7,055 -»7,721 3,516 32,882 -17,577 .. April ) . m> 55 .CAPITAL M0VD1EHTS Section 1 Summary by Periods - Table 2.- Short-Tern Claims on and Liabilities to Foreigners (Position at end of period In thousands of dollars Short-term claims on foreigners of calendar year or month vr*A Payable In foreign curreno les Payable in dollars Loans to foreign hanks 19"*2 21*6,673 30,916 191*3 257,929 3"*,387 86,378 19V* 19*5 329,691* 5U,603 105,1*21 1*7,1*89 19W 392,766 708,253 100,267 319,639 191*7 19"*8 91*8,936 165,1*39 1,018,700 100,371 19>*9 827,851* 1950 1951 1958 P 897,966 110,801* 21*0,583 1,01*2,978 1952 -July August. . .. September. 1,026,209 1,066,320 1,023,375 October. . November. December p 1,018,652 1,021,120 1953 -January p. 968,1*1*3 Short-term liabilities to foreigners Payable In dollars 72,01*8 98,119 292,866 361,197 222,719 151,115 Deposits of foreigners Other 11*3,709 137,161* 1*,205,389 5,37l*,903 169,670 2*5,010 5,596,775 6,883,068 \,9>.(>,(&\ 668,168 1,222,580 1,218,633 1,910,898 290,1*95 6,1*80,262 *, 693, 911 1*90,631 7,116,1*19 i*, 557,132 l*9l*,331 91,808 77,501 177,21*6 122,866 506,268 699,389 8U2,6ll 3,523,328 1*, Payable in foreign currencies 13"*, 1*12 1*,356,501 809,21*5 13,893 17,911 liabilities 3,958,716 5,116,971* 21,61*1 5,267,081 6,1*90,302 1,71*5,722 25,51*6 1*0,629 5,772,009 2,257,510 1*9, 661* 6,167,1*83 5,209,820 5,073,586 5,503,872 1/ 5,362,062 2,1*37,751 6,699,260 6,790,105 5,82l*,281t I*,6l8,l*29 70,3&9 51,039 *!*, 911 72,286 58,908 10,355,060 10,525,207 10,705,635 5,752,22"* *, 523, 1*1*8 5,831,960 •,669,037 1*, 808,016 79,388 62,086 65,659 9,328,851 5, 791*, 081* 10,586,1*15 5,7"*8,925 "*,773,038 6l*,li52 9,567,763 9,655,782 7,717,960 7,617,959 8,61*1., 775 1/ 9,302,200 10,501,621 2,1*93,331* 3,095,992 i 3,81*7,912 6<*,913 126,821 83»,»75 711,1*27 11*9,1*38 81*2,1*55 70,206 139,718 813,1*51 7<*,682 821,792 835,168 1,677,988 81*2,611 10,676,902 10,501,621 5,935,119 1,01*2,978 66,290 77,501 122,178 119,662 122,866 5,82l*,281* 1*, 618, 1*29 63,795 58,908 1,036,006 82,672 115,639 837,695 10,1*79,056 5,722,090 *,70*,3W 52,620 Beginning 1950, Includes oertaln deposit balances and other assets which are bold In specific trust accounts but which previously had been excluded from reported liabilities. let short-term p 7,71*6,809 1/ 8,333,757 9,»58,6I*3 9,1*58,887 9,682,260 9,1*58,61.3 9,W*3,050 Preliminary. Table 3.- Net Movement of Short-Term Banking Funds (In thousands of dollars; negative figures Indicate a net outflow of capital from the United States) Short-term claims Calendar year or month 1935-M Payable in foreign currencies 3,03l*,6l5 60,899 185,870 2,806,001 105,607 6,51*5 1,179,31'* 620,881t -19,01*3 5,15"* -32,506 7,111* -75,31*0 220,359 1,279,375 -219,372 26,773 -68,331 -1*5,1*85 -1*18,1*22 -21*0,683 -69,761* -50,630 -67,320 65,068 636,207 190,9*6 -76,233 -10,1*33 -129,779 138,1*78 65, 483 -70,1*77 11*8,775 -26,131 -200,136 -66,501 62,801 -11,937 -193,121 -7"*,535 lit, 307 5>t,380 -11*3,222 3,391* -1*0,111 8,1*63 -9,51"* 9,832 -22,617 9,720 -lit, 901 -315A87 19**7 19>*8 19"*9 19"*5 1950 1951 1952 P 1952 -July August .... September. October. . November December p . 1953 -January p. 1/ See Table 2 footnote 1. 1*2,91*5 -3,1*71 -20,216 It, 221 *,723 -It, 1*76 -2,1*68 -21,858r 8,392 -ll,211r 6,972 -5,171 17,5^0 2,516 220,576 583,205 -100,001 1,026,816 1/ -268,851* 115,381i 1*00,575 -136,231* 1*30,286 1/ 657,1*25 1,199,1*21 -121,810 U*2,222 313,91*6 170,11*7 180,1*28 34,303 -7,980 29,004 -8,31*1 601,5>*1 foreign 266,156 385,365 554,412 -3,947 692,265 -37,51*2 -161*, 651 15,083 9,035 20,725 -19,350 -6,128 27,31? -13,318 511,788 180,21*1 55,583 602,658 1/ 751,920 770,517 1*1,860 2811,787 lli5,589 37,876 138,979 -119,220 -83,035 -3l*,978 90,1*87 186,1911 -95,050 -59,559r -3,20l*r -13,376 -7,"A3r -175,28lr 7,227 1|,916 -22,565 Preliminary. Revised. -110,835r -102,19li Payable in Deposits of foreigners Loans to foreign banks 1*22,711 19"*6 19W Payable in dollars 6,1*09 307,187 15,933 191*3 Payable in dollars 20,671 -I1*, 330 736,307 97,503 -11,256 -71,765 -63,072 19"*2 Short-term liabilities 85,917 Bet movement of short-term banking funds 1*,018 3,770,922 583,373 1,168,058 3,730 3,905 1,216,303 -5,102 -5,11*1* -17,302 3,573 -1,207 -657 -l*,887r -6,288 11*8,591* -733,909 395.52 1* 531,777 90,81*5 950,583 1 586,91*8 1,124, 886 317,340 130,036 223,373 -11"*, 1*97 88,019 -197,139r -15,593 Treasury Bulletin 56 .CAPITAL M0VO4EMTS. Section I - Summary by Periods Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners (In thousands of dollars; negative figures Indicate a net outflow of capital from the United States) April m> 57 .CAPITAL MOVSMEHTS. Section II - Summary by Countries Table 1.- Net Movement of Capital and of Short-Term Banking Funds p r Preliminary, Revised. Treasury Bulletin 5*5 .CAPITAL MOVEMENTS. Section II - Summary by Countries Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners (In thousands of dollars; negative figures Indicate a net outflow of capital from the United States or net sales by foreigners) J April 195 59 .CAPITAL MOVEMMTS. Section II - Summary by Countries Table 3.- Short-Term Claims on and Liabilities to Foreigners 6o Treasury Bulletin .CAPITAL MOVEMENTS. Section II - Summary by Countries Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts Apni mi 61 .CAPITAL MOVEMENTS. Section III - Details for Month of November 1952 Table 1.- Short-Term Claims on Foreigners (Position at end of month in thousands of dollars) 62 Treasury Bulletin .CAPITAL MOYEMEHTS. Section III - Details for Month of November 1052 Table 2.- Short-Term Liabilities to Foreigners (Position at end of month In thousands of dollars) April 195) 63 .CAPITAL MOVEMENTS. Section III - Details for Month of November 1952 Table 3.- Purchases and Sales of Long-Term Securities by Foreigners (In thousands of dollars) Treasury Bulletin 6k .CAPITAL MOVEHEUTS. Section III A - Preliminary Details for Month of January 1953 Table 1.- Short-Term Claims on Foreigners (Position at end of month In thousands of dollars) April 195J 65 .CAPITAL MOVBfflHTS. Section III A - Preliminary Details for Month of January 1953 Table 2.- Short-Tern Liabilities to Foreigners (Position at end of month In thousands of dollars) Treasury Bulletin 66 CAPITAL MOVEMENTS Section III A - Preliminary Details for Month of January 1053 Table 3.- Purchases and Sales of Long-Term Securities by Foreigners . April . mi 67 .CAPITAL MOVEMENTS. Section IV - Supplementary Data by Countries Table 3.- Short-Term Liabilities to Foreigners in Countries and Areas not Regularly Reported Separately by Banks and Bankers (Position at end of month In thousands of dollars) 1952-Dec ember Country Deposits of foreigners Other short-tern liabilities "Other Europe" British Mediterranean possessions Bulgaria Estonia. Hungary . Iceland.. •«••< Latvia Lithuania Luxembourg '. •.... »••••. Monaco, .•.•••••••••••••••••••• Trieste I1O7 587 1,897 992 2,637 50 4 1,082 1,333 337 4,300 2,570 U,052 7 219 67U 11,725 6,677 23,599 11,624 7,666 2,864 5,426 148 9,237 4,990 196 7 33 "Other Latin America" British Caribbean possessions. .... Costa Rica. ......•••••••. Ecuador • Haiti Honduras Nicaragua Paraguay , 1 6,440 "Other Asia" , 3,98k 8,818 7,857 14, 110 54,429 Lebanon ....•••••, Pakistan Portuguese ABia... Saudi Arabia. ............ ......... Syria 16,673 10,357 2,790 15,902 11,253 Afghanistan. British Malaya Ceylon ..•••••. , , Iraq Korea , 3,611 6,069 2,605 •,033 l>0 5 97 "Other Countries" British Africa French Africa Liberia Libya Portuguese Africa Nev Zealand... Spanish Africa Tangier , .., ....... Bote: The Information in this table Is reported to the Treasury Department at Irregular Intervals upon request ( see headnote on page 5^ ) The totals will not agree vlth those shown for corresponding dates for "Other Europe", "Other Latin America", "Other Asia", and "Other countries" in the regular monthly series in the "Treasury Bulletin". Reports hare been requested only from banks and bankers In the Second Federal Reserve District, and countries have been omitted or grouped 763 22,926 9,297 2,295 6,237 370 2,728 1,000 50 3A33 60 210 21,136 5,544 to avoid revealing Individual accounts or the foreign position of any reporting Institutions. The total of the amounts Bhown here represente about 75 percent of the total for these categories reported by all districts. Data previously published in thiB series may be found in Section IV, Table 3, In the April 1950, 1951, and 1952 Isbuos of the "Treasury Bulletin" Treasury Bulletin 6S CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Data relating to corporations In which the United States Government has a proprietary Interest, direct or Indirect, and to certain other business-type aotlvltlee Treasury Statement", which contains greater detail than the summaries presented here. Tables 3 an|i ^ are complied from of the United States Qovernment are presented In a series ment. Table 1 gives a summary of loans outstanding, Table 2, balance sheet data, Table 3, Income presented In this Issue of the "Treasury Bulletin", and Tables 3 and k for the same date will appear In a subsequent Issue. of four tables. and expense, and Table Tables 1 k, source and application of funds. reports of the agenoles, adjusted by the Treasury DepartThe latest available loan and balanoe sheet data are and 2 are compiled from the mid-month "Dally Table 1. Comparison of Grose Loans Outstanding, Excluding Interagency Loam December 31 , 1951 and December 31, (In millions of dollars) By type of loan 1952 April WJ 69 •CORPORATIONS AND CERTAIN OTHER BUSINESS-TITE ACTIVITIES. Table 2.- Balance Sheets as of December 31, 1952 (In millions of dollars) Treasury Bulletin 70 .CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Table 2.- Balance Sheets as of December 31, 1952 (In millions of dollars) - (Continued) April 195) 71 . CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES. Table 2.- Balance Sheets as of December 31, 1952 (In mill lane of dollars) - (Continued) 72 Treasury Bulletin -CORPORATIONS AND CERTAIN OTHER BUSINESS-TYFE ACTIVITIES. Footnotes to Table 2 1/ 2/ l/ ][/ 5/ TJ 2/ 8/ 2/ 10/ ll/ 12/ 13/ Excludes unexpended balances of appropriated funds. Includes guaranteed loans held bj lending agencies. Includes notes for short-term borrowings. The surplus Is not available by law for dividend distribution and Is considered by the Corporation as a reserve for future deposit insurance losses and related expenses with respect to Insured banks. Includes $.2 million deposits to "Guaranty Fund". As shown above as a liability of each corporation or agency. As shown as an asset of the U. S, Treasury under "Other" business type activities (Bee footnote 19). Represents activities under United States Housing Act, as amended. War housing and other operations of the Administration are Bhovn under "Certain other businese-type activities". Includes merged war affiliates; excludes War Damage Corporation (in liquidation), which 1b Included under "Other" corporations. Represents assets held for the Treaaury in accordance with provisions of act of June 30, 19*8 (62 Stat. II87-II88), which provided for cancellation of R.F.C. notes In the amount of $9,313.7 million, plus interest accrued thereon subsequent to June 30, I9A7, representing unrecovered costs to the Corporation as of June 30, 19*7, In Its national defense, war, and reconversion activities, and stipulated that any amounts recovered by the Corporation with respect to these activities subsequent to June $0, 19*7, should, after deduction of related expenses, be deposited In the U. S. Treasury as miscellaneous receipts. Consists of Defense Homes Corporation (in liquidation); Federal Crop Insurance Corporation; Federal Prison Industrie*, Inc.; Inland Waterways Corporation (as of November 30, 195 2 » the latest available); Institute of Inter-American Affairs (as of September 30, 1952, the latest available); Panama Canal Company; Smaller War Plants Corporation (in liquidation); The Tirgln Islands Corporation; and War Damage Corporation (in liquidation). The balance sheet of the Panama Canal Company is subject to substantial change pending establishment of a complete inventory and appraisal of net assets transferred from the Canal to the Company. Includes unallocated accounts current of synthetio rubber operations. The surplus ia considered by the Corporation as available for future insurance losses and related expenses with respect to Insured Institutions. 1*/ l)j/ 16/ 17/ 18/ 19/ 20/ 21/ 22/ 23/ 2k/ * Consists of net income from power operations of $207.7 million and net expense of non-incoae-produclng programs of $1*13.1 million. Excludes maritime activities, under the Department of Commerce, for which current information is not available. Consists of Alaska housing program, community facilities service, housing loans for educational institutions, prefabricated housing loans program, revolving fund for development of Isolated defense sites, and slum clearance program. Consists of Farm Security Administration program, public war housing program, and veterans* re-use housing program. Homes conversion program has been liquidated. Consists of Agricultural Marketing Act Revolving Fund; Federal Security Agency - loans to students; Department of the Interior Indian loans and Puerto Rico Reconstruction Administration; Department of the Army - guaranteed loans (World War II); Department of the Navy - guaranteed loans (World War II); Home Loan Bank Board H.O.L.C. liquidation unit; Mutual Security Agency - guaranty program and loan program; Public Works Administration (in liquidation); Treasury Department - miscellaneous loans and certain other assets; Veterans 1 Administration - Veterans* Canteen Service, Veterans* direct loan program, guaranteed loans to veterans; and agencies reporting pursuant to Defense Production Act of 1950, which consist of Atomic Energy Commission, Defense Materials Procurement Agency, and Departments of the Air Force, Army, Commerce, Interior, and Navy. Represents obligations of Government corporations and agencies as shown under "Bonds, debentures, and notes payable - U. S. Treasury", except that the latter excludes $2,220.5 million obligations of an agency not required to report, Includes $3,660.* million loan to the United Kingdom. Consists of $2,750.0 million subscriptions to the International Monetary Fund and $635.0 million stock in the International Bank for Reconstruction nnd Development. Includes $138.* million reserves for contingent losses, expenses, and other charges. Includes subscriptions to the International Monetary Fund and Bank (see footnote 21) and loan to United Kingdom (see footnote 20). Represents Agricultural Marketing Act Revolving Fund proprietary interest in a Government corporation. Less than $50,000. April 195J 73 .CUMULATIVE TABLE OF CONTENTS. May 1952 through April 1953 Treasury Bulletin 7* .CUMULATIVE TABLE OF CONTENTS. May 1952 through April 1953 - (Continued) Issue and page number 1952 1953 May June July Aug. 27 27 28 27 27 28 27 27 28 27 27 28 27 27 28 27 27 28 27 27 28 27 27 28 27 27 28 30 30 31 32 32 32 32 32 32 Sept United States savings bonds: Cumulativu sales and 1 ademptions by series Sales and redemptions by periods, all series combined Sales and redemptions by periods, Series E through K....... Redemptions of matured and unmatured bonds .........•.•••.•• Sales and redemptions by denominations. Series £ and H and Series F, O, J, and K Sales by States, Series E and H and Series F, G, J, and K.. 31 33 3* 36 3« 37 kl 27 27 28 32 k2 33 to Treasury savings notes: Cumulative sales and redemptions by series ........... Sales and redemptions by periods, all series combined. 32 32 32 32 36 36 33 33 33 33 35 35 33 33 33 33 to to 33 33 33 37 3* 3* 36 3k 3k k7 3k 32 33 33 3* 37 38 34 35 3* 36 37 3"> 3k 35 35 k7 k8 3k 35 3* 3? 3'.' 36 36 38 36 36 to 36 31 31 Ownership of Federal securities: Distribution by classes of Investors and types of Issues......... Ret market purchases or sales for Investonent accounts handled by the Treasury ...•.•••.••••••••••••• •••••••••••••*•• • Estimated ownership •,•••••••••••••••.........«••••••••••••••••.« 35 Treasury survey of ownership: Ownership by banks, Insurance companies, and others. .............. Ownership by commercial banks classified by membership In Federal Reserve System (latest date December 31, 1952) 35 to to Market quotations: Over-the-counter closing quotations on Federal securities by Issues Chart - Yields of Treasury securities ....•.•.•...•.• to 39 38 to to itl 39 to '.3 1.2 46 k7 1*3 to to 1>2 k3 U7 to to k9 to k5 to to U7 to 50 51 52 to 1.8 1*7 to to k3 53 56 k7 to to 57 58 to to to k7 k8 59 £0 61 50 51 52 to Yields of Treasury and corporate bonds: Average yields of long-term bonds by periods. Chart - Average yields of long-term bonds.... to "»3 1*5 to k5 to k5 to to to 50 51 to 50 50 to k9 to 50 50 53 ">9 5* 51 50 51 51 52 50 51 51 56 57 52 53 Internal revenue collections: Summary by principal sources Chart - Internal revenue collections by principal sources. Detail of collections by type of tax 1.7 to to to k8 50 k8 5k 50 52 63 5k 51 51 52 53 50 51 50 55 55 56 53 51 51 51 5* 52 52 6k 6k 65 55 55 56 52 52 53 65 66 56 57 Monetary statistics: Money in circulation... Monetary stocks of gold and silver Sold assets and liabilities of the Treasury Components of silver monetary stock Silver production in the united States and acquisitions by mints and assay offices ••••••« Seigniorage on silver • ••• • Increment from reduction in veight of gold dollar (latest date December 31, 1952) Net Treasury gold receipts (latest quarter ending December 31, 1952) 52 52 55 56 53 66 55 56 51 55 57 57 53 Exchange Stabilization Fund (latest date September 30. 1952): Balance sheet...... Income and expense. 67 56 57 57 58 68 Capital movements between the United States and foreign countries: Summary by periods since 1935***>****** Summary by countries and months........ Details for latest months by countries. Supplementary data by countries » 52 58 62 55 59 65 53 56 So 66 59 62 66 58 61 65 5k 57 61 58 61 65 5k 5k 57 61 57 61 Corporation and certain other buslnes6-type activities (latest dates December 31 and June 3°. 1952): Loans outstanding ••••••• Balance sheets ..•••••••. Tnr nmA nnA expense ............. Source end application of funds. 71 72 67 71 70 69 72 76 58 61 65 BUY AND HOLD UNITED S TAT E S SAVINGS BONDS - U.S. Treasury Dept, Treasury Bulletin
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